Section - 187B - Exercise of voting rights in respect of shares held in trust
[Exercise of voting rights in respect of shares held in trust.187B. (1) Save as otherwise provided in but notwithstanding anything contained in any other provisions of this Act or any other law or any contract, memorandum or articles, where any shares in a company are held in trust by a person (hereinafter referred to as trustee), the rights and powers (including the right to vote by proxy) exercisable at any meeting of the company or at any meeting of any class of members of the company by the trustee as a member of the company shall— (a) cease to be exercisable by the trustee as such member, and (b) become exercisable by the public trustee.(2) The public trustee may, instead of himself attending the meeting, and exercising the rights and powers, as aforesaid, appoint as his proxy an officer of Government or the trustee himself to attend such meeting and to exercise such rights and powers in accordance with the directions of the public trustee:Provided that where the trustee is appointed b .... To read the full section download the app from Google Play store
CAclubindia
