250C

Validity of proxy vote

In force

Proxy vote valid even if proxy cannot vote as member

(1)

A proxy who is not entitled to vote on a resolution as a member may vote as a proxy for another member who can vote if their appointment specifies the way they are to vote on the resolution and they vote that way.

Proxy vote valid even if member dies, revokes appointment etc. (replaceable rule—see section 135)

(2)

Unless the company has received written notice of the matter before the start or resumption of the meeting at which a proxy votes, a vote cast by the proxy will be valid even if, before the proxy votes:

(a)

the appointing member dies; or

(b)

the member is mentally incapacitated; or

(c)

the member revokes the proxy’s appointment; or

(d)

the member revokes the authority under which the proxy was appointed by a third party; or

(e)

the member transfers the share in respect of which the proxy was given.

Note:

A proxy’s authority to vote is suspended while the member is present at the meeting (see subsection 249Y(3)).

This Act’s bill:Explanatory memorandum Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.