This question on the Company Registration form refers to who will be the beneficiary (who will benefit/profit) from the shares.
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On the ASIC extract, this information will show as "Beneficially Held: Yes/No"
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If you are the main recipient (not holding for a trust) then select 'shares held on behalf of another trust, individual or organisation: No.
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If you are holding shares on behalf of another trust, individual or organisation, select: Yes.

Ensure you enter the full correct name of the trust/individual or organisation, as that name will appear on the Company Share Certificates

You can find and resume your application here: RESUME

Or can book a time to speak with a company registration expert here