The Transferred Episcopal Arrangements proposal, also known as 'the flying bishops', would provide a group of male bishops who would be available to work in a parish which was unwilling to accept a woman bishop.
The committee which suggested it were hoping to avoid a potentially disastrous split, whereby those who were opposed to women bishops might leave the Church of England altogether.
The Rt Rev Lindsay Urwin, Bishop of Horsham, has said in the past that he does not support the consecration of women bishops.
Not, he hastens to add, because there is anything inherently wrong with the idea, but because of the discord it will create within the Church.
Talking to the County Times, he explained: "Painful though it is, it's a choice between the ordination of women as bishops and going further away from unity."
Promoting unity across the Church of England is one of the main functions of a bishop, he says, therefore the role cannot be fulfilled by someone who lacks support from a large section of the Church.
"I myself think that the compromise plan isn't good enough – I think it will lead to more heartache, not less."
Bishop Lindsay admitted: "I don't have the answer, which to me is a sign that now is not the right time.
"It's a noble attempt by the committee that was set up by the bishops to deal with this, but all it does from my point of view is reveal that now is not the right time."
In July last year the Church of England's General Synod voted to remove the legal barriers which had prevented women from being ordained as bishops.
This means that the first women bishops could be taking office in 2012.
The 'flying bishops' scheme was put forward by a working party led by the Bishop of Guildford. Their compromise suggestion is due to be considered at a meeting of the General Synod next week.
"You can't conclude from the Bible that it's essential for women to be bishops," said Bishop Lindsay, "but you can conclude that Jesus wants the Church to be united.
"Though I respect those that come to different conclusions, when difficult choices have to be made, I'm afraid I will not myself participate in something that will lead to further disunity.
"It is with hesitation I say these things, because I know many fine women priests in the area of which I am bishop."
If nothing else, he says, the controversy will encourage people to discuss an issue on which many have been reluctant to express their views.