For the purposes of this Directive, the following definitions apply:

(1) "home Member State" means either of the following: (a) the Member State in which the registered office of the payment service provider is situated; or (b) if the payment service provider has, under its national law, no registered office, the Member State in which its head office is situated:

(2) "host Member State" means the Member State other than the home Member State in which a payment service provider has an agent or a branch or provides payment services;

(3) "payment service" means any business activity set out in Annex I;

(4) "payment institution" means a legal person that has been granted authorisation in accordance with Article 11 to provide and execute payment services throughout the Union;