Fundcja na Rzecz Pomocy KonsumentomFoundation

Manner of representation

In matters not exceeding ordinary management, the President and the Vice-President are authorised to represent the foundation independently. If a multi-member management board is appointed, in order to make declarations of will on behalf of the foundation in matters exceeding ordinary management, joint action by two members of the management board is required. Acts exceeding ordinary management are actions having a significant impact on the legal, financial or operational situation of the foundation, including in particular the following catalogue of acts: 1) incurring financial liabilities or expenses exceeding the control threshold (§ 11), including individual expenses, series of expenses related to the same purpose and spread over a period of up to three months, or any other liabilities of a value corresponding to that amount; 2) concluding credit or leasing agreements or guaranteeing third-party liabilities; 3) disposing of the foundation's assets, including the sale, lease or tenancy of real estate; 4) initiating court disputes or submitting to enforcement; 5) disposing of economic copyrights or other intellectual property rights; 6) changing the correspondence address of the foundation or its organisational units; 7) submitting financial statements; 8) liquidating branches or other organisational units; 9) making a decision to liquidate the foundation; 10) making amendments to the statute; 11) other actions of similar significance that may affect the stability or purpose of the foundation.