SECTION 44

Where the shares of a commercial company are pledged, the pledgee shall present the following to the Registry of the competent court within whose jurisdiction the company is registered: 1°) the original pledge agreement if it is a private contract, or a copy thereof if it was drawn up by a notary public or results from a court decision authorising the creditor to register the pledge; 2°) four copies of a registration form stating: a) the full names, corporate name, share capital, address or registered office of the parties, as well as the registration number of the company whose shares have been pledged; b) the nature and date of the filed pledge agreement(s); c) the amount of money due on the last day preceding the registration of the pledge and, where applicable, the conditions on which the debt may be repayable; d) the pledgee’s address of service within the jurisdiction of the court where the Trade and Personal Property Rights Register is kept. Any modification by agreement or court order shall be the subject of an amendment in the Register under the same conditions and forms as provided for the initial entry.