REGULATING ACT - 1773
By passing the Regulating Act, the British government regulated the affairs of the East India Company in India for the first time. Through this act, the British government for the first time entrusted political and administrative functions to the East India Company. For all these reasons this Act has assumed a great deal of strategic importance.
Features of the Act:-
1) This Act changed the Governor of Bengal to the Governor General of Bengal. The Governor General of Bengal constituted an Executive Council of 4 members to assist in administration. Warren Hanstings was the first such Governor General
2) By this Act the Governors of Bombay and Madras Provinces were made subordinate to the Governor General of Bengal. Before this Bombay, Madras and Bengal provinces were independent from each other.
3) This Act allowed for the establishment of a Supreme Court in Calcutta consisting of a Chief Justice and three other judges.
4) This Act enjoined the employees of the East India Company from engaging in any private business and from accepting gifts or bribes from natives.
5) The Act directed the Board of Directors, the governing body of the Company, to report to the British Government in relation to revenue, civil and military affairs in India. This strengthened the British government's control over the company. Overall, this act enabled the British government to get involved in India's economy.
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