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Unit of competency details

PSPREV012 - Manage information on legal entities, relationships and property (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to PSPREV003 - 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

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 03/Apr/2022

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

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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  03/Apr/2022 
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Unit of competency

Modification History

Supersedes and is equivalent to PSPREV003 Manage information on legal entities, relationships and property.

Application

This unit describes the performance outcomes, skills and knowledge required to apply the legal principles that apply to legal entities, relationships and property.

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

The skills in this unit must be applied in accordance with Commonwealth and State or Territory legislation, Australian standards and industry codes of practice.

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

Pre-requisite Unit

Nil

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.

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 relationships involved 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 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 essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement. 

SKILLS 

DESCRIPTION 

Reading skills to:
  • analyse and interpret legal information in complex formal documents.

Writing skills to:
  • sequence and integrate information in prescribed formats to enable decisions and determinations to be made.

Unit Mapping Information

Supersedes and is equivalent to PSPREV003 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

 

Assessment requirements

Modification History

Supersedes and is equivalent to PSPREV003 Manage information on legal entities, relationships and property.

Performance Evidence

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and on at least one occasion:

  • read and analyse complex and formal documents, including contracts, legislation and related materials, to assist in decision-making
  • communicate with others on matters involving exchanges of complex information when determining legal entities, relationships and property ownership
  • use technology to conduct research, make enquiries, review available data, access legislative requirements and record outcomes.

Knowledge Evidence

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

  • 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 relevant to area of jurisdiction.

Assessment Conditions

Skills must be demonstrated in the workplace or in a simulated environment that reflects workplace conditions.

Assessment must ensure access to:

  • examples of legal entity, relationship and property issues
  • legislation, regulations, rulings, commissioner practices and other applicable case law that refer to legal entity, relationship and property issues
  • organisational procedures and protocols
  • information systems, equipment and resources of the working environment.

Assessors must satisfy the Standards for Registered Training Organisations’ 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

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