Updated 18/10/2024
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Article 2 - Definitions

Article 2

Definitions

For the purposes of this Regulation, the following definitions shall apply:

(1)

deferral period’ means a period of up to six months;

(2)

function’ means a structured set of activities, services or operations that are delivered by the institution or group to third parties irrespective from the internal organisation of the institution;

(3)

business line’ means as a structured set of activities, processes or operations that are developed by the institution or group for third parties to achieve the organisation's goals.