1. No member may, on the member’s own account or on behalf of another, carry on an activity competing with that of the company or be a member with unlimited liability in another company, except with the express consent of all the other members.
1 - Nenhum sócio pode exercer, por conta própria ou alheia, actividade concorrente com a da sociedade nem ser sócio de responsabilidade ilimitada noutra sociedade, salvo expresso consentimento de todos os outros sócios.
2. A member who infringes the preceding paragraph is liable for the damage caused to the company; instead of compensation in respect of that liability, the company may require that the transactions carried out by the member on the member’s own account be treated as carried out on behalf of the company, and that the member hand over to the company the proceeds accruing to the member from transactions carried out by the member on behalf of others, or assign to the company the member’s rights to such proceeds.
2 - O sócio que violar o disposto no número antecedente fica responsável pelos danos que causar à sociedade; em vez de indemnização por aquela responsabilidade, a sociedade pode exigir que os negócios efectuados pelo sócio, de conta própria, sejam considerados como efectuados por conta da sociedade e que o sócio lhe entregue os proventos próprios resultantes dos negócios efectuados por ele, de conta alheia, ou lhe ceda os seus direitos a tais proventos.
3. Any activity falling within the company’s object is deemed to be competing, even if it is not in fact being carried on by the company.
3 - Entende-se como concorrente qualquer actividade abrangida no objecto da sociedade, embora de facto não esteja a ser exercida por ela.
4. Carrying on an activity on one’s own account includes holding at least 20% of the capital or of the profits of a company in which the member assumes limited liability.
4 - No exercício por conta própria inclui-se a participação de, pelo menos, 20% no capital ou nos lucros de sociedade em que o sócio assuma responsabilidade limitada.
5. Consent is presumed where the carrying on of the activity or the holding in the other company predates the member’s admission to the company and all the other members are aware of those facts.
5 - O consentimento presume-se no caso de o exercício da actividade ou a participação noutra sociedade serem anteriores à entrada do sócio e todos os outros sócios terem conhecimento desses factos.
The unanimous express consent exception, the company's choice between damages and treating the transactions as its own (or claiming the proceeds), the object-based test of competition, the 20% holding threshold and the presumption of consent for pre-existing activities known to all members 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.