A null pointer constant ([conv.ptr]) can be converted to a pointer to member type; the result is the null member pointer value of that type and is distinguishable from any pointer to member not created from a null pointer constant. Such a conversion is called a null member pointer conversion. Two null member pointer values of the same type shall compare equal. The conversion of a null pointer constant to a pointer to member of cv-qualified type is a single conversion, and not the sequence of a pointer to member conversion followed by a qualification conversion ([conv.qual]).
A prvalue of type “pointer to member of B of type cv T”, where B is a class type, can be converted to a prvalue of type “pointer to member of D of type cv T”, where D is a derived class (Clause [class.derived]) of B. If B is an inaccessible (Clause [class.access]), ambiguous ([class.member.lookup]), or virtual ([class.mi]) base class of D, or a base class of a virtual base class of D, a program that necessitates this conversion is ill-formed. The result of the conversion refers to the same member as the pointer to member before the conversion took place, but it refers to the base class member as if it were a member of the derived class. The result refers to the member in D's instance of B. Since the result has type “pointer to member of D of type cv T”, it can be dereferenced with a D object. The result is the same as if the pointer to member of B were dereferenced with the B subobject of D. The null member pointer value is converted to the null member pointer value of the destination type.57
The rule for conversion of pointers to members (from pointer to member of base to pointer to member of derived) appears inverted compared to the rule for pointers to objects (from pointer to derived to pointer to base) ([conv.ptr], Clause [class.derived]). This inversion is necessary to ensure type safety. Note that a pointer to member is not an object pointer or a function pointer and the rules for conversions of such pointers do not apply to pointers to members. In particular, a pointer to member cannot be converted to a void*.