THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES

Division 5 - Proxies and body corporate representatives

SECTION 253A   VALIDITY OF PROXY VOTE  

253A(1)  Proxy vote valid even if member dies, revokes appointment etc.  

Unless the responsible entity 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 interest in respect of which the proxy was given.

This subsection applies to a registered scheme subject to the provisions of the scheme's constitution.

Note:

A proxy's authority to vote is suspended while the member is present at the meeting (see subsection 252W(3)).

253A(2)  Proxy vote valid even if proxy cannot vote as member.  

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.