Which of the following refers to a corporate body created by the Parliament of State Legislature by a special Act which defines its powers, functions and pattern of management?

Departmental undertaking

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Statutory corporation

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Government company

No worries! We‘ve got your back. Try BYJU‘S free classes today!

All of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Statutory corporation
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. Examples: Reserve Bank of India, State Bank of India, Life Insurance Corporation, Unit Trust of India, Employees State Insurance Corporation, Oil and Natural Gas Corporation etc. are some examples of statutory corporations

Suggest Corrections

Similar questions

Identify the concept which is a body corporate and set up under a special act of the Parliament.

Join BYJU'S Learning Program