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(1)London Regional Transport shall have power to enter into and carry out agreements with—
(a)the council of a London borough ;
(b)the Common Council;
(c)any urban development corporation established for an area in Greater London under Part XVI of the [1980 c. 65.] Local Government, Planning and Land Act 1980 ; or
(d)the council of any district;
with respect to the provision or continued provision by London Regional Transport, and the financing, on such terms as may be agreed between the parties, of public passenger transport services and facilities which would not be available apart from any such agreement.
(2)The council of a London borough, the Common Council and the council of any district shall each have power to enter into and carry out agreements with London Regional Transport with respect to the matters mentioned in subsection (1) above.
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