Explanatory note
(This note is not part of the Regulations)
These Regulations provide for mayoral combined authorities to borrow money for a purpose relevant to all of their functions.
Regulation 2 specifies the functions of the combined authorities (other than transport functions) to which the power under section 1 of the Local Government Act 2003 (power to borrow) is to apply.
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.