1. A regulation pursuant to Article 1 may provide that the prohibition contained in Article 85(1) of the Treaty shall not apply, for such period as shall be fixed by that regulation, to agreements, decisions and concerted practices already in existence on 13 March 1962 which do not satisfy the conditions of Article 85(3), where:

- within six months from the entry into force of the regulation, they are so modified as to satisfy the said conditions in accordance with the provisions of the regulation; and

- the modifications are brought to the notice of the Commission within the time limit fixed by the regulation.

A Regulation adopted pursuant to Article 1 may lay down that the prohibition referred to in Article 85(1) of the Treaty shall not apply, for the period fixed in the same Regulation, to agreements and concerted practices which existed at the date of accession and which, by virtue of accession, come within the scope of Article 85 and do not fulfil the conditions set out in Article 85(3).

The provisions of the preceding subparagraphs shall apply in the same way in the case of the accession of Austria, Finland, Norway and Sweden.