7. ²[ ³[(1) The term of a Paurashava shall be a period of five years commencing on the day of its first meeting after its constitution: Provided that notwithstanding the expiration of its term, a Paurashava shall continue to function until the publication of election schedule for reconstituting the Paurashava to succeed it.] ⁴[* * * ] ⁵[(1AA) Where the election schedule for reconstituting a Paurashava is published, the Paurashava shall cease to exist and the functions of the Paurashava shall, until the holding of the first meeting of the Paurashava constituted to succeed it, be performed by the Thana Nirbahi Officer or Additional Deputy Commissioner concerned as the Government may appoint in this behalf.] (1B) Notwithstanding anything contained in this Ordinance, a Paurashava shall be deemed to have been duly constituted after the election of seventy five per cent of the total number of its ⁶[Commissioners ⁷[* * *]] has taken place. Explanation.- For calculating the seventy five per cent of the total number of ⁸[* * *] Commissioners, less than point five zero per cent shall be ignored and point five zero and above per cent shall be rounded off into a whole number.] (2) A Paurashava shall, after its constitution, hold its first meeting on such date, not later than thirty days from the day on which the names of its Chairman and commissioners are notified in the official Gazette, as may be appointed by the Prescribed Authority.