Code of Coduct

1. Message from the Administration

As established in the Management Policy, INDISOL, SA considers ethics in business as one of its core values and is committed to complying with legal requirements.
It aims to ensure that its business is conducted with the highest ethical standards and in full compliance with all applicable legal requirements.
Giving and/or offering gifts to a person or persons with anything of value for improper purposes is contrary to applicable legislation and the values and principles of INDISOL. The company is fundamentally committed to conducting its activities successfully without engaging in corrupt practices.
This Code of Conduct will enable INDISOL’s employees to become familiar with the basic principles of anti-corruption and anti-bribery laws and to be reminded of the practices that must be followed to comply with these principles.
Given that many countries have placed renewed emphasis on anti-corruption and anti-bribery laws, and considering that the company has clients in various countries worldwide, we have chosen this moment to reaffirm these important and enduring principles in this Code of Conduct.
Non-compliance with this Code of Conduct may lead to significant legal and financial consequences. It is of utmost importance to adhere to the recommendations outlined in this Code of Conduct.
This Code of Conduct applies not only to all INDISOL Directors and Employees who may be affected by situations involving corruption and bribery but also to any intermediaries who may act on behalf of the company.
Questions or concerns related to any aspect of this Code of Conduct may be addressed to the Administration.
The Administration appreciates the commitment of all INDISOL Employees to internalizing and fully implementing this Code of Conduct.

2. Purpose

This Code of Conduct aims to comply with the provisions of Law 109-E/2021, of December 9, establishing the principles, values, and rules of conduct for all managers and employees of INDISOL SA regarding professional ethics, with special consideration for criminal regulations concerning corruption and related offenses and the risks of the company’s exposure to these crimes.

3. Publicity and Review

This Code of Conduct is reviewed every three years or whenever justified, taking into account, in particular, the assessment of risks of INDISOL SA’s exposure to corruption and related offenses or changes in the company’s organizational or corporate structure.

Code of Conduct adopted on: 02-05-2025
Expected review date: 02-05-2028

The publicity of this Code is ensured through the company’s intranet and official website (www.indisol.pt) within 10 days from its implementation and respective reviews.

4. Scope of Application

This Code of Conduct applies to all employees and managers of INDISOL SA.
It also covers interns, as well as any service providers or other persons acting under the guidance or direction of INDISOL SA, who may bind or represent the company.
Those who fail to comply with this Code or are responsible for such non-compliance may face disciplinary action, with corresponding disciplinary, administrative, and criminal consequences under applicable legislation.
The reputation and good name of INDISOL SA depend on the behavior of each and every person associated with it, and their actions and conduct must comply with the highest standards of professional ethics, particularly in preventing and combating corruption and related offenses.

5. Principles and Values of INDISOL SA

Responsibility
INDISOL SA conducts its activities in a socially responsible manner, promoting and ensuring the best practices, particularly regarding the environment, economy, and health and safety conditions of its employees.

Impartiality
INDISOL SA upholds and implements the principle of equality for all and rejects any discriminatory or favoritist behavior within the company or through its representatives.

Transparency
INDISOL SA considers transparency a pillar of credibility and dedication to complying with the law and respecting society.

Rigor
INDISOL SA conducts its activities with rigor, demanding the best behavior from all those involved in fulfilling their obligations and duties, aiming to build a reference image of credibility and quality.

6. What Constitutes Corruption or Bribery?

Generally, active corruption occurs when a person, directly or through others, for their own benefit or the benefit of another, offers, promises, or proposes any benefit in exchange for a favor.
On the other hand, passive corruption occurs when a person accepts money or another benefit of any kind to perform or omit certain acts.
As summarized by the Directorate-General for Justice Policy (DGPJ), “corruption exists, even if the act (or its omission) is legitimate within the scope of the duties performed by the person concerned and has not been carried out. The unilateral act of offering, giving, soliciting, or receiving a benefit is sufficient for corruption to exist.”
Anti-corruption and anti-bribery laws aim to prohibit payments for improper commercial purposes.
Since bribery and corruption practices are illegal, local laws provide sanctions against individuals or entities engaging in such prohibited activities. Companies may be held liable for such conduct, but it is also important to note that individuals who pay or receive bribes or engage in corrupt behavior may also be personally liable under the law.
Therefore, the first step in complying with this Code is to determine what type of payment is prohibited. To do so, it is necessary to identify what constitutes an improper commercial purpose and then consider which individuals or entities are covered by anti-bribery and anti-corruption laws.

