Exemption from the requirement to hold a licence: applicable turnover
8.—(1) A person who provides health care services for the purposes of the NHS (P) is exempt from the requirement to hold a licence if their applicable turnover for the relevant business year is less than, or is reasonably expected to be less than, £10 million.
(2) Where P’s relevant business year is more or less than 12 months, P’s applicable turnover is to be the applicable turnover in that business year divided by the number of complete months in that business year and multiplied by 12.
(3) P must notify Monitor as soon as reasonably practicable after P becomes aware that the criterion laid down in paragraph (1) ceases to apply in relation to P.
(4) Where P ceases to meet the criterion laid down in paragraph (1), P is to be deemed to be aware that P ceases to meet that criterion on the day that P’s accounts for the relevant business year are signed by P.
(5) The exemption granted to P under paragraph (1) is withdrawn from the earlier of—
(a)the end of the period of 60 days starting on the date on which P becomes aware that P ceases to meet the criterion laid down in that paragraph, or
(b)the issuing by Monitor of a licence to P under section 87(3) of the 2012 Act (grant or refusal of a licence).
(6) In this regulation, “relevant business year” means the last business year in respect of which figures for P’s applicable turnover are available.