Is a provision in the articles of association stating ‘shareholders may not inspect the accounting books’ valid?
No. A shareholder’s right to inspect is a statutory right that cannot be deprived in advance through the articles of association or a shareholders’ agreement. Even if you sign to ‘voluntarily waive’ it, such a clause is void because it violates mandatory legal provisions.
Source article: The Company Never Distributes Dividends or Shows You the Books? The Action for Inspection Rights Teaches You How to Legitimately Inspect the Accounts | Lawyer Kevin Jun Lin
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