Where a security interest in movable property is effective against a third party, a security interest under section 11 in the proceeds of that property is effective against a third party —
(a) without a further act, if the proceeds of that property are in the form of money, receivables, a negotiable instrument or funds credited to a deposit account;
(b) in a case that is not referred to under paragraph (a) —
(i) for 20 days after the proceeds of that property arise, and
(ii) if, after the time period specified under subparagraph (i), the security interest in the proceeds of that property is made effective against a third party by one of the methods described under this Part.