6.1. Which Payments Are Prohibited by Law?

Typically, any improper payment involves money or its equivalent. However, depending on the case, applicable laws stipulate that illegal payments also include anything of value to the receiving party, such as excessive gifts, travel, meals, etc.
Additionally, merely proposing or promising anything of value may be deemed inappropriate. Laws may be violated even if the bribe is not actually paid.
In carrying out these activities, employees and managers may encounter situations that potentially expose INDISOL SA to risks of corruption and related offenses.

7. Prohibition of Corruption in Any Form

Any act of corruption is expressly prohibited, and none of those covered by this regulation may grant or receive, directly or indirectly, any undue advantage, regardless of its nature or purpose, particularly to obtain or maintain favorable treatment.
Given the variety of situations in which corruption and related offenses may occur, it is not possible to exhaustively list all authorized or prohibited behaviors. All those covered by this Code must act with common sense and, in case of doubt, must act with absolute transparency, reporting situations and questions to their hierarchical superiors, the Human Resources Management Department, or the Board of Directors.

8. Relationship with Clients

Negotiations and contract executions with INDISOL SA’s clients must not involve conduct that could be considered corruption, influence peddling, or favoritism.
Those covered by this Code of Conduct must not, under any circumstances, make any illegal payment or grant any other form of advantage, directly or indirectly, to representatives of public or private clients.

9. Facilitation Payments

Facilitation payments are “small bribes made to secure or expedite the performance of a routine or necessary action to which the payer is entitled.”
Those covered by this Code may face requests for facilitation payments, which they must refuse. If confronted with such (illegal) requests, the potential corrupter may be deterred if required to make the request in writing, on official letterhead of the entity they represent, duly signed.
When faced with such situations, employees must inform their hierarchical superiors of the incident.

10. Invitations and Gifts

Offering or receiving gifts and/or invitations is only permitted if it constitutes a mere act of professional courtesy toward business partners, does not raise doubts about the honesty of the giver or the impartiality of the recipient, and is of symbolic value.
The circumstances under which they occur are important in assessing their acceptability, and the following guidelines apply:
Under no circumstances may gifts or invitations be offered or received with the intent to obtain an undue advantage or to unjustifiably influence an official decision. Thus, it is expressly prohibited to accept an offer, for example, from a company with which INDISOL SA is about to enter into a contract.
Any gift or invitation that is not of very low value may only be given or accepted with the prior authorization of the employee’s hierarchical superior.
These situations must be managed with common sense, understanding that the higher the value of the gift or invitation, the greater the suspicion it may raise.
Invitations from client representatives for meals must be limited to strictly professional activities. The cost of the meal should be considered normal according to local customs and should not include guests who are not strictly and directly related to the professional activity.
In case of doubt, employees must obtain prior authorization from their hierarchical superior.
Invitations to events must be professional in nature. Invitations to visit professional fairs, seminars, conferences, or professional facilities involving reasonable travel and accommodation expenses may be accepted.
All gifts or invitations, whether received or offered, must be of low value, and their existence and value must be reported to the hierarchical superior.

11. Reporting Channels

INDISOL SA provides an internal reporting channel for acts of corruption and related offenses, in accordance with applicable legislation, which allows for the secure submission and follow-up of reports, ensuring the confidentiality of the whistleblower’s identity or anonymity.
The handling of reports ensures independence, impartiality, confidentiality, data protection, secrecy, and the absence of conflicts of interest.
The whistleblower’s identity, as well as information that could reveal their identity, is confidential and accessible only to those responsible for receiving or following up on reports.
The whistleblower’s identity is only disclosed pursuant to a legal obligation or judicial decision.
If any circumstance suggests violations of the law or this Code of Conduct, such concerns must be reported through the established mechanisms, particularly through the company’s internal reporting channels.
The reporting channel can be used as follows:

12. Non-Compliance

Non-compliance with the rules established in this Code of Conduct may be sanctioned in accordance with legally prescribed terms and conditions.
Thus, the verification of situations contrary to the values and rules outlined in this Code will result in the initiation of disciplinary proceedings, as provided for in the Labor Code. Consequently, the following sanctions may be applied, proportional to the severity of the infraction and the offender’s culpability, without prejudice to others provided for in collective labor regulations:

  • Reprimand;
  • Recorded reprimand;
  • Financial penalty;
  • Loss of vacation days;
  • Suspension from work with loss of pay and seniority;
  • Dismissal without indemnity or compensation.

