Document background
The Board Resolution For Ratification of Agreement is a crucial corporate governance document used in New Zealand when a company's board of directors needs to formally approve and validate an agreement that has been entered into or is to be entered into by the company. This document is particularly important for demonstrating compliance with the Companies Act 1993 and maintaining proper corporate governance records. It is typically required when significant contracts, major transactions, or important business arrangements need board approval, either retrospectively or prospectively. The resolution should detail the board's consideration of the agreement, confirm their belief that it is in the company's best interests, and document their decision-making process. This helps protect both the company and its directors by creating a clear record of proper corporate governance procedures being followed.
