Companies Act 2014 section 1108

Provisions concerning appointment of proxies

Section 1108 sets out special rules for the appointment of proxies in traded public limited companies (PLCs), including enhanced rights to appoint multiple proxies, electronic appointment methods, and restrictions on how a traded PLC's constitution may limit proxy eligibility.

• Members of a traded PLC may appoint more than one proxy where shares are held in different securities accounts, and intermediaries may grant a separate proxy to each client
• Members have the right to appoint proxies electronically, and the traded PLC must offer at least one effective electronic method for doing so
• Formal requirements for proxy appointment and voting instructions must be limited to what is necessary and proportionate for identification and verification purposes
• A traded PLC's constitution cannot restrict who may be appointed as a proxy, other than requiring that the proxy has legal capacity