xmlns:atom="http://www.w3.org/2005/Atom"
12.—(1) In Schedule 1–
(a)for paragraph 3(a) substitute–
“(a)that person’s turnover in the last financial year in respect of which audited accounts are available before the relevant date was more than £2,000,000; and”; and
(b)for paragraph 4(1)(c) substitute–
“(c)“relevant date” means–
(i)7th April in the obligation year; or
(ii)where an application for registration is made in a circumstance set out in regulation 6(3), or as required by paragraph 11 of Schedule 9, the date of the application.”.