PART 1The Small Business Commissioner
“Small businesses”
I12Small businesses in relation to which the Commissioner has functions
1
In this Part “small business” means a relevant undertaking which—
a
has a headcount of staff of less than 50,
b
if the business threshold condition applies to the relevant undertaking, meets that condition, and
c
is not a public authority.
2
The Secretary of State may by regulations (“SBC scope regulations”) make further provision about the meaning of “small business” in this Part.
3
For the purposes of subsection (1)(b), the business threshold condition applies to a relevant undertaking if—
a
SBC scope regulations provide for that condition to apply in relation to all relevant undertakings, or
b
the relevant undertaking falls within a description of undertakings to which SBC scope regulations apply that condition.
4
A relevant undertaking meets the business threshold condition if it has a turnover, or balance sheet total, of an amount less than or equal to the small business threshold.
5
SBC scope regulations may (amongst other things) make provision about—
a
the date (“the assessment date”) on which, or the period (“the assessment period”) for which, a relevant undertaking must meet a requirement of subsection (1)(a) or (b) in order to be a small business;
b
the calculation of the headcount of staff, turnover or balance sheet total of a relevant undertaking at the assessment date or for the assessment period;
c
the circumstances in which a relevant undertaking which has been established for less than a complete assessment period is to be regarded as meeting a requirement for that period.
6
SBC scope regulations may provide that a relevant undertaking of a specified description is not a small business even if it falls within the definition.
7
SBC scope regulations may—
a
make transitional or transitory provision or savings;
b
make different provision for different purposes.
8
SBC scope regulations are to be made by statutory instrument.
9
A statutory instrument containing SBC scope regulations may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.
10
In this section—
“balance sheet total”, “headcount of staff”, “turnover” and “small business threshold” have such meanings as may be specified;
“relevant undertaking” means a person who is carrying on one or more businesses and whose registered office or principal place of business is in the United Kingdom;
“specified” means specified in SBC scope regulations.