Draft Bill on Security Rights over Movable Property to Be Included in the Priority National Legislation Program

The government has proposed the Draft Bill on Security Rights over Movable Property (“ Draft Bill on Security Rights over Movable Property ”) to be included in the 2025 Priority National Legislation Program (Prolegnas). This regulation will govern the pledge of shares.

“We must have clear regulations on the pledge of shares. This must be governed within the law on security rights over movable property,” said the Minister of Law, Supratman Andi Agtas.

He noted that the pledge of shares has encountered numerous legal issues, such as the sale of closely held companies that have already been pledged.

“Therefore, it is important that the Law on Security Rights over Movable Property covers this matter. This differs from public companies, which are already regulated by separate legislation,” said Supratman.