Read each question, consider the options, then reveal the correct answer and explanation.
100 MCQs10 per page10 of 10
MCQ 91Banks (nationalization) Act, 1974
Under the proviso to Section 11(3)(a), from where must the Chairman and President be drawn?
From amongst professional bankers whose names are included in a panel of qualified bankers, maintained and varied by the State Bank
From amongst sitting members of Parliament
From amongst retired judges only
From amongst the bank's largest depositors
Correct answerA — From amongst professional bankers whose names are included in a panel of qualified bankers, maintained and varied by the State Bank
Explanation
The proviso to Section 11(3)(a) requires that 'the Chairman and the President shall be appointed from amongst professional bankers whose names are included in a panel of bankers qualified to be the Chairman or the President, which panel shall be determined, maintained and varied, from time to time, by the State Bank' — a professional-qualification safeguard ensuring these key leadership roles go to vetted banking professionals.
MCQ 92Banks (nationalization) Act, 1974
Under Section 11(11), what dual standard governs how the Board, President, and other officers must exercise their powers?
Only in accordance with Federal Government political directives
Purely at their own discretion with no external standard
In accordance with sound banking principles and prudent banking practices, ensuring compliance with State Bank regulations and directions
Only in accordance with shareholder profit maximization, with no other consideration
Correct answerC — In accordance with sound banking principles and prudent banking practices, ensuring compliance with State Bank regulations and directions
Explanation
Section 11(11) requires that '[t]he Board, the President and other officers shall exercise their powers and discharge their duties in accordance with sound banking principles and prudent banking practices and shall ensure compliance with regulations and directions that may be issued by the State Bank from time to time' — anchoring bank governance to professional banking standards and continuing State Bank regulatory oversight.
MCQ 93Bankers' Books Evidence Act, 1891
Considering the Act as a whole, which single feature most distinguishes it from ordinary rules of documentary evidence under general evidence law?
It abolishes the concept of prima facie evidence
It applies only to foreign banks operating in Pakistan
It creates an entirely new category of criminal offence
It substitutes a certified-copy mechanism for the general requirement of producing original documents, specifically tailored to banking records
Correct answerD — It substitutes a certified-copy mechanism for the general requirement of producing original documents, specifically tailored to banking records
Explanation
The Act's defining innovation, as stated in its preamble, is to 'amend the Law of Evidence with respect to Bankers' Books' by creating a specialized certified-copy regime (Sections 2(8) and 4) that spares banks from the general evidentiary burden of producing original ledgers in every proceeding, while still preserving safeguards (certification requirements, prima facie status, cost-shifting) to protect accuracy and fairness.
MCQ 94Copyright Ordinance, 1962
Under Section 11, what happens to copyright in a joint work where some, but not all, joint authors satisfy the Ordinance's conditions for copyright?
Copyright fails entirely for the whole work
The work automatically becomes a Government work
Only the non-qualifying authors retain any rights
The work is treated as if the qualifying author(s) had been the sole author(s), with the copyright term remaining the same as if all authors had qualified
Correct answerD — The work is treated as if the qualifying author(s) had been the sole author(s), with the copyright term remaining the same as if all authors had qualified
Explanation
Section 11 provides a saving mechanism preserving copyright despite mixed qualification: the work is treated as if the qualifying author(s) were the sole author(s), but with a proviso that 'the term of the copyright shall be the same as it would have been if all the authors had satisfied such conditions' — preventing the disqualified co-author's status from either destroying the copyright or artificially shortening its term.
MCQ 95Banks (nationalization) Act, 1974
Under Section 18, as substituted by the 1997 Amendment Act, who is protected by the Act's indemnity provision?
Only individual bank customers
No one; the Act contains no indemnity provision
The Federal Government, the State Bank, the President or directors of a bank's Board, and any officer of the Federal Government, State Bank, or a bank
Only the Federal Government
Correct answerC — The Federal Government, the State Bank, the President or directors of a bank's Board, and any officer of the Federal Government, State Bank, or a bank
Explanation
Section 18 provides: 'No suit, prosecution, or other legal proceedings shall lie against the Federal Government, the State Bank, the President or directors of the Board, of a bank or any officer of the Federal Government or the State Bank or a bank for anything in good faith done or purporting to be done under this Act... or for any damage caused or likely to be caused by anything done or purporting to be done as aforesaid.'
