80. Disposition of assets
Any sale, transfer, lease, exchange or other disposition of more than 50% of the assets of an international business company, other than a transfer under the power described in section 14(2), if not made in the usual or regular course of business carried on by the international business company, shall be made as follows—
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(a) the proposed sale, transfer, lease, exchange or other disposition must be approved by the directors;
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(b) upon approval of the proposed sale, transfer, lease, exchange or other disposition, the directors must submit the proposal to the members for it to be authorised by a resolution of members;
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(c) if a meeting of members is to be held, notice of the meeting, accompanied by an outline of the proposal, must be given to each member, whether or not the member is entitled to vote on the sale, transfer, lease, exchange or other disposition; and
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(d) if it is proposed to obtain the written consent of members, an outline of the proposal must be given to each member, whether or not the member is entitled to consent to the sale, transfer, lease, exchange or other disposition.