Download as PDF, PPTX
Uploaded byDavid Parari
2018-kia-picanto-110300.pdf
This owner's manual provides information on operating and maintaining a new Kia vehicle. It describes vehicle features, specifications, and options to ensure safe operation. The manual is divided into chapters that cover topics like vehicle overview, safety, audio, maintenance, and more. Kia aims to provide accurate and helpful information to customers.
2018-kia-picanto-110300.pdf
- 3. , ,JB .134 (SBDJBTQPSDPOWFSUJSTFFOQSPQJFUBSJPEFVOOVFWPWFI䜷DVMP,JB $PNPGBCSJDBOUFNVOEJBMEFWFI䜷DVMPTDFOUSBEPFOMBGBCSJDBDJ䜽OEF WFI䜷DVMPTEFHSBODBMJEBEBQSFDJPBTFRVJCMF ,JB.PUPSTRVJFSFTVNJa OJTUSBSMFVOBFYQFSJFODJBEFTFSWJDJPBMDMJFOUFRVFFYDFEBTVTFYQFDa UBUJWBT OUPEPT OVFTUSPT DPODFTJPOBSJPT ,JB SFDJCJS䜫 VO USBUP BHSBEBCMF IPTQJUBMBSJPZQSPGFTJPOBMEFQFSTPOBTDVZPDPNQSPNJTPTFCBTBFO OVFTUSBQSPNFTB $VJEBEPDPNPTJGVFSBGBNJMJB 5PEBMBJOGPSNBDJ䜽ORVFTFJODMVZFFOFTUFNBOVBMEFMQSPQJFUBSJPFT QSFDJTBFOFMNPNFOUPEFMBQVCMJDBDJ䜽O4JOFNCBSHP ,JBTFSFTFSWB FMEFSFDIPBSFBMJ[BSDBNCJPTFODVBMRVJFSNPNFOUPQBSBMMFWBSBDBa CPOVFTUSBQPM䜷UJDBEFNFKPSBDPOUJOVBEFMQSPEVDUP TUFNBOVBMTFBQMJDBBUPEPTMPTNPEFMPTEFFTUFWFI䜷DVMPFJODMVZF EFTDSJQDJPOFTZFYQMJDBDJPOFTUBOUPEFMPTFRVJQBNJFOUPTPQDJPOBMFT DPNPEFMPTFRVJQBNJFOUPTFOTFSJF1PSFMMP QPES䜷BFODPOUSBSFOFTa UFNBOVBMJOGPSNBDJ䜽ORVFOPTFDPSSFTQPOEBBMBTFTQFDJGJDBDJPOFT EFTVWFI䜷DVMP,JB %JTGSVUFEFTVWFI䜷DVMPZEFMBFYQFSJFODJB$VJEBEPDPNPTJGVFSBGBNJMJBEF,JB
- 4. (SBDJBTQPSFMFHJSVOWFI䜷DVMP,JB TUFNBOVBMMFNPTUSBS䜫FMNBOUFOJNJFOUPPQFSBUJWPFJOGPSNBDJ䜽OEFTFHVSJEBETPCSFTVOVFWPWFI䜷DVMPTU䜫 BDPNQB䜻BEPEFVOMJCSPEF(BSBOU䜷BZNBOUFOJNJFOUPRVFQSPQPSDJPOBJOGPSNBDJ䜽OJNQPSUBOUFTPCSFUPEBTMBT HBSBOU䜷BTEFTVWFI䜷DVMP,JBMFSVFHBRVFMFBFTUBTQVCMJDBDJPOFTDPOBUFODJ䜽OZRVFTJHBMBTSFDPNFOEBDJPOFT QBSBDPOUSJCVJSBHBSBOUJ[BSVOBPQFSBDJ䜽OQMBDFOUFSBZTFHVSBEFTVWFI䜷DVMPOVFWP ,JBPGSFDFVOBBNQMJBWBSJFEBEEFPQDJPOFT DPNQPOFOUFTZDBSBDUFS䜷TUJDBTQBSBTVTEJTUJOUPTNPEFMPT1PSUBOUP FTQPTJCMFRVFBMHVOPTEFMPTFRVJQPTEFTDSJUPTFOFTUFNBOVBM KVOUPDPOMBTEJTUJOUBTJMVTUSBDJPOFTOPTFBOW䜫MJa EPTQBSBTVWFI䜷DVMP -BJOGPSNBDJ䜽OZFTQFDJGJDBDJPOFTQSPQPSDJPOBEPTFOFTUFNBOVBMTPOBDUVBMFTFOMBGFDIBEFJNQSFTJ䜽O,JBTF SFTFSWBFMEFSFDIPEFBOVMBSPDBNCJBSMBTFTQFDJGJDBDJPOFTPEJTF䜻PFODVBMRVJFSNPNFOUPTJOQSFWJPBWJTPZTJO JODVSSJSFOOJOHVOBPCMJHBDJ䜽O4JUJFOFQSFHVOUBT ,JBSFDPNJFOEBDPNQSPCBSMPFOVODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP %FTEF,JBMFBTFHVSBNPTOVFTUSPDPOUJOVPJOUFS䜳TFORVFDPOEV[DBTVWFI䜷DVMP,JBDPOQMBDFSZTBUJTGBDDJ䜽O 䛳,JB.05034$PSQ 5PEPTMPTEFSFDIPTSFTFSWBEPT2VFEBQSPIJCJEBMBSFa QSPEVDDJ䜽ONFEJBOUFDVBMRVJFSNFEJP UBOUPFMFDUS䜽a OJDPDPNPNFD䜫OJDP JODMVJEBMBGPUPDPQJB HSBCBDJ䜽OP DVBMRVJFSTJTUFNBEFBMNBDFOBNJFOUPZSFDVQFSBDJ䜽O EFJOGPSNBDJ䜽OPUSBOTBDDJ䜽OQBSDJBMPUPUBMTJOMBBVa UPSJ[BDJ䜽OQPSFTDSJUPEF,JB.05034$PSQPSBUJPO *NQSFTPFO$PSFB 1S䜽MPHP JJ
- 5. 5 5BCMBEFDPOUFOJEPT *OUSPEVDDJ䜽O 4VWFI䜷DVMPEFVOWJTUB[P $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP 4JTUFNBEFBVEJP $POEVDJSTVWFI䜷DVMP DUVBDJ䜽OFODBTPEFFNFSHFODJB .BOUFOJNJFOUP TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS 䜗OEJDFBMGBC䜳UJDP * JJJ
- 6.
- 7.
- 8. $ $䜝.064345./6- 2VFSFNPTBZVEBSMFBDPOTFHVJSFMNBa ZPSQMBDFSQPTJCMFNJFOUSBTDPOEVDFTV WFI䜷DVMPMNBOVBMEFMQSPQJFUBSJPQVFa EF BZVEBSMF EFEJGFSFOUFT GPSNBT -F SFDPNFOEBNPT FODBSFDJEBNFOUF RVF TF MFB UPEP FM NBOVBM 1BSB NJOJNJ[BS MPTSJFTHPTEFMFTJPOFTPEFNVFSUF EFa CFMFFSMPTBQBSUBEPTEF%735/$*4 Z5/$*0/4EFFTUFNBOVBM -BTJMVTUSBDJPOFTDPNQMFNFOUBOMBTQBa MBCSBT FO FTUF NBOVBM QBSB USBUBS EF FYQMJDBSEFMBNFKPSGPSNBD䜽NPEJTGSVa UBSEFTVWFI䜷DVMPMMFFSFTUFNBOVBM BQSFOEFMBTDBSBDUFS䜷TUJDBT JOGPSNBDJ䜽O JNQPSUBOUFSFMBDJPOBEBDPOMBTFHVSJEBE ZDPOTFKPTQBSBMBDPOEVDDJ䜽OCBKPEJGFa SFOUFTDPOEJDJPOFTEFMBTDBSSFUFSBT M EJTF䜻P HFOFSBM EF FTUF NBOVBM TF NVFTUSBFOFM䜷OEJDFEFDPOUFOJEPT6UJa MJDFFM䜷OEJDFTJCVTDBVOUFNBPVO䜫SFB FTQFD䜷GJDB5PEBMBJOGPSNBDJ䜽OEFMNBa OVBMFTU䜫PSEFOBEBBMGBC䜳UJDBNFOUFFO FTUF䜷OEJDF $BQ䜷UVMPTFTUFNBOVBMUJFOFDBQ䜷UVa MPT N䜫T VO 䜷OEJDF $BEB DBQ䜷UVMP DPa NJFO[BDPOVOBCSFWFMJTUBEFDPOUFOJa EPTQBSBRVFDPOVOWJTUB[PQVFEBTBa CFSTJFOFTFDBQ䜷UVMPFTU䜫MBJOGPSNBa DJ䜽ORVFOFDFTJUB O FTUF NBOVBM FODPOUSBS䜫 %73a 5/$*4 5/$*0/4 Z /054 TUBT %735/$*4 FTU䜫O QSFQBSBEBT QBSB BVNFOUBSTVTFHVSJEBE%FCFMFFSEFUFa OJEBNFOUFZTFHVJS50%04MPTQSPDFEJa NJFOUPT Z SFDPNFOEBDJPOFT RVF TF NVFTUSBOFOMBT%735/$*4 5/a $*0/4Z/054 %735/$* 6OB %735/$* JOEJDB VOB TJUVBa DJ䜽O RVF QPES䜷B QSPWPDBS EB䜻PT MFa TJPOFTHSBWFTPMBNVFSUFTJTFJHOPa SBMBQSFDBVDJ䜽O 5/$*䜝/ 6OB 5/$*䜝/ JOEJDB TJUVBDJPOFT FO MBT RVF TV WFI䜷DVMP QPES䜷B SFTVMUBS EB䜻BEPTJJHOPSBMBQSFDBVDJ䜽O /05 6OB/05JOEJDBRVFTFMFFTU䜫QSPa QPSDJPOBOEPJOGPSNBDJ䜽OJOUFSFTBOUF P䝄UJM *OUSPEVDDJ䜽O
- 9. 3 326*4*504%-$0.#645*#- .PUPSEFHBTPMJOB 4JOQMPNP 1BSBVSPQB 1BSB PCUFOFS VOSFOEJNJFOUP 䜽QUJNP EFMWFI䜷DVMPMFSFDPNFOEBNPTRVFVUJMJa DF HBTPMJOB TJO QMPNP EF PDUBOPT 30/ ,*PTVQFSJPS 1VFEF VUJMJ[BSTF HBTPMJOB TJO QMPNP EF _PDUBOPT 30/ ,*_ BVOa RVF FTUP QPES䜷B SFEVDJS MJHFSBNFOUF FM SFOEJNJFOUPEFMWFI䜷DVMP /PVTFNF[Da MBTEFDPNCVTUJCMFDPONFUBOPM YDFQUPVSPQB 4VOVFWPWFI䜷DVMP,JBFTU䜫EJTF䜻BEPQBa SBVTBSDPNCVTUJCMFTJOQMPNPEFPDa UBOPT 30/ ,*PTVQFSJPS /PVTF NF[DMBTEFDPNCVTUJCMFDPONFUBOPM 4V OVFWP WFI䜷DVMP FTU䜫 EJTF䜻BEP QBSB PCUFOFSFMN䜫YJNPSFOEJNJFOUPDPO(a 40-*/ 4*/ 1-0.0 BEFN䜫T EF QBSB NJOJNJ[BSMBTFNJTJPOFTEFFTDBQFZMB TVDJFEBEEFMBCVK䜷BEFFODFOEJEP 5/$*䜝/ /6/$64$0.#645*#-$0/1-0a .0MVTPEFDPNCVTUJCMFTDPOQMPa NPFTQFSKVEJDJBMQBSBFMDPOWFSUJEPS DBUBM䜷UJDPZQVFEFEB䜻BSFMTFOTPSEF PY䜷HFOP EFM TJTUFNB EF DPOUSPM EFM NPUPSZBGFDUBSBMDPOUSPMEFFNJTJPa OFT /VODBB䜻BEBBHFOUFTEFMJNQJF[BEFM TJTUFNB EF DPNCVTUJCMF BM EFQ䜽TJUP EF DPNCVTUJCMF RVF TFBO EJGFSFOUFT B MPT FTQFDJGJDBEPT ,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEPQBSB PCUFOFSN䜫TJOGPSNBDJ䜽O %735/$* 䳜 /PTJHBMMFOBOEPEFTQV䜳TEFRVF MB CPRVJMMB TF DJFSSF BVUPN䜫UJDBa NFOUFBMSFQPTUBS 䳜 $PNQSVFCF TJFNQSF RVF FM UBQ䜽O EFM DPNCVTUJCMF FTU䜳 DPMPDBEP EF GPSNB TFHVSB QBSB FWJUBS EFSSBa NFTEFDPNCVTUJCMFFODBTPEFBDa DJEFOUF $POQMPNP TJFTU䜫FRVJQBEP 1BSB BMHVOPT QB䜷TFT TV WFI䜷DVMP FTU䜫 EJTF䜻BEPQBSBVTBSHBTPMJOBDPOQMPNP OUFT EF VUJMJ[BS HBTPMJOB DPO QMPNP ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP Z QSFHVOUBS TJ QVFEF VTBS P OP HBTPMJOB DPOQMPNPFOTVWFI䜷DVMP MPDUBOBKFEFMBHBTPMJOBDPOQMPNPFT FMNJTNPRVFFMEFMBHBTPMJOBTJOQMPa NP (BTPMJOBDPOBMDPIPMPNFUBOPM (BTPIPM VONF[DMBEFHBTPMJOBZFUBOPM BMDPIPM FU䜷MJDP Z HBTPMJOB P HBTPIPM RVFDPOUFOHBONFUBOPM UBNCJ䜳ODPOPa DJEP DPNP BMDPIPM NFU䜷MJDP TF FTU䜫O EJTUSJCVZFOEP FO MVHBS EF MB HBTPMJOB DPOQMPNPZTJOQMPNP /PVUJMJDFHBTPIPMRVFDPOUFOHBN䜫TEF VOEFFUBOPMZOPVTFOJHBTPMJOBOJ HBTPIPM RVF DPOUFOHBO NFUBOPM $VBMa RVJFSB EF FTUPT DPNCVTUJCMFT QPES䜷B QSPWPDBS QSPCMFNBT EF DPOEVDDJ䜽O Z EB䜻BSFMTJTUFNBEFDPNCVTUJCMF FMTJTa UFNBEFDPOUSPMEFMNPUPSZFMTJTUFNB EFDPOUSPMEFFNJTJPOFT %FKFEFVTBSHBTPIPMTJPDVSSFBMH䝄OUJa QPEFQSPCMFNBFOMBDPOEVDDJ䜽O *OUSPEVDDJ䜽O
- 10. -PT EB䜻PT ZMPT QSPCMFNBT EF DPOEVDa DJ䜽O EFM WFI䜷DVMP QPES䜷BO OP FTUBS DVa CJFSUPTQPSMBHBSBOU䜷BTJTPOSFTVMUBEP EF (BTPIPMRVFDPOUFOHBN䜫TEFM EFFUBOPM (BTPMJOB P HBTPIPM RVF DPOUFOHBO NFUBOPM $PNCVTUJCMF DPO QMPNP P HBTPIPM DPOQMPNP 5/$*䜝/ /VODB VTF HBTPIPM RVF DPOUFOHBO NFUBOPM%FKFEFVTBSDVBMRVJFSQSPa EVDUPDPOHBTPIPMRVFEFTDPNQFOTF MBDPOEVDDJ䜽O 0USPTDPNCVTUJCMFT MVTPEFDPNCVTUJCMFTDPNP $PNCVTUJCMF RVF DPOUFOHB TJMJDPOB 4J DPNCVTUJCMF RVF DPOUFOHB ..5 .BOHBOFTP .O DPNCVTUJCMF RVF DPOUFOHB GFSSPDFOP 'F Z 0USPT BEJUJWPT NFU䜫MJDPT DPOUFOJEPT FO FM DPNCVTUJCMF QVFEFO QSPEVDJS EB䜻PTFOFMWFI䜷DVMPZFMNPUPSPDBVa TBS PCTUSVDDJPOFT GBMMPT EF FODFOEJa EP JODPSSFDUB BDFMFSBDJ䜽O DBMBEP EFM NPUPS GVTJ䜽O EFM DBUBMJ[BEPS DPSSPa TJ䜽O BO䜽NBMB SFEVDDJ䜽O EF MB WJEB 䝄UJM FUD EFN䜫T MBMV[EFMJOEJDBEPSEFBWFS䜷B .*- QVFEFJMVNJOBSTF /05 -BHBSBOU䜷BMJNJUBEBEFWFI䜷DVMPOVFa WPOPDVCSFMPTEB䜻PTFOFMTJTUFNB EF DPNCVTUJCMF OJ MPT QSPCMFNBT EF SFOEJNJFOUP QSPWPDBEPT QPS FM VTP EFBMHVOPEFFTUPTDPNCVTUJCMFT 6TPEF.5# ,JB MF SFDPNJFOEB RVF OP VUJMJDF FO TV WFI䜷DVMP DPNCVTUJCMFT RVF DPOUFOHBO N䜫TEF WPMEF.5# .FUJMUFSD CVUJM 䜳UFS DPOUFOJEP EF PY䜷HFOP EFMQFTP -PT DPNCVTUJCMFT RVF DPOUJFOFO N䜫T EFM WPM DPOUFOJEP EF PY䜷HFOP EFMQFTP QVFEFOSFEVDJSFMSFOEJa NJFOUP EFM WFI䜷DVMP Z QSPEVDJS VO CMPa RVFPEFWBQPSPEJGJDVMUBEFTBMBSSBODBS 5/$*䜝/ -BHBSBOU䜷BMJNJUBEBEFWFI䜷DVMPOVFa WP QVFEF OP DVCSJS FM TJTUFNB EF DPNCVTUJCMFZMPTQSPCMFNBTEFSFOa EJNJFOUP QSPWPDBEPT QPS FM VTP EF DPNCVTUJCMFT RVF VTFO NFUBOPM P DPNCVTUJCMFTRVFDPOUFOHBON䜫TEF VO WPMEF.5# DPOUFOJEPEF PY䜷HFOP EFMQFTP /PVTFNFUBOPM O FTUF WFI䜷DVMP OP EFCFO VUJMJ[BSTF DPNCVTUJCMFTDPONFUBOPM BMDPIPMNFa U䜷MJDP TUF UJQP EF DPNCVTUJCMF QVFEF SFEVDJSFMSFOEJNJFOUPEFMWFI䜷DVMPZEBa 䜻BS MPT DPNQPOFOUFT EFM TJTUFNB EF DPNCVTUJCMF FM TJTUFNB EF DPOUSPM EFM NPUPSZFMTJTUFNBEFDPOUSPMEFFNJa TJPOFT EJUJWPTEFDPNCVTUJCMF ,JB MF SFDPNJFOEB RVF VUJMJDF HBTPMJOB TJOQMPNPEFPDUBOPT 30/ ,* P TVQFSJPS QBSB VSPQB P PDUBOPT 30/ ,* 䜷OEJDFBOUJQJDBEB PTVa QFSJPS FYDFQUPVSPQB *OUSPEVDDJ䜽O
- 11. 1BSB MPT DMJFOUFTRVF OP VUJMJDFO IBCJa UVBMNFOUF HBTPMJOB EF CVFOB DBMJEBE RVF JODMVZB BEJUJWPT EF DPNCVTUJCMF Z UFOHBOQSPCMFNBTBMBSSBODBSFMWFI䜷DVa MPPFMNPUPSOPGVODJPOFDPOTVBWJEBE TFSFDPNJFOEBWFSUFSVOCPUFEFBEJUJWP FO FM EFQ䜽TJUP EFM DPNCVTUJCMF DBEB LN QBSB VSPQB VTUSBMJB Z /VFWB ;FMBOEB LN FYDFQUP VSPQB VTUSBMJBZ/VFWB;FMBOEB $IJa OB LN QBSB$IJOB -PTBEJUJWPTZMBJOGPSNBDJ䜽OBDFSDBEF TV VTP FTU䜫O EJTQPOJCMFT FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP/PNF[DMFPUSPTBEJUJWPT 0 0QFSBDJ䜽OFOQB䜷TFTFYUSBOKFSPT 4J WB B DPOEVDJS TV WFI䜷DVMP FO PUSP QB䜷T BTFH䝄SFTFEF 䳜 $VNQMJSUPEBTMBTOPSNBUJWBTSFMBDJPa OBEBTDPOFMSFHJTUSPZDPOMPTTFHVa SPT 䳜 %FUFSNJOBS RVF BMH䝄O DPNCVTUJCMF BEFDVBEPQBSBTVWFI䜷DVMPFTU䜳EJTQPa OJCMF *OUSPEVDDJ䜽O
- 12. 1 130$40%30%+%467)䜗$6-0 /P IBZ VOQFSJPEP FTQFDJBM EF SPEBKF 4JHVJFOEP VOBT TJNQMFT QSFDBVDJPOFT EVSBOUF MPT QSJNFSPT LN QPES䜫 BVNFOUBSFMSFOEJNJFOUP FMBIPSSPZMB WJEB䝄UJMEFTVWFI䜷DVMP 䳜 /PBDFMFSFFMNPUPSBGPOEP 䳜 .JFOUSBTDPOEV[DB NBOUFOHBMBWFMPa DJEBE EFM NPUPS SQN P SFWPMVDJPOFT QPSNJOVUP EFOUSPEFMBTSQN 䳜 /PNBOUFOHBMBNJTNBWFMPDJEBE S䜫a QJEBPMFOUB EVSBOUFMBSHPTQFSJPEPT EF UJFNQP -PT DBNCJPT EF MB WFMPDJa EBEEFMNPUPSTPOOFDFTBSJPTQBSBVO CVFOSPEBKFEFMNPUPS 䳜 WJUFMBTQBSBEBTCSVTDBT FYDFQUPFO FNFSHFODJBT QBSB QFSNJUJS RVF MPT GSFOPTTFBTJFOUFODPSSFDUBNFOUF 䳜 /PBSSBTUSFVOSFNPMRVFEVSBOUFMPT QSJNFSPT LN EF GVODJPOBNJFOa UP *OUSPEVDDJ䜽O
- 13.
- 14. 7 7*4*䜝/(/3-%-953*03 $BQ䜽 Q 'BSP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP Q 'BSP .BOUFOJNJFOUP Q -V[BOUJOJFCMBEFMBOUFSB $BSBDUFS䜷TUJDBTEFTVWFI䜷a DVMP Q -V[BOUJOJFCMBEFMBOUFSB .BOUFOJNJFOUP Q -V[%3- DBSBDUFS䜷TUJDBTEFTVWFI䜷DVMP Q -V[%3- NBOUFOJNJFOUP Q -MBOUBZOFVN䜫UJDPQ -MBOUBZOFVN䜫UJDPQ 3FUSPWJTPSFYUFSJPSQ 5FDIPTPMBSQ TDPCJMMBTEFMQBSBCSJTBT $BSBDUFS䜷TUJDBTEFTVWFI䜷a DVMP Q TDPCJMMBTEFMQBSBCSJTBT .BOUFOJNJFOUP Q 7FOUBOJMMBTQ 'SFOBEBEFFNFSHFODJBBVU䜽OPNBEFUJQPSBEBS Q 4VWFI䜷DVMPEFVOWJTUB[P
- 15. #MPRVFPEFMBTQVFSUBT Q 5BQBEFMMFOBEPEFDPNCVTUJCMFQ 1JMPUPUSBTFSPDPNCJOBEP .BOUFOJNJFOUP Q 5FSDFSBMV[EFMGSFOP .BOUFOJNJFOUP Q 1PSU䜽OUSBTFSP Q OUFOB Q $䜫NBSBEFWJTJ䜽OUSBTFSB Q 4JTUFNBEFBZVEBBMFTUBDJPOBNJFOUPUSBTFSPQ -V[EFNBSDIBBUS䜫T NBOUFOJNJFOUP Q -V[BOUJOJFCMBUSBTFSB NBOUFOJNJFOUP Q TDPCJMMBTEFMBMVOBUSBTFSB $BSBDUFS䜷TUJDBTEFTV WFI䜷DVMP Q TDPCJMMBTEFMBMVOBUSBTFSB .BOUFOJNJFOUP Q 4VWFI䜷DVMPEFVOWJTUB[P
- 16. 7 7*45(/3-*/53*03 .BOJMMBJOUFSJPSEFMBQVFSUBQ #PU䜽OEFCMPRVFPEFTCMPRVFPEFQVFSUBQ *OUFSSVQUPSEFQMFHBEPEFMPTFTQFKPTSFUSPWJTPSFT FYUFSJPSFTQ *OUEFDPOUSPMEFMPTSFUSPWJTPSFT Q *OUFSSVQUPSEFCMPRVFPEFMDJFSSFDFOUSBMJ[BEP Q #PU䜽OEFCMPRVFPEFMPTFMFWBMVOBTFM䜳DUSJDPT Q *OUFSSVQUPSFTEFMFMFWBMVOBTFM䜳DUSJDP Q 1BMBODBEFBQFSUVSBEFMDBQ䜽Q 1BMBODBEFBQFSUVSBEFMBUBQBEFMMFOBEPEFDPNa CVTUJCMFQ 7PMBOUFEFEJSFDDJ䜽OQ $POUSPMEFJODMJOBDJ䜽OEFMWPMBOUFEFEJSFDDJ䜽O Q 1BOFMEFGVTJCMFTJOUFSJPSQ 1FEBMEFMGSFOP Q TJFOUPQ %JTQPTJUJWPEFOJWFMBDJ䜽OEFGBSPT Q #PU䜽O4$0'' Q *OUFSSVQUPS51.445Q 4VWFI䜷DVMPEFVOWJTUB[P
- 17. 7 7*45(/3-%-1/-%*/4536./504 5BCMFSPEFJOTUSVNFOUPTQ $MBYPOQ JSCBHGSPOUBMEFMDPOEVDUPSQ $POUSPMEFMV[JOUFSNJUFOUFT Q -JNQJBQBSBCSJTBT-BWBQBSBCSJTBT Q *OUFSSVQUPSEFFODFOEJEP Q #PU䜽O/(*/45354501 JOJDJPQBSBEBEFMNPa UPS Q $POUSPMEFMTJTUFNBEFBVEJPEFMWPMBOUFEFEJSFDDJ䜽O Q $POUSPMEFMBWFOUBOB-$%Q $POUSPMEFDSVDFSP Q $POUSPMEFM䜷NJUFEFWFMPDJEBEQ *OUFSSVQUPSEFMBTMVDFTEFFNFSHFODJB Q 4JTUFNBEFBVEJP Q 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSNBOVBM Q 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSBVUPN䜫UJDP Q ODFOEFEPSQ 1VFSUP69Z64# Q 5PNBEFDPSSJFOUF Q JSCBHGSPOUBMEFMBDPNQB䜻BOUF Q (VBOUFSB Q 1BMBODBEFDBNCJPT.5 Q 1BMBODBEFWFMPDJEBEFT5Q $BMFGBDDJ䜽OEFMBTJFOUP Q 4VWFI䜷DVMPEFVOWJTUB[P
- 18. *OUFSSVQUPSEFMBDBMFGBDDJ䜽OEFMWPMBOUFEFEJSFDDJ䜽O Q #PU䜽O*4( *EMF4UPQBOE(P BQBHBEPZBSSBORVF FOSBMFOU䜷 Q $PNQBSUJNFOUPFOMBDPOTPMBDFOUSBMQ 1PSUBWBTPT Q 4VWFI䜷DVMPEFVOWJTUB[P
- 19. $ $0.135*./50%-.0503 %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q 5BQBEFMBCPDBEFMMFOBEPEFBDFJUFEFMNPUPS Q %FQ䜽TJUPEFMM䜷RVJEPEFGSFOPTFNCSBHVF Q 'JMUSPEFBJSF Q 'JMUSPEFBJSF Q $BKBEFGVTJCMFTQ 5FSNJOBMOFHBUJWPEFMBCBUFS䜷BQ 5FSNJOBMQPTJUJWPEFMBCBUFS䜷BQ 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPSQ 5BQ䜽OEFMSBEJBEPS Q %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJTBT Q 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEPEFMBDBKBEF DBNCJPTBVUPN䜫UJDBQ 4VWFI䜷DVMPEFVOWJTUB[P
- 20. %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q 5BQBEFMBCPDBEFMMFOBEPEFBDFJUFEFMNPUPS Q %FQ䜽TJUPEFMM䜷RVJEPEFGSFOPTFNCSBHVF Q 'JMUSPEFBJSF Q 'JMUSPEFBJSF Q $BKBEFGVTJCMFTQ 5FSNJOBMOFHBUJWPEFMBCBUFS䜷BQ 5FSNJOBMQPTJUJWPEFMBCBUFS䜷BQ 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPSQ 5BQ䜽OEFMSBEJBEPS Q %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJTBT Q 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEPEFMBDBKBEF DBNCJPTBVUPN䜫UJDBQ 4VWFI䜷DVMPEFVOWJTUB[P
- 21. %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS Q 5BQBEFMBCPDBEFMMFOBEPEFBDFJUFEFMNPUPS Q %FQ䜽TJUPEFMM䜷RVJEPEFGSFOPTFNCSBHVF Q 'JMUSPEFBJSF Q 'JMUSPEFBJSF Q $BKBEFGVTJCMFTQ 5FSNJOBMOFHBUJWPEFMBCBUFS䜷BQ 5FSNJOBMQPTJUJWPEFMBCBUFS䜷BQ 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPSQ 5BQ䜽OEFMSBEJBEPS Q %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJTBT Q 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEPEFMBDBKBEF DBNCJPTBVUPN䜫UJDBQ %FQ䜽TJUPEFHBTPMJOB Q 4VWFI䜷DVMPEFVOWJTUB[P
- 22. TJFOUPT KVTUFEFMBTJFOUPEFMBOUFSP 3FQPTBDBCF[BT #PMTJMMPEFMSFTQBMEP KVTUFEFMBTJFOUPUSBTFSP $JOUVSPOFTEFTFHVSJEBE 4JTUFNBEFTVKFDJ䜽OEFMDJOUVS䜽OEFTFHVSJEBE $JOUVS䜽OEFTFHVSJEBEDPOQSFUFOTPS 1SFDBVDJPOFTEFMDJOUVS䜽O $VJEBEPEFMPTDJOUVSPOFT 4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT $34 /VFTUSBSFDPNFOEBDJ䜽OMPTOJ䜻PTTJFNQSFFO MPTBTJFOUPTUSBTFSPT 4FMFDDJ䜽OEFVOTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT $34 *OTUBMBDJ䜽OEFVOTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT $34 ODMBKF*40'*9ZBODMBKFEFDPSSFBTVQFSJPS TJTa UFNBEFBODMBKFT*40'*9 QBSBOJ䜻PT JSCBHTJTUFNBEFTVKFDJ䜽OTVQMFNFOUBSJP 'VODJPOBNJFOUPEFMTJTUFNBEFBJSCBH 5FTUJHPEFBEWFSUFODJBEFMBJSCBH $PNQPOFOUFTZGVODJPOFTEFM434 JSCBHEFMBOUFSPEFMBDPNQB䜻BOUFZEFMDPOEVDUPS JSCBHMBUFSBM JSCBHEFDPSUJOB 䜉1PSRV䜳OPTFIBEFTQMFHBEPFMBJSCBHEVSBOUF VOBDPMJTJ䜽O $POEJDJPOFTEFJOGMBEPZEFTJOGMBa EPEFMBJSCBH $VJEBEPEFM434 1SFDBVDJPOFTEFTFHVSJEBEBEJDJPOBMFT MB䜻BEJSFRVJQBNJFOUPPNPEJGJDBSFMEJTQPTJUJa WPEFMBJSCBHEFTVWFI䜷DVMP UJRVFUBEFBEWFSUFODJBEFMBJSCBH $ $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 23. 4*/504 TJFOUPEFMDPOEVDUPS )BDJBEFMBOUFZIBDJBBUS䜫T 䜋OHVMPEFMSFTQBMEP MUVSBEFMDPK䜷OEFMBTJFOUP 3FQPTBDBCF[BT TJFOUPEFMBDPNQB䜻BOUF )BDJBEFMBOUFZIBDJBBUS䜫T 䜋OHVMPEFMSFTQBMEP 3FQPTBDBCF[BT TJFOUPUSBTFSP 3FQPTBDBCF[BT 1MFHBEPEFMSFTQBMEP %735/$* 0CKFUPTTVFMUPT -PTPCKFUPTTVFMUPTFOMB[POBEFMPT QJFT EFM DPOEVDUPS QVFEFO JOUFSGFSJS DPOMBPQFSBDJ䜽OEFMPTQFEBMFT QVa EJFOEP DBVTBS VO QPTJCMF BDDJEFOUF /PDPMPRVFOBEBEFCBKPEFMPTBTJFOa UPTEFMBOUFSPT TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 24. %735/$* 1PTJDJ䜽OWFSUJDBMEFMBTJFOUP $VBOEP WVFMWBB DPMPDBS FM SFTQBMEP FOQPTJDJ䜽OWFSUJDBM TVK䜳UFMPZWVFMWB B DPMPDBSMP EFTQBDJP BTFHVS䜫OEPTF EFRVFOPIBZBN䜫TPDVQBOUFTBMSFa EFEPSEFMBTJFOUP4JTFWVFMWFBDPa MPDBSFMSFTQBMEPTJOIBCFSMPNBOUFa OJEP Z DPOUSPMBEP FM SFTQBMEP EFM BTJFOUP QVFEF TBMUBS IBDJB EFMBOUF QSPWPDBOEPMFTJPOFTBMBQFSTPOBRVF FTHPMQFBEBQPSFMBTJFOUP %735/$* 3FTQPOTBCJMJEBE EFM DPOEVDUPS TPCSFMPTBDPNQB䜻BOUFT MDPOEVDJSVOWFI䜷DVMPDPOFMSFTQBMa EP SFDMJOBEP QVFEF QSPWPDBS HSBWFT MFTJPOFT FO DBTP EF BDDJEFOUF 4J FO DBTPEFBDDJEFOUFFMBTJFOUPFTU䜫SFa DMJOBEP MBT DBEFSBT EF MPT BDPNQBa 䜻BOUFTQVFEFOEFTMJ[BSTFQPSEFCBKP EFMBCBOEBJOGFSJPSEFMDJOUVS䜽OBQMJa DBOEPHSBOGVFS[BTPCSFFMBCEPNFO EFTQSPUFHJEP TUP QVFEF QSPWPDBS HSBWFT MFTJPOFT M DPOEVDUPS EFCF $POUJO䝄B $POUJO䝄B BDPOTFKBSMF BM BDPNQB䜻BOUF RVF NBOUFOHB FM SFTQBMEP FO QPTJDJ䜽O WFSUJDBMNJFOUSBTFMWFI䜷DVMPFTU䜳FO NPWJNJFOUP %735/$* /P VUJMJDF OJOH䝄O DPK䜷O EFM BTJFOUP RVF SFEV[DB MB GSJDDJ䜽O FOUSF FM BTJFOUPZFMQBTBKFSPODBTPEFBDa DJEFOUF P GSFOBEB CSVTDB MB DBEFSB EFM QBTBKFSP QPES䜷B EFTMJ[BSTF QPS EFCBKPEFMBCBOEBJOGFSJPSEFMDJOUVa S䜽O EF TFHVSJEBE MMP QSPEVDJS䜷B MFa TJPOFT JOUFSOBT HSBWFT P NPSUBMFT ZB RVF FM DJOUVS䜽O EF TFHVSJEBE OP QPES䜷BGVODJPOBSDPSSFDUBNFOUF %735/$* TJFOUPEFMDPOEVDUPS $POUJO䝄B $POUJO䝄B 䳜 /VODB JOUFOUF BKVTUBS FM BTJFOUP NJFOUSBT FM WFI䜷DVMP TF FTU䜫 NPa WJFOEP1PES䜷BDBVTBSMBQ䜳SEJEBEF DPOUSPM Z QSPWPDBS VO BDDJEFOUF DPO SFTVMUBEP EF MFTJ䜽O NVFSUF P EB䜻PTNBUFSJBMFT 䳜 /PQFSNJUBRVFOBEBJOUFSGJFSBDPO MBQPTJDJ䜽OOPSNBMEFMSFTQBMEP-PT FMFNFOUPTRVFNPMFTUFODPOUSBFM SFTQBMEP P RVF QVFEBO JOUFSGFSJS DPOFMCMPRVFPEFMSFTQBMEPQVFEFO QSPWPDBS HSBWFT MFTJPOFT FO DBTP EFQBSBEBCSVTDBPEFDPMJTJ䜽O 䳜 $POEV[DB TJFNQSF DPO FM SFTQBMEP FO QPTJDJ䜽O WFSUJDBM Z MB CBOEB JOa GFSJPS EFM DJOUVS䜽O BKVTUBEB Z TPa CSF MBT DBEFSBT TUB FT MB NFKPS QPTJDJ䜽O QBSB QSPUFHFSMF FO DBTP EFBDDJEFOUF 䳜 1BSBFWJUBSMFTJPOFTJOOFDFTBSJBTZ HSBWFT EFCJEP BM BJSCBH TJ䜳OUFTF TJFNQSF MP N䜫T MFKPT QPTJCMF EFM WPMBOUF NBOUFOJFOEP VOB QPTJDJ䜽O D䜽NPEBQBSBDPOUSPMBSFMWFI䜷DVMP -F SFDPNFOEBNPT RVF TV CBSCJMMB FTU䜳 BM NFOPT B NN EF EJTa UBODJBEFMWPMBOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 25. %735/$* 3FTQBMEPTUSBTFSPT 䳜 MSFTQBMEPUSBTFSPEFCFFTUBSDPa SSFDUBNFOUFCMPRVFBEP 4J OP MPT BDPNQB䜻BOUFT Z MPT PCKFUPT QVFa EFO TBMJS MBO[BEPT IBDJB EFMBOUF QSPWPDBOEP TFSJBT MFTJPOFT P MB NVFSUFFODBTPEFVOBGSFOBEBSFa QFOUJOBPEFDPMJTJ䜽O 䳜 M FRVJQBKF Z MBT PUSBT DBSHBT EFa CFODPMPDBSTFEFGPSNBQMBOBFOMB [POB EF DBSHB 4J MPT PCKFUPT TPO HSBOEFT QFTBEPTZEFCFOTFSBQJa MBEPT EFCFDPMPDBSTFEFGPSNBTFa HVSB O OJOHVOB DJSDVOTUBODJB MB DBSHBBQJMBEBEFCFTVQFSBSMBBMUVa SB EF MPT SFTQBMEPT 4J OP TJHVJFTF FTUBTBEWFSUFODJBTQPES䜷BTVGSJSMFa TJPOFTPMBNVFSUFFODBTPEFVOB GSFOBEBSFQFOUJOB DPMJTJ䜽OPWVFMa DP 䳜 /JOH䝄O BDPNQB䜻BOUF EFCF NPOa UBSTFFOMB[POBEFDBSHB OJTFOa UBSTF OJBDPTUBSTFDPOMPTSFTQBMa EPTQMFHBEPTNJFOUSBTTFFTU䜫NPa WJFOEPFMWFI䜷DVMP5PEPTMPTBDPNa QB䜻BOUFT EFCFO FTUBS DPSSFDUBa NFOUFTFOUBEPTZTVKFUPTEVSBOUF MBDPOEVDDJ䜽O $POUJO䝄B $POUJO䝄B 䳜 $VBOEPWVFMWBBBKVTUBSFMSFTQBMEP BMBQPTJDJ䜽OWFSUJDBM BTFH䝄SFTFEF RVF FTU䜫 DPSSFDUBNFOUF FOHBOa DIBEP NPWJ䜳OEPMP IBDJB EFMBOUF Z IBDJBBUS䜫T 䳜 1BSB FWJUBS RVFNBEVSBT OP SFUJSF MB NPRVFUB EF MB [POB EF DBSHB -PTEJTQPTJUJWPTEFDPOUSPMEFFNJa TJPOFTTJUVBEPTEFCBKPEFMTVFMPEF EJDIB[POBHFOFSBOBMUBTUFNQFSBa UVSBT %735/$* 5SBTFMBKVTUFEFMBTJFOUP DPNQSVFa CF RVF FTU䜫 GJSNFNFOUF FODMBWBEP QBSBFWJUBSRVFTFNVFWBFMBTJFOUP IBDJBEFMBOUFPIBDJBBUS䜫TTJOVUJMJa [BS MB QBMBODB EF EFTFODMBWBNJFOUP 6O NPWJNJFOUP CSVTDP P JOFTQFSBEP EFMBTJFOUPEFMDPOEVDUPSQVFEFDBVa TBSMBQ䜳SEJEBEFDPOUSPMZQSPWPDBS VOBDDJEFOUF %735/$* 䳜 YUSFNFMBTQSFDBVDJPOFTQBSBFWJa UBSFOHBODIBSTFMBTNBOPTVPUSPT PCKFUPT FO MPT NFDBOJTNPT EFM BTJFOUPDVBOEPFTUFTFNVFWB 䳜 /P EFKF FM NFDIFSP FO FM TVFMP OJ TPCSF VO BTJFOUP M BDDJPOBS FM BTJFOUPQPES䜷BTBMJSHBTEFMNFDIFa SPZQSPWPDBSVOJODFOEJP 䳜 4J IBZ PDVQBOUFT FO MPT BTJFOUPT USBTFSPT UFOHB DVJEBEP BM BKVTUBS MBQPTJDJ䜽OEFMBTJFOUPEFMBOUFSP 䳜 YUSFNF MBT QSFDBVDJPOFT BM TBDBS QFRVF䜻PTPCKFUPTBUSBQBEPTEFCBa KPEFMPTBTJFOUPTPFOUSFFMBTJFOa UPZMBDPOTPMBDFOUSBM1PES䜷BTVa GSJS DPSUFT P MFTJPOBSTF MBT NBOPT EFCJEP B MPT CPSEFT BGJMBEPT EFM NFDBOJTNPEFMBTJFOUP 5/$*䜝/ 1SFDBVDJ䜽O DPO MBT GVOEBT EF MPTBTJFOUPT $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 26. $POUJO䝄B 䳜 1SPDFEB DPOBUFODJ䜽O BM SFBMJ[BS USBCBKPT FO MBT GVOEBT EF MPT BTJFOUPT 4F QPES䜷B QSPWPDBS VO DPSUPDJSDVJUPPVOBEFTDPOFYJ䜽O MP RVFQPES䜷BPDBTJPOBSSVJEPT EB䜻PT FO FM TJTUFNB EF WFOUJMBDJ䜽O Z VO QPTJCMFJODFOEJP 䳜 1SFTUFBUFODJ䜽OBMPTDBCMFTZBMBT TBMJEBT EF BJSF BM DPMPDBS MB GVOEB EF MPT BTJFOUPT P BM DVCSJS MPT BTJFOUPTDPOVOBGVOEBEFQM䜫TUJDP 4FQPES䜷BQSPEVDJSVODPSUPDJSDVJUP RVFQPES䜷BQSPWPDBSVOJODFOEJP $BSBDUFS䜷TUJDBTEFMPTBTJFOUPT EFDVFSP 䳜 MDVFSPTFFMBCPSBBQBSUJSEFMBQJFM EFVOBOJNBMRVFQBTBQPSVOQSPDFTP FTQFDJBMQBSBRVFQVFEBVTBSTF%FCJa EP B RVF TF USBUB EF VOB TVTUBODJB OBUVSBM DBEBQJF[BEJGJFSFFOHSPTPSP EFOTJEBE -BT BSSVHBT QPES䜷BO BQBSFDFS DPNP SFTVMUBEPOBUVSBMEFRVFMBQJFMDFEBP TFFODPKBFOGVODJ䜽OEFMBUFNQFSBUVa SBZMBIVNFEBE 䳜 MBTJFOUPTFIBGBCSJDBEPDPOVOUFKJa EP FM䜫TUJDP QBSB JODSFNFOUBS FM DPOa GPSU 䳜 -BTQJF[BTRVFFTU䜫OFODPOUBDUPDPO FM DVFSQP TPO DVSWBEBT Z FM 䜫SFB EF TPQPSUFMBUFSBMFTFMFWBEB MPRVFQSPa QPSDJPOB FTUBCJMJEBE Z DPOGPSU FO MB DPOEVDDJ䜽O 䳜 4FQPES䜷BOGPSNBSBSSVHBTEFNBOFSB OBUVSBMEFCJEPBMVTP/PTFUSBUBEF VOEFGFDUPEFMQSPEVDUP 5/$*䜝/ 䳜 -BHBSBOU䜷BOPDVCSFMBTBSSVHBTZ BCSBTJPOFTRVFTFGPSNBOEFNBa OFSBOBUVSBMEFCJEPBMVTP 䳜 -PTDJOUVSPOFTDPOBDDFTPSJPTNFa U䜫MJDPT MBTDSFNBMMFSBTPMBTMMBWFT FO FM JOUFSJPS EFM CPMTJMMP QPTUFSJPS QPES䜷BOEB䜻BSFMUFKJEPEFMBTJFOUP 䳜 TFH䝄SFTF EF OP IVNFEFDFS FM BTJFOUP1PES䜷BBMUFSBSMBOBUVSBMFa [BEFMDVFSPOBUVSBM 䳜 -PTWBRVFSPTPMBSPQBRVFQVFEF EFTUF䜻JS QPES䜷BO NBODIBS MB TVa QFSGJDJF EFM UFKJEP RVF DVCSF MPT BTJFOUPT KVTUFEFMBTJFOUPEFMBOUFSP )BDJBEFMBOUFZIBDJBBUS䜫T 1BSB NPWFS FM BTJFOUP IBDJB EFMBOUF Z IBDJBBUS䜫T 5JSF IBDJB BSSJCB EF MB QBMBODB EF BKVTUFEFEFTMJ[BNJFOUPEFMBTJFOUP ZNBOU䜳OHBMBUJSBEB %FTMJDFFMBTJFOUPBMBQPTJDJ䜽ORVF EFTFF 4VFMUF MB QBMBODB Z BTFH䝄SFTF EF RVFFMBTJFOUPFTU䜫CMPRVFBEPFOTV TJUJP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 27. KVTUFFMBTJFOUPBOUFTEFMBDPOEVDDJ䜽O ZBTFH䝄SFTFEFRVFFMBTJFOUPFTU䜳DPa SSFDUBNFOUFCMPRVFBEPJOUFOUBOEPNPa WFSMP IBDJB EFMBOUFZ IBDJB BUS䜫T TJO VTBSMBQBMBODB4JFMBTJFOUPTFNVFWF FTRVFOPFTU䜫CMPRVFBEPDPSSFDUBNFOa UF 䜋 䜋OHVMPEFMSFTQBMEP 1BSBSFDMJOBSFMSFTQBMEP *ODM䜷OFTFMJHFSBNFOUFIBDJBEFMBOUF Z MFWBOUF MB QBMBODB EF SFDMJOBDJ䜽O EFMSFTQBMEP 3FDVFTUF DPO DVJEBEP FM BTJFOUP Z BKVTUFFMSFTQBMEPEFMBTJFOUPFOMB QPTJDJ䜽ORVFEFTFB 4VFMUF MB QBMBODB Z BTFH䝄SFTF EF RVF FM SFTQBMEP FTU䜫 CMPRVFBEP FO TVMVHBS -BQBMBODB%#SFHSFTBS BTVQPTJDJ䜽OPSJHJOBMQBSBCMPRVFBS FMSFTQBMEP MUVSBEFMDPK䜷OEFMBTJFOUP TJFTU䜫 FRVJQBEP QBSBFMBTJFOUPEFM DPOEVDUPS 1BSB DBNCJBS MB BMUVSB EFM DPK䜷O EFM BTJFOUP QVMTFMBQBMBODBIBDJBEFMBOUFZ IBDJBBUS䜫TRVFFTU䜫VCJDBEBFOFMFYUFa SJPSEFMDPK䜷OEFMBTJFOUP 䳜 1BSBCBKBSFMDPK䜷OEFMBTJFOUP QVMTFMB QBMBODBIBDJBBCBKPWBSJBTWFDFT 䳜 1BSBFMFWBSFMDPK䜷OEFMBTJFOUP QVMTF MBQBMBODBIBDJBBSSJCBWBSJBTWFDFT 3FQPTBDBCF[BT -PTBTJFOUPTEFMDPOEVDUPSZEFMBDPNa QB䜻BOUF FTU䜫O QSPWJTUPT EF SFQPTBDBa CF[BTQBSBMBDPNPEJEBEZMBTFHVSJEBE EFMPTPDVQBOUFT MSFQPTBDBCF[BTOPPGSFDFT䜽MPDPNPa EJEBE QBSB FM DPOEVDUPS Z FM QBTBKFSP EFMBOUFSP TJOP RVF UBNCJ䜳O BZVEB B QSPUFHFS MB DBCF[B Z FM DVFMMP FO DBTP EFBDDJEFOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 28. %735/$* 䳜 1BSBDPOTFHVJSMBN䜫YJNBFGFDUJWJa EBEFODBTPEFBDDJEFOUF BKVTUFFM SFQPTBDBCF[BTEF NPEP RVF MB QBSUF DFOUSBM EFM NJTNP TF FOa DVFOUSF B MB BMUVSB EFM DFOUSP EF HSBWFEBEEFMBDBCF[BEFMPDVQBOa UF (FOFSBMNFOUF FMDFOUSPEFHSBWFa EBE EF MB DBCF[B EF MBT QFSTPOBT DPJODJEF DPO MB BMUVSB EF MPT PKPT TJNJTNP BKVTUFFMSFQPTBDBCF[BT MP N䜫T DFSDB QPTJCMF B TV DBCF[B 1PS FTUB SB[䜽O OP TF SFDPNJFOEB FM VTP EF DPKJOFT RVF TFQBSF FM DVFSQPEFMSFTQBMEP 䳜 /PDPOEV[DBFMWFI䜷DVMPTJOMPTSFa QPTBDBCF[BTZBRVFQVFEFQSPWPa DBSHSBWFTMFTJPOFTBMPTPDVQBOUFT FO DBTP EF BDDJEFOUF -PT SFQPTBa DBCF[BTMFPGSFDFOQSPUFDDJ䜽ODPOa USB MFTJPOFT DFSWJDBMFT TJ FTU䜫O BKVTUBEPTDPSSFDUBNFOUF 䳜 /PBKVTUFMBQPTJDJ䜽OEFMSFQPTBDBa CF[BT EFM BTJFOUP EFM DPOEVDUPS NJFOUSBTFMWFI䜷DVMPFTU䜫FONPWJa NJFOUP 5/$*䜝/ 4J OP IBZ OJOH䝄O PDVQBOUF FO MPT BTJFOUPT USBTFSPT BKVTUF MB BMUVSB EFMSFQPTBDBCF[BTBMBQPTJDJ䜽ON䜫T CBKB M SFQPTBDBCF[BT EFM BTJFOUP USBTFSP QPES䜷B SFEVDJS MB WJTJCJMJEBE EFMB[POBUSBTFSB KVTUFEFMBBMUVSBIBDJBBSSJCBZ IBDJBBCBKP 1BSB FMFWBS FM SFQPTBDBCF[BT UJSF EFM NJTNPIBDJBBSSJCBBMBQPTJDJ䜽OEFTFBa EB 1BSBCBKBSFMSFQPTBDBCF[BT UJSF Z NBOUFOHB QVMTBEP FM CPU䜽O EF EFTa CMPRVFP FOFMTPQPSUFEFMSFQPTBDBa CF[BTZC䜫KFMPBMBQPTJDJ䜽OEFTFBEB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 29. 5/$*䜝/ 4J JODMJOB FMSFTQBMEP IBDJB EFMBOUF DPO FM SFQPTBDBCF[BT Z FM DPK䜷O EFM BTJFOUP FMFWBEPT FM SFQPTBDBCF[BT QPES䜷BHPMQFBSFMQBSBTPMVPUSBTQBSa UFTEFMWFI䜷DVMP %FTNPOUBKFZNPOUBKF 1BSBEFTNPOUBSFMSFQPTBDBCF[BT 3FDMJOFFMSFTQBMEP DPOMBQBMBOa DBEFSFDMJOBDJ䜽O -FWBOUF FM SFQPTBDBCF[BT MP N䜫YJa NPQPTJCMF 1SFTJPOF FM CPU䜽O EFM SFQPTBDBCFa [BT NJFOUSBTUJSBEFMSFQPTBDBa CF[BTIBDJBBSSJCB %735/$* /P QFSNJUB RVF OJOH䝄O QBTBKFSP TF TJFOUFTJOSFQPTBDBCF[BT 1BSBSFJOTUBMBSFMSFQPTBDBCF[BT $PMPRVFMBTCBSSBTEFMSFQPTBDBCFa [BT FO MPT PSJGJDJPT NJFOUSBT QSFTJPOBFMCPU䜽OEFMJCFSBDJ䜽O 3FDMJOFFMSFTQBMEP DPOMBQBMBOa DBEFSFDMJOBDJ䜽O KVTUFFMSFQPTBDBCF[BTBMBBMUVSB BEFDVBEB %735/$* TFH䝄SFTF EF RVF FM SFQPTBDBCF[BT TFCMPRVFFFOTVQPTJDJ䜽OEFTQV䜳TEF SFJOTUBMBSMP Z BKVTUBSMP BEFDVBEBa NFOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 30. KVTUFIBDJBEFMBOUFZIBDJBBUS䜫T TJFTU䜫FRVJQBEP MSFQPTBDBCF[BTUJFOFQPTJDJPOFTEJa GFSFOUFTEFBKVTUFIBDJBEFMBOUFRVFTF QVFEFO TFMFDDJPOBS UJSBOEPEF 䜳M IBDJB EFMBOUF IBTUB FM FODMBWBNJFOUP RVF TF EFTFF1BSBBKVTUBSFMSFQPTBDBCF[BTFO MB QPTJDJ䜽O N䜫YJNB USBTFSB UJSF EFM NJTNP IBDJB EFMBOUF IBTUB FM UPQF Z TV䜳MUFMP KVTUF FM SFQPTBDBCF[BT DPa SSFDUBNFOUF EF GPSNB RVF TPQPSUF BEFDVBEBNFOUFMBDBCF[BZFMDVFMMP %735/$* 1VFEF BQBSFDFS VO FTQBDJP FOUSF FM BTJFOUP Z FM CPU䜽O EF MJCFSBDJ䜽O EFM SFQPTBDBCF[BT BM TFOUBSTF FO FM BTJFOUP P BM FNQVKBS P UJSBS EFM BTJFOUP5FOHBDVJEBEPEFOPFOHBOa DIBSTFMPTEFEPTFOFMFTQBDJP #PMTJMMPEFMSFTQBMEP TJFTU䜫 FRVJQBEP M CPMTJMMP EFM BTJFOUP FTU䜫 DPMPDBEP FO MBQBSUFUSBTFSBEFMSFTQBMEPEFMQBTBKFa SPEFMBOUFSP %735/$* #PMTJMMPTEFMSFTQBMEP /P DPMPRVF PCKFUPT QFTBEPT P QVOa UJBHVEPTFOMPTCPMTJMMPTEFMSFTQBMEP ODBTPEFBDDJEFOUF QPES䜷BOTBMJSTF EFMCPMTJMMPZQSPWPDBSMFTJPOFTBMPT PDVQBOUFTEFMWFI䜷DVMP KVTUFEFMBTJFOUPUSBTFSP 3FQPTBDBCF[BT TJFTU䜫FRVJQBEP M BTJFOUP USBTFSP FTU䜫 FRVJQBEP DPO SFQPTBDBCF[BTQBSBNBZPSTFHVSJEBEZ DPNPEJEBEEFMPDVQBOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 31. MSFQPTBDBCF[BTOPPGSFDFT䜽MPDPNPa EJEBEQBSBMPTBDPNQB䜻BOUFT TJOPRVF UBNCJ䜳O BZVEBB QSPUFHFS MB DBCF[B Z FMDVFMMPFODBTPEFBDDJEFOUF %735/$* 䳜 1BSBDPOTFHVJSMBN䜫YJNBFGFDUJWJa EBEFODBTPEFBDDJEFOUF BKVTUFFM SFQPTBDBCF[BT EF NPEP RVF MB QBSUF DFOUSBM EFM NJTNP TF FOa DVFOUSF B MB BMUVSB EFM DFOUSP EF HSBWFEBEEFMBDBCF[BEFMPDVQBOa UF (FOFSBMNFOUF FM DFOUSP EF HSBWFEBEEFMBDBCF[BEFMBTQFSa TPOBTDPJODJEFDPOMBBMUVSBEFMPT PKPT KVTUF FM SFQPTBDBCF[BT MP N䜫TDFSDBQPTJCMFBTVDBCF[B1PS FTUB SB[䜽O OP TF SFDPNJFOEB FM VTPEFDPKJOFTRVFTFQBSFFMDVFSQP EFMSFTQBMEP 䳜 /P DPOEV[DB FM WFI䜷DVMP TJO UFOFS NPOUBEPT MPT SFQPTBDBCF[BT -PT PDVQBOUFT QVFEFO UFOFS HSBWFT EB䜻PT FO DBTP EF BDDJEFOUF -PT SFQPTBDBCF[BT MF PGSFDFO QSPUFDa DJ䜽O DPOUSB HSBWFT MFTJPOFT DFSWJa DBMFT TJ FTU䜫O BKVTUBEPT DPSSFDUBa NFOUF KVTUFEFMBBMUVSBIBDJBBSSJCBZIBDJB BCBKP TJFTU䜫FRVJQBEP 1BSB FMFWBS FM SFQPTBDBCF[BT UJSF EFM NJTNPIBDJBBSSJCBBMBQPTJDJ䜽OEFTFBa EB 1BSBCBKBSFMSFQPTBDBCF[BT UJSF Z NBOUFOHB QVMTBEP FM CPU䜽O EF EFTa CMPRVFP FOFMTPQPSUFEFMSFQPTBDBa CF[BTZC䜫KFMPBMBQPTJDJ䜽OEFTFBEB %FTNPOUBKFZNPOUBKF TJFTU䜫FRVJQBa EP 1BSBSFUJSBSFMSFQPTBDBCF[BT MFW䜫OUFMP IBTUBFMUPQF QVMTFFMCPU䜽OEFEFTCMPa RVFP ZUJSFEFMSFQPTBDBCF[BTIBDJB BSSJCB 1BSBWPMWFSBNPOUBSFMSFQPTBDBCF[BT DPMPRVF MBT CBSSBT FO MPT PSJGJDJPT NJFOUSBTQVMTBFMCPU䜽OEFEFTCMPRVFP DPOUJOVBDJ䜽O BK䝄TUFMPBMBBMUVSB BEFDVBEB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 32. %735/$* TFH䝄SFTF EF CMPRVFBSFM SFQPTBDBa CF[BTBMBQPTJDJ䜽OUSBTBKVTUBSMPEF GPSNBBEFDVBEBQBSBQSPUFHFSBMPT PDVQBOUFT 1MFHBEPEFMBTJFOUPUSBTFSP TJFTU䜫 FRVJQBEP -PTSFTQBMEPTUSBTFSPTQVFEFOEPCMBSTF QBSBGBDJMJUBSMBDBSHBEFFMFNFOUPTMBSa HPT P QBSB BVNFOUBS MB DBQBDJEBE EFM NBMFUFSPEFMWFI䜷DVMP %735/$* MPCKFUJWPEFQPEFSEPCMBSFMSFTQBMa EP EFM BTJFOUP USBTFSP FT QFSNJUJS USBOTQPSUBS PCKFUPT N䜫T MBSHPT EF MPT RVF TFS䜷B QPTJCMF MMFWBS OPSNBMa NFOUF /VODBEFKFRVFMPTBDPNQB䜻BOUFTTF TJFOUFO FO MB QBSUF TVQFSJPS EF VO SFTQBMEP QMFHBEP NJFOUSBT TF FTU䜫 NPWJFOEP FM DPDIF ZB RVF OP FT MB QPTJDJ䜽OOPSNBMEFTFOUBSTFZEFFTa UBGPSNBOPQPES䜷BOVUJMJ[BSMPTDJOa $POUJO䝄B $POUJO䝄B UVSPOFT MMP QPES䜷B DBVTBS MFTJPOFT HSBWFTPMBNVFSUFFODBTPEFBDDJa EFOUFPEFQBSBEBCSVTDB-PTPCKFa UPT DBSHBEPT TPCSF FM SFTQBMEP EFM BTJFOUP QMFHBEP OP EFCFO TFS N䜫T BMUPT RVF MB QBSUF TVQFSJPS EF MPT BTJFOUPTEFMBOUFSPT%FMPDPOUSBSJP FO DBTP EF GSFOBEB CSVTDB MB DBSHB QPES䜷B EFTMJ[BSTF IBDJB EFMBOUF Z QSPWPDBSMFTJPOFTPEB䜻PT -PT SFTQBMEPT USBTFSPT TF QVFEFO QMFa HBSIBDJBEFMBOUFQBSBQSPQPSDJPOBSVO FTQBDJPEFDBSHBBEJDJPOBMZGBDJMJUBSFM BDDFTPBMB[POBEFDBSHB 䳜 1BSBFMFWBSFMSFTQBMEP MFWBOUFZFNa Q䝄KFMP GJSNFNFOUF IBTUB RVF RVFEF FODBKBEPFOTVTJUJP 䳜 $VBOEP WVFMWB B DPMPDBS FM SFTQBMEP FOQPTJDJ䜽OWFSUJDBM DPMPRVFEFOVFWP MPT DJOUVSPOFT EF TFHVSJEBE EF MPT BTJFOUPTUSBTFSPTQBSBRVFMPTQBTBa KFSPT EF MPT BTJFOUPT USBTFSPT MPT QVFEBOVUJMJ[BS %735/$* /P QMJFHVF FM BTJFOUP USBTFSP TJ MB QPTJDJ䜽O EFM DPOEVDUPS OP FTU䜫 DPa SSFDUBNFOUF BKVTUBEB EF BDVFSEP DPO MB GJHVSB EFM DPOEVDUPS EFTQV䜳T EFQMFHBSFMBTJFOUPUSBTFSP6OBGSFa OBEBSFQFOUJOBPVOBDPMJTJ䜽OQPES䜷BO QSPWPDBSMFTJPOFT 5/$*䜝/ 䳜 M QMFHBS P EFTQMFHBS FM BTJFOUP USBTFSP BTFH䝄SFTF EF EFTQMB[BS DPNQMFUBNFOUFFMBTJFOUPEFMBOUFa SP IBDJB EFMBOUF 4J OP IBZ TVGJa DJFOUFFTQBDJPQBSBQMFHBSFMBTJFOa UPUSBTFSP OVODBMPQMJFHVFQPSMB GVFS[B 1PES䜷B EB䜻BS FM SFQPTBDBa CF[BTPMBTQJF[BTSFMBDJPOBEBTDPO FMBTJFOUP 䳜 OUFTEFVUJMJ[BSFMDJOUVS䜽OEFTFa HVSJEBE BTFH䝄SFTF EF SFUJSBSMP EF MPTPSJGJDJPTVCJDBEPTFOBNCPTMBa EPT EFM SFTQBMEP 4J UJSB EFM DJOUVa S䜽OEFTFHVSJEBENJFOUSBTUPEBW䜷B TF FODVFOUSB FO MPT PSJGJDJPT QPa ES䜷BEB䜻BSFMDJOUVS䜽OEFTFHVSJEBE PMPTPSJGJDJPT $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 33. $POUJO䝄B 䳜 6UJMJDF MPTPSJGJDJPT TPMP DVBOEP OP IBZBOJOH䝄OQBTBKFSPFOFMBTJFOUP USBTFSPPDVBOEPOFDFTJUFQMFHBSFM BTJFOUPUSBTFSP 1BSBQMFHBSFMSFTQBMEPUSBTFSP $VBOEP QMJFHVF FM SFTQBMEP JOUSPa EV[DBMBIFCJMMBEFMDJOUVS䜽OUSBTFSP FOFMCPMTJMMPTJUVBEPFOUSFFMSFTQBMa EPUSBTFSPZFMDPK䜷O BTFHVS䜫OEPTF EF RVF OJOHVOP EF MPT DJOUVSPOFT JOUFSGJFSFDPOFMFRVJQBKFZMBDBSHB BMNBDFOBEB DPOUJOVBDJ䜽O JOUSPa EV[DB MPT DJOUVSPOFT EF TFHVSJEBE FOMPTPSJGJDJPTTJUVBEPTBBNCPTMBa EPT KVTUF FM SFTQBMEP EFMBOUFSP FO MB QPTJDJ䜽O WFSUJDBM Z TJ FT OFDFTBSJP EFTMJDF FM BTJFOUP EFMBOUFSP BWBOa [䜫OEPMP #BKF MPT SFQPTBDBCF[BT USBTFSPT B MBQPTJDJ䜽ON䜫TCBKB 5JSF EF MB QBMBODB EF MJCFSBDJ䜽O EF CMPRVFP Z QMJFHVF FM SFTQBMEP EFM BTJFOUPUSBTFSPIBDJBEFMBOUFZIBa DJBBCBKP 1BSBEFTQMFHBSFMBTJFOUPUSBTFSP 1BSB VTBS FM BTJFOUP USBTFSP FMFWF ZUJSFEFMSFTQBMEPIBDJBBUS䜫T5JSF GJSNFNFOUFEFMSFTQBMEPIBTUBRVF RVFEFFODBKBEPFOTVTJUJPTFH䝄a SFTF EF RVF FM SFTQBMEP FTU䜳 CMPa RVFBEPFOTVTJUJP$VBOEPWVFMWBB DPMPDBSFMSFTQBMEPFOQPTJDJ䜽OWFSa UJDBM BTFH䝄SFTF EF RVF RVFEF FOa DMBWBEP FO TV QPTJDJ䜽O FNQVKBOEP MBQBSUFTVQFSJPSEFMSFTQBMEP 4JOPQVFEFWFSMBM䜷OFBSPKBFOFMMBa UFSBMEFMBQBMBODBEFQMFHBEP TJHa OJGJDB RVF FM SFTQBMEP EFM BTJFOUP FTU䜫DPNQMFUBNFOUFCMPRVFBEP $PMPRVFFMDJOUVS䜽OEFMBTJFOUPUSBa TFSPFOMBQPTJDJ䜽ODPSSFDUB $VBOEP FM SFTQBMEP FTU䜳 DPNQMFUBa NFOUF JOTUBMBEP DPNQSVFCF EF OVFWP MB QBMBODB EF QMFHBEP EFM SFTQBMEP %735/$* 1PTJDJ䜽OWFSUJDBMEFMBTJFOUP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 34. $POUJO䝄B MWPMWFSBDPMPDBSFMSFTQBMEPUSBTFa SPBMBQPTJDJ䜽OWFSUJDBM TVKFUFFMSFTa QBMEPZI䜫HBMPSFHSFTBSMFOUBNFOUF 4JTFWVFMWFBDPMPDBSFMSFTQBMEPTJO TVKFUBSMP FM SFTQBMEP EFM BTJFOUP QVFEFTBMUBSIBDJBEFMBOUFQSPWPDBOa EPMFTJPOFTBMBQFSTPOBRVFFTHPMa QFBEBQPSFMBTJFOUP %735/$* %FTQV䜳TEFQMFHBSFMBTJFOUPUSBTFSP BOPTFSRVFMBQPTJDJ䜽OEFMDPOEVDa UPSFTU䜳DPSSFDUBNFOUFBKVTUBEBDPO MBGJHVSBEFMDPOEVDUPS OPQMJFHVFFM BTJFOUP USBTFSP -BT MFTJPOFT DPSQPa SBMFTTFQPES䜷BOJODSFNFOUBSFODBTP EFGSFOB[PSFQFOUJOPPDPMJTJ䜽O %735/$* $VBOEP WVFMWB B DPMPDBS FM SFTQBMEP USBTFSP FO QPTJDJ䜽O WFSUJDBM EFTQV䜳T EFIBCFSMPQMFHBEP 5FOHBDVJEBEPEFOPEB䜻BSMBIFCJMMB PMBDJODIBEFMDJOUVS䜽OEFTFHVSJEBE $POUJO䝄B $POUJO䝄B WJUF RVF MB DJODIB Z MB IFCJMMB EFM DJOUVS䜽OEFTFHVSJEBETFFOHBODIFO FO FM BTJFOUP USBTFSP TFH䝄SFTF EF RVFFMSFTQBMEPFTU䜳DPNQMFUBNFOUF CMPRVFBEPFOMBQPTJDJ䜽OWFSUJDBMFNa QVKBOEPMBQBSUFTVQFSJPSEFMSFTQBMa EP4JOP FODBTPEFBDDJEFOUFPEF QBSBEBCSVTDB FMBTJFOUPQPES䜷BQMFa HBSTFZEFKBSRVFMBDBSHBFOUSFFOFM DPNQBSUJNFOUP EFM BDPNQB䜻BOUF MP RVF QPES䜷B QSPWPDBS HSBWFT MFTJPOFT PMBNVFSUF 5/$*䜝/ %B䜻PT FO MBT IFCJMMBT EF MPT DJOUVSPOFTUSBTFSPT MQMFHBSFMSFTQBMEPEFMBTJFOUPUSBa TFSP JOUSPEV[DB MB IFCJMMB FOUSF FM SFTQBMEP USBTFSP Z FM DPK䜷O %F FTUF NPEP TFFWJUBRVFFMSFTQBMEPUSBTFa SPDBVTFEFTQFSGFDUPTFOMBIFCJMMB 5/$*䜝/ $JOUVSPOFTEFTFHVSJEBEEFMPT BTJFOUPTUSBTFSPT $VBOEP WVFMWB B DPMPDBS FM SFTQBMEP FOQPTJDJ䜽OWFSUJDBM SFDVFSEFDPMPDBS EFOVFWPMBCBOEBEFMIPNCSPEFMPT DJOUVSPOFT EF TFHVSJEBE USBTFSPT B TVQPTJDJ䜽ODPSSFDUB %735/$* $BSHB -B DBSHB TF EFCF BTFHVSBS TJFNQSF QBSBFWJUBSDBVTBSMFTJPOFTBMPTPDVa QBOUFTEFMWFI䜷DVMP FODBTPEFQSPa EVDJSTFVOBQBSBEBJOFTQFSBEBPVOB DPMJTJ䜽O /P DPMPRVF PCKFUPT FO MPT BTJFOUPTUSBTFSPT ZBRVFOPQVFEFO BTFHVSBSTFDPSSFDUBNFOUF QVEJFOEP HPMQFBSBMPTPDVQBOUFTEFMPTBTJFOa UPTEFMBOUFSPTFODBTPEFDPMJTJ䜽O %735/$* $BSHBS $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 35. $POUJO䝄B TFH䝄SFTFEFRVFFMNPUPSFTU䜳QBa SBEP FMDBNCJP BVUPN䜫UJDP TF FOa DVFOUSF FO 1 FTUBDJPOBNJFOUP P FM DBNCJPNBOVBMFO䛴 ZRVFFMGSFOP EF FTUBDJPOBNJFOUP FTU䜳 GJSNFNFOa UFBDDJPOBEPEVSBOUFMBDBSHBPEFTa DBSHB 4J OP TF TJHVFO FTUBT JOEJDBa DJPOFT FMWFI䜷DVMPQPES䜷BEFTQMB[BSTF TJMBQBMBODBEFDBNCJPTFNVFWFEF NBOFSBJOBEWFSUJEBBPUSBQPTJDJ䜽O $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 36. $ $*/5630/4%4(63*%% 4JTUFNBEFTVKFDJ䜽OEFMDJOUVS䜽O EFTFHVSJEBE %735/$* 䳜 1BSBVOBNBZPSQSPUFDDJ䜽OEFMTJTa UFNB EFTVKFDJ䜽O VUJMJDF FM DJOUVa S䜽O TJFNQSF RVF FM DPDIF FTU䜳 FO NBSDIB 䳜 -PT DJOUVSPOFT TPO N䜫T FGFDUJWPT DVBOEPMPTSFTQBMEPTFTU䜫OFOQPa TJDJ䜽OWFSUJDBM 䳜 -PTOJ䜻PTEFB䜻PTPNFOPTEFa CFO TFOUBSTF Z VUJMJ[BS FM TJTUFNB EF TVKFDJ䜽O FO FM BTJFOUP USBTFSP /VODBQFSNJUBBMPTOJ䜻PTWJBKBSFO FM BTJFOUP EFMBOUFSP 4J VO OJ䜻P NBZPSEFB䜻PTTFTJFOUBFOFM BTJFOUPEFMBOUFSP FMDJOUVS䜽OEFCF TVKFUBSMPDPSSFDUBNFOUFZFMBTJFOa UP EFCFS䜷B TJUVBSTF FO MB QPTJDJ䜽O N䜫TBUS䜫TQPTJCMF $POUJO䝄B $POUJO䝄B 䳜 /VODB MMFWF FM DJOUVS䜽O QPS EFCBKP EFMCSB[PPEFUS䜫TEFMBFTQBMEB4J FMDJOUVS䜽OFTU䜫DPMPDBEPJODPSSFDa UBNFOUF B MB BMUVSB EFM IPNCSP FTUPQPES䜷BPDBTJPOBSHSBWFTIFSJa EBTFODBTPEFBDDJEFOUF-BCBOEB EFMIPNCSPEFCFTJUVBSTFBNFEJB BMUVSBQPSFODJNBEFMIPNCSPDSVa [BOEPMBDMBW䜷DVMB 䳜 /P DPMPRVF FM DJOUVS䜽O EF TFHVSJa EBETPCSFPCKFUPTGS䜫HJMFTODBTP EF GSFOBEB CSVTDB P JNQBDUP FM DJOUVS䜽O EF TFHVSJEBE QPES䜷B EBa 䜻BSMPT 䳜 WJUFMMFWBSFMDJOUVS䜽ODPOMBCBOa EBEPCMBEB6ODJOUVS䜽ODPOEPCMF[ OP QVFEF DVNQMJS TV GVODJ䜽O BEFa DVBEBNFOUF O DBTP EF DPMJTJ䜽O QPES䜷B PDBTJPOBSMF JODMVTP DPSUFT TFH䝄SFTF EF RVF MB DJODIB FTU䜳 SFDUBZTJOEPCMFDFT 䳜 5FOHBDVJEBEPEFOPEB䜻BSMBDJOa DIB P MB IFCJMMB 4J MB DJODIB P MB UPSOJMMFS䜷BFTU䜫OEB䜻BEBT SFFNQM䜫a DFMBT %735/$* -PT DJOUVSPOFT EF TFHVSJEBE FTU䜫O EJTF䜻BEPT QBSB MMFWBSMPT QPS FODJNB EFMBFTUSVDUVSB䜽TFBZDPMPDBSMPTB MPMBSHPEFMBQBSUFGSPOUBMEFMBQFMa WJT BMPMBSHPEFMQFDIPZIPNCSPT UBMZDPNPTFIBJOEJDBEPWJUFMMFa WBSFMDJOUVS䜽OBMPMBSHPEFMB[POB BCEPNJOBM -PT DJOUVSPOFT EFCFO BKVTUBSTF MP N䜫T GJSNF QPTJCMF EF NBOFSB DPOa TJTUFOUF QFSP D䜽NPEB QBSB PGSFDFS MBQSPUFDDJ䜽OQBSBMBRVFIBOTJEPEJa TF䜻BEPT 6ODJOUVS䜽OGMPKPSFEVDFFOHSBONFa EJEBMBQSPUFDDJ䜽OBMPDVQBOUF /P QFSNJUB RVF QVMJEPSFT BDFJUFT Z QSPEVDUPTRV䜷NJDPT TPCSFUPEP 䜫DJa EPTVMG䝄SJDP FOUSFFODPOUBDUPDPOMB DJODIB 4F QVFEF MMFWBS B DBCP MB MJNQJF[B DPOKBC䜽OOFVUSPZBHVBMDJOUVS䜽O EFCFS䜷BSFFNQMB[BSTFTJMBDJODIBFTa U䜫 EFTIJMBDIBEB DPOUBNJOBEB P EBa 䜻BEB T FTFODJBM SFFNQMB[BS UPEP FM DPOa KVOUPTJIBTVGSJEPVOEFTHBTUFFOVO JNQBDUP HSBWF JODMVTP TJ MPT EB䜻PT OPTPOWJTJCMFT/PVUJMJDFMPTDJOUVSPa OFTDPOMBCBOEBUPSDJEB6ODJOUVS䜽O $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 37. $POUJO䝄B T䜽MPQVFEFMMFWBSMPVO䝄OJDPPDVQBOa UF FTQFMJHSPTPRVFVOBQFSTPOBMMFa WF FOFM SFHB[P B VO OJ䜻P F JOUFOUF QPOFSFODJOUVS䜽OBMPTEPT %735/$* 䳜 M VTVBSJP OP EFCF MMFWBS B DBCP NPEJGJDBDJPOFT P B䜻BEJEPT QVFT JNQFEJS䜫BMPTEJTQPTJUJWPTEFBKVTa UF EFM DJOUVS䜽O GVODJPOBS QBSB FMJa NJOBSMBIPMHVSBPJNQFEJS䜫BMDPOa KVOUPEFMDJOUVS䜽OTFSBKVTUBEPQBa SBJNQFEJSMBIPMHVSB 䳜 M BCSPDIBS FM DJOUVS䜽O EF TFHVSJa EBE UFOHBDVJEBEPEFOPBDPQMBSFM DJOUVS䜽O FO MBT IFCJMMBT EF PUSPT BTJFOUPT T NVZ QFMJHSPTP Z QPa ES䜷BOPRVFEBSDPSSFDUBNFOUFQSPa UFHJEP QPS FM DJOUVS䜽O EF TFHVSJa EBE $POUJO䝄B $POUJO䝄B 䳜 /P EFTBCSPDIF FM DJOUVS䜽O EF TFa HVSJEBEZOPMPBCSPDIFZEFTBCSPa DIFSFQFUJEBNFOUFEVSBOUFMBDPOa EVDDJ䜽O 1PES䜷B DBVTBS MB Q䜳SEJEB EFDPOUSPMZQSPWPDBSVOBDDJEFOUF DPO SFTVMUBEP EF MFTJ䜽O NVFSUF P EB䜻PTNBUFSJBMFT 䳜 M BCSPDIBS FM DJOUVS䜽O EF TFHVSJa EBE BTFH䝄SFTFEFRVFOPQBTFTPa CSF PCKFUPT EVSPT P RVF QVFEBO SPNQFSTFG䜫DJMNFOUF 䳜 TFH䝄SFTFEFRVFOPIBZBOBEBFO MBIFCJMMB%FMPDPOUSBSJP FMDJOUVa S䜽OOPQPES䜷BBCSPDIBSTFDPSSFDUBa NFOUF EWFSUFODJB EFM DJOUVS䜽O EF TFHVSJEBE EFM BTJFOUP EFMBOUFSP TJ FTU䜫FRVJQBEP $PNPSFDPSEBUPSJPEFMPTDJOUVSPOFTEF TFHVSJEBE EFMBOUFSPT MPT UFTUJHPT EF BEWFSUFODJBEFMPTDJOUVSPOFTEFTFHVSJa EBE EFMBOUFSPT TF FODFOEFS䜫O EVSBOUF BQSPYJNBEBNFOUFTFHVOEPTDBEBWF[ RVFTFDPMPDBFMJOUFSSVQUPSEFFODFOEJa EPFO0/TJOUFOFSFODVFOUBTJFMDJOUVa S䜽OFTU䜫POPBCSPDIBEP 4JOPTFBCSPDIBFMDJOUVS䜽OEFTFHVSJa EBEZDPOEVDFBVOBWFMPDJEBEJOGFSJPSB LNI FM UFTUJHP EF BEWFSUFODJB TF JMVNJOBS䜫 IBTUB RVF TF BCSPDIF FM DJOa UVS䜽OEFTFHVSJEBE $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 38. 4JOPTFBCSPDIBFMDJOUVS䜽OEFTFHVSJa EBEZDPOEVDFBVOBWFMPDJEBETVQFSJPS B LNI MB TF䜻BM BD䝄TUJDB EFM DJOUVa S䜽O EF TFHVSJEBE TPOBS䜫 EVSBOUF TFHVOEPT BQSPYJNBEBNFOUF Z FM UFTUJHPEFBEWFSUFODJBDPSSFTQPOEJFOUF QBSQBEFBS䜫 4JTFEFTBCSPDIBFMDJOUVS䜽OEFTFHVSJa EBE NJFOUSBT DPOEVDF B VOB WFMPDJEBE JOGFSJPSBLNI FMUFTUJHPEFBEWFSa UFODJBEFMDJOUVS䜽OEFTFHVSJEBETFJMVa NJOBS䜫 IBTUB RVF TF BCSPDIF FM DJOUVa S䜽OEFTFHVSJEBE %735/$* $POEVDJS FO VOB QPTJDJ䜽O JODPSSFDUB BGFDUBOFHBUJWBNFOUFFMTJTUFNBEF BEWFSUFODJB EFM DJOUVS䜽O EF TFHVSJa EBETJNQPSUBOUFQBSBFMDPOEVDUPS RVF FYQMJRVF BM BDPNQB䜻BOUF D䜽NP TFOUBSTFDPSSFDUBNFOUFTFH䝄OMPFYa QVFTUPFOFTUFNBOVBM /05 5FTUJHPEFBEWFSUFODJBEFMDJOa UVS䜽O EF TFHVSJEBE EFM BDPNa QB䜻BOUF TJFTU䜫FRVJQBEP 䳜 MUFTUJHPEFBEWFSUFODJBEFMDJOUVa S䜽O EF TFHVSJEBE EFM QBTBKFSP EFa MBOUFSP TF FODVFOUSB FO FM DFOUSP EFMBDPOTPMBEFMBOUFSB 䳜 VORVFFMBTJFOUPEFMQBTBKFSPEFa MBOUFSPOPFTU䜳PDVQBEP FMUFTUJHP EFBEWFSUFODJBEFMDJOUVS䜽OEFTFa HVSJEBEQBSQBEFBS䜫PTFFODFOEFa S䜫EVSBOUFTFHVOEPT 䳜 -BTF䜻BMEFBEWFSUFODJBEFMDJOUVa S䜽OEFTFHVSJEBEEFMBDPNQB䜻BOUF QPES䜷BGVODJPOBSTJTFDPMPDBFRVJa QBKFFOFMBTJFOUP EWFSUFODJB EFM DJOUVS䜽O EF TFHVSJEBE EFM BTJFOUP USBTFSP TJ FTU䜫FRVJQBEP $PNPSFDPSEBUPSJPEFMPTDJOUVSPOFTEF TFHVSJEBEUSBTFSPT MPTUFTUJHPTEFBEa WFSUFODJBTFFODFOEFS䜫OEVSBOUFBQSPa YJNBEBNFOUFTFHVOEPTDBEBWF[RVF DPMPDB FM JOUFSSVQUPS EF FODFOEJEP FO 0/ TJO UFOFS FO DVFOUB TJ FM DJOUVS䜽O FTU䜫POPBCSPDIBEP M UFTUJHP EF BEWFSUFODJB EFM DJOUVS䜽O EF TFHVSJEBE USBTFSP TF JMVNJOBS䜫 EVa SBOUFTFHVOEPT TJTFQSPEVDFBMHVa OBEFMBTTJHVJFOUFTDJSDVOTUBODJBT $VBOEP BSSBODB FM NPUPS DVBOEP FM DJOUVS䜽OEFTFHVSJEBEUSBTFSPOPFTU䜫 BCSPDIBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 39. $VBOEP DPOEVDF BVOB WFMPDJEBE TVa QFSJPSBLNIDPOFMDJOUVS䜽OEFTFa HVSJEBEUSBTFSPEFTBCSPDIBEP $VBOEPFMDJOUVS䜽OEFTFHVSJEBEUSBa TFSPFTU䜫EFTBCSPDIBEPZTFDPOEVDF BVOBWFMPDJEBEJOGFSJPSBLNI 4J FM DJOUVS䜽O EF TFHVSJEBE EFM BTJFOUP USBTFSPTFBCSPDIB FMUFTUJHPEFBEWFSa UFODJBTFBQBHBS䜫EFJONFEJBUP 4J FM DJOUVS䜽O EF TFHVSJEBE EFM BTJFOUP USBTFSPFTU䜫EFTBCSPDIBEPDVBOEPDPOa EVDF B N䜫T EF LNI FM UFTUJHP EF BEWFSUFODJBEFMDJOUVS䜽ODPSSFTQPOEJFOa UFQBSQBEFBS䜫ZMBTF䜻BMBD䝄TUJDBEFBEa WFSUFODJBTPOBS䜫EVSBOUFTFHVOEPT 1FSPTJFMDJOUVS䜽OEFTFHVSJEBE CBOEB BCEPNJOBMPCBOEBEFMIPNCSP EFMQBa TBKFSPUSBTFSPTFBCSPDIBZEFTBCSPDIB EPT WFDFT FO VO QMB[P EF TFHVOEPT EFTQV䜳TEFIBCFSTFBCSPDIBEP FMUFTUJa HPEFBEWFSUFODJBEFMDJOUVS䜽OEFTFHVa SJEBEDPSSFTQPOEJFOUFOPTFBDUJWBS䜫 # #BOEBBCEPNJOBMCBOEBEFM IPNCSP KVTUFEFMBBMUVSB BTJFOUPEFMBOUFSP TJ FTU䜫FRVJQBEP 1BSB NBZPS DPOGPSU Z TFHVSJEBE TF QVFEF BKVTUBS MB BMUVSB EFM DJOUVS䜽O EF IPNCSPTBVOBEFMBTQPTJDJPOFT -B BMUVSB EF BKVTUF EFM DJOUVS䜽O EFM BTJFOUP OP EFCF FTUBS NVZ DFSDB EFM DVFMMP -B CBOEB EFM IPNCSP EFCFS䜷B BKVTUBSTFEFNBOFSBRVFDSVDFFMQFDIP ZRVFEFTJUVBEBBVOBBMUVSBNFEJBQPS FODJNBEFMIPNCSPDFSDBEFMBQVFSUB OVODBEFMDVFMMP 1BSBBKVTUBSMBBMUVSBEFMBODMBKFEFMDJOa UVS䜽OEFTFHVSJEBE TVCBPCBKFFMSFHVa MBEPSEFBMUVSBBMBQPTJDJ䜽OBEFDVBEB 1BSBFMFWBSMBBMUVSB UJSFEFMNJTNPIBa DJBBSSJCB 1BSBCBKBSMB UJSFEFMNJTa NPIBDJBBCBKP NJFOUSBTQSFTJPOBFM CPU䜽OSFHVMBEPSEFMBBMUVSB 4VFMUFFMCPU䜽OQBSBCMPRVFBSFMBODMBKF FO QPTJDJ䜽O *OUFOUF EFTMJ[BS FM SFHVMBa EPS EF BMUVSB QBSB BTFHVSBSTF EF RVF RVFEFCMPRVFBEPFOTVQPTJDJ䜽O 4JFMDJOUVS䜽OFTU䜫DPMPDBEPJODPSSFDUBa NFOUF FTUP QPES䜷B PDBTJPOBS HSBWFT IFSJEBTFODBTPEFBDDJEFOUF %735/$* 䳜 $PNQSVFCF RVF FM BODMBKF EFM DJOa UVS䜽OEFMIPNCSPFTU䜫TJUVBEPBMB BMUVSBDPSSFDUB/VODBDSVDFFMDJOa UVS䜽OQPSEFMBOUFEFMBDBSBPDVFa MMP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 40. $POUJO䝄B 䳜 4J USBTVO BDDJEFOUF TF SFFNQMBa [BOEFNBOFSBJOBEFDVBEBMPTDJOa UVSPOFT MPT DJOUVSPOFT QFSNBOFa DFS䜫OEB䜻BEPTZOPPGSFDFS䜫OQSPa UFDDJ䜽OFOFMDBTPEFPUSPBDDJEFOa UF QVEJFOEPBDBSSFBSIFSJEBTHSBa WFT P JODMVTP MB NVFSUF %FTQV䜳T EFVOBDDJEFOUF DBNCJFMPTDJOUVa SPOFTMPBOUFTQPTJCMF 1BSBBCSPDIBSFMDJOUVS䜽O 1BSB BCSPDIBS FM DJOUVS䜽O T䜫RVFMP EFM SFUSBDUPSFJOUSPEV[DBMBMFOH䝆FUBNFa U䜫MJDB FOMBIFCJMMB 4FFTDVDIBS䜫 VODMJDDVBOEPMBMFOH䝆FUBRVFEFCMPa RVFBEBFOMBIFCJMMB MDJOUVS䜽OTFBKVTUBBVUPN䜫UJDBNFOUF BMBMPOHJUVEBEFDVBEBT䜽MPEFTQV䜳TEF RVF MB QBSUF EFM DJOUVS䜽O EF TFHVSJEBE TFBKVTUFNBOVBMNFOUFQBSBRVFTFDJa 䜻B DPSSFDUBNFOUF B TVT DBEFSBT 4J TF JODMJOBIBDJBEFMBOUFDPOVONPWJNJFOUP MFOUP FM DJOUVS䜽O TF BMBSHBS䜫 Z MF QFSa NJUJS䜫FMNPWJNJFOUPODBNCJP TJIBZ VOB QBSBEB SFQFOUJOB P VO JNQBDUP FM DJOUVS䜽O TF CMPRVFBS䜫 FO FTB QPTJDJ䜽O 5BNCJ䜳O TF CMPRVFBS䜫 TJ JOUFOUB JODMJa OBSTFIBDJBEFMBOUFEFNBTJBEPS䜫QJEP /05 4J OP FT DBQB[ EF UJSBS EFM DJOUVS䜽O EFTEFFMSFUFOFEPS UJSFGJSNFNFOUF EFMDJOUVS䜽OZEFTQV䜳TTV䜳MUFMP%FTa QV䜳TTFS䜫DBQB[EFUJSBSEFMDJOUVS䜽O TVBWFNFOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 41. %735/$* -BCBOEBBCEPNJOBMEFCFFTUBSDPMPa DBEB MP N䜫TCBKB QPTJCMF Z BKVTU䜫Oa EPTFBMBTDBEFSBT OPFOMBDJOUVSB 4J MB DJOUB BCEPNJOBM FTU䜫 DPMPDBEB EFNBTJBEP BMUB QPES䜷B JODSFNFOUBS MB QPTJCJMJEBE EF IFSJEBT FO DBTP EF DPMJTJ䜽OMDJOUVS䜽OOPEFCFS䜷BFTUBS TJUVBEPQPSFODJNBEFMPTCSB[PT/P PCTUBOUF VOPEFCFS䜷BFTUBSQPSFOa DJNB Z PUSP QPS EFCBKP DPNP TF NVFTUSBFOMBJNBHFO /VODBMMFWFFMDJOUVS䜽OQPSEFCBKPEFM CSB[PRVFFTU䜫N䜫TDFSDBEFMBQVFSa UB $JOUVS䜽OEFTFHVSJEBEUSBTFSPDFOUSBM .BOUFOHBTJFNQSFMBQMBDB ZMBIFCJa MMB CMPRVFBEBT 5JSF EF MB MFOH䝆FUB NFU䜫MJDB FJOUSPE䝄[DBMB FOMBIFa CJMMB 4FFTDVDIBS䜫VODMJDDVBOEPMB MFOH䝆FUBRVFEFCMPRVFBEBFOMBIFCJMMB $PNQSVFCFRVFFMDJOUVS䜽OOPFTU䜳UPSa DJEP 4J TF VUJMJ[B FM DJOUVS䜽O EF TFHVSJEBE USBTFSPDFOUSBM EFCFIBDFSTFVTPEFMB IFCJMMBDPOMBNBSDB$/53 1BSBTPMUBSFMDJOUVS䜽O MDJOUVS䜽OTFTVFMUBQVMTBOEPFMCPU䜽O EF EFTCMPRVFP FO MB IFCJMMB EF CMPa RVFPMTPMUBSMP FMDJOUVS䜽OEFCFS䜫SFa HSFTBSBVUPN䜫UJDBNFOUFBMSFUSBDUPS $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 42. 4JFTUPOPPDVSSJFTF DPNQSVFCFFMDJOa UVS䜽O QBSBBTFHVSBSTF EF RVF OP FTU䜫 SFUPSDJEPZWVFMWBBJOUFOUBSMP # #BOEBJOGFSJPS TJFTU䜫FRVJQBEP 1BSBBCSPDIBSFMDJOUVS䜽O 1BSBBKVTUBSFMDJOUVS䜽OEFEPTQVOUPT FTU䜫UJDPT JOUSPEV[DBMBMFOH䝆FUBNFU䜫a MJDB FO MB IFCJMMB EF CMPRVFP 4F FTDVDIBS䜫 VO DMJD DVBOEP MB MFOH䝆FUB RVFEFCMPRVFBEBFOMBIFCJMMBTFH䝄SFa TF EF RVF FM DJOUVS䜽O FTU䜫 DPSSFDUBa NFOUF CMPRVFBEP Z EF RVF FM DJOUVS䜽O OPFTU䜫SFUPSDJEP $PO VO DJOUVS䜽O EF EPT QVOUPT FTU䜫UJa DPT MBMPOHJUVEEFCFBKVTUBSTFEFGPSNB NBOVBMQBSBRVFTFDJ䜻BDPSSFDUBNFOUF BMSFEFEPSEFMDVFSQPCSPDIFFMDJOUVa S䜽O Z UJSF EFM FYUSFNP GMPKP QBSB BKVTa UBSMP MDJOUVS䜽OEFCFFTUBSDPMPDBEPMPN䜫T CBKPQPTJCMFFOMBTDBEFSBT ZOPFO MBDJOUVSB4JFMDJOUVS䜽OFTU䜫EFNBTJBEP BMUP QVFEF BVNFOUBS MB QPTJCJMJEBE EF MFTJPOFTFODBTPEFBDDJEFOUF 4J TF VUJMJ[B FM DJOUVS䜽O EF TFHVSJEBE USBTFSPDFOUSBM EFCFIBDFSTFVTPEFMB IFCJMMBDPOMBNBSDB$/53 1BSBTPMUBSFMDJOUVS䜽O $VBOEP RVJFSF TPMUBS FM DJOUVS䜽O QVMTF FMCPU䜽O FOMBIFCJMMBEFCMPRVFP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 43. %735/$* MNFDBOJTNPEFFOHBODIFEFMDJOUVa S䜽O EF TFHVSJEBEDFOUSBM EJGJFSF EFM NFDBOJTNP EF MPT DJOUVSPOFT EF MPT BTJFOUPT USBTFSPT M BCSPDIBS MPT DJOUVSPOFTEFMIPNCSPEFMPTBTJFOa UPTUSBTFSPTPFMDJOUVS䜽OBCEPNJOBM EFM DFOUSP BTFH䝄SFTF EF JOUSPEVDJSa MPT FO MBT IFCJMMBT DPSSFTQPOEJFOUFT QBSB DPOTFHVJS VOB N䜫YJNB QSPUFDa DJ䜽OEFMTJTUFNBZHBSBOUJ[BSTVGVOa DJPOBNJFOUPDPSSFDUP (VBSEBSFMDJOUVS䜽OEFTFHVSJEBE USBTFSP -BTIFCJMMBTEFMPTDJOUVSPOFTEFTFHVSJa EBE USBTFSPT TF QVFEFO HVBSEBS FO FM CPMTJMMPTJUVBEPFOUSFFMSFTQBMEPUSBTFa SPZFMDPK䜷ODVBOEPOPTFVUJMJ[BO $JOUVS䜽OEFTFHVSJEBEDPO QSFUFOTPS TJFTU䜫FRVJQBEP MWFI䜷DVMPFTU䜫FRVJQBEPDPOQSFUFOTPa SFT EF MPT DJOUVSPOFT EF TFHVSJEBE FO MBT QPTJDJPOFT EF MPT BTJFOUPT EFMBOUFa SPTZUSBTFSPTFYUFSJPSFTM'% EJTQPa TJUJWPEFTVKFDJ䜽OEFFNFSHFODJB WJFOF FRVJQBEP DPO FM DJOUVS䜽O EF TFHVSJEBE EFMDPOEVDUPS MPCKFUJWPEFMPTQSFUFOTPSFTFTHBSBOa UJ[BS RVF MPT DJOUVSPOFT TF BKVTUFO EF GPSNBDF䜻JEBBMDVFSQPEFMPDVQBOUFFO DJFSUBT DPMJTJPOFT -PT QSFUFOTPSFT EFM DJOUVS䜽OEFTFHVSJEBEQVFEFOBDUJWBSTF FODBTPEFDIPRVFDVBOEPMBDPMJTJ䜽OFT MPCBTUBOUFGVFSUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 44. 4JFMWFI䜷DVMPTFEFUJFOFEFSFQFOUF PTJ FMPDVQBOUFJOUFOUBJODMJOBSTFIBDJBEFa MBOUF EFNBTJBEPEFQSJTB FM SFUSBDUPS EFMDJOUVS䜽OEFTFHVSJEBETFCMPRVFBFO FTBQPTJDJ䜽OODJFSUBTDPMJTJPOFTGSPOa UBMFTTFBDUJWBFMQSFUFOTPS DPOMPRVF MPT DJOUVSPOFT TF UFOTBO QBSB PCUFOFS VO NBZPS DPOUBDUP DPO FM DVFSQP EFM PDVQBOUF 1SFUFOTPSEFMSFUSBDUPS MPCKFUJWPEFMQSFUFOTPSEFMSFUSBDa UPSFTHBSBOUJ[BSRVFMPTDJOUVSPOFT EFMIPNCSPTFBKVTUFOEFGPSNBDFa 䜻JEBBMBQBSUFTVQFSJPSEFMDVFSQP EFM PDVQBOUF FO DJFSUBT DPMJTJPOFT GSPOUBMFT '% EJTQPTJUJWP EF TVKFDJ䜽O EF FNFSHFODJB QBSBFMDJOUVS䜽OEFTFa HVSJEBEEFMDPOEVDUPS M PCKFUJWP EFM '% FT HBSBOUJ[BS RVF MPT DJOUVSPOFT EF MB QFMWJT TF BKVTUFOEFGPSNBDF䜻JEBBMBQBSUF JOGFSJPSEFMDVFSQPEFMPDVQBOUFFO DJFSUBTDPMJTJPOFTGSPOUBMFT 4JFMTJTUFNBEFUFDUBVOBUFOTJ䜽OFYDFa TJWBEFMDJOUVS䜽OEFTFHVSJEBEEFMDPOa EVDUPS P EFM BDPNQB䜻BOUF DVBOEP TF BDUJWBFMQSFUFOTPS FMMJNJUBEPSEFDBSa HBEFOUSPEFMQSFUFOTPSMJCFSBS䜫BMHPEF QSFTJ䜽O EFM DJOUVS䜽O EF TFHVSJEBE FO DVFTUJ䜽O TJFTU䜫FRVJQBEP %735/$* 1BSBTVTFHVSJEBE BTFH䝄SFTFEFRVF MBDJODIBEFMDJOUVS䜽OOPFTU䜳TVFMUB OJSFUPSDJEBZTJ䜳OUFTFDPSSFDUBNFOa UFFOFMBTJFOUP /05 TJFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP -PTQSFUFOTPSFTTFBDUJWBS䜫OOPT䜽MP FOMBDPMJTJ䜽OGSPOUBMTJOPUBNCJ䜳OFO MBTDPMJTJPOFTMBUFSBMFTPFOMPTWVFMa DPTZTJFMWFI䜷DVMPFTU䜫FRVJQBEPDPO BJSCBHTMBUFSBMFTPEFDPSUJOB /05 4JOTFOTPSEFWVFMDP M QSFUFOTPS TF BDUJWBS䜫 OP TPMP FO DBTPEFDPMJTJ䜽OGSPOUBM TJOPUBNCJ䜳O FODBTPEFDPMJTJ䜽OMBUFSBMTJFMWFI䜷a DVMPFTU䜫FRVJQBEPDPOBJSCBHTMBUFa SBMFTPEFDPSUJOB M TJTUFNB EF QSFUFOTPSFT FTU䜫 DPNa QVFTUPQSJODJQBMNFOUFEFMPTTJHVJFOUFT FMFNFOUPT -BT VCJDBDJPOFT TF NVFTa USBOFOMBJMVTUSBDJ䜽O 5FTUJHP EF BEWFSUFODJB EFM BJSCBH 434 6OJEBEQSFUFOTPSBEFMSFUSBDUPS .