# The Postal Administration (Scotland) Rules 2016, Article 77: Proxy-holder with financial interest

Extent: S

(1) A proxy-holder shall not vote in favour of any resolution which would directly or indirectly place the proxy-holder, or any associate of the proxy-holder, in a position to receive any remuneration out of the assets of the company, unless the proxy specifically directs the proxy-holder to vote that way.
(2) Where a proxy-holder has signed the proxy as being authorised to do so by the proxy-holder’s principal and the proxy specifically directs the proxy-holder to vote in the way mentioned in paragraph (1), the proxy-holder shall nevertheless not vote in that way unless the proxy-holder produces to the chair of the meeting written authorisation from proxy-holder’s principal sufficient to show the proxy-holder was entitled so to sign the proxy.
(3) This Rule applies also to any person acting as chair of a meeting and using proxies in that capacity in accordance with Rule 74(3); and in the application of this Rule to any such person, the proxy-holder is deemed an associate of that person.

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Source: https://www.legislation.gov.uk/uksi/2016/900/article/77 (the official version)
Page: https://openlegislation.uk/postal-administration-scotland-rules-2016/article-77
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.