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Banking Law and Practice

Banking Law and Practice

  • Author:
  • Publisher: John Wiley & Sons_
  • ISBN: 9780470827611
  • Published In: September 2012
  • Format: Paperback , 256 pages
  • Jurisdiction: U.S. ? Disclaimer:
    Countri(es) stated herein are used as reference only
HKD 500.00
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  • Description 
  • Contents 
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    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
  • Preface ix


    1 Contractual Relationships in Law and Practice 3

    Learning Objectives 3

    Introduction 4

    Definition of ‘Customer’ 4

    Nature of the Banker-Customer Relationship 5

    Laws and Practice 7

    Mandates 9

    Power of Attorney 11

    Limitation of Actions 14

    Appropriation of Payments 15

    Set-off 17

    Banker’s Lien 20

    Banker’s Duty of Secrecy 21

    Personal Data and Consumer Credit Data 28

    Statement of Account or Passbook 33

    Wrongful Dishonour of Cheques 34

    Exemption Clauses 36

    Summary 37

    Key Terms 38

    Study Guide 39

    Further Reading 39

    2 Opening and Conduct of Accounts 41

    Learning Objectives 41

    Introduction 42

    Opening of an Account 42

    Conduct of Account 44

    Closing of Account 51

    Opening and Conduct of Accounts for Various Customers 52

    Defi nition of Different Types of Authorities 82

    Anti-Money Laundering and Counter-Terrorist Financing 85

    Summary 98

    Key Terms 99

    Study Guide 100

    Further Reading 100


    3 Bills of Exchange and Promissory Notes 103

    Learning Objectives 103

    Introduction 104

    Negotiable Instruments 104

    Bills of Exchange 107

    Promissory Notes 124

    Summary 127

    Key Terms 128

    Study Guide 128

    Further Reading 129

    4 Other Banking Operations 131

    Learning Objectives 131

    Introduction 132

    Credit Cards 132

    Direct Debiting 138

    Automated Teller Machines 141

    Electronic Funds Transfer at the Point of Sale 143

    Investment Advice 144

    Safe Custody 146

    Other Banking Services 150

    Internet and Phone Banking 152

    Summary 154

    Key Terms 156

    Study Guide 156

    Further Reading 157


    5 Guarantee 161

    Learning Objectives 161

    Introduction 162

    What is a Guarantee? 162

    Undue Infl uence 165

    Guarantees by Minors 166

    Guarantees by Partnerships 167

    Corporate Guarantees 168

    Joint and Several Guarantees 168

    Liability of Guarantors 170

    Guarantor’s Rights as Against the Creditor 172

    Guarantor’s Rights as Against the Debtor 173

    Rights of Co-Guarantors 174

    Duties of the Creditor Bank 175

    Discharge of the Guarantor 176

    Summary 180

    Key Terms 181

    Study Guide 182

    Further Reading 182

    6 Mortgage of Land 183

    Learning Objectives 183

    Introduction 184

    Land in Hong Kong 184

    Mortgages 187

    Priorities 192

    Rights of Mortgagee/Chargee 195

    Rights of Mortgagors/Chargors 201

    Discharge 205

    Summary 205

    Key Terms 206

    Study Guide 207

    Further Reading 207

    7 Other Security Interests 209

    Learning Objectives 209

    Introduction 210

    Company Charge 210

    Pledge 218

    Hypothecation 222

    Company Shares 224

    Insurance Policies 229

    Bankers’ Lien 235

    Summary 236

    Key Terms 237

    Study Guide 237

    Further Reading 238


    8 Bankruptcy 241

    Learning Objectives 241

    Introduction 242

    Bankruptcy 242

    Bankruptcy Order 244

    Discharge From Bankruptcy 248

    Voluntary Arrangements 248

    Legal Issues for the Banker 250

    Summary 254

    Key Terms 256

    Study Guide 256

    Further Reading 256

    9 Winding Up 257

    Learning Objectives 257

    Introduction 258

    Winding Up 258

    Compulsory Winding Up 259

    Voluntary Winding Up 262

    Petition for Winding Up 265

    The Liquidator 265

    Unregistered Companies 271

    Assets Available for Distribution 271

    Ranking of Claims 274

    Antecedent Transactions 276

    Legal Issues for the Banker 278

    Summary 282

    Key Terms 283

    Study Guide 283

    Further Reading 284

    Index 285

  • China Construction Bank (Asia) Corporation Limited ["CCB (Asia)"] is honored to sponsor the publishing of Banking Law and Practice by the HKIB. CCB (Asia) is a wholly owned subsidiary of China Construction Bank Corporation ["CCB"], the world's second largest listed bank by market capitalization as of December 31, 2011. CCB (Asia) offers consumer, retail, commercial, and private banking with an extensive range of professional services for customers.

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