䜽EVMPEFDPOUSPM434 %JTQPTJUJWPEFTVKFDJ䜽OEFFNFSHFOa DJB '% $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 45. %735/$* 1BSB PCUFOFS VOCFOFGJDJP N䜫YJNP EFMQSFUFOTPSEFMDJOUVS䜽O 4F EFCF MMFWBS DPSSFDUBNFOUF FM DJOUVS䜽OEFTFHVSJEBEZBKVTUBSMP BMBQPTJDJ䜽OBEFDVBEB-FBZTJa HBUPEBMBJOGPSNBDJ䜽OJNQPSUBOa UF Z MBT QSFDBVDJPOFT BDFSDB EF MBT DBSBDUFS䜷TUJDBT EF TFHVSJEBE EFMPTPDVQBOUFTEFMWFI䜷DVMP JOa DMVZFOEP DJOUVSPOFT Z BJSCBHT RVFPGSFDFFTUFNBOVBM 6TUFEZFMSFTUPEFMPTBDPNQBa 䜻BOUFT MMFWFO TJFNQSF Z DPSSFDa UBNFOUF FM DJOUVS䜽O EF TFHVSJa EBE /05 䳜 -PT QSFUFOTPSFT QSPWJTUPT FO MBT QPTJDJPOFTEFMPTBTJFOUPTEFMBOUFa SPT Z USBTFSPT FYUFSJPSFT TF BDUJa WBS䜫O FO EFUFSNJOBEBT DPMJTJPOFT -PT QSFUFOTPSFT EF MPT DJOUVSPOFT EF TFHVSJEBE QVFEFO BDUJWBSTF DVBOEPMBDPMJTJ䜽OTFBMPTVGJDJFOUF GVFSUF KVOUPDPOMPTBJSCBHT $POUJO䝄B $POUJO䝄B 䳜 $VBOEP FTUPT QSFUFOTPSFT FTU䜫O BDUJWBEPT TF QSPEVDF VO SVJEP GVFSUF Z EFM DPNQBSUJNFOUP EFM BDPNQB䜻BOUF TBMF VOB GJOB DBQB EFIVNPTJNJMBSBMIVNPEFMUBCBa DP 4PO DPOEJDJPOFT OPSNBMFT EF GVODJPOBNJFOUP Z OP TPO QFMJHSPa TBT 䳜 QFTBSEFTFSJOPDVBT MBGJOBDBQB EFIVNPQPES䜷BJSSJUBSMBQJFMZOP EFCFS䜷B JOIBMBSTF EVSBOUF MBSHPT QFS䜷PEPTEFUJFNQP-BWFNVZCJFO UPEBTMBT[POBTEFMBQJFMFYQVFTa UBTBFTUBOFCMJMMBEFTQV䜳TEFMBDa DJEFOUF FO FM DVBM MPT QSFUFOTPSFT EFM DJOUVS䜽O EF TFHVSJEBE TF BDUJa WBSPO $POUJO䝄B $POUJO䝄B 䳜 MTFOTPSRVFBDUJWBFMBJSCBH434 FTU䜫 DPOFDUBEP BM QSFUFOTPS EFM DJOUVS䜽O EF TFHVSJEBE QPS MP RVF FMUFTUJHPEFBEWFSUFODJBEFMBJSCBH 434 FOFMQBOFMEFJOTUSVNFOa UPT TF JMVNJOBS䜫 EVSBOUF TFHVOEPT BQSPYJNBEBNFOUF EFTQV䜳T EF IBCFS HJSBEP FM JOUFa SSVQUPSEFFODFOEJEPBMBQPTJDJ䜽O 0/Z BDPOUJOVBDJ䜽O EFCFS䜷BBQBa HBSTF 5/$*䜝/ 4JFMQSFUFOTPSEFMDJOUVS䜽OEFTFHVa SJEBE OP GVODJPOB DPSSFDUBNFOUF FM UFTUJHPEFBEWFSUFODJBEFMBJSCBH434 TFFODJFOEFBVORVFFMBJSCBH434OP QSFTFOUFOJOHVOBBWFS䜷B4JFMUFTUJHP EFBEWFSUFODJBEFMBJSCBH434OPTF JMVNJOBDVBOEPMBMMBWFEFFODFOEJEP TFHJSBB0/PTJQFSNBOFDFFODFOEJa EP USBT JMVNJOBSTF EVSBOUF BQSPYJa NBEBNFOUFTFHVOEPT PTJTFJMVa NJOBNJFOUSBTTFDPOEVDFFMWFI䜷DVa MP TPMJDJUF MB JOTQFDDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPa $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 46. $POUJO䝄B NJFOEB WJTJUBS VODFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* 䳜 -PT QSFUFOTPSFT FTU䜫O EJTF䜻BEPT QBSB GVODJPOBS T䜽MP VOB WF[ 5SBT TV BDUJWBDJ䜽O MPT QSFUFOTPSFT UJFa OFO RVF SFFNQMB[BSTF 5PEPT MPT DJOUVSPOFT EF DVBMRVJFS UJQP TJFNQSF UJFOFO RVF SFFNQMB[BSTF EFTQV䜳T EF IBCFS TJEP VUJMJ[BEPT FOVOBDDJEFOUF 䳜 -PT NFDBOJTNPT EF MPT QSFUFOTPa SFTTFDBMJFOUBOEVSBOUFMBBDUJWBa DJ䜽O/PUPRVFFMDPOKVOUPEFMQSFa UFOTPS EFM DJOUVS䜽O EF TFHVSJEBE EVSBOUFVOQBSEFNJOVUPTUSBTTV BDUJWBDJ䜽O 䳜 /PSFBMJDFOJOH䝄OTFSWJDJPEFNBOa UFOJNJFOUPOJDBNCJFMPTQSFUFOTPa SFTEFMPTDJOUVSPOFTEFTFHVSJEBE VTUFENJTNP4PMJDJUFMBJOTQFDDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPa OBM,JBSFDPNJFOEBWJTJUBSVODFOa USP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 /PHPMQFFFMTJTUFNBUFOTPS 䳜 /PSFBMJDFOJOH䝄OTFSWJDJPEFNBOa UFOJNJFOUP P SFQBSBDJ䜽O EFM TJTUFa NB EF UFOTPS QSFWJP EFM DJOUVS䜽O EFTFHVSJEBE 䳜 6OVTPJODPSSFDUPEFMQSFUFOTPSEFM DJOUVS䜽OPTJOPTFUJFOFOFODVFOa UB MBT BEWFSUFODJBT EF OP HPMQFBS NPEJGJDBS DPNQSPCBS DBNCJBS NBOUFOFS P SFQBSBS FM QSFUFOTPS EFM DJOUVS䜽O QVFEF QSPWPDBS VOB PQFSBDJ䜽O JODPSSFDUB VOB BDUJWBa DJ䜽OJOWPMVOUBSJBZMFTJPOFTHSBWFT 䳜 4JFNQSFMMFWFFMDJOUVS䜽OBMDPOEVa DJSPBMNPOUBSTFFOVOWFI䜷DVMP 䳜 4JTFEFCFEFTHVB[BSFMWFI䜷DVMPP EFTFDIBSFMQSFUFOTPSEFMDJOUVS䜽O EFTFHVSJEBE Q䜽OHBTFFODPOUBDUP DPOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ -PT USBCBKPT FO MB DBSSPDFS䜷B EF MB QBSUF EFMBOUFSB EFM WFI䜷DVMP QPES䜷BO DBVTBS EB䜻PT FO FM TJTUFNB QSFUFOa TPSEFMDJOUVS䜽OEFTFHVSJEBE 1PSMPUBOUP TPMJDJUFFMNBOUFOJNJFOa UPEFMTJTUFNBFOVOUBMMFSQSPGFTJPa OBM,JBSFDPNJFOEBWJTJUBSVODFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJa [BEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 47. 1 1SFDBVDJPOFTEFMDJOUVS䜽O %735/$* 䳜 5PEPT MPTPDVQBOUFT EFM WFI䜷DVMP EFCFO MMFWBS TJFNQSF FM DJOUVS䜽O QVFTUP -PT DJOUVSPOFT Z MBT TVKFa DJPOFT QBSB MPT OJ䜻PT SFEVDFO FM SJFTHPEFMFTJPOFTHSBWFTQBSBUPa EPTMPTPDVQBOUFTFODBTPEFDPMJa TJ䜽OPEFVOBQBSBEBSFQFOUJOB4JO FM DJOUVS䜽O MPT PDVQBOUFT QPES䜷BO FTUBSEFNBTJBEPDFSDBFODBTPEF RVF TF EFTQMJFHVF FM BJSCBH QPa ES䜷BO HPMQFBSTF DPO MB FTUSVDUVSB JOUFSJPSPTFSFYQVMTBEPTEFMWFI䜷a DVMP -PT DJOUVSPOFT VUJMJ[BEPT DPa SSFDUBNFOUF SFEVDFO HSBO QBSUF EFFTUPTQFMJHSPT 4JFNQSF TJHB MBT QSFDBVDJPOFT TPa CSFMPTDJOUVSPOFT BJSCBHTZTFHVa SJEBE EF MPT PDVQBOUFT RVF TF JOa DMVZFOFOFTUFNBOVBM 䳜 /P DPMPRVF FM DJOUVS䜽O EF TFHVSJa EBETPCSFPCKFUPTGS䜫HJMFTODBTP EF GSFOBEB CSVTDB P JNQBDUP FM DJOUVS䜽O EF TFHVSJEBE QPES䜷B EBa 䜻BSMPT #FC䜳TZOJ䜻PTQFRVF䜻PT %FCFTFSDPOTDJFOUFEFMBTDBSBDUFS䜷TUJa DBTFTQFD䜷GJDBTEFTVQB䜷T-PTBTJFOUPT QBSB CFC䜳T ZP OJ䜻PT EFCFO DPMPDBSTF BEFDVBEBNFOUF FO FM BTJFOUP USBTFSP 1BSB N䜫T JOGPSNBDJ䜽O TPCSF MB VUJMJ[Ba DJ䜽OEFFTUFUJQPEFTFHVSJEBE DPOTVMUF FM䳖4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT䳗FOMB Q䜫HJOBFOFTUFBQBSUBEP %735/$* 5PEBT MBT QFSTPOBT JODMVJEP OJ䜻PT RVFFTU䜫OEFOUSPEFMWFI䜷DVMPEFCFO FTUBSDPSSFDUBNFOUFTVKFUBTFOUPEP NPNFOUP /VODB DPKB B VO OJ䜻P FO MPTCSB[PTPFOFMSFHB[PNJFOUSBTWB NPOUBEPFOFMWFI䜷DVMP-BTGVFS[BT WJPMFOUBTDSFBEBTEVSBOUFVODIPRVF IBS䜫O RVF FM OJ䜻P TF TFQBSF EF TVT CSB[PTZUJSBS䜫BMOJ䜻PDPOUSBMBFTa USVDUVSB JOUFSJPS 6UJMJDF TJFNQSF MBT TVKFDJPOFT BEFDVBEBT QBSB MB BMUVSB ZFMQFTPEFMOJ䜻P /05 -PT OJ䜻PT FTUBS䜫O NFKPS QSPUFHJEPT EFHPMQFTPIFSJEBTFODBTPEFBDDJa EFOUFTJFMTJTUFNBEFTVKFDJ䜽OJOTUBa MBEP FO FM BTJFOUP USBTFSP EFM OJ䜻P DVNQMFMPTSFRVJTJUPTEFMBTOPSNBT EFTFHVSJEBEEFMQB䜷TDPSSFTQPOEJFOa UF OUFT EF BERVJSJS VO TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT BTFH䝄SFTF EF RVF QPTFF MB FUJRVFUB RVF DFSUJGJDB RVFSF䝄OFMPTFTU䜫OEBSFTEFTFHVSJa EBE EF TV QB䜷T M TJTUFNB EF TVKFa DJ䜽OEFCFTFSFMBEFDVBEPQBSBFMQFa TP Z MB BMUVSB EFM OJ䜻P $PNQSVFCF FTUB JOGPSNBDJ䜽O FO MB FUJRVFUB EFM TJTUFNBEFTVKFDJ䜽O$POTVMUF䳖4JTUFa NBEFTVKFDJ䜽OQBSBOJ䜻PT䳗FOMBQ䜫a HJOBFOFTUFBQBSUBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 48. / /J䜻PTHSBOEFT -PTOJ䜻PTEFNBTJBEPBMUPTQBSBVOTJTa UFNB EF TVKFDJ䜽OEFCFO PDVQBS MPT BTJFOUPTUSBTFSPTZVUJMJ[BSMPTDJOUVSPa OFT EF TFHVSJEBE DPSSFTQPOEJFOUFT -B CBOEBBCEPNJOBMEFCFDPMPDBSTFDF䜻JEB FO MBT DBEFSBT Z MP N䜫T CBKB QPTJCMF $PNQSVFCF QFSJ䜽EJDBNFOUF FM DJOUVS䜽O TF BKVTUB $VBOEP VO OJ䜻P TF SFUVFSDF QPES䜷B EFTDPMPDBS FM DJOUVS䜽O O DBTP EFBDDJEFOUFMPTOJ䜻PTUFOES䜫OMBN䜫YJa NB TFHVSJEBE QPTJCMF TJ EJTQPOFO EFM TJTUFNB EF TVKFDJ䜽O BEFDVBEP FO FM BTJFOUPUSBTFSP4JVOOJ䜻P EFN䜫TEF B䜻PT UJFOF RVF TFOUBSTF FO FM BTJFOUP EFMBOUFSP EFCFS䜷B QSPUFHFSTF BM OJ䜻P DPO MB CBOEB BCEPNJOBM Z EF IPNCSPT EJTQPOJCMF Z FM BTJFOUP EFCF DPMPDBSTF FO MB QPTJDJ䜽O N䜫T USBTFSB -PT OJ䜻PT EF B䜻PT P NFOPT EFCFO TFOUBSTF Z VUJMJ[BS FM TJTUFNB EF TVKFa DJ䜽O EFM BTJFOUP USBTFSP /6/$ EFKF TFOUBSBVOOJ䜻PEFB䜻PTPNFOPTFO FMBTJFOUPEFMBOUFSP/6/$DPMPRVFFM BTJFOUPFTQFDJBMEFOJ䜻PTRVFEFCFJSFO FM BTJFOUP USBTFSP FO FM BTJFOUP EFM BDPNQB䜻BOUFEFMWFI䜷DVMP 4JMBCBOEBEFMIPNCSPSP[BMJHFSBNFOa UFMBDBSBPDVFMMPEFMOJ䜻P JOUFOUFDPMPa DBSBMOJ䜻PN䜫TDFSDBEFMDFOUSPEFMWFa I䜷DVMP4JMBCBOEBEFIPNCSPTUPEBW䜷B UPDBMBDBSBPDVFMMPEFMOJ䜻P FTOFDFTBa SJPWPMWFSBVUJMJ[BSFMTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PT %735/$* $JOUVSPOFT QBSB MPT OJ䜻PT QFa RVF䜻PT 䳜 /VODBQFSNJUBRVFFMDJOUVS䜽OFTU䜳 FO DPOUBDUP DPO FM DVFMMP EFM OJ䜻P NJFOUSBTFMWFI䜷DVMPFTU䜫FONPWJa NJFOUP 䳜 4J FM OJ䜻P OP MMFWB DPSSFDUBNFOUF QVFTUPFMDJOUVS䜽OPOPMPMMFWBCJFO BKVTUBEP FYJTUFFMSJFTHPEFNVFSa UFPEFHSBWFTMFTJPOFT .VKFSFTFNCBSB[BEBT 4F SFDPNJFOEB FM VTP EFM DJOUVS䜽O EF TFHVSJEBEFOMBTNVKFSFTFNCBSB[BEBT QBSB SFEVDJS MPT SJFTHPT EF MFTJPOFT FO VOBDDJEFOUF$VBOEPTFVTBFMDJOUVS䜽O MB CBOEB BCEPNJOBM EFCF DPMPDBSTF MP N䜫T BCBKP QPTJCMF FO MBT DBEFSBT Z OP TPCSFFMBCEPNFO1BSBSFDPNFOEBDJPa OFTFTQFD䜷GJDBT DPOTVMUFBVON䜳EJDP %735/$* .VKFSFTFNCBSB[BEBT -BT NVKFSFT FNCBSB[BEBT OP EFCFO DPMPDBSOVODBMBCBOEBBCEPNJOBMEFM DJOUVS䜽O EF TFHVSJEBE TPCSF MB [POB EFM BCEPNFO EPOEF TF FODVFOUSB FM GFUP P TPCSF FM BCEPNFO EPOEF FM DJOUVS䜽OQPES䜷BEB䜻BSFMGFUPFODBTP EFJNQBDUP 1FSTPOBIFSJEB M DJOUVS䜽O EF TFHVSJEBE EFCF VTBSTF DVBOEP TF USBOTQPSUB B VOB QFSTPOB IFSJEB 4J FT OFDFTBSJP DPOTVMUF B VO N䜳EJDPQBSBSFDPNFOEBDJPOFTFTQFD䜷GJa DBT 6OBQFSTPOBQPSDJOUVS䜽O /VODB EPT QFSTPOBT JODMVTP TJ VOB FT VOOJ䜻P EFCFOVUJMJ[BSFMNJTNPDJOUVa S䜽OEFTFHVSJEBEBMNJTNPUJFNQPTUP QPES䜷B JODSFNFOUBS MB HSBWFEBE EF MBT IFSJEBTFODBTPEFBDDJEFOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 49. / /PTFBDVFTUF 1BSB SFEVDJS MBTQPTJCJMJEBEFT EF MFTJ䜽O FO DBTP EF BDDJEFOUF Z QBSB DPOTFHVJS MBN䜫YJNBFGJDBDJBFOFMTJTUFNBEFTVa KFDJ䜽O UPEPTMPTQBTBKFSPTEFMPTBTJFOa UPT EFMBOUFSPT Z USBTFSPT EFCFO FTUBS TFOUBEPTFOQPTJDJ䜽OWFSUJDBMDVBOEPFM WFI䜷DVMPFTU䜫FONPWJNJFOUP6ODJOUVa S䜽O EF TFHVSJEBE OP QSPQPSDJPOBS䜫 MB QSPUFDDJ䜽OBEFDVBEBTJMBQFSTPOBFTU䜫 BDPTUBEB FO FM BTJFOUP USBTFSP P TJ MPT BTJFOUPTEFMBOUFSPTZUSBTFSPTFTU䜫OFO VOBQPTJDJ䜽OSFDMJOBEB %735/$* 4FOUBSTF DPO FM SFTQBMEP SFDMJOBEP BVNFOUB MB QPTJCJMJEBE EF TVGSJS MFa TJPOFTHSBWFTPMBNVFSUFFODBTPEF DPMJTJ䜽OPGSFOBEBCSVTDB-BQSPUFDa DJ䜽O EFM TJTUFNB EF TVKFDJ䜽O DJOUVa S䜽OZBJSCBHT TFSFEVDFFOHSBOQBSa UFBMSFDMJOBSFMBTJFOUP-PTDJOUVSPa OFT EF TFHVSJEBE EFCFO FTUBS DF䜻Ja EPTBMBTDBEFSBTZBMQFDIPQBSBRVF GVODJPOFO DPSSFDUBNFOUF $VBOUP N䜫T SFDMJOBEP FTU䜳 FM SFTQBMEP NBa ZPSFTMBQPTJCJMJEBEEFRVFMBTDBEFa SBTEFMPDVQBOUFSFTCBMFOQPSEFCBKP $POUJO䝄B $POUJO䝄B EF MB CBOEB EFM BTJFOUP QSPWPDBOEP HSBWFTMFTJPOFTJOUFSOBTPQSPWPDBOa EPRVFFMDVFMMPEFMPDVQBOUFTFHPMa QFFDPOFMDJOUVS䜽O-PTDPOEVDUPSFT ZMPTQBTBKFSPTEFCFOTFOUBSTFTJFNa QSFDPOMBFTQBMEBDPOUSBFMBTJFOUP DPOFMDJOUVS䜽ODPSSFDUBNFOUFBCSPa DIBEP Z DPO FM SFTQBMEP FO QPTJDJ䜽O WFSUJDBM $VJEBEPEFMPTDJOUVSPOFT -PTTJTUFNBTEFMDJOUVS䜽OEFTFHVSJEBE OVODBEFCFOEFTNPOUBSTFOJNPEJGJDBSa TFEFN䜫T UFOHBDVJEBEPQBSBBTFHVa SBSTF EF RVF MPT DJOUVSPOFT Z MPT FMFa NFOUPTEFMNJTNPTFEB䜻FODPOMBTCJa TBHSBT EFM BTJFOUP MBT QVFSUBT P QPS PUSPTBCVTPT %735/$* 䳜 $VBOEPWVFMWBBDPMPDBSFMSFTQBMa EPUSBTFSPFOQPTJDJ䜽OWFSUJDBMEFTa QV䜳T EF IBCFSMP QMFHBEP UFOHB DVJEBEPEFOPEB䜻BSOJMBDJODIBOJ MB IFCJMMB EFM DJOUVS䜽O TFH䝄SFTF EF RVF MB DJODIB P MB IFCJMMB OP RVFEB FOHBODIBEB FO FM BTJFOUP USBTFSP 6O DJOUVS䜽O EF TFHVSJEBE DPO MB IFCJMMB P MB DJODIB EB䜻BEB QPES䜷B QSPWPDBS VO GBMMP EVSBOUF VOB DPMJTJ䜽O P QBSBEB SFQFOUJOB PDBTJPOBOEP MFTJPOFT HSBWFT 4J MB DJODIB P MB IFCJMMB FTU䜫O EB䜻BEBT IBHB RVF MBT DBNCJFO JONFEJBUBa NFOUF 䳜 -PT DJOUVSPOFT EF TFHVSJEBE QVFa EFOFTUBSDBMJFOUFTFOVOWFI䜷DVMP RVF IB QFSNBOFDJEP DFSSBEP EVa SBOUFVOE䜷BTPMFBEP -PT CFC䜳T Z MPT OJ䜻PT QPES䜷BO TVa GSJSRVFNBEVSBT $PNQSPCBDJPOFTQFSJ䜽EJDBT $PNQSVFCF QFSJ䜽EJDBNFOUF UPEPT MPT DJOUVSPOFT EF TFHVSJEBE QBSB WFSJGJDBS EB䜻PT P EFTHBTUF EF BMH䝄O UJQP $VBMa RVJFS QJF[B EB䜻BEB EFCF DBNCJBSTF MP BOUFTQPTJCMF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 50. . .BOUFOHBMPTDJOUVSPOFTMJNQJPTZ TFDPT -PT DJOUVSPOFT EFTFHVSJEBE EFCFO NBOUFOFSTFMJNQJPTZTFDPT4JMPTDJOa UVSPOFTEFTFHVSJEBETFFOTVDJBO QVFa EFOMJNQJBSTFFNQMFBOEPVOKBC䜽OOFVa USPZBHVBDBMJFOUF/PEFCFOVUJMJ[BSTF MFK䜷B UJOUF EFUFSHFOUFTGVFSUFTPBCSBa TJWPT QPSRVF QVFEFO EB䜻BS Z EFCJMJUBS MPTUFKJEPT $V䜫OEPSFFNQMB[BSMPTDJOUVSPOFT 4JFMWFI䜷DVMPTVGSFVOBDDJEFOUF EFCFO SFFNQMB[BSTF UPEPT MPT DPOKVOUPT EF DJOUVSPOFTEFTFHVSJEBERVFTFFTUBCBO VUJMJ[BOEP FO FTF NPNFOUP TUP EFCF SFBMJ[BSTF BVORVF OP IBZB EB䜻PT WJTJa CMFTOFTUFDBTP TPMJDJUFFMSFFNQMB[P EFMTJTUFNBFOVOUBMMFSQSPGFTJPOBM,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 51. 4 4*45.%46+$*䜝/13/*䜛04 $34 /VFTUSBSFDPNFOEBDJ䜽OMPT OJ䜻PTTJFNQSFFOMPTBTJFOUPT USBTFSPT %735/$* 4VKFUFTJFNQSFBMPTOJ䜻PTDPSSFDUBa NFOUF FOFM WFI䜷DVMP -PT OJ䜻PT EF UPEBTMBTFEBEFTFTU䜫ON䜫TTFHVSPT TJ WJBKBO FO MPT BTJFOUPT USBTFSPT /VODB DPMPRVF VO TJTUFNB EF TVKFa DJ䜽OQBSBOJ䜻PTFOFMBTJFOUPEFMQBa TBKFSPEFMBOUFSPBNFOPTRVFTFIBa ZBEFTBDUJWBEPFMBJSCBH -PTOJ䜻PTNFOPSFTEFB䜻PTEFCFOJS TFOUBEPT TJFNQSF FO MPT BTJFOUPT USBa TFSPTZEFCFOFTUBSEFCJEBNFOUFTVKFa UPTQBSBSFEVDJSFMSJFTHPEFMFTJPOFTFO DBTP EF BDDJEFOUF GSFOBEB CSVTDB P NBOJPCSBSFQFOUJOB 4FH䝄O MBT FTUBE䜷TUJDBT EF BDDJEFOUFT MPTOJ䜻PTHP[BOEFN䜫TTFHVSJEBEDVBOa EPTFTJFOUBOFOMPTBTJFOUPTUSBTFSPTZ OPFOFMEFMBOUFSP-PTOJ䜻PTEFNBTJBEP HSBOEFTQBSBVTBSVOTJTUFNBEFTVKFa DJ䜽O QBSB OJ䜻PT EFCFS䜫O VTBS FM DJOUVa S䜽OEFTFHVSJEBE O NVDIPT QB䜷TFT FYJTUFO OPSNBUJWBT RVFPCMJHBOBVTBSTJTUFNBTEFTVKFDJ䜽O QBSBOJ䜻PTIPNPMPHBEPT -BTMFZFTRVFSFHVMBOMBFEBEPMBBMUVa SBFM QFTP B MPT RVF QVFEF VTBSTF FM DJOUVS䜽OEFTFHVSJEBEFOMVHBSEFTJTUFa NBTEFTVKFDJ䜽OQBSBOJ䜻PTWBS䜷BTFH䝄O DBEB QB䜷T QPS MP RVF EFCF DPOPDFS MPT SFRVJTJUPTDPODSFUPTEFTVQB䜷TZMPTEFM QB䜷TBMRVFWJBKF -PTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTEFa CFO JOTUBMBSTF DPSSFDUBNFOUF FO FM BTJFOUPEFMWFI䜷DVMP%FCFVTBSTJFNQSF VO TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT EJTa QPOJCMFFOFMNFSDBEPRVFSF䝄OBMPTSFa RVJTJUPTEFMPTFTU䜫OEBSFTEFTFHVSJEBE EFTVQB䜷T 4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT $34 -PT CFC䜳T Z MPT OJ䜻PT QFRVF䜻PT EFCFO TVKFUBSTFFOVOTJTUFNBEFTVKFDJ䜽OQBa SB OJ䜻PT DPMPDBEP DPSSFDUBNFOUF FO FM TFOUJEP EF MB NBSDIB P FO TFOUJEP JOa WFSTPBMBNBSDIBRVFTFIBZBTVKFUBEP DPSSFDUBNFOUF BM BTJFOUP EFM WFI䜷DVMP -FBZTJHBMBTJOTUSVDDJPOFTEFJOTUBMBa DJ䜽O Z VTP TVNJOJTUSBEBT QPS FM GBCSJa DBOUF EFM TJTUFNB EF TVKFDJ䜽O QBSB OJa 䜻PT %735/$* 䳜 4JHB TJFNQSF MBT JOTUSVDDJPOFT EFM GBCSJDBOUFEFMTJTUFNBEFTVKFDJ䜽O QBSB OJ䜻PT QBSB TV JOTUBMBDJ䜽O Z VTP 䳜 4VKFUF TJFNQSF DPSSFDUBNFOUF BM OJ䜻PFOFMTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PT 䳜 /PVUJMJDFVOTPQPSUFQBSBOJ䜻PTP VOBTJFOUPEFTFHVSJEBEQBSBOJ䜻PT RVFTFFOHBODIFTPCSFFMSFTQBMa EP QPSRVF QVFEF OP QSPQPSDJPOBS MBQSPUFDDJ䜽OBEFDVBEBFODBTPEF BDDJEFOUF 䳜 5SBTVOBDDJEFOUF VOUBMMFSQSPGFa TJPOBMEFCFSFWJTBSFMTJTUFNB,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP 4FMFDDJ䜽OEFVOTJTUFNBEF TVKFDJ䜽OQBSBOJ䜻PT $34 M TFMFDDJPOBS VO TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PT TJFNQSFTFEFCF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 52. 䳜 TFH䝄SFTFEFRVFFMTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PTQPTFFMBFUJRVFUBRVF DFSUJGJDBRVFSF䝄OFMPTFTU䜫OEBSFTEF TFHVSJEBEEFTVQB䜷T 6OTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTTPa MPEFCFJOTUBMBSTFTJIBTJEPIPNPMPa HBEP VOJWFSTBMNFOUFDPOGPSNF B MPT SFRVJTJUPTEFMBOPSNBUJWB$3P $3 䳜 4FMFDDJPOFVOTJTUFNBEFTVKFDJ䜽OQBa SBOJ䜻PTBEFDVBEPBMQFTPZMBBMUVSB EFM OJ䜻P TUB JOGPSNBDJ䜽O TVFMF FOa DPOUSBSTF FO MB FUJRVFUB DPSSFTQPOa EJFOUFPFOMBTJOTUSVDDJPOFTEFVTP 䳜 MFHJSVOTJTUFNBEFTVKFDJ䜽OQBSBOJa 䜻PT RVF TF BEBQUF B MB QPTJDJ䜽O EFM BTJFOUPFOFMRVFWBBVTBSTF 1BSBMBBEFDVBDJ䜽OEFMPTTJTUFNBTEF TVKFDJ䜽O QBSB OJ䜻PT B MBT QPTJDJPOFT EFM BTJFOUP EFM WFI䜷DVMP DPOTVMUF MBT UBCMBTEFJOTUBMBDJ䜽O 䳜 -FBZTJHBMBTBEWFSUFODJBTFJOTUSVDa DJPOFT EF JOTUBMBDJ䜽O Z VTP TVNJOJTa USBEBTDPOFMTJTUFNBEFTVKFDJ䜽OQBa SBOJ䜻PT 5 5JQPTEFTJTUFNBTEFTVKFDJ䜽OQBSB OJ䜻PT )BZ USFT UJQPT QSJODJQBMFT EF TJTUFNBT EF TVKFDJ䜽O QBSB OJ䜻PT FO TFOUJEP JOa WFSTP B MB NBSDIB FO TFOUJEP EF MB NBSDIBZDPODPK䜷OBM[BEPS 4F DMBTJGJDBO TFH䝄O MB FEBE MB BMUVSB Z FMQFTPEFMOJ䜻P 4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTFOTFOa UJEPJOWFSTPBMBNBSDIB 6O TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT FO TFOUJEPJOWFSTPBMBNBSDIBQSPQPSDJPOB TVKFDJ䜽O DPO MB TVQFSGJDJF EF BTJFOUP DPOUSBMBFTQBMEBEFMOJ䜻PMTJTUFNBEF BSO䜳TTVKFUBBMOJ䜻PFOFMBTJFOUPZ FO DBTP EF BDDJEFOUF BDU䝄B NBOUFOJFOEP BM OJ䜻P FO FM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PTZSFEVDFMBQSFTJ䜽OFOMBTDFSWJDBa MFTZMBDPMVNOBWFSUFCSBMGS䜫HJMFT 5PEPTMPTOJ䜻PTNFOPSFTEFVOB䜻PEFa CFOJSTFOUBEPTFOVOTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PTFOTFOUJEPJOWFSTPBMB NBSDIB )BZ EJGFSFOUFT UJQPT EF TJTUFa NBT EF TVKFDJ䜽O QBSB OJ䜻PT FO TFOUJEP JOWFSTPBMBNBSDIBMPTTJTUFNBTEFTVa KFDJ䜽O QBSB CFC䜳T TPMP TF QVFEFO VTBS FOTFOUJEPJOWFSTPBMBNBSDIB-PTTJTa UFNBTEFTVKFDJ䜽ODPOWFSUJCMFTQBSBOJa 䜻PTZMPTTJTUFNBTFOTVFMFOUFOFS M䜷NJUFTEFBMUVSBZQFTPTVQFSJPSFTFOMB QPTJDJ䜽OFOTFOUJEPJOWFSTPBMBNBSDIB DPOMPDVBMFMOJ䜻PQVFEFWJBKBSFOTFOUJa EP JOWFSTP B MB NBSDIB EVSBOUF N䜫T UJFNQP 6TFMPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT FOTFOUJEPJOWFSTPBMBNBSDIBEVSBOUF UBOUP UJFNQP DPNP FM OJ䜻P QVFEB JS TFOUBEP FO MPT NJTNPT TFH䝄O MPT M䜷NJa UFT EF QFTP Z BMUVSB FTQFDJGJDBEPT QPS FMGBCSJDBOUFEFMPTNJTNPT $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 53. 4 4JTUFNB EF TVKFDJ䜽OQBSB OJ䜻PT FO FM TFOUJEPEFMBNBSDIB 6O TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT FO TFOUJEP EF MB NBSDIB TVKFUB FM DVFSQP EFM OJ䜻P DPO VO BSO䜳T 6TF VO TJTUFNB EFTVKFDJ䜽OQBSBOJ䜻PTFOTFOUJEPEFMB NBSDIBDPOBSO䜳TIBTUBRVFFMOJ䜻PBMa DBODFFMM䜷NJUFEFBMUVSBPQFTPFTQFDJa GJDBEPTQPSFMGBCSJDBOUFEFMNJTNP $VBOEPFMOJ䜻PIBZBTVQFSBEPMPTM䜷NJa UFTQBSBVTBSFMTJTUFNBEFTVKFDJ䜽OQBa SBOJ䜻PTFOTFOUJEPEFMBNBSDIB FMOJa 䜻PQPES䜫VTBSVODPK䜷OBM[BEPS $PKJOFTBM[BEPSFT 6ODPK䜷OBM[BEPSFTVOTJTUFNBEFTVKFa DJ䜽O QBSB OJ䜻PT EJTF䜻BEP DPO FM GJO EF NFKPSBSFMBKVTUFEFMDJOUVS䜽OEFTFHVa SJEBEEFMWFI䜷DVMP6ODPK䜷OBM[BEPSQFSa NJUFDPMPDBSFMDJOUVS䜽OEFTFHVSJEBEEF NPEPRVFTFBKVTUFDPSSFDUBNFOUFTPa CSF MBT QBSUFT N䜫T GVFSUFT EFM DVFSQP EFMOJ䜻P1FSNJUBRVFMPTOJ䜻PTVTFOVO DPK䜷OBM[BEPSIBTUBRVFTFBOMPTVGJDJFOa UFNFOUF HSBOEFT QBSB VTBS DPSSFDUBa NFOUFFMDJOUVS䜽OEFTFHVSJEBE M DJOUVS䜽O EF TFHVSJEBE TF BKVTUB DPa SSFDUBNFOUF DVBOEP MB CBOEB BCEPNJa OBMTFDJ䜻FD䜽NPEBNFOUFBMBQBSUFTVa QFSJPSEFMPTNVTMPT OPTPCSFFMFTU䜽a NBHP-BCBOEBEFMIPNCSPEFCFDF䜻JSa TFD䜽NPEBNFOUFBMIPNCSPZFMQFDIP ZOPSP[BSFMDVFMMPOJMBDBSB-PTOJ䜻PT NFOPSFTEFB䜻PTEFCFOFTUBSEFCJa EBNFOUFTVKFUPTQBSBSFEVDJSFMSJFTHP EFMFTJPOFTFODBTPEFBDDJEFOUF GSFOBa EBCSVTDBPNBOJPCSBSFQFOUJOB *OTUBMBDJ䜽OEFVOTJTUFNBEF TVKFDJ䜽OQBSBOJ䜻PT $34 %735/$* OUFTEFJOTUBMBSFMTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PTTJFNQSFEFCF -FBZTJHBMBTJOTUSVDDJPOFTTVNJOJTa USBEBTQPSFMGBCSJDBOUFEFMTJTUFNB EFTVKFDJ䜽OQBSBOJ䜻PT 4J OP TF TJHVFO UPEBT MBT BEWFSUFOa DJBTFJOTUSVDDJPOFTQPES䜷BBVNFOUBS FM SJFTHP EF -4*0/4 (374 P .635FODBTPEFBDDJEFOUF %735/$* 4J FM SFQPTBDBCF[BT EFM WFI䜷DVMP JNa QJEFJOTUBMBSDPSSFDUBNFOUFFMTJTUFa NB EF TVKFDJ䜽O QBSB OJ䜻PT SFBKVTUF FM SFQPTBDBCF[BT EF MB QPTJDJ䜽O DPa SSFTQPOEJFOUFPFYUS䜫JHBMPQPSDPNa QMFUP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 54. %FTQV䜳T EF TFMFDDJPOBSFM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT BEFDVBEP Z DPNa QSPCBSRVFFMTJTUFNBTFBKVTUBDPSSFDa UBNFOUF B MB QPTJDJ䜽O EFM BTJFOUP IBZ USFTQBTPTC䜫TJDPTRVFTFEFCFOTFHVJS QBSBVOBJOTUBMBDJ䜽ODPSSFDUB 䳜 ' 'JKF GJSNFNFOUF FM TJTUFNB EF TVKFa DJ䜽OQBSBOJ䜻PTBMWFI䜷DVMP5PEPTMPT TJTUFNBT EF TVKFDJ䜽O QBSB OJ䜻PT TF EFCFOGJKBSBMWFI䜷DVMPDPOVODJOUVS䜽O EFTFHVSJEBEBCEPNJOBMPDPOMBCBOa EBBCEPNJOBMEFMDJOUVS䜽OEFTFHVSJa EBEDPOCBOEBBCEPNJOBMZEFMIPNa CSP PDPOVOBDPSSFBTVQFSJPSZPVO BODMBKF*40'*9 TJFTU䜫FRVJQBEP 䳜 TFH䝄SFTFEFRVFFMTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PTFTU䜳GJKBEPGJSNFNFOa UF%FTQV䜳TEFJOTUBMBSFMTJTUFNBEF TVKFDJ䜽OQBSBOJ䜻PTBMWFI䜷DVMP FNQVa KFZUJSFEFMBTJFOUPIBDJBEFMBOUFZB MPT MBEPT QBSB WFSJGJDBS RVF TF IBZB BDPQMBEP GJSNFNFOUF M TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT GJKBEP DPO FM DJOa UVS䜽OEFTFHVSJEBEEFCFFTUBSMPN䜫T GJSNF QPTJCMF /P PCTUBOUF QVFEF EBSTF VO MJHFSP NPWJNJFOUP B MPT MBa EPT MJOTUBMBSVOTJTUFNBEFTVKFDJ䜽OQBa SBOJ䜻PT BKVTUFFMBTJFOUPEFMWFI䜷DVMP Z FM SFTQBMEP IBDJB BSSJCB Z BCBKP IBDJBEFMBOUFZBUS䜫T EFNPEPRVFFM OJ䜻P QVFEB TFOUBSTF D䜽NPEBNFOUF FOFMTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT 䳜 4 4VKFUFBMOJ䜻PFOFMTJTUFNBEFTVKFa DJ䜽OQBSBOJ䜻PTTFH䝄SFTFEFRVFFM OJ䜻PFTU䜳DPSSFDUBNFOUFTVKFUPFOFM TJTUFNB EF TVKFDJ䜽O DPO MBT DPSSFBT TJHVJFOEP MBT JOTUSVDDJPOFT EFM GBCSJa DBOUF 5/$*䜝/ 6OTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTFO VO WFI䜷DVMP DFSSBEP QVFEF DBMFOUBSa TF 1BSB FWJUBS RVFNBEVSBT DPNa QSVFCFMBTVQFSGJDJFEFMBTJFOUPZMBT IFCJMMBTBOUFTEFDPMPDBSBMOJ䜻PFOFM TJTUFNBEFTVKFDJ䜽O ODMBKF*40'*9ZBODMBKFEF DPSSFBTVQFSJPS TJTUFNBEF BODMBKFT*40'*9 QBSBOJ䜻PT M TJTUFNB *40'*9 TVKFUB FM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT EVSBOUF MB DPOEVDa DJ䜽OZFODBTPEFBDDJEFOUFMTJTUFNB TFIBDPODFCJEPQBSBGBDJMJUBSMBJOTUBMBa DJ䜽OEFMTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT ZSFEVDJSMBQPTJCJMJEBEEFJOTUBMBSMPJOa DPSSFDUBNFOUF M TJTUFNB *40'*9 VTB BODMBKFTFOFMWFI䜷DVMPZBDPQMBNJFOUPT FOFMTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTM TJTUFNB *40'*9 FMJNJOB MB OFDFTJEBE EF VTBS MPT DJOUVSPOFT EF TFHVSJEBE QBSB GJKBS FM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT FOFMBTJFOUPUSBTFSP -PT BODMBKFT *40'*9 TPO CBSSBT NFU䜫MJa DBTJODPSQPSBEBTFOFMWFI䜷DVMPYJTUFO EPT BODMBKFT JOGFSJPSFT QBSB DBEB QPTJa DJ䜽O EF BTJFOUP *40'*9 QBSB BDPQMBS VO TJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTDPOBDPa QMBEPSFTJOGFSJPSFT 1BSBVTBSFMTJTUFNB*40'*9EFMWFI䜷DVMP TFSFRVJFSFVOTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PTDPOBDPQMBEPSFT*40'*9 M GBCSJDBOUF EFM TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PTTVNJOJTUSBMBTJOTUSVDDJPOFT QBSBVTBSFMNJTNPDPOTVTBDPQMBEPSFT FOMPTBODMBKFT*40'*9 $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 55. -PT BODMBKFT *40'*9TF FODVFOUSBO FO MBTQPTJDJPOFTMBUFSBMFTEFMBTJFOUPUSBa TFSP EFSFDIP F J[RVJFSEP -BT VCJDBa DJPOFTTFNVFTUSBOFOMBJMVTUSBDJ䜽O %735/$* /PJOUFOUFNPOUBSVOTJTUFNBEFTVa KFDJ䜽OQBSBOJ䜻PTDPOBODMBKFT*40'*9 FOMBQPTJDJ䜽ODFOUSBMEFMBTJFOUPUSBa TFSPTUFBTJFOUPOPEJTQPOFEFBOa DMBKFT *40'*9 M VTP EF MPT BODMBKFT EF MPT BTJFOUPT FYUFSJPSFT QBSB MB JOTUBMBDJ䜽O EFM TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PTFOMBQPTJDJ䜽ODFOUSBMEFM $POUJO䝄B $POUJO䝄B BTJFOUPUSBTFSP QVFEFEB䜻BSMPTBOa DMBKFT -PTBODMBKFT*40'*9FTU䜫ODPMPDBEPTFOa USFFMSFTQBMEPZFMDPK䜷OEFMBTQPTJDJPa OFTEFSFDIBFJ[RVJFSEBEFMBTJFOUPUSBa TFSP JOEJDBEPTDPOMPTT䜷NCPMPT 䙓 JOEJDBEPSEFQPTJDJ䜽OEFMBODMBKF *40'*9 UJQP UJQP # BODMBKF*40'*9 'JKBSVOTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PTDPOFM4JTUFNBEFBODMBKF *40'*9 1BSBJOTUBMBSVOTJTUFNBEFTVKFDJ䜽OQBa SBOJ䜻PTJ4J[FPDPNQBUJCMFDPO*40'*9 FOVOPEFMPTBTJFOUPTMBUFSBMFTUSBTFa SPT MFKFMBIFCJMMBEFMDJOUVS䜽OEFTFHVa SJEBEEFMPTBODMBKFT*40'*9 MFKF EF MPT BODMBKFT UPEP PCKFUP RVF QVEJFSB JNQFEJS VOB DPOFYJ䜽O TFHVSBFOUSFFMTJTUFNBEFTVKFDJ䜽O QBSB OJ䜻PT Z MPT BODMBKFT JOGFSJPSFT *40'*9 $PMPRVFFMTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PTTPCSFFMBTJFOUPEFMWFI䜷DVMPZ BD䜽QMFMPBMPTBODMBKFT*40'*9TFH䝄O MBTJOTUSVDDJPOFTTVNJOJTUSBEBTQPS FMGBCSJDBOUFEFEJDIPTJTUFNB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 56. 4JHBMBTJOTUSVDDJPOFTEFMGBCSJDBOUF EFM TJTUFNB EFTVKFDJ䜽O QBSB OJ䜻PT QBSB VOB JOTUBMBDJ䜽O Z DPOFYJ䜽O BEFDVBEBT EF MPT BDPQMBEPSFT *40a '*9EFMTJTUFNBEFTVKFDJ䜽OQBSBOJa 䜻PTDPOMPTBODMBKFT*40'*9 %735/$* M VTBS FM TJTUFNB *40'*9 UPNF MBT QSFDBVDJPOFTTJHVJFOUFT 䳜 -FBZTJHBMBTJOTUSVDDJPOFTEFJOTa UBMBDJ䜽ORVFBDPNQB䜻BOFMTJTUFNB EFTVKFDJ䜽OQBSBOJ䜻PT 䳜 1BSB JNQFEJS RVF FM OJ䜻P BMDBODF MPTDJOUVSPOFTEFTFHVSJEBEOPSFa USB䜷EPT BCSPDIFUPEPTMPTDJOUVSPa OFT EF TFHVSJEBE USBTFSPT RVF OP TFVTFOZSFUSBJHBMBDPSSFBEFMDJOa UVS䜽OEFTFHVSJEBEEFUS䜫TEFMOJ䜻P M OJ䜻P QPES䜷B FTUSBOHVMBSTF TJ MB CBOEBEFMIPNCSPMFSPEFBFMDVFa MMP Z FM DJOUVS䜽O EF TFHVSJEBE TF UFOTB 䳜 /0 BDPQMF N䜫T EF VO TJTUFNB EF TVKFDJ䜽OQBSBOJ䜻PTFOVOTPMPBOa DMBKF%FMPDPOUSBSJP FMBODMBKFPFM BDPQMBEPSQPES䜷BTPMUBSTFPSPNQFa STF $POUJO䝄B $POUJO䝄B 䳜 )BHBSFWJTBSFMTJTUFNB*40'*9QPS FMEJTUSJCVJEPSEFTQV䜳TEFVOBDDJa EFOUF 6O BDDJEFOUF QPES䜷B DBVTBS EB䜻PTFOFMTJTUFNB*40'*9ZFTUF QPES䜷B OP BTFHVSBS GJSNFNFOUF FM TJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT 'JKBSVOBTJFOUPEFMTJTUFNBEF TVKFDJ䜽OEFMOJ䜻PDPOFMTJTUFNBEF 䳖ODMBKFEFDPSSFBTVQFSJPS䳗 TJFTU䜫 FRVJQBEP -PTBODMBKFTEFDPSSFBTVQFSJPSQBSBFM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT TF FOa DVFOUSBOFOMBQBSUFUSBTFSBEFMSFTQBMa EPEFMBTJFOUPUSBTFSP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 57. $PMPRVFMBDPSSFBTVQFSJPSEFMTJTUFa NBEFTVKFDJ䜽OQBSBOJ䜻PTTPCSFFM SFTQBMEPMDPMPDBSMBDPSSFBTVQFa SJPS TJHBMBTJOTUSVDDJPOFTEFMGBCSJa DBOUFEFMTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PT $POFDUFMBDPSSFBTVQFSJPSBMBODMBKF QBSBMB NJTNB Z B DPOUJOVBDJ䜽O BQSJFUF MB DPSSFB TJHVJFOEP MBT JOTa USVDDJPOFT EFM GBCSJDBOUF EFM TJTUFa NBEFTVKFDJ䜽OQBSBOJ䜻PTQBSBGJKBS GJSNFNFOUF FM TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PTBMBTJFOUP %735/$* M JOTUBMBS MB DPSSFB TVQFSJPS UPNF MBTQSFDBVDJPOFTTJHVJFOUFT 䳜 -FBZTJHBMBTJOTUSVDDJPOFTEFJOTa UBMBDJ䜽ORVFBDPNQB䜻BOFMTJTUFNB EFTVKFDJ䜽OQBSBOJ䜻PT 䳜 /0 BDPQMF N䜫T EF VO TJTUFNB EF TVKFDJ䜽OQBSBOJ䜻PTFOVOTPMPBOa DMBKFEFDPSSFBTVQFSJPS*40'*9%F MPDPOUSBSJP FMBODMBKFPFMBDPQMBa EPSQPES䜷BTPMUBSTFPSPNQFSTF 䳜 /PBDPQMFMBDPSSFBTVQFSJPSBOBEB RVFOPTFBFMBODMBKFDPSSFDUPEFMB DPSSFB TVQFSJPS %F MP DPOUSBSJP QPES䜷B OP GVODJPOBS DPSSFDUBNFOa UF 䳜 -PT BODMBKFT EFM TJTUFNB EF TVKFa DJ䜽O QBSB OJ䜻PT FTU䜫O EJTF䜻BEPT QBSBBHVBOUBSTPMPBRVFMMBTDBSHBT RVFTFQSPEVDFOBMMMFWBSDPSSFDUBa NFOUFGJKBEPFMTJTUFNBEFTVKFDJ䜽O QBSBOJ䜻PT OOJOH䝄ODBTPEFCFOVTBSTFQBSB DJOUVSPOFTEFTFHVSJEBEQBSBBEVMa UPTOJQBSBBSOFTFT ZUBNQPDPQBa SBBDPQMBSPUSPTPCKFUPTOJFRVJQBa NJFOUPBMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 58. EFDVBDJ䜽OEFDBEBQPTJDJ䜽OEFBTJFOUPQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9DPOGPSNFBMBOPSNBUJWB$ (SVQPEFQFTP 5JQPEFUBNB䜻P 'JKBDJ䜽O 1PTJDJPOFT*40'*9EFMWFI䜷DVMP 䛴䛴GJMB 1BTBKFSP -BEPJ[RVJFSEP $FOUSBM -BEPEFSFDIP $BQB[P ' *40- / 9 / 9 ( *40- / 9 / 9 )BTUBLH *403 / *- / *- )BTUBLH *403 / *- / *- % *403 / *- / *- $ *403 / 9 / 9 *BLH % *403 / *- / *- $ *403 / *- / *- # *40' / *6' *- / *6' *- # *40'9 / *6' *- / *6' *- *40' / *6' *- / *6' *- *6' EFDVBEPQBSBTJTUFNBTVOJWFSTBMFTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9BQSPCBEPTQBSBTVVTPFOFTUFHSVQPEFQFTP *- QSPCBEPQBSBEFUFSNJOBEPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9 $34 QSPQPSDJPOBEPTFOMBMJTUBBEKVOUB TJFOUPEFMBOUFSPMBQPTJDJ䜽OEFMBTJFOUPTFEFCFS䜫EFTQMB[BSVOBNVFTDBQPSEFMBOUFEFMBQPTJDJ䜽OJOUFSNFEJB *- QSPCBEPQBSBEFUFSNJOBEPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9 $34 QSPQPSDJPOBEPTFOMBMJTUBBEKVOUBTUPT TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9$34QFSUFOFDFOBMBTDBUFHPS䜷BTEFWFI䜷DVMPFTQFD䜷GJDP MJNJUBEPPTFNJ VOJWFSTBM 9 1PTJDJ䜽O*40'*9OPBEFDVBEBQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PT*40'*9FOFTUFHSVQPEFQFTPZPFOFTUFUBNBa 䜻P *40'TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBEFMBOUFEFBMUVSBDPNQMFUB BMUVSBNN # *40'TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBEFMBOUFEFBMUVSBSFEVDJEB BMUVSBNN $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 59. # *40'9TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBEFMBOUFDPOMBGPSNBEFMBTVQFSGJDJFUSBTFSBEFMBTFa HVOEBWFSTJ䜽OEFBMUVSBSFEVDJEB BMUVSBNN $*403TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBBUS䜫TEFUBNB䜻PDPNQMFUP % *403TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBBUS䜫TEFUBNB䜻PSFEVDJEP *403TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBBUS䜫TEFUBNB䜻PJOGBOUJM ' *40-TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBFMMBUFSBMJ[RVJFSEP DBQB[P ( *40-TJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTPSJFOUBEPTIBDJBFMMBUFSBMEFSFDIP DBQB[P ' 'JKBSVOTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PTDPOVODJOUVS䜽O BCEPNJOBMEFMIPNCSP $VBOEP OP TF VTF FM TJTUFNB *40'*9 BTFHVSF MPT TJTUFNBT EF TVKFDJ䜽O QBSB OJ䜻PT BM BTJFOUP USBTFSP DPO MB CBOEB BCEPNJOBM EFM DJOUVS䜽O EF TFHVSJEBE DPOCBOEBBCEPNJOBMZEFMIPNCSP *OTUBMBDJ䜽O EF VO TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT DPO VO DJOUVS䜽O BCEPNJOBMEFMIPNCSP 1BSBJOTUBMBSVOTJTUFNBEFTVKFDJ䜽OQBa SB OJ䜻PT FO MPT BTJFOUPT USBTFSPT QSPa DFEBDPNPTJHVF $PMPRVFFMTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PTFOVOBTJFOUPUSBTFSPZMMFWF MBCBOEBBCEPNJOBMEFMIPNCSPBMa SFEFEPS P B USBW䜳T EFM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT TJHVJFOEP MBT JOTUSVDDJPOFTEFMGBCSJDBOUFEFMTJTa UFNBEFTVKFDJ䜽OQBSBOJ䜻PT TFH䝄SFTFEFRVFMBDJODIBOPFTU䜳 UPSDJEB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 60. CSPDIFMBMFOH䝆FUBEFMBCBOEBBCa EPNJOBMEFM IPNCSP FOMB IFCJMMB %FCFS䜫FTDVDIBSVODMJDL$PMPRVF FMCPU䜽OEFMJCFSBDJ䜽OEFNPEPRVF TFBG䜫DJMBDDFEFSBMNJTNPFODBTP EFFNFSHFODJB MJNJOFMBNBZPSDBOUJEBEEFIPMHVa SB EFM DJOUVS䜽O DPNP TFB QPTJCMF FNQVKBOEP FM TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PTIBDJBBCBKPNJFOUSBTIBa DFSFHSFTBSMBQBSUFEFMIPNCSPEFM DJOUVS䜽OEFTFHVSJEBEBMJOUFSJPSEFM SFUSBDUPS 5JSF EFM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT QBSB DPOGJSNBS RVF FM DJOUVa S䜽O EF TFHVSJEBE MP TVKFUB GJSNFa NFOUF 4JFMGBCSJDBOUFEFMTJTUFNBEFTVKFDJ䜽O QBSB OJ䜻PT SFDPNJFOEB FM VTP EF VOB DPSSFB TVQFSJPS DPO CBOEB BCEPNJOBMEFMIPNCSP 1BSBSFUJSBSFMTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PT QVMTFFMCPU䜽OEFMJCFSBDJ䜽OFOMB IFCJMMBZUJSFEFMBCBOEBBCEPNJOBMEFM IPNCSPEFMDJOUVS䜽OEFKBOEPRVFTFSFa USBJHBQPSDPNQMFUP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 61. EFDVBDJ䜽OEFDBEBQPTJDJ䜽OEFBTJFOUPQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPODJOUVS䜽OEFMBDBUFHPS䜷B VOJWFSTBM DPOGPSNFBMBOPSNBUJWB$ BTJFOUPTUSBTFSPTQBSBQFSTPOBTQBSBVSPQB 6UJMJDFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTRVFFTU䜳OIPNPMPHBEPTZRVFTFBOBEFDVBEPTQBSBFMOJ䜻PMVUJMJ[BSMPTTJTUFNBTEF TVKFDJ䜽OQBSBOJ䜻PT DPOTVMUFMBUBCMBTJHVJFOUF (SVQPEFQFTP 1PTJDJ䜽OEFMBTJFOUP 5SBTFSPEFMQBTBKFSPEFMBOUFSP 4FHVOEBGJMB JSCBHBDUJWBEP JSCBHEFTBDUJWBEP 5SBTFSPJ[RVJFSEP 5SBTFSPEFSFDIP (SVQP NFTFT IBTUBLH 9 6 6 6 (SVQP B䜻PT IBTUBLH 9 6 6 6 (SVQP* NFTFT B䜻PT EFBLH 9 6 6 6 (SVQP** EFBLH EFBLH 6' 6 6 6 (SVQP*** EFBLH EFBLH 6' 6 6 6 6 EFDVBEPQBSBMBDBUFHPS䜷B䳖VOJWFSTBM䳗EFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTBQSPCBEPTQBSBTVVTPFOFTUFHSVQPEF QFTP 6 EFDVBEPQBSBMBDBUFHPS䜷BVOJWFSTBMEFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPOFM䜫OHVMPEFMSFTQBMEPFOQPTJDJ䜽O WFSUJDBM 6' EFDVBEPQBSBTJTUFNBTVOJWFSTBMFTEFTVKFDJ䜽OPSJFOUBEPTFOFMTFOUJEPEFMBNBSDIBBQSPCBEPTQBSBTVVTPFO FTUFHSVQPEFQFTP - EFDVBEPQBSBEFUFSNJOBEPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTQSPQPSDJPOBEPTFOMBMJTUBBEKVOUBTUPTTJTUFNBT QPES䜷BOQFSUFOFDFSBMBTDBUFHPS䜷BTEFWFI䜷DVMPFTQFD䜷GJDP MJNJUBEPPTFNJVOJWFSTBM # 4VKFDJ䜽OJODPSQPSBEBBQSPCBEBQBSBFTUFHSVQPEFQFTP 9 1PTJDJ䜽OEFMBTJFOUPOPBEFDVBEBQBSBOJ䜻PTEFFTUFHSVQPEFQFTP 䙓 /PDPMPRVFOVODBVOTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTDPOVOBQBUBEFTPQPSUFFOFMBTJFOUPEFMQBTBKFSPEFMBOUFSPZFOFM BTJFOUPDFOUSBMEFMBTFHVOEBGJMB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 62. EFDVBDJ䜽OEFDBEBQPTJDJ䜽OEFBTJFOUPQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPODJOUVS䜽OEFMBDBUFHPS䜷B VOJWFSTBM DPOGPSNFBMBOPSNBUJWB$ BTJFOUPTUSBTFSPTQBSBQFSTPOBTQBSBVSPQB 6UJMJDFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTRVFFTU䜳OIPNPMPHBEPTZRVFTFBOBEFDVBEPTQBSBFMOJ䜻PMVUJMJ[BSMPTTJTUFNBTEF TVKFDJ䜽OQBSBOJ䜻PT DPOTVMUFMBUBCMBTJHVJFOUF (SVQPEFQFTP 1PTJDJ䜽OEFMBTJFOUP 5SBTFSPEFMQBTBKFSPEFMBOUFSP 4FHVOEBGJMB JSCBHBDUJWBEP JSCBHEFTBDUJa WBEP 5SBTFSPJ[RVJFSa EP $FOUSBM $*/563䜝/% 16/504 5SBTFSPEFSFDIP (SVQP NFTFT IBTUBLH 9 6 6 9 6 (SVQP B䜻PT IBTUBLH 9 6 6 9 6 (SVQP* NFTFT B䜻PT EFB LH 9 6 6 9 6 (SVQP** EFB LH EFB LH 6' 6 6 9 6 (SVQP*** EFB LH EFB LH 6' 6 6 9 6 6 EFDVBEPQBSBMBDBUFHPS䜷B䳖VOJWFSTBM䳗EFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTBQSPCBEPTQBSBTVVTPFOFTUFHSVQPEF QFTP 6 EFDVBEPQBSBMBDBUFHPS䜷BVOJWFSTBMEFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPOFM䜫OHVMPEFMSFTQBMEPFOQPTJDJ䜽O WFSUJDBM 6' EFDVBEPQBSBTJTUFNBTVOJWFSTBMFTEFTVKFDJ䜽OPSJFOUBEPTFOFMTFOUJEPEFMBNBSDIBBQSPCBEPTQBSBTVVTPFO FTUFHSVQPEFQFTP - EFDVBEPQBSBEFUFSNJOBEPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTQSPQPSDJPOBEPTFOMBMJTUBBEKVOUBTUPTTJTUFNBT QPES䜷BOQFSUFOFDFSBMBTDBUFHPS䜷BTEFWFI䜷DVMPFTQFD䜷GJDP MJNJUBEPPTFNJVOJWFSTBM # 4VKFDJ䜽OJODPSQPSBEBBQSPCBEBQBSBFTUFHSVQPEFQFTP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 63.
- 64. EFDVBDJ䜽OEFDBEBQPTJDJ䜽OEFBTJFOUPQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPODJOUVS䜽OEFMBDBUFHPS䜷B VOJWFSTBM DPOGPSNFBMBOPSNBUJWB$ FYDFQUPVSPQB 6UJMJDFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTRVFFTU䜳OIPNPMPHBEPTZRVFTFBOBEFDVBEPTQBSBFMOJ䜻PMVUJMJ[BSMPTTJTUFNBTEF TVKFDJ䜽OQBSBOJ䜻PTDPOTVMUFMBUBCMBTJHVJFOUF (SVQPEFQFTP 1PTJDJ䜽OEFMBTJFOUP 5SBTFSPEFMQBa TBKFSPEFMBOUFSP 4FHVOEBGJMB JSCBHBDUJWBEP 5SBTFSPJ[RVJFSa EP $FOUSBM $*/563䜝/% 16/504 $FOUSBM $*/563䜝/% 16/504 5SBTFSPEFSFDIP (SVQP NFTFT IBTUB LH 6 6 9 9 6 (SVQP B䜻PT IBTUB LH 6 6 9 9 6 (SVQP* NFTFT B䜻PT EFB LH 6 6 9 9 6 (SVQP** EFB LH EFB LH 6 6 9 9 6 (SVQP*** EFB LH EFB LH 6 6 9 9 6 6 EFDVBEPQBSBMBDBUFHPS䜷B䳖VOJWFSTBM䳗EFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTBQSPCBEPTQBSBTVVTPFOFTUFHSVQPEF QFTP 6 EFDVBEPQBSBMBDBUFHPS䜷BVOJWFSTBMEFTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTDPOFM䜫OHVMPEFMSFTQBMEPFOQPTJDJ䜽O WFSUJDBM 6' EFDVBEPQBSBTJTUFNBTVOJWFSTBMFTEFTVKFDJ䜽OPSJFOUBEPTFOFMTFOUJEPEFMBNBSDIBBQSPCBEPTQBSBTVVTPFO FTUFHSVQPEFQFTP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 65. - EFDVBEPQBSBEFUFSNJOBEPTTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTQSPQPSDJPOBEPTFOMBMJTUBBEKVOUBTUPTTJTUFNBT QPES䜷BOQFSUFOFDFSBMBTDBUFHPS䜷BTEFWFI䜷DVMPFTQFD䜷GJDP MJNJUBEPPTFNJVOJWFSTBM #4VKFDJ䜽OJODPSQPSBEBBQSPCBEBQBSBFTUFHSVQPEFQFTP 9 1PTJDJ䜽OEFMBTJFOUPOPBEFDVBEBQBSBOJ䜻PTEFFTUFHSVQPEFQFTP 䙓 /PDPMPRVFOVODBVOTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTDPOVOBQBUBEFTPQPSUFFOFMBTJFOUPEFMQBTBKFSPEFMBOUFSPZFOFM BTJFOUPDFOUSBMEFMBTFHVOEBGJMB $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 66. 4 4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTJ4J[FDPOGPSNFBMBTOPSNBUJWBT$ (SVQPEFQFTP 1PTJDJ䜽OEFMBTJFOUP 5SBTFSPEFMQBTBKFSP EFMBOUFSP 4FHVOEBGJMB 5SBTFSPJ[RVJFSEP $FOUSBM 5SBTFSPEFSFDIP 4JTUFNBTEFTVKFDJ䜽O QBSBOJ䜻PTJTJ[F 9J6 9 J6 J6 EFDVBEPQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTJ4J[FVOJWFSTBMFTPSJFOUBEPTFOFMTFOUJEPEFMBNBSDIBZFOFM TFOUJEPJOWFSTPEFMBNBSDIB J6' EFDVBEP䝄OJDBNFOUFQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTJ4J[FVOJWFSTBMFT 9 1PTJDJ䜽OEFMBTJFOUPOPBEFDVBEBQBSBTJTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTJ4J[F $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 67. 4 4JTUFNBTEFTVKFDJ䜽OQBSBOJ䜻PTSFDPNFOEBEPTQBSBVSPQB (SVQPEFQFTP /PNCSF 'BCSJDBOUF5JQPEFGJKBDJ䜽O /䜄EFBQSPCBDJ䜽O$ 3 (SVQP $BCSJPGJYZ'BNJMZa GJY .BYJ$PTJ 1PTJDJ䜽OFOTFOUJEPJOWFSTPBMB NBSDIBDPOMBCBTF*40'*9 (SVQP* %VP1MVT #SJUBY3䝀NFS 1PTJDJ䜽OFOTFOUJEPEFMBNBSDIB DPO*40'*9ZDPSSFBTVQFSJPS (SVQP** ,JE'JYǎ91 #SJUBY3䝀NFS 1PTJDJ䜽OFOTFOUJEPEFMBNBSDIB DPO*40'*9ZDJOUVS䜽O (SVQP*** +VOJPS*** (SBDP 1PTJDJ䜽OFOTFOUJEPEFMBNBSDIB DPODJOUVS䜽O 䙓 (SBDP+VOJPS***TFVUJMJ[BS䜫TJOSFTQBMEP *OGPSNBDJ䜽OEFMGBCSJDBOUFEFMTJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT #SJUBY3䝀NFS IUUQXXXCSJUBYDPN (SBDP IUUQXXXHSBDPCBCZDPN .BYJ$PTJ IUUQXXXNBYJDPTJDPN $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 68. *3#(4*45.%46+$*䜝/461-./53*0 4*45䜋26*1%0 JSCBHGSPOUBMEFMDPOEVDUPS JSCBHGSPOUBMEFMBDPNQB䜻BOUF JSCBHMBUFSBM JSCBHEFDPSUJOB JSCBHEFSPEJMMBEFMDPOEVDUPS *OUFSSVQUPS EF BDUJWBDJ䜽OEFTBDUJa WBDJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF %735/$* 䳜 *ODMVTPFOMPTWFI䜷DVMPTDPOBJSCBH VTUFE Z TVT BDPNQB䜻BOUFT EFCFO MMFWBS TJFNQSF MPT DJOUVSPOFT EF TFHVSJEBEQBSBNJOJNJ[BSMPTSJFTa HPT Z MB HSBWFEBE EF MBT MFTJPOFT FODBTPEFVOBDPMJTJ䜽OHSBWFPVO WVFMDP $POUJO䝄B TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 69. $POUJO䝄B 䳜 -PT 434Z MPT QSFUFOTPSFT DPOUJFa OFO TVTUBODJBT RV䜷NJDBT FYQMPTJa WBT 4J SBTDB FM WFI䜷DVMP TJO SFUJSBS MPT 434ZMPTQSFUFOTPSFTEFMWFI䜷DVMP QPES䜷BQSPWPDBSVOJODFOEJPOUFT EFEFTHVB[BSVOWFI䜷DVMP Q䜽OHBTF FODPOUBDUPDPOVOUBMMFSQSPGFTJPa OBM,JBSFDPNJFOEBWJTJUBSVODFOa USP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 䳜 MFKF MBT QJF[BT Z FM DBCMFBEP EFM 434EFBHVBZM䜷RVJEP4JMPTDPNa QPOFOUFT EFM 434 OP QVFEFO GVOa DJPOBS EFCJEP B MB FYQPTJDJ䜽O B BHVB P M䜷RVJEPT QPES䜷BO QSPWPDBS VOJODFOEJPPMFTJPOFTHSBWFT 'VODJPOBNJFOUPEFMTJTUFNBEF BJSCBH 䳜 -PTBJSCBHTFTU䜫OBDUJWBEPT QSFQBSBa EPTQBSBJOGMBSTJGVFTFOFDFTBSJP TPa MPDVBOEPFMJOUFSSVQUPSEFFODFOEJEP FTU䜫 DPMPDBEP FO MB QPTJDJ䜽O 0/ P 4535 䳜 -PTBJSCBHTTFEFTQMJFHBOJONFEJBUBa NFOUFFODBTPEFQSPEVDJSTFVOBDPMJa TJ䜽OGSPOUBMPMBUFSBMTFSJB TJFMWFI䜷a DVMP FTU䜫 FRVJQBEP DPO BJSCBHT MBUFa SBMFTPEFDPSUJOB DPOFMGJOEFQSPUFa HFS B MPT PDVQBOUFT EFM WFI䜷DVMP EF HSBWFTMFTJPOFTG䜷TJDBT /05 4JFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP -PTBJSCBHTTFEFTQMJFHBOJONFEJBUBa NFOUFFODBTPEFWVFMDP TJFMWFI䜷a DVMPFTU䜫FRVJQBEPDPOBJSCBHTMBUFa SBMFTPEFDPSUJOB DPOFMGJOEFQSPa UFHFS B MPT PDVQBOUFT EF HSBWFT MFa TJPOFTG䜷TJDBT 䳜 O DPOEJDJPOFT OPSNBMFT FM BJSCBH FTU䜫 EJTF䜻BEP QBSB EFTQMFHBSTF TFa H䝄OFM䜫OHVMPZMBJOUFOTJEBEEFMBDPa MJTJ䜽OTUPTEPTGBDUPSFTTPOFMFNFOa UPT DMBWFT QBSB EFDJEJS TJ TF EFCF USBOTNJUJS MB TF䜻BM EF EFTQMJFHVF EFM BJSCBH P JOJDJBS FM GVODJPOBNJFOUP FM䜳DUSJDP 䳜 M BJSCBH TF EFTQMFHBS䜫 TFH䝄O FM 䜫Oa HVMPZMBJOUFOTJEBEEFMBDPMJTJ䜽O/P TF EFTQMFHBS䜫 FO DVBMRVJFS TJUVBDJ䜽O EFDIPRVFPDPMJTJ䜽O 䳜 -PTBJSCBHTEFMBOUFSPTTFJOGMBOZEFa TJOGMBODPNQMFUBNFOUFFOVOJOTUBOa UF T QS䜫DUJDBNFOUF JNQPTJCMF RVF WFB D䜽NPTFJOGMBOMPTBJSCBHTEVSBOUFVO BDDJEFOUF -P N䜫T QSPCBCMF FT RVF T䜽MP WFB MPT BJSCBHT EFTJOGMBEPT DPMHBOEP EF MPT DPNQBSUJNFOUPT DPSSFTQPOEJFOUFT EFTQV䜳TEFMBDPMJTJ䜽O $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 70. 䳜 1BSB QPEFSQSPQPSDJPOBS QSPUFDDJ䜽O FOVOBDPMJTJ䜽OHSBWF MPTBJSCBHTEFa CFO JOGMBSTF S䜫QJEBNFOUF -B WFMPDJa EBE EF JOGMBEP EFM BJSCBH FT DPOTFa DVFODJB EFM CSFWF FTQBDJP EF UJFNQP FOFMRVFUJFOFMVHBSVOBDPMJTJ䜽OZMB OFDFTJEBE EF RVF FM BJSCBH TF JOGMF FOUSF FM PDVQBOUF Z MBT FTUSVDUVSBT EFMWFI䜷DVMP BOUFTEFRVFFMPDVQBOUF TVGSB VO JNQBDUP DPOUSB EJDIBT FTa USVDUVSBT -BWFMPDJEBEEFMJOGMBEPSFEVDFFMSJFTa HP EF MFTJPOFT HSBWFT P NPSUBMFT FO DBTPEFDPMJTJ䜽OCSVTDBZ QPSFMMP TF USBUB EF VO DPNQPOFOUF OFDFTBSJP QBSBFMEJTF䜻PEFMBJSCBH 4JOFNCBSHP FMEFTQMJFHVFEFMBJSCBH UBNCJ䜳OQVFEFDBVTBSMFTJPOFT FOUSF MBT RVF EFTUBDBO SBTHV䜻PT GBDJBMFT DPOUVTJPOFTZSPUVSBEFIVFTPTEFCJa EP B RVF MB SBQJEF[ EFM JOGMBEP IBDF RVFMPTBJSCBHTTFFYQBOEBODPOHSBO GVFS[B 䳜 ) )BZJODMVTPDJSDVOTUBODJBTFOMBTRVF FMDPOUBDUPDPOFMBJSCBHTJUVBEPFOFM WPMBOUFQVFEFDBVTBSMFTJPOFTNPSUBa MFT TPCSF UPEP TJ FM PDVQBOUF FTU䜫 TFOUBEPFYDFTJWBNFOUFDFSDBEFMWPa MBOUF %735/$* 䳜 1BSB FWJUBS MFTJPOFT QFSTPOBMFT HSBWFTPNVFSUFQPSFMEFTQMJFHVF EFMPTBJSCBHTFODBTPEFDPMJTJ䜽O FM DPOEVDUPS EFCFS䜷B TFOUBSTF UBO TFQBSBEPEFMBJSCBHEFMWPMBOUFEF EJSFDDJ䜽O DPNP GVFSB QPTJCMF BM NFOPTBNNEFEJTUBODJB M QBTBKFSP EFMBOUFSP EFCFS䜷B NPWFS TV BTJFOUP UBO BUS䜫T DPNP GVFSB QPTJCMFZTFOUBSTFIBDJBBUS䜫TFOFM BTJFOUP 䳜 O DBTP EF DPMJTJ䜽O FM BJSCBH TF JOGMBJONFEJBUBNFOUF TJFOEPQPTJa CMF RVF MPT BDPNQB䜻BOUFT TVGSBO MFTJPOFTQPSMBGVFS[BEFFYQBOTJ䜽O EFMBJSCBHTJOPFTU䜫OTFOUBEPTFO QPTJDJ䜽ODPSSFDUB 䳜 M JOGMBEP EFM BJSCBH QVFEF QSPWPa DBS MFTJPOFT DPNP BCSBTJPOFT GBa DJBMFTPDPSQPSBMFT MFTJPOFTEFCJEP BMBSPUVSBEFDSJTUBMFTPRVFNBEVa SBT 3VJEPZIVNP $VBOEPFMBJSCBHTFJOGMB TFFTDVDIBVO SVJEPGVFSUFZEFKBIVNPZQPMWPFOFM BJSF EFM JOUFSJPS EFM WFI䜷DVMP TUP FT OPSNBMZFTDPOTFDVFODJBEFMFODFOEJEP EFMJOGMBEPSEFMBJSCBH%FTQV䜳TEFRVF FMBJSCBHTFJOGMF TFOUJS䜫VONBMFTUBSBM SFTQJSBSEFCJEPBMDPOUBDUPEFTVQFDIP DPO FM DJOUVS䜽O Z FM BJSCBH BEFN䜫T EF QPSSFTQJSBSFMIVNPZFMQPMWP CSBMBT QVFSUBTZPMBTWFOUBOBTDPOMBNBZPS CSFWFEBE QPTJCMF EFTQV䜳T EFM JNQBDUP QBSB SFEVDJS FM NBMFTUBS Z FWJUBS VOB FYQPTJDJ䜽OQSPMPOHBEBBMIVNPZBMQPMa WP VORVFFMIVNPZFMQPMWPOPTFBOU䜽YJa DPT QVFEFO DBVTBS JSSJUBDJ䜽O B MB QJFM PKPT OBSJ[ HBSHBOUB FUD 4JFTUFFTFM DBTP M䜫WFTF JONFEJBUBNFOUF DPO BHVB GS䜷BZDPOTVMUFBVON䜳EJDPTJMPTT䜷OUPa NBTQFSTJTUFO %735/$* $VBOEP FM BJSCBH TF EFTQMJFHB MBT QJF[BTBEZBDFOUFTBMBJSCBHFOFMWPa MBOUF ZP FO FM QBOFM EF JOTUSVNFOa UPT ZP B BNCPT MBEPT EF MBT HV䜷BT EFMUFDIPTPCSFMBTQVFSUBTEFMBOUFa $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 71. $POUJO䝄B SBTPUSBTFSBTQPES䜷BOFTUBSNVZDBa MJFOUFT 1BSB FWJUBSMFTJPOFT OP UPa RVF MPT DPNQPOFOUFT JOUFSOPT EF MB [POB EF BMNBDFOBNJFOUP EFM BJSCBH JONFEJBUBNFOUFEFTQV䜳TEFMJOGMBEP EFMBJSCBH /PNPOUFOJDPMPRVFBDDFTPSJPTDFSa DBEFMBT䜫SFBTEFEFTQMJFHVFEFMBJSa CBH DPNPFMQBOFMEFJOTUSVNFOUPT MBTWFOUBOJMMBT MPTQJMBSFTZMPTSB䜷MFT EFMUFDIP UJRVFUBEFBEWFSUFODJBEFMBJSCBH GSPOUBMEFMBDPNQB䜻BOUFQBSBFM TJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT /VODB DPMPRVF VO TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT FO TFOUJEP DPOUSBSJP B MB NBSDIB FO FM BTJFOUP EFMBOUFSP EFM BDPNQB䜻BOUF 4J FM BJSCBH TF JOGMB JNa QBDUBS䜫 DPOUSB FM TJTUFNB EF TVKFDJ䜽O QBSBOJ䜻PTDPMPDBEPFOTFOUJEPDPOUSBa SJP B MB NBSDIB QSPWPDBOEP MFTJPOFT HSBWFTPNPSUBMFT EFN䜫T UBNQPDPEFCFDPMPDBSTFFMTJTa UFNB EF TVKFDJ䜽O QBSB OJ䜻PT FO FM BTJFOUPEFMQBTBKFSPEFMBOUFSPFOTFOUJa EPEFMBNBSDIB4JFMBJSCBHEFMQBTBKFa SP EFMBOUFSP TF JOGMB QVFEF QSPWPDBS HSBWFTMFTJPOFTBMOJ䜻P 4JTVWFI䜷DVMPFTU䜫FRVJQBEPDPOFMJOUFa SSVQUPS EF BDUJWBDJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBHEFMBOUFSPEFMBDPNQB䜻BOUF QVFa EFBDUJWBSPEFTBDUJWBSFMBJSCBHEFMBOa UFSPEFMBDPNQB䜻BOUFTFH䝄OTFBOFDFa TBSJP %735/$* 䳜 /0VTFVOBTVKFDJ䜽OQBSBOJ䜻PTFO TFOUJEP DPOUSBSJP B MB NBSDIB FO VO BTJFOUP RVF UFOHB *3#( $a 5*70 ZBRVFFM/*䜛0QPES䜷BTVGSJS -4*0/4(374PMB.635 $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 72. $POUJO䝄B 䳜 /VODB DPMPRVFVOB TVKFDJ䜽O QBSB OJ䜻PTFOFMBTJFOUPEFMQBTBKFSPEFa MBOUFSP 4J FM BJSCBH EFM QBTBKFSP EFMBOUFSPTFJOGMB QVFEFQSPWPDBS HSBWFTMFTJPOFT 䳜 $VBOEPMPTOJ䜻PTTFTJFOUBOFOMPT BTJFOUPT USBTFSPT EF VO WFI䜷DVMP FRVJQBEPDPOBJSCBHTMBUFSBMFTZP EFDPSUJOB BTFH䝄SFTFEFDPMPDBSFM TJTUFNBEFTVKFDJ䜽OEFMOJ䜻PMPN䜫T BMFKBEPQPTJCMFEFMBQVFSUBZFOMB QPTJDJ䜽OEFCMPRVFP M JOGMBEP EF MPT BJSCBHT MBUFSBMFT ZPEFDPSUJOBQVFEFQSPWPDBSHSBa WFTMFTJPOFTPMBNVFSUFEFVOOJa 䜻P 5FTUJHPEFBEWFSUFODJBEFM BJSCBH M PCKFUJWP EFM UFTUJHP EF BEWFSUFODJB EFMBJSCBHFOFMQBOFMEFJOTUSVNFOUPT FTFMEFBWJTBSEFVOQSPCMFNBQPUFODJBM EFMBJSCBH4JTUFNBEFTVKFDJ䜽OTVQMFa NFOUBSJP 434 $VBOEPFMJOUFSSVQUPSEFFODFOEJEPFTa U䜫FO0/ MBMV[EFBEWFSUFODJBEFCFJMVa NJOBSTF EVSBOUF BQSPYJNBEBNFOUF TFHVOEPTZMVFHPBQBHBSTF )BHBDPNQSPCBSFMTJTUFNBTJ 䳜 -B MV[ OP TF FODJFOEF NPNFOU䜫OFBa NFOUFBMDPMPDBSFMFODFOEJEPFO0/ 䳜 -B MV[ QFSNBOFDF JMVNJOBEB EVSBOUF VOPTTFHVOEPT 䳜 -BMV[TFFODJFOEFNJFOUSBTFMWFI䜷DVa MPFTU䜫FONPWJNJFOUP 䳜 -BMV[QBSQBEFBDVBOEPFMJOUFSSVQUPS EFFODFOEJEPFTU䜫FOMBQPTJDJ䜽O0/ *OEJDBEPSEFMBJSCBHEFMBOUFSPEFM BDPNQB䜻BOUF TJFTU䜫FRVJQBEP M JOEJDBEPS EF BDUJWBDJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNQBa 䜻BOUF TF JMVNJOB EVSBOUF BQSPYJNBEBNFOUF TFHVOEPT EFTQV䜳T EF RVF FM JOUFSSVQUPS EFFODFOEJEPTFDPMPRVFFOMB QPTJDJ䜽O0/ $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 73. MJOEJDBEPSEFBDUJWBDJ䜽OEFMBJSCBHEFa MBOUFSP EFM BDPNQB䜻BOUFUBNCJ䜳O TF JMVNJOBDVBOEPFMJOUFSSVQUPSEFBDUJWBa DJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH EFMBOUFSP EFMBDPNQB䜻BOUFTFBKVTUBBMBQPTJDJ䜽O 0/ Z TF BQBHB USBOTDVSSJEPT TFHVOEPTBQSPYJNBEBNFOUF * *OEJDBEPS0''EFMBJSCBHEFMBOUFSP EFMBDPNQB䜻BOUF TJFTU䜫FRVJQBEP MJOEJDBEPS0''EFMBJSCBHEFa MBOUFSP EFM BDPNQB䜻BOUF TF JMVNJOB EVSBOUF VOPT TFHVOEPTEFTQV䜳TEFRVFFM JOUFSSVQUPS EF FODFOEJEP TF DPMPRVFFOMBQPTJDJ䜽O0/ M JOEJDBEPS 0'' EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF UBNCJ䜳O TF JMVNJOB DVBOEP FM JOUFSSVQUPS EF BDUJWBDJ䜽O EFTBDUJWBDJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF TF BKVTUB B MB QPTJDJ䜽O 0'' Z TF BQBHB DVBOEP FM JOUFSSVQUPS EF BDUJWBDJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH EFMBOUFSPEFMBDPNQB䜻BOUFTFBKVTUBB MBQPTJDJ䜽O0/ 5/$*䜝/ 4J FM JOUFSSVQUPS EF BDUJWBDJ䜽O EFa TBDUJWBDJ䜽OEFMBJSCBHFTU䜫BWFSJBEP FMJOEJDBEPSEFEFTBDUJWBDJ䜽OEFMBJSa CBH EFMBOUFSP EFM BDPNQB䜻BOUF OP TFFODFOEFS䜫 FMJOEJDBEPSEFBDUJWBa DJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNa QB䜻BOUFTFFODJFOEFZTFBQBHBUSBT BQSPYJNBEBNFOUFTFHVOEPT ZFM BJSCBHEFMBOUFSPEFMBDPNQB䜻BOUFTF JOGMBS䜫 FO VO DIPRVF GSPOUBM JODMVTP TJFMJOUFSSVQUPSTFIBFTUBCMFDJEPFO MBQPTJDJ䜽O0'' O FTUF DBTP TPMJDJUF MB JOTQFDDJ䜽O EFM JOUFSSVQUPS EF BDUJWBDJ䜽OEFTBDa UJWBDJ䜽O EFM BJSCBH EFM QBTBKFSP EFa MBOUFSPZFMTJTUFNBEFBJSCBH434FO VOUBMMFSQSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP $PNQPOFOUFTZGVODJPOFTEFM 434 M434FTU䜫GPSNBEPQPSMPTTJHVJFOUFT DPNQPOFOUFT .䜽EVMP EF BJSCBH GSPOUBM EFM DPOa EVDUPS .䜽EVMPEFMBJSCBHGSPOUBMEFMBDPNa QB䜻BOUF .䜽EVMPTEFMBJSCBHMBUFSBM .䜽EVMPTEFMBJSCBHEFDPSUJOB 6OJEBEFTQSFUFOTPSBTEFMSFUSBDUPS 5FTUJHPEFBEWFSUFODJBEFMBJSCBH TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 74. .䜽EVMP EF DPOUSPM434 434$. 4FOTPSEFWVFMDP 4FOTPSFTEFJNQBDUPMBUFSBM *OUFSSVQUPS 0/0'' EFM BJSCBH EFM BDPNQB䜻BOUF *OEJDBEPS0/0''EFMBJSCBHEFMBOa UFSPEFMBDPNQB䜻BOUF M 434$. DPOUSPMB DPOUJOVBNFOUF UPa EPTMPTDPNQPOFOUFTEFM434NJFOUSBT FMJOUFSSVQUPSEFFODFOEJEPFTU䜫FO0/ QBSBEFUFSNJOBSTJFMJNQBDUPEFMDIPa RVF FT MP TVGJDJFOUFNFOUF GVFSUF QBSB OFDFTJUBSFMEFTQMJFHVFEFMBJSCBHPEFM DJOUVS䜽OEFTFHVSJEBEDPOQSFUFOTPS -B MV[ EF BEWFSUFODJB EFM BJSCBH 434 FOFMQBOFMEFJOTUSVNFOUPTTFJMVa NJOBS䜫EVSBOUFTFHVOEPTEFTQV䜳TEF DPMPDBS FM JOUFSSVQUPS EF FODFOEJEP FO MB QPTJDJ䜽O 0/ EFTQV䜳T FM UFTUJHP EF BEWFSUFODJBEFMBJSCBH434 EFCFS䜷B BQBHBSTF %735/$* 4JBMHVOBEFMBTJHVJFOUFTDPOEJDJPOFT PDVSSF FTUPJOEJDBVONBMGVODJPOBa $POUJO䝄B $POUJO䝄B NJFOUPEFM434OFTUFDBTP TPMJDJUF MBJOTQFDDJ䜽OEFMTJTUFNBFOVOUBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP 䳜 -B MV[ OP TF FODJFOEF NPNFOU䜫a OFBNFOUF BM DPMPDBS FM FODFOEJEP FO0/ 䳜 -BMV[QFSNBOFDFJMVNJOBEBEVSBOa UFVOPTTFHVOEPT 䳜 -BMV[TFFODJFOEFNJFOUSBTFMWFa I䜷DVMPFTU䜫FONPWJNJFOUP 䳜 -B MV[ QBSQBEFB DVBOEP FM JOUFa SSVQUPS EF FODFOEJEP FTU䜫 FO MB QPTJDJ䜽O0/ TJFTU䜫FRVJQBEP -PT N䜽EVMPT EFM BJSCBH FTU䜫O TJUVBEPT FOFMDFOUSPEFMWPMBOUFEFMBEJSFDDJ䜽OZ FOFMQBOFMEFMQBTBKFSPEFMBOUFSPTPCSF MB HVBOUFSB $VBOEP FM 434$. EFUFDUB VOJNQBDUPGVFSUFFOMBQBSUFEFMBOUFSB EFM WFI䜷DVMP TF EFTQMFHBS䜫O BVUPN䜫UJa DBNFOUFMPTBJSCBHTEFMBOUFSPT $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 75. 