The SC, if it is the main one the supply, is the property of the water company and the point at which ownership normally changes. It's usually on the public side, close to the boundary. I'm not sure if the one your are describing is the main one, or how your supply is routed.
Either way, make sure this one is accessible, if a meter were ever to be installed, it would be installed somewhere more accessible, in the public domain.
Fyi a new meter is install is usually a small excavation, squeeze off of the existing supply, a new meter box, and a metre or so of new pipe, coupled to the existing pipe either side.