(1) A company qualifies as small in relation to its first financial year if the qualifying conditions are met in that year.
[(1A) Subject to subsection (2), a company qualifies as small in relation to a subsequent financial year if the qualifying conditions are met in that year.]
[(2) In relation to a subsequent financial year, where on its balance sheet date a company meets or ceases to meet the qualifying conditions, that affects its qualification as a small company only if it occurs in two consecutive financial years.]
(3) The qualifying conditions are met by
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