Bhutan are currently undertaking two sets of reform. Firstly, they are seeking to amend the Moveable and Immovable Property Act 1999. The amendments were adopted by the Council of Ministers in 2016 and will later be submitted to Parliament to be enacted.

Secondly, the Office of the Attorney General’s report in 2016 mentions that the Department for Legal Services in Bhutan has undertaken a drafting of an Insolvency Bill, to replace the Bankruptcy Act with technical assistance from the World Bank.

Moreover, the Royal Monetary Authority established an online register called the Central Registry System for Secured Transactions (CRST) in 2013.

Movable and Immovable Property Act 1999 English:

Central Registry System for Secured Transactions (CRST):

Further Reading:

Last Checked August 2020

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