Glossary
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Signatory rules
The signatory rules (authority to sign, definition of powers and responsibilities) determine who is responsible for what kind of the association’s affairs, who may make financial commitments to what amount and who may withdraw money from the postal or bank account. In general, each committee member is entitled to act for the association and to make commitments on its behalf. The signatory rules will only take effect with the entry in the commercial register. The Commercial Register Ordinance requires the designation of the names of the persons authorised to sign and the indication as to whether individual or joint signatures are required.
