Fundacja Neuro-CentrumFoundation

Manner of representation

1. In the case of a one-person management board, the President of the Management Board is authorised to submit declarations of will and incur obligations on behalf of the foundation, subject to section 3. 2. In the case of a multi-member management board, each member of the management board acting independently is authorised to submit declarations of will and incur obligations on behalf of the foundation, subject to section 3. 3. The performance by the management board of a legal act disposing of a right or creating an obligation to render a performance, the value of which exceeds PLN 50,000.00 (fifty thousand zlotys), requires the consent of the foundation council. 4. The limitation referred to in section 3 of this paragraph also applies to incurring periodic/cyclical obligations which will result within 12 months in an obligation exceeding PLN 50,000.00 (fifty thousand zlotys).