C6-Law for Tax Practitioners

C6-LAW FOR TAX PRACTITIONERS

This Paper introduces students to general principles of Law as it applies to the field of taxation. Students are introduced to topics like the general administration of law, law of contract, law of agency, banking and labour law.

Objective

On completion of this subject, the student should be able to:

1. Explain and articulate the general principles of law
2. Explain and apply the law of contract
3. Explain and apply Banking Law
4. Explain the law governing the sale of goods
5. Explain the law of Agency
6. Explain Partnership Law
7. Explain Company Law

Structure of the examination paper

There shall be a three hour examination consisting of five (5) compulsory questions of twenty (20) marks each. Candidates will be allowed fifteen minutes’ reading and planning time.

Detailed Syllabus

• UNIT 1 - GENERAL PRINCIPLES OF LAW

• Element 1: Sources of Zambian Law
• Element 2: Elementary Principles of the divisions of legislative powers between the three tiers of government, with complimentary provisions in Constitution of the Republic of Zambia.
• Element 3: Equity and Common Law
• Element 4: Statute law
• Element 5: The process of legislation and interpretation of statutes
• Element 6: The doctrine of precedent

• UNIT 2 - THE ADMINISTRATION OF LAW

• Element 1: The organization and function of the various courts
• Element 2: The judges and various officers concerned with the administration of law in Zambia. Distinction between civil and criminal liability
• Element 3: The basis and extent of liability in Tort – Remedies, Legal, and Equitable, for Tort.
• Element 4: Differences between real and personal property Element 5: Various interests in property
• Element 6: Legal persons, corporate personality Element 7: The doctrine of Ultra Vires

• UNIT 3 - LAW OF CONTRACT

• Element 1: Nature of Contract
• Element 2: Essentials of a valid contract
• Element 3: Consideration
• Element 4: Privity of contract
• Element 6: Capacity for contract
• Element 7: Effects of mistakes, misrepresentation and illegal contracts.
• Element 8: Remedies for contracts

• UNIT 4 - LAW OF AGENCY

• Element 1: Creation of Agency
• Element 2: Effects of the acts of the agent
• Element 3: Duties of principal agent and vice versa and as they affect the third party interest.
• Element 4: Forms of agency
• Element 5: Termination of contract
• Element 6: Breach of Agency

• UNIT 5 - SALE OF GOODS

• Element 1: Remedies and obligations of buyers and sellers
• Element 2: Valid transfer of property by owner and non-owner
• Element 3: Duties and liabilities of carriers
• Element 4: Remedies and obligations of carriers
• Element 5: Stoppage in transit

• UNIT 6 - HIRE PURCHASE, CREDIT SALES AND LEASING

• Element 1: Nature of Hire Purchase contracts
• Element 2: Distinction between Hire Purchase and Instalment Purchases
• Element 3: Rights and obligations of Hire Purchases sellers and buyer
• Element 4: Right of Possession.
• Element 5: Issues of credit sales
• Element 6: Various aspects of leasing and the enabling law.

• UNIT 7 - BANKING LAW

• Element 1: Types of negotiable instruments
• Element 2: Requirements of negotiability
• Element 3: Ambiguity rule
• Element 4: Negotiation
• Element 5: Types of endorsement
• Element 6: Real and personal defences of makers against holders in due course
• Element 7: Liabilities of parties and warranties
• Element 8: Dishonour and Protest
• Element 9: Discharge Element 10: Certificate Cheques
• Element 11: Bill of Exchanges Element 12: Promissory notes
• Element 13: Surety ship and Guarantee
• Element 14: Defences of a surety
• Element 15: Right and remedies available to surety

• UNIT 8 - COMPANY LAW

• Element 1: Nature and types of companies
• Element 2: Formation of companies in Zambia
• Element 3: Memorandum and articles of Association Prospectus
• Element 4: Capital – shares and debentures
• Element 5: Members’ meetings and resolutions
• Element 6: Directors, secretary, auditors, statutory books, profits available for distribution, holding and subsidiary companies
• Element 7: Powers and duties of liquidators
• Element 8: Secretarial practice

• UNIT 9 - PARTNERSHIP LAW

• Element 1: Nature and types of Partnership
• Element 2: The Limited Partnership
• Element 3: The Partnership Deed
• Element 4: Partnership amongst partners
• Element 5: Inter-relationships between partners and third parties
• Element 6: Dissolution of partnership
• Element 7: Joint ventures
• Element 8: Drawing distinction with general partnership

• UNIT 10 - BANKRUPTCY LAW

• Element 1: Issue of receivership - composition and schemes of arrangement Adjudication and discharge
• Element 2: Appointment and powers of official receiver and trustees
• Element 3: Determination of property
• Element 4: Priority of eventual distribution
• Element 5: Proof of debt
• Element 6: Statements of affairs and deficiency account.

• UNIT 11 - INSURANCE LAW

• Element 1: Elementary principles of insurance – insurable interest, utmost good faith, indemnity, misrepresentation, conditions and warranties
• Element 2: Subrogation and contribution
• Element 3: Assignment of policies
• Element 4: Government control of insurance business.
• Element 5: General Insurance Law
• Element 6: Life Assurance Law
• Element 7: International Insurance Companies

• UNIT 12 LABOUR LAW

• Element 1: General principles of labour law
• Element 2: Workmen Compensation Act
• Element 3: Trade Union Act., National Industrial Court
• Element 4: Formation of contract for labour, express and implied terms, determination of employment, remedies for unlawful dismissal, termination

4.2 Diploma in Taxation Course Structure

• D1 Business Information Management
• D2 Financial Management
• D3 Business Taxation
• D4 Personal Taxation
• D5 International Taxation
• D6 Tax Audit And Investigations

A ZICA Diploma in Taxation is acquired upon successful completion of the course