Which of the following statements regarding Indian Independence Act, 1947 is not correct?

1
The Indian Independence Act, 1947 declared the Constituent Assembly of India to be a fully sovereign body.
2
The Constituent Assembly of each Dominion was to have unlimited power to frame and adopt any Constitution.
3
The Indian Independence Act, 1947 was repealed by Constitution of India.
4
The Act sought to lay down a Constitution by the Legislative will of the British Parliament.

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