Snapshot
- Controversy has raged in the banking industry as to whether the Code of Banking Practice, a voluntary code of conduct to which most banks adhere, has any legal and, in particular, contractual force between a bank and a customer.
- It has been the subject of at least two Victorian Court of Appeal decisions, the most recent of which has confirmed that the Code does have contractual effect.
- The decision has obvious ramifications for the manner in which banks will be required to deal with guarantors and other persons to whom provisions of the Code of Banking Practice may apply.
Click here to download the case note or view the post via Anthony's website http://www.silkmediator.com.au/the-contractual-effect-of-the-code-of-banking-practice/
