Law of Financial Institutions and Services (7041.5)

Please note these are the 2016 details for this unit
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Law of Financial Institutions and Services
Available teaching periods Delivery mode Location
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EFTSL Credit points Faculty
0.125 3 Faculty Of Business, Government & Law
Discipline Study level HECS Bands
Canberra Law School Level 2 - Undergraduate Intermediate Unit Band 4 2021 (Commenced After 1 Jan 2021)
Band 4 2021 (Commenced After 1 Jan Social Work_Exclude 0905)
Band 5 2021 (Commenced Before 1 Jan 2021)
This unit provides students with an understanding of the law as it applies to the Australian financial system. Topics include (i) The regulatory mechanism - how banks and non bank financial institutions (NBFI) are regulated by Commonwealth and State laws; (ii) financial institutions and their customers - the nature of the relationship; the rights, duties and obligations of the parties; and, specifically, the law affecting lending and securities; (iii) the operation of the payment system - negotiability; bills of exchange; promissory notes; cheques; payment orders; electronic funds transfer system; (iv) the international dimension of financial transactions - forms settlement; foreign exchange; foreign investment.

Learning outcomes

On successful completion of this unit, students will be able to:
1. Understand the law regulating financial institutions in Australia and the relationship between financial institution and customer. Key skills which will be developed are the abilities to analyse factual problems and apply the law to resolve the issues and to critically analyse existing law and reform proposals from a legal and policy perspective.


Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - think globally about issues in their profession
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development


Skills development

Not Required



Prerequisites

4977 Introduction to Business Law OR 9523 Business Law & Ethics OR 11220 Business Law

Corequisites

None.

Assumed knowledge

None.
Year Location Teaching period Teaching start date Delivery mode Unit convener
Not available

Required texts

Lists of required texts/readings

Prescribed Texts

  • Alan Tyree, Banking Law in Australia (LexisNexis Butterworths, 8th ed, 2014)
  • Corporations Act 2001 (Cth) (Butterworths, 2018)

Recommended Texts

  • Alan Tyree & Prudence Weaver, Weerasooria's Banking Law and the Financial System in Australia (LexisNexis Butterworths, 6th ed, 2006)
  • R Baxt, A Black and P Hanrahan P, Securities and Financial Services Law (LexisNexis Butterworths, 9th ed, 2016)
  • Everett and McCracken, Banking & Financial Institutions Law, (Thomson Reuters, 9th ed, 2017)

Please check first for any readings provided from e-reserve on the Moodle site for this unit. Note particularly that in the first weeks of this unit additional materials will be provided by the lecturer via Moodle. Otherwise, unit readings and resources may be found by going to http://webpac.canberra.edu.au/screens/unitbooklist.html (for print materials) and https://docutek.canberra.edu.au/eres/courseindex.aspx?error=&page=search(for electronic materials) where these have been provided.  You may also access http://www.canberra.edu.au/library/research-gateway/databases.

Learner engagement

Not Required

Inclusion and engagement

Not Required

Participation requirements

Attendance for face to face students is expected for programmed activities. Contributions to face to face activities are an important measure for assessment of participation in this unit. The onus is upon individual students to contact the unit convener if they experience difficulties in participating.

Required IT skills

Required IT skills

Students must be sufficiently capable in the use of computers to undertake legal research on the internet, and to provide written assignments. All students should have e-mail communication with the lecturer and the Faculty. You are also expected to have or gain the ability to use Moodle.

In-unit costs

No additional text required

Work placement, internships or practicums

Not relevant in this unit

Additional information

Additional information

  • Where required, further details concerning information in this unit outline will be supplied via the Moodle site for this unit.
  • Notices given in class or via Moodle will be deemed to be given to the whole class.
  • It is not always practicable for lectures to be recorded. Details of lecture recording will appear in Moodle.
  • Your learning in this unit is supported by Moodle. Your use of Moodle can be monitored and reported to the unit convenor.