88.— (1) Subject to this section, a person representing one or more traders may submit a code of practice to the Agency for its review or approval.

(2) The code of practice shall be submitted in the form and manner specified by the Agency.

(3) The person submitting a code of practice for approval under this section shall provide the Agency with any information the Agency considers necessary or appropriate for the purposes of subsection (4).

(4) If satisfied that the code of practice protects consumer interests and is not inconsistent with this Act or any other enactment, the Agency may approve the code of practice.

(5) A code of practice approved by the Agency may not be amended without approval of the proposed amendments by the Agency and, for this purpose, subsections (3) and (4) apply with the necessary modifications.

(6) The approval by the Agency of a code of practice or any amendments to such code shall be in writing.

(7) The Agency may withdraw any approval under this section if the Agency is of the opinion that, in the implementation or operation of all or part of an approved code of practice or amendment to it, such code, part or amendment fails to protect consumer interests or is in any manner inconsistent with this Act or any other enactment.

(8) If—

(a) it is alleged that a trader who is a signatory to a code of practice with the approval of the Agency under this section has contravened this Act or a complaint is made to the Agency in relation to a commercial practice of that trader, and

(b) the approved code of practice referred to in paragraph (a) provides for procedures or a means of handling or considering such contraventions or complaints,

then the Agency may defer consideration of the complaint or the court may defer hearing an application for a prohibition order under section 71 (respecting prohibition orders) or an action for damages under section 74 (respecting a consumer’s right of action for damages) until the means or procedures referred to in paragraph (b) have been exhausted.