@exmil 

Yes that is essentially the 1976 crest with 18 replacing 19 - though speaking as a former graphic designer the overall spacing and size of the text and central image has been arranged much better and it will work well at a smaller size compared to the current crest.

Though part of my work as a designer was often quite political (in a small P sense) - as often the process was designed to get to a particular favoured design but with the need to convince a few key players. It feels like the process was maybe intended to go back to the 1976 badge but needed to get everyone on board - maybe it even ended up being tweaked to look familiar as that was often the case that for those who don't like change can always embrace nostalgia...