Details
You must notify the Companies Office of the change in beneficial ownership. Beneficial ownership is whether the shares are owned by the shareholder (so the benefits of the shares go to the shareholder) or are held by the shareholder on behalf of a trust or another party (so the benefits of the shares don't go to the shareholder but are passed on to another party).
| Beneficially Held? | Who gets the benefits of the shares (for example, dividends)? |
|---|---|
Yes |
Shareholder |
No |
Not the shareholder – the other party the shares are held on behalf of (for example, a trust) |
If the beneficial owner status changes, you must record the change on your own share register and include it in your next company annual return.
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders. |
Click Add Transaction +
Select Change to Beneficial Ownership
Instructions
CAS 360 will display the Change to Beneficial Ownership screen.
1. Share Details
| Field | Explanation |
|---|---|
| Transaction Date | Enter the date of the change to beneficial ownership. |
| Shareholder | Select the shareholder. CAS 360 lists the company's current shareholders. |
| Beneficial Owner | CAS 360 automatically fills in this field if there is a beneficial owner. |
| New Beneficial Owner |
Start typing the new beneficial owner's name. CAS 360 searches the Global Contacts screen for the person. If the contact hasn't been added to Global Contacts yet, + Add New Click + Add New |
| Share Type | Select the share type. CAS 360 lists the share types the shareholder holds. |
| Number Of Shares | Enter the number of shares changing beneficial ownership. |
| Meeting Status | Select the shareholder's meeting status. This appears on the resolutions. |
2. Certificate Details
Enter the certificate details for the Transferor and the Transferee.
Transferor
| Field | Explanation |
|---|---|
| Certificate Type | Select the certificate type. Options are Balance or None. |
| Certificate Number | Enter the certificate number for the shares. This appears on the Share Certificate. |
| Certificate Location | Enter the location of the certificate. |
| Unique Numbers | Enter a unique number to assign to the shares. |
Transferee
| Field | Explanation |
|---|---|
| Certificate Type | Select the certificate type. Options are Transaction, Balance or None. |
| Certificate Number | Enter the certificate number for the shares. This appears on the Share Certificate. |
| Certificate Location | Enter the location of the certificate. |
| Unique Numbers | Enter a unique number to assign to the shares. |
Click Save
The Change of Beneficial Owner transaction will now appear in the Shareholders screen. Hover the mouse over the icon to display the name of the beneficial owner, as well as their Address, Email, Mobile, TFN, ABN and Place of Birth as seen below.
Forms Prepared
In the Document Production screen, CAS 360 will automatically select the documents required:
- Cover Letter
- Company Change Summary
- Register of Shareholders
- Allotment Journal
- Issued Journal
- Directors Minutes or Resolution
- Notice of Members Meeting
- Shareholders Minutes or Resolution
- Shareholders Consent
- Share Certificate
- Share Transfer Form
- Notice of Beneficial Ownership
- Declaration of Trust
- Extensive Shareholding List