Question

What is Statutory Corporation? Explain its features, merits and demerits.

Answer 1

${\huge {\mathfrak {Answer :-}}}$

➡️ 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.

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