With reference to the Multi State Cooperative Societies (MSCS) Act, 2002, consider the following statements:
1. The Central Government has decided to amend the Multi State Cooperative Societies (MSCS) Act, 2002 to “plug the loopholes in the Act”.
2. Since the law was enacted, 1,479 such societies have been registered, of which 9 have been deregistered since.
Which of the statements given above is/are correct?