Change to Beneficial Ownership

Details

When changes to shareholders are notified to ASIC on the Form 484, the question 'beneficially owned?' must be answered. This question is asking 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).

If a change to the beneficial owner status takes place, this must be notified to ASIC on the Form 484 within 28 days of the change.

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.
Notes	Click to add extra notes to appear on the Register of Members.

Click 

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:

• Directors Meeting Minute or Resolution
• ASIC Form - Change to Company Details Form 484 Section C
• Register of Members
• Share Certificate
• Members Meeting Minute 
• Members Consent

• Share Transfer form

Note: ASIC does not keep detailed information for the beneficial owner, but only the beneficial ownership status.

CAS 360 allows you to prepare documents and then notify ASIC through electronic lodgement via the Documents Screen. For more information on how to do so, click here.