Polska Organizacja FranczyzodawcówEmployers' association

Manner of representation

The organization is represented in relations with third parties, subject to the reservation arising from Section 34, by: 1. the President and the Vice-President – each of them independently; 2. two members of the management board – jointly. With regard to financial obligations, the above authorization to act on behalf of the organization applies exclusively to acts of ordinary management in the conduct of the organization’s current affairs. Each act exceeding the scope of ordinary management which may result in an obligation whose total value exceeds PLN 50,000 (fifty thousand), requires the prior consent of the General Meeting of Members.