'Account designations' are relevant to trust, Self Managed Superannuation Fund (SMSF), and some company accounts. For these account types, shares must be registered in the name of the trustee(s) with the trust or fund name included in the account designation field.
The account designation is usually shown alongside the registered CHESS name, contained between two chevrons (<>). It will always end with the abbreviation 'A/C', meaning 'Account'.
Please note: When adding an account designation to your application, you do not need to include the chevrons (<>) or A/C abbreviation as these will be added automatically.
For example, Smith Family Pty Ltd as trustee for the Smith Family Trust would be registered as follows:
Registered CHESS Name: Smith Family Pty Ltd
Account Designation: <Smith Family A/C>
Smith Family Pty Ltd as trustee for the Smith Family Superannuation Fund would be registered as follows:
Registered CHESS Name: Smith Family Pty Ltd
Account Designation: <Smith Family Super Fund A/C>
Abbreviations can also be used, as there is a 30 character limit imposed on the account designation field by CHESS. For example, Smith Family Pty Ltd as trustee for the Smith Family Superannuation Fund could use the below abbreviation:
Registered CHESS Name: Smith Family Pty Ltd
Account Designation: <Smith Family SF A/C>
Please note: CHESS rules do not allow the use of the word 'trust' as part of the account designation, be it express, implied or constructive. As such the phrase 'AS TRUSTEE FOR', the word 'TRUST', or the abbreviation 'ATF' and other similar contractions should not be used in any designation.