10AAuthority for Minister to act for and on behalf of a voting shareholder

10A Authority for Minister to act for and on behalf of a voting shareholder

10A Authority for Minister to act for and on behalf of a voting shareholder

(1) A voting shareholder of a company SOC may authorise any Minister to act for and on behalf of the voting shareholder in his or her capacity as a voting shareholder while he or she is unavailable (by reason of his or her absence or disability or for any other reason).

(2) If a Minister is authorised under this section to act for and on behalf of a voting shareholder, any function of a voting shareholder may, while the authority remains in force, be exercised from time to time by the Minister instead of by that voting shareholder. However, the Minister authorised under this section may not exercise the function of authorising another Minister under this section.

(3) Any act, matter or thing done or omitted to be done by a Minister while acting for or on behalf of a voting shareholder pursuant to an authority under this section is to be as valid and have the same consequences as if the act, matter or thing had been done or omitted to be done by that voting shareholder.

(4) A Minister who purports to act for or on behalf of a voting shareholder is presumed, until the contrary is proved, to be authorised under this section.

(5) An authority under this section may be revoked by the voting shareholder who granted it, or by the Premier.

(6) An authority under this section operates until—

(a) the end of the term specified in the authority, or

(b) the authority is revoked, or

(c) the voting shareholder who granted the authority ceases to be a voting shareholder, or

(d) by virtue of this or any other Act, the Minister authorised under the authority becomes a person who cannot be a voting shareholder of the company SOC,

whichever occurs first.

(7) In the constitution of the company SOC of which the Minister is a voting shareholder, and in any Act or instrument, a reference to a voting shareholder under this Act includes a reference to any Minister who is acting for or on behalf of a voting shareholder pursuant to an authority under this section.

(8) A Minister may be authorised under this section by reference to his or her name or by reference to the title of the office that he or she holds as Minister.