65. Company articles.

65.     Company articles.

A company's articles of association under the Companies Act 20061 take effect, as regards provisions affecting the relationship of members in their capacity as members2, by way of contract3. Accordingly provisions in articles restricting transfers of shares and enabling the directors to call for a transfer from a shareholder4, or subjecting the shares of any shareholder to a lien for debts to the company to arise at any time while he is registered as shareholder5, are valid.