Without prejudice to the above, when non-compliance constitutes a criminal offense, the perpetrator may face criminal liability with sanctions outlined in the annex to this Code of Conduct.

ANNEX TO THE CODE OF CONDUCT

Legal Classification of Crimes and Related Offenses and Corresponding Criminal Sanctions, under Articles 3 and 7 of the RGPC

1. Corruption

Penal Code
Article 373
Passive Corruption

  1. An official who, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage, or its promise, for performing any act or omission contrary to the duties of their position, even if prior to such solicitation or acceptance, is punishable by imprisonment from one to eight years.
  2. If the act or omission is not contrary to the duties of the position and the advantage is not due, the offender is punishable by imprisonment from one to five years.

Article 374
Active Corruption

  1. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to an official, or to a third party at the official’s indication or knowledge, a financial or non-financial advantage for the purpose specified in Article 373(1), is punishable by imprisonment from one to five years.
  2. If the purpose is as specified in Article 373(2), the offender is punishable by imprisonment up to three years or a fine up to 360 days.
  3. Attempt is punishable.

Military Justice Code
Article 37
Active Corruption

  1. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a person integrated into or serving in the Armed Forces or other military forces, or to a third party with their knowledge, a financial or non-financial advantage that is not due, for the purpose specified in the previous article and resulting in a danger to national security, is punishable by imprisonment from one to six years.
  2. If the offender is an officer of higher rank than the military person they seek to corrupt or exercises command or leadership functions over them, the minimum penalty is doubled.

Law 50/2007, of August 31, criminal liability regime for behaviors likely to affect the truth, loyalty, and fairness of competition and its outcome in sports activities

Article 8
Passive Corruption
A sports agent who, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage, or its promise, that is not due, for any act or omission intended to alter or falsify the result of a sports competition, even if prior to such solicitation or acceptance, is punishable by imprisonment from one to eight years.

Article 9
Active Corruption

  1. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a sports agent, or to a third party with their knowledge, a financial or non-financial advantage that is not due, for the purpose specified in the previous article, is punishable by imprisonment from one to five years.
  2. Attempt is punishable.

Law 20/2008, of April 21, new criminal regime for corruption in international trade and the private sector

Article 7
Active Corruption with Prejudice to International Trade
Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a national, foreign, or international organization official, or to a holder of a political office, national or foreign, or to a third party with their knowledge, a financial or non-financial advantage that is not due, to obtain or retain a business, contract, or other undue advantage in international trade, is punishable by imprisonment from one to eight years.

Article 8
Passive Corruption in the Private Sector

  1. A private sector worker who, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage, or its promise, that is not due, for any act or omission constituting a violation of their functional duties, is punishable by imprisonment up to five years or a fine up to 600 days.
  2. If the act or omission is likely to cause a distortion of competition or financial harm to third parties, the offender is punishable by imprisonment from one to eight years.

Article 9
Active Corruption in the Private Sector

  1. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a person specified in the previous article, or to a third party with their knowledge, a financial or non-financial advantage that is not due, for the purpose specified therein, is punishable by imprisonment up to three years or a fine.
  2. If the conduct aims to obtain or is likely to cause a distortion of competition or financial harm to third parties, the offender is punishable by imprisonment up to five years or a fine up to 600 days.
  3. Attempt is punishable.
Undue Receipt and Offering of Advantages

Penal Code
Article 372
Undue Receipt or Offering of Advantage

  1. An official who, in the exercise of their functions or because of them, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage that is not due, is punishable by imprisonment up to five years or a fine up to 600 days.
  2. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to an official, or to a third party at their indication or knowledge, a financial or non-financial advantage that is not due, in the exercise of their functions or because of them, is punishable by imprisonment up to three years or a fine up to 360 days.
  3. Socially appropriate conduct consistent with customs is excluded from the above provisions.

