This is what I had copied out regarding the 1901 directive, but doesn't seem to be verbatim.
359/10, 306 Volunteers Badges & Honours, V/ 1/17/ 221, 22.5.1901
The A.G. decided on, 16.5.1901 that the question of giving honours on account of service in South Africa must stand over until the war is ended.
Also decided that Volunteers may wear the Territorial Badges in white metal & silver but without honours in the case of those badges which have honours attached.
I'm not sure what AG was and fear I might have meant A(rmy) C(ouncil) ???
Yes, I think the SA honours were authorised in 1905 but I can't find the RACD reference at the moment.
Although Churchill often gives RACD references - or at least, dates that can be worked out - he hardly ever gives other references such as the Leics collar one you cite earlier; very frustrating !
I was interested to see that certain VB units did not adopt (bronze) OSD badges until 1906 !
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