Read each question, consider the options, then reveal the correct answer and explanation.
100 MCQs10 per page8 of 10
MCQ 71Banks (nationalization) Act, 1974
Under Section 5A(2), what deemed retrospective power does the Federal Government have regarding terms and conditions of share sales?
The Federal Government has this power only prospectively from the date Section 5A was inserted
The Federal Government shall have, and be deemed always to have had, the power to determine and lay down the terms and conditions of share sales and management transfers
This power vests exclusively in the State Bank, not the Federal Government
No such deeming provision exists in Section 5A
Correct answerB — The Federal Government shall have, and be deemed always to have had, the power to determine and lay down the terms and conditions of share sales and management transfers
Explanation
Section 5A(2) contains a striking retrospective deeming clause: 'The Federal Government shall have, and be deemed always to have had, the power to determine and lay down the terms and conditions subject to which shares in the capital of a bank are to be sold and its management and control is to be transferred to any person under sub-section (1)' — legislatively validating the exercise of this power even before Section 5A's actual insertion date.
MCQ 72Federal Investigation Agency Act, 1974
Under Section 10(5), what happens to the terms and conditions of service of a specified person once they cease to hold their Provincial Police post (whether through the repeal or through a Section 10(4) direction)?
Their terms and conditions are determined solely by the Federal Public Service Commission
Their terms and conditions are left entirely undefined by the Act
They lose all prior entitlements and start afresh at entry-level terms
They are entitled to the same terms and conditions of service to which they were entitled immediately before such repeal or the issue of such direction
Correct answerD — They are entitled to the same terms and conditions of service to which they were entitled immediately before such repeal or the issue of such direction
Explanation
Section 10(5) provides continuity of service benefits: such a person 'shall, upon the repeal of the said Ordinance or, as the case may be, the issue of such direction, cease to hold a post in or under the Provincial Police concerned and shall be entitled to the same terms and conditions of service to which he was entitled immediately before such repeal or the issue of such direction' — safeguarding accrued service rights through the transition.
MCQ 73Federal Investigation Agency Act, 1974
A litigant seeks to sue an FIA officer for an arrest made in good faith while enforcing Section 5(3), which later turns out to have been based on mistaken identity. What is the likely outcome under Section 8?
The suit will automatically succeed regardless of Section 8
The suit is likely barred by Section 8's indemnity, since the arrest was made in good faith under the Act, even though it later proved factually mistaken
The officer must personally compensate the litigant regardless of good faith
Section 8 only applies to Director-Generals, not ordinary members
Correct answerB — The suit is likely barred by Section 8's indemnity, since the arrest was made in good faith under the Act, even though it later proved factually mistaken
Explanation
Section 8's indemnity protects acts 'in good faith done or intended to be done under this Act or the rules' — and good faith does not require the underlying suspicion to have been factually correct, only that the officer acted honestly and without malice based on reasonable suspicion at the time (as contemplated by Section 5(3) itself). A later-discovered mistake of identity, absent bad faith, would generally not defeat the Section 8 indemnity.
MCQ 74Copyright Ordinance, 1962
Under Section 14(2A), inserted by Act XX of 1992, what recourse does a copyright owner or publisher-assignee have if they consider assignment terms likely to adversely affect their interests?
They must file a civil suit in the High Court, with no administrative alternative
They have no recourse whatsoever once an assignment is signed
They may unilaterally rescind the assignment without any hearing
They may, within one year of the assignment, apply to the Board to consider the term, and the Board's resulting order is binding on both parties
Correct answerD — They may, within one year of the assignment, apply to the Board to consider the term, and the Board's resulting order is binding on both parties
Explanation
Section 14(2A) creates an administrative fairness-review mechanism: either the copyright owner or the publisher-assignee 'may within one year of such assignment apply to the Board to consider such term and the Board may, after hearing both the parties, pass such order as it may deem fit; and the order of the Board shall be binding on both the parties' — an accessible alternative to full civil litigation for contesting unfair assignment terms.
MCQ 75Federal Investigation Agency Act, 1974
Under Section 10(2)(a), what happens to persons who were members of the Special Police immediately before the repeal of the 1948 Ordinance?
They are transferred to the Provincial Police instead
They stand transferred to the Agency, entitled (subject to sub-section (5)) to the same terms and conditions as before the repeal
They lose all employment status
They are automatically retired with full pension
Correct answerB — They stand transferred to the Agency, entitled (subject to sub-section (5)) to the same terms and conditions as before the repeal
Explanation
Section 10(2)(a) provides that 'all persons who were members of the Special Police immediately before such repeal, including the specified persons, shall stand transferred to the Agency and shall, subject to sub-section (5), be entitled to the same terms and conditions to which they were entitled immediately before such repeal' — ensuring institutional and personnel continuity despite the formal repeal of the predecessor body's enabling law.
