For the purposes of this Regulation the following definitions apply:
(1)"CCP" means a CCP as defined in point (1) of Article 2 of Regulation (EU) No 648/2012;
(2)"resolution college" means the college established pursuant to Article 4;
(3)"resolution authority" means an authority designated by a Member State in accordance with Article 3;
(4)"resolution tool" means a resolution tool as set out in Article 27(1);
(5)"resolution power" means any of the powers laid down in Articles 48 to 58;
(6)"resolution objectives" mean the resolution objectives laid down in Article 21;
(7)"competent authority" means an authority designated by a Member State in accordance with Article 22 of Regulation (EU) No 648/2012;
(8)"default event" means a scenario in which the CCP has declared in default: (a) one or more clearing members in accordance with the procedure set out in Article 48 of Regulation (EU) No 648/2012; or (b) one or more interoperable CCPs in accordance with the relevant contractual arra
…