Bissoy.com
Doctors Medicines MCQs Q&A

Consider the following statements with reference to Regulating Act, 1773. 1. It was an effort to control and regulate the functioning of the East India Company. 2. It totally subjected the activities of the East India Company under the British Government. 3. A board of control was established. Which of the above statement(s) is/are correct?

Consider the following statements with reference to Regulating Act, 1773. 1. It was an effort to control and regulate the functioning of the East India Company. 2. It totally subjected the activities of the East India Company under the British Government. 3. A board of control was established. Which of the above statement(s) is/are correct? Correct Answer <p>1 only</p>

The correct answer is option 1, i.e 1 only.

Key Points

  • Regulating Act, 1773, permitted the company to retain its territorial possessions in India but sought to regulate the activities and functioning of the company. Hence, Statement 1 is correct.
    • It did not take over power completely, hence called ‘regulating’. Hence, Statement 2 is NOT correct.

Additional Information

  • The act provided for appointment of a Governor- General along with four Councillors in the Presidency of Fort William (Calcutta), jointly called the Governor-General in Council.
    • As per this, Warren Hastings was appointed as the Governor-General of the Presidency of Fort William.
    • The Governors in Councils at Madras and Bombay were brought under the control of Bengal, especially in matters of foreign policy.
    • Now, they could not wage war against Indian states without Bengal’s approval.
    • The company directors were elected for a period of five years and one-fourth of them were to retire every year. Also, they could not be re-elected.
    • The company directors were directed to make public all correspondence on revenue, civil and military matters with Indian authorities before the British authorities.
    • A Supreme Court of Judicature was established at Calcutta with Sir Elijah Impey as the first Chief Justice.
    • Judges were to come from England.
    • It had civil and criminal jurisdiction over the British subjects and not Indian natives.

Mistake Points

  • Board of control was established by Pitts India Act, 1784. Hence, Statement 3 is NOT correct.

Related Questions

Which of the statements given below is/are correct? a) Warren Hastings was the first Governor-General who established a regular police force in India on the British Pattern. b) A Supreme Court was established at Calcutta by the Regulating Act, 1773. c) The Indian Penal code came into effect in the year 1862.
Which of the following statements relating to the Government of India Act, 1858 is/are correct? 1. The British Crown assumed sovereignty over India from the East India Company. 2. The British Parliament enacted the first statute for the governance of India under the direct rule of the British. 3. This Act was dominated by the principle of absolute imperial control without any popular participation in the administration of the country. Select the correct answer using the code given below.
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments and which is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: World’s largest beer maker Heineken NV, the majority partner of United Breweries with Vijay Mallya, is understood to have sought legal opinion over its right to appoint a chairman at the Indian company. Heineken and some of its advisers believe that the shareholder agreement between Mallya and the beer giant has become null and void after India’s Enforcement Directorate attached his shares as part of its legal action against the liquor baron. Which among the following arguments support the above statement in the best possible manner? Arguments: I. UBL has stopped sharing confidential information with Mallya and has said that he is no longer privy to any strategic developments.  II. The board of UBL, India’s biggest beer company, had asked Mallya to either step down or appoint a nominee after the Securities and Exchange Board of India barred wilful defaulters from holding key board positions last year.  III. The company is functioning well and operations are in good shape but it is not good corporate governance to have an acting chairman for so long.
Consider the following statements/provisions It was the first step taken by the British Government to control and regulate the affairs of the East India Company in India It recognized, for the first time, the political and administrative functions of the Company It laid the foundations of central administration in India Which of the following acts is being discussed in the above provisions?
Consider the following statements about Central Board of Direct Taxes (CBDT). (a) The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. (b) It provides essential inputs for policy and planning of direct & Indirect taxes in India. (c) The CBDT is headed by CBDT Chairman and it comprises of seven members. (d) It is India’s official Financial Action Task Force unit. Which of the following statements are correct about CBDT? Select the correct answer using the code given below:
With reference to activities under the Non Cooperation movement, consider the following statements: 1. Boycott of government aided colleges. 2. Boycott of British courts. 3. Surrender of titles and honorary offices. 4. Programme of council entry to obstruct the British activities. Which of the statements given above are correct? 
Which of the following statement is/are true about the Regulating Act of 1773. I. This act was based on the reports of Committee headed by the British Prime Minister Lord North II. A Supreme court was established in Calcutta as a result of the Act III. Sir Elijah Impey was appointed as the first Chief Justice.
Which of the statements given above is/are correct? a) The Charter Act 1853 abolished East India Company’s monopoly of Indian Trade. b) Under the Government of India Act 1858, the British Parliament Abolished the East India Company altogether and undertook the responsibility of ruling India directly.
The following are the conditions for selecting list of a suitable candidates to be called for interview after the written test for the recruitment is conducted/ organized for management-level persons of a multi-national company. For providing accounting services and sales the candidate must (a) be holding a graduation in basic science with 65% or above or B.E degree with 55% and above marks (b) have passed the written test with 70% or above marks (c) the age must be in the group 25 to 30 yrs as on 1/4/18 (d) have experience in an accounting firms for three yrs and diploma in accounting with 60% or above marks (e) be presently drawing CTC of 6 Lakhs per annum and above In case the applicant who satisfies all other terms above except 1) at (a) above, then be referred as Junior Accountant 2) at (d) & (e) above then be referred as Trainee-Accountant Satisfying all the above with experience of 5 yrs then be referred as senior-Accountant Satisfying all the above criteria (a-e) with CA/ ICWA/ MBA (Finance) then be refereed as manager (Accounts) Read all the above information and answer the following question: Radha Mohan has done her graduation in physics with 58% of marks. She has passed the written examination with 76% of marks. She is 27 yrs as on June 2018. She has the experience in the accounting company for four years with salary of 7 Lakhs per annum. She also has passed diploma in accounting with 61% of marks. She may be referred for the position of:
With reference to the "Tea Board" in India, consider the following statements: 1. The Tea Board is a statutory body. 2. It is a regulatory body attached to the Ministry of Agriculture and Farmers Welfare. 3. The Tea Board's Head Office is situated in Bengaluru. 4. The Board has overseas offices at Dubai and Moscow. Which of the statements given above are correct?