Document background
A Board Resolution For Waiver of Loan is a crucial corporate document used when a company decides to forgive a debt owed to it or have its own debt forgiven. Under Singapore law, this resolution must be properly documented to ensure compliance with the Companies Act and protect the interests of shareholders and directors. The resolution typically includes details of the original loan, justification for the waiver, confirmation that the company's solvency is not affected, and proper authorization by the board. It's particularly important in group company structures, debt restructuring scenarios, or when converting debt to equity.
