25%+ Ownership – this is where someone owns more than 25% of the asset, meaning they are a beneficial owner.

Trustee – trustee of the trust. These are the named trustees in a Trust Deed. For example, for a family trust this would typically be the husband and wife, and their lawyer.

Settlor – settlor of the trust; this is the named Settlor in a Trust Deed.

Effective Controller – someone who is in effective control of the asset i.e. Managing Director, who may also be a 25%+ shareholder.

Acting on Behalf – someone who is instructing you on behalf of the owner. This may be a lawyer or power of attorney.

Executor – the executor of the will.