REGISTRATION OF REGISTERED PERSON
Here, we set out the procedure a company must follow in authorising a registered person to bind it, together with other relevant information.
Registered Person
A registered person is natural person who is entitled, with unlimited authority, to bind the company in the exercise of the powers of the company and to authorise others to do so.
Method of Authorisation
A registered person may be authorised as such only by a resolution of the board of directors; that is, by majority vote. However, in authorising the registered person, the directors are not permitted to impose a limit on the authority of the registered person, nor to impose a limit as to the class of transactions in which the registered person may bind the company.
Nature and Extent of Authorisation
Following authorisation, the registered person’s entitlement to bind the company, and to authorise others to do so, is a reference to the registered person’s authority to exercise any power of the company.
Revocation of Authorisation
Notification to Registrar of Companies