Powers of the Management Board

The Management Board carries out the zone development plan set out in the regulation of the minister responsible for the economy.

Every matter that goes beyond the ordinary course of the Company’s business requires a resolution of the Management Board.

A resolution of the Management Board is required in particular for:

1. the rules of procedure of the Management Board,
2. the organisational rules of the Company’s enterprise,
3. the rules of the special economic zone,
4. the creation and winding-up of branches,
5. the appointment of a commercial proxy,
6. taking out credits and loans,
7. the adoption of annual operating and financial plans and of multi-year strategic plans,
8. the assumption of contingent liabilities, including guarantees and sureties granted by the Company and the issue of promissory notes, subject to § 27(2)(3) and (4) of the Company’s Statute,
9. the acquisition and disposal of fixed assets with a value equal to or above PLN 40,000.00, subject to § 27(2)(1)–(3) and § 44(3)(2)–(4) of the Company’s Statute,
10. matters the Management Board refers to the Supervisory Board,
11. the choice of a lessee or tenant of a particular property of the Company and the material terms of that lease or tenancy, where it is concluded for a fixed term of three to twelve months,
12. the choice of a lessee of land owned by the Company with an area of no more than 30 m², whatever the term of the agreement, and the material terms of that lease.