Member

23: Clause 18, page 14, line 27, at end insert— “(ii) after that subsection insert—“(5A) Subsection (3)(b) does not apply in relation to borrowing money for the purposes of, or in connection with, the provision of local services by a public transport company to which subsection (5B) applies.(5B) This subsection applies to a public transport company the controlling authority of which is—(a) an authority the functions of which are exercisable in relation to an area in England, or(b) two or more authorities the functions of which are exercisable in relation to areas in England.””Member's explanatory statement This amendment removes the restriction on public transport companies in England borrowing money where the money is borrowed in order to provide local services.