I attended the first board meeting of the new Codes Approval Board. As background the changes announced last year by Government saw responsibility for the consumer codes approval transfer from the office of Fair Trading across to the Institute. Lots of work has been going on behind the scenes in readiness for the transfer on the 1st April. What is really pleasing is that, despite it moving from something that is free for codes sponsors to a product that is charged for, the vast majority of code sponsors have agreed to come on board. This is not just a great testament to their faith in us as an Institute and the value that the brand TSI brings to the consumer world but also a ringing endorsement to how we have approached setting up the successor regime.
Our prime driver is to improve standards within sectors, and balance the needs of businesses and consumers. To achieve that we have established a not for profit community interest company, that means any assets are locked into a charitable organisation. In this case our own College of Fellows. We are establishing an independent board, code sponsor and consumer panels to drive our work forward.
We are now embarking on our work to provide business advice and education as part of the new landscape.
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