In exercise of its power under section 194 of the Act to set Standards relating to economic matters with which registered providers of social housing are required to comply, the regulator has decided to replace its Value for Money Standard.
In exercise of its power under section 195 of the Act to issue a code of practice, the regulator has decided to issue a Code of Practice which relates to and amplifies the Value for Money Standard.
In compliance with the requirements under s196 of the Act, these decisions have been taken following consultation.
The revised Standard and the Code of Practice are as set out in Annex 1 and Annex 2, respectively.
The revisions referred to in this Decision Instrument supersede the Value for Money Standard which took effect from April 2012.
This decision comes into force on 1 April 2018.