Whilst oversleeving another colour is compliant with BS 7671, let us not forget that BS 7671 does clearly state that the conductor should preferably be identifiable throughout its length.
One can certainly argue that it is the ideal, even though other options are compliant. I have no problem with it, but personally feel that (and feel that the regs should require) there should be some additional identification of a switched conductor as such - which is why, personally, I would always add that functional identification.
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