This file is indexed.

/lib/udev/hwclock-set is in util-linux 2.27.1-6ubuntu3.

This file is owned by root:root, with mode 0o755.

The actual contents of the file can be viewed below.

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#!/bin/sh
# Reset the System Clock to UTC if the hardware clock from which it
# was copied by the kernel was in localtime.

dev=$1

if [ -e /run/systemd/system ] ; then
    exit 0
fi

if [ -e /run/udev/hwclock-set ]; then
    exit 0
fi

if [ -f /etc/default/rcS ] ; then
    . /etc/default/rcS
fi

# These defaults are user-overridable in /etc/default/hwclock
BADYEAR=no
HWCLOCKACCESS=yes
HWCLOCKPARS=
HCTOSYS_DEVICE=rtc0
if [ -f /etc/default/hwclock ] ; then
    . /etc/default/hwclock
fi

if [ yes = "$BADYEAR" ] ; then
    /sbin/hwclock --rtc=$dev --systz --badyear
    /sbin/hwclock --rtc=$dev --hctosys --badyear
else
    /sbin/hwclock --rtc=$dev --systz
    /sbin/hwclock --rtc=$dev --hctosys
fi

# Note 'touch' may not be available in initramfs
> /run/udev/hwclock-set