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Board Resolution For Creation Of Charge
"Need a Board Resolution For Creation Of Charge to secure a S$5 million bank facility with DBS Bank, creating a fixed charge over our property at 123 Marina Bay Singapore and floating charge over inventory, to be executed by March 2025."
1. Title and Date: Details of the company and date of resolution
2. Preamble: States that this is a resolution of the Board of Directors
3. Attendance: List of directors present at the meeting
4. Quorum: Confirmation that quorum requirements are met
5. Background: Purpose and context for creating the charge
6. Resolution Details: Specific details of the charge being created
7. Authorization: Board's approval and authorization for creating the charge
8. Execution: Authorization for specific individuals to execute documents
1. Additional Authorizations: Special powers granted for specific circumstances - used when additional authority is needed beyond standard charge creation
2. Conditions Precedent: Specific conditions that must be met - used when charge creation is subject to certain conditions
3. Related Party Disclosures: Declaration of any interested directors - used when directors have interests in the charge arrangement
1. Property Schedule: Details of assets being charged
2. Form V1: ACRA registration form template
3. Security Documents: Draft of security documents to be executed
4. Board Meeting Notice: Copy of notice convening the board meeting
Authors
Board of Directors
Charge
Secured Property
Security Interest
Secured Obligations
Charge Holder
Security Documents
Facility Agreement
Secured Amount
Permitted Security Interest
Security Period
Enforcement Event
Authorized Signatories
Companies Act
Constitution
ACRA
Register of Charges
Relevant Jurisdiction
Business Day
Effective Date
Resolution Date
Charged Assets
Transaction Documents
Authority and Powers
Creation of Charge
Nature of Security
Description of Assets
Secured Obligations
Registration Requirements
Authorization of Execution
Signatories Appointment
Filing Requirements
Undertakings
Documentation Authority
Further Assurance
Compliance Requirements
Board Confirmation
Meeting Details
Quorum Confirmation
Constitutional Compliance
Directors' Interests
Certification
Execution Authority
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