Question
The Division 7A Loan Agreement has listed only 2 Directors for signing. Is this the standard? Can we list all of the company's Directors or at least choose the signatories?
Answer
One way that a company may execute a document is by having 2 directors sign the document on behalf of the company pursuant to the Corporations Act. As the most reliable and straightforward way for a company to validly execute the document, our Division 7A Loan Agreement follows this method and provides signature lines for 2 directors (or director/secretary, or sole director).
If you would like to make any amendments to the execution pages, you can make a request by contacting us.
Note: Please seek the relevant advice regarding execution first as we will not review any associated legalities, nor do we provide any form of legal advice. If you would like legal advice, we can refer you across to our legal services provider where a solicitor can assist on a fee-for-service basis.
Note: If you choose to have the signature lines amended, you will not be able to send the document for e-signing due to system restrictions.
General Disclaimer regarding electronic signing -
Please seek your own legal advice before using E-Signature functionality to execute this document as the laws and requirements in relation to electronic execution (including witnessing requirements, where applicable) may differ depending on the type of document, jurisdiction and other circumstances. You need to ensure the document is correctly executed otherwise it may not be valid and enforceable. NowInfinity Pty Ltd takes no responsibility for ensuring that documents are executed correctly.