Question

Characteristics of statutory corporation

Answer 1

1) Features of Statutory corporation. Incorporated by special bills/Acts in parliament.Separate legal entity.State control.....
2) Merits of statutory corporations. Autonomy of operation.Absence of political interference.......
3) Demerits of statutory corporations. No flexibility in operation. misuse of powers
4) Advertisements:

Answer 2

The important features of a statutory corporations are as follows
(i) Formation Came into existence by a special act passed in the Parliament, which defines the objects, powers and functions of the corporation.
(ii) Control and Ownership They are directly under the State Government. They have the power to appropriate its profits and also bear losses if any.
(iii) Body Corporate/Separate Legal Existence They can sue and be sued, enter into contracts and purchase or sell property in their own name.
(iv) Financial Autonomy They are financed by borrowings from the government or from public through revenue generated by sale of goods and services.
(v) Accounting and Audit Control They are free from government accounting and audit control and are also not financed through government treasury.
hope u got ur answer
pls mark it as brainliest