Definition: critical or important function: critical or important function
DORA Art. 3 (critical or important function)
a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law
Defines (1)
Source texts: the Official Journal, through the Publications Office. Dataset built 2026-07-29. Study aid, not legal advice.
Every connection on this page is drawn from the official text of Regulation (EU) 2022/2554. Study aid, not legal advice.
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