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Correct Option is Regulating Act of 1773

Regulating Act of 1773 features This act is of great constitutional importance as 1. It was the first step taken by the British Government to control and regulate the affairs of the East India Company in India 2. It recognised, for the first time, the political and administrative functions of the Company 3. It laid the foundations of central administration in India. 4. It strengthened the control of the British Government over the Company by requiring the Court of Directors that was governing body of the Company to report on its revenue, civil, and military affairs in India.

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