Amendment of section 45.
Amendment of section 50.
Amendment of section 53.
Amendment of section 56.
Addition of new section 56A,
Amendment of section 58.
Amendment of section 60.
Amendment of section 62.
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(ii) by deleting "the deed" and substituting the following-
"the instrument"; and
(b) in subsection (2), by deleting "deed" from the three places where it
appears and substituting the following-
"instrument".
14. Section 45(3) of the principal Ordinance is amended by inserting, immediately after "tack", the following-
"in relation to land".
15. Section 50(6) of the principal Ordinance is amended by deleting "property" and substituting the following-
"land".
16. Section 53(1) of the principal Ordinance is amended by deleting "A sale of land, under an express or statutory power of sale, by a mortgagee or receiver" and substituting the following-
"Where a mortgagee or receiver sells under an express or statutory power of sale, the assignment".
17. Section 56(1) of the principal Ordinance is amended by inserting, immediately after "discharge", the following-
"and, where applicable, reassignment".
18. The principal Ordinance is amended by adding, immediately after section 56, the following-
"Floating charges.
56A. (1) An act by which a person purports to grant a charge as security over all or part of such property as he may own from time to time (commonly called "a floating charge"), whether or not that person agrees to any restriction on his right to alienate that property, shall not affect any estate or interest in any land, being part of that property, acquired by any other person before crystallization of that floating charge, whether or not that other person had actual or constructive notice of that floating charge.
(2) This section applies to any floating charge granted on or after 1 November 1984.".
19. Section 58(9) of the principal Ordinance is amended by deleting "This section" and substituting the following-
"Except in subsection (4), this section".
20. Section 60(3) of the principal Ordinance is amended by deleting "land" and substituting the following-
"property".
21. Section 62 of the principal Ordinance is amended-