95 Application of enforcement monies

Subject to any provision to the contrary in the instrument creating a pledge of
engorgement monies
shares of a company, all amounts that accrue from the enforcement of the pledge
shall be applied in the following manner —

(a) firstly, in meeting the costs incurred in enforcing the pledge;

(b) secondly, in discharging the sums secured by the pledge; and

(c) thirdly, in paying any balance due to the pledgor.