Thanks ToneDeaf that is what I was on about, so I am not losing my marbles yet 
Just after the Mercury prefix, was then the Mercury button handset, which had the code in a blue button, and then 10 years after that we got dialler boxes that you plugged into the phone socket before the phone cable.
These were then replaced by something called "Carrier Pre Selection" where essentially the prefix code was dialled for you - so line rental went to BT retail, and calls went to your chosen provider.
Now other companies (e.g. O2 and BE) can offer Wholesale Line Rental where they are paid direct for the whole line cost, and manage the billing, but the line is still operated by BT retail using BT owned hardware at the exchange.
Then of course you have the full unbundle (e.g. Sky, TalkTalk) where the line is only plugged into that telco's equipment, and that telco pays Openreach a fee to maintain the copper wires.
James BT Infinity 2 19/09/2012 - Sold 42/6 - Getting 49/8.5 - Sync 53 / 9.5 Mbps @ 470m approx
14 years of broadband (ntl: cable to BT FTTC) - Router: Asus RT-N66U - Modem: Huawei HG612 speedtest