Updating company signatory rules

In the dynamic landscape of corporate governance, the necessity to update company signatory rules occasionally arises. Such updates may be required due to changes in personnel, alterations in policy, or shifts in operational protocols. This article provides a comprehensive guide on how to effectively implement these updates for existing clients.

To begin the process of updating signatory rules, kindly submit the latest Corporate transcripts with information regarding the authorized signatories, Board Resolution, or a signatory booklet. If none of these are available, the signing rules may be provided by the client and signed by the company secretary or equivalent. The document should contain the list of individuals who are able to legally bind the company, and how they are able to bind it (e.g. sole or joint signature). The documents provided should be issued within the past 6 months.

Please note

The submitted documentation must be certified and include specimen signatures. 

When new signatories are expected to act on behalf of the company, it is imperative to provide Proof of Identity (POI) for these individuals. This documentation is essential in maintaining the integrity of the company's operations and ensuring compliance with relevant regulations. The submission of POI verifies the identity of the new signatories and their authority within the organizational structure. 

Please view the following specifying the POI requirements 

When creating a case to update signatory rules, specific details must be clearly stated to facilitate the review and implementation process. These include:

1. Changes to be Made: Clearly outline what modifications need to occur. This might involve the removal of an existing signatory or the addition of a new one. Providing detailed information ensures that the case is processed efficiently.
2. Changes to Signatory Rules: Specify any alterations to the existing signatory rules. For example, the rules may change from requiring two signatures to only one. Such details are critical as they directly impact the governance and operational procedures of the company.

Once all the information has been gathered then please submit the documentation and the POIs of the new signatories by creating a new case to Existing Corporate Clients.