diff --git a/addons/base_setup/todo.py b/addons/base_setup/todo.py
index 8299d6e3873..fac32b4b22e 100644
--- a/addons/base_setup/todo.py
+++ b/addons/base_setup/todo.py
@@ -60,7 +60,8 @@ class base_setup_company(osv.osv_memory):
 
         companies = self.pool.get('res.company')
         company_id = companies.search(cr, uid, [], limit=1, order="id")
-        if not company_id or 'company_id' in defaults: return defaults
+        if not company_id or 'company_id' not in fields_list:
+            return defaults
         company = companies.browse(cr, uid, company_id[0])
 
         defaults['company_id'] = company.id