No L 229/20 Official Journal of the European Communities 28. 8. 85 COMMISSION DIRECTIVE of 24 July 1985 amending Directive 80/723/EEC on the transparency of financial relations between Member States and public undertakings (85/413/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having» regard to the Treaty establishing the European Economic Community, and in particular Article 90 (3) thereof, Whereas Article 4 (b) and (c) of Commission Directive 80/723/EEC (*) excludes from its scope public under- takings carrying on activities in the sectors of water and energy, posts and telecommunications, transport and public credit institutions ; Whereas public undertakings operating in these sectors play an important role in the economies of the Meémber States ; whereas the need for transparency of financial relations between the Member States and public undertakings in certain sectors previously excluded has proved greater than before in view of developments in the competitive situation in the - sectors concerned and the progress made towards closer economic integration ; Whereas equal treatment of public and private under- takings must also be ensured in these sectors ; whereas in particular transparency of financial relations between the Member States and public undertakings in these sectors must be established for the same reasons and to the same extent as for the undertakings covered by Directive 80/723/EEC; - Whereas the Commission is required by the Treaty to ensure that Member States do not grant undertakings, whether public or private, in the said sectors aids incompatible with the common market ; Whereas the Commission advised the Member States when notifying Directive 80/723/EEC to them that the exclusion of these sectors was only temporary ; Whereas by virtue of Article 232 (1) of the EEC Treaty the provisions of that Treaty shall not affect those of the ECSC Treaty ; whereas the ECSC Treaty contains . special provisions governing the obligations of Member States as far as public undertakings and aid . (") OJ No L 195, 29. 7. 1980, p. 35. are concerned ; whereas Article 90 of the EEC Treaty is therefore inapplicable to public undertakings carrying on activities coming under the ECSC Treaty ; Whereas by virtue of Article 232 (2) of the EEC Treaty the provisions of that Treaty shall not derogate from those of the Euratom Treaty, but whereas the latter does not contain any special provisions on public - undertakings or aid ; whereas Article 90 of the EEC Treaty therefore applies to the nuclear energy field ; Whereas the transparency of the Member States’ finan- cial relations with public undertakings in the rail, road and inland waterway transport sectors is already regu- lated to a considerable extent by legislation enacted by - the Council ; whereas this Directive is without preju- dice to that legislation ; - Whereas Directive 80/723/EEC contains provisions, particularly in Articles 3 and §, which may facilitate the Commission’s task in meeting the obligations it has assumed under the said Council legislation, in particular as regards the preparation of periodical reports on the performance of those public under- takings ; Whereas the scope of Directive -80/723/EEC should * therefore be extended to cover all the transport sector ; Whereas Member States’ financial relations with credit institutions belonging to the public sector are also covered by this Directive; whereas, however, the Directive should not apply to Member States’ relations with central banks which are responsible for the conduct of monetary policy ; Whereas public authorities often deposit short-term funds with public credit institutions on normal commercial terms; whereas such deposits do not confer special advantages on the credit institutions and should therefore not be. covered by the Directive ; Whereas the economic importance of credit institu- tions does not depend on their turnover but on their balance sheet total ; whereas the threshold laid down in Article 4 (d) of Directive 80/723/EEC should there- fore be set as far as credit institutions are concerned by reference to that criterion,