Prohibition on opening current accounts for disqualified persons3

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 20112;

ii

in Scotland, a charity as defined by section 106 of the Charities and Trustee Investment (Scotland) Act 20053;

iii

in Northern Ireland, a charity as defined by section 1(1) of the Charities Act (Northern Ireland) 20084;

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 enterprises5.