Form with which a shareholder who has granted another the right to vote on his/her behalf may revoke the granting of that right.
Virgin Islands Revocation of Proxy — Corporate Resolutions is a legal process through which a shareholder in a company incorporated in the Virgin Islands can revoke the authority given to a proxy to vote on their behalf during corporate meetings. This document is commonly used when a shareholder wants to exercise their voting rights themselves or assign their vote to a different proxy. To begin the process, the shareholder needs to draft a Revocation of Proxy letter that includes their name, contact information, and the details of the original proxy authorization that they are revoking. The letter should clearly state the shareholder's intention to revoke the proxy and must be signed and dated. The shareholder should then deliver this document to the company's registered office in the Virgin Islands. The revocation of proxy is important to ensure that the shareholder's voice is heard and that they have the opportunity to actively participate in key corporate decisions. By revoking the proxy, the shareholder can personally attend shareholder meetings or appoint a new proxy who will represent their interests. There are different types of Virgin Islands Revocation of Proxy — Corporate Resolutions that can be used, depending on the specific circumstances. One type is the general revocation of proxy, whereby the shareholder cancels the proxy's authority completely. Another type is the partial revocation, where the shareholder only revokes the proxy's authority for specific matters or meetings. Additionally, there may be situations where the shareholder wishes to revoke a proxy while concurrently appointing a new proxy. This is known as simultaneous revocation and appointment of proxy. In this case, the shareholder needs to clearly state the revocation of the previous proxy and provide explicit instructions for the new proxy's appointment. Overall, Virgin Islands Revocation of Proxy — Corporate Resolutions is a crucial legal process that allows shareholders to exercise their voting rights directly or by appointing someone they trust. It ensures transparency and fair representation in corporate decision-making processes.
