Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Mark Runnalls
Contact via mark.runnalls@mq.edu.au
Friday 10am to 12pm
John Garrick
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ACCG614 or admission to MAdvProfAcc or MCorpGvnce prior to 2013
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit examines the structure and issues relating to the legal governance regime of a business enterprise, including an in-depth analysis of the risks and governance structures relating to the law of contracts, corporations and insolvency. It offers a significant opportunities for a scholarly understanding of the legal framework and issues that relate to corporate governance.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
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1. Class Test | 20% | Week 4 |
2. Presentation and Report | 30% | In week allocated. |
4. Final Examination | 50% | Friday, 14th November, 2014 |
Due: Week 4
Weighting: 20%
The Class test is assessed as follows:
Submission: In-class test in week 4. Students will complete the test in class, and the unit co-ordinator will collect the papers from students. If you are late, you will not be allowed to resit the test. If you miss the test because of illness you can re-sit upon production of satisfactory medical certificate and approval from the unit co-ordinator via the normal exemption process.
Marking criteria: The test will be 20 questions and marked out of a possible 20 marks, this is a diagnostic test which means it assesses students on progress to date and allows time to address potential challenges in subsequent classes. The questions will be based on the learnings covered during classes week 1-3 inclusive to ensure students have a thorough foundation of understanding.
Extension: No extensions will be granted.
Penalties: None, however if the test is not taken students will forfeit any marks for this assessment task.
Due: In week allocated.
Weighting: 30%
Submission: In-class presentation in week allocated. Students work in groups or individually (depending on numbers) and marks are awarded equally unless there is an objection by students based on one or more students not participating. Case studies are graded based on content and presentation style.
The purpose of this assessment is to allow the students to work on a significant piece of work and communicate their level of understanding of key concepts, theories and issues presented by the case studies during the semester. Each case study requires an oral presentation, approximately 20 minutes, a submitted power point presentation, plus a written report which summarises the key issues raised by the case study. Case study questions and project teams (numbers permitting) will be allocated in week 1 of semester.
Group Presentation component: The breakdown of Presentation and Written task marks are weighted equally for each group member. The Presentation demonstrates the communication and teamwork skills by presenting to an active audience using specially prepared presentation materials and innovative delivery approaches.
Presentation Audience: Each group is to present to the class. Each group will have a maximum ‘overall’ presentation time of 20 minutes. Each group member must speak for a minimum of four minutes. (This is obviously dependent upon the number of students in each group). Fellow students are encouraged to ask questions at the end of each presentation.
Presentation Task: Will be set by the unit convenor in regard to a legal situation and you are asked to provide an assessment of the legal precedents and apply them to the case or question at hand. This task will be a group piece of work and the University’s policy regarding Group Assessment is provided at http://mq.edu.au/policy/docs/assessment/policy.html
Marking Criteria: This assessment task allows the students to display oral and written communication skills to explain the key concepts. 10 (of 30) marks are awarded for the presentation itself, 20 (of 30) marks are awarded for the written report and presentation slides.
Presentation Marking Criteria (10 of 30 marks)
Report Marking Criteria (20 of 30 marks)
Written reports to be no more than 2000 words, powerpoints to be limited to 20 slides.
Extension: No extensions will be granted.
Penalties: Failure to present or submit will result in no marks being awarded for this assessment task.
Due: Friday, 14th November, 2014
Weighting: 50%
Submission: Written hard copy submitted during class in week 13.
A final examination is included as an assessment task to provide assurance that:
1. the product belongs to the student and
2. that the student has attained the knowledge and skills tested in the exam
A final two hour examination for this unit will be held during week 13 i.e. Friday 14th November 2014. All material covered in the course is examinable. It is an open book examination: you may bring unit slides, text books but no handwritten or typed notes into the examination. Further details will be made available via iLearn.
The only exception to not sitting an examination at the designated time is because of documented illness or unavoidable disruption. In such circumstances students may wish to apply under the Disruption to Studies policy.
Further details are available here: http://mq.edu.au/policy/docs/disruption_studies/policy.html
Marking Criteria: The examination represents 50% of the student's overall assessment for this unit. Typically the examination consists of a multiple-choice format in one section followed by more in depth questions in the next section. Questions in the latter section are designed to test student's ability to demonstrate knowledge and understanding of the key topics and issues covered in the unit. Students must pass the final examination in order to achieve a passing grade for the unit. Applications under the Disruption to Studies policy in the final examination can only be applied for by students with a minimum of 45% in the coursework assignments completed up to the application closing date.
Extension: None provided.
Penalties: Students will not receive any marks for this assessment task if they fail to sit the examination. If a Supplementary Examination is granted as a result of the Disruption to Studies process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. Please note that the supplementary exam will be of similar format to the final exam.
Classes:
Classes will progress through the various Lecture Areas referred to in this Unit Guide. There is one seminar each week (time allotted 3 hours). There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment and unit structure.
The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au
Required and Recommended Texts and Materials:
Lipton, Herzberg and Welsh, Understanding Company Law, Thomson Reuters (Lawbook Co.) 17th. ed. 2013.
