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"RVFTUB QSPQFSB QSJNBWFSB ÏT FM UFSNJOJ GJYBU QFS MB QMBUBGPS NB $BNÓ 3BM EF 1SFNJË EF .BS QFS UPSOBS B M BDDJØ %FT EFM KVMJPM EFM M FOUJUBU SF DMBNB MB HSBUVÕUBU EF M BVUPQJTUB $ J DPOWFSUJS MB OBDJPOBM ** FO VO QBTTFJH -B NPCJMJU[BDJØ RVF QSFQBSFO BSB TFSË BUVSBS TJNVMUËOJBNFOU MB DBSSFUFSB M BVUPQJTUB J MB WJB EFM USFO BM TFV QBT QFM #BJY .BSFTNF
- "TTPDJBDJØ "NJDT EF MB 4BMVU IB PSHBOJU[BU VO DVST EF HVJØ QFS B UPUT BRVFMMT JOUFSFTTBUT FO BQSFOESF B FTDSJVSF VO MMBSH NFUSBUHF FO RVBUSF TFUNBOFT &T USBDUB E VO DVST PO FMT NFN CSFT EF 4ÏQUJNP "VEJPWJTVBM FYQMJDBSBO FMT USFUT CËTJDT RVF DBM TBCFS QFS DSFBS VO HVJØ &M DVST ÏT HSBUVÕU DPNFOÎBSË FM E BCSJM J FT EVSË B UFSNF EV SBOU RVBUSF EJTTBCUFT BM NBUJ
-B NBSDB .BZNØ GBCSJDBOU EF DPTNÒUJDB J EFSNPGBSNË DJB QFS B UFSDFST J DBQEBWBO UFS FO NBRVJMMBUHF EF DPMPS IB JOBVHVSBU MFT TFWFT OPWFT JOTUBMtMBDJPOT B #BEBMPOB .BZNØ DPTNÒUJDT UÏ MFT TF WFT PmDJOFT DFOUSBMT MB TFWB QMBOUB E FOWBTBU B #BSDFMPOB -B OPWB QMBOUB B #BEBMPOB FTUË EFEJDBEB ÓOUFHSBNFOU B MB QSPEVDDJØ E FMBCPSBUT
"DUVBMJUBU D JOEE
727 %DGDORQD
1MBOUJMMB#BTF JOEE
727 %DGDORQD
RSLQLÓ
DPE YHX SUÒSLD 1PCSF $BSOFTUPMUFT OJ MB DSJTJ FM SFWJGB
/J CÏ OJ NBMBNFOU TJOØ UPU FM DPOUSBSJ 0EJMÏ "SRVÏ
+PBO 4PMFS J "NJHØ
+B QPEFN EJS RVF BWVJ FM $BSOBWBM OP ÏT FM RVF FSB * FMT RVF TPN EF EFTQSÏT EF MB HVFSSB KB OP FM DPOFJYFN 7BN QBTTBS VOB 2VBSFTNB EF RVBSBOUB BOZT EF GSBORVJTNF FO RVÒ FM $BS OBWBM RVF IBVSJB IBHVU EF QSFDFEJS MB FTUBWB QSPIJCJU /PNÏT FT QPEJFO EJTGSFTTBS FMT OFOT J OFOFT QFM DBSSFS RVF MB HFOU FMT WFJÏT * FM EJNF DSFT EF DFOESB TF MT EFJYBWB BOBS B MB NVOUBOZB B FOUFSSBS MB TBSEJOB BNC VOB DBOZB -B OPTUSB NFNÛSJB OP WB HBJSF NÏT FOMMË "M .VTFV DPOTFSWFO MB GJMNBDJØ E VOB SVB EF $BSOBWBM BMT BOZT USFOUB GFUB QFS FO /ZTTFO GPUÛHSBG CBEBMPOÓ )J BOBWFO DPNQBSTFT EF USFCBMMBEPST J USFCBMMBEPSFT EF GËCSJDB * QBSFV EF DPNQUBS 2VBO WBN SFDVQFSBS MB EFNPDSËDJB NVOJDJQBM WBN JOUFOUBS SFDVQFSBS FM $BSOBWBM QSFOFOU NP EFM EFM GBNØT $BSOBWBM EF 7JMBOPWB QFSÛ RVBO MB USBEJDJØ MPDBM OP FSB HBJSF BSSFMBEB M ÒQPDB EFMT HSBOT $BSOBWBMT KB IBWJB QBTTBU "WVJ FODBSB M "KVOUBNFOU PSHBOJU[B VO NJOTP $BSOBWBM TFHVJOU BRVFTUB USBEJDJØ QPCSB J NBMBM UB 1FSÛ MB #BEBMPOB E BSB BNC NÏT EF IBCJUBOUT QPD UÏ B WFVSF BNC MB E BCBOT RVF FO UFOJB FOUSF J JOEVTUSJBM CVSHFTB NFOFTUSBMB NJTTBJSF J NFOKBDBQFMMBOT 1FSÛ FM $BSOBWBM OP FM WB NBUBS QBT 'SBODP - BOUSPQÛMFH +VMJP $BSP #BSPKB FO FM TFV MMJCSF &M $BSOBWBM EF IP WB EFJYBS QSPV DMBS i&M $BSOBWBM IB NPSU )B NPSU J OP QBT QFS B SFT TVTDJUBS DPN FO BMUSF UFNQT SFTTVTDJUBWB BOVBM NFOU 1FSÛ OP M IB NPSU OJ M BVHF EF M FTQFSJU SFMJHJØT OJ M BDDJØ EF MFT FTRVFSSFT - IB NPSU VOB DPODFQDJØ EF MB WJEB RVF OP ÏT OJ QBHBOB OJ BOUJDSJTUJBOB TJOØ TJNQMFNFOU TFDVMBSJU[BEB E VO MBJDJTNF CVSPDSËUJD RVF WF E VOFT RVBOUFT EÒDBEFT FOSFSF i%FT EFM NPNFOU FO RVÒ UPU FT SFHMBNFOUB mOT J UPU MB EJWFSTJØ TFHVJOU DSJUFSJT QPMÓUJDT J EF SFHJEPSJB UPUT FMT FODBOUT J UVSCVMÒODJFT EFM $BSOBWBM T IBO BDBCBU 1FSRVÒ FM OPTUSF $BSOBWBM FT WVMHVJ P OP ÏT VO mMM EFM DSJTUJBOJTNF .ÏT CFO EJU TFOTF MB JEFB EF 2VBSFTNB OP FYJTUJSJB FM $BSOBWBMw &M CFOWPMHVU +PTFQ . "JOBVE EF -BTBSUF UBNCÏ IP EFJB i$PN B FTQFDUBDMF FM $BSOBWBM QPU TVCTJTUJS 1FSÛ DPN B FTUBU E ËOJN QPQVMBS UÏ QPD GVUVS DPN OP FO UÏ MB 2VBSFTNB E BMUSFT UFNQT 4J SFDVQFSÏTTJN M BVTUFSJUBU RVBSFTNBM QPESJB FYJTUJS M BOUÓEPU EFM $BSOBWBM DPN B SFWVMTJV 4J OP UPU M BOZ TFSË $BSOBWBMw 0 CÏ FO QMFOB DSJTJ FDPOÛNJDB UPU M BOZ QPESJB TFS 2VBSFTNB
