Pitt's India Act 1784

The East India Company Act (EIC Act 1784), also known as Pitt's India Act, was an Act of the Parliament of Great Britain intended to address the shortcomings of the Regulating Act of 1773 by bringing the East India Company's rule in India under the control of the British Government. Named for British prime minister William Pitt the Younger, the act provided for the appointment of a Board of Control, and provided for a joint government of British India by the Company and the Crown with the government holding the ultimate authority. A six member board of controllers was set up for political activities and Court of directors for financial/commercial activities. The Act provided for not more than six Privy Counsellors, including a Secretary of State and the Chancellor of the Exchequer to be appointed "Commissioners for the Affairs of India". Of these, not fewer than three formed a Board to execute the powers under the Act. The Board was presided over by the president, who soon effectively became the minister for the affairs of the East India Company. Section 3 of the Act provided that the President was to be the Secretary of State, or failing that, the Chancellor of the Exchequer, or failing that, the most senior of the other Commissioners. The Act stated that the Board would henceforth "superintend, direct and control" the government of the Company's possessions,[2] in effect controlling the acts and operations relating to the civil, military and revenues of the Company. The Board was supported by a Chief Secretary. The governing council of the Company was reduced to three members. The governors of Bombay and Madras were also deprived of their independence. The governor-general was given greater powers in matters of war, revenue and diplomacy