There is but it is now closed. The old boiler had a pump overrun but the new ones doesn't so it is not needed any more, I believe.
The idea of the bypass, is to short-circuit you heating system, so there is still some flow of water through the boiler, to help cool it, once all of the TRV's are satisfied, and closed. The bypass is pressure valve operated, if the pressure rises above a set level, it opens, allowing flow via the bypass. CountryFan may have in mind, that the bypass is sticking open, providing an easier route for the flow.

