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Business Studies

Statutory Corporations and Its Features

State with re...

Question

State with reasons whether the following statements are True or False.

Government company is registered under special legislation.

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Solution

Government company is registered under special legislation- False

Explanation:
The above statement is incorrect. Government companies are infact registered under the Indian Company Act, 1956. On the other hand, statutory corporations are formed by passing a special Act of Parliament.

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