Everything correct so far, even my buddies translation 🙂-:
The stump has to move through two gates on this one and when locking it you also have to turn the key two times in order to fully lock it.
The company that manufactured these padlocks was called (and still is by the way) “Trelock”. The three padlocks are symbolising the companies name, at least they did in the past. Trelock later on also manufactured padlocks for other companies, such as Winkhaus. I have some small Trelock padlocks here that have a Winkhaus paper on them.
Adrian