We study the properties of time evolution of the K0--\bar {K}0 system in spectral formulation. Within the one-pole model we find the exact form of the diagonal matrix elements of the effective Hamiltonian for this system. It appears that, contrary to the Lee--Oehme--Yang (LOY) result, these exact diagonal matrix elements are different if the total system is CPT-invariant but CP-noninvariant.
PACS numbers: 03.65.Ca, 11.30.Er, 11.10.St, 14.40.Aq
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