Consider the following statements about Lokpal: I. The power of Lokpal applies to public servants of India, but not to the Indian public servants posted outside India. II. The Chairperson or a Member shall not be a Member of the Parliament or a Member of the Legislature of any State or Union Territory, and only the Chief Justice of India, whether incumbent or retired, has to be its Chairperson. III. The Chairperson or a Member shall not be a person of less than forty-five years of age on the date of assuming office as the Chairperson or Member, as the case may be. IV. Lokpal cannot inquire into the allegations of corruption against a sitting Prime Minister of India. Which of the statements given above is/are correct?

I. Incorrect. Lokpal’s jurisdiction extends to public servants in and outside India; the Act covers acts done by public servants even when posted abroad.
II. Incorrect. Chairperson need not be only the Chief Justice of India. Under the Lokpal and Lokayuktas Act, the Chairperson can be the Chief Justice of India, a Judge of the Supreme Court, or an eminent person meeting the prescribed criteria.
III. Correct. The Act requires that the Chairperson or a Member must be at least 45 years of age on the date of assuming office.
IV. Incorrect. Lokpal can inquire into allegations against a sitting Prime Minister, but with important safeguards and exclusions (for example, matters relating to international relations, security, public order, atomic energy, and space).

Hence, only Statement III is correct.