A Bill has been introduced into the UK Parliament with the stated aim of
To make further provision with respect to the safety of & liability for the deliberate release or marketing of genetically modified organisms & genetically modified food; to establish a genetically modified organism compensation fund; & for connected purposes.
It can be viewed at: http://www.parliament.the-stationery-office.co.uk/pa/cm199899/cmbills/128/1999128.htm
It can be noted that it inlcudes a definition of the "precautionary principle"
"precautionary principle" means that where there is a risk of significant damage to human health or the environment lack of scientific certainty should not be used as a reason for not taking or for postponing measures to avoid or minimise such a risk;".
Since it is not a government Bill, it is unlikely that it will progress very far.