3.—(1) There is established a combined authority for the combined area.
(2) The combined authority is to be a body corporate and to be known as the Greater Manchester Combined Authority (“the GMCA”).
(3) The functions of the GMCA are those functions conferred or imposed upon it by this Order or by any other enactment (whenever passed or made), or as may be delegated to it by this Order or any other enactment (whenever passed or made).
4. Schedule 1 (which makes provision about the constitution of the GMCA) has effect.
5.—(1) The constituent councils must meet the costs of the GMCA reasonably attributable to the exercise of its functions relating to economic development and regeneration.
(2) The amount payable by each of the constituent councils is to be determined by apportioning the costs of the GMCA referred to in paragraph (1) between the constituent councils in such proportions as they may agree or, in default of such agreement, in proportion to the total resident population at the relevant date of the area of each council concerned as estimated by the Registrar General.
(3) For the purposes of paragraph (2) the relevant date in relation to a payment for a financial year is 30th June in the financial year which commenced two years previously.