You can easily create a timer functionality by using setInterval.Below is the code which you can use it to create the timer.
http://jsfiddle.net/ayyadurai/GXzhZ/1/
window.onload = function() {_x000D_
var minute = 5;_x000D_
var sec = 60;_x000D_
setInterval(function() {_x000D_
document.getElementById("timer").innerHTML = minute + " : " + sec;_x000D_
sec--;_x000D_
if (sec == 00) {_x000D_
minute --;_x000D_
sec = 60;_x000D_
if (minute == 0) {_x000D_
minute = 5;_x000D_
}_x000D_
}_x000D_
}, 1000);_x000D_
}
_x000D_
Registration closes in <span id="timer">05:00<span> minutes!
_x000D_