0QJOJP JOEE
"SB RVF MFT UBSEFT DPNFODFO B GFS TF NÏT MMBS HVFT J RVF KP DPNFOÎP B SFTQJSBS QFOTBOU RVF QPUTFS TÓ RVF T BDBCBSË BRVFTU IJWFSO RVF FOT EVSB UBOU FN TFNCMB RVF IB BSSJCBU FM NPNFOU EF EFJYBS RVF WPTUÒT UBNCÏ SFTQJSJO USBORVJMT &MT IF WJOHVU B WFVSF DBEB RVJO[F EJFT EVSBOU VO BOZ J NJH PCSJOU VOB mOFTUSB B DBTB TFWB QFS FYQMJDBS MPT FM RVF FN QBTTBWB QFM DBQ %F WFHB EFT BNC CPOB DBSB J NPMU TPWJOU SPOEJOBOU EF MFT QFESFT RVF USPCP QFM DBNÓ &MT IF FYQMJDBU BNC NÏT P NFOZT WFIFNÒODJB FM RVF OP N BHSBEB J UBNCÏ IF WPMHVU DPNQBSUJS BMHVOFT DPTFT E BRVFMMFT RVF FN GBO MB USBWFTTB NÏT QMBOFSB QFS TJ B WPTUÒT UBNCÏ FMT IJ QPEJB GFS * TFOTF FTQFSBS N IP IF USPCBU SFTQPTUFT 4FNQSF BHSBEBCMFT RVF DPOTUJ B M BDUB .PMUT EF WPTUÒT N IBO BUVSBU BMHVO EJB QFS DPNFOUBS BMHVOB DPTB RVF IBWJB EJU QFS BGFHJS T IJ P QFS EJTTFOUJS OF * BJYÛ FTUË CÏ %FJFO FMT DMËTTJDT RVF EF MB QBSBVMB FO OFJY MB MMVN /P QBT EF HSBOT QBSBVMFT OJ EF GSBTFT MBQJEËSJFT /P DBM 4FO[JMMBNFOU EF M JOUFSDBOWJ CFO JOUFODJPOBU EF QVOUT EF WJTUB * QFS BJYÛ FMT IP WVMM BHSBJS 7PTUÒT UBNCÏ IBO PCFSU VOB GJOFTUSB B DBTB NFWB (SËDJFT &ODBSB RVF EF WFHBEFT QFOTP RVF QFS GFS GPSBU MFT DPTFT T IBO EF SFQFUJS UBOUFT WFHBEFT DPN DBMHVJ IF E BENFUSF RVF B NJ FN NPMFTUB FTQF DJBMNFOU RVF NF MFT SFQFUFJYJO J RVF UBNCÏ FN EFTBHSBEB UFOJS MB TFOTBDJØ RVF FN SFQFUFJYP TPCSFUPU QBSMBOU EF DPTFT RVF QFS NÏT RVF MFT WVMHVFN DBOWJBS OP DBOWJBSBO NBJ -B JOÒSDJB ÏT UBO QPEFSPTB RVF BUVSBS MB EFNBOB VO FTGPSÎ UJUËOJD RVF KP OP FN WFJH BNC DPS EF GFS * BRVÓ ÏT PO IF BSSJCBU 1PUTFS NÏT FOEBWBOU FMT WJOESÏ B USVDBS VOB BMUSB WFHBEB BNC BMMÛ RVF FMT UFNQT EF NBM SFDPSE FO EFJFO oFO MMFOHVB GPSBTUFSB BJYÛ TÓ iSFOPWBU GFSWPSw * QPUTFS MMBWPST FN EJSBO RVF KB OP FMT WF EF HVTU RVF FMT FYQMJRVJ SFT 1PUTFS TÓ 1FSÛ ÏT VO SJTD RVF IF EF DØSSFS TJ OP FN WVMM USPCBS GFOU DFSDMFT B MB TÓOJB EF MB SFQFUJDJØ ²T B EJS RVF B QBSUJS E BWVJ BSSJP WFMFT FMT EFJYP SFQPTBS EF MB NFWB DBOUBSFMMB BKVTUP MB mOFTUSB J FMT EFTJUKP NPMU CPO UFNQT * E BWVJ FO RVJO[F OP FOT UPSOBSFN B USPCBS 1PUTFS NÏT FOEBWBOU * NPMUFT HSËDJFT &NÒT FM EF GFCSFS EFM B 3$#
727 %DGDORQD
727 %DGDORQD
1MBOUJMMB#BTF JOEE
DFWXDOLWDW
SHUVRQHV
i$BEB EJB FTUJD JOTQJSBU 4PWJOU TPNOJP DPTFT J MFT GBJH B M FOEFNËw +PBO /JFUP (SBT i(BSHPUw NBH CBEBMPOÓ %FNË EJWFOESFT EF GFCSFS +PBO /JFUP (SBT A(BSHPU SFCSË MB .FODJØ )POPSÓmDB EFM 'FTUJWBM *OUFSOBDJPOBM EF .ËHJB -J $IBOH BM 5FBUSF ;PSSJMMB EF #BEBMPOB "RVFTU CBEBMPOÓ WFÓ E "SUJHBT ÏT DPOTJEFSBU VO EFMT QBSFT EF M JMtMVTJPOJTNF FM QSJNFS EJCVJYBOU FO USFT EJNFOTJPOT EF M ÒQPDB NPEFSOB J VO DSFBEPS E JOTUSVNFOUT RVF EFTQSÏT IFN WJTU B DFOUFOBST EF USVDT EF NËHJB A(BSHPU WB PCSJS MB TFUNBOB QBTTBEB MB TFWB DBTB NVTFV BMT NJUKBOT EF DPNVOJDBDJØ J WBN DPNQSPWBS JO TJUV MFT IBCJMJUBUT E BRVFTU NBH FO UPUT FMT ËNCJUT BSUÓTUJDT &SB KVTUBNFOU B DBTB TFWB PO GB VOT QPDT BOZT FT SFVOJFO QFSJÛEJDBNFOU FMT NBHT NÏT DÒMFCSFT EFM QBÓT
1FSTPOFT JOEE
727 %DGDORQD
" MB TFWB DBTB T IBO SFVOJU BMHVOT EFMT HSBOT NBHT EFM QBÓT "JYÛ ÏT UPU VO MVYF OP * UBOU 1FS DBTB NFWB IBO Q B T T B U F M T N J M M P S T N B H T E &TQBOZB FM -BSJ FM NBH .BHPP M "OESFV FM .BZPSBM FM :VOLF J NPMUT NÏT &OT SF VOÓFN EVFT WFHBEFT B M BOZ J BSSJCBWB B UFOJS QFSTPOFT B DBTB NFWB "SB QFSÛ KB TØD NBTTB HSBO QFS GFS BRVFTUT BDUFT
WBN NBS YBS B USFCBMMBS FO VO DJSD B 4VEBNÒSJDB %V SBOU MB HVFSSB IBWÓFN MMFHJU J BQSÒT VOB NJDB EF NËHJB "M NFV HFSNË TF M WBO FOEVS J KP FN WBJH RVFEBS USFCBMMBOU BM DJSD
