Question

what is statutory corporation
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Answer 1

Answer:

A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government with or without other shareholders, or they might be a body without shareholders that is controlled by national or sub-national government to the (in some cases minimal) extent provided for in the creating legislation

Answer 2

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Statutory corporations are body corporates formed by a special act of parliament or by the central or state legislature. Examples include Air India, State Bank of India, Life Insurance Corporation of India etc. .