The law of public listed companies 506
6 points
* Three 1-hour classes per week
* Second semester
* Clayton
* Corequisite: LAW5214
Objectives Students who successfully complete this subject should (1) understand the operation and regulation of the securities industry in Australia; (2) be able to analyse and examine critically the present regulatory regime from different perspectives and have an appreciation of the dynamics of the current and continuing process of reform of corporate and securities law; (3) have a clear and detailed knowledge and understanding of the structure and regulation of primary and secondary securities markets in Australia; (4) understand the aims and objectives of the Australian scheme for the regulation of company takeovers and have a basic knowledge of the details of the regulatory scheme; (5) have improved skills in statutory interpretation and drafting as a result of the detailed consideration of some of the most technical aspects of the Corporations Law which are dealt with in this subject and (6) have a greater understanding of the fundamental policy of disclosure and investor protection which is the basis of the Australian regulatory scheme for public companies.
Synopsis This subject is concerned with the rules that govern companies that seek to raise funds from the public. In particular, it provides an analysis of the regulation of the securities industry in Australia and the regulation of takeovers. The topics covered include an outline of the securities industry; the nature of securities; the regulation of the stock exchange, brokers and other dealers; prescribed market practices; the regulation of offerings of securities; the aims and objectives of takeover legislation; and the regulation of takeovers. Consideration will be given to the policies underlying these regimes, and historical and other perspectives will be encouraged where appropriate. The impact of the legislative reforms currently occurring in this area will also be discussed.
Assessment Written research assignment (3000 words) and final
examination (2 hours): 30% and 70% respectively
* or final examination (3
hours): 100%
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