Code objects are used by the implementation to represent ``pseudo-compiled'' executable Python code such as a function body. They differ from function objects because they don't contain a reference to their global execution environment. Code objects are returned by the built-in compile() function and can be extracted from function objects through their func_code attribute.
A code object can be executed or evaluated by passing it (instead of a source string) to the exec statement or the built-in eval() function.
See the Python Reference Manual for more information.