5HSXEOLF RI WKH 3KLOLSSLQHV &RQJUHVV RI WKH 3KLOLSSLQHV 0HWUR 0DQLOD 7HQWK &RQJUHVV 7KLUG 5HJXODU 6HVVLRQ
%HJXQ DQG KHOG LQ 0HWUR 0DQLOD RQ 0RQGD\ WKH WZHQW\ HLJKWK GD\ RI -XO\ QLQHWHHQ KXQGUHG DQG QLQHW\ VHYHQ >5(38%/,& $&7 12 @ &+,/'5(1¶6 7(/(9,6,21 $&7 2)
%H LW HQDFWHG E\ WKH 6HQDWH DQG +RXVH RI 5HSUHVHQWDWLYHV RI WKH 3KLOLSSLQHV LQ &RQJUHVV DVVHPEOHG
6(&7,21 7LWOH ² 7KLV $FW VKDOO EH NQRZQ DV WKH ³&KLOGUHQ¶V 7HOHYLVLRQ $FW RI ´ 6(& 'HFODUDWLRQ RI 3ROLF\ ²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¶V LQWHUHVWV E\ SURYLGLQJ WHOHYLVLRQ SURJUDPV WKDW UHIOHFW WKHLU QHHGV FRQFHUQV DQG LQWHUHVWV ZLWKRXW H[SORLWLQJ WKHP 7KH 6WDWH UHFRJQL]HV EURDGFDVWLQJ DV D IRUP RI PDVV FRPPXQLFDWLRQ JXDUDQWHHG E\ WKH &RQVWLWXWLRQ WKH H[HUFLVH RI ZKLFK LV LPSUHVVHG ZLWK SXEOLF LQWHUHVW DQG ZKLFK LPSRVHV XSRQ WKH EURDGFDVW LQGXVWU\ WKH VRFLDO UHVSRQVLELOLW\ RI HQVXULQJ WKDW LWV DFWLYLWLHV VHUYH WKH LQWHUHVW DQG ZHOIDUH RI WKH )LOLSLQR SHRSOH
6(& 'HILQLWLRQ RI 7HUPV ² )RU SXUSRVHV RI WKLV $FW WKH IROORZLQJ WHUPV VKDOO PHDQ D &KLOGUHQ DOO SHUVRQV EHORZ HLJKWHHQ \HDUV ROG E &KLOGUHQ¶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¶V 7HOHYLVLRQ ² 7KHUH LV KHUHE\ HVWDEOLVKHG D 1DWLRQDO &RXQFLO IRU &KLOGUHQ¶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¶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
SDJH
7KH PHPEHUV RI WKH &RXQFLO VKDOO VHUYH DQG FRQWLQXH WR KROG RIILFH XQWLO WKHLU VXFFHVVRUV VKDOO KDYH EHHQ DSSRLQWHG DQG TXDOLILHG 6KRXOG D PHPEHU RI WKH &RXQFLO IDLO WR FRPSOHWH KLV KHU WHUP WKH VXFFHVVRU VKDOO EH DSSRLQWHG E\ WKH 3UHVLGHQW EXW RQO\ IRU WKH XQH[SLUHG SRUWLRQ RI WKH WHUP 7KH UDQNV HPROXPHQWV DQG DOORZDQFHV RI WKH PHPEHUV RI WKH &RXQFLO VKDOO EH LQ DFFRUGDQFH ZLWK WKH 6DODU\ 6WDQGDUGL]DWLRQ /DZ DQG RWKHU DSSOLFDEOH ODZV 6(& 7KH &RXQFLO 6HFUHWDULDW ² 7KH &RXQFLO VKDOO RUJDQL]H D VHFUHWDULDW WR EH KHDGHG E\ DQ ([HFXWLYH 'LUHFWRU DQG ZLWK QRW PRUH WKDQ WZHQW\ SHUVRQQHO DV PD\ EH GHWHUPLQHG E\ WKH &RXQFLO 7KH &RXQFLO VKDOO GHWHUPLQH WKH VHFUHWDULDW¶V VWDIILQJ SDWWHUQ GHWHUPLQH WKH TXDOLILFDWLRQV GXWLHV UHVSRQVLELOLWLHV DQG IXQFWLRQV DV ZHOO DV FRPSHQVDWLRQ IRU WKH SRVLWLRQV WR EH FUHDWHG E\ WKH &RXQFLO XSRQ UHFRPPHQGDWLRQ RI WKH ([HFXWLYH 'LUHFWRU VXEMHFW