Given below are two statements:

Statement (I): Under Montreal Protocol, developed and developing countries have same timetable for phasing out of Ozone Depleting Substances (ODS).

Statement (II): Under Montreal Protocol developing countries are referred to as 'Article 5 Countries'

In light of the above statements, choose the most appropriate answer from the options given below.

1
Both Statement (I) and Statement (II) are correct.
2
Both Statement (I) and Statement (II) are incorrect. 
3
Statement (I) is correct but Statement (II) is incorrect.
4
Statement (1) is incorrect but Statement (II) is correct.

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