6OB WF[ EFTQMFHBEP MBT DPTUVSBT NPMa EFBEBT EJSFDUBNFOUF FO MBT DVCJFSUBT EFMQBOFMTFTFQBSBS䜫OQPSMBQSFTJ䜽OEF MB FYQBOTJ䜽O EFM BJSCBH TUB NBZPS BQFSUVSBEFMBTDVCJFSUBTFTMPRVFQFSa NJUFFMDPNQMFUPJOGMBEPEFMPTBJSCBHT 6O BJSCBH DPNQMFUBNFOUF JOGMBEP FO DPNCJOBDJ䜽O DPO VO DJOUVS䜽O DPSSFDUBa NFOUFDPMPDBEP BNJOPSBFMNPWJNJFOUP IBDJBEFMBOUFEFMDPOEVDUPSZEFMBDPNa QB䜻BOUF SFEVDJFOEP FM SJFTHP EF MFTJPa OFTFODBCF[BZQFDIP %FTQV䜳T EF DPNQMFUBSTF FM JOGMBEP FM BJSCBHDPNJFO[BBEFTJOGMBSTFJONFEJBa UBNFOUF QFSNJUJFOEPRVFFMDPOEVDUPS NBOUFOHBMBWJTJ䜽OEFMBOUFSBZMBDBQBa DJEBE EF BDDJPOBS FM WPMBOUF V PUSPT DPOUSPMFT %735/$* 䳜 /P NPOUF P DPMPRVF DVBMRVJFS BDa DFTPSJP TPQPSUFEFCFCJEBT QFHBa UJOBT FUD FOFMQBOFMEFMBDPNQBa 䜻BOUFEFMBOUFSPTPCSFMBHVBOUFSB FO VO WFI䜷DVMP RVF UFOHB BJSCBH %JDIPTPCKFUPTQPES䜷BODPOWFSUJSTF FO QFMJHSPTPT QSPZFDUJMFT P QSPWPa DBSMFTJPOFTTJFMBJSCBHEFMBDPNa QB䜻BOUFTFJOGMB $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 76. $POUJO䝄B 䳜 MDPMPDBSVOBNCJFOUBEPSFOFMJOa UFSJPSEFMWFI䜷DVMP OPMPDPMPRVFOJ DFSDBEFM UBCMFSP EF JOTUSVNFOUPT OJFOMBTVQFSGJDJFEFMQBOFMEFJOTa USVNFOUPT 4FQPES䜷BDPOWFSUJSFOVOQSPZFDUJM QFMJHSPTP P QSPWPDBS MFTJPOFT TJ FM BJSCBHEFMBDPNQB䜻BOUFTFJOGMB %735/$* 䳜 4J VO BJSCBH TF EFTQMJFHB QVFEF QSPEVDJSTFVOGVFSUFSVJEPTFHVJEP EFQPMWPRVFTFTVFMUBEFMWFI䜷DVMP TUBT DPOEJDJPOFT TPO OPSNBMFT Z OP TPO QFMJHSPTBT MPT BJSCBHT FTa U䜫O FNQBRVFUBEPT DPO FTUF QPMWP GJOP M QPMWP HFOFSBEP EVSBOUF FM EFTQMJFHVFEFMBJSCBHQVFEFQSPWPa DBSMF JSSJUBDJ䜽O FO MB QJFM P FO MPT PKPT P BHSBWBSMFT FM BTNB B BMHVa OBT QFSTPOBT -BWF TJFNQSF UPEBT MBT[POBTEFMBQJFMFYQVFTUBTDPO BHVB GS䜷B Z VO KBC䜽O OFVUSP EFTa QV䜳TEFVOBDDJEFOUFFOFMRVFTF IBZBOEFTQMFHBEPMPTBJSCBHT $POUJO䝄B $POUJO䝄B 䳜 MTJTUFNB434T䜽MPGVODJPOBDVBOa EP FM JOUFSSVQUPS EF FODFOEJEP TF FODVFOUSB FO MB QPTJDJ䜽O 0/ 4J FM UFTUJHPEFBEWFSUFODJBEFM434 OP TF JMVNJOB P TJ QFSNBOFDF FOa DFOEJEP USBT FODFOEFSTF VOPT TFHVOEPTBMHJSBSMBMMBWFBMBQPa TJDJ䜽O0/PUSBTBSSBODBSFMNPUPS PTJTFFODJFOEFEVSBOUFMBDPOEVDa DJ䜽O TJHOJGJDBRVFFM434QSFTFOUB GBMMPTOFTUFDBTP TPMJDJUFMBJOTa QFDDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM,JBSFDPNJFOEBWJTJUBS VODFOUSPEFTFSWJDJPEJTUSJCVJEPS ,JBBVUPSJ[BEP 䳜 OUFTEFDBNCJBSVOGVTJCMFPEFTa DPOFDUBSVOUFSNJOBMEFMBCBUFS䜷B HJSF FM JOUFSSVQUPS EF FODFOEJEP B MB QPTJDJ䜽O -0$, CMPRVFP Z FYa USBJHBMBMMBWFEFFODFOEJEP/VODB EFTNPOUF OJ DBNCJF MPT GVTJCMFT SFMBDJPOBEPT DPO FM BJSCBH DVBOEP FM JOUFSSVQUPS EF FODFOEJEP FTU䜳 FO MB QPTJDJ䜽O 0/ 4J OP TJHVJFTF FTUBTJOTUSVDDJPOFT TFJMVNJOBS䜫MB MV[EFBEWFSUFODJBEFM434䳗 䳗 JSCBHEFMBOUFSPEFM BDPNQB䜻BOUFZEFMDPOEVDUPS TJ FTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 77. 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOTJTUFa NBEFTVKFDJ䜽OTVQMFNFOUBSJP BJSCBH Z DJOUVSPOFTEFTFHVSJEBEDPOCBOEBBCa EPNJOBMZEFMIPNCSPUBOUPFOFMBTJFOa UPEFMDPOEVDUPSDPNPFOFMEFMBDPNa QB䜻BOUF -BQSFTFODJB EFM TJTUFNB TF JOEJDB DPO MBT MFUSBT *3#( HSBCBEBT FO MB DVa CJFSUBEFMQBOFMEFMBJSCBHFOFMWPMBOUF ZFMQBOFMGSPOUBMEFMMBEPEFMQBTBKFSP EFMBOUFSPTPCSFMBHVBOUFSB M 434 TF DPNQPOF EF BJSCBHT NPOUBa EPTEFCBKPEFMBDVCJFSUBEFMQBOFMEFM WPMBOUFZEFMQBOFMGSPOUBMEFMMBEPEFM BDPNQB䜻BOUFTPCSFMBHVBOUFSB M QSPQ䜽TJUP EFM 434 FT FM EF TVNJOJTa USBSVOBQSPUFDDJ䜽OBEJDJPOBMBMDPOEVDa UPS ZP BM QBTBKFSP EFMBOUFSP N䜫T BMM䜫 EFMBRVFPGSFDFFMTJTUFNBEFMDJOUVS䜽O FO DBTP EF VO JNQBDUP GSPOUBM DPO MB TVGJDJFOUFHSBWFEBE %735/$* 4JOPTJNBHJOBNPTWPMBOUFDPNPVO SFMPK MBTNBOPTEFMDPOEVDUPSEFCFO FTUBS DPMPDBEBT FO FM WPMBOUF FO MB QPTJDJ䜽OEFMBTZ-PTCSBa [PTZNBOPTEFMBDPNQB䜻BOUFEFCFO FTUBSDPMPDBEPTTPCSFFMSFHB[P %735/$* 4JFNQSFVTFMPTDJOUVSPOFTZMBTTVa KFDJPOFT QBSB OJ䜻P QBSB DVBMRVJFS EFTQMB[BNJFOUP FO DVBMRVJFS NPa NFOUP QBSBUPEPFMNVOEP-PTBJSa CBHTTFJOGMBODPOVOBGVFS[BDPOTJa EFSBCMF Z DPO NVDIB SBQJEF[ -PT DJOUVSPOFTBZVEBOBNBOUFOFSBMPT PDVQBOUFT FO VOB QPTJDJ䜽O DPSSFDUB QBSBPCUFOFSFMN䜫YJNPCFOFGJDJPEFM BJSCBH*ODMVTPDPOFMBJSCBH MPTPDVa $POUJO䝄B $POUJO䝄B QBOUFT DPO FM DJOUVS䜽O BCSPDIBEP JOBEFDVBEBNFOUF Z TJO DJOUVS䜽O QVFEFO TVGSJS HSBWFT MFTJPOFT TJ FM BJSCBHTFJOGMB4JFNQSFTJHBMBTQSFa DBVDJPOFT TPCSF MPT DJOUVSPOFT BJSa CBHT Z TFHVSJEBE EF MPT PDVQBOUFT RVFTFJODMVZFOFOFTUFNBOVBM 1BSB SFEVDJS MPT SJFTHPT EF MFTJPOFT HSBWFTZSFDJCJSMPTN䜫YJNPTCFOFGJa DJPTEFMBTFHVSJEBEEFTVTJTUFNBEF TVKFDJ䜽O 䳜 /VODBDPMPRVFBMOJ䜻PFOFMBTJFOUP EFMBOUFSP 䳜 4JFNQSFDPMPRVFMBTVKFDJ䜽OEFMPT OJ䜻PTFOFMBTJFOUPUSBTFSPTUFFT FM MVHBS N䜫T TFHVSP QBSB RVF TF NPOUFO MPT OJ䜻PT EF DVBMRVJFS FEBE 䳜 -PT BJSCBHT EFMBOUFSPT Z MBUFSBMFT QVFEFOMFTJPOBSBMPTQBTBKFSPTDPa MPDBEPT JODPSSFDUBNFOUF FO MPT BTJFOUPTEFMBOUFSPT 䳜 .VFWB TV BTJFOUP UBO MFKPT DPNP QVFEB EF MPT BJSCBHT EFMBOUFSPT NJFOUSBTTJHBNBOUFOJFOEPFMDPOa USPMEFMWFI䜷DVMP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 78. $POUJO䝄B 䳜 /JVTUFEOJTVTBDPNQB䜻BOUFTEFa CFO TFOUBSTFP JODMJOBSTF OVODB EFNBTJBEP DFSDB EF MPT BJSCBHT -PTDPOEVDUPSFTPMPTBDPNQB䜻BOa UFT DPMPDBEPT JODPSSFDUBNFOUF QVFEFOTVGSJSHSBWFTMFTJPOFTBMJOa GMBSTFFMBJSCBH 䳜 /VODBTFBQPZFDPOUSBMBQVFSUBP DPOUSBMBDPOTPMBDFOUSBMZTJ䜳OUFa TF TJFNQSF FO VOB QPTJDJ䜽O WFSUJa DBM 䳜 /P QFSNJUB RVF VO QBTBKFSP TF NPOUF FO FM BTJFOUP EFMBOUFSP DVBOEPFTU䜫JMVNJOBEPFMJOEJDBEPS 0''EFMBJSCBHEFMBOUFSPEFMBDPNa QB䜻BOUF QPSRVF FM BJSCBH OP TF EJTQBSBS䜷B FO DBTP EF VO DIPRVF GSPOUBMNPEFSBEPPHSBWF 䳜 /P DPMPRVF PCKFUPT TPCSF OJ DFSDB EFMPTN䜽EVMPTEFBJSCBHEFMWPMBOa UF EFMQBOFMEFJOTUSVNFOUPTPEFM QBOFMEFMBOUFSPTPCSFMBHVBOUFSB ZBRVFEJDIPTPCKFUPTQPES䜷BODBVa TBSEFTQFSGFDUPTFOFMWFI䜷DVMPFO DBTPEFDPMJTJ䜽OHSBWFFOMBRVFTF BDUJWFOMPTBJSCBHT $POUJO䝄B $POUJO䝄B 䳜 /PNPEJGJRVFOJEFTDPOFDUFFMDBa CMFBEP 434 OJ PUSPT DPNQPOFOUFT EFM TJTUFNB 434 %F MP DPOUSBSJP QPES䜷BQSPEVDJSTFVOBDDJEFOUFQPS FMEJTQBSPBDDJEFOUBMEFMPTBJSCBHT P QPS EFKBS FM TJTUFNB 434 JOPQFa SBOUF 䳜 4JFMUFTUJHPEFBEWFSUFODJBEFMBJSa CBH 434 QFSNBOFDF JMVNJOBEP NJFOUSBT TF DPOEVDF FM WFI䜷DVMP TPMJDJUF MB JOTQFDDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 -PTBJSCBHTTPMPTFQVFEFOVUJMJ[BS VOB WF[ TPMJDJUF FM SFFNQMB[P EFM TJTUFNBFOVOUBMMFSQSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP $POUJO䝄B $POUJO䝄B 䳜 M434FTU䜫EJTF䜻BEPQBSBEJTQBSBS MPTBJSCBHTEFMBOUFSPTT䜽MPDVBOEP FM JNQBDUP FT MP TVGJDJFOUFNFOUF HSBWF P DVBOEP FM 䜫OHVMP EFM JNa QBDUPFTJOGFSJPSB䛺EFMFKFMPOa HJUVEJOBM EFMBOUFSP EFM WFI䜷DVMP EFN䜫T MPTBJSCBHTT䜽MPTFEJTQBa SBS䜫O VOB WF[ -PT DJOUVSPOFT EFa CFOMMFWBSTFTJFNQSF 䳜 -PT BJSCBHT EFMBOUFSPT OP TF EJTa QBSBS䜫O FO DBTP EF JNQBDUP MBUFa SBM JNQBDUPUSBTFSPPWVFMDPEFa N䜫T MPT BJSCBHT EFMBOUFSPT OP TF EJTQBSBS䜫O FO MPT DIPRVFT GSPOUBa MFT RVF FTU䜳O QPS EFCBKP EFM VNa CSBMEFEFTQMJFHVF 䳜 /PTFEFCFDPMPDBSOVODBVOTJTUFa NB EF TVKFDJ䜽O QBSB OJ䜻PT FO FM BTJFOUP EFMBOUFSP M OJ䜻P QPES䜷B TVGSJS MFTJPOFT HSBWFT P JODMVTP MB NVFSUFFODBTPEFBDUJWBSTFFMBJSa CBHEFCJEPBVOBDDJEFOUF $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 79. $POUJO䝄B 䳜 -PTOJ䜻PTEFB䜻PTPNFOPTEFa CFO TFOUBSTFZ VUJMJ[BS FM TJTUFNB EF TVKFDJ䜽O FO FM BTJFOUP USBTFSP /VODBQFSNJUBBMPTOJ䜻PTWJBKBSFO FM BTJFOUP EFMBOUFSP 4J VO OJ䜻P NBZPSEFB䜻PTTFTJFOUBFOFM BTJFOUPEFMBOUFSP FMDJOUVS䜽OEFCF TVKFUBSMPDPSSFDUBNFOUFZFMBTJFOa UP EFCFS䜷B TJUVBSTF FO MB QPTJDJ䜽O N䜫TBUS䜫TQPTJCMF 䳜 1BSB VOB QSPUFDDJ䜽O N䜫YJNB FO UPEP UJQP EF BDDJEFOUF UPEPT MPT PDVQBOUFTJODMVTPFMDPOEVDUPSEFa CF MMFWBS TJFNQSF MPT DJOUVSPOFT IBZBPOPBJSCBHFOTVBTJFOUPQBa SB NJOJNJ[BS MPT SJFTHPT EF MFTJPa OFTHSBWFTPMBNVFSUFFODBTPEF BDDJEFOUF/PTFTJFOUFOJTFJODMJOF EFNBTJBEP DFSDB EFM BJSCBH NJFOa USBTFMWFI䜷DVMPFTU䜫FONPWJNJFOa UP $POUJO䝄B $POUJO䝄B 䳜 4FOUBSTF JODPSSFDUBNFOUF P GVFSB EFMBQPTJDJ䜽OQVFEFQSPWPDBSHSBa WFTMFTJPOFTFODBTPEFBDDJEFOUF 5PEPTMPTPDVQBOUFTEFCFOTFOUBSa TF FO WFSUJDBM DPO FM SFTQBMEP FO QPTJDJ䜽O WFSUJDBM DFOUSBEP FO FM DPK䜷O DPO FM DJOUVS䜽O QVFTUP MBT QJFSOBT D䜽NPEBNFOUF FYUFOEJEBT ZMPTQJFTFOFMTVFMPIBTUBRVFFM WFI䜷DVMP FTU䜫 BQBSDBEP Z TF IBZB RVJUBEPMBMMBWF 䳜 MTJTUFNBEFMBJSCBH434EFCFEJTa QBSBSTFS䜫QJEBNFOUFQBSBQSPQPSa DJPOBSQSPUFDDJ䜽OFOVOBDDJEFOUF 4JVOPDVQBOUFFTU䜫GVFSBEFMBQPa TJDJ䜽O QPSRVF OP MMFWB FM DJOUVS䜽O FMBJSCBHDPOUBDUBS䜫DPOHSBOGVFSa [BDPOUSBFMPDVQBOUFQSPWPD䜫OEPa MFHSBWFTMFTJPOFT *OUFSSVQUPS0/0''EFMBJSCBH EFMBOUFSPEFMBDPNQB䜻BOUF TJFTU䜫 FRVJQBEP 4F QVFEF EFTBDUJWBS FM BJSCBH GSPOUBM EFMBDPNQB䜻BOUFNFEJBOUFFMJOUFSSVQa UPS EF BDUJWBDJ䜽OEFTBDUJWBDJ䜽O EFM BJSa CBHGSPOUBMEFMBDPNQB䜻BOUFTJTFJOTa UBMBVOTJTUFNBEFSFUFODJ䜽OQBSBOJ䜻PT PTJFMBTJFOUPEFMBDPNQB䜻BOUFOPFTU䜫 PDVQBEP 1BSBHBSBOUJ[BSMBTFHVSJEBEEFTVIJKP EFCF EFTBDUJWBSTF FM BJSCBH GSPOUBM EFM BDPNQB䜻BOUF FO DBTPT FYDFQDJPOBMFT FO MPT RVF TFB OFDFTBSJP JOTUBMBS VO BTJFOUPQBSBOJ䜻PTEFFTQBMEBTBMBEJa SFDDJ䜽O EF MB NBSDIB FO BTJFOUP EFM BDPNQB䜻BOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 80. 1 1BSBEFTBDUJWBSPSFBDUJWBSFMBJSCBHEFa MBOUFSPEFMBDPNQB䜻BOUF 1BSB EFTBDUJWBS FMBJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF JOTFSUF MB MMBWF NBFTUSB FOFMJOUFSSVQUPSEFBDUJWBDJ䜽OEFTBDUJa WBDJ䜽OEFMBJSCBHEFMBOUFSPEFMBDPNQBa 䜻BOUFZH䜷SFMBBMBQPTJDJ䜽O0''MJOa EJDBEPS 0'' EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF TFJMVNJOBZQFSNBa OFDFFODFOEJEPIBTUBRVFTFSFBDUJWBFM BJSCBHEFMBOUFSPEFMBDPNQB䜻BOUF 1BSB SFBDUJWBS FM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF JOTFSUF MB MMBWF NBFTUSB FOFMJOUFSSVQUPS0/0''EFMBJSCBHEFa MBOUFSP EFM BDPNQB䜻BOUF Z H䜷SFMB B MB QPTJDJ䜽O0/ M JOEJDBEPS EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUFEFTBDUJWBEPTFBQBHBS䜫Z FM JOEJDBEPS EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUFBDUJWBEP TFFODFOEFa S䜫 EVSBOUF BQSPYJNBEBNFOUF TFHVOEPT %735/$* MJOUFSSVQUPS0/0''EFMBJSCBHEFa MBOUFSPQVFEFHJSBSTFDPOVOEJTQPTJa UJWP S䜷HJEP TJNJMBS $PNQSVFCF TJFNa QSFFMFTUBEPEFMJOUFSSVQUPSEFBDUJa WBDJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH EFa MBOUFSPZEFMJOEJDBEPSEFBDUJWBDJ䜽O EFTBDUJWBDJ䜽O EFM BJSCBH EFMBOUFSP EFMBDPNQB䜻BOUF /05 䳜 MBKVTUBSFMJOUFSSVQUPSEFBDUJWBa DJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH EFa MBOUFSP EFM DPOEVDUPS FO MB QPTJa DJ䜽O0/TFBDUJWBFMBJSCBHEFMBOa UFSPEFMBDPNQB䜻BOUFOFTFDBTP OP EFCFS䜫 NPOUBSTF VO BTJFOUP QBSBOJ䜻PTFOFMBTJFOUPEFMQBTBa KFSPEFMBOUFSP $POUJO䝄B $POUJO䝄B 䳜 $VBOEPFMJOUFSSVQUPS0/0'' BDa UJWBDJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH GSPOUBM EFM BDPNQB䜻BOUF FTU䜫 FO QPTJDJ䜽O 0'' FM BJSCBH GSPOUBM EFM BDPNQB䜻BOUFFTU䜫EFTBDUJWBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 81. 5/$*䜝/ 䳜 4JFMJOUFSSVQUPSEFBDUJWBDJ䜽OEFa TBDUJWBDJ䜽O EFMBJSCBH GSPOUBM EFM BDPNQB䜻BOUF OP GVODJPOB DPSSFDa UBNFOUF FMUFTUJHPEFBEWFSUFODJB EFMBJSCBHTFJMVNJOB FOFMQBa OFMEFJOTUSVNFOUPT : FM JOEJDBEPS 0'' EFM BJSCBH EFa MBOUFSP EFM BDPNQB䜻BOUF OP TF JMVNJOBS䜫 FM JOEJDBEPS EF BDUJa WBDJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF TF JMVNJOB Z BQBHB EFTQV䜳T EF BQSPYJNBEBNFOUF TFHVOEPT FMN䜽EVMPEFDPOUSPM EFM434SFBDUJWBFMBJSCBHEFMBOUFa SP EFM BDPNQB䜻BOUF Z FTUF BJSCBH TFJOGMBFODBTPEFJNQBDUPGSPOUBM BVORVF FM JOUFSSVQUPS EF BDUJWBa DJ䜽OEFTBDUJWBDJ䜽O EFM BJSCBH EFa MBOUFSP EFM BDPNQB䜻BOUF FTU䜳 FO MBQPTJDJ䜽O0'' OFTUFDBTP TPMJDJUFMBJOTQFDDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPa OBM,JBSFDPNJFOEBWJTJUBSVODFOa USP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 4JFMUFTUJHPEFBEWFSUFODJBEFMBJSa CBH434QBSQBEFBPOPTFJMVNJOB DVBOEP TF HJSB FM JOUFSSVQUPS B MB QPTJDJ䜽O 0/ P TJ TF JMVNJOB NJFOa USBTDPOEVDFFMWFI䜷DVMP TPMJDJUFMB JOTQFDDJ䜽OEFMTJTUFNBFOVOUBMMFS QSPGFTJPOBM,JBSFDPNJFOEBWJTJUBS VODFOUSPEFTFSWJDJPEJTUSJCVJEPS ,JBBVUPSJ[BEP %735/$* 䳜 M DPOEVDUPS FT SFTQPOTBCMF EF BTFHVSBSTF EF RVF MB QPTJDJ䜽O EFM JOUFSSVQUPS EF BDUJWBDJ䜽OEFTBDUJa WBDJ䜽OEFMBJSCBHGSPOUBMEFMBDPNa QB䜻BOUFFTMBDPSSFDUB 䳜 %FTBDUJWF FM BJSCBH GSPOUBM EFM BDPNQB䜻BOUF T䜽MP DVBOEP FM JOUFa SSVQUPS EF FODFOEJEP FTU䜳 BQBHBa EP EFMPDPOUSBSJPQVFEFQSPEVDJSa TFVOGBMMPFOFMN䜽EVMPEFDPOUSPM 434 YJTUF FM QFMJHSP EF RVF FM BJSCBH EFMBOUFSP MBUFSBM P EF DPSUJOB EFM BDPNQB䜻BOUF Z EFM DPOEVDUPS OP TFBDUJWFOPTFBDUJWFOJODPSSFDUBa NFOUFEVSBOUFVOBDPMJTJ䜽O $POUJO䝄B $POUJO䝄B 䳜 /P JOTUBMF VO BTJFOUP EF OJ䜻P EF FTQBMEBT B MB EJSFDDJ䜽O EF MB NBSa DIBFOFMBTJFOUPEFMQBTBKFSPEFa MBOUFSP TJO EFTBDUJWBS FM BJSCBH GSPOUBM EFM BDPNQB䜻BOUF M OJ䜻P QPES䜷B TVGSJS MFTJPOFT HSBWFT P JOa DMVTPMBNVFSUFFODBTPEFBDUJWBSa TFFMBJSCBHEFCJEPBVOBDDJEFOUF 䳜 VORVF TV WFI䜷DVMP FTU䜳 FRVJQBEP DPO FM JOUFSSVQUPS EF BDUJWBDJ䜽O EFTBDUJWBDJ䜽O EFM BJSCBH EFMBOUFSP EFM BDPNQB䜻BOUF OP JOTUBMF VO TJTUFNBEFTVKFDJ䜽OQBSBOJ䜻PTFO FM BTJFOUP EFM QBTBKFSP EFMBOUFSP /PTFEFCFDPMPDBSOVODBVOTJTUFa NB EF TVKFDJ䜽O QBSB OJ䜻PT FO FM BTJFOUP EFMBOUFSP -PT OJ䜻PT EFa NBTJBEPBMUPTQBSBVOTJTUFNBEF TVKFDJ䜽OEFCFOPDVQBSMPTBTJFOUPT USBTFSPT Z VUJMJ[BS MPT DJOUVSPOFT EFTFHVSJEBEDPSSFTQPOEJFOUFTO DBTP EF BDDJEFOUF MPT OJ䜻PT UFOa ES䜫OMBN䜫YJNBTFHVSJEBEQPTJCMF TJEJTQPOFOEFMTJTUFNBEFTVKFDJ䜽O BEFDVBEPFOFMBTJFOUPUSBTFSP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 82. $POUJO䝄B 䳜 OFMNPNFOUPFORVFOPTFBOFa DFTBSJP DPMPDBSFM BTJFOUP EFM OJ䜻P FO FM BTJFOUP EFMBOUFSP EFM BDPNa QB䜻BOUF WVFMWBBBDUJWBSFMBJSCBH GSPOUBMEFMBDPNQB䜻BOUF %735/$* /PDPMPRVFPCKFUPT -PTPCKFUPT DPNPMBDVCJFSUBEFMQBa OFMEFQSPUFDDJ䜽O FMTPQPSUFQBSBUFa M䜳GPOPT N䜽WJMFT FM QPSUBWBTPT MPT GSBTDPTEFQFSGVNFPBEIFTJWPT OP TF EFCFO DPMPDBS FO P DFSDB EF MPT N䜽EVMPT EFM BJSCBH EFM WPMBOUF FM QBOFMEFJOTUSVNFOUPT FMDSJTUBMEFM QBSBCSJTBTZFMQBOFMEFMQBTBKFSPEFa MBOUFSPTJUVBEPFODJNBEFMBHVBOUFa SB%JDIPTPCKFUPTQPES䜷BOMFTJPOBSMF FODBTPEFDPMJTJ䜽OEFMWFI䜷DVMPMPTVa GJDJFOUFNFOUFHSBWFDPNPQBSBEFTa QMFHBSMPTBJSCBHT/PDPMPRVFOJOH䝄O PCKFUPTPCSFFMBJSCBHPFOUSFFMBJSa CBHZVTUFE JSCBHMBUFSBM TJFTU䜫FRVJQBEP 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOBJSCBH MBUFSBMFODBEBVOPEFMPTBTJFOUPTEFa MBOUFSPTMQSPQ䜽TJUPEFMBJSCBHFTQSPa QPSDJPOBS VOB QSPUFDDJ䜽O BEJDJPOBM BM DPOEVDUPSZBMQBTBKFSPEFMBOUFSP N䜫T BMM䜫EFMBPGSFDJEBQPSFMDJOUVS䜽O -PT BJSCBHT MBUFSBMFT FTU䜫O EJTF䜻BEPT QBSB EFTQMFHBSTFTPMPFODBTPEFDJFSa UBT DPMJTJPOFT EF JNQBDUP MBUFSBM EFa QFOEJFOEPEFMBTFWFSJEBEEFMDIPRVF FM 䜫OHVMP MB WFMPDJEBE Z FM QVOUP EF JNa QBDUP-PTBJSCBHTMBUFSBMFTOPFTU䜫OEJa TF䜻BEPTQBSBEFTQMFHBSTFFOUPEBTMBT TJUVBDJPOFTEFJNQBDUPMBUFSBM %735/$* /P QFSNJUB RVF MPT QBTBKFSPT EFTa DBOTFO MB DBCF[B P FM DVFSQP TPCSF MBTQVFSUBT RVFDPMPRVFOMPTCSB[PT TPCSF MBT QVFSUBT RVF FTUJSFO MPT CSB[PT QPS GVFSB EF MB WFOUBOB OJ RVFDPMPRVFOPCKFUPTFOUSFMBTQVFSa UBTZMPTPDVQBOUFTTFOUBEPTFOMPT BTJFOUPTFRVJQBEPTDPOBJSCBHTMBUFa SBMFTZPEFDPSUJOB /05 TJFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 83. $POUJO䝄B 䳜 NCPT BJSCBHTMBUFSBMFT TF EFTa QMJFHBOFODBTPEFDJFSUBTTJUVBDJPa OFTEFWVFMDP 䳜 MBJSCBHMBUFSBMQPES䜷BEFTQMFHBSa TFDVBOEPFMTFOTPSEFWVFMDPEFa UFDUBMBTJUVBDJ䜽ODPNPWVFMDP %735/$* 䳜 MBJSCBHMBUFSBMFTVOTJTUFNBBEJa DJPOBM EFM DJOUVS䜽O EF TFHVSJEBE OPFTVOTVTUJUVUP1PSFTP TJFNa QSFEFCFOMMFWBSTFQVFTUPTMPTDJOa UVSPOFT NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJNJFOUP -PT BJSCBHT TF EFTQMJFHBO TPMP FO EFUFSNJOBEPT JNQBDUPT MBUFSBMFT P WVFMDP DPO DJFSUBT DPOEJDJPOFT HSBWFT RVF QVFEBO QSPWPDBS MFTJPOFT JNQPSa UBOUFTBMPTPDVQBOUFTEFMWFI䜷DVa MP $POUJO䝄B 4PMP TJ FM WFI䜷DVMP FTU䜫 FRVJQBEP DPO TFOTPSEFWVFMDP $POUJO䝄B 䳜 1BSBVOBNFKPSQSPUFDDJ䜽OEFMTJTa UFNBEFMBJSCBHMBUFSBMZQBSBFWJa UBS MFTJPOFT QPS FM EFTQMJFHVF EFM BJSCBH MBUFSBM BNCPT PDVQBOUFT EFM BTJFOUP EFMBOUFSP Z UPEPT MPT PDVQBOUFTEFMPTBTJFOUPTUSBTFSPT TJ FTU䜫 FRVJQBEP EFCFO FTUBS TFOUBEPTFOQPTJDJ䜽OWFSUJDBMDPOFM DJOUVS䜽ODPSSFDUBNFOUFDPMPDBEP 䳜 /P VTF GVOEBT BDDFTPSJBT EF MPT BTJFOUPT 䳜 MMP QPES䜷B SFEVDJS P JNQFEJS MB FGFDUJWJEBEEFMTJTUFNB 䳜 1BSBFWJUBSVOEFTQMJFHVFJOWPMVOa UBSJPEFMBJSCBHEFJNQBDUPMBUFSBM RVF QVFEB QSPWPDBS MFTJPOFT QFSa TPOBMFT FWJUF MPT HPMQFT DPOUSB FM TFOTPS EF JNQBDUPT MBUFSBMFT NJFOUSBT FM JOUFSSVQUPS EF FODFOa EJEPFTU䜫FO0/ 䳜 4JFMBTJFOUPPMBGVOEBEFMBTJFOUP FTU䜫OEB䜻BEPT TPMJDJUFFMNBOUFOJa NJFOUP EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP $POUJO䝄B $POUJO䝄B 䳜 /VODB DPMPRVF OJ JOUSPEV[DB PCKFa UPT FO MB QFRVF䜻B BCFSUVSB DFSDB EF MBT FUJRVFUBT EFM BJSCBH MBUFSBM BEIFSJEBT B MPT BTJFOUPT EFM WFI䜷a DVMP$VBOEPFMBJSCBHTFEFTQMJFHB FMPCKFUPQPES䜷BBGFDUBSBMEFTQMJFa HVFZQSPWPDBSVOBDDJEFOUFJOFTa QFSBEPPMFTJPOFTFOFMDVFSQP %735/$* /PDPMPRVFPCKFUPT 䳜 /P DPMPRVF OJOH䝄O PCKFUP TPCSF FM BJSCBH P FOUSF FM BJSCBH Z VTUFE TJNJTNP OPDPMPRVFOJOH䝄OPCKFa UPBMSFEFEPSEFM䜫SFBEFJOGMBEPEFM BJSCBHDPNPMBQVFSUB FMDSJTUBMEF MB QVFSUB MBUFSBM Z MBT DPMVNOBT EFMBOUFSBZUSBTFSB 䳜 /P DPMPRVF OJOH䝄O PCKFUP FOUSF MB QVFSUB Z FM BTJFOUP 1PES䜷BO DPOa WFSUJSTF FO QSPZFDUJMFT QFMJHSPTPT FO DBTP EF JOGMBSTF FM BJSCBH MBUFa SBM 䳜 /P NPOUF BDDFTPSJPT FO FM MBEP P DFSDBEFMPTBJSCBHTMBUFSBMFT $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 84. $POUJO䝄B 䳜 1PSSB[POFTEFTFHVSJEBE OPDVFMa HVFPCKFUPT QFTBEPT EF MPT HBOa DIPTQBSBBCSJHPT JSCBHEFDPSUJOB TJFTU䜫 FRVJQBEP OMBTHV䜷BTEFMUFDIPEFBNCPTMBEPT FODJNB EF MB DPMVNOB DFOUSBM TF FOa DVFOUSBOMPTBJSCBHTEFDPSUJOB 4F IBO DPODFCJEP QBSB QSPUFHFS MB DBa CF[B EF MPT PDVQBOUFT EF MPT BTJFOUPT EFMBOUFSPT Z EF MPT BTJFOUPT MBUFSBMFT USBTFSPT FO DBTP EF DJFSUBT DPMJTJPOFT EFJNQBDUPMBUFSBM -PTBJSCBHTEFDPSUJOBTFIBOEJTF䜻BEP QBSBBDUJWBSTFT䜽MPFODJFSUPUJQPEFDPa MJTJPOFTEFJNQBDUPMBUFSBM EFQFOEJFOEP EFMBGVFS[B FM䜫OHVMPZMBWFMPDJEBEEFM JNQBDUP /P FTU䜫 QSFWJTUP RVF FTUPT BJSCBHT EF DPSUJOB TF BDUJWFO FO UPEPT MPT JNQBDUPT MBUFSBMFT FO DPMJTJPOFT GSPOUBMFT OJ USBTFSBT EFM WFI䜷DVMP OJ FO MBNBZPS䜷BEFTJUVBDJPOFTEFWVFMDP /05 TJFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP 䳜 NCPT BJSCBHT EF DPSUJOB TF EFTa QMJFHBOFODBTPEFDJFSUBTTJUVBDJPa OFTEFWVFMDP 䳜 MBJSCBHEFDPSUJOBQPES䜷BEFTQMFa HBSTF DVBOEP FM TFOTPS EF WVFMDP EFUFDUBMBTJUVBDJ䜽ODPNPWVFMDP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 85. %735/$* 䳜 1BSBRVFMPTBJSCBHTMBUFSBMFTZEF DPSUJOBQSPQPSDJPOFOMBNFKPSQSPa UFDDJ䜽O MPT PDVQBOUFT EF MPT BTJFOUPT EFMBOUFSPT Z USBTFSPT MBa UFSBMFTEFCFOTFOUBSTFFOQPTJDJ䜽O WFSUJDBM Z DPO MPT DJOUVSPOFT DPa SSFDUBNFOUF BCSPDIBEPT *NQPSa UBOUF MPTOJ䜻PTEFCFOTFOUBSTFFO FM BTJFOUP USBTFSP FO TJTUFNB EF TVKFDJ䜽OQBSBOJ䜻PTBEFDVBEP 䳜 $VBOEP MPT OJ䜻PT FTU䜫O TFOUBEPT FO MPT BTJFOUPT MBUFSBMFT USBTFSPT UJFOFO RVF FTUBS TFOUBEPT FO VO TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT BEFDVBEPTFH䝄SFTFEFDPMPDBSFM TJTUFNB EF TVKFDJ䜽O QBSB OJ䜻PT MP N䜫TMFKPTQPTJCMFEFMBQVFSUBMBUFa SBMZBTFH䝄SFTFEFRVFFMTJTUFNB EFTVKFDJ䜽OQBSBOJ䜻PTFTU䜫FOVOB QPTJDJ䜽OEFCMPRVFP 䳜 /PQFSNJUBRVFMPTQBTBKFSPTEFTa DBOTFOMBDBCF[BPFMDVFSQPTPCSF MBTQVFSUBT RVFDPMPRVFOMPTCSBa [PTTPCSFMBTQVFSUBT RVFFTUJSFO MPTCSB[PTQPSGVFSBEFMBWFOUBOB OJ RVF DPMPRVFO PCKFUPT FOUSF MBT QVFSUBT Z MPT PDVQBOUFT TFOUBEPT FOMPTBTJFOUPTFRVJQBEPTDPOBJSa CBHTMBUFSBMFTZPEFDPSUJOB $POUJO䝄B $POUJO䝄B 䳜 /VODB JOUFOUF BCSJS P SFQBSBS MPT DPNQPOFOUFT EFM TJTUFNB EFM BJSa CBH EF DPSUJOB MBUFSBM 4J FT OFDFa TBSJP VO UBMMFS QSPGFTJPOBM EFCF MMFWBSBDBCPFMNBOUFOJNJFOUPEFM TJTUFNB,JBSFDPNJFOEBWJTJUBSVO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JB BVUPSJ[BEP O DBTP EF RVF OP TF TJHBO MBT JOTa USVDDJPOFT BOUFSJPSFT TF QVFEFO QSPWPDBS MFTJPOFT P MB NVFSUF B MPT PDVQBOUFTEFMWFI䜷DVMPTJTFQSPEVDF VOBDDJEFOUF %735/$* /PDPMPRVFPCKFUPT 䳜 /PDPMPRVFPCKFUPTFODJNBEFMBJSa CBH TJNJTNP OP DVFMHVF OJOH䝄O PCKFUPBMSFEFEPSEFM䜫SFBEFJOGMBa EP EFM BJSCBH DPNP MB QVFSUB FM DSJTUBMEFMBQVFSUBMBUFSBM MBTDPa MVNOBTEFMBOUFSBZUSBTFSBZFMSB䜷M MBUFSBMEFMUFDIP 䳜 /PDVFMHVFPCKFUPTEVSPTOJRVFTF QVFEBO SPNQFS EFM DPMHBEPS QBSB SPQB 䜉1PSRV䜳OPTFIBEFTQMFHBEPFM BJSCBHEVSBOUFVOBDPMJTJ䜽O $POEJDJPOFTEFJOGMBEPZ EFTJOGMBEPEFMBJSCBH )BZNVDIPTUJQPTEFBDDJEFOUFTFOMPT RVFFMBJSCBHOPTVNJOJTUSBVOBQSPUFDa DJ䜽OBEJDJPOBM OUSF FTUPT BDDJEFOUFT TF JODMVZFO MPT JNQBDUPTUSBTFSPT TFHVOEBTPUFSDFSBT DPMJTJPOFT FO BDDJEFOUFT EF JNQBDUP N䝄MUJQMF BT䜷 DPNP FO JNQBDUPT B CBKB WFMPDJEBE $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 86. 4 4FOTPSFTEFDPMJTJ䜽OEFMBJSCBH .䜽EVMPEFDPOUSPM434TFOTPSEFWVFMDP TJFTU䜫 FRVJQBEP 4FOTPSEFJNQBDUPGSPOUBM 4FOTPSEFJNQBDUPMBUFSBM TJFTU䜫FRVJQBEP 4FOTPSEFJNQBDUPMBUFSBM TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 87. $ $POEJDJPOFTEFJOGMBEPEFMBJSCBH JSCBHTEFMBOUFSPT -PTBJSCBHTEFMBOUFSPTFTU䜫OEJTF䜻BEPT QBSBJOGMBSTFFODBTPEFDPMJTJ䜽OGSPOUBM EFQFOEJFOEPEFMBJOUFOTJEBE MBWFMPDJa EBE PMPT 䜫OHVMPT EF JNQBDUP EF EJDIB DPMJTJ䜽O JSCBHTMBUFSBMFTZEFDPSUJOB TJFTU䜫 FRVJQBEP -PT BJSCBHT MBUFSBM Z EF DPSUJOB FTU䜫O EJTF䜻BEPTQBSBJOGMBSTFDVBOEPMPTTFOa TPSFT EF DPMJTJ䜽O MBUFSBMFT EFUFDUBO VO JNQBDUP EFQFOEJFOEP EF MB GVFS[B MB WFMPDJEBEPMPT䜫OHVMPTEFJNQBDUPQSPa WPDBEPTQPSVOBDPMJTJ䜽OEFJNQBDUPMBa UFSBM VORVF MPT BJSCBHT EFMBOUFSPT BJSCBH EFM DPOEVDUPS Z EFM BDPNQB䜻BOUF FTa U䜫OEJTF䜻BEPTQBSBJOGMBSTFT䜽MPFODPMJa TJPOFT GSPOUBMFT UBNCJ䜳O QPES䜷BO JOa GMBSTF FO PUSP UJQP EF DPMJTJPOFT TJ MPT TFOTPSFTEFJNQBDUPEFMBOUFSPTEFUFDa UBO FM JNQBDUP TVGJDJFOUF -PT BJSCBHT MBUFSBMFT P EF DPSUJOB FTU䜫O EJTF䜻BEPT QBSB JOGMBSTF T䜽MP FO DPMJTJPOFT EF JNa QBDUP MBUFSBM QFSP QPES䜷BO JOGMBSTF FO PUSBT DPMJTJPOFT TJ MPT TFOTPSFT EF JNa QBDUPMBUFSBMEFUFDUBOFMTVGJDJFOUFJNa QBDUP 4JFMDIBTJTEFMWFI䜷DVMPTFHPMQFBFOCBa DIFT V PCKFUPT FO DBSSFUFSBT FO NBMBT DPOEJDJPOFT MPTBJSCBHTQPES䜷BOEFTQMFa HBSTF $POEV[DB DPO DVJEBEP FO DBSSFa UFSBTFONBMBTDPOEJDJPOFTPFOTVQFSa GJDJFTOPBQUBTQBSBFMUS䜫GJDPEFWFI䜷DVa MPTQBSBFWJUBSRVFFMBJSCBHTFEFTQMJFa HVFJOWPMVOUBSJBNFOUF $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 88. / /05 4JFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP -PTBJSCBHTMBUFSBMFTPMPTBJSCBHTEF DPSUJOBFTU䜫OEJTF䜻BEPTQBSBJOGMBSTF DVBOEPFMTFOTPSEFWVFMDPTEFUFDUB VOWVFMDP $POEJDJPOFTFOMBTRVFFMBJSCBHOP TFJOGMB 䳜 OBMHVOBTDPMJTJPOFTBCBKBWFMPDJEBE MPTBJSCBHT QPES䜷BO OP EFTQMFHBSTF -PT BJSCBHT OP FTU䜫O EJTF䜻BEPT QBSB EFTQMFHBSTFFOFTPTDBTPTQPSRVFOP BQPSUBS䜷BO CFOFGJDJPT BEJDJPOBMFT BM EFMDJOUVS䜽OFOFTFUJQPEFDPMJTJPOFT 䳜 -PTBJSCBHTEFMBOUFSPTOPFTU䜫OEJTFa 䜻BEPTQBSBJOGMBSTFFODBTPEFDPMJTJPa OFTUSBTFSBT QPSRVFMPTPDVQBOUFTTF NVFWFOIBDJBBUS䜫TDPOMBGVFS[BEFM JNQBDUPOFTUFDBTP MPTBJSCBHTJOa GMBEPTOPBQPSUBS䜷BOOJOH䝄OCFOFGJDJP BEJDJPOBM 䳜 -PTBJSCBHTEFMBOUFSPTOPTFJOGMBS䜫O FO MBT DPMJTJPOFT EF JNQBDUP MBUFSBM QPSRVF MPT PDVQBOUFT TF NVFWFO FO MBEJSFDDJ䜽OEFMBDPMJTJ䜽OFTEFDJS FO MPT JNQBDUPT MBUFSBMFT FM EFTQMJFHVF EFM BJSCBH GSPOUBM OP PGSFDFS䜷B VOB QSPUFDDJ䜽OBEJDJPOBM 4JO FNCBSHP MPT BJSCBHT EF JNQBDUP MBUFSBM Z MPT BSJCBHT EF DPSUJOB QPa ES䜷BOJOGMBSTFEFQFOEJFOEPEFMBWFMPa DJEBEEFMWFI䜷DVMP MBJOUFOTJEBEZMPT 䜫OHVMPTEFMJNQBDUP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 89. 䳜 O VOBDPMJTJ䜽O FO 䜫OHVMP MB GVFS[B EFM JNQBDUP QVFEF EJSJHJS B MPT PDVa QBOUFTFOVOBEJSFDDJ䜽OEPOEFMPTBJSa CBHTOPQSPQPSDJPOBS䜷BOOJOH䝄OCFOFa GJDJPBEJDJPOBM ZQPSFTP MPTTFOTPSFT QPES䜷BOOPEFTQMFHBSMPTBJSCBHT 䳜 /PSNBMNFOUF MPTDPOEVDUPSFTGSFOBO DPONVDIBGVFS[BKVTUPBOUFTEFMJNa QBDUP TUBT GSFOBEBT GVFSUFT CBKBO MBQBSUFEFMBOUFSBEFMWFI䜷DVMPQSPWPa DBOEPRVFDPOEV[DBVOWFI䜷DVMPDPO VOB NBZPS IPMHVSB DPO FM TVFMP -PT BJSCBHT QPES䜷BO OP JOGMBSTF FO FTUBT TJUVBDJPOFT EF JOGSBDPOEVDDJ䜽O QPSRVF MBT GVFS[BT EF EFDFMFSBDJ䜽O RVF TF EFUFDUBO FO MPT TFOTPSFT QPa ES䜷BO WFSTF NVZ SFEVDJEBT FO EJDIBT DPMJTJPOFTEFJOGSBDPOEVDDJ䜽O 䳜 -PTBJSCBHTOPTFJOGMBOFOMBNBZPS䜷B EFMPTBDDJEFOUFTDPOWVFMDPT JODMVTP TJ FM WFI䜷DVMP FTU䜫 FRVJQBEP DPO BJSa CBHTMBUFSBMFTZBJSCBHTEFDPSUJOB / /05 4JFTU䜫FRVJQBEPDPOTFOTPSEF WVFMDP 4JO FNCBSHP TJ FTU䜫 FRVJQBEP DPO BJSCBHT MBUFSBMFT P EF DPSUJOB MPT BJSCBHT QPES䜷BO JOGMBSTF FO DBTP EF WVFMDP TJ MP EFUFDUBTF FM TFOTPS EF WVFMDP $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 90. / /05 4JOTFOTPSEFWVFMDP /PPCTUBOUF MPTBJSCBHTEFJNQBDUP MBUFSBMZ MPT BJSCBHT EF DPSUJOB QPa ES䜷BO JOGMBSTF DVBOEP FM WFI䜷DVMP WVFMRVFEFCJEPBVOBDPMJTJ䜽OEFJNa QBDUPMBUFSBMTJFMWFI䜷DVMPFTU䜫FRVJa QBEPDPOBJSCBHTEFJNQBDUPMBUFSBM ZEFDPSUJOB 䳜 -PT BJSCBHT QPES䜷BO OP JOGMBSTF TJ FM WFI䜷DVMP DPMJTJPOB DPO PCKFUPT DPNP SBNBT P 䜫SCPMFT EPOEF FM QVOUP EF JNQBDUPFTU䜫DPODFOUSBEPFOVOB[Pa OB Z MB GVFS[B UPUBM EFM JNQBDUP OP MMFHBBMPTTFOTPSFT $VJEBEPEFM434 M434OPOFDFTJUBQS䜫DUJDBNFOUFNBOa UFOJNJFOUP QPS MP RVF OP IBZ OJOHVOB QJF[BEFMBRVFVTUFEQVFEBSFBMJ[BSFM NBOUFOJNJFOUPQPST䜷NJTNP4JFMUFTa UJHPEFBEWFSUFODJBEFMBJSCBH434OPTF JMVNJOB PQFSNBOFDFJMVNJOBEPEFGPSa NB DPOUJOVB TPMJDJUF MB JOTQFDDJ䜽O EFM TJTUFNBFOVOUBMMFSQSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* 䳜 -B NPEJGJDBDJ䜽O EF MPT DPNQPOFOa UFTEFM434PEFMDBCMFBEP JODMVJEP DVBMRVJFS UJQP EF DIBQB TPCSF MBT DVCJFSUBT EFM QBOFM P NPEJGJDBDJPa OFTEFMBFTUSVDUVSB QVFEFOBGFDa UBS OFHBUJWBNFOUF BM SFOEJNJFOUP EFM434ZDBVTBSBMH䝄OUJQPEFMFa TJ䜽O $POUJO䝄B $POUJO䝄B 䳜 1BSB MB MJNQJF[B EF MBT DVCJFSUBT EFM BJSCBH VUJMJDF T䜽MP VO QB䜻P TVBWFZTFDPRVFIBZBTJEPIVNFa EFDJEPT䜽MPDPOBHVB-PTEJTPMWFOa UFTPMPTMJNQJBEPSFTQVFEFOBGFDa UBS OFHBUJWBNFOUF B MBT DVCJFSUBT EFMBJSCBHZBMDPSSFDUPEFTQMJFHVF EFMTJTUFNB 䳜 /P DPMPRVF PCKFUPT TPCSF OJ DFSDB EFMPTN䜽EVMPTEFBJSCBHEFMWPMBOa UF EFMQBOFMEFJOTUSVNFOUPTPEFM QBOFMEFMBOUFSPTPCSFMBHVBOUFSB ZBRVFEJDIPTPCKFUPTQPES䜷BODBVa TBSEFTQFSGFDUPTFOFMWFI䜷DVMPFO DBTPEFDPMJTJ䜽OHSBWFFOMBRVFTF BDUJWFOMPTBJSCBHT 䳜 4J TF JOGMBO MPT BJSCBHT TPMJDJUF FM SFFNQMB[PEFMTJTUFNBFOVOUBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 91. $POUJO䝄B 䳜 /PNPEJGJRVFOJEFTDPOFDUFFMDBa CMFBEP 434OJ PUSPT DPNQPOFOUFT EFM TJTUFNB 434 %F MP DPOUSBSJP QPES䜷BQSPEVDJSTFVOBMFTJ䜽OQPSFM EJTQBSPBDDJEFOUBMEFMPTBJSCBHTP QPSEFKBSFMTJTUFNB434JOPQFSBUJa WP 䳜 4JMPTDPNQPOFOUFTEFMTJTUFNBEFM BJSCBH EFCFO TFS EFTFDIBEPT P TJ FM WFI䜷DVMP EFCF DPOWFSUJSTF FO DIBUBSSB UFOHB FO DVFOUB MBT TJa HVJFOUFT QSFDBVDJPOFT -PT EJTUSJa CVJEPSFT ,JB BVUPSJ[BEPT DPOPDFO FTUBT QSFDBVDJPOFT Z QVFEFO QSPa QPSDJPOBSMFMBJOGPSNBDJ䜽OBEFDVBa EB4JOPTJHVJFTFFTUBTQSFDBVDJPa OFT Z QSPDFEJNJFOUPT QVFEF BVa NFOUBS FM SJFTHP EF MFTJPOFT QFSa TPOBMFT 䳜 4JTVWFI䜷DVMPTFIBJOVOEBEPZMBT BMGPNCSBTFTU䜫OFNQBQBEBTPIBZ BHVB FO FM QJTP OP EFCF JOUFOUBS BSSBODBS FM NPUPS FO FTUF DBTP EFCFTPMJDJUBSMBJOTQFDDJ䜽OEFMWFa I䜷DVMPFOVOUBMMFSQSPGFTJPOBM,JB SFDPNJFOEB QPOFSTF FO DPOUBDUP DPO VO DFOUSP EF TFSWJDJP EJTUSJa CVJEPS,JBBVUPSJ[BEP 1SFDBVDJPOFTEFTFHVSJEBE BEJDJPOBMFT 䳜 / /VODB QFSNJUB RVF VO QBTBKFSP TF NPOUFFOMB[POBEFDBSHBPFODJNB EF VO SFTQBMEP QMFHBEP 5PEPT MPT PDVQBOUFT EFCFO TFOUBSTF EFSFDIPT DPOMBFTQBMEBFOMPTBTJFOUPT DPOMPT DJOUVSPOFTBCSPDIBEPTZMPTQJFTFOFM TVFMP 䳜 - -PT QBTBKFSPT OP EFCFO NPWFSTF P DBNCJBSTFEFBTJFOUPNJFOUSBTFMWFa I䜷DVMP FTU䜫 FO NPWJNJFOUP 6O PDVa QBOUF RVF OP MMFWF BCSPDIBEP FM DJOa UVS䜽OEFTFHVSJEBEFOFMNPNFOUPEF QSPEVDJSTF VOB DPMJTJ䜽O P GSFOBEB CSVTDB QPES䜷B TFS MBO[BEP DPOUSB FM JOUFSJPS EFM WFI䜷DVMP DPOUSB PUSPT PDVQBOUFTPTFSFYQVMTBEPEFMWFI䜷DVa MP 䳜 $ $BEBDJOUVS䜽OFTU䜫EJTF䜻BEPQBSBTVa KFUBSVOPDVQBOUF4JN䜫TEFVOBQFSa TPOB VTBTF FM NJTNP DJOUVS䜽O QPa ES䜷BO TVGSJS MFTJPOFT EF HSBWFEBE P NPSJSFODBTPEFDPMJTJ䜽O 䳜 / /PVUJMJDFOJOH䝄OBDDFTPSJPFOMPTDJOa UVSPOFT EF TFHVSJEBE %JTQPTJUJWPT VUJMJ[BEPTQBSBNFKPSBSMBDPNPEJEBE P MB DPMPDBDJ䜽O EFM DJOUVS䜽O QVFEFO SFEVDJSMBQSPUFDDJ䜽ORVFQSPQPSDJPOB FMDJOUVS䜽OZBVNFOUBSMPTSJFTHPTEF HSBWFTMFTJPOFTFODBTPEFBDDJEFOUF 䳜 - -PTPDVQBOUFTOPEFCFODPMPDBSOJOa H䝄O PCKFUP EVSP P QVOUJBHVEP FOUSF FMMPTZMPTBJSCBHT-MFWBSPCKFUPTEVa SPTPQVOUJBHVEPTFOFMSFHB[PPFOMB CPDB QVFEF QSPWPDBSMF MFTJPOFT TJ TF JOGMBFMBJSCBH 䳜 . .BOUFOHBBMPTPDVQBOUFTBMFKBEPTEF MBT DVCJFSUBT EFM BJSCBH 5PEPT MPT PDVQBOUFT EFCFO TFOUBSTF EFSFDIPT DPOMBFTQBMEBFOMPTBTJFOUPT DPOMPT DJOUVSPOFTBCSPDIBEPTZMPTQJFTFOFM TVFMP 4J MPT PDVQBOUFT FTU䜫O EFNBa TJBEPDFSDBBMBTDVCJFSUBTEFMBJSCBH QVFEFOMFTJPOBSTFTJMPTBJSCBHTTFJOa GMBO 䳜 / /PQFHVFOJDPMPRVFPCKFUPTDFSDBEF MBTDVCJFSUBTEFMBJSCBH$VBMRVJFSPCa KFUPQFHBEPPDPMPDBEPFOMBTDVCJFSa UBTEFMPTBJSCBHTMBUFSBMFTPGSPOUBa MFT QVFEF JOUFSGFSJS DPO MB DPSSFDUB PQFSBDJ䜽OEFMPTBJSCBHT 䳜 / /PNPEJGJRVFMPTBTJFOUPTEFMBOUFSPT -BNPEJGJDBDJ䜽OEFMPTBTJFOUPTEFMBOa UFSPT QVFEF JOUFSGFSJS DPO MB PQFSBa DJ䜽OEFMPTDPNQPOFOUFTEFEFUFDDJ䜽O EFMTJTUFNBEFTVKFDJ䜽OBEJDJPOBMPEF MPTBJSCBHTMBUFSBMFT $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 92. 䳜 / /P DPMPRVFOJOH䝄O PCKFUP EFCBKP EF MPT BTJFOUPT EFMBOUFSPT $PMPDBS FMFa NFOUPTEFCBKPEFMPTBTJFOUPTEFMBOa UFSPT QVFEF JOUFSGFSJS DPO MB PQFSBa DJ䜽OEFMPTDPNQPOFOUFTEFEFUFDDJ䜽O EFM TJTUFNB EF TVKFDJ䜽O BEJDJPOBM Z DPOMPTNB[PTEFDBCMFT 䳜 / /VODBMMFWFBVOOJ䜻PFOTVSFHB[PM OJ䜻PQPES䜷BTFSIFSJEPEFHSBWFEBEP NPSJS FO DBTP EF DPMJTJ䜽O 5PEPT MPT OJ䜻PTEFCFOFTUBSDPSSFDUBNFOUFTVa KFUPTFOMPTBTJFOUPTEFTFHVSJEBEQBa SB OJ䜻PT P DPO MPT DJOUVSPOFT EFM BTJFOUPUSBTFSP %735/$* 䳜 4FOUBSTF EF GPSNB JOBEFDVBEB P GVFSB EF MB QPTJDJ䜽O QVFEF IBDFS RVFMPTPDVQBOUFTTFBOFNQVKBEPT NVZ DFSDB EF MB [POB EF EFTQMJFa HVFFMBJSCBH TFHPMQFFODPOUSBMB FTUSVDUVSBJOUFSJPSPTFBOFYQVMTBa EPTGVFSBEFMWFI䜷DVMPTVGSJFOEPMFa TJPOFTPJODMVTPMBNVFSUF $POUJO䝄B $POUJO䝄B 䳜 4J䜳OUFTF TJFNQSF EFSFDIP DPO FM SFTQBMEP FO QPTJDJ䜽O WFSUJDBM DFOa USBEPFOFMDPK䜷OEFMBTJFOUP DPOFM DJOUVS䜽O QVFTUP MBT QJFSOBT DPOa GPSUBCMFNFOUF FYUFOEJEBT Z MPT QJFTFOFMTVFMP MB䜻BEJSFRVJQBNJFOUPP NPEJGJDBSFMEJTQPTJUJWPEFM BJSCBHEFTVWFI䜷DVMP 4J NPEJGJDB TV WFI䜷DVMP DBNCJ䜫OEPMF FM CBTUJEPS FMTJTUFNBEFQBSBDIPRVFT MB M䜫NJOB NFU䜫MJDB EFM FYUSFNP GSPOUBM P MBUFSBM P MB BMUVSB EF DPOEVDDJ䜽O FTUP QVFEFBGFDUBSBMBPQFSBDJ䜽OEFMTJTUFa NBEFMBJSCBHEFMWFI䜷DVMP UJRVFUBEFBEWFSUFODJBEFM BJSCBH TJFTU䜫FRVJQBEP -BTFUJRVFUBTEFBEWFSUFODJBEFMBJSCBH FTU䜫OQFHBEBTQBSBBMFSUBSBMDPOEVDUPS Z BM BDPNQB䜻BOUF EFM SJFTHP QPUFODJBM EFMTJTUFNBEFMBJSCBH %FCFUFOFSTFFODVFOUBRVFFTUBTBEa WFSUFODJBTHVCFSOBNFOUBMFTFTU䜫ODFOa USBEBTFOFMSJFTHPQBSBMPTOJ䜻PT QFSP RVFSFNPT RVF DPOP[DB UBNCJ䜳O MPT SJFTHPT B MPT RVF FTU䜫O FYQVFTUPT MPT BEVMUPT TUPT SJFTHPT TF IBO EFTDSJUP FOMBTQ䜫HJOBTBOUFSJPSFT $BSBDUFS䜷TUJDBTEFTFHVSJEBEEFTVWFI䜷DVMP
- 93. -MBWFT (SBCBSFMO䝄NFSPEFMBMMBWF 0QFSBDJPOFTEFMBMMBWF 4JTUFNBJONPWJMJ[BEPS DDFTPTJOMMBWFDPOFMNBOEPBEJTUBODJB 'VODJPOFTEFMTJTUFNBEFBDDFTPTJOMMBWFDPOFM NBOEPBEJTUBODJB 1SFDBVDJPOFTEFMUSBOTNJTPS $BNCJPEFMBQJMB -MBWFJOUFMJHFOUF 'VODJPOFTEFVOBMMBWFJOUFMJHFOUF 1SFDBVDJPOFTDPOMBMMBWFJOUFMJHFOUF 4JTUFNBEFBMBSNBBOUJSSPCP TUBEPBDUJWBEP TUBEPEFMBBMBSNBBOUJSSPCP TUBEPEFTBDUJWBEP #MPRVFPEFMBTQVFSUBT DDJPOBOEPMPTCMPRVFPTEFMBTQVFSUBTEFTEFFM FYUFSJPSEFMWFI䜷DVMP DDJPOBOEPMPTCMPRVFPTEFMBTQVFSUBTEFTEFFM JOUFSJPSEFMWFI䜷DVMP 4JTUFNBEFEFTCMPRVFPEFMBQVFSUBQPSEFUFDa DJ䜽OEFJNQBDUP 4JTUFNBEFCMPRVFPBVUPN䜫UJDPEFQVFSUBTQPS TFOTPSEFWFMPDJEBE #MPRVFPEFMBQVFSUBUSBTFSBDPOFMTFHVSPQBSB OJ䜻PT 1PSU䜽OUSBTFSP QFSUVSBEFMQPSU䜽OUSBTFSP $JFSSFEFMQPSU䜽OUSBTFSP 7FOUBOJMMBT MFWBMVOBTFM䜳DUSJDPT 7FOUBOJMMBTNBOVBMFT $BQ䜽 QFSUVSBEFMDBQ䜽 EWFSUFODJBEFBQFSUVSBEFMDBQ䜽 $JFSSFEFMDBQ䜽 5BQBEFMMFOBEPEFDPNCVTUJCMF QFSUVSBEFMBUBQBEFMMFOBEPEFDPNCVTUJCMF $JFSSFEFMBUBQBEFMMFOBEPEFDPNCVTUJCMF %FQ䜽TJUPEFHBTPMJOBFOFMDPNQBSUJNFOUPEFM NPUPS WFI䜷DVMPEFDPNCVTUJCMF'MFY QBSB#SBTJM Z1BSBHVBZ 5FDIPTPMBS %FTMJ[BNJFOUPEFMUFDIPTPMBS *ODMJOBDJ䜽OEFMUFDIPTPMBS 1BSBTPM 3FBKVTUFEFMUFDIPTPMBS EWFSUFODJBEFBQFSUVSBEFMUFDIPTPMBS 7PMBOUFEFEJSFDDJ䜽O %JSFDDJ䜽OBTJTUJEBFM䜳DUSJDB 7PMBOUFSFHVMBCMF 7PMBOUFDBMFGBDUBEP $MBYPO 3FUSPWJTPSFT 3FUSPWJTPSJOUFSJPS 3FUSPWJTPSFYUFSJPS 5BCMFSPEFJOTUSVNFOUPT $POUSPMEFMUBCMFSPEFJOTUSVNFOUPT $POUSPMEFMBWFOUBOB-$% $ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 94. *OEJDBEPSFT *OEJDBEPSEFDBNCJPEFMUSBOTFKF 7FOUBOBT-$% TJFTU䜫FRVJQBEP 7JTJ䜽OHFOFSBM *OGPSNBDJ䜽OEFWJBKF PSEFOBEPSEFWJBKF 3FJOJDJPNBOVBM 3FBKVTUFBVUPN䜫UJDP FOMPTUBCMFSPTEFJOTUSVa NFOUPTUJQP# .PEPT-$% QBSBUBCMFSPEFJOTUSVNFOUPTUJQP# .PEPEFNBOUFOJNJFOUP .PEPEFBKVTUFTEFMVTVBSJP FOMPTUBCMFSPTEF JOTUSVNFOUPTUJQP# .FOTBKFTEFBEWFSUFODJB 5FTUJHPTJOEJDBEPSFTZEFBEWFSUFODJB 5FTUJHPTEFBEWFSUFODJB 5FTUJHPTJOEJDBEPSFT 4JTUFNBEFBZVEBEFFTUBDJPOBNJFOUPUSBTFSP 'VODJPOBNJFOUPEFMTJTUFNBEFBZVEBEFFTUBa DJPOBNJFOUPUSBTFSP $POEJDJPOFTFOMBTRVFOPGVODJPOBFMTJTUFNB EFBZVEBBMFTUBDJPOBNJFOUPUSBTFSP 1SFDBVDJPOFTBMVUJMJ[BSFMTJTUFNBEFBZVEBBM FTUBDJPOBNJFOUPUSBTFSP VUPEJBHO䜽TUJDP $䜫NBSBEFWJTJ䜽OUSBTFSB MVNCSBEP 'VODJ䜽OEFBIPSSPEFCBUFS䜷B 'VODJ䜽OEFFTDPMUBEFMPTGBSPT 'VODJ䜽OEFCJFOWFOJEBEFMPTGBSPT $POUSPMEFMBJMVNJOBDJ䜽O 0QFSBDJ䜽OEFMPTGBSPTEFDBSSFUFSB *OUFSNJUFOUFTFJOUFSNJUFOUFTEFDBNCJPEFDBSSJM -V[BOUJOJFCMBEFMBOUFSB 'BSPBOUJOJFCMBUSBTFSP -VDFTEFDPOEVDDJ䜽OEJVSOB %JTQPTJUJWPEFOJWFMBDJ䜽OEFMPTGBSPT -JNQJBZMBWBQBSBCSJTBT -JNQJBQBSBCSJTBT EFMBOUFSP -BWBQBSBCSJTBT EFMBOUFSP #PRVJMMBU䜳SNJDBEFMMBWBQBSBCSJTBT *OUFSSVQUPSEFMMJNQJBZMBWBQBSBCSJTBTEFMBMVa OBUSBTFSB -V[JOUFSJPS -V[EFMFDUVSBMV[EFMIBCJU䜫DVMP -V[EFMNBMFUFSP -V[EFMFTQFKPEFDPSUFT䜷B %FTFNQB䜻BEPS %FTFNQB䜻BEPSEFMBMVOBUSBTFSB 4JTUFNBEFDPOUSPMNBOVBMEFMDMJNBUJ[BEPS $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEP 'VODJPOBNJFOUPEFMTJTUFNB 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS UJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOEJDJPOBEP $PNQSPCBDJ䜽OEFMBDBOUJEBEEFSFGSJHFSBOUFEFM BJSFBDPOEJDJPOBEPZEFMVCSJDBOUFEFMDPNQSFTPS 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSBVUPN䜫UJDP $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEPBVUPN䜫UJDPT $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEPNBOVBMFT 'VODJPOBNJFOUPEFMTJTUFNB 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS
- 95. UJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOEJDJPOBEP $PNQSPCBDJ䜽OEFMBDBOUJEBEEFSFGSJHFSBOUFEFM BJSFBDPOEJDJPOBEPZEFMVCSJDBOUFEFMDPNQSFTPS %FTDPOHFMBSZEFTFNQB䜻BSFMQBSBCSJTBT 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSNBOVBM 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSBVUPN䜫UJDP -䜽HJDBEFEFTFNQB䜻BEP $PNQBSUJNJFOUPTQBSBHVBSEBSPCKFUPT $PNQBSUJNFOUPFOMBDPOTPMBDFOUSBM (VBOUFSB 4PQPSUFEFSFEEFMNBMFUFSP 1MBDBEFMNBMFUFSP VNFOUPEFMFTQBDJPEFDBSHB $BSBDUFS䜷TUJDBTJOUFSJPSFT ODFOEFEPS $FOJDFSP 1PSUBWBTPT 1BSBTPM $BMFGBDDJ䜽OEFMBTJFOUP 5PNBEFDPSSJFOUF 3FMPKEJHJUBM ODMBKF T EFMBBMGPNCSJMMBEFMTVFMP (BODIPQBSBCPMTBT $PMHBEPSQBSBSPQB
- 96. - --74 (SBCBSFMO䝄NFSPEFMBMMBWF MO䝄NFSPEFD䜽EJHP EFMBMMBWFFTU䜫FTa UBNQBEPFOMBFUJRVFa UBEFMD䜽EJHPEFMBMMBa WFRVFTFBEKVOUBBM DPOKVOUPEFMBMMBWF4J QJFSEFMBTMMBWFT ,JB SFDPNJFOEBQPOFSTF FODPOUBDUPDPOVO DFOUSPEFTFSWJa DJPEJTUSJCVJEPSBVa UPSJ[BEP %FTNPOUF MBFUJRVFUB EFM D䜽EJHP EF MB MMBWFZHV䜫SEFMBFOVOMVHBSTFHVSPTJa NJTNP HSBCF UBNCJ䜳O FM O䝄NFSP EFM D䜽EJHPEFMBMMBWFZNBOU䜳OHBMPBNBOP FOVOMVHBSTFHVSP QFSPOPMPEFKFFOFM WFI䜷DVMP 0QFSBDJPOFTEFMBMMBWF -MBWFQMFHBCMF 1BSB EFTQMFHBS MB MMBWF QVMTF FM CPU䜽O EFMJCFSBDJ䜽OZEFTQV䜳TMBMMBWFTFEFTa QMFHBS䜫BVUPN䜫UJDBNFOUF 1BSBQMFHBSMBMMBWF QMJFHVFMBMMBWFNBa OVBMNFOUF NJFOUSBT QVMTB FM CPU䜽O EF MJCFSBDJ䜽O 5/$*䜝/ /PQMJFHVFMBMMBWFTJOQVMTBSFMCPU䜽O EF MJCFSBDJ䜽O TUP QPES䜷B EB䜻BS MB MMBWF -MBWFJOUFMJHFOUF 1BSB SFUJSBS MB MMBWF NFD䜫OJDB QVMTF Z NBOUFOHB QVMTBEP FM CPU䜽O EF MJCFSBa DJ䜽O ZSFUJSFMBMMBWFNFD䜫OJDB 1BSBWPMWFSBHVBSEBSMBMMBWFNFD䜫OJDB DPMPRVFMBMMBWFFOFMPSJGJDJPZFNQ䝄KFMB IBTUBRVFTFFTDVDIFVO䳖DMJD䳗 %735/$* -MBWFEFFODFOEJEP MMBWFJOUFa MJHFOUF $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 97. $POUJO䝄B %FKBS B MPTOJ䜻PT EFTBUFOEJEPT EFOa USPEFMWFI䜷DVMPDPOMBMMBWFEFFODFOa EJEP MMBWF JOUFMJHFOUF FT QFMJHSPTP JODMVTPBVORVFMBMMBWFOPFTU䜳FOFM FODFOEJEPPFMCPU䜽OEFBSSBORVFFO MB QPTJDJ䜽O $$ BDDFTPSJPT V 0/ BDUJWBEP -PT OJ䜻PT DPQJBO MP RVF IBDFO MPT BEVMUPT Z QVFEFO JOUSPEVDJS MB MMBWF FOFMFODFOEJEPPQVMTBSFMCPU䜽OEF BSSBORVF-BMMBWFEFFODFOEJEP MMBWF JOUFMJHFOUF QFSNJUJS䜫 RVF MPT OJ䜻PT BDDJPOFO MBT WFOUBOBT V PUSPT DPOa USPMFT JODMVTPQVFEBOMMFHBSBNPWFS FM WFI䜷DVMP MP RVF QPES䜷B QSPWPDBS HSBWFT MFTJPOFT P JODMVTP MB NVFSUF /VODB EFKF MBT MMBWFT EFOUSP EF TV WFI䜷DVMP DPO OJ䜻PT TJO TVQFSWJTJ䜽O DPOFMNPUPSFONBSDIB %735/$* ,JB SFDPNJFOEB VUJMJ[BS QJF[BT EF SFFNQMB[PQSPDFEFOUFTEFVODFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJa [BEP4JVUJMJ[BVOBMMBWFDPNQSBEBFO FMNFSDBEP FMJOUFSSVQUPSEFFODFOa $POUJO䝄B $POUJO䝄B EJEPQPES䜷BOPSFHSFTBSBMBQPTJDJ䜽O 0/ BDUJWBEP EFTQV䜳TEF4535 JOJa DJP 4J FTUP PDVSSJFTF FM NPUPS EF BSSBORVF TFHVJS䜷B GVODJPOBOEP QSPa WPDBOEP EB䜻PT B FTUF NPUPS Z VO QPTJCMFGVFHPEFCJEPBMFYDFTPEFDPa SSJFOUFFOFMDBCMFBEP 4JTUFNBJONPWJMJ[BEPS 4V WFI䜷DVMP QPES䜷B FTUBS FRVJQBEP DPO VOTJTUFNBJONPWJMJ[BEPSFMFDUS䜽OJDPEFM NPUPS QBSB SFEVDJS MPT SJFTHPT EF VO VTPOPBVUPSJ[BEPEFMWFI䜷DVMP 4VTJTUFNBJONPWJMJ[BEPSFTU䜫GPSNBEP QPSVOQFRVF䜻PSFQFUJEPSFOMBMMBWFEF FODFOEJEPZBQBSBUPTFMFDUS䜽OJDPTFOFM JOUFSJPSEFMWFI䜷DVMP 7FI䜷DVMPTTJOTJTUFNBEFMMBWF JOUFMJHFOUF $PO FM TJTUFNB JONPWJMJ[BEPS TJFNQSF RVF TF JOUSPEVDF MB MMBWF EF FODFOEJEP FOFMJOUFSSVQUPSEFFODFOEJEPZMPFOa DJFOEB TFDPNQSVFCB EFUFSNJOBZWFa SJGJDBTJMBMMBWFFODFOEJEPFTW䜫MJEBPOP 4JMBMMBWFFTW䜫MJEB FMNPUPSBSSBODBS䜫 4J MB MMBWF OP FT W䜫MJEB FM NPUPS OP BSSBODBS䜫 1BSB EFTBDUJWBS FM TJTUFNB JONPWJMJ[Ba EPS *OUSPEV[DB MB MMBWF EF FODFOEJEP FO FM DJMJOESPEFMBMMBWFZDPMPRVFFMFODFOEJa EPFOMBQPTJDJ䜽O0/ BDUJWBEP 1BSBBDUJWBSFMTJTUFNBJONPWJMJ[BEPS 1POHBMBMMBWFEFFODFOEJEPFOMBQPTJa DJ䜽O0''MTJTUFNBEFMJONPWJMJ[BEPS TFBDUJWBBVUPN䜫UJDBNFOUF4JOVOBMMBa WFEFFODFOEJEPW䜫MJEBQBSBTVWFI䜷DVMP FMNPUPSOPBSSBODBS䜫 7FI䜷DVMPTDPOTJTUFNBEFMMBWF JOUFMJHFOUF $VBOEP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEBEFMNPUPS TFDBNCJBBMB QPTJDJ䜽O 0/ FM TJTUFNB EFM JONPWJMJ[Ba EPS DPNQSVFCB Z WFSJGJDB TJ MB MMBWF FT W䜫MJEB 4JMBMMBWFFTW䜫MJEB FMNPUPSBSSBODBS䜫 4J MB MMBWF OP FT W䜫MJEB FM NPUPS OP BSSBODBS䜫 1BSB EFTBDUJWBS FM TJTUFNB JONPWJMJ[Ba EPS $BNCJF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPUPS B MB QPTJDJ䜽O 0/ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 98. 1 1BSBBDUJWBSFMTJTUFNBJONPWJMJ[BEPS $BNCJF FM CPU䜽O/(*/ 45354501 JOJDJPQBSBEBEFMNPUPS EFMNPUPSBMB QPTJDJ䜽O 0'' EFTBDUJWBEP M TJTUFNB EFMJONPWJMJ[BEPSTFBDUJWBBVUPN䜫UJDBa NFOUF 4JO VOB MMBWF JOUFMJHFOUF W䜫MJEB QBSBTVWFI䜷DVMP FMNPUPSOPBSSBODBS䜫 %735/$* $POFMGJOEFFWJUBSFMQPTJCMFSPCPEF TVWFI䜷DVMP OPEFKFMMBWFTEFSFQVFTa UPFOOJOH䝄ODPNQBSUJNFOUPEFMWFa I䜷DVMP-BDPOUSBTF䜻BEFMJONPWJMJ[Ba EPS FT VOB DPOUSBTF䜻B 䝄OJDB EFM DMJFOUF RVF EFCFS䜷B TFS DPOGJEFODJBM /PEFKFFTUFO䝄NFSPFOOJOH䝄OMVHBS WJTJCMFEFTVWFI䜷DVMP /05 MBSSBODBSFMNPUPS OPVUJMJDFMBMMBa WF DPO PUSBT MMBWFT EF JONPWJMJ[BEPS BMSFEFEPS%FMPDPOUSBSJPFTQPTJCMF RVFFMNPUPSOPBSSBORVFPTFQBSF QPDPEFTQV䜳TEFBSSBODBS.BOUFOHB MBT MMBWFT TFQBSBEBT QBSB FWJUBS VO NBMGVODJPOBNJFOUPEFBSSBORVF 5/$*䜝/ /PQPOHBBDDFTPSJPTEFNFUBMDFSDB EFMJOUFSSVQUPSEFFODFOEJEP-PTBDa DFTPSJPTEFNFUBMQVFEFOJOUFSSVNa QJS MB TF䜻BM EFM SFQFUJEPS Z QVFEFO JNQFEJSRVFTFBSSBORVFFMNPUPS /05 4JOFDFTJUBMMBWFTBEJDJPOBMFTPQJFSEF MBT MMBWFT ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 5/$*䜝/ MSFQFUJEPSEFMBMMBWFEFFODFOEJEP FTVOBQJF[BJNQPSUBOUFEFMTJTUFNB EFMJONPWJMJ[BEPSTU䜫EJTF䜻BEBQBSB GVODJPOBS TJO QSPCMFNBT EVSBOUF B䜻PT TJOFNCBSHPEFCFFWJUBSTVFYa QPTJDJ䜽OBMBIVNFEBE MBFMFDUSJDJEBE FTU䜫UJDBZMPTNBOFKPTCSVTDPT1VFa EF PDVSSJS VOB BWFS䜷B FO FM TJTUFNB EFMJONPWJMJ[BEPS 5/$*䜝/ /PDBNCJF BMUFSFPNPEJGJRVFFMTJTa UFNBEFMJONPWJMJ[BEPSQPSRVFQVFEF DBVTBS VOB BWFS䜷B FO FM TJTUFNB EFM JONPWJMJ[BEPS O FTUF DBTP TPMJDJUF FMNBOUFOJNJFOUPEFMTJTUFNBFOVO UBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJa TJUBSVODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP -BT BWFS䜷BT QSPWPDBEBT QPS BMUFSBa DJPOFT BKVTUFTPNPEJGJDBDJPOFTJOBa EFDVBEPTFOFMTJTUFNBJONPWJMJ[BEPS OP FTU䜫O DVCJFSUBT QPS MB HBSBOU䜷B EFMGBCSJDBOUFEFMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 99. $$404*/--7$0/-./%0%*45/$* 4*45䜋26*1%0 'VODJPOFTEFMTJTUFNBEFBDDFTP TJOMMBWFDPOFMNBOEPB EJTUBODJB #MPRVFP 5PEBTMBTQVFSUBTZFMQPSU䜽OUSBTFSP TF CMPRVFBO TJ QVMTB FM CPU䜽O EF CMPa RVFPNJFOUSBTUPEBTMBTQVFSUBTFTU䜫O DFSSBEBT -BT MVDFT EF FNFSHFODJB QBSQBEFBS䜫O VOBWF[QBSBJOEJDBSRVFUPEBTMBTQVFSa UBTFTU䜫OCMPRVFBEBT 4JO FNCBSHP TJ BMHVOB QVFSUB FM DBQ䜽 EFMNPUPSPFMQPSU䜽OUSBTFSPQFSNBOFa DF BCJFSUP MBT MVDFT EF FNFSHFODJB OP TFBDUJWBS䜫O4JUPEBTMBTQVFSUBT FMDBa Q䜽EFMNPUPSZFMQPSU䜽OUSBTFSPFTU䜫O DFSSBEPT USBT QVMTBS FM CPU䜽O EF CMPa RVFP MBT MVDFT EF FNFSHFODJB QBSQBa EFBS䜫OVOBWF[ %FTCMPRVFP 5PEBTMBTQVFSUBT ZFMQPSU䜽OUSBTFSP TF EFTCMPRVFBO BM QVMTBS FM CPU䜽O EF EFTCMPRVFP -BT MVDFT EF FNFSHFODJB QBSQBEFBS䜫O EPT WFDFT QBSB JOEJDBS RVF UPEBT MBT QVFSUBTFTU䜫OEFTCMPRVFBEBT 5SBT QVMTBS FTUF CPU䜽O MBT QVFSUBT TF CMPRVFBS䜫O BVUPN䜫UJDBNFOUF B OP TFS RVFTFBCSBDVBMRVJFSQVFSUBFOTFa HVOEPT %FTCMPRVFPEFMQPSU䜽OUSBTFSP TJFTU䜫FRVJQBEP MQPSU䜽OUSBTFSPTFEFTCMPRVFBBMQVMa TBSFMCPU䜽OEVSBOUFN䜫TEFTFHVOEP -BT MVDFT EF FNFSHFODJB QBSQBEFBS䜫O EPT WFDFT QBSB JOEJDBS RVF FM QPSU䜽O USBTFSPFTU䜫EFTCMPRVFBEP 4JOFNCBSHP USBTQVMTBSFTUFCPU䜽O FM QPSU䜽OUSBTFSPTFCMPRVFBS䜫BVUPN䜫UJa DBNFOUFBOPTFSRVFTFBCSBFMQPSU䜽O USBTFSPFOTFHVOEPT %FOVFWP EFTQV䜳TEFBCSJSZDFSSBSFM QPSU䜽OUSBTFSP 䜳TUFTFCMPRVFBS䜫BVUPa N䜫UJDBNFOUF 䙓 OFMCPU䜽OFTU䜫MBQBMBCSB)0-% QBSBJOGPSNBSMFEFRVFEFCFQVMTBS Z NBOUFOFS QVMTBEP FM CPU䜽O EVa SBOUFTFHVOEP 1SFDBVDJPOFTEFMUSBOTNJTPS /05 MUSBOTNJTPSOPGVODJPOBS䜫TJPDVSSF BMHVOPEFMPTDBTPTTJHVJFOUFT 䳜 -BMMBWFEFFODFOEJEPFTU䜫FOFMJOa UFSSVQUPSEFFODFOEJEP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 100. $POUJO䝄B 䳜 4VQFSB MBEJTUBODJB M䜷NJUF EF GVOa DJPOBNJFOUP VOPTN 䳜 -BCBUFS䜷BEFMUSBOTNJTPSFTE䜳CJM 䳜 0USPTWFI䜷DVMPVPCKFUPTFTU䜫OCMPa RVFBOEPMBTF䜻BM 䳜 MUJFNQPFTEFNBTJBEPGS䜷P 䳜 M USBOTNJTPS FTU䜫 DFSDB EF VO USBOTNJTPS EF SBEJP DPNP VOB FNJTPSBEFSBEJPPVOBFSPQVFSUP RVF QPES䜷BO JOUFSGFSJS DPO FM GVOa DJPOBNJFOUP OPSNBM EFM USBOTNJa TPS $VBOEP FM USBOTNJTPS OP GVODJPOB DPSSFDUBNFOUF BCSB Z DJFSSF MBT QVFSUBTDPOMBMMBWFEFFODFOEJEP4J UJFOFBMH䝄OQSPCMFNBDPOFMUSBOTNJa TPS ,JBSFDPNJFOEBQPOFSTFFODPOa UBDUPDPOVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 4JFMUSBOTNJTPSFTU䜫DFSDBEFMUFa M䜳GPOP N䜽WJM P EFM UFM䜳GPOP JOUFMJa HFOUF MBTF䜻BMEFMUSBOTNJTPSQPa ES䜷BRVFEBSCMPRVFBEBQPSMBPQFa SBDJ䜽OOPSNBMEFTVUFM䜳GPOPN䜽WJM P TV UFM䜳GPOP JOUFMJHFOUF TUP FT FTQFDJBMNFOUF JNQPSUBOUF DVBOEP FM UFM䜳GPOP FTU䜫 BDUJWP DPNP BM IBDFSVOBMMBNBEB SFDJCJSVOBMMBa NBEB FOWJBSVONFOTBKFEFUFYUP ZPFOWJBSSFDJCJSFNBJMT WJUFEFKBSFMUSBOTNJTPSZFMUFM䜳a GPOP N䜽WJM P FM TNBSUQIPOF FO FM NJTNPCPMTJMMPEFMPTQBOUBMPOFTP EFMBDIBRVFUB ZEFKFVOBEJTUBOa DJBBEFDVBEBFOUSFMPTEPTEJTQPTJa UJWPT 5/$*䜝/ 䳜 MFKF FM USBOTNJTPS EF DVBMRVJFS BHVBPM䜷RVJEP4JFMTJTUFNBEFFOa USBEBTJOMMBWFTTFBWFS䜷BEFCJEPB MBFYQPTJDJ䜽OBBHVBPM䜷RVJEPT OP FTUBS䜫DVCJFSUPQPSMBHBSBOU䜷BEFM GBCSJDBOUFEFMWFI䜷DVMP $POUJO䝄B $POUJO䝄B 䳜 .BOUFOHBFMUSBOTNJTPSBMFKBEPEF NBUFSJBMFT FMFDUSPNBHO䜳UJDPT RVF CMPRVFFOMBTPOEBTFMFDUSPNBHO䜳a UJDBTEFMBTVQFSGJDJFEFMBMMBWF 5/$*䜝/ -PT DBNCJPT P NPEJGJDBDJPOFT OP BQSPCBEPTFYQSFTBNFOUFQPSMBQBSa UF SFTQPOTBCMF EF MB DPOGPSNJEBE QPES䜷BO BOVMBS MB BVUPSJ[BDJ䜽O EFM VTVBSJP QBSB PQFSBS FM FRVJQP 4J FM TJTUFNBEFFOUSBEBTJOMMBWFTFBWFa S䜷B EFCJEP B DBNCJPT P NPEJGJDBDJPa OFTSFBMJ[BEPTTJOBQSPCBDJ䜽OFYQSFa TB EF MB QBSUF SFTQPOTBCMF EF DPOa GPSNJEBE EJDIPTDBNCJPTOPFTUBS䜫O DVCJFSUPT QPS MB HBSBOU䜷B EFM GBCSJa DBOUFEFMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 101. $ $BNCJPEFMBQJMB MUSBOTNJTPSVTBVOBCBUFS䜷BEFMJUJPEF WPMUJPTRVFOPSNBMNFOUFEVSBWBSJPT B䜻PT4JGVFTFOFDFTBSJPDBNCJBSMB TJHB FMTJHVJFOUFQSPDFEJNJFOUP *OUSPEV[DB VOB IFSSBNJFOUB EFMHBa EBFOMBSBOVSBZQSFTJPOFDPODVJa EBEP QBSB BCSJS MB DVCJFSUB DFOUSBM EFMUSBOTNJTPS $BNCJF MB QJMB QPS VOB OVFWB $3 MDBNCJBSMBCBUFS䜷B WFa SJGJRVFMBQPTJDJ䜽OEFMBNJTNB $PMPRVFMBQJMBTJHVJFOEPFMQSPDFTP EFEFTNPOUBKFFOTFOUJEPJOWFSTP 1BSB SFFNQMB[BS FM USBOTNJTPS ,JB SFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ 䳜 M USBOTNJTPS EFM TJTUFNB EF FOa USBEBTJOMMBWFTFTU䜫EJTF䜻BEPQBSB GVODJPOBS TJO QSPCMFNBT EVSBOUF B䜻PT BVORVFQVFEFBWFSJBSTFTJTF FYQPOFBIVNFEBEPBFMFDUSJDJEBE FTU䜫UJDB 4J OP FTU䜫 TFHVSP BDFSDB EFD䜽NPVUJMJ[BSPDBNCJBSMBQJMB ,JBSFDPNJFOEBQPOFSTFFODPOUBDa UPDPOVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 M VTP EF VOB CBUFS䜷B JOBEFDVBEB QVFEF QSPWPDBS VO NBM GVODJPOBa NJFOUPEFMBMMBWFJOUFMJHFOUFPEFM USBOTNJTPSTFH䝄SFTFEFRVFFTU䜫 VTBOEPMBCBUFS䜷BDPSSFDUB 䳜 1BSB FWJUBS EB䜻PT BM USBOTNJTPS P FO MB MMBWF JOUFMJHFOUF OP MPT EFKF DBFS NPKBSTFOJMPTFYQPOHBBMDBa MPSPBMBMV[TPMBS 5/$*䜝/ %FTIBDFSTF JOBEFDVBEBNFOUF EF VOBQJMBQVFEFTFSQFSKVEJDJBMQBSBFM NFEJPBNCJFOUFZQBSBMBTBMVE %FTFDIFMBCBUFS䜷BTFH䝄OMBTEJTQPTJa DJPOFT P SFHVMBDJPOFT MPDBMFT WJHFOa UFT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 102. - --7*/5-*(/5 4*45䜋26*1%0 $PO VOBMMBWF JOUFMJHFOUF QVFEF CMPa RVFBS Z EFTCMPRVFBS VOB QVFSUB Z FM QPSU䜽O USBTFSP F JODMVTP BSSBODBS FM NPUPSTJOJOUSPEVDJSMBMMBWF -BTGVODJPOFTEFMPTCPUPOFTEFVOBMMBa WF JOUFMJHFOUF TPO TJNJMBSFT B MBT EF MB MMBWFQMFHBCMF 'VODJPOFTEFVOBMMBWF JOUFMJHFOUF MMMFWBSMBMMBWFJOUFMJHFOUF QVFEFCMPa RVFBSZEFTCMPRVFBSMBTQVFSUBTEFMWFa I䜷DVMP Z FM QPSU䜽O USBTFSP 5BNCJ䜳O QVFEF BSSBODBS FM NPUPS DPOUJOVBa DJ䜽O TFMFFYQMJDBN䜫TEFUBMMBEBNFOUF #MPRVFP 4JTFQVMTBFMCPU䜽OEFMBNBOJMMBFYUFa SJPSEFMBQVFSUBEFMBOUFSBFTUBOEPUPa EBTMBTQVFSUBT ZFMQPSU䜽OUSBTFSP DFa SSBEBT Z VOB EFTCMPRVFBEB TF CMPa RVFBO UPEBT MBT QVFSUBT Z FM QPSU䜽O USBTFSP 4JTFDJFSSBOUPEBTMBTQVFSUBT ZFMQPSU䜽OUSBTFSP ZFMDBQ䜽EFMNPa UPS MBTMVDFTEFFNFSHFODJBQBSQBEFBa S䜫OVOBWF[QBSBJOEJDBSRVFUPEBTMBT QVFSUBT ZFMQPSU䜽OUSBTFSP FTU䜫OCMPa RVFBEBT MCPU䜽OTPMPGVODJPOBS䜫DVBOEPMBMMBWF JOUFMJHFOUFFTU䜳B _NEFEJTUBODJB EFMBFNQV䜻BEVSBFYUFSJPSEFMBQVFSUB 4JRVJFSFBTFHVSBSTFEFRVFVOBQVFSUB TFIBDFSSBEPPOP EFCFDPNQSPCBSFM CPU䜽O EF CMPRVFP EFM JOUFSJPS EFM WFI䜷a DVMPPUJSBSEFMBNBOJMMBFYUFSJPS VORVF QVMTF MPT CPUPOFT EF MB FNQVa 䜻BEVSBFYUFSJPSEFMBQVFSUB MBTQVFSa UBTOPTFCMPRVFBS䜫OZMBTF䜻BMBD䝄TUJDB TPOBS䜫EVSBOUFTFHVOEPTTJTFQSPEVa DFBMHVOBEFMBTTJHVJFOUFTDJSDVOTUBOa DJBT 䳜 4F NBOUJFOF MB MMBWF JOUFMJHFOUF EFOa USPEFMWFI䜷DVMP 䳜 MCPU䜽O/(*/45354501 JOJDJP QBSBEBEFMNPUPS FTU䜫FOMBQPTJDJ䜽O $$V0/ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 103. 䳜 $VBMRVJFS QVFSUBFYDFQUP FM QPSU䜽O USBTFSPFTU䜫BCJFSUB % %FTCMPRVFP 4JTFQVMTBFMCPU䜽OEFMBNBOJMMBFYUFa SJPSEFMBQVFSUBEFMBOUFSBFTUBOEPUPa EBTMBTQVFSUBT ZFMQPSU䜽OUSBTFSP DFa SSBEBT Z CMPRVFBEBT TF EFTCMPRVFBO UPEBTMBTQVFSUBT ZFMQPSU䜽OUSBTFSP -BTMVDFTEFFNFSHFODJBQBSQBEFBOEPT WFDFT QBSB JOEJDBS RVF UPEBT MBT QVFSa UBT ZFMQPSU䜽OUSBTFSP FTU䜫OEFTCMPa RVFBEBT MCPU䜽OT䜽MPGVODJPOBS䜫DVBOEPMBMMBWF JOUFMJHFOUFFTU䜳B _NEFEJTUBODJB EFMBFNQV䜻BEVSBFYUFSJPSEFMBQVFSUB $VBOEP TF SFDPOPDF MB MMBWF JOUFMJHFOUF FOVOB[POBEF _NEFMBFNQV䜻Ba EVSBFYUFSJPSEFMBQVFSUB PUSBTQFSTPa OBTQVFEFOBCSJSMBTQVFSUBTJOUFOFSMB MMBWFJOUFMJHFOUF 5SBTQVMTBSFMCPU䜽O MBTQVFSUBTTFCMPa RVFBS䜫OBVUPN䜫UJDBNFOUFBOPTFSRVF TFBCSBDVBMRVJFSQVFSUBFOTFHVOa EPT %FTCMPRVFPEFMQPSU䜽OUSBTFSP 4JTFFODVFOUSBB N_NEFMBFNa QV䜻BEVSB FYUFSJPS EFM QPSU䜽O USBTFSP DPOTVMMBWFJOUFMJHFOUF FMQPSU䜽OUSBTFa SPTFEFTCMPRVFBS䜫ZBCSJS䜫DVBOEPQVMa TFFMJOUFSSVQUPSEFMBFNQV䜻BEVSBEFM QPSU䜽OUSBTFSP -BT MVDFT EF FNFSHFODJB QBSQBEFBS䜫O EPT WFDFT QBSB JOEJDBS RVF FM QPSU䜽O USBTFSPFTU䜫EFTCMPRVFBEP %FOVFWP EFTQV䜳TEFBCSJSZDFSSBSFM QPSU䜽OUSBTFSP FTUFTFCMPRVFBS䜫BVUPa N䜫UJDBNFOUF SSBORVF 1VFEF BSSBODBS FM NPUPS TJO JOUSPEVDJS MBMMBWF1BSBPCUFOFSN䜫TJOGPSNBDJ䜽O DPOTVMUF 䳖SSBORVF EFM NPUPS DPO VOB MMBWFJOUFMJHFOUF䳗FOMBQ䜫HJOB 1SFDBVDJPOFTDPOMBMMBWF JOUFMJHFOUF /05 䳜 4JQPSBMHVOBSB[䜽OQJFSEFMBMMBWF JOUFMJHFOUF OP QPES䜫 BSSBODBS FM NPUPS3FNPMRVFFMWFI䜷DVMP TJFT OFDFTBSJP Z Q䜽OHBTF FO DPOUBDUP DPOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB QPOFSTF FO DPOUBDUP DPO VODFOUSPEFTFSWJDJPEJTUSJCVJEPS ,JBBVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 $BEB WFI䜷DVMP QPES䜫 SFHJTUSBS VO N䜫YJNP EF MMBWFT JOUFMJHFOUF 4J QJFSEFVOBMMBWFJOUFMJHFOUF ,JBSFa DPNJFOEBQPOFSTFDPOUBDUPDPOVO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JB BVUPSJ[BEP 䳜 -B MMBWF JOUFMJHFOUF OP GVODJPOBS䜫 TJTFQSPEVDFBMHVOBEFMBTDPOEJa DJPOFTTJHVJFOUFT 4JMBMMBWFJOUFMJHFOUFFTU䜫DFSDB EF VO USBOTNJTPS EF SBEJP UBM DPNPVOBFNJTPSBEFSBEJPPVO BFSPQVFSUP FM GVODJPOBNJFOUP OPSNBM EF MB MMBWF QPES䜷B TVGSJS JOUFSGFSFODJBT -B MMBWF JOUFMJHFOUF FTU䜫 DFSDB EF VO TJTUFNB EF SBEJP QPSU䜫UJM PEFVOUFM䜳GPOPN䜽WJM 4FFTU䜫PQFSBOEPMBMMBWFJOUFMJa HFOUFEFPUSPWFI䜷DVMPDFSDBEF TVWFI䜷DVMP $VBOEPMBMMBWFJOUFMJHFOUFOPGVOa DJPOF BEFDVBEBNFOUF BCSB Z DJFa SSFMBTQVFSUBTDPOMBMMBWFNFD䜫OJa $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 104. $POUJO䝄B DB4JUJFOFBMH䝄OQSPCMFNBDPOMB MMBWF JOUFMJHFOUF ,JB SFDPNJFOEB QPOFSTFFODPOUBDUPDPOVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 䳜 4JMBMMBWFJOUFMJHFOUFFTU䜫DFSDBEFM UFM䜳GPOP N䜽WJM P EFM TNBSUQIPOF MB TF䜻BM EF MB MMBWF JOUFMJHFOUF QPa ES䜷BRVFEBSCMPRVFBEBQPSMBPQFa SBDJ䜽OOPSNBMEFTVUFM䜳GPOPN䜽WJM PTVTNBSUQIPOFTUPFTFTQFDJBMa NFOUFJNQPSUBOUFDVBOEPFMUFM䜳a GPOP FTU䜫 BDUJWP DPNP BM SFBMJ[BS VOB MMBNBEB SFDJCJS VOB MMBNBEB FOWJBS VO NFOTBKF EF UFYUP ZP FOWJBSSFDJCJS DPSSFPT FMFDUS䜽OJDPT WJUFEFKBSMBMMBWFJOUFMJHFOUFZFM UFM䜳GPOPN䜽WJMPFMTNBSUQIPOFFO FMNJTNPCPMTJMMPEFMPTQBOUBMPOFT P EF MB DIBRVFUB Z EFKF VOB EJTa UBODJBBEFDVBEBFOUSFMPTEPTEJTa QPTJUJWPT 5/$*䜝/ MFKFMBMMBWFJOUFMJHFOUFEFBHVBPM䜷a RVJEP 4J FM TJTUFNB EF FOUSBEB TJO MMBWFT TF BWFS䜷B EFCJEP B MB FYQPTJa DJ䜽OBBHVBVPUSPTM䜷RVJEPT OPFTUBa S䜫DVCJFSUPQPSMBHBSBOU䜷BEFMGBCSJa DBOUFEFMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 105. 4 4*45.