On most minibikes, the jackshaft side that drives the rear wheel sprocket doesn't need a locking collar for it's bearing...the sprocket is usually placed against the bearing, holding it in the hanger. The one pictured has a washer between the sprocket and bearing to correct the alignment.
The locking collar is included in the kit to be used on the driven sprocket side...the clutch position on most engines sticks out away from the frame, and the bearing on this side may come out of the hanger if not collared or sleeved.
I personally use sleeves instead of collars so I can grease the jackshaft inside the sleeve, and it's protected from corrosion and can be disassembled much easier in the future. I also sleeve the entire jackshaft to prevent any side-to-side movement of the sprockets and bearings.
It's important to note that the bearings are inserted into the hangers from opposite sides...they go into the hangers from the outside, so they are being held into the hangers by the sprockets or sleeves/collars, and not pushed out of the hangers.
It's also important to use a threadlock compound on the sprocket setscrews...I use a 'temporary' strength compound so I can disassemble the setup later if necessary...they also offer 'permanent' strength, but jackshafts usually require maintenance...the sprockets and bearings wear, and require replacement.
The setscrews are prone to loosening from vibration and centrifugal force...if the sprockets become loose enough to move outwards on the jackshaft, it is possible for the engine crankshaft to snap completely off. The tensile strength of the steel jackshaft is much greater than that of the cast iron crankshaft, so the breakage usually occurs at the engine.
I trim my jackshafts to length after I've aligned the sprockets, removing excess weight. I also centerbore and tap both ends of the jackshaft and install sprocket retaining screws...also with threadlock compound, along with a retaining washer and a lock washer.
This is the same setup as used on the crankshaft to retain the clutch. If anyone would like me to modify their jackshaft to this type of setup, I'll do it for free...it's important that a lathe is used to drill the shaft, to ensure the bore is perfectly centered and straight into the shaft. I'll even install stainless steel retaining hardware before I mail it back to you, to save you a trip to the hardware store.