Art. 2 Definitions | RTS on group-wide minimum requirements and additional measures for third-country subsidiaries and branches | AML

For the purpose of this Regulation, in addition to the definitions set out in Article 2(1) of Regulation (EU) 2024/1624, Article of 2(1) of Regulation (EU) 2024/1620 and Article 2 of Directive (EU) 2024/1640, the following definitions shall apply:
1. ‘control functionmeans a function that is independent from the commercial functions it controls and that is responsible to provide an objective assessment of the obliged entity’s risks, review or report on those, including, but not limited to, the risk management function, the compliance function and the internal audit function;’ means a function that is independent from the commercial functions it controls and that is responsible to provide an objective assessment of the obliged entity’s risks, review or report on those, including, but not limited to, the risk management function, the compliance function and the internal audit function;
2. ‘structuremeans any form of organisation, agreement or similar that:includes at least two obliged entities;is not a group with a parent undertaking within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; andhas the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities.’ means any form of organisation, agreement or similar that:
  includes at least two obliged entities;
  is not a groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU; with a parent undertakingmeans:for groups whose head office is located in the Union, an obliged entity that is a parent undertaking as defined in Article 2, point (9), of Directive 2013/34/EU that is not itself a subsidiary of another undertaking in the Union, provided that at least one subsidiary undertaking is an obliged entity;for groups whose head office is located outside of the Union, where at least two subsidiary undertakings are obliged entities established in the Union, an undertaking within that group established in the Union that:is an obliged entity;is an undertaking that is not a subsidiary of another undertaking that is an obliged entity established in the Union;has a sufficient prominence within the group and a sufficient understanding of the operations of the group that are subject to the requirements of this Regulation; andis given the responsibility of implementing group-wide requirements under Chapter II, Section 2 of this Regulation; within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; and
  has the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities.
3. ‘networkmeans a structure established by two or more entities based on an agreement or a contract or similar where:at least two obliged entities carry out their activities in a framework which aims at cooperation and common profit- or cost-sharing, or has in place a common business strategy, or shares common compliance policies, procedures or controls, or uses a common brand or marketing name; andthe relationship is established in a structure under common ownership, common management or common compliance control.’ means a structuremeans any form of organisation, agreement or similar that:includes at least two obliged entities;is not a group with a parent undertaking within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; andhas the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities. established by two or more entities based on an agreement or a contract or similar where:
  at least two obliged entities carry out their activities in a framework which aims at cooperation and common profit- or cost-sharing, or has in place a common business strategy, or shares common compliance policies, procedures or controls, or uses a common brand or marketing name; and
  the relationship is established in a structuremeans any form of organisation, agreement or similar that:includes at least two obliged entities;is not a group with a parent undertaking within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; andhas the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities. under common ownership, common management or common compliance control.
4. ‘partnershipmeans an agreement, a contract or similar where:at least two obliged entities exercise an activity in common with a view to profit or cost-sharing or achieving a common purpose; andthe relationship is established in a structure under common ownership, common management or common compliance control.’ means an agreement, a contract or similar where:
  at least two obliged entities exercise an activity in common with a view to profit or cost-sharing or achieving a common purpose; and
  the relationship is established in a structuremeans any form of organisation, agreement or similar that:includes at least two obliged entities;is not a group with a parent undertaking within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; andhas the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities. under common ownership, common management or common compliance control.
5. ‘franchisemeans an agreement, a contract, a framework or any other arrangement where:at least two obliged entities establish a relationship between each other and/or with a third entity in exchange for direct or indirect financial benefits exploiting a brand, the know‑how, and/or business systems owned or managed by a franchisor for the purposes of marketing specific types of goods and/or services; andthe relationship is established in a structure under common ownership, common management or common compliance control.’ means an agreement, a contract, a framework or any other arrangement where:
  at least two obliged entities establish a relationship between each other and/or with a third entity in exchange for direct or indirect financial benefits exploiting a brand, the know‑how, and/or business systems owned or managed by a franchisor for the purposes of marketing specific types of goods and/or services; and
  the relationship is established in a structuremeans any form of organisation, agreement or similar that:includes at least two obliged entities;is not a group with a parent undertaking within the meaning of Article 2(1), point (42) of Regulation (EU) 2024/1624; andhas the objective of establishing a common framework of business, professional or commercial relationships connecting two or more obliged entities. under common ownership, common management or common compliance control.