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Elements and Performance Criteria

1. Research legal aspects of commercial and property law
   • Source knowledge of commercial and property law and related legislation, regulation and practice
   • Identify different types of commercial and property transactions and clearly outline their legal context, establishment procedures and purpose
   • Identify relevant legal principles applying to commercial and property matters
2. Analyse legal issues and risks associated with the operation of a business
   • Identify areas of risk in the application of law in commercial and property matters
   • Analyse how legal issues in impact on different types of legal entities
   • Evaluate the relevance and implication of risks for the structure, operation and performance of different types of legal entities
   • Assess the ways in which risk mitigation is addressed in the formation and operation of different types of legal entities
3. Apply knowledge of law to business structures
   • Collect and collate available information for analysis
   • Interpret, analyse and process available information to obtain required knowledge
   • Seek advice and guidance of specialist experts if required, to interpret, analyse and synthesise
   • Provide advice based upon identified facts and relevant law
4. Maintain legal knowledge
   • Relevant legal sources are reviewed regularly and any changes applied in daily work
   • Systems for keeping up with changes and maintaining up-to-date knowledge about relevant legal aspects of commercial and property law are put in place and used

Required Skills

Required skills

communication skills to

liaise with others share information provide advice and guidance

use language and concepts appropriate to cultural differences

research skills to

access and interpret legislation regulation and precedent

identify commercial and property law related matters that have the potential to impact on client services

literacy skills for analysing information needs and preparing clear written advice for clients

learning skills to maintain knowledge of changes to legislation and requirements

problem solving skills to

apply statute regulation and precedent to a clients circumstances

develop options to resolve client related matters when they arise

organisational skills including the ability to plan and sequence work

Required knowledge

operation of the Australian legal systems and processes relevant to commercial and property law

legal concepts underpinning law of torts

common law

legislation

legal concepts and scope of contract law

formation agreement and intention to create legal relations

formation consideration form legality and capacity

contents express terms exclusion clauses

contents implied terms common law and statute Commonwealth and state competition and consumer legislation

vitiating elements unconscionability misrepresentation capacity

discharge remedies including rescission for unconscionable conduct

agency

legal concepts and scope of consumer law

common law

equity

legislation

legal aspects of property law

introduction to the fundamental law of real and personal property transactions

basic principals of intellectual property law

legal aspects of superannuation

ways in which superannuation can be accumulated and taken

who can provide superannuation products and how those providers and their products are prudentially licensed and regulated

duties of superannuation trustees

how superannuation interests are protected and litigated

current and future developments in superannuation law and policy

Evidence Required

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

Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit	Evidence of the ability to demonstrate knowledge and understanding of contract and property law such that it can be applied to ever changing statutory common law and equitable principles to particular fact circumstances in order to provide advice draw conclusion having regard to the facts and relevant law access information on
Context of and specific resources for assessment	Assessment must ensure competency is demonstrated in the conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
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 analysis of responses to case studies and scenarios direct questioning combined with review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the candidate observation of role plays review of documentation outlining the legal obligations criteria and purpose oral or written questioning to assess knowledge of legal terminology practice and application conducting a summative assessment of knowledge
Guidance information for assessment	This unit is designed to meet regulatory requirements of the Tax Practitioners Board assessment must reflect the constraints described by the regulator These can be accessed on the TPB website and are also reproduced in current regulatory guidelines published on the IBSA website wwwibsaorgau under training packagesfinancial services

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Range Statement

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.

Commercial law includes:	law of contracts consumer law (federal and state law, and statutory rights) law of torts negligence negligent misstatement legal aspects of superannuation
Property includes:	real property personal property intellectual property
Legislation includes that relating to:	Superannuation Industry (Supervision) Act Financial Services Reform Act (FSR) relevant state and territory property and titles legislation and regulation

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