The 'Regulating Act' was passed to regulate the activities of the:

British East India Company

The correct answer is Option (2) → British East India Company

1773: Regulating Act passed by the British Parliament to regulate the activities of the East India Company

MORE INFORMATION:

The Act aimed to overhaul the existing system of governance in British India. It established a Governor-General of Bengal and empowered the Governor-General to superintend and control the other presidencies (Madras and Bombay). The Act sought to regulate the conduct of the Company's officials, both in India and in Britain. It imposed restrictions on accepting gifts and bribes, aiming to prevent abuses of power. The Regulating Act established a Supreme Court in Calcutta to enhance the administration of justice.