Companies Act 2014 section 164

Signing, drawing, etc., of negotiable instruments and receipts

Section 164 deals with who may sign or otherwise execute negotiable instruments and receipts on behalf of the company, and how the directors authorise that process.

• All cheques, promissory notes, drafts, bills of exchange and other negotiable instruments must be properly executed by authorised persons.
• Receipts for moneys paid to the company are also covered by this requirement.
• The directors determine, by resolution, which person or persons are authorised to sign, draw, accept, endorse or otherwise execute these instruments and receipts.
• The directors may update or change these authorisations from time to time as they see fit.