(1) Every Gram Panchayat shall continue for a term of five years from the date appointed for its first meeting and no longer:
     Provided that a Gram Panchayat which is functioning immediately before the commencement of this Act shall continue till the expiration of its duration.
     (2) The election to constitute a Gram Panchayat shall be completed--
         (a) before the expiration of its duration specified in sub-section (1); and
         (b) in case of dissolution, before the expiration of a period of six months from the date of dissolution:
         Provided that where the remainder of the period for which the dissolved Gram Panchayat would have continued is less than six months, it shall not be necessary to hold any election under this clause for constituting the Gram Panchayat for such period.
     (3) A Gram Panchayat constituted upon the dissolution of a Gram Panchayat before the expiration of its duration, shall continue only for the remainder of the period for which the dissolved Gram Panchayat would have continued under sub-section (1) had it not been so dissolved.