The British Beer & Pub Association (BBPA) has been forced to withdraw its code on drinks promotions over fears it breaches competition law.
The code, issued in 2005, was designed to stamp out irresponsible "happy hour" promotions in the trade.
But following new legal advice the BBPA has decided to drop the voluntary directive.
Mark Hastings, the BBPA's communications director, said: "In the light of that advice we thought it prudent to withdraw it until this issue is resolved."
However he added he was confident that pubs would continue not to offer irresponsible promotions.
"Pubcos and individual pubs have always implemented their own policy anyway," he said.
The action coincides with the government's current focus on tackling loss-leading deals in the off-trade. Some ministers, it is understood, favour setting a minimum price for a unit of alcohol. However it is feared such action could breach competition laws.
Asked whether the BBPA's action was prompted by this, Hastings added: "The two issues are linked but are very different because pubs have made an effort to tackle this issue, whereas supermarkets have not."
The Sheffield University review of the relationship between the pricing and promotion of alcohol is due to be delivered to ministers by the end of this month.