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REGULATING ACT OF 1773
↳ The Act was framed on the recommendation of the General Burghic Committee.
↳ The Act was introduced by Lord North (PM of Great Britain).
↳ The British Government took the first step to regulate the affairs of the East India Company (EIC) in India.
↳ It identifies the political and administrative functions of the company.
↳ It laid the foundations of central administration in India.
↳ It designated the Governor of Bengal as the "Governor-General of Bengal".
• He is assisted by four members of the Executive Council.
• The Governors of Bombay and Madras Presidencies were subordinate to him.
• The first such Governor-General was Lord Warren Hastings.
↳ It established the Supreme Court in Calcutta in 1774.
↳ It prohibits private trade and accepting bribes.