Recital 1

(1)First Council Directive 68/151/EEC of 9 March 1968 on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 58 of the Treaty, with a view to making such safeguards equivalent throughout the Community ⁴ has been substantially amended several times ⁵. In the interests of clarity and rationality that Directive should be codified.