Can an individual own shares on behalf of another individual?
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.