Paragraph 5 Small businessesI1I2
United Kingdom
(1)
A contract between a consumer and a trader where—
(a)
the trader’s turnover in the trader’s last financial year was less than £1,000,000, and
(b)
the trader does not enter into consumer savings scheme contracts which result in an account held by a trader for a consumer being credited with funds of more than £120 at any given time.
(2)
Where a trader is in their first year of trading, the exclusion in this paragraph applies if the test in sub-paragraph (1)(b) alone is satisfied.
Annotations
Commencement
- I1
Sch. 24 para. 5 not in force at Royal Assent, see s. 339(1)
- I2
Sch. 24 para. 5 in force at 1.1.2026 by S.I. 2025/272, reg. 3