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First meeting, term of office of Chairman, Vice-Chairman or member, their resignation and vacancy in their office. (1) The first meeting of the Mandi Committee shall be called by the Collector within one month from the date of publication of the results of the election of the Chairman and members in the Gazette. (2) The Chairman, Vice-Chairman and members of the Mandi Committee shall hold office for a period of five years from the date of the first meeting of the Mandi Committee: Provided that if, on the expiry of the Mandi Committee, a new Mandi Committee is not constituted, the State Government, by notification, may extend the term of the Mandi Committee for a period of six months recording the reasons for such extension from the date of such expiry, and if a new Mandi Committee is not constituted within this extended period, it shall be deemed to have been dissolved and in that case the provisions of section 57 shall apply. (3) The Chairman, Vice-Chairman or any member may resign their office at any time by addressing the Collector in writing and such resignation shall be effective from the date of its acceptance by the Collector. (4) Any person who is elected as a Chairman or Vice-Chairman of any Municipal Corporation, Municipal Council, Nagar Panchayat, Panchayat or any Co-operative Society, if he is elected as a Chairman or Vice-Chairman of a Mandi Committee, or vice versa, i.e., elected Chairman or Vice-Chairman in the Mandi Committee is elected as Chairman or Vice-Chairman of the aforesaid bodies, then by a notice in writing, signed by him and delivered to the Collector within thirty days from the date of his being elected in that capacity or the later of such dates, shall declare which office he wishes to hold and thereupon his place in such other body, where he does not wish to hold office, shall become vacant, and on failure to give such declaration within the aforesaid period, upon the expiry of that period, his place in the Mandi Committee shall become vacant. (5) In the event of death, resignation, removal, vacancy under sub-section (4) or otherwise of the Chairman, Vice-Chairman or any member before the expiry of their term of office, it shall be deemed that a casual vacancy has occurred in such office and such vacancy shall be filled by election according to the provisions of this Act and rules within six months and the person so elected or nominated shall hold office for the residue of the term of his predecessor: Provided that no such vacancy shall be filled if the remaining period of office is less than six months. (6) In the event of death, resignation, removal or otherwise of the Chairman, or if the office of the Chairman also becomes vacant, then notwithstanding anything contained in this Act, such member of the Mandi Committee elected under clause (b) of sub-section (1) of section 11, as the Collector may appoint, shall exercise the powers and perform the functions of the Chairman until the Chairman is duly elected.