Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Proxy
n. 1. One who is authorized to act as a substitute for another; esp., in corporate law, a person who is authorized to vote another's stock shares. 2. The grant of authority by which a person is so authorized. 3. The document granting this authority.
proxy contest
A struggle between two corporate factions to obtain the votes of uncommitted shareholders. ( A proxy contest usu. Occurs when a group of dissident shareholders mounts a battle against the corporation's managers. -Also termed proxy fight.
proxy marriage
A wedding in which someone stands in for an absent bride or groom, as when one party is stationed overseas in the military. ( Proxy marriages are prohibited in most states.
proxy solicitation
A request that a corporate shareholder authorize another person to cast the shareholder's vote at a corporate meeting.
proxy statement
An informational document that accompanies a proxy solicitation and explains a proposed action (such as a merger) by the corporation.