Consultation on the future of regulation of the private security industry and the future role of the SIA is set to close on 15 January 2013. Regulation of the industry was passed to the SIA in 2003, following implementation of the Private Security Industry Act 2001. As part of a cost-cutting exercise, consultation is being taken to assess the possibility of regulation once more becomming an industry concern. The purpose of the consultation is to seek views on preferred options for reforming the regulation of the security industry, by way of a transition to a business-based regulation regime. The consultation includes a proposal for a new regime, developed in partnership with industry representatives. The timescale of the consultation has been relatively short, and crossed over the festive holidays, which further reuced the likelihood of all relevant parties being able to respond. Those wishing to participate can comment online via the Home Office website.