Q. Consider the following statements regarding Regulating Act, 1773:
1.The Act imposed on the court of Directors the legal obligation of informing all revenue transactions of the Company servants to the British Treasury.
2.The Governor and Council consisting of the Commander-in-Chief and two counselors sat as a Board of Revenue which discussed revenue matters.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Explanation: The Regulating Act of 1773 imposed on the court of Directors the legal obligation of informing all revenue transactions of the Company servants to the British Treasury.

  • The Governor and Council consisting of the Commander-in-Chief and two counsellors sat as a Board of Revenue which discussed revenue matters.
  • The Pitt India Act of 1784 separated the civil and military establishments in India.

Source: Tamil Nadu NCERT