Fundacja Rozwoju Innowacyjnych i Nowoczesnych TechnologiiFoundation

Manner of representation

Subject to the provisions of § 8(2) of the articles of association, each member of the management board of the foundation independently is authorised to submit declarations of will in all matters, including incurring property liabilities, on behalf of the foundation. Where the submission of a declaration of will concerns the acquisition, disposal or encumbrance of real property, the establishment of, accession to or disposal of a commercial-law company or shares therein, or the disposal of part or all of an enterprise, the validity of such declaration of will requires the written consent of the foundation council.