Europejska Fundacja Wspierania Innowacji i PrzedsiębiorczościFoundation

Manner of representation

Each member of the management board is authorised to represent the foundation independently, except for: 1) acts involving the disposal of the foundation's property or the incurring of liabilities by the foundation exceeding PLN 40,000.00 (forty thousand and 00/100 zlotys); 2) making declarations of will accepting an inheritance with the benefit of inventory where the foundation is appointed to inherit; 3) decisions on establishing an establishment and appointing and dismissing its manager; 4) decisions on the liquidation of an establishment and appointing liquidators of that establishment; 5) granting an attorney-in-fact authority to dispose of or encumber the fixed assets of an establishment, in particular to dispose of or encumber real estate; 6) adopting the organisational regulations of an establishment; 7) determining the level of employment, the remuneration rules for the foundation's employees and the amount of funds allocated to remuneration; 8) making decisions concerning investment projects, in which cases a resolution of the management board adopted by a simple majority of votes is required.