Statement 1: Fuse wire must have high resistance and low melting point.Statement 2: Fuse is used for a maximum limiting current flow only.

Fuse wire must have high resistance because in series current remains same. Also, according to joule's law, H=i2Rt4.2, therefore heat produced is high if R is high. The melting point must be low so that the wire may melt with increase in temperature. As the current greater than maximum safe value flows through the fuse wire, it heats up, melts and break the circuit.