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The Board of Trade, also called Lords Commissioners of Trade and Plantations, was established by the English king William III in 1696 to replace the Lords of Trade, a governmental advisory body created in 1675 to supervise mercantile affairs in the colonies.
The board was to examine colonial legislation and to recommend disallowance of those laws that conflicted with imperial trade policies, to nominate governors and other high officials for royal colonies and to write the instructions for appointed governors, to recommend laws affecting the colonies to Parliament and the
The board would evolve gradually into a government department with considerable power and a diverse range of functions, including regulation of domestic and foreign commerce, the development, implementation and interpretation of the Acts of Trade and Navigation, and the review and acceptance of legislation passed in
In English, the terms board of trade and chamber of commerce mean the same thing and either can be used for an organization created under the BOTA . Boards of trade can be created under BOTA or not-for-profit corporate legislation, such as the Canada Not-for-profit Corporations Act (NFP Act).
Advisory body in charge of recommending policy, law, nominees and regulations regarding trade and governance in the colonies. It had no legislative or executive power but for much of the 17th and 18th century was the primary body in charge of making policy regarding the colonies.
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