Article
1
For the purposes of this Agreement:
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a)
``competent authority" means the governmental authority of each Contracting Party responsible for supervising the fulfilment by undertakings of the stock obligation;
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b)
``stocks" means any stocks of crude oil or petroleum products (including blending and finished products) covered by the Directive;
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c)
``stock obligation" means the overall quantity of stocks required to be held under national law;
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d)
``supply crisis" in this Agreement shall have the same meaning as in Article 6, paragraph 2, of the Directive;
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e)
``territory" means the territory situated in Europe of the Contracting Party concerned;
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f)
``undertaking" means any undertaking, body or entity established in the territory of one Contracting Party which holds stocks for the purpose of facilitating compliance (whether by that undertaking or a third party) with the law relating to oil stocking obligations of that or the other Contracting Party.