8.5. Proxies

8.5.1 For these 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 the principal’s representative.

8.5.2 Only 1 Proxy may be given by a Person for any meeting at which the Person wishes to be represented, and it may only be given to 1 Person who is an individual aged 18 years or older. But the principal may specify 1 or more other individuals aged 18 years or older to be proxyholder in the alternative, in the order in which they are named in the Proxy.

8.5.3 A Proxy for a particular meeting may be given to the Person who is to be the chair of the meeting.

8.5.4 A Person given a Proxy under subrule 8.5.3 cannot decline to be the proxy-holder in relation to the Proxy.

8.5.5 A Proxy requires the proxy-holder to give the principal’s vote on matters arising for decision at the meeting, 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 proxy-holder’s own discretion.

8.5.6 Proxies used for voting at any meeting must be kept by the chair of the meeting, and must be given, as soon as possible after the meeting, to the Responsible Insolvency Practitioner (if the chair is not the Responsible Insolvency Practitioner).