small and medium-sized enterprises
Defined in Article 2, Prospectus Regulation
Definitions over time (1)
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04/12/2024 – today applies on 12/11/2026 Article 2, Prospectus Regulation Scope: Whole act Also: SMEs
For the purposes of this Regulation, the following definitions apply:
‘small and medium-sized enterprises’ or ‘SMEs’ means any of the following: companies, which, according to their last annual or consolidated accounts, meet at least two of the following three criteria: an average number of employees during the financial year of less than 250, a total balance sheet not exceeding EUR 43 000 000 and an annual net turnover not exceeding EUR 50 000 000; small and medium-sized enterprises as defined in point (13) of Article 4(1) of Directive 2014/65/EU.
Earlier definition records in this act (2)
Open an entry to see its definitions, dates and uses. Separate scopes and histories are kept intact.
- Article 2(f) Historical · definitions end 31/12/2019
- Article 2(f) Historical · definitions end 04/12/2024
Used in (38 places in 18 provisions on 12/11/2026)
Prospectus Regulation (38 in 18)
Recital 172 · Recital 49 · Recital 502 · Recital 518 · Recital 78 · Recital 832 · Recital 85 · Article 12 · Article 25 · Article 14a4 · Article 15a3 · Article 47 · Article 48 · Annex IV · Annex IX · Annex V · Annex VII · Annex VIII