Fundacja AlterluminaFoundation

Manner of representation

1. In the case of a one-person management board, the President of the Management Board represents the foundation independently. 2. In the case of a multi-member management board, each member of the management board is authorised to act independently in the foundation's current affairs. 3. Joint action by two members of the management board is required to make declarations of will in property and financial matters exceeding PLN 3,000. 4. The acts referred to in paragraph 3 include, in particular: a) incurring financial liabilities, including loans and borrowings, b) entering into agreements of a property or financial nature, c) disposing of the foundation's assets, d) making investment decisions. 5. The management board may grant powers of attorney to perform specified legal acts.