Originally Posted by
operator
Wrong.
That clip can be undone with the bolts fully up to torque. The purpose of the clip is to retain the crank in case both bolts become undone.
I thought it was to put a preload on the crank prior to tightening the two bolts on the crank arm, kinda like a threadless headset. Then it acted as a dust cap after that. But I can see that it would the crank arm on if the bolts came loose.