Stan,
You can in fact have an IMC endorsement on a JAA CPL. <a href="http://www.srg.caa.co.uk/documents/srg_fcl_gid15.pdf" target="_blank">www.srg.caa.co.uk/documents/srg_fcl_gid15.pdf</a>
This is particularly relevant for modular CPL holders who are instructing, holding off their IR until they need it ..or can afford it... within the 36 month limit.
As you say however it is valid only in UK airspace.
[ 05 January 2002: Message edited by: clear prop!!! ]</p>