In the meantime, the Government plans to introduce changes, due to come into effect on 2 July 2012, to restructure the FRC (which is responsible for the Code and the Stewardship Code) and to strengthen its independence.  

Proposals to reform the Financial Reporting Council: a joint Government and FRC response available at:

http://www.frc.org.uk/images/uploaded/documents/Joint%20BISFRC% 20response%20to%20FRC%20reform%2026%2003%2012.pdf