Election to constitute the Corporation.

An election to constitute a Corporation shall be completed,- (a) before the expiration of its duration specified in sub-section (1) of section 6; (b) before the expiration of six months from the date of its dissolution: Provided that where the remainder of the period for which the dissolved Corporation would have continued is less then six months, it shall not be necessary to hold any election under this section for constituting the Corporation for such period;