The control board is getting an incorrect voltage reading from the cold inlet valve. Check that the wiring plug is properly connected to the valve. Check the valve solenoid coil for 64 ohms. May be caused by a faulty solenoid coil but can also be caused by a fault in the PCB control board itself which will probably mean replacing it.
Mk, October 2010
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I can answer this question...
How can I fix my F&P intuitive Eco IW812, error code 49?