Article 36

DURING A PERIOD WHICH TERMINATES AT THE TIME OF THE ENTRY INTO FORCE OF AN AGREEMENT CONCLUDED WITH A THIRD COUNTRY PURSUANT TO ARTICLE 32, AND AT THE LATEST UPON THE EXPIRY OF A PERIOD OF FOUR YEARS AFTER THE NOTIFICATION OF THIS DIRECTIVE, EACH MEMBER STATE MAY RETAIN FOR UNDERTAKINGS OF THAT COUNTRY ESTABLISHED IN ITS TERRITORY THE RULES APPLIED TO THEM ON 1 JANUARY 1979 IN RESPECT OF MATCHING ASSETS AND THE LOCALIZATION OF TECHNICAL RESERVES, INCLUDING MATHEMATICAL RESERVES, PROVIDED THAT NOTIFICATION IS GIVEN TO THE OTHER MEMBER STATES AND THE COMMISSION AND THAT THE LIMITS OF RELAXATIONS GRANTED PURSUANT TO ARTICLE 17 (2) IN FAVOUR OF THE UNDERTAKINGS OF MEMBER STATES ESTABLISHED IN ITS TERRITORY ARE NOT EXCEEDED.