CHAPTER I U.K. SUBJECT MATTER AND DEFINITIONS

Article 2 U.K. Definitions

For the purposes of this Regulation:

1.

‘SME’ means a micro, small or medium-sized enterprise within the meaning of Recommendation 2003/361/EC;

2.

‘medium enterprise’ means a medium-sized enterprise within the meaning of Recommendation 2003/361/EC;

3.

‘small enterprise’ means a small enterprise within the meaning of Recommendation 2003/361/EC;

4.

‘micro enterprise’ means a micro enterprise within the meaning of Recommendation 2003/361/EC.

[F1 In the application of Recommendation 2003/361/EC for the purposes of this Regulation, the Annex to that Recommendation has effect with the following modifications:

(a) in Article 2(1)—

(i) the reference to EUR 50 million has effect as a reference to £43.650 million;

(ii) the reference to EUR 43 million has effect as a reference to £37.539 million;

(b) in Article 2(2) the reference to EUR 10 million has effect as a reference to £8.730 million;

(c) in Article 2(3) the reference to EUR 2 million has effect as a reference to £1.746 million;

(d) in Article 3(2)—

(i) in point (a), the reference to EUR 1,250,000 has effect as a reference to £1,091,250;

(ii) in point (d), the reference to EUR 10 million has effect as a reference to £8.730 million.]

Textual Amendments

F1 Words in Art. 2 inserted (31.12.2020) by The REACH etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/758), reg. 1(1), Sch. 6 para. 3; 2020 c. 1, Sch. 5 para. 1(1)