Law 34/87, of July 16, crimes of responsibility of political officeholders

Article 16
Undue Receipt or Offering of Advantage

  1. A political officeholder who, in the exercise of their functions or because of them, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage that is not due, is punishable by imprisonment from one to five years.
  2. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a political officeholder, or to a third party at their indication or knowledge, a financial or non-financial advantage that is not due, in the exercise of their functions or because of them, is punishable by imprisonment up to five years or a fine up to 600 days.
  3. A political officeholder who, personally or through an intermediary, with their consent or ratification, gives or promises to another political officeholder, a high public officeholder, or an official, or to a third party with their knowledge, a financial or non-financial advantage, or its promise, that is not due, in the exercise of their functions or because of them, is punishable with the penalties provided in the previous paragraph.
  4. Socially appropriate conduct consistent with customs is excluded from the above provisions.

Law 50/2007, of August 31, criminal liability regime for behaviors likely to affect the truth, loyalty, and fairness of competition and its outcome in sports activities

Article 10-A
Undue Offering or Receipt of Advantage

  1. A sports agent who, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, directly or indirectly, in the exercise of their functions or because of them, a financial or non-financial advantage, or its promise, that is not due, from a person who has had, has, or may have a claim dependent on the exercise of those functions, is punishable by imprisonment up to five years or a fine up to 600 days.
  2. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to a sports agent, or to a third party at their indication or knowledge, a financial or non-financial advantage that is not due, in the exercise of their functions or because of them, is punishable by imprisonment up to three years or a fine up to 360 days.
  3. Socially appropriate conduct consistent with customs is excluded from the above provisions.
Embezzlement

Penal Code
Article 375
Embezzlement

  1. An official who illegitimately appropriates, for their own benefit or that of another person, money or any movable or immovable property or animal, public or private, that was entrusted to them, is in their possession, or is accessible to them by reason of their functions, is punishable by imprisonment from one to eight years, unless a more severe penalty applies under another legal provision.
  2. If the values or objects referred to in the previous paragraph are of low value, as per Article 202(c), the offender is punishable by imprisonment up to three years or a fine.
  3. If the official lends, pledges, or otherwise encumbers the values or objects referred to in paragraph 1, they are punishable by imprisonment up to three years or a fine, unless a more severe penalty applies under another legal provision.

Article 376
Embezzlement of Use

  1. An official who uses or allows another person to use, for purposes other than those intended, immovable property, vehicles, other movable property, or animals of significant value, public or private, that were entrusted to them, are in their possession, or are accessible to them by reason of their functions, is punishable by imprisonment up to one year or a fine up to 120 days.
  2. If the official, without special public interest reasons justifying it, allocates public money for a public use different from that legally designated, they are punishable by imprisonment up to one year or a fine up to 120 days.

Law 34/87, of July 16, crimes of responsibility of political officeholders

Article 20
Embezzlement

  1. A political officeholder who, in the exercise of their functions, illicitly appropriates, for their own benefit or that of another person, money or any movable or immovable property, public or private, that was entrusted to them, is in their possession, or is accessible to them by reason of their functions, is punishable by imprisonment from three to eight years and a fine up to 150 days, unless a more severe penalty applies under another legal provision.
  2. If the offender lends, pledges, or otherwise encumbers any objects referred to in the previous paragraph, with the awareness of causing or potentially causing harm to the State or its owner, they are punishable by imprisonment from one to four years and a fine up to 80 days.
Economic Participation in Business

Penal Code
Article 377
Economic Participation in Business

  1. An official who, with the intent to obtain, for themselves or a third party, illicit economic participation, harms the financial interests they are responsible for administering, supervising, defending, or realizing, in whole or in part, by reason of their functions, is punishable by imprisonment up to five years.
  2. An official who, in any way, receives, for themselves or a third party, a financial advantage as a result of a civil legal act related to interests they have, by reason of their functions at the time of the act, wholly or partially, to administer, supervise, or dispose of, even without causing harm, is punishable by imprisonment up to six months or a fine up to 60 days.
  3. The penalty provided in the previous paragraph also applies to an official who, in any way, receives, for themselves or a third party, a financial advantage as a result of collection, revenue, settlement, or payment they are responsible for ordering or carrying out, wholly or partially, by reason of their functions, provided no harm is caused to the Public Treasury or the interests entrusted to them.

