1. The division provided for in Article 118(1)(a) is not possible:
1 - A cisão prevista no artigo 118.º, n.º 1, alínea a), não é possível:
a) If the value of the net assets of the divided company would fall below the sum of the amounts of its share capital and legal reserve and the share capital is not correspondingly reduced before or together with the division;
a) Se o valor do património da sociedade cindida se tornar inferior à soma das importâncias do capital social e da reserva legal e não se proceder, antes da cisão ou juntamente com ela, à correspondente redução do capital social;
b) If the capital of the company to be divided is not fully paid up.
b) Se o capital da sociedade a cindir não estiver inteiramente liberado.
2. In private limited companies, the amount of supplementary contributions made by members and not yet repaid shall be added for the purposes of point (a) of the preceding paragraph.
2 - Nas sociedades por quotas adicionar-se-á, para os efeitos da alínea a) do número anterior, a importância das prestações suplementares efectuadas pelos sócios e ainda não reembolsadas.
3. Compliance with the conditions required by the preceding paragraphs shall be expressly stated in the opinions and reports of the management and supervisory bodies of the companies and of the statutory auditor or statutory audit firm.
3 - A verificação das condições exigidas nos números precedentes constará expressamente dos pareceres e relatórios dos órgãos de administração e de fiscalização das sociedades, bem como do revisor oficial de contas ou sociedade de revisores.
Both bars to a simple division (net assets falling below share capital plus legal reserve without a corresponding capital reduction; capital not fully paid up), the addition of unrepaid supplementary contributions for private limited companies and the express statement required in the reports are retained.
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Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.