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 253B   BODY CORPORATE REPRESENTATIVE  

253B(1)  [Appointment of representative]  

A body corporate may appoint an individual as a representative to exercise all or any of its powers at a meeting of a registered scheme's members. The appointment may be a standing one.

253B(2)  [Content of appointment]  

The appointment must set out what the representative is appointed to do and may set out restrictions on the representative's powers. If the appointment is to be by reference to a position held, the appointment must identify the position.

253B(3)  [More than 1 representative]  

A body corporate may appoint more than 1 representative but only 1 representative may exercise the body's powers at any one time.

253B(4)  [Representative's powers]  

Unless otherwise specified in the appointment, the representative may exercise, on the body corporate's behalf, all of the powers that the body could exercise at a meeting or in voting on a resolution.