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 2025 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): ( 70327c Introduction to Property and Commercial Law OR ((94 credit points of completed study in spk(s): C04236 Juris Doctor OR 142 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration OR 94 credit points of completed study in spk(s): C04363 Juris Doctor Master of Intellectual Property OR 94 credit points of completed study in spk(s): C04364 Juris Doctor Graduate Certificate Trade Mark Law and Practice) AND 70106c Principles of Public International Law AND 70107c Principles of Company Law) OR (94 credit points of completed study in spk(s): C04320 Juris Doctor Graduate Certificate Professional Legal Practice AND 70106 Principles of Public International 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 and concentrates on the relationship 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. Consideration is also given to the products and services commonly offered by banks.
Students completing this subject develop an understanding of the key areas of banking law. This enables them to critically analyse current issues in Australian banking, contribute to an ongoing discussion of current developments in banking law and, building on their analysis 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 |
|---|---|
| 2. | Critically analyse the nature of the relationship between banker and customer |
| 3. | Identify and apply the fundamental legal principles relating to confidentiality 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:
a. The Australian colonial and post-colonial legal system, international and comparative contexts, theoretical and technical knowledge;
b. The broader contexts within which legal issues arise and the law operates including cultural awareness, social justice and policy;
c. The impact of Anglo-Australian laws on Indigenous peoples, including their historical origins in the process of colonisation and ongoing impact; and
d. The principles and values of justice and ethical practices in lawyers' roles. (LAW.1.1) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively, including the ability to:
a. Identify and articulate legal issues in context, including the skill of critical reading and writing;
b. Apply reasoning and research to generate appropriate responses;
c. Engage in critical analysis and make a reasoned choice amongst alternatives; and
d. Think creatively in approaching legal issues and generating appropriate responses. (LAW.3.1) - Communication
Effective and appropriate communication skills including:
a. Highly effective use of the English language to convey legal ideas and views to different and diverse audiences and environments;
b. An ability to communicate to inform, analyse, report and persuade;
c. An ability to strategically select an appropriate medium and message;
d. An ability to assess how messages are received and alter communication strategies accordingly; and
e. An ability to be responsive and adaptive to the perspectives of collaborators, clients, counter parties and others. (LAW.5.1) - Collaboration
Effective and appropriate collaboration skills in working together to achieve a common goal in a group learning environment or the workplace including:
a. An ability to give and receive feedback;
b. Appropriate professional and interpersonal skills in working collaboratively;
c. A capacity to develop strategies to successfully negotiate group challenges; and
d. An ability to be responsive and adaptive to the perspectives of collaborators, clients, counter parties and others. (LAW.6.1)
Teaching and learning strategies
Strategy 1:
Students complete assigned readings and other preparatory activities prior to attending classes. 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. They also engage in independent research and reflection following up on topics discussed in class and, in this way, integrate their learning in each topic.
Students should develop an understanding of the background to this subject and relevant current developments by reading the financial press daily or as often as possible. They are encouraged to initiate discussion of current developments with their class peers and within the seminar format.
Strategy 2:
Exploration and discussion of assigned readings and related issues will take place 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 enables students to practise 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.
Strategy 3:
Students receive early and ongoing feedback on their preparation and participation in seminars from the lecturer and also from peers who respond to their contribution. Guidance about the assessment criteria and feedback are an important part of the learning process in this subject. Individual feedback and consultation are provided on written items submitted for assessment. Feedback also comes from a student’s own reflections 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)
- Australian banking system
- Regulation of banking
- Banker and customer
- Duty of secrecy
- Lending, security and accounts
- Payment systems, clearing and settlement
- Licensing for financial services and credit
- Consumer banking
- Corporate banking
- Recent issues
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.1.1, LAW.3.1 and LAW.6.1 |
|---|---|
| Weight: | 20% |
| Length: | 500 words (nominal) |
| Criteria: |
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Assessment task 2: 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.1.1, LAW.3.1 and LAW.5.1 |
|---|---|
| Weight: | 30% |
| Length: | 1,500 words |
| Criteria: |
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Assessment task 3: Take-home problem
| 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.1.1, LAW.3.1 and LAW.5.1 |
|---|---|
| Weight: | 50% |
| Length: | 2000 words |
| Criteria: |
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Required texts
The prescribed text is Alan L. Tyree, Banking Law in Australia, 10th edn, LexisNexis, 2021.
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 specifically recommended, but see the list of relevant resources under the next heading.
Other resources
Banking
- Weaver G A and Craigie CR, The Law Relating to Banker and Customer in Australia, Web - Legal Online
- King & Wood Mallesons, Australian Finance Law, 7th edn, Thomson Reuters (Law Book) 2016
- Everett & McCracken, Banking & Financial Institutions Law, 9th edn, Thompson Reuters (Law Book) 2017
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