Regulation 10 Regulation 56 amended (application of Part 2 of the Consumers, Estate Agents and Redress Act 2007 with modifications)

for the definition of “a micro-business” substitute—

““micro-business” means a business that—

(a)

consumes less than 247,000 kilowatt hours of heat per year;

(b)

has fewer than 10 full-time equivalent employees; or

(c)

has either—

(i)

an annual turnover of £2 million or less; or

(ii)

a balance sheet total of £2 million or less;”;

after the definition of “the Scheme Terms” insert—

““small business” means a business that—

(a)

either—

(i)

consumes less than 420,000 kilowatt hours of heat per year; or

(ii)

has fewer than 50 full-time equivalent employees; and

(b)

has either—

(i)

an annual turnover of £6.5 million or less; or

(ii)

a balance sheet total of £5 million or less.”.