Polska Fundacja Dzieci i MłodzieżyFoundation

Manner of representation

1. In the case of a multi-member management board, declarations of will on behalf of the foundation shall be made: a) with respect to ordinary management activities – by the Director of the Foundation independently; b) with respect to activities exceeding ordinary management – by the Director of the Foundation jointly with another member of the management board; c) by attorneys-in-fact within the scope of the powers of attorney granted to them, pursuant to paragraph 3 of this section. 2. In the case of a one-person management board, declarations of will on behalf of the foundation shall be made by the Director of the Foundation or an attorney-in-fact within the scope of the power of attorney granted to them. 3. The management board of the foundation may, in accordance with the rules of representation specified in paragraph 1, grant powers of attorney to individual members of the management board or third parties to perform a specific act or acts of a specific type; however, granting a power of attorney for acts related to investing the foundation’s financial resources requires the prior written consent of the management board.