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Option 4 : Both I and II
- The normal term of a Panchayat is five years from the date of its first meeting.
- If a Panchayat is dissolved prematurely, the newly constituted one can continue for the remainder of the term of the old Panchayat.
- If the remainder of the term is less than 6 months, it is not necessary to conduct fresh elections to elect a new Panchayat.
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