Resolution

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na
54 Points Posted on 14 June 2020
In a company Director wants to purchase a commercial vehicle (such as Pick up)for the business operations of the company. It does not require any finance from the financing org. then whether the company is require to pass any resolution in the meeting to get into this trandaction.
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On 14 June 2020 at 06:50 Report
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A director wishes to purchase a commercial vehicle for business operations without requiring company finance. While not strictly mandatory for fixed asset purchases, passing a board resolution is highly advisable. This ensures clarity and avoids potential misunderstandings regarding transactions made by a director acting independently.

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Student
1321 Points Posted on 14 June 2020
Purchase of a fixed asset doesn't require resolution.
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On 14 June 2020 at 17:02
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PCS
56 Points Posted on 30 June 2020
IT IS REFERABLE AND SAFER TO PASS A BOARD RESOLUTION TO THE EFFECT OF PURCHASE OF COMMERCIAL VEHICLE SO AS TO AVOID ANY MISGIVINGS IN THE TRANSACTION DONE BY A DIRECTOR ON HIS OWN
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On 30 June 2020 at 19:11
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PCS
56 Points Posted on 30 June 2020
PL READ THE "REFERABLE " AS "PREFERABLE" IN MY REPLY JUST FURNISHED
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On 30 June 2020 at 19:12

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