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    Lecture - Week 1 - Students

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    Ravinesh
    This document provides an overview of banking law and the legal system in Fiji. It discusses: - The definition and functions of law, including maintaining social order and defining acceptable behavior. - The sources of law, including customary law, statutes, common law, and the constitution. It classifies common law and distinguishes between public and private law. - An introduction to banking law in Fiji, which is governed by the Banking Act of 1995. - Key aspects of Fiji's legal system including the separation of powers among the legislature, executive, and judiciary branches.

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    Lecture - Week 1 - Students

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    Ravinesh
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    This document provides an overview of banking law and the legal system in Fiji. It discusses: - The definition and functions of law, including maintaining social order and defining acceptable behavior. - The sources of law, including customary law, statutes, common law, and the constitution. It classifies common law and distinguishes between public and private law. - An introduction to banking law in Fiji, which is governed by the Banking Act of 1995. - Key aspects of Fiji's legal system including the separation of powers among the legislature, executive, and judiciary branches.

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    This document provides an overview of banking law and the legal system in Fiji. It discusses: - The definition and functions of law, including maintaining social order and defining acceptable behavior. - The sources of law, including customary law, statutes, common law, and the constitution. It classifies common law and distinguishes between public and private law. - An introduction to banking law in Fiji, which is governed by the Banking Act of 1995. - Key aspects of Fiji's legal system including the separation of powers among the legislature, executive, and judiciary branches.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    4 views22 pages

    Lecture - Week 1 - Students

    Uploaded by

    Ravinesh
    This document provides an overview of banking law and the legal system in Fiji. It discusses: - The definition and functions of law, including maintaining social order and defining acceptable behavior. - The sources of law, including customary law, statutes, common law, and the constitution. It classifies common law and distinguishes between public and private law. - An introduction to banking law in Fiji, which is governed by the Banking Act of 1995. - Key aspects of Fiji's legal system including the separation of powers among the legislature, executive, and judiciary branches.

    Copyright:

    © All Rights Reserved
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    Download as ppt, pdf, or txt
    of 22

    AF315 – BANKING LAW

    Dr. Ilimotama Cawi., CPA, CFAS (ACFE)


    School of Accounting, Finance & Economics
    University of the South Pacific
    Week 1

    Bank & the Law: An Introduction


    Overview
    • What is law
    • Sources of law
    • Statute
    • Common law
    • Classification of common law
    • Constitution
    • Banking Law
    Introduction
    Customary Law
    • Fiji, the land and the people

     The use of law as an explicit instrument of


    colonisation
     The underlying value system is clear and well
    expressed in i-Taukei song, art and ‘cibi’ for
    example.
    Law
     A system of principles and rules of human
    conduct, being the aggregate of those
    commandments and principles which are
    either prescribed or recognized by the
    governing power in an organized jural
    society as its will in relation to the conduct of
    the members of such society, and which it
    undertakes to maintain and sanction and to
    use as the criteria of the actions of such
    members (https://thelawdictionary.org/law/).
    Law
    • . “Law” is a solemn expression of legislative will. It
    orders and permits and forbids. It announces
    rewards and punishments. Its provisions generally
    relate not to solitary or singular cases, but to what
    passes in the ordinary course of affairs (
    https://thelawdictionary.org/law/).
    Law
    • 2 Functions:
     Macro-function
     Micro-function
    Law
    • Macro-function:
    • Social function - maintain order in society, that
    is:
     Public
     Political
     Social
     Economic
     International
     Moral order
    Law
    • Micro-function:
     To achieve specific social objectives
     To define limits of acceptable behaviours
     Will accept a criminal penalty
    Law
    • Problem with many functions of the law:
     Conflict
     Example: (Police) preserving social order vs
    protection of civil liberties or the right to
    expression.
     In Fiji, people want to take the street to
    demonstrate to express their dissatisfaction about
    some issue and the police are concerned that
    such demonstration might lead to violent disorder.
    Sources of law
    Classification of law
    • Three different meanings of the term ‘common
    law’
    1. Common law and statute law
    2. Common law and equity
    3. Common law and civil law
    Public and private law
    • Public law
     deals with relations between individuals where
    the state is not directly involved, such as, the
    enforcement of contracts or ownership of
    property
    Public and private law
    • Private law
     deals with relationships between citizens and
    the state
    Civil and criminal law
    • Civil law

    • Criminal law
    Subdivisions of civil law
    • Contract law – deals with legally binding
    agreements

    • Law of tort – civil wrong

    • Family law – family and domestic relationships

    • Land law – set of rules that govern the land and


    anything attached to it, example, trees
    Constitution
    • The way:
    • a country is governed and
    • power is organized and distributed
    Constitution
    • Three of the most important principles:
    i. The separation of powers
    ii. The sovereignty of parliament
    iii. The rule of law
    Constitution
    • 3 main centres of power:
    i. the legislature
    ii. the executive-The Executive is the administrative arm of
    government and is responsible for putting into operation the laws
    passed by Parliament and administering the programs and services
    that are delivered by Government.
    • the judiciary-The Judiciary is the legal branch of government and is
    responsible for interpreting and enforcing the laws of Fiji.
    • Judicial power and authority is exercised by the courts – the Supreme
    Court, the Court of Appeal, the High Court, the Magistrates Court and other
    courts and tribunals that may be created by law.
    i. Separation of powers; also provides ‘checks and balances’
    Banking Act (Fiji), 1995
    Summary

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