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27-693: The Barbados Revenue Authority is a statutory corporation of the Barbadian government that is a revenue service responsible for collecting revenue and taxes . It also provides other functions such as revenue and cashiering for the Barbados Licensing Authority and the Customs Department respectively. It was established on April 1, 2014, by the Barbados Revenue Authority Act, 2014-1 as

54-493: A transit district or special purpose corporations such as a university , are also created by statute. In some states, a city or county can be created by petition of a certain number or percentage of voters or landholders of the affected area, which then causes a municipal corporation to be chartered as a result of compliance with the appropriate law. Corporations to be established for most other purposes are usually just incorporated as any other non-profit corporation , by filing

81-473: A Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments. This is a body corporate created by the legislature with defined powers and functions and is financially independent with a clear control over a specified area or a particular type of commercial activity. It is a corporate person and has

108-466: A commercial basis with less or no political interference.) As statutory corporations, their regulatory and business conditions may be significantly different from private-sector companies. A significant number of the statutory corporations are private commercial operations, a number of which have been privatised, in part or in whole, since the 1980s: these have included the national airline Qantas , Telstra (also previously known as Telecom Australia) and

135-692: A merger between Inland Revenue and Land Tax Departments and the Value Added Tax (VAT) & Excise Divisions of the Customs and Excise Department. It has four divisions: Income Tax Division, Income Tax (Automatic Exchange of Information), Division Land Valuations Division and the Value Added Tax Division. The BRA is housed under the portfolio of the Barbados Ministry of Finance . This Barbados -related article

162-717: A result of the enabling law. There are a number of federally chartered corporations that still exist. Some relatively famous ones include the Boy Scouts of America , each of the Federal Reserve Banks , and the Federal Deposit Insurance Corporation . The basic advantage for being federally chartered is that no other corporation anywhere in the United States is allowed to have the same name. Statute A statute

189-626: A state-owned corporation as "a statutory authority that has corporate status". Current statutory corporations include Australia Post , Airservices Australia , the Australian Rail Track Corporation and the Australian Egg Corporation . The purpose of their separation from normal government operations is to ensure profitability, and in theory, independence of decision making from the state or national government (to ensure that decisions are made on

216-541: A statutory corporation is a body corporate, which is created under a particular Act of the Oireachtas . Some statutory corporations are expected to operate as if they were a commercial company (with or without a subsidy from the Exchequer , depending on whether or not it would make a profit without one). Such bodies do not have shareholders , but are typically boards appointed by a sponsor minister. The provisions of

243-461: Is a stub . You can help Misplaced Pages by expanding it . Statutory corporation Bodies described in the English language as "statutory corporations" exist in the following countries in accordance with the associated descriptions (where provided). In Australia , statutory corporations are a type of statutory authority created by Acts of state or federal parliaments. A statutory corporation

270-413: Is a formal written enactment of a legislative body, a stage in the process of legislation . Typically, statutes command or prohibit something, or declare policy . Statutes are laws made by legislative bodies; they are distinguished from case law or precedent , which is decided by courts , regulations issued by government agencies , and oral or customary law . Statutes may originate with

297-551: Is defined in the federal Department of Finance 's glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may also be a statutory corporation). An earlier definition describes a statutory corporation as "a statutory authority that is a body corporate", and the New South Wales Government 's Land Registry Services defines

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324-471: Is not used to describe a company which operates as a conventional shareholder-owned company registered under the Companies Acts. A public body can have a variety of forms and is not inevitably a statutory corporation, nor is a statutory corporation necessarily a public body. At the state level, municipal corporations and counties are often created by legislative acts. Some organizations such as

351-601: Is the Kowloon-Canton Railway Corporation , which owns the railway network and was previously also an operator. The MTR Corporation Limited was also such a company, then named as Mass Transit Railway Corporation. Other examples include the Ocean Park Corporation , and the former Industrial Estates Corporation and Land Development Corporation . Statutory corporations are government establishments brought into existence by

378-643: Is the general denomination for administrative divisions within the Dutch state or certain other types of governmental organisations. In the United Kingdom , a statutory corporation is a corporate body created by statute . It typically has no shareholders and its powers are defined by the Act of Parliament which creates it, and may be modified by later legislation. Such bodies have often been created to provide public services, examples including British Railways ,

