Administrative dissolution for failure to register the annual accounts

On 29 March 2006, Decree-Law 74-A/2006 implemented the Legal Framework for Dissolution and Liquidation of Commercial Entities ("Regime Jurídico dos Procedimentos Administrativos de Dissolução e de Liquidação de Entidades Comerciais" or "RJDLEC"). The aim of this legislation was to facilitate administrative dissolution and liquidation of commercial entities upon verification of certain objective indicators that the company in question was no longer active.