Version Superseded: 19/03/2024
Point in time view as at 01/11/2009. This version of this provision has been superseded.
There are currently no known outstanding effects for the The Water Industry (Special Administration) Rules 2009, Section 66.
66.—(1) In this rule, subject to paragraph (4), “associate” has the same meaning as in section 435 of the Insolvency Act.
(2) A proxy-holder must not vote in favour of a resolution that would directly or indirectly place the proxy-holder, or an associate of the proxy-holder, in a position to receive remuneration out of the assets of the water company concerned, unless the form of proxy specifically directs the proxy-holder to vote in that way.
(3) If a proxy-holder holds a form of proxy that has been signed by that proxy-holder on behalf of the principal under an authority given by the principal under rule 63(4), and the form of proxy specifically directs the proxy-holder to vote in the way referred to in paragraph (2), the proxy-holder must nevertheless not vote in that way unless the proxy-holder shows the person presiding at the meeting the principal's written authorisation for the proxy-holder to have signed the form of proxy.
(4) For the purposes of paragraph (2), if a person other than the special administrator presides at a meeting, and uses forms of proxy of the special administrator in the circumstances set out in rule 63(2), the special administrator is taken to be an associate of the person presiding at the meeting.
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