Change of Beneficial Ownership

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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).

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, 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 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:

  • 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
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