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3. The depository shall continue to be liable even if it entrusts the pension fund assets, in whole or in part, to a third party for safekeeping.

CHAPTER VI FINAL AND TRANSITIONAL PROVISIONS

Article 46 (Fiscal regime)

  • 1.

    Pension plans and pension funds shall be exempt from all taxes, rates or duties in relation to:

    • a)

      All juridical acts inherent to their respective constitution and

subscription from third parties;

  • b)

    The initial assets which form the respective patrimony, including their applications and the income generated therefrom;

  • c)

    The contributions made by the associates, participants and contributors;

    • d)

      The instalments paid on its account, with the exemption applicable both to the payer and the beneficiary of such instalments.

  • 2.

    The contributions made to the pension plans and pension funds shall be considered revenue expenses of the year.

(a) Article 47 (Transitional regime)

(a) According to the provisions of the Article 2 of Law n° 10/2001 of 2 July:

“1. The period laid down in Article 47 paragraph 1 of Decree-Law nº 6/99/M of 8 February is hereby extended to 31 December 2002.

2.

During the period from 8 March 2001 to the effective date of the present law, the provident funds shall also benefit from the fiscal regime established in Decree-Law nº 6/99/M of 8 February.”

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