The findings would be reviewed over the next few months, and further consultation take place if necessary.
He said: We will decide sometime in the summer what to do with the code. In the meantime any breaches will be dealt with. The code is still in place and can be used."
The OFT has received only two complaints under the code since it came into effect in March 2002, and there has been much criticism from suppliers that it is ineffective.
However the OFT said it had always planned to review the operation of the code after a year and denied it was a response to the criticism.