Document background
A Board Resolution For Sale of Shares is a crucial corporate governance document required under New Zealand law when a company's board approves a share transfer transaction. This document is essential when shares in a company are being sold or transferred, whether between existing shareholders or to new investors. It must comply with the New Zealand Companies Act 1993 and the company's constitution, typically being prepared following a board meeting where the share sale is approved. The resolution includes critical details such as the number and class of shares being transferred, the parties involved, consideration amount, and any conditions attached to the sale. It serves as official evidence of the board's authorization and is often required by banks, regulatory authorities, and other stakeholders as proof of proper corporate approval for the transaction.
