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Remove the footrest rubber Dom and check to see what shape the bar is, the 500 and the 550 used different shape rods, IIRC, the 500 used square type and the 550 flat type. As the 550 uses footrest rubbers that are held by bolts going through the rubber and threaded into the bar and the 500 doesn't have that, if you swap the bars over and drill holes for the bolts unless you get them right they don't line up and the rubber sits at an angle.
Something not right there Dom. The rear brake pedal is miles too high for starters. The dot on the pedal and the dot on the rear brake actuator arm are supposed to align.
Try turning the peg down on the bolt
I am probably wrong but i seem to remember the tand on the footrest bar locating againg the frame peg that sticks out
I'm pretty sure I have the same on a 550f frame. Funny flip-up peg to avoid kickstart exhausts etc. with the peg in a different location to the K models. I assumed the foot rest was angled forward to give a sportier lean forwards towards flat bars on the F model.