Libya's transitional council hands over power

Political parties are scramble to form alliances with independent candidates in a fight for leadership in the assembly.

The Libya's transitional council hands over power. to a newly elected assembly, marking the first peaceful power transfer in the country's modern history.

National Transitional Council, has ruled Libya since last year's ouster of Muammar al-Qadhafi.Council was dissolved in a late-night ceremony in Tripoli on Wednesday.Council chairman Mustafa Abdel Jalil declared that the assembly is now the sole legitimate representative of the Libyan people.

The assembly was elected in July in the country's first national poll held 60 years. Libya was without a constitution or legislature under the autocratic rule of Qadhafi, who took power in a bloodless coup in 1969.
The assembly will be tasked with advancing the country's democratization process towards the launch of a full government in one year's time. It will be naming a prime minister and drafting a new constitution.