1. It is essential that, in the subordination agreement, the directing company undertake:
1 - No contrato de subordinação é essencial que a sociedade directora se comprometa:
a) To acquire the quota interests or shares of the outside members of the subordinate company, for consideration fixed either by agreement or in accordance with Article 497;
a) A adquirir as quotas ou acções dos sócios livres da sociedade subordinada, mediante uma contrapartida fixada ou por acordo ou nos termos do artigo o 497.º;
b) To guarantee the profits of the outside members of the subordinate company, in accordance with Article 499.
b) A garantir os lucros dos sócios livres da sociedade subordinada, nos termos do artigo 499.º
2. Outside members are all the members or shareholders of the subordinate company, except:
2 - Sócios livres são todos os sócios ou accionistas da sociedade subordinada, exceptuados:
b) Companies or persons related to the directing company within the meaning of Article 483(2), or companies that are in a group relationship with the directing company;
b) As sociedades ou pessoas relacionadas com a sociedade directora, nos termos do artigo 483.º, n.º 2, ou as sociedades que estejam em relação de grupo com a sociedade directora;
c) The controlling company of the directing company;
c) A sociedade dominante da sociedade directora;
d) Persons holding more than 10% of the capital of the companies referred to in the preceding points;
d) As pessoas que possuam mais de 10% do capital das sociedades referidas nas alíneas anteriores;
f) Companies controlled by the subordinate company.
f) As sociedades dominadas pela sociedade subordinada.
The two essential undertakings (acquisition of outside members' interests and profit guarantee), the cross-references to Articles 497, 499 and 483(2), the 10% threshold and all six exclusions from the outside members 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.