Electrochemistry

Two statements, one Assertion and the other Reason, are given. Choose the correct option.

Assertion : During the electrolysis of aqueous $\mathrm{NaCl}, \mathrm{Cl}_2$ is liberated at the anode in preference to $\mathrm{O}_2$ and water gets reduced to $\mathrm{H}_2$ at cathode.

Reason : The reaction at Anode with lower oxidation potential is not preferred due to over potential of Oxygen.