Codification of laws was taken up for the first time.Centralization of the administration reached new heights.The British Parliament abolished slavery in Britain and all its possessions in 1833.The act provided for the Presidency of Bengal to be divided into the Presidencies of Agra and Fort William.Lord Macaulay was the first chairman of this commission An Indian Law Commission was appointed under the provisions of the act.However, since the passage of this act, it came to be known as Acts The laws made under previous acts were called regulations.Attempted to introduce a system of open competition for selection of civil servants.Ended the commercial activities of EIC completely.All law making powers now vested with Governor-General of India It deprived the governor of Bombay and Madras to make laws.Lord William Bentinck was first governor-general of India.All civil and military powers were vested in him It made the governor-general of Bengal as governor general of India.The act permitted Christian missionaries to propagate English and preach their religion. It was to set aside Rs.1 Lakh for this purpose. The company was asked to take up a greater role in the education of the Indians under them.It provided for a financial grant towards the revival of Indian literature and the promotion of science.However, trade with China and the tea and opium trade, the company still retained its monopoly. British merchants were allowed to trade in India under a strict licensing system under the Charter Act of 1813.The company’s rule was extended to another 20 years.Background: Napoleonic wars and the miseries it caused prompted the traders to pressurize the government to end the monopoly in trade that EIC enjoyed.British government was given the supreme control over Company’s affairs and its administration in India.First time company’s possession was called as British possessions.Board of Directors was empowered to supervise and direct all operations of the civil and military government or revenues of the British possessions in India.Double government: Created a new Board of Directors to manage the political affairs while commercial affairs were managed by the court of directors of EIC.It distinguished between political and commercial functions of the company.Importance of the act: It was the first attempt in India towards separation of the executive from the judiciary by defining the respective areas of jurisdiction