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Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
vii For changing location of a bank branch within the same city permission from State Bank of Pakistan is required.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xviii According to BCO, banking companies are allowed to deal in the buying or selling or bartering of goods.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xix Banking companies are freely allowed to hold immovable properties, other than for their own use, for any period they like.
2.4 Important Provisions of Banking Companies Ordinance, 1962 (BCO)
2.4.1 The Banks authorized Business
2.4.2 Prohibition on the use of the word âBankâ
2.4.3 Prohibition on employment of Certain Persons
2.4.4 Minimum General Reserve
2.4.5 Election and Tenure of Directors
2.4.6 Lending against Security of Own Shares
2.4.7 License for Taking Deposits
2.4.8 Trade Unions
2.4.9 Unclaimed Deposits
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
v. An unclaimed deposit must be transferred to State Bank of Pakistan after
A) 10 years
B) 5 years
C) Never transferred
D) None of the above
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
x Any deposit with a bank remaining unclaimed for 10 years
A) must be transferred to State Bank of Pakistan
B) may be taken to profit and loss account
C) may be transferred to reserve for bad debts
D) None of the above
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
ix Banks by law are required to transfer unclaimed articles of value to State Bank of Pakistan after 10 years.
2.4.10 Secrecy
2.4.11 Powers to remove the Board of Directors
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
vi. SBP has powers to remove any director/managerial person from office of any banking company;
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
x The SBP may direct prosecution of a Chief Executive of a bank who has knowingly acted in a manner causing loss of depositorsâ money.
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
x. Law provides powers to State Bank to supersede Board of Directors of Banking Company.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
vii For changing location of a bank branch within the same city permission from State Bank of Pakistan is required.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xviii According to BCO, banking companies are allowed to deal in the buying or selling or bartering of goods.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xix Banking companies are freely allowed to hold immovable properties, other than for their own use, for any period they like.
2.4 Important Provisions of Banking Companies Ordinance, 1962 (BCO)
2.4.1 The Banks authorized Business
2.4.2 Prohibition on the use of the word âBankâ
2.4.3 Prohibition on employment of Certain Persons
2.4.4 Minimum General Reserve
2.4.5 Election and Tenure of Directors
2.4.6 Lending against Security of Own Shares
2.4.7 License for Taking Deposits
2.4.8 Trade Unions
2.4.9 Unclaimed Deposits
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
v. An unclaimed deposit must be transferred to State Bank of Pakistan after
A) 10 years
B) 5 years
C) Never transferred
D) None of the above
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
x Any deposit with a bank remaining unclaimed for 10 years
A) must be transferred to State Bank of Pakistan
B) may be taken to profit and loss account
C) may be transferred to reserve for bad debts
D) None of the above
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
ix Banks by law are required to transfer unclaimed articles of value to State Bank of Pakistan after 10 years.
2.4.10 Secrecy
2.4.11 Powers to remove the Board of Directors
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
vi. SBP has powers to remove any director/managerial person from office of any banking company;
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
x The SBP may direct prosecution of a Chief Executive of a bank who has knowingly acted in a manner causing loss of depositorsâ money.
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
x. Law provides powers to State Bank to supersede Board of Directors of Banking Company.