Quilter, M, Company Law Perspectives 2nd. ed. 2014
Texts can be purchased from the Macquarie University Co-op Bookshop, and are available in the Macquarie University library. The unit will focus on corporate issues and the relevance and effect of the Corporations Act. The Act may be viewed in full at www.austlii.edu.au
Useful websites: www.asic.gov.au www.asx.com.au www.takeovers.gov.au www.smh.com.au www.camac.gov.au www.lipton-herzberg.com.au
By using www resources students are able to gain a perspective on their studies and be aware of real world situations where company law is relevant. Newspaper coverage of company law gives depth and realism to the formal explanations of the law in texts.
Unit Web Page Course materials are available on the learning management system (iLearn). Teaching and Learning Strategy Students should take responsibility for their own learning and this will incorporate reading as required, attendance at classes, developing effective study strategies, reflection on their abilities, and a task oriented approach to assessment – that is, do not think solely about your input (gathering information) think about what will be required, what makes for successful performance in tests and exam, how will you use the law you have studied? There are 2 main components of successful company law study: one is that students must have some knowledge of the core issues of the relevant topics [take short clear notes in lectures, think about your task, involve yourself in classes], the second is that students will only be successful if they can apply what they have learned, that is, in your test, exam or other assessment such as a presentation, you have to be able to use the law to solve problems or to clearly explain issues.
Classes should be used by students to test their understanding of the unit in an environment where immediate feedback is available from the lecturer – students should be prepared to respond to, and ask, questions – being active is an important aspect of both study and professional practice and classes will be of more benefit to all students if they are willing to participate.Students are expected to attend classes. Where any issue arises as to a student’s performance it may be necessary to consider whether they have attended all the classes.
Technology Used and Required: Students must be familiar with iLearn. Students are required to conduct their own research and need to be familiar with Internet search engines.
Where specific materials outside of the text may be relevant students will be directed accordingly:
Week 1 – LEGAL SYSTEM, CORPORATE FRAMEWORK AND CORE PRINCIPLES
Contracts; Agency; Associations; Sole Traders; Partnerships
LHW Ch. Partnership Act: www.austlii.edu.au/au/legis/nsw/consol_act/pa1892154/
Week 2 – DIRECTORS AS AGENTS AND THEIR ROLE IN IDENTIFYING CORPORATE LIABILITY
Evolution of modern company and Australian developments:
LHW Ch.1
Applying for registration and the consequences of incorporation:
LHW Ch.2
Types of Companies:
LHW Ch.3
The company constitution and the replaceable rules:
LHW Ch. 4
Company liability in contract, tort and crime:
LHW Ch. 5
Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/
Week 3 – RELEVANCE OF GOVERNANCE IN RELATION TO CORPORATE FINANCING AND PAYMENT OF DIVIDENDS
Disclosure to Investors – fundraising:
LHW Ch. 7
Share capital:
LHW Ch. 8
Debentures and Loan Capital:
LHW Ch. 11
Dividends:
LHW Ch. 10
Week 4 – DIRECTORS AND GOVERNANCE ISSUES IN RELATION TO PROCEDURE AND MANAGEMENT
L&H Ch. 12
ASIC Investigation:
LHW Ch. 21
Week 5 - DIRECTORS DUTIES and CORPORATE GOVERNANCE [1]
GENERAL LAW (FIDUCIARY) DUTIES
LHW Ch. 13
Week 6 - DIRECTORS DUTIES and CORPORATE GOVERNANCE [2]
STATUTORY DUTIES
LHW Ch. 13
Week 7 – DIRECTORS DUTIES and CORPORATE GOVERNANCE [3]
FINANCIAL AND REPORTING OBLIGATIONS; ASX CORPORATE GOVERNANCE PRINCIPLES
LHW Ch. 13
Financial and Reporting Obligations of Directors:
LHW Ch. 15
Mid session break 20th September to 5th October, 2014
Week 8 – THE ROLE OF DIRECTORS DUTIES AND GOVERNANCE IN RELATION TO MEMBERS RIGHTS
Members Meetings:
LHW Ch.14
Members Rights and the position of the Minority:
LHW Ch.17
Week 9 – GOVERNANCE IN RELATION TO THE WIDER MARKET:
TAKEOVERS; FINANCIAL SERVICES AND MARKETS
Takeovers:
LHW Ch. 18
Financial Services and Markets:
LHW Ch. 19
Week 10 – INSOLVENCY AND GOVERNANCE [1]
CORPORATE RESTRUCTURING
Insolvency
Arrangements and Reconstructions; Receivership; Voluntary Administration
LHW Chs.22, 23, and 24
Week 11 – INSOLVENCY AND GOVERNANCE [2]
LIQUIDATION
Liquidation - Insolvent trading
LHW Ch. 25 (for insolvent trading Ch.13)
Week 12 – THE FUTURE OF GOVERNANCE PRACTICES
OVERVIEW AND REVISION
Week 13 – FINAL EXAMINATION TO BE HELD IN CLASS
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Macquarie University uses the following grades in coursework units of study:
Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:
http://www.mq.edu.au/policy/docs/grading/policy.html
If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
In addition to the course materials and textbook, students are encouraged to consult different sources and search for external reading materials and practical reports. This will enhance their understanding of the unit concepts and support their learning process.