What is a proxy holder for a business corporation and who can act as such?

Both in Canada and in Quebec, any person, whether or not a shareholder of a business corporation, can be the proxy holder for the latter, that is to say the person authorized by a resolution to act for on behalf of the business corporation when comes the time for this corporate shareholder to attend a meeting of shareholders and to vote thereto.

In Quebec, a proxy must be in writing and signed by the shareholder entitled to vote. Unless otherwise indicated, a granted proxy lapses one year after the date it is given. It may be revoked at any time.

In Canada, a proxy must be in writing and signed by the shareholder entitled to vote or his personal representative authorized in writing. A proxy is valid only at the meeting in respect of which it is given or any adjournment thereof.