Changes to the class of shares or changes to member’s holdings must be recorded in the ASIC register. All companies need to advise ASIC when they issue or cancel shares and when they make changes to their share structure. These changes can be the result of the company issuing more shares, a person acquiring shares from another member, another member ceasing to hold a portion or all of their shares, or any combination of these.
The shares register must detail information about shares including:
- the date of every allotment (or issue) of shares
- the number of shares in each allotment
- the class (or classes) of shares
- the share numbers (if any), or share certificate numbers (if any), of the shares
- whether or not the shares are fully paid (including the amount paid on the shares and the amount unpaid on the shares, if any)