LAW7092 - Payment systems and banking law

Leader: Mr Rhys Bollen

Offered

City (Melbourne) Trimester 1 2008 (On-campus block of classes)
City (Melbourne) Trimester 3 2008 (On-campus block of classes)

Synopsis

This subject covers selected legal and policy issues arising from banking and payment services. The emphasis of this subject is on e-payments and e-value transfers, and these shall be evaluated in different contexts including the legal, policy, technological and business contexts. E-commerce and m-commerce issues arising in relation to e-payments shall also be covered. Several systemic, analytical and legal issues will be covered, including the evolution of payment concepts, the irrevocability of payment instructions, consumer protection relevant to the use of such value transfers. This shall be put in the context of the Australian regime for regulating banking services generally.

Objectives

Teaching Objectives are:

1. to provide an introduction to retail and wholesale payment systems in general,
2. to provide an introduction to electronic payment and electronic value transfer systems technology and operations,
3. to provide an introduction to the issues, policy, laws, regulations and other of sources electronic payment and electronic value transfer systems,
4. to identify the practical and legal risks posed by electronic payment and electronic value transfer systems,
5. to provide a context for the informed evaluation of the legal response adopted for the redressing of such risks,
6. to provide an overview of the regulation of banking services. Learning Objectives are:
7. general understanding of contemporary and developing payment systems and products,
8. competent identification and understanding of the legal issues raised by the provision and use of electronic payment or electronic value transfer systems,
9. fostering of critical insight and analysis in relation to electronic payment and electronic value transfer systems issues and developments,
10. familiarization with legislative or regulatory sources of banking, payment and value transfer systems policy and technological development,
11. awareness of, and ability to evaluate the factors influencing the policy and regulation of electronic payment and electronic value transfer systems,
12. provision of a basis for the competent comparative analysis and critiquing of regional and international electronic payment and electronic value transfer systems.

Assessment

The assessment of this subject shall be by means of class participation (including one class presentation) and one written presentation (1,500 words) worth 20%, and one research assignment (6,000 words) worth 80%.

Contact hours

Intensive: 24 hours over 4 days