WR WKH 1DWLRQDO &RPSHQVDWLRQ DQG &ODVVLILFDWLRQ 3ODQ DQG RWKHU H[LVWLQJ &LYLO 6HUYLFH UXOHV DQG UHJXODWLRQV 6(& 7KH $GYLVRU\ &RPPLWWHH DQG ,WV &RPSRVLWLRQ ² 7KHUH LV KHUHE\ FRQVWLWXWHG DQ $GYLVRU\ &RPPLWWHH ZKLFK VKDOO DVVLVW WKH &RXQFLO LQ WKH IRUPXODWLRQ RI QDWLRQDO SROLFLHV SHUWDLQLQJ WR FKLOGUHQ¶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
SDJH
6(& )XQFWLRQV RI WKH &RXQFLO ² 7KH &RXQFLO VKDOO KDYH WKH IROORZLQJ IXQFWLRQV D WR IRUPXODWH DQG UHFRPPHQG SODQV SROLFLHV DQG SULRULWLHV IRU JRYHUQPHQW DQG SULYDWH VHFWRU L H EURDGFDVWHUV SURGXFHUV DGYHUWLVHUV DFWLRQ WRZDUGV WKH GHYHORSPHQW RI KLJK TXDOLW\ ORFDOO\ SURGXFHG FKLOGUHQ¶V WHOHYLVLRQ SURJUDPPLQJ WR PHHW WKH GHYHORSPHQWDO DQG LQIRUPDWLRQDO QHHGV RI FKLOGUHQ E WR SURPRWH DQG HQFRXUDJH WKH SURGXFWLRQ DQG EURDGFDVWLQJ RI GHYHORSPHQWDOO\ DSSURSULDWH WHOHYLVLRQ SURJUDPV IRU FKLOGUHQ WKURXJK WKH DGPLQLVWUDWLRQ RI D QDWLRQDO HQGRZPHQW IXQG IRU FKLOGUHQ¶V WHOHYLVLRQ DQG RWKHU QHFHVVDU\ PHFKDQLVPV F WR PRQLWRU UHYLHZ DQG FODVVLI\ FKLOGUHQ¶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¶V EURDGFDVW SURJUDPV DV ZHOO DV WR UHFRPPHQG DQG UHTXLUH WKH DSSURSULDWH JRYHUQPHQW DJHQFLHV DQG RU VHOI UHJXODWRU\ ERGLHV FRQFHUQHG WR HQIRUFH WKH DSSURSULDWH VDQFWLRQV IRU YLRODWLRQV RI WKHVH UHJXODWLRQV DQG SROLFLHV EDVHG RQ WKHLU UHVSHFWLYH PDQGDWHV K WR UHFRPPHQG WR &RQJUHVV DSSURSULDWH OHJLVODWLYH PHDVXUHV ZKLFK ZLOO JUDQW LQFHQWLYHV IRU LQGHSHQGHQW SURGXFHUV DQG EURDGFDVWHUV WR HQFRXUDJH WKH SURGXFWLRQ RI TXDOLW\ ORFDO FKLOGUHQ¶V WHOHYLVLRQ SURJUDPV DQG L WR DFW RQ FRPSODLQWV FRPPLWWHG LQ YLRODWLRQ RI WKLV $FW ZLWK WKH JRDO RI SURWHFWLQJ FKLOGUHQ IURP WKH QHJDWLYH DQG KDUPIXO LQIOXHQFHV DQG WR FDXVH RU LQLWLDWH WKH SURVHFXWLRQ RI YLRODWRUV RI WKLV $FW 6(& 6XEPLVVLRQ RI &RPSUHKHQVLYH 0HGLD 3URJUDP IRU &KLOGUHQ ² :LWKLQ RQH \HDU IURP WKH HIIHFWLYLW\ RI WKLV $FW WKH &RXQFLO LQ FRQVXOWDWLRQ ZLWK WKH $GYLVRU\ &RPPLWWHH VKDOO VXEPLW WR &RQJUHVV D FRPSUHKHQVLYH GHYHORSPHQW DQG SURWHFWLRQ SURJUDP ZLWK WKH HQG LQ YLHZ RI IRUPXODWLQJ SROLFLHV RQ FKLOGUHQ¶V PHGLD 5HSXEOLF $FW 1R
SDJH
