Thank you all for the responses!
Yeah, I tried finding the component specs myself, before asking for help here (and usually am lucky enough to find it) but, like yourselves, I didn't quite get the exact part for this one.
In any case, I think I figured out its purpose in the circuit and that is to clamp the power supply to the DMM, in case more than 3V is supplied (the output of this component drives the base of an NPN transistor whose collector is connected to the positive of the power supply and emitter to the negative of the supply).
On to the next part of the circuitry, trying to understand why the DMM is drawing 5mA with the rotary switch in the OFF position.

This meter is rather peculiar, as the OFF position is a "soft" power off - i.e. some parts of the circuitry are still drawing power - but, still, 5mA is quite a bit (another, working Fluke 185 is drawing something in the uAmps in the OFF position).