1. For the purposes of this Directive, the following definitions apply:
(1) "ancillary services undertaking" means an undertaking, the principal activity of which consists of owning or managing property, managing data-processing services, or a similar activity which is ancillary to the principal activity of one or more investment firms;
(2) "authorisation" means authorisation of an investment firm in accordance with Article 5 of Directive 2014/65/EU;
(3) "branch" means a branch as defined in point (30) of Article 4(1) of Directive 2014/65/EU;
(4) "close links" means close links as defined in point (35) of Article 4(1) of Directive 2014/65/EU;
(5) "competent authority" means a public authority or body of a Member State that is officially recognised and empowered by national law to supervise investment firms in accordance with this Directive, as part of the supervisory system in operation in that Member State;
(6) "commodity and emission allowance dealer" means a commodity and emission a
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