Information for Shareholders
Powers of attorney
If shareholders prefer to be represented by a third party, they must present a power of attorney indicating the powers granted to their representative. These powers of attorney have limited validity.
The validity of the powers of attorney will be subject to the following rules:
- The POAs registered as public deeds will be valid for two years from the date of their signature unless otherwise instructed in the deed.
- After this term, the validity of the POA must be accredited through an original certificate from the corresponding Judicial Archive Office or the Real Estate Registrar, as appropriate.
- Corporations may also accredit the validity of the POAs that are part of their bylaws with an updated copy of the certificate of incorporation extract, with marginal notes, of recent date in the Commercial Registry and provided by the corresponding Registrar. If the Corporation has been subject to reforms during the period, this information must be attached; the amendment deeds must be attached with the registration and publication of its extracts.
- Non-notarized powers of attorney included in authorized private instruments authorized by a Notary Public will be valid for six months from the date of their granting. After the said term, new powers of attorney must be granted.
Foreign POAs are subject to the following rules:
- They must be granted before the Chilean Consul closest to the shareholder abroad.
- They must be legalized at the Ministry of Foreign Affairs in Chile (in whose case, their validity is for six months after it was granted.)
- If the Consul works in a country that adheres to the Hague Convention Apostille (from 08/30/16), the document must only be certified by the Apostille for the authenticity of the signature to be considered as certified, the capacity of the document's signatory, and if appropriate the identity of the seal and stamp included in the document. The document will be recognized as valid for six months after being granted.
- If the POA granted under any of the conditions described above is also notarized in a Notary's Office in Chile within 30 days from its signature, it will be granted the same validity as a public deed (2 years).