Due to Napoleon Bonaparte‚¬„¢s Continental System in Europe (which prohibited the import of British goods into French allies in Europe), British traders and merchants suffered. So they demanded they be given a share in the British trade in Asia and dissolve the monopoly of the East India Company. Charter Act-1813:The British merchants were allowed to trade in India under a strict licensing system under the Charter Act of 1813. This Act asserted the Crown‚¬„¢s sovereignty over British possessions in India. Another important feature of this act was to grant permission to the missionaries to come to India and engage in religious proselytization. The missionaries were successful in getting the appointment of a Bishop for British India with his headquarters at Calcutta in the provisions of the Act. The act provided for a financial grant towards the revival of Indian literature and the promotion of science. The company was also to take up a greater role in the education of the Indians under them. It was to set aside Rs. 1 Lakh for this purpose. Hence, the correct answer is Charter Act-1813.