Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006

Existing Law

Proxies

Section 330: Notice required of termination of proxy’s authority

576.This section provides a default regulation to replace article 63 of Table A. This ensures that, subject to the articles, an appointed proxy’s actions at a meeting are valid unless notice of termination of the proxy’s authority is given before the meeting starts. The company’s articles may specify a longer advance notice period but this cannot be more than 48 hours in advance of the meeting (excluding weekends, Christmas Day, Good Friday and bank holidays).