When a legal entity owns shares for its own benefit, this is called a ‘beneficial holding’.
A ‘non-beneficial holding’ is when another legal entity holds shares on another’s behalf.
For example:
| Beneficial holding | Non-beneficial holding |
| A child under the age of 18 | A parent or guardian |
| A trust | The trustee |
| A superannuation fund | The trustee |
| A partnership | All partners or the managing partner |