1. Violation of the Articles of Association or laws and regulations: The first statutory condition for the dismissal of a shareholder is that the shareholder violates the Articles of Association or laws and regulations. These provisions may include articles of association, company law, securities law, contract law and other relevant laws and regulations.
2. Decided by the company's shareholders' meeting or board of directors: The second statutory condition for shareholders' delisting is that it must be decided by the company's shareholders' meeting or board of directors. The shareholders' meeting or the board of directors of the company shall make a decision through legal procedures in accordance with the articles of association and laws and regulations.
3. Legality of delisting procedure: The third statutory condition for shareholders to withdraw from the market is that the delisting procedure must be legal. Before the shareholders' meeting or the board of directors decides to recall a shareholder, it shall notify the recalled shareholder and listen to his opinions. If the dismissed shareholder disagrees, the shareholders' meeting or the board of directors shall handle the procedures in accordance with the articles of association and laws and regulations to ensure the legality of the procedures.
4. Legality of delisting decision: The fourth statutory condition for shareholders to withdraw from the market is that the delisting decision must be legal. Before deciding to recall a shareholder, the shareholders' meeting or the board of directors of the company should fully consider the illegal behavior of the recalled shareholder and the interests of the company and make a reasonable decision. The delisting decision shall conform to the company's articles of association, laws and regulations, and ensure legality.
In short, the removal of shareholders is a serious legal act, which must comply with the articles of association and laws and regulations. The procedure and decision to recall shareholders must be legal, otherwise it may cause legal disputes and damage the interests of the company. Therefore, the company should carefully handle the delisting of shareholders to ensure the legality of procedures and decisions.
Legal basis:
Provisions of the Supreme People's Court on Several Issues Concerning the Application of People's Republic of China (PRC) Company Law
(3) Article 17
If the shareholders of a limited liability company fail to perform their capital contribution obligations or withdraw all their capital contribution, and fail to pay or return their capital contribution within a reasonable period after being urged by the company, the company will be dissolved by a resolution of the shareholders' meeting, and the people's court will not support the shareholders' request to confirm that the dissolution is invalid.
In the case specified in the preceding paragraph, the people's court shall make it clear in the judgment that the company shall go through the statutory capital reduction procedures in time or other shareholders or a third party shall pay the corresponding capital contribution. The people's court shall support the creditors of the company who request the relevant parties to bear the corresponding responsibilities in accordance with the provisions of Article 13 or Article 14 of these Provisions before going through the statutory capital reduction procedures or other shareholders or third parties pay the corresponding capital contributions.