Section 23. A town may, after a vote under section twenty-one has been in effect therein for a period of not less than three years, by a vote at a meeting held at least sixty days before the annual town election, rescind such action in whole or in part and thereupon such town shall, at the next town election, nominate and elect such officers as are necessary to carry out the duties exercised in accordance with section twenty-one by the board of selectmen or officers appointed by them. Such officers, when to be elected for three year terms, if members of a board of three or more, shall be nominated and elected for one, two or three years respectively, and thereafter for the term of three years, and upon their election and qualification shall have all the duties and obligations imposed upon them by law.