Proxies

29.  The terms of a scheme must–

(a) require the instrument appointing a proxy to be in writing and executed by or on behalf of the appointor;

(b) require the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed or a notarially certified copy of such power or authority to be deposited at such place as may be directed in the notice convening the meeting or if no such place is appointed then at the registered office or principal place of business in the United Kingdom of the trustee, in the case of a trust based scheme, or of the operator, in the case of a corporate based scheme, within such period as may be specified in the documents constituting the scheme before the time appointed for holding the meeting or adjourned meeting (or, in the case of a poll, before the time appointed for the taking of the poll) at which the person named in the instrument proposes to vote and in default the instrument of proxy must not be treated as valid;

(c) specify that no instrument for appointing a proxy is valid after the expiration of twelve months from the date named in it as the date of its execution;

(d) specify that a person appointed to act as a proxy need not be a participant;

(e) require an instrument of proxy to be in the usual common form or in any other form approved by the trustee, in the case of a trust based scheme, or by the operator, in the case of a corporate based scheme; and

(f) specify that a vote given in accordance with the terms of an instrument of proxy is valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or of the authority under which the proxy was executed or the transfer of the units in respect of which the proxy is given provided that no notice of such death, insanity, revocation or transfer has been received by the trustee, in the case of a trust based scheme, or by the operator, in the case of a corporate based scheme, at the place appointed for the deposit of proxies before the commencement of the meeting or adjourned meeting at which the proxy is used.