Small and Medium Sized Company definition sets unlisted, non financial status and turnover and borrowing thresholds defining eligibility. Definitions set out that Accounting Standards are those specified in rule 3 and Financial Statements align with the Companies Act. Enterprise means a company under the Act. The Small and Medium Sized Company (SMC) definition imposes that securities be unlisted, excludes banks, financial institutions and insurers, and applies quantitative turnover and borrowing limits plus a rule disqualifying holding/subsidiary relationships; SMC status is determined at the end of the relevant accounting period.