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There is no provision in the Companies Act that mandates a shareholder to sell their shares, making it challenging to remove a partner from a business. During the creation of a shareholders agreement, discussions should include potential scenarios of disagreement, even though it's an uncomfortable topic. It's crucial to have default provisions in the agreement for such cases. A common provision is the right of preemption, which requires shareholders to offer their shares to existing shareholders before selling to others. The agreement can also outline how the shares will be valued, potentially involving an independent accountant or the company’s accountant.
