This is actually a local story. (EDIT: As I have lived in Northampton for the last 10 months)
There are a couple of old chaps around here who wander around in ladies clothes, and I think they should be perfectly entitled to, we are a liberal free minded society after all.
I think the ASBO is just to prevent him doing it in a lewd fashion when kids are on their way to or from school.
He is free to wear that outfit the rest of the time though.