"MHVOT E BRVFTUT NBHT IBO GFU TFSWJS MFT TFWFT DSFBDJPOT FO FMT TFVT YPVT /P MJ TBCJB HSFV RVFEBS TF B M PNCSB +P OP FOZPSP SFT EFM QBTTBU )P IF WJTDVU UPU QMFOBNFOU J IF UJOHVU NPNFOUT EF UPU
* OP IJ IB SFT RVF MJ DPTUJ " NJ OP FN DPTUB SFT 4JNQMF NFOU FN TVSU 2VBO FN GBO VOB QSPQPTUB NBJ QSFHVOUP EF RVÒ FT USBDUB 4FNQSF EJD RVF TÓ J QSPV
2VÒ MJ TFNCMB RVF #BEBMPOB UJOHVJ VO 'FTUJWBM EF .ËHJB #BEBMPOB T IP NFSFJY UPU )FN FTUBU TFNQSF VOB DJVUBU PCMJEBEB J QFS B NJ #BEBMPOB IP ÏT UPU
$PN WB TFS RVF WB BQSFOESF B GFS EJCVJYPT FO % +P USFCBMMBWB DPN B EJCVJYBOU J FN WB WFOJS B CVTDBS VO UÒD OJD EF USFT EJNFOTJPOT J FN
$POUFOU EFM QSFNJ RVF MJ EPOFO FO BRVFTU GFTUJWBM -B WFSJUBU ÏT RVF DSFD RVF OP N IP NFSFJYP J OP N IP FTQF SBWB EF DBQ NBOFSB QFSÛ UJOD BNJDT RVF N FTUJNFO NPMU
2VBO DPNFOÎB WPTUÒ FO BJYÛ EF MB NËHJB " M BOZ VO DPQ BDBCBEB MB HVFSSB KP J FM NFV HFSNË
727 %DGDORQD
1FSTPOFT JOEE
WB FOTFOZBS B GFS IP B USBWÏT EFM EJCVJY "JYÓ WBJH BSSJCBS B DSFBS VO BQBSFMM QFS WFVSF PCKFDUFT USJEJNFOTJPOBMT RVF FT WB WFOESF B UPU FM QBÓT J mOT B $VCB * DPN DSFB +P DBEB EJB FTUJD JOTQJSBU "SB TØD WFMM QFSÛ TPWJOU TPNOJP DPTFT J MFT GBJH B M FOEFNË BNC FM RVF TJHVJ DBSUSØ HVJY GFSSP TJMJDPOB FUD
7PTUÒ QSBDUJDB M FTDVMUVSB FM % FM EJCVJY MB NËHJB BNC RVÒ FT RVFEB +P FN RVFEP BNC UPU ²T DPN TJ IBHVÏT EF USJBS FOUSF FMT NFVT mMMT
DFWXDOLWDW
$BSMFT 5PSOFSP
DFWXDOLWDW
3ROÍWLFD #BEBMPOB SFDMBNB NÏT JOWFSTJPOT B MB [POB EFM #FTÛT B 4BOUB $PMPNB TFSWJSË QFS DPPSEJOBS QSPKFDUFT VSCBOÓT UJDT TPDJBMT J FDPOÛNJDT B MB DPODB EFM #FTÛT UPU J RVF EF NPNFOU JOJDJBSË FTUVEJT TPCSF MB NPCJMJUBU EF USBOTQPSU QÞCMJD - BMDBMEF 4FSSB WB FY QMJDBS RVF iMB CBOEB EF #BSDF MPOB DBQ BM -MPCSFHBU IB UJOHVU J UÏ VOB RVBOUJUBU E JOWFSTJPOT VSCBOÓTUJRVFT RVF OPTBMUSFT OP IBWÓFN UJOHVU J BMHVOT IBWÓFN USPCBU B GBMUBSw 1FS BJYÛ M BMDBMEF FTQFSB RVF BRVFTUB PmDJOB TFSWFJYJ QFS iSFFRVJMJCSBSw BRVFTUB [POB EF M ®SFB .FUSPQPMJUBOB &O BRVFTU TFOUJU +PSEJ 4FSSB IB GFU SFGFSÒODJB B MB JNQPSUËODJB RVF UJOESË FO BRVFTU NBSD FM QBTTFJH NBSÓUJN RVF VOJ SË .POUHBU #BEBMPOB 4BOU "ESJË EF #FTÛT J #BSDFMPOB
t - BMDBMEF EF #BSDFMPOB +PSEJ )FSFV BNC M BMDBMEF EF #BEBMPOB +PSEJ 4FSSB
- BMDBMEF EF #BEBMPOB +PSEJ 4FSSB KVOUBNFOU BNC FMT BM DBMEFT EF #BSDFMPOB 4BOUB $PMPNB EF (SBNFOFU .PO UDBEB J 3FJYBD J MB QSJNFS UJ OFOU E BMDBMEF EF 4BOU "ESJË
EF #FTÛT IBO JOBVHVSBU B mOBMT EF MB TFUNBOB QBTTBEB M 0GJDJOB 5ÒDOJDB EFM #FTÛT BNC M PCKFDUJV EF MJEFSBS QSPKFDUFT BM OPSE EF M ®SFB .F USPQPMJUBOB - PmDJOB TJUVBEB
'BMDØ $J6 OP DSFV FODFSUBU VO SFGFSÒOEVN QFS USJBS FM OPN EF M *MMB $FOUSBM &M 1SJNFS 5JOFOU E "MDBMEF EF M "KVOUBNFOU EF #BEBMPOB J QSFTJEFOU EFM HSVQ NVOJDJQBM EF $J6 'FSSBO 'BMDØ OP DSFV BEFRVBU VO SFGFSÒOEVN QP QVMBS QFS USJBS FM OPN EF M *MMB $FOUSBM 3FDPSEFN RVF T IBO QSPQP TBU EJWFSTFT PQDJPOT "MDBMEF 9JGSÏ 1PNQFV 'BCSB *MMB EF $PMPST 1MBÎB EF MB $SFV EF 5FSNF $BO 'SBEFSB $BO
WPM OPN MJ FTUBSJB CÏ 5FOJN MB SFTQPOTBCJMJUBU E FTDPMUBS BSHVNFOUT EF DBMJCSBS OF MFT CPOEBUT EF USPCBS MB NBOFSB RVF OJOHÞ OP TF TFOUJ FYDMÛT P NFOZTUJOHVU FO BRVFTUB EFDJTJØ w 'BMDØ BDBCB FM TFV BS UJDMF B JOUFSOFU SFDPSEBOU RVF ÏT iNÏT USBOTDFOEFOUw FM RVF IJ IBVSË FO FMT NFUSFT RVBESBUT E FRVJQBNFOUT
1VÎB 1MBÎB $BUBMVOZB 1MBÎB $FOUSBM FOUSF E BMUSFT 'BMDØ DSFV RVF FM NÏT JNQPS UBOU ÏT BSSJCBS B VO DPOTFOT J DPOTJEFSB RVF MB DPOTVMUB QP QVMBS OP ÏT MB NJMMPS NBOFSB iFO VO SFGFSÒOEVN TFNQSF IJ IB QFSEFEPST * M PQJOJØ RVF FO TVSUJ OP OFDFTTËSJB NFOU IB EF TFS MB NBKPSJUËSJB 1FSRVÒ B MB NBKPSJB EF MB HFOU O FTUJD TFHVS RVBMTF
