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In the Companies Act, there is no requirement for someone to sell their shares, which can surprise business partners wanting to remove a co-shareholder. When forming a shareholders agreement, it’s vital to discuss exit strategies in case of disputes, even though it's an uncomfortable topic initially. Having predefined provisions can streamline the process if disagreements arise. Typically, a right of preemption is included, meaning shares must first be offered to existing shareholders before being sold to outsiders. The agreement can detail the valuation method and involve an independent accountant if necessary, ensuring a fair process for all parties involved.
