SECTION 197

Merger, demerger and partial contributionof assets operations shall be decided, for each of the companies involved, pursuant to conditions required for the amendments of thearticles of association and in accordance with procedures followed for capital increase and company dissolution. The invalidityof relevant deliberationsshall be governed by the same rules. However, where the proposed transaction has the effect ofincreasingin the commitments of members or shareholders of one or more companies involved, it may only be decided unanimously by the said membersor shareholders. Resolutionstaken in violation of the provisions of this paragraph shall be null.