255. Fluctuating charges
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(1) When a charge, the particulars of which require registration under section 250, is expressed to secure all sums due or to become due or some other fluctuating amount, the particulars required under section 251(1)(c) shall state the maximum sum that is deemed to be secured by the charge, which shall be the maximum covered by the stamp duty paid thereon; and the charge is, subject to subsection (2), void, so far as any security interest is created by the charge, as respects any excess over the stated maximum.
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(2) Where, in respect of a charge on the property of a company of a kind referred to in subsection (1) —
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(a) any additional stamp duty is later paid on the charge; and
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(b) at any time after the additional stamp duty is paid on the charge, but before the commencement of the winding-up of the company, amended particulars of the charge stating the increased maximum sum deemed to be secured by the charge, together with the original instrument by which the charge was created or evidenced, are lodged with the Registrar for registration,
then, as from the date on which it is lodged, the charge, if otherwise valid, is effective to the extent of the increased maximum sum, except as regards any person who, before the date on which the charge was so lodged, had acquired any proprietary rights in, or a fixed or floating charge on, the property that is subject to the charge.