NOHO Wrocławsp. z o.o.

Manner of representation

In the case of a one-person management board, the sole member of the management board is entitled to make declarations of will on behalf of the company. In the case of a two-member management board, the President of the Management Board may act independently with respect to incurring liabilities and disposing of rights with a value of up to PLN 1,000,000.00 (one million zlotys), whereas with respect to incurring liabilities and disposing of rights with a value exceeding PLN 1,000,000.00 (one million zlotys), the joint action of the President of the Management Board together with a member of the management board is required, excluding all matters concerning the acquisition, disposal or encumbrance of ownership of real property, perpetual usufruct or a share in those rights, in which matters the company will be represented by the President of the Management Board acting together with a member of the management board jointly.