On 15 December 2016, the Belgian Parliament approved a bill (the "Amending Act") amending the act on in rem security interests in movable assets (the "Security Interests Act"). The Security Interests Act was adopted in July 2013, and its entry into force was originally scheduled for 1 December 2014. However, practical difficulties in setting up a national pledge register led to the postponement of its implementation. Due to further delays, the Belgian legislature decided to postpone implementation for another year, i.e. until 1 January 2018 at the latest. In addition to this postponement, the Amending Act addresses a number of outstanding issues and introduces important changes to the Security Interests Act.
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