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Which of the following is NOT correct with respect to NITI AAYOG which has replaced Planning Commission?

A)  It will be headed by the PM and will have all CMs/ Lt. Governors as members.

B)  It will have a Vice Chairperson and a CEO in addition to five full-time members and two part-time members.

C)  Four union ministers would serve as ex-officio members.

D)  Four Regional Councils will be formed headed by the four union ministers to address issues impacting more than one state or a region.

E)  The new body has been set up by a resolution of Union Cabinet as done in case of Planning Commission which was established on 15th Mar 1950.