Document background
A Partnership Resolution For Opening Bank Account is a crucial document required by Irish financial institutions when establishing banking relationships with partnership entities. This document is necessary whenever a partnership needs to open a new bank account, modify existing banking arrangements, or update authorized signatories. It must comply with the Partnership Act 1890, Central Bank regulations, and anti-money laundering legislation in Ireland. The resolution typically includes details about the partnership, specific banking powers granted, authorized signatories, and operational mandates. It serves as the bank's primary reference document for account operation and helps ensure clear communication of the partnership's banking requirements and authorities. The document is particularly important as it provides protection for both the partnership and the bank by clearly defining the scope of banking activities and who is authorized to conduct them.
