Nup! I had tried that as it would have sort of solved my problem. But if you try to do it at design time it throws the Image onto the main form. If you try to do it at run time, you get an error message that Control of Class 'TRichMemo' can't have control of class 'TImage' as a child.
Basically what I want to do is have a RichMemo which is being used as part of an invoice and have an image with text on its canvas representing Electronic Banking Data which the user can make visible if required and move to the normal position under the signature or anywhere else suitable within the memo.