Law 34/87, of July 16, crimes of responsibility of political officeholders

Article 23
Economic Participation in Business

  1. A political officeholder who, with the intent to obtain, for themselves or a third party, illicit economic participation, harms the financial interests they are responsible for administering, supervising, defending, or realizing, in whole or in part, by reason of their functions, is punishable by imprisonment up to five years.
  2. A political officeholder who, in any way, receives a financial advantage as a result of a civil legal act related to interests they have, by reason of their functions at the time of the act, wholly or partially, to administer, supervise, or dispose of, even without causing harm, is punishable by imprisonment up to six months or a fine up to 150 days.
  3. The penalty provided in the previous paragraph also applies to a political officeholder who, in any way, receives an economic advantage as a result of collection, revenue, settlement, or payment they are responsible for ordering or carrying out, wholly or partially, by reason of their functions, provided no economic harm is caused to the Public Treasury or the interests they manage.
Extortion

Penal Code
Article 379
Extortion

  1. An official who, in the exercise of their functions or powers derived therefrom, personally or through an intermediary with their consent or ratification, receives, for themselves, the State, or a third party, through deception or exploitation of the victim’s error, a financial advantage that is not due or is greater than due, such as contributions, fees, emoluments, fines, or penalties, is punishable by imprisonment up to two years or a fine up to 240 days, unless a more severe penalty applies under another legal provision.
  2. If the act is committed through violence or threat of significant harm, the offender is punishable by imprisonment from one to eight years, unless a more severe penalty applies under another legal provision.
Abuse of Power

Penal Code
Article 382
Abuse of Power
An official who, outside the cases provided for in the previous articles, abuses their powers or violates duties inherent to their functions, with the intent to obtain, for themselves or a third party, an illegitimate benefit or to cause harm to another person, is punishable by imprisonment up to three years or a fine, unless a more severe penalty applies under another legal provision.

Law 34/87, of July 16, crimes of responsibility of political officeholders

Article 26
Abuse of Powers

  1. A political officeholder who abuses their powers or violates duties inherent to their functions, with the intent to obtain, for themselves or a third party, an illegitimate benefit or to cause harm to another person, is punishable by imprisonment from six months to three years or a fine from 50 to 100 days, unless a more severe penalty applies under another legal provision.
  2. A political officeholder who fraudulently grants concessions or enters into contracts for the benefit of a third party or to the detriment of the State incurs the penalties provided in the previous paragraph.
Prevarication

Penal Code
Article 369
Denial of Justice and Prevarication

  1. An official who, in the context of an inquiry, judicial process, administrative offense, or disciplinary process, knowingly and against the law, promotes or fails to promote, conducts, decides or fails to decide, or performs an act in the exercise of powers derived from their position, is punishable by imprisonment up to two years or a fine up to 120 days.
  2. If the act is committed with the intent to harm or benefit someone, the official is punishable by imprisonment up to five years.
  3. If, in the case of paragraph 2, the result is the deprivation of a person’s freedom, the offender is punishable by imprisonment from one to eight years.
  4. The penalty provided in the previous paragraph applies to an official who, being competent to do so, orders or executes a freedom-depriving measure illegally or fails to order or execute it as required by law.
  5. In the case referred to in the previous paragraph, if the act is committed with gross negligence, the offender is punishable by imprisonment up to two years or a fine.

Article 370
Prevarication by a Lawyer or Solicitor

  1. A lawyer or solicitor who intentionally harms a case entrusted to their representation is punishable by imprisonment up to three years or a fine.
  2. The same penalty applies to a lawyer or solicitor who, in the same case, represents or provides legal services to persons with conflicting interests, with the intent to act in favor or to the detriment of any of them.

Law 34/87, of July 16, crimes of responsibility of political officeholders

Article 11
Prevarication
A political officeholder who knowingly conducts or decides against the law in a process in which they intervene in the exercise of their functions, with the intent to harm or benefit someone, is punishable by imprisonment from two to eight years.

