Chapter III · Quota interests · Section III · Transfer of a quota

Article 229 Provisions of the articles of association

Artigo 229.º · Cláusulas contratuais

Código das Sociedades Comerciais · Decree-Law No. 262/86 · consolidated text checked 26 October 2026

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1. Clauses prohibiting the assignment of quota interests are valid, but in that case the members shall have a right of withdrawal once ten years have elapsed since they joined the company.

1 - São válidas as cláusulas que proíbam a cessão de quotas, mas os sócios terão, nesse caso, direito à exoneração, uma vez decorridos dez anos sobre o seu ingresso na sociedade.

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2. The articles of association may dispense with the company’s consent, either in general or for specific situations.

2 - O contrato de sociedade pode dispensar o consentimento desta, quer em geral, quer para determinadas situações.

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3. The articles of association may require the company’s consent for all or some of the assignments referred to in the final part of Article 228(2).

3 - O contrato de sociedade pode exigir o consentimento desta para todas ou algumas das cessões referidas no artigo 228.º, n.º 2, parte final.

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4. The effectiveness of a resolution amending the articles of association that prohibits or hinders the assignment of quota interests depends on the consent of all the members affected by it.

4 - A eficácia da deliberação de alteração do contrato de sociedade que proíba ou dificulte a cessão de quotas depende do consentimento de todos os sócios por ela afectados.

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5. The articles of association may not make the effects of an assignment subject to any requirement other than the company’s consent, but may make that consent subject to specific requirements, provided that the assignment is not made dependent on:

5 - O contrato de sociedade não pode subordinar os efeitos da cessão a requisito diferente do consentimento da sociedade, mas pode condicionar esse consentimento a requisitos específicos, contanto que a cessão não fique dependente:

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a) The individual will of one or more members or of an outside person, except where that person is a creditor and the purpose is to comply with a contractual clause guaranteeing the creditor that certain members will remain in the company;

a) Da vontade individual de um ou mais sócios ou de pessoa estranha, salvo tratando-se de credor e para cumprimento de cláusula de contrato onde lhe seja assegurada a permanência de certos sócios;

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b) Any performance to be rendered by the assignor or the assignee for the benefit of the company or of members;

b) De quaisquer prestações a efectuar pelo cedente ou pelo cessionário em proveito da sociedade ou de sócios;

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c) The assumption by the assignee of obligations not provided for in respect of the members generally.

c) Da assunção pelo cessionário de obrigações não previstas para a generalidade dos sócios.

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6. The articles of association may impose penalties for the case where an assignment is made without the company’s prior consent.

6 - O contrato de sociedade pode cominar penalidades para o caso de a cessão ser efectuada sem prévio consentimento da sociedade.

What we checked in this article

The validity of prohibitions on assignment subject to withdrawal after ten years, the unanimity of affected members for restrictive amendments and the three conditions to which an assignment may not be made subject under paragraph 5 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.

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