Question

Discuss the features of Statutory Corporations?​

Answer 1

$\huge\underline\purple{Answer:-}$

The main characteristics of the statutory corporation are:

• It is a Corporate Body.
• It is an artificial person created by law & is a legal entity.
• Owned by State.
• State provides help to such corporations by subscribing to the capital fully or wholly.
• Answerable to the Legislature.
• Own Staffing System.

Answer 2

Answer:

The main characteristics of the statutory corporation are:

* It is a Corporate Body.

* It is an artificial person created by law & is a legal entity.

* Owned by State.

* State provides help to such corporations by subscribing to the capital fully or wholly.

* Answerable to the Legislature.

* Own Staffing System.