IOC, COC, and FIDE go to improve the governance of own organizations and their federations. COC is not pushing on non-Olympic sport federations - they wish that the practices (Code) will be adopted. Far far from removing the NFP status. The Code itself is great thing, but you shall not start picking one item and declare that otherwise the CFC will be closed.
The draft is at
https://nso.olympic.ca/wp-content/up...an-27-2021.pdf for everyone to read.
For some items the CFC would require to change operating model:
"No member of the NSO’s management or executive team shall be a board member. No board member of an NSO shall become the CEO or interim CEO of that NSO during his or her term as a director and for 12 months thereafter." NSO - national sport organization.