Which one of the following is not correct about the Panchayats as laid down in Part IX of the Constitution of India? (1) The Chairperson of a Panchayat needs to be directly elected by people in order to exercise the right to vote in the Panchayat meetings. (2) The State Legislature has the right to decide whether or not offices of the Chairpersons in the Panchayats are reserved for SCs, STs or women. (3) Unless dissolved earlier, every Panchayat continues for a period of five years. (4) The State Legislature may by law make provisions for audit of accounts of the Panchayats.