Fundacja Patrz SzerzejFoundation

Manner of representation

1. Declarations of will on behalf of the foundation may be made independently by the President of the Management Board and by each member of the management board. 2. Each member of the management board has the right and obligation to conduct the affairs of the foundation. Each member of the management board may, without a prior resolution of the management board, conduct matters not exceeding the scope of the foundation’s ordinary activities. However, if, before a given matter is dealt with, even one of the other members of the management board objects to its conduct, a prior resolution of the management board is required. 3. A resolution of the management board requires an absolute majority of votes. In the event of an equal number of votes, the vote of the President of the Management Board is decisive. Resolutions are adopted at a meeting or in writing. 4. In matters exceeding the scope of the foundation’s ordinary activities, i.e. in the case of carrying out the following activities: - incurring and entering into loan agreements with a value exceeding PLN 1,000.00 (one thousand zlotys) and entering into loan agreements with a value exceeding the foregoing amount; - entering into donation agreements in which the foundation acts as donor, with a value exceeding PLN 1,000.00 (one thousand zlotys); - making changes concerning persons authorised to operate the foundation’s bank accounts and credit facilities; - entering into agreements giving rise to an obligation on the part of the foundation exceeding PLN 200,000.00 (two hundred thousand zlotys); - disposing of or leasing the enterprise or its organised part, and establishing a limited right in rem thereon; - entering into agreements for the purchase or sale of real property; - entering into agreements for the lease or tenancy of real property; prior written consent of the majority of the members of the management board is required.