On the face of it, the clock is a very simple circuit. It is the same circuit board used for the Level 1 terminator and for the US type Clock and Terminator.
At its heart is a Motorola 14411 circuit with the clock speed being set at a rate of Kilohertz by moving the link position on the board. There is a 75159, a crystal, a couple of resistors and capacitors.
The Level 1 clock, so called because it was introduced when the Level 1 Econet File Server was current, has a number of limitations. Firstly, the Clock speed setting cannot be fined as much as the later clocks where the Mark and Space can be set separately. Secondly, the Clock only has one socket for connecting to the network, which limits is capacity to drive a larger network.