LAW4104 - Australian banking law - 2017

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.



Not offered in 2017


The banking and finance sectors in Australia play an essential role in society. This industry continues to evolve and adapt to technological disruption, product innovation, and the increasing globalization of financial markets. It is also facing increasing scrutiny from policy makers, regulators and consumers following a series of crises and scandals. This course will review and consider key areas of Australian banking law and regulation. It will also discuss some of the areas of ongoing policy reform.

Core topics will include:

  1. an outline of the banking system and its regulation and associated legal framework
  2. the banker-customer relation, and duties and obligations of the parties
  3. types of bank transactions and the actions available in relation to them
  4. negotiable instruments and their purposes and uses
  5. electronic banking
  6. consumer protection
  7. secured and unsecured lending.


At the successful completion of this unit, students will:

  1. have acquired a basic understanding of the operation of the Australian banking system
  2. be familiar with the general principles of law governing the Australian payments system and negotiable instruments
  3. appreciate the legal relationship that exists between customers and their banks and the duties owed by each to the other
  4. understand the day to day issues that can arise between banks and customers
  5. be familiar with the financial industry ombudsman system and its role in the mediation of banker-customer disputes
  6. have acquired analytical tools relevant to solving problems arising out of the application of statute and case-law to specific banker-customer transactions
  7. be aware of emerging trends in bankers' liability especially the impact of consumer protection legislation to banking business
  8. be able to identify the legal issues respecting the lending practices of banks.


Compulsory Assignment (max 2000 words) 40%


Open book Examination (2 hours plus 30 minutes reading and noting time) 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)


For students who commenced their LLB (Hons) course in 2015 or later: LAW1111;

LAW1114; LAW2101; LAW1112; LAW1113; LAW2102; LAW2111; LAW2112; LAW3112.

For students who commenced their LLB course prior to 2015: LAW1100 OR LAW1101 and LAW1102 or LAW1104; LAW2100 or LAW2101 and LAW2102; LAW3112