SRG regulation is (and please feel free to correct me if anyone knows better) fairly lax under the current system. Both in NATS and non-NATS a/d's. WHen was the last time you heard of SRG insisting on new equipment at an airfield?
They wanted (for example) EGAA to have SSR for years and NATS/EGAA simply said no.
When they do find equipment faults (and this is a bit apocryphal) they simply insist they are fixed. They never fine, or actually close (or even restrict) operations until it is fixed.
That system may work ok at the moment (I don't think it does) but it won't work at all come privatisation.
My 10p wasn't meant to be quite so long.