Which British company was effectively the ruler of much of India until the India Act of 1858?
Government of India Act 1858 Government of India Act 1858 The Government of India Act 1858 was an Act of the Parliament of the United Kingdom (21 & 22 Vict. c. 106) passed on August 2, 1858. Its provisions called for the liquidation of the British East India Company (who had up to this point been ruling British India under the auspices of Parliament) and the transference of its functions to the British Crown. Lord Palmerston, then-Prime Minister of the United Kingdom, introduced a bill for the transfer of control of the Government of India from the East India Company to the Crown, referring to
East India Company to rule large areas of India with its private armies, exercising military power and assuming administrative functions. Company rule in India effectively began in 1757 and lasted until 1858, when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown's assuming direct control of the Indian subcontinent in the form of the new British Raj. Despite frequent government intervention, the company had recurring problems with its finances. It was dissolved in 1874 as a result of the East India Stock Dividend Redemption Act passed one year earlier, as the Government of India Act