Explanation:

1st option is correct.
Charter Act of 1853 separated for the first time the legislative and executive functions of the Governor General.
Charter Act of 1853 was the last charter act passed for East India Company. It was passed on expiry of charter act of 1833. The charter was renewed but no substantial changes were made. However, this was for the first time, that this charter act, unlike other charter acts, did not fix any limit for the continuance of the administration of the company in India. The act provided that the Indian territories will remain under the Governance of the company, until the parliament otherwise directed.