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UCITS management company 2 definitions

MiCA
a management company as defined in Article 2(1), point (b), of Directive 2009/65/EC of the European Parliament and of the Council (33)
MiFID II
a management company as defined in point (b) of Article 2(1) of Directive 2009/65/EC of the European Parliament and of the Council (43)

ultimate parent company

CSDDD
a parent company that controls, either directly or indirectly in accordance with the criteria set out in Article 22(1) to (5) of Directive 2013/34/EU, one or more subsidiaries and is not controlled by another company

UN financial sanctions

Anti-Money Laundering Regulation (AMLR)
both asset freezing and prohibitions to make funds or other assets available, directly or indirectly, for the benefit of designated or listed persons and entities pursuant to:

UN financial sanctions relating to proliferation financing

Anti-Money Laundering Regulation (AMLR)
both asset freezing and prohibitions to make funds or other assets available, directly or indirectly, for the benefit of designated or listed persons and entities pursuant to:

unaccompanied minor

Dublin III Regulation
a minor who arrives on the territory of the Member States unaccompanied by an adult responsible for him or her, whether by law or by the practice of the Member State concerned, and for as long as he or she is not effectively taken into the care of such an adult; it includes a minor who is left unaccompanied after he or she has entered the territory of Member States

unavailable deposit

Deposit Guarantee Schemes Directive
a deposit that is due and payable but that has not been paid by a credit institution under the legal or contractual conditions applicable thereto, where either:

unavoidable and extraordinary circumstances

Package Travel Directive
a situation beyond the control of the party who invokes such a situation and the consequences of which could not have been avoided even if all reasonable measures had been taken

underground coal mine

Methane Regulation
a coal mine where coal is produced by tunnelling into the earth to the coalbed, where the coal is then mined with underground coal mining equipment such as cutting machines and continuous, longwall and shortwall mining machines and transported to the surface

underground storage

Landfill Directive
a permanent waste storage facility in a deep geological cavity such as a salt or potassium mine

underlying CIU

CRR
a CIU in the shares or units of which another CIU has invested.

undertaking 4 definitions

Digital Markets Act
an entity engaged in an economic activity, regardless of its legal status and the way in which it is financed, including all linked enterprises or connected undertakings that form a group through the direct or indirect control of an enterprise or undertaking by another
F-gas Regulation
any natural or legal person which carries out an activity referred to in this Regulation
Late Payment Directive
any organisation, other than a public authority, acting in the course of its independent economic or professional activity, even where that activity is carried out by a single person
Methane Regulation
a natural or legal person who carries out at least one of the following activities: oil or fossil gas exploration and production, fossil gas gathering and processing, or gas transmission, distribution and underground storage, including with regard to LNG

undertaking active in the extractive industry

Accounting Directive
an undertaking with any activity involving the exploration, prospection, discovery, development, and extraction of minerals, oil, natural gas deposits or other materials, within the economic activities listed in Section B, Divisions 05 to 08 of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 (19)

undertaking active in the logging of primary forests

Accounting Directive
an undertaking with activities as referred to in Section A, Division 02, Group 02.2 of Annex I to Regulation (EC) No 1893/2006, in primary forests

underwriting risk

Solvency II Directive
the risk of loss or of adverse change in the value of insurance liabilities, due to inadequate pricing and provisioning assumptions

undesirable effect

Cosmetics Regulation
an adverse reaction for human health attributable to the normal or reasonably foreseeable use of a cosmetic product

undue influence

Unfair Commercial Practices Directive
exploiting a position of power in relation to the consumer so as to apply pressure, even without using or threatening to use physical force, in a way which significantly limits the consumer's ability to make an informed decision

Unexpected serious adverse reaction

Clinical Trials Regulation
a serious adverse reaction, the nature, severity or outcome of which is not consistent with the reference safety information

unfunded credit protection

CRR
a technique of credit risk mitigation where the reduction of the credit risk on the exposure of an institution derives from the obligation of a third party to pay an amount in the event of the default of the borrower or the occurrence of other specified credit events

Union bodies

Data Act
the Union bodies, offices and agencies set up by or pursuant to acts adopted on the basis of the Treaty on European Union, the TFEU or the Treaty establishing the European Atomic Energy Community

Union branch

BRRD
a branch located in a Member State of a third-country institution

Union extraction capacity

Critical Raw Materials Act
an aggregate of the maximum annual production volumes of extractive operations for ores, minerals, plant products and concentrates containing strategic raw materials, including processing operations that are typically located at or near the extraction site, located in the Union

Union harmonisation legislation 4 definitions

Batteries Regulation
any Union legislation harmonising the conditions for the marketing of products
Cyber Resilience Act
Union legislation listed in Annex I to Regulation (EU) 2019/1020 and any other Union legislation harmonising the conditions for the marketing of products to which that Regulation applies
General Product Safety Regulation
Union legislation listed in Annex I to Regulation (EU) 2019/1020 and any other Union legislation harmonising the conditions for the marketing of products to which that Regulation applies
Machinery Regulation
any Union legislation harmonising the conditions for the marketing of products

