Is this section not a little bit unnecessarily complicated in relation to, say, a trustee company ? Every time there is a general meeting or a meeting of any company in respect of which it holds shares, it has to have a formal resolution of its board. Could we not provide that a company could resolve that the general manager A or, failing him, the assistant general manager B or, failing him, the general manager C should act as proxy at a meeting of any company of which they were shareholders?
SECTION 139.
Question proposed : " That Section 139 stand part of the Bill."
That might be allowable under it as it stands.
I think it is permissible under the law.
I think so. It does not say it has to be done every time there is a meeting.
I would feel happier if it said either generally or for a particular case. It would be clear beyond question then that it could be done.
That is something we could look into.
The 1908 Act uses the word " company." In this section you use the word " body corporate." Is there any reason for the change?
If you use the expression " company ", you cover only a limited range of bodies corporate. It is better to be comprehensive and to give the power to any body corporate which is a member of a company.
In other words, if Naas Urban Council has shares in a company, this section would give them the power to do it, whereas if we use the word " company " it would not ?
That would be the idea behind it.
Question put and agreed to.