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label 5 definitions

Food Information to Consumers Regulation
any tag, brand, mark, pictorial or other descriptive matter, written, printed, stencilled, marked, embossed or impressed on, or attached to the packaging or container of food
In Vitro Diagnostic Medical Devices Regulation
the written, printed or graphic information appearing either on the device itself, or on the packaging of each unit or on the packaging of multiple devices
Medical Devices Regulation
the written, printed or graphic information appearing either on the device itself, or on the packaging of each unit or on the packaging of multiple devices
Public Procurement Directive
any document, certificate or attestation confirming that the works, products, services, processes or procedures in question meet certain requirements
Utilities Procurement Directive
any document, certificate or attestation confirming that the works, products, services, processes or procedures in question meet certain requirements

label requirements 2 definitions

Public Procurement Directive
the requirements to be met by the works, products, services, processes or procedures in question in order to obtain the label concerned. 2. For the purpose of this Article ‘regional authorities’ includes authorities listed non-exhaustively in NUTS 1 and 2, as referred to in Regulation (EC) No 1059/2003 of the European Parliament and of the Council (22), while ‘local authorities’ includes all authorities of the administrative units falling under NUTS 3 and smaller administrative units, as referred to in Regulation (EC) No 1059/2003.
Utilities Procurement Directive
the requirements to be met by the works, products, services, processes or procedures in question in order to obtain the label concerned.

labelling 4 definitions

CMO Regulation
any words, particulars, trade marks, brand name, pictorial matter or symbol placed on any packaging, document, notice, label, ring or collar accompanying or referring to a given product
Food Information to Consumers Regulation
any words, particulars, trade marks, brand name, pictorial matter or symbol relating to a food and placed on any packaging, document, notice, label, ring or collar accompanying or referring to such food
Organic Farming Regulation
any words, particulars, trade marks, brand name, pictorial matter or symbol relating to a product that are placed on any packaging, document, notice, label, ring or collar that accompanies or refers to that product
PDO/PGI Quality Schemes Regulation
any words, particulars, trade marks, brand name, pictorial matter or symbol relating to a foodstuff and placed on any packaging, document, notice, label, ring or collar accompanying or referring to such foodstuff

labour inspectorate

Pay Transparency Directive
the body or bodies responsible, in accordance with national law and/or practice, for control and inspection functions in the labour market, save that, where provided for in national law, the social partners may carry out those functions

lack of conformity

Package Travel Directive
a failure to perform or improper performance of the travel services included in a package

laminated board

F-gas Regulation
a foam board that is covered by a thin layer of a non-rigid material, such as plastic.

landfill

Landfill Directive
a waste disposal site for the deposit of the waste onto or into land (i.e. underground), including: - internal waste disposal sites (i.e. landfill where a producer of waste is carrying out its own waste disposal at the place of production), and - a permanent site (i.e. more than one year) which is used for temporary storage of waste, but excluding: - facilities where waste is unloaded in order to permit its preparation for further transport for recovery, treatment or dispsal elsewhere, and - stoarage of waste prior to recovery or treatment for a period less than three years as a general rule, or - storage of waste prior to disposal for a period less than one year

landfill gas

Landfill Directive
all the gases generated from the landfilled waste

large company

Critical Raw Materials Act
a company with more than 500 employees on average and a net worldwide turnover of more than EUR 150 million in the most recent financial year for which annual financial statements have been prepared

large financial sector entity

CRR
any financial sector entity, other than those referred to in point (27)(j) of Article 4(1), which meets the following conditions:

large risks

Insurance Distribution Directive
large risks as defined in Article 13 point 27 of Directive 2009/138/EC

large-scale cybersecurity incident

NIS2 Directive
an incident which causes a level of disruption that exceeds a Member State’s capacity to respond to it or which has a significant impact on at least two Member States

late payment

Late Payment Directive
payment not made within the contractual or statutory period of payment and where the conditions laid down in Article 3(1) or Article 4(1) are satisfied

law enforcement

AI Act
activities carried out by law enforcement authorities or on their behalf for the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, including safeguarding against and preventing threats to public security

lay person 2 definitions

In Vitro Diagnostic Medical Devices Regulation
an individual who does not have formal education in a relevant field of healthcare or medical discipline
Medical Devices Regulation
an individual who does not have formal education in a relevant field of healthcare or medical discipline

laying hens

Organic Farming Regulation
animals of the Gallus gallus species that are intended for the production of eggs for consumption and that are of an age of at least 18 weeks

leachate

Landfill Directive
any liquid percolating through the deposited waste and emitted from or contained within a landfill

