3.—(1) The Late Payment of Commercial Debts (Interest) Act 1998 shall come into force on 1st November 2000 in relation to contracts for the supply of goods or services made on or after that date between a small business supplier and a small business purchaser.
(2) The question whether a contract falls within this description is to be determined by reference to the circumstances when the contract is made and, accordingly, is not affected by any subsequent change in those circumstances.