• Offered by ANU Legal Workshop
  • ANU College ANU College of Law
  • Course subject Legal Practice
  • Areas of interest Law, Legal Practice
  • Academic career PGRD
  • Mode of delivery Online
  • Offered in Autumn Session 2017
    Winter Session 2017
    See Future Offerings
Banking and Finance Law is an elective course and an optional practice area within the ‘admission to practice’ component of the Master of Legal Practice (MLP).
This course is designed both for students who anticipate performing Banking and Finance work as an Australian legal practitioner and also for students seeking to extend their commercial legal knowledge, skills and values as prescribed for entry-level lawyers in Australia. Banking and Finance Law is especially valuable for transactional lawyering, as well as for the dispute resolution aspect of litigation lawyering. It is also relevant to community legal service and consumer advisory.
Within the MLP (admissions), this course complements the: 
• Commercial Practice component of the compulsory Professional Practice Core (PPC) course; and
• Consumer Law Practice elective/optional practice area.
By the end of this course, students should be able to demonstrate competence in: advising clients on some of the common ways to finance commercial transactions; drafting loan agreements and associated security documents, and taking the actions required to perfect those securities and ensure enforceability. 
The course will equip participants with the capacity to apply an advanced body of legal knowledge and principles in a range of contexts for professional practice in banking and finance.
 

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

To enrol in this course you must be studying a: Graduate Diploma of Legal Practice (6303XGDLP or 6312XGDLP) and completed or be completing LEGW8141. OR Master of Legal Practice (MLEGP) and completed or be completing LEGW8141.

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.

Fees

Tuition fees are for the academic year indicated at the top of the page.  

If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.

Student Contribution Band:
3
Unit value:
3 units

If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees.  Where there is a unit range displayed for this course, not all unit options below may be available.

Units EFTSL
3.00 0.06250
Domestic fee paying students
Year Fee
2017 $1147
International fee paying students
Year Fee
2017 $1503
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

Autumn Session

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
5566 03 Apr 2017 07 Apr 2017 14 Apr 2017 12 May 2017 Online N/A
Graduate Program
5790 29 May 2017 09 Jun 2017 09 Jun 2017 07 Jul 2017 Online N/A

Winter Session

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
6806 03 Jul 2017 07 Jul 2017 14 Jul 2017 11 Aug 2017 Online N/A

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions