If you look on the photos I sent you of the tailpack you can see mine hanging on the rear footpeg mount. That is a Motrax holder, which I prefer because it has a ring of allen head screws rather than a screw on cover.
You would get away with "it's in my pocket because it'll get nicked off the bike", unless the guy is a real "jobsworth" and is determined to nick you for something. I keep mine on the bike simply because the less reason I give them to stop me the less likely I am to get nicked for the loud cans or the radk visor! If they can see a tax disk then they know you are likely to be insured as well because you have to have that to get the tax?
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