Lecturer: To be advised.
Prerequisites: Torts and the Process of Law, History and Philosophy of Law and Taxation Law.
Corequisites: Students should have completed or be concurrently enrolled in Corporations Law and Equity.
Contact: 2 hours per week (First semester)
Prize: Spero Wilson Memorial Scholarship ($250) Objectives: Students completing this subject should:
have acquired a detailed understanding of the taxation treatment of interposed entities (companies, trusts, and partnerships), have analysed the current use of these structures for tax minimisation purposes in commercial transactions, have considered current issues and difficulties in the taxation treatment of these entities, have analysed proposals for resolution of those difficulties, and have assessed critically any recent legislative and judicial developments in the taxation treatment of these entities.
Content: The course involves an advanced study of areas of practical importance in taxation law which are not tackled in depth in the regular taxation course. Particular attention is given to: the income and capital gains tax treatment of companies, trusts and partnerships; the current use of these entities in commercial transactions for tax minimisation and avoidance purposes; the taxation of international transactions involving these entities; the tax policy underlying their taxation treatment. Other topics which bear upon these matters or which are affected by them will be addressed depending on current developments.
Assessment: Either Research Essay 5000 words (100 per cent) or Final Exam 3 hours (100 per cent).
Prescribed texts: The Income Tax Assessment Ad as amended (Butterworths or CCH). Further texts to be advised.
730-377 AUSTRALIAN SUPERANNUATION LAW Lecturer: Dr M Bryan •
Prerequisites: Torts and the Process of Law; History and Philosophy of Law.
Contact: 2 hours per week (Second semester) Prize: Gadens Ridgway Exhibition (250)
Objectives: Students completing this course should:
appreciate the extent and role of superannuation in Australia; understand the different forms of superannuation which east in Australia; appreciate the taxation, social security and industrial relations implications of the principal forms of superannuation in Australia; understand the different legal rights and duties of parties to superannuation schemes in Australia, including the common law, equitable and statutory rights of beneficiaries and of the general fiduciary duties and statutory obligations of trustees; know the law relating to superannuation surpluses and of problems associated with interpreting superannuation trust deeds; appreciate the key problems associated with the management of superannuation schemes, including financial, taxation, and legal implications; and appreciate the history and development of superannuation in Australia and of the likely direction of law reform in the area
Content: Introduction: the different forms of superannuation in Australia Public sector. Defined benefits schemes. Defined contribution schemes. Industry superannuation schemes. The Purposes of Superannuation. This topic will consider the broad goals of superannuation, including the relationship between superannuation schemes and the federal governments retirement incomes policy, and the aim of expanding the capital base within the Australian economy. Types of Schemes: This topic will consider in some detail the various forms of private superannuation schemes and the legal regulation of them. This will include, in particular, a focus on industrial award based superannuation schemes and of the jurisdictional and administrative complexity of such schemes. Occupational Superannuation Guidelines:
This topic will consider the governments occupational superannuation guidelines and the specific associated issues of portability of superannuation, the taxation regime for superannuation and the relationship between superannuation and social security legislation. The Superannuation Guarantee Levy: This topic will examine the governments new/proposed Superannuation Guarantee Levy both in terms of its content and in terms of its implications for award based superannuation.
Rights and Duties. This topic will analyse the rights and duties of beneficiaries and trustees of superannuation schemes. In particular the common law, equitable and statutory rights of beneficiaries will be examined both in terms of their rights to information about the operation and benefits flowing from the scheme, as well as enforcement of rights. An examination of the duties of superannuation trustees will include a consideration of the construction of trust deeds, the general fiduciary duties of trustees, as well as the growing body of statutory obligations. The
investment powers of superannuation trustees, and statutory and equitable restrictions on investment, will also be considered. Superannuation surpluses: this topic will examine the case law concerning who is entitled to the benefit of superannuation surpluses - the beneficiaries or the companies sponsoring the superannuation scheme.
This will involve also an examination of the law relating to company takeovers as it affects superannuation, as well as the disposal of a surplus upon company insolvency.
Managing superannuation schemes: this topic will examine issues relating to the management of superannuation schemes including the management of rollover schemes, the use of professional administration organisations, investment decision making, the use of professional investment managers, the use of pooled superannuation trusts, accounting and auditing requirements, mechanisms for informing beneficiaries of the benefits and operation of the scheme, and the dispute resolution processes. Reform of superannuation: this topic will review the regulatory framework governing superannuation schemes in Australia and consider the direction of, and the need for, reform.
Assessment: Research Essay 4000 words (100 per cent) or Final Exam 2 hours (100 per cent).
Prescribed texts: To be advised.
730-309 BANKING AND NEGOTIABLE INSTRUMENTS Lecturer: Prof H Luntz •
Prerequisites: Torts and the Process of Law; History and Phibsophy of Law; Contracts; Property.
