public corporation

public corporation
   Many of the well-known public corporations of the post-1945 era were established to run the amenities and industries nationalised by the Attlee Government. Their general features were that the boards were ‘corporate’ (meaning that they had a legal identity, could own property and be sued), owned and controlled the assets of the industry, were provided with general responsibilities in the act of nationalisation, operated under the supervision of a government minister who appointed board members and were free from HM Treasury control over finance and staffing. The intention behind their creation was to harmonise the dynamic enterprise associated with the private sector, public accountability and concern for the general good character of the public sector. However, their alleged benefits were not recognised by the Conservative administrations of the 1980s and 90s which privatised many of the utilities and industries formerly run by corporations. The British Broadcasting Corporation is the best-known example of a public corporation today, dependent on government for its income (from the licence fee) but able to determine its own programming and staffing arrangements.

Glossary of UK Government and Politics . 2013.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • public corporation — Public and private corporations. A public corporation is one created by the state for political purposes and to act as an agency in the administration of civil government, generally within a particular territory or subdivision of the state, and… …   Black's law dictionary

  • public corporation — Public and private corporations. A public corporation is one created by the state for political purposes and to act as an agency in the administration of civil government, generally within a particular territory or subdivision of the state, and… …   Black's law dictionary

  • public corporation — see corporation Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. public corporation …   Law dictionary

  • public corporation — ➔ corporation * * * public corporation UK US noun [C] ► US FINANCE PUBLIC COMPANY(Cf. ↑public company): »Automakers are profit driven public corporations. ► …   Financial and business terms

  • public corporation — A state owned organization set up either to provide a national service (such as the British Broadcasting Corporation) or to run a nationalized industry. The chairman and members of the board of a public corporation are usually appointed by the… …   Big dictionary of business and management

  • public corporation — UK / US noun [countable] Word forms public corporation : singular public corporation plural public corporations American a public company …   English dictionary

  • public corporation — corporation whose shares can be purchased and sold on the stock market; corporation owned and operated by the government formed to administrate certain public programs …   English contemporary dictionary

  • public corporation — public corpo ration n 1.) AmE a ↑public company 2.) BrE a business that is run by the government …   Dictionary of contemporary English

  • public corporation — public corpo ration noun count AMERICAN a company whose SHARES you can buy on the STOCK EXCHANGE …   Usage of the words and phrases in modern English

  • public corporation — A municipal or political corporation. A corporation with political powers. Phillips v Baltimore, 110 Md 431, 72 A 902. A corporation created for public purposes only, connected with the administration of the government, the interests and… …   Ballentine's law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”