Rather interestingly, it is quite possible to hold a JAR-PPL with just an MEP rating on it, never having had the SEP rating.
How would that work? I ask because of the requirement for 70hr TT (or was it PIC?) before you do your MEP.
On the other hand I do know a CPL who has never had an SEP rating, but he never held a PPL, coming from a Flight Engineer background (and Navy rotary before that)