Syntactic clarification of 12-8-1 wording

[gs]

Rule 12-8-1 states:

A copy constructor shall only initialize its base classes and the non-static members of the class of which it is a member.

Does this sentence mean:

A copy constructor may only initialize and, when doing so, may only initialize its base classes and the non-static members of the class of which it is a member.

or

A copy constructor may do things other than initialization but, if it does initialize, it may only initialize its base classes and the non-static members of the class of which it is a member.

?

[misra cpp]

The first alternative is intended