Auckland Transport cannot borrow money without the Auckland Council's written okay. You need to know that the Auckland Council has to agree in writing before Auckland Transport can borrow any funds. The rule is that Auckland Transport must get this written agreement from the Auckland Council.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3338626.
54: Delegations, or
"Auckland Transport can give some jobs to others, but keeps control of big decisions."
56: Auckland Transport's jurisdiction in respect of roads defined more widely than in Local Government Act 1974, or
"Auckland Transport has control over more roads than usual in Auckland."
Auckland Transport must not borrow any funds without the written agreement of the Auckland Council.
