1. Under no circumstances is it lawful to liquidate an interest in a company not yet dissolved if, as a result, the company’s net assets would fall below the amount of the share capital.
1 - Em caso algum é lícita a liquidação da parte em sociedade ainda não dissolvida se a situação líquida da sociedade se tornasse por esse facto inferior ao montante do capital social.
2. An interest is liquidated in accordance with Article 1021 of the Civil Code, the interest being valued under Article 105(2) by reference to the time at which the fact giving rise to the liquidation occurs or takes effect.
2 - A liquidação da parte efectua-se nos termos previstos no artigo 1021.º do Código Civil, sendo a parte avaliada nos termos do artigo 105.º, n.º 2, com referência ao momento da ocorrência ou eficácia do facto determinante da liquidação.
The absolute bar on liquidating an interest in a company not yet dissolved where net assets would fall below share capital, and liquidation under Article 1021 of the Civil Code with valuation under Article 105(2) at the time the triggering fact occurs or takes effect, 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.