SURJUDPV DQG UHFRPPHQGLQJ SODQV DQG SULRULWLHV IRU JRYHUQPHQW WRZDUGV WKH SURPRWLRQ GHYHORSPHQW SURGXFWLRQ DQG EURDGFDVWLQJ RI GHYHORSPHQWDOO\ DSSURSULDWH PHGLD SURJUDPV IRU FKLOGUHQ /LNHZLVH LW VKDOO SUHVFULEH DQ DSSURSULDWH VHW RI FULWHULD IRU HYDOXDWLQJ SURJUDPV ZLWK WKH HQG LQ YLHZ RI HVWDEOLVKLQJ D 7HOHYLVLRQ 9LROHQFH 5DWLQJ &RGH 7RZDUGV WKLV HQG WKH &RXQFLO PD\ FRQVLGHU LQWHUQDWLRQDOO\ DFFHSWHG SURJUDPV RI DFWLRQ IRU FKLOGUHQ¶V WHOHYLVLRQ 0RUH SDUWLFXODUO\ WKH &RXQFLO VKDOO EH JXLGHG E\ WKH IROORZLQJ VWDQGDUGV KHUHLQ WR EH NQRZQ DV ³7KH &KDUWHU RI &KLOGUHQ¶V 7HOHYLVLRQ´ D &KLOGUHQ VKRXOG KDYH SURJUDPV RI KLJK TXDOLW\ ZKLFK DUH PDGH VSHFLILFDOO\ IRU WKHP DQG ZKLFK GR QRW H[SORLW WKHP 7KHVH SURJUDPV LQ DGGLWLRQ WR EHLQJ HQWHUWDLQLQJ VKRXOG DOORZ FKLOGUHQ WR GHYHORS SK\VLFDOO\ PHQWDOO\ DQG VRFLDOO\ WR WKHLU IXOOHVW SRWHQWLDO E &KLOGUHQ VKRXOG KHDU VHH DQG H[SUHVV WKHPVHOYHV WKHLU FXOWXUH ODQJXDJHV DQG OLIH H[SHULHQFHV WKURXJK WHOHYLVLRQ SURJUDPV ZKLFK DIILUP WKHLU VHQVH RI VHOI FRPPXQLW\ DQG SODFH F &KLOGUHQ¶V SURJUDPV VKRXOG SURPRWH DQ DZDUHQHVV DQG DSSUHFLDWLRQ RI RWKHU FXOWXUHV LQ SDUDOOHO ZLWK WKH FKLOG¶V RZQ FXOWXUDO EDFNJURXQG G &KLOGUHQ¶V SURJUDPV VKRXOG EH ZLGH UDQJLQJ LQ JHQUH DQG FRQWHQW EXW VKRXOG QRW LQFOXGH JUDWXLWRXV VFHQHV RI YLROHQFH DQG VH[ H &KLOGUHQ¶V SURJUDPV VKRXOG EH DLUHG LQ UHJXODU WLPH VORWV ZKHQ FKLOGUHQ DUH DYDLODEOH WR YLHZ DQG RU GLVWULEXWHG WKURXJK ZLGHO\ DFFHVVLEOH PHGLD RU WHFKQRORJLHV I 6XIILFLHQW IXQGV PXVW EH PDGH DYDLODEOH WR PDNH WKHVH SURJUDPV FRQIRUP WR WKH KLJKHVW SRVVLEOH VWDQGDUGV DQG J *RYHUQPHQW SURGXFWLRQ GLVWULEXWLRQ DQG IXQGLQJ RUJDQL]DWLRQV VKRXOG UHFRJQL]H ERWK WKH LPSRUWDQFH DQG YXOQHUDELOLW\ RI LQGLJHQRXV FKLOGUHQ¶V WHOHYLVLRQ DQG WKH VWHSV WR VXSSRUW DQG SURWHFW LW 6(& $OORWPHQW RI $LU WLPH IRU (GXFDWLRQDO &KLOGUHQ¶V 3URJUDPV ² $ PLQLPXP RI ILIWHHQ SHUFHQW RI WKH GDLO\ WRWDO DLU WLPH RI HDFK EURDGFDVWLQJ QHWZRUN VKDOO EH DOORWWHG IRU FKLOG IULHQGO\ VKRZV ZLWKLQ WKH UHJXODU SURJUDPPLQJ RI DOO QHWZRUNV JUDQWHG IUDQFKLVHV RU DV D FRQGLWLRQ IRU UHQHZDO RI EURDGFDVW OLFHQVHV KHUHLQDIWHU WR EH LQFOXGHG DV SDUW RI WKH QHWZRUN¶V UHVSRQVLELOLW\ RI VHUYLQJ WKH SXEOLF 6(& ,PSOHPHQWLQJ 5XOHV DQG 5HJXODWLRQV ² 7KH &RXQFLO LQ FRQVXOWDWLRQ ZLWK DOO DSSURSULDWH JRYHUQPHQW DJHQFLHV DQG QRQ JRYHUQPHQW RUJDQL]DWLRQV VKDOO LVVXH WKH QHFHVVDU\ UXOHV DQG UHJXODWLRQV IRU WKH LPSOHPHQWDWLRQ RI WKLV $FW ZLWKLQ QLQHW\ GD\V DIWHU LWV HIIHFWLYLW\ 5HSXEOLF $FW 1R
