East India Stock Dividend Redemption Act 1973
What is the East India stock dividend Redemption Act?
The East India Stock Dividend Redemption Act was passed by Parliament in 1973 and formally dissolved the British East India Company. This stock company, created to support trade with the East Indies (now known as maritime Southeast Asia) ended up trading primarily with Qing China and the Indian Subcontinent.
Where have you heard about the East India stock dividend Redemption Act?
The British East India Company, informally known as John Company, was at one point accountable for half of the world’s trade. In 1600 the company received a royal charter from Queen Elizabeth I, making it the oldest of the European East India Companies.
What you need to know about the East India stock dividend Redemption Act.
The East India Company's shareholders were mainly well-off merchants and members of the aristocracy, and when it was first in practice the government held no shares and had very minimal, indirect control. By the time the redemption act had been passed, the company had altogether ceased and its governmental duties had been handed to the crown in the Government of India Act 1858. The company had a 24,000-strong military which had also been given fully to the crown, which in turn integrated it into the Indian Army.
Find out more about the East India stock dividend Redemption Act.
If you are interested in the East India stock dividend Redemption Act 1973, then you can take a look at our page on Stock Dividends.