Banking & Finance Law
Finance documents are only as strong as the security behind them.
Harvard Legal advises financial institutions, corporate clients and individual borrowers on loan agreements, securities, regulatory compliance and dispute resolution. The legal landscape governing banking and financial transactions in NSW is shaped by both federal and state legislation, together with common law principles.
Banking and finance law in NSW is closely integrated with Commonwealth legislation, notably the Banking Act 1959 (Cth), the National Consumer Credit Protection Act 2009 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth), while NSW statutes govern aspects of property and securities regulation.
Key legislation
- Banking Act 1959 (Cth)
- Regulates banking institutions in Australia, including licensing requirements, prudential standards and conduct regulation. Its provisions apply to NSW-based banks and financial institutions.
- National Consumer Credit Protection Act 2009 (Cth)
- Known as the National Credit Act, it regulates consumer credit and responsible lending and established the Australian Credit Licence regime affecting NSW lenders and brokers.
- Australian Securities and Investments Commission Act 2001 (Cth)
- Establishes ASIC's regulatory powers, including licensing and enforcement, affecting banks, non-bank lenders and financial service providers operating in NSW.
- Conveyancing Act 1919 (NSW) and Real Property Act 1900 (NSW)
- Govern mortgage dealings and the registration of interests under the Torrens Title system, central to security interests over land in NSW.
- Personal Property Securities Act 2009 (Cth)
- The PPSA registration regime affects the creation, priority and enforcement of security interests over personal property.
- Property, Stock and Business Agents Act 2002 (NSW)
- Regulates agents involved in property-related transactions, including certain financial arrangements.
Services in detail
- Loan and credit agreements
- Drafting bespoke loan documents, reviewing existing agreements and ensuring compliance with applicable law.
- Security interests and collateral
- Creating and registering mortgages, charges and security interests, and advising on PPSA registration and priorities.
- Regulatory compliance
- Assisting banks and lenders to meet licensing obligations under the National Credit Act and to comply with ASIC and APRA requirements.
- Dispute resolution
- Acting in disputes concerning secured transactions, breaches of contract and regulatory investigations, including litigation and arbitration.
- Mergers and acquisitions
- Advising on the transfer of banking and financial assets, including due diligence and risk assessment.
NSW-specific considerations
While much of the regulation of banking and finance is federal, NSW courts and statutes influence local transactions. The Torrens system simplifies the registration and enforcement of security interests over land, and NSW-based financial institutions must also comply with local requirements, including under the Fair Trading Act 1987 (NSW), particularly in property and consumer credit transactions.
Case law continues to shape the field, with the courts interpreting statutes and contractual terms concerning the validity of security interests, the enforceability of loan terms and remedies for breach.
Frequently asked questions
What is PPSA registration and why does it matter?
The Personal Property Securities Act 2009 (Cth) establishes a national register of security interests over personal property. Registration affects the priority and enforceability of a security interest, so timing and accuracy are important.
Do you act for both lenders and borrowers?
We advise financial institutions, corporate clients and individual borrowers, subject to our conflict of interest checks in each matter.
Discuss your matter with Harvard Legal.
We will explain your options, the process ahead and how we can assist.