STATUTORY CORPORATION

__________ are public enterprises brought into existence by a special act of the parliament.

• Departmental Undertakings

• Government Companies

• Statutory Corporation

• Multinational Corporations

Give an Example of Statutory Corporation.

• Hair Salon

• • Life Insurance Corporation (LIC)

• Indian Railways

• • Coal India Limited (CIL)

Which of the following is true about statutory corporations?

• Statutory corporations are public enterprises that come into existence by a special act of the parliament

• Statutory corporations are subject to the same accounting and audit procedures as are applicable to government departments

• Statutory enterprises are funded directly by the government treasury

• The employees of statutory enterprises are civil servants

Statutory corporations are formed by a Special Act of Parliament. The Act defines their powers, objects and privileges.

• FALSE

• TRUE

Which of the following enterprises has separate legal entity?

• Departmental undertaking

• Government company

• Statutory corporation

• None of the above

​ ​ ------- and ​-------- is seen in major decisions.​

• Government &

  political interference

• Private Company & political interference

• Private Company & public

• None of the above

What is the feature of the following line :-

"This type of organization is wholly owned by the state"

Statutory corporation is a company in which minimum 51% of the paid-up capital is held by the State or the Central Government.

• True

• False

Statutory corporations are ____________

• Private enterprises

• None of the above

• Sole Proprietorship

• Public enterprises

Who am I?

I am Independent

• I also obtain funds by borrowings from government/public/revenue

• Guess me :)