Document background
A Board Resolution For Sale of Assets is a crucial corporate document required under Singapore law when a company intends to dispose of significant assets. It demonstrates proper corporate governance and compliance with the Companies Act (Cap. 50). The resolution is necessary to document the board's approval of the sale, specify the assets being sold, establish the terms and conditions, and authorize specific individuals to execute the transaction. It protects the company by ensuring proper authorization and can be required by purchasers, banks, or regulatory bodies as evidence of valid corporate action.
