Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

On completion of this course, and towards satisfying the LACC specification for Banking and Finance Law (as reproduced at Annexure A), a student/participant will:

1. demonstrate an advanced and integrated understanding of a complex body of knowledge incorporating the legal framework and practical application of banking and finance law;

2. demonstrate mastery of theoretical knowledge of legal and ethical principles, issues, implications and risks, and a sound understanding of the context and methods applicable in conducting, and responding to, banking and finance transactions;

3. demonstrate current knowledge and cognitive abilities to advise a range of clients on legal aspects of banking and finance transactions relevant to:

a. investigating client requirements and financing options;

b. planning financing transactions;

c. documenting loans and securities,

d. effectively communicating benefits, risks and implications to clients;

e. pursuing due diligence; and

f. finalising banking and finance transactions, ensuring enforceability and best practice.

4. demonstrate technical legal and analytical competence, drafting and communication skills to draft and/or advise on banking and finance transactions documentation;

5. critically analyse and apply expert judgment by synthesising complex information in advising on ethical and commercial issues arising within a banking and finance transactional context and communicating that information to specialist and non-specialist audiences;

6. demonstrate cognitive skills to identify, contextualise and advise clients of their options through critical analysis of complex information, including legislative and regulatory requirements, to provide appropriate solutions for clients; and

7. research and apply appropriate methodologies, technical, legal and practical knowledge to autonomously develop solutions-focused strategies to a challenging set of facts and circumstances and interpret that information in  advising a range of clients.

Topics, teaching approaches, learning activities and assessment are designed to develop cognitive, technical and practical skills and knowledge to be able to:
a. draft and/or review loan and securities documents, and
b. advise on ethical issues, risk management and evaluation processes, arising in relation to banking and finance transactions.
The course will allow students/participants to engage in a problem-based client scenario for the purpose of advising on methodologies and options available to initiate, undertake, conduct and conclude a banking and finance transaction.

Indicative Assessment

2 x 500 word Discussion Forum Contributions (25%)
1 x 1000 word Critical Analysis memo/Draft Advice to Client (25%)
1 x 2000 word Draft Loan Agreement and/or Securities/Client Letter (50%)

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Workload

The course is conducted over 8 weeks with an expected average workload of 8-10 hours per week, including assessment activities.
This is a wholly online course. It will require continuous online participation throughout the course, as students will be required to participate in discussion forums and other activities in order to satisfy course completion requirements.

Requisite and Incompatibility

You will need to contact the ANU Legal Workshop to request a permission code to enrol in this course.

Prescribed Texts

• There are no prescribed text(s) for this course.

• The Wattle course site will contain a number of extracts of relevant materials and links to other resources.

Preliminary Reading

• An indicative list of reading materials includes:
Legislation/Regulations
o Corporations Act 2001 (Cth);
o Australian Securities and Investments Commission Act 2001 (Cth);
o Personal Property Securities Act 2009 (Cth);
o Uniform Commercial Code.
Key cases
Case citation relevant to each topic will be provided with the Topics on the course website.  Example cases include the following:
• O’Brien v Bank of Western Australia Ltd [2013] NSWCA 71;
• Commonwealth Bank of Australia v Shannon [2013] NSWSC 1076;
• Perpetual Trustee Co Ltd v Burniston (No 2) (2012) 271 FLR 122;
• Andrews v Australia and New Zealand Banking Group Ltd [2012] HCA 30;
• Paciocco v Australia and New Zealand Banking Group Ltd [2014] FCA 35;
• Choice Constructions Pty Ltd v Janceski (No 3) [2011] WASC 358.

Key articles and papers
• Craig Wappett and Angela Flannery, ‘Preservation and Suspension Clauses in Guarantees: when will they be effective?’ (2013) 24 The Journal of Banking and Finance Law and Practice 224, 224.
• Alan L Tyree and John Sheahan SC, ‘Fees and Penalties’ (2014) 25 The Journal of Banking and Finance Law and Practice 43, 43.
• Denise McGill and Nicola Howell, ‘Improving the ability of guarantors to make a real choice: Lenders’ practices in taking third party guarantees’ (2013) 24 The Journal of Banking and Finance Law and Practice 182, 182.
• Craig Wappett and Angela Flannery, ‘Personal Property Securities Act’ (2010) 21 The Journal of Banking and Finance Law and Practice 59, 59.
• Nicholas Mirzai, ‘The persistence of equitable doctrines with respect to the law relating to personal property securities: Assessing the impact of the Personal Property Securities Act 2009 (Cth)’ (2013) 24 The Journal of Banking and Finance Law and Practice 3, 3.
• Bruce Whittaker, ‘Retention of title clauses under the Personal Property Securities Act 2009 (Cth)’ (2010) 21 The Journal of Banking and Finance Law and Practice 273, 273.
• Bruce Whittaker, ‘Dealings in collateral under the Personal Property Securities Act 2009 (Cth) – in search of a “harmonious whole”’ (2013) 24  The Journal of Banking and Finance Law and Practice 203, 203.
• Craig Wappett and Angela Flannery, ‘Warning to Financiers – Register PPS security interests correctly or lose priority to collateral: Carson, In The Matter of Hastie Group Ltd (No 3) [2012] FCA 719’ (2012) 23 Journal of Banking and Finance Law and Practice 298, 298.
• Craig Wappett and Angela Flannery, ‘Taking Reasonable Care to Sell Mortgaged Property and the Use of ‘Mortgagee Sale’ in Advertising’ (2013) 24 The Journal of Banking and Finance Law and Practice 311, 311.
• Patrick Lowden and Andrew Booth, ‘Lender Liability – is there a duty of care to warn or guard against risk or loss?’ (2013) 24 The Journal of Banking and Finance Law and Practice 229, 229.
• Craig Wappett and Angela Flannery, ‘Securities and mortgages – Choice Constructions Pty Ltd v Janceski (no. 3) [2011] WASC 358’ (2012) 23 The Journal and Banking and Finance Law and Practice 150, 150.

Offerings, Dates and Class Summary Links