Influence Peddling

Law 50/2007, of August 31, criminal liability regime for behaviors likely to affect the truth, loyalty, and fairness of competition and its outcome in sports activities

Article 10
Influence Peddling

  1. Whoever, personally or through an intermediary, with their consent or ratification, solicits or accepts, for themselves or a third party, a financial or non-financial advantage, or its promise, to abuse their real or supposed influence with any sports agent, to obtain a decision aimed at altering or falsifying the result of a sports competition, is punishable by imprisonment from one to five years, unless a more severe penalty applies under another legal provision.
  2. Whoever, personally or through an intermediary, with their consent or ratification, gives or promises to another person a financial or non-financial advantage for the purpose referred to in the previous paragraph, is punishable by imprisonment up to three years or a fine, unless a more severe penalty applies under another legal provision.
  3. The provisions of Article 13 apply accordingly.
Money Laundering or Fraud in Obtaining or Misusing Subsidies, Grants, or Credit

Penal Code
Article 368-A
Money Laundering

  1. For the purposes of the following paragraphs, advantages are considered to be assets derived from the commission, in any form of participation, of typical illicit acts punishable by imprisonment with a minimum duration exceeding six months or a maximum duration exceeding five years, or, regardless of the applicable penalties, of typical illicit acts such as:
    a) Procuring, sexual abuse of children or dependent minors, or child pornography;
    b) Computer fraud and communications fraud, extortion, misuse of guarantee or payment cards, devices, or data, counterfeiting of currency or equivalent securities, depreciation of the value of metallic currency or equivalent securities, passing counterfeit currency in concert with the counterfeiter or equivalent securities, passing counterfeit currency or equivalent securities, or acquiring counterfeit currency for circulation or equivalent securities;
    c) Computer forgery, counterfeiting of cards or other payment devices, use of counterfeit cards or other payment devices, acquisition of counterfeit cards or other payment devices, preparatory acts for counterfeiting, acquisition of cards or other payment devices obtained through computer crime, damage to programs or other computer data, computer sabotage, unauthorized access, unauthorized interception, or unauthorized reproduction of protected programs;
    d) Criminal association;
    e) Terrorism;
    f) Drug trafficking and psychotropic substances;
    g) Arms trafficking;
    h) Human trafficking, aiding illegal immigration, or trafficking in human organs or tissues;
    i) Environmental damage, pollution, hazardous activities for the environment, or danger related to animals or plants;
    j) Tax fraud or fraud against social security;
    k) Influence peddling, undue receipt of advantage, corruption, embezzlement, economic participation in business, harmful management in a public sector economic unit, fraud in obtaining or misusing subsidies, grants, or credit, or corruption with prejudice to international trade or the private sector;
    l) Insider trading or market manipulation;
    m) Violation of patent exclusivity, utility model, or semiconductor product topography, violation of exclusive rights related to designs or models, counterfeiting, imitation, and illegal use of trademarks, sale or concealment of products, or fraud concerning goods.
  2. Assets obtained through the assets referred to in the previous paragraph are also considered advantages.
  3. Whoever converts, transfers, assists, or facilitates any conversion or transfer operation of advantages obtained by themselves or a third party, directly or indirectly, to conceal their illicit origin or to prevent the perpetrator or participant in such offenses from being criminally prosecuted or subjected to a criminal reaction, is punishable by imprisonment up to 12 years.
  4. The same penalty applies to whoever conceals or disguises the true nature, origin, location, disposition, movement, or ownership of the advantages or the rights related thereto.
  5. The same penalty also applies to whoever, not being the perpetrator of the typical illicit act from which the advantages originate, acquires, holds, or uses them, with knowledge, at the time of acquisition or initial possession or use, of their nature.
  6. The act is punishable even if the location of the commission of the typical illicit acts from which the advantages originate or the identity of their perpetrators is unknown, or if such acts were committed outside national territory, unless they are lawful under the law of the place where they were committed and Portuguese law does not apply under Article 5.
  7. The act is punishable even if the criminal proceedings related to the typical illicit acts from which the advantages originate depend on a complaint that has not been filed.
  8. The penalty provided in paragraphs 3 to 5 is increased by one-third if the offender engages in the conduct habitually or is one of the entities referred to in Article 3 or Article 4 of Law 83/2017, of August 18, and the offense was committed in the exercise of their professional activities.
  9. When full reparation of the damage caused to the victim by the typical illicit act from which the advantages originate is made, without illegitimate harm to a third party, before the start of the trial hearing in the first instance, the penalty is specially mitigated.
  10. If the requirements provided in the previous paragraph are met, the penalty may be specially mitigated if the reparation is partial.
  11. The penalty may be specially mitigated if the offender actively assists in collecting decisive evidence for the identification or capture of those responsible for the commission of the typical illicit acts from which the advantages originate.
  12. The penalty applied under the above paragraphs may not exceed the maximum limit of the most severe penalty among those provided for the typical illicit acts from which the advantages originate.

