PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES
Division 5 - Proxies and body corporate representatives
SECTION 253BBODY 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 one representative]
A body corporate may appoint more than 1 representative but only 1 representative may exercise the body's powers at any one time.
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.