%-3./5*330#0 4*45䜋26*1%0 -PTWFI䜷DVMPTFRVJQBEPTDPOVOTJTUFNB EFBMBSNBBOUJSSPCPMMFWBOVOBEIFTJWP DPOFMUFYUPTJHVJFOUF %735/$* %4(63*%%%%735/$* TUFTJTUFNBFTU䜫EJTF䜻BEPQBSBTVNJa OJTUSBS QSPUFDDJ䜽O DPOUSB FOUSBEBT OP BVUPSJ[BEBT EFOUSP EFM WFI䜷DVMP M TJTa UFNBTFPQFSBFOUSFTGBTFTQSJNFSPFM FTUBEP DUJWBEP TFHVOEP FM FTUBEP OUJSSPCPZUFSDFSPFMFTUBEP%FTBDa UJWBEP 4J FTU䜫 BDUJWBEP FM TJTUFNB SFBMJ[B VOB TF䜻BM BVEJCMF B MB WF[ RVF QBSQBEFBOMBTMVDFTEFFNFSHFODJB TUBEPBDUJWBEP 6TPEFMBMMBWFJOUFMJHFOUF QBSRVFFMWFI䜷DVMPZQBSFFMNPUPSDa UJWFFMTJTUFNBDPNPTFEFTDSJCFBDPOa UJOVBDJ䜽O QBHVFFMNPUPS TFH䝄SFTFEFRVFUPEBTMBTQVFSUBT Z FM QPSU䜽O USBTFSP Z FM DBQ䜽 EFM NPUPS FTU䜫O DFSSBEPT Z CMPRVFBa EPT 䳜 #MPRVFF MBT QVFSUBT QVMTBOEP FM CPU䜽OEFMBNBOJMMBFYUFSJPSEFMB QVFSUBEFMBOUFSBDPOMBMMBWFJOUFa MJHFOUFFOTVQPTFTJ䜽O %FTQV䜳TEFSFBMJ[BSMPTQBTPTBOa UFSJPSFT MBT MVDFT EF FNFSHFODJB QBSQBEFBS䜫OVOBWF[QBSBJOEJDBS RVFFMTJTUFNBFTU䜫BDUJWBEP 4J BMHVOB QVFSUB QFSNBOFDF BCJFSUB MBT QVFSUBT OP TF CMPa RVFBS䜫OZTPOBS䜫VOBTF䜻BMBD䝄Ta UJDBEVSBOUFTFHVOEPT$JFSSFMB QVFSUB F JOUFOUF EF OVFWP CMPa RVFBSMBTQVFSUBT 4JFMQPSU䜽OUSBTFSPPFMDBQ䜽QFSa NBOFDF BCJFSUP MBT MVDFT EF FNFSHFODJB OP GVODJPOBS䜫O Z MB BMBSNB BOUJSSPCP OP TF BDUJWBS䜫 %FTQV䜳TEFFTUP TJFMQPSU䜽OUSBa TFSPZFMDBQ䜽TFDJFSSBO MBTMVDFT EF FNFSHFODJB QBSQBEFBS䜫O VOB WF[ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 106. 䳜 #MPRVFF MBTQVFSUBT QVMTBOEP FM CPU䜽OEFCMPRVFPFOMBMMBWFJOUFa MJHFOUF %FTQV䜳TEFSFBMJ[BSMPTQBTPTBOa UFSJPSFT MBT MVDFT EF FNFSHFODJB QBSQBEFBS䜫OVOBWF[QBSBJOEJDBS RVFFMTJTUFNBFTU䜫BDUJWBEP 4JBMHVOBQVFSUB ZFMQPSU䜽OUSBa TFSP PFMDBQ䜽QFSNBOFDFBCJFSa UP MBT MVDFT EF FNFSHFODJB OP GVODJPOBS䜫OZMBBMBSNBBOUJSSPCP OP TF BDUJWBS䜫 %FTQV䜳T EF FTUP TJ UPEBT MBT QVFSUB Z FM QPSU䜽O USBTFSP Z FM DBQ䜽 EFM NPUPS TF DJFSSBO MBT MVDFT EF FNFSHFODJB QBSQBEFBS䜫OVOBWF[ 6 6TPEFMUSBOTNJTPS QBSRVFFMWFI䜷DVMPZQBSFFMNPUPSDa UJWFFMTJTUFNBDPNPTFEFTDSJCFBDPOa UJOVBDJ䜽O QBHVFFMNPUPSZSFUJSFMBMMBWFEFM JOUFSSVQUPSEFFODFOEJEP TFH䝄SFTFEFRVFUPEBTMBTQVFSUBT Z FM QPSU䜽O USBTFSP Z FM DBQ䜽 EFM NPUPS FTU䜫O DFSSBEPT Z CMPRVFBa EPT #MPRVFFMBTQVFSUBTQVMTBOEPFMCPa U䜽OEFCMPRVFPFOFMUSBOTNJTPS %FTQV䜳TEFSFBMJ[BSMPTQBTPTBOUFa SJPSFT MBTMVDFTEFFNFSHFODJBQBSa QBEFBS䜫O VOB WF[ QBSB JOEJDBS RVF FMTJTUFNBFTU䜫BDUJWBEP 4JBMHVOBQVFSUB ZFMQPSU䜽OUSBTFa SP PFMDBQ䜽QFSNBOFDFBCJFSUP MBT MVDFTEFFNFSHFODJBOPGVODJPOBS䜫O ZMBBMBSNBBOUJSSPCPOPTFBDUJWBa S䜫 %FTQV䜳T EF FTUP TJ UPEBT MBT QVFSUB ZFMQPSU䜽OUSBTFSP ZFMDBa Q䜽EFMNPUPSTFDJFSSBO MBTMVDFTEF FNFSHFODJBQBSQBEFBS䜫OVOBWF[ 䳜 / /PBDUJWFFMTJTUFNBIBTUBRVFUPEPT MPTPDVQBOUFTBCBOEPOFOFMWFI䜷DVMP 4J FM TJTUFNB FTU䜫 BDUJWBEP NJFOUSBT FM MPT PDVQBOUF T QFSNBOFDFOFOFM WFI䜷DVMP MBBMBSNBTFBDUJWBS䜫DVBOEP FM MPT PDVQBOUF T SFTUBOUF T BCBOa EPOFO FM WFI䜷DVMP 4J TF BCSF VOB QVFSUB FMQPSU䜽OUSBTFSPPFMDBQ䜽EFM NPUPSFOMPTTFHVOEPTQPTUFSJPSFT BMBBDUJWBDJ䜽OEFMTJTUFNB FMTJTUFNB TFEFTBDUJWBQBSBFWJUBSRVFTVFOFMB BMBSNB TUBEPEFMBBMBSNBBOUJSSPCP -BBMBSNBTFBDUJWBS䜫NJFOUSBTFMTJTUFa NBFTU䜫BDUJWBEPTJ 䳜 4FBCSFVOBQVFSUBTJOVTBSFMUSBOTa NJTPS PMMBWFJOUFMJHFOUF 䳜 4FBCSFFMQPSU䜽OUSBTFSPTJOVTBSFM USBOTNJTPS PMBMMBWFJOUFMJHFOUF 䳜 4FBCSFFMDBQ䜽EFMNPUPS M DMBYPO TPOBS䜫 Z MBT MVDFT EF FNFSa HFODJB QBSQBEFBS䜫O DPOTUBOUFNFOUF EVSBOUF BQSPYJNBEBNFOUF TFHVOa EPT1BSBEFTBDUJWBSFMTJTUFNB EFTCMPa RVFFMBTQVFSUBTDPOFMUSBOTNJTPS PMB MMBWFJOUFMJHFOUF TUBEPEFTBDUJWBEP MTJTUFNBTFEFTBDUJWBS䜫DVBOEP 5SBOTNJTPS 4FQVMTBFMCPU䜽OEFEFTCMPRVFPEFMB QVFSUB 4FBSSBODBFMNPUPS MJOUFSSVQUPSEFFODFOEJEPFTU䜫FOMB QPTJDJ䜽O䳖0/䳗EVSBOUFTFHVOEPTP N䜫T -MBWFJOUFMJHFOUF 4FQVMTBFMCPU䜽OEFEFTCMPRVFPEFMB QVFSUB MCPU䜽OEFMBQVFSUBFYUFSJPSEFMBOa UFSB TF QVMTB NJFOUSBT MMFWB MB MMBWF JOUFMJHFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 107. 4FBSSBODBFMNPUPS %FTQV䜳TEFBCSJSUPEBTMBTQVFSUBT MBT MVDFT EFFNFSHFODJB QBSQBEFBS䜫O EPT WFDFT QBSB JOEJDBS RVF FM TJTUFNB FTU䜫 EFTBDUJWBEP 5SBT QVMTBS FM CPU䜽O EF EFTCMPRVFP TJ DVBMRVJFSB EF MBT QVFSUBT P FM QPSU䜽O USBTFSP OPTFBCSFOFOTFHVOEPT FM TJTUFNBTFEFTBDUJWBS䜫 / /05 4JOTJTUFNBEFMJONPWJMJ[BEPS 䳜 *OUFOUBFWJUBSBSSBODBSFMNPUPSTJ MB BMBSNB FTU䜫 BDUJWBEB M BSSBOa RVF EFM NPUPS FTU䜫 EFTIBCJMJUBEP EVSBOUFMBGBTFEFBMBSNBBOUJSSPa CP 4JFMTJTUFNBOPTFEFTBDUJWBDPOFM NBOEPBEJTUBODJB JOTFSUFMBMMBWF FOFMJOUFSSVQUPSEFFODFOEJEP HJa SFFMJOUFSSVQUPSBMBQPTJDJ䜽O0/Z FTQFSF TFHVOEPT DPOUJOVBa DJ䜽O TFEFTBDUJWBS䜫FMTJTUFNB 䳜 4JQJFSEFMBTMMBWFT ,JBSFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP /05 4JTUFNBJONPWJMJ[BEPS 䳜 4JFMTJTUFNBOPTFEFTBDUJWBDPOFM USBOTNJTPS JOUSPEV[DB MB MMBWF FO FM JOUFSSVQUPS EF FODFOEJEP Z BSSBORVF FM NPUPS OUPODFT TF EFTBDUJWBS䜫FMTJTUFNB 䳜 4JQJFSEFMBTMMBWFT ,JBSFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ /P DBNCJF BMUFSF OJ BKVTUF FM TJTUFa NB EF BMBSNB BOUJSSPCP ZB RVF TF QPES䜷B QSPWPDBS VOB BWFS䜷B FO EJDIP TJTUFNB 4PMJDJUF FM NBOUFOJNJFOUP EFM TJTUFa NBFOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP -BT BWFS䜷BT QSPWPDBEBT QPS BMUFSBa DJPOFT JOBEFDVBEBT BKVTUFT P NPEJa GJDBDJPOFTFOFMTJTUFNBEFMBBMBSNB BOUJSSPCP OP FTU䜫O DVCJFSUBT QPS MB HBSBOU䜷BEFMGBCSJDBOUFEFMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 108. # #-0260%-416354 DDJPOBOEPMPTCMPRVFPTEFMBT QVFSUBTEFTEFFMFYUFSJPSEFM WFI䜷DVMP -MBWFNFD䜫OJDB 䳜 (JSFMBMMBWFIBDJBMBQBSUFUSBTFSBEFM WFI䜷DVMPQBSBCMPRVFBSZIBDJBMBQBSa UFEFMBOUFSBQBSBEFTCMPRVFBS 䳜 4JCMPRVFBPEFTCMPRVFBMBQVFSUBEFM DPOEVDUPSDPO VOB MMBWF MBT QVFSUBT TFCMPRVFBS䜫OPEFTCMPRVFBS䜫O 䳜 4JCMPRVFBPEFTCMPRVFBMBQVFSUBEFM DPOEVDUPS DPO VOB MMBWF UPEBT MBT QVFSUBT EFM WFI䜷DVMP TF CMPRVFBS䜫O P EFTCMPRVFBS䜫O BVUPN䜫UJDBNFOUF TJ FTU䜫FRVJQBEP 䳜 %FTEFMBQVFSUBEFMDPOEVDUPS HJSFMB MMBWFIBDJBMBQBSUFEFMBOUFSBEFMWFI䜷a DVMP VOB WF[ QBSB EFTCMPRVFBS MB QVFSUBEFMDPOEVDUPSZPUSBWF[FOVO QMB[P EF TFHVOEPT QBSB EFTCMPa RVFBSUPEBTMBTQVFSUBT TJFTU䜫FRVJa QBEP 䳜 6OB WF[ RVF MBT QVFSUBT FTU䜫O EFTa CMPRVFBEBT QVFEFO BCSJSTF UJSBOEP EFMBNBOJMMB 䳜 MDFSSBSMBQVFSUB FNQVKFMBQVFSUB DPO MB NBOP TFH䝄SFTF EF RVF MBT QVFSUBT FTU䜫O DPSSFDUBNFOUF DFSSBa EBT 5SBOTNJTPSMMBWFJOUFMJHFOUF 䳜 -BT QVFSUBT QVFEFO CMPRVFBSTF P EFTCMPRVFBSTFDPOFMUSBOTNJTPS PMB MMBWFJOUFMJHFOUF TJFTU䜫FRVJQBEP 䳜 -BT QVFSUBT QVFEFO CMPRVFBSTF Z EFTCMPRVFBSTF QVMTBOEP FM CPU䜽O EF MB NBOJMMB FYUFSJPS DPO MB MMBWF JOUFMJa HFOUFFOTVQPTFTJ䜽O 䳜 %FTEF MB QVFSUB EFM DPOEVDUPS QVMTF FMCPU䜽OEFEFTCMPRVFPVOBWF[QBSB EFTCMPRVFBSMBQVFSUBEFMDPOEVDUPSZ PUSB WF[ FO VO QMB[P EF TFHVOEPT QBSB EFTCMPRVFBS UPEBT MBT QVFSUBT TJFTU䜫FRVJQBEP 䳜 6OB WF[ RVF MBT QVFSUBT FTU䜫O EFTa CMPRVFBEBT QVFEFO BCSJSTF UJSBOEP EFMBNBOJMMB 䳜 MDFSSBSMBQVFSUB FNQVKFMBQVFSUB DPO MB NBOP TFH䝄SFTF EF RVF MBT QVFSUBT FTU䜫O DPSSFDUBNFOUF DFSSBa EBT /05 䳜 ODMJNBTGS䜷PTPI䝄NFEPT FMCMPa RVFPEFMBTQVFSUBTZMPTNFDBOJTa NPT EF MB QVFSUB QPES䜷BO OP GVOa DJPOBSDPSSFDUBNFOUFEFCJEPBMBT CBKBTUFNQFSBUVSBT 䳜 4JMBQVFSUBTFCMPRVFBEFTCMPRVFB WBSJBT WFDFT TVDFTJWBNFOUF CJFO DPOMBMMBWFEFMWFI䜷DVMPPCJFODPO FM JOUFSSVQUPS EF CMPRVFP EF MB QVFSUB FMTJTUFNBQPES䜷BEFKBSEF GVODJPOBS UFNQPSBMNFOUF QBSB QSPUFHFS FM DJSDVJUP Z FWJUBS EFTa QFSGFDUPT FO MPT DPNQPOFOUFT EFM TJTUFNB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 109. %735/$* 䳜 4JOPDJFSSBMBQVFSUBGJSNFNFOUF QPES䜷BBCSJSTFEFOVFWP 䳜 5FOHBDVJEBEPEFOPFOHBODIBSFM DVFSQPOJMBTNBOPTEFOBEJFBMDFa SSBSMBQVFSUB %735/$* 4JIBZQFSTPOBTRVFEFCFOQBTBSVO QFSJPEPEF UJFNQP QSPMPOHBEP FO FM JOUFSJPS DVBOEP IBDF NVDIP DBMPS P GS䜷PFOFMFYUFSJPS FYJTUFFMSJFTHPEF DBVTBSMFTMFTJPOFTPEFQPOFSTVWJEB FO QFMJHSP /P CMPRVFF FM WFI䜷DVMP EFTEFFMFYUFSJPSDVBOEPIBZBQFSTPa OBTFOFMJOUFSJPS 5/$*䜝/ /PDJFSSFOJBCSBMBTQVFSUBTEFGPSa NBSFQFUJEBDPOGSFDVFODJBOJFKFS[B VOB GVFS[B FYDFTJWB FO VOB QVFSUB NJFOUSBTFMEJTQPTJUJWPEFDJFSSFEFMB QVFSUBFTU䜳FOGVODJPOBNJFOUP DDJPOBOEPMPTCMPRVFPTEFMBT QVFSUBTEFTEFFMJOUFSJPSEFM WFI䜷DVMP $POFMCPU䜽OEFCMPRVFPEFMB QVFSUB 䳜 1BSBEFTCMPRVFBSVOBQVFSUB UJSFEFM CPU䜽OEFCMPRVFPEFMBQVFSUB IBa DJBMBQPTJDJ䜽OEF%FTCMPRVFP4FWFa S䜫MBNBSDBSPKBEFMCPU䜽O 䳜 1BSBCMPRVFBSVOBQVFSUB DPMPRVFFM CPU䜽OEFCMPRVFPEFMBQVFSUB FO MB QPTJDJ䜽O EF #MPRVFP 4J MB QVFSUB FTU䜫DPSSFDUBNFOUFCMPRVFBEB OPTF WFS䜫MBNBSDBSPKBFOFMCPU䜽OEFCMPa RVFPEFMBQVFSUB 䳜 1BSBBCSJSVOBQVFSUB UJSFEFMBNBOJa MMBEFMBQVFSUB IBDJBGVFSB 䳜 4J TF UJSB EF MB NBOJMMB JOUFSJPS EF MB QVFSUB EFM DPOEVDUPS P EFM BDPNQBa 䜻BOUF DVBOEPFMCPU䜽OEFCMPRVFPEF MBQVFSUBFTU䜫FOQPTJDJ䜽OEFCMPRVFP FMCPU䜽OTFEFTCMPRVFBZMBQVFSUBTF BCSF TJFTU䜫FRVJQBEP 䳜 -BQVFSUBEFMBOUFSBOPQVFEFDFSSBSa TFTJMBMMBWFEFFODFOEJEPFTU䜫FOFM DPOUBDUP PTJMBMMBWFJOUFMJHFOUFFTU䜫 FO FM WFI䜷DVMP Z MB QVFSUB EFMBOUFSB FTU䜫BCJFSUB %735/$* WFS䜷BEFCMPRVFPEFQVFSUBT 4JBMHVOBWF[GBMMBFMGVODJPOBNJFOUP EF MB QPUFODJB EFM CMPRVFP EF MB QVFSUBNJFOUSBTFTU䜫FOFMWFI䜷DVMP QSVFCFBMHVOBEFMBTTJHVJFOUFTU䜳Da OJDBTQBSBTBMJS 䳜 DDJPOFWBSJBTWFDFTMBGVODJ䜽OEF EFTCMPRVFP EF MB QVFSUB UBOUP NBOVBM DPNP FMFDUS䜽OJDBNFOUF NJFOUSBTUJSBTJNVMU䜫OFBNFOUFEF MBNBOJMMBEFMBQVFSUB $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 110. $POUJO䝄B 䳜 DDJPOF MBTPUSBT NBOJMMBT Z CMPa RVFPTEFMBTQVFSUBTEFMBOUFSBTZ USBTFSBT 䳜 #BKFMBWFOUBOBEFMBOUFSBZVTFMB MMBWF QBSB EFTCMPRVFBS MB QVFSUB EFTEFFMFYUFSJPS 䳜 %FTQM䜫DFTFBM䜫SFBEFDBSHBZBCSB FMQPSU䜽OUSBTFSP %735/$* /P UJSF EF MB NBOJMMB JOUFSJPS EF MB QVFSUBEFMDPOEVDUPS PEFMQBTBKFSP NJFOUSBT FM WFI䜷DVMP FTU䜳 FO NPWJa NJFOUP $POFMJOUFSSVQUPSEFDJFSSF DFOUSBMJ[BEP DDJPOFQVMTBOEPFMJOUFSSVQUPSEFCMPa RVFPEFMDJFSSFDFOUSBMJ[BEPEFQVFSUBT 䳜 MQVMTBSMBQBSUF EFMJOUFSSVQa UPS TF CMPRVFBS䜫O UPEBT MBT QVFSUBT EFMWFI䜷DVMP 䳜 MQVMTBSMBQBSUF EFMJOUFSSVQa UPS TFEFTCMPRVFBS䜫OUPEBTMBTQVFSa UBTEFMWFI䜷DVMP 䳜 4J MB MMBWF FTU䜫 FO FM JOUFSSVQUPS EF FODFOEJEP PTJMBMMBWFJOUFMJHFOUFFTa U䜫FOFMWFI䜷DVMP ZVOBEFMBTQVFSUBT FTU䜫 BCJFSUB MBT QVFSUBT OP TF CMPa RVFBS䜫OBVORVFTFQVMTFMBQBSUFEFa SFDIB EFM JOUFSSVQUPS EF CMPa RVFPEFMDJFSSFDFOUSBMJ[BEPEFQVFSa UBT %735/$* 1VFSUBT 䳜 -BT QVFSUBT EFCFO FTUBS TJFNQSF DPNQMFUBNFOUF DFSSBEBT Z CMPa RVFBEBT NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJNJFOUP QBSB FWJUBS BDDJa EFOUFTBMBCSJSMBQVFSUB-BTQVFSa UBT CMPRVFBEBT QVFEFO EJTVBEJS B QPTJCMFTJOUSVTPTNJFOUSBTFMWFI䜷a DVMPFTU䜫QBSBEPPBOEBEFTQBDJP 䳜 5FOHBDVJEBEPBMBCSJSMBTQVFSUBT Z DPO MPT WFI䜷DVMPT NPUPDJDMFUBT CJDJDMFUBTPQFBUPOFTRVFTFBDFSa RVFO BM WFI䜷DVMP FO MB [POB EF BQFSUVSB EF MB QVFSUB M BCSJS MB QVFSUB DVBOEP BMHVJFO TF BDFSDB QPES䜷BOQSPWPDBSEB䜻PTPMFTJPOFT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 111. %735/$* 7FI䜷DVMPTEFTCMPRVFBEPT %FKBOEP FMWFI䜷DVMP EFTCMPRVFBEP QVFEFJOWJUBSBMPTMBESPOFTPDBVTBS EB䜻PTBUFSDFSPTQSPWPDBEPTQPSBMa HVJFORVFTFFTDPOEBFOTVWFI䜷DVMP 4JFNQSFRVJUFMBMMBWFEFFODFOEJEP FOHBODIFFMGSFOPEFFTUBDJPOBNJFOa UP DJFSSF UPEBT MBT WFOUBOBT Z CMPa RVFFUPEBTMBTQVFSUBTBMEFKBSFMWFa I䜷DVMPTJOBUFODJ䜽O %735/$* /J䜻PTEFTBUFOEJEPT 6OWFI䜷DVMPDFSSBEPQVFEFDBMFOUBSa TF NVDIP QSPWPDBOEP MB NVFSUF P HSBWFT MFTJPOFT B MPT OJ䜻PT P B MPT BOJNBMFT EFTBUFOEJEPT RVF OP QVFa EFO FTDBQBS EFM WFI䜷DVMP EFN䜫T MPTOJ䜻PTQPES䜷BOBDDJPOBSBMHVOBEF MBT DBSBDUFS䜷TUJDBT EFM WFI䜷DVMP RVF QVFEBIFSJSMPTPQVFEFOFODPOUSBSTF DPOPUSPTQFMJHSPTDPNPQPSFKFNQMP DPOBMHVJFORVFJOUFOUFFOUSBSFOFM WFI䜷DVMP /P EFKF OJ䜻PT OJ BOJNBMFT TJOBUFODJ䜽OEFOUSPEFTVWFI䜷DVMP 4JTUFNBEFEFTCMPRVFPEFMB QVFSUBQPSEFUFDDJ䜽OEFJNQBDUP TJFTU䜫FRVJQBEP 5PEBTMBTQVFSUBTTFEFTCMPRVFBS䜫OBVa UPN䜫UJDBNFOUFEFTQV䜳TEFRVFTFEFTa QMJFHVFFMBJSCBHEFCJEPBVOJNQBDUP 4JTUFNBEFCMPRVFPBVUPN䜫UJDP EFQVFSUBTQPSTFOTPSEF WFMPDJEBE TJFTU䜫FRVJQBEP 5PEBTMBTQVFSUBTTFCMPRVFBS䜫OBVUPa N䜫UJDBNFOUF DVBOEP MB WFMPDJEBE EFM WFI䜷DVMP TPCSFQBTF MPT LNI : TF EFTCMPRVFBS䜫O UPEBT MBT QVFSUBT BM BQBHBSFMNPUPSZBMFYUSBFSMBMMBWFEF FODFOEJEP TJFTU䜫FRVJQBEP #MPRVFPEFMBQVFSUBUSBTFSBDPO FMTFHVSPQBSBOJ䜻PT -BGVODJ䜽OEFMTFHVSPQBSBOJ䜻PTFTFWJa UBSRVFMPTOJ䜻PTBCSBOBDDJEFOUBMNFOa UFMBTQVFSUBTUSBTFSBTEFTEFFMJOUFSJPS EFMWFI䜷DVMP-PTCMPRVFPTEFTFHVSJEBE EF MBT QVFSUBT USBTFSBT EFCFO VTBSTF TJFNQSFRVFIBZBVOOJ䜻PFOFMWFI䜷DVa MP CSBMBQVFSUBUSBTFSB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 112. *OUSPEV[DBVOBMMBWF PVOEFTUPSOJa MMBEPS FOFMPSJGJDJPZH䜷SFMPTB MB QPTJDJ䜽O EF CMPRVFP $VBOEP FM TFHVSP QBSB OJ䜻PT FTU䜫 FO MB QPTJa DJ䜽O EF CMPRVFP MB QVFSUB USBTFSB OPTFQPES䜫BCSJSBVORVFTFUJSFEF MBNBOJMMBJOUFSJPSEFMBQVFSUB $JFSSFMBQVFSUBUSBTFSB 1BSB BCSJS MB QVFSUB USBTFSB UJSF EF MB NBOJMMBFYUFSJPSEFMBQVFSUB VORVF MBT QVFSUBT FTU䜳O EFTCMPRVFBa EBT MB QVFSUB USBTFSB OP TF BCSJS䜫 UJa SBOEPEFMBNBOJMMBJOUFSJPSEFMBQVFSUB IBTUB RVF FM TFHVSP QBSB OJ䜻PT EF MB QVFSUBUSBTFSBFTU䜳EFTCMPRVFBEP %735/$* #MPRVFP EF MBT QVFSUBT USBTFa SBT 4J FM OJ䜻P BCSF BDDJEFOUBMNFOUF MBT QVFSUBTUSBTFSBTNJFOUSBTFMWFI䜷DVa MPFTU䜫FONPWJNJFOUP QVFEFODBFSa TFMPRVFMFQSPWPDBS䜷BHSBWFTMFTJPa OFTPMBNVFSUF1BSBFWJUBSRVFMPT OJ䜻PT BCSBO MBT QVFSUBT USBTFSBT EFTEF FM JOUFSJPS FM TFHVSP QBSB OJa $POUJO䝄B $POUJO䝄B 䜻PTEFMBQVFSUBUSBTFSBEFCFVTBSTF TJFNQSF RVF IBZB OJ䜻PT EFOUSP EFM WFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 113. 1 1035䜝/53430 QFSUVSBEFMQPSU䜽OUSBTFSP 䳜 M QPSU䜽OUSBTFSP TF CMPRVFB P TF EFTCMPRVFB DVBOEP TF CMPRVFBO P TF EFTCMPRVFBOUPEBTMBTQVFSUBTDPOFM USBOTNJTPS PMBMMBWFJOUFMJHFOUF PFM JOUFSSVQUPS EF CMPRVFBEP DFOUSBMJ[Ba EP 䳜 4J FTU䜫 EFTCMPRVFBEP FM QPSU䜽O USBa TFSPQVFEFBCSJSTFQVMTBOEPMBNBOJa MMBZUJSBOEPEFFMMBIBDJBBSSJCB 䳜 $VBOEP UPEBT MBT QVFSUBT FTU䜳O CMPa RVFBEBT TJTFQVMTBFMCPU䜽OEFEFTa CMPRVFPEFMQPSU䜽OUSBTFSPFOMBMMBWF JOUFMJHFOUF EVSBOUF N䜫T EF TFHVOEP FMQPSU䜽OUSBTFSPTFEFTa CMPRVFB%FTQV䜳TEFBCSJSZDFSSBSFM QPSU䜽OUSBTFSP 䜳TUFTFCMPRVFBBVUPa N䜫UJDBNFOUF 䙓 /PIBZPSJGJDJPQBSBMBMMBWF /05 O DMJNBT GS䜷PT P I䝄NFEPT FM CMPa RVFPEFMBQVFSUBZMPTNFDBOJTNPT EF MB QVFSUB QPES䜷BO OP GVODJPOBS DPSSFDUBNFOUF EFCJEP B MBT CBKBT UFNQFSBUVSBT %735/$* MQPSU䜽OUSBTFSPTFBCSFIBDJBBSSJa CBTFH䝄SFTFEFRVFOPIBZBOJPCa KFUPT OJ QFSTPOBT DFSDB EF MB QBSUF USBTFSBEFMWFI䜷DVMPBMBCSJSFMQPSU䜽O USBTFSP 5/$*䜝/ TFH䝄SFTFEFRVFIBDFSSBEPFMQPSa U䜽OUSBTFSPBOUFTEFDPOEVDJSTVWFa I䜷DVMP 1PES䜷BO QSPEVDJSTF EB䜻PT FO MPT DJMJOESPT EF FMFWBDJ䜽O EFM QPSU䜽O USBTFSPZFOFMIBSEXBSFDPSSFTQPOa EJFOUFTJFMQPSU䜽OUSBTFSPOPTFDJFa SSBBOUFTEFMBDPOEVDDJ䜽O $JFSSFEFMQPSU䜽OUSBTFSP 1BSB DFSSBS FM QPSU䜽O USBTFSP CBKF Z FNQVKF FM QPSU䜽O USBTFSP DPO GVFS[B TFH䝄SFTFEFRVFFMQPSU䜽OUSBTFSPFTa U䜫DPSSFDUBNFOUFFOHBODIBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 114. %735/$* TFH䝄SFTFBOUFTEFDFSSBSFMQPSU䜽O USBTFSP EF RVFOP TF WB B QJMMBS MBT NBOPT MPTQJFTPDVBMRVJFSPUSBQBSa UFEFMDVFSQP 5/$*䜝/ TFH䝄SFTFEFRVFOPIBZBOBEBDFSa DB EFM QFTUJMMP EFM QPSU䜽O USBTFSP Z EFMQFSDVTPSBMDFSSBSFMQPSU䜽OUSBa TFSP1PES䜷BEB䜻BSFMQFTUJMMPEFMQPSa U䜽OUSBTFSP %735/$* )VNPTEFFTDBQF 4J DPOEVDF DPO FM QPSU䜽O USBTFSP BCJFSUP FOUSBS䜫O FO FM WFI䜷DVMP MPT QFMJHSPTPT IVNPT EF FTDBQF RVF QVFEFOQSPWPDBSMFTJPOFTPMBNVFSa UFBMPTPDVQBOUFTEFMWFI䜷DVMP 4J UJFOF RVF DPOEVDJS DPO FM QPSU䜽O USBTFSPBCJFSUP NBOUFOHBMBTWFOUJa MBDJPOFTEFBJSFZUPEBTMBTWFOUBOBT $POUJO䝄B $POUJO䝄B BCJFSUBT QBSB RVF FOUSF N䜫T BJSF EFTEFFMFYUFSJPS %735/$* ;POBEFDBSHBUSBTFSB -PTPDVQBOUFTOVODBEFCFONPOUBSa TF FO MB [POB EF DBSHB USBTFSB QPSa RVFOPFYJTUFOJOH䝄OTJTUFNBEFTVa KFDJ䜽O EJTQPOJCMF 1BSB FWJUBS EB䜻PT FO DBTP EF BDDJEFOUF P EF GSFOBEBT SFQFOUJOBT MPT PDVQBOUFT TJFNQSF EFCFFTUBSDPSSFDUBNFOUFTVKFUPT %735/$* /JOHVOBQFSTPOBEFCFJSFOFMNBMFa UFSP M NBMFUFSP FT VOB VCJDBDJ䜽O NVZQFMJHSPTBFODBTPEFDPMJTJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 115. 7 7/5/*--4 *OUFSSVQUPS EFMFMFWBMVOBT FM䜳DUSJDP EFMBQVFSUBEFMDPOEVDUPS *OUFSSVQUPS EFM FMFWBMVOBT FM䜳DUSJDP EFMBDPNQB䜻BOUF *OUFSSVQUPS EFM FMFWBMVOBT EF MB QVFSUBUSBTFSB J[RVJFSEB *OUFSSVQUPS EFM FMFWBMVOBT EF MB QVFSUBUSBTFSB EFSFDIB QFSUVSBZDJFSSFEFMBTWFOUBOJMMBT 4VCJEB EFM FMFWBMVOBT BVUPN䜫UJDP CBKBEB WFOUBOJMMBEFMDPOEVDUPS *OUFSSVQUPSEFCMPRVFPEFMFMFWBMVa OBTFM䜳DUSJDP /05 ODMJNBTGS䜷PTZMMVWJPTPT MPTFMFWBa MVOBTFM䜳DUSJDPTQPES䜷BOOPGVODJPOBS DPSSFDUBNFOUF DPO UFNQFSBUVSBT CBKPDFSP MFWBMVOBTFM䜳DUSJDPT TJFTU䜫 FRVJQBEP M JOUFSSVQUPS EFM FMFWBMVOBT FM䜳DUSJDP EFCFFTUBSFOMBQPTJDJ䜽O0/QBSBBDDJPa OBSMPTFMFWBMVOBTFM䜳DUSJDPT TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 116. $BEB QVFSUB UJFOFVO JOUFSSVQUPS EFM FMFWBMVOBTFM䜳DUSJDPRVFDPOUSPMBMBWFOa UBOJMMBEFEJDIBQVFSUBMDPOEVDUPSUJFa OFVOJOUFSSVQUPSEFCMPRVFPEFMPTFMFa WBMVOBT FM䜳DUSJDPT RVF QVFEF CMPRVFBS FMGVODJPOBNJFOUPEFMBTWFOUBOJMMBTEF MPT QBTBKFSPT USBTFSPT M FMFWBMVOBT FM䜳DUSJDP QVFEF BDDJPOBSTF EVSBOUF BQSPYJNBEBNFOUF TFHVOEPT EFTa QV䜳TEFTBDBSMBMMBWFEFFODFOEJEPPHJa SBSMB B MB QPTJDJ䜽O $$ BDDFTPSJPT P -0$, CMPRVFP 4JO FNCBSHP TJ MBT QVFSUBT EFMBOUFSBT FTU䜫O BCJFSUBT OP QVFEFO BDDJPOBSTF MPT FMFWBMVOBT FM䜳Da USJDPTFOMPTTFHVOEPTQPTUFSJPSFTB MBFYUSBDDJ䜽OEFMBMMBWFEFFODFOEJEP TJ FTU䜫FRVJQBEP 4JMBWFOUBOJMMBOPTFQVFEFDFSSBSQPSa RVF FTU䜫 CMPRVFBEB QPS PCKFUPT SFUJSF MPTPCKFUPTZDJFSSFMBWFOUBOJMMB / /05 M DPOEVDJS DPO MBT WFOUBOBT USBTFa SBT BCJFSUBT P DPO FM UFDIP TPMBS TJ FTU䜫FRVJQBEP FOQPTJDJ䜽OBCJFSUB P QBSDJBMNFOUF BCJFSUB FM WFI䜷DVMP QVFEFQSPEVDJSVOSVJEPEFHPMQFTEF BJSF P EF QVMTBDJ䜽O TUF SVJEP FT OPSNBMZQVFEFSFEVDJSTFPFMJNJOBSa $POUJO䝄B $POUJO䝄B TF UPNBOEP MBT NFEJEBT TJHVJFOUFT 4JFMSVJEPTFQSPEVDFQPSRVFVOBP MBT EPT WFOUBOJMMBT USBTFSBT FTU䜫O CBKBEBT CBKF QBSDJBMNFOUF MBT EPT WFOUBOJMMBT EFMBOUFSBT BQSPYJNBEBa NFOUFNN4JFMSVJEPTFQSPEVDF QPSRVF FM UFDIP TPMBS FTU䜫 BCJFSUP SFEV[DB MJHFSBNFOUF MB BCFSUVSB EFM NJTNP %735/$* /PDPMPRVFBDDFTPSJPTFOFM䜫SFBEF MBTWFOUBOJMMBT1PES䜷BODIPDBSDPOMB QSPUFDDJ䜽ODPOUSBPCKFUPTBUBTDBEPT QFSUVSBZDJFSSFEFMBTWFOUBOJMMBT -B QVFSUB EFM DPOEVDUPS UJFOF VO JOUFa SSVQUPSNBFTUSPEFMPTFMFWBMVOBTFM䜳Da USJDPT RVF DPOUSPMB UPEBT MBT WFOUBOBT EFMWFI䜷DVMP 1BSBBCSJSPDFSSBSVOBWFOUBOJMMB QVMTF IBDJBBCBKPPUJSFIBDJBBSSJCBEFMBQBSa UFEFMBOUFSBEFMJOUFSSVQUPSDPSSFTQPOa EJFOUFIBTUBMBQSJNFSBQPTJDJ䜽OEFEFa UFODJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 117. # #BKBEBBVUPN䜫UJDBEFMBT WFOUBOJMMBT TJFTU䜫FRVJQBEP 1VMTBOEP FMJOUFSSVQUPS EFM FMFWBMVOBT FM䜳DUSJDPVONPNFOUPIBTUBMBTFHVOEB QPTJDJ䜽OEFEFUFODJ䜽O TFCBKBDPNa QMFUBNFOUFMBWFOUBOJMMBJODMVTPBVORVF TFTVFMUFFMJOUFSSVQUPS1BSBEFUFOFSMB WFOUBOJMMB FO MB QPTJDJ䜽O RVF TF EFTFF NJFOUSBT FTU䜫 FO GVODJPOBNJFOUP UJSF EFMJOUFSSVQUPSVONPNFOUPFOMBEJSFDa DJ䜽OPQVFTUBBMNPWJNJFOUPEFMBWFOUBa OJMMB 4VCJEB#BKBEBBVUPN䜫UJDBEFMB WFOUBOJMMB TJFTU䜫FRVJQBEP 1VMTBOEP P UJSBOEP EFM JOUFSSVQUPS EFM FMFWBMVOBT FM䜳DUSJDP NPNFOU䜫OFBNFOa UF B MB TFHVOEB QPTJDJ䜽O EF EFUFODJ䜽O TFCBKBPTFTVCFDPNQMFUBNFOUFMB WFOUBOJMMB JODMVTP BVORVF TF TVFMUF FM JOUFSSVQUPS 1BSB EFUFOFS MB WFOUBOJMMB FOMBQPTJDJ䜽ORVFEFTFBNJFOUSBTFTU䜫 PQFSBOEP UJSFPQVMTFZTVFMUFFMJOUFa SSVQUPSFOMBEJSFDDJ䜽OPQVFTUBBMNPWJa NJFOUP 4J FM FMFWBMVOBT FM䜳DUSJDP OP GVODJPOB DPSSFDUBNFOUF FM TJTUFNB BVUPN䜫UJDP EFMFMFWBMVOBTFM䜳DUSJDPEFCFSFJOJDJBSTF EFMBTJHVJFOUFNBOFSB $PMPRVFFMJOUFSSVQUPSEFFODFOEJEP FOMBQPTJDJ䜽O0/ $JFSSFMBWFOUBOJMMBZDPOUJO䝄FUJSBOa EP EFM JOUFSSVQUPS EFM FMFWBMVOBT FM䜳DUSJDP EFM DPOEVDUPS EVSBOUF TFHVOEP DPNP N䜷OJNP EFTQV䜳T EFRVFMBWFOUBOJMMBFTU䜳DPNQMFUBa NFOUFDFSSBEB *OWFSTJ䜽OBVUPN䜫UJDBEFMTFOUJEP 4JFMNPWJNJFOUPEFTVCJEBEFMBWFOUBa OJMMBFTU䜫CMPRVFBEPQPSVOPCKFUPPVOB QBSUFEFMDVFSQP MBWFOUBOJMMBEFUFDUBMB SFTJTUFODJBZEFUJFOFFMNPWJNJFOUPEF BTDFOTP-BWFOUBOJMMBEFTDFOEFS䜫BQSPa YJNBEBNFOUFDNQBSBQFSNJUJSRVF TFQVFEBFYUSBFSFMPCKFUP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 118. 4J MB WFOUBOJMMBEFUFDUB SFTJTUFODJB NJFOUSBTTFUJSBEFMJOUFSSVQUPSEFMFMFa WBMVOBT FM䜳DUSJDP DPOUJOVBNFOUF MB WFOUBOJMMBTFEFUFOES䜫ZCBKBS䜫BQSPYJa NBEBNFOUF DN :TJFMJOUFSSVQUPSEFMFMFWBMVOBTFM䜳DUSJa DPWVFMWFBUJSBSTFEFNBOFSBDPOUJOVB FO MPT TFHVOEPT TJHVJFOUFT EFTQV䜳T EF RVF MB WFOUBOJMMB IBZB EFTDFOEJEP HSBDJBT B MB GVODJ䜽O EF JOWFSTJ䜽O EF MB WFOUBOJMMB MBJOWFSTJ䜽OBVUPN䜫UJDBEFMB WFOUBOJMMBOPGVODJPOBS䜫 / /05 -B GVODJ䜽O EF JOWFSTJ䜽O BVUPN䜫UJDB EF MB WFOUBOJMMB EFM DPOEVDUPS FTU䜫 T䜽MP BDUJWB TJ MB GVODJ䜽O EF TVCJEB BVUPN䜫UJDB TF JOJDJB UJSBOEP QPS DPNQMFUPEFMJOUFSSVQUPS-BGVODJ䜽O EF JOWFSTJ䜽O BVUPN䜫UJDB OP GVODJPa OBS䜫TJMBWFOUBOJMMBTFTVCFVUJMJ[BOa EP MB QPTJDJ䜽O JOUFSNFEJB EFM JOUFa SSVQUPSEFMFMFWBMVOBTFM䜳DUSJDP %735/$* $PNQSVFCFTJFNQSFTJFYJTUFOPCTU䜫a DVMPTBOUFTEFTVCJSDVBMRVJFSWFOUBa OJMMB QBSB FWJUBS MFTJPOFT P EB䜻PT BM WFI䜷DVMP 4JVOPCKFUPEFVOEJ䜫NFUSPJOGFSJPS BNNTFRVFEBCMPRVFBEPFOUSFFM DSJTUBMZMBHV䜷BTVQFSJPSEFMBWFOUBa OJMMB FTQPTJCMFRVFMBGVODJ䜽OEFJOa WFSTJ䜽O BVUPN䜫UJDB EF MB WFOUBOJMMB OPEFUFDUFMBSFTJTUFODJBZ QPSUBOa UP OPTFEFUFOHBZDBNCJFEFEJSFDa DJ䜽O %735/$* -B GVODJ䜽O EF JOWFSTJ䜽O BVUPN䜫UJDB OP TF BDUJWB NJFOUSBT TF SFJOJDJB FM TJTUFNBEFMPTFMFWBMVOBTFM䜳DUSJDPT OUFTEFDFSSBSMBTWFOUBOJMMBT BTFa H䝄SFTFEFRVFOBEJFTBRVFMBDBCF[B V PUSB QBSUF EFM DVFSQP OJ PCKFUPT QPSMBTNJTNBTQBSBFWJUBSMFTJPOFTZ EB䜻PTBMWFI䜷DVMP #PU䜽OEFCMPRVFPEFMFMFWBMVOBT FM䜳DUSJDP TJFTU䜫FRVJQBEP 䳜 MDPOEVDUPSQVFEFEFTBDUJWBSMPTJOa UFSSVQUPSFT EFM FMFWBMVOBT FM䜳DUSJDP EFBNCBTQVFSUBTUSBTFSBTDPMPDBOEP FM CPU䜽O EF CMPRVFP EFM FMFWBMVOBT FM䜳DUSJDPVCJDBEPFOMBQVFSUBEFMDPOa EVDUPSFOMBQPTJDJ䜽O-0$, QSFTJPOBa EP 䳜 $ $VBOEP FM CPU䜽O EFM FMFWBMVOBT FM䜳Da USJDPFTU䜫FOMBQPTJDJ䜽O-0$, QSFTJPa OBEP FMDPOUSPMNBFTUSPEFMDPOEVDa UPS QVFEF BDDJPOBS MPT FMFWBMVOBT FM䜳DUSJDPTEFUPEBTMBTQVFSUBT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 119. 5/$*䜝/ 䳜 1BSBFWJUBSQPTJCMFTEB䜻PTEFMTJTa UFNB EFMFMFWBMVOBT FM䜳DUSJDP OP BCSBOJDJFSSFEPTPN䜫TWFOUBOBT BM NJTNP UJFNQP TUP UBNCJ䜳O BTFHVSBVOBNBZPSWJEB䝄UJMEFMGVa TJCMF 䳜 /PJOUFOUFPQFSBSBMNJTNPUJFNQP FMJOUFSSVQUPSQSJODJQBMFOMBQVFSUB EFMDPOEVDUPSZFMJOUFSSVQUPSJOEJa WJEVBM EF MB WFOUBOJMMB FO EJSFDDJPa OFT PQVFTUBT %F MP DPOUSBSJP MB WFOUBOJMMB TF QBSBS䜫 Z OP QPES䜫 BCSJSTFOJDFSSBSTF %735/$* 7FOUBOJMMBT 䳜 /6/$ EFKF MB MMBWF EF FODFOEJEP FOFMJOUFSJPSEFMWFI䜷DVMPDPOOJ䜻PT TJO TVQFSWJTJ䜽O DPO FM NPUPS FO GVODJPOBNJFOUP $POUJO䝄B $POUJO䝄B 䳜 /6/$ EFKF B OJ䜻PT TJO BUFODJ䜽O EFOUSP EFM WFI䜷DVMP *ODMVTP MPT OJa 䜻PT N䜫T QFRVF䜻PT QVFEFO QSPWPa DBSJOWPMVOUBSJBNFOUFRVFFMDPDIF TF NVFWB TF QVFEFO FOHBODIBS DPOMBTWFOUBOBT MFTJPOBSTFPFOa DFSSBSTFBFMMPTNJTNPTPBPUSPT 䳜 $PNQSVFCFEPTWFDFTQBSBBTFHVa SBSTF EF RVF MPT CSB[PT NBOPT DBCF[B V PUSBT PCTUSVDDJPOFT FTa U䜫OTFHVSBTGVFSBEFMUSBZFDUPBOa UFTEFFNQF[BSBDFSSBSMBWFOUBa OJMMB 䳜 /PEFKFRVFMPTOJ䜻PTKVFHVFODPO MPTFMFWBMVOBTFM䜳DUSJDPT.BOUFOHB FM JOUFSSVQUPS EF CMPRVFP EFM FMFa WBMVOBT FM䜳DUSJDP EF MB QVFSUB EFM DPOEVDUPSFOMBQPTJDJ䜽O#-0260 QVMTBEP 4FQVFEFOQSPWPDBSHSBa WFTMFTJPOFTTJVOOJ䜻PBDDJPOBJOa WPMVOUBSJBNFOUFMBWFOUBOB 䳜 .JFOUSBTDPOEVDF OPTBRVFMBDBSB P MPT CSB[PT QPS MB WFOUBOJMMB RVF TFFTU䜫BCSJFOEP 7FOUBOJMMBTNBOVBMFT TJFTU䜫 FRVJQBEP 1BSBTVCJSPCBKBSMBTWFOUBOJMMBT HJSFMB NBOJMMB SFHVMBEPSB EF MB WFOUBOJMMB FO TFOUJEPIPSBSJPPBOUJIPSBSJP %735/$* MBCSJSPDFSSBSMBTWFOUBOBT BTFH䝄a SFTFRVFMPTCSB[PTEFMBDPNQB䜻BOa UF MBTNFOPTZFMDVFSQPFTU䜫GVFSB EFMSFDPSSJEPEFMBWFOUBOB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 120. $ $1䜝 QFSUVSBEFMDBQ䜽 1BSBTPMUBSFMDJFSSFEFMDBQ䜽 UJSFEF MBQBMBODBEFBQFSUVSBMDBQ䜽EFa CFS䜷BTBMUBSZBCSJSTFMJHFSBNFOUF %735/$* CSBFMDBQ䜽EFTQV䜳TEFQBSBSFMNPa UPSFOVOBTVQFSGJDJFQMBOBTFMFDDJPa OBS MB QPTJDJ䜽O EF FTUBDJPOBNJFOUP 1 FOMBUSBOTNJTJ䜽OBVUPN䜫UJDBPMB QSJNFSB NBSDIB B P MB NBSDIB BUS䜫T 3 FOMBUSBOTNJTJ䜽ONBOVBM Z $POUJO䝄B $POUJO䝄B BDDJPOBS FM GSFOP EF FTUBDJPOBNJFOa UP 7BZBBMBQBSUFEFMBOUFSBEFMWFI䜷a DVMP FMFWF FM DBQ䜽 MJHFSBNFOUF EFTQV䜳TUJSFEFMFOHBODIF JOUFa SJPSEFMDFOUSPEFMDBQ䜽ZMFWBOUFFM DBQ䜽 5JSFEFMBCBSSBEFTPQPSUFTJUVBEB FOFMDBQ䜽 .BOUFOHBFMDBQ䜽BCJFSUPDPMPDBOEP MBCBSSBEFTPQPSUF %735/$* 1JF[BTDBMJFOUFT HBSSFMBCBSSBEFTPQPSUFQPSMB[Pa OBDVCJFSUBQPSFMUBQ䜽OBNBSJMMP MUBQ䜽OFWJUBS䜫RVFTFRVFNFDPOFM NFUBMDVBOEPFMNPUPSFTU䜳DBMJFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 121. EWFSUFODJBEFBQFSUVSBEFM DBQ䜽 TJFTU䜫FRVJQBEP MNFOTBKFEFBEWFSUFODJB QBSBUBCMFSP EFJOTUSVNFOUPTUJQP#BQBSFDFS䜫FOMB QBOUBMMB-$%DVBOEPFMDBQ䜽FTU䜳BCJFSa UP -BTF䜻BMBD䝄TUJDBEFBEWFSUFODJBTFBDa UJWBS䜫BMDPOEVDJSFMWFI䜷DVMPBVOBWFMPa DJEBE TVQFSJPS B LNI DPO FM DBQ䜽 BCJFSUP $JFSSFEFMDBQ䜽 OUFTEFDFSSBSFMDBQ䜽 DPNQSVFCF MPTJHVJFOUF 䳜 5PEBT MBT UBQBT EF MMFOBEP EFM DPNQBSUJNFOUP EFM NPUPS EFCFO FTUBSDPSSFDUBNFOUFNPOUBEBT 䳜 -PT HVBOUFT USBQPT Z DVBMRVJFS NBUFSJBM DPNCVTUJCMF EFCF RVJa UBSTFEFMDPNQBSUJNFOUPEFMNPa UPS 7VFMWBBDPMPDBSMBCBSSBEFTPQPSUF QBSB RVF RVFEF FOHBODIBEB Z FWJa UBSRVFSFTVFOF #BKFFMDBQ䜽IBTUBRVFTFFODVFOUSF B VOPT DN TPCSF MB QPTJDJ䜽O EF DJFSSF Z E䜳KFMP DBFS TFH䝄SFTF EF RVFTFCMPRVFBFOTVTJUJP $PNQSVFCF RVF FM DBQ䜽 TF IBZB BDPQMBEPBEFDVBEBNFOUF4JFMDBQ䜽 TF QVFEF MFWBOUBS MJHFSBNFOUF OP FTU䜫BDPQMBEPBEFDVBEBNFOUF 䜋CSBMPEFOVFWPZDJ䜳SSFMPFKFSDJFOa EPVOQPDPN䜫TEFGVFS[B %735/$* 䳜 OUFTEFDFSSBSFMDBQ䜽 BTFH䝄SFTF EF RVF TF RVJUBO UPEBT MBT PCTa USVDDJPOFTQBSBMBBQFSUVSBEFMDBa Q䜽4JDJFSSBFMDBQ䜽DPOBMHVOBEF MBTPCTUSVDDJPOFTVUJMJ[BEBTQBSBMB BQFSUVSB EFM DBQ䜽 QPES䜷B QSPWPDBS EB䜻PTPHSBWFTMFTJPOFT $POUJO䝄B $POUJO䝄B 䳜 /P EFKF HVBOUFT USBQPT P DVBMa RVJFSPUSPNBUFSJBMDPNCVTUJCMFFO FMDPNQBSUJNFOUPEFMNPUPS4JMPT EFKBTF QPES䜷BQSPWPDBSVOJODFOEJP JOEVDJEPQPSFMDBMPS %735/$* 䳜 $PNQSVFCFTJFNQSFEPTWFDFTRVF FMDBQ䜽FTU䜫DPSSFDUBNFOUFDFSSBa EPBOUFTEFFNQF[BSBDPOEVDJS4J OPFTU䜫FOHBODIBEP FMDBQ䜽QPES䜷B BCSJSTF NJFOUSBT TF FTU䜫 DPOEVa DJFOEP FM WFI䜷DVMP QSPWPDBOEP MB Q䜳SEJEB UPUBM EF MB WJTJCJMJEBE MP DVBMQPES䜷BQSPWPDBSVOBDDJEFOUF 䳜 -BCBSSBEFTPQPSUFEFCFJOUSPEVa DJSTF DPNQMFUBNFOUF FO FM PSJGJDJP VCJDBEP FO FM DBQ䜽 TJFNQSF RVF DPNQSVFCF FM DPNQBSUJNFOUP EFM NPUPS TUP FWJUBS䜫 RVF FM DBQ䜽 DBJHBZMFQSPEV[DBBMHVOBMFTJ䜽O 䳜 /P NVFWB FM WFI䜷DVMP DPO FM DBQ䜽 MFWBOUBEP4FCMPRVFBMBWJTJ䜽OZFM DBQ䜽QPES䜷BDBFSTFPEB䜻BSTF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 122. 5 51%--/%0%$0.#645*#- QFSUVSBEFMBUBQBEFMMFOBEP EFDPNCVTUJCMF -BUBQBEFMMFOBEPEFDPNCVTUJCMFEFCF BCSJSTFEFTEFFMJOUFSJPSEFMWFI䜷DVMPUJa SBOEPEFMBQBMBODBEFMBUBQBEFMMFOBa EP EF DPNCVTUJCMFVCJDBEB FO MB [POB EFM TVFMP EFMBOUFSP EFCBKP EFM BTJFOUP EFMDPOEVDUPS /05 4JMBUBQBEFMMFOBEPEFDPNCVTUJCMF OP TF BCSF QPSRVF TF IB GPSNBEP IJFMP FO MPT BMSFEFEPSFT HPMQ䜳FMB MJa HFSBNFOUFPQVMTFMBUBQBQBSBSPNa QFSFMIJFMPZEFTCMPRVFBSMBUBQB/P IBHBQBMBODBFOMBQVFSUB4JFTOFa DFTBSJP QVMWFSJDFMPTBMSFEFEPSFTEF MBUBQBDPOVOM䜷RVJEPBOUJDPOHFMBOUF OP VUJMJDF FM BOUJDPOHFMBOUF EFM SBa EJBEPS PNVFWBFMWFI䜷DVMPBVOMVa HBSN䜫TDBMJFOUFZEFKFRVFFMIJFMP TFEFSSJUB 1BSFFMNPUPS 1BSB BCSJS MB UBQB EF MMFOBEP EF DPNCVTUJCMF UJSF EF MB QBMBODB EF BQFSUVSB EF MB UBQB EF MMFOBEP EF DPNCVTUJCMFIBDJBBSSJCB 5JSFIBDJBGVFSBEFMBUBQBEFMMFOBa EP EF DPNCVTUJCMF QBSB BCSJSMB DPNQMFUBNFOUF 1BSBRVJUBSMBUBQB HJSFMBUBQBEFM EFQ䜽TJUP EF DPNCVTUJCMF FO FM TFOUJEP DPOUSBSJP B MBT BHVKBT EFM SFMPK 3FQPTUFDVBOUPTFBOFDFTBSJP $JFSSFEFMBUBQBEFMMFOBEPEF DPNCVTUJCMF 1BSB NPOUBS MB UBQB H䜷SFMB FO FM TFOUJEPEFMBTBHVKBTEFMSFMPKIBTUB RVFTFFTDVDIFVODMJDTUPJOEJDB RVFMBUBQBFTU䜫GJSNFNFOUFDFSSBa EB $JFSSF MB UBQB EF MMFOBEP EF DPNa CVTUJCMF Z QSFTJ䜽OFMB MJHFSBNFOUF IBTUBRVFRVFEFDPSSFDUBNFOUFDFa SSBEB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 123. % %FQ䜽TJUPEFHBTPMJOBFOFM DPNQBSUJNFOUPEFMNPUPS WFI䜷DVMPEFDPNCVTUJCMF'MFY QBSB#SBTJMZ1BSBHVBZ 4J TV WFI䜷DVMPFT VO WFI䜷DVMP EF DPNa CVTUJCMF 'MFY ''7 EFCF DPNQSPCBSTF ZFMEFQ䜽TJUPEFCFMMFOBSTFDPOHBTPMJOB QBSBFMBSSBORVFFOGS䜷PDVBOEPMBUFNa QFSBUVSB FYUFSJPS TFB CBKB JOGFSJPS B 䛺$ -B DBQBDJEBE OPNJOBM EFM EFQ䜽TJUP EF HBTPMJOB QBSB MPT BSSBORVFT FO GS䜷P FT EF MJUSPTZFMEFQ䜽TJUPTFFODVFOUSB FOFMDPNQBSUJNFOUPEFMNPUPS -MFOF FM EFQ䜽TJUP DPO HBTPMJOB QBSB FM BSSBORVFFOGS䜷PIBTUBBMDBO[BSMBM䜷OFB .9 N䜫YJNB 4J MB HBTPMJOB SFCPTB MJNQJF FM DPNCVTUJCMF RVF IB SFCPTBEP DPOMBUPBMMB %735/$* 3FQPTUBKF 䳜 4J FM DPNCVTUJCMF QSFTVSJ[BEP TBMF B DIPSSPT 䜳TUF QPES䜷B FOUSBS FO DPOUBDUPDPOMBSPQBZMBQJFMZQSPa WPDBS GVFHP P RVFNBEVSBT 2VJUF FM UBQ䜽O EFM DPNCVTUJCMF TJFNQSF DPODVJEBEPZEFTQBDJP4JFMUBQ䜽O FTU䜫 EFKBOEP FTDBQBS DPNCVTUJCMF P TJ FTDVDIB VO TPOJEP EF TJTFP FTQFSF IBTUB RVF FTUF SVJEP QBSF BOUFTEFRVJUBSDPNQMFUBNFOUFFM UBQ䜽O 䳜 /PTJHBMMFOBOEPEFTQV䜳TEFRVF MB CPRVJMMB TF DJFSSF BVUPN䜫UJDBa NFOUFBMSFQPTUBS 䳜 $PNQSVFCF TJFNQSF RVF FM UBQ䜽O EFM DPNCVTUJCMF FTU䜳 DPMPDBEP EF GPSNB TFHVSB QBSB FWJUBS EFSSBa NFTEFDPNCVTUJCMFFODBTPEFBDa DJEFOUF %735/$* 1FMJHSPTEFSFQPTUBKF -PT DPNCVTUJCMFT EF BVUPN䜽WJM TPO JOGMBNBCMFT %VSBOUF FM SFQPTUBKF QSFTUFBUFODJ䜽OBMBTTJHVJFOUFTJOEJa DBDJPOFT 4J OP TJHVJFTF FTUBT JOTa USVDDJPOFTQVFEFTVGSJSHSBWFTMFTJPa OFT QFSTPOBMFT RVFNBEVSBT P MB NVFSUFQPSGVFHPPFYQMPTJ䜽O 䳜 -FB Z TJHB UPEBT MBT BEWFSUFODJBT EFMBJOTUBMBDJ䜽OEFHBT 䳜 OUFT EF SFQPTUBS DPNQSVFCF E䜽OEF FTU䜫 FM BQBHBEP EF FNFSa HFODJBEFMBHBTPMJOB TJFTU䜫EJTQPa OJCMFFOFTBFTUBDJ䜽OEFTFSWJDJP 䳜 OUFTEFUPDBSMBCPRVJMMBEFDPNa CVTUJCMF EFCF FMJNJOBS MPT SJFTHPT EFEFTDBSHBEFFMFDUSJDJEBEFTU䜫UJa DBUPDBOEPPUSBQJF[BNFU䜫MJDBEFM WFI䜷DVMP BVOBEJTUBODJBEFTFHVSJa EBEDPOSFTQFDUPBMDVFMMPEFMMFOBa EP EF DPNCVTUJCMF MB CPRVJMMB P DVBMRVJFSGVFOUFEFHBTPMJOB $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 124. $POUJO䝄B 䳜 /P WVFMWBB FOUSBS FO FM WFI䜷DVMP VOB WF[ RVF IB DPNFO[BEP B SFa QPTUBSZBRVFQVFEFHFOFSBSFMFDa USJDJEBEFTU䜫UJDB UPDBOEP SP[BOEP P EFTMJ[䜫OEPTF DPO DVBMRVJFS FMFa NFOUP P UFKJEP QPMJ䜳TUFS TBU䜳O P OBJM䜽O DBQBDFTEFQSPEVDJSFMFDUSJa DJEBE FTU䜫UJDB -B EFTDBSHB EF FMFDUSJDJEBE FTU䜫UJDB QVFEF JOGMBa NBS MPT WBQPSFT EF DPNCVTUJCMF Z QSPWPDBSVOBS䜫QJEBRVFNBEVSB4J EFCFWPMWFSBFOUSBSFOFMWFI䜷DVMP EFCFFMJNJOBSEFOVFWPMPTQPTJCMFT SJFTHPTEFEFTDBSHBEFFMFDUSJDJEBE FTU䜫UJDBUPDBOEPVOBQBSUFNFU䜫MJa DB EFM WFI䜷DVMP BMFKBEB EFM DVFMMP EF MMFOBEP EF DPNCVTUJCMF MB CPa RVJMMB P DVBMRVJFS PUSB GVFOUF EF HBTPMJOB $POUJO䝄B $POUJO䝄B 䳜 4J VUJMJ[B VO SFDJQJFOUF QBSB DPNa CVTUJCMF BEFDVBEP BTFH䝄SFTF EF DPMPDBSMPFOFMTVFMPQBSBFMSFQPTa UBKF -B EFTDBSHB EF FMFDUSJDJEBE FTU䜫UJDBEFTEFFMSFDJQJFOUFQVFEF QSFOEFS MPT WBQPSFT EF DPNCVTUJa CMFZQSPWPDBSVOJODFOEJP 6OB WF[ RVF IBZB DPNFO[BEP FM SFQPTUBKF OPQJFSEBEFWJTUBFMWFa I䜷DVMPIBTUBDPNQMFUBSFMMMFOBEP 6UJMJDFT䜽MPEFQ䜽TJUPTEFDPNCVTUJa CMF QPSU䜫UJMFT BEFDVBEPT QBSB USBOTQPSUBSZHVBSEBSMBHBTPMJOB 䳜 /P VUJMJDF FM UFM䜳GPOP N䜽WJM NJFOa USBTFTU䜳SFQPTUBOEP-BDPSSJFOUF FM䜳DUSJDB ZP MBT JOUFSGFSFODJBT FMFDUS䜽OJDBTEFMPTUFM䜳GPOPTN䜽WJa MFTQVFEFOJOGMBNBSMPTWBQPSFTEF DPNCVTUJCMF Z QSPWPDBS VO JODFOa EJP $POUJO䝄B $POUJO䝄B 䳜 QBHVFTJFNQSFFMNPUPSBOUFTEF SFQPTUBS -BT DIJTQBT QSPEVDJEBT QPSMPTDPNQPOFOUFTFM䜳DUSJDPTSFa MBDJPOBEPTDPOFMNPUPSQVFEFOJOa GMBNBSMPTWBQPSFTEFDPNCVTUJCMF Z QSPWPDBS VO JODFOEJP 6OB WF[ RVFIBZBDPNQMFUBEPFMSFQPTUBKF BTFH䝄SFTF EF RVF MB UBQB Z MB QVFSUB EF MMFOBEP FTU䜫O DPSSFDUBa NFOUFDFSSBEBTBOUFTEFBSSBODBS FMNPUPS 䳜 /0VUJMJDFOJDFSJMMBTOJVONFDIFSP Z/0'6.PEFKFVODJHBSSJMMPFOa DFOEJEPFOFMWFI䜷DVMPNJFOUSBTFTa U䜫FOVOBHBTPMJOFSBFTQFDJBMNFOa UF EVSBOUF FM SFQPTUBKF -PT DPNa CVTUJCMFT EFM BVUPN䜽WJM TPO BMUBa NFOUF JOGMBNBCMFT BM QSFOEFSTF QSPWPDBOGVFHP 䳜 4JTFFODJFOEFVOGVFHPEVSBOUFFM SFQPTUBKF BCBOEPOF MBT JONFEJBa DJPOFT EFM WFI䜷DVMP Z DPOUBDUF JOa NFEJBUBNFOUFDPOFMEJSFDUPSEFMB FTUBDJ䜽O EF TFSWJDJP Z EFTQV䜳T DPOUBDUF DPO MPT CPNCFSPT 4JHB UPEBT MBT JOTUSVDDJPOFT RVF MF TVa NJOJTUSFO $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 125. 5/$*䜝/ 䳜 TFH䝄SFTFEFSFQPTUBSTVWFI䜷DVMP TFH䝄OMPT䳖3FRVJTJUPTEFMDPNCVTa UJCMF䳗 FOMB Q䜫HJOB JOEJDBEPT FOMBTFDDJ䜽O 䳜 4JOFDFTJUBDBNCJBSMBUBQBEFMMFa OBEPEFDPNCVTUJCMF BTFH䝄SFTFEF VUJMJ[BS QJF[BT EJTF䜻BEBT QBSB FM SFQVFTUPFOTVWFI䜷DVMP 4J VUJMJ[B VOB UBQB EF MMFOBEP EF DPNCVTUJCMFJODPSSFDUBQPES䜷BQSPa WPDBSBWFS䜷BTHSBWFTFOFMTJTUFNB EFDPNCVTUJCMFPFOFMTJTUFNBEFM DPOUSPMEFFNJTJPOFT1BSBPCUFOFS N䜫T JOGPSNBDJ䜽O ,JB SFDPNJFOEB QPOFSTFFODPOUBDUPDPOVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 䳜 /P WJFSUB DPNCVTUJCMF FO MBT TVa QFSGJDJFT FYUFSJPSFT EFM WFI䜷DVMP $VBMRVJFS DPNCVTUJCMF WFSUJEP TPa CSFMBTTVQFSGJDJFTQJOUBEBTQVFEF QSPWPDBSEB䜻PTFOMBQJOUVSB 䳜 %FTQV䜳T EF SFQPTUBS DPNQSVFCF TJFNQSF RVF MB UBQB EF DPNCVTUJa CMF FTU䜫 NPOUBEB DPSSFDUBNFOUF QBSB FWJUBS RVF TF WJFSUB FO DBTP EFBDDJEFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 126. 5 5$)040-3 4*45䜋26*1%0 4JFMWFI䜷DVMPFTU䜫FRVJQBEPDPOVOUFa DIP TPMBS QVFEF EFTMJ[BSMP P JODMJOBSMP DPOMBQBMBODBEFDPOUSPMEFMUFDIPTPMBS VCJDBEBFOMBDPOTPMBTVQFSJPS M UFDIP TPMBS TPMP QVFEF BCSJSTF DFa SSBSTFPJODMJOBSTFDVBOEPFMJOUFSSVQUPS EFFODFOEJEPFTU䜫FOMBQPTJDJ䜽O0/PFM CPU䜽O /(*/ 45354501 JOJDJP QBSBEB EFM NPUPS FTU䜳 FO MB QPTJDJ䜽O 0/ /05 䳜 O DMJNBT GS䜷PT P I䝄NFEPT FM UFa DIP TPMBS QPES䜷B OP GVODJPOBS DPa SSFDUBNFOUF EFCJEP B MBT CBKBT UFNQFSBUVSBT 䳜 %FTQV䜳T EF MBWBS FM WFI䜷DVMP P FO DBTPEFMMVWJB BTFH䝄SFTFEFMJNQJBS MPTSFTUPTEFBHVBRVFIBZBFOFM UFDIPTPMBSBOUFTEFBDDJPOBSMP 5/$*䜝/ 䳜 /P TJHB NPWJFOEP MB QBMBODB EF DPOUSPMEFMUFDIPTPMBSEFTQV䜳TEF RVFTFIBZBBCJFSUP DFSSBEPPJOa DMJOBEPQPSDPNQMFUP%FMPDPOUSBa SJP QPES䜷B EB䜻BS FM NPUPS P MPT DPNQPOFOUFTEFMTJTUFNB 䳜 TFH䝄SFTF EF RVF FM UFDIP TPMBS FTU䜫 DPNQMFUBNFOUF DFSSBEP BM BCBOEPOBSTVWFI䜷DVMP 4J FM UFDIP TPMBS FTU䜫 BCJFSUP MB MMVWJB P MB OJFWF QPES䜷BO DPMBSTF B USBW䜳T EFM UFDIP TPMBS Z NPKBS FM JOUFSJPS BEFN䜫TQPES䜷BTFSMBDBVa TBEFVOSPCP /05 M UFDIP TPMBS OP QVFEF EFTMJ[BSTF DVBOEP FTU䜫 FO QPTJDJ䜽O JODMJOBEB OJ QVFEFJODMJOBSTFDVBOEPFTU䜫FOQPa TJDJ䜽OBCJFSUBPEFTMJ[BEB %735/$* /VODBBKVTUFFMUFDIPTPMBSPFMQBSBa TPM NJFOUSBT DPOEVDF 1PES䜷B DBVTBS MB Q䜳SEJEB EF DPOUSPM Z QSPWPDBS VO BDDJEFOUF DPO SFTVMUBEP EF MFTJ䜽O HSBWF NVFSUFPEB䜻PTNBUFSJBMFT %735/$* 䳜 1BSB FWJUBS VO BDDJPOBNJFOUP JNa QSFWJTUP EFM UFDIP TPMBS FTQFDJBMa NFOUFQPSQBSUFEFVOOJ䜻P OPEFa KFRVFOJOH䝄OOJ䜻PMPBDDJPOF 䳜 /P TF TJFOUF FO MB QBSUF TVQFSJPS EFM WFI䜷DVMP 4F QPES䜷BO QSPWPDBS EB䜻PTFOFMWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 127. % %FTMJ[BNJFOUPEFMUFDIPTPMBS 1BSBBCSJSFMUFDIPTPMBS FNQVKFMBQBa MBODBEFDPOUSPMEFMNJTNPIBDJBBUS䜫T 1BSBDFSSBSFMUFDIPTPMBS QVMTFMBQBa MBODBEF DPOUSPM EFM UFDIP TPMBS IBDJB EFMBOUF 1BSB BCSJS FM UFDIP TPMBS BVUPN䜫UJDBNFOUF 5JSFEFMBQBMBODBEFDPOUSPMEFMUFDIP TPMBS IBDJB BUS䜫T Z B DPOUJOVBDJ䜽O Z TV䜳MUFMBMUFDIPTPMBSTFEFTMJ[BS䜫BMB QPTJDJ䜽O EF BQFSUVSB SFDPNFOEBEB VOPT DN BOUFT EF MB QPTJDJ䜽O EF BQFSUVSBEFEFTMJ[BNJFOUPN䜫YJNB 1BSBEFUFOFSFMEFTMJ[BNJFOUPEFMUFDIP TPMBSFOBMH䝄OQVOUP FNQVKFEFMBQBa MBODBEFDPOUSPMEFMUFDIPTPMBS 1BSB DFSSBS FM UFDIP TPMBS BVUPN䜫UJDBNFOUF NQVKFMBQBMBODBEFDPOUSPMEFMUFDIP TPMBSIBDJBEFMBOUFZ BDPOUJOVBDJ䜽O Z TV䜳MUFMB M UFDIP TPMBS TF EFTMJ[B EF GPSNBBVUPN䜫UJDBIBTUBDFSSBSTFDPNa QMFUBNFOUF 1BSBEFUFOFSFMEFTMJ[BNJFOUPEFMUFDIP TPMBSFOBMH䝄OQVOUP FNQVKFEFMBQBa MBODBEFDPOUSPMEFMUFDIPTPMBS /05 1BSBSFEVDJSFMSVJEPEFMWJFOUPNJFOa USBTDPOEVDF TFSFDPNJFOEBDPOEVa DJSDPOFMUFDIPTPMBSMJHFSBNFOUFDFa SSBEP EFUFOHBFMUFDIPTPMBSBVOPT DNBOUFTEFMBQPTJDJ䜽OEFBQFSUVa SBEFEFTMJ[BNJFOUPN䜫YJNB %735/$* OUFTEFDFSSBSMBWFOUBOJMMB BTFH䝄a SFTFEFRVFOBEJFTBRVFMBDBCF[BV PUSBQBSUFEFMDVFSQPOJPCKFUPTQBSB FWJUBSMFTJPOFTZEB䜻PTBMWFI䜷DVMP TQPTJCMFRVFMBWFOUBOJMMBDPOJOWFSa TJ䜽O BVUPN䜫UJDB OP EFUFDUF PCKFUPT EFNFOPTEFNNEFEJ䜫NFUSPRVF TFFODVFOUSFOFOUSFFMDSJTUBMEFMUFa DIP TPMBS Z FM DBOBM EF MB WFOUBOJMMB EFMBOUFSB Z MB WFOUBOJMMB OP TF EFa UFOES䜫OJJS䜫FOEJSFDDJ䜽OJOWFSTB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 128. * *OWFSTJ䜽OBVUPN䜫UJDBEFMTFOUJEP 4JTFEFUFDUBVOPCKFUPPVOBQBSUFEFM DVFSQPNJFOUSBTFMUFDIPTPMBSTFDJFSSB BVUPN䜫UJDBNFOUF 䜳TUFJOWJFSUFFMTFOa UJEPEFMBNBSDIBZTFQBSB -BGVODJ䜽OEFSFUSPDFTPBVUPN䜫UJDPOP GVODJPOB TJTF FODVFOUSB VO QFRVF䜻P PCTU䜫DVMPFOUSFFMDSJTUBMEFTMJ[BOUFZFM NBSDPEFMUFDIPTPMBS7FSJGJRVFRVFMPT QBTBKFSPTFTU䜳OBMFKBEPTEFMUFDIPTPMBS ZRVFOPTFFODVFOUSFOJOH䝄OPCKFUPFO FMNJTNPBOUFTEFDFSSBSMP %735/$* 䳜 /P JOUFOUF FOHBODIBSTF OJOHVOB QBSUFEFMDVFSQPJOUFODJPOBEBNFOa UFQBSBBDUJWBSMBGVODJ䜽OEFSFUSPa DFTPBVUPN䜫UJDP 䳜 TQPTJCMFRVFMBGVODJ䜽OEFSFUSPa DFTPBVUPN䜫UJDPOPGVODJPOFTJBMa HPTFRVFEBFOHBODIBEPBOUFTEF RVF FM UFDIP TPMBS TF DJFSSF QPS DPNQMFUP *ODMJOBDJ䜽OEFMUFDIPTPMBS 1BSB BCSJS FM UFDIP TPMBS FNQVKF EF MB QBMBODBEFDPOUSPMEFMUFDIPTPMBSIBDJB BSSJCBIBTUBDPMPDBSFMUFDIPTPMBSBMB QPTJDJ䜽OEFTFBEB 1BSBDFSSBSFMUFDIPTPMBS FNQVKFEFMB QBMBODB EFM UFDIP TPMBS IBDJB EFMBOUF IBTUBDPMPDBSFMUFDIPTPMBSBMBQPTJDJ䜽O EFTFBEB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 129. %735/$* 䳜 OUFTEFDFSSBSFMUFDIPTPMBS BTFa H䝄SFTFEFRVFOBEJFTBRVFMBDBCFa [BVPUSBQBSUFEFMDVFSQPOJPCKFa UPTQBSBFWJUBSMFTJPOFTZEB䜻PTBM WFI䜷DVMP 䳜/VODBBKVTUFFMUFDIPTPMBSPFMQBa SBTPMNJFOUSBTDPOEVDFMMPQPES䜷B DBVTBSMBQ䜳SEJEBEFDPOUSPMEFMWFa I䜷DVMPZQSPWPDBSVOBDDJEFOUF 䳜 1BSB FWJUBS MFTJPOFT HSBWFT P MB NVFSUF OPFYUJFOEBMBDBCF[B MPT CSB[PTOJFMDVFSQPGVFSBEFMUFDIP TPMBSNJFOUSBTDPOEVDF 5/$*䜝/ 䳜 2VJUF QFSJ䜽EJDBNFOUF MB TVDJFEBE RVFTFQVFEFBDVNVMBSFOMPTSB䜷a MFTEFMBHV䜷B 䳜 4JJOUFOUBBCSJSFMUFDIPTPMBSDVBOa EP MB UFNQFSBUVSB FT JOGFSJPS B MB EF DPOHFMBDJ䜽O P DVBOEP FM UFDIP TPMBSFTU䜫DVCJFSUPEFOJFWFPIJFa MP TF QVFEFO EB䜻BS FM DSJTUBM P FM NPUPS $POUJO䝄B $POUJO䝄B 䳜 4JFMUFDIPTPMBSTFIBVUJMJ[BEPEVa SBOUF VO MBSHP QFSJPEP EF UJFNQP FM QPMWP FOUSF FM UFDIP TPMBS Z FM QBOFMQVFEFQSPEVDJSSVJEP CSBFMUFDIPTPMBSZFMJNJOFQFSJ䜽a EJDBNFOUF FM QPMWP DPO VO USBQP MJNQJP 䳜 M UFDIP TPMBS FTU䜫 EJTF䜻BEP QBSB EFTMJ[BSTFKVOUPDPOFMQBSBTPM/P EFKFFMQBSBTPMDFSSBEPNJFOUSBTFM UFDIPTPMBSFTU䜫BCJFSUP 1BSBTPM M QBSBTPM TF BCSJS䜫 BVUPN䜫UJDBNFOUF DPO FM QBOFM EF DSJTUBM B MB WF[ RVF FM QBOFMEFDSJTUBMTFEFTMJ[B4JRVJFSFDFa SSBSMP UFOES䜫RVFIBDFSMPNBOVBMNFOa UF 3FBKVTUFEFMUFDIPTPMBS 3FBKVTUFFMUFDIPTPMBS FOMPTDBTPTTJa HVJFOUFT -B CBUFS䜷B FTU䜫 EFTDBSHBEB P EFTDPa OFDUBEB P TF IB DBNCJBEP P EFTDPa OFDUBEPFMGVTJCMFDPSSFTQPOEJFOUF -BGVODJ䜽OEFEFTMJ[BNJFOUPEFMUFDIP TPMBS EF VO UPRVF OP GVODJPOB DPO OPSNBMJEBE $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 130. M JOUFSSVQUPS EFFODFOEJEP EFCF FTUBSFOMBQPTJDJ䜽O0/ $JFSSFFMUFDIPTPMBSDPNQMFUBNFOa UF 4VFMUFMBQBMBODBEFDPOUSPM NQVKF MB QBMBODB EF DPOUSPM IBDJB EFMBOUFIBTUBRVFFMUFDIPTPMBSTF JODMJOF MJHFSBNFOUF IBDJB BSSJCB Z IBDJB BCBKP DPOUJOVBDJ䜽O TVFMUF MBQBMBODB NQVKF MB QBMBODB EF DPOUSPM IBDJB EFMBOUFIBTUBRVFUFDIPTPMBSGVOa DJPOFEFMBTJHVJFOUFGPSNB */$-*/$*䜝/ )$* #+0 ª %4a -*;.*/50%13563ª%4a -*;.*/50%$*33 DPOUJOVBDJ䜽O TVFMUFMBQBMBODBEF DPOUSPM 4JFMUFDIPTPMBSOPGVODJPOBBEFDVBEBa NFOUFEFTQV䜳TEFSFJOJDJBSMP TPMJDJUFB VO UBMMFS QSPGFTJPOBM MB DPNQSPCBDJ䜽O EFM TJTUFNB ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP 5/$*䜝/ 4JFMUFDIPTPMBSOPTFSFJOJDJBDVBOEP MBCBUFS䜷BEFMWFI䜷DVMPTFEFTDPOFDUB PTFEFTDBSHBPFMGVTJCMFDPSSFTQPOa EJFOUF FTU䜫 GVOEJEP FM UFDIP TPMBS QPES䜷BGVODJPOBSEFNBOFSBJODPSSFDa UB EWFSUFODJBEFBQFSUVSBEFM UFDIPTPMBS TJFTU䜫FRVJQBEP 4JFMDPOEVDUPSFYUSBFMBMMBWFEFFODFOa EJEP MMBWF JOUFMJHFOUF BQBHB FM NPUPS TJO RVF FM UFDIP TPMBS FTU䜳 DPNQMFUBa NFOUFDFSSBEPTPOBS䜫VOBTF䜻BMBD䝄TUJa DB EF BEWFSUFODJB EVSBOUF VOPT TFHVOEPTZBQBSFDFS䜫VONFOTBKF FO MPTUBCMFSPTEFJOTUSVNFOUPTUJQP# FO MBQBOUBMMB-$% $JFSSF FM UFDIP TPMBS EF GPSNB TFHVSB DVBOEPBCBOEPOFTVWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 131. 7 70-/5%%*3$$*䜝/ %JSFDDJ䜽OBTJTUJEBFM䜳DUSJDB TJ FTU䜫FRVJQBEP -BEJSFDDJ䜽OBTJTUJEBVTBFMNPUPSQBSB BZVEBSBEJSJHJSFMWFI䜷DVMP4JFMNPUPS FTU䜫 QBSBEPP MB EJSFDDJ䜽O BTJTUJEB OP FTUVWJFTF PQFSBUJWB FM WFI䜷DVMP QPES䜫 UPEBW䜷BEJSJHJSTFQFSPTFS䜫OFDFTBSJPVO NBZPSFTGVFS[P -B EJSFDDJ䜽O BTJTUJEB BDDJPOBEB QPS FM NPUPSTFDPOUSPMBQPSMBVOJEBEEFDPOa USPMEFMBEJSFDDJ䜽OBTJTUJEBRVFEFUFDUB FMQBSEFMWPMBOUF MBQPTJDJ䜽OEFMWPMBOa UFZMBWFMPDJEBEEFMWFI䜷DVMPQBSBEJSJHJS BMNPUPS MWPMBOUFTFWVFMWFN䜫TQFTBEPBNFa EJEBRVFBVNFOUBMBWFMPDJEBEEFMWFI䜷a DVMP Z TF WVFMWF N䜫T MJHFSP B NFEJEB RVFMBWFMPDJEBEEJTNJOVZFQBSBQFSNJa UJSVONFKPSDPOUSPMEFMWPMBOUF 4J OPUBTF BMH䝄O DBNCJP FO FM FTGVFS[P OFDFTBSJPQBSBDPOEVDJSEVSBOUFFMGVOa DJPOBNJFOUPOPSNBMEFMWFI䜷DVMP TPMJDJa UF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJa UBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP /05 -PT TJHVJFOUFT JOEJDJPT QVFEFO PDVa SSJS EVSBOUF FM GVODJPOBNJFOUP OPSa NBMEFMWFI䜷DVMP 䳜 /PTFJMVNJOBFMUFTUJHPEFBEWFSa UFODJBEFM14 䳜 4FSFRVJFSFNBZPSFTGVFS[PEFEJa SFDDJ䜽O JONFEJBUBNFOUF EFTQV䜳T EFDPOFDUBSFMCPU䜽OEFFODFOEJEP TUPPDVSSFEFCJEPBRVFFMTJTUFa NB MMFWB B DBCP FM EJBHO䜽TUJDP EFM TJTUFNB 14 $VBOEP TF IB DPNa QMFUBEP FM EJBHO䜽TUJDP FM WPMBOUF WVFMWFBTVFTUBEPOPSNBM 䳜 4FQVFEFFTDVDIBSVODMJDEFMSFM䜳 EFM 14 DVBOEP TF FODJFOEF P TF CMPRVFBFMJOUFSSVQUPSEFFODFOEJa EP 䳜 4F QVFEF FTDVDIBS VO SVJEP EFM NPUPSDVBOEPFMWFI䜷DVMPFTU䜫QBa SBEPPBVOBWFMPDJEBECBKB $POUJO䝄B $POUJO䝄B 䳜 4J FM TJTUFNB EF EJSFDDJ䜽O BTJTUJEB FM䜳DUSJDBOPGVODJPOBDPOOPSNBMJa EBE FM UFTUJHP EF BEWFSUFODJB TF JMVNJOBS䜫 FO FM UBCMFSP EF JOTUSVa NFOUPT1PES䜷BTFSEJG䜷DJMDPOUSPMBS FMWPMBOUFPQPES䜷BGVODJPOBSJODPa SSFDUBNFOUFOFTUFDBTP TPMJDJUF MBJOTQFDDJ䜽OEFMTJTUFNBFOVOUBa MMFSQSPGFTJPOBM,JBSFDPNJFOEBWJa TJUBSVODFOUSPEFTFSWJDJPEJTUSJa CVJEPS,JBBVUPSJ[BEP 䳜 M FTGVFS[P EF HJSP BVNFOUB TJ FM WPMBOUF TF HJSB DPOUJOVBNFOUF DVBOEPFMWFI䜷DVMPOPFTU䜫FONPa WJNJFOUP4JOFNCBSHP EFTQV䜳TEF VOPTNJOVUPT FMWPMBOUFWPMWFS䜫B TVDPOEJDJ䜽OOPSNBM 䳜 M BDDJPOBS FM WPMBOUF B UFNQFSBa UVSBCBKB QVFEFQSPEVDJSTFVOSVJa EPBOPSNBM4JMBUFNQFSBUVSBBVa NFOUB FM SVJEP EFTBQBSFDF TUB FTVOBTJUVBDJ䜽OOPSNBM $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 132. $POUJO䝄B 䳜 $VBOEP FMUFTUJHP EF BEWFSUFODJB EFMTJTUFNBEFDBSHBTFFODJFOEFP FMWPMUBKFEFMBCBUFS䜷BFTCBKP TJFM BMUFSOBEPS PMBCBUFS䜷B OPGVODJPa OB DPO OPSNBMJEBE P FTU䜫 BWFSJBa EP FM WPMBOUF QPES䜷B QSFTFOUBS N䜫TSFTJTUFODJBZQPES䜷BTFSEJG䜷DJM DPOUSPMBSMP P BDDJPOBSMP DPO OPSa NBMJEBE 7PMBOUFSFHVMBCMF TJFTU䜫 FRVJQBEP -B DPMVNOB EF MB EJSFDDJ䜽O JODMJOBCMF MF QFSNJUF BKVTUBS FM WPMBOUF EF EJSFDDJ䜽O BOUFTEFDPOEVDJS 1VFEFUBNCJ䜳OFMFWBSMPQBSBUFOFSN䜫T FTQBDJPQBSBMBTQJFSOBTBMFOUSBSZTBMJS EFMWFI䜷DVMP MWPMBOUFEFCFFTUBSDPMPDBEPQBSBRVF MF TFB DPOGPSUBCMF QBSB MB DPOEVDDJ䜽O NJFOUSBTMFQFSNJUFWFSMPTJOEJDBEPSFT ZMBTMVDFTEFBEWFSUFODJBEFMQBOFMEF JOTUSVNFOUPT %735/$* 䳜 /VODBBKVTUFFM䜫OHVMPEFMWPMBOUF NJFOUSBTFTU䜫DPOEVDJFOEP1VFEF QFSEFS FM DPOUSPM EF MB EJSFDDJ䜽O Z QVFEF QSPWPDBS HSBWFT MFTJPOFT QFSTPOBMFT MB NVFSUF P BDDJEFOa UFT 䳜 %FTQV䜳TEFBKVTUBS QSFTJPOFFMWPa MBOUF EF EJSFDDJ䜽O IBDJB BSSJCB Z IBDJB BCBKP QBSB BTFHVSBSTF EF RVFFTU䜫CMPRVFBEPFOMBQPTJDJ䜽O 1BSBDBNCJBSFM䜫OHVMPEFMWPMBOUF UJSF IBDJB BCBKP MB QBMBODB EF EFTCMPRVFP BKVTUFFMWPMBOUFBM䜫OHVMPRVFEFa TFF ZUJSFIBDJBBSSJCBEFMBQBMBODB EFEFTCMPRVFPQBSBCMPRVFBSFMWPMBOUF FOTVTJUJP TFH䝄SFTFEFDPMPDBSFM WPMBOUF EF EJSFDDJ䜽O FO MB QPTJDJ䜽O RVF EFTFFBOUFTEFDPOEVDJS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 133. 7 7PMBOUFDBMFGBDUBEP TJFTU䜫 FRVJQBEP $VBOEP FMJOUFSSVQUPS EF FODFOEJEP TF FODVFOUSBFOMBQPTJDJ䜽O0/ BMQVMTBSFM CPU䜽OEFMWPMBOUFDBMFGBDUBEPTFDBMFOa UBS䜫FMWPMBOUFMJOEJDBEPSEFMCPU䜽OTF JMVNJOBS䜫 1BSBBQBHBSFMWPMBOUF WVFMWBBQVMTBS FMCPU䜽OMJOEJDBEPSEFMCPU䜽OTFBQBa HBS䜫 4F BQBHBS䜫 BVUPN䜫UJDBNFOUF VOPT NJOVUPTEFTQV䜳TEFIBCFSBDUJWBEP MBDBMFGBDDJ䜽OEFMWPMBOUF 4JEFTBDUJWBFMFODFOEJEPBOUFTEFRVF USBOTDVSSBO NJOVUPT EFTQV䜳T EF QVMTBSFMCPU䜽OEFMBDBMFGBDDJ䜽OEFMWPa MBOUF MB QS䜽YJNB WF[ RVF TF BDUJWF FM FODFOEJEP MBDBMFGBDDJ䜽OFTUBS䜫BQBHBa EB 5/$*䜝/ 䳜 /P JOTUBMF OJOH䝄O BHBSSF QBSB BDa DJPOBS FM WPMBOUF MMP EB䜻BS䜷B FM TJTUFNBEFDBMFGBDDJ䜽OEFMWPMBOUF 䳜 M MJNQJBS FM WPMBOUF DBMFGBDUBEP OPVUJMJDFEJTPMWFOUFTPSH䜫OJDPTDPa NPEJTPMWFOUFEFQJOUVSB CFODFOP BMDPIPMZHBTPMJOB4JMPIJDJFTFQPa ES䜷BEB䜻BSMBTVQFSGJDJFEFMWPMBOUF 䳜 4JMBTVQFSGJDJFEFMWPMBOUFTFEB䜻B DPO VO PCKFUP BGJMBEP QPES䜷BO EBa 䜻BSTFMPTDPNQPOFOUFTEFMWPMBOUF DBMFGBDUBEP $MBYPO 1BSB IBDFS TPOBS FM DMBYPO QVMTF MPT T䜷NCPMPTEFMDMBYPOEFTVWPMBOUF$PNa QSVFCF IBCJUVBMNFOUF FM DMBYPO QBSB BTFHVSBSTF EF RVF GVODJPOB DPSSFDUBa NFOUF /05 1BSB IBDFS TPOBS FM DMBYPO QVMTF MB [POB JOEJDBEB DPO FM T䜷NCPMP FM DMBa YPO FO FM WPMBOUF W䜳BTF MB JMVTUSBa DJ䜽O MDMBYPOGVODJPOBS䜫T䜽MPDVBOa EPTFQSFTJPOFFTUB[POB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 134. 5/$*䜝/ /PHPMQFFOJE䜳HPMQFTDPOFMQV䜻PBM DMBYPO QBSB BDDJPOBSMB/P HPMQFF FM DMBYPODPOPCKFUPTQVOUJBHVEPT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 135. 3 35307*4034 3FUSPWJTPSJOUFSJPS KVTUFFMSFUSPWJTPSFOFMDFOUSPQBSBMB WJTUB B USBW䜳TEFM QBSBCSJTBT USBTFSP -MFWF B DBCP FTUPT BKVTUFT BOUFT EF FNQF[BSBDPOEVDJS %735/$* 7JTJCJMJEBEUSBTFSB /P DPMPRVF PCKFUPT FO MPT BTJFOUPT USBTFSPT P FO MB [POB EF DBSHB RVF QVEJFTFOJOUFSGFSJSDPOTVWJTJ䜽OQPS MBMVOBUSBTFSB %735/$* /P BKVTUF FM SFUSPWJTPS NJFOUSBT FM WFI䜷DVMPFTU䜫FONPWJNJFOUP1PES䜷B DBVTBSMBQ䜳SEJEBEFDPOUSPMZQSPWPa DBSVOBDDJEFOUFDPOSFTVMUBEPEFMFa TJ䜽O NVFSUFPEB䜻PTNBUFSJBMFT %735/$* /PNPEJGJRVFFMSFUSPWJTPSJOUFSJPSOJ NPOUF VO SFUSPWJTPS BODIP 1PES䜷B DBVTBSMFTJPOFTFODBTPEFBDDJEFOUF PMBBDUJWBDJ䜽OEFMBJSCBH 3FUSPWJTPSEFWJTJ䜽OEJVSOB OPDUVSOB 3FBMJDFFTUPTBKVTUFTBOUFTEFJOJDJBSMB DPOEVDDJ䜽ONJFOUSBTMBQBMBODBEFE䜷B OPDIFFTU䜫FOMBQPTJDJ䜽OEFE䜷B 5JSF EF MB QBMBODB EF E䜷BOPDIF IBDJB VTUFE QBSBSFEVDJSFMCSJMMPEFMPTGBa SPTEFMPTWFI䜷DVMPTEFEFUS䜫TNJFOUSBT DPOEVDFQPSMBOPDIF 3FDVFSEFRVFTFSFEVDFBMHPMBDMBSJEBE USBTFSBFOMBQPTJDJ䜽OEFOPDIF 䙓 E䜷B OPDIF 3FUSPWJTPSFYUFSJPS TFH䝄SFTFEFBKVTUBSMPT䜫OHVMPTEFMPT SFUSPWJTPSFTBOUFTEFDPOEVDJS 4V WFI䜷DVMP FTU䜫 FRVJQBEP DPO SFUSPWJa TPSFT FYUFSJPSFT EFSFDIP F J[RVJFSEP -PT SFUSPWJTPSFT QVFEFO BKVTUBSTF B EJTUBODJB DPO FM JOUFSSVQUPS EF DPOUSPM SFNPUP -PT SFUSPWJTPSFT QVFEFO QMFa HBSTF QBSB FWJUBS EB䜻PT EVSBOUF FM MBa WBEP BVUPN䜫UJDP EFM DPDIF P BM QBTBS QPSVOBDBMMFFTUSFDIB %735/$* 3FUSPWJTPSFT 䳜 M SFUSPWJTPS FYUFSJPS EFSFDIP FT DPOWFYP-PTPCKFUPTRVFTFPCTFSa WBO QPS FM SFUSPWJTPS FTU䜫O N䜫T DFSDBEFMPRVFQBSFDFO $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 136. $POUJO䝄B 䳜 6UJMJDF FMSFUSPWJTPS JOUFSJPS P MB WJTUB EJSFDUB QBSB EFUFSNJOBS MB EJTUBODJB SFBM EF MPT WFI䜷DVMPT BM DBNCJBSEFDBSSJMFT 5/$*䜝/ /PRVJUFSBTQBOEPFMIJFMPEFMBTVa QFSGJDJF EFM SFUSPWJTPS FTUP QVFEF EB䜻BS MB TVQFSGJDJF EFM DSJTUBM 4J FM IJFMPJNQJEFFMNPWJNJFOUPEFMSFUSPa WJTPS OPGVFSDFFMBKVTUFEFMSFUSPWJa TPS 1BSB SFUJSBS FM IJFMP VUJMJDF VO BFSPTPMEFEFTIJFMP VOBFTQPOKBPVO QB䜻PTVBWFIVNFEFDJEPDPOBHVBDBa MJFOUF 5/$*䜝/ 4J FM SFUSPWJTPS FTU䜫 PCTUSVJEP DPO IJFMP OPMPBKVTUFBMBGVFS[B6TFVO QVMWFSJ[BEPS EFTDPOHFMBOUF BQSPCBa EP OP EFTDPOHFMBOUF EFM SBEJBEPS QBSB MJCFSBS FM NFDBOJTNP IFMBEP P EFTQMBDFFMWFI䜷DVMPBVOB[POBD䜫MJa EBZEFKFRVFFMIJFMPTFGVOEB %735/$* /P BKVTUF OJ QMJFHVF MPT SFUSPWJTPSFT FYUFSJPSFTNJFOUSBTFMDPDIFFTU䜫FO NPWJNJFOUP1PES䜷BDBVTBSMBQ䜳SEJEB EF DPOUSPM Z QSPWPDBS VO BDDJEFOUF DPO SFTVMUBEP EF MFTJ䜽O NVFSUF P EB䜻PTNBUFSJBMFT $POUSPMSFNPUP 5JQPFM䜳DUSJDP MJOUFSSVQUPSEFDPOUSPMSFNPUPEFMSFa USPWJTPSFM䜳DUSJDPQFSNJUFBKVTUBSMBQPa TJDJ䜽O EFM SFUSPWJTPS EFSFDIP F J[RVJFSa EP1BSBBKVTUBSMBQPTJDJ䜽OEFDVBMRVJFa SBEFMPTSFUSPWJTPSFT FMJOUFSSVQUPSEF FODFOEJEPEFCFFTUBSFOMBQPTJDJ䜽O$$ BDDFTPSJPT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 137. 1BSBBKVTUBSMBQPTJDJ䜽OEFDBEBSFUSPWJa TPS QVMTFFM CPU䜽O B 3 EDI P - J[R QBSBTFMFDDJPOBSFMSFUSPWJTPSEFa SFDIPPJ[RVJFSEP EFTQV䜳TQVMTFFMQVOa UPDPSSFTQPOEJFOUF FOFMDPOUSPMEF BKVTUF EFM SFUSPWJTPS IBDJB MB QPTJDJ䜽O EFMSFUSPWJTPSTFMFDDJPOBEBIBDJBBSSJCB BCBKP EFSFDIBPJ[RVJFSEB 5SBTDPNQMFUBSFMBKVTUF QVMTFEFOVFa WPFMCPU䜽O-P3QBSBFWJUBSBKVTUFTJOa WPMVOUBSJPT 5/$*䜝/ 䳜 -PTSFUSPWJTPSFTEFKBOEFNPWFSTF DVBOEP BMDBO[BO MPT 䜫OHVMPT EF BKVTUF N䜫YJNPT QFSP FM NPUPS DPOUJO䝄B PQFSBOEP NJFOUSBT FM JOa UFSSVQUPSFTU䜫QVMTBEP/PQVMTFFM JOUFSSVQUPS N䜫T UJFNQP EFM OFDFa TBSJP ZB RVF FM NPUPS QPES䜷B EBa 䜻BSTF 䳜 /P JOUFOUF BKVTUBS MPT FTQFKPT SFa USPWJTPSFT FYUFSJPSFT NBOVBMNFOa UF%FMPDPOUSBSJP QPES䜷BEB䜻BSMBT QJF[BT 1MFHBEPEFMSFUSPWJTPSFYUFSJPS 5JQPFM䜳DUSJDP TJFTU䜫FRVJQBEP 1BSBQMFHBSFMSFUSPWJTPSFYUFSJPS QVMTF FMCPU䜽O 1BSBEFTQMFHBSMP WVFMWBBQVMTBSFMCPa U䜽O 5/$*䜝/ MSFUSPWJTPSFYUFSJPSEFUJQPFM䜳DUSJa DP GVODJPOB JODMVTP TJ FM JOUFSSVQUPS EF FODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS FTU䜫FOMBQPTJDJ䜽O0''4JOFNa CBSHP QBSB FWJUBS VOB EFTDBSHB JOa $POUJO䝄B $POUJO䝄B OFDFTBSJBEFMBCBUFS䜷B OPBKVTUFMPT SFUSPWJTPSFTN䜫TUJFNQPEFMOFDFTBa SJPTJFMNPUPSOPFTU䜫GVODJPOBOEP 5/$*䜝/ ODBTPEFRVFFMSFUSPWJTPSFYUFSJPS TFB FM䜳DUSJDP OP MP QMJFHVF DPO MB NBOP1VFEFQSPWPDBSVOBBWFS䜷BEFM NPUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 138.
