Key Facts of Libya's Power-sharing Agreement

Libya's U.N.-backed unity government was shoring up its authority in Tripoli on Wednesday on the basis of a power-sharing agreement signed in December in the Moroccan resort of Skhirat.

The Libyan Political Agreement, signed by some representatives of Libya's rival parliaments, established a Government of National Accord (GNA) headed by prime minister-designate Fayez al-Sarraj.

The accord also states that the transitional Constitutional Declaration adopted following the 2011 ouster and killing of Moammar Gadhafi must be amended and a formal constitution adopted.

Here are key elements of the agreement:

- Executive Authority -

The Government of National Accord (GNA) led by Sarraj, a businessman from Tripoli, will be headquartered in the capital although "it can perform its functions from any other city," the agreement states.

The GNA will have a one-year mandate, which will officially begin once it is endorsed by the recognized parliament based in Libya's east, which has yet to take place.

If the new constitution is not finalized during that term, the GNA's mandate will be automatically renewed for an additional year.

The prime minister will chair a "Presidency Council of the Council of Ministers" consisting of five deputy prime ministers and three cabinet ministers.

"Any decision taken by the Presidency Council... shall require unanimity of the president (chair) of the Presidency Council of the Council of Ministers and his deputies," it states.

- Legislative Authority -

The agreement stipulates that "the legislative authority of the state, during the transitional period, shall be undertaken by the House of Representatives, which was elected in June 2014."

This is the internationally recognized parliament now based in the eastern city of Tobruk which must endorse the GNA.

Its tasks include "adopting the general budget, performing oversight over the executive authority and endorsing the public policy submitted by the government."

The High Council of State, or State Council, will act as a parallel parliament and its 145 members will be drawn from the Tripoli-based General National Congress (GNC) not backed by the international community.

The GNC had been backing the de facto authorities in control of Tripoli who on Tuesday ceded power to the unity government.

The agreement says the council "shall be the highest consultative Assembly of the State and shall carry out its work independently."

The GNA must submit draft laws to the council before referring them to the House of Representatives, which can accept or reject them.