1. The articles of association may establish a scheme of old-age or disability retirement for directors, borne by the company.
1 - O contrato de sociedade pode estabelecer um regime de reforma por velhice ou invalidez dos administradores, a cargo da sociedade.
2. The company may grant directors supplements to retirement pensions, provided that they do not exceed the remuneration received at the relevant time by a serving director or, where remuneration differs, the highest such remuneration.
2 - É permitido à sociedade atribuir aos administradores complementos de pensões de reforma, contanto que não seja excedida a remuneração em cada momento percebida por um administrador efectivo ou, havendo remunerações diferentes, a maior delas.
3. The directors’ right to retirement or supplementary pensions ceases when the company is extinguished; the company may, however, take out insurance contracts at its own expense against this risk, in the interest of the beneficiaries.
3 - O direito dos administradores a pensões de reforma ou complementares cessa no momento em que a sociedade se extinguir, podendo, no entanto, esta realizar à sua custa contratos de seguro contra este risco, no interesse dos beneficiários.
4. The regulations implementing the preceding paragraphs must be approved by the general meeting.
4 - O regulamento de execução do disposto nos números anteriores deve ser aprovado pela assembleia geral.
The cap on pension supplements by reference to the highest serving director's remuneration, the cessation of pension rights on the company's extinction with the insurance option, and approval of implementing regulations by the general meeting 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.