BOARD RESOLUTION OF [YOUR COMPANY NAME] AMENDING THE SIGNING OF CHEQUES
DULY PASSED ON [DATE]
AMENDING THE SIGNING OF CHEQUES
WHEREAS, on [DATE], the Directors approved “Authorising The Signing Of Cheques”, adopting a Policy for Signing Cheques (the “Policy”); and
WHEREAS, on [DATE], the Budget and Finance Committee of the Board, determined that the Policy should be amended to grant the [POSITION] cheque signing authority and increase the authority level of the [POSITION], and discussed and recommended approval of the amendment;
RESOLVED, that the Board hereby amends the Cheque Signing Policy in the form attached hereto as Appendix A and the amendment shall supersede the current Policy, effective immediately.
RESOLVED FURTHER, that the officers of [YOUR COMPANY NAME] are, and each acting alone is, hereby authorised and directed to take such further action as may be necessary, appropriate or advisable to implement this resolution and amendment and any such prior actions are hereby ratified; and
We, the undersigned, hereby certify that [YOUR COMPANY NAME] is comprised [NUMBER] members, of whom [NUMBER], constituting a quorum, were present at a meeting duly and regularly called, noticed, convened and held this [DAY] day of [MONTH, YEAR], and that the foregoing Resolution was duly adopted at said meeting by the affirmative vote of [NUMBER] members, and opposed by [NUMBER] members, and that said Resolution has been duly recorded in the Minute Book and is in full force and effect.
[DIRECTOR]
[DIRECTOR]
[DIRECTOR]
APPENDIX A
[YOUR COMPANY NAME]
CHEQUE SIGNING POLICY
Cheques up to R10,000 Must be signed by any of the following: Chair, Vice-Chair, Executive Director, Director of Finance, or Controller.
Cheques from R10,001 to R100,000 Must be signed by both (1) either the Chair, Vice-Chair or Executive Director and (2) either the Director of Finance or Controller.
Cheques from R100,001 to R500,000 Must be signed by any two of the following: Chair, Vice-Chair, Executive Director or Director of Finance.
Cheques over R500,000 Must be signed by both (1) either the Chair or Vice-Chair and (2) the Executive Director or Director of Finance.
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