The Regulation Committee’s objectives are set out in the Localism Act 2011. The Regulation Committee is responsible for the regulation of social housing providers in England. It has two distinct roles set out in statute. These are in relation to economic regulation and consumer regulation.
The Regulator maintains a register of providers of social housing. Providers may be
Private providers may be registered as either "for profit" or "non profit" organisations.
The economic regulation objective applies only to private registered providers and is the main activity of the Regulator. The objective, in summary, is to ensure that those providers meet standards set by the Regulator in relation to matters such as their governance and viability. There are full details of the standards that relate to the economic regulation role and how economic regulation operates in the Regulatory Framework 2012.
The consumer regulation objective applies to all registered providers. The Regulator’s main activity in this area is to set standards related to consumer regulation matters, which are principally in relation to the services that registered providers make available to their tenants. In other respects, the Regulator has only a backstop role in this area, and does not proactively monitor compliance with those standards. There are full details of the standards that relate to the consumer regulation role and how consumer regulation operates in the Regulatory Framework 2012.
The Regulator's fundamental objectives are:
The regulator must perform its functions with a view to achieving (so far as is possible) -
The economic regulation objective is -
to ensure that registered providers of social housing are financially viable and properly managed, and perform their functions efficiently and economically,
to support the provision of social housing sufficient to meet reasonable demands (including by encouraging and promoting private investment in social housing),
to ensure that value for money is obtained from public investment in social housing,
to ensure that an unreasonable burden is not imposed (directly or indirectly) on public funds, and
to guard against the misuse of public funds.
The consumer regulation objective is -
to support the provision of social housing that is well-managed and of appropriate quality,
to ensure that actual or potential tenants of social housing have an appropriate degree of choice and protection,
to ensure that tenants of social housing have the opportunity to be involved in its management and to hold their landlords to account, and
to encourage registered providers of social housing to contribute to the environmental, social and economic well-being of the areas in which the housing is situated.
The objectives are referred to in this Part as the regulator's fundamental objectives.
The regulator must exercise its functions in a way that -
minimises interference, and
(so far as is possible) is proportionate, consistent, transparent and accountable.