What is the difference between beneficially held and non-beneficially held shares?

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