Union institutions and bodies

EU Institutions Data Protection Regulation
the Union institutions, bodies, offices and agencies set up by, or on the basis of, the TEU, the TFEU or the Euratom Treaty

Union parent financial holding company 2 definitions

BRRD
an EU parent financial holding company as defined in point (31) of Article 4(1) of Regulation (EU) No 575/2013
SRM Regulation
an EU parent financial holding company as defined in point (31) of Article 4(1) of Regulation (EU) No 575/2013

Union parent institution 2 definitions

BRRD
an EU parent institution as defined in point (29) of Article 4(1) of Regulation (EU) No 575/2013
SRM Regulation
an EU parent institution as defined in point (29) of Article 4(1) of Regulation (EU) No 575/2013

Union parent investment firm 2 definitions

Investment Firms Directive
a Union parent investment firm as defined in point (56) of Article 4(1) of Regulation (EU) 2019/2033
Investment Firms Regulation
an investment firm in a Member State which is part of an investment firm group and which has an investment firm or a financial institution as a subsidiary or which holds a participation in such an investment firm or financial institution, and which is not itself a subsidiary of another investment firm authorised in any Member State, or of an investment holding company or mixed financial holding company set up in any Member State

Union parent investment holding company 2 definitions

Investment Firms Directive
a Union parent investment holding company as defined in point (57) of Article 4(1) of Regulation (EU) 2019/2033
Investment Firms Regulation
an investment holding company in a Member State which is part of an investment firm group and which is not itself a subsidiary of an investment firm authorised in any Member State or of another investment holding company in any Member State

Union parent mixed financial holding company 3 definitions

BRRD
an EU parent mixed financial holding company as defined in point (33) of Article 4(1) of Regulation (EU) No 575/2013
Investment Firms Directive
a Union parent mixed financial holding company as defined in point (58) of Article 4(1) of Regulation (EU) 2019/2033. 2. The Commission is empowered to adopt delegated acts in accordance with Article 58 to supplement this Directive by clarifying the definitions set out in paragraph 1 in order to:
Investment Firms Regulation
a parent undertaking of an investment firm group which is a mixed financial holding company as defined in point (15) of Article 2 of Directive 2002/87/EC. 2. The Commission is empowered to adopt delegated acts in accordance with Article 56 to supplement this Regulation by clarifying the definitions set out in paragraph 1 to:

Union parent undertaking

BRRD
a Union parent institution, a Union parent financial holding company or a Union parent mixed financial holding company

Union processing capacity

Critical Raw Materials Act
an aggregate of the maximum annual production volumes of processing operations for strategic raw materials, excluding such operations that are typically located at or near the extraction site, located in the Union

Union recycling capacity

Critical Raw Materials Act
an aggregate of the maximum annual production volume of recycling operations for strategic raw materials after re-processing, including the sorting and pre-treatment of waste, and its processing into secondary raw materials, located in the Union

Union State aid framework

BRRD
the framework established by Articles 107, 108 and 109 TFEU and regulations and all Union acts, including guidelines, communications and notices, made or adopted pursuant to Article 108(4) or Article 109 TFEU

Union subsidiary

BRRD
an institution which is established in a Member State and which is a subsidiary of a third-country institution or a third-country parent undertaking

Union-wide roaming

Roaming Regulation (recast)
the use of a mobile device by a roaming customer to make or receive intra-Union calls, to send or receive intra-Union SMS messages, or to use packet switched data communications, while in a Member State other than that in which the network of the domestic provider is located, by means of arrangements between the home network operator and the visited network operator

unique facility identifier

Ecodesign for Sustainable Products Regulation
a unique string of characters for the identification of locations or buildings involved in a product’s value chain or used by actors involved in a product’s value chain

unique identifier 2 definitions

Batteries Regulation
a unique string of characters for the identification of batteries that also enables a web link to the battery passport
PSD2
a combination of letters, numbers or symbols specified to the payment service user by the payment service provider and to be provided by the payment service user to identify unambiguously another payment service user and/or the payment account of that other payment service user for a payment transaction

unique operator identifier

Ecodesign for Sustainable Products Regulation
a unique string of characters for the identification of an actor involved in a product’s value chain

unique product identifier 2 definitions

Critical Raw Materials Act
a unique string of characters for the identification of products
Ecodesign for Sustainable Products Regulation
a unique string of characters for the identification of a product that also enables a web link to the digital product passport

unique transaction identifier

Wire Transfer Regulation (recast)
a combination of letters, numbers or symbols determined by the payment service provider, in accordance with the protocols of the payment and settlement systems or messaging systems used for the transfer of funds, which permits the traceability of the transaction back to the payer and the payee

