Consider the following statements regarding the Foreign Contribution (Regulation) Act (FCRA):
Statement I: No person having a definite cultural, economic, educational, religious, or social programme shall accept foreign contribution unless such person obtains a certificate of registration from the Central Government or prior permission.
Statement II: Under prior permission, there are no end-use restrictions or time restrictions for the usage of foreign contributions.
Which one of the following is correct in respect of the above statements?
1
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
2
Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.