- 139. 5 5#-30%*/4536./504 $VFOUBSSFWPMVDJPOFT 7FMPD䜷NFUSP *OEJDBEPSEFMBUFNQFSBUVSBEFMSFa GSJHFSBOUFEFMNPUPS *OEJDBEPSEFDPNCVTUJCMF -VDFTEFBEWFSUFODJBFJOEJDBEPSFT 1BOUBMMB-$% 䙓 MUBCMFSPEFJOTUSVNFOUPTSFBMEFM WFI䜷DVMPQPES䜷BEJGFSJSEFMBJNBHFO 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖*OEJDBEPSFT䳗 FO MB Q䜫HJOB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 140. $ $POUSPMEFMUBCMFSPEF JOTUSVNFOUPT KVTUFEFMBJMVNJOBDJ䜽OEFMUBCMFSP EFJOTUSVNFOUPT TJFTU䜫FRVJQBEP %735/$* /PBKVTUFOVODBFMUBCMFSPEFJOTUSVa NFOUPT NJFOUSBTDPOEVDF 1PES䜷B DBVTBSMBQ䜳SEJEBEFDPOUSPMZQSPWPa DBS VO BDDJEFOUF DPO SFTVMUBEP EF NVFSUF MFTJ䜽OHSBWFPEB䜻PTNBUFa SJBMFT -BJOUFOTJEBEEFMBJMVNJOBDJ䜽OEFMQBOFM EFJOTUSVNFOUPTQVFEFBKVTUBSTFHJSBOa EPFMNBOEPEFDPOUSPM P DPOFM JOUFSSVQUPSEFFODFOEJEPPFMCPU䜽O/a (*/ 45354501 JOJDJPQBSBEB EFM NPUPS FO0/ BDUJWBEP PDPOMPTQJMPa UPTUSBTFSPTFODFOEJEPT 4FWJTVBMJ[BMBJOUFOTJEBEEFJMVNJOBDJ䜽O EFM QBOFM EF JOTUSVNFOUPT UBCMFSP EF JOTUSVNFOUPTUJQP# $VBOEPMBJOUFOTJa EBEEFMV[BMDBODFFMOJWFMN䜫YJNPPN䜷a OJNPTPOBS䜫VOBTF䜻BMBD䝄TUJDB TJFTU䜫 FRVJQBEP $POUSPMEFMBWFOUBOB-$% -PT NPEPT EF MB WFOUBOB -$% TF QVFa EFO DBNCJBS VTBOEP MPT CPUPOFT EF BKVTUFFOFMWPMBOUF 5JQP 53*1 WJBKF FM CPU䜽O QFSNJUF QBSB DBNCJBSMPTNPEPT 345CPU䜽O345 SFJOJDJP QBSB SFJOJDJBSFMFMFNFOUPTFMFDDJPOBEP 5JQP# CPU䜽OEF.0%0QBSBDBNCJBSMPT .0%04-$% JOUFSSVQUPSEFEFTQMB[BNJFOa UP .07 QBSB TFMFDDJPOBS MBT GVOa DJPOFT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 141. 0,CPU䜽O45345QBSBFTUBCMFa DFSMPTFMFNFOUPTPSFTUBCMFDFSMPT 䙓 1BSBMPTNPEPT-$% DPOTVMUF䳖7FOa UBOBT-$%䳗FOMBQ䜫HJOB * *OEJDBEPSFT 7FMPD䜷NFUSP MWFMPD䜷NFUSPJOEJDBMBWFMPDJEBEEFMWFa I䜷DVMPZFTU䜫DBMJCSBEPBNJMMBTQPSIPSB NQIZPLJM䜽NFUSPTQPSIPSB LNI $VFOUBSSFWPMVDJPOFT MDVFOUBSSFWPMVDJPOFTJOEJDBFMO䝄NFSP BQSPYJNBEPEFMBTSFWPMVDJPOFTEFMNPa UPSQPSNJOVUP SQN 6UJMJDF FM DVFOUBSSFWPMVDJPOFT QBSB TFa MFDDJPOBS MPT QVOUPT EF DBNCJP DPSSFDa UPTZQBSBFWJUBSDBSHBSZPTPCSFSSFWPa MVDJPOBSFMNPUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 142. 5/$*䜝/ /PBDDJPOFFM NPUPSDPOFMUBD䜽NFa USP FOMB ;0/ 30+ TUP QPES䜷B QSPWPDBSHSBWFTEB䜻PTFOFMNPUPS *OEJDBEPSEFMBUFNQFSBUVSBEFM SFGSJHFSBOUFEFMNPUPS TUFJOEJDBEPSNVFTUSBMBUFNQFSBUVSB EFMSFGSJHFSBOUFEFMNPUPSDVBOEPFMJOa UFSSVQUPS EF FODFOEJEP P FM CPU䜽O /a (*/ 45354501 JOJDJPQBSBEB EFM NPUPS FTU䜫FO0/ 5/$*䜝/ 4JMBBHVKBEFMJOEJDBEPSTFNVFWFB N䜫T BMM䜫 EF MB [POB OPSNBM IBDJB MB QPTJDJ䜽OP) FTUPJOEJDBVOTPa CSFDBMFOUBNJFOUP RVF QPES䜷B EB䜻BS FMNPUPS /P TJHB DPOEVDJFOEP DPO FM NPUPS TPCSFDBMFOUBEP 4J TV WFI䜷DVMP FTU䜫 TPCSFDBMFOUBEP DPOTVMUFFMBQBSUBEP 䳖4J FM NPUPS TF TPCSFDBMJFOUB䳗 FO MB Q䜫HJOB %735/$* /P FYUSBJHB FM UBQ䜽O EFM SBEJBEPS DVBOEPFMNPUPSFTU䜳DBMJFOUFMSFa GSJHFSBOUFEFMNPUPSFTU䜫BQSFTJ䜽OZ QPES䜷B DBVTBSMF RVFNBEVSBT HSBWFT TQFSFIBTUBRVFFMNPUPSTFFOGS䜷F BOUFTEFB䜻BEJSFMSFGSJHFSBOUFFOFM EFQ䜽TJUP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 143. * *OEJDBEPSEFDPNCVTUJCMF TUFJOEJDBEPSNVFTUSBMBDBOUJEBESFTa UBOUFBQSPYJNBEBEFDPNCVTUJCMFFOFM EFQ䜽TJUPEFDPNCVTUJCMF /05 䳜 -BDBQBDJEBEEFMEFQ䜽TJUPEFDPNa CVTUJCMFTFJOEJDBFOFMDBQ䜷UVMP 䳜 MJOEJDBEPSEFDPNCVTUJCMFDVFOUB DPOVO UFTUJHP EF BEWFSUFODJB EF DPNCVTUJCMF CBKP RVF TF JMVNJOB DVBOEPFMEFQ䜽TJUPEFDPNCVTUJCMF FTU䜫DBTJWBD䜷P 䳜 O QFOEJFOUFT P DVSWBT MB BHVKB EFMJOEJDBEPSEFDPNCVTUJCMFQVFEF PTDJMBS P FM UFTUJHP EF BEWFSUFODJB EFDPNCVTUJCMFCBKPQVFEFFODFOa EFSTF BOUFT EF MP IBCJUVBM EFCJEP BM NPWJNJFOUP EFM DPNCVTUJCMF FO FMEFQ䜽TJUP %735/$* *OEJDBEPSEFDPNCVTUJCMF -BGBMUBEFDPNCVTUJCMFQVFEFFYQPa OFS B MPT PDVQBOUFT B VOB TJUVBDJ䜽O EFQFMJHSP %FCFQBSBSZSFQPTUBSMPBOUFTQPTJa CMF VOB WF[ TF IBZB FODFOEJEP FM UFTUJHP EF BEWFSUFODJB P DVBOEP FM $POUJO䝄B $POUJO䝄B JOEJDBEPS TF BDFSRVF BM OJWFM P WBD䜷P 5/$*䜝/ WJUF DPOEVDJS DPO VO OJWFM EF DPNa CVTUJCMFFYDFTJWBNFOUFCBKP-BGBMUB EF DPNCVTUJCMF QVFEF DBVTBS GBMMPT EFDPNCVTUJ䜽OEFMNPUPS EB䜻BOEPFM DPOWFSUJEPSDBUBM䜷UJDP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 144. $ $VFOUBLJM䜽NFUSPT M DVFOUBLJM䜽NFUSPT JOEJDBMB EJTUBODJB UPUBMRVFIBDJSDVMBEPFMWFI䜷DVMPZEFCF VTBSTF QBSB EFUFSNJOBS DV䜫OEP EFCF SFBMJ[BSTFFMNBOUFOJNJFOUPQFSJ䜽EJDP .BSHFO EFM DVFOUBLJM䜽NFUSPT _LNPNJMMBT *OEJDBEPSEFMBUFNQFSBUVSB FYUFSJPS TUFJOEJDBEPSNVFTUSBMBUFNQFSBUVSB FYUFSJPSBDUVBMFO䛺$ .BSHFOEFUFNQFSBUVSB 䛺$_䛺$ -B UFNQFSBUVSB FYUFSJPS FO MB QBOUBMMB QPES䜷BOPDBNCJBSJONFEJBUBNFOUFDPa NPFOVOUFSN䜽NFUSPOPSNBMQBSBFWJa UBSRVFFMDPOEVDUPSTFEFTQJTUF 1BSBDPOWFSUJSMBVOJEBEEFUFNQFSBUVa SB EF䛺$B䛺'PEF䛺'B䛺$ 䳜 1BOFMEFJOTUSVNFOUPT5JQP $BNCJFMPTNPEPTEFWJBKFBMNPEP%JTa UBODJBBWBD䜷PZ BDPOUJOVBDJ䜽O QVMTFZ NBOUFOHBQVMTBEPFMCPU䜽O345EVa SBOUFTFHVOEPTDPNPN䜷OJNP 䳜 1BOFMEFJOTUSVNFOUPT5JQP# -BVOJEBEEFUFNQFSBUVSBQVFEFDBNa CJBSTF VTBOEP FM NPEP 6TFS 4FUUJOHT BKVTUFT EFM VTVBSJP FO MBT WFOUBOBT -$% 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF䳖7FOUBOBT-$%䳗FOMBQ䜫HJa OB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 145. * *OEJDBEPSEFDBNCJPEFMUSBOTFKF *OEJDBEPSEFMDBNCJPEFMB USBOTNJTJ䜽ONBOVBM TJFTU䜫 FRVJQBEP TUF JOEJDBEPSMF JOGPSNB EF RV䜳 NBSa DIBFTMBBEFDVBEBEVSBOUFMBDPOEVDa DJ䜽OQBSBBIPSSBSDPNCVTUJCMF 䳜 VNFOUPEFNBSDIB 1PSFKFNQMP *OEJDBRVFTFS䜷BBEFDVBEPBVa NFOUBSBMB䛴NBSDIB FOFTUPT NPNFOUPT MBQBMBODBEFDBNa CJPTFTU䜫FO䛴P䛴 4JFMTJTUFNBOPGVODJPOBDPSSFDUBNFOa UF OPTFNVFTUSBFTUFJOEJDBEPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 146. 7 7/5/4-$% 4*45䜋26*1%0 7JTJ䜽OHFOFSBM -BT WFOUBOBT-$% NVFTUSBO EJGFSFOUF JOGPSNBDJ䜽OBMPTDPOEVDUPSFT *OGPSNBDJ䜽OEFWJBKF .PEPT-$% .FOTBKFTEFBEWFSUFODJB *OGPSNBDJ䜽OEFWJBKF PSEFOBEPS EFWJBKF MPSEFOBEPSEFWJBKFFTVOTJTUFNBEF JOGPSNBDJ䜽OQBSBFMDPOEVDUPSDPOUSPMBa EPQPSNJDSPPSEFOBEPSRVFNVFTUSBJOa GPSNBDJ䜽O SFMBDJPOBEB DPO MB DPOEVDa DJ䜽O /05 MHVOPTEBUPTBSDIJWBEPTFOFMPSEFa OBEPS EF WJBKF Q FK MB WFMPDJEBE NFEJBEFMWFI䜷DVMP TFBKVTUBOBDFSP TJTFEFTDPOFDUBMBCBUFS䜷B .PEPTEFWJBKF 1BSB DBNCJBS FM NPEP EF WJBKF NVFWB FM JOUFSSVQUPS .07 EFTQMB[BNJFOUP PFMCPU䜽O53*1 WJBKF FOFMNPa EPEFMPSEFOBEPSEFWJBKF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 147. 7 7JBKF# $VFOUBLJM䜽NFUSPTQBSDJBM 䳜 M DVFOUBLJM䜽NFUSPTQBSDJBM NVFTUSB MB EJTUBODJB UPUBM SFDPSSJEB EFTEF MB 䝄MUJNB WF[ RVF EJDIP DVFOUBLJM䜽NFa USPTQBSDJBMTFQVTPBDFSP .BSHFO EF EJTUBODJB _ LN 䳜 1BSB SFJOJDJBS FM DVFOUBLJM䜽NFUSPT QBSDJBM QVMTFFMCPU䜽O345 SFJOJDJP PFMCPU䜽O0, BDFQUBS FOFMWPMBOUF EVSBOUFN䜫TEFTFHVOEPDVBOEPTF NVFTUSFFMDVFOUBLJM䜽NFUSPTQBSDJBM 5JFNQPUSBOTDVSSJEP 䳜 M UJFNQP USBOTDVSSJEP FT FM UJFNQP UPUBM EF DPOEVDDJ䜽O EFTEF MB 䝄MUJNB WF[RVFFMUJFNQPUSBOTDVSSJEPTFQVa TPBDFSP *OUFSWBMP EF UJFNQP IINN _ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 148. 䳜 1BSB SFJOJDJBSFM UJFNQP USBOTDVSSJEP QVMTF FM CPU䜽O 345 SFJOJDJP P FM CPU䜽O 0, FO FM WPMBOUF EVSBOUF N䜫T EF TFHVOEP DVBOEP TF NVFTUSF FM UJFNQPUSBOTDVSSJEP / /05 VORVFFMWFI䜷DVMPOPTFEFTQMBDF FM UJFNQP USBOTDVSSJEP TF TJHVF JOEJa DBOEP NJFOUSBT FM NPUPS FTU䜳 FO NBSDIB 7FMPDJEBENFEJBEFMWFI䜷DVMP 䳜 -B WFMPDJEBE NFEJB EFM WFI䜷DVMP TF DBMDVMBFOCBTFBMBEJTUBODJBUPUBMSFa DPSSJEB Z FM UJFNQP EF DPOEVDDJ䜽O EFTEFMB䝄MUJNBWF[RVFTFSFJOJDJ䜽MB WFMPDJEBENFEJBEFMWFI䜷DVMP .BSHFOEFWFMPDJEBE_LNI PNQI 䳜 1BSB SFJOJDJBS MB WFMPDJEBE NFEJB EFM WFI䜷DVMP QVMTFFMCPU䜽O345 SFJOJa DJP PFMCPU䜽O0, BDFQUBS FOFMWPa MBOUF EF EJSFDDJ䜽O EVSBOUF N䜫T EF TFHVOEPDVBOEPTFNVFTUSFMBWFMPa DJEBENFEJBEFMWFI䜷DVMP /05 䳜 -BWFMPDJEBENFEJBEFMWFI䜷DVMPOP TFNVFTUSBTJMBEJTUBODJBSFDPSSJEB FTJOGFSJPSBNFUSPTPFMUJFNa QP EF DPOEVDDJ䜽O FT JOGFSJPS B TFHVOEPT EFTEF MB BDUJWBDJ䜽O EFMJOUFSSVQUPSEFFODFOEJEP 䳜 VORVFFMWFI䜷DVMPOPTFEFTQMBDF MB WFMPDJEBE NFEJB EFM WFI䜷DVMP TF TJHVFJOEJDBOEPNJFOUSBTFMNPUPS FTU䜳FONBSDIB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 149. $ $POTVNPEFDPNCVTUJCMF %JTUBODJBBWBD䜷P 䳜 -BEJTUBODJBBWBD䜷PFTMBEJTUBODJBFTa UJNBEBRVFQVFEFDPOEVDJSTFFMWFI䜷a DVMPDPOFMDPNCVTUJCMFSFTUBOUF .BSHFOEFEJTUBODJB_LN P_NJ 䳜4J MB EJTUBODJB FTUJNBEB FT JOGFSJPS B LN FM PSEFOBEPS EF WJBKF JOEJDBS䜫 DPNPEJTUBODJBBWBD䜷P /05 䳜 4J FM WFI䜷DVMP OP FTU䜫 FO VO TVFMP OJWFMBEP P TF IB JOUFSSVNQJEP MB QPUFODJB EF MB CBUFS䜷B MB GVODJ䜽O EF %JTUBODJB B WBD䜷P QPES䜷B OP GVODJPOBSDPSSFDUBNFOUF 䳜 -B EJTUBODJB B WBD䜷P QPES䜷B WBSJBS EF MB EJTUBODJB SFBM EF DPOEVDDJ䜽O BMTFSVOWBMPSFTUJNBEPEFMBEJTa UBODJBEFDPOEVDDJ䜽OEJTQPOJCMF 䳜 MPSEFOBEPSEFWJBKFQPES䜷BOPSFa HJTUSBSFMDPNCVTUJCMFBEJDJPOBMSFa QPTUBEPTJFTJOGFSJPSBMJUSPT 䳜 -PT WBMPSFT EF DPOTVNP EF DPNa CVTUJCMFZMBEJTUBODJBBWBD䜷PQVFa EFO WBSJBS TVTUBODJBMNFOUF TFH䝄O MBT DPOEJDJPOFT EF DPOEVDDJ䜽O MPT I䜫CJUPT EF DPOEVDDJ䜽O Z MB DPOEJa DJ䜽OEFMWFI䜷DVMP $POTVNPNFEJPEFDPNCVTUJCMF 䳜 MDPOTVNPNFEJPEFDPNCVTUJCMFTF DBMDVMB TFH䝄O MB EJTUBODJB UPUBM SFDPa SSJEBZFMDPNCVTUJCMFDPOTVNJEPEFTa EFMB䝄MUJNBWF[RVFFMDPOTVNPNFa EJPEFDPNCVTUJCMFTFQVTPBDFSP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 150. .BSHFOEFMDPOTVNPEFDPNCVTUJa CMF _ LN- -LNP.1( 䳜M DPOTVNP NFEJP EF DPNCVTUJCMF QVFEFSFBKVTUBSTFNBOVBMPBVUPN䜫a UJDBNFOUF 3 3FJOJDJPNBOVBM 1BSB SFJOJDJBS FM DPOTVNP NFEJP EF DPNCVTUJCMFNBOVBMNFOUF QVMTFFMCPa U䜽O 345 SFJOJDJP P FM CPU䜽O 0, BDFQUBS FOFMWPMBOUFEVSBOUFN䜫TEF TFHVOEPDVBOEPTFNVFTUSFFMDPOTVa NPNFEJPEFDPNCVTUJCMF 3FBKVTUFBVUPN䜫UJDP FOMPT UBCMFSPTEFJOTUSVNFOUPTUJQP# 1BSB SFJOJDJBS FM DPOTVNP NFEJP EF DPNCVTUJCMFBVUPN䜫UJDBNFOUFBDFSPBM SFQPTUBS TFMFDDJPOFFMNPEP'VFMFDPa OPNZ BVUP SFTFU SFJOJDJP BVUP EFM DPOTVNP EF DPNCVTUJCMF FO FM NFO䝄 6TFS4FUUJOHT BKVTUFTEFMVTVBSJP EF MBT WFOUBOBT -$% DPOTVMUF 䳖7FOUBOBT -$%䳗FOMBQ䜫HJOB 䳜 0''QVFEFDPOGJHVSBSMPNBOVBMNFOa UF BM BKVTUF QPS EFGFDUP VUJMJ[BOEP FM CPU䜽O EF SFJOJDJP EFM JOUFSSVQUPS EF WJBKF 䳜 %VSBOUF MB DPOEVDDJ䜽O FM WFI䜷DVMP TF DPOGJHVSBS䜫BVUPN䜫UJDBNFOUFBMBKVTa UF QSFEFUFSNJOBEP VOB WF[ IBZBO USBOTDVSSJEPIPSBTEFTQV䜳TEFDPMPa DBSFMFODFOEJEPFO0'' 䳜 M SFQPTUBS %FTQV䜳T EF SFQPTUBS N䜫T EF MJUSPT Z SFDPSSFS N䜫T EF LNI FMWFI䜷DVMPTFSFJOJDJBS䜫BVUPa N䜫UJDBNFOUFBMBKVTUFQSFEFUFSNJOBa EP /05 MDPOTVNPNFEJPEFDPNCVTUJCMFOP TF BDUVBMJ[B TJ FM WFI䜷DVMP OP DJSDVMB EVSBOUF N䜫T EF TFHVOEPT P NFUSPTEFTEFRVFTFDPMPDBFMJOa UFSSVQUPS EF FODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFMNPUPS FO0/ $POTVNP JOTUBOU䜫OFP EF DPNCVTUJCMF 䳜 O FTUF NPEP TF WJTVBMJ[B FM DPOTVa NP JOTUBOU䜫OFP EF DPNCVTUJCMF EVa SBOUFMPT䝄MUJNPTTFHVOEPTDVBOEPFM WFI䜷DVMPDJSDVMBBN䜫TEFLNI 䳜 O MPT UBCMFSPT EF JOTUSVNFOUPT UJQP _ LN- -LN .1( $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 151. 䳜 O MPTUBCMFSPT EF JOTUSVNFOUPT UJQP #_LN- -LN _.1( . .PEPT-$% QBSBUBCMFSPEF JOTUSVNFOUPTUJQP# .PEPEFMPSEFOBEPSEFWJBKF OFTUFNPEP TFWJTVBMJ[BJOGPSNBa DJ䜽O TPCSF MB DPOEVDDJ䜽O DVFOUBLJa M䜽NFUSPTQBSDJBM DPOTVNPEFDPNa CVTUJCMF FUD 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF䳖0SEFOBEPSEFWJBKF䳗FOMB Q䜫HJOB .PEPEFNBOUFOJNJFOUP OFTUFNPEP TFJOGPSNBTPCSFFM JOUFSWBMP EF NBOUFOJNJFOUP LJMPa NFUSBKF P E䜷BT Z EF MB QSFTJ䜽O EF DBEBOFVN䜫UJDP .PEPEFBKVTUFEFMVTVBSJP O FTUF NPEP QVFEF DBNCJBS MPT BKVTUFT EF MBT QVFSUBT MBT MVDFT FUD .PEPEFBEWFSUFODJBNBFTUSP TUFNPEPJOGPSNBEFMPTNFOTBKFT EF BEWFSUFODJB SFMBDJPOBEPT DPO VOB BWFS䜷B EFM 51.4 QSFTJ䜽O CBKB TJ FTU䜫 FRVJQBEP P BDFJUF EF NPa UPS CBKP TJ FTU䜫 FRVJQBEP P VOB BWFS䜷B EFM TJTUFNB EF GSFOBEB EF FNFSHFODJB BVU䜽OPNB TJ FTU䜫 FRVJQBEP 䙓 1BSBDPOUSPMBSMPTNPEPT-$% DPOa TVMUF䳖$POUSPMEFMBWFOUBOB-$%䳗FO MBQ䜫HJOB .PEPEFNBOUFOJNJFOUP .BOUFOJNJFOUPFO $BMDVMBFJOEJDBDV䜫OEPEFCFSFBMJ[BSTF FM NBOUFOJNJFOUP QSFWJTUP LJMPNFUSBKF PE䜷BT 4J FM LJMPNFUSBKF P FM UJFNQP SFTUBOUF BMDBO[BMPTLNPE䜷BT BQBSFDFa S䜫 FM NFOTBKF 4FSWJDF JO NBOUFOJa NJFOUPFO EVSBOUFVOPTTFHVOEPTDBa EBWF[RVFDPMPRVFFMJOUFSSVQUPSEFFOa DFOEJEPPFMCPU䜽O/(*/45354501 JOJDJPQBSBEBEFMNPUPS FOMBQPTJDJ䜽O 0/ /05 4J PDVSSF BMHVOB EF MBT DPOEJDJPOFT TJHVJFOUFT FM LJMPNFUSBKF Z MPT E䜷BT QPES䜷BOTFSJODPSSFDUPT M DBCMF EF MB CBUFS䜷B FTU䜫 EFTDPa OFDUBEP MJOUFSSVQUPSEFMGVTJCMFFTU䜫BQBa HBEP -BCBUFS䜷BFTU䜫EFTDBSHBEB .PEPEFBKVTUFTEFMVTVBSJP FO MPTUBCMFSPTEFJOTUSVNFOUPT UJQP# OFTUFNPEP QVFEFDBNCJBSMPTBKVTa UFTEFMBTQVFSUBT MBTMVDFT FUD $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 152. %735/$* %VSBOUF MB DPOEVDDJ䜽O OP BKVTUF MB GVODJ䜽O 6TFS 4FUUJOH BKVTUFT EF VTVBSJP 1PES䜷BQFSEFSFMDPOUSPMEFM WPMBOUFZQSPWPDBSVOBDDJEFOUFPMFa TJPOFTHSBWFT '$8 BEWFSUFODJB EF DPMJTJ䜽O GSPOUBM TJFTU䜫FRVJQBEP 䳜 # GSFOBEBEFBEWFSUFODJBBVU䜽OPa NB TJ FTU䜫 FRVJQBEP TJ TF NBSDB FTUBPQDJ䜽O MBGVODJ䜽O#TFBDUJWBa S䜫 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖'SFOBEB EF FNFSHFODJB BVU䜽OPNB EF UJQP SBEBS # 䳗 FO MBQ䜫HJOB 1VFSUB 䳜 # #MPRVFPBVUPN䜫UJDP %FTBDUJWBS EFTBDUJWBS䜫 MB PQFSBDJ䜽O EFCMPRVFPBVUPN䜫UJDPEFMBTQVFSUBT EFMWFI䜷DVMP DUJWBS TFH䝄O WFMPDJEBE UPEBT MBT QVFSUBT TF CMPRVFBS䜫O BVUPN䜫UJDBa NFOUFDVBOEPMBWFMPDJEBEEFMWFI䜷DVa MPTPCSFQBTFMPTLNI 䳜 % %FTCMPRVFPBVUPN䜫UJDP %FTBDUJWBSDBODFMBS䜫MBPQFSBDJ䜽OEF EFTCMPRVFP BVUPN䜫UJDP EF MBT QVFSa UBT 7FI䜷DVMP BQBHBEP UPEBT MBT QVFSUBT TF EFTCMPRVFBS䜫O BVUPN䜫UJDBNFOUF BMSFUJSBSMBMMBWFEFFODFOEJEPEFMJOa UFSSVQUPSEFFODFOEJEPPBMDPMPDBSFM CPU䜽O /(*/ 45354501 JOJDJP QBSBEBEFMNPUPS FOMBQPTJDJ䜽O0'' -VDFT 䳜 4 4F䜻BMEFDBNCJPEFDBSSJMEFVOUPRVF 0GG TF EFTBDUJWBS䜫 MB GVODJ䜽O EF MB TF䜻BMEFDBNCJPEFDBSSJMEFVOUPRVF QBSQBEFPT -PT JOUFSNJUFOUFT EFDBNCJPEFDBSSJMQBSQBEFBO P WFDFTBMQVMTBSMFWFNFOUFMBQBMBOa DBEFMJOUFSNJUFOUF 䙓 1BSB N䜫T JOGPSNBDJ䜽O DPOTVMUF FM BQBSUBEP 䳖-VDFT䳗 FO MB Q䜫HJOB 䳜 % %FNPSBEFMPTGBSPT 4JTFTFMFDDJPOBFTUBPQDJ䜽O TFBDUJWB MBGVODJ䜽OEFEFNPSBEFMPTGBSPT *OUFSWBMPEFNBOUFOJNJFOUP TJFTU䜫 FRVJQBEP OFTUFNPEP QVFEFBDUJWBSMBGVODJ䜽O EFM JOUFSWBMP EF TFSWJDJP TFH䝄O LJMPNFa USBKF LNPNJMMBT ZQMB[P NFTFT 䳜 0 0GG TF EFTBDUJWBS䜫 MB GVODJ䜽O EFM JOa UFSWBMPEFNBOUFOJNJFOUP 䳜 0 0O QFSNJUF BKVTUBS FM JOUFSWBMP EF NBOUFOJNJFOUP LJMPNFUSBKF Z NFa TFT 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF䳖.PEPEFNBOUFOJNJFOUP䳗 FOMBQ䜫HJOB /05 4J OP FT QPTJCMF BKVTUBS FM JOUFSWBMP EF NBOUFOJNJFOUP EF TV WFI䜷DVMP TPMJDJUF FM NBOUFOJNJFOUP EFM TJTUFa NBFOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 0USBTGVODJPOFT 䳜 3 3FBKVTUFBVUPN䜫UJDPEFMDPOTVNPEF DPNCVTUJCMF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 153. 0GG FM DPOTVNPNFEJP EF DPNCVTUJa CMFOPTFSFBKVTUBS䜫BVUPN䜫UJDBNFOa UFBMSFQPTUBS %FTQV䜳T EFM FODFOEJEP FM DPOTVNP NFEJP EF DPNCVTUJCMF TF SFJOJDJBS䜫 BVUPN䜫UJDBNFOUF DVBOEP IBZBO USBOTDVSSJEPIPSBTEFTQV䜳TEFBQBa HBSFMNPUPS %FTQV䜳TEFSFQPTUBSFMDPOTVNPNFa EJPEFDPNCVTUJCMFTFSFJOJDJBS䜫BVUPa N䜫UJDBNFOUFBMSFQPTUBS 䳜 6 6OJEBEEFDPOTVNPEFDPNCVTUJCMF 1BSB TFMFDDJPOBS MB VOJEBE EF DPOTVa NP EF DPNCVTUJCMF LN- ® - LN HBM䜽OCSJU䜫OJDP®HBM䜽OFTUBEPVa OJEFOTF 䳜 6 6OJEBEEFUFNQFSBUVSB 1BSBTFMFDDJPOBSMBVOJEBEEFUFNQFa SBUVSB 䛺$ 䛺' *EJPNB 4FMFDDJPOBSFMJEJPNB 3FJOJDJP 1VFEF SFJOJDJBS MPT NFO䝄T FO FM NPEP EFBKVTUFTEFVTVBSJP5PEPTMPTNFO䝄T FOFMNPEPEFBKVTUFTEFVTVBSJPTFSFJa OJDJBO FYDFQUP FM JEJPNB Z FM JOUFSWBMP EFTFSWJDJP .FOTBKFTEFBEWFSUFODJB -PT NFOTBKFT EF BEWFSUFODJB BQBSFDFO FOMBWFOUBOB-$%QBSBBEWFSUJSBMDPOa EVDUPSTU䜫VCJDBEBFOFMDFOUSPEFMUBa CMFSPEFJOTUSVNFOUPT M NFOTBKF EF BEWFSUFODJB QPES䜷B BQBa SFDFSEFWBSJBTNBOFSBTFOGVODJ䜽OEFM UJQPEFUBCMFSPEFJOTUSVNFOUPTZFOBMa HVOPT FT QPTJCMF RVF OP TF NVFTUSF OJOH䝄ONFOTBKFEFBEWFSUFODJB M NFOTBKF EF BEWFSUFODJB TF NVFTUSB FOGPSNBEFT䜷NCPMP T䜷NCPMPZUFYUPP UJQPEFUFYUP䝄OJDBNFOUF 1VFSUB DBQ䜽 QPSU䜽O USBTFSP BCJFSUPT TJFTU䜫FRVJQBEP 䳜 TUBBEWFSUFODJBTFNVFTUSBQBSBJOa EJDBS RVF MB QVFSUB P FM DBQ䜽 P FM QPSU䜽OUSBTFSPFTU䜫OBCJFSUPT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 154. 5 5FDIP TPMBS BCJFSUPTJ FTU䜫 FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ BQBHB FM NPUPS FTUBOEP FM UFDIP TPMBSBCJFSUP $BNCJBS B 1 FTUBDJPOBNJFOUP FO MPTTJTUFNBTDPOMMBWFJOUFMJHFOUFZ USBOTFKF BVUPN䜫UJDP TJ FTU䜫 FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJJOUFOUBBQBHBSFMNPUPSTJONPWFS MBQBMBODBEFDBNCJPTBMBQPTJDJ䜽O1 FTUBDJPOBNJFOUP 䳜 O FTF NPNFOUP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS QBTB B MB QPTJDJ䜽O $$ TJ QVMTB EF OVFWP FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEBEFMNPUPS QBTBa S䜫BMBQPTJDJ䜽O0/ 1JMBCBKBEFMBMMBWF FOMPTTJTUFNBT DPO MMBWF JOUFMJHFOUF TJ FTU䜫 FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ MB QJMB EF MB MMBWF JOUFMJHFOUF FTU䜫 EFTDBSHBEB DVBOEP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS QBTB B MB QPTJDJ䜽O 0'' EFTBDUJa WBEP 1VMTF FM CPU䜽O 4535 BSSBORVF NJFOUSBT HJSB FM WPMBOUF FO MPT TJTUFNBT DPO MMBWF JOUFMJHFOUF TJ FTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ FM WPMBOUF OP TF EFTCMPRVFB DPO OPSNBMJEBEBMQVMTBSFMCPU䜽O/(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS 䳜 4JHOJGJDBRVFEFCFQVMTBSFMCPU䜽O/a (*/ 45354501 JOJDJPQBSBEB EFM NPUPS NJFOUSBTHJSBFMWPMBOUFBEFa SFDIBFJ[RVJFSEB 7PMBOUF TJO CMPRVFBS FO MPT TJTUFNBT DPO MMBWF JOUFMJHFOUF TJ FTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJFMWPMBOUFOPTFCMPRVFBDVBOEPFM CPU䜽O /(*/ 45354501 JOJDJP QBSBEB EFM NPUPS QBTB B MB QPTJDJ䜽O 0'' $PNQSPCBS FM TJTUFNB EF CMPRVFP EFM WPMBOUF FO MPT TJTUFNBT DPO MMBWFJOUFMJHFOUF TJFTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ FM WPMBOUF OP TF CMPRVFB DPO OPSa NBMJEBE DVBOEP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS QBTBBMBQPTJDJ䜽O0'' 1JTF FM QFEBM EFM GSFOP QBSB BSSBODBSFMNPUPS FOMPTTJTUFNBT DPO MMBWF JOUFMJHFOUF Z USBOTFKF BVUPN䜫UJDP TJFTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJFMCPU䜽O/(*/45354501 JOJa DJPQBSBEBEFMNPUPS DBNCJBEPTWFa DFTBMBQPTJDJ䜽O$$QVMTBOEPFMCPa U䜽O SFQFUJEBNFOUF TJO QJTBS FM QFEBM EFMGSFOP 䳜 4JHOJGJDB RVF EFCF QJTBS FM QFEBM EFM GSFOPQBSBBSSBODBSFMNPUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 155. 1 1JTBS FM QFEBMEFM FNCSBHVF QBSB BSSBODBSFMNPUPS FOMPTTJTUFNBT DPO MMBWF JOUFMJHFOUF Z USBOTFKF NBOVBM TJFTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJFMCPU䜽O/(*/45354501 JOJa DJPQBSBEBEFMNPUPS QBTBEPTWFDFT B MB QPTJDJ䜽O $$ QVMTBOEP FM CPU䜽O SFQFUJEBNFOUF TJO QJTBS FM QFEBM EFM FNCSBHVF 䳜 4JHOJGJDB RVF EFCF QJTBS FM QFEBM EFM FNCSBHVFQBSBBSSBODBSFMNPUPS -B MMBWF OP FTU䜫 FO FM WFI䜷DVMP FO MPT TJTUFNBT DPO MMBWF JOUFMJHFOUF TJFTU䜫FRVJQBEP 䳜 TUF NFOTBKF EF BEWFSUFODJB TF FOa DJFOEFFOFMUBCMFSPEFJOTUSVNFOUPT TJ BCSF P DJFSSB MB QVFSUB DVBOEP FM CPU䜽O /(*/ 45354501 JOJDJP QBSBEBEFMNPUPS FTU䜫FOMBQPTJDJ䜽O $$V0/ZMBMMBWFJOUFMJHFOUFOPTF FODVFOUSBFOFMWFI䜷DVMPOQBSUJDVa MBS DVBOEP DJFSSF MB QVFSUB TPOBS䜫 UBNCJ䜳O VOB BMBSNB EF BEWFSUFODJB EVSBOUF BQSPYJNBEBNFOUF TFHVOEPT 䳜 4JHOJGJDB RVF EFCF MMFWBS TJFNQSF MB MMBWFJOUFMJHFOUFDPOTJHP /P TF EFUFDUB MB MMBWF FO MPT TJTUFNBT DPO MMBWF JOUFMJHFOUF TJ FTU䜫FRVJQBEP 䳜 TUF NFOTBKF EF BEWFSUFODJB TF FOa DJFOEFEVSBOUFTFHVOEPTFOFMUBa CMFSPEFJOTUSVNFOUPTTJOPMMFWBDPOa TJHPMBMMBWFJOUFMJHFOUFPOPTFEFUFDa UBBMQVMTBSFMCPU䜽O/(*/4535 4501 JOJDJPQBSBEB EFM NPUPS O FTUFDBTP FMJOEJDBEPSEFMJONPWJMJ[Ba EPSQBSQBEFBS䜫EVSBOUFTFHVOEPT 1VMTF EF OVFWP FM CPU䜽O 4535 BSSBORVF DPO MB MMBWF FO MPT TJTUFNBT DPO MMBWF JOUFMJHFOUF TJ FTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJOPQVFEFBDDJPOBSFMCPU䜽O/(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS EFCJEPBVOQSPCMFNBDPOFMTJTa UFNBEFMNJTNP 䳜 4JHOJGJDBRVFQVFEFQPOFSFONBSDIB FMNPUPSQVMTBOEPEFOVFWPFMCPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFMNPUPS 䳜 4JMBBEWFSUFODJBTFJMVNJOBDBEBWF[ RVF QVMTB FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEB EFM NPUPS MMFWF FMWFI䜷DVMPBVOUBMMFSQSPGFTJPOBMQBSB RVF MP JOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJa CVJEPS,JBBVUPSJ[BEP 1VMTF FM CPU䜽O 4535 BSSBORVF DPO MB MMBWF FO MPT TJTUFNBT DPO MMBWFJOUFMJHFOUF TJFTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ TF QVMTB FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEBEFMNPUPS DVBOa EP BQBSFDF FM NFOTBKF ,FZ OPU EFa UFDUFE OPTFEFUFDUBMBMMBWF 䳜 OFTUFNPNFOUP FMJOEJDBEPSEFMJOa NPWJMJ[BEPSQBSQBEFB $PNQSPCBS FM GVTJCMF #3, 48*5$) JOUFSSVQUPS EFM GSFOP FO MPTTJTUFNBTDPOMMBWFJOUFMJHFOUFZ USBOTFKF BVUPN䜫UJDP TJ FTU䜫 FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ FM GVTJCMF EFM JOUFSSVQUPS EFM GSFOP FTU䜫GVOEJEP 䳜 4JHOJGJDB RVF EFCF DBNCJBS FM GVTJCMF QPSVOPOVFWP4JOPFTQPTJCMF QVFEF BSSBODBS FM NPUPS QVMTBOEP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFMNPUPS EVSBOUFTFHVOEPTFOMB QPTJDJ䜽O$$ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 156. $ $BNCJBSB1 FTUBDJPOBNJFOUP P/ QVOUPNVFSUP QBSB BSSBODBS FM NPUPS QBSB TJTUFNB DPO MMBWF JOUFMJHFOUF Z USBOTFKF BVUPN䜫UJDP TJFTU䜫FRVJQBEP 䳜 TUFNFOTBKFEFBEWFSUFODJBBQBSFDF TJ JOUFOUB BSSBODBS FM NPUPS TJO NPa WFS MB QBMBODB EF DBNCJPT B MB QPTJa DJ䜽O 1 FTUBDJPOBNJFOUP P / QVOUP NVFSUP /05 1VFEF BSSBODBS FM NPUPS DPO MB QBa MBODB EF DBNCJPT FO MB QPTJDJ䜽O / QVOUP NVFSUP 4JO FNCBSHP QBSB TV TFHVSJEBE SFDPNFOEBNPT RVF BSSBORVFFMNPUPSDPOMBQBMBODBEF DBNCJPTFOMBQPTJDJ䜽O1 FTUBDJPOBa NJFOUP 5FTUJHPEFBEWFSUFODJBEFDBM[BEB IFMBEB TJFTU䜫FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB BWJTB BM DPOEVDUPSEFRVFMBDBM[BEBQPES䜷BFTa UBSIFMBEB $VBOEPTFEBOMBTDPOEJDJPOFTTJHVJFOa UFT FMUFTUJHPEFBEWFSUFODJB JODMVZFOa EP FM JOEJDBEPS EF UFNQFSBUVSB FYUFa SJPS QBSQBEFB WFDFT Z B DPOUJOVBa DJ䜽O TFFODJFOEFZUBNCJ䜳OTVFOBVOB WF[VOBTF䜻BMBD䝄TUJDB -B UFNQFSBUVSB FO FM JOEJDBEPS EF UFNQFSBUVSB FYUFSJPS FT JOGFSJPS B VOPT䛺$ /05 4JFMUFTUJHPEFBEWFSUFODJBEFDBM[Ba EB IFMBEB TF FODJFOEF EVSBOUF MB DPOEVDDJ䜽O QSFTUF NBZPS BUFODJ䜽O EVSBOUFMBDPOEVDDJ䜽OZFWJUFFMFYa DFTPEFWFMPDJEBE MBBDFMFSBDJ䜽OS䜫a QJEB MBTGSFOBEBTCSVTDBTPMBTDVSa WBTDFSSBEBT FUD QBSBNBZPSTFHVa SJEBE $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 157. 5 545*(04*/%*$%034:%%735/$* 5FTUJHPTEFBEWFSUFODJB /05 5FTUJHPTEFBEWFSUFODJB %FTQV䜳TEFQPOFSFMNPUPSFONBSa DIB WFSJGJRVFRVFUPEPTMPTUFTUJHPT EFBEWFSUFODJB FTU䜳O BQBHBEPT 4J BMHVOP QFSNBOFDF FODFOEJEP FTUP JOEJDB RVF FTB TJUVBDJ䜽O SFRVJFSF TV BUFODJ䜽O 5FTUJHPEFBEWFSUFODJB EFMBJSCBH TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUF TFHVOEPT Z B DPOUJOVBa DJ䜽O TFBQBHB 䳜 4JFYJTUFVOQSPCMFNBDPOFM434 OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP 5FTUJHPEFBEWFSUFODJB EFMDJOUVS䜽OEFTFHVSJEBE TUF UFTUJHP EF BEWFSUFODJB JOGPSNBBMDPOEVDUPSEFRVF FMDJOUVS䜽OEFTFHVSJEBEOPFTU䜫BCSPa DIBEP 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖$JOUVSPOFT EF TFHVSJEBE䳗 FOMBQ䜫HJOB 5FTUJHPEFBEWFSUFODJB EFMGSFOPEF FTUBDJPOBNJFOUPZEFM M䜷RVJEPEFGSFOPT TUF UFTUJHP EF BEWFSUFODJB TF FODJFOa EF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUFTFHVOEPT 1FSNBOFDFFODFOEJEPTJTFBDDJPOB FMGSFOPEFFTUBDJPOBNJFOUP 䳜 $VBOEP TF BDDJPOB FM GSFOP EF FTUBa DJPOBNJFOUP 䳜 $VBOEP FM OJWFM EFM M䜷RVJEP EF GSFOPT FOFMEFQ䜽TJUPFTCBKP 4JFMUFTUJHPEFBEWFSUFODJBTFFOa DJFOEF DPO FM GSFOP EF FTUBDJPOBa NJFOUPMJCFSBEP JOEJDBRVFFMOJWFM EFMM䜷RVJEPEFGSFOPTFOFMEFQ䜽TJUP FTCBKP 4JFMOJWFMEFMM䜷RVJEPEFGSFOPTFOFMEFa Q䜽TJUPFTCBKP $POEV[DBDPODVJEBEPIBTUBFMMVHBS TFHVSP N䜫T DFSDBOP Z EFUFOHB FM WFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 158. $PO FM NPUPSQBSBEP DPNQSVFCF JONFEJBUBNFOUF FM OJWFM EFM M䜷RVJEP EFGSFOPTZB䜻BEBM䜷RVJEPTFH䝄OTFB OFDFTBSJP QBSBPCUFOFSN䜫TJOGPSa NBDJ䜽O DPOTVMUF 䳖-䜷RVJEP EF GSFa OPT䳗 FO MB Q䜫HJOB DPOUJa OVBDJ䜽O DPNQSVFCFUPEPTMPTDPNa QPOFOUFTEFMPTGSFOPTQBSBEFUFDa UBSQPTJCMFTGVHBTEFM䜷RVJEPODBa TPEFGVHBFOFMTJTUFNBEFGSFOPT TJFMUFTUJHPEFBEWFSUFODJBQFSNBa OFDF FODFOEJEP P TJ MPT GSFOPT OP GVODJPOBO DPSSFDUBNFOUF OP DPOa EV[DBFMWFI䜷DVMP OFTUFDBTP IBHBSFNPMDBSFMWFa I䜷DVMP IBTUB VO UBMMFS QSPGFTJPOBM QBSB RVF MP JOTQFDDJPOFO ,JB SFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 4 4JTUFNBEFEPCMFGSFOPEJBHPOBM 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOTJTUFNBT EF EPCMF GSFOP EJBHPOBM TUP TJHOJGJDB RVF JODMVTP TJ VOP EF MPT TJTUFNBT EPa CMFT TF BWFS䜷B TFHVJS䜫 EJTQPOJFOEP EF GSFOPTFOEPTSVFEBT $VBOEPT䜽MPGVODJPOBVOPEFMPTTJTUFa NBT EPCMFT TF QSFDJTB VO EFTQMB[Ba NJFOUPEFMQFEBMZVOBQSFTJ䜽OTPCSFFM QFEBMTVQFSJPSFTBMPOPSNBMQBSBEFUFa OFSFMWFI䜷DVMP EFN䜫T FM WFI䜷DVMP OP TF EFUFOES䜫 B VOBEJTUBODJBUBODPSUBTJT䜽MPGVODJPOB VOBQBSUFEFMTJTUFNBEFGSFOBEP 4JTFQSPEVDFVOGBMMPFOMPTGSFOPTEVa SBOUFMBDPOEVDDJ䜽O DBNCJFBVOBNBSa DIBJOGFSJPSQBSBBVNFOUBSMBGVFS[BEFM GSFOP NPUPS Z EFUFOHB FM WFI䜷DVMP FO DVBOUPQVFEBIBDFSMPFODPOEJDJPOFTEF TFHVSJEBE %735/$* 5FTUJHP EF BEWFSUFODJB EFM M䜷a RVJEPEFGSFOPTZEFMGSFOPEF FTUBDJPOBNJFOUP 3FTVMUB QFMJHSPTP DPOEVDJS DPO VO UFTUJHP EF BEWFSUFODJB FODFOEJEP 4J FM UFTUJHP EF BEWFSUFODJB EFM M䜷RVJEP EF GSFOPT Z EFM GSFOP EF FTUBDJPOBa NJFOUP TF FODJFOEF DPO FM GSFOP EF FTUBDJPOBNJFOUPMJCFSBEP FTUPJOEJDB RVF FM OJWFM EFM M䜷RVJEP EF GSFOPT FT CBKP O FTUF DBTP MMFWF FM WFI䜷DVMP B VO UBMMFSQSPGFTJPOBMQBSBRVFMPJOTQFDa DJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 5FTUJHPEFBEWFSUFODJB EFMTJTUFNBEFGSFOPT BOUJCMPRVFP #4 TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUF TFHVOEPT Z B DPOUJOVBa DJ䜽O TFBQBHB 䳜 4J FYJTUF VO QSPCMFNB DPO FM #4 FM TJTUFNB EF GSFOBEP OPSNBM TFHVJS䜫 GVODJPOBOEP QFSP TJO MB BZVEB EFM TJTUFNBEFGSFOPBOUJCMPRVFP OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 159. 5 5FTUJHPEFBEWFSUFODJB EFMTJTUFNBEJTUSJCVDJ䜽O EFMBGVFS[BEFGSFOBEP FMFDUS䜽OJDB #% TUPT EPTUFTUJHPT EF BEa WFSUFODJBTFJMVNJOBOBMNJTa NP UJFNQP EVSBOUF MB DPOa EVDDJ䜽O 䳜 4JFM#4ZFMTJTUFNBEFGSFOBEPOPSa NBMOPGVODJPOBODPSSFDUBNFOUF OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP %735/$* 5FTUJHPEFBEWFSUFODJBEFMTJTa UFNBEJTUSJCVDJ䜽OEFMBGVFS[B EFGSFOBEPFMFDUS䜽OJDB #% 4JMPTEPTUFTUJHPTEFBEWFSUFODJBEFM #4ZEFMM䜷RVJEPEFGSFOPTZEFMGSFa OPEFFTUBDJPOBNJFOUPTFFODJFOEFO FM TJTUFNB EF GSFOBEP OP GVODJPOB DPSSFDUBNFOUF Z QPES䜷B QSPEVDJSTF VOB TJUVBDJ䜽O JNQSFWJTUB Z QFMJHSPTB FODBTPEFGSFOBEBCSVTDB $POUJO䝄B $POUJO䝄B O FTUF DBTP FWJUF DPOEVDJS B HSBO WFMPDJEBEZMBTGSFOBEBTCSVTDBT -MFWFFMWFI䜷DVMPBVOUBMMFSQSPGFTJPa OBMMPBOUFTQPTJCMFQBSBRVFMPJOTa QFDDJPOFO,JBSFDPNJFOEBWJTJUBSVO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP /05 5FTUJHPEFBEWFSUFODJBEFMTJTa UFNBEJTUSJCVDJ䜽OEFMBGVFS[B EFGSFOBEPFMFDUS䜽OJDB #% 4J FM UFTUJHP EF BEWFSUFODJB EFM #4 TF FODJFOEF P TJ BNCPT UFTUJHPT EF BEWFSUFODJBEFM#4ZEFMM䜷RVJEPEF GSFOPTZEFMGSFOPEFFTUBDJPOBNJFOa UP TF FODJFOEFO FM WFMPD䜷NFUSP FM DVFOUBLJM䜽NFUSPTPFMDVFOUBLJM䜽NFa USPT QBSDJBM QPES䜷BO OP GVODJPOBS EFN䜫T FM UFTUJHP EF BEWFSUFODJB 14QPES䜷BFODFOEFSTFZQPES䜷BBVa NFOUBSPSFEVDJSTFFMFTGVFS[PEFMB EJSFDDJ䜽O $POUJO䝄B $POUJO䝄B O FTUF DBTP MMFWF FM WFI䜷DVMP B VO UBMMFSQSPGFTJPOBMMPBOUFTQPTJCMFQBa SBRVFMPJOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5FTUJHPEFBEWFSUFODJBEF MBEJSFDDJ䜽OBTJTUJEB FMFDUS䜽OJDB 14 TJFTU䜫 FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB TF FODJFOa EF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ TUFUFTUJHPJOEJDBEPSTFFODJFOEF EFTQV䜳T EF DPMPDBS MB MMBWF EF FOa DFOEJEPFOMBQPTJDJ䜽O0/Z BDPOa UJOVBDJ䜽O TF BQBHB BM USBOTDVSSJS VOPTTFHVOEPT 䳜 4JFYJTUFVOQSPCMFNBDPOFM14 OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 160. 5 5FTUJHPJOEJDBEPSEF BWFS䜷B .*- TUF UFTUJHPEF BEWFSUFODJB TFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 1FSNBOFDFFODFOEJEPIBTUBRVFFM NPUPSTFQPOFFONBSDIB 䳜 4JFYJTUFVOQSPCMFNBDPOFMTJTUFNB EFDPOUSPMEFFNJTJPOFT OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP 5/$*䜝/ 5FTUJHP JOEJDBEPS EF BWFS䜷B .*- 4JDPOEVDFDPOFMUFTUJHPJOEJDBEPSEF BWFS䜷B .*- FODFOEJEPQPES䜷BDBVTBS EFTQFSGFDUPTFOMPTTJTUFNBTEFDPOa USPMEFFNJTJPOFTZBGFDUBSBMBDBQBa DJEBE EF DPOEVDDJ䜽O ZP BM DPOTVNP EFDPNCVTUJCMF 5/$*䜝/ .PUPSEFHBTPMJOB 4JFMUFTUJHPJOEJDBEPSEFBWFS䜷B .*- TF JMVNJOB FT QPTJCMF RVF TF IBZBO QSPEVDJEPEB䜻PTFOFMDBUBMJ[BEPS MP DVBM QSPEVDJS䜷B VOB Q䜳SEJEB EF QPa UFODJBEFMNPUPS O FTUF DBTP MMFWF FM WFI䜷DVMP B VO UBMMFSQSPGFTJPOBMMPBOUFTQPTJCMFQBa SBRVFMPJOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ .PUPSEJ䜳TFM 4J FM UFTUJHP EFM JOEJDBEPS EF BWFS䜷B .*- QBSQBEFB FYJTUF BMH䝄O FSSPS SFMBDJPOBEPDPOFMBKVTUFEFMBDBOUJa EBEEFJOZFDDJ䜽ORVFQVFEFQSPWPDBS MBQ䜳SEJEBEFQPUFODJBEFMNPUPS SVJa EPFOMBDPNCVTUJ䜽OPVOBNBMBFNJa TJ䜽O O FTUF DBTP TPMJDJUF MB JOTQFDDJ䜽O EFMTJTUFNBEFDPOUSPMEFMNPUPSFO VOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTUSJa CVJEPS,JBBVUPSJ[BEP 5FTUJHPEFBEWFSUFODJB EFMTJTUFNBEFDBSHB TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 1FSNBOFDFFODFOEJEPIBTUBRVFFM NPUPSTFQPOFFONBSDIB 䳜 4JFYJTUFVOQSPCMFNBDPOFMBMUFSOBa EPSPDPOFMTJTUFNBEFDBSHBFM䜳DUSJa DB 4JFYJTUFVOQSPCMFNBDPOFMBMUFSOBEPS PDPOFMTJTUFNBEFDBSHBFM䜳DUSJDB $POEV[DBDPODVJEBEPIBTUBFMMVHBS TFHVSP N䜫T DFSDBOP Z EFUFOHB FM WFI䜷DVMP QBHVFFMNPUPSZDPNQSVFCFTJMB DPSSFB EF BDDJPOBNJFOUP EFM BMUFSa OBEPSFTU䜫GMPKBPSPUB OFTUFDBTP MMFWFFMWFI䜷DVMPBVO UBMMFS QSPGFTJPOBM MP BOUFT QPTJCMF QBSBRVFMPJOTQFDDJPOFO ,JBSFDPNJFOEBWJTJUBSVODFOUSPEF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[Ba EP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 161. - -V[EFBEWFSUFODJBEFMB QSFTJ䜽OEFBDFJUFEFM NPUPS TUF UFTUJHP EFBEWFSUFODJB TFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 1FSNBOFDFFODFOEJEPIBTUBRVFFM NPUPSTFQPOFFONBSDIB 䳜 $VBOEPMBQSFTJ䜽OEFBDFJUFEFMNPUPS FTCBKB 4JMBQSFTJ䜽OEFBDFJUFEFMNPUPSFTCBa KB $POEV[DBDPODVJEBEPIBTUBFMMVHBS TFHVSP N䜫T DFSDBOP Z EFUFOHB FM WFI䜷DVMP QBHVFFMNPUPSZDPNQSVFCFFMOJa WFMEFBDFJUFEFNPUPS QBSBPCUFa OFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖DFJUF EF NPUPS䳗 FO MB Q䜫HJOB 4J FM OJWFM FT CBKP B䜻BEB BDFJUFTFH䝄OTFBOFDFTBSJP 4JFMUFTUJHPEFBEWFSUFODJBQFSNBa OFDF FODFOEJEP EFTQV䜳T EF B䜻BEJS BDFJUFPTJOPEJTQPOFEFBDFJUF MMFa WFFMWFI䜷DVMPMPBOUFTQPTJCMFBVO UBMMFS QSPGFTJPOBM QBSB RVF MP SFWJa TFO,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP 5/$*䜝/ -V[ EF BEWFSUFODJB EF MB QSFa TJ䜽OEFBDFJUFEFMNPUPS 䳜 4JFMNPUPSOPTFEFUJFOFEFJONFa EJBUPEFTQV䜳TEFRVFFMUFTUJHPEF BEWFSUFODJB EF QSFTJ䜽O EF BDFJUF EFMNPUPSTFJMVNJOF QPES䜷BQSPWPa DBSHSBWFTEB䜻PT 䳜 4JFMUFTUJHPEFBEWFSUFODJBQFSNBa OFDF FODFOEJEP DPO FM NPUPS FO NBSDIB JOEJDBRVFQPES䜷BIBCFSTF QSPEVDJEP VO EB䜻P P VOB BWFS䜷B HSBWFEFMNPUPSOFTFDBTP $POUJO䝄B $POUJO䝄B %FUFOHB FM WFI䜷DVMP FO DVBOUP TFBTFHVSP QBHVF FM NPUPS Z DPNQSVFCF FM OJWFM EF BDFJUF 4J FM OJWFM EF BDFJUF FT CBKP SFMM䜳OFMP BM OJWFM BEFDVBEP SSBORVF EF OVFWP FM NPUPS 4J FM UFTUJHP EF BEWFSUFODJB QFSa NBOFDF FODFOEJEP EFTQV䜳T EF BSSBODBS FM NPUPS BQBHVF FM NPUPSJONFEJBUBNFOUFOFTUF DBTP MMFWFFMWFI䜷DVMPBVOUBMMFS QSPGFTJPOBM QBSB RVF MP JOTQFDa DJPOFO ,JB SFDPNJFOEB WJTJUBS VODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP 5FTUJHPEFBEWFSUFODJB EFMOJWFMCBKPEF DPNCVTUJCMF TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF $VBOEPFMEFQ䜽TJUPEFDPNCVTUJCMFFTU䜫 DBTJWBD䜷P 4JFMEFQ䜽TJUPEFDPNCVTUJCMFFTU䜫DBTJ WBD䜷P 䜻BEBDPNCVTUJCMFMPBOUFTQPTJCMF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 162. 5/$*䜝/ /JWFMEFDPNCVTUJCMFCBKP M DPOEVDJSDPO FM UFTUJHP EF BEWFSa UFODJB EF OJWFM CBKP EF DPNCVTUJCMF FODFOEJEPPDPOFMOJWFMEFDPNCVTUJa CMF QPS EFCBKP EF P QVFEF QSPWPDBSVOGBMMPEFMNPUPSZEB䜻PT FO FM DPOWFSUJEPS DBUBM䜷UJDP TJ FTU䜫 FRVJQBEP 5FTUJHPEFBEWFSUFODJBEF QSFTJ䜽OCBKBEFMPT OFVN䜫UJDPT TJFTU䜫 FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB TF FODJFOa EF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUF TFHVOEPT Z B DPOUJOVBa DJ䜽O TFBQBHB 䳜 4JVOPPWBSJPTOFVN䜫UJDPTFTU䜫OTJHa OJGJDBUJWBNFOUFQPSEFCBKPEFMBQSFa TJ䜽O EF JOGMBEP DPSSFDUB MB QPTJDJ䜽O EF MPT OFVN䜫UJDPT JOTVGJDJFOUFNFOUF JOGMBEPTTFJOEJDBFOMBQBOUBMMB-$% 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖4JTUFNB EF DPOUSPM EF QSFTJ䜽O EF MPT OFVN䜫UJDPT 51.4 䳗 FOMBQ䜫HJOB TUFUFTUJHPEFBEWFSUFODJBQFSNBOFDF FODFOEJEP USBT QBSQBEFBS EVSBOUF BQSPYJNBEBNFOUFTFHVOEPTPTJHVF QBSQBEFBOEPBJOUFSWBMPTEFBQSPYJNBa EBNFOUFTFHVOEPT 䳜 4JFYJTUFVOQSPCMFNBDPOFM51.4 OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFS QSPGFTJPOBM MP BOUFT QPTJCMF QBSB RVFMPJOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖4JTUFNB EF DPOUSPM EF QSFTJ䜽O EF MPT OFVN䜫UJDPT 51.4 䳗 FOMBQ䜫HJOB %735/$* 1BSBEBEFTFHVSJEBE 䳜 M 51.4 OP BWJTB EF MPT HSBWFT P SFQFOUJOPT EFTQFSGFDUPT DBVTBEPT QPSMPTGBDUPSFTFYUFSOPT $POUJO䝄B $POUJO䝄B 䳜 4JTJFOUFJOFTUBCJMJEBEFOFMWFI䜷DVa MP SFUJSFFMQJFJONFEJBUBNFOUFEFM BDFMFSBEPSZQJTFFMGSFOPEFGPSNB HSBEVBM Z MFOUBNFOUF EFTQM䜫DFTF B VOB QPTJDJ䜽O TFHVSB GVFSB EF MB DBM[BEB 5FTUJHPEFBEWFSUFODJBEF GSFOBEBEFFNFSHFODJB BVU䜽OPNB # TJFTU䜫 FRVJQBEP TUFUFTUJHPJOEJDBEPSTFFODJFOEF 䳜 4JFYJTUFVOQSPCMFNBDPOFM# OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBMMFS QSPGFTJPOBM QBSB RVF MP JOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5FTUJHPEFBEWFSUFODJBEF FYDFTPEFWFMPDJEBE TJ FTU䜫FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB QBSQBEFB 䳜 4J DPOEVDF FM WFI䜷DVMP B N䜫T EF LNI TUB GVODJ䜽O MF BEWJFSUF EF RVF DPOEVDFDPOFYDFTPEFWFMPDJEBE $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 163. -BTF䜻BMBD䝄TUJDBEFFYDFTPEFWFa MPDJEBE TVFOB EVSBOUFBQSPYJNBa EBNFOUFTFHVOEPT 5 5FTUJHPEFBEWFSUFODJB NBFTUSP TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 TUF UFTUJHP EF BEWFSUFODJB JOGPSNB BMDPOEVDUPSEFMPTJHVJFOUF WFS䜷B EFM 51.4 QSFTJ䜽O CBKB TJ FTU䜫FRVJQBEP DFJUFEFMNPUPSCBKP TJFTU䜫FRVJa QBEP WFS䜷BFOFMTJTUFNBEFGSFOBEBEF FNFSHFODJB TJFTU䜫FRVJQBEP 4JMBTJUVBDJ䜽OEFBEWFSUFODJBTFSFTVFMa WF FMUFTUJHPEFBEWFSUFODJBNBFTUSPTF BQBHBS䜫 5FTUJHPEFBEWFSUFODJBEF MBQVFSUBBCJFSUB TJFTU䜫 FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF $VBOEPVOBQVFSUBFTU䜫NBMDFSSBEB 5FTUJHPEFBEWFSUFODJBEF QVFSUBEFMNBMFUFSP BCJFSUB TJFTU䜫FRVJQBEP TUF UFTUJHP EF BEWFSUFODJB TFFODJFOEF $VBOEPMBQVFSUBEFMNBMFUFSPFTU䜫NBM DFSSBEB 5FTUJHPTJOEJDBEPSFT 5FTUJHPJOEJDBEPSEFM DPOUSPMFMFDUS䜽OJDPEF FTUBCJMJEBE 4$ TJFTU䜫 FRVJQBEP TUFUFTUJHPJOEJDBEPSTFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUF TFHVOEPT Z B DPOUJOVBa DJ䜽O TFBQBHB 䳜 4JFYJTUFVOQSPCMFNBDPOFMTJTUFNB 4$ OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP TUFUFTUJHPJOEJDBEPSQBSQBEFB $VBOEPFM4$FTU䜫GVODJPOBOEP 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖$POUSPM EF FTUBCJMJEBE FMFDUS䜽OJDP 4$ 䳗 FO MB Q䜫HJOB 5FTUJHPJOEJDBEPS0''EFM DPOUSPMFMFDUS䜽OJDPEF FTUBCJMJEBE 4$ BQBHBEP TJFTU䜫 FRVJQBEP TUFUFTUJHPJOEJDBEPSTFFODJFOEF 䳜 MDPMPDBSFMJOUFSSVQUPSEFFODFOEJEP P FM CPU䜽O /(*/ 45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ 4F JMVNJOB EVSBOUF BQSPYJNBEBa NFOUF TFHVOEPT Z B DPOUJOVBa DJ䜽O TFBQBHB 䳜 MEFTBDUJWBSFMTJTUFNB4$QVMTBOEP FMCPU䜽O4$0'' 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖$POUSPM EF FTUBCJMJEBE FMFDUS䜽OJDP 4$ 䳗 FO MB Q䜫HJOB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 164. * *OEJDBEPSEFQBSBEB BVUPN䜫UJDB TJFTU䜫 FRVJQBEP TUFJOEJDBEPSTFFODFOEFS䜫 DVBOEP FMNPUPS FOUSF FO FM NPEP EF QBSBEB BM SBMFOU䜷 EFM TJTUFNB *4( *EMF 4UPQBOE(P $VBOEP TF QSPEVDF FM BSSBORVF BVUPa N䜫UJDP FMJOEJDBEPSEFQBSBEBEFMTBMQJa DBEFSPQBSQBEFBS䜫EVSBOUFTFHVOEPT 䙓 1BSB N䜫T EFUBMMFT DPOTVMUF FM TJTa UFNB䳖*4( BQBHBEPZBSSBORVFBVa UPN䜫UJDP 䳗FOMBQ䜫HJOB /05 $VBOEPFMTJTUFNB*4(BSSBODBBVUPa N䜫UJDBNFOUFFMNPUPS BMHVOPTJOEJa DBEPSFT EF BEWFSUFODJB #4 4$ 4$ 0'' 14 P GSFOP EF FTUBDJPOBa NJFOUP QVFEFOFODFOEFSTFEVSBOUF BMHVOPTTFHVOEPT 4JFTUPPDVSSF MBDBVTBFTVOWPMUBKF CBKPFOMBCBUFS䜷B/PTJHOJGJDBRVFFM TJTUFNBUFOHBVOBBWFS䜷B 5FTUJHPJOEJDBEPSEFM JONPWJMJ[BEPS TJOMMBWF JOUFMJHFOUF TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEPFMWFI䜷DVMPEFUFDUBFMJONPWJMJa [BEPSDPSSFDUBNFOUFFOMBMMBWFDVBOa EP FM JOUFSSVQUPS EF FODFOEJEP FTU䜫 FOMBQPTJDJ䜽O0/ O FTUF NPNFOUP QVFEF BSSBODBS FMNPUPS M UFTUJHP JOEJDBEPS TF BQBHB USBT BSSBODBSFMNPUPS TUFUFTUJHPJOEJDBEPSQBSQBEFB 䳜 4JFYJTUFVOQSPCMFNBDPOFMTJTUFNB JONPWJMJ[BEPS OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP 5FTUJHPJOEJDBEPSEFM JONPWJMJ[BEPS DPOMMBWF JOUFMJHFOUF TUF UFTUJHP JOEJDBEPS TF FODJFOEF EVSBOUF TFHVOEPTDPNPN䜫YJNP 䳜 4J FM WFI䜷DVMP EFUFDUB DPSSFDUBNFOUF MB MMBWF JOUFMJHFOUF FO FM WFI䜷DVMP DVBOEPFMCPU䜽O/(*/45354501 JOJDJPQBSBEB EFM NPUPS FTU䜫 FO MB QPTJDJ䜽O $$ BDDFTPSJPT V 0/ BDUJa WBEP O FTUF NPNFOUP QVFEF BSSBODBS FMNPUPS M UFTUJHP JOEJDBEPS TF BQBHB USBT BSSBODBSFMNPUPS TUF UFTUJHP JOEJDBEPS QBSQBEFB VOPT TFHVOEPT 䳜 4J MB MMBWF JOUFMJHFOUF OP FTU䜫 EFOUSP EFMWFI䜷DVMP OFTUFNPNFOUP OPQVFEFBSSBOa DBSFMNPUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 165. TUFUFTUJHPJOEJDBEPSTFJMVNJOBEVSBOa UFTFHVOEPTZTFBQBHB 䳜 4JFMWFI䜷DVMPOPQVFEFEFUFDUBSMBMMBa WF JOUFMJHFOUFEFOUSP EFM WFI䜷DVMP DVBOEPFMCPU䜽O/(*/45354501 JOJDJPQBSBEB EFM NPUPS FTU䜫 FO MB QPTJDJ䜽O0/ OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP TUFUFTUJHPJOEJDBEPSQBSQBEFB 䳜 4J MB QJMB EF MB MMBWF JOUFMJHFOUF FTU䜫 EFTDBSHBEB OFTUFNPNFOUP OPQVFEFBSSBOa DBS FM NPUPS 4JO FNCBSHP QVFEF BSSBODBSFMNPUPSTJQVMTBFMCPU䜽O /(*/45354501 JOJDJPQBSBEB EFMNPUPS DPOMBMMBWFJOUFMJHFOUF 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖SSBORVF EFM NPUPS䳗 FO MBQ䜫HJOB 䳜 4JFYJTUFVOQSPCMFNBDPOFMTJTUFNB JONPWJMJ[BEPS OFTUFDBTP MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMQBSBRVFMPJOTQFDDJPa OFO,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP 5FTUJHPJOEJDBEPSEFM JOUFSNJUFOUF TUF UFTUJHP JOEJDBEPS QBSa QBEFB 䳜 MFODFOEFSMPTJOUFSNJUFOUFT 4J TF QSPEVDF BMHVOP EF MPT DBTPT TJa HVJFOUFT QPES䜷B QSPEVDJSTF VO GBMMP FO FMTJTUFNBEFMPTJOUFSNJUFOUFTOFTUF DBTP MMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFa TJPOBMQBSBRVFMPJOTQFDDJPOFO,JBSFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP MUFTUJHPJOEJDBEPSOPQBSQBEFB TJOP RVFTFJMVNJOB MUFTUJHPJOEJDBEPSQBSQBEFBN䜫TS䜫a QJEBNFOUF MUFTUJHPJOEJDBEPSOPTFFODJFOEF 5FTUJHPJOEJDBEPSEFMBT MVDFTEFDSVDF TJFTU䜫 FRVJQBEP TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEPMPTGBSPTFTU䜫OFODFOEJEPT 5FTUJHPJOEJDBEPSEFMV[ EFDBSSFUFSB TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEPMPTGBSPTFTU䜫OFODFOEJEPTZ FOMBQPTJDJ䜽OEFMVDFTEFDBSSFUFSB 䳜 $VBOEPMBQBMBODBEFMPTJOUFSNJUFOa UFT TF UJSB B MB QPTJDJ䜽O EF S䜫GBHBT QBSBFMBEFMBOUBNJFOUP 5FTUJHPJOEJDBEPSEFMVDFT FODFOEJEBT TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEP MPT QJMPUPT USBTFSPT P MPT GBa SPTFTU䜫OFODFOEJEPT 5FTUJHPJOEJDBEPSEFMB MV[BOUJOJFCMBEFMBOUFSB TJFTU䜫FRVJQBEP TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEPMBTMVDFTBOUJOJFCMBEFMBOUFSBT FTU䜫OFODFOEJEBT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 166. 5 5FTUJHPJOEJDBEPSEFMB MV[BOUJOJFCMBUSBTFSB TJ FTU䜫FRVJQBEP TUF UFTUJHPJOEJDBEPS TF FODJFOEF 䳜 $VBOEP MBT MVDFT BOUJOJFCMB USBTFSBT FTU䜫OFODFOEJEBT 5FTUJHPJOEJDBEPSEF DSVDFSP TJFTU䜫 FRVJQBEP TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 M BDUJWBS FM TJTUFNB EF DPOUSPMEFDSVDFSP 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖4JTUFNB EF DPOUSPM EF DSVDFSP䳗FOMBQ䜫HJOB 5FTUJHPJOEJDBEPSEF DSVDFSP45 TJFTU䜫 FRVJQBEP TUF UFTUJHP JOEJDBEPS TF FODJFOEF 䳜 $VBOEPTFIBBKVTUBEPMBWFMPDJEBEEF DPOUSPMEFDSVDFSP 䙓 1BSB PCUFOFS N䜫T JOGPSNBDJ䜽O DPOTVMUF 䳖4JTUFNB EF DPOUSPM EF DSVDFSP䳗FOMBQ䜫HJOB 5FTUJHPJOEJDBEPSEFMMBWF GVFSB TJFTU䜫FRVJQBEP $VBOEP FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFMNPUPS FTU䜫FOMBQPTJDJ䜽O$$V0/ TJ MB QVFSUB FTU䜫 BCJFSUB FM TJTUFNB DPNQSVFCBMBMMBWFJOUFMJHFOUF TUFUFTUJHPJOEJDBEPSQBSQBEFB $VBOEPMBMMBWFJOUFMJHFOUFOPFTU䜫EFOa USP EFM WFI䜷DVMP Z TF BCSF VOB QVFSUB DPOFMJOUFSSVQUPSEFFODFOEJEPPFMCPa U䜽O/(*/45354501 JOJDJPQBSBEB EFMNPUPS FOMBQPTJDJ䜽O$$V0/ OFTUFNPNFOUP TJTFDJFSSBOUPEBT MBTQVFSUBTTPOBS䜫VOBTF䜻BMBD䝄TUJDB EVSBOUFVOPTTFHVOEPT M JOEJDBEPS TF BQBHBS䜫 NJFOUSBT FM WFI䜷DVMPTFFTU䜫NPWJFOEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 167. 4 4*45.%:6%%45$*0/.*/5053430 4*45䜋26*1%0 MTJTUFNBEFBZVEBBMFTUBDJPOBNJFOUP USBTFSPBTJTUFBMDPOEVDUPSFOFMNPWJa NJFOUPEFEBSNBSDIBBUS䜫TFNJUJFOEP VOB TF䜻BMBD䝄TUJDB TJ TF EFUFDUB BMH䝄O PCKFUP B VOB EJTUBODJB EF DN EFa US䜫TEFMWFI䜷DVMP TUF FT VO TJTUFNB DPNQMFNFOUBSJP Z OP JOUFOUB SFFNQMB[BS MB OFDFTJEBEFT EF DVJEBEP Z BUFODJ䜽O FYUSFNPT EFM DPOEVDUPSMNBSHFOEFEFUFODJ䜽OZMPT PCKFUPTRVFEFUFDUBOMPTTFOTPSFTUSBa TFSPT 䙵 TPOMJNJUBEPTMEBSNBSDIB BUS䜫T QSFTUFBUFODJ䜽OBMPRVFFTU䜫EFa US䜫TTVZPDPNPTJFTUVWJFTFFOVOWFI䜷a DVMPTJOTJTUFNBEFBZVEBBMFTUBDJPOBa NJFOUPUSBTFSP %735/$* M TJTUFNB EF BZVEB EF FTUBDJPOBa NJFOUPUSBTFSPFTUBOT䜽MPVOBGVOa DJ䜽O DPNQMFNFOUBSJB M GVODJPOBa NJFOUPEFMTJTUFNBEFBZVEBEFFTa UBDJPOBNJFOUP USBTFSP QVFEF WFSTF BGFDUBEP QPS EJGFSFOUFT GBDUPSFT FOUSFMPTRVFTFJODMVZFOMBTDPOEJa DJPOFT NFEJP BNCJFOUBMFT M DPOa EVDUPSFTSFTQPOTBCMFEFDPNQSPCBS MB[POBUSBTFSBEFMWFI䜷DVMPBOUFTEF EBSNBSDIBBUS䜫T 'VODJPOBNJFOUPEFMTJTUFNBEF BZVEBEFFTUBDJPOBNJFOUP USBTFSP $POEJDJ䜽OPQFSBUJWB 䳜 MTJTUFNBTFBDUJWBBMDPOEVDJSNBSa DIB BUS䜫T DPO FM JOUFSSVQUPS EF FOa DFOEJEPFO0/ 4JFMWFI䜷DVMPTFEFTQMB[BBVOBWFMPDJa EBETVQFSJPSBLNI FMTJTUFNBQPa ES䜷BOPBDUJWBSTFDPSSFDUBNFOUF 䳜 -B EJTUBODJB EF EFUFDDJ䜽O NJFOUSBT FTU䜫GVODJPOBOEPFMTJTUFNBEFBZVEB BM FTUBDJPOBNJFOUP USBTFSP FT EF DNBQSPYJNBEBNFOUF 䳜 4JTFEFUFDUBON䜫TEFEPTPCKFUPTBM NJTNPUJFNQP FMN䜫TDFSDBOPTFSFa DPOPDFS䜫QSJNFSP 5JQPTEFTPOJEPTEFBEWFSa UFODJB *OEJDBEPS $VBOEPVOPCKFUPFTU䜫B VOBEJTUBODJBEFFOUSF DNZDNEFMQBSBa DIPRVFTUSBTFSP M[VNCBEPSFNJUFTF䜻Ba MFTBD䝄TUJDBTEFGPSNBJOa UFSNJUFOUF $VBOEPVOPCKFUPFTU䜫B VOBEJTUBODJBEFFOUSF DNZDNEFMQBSBa DIPRVFTUSBTFSP M[VNCBEPSFNJUFTF䜻Ba MFTBD䝄TUJDBTDPON䜫TGSFa DVFODJB $VBOEPVOPCKFUPFTU䜫B VOPTDNEFMQBSBDIPa RVFTUSBTFSP M[VNCBEPSTPOBS䜫DPOUJa OVBNFOUF TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 168. / /05 MJOEJDBEPSQVFEFTFSEJGFSFOUFBMEF MB JMVTUSBDJ䜽O TFH䝄OMPT PCKFUPT P FM FTUBEPEFMTFOTPS 4J FM JOEJDBEPS QBSQBEFB TPMJDJUF MB DPNQSPCBDJ䜽OEFMTJTUFNBFOVOUBa MMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJa UBSVODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP $POEJDJPOFTFOMBTRVFOP GVODJPOBFMTJTUFNBEFBZVEBBM FTUBDJPOBNJFOUPUSBTFSP M TJTUFNB EF BZVEB EFM FTUBDJPOBNJFOUP USBTFSP QVFEF OP GVODJPOBSDPSSFDUBNFOUFDVBOEP -BIVNFEBETFIBDPOHFMBEPFOFM TFOTPS 7PMWFS䜫BGVODJPOBSDPSSFDa UBNFOUF DVBOEP TF IB MJNQJBEP MB IVNFEBE M TFOTPS FTU䜫 DVCJFSUP QPS BMH䝄O NBUFSJBMFYUFSOPDPNPOJFWFPBHVB P MB DVCJFSUB EFM TFOTPS FTU䜫 CMPa RVFBEB 'VODJPOBS䜫DPSSFDUBNFOUF DVBOEPTFFYUSBJHBFMDVFSQPFYUSBa 䜻PPFMTFOTPSZBOPFTU䜳CMPRVFBa EP 4FDPOEVDFFOTVQFSGJDJFTEFTJHVBa MFT DBSSFUFSBT TJO QBWJNFOUBS DPO HSBWJMMBPFOQFOEJFOUF $PO PCKFUPT RVF HFOFSBO VO SVJEP FYDFTJWP DMBYPOFT EF WFI䜷DVMPT NPUPSFT EF NPUPDJDMFUBT P GSFOPT EFBJSFEFMPTDBNJPOFT RVFFTU䜳O EFOUSPEFMNBSHFOEFMTFOTPS $PO MMVWJB GVFSUF P TBMQJDBEVSBT EF BHVB $POUSBOTNJTPSFTTJODBCMFTPUFM䜳a GPOPTRVFFTU䜫OEFOUSPEFMNBSHFO EFMTFOTPS MTFOTPSFTU䜫DVCJFSUPEFOJFWF 4FBSSBTUSBVOSFNPMRVF M NBSHFO EF EFUFDDJ䜽O EJTNJOVZF DVBOEP MTFOTPSFTU䜫NBODIBEPDPONBUFa SJBMFTFYUFSJPSFTDPNPOJFWFPBHVB M NBSHFO EF EFUFODJ䜽O WPMWFS䜫 B MBOPSNBMDVBOEPTFRVJUFO -B UFNQFSBUVSB FYUFSJPS FT FYUSFa NBEBNFOUFDBMJFOUFPGS䜷B -PT TJHVJFOUFT PCKFUPT QPES䜷BO OP TFSSFDPOPDJEPTQPSFMTFOTPS 0CKFUPT BGJMBEPT P EFMHBEPT DPNP DVFSEBT DBEFOBT P CBSSBT QFRVFa 䜻BT 0CKFUPT RVF JOUFOUFO BCTPSCFS MB GSFDVFODJB EFM TFOTPS DPNP SPQBT NBUFSJBMFTFTQPOKPTPTPOJFWF 0CKFUPT OP EFUFDUBCMFT EF BMUVSB NFOPS B N Z EJ䜫NFUSP NFOPS B DN 1SFDBVDJPOFTBMVUJMJ[BSFM TJTUFNBEFBZVEBBM FTUBDJPOBNJFOUPUSBTFSP 䳜 M TJTUFNB EF BZVEB BM FTUBDJPOBa NJFOUP USBTFSP QVFEF OP TPOBS DPOa TJTUFOUFNFOUFEFQFOEJFOEPEFMBWFa MPDJEBE Z MBT GPSNBT EF MPT PCKFUPT EFUFDUBEPT 䳜 M TJTUFNB EF BZVEB EF FTUBDJPOBa NJFOUP USBTFSP QVFEF OP GVODJPOBS DPSSFDUBNFOUF TJ MB BMUVSB EFM QBSBa DIPRVFTEFMWFI䜷DVMPPFMTFOTPSIBTJa EPNPEJGJDBEPTPEB䜻BEPT$VBMRVJFSB EFMPTFRVJQBNJFOUPTPBDDFTPSJPTOP JOTUBMBEPTFOG䜫CSJDBQVFEFJOUFSGFSJS DPOFMSFOEJNJFOUPEFMTFOTPS 䳜 MTFOTPSQPES䜷BOPSFDPOPDFSPCKFUPT BNFOPTEFDNEFMTFOTPSPQPES䜷B EFUFDUBS VOB EJTUBODJB JODPSSFDUB 1SPDFEBDPOQSFDBVDJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 169. 䳜 4J FMTFOTPS FTU䜫 DPOHFMBEP P NBOa DIBEP EF OJFWF TVDJFEBE P BHVB FM TFOTPSQPES䜷BOPGVODJPOBSIBTUBMJNa QJBSMPDPOVOQB䜻PTVBWF 䳜 /PFNQVKF SBTRVFPHPMQFFFMTFOTPS 1PES䜷BEB䜻BSFMTFOTPS / /05 TUF TJTUFNB T䜽MP QVFEF EFUFDUBS PCKFUPT EFOUSP EFM NBSHFO Z VCJDBa DJ䜽O EF MPT TFOTPSFT OP QVFEF EFa UFDUBSPCKFUPTRVFTFFODVFOUSFOFO PUSBT[POBTFOMBTRVFOPTFIBZBO JOTUBMBEP TFOTPSFT TJNJTNP QPa ES䜷BO OP EFUFDUBSTF PCKFUPT QFRVFa 䜻PT P GJOPT DPNP QPTUFT V PCKFUPT TJUVBEPTFOUSFMPTTFOTPSFT $PNQSVFCF TJFNQSF WJTVBMNFOUF MB QBSUFUSBTFSBEFMWFI䜷DVMPBMDPOEVDJS NBSDIBBUS䜫T TFH䝄SFTFEFJOGPSNBSBMDPOEVDUPS EFM WFI䜷DVMP RVF QVFEB OP FTUBS GBa NJMJBSJ[BEP DPO FM TJTUFNB TPCSF MB DBQBDJEBEZMBTMJNJUBDJPOFTEFMNJTa NP %735/$* YUSFNF MBT QSFDBVDJPOFT DVBOEP DPOEV[DBFMWFI䜷DVMPDFSDBEFPCKFUPT RVFTFFODVFOUSFOFOMBDBM[BEB FTa QFDJBMNFOUF QFBUPOFT Z NVZ FTQFa DJBMNFOUF OJ䜻PT 5FOHB FO DVFOUB RVFFTQPTJCMFRVFFMTFOTPSOPEFa UFDUFBMHVOPTPCKFUPTEFCJEPBMBEJTa UBODJBBMBRVFTFFODVFOUSBO TVUBa NB䜻P P FM NBUFSJBM EF MPT NJTNPT DBSBDUFS䜷TUJDBTRVFQVFEFOMJNJUBSMB FGJDBDJBEFMPTTFOTPSFT$PNQSVFCF TJFNQSFWJTVBMNFOUFRVFFMWFI䜷DVMP FTU䜳MJCSFEFPCTUSVDDJPOFTBOUFTEF EFTQMB[BSMPFODVBMRVJFSEJSFDDJ䜽O VUPEJBHO䜽TUJDP 4JOPFTDVDIBVOBTF䜻BMBD䝄TUJDBPTJFM BWJTBEPSBD䝄TUJDPTVFOBEFGPSNBJOUFSa NJUFOUFBMDBNCJBSMBNBSDIBBMBQPTJa DJ䜽O3 NBSDIBBUS䜫T FTUPQVFEFJOEJa DBSVOBBWFS䜷BFOFMTJTUFNBEFBZVEBBM FTUBDJPOBNJFOUP USBTFSP 4J PDVSSF FTa UP TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTUFNB FOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP %735/$* -BHBSBOU䜷BEFWFI䜷DVMPOVFWPOPDVa CSFBDDJEFOUFTPEB䜻PTEFMWFI䜷DVMPP MFTJPOFT EF TVT PDVQBOUFT EFCJEP B VO NBM GVODJPOBNJFOUP EFM TJTUFNB EFBZVEBEFFTUBDJPOBNJFOUPUSBTFa SP$POEV[DBTJFNQSFDPODVJEBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 170. $ $䜋.3%7*4*䜝/5343 4*45䜋26*1%0 -BD䜫NBSBEFWJTJ䜽OUSBTFSBTFBDUJWBS䜫 DVBOEP TFFODJFOEB MB MV[ EF NBSDIB BUS䜫T DPO FM JOUFSSVQUPS EF FODFOEJEP FO0/ZMBQBMBODBEFDBNCJPTFOMBQPa TJDJ䜽O3 NBSDIBBUS䜫T TUFFTVOTJTUFNBBEJDJPOBMRVFNVFTa USB MP RVF IBZ FO MB QBSUF USBTFSB EFM WFI䜷DVMPBUSBW䜳TEFMBQBOUBMMBEFMTJTa UFNB EF OBWFHBDJ䜽O NJFOUSBT EB NBSa DIBBUS䜫T %735/$* 䳜 TUF TJTUFNB FT T䜽MP VOB GVODJ䜽O TVQMFNFOUBSJB T SFTQPOTBCJMJEBE EFM DPOEVDUPS DPNQSPCBS TJFNQSF QPS MPT SFUSPWJTPSFT JOUFSJPSFT Z FYUFSJPSFTMB[POBUSBTFSBEFMWFI䜷a DVMPBOUFTEFJOJDJBSMBDPOEVDDJ䜽O NBSDIB BUS䜫T QPSRVF IBZ QVOUPT RVFOPTFQVFEFOWFSBUSBW䜳TEF MBD䜫NBSB 䳜 .BOUFOHB TJFNQSF MJNQJB MB MFOUF EF MB D䜫NBSB 4J MBT MFOUFT FTU䜫O DVCJFSUBTDPONBUFSJBMFTFYUFSOPT MBD䜫NBSBOPGVODJPOBS䜫DPSSFDUBa NFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 171. -6.#3%0 'VODJ䜽OEFBIPSSPEFCBUFS䜷B 䳜 MPCKFUJWPEFFTUBGVODJ䜽OFTFWJUBSMB EFTDBSHB EFMB CBUFS䜷B M TJTUFNB BQBHB BVUPN䜫UJDBNFOUF MBT MVDFT EF FTUBDJPOBNJFOUPDVBOEPFMDPOEVDUPS RVJUBMBMMBWFEFFODFOEJEPPBQBHBFM NPUPS MMBWF JOUFMJHFOUF BQBHVF FM NPUPS Z BCSF MB QVFSUB EFM DPOEVDa UPS 䳜 $PO FTUB DBSBDUFS䜷TUJDB MBT MVDFT EF FTUBDJPOBNJFOUP TF BQBHBS䜫O BVUPa N䜫UJDBNFOUF TJ FM DPOEVDUPS BQBSDB BMMBEPEFMBDBSSFUFSBQPSMBOPDIF 4JFTOFDFTBSJPNBOUFOFSFTUBTMVDFT FODFOEJEBT DVBOEP TF RVJUB MB MMBWF MMBWF JOUFMJHFOUF BQBHB FM NPUPS SFBMJDFMPTJHVJFOUF CSBMBQVFSUBEFMDPOEVDUPS $PMPRVF MBT MVDFT EF FTUBDJPOBa NJFOUP FO 0'' Z EF OVFWP FO 0/ DPOFMJOUFSSVQUPSEFMBTMVDFTEFMB DPMVNOBEFEJSFDDJ䜽O 'VODJ䜽OEFFTDPMUBEFMPTGBSPT TJFTU䜫FRVJQBEP -PT GBSPT ZP MBT MVDFT USBTFSBT QFSa NBOFDFO FODFOEJEPT EVSBOUF VOPT NJOVUPTEFTQV䜳TEFSFUJSBSMBMMBWFEF FODFOEJEP DVBOEP FM NPUPS TF BQBHB 4JOFNCBSHP TJMBQVFSUBEFMDPOEVDUPS TFBCSFZTFDJFSSB MPTGBSPTTFBQBHBa S䜫OEFTQV䜳TEFTFHVOEPT -PT GBSPT TF QVFEFO BQBHBS QVMTBOEP EPT WFDFT FM CPU䜽O EF CMPRVFP EFM USBOTNJTPS P EF MB MMBWF JOUFMJHFOUF P BQBHBOEPFMJOUFSSVQUPSEFMBTMVDFTEF MPTGBSPTPMBQPTJDJ䜽OBVUPN䜫UJDBEFMBT MVDFT 5/$*䜝/ 4J FM DPOEVDUPS TBMF EFM WFI䜷DVMP QPS PUSBQVFSUB EJTUJOUBBMBEFMDPOEVDa UPS MBGVODJ䜽OEFBIPSSPEFCBUFS䜷B OP TF BDUJWB Z MB GVODJ䜽O EF FTDPMUB EFMPTGBSPTOPTFBQBHBBVUPN䜫UJDBa NFOUF1PSUBOUP MBCBUFS䜷BTFEFTa DBSHBS䜫 O FTF DBTP BTFH䝄SFTF EF BQBHBS MPT GBSPT BOUFT EF TBMJS EFM WFI䜷DVMP 'VODJ䜽OEFCJFOWFOJEBEFMPT GBSPT TJFTU䜫FRVJQBEP $VBOEPFMJOUFSSVQUPSEFMPTGBSPTFTU䜫 DPMPDBEPFOMBQPTJDJ䜽O0/P650ZUPa EBTMBTQVFSUBT ZMBQVFSUBUSBTFSB FTa U䜫O DFSSBEBT Z CMPRVFBEBT TJ QVMTB FM CPU䜽OEFEFTCMPRVFPEFMBQVFSUBFOFM USBOTNJTPS PFOMBMMBWFJOUFMJHFOUF MPT GBSPT TF FODFOEFS䜫O EVSBOUF VOPT TFHVOEPT 4JFMJOUFSSVQUPSEFMPTGBSPTFTU䜫FOMB QPTJDJ䜽O650 MBGVODJ䜽OT䜽MPGVODJPOB QPSMBTOPDIFT O FTF NPNFOUP TJ QVMTB FM CPU䜽O EF EFTCMPRVFP EF MB QVFSUB P FM CPU䜽O EF CMPRVFPEFMUSBOTNJTPS PEFMBMMBWFJOa UFMJHFOUF MPTGBSPTTFBQBHBS䜫OJONFa EJBUBNFOUF /05 $BNCJPEFUS䜫GJDP QBSBVSPa QB -BEJTUSJCVDJ䜽OEFMBMV[EFMPTGBSPT EF DSVDF FT BTJN䜳USJDB 4J WB BM FYa USBOKFSP B VO QB䜷T RVF DPOEV[DBO QPS FM MBEP PQVFTUP FTUB QJF[B BTJa $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 172. $POUJO䝄B N䜳USJDBEFTMVNCSBS䜫BMPTDPOEVDUPa SFTRVFWFOHBOFOTFOUJEPDPOUSBSJP 1BSB FWJUBS EFTMVNCSBNJFOUPT MBT SFHVMBDJPOFT $ EFUFSNJOBO VOB TFSJF EF TPMVDJPOFT U䜳DOJDBT Q FK TJTUFNBEFDBNCJPBVUPN䜫UJDP IPKB BEIFTJWB QSPZFDDJ䜽O TUPT GBSPT FTU䜫OEJTF䜻BEPSQBSBOPEFTMVNCSBS BMSFTUPEFDPOEVDUPSFT/POFDFTJUB DBNCJBS MPT GBSPT FO VO QB䜷T EPOEF TFDPOEV[DBQPSFMMBEPPQVFTUP $POUSPMEFMBJMVNJOBDJ䜽O MJOUFSSVQUPSEFMBTMVDFTUJFOFVOBQPa TJDJ䜽OEFMV[EFGBSPTZVOBQPTJDJ䜽OEF MV[EFFTUBDJPOBNJFOUP 1BSBVUJMJ[BSMBTMVDFT HJSFFMNBOEPEFM FYUSFNPEFMBQBMBODBEFDPOUSPMBVOB EFMBTQPTJDJPOFTTJHVJFOUFT 1PTJDJ䜽O0'' 1PTJDJ䜽OEFMVDFTVUP TJFTU䜫FRVJa QBEP 1PTJDJ䜽OEFMV[EFFTUBDJPOBNJFOUP 1PTJDJ䜽OEFMGBSP 1PTJDJ䜽OEFMBMV[EF FTUBDJPOBNJFOUP $VBOEPFMJOUFSSVQUPSEFMBTMVDFTFTU䜫 FOMBQPTJDJ䜽OEFMV[EFFTUBDJPOBNJFOa UP 䛴QPTJDJ䜽O MBMV[USBTFSB MBEFQPa TJDJ䜽O MB EF MB NBUS䜷DVMB Z FM QBOFM EF JOTUSVNFOUPTTFFODFOEFS䜫O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 173. 1 1PTJDJ䜽OEFMPTGBSPT $VBOEPFMJOUFSSVQUPSEFMBTMVDFTFTU䜫 FOMBQPTJDJ䜽OEFGBSPT 䛴QPTJDJ䜽O MPT GBSPTMBTMVDFTUSBTFSBT MBMV[EFQPTJa DJ䜽O MB EF MB NBUS䜷DVMB Z EFM QBOFM EF JOTUSVNFOUPTFTU䜫OFODFOEJEPT /05 MJOUFSSVQUPSEFFODFOEJEPEFCFFTa UBSFOMBQPTJDJ䜽O0/QBSBFODFOEFS MPTGBSPT 1PTJDJ䜽OEFMVDFTVUP TJFTU䜫 FRVJQBEP $VBOEPFMJOUFSSVQUPSEFMBTMVDFTFTU䜫 FO MB QPTJDJ䜽O 650 MBT MVDFT EF QPTJa DJ䜽OZMPTGBSPTTFFODJFOEFOZBQBHBO BVUPN䜫UJDBNFOUF TFH䝄O MB JOUFOTJEBE EFMV[FOFMFYUFSJPSEFMWFI䜷DVMP 5/$*䜝/ 䳜 1BSB HBSBOUJ[BS VO NFKPS DPOUSPM EFMTJTUFNBEFMBTMVDFTBVUPN䜫UJa DBT OPDPMPRVFOJOH䝄OPCKFUPFODJa NBEFMTFOTPS VCJDBEPFOFMQBa OFMEFJOTUSVNFOUPT 䳜 /PMJNQJFFMTFOTPSDPOMJNQJBDSJTa UBMFT ZBRVFQPES䜷BEFKBSVOBDBQB RVF JOUFSGFSJS䜷B DPO FM GVODJPOBa NJFOUPEFMTFOTPS 䳜 4JTVWFI䜷DVMPUJFOFMBMVOBEFMQBa SBCSJTBTUJOUBEBPDPOPUSPUJQPEF SFWFTUJNJFOUPNFU䜫MJDP FMTJTUFNB EF MVDFT BVUPN䜫UJDBT QPES䜷B OP GVODJPOBSDPSSFDUBNFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 174. 0 0QFSBDJ䜽OEFMPTGBSPTEF DBSSFUFSB 1BSBFODFOEFSMPTGBSPTEFMBTMVDFTEF DBSSFUFSB FNQVKFMBQBMBODBIBDJBGVFa SBDVBOEPFMGBSPFTU䜳FODFOEJEP1BSB MBTMVDFTEFDSVDF UJSFEFMBQBMBODBIBa DJBEFOUSP MJOEJDBEPSEFMBTMVDFTEFDBSSFUFSBTF FODFOEFS䜫DVBOEPMPTGBSPTEFMBTMVDFT EFDBSSFUFSB FTU䜳O FODFOEJEPT 1BSB FWJUBS RVF MB CBUFS䜷B TF EFTDBSHVF OP EFKF MBT MVDFT FODFOEJEBT EVSBOUF MBSa HPT QFSJPEPT EF UJFNQP TJ FM NPUPS OP FTU䜫GVODJPOBOEP %735/$* /PVTFMBTMVDFTEFDBSSFUFSBDVBOEP IBZB PUSPT WFI䜷DVMPT -BT MVDFT EF DBSSFUFSB QPES䜷BO SFEVDJS MB WJTJCJMJa EBEEFMPTEFN䜫TDPOEVDUPSFT 1BSBIBDFSS䜫GBHBTDPOMPTGBSPT UJSFEF MB QBMBODB IBDJB VTUFE 3FHSFTBS䜫 B MB QPTJDJ䜽OOPSNBM MVDFTEFDSVDF DVBOEP TFTVFMUFMJOUFSSVQUPSEFMPTGBSPTOP OFDFTJUBFTUBSFODFOEJEPQBSBVTBSFTa UBDBSBDUFS䜷TUJDBEFFODFOEJEP *OUFSNJUFOUFTFJOUFSNJUFOUFT EFDBNCJPEFDBSSJM MJOUFSSVQUPSEFFODFOEJEPEFCFFTUBS BDUJWBEP QBSB RVF GVODJPOFO MPT JOUFSa NJUFOUFT 1BSB FODFOEFS MPT JOUFSNJa UFOUFT NVFWBMBQBMBODBIBDJBBSSJCBP IBDJBBCBKP -BGMFDIBWFSEFEFMQBOFMEFJOTUSVNFOa UPTJOEJDBRV䜳JOUFSNJUFOUFFTU䜫GVODJPa OBOEP 4F BQBHBS䜫O BVUPN䜫UJDBNFOUF VOBWF[SFBMJ[BEPFMDBNCJP 4JFMJOEJDBEPSDPOUJO䝄BFODFOEJEPEFTa QV䜳TEFMHJSP QVFEFDPMPDBSMBQBMBODB NBOVBMNFOUF FO MB QPTJDJ䜽O EF EFTDPa OFYJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 175. 1BSBTF䜻BMJ[BSFMDBNCJPEFDBSSJM NVFa WB MBQBMBODB EFM JOUFSNJUFOUF MJHFSBa NFOUFZNBOU䜳OHBMBFOQPTJDJ䜽O # -B QBMBODBSFHSFTBS䜫BMBQPTJDJ䜽OEFEFTa DPOFYJ䜽ODVBOEPTFTVFMUF 4J FM JOEJDBEPS QFSNBOFDF FODFOEJEP Z OPQBSQBEFBPQBSQBEFBEFGPSNBBO䜽a NBMB FTQPTJCMFRVFVOBEFMBTCPNCJa MMBTEFMJOUFSNJUFOUFFTU䜳GVOEJEBZOFa DFTJUFDBNCJBSTF ' 'VODJ䜽OEFDBNCJPEFDBSSJMEFVO UPRVF TJFTU䜫FRVJQBEP 1BSBBDUJWBSMBGVODJ䜽OEFDBNCJPEFDBa SSJM NVFWB MJHFSBNFOUF MB QBMBODB EFM JOUFSNJUFOUFZTV䜳MUFMB-BTTF䜻BMFTEF DBNCJP EF DBSSJM QBSQBEFBS䜫O EF _ WFDFT M O䝄NFSP EF TF䜻BMFT TF QVFEFDBNCJBSFOMBTMVDFTFOFMNPEP KVTUFTEFMVTVBSJP /05 4J FM QBSQBEFP EFM JOEJDBEPS FT EFa NBTJBEPS䜫QJEPPEFNBTJBEPMFOUP MB CPNCJMMBQVFEFFTUBSGVOEJEBPUFOFS VOBNBMBDPOFYJ䜽OFM䜳DUSJDBFOFMDJSa DVJUP -V[BOUJOJFCMBEFMBOUFSB TJFTU䜫 FRVJQBEP -BTMVDFTBOUJOJFCMBTJSWFOQBSBNFKPSBS MB WJTJCJMJEBE FO DBTP EF OJFCMB MMVWJB P OJFWF FUD -BT MVDFT BOUJOJFCMB TF FOa DFOEFS䜫O DVBOEP FM JOUFSSVQUPS EF MBT MVDFT BOUJOJFCMB TF BDUJWB EFTQV䜳T EFFODFOEFSMBMV[EFFTUBDJPOBNJFOUP 1BSB BQBHBS MBT MVDFT BOUJOJFCMB DPMPa RVFFMJOUFSSVQUPSEFMBTMVDFTBOUJOJFa CMB FOMBQPTJDJ䜽O0'' 5/$*䜝/ $VBOEPFTU䜫OGVODJPOBOEP MBTMVDFT BOUJOJFCMB DPOTVNFO HSBOEFT DBOUJa EBEFTEFMBQPUFODJBFM䜳DUSJDBEFMWFa I䜷DVMP6UJMJDFTPMPMBTMVDFTBOUJOJFCMB DVBOEPMBWJTJCJMJEBETFBNVZNBMB 'BSPBOUJOJFCMBUSBTFSP TJFTU䜫 FRVJQBEP 1BSBFODFOEFSMPTQJMPUPTBOUJOJFCMBUSBa TFSPT DPMPRVF FM JOUFSSVQUPS EF MB MV[ BOUJOJFCMBUSBTFSB FOMBQPTJDJ䜽O0/ DPOMPTGBSPTFODFOEJEPT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 176. -PTQJMPUPTBOUJOJFCMBUSBTFSPTUBNCJ䜳O TF FODFOEFS䜫O DVBOEPTF FODJFOEB FM JOUFSSVQUPS EF MB MV[ BOUJOJFCMB USBTFSB EFTQV䜳T EF FODFOEFS FM JOUFSSVQUPS EF MBMV[BOUJOJFCMBEFMBOUFSB TJFTU䜫FRVJa QBEP ZFMJOUFSSVQUPSEFMPTGBSPTFTU䜳 FOMBQPTJDJ䜽OEFMV[EFFTUBDJPOBNJFOa UP 1BSB BQBHBS MBT MVDFT BOUJOJFCMB DPMPa RVFFMJOUFSSVQUPSEFMBTMVDFTBOUJOJFa CMB FOMBQPTJDJ䜽O0'' / /05 -B MV[ BOUJOJFCMB USBTFSB TPMP FTU䜫 VCJDBEB FO FM MBEP EFM DPOEVDUPS TJ FTU䜫FRVJQBEP -VDFTEFDPOEVDDJ䜽OEJVSOB TJ FTU䜫FRVJQBEP -BT MVDFT EF DPOEVDDJ䜽O EJVSOB %3- QVFEFO GBDJMJUBS RVF PUSPT WFI䜷DVMPT WFBOMBQBSUFEFMBOUFSBEFMTVZPEVSBOa UF FM E䜷B -BT %3- QVFEFO BZVEBSMF FO MPTEJGFSFOUFTFTUBEPTEFDPOEVDDJ䜽OZ FTQFDJBMNFOUF BOUFT EFM BNBOFDFS Z EFTQV䜳TEFMBQVFTUBEFTPM MTJTUFNB%3-TFBQBHBDVBOEP MJOUFSSVQUPSEFMPTGBSPTFTU䜫FOa DFOEJEP MNPUPSFTU䜫QBSBEP -BMV[BOUJOJFCMBFTU䜫FODFOEJEB M GSFOP EF FTUBDJPOBNJFOUP FTU䜫 BDDJPOBEP %JTQPTJUJWPEFOJWFMBDJ䜽OEFMPT GBSPT TJFTU䜫FRVJQBEP 1BSB BKVTUBS FM OJWFM QSPZFDDJ䜽O EF MV[ EFMPTGBSPTEFBDVFSEPDPOFMO䝄NFSP EF QBTBKFSPT Z FM QFTP EF DBSHB FO FM NBMFUFSP HJSF FM JOUFSSVQUPS EF OJWFMBa DJ䜽OEFMPTGBSPT NBZPS O䝄NFSP EF QPTJDJ䜽O EFM JOUFa SSVQUPS N䜫TCBKPFTUBS䜫FMOJWFMEFQSPa ZFDDJ䜽OEFMPTGBSPT.BOUFOHBTJFNQSF MPT GBSPT FO FM OJWFM BEFDVBEP P 䜳TUPT QVFEFOEFTMVNCSBSBMPTPUSPTVTVBSJPT EFMBDBSSFUFSB DPOUJOVBDJ䜽OTFMJTUBOMPTFKFNQMPTEF MPT BKVTUFT BEFDVBEPT EFM JOUFSSVQUPS O DBTP EF DPOEJDJPOFT EF DBSHB EJGFa SFOUFT B MBT MJTUBEBT B DPOUJOVBDJ䜽O BKVTUF MB QPTJDJ䜽O EFM JOUFSSVQUPS QBSB RVFFMOJWFMEFMGBSPFTU䜳MPN䜫TDFSDBOP QPTJCMF B VOB EF MBT DPOEJDJPOFT MJTUBa EBT $POEJDJ䜽OEFDBSHB 1PTJDJ䜽OEFMJOUFa SSVQUPS 4䜽MPDPOEVDUPS $POEVDUPS QBTBa KFSPEFMBOUFSP 5PEPTMPTQBTBKFa SPT JODMVJEPFM DPOEVDUPS 5PEPTMPTPDVQBOa UFT JODMVJEPFM DPOEVDUPS .䜫a YJNPEFDBSHB QFSNJUJEB $POEVDUPS $BSHB N䜫YJNBQFSNJUJEB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 177. - -*.1*:-713#3*44 DPOUSPM EFWFMPDJEBE EFM MJNQJBQBSBa CSJTBT EFMBOUFSP )*䳍7FMPDJEBES䜫QJEBEFCBSSJEP -0䳍7FMPDJEBEMFOUBEFCBSSJEP */5䳍1BTBEBTJOUFSNJUFOUFT 00''䳍0GG 9䳍6OTPMPCBSSJEP #BKVTUFEFMUJFNQPEFMCBSSJEPEFDPOa USPMJOUFSNJUFOUF $MBWBSDPOQBTBEBTDPSUBT GSPOUBM % DPOUSPM EFM MJNQJB Z MBWBQBSBCSJTBT USBTFSP 0/䳍#BSSJEPJOUFSNJUFOUF 00''䳍0GG MBWBSDPOQBTBEBTDPSUBT USBTFSP -JNQJBQBSBCSJTBT EFMBOUFSP 'VODJPOBEFMNPEPTJHVJFOUFDVBOEPFM JOUFSSVQUPSEFFODFOEJEPFTU䜫BDUJWBEP )* 7FMPDJEBES䜫QJEBEFMMJNa QJBQBSBCSJTBT -0 7FMPDJEBEOPSNBMEFMMJNa QJBQBSBCSJTBT */5 MMJNQJBQBSBCSJTBTPQFSB EFGPSNBJOUFSNJUFOUFB MPTNJTNPTJOUFSWBMPTEF TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 178. CBSSJEP6TFFTUFNPEP QBSBQPDBMMVWJBPOJFCMB 1BSBNPEJGJDBSFMBKVTUFEF WFMPDJEBE HJSFFMNBOEP EFDPOUSPMEFWFMPDJEBE 00'' MMJNQJBQBSBCSJTBTOPFTa U䜫FOGVODJPOBNJFOUP 9 1BSBVOBTPMBQBTBEB DPa MPRVFMBQBMBODBFOFTUB QPTJDJ䜽OZTV䜳MUFMB-PT MJNQJBQBSBCSJTBTGVODJPOBa S䜫ODPOUJOVBNFOUFTJMB QBMBODBTFNBOUJFOFFO FTUBQPTJDJ䜽O / /05 ODBTPEFVOBHSBOBDVNVMBDJ䜽OEF OJFWF P IJFMP FO FM QBSBCSJTBT EFTa DPOHFMF FM QBSBCSJTBT EVSBOUF NJOVUPTPIBTUBRVFEFTBQBSF[a DBO MB OJFWF ZP FM IJFMP BOUFT EF VTBS MPT MJNQJBQBSBCSJTBT QBSB BTFa HVSBSTF EF RVF GVODJPOBO DPSSFDUBa NFOUF 4J OP FMJNJOB MB OJFWF ZP FM IJFMPBOUFTEFVTBSFMMJNQJBQBSBCSJa TBTZFMMBWBQBSBCSJTBT QPES䜷BEB䜻BS $POUJO䝄B $POUJO䝄B FM TJTUFNB EFM MJNQJBQBSBCSJTBT Z FM MBWBQBSBCSJTBT -BWBQBSBCSJTBT EFMBOUFSP OMBQPTJDJ䜽O0 0GG UJSFMJHFSBNFOUF EFMBQBMBODBIBDJBVTUFEQBSBQVMWFSJa [BS M䜷RVJEP TPCSF FM QBSBCSJTBT Z QBSB BDUJWBS CBSSJEPT EFM MJNQJBQBSBCSJa TBT 6UJMJDF FTUB GVODJ䜽O DVBOEP FM QBSBCSJa TBTFTU䜳TVDJP -B PQFSBDJ䜽O EFM QVMWFSJ[BEPS Z FM MJNa QJBQBSBCSJTBT DPOUJOVBS䜫 IBTUB RVF TVFMUFMBQBMBODB 4J FM MBWBQBSBCSJTBT OP GVODJPOB DPNa QSVFCFFMOJWFMEFM䜷RVJEPMJNQJBQBSBCSJa TBT4JFMOJWFMEFMM䜷RVJEPOPFTTVGJDJFOa UF OFDFTJUBS䜫B䜻BEJSFMM䜷RVJEPMJNQJBQBa SBCSJTBTBEFDVBEPBMEFQ䜽TJUPEFMMBWBa QBSBCSJTBT -B CPDB EF MMFOBEP EFM EFQ䜽TJUP FTU䜫 VCJDBEBFOFMDPNQBSUJNFOUPEFMNPUPS EFMMBEPEFMBDPNQB䜻BOUF 5/$*䜝/ 1BSB FWJUBS QPTJCMFT EB䜻PT FO MB CPNCB EF BHVB OP BDDJPOF FM MBWBa QBSBCSJTBTDVBOEPFMEFQ䜽TJUPEFMM䜷a RVJEPFTU䜳WBD䜷P %735/$* /P VUJMJDF FM MBWBQBSBCSJTBT FO UFNa QFSBUVSBT EF DPOHFMBDJ䜽O TJO DBMFOa UBS QSJNFSP FM QBSBCSJTBT DPO FM EFa TFNQB䜻BEPS MB TPMVDJ䜽O EFM MBWBQBa SBCSJTBT QPES䜷B DPOHFMBSTF FO DPOa UBDUPDPOFMQBSBCSJTBTZEJGJDVMUBSMB WJTJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 179. 