In the House of Commons Debates on the 6th of February 2012, Lynne Featherstone (a minister from the Home Office) clarified the position of the Home Office in response to a question regarding changes to the regulation of the private security industry.
Mr Amess: To ask the Secretary of State for the Home Department whether she plans to bring forward legislative proposals to amend the regulation of the private security industry in each of the next two years; and if she will make a statement. 
Lynne Featherstone: As announced in October 2010, there will be a phased transition to a new regulatory regime for the private security industry, with no significant changes until after the Olympics. Work on the transition is under way, and as many changes as possible will be made using secondary legislation. This will mean that the key components of the new regime, including business licensing, will be in place by the end of 2013. Primary legislation will be required at the end of the process to abolish the Security Industry Authority and formally set up its successor.