Students

ACCG2051 – Governance, Business and Corporations Law

2025 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Michael Quilter
michael.quilter@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
40cp 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

Tests [Test 1in Week 7 - 30%; Test 2 in Week 13 – 30%]: There will be 2 tests to be held on-campus during session. All students in ACCG2051 (F2F tutorials and online tutorials) will undertake both tests on campus. Students in F2F tutorials will take both tests in their scheduled tutorials. Students in online tutorials take both tests in allocated rooms on campus at their scheduled tutorial time (subject to room availability).

Qualitative Analysis Task (Media Assignment) [Due 28/4/2025 - 40%]: This is an individual assignment. Students are prohibited from using generative artificial intelligence tools (GAITs, eg ChatGPT) in the drafting and proofreading of their media assignment. Your final submission must be your own original work. No extensions will be granted. There will be a penalty (deduction) of 5% of the total possible mark to be applied for each day beyond the due date that a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day a grade of ‘0’ may be awarded even if the assessment is submitted. This penalty does not apply for cases in which an application for Special Consideration is made and approved.

More detailed information regarding assessments will be available on iLearn.

Assessment Tasks

Name Weighting Hurdle Due
Formal and observed learning: Test 30% No Week 7
Professional practice: Legal issues today 40% No 28/04/2025
Formal and observed learning: Test 30% No Week 13

Formal and observed learning: Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 25 hours
Due: Week 7
Weighting: 30%

 

The purpose of this assessment is for you to demonstrate your understanding and knowledge of key topics from the unit.   You will participate in a formal test.   Skills in focus: - Discipline knowledge   Deliverable: Test Individual assessment

 
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.

Professional practice: Legal issues today

Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 30 hours
Due: 28/04/2025
Weighting: 40%

 

The purpose of this assessment is for you to apply the expertise you have gained in this unit to current issues in the Australian corporate context.   You will evaluate and analysis legal issues found in a current media article.   Skills in focus: - Critical Analysis - Problem Solving - Work Readiness   Deliverable: Written analysis Individual assessment

 
On successful completion you will be able to:
  • 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.

Formal and observed learning: Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Week 13
Weighting: 30%

 

The purpose of this assessment is for you to demonstrate your understanding and knowledge of key topics from the unit.   You will participate in a formal test.   Skills in focus: - Discipline knowledge   Deliverable: Test Individual assessment

 
On successful completion you will be able to:
  • 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.

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 the Unit Schedule 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.

Lectures begin in Week 1 and Tutorials begin in Week 2. Required Text: Quilter, Company Law Perspectives, publishers: Thomson Reuters (Lawbook Co.).

Unit Schedule

UNIT SCHEDULE

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

The required text is Company Law Perspectives (CLP)

Week 1 (Lecture 1)

Legal framework

Law of tort

CLP: Chapter 1 and 3

Week 2 (Lecture 2)

Contract law

CLP: Ch. 2

Tutorial 1

Week 3 (Lecture 3)

Contract law

Agency

Consumer protection

Privacy

CLP: 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

Directors and corporate management

CLP: Ch. 5, 6, 7, 8, 18 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: Ch. 9, 10, 11, 13, 14, 15, 16 and 17

Tutorial 4

Week 6 (Lecture 6)

Directors’ fiduciary and statutory duties

CLP: Ch. 19, 20 and 21

Tutorial 5

Week 7 (Lecture 7)

Directors’ duties - Care and diligence

Corporate governance

Financial reporting and auditors

CLP: Ch. 20, 21, 22 and 23

Tutorial 6 – Test in tutorial

 --------------------------------------

University Mid-Session Break

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Week 8 (Lecture 8)

Members rights

Company meetings

CLP: Ch. 25 and 26

Tutorial 7

[Media Assignment due at start of Week 8 – Monday 28/4/2025]

Week 9 (Lecture 9)

Takeovers

Regulation of financial services and markets

Insider trading

CLP: Ch. 27 and 28

Tutorial 8

Week 10 (Lecture 10)

The concept of insolvency and insolvency regulation

Restructuring

CLP: Ch. 29, 30, 31 and 32

Tutorial 9

 Week 11 (Lecture 11)

Liquidation

The role of liquidators

Insolvent trading

CLP: Ch. 33

Tutorial 10

Week 12 (Lecture 12)

Summary and revision

Tutorial 11

Week 13

Tutorial 12 – Test in tutorial

 

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 connect.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 the Service Connect Portal, 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 2025.03 of the Handbook