A manager or director of a company who, finding from the annual accounts that half of the share capital has been lost, fails to comply with Article 35 is punishable by imprisonment for up to 1 year or a fine.
O gerente ou administrador de sociedade que, verificando pelas contas de exercício estar perdida metade do capital, não der cumprimento ao disposto no artigo 35.º é punido com pena de prisão até 1 ano ou com pena de multa.
The trigger (loss of half of the share capital as shown by the annual accounts), the cross-reference to Article 35 and the penalty of imprisonment for up to 1 year or a fine 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.