Exploring the Definition and Purpose of a Statutory Company Beállítások

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A statutory company is a type of corporate entity that is established by a special act of the government. This act provides the company with a legal framework that defines its rights, powers, and obligations. Statutory companies are typically set up to provide public services, such as transportation, utilities, or banking, and are usually owned or controlled by the government. These companies are subject to specific rules and regulations, including financial reporting requirements and governance standards, that are designed to ensure their accountability and transparency to the public.