English: Arms of the Duke of Rothesay as shown on "His Royal Highness's Scottish Banner". Text from official web-site of the Prince of Wales[1]:

"The Prince of Wales had the idea of incorporating his Scottish titles - Duke of Rothesay, Lord of the Isles and Great Steward of Scotland - into a banner. It was designed in 1974 by Sir Iain Moncrieffe in his capacity as Albany Herald and approved by The Queen later that year. The standard, exclusively for use when The Prince is in Scotland, was first flown on 21st July 1976, when he visited Loch Kishorn, Wester Ross, to launch the Ninian Central oil platform production dock, the site of which was part of the ancient lordship of the Isles. The standard is also known as His Royal Highness's Scottish Banner. The first and fourth quarterings of the banner - blue and white chequered band across a gold background - represent the Great Steward of Scotland. The second and third quarterings - a black galley with red flags on a white background - represent the Lord of the Isles. Superimposed in the centre is a small gold shield with the red Lion Rampant within a red Royal Tressure on it, charged with a blue label of 3 points. This represents the Dukedom of Rothesay"