Article 29 of Companies Law

If the company’s contract is adjudged void, the company shall be considered a de facto company, and the terms of the contract shall be followed in its liquidation and the settlement of the partners’ rights against one another. The invalidity of the company’s contract shall not entail the invalidity of the company’s transactions during the period preceding the date of issuance of a final judgment Law Index 1469 Home Page Companies Law Law No. 1 of 2016 Promulgating the Companies Law of invalidity, unless those transactions are void for another reason. Article 30 (1) The founders, shareholders or partners may, during the period preceding or following incorporation, conclude an agreement governing the relationship among themselves. This agreement may not contain a condition exempting the founders or some of them from liability arising from the incorporation of the company, nor may it contain any other conditions stipulated to apply to the company unless those conditions are approved by the competent body in the company. The shareholders’ agreement shall be binding on its parties. In the event of its breach, the parties to the agreement may apply to the Judge of Interim Matters to obtain an order on petition neutralising the shares or interests covered by the agreement for voting purposes for a period determined by the Judge issuing the order or until the merits of the dispute are determined before the competent court, unless otherwise agreed.