1.As far as the transparency referred to in Article 1(1) is concerned, this Directive shall not apply to financial relations between the public authorities and:
(a)public undertakings, as regards services the supply of which is not liable to affect trade between Member States to an appreciable extent;
(b)central banks;
(c)public credit institutions, as regards deposits of public funds placed with them by public authorities on normal commercial terms;
(d)public undertakings whose total annual net turnover over the period of the two financial years preceding that in which the funds referred to in Article 1(1) are made available or used has been less than EUR 40 million. However, for public credit institutions the corresponding threshold shall be a balance sheet total of EUR 800 million.
2.As far as the transparency referred to in Article 1(2) is concerned, this Directive shall not apply:
(a)to undertakings, as regards services the supply of which is not liable to affect trade between Member States to an appreciable extent;
(b)to undertakings whose total annual net turnover over the period of the two financial years preceding any given year in which it enjoys a special or exclusive right granted by a Member State pursuant to Article 86(1) of the Treaty, or in which it is entrusted with the operation of a service of general economic interest pursuant to Article 86(2) of the Treaty is less than EUR 40 million; however, for public credit institutions the corresponding threshold shall be a balance sheet total of EUR 800 million;
(c)to undertakings which have been entrusted with the operation of services of general economic interest pursuant to Article 86(2) of the Treaty if the compensation they receive, in any form whatsoever, was fixed for an appropriate period following an open, transparent and non-discriminating procedure.