(1)Every Pradhan or [* * *] [Omitted by U.P. Act No. 44 of 2007 (w.e.f. 20.08.2007).] of a [Gram Panchayat] [Substituted by ibid.], every member of a [Gram Panchayat] [Substituted by U.P Act No. 9 of 1994.] or of a Joint Committee or any other committee constituted under this Act [shall be liable to surcharge for the loss, waste or misapplication of money or property belonging to the Gram Panchayat, if such loss, waste or misapplication is direct consequence of his neglect or misconduct while he was such Pradhan or Member] [Substituted 'and every Sarpanch, Sahayak Sarpanch or Panch of a Nyaya Panchayat shall be liable to surcharge for the loss, waste or misapplication of money or property belonging to the Gram Panchayat or Nyaya Panchayat as the case may be, if such loss, waste or misapplication is direct consequence of his neglect or misconduct while he was such Pradhan, Member, Sarpanch, Sahayak Sarpanch or Panch:' by U.P. Act No. 6 of 2017.]Provided that such liability shall cease to exist after the expiration of ten years from the occurrence of such loss, waste or misapplication, or five years from the date on which the person liable ceases to hold his office, whichever is later.