23 May, 2014
The CLC is today publishing its Financial Statements for 2013 here. They show that new Chief Executive Sheila Kumar, working with the Chair and Council, has put the specialist property law regulator onto a solid financial footing.
There were unforeseeable additional burdens on the CLC in 2013 because of an increase in the number and scale of interventions needed to protect the consumers. Despite this, savings from efficiencies introduced during the year and tighter cost controls meant that the regulator ended 2013 in line with budget provision.
The CLC is committed to the principles of better regulation and ensuring that the financial and compliance burden on the practices it regulates is proportionate because that too is in the interests of consumers, who ultimately pay for regulation.