| Description |
1 online resource (x, 291 pages) |
| Bibliography |
Includes bibliographical references and index. |
| Contents |
Part 1. Bank-Customer Relationship and Account Opening -- Part 2. Banking Operations -- Part 3. Law Relating to Security -- Part 4. Insolvency. |
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Part 1. Bank-Customer Relationship and Account Opening -- 1. Contractual Relationships in Law and Practice -- Learning Objectives -- Introduction -- Definition of 'Customer' -- Nature of the Banker-Customer Relationship -- Banker and Customer -- Debtor and Creditor -- Principal and Agent -- Bailor and Bailee -- Laws and Practice -- Common Law -- Legislative Sources -- Statutory and Non-statutory Guidelines -- Code of Banking Practice -- Mandates -- Power of Attorney -- Types of Power of Attorney -- Rules in the Use of Power of Attorney -- Revocable and Irrevocable -- Enduring Power of Attorney -- Practical Considerations for Banks -- Limitation of Actions -- Two-year Limit -- Three-year Limit -- Six-year Limit -- Twelve-year Limit -- No Limit -- Extension of Period of Limitation -- Appropriation of Payments -- Rule in Clayton's Case -- Set-off -- No Right of Set-off -- Code of Banking Practice -- Banker's Lien -- Rights of Bank Asserting lien -- Matters Excluding Lien -- Banker's Duty of Secrecy -- Common Law Principle -- Exceptions to Duty of Secrecy -- Personal Data and Consumer Credit Data -- What is Personal Data? -- Collection of Data -- Data Protection Principles -- Use of Personal Data in Direct Marketing -- Code of Practice on Consumer Credit Data -- Statement of Account or Passbook -- Wrongful Dishonour of Cheques -- Article II -- Practical Considerations for Banks -- Breach of Contract and Libel -- Exemption Clauses -- Control of Exemption Clauses Ordinance -- Summary -- Key Terms -- Study Guide -- Further Reading -- 2. Opening and Conduct of Accounts -- Learning Objectives -- Introduction -- Opening of an Account -- Conduct of Account -- Monthly Statements -- Examination of Statements -- Practice Duty of Secrecy and Personal Privacy -- Practice Duty of Care -- Specific Issues Affecting the Operation of Accounts -- Closing of Account -- Closure of Account by Customer -- Closure of Account by Bank -- Opening and Conduct of Accounts for Various Customers -- Personal Customers -- Joint Customers -- Minors -- Executors and Administrators -- Trustees -- Sole Proprietors -- Partnership -- Unincorporated Associations, Clubs, and Societies -- Solicitors -- Incorporated Companies -- Definition of Different Types of Authorities -- Authority of Directors -- Registration of Charges -- Partnership Converted to a Limited Company -- Handling of Cheques of Limited Companies -- Anti-Money Laundering and Counter-Terrorist Financing -- Anti-Money Laundering -- The Money Laundering Process -- Legislation on Money Laundering -- Basic Policies and Principles to Combat Money Laundering -- Burden of Proof -- Power of Authorised Officers -- Bribery and Corruption -- Counter-Terrorist Financing -- Overview -- Summary -- Key Terms -- Study Guide -- Further Reading -- Part 2. Banking Operations -- 3. Bills of Exchange and Promissory Notes -- Learning Objectives -- Introduction -- Negotiable Instruments -- Role and Responsibilities of the Bank -- Bills of Exchange -- Parties to a Bill of Exchange -- Dating of a Bill of Exchange -- Signature on a Bill of Exchange -- Presentment for Acceptance -- Negotiation of a Bill -- Dishonour of a Bill -- Noting and Protesting -- Discharge of a Bill -- Promissory Notes -- Promissory Notes and Bills of Exchange -- Parties to a Promissory Note -- Negotiation of Promissory Notes -- Liability of the Maker -- Liability of the Indorser -- Summary -- Key Terms -- Study Guide -- Further Reading -- 4. Other Banking Operations -- Learning Objectives -- Introduction -- Credit Cards -- Parties to a Credit Card -- Legal Environment -- International Card Systems -- Code of Banking Practice -- Direct Debiting -- Standing Order -- Direct Debit -- Automated Teller Machines -- Legal Considerations -- Electronic Funds Transfer at the Point of Sale -- EPSCO Services -- Legal Considerations -- Investment Advice -- Legal Considerations -- Safe Custody -- Safe Facilities -- Contract of Bailment -- Other Banking Services -- Hire-Purchase -- Factoring -- Leasing -- Internet and Phone Banking -- Legal Considerations -- Electronic Transactions Ordinance -- Summary -- Key Terms -- Study Guide -- Further Reading -- Part 3. Law Relating to Security. |
