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TMI BlogExercise of voting rights in respect of shares held in trust.X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f in his opinion the objects of the trust or the interests of the beneficiaries of the trust are not likely to be adversely affected by such abstention. (4) If for any reason the trustee considers that the public trustee should not abstain from exercising the rights and powers conferred on him by this section and the exercise of such rights and powers is necessary in order to safeguard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [2] [(7) The provisions of this section shall not apply on and after the commencement of the Companies (Amendment) Act, 2000.] ------------------------------------- Notes:- [1] Inserted by the Companies (Amendment) Act, 1963, Act 53 of 1963, section 8, w.e.f. 1-12-1964. [2] Inserted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. - - statut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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