(1) Subject to subregulation (2), a person acting under a proxy must not vote in favour of any resolution that would directly or indirectly place:

(a)

the person; or

(b)

the person's partner; or

(c)

the person's employer;

in a position to receive any remuneration out of assets of the fund or registered organization concerned, except as a creditor rateably with the other creditors.

(2) If a person holds a special proxy to vote:

(a)

in favour of his or her appointment as the administrator of the fund or registered organization concerned, or the voluntary deed of arrangement; or

(b)

against the termination of his or her appointment as the administrator;

he or she may use the proxy and vote accordingly.