Commercial Law Aspects of Residential Mortgage Securitisation in Australia

This book evaluates key commercial law aspects of the relevant law and legislation governing residential mortgage-backed securities (RMBSs) in Australia from a legal perspective. Within the context of a “public benefit test” framework, the book seeks to critically evaluate the impact and effectiveness of current law and regulation governing RMBSs. There is a dearth of both academic and practical literature on the legal and regulatory issues surrounding RMBSs in Australia. The book aims to make a contribution to the formulation of law and public policy by suggesting a number of reforms to the current law and practice surrounding RMBSs in Australia. In part, these suggested reforms will be based on the lessons learned from the experiences of overseas jurisdictions such as Canada, the U.K, and the United States. 

Pelma Rajapakse is a Senior Lecturer in Business Law and Corporations Law in the Department of Accounting Finance and Economics, Griffith University, Nathan, Queensland, Australia. Her research combines socio-legal and doctrinal analysis and qualitative methods. Her research has encompassed a range of topics such as fraud in fund management in Australia and overseas, legal aspects of residential mortgage securitisation, mortgage lending, and professional negligence. Her articles have appeared in a number of prominent peer-reviewed law journals and the Comparative Law Yearbook of International Business (Kluwer Law International). Pelma is a member of the Law Futures Centre at Griffith University and an honorary research fellow at the Centre for International Legal Studies, Salzburg, Austria.

Shanuka Senarath is currently working as a lecturer in the Department of Economics, University of Colombo, Sri Lanka. He is also an Attorney-at-law of the Supreme Court of Sri Lanka. In 2017 Shanuka earned his PhD from Griffith University, Queensland, Australia. Shanuka’s research interest mainly lies on economic analysis of law. His PhD research and most of his publications focus on asset securitization and the global financial crisis, where he combines economic theory in order to analyze legislation pertaining to asset securitization in a global context. He has also published articles in reputed journals on population aging and economic analysis of constitutional law prior to his PhD research.