(1)The owner of a market undertaking, or of any rights in respect of a market and of tolls, whether established under, or enjoyed by virtue of, statutory powers or not, may sell or lease to a local authority the whole or any part of his market undertaking or rights, but subject to all attached liabilities.
(2)A sale by a market company under this section must be authorised—
(a)if the company is a company within the meaning of the [1948 c. 38.] Companies Act 1948, by a special resolution of the members passed in the manner provided in Part IV of that Act;
(b)if the company is not such a company, by a resolution passed by three-fourths in number and value of the members present, either personally or by proxy, at a meeting specially convened for the purpose with notice of the business to be transacted.