Consider the following statements about the Electoral Trusts:

1. An Electoral Trust is a Trust set up by the Election Commission of India (ECI) with the sole objective to distribute the contributions received by it from other Companies and individuals to the political parties.

2. An electoral trust can accept contributions only by cheque, demand draft, or account transfer to the bank.

Which of the above statements is/are correct?

1
Only 1
2
Only 2
3
Both 1 and 2
4
Neither 1 nor 2
5
Question Not Attempted

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