Share / Unit Transactions

CAS 360
#1

Howdy folks,

I’ve just gone to do a unit redemption in CAS360 and when it came time to prepare the documents I was presented with three documents to print: Unitholder register, Trustee minute, and Unit Certificate.

I recalled that in CAS Desktop there were a number of other documents prepared ‘by default’ and marked as ready for printing, including:

  • Allotment/Conversion/Consolidation/Redemption/Return of Capital/Subdivision Journal
  • Unitholder Meeting Minute
  • Transferor / Transferee Directors Meeting Minute / Resolution
  • Redemption Letter

I’ve noticed that a lot of these old standards are missing from CAS360s share/unit transactions and wondered if we would see a return of them as standard options for us to prepare?

I’m also curious to find out that, since they were defaults in CAS Desktop, were they required to be prepared as part of these transactions or did BGL just provide them by default in the event the CAS user firm wasn’t preparing them outside of the software? If they’re required documents as part of these transactions, one would imagine that they should be brought into 360 soon?

Thanks folks.

1 Like
#2

I also just noticed that the “Trustee Minutes or Resolutions” document is only available as a Minute and I don’t have the option to choose Resolution in the Options area.

Considering the trustee company has only one appointed Director, one would think that Resolution would have been selected by default however this is not happening.

I imagine the automatic recognition of whether it needs to be a Minute or Resolution by default depending on sole-Director would work for Shares but not Units, as this seems to have been the case in the past with other issues?

EDIT: Also, numbers of Units are still being parsed with odd formatting, causing initial confusion when reading the value. Eg: 1,467,000 Units would current be generated as 1467000.0000 in all documents.

I imagine it would be much more practical to output the number of Units as a whole number with no decimal places, and having commas in the number would help with legibility, same as with shares.