(1) A registration with respect to a security interest that describes particular collateral, in relation to a secured party, is effective with respect to that collateral from the registration time for the description of the collateral until the earliest of the following times:
(a) the end time (if any) registered for the collateral;
(b) if the registration is amended to omit the collateral description--the amendment time;
(c) the time when the description of the collateral in the registration stops being available for search in the register (by reference to that time) in respect of the secured party.
Note: For the registration time for collateral, see section 160.
(2) This section is subject to sections 164, 165 and 166 (defects in registration).