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A Board Resolution For Removal Of Authorised Signatory In Bank Account is a crucial corporate governance document used when a company needs to officially remove someone's authority to conduct banking transactions on behalf of the organization. This document is particularly important in the Canadian business context, where it must comply with both federal legislation (such as the Canada Business Corporations Act and Bank Act) and provincial corporate laws. The resolution is typically required when an authorized signatory leaves the organization, changes roles, or when the company wishes to modify its banking arrangements. It provides the bank with formal documentation of the board's decision and includes essential details such as the company information, specific bank account details, the signatory being removed, and the effective date of the removal. This resolution is a key component of maintaining proper corporate governance and ensuring smooth banking operations.

1. Title and Date: Formal title of the resolution and date of the board meeting

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

3. Attendance and Quorum: List of directors present and confirmation of meeting quorum

4. Background: Brief context explaining the need for removing the authorized signatory

5. Bank Account Details: Specific details of the bank account(s) affected, including account numbers

6. Signatory Details: Full name and position of the signatory being removed

7. Resolution Statement: Formal statement of the board's decision to remove the signatory

8. Effective Date: Date from which the removal becomes effective

9. Authorization: Statement authorizing specific officers to execute necessary documents

10. Certification: Declaration of the resolution's authenticity by the Board Secretary/Chairman