Statutory corporation and chartered corporation, Business Law and Ethics

Assignment Help:

Statutory Corporation and Chartered Corporation

Statutory Corporation

However this is created through an Act of Parliament and comes in existence from the date of commencement of the Act.  Thus a case of the statutory corporation is the "Agricultural Finance Corporation".

Whether as section 3(1) of the Act states as "there is hereby established a corporation just to be known like the Agricultural Finance Corporation".

Where there Section 3(3) of the Act states as "the corporation shall be a body corporate by perpetual succession and a common seal".

Chartered Corporation

Conversely a chartered corporation may be created or made under Section 14 of the Universities Act, 1985. Well although Section 12 of the Act empowers the President of US to grant a charter for any private university intended for be set up in US whether in his opinion that the grant of the charter to the Institution concerned might be of benefit to the future development of university education in US.

However S.14 of the Act provides to the publication of the charter in the Gazette and also states as 'with effect from day of the publication of the charter the Institute established through the charter shall be a body corporate through the name cited in the charter'.


Related Discussions:- Statutory corporation and chartered corporation

Ethics in finance, MSc Finance and Management 2012-13 Ethics in Finance E...

MSc Finance and Management 2012-13 Ethics in Finance Ethics in Finance, Assessment Answer ALL THREE questions. This should be your own unaided work (this is an ethics assessmen

Disadvantages of subsidiary legislation, DISADVANTAGES: Whether delega...

DISADVANTAGES: Whether delegated or subsidiary legislation has been criticised just to a variety of reasons, the main ones being that it is:as; (a)   Less democratic Whe

Equity -non-recognition of trusts, Equity -Non-Recognition of Trusts T...

Equity -Non-Recognition of Trusts Therefore the common law did not recognize "trusts".  Like a case whether A conveyed property to B "on trust" for C the common law courts cou

BUSL320, How much for a 1000 word report? Graduate level

How much for a 1000 word report? Graduate level

Suggested actions for addressing phoenix activity, Q. Suggested actions for...

Q. Suggested actions for addressing phoenix activity? The following actions are suggested for addressing phoenix activity. Those that have been suggested are the actions that:

Transactions arising in a liquidation, Transactions Arising In A Liquidatio...

Transactions Arising In A Liquidation: In collection in and realisation of assets in order to pay the company's debts and then to distribute any surplus to members the liquida

Restricted names - name clause , Restricted Names:  Section 17)1) of t...

Restricted Names:  Section 17)1) of the Registration of Business Names Act provides that no company shall be registered under a business name: (a)     which contains any wo

State article 22 of air and outer space law, State Article 22 of air and ou...

State Article 22 of air and outer space law Article  22  states  that  all  the  States  should  prevent  unnecessary  delays  to  aircraft,  crews, passengers and  cargo,  esp

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd