Board Resolution For Increase In Authorised Share Capital Template for Singapore

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Key Requirements PROMPT example:

Board Resolution For Increase In Authorised Share Capital

"I need a Board Resolution For Increase In Authorised Share Capital for my Singapore tech startup, increasing the authorized share capital from SGD 100,000 to SGD 1,000,000 to prepare for Series A funding in March 2025."

Document background

The Board Resolution For Increase In Authorised Share Capital is a crucial corporate document required when a Singapore company needs to expand its potential to issue additional shares. This typically occurs during business expansion, preparation for new investments, or strategic corporate restructuring. The resolution must comply with Singapore's Companies Act (Cap. 50) and includes essential details such as the current authorized capital, proposed increase amount, and reasons for the increase. It requires proper board approval and subsequent filing with ACRA within the prescribed timeframe.

Suggested Sections

1. Title and Date: Identifying information of the company and date of resolution

2. Preamble: States the meeting details, quorum confirmation, and attendance record

3. Current Share Capital Structure: Details of existing authorized share capital including number of shares and par value

4. Proposed Increase: Specific details of the proposed increase in authorized share capital, including new total

5. Resolution: Formal resolution text for the increase in authorized share capital

6. Authorization: Authority given to company officers to execute necessary documents and file with ACRA

Optional Sections

1. Rationale: Explanation of reasons for increase in authorized share capital, recommended for larger companies or complex transactions

2. Compliance Statement: Statement confirming compliance with Companies Act, company constitution, and other relevant laws

3. Future Actions: Details of subsequent steps and implementation timeline, useful for complex transactions

Suggested Schedules

1. Current Shareholding Structure: Detailed breakdown of existing share distribution and classes of shares

2. Proposed Shareholding Structure: Breakdown of share distribution and classes after the proposed increase

3. Required ACRA Forms: Copies of relevant ACRA forms to be filed for the share capital increase

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Meeting Details
Quorum Confirmation
Recitals
Current Capital Structure
Capital Increase Details
Authority to Implement
Regulatory Compliance
Filing Requirements
Share Class Specifications
Amendment to Constitution
Director Authorization
Company Secretary Authority
Documentation Requirements
Effective Date
ACRA Registration
Certification
Execution
Notice Requirements
Record Keeping

Relevant Industries

All Corporate Sectors
Growth Companies
Listed Companies

Relevant Teams

Legal
Corporate Secretarial
Finance
Corporate Governance
Executive Office

Relevant Roles

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Let's create your Board Resolution For Increase In Authorised Share Capital

Authors

Alex Denne

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