Biuro Obsługi Finansowej Szkółsp. z o.o.

Manner of representation

If a multi-member management board is appointed, the following persons are authorised to make declarations of will on behalf of the company: A) each member of the management board independently, except for performing the legal transactions listed in point B; B) the joint action of two members of the management board or of a member of the management board jointly with a commercial proxy is required to perform the following legal transactions: • disposal of a right or incurrence of an obligation to render a performance with a value exceeding PLN 20,000.00 (twenty thousand zlotys), or release from such obligation; in the case of contracts recurring with the same counterparty or contracts involving periodic performances, the value of the obligations is summed for a period of one calendar year; • incurrence of a bank loan; • sale or encumbrance of real property or a fixed asset of the company; • sale, lease, tenancy, paid or unpaid use of an organised part of the enterprise or of the company's enterprise; • establishment of a commercial proxy, acquisition or taking up by the company of interests or shares in other companies; • granting by the company of a donation, surety or guarantee, and establishment of a mortgage; • issuing a bill of exchange on behalf of the company or granting a bill-of-exchange surety.