Explanation:

Consequent on the announcement of the Schedule for the General Election, the Model Code of Conduct (MCC) for the Guidance of Political Parties and Candidates comes into operation with immediate effect. Model Code of Conduct (MCC) for political parties and candidates is a set of norms evolved with the consensus of political parties and enforced by the Election Commission of India. Its objectives is to help the Election commission of India to conduct free and fair elections and to provide a level playing field between contestants so that ruling party doesn’t misuse its position to gain an unfair advantage. Its duration of enforcement is from the date of announcement of election schedule till announcement of election result. Hence statement 2 is correct. It is not under a law, it is not even under conduct rules In short it has no statutory backing. Hence statement 1 is incorrect.