*$7 &6J" UPSOB B QSFHVOUBS QFS MFT DPOTVMUFT FYUFSOFT i1FS RVÒ FT WB WBSJBS MB VCJDBDJØ EF MFT DPOTVMUFT 1FS RVJOB SBØ OP FT WB QSPEVJS VOB EJTDVTTJØ BM $POTFMM E "ENJOJTUSBDJØ EF #BEBMPOB 4FSWFJT "TTJTUFO DJBMT 2VJO ÏT FM DBMFOEBSJ QSFWJTU $PN FT SFTPMESBO FMT QSPCMFNFT PDBTJPOBUT B QSPGFTTJPOBMT J VTVBSJT &T QFSESBO MFT TVCWFODJPOT EF 4BMVU w "RVFTUFT TØO BMHV OFT EF MFT QSFHVOUFT RVF IB
1PMÓUJDB JOEE
IBWJB BMUFSOBUJWB QPTTJCMFw &M SFHJEPS EF M "KVOUBNFOU EF #B EBMPOB EFNBOB RVF FT UJOHVJO FO DPNQUF MFT DPOTFRàÒODJFT E BRVFTUB EFDJTJØ DPN MB QPT TJCMF QÒSEVB EF MFT TVCWFODJP OT BUPSHBEFT QFM %FQBSUBNFOU EF 4BMVU EF MB (FOFSBMJUBU %F GFU *$7 &6J" KB WB EFOVODJBS FO FM TFV EJB RVF FM HPWFSO NVOJDJQBM OP FMT IBWJB JOGPSNBU EFM DBOWJ E VCJDBDJØ
BESFÎBU FM SFHJEPS E *$7 &6J" .ËSJVT (BSDJB B MB SFHJEPSB EF 4BMVU MB TPDJBMJTUB 3PTFS $BTUJMMP EFTQSÏT EF OP IBWFS SFCVU SFTQPTUB B M BOUFSJPS FT DSJU RVF WB FOWJBS MJ MB GPSNBDJØ FDPTPDJBMJTUB (BSDJB OP FOUÏO QFS RVÒ BRVFTUFT DPOTVMUFT RVF IBWJFO E BOBS BM CBSSJ EF $BO 4PMFJ FT GBSBO mOBMNFOU BM DBSSFS E FO 1SJN RVBO iFO FM TFV EJB FT WB EJS RVF OP IJ
727 %DGDORQD
- "7 EF 4BOU 3PD EFOVODJB RVF EBSSFSB EFMT WFÕOT BOUJPSBUPSJ IJ IB FM 11 &OSJRVF -BSB NFNCSF EF M "TTPDJBDJØ EF 7FÕOT EF 4BOU 3PD EFOVODJB RVF FMT WFÕOT E "SUJHBT J 4BOU 3PD RVF T IBO NBOJGFTUBU FO DPOUSB E VO PSB UPSJ BM CBSSJ FTUBO NBOJQVMBUT QFM 11 4FHPOT -BSB BMHVOFT BTTPDJBDJPOT DPOUSËSJFT BM DFO USF EF DVMUF TØO VOB UBQBEPSB
EFM 11 RVF QFS TFS VOB FOUJUBU FT CFOFGJDJFO B NÏT EF MFT TVCWFODJPOT EF M "KVOUBNFOU EF #BEBMPOB -FT EFDMBSBDJPOT GFUFT QFS -BSB B MB UFSUÞMJB EF MB SËEJP MPDBM WBO TFS SFTQPT UFT QFM SFHJEPS QPQVMBS .JRVFM +VSBEP RVJ IB BTTFHVSBU RVF QFM RVF FMM DPOFJY OP IJ IB DBQ
DFWXDOLWDW
$BSMFT 5PSOFSP
NJMJUBOU EFM 11 B (FOU EF 4BOU 3PD VOB EF MFT FOUJUBUT RVF IJ IB BM EBSSFSF EF MB 1MBUBGPSNB DPOUSËSJB B M PSBUPSJ E "SUJHBT %F GFU TFHPOT +VSBEP UÏ DPOT UËODJB RVF BMNFOZT VO EFMT JOUFHSBOUT EF M FOUJUBU ÏT NJMJUBOU EF $J6 QBSUJU RVF GPSNB QBSU EFM HPWFSO NVOJDJQBM
7JWFT &3$ EØOB TVQPSU B MB GFTUB EFM GPD 5PU J RVF FM QSFTJEFOU EFM HSVQ NVOJDJQBM E &3$ +BVNF 7JWFT DPOUJOVB EF CBJYB QFS NPUJVT EF TBMVU NBOUÏ DFSUB BDUJWJUBU B USBWÏT EFM TFV CMPD B JOUFSOFU &M SFHJEPS JOEFQFOEFOUJTUB IB WPM HVU EPOBS TVQPSU B MFT FOUJUBUT EF DVMUVSB USBEJDJPOBM J QPQVMBS RVF USFCBMMFO BNC MB QJSPUÒDOJB J FM GPD J RVF B DBVTB E VOB OPSNBUJWB FVSPQFB QPEFO FT UBS FO QFSJMM 7JWFT IB SFDPSEBU MB JNQPSUËODJB RVF UFOFO B MFT 'FTUFT EF .BJH BDUFT DPN FM DPSSFGPD J BTTFHVSB RVF FOUJUBUT DPN #ÒTUJFT EF 'PD J FMT %JB CMFT iNBOUFOFO VOB GVODJØ TP
OP MFTJPOBS iFM OPTUSF ËNCJU DVMUVSBM EFJYBOU OPT NBODBUT E VOT FMFNFOUT FTTFODJBMT J TJOHVMBST EF MB OPTUSB USBEJ DJØ GFTUJWBw 1FS BMUSB CBOEB &3$ IB JNQVMTBU VOB NPDJØ B M "KVOUBNFOU EF #BEBMPOB QFS EFNBOBS VOB SFHVMBDJØ FTQFDÓGJDB RVF HBSBOUFJYJ iFM DPSSFDUF EFTFOWPMVQBNFOUw E BRVFTUB GFTUB EFM GPD 5BNCÏ $BSMFT 4BHVÏT QSFTJEFOU EFM HSVQ NVOJDJQBM E *$7 &6J" IB GFU QÞCMJD FM TFV TVQPSU QFS BEFRVBS MB OPSNBUJWB FVSPQFB iB MB OPTUSB SFBMJUBU EF USBEJDJØ DVMUVSBM DBUBMBOBw
t *NBUHF EFM DPSSFGPD B #BEBMPOB
DJBM EF QSFTFSWBDJØ B M IPSB RVF FTEFWFOFO GPOBNOFUBMT QFS MB JOUFHSBDJØ J MB DPIFTJØ TPDJBMw &M MÓEFS JOEFQFOEFOUJTUB WPM RVF B &VSPQB FT UJOHVJO FO DPNQUF BRVFTUFT RàFTUJPOT QFS UBM EF
