On 11 July 2013, Belgium adopted new legislation on the creation and enforcement of security interests in moveable assets (the "Act"). The purpose of the Act is to significantly reform and modernise security interests in movable assets. Initially, the Act was scheduled to enter into force on 1 December 2014, at the latest. However, due to delays in the establishment of the national electronic pledge register, Parliament has decided to postpone the entry into force of the Act until 1 January 2017, at the latest.