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Correct Option is 1 and 2

The Act for the Good Government of India or Government of India Act 1858 This significant Act was enacted in the wake of the Revolt of 1857—also known as the First War of Independence or the sepoy mutiny. 1. Abolished the East India Company.Hence statement 1 is correct 2.It transferred the powers of government, territories and revenues to the British Crown. Hence statement 2 is correct. 3.It changed the designation of the Governor-General of India to that of Viceroy of India. Viceroy was the direct representative of the British Crown in India. Lord Canning (1858-1862) became the first Viceroy of India Hence statement 3 is not correct. 4.It ended the system of double government by abolishing the Board of Control and Court of Directors. This Act was largely confined to the improvement of the administrative machinery by which the Indian Government was to be supervised and controlled in England. It did not alter in any substantial way the system of government that prevailed in India.

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