*NNJHSBOUT EF #BEBMPOB GPSNFO VO QBSUJU QPMÓUJD 4FHPOT IB QVCMJDBU MB QSFNTB MPDBM JNNJHSBOUT QBLJTUBOFTPT NBSSPRVJOT CPMJWJBOT J QBSB HVBJBOT TPCSFUPU EF MB [POB TVE EF #BEBMPOB IBO GPSNBU VO QBSUJU QPMÓUJD UPU J RVF IBO WPMHVU EFJYBS DMBS RVF FO DBQ DBT WPMFO TFS VOB GPSNBDJØ E JNNJHSBOUT KB RVF OP WPMFO DBVTBS SFCVJH FOUSF FMT WFÕOT
1FS BJYÛ MB JOUFODJØ E BRVFTU HSVQ EF OPVWJOHVUT ÏT DSFBS VO QBSUJU PCFSU B UPUB MB DJV UBEBOJB BVUÛDUPOT JODMPTPT RVF DPNQBSUFJYFO MFT NBUFJYFT JORVJFUVET EF NJMMPSB EFM CBSSJ %F NPNFOU OPNÏT IBO DFMF CSBU VOFT SFVOJPOT BNC NÏT E VOB TFJYBOUFOB E BTTJTUFOUT UPUT OPVWJOHVUT J BMHVOT E FMMT
BNC QSPV BOZT BM QBÓT DPN QFS QPEFS WPUBS FO VOFT FMFDDJPOT 5PU J BJYÓ MB GPSNBDJØ FT USPCB FO VOB GBTF JOJDJBM J OP QSFUFOFO QSFTFOUBS TF B MFT FMFDDJPOT MP DBMT EF %F GFU FO BRVFTU UFNQT T IBO SFVOJU FO OFHPDJT QSJWBUT J FTUBO B M FTQFSB EF MFHBMJU[BS TF J EF USPCBS VO MPDBM PO SFVOJS TF
&M 11 EFNBOB QPEFS DPOUSPMBS MFT PCSFT EFM 'POT E *OWFSTJØ -PDBM &M 1BSUJU 1PQVMBS IB SFDMBNBU RVF VO SFQSFTFOUBOU EFM QBSUJU QVHVJ GPSNBS QBSU EFM HSVQ EF TF HVJNFOU EFMT QSPKFDUFT EF 'POT &TUBUBM E *OWFSTJØ -PDBM BNC RVÒ FT GJOBOÎBSBO NÏT E VOB DJO RVBOUFOB E PCSFT BNC M PCKFDUJV EF GSFOBS M BUVS -B QPSUBWFV EFM 727 %DGDORQD
1PMÓUJDB JOEE
&TUBUBM E *OWFSTJØ -PDBM TJHVJ B MB WFHBEB M PSHBOJTNF FO DBSSFHBU EFM DPOUSPMw 4FHPOT )FSWÈT BNC BRVFTUB BDUJUVE FM HPWFSO EFNPTUSB NBODB EF iUSBOTQBSÒODJBw J RVF iQPTB USB WFTw BM TFHVJNFOU QFS QBSU EFMT JOUFSFTTBUT
(SVQ 1PQVMBS .BSJUYV )FSWÈT OP DSFV BEFRVBU RVF FM TFHVJ NFOU FM GBDJ VO HSVQ EJOT MB +VOUB EF (PWFSO iOP ÏT EF SFCVU RVF MB +VOUB EF (PWFSO MPDBM RVF IB FTUBU M PSHBOJTNF RVF IB EFDJEJU RVJOFT JOWFSTJPOT T IBWJFO EF GFS BNC FMT EJOFST EFM 'POT
DFWXDOLWDW
UHSRUWDWJH
$BSMFT $BSWBKBM
#BEBMPOB JOBVHVSB M FYQPTJDJØ i* UV EF RVÒ WBT w RVF USBDUB MFT ESPHPEFQFOEÒODJFT
- FYQPTJDJØ FTUBSË B MB 1MBÎB 1SFTJEFOU 5BSSBEFMMBT BM CBSSJ EFM (PSH mOT EJVNFOHF EF NBSÎ EF EJMMVOT B EJWFO ESFT EF B IPSFT J FMT EJTTBCUFT J EJVNFOHFT EF B J EF B IPSFT -B SFTUB E IPSBSJ M BDDÏT FTUBSË MJNJUBU B WJTJUFT DPODFSUBEFT BNC DFOUSFT FEVDBUJVT
t -B NPTUSB IB WJBUKBU QFS EJWFSTFT QPCMBDJPOT DBUBMBOFT J BSB BSSJCB B #BEBMPOB
(PSH t 6O FTUVEJ TPCSF MB TB MVU EFMT KPWFT EF B BOZT EFNPTUSB RVF VO EF DBEB USFT QSFO ESPHVFT DPN M BMDPIPM FM UBCBD J P MB NBSJIVBOB 6OB FYQPTJDJØ T JOBVHVSË BRVFTU EJWFOESFT B MB 1MBÎB 1SFTJ EFOU 5BSSBEFMMBT FYQMJDB RVÒ TØO BRVFTUFT ESPHVFT J RVJOT FGFDUFT QSPWPRVFO 4FHPOT VO FTUVEJ RVF T IB GFU EBSSFSBNFOU TØO NPMUT FMT KPWFT E FOUSF J BOZT RVF DPOTVNFJYFO BMDPIPM UBCBD J NBSJIVBOB % FOUSF FMT NÏT EF BMVNOFT FOUSFWJTUBUT FM IBWJB DPOTVNJU NBSJ IVBOB J VO EFMT BMVNOFT EF U E &40 J VO EFMT EF S IBWJFO DPOTVNJU BMDPIPM - BMDPIPM ÏT EPODT MB ESPHB NÏT DPOTVNJEB QFMT KPWFT 1FM RVF GB BM UBCBD VOB EF DBEB USFT QFSTPOFT GVNB * FM DËOOBCJT ÏT MB ESPHB JMtMFHBM NÏT DPOTVNJEB - FYQPTJDJØ RVF T IB QPHVU WFVSF B EJGFSFOUT QPCMBDJPOT DBUBMBOFT J RVF WJTJUB #BEBMP OB FYQMJDB QFS FYFNQMF RVF VOB ESPHB ÏT VOB TVCTUËODJB RVF JOUSPEVÕEB BM DPT BMUFSB FM OPTUSF DPNQPSUBNFOU -FT ESPHVFT DSFFO EFQFOEÒODJB P TJHVJ RVF iFOHBOYFOw J FMT RVF FO QSFOFO OP QPEFO FTUBS
&M3FQPSUBUHF JOEE
WFHBEFT T BDBCB GFOU FM NB UFJY RVF GBO FMT BMUSFT QPUTFS QFS QPS EFM RVF EJSBO
