Change Shares To Beneficially Held In Suffolk
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Where any change occurs in the beneficial interest in such shares, the registered owner and the beneficial owner shall, within a period of 30 days from the date of such change, make a declaration to the company in MGT-4 and MGT-5, respectively in duplicate.
That means that you are now holding the shares as trustee for someone else, but would be changing ownership from that trust to you personally - that other person or trust therefore ceases the beneficial owner. The result would be a CGT disposal from the other person/trust to you at current fair value.
As a shareholder of a public company you may hold shares directly or indirectly: A registered owner or record holder holds shares directly with the company. A beneficial owner holds shares indirectly, through a bank or broker-dealer.
What is a shareholder's beneficial status? 'Beneficially held' means that the owner of the shares gets the direct benefit from the shares. Direct benefits include dividend payments. If the shareholder is not holding the shares on behalf of another person, organisation or trust, the shares are beneficially held.
“Beneficially held” means the shareholder gets the direct benefit of owning the shares. “Non-beneficially” held means that the shareholder is holding the share "as trustee for" or "in trust for" a second entity such as a Trust, a company or another individual.
A trustee holds these for another entity, such as a person or company. This means that they do not hold the shares or benefit from it themselves. This means they won't receive any direct benefits from the shares.
Ing to the United States' Securities Exchange Act, a beneficial owner of a security includes any person who, directly or indirectly, has or shares voting or investment power.
