Section 86: Pledges
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
86. Pledges
(1) Any share or debenture may be given in pledge in all civil and commercial transactions in accordance with the Code Civil Mauricien and any
other applicable law.
[Issue 1] C35 – 62
Revised Laws of Mauritius
(2) Every company shall keep a register in which—
(a) the transfer of shares or debentures given in pledge may be
inscribed;
(b) it shall be stated that the pledgee holds the share or debenture
not as owner but in pledge of a debt the amount of which shall,
in the case of a civil pledge, be mentioned.
(3) A pledge shall be sufficiently proved by a transfer inscribed in the
register.
(4) The transfer shall be signed by the pledger, the pledgee and the Secretary of the company.
[S. 86 amended by s. 6 (c) of Act 15 of 2006 w.e.f. 7 August 2006.]
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Questions this section answers
- Can I give my shares or debentures in pledge for a debt?
- Who must sign the register entry recording a pledge of shares?