Account Designation

Account Designation

What is an account designation?

Account designations are used:

  • by trusts, deceased estates, minors and unincorporated funds, where the shares cannot be directly held by the beneficial owner, but rather must be registered in the name of a trustee (or parent, in the case of minors); or
  • as a way to distinguish between multiple accounts held in the same name such as “No 1 A/C” and “No 2 A/C”.

Please note: Designations should not give notice of a trust (including any testamentary trust or custodial arrangement), whether express, implied or constructive, on the register (refer to section 1072E(10) of the Corporations Act). Hence the phrases “AS TRUSTEE FOR” or “AS CUSTODIAN FOR”, the words “TRUST” or “TESTAMENTARY”, the abbreviations “ATF”, “ACF” or “TEST”, or other similar contractions, should not be used in any designation. Where used, they will generally be rejected by CHESS. 

Additionally, account designations are limited to 28 characters including spaces.

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