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. It is created by the special act of Parliament or by the central or state legislature. It is fully financed by the government

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It is created by the special act of Parliament or by the central or state legislature. It is fully financed by the government

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A statutory corporation is a body corporate formed by a special act of parliament or by the central or state legislature. It is fully financed by the government. Its powers, objects, limitations etc. are also decided by the act of the legislature.

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