The Committee of University Chairs (CUC) , slimmed down from the 150 pages of the previous version, originally produced in 2004.

The code seeks to be clearer and more useable for an audience beyond just governing bodies.

There are revised wordings or new governance principles in a number of key areas, including the setting of vice-chancellors鈥� pay, transparency and ensuring decisions are free of 鈥渦ndue pressures鈥� from donors or corporate sponsors.

But overall, the code does not offer major revisions in terms of its substance 鈥� in contrast with the more major exercise undergone in Scotland, where the Scottish Code of Good Higher Education Governance was published in 2013 following a government-commissioned review. The Scottish government is now consulting on university governance legislation that would require elected chairs and the inclusion of student, staff and union representatives.

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The publication of the CUC code comes after a series of sudden exits for vice-chancellors 鈥� some amid tensions with governing bodies 鈥� and as the emergence of a higher education market changes the way universities behave.

鈥淲hile members of the CUC will recognise many of the provisions of the code from previous versions, stylistically the code is substantially different, and it is now much more concise,鈥� says Sir Nick Montagu, outgoing CUC chair, in his covering letter to the code.

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Sir Nick, chair of council at Queen Mary University of London, also says: 鈥淚n light of a growing demand for 鈥榗onsumer鈥� protection and transparency, I cannot stress enough the importance of actively providing assurance in contributing to the defence of the sector from further legislative or regulatory creep.

鈥淲e see the code as a vital guardian of autonomy and a bulwark against external interference and over-regulation.鈥�

UK governing bodies are not required to follow the code. It applies on a 鈥渃omply or explain鈥� basis 鈥� meaning that if governing bodies do not follow parts of the code, they must explain why.

By 鈥渧isibly adopting鈥� the code, governing bodies 鈥渉elp to protect institutional reputation and provide a level of assurance鈥� to students and society, the code document says. The code is to be revised every four years.

There is a new statement in the revised code that each governing body 鈥渕ust promote equality and diversity throughout the institution, including in relation to its own operation鈥�.

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Each governing body 鈥渟hould鈥� conduct its affairs 鈥渋n an open and transparent manner鈥� and options they 鈥渃ould consider鈥� include 鈥減ublishing agendas and minutes of its meetings鈥�.

The Scottish governance review, led by Ferdinand von Prondzynski, principal of Robert Gordon University, went further and recommended that 鈥渕eetings of governing bodies should normally be held in public鈥�.

Recent years have seen a number of controversies over donations, most notably at the London School of Economics in 2011, where a review set up by the institution found failures of governance, management and communication surrounding funding links with the Gaddafi regime.

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鈥淭he governing body must ensure that its decision-making processes are free of any undue pressures from external interest groups, including donors, alumni, corporate sponsors and political interest groups,鈥� says the new code.

On remuneration committees, which decide vice-chancellors鈥� pay, the code says that committee members 鈥渕ust consider the public interest and the safeguarding of public funds alongside the interests of the institution when considering all forms of payment, reward and severance to the staff within its remit鈥�.

In a passage that may have relevance to future repeats of recent fallings-out between governing bodies and vice-chancellors, the code says governing bodies 鈥渃ould consider鈥� the 鈥渇ormalisation鈥� of a deputy chair鈥檚 role.

This role could 鈥渁ct as an intermediary with other members as may be required, and potentially can be helpful if there are significant differences of view within a governing body or with the executive鈥�, the new code says.

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john.morgan@tesglobal.com