Variant 01 Standard Evaluation
Scrutinize the administrative changes introduced by the Regulating Act of 1773:
Solution & Analysis
Answer: B
The first statement is incorrect because the Act centralized power, making Bombay and Madras subordinate to the Governor-General of Bengal. The second statement is incorrect because it established only one Supreme Court at Calcutta in 1774, not multiple High Courts. The third statement is correct, as the Act was Parliament's first official recognition of the Company's non-commercial political functions.