Change Shares To Beneficially Held In Wayne
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“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.
“beneficial owner”, in relation to a foundation. any person who owns or controls (in each case whether directly or indirectly), including through bearer share holdings or by other means, more than 25% of the shares or voting rights in the company or LLP; any person who controls the company or LLP, or.
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.
The Companies Act No. 17 of 2015, Section 93A, requires every company to keep a register of its beneficial owners and submit to the Registrar of Companies a copy of its register and communicate any amendments to the Registrar.
