What are the restrictions on the transfer of shares by promoters of private limited companies?

What are the restrictions on the transfer of shares by promoters of private joint stock limited companies? Article 1 of the new company law stipulates that the shares of the company held by the promoters shall not be transferred within one year from the date of establishment of the company. Shares issued before the public offering of shares by the company shall not be transferred within one year from the date of listing and trading of the company's shares on the stock exchange. The directors, supervisors and senior managers of the company shall report to the company the shares they hold and their changes, and the shares transferred each year during their term of office shall not exceed 25% of the total shares they hold; The shares held by the company shall not be transferred within one year from the date of listing and trading of the company's shares. The above-mentioned personnel shall not transfer their shares in the company within six months after leaving the company. The articles of association may make other restrictive provisions on the transfer of shares held by directors, supervisors and senior managers of the company. 2. The Company Law and other laws and regulations stipulate that it is forbidden to engage in profit-making activities and accept shares of the company. For example, commercial banks are forbidden to invest in non-bank financial institutions and enterprises; 3. Individual citizens of China cannot become shareholders of Sino-foreign joint ventures (cooperation) limited companies; The Company Law stipulates that the change registration of the register of shareholders specified in the preceding paragraph shall not be carried out within 20 days before the convening of the shareholders' meeting or within 5 days before the benchmark date when the company decides to distribute dividends. However, if there are other provisions in the law on the registration of changes in the register of shareholders of listed companies, those provisions shall prevail. Article 142 The shares of the Company held by promoters shall not be transferred within one year from the date of establishment of the Company. Shares issued before the public offering of shares by the company shall not be transferred within one year from the date of listing and trading of the company's shares on the stock exchange. The directors, supervisors and senior managers of the company shall report to the company the shares they hold and their changes, and the shares transferred each year during their term of office shall not exceed 25% of the total shares they hold; The shares held by the company shall not be transferred within one year from the date of listing and trading of the company's shares. The above-mentioned personnel shall not transfer their shares in the company within six months after leaving the company. The articles of association may make other restrictive provisions on the transfer of shares held by directors, supervisors and senior managers of the company. Article 143 A company may not purchase its own shares. However, except for one of the following circumstances: (1) reducing the registered capital of the company; (2) Merging with other companies holding shares of the Company; (3) Rewarding shares to employees of the Company; (4) Shareholders request the company to purchase their shares because they disagree with the resolution of merger or division made by the shareholders' meeting. Through the above provisions, the company law restricts the transfer of equity. For all shareholders, the change registration of the register of shareholders shall not be carried out within 20 days before the general meeting of shareholders or 5 days before the benchmark date when the company decides to distribute dividends. The purpose of this regulation is to prevent individual shareholders from using share transfer to disperse or concentrate their voting rights, to achieve the purpose of manipulating the shareholders' meeting, and to make dividend distribution go smoothly and avoid unnecessary disputes. The shares held by the promoters, directors, supervisors and senior managers of the company shall not be transferred at will. The shares of the company held by the promoters can not be transferred until one year after the establishment of the company. Directors, supervisors and senior managers of the company shall not transfer more than 25% of the total shares of the company held by them every year during their tenure; The shares held by the company can only be transferred after one year from the date of listing and trading of the company's shares. Within six months after leaving his post, he shall not transfer the shares of the company he holds. As for the company, the company should not buy its shares. Only under the four circumstances specified in Article 143 can a company acquire its shares. Where a company purchases shares of the company because of reducing its registered capital, merging with other companies holding shares of the company or rewarding shares to its employees, it shall be decided by the shareholders' meeting. Where a company's shares are acquired due to the reduction of its registered capital, it shall be cancelled within 10 days from the date of acquisition; If the company is merged with other companies holding shares of the company, and the shareholders have objections to the resolution of merger or division made by the shareholders' meeting and need to purchase its shares, they shall transfer or cancel them within six months. When the company awards shares to employees and purchases shares of the company, it shall not exceed 5% of the total issued shares of the company; The funds used for the acquisition are paid from the after-tax profits of the company; The acquired shares shall be transferred to the employees within one year. The restrictions on the transfer of shares by promoters of private joint stock limited companies are mainly aimed at the shareholders of the company taking advantage of loopholes in the law to obtain some illegitimate interests from the company holding shares. With the development of economy, China is constantly striving to improve the company law. Anyone who uses equity to cause social market economic chaos will be treated as a criminal case.