PURPOSE: To obtain a composition, comprising a specific emulsion resin, a specified (co)polymer resin and a specific epoxy resin, excellent in corrosion resistance, processability and recoating properties and useful for automobiles, etc.

CONSTITUTION: The composition comprises (A) a self-emulsifiable type polyurethane emulsion resin, (B) a polymer resin of a propenyloxazoline expressed by the formula [R1 to R4 are H, halogen, alkyl or (substituted)phenyl; R5 is propenyl] such as 2-isopropenyl-2-oxazoline or a copolymer resin of the propenyloxazoline and a monomer unreactive with the oxazoline group such as methyl (meth)acrylate and (C) a self-emulsifiable type epoxy resin. The amount of the component (B) is preferably 5-20 pts.wt. [based on 100 pts.wt. total amount of the components (A) and (C)].