If a company with share capital issues shares, they must keep a record of all the shares they’ve 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 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 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.
Any changes to a member’s personal details and/or their holdings must be recorded in the register.
The register must have information about shares including:
the date of every allotment (or issue) of shares
the number of shares in each allotment
the class (or classes) of shares
the share numbers (if any), or share certificate numbers (if any), of the shares
whether the shares are fully paid (including the amount paid on the shares and the amount unpaid on the shares, if relevant).
Information about shares
All companies need to tell ASIC:
when they issue or cancel shares and
when they make changes to their share structure.
The transactions you need to complete are outlined below.
Issues of shares
When any company issues shares they must tell ASIC within 28 days after the issue by lodging a Change to company details. This form asks for information about the:
number of shares issued
class to which each share belongs
amount (if any) paid, or agreed to be paid, on each of the shares
amount unpaid (if any) on each of the shares.
A company can issue different classes of shares. The rights and restrictions attached to shares in a class distinguish it from other classes. A company can use standard class titles such as ordinary, A class or B class shares etc. or choose their own title for each class of share.