The Board Resolution For Opening Of Suspense Escrow Demat Account is a crucial corporate document required in Malaysia when companies need to establish specialized securities accounts for holding shares or other securities in a dematerialized format under specific conditions or restrictions. This document is typically needed during corporate actions, IPOs, share transfer restrictions, or when maintaining securities in escrow pending certain conditions or regulatory requirements. The resolution must comply with Malaysian corporate law, including the Companies Act 2016 and Securities Commission regulations, and typically includes detailed specifications about account operations, authorized personnel, and compliance requirements. It serves as the primary authority document for financial institutions and depository participants to open and maintain such accounts.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Preamble: Standard recital stating the meeting details, quorum presence, and chairperson
3. Background: Brief context explaining the need for opening the suspense escrow demat account
4. Account Authorization: Resolution to open the suspense escrow demat account with specified depository participant
5. Account Details: Specific details about the type of account and its intended purpose
6. Authorized Signatories: Designation of authorized persons to operate the account and their powers
7. Operational Guidelines: Basic parameters for account operation and transaction limits
8. Compliance Declaration: Statement of compliance with relevant laws and regulations
9. Certification: Signature block for company secretary or director certifying the resolution
1. Special Instructions: Additional specific instructions for account operation, used when there are unique requirements or restrictions
2. Reporting Requirements: Specific reporting obligations, included when required by internal policies or regulatory requirements
3. Term and Review: Period of validity and review requirements, used when the authorization needs periodic renewal
4. Digital Access Authorization: Authorization for digital/online access to the account, included when online banking facilities are required
1. Schedule A - List of Authorized Signatories: Detailed list of authorized persons with their specimen signatures and authority limits
2. Schedule B - KYC Documents: List of required Know Your Customer documents to be submitted
3. Schedule C - Account Operating Instructions: Detailed operational procedures and signing matrix
4. Appendix 1 - Board Members Present: List of board members present at the meeting with their details
5. Appendix 2 - Regulatory Compliance Checklist: Checklist confirming compliance with relevant regulatory requirements
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Securities and Investment
Corporate Services
Legal Services
Manufacturing
Real Estate
Technology
Healthcare
Energy
Telecommunications
Construction
Mining
Relevant Teams
Legal
Finance
Corporate Secretarial
Compliance
Treasury
Corporate Governance
Risk Management
Investment
Board Secretariat
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Compliance Officer
Finance Director
Corporate Secretary
Board Director
Treasury Manager
Accounts Manager
Corporate Governance Officer
Risk Management Officer
Investment Manager
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