Hello again everyone.
Update time. Well after purchasing 2 x 7/16 BSCY thread nuts from
http://www.classicfasteners.com.au/ as suggested by Tomcat (Cheers mate). I was very happy to receive the same the very next day, absolutely brilliant service and updates throughout the afternoon and next day as to the status of my package. I cannot recommend these people highly enough. Now to the fun part.....
I proceeded to apply the nuts to the thread (both sides) with no joy. Then I reapplied the old nut that i still had and it went on fine (both sides) but i did notice a little galling on the thread but that could be explained by over tightening, and was easily cleaned up with a fine jewellers file. I was struggling to find my thread gauge but calculated that it was indeed 20 TPI. I then decided to enlist my fathers help for checking purposes, and we both came up with the same results. So it was then decided to, just for curiositys sake to run a 7/16 NF 20 TPI die down the thread, and a tap for the existing nut. Sure enough as Tomcat suggested. The P.O. had done that, there was very miniscule amounts of swarf coming off the thread, this stuff was so fine you could hardy see it, human hair width is a good likeness. So I made the decision to do the same to tap the BSCY threads to the same to save re ordering. So now its in-situ and doing what it's meant to be doing.