Statutory corporation
A statutory corporation is like a special company that the government creates to do important things. It's like making a new team to play a sport or a game, but this team works for the government.
When the government creates a statutory corporation, it gives it rules to follow and things it has to do. These rules help the statutory corporation to do its job well and make sure that it's doing things in the best way for everyone.
The statutory corporation is also given certain powers to help it do its job. It's like giving your toy robot some special buttons to make it move or light up. These powers help the statutory corporation to get things done and make sure that its job is done well.
The people who work for the statutory corporation are called employees. They work for the government, but they work specifically for the statutory corporation. They have to follow the rules and use the powers that the corporation has to do their job.
Overall, a statutory corporation is a special team that the government creates to do important things. It has rules, powers, and employees to help it do its job well.
When the government creates a statutory corporation, it gives it rules to follow and things it has to do. These rules help the statutory corporation to do its job well and make sure that it's doing things in the best way for everyone.
The statutory corporation is also given certain powers to help it do its job. It's like giving your toy robot some special buttons to make it move or light up. These powers help the statutory corporation to get things done and make sure that its job is done well.
The people who work for the statutory corporation are called employees. They work for the government, but they work specifically for the statutory corporation. They have to follow the rules and use the powers that the corporation has to do their job.
Overall, a statutory corporation is a special team that the government creates to do important things. It has rules, powers, and employees to help it do its job well.