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5. Guarantee -- Learning Objectives -- Introduction -- What is a Guarantee? -- Written and Oral Guarantee -- Guarantee and Indemnity -- Types of Guarantees -- Code of Banking Practice -- Undue Influence -- Legal Implications -- Execution of a Guarantee -- Guarantees by Minors -- Guarantees by Partnerships -- Corporate Guarantees -- Joint and Several Guarantees -- Special Problems -- Drafting a Joint and Several Guarantee -- Liability of Guarantors -- Conditional Guarantee -- Guarantee Limits -- Guarantor's Rights as Against the Creditor -- Guarantor's Rights as Against the Debtor -- Rights of Co-Guarantors -- Duties of the Creditor Bank -- Duty with Regard to Securities Held -- Duty to Explain -- Duty of Disclosure -- Discharge of the Guarantor -- Discharge by Payment, Agreement, or Expiry -- Avoidance of Guarantee -- Discharge by Conduct Prejudicial to Guarantor -- Termination -- Summary -- Key Terms -- Study Guide -- Further Reading -- 6. Mortgage of Land -- Learning Objectives -- Introduction -- Land in Hong Kong -- Tenure -- Estate -- Conveyancing and Property Ordinance -- Property -- Mortgages -- Legal Mortgage or Charge -- Equitable Mortgage -- Second Mortgage -- Code of Banking Practice -- Priorities -- Land Registration Ordinance -- Equitable Interests of Occupiers -- Rights of Mortgagee/Chargee -- Right to Possession of Title Deeds -- Right to Take Out Insurance -- Right to Sue -- Right to Possess the Property -- Power of Sale -- Right to Appoint Receiver -- Power to Foreclose -- Right to Consolidate -- Right to Tack -- Additional Remedies for Equitable Mortgagees -- Rights of Mortgagors/Chargors -- Right of Redemption -- Collateral Advantages -- Extortionate Money Lending Agreement -- 'Oppressive and Unconscionable' Terms -- Undue Influence or Misrepresentation -- Right of Disposition -- Right of Possession -- Right to Lease -- Discharge -- Summary -- Key Terms -- Study Guide -- Further Reading -- 7. Other Security Interests -- Learning Objectives -- Introduction -- Company Charge -- Fixed Charge -- Floating Charge -- Crystallization -- Priority of Charges -- Date of Creation -- Nature of the Charge -- Requirement to Register -- Validity of Charges in Winding-Up -- Chargee's Powers and Remedies -- Pledge -- Delivery of Possession -- General Letter of Pledge -- Trust Receipts -- Rights at Common Law -- Hypothecation -- Letter of Hypothecation -- Risk of Hypothecation -- Company Shares -- Quoted Shares as Security -- Unquoted Shares as Security -- Mortgage of Company Shares -- Mortgage of Shares Held by CCASS -- Powers and Remedies of Mortgagees -- Insurance Policies -- Life Assurance Policies -- Insurance Relating to Goods -- Creation of Security Interest -- Common Provisions of a Security Document -- Powers and Remedies of Mortgagees -- Release of Security -- Bankers' Lien -- Summary -- Key Terms -- Study Guide -- Further Reading -- Part 4. Insolvency -- 8. Bankruptcy -- Learning Objectives -- Introduction -- Bankruptcy -- Bankruptcy Petition -- Creditor's Petition -- Debtor's Petition -- Interim Receiver -- Bankruptcy Order -- Official Receiver -- Discharge From Bankruptcy -- Voluntary Arrangements -- Nominee -- Proposal -- Statement of Affairs -- Interim Order -- Nominee's Report -- Creditors' Meeting -- Approved Voluntary Arrangement -- Legal Issues for the Banker -- Creditor's Petition -- Bankruptcy Order -- Proof of Debt -- Set-Off -- Property Available for Payment -- Summary -- Key Terms -- Study Guide -- Further Reading -- 9. Winding Up -- Learning Objectives -- Introduction -- Winding Up -- Compulsory Winding Up -- Summary Procedure -- Regulating Order -- Grounds for Compulsory Winding Up -- Voluntary Winding Up -- Members' Voluntary Winding Up -- Creditors' Voluntary Winding Up -- Special Procedure for Voluntary Winding Up -- Petition for Winding Up -- The Liquidator -- Liquidator in Compulsory Winding Up -- Liquidator in Voluntary Winding Up -- Unregistered Companies -- Assets Available for Distribution -- Members' Liability to Contribute -- Directors' Liability to Contribute -- Liability of the Contributory -- Collection of the Company's Assets -- Ranking of Claims -- Preferential Payments -- Secured Creditors -- Unsecured Creditors -- Antecedent Transactions -- Fraudulent Preference -- Extortionate Credit Transactions -- Effect of Floating Charge -- Legal Issues for the Banker -- Commencement of Winding Up -- Court Validation Order -- Void Transactions Under Section 183 -- Set-Off and Contingent Liabilities -- Summary. |
| Summary |
"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"--EBL. |
| Subject |
Banking law -- China -- Hong Kong.
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Banks and banking -- China -- Hong Kong.
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Banking law |
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Banks and banking |
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China -- Hong Kong |
| Added Author |
Hong Kong Institute of Bankers.
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| Other Form: |
Print version: Banking Law and Practice. John Wiley & Son Ltd 2011 9780470827611 (OCoLC)704391849 |
| ISBN |
9780470827635 (electronic bk.) |
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0470827637 (electronic bk.) |
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9780470827642 (electronic bk.) |
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0470827645 (electronic bk.) |
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