Concept:Public corporations and parastatals are government-owned bodies created to provide services or run commercial activities for the state.
Explanation:Public corporations and parastatals are not set up by private individuals, trade unions, or international organizations.
They are legally established by the government through formal legislation.
This means the legislature passes a specific act or statute that creates the corporation and defines its powers, duties, and structure.
Examples include statutory boards and government agencies that operate independently but remain accountable to the government.
Therefore, legislative acts and statutes are the proper legal basis for establishing public corporations and parastatals.
Answer:B. legislative acts and statutes