sec.131Voting rights of first mortgagees

### sec.131 Voting rights of first mortgagees Where a proprietor’s interest is subject to a registered first mortgage notice of which has been given pursuant to section 53 to the body corporate, the power of voting conferred upon a proprietor by or under this Act— where a unanimous resolution is required—shall be exercised by the mortgagee and shall not be exercised by the proprietor; or in other cases—may be exercised by the proprietor unless the mortgagee, or where a mortgagee is a corporation, the company nominee of the corporation, is present personally or by proxy whereupon the mortgagee, or as the case may be, the company nominee may exercise the power of voting personally or by proxy and, if the mortgagee or company nominee does so, the proprietor shall not exercise that power. s 131 sub 1988 No. 23 s 78 amd 2022 No. 28 s 48 sch 1 - (a) where a unanimous resolution is required—shall be exercised by the mortgagee and shall not be exercised by the proprietor; or - (b) in other cases—may be exercised by the proprietor unless the mortgagee, or where a mortgagee is a corporation, the company nominee of the corporation, is present personally or by proxy whereupon the mortgagee, or as the case may be, the company nominee may exercise the power of voting personally or by proxy and, if the mortgagee or company nominee does so, the proprietor shall not exercise that power.