Statutory corporation and chartered corporation, Business Law and Ethics

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'.

Posted Date: 1/22/2013 12:41:12 AM | Location : United States







Related Discussions:- Statutory corporation and chartered corporation, Assignment Help, Ask Question on Statutory corporation and chartered corporation, Get Answer, Expert's Help, Statutory corporation and chartered corporation Discussions

Write discussion on Statutory corporation and chartered corporation
Your posts are moderated
Related Questions
Explain the Nuclear law Nuclear law Nuclear Law is a branch of International Law that surrounds, regulates and administers issues regarding nuclear weapons. It is also ass

State about the Security Council of United Nations? The Security Council: The Security Council has main responsibility for the preservation of international peace and sec

What is the  use of self defence The controversy regarding the use of self defence is the 'anticipatory self-defence'. Those with a restrictive view state that it no longer e

Empowers directors - company management: In the case of companies which have adopted Table A, Article 107 empowers directors to appoint a managing director "for such period an

Legal Environment of Business Inventions "R Us (IRU) advertises invention development services and has aggressively advertised its services on-line, in magazines, and on radio

Societies:                 Societies are associations registered under the Societies Act 1968. Section 2(1) of the Act defines a society very broadly as including any club, co

Effect of Registration: S.16(2) of the Act provides that "from the date of incorporation mentioned in the certificate of incorporation the subscribers to the memorandum of a

Dishonour by Non-Acceptance The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said

Alien Tort Claims Act Problem: You work at a New York law firm and have been invited by the partner you work for to attend a meeting with Mrs. Esther Kiobel and a dozen

JURISDICTION  According to Peter Stephen Du Ponceau, an international lawyer from Philadelphia, Jurisdiction, in its most general sense means; "The power to make, declare, o