SIOG6420 | Investigation work: mandates: types of mandate

Mandates may be specific or general but blank mandates should not be sought. Specific mandates may be addressed not only to banks and other financial institutions but also to trade customers, suppliers, and so on.

General mandates should not be used to approach banks and financial institutions. A specific mandate should be sought for each bank or financial institution.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

Guidance on the use of bank mandates can be found at CH227100. A specimen bank mandate is available at TTOG10065.

Where the bank account requires multiple signatures for transactions to take place, for example two out of three authorised signatories, the same minimum number is required on the mandate.A single signature on the mandate, for a multiple signature account, is insufficient for the bank to release information.