1. Shares in a public limited company that are subscribed for, acquired or held by a company dependent on it, directly or indirectly, within the meaning of Article 486, or that is in a group relationship with it within the meaning of Article 488 et seq., are deemed for all purposes to be own shares of the dominant company.
1 - As acções de uma sociedade anónima subscritas, adquiridas ou detidas por uma sociedade daquela dependente, directa ou indirectamente nos termos do artigo 486.º ou que com aquela esteja em relação de grupo nos termos do artigo 488.º e seguintes, consideram-se, para todos os efeitos, acções próprias da sociedade dominante.
2. The preceding paragraph does not cover the subscription, acquisition and holding of shares in the public limited company by a company dependent on it, directly or indirectly, but on behalf of a third party that is neither the public limited company referred to in the preceding paragraph nor another company over which the public limited company exercises a dominant influence.
2 - Não estão compreendidas no número anterior a subscrição, a aquisição e a detenção de acções da sociedade anónima pela sociedade dela dependente, directa ou indirectamente, mas por conta de um terceiro que não seja a sociedade anónima referida no número anterior, nem outra em que a sociedade anónima exerça influência dominante.
3. The treatment provided for in paragraph 1 applies even if the dependent company has its effective seat or registered office abroad, provided that the dominant company is subject to Portuguese law.
3 - A equiparação prevista no n.º 1 aplica-se ainda que a sociedade dependente tenha a sede efectiva ou a sede estatutária no estrangeiro, desde que a sociedade dominante esteja sujeita à lei portuguesa.
The deeming of shares held by dependent or group companies as own shares, the exception for holdings on behalf of unrelated third parties, and the extension to foreign dependent companies 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.