Mark Rosenbaum
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While Greg's explanation certainly is a charming one, Jim's explanation is closer to the truth. In fact it is present to satisfy a US National Highway Traffic Safety Administration requirement to illuminate the Hazard switch. I've seen a copy of the regulation, courtesy of Jensen owner Bill Spohn ( WSpohn4@aol.com ).
If memory serves (and assuming that I've read the parts list correctly), for European LHD cars the hole was closed off with a small plastic plug, and is not present at all in RHD cars.
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