statutory co is a company which is passed by a special act by central or state legislature.like-indian railway,icai etc.
This co dont required to have its MOA because the rules $ regulation are alredy written in such Act.
the audit of such co is conducted by CAG
what are the statutory reserves of a company?
shareholders
Statutory means it is required by Law. Regulatory means it is required my regulatory bodies such as the FSA in Great Britain and Northern Ireland.
what is the difference between statutory audit and non statutory audit.
statutory expenses
what are the statutory reserves of a company?
public company needs a statutory report
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pubic company
Answer: legal and statutory reserves There is no difference. Both legal and statutory reserves are reserves that must be maintained by law. The previous answer ("Legal reserves are stipulated by law, while statutory reserves are determined in the Articles of Association (the Statute of a company)") is incorrect: the primary meaning of 'statutes' is 'enacted laws'
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
shareholders
A statutory body deals with enforcing legislation for a country or state. An autonomous body is a company that regulates its own company law.
the meaning of statutory involves all the organisations that are set up, controlled and funded by the government. For example public school and NHS run hospitals. The statutory sector is funded by people who pay taxes and national insurance etc.
yes
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 Texas Constitution is a statutory meaning that the constitution incorporates detailed provisions in order to limit the powers of the government.