The Commission is dissolved, which means it no longer exists. You can think of it like a group that has been disbanded. The Commission will stop doing its work because it has been dissolved.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM358088.
62: Foreshore, seabed, riverbed, or lakebed acquired by the Crown under consent process is not subdivision, or
"Land near water owned by the government isn't considered subdivided"
64: Assets and liabilities vest in the Crown, or
"The government gets all the Commission's belongings and debts when it is closed."
The Commission is dissolved.