5/$*䜝/ 䳜 1BSB FWJUBSQPTJCMFT EB䜻PT FO FM MJNQJBQBSBCSJTBT P FO FM QBSBCSJa TBT OP BDDJPOF MPT MJNQJBQBSBCSJa TBTDVBOEPFMQBSBCSJTBTFTU䜳TFDP 䳜 1BSBFWJUBSEB䜻PTFOMBTFTDPCJMMBT OP VUJMJDF HBTPMJOB RVFSPTFOP EJa TPMWFOUFTEFQJOUVSBOJPUSPTEJTPMa WFOUFTDFSDBEFFTUBT 䳜 1BSBFWJUBSEB䜻PTFOMPTCSB[PTEF MJNQJBQBSBCSJTBT Z FO PUSPT DPNa QPOFOUFT OPJOUFOUFNPWFSFMMJNa QJBQBSBCSJTBTNBOVBMNFOUF 䳜 1BSB FWJUBS QPTJCMFT EB䜻PT FO FM TJTUFNB EFM MJNQJBQBSBCSJTBT Z FM MBWBQBSBCSJTBT VTFM䜷RVJEPTMJNQJBa QBSBCSJTBT DPO BOUJDPOHFMBOUF FO JOWJFSOPPFOUFNQFSBUVSBTGS䜷BT #PRVJMMBU䜳SNJDBEFM MBWBQBSBCSJTBT TJFTU䜫 FRVJQBEP -BGVODJ䜽OEFMBCPRVJMMBU䜳SNJDBEFMMBa WBQBSBCSJTBT EFTDPOHFMB MBT CPRVJMMBT EFM MBWBQBSBCSJTBT B UFNQFSBUVSBT EF DPOHFMBDJ䜽O -B CPRVJMMB U䜳SNJDB EFM MBWBQBSBCSJTBT TFFODFOEFS䜫ZTFBQBHBS䜫BVUPN䜫UJDBa NFOUFDVBOEPFMJOUFSSVQUPSEFFODFOa EJEP FTU䜳 BDUJWBEP P DVBOEP FM NPUPS FTU䜳 FO NBSDIB FO MBT DPOEJDJPOFT TJa HVJFOUFT 4F FODJFOEF DVBOEP MB UFNQFSBUVSB FYUFSJPSFTU䜫QPSEFCBKPEFMPT䛺$Z TFBQBHBDVBOEPFTU䜫QPSFODJNBEF MPT䛺$ -BWFMPDJEBEEFEFTDPOHFMBDJ䜽OEFMM䜷a RVJEP MBWBQBSBCSJTBT QPES䜷B TFS N䜫T MFOUB DVBOEP FM FODFOEJEP FTU䜫 BDUJa WBEP RVF DVBOEP FM NPUPS FTU䜫 FO GVODJPOBNJFOUP $VBOEP FM FODFOEJEP FTU䜫 BDUJWBEP EFTQV䜳TEFNJOVUPTEFGVODJPOBa NJFOUP FM TJTUFNB TF BQBHBS䜫 BVUPa N䜫UJDBNFOUF QBSB FWJUBS MB QPTJCMF EFTDBSHBEFMBCBUFS䜷B %FTQV䜳TEFRVFFMNPUPSFTU䜳FOGVOa DJPOBNJFOUP FMM䜷RVJEPMBWBQBSBCSJTBT TF EFTDPOHFMBS䜫 USBOTDVSSJEPT FOUSF ZNJOVUPT 4JFMNPUPSTFIBBSSBODBEPFOFMJOa UFSWBMPEFMBUFNQFSBUVSBEFGVODJPa OBNJFOUP MBCPRVJMMBU䜳SNJDBQFSNBa OFDF BDUJWBEB JODMVTP EFTQV䜳T EF NJOVUPT /05 OMBTDPOEJDJPOFTTJHVJFOUFT MBCPa RVJMMBU䜳SNJDBEFMMBWBQBSBCSJTBTQPa ES䜷BOPGVODJPOBSBEFDVBEBNFOUF MM䜷RVJEPMBWBQBSBCSJTBTEFMEFQ䜽a TJUPEFMMBWBQBSBCSJTBTFTU䜫DPOHFa MBEP MTFOTPSEFMBUFNQFSBUVSBFYUFa SJPSFTU䜫BWFSJBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 180. * *OUFSSVQUPSEFMMJNQJBZ MBWBQBSBCSJTBTEFMBMVOBUSBTFSB TJFTU䜫FRVJQBEP M JOUFSSVQUPS EFMMJNQJB Z MBWBQBSBCSJa TBTEFMBMVOBUSBTFSBFTU䜫DPMPDBEPFO FMFYUSFNPEFMBQBMBODBEFMJOUFSSVQUPS EFM MJNQJB Z MBWBQBSBCSJTBT $PMPRVF FM JOUFSSVQUPSFOMBQPTJDJ䜽OEFTFBEBQBSB BDDJPOBSFMMJNQJBZFMMBWBQBSBCSJTBT -BWBQBSBCSJTBTEFMBMVOBUSBTFSB #BSSJEPJOUFSNJUFOUF MMJNQJBQBSBCSJTBTOPFTU䜫FOGVOa DJPOBNJFOUP (JSFFMJOUFSSVQUPSEFMBQBMBODBEFMMJNa QJBQBSBCSJTBTEPTWFDFTIBDJBBSSJCBQBa SBSPDJBSM䜷RVJEPMBWBQBSBCSJTBTFOMBMVa OB USBTFSB Z BDUJWBS MPT MJNQJBQBSBCSJa TBTUSBTFSPTFOUSFZDJDMPT-BPQFa SBDJ䜽OEFMQVMWFSJ[BEPSZFMMJNQJBQBSBa CSJTBT DPOUJOVBS䜫 IBTUB RVF TVFMUF MB QBMBODB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 181. - -6;*/53*03 5/$*䜝/ /P VTF MBTMVDFT JOUFSJPSFT EVSBOUF MBSHPTQFSJPEPTEFUJFNQPDVBOEPFM NPUPSOPFTU䜳GVODJPOBOEP 1VFEFQSPWPDBSMBEFTDBSHBEFMBCBa UFS䜷B %735/$* /PVTFMBTMVDFTJOUFSJPSFTBMDPOEVa DJSFOMBPTDVSJEBE-BTMVDFTJOUFSJPa SFTQPES䜷BOQFSKVEJDBSMBWJTJCJMJEBEZ DBVTBSVOBDDJEFOUF -V[EFMFDUVSBMV[EFMIBCJU䜫DVMP TJFTU䜫FRVJQBEP 䳜 1VMTFMBTMVDFTQBSBFOa DFOEFSZBQBHBSMBTMVa DFTEFMFDUVSBEFMBOUFa SBT 䳜 -BMV[EFMFDUVSBZMB MV[ EFM IBCJU䜫DVMP TF FODJFOEFO BM BCSJS VOBQVFSUB-BTMVDFT TFBQBHBOBMUSBOTDVa SSJS TFHVOEPT BQSPYJNBEBNFOUF -BMV[EFMFDUVSBZMB MV[ EFM IBCJU䜫DVMP TF FODJFOEFO EVSBOUF VOPT TFHVOEPT BM EFTCMPRVFBSMBTQVFSa UBTDPOFMUSBOTNJTPS P MB MMBWF JOUFMJHFOUF NJFOUSBT OP TF BCSB OJOHVOBQVFSUB -BMV[EFMFDUVSBZMB MV[ EFM IBCJU䜫DVMP QFSNBOFDFO FODFOEJa EBT EVSBOUF NJOVUPT BQSPYJa NBEBNFOUF BM BCSJS VOB QVFSUB DPO FM JOa UFSSVQUPSEFFODFOEJa EPFOMBQPTJDJ䜽O$$ P-0$,0'' $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 182. -BMV[EFMFDUVSBZMB MV[ EFM IBCJU䜫DVMPTF JMVNJOBO DPOUJOVBa NFOUFTJTFBCSFVOB QVFSUB DPO FM JOUFa SSVQUPS EF FODFOEJEP FOMBQPTJDJ䜽O0/ -BMV[EFMFDUVSBZMB MV[ EFM IBCJU䜫DVMP TF BQBHBO JONFEJBUBa NFOUF TJ FM JOUFSSVQa UPS EF FODFOEJEP TF DBNCJB B MB QPTJDJ䜽O 0/ P TJ TF CMPRVFBO UPEBTMBTQVFSUBT 1BSB BQBHBS FM NPEP %003 1635 QVMa TF EF OVFWP FM CPU䜽O %003 1635 OPQVMTBEP / /05 MNPEP%003 163a 5 Z FM NPEP 300. )#*5䜋$6-0 OPQVFa EFO TFMFDDJPOBSTF BM NJTNPUJFNQP 䳜 1VMTFFTUFJOUFSSVQUPS QBSBFODFOEFSMBTMVDFT EFMFDUVSBEFMBOUFSBT 䳜 1VMTFFTUFJOUFSSVQUPS QBSBBQBHBSMBTMVDFTEF MFDUVSBEFMBOUFSBT -V[EFMNBMFUFSP TJFTU䜫 FRVJQBEP -BMV[EFMNBMFUFSPTFFODJFOEFDVBOEP TFBCSFFMQPSU䜽OUSBTFSP 5/$*䜝/ -BMV[EFMNBMFUFSPTFFODJFOEFVOB WF[ RVF TF BCSF FM QPSU䜽O USBTFSP 1BSBFWJUBSVOBEFTDBSHBJOOFDFTBSJB EFMTJTUFNB DJFSSBFMQPSU䜽OUSBTFSP EFGPSNBTFHVSBEFTQV䜳TEFVUJMJ[BS FMNBMFUFSP -V[EFMFTQFKPEFDPSUFT䜷B TJ FTU䜫FRVJQBEP MBCSJSMBUBQBEFMFTQFKPEFDPSUFT䜷B MB MV[ EFM NJTNP TF FODFOEFS䜫 BVUPN䜫UJa DBNFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 183. 5/$*䜝/ -V[ EFMFTQFKP EF DPSUFT䜷B TJ FTU䜫FRVJQBEP $JFSSF MB DVCJFSUB EFM FTQFKP EF DPSa UFT䜷BZWVFMWBBDPMPDBSFMQBSBTPMFO TVQPTJDJ䜽OPSJHJOBMUSBTTVVTP4JFM FTQFKP EF DPSUFT䜷B OP FTU䜫 CJFO DFa SSBEP MBMV[TFHVJS䜫JMVNJOBEBZQPa ES䜷B QSPEVDJSTF VOB EFTDBSHB EF MB CBUFS䜷BZEB䜻BSFMQBSBTPM $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 184. % %4.1䜛%03 5/$*䜝/ 1BSBFWJUBSEB䜻PTFOMPTDPOEVDUPSFT VOJEPT B MBTVQFSGJDJF JOUFSJPS EF MB MVOB USBTFSB OVODB VTF JOTUSVNFOa UPTQVOUJBHVEPTPMJNQJBEPSFTBCSBa TJWPTQBSBMJNQJBSMBMVOB /05 4J EFTFB EFTDPOHFMBS Z EFTFNQB䜻BS FM QBSBCSJTBT DPOTVMUF 䳖%FTDPOHFMBS Z EFTFNQB䜻BS FM QBSBCSJTBT䳗 FO MB Q䜫HJOB %FTFNQB䜻BEPSEFMBMVOB USBTFSB MEFTFNQB䜻BEPSDBMJFOUBMBMVOBUSBTFa SB QBSB FMJNJOBS MB FTDBSDIB MB OJFCMB VOBDBQBGJOBEFIJFMPEFMBMVOBUSBTFSB DVBOEPFMNPUPSFTU䜫FODFOEJEP 1BSBBDUJWBSFMEFTFNQB䜻BEPSEFMBMVOB USBTFSB QVMTFFMCPU䜽OEFMEFTFNQB䜻Ba EPSEFMBMVOBUSBTFSB M JOEJDBEPS EFM CPU䜽O EFM EFTFNQB䜻Ba EPSEFMBMVOBUSBTFSBTFJMVNJOBDVBOEP FMEFTFNQB䜻BEPSFTU䜫FO0/ 4J IBZ VOB HSBO BDVNVMBDJ䜽O EF OJFWF FOMBMVOBUSBTFSB FMJN䜷OFMBDPOVODFa QJMMPBOUFTEFBDDJPOBSFMEFTFNQB䜻BEPS USBTFSP MEFTFNQB䜻BEPSEFMBMVOBUSBTFSBTF BQBHB BVUPN䜫UJDBNFOUF EFTQV䜳T EF VOPTNJOVUPTPDVBOEPFMJOUFSSVQa UPSEFFODFOEJEPTFBQBHB1BSBBQBHBS FMEFTFNQB䜻BEPS WVFMWBBQVMTBSFMCPa U䜽OEFMEFTFNQB䜻BEPSEFMBMVOBUSBTFa SB %FTFNQB䜻BEPSEFMSFUSPWJTPS FYUFSJPS TJFTU䜫FRVJQBEP 4J TV WFI䜷DVMP FTU䜫 FRVJQBEP DPO EFa TFNQB䜻BEPS FO MPT SFUSPWJTPSFT FYUFa SJPSFT 䜳TUF TF BDUJWB BM NJTNP UJFNQP RVFTFBDUJWBFMEFTFNQB䜻BEPSEFMBMVa OBUSBTFSB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 185. 4 4*45.%$0/530-./6-%-$-*.5*;%03 4*45䜋26*1%0 .BOEPEF DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPS 4FMFDUPSEFNPEP .BOEPEFDPOUSPMEFUFNQFSBUVSB #PU䜽OEFMBJSFBDPOEJDJPOBEP TJFTa U䜫FRVJQBEP #PU䜽OEFMEFTFNQB䜻BEPSEFMBMVOB USBTFSB #PU䜽OEFDPOUSPMEFMBBENJTJ䜽OEF BJSF 5/$*䜝/ DDJPOBS FM WFOUJMBEPS DPO FM JOUFa SSVQUPS EF FODFOEJEP FO MB QPTJDJ䜽O 0/QPES䜷BQSPWPDBSMBEFTDBSHBEFMB CBUFS䜷B 0QFSF FM WFOUJMBEPS DPO FM NPUPSFONBSDIB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 186. $ $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEP SSBORVFFMNPUPS KVTUFFMNPEPBMBQPTJDJ䜽OEFTFBa EB 1BSB NFKPSBS MB FGFDUJWJEBE EF MB DBMFGBDDJ䜽OZMBSFGSJHFSBDJ䜽O $BMFGBDDJ䜽O 3FGSJHFSBDJ䜽O KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB 4J EFTFB FM BJSF BDPOEJDJPOBEP FOa DJFOEBFMTJTUFNBEFMBJSFBDPOEJDJPa OBEP TJFTU䜫FRVJQBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 187. 4 4FMFDDJ䜽OEFNPEP MNBOEPEFTFMFDDJ䜽OEFNPEPDPOUSPMB MBEJSFDDJ䜽OEFMBJSFBUSBW䜳TEFMTJTUFNB EFWFOUJMBDJ䜽O 1VFEF EJSJHJS FMBJSF IBDJB FM TVFMP MBT TBMJEBTEFMTBMQJDBEFSPPIBDJBFMQBSBa CSJTBT 4F VUJMJ[BO DJODP T䜷NCPMPT QBSB SFQSFTFOUBSMBTQPTJDJPOFTEFMBJSFDBSB EPTOJWFMFT TVFMP TVFMPZEFTIJFMP EFTa IJFMP /JWFMEFMBDBSB # % MGMVKPEFBJSFTFEJSJHFEJSFDUBNFOUFB MB QBSUF TVQFSJPS EFM DVFSQP Z MB DBSB EFN䜫T TFQVFEFDPOUSPMBSDBEBEJGVa TPSEFTBMJEBQBSBEJSJHJSFMBJSFEFTDBSa HBEPQPSMPTNJTNPT %PTOJWFMFT # % $ MGMVKPEFBJSFTFEJSJHFEJSFDUBNFOUFB MBDBSBZFMTVFMP /JWFMEFMTVFMP $ % -BNBZPSQBSUFEFMBJSFTFEJSJHFIBDJB FMTVFMPZVOBDBOUJEBENFOPSTFEJSJHF IBDJB FM QBSBCSJTBT Z IBDJB MPT EFTFNa QB䜻BEPSFTEFMBTWFOUBOBTMBUFSBMFT /JWFMEFMTVFMPEFTIJFMP $ % .JFOUSBTMBNBZPSQBSUFEFMBJSFTFEJSJa HFIBDJBFMTVFMPZIBDJBFMQBSBCSJTBT VOBDBOUJEBENFOPSTFEJSJHFIBDJBMPT EFTFNQB䜻BEPSFT EF MBT WFOUBOBT MBUFa SBMFT /JWFMEFEFTIJFMP % -BNBZPSQBSUFEFMBJSFTFEJSJHFIBDJB FM QBSBCSJTBTZVOBDBOUJEBENFOPSTF EJSJHFIBDJBMPTEFTFNQB䜻BEPSFTEFMBT WFOUBOBTMBUFSBMFT %JGVTPSFTFOFMQBOFMEFJOTUSVNFOUPT -PTEJGVTPSFTEFTBMJEBQVFEFOBCSJSTFP DFSSBSTFQPSTFQBSBEPVUJMJ[BOEPMBSVFa EFDJMMB1BSBDFSSBSMBWFOUJMBDJ䜽O H䜷SFMB IBDJBBCBKPIBTUBMBQPTJDJ䜽ON䜫YJNB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 188. 5BNCJ䜳O TF QVFEFBKVTUBS MB EJSFDDJ䜽O EFMBJSFEFTEFFTUPTEJGVTPSFTFNQMFBOa EPMBQBMBODBEFDPOUSPMEFMEJGVTPS UBM ZDPNPTFJOEJDB $ $POUSPMEFUFNQFSBUVSB M NBOEP EF DPOUSPM EF UFNQFSBUVSB QFSNJUF DPOUSPMBS MB UFNQFSBUVSB EFM BJSFRVFGMVZFQPSFMTJTUFNBEFWFOUJMBa DJ䜽O 1BSB DBNCJBS MB UFNQFSBUVSB EFM BJSFFOFMDPNQBSUJNFOUPEFQBTBKFSPT HJSFFMNBOEPBMBQPTJDJ䜽OEFSFDIBQBSB DBMFOUBS FM BJSF Z IBDJB MB QPTJDJ䜽O J[a RVJFSEBQBSBFOGSJBSMP $POUSPMEFMBFOUSBEBEFBJSF M DPOUSPM EF UPNB EF BJSF TF FNQMFB QBSB TFMFDDJPOBS MB QPTJDJ䜽O EFM BJSF GSFTDP FYUFSJPS P MB QPTJDJ䜽O EFM BJSF SFDJSDVMBEP 1BSB DBNCJBS MB QPTJDJ䜽O EF DPOUSPM EF MB BENJTJ䜽O EF BJSF QVMTF FM CPU䜽O EF DPOUSPM 1PTJDJ䜽OEFBJSFSFDJSDVMBEP $POMBQPTJDJ䜽OEFBJSFSFDJSDVa MBEP TFMFDDJPOBEB FM BJSF EFM DPNQBSUJNFOUP EFM BDPNQBa 䜻BOUFTFFYUSBFS䜫BUSBW䜳TEFM TJTUFNB EF DBMFGBDDJ䜽O Z TF DBMFOUBS䜫 P TF FOGSJBS䜫 EF BDVFSEP DPO MB GVODJ䜽O TFMFDa DJPOBEB 1PTJDJ䜽OEFBJSF GSFTDP FYUFSJPS $POMBQPTJDJ䜽OEFBJSF GSFTDP FYUFSJPS TFMFDDJPOBEB FM BJSF FYUFSJPSRVFFOUSBFOFMWFI䜷a DVMPTFDBMJFOUBPTFFOGS䜷BTFa H䝄OMBGVODJ䜽OTFMFDDJPOBEB /05 M GVODJPOBNJFOUP QSPMPOHBEP EFM DBMFGBDUPS FO MB QPTJDJ䜽O EF BJSF SFa DJSDVMBEP TJOTFMFDDJPOBSBJSFBDPOEJa DJPOBEP QVFEFIBDFSRVFFMQBSBCSJa TBTZMBTWFOUBOBTMBUFSBMFTTFFNa QB䜻FOZRVFFMBJSFRVFDJSDVMBFOFM DPNQBSUJNFOUPEFMBDPNQB䜻BOUFTF WJDJF EFN䜫T FM VTP QSPMPOHBEP EFM BJSF BDPOEJDJPOBEPDPOMBQPTJDJ䜽OEFMBJSF SFDJSDVMBEP TFMFDDJPOBEB QPES䜷B IBa DFS RVF FM BJSF TF WVFMWB NVZ TFDP FOFMDPNQBSUJNFOUPEFQBTBKFSPT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 189. %735/$* 䳜 MVTPDPOUJOVPEFMDMJNBUJ[BEPSFO MB QPTJDJ䜽OEF BJSF SFDJSDVMBEP QPa ES䜷B BVNFOUBS MB IVNFEBE EFOUSP EFMWFI䜷DVMP RVFBMBWF[FNQB䜻Ba S䜷BMPTDSJTUBMFTZSFEVDJS䜷BMBWJTJCJa MJEBE 䳜 /PEVFSNBEFOUSPEFMWFI䜷DVMPDPO FMBJSFBDPOEJDJPOBEPPDPOMBDBMFa GBDDJ䜽OFODFOEJEB1PES䜷BTVGSJSMFa TJPOFTHSBWFTPMBNVFSUFEFCJEPB VO EFTDFOTP EFM OJWFM EF PY䜷HFOP ZPEFMBUFNQFSBUVSBDPSQPSBM 䳜 MVTPDPOUJOVPEFMDMJNBUJ[BEPSFO MB QPTJDJ䜽O EF BJSF SFDJSDVMBEP QPa ES䜷BQSPWPDBSTPNOPMFODJBPTPQPS ZQPSUBOUPQ䜳SEJEBEFMDPOUSPMEFM WFI䜷DVMPKVTUFFMDPOUSPMEFMBBEa NJTJ䜽OEFBJSFBMBQPTJDJ䜽OEFBJSF GSFTDP FYUFSJPS UBOUP DPNP TFB QPTJCMFNJFOUSBTDPOEVDF $POUSPMEFWFMPDJEBEEFMWFOUJMBEPS MJOUFSSVQUPSEFFODFOEJEPEFCFFTUBS FOMBQPTJDJ䜽O0/QBSBIBDFSGVODJPOBS FMWFOUJMBEPS MNBOEPEFDPOUSPMEFMBWFMPDJEBEEFM WFOUJMBEPS QFSNJUF DPOUSPMBS MB WFMPDJa EBE EFM WFOUJMBEPS EFM BJSF RVF GMVZF EFTEF FM TJTUFNB EF WFOUJMBDJ䜽O 1BSB DBNCJBSMBWFMPDJEBEEFMWFOUJMBEPS HJSF FMNBOEPBMBEFSFDIBQBSBVOWFMPDJEBE NBZPSZIBDJBMBJ[RVJFSEBQBSBVOBWFa MPDJEBENFOPS $PMPRVFFMNBOEPEFDPOUSPMEFMBWFMPa DJEBE EFM WFOUJMBEPS FO MB QPTJDJ䜽O QBSBBQBHBSMP 1BSBSMBTUPCFSBTEFTBMJEBEFBJSF 1BSFMBTUPCFSBTEFTBMJEBEFBJSF DPMPa RVFFMNBOEPEFDPOUSPMEFMBWFMPDJEBE EFMWFOUJMBEPSBMBQPTJDJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 190. JSFBDPOEJDJPOBEP $ 1VMTFFMCPU䜽O$QBSBFODFOEFSFMTJTa UFNBEFBJSFBDPOEJDJPOBEP TFJMVNJOBa S䜫VOUFTUJHPJOEJDBEPS1VMTFFMCPU䜽O PUSBWF[QBSBBQBHBSFMTJTUFNBEFBJSF BDPOEJDJPOBEP 'VODJPOBNJFOUPEFMTJTUFNB 7FOUJMBDJ䜽O KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB $BMFGBDDJ䜽O KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB 4JEFTFBDBMPSEFTIVNJEJGJDBEP FOa DJFOEBFMTJTUFNBEFMBJSFBDPOEJDJPa OBEP TJFTU䜫FRVJQBEP 䳜 4JFMQBSBCSJTBTTFFNQB䜻B BKVTUFFM NPEPBQPTJDJ䜽O P $POTFKPTEFGVODJPOBNJFOUP 䳜 1BSB JNQFEJS RVF PMPSFT EFTBHSBEBa CMFT P QPMWP FOUSFO FO FM WFI䜷DVMP B USBW䜳T EFM TJTUFNB EF WFOUJMBDJ䜽O BKVTUF EF GPSNB UFNQPSBM FM DPOUSPM EFMBBENJTJ䜽OEFBJSFBMBQPTJDJ䜽OEF BJSF SFDJSDVMBEP TFH䝄SFTF EF WPMWFS BBKVTUBSFMDPOUSPMBMBQPTJDJ䜽OEFBJa SF GSFTDP VOB WF[ MB JSSJUBDJ䜽O IBZB QBTBEPZBT䜷NBOUFOFSFMBJSFEFMWFa I䜷DVMPGSFTDPTUPBZVEBS䜫BNBOUFa OFSBMDPOEVDUPSFOBMFSUBZD䜽NPEP 䳜 MBJSFQBSBFMTJTUFNBEFDBMFGBDDJ䜽O SFGSJHFSBDJ䜽O TF FYUSBF B USBW䜳T EF MBT SFKJMMBT TJUVBEBT KVTUP EFMBOUF EFM QBSBCSJTBTWJUFRVFFTUBTSFKJMMBTFTa U䜳OCMPRVFBEBTQPSIPKBT OJFWF IJFMP VPUSBTPCTUSVDDJPOFT 䳜 1BSB JNQFEJS RVF TF QSPEV[DB OJFCMB FOFMJOUFSJPSEFMQBSBCSJTBT BKVTUFFM DPOUSPMEFMBBENJTJ䜽OEFBJSFBMBQPa TJDJ䜽OEFBJSFGSFTDPZMBWFMPDJEBEEFM WFOUJMBEPSBMBEFTFBEB BDUJWFFMTJTa UFNB EFM BJSF BDPOEJDJPOBEP Z BKVTUF FMDPOUSPMEFUFNQFSBUVSBBMBUFNQFa SBUVSBEFTFBEB JSFBDPOEJDJPOBEP -PTTJTUFNBTEFBJSFBDPOEJDJPOBEP,JB DPOUJFOFO SFGSJHFSBOUF SFTQFUVPTP DPO FMNFEJPBNCJFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 191. SSBORVF FM NPUPS1VMTF FM CPU䜽O EFMBJSFBDPOEJDJPOBEP KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSFBMBQPTJDJ䜽OEFBJSFFYUFSJPSP SFDJSDVMBEP KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSZFMDPOUSPMEFUFNQFSBa UVSBQBSBNBOUFOFSVOBDPNPEJEBE N䜫YJNB 5/$*䜝/ 䳜 M NBOUFOJNJFOUP EFM TJTUFNB EF SFGSJHFSBOUFTPMPEFCFS䜫SFBMJ[BSTF QPS U䜳DOJDPT BVUPSJ[BEPT RVF IBa ZBO SFDJCJEP MB GPSNBDJ䜽O BEFDVBa EB DPO FM GJO EF HBSBOUJ[BS VOB PQFSBDJ䜽OBEFDVBEBZTFHVSB $POUJO䝄B FMWFI䜷DVMPTFIBMMFOBEPDPO3B P 3ZG TFH䝄O MB OPSNBUJWB FO TV QB䜷T FO FM NPNFOUP EF QSPEVDa DJ䜽O1VFEFBWFSJHVBSRV䜳SFGSJHFSBOa UFTFVUJMJ[BQBSBFMBJSFBDPOEJDJPOBa EPEFTVWFI䜷DVMPPCTFSWBOEPMBFUJa RVFUBEFMJOUFSJPSEFMDPNQBSUJNFOUP EFMNPUPS$POTVMUF䳖UJRVFUBEFSFa GSJHFSBOUF䳗FOMBQ䜫HJOB $POUJO䝄B 䳜 M NBOUFOJNJFOUP EFM TJTUFNB EF SFGSJHFSBOUF EFCFS䜫 SFBMJ[BSTF FO VOMVHBSCJFOWFOUJMBEP 䳜 MFWBQPSBEPSEFMBJSFBDPOEJDJPOBa EP CPCJOBEFFOGSJBNJFOUP OPEFa CFSFQBSBSTFOJDBNCJBSTFQPSPUSP EFTNPOUBEP EF VO WFI䜷DVMP VTBEP P EFTHVB[BEP Z MPT FWBQPSBEPSFT .$OVFWPTEFSFQVFTUPEFCFOFTa UBSDFSUJGJDBEPT ZMMFWBSMBFUJRVFa UB DPOGPSNF B MB OPSNB 4 + /05 䳜 MVUJMJ[BSFMTJTUFNBEFBJSFBDPOa EJDJPOBEP DPOUSPMF FM JOEJDBEPS EF UFNQFSBUVSB NJFOUSBT TVCF QFOa EJFOUFTPEVSBOUFMBDPOEVDDJ䜽OFO US䜫GJDP EFOTP DVBOEP MB UFNQFSBa UVSBFYUFSJPSTFBBMUBMGVODJPOBa NJFOUPEFMTJTUFNBEFBJSFBDPOEJa DJPOBEP QPES䜷B QSPWPDBS TPCSFDBa MFOUBNJFOUPFOFMNPUPS4JHBVUJMJa [BOEPFMWFOUJMBEPSQFSPBQBHVFFM BJSF BDPOEJDJPOBEP TJ FM JOEJDBEPS EFUFNQFSBUVSBNVFTUSBTPCSFDBa MFOUBNJFOUP 䳜 4JBMBCSJSMBWFOUBOBFMUJFNQPFT I䝄NFEP FMBJSFBDPOEJDJPOBEPQPa ES䜷BDSFBSHPUJUBTEFOUSPEFMWFI䜷a DVMP 6O FYDFTP EF HPUBT EF BHVB QPES䜷B EB䜻BS FM FRVJQP FM䜳DUSJDP QPS FMMP FM BJSF BDPOEJDJPOBEP EFa CFS䜫GVODJPOBST䜽MPDPOMBTWFOUBa OJMMBTDFSSBEBT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 192. $ $POTFKPTQBSBFMGVODJPOBNJFOUPEFMBJa SFBDPOEJDJPOBEP 䳜 4JTFIBBQBSDBEPFMWFI䜷DVMPEJSFDUBa NFOUFCBKPMBMV[EFMTPMDPOUFNQFa SBUVSBT BMUBT BCSB MBT WFOUBOBT EVa SBOUFVOSBUPQBSBRVFFMBJSFDBMJFOUF EFOUSPEFMWFI䜷DVMPEFTBQBSF[DB 䳜 1BSBSFEVDJSMBIVNFEBEFOMBTWFOUBa OBTFOE䜷BTI䝄NFEPTPMMVWJPTPT EJTa NJOVZB MB IVNFEBE EFOUSP EFM WFI䜷a DVMPFODFOEJFOEPFMBJSFBDPOEJDJPOBa EP 䳜 %VSBOUF FM GVODJPOBNJFOUP EFM BJSF BDPOEJDJPOBEP QPES䜷BOPUBSEFWF[FO DVBOEPVOMJHFSPDBNCJPFOMBWFMPDJa EBEEFMNPUPSEFCJEPBMPTDJDMPTEFM DPNQSFTPSEFMBJSFBDPOEJDJPOBEPTa UB FT VOB DBSBDUFS䜷TUJDB OPSNBM EFM GVODJPOBNJFOUPEFMTJTUFNB 䳜 1BSBHBSBOUJ[BSFMN䜫YJNPSFOEJNJFOa UPEFMTJTUFNB FODJFOEBFMBJSFBDPOa EJDJPOBEPDBEBNFTEVSBOUFVOPTNJa OVUPT 䳜 $VBOEP VUJMJDF FM TJTUFNB EF BJSF BDPOEJDJPOBEP QVFEF OPUBS HPUBT P JODMVTPVOQFRVF䜻PDIBSDP EFCBKPEFM WFI䜷DVMPFOFMMBEPEFMBDPNQB䜻BOUF TUBFTVOBDBSBDUFS䜷TUJDBOPSNBMEFM GVODJPOBNJFOUPEFMTJTUFNB 䳜 MGVODJPOBNJFOUPEFMTJTUFNBEFBJSF BDPOEJDJPOBEP FO MB QPTJDJ䜽O EF BJSF SFDJSDVMBEP PGSFDF VOB SFGSJHFSBDJ䜽O N䜫YJNB OP PCTUBOUF FM GVODJPOBa NJFOUPDPOUJOVPFOFTUFNPEPQVFEF QSPWPDBS RVF FM BJSF EFM JOUFSJPS EFM WFI䜷DVMPTFWJDJF 䳜 %VSBOUFMBPQFSBDJ䜽OEFSFGSJHFSBDJ䜽O PDBTJPOBMNFOUFQVFEFOPUBSRVFTBMF VO BJSF OFCMJOPTP EFCJEP BM FOGSJBa NJFOUPS䜫QJEPZBMBBENJTJ䜽OEFBJSF I䝄NFEP TUB FT VOB DBSBDUFS䜷TUJDB OPSNBM EFM GVODJPOBNJFOUP EFM TJTUFa NB 'JMUSPEFBJSFEFMDPOUSPMEFM DMJNBUJ[BEPS TJFTU䜫FRVJQBEP BJSFFYUFSJPS #BJSFSFDJSDVMBEP $GJMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[Ba EPS %WFOUJMBEPS O䝄DMFPEFMFWBQPSBEPS 'O䝄DMFPEFMDBMFGBDUPS MGJMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[Ba EPS EFM WFI䜷DVMP JOTUBMBEP EFUS䜫T EF MB HVBOUFSBGJMUSBFMQPMWPVPUSPTBHFOUFT DPOUBNJOBOUFT QSPDFEFOUFT EFM FYUFa SJPSRVFBDDFEFOBMJOUFSJPSEFMWFI䜷DVMP BUSBW䜳TEFMTJTUFNBEFMBJSFBDPOEJDJPa OBEPPEFMDBMFGBDUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 193. 4J FTUBT TVTUBODJBTTF BDVNVMBO FO FM GJMUSPEVSBOUFVOMBSHPQFS䜷PEPEFUJFNa QP MBDBOUJEBEEFBJSFEFMPTEJGVTPSFT QVFEF EJTNJOVJS MP DVBM QSPWPDBS䜷B IVa NFEBEFYDFTJWBFOFMJOUFSJPSEFMQBSBa CSJTBT JODMVTPTFMFDDJPOBOEPMBQPTJDJ䜽O EFBJSF GSFTDP FYUFSJPS4JPDVSSFFTUP TPMJDJUF FM SFFNQMB[P EFM GJMUSP EF BJSF EFM DPOUSPM EFM DMJNBUJ[BEP FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP / /05 䳜 $BNCJFFMGJMUSPTFH䝄OFMDBMFOEBSJP EFNBOUFOJNJFOUP 4JDPOEVDFCBKPDPOEJDJPOFTBEWFSa TBT DPNP DBSSFUFSBT QPMWPSJFOUBT P BCSVQUBT OFDFTJUBS䜫 SFBMJ[BS DBNCJPT Z DPNQSPCBDJPOFT N䜫T GSFDVFOUFTEFMGJMUSPEFMBJSFBDPOa EJDJPOBEP 䳜 4JFM䜷OEJDFEFGMVKPEFBJSFEFTDJFOa EF SFQFOUJOBNFOUF TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP UJRVFUBEFMSFGSJHFSBOUFEFM BJSFBDPOEJDJPOBEP 䙓 -B FUJRVFUB BDUVBM EFM SFGSJHFSBOUF EFMBJSFBDPOEJDJPOBEPQPES䜷BEJGFSJS EFMBJNBHFO -PT T䜷NCPMPT Z FTQFDJGJDBDJPOFT FO MB FUJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOa EJDJPOBEP UJFOFO FM TJHOJGJDBEP TJHVJFOa UF $MBTJGJDBDJ䜽OEFMSFGSJHFSBOUF $BOUJEBEEFSFGSJHFSBOUF $MBTJGJDBDJ䜽OEFMMVCSJDBOUFEFMDPNa QSFTPS 1VFEF BWFSJHVBS RV䜳 SFGSJHFSBOUF TF VUJMJ[BQBSBFMBJSFBDPOEJDJPOBEPEFTV WFI䜷DVMP PCTFSWBOEP MB FUJRVFUB EFM JOa UFSJPSEFMIBCJU䜫DVMP $POTVMUF 䳖UJRVFUB EF SFGSJHFSBOUF䳗 FO MBQ䜫HJOB $PNQSPCBDJ䜽OEFMBDBOUJEBEEF SFGSJHFSBOUFEFMBJSF BDPOEJDJPOBEPZEFMVCSJDBOUF EFMDPNQSFTPS $VBOEPFMOJWFMEFSFGSJHFSBOUFTFBCBKP FMSFOEJNJFOUPEFMBJSFBDPOEJDJPOBEPTF SFEVDF6OMMFOBEPFYDFTJWPUBNCJ䜳OJOa GMVZFOFHBUJWBNFOUFFMTJTUFNBEFMBJSF BDPOEJDJPOBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 194. 1PSMPUBOUP TJOPUBVOGVODJPOBNJFOUP BO䜽NBMP TPMJDJUFMBJOTQFDDJ䜽OEFMTJTUFa NBFOVOUBMMFSQSPGFTJPOBM ,JBSFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* 7FI䜷DVMPT FRVJQBEPT DPO 3B %BEPRVFFMSFGSJHFSBOUF FTU䜫BVOBQSFTJ䜽ONVZ BMUB FMNBOUFOJNJFOUP EFMTJTUFNBEFBJSFBDPOa EJDJPOBEPTPMPEFCFS䜫 SFBMJ[BSTFQPSU䜳DOJDPT BVUPSJ[BEPTRVFIBZBO SFDJCJEPMBGPSNBDJ䜽OBEFa DVBEBTJNQPSUBOUFVUJa MJ[BSMBDBOUJEBEZFMUJQP DPSSFDUPTEFBDFJUFZSFa GSJHFSBOUF %F MP DPOUSBSJP QPES䜷B DBVTBS MFTJPa OFTZEB䜻PTFOFMWFI䜷DVMP %735/$* 7FI䜷DVMPT FRVJQBEPT DPO 3ZG %BEPRVFFMSFGSJHFSBOUF FTMJHFSBNFOUFJOGMBNBCMF ZFTU䜫BVOBQSFTJ䜽ONVZ BMUB FMNBOUFOJNJFOUP EFMTJTUFNBEFBJSFBDPOa EJDJPOBEPTPMPEFCFS䜫 SFBMJ[BSTFQPSU䜳DOJDPT BVUPSJ[BEPTRVFIBZBO SFDJCJEPMBGPSNBDJ䜽OBEFa DVBEBTJNQPSUBOUFVUJa MJ[BSMBDBOUJEBEZFMUJQP DPSSFDUPTEFBDFJUFZSFa GSJHFSBOUF %F MP DPOUSBSJP QPES䜷B DBVTBS MFTJPa OFTZEB䜻PTFOFMWFI䜷DVMP MWFI䜷DVMPTFIBMMFOBEPDPO3BP 3ZG TFH䝄O MB OPSNBUJWB FO TV QB䜷T FO FM NPNFOUP EF QSPEVDDJ䜽O 1VFEFBWFSJHVBSRV䜳SFGSJHFSBOUFTF VUJMJ[B QBSB FM BJSF BDPOEJDJPOBEP EF TV WFI䜷DVMP PCTFSWBOEP MB FUJRVFUB EFM JOUFSJPS EFM DPNQBSUJNFOUP EFM NPUPS$POTVMUF䳖UJRVFUBEFSFGSJHFa SBOUF䳗FOMBQ䜫HJOB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 195. 4 4*45.%$0/530-%-$-*.5*;%03650.䜋5*$0 4*45䜋26*1%0 .BOEPEFDPOUSPMEFUFNQFSBUVSB #PU䜽O650 DPOUSPMBVUPN䜫UJDP 1BOUBMMBEFDPOUSPMEFMDMJNBUJ[BEPS .BOEP EF DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPS #PU䜽O0'' #PU䜽O EFM EFTFNQB䜻BEPS EFM QBSBa CSJTBTEFMBOUFSP #PU䜽OEFMEFTFNQB䜻BEPSEFMBMVOB USBTFSB #PU䜽OEFTFMFDDJ䜽OEFNPEP #PU䜽OEFMBJSFBDPOEJDJPOBEP TJFTa U䜫FRVJQBEP #PU䜽OEFDPOUSPMEFMBBENJTJ䜽OEF BJSF 5/$*䜝/ DDJPOBS FM WFOUJMBEPS DPO FM JOUFa SSVQUPS EF FODFOEJEP FO MB QPTJDJ䜽O 0/QPES䜷BQSPWPDBSMBEFTDBSHBEFMB CBUFS䜷B 0QFSF FM WFOUJMBEPS DPO FM NPUPSFONBSDIB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 196. $ $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEP BVUPN䜫UJDPT 1VMTF FMCPU䜽O 650 -PT NPEPT MBTWFMPDJEBEFTEFMWFOUJMBEPS MBUPa NB EF BJSF Z FM BJSF BDPOEJDJPOBEP TF DPOUSPMBO BVUPN䜫UJDBNFOUF TFa H䝄OFMBKVTUFEFUFNQFSBUVSB KVTUF FM NBOEP EF DPOUSPM EF MB UFNQFSBUVSBQBSBEFGJOJSMBUFNQFa SBUVSBRVFEFTFB /05 䳜 1BSBEFTBDUJWBSFMGVODJPOBNJFOa UPBVUPN䜫UJDP TFMFDDJPOFVOPEF FTUPTCPUPOFTPJOUFSSVQUPSFT #PU䜽OEFTFMFDDJ䜽OEFNPEP #PU䜽OEFBJSFBDPOEJDJPOBEP $POUJO䝄B $POUJO䝄B #PU䜽O EFM EFTFNQB䜻BEPS EFM QBSBCSJTBTEFMBOUFSP QVMTFFM CPU䜽OVOBWF[N䜫TQBSBEFTa NBSDBSMBGVODJ䜽OEFMEFTFNa QB䜻BEPSEFMQBSBCSJTBTEFMBOa UFSP-BTF䜻BM650TFFODFOa EFS䜫 FO MB QBOUBMMB EF JOGPSa NBDJ䜽OEFOVFWP #PU䜽O EF DPOUSPM EF MB BENJa TJ䜽OEFBJSF .BOEPEFDPOUSPMEFWFMPDJEBE EFMWFOUJMBEPS -B GVODJ䜽O TFMFDDJPOBEB TF DPOa USPMBS䜫 NBOVBMNFOUF NJFOUSBT PUSBTGVODJPOFTTFPQFSBOBVUPa N䜫UJDBNFOUF 䳜 1BSB NFKPSBS MB FGFDUJWJEBE EFM DPOUSPMEFMDMJNBUJ[BEPS VUJMJDFFM CPU䜽O650ZGJKFMBUFNQFSBUVa SBB䛺$ $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 197. / /05 /PDPMPRVFOJOH䝄OPCKFUPFODJNBEFM TFOTPSVCJDBEPFOFMQBOFMEFJOTUSVa NFOUPT QBSB HBSBOUJ[BSVO NFKPS DPOUSPMEFMTJTUFNBEFDBMFGBDDJ䜽OZ SFGSJHFSBDJ䜽O $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEP NBOVBMFT M TJTUFNB EF DBMFGBDDJ䜽O Z SFGSJHFSBa DJ䜽O TF QVFEF DPOUSPMBS EF GPSNB NBa OVBM QVMTBOEP FM SFTUP EF MPT CPUPOFT FYDFQUPFMCPU䜽O650OFTUFDBTP FM TJTUFNB GVODJPOB EF GPSNB TFDVFODJBM TFH䝄OFMPSEFOEFMPTCPUPOFTTFMFDDJPa OBEPT M QVMTBS VO CPU䜽O P HJSBS VO NBOEP FYDFQUPFMCPU䜽O650EVSBOUFMBVUJMJa [BDJ䜽O EF MB PQFSBDJ䜽O BVUPN䜫UJDB MBT GVODJPOFTOPTFMFDDJPOBEBTTFDPOUSPMBa S䜫OBVUPN䜫UJDBNFOUF SSBORVFFMNPUPS KVTUFFMNPEPBMBQPTJDJ䜽OEFTFBa EB 1BSB NFKPSBS MB FGFDUJWJEBE EF MB DBMFGBDDJ䜽OZMBSFGSJHFSBDJ䜽O $BMFGBDDJ䜽O 3FGSJHFSBDJ䜽O KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB 4J EFTFB FM BJSF BDPOEJDJPOBEP FOa DJFOEBFMTJTUFNBEFMBJSFBDPOEJDJPa OBEP 1VMTFFMCPU䜽O650QBSBQBTBSBMNPa EPEFDPOUSPMBVUPN䜫UJDPUPUBMEFMTJTa UFNB 4FMFDDJ䜽OEFNPEP MCPU䜽OEFTFMFDDJ䜽OEFNPEPDPOUSPMB MBEJSFDDJ䜽OEFGMVKPEFMBJSFBUSBW䜳TEFM TJTUFNBEFWFOUJMBDJ䜽O 4FBDUJWBOMPTEJGVTPSFTEFTBMJEBEFBJa SFDPNPTJHVF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 198. $POTVMUF MB JMVTUSBDJ䜽OEFM 䳖4JTUFNB EF DPOUSPM NBOVBM EFM DMJNBUJ[BEPS䳗 FO MB Q䜫HJOB 4 4VFMPZEFTIJFMP $ % .JFOUSBTMBNBZPSQBSUFEFMBJSFTFEJSJa HFIBDJBFMTVFMPZIBDJBFMQBSBCSJTBT VOBDBOUJEBENFOPSTFEJSJHFIBDJBMPT EFTFNQB䜻BEPSFT EF MBT WFOUBOBT MBUFa SBMFT /JWFMEFMBDBSB # % MGMVKPEFBJSFTFEJSJHFEJSFDUBNFOUFB MB QBSUF TVQFSJPS EFM DVFSQP Z MB DBSB EFN䜫T TFQVFEFDPOUSPMBSDBEBEJGVa TPSEFTBMJEBQBSBEJSJHJSFMBJSFEFTDBSa HBEPQPSMPTNJTNPT %PTOJWFMFT # % $ MGMVKPEFBJSFTFEJSJHFEJSFDUBNFOUFB MBDBSBZFMTVFMP /JWFMEFMTVFMP $ % -BNBZPSQBSUFEFMBJSFTFEJSJHFIBDJB FMTVFMPZVOBDBOUJEBENFOPSTFEJSJHF IBDJB FM QBSBCSJTBT Z IBDJB MPT EFTFNa QB䜻BEPSFTEFMBTWFOUBOBTMBUFSBMFT .PEPEFMEFTFNQB䜻BEPS 4J TFMFDDJPOB FM NPEP EFM EFTFNQB䜻Ba EPS TFSFBMJ[BS䜫OBVUPN䜫UJDBNFOUFMPT TJHVJFOUFTBKVTUFTFOFMTJTUFNB 䳜 M TJTUFNB EFM BJSF BDPOEJDJPOBEP TF FODFOEFS䜫 䳜 4F TFMFDDJPOBS䜫 MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS 䳜 -BWFMPDJEBEEFMWFOUJMBEPSTFGJKBS䜫B MBWFMPDJEBEBMUB 1BSB BQBHBS FM NPEP EFM EFTFNQB䜻Ba EPS QVMTFFMCPU䜽OEFNPEPPFMCPU䜽O EFMEFTFNQB䜻BEPSEFOVFWPPFMCPU䜽O 650 %JGVTPSFTFOFMQBOFMEFJOTUSVNFOUPT MEJGVTPSEFTBMJEBQVFEFBCSJSTFPDFa SSBSTFQPSTFQBSBEPVUJMJ[BOEPMBSVFEFa DJMMB IPSJ[POUBM 1BSB DFSSBS MB WFOUJMBa DJ䜽O H䜷SFMBIBDJBBCBKPIBTUBMBQPTJDJ䜽O N䜫YJNB1BSBBCSJSMBWFOUJMBDJ䜽O H䜷SFMB IBDJB BSSJCB IBTUB MB QPTJDJ䜽O RVF EFa TFB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 199. 5BNCJ䜳O TF QVFEFBKVTUBS MB EJSFDDJ䜽O EFMBJSFEFTEFFTUPTEJGVTPSFTFNQMFBOa EPMBQBMBODBEFDPOUSPMEFMEJGVTPS UBM ZDPNPTFJOEJDB $ $POUSPMEFUFNQFSBUVSB -B UFNQFSBUVSB BVNFOUBS䜫 BM N䜫YJNP )* HJSBOEPFMNBOEPDPNQMFUBNFOUFB MBEFSFDIB -B UFNQFSBUVSB EJTNJOVJS䜫 BM N䜷OJNP -P HJSBOEPFMNBOEPDPNQMFUBNFOUFB MBJ[RVJFSEB M HJSBS FM NBOEP MB UFNQFSBUVSB BVa NFOUBS䜫 P EJTNJOVJS䜫 FO JOUFSWBMPT EF 䛺$MDPMPDBSFMBKVTUFBMBUFNQFSBa UVSB N䜫T CBKB FM BJSF BDPOEJDJPOBEP GVODJPOBS䜫DPOUJOVBNFOUF $POWFSTJ䜽OEFMBUFNQFSBUVSB 1VFEFDBNCJBSFMNPEPEFMBUFNQFSBa UVSBFOUSFDFOU䜷HSBEPTZ'BISFOIFJUDPa NPTJHVF .JFOUSBT QVMTB FM CPU䜽O 0'' QVMTF FM CPU䜽O650EVSBOUFTFHVOEPTPN䜫T -B WJTVBMJ[BDJ䜽O DBNCJBS䜫 EF DFOU䜷HSBa EPTB'BISFOIFJUPEF'BISFOIFJUBDFOa U䜷HSBEPT 4JMBCBUFS䜷BTFIBEFTDBSHBEPPEFTDPa OFDUBEP FM NPEP EF UFNQFSBUVSB TF SFBKVTUBBDFOU䜷HSBEPT $POUSPMEFMBFOUSBEBEFBJSF TUPTFFNQMFBQBSBTFMFDDJPOBSMBQPTJa DJ䜽OEFMBJSF GSFTDP FYUFSJPSPMBQPTJa DJ䜽OEFMBJSFSFDJSDVMBEP 1BSB DBNCJBS MB QPTJDJ䜽O EF DPOUSPM EF MB BENJTJ䜽O EF BJSF QVMTF FM CPU䜽O EF DPOUSPM 1PTJDJ䜽OEFBJSFSFDJSDVMBEP $POMBQPTJDJ䜽OEFBJSFSFDJSDVa MBEP TFMFDDJPOBEB FM BJSF EFM DPNQBSUJNFOUP EFM BDPNQBa 䜻BOUFTFFYUSBFS䜫BUSBW䜳TEFM TJTUFNB EF DBMFGBDDJ䜽O Z TF DBMFOUBS䜫 P TF FOGSJBS䜫 EF BDVFSEP DPO MB GVODJ䜽O TFMFDa DJPOBEB 1PTJDJ䜽OEFBJSF GSFTDP FYUFSJPS $POMBQPTJDJ䜽OEFBJSF GSFTDP FYUFSJPS TFMFDDJPOBEB FM BJSF FYUFSJPSRVFFOUSBFOFMWFI䜷a DVMPTFDBMJFOUBPTFFOGS䜷BTFa H䝄OMBGVODJ䜽OTFMFDDJPOBEB /05 M GVODJPOBNJFOUP QSPMPOHBEP EFM DBMFGBDUPS FO MB QPTJDJ䜽O EF BJSF SFa DJSDVMBEP TJOTFMFDDJPOBSBJSFBDPOEJa $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 200. $POUJO䝄B DJPOBEP QVFEFIBDFSRVFFMQBSBCSJa TBTZMBTWFOUBOBTMBUFSBMFTTFFNa QB䜻FOZRVFFMBJSFRVFDJSDVMBFOFM DPNQBSUJNFOUPEFMBDPNQB䜻BOUFTF WJDJF EFN䜫T FM VTP QSPMPOHBEP EFM BJSF BDPOEJDJPOBEPDPOMBQPTJDJ䜽OEFMBJSF SFDJSDVMBEP TFMFDDJPOBEB QPES䜷B IBa DFS RVF FM BJSF TF WVFMWB NVZ TFDP FOFMDPNQBSUJNFOUPEFQBTBKFSPT %735/$* 䳜 MGVODJPOBNJFOUPDPOUJOVPEFMDMJa NBUJ[BEPSFOMBQPTJDJ䜽OEFBJSFSFa DJSDVMBEP QPES䜷B BVNFOUBS MB IVa NFEBEEFOUSPEFMWFI䜷DVMPRVFBMB WF[FNQB䜻BS䜷BMPTDSJTUBMFTZSFEVa DJS䜷BMBWJTJCJMJEBE 䳜 /PEVFSNBEFOUSPEFMWFI䜷DVMPDPO FMBJSFBDPOEJDJPOBEPPDPOMBDBMFa GBDDJ䜽OFODFOEJEB1PES䜷BTVGSJSMFa TJPOFTHSBWFTPMBNVFSUFEFCJEPB VO EFTDFOTP EFM OJWFM EF PY䜷HFOP ZPEFMBUFNQFSBUVSBDPSQPSBM $POUJO䝄B $POUJO䝄B 䳜 MGVODJPOBNJFOUPDPOUJOVPEFMDMJa NBUJ[BEPSFOMBQPTJDJ䜽OEFBJSFSFa DJSDVMBEP QPES䜷B QSPWPDBS TPNOPa MFODJBPTPQPS ZQPSUBOUPQ䜳SEJEB EFM DPOUSPM EFM WFI䜷DVMP KVTUF FM DPOUSPMEFMBBENJTJ䜽OEFBJSFBMB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS UBOUP DPNP TFB QPTJCMF NJFOUSBT DPOEVDF $POUSPMEFWFMPDJEBEEFMWFOUJMBEPS -BWFMPDJEBEEFMWFOUJMBEPSQVFEFBKVTa UBSTFBMBWFMPDJEBEEFTFBEBBDDJPOBOEP FM NBOEP EF DPOUSPM EF WFMPDJEBE EF WFOUJMBEPS $VBOUPNBZPSFTMBWFMPDJEBEEFMWFOUJa MBEPS N䜫TBJSFTFTVNJOJTUSB 4J TF QVMTB FM CPU䜽O 0'' TF BQBHB FM WFOUJMBEPS JSFBDPOEJDJPOBEP $ 1VMTFFMCPU䜽O$QBSBFODFOEFSFMTJTa UFNBEFBJSFBDPOEJDJPOBEP TFJMVNJOBa S䜫VOUFTUJHPJOEJDBEPS 1VMTFFMCPU䜽OPUSBWF[QBSBBQBHBSFM TJTUFNBEFBJSFBDPOEJDJPOBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 201. . .PEP0'' 1VMTFFMCPU䜽O0''QBSBBQBHBSFMTJTUFa NBEFDPOUSPMEFMDMJNBUJ[BEPSEFBJSF /PPCTUBOUF UPEBW䜷BQVFEFBDDJPOBSMPT CPUPOFT EFBENJTJ䜽O EF BJSF NJFOUSBT RVF FM CPU䜽O EF FODFOEJEP FTU䜫 FO MB QPTJDJ䜽O0/ 'VODJPOBNJFOUPEFMTJTUFNB 7FOUJMBDJ䜽O KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB $BMFGBDDJ䜽O KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSF B MB QPTJDJ䜽O EF BJSF GSFTDP FYUFSJPS KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽OEFTFBEB KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSBMBWFMPDJEBEEFTFBEB 4JEFTFBDBMPSEFTIVNJEJGJDBEP FOa DJFOEBFMTJTUFNBEFMBJSFBDPOEJDJPa OBEP TJFTU䜫FRVJQBEP 䳜 4JFMQBSBCSJTBTTFFNQB䜻B BKVTUFFM NPEPBQPTJDJ䜽O P $POTFKPTEFGVODJPOBNJFOUP 䳜 1BSB JNQFEJS RVF PMPSFT EFTBHSBEBa CMFT P QPMWP FOUSFO FO FM WFI䜷DVMP B USBW䜳T EFM TJTUFNB EF WFOUJMBDJ䜽O BKVTUF EF GPSNB UFNQPSBM FM DPOUSPM EFMBBENJTJ䜽OEFBJSFBMBQPTJDJ䜽OEF BJSF SFDJSDVMBEP TFH䝄SFTF EF WPMWFS BBKVTUBSFMDPOUSPMBMBQPTJDJ䜽OEFBJa SF GSFTDP VOB WF[ MB JSSJUBDJ䜽O IBZB QBTBEPZBT䜷NBOUFOFSFMBJSFEFMWFa I䜷DVMPGSFTDPTUPBZVEBS䜫BNBOUFa OFSBMDPOEVDUPSFOBMFSUBZD䜽NPEP 䳜 MBJSFQBSBFMTJTUFNBEFDBMFGBDDJ䜽O SFGSJHFSBDJ䜽O TF FYUSBF B USBW䜳T EF MBT SFKJMMBT TJUVBEBT KVTUP EFMBOUF EFM QBSBCSJTBTWJUFRVFFTUBTSFKJMMBTFTa U䜳OCMPRVFBEBTQPSIPKBT OJFWF IJFMP VPUSBTPCTUSVDDJPOFT 䳜 1BSB JNQFEJS RVF TF QSPEV[DB OJFCMB FOFMJOUFSJPSEFMQBSBCSJTBT BKVTUFFM DPOUSPMEFMBBENJTJ䜽OEFBJSFBMBQPa TJDJ䜽OEFBJSFGSFTDPZMBWFMPDJEBEEFM WFOUJMBEPSBMBEFTFBEB BDUJWFFMTJTa UFNB EFM BJSF BDPOEJDJPOBEP Z BKVTUF FMDPOUSPMEFUFNQFSBUVSBBMBUFNQFa SBUVSBEFTFBEB JSFBDPOEJDJPOBEP -PTTJTUFNBTEFBJSFBDPOEJDJPOBEP,JB DPOUJFOFO SFGSJHFSBOUF SFTQFUVPTP DPO FMNFEJPBNCJFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 202. SSBORVF FM NPUPS1VMTF FM CPU䜽O EFMBJSFBDPOEJDJPOBEP KVTUFFMNPEPBMBQPTJDJ䜽O KVTUFFMDPOUSPMEFMBBENJTJ䜽OEF BJSFBMBQPTJDJ䜽OEFBJSFFYUFSJPSP SFDJSDVMBEP KVTUF FM DPOUSPM EF WFMPDJEBE EFM WFOUJMBEPSZFMDPOUSPMEFUFNQFSBa UVSBQBSBNBOUFOFSVOBDPNPEJEBE N䜫YJNB 5/$*䜝/ 䳜 M NBOUFOJNJFOUP EFM TJTUFNB EF SFGSJHFSBOUFTPMPEFCFS䜫SFBMJ[BSTF QPS U䜳DOJDPT BVUPSJ[BEPT RVF IBa ZBO SFDJCJEP MB GPSNBDJ䜽O BEFDVBa EB DPO FM GJO EF HBSBOUJ[BS VOB PQFSBDJ䜽OBEFDVBEBZTFHVSB $POUJO䝄B FMWFI䜷DVMPTFIBMMFOBEPDPO3B P 3ZG TFH䝄O MB OPSNBUJWB FO TV QB䜷T FO FM NPNFOUP EF QSPEVDa DJ䜽O1VFEFBWFSJHVBSRV䜳SFGSJHFSBOa UFTFVUJMJ[BQBSBFMBJSFBDPOEJDJPOBa EPEFTVWFI䜷DVMPPCTFSWBOEPMBFUJa RVFUBEFMJOUFSJPSEFMDPNQBSUJNFOUP EFMNPUPS$POTVMUF䳖UJRVFUBEFSFa GSJHFSBOUF䳗FOMBQ䜫HJOB $POUJO䝄B 䳜 M NBOUFOJNJFOUP EFM TJTUFNB EF SFGSJHFSBOUF EFCFS䜫 SFBMJ[BSTF FO VOMVHBSCJFOWFOUJMBEP 䳜 MFWBQPSBEPSEFMBJSFBDPOEJDJPOBa EP CPCJOBEFFOGSJBNJFOUP OPEFa CFSFQBSBSTFOJDBNCJBSTFQPSPUSP EFTNPOUBEP EF VO WFI䜷DVMP VTBEP P EFTHVB[BEP Z MPT FWBQPSBEPSFT .$OVFWPTEFSFQVFTUPEFCFOFTa UBSDFSUJGJDBEPT ZMMFWBSMBFUJRVFa UB DPOGPSNF B MB OPSNB 4 + /05 䳜 MVUJMJ[BSFMTJTUFNBEFBJSFBDPOa EJDJPOBEP DPOUSPMF FM JOEJDBEPS EF UFNQFSBUVSB NJFOUSBT TVCF QFOa EJFOUFTPEVSBOUFMBDPOEVDDJ䜽OFO US䜫GJDP EFOTP DVBOEP MB UFNQFSBa UVSBFYUFSJPSTFBBMUBMGVODJPOBa NJFOUPEFMTJTUFNBEFBJSFBDPOEJa DJPOBEP QPES䜷B QSPWPDBS TPCSFDBa MFOUBNJFOUPFOFMNPUPS4JHBVUJMJa [BOEPFMWFOUJMBEPSQFSPBQBHVFFM BJSF BDPOEJDJPOBEP TJ FM JOEJDBEPS EFUFNQFSBUVSBNVFTUSBTPCSFDBa MFOUBNJFOUP 䳜 4JBMBCSJSMBWFOUBOBFMUJFNQPFT I䝄NFEP FMBJSFBDPOEJDJPOBEPQPa ES䜷BDSFBSHPUJUBTEFOUSPEFMWFI䜷a DVMP 6O FYDFTP EF HPUBT EF BHVB QPES䜷B EB䜻BS FM FRVJQP FM䜳DUSJDP QPS FMMP FM BJSF BDPOEJDJPOBEP EFa CFS䜫GVODJPOBST䜽MPDPOMBTWFOUBa OJMMBTDFSSBEBT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 203. $ $POTFKPTQBSBFMGVODJPOBNJFOUPEFMBJa SFBDPOEJDJPOBEP 䳜 4JTFIBBQBSDBEPFMWFI䜷DVMPEJSFDUBa NFOUFCBKPMBMV[EFMTPMDPOUFNQFa SBUVSBT BMUBT BCSB MBT WFOUBOBT EVa SBOUFVOSBUPQBSBRVFFMBJSFDBMJFOUF EFOUSPEFMWFI䜷DVMPEFTBQBSF[DB 䳜 1BSBSFEVDJSMBIVNFEBEFOMBTWFOUBa OBTFOE䜷BTI䝄NFEPTPMMVWJPTPT EJTa NJOVZB MB IVNFEBE EFOUSP EFM WFI䜷a DVMPFODFOEJFOEPFMBJSFBDPOEJDJPOBa EP 䳜 %VSBOUF FM GVODJPOBNJFOUP EFM BJSF BDPOEJDJPOBEP QPES䜷BOPUBSEFWF[FO DVBOEPVOMJHFSPDBNCJPFOMBWFMPDJa EBEEFMNPUPSEFCJEPBMPTDJDMPTEFM DPNQSFTPSEFMBJSFBDPOEJDJPOBEPTa UB FT VOB DBSBDUFS䜷TUJDB OPSNBM EFM GVODJPOBNJFOUPEFMTJTUFNB 䳜 1BSBHBSBOUJ[BSFMN䜫YJNPSFOEJNJFOa UPEFMTJTUFNB FODJFOEBFMBJSFBDPOa EJDJPOBEPDBEBNFTEVSBOUFVOPTNJa OVUPT 䳜 $VBOEP VUJMJDF FM TJTUFNB EF BJSF BDPOEJDJPOBEP QVFEF OPUBS HPUBT P JODMVTPVOQFRVF䜻PDIBSDP EFCBKPEFM WFI䜷DVMPFOFMMBEPEFMBDPNQB䜻BOUF TUBFTVOBDBSBDUFS䜷TUJDBOPSNBMEFM GVODJPOBNJFOUPEFMTJTUFNB 䳜 MGVODJPOBNJFOUPEFMTJTUFNBEFBJSF BDPOEJDJPOBEP FO MB QPTJDJ䜽O EF BJSF SFDJSDVMBEP PGSFDF VOB SFGSJHFSBDJ䜽O N䜫YJNB OP PCTUBOUF FM GVODJPOBa NJFOUPDPOUJOVPFOFTUFNPEPQVFEF QSPWPDBS RVF FM BJSF EFM JOUFSJPS EFM WFI䜷DVMPTFWJDJF 䳜 %VSBOUFMBPQFSBDJ䜽OEFSFGSJHFSBDJ䜽O PDBTJPOBMNFOUFQVFEFOPUBSRVFTBMF VO BJSF OFCMJOPTP EFCJEP BM FOGSJBa NJFOUPS䜫QJEPZBMBBENJTJ䜽OEFBJSF I䝄NFEP TUB FT VOB DBSBDUFS䜷TUJDB OPSNBM EFM GVODJPOBNJFOUP EFM TJTUFa NB 'JMUSPEFBJSFEFMDPOUSPMEFM DMJNBUJ[BEPS TJFTU䜫FRVJQBEP BJSFFYUFSJPS #BJSFSFDJSDVMBEP $GJMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[Ba EPS %WFOUJMBEPS O䝄DMFPEFMFWBQPSBEPS 'O䝄DMFPEFMDBMFGBDUPS MGJMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[Ba EPS EFM WFI䜷DVMP JOTUBMBEP EFUS䜫T EF MB HVBOUFSBGJMUSBFMQPMWPVPUSPTBHFOUFT DPOUBNJOBOUFT QSPDFEFOUFT EFM FYUFa SJPSRVFBDDFEFOBMJOUFSJPSEFMWFI䜷DVMP BUSBW䜳TEFMTJTUFNBEFMBJSFBDPOEJDJPa OBEPPEFMDBMFGBDUPS $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 204. 4J FTUBT TVTUBODJBTTF BDVNVMBO FO FM GJMUSPEVSBOUFVOMBSHPQFS䜷PEPEFUJFNa QP MBDBOUJEBEEFBJSFEFMPTEJGVTPSFT QVFEF EJTNJOVJS MP DVBM QSPWPDBS䜷B IVa NFEBEFYDFTJWBFOFMJOUFSJPSEFMQBSBa CSJTBT JODMVTPTFMFDDJPOBOEPMBQPTJDJ䜽O EFBJSF GSFTDP FYUFSJPS4JPDVSSFFTUP TPMJDJUF FM SFFNQMB[P EFM GJMUSP EF BJSF EFM DPOUSPM EFM DMJNBUJ[BEP FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP / /05 䳜 $BNCJFFMGJMUSPTFH䝄OFMDBMFOEBSJP EFNBOUFOJNJFOUP 4JDPOEVDFCBKPDPOEJDJPOFTBEWFSa TBT DPNP DBSSFUFSBT QPMWPSJFOUBT P BCSVQUBT OFDFTJUBS䜫 SFBMJ[BS DBNCJPT Z DPNQSPCBDJPOFT N䜫T GSFDVFOUFTEFMGJMUSPEFMBJSFBDPOa EJDJPOBEP 䳜 4JFM䜷OEJDFEFGMVKPEFBJSFEFTDJFOa EF SFQFOUJOBNFOUF TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP UJRVFUBEFMSFGSJHFSBOUFEFM BJSFBDPOEJDJPOBEP 䙓 -B FUJRVFUB BDUVBM EFM SFGSJHFSBOUF EFMBJSFBDPOEJDJPOBEPQPES䜷BEJGFSJS EFMBJNBHFO -PT T䜷NCPMPT Z FTQFDJGJDBDJPOFT FO MB FUJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOa EJDJPOBEP UJFOFO FM TJHOJGJDBEP TJHVJFOa UF $MBTJGJDBDJ䜽OEFMSFGSJHFSBOUF $BOUJEBEEFSFGSJHFSBOUF $MBTJGJDBDJ䜽OEFMMVCSJDBOUFEFMDPNa QSFTPS 1VFEF BWFSJHVBS RV䜳 SFGSJHFSBOUF TF VUJMJ[BQBSBFMBJSFBDPOEJDJPOBEPEFTV WFI䜷DVMP PCTFSWBOEP MB FUJRVFUB EFM JOa UFSJPSEFMIBCJU䜫DVMP $POTVMUF 䳖UJRVFUB EF SFGSJHFSBOUF䳗 FO MBQ䜫HJOB $PNQSPCBDJ䜽OEFMBDBOUJEBEEF SFGSJHFSBOUFEFMBJSF BDPOEJDJPOBEPZEFMVCSJDBOUF EFMDPNQSFTPS $VBOEPFMOJWFMEFSFGSJHFSBOUFTFBCBKP FMSFOEJNJFOUPEFMBJSFBDPOEJDJPOBEPTF SFEVDF6OMMFOBEPFYDFTJWPUBNCJ䜳OJOa GMVZFOFHBUJWBNFOUFFMTJTUFNBEFMBJSF BDPOEJDJPOBEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 205. 1PSMPUBOUP TJOPUBVOGVODJPOBNJFOUP BO䜽NBMP TPMJDJUFMBJOTQFDDJ䜽OEFMTJTUFa NBFOVOUBMMFSQSPGFTJPOBM ,JBSFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* 7FI䜷DVMPT FRVJQBEPT DPO 3B %BEPRVFFMSFGSJHFSBOUF FTU䜫BVOBQSFTJ䜽ONVZ BMUB FMNBOUFOJNJFOUP EFMTJTUFNBEFBJSFBDPOa EJDJPOBEPTPMPEFCFS䜫 SFBMJ[BSTFQPSU䜳DOJDPT BVUPSJ[BEPTRVFIBZBO SFDJCJEPMBGPSNBDJ䜽OBEFa DVBEBTJNQPSUBOUFVUJa MJ[BSMBDBOUJEBEZFMUJQP DPSSFDUPTEFBDFJUFZSFa GSJHFSBOUF %F MP DPOUSBSJP QPES䜷B DBVTBS MFTJPa OFTZEB䜻PTFOFMWFI䜷DVMP %735/$* 7FI䜷DVMPT FRVJQBEPT DPO 3ZG %BEPRVFFMSFGSJHFSBOUF FTMJHFSBNFOUFJOGMBNBCMF ZFTU䜫BVOBQSFTJ䜽ONVZ BMUB FMNBOUFOJNJFOUP EFMTJTUFNBEFBJSFBDPOa EJDJPOBEPTPMPEFCFS䜫 SFBMJ[BSTFQPSU䜳DOJDPT BVUPSJ[BEPTRVFIBZBO SFDJCJEPMBGPSNBDJ䜽OBEFa DVBEBTJNQPSUBOUFVUJa MJ[BSMBDBOUJEBEZFMUJQP DPSSFDUPTEFBDFJUFZSFa GSJHFSBOUF %F MP DPOUSBSJP QPES䜷B DBVTBS MFTJPa OFTZEB䜻PTFOFMWFI䜷DVMP MWFI䜷DVMPTFIBMMFOBEPDPO3BP 3ZG TFH䝄O MB OPSNBUJWB FO TV QB䜷T FO FM NPNFOUP EF QSPEVDDJ䜽O 1VFEFBWFSJHVBSRV䜳SFGSJHFSBOUFTF VUJMJ[B QBSB FM BJSF BDPOEJDJPOBEP EF TV WFI䜷DVMP PCTFSWBOEP MB FUJRVFUB EFM JOUFSJPS EFM DPNQBSUJNFOUP EFM NPUPS$POTVMUF䳖UJRVFUBEFSFGSJHFa SBOUF䳗FOMBQ䜫HJOB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 206. % %4$0/(-3:%4.1䜛3-13#3*44 %735/$* $BMFGBDDJ䜽OEFMQBSBCSJTBT /P VUJMJDFMB QPTJDJ䜽O OJ EVa SBOUF FM GVODJPOBNJFOUP EF SFGSJHFa SBDJ䜽O FO DPOEJDJPOFT BNCJFOUBMFT FYUSFNBEBNFOUF I䝄NFEBT -B EJGFa SFODJBFOUSFMBUFNQFSBUVSBEFMBJSF FYUFSJPS Z MB EFM QBSBCSJTBT QPES䜷B IBDFS RVF MB TVQFSGJDJF FYUFSJPS EFM NJTNP TF FNQB䜻BSB IBDJFOEP QFSa EFSMBWJTJCJMJEBEOFTUFDBTP BKVTUF FMCPU䜽OPFMNBOEPEFTFMFDDJ䜽OEF NPEPTBMBQPTJDJ䜽O ZFMCPU䜽OP FM NBOEP EF DPOUSPM EF MB WFMPDJEBE EFMWFOUJMBEPSBMBWFMPDJEBEN䜫TCBa KB 䳜 1BSB DPOTFHVJS VO EFTIJFMP N䜫YJNP BKVTUFFMDPOUSPMEFUFNQFSBUVSBBMB QPTJDJ䜽ON䜫YJNBEFSFDIBN䜫TDBMJFOa UFZFMDPOUSPMEFMBWFMPDJEBEEFMWFOa UJMBEPSFOMBN䜫TBMUB 䳜 4J EFTFB BJSF DBMJFOUF IBDJB FM TVFMP EVSBOUFFMEFTIJFMP BKVTUFFMNPEPB MBQPTJDJ䜽OTVFMPEFTIJFMP 䳜 OUFTEFDPOEVDJS MJNQJFMBOJFWFZFM IJFMPEFMQBSBCSJTBT MBMVOFUBUSBTFSB MPTSFUSPWJTPSFTFYUFSJPSFTZMBTWFOa UBOBTMBUFSBMFT 䳜 -JNQJFMBOJFWFZFMIJFMPEFMDBQ䜽ZEF MB FOUSBEB EF BJSF EF MB SFKJMMB QBSB NFKPSBSMBFGJDBDJBEFMDBMFGBDUPSZFM EFTFNQB䜻BEPSZQBSBSFEVDJSMBQPTJa CJMJEBEEFRVFFMQBSBCSJTBTTFFNQBa 䜻FFOFMJOUFSJPSEFMWFI䜷DVMP 4JTUFNBEFDPOUSPMEFM DMJNBUJ[BEPSNBOVBM 1BSBEFTFNQB䜻BSFMJOUFSJPSEFM QBSBCSJTBT 4FMFDDJPOF DVBMRVJFS WFMPDJEBE EFM WFOUJMBEPSFYDFQUP䳖䳗 4FMFDDJPOFMBUFNQFSBUVSBEFTFBEB 4FMFDDJPOFMBQPTJDJ䜽O P 4FTFMFDDJPOBS䜫EFGPSNBBVUPN䜫UJa DBMBQPTJDJ䜽OEFBJSF GSFTDP FYUFa SJPS 4JFMBJSFBDPOEJDJPOBEPZMBQPTJDJ䜽OEFM BJSF GSFTDP EFMFYUFSJPSOPTFTFMFDDJPa OBO BVUPN䜫UJDBNFOUF QVMTF FM CPU䜽O DPSSFTQPOEJFOUFEFGPSNBNBOVBM 1BSBEFTDPOHFMBSFMFYUFSJPSEFM QBSBCSJTBT KVTUF MB WFMPDJEBE EFM WFOUJMBEPS B MB NBZPS QPTJDJ䜽O FYUSFNP EFSFa DIP KVTUFFMDPOUSPMEFUFNQFSBUVSBB MBQPTJDJ䜽ON䜫TDBMJFOUF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 207. 4FMFDDJPOFMBQPTJDJ䜽O 4FTFMFDDJPOBS䜫EFGPSNBBVUPN䜫UJa DBMBQPTJDJ䜽OEFBJSFGSFTDP FYUFa SJPS 4 4JTUFNBEFDPOUSPMEFM DMJNBUJ[BEPSBVUPN䜫UJDP 1BSBEFTFNQB䜻BSFMJOUFSJPSEFM QBSBCSJTBT KVTUF MB WFMPDJEBE EFM WFOUJMBEPS B MBQPTJDJ䜽OEFTFBEB 4FMFDDJPOFMBUFNQFSBUVSBEFTFBEB 1VMTF FM CPU䜽O EFM EFTFNQB䜻BEPS M BJSF BDPOEJDJPOBEP TF BDUJWBS䜫 EFQFOEJFOEP EF MB UFNQFSBUVSB BNCJFOUFEFUFDUBEBZMBQPTJDJ䜽OEF BJSF GSFTDP FYUFSJPSTFTFMFDDJPOBa S䜫BVUPN䜫UJDBNFOUF 4JFMBJSFBDPOEJDJPOBEPZMBQPTJDJ䜽OEF BJSF GSFTDP FYUFSJPSOPTFTFMFDDJPOBO BVUPN䜫UJDBNFOUF QVMTF FM CPU䜽O DPa SSFTQPOEJFOUFEFGPSNBNBOVBM4JTFa MFDDJPOBMBQPTJDJ䜽O MBWFMPDJEBEN䜫T CBKBEFMWFOUJMBEPSTFBKVTUBS䜫BVOBWFa MPDJEBEN䜫TBMUB 1BSBEFTDPOHFMBSFMFYUFSJPSEFM QBSBCSJTBT KVTUF MB WFMPDJEBE EFM WFOUJMBEPS B MB NBZPS QPTJDJ䜽O FYUSFNP EFSFa DIP KVTUFMBUFNQFSBUVSBBMBQPTJDJ䜽O N䜫TDBMJFOUF )* 1VMTF FM CPU䜽O EFM EFTFNQB䜻BEPS M BJSF BDPOEJDJPOBEP TF BDUJWBS䜫 EFQFOEJFOEP EF MB UFNQFSBUVSB BNCJFOUFEFUFDUBEBZMBQPTJDJ䜽OEF BJSF GSFTDP FYUFSJPSTFTFMFDDJPOBa S䜫BVUPN䜫UJDBNFOUF 4JTFMFDDJPOBMBQPTJDJ䜽O MBWFMPDJEBE N䜫T CBKB EFM WFOUJMBEPS TF BKVTUBS䜫 B VOBWFMPDJEBEN䜫TBMUB -䜽HJDBEFEFTFNQB䜻BEP TJFTU䜫 FRVJQBEP 1BSBSFEVDJSMBQPTJCJMJEBEEFRVFFMJOa UFSJPSEFMQBSBCSJTBTTFFNQB䜻F MBBEa NJTJ䜽OEFBJSFPFMBJSFBDPOEJDJPOBEPTF DPOUSPMBOBVUPN䜫UJDBNFOUFTFH䝄OVOBT DPOEJDJPOFTEFUFSNJOBEBT DPNPMBQPa TJDJ䜽O P QPTJDJ䜽O1BSBDBODFMBSP BOVMBS MB M䜽HJDB EF EFTFNQB䜻BEP QSPa DFEBDPNPTJHVF $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 208. 4 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPS BVUPN䜫UJDP TJFTU䜫FRVJQBEP $PMPRVFFMJOUFSSVQUPSEFFODFOEJEP FOMBQPTJDJ䜽O0/ 4FMFDDJPOFMBQPTJDJ䜽OEFEFTFNQBa 䜻BEPQVMTBOEPFMCPU䜽OEFEFTIJFMP .JFOUSBTNBOUJFOFQVMTBEPFMCPU䜽O EFM BJSF BDPOEJDJPOBEP $ QVMTF FM CPU䜽O EF DPOUSPM EF MB BENJTJ䜽O EF BJSF BM NFOPT WFDFT FO TFHVOEPT MJOEJDBEPSEFMCPU䜽OEFDPOUSPMEFBEa NJTJ䜽OEFBJSFQBSQBEFBS䜫WFDFT*OEJa DBRVFMBM䜽HJDBEFEFTFNQB䜻BEPTFIB DBODFMBEP P SFHSFTB BM FTUBEP QSPHSBa NBEP 4JTFIBEFTDPOFDUBEPPEFTDBSHBEPMB CBUFS䜷B TF SFJOJDJB FM FTUBEP EF M䜽HJDB EFEFTFNQB䜻BEP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 209. $ $0.135*.*/50413(63%30#+504 TUPTDPNQBSUJNFOUPTTFQVFEFOVUJMJa [BS QBSB BMNBDFOBSQFRVF䜻PT FMFNFOa UPT RVF OFDFTJUFO UBOUP FM DPOEVDUPS DPNPFMBDPNQB䜻BOUF 5/$*䜝/ 䳜 1BSBFWJUBSQPTJCMFTSPCPT OPEFKF PCKFUPT EF WBMPS FO MPT DPNQBSUJa NFOUPT 䳜 .BOUFOHB TJFNQSF MB QVFSUB EF MB HVBOUFSBDFSSBEBNJFOUSBTDPOEVa DF/PJOUFOUFDPMPDBSNVDIPTPCa KFUPTFOMBHVBOUFSBZRVF䜳TUBOP DJFSSFDPSSFDUBNFOUF %735/$* .BUFSJBMFTJOGMBNBCMFT /P HVBSEF NFDIFSPT DJMJOESPT EF QSPQBOPVPUSPTNBUFSJBMFTJOGMBNBa CMFT P FYQMPTJWPT FO FM WFI䜷DVMP Ta UPTFMFNFOUPTQPES䜷BOQSPEVDJSGVFa HPZPFYQMPUBSTJFMWFI䜷DVMPTFFYa QPOF B BMUBT UFNQFSBUVSBT EVSBOUF MBSHPTQFSJPEPTEFUJFNQP $PNQBSUJNFOUPFOMBDPOTPMB DFOUSBM TJFTU䜫FRVJQBEP TUPTDPNQBSUJNFOUPTTFQVFEFOVUJMJa [BSQBSBBMNBDFOBSQFRVF䜻PTBSU䜷DVMPT RVFOFDFTJUFOUBOUPFMDPOEVDUPSDPNP FMBDPNQB䜻BOUF 1BSBBCSJSFMDPNQBSUJNFOUPEFMBDPOa TPMBDFOUSBM UJSFEFMBQBMBODB (VBOUFSB 1BSBBCSJSMBHVBOUFSB UJSFEFMBFNQVa 䜻BEVSB Z TF BCSJS䜫 BVUPN䜫UJDBNFOUF $JFSSFMBHVBOUFSBEFTQV䜳TEFVUJMJ[BSMB %735/$* 1BSBSFEVDJSFMSJFTHPEFMFTJPOFTFO DBTPEFBDDJEFOUFPGSFOBEBCSVTDB NBOUFOHB TJFNQSF MB HVBOUFSB DFa SSBEBEVSBOUFMBDPOEVDDJ䜽O $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 210. 5/$*䜝/ /PHVBSEFBMJNFOUPTFOMBHVBOUFSB EVSBOUFNVDIPUJFNQP 4PQPSUFEFSFEEFMNBMFUFSP TJ FTU䜫FRVJQBEP 1BSBFWJUBSRVFFMFRVJQBKFTFEFTQMBDF FOFM䜫SFBEFDBSHB QVFEFVUJMJ[BSMPT TPQPSUFTVCJDBEPT FO FM 䜫SFB EF DBSHB QBSBFOHBODIBSMBSFEEFMNBMFUFSP 4JFTOFDFTBSJP ,JBSFDPNJFOEBQPOFSTF FO DPOUBDUP DPO VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ 1BSB JNQFEJS RVF MBT NFSDBOD䜷BT TF EB䜻FO P JODMVTP FM NJTNP WFI䜷DVMP UFOHB DVJEBEP BM DBSHBS PCKFUPT QFa TBEPTPGS䜫HJMFTFOFMNBMFUFSP %735/$* WJUF MFTJPOBSTF MPT PKPT /0 TPCSFa DBSHVFMBSFEEFMNBMFUFSP.BOUFOa HB4*.13MBDBSBPFMDVFSQPBMFKBa EPTEFMBUSBZFDUPSJBEFSFUSPDFTPEF MBSFEEFMNBMFUFSP/0VUJMJDFMBSFE DVBOEPMBDVFSEBNVFTUSFTJHOPTWJa TJCMFTEFEFTHBTUF 1MBDBEFMNBMFUFSP TJFTU䜫 FRVJQBEP 1VFEF DPMPDBS FM NBMFU䜷O EF QSJNFSPT BVYJMJPT MPT USJ䜫OHVMPT SFGMFDUPSFT IFa SSBNJFOUBT FUD FOMBDBKBQBSBVOG䜫DJM BDDFTP 4VKFUFMBNBOJMMBFOMBQBSUFTVQFSJPSEF MBUBQBZMFW䜫OUFMB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 211. VNFOUPEFMFTQBDJPEFDBSHB TJFTU䜫FRVJQBEP 4JRVJFSFBVNFOUBSFMFTQBDJPEFDBSHB 4VKFUF MBNBOJMMB FO MB QBSUF TVQFa SJPSEFMBUBQBZMFW䜫OUFMB 1MJFHVFMBQBSUFUSBTFSBEFMBQBSUF EFMBOUFSBEFMBQMBDBEFMNBMFUFSP 5JSF EF MB CJTBHSB EF MB QMBDB EFM NBMFUFSPIBDJBMBSBOVSBEFEFTMJ[Ba NJFOUP Z EFTDFOEFS䜫 IBDJB BCBKP QBSBBVNFOUBSFMFTQBDJPEFDBSHB %FTM䜷DFMBIBDJBEFMBOUF DPOTVMUFMBT JMVTUSBDJPOFTBOUFSJPSFT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 212. $ $3$53䜗45*$4*/53*034 ODFOEFEPS TJFTU䜫FRVJQBEP 1BSBRVFFMFODFOEFEPSGVODJPOF FMJOa UFSSVQUPSEFFODFOEJEPEFCFFTUBSFOMB QPTJDJ䜽O$$BDDFTPSJPT V0/ BDUJWBa EP 1BSBVTBFMNFDIFSP JOUSPE䝄[DBMPUPEP MP RVF QVFEB $VBOEP TF IB DBMFOUBEP FMNFDIFSPTBMUBS䜫BMBQPTJDJ䜽OEFQSFa QBSBEP 4JFTOFDFTBSJPSFFNQMB[BSFMNFDIFSP VUJMJDF䝄OJDBNFOUFVOSFDBNCJP,JBPSJa HJOBMPVOFRVJWBMFOUFBVUPSJ[BEP %735/$* 䳜 /P DPKB FM FODFOEFEPS KVTUP EFTa QV䜳TEFIBCFSMPDBMFOUBEP QPSRVF QPES䜷BFTUBSNVZDBMJFOUF 䳜 4J FM FODFOEFEPS OP TBMUB USBT TFHVOEPT SFU䜷SFMP QBSB FWJUBS TPCSFDBMFOUBNJFOUP 䳜 /PJOUSPEV[DBDVFSQPTFYUSB䜻PTFO FMFODIVGFEFMNFDIFSP1PES䜷BEBa 䜻BSFMNFDIFSP 5/$*䜝/ 6UJMJDF 䝄OJDBNFOUF VO NFDIFSP ,JB PSJHJOBMFOMBUPNBEFMNFDIFSP6TBS PCKFUPT DPO FODIVGF N䜫RVJOBT EF BGFJUBS BTQJSBEPSBT EF NBOP DBGFa UFSBT FUD QPES䜷BEB䜻BSMBUPNBEF DPSSJFOUFPDBVTBSVOGBMMPFM䜳DUSJDP $FOJDFSP TJFTU䜫FRVJQBEP 1BSBVTBSFMDFOJDFSP BCSBMBUBQB 1BSBMJNQJBSPWBDJBSFMDFOJDFSP T䜫RVFa MP 6TFFMDFOJDFSPBQPZ䜫OEPMPFOFMTPQPSa UFQBSBCFCJEBTKVTUPBMMBEPEFMNJTNP %735/$* 6TPEFMDFOJDFSP 䳜 /P VUJMJDF FM DFOJDFSP EFM WFI䜷DVMP DPNPCBTVSFSP $POUJO䝄B $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 213. $POUJO䝄B 䳜 %FKBSDJHBSSJMMPTPDFSJMMBTFOFMDFa OJDFSPKVOUPDPONBUFSJBMDPNCVTa UJCMFQVFEFQSPWPDBSVOJODFOEJP 1PSUBWBTPT %735/$* -䜷RVJEPTDBMJFOUFT 䳜/P EFTUBQF UB[BT EF M䜷RVJEPT DBa MJFOUFFOFMQPSUBWBTPTNJFOUSBTFM WFI䜷DVMPFTU䜫FONBSDIB4JTFEFa SSBNBM䜷RVJEPDBMJFOUF QVFEFRVFa NBSTF4JFTUPTVDFEF QPES䜷BQFSa EFSFMDPOUSPMEFMWFI䜷DVMP 䳜 1BSB SFEVDJS FM SJFTHP EF MFTJPOFT FODBTPEFGSFOB[PSFQFOUJOPPDPa MJTJ䜽O OP EFTUBQB P BCSB CPUFMMBT WBTPT MBUBT FUD FOFMTPQPSUFEF CFCJEBT NJFOUSBT FM WFI䜷DVMP FTU䜫 FONBSDIB %735/$* .BOUFOHB MBUBT Z CPUFMMBT BMFKBEBT EFMBMV[EJSFDUBEFMTPMZOPMBTDPMPa RVF FO VO WFI䜷DVMP DBMFOUBEP QPS FM TPM1PES䜷BOFYQMPUBS -BTUB[BTPMBUBTEFCFCJEBTQFRVF䜻BT QVFEFODPMPDBSTFFOMPTQPSUBWBTPT 1BSB VUJMJ[BS FM TPQPSUF QBSB CFCJEBT QVMTFFMCPU䜽O QBSFDFS䜫MBNJUBEEFMTPQPSUFQBSBCFa CJEBT 5/$*䜝/ 5FOHBDVJEBEPEFOPEFSSBNBSCFCJa EBT FO FM TPQPSUF QBSB CFCJEBT M TPQPSUFQBSBCFCJEBTQPES䜷BOPGVOa DJPOBS 1BSB VTBS FM FTQBDJP EFM TPQPSUF QBSB CFCJEBT DPNP DPNQBSUJNFOUP QBSB HVBSEBSDPTBT HJSFMBNJUBEEFMTPQPSUF QBSBCFCJEBT FOFMTFOUJEPJOEJDBEP QPSMBGMFDIB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 214. / /05 䳜 .BOUFOHB MBTCFCJEBT TFMMBEBT NJFOUSBT DPOEVDF QBSB FWJUBS RVF TFEFSSBNFO4JFMM䜷RVJEPTFEFSSBa NB QPES䜷BJOUSPEVDJSTFFOFMTJTUFa NB FM䜳DUSJDPFMFDUS䜽OJDP EFM WFI䜷a DVMP Z EB䜻BS MPT DPNQPOFOUFT EFM NJTNP 䳜 M MJNQJBS MPT M䜷RVJEPT WFSUJEPT OP TFRVFFMTPQPSUFQBSBCFCJEBTBBMa UB UFNQFSBUVSB 1PES䜷B EB䜻BS FM TPQPSUFQBSBCFCJEBT 1BSBTPM 6UJMJDFFMQBSBTPMQBSBQSPUFHFSTFEFMB MV[ EJSFDUB RVF FOUSB QPS MB WFOUBOB GSPOUBMPMBUFSBMFT 1BSB VUJMJ[BS FM QBSBTPM UJSF EFM NJTNP IBDJBBCBKP 1BSBVTBSVOQBSBTPMFOVOBWFOUBOBMBa UFSBM UJSFEFMNJTNPIBDJBBCBKP EFTFOa H䜫ODIFMPEFMTPQPSUF ZNV䜳WBMPIBa DJBFMMBEP 1BSBVUJMJ[BSFMFTQFKP UJSFEFMWJTPSIBa DJBBCBKPZEFTMJDFMBDVCJFSUBEFMFTQFKP M TPQPSUF QBSB UJDLFUT TJSWF QBSB TVKFUBS MPT UJDLFUT EFM QFBKF TJ FTU䜫 FRVJQBEP %735/$* 1PS NPUJWPT EF TFHVSJEBE OP PCTa USVZBTVWJTJCJMJEBEBMVTBSFMQBSBTPM $BMFGBDDJ䜽OEFMBTJFOUP TJFTU䜫 FRVJQBEP -B DBMFGBDDJ䜽O EF BTJFOUPT QSPQPSDJPOB DBMPSBMPTBTJFOUPTEFMBOUFSPTFODPOa EJDJPOFT BNCJFOUBMFT GS䜷BT $VBOEP FM JOUFSSVQUPSEFFODFOEJEPFTU䜫FOMBQPa TJDJ䜽O 0/ QVMTF DVBMRVJFSB EF MPT JOUFa SSVQUPSFT QBSB DBMFOUBS FM BTJFOUP EFM DPOEVDUPSZFMBTJFOUPEFMQBTBKFSPEFa MBOUFSP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 215. ODPOEJDJPOFTBNCJFOUBMFTNPEFSBEBT P DVBOEP OPTF OFDFTJUB MB DBMFGBDDJ䜽O EFMPTBTJFOUPT NBOUFOHBMPTJOUFSSVQa UPSFTFOMBQPTJDJ䜽O0'' 䳜 $BEBWF[RVFTFQVMTFFMJOUFSSVQUPS FMBKVTUFEFMBUFNQFSBUVSBEFMBTJFOa UPDBNCJBDPNPTJHVF ¥TJFOUPEFMBOUFSP 䳜 -B DBMFGBDDJ䜽O EFM BTJFOUP FTU䜫 FO MB QPTJDJ䜽O0''QPSEFGFDUPTJFNQSFRVF FM JOUFSSVQUPS EF FODFOEJEP TF FOa DVFOUSFFOMBQPTJDJ䜽O0/ / /05 $PO FM JOUFSSVQUPS EF MB DBMFGBDDJ䜽O EFMBTJFOUPFOMBQPTJDJ䜽O0/ FMTJTa UFNB EF DBMFGBDDJ䜽O EFM BTJFOUP TF BQBHB P TF FODJFOEF BVUPN䜫UJDBa NFOUF EFQFOEJFOEP EF MB UFNQFSBa UVSBEFMBTJFOUP 5/$*䜝/ 䳜 M MJNQJBS MPT BTJFOUPT OP VUJMJDF EJTPMWFOUFT PSH䜫OJDPT DPNP EJTPMa WFOUF EF QJOUVSB CFODJOB BMDPIPM Z HBTPMJOB %F MP DPOUSBSJP QPES䜷B EB䜻BS MB TVQFSGJDJF EF MB DBMFGBDa DJ䜽OPEFMPTBTJFOUPT 䳜 1BSB FWJUBS FM TPCSFDBMFOUBNJFOUP EF MB DBMFGBDDJ䜽O EF MPT BTJFOUPT OPDPMPRVFOBEBTPCSFMPTBTJFOUPT RVFB䜷TMFDPOUSBFMDBMPSDPNPQPS FKFNQMP NBOUBT DPKJOFT P GVOEBT NJFOUSBTMBDBMFGBDDJ䜽OEFMBTJFOUP FTU䜫GVODJPOBOEP 䳜 /PDPMPRVFPCKFUPTQFTBEPTPBGJa MBEPT FO MPT BTJFOUPT FRVJQBEPT DPO DBMFGBDDJ䜽O 1PES䜷B QSPWPDBS EB䜻PT FO MPT DPNQPOFOUFT EF MB DBMFGBDDJ䜽OEFMPTBTJFOUPT 䳜 /P DBNCJF MB GVOEB EFM BTJFOUP 1PES䜷B EB䜻BS FM DBMFGBDUPS EFM BTJFOUPPFMTJTUFNBEFWFOUJMBDJ䜽O QPSBJSF %735/$* -BDBMFGBDDJ䜽OEFMBTJFOUPQVFa EFDBVTBSRVFNBEVSBT -PT QBTBKFSPT EFCFO FYUSFNBS MBT QSFDBVDJPOFTBMVUJMJ[BSMBDBMFGBDDJ䜽O EFMPTBTJFOUPT ZBRVFQPES䜷BQSPEVa DJSTFVOFYDFTPEFDBMPSPRVFNBEVa SBT-BDBMFGBDDJ䜽OEFMBTJFOUPQVFEF DBVTBS RVFNBEVSBT JODMVTP B CBKBT UFNQFSBUVSBT FTQFDJBMNFOUF TJ TF VUJMJ[B EVSBOUF MBSHPT QFSJPEPT EF UJFNQPOFTQFDJBM FMDPOEVDUPSEFa CFUFOFSFTQFDJBMDVJEBEPDPOMPTTJa HVJFOUFTBDPNQB䜻BOUFT /J䜻PT QFSTPOBT NBZPSFT P EJTa DBQBDJUBEBT P QBDJFOUFT SFDJ䜳O TBMJEPTEFMIPTQJUBM 1FSTPOBT DPO QJFM TFOTJCMF P BRVFMMBT RVF TF RVFNFO G䜫DJMa NFOUF 1FSTPOBTGBUJHBEBT 1FSTPOBTJOUPYJDBEBT 1FSTPOBT RVF FTU䜳O UPNBOEP VOB NFEJDBDJ䜽O RVF QSPEV[DB TPNOPMFODJB P TPQPS QBTUJMMBT QBSBEPSNJS DPOUSBMBHSJQF FUD $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 216. 5 5PNBEFDPSSJFOUF -BUPNBEFDPSSJFOUFFTU䜫EJTF䜻BEBQBa SB QSPQPSDJPOBS QPUFODJBB UFM䜳GPOPT N䜽WJMFT V PUSPT BQBSBUPT FM䜳DUSJDPT EJa TF䜻BEPT QBSB GVODJPOBS DPO FM TJTUFNB FM䜳DUSJDPEFMWFI䜷DVMPTUPTEJTQPTJUJWPT EFCFO UFOFS VOB QPUFODJB JOGFSJPS B BNQFSJPTDPOFMNPUPSFOGVODJPOBa NJFOUP 5/$*䜝/ 䳜 6UJMJDF MB UPNB EF DPSSJFOUF T䜽MP DVBOEPFTU䜳GVODJPOBOEPFMNPUPS Z EFTFOHBODIF FM FODIVGF EFM BDa DFTPSJP EFTQV䜳T EF VTBSMP M VTP EFMFODIVGFQBSBBDDFTPSJPTEVSBOa UF VO UJFNQP QSPMPOHBEP Z DPO FM NPUPS BQBHBEP QPES䜷B QSPWPDBS VOBEFTDBSHBEFMBCBUFS䜷B 䳜 6UJMJDFT䜽MPBDDFTPSJPTEF7RVF UFOHBO NFOPT EF EF DBQBDJa EBEFM䜳DUSJDB 䳜 KVTUF FM BJSF BDPOEJDJPOBEP P MB DBMFGBDDJ䜽OBMN䜷OJNPOJWFMDVBOEP VUJMJDFMBUPNBEFDPSSJFOUF 䳜 $JFSSFMBUBQBDVBOEPOPMPVUJMJDF 䳜 MHVOPT BQBSBUPT FM䜳DUSJDPT QVFa EFO QSPWPDBS JOUFSGFSFODJBT FMFDa US䜽OJDBT DVBOEP TF FODIVGBO B MB UPNBEFDPSSJFOUFEFMWFI䜷DVMPTa UPTEJTQPTJUJWPTQVFEFODBVTBSSVJa EPT FTU䜫UJDPT P GBMMP EF GVODJPOBa NJFOUPEFPUSPTTJTUFNBTFMFDUS䜽a OJDPT V PUSPT EJTQPTJUJWPT VTBEPT FOTVWFI䜷DVMP $POUJO䝄B $POUJO䝄B 䳜 -BVUJMJ[BDJ䜽OEFQSPEVDUPTFM䜳DUSJa DPTRVFTVQFSFOMBDBQBDJEBEMJNJa UBEBQPES䜷BOPDBTJPOBSVODBMFOUBa NJFOUPEFMBUPNBEFDPSSJFOUFZFM DBCMFBEP MP RVF QPES䜷B QSPWPDBS VOBBWFS䜷BFM䜳DUSJDB 䳜 TFH䝄SFTFTJFNQSFEFRVFMBQBSUF FM䜳DUSJDB FTU䜳 DPNQMFUBNFOUF FOa DIVGBEB B MB UPNB EF DPSSJFOUF 6OB DPOFYJ䜽O JODPNQMFUB QPES䜷B QSPWPDBSVOBBWFS䜷BFM䜳DUSJDB 䳜 -PT QSPEVDUPT FM䜳DUSJDPT DPO VOB CBUFS䜷B JOUFHSBEB QPES䜷BO DBVTBS VOGMVKPEFDPSSJFOUF MPRVFQPES䜷B QSPWPDBSVOBBWFS䜷BEFMPTEJTQPTJa UJWPTFM䜳DUSJDPTFMFDUS䜽OJDPTEFMWFa I䜷DVMP 6UJMJDF 䝄OJDBNFOUF QSPEVDa UPT FM䜳DUSJDPT RVF JODMVZBO VOB QSFWFODJ䜽OEFDPSSJFOUFJOWFSTB %735/$* /P QPOHB MPT EFEPT OJ OJOH䝄O FMFa NFOUPFYUSB䜻P QJO FUD FOMBUPNB EFDPSSJFOUFOJUBNQPDPMBUPRVFDPO MB NBOP NPKBEB 1PES䜷B TVGSJS VOB EFTDBSHBFM䜳DUSJDB $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 217. 3 3FMPKEJHJUBM TJFTU䜫FRVJQBEP $BEBWF[RVFMPTUFSNJOBMFTEFMBCBUFa S䜷BPMPTGVTJCMFTTFEFTDPOFDUFO EFCFa S䜫WPMWFSBDPOGJHVSBSFMSFMPK $POFM JOUFSSVQUPS EF FODFOEJEP FO MB QPTJDJ䜽O$$V0/ MPTCPUPOFTEFMSFMPK GVODJPOBOEFMBTJHVJFOUFNBOFSB KVTUFEFMSFMPK )PSB (JSF FM NBOEP B MB J[RVJFSEB ) QBSB BWBO[BSMBIPSBJOEJDBEB .JOVUP (JSF FM NBOEP B MB EFSFDIB . QBSB BWBO[BSMPTNJOVUPTJOEJDBEPT %735/$* /P BKVTUF FM SFMPK NJFOUSBT DPOEVDF 1PES䜷BQFSEFSFMDPOUSPMEFMWPMBOUFZ QSPWPDBSVOBDDJEFOUFRVFDBVTFMFa TJPOFTHSBWFTPMBNVFSUF ODMBKF T EFMBBMGPNCSJMMBEFM TVFMP TJFTU䜫FRVJQBEP 4JVUJMJ[BVOBBMGPNCSJMMBEFMTVFMPTPCSF MB NPRVFUB EFMBOUFSB BTFH䝄SFTF EF RVFTFBDPQMFFOMPTBODMBKFTQBSBMBBMa GPNCSJMMBEFTVWFI䜷DVMP%FFTUFNPEP TFJNQJEFRVFMBBMGPNCSJMMBQBUJOFIBDJB EFMBOUF %735/$* 5FOHB FO DVFOUB MP TJHVJFOUF BM JOTa UBMBS $6-26*3 UJQP EF BMGPNCSJMMB FOFMWFI䜷DVMP 䳜 TFH䝄SFTF EF RVF MBT BMGPNCSJMMBT FTU䜳O GJSNFNFOUF GJKBEBT FO MPT BODMBKFTQBSBMBTNJTNBTQSFWJTUPT FO FM WFI䜷DVMP BOUFT EF JOJDJBS MB DPOEVDDJ䜽O 䳜 /P VTF /*/(6/ BMGPNCSJMMB RVF OPQVFEBGJKBSTFGJSNFNFOUFFOMPT BODMBKFTQSFWJTUPTQBSBMBTNJTNBT FOFMWFI䜷DVMP 䳜 /P BQJMF BMGPNCSJMMBT VOB TPCSF MB PUSB QFKBMGPNCSJMMBEFHPNBQBa SB UPEP UJQP EF DPOEJDJPOFT BNa CJFOUBMFTTPCSFVOBBMGPNCSJMMBFOa NPRVFUBEB 4䜽MP EFCF DPMPDBSTF VOBBMGPNCSJMMBFODBEBQPTJDJ䜽O *.1035/5 䳍 4V WFI䜷DVMP IB TJEP GBCSJDBEPDPOBODMBKFTQBSBBMGPNCSJa MMBFOFMMBEPEFMDPOEVDUPSEJTF䜻BEPT QBSBTVKFUBSMBBMGPNCSJMMBGJSNFNFOa UFFOTVMVHBS1BSBFWJUBSDVBMRVJFS JOUFSGFSFODJB DPO FM BDDJPOBNJFOUP EFMPTQFEBMFT ,JBSFDPNJFOEBVUJMJa [BS T䜽MP MB BMGPNCSJMMB ,JB EJTF䜻BEB QBSBTFSVUJMJ[BEBFOTVWFI䜷DVMP $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 218. ( (BODIPQBSBCPMTBT 5/$*䜝/ 䳜 /P DVFMHVFVOB CPMTB RVF QFTF N䜫TEFLH1PES䜷BEB䜻BSFMHBOa DIPQBSBCPMTBT 䳜 /PDVFMHVFPCKFUPTGS䜫HJMFTBMDPOa EVDJSQPSDBM[BEBTEFGJSNFJSSFHVa MBS ZBRVFMPTPCKFUPTQPES䜷BOEBa 䜻BSTF $PMHBEPSQBSBSPQB TJFTU䜫 FRVJQBEP 1BSB VTBS FM DPMHBEPS UJSF IBDJB BCBKP EFMBQBSUFTVQFSJPSEFMDPMHBEPS 5/$*䜝/ /PDVFMHVFQSFOEBTEFSPQBQFTBEBT ZBRVFQPES䜷BEB䜻BSFMHBODIP %735/$* /P DVFMHVF PCKFUPT DPNP QFSDIBT V PCKFUPT EVSPT TPMP SPQB TJNJTNP OPDPMPRVFPCKFUPTQFTBEPT QVOUJBa HVEPT P RVF TF QVFEBO SPNQFS FO MPTCPMTJMMPTEFUFMBODBTPEFBDDJa EFOUFPTJFMBJSCBHEFDPSUJOBTFJOa GMBSB QPES䜷BDBVTBSEB䜻PTFOFMWFI䜷a DVMPPMFTJPOFTQFSTPOBMFT $BSBDUFS䜷TUJDBTEFTVWFI䜷DVMP
- 219. 4JTUFNBEFBVEJP OUFOB 1VFSUP69 64# 䜉$䜽NPGVODJPOBFMFRVJQPEFBVEJPEFMWFI䜷DVMP J1PE䛸 5FDOPMPH䜷BJOBM䜫NCSJDB#MVFUPPUI䛸 VEJP TJOQBOUBMMBU䜫DUJM $BSBDUFS䜷TUJDBTEFMFRVJQPEFBVEJP VEJP TJOQBOUBMMBU䜫DUJM $BSBDUFS䜷TUJDBTEFMFRVJQPEFBVEJP 3BEJP .FEJPT 1IPOF UFM䜳GPOP $POGJHVSBDJ䜽O %FDMBSBDJ䜽OEFDPOGPSNJEBE $QBSB6 /$$QBSB5BJX䜫O /5-QBSB#SBTJM *'5- 4 4JTUFNBEFBVEJP
- 220. 4 4*45.%6%*0 /05 4JDBNCJBFMGBSP)*%QPSVOPOPPSJa HJOBM EFM NFSDBEP TV EJTQPTJUJWP FMFDUS䜽OJDPZEFBVEJPQPES䜷BGVODJPa OBSJODPSSFDUBNFOUF OUFOB OUFOBEFMUFDIP 4VWFI䜷DVMPVUJMJ[BVOBBOUFOBQBSBSFDJa CJSMBTTF䜻BMFTEFFNJTJ䜽OEF.Z'. TUBBOUFOBQVFEFEFTNPOUBSTF 1BSB EFTNPOUBS MB BOUFOB H䜷SFMB FO TFOUJEPBOUJIPSBSJP1BSBNPOUBSMBBOa UFOB H䜷SFMBFOTFOUJEPIPSBSJP 5/$*䜝/ 䳜 OUFT EF FOUSBS FO VO MVHBS DPO UFDIP CBKP P VO U䝄OFM EF MBWBEP EFTNPOUF MB BOUFOB HJS䜫OEPMB FO TFOUJEP BOUJIPSBSJP %F MP DPOUSBa SJP MBBOUFOBQPES䜷BEB䜻BSTF 䳜 $VBOEPWVFMWBBDPMPDBSMBBOUFOB FTJNQPSUBOUFRVFFTU䜳CJFOBQSFa UBEBZBKVTUBEBFOQPTJDJ䜽OWFSUJDBM QBSB BTFHVSBS VOB SFDFQDJ䜽O BEFa DVBEB1FSPTFQVFEFEPCMBSPFYa USBFS BM BQBSDBS FM WFI䜷DVMP P BM DBSHBSMBCBDB 䳜 $VBOEPTFDBSHBOPCKFUPTFOMBCBa DB OPDPMPRVFMBDBSHBDFSDBEFMB WBSJMMBEFMBBOUFOBQBSBHBSBOUJ[BS VOBCVFOBSFDFQDJ䜽O 1VFSUP69 64# TJFTU䜫 FRVJQBEP 1VFEF VUJMJ[BS FM QVFSUP 69 QBSB DPa OFDUBS MPT EJTQPTJUJWPT EF BVEJP Z VO QVFSUP64#QBSBDPOFDUBSVOEJTQPTJUJa WP64#PJ1PE䛸 /05 $VBOEP VUJMJDF VO BQBSBUP EF BVEJP QPSU䜫UJM DPOFDUBEP B MB UPNB EF DPa SSJFOUF TFQVFEFOFTDVDIBSBMHVOPT $POUJO䝄B 4JTUFNBEFBVEJP
- 221. $POUJO䝄B SVJEPT EVSBOUF MBSFQSPEVDDJ䜽O 4J FTUP PDVSSF VUJMJDF FM TVNJOJTUSP EF DPSSJFOUF EFM BQBSBUP EF BVEJP QPSa U䜫UJM 䜉$䜽NPGVODJPOBFMFRVJQPEF BVEJPEFMWFI䜷DVMP 3FDFQDJ䜽O'. -BTTF䜻BMFTEFSBEJP.Z'.TFFNJUFO EFTEFMBTUPSSFTEFUSBOTNJTJ䜽ODPMPDBa EBTBMSFEFEPSEFTVDJVEBE4FJOUFSDFQa UBOQPSNFEJPEFMBBOUFOBEFSBEJPEF TVWFI䜷DVMP-BSBEJPSFDJCFFTUBTF䜻BMZ MBFOW䜷BBMPTBMUBWPDFTEFTVWFI䜷DVMP $VBOEP TF SFDJCF VOB TF䜻BM EF SBEJP GVFSUF MBJOHFOJFS䜷BQSFDJTBEFMTJTUFNB EF BVEJP HBSBOUJ[B MB NFKPS DBMJEBE EF SFQSPEVDDJ䜽O QPTJCMF /P PCTUBOUF FO BMHVOPTDBTPTMBTF䜻BMRVFTFSFDJCFOP FTMPTVGJDJFOUFNFOUFGVFSUFZDMBSB TUPTFQVFEFEFCFSBGBDUPSFTDPNPMB EJTUBODJBEFMBFNJTPSBEFSBEJP MBDFSa DBO䜷B B PUSBT FNJTPSBT EF SBEJP N䜫T GVFSUFT B MB FYJTUFODJB EF FEJGJDJPT QVFOUFTPPUSBTHSBOEFTPCTUSVDDJPOFT FOMB[POB 3FDFQDJ䜽O. -BT SFUSBOTNJTJPOFT . TF SFDJCFO B NBZPSFT EJTUBODJBT RVF MBT SFUSBOTNJa TJPOFT'.TUPTFEFCFBRVFMBTPOEBT EF SBEJP EF . TF USBOTNJUFO B CBKBT GSFDVFODJBT TUBT POEBT EF SBEJP EF CBKBGSFDVFODJBQVFEFOTFHVJSMBDVSWBa UVSBEFMBUJFSSBNFKPSRVFWJBKBSFOM䜷a OFBSFDUBFOMBBUN䜽TGFSBEFN䜫T FTa RVJWBO MPT PCTU䜫DVMPT Z BT䜷 QSPQPSDJPa OBOVOBDPCFSUVSBEFTF䜻BMNFKPS 4JTUFNBEFBVEJP
- 222. NJTPSBEFSBEJP'. -BT SFUSBOTNJTJPOFT '.TF USBOTNJUFO BBMUBTGSFDVFODJBTZOPUPNBOMBDVSWB EF MB TVQFSGJDJF EF MB UJFSSB %FCJEP B FMMP MBTSFUSBOTNJTJPOFT'.TVFMFOFNa QF[BSBQFSEFSJOUFOTJEBEBDPSUBTEJTa UBODJBT EF MB FNJTPSB TJNJTNP MBT DPOTUSVDDJPOFT NPOUB䜻BTVPUSPTPCTa U䜫DVMPTBGFDUBOEFNBOFSBN䜫TG䜫DJMMBT TF䜻BMFT'.MMPBGFDUBBMBTDPOEJDJPOFT EFFTDVDIBZMFIBS䜷BDSFFSRVFTVSBEJP UJFOF QSPCMFNBT -BT TJHVJFOUFT DPOEJa DJPOFT TPO OPSNBMFT Z OP JOEJDBO VO QSPCMFNBEFMBSBEJP 䳜 UFOVBDJ䜽O .JFOUSBT FM WFI䜷DVMP WB BMFK䜫OEPTF EF MB FNJTPSB EF SBEJP MB TF䜻BMTFEFCJMJUBS䜫ZFMTPOJEPDPNFOa [BS䜫 B BUFOVBSTF $VBOEP FTUP PDVa SSF MFTVHFSJNPTRVFTFMFDDJPOFPUSB FNJTPSBN䜫TGVFSUF 䳜 0TDJMBDJ䜽OTU䜫UJDB -BT TF䜻BMFT '. E䜳CJMFT P MPT PCTU䜫DVMPT HSBOEFT FOa USF FM USBOTNJTPS Z MB SBEJP QVFEFO EJTUPSTJPOBSMBTF䜻BMDBVTBOEPSVJEPT EF PTDJMBDJ䜽O P FTU䜫UJDPT 3FEVDJS FM OJWFMEFBHVEPTQVFEFEJTNJOVJSFTUF FGFDUP IBTUB RVF FM PCTU䜫DVMP EFTBa QBSF[DB 䳜 *OUFSDBNCJP EF FNJTPSBT NFEJEB RVFMBTF䜻BM'.TFEFCJMJUB PUSBTF䜻BM DPO N䜫T QPUFODJB DFSDB EF MB NJTNB GSFDVFODJB QVFEF FNQF[BS B TPOBS MMPTFEFCFBRVFFMFRVJQPEFSBEJP IBTJEPDPODFCJEPQBSBDBQUBSMBTF䜻BM N䜫T DMBSB 4J FTUP PDVSSF TFMFDDJPOF PUSBFTUBDJ䜽ODPOTF䜻BMN䜫TGVFSUF 䳜 $BODFMBDJ䜽O EF W䜷BT N䝄MUJQMFT -BT TF䜻BMFTEFSBEJPRVFTFSFDJCFOEFTEF EJSFDDJPOFTEJGFSFOUFTQVFEFOQSPWPa DBSEJTUPSTJ䜽OVPTDJMBDJ䜽OTUPQVFEF PDVSSJSEFCJEPBVOBTF䜻BMSFGMFKBEBZ EJSFDUB EF MB NJTNB FTUBDJ䜽O P QPS TF䜻BMFT EF EPT FTUBDJPOFT DPO GSFa DVFODJBTQS䜽YJNBT4JFTUPPDVSSF TFa MFDDJPOFPUSBFTUBDJ䜽OIBTUBRVFFTUB DPOEJDJ䜽OIBZBGJOBMJ[BEP 4JTUFNBEFBVEJP
- 223. 6 6TPEFMN䜽WJMPEFMBQBSBUPFNJTPS ZSFDFQUPS $VBOEP TF VUJMJ[BVO N䜽WJM EFOUSP EFM WFI䜷DVMP QPES䜷B QSPEVDJSTF VO SVJEP QSPDFEFOUF EFM TJTUFNB EF BVEJP TUP OPTJHOJGJDBRVFFMFRVJQPFTU䜳EB䜻BEP O FTUF DBTP FNQMFF FM N䜽WJM MP N䜫T BMFKBEPQPTJCMFEFMFRVJQPEFBVEJP 5/$*䜝/ $VBOEP VUJMJDF VO TJTUFNB EF DPNVa OJDBDJ䜽ODPNPVOUFM䜳GPOPN䜽WJMPVO FRVJQP EF SBEJP EFOUSP EFM WFI䜷DVMP EFCF NPOUBSTF VOB BOUFOB FYUFSOB BQBSUF $VBOEP TF VTB VO UFM䜳GPOP N䜽WJMPVOBSBEJPT䜽MPDPOMBBOUFOB JOUFSOB QVFEFJOUFSGFSJSDPOFMTJTUFa NBFM䜳DUSJDPEFMWFI䜷DVMPZBGFDUBSEF GPSNB OFHBUJWB B MB TFHVSB PQFSBa DJ䜽OEFMWFI䜷DVMP %735/$* /P VTF FM UFM䜳GPOP N䜽WJM NJFOUSBT DPOEVDF%FU䜳OHBTFFOVOMVHBSTFa HVSPQBSBVUJMJ[BSFMUFM䜳GPOPN䜽WJM J1PE䛸 J1PE䛸FTVOBNBSDBSFHJTUSBEBEFQQMF *OD 5FDOPMPH䜷BJOBM䜫NCSJDB#MVFa UPPUI䛸 -BNBSDBZFMMPHP#MVFUPPUI䛸TPONBSa DBT DPNFSDJBMFT SFHJTUSBEBT QSPQJFEBE EF #MVFUPPUI䛸 4*( *OD Z MB VUJMJ[BDJ䜽O EFEJDIBTNBSDBTTFQSPEVDFCBKPMBTVa CMJDFODJB EF ,JB 0USBT NBSDBT Z OPNa CSFTDPNFSDJBMFTTPOMPTEFTVTQSPQJFa UBSJPTDPSSFTQPOEJFOUFT 4JTUFNBEFBVEJP
- 224.
