1. The liquidation must be closed and the distribution approved within two years from the date on which the company is deemed dissolved, without prejudice to any shorter period agreed in the articles of association or fixed by resolution of the members.
1 - A liquidação deve estar encerrada e a partilha aprovada no prazo de dois anos a contar da data em que a sociedade se considere dissolvida, sem prejuízo de prazo inferior convencionado no contrato ou fixado por deliberação dos sócios.
2. The period laid down in the preceding paragraph may be extended only by resolution of the members and for a period not exceeding one year.
2 - O prazo estabelecido no número anterior só pode ser prorrogado por deliberação dos sócios e por período não superior a um ano.
3. If the periods provided for in the preceding paragraphs expire without registration of the closure of the liquidation having been applied for, the competent registry service shall initiate administrative liquidation ex officio.
3 - Decorridos os prazos previstos nos números anteriores sem que tenha sido requerido o registo do encerramento da liquidação, o serviço de registo competente promove oficiosamente a liquidação por via administrativa.
The two-year period from the date of dissolution, the single extension of up to one year by members' resolution, and ex officio administrative liquidation once the periods expire 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.