Financial Institutions and Markets

Decree-Law no. 11/2022 of 12 January was published, establishing the innovative legal framework for participating loans in the national legal system, setting out the essential characteristics of participating loans, namely their definition, the identification of the financial sector entities authorised to market them, the conditions for the remuneration or repayment of the credit or debt securities, the rules regarding the conversion of the participating loan into equity, as well as the corporate provisions that regulate the relationship between the company, its shareholders and the financial sector entities or its investors, without prejudice to the principle of exclusivity and the autonomy of the parties to stipulate otherwise than as established in this regime.