# The Insolvency (England and Wales) Rules 2016, Rule 16.7: Proxy-holder with financial interest


(1) A proxy-holder must not vote for a resolution which would—
(a) directly or indirectly place the proxy-holder or any associate of the proxy-holder in a position to receive any remuneration, fees or expenses from the insolvent estate; or
(b) fix or change the amount of or the basis of any remuneration, fees or expenses receivable by the proxy-holder or any associate of the proxy-holder out of the insolvent estate.
(2) However a proxy-holder may vote for such a resolution if the proxy specifically directs the proxy-holder to vote in that way.
(3) Where an office-holder is appointed as proxy-holder and that proxy is used under rule 16.5(2) by another person acting as chair, the office-holder is deemed to be an associate of the person acting as chair.

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Source: https://www.legislation.gov.uk/uksi/2016/1024/rule/16.7 (the official version)
Page: https://openlegislation.uk/insolvency-england-and-wales-rules-2016/rule-16.7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.