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A proxy is an agent legally authorized to act on behalf of another party or a format that allows an investor to vote without being physically present at the meeting.
Can a Director appoint a Proxy to attend a board meeting? Well, the answer is NO. A director can not appoint a proxy, who on behalf of the director can attend the meeting of the board of directors (board meeting).
A director could never appoint a proxy with a set of instructions on how to act on each issue that could arise and with their duty being personal and ongoing, could never be delegated to a proxy. Accordingly, directors are not permitted to appoint proxies.
What Is a Proxy? A proxy is an agent legally authorized to act on behalf of another party or a format that allows an investor to vote without being physically present at the meeting.
For # 1, simply put in your unit number, such as 1010 or 4. For # 2, print the name of the person to whom you are giving your proxy form. It can be a friend, a relative, a neighbour, or the manager, or the president of the condo, or a board member. It is preferable that this is a person you trust.
Members may authorize a proxy to speak or vote on their behalf. Proxies can vote by a show of hands or on an official ballot.
Directors or trustees cannot attend or vote by proxy at board meetings. A directors or trustee who has the potential interest in any related party transaction must recuse from voting on the approval of the related party transaction without prejudice to the compliance with the requirements of Section 31 of this Code.
A Proxy Form is a document by which a registered member of a company appoints another person (the proxy) to attend a company meeting and vote on the member's behalf.
There are very limited rights bestowed upon a proxy. He can attend the meeting for which he has been appointed. He can vote in the meeting only on a poll as per proviso to Section 105(1) of CA.
Some companies usually give a proxy form along with the Notice of Meeting for their members to fill out the form if they want to appoint a proxy to vote on their behalf. In this document, the member's name and address will be entered, as well as the name of the company and the full name of the proxy.