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Superannuation Law (LAWS70036)
Graduate coursework level 7Points: 12.5Not available in 2022
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
Overview
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Few areas of law offer the variety and dynamic reform agenda that is encountered with superannuation law. Superannuation law draws together traditional corporate, equitable and trust principles with modern legislative initiatives to achieve Australia‘s retirement incomes objectives. The superannuation industry is heavily influenced by public policy, is governed by multiple regulators and a variety of legislation. The industry is characterised by an array of different stakeholders, ranging from peak industry bodies to the Commonwealth Government. A practice in superannuation law therefore requires a truly holistic approach and a willingness to tackle relevant aspects of other laws, including employment law, family law, contracts, insurance and financial services laws generally. This subject examines the development of superannuation in Australia, the interaction between statutory and general law principles, the role played by various entities in the industry, the licensing, conduct and disclosure obligations and recent reforms, such as those proposed by the Financial System Inquiry.
Principal topics include:
- Development and history of superannuation in Australia
- Characteristics of the superannuation industry (eg the types of funds that exist)
- The regulatory environment for superannuation and the role of key regulators: the Australian Securities and Investments Commission (ASIC), Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO)
- Interaction of general law and statute in relation to trustee duties, rights and powers
- The trust instrument and key service provider contracts (eg investment management, group insurance, administration and custody agreements)
- Trustee decisions, complaints handling and the role of the Superannuation Complaints Tribunal (SCT)
- Self-managed superannuation funds and their regulation
- Taxation of superannuation
- Licensing, conduct and disclosure obligations in the superannuation industry
- The superannuation guarantee and other employer obligations
- Recent reforms and reform proposals.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the legal principles of Australian superannuation law, including recent developments in this field of law and practice.
- Be able to critically examine, analyse, interpret and assess the effectiveness of the regulatory regime for superannuation law in Australia.
- Be an engaged participant in debate regarding emerging and contemporary issues in the field, such as insurance and longevity risk, the role and regulation of financial advisers, tax concessions associated with superannuation, and the role of superannuation in Australia’s infrastructure debate.
- Have a sophisticated appreciation of the factors and processes driving parliamentary revision of the legal framework for superannuation and the various stakeholders, including the Federal Parliament, regulators, industry associations and service providers.
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal reforms relating to superannuation.
- Have an appreciation of the wide scope of the practice of superannuation law and how it interacts with other areas of law including family law, privacy, contracts, insurance, succession law and financial services laws generally.
- Have the communication skills to clearly articulate and convey complex information regarding superannuation law to relevant specialist and non-specialist audiences
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of superannuation law.
Last updated: 10 November 2023
Eligibility and requirements
Prerequisites
Students must meet one of the following prerequisite options:
Option 1
Admission into a relevant Melbourne Law Masters program
Option 2
Admission into the MC-JURISD Juris Doctor
AND
Code | Name | Teaching period | Credit Points |
---|---|---|---|
LAWS50035 | Corporations Law | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 10 November 2023
Assessment
Description | Timing | Percentage |
---|---|---|
Class participation | Throughout the teaching period | 10% |
Class presentation
| 10% | |
Take-home examination
| 20 - 23 April | 80% |
Hurdle requirement: A minimum of 75% attendance | Throughout the teaching period | N/A |
Last updated: 10 November 2023
Quotas apply to this subject
Dates & times
Not available in 2022
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a first come, first served basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Last updated: 10 November 2023
Further information
- Texts
Prescribed texts
Specialist printed materials will be made available free of charge from the Melbourne Law School prior to the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 10 November 2023