Consider the following statements regarding the Notified Area Committee.

1. A notified area committee is formed to administer a rapidly rising town only.

2. It is known as a notified area committee since it was formed as a result of a government gazette notification.

3. Though it operates under the State Municipal Act, it is only subject to the provisions of the act that are notified in the government gazette when it is established.

4. It can also be tasked with exercising powers granted by another act. As a result, it is neither a statutory nor an elected body.

Which of the statements given above is/are correct?