CORRESPONDENCE

Hawera & Normanby Star, Volume XLI, Issue XLI, 11 August 1921, Page 8

CORRESPONDENCE

PROXY VOTING

(To the Editor.)

Sir, —The chairman of the Normanby Dairy Company must Be either misinformed or misreported when he. is reported to have said at the annual meeting that it was not legal for the company to do away with proxy voting. The chairman seems to voice a general" impression among company shareholders when he makes this statement. The law, however, is quite clear that the privilege! of voting by proxy is not an inherent right of membership of a company, but is one that is conferred only by special permission. In case anyone should wish to take me up on this point, let me state that I am well; acquainted with the provisions ot labie A..' It is quite competent to any company to adopt or to exclude proxy voting. I Enow of more than one company that has excluded it From what one knows of the administration of some companies—l make no comment on the Normanby, Company—it would appear a good thing for them to drop proxy voting, bu€ this is only a matter of opinion As to their legal right there can be no two opinions.—l am,

BUSH LAWYER