77715 Banking Law
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2021 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): ( 70327c Introduction to Property and Commercial Law OR (142 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration AND 70106c Principles of Public International Law AND 70107c Principles of Company Law))
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
This subject provides students with an understanding of the regulation of banking institutions in Australia following deregulation and concentrates on relations between banking institutions and their customers. Students explore a historical introduction to the law relating to banking and to relevant principles; the regulatory framework within which banking institutions operate; and the activities of banking institutions, including consumer, electronic and corporate banking, and negotiable instruments. Consideration is also given to the wide range of services currently offered by a number of institutions, including trading banks.
Students completing this subject develop a working understanding of the key areas of banking law nationally that enables them to critically analyse current issues in Australian banking. Students also contribute to an ongoing discussion of current developments in banking law and, building on their collaborative analyses of banking law, evaluate developments in the industry. Students' learning in this subject emphasises the collaborative context within which banking law operates.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Identify, evaluate and synthesise the key concepts of Australian banking law and regulation |
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| 2. | Critically analyse the nature of the relationship between banker and customer |
| 3. | Identify and apply the fundamental legal principles relating to confidentially and privacy |
| 4. | Communicate in a clear, logical and succinct manner contributing informed viewpoints and respond appropriately to the contributions of peers |
| 5. | Demonstrate critical and analytical legal skills |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following graduate attributes which reflect the course intended learning outcomes:
- Legal Knowledge
A coherent understanding of fundamental areas of legal knowledge, including the Australian legal system, social justice, cultural and international contexts and the principles and values of ethical practice (LAW.1.0) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively, including an ability to identify and articulate legal issues, apply reasoning and research, engage in critical analysis and make reasoned choices (LAW.3.0) - Communication and Collaboration
Effective and appropriate communication skills, including highly effective use of the English language, an ability to inform, analyse, report and persuade using an appropriate medium and message and an ability to respond appropriately (LAW.5.0)
Teaching and learning strategies
Strategy 1 Student preparation
Students complete assigned readings and other preparatory activities prior to attending class. The Program (below) provides subject sources that students should view, listen to or read and reflect upon. Preparation enables students to engage in class discussion and to ask questions of the lecturer. Students also engage in independent research and reflection following up on topics discussed in class and, in this way, integrating their learning in each topic.
Students also develop an understanding of the background to this subject and relevant current developments by reading the financial press daily – or as often as possible. Students are encouraged to initiate discussion of current developments with their class peers.
Strategy 2: Seminar discussion
Exploration and discussion of assigned readings and related ideas will take place in each seminar and students will be encouraged to ask questions whenever the territory seems unfamiliar. Collaborative discussion greatly facilitates individual learning, not only by students but also by the lecturer. Students will receive feedback in class on their participation. Analytical skills developed through class discussions also enable students to practice and get feedback on their preparation of responses similar to the take-home problem. Interactive seminars provide an opportunity for students to build on their independent study and critically explore, analyse and reflect on a range of relevant issues as well as develop and evaluate their own policy and regulatory positions. Discussion of potential and developing essay topics will enable students to gain valuable feedback from their e teacher and colleagues, developing that solutions through collaborative exchanges.
Strategy 3: Feedback
Students receive early and ongoing feedback on their preparation and participation in seminars from the teacher and also from peers who respond to their contributions. In addition, individual formative feedback is provided on students’ seminar participation. Detailed guidance about the assessment criteria and feedback are an important part of the learning process in this subject. Individual feedback and consultation is provided on the preparation of research essay outlines and essay development. Feedback also comes from a student’s own reflection on their performance with reference to the subject objectives and assessment criteria.
Subject delivery
This subject involves weekly 3 hour face to face seminars.
Content (topics)
- Banks and Financial Institutions
- Regulation of Banking
- The Banker –Customer Relationship
- The Banker’s Duty of Confidentiality and Privacy
- Licensing for Financial Services and Credit
- Consumer Banking
- Electronic Banking
- Corporate Banking
- Negotiable Instruments
- Recent issues in Banking.
- The current account and Taking security
Assessment
Assessment task 1: Class Participation
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3, 4 and 5 This task contributes specifically to the development of the following graduate attributes: LAW.1.0, LAW.3.0 and LAW.5.0 |
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| Weight: | 20% |
| Length: | 1000 words (nominal) |
| Criteria: |
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Assessment task 2: Take-home Problem Paper
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3, 4 and 5 This task contributes specifically to the development of the following graduate attributes: LAW.1.0, LAW.3.0 and LAW.5.0 |
|---|---|
| Weight: | 30% |
| Length: | 1,500 words |
| Criteria: |
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Assessment task 3: Essay Outline and Essay
| Objective(s): | This task addresses the following subject learning objectives: 1, 2 and 5 This task contributes specifically to the development of the following graduate attributes: LAW.1.0, LAW.3.0 and LAW.5.0 |
|---|---|
| Weight: | 50% |
| Length: | Outline 500 words; Essay 2000 words |
| Criteria: |
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Required texts
The prescribed text is PM Weaver, Banking and Lending Practice, 5th edn, Thomson Reuters (Lawbook), 2016.
Essential Materials:
- UTS Law Faculty Guide to Essay Writing (www.law.uts.edu.a u/students/assessment/submitting.html)
- UTS Coursework Assessment Policy and Procedure Manual (http://www.gsu.uts.edu.au/policies/coursewkassess.html)
Recommended texts
No other texts are specially recommended, but see the list of relevant resources under the next heading.
Other resources
Banking
- King & Wood Mallesons, Australian Finance Law, 7th edn, Lawbook Thomson Reuters 2016
- Everett & McCracken, Banking & Financial Institutions Law, 9th edn, Thompson Reuters (Lawbook) 2017
- Tyree, AL, Banking Law in Australia, 9th edn, LexisNexis, 2017
- Weaver G A and Craigie CR, The Law Relating to Banker and Customer in Australia, Web - Legal Online
Background Sources
- A wide range of material on this subject is available on the internet.
- Web-sites of major institutions and organisations discussed in class are particularly recommended and are easily located.
- Other useful individual sites include: www.aph.gov.au and www.ausbanking.org.au
- The final report of the Royal Commission into misconduct in the banking, superannuation and financial services industry together with a number of useful background papers can be accessed at financial services.royal commission.gov.au
- The APRA site is at www.apra.gov.au
- The ASIC site is at www.asic.gov.au
- The RBA site is at www.rba.gov.au - for the payments system go on to /paymentssytsem.
- There are many sites with reference to anti-money-laundering; see for example www.austrac.gov.au
- The sites of many leading law firms are also worth investigation; see for example www.aar.com.au or www.kwm.com/en/au