Modern History Simplified: The Charter Act of 1793

The Charter Act of 1793
  1. The Act renewed the Company’s commercial privileges for the next 20 years.
  2. The Company, after paying the necessary expenses, interest, dividends, salaries, etc., from the Indian revenues, was to pay 5 lakh pounds annually to the British government.
  3. Senior officials of the Company were debarred from leaving India without permission—doing so was treated as resignation.

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