Explanation:

When the Lok Sabha is dissolved, all business including bills, motions, resolutions, notices, petitions and so on pending before it or its committee's lapse. x They (to be pursued further) must be reintroduced in the newly-constituted Lok Sabha. x However, some pending bills and all pending assurances that are to be examined by the Committee on Government Assurances do not lapse on the dissolution of the Lok Sabha. Hence option 3 is not correct. x The position with respect to lapsing of bills is as follows: o A bill pending in the Lok Sabha lapses (whether originating in the Lok Sabha or transmitted to it by the Rajya Sabha). o A bill passed by the Lok Sabha but pending in the Rajya Sabha lapses. Hence option 1 is correct. o A bill not passed by the two Houses due to disagreement and if the president has notified the holding of a joint sitting before the dissolution of Lok Sabha, does not lapse. o A bill pending in the Rajya Sabha but not passed by the Lok Sabha does not lapse. Hence option 2 is not correct. o A bill passed by both Houses but pending assent of the president does not lapse. o A bill passed by both Houses but returned by the president for reconsideration of Houses does not lapse.