Fundacja Kingi Kaczor przy Teatrze NiewielkimFoundation

Manner of representation

1. In non-property matters, each male or female member of the management board independently is authorised to make declarations of will on behalf of the foundation and to receive declarations addressed to the foundation. 2. In the foundation’s property matters, including the conclusion of agreements and the granting of powers of attorney, where the value of the obligation: 1) is less than or equal to PLN 10,000.00 (ten thousand and 00/100 zlotys) on a one-off basis, each male or female member of the management board independently is authorised to represent the foundation; 2) exceeds PLN 10,000.00 (ten thousand and 00/100 zlotys) on a one-off basis–in the case of a multi-member management board, the joint action of two members of the management board simultaneously is required, and in a one-person management board, the President or female President of the Management Board independently is authorised. 3. Incurring an obligation on behalf of the foundation which, on a one-off basis or during a monthly period, exceeds the equivalent of PLN 100,000.00 (one hundred thousand zlotys) requires the prior written consent of the Foundation Council, expressed in the form of a resolution. 4. In agreements between the foundation and a male or female member of the management board, and in disputes between them, the foundation is represented by an attorney-in-fact appointed by a resolution of the Foundation Council.