Section 45

Where a loan is made or guarantee granted by the

Corporation on or in respect of the security of a charge of any movable property under section 37, the property, from and after the date of the charge, shall be charged with the payment of such loan and interest as in the charge mentioned in priority, save so far as otherwise specified in the charge, to every other debt or charge whatsoever affecting the property, except any bill of sale or any other proper charge registered under any written law before that date.