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What are the Advantages and disadvantages of statutory corporation?
The advantages of statutory corporations are as follows:-(1)Formation: Formation of Statutory Corporations is easy. It can be easily formed by passing Special Act, either at Legislature Assembly or at Parliament.(2) Autonomy: Statutory corporations can have its own working pattern. There is no political interference in day to day working of corporation.(3) Flexibility: Statutory corporations enjoy full flexibility in its operations. It is free to take any decision relating to capital collection. Investment, market, production, recruitment, planning, accounting & the decision once taken can be easily changed.(4)Capital Raising: Government contributes the capital at large for statutory corporations, but statutory corporations are free to collect capital from general public.(5) Quick Decisions: Quick decisions are possible because all policy decisions are taken by the Board & board can implement these decisions easily. There is no interference of government in any type of decisions.(6) Staff Members: Statutory corporations is free to have its own recruitment policy. It can recruit, promote, and transfer any employee / officer as per its requirement.(7) Economies of Scale: Statutory corporations operates on large scale & enjoy the economies of large scale operations.(8) Separate Entity: Like joint stock company, statutory corporations enjoys separate legal status.(9) Self Accounting System: Statutory corporations is free to have its own accounting pattern. It need not follow Budgetary Accounting & Audit Control of government. It is free to prepare its own budget.(10) Social Welfare: The main object of statutory corporations is to provide necessary services at a lower price. It works for protecting the interest of common people. Hence society at large is benefited.The disadvantages of statutory corporations are as follows;-(1) Difficult Formation: It is very difficult to form statutory corporations because it requires lengthy documentation, complicated formalities & passing of statue.(2) Rigidity: The policies once approved, the statue once passed cannot be changed easily. It can be done by the parliament only & this is very time consuming.(3) Political Interference: Statutory corporations are subject to political interference & this affects the efficiency of the corporation.(4)Suitability: Statutory corporations is suitable only for giant size business but is not suitable for small size business.(5) Inefficiency: Statutory corporations always lacks efficiency. This is because of rigid policies of management or the government.(6) Monopoly: Statutory corporations enjoy total monopoly & private sector cannot compete with it. This encourages monopoly & defeats the motive of statutory corporations.(7) Wastage of Resources: There is often wastage of physical, capital and manpower resources in several cases.
What are examples of nonbank financial institututions?
Finance corporations development corporations
What is a statutory organisation?
A statutory organisation is one that has to exist - by law. Examples would be the police services, county and town councils.
Examples of stock and non- stock corporations?
company
2 The violation and prosecution of statutory laws are examples of?
Criminal Law
The postal service and amtrak are examples of?
Government Corporaations
What is a statutory body.Who are the statutory bodies of India?
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.
The postal service and AMTRAK are examples of Cabinet departments government corporations independent agencies or regulartory agencies?
independent agenciesWrong. Government Corporations.
What are the conglomerate organizations?
General Electric and United Technologies are examples of conglomerate corporations.
What are a few examples of transnational corporations?
Transnational corporations are companies that operate its business in a number of countries. For example, The American company congolmerate General Electric and Enron.
What are some examples of statutory law for New York State?
Every single law passed by the state legislature is a statutory law. Just open a lawbook and pick one or two.
What are examples of general intent crimes?
1.Forcible Rape (*Not Statutory Rape) 2. Battery 3. Assault
