African Company Act 1750 facts for kids
| Act of Parliament | |
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| Citation | 24 Geo. 2. c. 49 |
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| Other legislation | |
| Repealed by | Statute Law Revision Act 1867 |
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Status: Repealed
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The African Company Act 1750 was an important law passed by the Parliament of Great Britain. This Act closed down an old company called the Royal African Company. In its place, a new group was formed, known as the African Company of Merchants. All the property and responsibilities of the old company were given to this new group.
What Was the African Company Act of 1750?
This Act was a special law made in 1750. It was created by the Parliament of Great Britain. The main goal was to change how trade was managed in parts of Africa. It replaced an older company with a new one.
Why Was This Act Needed?
The Royal African Company was the main company handling trade for Britain in Africa. However, this company had many money problems. These issues became very serious by 1747.
The company even told Parliament that it could not protect its forts. These forts and castles were important trading posts. They were worried about possible attacks from the French. Because of these big problems, Parliament decided to step in. They needed a new plan for trade and defense in the region.
What Did the Act Change?
The African Company Act 1750 made big changes. It officially ended the Royal African Company. This meant the old company stopped existing.
Then, the Act created the African Company of Merchants. This new company took over everything from the old one. This included all their assets, like forts and trading posts. The goal was to improve trade and protection in Africa.
