Unit of competency Outline

Date retreived
22/07/2026 6:28 PM AWST

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Make decisions in a legal context

Make decisions in a legal context

Unit of competency
National Code
FNSACC413
State Code
BBH99
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
091103 - Legal Studies
Original Release Date
09/05/2018
Nominal Hours
60
Description
This unit describes the skills and knowledge required to make decisions, particularly those relating to compliance issues, in a legal context. It is intended to satisfy the requirement for a course of study in commercial law at an introductory or foundation level, covering Australian legal systems and processes.It applies to individuals who, within the scope of own responsibility, use specialised knowledge to make decisions that require consideration of the legal context.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Examine legal context of financial services work
  • 1.1 Identify key features of Australian legal systems and processes relating to own role
  • 1.2 Identify functions of courts and other regulatory bodies relating to own role
  • 1.3 Analyse implications of related legislation, regulations and legal precedents for operational decisions, and apply findings in decision-making process
  • 1.4 Seek advice and guidance to evaluate and moderate decision-making processes
2. Identify compliance requirements of financial services work
  • 2.1 Interpret compliance requirements of own financial services work, and confirm interpretation with authoritative source relating to own role
  • 2.2 Review legislative and regulatory sources of information to identify changes to compliance requirements
  • 2.3 Analyse impact of changes to compliance requirements on business operations, policies and procedures
3. Develop compliance procedures
  • 3.1 Develop procedures in consultation with others to address compliance requirements
  • 3.2 Establish timeframes to meet compliance requirements to align with statutory deadlines
No information
No information
Replaces
State Code National Code Title Type
AUW96 FNSACC403 Make decisions in a legal context Unit of competency