During 2002, the government and industry worked together to produce a voluntary Commercial Code of Practice (CCoP) to aid negotiations such as asset transfers. The purpose of the CCoP is to help establish an agreed framework that would minimise (the often very considerable) resources spent on such negotiations and promote positive and co-operative commercial behaviour. The Code is supported by a champion from each company who together promote the code. The Code is being updated to reflect the MER UK Strategy.
More information is available here.