How to change the beneficial status of shares from Beneficially Owned (BO) to Non Beneficially Owned (NBO)

Question

How can I change the beneficial status of shares from BO to NBO?

Answer

There are 2 ways to change the beneficial status:

  1. Lodge a 484 Transfer of shares form
  2. Lodge a 492 Request for correction form to correct the Beneficial Status in the form when the shares were first issued or transferred

Lodging a 484 Transfer of Shares form

This is used when transferring a current shareholding which is Beneficially Owned (BO) to a NEW shareholding (for the same shareholder) that will be Non Beneficially Owned (NBO).

Example 

  1. Select current shareholder
  2. Enter the number of shares (total number of shares currently held by that shareholder)mceclip0.png
  3. Under the Transferee page select NEW SHAREHOLDERmceclip3.png
  4. Enter all the shareholder's information
  5. For the question "Is the shareholder a Beneficial Owner?" select "Owns Shares on behalf of a Company or a Trust"
  6. Enter the name of the Beneficial Owner of the NBO shares.mceclip2.png
  7. Here is a sample of the completed page. Please continue through the form.

mceclip4.png

 

Lodging a 492 Request for correction form to correct the Beneficial Status specified when the shares were first issued or transferred

In order to complete the details on the 492:

  1. Locate the original share issue / transfer form
  2. Enter the document details        mceclip1.png
  3. In the Amendment Text box type something similar to that shown below:mceclip2.png
  4. Lodge the form with ASIC

Once this form has been lodged with ASIC it can take up to 28 days to process the change before it is reflected within the company profile in NowInfinity.

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