Explanation:

Explanation:
After the announcement of polls, Model Code of Conduct come into force with immediate effect in the entire district in which the whole or any part of the constituency going for byeelection is included. Hence, statement 1 is correct.
Electoral Trust scheme was notified by Government of India in 2013 to provide corporate funding to political parties through trusts (a registered non-profit company that distributes 95% of its contributions to registered political parties). Trusts do not receive contributions in cash and records the details of donor and recipient. To get tax exemption it registers itself with Central Board of Direct Taxes, which discloses such information to the Election Commission. Hence, statement 2 is incorrect.
Electoral Bond scheme was notified by Government of India in 2018 to cleanse the system of political funding in the country. Bonds (bearer instrument in the nature of a promissory note and interest free banking instrument) can be used for making donation only to the political parties registered under section 29A of Representation of People’s Act and which secured not less than one per cent of the votes polled in the last general election to the House of People or a Legislative Assembly. Hence, statement 3 is incorrect.
Article 329 declares that elections can be questioned only by an election petition presented to such authority and in such manner as provided by the state legislature. Article 323 B provides for election tribunals, but so far, no such tribunals have been established. Prior to 1966, election petitions were presented to Election Commission but in 1966, Parliament enacted section 80 A of the Representation of People’s Act and amended Article 329 to include elections to Parliament / Legislatures in High Court’s original jurisdiction. Hence, statement 4 is correct.