state the main provision of the regulating act of 1773
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The Regulating Act of 1773 (formally, the East India Company Act 1772) was an Act of the Parliament of Great Britain intended to overhaul the management of the East India Company's rule in India.[1] The Act did not prove to be a long-term solution to concerns over the company's affairs; Pitt's India Act was therefore subsequently enacted in 1784 as a more radical reform. It marked the first step towards parliamentary control over the company and centralised administration in India.
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