How does the turn signal canceling ring stay in place?

[John-T]

I thought the canceling ring should just slide in the circular part with a tight fit and stay in place, but this is loose.
Is this the way it should be and by tightening the steering column nut it will hold it in place? Or is this the wrong canceling ring?

Thank you in advance.

 

[Stevehose]

the ring presses on the steering column, not the wheel. When you pull the wheel off the ring stays in its place. Not sure if that is the correct one though.

 

[John-T]

Thanks Steve. Now it makes more sense. Im going to pull out the old steering and see whats going on in there.
Here is a close-up picture of the canceling ring