94 Pledge of shares governed by foreign law

Where the governing law of a pledge of shares in a company is not the law of

Seychelles —


(a) the pledge shall be in compliance with the requirements of its governing
law in order for the pledge to be valid and binding on the company; and

(b) the remedies available to a pledgee shall be governed by the governing law
and the instrument creating the pledge, except that the rights between the
pledgor or pledgee as a member of the company and the company shall
continue to be governed by the memorandum and articles of the company
and this Act.