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41.—(1) Schedule 4 shall have effect with respect to the capital fee payable in connection with an application made by or on behalf of a small company.
(2) For the purpose of these Regulations, a company is a small company if, for the financial year before that in which the application is made, the amount of its turnover for the financial year is not more than the amount for the time being specified under the heading “Small company” in section 382(3) (qualification of company as small) of the Companies Act 2006(1) and the condition in paragraph (3)(a) or (b) is met.
(3) The conditions for the purposes of paragraph (2) are—
(a)the company’s balance sheet total (as defined in section 382(5) of that Act) is not more than the amount for the time being specified under the heading “Small company” in section 382(3) of that Act; or
(b)the average number of persons employed by the company in the financial year before that in which the application is made (determined on a weekly basis) does not exceed the number for the time being specified under the heading “Small company” in section 382(3) of that Act.
2006 c.46. A relevant amendment is made by S.I. 2008/393.
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