That's according to Infrastructure Minister Chris Thomas, who says an updated version should be brought in next year.
The code was last significantly updated in 2014, and will now mostly adopt the UK code, but also incorporate local variations such as the horse trams and derestricted roads.
Mr Thomas listed some of the main changes:
Charity holding suicide prevention training in June
Training is being offered to those who want to help prevent deaths from suicide next month.
Manx resident caught-up in Georgian protests
An Island resident caught up in protests in Georgia says he's been questioned by police - who couldn't understand his Manx identification.
Hebridean Sky cruise ship arrives today
The west of the Island is getting its first visit of the year from a cruise ship today.
Number of children who committed crimes after police intervention not known, says MHK
The Island's Justice Minister says she doesn't know how many children have committed offences after interventions from the police early action team.
Biker seriously injured after van pulled out, Court hears
A court's heard a biker was left seriously injured after a van pulled out as she overtook it during TT.
Tynwald Day and rehearsal road closures announced
Road closures for the Island's National Day - and a rehearsal of the event - have been released.
Want to work at the Wildlife Park?
Would you like to look after small animals at the Wildlife Park?
Manx gov pays UK around £3.3m a year
The government says it's paying the UK around £3.3 million a year - but it's not sure what it's getting for its money.
