BB3.5 Definitions (26/07/1999)

BB3.5.1 Business experience

Business experience means a minimum of 2 years of either:

1. owning a lawful business enterprise (see BB3.5.5 below); or
2. management (see BB3.5.10 below) or supervisory (see BB3.5.15 below) experience in a lawful business enterprise (see BB3.5.20 below).

BB3.5.5 Owning a business

Owning a business means owning at least 25% of a business.

BB3.5.10 Management experience

Management experience means experience in the planning, organisation and control of the activities of a business.

BB3.5.15 Supervisory experience

Supervisory experience means having line management responsibilities in a business where such responsibilities involve the planning, organisation and control of the activities of that business.

BB3.5.20 Business enterprise

A business enterprise is an organisation that:

1. operates in a commercial environment with the goal of returning a profit, and
2. is not set up primarily for passive or speculative purposes.

Effective 26/07/1999