Hi Jack - thanks for taking the time to respond with help

I'm pretty sure the threaded bit is just an overlay - I can just see down between the crankcase and the pulley, and it looks like the actual crank is about 2/3 the diameter of the the big threaded shaft on the pulley.
I have considered whether or not it just unscrews, and even had a half hearted attempt to unscrew it - but of course I couldn't really secure the crank, so it wasn't a serious effort.
And no - I don't think its an original J.A.P. part - I don't have a manual for it - but I'm hunting around for one.
Thanks heaps for the thought - I might have to try and lock the crank, or do some research and see if this end of the crank even has a thread on it.
Thanks again

I have just posted a new Thread about the restoration - so you can see more complete photos of the whole engine there.
Polybus