Ogólnopolskie Stowarzyszenie Dystrybutorów Niezależnych Energii ElektrycznejAssociation

Manner of representation

1. The conclusion of agreements, the granting of powers of attorney and the making of other declarations of will in the association's property matters require the joint action of two persons authorised within the meaning of the statutes, subject to paragraph 3 below. 2. An authorised person is each member of the association's management board or a member of the association authorised by the management board. 3. The President of the association's management board is authorised to independently make decisions concerning the incurring of a financial liability or the disposal of the association's funds up to PLN 2,000. 4. The validity of other declarations, letters and documents submitted by the association requires the signature of the President of the Management Board or the joint action of two members of the management board. 5. In agreements between the association and a member of the management board and in disputes with such member, the association is represented by a member of the audit committee designated in a resolution of that body or by an attorney-in-fact appointed by a resolution of the General Meeting of Members.