Citation

1. This Order may be cited as the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 4) Order 2000.

Interpretation

2. —(1) In this Order—

(a) “small business supplier” means a supplier, not being a United Kingdom public authority, whose business is a small business;

(b) “small business purchaser” means a purchaser, not being a United Kingdom public authority, whose business is a small business;

(c) “United Kingdom public authority” means an authority falling within Schedule 1 to the first commencement order, the Schedule to the second commencement order or the Schedule to the third commencement order;

(d) “the first commencement order” means the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 1) Order 1998( 2 );

(e) “the second commencement order” means the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 2) Order 1999( 3 );

(f) “the third commencement order” means the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 3) Order 2000( 4 ).

(2) For the purposes of this Order, a business is a small business if the number of full-time employees employed in the business is 50 or fewer when calculated in accordance with Schedule 2 to the first commencement order.

Contracts in relation to which the Late Payment of Commercial Debts (Interest) Act 1998 comes into force on 1st November 2000

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.