Section 5(1) in The Orissa State Financial Corporation (Voting Rights) Regulations, 2003
(1)A shareholder, being a company, may by a resolution of its Board of Directors or other Governing Body authorise any of its officials or any other person to act as its representative at any meeting of the Corporation and the person not authorised 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 Corporation. The authorisation so given may be in favour of two or more persons as alternate representatives and in that case any one of such persons may act as the duly authorised representative of the company. A person acting in pursuance of an authorisation given under this sub-Regulation shall not be deemed to be a proxy.
