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.