Lead Overseer

DORA
the European Supervisory Authority appointed in accordance with Article 31(1), point (b) of this Regulation

lead rating analyst

Credit Rating Agencies Regulation
a person with primary responsibility for elaborating a credit rating or for communicating with the issuer with respect to a particular credit rating or, generally, with respect to the credit rating of a financial instrument issued by that issuer and, where relevant, for preparing recommendations to the rating committee in relation to such rating

leakage detection system

F-gas Regulation
a calibrated mechanical, electrical or electronic device for detecting leakage of fluorinated greenhouse gases which, on detection, alerts the operator

legacy ICT system

DORA
an ICT system that has reached the end of its lifecycle (end-of-life), that is not suitable for upgrades or fixes, for technological or commercial reasons, or is no longer supported by its supplier or by an ICT third-party service provider, but that is still in use and supports the functions of the financial entity

legal arrangement

Anti-Money Laundering Regulation (AMLR)
an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso

Legal Entity Identifier

Anti-Money Laundering Regulation (AMLR)
a unique alphanumeric reference code based on the ISO 17442 standard assigned to a legal entity

legal name

Food Information to Consumers Regulation
the name of a food prescribed in the Union provisions applicable to it or, in the absence of such Union provisions, the name provided for in the laws, regulations and administrative provisions applicable in the Member State in which the food is sold to the final consumer or to mass caterers

legal representative 2 definitions

AIFMD
a natural person domiciled in the Union or a legal person with its registered office in the Union, and which, expressly designated by a non-EU AIFM, acts on behalf of such non-EU AIFM vis-à-vis the authorities, clients, bodies and counterparties to the non-EU AIFM in the Union with regard to the non-EU AIFM’s obligations under this Directive
Data Governance Act
a natural or legal person established in the Union explicitly designated to act on behalf of a data intermediation services provider or an entity that collects data for objectives of general interest made available by natural or legal persons on the basis of data altruism not established in the Union, which may be addressed by the competent authorities for data intermediation services and the competent authorities for the registration of data altruism organisations in addition to or instead of the data intermediation services provider or entity with regard to the obligations under this Regulation, including with regard to initiating enforcement proceedings against a non-compliant data intermediation services provider or entity not established in the Union.

Legally designated representative

Clinical Trials Regulation
a natural or legal person, authority or body which, according to the law of the Member State concerned, is empowered to give informed consent on behalf of a subject who is an incapacitated subject or a minor

legibility

Food Information to Consumers Regulation
the physical appearance of information, by means of which the information is visually accessible to the general population and which is determined by various elements, inter alia, font size, letter spacing, spacing between lines, stroke width, type colour, typeface, width-height ratio of the letters, the surface of the material and significant contrast between the print and the background

lending institution

CRR
the institution which has the exposure in question

less developed regions

CMO Regulation
those regions defined as such in point (a) of the first subparagraph of Article 90(2) of Regulation (EU) No 1303/2013 of the European Parliament and of the Council (22).

