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CHARTER ACT 1853 (IMPORTANCE (No stipulated time period was mentioned for…
CHARTER ACT 1853
IMPORTANCE
No stipulated time period was mentioned for Charter renewal indicating that Company's possession could be terminated anytime
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For the first time legislation was treated as a special function of the Government with separate system and process
PROVISIONS
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Reduction of number of Directors from 24 to 18, out of which 6 were to be nominated by the Crown
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Legislative Provisions
Council members includes one representative from each province Bombay, Bengal, Madras and North West Province
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