You'll see that the felt can be rolled around the column to form a collar.
Remove steering wheel and indicator stalk assembly. Undo the two
Big cross head screws to loosen the column clamp. The outer
Cylinder of the column is then free to move and slide up and down the
Inner column.
The bush is first oilled then fed into the space between column and
Outer column/ Mounting (first loosen the mounting ), slide it in with
Plenty of oil, then assembly is the reverse of the above etc.