(1) In these Regulations, unless the context otherwise requires -
"Act of 1942" means the Central Bank Act 1942 (No. 22 of 1942);
"applicant" means a person who applies for an authorisation under Regulation 7;
"Bank" means the Central Bank of Ireland;
"Commission Recommendation" means the Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises [OJ No. L 124, 20.5.2003, p. 36.];
"competent authority of another Member State" means a competent authority of another Member State designated for the purposes of the Payment Services Directive under the law of that Member State;
"court" means the High Court;
"credit institution" has the same meaning as it has in the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014);
"credit union" has the same meaning as it has in the Credit Union Act 1997 (No. 15 of 1997);
"Directive 2009/110/EC" means Directive 2009/110/EC of the European Parliament and of the Counc
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