Cyclists must have a bell and must use it to warn pedestrians of their presence

I believe the Highway Code now favours cyclists to the detriment of pedestrians, especially regarding the use of shared pathways. Much of the Highway Code is merely advisory to cyclists including the use of a 'bell'. The HC states: "...slow down when necessary ... let [pedestrians] know you are there; eg., by ringing your bell (it is recommended that a bell is fitted to your bike), or by calling out politely.... do not pass pedestrians at high speed...".