O-N Libra Finance Niespodziewański, Ordonsp. j.

Manner of representation

The partners are entitled, each independently, to conduct all affairs of the company and to represent the company in this scope. In matters exceeding the scope of ordinary activities, a unanimous resolution of all partners of the company is required. Each partner entitled to represent the company may, without a resolution, undertake an act exceeding the scope of the ordinary activities of the company if failure to undertake such act could cause serious harm to the company. By resolution, the partners may authorise one of them to independently conduct a specific matter or matters exceeding the scope of the ordinary activities of the company. Matters exceeding the scope of the ordinary activities of the company include, in particular: a) incurring liabilities or disposing of a right with a total value exceeding PLN 5,000 in one transaction or in several transactions or partial payments; b) granting or taking out a loan or credit, or establishing; c) issuance by the company of a blank bill of exchange.