A surgical device comprising: a handle assembly; a locking collar; and a set of replaceable bits that load into the handle assembly; wherein the locking collar is fully removable from the handle assembly, loads axially to a first position, and rotates between the first position and a second position; wherein, in the first position, the locking collar is free to be removed from the handle assembly and the replaceable bits are free to be loaded or unloaded from the handle assembly; wherein, in the second position, the locking collar is prevented from axial movement relative to the handle assembly and the replaceable bits are prevented from being received within, or removed from, the handle assembly; and the locking collar is guided to the first position and between the first position and the second position by a groove in the handle assembly mating with a member carried by the locking collar.