QLD Director/Shareholder wishing to resign- Do I forfeit my shares?

[IdentityWitheld2020]

I am resigning from my position as a Director of a small company. There are two directors, me and my other co founder. We assigned new shareholders in exchange for a loan. By resigning, do I automatically have to forfeit/sell my shares? We have a shareholders agreement, but it makes no mention of Shareholder/Director resignation.

 

[Rob Legat - SBPL]

Not unless you’ve got a requirement under your shareholders agreement. You should seek some advice on that document, as it is not always clear.