The Combined Authorities (Borrowing) and East Midlands Combined County Authority (Borrowing and Functions) (Amendment) Regulations 2025
Section 1 of the Local Government Act 2003 (“the 2003 Act”), 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 and not just transport.