After the regulating act of 1773 the most important act that was passed by the British government was Pitt's India Act of 1784. Important features of this act are discussed below-
Pitt's India Act divided the commercial and political function of East India Company.
This act created a new body called Board of Control and this body was responsible for handling the political function of East India Company. Earlier the court of directors were handling commercial as well as political functions but now Court of Directors were allowed to control only commercial affairs .
It gave the power to the Board of Control to supervise and direct all the operations of military and civil government or revenues of the British possessions in India.
This act called the territories of East India Company “British Possessions in India”