Govt. Preparing Draft Bill That Will Integrate Regulatory Frameworks on Movable Asset Guarantees

In an effort to integrate Indonesia’s regulatory frameworks that address movable asset guarantees, the government is currently preparing a Draft Bill on Movable Assets Guarantees (“Draft Bill”).[1] Broadly speaking, the Draft Bill comprises 16 chapters and 54 articles which address various matters relating to movable asset guarantees (jaminan benda bergergak – “JBB”), including: 1) JBB objects (“Objects”); 2) JBB obligors and obligees; 3) Control over Objects; 4) Encumberment of Objects; 5) JBB registrations; 6) Data integration; 7) Amendments and transfers of JBB; 8) JBB removal; 9) JBB deletion; 10) Preferential rights (hak mendahulu); 11) JBB execution; and 12) Criminal provisions.