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Shares

One of ASIC’s requirements, upon a new company’s registration, is they must keep a record of all the shares  issued. This record is sometimes called ‘the register’ or the ‘share register’.

The register must have information about the company’s members (or shareholders) and the number and class of shares in the company. The register must contain the following information about each member:

their name and address

the date their name was added to the register, and

the class & number of shares held by each member.

The register must also show if the member has any shares that are not beneficially held. Beneficially held means that the owner of the shares gets the direct benefit from the shares. For example, benefits could include dividend payments.  Shares held by a person as trustee, nominee or on account of another person are non-beneficially held (i.e. the member holds the share for the benefit of someone else). If the holder of the shares is a trustee or executor, the shares should show as not being beneficially held. This requirement does not apply to a listed company.

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