Coronavirus (COVID-19) Update
Due to the Coronavirus (COVID-19) pandemic, any references to assessment tasks and on-campus delivery may no longer be up-to-date on this page.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Unit convenor and teaching staff |
Unit convenor and teaching staff
Convenor
Michael Quilter
4ER309
By appointment
Lecturer
Zaman Khorseduzzaman
4ER212
By appointment
Lecturer
Kay-Wah Chan
4ER332
By appointment
Teaching Assistant
Claudia Chau
4ER320B
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
Admission to MAccg or MAccLead or MProfAcc or MProfAccgLead
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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, relevant commercial legal principles, and corporate law and regulation. At the beginning of the unit students will identify core aspects of rights and liabilities, and the characteristics of business organisations generally. Thereafter, the unit focuses on Australian company law. Students develop an understanding of the nature and function of a company and will analyse important issues concerning the duties of directors, shareholder rights, takeovers and share market regulation, and corporate insolvency. Classes will include consideration of relevant legal issues, case law, and important sections of the Corporations Act. Completing this unit will equip students with relevant insights into the regulation of the commercial environment and the ability to critically assess and appraise the rights and obligations arising in the formation, management and functioning of a company. |
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:
Coronavirus (COVID-19) Update
Assessment details are no longer provided here as a result of changes due to the Coronavirus (COVID-19) pandemic.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Coronavirus (COVID-19) Update
Any references to on-campus delivery below may no longer be relevant due to COVID-19.
Please check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
Classes will progress through the various Lecture Areas referred to in this Unit Guide. There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment, holiday scheduling, unit structure or class management. Note that together with the designated practice questions, the classes may cover other issues relevant to the unit.
The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
Students must remain in their allocated classes.
Required Text: Quilter, Company Law Perspectives, 4th ed. 2020, Thomson Reuters (Lawbook Co.) - note that students may take the hard copy required text CLP 4th ed. 2020 (not the electronic version) into the final examination.
CLP 4th ed will be available in the Macquarie University library. It can be can be purchased from the Macquarie University Co-op Bookshop and directly from the publishers Thomson Reuters via their website https://legal.thomsonreuters.com.au/student/university/macquarie/
The following is recommended for further reading: Lipton, Herzberg and Welsh, Understanding Company Law, Thomson Reuters (Lawbook Co.).
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 4th ed. 2020. Statutes may be viewed in full at www.austlii.edu.au
Useful websites
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 the text.
Unit material is available on the learning management system (iLearn)
This unit is taught by way of seminars. Practice questions are discussed to enable application of content.
Students should take responsibility for their own learning and this will incorporate reading as required, attendance at seminars, developing effective study strategies, reflection on their abilities, and a task oriented approach to assessment – that is, do not think solely about gathering information - think about what will be required - what makes for successful performance in tests, assignments, presentations and exams - how you will use the law you have studied. There are 2 main components of successful commercial and company 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 your test, assignment, presentation or exam, you have to be able to use the law to solve problems, communicate, analyse and explain.
Students should be ready to allocate at least 150 hours during session (in total) to ACCG6014. This includes all classes, assessment (estimates for assessment allocation are set out above under “Assessment Tasks”), personal study and other learning activities.
