The MOPC, which replaced the Metropolitan Police Authority (MPA) in January, provides the Metropolitan Police with its strategic goals and scrutinises the force and Commissioner.
In turn MOPC is scrutinised by a new London Assembly Police and Crime Panel.
The new arrangements apply only to the Met, the City of London force and British Transport Police continue to have their own governance arrangements.
By law the Mayor is allowed to appoint a Deputy Mayor for Policing to carry out the functions of the MOPC if he or she wishes.
Incumbent Mayor Boris Johnson appointed Kit Malthouse, former Chair of the MPA to the role.
In his 2008 manifesto Mr Johnson promised that he would chair the MPA however he soon stepped down from the body and appointed Malthouse in his place.
On Tuesday Mr Livingstone announced he would “take full responsibility for policing” by heading the MOPC.
Ahead of a visit to Lambeth Livingstone said Londoners “expect the Mayor to take crime seriously and put their safety first.”
He added: “‘I’ll do that by reversing the damaging cuts which Boris Johnson has made to the police and putting every possible resource into the fight against crime to make Londoners safer in their homes and streets. I’ll never walk away from the fight against crime as the Tory Mayor has done.”
Speaking to this site, Mr Livingstone said he was making the commitment because recent scandals at the Met including accusations of racism had convinced him the Mayor needed to take personal charge.
Livingstone said the biggest priorities for the next term would be policing and transport which would be lead by Deputy Mayor running mate Val Shawcross.
He also said there needed to be “real accountability” around the Met and promised to co-operate with the London Assembly to deliver this.
Candidates for Mayor include Jenny Jones (Green party), Ken Livingstone (Labour), Lawrence Webb (UKIP) Boris Johnson (Conservative) and Brian Paddick (Liberal Democrat). A full list of candidates can be found here.
Candidates standing as London Assembly constituency members can be found here. Candidates for the 11 Assembly London-wide seats can be found here.
