[COM 354] Appointing a proxy354 

354

(1) An appointment of a proxy is valid if it is signed by the member of the managed investment scheme making the appointment and contains the following information—

• (a)the member’s name and address;
• (b)the managed investment scheme’s name;
• (c)the proxy’s name or the name of the office held by the proxy; and
• (d)the meetings at which the appointment may be used.

(2) An undated appointment is taken to have been dated on the day it is given to the manager.

(3) An appointment may specify the way the proxy is to vote on a particular resolution and in cases where it does specify—

• (a)the proxy need not vote on a show of hands, but if the proxy does so, the proxy must vote that way; and
• (b)if the proxy has 2 or more appointments that specify different ways to vote on the resolution, the proxy must not vote on a show of hands.

(4) If a proxy is also a member, this section does not affect the way that the person can cast any vote they hold as a member.

(5) An appointment does not have to be witnessed.

(6) A later appointment revokes an earlier one if both appointments could not be validly exercised at the meeting.