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Resolution Of Authority

Resolution Of Authority Template for Australia

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Key Requirements PROMPT example:

Resolution Of Authority Template

"I need a Resolution of Authority Template for our Melbourne-based mining company to authorize our new Regional Operations Manager to execute contracts and make operational decisions up to AUD 500,000, effective from March 1, 2025."

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Document background
The Resolution of Authority Template is a critical corporate governance document used in Australian business operations to formalize the delegation of authority within an organization. It is typically required when a company needs to officially authorize specific individuals or roles to act on behalf of the organization, such as signing contracts, making financial decisions, or handling specific operational matters. The document must comply with the Corporations Act 2001 (Cth) and relevant state legislation, and is commonly used during corporate restructuring, appointment of new officers, or establishment of new operational procedures. The template includes comprehensive details about the scope of authority, limitations, conditions, reporting requirements, and duration of the delegation, ensuring clear accountability and proper corporate governance.
Suggested Sections

1. Title and Date: Formal identification of the document as a Resolution of Authority and the date of the resolution

2. Entity Details: Full legal name and ACN/ABN of the entity making the resolution

3. Meeting Details: Information about when and where the resolution was passed, including type of meeting (board/shareholder)

4. Present Parties: List of directors/shareholders present at the meeting

5. Background: Context explaining why the authority is being granted

6. Definitions: Key terms used throughout the resolution

7. Resolution Statement: The formal 'RESOLVED THAT' statement outlining the main decision

8. Scope of Authority: Detailed description of the powers being granted

9. Duration and Termination: Period for which the authority is valid and conditions for termination

10. Execution: Signature blocks for authorized signatories

Optional Sections

1. Conditions Precedent: Any conditions that must be met before the authority becomes effective

2. Reporting Requirements: Requirements for the authorized person to report on their activities

3. Delegation Restrictions: Specific limitations on the ability to delegate the granted authority

4. Compliance Requirements: Specific regulatory or internal compliance requirements

5. Indemnification: Provisions for indemnifying the authorized person when acting within scope

6. Insurance Requirements: Required insurance coverage for the authorized person

7. Revocation Process: Specific procedures for revoking the authority

8. Conflict Resolution: Procedures for resolving disputes about the exercise of authority

Suggested Schedules

1. Schedule A - Authorized Persons: Detailed list of individuals being granted authority, including their positions and contact details

2. Schedule B - Scope of Powers: Detailed breakdown of specific powers and limitations, including financial thresholds

3. Schedule C - Specimen Signatures: Signature specimens of authorized persons for verification purposes

4. Schedule D - Required Forms: Templates of forms or documents that must be used when exercising the authority

5. Appendix 1 - Supporting Documents: Copies of relevant supporting documentation (e.g., board minutes, constitution excerpts)

6. Appendix 2 - Compliance Checklist: Checklist of compliance requirements and procedures for exercising authority

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Banking

Insurance

Healthcare

Mining and Resources

Real Estate

Retail

Manufacturing

Professional Services

Technology

Transportation and Logistics

Education

Construction

Energy

Telecommunications

Relevant Teams

Legal

Corporate Governance

Compliance

Finance

Treasury

Risk Management

Operations

Executive Management

Company Secretariat

Internal Audit

Corporate Affairs

Administrative Services

Relevant Roles

Chief Executive Officer

Company Secretary

Chief Financial Officer

Managing Director

Executive Director

Non-Executive Director

General Counsel

Head of Compliance

Chief Operating Officer

Department Head

Regional Manager

Branch Manager

Authorized Signatory

Treasury Manager

Corporate Governance Officer

Risk Manager

Legal Counsel

Finance Manager

Industries
Corporations Act 2001 (Cth): Primary legislation governing corporate operations in Australia, including corporate decision-making processes, directors' duties, and delegation of authority
Electronic Transactions Act 1999 (Cth): Regulates electronic execution of documents and electronic signatures, which is relevant for modern corporate authorizations
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth): Relevant when the authority involves financial transactions or banking authorities
State-specific Electronic Transactions Acts: State-level legislation governing electronic transactions and signatures, varying by jurisdiction
Competition and Consumer Act 2010 (Cth): Relevant when the authority involves consumer interactions or trade practices
Banking Act 1959 (Cth): Important when the resolution of authority involves banking matters or financial institution interactions
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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