Pubcos are on "probation" and "absolutely not off the hook" — that's according to the MP who heads the Business Innovation and Skills Committee.
Pubcos have been given 15 months to change before action is taken ('Pubcos have until June 2011 to change').
When asked if the failure to recommend an immediate Competition Commission inquiry meant the pubcos were off the hook, Luff replied "absolutely not".
He said: "If the pubcos think think they have got off then they are in for a rude awakening."
He promised an "intense period" of assessment of the new pubco codes next June.
He also expects another tenant survey to be undertaken.
Luff said: "The Competition Commission inquiry might find in favour of the current system and take four years.
"We could have been heroes and said it is all rubbish and refer it to the Competition Commission — that would have been great for my image.
"But I didn't think that would have made a real difference on the ground.
"I think there is a chance to bank some changes."
However when asked if he was confident of change by the pubcos, he replied: "I am not confident. Their track record is a disappointing one."
Luff said he was particularly impressed by BII chief executive Neil Robertson and urged the pubcos not to "nobble" him as their codes go through the strengthened BIIBAS accreditation scheme.
Elsewhere, Luff told a press conference that it was "ludicrous" the BBPA would not talk to the IPC.
He said that would be "powerful evidence" that things have changed.