Passing source code to __init__ to override method dynamically (Table driven subclassing)

[Ian Sparks]

I want to create specialized instances of a base class without declaring descendant classes.

Instead, I want to do the specialization by passing source-code to the constructor of the base-class. This way I can make my program table-driven.
  
Here's my working (but sucky) code :
 
PASS = 1
FAIL = 0
 
class test:
    def __init__(self,name,code):
        self.name = name
        self.source = code
        co = compile(code,"<string>",'exec')
        exec(co,globals(),self.__dict__)
    
    def execute(self):
        print self.__dict__['func'](self)
 
if __name__ == '__main__':
    code = """
def func(self):
    print code         #fun
    print self.name  #test self
    return PASS     #test globals
"""
    
    x = test('my test',code)
    x.execute()
        
Great as far as it goes but I'd rather have something more like :
 
class test:
    def __init__(self,name,code):
         ....
  
    def execute(self):
        """This should be overridden by passed-in code"""
       raise NotImplementedError
 
then...
 
code = """
#Note no function declaration, that signature won't change so the code could auto-add it (deal with indent?)
print code
print self.name
return PASS
"""
 
    x = test('my test',code)
    x.execute()

Any advice?