The Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 2) Order 1999

Citation

1.  This Order may be cited as the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 2) Order 1999.

Interpretation

2.—(1) In this Order–

(a) “small business supplier” means a supplier, not being a body falling within Schedule 1 to the first commencement order or a United Kingdom public authority, whose business is a small business;

(b) “United Kingdom public authority” means an authority falling within the Schedule;

(c) “the first commencement order” means the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 1) Order 1998(1).

(2) For the purposes of this Order, a business is a small business if the number of full-time employees employed in the business is 50 or fewer when calculated in accordance with Schedule 2 to the first commencement order.

Contracts in relation to which the Late Payment of Commercial Debts (Interest) Act 1998 comes into force on 1st July 1999

3.—(1) The Late Payment of Commercial Debts (Interest) Act 1998 shall come into force on 1st July 1999 in relation to contracts for the supply of goods or services made on or after that date between a small business supplier and any purchaser who is a United Kingdom public authority.

(2) The question whether a contract falls within this description is to be determined by reference to the circumstances when the contract is made and, accordingly, is not affected by any subsequent change in those circumstances.

Michael Wills,

Parliamentary Under Secretary of State for Small Firms, Trade and Industry,

Department of Trade and Industry

25th June 1999