Question

What do you mean by Statutory corporation ? Briefly discuss it's merits & demerits.​​

Answer 1

Answer:

1. Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments. ... It is a corporate person and has the capacity of acting in its own name.

2. The difference between merits and demerits is that merits are the strengths of anything be it a policy,law, agreement, action. They show what benefits it has and how it can be gainfully used. Demerits on the other hand are the weaknesses of anything. They tell what problems one should anticipate