Question

The policies and procedures of a statutory corporation are assigned to them by __________.

• A. Government
• B. Organization itself
• C. Special act of parliament
• D. Neither of the above

Answer 1

Answer: (C)

Special act of parliament

Since statutory corporations are autonomous organizations, they frame their own policies and procedures within the powers assigned to them by the Act. The Act may, however, provide few issues which require prior approval of a particular ministry.