ACCG6014 – Business and Company Law

2021 – Session 1, Special circumstances

Notice

As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.

To check the availability of face-to-face and online activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.

General Information

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Unit convenor and teaching staff	Unit convenor and teaching staff Kay-Wah Chan kay.chan@mq.edu.au Contact via Email 4ER - 332 As specified on iLearn Teaching Assistant Claudia Chau ACCG6014@mq.edu.au Contact via ACCG6014@mq.edu.au Moderator Zaman Khorseduzzaman khorsed.zaman@mq.edu.au Contact via Email 4ER - 212
Credit points	Credit points 10
Prerequisites	Prerequisites Admission to MAccg or MAccLead or MProfAcc or MProfAccgLead
Corequisites	Corequisites
Co-badged status	Co-badged status
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.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://students.mq.edu.au/important-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

ULO1: Describe the nature of the Australian commercial legal environment and recognise and evaluate the principles of the law of contract and tort
ULO2: Identify and evaluate corporate characteristics including articulating and critically analysing the role and obligations of directors
ULO3: Appraise and evaluate how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
ULO4: Compare corporate mechanisms for dealing with insolvency and critically assess the nature of corporate insolvency in the current regulatory environment.
ULO5: Produce and deliver written and oral material suitable for the purposes of engaging and informing an academic audience

Assessment Tasks

Name	Weighting	Hurdle	Due
Online Quiz	20%	No	(Unless otherwise announced on iLearn) on 29/3/2021 (Week 6)
Assignment	30%	No	(Unless otherwise announced on iLearn) by 17/5/2021
Online Final Exam	50%	No	Formal Examination Period

Online Quiz

Assessment Type ¹: Quiz/Test
Indicative Time on Task ²: 15 hours
Due: (Unless otherwise announced on iLearn) on 29/3/2021 (Week 6)
Weighting: 20%

The online quiz will be held in the first half of the session. The duration and details of the quiz will be advised in the week prior to the quiz. The quiz may be either multiple-choice questions, true/false questions, short answer style questions, or a combination thereof.

On successful completion you will be able to:

Describe the nature of the Australian commercial legal environment and recognise and evaluate the principles of the law of contract and tort
Identify and evaluate corporate characteristics including articulating and critically analysing the role and obligations of directors

Assignment

Assessment Type ¹: Essay
Indicative Time on Task ²: 28 hours
Due: (Unless otherwise announced on iLearn) by 17/5/2021
Weighting: 30%

Students will be assigned a topic/question and be required to submit a written response. Maximum length 1,200 words excluding references. The submission must be clear and concise, make reference to relevant law, show evidence of research and address the issues central to the topic/task.

On successful completion you will be able to:

Describe the nature of the Australian commercial legal environment and recognise and evaluate the principles of the law of contract and tort
Identify and evaluate corporate characteristics including articulating and critically analysing the role and obligations of directors
Appraise and evaluate how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
Compare corporate mechanisms for dealing with insolvency and critically assess the nature of corporate insolvency in the current regulatory environment.
Produce and deliver written and oral material suitable for the purposes of engaging and informing an academic audience

Online Final Exam

Assessment Type ¹: Examination
Indicative Time on Task ²: 40 hours
Due: Formal Examination Period
Weighting: 50%

A two-hour open book exam will be held during the University Examination Period.

On successful completion you will be able to:

Describe the nature of the Australian commercial legal environment and recognise and evaluate the principles of the law of contract and tort
Identify and evaluate corporate characteristics including articulating and critically analysing the role and obligations of directors
Appraise and evaluate how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
Compare corporate mechanisms for dealing with insolvency and critically assess the nature of corporate insolvency in the current regulatory environment.

¹ If you need help with your assignment, please contact:

the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
the Learning Skills Unit for academic skills support.

² Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

Classes will progress through the various Lecture Areas referred to in this Unit Guide. Besides face-to-face delivery of lectures, an online version will be available for the students who are unable to return to campus or who choose to continue their studies online. There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment, holiday scheduling, unit structure or class management. Students should 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.).

Company Law Perspectives, 4th ed. 2020 is available in the Macquarie University library. It can be purchased 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. Students should 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:

Relevant unit material (if any) is/will be available on the learning management system (iLearn)

This unit is taught by way of seminars. Practice questions are discussed to enable the 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, and examinations - 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, or examination, 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 the 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.

