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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Once I resign as a director and return my shares can I establish

Resolved Question:

Once I resign as a director and return my shares can I establish a similar company?
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.

Alex Watts :

Do you have a shareholder agreement at all please?

Customer:

No agreement signed

Alex Watts :

Ok - then yes you can.

Alex Watts :

If it had been the case that you had a shareholder or Director agreement that prevented you from doing this, then it would have been breach of contract

Alex Watts :

But on the basis there is no agreement then you can do what you want!

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Thanks. There is no standard legal agreement to abide by when a company is registered and shareholders established? I have never signed an agreement that has been setup by the company.

Alex Watts :

No - there is no agreement.

Alex Watts :

Hindsight is great so when you leave they will wish there had been

Alex Watts :

Can I clarify anything else?

Customer:

Thank you. Do they have to accept my resignation? I assume that the rules are different if I remain a director/shareholder?

Alex Watts :

They can't refuse it

Alex Watts :

They cant make you stay

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