Explanation:

Features of GoI Act 1858:

1. East India Company was abolished.
2. Indian territories of Britain were to be governed in the name of the British Queen.
3. The Court of Directors and the Board of Control were scrapped.
4. The powers of the Company’s Court of Directors were vested with the Secretary of State for India.
5. The Viceroy and the governors of the various presidencies were appointed by the Crown.
6. The Viceroy was to be assisted with an Executive Council.
7. This act made India a direct British colony.
8. This act abolished the dual government of the Pitt’s India Act.
9. This act also ended the doctrine of lapse.
10. First Secretary of State for India: Lord Stanley
11. First Governor-General and Viceroy of India: Lord Canning

Indian Legislative Council existed before enactment of his act. But Indian members were first time introduced in Vceroy's Council in 1861.