Fundacja MinxisFoundation

Manner of representation

1. If the management board is a multi-member management board, the President of the Management Board makes declarations of will on behalf of the foundation independently and individually, both in the case of acts within and acts exceeding the scope of ordinary management; the Vice-President of the Management Board makes declarations of will on behalf of the foundation independently with respect to acts within the scope of ordinary management, up to the amount of PLN 1,000. In the case of a one-person management board, a declaration of will by one member of the management board is sufficient both with respect to acts within and acts exceeding the scope of ordinary management. 2. In matters of ordinary management, including property matters whose value does not exceed PLN 1,000, declarations of will on behalf of the foundation may also be made by two members of the management board acting jointly. 3. On the basis of a resolution of the management board, the management board may grant general or special powers of attorney to an attorney-in-fact to undertake specified actions and make declarations of will on behalf of the foundation. Such power of attorney may be revoked at any time. 4. The foundation is represented externally by the President of the Management Board or the Vice-President of the Management Board, or by members of the management board authorised by the President of the Management Board.