Students

ACCG2051 – Business and Corporations Law

2022 – Session 1, In person-scheduled-weekday, North Ryde

General Information

Download as PDF
Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Monica Rouvellas
By Appointment. Please email to organise a consultation time.
Teaching Assistant
Cissy Zhan
Contact via Contact via ACCG2051@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
50cp at 1000 level or above
Corequisites Corequisites
Co-badged status Co-badged status
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. At the conclusion of the unit students will be aware of legal regulation applicable to different types of business organisations, particularly companies, and be able to identify and evaluate a range of corporate legal issues.

Important Academic Dates

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

Learning Outcomes

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

  • ULO1: Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • ULO2: Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • ULO3: Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • ULO4: Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.
  • ULO5: Apply data protection and privacy regulations when using or sharing data and information in the business environment.

General Assessment Information

 

 

ACCG2051

Business and Corporations Law

Session 2, Weekday attendance, North Ryde

General Information

 Download as PDF

Unit convenor and teaching staff Convenor and Lecturer

Monica Rouvellas

monica.rouvellas@mq.edu.au

Contact via Email

See iLearn

Teaching Assistant

Cissy Zhan

cissy.zhan@mq.edu.au

Contact via ACCG2051@mq.edu.au

Credit points

10

Prerequisites

50cp at 1000 level or above

Corequisites  
Co-badged status  
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. At the conclusion of the unit students will be aware of legal regulation applicable to different types of business organisations, particularly companies, and be able to identify and evaluate a range of corporate legal issues.

Important Academic Dates

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

Learning Outcomes

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

  • ULO1: Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • ULO2: Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • ULO3: Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • ULO4: Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.

General Assessment Information

Together with the information provided in this Unit Guide there will be additional, and if required updated, information and detail in relation to assessment, and the unit generally, available on iLearn.

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.

 

Assessment Tasks

Name Weighting Hurdle Due
Tutorial participation 20% No Throughout Session
Media Assignment 20% No Week 8 Friday 4pm
Final Examination 60% No University Exam Period

Tutorial participation

Assessment Type 1: Participatory task

Indicative Time on Task 2: 20 hours

Due: Ongoing

Weighting: 20%

 

Individual participation throughout the unit will be graded and is worth 20%. On successful completion you will be able to:

  • Identify the key concepts, laws, cases, complexity, challenges, and opportunities in the business and corporate environment.
  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.
  • Analyse and communicate the core concepts of business and corporate law to practical scenarios similar to those in the real world, as an individual and as part of a group.

 

 

 

Tutorial participation involves evidence of preparation for, participation in, and contribution to the tutorial.

 

Media Assignment

Assessment Type 1: Qualitative analysis task

Indicative Time on Task 2: 20 hours

Due: Report due Week 8 - Friday 4pm. Submit via TurnitIn on iLearn.

Weighting: 20%

This assessment involves a 1000 word written analysis of a current contemporary issue that relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 onwards.

 

On successful completion you will be able to:

  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • Discuss the interrelationship between corporate law and ethics, including the relationship between laws, regulations and the public interest.

Final Examination

Assessment Type 1: Examination

Indicative Time on Task 2: 40 hours

Due: University Exam Period

Weighting: 60%

 

A two- hour closed book final examination for this unit will be held during the University Examination period.

On successful completion you will be able to:

  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.
  • Explain how data protection and privacy regulations are applied within organisations when collecting, storing, accessing and using data and information.

 

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

Assessment Tasks

Name Weighting Hurdle Due
Tutorial Participation 20% No Ongoing
Media Assignment 20% No Week 8 Friday 4pm
Final Examination 60% No University Examination Period

Tutorial Participation

Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Ongoing
Weighting: 20%

 

Tutorial (online) includes responses to written tutorial questions, answering questions, asking questions and engaging with other students and tutor and following tutorial discussion.

 


On successful completion you will be able to:
  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.
  • Apply data protection and privacy regulations when using or sharing data and information in the business environment.

Media Assignment

Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 20 hours
Due: Week 8 Friday 4pm
Weighting: 20%

 

This assessment involves a 1000 word written analysis of a current Australian newspaper/media article that relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 forward.

 


On successful completion you will be able to:
  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: University Examination Period
Weighting: 60%

 

A two-hour online examination will be held during the University Examination Period.

 


On successful completion you will be able to:
  • Identify the features of the Australian legal system including the law of contract and distinguish business organisations based on their legal characteristics.
  • Explain how companies are formed, differentiate between types of companies, and analyse and evaluate the role and obligations of directors.
  • Examine how shareholders rights are protected and how the Corporations Act regulates acquisition and disposal of shares.
  • Analyse insolvency mechanisms and issues, and critically assess corporate insolvency in the current regulatory environment.
  • Apply data protection and privacy regulations when using or sharing data and information in the business 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 Writing Centre 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. There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment, holiday scheduling, unit structure, delivery or class management. 

