I can explain by relating to a Circle AW catalog for meter sockets. Its lists sockets for underground and overhead use. The overhead sockets are not as wide, as this one is, meaning to me its designed for a top feed to the can. However meters are designed to be wired with the feed on the top lugs.
Here is the information from the UL White Book:
METER SOCKETS (PJYZ)
Meter SocketsPJYZGENERAL
This category covers meter sockets, which are complete enclosures accommodating plug-in type watt-hour and similar meters. They provide terminating means for conductors of wiring systems recognized by ANSI/NFPA 70, "National Electrical Code."
The tightening torque required for terminal screws is specified by a marking.
Terminal wire connectors may be omitted and, if omitted a marking specifies which connectors are intended to be used. Instructions for the field installation of connectors are provided with the connectors.
Meter sockets are suitable for supply wiring to enter the enclosure from either the top or the bottom, unless the meter socket is marked "Overhead Feed Only" or "Underground Feed Only," or the equivalent. The marking "Top Feed" is considered equivalent to "Overhead Feed," and "Bottom Feed" is considered equivalent to "Underground Feed."
The ratings of these meter sockets are limited to 600 V ac maximum and to 400 A maximum through any one meter.
Meter sockets rated over 30 A are marked with their short-circuit current rating in rms symmetrical amps. For short-circuit current ratings exceeding 10 kA, the marking includes the type and rating of overcurrent protection to be used with the meter socket.
Meter sockets are marked with a continuous amp rating and may in addition have a maximum use (intermittent) amp rating of not more than 125% of the continuous amp rating.
Do you have the latest version of the UL white book? Its interactive and is coordinated with the NEC - for the CD version.