What happens if a proxy-holder arrives after a meeting has been called to order?

A proxy-holder can indeed vote if they arrive after a meeting has been called to order, provided that the proxy was submitted earlier. The important aspect of using a proxy is that it is designed to ensure that the interests of those who cannot attend the meeting in person are represented. As long as the proxy was validly submitted and the proxy-holder has the appropriate documents when they arrive, their late arrival does not invalidate their ability to participate in the vote.

The timing of their arrival is less relevant than the fact that the proxy was already executed prior to the meeting. Therefore, once they arrive, they can present the proxy documentation and cast their vote according to the instructions contained within the proxy. This means that their presence as a proxy-holder, despite being late, still allows them to fulfill their role in representing the interests of the person who granted them the proxy.