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Question
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.
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Solution
- It is a Statutory Corporation.
- A corporate body, No political interference, Own staffing system are the features of Statutory Corporation.
- “Life Insurance Corporation of India” is the example of a Statutory Corporation.
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Statutory Corporation.
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