Your lock is what is called a time lock. They were invented to address a specific method of safe & vault robbery.
When safe & vault engineering advanced to the point that the use of nitroglycerin and other explosives became ineffective, the robbers took to kidnapping the bank manager after hours & forcing them to open the safe/vault.
The purpose of a time lock is to prevent the safe being opened, even with the correct combination, until a preset time has elapsed. This means even the legitimate owners of the safe cannot open it outside of the preset time, so kidnapping the bank manager was pointless as he would be unable to open the safe/vault.
There are three clock movements in the time lock you have for reliability purposes & it only takes one of the clockwork movements to be working for the time lock to function.
Here is a link to much more information about time locks : http://www.my-time-machines.net/my_time_lock_collection.htm
Jope that helps,
…mercury