Question

why did the British Parliament passed the regulating act of 1773 according to Pearson class 8 SST Book

Answer 1

to regulate and control the company's affairs

Answer 2

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The British passed the regulating act of 1773 because-

1. The three presidencies were controlled directly by the governor general and his council.

2. There was mismanagement of finances made by the company due to which they had taken a loan of one million pound sterling.

3. The British wanted to maintain monopoly.

4. The company had lost monopoly in selling tea to North America.

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