A statutory body is a company or organization created by law, or statute, in order to regulate or carry out a public function. Examples of statutory bodies include the Airport Authority of India, the Food Corporation of India and the National Highway Authority of India.
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Reserve Bank of India , Life Insurance Corporation of India , and Railways
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The statutory compliane are difference in various states, typically statutory followed all the states are 1. Provident fund 2. ESIC 3. Professional tax/service Tax 4. Bonus Act 5.Gratuity 6.
attorney general .
A statutory body deals with written law; non-statutory deals with implied law.
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statutory laws
Statutes passed by legislative bodies.
ANSWER: courts
Statutory Laws
Statutes passed by legislative bodies.
As a statutory body has been created by statute (Act of Parliament, in the UK), it has an officially recognised status. Typically, a statutory body may be a part of national or local government, or a QUANGO. Some charities, such as the National Trust, are not statutory bodies, but they have certain powers delegated to them, so that they can make their own bye-laws.
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RBI is a statutory body formed under the Reserve Bank of India Act 1934 and not a constitutional body.
A source of law that includes laws passed by legislative bodies such as the US Congress or State Legislatures is known as statutory law. Statutory law refers to the laws created by these legislative bodies and is a primary source of law in the legal system. It includes acts, statutes, codes, ordinances, and regulations passed by these bodies.