Is the olympic falg passed on by the president of the IOC to the Head of State of the country that has been selected to hold the next games at the closing ceremony?

Answer 1

First the Olympic Flag is presented to the Head of the of the Olympic Organising Commitee of the present city (Beijing). This is then passed to the Head of the IOC Jaquces Rougge. The flag is then passed to the Major or of similar "rank"(London).