TFOTF " NÏT DSFFO UPMFSËO DJB ÏT B EJS RVF DBEB DPQ FO GB GBMUB NÏT QFS PCUFOJS OF FM NBUFJY FGFDUF &T QBSMB EF EJGFSFOUT UJQVT EF ESPHVFT QFSÛ TPCSFUPU EF M BMDPIPM FM UBCBD J FM DËOOBCJT NÏT DP OFHVU BNC FM OPN EF iQPSSPw - BMDPIPM J FM UBCBD TØO MFHBMT FT QPEFO DPNQSBS FO BMHVOFT CPUJHVFT TJ KB FT UFOFO BOZT QFSÛ FM DËOOBCJT ÏT JMtMFHBM OP TF O QPU QSFOESF FO MMPDT QÞCMJDT OJ TF O QPU DPNQSBS B MFT CPUJHVFT " M FYQPTJDJØ T FYQMJDB RVF EFTQSÏT EF QSFOESF BRVFTUFT ESPHVFT FT QPU FTUBS NPMU DPOUFOU J QBTTBS T IP NPMU CÏ 1FSÛ UBNCÏ QPSUFO QSP CMFNFT #BJYFO FMT SFnFYPT FT QPEFO UFOJS BDDJEFOUT J B MB MMBSHB BGFDUFO MB TBMVU J QSPWPRVFO NBMBMUJFT HSFVT DPN FM DËODFS &M T Q P S S P T Q F S FYF N Q M F QPEFO BSSJCBS B BGFDUBS FM DFSWFMM GBO EJGÓDJM MB DPODFO USBDJØ J UFOJS CPOB NFNÛSJB BNC MB RVBM DPTB QFSKVEJRVFO FMT FTUVEJT - PCKFDUJV EF UPUB BRVFTUB JOGPSNBDJØ ÏT EPOBS FMFNFOUT BMT NÏT KPWFT QFS RVÒ EFTQSÏT TJHVJO FMMT FMT RVF EFDJEFJYJO RVÒ WPMFO GFS 4PWJOU EFDJEJS TF ÏT EJGÓDJM J B
1FS BJYÛ B M FYQPTJDJØ i* UV EF RVÒ WBT w IJ IB VOB BDUJWJUBU FO RVÒ FMT KPWFT IBO EF EF DJEJS QFS RVJOB QPSUB QBTTBS VO FYFSDJDJ FO RVÒ DBEBTDÞ EFNPTUSB RVÒ GBSJB QFS FYFN QMF TJ MJ PGFSJTTJO VO QPSSP &T QPU USJBS QBTTBS QFS MB QPSUB PO T BDDFQUB FM QPSSP P USBWFTTBS MB RVF EJV RVF OP FT WPM GVNBS -B JEFB EF GPOT ÏT RVF UPUIPN UÏ ESFU B USJBS FM TFV DBNÓ J B TFS SFTQFDUBU 6O FYFSDJDJ RVF EFTQSÏT IBVSBO EF USBTMMBEBS B MB WJEB SFBM GPSB EF MB DBSQB PO IJ IB M FYQPTJDJØ % BMUSB CBOEB B #BEBMPOB T FTUBO EFTFOWPMVQBOU DPO KVOUBNFOU BNC MB DPNVOJ UBU FEVDBUJWB J BNC MB SFTUB EF TFSWFJT J FOUJUBUT EF DBEB CBSSJ EJGFSFOUT BDUVBDJPOT QSFWFOUJWFT RVF WBO EFT EF MB GPSNBDJØ J FM TVQPSU BMT UVUPST J QSPGFTTPST B MB EJOBNJU[B DJØ EF QSPHSBNFT FEVDBUJVT QSPNPUPST EF WBMPST J BDUJ UVET TPDJBMT QPTJUJWFT DPN ÏT FM DBT EFMT QSPHSBNFT - "WFOUVSB EF MB 7JEB 1BTF %FDJEFYJ J 1SFTTFD i9RQUBT w "EPMFTDÒODJB J "MDPIPM
727 %DGDORQD
3(3 9(1785$
2&$6,Ï1
2)(57$ 3LVR $ 5()25 0$5 $ 68 *8672 KDELWDFLRQHV \ P SRFRV YHFLQRV %,(1 &2081,&$'2 ¼ 376
&(175( $SDUWDPHQWR HVWXGLR P & 35,0 KDE FRFLQD HTXLSDGD ¿QFD SRFRV YHFLQRV FRQ DVFHQVRU 683(5 =21$ ¼ 376
3LVR $SDUWDPHQWR HQ 672 &5,672 FRQ KDE \ EDOFyQ DLUH IUtR FDORU OLVWR SDUD YLYLU 3$*8( &202 81 $/48,/(5 ¼ 0(6 ¼ 376
%8)$/¬ 3LVR HQ '5 52%(57 KDE H[W FRFLQD \ EDxR VDOyQ F EDOFyQ EXHQD GLVWULE %,(1 &21 6(59$'2 -WR ,QGHSHQGHQFLD ¼ 376
&(1752
$SDUWDPHQWRV 18(926 $ (675( 1$5 GH KDE EDxR F SODWR GXFKD FRFLQD HTXLS F HOHFWURGRP JUDQ VDOyQ P DLUH IULR FDORU ,03(&$%/(6 ¼ 376
/$ 3/$1$
UHFUHDWLYD FRPXQLWDULD EDOFyQ D OD FDOOH EDxR \ FRFLQD UHIRUPDGRV FDOHIDF D DFRQG DVFHQVRU
¼ 376
3LVR FRQ KDE 72'2 5()250$'2 VDOyQ P FRQ EDOFyQ D D \ FDOHIDF DVFHQVRU SDUNHW \ JUHV 683(5 =21$ ¼ 376
672 &5,672
&$6$*(0(6
&DVD 6(0, 18(9$ 7(55$=$6 KDE GREOHV EDxR FRPSOHWR FRFLQD FRPHGRU VDOyQ HVWDU SDUNHW FDOHIDF \ D D /,67$ 3$5$ 9,9,5 ¼ 376
7,$1$
&DVD P FRQ SDWLR P HQ &(1752 -XQWR $\WR K \ EXKDUGLOOD EDxRV \ DVHR FDOHIDF VDOyQ FRQ FKLPHQHD JDUDMH WRGD H[WHULRU PX\ VROHDGD ¼ 376
727 %DGDORQD
'03."5 /06 JOEE
320$5 3LVR 72'2 (;7(5,25 FRQ KDE DOWXUD UHDO FRFLQD GH UREOH DLUH IUtR FDORU WROGRV /,672 3$5$ 9,9,5 ¼ 376
È7,&2 P 7(55$=$ P KDE FRFLQD RI¿FH DLUH IULR FDORU 08< 62/($'2 DVFHQVRU 'LVSRQLEOH -XOLR ¼ 376
3LVR GH P \ KDE 72'2 (;7(5,25 EDxR \ FRFLQD UHIRUPDGRV FDOHIDF VDOyQ P HQ DPELHQWHV EDOFyQ DVFHQVRU ¼ 376
&$1<$'Ï 3LVR 72'2 (;7(5,25 KDE FRFLQD \ EDxR VDOyQ FRQ VDOLGD D EDOFyQ 08< 62/($'2 DOWR \ FRQ DVFHQVRU ¼ 376
%8)$/¬
3LVR KDE ¿QFD FRQ ]RQD
&$1<$'Ï
&$1<$'Ï
/$ 025(5$ 3LVR FRQ KDE GREOHV /,672 3$5$ 9,9,5 FRFLQD FRQ HOHFWURGRPpVWLFRV SDUNHW DOWXUD UHDO %8(1$ =21$ ¼ 376
&(175( 3LVR P -8172 35(6,'(17 &203$1<6 KDE VDOyQ P $ 5()25 0$5 $ 68 *8672 ¼ 376
025(5$
3LVR KDE GREOHV EDxR \ FRFLQD DUUHJODGRV VXHOR GH JUHV FDUSLQWHULD H[WHULRU GH DOXPLQLR /,672 3$5$ (175$5 $ 9,9,5 ¼ 376
