Mae’r Cod Ymarfer diwygiedig ar gyfer Ariannu’r Trydydd Sector yn rhan annatod o’r Cynllun. Mae’n seiliedig ar 17 o Egwyddorion sy’n cael eu disgrifio’n fanylach na chynt.  Mae’r Cod yn darparu gwybodaeth hefyd ynghylch sut mae Llywodraeth Cymru’n mynd ati i ariannu, gydag adrannau ynddo am Gomisiynu, Grantiau a Chaffael.  Mae’r Cynllun yn berthnasol i fwy na’r berthynas rhwng Llywodraeth Cymru a mudiadau’r Trydydd Sector sy’n derbyn nawdd uniongyrchol.
The revised Code of Practice for Funding the Third Sector is an integral part of the Scheme. It is based around 17 Principles which are set out in greater detail than previously.  The Code also provides information about Welsh Government’s approach to funding, with sections on Commissioning, Grants and Procurement.  The Scheme will be relevant well beyond the relationship between Welsh Government and Third Sector organisations in receipt of direct funding.