A statutory corporation is established through a special Act passed by the Parliament or a State legislature. This Act defines its powers, structure, and functions. Because it is created by law, it enjoys autonomy and operates independently while still being accountable to the government.
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Question
A _________ is an autonomous corporate body created by the special Act of the Parliament or State legislature.
Options
Statutory corporation
government company
MNC
MCQ
Fill in the Blanks
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Solution
A Statutory corporation is an autonomous corporate body created by the special Act of the Parliament or State legislature.
Explanation:
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Chapter 5: Forms of Business Organisation - II - EXERCISE [Page 112]
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RELATED QUESTIONS
A statutory corporation is answerable to ______ Or state assembly whosoever creates it.
Give one word/phrase/term.
An organisation which is answerable to parliament or state assembly whosoever creates it.
Complete the sentence.
A ___________ has defined powers, functions and duties.
Correct the underlined word and rewrite the following sentence.
Statutory Corporation is a natural person created by special Acts.
Correct the underlined word and rewrite the following sentence.
A Statutory Corporation is not answerable to parliament or state assembly.
Explain the following term/concept.
Statutory Corporation.
Study the following case/situation and express your opinion.
A central government passes a statute in the parliament and forms a business organisation which is having autonomy in administration and this organisation is answerable to the legislature.
- Which type of organisation is this?
- Give any three Features of this organisation.
- Give anyone an example of this type of organisation.
Distinguish Between Government Company and Statutory Corporation.
State any four features of statutory corporation.
Attempt the following.
Merits of Statutory Corporation.
Attempt the following.
Demerits of Statutory Corporation.
Answer the following in detail.
Explain merits and demerits of Statutory Corporation.
Match the pairs.
| Group A | Group B |
| A) BHEL | 1) Special Legislature |
| B) Statutory Corporation | 2) 49% paid up capital by govt. |
| C) Departmental Organisation | 3) Service Motive |
| D) Private Sector | 4) Railway |
| E) Public Sector | 5) Profit Motive |
| 6) 51% paid up capital by govt. |
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
Statutory corporations are accountable to which entity?
Why can statutory corporations easily raise capital for their operations?
