<P> The East India Company Act 1784 (Pitt's India Act) had two key aspects: </P> <Ul> <Li> Relationship to the British government: the bill differentiated the East India Company's political functions from its commercial activities . In political matters the East India Company was subordinated to the British government directly . To accomplish this, the Act created a Board of Commissioners for the Affairs of India, usually referred to as the Board of Control . The members of the Board were the Chancellor of the Exchequer, the Secretary of State, and four Privy Councillors, nominated by the King . The act specified that the Secretary of State "shall preside at, and be President of the said Board". </Li> <Li> Internal Administration of British India: the bill laid the foundation for the centralised and bureaucratic British administration of India which would reach its peak at the beginning of the 20th century during the governor - generalship of George Nathaniel Curzon, 1st Baron Curzon . </Li> </Ul> <Li> Relationship to the British government: the bill differentiated the East India Company's political functions from its commercial activities . In political matters the East India Company was subordinated to the British government directly . To accomplish this, the Act created a Board of Commissioners for the Affairs of India, usually referred to as the Board of Control . The members of the Board were the Chancellor of the Exchequer, the Secretary of State, and four Privy Councillors, nominated by the King . The act specified that the Secretary of State "shall preside at, and be President of the said Board". </Li> <Li> Internal Administration of British India: the bill laid the foundation for the centralised and bureaucratic British administration of India which would reach its peak at the beginning of the 20th century during the governor - generalship of George Nathaniel Curzon, 1st Baron Curzon . </Li>

East india company got permission to trade in india during the period of