Article 3 Prohibition on opening current accounts for disqualified persons

In article 2 of this Order—

(a)

“charity” means a body whose annual income is less than £1 million and is any of the following—

(i)

in England and Wales, a charity as defined by section 1(1) of the Charities Act 2011^f1;

(ii)

in Scotland, a charity as defined by section 106 of the Charities and Trustee Investment (Scotland) Act 2005^f2;

(iii)

in Northern Ireland, a charity as defined by section 1(1) of the Charities Act (Northern Ireland) 2008^f3;

(b)

“consumer” means an individual who, with respect to an account to be or being operated by or for them, is acting for purposes other than a trade, business or profession;

(c)

“micro-enterprise” means an enterprise as defined in Article 1 and Article 2(1) and (3) of the Annex to Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises^f4.

Annotations

Footnotes

f1: 2011 c.25.
f2: 2005 asp 10.
f3: 2008 c.12.
f4: OJ No L 124, 20.5.2003, p36.