MCQ 96Drugs Act, 1976
Under Section 5(1), who regulates the grant of licences to manufacture drugs?
The Drug Court
Each individual Provincial Government acting alone
A Central Licensing Board set up by the Federal Government, consisting of prescribed representatives of the Federal and Provincial Governments
Private industry self-regulation bodies
Correct answerC — A Central Licensing Board set up by the Federal Government, consisting of prescribed representatives of the Federal and Provincial Governments
Explanation
Section 5(1) provides: 'The grant of licences to manufacture drugs shall be regulated in accordance with such conditions and procedure as may be prescribed, by a Central Licensing Board to be set up by the Federal Government and consisting of such representatives of the Federal Government and the Provincial Governments as may be prescribed' — a joint federal-provincial regulatory body for manufacturing licences specifically.
MCQ 97Copyright Ordinance, 1962
Under Section 74(3), inserted by Act XX of 1992, how are offences under the Ordinance classified for bail purposes?
Cognizable but freely bailable
Non-cognizable and non-bailable
Non-cognizable and freely bailable
Cognizable and non-bailable
Correct answerD — Cognizable and non-bailable
Explanation
Section 74(3) establishes a notably strict classification — both cognizable (allowing warrantless arrest/police investigation) AND non-bailable (bail is not available as of right) — reflecting a significant toughening of copyright enforcement compared to the Ordinance's original, presumably milder, 1962 framework, consistent with the broader pattern of enhanced anti-piracy provisions added through 1992 and 2000 amendments.
MCQ 98Copyright Ordinance, 1962
Under Section 41(2), who may apply to the Board for rectification of the Register of Copyrights, and on what grounds?
Only the original author, and only within thirty days of the initial registration
Only the Federal Government, and only for typographical errors
No rectification mechanism exists once an entry is made
The Registrar or any aggrieved person, for wrongly omitted entries, wrongly made/remaining entries, or correction of any error/defect
Correct answerD — The Registrar or any aggrieved person, for wrongly omitted entries, wrongly made/remaining entries, or correction of any error/defect
Explanation
Section 41(2) creates a broader corrective mechanism (beyond the Registrar's own administrative correction power in Section 41(1) for minor slips/errors) allowing the Board, upon application by the Registrar or any aggrieved person, to order rectification for wrongly omitted entries, wrongly made or remaining entries, or correction of any error or defect — a more substantial review process than simple clerical correction.
MCQ 99Banks (nationalization) Act, 1974
What did the original Section 24 of the Act provide for, and what is its current status?
It established the Pakistan Banking Council
It never existed in the Act's original form
It provided for the Act's own sunset clause, still in force today
It provided for repeal of Ordinance I of 1974, and has itself since been omitted by the Federal Laws (Revision and Declaration) Ordinance, 1981
Correct answerD — It provided for repeal of Ordinance I of 1974, and has itself since been omitted by the Federal Laws (Revision and Declaration) Ordinance, 1981
Explanation
A footnote confirms: 'Repeal of Ordinance I of 1974. Omitted by the Federal Laws (Revision and Declaration) Ordinance, 1981 (XXVII of 1981), s. 3 and Sch., II.' This reflects that the Act itself had originally repealed a predecessor Ordinance (Ordinance I of 1974, presumably the original nationalization ordinance later re-enacted as this Act), a provision that became spent and was tidied away by 1981 revision legislation.
MCQ 100Banks (nationalization) Act, 1974
Under Section 8(1), what happened to persons holding office as chairman, director, or chief executive of a bank (other than by Federal Government or State Bank appointment) on the commencing day?
They were transferred to equivalent positions in the State Bank
They stood removed from office, with no entitlement to compensation for that removal
They were entitled to full severance compensation equal to five years' salary
They automatically continued in office indefinitely
Correct answerB — They stood removed from office, with no entitlement to compensation for that removal
Explanation
Section 8(1) provides that such office-holders, other than those appointed or nominated by the Federal Government or State Bank, 'shall stand removed from his office on the commencing day and this removal shall not entitle him to any compensation and no such claim shall be entertained by any court, tribunal or other authority' — a clean, compensation-barred removal of the pre-nationalization private management structure.