units in collective investment undertakings

CSDR
units in collective investment undertakings as referred to in point (3) of Section C of Annex I to Directive 2014/65/EU

units of a collective investment undertaking 2 definitions

Prospectus Regulation
securities issued by a collective investment undertaking as representing the rights of the participants in such an undertaking over its assets
Transparency Directive
securities issued by a collective investment undertaking and representing rights of the participants in such an undertaking over its assets

universal service

Framework Directive (electronic communications)
the minimum set of services, defined in Directive 2002/22/EC (Universal Service Directive), of specified quality which is available to all users regardless of their geographical location and, in the light of specific national conditions, at an affordable price

unprocessed products

Organic Farming Regulation
unprocessed products as defined in point (n) of Article 2(1) of Regulation (EC) No 852/2004 of the European Parliament and of the Council (48), irrespective of packaging or labelling operations

unrated position

CRR
a securitisation position which does not have an eligible credit assessment by an ECAI as referred to in Section 4

unregulated financial entity

CRR
any other entity that is not a regulated financial sector entity but performs, as its main business, one or more of the activities listed in Annex I to Directive 2013/36/EU or listed in Annex I to Directive 2004/39/EC

unregulated profession

Blue Card Directive (recast)
a profession that is not a regulated profession

unsold consumer product

Ecodesign for Sustainable Products Regulation
any consumer product that has not been sold including surplus stock, excess inventory and deadstock and products returned by a consumer on the basis of their right of withdrawal in accordance with Article 9 of Directive 2011/83/EU or, where applicable, during any longer withdrawal period provided by the trader

upgrading

Ecodesign for Sustainable Products Regulation
actions carried out to enhance the functionality, performance, capacity, safety or aesthetics of a product

upstream pipeline network

Gas Directive
any pipeline or network of pipelines operated and/or constructed as part of an oil or gas production project, or used to convey natural gas from one or more such projects to a processing plant or terminal or final coastal landing terminal

urban and suburban rail passenger service

Rail Passengers' Rights Regulation (recast)
a rail passenger service within the meaning of point (6) of Article 3 of Directive 2012/34/EU

urban and suburban services

Single European Railway Area Directive
transport services whose principal purpose is to meet the transport needs of an urban centre or conurbation, including a cross-border conurbation, together with transport needs between such a centre or conurbation and surrounding areas

urban and suburban transport services

European Accessibility Act
urban and suburban services as defined in point 6 of Article 3 of Directive 2012/34/EU of the European Parliament and of the Council (34); but for the purposes of this Directive, it includes only the following modes of transport: rail, bus and coach, metro, tram and trolley bus

urban green space

Nature Restoration Law
the total area of trees, bushes, shrubs, permanent herbaceous vegetation, lichens and mosses, ponds and watercourses found within cities or towns and suburbs, calculated on the basis of data provided by the Copernicus Land Monitoring Service under the Copernicus component of the Union Space Programme, established by Regulation (EU) 2021/696, and, if available for the Member State concerned, other appropriate supplementary data provided by that Member State

urban tree canopy cover

Nature Restoration Law
the total area of tree cover within cities and towns and suburbs, calculated on the basis of the Tree Cover Density data provided by the Copernicus Land Monitoring Service under the Copernicus component of the Union Space Programme, established by Regulation (EU) 2021/696, and, if available for the Member State concerned, other appropriate supplementary data provided by that Member State

usable area

Organic Farming Regulation
usable area as defined in point (d) of Article 2(2) of Council Directive 1999/74/EC (35)

use

F-gas Regulation
in relation to fluorinated greenhouse gases, their utilisation in the production, maintenance or servicing, including refilling, of products and equipment, or in other activities and processes referred to in this Regulation

useful heat

Energy Efficiency Directive
heat produced in a cogeneration process to satisfy economically justifiable demand for heating or cooling

user 7 definitions

Data Act
a natural or legal person that owns a connected product or to whom temporary rights to use that connected product have been contractually transferred, or that receives related services
EU Institutions Data Protection Regulation
any natural person using a network or terminal equipment operated under the control of a Union institution or body
European Electronic Communications Code
a natural or legal person using or requesting a publicly available electronic communications service
Framework Directive (electronic communications)
a legal entity or natural person using or requesting a publicly available electronic communications service
In Vitro Diagnostic Medical Devices Regulation
any healthcare professional or lay person who uses a device
Medical Devices Regulation
any healthcare professional or lay person who uses a device
ePrivacy Directive
any natural person using a publicly available electronic communications service, for private or business purposes, without necessarily having subscribed to this service

users of semiconductors

Chips Act
undertakings that produce products in which semiconductors are incorporated

utility token

MiCA
a type of crypto-asset that is only intended to provide access to a good or a service supplied by its issuer

UV-filters

Cosmetics Regulation
substances which are exclusively or mainly intended to protect the skin against certain UV radiation by absorbing, reflecting or scattering UV radiation