what was regulating act of 1773
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The Regulating Act 1773 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.
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.The Act limited Companydividendsto 6% until it repaid aGB£1.5Mloan (passed by an accompanying act, 13 Geo. 3 c. 64) and restricted theCourt of Directorsto four-year terms.[4]*.It prohibited the servants of company from engaging in any private trade or accepting presents or bribes from the natives.*.The Act elevated Governor ofBengal,Warren HastingstoGovernor-General of Bengaland subsumed the presidencies ofMadrasandBombayunder Bengal's control.[4]It laid the foundations for a centralized administration in India. Governor of Bengal became the Governor General of Bengal with an executivecouncil of four to assist him. Decisions wouldbe taken by majority and Governor General could only vote in case of tie.
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