31. 1.77 Official Journal of the ! Huropean Communities No L 26/1 I (Acts whose publication is not obligatory) COUNCIL SECOND COUNCIL DIRECTIVE of 13 December 1976 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, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent . (77/91/EEC) THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular Article 54 (3) (g) thereof, * Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (1), Having regard to the opinion of the Economic and Social Committee (2), Whereas the coordination provided for in Article 54 (3) (g) and in the General Programme for the abolition of restrictions on freedom of establishment, which was begun by Directive 68/151/EEC (3), is especially important in relation to public limited liability =~ companies, because their activities predominate in the economy of the Member States and frequently extend beyond their national boundaries; Whereas in order to ensure minimum equivalent protection for both shareholders and creditors of (1) OJ No C 114, 11. 11. 1971, p. 18. (?) OJ No C 88, 6. 9. 1971, p. 1. (3) OJ No L 65, 14. 3. 1968, p. 8. public limited liability companies, the coordination of national provisions relating to their formation and to the maintenance, increase or reduction of their-capital is particularly important; Whereas in the territory of the Community, the statutes or instrument of incorporation of a public limited liability -company must make it possible for any interested person to acquaint himself with the basic particulars of the company, including the exact composition of its capital; Whereas Community provisions should be adopted for maintaining the capital, which constitutes the creditors’ security, in particular by prohibiting any reduction thereof by distribution to shareholders where the latter are not entitled to it and by imposing limits on the company’s right to acquire its own shares; Whereas it is necessary, having regard to the objectives of Article 54 (3) (g), that the Member States’ laws relating to the increase or reduction of capital ensure that the principles of equal treatment of shareholders in the same position and of protection of creditors whose claims exist prior to the decision on reduction are observed and harmonized,