Although, having re-checked the highway code it looks like your interpretation is the correct one.
Odd.
Yep, this is the 'except' sign. The sign is clearly wrong as the left hand lane is definitely a bus lane. It's marked on a the road as a bus lane and there's a bus stop slightly further down the road. So none of the info on this sign is correct!
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@Fox started
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Although, having re-checked the highway code it looks like your interpretation is the correct one.
Odd.