Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

Banking and finance law is an important area of legal practice. An understanding of the rights and obligations which arise through the use of the banking and financial system is appropriate in the post-graduate study of law, due to the scope, complexity and every-day relevance of the area. This area of law is subject to regular change and development.

Banks and non-bank financial institutions, which conduct these transactions, account for approximately two-thirds of the assets of Australian financial institutions. This unit concentrates on the transactional aspect of banking and finance law rather than the institutional aspect. Other financial institutions provide different fund management services including life insurance and superannuation, while some other financial institutions are concerned with broking, arranging advisory and other financial services. These are not dealt with in this unit.

Aims

The aim of this unit is to provide knowledge and understanding sufficient to resolve contemporary retail banking and finance issues.

Objectives

On completion of this unit, you will be able to -
(1) explain the legal basis of dealings between financial institutions and their clients;
(2) Explain the business background and objectives of the transactions to which the legal principles relate, which is crucial for an understanding of those principles;
(3) Critically discuss at an advanced level the aspects of banking and finance law considered in the unit;
(4) Critically evaluate the present process for alternative dispute resolution in relation to banking transactions;
(5) Conduct research at an advanced level and communicate findings in the appropriate written form.

Content

• Regulation of the Australian financial system


• Relationship of financial institution and customer. Payment mechanisms including electronic banking, cheques andmistaken payments.


• Commercial uses of bills of exchange


• Retail finance - overdrafts, credit cards, business finance


• Personal property securities


• Consumer protection- Electronic Funds Transfer Code of Practice, Code of Banking Practice and financial services external dispute resolution.

Approaches to Teaching and Learning

This unit is offered in the block mode and classes will take place for approximately 5 hours per day over 5 consecutive days.

Case studies will provide the focus of class discussion. The emphasis is on student responsibility for learning. You are required to prepare for each class by undertaking the prescribed reading, identifying key issues raised by the problem questions and forming preliminary views on those issues. You are then required to make an active contribution in the class discussion to be guided by the unit co-ordinator.

Class discussion will focus on application of the relevant principles and will be designed to encourage analysis and critical evaluation of those principles and an exchange of practical experiences.

Assessment

Assessment in this unit is both formative and summative.The unit co-ordinator will facilitate and provide feedback on the student-led discussion of the case studies considered in class to ensure accuracy of content and will summarise the conclusion on each issue.

Assessment name: Research Paper
Description: A research paper (approximately 5000 - 6000 words) to be submitted by the end of 8 weeks after the finish of block classes.

The research paper will deal with practical problems concerning banking and finance law that arise out of the areas of law covered in classes. You must identify and analyse legal issues raised by the problem questions and you must critically assess the current situation. You should then convey the results of your investigation in clear writing, observing legal citation standards and the rules of good English.
Relates to objectives: 1-5
Weight: 70%
Internal or external: Internal
Group or individual: Individual
Due date: 8 wks after Class

Assessment name: Discussion Forum
Description: Class participation measures your contribution to the group's discussions. The mark for the discussion forum includes considerations of your preparation for classes, your ability to actively listen to others, the quality of your contributions to the discussions and your ability to respond to questions.
Relates to objectives: The discussion forum is a method of demonstrating your achievement of objectives 1-4.
Weight: 30%
Internal or external: Internal
Group or individual: Individual
Due date: During Class

Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Texts

Tyree, AL Banking Law in Australia (7th ed) LexisNexis 2011

Prescribed Statutes

Australian Securities and Investments Commission Act 2001 (Cth)
Bills of Exchange Act 1909 (Cth)
Cheques Act 1986 (Cth)
Personal Property Securities Act 2009 (Cth)

References

Australian Banking and Finance Law, LexisNexis looseleaf service (to be published in October 2012)
Weaver and Craigie Banker and Customer Thomson Lawbook (looseleaf service)

Risk assessment statement

There are no out of the ordinar risks associated with this unit.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 16-Oct-2012