Consider the following statements regarding the election of the Speaker of the Lok Sabha:
1. The Speaker of the Lok Sabha is elected by the members of both the Lok Sabha and the Rajya Sabha.
2. The Speaker continues to hold office until immediately before the first meeting of the next Lok Sabha.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2