Modern Vespa

I just checked the oil on my new 2007 vespa lx 125 and found that the oil extends as far above the cross hatching as is long the cross hatching itself.
I have checked it multiple times and read the manual twice and am now concerned with the prospect of removing some oil
i have some squirter thingys and will go ahead and pull oil up from the top but my main questions really are:

How much can an lx tank hold if it were filled to the brim?

Why hasnt my oil light lit up in this case?

Thanks.

The previous owner must have checked the level without screwing the cap all the way in. Suck some out.

It isn't a 'tank' - it's the sump of the engine. Overfilling could damage the engine.

The oil light only comes on for very (read dangerously) low oil pressure. It isn't directly a measure of how much oil is in the sump.

Thanks for your reply.
I'm slightly worried because I've put almost 1000km on the clock since I bought it. How much likelihood of engine damage at this point? Cheers

I would certainly take a look at your air filter. It might be quite oily due to oil blow-by from the engine. Clean or replace it as necessary.

Hopefully your oil doesn't smell of gasoline....that can happen making the sump look over full.

For peace of mind, stop riding the thing until you have done a full service. Clean your air filter, put in a new plug, change the gear oil and change your engine oil & filter. Use the correct type/weight for crankcase and gear box. Measure it out to the drop before refilling.
Do these have a CVT filter? The big Vespas do. If it was mine, I'd check the valves. Establish a baseline moving forward. Unless you have recent maintenance records you can only guess.