(1) A company that is not excluded by subsection (4) qualifies as a micro company in relation to its first financial year if the qualifying conditions are satisfied in respect of that year.
(2) A company that is not excluded by subsection (4) qualifies as a micro company in relation to a subsequent financial year (in this subsection referred to as the 'relevant year') if the qualifying conditions -
(a) are satisfied in respect of the relevant year and the financial year immediately preceding the relevant year,
(b) are satisfied in respect of the relevant year and the company qualified as a micro company in relation to the financial year immediately preceding the relevant year, or
(c) were satisfied in the financial year immediately preceding the relevant year and the company qualified as a micro company in relation to that preceding financial year.
(3) The qualifying conditions for a micro company are satisfied by a company if, in relation to a financial year, it -
(a) qualifies for th
…