Sometimes it will just be given because you're only a few points off passing. I think 45-46 is the limit though. Anything below that and you fail.
Otherwise, some courses may have it that if you fail one subject but your other marks for your other courses are all considerably higher, you could still pass.
I think that there is some algorithm that they use. It is based on the WAM that you obtain in your other courses. Basically, if your WAM is higher, they will give you a conceded pass at a lower mark. I think about 45 is the limit in any case.
Depends on your lecturers too, some might explicitly state that if you fail the finals (whatever that mark may be), you will fail the course no questions.