Professional Documents
Culture Documents
Winter 2018
CANDIDATE DETAILS
Access Number Roll Number For Official Use Only Serial Number
Subject
Candidate’s Name
Father’s Name
CNIC Number
I verify that my particulars given above are correct and I declare that I have read the INSTRUCTIONS printed in the
examination booklet, and/ or given in the ISQ Examination Guidelines, violation of which would mean cancellation of
my paper and debarment from appearing in future examinations.
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The Institute of Bankers Pakistan
ISQ Examinations
Winter - 2018
AIBP
Corporate and Banking
Law SEAL
BOOK
HERE
Section 2
Subjective Questions
Number of Questions: 6
Marks: 40
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INSTRUCTIONS FOR THE CANDIDATE
1. The candidate must abide by the ISQ Examination Guidelines sent along with the admit
card.
2. The candidate must sign the booklet after verifying the particulars and should NOT write
his/ her name or roll number etc. on any other page of the examination booklet.
3. The candidate is advised NOT to approach the invigilators for seeking any explanation
related to the questions in the examination paper.
4. Laptops, mobile phones or any other gadgets are NOT permitted in the examination hall.
ONLY non-programmable scientific calculator is allowed. If any candidate is found in
possession of any restricted gadgets or items, his/ her examination paper will be cancelled
immediately.
5. The candidate must ensure that the examination booklet has all the pages duly numbered. If
any page is missing, damaged or not numbered, then return the booklet to the
superintendent/ invigilator and obtain another booklet.
6. Write your answer ONLY in the given space for each question. Anything written outside
the given space will not be considered for marking.
7. ONLY blue or black ball points are to be used.
8. The candidate must attempt ALL questions in the paper.
Marker - I
Q.C
Scrutiny
Re-Scrutiny
Marker– II
Signatures:
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Q1. According to the Companies Act, 2017, state the qualifications of the person(s) who
may be appointed as statutory auditor of a Company Limited by Shares. (6 Marks)
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Q2. Under the provisions of the Contract Act, 1872, comment on the following situations
including the types and validity of the contracts:
A. ‘A’ obtained a loan from ‘J’ on the surety of ‘M’. ‘J’ also obtained a charge over A’s
car at the time of disbursement of loan. However, ‘M’ was unaware of this security. ‘J’
gave up the charge over the car and ‘A’ defaulted. (3 Marks)
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B. ‘KK’ is the sole proprietor and deals in sale of product X. On January 1, 2018, ‘KK’
entered into two months’ contract with ‘A’ for the promotion and sale of product X on
commission basis. On March 2, 2018, ‘KK’ died in an airplane crash. ‘A’ came to know
about it on March 15, 2018. However, ‘A’ continued selling the product as per the
contract. (3 Marks)
C. ‘S’ owed Rs. 5 million to ‘P’ but was unable to pay due to liquidity constraints.
However, ‘S’ owned a property and on October 10, 2017, he authorized ‘P’ to collect
rent of the property until he recovers his dues. On March 1, 2018, ‘S’ terminated the
authority of ‘P’ to collect rent although his dues were not fully satisfied. (3 Marks)
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Q3. What property may or may not be transferred under Section 6 of Transfer of Property
Act, 1882? (6 Marks)
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Q4. TIML manages a mutual fund, Tension Equity Fund. Based on the recommendations of
its research team, presently, TIML is considering investing USD 9 million in the shares
of two companies listed on Singapore Stock Exchange. State the conditions contained
in the Foreign Exchange Regulations of SBP, which TIML is required to comply,
regarding the above investment. (5 Marks)
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Q5. How a mortgaged property can be sold under Section 15 of the Financial Institution
(Recovery of Finances) Ordinance, 2001? Explain. (6 Marks)
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Q6. Differentiate between Ijara and Murabaha under the following headings: (8 Marks)
Subject matter of the contract
Tenure of Contract (Long-term/ Short-term)
Legal status of security deposit/ down payment
Risk and Reward over asset
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