Statutory organisations usually established by Acts of Parliament are called

Assessment: JAMB UTME - Economics - 2003 Subject: Economics

Question 1 Report

Statutory organisations usually established by Acts of Parliament are called
Answer Details
Statutory organisations that are usually established by Acts of Parliament are called public corporations. Public corporations are entities that are created by the government through legislation to carry out specific functions or provide certain services to the public. These corporations can be established at the federal, state, or local government level, and they operate independently of the government. Some examples of public corporations include national oil companies, public utilities, and transportation authorities. These entities are often established to provide essential services to the public, such as electricity, water, or transportation. The legislation that establishes a public corporation typically defines its purpose, powers, and organizational structure. The corporation may be overseen by a board of directors or a management team, and it may have the authority to generate revenue through fees or charges for its services. Therefore, the correct answer is option A, public corporations.

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