Pension Funds/Opinions/Monitoring committee

Monitoring committee and extinction legal transaction

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1. In a merger process in which both companies grant pension plans to their employees, it cannot be the committee responsible for monitoring the pension plan of the acquiring company that pronounces on the extinction of the financing vehicle (i.e. pension fund, its share, or collective membership) of the pension plan of the incorporated company.

2. For the purposes of paragraph 6 of article 30 of Decree-Law no. 12/2006, of 20 January, the contract for extinguishing the share of a closed pension fund may be part of the corresponding contract for amendment of the fund's articles of association, provided that it is clearly understood that, in addition to the amendment, the cancellation of the share is also required.

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