RegeneracjaFoundation

Manner of representation

1. In non-property matters, the foundation may be represented and declarations of will may be submitted on its behalf by each member of the management board acting independently. 2. In property matters: a) up to the amount of PLN 200,000.00 (two hundred thousand zlotys), the foundation is represented independently by the President of the Management Board; b) above the amount of PLN 200,000.00, joint action by the President of the Management Board together with another member of the management board or a prior resolution of the management board is required. 3. In the event of the long-term incapacity of the President of the Management Board preventing her from performing her function, the right to independently represent the foundation in property matters up to the amount of PLN 200,000.00 and the right to joint action in matters exceeding this amount pass to a member of the management board authorised by the management board on the basis of an appropriate resolution of the management board, until the cause of the incapacity ceases.