The Principles for Better Regulation of Higher Education in the United Kingdom (November 2011) were developed by HEBRG and apply primarily to organisations that have a direct responsibility for regulating or holding to account any aspect of higher education provision offered by UK institutions. The full text of the Principles is available here: 
PRINCIPLES.pdf
HEBRG expects that regulators and funding bodies, government departments, sector-specifc agencies, professional, statutory and regulatory bodies and higher education providers within the scope of the proposed single regulatory framework will wish to commit wherever appropriate to the six Principles:
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Regulation should encourage and support efficiency and effectiveness in institutional management and governance.
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Regulation should have a clear purpose that is justified in a transparent manner.
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Regulation depends on reliable, transparent data that is collected and made available to stakeholders efficiently and in a timely manner.
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Regulation assessing quality and standards should be co-ordinated, transparent and proportionate.
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Regulation should ensure that the interests of students and taxpayers are safeguarded and promoted as higher education operates in a more competitive environment.
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Alternatives to regulation should be considered where appropriate.