PDSnet Glossary

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Definition

A person or company nominated to perform some function on behalf of a principal. In the share market, the nominee typically registers shares in its name on behalf of the principal. Usually the nominee is a private company - and this makes it difficult to discover who actually owns the shares. However, since the introduction of section 140A into the Companies Act, all nominees are obliged to advise all listed companies of the beneficial owners of the shares that they have registered in their name as nominees, at the end of each calendar quarter.

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