Article 1
1. The United Kingdom is hereby authorized, subject to the conditions contained in paragraph 2, on a temporary basis, to maintain the restrictions on direct investments in Member States by United Kingdom residents and the liquidation of such investments. 2. (a) £ 500 000 or 50 % of the total cost of the investment, whichever is the greater, can be obtained at the official exchange rate, where the (1)OJ No L 211, 9.8.1975, p. 29. (2)OJ No L 179, 19.7.1977, p. 30. investment cost is to be recouped by benefits to the United Kingdom's balance of payments, within the period specified in paragraph 2 (b). (b) The period referred to in paragraph 2 (a) shall not be less than three years.