1. The general meeting may resolve that the company’s share capital be reduced by cancelling own shares.
1 - A assembleia geral pode deliberar que o capital da sociedade seja reduzido por meio de extinção de acções próprias.
2. Article 95 applies to the capital reduction, except:
2 - À redução do capital aplica-se o disposto no artigo 95.º, excepto:
a) Where the shares cancelled are fully paid-up shares acquired free of charge after the general meeting resolution;
a) Se forem extintas acções inteiramente liberadas, adquiridas a título gratuito depois da deliberação da assembleia geral;
b) Where the shares cancelled are fully paid-up shares acquired after the general meeting resolution solely with assets that could be distributed to the shareholders under Articles 32 and 33; in this case, an amount equal to the total nominal value of the cancelled shares shall be transferred to a special reserve, subject to the rules governing the legal reserve.
b) Se forem extintas acções inteiramente liberadas, adquiridas depois da deliberação da assembleia geral, unicamente por meio de bens que, nos termos dos artigos 32.º e 33.º, pudessem ser distribuídos aos accionistas; neste caso, deve ser levada a reserva especial, sujeita ao regime da reserva legal, quantia equivalente ao valor nominal total das acções extintas.
The two exceptions to Article 95 (fully paid-up shares acquired free of charge, or acquired solely with assets distributable under Articles 32 and 33, both after the resolution) and the special reserve equal to the total nominal value of the cancelled shares 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.