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What is a irrevocable proxy?

What is a irrevocable proxy?

An enforceable power granted by the owner to another party to exercise his voting rights independently without requiring his consent.

Can an irrevocable proxy be revoked?

Even an “irrevocable” proxy can sometimes be revoked. When the special interest in his/her position ends – which played a role in making the proxy irrevocable – the proxy can be revoked; In general, most shareholders vote by proxy in publicly held corporations.

What is a proxy person?

\ ˈpräk-sē \ plural proxies. Essential Meaning of proxy. 1 : a person who is given the power or authority to do something (such as to vote) for someone else Since I wouldn’t be available to vote, I nominated him to act as my proxy. 2 : power or authority that is given to allow a person to act for someone else.

What is a legal proxy?

A person designated by another to attend a shareholders’ meeting and vote on their behalf. A proxy can be revoked at any time by the grantor, unless it has been coupled with an interest.

What is a proxy coupled with an interest?

It is uunderstood and agreed by the Grantee that this proxy is being given as a material part of the consideration for the consummation of the Mergers and that the consummation of the Mergers is conditioned upon the execution and delivery of this Agreement. …

What is proxy agreement?

A proxy agreement is a written agreement that one person can act legally on behalf of another. In the case of shareholder votes, the proxy agreement states that a proxy can vote on behalf of the principal.

What is a proxy relationship?

Myth #2: Proxy relationships link state sponsors only with non-state surrogates. Proxy relationships are commonly seen as arrangement in which state sponsors work through non-state proxies, typically rebel or insurgent groups. But proxy relationships can be forged between a variety of actor types.

What does proxy mean in psychology?

a variable, b, used in place of another, a, when b and a are substantially correlated but scores are available only on variable b, often because of the difficulty or costs involved in collecting data for variable a.

What is a proxy crime?

‘Proxy crimes’ is a phrase loosely used to refer to conduct which is punished only as a means to target another, harmful, conduct. Finally, in light of our analysis, we present and discuss a specific affirmative defense that can be made available to defendants charged with a proxy crime.

What are the rights and duties of a proxy?

There are very limited rights bestowed upon a proxy. He can attend the meeting for which he has been appointed. He can vote in the meeting only on a poll as per proviso to Section 105(1) of CA. If he fulfils the eligibility under Section 109 of CA, then the proxy may even demand a poll as a matter of right.

Why does a power of attorney need to be coupled with an interest?

A “Power Coupled With An Interest” is an ancient legal concept that is different from an ordinary power of attorney. This type of power is to protect the agent’s interest. It does not create an agency, because it is not given for the benefit of the person who grants it. The holder does not owe any duty to the creator.

What does it mean for a power of attorney to be coupled with an interest?

Power coupled with an interest means a power to do some act, delivered along with an interest in the subject matter of the power. A naked power exists when authority is given to a stranger to dispose of an interest, in which s/he had not before, nor has, by the instrument creating the power, any estate.

What is a revocable proxy object?

It can be any sort of object, including a native array, a function, or even another proxy. An object whose properties are functions define the behavior of proxy p when an operation is performed on it. A newly created revocable Proxy object is returned. A revocable Proxy is an object with following two properties {proxy: proxy, revoke: revoke} .

What happens when a proxy is revoked?

Once a proxy is revoked, it will remain revoked and can be garbage collected. Calling revoke () again has no effect.

What does it mean when something is revocable?

Revocable means able to be revoked —taken back, withdrawn, or cancelled. Revoke and revocable are typically used in the context of officially taking back or cancelling some kind of right, status, or privilege that has already been given or approved. Passports and laws are revocable, for example.

What is the root word of revoke?

Its base word, revoke, ultimately derives from the Latin verb revocāre, which means “to call back” or “to withdraw” and is a combination of re-, meaning “back” or “again,” and vocāre, “to call.” Vocāre is also the root of words like invoke, evoke, and provoke.

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