Disposition of agency affairs

The President, in consultation with the head of an agency determined to be abolished pursuant to section 2(c), shall take such action as may be necessary to wind down the operation of such agency during the one year period following the date of abolishment for each such agency including the designation of an agency to carry out any ongoing authority, maintain custodial records, act as a party to unresolved legal actions, or other obligations that cannot be resolved within one year.