Section 88 of the Principal Act is amended -

(a) in subsection (1) -

(i) by inserting "or formerly designated" after "designated", and

(ii) by substituting "comprised" for "included",

(b) in subsection (2) -

(i) by inserting "or formerly designated" after "designated",

(ii) by substituting "comprised" for "included", and

(iii) in paragraph (b), by inserting "(but disregarding, for the purposes of this subsection, any claims over those assets arising from mandatory laws in the relevant jurisdictions and any costs associated with administering the security interest and realising assets under the security interest)" after "Part",

(c) in subsection (3) -

(i) by inserting "or formerly designated" after "designated", and

(ii) by substituting "comprised" for "included",

and

(d) by inserting the following after subsection (3):