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LML4806 Assignment 1 Semester 1 2025 | March 2025
With reference to the Companies Act 71 of 2008, case law and the facts above, advise Busi whether she can validly appoint a proxy to exercise her right to vote and to express her views at the annual general meeting of Strada (Pty) Ltd. Also consider in your answer whether clause 10.3 of the company’s Memorandum of Incorporation is a valid clause. Section 58 of the Companies Act 71 of 2008 grants a shareholder the right to appoint a proxy to participate, speak, and vote on their behalf at https://studypass.co.za/product/lml4806-assignment-1-semester-1-2025-march-2025/a shareholders’ meeting¹. This right applies unless the company’s Memorandum of Incorporation (MOI) states otherwise. Notably:Section 58(1)(a) states that a shareholder may appoint a proxy “at any time” by submitting a written and signed proxy form². Section 58(3)(c) allows shareholders to appoint multiple proxies to represent different shares³. Section 58(3)(a) confirms that a proxy is entitled to exercise all rights of the shareholder at the meeting⁴. Thus, in principle, Busi has the right to appoint a proxy.
Lungiswazi –
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