# The Combined Authorities (Borrowing) Regulations 2022, Note: Explanatory note


(This note is not part of the Regulations)
Section 1 of the Local Government Act 2003, read with section 23(5) of that Act, gives mayoral combined authorities the power to borrow money for a purpose relevant to its transport functions. Regulation 2 of these Regulations provides certain such authorities with the power to borrow money for any of their other functions not just transport.
A full regulatory impact assessment has not been prepared as this instrument will have no impact on the costs of business and the voluntary sector.

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Source: https://www.legislation.gov.uk/uksi/2022/358/note (the official version)
Page: https://openlegislation.uk/combined-authorities-borrowing-regulations-2022/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.