Fundacja Ww Wiedza I WspółpracaFoundation

Manner of representation

1. Subject to paragraphs 3–4, the President of the Management Board or each member of the management board is authorised independently to make declarations of will on behalf of the foundation. 2. In matters resulting in the incurring of a financial liability or disposal of the foundation's assets up to PLN 20,000.00, the foundation may be represented independently by the President of the Management Board or each member of the management board. 3. In matters resulting in the incurring of a financial liability or disposal of the foundation's assets exceeding PLN 20,000.00, the joint action of two members of the management board, including the President of the Management Board, is required. 4. If the management board is a one-person management board, all declarations of will on behalf of the foundation, including those concerning financial liabilities or disposal of assets, are made independently by the President of the Management Board.