Legal Entity Identifier l LEI l Change in authorized official/authorized signatory on LEI Portal l Letter of Authority for Legal Entity Identifier l

Ever wondered how can you change the authorized signatory/authorized official on the website of the Legal Entity Identifier India Limited. 

It is a general practice to authorize the employees of the company to undertake various statutory registrations and compliances. However, companies often feel stuck when their authorized employees leave the organization. 

In today's blog, we will help you with the procedure to change the authorized signatory/authorized official of the company on the LEI Portal. 

1) Board's Authorization

The first and foremost step for changing the authorized signatory is to get the approval of the board for revoking the authorization granted to the existing employee (who is leaving the organization) and to authorize another official in this regard. This can be done in a duly convened board meeting or by way of a circular resolution.

2) Execution of Letter of Authority

Once the board has authorized another official of the company, a "Letter of Authority" needs to be executed for intimating the change to the operations team of the LEI.

The format of the Letter of Authority is given below for your ready reference.

3) Registration 

After receiving authorization from the board, a new account needs to be created on the LEI portal with the Email Id of the new authorized signatory. 

4) Submission of documents

After execution of the aforesaid documents and creation of an account with the email id of the new signatory, the change needs to be intimated to the operations team of the LEI via email at "lei@ccilindia.co.in". Don't forget to attach the authorization letter & resolution of the board in the email. Further, kindly also mention the email id of the signatory through which the account is created on the LEI Portal, in order to ensure faster processing.

4) Confirmation 

The operations team of LEI will process the request and send a confirmation email once the change has been taken note of.

Format of the Letter of Authority

"To,

Legal Entity Identifier India Ltd.

CCIL Bhavan,

S. K. Bole Road,

Dadar (West),

Mumbai - 400 028

 

Subject: Letter of Authority for obtaining a Legal Entity Identifier

Dear Madam / Sir,

We, on behalf of [Name of entity] hereby authorize [Name of Person], who is a [Insert Designation] at [Name of Entity] to apply/avail other services for Legal Entity Identifier to the Legal Entity Identifier India Limited.

 

The contact details of the authorized official, which can be used for the purpose of any and all correspondence pertaining to this application, are as follows:

  Email:

Phone:

 

Yours faithfully,

For and on behalf of

 

[Insert signature of the authorized signatory] [Along with the rubber stamp of the Company]

 

[Insert name of Authorized Signatory]

 

[Designation]"