Full legislation
s.138
Holder of proxy not to vote on matter in which he is financially interested
138.
Holder of proxy not to vote on matter in which he is financially
interested
No person acting either under a general or a special proxy shall vote in favour of
any resolution which would directly or indirectly place himself, his partner or employer
in a position to receive any remuneration out of the assets of the company otherwise
than as creditor rateably with the other creditors of the
company:
Provided that where any person holds
special proxies to vote for an application to the court in favour of the appointment of
himself as liquidator he may use the said proxies and vote accordingly.