A circuit for controlled commutation of multiplexed electrodes, for an active implantable medical device. This circuit is located in a lead equipped with multiplexed sensing/pacing electrodes. This circuit decodes a signal generated by a generator, commanding a series of switches, which ensures selective coupling of the various electrodes to the proximal and distal terminals of the generator. This signal is a modulated signal comprising a coded series of logic pulses defining a particular configuration for coupling the lead electrodes to the proximal or distal terminal of the generator. The signal comprises a micropulse, that precedes the coded series of logic pulses and has an amplitude and duration lower than the amplitude and duration of each of the logic pulses. The detection of this micropulse activates, in response, all the circuit switches to an open position over a duration (PHASE 1) at least equal to the duration of reception of the coded series of logic pulses.