3LVR -8172 /$ 5$0%/$ \ 3/$<$ KDE 5()250$'2 FDOHIDF \ DLUH DFRQG 683(5 =21$ /LVWR SDUD YLYLU ¼ 376
3,62 P FRQ KDE FRFLQD \ EDxR VDOyQ P FRQ EDOFyQ ¿QFD FRQ DVFHQVRU -8172 $0%8/$725,2 ¼ 376
/$ &215(5Ë$
È7,&2 'Ò3/(; 6(0, 18(92 P WHUUD]D P KDE GREOHV \ EXKDUGLOOD P FDOHI WHUUD]D DFFHVR VDOyQ \ FRFLQD DVFHQVRU ¼ 376
&DVD D YLHQWRV FRQ SDUFHOD P YLYLHQGD FRQ KDE GREOHV 5()250$'$ SRVLEOH KDFHU SLVFLQD \ DPSOLDU HGL¿FDFLyQ 2&$6,Ï1 ¼ 376
%8)$/¬
%8)$/¬
È7,&2 FRQ P WHUUD]D KDE 727$/0(17( 5()250$'2 FDOHIDF SDUNHW FDOHIDF SXHUWDV ODFDGDV ¿QFD FRQ DVFHQVRU ¼ 376
&$6$*(0(6 3LVR $/72 < &21 $6&(1 625 WRGR H[WHULRU KDE EDxR \ DVHR EDOFyQ WHUUD]D FDOHIDF ]RQD DMDUGLQDGD FRPXQLWDULD ¼ 376
)5217 0$5Ë7,0 %DMRV P -$5'Ë1 P KDE VXLWWH FDOHIDF EDUEDFRD ¿QFD 32&26 $f26 WRGR H[WHULRU ¼ 376
/$ 025(5$
3LVR P 6(0,18(92 KDE 72'2 (;7(5,25 EDxRV \ DVHR VDOyQ P F EDOFyQ WHUUD]D ]RQD FRPXQLWDULD FRQ SLVFLQD SDUNLQJ RSF *5$1'(6 9,67$6 ¼ 376
&$6$ GH P -$5',1 GH P 7(55$=$ P KDE EDxR DVHRV 72'$ (;7(5,25 08< &216(59$'$ ¼ 376
&(175(
&(175(
%8)$/¬
&DVD P EXKDUGLOOD KDE FRFLQD RI¿FH FRQ SDWLR FDOHIDF 683(5 =21$ GLYLGLGD HQ SO EDMD SLVR \ EXKDUGLOOD ¼ 376
3(3 9(1785$
3LVR KDE GREOHV H[W FRFLQD \ EDxR UHIRUP VDOyQ FRQ EDOFyQ %,(1 &2081,&$'2 FDOHI \ D D ,'($/ 3$5(-$6 ¼ 376
&(175( *UDQ SLVR P KDE VDOyQ P LQGHSHQGLHQWH FRQ OODU GH IRF EDOFyQ \ WHUUD]D FDOHI DVFHQVRU SDUNLQJ \ WUDVWHUR LQFO ¼ 376
DFWXDOLWDW
OD VHWPDQD HQ LPDWJHV 3FDVQFSFO RVBUSF CBSRVFT BOUJHVFT
EF QFTDB QFS NBOUFOJS MB JNBUHF NBSJOFSB EF MB QMBUKB CBEBMPOJOB - "KVOUBNFOU B USBWÏT EF M ®SFB EF .FEJ "NCJFOU IB DPM MPDBU RVBUSF CBSRVFT B MB QMBUKB EFMT 1FTDBEPST DFEJEFT QFS MB $POGSBSJB EF QFTDBEPST P QFMT NBUFJYPT QFTDBEPST RVF KB OP T VUJMJU[BWFO QFS USFCBMMBS BNC M PCKFDUJV EF QSFTFSWBS FM WBMPS QBJTBUHÓTUJD EF MFT QMBUHFT EF MB DJVUBU J NBOUFOJS MB JEFOUJUBU J MB JNBUHF NBSJOFSB EF #BEBMPOB -B JOUFODJØ EFM DPOTJTUPSJ FT DPOUJOVBS SFIBCJMJUBOU NÏT FNCBS DBDJPOT
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.ÏT EF NJM BMVNOFT QBSUJDJQFO B MB GFTUB EF MFT FTDPMFT EFM QSPHSBNB 7JV FM QBSD EF MB 4FSSBMBEB EF .BSJOB .ÏT EF NJM BMVNOFT EF FTDPMFT EF #BEBMPOB 4BOUB $PMPNB EF (SBNFOFU .POUDBEB J 3FJYBD J 5JBOB IBO QBSUJDJQBU BRVFTUB TFUNBOB B MB GFTUB FTDPMBS EF MB WVJUFOB FEJDJØ EF MB DBNQBOZB 7JV FM 1BSD EF MB 4FSSBMBEB EF .BSJOB "RVFTUB DFMFCSBDJØ ÏT MB DMPFOEB EFM QSPHSBNB FTDPMBS EJSJHJU B M BMVNOBU EF DJORVÒ EF MFT FTDPMFT RVF QFSUBOZFO BM QBSD
&M $BSOBWBM PNQMF E BMFHSJB J EJTGSFTTFT FMT DBSSFST EF MB DPNBSDB $PN FT USBEJDJPOBM BNC M FOUFSSBNFOU EF MB TBSEJOB T IB BDBCBU MB GFTUJ WJUBU EFM $BSOBWBM &M CPO UFNQT WB BDPNQBOZBS EVSBOU FM DBQ EF TFUNBOB J MB DPNBSDB WB DFMFCSBS M BSSJCBEB EF 4B .BKFTUBU FM 3FJ $BSOFTUPMUFT " #BEBMPOB MB SVB QFMT DBSSFST EF -MFmË J FM $FOUSF J FMT CBMMT EF OJU WBO TFS GPSÎB DPODPSSFHVUT " MB JNBUHF EVFT OPJFT EJTGSFTTBEFT B MB QMBÎB EF MB 1MBOB
4 FTUSFOB MB TÒSJF CBEBMPOJOB $BSSFS EFM
.BS +B T IB FTUSFOBU MB TÒSJF $BSSFS EFM .BS .PMUT CBEBMPOJOT WBO TJOUPOJU[BS 5FMFWJTJØ #BEBMPOB QFS DPOÒJYFS MB GBNÓMJB 7BMMT J WFVSF FM QSJNFS DBQÓUPM % PQJOJPOT DPN TFNQSF O IJ IB QFS UPUT FMT HVTUPT QFSÛ BRVFTU EJWFOESFT B MFT I T FNFUSË FM TFHPO DBQÓUPM BNC FM EFTFOMMBÎ E VO BDDJEFOU J NÏT JOUSJHB
-B4FUNBOB&O*NBUHFT JOEE
727 %DGDORQD
-B 1FOZB DBV FMJNJOBEB EBWBOU M &TUVEJBOUFT BMT RVBSUT EF m OBM EF MB $PQB #BEBMPOB t -B 1FO ZB FT WB WFVSF TPS QSFTB BMT RVBSUT EF m OBM EF MB $PQB EFM 3FJ EBWBOU FM ..5 &TUVEJBOUFT FO VO QBSUJU NPMU JOUFOT J FNPDJPOBOU m OT BM GJOBM J PO MAFRVJQ NBESJMFOZ WB TFS NJMMPS BM m OBM QFS B BDPOTFHVJS MB WJD UÛSJB - &TUVEJBOUFT WB KVHBS VO QBSUJU NPMU TFSJØT J RVBO TFNCMBWB RVF FM %,7 SFTPM ESJB FO MAÞMUJN RVBSU MAFRVJQ DPMtMFHJBM WB BDPOTF HVJU FO VO NJOVU VO QBSDJBM EF B QFS B FNQBUBS B
