Who can appoint a proxy (replaceable rule for proprietary companies and mandatory rule for public companies—see section 135)
249X Who can appoint a proxy (replaceable rule for proprietary companies and mandatory rule for public companies—see section 135)
A member of a company who is entitled to attend and cast a vote at a meeting of the company’s members may appoint a person as the member’s proxy to attend and vote for the member at the meeting.
The person appointed as the member’s proxy may be an individual or a body corporate.
A body corporate may appoint a representative to exercise the powers that the body corporate may exercise as the member’s proxy, see section 250D.
The appointment may specify the proportion or number of votes that the proxy may exercise.
Each member may appoint a proxy. If the member is entitled to cast 2 or more votes at the meeting, they may appoint 2 proxies. If the member appoints 2 proxies and the appointment does not specify the proportion or number of the member’s votes each proxy may exercise, each proxy may exercise half of the votes.
Disregard any fractions of votes resulting from the application of subsection (2) or (3).
This Act’s bill:Explanatory memorandumSecond reading speech
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