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
QUESTION 1 Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other QUESTION 2 (a) Examin

What is the major issue concerning the international law The major issue concerning the international law is its implementation within the domestic system. A State can enforce

QUESTION 1 Your mother makes delicious cakes and your wife suggests the idea of setting up a business to market these products. The cakes will be prepared by your mother and a

Relief from Liability: Under s.402(1) the court has power in an action against an officer for breach of duty to grant relief where, although the officer is in breach, it appea

Explain United Nations General Assembly A treaty may also be referred to as a Convention, Protocol, Agreement and Declaration. There are no legal reasons for using different na

Nemo Dat Quod Non Habet - Goods Therefore another common law maxim such applies to sale of goods is like "nemo dat quod non habet": whether a person cannot give such he does

Publication of Bills in the England Gazette: Such there order 98 which offers that no Bill shall be intract unless it has been published in the Gazette and a certain time of f

QUESTION 1 (a) Compare and contrast the different rules and features governing the burden and standard of proof in both civil and criminal cases (b) The art of advocacy is n

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

Determine the levels of Policy perspective Policy perspective, analysis can be made on three levels, state-system level, the nation-state level and the decision making level. T