(1) This Part applies to single payment transactions and to framework contracts and payment transactions covered by them. The parties to a payment transaction or framework contract may agree that this Part does not, or particular provisions of it do not, apply to the transaction or contract if the payment service user is not a consumer.
(2) This Part applies to a micro enterprise in the same way as to a consumer.
(3) For the purposes of this Part, an undertaking shall be taken to be a micro enterprise -
(a) for the purposes of a single payment transaction if it satisfies the definition in Regulation 3 at the time of initiation of the transaction, or
(b) for the purposes of a framework contract if it satisfies that definition at the time of entering into the framework contract.