BKM207775 - Bank compensation restriction: definition of banking company: excluded companies - other companies
CTA09/S133F(2)(i) – (k)
A company is also an excluded company if it is a:
- friendly society
- credit union
- a building society
A building society remains a banking company even though it is an excluded entity this is because a building society as defined at BKM307200 will always be a banking company.