Under the plan, nonprofit Internet Corporation for Assigned Names and Numbers (ICANN) would create a separate legal entity that would be contracted to handle key technical functions of the online address system.

A "Customer Standing Committee" would monitor performance of what would essentially be an ICANN subsidiary, and a review process involving stake-holders would be put in place.

ICANN would remain based in Southern California, and any major structural or operational changes to the foundation of the Internet's addressing system would require approval of the nonprofit organization's board of directors.

The 199 page proposal was posted online at icann.org, where a note said that a public comment period would end on September 8.

ICANN president Fadi Chehade said last month that the end of the US role is now set for mid-2016, with the transition pushed back by a year to allow time for input from the Internet community and review by the US government and Congress.