&M #BEBMPOB UPSOB B HVBOZBS BM $FOUFOBSJ EBWBOU M "UIMFUJD #BMFBS
-AFNPDJØ WB TFS WJHFOU m OT BM m OBM QFSÛ M FTMPWÒ 6ESJI BNC VO QBSFMM EABDDJPOT WB QPTBU QFS EBWBOU BM TFV FRVJQ RVF m OBMNFOU WB HVBOZBS QFS B % BMUSB CBOEB MAFRVJQ *OGBOUJM EF MB 1FOZB FT WB QSPDMBNBS DPN DBNQJØ EF MB .JOJDPQB BM EFSSPUBS FO MB m OBM BM 3FHBM '$ #BSDFMPOB QFM SFTVMUBU EF B &MT KVHBEPST RVF FOUSFOB 1B DP 3FEPOEP WBO HVBOZBS UPUT FMT TFV QBSUJUT -B 1FOZB UPSOB BRVFTU EJV NFOHF I B EJTQVUBS VO QBSUJU EF M "$# EBWBOU FM #SVFTB BM 1BMBV 0MÓNQJD
#BEBMPOB t 7JDUÛSJB BM DFO UFOBSJ EFMT FTDBQVMBUT BDPN QBOZBEB BRVFTU DPQ E VO KPD FTQFDUBDVMBS TPCSFUPU B MB QSJNFSB QBSU &M #BEBMPOB FT WB BCPDBS TPCSF MB NFUB EFGFOTBEB QFS &NJMJP J TJ FO FMT QSJNFST JOT UBOUT M ËSCJUSF OP WB DPOTJEF SBS QFOBM VOB FOUSBEB TPCSF 3VCÏO DBTBEP BM NJOVU VOB QJMPUB SFDPMMJEB QFS #MBODP FT EFTGË E &SOFTUP RVF JSSFNJT TJCMFNFOU GB QFOBM RVBO FM EF 4BOUB $PMPNB FT EJTQPTBWB B BGVTFMMBS MB NFUB DPOUSËSJB 1FOBM RVF QFS TFHPOB WFHBEB B MB UFNQPSBEB WB GBMMBS NFT USF $ËNBSB RVF WB FOWJBS MB QJMPUB BM QBM 1FSÛ FMT EBWBO UFST OP FT WBO EFTBOJNBS J %BWJE 1SBUT GB FM QSJNFS HPM EFM QBSUJU " MB SFQSFTB VO #BEBMPOB DPOTDJFOU EFM TFV BWBOUBUHF BM NBSDBEPS J BM UFSSFOZ EF KPD *TBÕFT BM CBOEFSØ EF DØSOFS WB SFDPMMJS VO SFGÞT J MB TFWB QSFDJTB DFOUSBEB MB WB SFNB UBS BM GPOT EF MB YBSYB FOUSBOU BM QSJNFS QBM "NC FM #BEBMPOB IP WB TFHVJS JOUFOUBOU FODBSB RVF TFOTF FODFSU OJ PDBTJPOT DMB SFT EF HPM &M #BEBMPOB WJTJUB BRVFTU EJVNFOHF B MFT I FM DBNQ EFM 7JMMBSFBM #
3JDLZ 3VCJP FTDPMMJU QFS MB 'JCB DPN FM NJMMPS KPWF FVSPQFV EFM
t *NBUHF EFM QBSUJU FOUSF MB 1FOZB J $# (SBOBEB QFOZB DBU
DFWXDOLWDW
HVSRUWV
#BEBMPOB t 1FS TFHPO BOZ DPOTFDVUJV MB 'JCB &VSPQF IB FTDPMMJU FM CBTF EFM %,7 +PWFOUVU 3JDLZ 3VCJP DPN NJMMPS KVHBEPS KPWF FVSPQFV NFOPS EF BOZT FO VOB WPUBDJØ QPSUBEB B UFSNF QFS VO KVSBU EAFYQFSUT -AIBWFS HVBOZBU BNC FM %,7 MB $PQB EFM 3FJ J MB 6MFC $VQ NÏT MAÒYJU EF MB TFMFDDJØ FO FMT +PDT 0MÓNQJDT EF 9JOB IBO TFSWJU QFSRVÒ FM CBTF EF &M .BTOPV IBHJ FTUBU WPUBU DPN NJMMPS KVHBEPS KPWF FOUSF UPUT FMT FVSPQFVT
t ÁOJD (JNOËT B #BEBMPOB FYDMVTJWBNFOU GFNFOÓ t 4JTUFNB TFOTF IPSBSJT EF B I t 1SPHSBNFT QFSTPOBMJU[BUT t %JWFSTJØ J 3FTVMUBUT t 1JMBUFT t 5POJm DBDJØ $IJ ,VOH 5BOHP
EF NBSÎ %JB EF MB %POB 5SFCBMMBEPSB "QVOUBhU EFM BM J FU SFHBMFN MB NBUSJDVMB
$ 1SJN O QJT 5FMÒGPO CBEBMPOB! NJOVUPT OFU XXX NJOVUPT OFU 727 %DGDORQD
QBH JOEE
HVSDL F
GURCK E
FXOWXUD DJHQGD OOLEUHV PÙVLFD FLQHPHV QRWÍFLHV
$BQ EF TFUNBOB EF .ËHJB *OUFSOBDJPOBM B #BEBMPOB 1PRVFT FOUSBEFT RVFEFO QFS OP EJD DBQ EF MFT RVBUSF (BMFT RVF BSSPEPOFJY J EØOB TFOUJU BM 'FTUJWBM *OUFSOBDJPOBM EF .Ë HJB EF #BEBMPOB Ò .FNPSJBM -J $IBOH &OHVBOZ FM NFTUSF EF DFSJ NÛOJB TFSË FM .BH 'ÒMJY RVF M BOZ QBTTBU KB WB TPSQSFOESF HVBOZBOU FM S 1SFNJ /BDJPOBM EF (SBOT *MtMVTJPOT J FM S 1SF NJ /BDJPOBM 'SBODÒT NBHT JOUFSOBDJPOBMT EFJYBSBO BNC MB CPDB PCFSUB BMT BTTJTUFOUT BM 5FBUSF ;PSSJMMB
%JSFDUF EF M "SHFOUJOB BSSJCB 4FSKP RVF GB NËHJB UFBUSBM BNC MB IJTUÛSJB E VO QSFTPOFS RVF BDPOTFHVFJY RVF MB TFWB DFMtMB OP UJOHVJ MÓNJUT -B .B OJQVMBDJØ BSSJCBSË EF MB NË EFM OPSE BNFSJDË %BOOZ $PMF HVBOZBEPS EFM QSFNJT JOUFSOB DJPOBMT FO MB TFWB DBUFHPSJB
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