LML4806
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
Can Busi Validly Appoint a Proxy to Attend the AGM and Express Her Views?
Based on the provisions of the Companies Act 71 of 2008 and the facts presented, Busi can appoint
a proxy to attend the Annual General Meeting (AGM) and vote on her behalf, as long as she complies
with the requirements set out in the company’s Memorandum of Incorporation (MOI). According
to the MOI in Clause 10.3, an instrument appointing a proxy must be submitted to the Transfer
Secretaries or the Chairperson of the Company at least 48 hours before the commencement of the
AGM.
In this case, since Busi realizes she will be unable to attend the meeting due to an emergency and
only has two hours before the meeting to appoint a proxy, she cannot validly appoint a proxy at
this late stage, because it falls outside the 48-hour requirement stipulated in the MOI.
However, Section 57(4) of the Companies Act provides that a shareholder can appoint a proxy by
submitting the appointment at a reasonable time before the meeting, and that the company’s MOI
or rules may set a different timeframe. Since Busi is aware of the 48-hour notice requirement in the
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
Can Busi Validly Appoint a Proxy to Attend the AGM and Express Her Views?
Based on the provisions of the Companies Act 71 of 2008 and the facts presented, Busi can appoint
a proxy to attend the Annual General Meeting (AGM) and vote on her behalf, as long as she complies
with the requirements set out in the company’s Memorandum of Incorporation (MOI). According
to the MOI in Clause 10.3, an instrument appointing a proxy must be submitted to the Transfer
Secretaries or the Chairperson of the Company at least 48 hours before the commencement of the
AGM.
In this case, since Busi realizes she will be unable to attend the meeting due to an emergency and
only has two hours before the meeting to appoint a proxy, she cannot validly appoint a proxy at
this late stage, because it falls outside the 48-hour requirement stipulated in the MOI.
However, Section 57(4) of the Companies Act provides that a shareholder can appoint a proxy by
submitting the appointment at a reasonable time before the meeting, and that the company’s MOI
or rules may set a different timeframe. Since Busi is aware of the 48-hour notice requirement in the