Technology Used and Required:

Technology used: learning management system (https://ilearn.mq.edu.au/login/index.php). Students have to frequently access this Unit's iLearn site (https://ilearn.mq.edu.au/login/index.php) for relevant unit material (if any), announcements and detailed information regarding the Unit.

Unit Schedule

Lecture/Seminar Areas/Topics

The required text for the unit is: Quilter, Company Law Perspectives 4th ed. 2020 - published by Thomson Reuters [referred to herein as CLP 4th ed. 2020]

Week 1

LEGAL FRAMEWORK AND LEGAL SYSTEM

LAW OF TORT

Required reading: CLP 4th ed. 2020 - Chapters 1 and 3

Week 2

CONTRACT LAW

Required reading: CLP 4th ed. 2020 - Chapter 2

Week 3

CONTRACT LAW;

CONSUMER PROTECTION

AGENCY

Required reading: CLP 4th ed. 2020 - Chapters 2, 34 and 4

Week 4

COMPARISON OF BUSINESS ORGANISATIONS

CORPORATE HISTORY AND LEGISLATIVE FRAMEWORK

Required reading: CLP 4th ed. 2020 - Chapters 5 and 6

Partnership Act: www.austlii.edu.au/au/legis/nsw/consol_act/pa1892154/

Week 5

REGISTRATION AND TYPES OF COMPANIES

THE COMPANY CONSTITUTION AND THE RELATIONSHIP BETWEEN THE COMPANY AND OUTSIDERS

Required reading: CLP 4th ed. 2020 - Chapters 7, 8, 9, 10 and 11

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 6

No seminar class this week because Friday 2 April 2021 is a public holiday. The topic for this week (Week 6), CORPORATE FINANCING and DIVIDENDS, is moved to be included in Week 7.

Mid-Semester Break (5 – 16 April 2021)

Week 7

CORPORATE FINANCING and DIVIDENDS

DIRECTORS and MANAGEMENT

Required reading: CLP 4th ed. 2020 - Chapters 13, 14,15, 16, 17 and 18

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 8

DIRECTORS' DUTIES and CORPORATE GOVERNANCE

Required reading: CLP 4th ed. 2020 - Chapters 19, 20 and 21

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 9

DIRECTORS' DUTIES (cont.)

FINANCIAL and REPORTING OBLIGATIONS

AUDIT

Required reading: CLP 4th ed. 2020 - Chapters 19, 20, 21, 22, 23 and 24

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 10

MEETINGS AND MEMBERS' RIGHTS

Required reading: CLP 4th ed. 2020 - Chapters 25 and 26

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 11

TAKEOVERS

FINANCIAL SERVICES AND MARKETS

Required reading: CLP 4th ed. 2020 - Chapters 27 and 28

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 12

INSOLVENCY and RESTRUCTURING

Required reading: CLP 4th ed. 2020 - Chapters 29, 30, 31 and 32

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 13

LIQUIDATION

Required reading: CLP 4th ed. 2020 - Chapter 33

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Appeals Policy
Academic Integrity Policy
Academic Progression Policy
Assessment Policy
Fitness to Practice Procedure
Grade Appeal Policy
Complaint Management Procedure for Students and Members of the Public
Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)

Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.

The Library provides online and face to face support to help you find and use relevant information resources.

Student Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

Equity Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Students must use their Macquarie University email addresses to communicate with staff as it is University policy that the University issued email account is used for official University communication.

Consultation is not available via telephone.

Changes from Previous Offering

There is no major change from the offering of this unit in S2 2020.

Because 2 April 2021 (Friday) is a public holiday, the topic for Week 6, CORPORATE FINANCING and DIVIDENDS, is moved to be included in Week 7.

The Online Quiz will be held in Week 6.

Late Submission of Assessment

Late Submission(s): Where the assessment is to be submitted through Turnitin, the late assessment must also, where applicable, be submitted through Turnitin. 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 incurs a 20% penalty). Late submissions will not be accepted after solutions have been discussed and/or made available. This penalty does not apply for cases in which an application for Special Consideration is made and approved. Note: applications for Special Consideration Policy must be made within 5 (five) business days of the due date and time.