Q. Consider the following statements regarding the Regulating Act of 1773:
Which of the statements given above is/are correct?
Explanation:
Statement 1 is correct: Regulating the Act of 1773 prohibited the servants of the company from engaging in any private trade or accepting presents or bribes from the natives.
Statement 2 is incorrect: Shareholders in the Company opposed the Act.
Statement 3 is incorrect: The directors of the Company were required to submit all correspondence regarding revenue affairs & civil and military administration to the Government. Thus for the 1st time, the British cabinet was given the right to exercise control over Indian affairs, thereby strengthening the control of British government in Indian affairs.