An arbitration clause contained in the articles of association referring to arbitrators disputes between shareholders and between them and the company has a scope of application limited to the content of the articles of association and the obligations directly arising therefrom, with the consequence that contracts for the sale and purchase of company shares, even if concluded between shareholders, do not fall within its scope, as the regulation of interests thereunder is not influenced by the capacity of shareholder of the contracting parties or by the nature of the subject matter as a company share.