It is a mutual defense pact that was invented by France in 1928 at the Paris conference and was then joined by the UK in the May of 1928. after it had ratified the treaty.

The member nations.
Nation. Year of joining. Year of leaving.
France 1928 -
UK 1928.  -
Portugal  1939. -
Belgian  1940 -
Greece 1941 -
Yugoslavia   1946 -
Netheralnds " -
Greece 1956.  -
Israel    1965.  -
Czech Republic 1965  -
Malta 1975

It became part of NATO in 1969.

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