Question
Can an individual own shares on behalf of another individual?
Answer
Yes, in certain scenarios it is possible, such as parents who hold shares for their children or the executor of a will who owns shares on behalf of an estate.
To select this when issuing/transferring Shares, select "Yes" for "Are the Shares to be owned on behalf of an existing trust?" (Although the field says "trust", this can be any party type (e.g. Individual / Company / Trust / Fund).
Type their name in the "Shares are owned on behalf" field:
Note: The Beneficial Owner of Non-Beneficially held Shares' name is not recorded with ASIC. ASIC only record the beneficial status, and the Non-Beneficial owner's details. This information however is required to be completed within NowInfinity forms.