# Digital Markets, Competition and Consumers Act 2024, Paragraph 5: Small businesses

Extent: E+W+S+N.I.

(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.

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Source: https://www.legislation.gov.uk/ukpga/2024/13/schedule/24/paragraph/5 (the official version)
Page: https://openlegislation.uk/digital-markets-competition-and-consumers-act-2024/schedule-24/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.