ASIC's Specification
Share structure and member details must be completed when notifying the issue or cancellation of shares
Cause
This is an ASIC Validation generally only occurs when a user is processing a Change of Beneficial Ownership
Form(s) Affected
- Form 484
Suggestion
This is an ASIC Validation where the beneficial ownership status is not actually changing. This is common when contact entered into the beneficial owner field is changing to a different contact. Although the contact is changing, the Beneficial Owner status is not actually changing.
ASIC is only concerned with the beneficial status. As ASIC does not hold any record of the beneficial owner, if this were to change, you are not required to prepare any forms.
It is only when the beneficial status was to change from 'No' to Yes' (or vice versa) then you would be required to notify ASIC.
Please contact ASIC for more information.
Examples:
Change of beneficial ownership status from Yes to No
Change of beneficial ownership status from No to Yes
No change of beneficial ownership status has occurred
