Fundacja KefasFoundation

Manner of representation

1. To make declarations of will concerning the foundation’s property rights and obligations and to sign agreements and obligations on its behalf, the joint action of two members of the foundation’s management board, including the President of the Management Board or a person authorised by the President of the Management Board to perform the act, is required. 2. In matters not related to incurring property obligations exceeding PLN 10,000 (ten thousand zlotys), declarations of will on behalf of the foundation may be made independently by each member of the management board. 3. In matters related to incurring property obligations exceeding PLN 10,000 (ten thousand zlotys), the declaration of will on behalf of the foundation is made by the President of the Foundation together with one member of the foundation’s management board, or by two members of the management board acting unanimously.