1. Where a capital increase is not fully subscribed, the resolution of the general meeting or of the board is deemed to be without effect, unless the resolution itself provided that, in that event, the increase is limited to the subscriptions received.
1 - Não sendo totalmente subscrito um aumento de capital, considera-se a deliberação da assembleia ou do conselho sem efeito, salvo se ela própria tiver previsto que em tal caso o aumento fica limitado às subscrições recolhidas.
2. The notice of the capital increase referred to in Article 459(1) shall state the rules applicable in the event of incomplete subscription.
2 - O anúncio de aumento do capital, referido no artigo 459.º, n.º 1, deve indicar o regime que vigora para a subscrição incompleta.
3. Where the resolution to increase the capital is without effect because the subscription was incomplete, the management body shall notify the subscribers of that fact within fifteen days following the close of the subscription and shall immediately refund the amounts received.
3 - Ficando a deliberação de aumento sem efeito, por ter sido incompleta a subscrição, o órgão de administração avisará desse facto os subscritores nos quinze dias seguintes ao encerramento da subscrição e restituirá imediatamente as importâncias recebidas.
The default ineffectiveness of the resolution unless it limits the increase to the subscriptions received, the disclosure in the notice under Article 459(1), and the fifteen-day notice to subscribers with immediate refund 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.