(a) The law governing, as applicable, the validity, enforceability, attachment, perfection, priority and exercise of remedies with respect to the sale, transfer or conveyance of the Matching Fund Receipts and the Related Rights pursuant to this chapter or the creation of a security interest in, or lien on, the Trust Estate is exclusively the of the Virgin Islands, notwithstanding any contrary contract provision.
(b) If there is a conflict between this chapter and any other law regarding the attachment, assignment or perfection, or the effect of perfection, or priority of any pledge of, security interest in or transfer of the Trust Estate, this chapter controls to the extent of the conflict.