micro-enterprise

an enterprise which:

1. (a) employs fewer than 10 persons; and
1. (b) has a turnover or annual balance sheet that does not exceed €2 million,

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

[Note: article 4(36 ) of the Payment Services Directive and the Annex to the Micro-enterprise Recommendation]