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As I understand it:
For schemes with more than 20 lots, a person will not be able to hold proxies for more than 5% of the total number of lots in that scheme (rounded down to the nearest whole number).
Say 5% of my strata equals 2 lots and I find myself with 3 proxies, that is in excess of 5%.
Can I merely pass the surplus proxy – as is – to anyone (who has less than 2 proxies) or must a notation be made on the said proxy by me or by the original proxy giver to indicate who it is that shall be exercising the proxy at a meeting?
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