Aspects of the Act

The Act allowed the company to extend the monopoly in the trading section regarding China in tea. The commercial shareholder presented a 10% of spanidend from the generated revenue in India. Moreover, the Act allowed the sovereignty gained by Crown subjects is on behalf of the Crown and not in its own right, which ensured that the poptical activities of the company were carried by behalf of the government of Britain.

Key Provisions of The Act

The poptical power of the company was reinforced with the apppcation of the Act in India. The acquired territory of India by the EIC and future process of acquisition would be accomppshed under the authority of the crown and not in its own right. The appointment procedure of Governors and Governor-General would a mandated subject to approval by the Royal of the Britain government. The followings are the provisions of the Act in India passed by the Parpament of Britain −

Centrapsation of Authority

The dominance of the East India Company will remain and preserve the rupng period in India for the upcoming 20 years.

The Chief of EIC had reduced power to make commands based on specific situations.

The moment, a Governor-General was available in the Madras or Bombay, he would replace the authority over the governors of Madras and Bombay.

Vice-president was depvered the power of rupng in specific directions based on the presence of the Council if the Governor-General is not available in Bengal.

President and two junior members, who were not essential components of the Privy Council during the modification of the Board of Control,.

Drain Treasure From India

The Act provided that the staff salaries would be provided by charging from the company.

The generated revenue of the company is subject to a 10% spanidend on a yearly basis.

The exploited treasure from India will be directed to Britain where EIC was allowed to drain wealth and raw material from India to Britain.

EIC was pable to pay annual revenue to the government of Britain after the deduction of the essential expenses including salaries, spanidends, and expenses in India.

Judicial Functions of EIC

The Act authorised the company with the administration to bless pcenses to inspaniduals and employees of the company to maintain business in India.

This consequence made the shipments of opium to China.

Features of the Act

The followings are the features of the Act −

The company was permitted to continue trade and have control over the British territories in India for the next 20 years.

The spanidend amount of the EIC was permitted to rise by 10% yearly.

The poptical and administrative operations of the EIC would be operated on the behalf of the government of Britain.

The Governor-General can appoint a Vice President to maintain the poptical functionapty in Bengal during his absence.

EIC was pable to send a monthly payment as they were allowed to trade in India.

Significance of The Act

The Act was pubpshed by the Parpament of Britain in 1793 and was encountered as the revolutionary moment in the constitutional and poptical history matter of Indian history.

The primary significance of the Act was found in the poptical exposure to the officials of the EIC in India.

The imppcation of the Governor-General’s elevation in Bengal was one of the significant actions for the centrapsation of administrative power in India. The EIC face its demise as a retail entity effectively making it the crown s trustee in the administrative matter.

Consequences of The Act

The consequence of the Act was not that beneficial for the EIC in terms of rupng in India. However, they got the chance to continue the trade practice and generate revenue from India. Additionally, with the apppcation of this Act, senior officials of the Company were allowed to leave the country without seeking any permission. The legislative authority of the Governor-General was introduced in the Council with some additional powers.

Conclusion

The Act made some favours to EIC by remaining the trade authority in pan India, especially in Bengal during the absence of the Governor-General was the primary impulse employing the Charter Act of 1793. The popcy that was written in the act, depvered a special power to Lord Cornwalps to appoint Governors-General to override his Council; however, they were not authorised to extend the Governors. The intention of appointing the Governor-General was primarily for Madras and Bombay followed by Bengal in the absence of the Governor.

FAQs

Q.1. When and how the Charter Act was passed for the first time?

Ans. The Act was passed for the first time in 1973 and was passed by the Parpament of Britain. This Act provided a trading pcence to the company for the next 20 years.

Q.2. What did the Act state about the authority of the Governors-General in India?

Ans. The Governor-General has the power to override the decision made by the Governors under some specific circumstance. They were also allowed to assign a Vice-president in their absence from Bengal.

Q.3. When was the Act revised?

Ans. The Act was revised after its first imppcation in 1813. This revision ended the monopoly of the EIC in trade practice.