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137.—(1) For the purposes of the Rules, a proxy is an authority given by a person (“the principal”) to another person (“the proxy-holder”) to attend a meeting and speak and vote as their representative.
(2) Proxies are for use at creditors’ or company meetings summoned or called under the 1986 Act or the Rules.
(3) Only one proxy may be given by a person for any one meeting at which they desire to be represented; and it may only be given to one person, being an individual aged 18 or over. But the principal may specify one or more other such individuals to be proxy-holder in the alternative, in the order in which they are named in the proxy.
(4) Without prejudice to the generality of paragraph (3) of this Rule, a proxy for a particular meeting may be given to whoever is to be the chair of the meeting.
(5) A person given a proxy under paragraph (4) of this Rule cannot decline to be the proxy-holder in relation to that proxy.
(6) A proxy requires the holder to give the principal’s vote on matters arising for determination at the meeting, or to abstain, or to propose, in the principal’s name, a resolution to be voted on by the meeting, either as directed or in accordance with the holder’s own discretion.
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