Question

Compare the company form of organisation with the statutory corporation

Answer 1

Explanation:

A statutory corporation is an autonomous corporate body created by a Special Act of Parliament or state legislature with defined functions, powers, duties, immunities etc. It is also called 'public corporation'. State helps the statutory corporations by subscribing the full capital and it is fully owned by the state.

Answer 2

Answer -

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• Statutory corporations are body corporates formed by a special act of parliament or by the central or state legislature. It is fully financed.

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