Coronavirus (COVID-19) Update
The unit schedule/topics and any references to on-campus delivery below may no longer be relevant due to COVID-19. Please consult iLearn for latest details, and check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
Lecture Areas The required text for the unit is Company Law Perspectives 4th ed. 2020 - published by Thomson Reuters [referred to herein as CLP 4th ed. 2020] |
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1 LEGAL FRAMEWORK AND LEGAL SYSTEM LAW OF TORT CLP 4th ed. 2020 - Ch. 1 and 3 |
2 CONTRACT LAW CLP 4th ed. 2020 - Ch. 2 |
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3 CONTRACT LAW CONSUMER PROTECTION AGENCY CLP 4th ed. 2020 - Ch.2, Ch. 34, Ch.4 |
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4 COMPARISON OF BUSINESS ORGANISATIONS Associations; Sole Traders; Partnerships CLP 4th ed. 2020 - Ch. 5 Note: As indicated, CLP 4th ed. 2020 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]. Where chapter numbers between the current and older editions of UCL are different this has been noted. Partnership Act: www.austlii.edu.au/au/legis/nsw/consol_act/pa1892154/ CORPORATE HISTORY AND LEGISLATIVE FRAMEWORK Evolution of modern company and Australian developments: CLP 4th ed. 2020 - Ch. 6; UCL Ch.1 |
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5 REGISTRATION AND TYPES OF COMPANIES Applying for registration and the consequences of incorporation: CLP 4th ed. 2020 - Ch.8; UCL Ch.2 Types of Companies: CLP 4th ed. 2020 - Ch. 7; UCL Ch.3 Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/ THE COMPANY CONSTITUTION AND THE RELATIONSHIP BETWEEN THE COMPANY AND OUTSIDERS The company constitution and the replaceable rules: CLP 4th ed. 2020 - Ch. 9; UCL Ch 4 Company liability in contract, tort and crime: CLP 4th ed. 2020 - Ch. 10 and 11; UCL Ch 5 |
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6 CORPORATE FINANCING and DIVIDENDS Disclosure to Investors – fundraising: CLP 4th ed. 2020 - Ch. 14; UCL Ch 7 Share capital: CLP 4th ed. 2020 - Ch. 15; UCL Ch 8 Membership: CLP 4th ed. 2020 - Ch. 13; UCL Ch 9 Debentures and Loan Capital: CLP 4th ed. 2020 - Ch. 17; UCL Ch 11 Dividends: CLP 4th ed. 2020 - Ch. 16; UCL Ch 10 |
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7 DIRECTORS and MANAGEMENT CLP 4th ed. 2020 - Ch. 18; UCL 20th ed Ch 12 to 20; older eds Ch 12 |
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8 DIRECTORS DUTIES and CORPORATE GOVERNANCE CLP 4th ed. 2020 - Ch. 19, 20 and 21; UCL 20th ed Ch 12 to 20; older eds Ch 13 |
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9 DIRECTORS DUTIES (cont.); FINANCIAL and REPORTING OBLIGATIONS; AUDIT Duties of directors and other officers (continued): CLP 4th ed. 2020 - Ch. 19, 20 and 21; UCL 20th ed Ch 12 to 20; older eds Ch 13 Financial and Reporting Obligations of Directors: CLP 4th ed. 2020 - Ch. 22; UCL 20th ed Ch 22; older eds Ch. 15 The Role of Auditors and Issues of Audit Liability: CLP 4th ed. 2020 - Ch. 23; UCL 20th ed Ch 23; older eds Ch. 16 ASIC Investigation: CLP 4th ed. 2020 - Ch. 24; UCL 20th ed Ch 28; older eds Ch 21 |
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10 MEETINGS AND MEMBERS RIGHTS Members Meetings: CLP 4th ed. 2020 - Ch. 26; UCL 20th ed Ch 21; older eds Ch.14 Members Rights and the position of the Minority: CLP 4th ed. 2020 - Ch. 25; UCL 20th ed Ch 24; older eds Ch. 17 |
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11 TAKEOVERS; FINANCIAL SERVICES AND MARKETS Takeovers: CLP 4th ed. 2020 - Ch. 27; UCL 20th ed Ch 25; older eds Ch. 18 Financial Services and Markets: CLP 4th ed. 2020 - Ch. 28; UCL 20th ed Ch 26; older eds Ch 19 |
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12 INSOLVENCY and RESTRUCTURING Insolvency Arrangements and Reconstructions; Receivership; Voluntary Administration CLP 4th ed. 2020 - Ch. 29, 30, 31 and 32; UCL 20th ed Ch 29. 30 and 31; older eds Ch 22, 23, and 24 |
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13 LIQUIDATION Liquidation - Insolvent trading CLP 4th ed. 2020 - Ch. 33; UCL 20th ed Ch 32 and 18; older eds Ch 25 and Ch 13 |
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