NZQA registered unit standard
5146 version 6
Page 1 of 4
Title
Demonstrate knowledge of directing real estate entities under the
Companies Act 1993
Level
5
Purpose
Credits
5
This unit standard is for people who intend to operate as
directors in real estate companies.
People credited with this unit standard are able to:
–
describe the process and preparation of documentation
for registration of new real estate companies and their
constitution;
–
describe the company records which are required to be
maintained under the Companies Act 1993;
–
describe and apply the solvency test in given
circumstances; and
–
explain the directors’ obligations to shareholders.
Classification
Real Estate > Real Estate Management
Available grade
Achieved
Explanatory notes
1
References
Companies Act 1993;
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
Human Rights Act 1993;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Partnership Act 1908;
Privacy Act 1993;
Real Estate Agents Act 2008;
Real Estate Agents (Audit) Regulations 2009;
Real Estate Agents (Licensing) Regulations 2009;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definition
Common Law is also known as case law – judgements made by courts, rather than
laws written by parliament. Judgements relating to the duties of an ‘agent’ may be
applicable to this unit standard.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
5146 version 6
Page 2 of 4
3
Assessment
This unit standard will be assessed on the basis of evidence of demonstrated
performance in the workplace or in simulated work situations designed to draw upon
similar performance to that required in the workplace.
4
Solvency test is to be applied in a hypothetical balance sheet supplied by the
assessor.
Outcomes and evidence requirements
Outcome 1
Describe the process and preparation of documentation for registration of new real estate
companies and their constitution.
Evidence requirements
1.1
Registration documents are prepared and explained in terms of the process
required by the Companies Office.
1.2
Constitutional requirements of real estate companies are explained in terms of
the Companies Act 1993.
1.3
Licensing requirements for a company are explained in terms of the Real Estate
Agents (Licensing) Regulations 2009.
Range
mandatory, presumptive, voluntary.
Outcome 2
Describe the company records which are required to be maintained under the Companies
Act 1993.
Evidence requirements
2.1
Records required to be maintained are described in accordance with the
Companies Act 1993.
Range
includes but is not limited to – records for inspection, financial
assistance for purchase of shares, repurchase and redemption of
shares, directors’ interests in transactions, directors’ dealings in
company shares, alteration of shareholder rights.
Outcome 3
Describe and apply the solvency test in given circumstances.
Evidence requirements
3.1
Solvency tests are described in terms of the requirements of the Companies Act
1993.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
Range
3.2
5146 version 6
Page 3 of 4
Section 4 of the Companies Act 1993 requires companies
demonstrate both balance sheet and cashflow solvency before
and after distribution of dividends.
A solvency test is correctly applied to a provided balance sheet in terms of the
Companies Act 1993.
Outcome 4
Explain the directors’ obligations to shareholders.
Evidence requirements
4.1
Directors' obligations to shareholders are explained in terms of the Companies
Act 1993 and the Real Estate Agents Act 2008.
4.2
Disclosures to the shareholder are explained in terms of the requirements of the
Companies Act 1993.
includes but is not limited to – records for inspection, financial
assistance for purchase of shares, repurchase and redemption of
shares, directors’ interests in transactions, directors’ dealings in
company shares, alteration of shareholder rights.
Range
4.3
Shareholders' powers are explained in terms of exercising their powers through
meetings and resolutions in accordance with the Companies Act 1993.
Range
evidence is required of three examples.
Planned review date
31 December 2015
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
27 July 1995
31 December 2013
Revision
2
13 November 1997
31 December 2013
Review
3
19 January 1999
31 December 2013
Review
4
18 December 2006
31 December 2013
Review
5
12 February 2010
31 December 2013
Rollover and
Revision
6
16 August 2012
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
5146 version 6
Page 4 of 4
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact the ElectroTechnology Industry Training Organisation at
reviewcomments@etito.co.nz if you wish to suggest changes to the content of this unit
standard.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016