Unit convenor and teaching staff |
Unit convenor and teaching staff
Michael Quilter
Rahat Munir
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
50cp at 1000 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. 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. |
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:
Late Assessment Submission Penalty
Unless an application for Special Consideration has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests, exams, performance assessments, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration
Name | Weighting | Hurdle | Due |
---|---|---|---|
Tutorial Participation | 20% | No | Weekly, Ongoing |
Media Assignment | 20% | No | Week 7, Thursday 6th April 2023 at 11.55pm |
Final Examination | 60% | No | University Formal Exam Period |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Weekly, 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.
Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 20 hours
Due: Week 7, Thursday 6th April 2023 at 11.55pm
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.
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: University Formal Exam Period
Weighting: 60%
A two-hour examination will be held during the University Examination period.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Classes will progress through the various Lecture Areas referred to in this Unit Guide. There may be some reorganization, 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 website at: http://www.timetables.mq.edu.au/
Required Text: Quilter, Company Law Perspectives, 5th ed. 2023, Thomson Reuters (Lawbook Co.) – [referred to as CLP 5th ed]. This is a new edition and should be available at the beginning of session.
CLP 5th ed will be available in the Macquarie University library, however, there are limited digital licenses. Both a physical and digital copy can be purchased from the publishers Thomson Reuters via their website https://legal.thomsonreuters.com.au/student/university/macquarie/
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. Certain relevant sections of the Corporations Act are set out in CLP 5th 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: Students should frequently access this Unit's iLearn site (http://iLearn.mq.edu.au) for relevant unit material (if any), announcements and detailed information regarding the Unit.
Note that Lectures start in Week 1 and Tutorials start in Week 2
Week 1 (Lecture 1)
Legal framework
Law of tort
Company Law Perspectives, 5th ed. 2023 [this is the required text and is referred to herein as "CLP 5th ed"]: Ch.1 and 3
Week 2 (Lecture 2)
Contract law
CLP 5th ed: Ch. 2
Tutorial 1
Week 3 (Lecture 3)
Contract law
Agency
Consumer protection
Privacy
CLP 5th ed: Ch. 2, 4, 34 and 35
Tutorial 2
Week 4 (Lecture 4)
Comparison of business structures
Partnership
Registration of companies – the role of ASIC
Types of companies
Consequences of registration
CLP 5th ed: Chs.5, 6, 7, 8 and 24
Tutorial 3
Week 5 (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 5th ed: Ch. 9, 10, 11, 13, 14, 15, 16 and 17
Tutorial 4
Week 6 (Lecture 6)
Directors and corporate management
Directors fiduciary duties
CLP 5th ed: Ch.18 and 19
Tutorial 5
Week 7 (Lecture 7)
Directors statutory duties
Corporate governance
CLP 5th ed: Ch. 20, 21
Tutorial 6
-University Break-
Week 8 (Lecture 8)
Directors (continued)
Financial reporting and disclosure obligations
Audit
CLP 5th ed: Ch. 20, 21, 22, 23
Tutorial 7
Week 9 (Lecture 9)
Members rights
Company meetings
CLP 5th ed: Ch. 25 and 26
Tutorial 8
Week 10 (Lecture 10)
Takeovers
Financial services and markets – regulation and prohibited conduct
CLP 5th ed: Ch. 27 and 28
Tutorial 9
Week 11 (Lecture 11)
The concept of insolvency and the importance of insolvency regulation
Restructuring
CLP 5th ed: Ch. 29, 30, 31 and 32
Tutorial 10
Week 12 (Lecture 12)
Liquidation
The role and responsibilities of liquidators
CLP 5th ed: Ch.33
Tutorial 11
Week 13 (Lecture 13)
Summary and Revision
Tutorial 12
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.
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 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
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.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
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.
Macquarie University offers a range of Student Support Services including:
Got a question? Ask us via AskMQ, or contact Service Connect.
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 2023.04 of the Handbook