Indian Polity · Polity

With reference to the University Grants Commission (UGC), consider the following statements: I. The UGC is a statutory body established by an Act of Parliament in 1956. II. The UGC's mandate includes maintaining standards of higher education, but it lacks the authority to frame regulations that carry the force of binding law. III. UGC regulations notified under the UGC Act qualify as subordinate legislation and are subject to judicial review by constitutional courts. How many of the above statements are correct?