Does the NRO replace ICANN?
No. One of the functions that the NRO is intended to provide is to undertake if necessary those IANA functions that pertain to the management of number resources. The NRO is not being structured as a potential ‘complete’ ICANN replacement in the event of failure of ICANN. The consideration here was that in such an event it was considered probable that the various IANA functions would be undertaken by those with a direct interest in each particular functional area.