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Towards a Payments System Law for Developing and Transition Economies Book

Towards a Payments System Law for Developing and Transition Economies
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  • Towards a Payments System Law for Developing and Transition Economies
  • Written by author Raj Bhala
  • Published by World Bank, 1995/12/31
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Book Categories

Authors

Foreword
Abstract
Acknowledgement
Introduction 1
I The importance of the governing legal regime 2
II An overview of the five legal foundations 4
III A case study 6
Diagram: Hypothetical example of a funds transfer 8
IV Discussion of the five legal foundations 14
Scope rule 14
Trigger event 17
Receiver finality 19
Interloper fraud rule 20
Money-back guarantee and discharge 24
A note on bank failure 25
V Drafting principles 28
Interest groups 28
The rule of law 29
Accountability 29
Integration with other bodies of law 30
Fraud prevention 30
Supporting the financial markets 30
VI Summary 31


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