NOMINEE SHAREHOLDING
\nˈɒmɪnˌiː ʃˈe͡əhə͡ʊldɪŋ], \nˈɒmɪnˌiː ʃˈeəhəʊldɪŋ], \n_ˈɒ_m_ɪ_n_ˌiː ʃ_ˈeə_h_əʊ_l_d_ɪ_ŋ]\
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Stocks that are purchased under the name of the nominee, who acts as holder for the actual owner. An individual with over five percent stake in a publicly listed company is expected to disclose his or her identity. However, under nominee shareholding, this does not apply and as such the tax liability and reporting requirement are unchanged for the actual owner.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).