Polska Federacja Dawnych Europejskich Sztuk WalkiUnion of associations

Manner of representation

1. Declarations of will on behalf of the federation are made by: a. the President of the federation independently; b. two members of the Presidium of the management board of the federation acting jointly; c. a member of the Presidium acting jointly with a member of the management board. 2. Making declarations of will leading to the assumption of financial liabilities, disposing of the federation’s assets and undertaking similar actions producing financial or proprietary effects for the federation requires a resolution of the management board of the federation. 3. For representing the federation with regard to banking products, in particular entering into and terminating framework agreements, as well as opening, operating and closing savings and current accounts, savings accounts, deposit accounts and other accounts, the method of representation specified in § 31(1) of the federation’s articles of association applies. This provision does not apply to incurring or acquiring financial liabilities in the form of loans, borrowings, investment products and other products producing similar financial effects for the federation.