Article 2 Group application

Where this Regulation applies on a sub-consolidated or consolidated basis, the parent undertaking means a parent undertaking within the meaning of Article 2, point (9), and Article 22 of Directive 2013/34/EU; that is responsible for providing the consolidated or sub-consolidated financial statements for the group means a group as defined in Article 2, point (11), of Directive 2013/34/EU; shall ensure that the conditions for subcontracting the use of ICT services means digital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services; supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; or material parts thereof, where permitted as referred to in Article 30(2) (a) of Regulation (EU) 2022/2554, are implemented consistently in all financial entitiesas defined in Article 2, points (a) to (t) that are part of the group means a group as defined in Article 2, point (11), of Directive 2013/34/EU; and are adequate for the effective application of this Regulation at all relevant levels.