( CNN ) -- Libya 's National Transitional Council handed over power Wednesday to the General National Congress , the national assembly formed by last month 's elections . The ceremony in a conference center in Tripoli marked the country 's first peaceful government transition since before Moammar Gadhafi seized power in 1969 . Wednesday 's event was held on the 20th day of Ramadan , a date chosen to mark the anniversary of the start of the liberation of the capital city from Gadhafi 's grip . Gadhafi 's son seeks travel ban waiver , lawyer says . NTC Chairman Mustafa Abdul Jalil and the oldest member of the body , Mohammed Ali Salim , signed documents marking the event . Jalil then walked to the microphone and announced that the NTC had handed over the `` constitutional powers of running the country '' and that the GNC was , from that moment , the `` sole legitimate representative of the Libyan people . '' As he spoke , the crowd rose to its feet and broke out in cheers , with some chanting `` Allahu Akbar ! '' ( `` God is Great ! '' ) Others chanted a line that had become famous during the revolution : `` The blood of martyrs will not go wasted ! '' Many cried at the empowerment of the new assembly , which represents the country 's first body formed in a free and fair election in more than 47 years . Interim Prime Minister Abdul Rahim al-Kib appeared moved as he hugged Jalil . The special representative of the secretary general of the United Nations to Libya , Ian Martin , smiled as Jalil announced the handover . Members of the 200-person body took the oath of office en masse , and Jalil told them what they already knew : they face major challenges in security and disarmament . Militias who helped oust Gadhafi continue to operate without government oversight , still hold thousands of detainees and continue to carry out arbitrary detentions . Libya rebels move onto Syrian battlefield . On Sunday , unknown individuals attacked the residence of the International Committee of the Red Cross in Misrata . None of the seven staff members inside the building at the time of the attack was hurt , but the building suffered extensive damage , the ICRC said in a statement . The attack marked the fifth in less than three months against the ICRC in Misrata and Benghazi and led Ishfaq Muhamed Khan , the head of the ICRC 's delegation in Libya , to suspend operations in those two cities . In addition , a bomb exploded Saturday in central Tripoli in what officials said was a local dispute . And last week , a bomb exploded near a security headquarters building in Benghazi . Officials reported defusing two other bombs around that time , including one found in the basement of the Tibesti Hotel , which is frequented by government officials , foreign delegations and nationals . It was not clear when the GNC 's first official meeting would be held . One of its first jobs will be to elect a speaker and deputies . It will have 30 days from its first official session to appoint a prime minister . It is also tasked with overseeing the drafting of a constitution . Kidnapped Libya Olympic chief released .
Ceremony marks the first peaceful transition of power in more than 40 years in Libya . Security issues are a major concern . Moammar Ali was kidnapped and killed last year .