Section 24, The Borrowers and Lenders Act, 2014

(1) A security interest in serial-numbered collateral madeeffective by registration contrary to subsection (2) of section 10 of the Act, that otherwise satisfies the requirements of these Regulations, shall be effective against third parties other than buyers and lessees of that collateral for value. (2) A security interest in movable assets that is made effective against third parties by registration in the Collateral Registry before the time when the movable assets are affixed to immovable property, has priority with respect to goods, over a claim made by a person with an interest in the immovable property. (3) A lender who has the right to remove goods from immovable property, shall exercise this right of removal in a manner that causes no greater damage or injury to the immovable property and to other properties situated on it than is necessarily incidental to the removal of the goods. (4) A security interest in crops, whether grown, growing or to be grown, made effective against third parties by registration in the Collateral Registry, shall have priority with respect to the crops claimed by a person with an interest in the immovable property. (5) The knowledge of the existence of a security interest on the part of a lender shall not affect its priority under the Act or these Regulations. (6) The priority of a security interest shall extend to all movable assets covered by a registered security interest, irrespective of when they are acquired by the borrower or come into existence before or after the time of registration.