178 Company may charge its assets

(1) Subject to its memorandum and articles, a company may, by an

instrument in writing, create a charge over all or any of its property.

(2) The governing law of a charge created by a company may be the law of
such jurisdiction that may be agreed between the company and the
chargee and the charge shall be binding on the company to the extent,
and in accordance with, the requirements of the governing law.


(3) Where a company acquires property subject to a charge —

(a) subsection (1) does not require the acquisition of the property to
be by instrument in writing, if the acquisition is not otherwise
required to be by instrument in writing; and

(b) unless the company and the chargee agree otherwise, the
governing law of the charge is the law that governs the charge
immediately before the acquisition by the company of the
property subject to the charge.