Section 721 of Insolvency Act CAP 53: Representation of bodies corporate at meetings
(1) A body corporate that is a creditor or debenture-holder may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives—
(a) at any meeting of the creditors of a company held in accordance with this Act or of the insolvency regulations; or
(b) at any meeting of a company held in accordance with the provisions contained in a debenture or trust deed.
(2) If the body corporate authorises only one person, that person is entitled to exercise the same powers on behalf of the body corporate as the body corporate could exercise if it were a creditor or debenture-holder who is a natural person.
(3) If the body corporate authorises more than one person, any one of them is entitled to exercise the same powers on behalf of the body corporate as the body corporate could exercise if it were a creditor or debenture-holder who is a natural person.
(4) If the body corporate authorises more than one person and more than one of them purport to exercise a power under subsection (3)—
(a) if they purport to exercise the power in the same way, the power is treated as exercised in that way; but
(b) if they do not purport to exercise the power in the same way, the power is taken to have not been exercised.
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