Rent tribunals, as constituted for the purposes of the 1977 Act, are hereby abolished and section 76 of the 1977 Act (constitution etc. of rent tribunals) is hereby repealed.

As from the commencement of this section the functions which, under the 1977 Act, are conferred on rent tribunals shall be carried out by rent assessment committees.

A rent assessment committee shall, when constituted to carry out functions so conferred, be known as a rent tribunal.