Change to Beneficial Ownership

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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 do not go to the shareholder but are passed on to another party).

Beneficially Held? Who gets the benefits of the shares (e.g. dividends)?
Yes Shareholder
No

Not the Shareholder - the other party on behalf of which the shares are being held, e.g. trust

If a change to the beneficial owner status takes place, the changes must be recorded on your own share register and included in your next company annual return. 

Navigation


 

From the Main Toolbar, go to Company.

Select the Company from the list.

Select Shareholders

 

Click 

Select Change to Beneficial Ownership

Instructions


CAS 360 will display the Change to Beneficial Ownership screen.

Field Explanation
Transaction Date
Input the Date of Change to Beneficial Ownership.
Shareholder

In the shareholder field, CAS 360 will display a list of the company's current shareholders.

Beneficial Owner CAS 360 will automatically prefill this field if there is a beneficial owner.
New Beneficial Owner

Begin typing the new shareholder's name. CAS 360 will begin searching the Global Contacts screen for the person. If the Contact has not been previously added to the Global Contact screen, will appear.

Click  to add a new contact. Leave this field blank if the shares are now beneficially held by the shareholder.

Share Type
In the Share type field, CAS 360 will display a list of the share types the shareholder holds.
Number Of Shares
Input the number of shares changing beneficial ownership.
Meeting Status
Select the meeting status of the member which will appear on the Resolutions.
                                                      2. Certificate Details - Transferor 
          Field                                       Explanation
Certificate Type  Select the Certificate type. Options range from Balance or None. 
Certificate Number  Type the Certificate Number for the Shares, This will feature on the Allotment Journal, Share Certificate, Notice of Beneficial Ownership (if applicable) and the Declaration of Trust. 
Certificate Location Type the location of the Certificate. 
Unique Numbers Type a Unique Number to assign to the shares. 
                                                      Certificate Details - Transferee  
          Field                                       Explanation
Certificate Type  Select the Certificate type. Options range from Transaction, Balance or None. 
Certificate Number  Type the Certificate Number for the Shares, This will feature on the Allotment Journal, Share Certificate, Notice of Beneficial Ownership (if applicable) and the Declaration of Trust. 
Certificate Location Type the location of the Certificate. 
Unique Numbers Type a Unique Number to assign to the shares. 

 

Click 

The Change of Beneficial Owner transaction will now appear in the Shareholders screen. Hover the mouse over the b.pngicon to display the name of the Beneficial Owner, as well as their Address, Email, Mobile, TFN, ABN and Place of Birth as seen below. 

11.png

Forms Prepared


In the Document Production screen, CAS 360 will automatically select the documents required:

  • Cover Letter
  • Company Change Summary
  • Register of Members
  • Allotment Journal
  • Directors Minutes or Resolution
  • Notice of Members Meeting
  • Members Minute or Resolution
  • Member Consent
  • Share Certificate
  • Notice of Beneficial Ownership
  • Declaration of Trust
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