Article 4 Description and conditions under which ICT services supporting a critical or important function may be subcontracted

that the ICT third-party service provider means an undertaking providing ICT services; is responsible for the provision of the services provided by the subcontractors;

that the ICT third-party service provider means an undertaking providing ICT services; is required to monitor all subcontracted 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 a critical or important function 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 to ensure that its contractual obligations with the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; are continuously met;

the monitoring and reporting obligations of the ICT third-party service provider means an undertaking providing ICT services; towards the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; regarding subcontractors of ICT third-party service providers means an undertaking providing ICT services; providing 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 part thereof;

that the ICT third-party service provider means an undertaking providing ICT services; shall assess all risks means the potential for loss or disruption caused by an incident and is to be expressed as a combination of the magnitude of such loss or disruption and the likelihood of occurrence of the incident; associated with the location of the current or potential subcontractors providing ICT service means an ICT service as defined in Article 2, point (13), of Regulation (EU) 2019/881; supporting a critical or important function 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 part thereof, and its parent company and the location where the ICT service means an ICT service as defined in Article 2, point (13), of Regulation (EU) 2019/881; is provided from;

the location of data processed or stored by the subcontractor, where relevant;

that the ICT third-party service provider means an undertaking providing ICT services; is required to specify in its written contractual agreement with the subcontractor providing 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 function 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 part thereof the monitoring and reporting obligations of the subcontractor towards the ICT third-party service provider means an undertaking providing ICT services;, and where agreed, towards the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations;;

that the ICT third-party service provider means an undertaking providing ICT services; is required to ensure the continuity of the 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; throughout the chain of subcontractors in case of failure by an ICT subcontractor to meet its contractual obligations, and that the written contractual agreement with the subcontractor providing the 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 includes the requirements on business contingency plans as set out under Article 30(3)(c) of Regulation (EU) 2022/2554 and defines the service levels to be met by the ICT subcontractors in relation to these plans;

that the ICT third-party service provider means an undertaking providing ICT services; is required to specify in its written contractual agreement with the subcontractor providing 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 the ICT security standards means a standard as defined in Article 2, point (1), of Regulation (EU) No 1025/2012 of the European Parliament and of the Council (^29^); Regulation (EU) No 1025/2012 of the European Parliament and of the Council of 25 October 2012 on European standardisation, amending Council Directives 89/686/EEC and 93/15/EEC and Directives 94/9/EC, 94/25/EC, 95/16/EC, 97/23/EC, 98/34/EC, 2004/22/EC, 2007/23/EC, 2009/23/EC and 2009/105/EC of the European Parliament and of the Council and repealing Council decision 87/95/EEC and Decision No 1673/2006/EC of the European Parliament and of the Council (OJ L 316, 14.11.2012, p. 12). and any additional security requirements, where relevant, that shall be met by the subcontractors in line with Article 30(3)(c) of Regulation (EU) 2022/2554;

that the subcontractor is required to grant to the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; and relevant competent and resolution authorities the same rights of access, inspection and audit as referred to in Article 30(3)(e) of Regulation (EU) 2022/2554 as granted to the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; and relevant competent and resolution authorities by the ICT third-party service provider means an undertaking providing ICT services;;

that the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; will be notified of material changes to subcontracting arrangements in accordance with article 6;

that the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; has termination rights in accordance with article 7 or in accordance with the circumstances set out under Article 28(7) of Regulation (EU) 2022/2554.