(a)if all the powers and duties and functions of the Gaon Panchayat are to be exercised and discharged by the Gram Sabha-(i)the Gaon Panchayat which functioned immediately before the date of notification shall in relation to the revenue village, cease to function therein;(ii)all the powers, duties and functions attaching to the Gram Panchayat under the Assam Panchayat Act, 1959, shall in relation to the revenue village, attach to the Gram Sabha and accordingly, the Gram Sabha shall exercise the powers and discharge the duties and functions aforesaid ;(iii)the provisions of the Assam Panchayat Act, 1959, shall subject to such restrictions and modifications as the Government may specify in the notification, apply to the Gram Sabha as if it were a Panchayat constituted under the law for that revenue village ;(iv)the Gram Sabha shall be entitled to all assets and be subject to all liabilities of the Panchayat as on the date of the notification in so far as such assets and liabilities are relatable to the revenue village :