With reference to President’s Rule, consider the following:

1. It is the discretionary power of the Governor to proclaim president rule in the concerned state.

2. A law made by the Parliament or president or any other specified authority continues to be operative even after the President’s Rule.

3. It can be extended for an indefinite period of time.

4. Proclamation of president rule also suspends the high courts functioning in the concerned state.

Which of the statements given above is/are incorrect?