On 1 December 2008, its functions were transferred to two new organisations, the Homes and Communities Agency and the Tenant Services Authority.
Reporting in June, the Cave Review recommended that a new regulatory agency be set up, separating the regulation and investment responsibilities of the Housing Corporation.
[2] On 15 October 2007, Yvette Cooper announced that the Government accepted the recommendation of the Cave Review to transfer the Corporation's regulatory powers to an independent body.
[4] The legislative framework for both new bodies is contained in the Housing and Regeneration Act 2008, which gained royal assent on 22 July 2008.
Eco-performance standards are to be raised further for grants provided in 2008–2010, when compliance exceeding Level 3 of the new Code for Sustainable Homes will be required.