FRONT END: PROXIES IN AN HOA: TIMING AN ISSUE?
Du Plessis Barry v Clearwater Estates NPC and Others (187/2016)  ZASCA 11
(16 March 2017)
This matter raised an interesting enquiry regarding proxies. The HOA was incorporated as a company and its Memorandum of Incorporation provided that when members appointed proxies, a written document to that effect had to be lodged at the HOA’s offices ‘not less than 48 hours before the time appointed’ for the meeting, failing which it would be invalid. The query raised here was whether this provision, and a decision taken at a meeting held after a late proxy was accepted, was inconsistent with the provisions of the Companies Act. Section 58(1) of the latter Act states that a shareholder of a company may appoint a proxy ‘at any time’, this being an unalterable provision.
STBB’S STSMA REFERENCE GUIDE
In this, the eighteenth set of notes for your STSMA Reference Guide, regulation 2 of the Act is discussed.
(N.B. Print in landscape)