Section 32 in State Bank of India General Regulations, 1955
32. Voting by duly authorised representative.
(1)A shareholder, being a company, may by a resolution authorise any of its officials or any other person to act as its representative at any general meeting of the shareholders and the person so authorised (referred to as "duly authorised representative" in these regulations) shall be entitled to exercise the same powers on behalf of the company which he represents, as if he were an individual shareholder of the State Bank. The authorisation so given may be in favour of two persons in the alternative and in such a case any one of such persons may act as the duly authorised representative of the company.(2)A person acting in pursuance of an authorisation given under this regulation shall not be deemed to be a proxy.(3)No person may attend or vote at any meeting of shareholders of the State Bank as a duly authorised representative of a company unless a copy of the resolution appointing him as a duly authorised representative certified to be a true copy by the chairman of the meeting at which it was passed shall have been deposited [at the Central Office or, as the case may be, the local head office] [Substituted 'at the Local Head Office' by Resn. C.B.S.B.I. dated 02-05-2008.] at the place where the meeting is to be held not less than 4 clear days before the date fixed for the meeting.(4)An appointment of a duly authorised representative shall, after the deposit of a certified copy of the resolution as aforesaid, be irrevocable for the meeting for which it is made and shall revoke any proxy previously deposited for such meeting by the company.(5)[ The Central Government may authorise any person to act as its representative at any general meeting of the shareholders and the person so authorised (referred to as "duly authorised person" in these regulations) shall be entitled to exercise the same powers on behalf of Central Government, as if he were an individual shareholder of the State Bank. The authorisation so given may be in favour of two persons in the alternative and in such a case any one of such persons may act as the duly authorised person of the Central Government. Any authorisation given under this sub-regulation shall be informed in writing to the Central Office of State Bank not less than 4 clear days before the date fixed for the meeting and shall, thereafter, be irrevocable for the meeting for which it is made.] [Inserted by Resn. C.B.S.B.I. dated 02-05-2008.]
