Board Resolution For Rent Agreement Template for Singapore

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Key Requirements PROMPT example:

Board Resolution For Rent Agreement

"Need a Board Resolution For Rent Agreement for our Singapore subsidiary to lease a 5,000 sqft office space in Marina Bay Financial Centre, with authorization for our CEO and CFO to execute the rental agreement for a term of 3 years starting March 1, 2025."

Document background
A Board Resolution For Rent Agreement is a crucial corporate document required under Singapore law when a company intends to lease property. This document demonstrates proper corporate governance and compliance with the Companies Act (Cap. 50), providing evidence that the decision to enter into a rental agreement was properly considered and approved by the board. It typically includes details of the property, authorized signatories, financial limits, and specific terms that have been approved. The resolution protects both the company and its stakeholders by ensuring transparency and proper authorization in property rental transactions.
Suggested Sections

1. Title and Date: Formal identification of the resolution and date of passing

2. Company Details: Full legal name and registration number of the company

3. Preamble: Statement confirming proper notice and quorum

4. Background: Context and reasons for entering into the rent agreement

5. Resolution Statements: Specific decisions being approved regarding the rent agreement

6. Authorization: Empowerment of specific individuals to execute the agreement

Optional Sections

1. Special Conditions: Any specific requirements or conditions for the rental agreement that are unique to the situation

2. Financial Authority Limits: Specific monetary limits of authority for the designated signatories

Suggested Schedules

1. Signature Page: Contains directors' signatures and company seal

2. Property Details: Specific details of the property being rented including address and property specifications

3. Draft Rental Agreement: Copy of the proposed rental agreement being approved by the board

4. Supporting Documents: Any relevant property documentation, certificates, or additional approvals required

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 actions including requirements for valid board resolutions, corporate authority, decision-making processes, and directors' duties and responsibilities

Conveyancing and Law of Property Act: Fundamental property law governing real estate transactions and property rights in Singapore

Land Titles Act: Legislation governing the registration and transfer of land titles in Singapore

Building Control Act: Regulates the construction and maintenance of buildings, including safety and structural requirements

Planning Act: Controls land use and development in Singapore, including zoning requirements

Landlord and Tenant Act: Governs the relationship between landlords and tenants, including rights and obligations of both parties

Control of Rent Act: Regulates rental properties and provides control measures for rental arrangements where applicable

Building Maintenance and Strata Management Act: Governs the management of strata-titled properties and common property in Singapore

ACRA Requirements: Regulatory requirements set by the Accounting and Corporate Regulatory Authority for Singapore companies

Company's Constitution Requirements: Internal governing rules of the company that may affect board resolution procedures

Stamp Duties Act: Legislation governing stamp duty obligations for tenancy agreements and property transactions

COVID-19 (Temporary Measures) Act: Temporary legislation providing relief measures for businesses affected by COVID-19, including rental relief measures

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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