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Literary Devices and Figures of Speech

What does beneficially owned mean?

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2009-10-06 21:41:54

Answer

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 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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