The Charter Act of 1813 (jan 1, 1813 – dec 31, 1813)

Description:

- Spirit of Laissez-faire --> The Company's monopoly over trade in India ended --> but still trade with China and trade of tea in India retained
- Company to retain the possession of territories and the revenue for 20 years more w/o prejudice of the crown ---> constitutional position of the British territories was defined for the 1st time
- Shareholders of the company --> 10.5% dividend on the revenue of India
- Regulations made by the Council of Madras, Bengal, and Bombay to be laid before the British Parliament
- Superintendence and direction of BOC defined and enlarged --> separate account to be kept for commercial transactions and territorial revenues
- Local Government were authorised to impose taxation on people and punishment in case of non-payment
- State's responsibility of Education --> sum of 1lakh rupees set aside for revival, promotion, and encouragement of literature, learning, and science every year
- Christian missionaries were permitted to come in India and preach religion