- 225. $ $BSBDUFS䜷TUJDBTEFMFRVJQPEF BVEJP 6OJEBEQSJODJQBM 䳜5JQP 䳜5JQP# 䙓 -BT DBSBDUFS䜷TUJDBTSFBMFT EFM WFI䜷a DVMPQPES䜷BOEJGFSJSEFMBJNBHFO 䳜 3FQSPEVDF FM NPEP 3BEJP '. . 䳜 $BEBWF[RVFTFQVMTBFMCPU䜽O MB WFOUBOBFNFSHFOUFEFMNPEPSBa EJPTFNPTUSBS䜫PTFDFSSBS䜫 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP SBEJP OP TF NPTUSBS䜫 DVBOEP FM CPU䜽O 4561$-0$, BKVTUF SFMPK %JTQMBZ QBOUBMMB .PEFQPQVQ WFOUBOBFNFSHFOa UFEFNPEP FTU䜳FO0GG BQBHBa EP 䳜 3FQSPEVDFFMNPEP64# J1PE䛸 Z 69 䳜 $BEBWF[RVFTFQVMTBFMCPU䜽O MB WFOUBOBFNFSHFOUFEFMNPEPTPa QPSUFTTFWJTVBMJ[BS䜫PDFSSBS䜫 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP TPQPSUFT OP TF NPTUSBS䜫 DVBOEP FM CPU䜽O 4561$-0$, BKVTUF SFMPK %JTQMBZ QBOUBMMB .PEFQPQVQ WFOUBOBFNFSHFOa UFEFNPEP FTU䜳FO0GG BQBHBa EP MQVMTBSS䜫QJEBNFOUF 䳜 1BTBBMBQBOUBMMB4FUVQ DPOGJHVa SBDJ䜽O MQVMTBSZNBOUFOFSQVMTBEP 䳜 1BTBBMBQBOUBMMBEFBKVTUFEFMB IPSB MQVMTBSS䜫QJEBNFOUF 䳜 .PEP 3BEJP CVTDB MBT GSFDVFOa DJBTEFSFUSBOTNJTJ䜽O 䳜 .PEP .FEJB DBNCJB MB QJTUB FM BSDIJWPPFMU䜷UVMP FYDFQUP69 MQVMTBSZNBOUFOFSQVMTBEP 䳜 .PEP3BEJPMBGSFDVFODJBTFDPOa USPMB NFEJBOUF QBTP S䜫QJEBa NFOUF M MJCFSBS FM CPU䜽O EFTa QV䜳T EF QVMTBSMP Z NBOUFOFSMP QVMTBEP CVTDBMBTGSFDVFODJBTEF SFUSBOTNJTJ䜽O 䳜 .PEP .FEJB SFCPCJOB P BWBO[B S䜫QJEBNFOUF MB DBODJ䜽O FYDFQUP 69 .BOEP 䳜 .BOEP EF DPOFYJ䜽O DPOFDUB EFTDPOFDUBFMTVNJOJTUSPFM䜳DUSJDP BMQVMTBSFMNBOEP 䳜 .BOEPEFWPMVNFOBKVTUBFMWPa MVNFOBMHJSBSFMNBOEPBJ[RVJFSa EBEFSFDIB 䳜 5JQP 4JTUFNBEFBVEJP
- 226. 䳜 5JQP# 䳜 7JTVBMJ[BMPTNFO䝄TQBSBFMNPEP BDUVBM 䳜QBHBMBQBOUBMMB 䳜 $BEBWF[RVFTFQVMTBFMCPU䜽O MB QBOUBMMBTFDPONVUBDPNPTFJOa EJDBBDPOUJOVBDJ䜽O0GG䚑0O䚑 0GG # #$, BUS䜫T 䳜 1BTBBMBQBOUBMMBBOUFSJPS 䳜 .PEP64#CVTDBDBSQFUBT NBOEP 䳜 .PEP3BEJPDBNCJBEFGSFDVFODJB BM HJSBS FM NBOEP B EFSFDIB J[RVJFSEB 䳜 .PEP .FEJB CVTDB MBT DBODJPOFT BSDIJWPT BM HJSBS FM NBOEP B MB J[RVJFSEBEFSFDIB _ QSFTFMFDDJ䜽O MQVMTBSS䜫QJEBNFOUF 䳜 .PEP 3BEJP SFDJCF GSFDVFODJBT HSBCBEBT DBOBMFT 䳜 .PEP.FEJB 64# #PU䜽O 3153FQFUJS3FQFUJS DBSQFUB #PU䜽O 4)'- $BSQFUB BMFBa UPSJBMFBUPSJP 䳜 .PEP.FEJB J1PE䛸 #PU䜽O 3153FQFUJS #PU䜽O 4)'-MFBUPSJP 䳜 O FM DBTP EF MB WFOUBOB FNFSa HFOUF EF NFO䝄 TF TFMFDDJPOB FM NFO䝄EFMO䝄NFSP MQVMTBSZNBOUFOFSQVMTBEP 䳜 .PEP 3BEJP HSBCB GSFDVFODJBT DBOBMFT 4JTUFNBEFBVEJP
- 227.
- 228. $ $BSBDUFS䜷TUJDBTEFMFRVJQPEF BVEJP 6OJEBEQSJODJQBM 䳜5JQP$ 䳜5JQP% 䙓 -BT DBSBDUFS䜷TUJDBTSFBMFT EFM WFI䜷a DVMPQPES䜷BOEJGFSJSEFMBJNBHFO 䳜 3FQSPEVDF FM NPEP 3BEJP '. . 䳜 $BEBWF[RVFTFQVMTBFMCPU䜽O MB WFOUBOBFNFSHFOUFEFMNPEPSBa EJPTFNPTUSBS䜫PTFDFSSBS䜫 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP SBEJP OP TF NPTUSBS䜫 DVBOEP FM CPU䜽O 4561$-0$, BKVTUF SFMPK %JTQMBZ QBOUBMMB .PEFQPQVQ WFOUBOBFNFSHFOa UFEFNPEP FTU䜳FO0GG BQBHBa EP 䳜 3FQSPEVDF FM NPEP 64# J1PE䛸 #5VEJPZ69 䳜 $BEBWF[RVFTFQVMTBFMCPU䜽O MB WFOUBOBFNFSHFOUFEFMNPEPTPa QPSUFTTFWJTVBMJ[BS䜫PDFSSBS䜫 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP TPQPSUFT OP TF NPTUSBS䜫 DVBOEP FM CPU䜽O 4561$-0$, BKVTUF SFMPK %JTQMBZ QBOUBMMB .PEFQPQVQ WFOUBOBFNFSHFOa UFEFNPEP FTU䜳FO0GG BQBHBa EP 䳜 1BTBBMBQBOUBMMB1IPOF UFM䜳GPa OP 䳜 4J#MVFUPPUI䛸OPFTU䜫DPOFDUBEP TF NVFTUSB MB QBOUBMMB #MVFa UPPUI䛸 1BJS$POOFDUJPO FNQBSFa KBNJFOUPDPOFYJ䜽OEF#MVFUPPUI MQVMTBSS䜫QJEBNFOUF 䳜 .PEP 3BEJP CVTDB MBT GSFDVFOa DJBTEFSFUSBOTNJTJ䜽O 䳜 .PEP .FEJB DBNCJB MB QJTUB FM BSDIJWPPFMU䜷UVMP FYDFQUP69 MQVMTBSZNBOUFOFSQVMTBEP 䳜 .PEP3BEJPMBGSFDVFODJBTFDPOa USPMB NFEJBOUF QBTP S䜫QJEBa NFOUF M MJCFSBS FM CPU䜽O EFTa QV䜳T EF QVMTBSMP Z NBOUFOFSMP QVMTBEP CVTDBMBTGSFDVFODJBTEF SFUSBOTNJTJ䜽O 䳜 .PEP .FEJB SFCPCJOB P BWBO[B S䜫QJEBNFOUF MB DBODJ䜽O FYDFQUP #5VEJP 69 .BOEP 䳜 .BOEP EF DPOFYJ䜽O DPOFDUB EFTDPOFDUBFMTVNJOJTUSPFM䜳DUSJDP BMQVMTBSFMNBOEP 䳜 .BOEPEFWPMVNFOBKVTUBFMWPa MVNFOBMHJSBSFMNBOEPBJ[RVJFSa EBEFSFDIB 䳜 5JQP$ 4JTUFNBEFBVEJP
- 229. 䳜 5JQP% 䳜 7JTVBMJ[BMPTNFO䝄TQBSBFMNPEP BDUVBM MQVMTBSS䜫QJEBNFOUF 䳜1BTBBMBQBOUBMMB4FUVQ DPOGJHVa SBDJ䜽O MQVMTBSZNBOUFOFSQVMTBEP 䳜 1BTBBMBQBOUBMMBEFBKVTUFEFMB IPSB 䳜 1BTBBMBQBOUBMMBBOUFSJPS 䳜 .PEP64#CVTDBDBSQFUBT NBOEP 䳜 .PEP3BEJPDBNCJBEFGSFDVFODJB BM HJSBS FM NBOEP B EFSFDIB J[RVJFSEB 䳜 .PEP .FEJB CVTDB MBT DBODJPOFT BSDIJWPT BM HJSBS FM NBOEP B MB J[RVJFSEBEFSFDIB _ QSFTFMFDDJ䜽O MQVMTBSS䜫QJEBNFOUF 䳜 .PEP 3BEJP SFDJCF GSFDVFODJBT HSBCBEBT DBOBMFT 䳜 .PEP.FEJB 64# #PU䜽O 3153FQFUJS3FQFUJS DBSQFUB #PU䜽O 4)'- $BSQFUB BMFBa UPSJBMFBUPSJP 䳜 .PEP.FEJB J1PE䛸 #PU䜽O 3153FQFUJS #PU䜽O 4)'-MFBUPSJP 䳜 O FM DBTP EF MB WFOUBOB FNFSa HFOUF EF NFO䝄 TF TFMFDDJPOB FM NFO䝄EFMO䝄NFSP MQVMTBSZNBOUFOFSQVMTBEP 䳜 .PEP 3BEJP HSBCB GSFDVFODJBT DBOBMFT .BOEPEFMWPMBOUF 4JTUFNBEFBVEJP
- 230. .PEFMPFRVJQBEPDPO#MVFUPPUI䛸 䙓 -BT DBSBDUFS䜷TUJDBTSFBMFT EFM WFI䜷a DVMPQPES䜷BOEJGFSJSEFMBJNBHFO . .0%0 䳜 $BEB WF[ RVF TF QVMTB FM NPEP DBNCJBTJHVJFOEPFTUBTFDVFODJB 䳜 4J FM TPQPSUF OP FTU䜫 DPOFDUBEP MPT NPEPT DPSSFTQPOEJFOUFT TF EFTBDUJWBS䜫O 䳜 1VMTF Z NBOUFOHB QVMTBEP QBSB FODFOEFSBQBHBS FM TJTUFNB EF BVEJP 䳜 $PO FM FRVJQP BQBHBEP QVMTF FM CPU䜽OQBSBWPMWFSBFODFOEFSMP 䳜 KVTUFFMWPMVNFO 䳜 MQVMTBSS䜫QJEBNFOUF .PEP3BEJPCVTDBMBTGSFDVFOa DJBT EF SFUSBOTNJTJ䜽O HVBSEBa EBTFOMPTQSFBKVTUFT .PEP.FEJBDBNCJBMBQJTUB FM BSDIJWP P FM U䜷UVMP FYDFQUP 69 䳜 MQVMTBSZNBOUFOFSQVMTBEP TJFTU䜫FRVJQBEP .PEP 3BEJP MB GSFDVFODJB TF DPOUSPMBNFEJBOUFQBTPS䜫QJa EBNFOUF M MJCFSBS FM CPU䜽O EFTQV䜳T EF QVMTBSMP Z NBOUFa OFSMP QVMTBEP CVTDB MBT GSFa DVFODJBTEFSFUSBOTNJTJ䜽O .PEP.FEJBSFCPCJOBPBWBOa [BS䜫QJEBNFOUFMBDBODJ䜽O FYa DFQUP#5VEJP 69 䳜 4JMFODJBFMWPMVNFOEFMBVEJP 䳜 $VBOEP VOB MMBNBEB FTU䜫 BDUJWB FM WPMVNFO EFM NJDS䜽GPOP TF TJa MFODJB TJFTU䜫FRVJQBEP $ $-- MMBNBS TJFTU䜫FRVJQBEP 䳜 MQVMTBSS䜫QJEBNFOUF .VFTUSB FM 䝄MUJNP O䝄NFSP NBSDBEP 4J TF QVMTB FO MB QBOUBMMB EF FOUSBEB EF VOB MMBNBEB SFTa QPOEFBMBMMBNBEB 4JTFQVMTBNJFOUSBTTFFTQFSB VOBMMBNBEB DPONVUBBMBMMBa NBEBFOFTQFSB 䳜 MQVMTBSZNBOUFOFSQVMTBEP -MBNB BM 䝄MUJNP O䝄NFSP NBSa DBEP TJFTU䜫FRVJQBEP $VBOEP TF QVMTB EVSBOUF VOB MMBNBEBDPONBOPTMJCSFT#MVFa UPPUI䛸 QBTBMBMMBNBEBBMEJTa QPTJUJWP#MVFUPPUI䛸 NPEPQSJa WBEP $VBOEP TF QVMTB EVSBOUF VOB MMBNBEBFOFMEJTQPTJUJWP#MVFa UPPUI䛸 QBTBMBMMBNBEBBMNBa OPTMJCSFT#MVFUPPUI䛸 4J#MVFUPPUI䛸OPFTU䜫DPOFDUBa EP TF NVFTUSB MB QBOUBMMB #MVFUPPUI䛸 1BJS$POOFDUJPO FNQBSFKBNJFOUPDPOFYJ䜽O EF #MVFUPPUI /% GJOBMJ[BS TJFTU䜫FRVJQBEP 䳜 M QVMTBSMP EVSBOUF VOB MMBNBEB GJOBMJ[BMBMMBNBEBEFUFM䜳GPOP 䳜 M QVMTBSMP FO MB QBOUBMMB EF MMBa NBEBFOUSBOUF SFDIB[BMBMMBNBa EB %735/$* EWFSUFODJBT EF TFHVSJEBE EFM TJTUFNBEFBVEJP $POUJO䝄B 4JTUFNBEFBVEJP
- 231. $POUJO䝄B 䳜 /PTFRVFEFNJSBOEPMBQBOUBMMBGJa KBNFOUF NJFOUSBTDPOEVDF .JSBS MBQBOUBMMBEVSBOUFVOUJFNQPQSPa MPOHBEPQPES䜷BDBVTBSVOBDDJEFOUF EFUS䜫GJDP 䳜 /PEFTNPOUF NPOUFOJNPEJGJRVF FM TJTUFNB EF BVEJP MMP QPES䜷B DBVTBSVOBDDJEFOUF VOJODFOEJPP VOBEFTDBSHBFM䜳DUSJDB 䳜 6TBSFMUFM䜳GPOPNJFOUSBTDPOEVDF QPES䜷BEJTUSBFSMFMBBUFODJ䜽OEFMBT DPOEJDJPOFTEFUS䜫GJDPZBVNFOUBS FMSJFTHPEFBDDJEFOUFTUBDJPOFFM WFI䜷DVMPBOUFTEFVTBSFMUFM䜳GPOP 䳜 1SFTUFBUFODJ䜽OQBSBOPEFSSBNBS BHVB OJ JOUSPEVDJS DVFSQPT FYUSBa 䜻PT FO FM EJTQPTJUJWP MMP QPES䜷B DBVTBSIVNP VOJODFOEJPPFMGBMMP EFMQSPEVDUP 䳜 /PVTBSTJMBQBOUBMMBFTU䜫FOCMBOa DPPOPTFFTDVDIBOJOH䝄OTPOJEP ZB RVF FMMP QPES䜷B JOEJDBS VO GBMMP EF GVODJPOBNJFOUP 6O VTP DPOUJa OVBEPFOFTUBTDPOEJDJPOFTQPES䜷B DBVTBSVOBDDJEFOUF JODFOEJP EFTa DBSHB FM䜳DUSJDB P VO GBMMP EF GVOa DJPOBNJFOUP $POUJO䝄B $POUJO䝄B 䳜 /P UPRVF MB BOUFOB EVSBOUF VOB UPSNFOUB DPO USVFOPT P SFM䜫NQBa HPT ZBRVFQPES䜷BDBVTBSVOBEFTa DBSHBFM䜳DUSJDBJOEVDJEBQPSVOSFa M䜫NQBHP 䳜 /PTFEFUFOHBOJFTUBDJPOFFMWFI䜷a DVMP FO [POBT EF FTUBDJPOBNJFOUP SFTUSJOHJEP QBSB BDDJPOBS FM QSPa EVDUP MMP QPES䜷B DBVTBS VO BDDJa EFOUFEFUS䜫GJDP 䳜 6TFFMTJTUFNBDPOFMFODFOEJEPEFM WFI䜷DVMPDPOFDUBEP6OVTPQSPMPOa HBEPDPOFMFODFOEJEPEFTDPOFDUBa EPQPES䜷BEFTDBSHBSMBCBUFS䜷B %735/$* $POEVDDJ䜽OEJTUSB䜷EB 4J TF EJTUSBF BM DPOEVDJS QPES䜷B QFSa EFSFMDPOUSPMEFMWFI䜷DVMPZQSPWPDBS VOBDDJEFOUF TVGSJFOEPMFTJPOFTHSBa WFT P MB NVFSUF -B SFTQPOTBCJMJEBE QSJODJQBM EFM DPOEVDUPS FT MB PQFSBa DJ䜽O TFHVSB EFM WFI䜷DVMP FO DVNQMJa NJFOUPEFMBOPSNBUJWBWJHFOUF QPS MP RVF MPT EJTQPTJUJWPT EF NBOP PUSPTFRVJQPTPTJTUFNBTEFMWFI䜷DVMP $POUJO䝄B $POUJO䝄B RVF SFRVJFSFO MB BUFODJ䜽O WJTVBM EFM DPOEVDUPSZMPEJTUSBFOEFMBPQFSBa DJ䜽OTFHVSBEFMWFI䜷DVMPPRVFOPFTa U䜫OQFSNJUJEPTMFHBMNFOUFOPEFCFa S䜫O VUJMJ[BSTF OVODB EVSBOUF MB DPOa EVDDJ䜽O 5/$*䜝/ 䳜 4J BDDJPOB FM EJTQPTJUJWP NJFOUSBT DPOEVDF QPES䜷BDBVTBSVOBDDJEFOa UF QPS GBMUB EF BUFODJ䜽O B MP RVF PDVSSFBTVBMSFEFEPSTUBDJPOFFM WFI䜷DVMP BOUFT EF BDDJPOBS FM EJTa QPTJUJWP 䳜 KVTUF FM WPMVNFO B OJWFMFT RVF QFSNJUBOBMDPOEVDUPSFTDVDIBSMPT TPOJEPTEFMFYUFSJPSEFMWFI䜷DVMP4J DPOEVDFTJOQPEFSFTDVDIBSMPTTPa OJEPT FYUFSJPSFT QPES䜷B QSPWPDBS VOBDDJEFOUF $POUJO䝄B 4JTUFNBEFBVEJP
- 232. $POUJO䝄B 䳜 1SFTUFBUFODJ䜽OBMBKVTUFEFMWPMVa NFO BMDPOFDUBS FM EJTQPTJUJWP 6O TPOJEPSFQFOUJOPFYUSFNBEBNFOUF BMUP BM DPOFDUBS FM EJTQPTJUJWP QPa ES䜷BDBVTBSMFEJTDBQBDJEBEBVEJUJWB KVTUF FM WPMVNFO B OJWFMFT BEFa DVBEPTBOUFTEFBQBHBSFMEJTQPTJa UJWP 䳜 4JEFTFBDBNCJBSMBQPTJDJ䜽OEFJOTa UBMBDJ䜽O EFM EJTQPTJUJWP QSFHVOUF FOTVMVHBSEFDPNQSBPFOVODFOa USP EF NBOUFOJNJFOUP 4F SFRVJFa SFO DPOPDJNJFOUPT U䜳DOJDPT QBSB JOTUBMBSPEFTNPOUBSFMEJTQPTJUJWP 䳜 $POFDUF FM FODFOEJEP EFM WFI䜷DVMP BOUFTEFVTBSFTUFEJTQPTJUJWP/P PQFSFFMTJTUFNBEFBVEJPEVSBOUF MBSHPT EF QFSJPEPT EF UJFNQP DPO FMFODFOEJEPEFTDPOFDUBEP ZBRVF QPES䜷BEFTDBSHBSMBCBUFS䜷B 䳜 /P TPNFUB FM EJTQPTJUJWP B HPMQFT OJ JNQBDUPT GVFSUFT 4J TF FKFSDF QSFTJ䜽O EJSFDUBNFOUF FO MB QBSUF GSPOUBMEFMBQBOUBMMBQPES䜷BEB䜻BS FM-$%PMBQBOUBMMBU䜫DUJM $POUJO䝄B $POUJO䝄B 䳜 MMJNQJBSFMEJTQPTJUJWP BTFH䝄SFTF EFBQBHBSMPZVTFVOQB䜻PTVBWFZ TFDP /P VUJMJDF OVODB NBUFSJBMFT 䜫TQFSPT QB䜻PT RV䜷NJDPT OJ EJTPMa WFOUFT BMDPIPM CFODFOP EJMVZFOa UFT FUD FTUPTNBUFSJBMFTQPES䜷BO EB䜻BS FM QBOFM EFM EJTQPTJUJWP P QSPWPDBSFMEFUFSJPSPEFMDPMPSPEF MBDBMJEBE 䳜 /PDPMPRVFCFCJEBTDFSDBEFMTJTUFa NBEFBVEJPODBTPEFEFSSBNBS CFCJEBT QPES䜷B DBVTBS VO GBMMP EFM TJTUFNB 䳜 ODBTPEFGBMMPEFGVODJPOBNJFOUP EFMQSPEVDUP Q䜽OHBTFFODPOUBDUP DPOTVMVHBSEFDPNQSBPVODFOUSP EFBUFODJ䜽OBMDMJFOUF 䳜 4J FM TJTUFNB EF BVEJP TF FODVFOa USBFOVOFOUPSOPFMFDUSPNBHO䜳UJa DP FMMPQPES䜷BQSPEVDJSSVJEPEFJOa UFSGFSFODJBT 䳜 WJUF RVF QFSGVNFT P DPTN䜳UJDPT UPRVFOFMTBMQJDBEFSPPFMHVBSOFa DJEP EF MB QVFSUB QPSRVF QPES䜷BO DBVTBS EFTQFSGFDUPT P EFTDPMPSBa DJ䜽O 3BEJP .PEPSBEJP $BNCJBSNPEPCPU䜽O 䳜 3FQSPEVDF FM NPEP 3BEJP $BEB WF[ RVF TF QVMTB FM CPU䜽O MB WFOUBOB FNFSHFOUF EFM NPEP SBEJP TF NPTa USBS䜫PTFDFSSBS䜫 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP SBa EJP OP TF NPTUSBS䜫 DVBOEP FM CPU䜽O %JTQMBZ QBOUBMMB .PEF QPQVQ WFOUBOBFNFSHFOUFEFNPEP FTU䜳FO0GG BQBHBEP #VTDBSGSFDVFODJBCPU䜽O 䳜 #VTDB MBT GSFDVFODJBT EF SFUSBOTNJa TJ䜽OBOUFSJPSFTQPTUFSJPSFT 䳜 1VMTBSFMCPU䜽OCVTDBMBTGSFDVFODJBT EFSFUSBOTNJTJ䜽O 䳜 -BGSFDVFODJBTFDPOUSPMBNFEJBOUF QBTPS䜫QJEBNFOUFMMJCFSBSFMCPU䜽O EFTQV䜳T EF QVMTBSMP Z NBOUFOFSMP QVMTBEP CVTDBMBTGSFDVFODJBTEFSFa USBOTNJTJ䜽O $BNCJBSMBGSFDVFODJBNBOEP $BNCJBEFGSFDVFODJBBMHJSBSFMNBOEP B MB J[RVJFSEBEFSFDIB 1VFEF CVTDBS MBTGSFDVFODJBTEJTQPOJCMFTNBOVBMNFOa UF 4JTUFNBEFBVEJP
- 233. ' 'SFDVFODJB HVBSEBEB CPUPOFT _ QSFBKVTUF 䳜 1VMTBSFMCPU䜽OSFQSPEVDFMBGSFDVFOa DJB HVBSEBEB FO FM CPU䜽O DPSSFTQPOa EJFOUF 䳜 1VMTBS Z NBOUFOFS QVMTBEP FM CPU䜽O HVBSEB MB SFUSBOTNJTJ䜽O RVF TF FTU䜫 SFQSPEVDJFOEPBDUVBMNFOUFFOFMCPa U䜽OTFMFDDJPOBEPZTVFOBVOQJUJEP '.. DPO3%4 '.. TJO3%4 .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O OVODJPTEFUS䜫GJDP QBSBNPEFMP3%4 DUJWBDJ䜽OEFTBDUJWBDJ䜽O EF MB GVODJ䜽O EF5 BOVODJPTEFUS䜫GJDP 1SFBKVTUFT QBSBNPEFMP3%4 .VFTUSBMPTQSFBKVTUFTHVBSEBEPT (VBSEBEPBVUPN䜫UJDP 䳜 (SBCBMBTSFUSBOTNJTJPOFTDPOMBNFa KPSSFDFQDJ䜽OFOMPTCPUPOFT_ 䳜 4JOPTFSFDJCFOGSFDVFODJBT TFFTDVa DIBS䜫MB䝄MUJNBGSFDVFODJBSFDJCJEB YQMPSBS -BGSFDVFODJBEFFNJTJ䜽OBVNFOUBZTF SFQSPEVDF CSFWFNFOUF DBEB FNJTPSB EVSBOUF TFHVOEPT 5SBT FYQMPSBS UPa EBT MBT GSFDVFODJBT SFHSFTB B MB GSFa DVFODJBEFMBFNJTPSBBDUVBMZMBSFQSPa EVDF KVTUFTEFTPOJEP 1BTBBMPTBKVTUFTEFTPOJEP .FEJPT /05 6TPEF.1 'PSNBUPTEFBVEJPBENJUJEPT 'PSNBUPT EF BVEJP DPNQSJNJa EPT .1(VEJP-BZFS .1(VEJP-BZFS .1(VEJP-BZFS 8JOEPXT .FEJB VEJP 7FS9Z9 4JTUFNBEFBVEJP
- 234. / /05 -PT GPSNBUPT EFBSDIJWPT RVF OP DVNQMBO MP BSSJCB NFODJPOBEP QPa ES䜷BOOPSFDPOPDFSTFDPSSFDUBNFOUF P SFQSPEVDJSTF TJO NPTUSBS FM OPNa CSFEFBSDIJWPVPUSBJOGPSNBDJ䜽O 4PQPSUFQBSBBSDIJWPTDPNQSJNJEPT 5BTBTEFCJUTTPQPSUBEBT ,CQT .1( .1( .1( 8. 54 % #*54 LCQT -Ba ZFS -Ba ZFS -Ba ZFS (BNB BMUB 'SFDVFODJBTEFCBSSJEP )[ .1( .1( .1( 8. .1( .1( .1( 8. 䳜 1BSB BSDIJWPT EF DPNQSFTJ䜽O .18. TFQSPEVDJS䜫OEJGFSFOa DJBT FO MB DBMJEBE EF TPOJEP EFa QFOEJFOEPEFMBTUBTBTEFCJUT NBZPS UBTB EF CJUT QVFEF PCUFa OFSTFVOBNFKPSDBMJEBEEFTPOJa EP 䳜 TUFEJTQPTJUJWPTPMPSFDPOPDFBSa DIJWPT DPO FYUFOTJPOFT .1 8. 0USBT FYUFOTJPOFT QPES䜷BO OPSFDPOPDFSTFDPSSFDUBNFOUF /䝄NFSPN䜫YJNPEFDBSQFUBTZBSa DIJWPTSFDPOPDJEPT 䳜 $BSQFUBDBSQFUBTQBSB64# 䳜 SDIJWPBSDIJWPTQBSB64# 䳜 /PIBZM䜷NJUFEFMO䝄NFSPEFOJWFa MFTEFDBSQFUBTSFDPOPDJEPT 7JTVBMJ[BDJ䜽O EF UFYUP CBTBEP FO 6OJDPEF 䳜 /PNCSFTEFBSDIJWPTN䜫YJNP DBSBDUFSFTFOJOHM䜳T 䳜 /PNCSFTEFDBSQFUBTN䜫YJNP DBSBDUFSFTFOJOHM䜳T 4JTUFNBEFBVEJP
- 235. / /05 M VTP EFMB GVODJ䜽O EF EFTQMB[Ba NJFOUP EFM UFYUP QFSNJUF WFS FM OPNCSFDPNQMFUPEFMPTBSDIJWPTFO DBTPEFTFSEFNBTJBEPMBSHP TJFTU䜫 FRVJQBEP -FOHVBKFT BENJUJEPT TF BENJUF 6OJDPEF 䳜 $PSFBOPDBSBDUFSFT 䳜 *OHM䜳TDBSBDUFSFT 䳜 $BSBDUFSFTEFDIJOPDPN䝄ODBa SBDUFSFT 䳜 4䜷NCPMPTFTQFDJBMFTDBSBDUFSFT /05 /PTFBENJUFODBSBDUFSFTKBQPOFTFT OJEFDIJOPTJNQMJGJDBEP /05 6TPEFMPTEJTQPTJUJWPT64# $POUJO䝄B $POUJO䝄B 䳜 $POFDUFFMEJTQPTJUJWP64#EFTQV䜳T EFBSSBODBSFMNPUPSMEJTQPTJUJWP 64#QPES䜷BEB䜻BSTFTJZBFTU䜫DPa OFDUBEP BM DPOFDUBS FM FODFOEJEP M EJTQPTJUJWP 64# QPES䜷B OP GVOa DJPOBS DPSSFDUBNFOUF TJ FM FODFOa EJEPEFMWFI䜷DVMPTFDPOFDUBPEFTa DPOFDUBDPOFMEJTQPTJUJWP64#DPa OFDUBEP 䳜 1SFTUF BUFODJ䜽O B MB FMFDUSJDJEBE FTU䜫UJDBBMDPOFDUBSZEFTDPOFDUBS EJTQPTJUJWPT64# 䳜 /PTFSFDPOPDFS䜫OMPTSFQSPEVDUPa SFT.1DPEJGJDBEPTDVBOEPTFDPa OFDUFO DPNP EJTQPTJUJWPT FYUFSa OPT 䳜 MDPOFDUBSVOEJTQPTJUJWP64#FYa UFSOP FMTJTUFNBEFBVEJPEFMWFI䜷a DVMPQVFEFOPSFDPOPDFSFM64#FO GVODJ䜽OEFMGJSNXBSFRVFVUJMJDFFM EJTQPTJUJWP64#PMPTBSDIJWPTFOFM 64# $POUJO䝄B $POUJO䝄B 䳜 4PMP TF SFDPOPDFS䜫O QSPEVDUPT GPSNBUFBEPDPOCZUFTFDUPSFTQPS EFCBKPEF,CZUF 䳜 TUFEJTQPTJUJWPSFDPOPDFEJTQPTJUJa WPT 64# FO GPSNBUPT EF BSDIJWP '5 TUF EJTQPTJUJWP OP SFDPOPDF BSDIJWPT FO GPSNBUP /5'4 䳜 MHVOPT EJTQPTJUJWPT 64# QPES䜷BO OPFTUBSTPQPSUBEPTQPSUFNBTEF DPNQBUJCJMJEBE 䳜 WJUFRVFFMDPOFDUPS64#FOUSFFO DPOUBDUP DPO QBSUFT EFM DVFSQP P DPODVFSQPTFYUSB䜻PT 䳜 $POFDUBS Z EFTDPOFDUBS SFQFUJEBa NFOUF EJTQPTJUJWPT 64# FO DPSUPT QFSJPEPT EF UJFNQP QPES䜷B DBVTBS GBMMPTEFGVODJPOBNJFOUP 䳜 MEFTDPOFDUBSVO64#QPES䜷BQSPa EVDJSTFVOSVJEPFYUSB䜻P $POUJO䝄B 4JTUFNBEFBVEJP
- 236. $POUJO䝄B 䳜 TFH䝄SFTF EFDPOFDUBS Z EFTDPa OFDUBS EJTQPTJUJWPT 64# FYUFSOPT DPOFMTJTUFNBEFBVEJPEFTDPOFDa UBEP 䳜 MQFSJPEPEFUJFNQPOFDFTBSJPQBa SB SFDPOPDFS VO EJTQPTJUJWP 64# QVFEFEJGFSJSEFQFOEJFOEPEFMUJQP UBNB䜻PPGPSNBUPEFMPTBSDIJWPT HVBSEBEPTFOFM64#%JDIBTEJGFa SFODJBT EF UJFNQP OP JOEJDBO OJOa H䝄OUJQPEFGBMMPEFGVODJPOBNJFOa UP 䳜 M TJTUFNB EF BVEJP EFM WFI䜷DVMP TPMP BENJUF EJTQPTJUJWPT 64# VTBa EPT QBSB SFQSPEVDJS BSDIJWPT EF N䝄TJDB 䳜 /PTFTPQPSUBO64#DPOJN䜫HFOFT PW䜷EFPT 䳜 /PVTFMBJOUFSGB[64#QBSBDBSHBS CBUFS䜷BTPBDDFTPSJPT64#RVFHFa OFSFODBMPSTUPQVFEFEBSMVHBSB VO SFOEJNJFOUP SFEVDJEP P EB䜻PT FOFMTJTUFNBEFBVEJP $POUJO䝄B $POUJO䝄B 䳜 MTJTUFNBEFBVEJPQVFEFOPSFDPa OPDFS FM EJTQPTJUJWP 64# TJ MPT DBa CMFT EF FYUFOTJ䜽O Z MPT QVFSUPT 64#TFIBODPNQSBEPQPSTFQBSBa EP $POFDUF FM EJTQPTJUJWP 64# EJa SFDUBNFOUF BM QVFSUP 64# EFM WFa I䜷DVMP 䳜 M VTBS EJTQPTJUJWPT 64# EF BMNBa DFOBNJFOUP NBTJWP DPO VOJEBEFT M䜽HJDBTTFQBSBEBT TPMPQVFEFOSFa QSPEVDJSTF BSDIJWPT HVBSEBEPT FO MBVOJEBESB䜷[ 䳜 -PT BSDIJWPT OP QVFEFO GVODJPOBS DPSSFDUBNFOUFTJTFIBOJOTUBMBEP QSPHSBNBTEFBQMJDBDJ䜽OFOFM64# 䳜 MTJTUFNBEFBVEJPQPES䜷BOPGVOa DJPOBS DPSSFDUBNFOUF TJ IBZ DPa OFDUBEPT BM NJTNP SFQSPEVDUPSFT .1 UFM䜳GPOPT N䜽WJMFT D䜫NBSBT EJHJUBMFTVPUSPTEJTQPTJUJWPTFMFDa US䜽OJDPT EJTQPTJUJWPT64#OPSFDPa OPDJEPT DPNP VOJEBEFT EF EJTDP QPSU䜫UJMFT $POUJO䝄B $POUJO䝄B 䳜 O BMHVOPT WFI䜷DVMPT OP TF QVFEF SFBMJ[BS MB DBSHB EF EJTQPTJUJWPT N䜽WJMFTBUSBW䜳TEFM64# 䳜 M EJTQPTJUJWP QVFEF OP BENJUJS FM GVODJPOBNJFOUP OPSNBM DVBOEP VTFVOEJTQPTJUJWPEFNFNPSJB64# BU䜷QJDP NJOJBUVSB MMBWFSP FUD 1BSB PCUFOFS NFKPSFT SFTVMUBEPT VTF VO EJTQPTJUJWP 64# U䜷QJDP RVF UFOHBVOBGVOEBNFU䜫MJDB 䳜 M EJTQPTJUJWP QPES䜷B OP GVODJPOBS DPSSFDUBNFOUF BM VTBS GPSNBUPT DPNPUJQP)%% $'PNFNPSJBT4% 䳜 MEJTQPTJUJWPOPFTDPNQBUJCMFDPO BSDIJWPT CMPRVFBEPT QPS %3. HFTUJ䜽OEFEFSFDIPTEJHJUBM 䳜 -PT M䜫QJDFT EF NFNPSJB 64# DPa OFDUBEPTQPSBEBQUBEPS UJQP4%P UJQP $' QPES䜷BO OP SFDPOPDFSTF DPSSFDUBNFOUF $POUJO䝄B 4JTUFNBEFBVEJP
- 237. $POUJO䝄B 䳜 M EJTQPTJUJWPQPES䜷B OP GVODJPOBS DPSSFDUBNFOUFBMVTBS64#)%%TP 64#T TVKFUPT B GBMMPT EF DPOFYJ䜽O DBVTBEPTQPSWJCSBDJPOFTEFMWFI䜷a DVMP 䳜 WJUFVTBSQSPEVDUPT EFNFNPSJB64#RVF QVFEBOVTBSTFUBNa CJ䜳ODPNPMMBWFSPTP BDDFTPSJPTQBSBN䜽a WJM6TBSFTUPTQSPa EVDUPTQPES䜷BEB䜻BS MBDMBWJKB64# 䳜 $POFDUBS VO EJTQPTJUJWP .1 P VO UFM䜳GPOP QPS WBSJPT DBOBMFT DPNP 69#5 P BVEJP64# QPES䜷B DBVa TBS SVJEPT P VO GVODJPOBNJFOUP BOPSNBM 䳜 6UJMJDF EJTQPTJUJWPT 64# QBSB MPHSBSVOBNFKPSDPNQBUJCJMJEBEM UBNB䜻P N䜫YJNP BENJUJEP EFM EJTa QPTJUJWPFTEF(# /05 6UJMJ[BDJ䜽OEFMJ1PE䛸 䳜 J1PE䛸FTVOBNBSDBSFHJTUSBEBEF QQMF*OD 䳜 1BSBVTBSFMJ1PE䛸FOFMTJTUFNBEF BVEJP EF TV WFI䜷DVMP EFCF VUJMJ[BS VODBCMFFYDMVTJWPEFMJ1PE䛸 FMDBa CMF RVF TF TVNJOJTUSB BM DPNQSBS QSPEVDUPTJ1PE䛸J1IPOF䛸 䳜 4J FM J1PE䛸 TF DPOFDUB BM WFI䜷DVMP EVSBOUF MB SFQSPEVDDJ䜽O QPES䜷B QSPEVDJSTFVOSVJEPBHVEPEVSBOUF TFHVOEPT JONFEJBUBNFOUF EFTQV䜳TEFMBDPOFYJ䜽O4JFTQPTJa CMF DPOFDUF FM J1PE䛸 BM WFI䜷DVMP DPOFMJ1PE䛸QBSBEPFOQBVTB 䳜 $VBOEP FM FODFOEJEP EFM WFI䜷DVMP TFFODVFOUSBFO$$ BDDFTPSJPT V 0/ BDUJWBEP BMDPOFDUBSFMJ1PE䛸 DPOFMDBCMFEFMJ1PE䛸 FTUFDBSHBS䜫 FM J1PE䛸 B USBW䜳T EFM TJTUFNB EF BVEJPEFMWFI䜷DVMP $POUJO䝄B $POUJO䝄B 䳜 M DPOFDUBSMP DPO FM DBCMF EFM J1PE䛸 BTFH䝄SFTF EF JOUSPEVDJS DPNQMFUBNFOUFMBDMBWJKBQBSBFWJa UBSJOUFSGFSFODJBTFOMBDPNVOJDBa DJ䜽O 䳜 $VBOEP MBT DBSBDUFS䜷TUJDBT EFM FDVBMJ[BEPS EF VO EJTQPTJUJWP FYa UFSOP DPNPFMJ1PE䛸ZEFMTJTUFNB EF BVEJP FTU䜫O BDUJWBT BM NJTNP UJFNQP MPTFGFDUPTEFMFDVBMJ[BEPS QPES䜷BOTPMBQBSTFZDBVTBSVOEFa UFSJPSP EFM TPOJEP Z EJTUPSTJ䜽O 4J FTQPTJCMF EFTBDUJWFFMFDVBMJ[BEPS EFM EJTQPTJUJWP FYUFSOP TJ FTU䜫 DPa OFDUBEPBMTJTUFNBEFBVEJP 䳜 1PES䜷B QSPEVDJSTF SVJEP NJFOUSBT FMJ1PE䛸PVOEJTQPTJUJWP69FTU䜫O DPOFDUBEPT 4J OP TF VTBO EJDIPT EJTQPTJUJWPT EFTDPO䜳DUFMPTEFMEJTa QPTJUJWPZHV䜫SEFMPT $POUJO䝄B 4JTUFNBEFBVEJP
- 238. $POUJO䝄B 䳜 4JFMJ1PE䛸PFMEJTQPTJUJWP69FTa U䜫DPOFDUBEPBMBUPNBEFDPSSJFOa UF MB SFQSPEVDDJ䜽O EFM EJTQPTJUJWP FYUFSOPQPES䜷BQSPEVDJSSVJEPTO FTF DBTP EFTDPOFDUF MB DPOFYJ䜽O FM䜳DUSJDBBOUFTEFMVTP 䳜 1VFEFOQSPEVDJSTFTBMUPTPGVODJPa OBNJFOUP JODPSSFDUP EFQFOEJFOEP EFMBTDBSBDUFS䜷TUJDBTEFTVEJTQPa TJUJWPJ1PE䛸J1IPOF䛸 䳜 4JTVJ1IPOF䛸FTU䜫DPOFDUBEPUBOa UP BM #MVFUPPUI䛸 DPNP BM 64# FM TPOJEP QPES䜷B OP SFQSPEVDJSTF DPa SSFDUBNFOUFOTVJ1IPOF䛸 TFMFDa DJPOF FM DPOFDUPS %PDL P #MVFa UPPUI䛸 QBSB DBNCJBS MB TBMJEB EFM TPOJEP GVFOUF 䳜 MNPEPJ1PE䛸OPQVFEFBDDJPOBSa TF TJ OP TF SFDPOPDF FM J1PE䛸 QPS SFQSPEVDJSTF WFSTJPOFT OP DPNQBa UJCMFTDPOMPTQSPUPDPMPTEFDPNVa OJDBDJ䜽O Z FO DBTPT EF BOPNBM䜷BT ZEFGFDUPTEFMJ1PE䛸 $POUJO䝄B $POUJO䝄B 䳜 1BSB EJTQPTJUJWPT J1PE䛸 /BOP EF 䛴 HFOFSBDJ䜽O FM J1PE䛸 QPES䜷B OP SFDPOPDFSTFTJFMOJWFMEFMBCBUFS䜷B FT CBKP $BSHVF FM J1PE䛸 QBSB TV VTP 䳜 M PSEFO EF C䝄TRVFEBSFQSPEVDa DJ䜽OFOFMEJTQPTJUJWPJ1PE䛸QPES䜷B EJGFSJS EFM PSEFO NPTUSBEP FO FM TJTUFNBEFBVEJP 䳜 4J FM J1PE䛸 GVODJPOB JODPSSFDUBa NFOUFEFCJEPBVOEFGFDUPEFMEJTa QPTJUJWP J1PE䛸 SFJOJDJF FM J1PE䛸 F JOU䜳OUFMP EF OVFWP 1BSB N䜫T JOa GPSNBDJ䜽O WFB FM NBOVBM EFM J1PE䛸 䳜 MHVOPTJ1PE䛸QPES䜷BOOPTJODSPOJa [BSDPOFMTJTUFNBEFQFOEJFOEPEF MBWFSTJ䜽O4JTFEFTDPOFDUBFMNFa EJP BOUFT EF SFDPOPDFSTF FM NJTa NP FMTJTUFNBQPES䜷BOPSFDVQFSBS DPSSFDUBNFOUF FM NPEP PQFSBUJWP BOUFSJPS /P QVFEF VTBSTF QBSB DBSHBSFMJ1BE䛸 $POUJO䝄B $POUJO䝄B 䳜 6TFVODBCMFJ1PE䛸N䜫TDPSUPEF NFUSP EF MPOHJUVE DPNP FM DBCMF TVNJOJTUSBEPPSJHJOBMNFOUFDPOVO OVFWPJ1PE䛸 MPTDBCMFTN䜫TMBSHPT QPES䜷BOEBSMVHBSBRVFFMTJTUFNB EFBVEJPOPSFDPOP[DBFMJ1PE䛸 /05 6TP EF #MVFUPPUI䛸 #5 VEJP TJFTU䜫FRVJQBEP 䳜 M NPEP EF BVEJP DPO #MVFUPPUI䛸 TFQVFEFVUJMJ[BSTPMPDVBOEPTFIB DPOFDUBEPVOUFM䜳GPOP#MVFUPPUI䛸 䳜 M NPEP EF BVEJP DPO #MVFUPPUI䛸 OPFTUBS䜫EJTQPOJCMFTJTFDPOFDUBO UFM䜳GPOPTN䜽WJMFTRVFOPBENJUBO FTUBPQDJ䜽O 䳜 4JTFVUJMJ[BVOUFM䜳GPOPDPO#MVFa UPPUI䛸 QBSB SFQSPEVDJS N䝄TJDB Z SFDJCF VOB MMBNBEB P SFBMJ[B VOB MMBNBEB MBN䝄TJDBTFEFUFOES䜫 $POUJO䝄B 4JTUFNBEFBVEJP
- 239. $POUJO䝄B 䳜 .PWFSTF QPSMBT QJTUBT IBDJB BSSJa CBBCBKP EVSBOUF MB SFQSPEVDDJ䜽O FO FM NPEP BVEJP DPO #MVFUPPUI䛸 QPES䜷B DBVTBS SVJEPT FO BMHVOPT UFM䜳GPOPTN䜽WJMFT 䳜 MHVOPTUFM䜳GPOPTN䜽WJMFTQPES䜷BO OP BENJUJS MB SFQSPEVDDJ䜽O EF BVa EJPFOUJFNQPSFBMDPO#MVFUPPUI䛸 䳜 M WPMWFS BM NPEP BVEJP DPO #MVFa UPPUI䛸 EFTQV䜳T EF GJOBMJ[BS VOB MMBNBEB FM NPEP QPES䜷B OP BDUJa WBSTF BVUPN䜫UJDBNFOUF FO BMHVa OPTUFM䜳GPOPTN䜽WJMFT 䳜 -B SFDFQDJ䜽O P SFBMJ[BDJ䜽O EF VOB MMBNBEB EVSBOUF MB SFQSPEVDDJ䜽O DPO #MVFUPPUI䛸 EF BVEJP QPES䜷B DBVTBSJOUFSGFSFODJBTFOFMTJTUFNB EFBVEJP .PEP.FEJB $BNCJBSNPEPCPU䜽O 䳜 $BEB WF[ RVF TF QVMTB FM CPU䜽O MB WFOUBOB FNFSHFOUF EFM NPEP TPQPSa UFTTFWJTVBMJ[BS䜫PDFSSBS䜫 4F QVFEF TFMFDDJPOBS VO NFO䝄 FO MB WFOUBOBFNFSHFOUFEFNPEPDPOMPT CPUPOFT_ QSFBKVTUF PFMNBOa EP5 56/ BKVTUBS 䳜 -B WFOUBOB FNFSHFOUF EFM NPEP TPa QPSUFTOPTFNPTUSBS䜫DVBOEPFMCPa U䜽O %JTQMBZ QBOUBMMB .PEFQPQVQ WFOUBOBFNFSHFOUFEF NPEP FTU䜳FO0GG BQBHBEP 䳜 4J FM EJTQPTJUJWP EF TPQPSUFT 64# 69 FTU䜫 DPOFDUBEP B DPOUJOVBDJ䜽O GVODJPOBS䜫 BVUPN䜫UJDBNFOUF 5SBT EFTDPOFDUBSMP TFSFDVQFSBS䜫FMNPEP BOUFSJPS 䳜 M WPMVNFO EF VEJP#5 VEJP 69 UBNCJ䜳OTFQVFEFDPOUSPMBS 3FQFUJSCPU䜽O315 3FQJUF MB DBODJ䜽O BDUVBM P SFQJUF UPEBT MBTDBODJPOFTEFMBDBSQFUBBDUVBM 䳜 .PEPJ1PE䛸3FQFUJSDBODJ䜽O 3FQFa UJSEFTBDUJWBEP TJFTU䜫FRVJQBEP 䳜 .PEP64#3FQFUJSDBODJ䜽O 3FQFUJS DBSQFUB %FTBDUJWBEP MFBUPSJPCPU䜽O4)'- 3FQSPEVDF UPEBT MBT DBODJPOFT EF MB DBSQFUB BDUVBM DBUFHPS䜷B P SFQSPEVDF UPEBTMBTDBODJPOFTFOPSEFOBMFBUPSJP 䳜 .PEP J1PE䛸 5PEP FO BMFBUPSJP MFBUPSJPEFTBDUJWBEP 䳜 .PEP64#$BSQFUBBMFBUPSJB 5PEP BMFBUPSJP %FTBDUJWBEP $BNCJBS EF DBODJ䜽OBSDIJWP CPU䜽O #PU䜽O 䳜 1VMTBSFMCPU䜽OSFQSPEVDFMBDBODJ䜽O BDUVBMEFTEFFMQSJODJQJP 䳜 4JTFQVMTBEFOVFWPFMCPU䜽O BOUFTEFRVFUSBOTDVSSBOTFHVOEPT TFSFQSPEVDJS䜫MBDBODJ䜽OBOUFSJPS 䳜 1VMTBOEP Z NBOUFOJFOEP QVMTBEP FM CPU䜽OSFCPCJOBMBDBODJ䜽O #PU䜽O 䳜 1VMTBSFMCPU䜽OSFQSPEVDFMBDBODJ䜽O TJHVJFOUF 䳜 1VMTBS Z NBOUFOFS QVMTBEP FM CPU䜽O BWBO[BS䜫QJEBNFOUFMBDBODJ䜽O 4JTUFNBEFBVEJP
- 240. / /05 䳜 69 Z#5 VEJP OP BENJUFO MB GVODJ䜽OEFBWBODFZSFUSPDFTPS䜫a QJEP 䳜 TQPTJCMFRVFBMHVOPTEJTQPTJUJWPT #MVFUPPUI䛸 OP BENJUBO MB GVODJ䜽O EF DBNCJBS MB DBODJ䜽O BOUFSJPS TJHVJFOUF #VTDBSDBODJ䜽ONBOEP 䳜 (JSBOEP FM NBOEP TF CVTDBO MBTDBODJPOFT BSDIJWPT 䳜 1VMTBOEPFMNBOEP TFSFQSPa EVDFMBDBODJ䜽O BSDIJWP /05 䳜 #5VEJP J1PE䛸Z69OPBENJUFO MBGVODJ䜽OEFMBMJTUBEFSFQSPEVDa DJ䜽O 䳜 .JFOUSBT TF SFQSPEVDF #5 VEJP BMQVMTBSFMNBOEP56/ BKVTUBS TF SFQSPEVDF Z TF EFUJFOF MB DBOa DJ䜽OBDUVBM TJFTU䜫FRVJQBEP #VTDBSDBSQFUBCPU䜽O #VTDB MB DBSQFUB BOUFSJPSTJHVJFOUF 64# /05 4JTFTFMFDDJPOBVOBDBSQFUBQVMTBOa EP FM NBOEP 56/ BKVTUBS TF SFa QSPEVDJS䜫FMQSJNFSBSDIJWPEFMBDBSa QFUBTFMFDDJPOBEB 64# .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O -JTU MJTUB 1BTBBMBQBOUBMMBEFMBMJTUB 3FQFUJS 3FQJUFMBDBODJ䜽OBDUVBM1VMTFEFOVFWP QBSBEFTBDUJWBSMP 3FQFUJSDBSQFUB 3FQJUF MBT DBODJPOFT EF MB DBSQFUB BDa UVBM1VMTFEFOVFWPQBSBEFTBDUJWBSMP $BSQFUBBMFBUPSJB 3FQSPEVDF BMFBUPSJBNFOUF MBT DBODJPa OFTEFMBDBSQFUBBDUVBM1VMTFEFOVFWP QBSBEFTBDUJWBSMP 3FQSPEVDDJ䜽OBMFBUPSJB 3FQSPEVDF BMFBUPSJBNFOUF UPEBT MBT DBODJPOFT1VMTFEFOVFWPQBSBEFTBDUJa WBSMP *OGPSNBDJ䜽O .VFTUSB MB JOGPSNBDJ䜽O EF MB DBODJ䜽O BDUVBM KVTUFTEFTPOJEP 1BTBBMPTBKVTUFTEFTPOJEP 4JTUFNBEFBVEJP
- 241. J J1PE䛸 .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O -JTUMJTUB 1BTBBMBQBOUBMMBEFMBMJTUB 3FQFUJS 3FQJUFMBDBODJ䜽OBDUVBM1VMTFEFOVFWP QBSBEFTBDUJWBSMP 3FQSPEVDDJ䜽OBMFBUPSJB 3FQSPEVDFUPEBTMBTDBODJPOFTEFMBDBa UFHPS䜷B BDUVBM EF SFQSPEVDDJ䜽O QPS PSa EFOBMFBUPSJP1VMTFEFOVFWPQBSBEFa TBDUJWBSMP *OGPSNBDJ䜽O .VFTUSB MB JOGPSNBDJ䜽O EF MB DBODJ䜽O BDUVBM KVTUFTEFTPOJEP 1BTBBMPTBKVTUFTEFTPOJEP #MVFUPPUI䛸 #5 VEJP TJFTU䜫 FRVJQBEP .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O KVTUFTEFTPOJEP 1BTBBMPTBKVTUFTEFTPOJEP /05 䳜 O BMHVOPT EJTQPTJUJWPT #MVFa UPPUI䛸 FTQPTJCMFRVFFMBVEJPOP JOJDJF BVUPN䜫UJDBNFOUF MB SFQSPa EVDDJ䜽O4JOPTFSFQSPEVDFMBN䝄a TJDB FO FM EJTQPTJUJWP #MVFUPPUI䛸 EFTQV䜳T EF DBNCJBS FM NPEP EF USBOTGFSFODJB EF BVEJP QVMTF FM NBOEP56/ BKVTUBS 7FSJGJRVFTJ MBN䝄TJDBTFSFQSPEVDFFOFMEJTQPa TJUJWP#MVFUPPUI䛸EFTQV䜳TEFDBNa CJBS FM NPEP EF USBOTGFSFODJB EF BVEJP 䳜 TQPTJCMFRVFBMHVOPTEJTQPTJUJWPT #MVFUPPUI䛸OPBENJUBOMBUSBOTGFa SFODJBEFBVEJP 䳜 4J FM EJTQPTJUJWP #MVFUPPUI䛸 FTU䜫 EFTDPOFDUBEP #5VEJPGJOBMJ[B 䳜 4F SFRVJFSF VOB DPOFYJ䜽O #MVFa UPPUI䛸QBSBVUJMJ[BS#5VEJP1BSB PCUFOFSN䜫TJOGPSNBDJ䜽O DPOTVMUF FMNBOVBMEFM#MVFUPPUI䛸 4JTUFNBEFBVEJP
- 242. 69 .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O KVTUFTEFTPOJEP 1BTBBMPTBKVTUFTEFTPOJEP /05 䳜MNPEP69TPMPQVFEFVTBSTFTJ TF IB DPOFDUBEP VO SFQSPEVDUPS FYUFSOPEFBVEJP 䳜 4J TPMP VO DBCMF FTU䜫 DPOFDUBEP B 69 TJO VO EJTQPTJUJWP FYUFSOP FM NPEP DBNCJBS䜫 B 69 QFSP TF QVFEFQSPEVDJSSVJEP4JOPTFVTB OJOH䝄OEJTQPTJUJWPFYUFSOP EFTDPa OFDUFMBDMBWJKB $POUJO䝄B $POUJO䝄B 䳜 4J FM EJTQPTJUJWP FYUFSOP FTU䜫 DPa OFDUBEPBMBUPNBEFDPSSJFOUF MB SFQSPEVDDJ䜽O EFM NJTNP QPES䜷B QSPEVDJSSVJEPTOFTFDBTP EFTa DPOFDUFMBDPOFYJ䜽OFM䜳DUSJDBBOUFT EFMVTP 1IPOF UFM䜳GPOP TJFTU䜫 FRVJQBEP /05 6TP EFM UFM䜳GPOP #MVFUPPUI䛸 #5 䜉2V䜳FT#MVFUPPUI䛸 䳜 #MVFUPPUI䛸FTVOBUFDOPMPH䜷BJOBM䜫Na CSJDB B DPSUB EJTUBODJB RVF VTB VOB GSFDVFODJBEF ()[QBSBDPOFDUBS WBSJPTEJTQPTJUJWPTRVFTFFODVFOUSBO BVOBEJTUBODJBEFUFSNJOBEBFOUSFT䜷 䳜 -PT1$ EJTQPTJUJWPTFYUFSOPT UFM䜳GPa OPT DPO #MVFUPPUI䛸 MBT 1% WBSJPT EJTQPTJUJWPT FMFDUS䜽OJDPT Z FOUPSOPT EFBVUPNPDJ䜽OBENJUFOMBUFDOPMPH䜷B #MVFUPPUI䛸 QBSB USBOTNJUJS EBUPT B HSBOWFMPDJEBETJOOFDFTJEBEEFVUJMJa [BSVODBCMFEFDPOFYJ䜽O 䳜 MNBOPTMJCSFT#MVFUPPUI䛸TFSFGJFSF BVOEJTQPTJUJWPRVFQFSNJUFBMVTVBa SJP SFBMJ[BS MMBNBEBT D䜽NPEBNFOUF DPOMPTEJTQPTJUJWPT#MVFUPPUI䛸BUSBa W䜳TEFMTJTUFNBNVMUJNFEJB 䳜 T QPTJCMF RVF BMHVOPT EJTQPTJUJWPT #MVFUPPUI䛸 OP TFBO DPNQBUJCMFT DPO MB GVODJ䜽O EF NBOPT MJCSFT DPO #MVFa UPPUI䛸1BSBPCUFOFSN䜫JOGPSNBDJ䜽O BDFSDBEFMPTEFUBMMFTZMBDPNQBUJCJMJa EBE EF MPT EJTQPTJUJWPT RVF BENJUFO #MVFUPPUI䛸 WJTJUF IUUQLJBFVSPQF OFYUHFOUFDIOPMPHZOFU %735/$* $POEVDDJ䜽OEJTUSB䜷EB $POUJO䝄B 4JTUFNBEFBVEJP
- 243. $POUJO䝄B 䳜 $䜳OUSFTFFOMBDBSSFUFSBEVSBOUFMB DPOEVDDJ䜽O -BSFTQPOTBCJMJEBE QSJODJQBMEFMDPOEVDUPSFTMBPQFSBa DJ䜽OTFHVSBEFMWFI䜷DVMPFODVNQMJa NJFOUP EF MB OPSNBUJWB WJHFOUF -PTDPOEVDUPSFTOPEFCFOFNQMFBS MBTNBOPTQBSBTVKFUBSOJOH䝄OEJTa QPTJUJWPQPSU䜫UJMOJPUSPTFRVJQPTP TJTUFNBT EFM WFI䜷DVMP RVF EJTUSBJa HBOBMDPOEVDUPSEVSBOUFFMGVODJPa OBNJFOUPEFMWFI䜷DVMP 䳜 /PTFRVFEFNJSBOEPBMBQBOUBMMB NVMUJNFEJB EVSBOUF QFSJPEPT EF UJFNQPQSPMPOHBEPTNJFOUSBTDPOa EVDF.JSBSMBQBOUBMMBEVSBOUFVO QFSJPEPEFUJFNQPQSPMPOHBEPQPa ES䜷BDBVTBSVOBDDJEFOUFEFUS䜫GJDP ZQSPWPDBSMFTJPOFTQFSTPOBMFT 䳜 M FNQBSFKBNJFOUP EF EJTQPTJUJWPT #MVFUPPUI䛸 Z FM FNQMFP EF PUSBT DBSBDUFS䜷TUJDBT #MVFUPPUI䛸 OP TF BENJUFODVBOEPFMWFI䜷DVMPFTU䜫FO NPWJNJFOUP1PSNPUJWPTEFTFHVa SJEBE FOQSJNFSMVHBS FTUBDJPOFFM WFI䜷DVMP 5/$*䜝/ 1BSBVOBDPOEVDDJ䜽OTFHVSB 䳜 #MVFUPPUI䛸 FT VOB GVODJ䜽O RVF QFSNJUFRVFMPTDPOEVDUPSFTSFBMJa DFO MMBNBEBT DPO FM NBOPT MJCSFT -B DPOFYJ䜽O EF MB VOJEBE QSJODJQBM DPO VO UFM䜳GPOP DPO #MVFUPPUI䛸 QFSNJUF BM VTVBSJP SFBMJ[BS MMBNBa EBT SFDJCJSMMBNBEBTZDPOTVMUBSFM MJTU䜷O EF UFM䜳GPOPT D䜽NPEBNFOUF OUFT EF VTBS FM #MVFUPPUI䛸 MFB DPO BUFODJ䜽O FM DPOUFOJEP EF FTUF NBOVBMEFVTVBSJP 䳜 6OVTPFYDFTJWPVPQFSBDJPOFTEVa SBOUFMBDPOEVDDJ䜽OQPES䜷BOQSPWPa DBS VOB DPOEVDDJ䜽O OFHMJHFOUF Z TFSDBVTBEFBDDJEFOUFT/PPQFSF FMEJTQPTJUJWPFYDFTJWBNFOUFNJFOa USBTDPOEVDF 䳜 0CTFSWBS MB QBOUBMMB EVSBOUF VO UJFNQP QSPMPOHBEP FT QFMJHSPTP Z QPES䜷B DBVTBS VO BDDJEFOUF $VBOa EP DPOEV[DB PCTFSWF MB QBOUBMMB TPMPEVSBOUFCSFWFTNPNFOUPT 5/$*䜝/ 1BSB DPOFDUBS VO UFM䜳GPOP #MVFUPPUI䛸 䳜 OUFTEFDPOFDUBSMBVOJEBEQSJODJa QBM DPO FM EJTQPTJUJWP #MVFUPPUI䛸 WFSJGJRVF RVF FM EJTQPTJUJWP N䜽WJM TFB DPNQBUJCMF DPO MBT GVODJPOFT #MVFUPPUI䛸 䳜 VORVFFMUFM䜳GPOPN䜽WJMBENJUBMB UFDOPMPH䜷B#MVFUPPUI䛸 FTUFEJTQPa TJUJWPOPTFEFUFDUBS䜫BMSFBMJ[BSMB C䝄TRVFEB TJ FM EJTQPTJUJWP TF IB DPOGJHVSBEPDPNPPDVMUPPTJTFIB EFTBDUJWBEPMBGVODJ䜽O#MVFUPPUI䛸 %FTBDUJWFFMFTUBEPPDVMUPPDPOFDa UF FM #MVFUPPUI䛸 BOUFT EF CVTDBS DPOFDUBSMPBMBVOJEBEQSJODJQBM 䳜 4JVOEJTQPTJUJWPDPO#MVFUPPUI䛸TF EFTDPOFDUB QPSRVF TF FODVFOUSB GVFSBEFMBMDBODFEFDPNVOJDBDJ䜽O TF IB BQBHBEP P QPS VO FSSPS EF DPNVOJDBDJ䜽O #MVFUPPUI䛸 TF QSPa DFEFS䜫BVUPN䜫UJDBNFOUFBMBC䝄Ta RVFEBZSFDPOFYJ䜽OEFMPTEJTQPTJa UJWPT DPSSFTQPOEJFOUFT DPO #MVFa UPPUI䛸 $POUJO䝄B 4JTUFNBEFBVEJP
- 244. $POUJO䝄B 䳜 4JOPEFTFBMBDPOFYJ䜽OBVUPN䜫UJDB EF TVEJTQPTJUJWP DPO #MVFUPPUI䛸 EFTBDUJWFMBGVODJ䜽O#MVFUPPUI䛸FO TVEJTQPTJUJWPDPO#MVFUPPUI䛸 䳜 4PMP QVFEF DPOFDUBSTF VO EJTQPTJa UJWP#MVFUPPUI䛸BMBWF[ 䳜 -B DPOFYJ䜽O #MVFUPPUI䛸 QPES䜷B EFTDPOFDUBSTF EF GPSNB JOUFSNJa UFOUFFOBMHVOPTEJTQPTJUJWPT#MVFa UPPUI䛸 4JHB MPT TJHVJFOUFT QBTPT QBSBJOUFOUBSMPEFOVFWP DUJWF MB GVODJ䜽O #MVFUPPUI䛸 FO MB BDUJWBDJ䜽OEFTBDUJWBDJ䜽O EFM EJTQPTJUJWP#MVFUPPUI䛸FJOU䜳OUFa MPEFOVFWP DUJWFEFTBDUJWF MB BMJNFOUBDJ䜽O EFM EJTQPTJUJWP #MVFUPPUI䛸 F JOa U䜳OUFMPEFOVFWP YUSBJHBDPNQMFUBNFOUFMBCBUFa S䜷B EFM EJTQPTJUJWP #MVFUPPUI䛸 SFJOJDJF Z B DPOUJOVBDJ䜽O JOU䜳Oa UFMPEFOVFWP 3FJOJDJFFMTJTUFNBNVMUJNFEJBF JOU䜳OUFMPEFOVFWP $POUJO䝄B $POUJO䝄B MJNJOF UPEPT MPT EJTQPTJUJWPT FNQBSFKBEPTUBOUPEFMEJTQPTJUJa WP#MVFUPPUI䛸DPNPEFMBVOJEBE QSJODJQBMFJOU䜳OUFMPEFOVFWP 5/$*䜝/ M VUJMJ[BS FM UFM䜳GPOP #MVFa UPPUI䛸 䳜 4JFMEJTQPTJUJWP#MVFUPPUI䛸OPFTU䜫 DPOFDUBEP OP TF QVFEF BDUJWBS FM NPEPUFM䜳GPOP%FTQV䜳TEFDPOFDa UBSFMEJTQPTJUJWP#MVFUPPUI䛸BMWFa I䜷DVMP VUJMJDF MBT GVODJPOFT #MVFa UPPUI䛸 䳜 1PES䜷B OP TFS DBQB[ EF VUJMJ[BS MB DBSBDUFS䜷TUJDBEFNBOPTMJCSFTTJFM UFM䜳GPOP FTU䜫 GVFSB EF MB [POB EF TFSWJDJP EFM N䜽WJM QPS FKFNQMP FO VO U䝄OFM FO FM TVCTVFMP FO VOB [POBNPOUB䜻PTB FUD $POUJO䝄B $POUJO䝄B 䳜 4JMBTF䜻BMEFMUFM䜳GPOPN䜽WJMFTCBa KBPIBZNVDIPSVJEPFOFMJOUFSJPS EFMWFI䜷DVMP QPES䜷BTFSEJG䜷DJMP䜷SMB WP[EFTVJOUFSMPDVUPSEVSBOUFVOB MMBNBEB 䳜 /PDPMPRVFFMEJTQPTJUJWPDPO#MVFa UPPUI䛸 DFSDB P EFOUSP EF PCKFUPT NFU䜫MJDPT ZBRVF EFMPDPOUSBSJP MB DPNVOJDBDJ䜽O DPO FM TJTUFNB #MVFUPPUI䛸 P MBT FTUBDJPOFT EF TFSWJDJPEFMN䜽WJMQVFEFOTVGSJSJOa UFSGFSFODJBT 䳜 4J FM TJTUFNB EF BVEJP TF FODVFOa USBFOVOFOUPSOPFMFDUSPNBHO䜳UJa DP FMMPQPES䜷BQSPEVDJSSVJEPEFJOa UFSGFSFODJBT 䳜 MHVOPT EJTQPTJUJWPT #MVFUPPUI䛸 QPES䜷BO DBVTBS SVJEPT EF JOUFSGFa SFODJBPGBMMPTFOFMTJTUFNBEFBVa EJP O FTF DBTP FTUB DPOEJDJ䜽O QPES䜷B TPMWFOUBSTF HVBSEBOEP FM EJTQPTJUJWPFOPUSPMVHBS $POUJO䝄B 4JTUFNBEFBVEJP
- 245. $POUJO䝄B 䳜 $VBOEP VOEJTQPTJUJWP FTU䜫 DPOFDa UBEP B USBW䜳T EF #MVFUPPUI䛸 QPa ES䜷B EFTDBSHBSTF DPO NBZPS SBQJa EF[EFMPIBCJUVBMFODBTPEFSFBMJa [BS PQFSBDJPOFT BEJDJPOBMFT SFMBa DJPOBEBTDPO#MVFUPPUI䛸 䳜 -B DBMJEBE Z FM WPMVNFO EF MB MMBa NBEBDPOFMTJTUFNBNBOPTMJCSFT QPES䜷BEJGFSJSFOGVODJ䜽OEFMEJTQPa TJUJWP#MVFUPPUI䛸 䳜 4J TF BKVTUB MB QSJPSJEBE EF DPOFa YJ䜽OUSBTFMFODFOEJEPEFMWFI䜷DVMP *(/$$ 0/ FM EJTQPTJUJWP DPO #MVFUPPUI䛸 TF DPOFDUBS䜫 BVUPN䜫a UJDBNFOUF*ODMVTPTJTFFODVFOUSB FO FM FYUFSJPS FM EJTQPTJUJWP DPO #MVFUPPUI䛸 TF DPOFDUBS䜫 BVUPN䜫a UJDBNFOUF DVBOEP FTU䜳 DFSDB EFM WFI䜷DVMP4JOPEFTFBDPOFDUBSBVa UPN䜫UJDBNFOUF TV EJTQPTJUJWP #MVFUPPUI䛸 EFTBDUJWF MB GVODJ䜽O #MVFUPPUI䛸 EF TV EJTQPTJUJWP DPO #MVFUPPUI䛸 $POUJO䝄B $POUJO䝄B 䳜 O BMHVOPT EJTQPTJUJWPT DPO #MVFa UPPUI䛸 TJ TF QPOF FO NBSDIB FM FODFOEJEP NJFOUSBT TF FTU䜫 IBa CMBOEPDPOMBGVODJ䜽OEFNBOPTMJa CSFTBUSBW䜳TEFM#MVFUPPUI䛸 MBMMBa NBEB TF EFTDPOFDUBS䜫 QPSRVF MB MMBNBEB TF USBOTGJFSF BM NBOPT MJa CSFTEFMWFI䜷DVMP4JVUJMJ[BVOUFM䜳a GPOP FO FM FYUFSJPS EFM WFI䜷DVMP EFTBDUJWFMBGVODJ䜽O#MVFUPPUI䛸EF TVUFM䜳GPOP $POFYJ䜽O#MVFUPPUI䛸 OUFT EF RVF QVFEB VUJMJ[BS MB GVODJ䜽O #MVFUPPUI䛸 FO QSJNFS MVHBS EFCF FNa QBSFKBSDPOFDUBS FM EJTQPTJUJWP #MVFa UPPUI䛸BTVWFI䜷DVMP NQBSFKBNJFOUPEFVOEJTQPTJUJWPOVFa WP 䳜 1VMTFFMCPU䜽O 1)0/ UFM䜳GPOP FO MB VOJEBE QSJODJQBM P FM CPU䜽O $-- MMBNBS FO FM NBOEP B EJTUBODJB EFM WPMBOUF 䳜 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOF UFM䜳GPOP 4FMFDDJPOFEE OFX EFWJDF B䜻BEJS OVFWP EJTQPTJUJa WP OTVEJTQPTJUJWP#MVFUPPUI䛸 FNQBSFKF TV WFI䜷DVMP EFTQV䜳T EF RVF TV EJTQPTJUJWP #MVFUPPUI䛸 EFa UFDUFFMEJTQPTJUJWP#MVFUPPUI䛸 *OUSPEV[DB MB DMBWF EF BDDFTP P BDFQUF MB WFOUBOB FNFSa HFOUFEFBVUPSJ[BDJ䜽O $POFDUFFM#MVFUPPUI䛸 /05 䳜 4FQVFEFOFNQBSFKBSIBTUBEJTa QPTJUJWPT#MVFUPPUI䛸 䳜 -BDMBWFEFBDDFTPQPSEFGFDUPFT 䳜 %VSBOUFMBDPOFYJ䜽OEFVOEJTQPTJa UJWP #MVFUPPUI䛸 OP TF QVFEF FNa QBSFKBSPUSPEJTQPTJUJWP $POUJO䝄B 4JTUFNBEFBVEJP
- 246. $POUJO䝄B 䳜 MOPNCSFEFMWFI䜷DVMPBOUFSJPSTF QSPQPSDJPOB BNPEP EF FKFNQMP $PNQSVFCFMBJOGPSNBDJ䜽OSFBMEFM QSPEVDUP 䳜 M FNQBSFKBNJFOUP Z MB DPOFYJ䜽O EF VO EJTQPTJUJWP DPO #MVFUPPUI䛸 DPNQBUJCMF DPO MB UFDOPMPH䜷B DPO #MVFUPPUI䛸 TPMP GVODJPOBS䜫O TJ TF IBBDUJWBEPMBPQDJ䜽OEFUFDOPMPH䜷B #MVFUPPUI䛸 FO TV EJTQPTJUJWP DPO #MVFUPPUI䛸 -PTN䜳UPEPTEFBDUJa WBDJ䜽O EF MB GVODJ䜽O DPNQBUJCMF DPO #MVFUPPUI䛸 QPES䜷BO WBSJBS FO GVODJ䜽O EFM EJTQPTJUJWP DPO #MVFa UPPUI䛸 $POUJO䝄B $POUJO䝄B 䳜 6OB WF[ DPNQMFUBEP FM FNQBSFKBa NJFOUP TF FOW䜷B VOB TPMJDJUVE EF EFTDBSHBEFMPTDPOUBDUPTBMEJTQPa TJUJWP #MVFUPPUI䛸 O BMHVOPT EJTa QPTJUJWPT #MVFUPPUI䛸 FT QPTJCMF RVF TF SFRVJFSB VOB DPOGJSNBDJ䜽O USBT SFDJCJS MB TPMJDJUVE EF EFTDBSa HB$FSDJ䜽SFTFEFRVFFMEJTQPTJUJWP #MVFUPPUI䛸 BDFQUB MB DPOFYJ䜽O $POTVMUF FM NBOVBM EF VTVBSJP EFM UFM䜳GPOPQBSBPCUFOFSJOGPSNBDJ䜽O BEJDJPOBM TPCSF FM FNQBSFKBNJFOUP ZMBTDPOFYJPOFTEFMUFM䜳GPOPN䜽a WJM $POFYJ䜽OEFEJTQPTJUJWPT#MVFUPPUI䛸 1VMTFFMCPU䜽O 1)0/ UFM䜳GPOP FOMB VOJEBE QSJODJQBM P FM CPU䜽O $-- MMBa NBS FOFMNBOEPBEJTUBODJBEFMWPMBOa UF 4FMFDDJPOFFMOPNCSFEFMEJTQPTJUJa WP QBSB DPOFDUBS $POFDUF FM #MVFa UPPUI䛸 /05 䳜 4PMPQVFEFDPOFDUBSTFVOEJTQPTJa UJWP#MVFUPPUI䛸BMBWF[ 䳜 -BT GVODJPOFT EF MB UFDOPMPH䜷B #MVFUPPUI䛸RVFBENJUFFMWFI䜷DVMP TPOMBTRVFTFJOEJDBOBDPOUJOVBa DJ䜽OTQPTJCMFRVFOPTFBENJUBO BMHVOBTGVODJPOFTEFQFOEJFOEPEFM EJTQPTJUJWPDPO#MVFUPPUI䛸 3FDFQDJ䜽OSFBMJ[BDJ䜽O EF MMBNBa EBTDPOFMNBOPTMJCSFT 0QFSBDJPOFTEVSBOUFVOBMMBNBa EB DBNCJBS B QSJWBEP DBNCJBS BMMBNBEBFOFTQFSB NJDS䜽GPOP FODFOEJEPBQBHBEP %FTDBSHBEFMIJTUPSJBMEFMMBNBa EBT $POUJO䝄B 4JTUFNBEFBVEJP
- 247. $POUJO䝄B %FTDBSHBEFDPOUBDUPT $POFYJ䜽OBVUPN䜫UJDB EFM EJTQPa TJUJWPDPO#MVFUPPUI䛸 5SBOTGFSFODJB EF BVEJP QPS #MVFUPPUI䛸 5FM䜳GPOP#MVFUPPUI䛸 5FM䜳GPOP#MVFUPPUI䛸 1VMTFFMCPU䜽O .VFTUSBMBQBOUBMMBEFNFO䝄EFMUFM䜳GPa OPMOPNCSFEFMEJTQPTJUJWPDPOFDUBEP TF NVFTUSB FO MB QBSUF TVQFSJPS EF MB QBOUBMMB 䳜 JOEJDBEPS EF MB JOUFOTJEBE EF MB TF䜻BMEFMBMMBNBEB 䳜 OJWFMEFMBCBUFS䜷BEFMPTEJTQPTJUJa WPT#MVFUPPUI䛸DPOFDUBEPT 'BWPVSJUFT GBWPSJUPT 1VMTF FM CPU䜽O 4FMFDDJPOF 'BWPVSJUFT 'BWPSJUFT GBWPSJUPT 4F QSPQPSDJPOB VOB MJTUB EF MPT UFM䜳GPa OPT HVBSEBEPT DPNP GBWPSJUPT 4FMFDa DJPOFEFMBMJTUBQBSBNBSDBSFMO䝄NFSP .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O 䳜 EEOFXGBWPVSJUFT EE/FX'BWPSJa UFT B䜻BEJSOVFWPTGBWPSJUPT B䜻BEF VOO䝄NFSPEFUFM䜳GPOPBGBWPSJUPT 䳜 %FMFUF JUFNT FMJNJOBS FMFNFOUPT FMJNJOB MPT O䝄NFSPT RVF TFMFDDJPOB EFGBWPSJUPT 䳜 %FMFUFBMM FMJNJOBSUPEP FMJNJOBUPa EPTMPTO䝄NFSPTEFGBWPSJUPT /05 䳜 4FQVFEFOHVBSEBSIBTUBGBWPa SJUPTFODBEBEJTQPTJUJWP 䳜 4VEJTQPTJUJWP#MVFUPPUI䛸OPBENJa UFMBEFTDBSHBEFGBWPSJUPT 䳜 -PT EBUPT EFCFO FTUBS EFTDBSHBa EPT QBSB HVBSEBSMPT DPNP GBWPSJa UPT 䳜 -PTDPOUBDUPTHVBSEBEPTFOGBWPa SJUPTQPES䜷BOOPBDUVBMJ[BSTFBVUPa N䜫UJDBNFOUF TJ FM DPOUBDUP TF IB BDUVBMJ[BEP FO FM UFM䜳GPOP 1BSB BDUVBMJ[BS MPT GBWPSJUPT FMJNJOF FM GBWPSJUPZDSFFVOOVFWPGBWPSJUP )JTUPSJBMEFMMBNBEBT 1VMTF FM CPU䜽O 4FMFDDJPOF $BMMIJTUPSZ IJTUPSJBMEFMMBNBEBT .VFTUSB UPEP FM IJTUPSJBM EF MMBNBEBT 4FMFDDJPOFEFMBMJTUBQBSBNBSDBSFMO䝄a NFSP 4JTUFNBEFBVEJP
- 248. .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O 䳜%PXOMPBE EFTDBSHBS EFTDBSHBMBJOa GPSNBDJ䜽OEFMIJTUPSJBMEFMMBNBEBTEF TVEJTQPTJUJWP#MVFUPPUI䛸 䳜 MMDBMMT UPEBTMBTMMBNBEBT QSPQPSa DJPOBVOBMJTUBEFUPEPFMIJTUPSJBMEF MMBNBEBT 䳜 %JBMFE DBMMT MMBNBEBT SFBMJ[BEBT QSPQPSDJPOBVOBMJTUBEFMBTMMBNBEBT SFBMJ[BEBT 䳜 3FDFJWFE DBMMT MMBNBEBT SFDJCJEBT QSPQPSDJPOBVOBMJTUBEFMBTMMBNBEBT SFDJCJEBT 䳜 .JTTFEDBMMT MMBNBEBTQFSEJEBT QSPa QPSDJPOB VOB MJTUB EF MBT MMBNBEBT QFSEJEBT / /05 䳜 M IJTUPSJBM EF MMBNBEBT QPES䜷B OP HVBSEBSTF FO MB MJTUB EFM IJTUPSJBM EF MMBNBEBT EF BMHVOPT EJTQPTJUJa WPT#MVFUPPUI䛸 䳜 -BTMMBNBEBTEFTEF*%SFTUSJOHJEPT OPTFHVBSEBOFOMBMJTUBEFMIJTUPa SJBMEFMMBNBEBT 䳜 4FQVFEFOB䜻BEJSIBTUBMMBNBa EBTFODBEBMJTUBEFMMBNBEBTSFBMJa [BEBTMMBNBEBT SFDJCJEBTMMBNBEBT QFSEJEBT 䳜 -BEVSBDJ䜽OEFDBEBMMBNBEBSFBMJa [BEBSFDJCJEBOPTFNVFTUSBFOMB MJTUB EFM IJTUPSJBM EF MMBNBEBT EFM WFI䜷DVMP 䳜 %VSBOUF MB EFTDBSHB EFM IJTUPSJBM EF MMBNBEBT MB CBSSB EF FTUBEP NVFTUSBVOJDPOP 䳜 4JMBGVODJ䜽OEFEFTDBSHBEFMIJTUPa SJBM EF MMBNBEBT FTU䜫 EFTBDUJWBEB FO FM EJTQPTJUJWP #MVFUPPUI䛸 MB EFTDBSHB EFM IJTUPSJBM EF MMBNBEBT OPTFQPES䜫MMFWBSBDBCP $POUJO䝄B $POUJO䝄B 䳜 MHVOPTEJTQPTJUJWPTSFRVJFSFOVOB BVUFOUJDBDJ䜽O QBSB EFTDBSHBS FM IJTUPSJBMEFMMBNBEBT4JTFQSPEVDF VO FSSPS FO MB EFTDBSHB WFSJGJRVF RVFMPTBKVTUFTEF#MVFUPPUI䛸PFM FTUBEPEFMBQBOUBMMBTFBOOPSNBa MFT $POUBDUT DPOUBDUPT 1VMTF FM CPU䜽O 4FMFDDJPOF $POUBDUT DPOUBDUPT .VFTUSBMBMJTUBEFDPOUBDUPT4FMFDDJPa OFEFMBMJTUBQBSBNBSDBSFMO䝄NFSP .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O 䳜 %PXOMPBE EFTDBSHBS EFTDBSHB MPT DPOUBDUPT EF TV EJTQPTJUJWP #MVFa UPPUI䛸 4JTUFNBEFBVEJP
- 249. 4 4PMJDJUVEEFEFTDBSHB MHVOPT EJTQPTJUJWPT SFRVJFSFOVOB BVa UFOUJDBDJ䜽O QBSB EFTDBSHBS FM IJTUPSJBM EFMMBNBEBTZMPTDPOUBDUPT 4J TF QSPEVDF VO FSSPS FO MB EFTDBSHB WFSJGJRVF MPT BKVTUFT EFM EJTQPTJUJWP #MVFUPPUI䛸PFMFTUBEPEFMBQBOUBMMB /05 䳜 4F QVFEFO EFTDBSHBS IBTUB O䝄NFSPT EF UFM䜳GPOP EF VO 䝄OJDP EJTQPTJUJWP #MVFUPPUI䛸 FNQBSFKBa EP 䳜 /PQVFEFFEJUBSOJFMJNJOBSMPTO䝄a NFSPT EF UFM䜳GPOP EFTDBSHBEPT EFTEFTVWFI䜷DVMP 䳜 -PT DPOUBDUPT TF QVFEFO NPTUSBS TPMP DVBOEP FM EJTQPTJUJWP #MVFa UPPUI䛸FTU䜫DPOFDUBEP $POUJO䝄B $POUJO䝄B 䳜 *ODMVTPTJFMEJTQPTJUJWP#MVFUPPUI䛸 FTU䜫EFTDPOFDUBEP MPTEBUPTEFTa DBSHBEPT TF DPOTFSWBS䜫O 5FOHB FODVFOUBRVFMBFMJNJOBDJ䜽OEFVO EJTQPTJUJWP FNQBSFKBEP UBNCJ䜳O FMJNJOBS䜫UPEPTMPTDPOUBDUPTZMPT EBUPT EFM IJTUPSJBM EF MMBNBEBT EFTDBSHBEPT 䳜 -PT O䝄NFSPT EF UFM䜳GPOP EFTDBSa HBEPT TF QPES䜷BO QFSEFS FO GVOa DJ䜽OEFMFTUBEPEFMBVOJEBEQSJODJa QBM(VBSEFMPTEBUPTJNQPSUBOUFT FOVOMVHBSTFHVSP 䳜 -B CBSSB EF FTUBEP NVFTUSB VO NJFOUSBT TF EFTDBSHBO MPT DPOUBDUPT 䳜 -BEFTDBSHBOPFTUBS䜫EJTQPOJCMFTJ MBGVODJ䜽OEFEFTDBSHBEFMPTDPOa UBDUPTFTU䜫EFTBDUJWBEBFOTVEJTa QPTJUJWP#MVFUPPUI䛸 䳜 (VBSEF MPT OPNCSFT EF DPOUBDUP FOFMUFM䜳GPOPFOJOHM䜳T ZBRVFEF MPDPOUSBSJPQPES䜷BOOPWJTVBMJ[BSTF DPSSFDUBNFOUF $POUJO䝄B $POUJO䝄B 䳜 MUJFNQPEFEFTDBSHBEFMPTDPOa UBDUPT P EFM IJTUPSJBM EF MMBNBEBT QPES䜷BEJGFSJSFOGVODJ䜽OEFMPTEJTa QPTJUJWPT#MVFUPPUI䛸 䳜 MHVOPTEJTQPTJUJWPTSFRVJFSFOVOB BVUFOUJDBDJ䜽O EFM EJTQPTJUJWP QBSB EFTDBSHBSMPTDPOUBDUPT4JGBMMBMB EFTDBSHB DPOTVMUF MB QBOUBMMB EFM UFM䜳GPOPZDPOGJSNFMBEFTDBSHBTJ FTOFDFTBSJP DFQUBSSFDIB[BSVOBMMBNBEB 4JIBZVOBMMBNBEBFOUSBOUF BQBSFDFS䜫 VONFOTBKFFNFSHFOUF 䳜 1BSBDPOUFTUBSMBMMBNBEB TFMFDDJPOF DDFQU BDFQUBS FO MB QBOUBMMB P QVMTF FM CPU䜽O $-- MMBNBS FO FM NBOEPBEJTUBODJBEFMWPMBOUF 4JTUFNBEFBVEJP
- 250. 䳜 1BSB SFDIB[BSMB MMBNBEB TFMFDDJPOF 3FKFDU SFDIB[BS FO MB QBOUBMMB P QVMTFFMCPU䜽O /% GJO FOFMNBOEP BEJTUBODJBEFMWPMBOUF /05 O BMHVOPT EJTQPTJUJWPT #MVFUPPUI䛸 FTQPTJCMFRVFFMO䝄NFSPEFUFM䜳GPOP EFMBQFSTPOBRVFMMBNBOPTFNVFTa USFZRVFOPTFBENJUBMBGVODJ䜽OSFa DIB[BS 6UJMJ[BDJ䜽OEFMNFO䝄EVSBOUFVOBMMBNBa EBUFMFG䜽OJDB M SFBMJ[BS VOB MMBNBEB QVFEF VUJMJ[BS MPTTJHVJFOUFTFMFNFOUPTEFMNFO䝄 1SJWBUF QSJWBEP QBTBVOBMMBNBEB EFWP[EFMNBOPTMJCSFTEFMWFI䜷DVMP BMEJTQPTJUJWP#MVFUPPUI䛸 OE GJO GJOBMJ[BMBMMBNBEB .VFTUSBMBWFOUBOBFNFSHFOUFEFNFa O䝄 BMQVMTBSFMCPU䜽O 䳜 .JDSPQIPOF 7PMVNF 0VUHPJOH 7PMVa NF WPMVNFOEFMNJDS䜽GPOPWPMVNFO EF TBMJEB NVFTUSB MPT BKVTUFT EFM WPMVNFOEFMNJDS䜽GPOP1VFEFBKVTUBS FM WPMVNFO EF MB MMBNBEB FOUSBOUF RVFFMJOUFSMPDVUPSPZF OJWFM /05 䳜 4F QVFEFO EFTDBSHBS IBTUB O䝄NFSPT EF UFM䜳GPOP EF VO 䝄OJDP EJTQPTJUJWP #MVFUPPUI䛸 FNQBSFKBa EP 䳜 4JFMO䝄NFSPEFMRVFSFBMJ[BMBMMBa NBEB BQBSFDF FO MB MJTUB EF $POa UBDUPT TF NPTUSBS䜫 FM OPNCSF EF MBQFSTPOBRVFMMBNB%FMPDPOUSBa SJP TPMPTFNPTUSBS䜫FMO䝄NFSPO BMHVOPT EJTQPTJUJWPT #MVFUPPUI䛸 FT QPTJCMF RVF OP TF NVFTUSF FM O䝄NFSPEFUFM䜳GPOP 䳜 O BMHVOPT EJTQPTJUJWPT #MVFa UPPUI䛸 FTQPTJCMFRVFOPTFBENJa UB MB GVODJ䜽O 6TF 1SJWBUF VUJMJ[BS QSJWBEP $POUJO䝄B $POUJO䝄B 䳜 O BMHVOPT EJTQPTJUJWPT #MVFa UPPUI䛸 FT QPTJCMF RVF MB GVODJ䜽O 4XJUDI DBNCJBS OP FTU䜳 EJTQPOJa CMF 䳜 O BMHVOPT EJTQPTJUJWPT #MVFa UPPUI䛸 FT QPTJCMF RVF FM O䝄NFSP EFUFM䜳GPOPOPTFNVFTUSFDPSSFDa UBNFOUF 䳜 %VSBOUF VOB MMBNBEB EF UFM䜳GPOP FOVONBOPTMJCSFTDPO#MVFUPPUI䛸 OP QVFEF BDDFEFS B PUSPT NPEPT DPNPFMEF3BEJPZ$POGJHVSBDJ䜽O 䳜 O GVODJ䜽O EFM UJQP EF EJTQPTJUJWP FM WPMVNFO EF MB MMBNBEB SFDJCJEB RVFFMPUSPJOUFSMPDVUPSPZFQPES䜷B EJGFSJS4JFMJOUFSMPDVUPSPZFTVWP[ EFNBTJBEP BMUB P CBKB BKVTUF FM WPMVNFOEFMNJDS䜽GPOP KVTUFTEFMUFM䜳GPOP 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOFTFUUJOHT BKVTUFTEFUFM䜳GPOP 1BTBBMBQBOUBMMBEFBKVTUFTEFMUFM䜳GPa OP1BSBPCUFOFSN䜫TJOGPSNBDJ䜽O DPOa TVMUF 4FUVQ DPOGJHVSBDJ䜽O 1IPOF TFUUJOHT BKVTUFT EFM UFM䜳GPOP FO FM NBOVBM 4JTUFNBEFBVEJP
- 251. $ $POGJHVSBDJ䜽O 1BOUBMMB 1VMTF FM CPU䜽O 4FMFDDJPOF %JTQMBZ QBOUBMMB 䳜 *OGPSNBDJ䜽O EF MB DBODJ䜽O QBOUBMMB .FEJB BMSFQSPEVDJSVOBSDIJWP.1 TFMFDDJPOFMBJOGPSNBDJ䜽OEFWJTVBMJ[Ba DJ䜽O RVF EFTFB FO 'PMEFS'JMF DBSa QFUBBSDIJWP P SUJTU5JUMFMCVN BSUJTUBU䜷UVMP䜫MCVN 䳜 7FOUBOBFNFSHFOUFEFNPEPEVSBOa UF FM FTUBEP 0O BDUJWBEP QVMTF FM CPU䜽O P QBSB NPTa USBSMBWFOUBOBFNFSHFOUFEFDBNCJP EFNPEP 䳜 4DSPMM UFYU 5FYU 4DSPMM EFTQMB[BS UFYUP TJ FM OPNCSF EFM BSDIJWP .1 FT EFNBTJBEP MBSHP QBSB NPTUSBSTF FM OPNCSF EFM BSDIJWP TF EFTQMB[B EFTEFMBEFSFDIBBMBJ[RVJFSEB /PNCSFEFMU䜷UVMPFOMBQBOUBMMBEF BVEJP64#J1PE䛸#5 /PNCSFEFMBDBSQFUBBSDIJWPEFTa UBDBEPFOMBMJTUBEFSFQSPEVDDJ䜽O /PNCSFEFMPTDPOUBDUPTEFTUBDBa EPFOMBMJTUBEFMIJTUPSJBMEFMMBNBa EBTDPOUBDUPTGBWPSJUPT /PNCSFEFMWFI䜷DVMPEFTUBDBEPFO MB MJTUB EF BKVTUFT EF EJTQPTJUJWPT FNQBSFKBEPT EJTQPTJUJWPT FMJNJOBa EPTZQSJPSJEBEEFMBDPOFYJ䜽O 4POJEP 1VMTF FM CPU䜽O 4FMFDDJPOF 4PVOE TPOJEP 䳜 1PTJUJPO QPTJDJ䜽O TFMFDDJPOFMBQPTJa DJ䜽OEFMTPOJEP 䳜 RVBMJTFS 5POF FDVBMJ[BEPS UPOP TFMFDDJPOBFMUPOPEFMTPOJEP 䳜 4QFFEEFQFOEFOUWPM WPMTFH䝄OWFa MPDJEBE DPOUSPMBFMOJWFMEFWPMVNFO BVUPN䜫UJDBNFOUF TFH䝄O MB WFMPDJEBE EFMWFI䜷DVMP 3FMPK 1VMTF FM CPU䜽O 4FMFDDJPOF $MPDL SFMPK 䳜 $MPDL SFMPK BKVTUFFMO䝄NFSPNBSDBa EPQBSBGJKBSMBIPSBZQVMTFFMNBOa EP 5 56/ BKVTUBS QBSB GJKBS MPT NJa OVUPTZ.1. 䳜 %BUF GFDIB BKVTUF FM O䝄NFSP NBSa DBEP QBSB GJKBS MPT BKVTUFT Z QVMTF FM NBOEP 5 56/ BKVTUBS QBSB QBTBS BM BKVTUFTJHVJFOUF 䳜 5JNFGPSNBU GPSNBUPEFIPSB BKVTa UBFMGPSNBUPEFMBIPSBEFMTJTUFNB EFBVEJPFOIPSBT 䳜 %JTQMBZ 1PXFS0'' QBOUBMMB BQBHBa EP NVFTUSB MB IPSBGFDIB FO MB QBOUBMMB DVBOEP FM TJTUFNB EF BVEJP FTU䜫BQBHBEP 1IPOF UFM䜳GPOP TJFTU䜫FRVJQBEP 䜻BEJSVOOVFWPEJTQPTJUJWP 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOF UFM䜳GPOP 4FMFDDJPOF EE OFXEFWJDF B䜻BEJSOVFWPEJTQPTJUJWP -PT QBTPT TJHVJFOUFT TPO MPT NJTNPT RVF MPT EFTDSJUPT FO MB TFDDJ䜽O NQBa SFKBNJFOUPEFVOOVFWPEJTQPTJUJWPFO MBQ䜫HJOBBOUFSJPS $POFDUBSEFTDPOFDUBSEJTQPTJUJWP 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOF UFM䜳GPOP 4FMFDDJPOF1BJSFE EFWJDFT EJTQPTJUJWPTFNQBSFKBEPT .VFTUSB MB MJTUB EF EJTQPTJUJWPT #MVFa UPPUI䛸FNQBSFKBEPTOMBMJTUBEFEJTa QPTJUJWPT FNQBSFKBEPT TFMFDDJPOF FM EJTQPTJUJWPRVFEFTFBDPOFDUBSPEFTDPa OFDUBS 4JTUFNBEFBVEJP
- 252. / /05 䳜 .VFTUSBMPTJDPOPTDVBOEPVOEJTa QPTJUJWP #MVFUPPUI䛸FTU䜫 DPOFDUBa EP BQBSFDFVOJDPOPDVBOEPSFBMJa [B VOB DPOFYJ䜽O EF BVEJP #MVFa UPPUI䛸 BQBSFDFVOJDPOPDVBOEPSFBMJa [B VOB DPOFYJ䜽O DPO NBOPT MJCSFT #MVFUPPUI䛸 䳜 4PMPQVFEFDPOFDUBSTFVOEJTQPTJa UJWP#MVFUPPUI䛸BMBWF[ 䳜 4F BENJUFO MBT GVODJPOFT EF NBa OPT MJCSFT DPO #MVFUPPUI䛸 Z BVEJP #MVFUPPUI䛸 -PT EJTQPTJUJWPT RVF BENJUFOMBGVODJ䜽OEFNBOPTMJCSFT ZEFBVEJP DPNPVOUFM䜳GPOPJOUFa MJHFOUFPBVEJP#MVFUPPUI䛸 GVODJPa OBS䜫ODPOOPSNBMJEBE 䳜 4JFMTJTUFNBOPFTFTUBCMFEFCJEP B VO FSSPS EF DPNVOJDBDJ䜽O FOUSF FMWFI䜷DVMPZ#MVFUPPUI䛸 FMJNJOFFM EJTQPTJUJWP FNQBSFKBEP FO DBEB EJTQPTJUJWP Z WVFMWB B FNQBSFKBS DPOFDUBSFMEJTQPTJUJWP#MVFUPPUI䛸 MJNJOBSEJTQPTJUJWPT 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOF UFM䜳GPOP 4FMFDDJPOF%FMFUF EFWJDF FMJNJOBSEJTQPTJUJWPT .VFTUSB MB MJTUB EF EJTQPTJUJWPT #MVFa UPPUI䛸 FNQBSFKBEPT $VBOEP TF TFMFDa DJPOBEFMBMJTUB FMEJTQPTJUJWPTFFMJNJa OB /05 䳜 $VBOEPFMJNJOBVOEJTQPTJUJWPFNa QBSFKBEP FMIJTUPSJBMEFMMBNBEBTZ MPT DPOUBDUPT BMNBDFOBEPT FO MB VOJEBE QSJODJQBM UBNCJ䜳O TF FMJNJa OBO 䳜 1BSBVUJMJ[BSEFOVFWPVOEJTQPTJUJa WP CPSSBEP EFCFS䜫 DPOGJHVSBSTF EFOVFWP 1SJPSJEBEEFDPOFYJ䜽O 1VMTF FM CPU䜽O 4FMFDDJPOF 1IPOF UFM䜳GPOP 4FMFDDJPOF $POa OFDUJPO QSJPSJUZ QSJPSJEBE EF DPOFa YJ䜽O 䳜 4FMFDDJPOFFMEJTQPTJUJWPFOFMRVFEFa TFB DPOGJHVSBS MB QSJPSJEBE EF DPOFa YJ䜽OEFMPTEJTQPTJUJWPTFNQBSFKBEPT 䳜 4J TF FMJHF /PU TFMFDUFE /POF OP TFMFDDJPOBEP OJOHVOP FM TJTUFNB #MVFUPPUI䛸JOUFOUBS䜫DPOFDUBSDPOFM 䝄MUJNPEJTQPTJUJWPDPOFDUBEPZ BDPOa UJOVBDJ䜽O DPO UPEPT MPT EJTQPTJUJWPT FNQBSFKBEPT /05 䳜 $VBOEP FM NPUPS FTU䜫 FO NBSDIB FM EJTQPTJUJWP #MVFUPPUI䛸 TFMFDDJPa OBEP TF DPOFDUB BVUPN䜫UJDBNFOa UF4JTFQSPEVDFVOFSSPSBMDPOFDa UBS FM EJTQPTJUJWP TFMFDDJPOBEP FM EJTQPTJUJWPDPOFDUBEPQSFWJBNFOUF TFDPOFDUBEFGPSNBBVUPN䜫UJDB Z TJ UBNCJ䜳O TF QSPEVDF VO FSSPS FOUPODFT JOUFOUB DPOFDUBS UPEPT MPT EJTQPTJUJWPT FNQBSFKBEPT EF GPSNBTFDVFODJBM 䳜 OGVODJ䜽OEFMBQSJPSJEBEEFDPOFa YJ䜽O BVUPN䜫UJDB MB DPOFYJ䜽O B VO EJTQPTJUJWPQPES䜷BUBSEBS $POUJO䝄B 4JTUFNBEFBVEJP
- 253. $POUJO䝄B 䳜 4JVOEJTQPTJUJWPDPO#MVFUPPUI䛸TF EFTDPOFDUB QPSRVF TF FODVFOUSB GVFSBEFMBMDBODFEFDPNVOJDBDJ䜽O TF IB BQBHBEP P QPS VO FSSPS EF DPNVOJDBDJ䜽O #MVFUPPUI䛸 TF QSPa DFEFS䜫BVUPN䜫UJDBNFOUFBMBC䝄Ta RVFEBZSFDPOFYJ䜽OEFMPTEJTQPTJa UJWPT DPSSFTQPOEJFOUFT DPO #MVFa UPPUI䛸 䳜 *ODMVTPTJTFFODVFOUSBFOFMFYUFa SJPS FM EJTQPTJUJWP DPO #MVFUPPUI䛸 TF DPOFDUBS䜫 BVUPN䜫UJDBNFOUF DVBOEP FTU䜳 DFSDB EFM WFI䜷DVMP 4J OP EFTFB DPOFDUBS BVUPN䜫UJDBa NFOUF TV EJTQPTJUJWP #MVFUPPUI䛸 EFTBDUJWFMBGVODJ䜽O#MVFUPPUI䛸EF TVEJTQPTJUJWPDPO#MVFUPPUI䛸 $POUJO䝄B $POUJO䝄B 䳜 O BMHVOPT EJTQPTJUJWPT DPO #MVFa UPPUI䛸 TJ TF QPOF FO NBSDIB FM FODFOEJEP NJFOUSBT TF FTU䜫 IBa CMBOEPDPOMBGVODJ䜽OEFNBOPTMJa CSFTBUSBW䜳TEFM#MVFUPPUI䛸 MBMMBa NBEB TF EFTDPOFDUBS䜫 QPSRVF MB MMBNBEB TF USBOTGJFSF BM NBOPT MJa CSFTEFMWFI䜷DVMP4JVUJMJ[BVOUFM䜳a GPOP FO FM FYUFSJPS EFM WFI䜷DVMP EFTBDUJWFMBGVODJ䜽O#MVFUPPUI䛸EF TVUFM䜳GPOP *EJPNB 1VMTF FM CPU䜽O 4FMFDDJPOF -BOHVBHF JEJPNB $BNCJBFMJEJPNBEFMBQBOUBMMB %JTQMBZ0GG BQBHBEPEFQBOUBMMB 1VMTF FM CPU䜽O 4FMFDDJPOF %JTQMBZPGG BQBHBEPEFMBQBOUBMMB MTJTUFNBEFBVEJPTJHVFGVODJPOBOEPZ TPMPTFBQBHBMBQBOUBMMB$POMBQBOUBa MMBBQBHBEB QVMTFDVBMRVJFSCPU䜽OQBSB FODFOEFSMBEFOVFWP 4JTUFNBEFBVEJP
- 254.
