AI Overview
The book "Everett and McCracken's Banking and Financial Institutions Law" is a comprehensive legal text that provides an in-depth analysis of the Australian financial sector. Here is a detailed overview of the book:
Key Themes
Regulatory Framework: The book begins with a detailed examination of the regulatory framework in the Australian financial sector. This includes a discussion on the diversity of regulators and the multiplicity of regulatory regimes that govern banking and financial institutions.
Financing Transactions: The text advances a general framework for analyzing financing transactions. It focuses on contractual and property law concepts, particularly those complexities arising from the role of financial institutions and the intricate nature of their business and financial assets.
Payment Instruments and Security: The book provides a close analysis of the operation of payment instruments and modes of taking security. It covers various financing structures such as syndication, securitization, and subordination.
Statutory Concepts and Case Law: The 9th edition includes new analysis on statutory concepts like unconscionability and unfair contract terms, particularly in the context of recent bank fee litigation. It also discusses consumer credit legislation and the growing body of case law under the Personal Property Securities Act 2009 (Cth).
International and Domestic Focus: The book explores the current international and domestic focus on enhancing the resilience of key financial market infrastructure for central counterparties, securities settlement systems, and payment systems.
Plot Summary
The book does not have a narrative plot but rather a structured legal analysis. It is divided into sections that cover various aspects of banking and financial institutions law, including regulatory frameworks, financing transactions, payment instruments, and statutory concepts. The text is designed to provide a comprehensive understanding of the legal principles and concepts that govern the Australian financial sector.
Critical Reception
While specific reviews are not provided in the sources, the book's comprehensive coverage and detailed analysis suggest it is a valuable resource for legal professionals and students in the field of banking and financial law. The fact that it has been closely reviewed and fully updated to reflect changes introduced by legislation, market rules, and case law since the last edition in 2013 indicates its relevance and reliability.
Authors
The book is written by a team of experts in the field of banking and financial law, including Sheelagh McCracken, John Stumbles, GJ Tolhurst, Olivia Dixon, and others. The authors bring extensive knowledge and experience to the subject matter, ensuring that the text is both authoritative and up-to-date.
In summary, "Everett and McCracken's Banking and Financial Institutions Law" is a seminal work in the field of Australian banking and financial law, offering a broad and detailed analysis of the legal concepts and principles that govern the sector. Its comprehensive coverage and expert authorship make it a critical resource for legal professionals and students alike.