In Section 42 of the Principal Act,-

(1) in sub-section (2) for the words “demand for shares” instead of “shares which he agrees to pay immediately”

(2) After sub-section (2) the following sub-sections (2A), (2B), (2C), (2D), (2E), (2C) and (2G) are added: - "(2A) When selling the shares in the name of the founder of a company, the other founders and shareholders immediately existing in the company will have the first right and such shares can be sold to other persons only if the other founders and shareholders do not purchase the shares.

(2B) Any The shareholder who sells the shares of a private company or the founder's shares of an unlisted public company shall submit an application to the board of directors for the approval of the sale of shares, stating the sale price of such shares. An appropriate decision should be made within the given two months.

(2d) When making a decision according to sub-section (2c), in order to purchase such shares, notice shall be given to the other founding shareholders of the company in case of founder shares and to all shareholders in case of other shares.

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(2e) If an application is received to purchase shares according to the notification under sub-section (2d), the applicant who applies first will get priority to purchase shares and if the application is made on the same day, he can purchase the same number of shares.

(2f) Sub-section Notwithstanding anything written in (2a), (2b), (2c), (2d) and (2e), there shall be no hindrance to the sale of shares based on mutual agreement between the existing shareholders of the private company.

(2g) ) According to sub-section (2E) or (2F), if the immediate shareholders of the company do not purchase the shares, such shares can be sold to other persons."