Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Julian Dight
Contact via BUSL251@mq.edu.au
By appointment
Unit Teaching Assistant
Cissy Zhan
Contact via BUSL251@mq.edu.au
E4A350A
Convenor
Michael Quilter
Contact via BUSL251@mq.edu.au
E4A309
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
12cp at 100 level or above
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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 introduces students to the Australian legal system, including contract law, and focuses on corporate law and regulation. The relationship between the law and the role of accounting and business professionals is an underlying theme and students are encouraged to develop critical thinking skills as they analyse and evaluate legal issues in a commercial context. The unit will provide students with perspectives on a range of commercially important legal issues such as forming a business, management responsibilities, investor/shareholder protection, and insolvency. Topics include contract law, agency, partnerships, characteristics of companies, director's duties, rights of shareholders, voluntary administration, and liquidation. The unit develops graduate capabilities associated with discipline specific knowledge, critical thinking and communication skills.
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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:
Expected Workload - Activities | Hours |
Weekly Lectures/Tutorials | 36 |
Assessment Task 1 (Assessed Coursework) | 36 |
Assessment Task 2 (Media Reflection Assignment) | 16 |
Assessment Task 3 (final examination + preparation) | 42 |
Reading required material/self-study | 20 |
TOTAL | 150 |
Name | Weighting | Hurdle | Due |
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Assessed Coursework | 20% | No | Ongoing |
Media Reflection Assignment | 20% | No | Wednesday 10/1/2018 |
Final Examination | 60% | No | University Examination Period |
Due: Ongoing
Weighting: 20%
Assessed coursework involves evidence of preparation for, participation in, and contribution to the tutorial. See Assessment Guide on iLearn for more information.
Other than where a relevant application pursuant to the Special Consideration policy is approved, if a student attends less than 50% of the allotted tutorials the total available mark for assessed coursework will be reduced by 50%.
Due: Wednesday 10/1/2018
Weighting: 20%
This assessment involves a written analysis of a current Australian newspaper/media article. It must be submitted via iLearn/Turnitin by 12pm Wednesday 10/1/2018. A hard-copy of the assignment (plus the relevant newspaper/media article) must also be submitted (handed-in) in your allocated/scheduled tutorial on Wednesday 10/1/2018. See Assessment Guide on iLearn for more information.
No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.
Due: University Examination Period
Weighting: 60%
Examination Conditions: Formal, invigilated examination. You are expected to present yourself for examination at the time and place designated in the University examination timetable. See Assessment Guide on iLearn for more information.
Supplementary Exam:
If a Supplementary Examination is granted as a result of the Special Consideration process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. Please note that the supplementary examination will be of a similar format to the final examination.
Students will undertake lectures and tutorials as set out in the Unit Schedule. The sequencing of the lecture program and the unit content will allow you to develop your understanding of business and corporations law as the unit progresses.There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment and unit structure.
Prizes
Information concerning prizes in this unit can be found on the following web page:
http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships
Required and Recommended Texts
Required: Quilter, Company Law Perspectives, 3rd ed. 2017, Thomson Reuters (Lawbook Co.)
Company Law Perspectives 3rd ed. can be purchased from the Co-op Bookshop, and is available in the Macquarie University library.
After considering the Australian legal framework and aspects of general commercial law the unit will focus on corporate issues and the relevance and effect of the Corporations Act. Note that certain relevant sections of the Corporations Act are set out in Company Law Perspectives 3rd ed. 2017. Statutes may be viewed in full at www.austlii.edu.au
The following is not required but may be useful : Lipton, Herzberg and Welsh, Understanding Company Law, Thomson Reuters (Lawbook Co.)
Useful websites
Lectures may make use of PowerPoint; overhead projectors; visualisers.
Unit material is available on the learning management system (iLearn)
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 gathering information/content - think about what you are required to do with that information/content, what makes for successful performance in your (various) assessments.,how you will use the law you have studied.
There are 2 main components of successful business and corporations law study: one is that students must have some knowledge of the core issues of the relevant topics [take short clear notes in classes, 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 class, your assignment, or in the exam, you have to be able to use the law to communicate, analyse, interpret and explain.
Students should be ready to allocate at least 150 hours during session time for BUSL250. This includes all classes, assessment, personal study and other learning activities.
The Unit is divided into 5 integrated areas. All of these areas are important to an understanding of the commercial and corporate issues that have a relationship to the role and responsibilities of accounting and business professionals.
Legal system and core legal and commercial concepts
Relevance for accounting and business professionals: Exposure to basic rights and commercial responsibilities to inform both personal transactions and professional advice to clients; employment relations; duty of care in delivery of services; objectivity in assessment of performance; basic business organisation.
