BKM402775 - Banking surcharge: definition of banking company: excluded entities: other companies
An entity is also an excluded entity 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 in BKM402200 will always be a banking company. Unlike a company, it does not need to meet conditions A to E to be a banking company.