Fundacja Nauka w RozwojuFoundation

Manner of representation

1. In all matters, declarations of will on behalf of the foundation may be made by each member of the management board independently. 2. For making declarations of will in property matters with a value exceeding PLN 1,500, joint action by two members of the management board, including the President or Vice-President of the Management Board, or by a member of the management board jointly with a duly authorised attorney-in-fact authorised by the Foundation Council, is required, subject to the provisions of § 20(3)(e) of the foundation’s articles of association, i.e. consent to dispose of the foundation’s financial resources in excess of PLN 5,000 falls within the competence of the Foundation Council.