In light of the various consumer protection mechanisms offered by the Australian Consumer Law, the ASIC Act, rules of common law, and codes of practice, is the doctrine known as the utmost good faith (uberrimae fides) relevant in insurance law?

Jenny aged 16 approaches Betty at the local branch of First National Bank Ltd. seeking a loan of $10,000 for a second-hand car. Advise Betty about the legal position of lending money to a minor in Victoria. What can the bank do to ensure that if the amount is loaned that it will be recovered? Give reasons for your answer.