For the purposes of this Directive:

1. "investment firm" shall mean an investment firm as defined in Article 1(2) of Directive 93/22/EEC - authorized in accordance with Article 3 of Directive 93/22/EEC, or - authorized as a credit institution in accordance with Council Directive 77/780/EEC [First Council Directive 77/780/EEC of 12 December 1977 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (OJ No L 322, 17. 12. 1977, p. 30). Directive as last amended by Directive 89/646/EEC (OJ No L 386, 30. 12. 1989, p. 1).] and Council Directive 89/646/EEC [Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC (OJ No L 386, 30. 12. 1989, p. 1). Directive as last amended by Directive 92/30/EEC (OJ No L 110, 28. 4. 1992, p. 52).], the authorization of which covers one or more of the investment services listed in Section A of the Annex to Directive 93/22/EEC;