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Banking Law and Practice

Book Description

A solid understanding of how banks operate is crucial to grasp the functioning of modern society. Banks are an intrinsic part of business, finance, and everyday life. Modern banking is regulated by a sophisticated set of laws and regulations that are constantly evolving. Banking Law and Practice from the Hong Kong Institute of Bankers outlines and explains these laws and regulations clearly and in detail.

This regulatory framework has a deep impact on banks, bankers, and anyone that deals with them, which is the overwhelming majority of society. This high level of impact makes Banking Law and Practice an important book as well as a necessary and authoritative reference for industry professionals, students, and the public at large.

Banking Law and Practice discusses a range of topics that have a direct bearing on the day-to-day operations of banks, from contracts to how to ensure safe and secure lending. It examines the development and current state of banking legislation and regulation and facilitates bankers and their institutions to shape their practice to meet all the necessary legal and regulatory requirements.

Students, industry professionals, and the public at large will welcome the thorough and clear explanations of the legal and regulatory framework in which banks operate. This book is essential reading for candidates studying for the HKIB Associateship Examination and anyone else seeking expert knowledge of the legal and regulatory structure affecting banks in Hong Kong.

Topics covered in this book include:

  • Contractual Relationships

  • Code of Banking Practice

  • Money Laundering

  • Negotiable Instruments

  • Law Related to Securities

  • Bankruptcy and Insolvency

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Preface
  6. Part 1: Bank-Customer Relationship and Account Opening
    1. Chapter 1: Contractual Relationships in Law and Practice
      1. Introduction
      2. Definition of ‘Customer’
      3. Nature of the Banker-Customer Relationship
      4. Laws and Practice
      5. Mandates
      6. Power of Attorney
      7. Limitation of Actions
      8. Appropriation of Payments
      9. Set-off
      10. Banker’s Lien
      11. Banker’s Duty of Secrecy
      12. Personal Data and Consumer Credit Data
      13. Statement of Account or Passbook
      14. Wrongful Dishonour of Cheques
      15. Exemption Clauses
      16. Summary
      17. Key Terms
      18. Study Guide
      19. Further Reading
    2. Chapter 2: Opening and Conduct of Accounts
      1. Introduction
      2. Opening of an Account
      3. Conduct of Account
      4. Closing of Account
      5. Opening and Conduct of Accounts for Various Customers
      6. Definition of Different Types of Authorities
      7. Anti-Money Laundering and Counter-Terrorist Financing
      8. Summary
      9. Key Terms
      10. Study Guide
      11. Further Reading
  7. Part 2: Banking Operations
    1. Chapter 3: Bills of Exchange and Promissory Notes
      1. Introduction
      2. Negotiable Instruments
      3. Bills of Exchange
      4. Promissory Notes
      5. Summary
      6. Key Terms
      7. Study Guide
      8. Further Reading
    2. Chapter 4: Other Banking Operations
      1. Introduction
      2. Credit Cards
      3. Direct Debiting
      4. Automated Teller Machines
      5. Electronic Funds Transfer at the Point of Sale
      6. Investment Advice
      7. Safe Custody
      8. Other Banking Services
      9. Internet and Phone Banking
      10. Summary
      11. Key Terms
      12. Study Guide
      13. Further Reading
  8. Part 3: Law Relating To Security
    1. Chapter 5: Guarantee
      1. Introduction
      2. What is a Guarantee?
      3. Undue Influence
      4. Guarantees by Minors
      5. Guarantees by Partnerships
      6. Corporate Guarantees
      7. Joint and Several Guarantees
      8. Liability of Guarantors
      9. Guarantor’s Rights as Against the Creditor
      10. Guarantor’s Rights as Against the Debtor
      11. Rights of Co-Guarantors
      12. Duties of the Creditor Bank
      13. Discharge of the Guarantor
      14. Summary
      15. Key Terms
      16. Study Guide
      17. Further Reading
    2. Chapter 6: Mortgage of Land
      1. Introduction
      2. Land in Hong Kong
      3. Mortgages
      4. Priorities
      5. Rights of Mortgagee/Chargee
      6. Rights of Mortgagors/Chargors
      7. Discharge
      8. Summary
      9. Key Terms
      10. Study Guide
      11. Further Reading
    3. Chapter 7: Other Security Interests
      1. Introduction
      2. Company Charge
      3. Pledge
      4. Hypothecation
      5. Company Shares
      6. Insurance Policies
      7. Bankers’ Lien
      8. Summary
      9. Key Terms
      10. Study Guide
      11. Further Reading
  9. Part 4: Insolvency
    1. Chapter 8: Bankruptcy
      1. Introduction
      2. Bankruptcy
      3. Bankruptcy Order
      4. Discharge From Bankruptcy
      5. Voluntary Arrangements
      6. Legal Issues for the Banker
      7. Summary
      8. Key Terms
      9. Study Guide
      10. Further Reading
    2. Chapter 9: Winding Up
      1. Introduction
      2. Winding Up
      3. Compulsory Winding Up
      4. Voluntary Winding Up
      5. Petition for Winding Up
      6. The Liquidator
      7. Unregistered Companies
      8. Assets Available for Distribution
      9. Ranking of Claims
      10. Antecedent Transactions
      11. Legal Issues for the Banker
      12. Summary
      13. Key Terms
      14. Study Guide
      15. Further Reading
  10. Index