Article 19 Determination of whether the entity has the responsibility of implementing group-wide requirements

Pursuant to Article 2(1) number (42)(b)(iv) of Regulation (EU) 2024/1624 the obliged entity identified as being the parent undertakingmeans:for groups whose head office is located in the Union, an obliged entity that is a parent undertaking as defined in Article 2, point (9), of Directive 2013/34/EU that is not itself a subsidiary of another undertaking in the Union, provided that at least one subsidiary undertaking is an obliged entity;for groups whose head office is located outside of the Union, where at least two subsidiary undertakings are obliged entities established in the Union, an undertaking within that group established in the Union that:is an obliged entity;is an undertaking that is not a subsidiary of another undertaking that is an obliged entity established in the Union;has a sufficient prominence within the group and a sufficient understanding of the operations of the group that are subject to the requirements of this Regulation; andis given the responsibility of implementing group-wide requirements under Chapter II, Section 2 of this Regulation; in the Union due to its sufficient prominence and understanding of operations under Articles 17 and 18 of this Regulation shall have the responsibility and oversight of implementing group-wide requirements as referred to in Article 16(1) of Regulation (EU) 2024/1624, Section 2 and Section 3 of this Regulation.