Section 79(5)

The circumstances in which a person acquires a right mentioned in subsection (3)— include those where he acquires a right, or assumes an obligation, whose exercise or fulfilment would give him that right; but do not include those where he is appointed as proxy to vote at a specified meeting of a company or of any class of its members or at any adjournment of the meeting or he is appointed by a corporation to act as its representative at any meeting of the company or of any class of its members.

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Source: legislation.gov.uk · retrieved 2026-09-04