Outline

Overview

This unit analyses the Personal Property Securities legislation drawing attention to how it has changed the pre-existing law regulating the rights of secured creditors. The unit focuses on the concepts of security attachment and perfection. It examines the nature of security interests regulated by the legislation together with the registration priority and enforcement regimes. In discussing the Australian position, the unit compares similar legislation in Canada and New Zealand.

Unit details and rules

Academic unit	Law
Credit points	6
Prerequisites ?	None
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	Unless approved by the Unit Coordinator students who do not hold a law degree from a common law jurisdiction must either have completed or be concurrently enrolled in LAWS6252 Legal Reasoning and the Common Law System before enrolling in this unit
Available to study abroad and exchange students	No

Teaching staff

Coordinator	Sheelagh McCracken, sheelagh.mccracken@sydney.edu.au

Type	Description	Weight	Due	Length
Assignment	Assignment Written assessment	30%	Week 02 Due date: 17 Aug 2021 at 15:00 Closing date: 10 Sep 2021	3,000 words / 20 days
Outcomes assessed:
Final exam (Take-home extended release)	Exam Take-home exam (3000 words)	70%	Week 09 Due date: 16 Oct 2021 at 10:00	48 hours
Outcomes assessed:
= Type E final exam ?

Assessment summary

Assignment (30%):

Assignment is released on Wednesday 28 July 2021 at 10 am and is due on Tuesday 17 August 2021 at 3pm. It is one problem based question, covering the first half of the unit, with a maximum word limit of 3,000 words. The closing date is Friday 10 September, 3pm. Special consideration after that date leads to an alternative essay-style assignment.

Final Take Home Exam (70%)

48 hour extended release take home exam covering the whole unit. It is released on Saturday 16 October 2021 at 10 am and is due on Monday 18 October 2021 at 10 am. It is one problem based question, with a maximum word limit of 3,000 words.

Both problem-based tasks are directed at producing the learning outcomes described above. They assess each student’s ability to (i) identify the legal issues that arise from the given facts; (ii) select the legal rules that are relevant to those issues (noting any areas of legal uncertainty); (iii) apply the relevant rules to the issues so as to reach appropriate conclusions; (iv) develop arguments in a logical mannter and by reference to statutory provisions and case law; and (v) employ a succinct and grammatically correct writing style.

Assessment requirement to pass a unit of study

A student must make a genuine attempt at all assessment tasks set out in this Unit of Study in order to obtain a Pass mark and grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study.

Assessment criteria

Result name	Mark range	Description
High distinction	85 - 100	• Completely answers the question. • Contains striking originality of approach or analysis. • Demonstrates exhaustive or innovative research (where independent research required). • Exceptionally well written, structured and expressed. • Is otherwise exceptional in some way.
Distinction	75 - 84	• Completely answers the question. • Achieves a critical and evaluative approach to the issues. • Content and structure is well organised in support of the argument. • Demonstrates extensive research and analysis to support a well-documented argument. • Generally well expressed and free from errors. • Has a clear structure and is well articulated.
Credit	65 - 74	• Covers main issues fairly well in answering the question. • Contains no significant errors • Demonstrates an attempted critical approach to the issues. • Demonstrates reasonably sound research and analysis in addressing the key issues. • Has a clear structure and reasonably clear expression.
Pass	50 - 64	• Identifies the key issues, but does not follow through with a reasoned argument. • Contains some significant errors. • Displays satisfactory engagement with the key issues. • Offers descriptive summary of material relevant to the question. • Superficial use of material, and may display a tendency to paraphrase. • Demonstrates little evidence of in-depth research or analysis. • Adequate expression. • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	• Does not answer the question. • Contains significant or numerous errors. • Few or no identifiable arguments. • Content that is inappropriate or irrelevant. • Lack of research or analysis. • Difficult or impossible to understand through poor grammar, expression or structure. • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Assignment: The late submission of a piece of assessment, which has not been granted an extension, will attract a penalty of 10% of the total marks available for the piece of assessment per calendar day or part thereof. Special consideration after the closing date (10 September 2021) leads to an alternative essay-style assignment. Final Take-Home Exam: No work will be accepted after the assessment submission deadline. Please apply for special consideration https://www.sydney.edu.au/students/special-consideration.html. Any approved applications for special consideration will receive a replacement exam.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Ongoing	Identifying a security interest	Block teaching (6.5 hr)
	Making a security interest effective	Block teaching (6.5 hr)
	Assessing the reach and priority of a security interest	Block teaching (6.5 hr)
	Determining the impact of the Personal Property Securities Act on the remedies of the secured creditor and exploring The Personal Property Securities Act's relationship with the insolvency regime and the registration regime	Block teaching (6.5 hr)

Attendance and class requirements

Attendance: All students are required to attend 70% of classes (or as otherwise specified by the Unit Coordinator) to satisfy the pass requirements for each unit of study. Attendance requirements may be satisfied by online attendance as specified by the Unit Coordinator. Failure to meet this requirement may result in a student being precluded from sitting the final assessment.

For units offered in Intensive mode, participation in all scheduled sessions may be expected by a Unit Coordinator in order to satisfy the requirements of the unit.

Word count penalty: A piece of assessment which exceeds the prescribed word limit will be read only up to the word limit. The total word count for essay and other written assessments will exclude bibliography; footnote numbers; footnote citation; cover page and include body text; headings and sub-headings; quotations; anything other than numbers and citations in footnotes.

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the library website where this is set out comprehensively is available at https://libguides.library.usyd.edu.au/c.php?g=508212&p=3476376

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Unless you intend to buy the Annotated Personal Property Securities Act 2009 (see Reading Guide) you should download the Personal Property Securities Act 2009 (Cth) (together with the Replacement Explanatory Memorandum) and aim to familiarise yourself with the legislative provisions. The material can be accessed at www.legislation.gov.au. You should ensure that you access the latest consolidated version (at at 1 January 2021, Compilation No: 17), as the original Act has been amended on several occasions. A copy of the Act must be brought to class.

The prescribed text book is Sheelagh McCracken, Security Interests: Commentary and Cases ebook, Thomson Reuters, 2019.

The required case law and journal readings will be listed in the Reading Guide via the Canvas site.

There are a number of publications in relation to the Canadian and New Zealand legislation which are helpful and which are detailed in the Reading Guide. However, these texts should be read with care as there are differences between the Australian Act and its offshore progenitors.

Additional readings for particular sessions may be provided subsequently, where relevant.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. analyse the breadth of the concept of a security interest, as well as the manner in which a security interest under the Personal Property Securities Act 2009 may arise and be protected, afforded priority and enforced
LO2. apply the Personal Property Securities Act 2009 to common commercial transactions
LO3. evaluate the rationale and principles which inform the drafting of the Personal Property Securities Act 2009

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered, other than the addition of recent cases to the Reading Guide.

Additional information

Resources - Sydney Law Students

Disclaimer

Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

LAWS6956: Personal Property Securities

Intensive July - August, 2021 [Block mode] - Remote

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links