Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. 1. Research legal aspects of corporations and trust law relevant to client's circumstances
   • Identify client circumstances that require advice on corporation and trust law matters
   • Research corporations and trust law and related legislation, regulation and practice
   • Identify different types of relevant corporations and trust law transactions, and clearly outline their legal context, establishment procedures and purpose
   • Identify legal principles applying to corporation and trust matters that are relevant to client circumstances
2. Analyse issues and risks associated with operation of a business
   • Identify areas of risk in application of law in corporation and trust matters
   • Analyse how legal issues impact on different types of legal entities
   • Evaluate relevance to client circumstances and implication of risks for structure, operation and performance of different types of legal entities
   • Assess ways in which risk mitigation is addressed in formation and operation of different types of legal entities
3. Apply knowledge of law to business structures
   • 3.1 Collect and collate client's business information for analysis
   • 3.2 Interpret, analyse and process available information to obtain required knowledge on client's business structure requirements
   • 3.3 Seek advice and guidance of specialist where required, to interpret, analyse and synthesise client's relevant information
   • Provide advice to client based on identified facts and relevant laws
4. Maintain legal knowledge
   • 4.1 Review client's circumstances and business structure, and apply any changes in relevant aspects of corporations and/or trust law if necessary
   • Access and use systems for maintaining up-to-date knowledge about relevant legal aspects of corporations and trust law
   • Review relevant legal sources regularly and apply any changes in daily work
5. Research legal aspects of corporations and trust law relevant to client's circumstances
   • Identify client circumstances that require advice on corporation and trust law matters
   • Research corporations and trust law and related legislation, regulation and practice
   • Identify different types of relevant corporations and trust law transactions, and clearly outline their legal context, establishment procedures and purpose
   • Identify legal principles applying to corporation and trust matters that are relevant to client circumstances

Performance Evidence

Evidence of the ability to:

research changes to, or new, legislative requirements in relation to corporations and trust law relevant to the client's circumstances and business structure requirements

apply current statute, common law and equitable principles in relation to corporations and trust law relevant to the client's circumstances

present a recommendation on suitable business structures or legal entities to the client after considering the client’s circumstances.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

---

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

describe the operation of the Australian legal systems and processes relevant to corporations and trust law including:

basic principles, current statute, common law and equitable principles

roles and responsibilities of key organisations

constitutional considerations

separation of powers

basic principles of the law of torts, particularly relating to negligence and negligent misstatement

courts and regulatory bodies

outline how laws are enacted and their underlying policy aims

explain how those laws may be interpreted by existing common law and equitable rules and applied to corporations and trusts

analyse legal concepts of business organisational structures, and underlying regulation including the application of these to:

sole traders

partnerships

corporations

trusts

agencies

joint ventures

incorporated associations

examine legal aspects of superannuation with reference to:

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

identify and reference the key features of Australian corporations law and requirements to analyse issues and risks relating to:

nature of a company

company registration

promoters and pre-registration contracts

company constitution and replaceable rules

contracting with others

fundraising

share capital

member meetings

corporate management

directors’ duties

member remedies

bankruptcy and insolvency

examine legal concepts and scope of law covering trusts with particular reference to:

structure of a trust

trust deed

common law duty

role and responsibilities of a trustee

types of trusts

member meetings

corporate management

member remediation

bankruptcy and insolvency.

---