Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to apply legal principles in corporation law matters, including establishing business structures and preparing associated documentation. A range of legislation, rules, regulations and codes of practice may apply to this unit at the time of endorsement, depending on job roles and jurisdictions. |
Application of the Unit
Application of the unit |
This unit applies to individuals who apply knowledge of a range of principles in corporation law matters. Its application in the workplace will be determined by the job role of the individual and the legislation, rules, regulations and codes of practice relevant to different jurisdictions. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Identify laws and principles of corporation law |
1.1. Source knowledge of corporation law and related legislation 1.2. Identify different types of business structures and clearly outline their structure, personnel, legal obligations, establishment procedures and purpose 1.3. Identify the differences between proprietary companies and public companies, and clearly outline the legal obligations, criteria and purpose of each |
2. Enhance professional practice through application of relevant corporation law principles to business structures |
2.1. Identify consequences of incorporation 2.2. Identify structure, contents and purposes of an organisation's memorandum of association and articles of association 2.3. Identify other specific activities relevant to corporation law |
3. Undertake administrative tasks associated with corporation law |
3.1. Prepare forms , documents and annexures at the appropriate time, present to designated person for review and sign-off, and lodge with the appropriate government department 3.2. Make arrangements for documents to be despatched, signed and witnessed by appropriate parties 3.3. Provide assistance in preparing company prospectus where required 3.4. Arrange meetings as necessary to discuss the nature of debenture and the assets underwriting the charge 3.5. Undertake appropriate searches and obtain search documents from relevant agencies 3.6. Prepare forms and documents related to the administration of charges at the appropriate time, present to designated person for review and sign-off, and lodge with the appropriate government department 3.7. Determine types of costs for legal services in accordance with legislative and regulatory requirements 3.8. Make arrangements for documents to be despatched, signed and witnessed by appropriate parties |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure access to:
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Method of assessment |
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended. |
Range Statement
RANGE STATEMENT |
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The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. |
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Legislation includes that relating to: |
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Different types of business structures and business arrangements include: |
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Consequences of incorporation relate to: |
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Specified activities within corporation law relate to: |
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Forms involved in incorporation may include: |
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Designated person may include: |
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Appropriate parties involved in the incorporation of a company include: |
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Search documents may include: |
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Relevant agencies include: |
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Forms and documents related to the administration of charges include: |
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Appropriate parties involved in arranging charges include: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Administration - legal administration |
Co-requisite units
Co-requisite units |
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