Central registry of security interests links registration to enforcement and secures priority for registered secured creditors. The Amendment Act recognises and defines asset reconstruction companies, debenture trustees and debt securities; authorises a Central Registry integrated with multiple registration systems; makes registration of security interests a public notice and a precondition for enforcement; grants the Reserve Bank audit, inspection and corrective powers over asset reconstruction companies; prescribes priority to registered secured creditors over subsequent interests and government dues (subject to insolvency law); and reforms procedural, penalty, electronic filing, stamp duty and depository provisions to operationalise registration, enforcement and recovery.