Regulating Act of 1773- It designated the Governor of Bengal as the ‘Governor-General of Bengal’ and created an Executive Council of four members to assist him. The first such Governor-General was Lord Warren Hastings.
- Supreme Court was introduced at Calcutta.
- The act barred the members of the council as well as the governor-general to accept any kind of gift.
- The government in the presidency of Madras and Bombay was made subordinate to the government in Calcutta.
- The significance of the Regulating Act is that it brought the affairs of the Company under the control of the Parliament.
- Besides, it proved that the Parliament of England was concerned about the welfare of Indians.
- The greatest merit of this Act is that it put an end to the arbitrary rule of the Company and provided a framework for all future enactments relating to the governing of India.
Note: There was a practice of corruption in the company and the company was not performing well hence, the Regulating Act of 1773 was introduced.
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