Voting of Shares 26. (1) The voting rights pertaining to any shares of the company shall not be exercised when the shares are held in contravention of the charter of the company. (2) Where shares are held contrary to any provision of the by-laws, the shares shall be deemed to be held in contravention of the charter of the company. (3) Notwithstanding any other provision of this Act, where it appears from the register of shareholders of the company that not more than five hundred common shares of the company are held by a shareholder, a person acting as proxy for that shareholder at a general meeting of the company is entitled to assume that the shares are not held in contravention of the charter of the company, unless the knowledge of the person acting as proxy is to the contrary. R.S., c. T-4, s. 25.