AMENDMENTS 1 - 51 - Draft opinion Amending Regulations (EU) 2015/1017, (EU) 2021/523, (EU) 2021/695 and (EU) 2021/1153 as regards increasing the efficiency of the EU guarantee under Regulation (EU) 2021/523 and simplifying reporting requirements

Version initale

(21) ‘small and medium-sized enterprise’ (‘SME’) means (a) in case of financial products not conferring advantage in State aid terms, an enterprise which, according to its last annual or consolidated accounts, employs an average number of employees during the financial year of less than 250, or (b) in case of other types of financial products, a micro, small or medium-sized enterprise within the meaning of the Annex to Commission Recommendation 2003/361/ECor as otherwise defined in the guarantee agreement;; __________________ Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium- sized enterprises (OJ L 124, 20.5.2003, p. 36).

Amendement

(21) ‘small and medium-sized enterprise’ (‘SME’) means (a) in case of financial products not conferring advantage in State aid terms, an enterprise which, according to its last annual or consolidated accounts: i) employs an average number of employees during the financial year of less than 250; ii) has an annual turnover not exceeding EUR 50 million or an annual balance sheet total not exceeding EUR 43 million and iii) has less than 25% of the capital or voting rights owned by a larger enterprise, except investors such as public investment corporations, venture capital companies, individuals or groups of individuals with a regular venture capital investment activity who invest equity capital in unquoted businesses; or (b) in case of other types of financial products, a micro, small or medium-sized enterprise within the meaning of the Annex to Commission Recommendation 2003/361/ECor as otherwise defined in the guarantee agreement; __________________ Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium- sized enterprises (OJ L 124, 20.5.2003, p. 36).