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DUTIES ACT 1997 - SECT 95
Meaning of "voting entitlement"
95 Meaning of "voting entitlement"
(1) A person's voting entitlement in a corporation is that proportion of the
total voting rights of all shareholders entitled to vote at general meetings
of the corporation which the person is entitled to exercise, as a shareholder,
at general meetings of the corporation.
(2) A person is to be considered to
have a voting entitlement in a corporation (
"corporation A" ) if the person has a voting entitlement in another
corporation (
"corporation B" ) which itself has a voting entitlement in corporation A.
(3)
In a case to which subsection (2) applies, the person's voting entitlement in
corporation A is the proportion which results from multiplying the person's
voting entitlement in corporation B by corporation B's voting entitlement in
corporation A.
(4) If a person has a voting entitlement in the same
corporation under different provisions of this section, or under different
applications of the same provision of this section, the person's
voting entitlement in the corporation is the aggregate of those entitlements.
(5) In determining a person's voting entitlement for the purposes of this
section, proxies and other authorities to vote held by a shareholder are to be
disregarded.
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