According to the Constitution of India, which one of the following statements is not correct ?

1. AThe executive powers of the Union shall be vested in the President of India.
2. BParliament, by law, can confer functions on authorities other than the President of India.
3. CThe President of India is elected by an electoral college consisting of all Members of Parliament and all Members of all State Legislatures.
4. DA person, having held office as the President, shall be eligible for election to that office for the second term.