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Unit of competency details

PSPREV003 - Manage information on legal entities, relationships and property (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to PSPREV012 - Manage information on legal entities, relationships and propertyEquivalent. Unit Code changed. Minor changes to Application, Elements and PCs. FS added. PE and KE amended for clarity and to remove duplication. AC expanded for clarification. 02/Apr/2022
Supersedes and is equivalent to PSPREV403A - Manage information on legal entities, relationships and propertyUnit code updated. Content and formatting updated to comply with the new standards. All PC transitioned from passive to active voice. Assessment Requirements created drawing upon specified assessment information from superseded unit. 06/Mar/2016

Releases:
ReleaseRelease date
1 1 (this release) 07/Mar/2016

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 090901 Business And Commercial Law  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 090901 Business And Commercial Law  09/Aug/2016 
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Unit of competency

Modification History

Release

Comments

1

This unit was released in PSP Public Sector Training Package release 1.0 and meets the Standards for Training Packages.

This unit supersedes and is equivalent to PSPREV403A Manage information on legal entities, relationships and property.

  • Unit code updated
  • Content and formatting updated to comply with new standards
  • All PC transitioned from passive to active voice

Application

This unit describes the skills required to apply the legal principles that apply to legal entities, relationships and property. It includes determining legal entities and identifying and applying information relating to legal relationships and to property and assets of legal entities.

This unit applies to those working to manage information regarding legal entities and their relationships and assets.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to.

Those undertaking this unit would work independently, performing complex tasks in a familiar context.

No licensing, legislative or certification requirements apply to unit at the time of publication.

Competency Field

Revenue administration

Elements and Performance Criteria

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Determine legal entities 

1.1 Identify types of legal entities and confirm features of each.

1.2 Analyse transactions to determine the legal entities involved.

1.3 Determine liabilities of legal entities in accordance with the particular transactions.

2. Identify and apply information relating to legal relationships 

2.1 Identify formation, type and nature of the legal relationshipsinvolved in transactions.

2.2 Map interrelationships involved in transactions to guide decision making.

2.3 Identify legal responsibilities of particular relationships in accordance with the particular transactions.

2.4 Make decisions and determine liabilities in accordance with the interrelationships and responsibilities determined.

3. Identify and apply information relating to property and assets of legal entities 

3.1 Clarify the nature and legal types of property, and the principles relating to them.

3.2 Use principles relating to real and personal property, leases, licences and assignment of property to map the property and assets of legal entities.

3.3 Identify value of property and nature of ownership.

3.4 Identify and analyse mortgages, easements, memorials, restrictive covenants and other relevant documents for their effect on property ownership.

3.5 Map the property and assets of legal entities and examine and record their interrelationships.

3.6 Make decisions and determine liabilities in accordance with the property and assets of, and relationships between, the legal entities.

Foundation Skills

Foundation skills are embedded within the elements and performance criteria of this unit.

Unit Mapping Information

This unit supersedes and is equivalent to PSPREV403A Manage information on legal entities, relationships and property.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

 

Assessment requirements

Modification History

Release

Comments

1

These Assessment Requirements were released in PSP Public Sector Training Package release 1.0 and meet the Standards for Training Packages.

  • Assessment Requirements created drawing upon specified assessment information from superseded unit

Performance Evidence

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least one occasion.

  • reading and analysing complex and formal documents, including contracts, legislation and related materials, to assist in decision-making
  • explaining differences between different legal entities and impact of those differences on the determination of a tax or duty liability
  • communicating with others involving exchanges of complex information when determining legal entities, relationships and property ownership
  • using technology to conduct research, make enquiries, review available data, access legislative requirements and record outcomes
  • applying environmental and work health and safety procedures to administrative work and when dealing with customers

Knowledge Evidence

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.

  • general features and underlying principles of legal entities and legal relationships
  • fundamental nature of property and principles relating to personal or real property, leases, licences and assignment of property
  • mortgages, easements, charges, memorials and restrictive covenants
  • sources of property law
  • features of a partnership
  • business processes

Assessment Conditions

This unit contains no specific industry-mandated assessment conditions. Guidance on suggested and recommended conditions and methods can be found in the Implementation Guide.

Assessors must satisfy the NVR/AQTF mandatory competency requirements for assessors.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

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