# Local Government Act 2003, Paragraph 4


(1) A local authority may lend to a qualifying local government body, on such terms as they may agree, such sums as the body may require for any purpose for which it is authorised by or under any enactment to borrow money.
(2) In sub-paragraph (1), “qualifying local government body” means a body with local government functions which is specified for the purposes of this paragraph by regulations made by the appropriate person.

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Source: https://www.legislation.gov.uk/ukpga/2003/26/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/local-government-act-2003/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.