leverage 3 definitions

AIFMD
any method by which the AIFM increases the exposure of an AIF it manages whether through borrowing of cash or securities, or leverage embedded in derivative positions or by any other means
CRD IV
leverage as defined in point (93) of Article 4(1) of Regulation (EU) No 575/2013
CRR
the relative size of an institution's assets, off-balance sheet obligations and contingent obligations to pay or to deliver or to provide collateral, including obligations from received funding, made commitments, derivates or repurchase agreements, but excluding obligations which can only be enforced during the liquidation of an institution, compared to that institution's own funds

licence

Single European Railway Area Directive
an authorisation issued by a licensing authority to an undertaking, by which its capacity to provide rail transport services as a railway undertaking is recognised; that capacity may be limited to the provision of specific types of services

licensing authority

Single European Railway Area Directive
the body responsible for granting licences within a Member State

life cycle 3 definitions

Ecodesign for Sustainable Products Regulation
the consecutive and interlinked stages of a product’s life, consisting of raw material acquisition or generation from natural resources, pre-processing, manufacturing, storage, distribution, installation, use, maintenance, repair, upgrading, refurbishment and reuse, and end-of-life
Public Procurement Directive
all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation
Utilities Procurement Directive
all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation

lifetime

Machinery Regulation
the period from the moment that machinery or a related product is placed on the market or put into service until the moment that it is discarded, including the effective time when the machinery or related product is capable of being used and the phases of transport, assembly, dismantling, disabling, scrapping or other physical or digital modifications foreseen by the manufacturer

lifetime of a battery

Batteries Regulation
the period that starts when the battery is manufactured and ends when the battery becomes waste

lifting accessory

Machinery Regulation
a component or equipment, not attached to the lifting machinery, which enables the load to be held, which is placed between the machinery and the load or on the load itself, or which is intended to constitute an integral part of the load and which is independently placed on the market, including slings and their components

light means of transport

Critical Raw Materials Act
any light wheeled vehicle that can be powered by the electric motor alone or by a combination of motor and human power, including electric scooters, electric bicycles and type-approved vehicles of category L as set out in Article 4 of Regulation (EU) No 168/2013

ligno-cellulosic material 2 definitions

Energy Union Governance Regulation
ligno-cellulosic material as defined in point (41) of Article 2 of Directive (EU) 2018/2001
Renewable Energy Directive (recast)
material composed of lignin, cellulose and hemicellulose, such as biomass sourced from forests, woody energy crops and forest-based industries' residues and wastes

likelihood ratio

In Vitro Diagnostic Medical Devices Regulation
the likelihood of a given result arising in an individual with the target clinical condition or physiological state compared to the likelihood of the same result arising in an individual without that clinical condition or physiological state

limit order

MiFID II
an order to buy or sell a financial instrument at its specified price limit or better and for a specified size

linepack

Gas Directive
the storage of gas by compression in gas transmission and distribution systems, but not including facilities reserved for transmission system operators carrying out their functions

linked credit agreement

Consumer Credit Directive
a credit agreement where

linked transactions

Anti-Money Laundering Regulation (AMLR)
two or more transactions with either identical or similar origin, destination and purpose, or other relevant characteristics, over a specific period

linked travel arrangement

Package Travel Directive
at least two different types of travel services purchased for the purpose of the same trip or holiday, not constituting a package, resulting in the conclusion of separate contracts with the individual travel service providers, if a trader facilitates:

liquid market

MiFID II
a market for a financial instrument or a class of financial instruments, where there are ready and willing buyers and sellers on a continuous basis, assessed in accordance with the following criteria, taking into consideration the specific market structures of the particular financial instrument or of the particular class of financial instruments:

liquid waste

Landfill Directive
any waste in liquid form including waste waters but excluding sludge

liquidator

Solvency II Directive
a person or body appointed by the competent authorities or by the governing bodies of an insurance undertaking for the purpose of administering winding-up proceedings

liquidity facility 2 definitions

CRR
the securitisation position arising from a contractual agreement to provide funding to ensure timeliness of cash flows to investors
Securitisation Regulation
the securitisation position arising from a contractual agreement to provide funding to ensure timeliness of cash flows to investors

liquidity fragmentation

MiFIR
a situation in which:

liquidity risk

Solvency II Directive
the risk that insurance and reinsurance undertakings are unable to realise investments and other assets in order to settle their financial obligations when they fall due

livestock production

Organic Farming Regulation
the production of domestic or domesticated terrestrial animals, including insects

