The Prime Minister says it's time CERA finished up.

The organisation officially winds up today, with its powers set to be split between Regenerate Christchurch, Otakaro Limited and the department of the Prime Minister.

John Key said the organisation did its best to step when the city needed it, but the time has come to move on.

"Because we are moving to the next phase, which is regenerate, and it's arguably a bit more of a positive phase in a way because it's all about the real future rebuild, so we've reached that right time."

Mr Key said CERA's staff should be very proud of what they've been able to accomplish for the past five years.

He said they may not have got every decision right, but staff did their best under challenging circumstances.

"I think those people have thrown their heart into what they've believed in, and I both publicly and privately want to acknowledge what they've done."

An announcement of who is on the board of Regenerate Christchurch, which will launch in the next few weeks and will pick up most of CERA's powers, is expected today.

Arts Council CEO Andre Lovatt has already been appointed chair of the organisation, but Earthquake Recovery Minister Gerry Brownlee said he and Lianne Dalziel will choose the rest.

"Have of them are appointed by me as the Minister on behalf of the Government, the other half are appointed by the Mayor on behalf of the council."

Meanwhile, the Prime Minister said the Government is getting very close to the finishing line when it comes to the Christchurch Convention Centre.

The deadline for the anchor project has been pushed back several times, and its exact scope and size are still unclear.

But John Key said he's seen the plans, and reviewed the costings.

"We're getting very close now to actually being in a position where we can show Cantabrians the Convention Centre, and fundamentally start the project. So, I'm very confident we're getting there, it's just fundamentally a matter of Cabinet signing it off."

Mr Key said there was a gap between what the Government wanted to pay for the project, and what the developer wanted to charge but they've found a way through.