MCQ 76Banks (nationalization) Act, 1974
Under Section 11A, inserted by the 1997 Amendment Act, to which entities does Section 11's management framework additionally apply, notwithstanding anything to the contrary in other laws or instruments?
Among others (per surviving clauses), First Women Bank Limited, Agricultural Development Bank of Pakistan, and Industrial Development Bank of Pakistan
Only to foreign banks operating in Pakistan
Only to cooperative banks
Only to microfinance banks
Correct answerA — Among others (per surviving clauses), First Women Bank Limited, Agricultural Development Bank of Pakistan, and Industrial Development Bank of Pakistan
Explanation
Section 11A extends Section 11's management provisions to certain 'financial institutions,' with the currently surviving clauses (several having been omitted by subsequent amendments in 2011 and 2020) naming '(vii) First Women Bank Limited,' '(viii) Agricultural Development Bank of Pakistan (ADBP)' and '(ix) Industrial Development Bank of Pakistan (IDBP),' plus any other institution the Federal Government specifies by Gazette notification.
MCQ 77Copyright Ordinance, 1962
Under Section 3(1)(a), which of the following is NOT one of the exclusive rights conferred in relation to a literary, dramatic or musical work?
To make any adaptation of the work
To perform the work in public
To reproduce the work in any material form
To physically destroy all existing copies of the work
Correct answerD — To physically destroy all existing copies of the work
Explanation
Section 3(1)(a) lists specific positive rights: reproduction, publication, public performance, translation, cinematographic/record use, broadcasting, adaptation, and related derivative acts, plus (added later) authorizing computer programme rental. The 'right' to destroy all existing copies is not a copyright entitlement at all — copyright confers rights to control reproduction/exploitation, not a power to eliminate a work from existence.
MCQ 78Banks (nationalization) Act, 1974
Under Section 12(1), what general obligation is imposed on bank Chairmen, Board members, and chief executives regarding customer information?
They shall observe the practices and usages customary among bankers and shall not divulge information relating to the affairs of constituents except as necessary/appropriate under law or banking practice
They may divulge customer information freely to any government agency without restriction
They have no confidentiality obligations under the Act
They must publicly disclose all customer account details annually
Correct answerA — They shall observe the practices and usages customary among bankers and shall not divulge information relating to the affairs of constituents except as necessary/appropriate under law or banking practice
Explanation
Section 12(1) codifies banker's confidentiality: covered officers 'shall observe, except as otherwise required by law, the practices and usages customary among bankers and, in particular, shall not divulge any information relating to the affairs of its constituents except in circumstances in which it is, in accordance with law or practice and usages customary among bankers, necessary or appropriate for a bank to divulge such information.'
MCQ 79Banks (nationalization) Act, 1974
Under the Explanation to Section 12(2), when is the declaration-of-fidelity requirement deemed already satisfied for certain persons?
Never; every person must file a fresh declaration regardless of prior filings
Only if the declaration is notarized by a magistrate
Where a person employed in connection with a bank's affairs, not required to vacate office under the Act, has already filed a substantially similar declaration with the bank
Only for persons appointed after 1997
Correct answerC — Where a person employed in connection with a bank's affairs, not required to vacate office under the Act, has already filed a substantially similar declaration with the bank
Explanation
The Explanation to Section 12(2) provides that for 'any such person employed in connection with the affairs of a bank as is not required by any provision of this Act to vacate any office held by him, the requirements of this sub-section shall be deemed to be satisfied if such person has already filed with the bank a declaration more or less to the effect of the prescribed form' — avoiding redundant re-declaration by continuing employees.
MCQ 80Banks (nationalization) Act, 1974
Sub-clause (vi) of Section 3(1)(b), added by the Banks (Nationalization) (Amendment) Ordinance, 1977, excludes which category of entity?
A corporation or company established in Pakistan pursuant to an agreement between the Government of Pakistan and a foreign Government or institution for transacting banking business
Any entity registered in Islamabad
Any entity established after 1980
Any entity with foreign directors
Correct answerA — A corporation or company established in Pakistan pursuant to an agreement between the Government of Pakistan and a foreign Government or institution for transacting banking business
Explanation
The footnote confirms sub-clause (vi) was 'ins.' (inserted) by the Banks (Nationalization) (Amdt.) Ordinance, 1977 (46 of 1977), s. 2, excluding 'a corporation or company established in Pakistan in pursuance of an agreement between the Government of Pakistan and a foreign Government or institution for transacting banking business in or outside Pakistan' — a category typically covering joint-venture or treaty-based banking arrangements.
