Document background
The Resolution of Authority serves as a crucial corporate governance document in Pakistan's legal framework, primarily used when companies need to formally delegate specific powers to individuals or roles within the organization. This document is essential for compliance with the Companies Act 2017 and related Pakistani corporate regulations, particularly when authorizing individuals to conduct business transactions, sign documents, or represent the company in various capacities. The resolution typically specifies the scope of authority, any limitations, duration of the authorization, and reporting requirements. It's commonly used during leadership transitions, when establishing new business operations, or when restructuring corporate responsibilities. The document must be properly executed, often requiring board approval, appropriate stamping, and registration with relevant authorities depending on the nature and scope of the authority being granted.
