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Trust Resolution For Authorised Signatory

Trust Resolution For Authorised Signatory Template for New Zealand

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Key Requirements PROMPT example:

Trust Resolution For Authorised Signatory

"I need a Trust Resolution for Authorized Signatory for our family trust to appoint our trust administrator as signatory for transactions up to NZD 50,000, with the authority to commence from January 15, 2025."

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Document background
The Trust Resolution For Authorised Signatory is a crucial document in New Zealand trust administration, designed to facilitate efficient trust operations while maintaining proper governance and control. This document becomes necessary when trustees need to delegate signing authority for day-to-day operations or specific transactions, particularly in situations where immediate trustee availability may be limited. It must comply with the Trusts Act 2019 and any specific provisions in the trust deed regarding delegation of authority. The resolution typically specifies who can sign what documents, any financial limits, duration of authority, and reporting requirements. It's particularly relevant for trusts with substantial activities, multiple transactions, or those requiring frequent document execution.
Suggested Sections

1. Trust Details: Identification of the trust, including its full legal name, date of establishment, and trust deed reference

2. Meeting Details: Date, time, place of the trustees' meeting, and confirmation of quorum

3. Present Trustees: List of trustees present at the meeting and their capacity

4. Background: Context for the resolution, including the need for authorized signatories and reference to relevant trust deed provisions

5. Resolutions: Formal decisions made by the trustees, including appointment of authorized signatories and scope of their authority

6. Authorized Signatory Details: Full legal names, positions, and contact details of appointed authorized signatories

7. Scope of Authority: Detailed description of the powers and limitations of the authorized signatories

8. Duration: Period for which the authorization remains valid

9. Execution: Formal signing section for trustees to execute the resolution

Optional Sections

1. Consideration of Trust Deed: Specific reference to trust deed clauses permitting delegation - include when the trust deed has specific delegation provisions

2. Financial Limits: Specific monetary limits on signing authority - include when trustees wish to set transaction value limits

3. Special Conditions: Any special conditions or restrictions on the authority - include when specific limitations are required

4. Reporting Requirements: Requirements for authorized signatories to report back to trustees - include for enhanced oversight

5. Revocation Procedure: Process for revoking the authority - include when specific revocation procedures are desired

6. Indemnification: Provisions regarding indemnification of authorized signatories - include when requested by appointees

Suggested Schedules

1. Schedule 1 - Specimen Signatures: Sample signatures of authorized signatories for verification purposes

2. Schedule 2 - Authorized Activities: Detailed list of specific transactions or activities authorized

3. Schedule 3 - Document List: List of specific documents the signatories are authorized to sign

4. Appendix A - Trust Deed Extract: Relevant extracts from the trust deed regarding delegation powers

5. Appendix B - Identification Documents: Copies of identification documents for authorized signatories

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 legal definitions
Trust
Trust Deed
Trustees
Authorized Signatory
Authorized Activities
Board Resolution
Delegated Authority
Effective Date
Execution
Financial Limit
Permitted Documents
Power of Attorney
Resolution
Scope of Authority
Specimen Signature
Term
Transaction
Trust Property
Trust Register
Trustee Act
Verification Requirements
Working Day
Written Notice
Signing Authority
Authorized Bank Accounts
Reporting Requirements
Certificate of Authority
Governing Law
Revocation Notice
Special Resolution
Relevant Industries

Financial Services

Real Estate

Property Management

Professional Services

Family Office

Wealth Management

Legal Services

Corporate Services

Investment Management

Charitable Organizations

Education

Healthcare

Agricultural Trusts

Indigenous Trusts (Māori Trusts)

Retirement Services

Relevant Teams

Legal

Finance

Compliance

Risk Management

Trust Administration

Operations

Corporate Secretariat

Treasury

Investment

Property Management

Governance

Administrative Support

Relevant Roles

Trustee

Trust Manager

Company Secretary

Legal Counsel

Finance Manager

Chief Financial Officer

Operations Manager

Trust Administrator

Compliance Officer

Risk Manager

Investment Manager

Property Manager

Account Manager

Treasury Manager

Board Director

Executive Director

Trust Accountant

Industries
Trusts Act 2019: The primary legislation governing trusts in New Zealand, which sets out trustees' duties, powers, and obligations, including their ability to delegate authority and appoint authorized signatories.
Property Law Act 2007: Relevant for understanding how trustees can deal with trust property and execute documents relating to property transactions.
Contract and Commercial Law Act 2017: Provides framework for understanding how delegated authority works in commercial contexts and ensures validity of signed documents.
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Important for ensuring compliance when authorized signatories are dealing with financial transactions on behalf of the trust.
Interpretation Act 1999: Provides guidance on how legal documents should be interpreted and executed in New Zealand.
Financial Markets Conduct Act 2013: Relevant when the trust involves financial investments or financial products, affecting how authorized signatories can act in these matters.
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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