I like it! The edge marking must indicate the person it was issued to. I wonder if this was awarded for actually saving the life of a drowning person, or for the completion of an advanced training course in lifesaving, or what.
I believe it was part of the learn to swim drive started by Frank Beaurepaire in the 1920s & 30s where a program was initiated to teach kids at school. I think that this is like the original "pool bronze" award. You should make enquiries with the RLSS.
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