17.2.9 FUNDAMENTAL TRANSACTIONS INVOLVING AN NPC
An NPC may not convert to a profit company and is also prohibited from amalgamating or merging with a profit company.
An NPC may dispose of any part of its assets or undertaking or business to a profit company provided that it does so at a fair value. If the value is less than fair this must be in accordance with the ordinary course of the NPC’s activities.
If an NPC has voting members, any proposal to dispose of all or greater parts of the assets or undertaking or to amalgamate or merge with another NPC must be submitted to voting members for approval in a manner comparable to that required of a profit company in accordance with ss 112 and 113 respectively. In this event ss 115 and 116 must apply.