In the Government's announcement today about the proposed reforms to the regulatory framework for higher education, it was noted that legislation was needed in due course to place HEFCE's regulatory powers on a new footing. Currently, HEFCE can attach conditions to its grant funding to institutions but that funding is diminishing. Accordingly, it is proposed, pending any legislation, that all providers which are designated as eligible for student loan support will be subject to "designation conditions" from the 2014/15 academic year. This is described as being a "formal, legal document". Potential sanctions include the issue of an improvement notice, a freeze or cut in student numbers and the withdrawal of designation. Compliance with the conditions will be monitored by HEFCE, sector bodies such as the QAA and OIA and also by students and the NUS. In the event of designation being withdrawn, a Designation Resolution Process is being developed to protect students. HEFCE will also be consulting this autumn on the terms of a new Financial Memorandum and the Government's statement indicates that "the most significant issue for consultation being new arrangements to manage the risks around financial commitments." It is proposed that a system of Student Numbers Control is introduced for alternative providers from 2014/15. It is planned that the newly published Operating Framework document will be updated by 1 August 2014.