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A não distribuição abusiva dos lucros de exercício nas sociedades por quotas e nas sociedades anónimas fechadas
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Com a presente dissertação de mestrado pretende-se fundamentalmente tratar a temática das deliberações de não distribuição de lucros que sejam abusivas por afrontarem o direito abstrato e inderrogável dos sócios minoritários de quinhoarem nos lucros gerados pela sociedade. O direito ao lucro é um direito fundamental dos sócios, sendo mesmo a causa da sua participação na sociedade. É um direito que, em abstrato, é inderrogável e irrenunciável e constitui uma característica essencial do contrato de sociedade. Este direito ao lucro concretiza-se na sua distribuição, em cada exercício social, que se encontra regulada nos artigos 217.º, n.º 1 e 294.º, n.º 1 do CSC. Deve ser distribuído, em princípio, metade do lucro de exercício apurado em cada ano que seja legalmente distribuível. No entanto, pode ser afastado, conforme a lei, salvo diferente cláusula contratual ou deliberação tomada por maioria de três quartos dos votos correspondentes ao capital social em assembleia geral para o efeito convocada. Os sócios maioritários que detenham três quartos dos votos correspondentes ao capital social poderão, desta forma, derrogar, sempre que assim o desejarem, a regra supletiva de distribuição de lucros. Uma deliberação que afronte desta forma o direito à distribuição periódica dos lucros é uma deliberação que defrauda as legítimas expetativas dos sócios de quinhoarem nos lucros da sociedade e esvazia o conteúdo económico e social do direito ao lucro que é inerente à participação social. Assim são inválidas, por abuso de direito, as deliberações sociais de não distribuição de lucros que, acumulando-se numa prática sucessiva de vários anos, afastem os sócios minoritários da distribuição periódica dos lucros, sem razão justificada.
This master's thesis primarily aims to address the issue of abusive resolutions regarding the non-distribution of profits, which infringe upon the abstract and nonderogable right of minority shareholders to share in the profits generated by the company. The right to profit is a fundamental right of shareholders and is indeed the cause of their participation in the company. It is a right that, in abstract terms, is non-derogable and non-waivable and constitutes an essential characteristic of the corporate contract. This right to profit is realized through its distribution in each financial year, which is regulated in Articles 217, Paragraph 1 and 294, Paragraph 1 of the Commercial Companies Code, respectively. This regime enshrines a supplementary rule that generally requires the distribution of half of the legally distributable profit ascertained in each year. However, it can be overridden according to the law, except for a different contractual clause or a resolution passed by a three-quarters majority of votes corresponding to the share capital at a general meeting convened for this purpose. Therefore, the majority shareholders holding three-quarters of the votes corresponding to the share capital can, at their discretion, override the supplementary rule of profit distribution. A resolution that thus affronts the right to periodic profit distribution is one that defrauds the legitimate expectations of shareholders to share in the company’s profits and empties the economic and social content of the right to profit inherent in the shareholding. Thus, resolutions regarding the non-distribution of profits that, accumulating into a successive practice over several years, exclude minority shareholders from the periodic distribution of profits without justified reason are invalid due to abuse of right.
This master's thesis primarily aims to address the issue of abusive resolutions regarding the non-distribution of profits, which infringe upon the abstract and nonderogable right of minority shareholders to share in the profits generated by the company. The right to profit is a fundamental right of shareholders and is indeed the cause of their participation in the company. It is a right that, in abstract terms, is non-derogable and non-waivable and constitutes an essential characteristic of the corporate contract. This right to profit is realized through its distribution in each financial year, which is regulated in Articles 217, Paragraph 1 and 294, Paragraph 1 of the Commercial Companies Code, respectively. This regime enshrines a supplementary rule that generally requires the distribution of half of the legally distributable profit ascertained in each year. However, it can be overridden according to the law, except for a different contractual clause or a resolution passed by a three-quarters majority of votes corresponding to the share capital at a general meeting convened for this purpose. Therefore, the majority shareholders holding three-quarters of the votes corresponding to the share capital can, at their discretion, override the supplementary rule of profit distribution. A resolution that thus affronts the right to periodic profit distribution is one that defrauds the legitimate expectations of shareholders to share in the company’s profits and empties the economic and social content of the right to profit inherent in the shareholding. Thus, resolutions regarding the non-distribution of profits that, accumulating into a successive practice over several years, exclude minority shareholders from the periodic distribution of profits without justified reason are invalid due to abuse of right.
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Lucro Direito à distribuição periódica dos lucros Deliberações abusivas Abuso de direito Profit Right to periodic profit distribution Abusive deliberations Abuse of rights
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