@Samantha Jade welcome to ASF
Short answer is that you have legal ownership of the shares traded with Commsec when you register your shares ( done by commsec ) and you receive a Holder Identification Number (HIN)
More information in the link if you want to know the nitty gritty
https://www.asx.com.au/documents/resources/chess-brochure-march-2016.pdf
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