Declaration of beneficial ownership required where registered holders lack beneficial interest, trustees must identify beneficiaries and comply. A statutory provision obliges persons shown in a company's register as share holders but lacking the beneficial interest to declare and identify the true beneficial owners. Where trustees hold legal title and appear in the register, they must make that declaration and specify the beneficiaries; the obligation applies irrespective of the particular constructive trust characterization, and failure to comply attracts the statute's consequences.