» This Act was based on the report of a committee headed by the British Prime Minister Lord North.
» Governance of the East India Company was put under British parliamentary control.
» The Governor of Bengal was nominated as Governor General for all the three Presidencies of Calcutta, Bombay and Madras. Warren Hastings was the first such Governor General.
» A Supreme Court was established in Calcutta (now Kolkata).
» Governor General was empowered to make rules, regulations and ordinances with the consent of the Supreme Court.