(b) The words and phrases used in this section shall have the standard meanings as established within N.J.A.C. 15:3-1.2, which provides definitions regarding records management; P.L. 1977, c. 435, § 3 (N.J.S.A. 40: 43-66.37), which provides definitions regarding the consolidation of municipalities; and P.L. 1995, c. 376, § 2 (N.J.S.A. 40:43-66.79) , which provides definitions regarding the consolidation and absorption of sparsely populated municipalities, except the following words and phrases that apply to this section and shall have the designated meanings, unless the context clearly indicates otherwise: "Consolidated agency" means the single new agency that results from an affirmative consolidation effort by participating agencies.
"Extinct agency" means any county, municipality, or public agency, body, board, institution, society, commission or authority that ceases or may cease to exist outright or ceases or may cease to exist in its present form and has been consolidated, absorbed or annexed into a new consolidated agency.
"Participating agencies" means any two or more agencies involved in a consolidation effort.