A Board Resolution For Satisfaction Of Charge is a crucial corporate document required under UAE law when a company seeks to formally record the discharge of a security interest or charge over its assets. This document becomes necessary when a company has fully satisfied its secured obligations (typically a loan or financial facility) and needs to remove the registered charge from official records. The resolution must comply with UAE Companies Law (Federal Law No. 32 of 2021) and related regulations, containing specific details about the original charge, confirmation of debt satisfaction, and proper authorization for the discharge. It serves as evidence of proper corporate approval and is typically required by the UAE Registrar of Companies and other relevant authorities to process the removal of the charge. The document is particularly important in the UAE's civil law system, where formal documentation of corporate decisions is essential for legal validity.
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1. Company Details: Full legal name of the company, registration number, and registered office address
2. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum
3. Directors Present: List of directors attending the meeting and those absent
4. Background: Details of the original charge, date created, parties involved, and confirmation that all secured obligations have been satisfied
5. Resolutions: Formal board decisions regarding the satisfaction of charge and authorization for filing
6. Declaration: Formal statement confirming the board's decision and authority to satisfy the charge
7. Execution: Signature blocks for required directors/company secretary
1. Recital of Authority: Additional section establishing the board's authority under the articles of association - used when extra emphasis on authority is needed
2. Conditions Precedent: Include when the satisfaction of charge is subject to specific conditions being met
3. Related Party Disclosure: Required when any director has an interest in the charged assets or the transaction
4. Filing Instructions: Include when specific filing requirements with authorities need to be detailed
1. Schedule 1 - Details of the Charge: Complete details of the original charge including registration numbers and dates
2. Schedule 2 - Evidence of Debt Satisfaction: List of documents evidencing that the secured obligations have been satisfied
3. Appendix A - Copy of Original Charge Document: Certified copy of the original charge document being satisfied
4. Appendix B - Required Filing Forms: Relevant authority forms required for recording the satisfaction of charge
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Trading and Commerce
Construction
Energy and Resources
Technology
Transportation and Logistics
Healthcare
Retail
Relevant Teams
Legal
Finance
Corporate Secretariat
Compliance
Treasury
Risk Management
Corporate Governance
Board of Directors
Relevant Roles
Board Director
Company Secretary
Chief Financial Officer
Legal Counsel
Corporate Governance Officer
Compliance Manager
Finance Director
Risk Manager
Treasury Manager
Corporate Services Manager
Company Director
Managing Director
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