7 Effect of floating charge
Agricultural Credits Act 1928 (1928 c 43) | Legislation

7  Effect of floating charge

(1)     An agricultural charge creating a floating charge shall have the like effect as if the charge had been created by a duly registered debenture issued by a company:

Provided that—

(a)     the charge shall become a fixed charge upon the property comprised in the charge as existing at the date of its becoming

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