4. Amendment of section 431 of the principal enactment

Section 431 of the principal enactment is hereby amended by the addition immediately after subsection (6)

of that section, of the following new subsection: -

“(7) Where any movable property owned by a company is subject to a floating charge which is registered under the Secured Transactions Act,

No. 17 of 2024, the provisions relating to priority contained in that Act shall apply in determining the priority of such floating charge.”.