Lecture 1
Legal framework
Law of tort
Company Law Perspectives, 3rd ed. 2017 [referred to herein as "CLP 3rd"]: Ch.1 and 3
Lecture 2
Contract law
CLP 3rd: Ch. 2
Tutorial 1
Lecture 3
Contract law
Consumer protection
Agency
CLP 3rd: Ch. 2, 4 and 34
Tutorial 2
Business Organisations and the Corporate Framework
Relevance for accounting and business professionals: Informed as to choice of profit-making structure; importance of level of liability; exposure to business failure; understanding key business advice and strategy; entrepreneurial interrelationships; familiarisation with corporate regulator
Lecture 4
Comparison of business organisations
Partnership
Registration of companies – the role of ASIC
Types of companies
Consequences of registration
CLP 3rd: Chs.5, 6, 7, 8 and 24
UCL Ch.2 and 3
Note: Company Law Perspectives 3rd ed. ["CLP 3rd"] is the required text – however if students wish to read further, references to the corresponding chapters in Understanding Company Law [herein “UCL”] are included from Week 4 forward [see the Delivery and Resources section in this Unit Guide].
Tutorial 3
Lecture 5
The nature of Trusts and the role of corporate trustees
The company constitution and the relationship between the company and outsiders – the role of directors as agents and company liability in contract, tort and crime
Financing - Share capital and fundraising; loan capital
Dividends
CLP 3rd: Ch. 9, 10, 11, 13, 14, 15, 16 and 17
[UCL Ch. 4, 5, 7, 8, 10, and 11]
Tutorial 4
Corporate management and governance responsibilities
Relevance for accounting and business professionals: Developing the ability to advise director clients as an accounting or business professional; relevant foundation knowledge for personal future entrepreneurship; importance of financial and ethical obligations and downsides of failure; recognising the relationship between company directors and accounting professionals; becoming alert to problems of financial oversight
Lecture 6
Directors and corporate management
Directors fiduciary duties
Q Ch.18 and 19
[UCL Ch. 12 and 13]
Tutorial 5
Lecture 7
Directors statutory duties
Corporate governance
Financial and reporting obligations
Audit
Q Ch. 20, 21, 22, 23
[UCL Ch.13, 15 and 16]
Tutorial 6
Shareholders and the corporate market
Relevance for accounting and business professionals: Relevance to personal investment decisions; foundation information for providing professional share market advice to clients; awareness of key issues in company meetings; grounding for professional advisory role and introduction to current market issues
Lecture 8
Members rights
Company meetings
Q Ch. 25 and 26
[UCL Ch. 14 and 17]
Tutorial 7
Lecture 9
Takeovers
Financial services and markets – regulation and prohibited conduct
Q Ch. 27 and 28
[UCL Ch. 18 and 19]
Tutorial 8
Insolvency
Relevance for accounting and business professionals: Exposure to key accounting and business issues in insolvency practice and the place of insolvency practitioners in this crucial accounting-driven profession; understanding important signs and warnings of insolvency for both personal and business advisory use; being alert to insolvency options
Lecture 10
The concept of insolvency and the importance of insolvency regulation
Restructuring
Q Ch. 29, 30, 31 and 32
[UCL Ch. 22, 23 and 24]
Tutorial 9
Lecture 11
Liquidation
The role and responsibilities of liquidators
Q Ch.31
[UCL Ch. 25 and 13]
Tutorial 10
Lecture 12
Summary and Revision
Tutorial 11
19/1/18
Tutorial 12
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_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
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/
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The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:
Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html
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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.
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http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
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Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.
This graduate capability is supported by:
We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.
This graduate capability is supported by:
We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.
This graduate capability is supported by:
BUSL251 has undergone curriculum renewal for 2017 - the unit was previously a general business law unit - it is now more corporate focused. There is still an introduction to general business law matters in the first 3 lectures and general business law issues carry through the balance of the unit. However from the 4th lecture forward the unit concentrates on regulation and particularly regulation of companies under the Corporations Act.
This unit addresses global and sustainability issues as direct areas of study and as necessary implications arising from the materials, assessment and academic discussion and debate in classes/seminars. The Department of Accounting and Corporate Governance promotes sustainability by developing the ability in students to research and locate information within the accounting discipline. The Department aims to provide students with an opportunity to obtain skills which will benefit them throughout their career.
The required text for this unit (Company Law Perspectives) is the result of research in relation to the area of company law. The material in the text provides you with a thorough coverage of the relevant issues. Interested students can pursue further research into any of the areas of this unit via the various scholarly journals focusing on company law. Examples of journals that can be consulted to follow up matters of interest are: Australian Journal of Corporate Law; Company and Securities Law Journal.