Literary Devices and Figures of Speech

What does beneficially owned mean?

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Answered 2009-10-06 21:41:54
AnswerWhen 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 this shareholder or are held in trust by this person for the benefit of another party. If the shares are not held in trust, the shares are beneficially owned by the shareholder. If the shares are held in trust for another party, the shares are not beneficially owned by the shareholder. Occasionally shares may be held in trust and change back to being beneficially owned, or alternatively, may originally be beneficially owned and change to being held in trust. If a change to this beneficial owner status takes place, this must be notified to ASIC on the Form 484 within 28 days of the change.
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