Fundacja Happy KidsFoundation

Manner of representation

Declarations of will and declarations of knowledge on behalf of the foundation are made by the management board. If the management board is a one-person management board, declarations are made by the President of the Management Board; if it is a multi-member management board, each member is authorised to make declarations on behalf of the management board independently, subject to the following: 1. in acts creating obligations or disposing of assets up to a value not exceeding PLN 100,000.00 (in words: one hundred thousand zloty), each member independently; 2. in acts creating obligations or disposing of assets from PLN 100,000.00 (in words: one hundred thousand zloty) up to a value not exceeding PLN 500,000.00 (in words: five hundred thousand zloty), the President of the Management Board independently, or a member of the management board jointly with the President of the Management Board; 3. in acts creating obligations or disposing of assets exceeding PLN 500,000.00 (in words: five hundred thousand zloty), exclusively after obtaining the consent of the Foundation Council, the President of the Management Board independently, or a member of the management board jointly with the President of the Management Board.