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In addition, the Companies Act 2014 now provides for companies that are members of groups and dormant companies to avail of audit exemption, subject to certain conditions.For details on the audit exemption provisions contained in the Companies Act 2014, please refer to Technical Release TR 06/2015 - Companies Act 2014 Audit Exemption.

Audit exemption is available to CLGs under the Companies Act 2014, with the caveat that any member can serve notice in writing on the company stating that the member does not wish the audit exemption to be available to the company in a financial year specified in the notice.Shareholders of a public corporation may appoint an agent to attend shareholder meetings and vote on their behalf. In a proxy fight, incumbent directors and management have the odds stacked in their favor over those trying to force the corporate change.These incumbents use various corporate governance tactics to stay in power, including: staggering the boards (i.e., having different election years for different directors), controlling access to the corporation's money, and creating restrictive requirements in the bylaws. However, it has been recently noted that proxy fights waged by hedge funds are successful more than 60% of the time.Empire is committed to maximizing sustainable long-term shareholder value by supporting Sobeys’ purpose to help Canadians Eat Better, Feel Better and Do Better while also strengthening our related real estate investments.A proxy fight or proxy battle is an unfriendly contest for the control over an organization.