Corequisites: Equity. Banking and Negotiable Instruments is one of a broad group of subjects dealing with commercial law, the fundamental one of which is Law of Sales. However, the subject is discrete in itself and need not necessarily be taken in conjunction with any other optional course. Nevertheless, since a large part of banking business consists in lending money on various securities, and since the law relating to securities is not dealt with in this course, students who have a particular interest in pursuing a career that may require a knowledge of banking law should at some time also have taken Law of Security and Secured Transactions in order to become familiar with the principles applicable to various types of securities.
Contact: 2 hours per week (First semester) Prize: Cars Chambers Westgarth ($200)
Objectives: Students completing this course should: be able to demonstrate the application of general principles of contract law to the specific contractual relationship of banker and customer; be familiar with the particular rules that apply to the banker-customer contract; have an awareness of the social context in which the banker-customer contract operates; have an understanding of the concept of negotiability and its utilisation in relation to the complex contractual relationships that arise under the common forms of negotiable instrument; be familiar with the partial codes of
law embodied in
te
Bibscl
Exchange Act
1909 (Cth) and the Cheques and Payment Orders Act
1986 (Cth), and some of the case law relevant to their interpretation; and have an understanding of how the financing of international trade is facilitated by means of bankers' commercial credits and negotiable instruments, and of the legal basis of such documents.Content: A brief overview of the Australian banking system. The legal concept of the business of banking. The nature of the banker-customer relationship. Who is a customer? The Codes of Banking Practice. The rule in Clayton's case. Set-off (combination of accounts). The duty of the customer n relation to the account The bank's duty of secrecy. The bank's liability for advice - to customers and to third parties. Alternative dispute resolution: the Australian Banking Industry Ombudsman.
The concept of negotiability. A detailed analysis of the bill of exchange, promissory note and cheque; and the contractual rights and liabilities arising from the use of these instruments. The special rules relating to cheques, particularly bst and stolen cheques. If time permits, the legal rights and obligations arising out of the use of credit cards.
Bankers' commercial credits as used in the financing of international trade.
Assessment Either Research Assignment 2500-3000 words (50 per cent) and Final Exam 1' hours (50 per cent); or Final Exam 3 hours (100 per cent).
Prescribed texts: Tyree Banking Law in Australia 1990 Butterworths.
Bics
of Exchange Ad 1909 (Cth) AGPS Commonwealth. Cheques and Payment Orders Act 1986 (Cth) AGPS. Also, the National Australia Bank booklet, Finance of International Trade (6th ed. 1990) are required;and Burton Austalan Financial Transactions Law (Butterworths, 1991) is strongly recommended.
730-384 CIVIL PROCEDURE Lecturer Mr G Reinhardt -
Prerequisites: Torts and the Process of Law; History and Philosophy of Law.
Contact 3 hours per week (First semester) Prize: Maflesons Stephen Jaques ($200)
Objectives: Students completing this subject should:
acquire an understanding of how civil disputes are regulated and resolved whether in the Courts or through some other medium of dispute resolution.
Content: The objectives underlying the rules of civil procedure; costs in the litigious process and the cost of justice generally; the jurisdiction of the Courts, including cross-vesting and transfers between Courts; preliminary discovery, fact finding generally and the preservation of the status quo pending determination of a dispute; joinder of causes of action and parties, including dass actions;
originating process, service and appearance; moving a proceeding along, including default and summary judgments and judicial intervention in the litigious process;
pleading, documentary discovery and interrogation, induding possible reform to require further disclosure by parties; mistakes and amendments; the settlement process induding offers of compromise, pre-trial conferences and mediation; the specialist lists; judgments, orders and their enforcement; the appeal process;
alternative dispute resolution, including arbitration, mediation and mini trials.
Assessment: Final Exam 3 hours (100 per cent).
Prescribed texts: Aronson, Hunter and Weinberg, Litigation Evidence and Procedure Butterworths 5th ed., Rules of the Supreme Court Chapter I. Printed Materials will be issued by the Law School
730-392 COMPARATIVE CONSTITUTIONAL LAW Lecturers: Dr G Hassall
Prerequisites: Torts and the Process of Law, History and Philosophy of Law and Constitutional and Administrative Law.
Contact: 2 hours per week (First semester) Prizes: Raynes Dickson Exhibition ($200)
Objectives: Students completing this subject should: gain an understanding of diversity among constitutional systems in Europe and Asia; be familiar with diverse foundations of constitutionalism; demonstrate awareness of key comparative constitutional concepts such as separation of powers and responsibilities and constitutional interpretation; gain an understanding of notions of individual and state rights; and be equipped to undertake advanced studies in comparative constitutional law.
Content: This course comprises an overview of the foundations of constitutionalism using a comparative perspective. It focuses on the historical, cultural, and sodo- legal influences which shape constitutions and constitutional interpretation in selected European and Asian jurisdictions; separation of powers; rights and responsibilities; and constitutional amendment. The course will also examine relations between branches of government and other organs of the state, including the judiciary.
Assessment: Either Research Assignment 4000 words (80 per cent) and Seminar Paper 1000 words (20 per cent) or Final Exam 2 hours (60 per cent) and Seminar Paper 2000 words (40 per cent).
Students must select the form of assessment in Week 3 of the course. No changes will be possible.
Prescribed texts: Printed materials will be issued by the Law School.