The following is added to Article 5 of the first Directive:
‘(d) “large risks” means:
risks classified under classes 4, 5, 6, 7, 11 and 12 of point A of the Annex;
risks classified under classes 14 and 15 of point A of the Annex, where the policy-holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions, and the risks relate to such activity;
risks classified under classes 8, 9, 13 and 16 of point A of the Annex in so far as the policy-holder exceeds the limits of at least two of the following three criteria:
first stage: until 31 December 1992:
balance-sheet total: 12,4 million ECU,
net turnover: 24 million ECU,
average number of employees during the financial year: 500.
second stage: from 1 January 1993:
balance-sheet total: 6,2 million ECU,
net turnover: 12,8 million ECU,
average number of employees during the financial year: 250.
If the policy-holder belongs to a group of undertakings for which consolidated accounts within the meaning of Directive 83/349/EEC 7 are drawn up, the criteria mentioned above shall be applied on the basis of the consolidated accounts.
Each Member State may add to the category mentioned under (iii) risks insured by professional associations, joint ventures or temporary groupings.’