When will I get visual indication?
What is it?
- The company’s share summary is validated against ASIC’s records
- The Members Holding Balances table hosts a discrepancy notification feature
- It will compare the share details stored in NowInfinity against the latest ASIC data download (RA72) for that company
- The system will compare and identify any discrepancies, and return a notification within the Members Holding Balances table that the share details do not match with ASIC
Member Holding Balances (Collapsed)
The red dots and exclamation symbols indicate that the share balance is not matching with ASIC.
Member Holding Balances (Expanded)
When expanded the red exclamation symbols indicate the share balance is not matching with ASIC and provides a date and timestamp when the shares were last checked with ASIC.
The red dot indicates the share balance is not matching with ASIC. Once expanded the red dot will appear next to two share amounts.
Black text: shares recorded in NowInfinity
Red text: shares recorded in ASIC
When will I get a visual indication?
- The company’s share summary will be validated with ASIC’s records
- The system will regularly request the latest company data (RA71) and then compare the share summary stored in NowInfinity with ASIC’s data download (RA72)
- Manual requests for the latest company data (company refresh) can also be made to get an up-to-date check on the company’s share summary
Example share discrepancy scenarios:
- An ASIC form is lodged within NowInfinity to request changes to the share detail, and ASIC has not yet approved the changes
- Transaction records are manually added i.e. no ASIC form is lodged, that updates the share balances
- Changes to the share details are made externally
How to reconcile balances?
Depending on the source of the discrepancy, you can:
- Lodge an ASIC form to update the share details
- Use the add, update or edit functionality to reconcile a share balance:
a. Add a share transaction record to cover any missing share allocations
b. Update existing share transactions records to reflect any progression in shares held, such as a share consolidation and share sub-divisions
c. Edit a share transaction record to modify any share details that may be incorrect
Note: the add, update, and edit functionality does not lodge ASIC forms