PORTUGAL Law and Practice Contributed by: Pedro Duro, Mariana Proença Lobo and Joana Avelino Gomes, CS’Associados
punishable with imprisonment for a period of up to five years. Moreover, Article 379-E of the Portuguese Securities Code criminalises the use of false or wrongful information in operations launched by public companies, with the applicable punish - ment being imprisonment for a period of up to eight years (wrongful offence) or four years (neg - ligent offence). Pursuant to the Legal Framework of Credit Insti - tutions and Financial Companies, account for - gery, a lack of organised accounting and viola - tion of the accounting rules established by the Banco de Portugal are deemed as regulatory offences under Article 211, No 1, paragraph g, punishable with a fine of up to EUR5 million (for individuals and companies). 2.4 Public Officials Embezzlement Embezzlement is a crime under Article 375 of the Criminal Code, being punishable with imprison - ment for a period of one to eight years if a more serious penalty is not applicable under another legal provision. Where the valuables/objects unlawfully appropriated are of a value higher than EUR102, the public official may be punish - able with imprisonment for up to three years or a fine. If the public official lends, pledges or in any way takes valuables or objects that have been hand - ed over to him or her, he or she may be punished with imprisonment for up to three years or a fine, if a more serious penalty is not imposed by virtue of another legal provision. Personal Favouring Under Article 367 of the Criminal Code, the crime of “personal favouring” occurs when a person
prevents, frustrates or evades – in whole or in part – the probationary or preventative activity of a competent authority, with the aim of preventing another person who has committed a crime from being subjected to a penalty or security meas - ure. This is punishable with imprisonment for up to three years or a fine. The same penalty applies to anyone who assists another person with the aim of totally or partially preventing, frustrating or evading a sentence or security measure that has been imposed on them. Personal Favouring by a Public Official This is a crime under Article 368 of the Criminal Code. Whether committed by a public official who intervenes or has the power to intervene in the proceedings, or by someone who has the power to order the execution of a sentence or security measure, or is charged with executing it, this crime may be punishable with imprisonment Intermediaries are treated, under Portuguese law, as co-authors or accomplices, being sub - ject to the penalties applicable to individuals for the crimes referred in 1.2 National Legislation . 2.6 Lobbyists for up to five years. 2.5 Intermediaries Lobbying activities are not regulated in Portu - gal. Nevertheless, with the new government coming into office, the regulation of lobbying activities has become a goal, where the govern - ment is contemplating the implementation of a few measures such as a transparency registry (a database that includes all representatives of legitimate interests who wish to contact public organisations and decision-makers, including sovereign bodies, public administrations and regulators), a Code of Conduct for the legitimate interests of representatives and public entities, a public agenda and cooling-off periods, so that
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