How much extra course-choosing freedom is there for Honors?

I heard that honors students have a greater freedom in the courses that they choose. Is this true and what does this look like (ability to get into oversubscribed courses? ability to take courses without some prequisites? more choices?)

In addition, can an honor student take any honor course, for example, can a Plan 2 student who is also majoring in Business but not in BHP take a BHP course & vice versa?