small business

(1) (in COMP and in the definition of relevant credit union client ) 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).

(2) (in DISP and in the definition of larger commercial customer) an enterprise which:

1. (a) is not a micro-enterprise;

2. (b) has an annual turnover of less than £6.5 million (or its equivalent in any other currency); and

   1. (i) employs fewer than 50 persons; or
   2. (ii) has a balance sheet total of less than £5 million (or its equivalent in any other currency),

   and in determining whether these criteria are met articles 3 to 6 of the Annex to the Micro-enterprise Recommendation must be applied.