Answer: Shareholders to delegate their voting rights when unable to attend meetings.

Proxy voting is a mechanism that allows shareholders who cannot attend a meeting to authorize another individual (e.g., another shareholder or director) to vote on their behalf. This ensures their participation in corporate governance even in their absence. Option A refers to dual-class share structures, not proxy voting. Option B describes cumulative voting, which allows shareholders to concentrate their votes on a single candidate in multi-director elections.

Author: LeetQuiz Editorial Team