Faculty of Law

Monash University

Postgraduate - Unit

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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FacultyFaculty of Law
OfferedNot offered in 2013
Coordinator(s)Ms Evie Bruce



This unit is intended to provide a detailed overview of the law surrounding the Australian equity capital markets. The unit will consider the background to the regulation of disclosure in this area, the policy underpinnings supporting that regulation, the content of the disclosure regimes that apply and the sanctions regimes that support enforcement of that regulation.

Topics include:

  1. Background to the fundraising regime in Australia
    • a short history of disclosure regulation
    • How do investors make decisions?
  2. Prospectus requirements
    • When disclosure is required
    • Prospectus exemptions
  3. Continuous disclosure
  4. Prospectus content
  5. Different offering structures
    • Traditional forms of equity capital raisings
    • Accelerated rights issues
  6. Australian due diligence practices
  7. Managed investment schemes
  8. Liability for defective disclosure
    • General liability for misleading or deceptive conduct
    • Prospectus liability
    • Continuous disclosure liability
  9. Introduction to underwriting, advertising and marketing
  10. Scope of US securities laws.


A student who successfully completes this unit should have a good understanding of:

  1. the policy underpinning the regulation of Australian equity capital markets
  2. the content of the disclosure regimes that apply
  3. the sanctions that support enforcement of that regulation.


Research assignment (3,750 words): 50%
Take-home examination (3,750 words): 50%

Chief examiner(s)

Contact hours

24 contact hours per semester (either intensive, semi-intensive or semester long, depending on the Faculty resources, timetabling and requirements)


LAW7263 Australian corporate law OR LAW7275 Principles of corporations law OR equivalent study or experience.