Discuss the main provisions of the Regulating Act.
The Regulating Act reformed the Company’s Government at Home and in India. The important provisions of the Act were:
- The term of office of the members of the court of directors was extended from one year to four years one-fourth of them were to retire every year and the retiring directors were not eligible for re-election.
- The Governor of Bengal was styled the Governor-General of-Fort William whose tenure of office was for a period of five years.
- A council of four members were appointed to assist the Governor-General. The government was to be conducted in accordance with the decision of the majority. The Governor- General had a casting vote in case of a tie.
- The Governor-General in council was made Supreme over the other presidencies in matters of war and peace.
- Provision was made in the Act for the establishment of a Supreme Courtat Calcutta consisting of a Chief Justice and three junior judges. It was to the independent of the Governor-General in council. In 1774, the Supreme Court was established by a Royal Charter.
- This Act prevented the servants of the Company including the Governor-General members of his council and the judges of the Supreme Court from receiving directly or indirectly any gifts in kind or cash.