By virtue of Article 58 companies and firms formed in accordance with the law of a member state and having a registered office, central administration or principal place of business in the Community shall be treated for the purpose of establishment in the same way as natural persons. These comprise corporate bodies constituted under civil or commercial law, including co-operative societies, and other legal persons governed by public or private law except those which are non-profit making. Whilst the member states are bound to abolish the existing restrictions and refrain from introducing any new restrictions1 the Community must co-ordinate the safeguards which, for the protection of the interests of members and others, are required by the member states of companies and firms with a view to making such safeguards equivalent throughout the Community2.

By virtue of Article 58 companies and firms formed in accordance with the law of a member state and having a registered office, central administration or principal place of business in the Community shall be treated for the purpose of establishment in the same way as natural persons. These comprise corporate bodies constituted under civil or commercial law, including co-operative societies, and other legal persons governed by public or private law except those which are non-profit making. Whilst the member states are bound to abolish the existing restrictions and refrain from introducing any new restrictions1 the Community must co-ordinate the safeguards which, for the protection of the interests of members and others, are required by the member states of companies and firms with a view to making such safeguards equivalent throughout the Community2.