The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/

Required Text: Quilter, Company Law Perspectives, 4th ed. 2020, Thomson Reuters (Lawbook Co.) – [referred to as CLP 4th ed

CLP 4th ed will be available in the Macquarie University library. It can be can be purchased from the publishers Thomson Reuters via their website https://legal.thomsonreuters.com.au/student/university/macquarie/

LexisNexis practical guidance. Cybersecurity, data protection & privacy. (n.d.). Chatswood, N.S.W: LexisNexis. This accessible online through the Macquarie University Library: https://multisearch.mq.edu.au/permalink/61MACQUARIE_INST/1c87tk9/alma99244638810102171 

The following is not required but may be useful: Lipton, Herzberg and Welsh, Understanding Company Law, Thomson Reuters (Lawbook Co.). 

After considering the Australian legal framework, tort law and contract 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 CLP 4th ed. Statutes may be viewed in full at www.austlii.edu.au

Useful websites

Useful databases

Students should be ready to allocate at least 150 hours during the session (in total) to ACCG2051. This includes all classes, assessment, personal study and other learning activities.

Technology Used and Required: 

Technology: 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

Unit Schedule

Note that Lectures start in Week 1 and Tutorials start in Week 2

The Unit is divided into 5 integrated areasAll 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 the delivery of services; objectivity in assessment of performance; privacy and data collection, basic business organisation and structure.

 

Business Organisations and the Corporate Framework

Relevance for accounting and business professionals: Informed as to the choice of profit-making structure; the importance of exposure and extent of business failure and personal liability; understanding key business advice and strategy; entrepreneurial interrelationships; knowledge of role and functions of the corporate regulator.

 

Corporate management and governance responsibilities

Relevance for accounting and business professionals: Developing the ability to advise corporate clients, including individual directors and other managers; relevant foundation knowledge for personal future entrepreneurship; the 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.

 

Shareholders and the corporate market

Relevance for accounting and business professionals: Ability to advise clients on the nature of the corporate marketplace; foundation information for providing professional investment advice to clients; awareness of key issues in company meetings; grounding for professional advisory role and introduction to current market issues in the acquisition and disposal of shares; introduction to shareholder equity issues including protection of rights.

 

Insolvency and Restructuring

Relevance for accounting and business professionals: Exposure to key accounting and business issues in insolvency practice and the place of insolvency practitioners in the accounting and legal professions; understanding important signs and warnings of insolvency for both personal and business advisory use; being alert to insolvency options; understand legal alternatives and advise companies and their directors on effective insolvency planning and remedial action; and takeovers.

Week  

Topic              

1

 

Legal Framework, Law of Tort 

CLP Chpts 1, 3,  6 and 11

2

 

Contract Law I

CLP Chpt 2

3

 

Contract Law II, Consumer Protection, Agency

CLP Chpts 4, 10 and 34

4

 

Comparison of business organisations, Partnership, Registration of Companies including the role of ASIC, Types of Companies & consequences of registration

CLP Chpts 5, 7, and 8

5

 

The nature of Trusts, Company Constitution, Role of directors, Financing of companies using equity and debt and Dividends

CLP Chpts 5, 9, 13, 14, 15, 16 and 17

6

 

Directors and corporate management, Director’s fiduciary duties

CLP Chpts 18 and 19

7

 

Directors’ statutory duties and corporate governance, financial and reporting obligations, Audit

CLP Chpts 20, 21, 22, 23 and 24

8

 

Members rights, Company meetings

CLP Chpts 25 and 26

9

 

Takeovers, Financial services and markets – regulation and prohibited conduct

CLP Chpts 27 and 28 

10

 

The concept of insolvency and the importance of insolvency regulation, Restructuring

CLP Chpts 29, 30, and 31

11

 

Liquidation, the role and responsibilities of liquidators

CLP Chpts 32 and 33

12

 

Data Protection and Privacy Regulations

LexisNexis Practical Guidance: AU Cybersecurity, Data Protection & Privacy (Access through Multisearch).

 

13

 

Summary and Revision for final exam

 

Tutorial Schedule

Week  

Topic              

2

 

Legal Framework, Law of Tort 

3

 

Contract Law I

4

 

Contract Law II, Consumer Protection, Agency

5

 

Comparison of business organisations, Partnership, Registration of Companies including the role of ASIC, Types of Companies & consequences of registration

6

 

The nature of Trusts, Company Constitution, Role of directors, Financing of companies using equity and debt and Dividends

7

 

Directors and corporate management, Director’s fiduciary duties

8

 

Directors’ statutory duties and corporate governance, financial and reporting obligations, Audit

9

 

Members rights, Company meetings

 

10

 

Takeovers, Financial services and markets – regulation and prohibited conduct

11

 

The concept of insolvency and the importance of insolvency regulation, Restructuring

 

12

 

Liquidation, the role and responsibilities of liquidators

13

 

Data Protection and Privacy Regulations and Revision for Final Exam

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

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

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

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

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

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

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

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

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

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.


Unit information based on version 2022.03 of the Handbook