Mammy CelFoundation

Manner of representation

Each member of the management board may independently incur liabilities and manage financial resources up to PLN 20,000. In the event of incurring liabilities and making financial decisions above PLN 20,000, the consent of all members of the management board is required. The management board may unanimously authorize a member of the management board to independently incur liabilities and make financial decisions above PLN 20,000. In doing so, the management board may specify the scope of the authorization and the maximum amount up to which liabilities may be incurred and financial decisions may be made by the authorized member of the management board.