small business

(1)178 (in COMP and in the definition of relevant credit union client159) a partnership, body corporate, unincorporated association or mutual association with an annual turnover of less than £1 million (or its equivalent in any other currency at the relevant time).5

(2) (in DISP) an enterprise which:178

1. (a) is not a micro-enterprise;178
2. (b) has an annual turnover of less than £6.5 million (or its equivalent in any other currency); and178
   1. (i) employs fewer than 50 persons; or178
   2. (ii) has a balance sheet total of less than £5 million (or its equivalent in any other currency),178
   and in determining whether these criteria are met articles 3 to 6 of the Annex to the Micro-enterprise Recommendation must be applied.178