1. The common representative must carry out, on behalf of all the bondholders, the acts of management intended to protect their common interests, and is responsible in particular for:
1 - O representante comum deve praticar, em nome de todos os obrigacionistas, os actos de gestão destinados à defesa dos interesses comuns destes, competindo-lhe nomeadamente:
a) Representing the bondholders as a body in their dealings with the company;
a) Representar o conjunto dos obrigacionistas nas suas relações com a sociedade;
b) Representing the bondholders as a body in legal proceedings, in particular in actions brought against the company and in enforcement or liquidation proceedings concerning its assets;
b) Representar em juízo o conjunto dos obrigacionistas, nomeadamente em acções movidas contra a sociedade e em processos de execução ou de liquidação do património desta;
c) Attending the general meetings of shareholders;
c) Assistir às assembleias gerais dos accionistas;
d) Receiving and examining all of the company’s documentation sent or made available to the shareholders, under the same conditions as those laid down for them;
d) Receber e examinar toda a documentação da sociedade, enviada ou tornada patente aos accionistas, nas mesmas condições estabelecidas para estes;
e) Attending the drawings of lots for the repayment of bonds;
e) Assistir aos sorteios para reembolso de obrigações;
f) Convening the bondholders’ meeting and chairing it, under this law.
f) Convocar a assembleia de obrigacionistas e assumir a respectiva presidência, nos termos desta lei.
2. The common representative must provide the bondholders with the information they request on facts relevant to the common interests.
2 - O representante comum deve prestar aos obrigacionistas as informações que lhe forem solicitadas sobre factos relevantes para os interesses comuns.
3. The common representative’s liability may be limited, except where the representative acts with wilful misconduct or gross negligence, and such limitation may not be set below an amount corresponding to 10 times the representative’s annual remuneration as set.
3 - A responsabilidade do representante comum pode ser limitada, exceto quando este atue com dolo ou negligência grosseira, não podendo tal limitação ser inferior a um valor correspondente a 10 vezes a respetiva remuneração anual que venha a ser fixada.
4. In the absence of a specific provision under the preceding paragraph, the common representative is liable, under the general rules, for acts or omissions in breach of the law and of the resolutions of the bondholders’ meeting.
4 - Na falta de disposição específica nos termos do número anterior, o representante comum responde, nos termos gerais, pelos atos ou omissões violadores da lei e das deliberações da assembleia de obrigacionistas.
5. The bondholders’ meeting may approve rules governing the functions of the common representative.
5 - A assembleia de obrigacionistas pode aprovar um regulamento das funções de representante comum.
6. The common representative is not permitted to receive interest or any sums owed by the company to the bondholders individually.
6 - Não é permitido ao representante comum receber juros ou quaisquer importâncias devidas pela sociedade aos obrigacionistas, individualmente considerados.
The six listed powers, the duty to inform, the exclusion of any liability limitation for wilful misconduct or gross negligence, the floor of 10 times annual remuneration and the bar on receiving sums owed to individual bondholders 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.