The agency would be headed by members of the Ministerial Advisory Committee on greyhound racing, Heather Simpson (chairwoman), Murray Johnson and Dr Lindsay Burton, with a fourth member to be appointed later.
Peters said the people involved in greyhound racing and the dogs would not be abandoned during the closure.
“This bill underpins a structured transition, with funding, agencies and support mechanisms in place. We are not walking away from our responsibilities; we are meeting them head-on.”
The ban on greyhound racing would take effect from August 1, allowing time for a responsible and carefully managed transition.
“This is a good day for greyhounds,” Peters said.
“It’s a rare moment when Parliament speaks with such a strong majority, principled voice. Those moments matter, and this is one of them.”