SDJH
6(& 3HQDOW\ ² ,Q WKH H[HUFLVH RI LWV DGPLQLVWUDWLYH IXQFWLRQ WKH &RXQFLO VKDOO SHWLWLRQ WKH SURSHU JRYHUQPHQW DJHQFLHV DQG RU DSSURSULDWH VHOI UHJXODWRU\ ERGLHV WR VXVSHQG UHYRNH RU FDQFHO WKH OLFHQVH WR RSHUDWH WHOHYLVLRQ VWDWLRQV IRXQG YLRODWLQJ DQ\ SURYLVLRQ RI WKLV $FW DQG LWV LPSOHPHQWLQJ UXOHV DQG UHJXODWLRQV 6(& 7KH 1DWLRQDO (QGRZPHQW )XQG IRU &KLOGUHQ¶V 7HOHYLVLRQ ² 7KH FUHDWLRQ RI D 1DWLRQDO (QGRZPHQW )XQG IRU &KLOGUHQ¶V 7HOHYLVLRQ KHUHLQDIWHU UHIHUUHG WR DV WKH )XQG LV FUHDWHG IRU WKH SURPRWLRQ RI KLJK VWDQGDUGV RI LQGLJHQRXV SURJUDP GHYHORSPHQW LQ FKLOGUHQ¶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¶V DZDUHQHVV DQG DSSUHFLDWLRQ IRU WKHLU FXOWXUDO LGHQWLW\ QDWLRQDO KHULWDJH DQG VRFLDO LVVXHV WKDW ZLOO LQ WXUQ KHOS WKHP JURZ WR EH SURGXFWLYH DQG QDWLRQDOLVWLF FLWL]HQV F $FFHVV WR WKH )XQG VKDOO EH SURYLGHG E\ WKH &RXQFLO WKURXJK D JUDQW DSSOLFDWLRQ SURFHVV IRU TXDOLILHG SURGXFHUV DQG RUJDQL]DWLRQV ZLWK SURYHQ WUDFN UHFRUG LQ WKH SURGXFWLRQ RI KLJK TXDOLW\ FKLOGUHQ¶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¶V 7HOHYLVLRQ 3URYLGHG 7KDW VXFK JUDQWV FRQWULEXWLRQV RU GRQDWLRQV DUH H[HPSWHG IURP GRQRU¶V DQG GRQHH¶V WD[HV 3URYLGHG IXUWKHU 7KDW WKHVH IXQGV ZLOO EH XVHG VWULFWO\ IRU WKH HQGRZPHQW IXQG 6(& $SSURSULDWLRQV ² )RU WKH LQLWLDO RSHUDWLQJ H[SHQVHV RI WKH &RXQFLO WKH DPRXQW RI )LYH PLOOLRQ SHVRV 3 LV KHUHE\ DSSURSULDWHG RXW RI WKH IXQGV RI WKH 1DWLRQDO 7UHDVXU\ QRW RWKHUZLVH DSSURSULDWHG 7KHUHDIWHU LW VKDOO VXEPLW WR WKH 'HSDUWPHQW RI %XGJHW DQG 0DQDJHPHQW LWV SURSRVHG EXGJHW IRU LQFOXVLRQ LQ WKH *HQHUDO $SSURSULDWLRQV $FW DSSURYHG E\ &RQJUHVV 5HSXEOLF $FW 1R
SDJH
6(& 6HSDUDELOLW\ &ODXVH ² ,I DQ\ SURYLVLRQ RI WKLV $FW LV GHFODUHG XQFRQVWLWXWLRQDO WKH VDPH VKDOO QRW DIIHFW WKH YDOLGLW\ DQG HIIHFWLYLW\ RI WKH RWKHU SURYLVLRQV WKHUHRI 6(& 5HSHDOLQJ &ODXVH ² $OO ODZV GHFUHHV H[HFXWLYH RUGHUV SUHVLGHQWLDO SURFODPDWLRQV UXOHV DQG UHJXODWLRQV RU SDUWV WKHUHRI FRQWUDU\ WR RU LQFRQVLVWHQW ZLWK WKH SURYLVLRQV RI WKLV $FW DUH KHUHE\ UHSHDOHG RU PRGLILHG DFFRUGLQJO\ 6(& (IIHFWLYLW\ &ODXVH ²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
5HSXEOLF $FW 1R
SDJH