Shareholders must notify the company and ASIC whether they are or are not the beneficial owner of their shares in the company.
Sub-section 169(5A) of the Corporations Act 2001 provides:
Non-beneficial ownership--companies other than listed companies
(5A) The register of a company that:
(a) has a share capital; and
(b) is neither a listed company (within the meaning of section 603) nor a company covered by an order under section 707;
must indicate any shares that a member does not hold beneficially.