Article
1
For the purposes of this Agreement:
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a)
‘‘competent authority’’ means the governmental authority in each State 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’’ in the Kingdom of the Netherlands means the overall quantity of stocks that is required to be held under national law; and in the United Kingdom of Great Britain and Northern Ireland means the overall quantity of stocks required to be held under the Directive;
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d)
‘‘supply crisis’’ in this Agreement shall have the same meaning as in Article 6 (2) of the Directive;
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e)
‘‘territory’’ means the area within the European Union over which each State exercises jurisdiction;
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f)
‘‘undertaking’’ means any undertaking, body or entity established in the territory of one State 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 State.