The report tabled to the Assembly by the North's First Minister, Mr David Trimble, and Deputy First Minister, Mr Seamus Mallon, sets out how power will be devolved from the British government to the Assembly.
It proposes the creation of 10 departments in the executive, a North-South ministerial council, a British Irish council, and a consultative civic forum.
It will be for the Northern Secretary, Dr Mo Mowlam, to trigger the mechanism to allow all these arrangements to go "live". This is due to happen sometime before March 10th, although the decommissioning issue is causing uncertainty about the timetable.
Under the report's proposals there will be 12 members in the executive, Mr Trimble and Mr Mallon, and 10 ministers yet to be appointed.
The 10 departments are: Agriculture and Rural Development; Environment; Regional Development; Social Development; Education; Higher and Further Education, Training and Employment; Enterprise, Trade and Investment; Culture, Arts and Leisure; Health, Social Services and Public Safety; and Finance and Personnel.
The departments will be allocated under the D'Hondt system with the parties entitled to ministries according to their strength. The UUP will have first choice, fifth choice and eighth choice of ministries.
The SDLP is also entitled to three ministries - second, sixth and tenth choices. The DUP is entitled to two seats - third and seventh choices. Sinn Fein under D'Hondt is entitled to two seats - fourth and ninth choices of ministries.
The office of the First Minister and Deputy First Minister also will have several functions, principally running an economic policy unit and having responsibility for equality. It will also liaise with the North-South and British-Irish councils, civic forum and Northern Secretary; it will deal with victims' and women's issues and community relations.
The report also paves the way for the creation of six implementation bodies: Inland Waterways; Food Safety, Trade and Business Development; Special EU Programmes; Language (Irish and Ulster Scots); and Aquaculture and Marine Matters.
It opens up six specific areas for North-South co-operation: transport, agriculture, education, health, environment, and tourism (including the creation by Bord Failte and the Northern Ireland Tourist Board of a publicly-owned limited company to cover island-wide tourism promotion).
The report envisages the North-South ministerial council having its first meeting in Armagh shortly after the shadow executive is formed, and being based permanently in Armagh.
It also sees the British-Irish council having its first meeting around the same time in London. The British and Irish governments, according to the report, are currently agreeing to areas of mutual interest.
The report sets down how the civic forum would operate, being comprised of 60 members plus a chairperson, and formed no later than six months after devolution. It should adhere to membership guidelines covering gender, community and age, and have a geographic spread.
Nominations to the forum would come from several sectors including the business, voluntary and community, trade union, church, arts and sports sectors, as well as from victims' groups.