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For the purposes of this Agreement:
a) “competent authority” means the governmental authority of each Contracting Party responsible for supervising the fulfilment by undertakings of the stock obligation;
b) “stocks” means any stocks of crude oil or petroleum products (including blending and finished products) covered by the Directive;
c) “stock obligation” means the overall quantity of stock required to be held under national law;
d) “supply crisis” shall have the same meaning as in Article 7, paragraph 2 e), of the Directive;
e) “territory” means the area within the European Union over which each Contracting Party exercises jurisdiction;
f) “undertaking” means any undertaking, body or entity established in the territory of one Contracting Party which holds stocks for the purpose of facilitating compliance, whether by that undertaking or a third party, with the law relating to oil stocking obligations of that or the other Contracting Party.