(1)
A corporation, whether a company within the meaning of this Act or not, may if it is—
(a)
a member of another corporation, being a company within the meaning of this Act, by resolution of its directors or other governing body, authorise such person as it deems fit to act as its representative at any meeting of the company or at any meeting of any class of members of the company ; or
(b)
a creditor (including a holder of debentures) of another corporation, being a company within the meaning of this Act, by resolution of its directors or other governing body, authorise such person as it deems fit to act as its representative at any meeting of any creditors of the company held in pursuance of this Act or of any rule made thereunder or in pursuance of the provisions contained in any debenture or trust deed, as the case may be.
(2)
A person authorised as provided in subsection (1), is entitled to exercise the same powers on behalf of the corporation which he represents as that corporation might exercise if it were an individual shareholder, creditor or holder of debentures of that other company.