Proxy – One Term With Different Meanings
By definition proxy means working on behalf of another party; this could be an agent or a person. As such it is a form of authority that enables the authorised person or agent to act for another. Proxy also means a document that is given by shareholders of a corporate as an approval to vote at a meeting, in other words as their representative. A proxy can also be a server in computer networks, which functions as a computer system or an application, particularly acting as a mediator for internet users to look for resources.
In order to vote for a stock the proxy or representative of the firm must have the agreement of the owner of the stock. This has to be the person whose name is registered in the book of the corporate. Hence, only this individual has the power to delegate someone as proxy. If there is no provision of authority rendered, then there will be no eligibility to vote by proxy. There is no form-filling requirement for appointing a proxy. The permission can be granted in any kind of written form.
Normally, a proxy can vote for ordinary business only but not for any extraordinary business. However, when once a vote is cast, even by proxy, it is regarded as if the vote is made in person. An example of such a possible vote that can be made through proxy is the correction of a business rule or regulation. Minor errors are acceptable in terms of the written document set out for someone the authority as proxy,
Anyone can be a proxy as long as he or she is approved by the stockholder. A proxy does not have to be a stockholder. A proxy can be cancelled at any time, provided it has been made irrevocable. When shares of a stockholder are sold, they automatically revoke any proxies given to vote all those shares. Whenever a stockholder attends a meeting in person, or gives a succeeding proxy, the previous proxy is instantly revoked.
It is common to associate the word ‘proxy’ with proxy organisations, proxy sites or listings and free proxies. There are also terms such as premium proxy and proxy database. Internet surfers may subscribe to certain private proxies of a country. In fact there are too many terms and notions that are related to the word proxy that serve to mean many different things.
Author is an established writer and expert in writing on wide range of topics currently writing on topics like Proxy and Proxy Websites. Visit to read more information.
Processing your request, Please wait....