LNG facility 2 definitions

Gas Directive
a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage
Methane Regulation
an LNG facility as defined in Article 2, point (33), of Directive (EU) 2024/1788

LNG system operator

Gas Directive
a natural or legal person who carries out the function of liquefaction of natural gas, or the importation, offloading, and re-gasification of LNG and is responsible for operating a LNG facility

loan

Crowdfunding Regulation
an agreement whereby an investor makes available to a project owner an agreed amount of money for an agreed period of time and whereby the project owner assumes an unconditional obligation to repay that amount to the investor, together with the accrued interest, in accordance with the instalment payment schedule

local creditor

Insolvency Regulation (recast)
a creditor whose claims against a debtor arose from or in connection with the operation of an establishment situated in a Member State other than the Member State in which the centre of the debtor's main interests is located

local firm 2 definitions

CRD IV
local firm as defined in point (4) of Article 4(1) of Regulation (EU) No 575/2013
CRR
a firm dealing for its own account on markets in financial futures or options or other derivatives and on cash markets for the sole purpose of hedging positions on derivatives markets, or dealing for the accounts of other members of those markets and being guaranteed by clearing members of the same markets, where responsibility for ensuring the performance of contracts entered into by such a firm is assumed by clearing members of the same markets

local loop 2 definitions

Access Directive
the physical circuit connecting the network termination point at the subscriber's premises to the main distribution frame or equivalent facility in the fixed public telephone network.
European Electronic Communications Code
the physical path used by electronic communications signals connecting the network termination point to a distribution frame or equivalent facility in the fixed public electronic communications network

locally grown species

Organic Farming Regulation
aquaculture species which are neither alien nor locally absent species within the meaning of points (6) and (7), respectively, of Article 3 of Council Regulation (EC) No 708/2007 (38), as well as the species listed in Annex IV to that Regulation

located

Benchmarks Regulation
in relation to a legal person, the country where that person's registered office or other official address is situated and, in relation to a natural person, the country where that person is resident for tax purposes

location data

ePrivacy Directive
any data processed in an electronic communications network, indicating the geographic position of the terminal equipment of a user of a publicly available electronic communications service

logical connection

Cyber Resilience Act
a virtual representation of a data connection implemented through a software interface

long settlement transactions 2 definitions

CRR
transactions where a counterparty undertakes to deliver a security, a commodity, or a foreign exchange amount against cash, other financial instruments, or commodities, or vice versa, at a settlement or delivery date specified by contract that is later than the market standard for this particular type of transaction or five business days after the date on which the institution enters into the transaction, whichever is earlier
Investment Firms Regulation
long settlement transactions as defined in point (2) of Article 272 of Regulation (EU) No 575/2013

long-distance rail passenger service

Rail Passengers' Rights Regulation (recast)
a rail passenger service which is not an urban, a suburban or a regional rail passenger service

long-term planning

Gas Directive
the planning of supply and transport capacity of natural gas undertakings on a long-term basis with a view to meeting the demand for natural gas of the system, diversification of sources and securing supplies to customers

loss

CRR
economic loss, including material discount effects, and material direct and indirect costs associated with collecting on the instrument

low indirect land-use change-risk biofuels, bioliquids and biomass fuels

Renewable Energy Directive (recast)
biofuels, bioliquids and biomass fuels, the feedstock of which was produced within schemes which avoid displacement effects of food and feed-crop based biofuels, bioliquids and biomass fuels through improved agricultural practices as well as through the cultivation of crops on areas which were previously not used for cultivation of crops, and which were produced in accordance with the sustainability criteria for biofuels, bioliquids and biomass fuels laid down in Article 29

Low-intervention clinical trial

Clinical Trials Regulation
a clinical trial which fulfils all of the following conditions:

low-risk assets

Deposit Guarantee Schemes Directive
items falling into the first or second category referred to in Table 1 of Article 336 of Regulation (EU) No 575/2013 or any assets which are considered to be similarly safe and liquid by the competent or designated authority