Which of the following is not true about a floating charge?

a. A floating charge floats over the assets allowing the company to dispose of them in

the normal course of business and replace them with assets of the same class

b. A floating charge document may provide crystallization on the happening of some

specified event

c. On crystallization the floating charge becomes a fixed charge over the assets at that

time

d. A floating charge created by a company does not have to be registered with the ASIC