1. Managers may not, without the consent of the members, carry on, on their own account or on behalf of others, any activity competing with that of the company.
1 - Os gerentes não podem, sem consentimento dos sócios, exercer, por conta própria ou alheia, actividade concorrente com a da sociedade.
2. Any activity falling within the company’s object is deemed to compete with that of the company, provided that it is being carried on by the company or the members have resolved that it be carried on.
2 - Entende-se como concorrente com a da sociedade qualquer actividade abrangida no objecto desta, desde que esteja a ser exercida por ela ou o seu exercício tenha sido deliberado pelos sócios.
3. Carrying on an activity on one’s own account includes participation, directly or through an intermediary, in a company which entails the manager assuming unlimited liability, as well as a holding of at least 20% of the capital or profits of a company in which the manager assumes limited liability.
3 - No exercício por conta própria inclui-se a participação, por si ou por interposta pessoa, em sociedade que implique assunção de responsabilidade ilimitada pelo gerente, bem como a participação de, pelo menos, 20% no capital ou nos lucros de sociedade em que ele assuma responsabilidade limitada.
4. Consent is presumed where the activity was carried on before the manager’s appointment and was known to members holding a majority of the capital, and likewise where, such knowledge of the manager’s activity existing, the manager continues to perform their duties more than 90 days after a resolution was adopted on a new activity of the company with which the activity hitherto carried on by the manager competes.
4 - O consentimento presume-se no caso de o exercício da actividade ser anterior à nomeação do gerente e conhecido de sócios que disponham da maioria do capital, e bem assim quando, existindo tal conhecimento da actividade do gerente, este continuar a exercer as suas funções decorridos mais de 90 dias depois de ter sido deliberada nova actividade da sociedade com a qual concorre a que vinha sendo exercida por ele.
5. Infringement of paragraph 1, in addition to constituting just cause for removal from office, obliges the manager to compensate the company for the losses it suffers.
5 - A infracção do disposto no n.º 1, além de constituir justa causa de destituição, obriga o gerente a indemnizar a sociedade pelos prejuízos que esta sofra.
6. The company’s rights referred to in the preceding paragraph become time-barred 90 days after all the members become aware of the activity carried on by the manager or, in any event, five years after that activity began.
6 - Os direitos da sociedade mencionados no número anterior prescrevem no prazo de 90 dias a contar do momento em que todos os sócios tenham conhecimento da actividade exercida pelo gerente ou, em qualquer caso, no prazo de cinco anos contados do início dessa actividade.
The definition of competing activity, the 20% holding threshold, the presumptions of consent (including the 90-day rule), just cause for removal plus damages, and the 90-day and five-year limitation periods 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.