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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate an understanding of the legal and professional requirements pertaining to the asset based financing environment 
SAQA US ID UNIT STANDARD TITLE
12757  Demonstrate an understanding of the legal and professional requirements pertaining to the asset based financing environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03  12 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this Unit Standard know the basic legal background to the asset based financing environment and are able to apply this knowledge in specific asset based financing contexts. They also have a sense of ethics and morality and are able to conduct themselves in such a manner over an extended period of time. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
A person attempting this unit standard should have attained competence in mathematics, English and communication at NQF level 3. This unit will be required for many of the other units in the asset based financing environment. It is primarily intended to be a Knowledge based unit. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Evaluate the contractual capacity of a range of different trading entities based on the information. 
OUTCOME NOTES 
Evaluate the contractual capacity of a range of different trading entities based on the information available. 
OUTCOME RANGE 
Minors, persons married in and out of community of property, divorced persons, insolvent persons, the mentally incapacitated, alcoholics, drug addicts, sole proprietors, partnerships, close corporations, public companies, private companies, informal bodies such as churches, clubs, societies, non-profit organisations, trusts. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.The legislation relating to the entities is identified and located. 
ASSESSMENT CRITERION RANGE 
The Insolvency Act, The Close Corporations Act, the Companies Act, the Income Tax Act, the Age of Matrimony Act, the General Law Fourth Amendment Act, the Matrimonial Affairs Act, the Trust Act and the Deeds Act.
 

ASSESSMENT CRITERION 2 
2.The rules pertaining to each trading entity are differentiated through construction of comparative tables. 

ASSESSMENT CRITERION 3 
3.A decision is taken regarding the legality of a variety of case-study based contracts. 

SPECIFIC OUTCOME 2 
Evaluate a range of contract types and explain the implications thereof to the organization in Asset 
OUTCOME NOTES 
Evaluate a range of contract types and explain the implications thereof to the organization in Asset Based financing situations. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.The types of contracts are described in the context of the application. 
ASSESSMENT CRITERION RANGE 
Suretyships, cessions and pledges and bonds.
 

ASSESSMENT CRITERION 2 
2.The terminology relating to legal contracts is defined and explained within the context of the contract. 

ASSESSMENT CRITERION 3 
3.The implications of suretyship contracts are explained with practical examples. 

ASSESSMENT CRITERION 4 
4.The implications of cession and pledge contracts are explained with practical examples. 

ASSESSMENT CRITERION 5 
5.The implications of bond contracts are explained with practical examples. 

SPECIFIC OUTCOME 3 
Demonstrate an understanding of the regulations affecting the banking environment. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.Regulatory objectives, structures, principles, philosophy and historical perspectives are explained in the context of the asset based financing environment. 

ASSESSMENT CRITERION 2 
2.Statutory prescriptions affecting the banking sector are identified using case studies or real situations. 

ASSESSMENT CRITERION 3 
3.The basic principles of legislation affecting the asset based financing environment. 
ASSESSMENT CRITERION RANGE 
Companies Act, Close Corporation Act, Trusts Act, Income Tax Act, VAT Act, Credit Agreements Act, Usury Act, Stamp Duty Act, Exchange Control Act, Insolvency Act, Road Traffic Act) are explained in specific contexts.
 

ASSESSMENT CRITERION 4 
4.Legislation relevant to specific asset based financing situations is correctly identified and applied in specific work contexts. 

ASSESSMENT CRITERION 5 
5.The basic principles of compliance and the consequences of non-compliance with the legislation is explained in specific work contexts. 

SPECIFIC OUTCOME 4 
Demonstrate professional behaviour at work. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.An understanding of the principles and essential features of ethics is described in a banking context. 

ASSESSMENT CRITERION 2 
2.The basic principles of corporate governance as outlined in the King Report are explained with examples from the banking sector. 

ASSESSMENT CRITERION 3 
3.The principles of the professional standards are explained in terms of the Code of Banking Practice. 

ASSESSMENT CRITERION 4 
4.An understanding of the impact of fraud and corruption on the economy, on businesses and on individuals is demonstrated in the context of a banking environment. 

ASSESSMENT CRITERION 5 
5.Professional obligations are met in the work situation. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this Unit Standards shall be from the relevant education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.

The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Language, jargon and terminology relating to legal issues.
  • A sense of ethical and moral issues especially as they relate to both South Africa and to the banking environment. 
    		•


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
  • The learner is able to work effectively with others as a member of a team, group, organization or community to exert influence on moral and ethical issues. 
    		•

    UNIT STANDARD CCFO ORGANISING 
  • The learner is able to organize and manage oneself and one`s activities responsibly and effectively in order to demonstrate ethical behaviour. 
    		•

    UNIT STANDARD CCFO COMMUNICATING 
  • The learner is able to communicate effectively using visual, mathematical and / or language skills in the modes of oral and / or written persuasion when explaining legal concepts. 
    		•

    UNIT STANDARD CCFO SCIENCE 
  • The learner is able to use science and technology effectively as an information management tool to assist with the location and content of relevant legislation. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
  • The learner is able to demonstrate an understanding of the world as a set of interrelated systems by recognizing that problem-solving contexts do not exist in isolation, when considering the impact that ethical and moral issues have on business and society. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
  • LEGAL REQUIREMENTS

    The following Acts are relevant to this Unit Standard. The learner needs to know where to locate the Act and how to apply it in specific situations. Companies Act, Close Corporation Act, Trusts Act, Income Tax Act, VAT Act, Credit Agreements Act, Usury Act, Stamp Duty Act, Exchange Control Act, Insolvency Act, Road Traffic Act.
  • TERMINOLOGY
  • Legal terminology found in the identified legislation should be explained . 
    		•

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20184   National Certificate: Banking  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Chartall Business College 
    2. Fachs Business Consulting and Training 
    3. Octomate Education Pty Ltd 
    4. SIGNA ACADEMY (PTY) LTD 
    5. Trainers Without Borders 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.