The main purpose of this Act is to amend the Victorian Urban Development Authority Act 2003 —
(a) to abolish the Victorian Urban Development Authority and establish the Urban Renewal Authority Victoria as its successor in law; and
(b) to amend the name of that Act as a result of the establishment of the new Authority; and
(c) to amend the purpose of that Act to reflect the purposes of the new Authority; and
(d) to set out additional functions of the new Authority; and
(e) to provide additional eligibility criteria for appointment to the Board of the new Authority.