EAST INDIA COMPANY ACT 1793
About
- Also called Charter Act of 1793
- Renewed the charter issued to EIC
- Made other minimal changes
Imp Points
- EIC trade monopoly was –> extended by 20 years
- Salaries of Staff and Board of Control members were -> charged on EIC
- Governor-General was granted
- more powers over subordinate presidencies –> Bombay & Madras
- power to over-rule his council
- in special cases
- this power was extended over Governors of subordinate presidencies
- Senior EIC officials were -> forbidden from leaving India without permission
- Royal approval was mandated for appointment of
- Governor-General
- Governors
- Commander-in-Chief
- Act continued EIC rule over British territories in India
- Act clearly stated EIC’s political functions were on behalf of British government
- “acquisition of sovereignty by subjects of Crown is on behalf of Crown and not in its own right”
- EIC dividends were raised to 10%
- BOC composition was modified to have
- 1 President
- 2 junior members (not necessarily from Privy Council)
- EIC was to now pay Crown 5 Lakhs from Indian revenue annually
- East India Company was given power to
- grant licenses to individuals & EIC employees – to carry on trade in India
- this was known as ‘privilege’ or ‘country trade’
- it led to shipments of opium to China
- Act separated Revenue administration & Judiciary functions of EIC
- Led to decline of Maal Adalats (revenue courts)
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Sumit is Creator and Author at learncrisp.com. He started this learning platform with a mission to emerge as an aspirants resource hub, especially for those preparing in self study mode. He loves writing and his interests are History, Security and Diplomacy.