Yes it does. One edge is concave - goes against the lower half of the bush - but some greece on the surface so it slips easy. The LARGER end of the spring goes into the steering column first and presses against the first rib of the collapsable bit.

If u look at ur new bush, it has a groove in it. When u tighten the steering wheel, it pulls the shaft and hnece the this push up into the column (u slide the new bush over the shaft - the spring stops u putting it in the coloumn). Make sure the new bush is aligned with the groove in the column. Tighten the steering wheel before u tighten all the column mounts or fit any switches - to drawn the lower bush into the column. It's quite tricky - if u get someone to tighten the steering wheel whilst you put ur head in the footwell to check its aligned, its much easier.

If its not aligned proper - u get all sorts of problems - i know.