Any company executive who, knowingly, fails, where the shareholders’ equity of the company
falls below half the registered capital due to losses recorded in the summary financial statements
to
1°) have an extraordinary general meeting convened, within a period of four months following
the approval of the summary financial statements in which the losses appear to order, where
necessary, the premature dissolution of the company; or
2°) file at the registry of the court responsible for commercial matters, register in the Trade and
Personal Property Rights Register and publish in a newspaper empowered to publish legal
notices the premature dissolution of the company shall be criminally liable.
Official translation
Spot-checked
In force from 17 April 1997
Source page 196