Section 2. Five per cent of the registered voters of any such town may, not less than ninety days before its annual town meeting, file with the selectmen a petition that there be submitted to the voters of the town the matter of the acceptance of such standard form of representative town meeting government. The selectmen shall thereupon direct the town clerk to cause to be printed on the official ballot used for the election of town officers at such meeting substantially the following question:

If a majority of the votes cast thereon are in the affirmative such standard form shall thereupon become effective in such town, and the acceptance by the town of the special statute under which it was theretofore governed shall be deemed to be revoked by such vote; provided, that the town meeting members elected at such election or in office under the provisions of such special statute shall, except as otherwise provided therein, remain in office until the next annual town election.