Board Resolution For Lease Agreement Template for Singapore

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Key Requirements PROMPT example:

Board Resolution For Lease Agreement

"Need a Board Resolution For Lease Agreement to authorize our Singapore subsidiary to lease a 10,000 sqft warehouse in Jurong Industrial Estate for 5 years starting March 2025, with a monthly rental of SGD 25,000."

Document background
A Board Resolution For Lease Agreement is required under Singapore corporate law when a company intends to enter into a significant lease arrangement. This document demonstrates compliance with corporate governance requirements and provides clear authorization for executing the lease. It's particularly important for Singapore companies as it fulfills Companies Act requirements and provides protection for stakeholders. The resolution should detail the approved lease terms, financial commitments, and named authorized signatories. It's commonly used when leasing commercial property, establishing new locations, or renewing significant lease agreements.
Suggested Sections

1. Title and Date: Identifies the document as a board resolution with date of meeting

2. Attendance: Lists directors present and confirms quorum

3. Preamble: States the company details and meeting context

4. Background: Explains the reason for considering the lease agreement

5. Resolution Details: Specific terms of the lease agreement being approved

6. Authorization: Names authorized persons to execute the lease

Optional Sections

1. Special Conditions: Additional requirements or conditions, used when lease has unique terms

2. Related Party Declarations: Disclosure of any related party interests in the lease transaction

3. Financial Impact Statement: Analysis of financial implications for material lease commitments

Suggested Schedules

1. Copy of Lease Agreement: Draft lease agreement being approved by the board

2. Property Details: Detailed description of leased premises including location, size, and facilities

3. Financial Analysis: Detailed financial implications including rental costs, maintenance fees, and other financial obligations

4. Property Valuation: Independent valuation report if required for significant lease commitments

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

Industries

Companies Act (Cap. 50): Primary legislation governing corporate matters including board resolution requirements, corporate governance, directors' duties and responsibilities, and company secretary requirements

Land Titles Act (Cap. 157): Legislation governing property ownership and registration requirements, and leasehold interests in Singapore

Conveyancing and Law of Property Act (Cap. 61): Sets out legal requirements for lease agreements, property rights and obligations

Stamp Duties Act (Cap. 312): Governs stamp duty requirements and documentary requirements for lease agreements

Building Control Act (Cap. 29): Regulates building usage, zoning requirements and property maintenance obligations

Planning Act (Cap. 232): Controls land use restrictions and zoning requirements in Singapore

Building Maintenance and Strata Management Act: Relevant for properties that are part of strata-titled developments

Fire Safety Act (Cap. 109A): Stipulates fire safety requirements for commercial properties

Company's Constitution: Internal governing document that may contain specific requirements for property-related decisions

SGX Listing Rules: Additional requirements if the company is listed on the Singapore Exchange

Industry-specific Regulations: Additional regulations that may apply depending on the company's industry sector

Environmental Regulations: Environmental protection requirements that may affect property usage and lease terms

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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