The Greater Christchurch Regeneration Bill, which receives its first reading in parliament today, lays out the government's intentions to replace the Earthquake Recovery Authority with a new entity to be known as Regenerate Christchurch.
This will be jointly run by the government and the Christchurch City Council.
Today the government revealed complete control of Regenerate Christchurch will pass to the council within five years.
The government would continue to determine the direction of anchor projects such as the Convention Centre and the Metro Sports Facility, through another new entity known as Crown Co.
Regenerate Christchurch would have a wider focus than the Recovery Authority and would have responsibility for developing suburban centres such as New Brighton, one of the parts of the city most affected by the quakes.
It would also determine the future use of the residential red zone which has yet to be decided.