Diversity: UK Sport and Sport England launch review into board make-up
UK Sport says it is "particularly mindful" of the need to diversify the boards of sporting organisations.
An immediate joint review alongside Sport England will look at potential changes to the Sports Governance Code.
The main element of the review will be the make-up of boards.
Research last year showed Black, Asian and minority ethnic (BAME) people accounted for just 5.2% of board members across 130 UK Sport and Sport England-funded organisations.
Across the major domestic sports there is just one black board member, Anne Wafula Strike, from UK Athletics.
The 2011 census - the most accurate source - showed that 14.5% of the English population were from BAME backgrounds.
In announcing the review, UK Sport chief Simon Morton says boards need to be reflective of society.
"National governing bodies have delivered a huge amount of positive change since the introduction of the Code," he said.
"However, it has always been our intention to review it at the end of the Tokyo Olympic and Paralympic cycle, in order to consider whether there are areas in which it can be enhanced.
"We are particularly mindful of the need to ensure that boards are reflective of society across the UK. We've seen the power of the Code to effect positive change to the gender balance of sports boards, and it's right that we consider how this approach can be broadened."
Last month, Nigel Huddleston MP said the time was "absolutely right" to revisit the Code.
As well as what is described as a 'substantive review' of the elements of the Code relating to boards, there will also be a "general review" of the other elements of the Code and a "check against current governance best practice" from when the Code was launched three years ago.