Yes, the pipe is to, as a last resort, drain the fuel clear of the hot parts. In normal conditions it should not have to do that. You need to fix the cause of the problem, as well as fitting the drain. Unfortunately, I can't find a part number or any other info for the drain, but it can be made from Cunifer or bundy pipe (don't use copper, the vibration will kill it), same diameter as the stub on the carburettor, to which it is joined by a short piece of rubber tube. It is normally fixed to the transmission case by, if I recall correctly, two metal P clips. Use the rubber lined type if possible, so it will neither chafe nor rattle. I strongly recommend waiting until someone comes along with a picture, to see exactly where it is supposed to fit, or search through the project threads for a picture.
As has been said, the problem centres on the needle valve and float, which are much the same in principle as on any carburettor. Usually the needle valve is sticking intermittently, so replace it anyway. It is a lot cheaper than the petrol you are wasting, far less the possible fire damage. Make sure the float pivots freely on its pin, and is not leaking (i.e. no fuel inside). Check that there is a sealing washer between needle valve body and carburettor lid. Set clearance as per Haynes manual to get correct fuel level.
The needle valve assembly is part WXZ1100. See the Somerford web site, part 40.
http://www.somerford...age=page&id=167