A Board Resolution For Approval Of Shareholders Agreement is a crucial corporate document required under Malaysian law when a company's board of directors needs to formally approve a shareholders agreement. This document is typically used when implementing new shareholder arrangements, admitting new shareholders, or modifying existing shareholder relationships. It must comply with the Companies Act 2016 and Malaysian corporate governance requirements, including proper meeting procedures and authorization protocols. The resolution details the board's consideration of the shareholders agreement, records their approval, and authorizes specific individuals to execute the agreement on behalf of the company. It serves as evidence that proper corporate procedures were followed and provides protection for both the company and its officers in implementing the shareholders agreement.
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1. Title and Date: Formal title of the document stating it is a Board Resolution with the date of the meeting
2. Company Details: Full legal name and registration number of the company
3. Attendance: List of directors present and absent, confirmation of quorum
4. Chairperson: Identity of the person chairing the meeting
5. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met
6. Background: Brief context about the proposed shareholders agreement and why it requires board approval
7. Tabling of Documents: Formal presentation of the shareholders agreement and related documents for board consideration
8. Deliberation: Record of the board's consideration of the shareholders agreement
9. Declaration of Interests: Disclosure of any directors' interests in the proposed shareholders agreement
10. Resolution: The formal resolution text approving the shareholders agreement and authorizing its execution
11. Authorization: Specific authorization for designated persons to execute the agreement and related documents
12. Closure: Formal closing of the resolution with signature requirements
1. Conditions Precedent: Used when the board's approval is subject to certain conditions being met
2. Special Instructions: Include when specific implementation instructions need to be recorded
3. Related Party Transactions: Required when the shareholders agreement involves related party transactions
4. Regulatory Compliance Statement: Include when specific regulatory requirements need to be addressed
5. Dissenting Opinions: Used when any directors wish to record their disagreement with the resolution
6. Implementation Timeline: Include when specific timing requirements need to be documented
1. Draft Shareholders Agreement: The full text of the shareholders agreement being approved
2. Board Paper: Supporting document explaining the rationale and terms of the shareholders agreement
3. Legal Opinion: If obtained, legal advice regarding the shareholders agreement
4. Company Constitution Extract: Relevant sections of the company constitution regarding execution of shareholders agreements
5. Powers of Attorney: If required, documents delegating signing authority
6. Related Agreements: Any other agreements referenced in or connected to the shareholders agreement
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