Nieruchomości Zatorscysp. j.

Manner of representation

In matters not exceeding the scope of ordinary activities, each partner is authorised to represent the company and make declarations of will on its behalf independently, or the appointed commercial proxy. In matters exceeding the scope of ordinary activities, the joint action of two partners or of one partner and a commercial proxy is required to represent the company and make declarations of will on its behalf. Matters exceeding the scope of ordinary activities include, in particular: the acquisition or disposal of real property; the acquisition by the company of shares or equity interests in other business entities; the acquisition by the company of fixed assets; taking out loans or borrowings; establishing a pledge, mortgage, transfer of ownership by way of security and other encumbrances on the company's assets; and incurring liabilities with a deferred payment date in favour of the company for a period exceeding three months.