Who has got the power? What are the objectives of the regulatory bodies?
How do they operate?

Before 1994 There were two the most powerful regulatory bodies in the UK:
Arts Council of Great Britain and Arts Council of Northern Ireland.
But in 1994 Arts Council of Great Britain break up creating the following three:
Arts Council England
Scottish Arts Council
Arts Council of Wales

The Hertfordshire Visual Arts Forum is a voluntary, non-profit-distributing organisation established in 1990.The HVAF is the only countywide visual arts organisation for Hertfordshire.Hertfordshire Visual Arts Forum is for everyone who is interested in visual arts, full or part-time. Run by an enthusiastic voluntary Organising Group, with members from all areas of involvement in the visual arts who live or work in the county.