Trim any bloodline from the cod. Place on a plate, sprinkle both sides with the salt, cover with plastic wrap and refrigerate for 1½ hours to draw out the moisture.
Rinse the salt from the cod. Place the milk, bay leaf, thyme and peppercorns in a saucepan over low heat and simmer for 15 minutes to allow the flavours to infuse. Add the cod and cook for 8 minutes or until cooked through. Allow to cool in the milk. Remove the cod and set aside. Strain the milk and reserve.
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