Details
Shares are transferred (e.g. sold) from one member to another or new member. A Form 484 is required to notify ASIC of this change within 28 days of the transfer.
When is a Share Transfer Required?
A share transfer is required whenever there is a change in the legal owner of the shares.
This includes situations where:
- Shares are transferred between individuals or entities
- Shares are transferred into or out of a trust
- The trustee of a trust changes
Trustee Changes and Share Transfers
If shares are held by a trust and the trustee changes, you must process a share transfer.
Even though the trust itself remains the same, ASIC treats a change of trustee as a change in the legal owner of the shares. As a result, a share transfer is required
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders |
Click Add Transaction +
Select Share Transfers
Instructions
CAS 360 will display the Share Transfers screen.
| Field | Explanation |
|---|---|
Transaction Date |
Input the date of the transfer |
| Transfer From | In the Transfer From Field, CAS 360 will display a list of the company's current shareholders |
| Beneficial Owner | CAS 360 will automatically prefil this field if there is a beneficial owner. |
Transfer To |
Begin typing the new shareholder's name. CAS 360 will begin searching the Global Contact screen for the person. If the Contact has not been previously added to the Global Contact screen, their name will appear. Click + Add New to add a new contact. |
| Beneficial Owner | Click the toggle to add a beneficial owner from the contact screen if one applies. See beneficial owners for more information |
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 Shares transferred |
| Consideration Paid Per Share | Input the amount paid for the transfer of the shares |
Number Of Shares |
Input the Shares allotted |
Meeting Status |
Select the meeting status of the member which will appear on the Resolutions. |
| Notes | Notes can be added in the box displayed. Notes will not feature on the register of members. |
Click Save
Consideration is different between the new and original shareholder
As ASIC is only concerned about the original value that the share was issued at (and not the consideration paid), the value on the forms will always reflect the original value it was first issued at.
For more information, please refer to the following help article:
Why is consideration of a share transfer not filled onto Form 484
CAS 360 does support including the consideration paid in the share certificate. To display the consideration paid on the share certificate, select the appropriate option from the 'Options' menu next to the 'Share Certificate' on the 'Document Production' screen.
Why is Section C3 printing on Form 484 for a share transfer when it is not mandatory
Whilst Section C3 does not need to be filled in for a manual lodgement of a share transfer, ASIC has informed us that when the form is submitted to ASIC electronically, it is a mandatory requirement to include the total number of shares for the company.
For more information, please refer to the following help article:
Section C3 is printing on Form 484 for a share transfer when it is not mandatory
Therefore, we have included the share details in section C3 to display the total number of shares for the electronic file, or the lodgement will be rejected by ASIC.
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Registers – Members
- Directors Meeting Minute or Resolution
- ASIC Form - Change to Company Details Form 484 Section C
- Allotment Journal (optional)
- Share Certificates
- Transfer Journal
- Share Transfer Form
- Notices of Beneficial Ownership (only if a Beneficial owner was selected)
- Declaration of Trust (only if a Beneficial owner was selected)
- Members Meeting Minute
- Members Consent
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.
Printing Share Certificates after Share Transfer
If a share certificate has not been generated correctly after processing a share transfer, you can update the certificate settings:
- From the Shareholders screen, locate the transfer
- Click Options > Edit next to the transfer
- Scroll down to Certificate Details and expand the section
- Change the certificate for the transferor from None to Balance
- Press Save
This will allow the appropriate balance share certificate to be generated for the transferor.