(1) The term “micro share capital companies” designates small share capital companies that do not exceed the limits of at least two of the three following criteria:
1. balance sheet total of 450,000 euros;
2. turnover of 900,000 euros in the twelve months prior to the balance sheet date;
3. average number of ten employees during the financial year.
Section 267 (4) to (6) applies accordingly.
(2) Unless stipulated otherwise, the special provisions made in the present Code for small share capital companies (section 267 (1)) apply accordingly to micro share capital companies.
(3) The following are not micro share capital companies:
1. investment companies within the meaning of section 1 (11) of the Investment Code (Kapitalanlagegesetzbuch),
2. equity finance companies within the meaning of section 1a (1) of the Act on Equity Finance Companies (Gesetz über Unternehmensbeteiligungsgesellschaften), or
3. enterprises the sole object of which is to acquire participating interests in other enterprises and to manage such holdings and turn them to profit, without involving themselves directly or indirectly in the management of those enterprises, whereby the exercise of the rights to which they are entitled as a stockholder or shareholder are not to be taken into account.