Revenue Collection Efficiency: The 'sunset law' was implemented to ensure the efficient and timely collection of revenue from the zamindars or landholders. It set a clear and strict deadline for revenue payments, emphasizing the importance of prompt collection.

Penalty for Default: The policy imposed a penalty for default in revenue payments. If the zamindars failed to make their payments by the specified deadline, their zamindari rights were liable to be auctioned. This penalty served as a deterrent against non-payment.

Revenue Security: The policy aimed to secure the revenue owed to the Company. By enforcing a strict deadline and the threat of auctioning zamindari rights, the Company sought to minimize revenue arrears and ensure a steady flow of funds.

Prevention of Revenue Evasion: The 'sunset law' was designed to prevent revenue evasion by the zamindars. It made it difficult for them to delay or avoid their financial obligations to the Company.

Revenue Maximization: The policy also aimed at maximizing revenue collection for the Company, which was a primary source of income for the British colonial administration.

So, the correct option is [2].