Question

Which of the following is/are statutory corporation?

• A. Life Insurance Corporation(LIC)
• B. Unit Trust of India(UTI)
• C. Food Corporation of India
• D. All of the above

Answer 1

Answer: (D)

All of the above

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments.It is a corporate person and has the capacity of acting in its own name.