When Catholic theorists, drawing on the Social Magisterium of the Church, speak of "corporations" they do not mean the modern limited liability company or société anonymé, they mean a body like the mediæval guilds and universities. Oxford University is one of the last surviving such corporations in the world. In fact, the word "universitas" was often used as a synonym for "corporation" during the High Ages of Faith! It is great news that the Congregation of Oxford has rejected plans to "modernise" its structure. Now, let us pray God that it may return to its Catholic roots as evidenced by the names of many of its Colleges (All Soul's, and Corpus Christi come to mind).
From the Times.
From the website of the University.