The Regulating Act of 1773 established the role of Governor-General of Bengal to oversee the East India Company's territories in India. Warren Hastings became the first Governor-General, and the Act created a Supreme Council in Bengal to assist the Governor-General in governing. The Act aimed to reform the East India Company's administration in India and curb corruption among its servants. It placed the presidencies of Bombay and Madras under the authority of the Governor-General in Bengal on matters of foreign policy and war.
2. The Regulating Act of 1773 was an Act of
the Parliament of Great Britain intended to
overhaul the management of the East India
Company's rule in India.
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.
3. The Governor General of India and his
council of 4 members got a legal status. As
per the act, Office of the Governor-General of
the Presidency of Fort William was created in
1773, and on 20 October 1773, Warren
Hastings became the first Governor General
of India.
4. The Act limited Company dividends to 6% until
it repaid a £1.5M loan (passed by an
accompanying act, 13 Geo. 3 c. 64) and
restricted the Court of Directors to four-year
terms.
It prohibited the servants of company from
engaging in any private trade or accepting
presents or bribes from the natives.
5. The Act elevated Governor of Bengal, Warren
Hastings to Governor-General of Bengal and subsumed
the presidencies of Madras and Bombay under Bengal's
control.
The Act named four additional men to serve with the
Governor-General on the Supreme Council of
Bengal: Lt-Gen John Clavering, George Monson, Richard
Barwell, and Philip Francis. Barwell was the only one
with previous experience in India. These councillors
were commonly known as the "Council of Four".
A supreme court was established at Fort
William at Calcutta. British judges were to be sent to
India to administer the British legal system that was
used there.
6. On 18 May 1773 Lord North introduced the Regulating
Bill in the House of common
It had three main objectives
Reform the constitution of Co.
Reform the Co.’s Government in India
To provide remedy against the illegalities and
oppressions committed by the servants of the co. in
India
7. This act unequivocally established the supremacy of
the Presidency of Bengal over the others. In matters
of foreign policy, the Regulating Act of 1773 made
the presidencies of Bombay and Madras, subordinate
to the Governor General and his council. Now, no
other presidency could give orders for commencing
hostilities with the Indian Princes, declare a war or
negotiate a treaty.
The act forbade the servants of the company to
accept presents and bribes, to curb the corruption.
It established a supreme court at Fort William,
Calcutta and India’s modern Constitutional History
began.
8. Election of the Director: The Director of the co.
elected for 4 years and 14 of them retired every year
and retiring Director was not entitled to be elected
again
The effect of this provision was to secure stability and
continuity in the policy of Directors
