What is the primary source of authority for statutory bodies?
AConstitution
BExecutive order
CLegislative enactment
DSupreme Court verdict
Answer:
C. Legislative enactment
Read Explanation:
Statutory bodies
- The primary source of authority for statutory bodies is a legislative enactment.
- Statutory bodies are established through the enactment of specific laws or statutes by the relevant state legislatures or the Parliament.
- These laws define the scope, powers, functions, and responsibilities of the statutory bodies.
- The statutes provide the legal framework within which these bodies operate, outlining their roles, organizational structure, and other essential aspects.
Examples for Statutory bodies
- Securities and Exchange Board of India (SEBI):
- SEBI is a statutory regulatory body established by the Government of India through the Securities and Exchange Board of India Act, 1992.
- Its primary objective is to protect the interests of investors in securities and promote the development and regulation of the securities market.
- Medical Council of India (MCI):
- The MCI was a statutory body that governed the medical education and practice in India.
- The Medical Council of India was first established in 1934 under the Indian Medical Council Act, 1933.
- Although it was replaced by National Medical Commission in 25 September 2020.