405-655: The Commonwealth Bank . A statutory corporation in Germany is called a Körperschaft des öffentlichen Rechts (KdöR). An example of a statutory corporation is a Kassenärztliche Vereinigung , a body involved in the provision of out-patient medical services in a German state. Other examples include public broadcasters, Jewish communities and Christian churches established in Germany and some public transport providers (depending on jurisdiction). In Hong Kong, some corporations are incorporated by legislation. An example

432-894: The Ffestiniog Railway , the Talyllyn Railway , the National Coal Board , Post Office Corporation and Transport for London . Other examples include the county councils , the National Assembly for Wales , the British Broadcasting Corporation (BBC), Channel Four Television Corporation , and the Olympic Delivery Authority . Statutory corporations are widely used in education: Sixth Form College Corporations and Further Education Corporations,

459-513: The Companies' Acts do not typically directly apply to such bodies, although their founding legislation may specify similar requirements. The statutory corporation format was usually the form most state-sponsored bodies of the Republic of Ireland took until recent years; however, the usual policy today is that a private limited company by shares or public limited company incorporated under

486-609: The Companies' Acts is set up instead, with the relevant minister holding 100% of the issued share capital. Nonetheless, as of 2007 several prominent statutory corporations continue to exist, such as Raidió Teilifís Éireann (RTÉ), the Electricity Supply Board (ESB), Bord Gáis Éireann , An Bord Pleanála , the Food Safety Authority of Ireland . In the Netherlands , the term "public body"

513-679: The Statute of the International Court of Justice and the Rome Statute of the International Criminal Court . Statute is also another word for law. The term was adapted from England in about the 18th century. In the autonomous communities of Spain , an autonomy statute is a legal document similar to the constitution of a federated state , save that it is enacted by the national legislature, rather than

540-512: The autonomous community it governs. The autonomy statutes in Spain have the rank of ley orgánica (organic law), a category of special legislation reserved only for the main institutions and issues and mentioned in the constitution (the highest ranking legal instrument in Spain). Leyes orgánicas rank between the constitution and ordinary laws. The name was chosen, among others, to avoid confusion with

567-477: The capacity of acting in its own name. Statutory corporations therefore have the power of the government and the considerable amount of operating flexibility of private enterprises. A few are: Features: Which define its objectives, power and duties. It is created by a special law Of parliament. It may be established by the central government are also known as National corporations. In the Republic of Ireland ,

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594-486: The code will thenceforth reflect the current cumulative state of the statutory law in that jurisdiction. In many nations statutory law is distinguished from and subordinate to constitutional law . The term statute is also used to refer to an International treaty that establishes an institution , such as the Statute of the European Central Bank , a protocol to the international courts as well, such as

621-508: The exigencies of the moment. Eventually, persons trying to find the law are forced to sort through an enormous number of statutes enacted at various points in time to determine which portions are still in effect. The solution adopted in many countries is to organize existing statutory law in topical arrangements (or "codified" ) within publications called codes , then ensure that new statutes are consistently drafted so that they add, amend, repeal or move various code sections. In turn, in theory,

648-437: The government, or in the form of a series of books whose content is limited to legislative acts. In either form, statutes are traditionally published in chronological order based on date of enactment. A universal problem encountered by lawmakers throughout human history is how to organize published statutes. Such publications have a habit of starting small but growing rapidly over time, as new statutes are enacted in response to

675-542: The legal form of Sixth Form Colleges and Further Education Colleges , as well as Higher Education Corporations, the legal form of most post-1992 universities , are all statutory corporations created under the Education Reform Act 1988 and the Further and Higher Education Act 1992 ; a small number of older universities are also statutory corporations created under specific acts of parliament. The phrase

702-423: The legislative body of a country, state or province, county, or municipality . The word "statute" is derived from the late Latin word "statutum", which means 'law', 'decree'. In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette which may include other kinds of legal notices released by

729-675: The paperwork with the appropriate agency as part of the formation of the entity. At the Federal level, a small number of corporations are created by Congress . Prior to the District of Columbia being granted the ability to issue corporate charters in the late 19th century, corporations operating in the District required a congressional charter . With limited exceptions, most corporations created by Congress are not federally chartered, but are simply created as District of Columbia corporations as

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