Minutes For Change Of Bank Signatories Generator for Australia

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Key Requirements PROMPT example:

Minutes For Change Of Bank Signatories

"I need Minutes For Change Of Bank Signatories to remove two departing executives and add our new CFO as an authorized signatory, with dual signing requirements for transactions over $50,000 AUD, to be effective from March 15, 2025."

Document background
Minutes For Change Of Bank Signatories are essential corporate documents used when a company needs to modify its authorized bank signatories. This document is required by Australian banks and must comply with the Corporations Act 2001 (Cth), Banking Act 1959 (Cth), and relevant AML/CTF legislation. It's typically needed when key personnel change, during corporate restructuring, or when revising internal financial controls. The minutes must accurately record the meeting where the changes were approved, including details of attendance, resolutions passed, and specific changes to signing arrangements. This document forms part of both the company's official records and the bank's required documentation for implementing the changes.
Suggested Sections

1. Meeting Details: Date, time, location of meeting, and company name

2. Attendance: List of directors present, apologies, and confirmation of quorum

3. Chairperson: Recording who chaired the meeting

4. Previous Minutes: Confirmation of previous minutes (if applicable)

5. Purpose of Meeting: Stating the specific purpose to change bank signatories

6. Current Signing Arrangements: Recording existing bank signing arrangements and authorized signatories

7. Proposed Changes: Details of the proposed changes to signing arrangements

8. Resolution: Formal resolution to change bank signatories, including specific operating rules and limits

9. Closure: Time of meeting closure and signature of chairperson

Optional Sections

1. Bank Account Details: Include when changes apply to specific accounts only rather than all company accounts

2. Additional Banking Services: Include when also modifying online banking access or other banking services

3. Reason for Changes: Include when there's a need to document specific reasons for the changes (e.g., departure of staff, organizational restructure)

4. Transitional Arrangements: Include when there needs to be a specific timeframe or process for implementing the changes

Suggested Schedules

1. Schedule A - Authorized Signatories Details: Personal details of new and continuing authorized signatories including full names, positions, and specimen signatures

2. Schedule B - Bank Account List: List of all affected bank accounts including account numbers and branches

3. Appendix 1 - Identification Documents: Copies of identification documents for new signatories as required by AML/CTF regulations

4. Appendix 2 - Bank Forms: Completed bank-specific forms for changing signatories (as required by specific banks)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Banking & Financial Services

Corporate Services

Professional Services

Healthcare

Education

Retail

Manufacturing

Technology

Non-Profit

Government

Construction

Real Estate

Mining & Resources

Agriculture

Transportation & Logistics

Relevant Teams

Finance

Corporate Governance

Legal

Treasury

Executive

Board of Directors

Accounts

Administration

Risk & Compliance

Operations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Company Secretary

Financial Controller

Treasury Manager

Accounts Manager

Managing Director

Board Director

General Manager

Finance Manager

Corporate Governance Manager

Risk & Compliance Manager

Operations Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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