Use It For
Use this for close-company transfer limits, employment-linked ownership, and the role of articles in shaping shareholder rights.
Brief English Introduction
Guiding Case No. 96 confirms that initial articles may validly restrict transfer and provide for reasonable repurchase arrangements in a restructured limited liability company, so long as the clauses do not violate mandatory Company Law norms.
Teaching Notes
It is a strong prompt for asking when company autonomy supports stability and when it risks suppressing exit rights.