Iskierka Praw DzieckaFoundation

Manner of representation

In non-property matters, each member of the management board, including the Vice-President and the President of the Management Board, may represent the foundation independently and submit declarations of will on its behalf without limitation. In property matters, the President of the Management Board may submit declarations of will on behalf of the foundation without limitation, including as to amount. The Vice-President of the Management Board may submit declarations of will on behalf of the foundation which result in obligations arising in an amount not exceeding PLN 10,000; concluding agreements above this amount requires joint action with the President of the Management Board or one member of the management board or one commercial proxy. A member of the management board may submit declarations of will on behalf of the foundation which result in obligations or benefits arising in an amount not exceeding PLN 5,000; concluding agreements above this amount requires joint action with the President of the Management Board or the Vice-President of the Management Board or one commercial proxy.