Features, Merits and Demerits of Statutory Corporations

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These are organisations started by passing a special Act in the State or Central Legislature. It is a combination of Public ownership and Public accountability.

Features of Statutory Corporation

1. Incorporated by special Bills/Acts in parliament

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2. Separate legal entity.

3. State control.

4. Nominated directors of Government.

5. Service motive.

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6. Employment conditions fixed by corporations.

Merits of Statutory Corporations

1. Autonomy of operation

2. Absence of political interference.

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3. Quick and prompt decision.

4. Absence of exploitation.

5. Ease of raising capital.

Demerits of Statutory Corporations

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1. No flexibility in operation.

2. Misuse of powers.

3. Lack of efficiency.

4. Not easy to alter activities.

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5. Political interference could be there.

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