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Change of Beneficial Ownership

Overview

Beneficial Ownership is whether the shares are owned by the shareholder (where the benefits of the shares go to the shareholder) or are held by the shareholder on behalf of a trust or another party (where the benefits of the shares do not go to the shareholder but are passed on to another party).

Beneficially Held?

Who gets the benefits of the shares (e.g. dividends)?

Yes

Shareholder

No

Not the Shareholder - the other party on behalf of which the shares are being held, e.g., trust

If a change to the beneficial owner takes place, the changes must be recorded on your own share register and included in your next company annual return. 

Navigation

From the Main Toolbar, go to Company

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Select the Company from the list

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Select Shareholders

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Click mceclip3.png

Select Change to Beneficial Ownership

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Instructions

CAS 360 will display the Change to Beneficial Ownership screen

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Field

Explanation

Transaction Date

Input the date of change to beneficial ownership

Shareholder

CAS 360 will display a list of the company's current shareholders

Beneficial Owner

CAS 360 will automatically prefill this field if there is a beneficial owner.

New Beneficial Owner

Begin typing the shareholder’s name. CAS 360 will search the Global Contacts screen for the person. If the contact has not been previously saved to the database, selectmceclip12.pngto create the contact.

Share Type

CAS 360 will display a list of the share types the shareholder holds

Number of Shares

Input the number of shares changing beneficial ownership

Amount of Issued Share Capital

Enter the amount payable for issued share capital in decimals.

Amount of Paid up Share capital

Enter the amount of paid up share capital in decimals. 

For changes to partly paid shares, click here. 

Meeting Status

Select the meeting status of the member which will display on the Members Minutes

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Field

Explanation (Transferor & Transferee)

Certificate Type

Select the Certificate Type

Certificate Number

CAS 360 will automatically pre-fill a number based on previous shareholder transactions.

Certificate Location

Enter the location of the Certificate

Unique Numbers

Type a Unique Number to assign to the shares

Click mceclip7.png

The Change of Beneficial Owner transaction will now appear in the Shareholders screen. Hover the mouse over the mceclip8.png icon to display the name of the Beneficial Owner, as well as their Address, Email, Mobile, Place of Birth and other details.

To edit any of these details, select:

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Forms Prepared

By selecting Prepare Forms mceclip10.png CAS 360 will display the Document Production screen and automatically select the documents required:

  • Cover Letter
  • Register of Members
  • Members Minutes or Resolution
  • Company Change Summary
  • Share Certificate
  • Notice of EGM
  • Allotment Journal
  • Members Consent to Short Notice
  • Directors Minutes or Resolution
  • Declaration of Trust
  • Notice of Beneficial Ownership

Select the mceclip11.png icon to change any of the document settings. Different options will appear depending on the document type.

 

 

 

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