Section 581ZN(5) in The Companies (Amendment) Act, 2002
(5)Notwithstanding anything contained in articles or in any contract to the contrary, any Member, or any creditor not consenting to the resolution shall, during the period of one month of the date of service of the notice on him, have the option,-(a)in the case of any such Member, to transfer his shares with the approval of the Board to any active Member thereby ceasing to continue as a Member of that company; or(b)in the case of a creditor, to withdraw his deposit or loan or advance, as the case may be.
