Subjects:

Australia, Other Jurisdictions

Contents:

The Australian Financial and Banking System

The Australian Payments and Settlements System

Cheques and Negotiable Instruments

New Developments in Australian Banking

The Banker: Customer Relationship

Banking Law and Criminal Law

Branch Banking and Bank Officials

The 6th edition of this well-established and highly regarded work now has a new authorial team. This updated text provides expanded coverage of the following areas: expansion of coverage by the Banking and Financial Services Ombudsman, particularly changes to the BFSO’s structure, name and terms of reference; extensive revision of the Code of Banking Practice, expanded to cover small business as well as personal customers and more detailed provisions in areas such as disclosure to guarantors; more in-depth discussion of electronic banking, electronic payments and, in particular, internet payments; and additional discussion of Informal Funds Transfers and ‘Hawala’ banking.

This work also covers all changes in the law since the previous edition — in particular, changes to the Corporations Act, Bankruptcy Act and the introduction of the Financial Services Reform legislation — as well as changes in the roles and functions of regulatory bodies such as the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC).

Also new to this work is a discussion of the Financial Action Task Force 40 + 9 recommendations on money laundering and counter-terrorist financing.