Decree-Law 28/84, of January 20, amends the regime in force regarding economic and public health offenses

Article 36
(Fraud in Obtaining Subsidies or Grants)

  1. Whoever obtains a subsidy or grant:
    a) By providing inaccurate or incomplete information about themselves or third parties to the competent authorities or entities regarding facts relevant to the granting of the subsidy or grant;
    b) By omitting, contrary to the legal regime of the subsidy or grant, information about facts relevant to its granting;
    c) By using a document justifying the right to the subsidy or grant or facts relevant to its granting, obtained through inaccurate or incomplete information;
    is punishable by imprisonment from one to five years and a fine from 50 to 150 days.
  2. In particularly serious cases, the penalty is imprisonment from two to eight years.
  3. If the acts provided in this article are committed in the name and interest of a legal entity or company, exclusively or predominantly established for their commission, the court, in addition to the financial penalty, will order its dissolution.
  4. The judgment will be published.
  5. For the purposes of paragraph 2, particularly serious cases are considered those in which the offender:
    a) Obtains for themselves or third parties a subsidy or grant of a considerably high amount or uses false documents;
    b) Commits the act with abuse of their functions or powers;
    c) Obtains assistance from a public officeholder or employee who abuses their functions or powers.
  6. Whoever commits the acts described in paragraphs a) and b) of paragraph 1 with negligence is punishable by imprisonment up to two years or a fine up to 100 days.
  7. The offender is exempt from penalty if:
    a) They spontaneously prevent the granting of the subsidy or grant;
    b) In the case where they are not granted without their involvement, they have made a serious and spontaneous effort to prevent their granting.
  8. Facts considered relevant to the granting of a subsidy or grant are:
    a) Those declared relevant by the law or the entity granting the subsidy or grant;
    b) Those on which the authorization, granting, reimbursement, renewal, or maintenance of a subsidy, grant, or resulting advantage legally depends.

Article 37
(Misuse of Subsidies, Grants, or Subsidized Credit)

  1. Whoever uses benefits obtained as a subsidy or grant for purposes other than those legally intended is punishable by imprisonment up to two years or a fine of no less than 100 days.
  2. The same penalty applies to whoever uses benefits obtained as subsidized credit for a purpose different from that provided in the credit line determined by the legally competent entity.
  3. The penalty is imprisonment from six months to six years and a fine up to 200 days when the values or damages caused are considerably high.
  4. If the acts provided in this article are committed repeatedly in the name and interest of a legal entity or company and the damage has not been spontaneously repaired, the court will order its dissolution.
  5. The judgment will be published.

Article 38
(Fraud in Obtaining Credit)

  1. Whoever, when submitting a proposal for the granting, maintenance, or modification of the conditions of a credit intended for an establishment or company:
    a) Provides inaccurate or incomplete written information intended to accredit them or relevant to the decision on the request;
    b) Uses documents related to the economic situation that are inaccurate or incomplete, such as balance sheets, profit and loss statements, general asset descriptions, or appraisals;
    c) Conceals deteriorations in the economic situation that have occurred since the credit request and are relevant to the decision on the request;
    is punishable by imprisonment up to three years and a fine up to 150 days.
  2. If the offender, acting as described in the previous paragraph, obtains credit of a considerably high value, the penalty may be increased to up to five years of imprisonment and a fine up to 200 days.
  3. In the case of the previous paragraph, if the crime was committed in the name and interest of a legal entity or company, the court may order their dissolution.
  4. The offender is exempt from penalty:
    a) If they spontaneously prevent the creditor from delivering the requested benefit;
    b) If, in the case where the benefit was not delivered without their involvement, they have made a serious and spontaneous effort to prevent its delivery.
  5. The judgment will be published.