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of <h1>Proxy Holders Barred from Voting on Resolutions with Financial Interest Under Rule 197, LLP Winding Up Rules 2012.</h1> Rule 197 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2012 prohibits any proxy holder from voting on resolutions where they, their partner, or employer have a financial interest. Specifically, they cannot vote in favor of resolutions that would allow them to receive remuneration from the LLP's assets, unless it is as a creditor on equal terms with other creditors. This rule ensures that proxy holders do not exploit their position for personal financial gain during the winding up and dissolution of an LLP.
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