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The story
Founding
Some of the persons involved had previously received a charter in 1606 as the Plymouth Company and had founded the short-lived Popham Colony within the territory of northern Virginia (actually in present-day Maine in the United States). The company had fallen into disuse following the abandonment of the 1607 colony.
The Council was re-established, with support from Gorges, after (1) Captain John Smith had completed a thorough survey of the Atlantic side of New England (and named it such), (2) Richard Vines over-wintered in 1616, off the Maine coast and discovered that a plague was decimating Native Americans and (3) a friendly English speaking local Native American had been placed in the most likely colonization spot.
In the new 1620 charter granted by James I, the company was given rights of settlement in the area now designated as New England, which was the land previously part of the Virginia Colony north of the 40th parallel, and extending to the 48th parallel.
1620 Charter
The Charter of 1620 mentions the wish of certain settlers for English colonization of all land between degrees 34 and 45, but instead provides for colonization between degrees 40 and 48. The colonial plantation was to found settlements and commerce for Christian peoples and establish trade and commerce between these new colonies and the colonies of George Somers (Bermuda) and Thomas Gates (Virginia Colony).
These new colonies were to be managed by Gentry from Plymouth, Exeter, and Bristol. These members of the Council were to have, in perpetuity for them and their descendants, rights and privileges extended for the governance and management of trade of the colony.
Individuals listed as beneficiaries of the charter include:
Ludovic Stewart, 2nd Duke of Lennox
George Villiers, 1st Duke of Buckingham
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William Herbert, 3rd Earl of Pembroke
Thomas Howard, 14th Earl of Arundel
William Alexander, 1st Earl of Stirling
James Hamilton, 2nd Marquess of Hamilton
Henry Wriothesley, 3rd Earl of Southampton
Robert Rich, 2nd Earl of Warwick
John Ramsay, 1st Earl of Holderness
Edward la Zouche, 11th Baron Zouche
Edmund Sheffield, 1st Baron Sheffield
Baron Gorges of Dundalk
Robert Carr, 1st Earl of Somerset
Robert Mansell
Edward Zouch
Dudley Digges
Thomas Roe
Ferdinando Gorges
Francis Popham
John Brooke, 1st Baron Cobham
Richard Hawkins
Allen Apsley
Sir Warwick Hele or Hale
Sir Richard Catchmay
Sir John Bourchier
Nathaniel Rich
Edward Giles
Giles Mompesson
Thomas Wroth
Matthew Sutcliffe
Robert Heath
John Drake
Raleigh Gilbert
George Chudley
Thomas Hamon
John Argall
The Council would have full legal rights of governance and administration over the colonial plantation. The members of the Council would elect a President to oversee administrative affairs.
In 1622, the Plymouth Council issued a land grant to John Mason which ultimately evolved into the Province of New Hampshire.
1635 revocation
With the establishment of the Plymouth Colony, Massachusetts Bay Colony, Province of New Hampshire, Saybrook Colony, and New Haven Colony, the council was disbanded by royal charter.
From Wikipedia’s article on Council for New England, shared under CC BY-SA 4.0.4