Unfortunately, not at all. According to § 50 I HGB (German Commercial Code), the power of attorney of an authorized signatory cannot be restricted vis-à-vis third parties. This is also a reason for the great differences between Italian and German commercial register extracts. German commercial register extracts are very concise and usually consist of 2-3 pages. The Italian extracts from the commercial register extend to over 20 pages, and the rights of the authorized signatories and the rights of the members of the board of directors are set out in great detail. In the internal relationship, i.e. vis-à-vis the company itself, the power of representation can of course be limited.