It only applies if you're a trustee holding shares for the benefit of a trust beneficiary. If that's not your situation, the answer is simply No.
Separately, on your ASIC extract, this is reflected as "Beneficially Held: Yes/No":
Beneficially Held: Yes: the shares are held for the director/shareholder themselves (not for a third party)
Beneficially Held: No: the shares are held within a trust, or for a third party
If the shares are yours
Not holding them on behalf of a third party? Select No on the form. This will show as Beneficially Held: Yes on your ASIC extract.
If you're holding the shares on trust for someone else
If you're a trustee holding shares on behalf of a trust, individual, or organisation, select Yes on the form. This will show as Beneficially Held: No on your ASIC extract.
Make sure you enter the full, correct name of the beneficiary (e.g. "ABC Beneficiary Pty Ltd"), as this is the name that will appear on your Company Share Certificates.
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