- 255.
- 256. /5-QBSB#SBTJM TUFQSPEVUPFTU䜫IPNPMPHBEPQFMB/5- EFBDPSEPDPN PT QSPDFEJNFOUPTSFHVMBNFOUBEPT QFMB SFTPMV䜱䜭P O䜄 FBUFOEFBPTSFRVJTJUPTU䜳DOJDPTFBQMJDBEPT 1BSB NBJPSFT JOGPSNB䜱䜿FT DPOTVMUF P TJUF EB /5- XXXBOBUFMHPWCS *'5- 䳖-BPQFSBDJ䜽OEFFTUFFRVJQPFTU䜫TVa KFUBBMBTTJHVJFOUFTEPTDPOEJDJPOFT FTQPTJCMFRVFFTUFFRVJQPPEJTQPa TJUJWPOPDBVTFJOUFSGFSFODJBQFSKVa EJDJBMZ FTUF FRVJQP P EJTQPTJUJWP EFCF BDFQUBSDVBMRVJFSJOUFSGFSFODJB JOa DMVZFOEP MB RVF QVFEB DBVTBS TV PQFSBDJ䜽OOPEFTFBEB䳗 4JTUFNBEFBVEJP
- 257. 䛫-4$1%-.050316%431-*(3040 OUFTEFMBDPOEVDDJ䜽O OUFTEFFOUSBSFOFMWFI䜷DVMP $PNQSPCBDJPOFTOFDFTBSJBT OUFTEFBSSBODBS 1PTJDJPOFTEFMMBWF 1PTJDJ䜽OEFMJOUFSSVQUPSEFFODFOEJEP SSBORVFEFMNPUPS 1BSBEBEFMNPUPS 4JTUFNBBVYJMJBSQBSBFMBSSBORVFFOGS䜷P WFI䜷a DVMPEFDPNCVTUJCMF'MFY QBSB#SBTJMZ1BSBHVBZ #PU䜽O/(*/45354501 JOJDJPQBSBEBEFMNPUPS #PU䜽O/(*/45354501 JOJDJPQBSBEBEFM NPUPS JMVNJOBEP 1PTJDJ䜽OEFMCPU䜽O/(*/45354501 JOJDJP QBSBEBEFMNPUPS SSBORVFEFMNPUPS 1BSBEBEFMNPUPS 4JTUFNB*4( *EMF4UPQBOE(P 1BSBEBBVUPN䜫UJDB SSBORVFBVUPN䜫UJDP $POEJDJ䜽OEFMGVODJPOBNJFOUPEFMTJTUFNB*4( %FTBDUJWBDJ䜽OEFMTJTUFNB*4( WFS䜷BEFMTJTUFNB*4( 5SBOTNJTJ䜽ONBOVBM 0QFSBDJ䜽OEFMBUSBOTNJTJ䜽ONBOVBM #VFOBTQS䜫DUJDBTEFDPOEVDDJ䜽O 5SBOTNJTJ䜽OBVUPN䜫UJDB 'VODJPOBNJFOUPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB #VFOBTQS䜫DUJDBTEFDPOEVDDJ䜽O 4JTUFNBEFGSFOPT 'SFOPTBTJTUJEPT 'SFOPEFFTUBDJPOBNJFOUP 4JTUFNBEFGSFOPTBOUJCMPRVFP #4 $POUSPMFMFDUS䜽OJDPEFFTUBCJMJEBE 4$ 4JTUFNBEFBSSBORVFBTJTUJEPFOQFOEJFOUFT )$ (FTUJ䜽OEFFTUBCJMJEBEEFMWFI䜷DVMP 74. 44TF䜻BMEFQBSBEBEFFNFSHFODJB #VFOBTQS䜫DUJDBTEFGSFOBEP 4JTUFNBEFDPOUSPMEFDSVDFSP *OUFSSVQUPSEFDPOUSPMEFDSVDFSP 1BSBBKVTUBSMBWFMPDJEBEEFDPOUSPMEFDSVDFSP 1BSBBVNFOUBSMBWFMPDJEBEEFDPOUSPMEFDSVDFa SPTFMFDDJPOBEB 1BSBEJTNJOVJSMBWFMPDJEBEEFDSVDFSP 1BSBBDFMFSBSUFNQPSBMNFOUFDPOFMDPOUSPMEF DSVDFSPFODFOEJEP 1BSBDBODFMBSFMDPOUSPMEFDSVDFSP SFBMJDFVOB EFMBTBDDJPOFTTJHVJFOUFT 1BSBSFBOVEBSMBWFMPDJEBEEFDSVDFSPBN䜫TEF LNIBQSPYJNBEBNFOUF 1BSBEFTBDUJWBSFMDPOUSPMEFDSVDFSP 4JTUFNBEFDPOUSPMEFMM䜷NJUFEFWFMPDJEBE *OUFSSVQUPSEFDPOUSPMEFMM䜷NJUFEFWFMPDJEBE 1BSBBKVTUBSFMM䜷NJUFEFWFMPDJEBE 1BSBEFTBDUJWBSFMDPOUSPMEFM䜷NJUFEFWFMPDJEBE SFBMJDFVOBEFMBTBDDJPOFTTJHVJFOUFT 'SFOBEBEFFNFSHFODJBBVU䜽OPNBEFUJQPSBEBS $POGJHVSBDJ䜽OZBDUJWBDJ䜽OEFMTJTUFNB $ $POEVDJSTVWFI䜷DVMP
- 258. $POUSPMEFMTJTUFNBZNFOTBKFEFBEWFSUFODJB EF# 'VODJPOBNJFOUPEFMPTGSFOPT 4FOTPSQBSBEFUFDUBSMBEJTUBODJBEFMWFI䜷DVMP RVFMPQSFDFEF SBEBSEFMBOUFSP 'BMMPEFMTJTUFNB -JNJUBDJ䜽OEFMTJTUFNB 'VODJPOBNJFOUPFDPO䜽NJDP $POEJDJPOFTFTQFDJBMFTEFDPOEVDDJ䜽O $POEJDJPOFTEFDPOEVDDJ䜽OQFMJHSPTBT #BMBODFBSFMWFI䜷DVMP 5PNBSDVSWBTEFNBOFSBTVBWF $POEVDDJ䜽OQPSMBOPDIF $POEVDDJ䜽ODPOMMVWJB $POEVDDJ䜽OFO[POBTJOVOEBEBT $POEVDDJ䜽OGVFSBEFW䜷B $POEVDDJ䜽OQPSW䜷BTQ䝄CMJDBT $POEVDDJ䜽OFOJOWJFSOP $POOJFWFPIJFMP 6UJMJDFVOSFGSJHFSBOUFBCBTFEFFUJMFOHMJDPMEF BMUBDBMJEBE $PNQSVFCFMBCBUFS䜷BZMPTDBCMFT $BNCJFMBWJTDPTJEBEJOWFSOBMEFMBDFJUFTJFT OFDFTBSJP $PNQSVFCFMBTCVK䜷BTZFMTJTUFNBEFFODFOEJEP 1BSBNBOUFOFSMBTDFSSBEVSBTMJNQJBTEFIJFMP 6UJMJDFVOBOUJDPOHFMBOUFSFDPNFOEBEPQBSBFM TJTUFNBEFMMJNQJBQBSBCSJTBT /PQFSNJUBRVFFMGSFOPEFFTUBDJPOBNJFOUPTF DPOHFMF /PEFKFRVFOJFWFPIJFMPTFBDVNVMFOFOMPTCBa KPTEFMWFI䜷DVMP RVJQPEFBSSBTUSFEFFNFSHFODJB 1FTPEFMWFI䜷DVMP 1FTPCSVUPCBTF 1FTPCSVUPEFMWFI䜷DVMP 1FTPEFDBSHB (8 QFTPCSVUPEFMFKF (83 QFTPN䜫YJNPCSVUPEFMFKF (78 QFTPCSVUPEFMWFI䜷DVMP (783 QFTPN䜫YJNPCSVUPEFMWFI䜷DVMP 4PCSFDBSHB
- 259. 䛫 䛫-4$1%-.050316%431-*(3040 %735/$* 䛫- 4$1%- .0503 16a %431-*(3040 -PTHBTFTEFFTDBQFEFMNPUPSQVFa EFOTFSFYUSFNBEBNFOUFQFMJHSPTPT 4J FO DVBMRVJFS NPNFOUP PMJFTF HBa TFTEFOUSPEFMWFI䜷DVMP BCSBMBTWFOa UBOJMMBTJONFEJBUBNFOUF 䳜 /PJOIBMFMPTHBTFT -PT HBTFT EF FTDBQF DPOUJFOFO NPO䜽YJEPEFDBSCPOP VOHBTJODPa MPSPFJOPEPSPRVFQVFEFQSPWPDBS MBJODPOTDJFODJBZNVFSUFQPSBTGJa YJB $POUJO䝄B $POUJO䝄B 䳜 TFH䝄SFTF EF RVF FM TJTUFNB EF FTDBQFOPUJFOFGVHBT M TJTUFNB EF FTDBQF EFCF DPNa QSPCBSTF TJFNQSF RVF FM WFI䜷DVMP TF FMFWF QBSB DBNCJBS FM BDFJUF V PUSBT BDDJPOFT EF NBOUFOJNJFOUP 4JFTDVDIBVODBNCJPFOFMTPOJEP EFMFTDBQFPTJQBTBQPSFODJNBEF BMHPRVFHPMQFBMPTCBKPTEFMWFI䜷a DVMP TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 䳜 /PIBHBGVODJPOBSFMNPUPSFOVOB [POBDFSSBEB %FKBSFMNPUPSBSBMFOU䜷FOFMHBSBa KF JODMVTPDPOMBQVFSUBEFMHBSBKF BCJFSUB FT QFMJHSPTP /VODB EFKF GVODJPOBOEPFMNPUPSFOTVHBSBKF N䜫TUJFNQPEFMRVFMFMMFWFBMNPa UPS BSSBODBS Z B DPOEVDJSMP GVFSB EFMHBSBKF $POUJO䝄B $POUJO䝄B 䳜 WJUF NBOUFOFS FM WFI䜷DVMP BM SBa MFOU䜷 QPS EVSBOUF MBSHPT QFS䜷PEPT DPOHFOUFFOFMJOUFSJPSEFMWFI䜷DVa MP 4J FT OFDFTBSJP UFOFS B SBMFOU䜷 FM NPUPS EVSBOUF MBSHP UJFNQP DPO HFOUF EFOUSP EFM WFI䜷DVMP BTFH䝄a SFTFEFIBDFSMPFOFTQBDJPTBCJFSa UPTZTFMFDDJPOFMBQPTJDJ䜽OEFFOa USBEBEFBJSFGSFTDPZFMWFOUJMBa EPS B N䜫YJNB WFMPDJEBE QBSB QFSa NJUJSRVFFMBJSFGSFTDPEFMFYUFSJPS FOUSFFOFMDPDIF 4J UJFOF RVF DPOEVDJS DPO MB QVFSUB EFM NBMFUFSP BCJFSUB QPSRVF USBOTa QPSUBPCKFUPT IBHBMPTJHVJFOUF $JFSSFUPEBTMBTWFOUBOJMMBT CSBMPTEJGVTPSFTEFWFOUJMBDJ䜽O MBUFSBMFT KVTUFFMDPOUSPMEFBENJTJ䜽OEF BJSFBGSFTDP FMDPOUSPMEFGMVKP EF BJSF FO TVFMP P DBSB Z FM WFOUJMBEPSBMBN䜫YJNBWFMPDJEBE 1BSB HBSBOUJ[BS VO GVODJPOBNJFOUP DPSSFDUP EFM TJTUFNB EF WFOUJMBDJ䜽O BTFH䝄SFTF RVF MBT FOUSBEBT EFM BJSF $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 260. $POUJO䝄B EF WFOUJMBDJ䜽O TJUVBEBTFOGSFOUF BM QBSBCSJTBTFTU䜫OMJCSFTEFOJFWF IJFa MP IPKBTVPUSBTPCTUSVDDJPOFT $POEVDJSTVWFI䜷DVMP
- 261. /54%-$0/%6$$*䜝/ OUFTEFFOUSBSFOFMWFI䜷DVMP 䳜 TFH䝄SFTF EFRVF UPEBT MBT WFOUBOJa MMBT MPTSFUSPWJTPSFTZMBTMVDFTFYUFa SJPSFTFTU䜳OMJNQJPT 䳜 $PNQSVFCFFMFTUBEPEFMPTOFVN䜫UJa DPT 䳜 $PNQSVFCF MPT CBKPT EFM WFI䜷DVMP FO CVTDBEFGVHBT 䳜 TFH䝄SFTF EF RVF OP FYJTUF OJOH䝄O PCTU䜫DVMP EFUS䜫T TVZP TJ RVJFSF EBS NBSDIBBUS䜫T $PNQSPCBDJPOFTOFDFTBSJBT -PTOJWFMFTEFMPTM䜷RVJEPT DPNPEFMM䜷a RVJEPEFMBDFJUFEFMNPUPS EFMSFGSJHFa SBOUF EFMM䜷RVJEPEFGSFOPTZEFMM䜷RVJEP EFMMJNQJBQBSBCSJTBT EFCFODPNQSPCBSa TF DPO SFHVMBSJEBE DPNQBS䜫OEPMPT DPO FMJOUFSWBMPFYBDUPEFQFOEJFOEPEFDBEB M䜷RVJEPO䳖.BOUFOJNJFOUP䳗FOMBQ䜫HJa OB TF QSPQPSDJPOB N䜫T JOGPSNBa DJ䜽O %735/$* 4J TF EJTUSBF BM DPOEVDJS QPES䜷B QFSa EFSFMDPOUSPMEFMWFI䜷DVMPZQSPWPDBS VOBDDJEFOUF TVGSJFOEPMFTJPOFTHSBa WFT P MB NVFSUF -B SFTQPOTBCJMJEBE QSJODJQBM EFM DPOEVDUPS FT MB PQFSBa DJ䜽O TFHVSB EFM WFI䜷DVMP FO DVNQMJa NJFOUPEFMBOPSNBUJWBWJHFOUF QPS MP RVF MPT EJTQPTJUJWPT EF NBOP PUSPTFRVJQPTPTJTUFNBTEFMWFI䜷DVMP RVF SFRVJFSFO MB BUFODJ䜽O WJTVBM EFM DPOEVDUPSZMPEJTUSBFOEFMBPQFSBa DJ䜽OTFHVSBEFMWFI䜷DVMPPRVFOPFTa U䜫OQFSNJUJEPTMFHBMNFOUFOPEFCFa S䜫O VUJMJ[BSTF OVODB EVSBOUF MB DPOa EVDDJ䜽O OUFTEFBSSBODBS 䳜 $JFSSFZCMPRVFFUPEBTMBTQVFSUBT 䳜 3FHVMF FM BTJFOUP EF NBOFSB RVF BMa DBODF UPEPT MPT DPOUSPMFT DPO GBDJMJa EBE 䳜 KVTUF MPT SFUSPWJTPSFT JOUFSJPSFT Z FYUFSJPSFT 䳜 TFH䝄SFTFEFRVFUPEBTMBTMVDFTGVOa DJPOBO 䳜 $PNQSVFCFUPEPTMPTJOEJDBEPSFT 䳜 $PNQSVFCF MBT MVDFT EF BEWFSUFODJB DVBOEP FM JOUFSSVQUPS EF FODFOEJEP FTU䜳FOMBQPTJDJ䜽O0/ 䳜 4VFMUFFMGSFOPEFFTUBDJPOBNJFOUPZ BTFH䝄SFTFEFRVFFMUFTUJHPEFBEWFSa UFODJBEFMGSFOPTFBQBHB 1BSBFMGVODJPOBNJFOUPTFHVSP GBNJMJBa S䜷DFTFDPOFMWFI䜷DVMPZTVTFRVJQPT %735/$* 5PEPT MPT QBTBKFSPT EFCFO MMFWBS BCSPDIBEP BEFDVBEBNFOUF FM DJOUVa S䜽OEFTFHVSJEBENJFOUSBTFMWFI䜷DVa MP TF NVFWB 1BSB PCUFOFS N䜫T JOa GPSNBDJ䜽OTPCSFFMVTPBEFDVBEPEF MPT DJOUVSPOFT DPOTVMUF 䳖$JOUVSPOFT EFTFHVSJEBE䳗FOMBQ䜫HJOB %735/$* $PNQSVFCFTJFNQSFTJDFSDBEFMWFI䜷a DVMPIBZHFOUF TPCSFUPEPOJ䜻PT BOa UFTEFQPOFSFMDPDIFFO% DPOEVDa DJ䜽O P3 NBSDIBBUS䜫T $POEVDJSTVWFI䜷DVMP
- 262. %735/$* $POEVDJSCBKPMPTFGFDUPTEFMBMDPIPM PMBTESPHBT #FCFS Z DPOEVDJSFT QFMJHSPTP $POa EVDJS FO FTUBEP FCSJP FT MB DBVTB N䜫T GSFDVFOUF EF NVFSUF FO DBSSFa UFSB DBEB B䜻P *ODMVTP VOB DBOUJEBE QFRVF䜻BEFBMDPIPMQVFEFBGFDUBSMPT SFGMFKPT MBT QFSDFQDJPOFT Z FM KVJDJP $POEVDJSCBKPMBJOGMVFODJBEFESPHBT FT UBO QFMJHSPTP P N䜫T RVF IBDFSMP CBKPMBJOGMVFODJBEFMBMDPIPM 5FOES䜫 N䜫T QPTJCJMJEBEFT EF TVGSJS VO BDDJEFOUF HSBWF TJ CFCF P UPNB ESPHBTZDPOEVDF 4J WB B CFCFS P UPNBS ESPHBT OP DPOEV[DB/PWBZBFOFMWFI䜷DVMPDPO VODPOEVDUPSCFCJEPPESPHBEPMJKB PUSPDPOEVDUPSN䜫TDBQBDJUBEPPMMBa NFVOUBYJ %735/$* 䳜 $VBOEPJOUFOUFBQBSDBSPQBSBSWFa I䜷DVMPDPOFMNPUPSFODFOEJEP UFOa HBDVJEBEPEFOPQJTBSFMQFEBMEFM BDFMFSBEPSEVSBOUFVOMBSHPQFSJPa EP EF UJFNQP 4F QVFEF TPCSFDBa MFOUBSFMNPUPSPFMTJTUFNBEFFTa DBQFZQSPWPDBSVOJODFOEJP 䳜 MSFBMJ[BSVOBGSFOBEBCSVTDBPHJa SBSFMWPMBOUFS䜫QJEBNFOUF MPTPCa KFUPTTVFMUPTQPES䜷BODBFSBMTVFMP FJOUFSGFSJSMBPQFSBDJ䜽OEFMPTQFa EBMFT QVEJFOEPDBVTBSVOBDDJEFOa UF(VBSEFUPEPTMPTPCKFUPTFOFM WFI䜷DVMPDPOTFHVSJEBE 䳜 4J OP TF DFOUSB FO MB DPOEVDDJ䜽O QPES䜷B DBVTBSVOBDDJEFOUF5FOHB DVJEBEP BM BDDJPOBS NBOEPT RVF QPES䜷BOEJTUSBFSMBDPOEVDDJ䜽O DPa NPFMFRVJQPEFBVEJPPMBDBMFGBDa DJ䜽O M DPOEVDUPS FT SFTQPOTBCMF EFDPOEVDJSDPOTFHVSJEBEFOUPEP NPNFOUP $POEVDJSTVWFI䜷DVMP
- 263. 1 104*$*0/4%--7 1PTJDJ䜽OEFMJOUFSSVQUPSEF FODFOEJEP -0$, CMPRVFP MWPMBOUFFTU䜫CMPRVFBEPDPNPQSPUFDa DJ䜽O BOUJSSPCPT-B MMBWF EF FODFOEJEP TPMP TF QVFEF FYUSBFS FO MB QPTJDJ䜽O -0$, CMPRVFP %FTQV䜳TEFFTUBDJPOBS FMWFI䜷DVMP TJTFBCSFMBQVFSUBEFMDPOa EVDUPSTJOFYUSBFSMBMMBWFEFFODFOEJEP FO MB QPTJDJ䜽O EF CMPRVFP P $$ VOB BMBSNB EF BEWFSUFODJB MF BEWFSUJS䜫 EF RVF EFCF FYUSBFS MB MMBWF 6OB WF[ FYa USB䜷EBMBMMBWF MBBMBSNBTFEFUFOES䜫 $$ BDDFTPSJPT MWPMBOUFTFEFTCMPRVFBZMPTBDDFTPa SJPTFM䜳DUSJDPTFTU䜫OPQFSBUJWPT /05 4JMFSFTVMUBEJG䜷DJMHJSBSFMJOUFSSVQUPS EFFODFOEJEPBMBQPTJDJ䜽O$$ HJSF MBMMBWFNJFOUSBTNVFWFFMWPMBOUFEF EFSFDIB B J[RVJFSEB QBSB MJCFSBS MB UFOTJ䜽O 0/ 4F QVFEFO DPNQSPCBS MBT MVDFT EF BEa WFSUFODJB BOUFT EF BSSBODBS FM NPUPS TUBFTMBQPTJDJ䜽OOPSNBMEFGVODJPOBa NJFOUPBOUFTEFBSSBODBSFMNPUPS /PEFKFFMJOUFSSVQUPSEFFODFOEJEPFO 0/TJFMNPUPSOPGVODJPOBQBSBFWJUBS EFTDBSHBTEFMBCBUFS䜷B 4535 SSBORVF 1PTJDJPOFMBMMBWFFO4535QBSBBSSBOa DBSFMNPUPSMNPUPSBSSBODBS䜫IBTUB RVFTVFMUFMBMMBWF QPTJDJ䜽OFMBEFOVFWP FO 0/ 4F QVFEF DPNQSPCBS MB MV[ EF BEWFSUFODJBFOFTUBQPTJDJ䜽O %735/$* *OUFSSVQUPSEFFODFOEJEP 䳜 /VODB HJSF MB MMBWF EFTEF MB QPTJa DJ䜽O$$B-0$,NJFOUSBTFMWFI䜷a DVMP TF NVFWF 1PES䜷B QSPWPDBS VOBQ䜳SEJEBEFDPOUSPMEFMBEJSFDa DJ䜽OZEFMPTGSFOPT MPRVFDBVTBa S䜷BVOBDDJEFOUF 䳜 MCMPRVFPBOUJSSPCPEFMBDPMVNOB EFEJSFDDJ䜽OOPTVTUJUVZFFMVTPEFM GSFOP EF FTUBDJPOBNJFOUP OUFT EFBCBOEPOBSFMWFI䜷DVMP BTFH䝄SFa TFEFRVFMBQBMBODBEFDBNCJPFTa U䜳FOHSBOBEBFOMB䛴NBSDIBQBa SBFMUSBOTFKFNBOVBMPFOMBQPTJa DJ䜽O 1 FTUBDJPOBNJFOUP QBSB FM USBOTFKFBVUPN䜫UJDPDDJPOFDPNa QMFUBNFOUFFMGSFOPEFFTUBDJPOBa NJFOUPZBQBHVFFMNPUPS4JOPTF SFBMJ[BOFTUBTPQFSBDJPOFT QVFEFO QSPEVDJSTF NPWJNJFOUPT JOFTQFSBa EPTPSFQFOUJOPT $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 264. $POUJO䝄B 䳜 /VODB JOUFOUFBMDBO[BS MB MMBWF EF FODFOEJEPPDVBMRVJFSPUSPDPOUSPM B USBW䜳T EFM WPMBOUF NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJNJFOUP -B QSFTFODJB EF MB NBOP P CSB[P FO FTUB[POBQPES䜷BQSPWPDBSMBQ䜳SEJa EBEFMDPOUSPMEFMWFI䜷DVMP VOBDDJa EFOUFZMFTJPOFTDPSQPSBMFTHSBWFT PMBNVFSUF 䳜 /P DPMPRVF OJOH䝄O PCKFUP NPWJCMF BMSFEFEPSEFMBTJFOUPEFMDPOEVDUPS ZBRVFTFQPES䜷BNPWFSEVSBOUFMB DPOEVDDJ䜽OFJOUFSGFSJSDPOFMDPOa EVDUPSZDBVTBSVOBDDJEFOUF SSBORVFEFMNPUPS %735/$* 䳜 -MFWF TJFNQSF [BQBUPT BEFDVBEPT DVBOEPNBOFKFFMWFI䜷DVMP-PT[Ba QBUPT JOBEFDVBEPT EF UBD䜽O CPa UBTEFFTRV䜷 FUD QPES䜷BOJOUFSGFa SJSBMBIPSBEFVTBSMPTQFEBMFTEFM GSFOP EFMBDFMFSBEPSZEFMFNCSBa HVF TJFTU䜫FRVJQBEP $POUJO䝄B $POUJO䝄B 䳜 /PBSSBORVFFMWFI䜷DVMPQJTBOEPFM QFEBM EFM BDFMFSBEPS M WFI䜷DVMP QPES䜷BNPWFSTFZQSPWPDBSVOBDDJa EFOUF 䳜 TQFSFIBTUBRVFMBTSQNEFMNPa UPSTFBOOPSNBMFTMWFI䜷DVMPQPa ES䜷B NPWFSTF SFQFOUJOBNFOUF BM TPMUBSFMQFEBMEFMGSFOPTJMBTSQN TPOBMUBT /05 .FDBOJTNP EF SFEVDDJ䜽O EF NBSDIBT TJFTU䜫FRVJQBEP 4J TV WFI䜷DVMP FTU䜫 FRVJQBEP DPO VO NFDBOJTNPT EF SFEVDDJ䜽O EF NBSa DIBTFOFMQFEBMEFMBDFMFSBEPS FTUP FWJUBRVFTFDPOEV[DBTJORVFSFSDPO MB W䜫MWVMB EF NBSJQPTB BM DPNQMFUP MPRVFIBS䜷BRVFFMDPOEVDUPSOFDFTJa UBTFVONBZPSFTGVFS[PQBSBQJTBSFM QFEBMEFMBDFMFSBEPS4JOFNCBSHP TJ QJTBFMQFEBMIBTUBFM MBW䜫MWVMB EFNBSJQPTBTFBCSJS䜫DPNQMFUBNFOa UFZFMQFEBMEFMBDFMFSBEPSTFQVFEF $POUJO䝄B $POUJO䝄B QJTBS DPO NBZPS GBDJMJEBE /P FT VO GBMMPTJOPVOBDPOEJDJ䜽OOPSNBM SSBORVFEFMNPUPSEFHBTPMJOB TFH䝄SFTF EF BDDJPOBS FM GSFOP EF FTUBDJPOBNJFOUP 5 5SBOTNJTJ䜽ONBOVBM1JTFBGPOEP FMFNCSBHVFZBDDJPOFMBQBMBODBEF DBNCJPTFOFMQVOUPNVFSUP.BOa UFOHBQJTBEPFMFNCSBHVFZFMGSFa OP NJFOUSBT HJSB MB MMBWF B MB QPTJa DJ䜽OEFBSSBORVF 5SBOTNJTJ䜽OBVUPN䜫UJDBDPMPRVFMB QBMBODB EF DBNCJPT EF MB USBOTNJa TJ䜽OFO1 FTUBDJPOBNJFOUP 1JTFB GPOEPFMQFEBMEFMGSFOP 1VFEFBSSBODBSFMNPUPSDVBOEPMB QBMBODBEFDBNCJPTFTU䜫FOMBQPTJa DJ䜽O/ QVOUPNVFSUP (JSFMBMMBWFB4535 JOJDJP ZNBOa U䜳OHBMB BRV䜷 IBTUB RVF FM NPUPS BSSBORVF VO N䜫YJNP EF TFHVOEPT EFTQV䜳TTVFMUFMBMMBa WF %FCFS䜷B BSSBODBS T TJO QJTBS FM QFEBM EFMBDFMFSBEPS $POEVDJSTVWFI䜷DVMP
- 265. /PFTQFSFBRVFFMNPUPSTFDBMJFOa UFDPOFMWFI䜷DVMPQBSBEP *OJDJFMBDPOEVDDJ䜽OBWFMPDJEBENPa EFSBEBEFMNPUPS WJUFBDFMFSBSZ EFTBDFMFSBSCSVTDBNFOUF 5 5SBOTFKFNBOVBM 䳜M BSSBODBS FM WFI䜷DVMP NBOUFOHB FM QFEBMEFMFNCSBHVFZEFMGSFOPQJTBa EPT WFSJGJRVF TJ MBT SQN TF FODVFOa USBOEFOUSPEFMSBOHPBEFDVBEPZDPa MPRVFMBQBMBODBEFDBNCJPTFOMBQPa TJDJ䜽OSFRVFSJEB 䳜 4VFMUF FM GSFOP EF FTUBDJPOBNJFOUP RVJUF FM QJF EFM QFEBM EFM FNCSBHVF QJTF FM QFEBM EFM BDFMFSBEPS Z BSSBOa RVFMFOUBNFOUFFMWFI䜷DVMP 5/$*䜝/ 4JFMNPUPSTFDBMBNJFOUSBTFMWFI䜷a DVMPTFNVFWF OPJOUFOUFEFTQMB[BS MBQBMBODBEFDBNCJPTBMBQPTJDJ䜽O1 FTUBDJPOBNJFOUP 4JFMUS䜫GJDPPMBT DPOEJDJPOFTEFMBDBSSFUFSBMPQFSNJa UFO QVFEFTJUVBSMBQBMBODBEFDBNa CJPTFOMBQPTJDJ䜽O/ QVOUPNVFSUP NJFOUSBTFMWFI䜷DVMPUPEBW䜷BFTU䜫FO NPWJNJFOUPZHJSFMBMMBWFBQPTJDJ䜽O $POUJO䝄B $POUJO䝄B 4535 JOJDJP QBSBJOUFOUBSWPMWFSB BSSBODBSFMNPUPS 5/$*䜝/ 䳜 /PFODJFOEBFMNPUPSEFBSSBORVF EVSBOUFN䜫TEFTFHVOEPT4JFM NPUPS TF DBMB P FM BSSBORVF GBMMB FTQFSF EF B TFHVOEPT BOUFT EF WPMWFS B FODFOEFS FM NPUPS EF BSSBORVF M VTP JOEFCJEP EFM NPa UPSEFBSSBORVFQPES䜷BEB䜻BSMP 䳜 /PHJSFFMJOUFSSVQUPSEFFODFOEJEP B MB QPTJDJ䜽O 4535 JOJDJP DPO FM NPUPS FO NBSDIB 1PES䜷B EB䜻BS FM NPUPSEFBSSBORVF 1BSBEBEFMNPUPS 5SBOTFKFNBOVBM $VBOEP FM WFI䜷DVMP FTU䜳 FTUBDJPOBa EP QJTFMPTQFEBMFTEFMGSFOPZEFM FNCSBHVFBMNJTNPUJFNQP $POMPTQFEBMFTEFMGSFOPZEFMFNa CSBHVFQJTBEPT EFTQMBDFMBQBMBODB EFDBNCJPTB/ QVOUPNVFSUP $POFMQFEBMEFMGSFOPQJTBEP BDDJPa OFFMGSFOPEFFTUBDJPOBNJFOUP $PMPRVFFMJOUFSSVQUPSEFFODFOEJEP FOMBQPTJDJ䜽OEFCMPRVFPZFYUS䜫Ja HBMP 5SBOTFKFBVUPN䜫UJDP $VBOEP FM WFI䜷DVMP FTU䜳 FTUBDJPOBa EP QJTFFMQFEBMEFMGSFOP $POFMQFEBMEFMGSFOPQJTBEP EFTa QMBDFMBQBMBODBEFDBNCJPTB1 FTa UBDJPOBNJFOUP $POFMQFEBMEFMGSFOPQJTBEP BDDJPa OFFMGSFOPEFFTUBDJPOBNJFOUP $PMPRVFFMJOUFSSVQUPSEFFODFOEJEP FOMBQPTJDJ䜽OEFCMPRVFPZFYUS䜫Ja HBMP 5/$*䜝/ 䳜 WJUF QPOFS FM WFI䜷DVMP B SBMFOU䜷 B WFMPDJEBEFT FMFWBEBT KVTUP BOUFT EFBQBHBSFMNPUPS $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 266. $POUJO䝄B 䳜 $VBOEPFMWFI䜷DVMPFTU䜳FTUBDJPOBa EPFOVOBQFOEJFOUF BTFH䝄SFTFEF EFTQMB[BSFMUSBOTFKFB1FTUBDJPa OBNJFOUP FOFMDBTPEFVOUSBOa TFKF BVUPN䜫UJDP O MPT WFI䜷DVMPT DPO USBOTFKF NBOVBM EFTQMBDF FM USBOTFKF B MB 䛴 NBSDIB FO QFOa EJFOUFT BTDFOEFOUFT B 3 NBSDIB BUS䜫T FOQFOEJFOUFTEFTDFOEFOUFT ZDPMPRVFDBM[PTEFCBKPEFMPTOFVa N䜫UJDPT 䳜 OMPTWFI䜷DVMPTDPOUSBOTFKFBVUPa N䜫UJDP BTFH䝄SFTFEFRVFMBQBMBOa DB EF DBNCJPT TF FODVFOUSF FO 1 FTUBDJPOBNJFOUP BM FTUBDJPOBS FM WFI䜷DVMP%FMPDPOUSBSJP FMWFI䜷DVa MP TF QPES䜷B EFTQMB[BS B DBVTB EF JNQBDUPTFYUFSOPT %735/$* /PFTUBDJPOFFMWFI䜷DVMPFOVOBQFOa EJFOUF QSPOVODJBEB 1PES䜷B QSPWPDBS FMEFTQMB[BNJFOUPEFMWFI䜷DVMP 4JTUFNBBVYJMJBSQBSBFM BSSBORVFFOGS䜷P WFI䜷DVMPEF DPNCVTUJCMF'MFY QBSB#SBTJMZ 1BSBHVBZ 4JBSSBODBFMNPUPSFRVJQBEPDPOFMTJTa UFNB'MFYDVBOEPMBUFNQFSBUVSBFYUFa SJPSFTCBKB JOGFSJPSB䛺$ FMTJTUFNB BVYJMJBSQBSBFMBSSBORVFFOGS䜷PTFBDa DJPOBS䜫 BVUPN䜫UJDBNFOUF EFQFOEJFOEP EFMBTDPOEJDJPOFTEFVTP 1BSBBSSBODBSFMWFI䜷DVMPEFDPNCVTUJa CMF'MFY ''7 DVBOEPFMNPUPSFTU䜫GS䜷P ZMBUFNQFSBUVSBFYUFSJPSFTCBKB JOGFa SJPSB䛺$ EFCFS䜷BIBCFSHBTPMJOBFO FMEFQ䜽TJUP 1BSBFMMMFOBEPEFMBHBTPMJOB DPOTVMUF 䳖%FQ䜽TJUP EF HBTPMJOB FO FM DPNQBSUJa NFOUPEFMNPUPS WFI䜷DVMPEFDPNCVTa UJCMF'MFY QBSB#SBTJMZ1BSBHVBZ 䳗FOMB Q䜫HJOBZ䳖.PUPSEFHBTPMJOB䳗FOMB Q䜫HJOB $POEVDJSTVWFI䜷DVMP
- 267. # #05䜝//(*/45354501 */*$*013%%-.0503 4*45䜋26*1%0 #PU䜽O/(*/45354501 JOJDJPQBSBEBEFMNPUPS JMVNJOBEP $BEBWF[RVFTFBCSFVOBQVFSUBEFMBOa UFSB FMCPU䜽O/(*/45354501 JOJa DJPQBSBEB EFM NPUPS TF JMVNJOBS䜫 DPa NP BZVEB -B MV[ TF BQBHB VOPT TFHVOEPTEFTQV䜳TEFDFSSBSMBQVFSa UB4FBQBHBS䜫JONFEJBUBNFOUFDVBOEP TFBDUJWFFMTJTUFNBEFBMBSNB 1PTJDJ䜽OEFMCPU䜽O/(*/ 45354501 JOJDJPQBSBEBEFM NPUPS 0'' 䳜 $ $POUSBOTFKFNBOVBM 1BSBBQBHBSFMNPUPS QPa TJDJ䜽O 453536/ P MB QPUFODJB EFM WFI䜷DVMP QPa TJDJ䜽O0/ QBSFFMWFI䜷DVMP Z EFTQV䜳T QVMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS 䳜 $ $POUSBOTFKFBVUPN䜫UJDP QBHVF FM NPUPS QPTJDJ䜽O 4535 36/ PQPUFODJBEFMWFI䜷DVMP QPTJDJ䜽O 0/ QVMTF FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEBEFMNPUPS DPOMB QBMBODB EF DBNCJPT FO MB QPTJDJ䜽O 1 FTUBDJPOBNJFOUP $VBOEP QVMTB FM CPU䜽O /(*/ 45354501 JOJDJP QBSBEB EFM NPUPS TJO DPMPDBS MB QBa MBODB EF DBNCJPT FO 1 FTUBDJPOBa NJFOUP FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEB EFM NPUPS OP DBNCJBS䜫 B MB QPTJDJ䜽O 0'' TJOP B MB QPTJDJ䜽O$$ $PNP QSPUFDDJ䜽O BOUJSSPCP UBNCJ䜳O TFCMPRVFBFMWPMBOUFDVBOEPTFDPMPa DBFMCPU䜽O/(*/45354501 JOJa DJPQBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0''4FCMPRVFBBMBCSJSMBQVFSUB 7FI䜷DVMPT FRVJQBEPT DPO CMPRVFP BOUJa SSPCPEFMBDPMVNOBEFMBEJSFDDJ䜽O $PNPQSPUFDDJ䜽OBOUJSSPCP UBNCJ䜳OTF CMPRVFB FM WPMBOUF DVBOEP TF DPMPDB FM CPU䜽O /(*/ 45354501 JOJDJP QBSBEBEFMNPUPS FOMBQPTJDJ䜽O0''4F CMPRVFBBMBCSJSMBQVFSUB 4J FM WPMBOUF OP FTU䜫 DPSSFDUBNFOUF CMPRVFBEP DVBOEP BCSB MB QVFSUB EFM DPOEVDUPS TPOBS䜫MBTF䜻BMBD䝄TUJDB4JFM QSPCMFNB OP TF IB SFTVFMUP TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP EFN䜫T TJ FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEBEFMNPUPS FTU䜫FO MBQPTJDJ䜽O0''VOBWF[RVFTFBCSFMB QVFSUB EFM DPOEVDUPS FM WPMBOUF OP TF CMPRVFBS䜫ZTPOBS䜫MBTF䜻BMBD䝄TUJDBO FTFDBTP DJFSSFMBQVFSUBMWPMBOUFTF CMPRVFBS䜫ZMBMV[BD䝄TUJDBEFKBS䜫EFTPa OBS /05 4J FM WPMBOUF OP TF CMPRVFB BEFDVBa EBNFOUF FM CPU䜽O /(*/ 4535 $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 268. $POUJO䝄B 4501 JOJDJPQBSBEBEFMNPUPS EFKBa S䜫EFGVODJPOBS1VMTFFMCPU䜽O/(*a /45354501 JOJDJPQBSBEB EFM NPUPS NJFOUSBTHJSBFMWPMBOUFBMB EFSFDIBZBMBJ[RVJFSEBQBSBMJCFSBS MBUFOTJ䜽O 䳜 4J OP FT DBQB[ EF HJSBS FM CPU䜽O /(*/ 45354501 JOJDJPQBSBa EBEFMNPUPS BMBQPTJDJ䜽O$$ HJa SFFMWPMBOUFBMBEFSFDIBZBMBJ[a RVJFSEB QBSB MJCFSBS MB UFOTJ䜽O NJFOUSBT QVMTB FM CPU䜽O /(*/ 45354501 䳜 MBQBHBSFMNPUPS FMWFI䜷DVMPEFa CFS䜷BFTUBSQBSBEP 5/$*䜝/ 1PES䜫BQBHBSFMNPUPS 453536/ P MB BMJNFOUBDJ䜽O EFM WFI䜷DVMP 0/ T䜽MP DVBOEP FM WFI䜷DVMP OP FTU䜳 FO NPWJNJFOUP O DBTP EF FNFSHFODJB NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJa NJFOUP QVFEFBQBHBSFMNPUPSPDPa MPDBSMPFO$$QVMTBOEPFMCPU䜽O/a $POUJO䝄B $POUJO䝄B (*/ 45354501 JOJDJPQBSBEB EFM NPUPS EVSBOUFN䜫TEFTFHVOEPTP WFDFT TFHVJEBT FO FM QMB[P EF TFHVOEPT 4J FM WFI䜷DVMP TF TJHVF NPWJFOEP QVFEF SFJOJDJBS FM NPUPS TJOQJTBSFMQFEBMEFMGSFOPQVMTBOEP FMCPU䜽O/(*/45354501 JOJDJP QBSBEBEFMNPUPS DPOMBQBMBODBEF DBNCJP FO MB QPTJDJ䜽O / QVOUP NVFSUP $$ DDFTPSJP 䳜 $ $POUSBOTFKFNBOVBM 1VMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBa EBEFMNPUPS NJFOUSBTFM CPU䜽O FTU䜫 FO MB QPTJDJ䜽O 0''TJOQJTBSFMQFEBMEFMFNCSBHVF 䳜 $ $POUSBOTFKFBVUPN䜫UJDP 1VMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPUPS NJFOUSBT FTU䜫FOMBQPTJDJ䜽O0'' EFTBDUJWBEP TJOQJTBSFMQFEBMEFMGSFOP M WPMBOUF TF EFTCMPRVFB Z MPT BDDFa TPSJPTFM䜳DUSJDPTFTU䜫OPQFSBUJWPT 4JFMCPU䜽O/(*/45354501 JOJa DJPQBSBEB EFM NPUPS FTU䜫 EVSBOUF N䜫T EF VOB IPSB FO MB QPTJDJ䜽O $$ FMCPU䜽OTFBQBHBS䜫BVUPN䜫UJDBNFOa UFQBSBFWJUBSRVFTFEFTDBSHVFMBCBa UFS䜷B 0/ 䳜 $ $POUSBOTFKFNBOVBM 1VMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBa EBEFMNPUPS NJFOUSBTFM CPU䜽O FTU䜫 FO MB QPTJDJ䜽O $$TJOQJTBSFMQFEBMEFMFNCSBHVF $POEVDJSTVWFI䜷DVMP
- 269. 䳜 $ $POUSBOTFKFBVUPN䜫UJDP 1VMTF FMCPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPUPS NJFOUSBT FTU䜫FOMBQPTJDJ䜽O$$TJOQJTBSFMQFa EBMEFMGSFOP 4FQVFEFODPNQSPCBSMBTMVDFTEFBEa WFSUFODJBBOUFTEFBSSBODBSFMNPUPS /PEFKFFMCPU䜽O/(*/45354501 JOJDJPQBSBEB EFM NPUPS FO MB QPTJa DJ䜽O 0/ BDUJWBEP EVSBOUF VO MBSHP QFSJPEP EF UJFNQP -B CBUFS䜷B QVFEF EFTDBSHBSTF QPSRVFFMNPUPSOPFTU䜫 GVODJPOBOEP 453536/ JOJDJP BSSBORVF 䳜 $ $POUSBOTFKFNBOVBM 1BSB QPOFS FO NBSDIB FM NPUPS QJTF FM QFEBM EFM FNCSBHVF Z EFM GSFOP EFTQV䜳T QVMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS DPO MB QBMBODB EF DBNCJP FO MB QPTJDJ䜽O/ QVOUPNVFSUP 䳜 $ $POUSBOTFKFBVUPN䜫UJDP 1BSBBSSBODBSFMNPUPS QJTFFMQFEBM EFM GSFOP Z QVMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS DPO MB QBMBODB EF DBNCJP FO 1 FTUBDJPOBNJFOUP P FO MB QPTJDJ䜽O / QVOUP NVFSUP 1PS NPUJWPT EF TFa HVSJEBE BSSBORVFFMNPUPSDPOMBQBa MBODBEFDBNCJPTFOMBQPTJDJ䜽O1 FTa UBDJPOBNJFOUP /05 4J QVMTB FM CPU䜽O /(*/ 4535 4501TJOQJTBSFMQFEBMEFMFNCSBHVF FOMPTWFI䜷DVMPTEFUSBOTNJTJ䜽ONBa OVBMPTJOQJTBSFMQFEBMEFMGSFOPFO MPT WFI䜷DVMPT EF USBOTNJTJ䜽O BVUPa N䜫UJDB FMNPUPSOPBSSBODBZFMCPa U䜽O /(*/ 45354501 JOJDJP QBSBEB EFM NPUPS DBNCJB EF MB TJa HVJFOUFGPSNB 0'' $$ 0/ 0''P$$ /05 4JEFKBFMCPU䜽O/(*/45354501 BSSBORVFQBSBEB EFM NPUPS FO MB $POUJO䝄B $POUJO䝄B QPTJDJ䜽O$$PFOMBQPTJDJ䜽O0/EVa SBOUFNVDIPUJFNQP TFQVFEFEFTa DBSHBSMBCBUFS䜷B %735/$* 䳜 /VODB QVMTF FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEBEFMNPa UPS NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJNJFOUP 1PES䜷B QSPWPDBS VOB Q䜳SEJEBEFDPOUSPMEFMBEJSFDDJ䜽OZ EF MPT GSFOPT MP RVF DBVTBS䜷B VO BDDJEFOUF 䳜 MCMPRVFPBOUJSSPCPEFMBDPMVNOB EFEJSFDDJ䜽OOPTVTUJUVZFFMVTPEFM GSFOP EF FTUBDJPOBNJFOUP OUFT EF BCBOEPOBS FM BTJFOUP EFM DPOa EVDUPS BTFH䝄SFTF TJFNQSF EF RVF MBQBMBODBEFDBNCJPTFTU䜳FOHSBa OBEB FO MB QPTJDJ䜽O 1 FTUBDJPOBa NJFOUP BDDJPOFDPNQMFUBNFOUFFM GSFOP EF FTUBDJPOBNJFOUP Z BQBa HVFFMNPUPS4JOPTFSFBMJ[BOFTa UBT PQFSBDJPOFT QVFEFO QSPEVDJSa TF NPWJNJFOUPT JOFTQFSBEPT P SFa QFOUJOPT $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 270. $POUJO䝄B 䳜 /VODB JOUFOUFBMDBO[BS FM CPU䜽O /(*/45354501 JOJDJPQBSBEB EFMNPUPS PDVBMRVJFSPUSPDPOUSPM B USBW䜳T EFM WPMBOUF NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJNJFOUP -B QSFTFODJB EF MB NBOP P EFM CSB[P FO FTUB [POB QPES䜷B QSPWPDBS MB Q䜳SEJEB EFM DPOUSPM EFM WFI䜷DVMP Z MFTJPOFT DPSQPSBMFT HSBWFT P MB NVFSUF 䳜 /PDPMPRVFOJOH䝄OPCKFUPN䜽WJMBMa SFEFEPSEFMBTJFOUPEFMDPOEVDUPS ZBRVFTFQPES䜷BNPWFSEVSBOUFMB DPOEVDDJ䜽O JOUFSGFSJS DPO FM DPOa EVDUPSZDBVTBSVOBDDJEFOUF SSBORVFEFMNPUPS %735/$* 䳜 -MFWF TJFNQSF [BQBUPT BEFDVBEPT DVBOEPNBOFKFFMWFI䜷DVMP-PT[Ba QBUPT JOBEFDVBEPT EF UBD䜽O CPa UBTEFFTRV䜷 FUD QVFEFOJOUFSGFa SJSBMBIPSBEFVTBSMPTQFEBMFTEFM GSFOPPEFMBDFMFSBEPS $POUJO䝄B $POUJO䝄B 䳜 /PBSSBORVFFMWFI䜷DVMPQJTBOEPFM QFEBM EFM BDFMFSBEPS M WFI䜷DVMP QPES䜷BNPWFSTFZQSPWPDBSVOBDDJa EFOUF 䳜 TQFSFIBTUBRVFMBTSQNEFMNPa UPSTFBOOPSNBMFTMWFI䜷DVMPQPa ES䜷B NPWFSTF SFQFOUJOBNFOUF BM TPMUBSFMQFEBMEFMGSFOPTJMBTSQN TPOBMUBT /05 .FDBOJTNP EF SFEVDDJ䜽O EF NBSDIBT TJFTU䜫FRVJQBEP 4J TV WFI䜷DVMP FTU䜫 FRVJQBEP DPO VO NFDBOJTNPT EF SFEVDDJ䜽O EF NBSa DIBTFOFMQFEBMEFMBDFMFSBEPS FTUP FWJUBRVFTFDPOEV[DBTJORVFSFSDPO MB W䜫MWVMB EF NBSJQPTB BM DPNQMFUP MPRVFIBS䜷BRVFFMDPOEVDUPSOFDFTJa UBTFVONBZPSFTGVFS[PQBSBQJTBSFM QFEBMEFMBDFMFSBEPS4JOFNCBSHP TJ QJTBFMQFEBMIBTUBFM MBW䜫MWVMB EFNBSJQPTBTFBCSJS䜫DPNQMFUBNFOa UFZFMQFEBMEFMBDFMFSBEPSTFQVFEF $POUJO䝄B $POUJO䝄B QJTBS DPO NBZPS GBDJMJEBE /P FT VO GBMMPTJOPVOBDPOEJDJ䜽OOPSNBM SSBORVFEFMNPUPSEFHBTPMJOB -MFWF MB MMBWF JOUFMJHFOUF DPOTJHP P E䜳KFMBFOFMJOUFSJPSEFMWFI䜷DVMP TFH䝄SFTFEFRVFFMGSFOPEFFTUBa DJPOBNJFOUP FTU䜳 GJSNFNFOUF BDa DJPOBEP 5 5SBOTNJTJ䜽ONBOVBM1JTFBGPOEP FMFNCSBHVFZBDDJPOFMBQBMBODBEF DBNCJPTFOFMQVOUPNVFSUP.BOa UFOHBQJTBEPFMFNCSBHVFZFMGSFa OPNJFOUSBTBSSBODBFMNPUPS 5SBOTNJTJ䜽OBVUPN䜫UJDBDPMPRVFMB QBMBODB EF DBNCJPT EF MB USBOTNJa TJ䜽OFO1 FTUBDJPOBNJFOUP 1JTFB GPOEPFMQFEBMEFMGSFOP 1VFEFBSSBODBSFMNPUPSDVBOEPMB QBMBODBEFDBNCJPTFTU䜫FOMBQPTJa DJ䜽O/ QVOUPNVFSUP 1VMTFFMCPU䜽O/(*/45354501 JOJDJPQBSBEB EFM NPUPS %FCFS䜷B BSSBODBST TJOQJTBSFMQFEBMEFMBDFMFa SBEPS $POEVDJSTVWFI䜷DVMP
- 271. /PFTQFSFBRVFFMNPUPSTFDBMJFOa UFDPOFMWFI䜷DVMPQBSBEP *OJDJFMBDPOEVDDJ䜽OBWFMPDJEBENPa EFSBEBEFMNPUPS WJUFBDFMFSBSZ EFTBDFMFSBSCSVTDBNFOUF 5 5SBOTFKFNBOVBM 䳜M BSSBODBS FM WFI䜷DVMP NBOUFOHB FM QFEBMEFMFNCSBHVFZEFMGSFOPQJTBa EPT WFSJGJRVF TJ MBT SQN TF FODVFOa USBOEFOUSPEFMSBOHPBEFDVBEPZDPa MPRVFMBQBMBODBEFDBNCJPTFOMBQPa TJDJ䜽OSFRVFSJEB 䳜 4VFMUF FM GSFOP EF FTUBDJPOBNJFOUP RVJUF FM QJF EFM QFEBM EFM FNCSBHVF QJTF FM QFEBM EFM BDFMFSBEPS Z BSSBOa RVFMFOUBNFOUFFMWFI䜷DVMP 5/$*䜝/ /PHJSFFMJOUFSSVQUPSEFFODFOEJEPB MBQPTJDJ䜽O4535 JOJDJP DPOFMNPa UPSFONBSDIB1PES䜷BEB䜻BSFMNPUPS EFBSSBORVF 䳜 *ODMVTPTJMBMMBWFJOUFMJHFOUFFTU䜫FOFM WFI䜷DVMP TJFTU䜫MFKPTEFVTUFE FMNPa UPSQPES䜷BOPBSSBODBS 䳜 $VBOEPFMCPU䜽O/(*/45354501 JOJDJPQBSBEB EFM NPUPS FTU䜫 FO MB QPTJDJ䜽O $$ P FO MB BOUFSJPS TJ MB QVFSUBFTU䜫BCJFSUB FMTJTUFNBDPNa QSVFCB MB MMBWF JOUFMJHFOUF 4J MB MMBWF JOUFMJHFOUF OP FTU䜫 FO FM WFI䜷DVMP FM JOEJDBEPS P QBSQBEFBS䜫Z TFJMVNJOBS䜫MBBEWFSUFODJBEF,FZJT OPU JO WFIJDMF MB MMBWF OP FTU䜫 FO FM WFI䜷DVMP FO MB QBOUBMMB -$% 4J MBT QVFSUBT FTU䜫O DFSSBEBT MB TF䜻BM BD䝄TUJDBTPOBS䜫EVSBOUFTFHVOEPT M JOEJDBEPS P MB BEWFSUFODJB TF BQBa HBS䜫NJFOUSBTFMWFI䜷DVMPTFFTU䜫NPa WJFOEP-MFWFTJFNQSFDPOTJHPMBMMBWF JOUFMJHFOUF %735/$* M NPUPS BSSBODBS䜫 T䜽MP DVBOEP MB MMBWFJOUFMJHFOUFFTU䜳EFOUSPEFMWFI䜷a DVMP /P QFSNJUB UPDBS FM CPU䜽O /(*/ 45354501 JOJDJPQBSBEB EFM NPa UPS PQJF[BTSFMBDJPOBEBTBMPTOJ䜻PT PBRVFMMBTQFSTPOBTRVFOPDPOPDFO FMWFI䜷DVMP 5/$*䜝/ 4JFMNPUPSTFDBMBNJFOUSBTFMWFI䜷a DVMPTFNVFWF OPNVFWBMBQBMBODB EFDBNCJPTBMBQPTJDJ䜽O1 FTUBDJPa OBNJFOUP 4J FM US䜫GJDP P MBT DPOEJa DJPOFT EF MB DBSSFUFSB MP QFSNJUFO QVFEF DPMPDBS MB QBMBODB EF DBNCJP FO MB QPTJDJ䜽O / QVOUP NVFSUP NJFOUSBTFMWFI䜷DVMPUPEBW䜷BFTU䜫FO NPWJNJFOUP Z QVMTBS FM CPU䜽O /(*a / 45354501 JOJDJPQBSBEB EFM NPUPS QBSBJOUFOUBSSFJOJDJBSFMNPa UPS $POEVDJSTVWFI䜷DVMP
- 272. / /05 䳜 4JRVFEBQPDBCBUFS䜷BPMBMMBWFJOa UFMJHFOUF OPGVODJPOB DPSSFDUBa NFOUF QVFEF BSSBODBS FM NPUPS QVMTBOEPFMCPU䜽O/(*/4535 4501 JOJDJPQBSBEBEFMNPUPS DPO MBMMBWFJOUFMJHFOUF $POUJO䝄B $POUJO䝄B 䳜 $VBOEP FM GVTJCMF EFM JOUFSSVQUPS EFGSFOPFTU䜫GVOEJEP FMNPUPSOP TFQVFEFBSSBODBSDPOOPSNBMJEBE $BNCJFFMGVTJCMFQPSVOPOVFWP4J OP FT QPTJCMF QVFEF BSSBODBS FM WFI䜷DVMPQVMTBOEPFMCPU䜽O/(*/ 45354501 JOJDJPQBSBEB EFM NPUPS EVSBOUFTFHVOEPTFOMB QPTJDJ䜽O$$ BDDFTPSJPT MNPUPS QVFEFBSSBODBSTFTJOQJTBSFMQFEBM EFM GSFOP 1FSP QPS TV TFHVSJEBE QJTF FM QFEBM EFM GSFOP BOUFT EF BSSBODBSFMNPUPS 5/$*䜝/ /P QVMTF FM CPU䜽O /(*/ 4535 4501 JOJDJPQBSBEB EFM NPUPS EVa SBOUF N䜫T EF TFHVOEPT FYDFQUP TJ FM GVTJCMF EF MB MV[ EF GSFOP FTU䜫 GVOEJEP 1BSBEBEFMNPUPS 5SBOTFKFNBOVBM $VBOEP FM WFI䜷DVMP FTU䜳 FTUBDJPOBa EP QJTFMPTQFEBMFTEFMGSFOPZEFM FNCSBHVFBMNJTNPUJFNQP $POMPTQFEBMFTEFMGSFOPZEFMFNa CSBHVFQJTBEPT EFTQMBDFMBQBMBODB EFDBNCJPTB/ QVOUPNVFSUP $POFMQFEBMEFMGSFOPQJTBEP BDDJPa OFFMGSFOPEFFTUBDJPOBNJFOUP 1VMTFFMJOUFSSVQUPSEFFODFOEJEPZ BQBHVFFMNPUPS 5SBOTFKFBVUPN䜫UJDP $VBOEP FM WFI䜷DVMP FTU䜳 FTUBDJPOBa EP QJTFFMQFEBMEFMGSFOP $POFMQFEBMEFMGSFOPQJTBEP EFTa QMBDFMBQBMBODBEFDBNCJPTB1 FTa UBDJPOBNJFOUP $POFMQFEBMEFMGSFOPQJTBEP BDDJPa OFFMGSFOPEFFTUBDJPOBNJFOUP 1VMTFFMJOUFSSVQUPSEFFODFOEJEPZ BQBHVFFMNPUPS 5/$*䜝/ 䳜 WJUF QPOFS FM WFI䜷DVMP B SBMFOU䜷 B WFMPDJEBEFT FMFWBEBT KVTUP BOUFT EFBQBHBSFMNPUPS $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 273. $POUJO䝄B 䳜 $VBOEPFMWFI䜷DVMPFTU䜳FTUBDJPOBa EPFOVOBQFOEJFOUF BTFH䝄SFTFEF EFTQMB[BSFMUSBOTFKFB1FTUBDJPa OBNJFOUP FOFMDBTPEFVOUSBOa TFKF BVUPN䜫UJDP O MPT WFI䜷DVMPT DPO USBOTFKF NBOVBM EFTQMBDF FM USBOTFKF B MB 䛴 NBSDIB FO QFOa EJFOUFT BTDFOEFOUFT B 3 NBSDIB BUS䜫T FOQFOEJFOUFTEFTDFOEFOUFT ZDPMPRVFDBM[PTEFCBKPEFMPTOFVa N䜫UJDPT 䳜 OMPTWFI䜷DVMPTDPOUSBOTFKFBVUPa N䜫UJDP BTFH䝄SFTFEFRVFMBQBMBOa DB EF DBNCJPT TF FODVFOUSF FO 1 FTUBDJPOBNJFOUP BM FTUBDJPOBS FM WFI䜷DVMP%FMPDPOUSBSJP FMWFI䜷DVa MP TF QPES䜷B EFTQMB[BS B DBVTB EF JNQBDUPTFYUFSOPT %735/$* /PFTUBDJPOFFMWFI䜷DVMPFOVOBQFOa EJFOUF QSPOVODJBEB 1PES䜷B QSPWPDBS FMEFTQMB[BNJFOUPEFMWFI䜷DVMP $POEVDJSTVWFI䜷DVMP
- 274. 4 4*45.*4( *%-4501/%(0 4*45䜋26*1%0 4VWFI䜷DVMPQVFEFFTUBSFRVJQBEPDPOFM TJTUFNB*4( RVFSFEVDFFMDPOTVNPEF DPNCVTUJCMFBQBHBOEPBVUPN䜫UJDBNFOa UFFMNPUPSDVBOEPFMWFI䜷DVMPTFEFUJFa OF 1PSFKFNQMPTFN䜫GPSPFOSPKP TFa 䜻BMEFTUPQZBUBTDPEFUS䜫GJDP M NPUPS TF BSSBODB BVUPN䜫UJDBNFOUF FO DVBOUP TF DVNQMFO MBT DPOEJDJPOFT EFBSSBORVF M TJTUFNB *4( FTU䜫 BDUJWBEP TJFNQSF RVFFMNPUPSFTU䜳FONBSDIB /05 $VBOEPFMTJTUFNB*4(BSSBODBBVUPa N䜫UJDBNFOUFFMNPUPS BMHVOPTJOEJa DBEPSFT EF BEWFSUFODJB #4 4$ 4$ 0'' 14 P GSFOP EF FTUBDJPOBa NJFOUP QVFEFOFODFOEFSTFEVSBOUF BMHVOPTTFHVOEPT 4JFTUPPDVSSF MBDBVTBFTVOWPMUBKF CBKPFOMBCBUFS䜷B/PTJHOJGJDBRVFFM TJTUFNBUFOHBVOBBWFS䜷B 1BSBEBBVUPN䜫UJDB 1BSBEFUFOFSFMNPUPSFOFMNPEP EFQBSBEBBMSBMFOU䜷 5SBOTFKFNBOVBM MSFEVDJSMBWFMPDJEBEEFMWFI䜷DVMPB NFOPTEFLNI $BNCJF B MB QPTJDJ䜽O / QVOUP NVFSUP 4VFMUFFMQFEBMEFMFNCSBHVF 5SBOTFKFBVUPN䜫UJDP MSFEVDJSMBWFMPDJEBEEFMWFI䜷DVMPB NFOPTEFLNI 1JTBSFMQFEBMEFGSFOP MNPUPSBSSBODBS䜫ZTFBQBHBS䜫FMJOEJa DBEPS WFSEF 650 4501 FO FM UBa CMFSPEFJOTUSVNFOUPT4JFMWFI䜷DVMPFTa U䜫FRVJQBEPDPOVOUBCMFSPEFTVQFSWJa TJ䜽O FMBWJTPTFJMVNJOBS䜫FOMBQBOUBMMB -$% $POEVDJSTVWFI䜷DVMP
- 275. / /05 䳜 %FCF BMDBO[BSVOB WFMPDJEBE EF BM NFOPT LNI EFTEF MB 䝄MUJNB QBSBEBEFSBMFOU䜷 䳜 4JTFEFTBCSPDIBFMDJOUVS䜽OEFTFa HVSJEBE P BCSF MB QVFSUB EFM DPOa EVDUPS DBQ䜽EFMNPUPS FOFMNPa EPEFQBSBEBBVUPN䜫UJDP MBMV[FO FMCPU䜽O*4(0''TFJMVNJOBS䜫ZFM TJTUFNB*4(TFEFTBDUJWB4JFMWFa I䜷DVMPFTU䜫FRVJQBEPDPOVOUBCMFa SPEFTVQFSWJTJ䜽O FMBWJTPTFJMVNJa OBS䜫FOMBQBOUBMMB-$%(JSFFMJOa UFSSVQUPS EF FODFOEJEP B MB QPTJa DJ䜽O4535QBSBBSSBODBSFMNPUPS NBOVBMNFOUF SSBORVFBVUPN䜫UJDP 1BSBSFJOJDJBSFMNPUPSFOFMNPEP EFQBSBEBBMSBMFOU䜷 䳜 1JTFFMQFEBMEFMFNCSBHVFDVBOEPMB QBMBODB EF DBNCJPT FTU䜳 FO MB QPTJa DJ䜽O/ QVOUPNVFSUP USBOTFKFNBa OVBM 䳜 1JTFFMQFEBMEFMGSFOPQBSBFMBSSBOa RVF BVUPN䜫UJDP 5SBOTFKF BVUPN䜫UJa DP MNPUPSBSSBODBS䜫ZTFBQBHBS䜫FMJOEJa DBEPS6504501 QBSBEBBVUPN䜫UJDB WFSEFFOFMUBCMFSPEFJOTUSVNFOa UPT4JFMWFI䜷DVMPFTU䜫FRVJQBEPDPOVO UBCMFSPEFTVQFSWJTJ䜽O FMBWJTPTFJMVNJa OBS䜫FOMBQBOUBMMB-$% MNPUPSUBNCJ䜳OTFWPMWFS䜫B BSSBODBSBVUPN䜫UJDBNFOUFTJO OJOHVOBBDDJ䜽OQPSQBSUFEFM DPOEVDUPSTJTVDFEFDVBMRVJFSBEF MBTTJHVJFOUFTTJUVBDJPOFT -B WFMPDJEBE EFM WFOUJMBEPS EFM TJTUFa NB EF DPOUSPM NBOVBM EFM DMJNBUJ[Ba EPSTFFTUBCMFDFQPSFODJNBEFMB䛴 QPTJDJ䜽ODVBOEPFMBJSFBDPOEJDJPOBEP FTU䜫BDUJWBEP -B WFMPDJEBE EFM WFOUJMBEPS EFM TJTUFa NBEFDPOUSPMBVUPN䜫UJDPEFMDMJNBUJa [BEPS TF FTUBCMFDF QPS FODJNB EF MB 䛴 QPTJDJ䜽O DVBOEP FM BJSF BDPOEJDJPa OBEPFTU䜫BDUJWBEP $POEVDJSTVWFI䜷DVMP
- 276. $VBOEP IB QBTBEPVOB DBOUJEBE EF UJFNQP EFUFSNJOBEB DPO FM TJTUFNB EFDPOUSPMEFMDMJNBUJ[BEPSBDUJWBEP $VBOEPFMEFTFNQB䜻BEPSFTU䜫FODFOa EJEP -B QSFTJ䜽O EF WBD䜷P EF MPT GSFOPT FT CBKB M FTUBEP EF DBSHB EF MB CBUFS䜷B FT CBKP -B WFMPDJEBE EFM WFI䜷DVMP TVQFSB MPT LNI MJOEJDBEPSWFSEF6504501 FOFM UBCMFSP EF JOTUSVNFOUPT QBSQBEFBS䜫 EVSBOUFTFHVOEPT $ $POEJDJ䜽OEFMGVODJPOBNJFOUP EFMTJTUFNB*4( MTJTUFNB*4(GVODJPOBS䜫FOMBT DPOEJDJPOFTTJHVJFOUFT M DJOUVS䜽O EFM DPOEVDUPS OP FTU䜫 BCSPDIBEP -BQVFSUBEFMDPOEVDUPSZFMDBQ䜽FTa U䜫ODFSSBEPT -B QSFTJ䜽O EF WBD䜷P EF MPT GSFOPT FT BEFDVBEB -BCBUFS䜷BFTU䜫TVGJDJFOUFNFOUFDBSa HBEB -BUFNQFSBUVSBFYUFSJPSFTTVQFSJPSB 䛺$ -BUFNQFSBUVSBFYUFSJPSFTJOGFSJPSB 䛺$ -B UFNQFSBUVSB EFM SFGSJHFSBOUF EFM NPUPSFTEFNBTJBEPCBKB /05 䳜 4JFMTJTUFNB*4(OPDVNQMFDPOMBT DPOEJDJPOFTEFGVODJPOBNJFOUP TF EFTBDUJWB 4F JMVNJOBS䜫 FM UFTUJHP EFMCPU䜽O*4(0'' $POUJO䝄B $POUJO䝄B 䳜 4JFMUFTUJHPBQBSFDFDPOUJOVBNFOa UF DPNQSVFCF MBT DPOEJDJPOFT EF GVODJPOBNJFOUP %FTBDUJWBDJ䜽OEFMTJTUFNB*4( 䳜 4J EFTFB EFTBDUJWBS FM TJTUFNB *4( QVMTFFMCPU䜽O*4(0''4FJMVNJOBS䜫FM UFTUJHPEFMCPU䜽O*4(0'' 䳜 4JQVMTBEFOVFWPFMCPU䜽O*4(0'' FM TJTUFNBTFBDUJWBS䜫ZFMUFTUJHPFOFM CPU䜽O*4(0''TFBQBHBS䜫 $POEVDJSTVWFI䜷DVMP
- 277. WFS䜷BEFMTJTUFNB*4( MTJTUFNBOPGVODJPOBDVBOEP 4FQSPEVDFVOFSSPSDPOMPTTFOTPSFT SFMBDJPOBEPTDPOFM*4(PEFTJTUFNB MJOEJDBEPSBNBSJMMP6504501 FO FMUBCMFSPEFJOTUSVNFOUPTQFSNBOFDFa S䜫FODFOEJEPEFTQV䜳TEFQBSQBEFBSEVa SBOUFTFHVOEPTZMBMV[EFMCPU䜽O*4( 0''TFJMVNJOBS䜫 /05 䳜4JFMUFTUJHPEFMCPU䜽O*4(0''OP TFBQBHBBMQVMTBSEFOVFWPFMCPa U䜽O*4(0''PTJFMTJTUFNB*4(OP GVODJPOB DPSSFDUBNFOUF EF GPSNB DPOUJOVB MMFWFFMWFI䜷DVMPBVOUBa MMFSQSPGFTJPOBMMPBOUFTQPTJCMFQBa SBRVFMPJOTQFDDJPOFO ,JB SFDPNJFOEB QPOFSTF FO DPOa UBDUP DPO VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 4J FM UFTUJHP EFM CPU䜽O *4( 0'' TF FODJFOEF QVFEF BQBHBSTF USBT DPOEVDJSFMWFI䜷DVMPBBQSPYJNBEBa NFOUFLNIEVSBOUFVON䜫YJa NP EF EPT IPSBT Z FTUBCMFDFS FM NBOEPEFDPOUSPMEFWFMPDJEBEEFM WFOUJMBEPSQPSEFCBKPEFMB䛴QPa TJDJ䜽O 4J FM UFTUJHP EFM CPU䜽O *4( 0''DPOUJO䝄BJMVNJOBEPBQFTBSEFM QSPDFEJNJFOUP MMFWF FM WFI䜷DVMP B VOUBMMFSQSPGFTJPOBMMPBOUFTQPTJa CMF QBSB RVF MP JOTQFDDJPOFO ,JB SFDPNJFOEB QPOFSTF FO DPOUBDUP DPO VO DFOUSP EF TFSWJDJP EJTUSJa CVJEPS,JBBVUPSJ[BEP /05 4JRVJFSFVTBSMBGVODJ䜽O*4( TFEFCF DBMJCSBS FM TFOTPS EF MB CBUFS䜷B EVa SBOUFBQSPYJNBEBNFOUFIPSBTDPO FM FODFOEJEP EFTDPOFDUBEP B DPOUJa OVBDJ䜽OFODFOEFSZBQBHBSFMNPUPS PWFDFT %735/$* 4JFMNPUPSTFFODVFOUSBFOFMNPEP EFQBSBEBBMSBMFOU䜷 FTQPTJCMFSFJOJa DJBS FM NPUPS TJO RVF FM DPOEVDUPS SFBMJDFOJOHVOBBDDJ䜽O OUFTEFTBMJSEFMWFI䜷DVMPPMMFWBSB DBCP BMHVOB BDDJ䜽O FO MB [POB EFM DPNQBSUJNJFOUP EFM NPUPS EFUFOHB FMNPUPSHJSBOEPMBMMBWFBMBQPTJDJ䜽O -0$, 0'' PSFUJS䜫OEPMB $POEVDJSTVWFI䜷DVMP
- 278. 5 53/4.*4*䜝/./6- 4*45䜋26*1%0 0QFSBDJ䜽OEFMBUSBOTNJTJ䜽O NBOVBM MUSBOTFKFNBOVBMUJFOFNBSDIBTEF BWBODF M QBUS䜽OEF DBNCJP EF NBSDIBT FTU䜫 HSBCBEP FO MB QBMBODB EF DBNCJP -B USBOTNJTJ䜽O FTU䜫 DPNQMFUBNFOUF TJOa DSPOJ[BEBFOUPEBTMBTNBSDIBTBEFMBOa UF QPS MP RVF QVFEF DBNCJBSTF G䜫DJMa NFOUFBNBSDIBTTVQFSJPSFTPJOGFSJPa SFT 1JTF FM FNCSBHVF EFM UPEP NJFOUSBT DBNCJBZMVFHPTV䜳MUFMPEFTQBDJP 4JFMWFI䜷DVMPFTU䜫FRVJQBEPDPOVOJOUFa SSVQUPS EF CMPRVFP EF FODFOEJEP FM NPUPSOPTFFODFOEFS䜫TJTFBSSBODBTJO QJTBSFMFNCSBHVF TJFTU䜫FRVJQBEP -BQBMBODBEFDBNCJPTTFEFCFWPMWFSB DPMPDBSFOMBQPTJDJ䜽OEFQVOUPNVFSUP BOUFT EF EFTQMB[BSMB B 3 NBSDIB BUS䜫T TFH䝄SFTFEFRVFFMWFI䜷DVMPFTU䜫DPNa QMFUBNFOUF QBSBEP BOUFT EF QPOFS MB NBSDIBBUS䜫T /VODBBDDJPOFFMNPUPSDPOFMUBD䜽NFa USP SQN FOMB[POBSPKB 5/$*䜝/ 䳜 $VBOEPSFEV[DBMBNBSDIBEF䛴B 䛴 UFOHB DVJEBEP EF OP FNQVKBS JOWPMVOUBSJBNFOUF MB QBMBODB EF DBNCJPTBVOMBEPEFNBOFSBRVF FOHSBOF MB TFHVOEB NBSDIB TUB SFEVDDJ䜽OEFNBSDIBTES䜫TUJDBQPa ES䜷BIBDFSRVFMBWFMPDJEBEEFMNPa UPSTFJODSFNFOUBSBIBTUBFMQVOUP EF RVF FM UBD䜽NFUSP FOUSBTF FO [POBSPKBTUBSFWPMVDJ䜽OFYDFTJWB EFM NPUPS Z EFM USBOTFKF QPES䜷B DBVTBSEB䜻PTFOFMNPUPS $POUJO䝄B $POUJO䝄B 䳜 /PSFEV[DBN䜫TEFNBSDIBTPOP SFEV[DBEFNBSDIBDVBOEPFMNPa UPSFTU䜫GVODJPOBOEPBHSBOWFMPDJa EBE SQNPTVQFSJPS 6OBSFa EVDDJ䜽OEF NBSDIB DPNPFTUB QPa ES䜷B DBVTBS EB䜻PT FO FM NPUPS FM FNCSBHVFZMBUSBOTNJTJ䜽O 䳜 O DPOEJDJPOFT BNCJFOUBMFT GS䜷BT FM DBNCJPQVFEFTFSEJG䜷DJMIBTUBRVFFM MVCSJDBOUFEFMBUSBOTNJTJ䜽OTFDBMJFOa UFTUPFTOPSNBMZOPEB䜻BMBUSBOTa NJTJ䜽O 䳜 4J FTU䜫 DPNQMFUBNFOUF QBSBEP Z FT EJG䜷DJM DBNCJBS B 䛴 P B 3 NBSDIB BUS䜫T EFKFMBQBMBODBEFDBNCJPTFO MBQPTJDJ䜽O/ QVOUPNVFSUP ZMJCFSF FM FNCSBHVF 1JTF FM FNCSBHVF EF OVFWP Z DBNCJF B 䛴 P 3 NBSDIB BUS䜫T $POEVDJSTVWFI䜷DVMP
- 279. 5/$*䜝/ 䳜 1BSBFWJUBSFMEFTHBTUFPEB䜻PQSFa NBUVSPEFMFNCSBHVF OPDPOEV[a DBNBOUFOJFOEPFMQJFFOFTUFQFa EBM/PVTFFMFNCSBHVFQBSBNBOa UFOFSFM WFI䜷DVMP QBSBEP FO VOB DVFTUBBTDFOEFOUFNJFOUSBTFTQFa SBQPSVOTFN䜫GPSPFOSPKP 䳜 /P VUJMJDF MB QBMBODB EF DBNCJPT DPNPBQPZPQBSBMBNBOPEVSBOUF MB DPOEVDDJ䜽O ZB RVF QPES䜷B PDBa TJPOBSTF VO EFTHBTUF QSFNBUVSP EF MBT IPSRVJMMBT EF DBNCJP EF MB USBOTNJTJ䜽O 䳜 1BSB FWJUBS QPTJCMFT EB䜻PT FO FM TJTUFNB EFM FNCSBHVF OP BSSBOa RVF DPO MB 䛴 TFHVOEB NBSDIB FYDFQUPBMBSSBODBSFOVOBDBM[BEB EFTMJ[BOUF %735/$* 䳜 OUFTEFBCBOEPOBSFMBTJFOUPEFM DPOEVDUPS BTFH䝄SFTF EF DPMPDBS TJFNQSF FM GSFOP EF FTUBDJPOBa NJFOUPZBQBHBSFMNPUPS%FTQV䜳T BTFH䝄SFTFEFDPMPDBSMB䛴NBSDIB DVBOEPFMWFI䜷DVMPFTU䜫FTUBDJPOBa EPFODVFTUBBTDFOEFOUFPTVQFSa GJDJF MMBOB Z EF DPMPDBS 3 NBSDIB BUS䜫T FO DVFTUB EFTDFOEJFOUF 4J OP TF SFBMJ[BO FTUBT PQFSBDJPOFT FO FM PSEFO FTQFDJGJDBEP QVFEFO QSPEVDJSTF NPWJNJFOUPT JOFTQFSBa EPTPSFQFOUJOPT 䳜 /PBQMJRVFFMGSFOPNPUPS DBNCJP EFVOBNBSDIBBMUBBVOBNBSDIB JOGFSJPS S䜫QJEBNFOUF FO DBM[BEBT EFTMJ[BOUFT MWFI䜷DVMPQPES䜷BQBUJOBSZQSPWPa DBSVOBDDJEFOUF 6TPEFMFNCSBHVF 4FEFCFQJTBSBGPOEPFMFNCSBHVFBOa UFT EF DBNCJBS MB NBSDIB MVFHP TF TVFMUB MFOUBNFOUF T OFDFTBSJP TPMUBS EFMUPEPFMQFEBMEFMFNCSBHVFBOUFTEF DPOEVDJS/PNBOUFOHBFMQJFFOFMBDFa MFSBEPSEVSBOUFMBDPOEVDDJ䜽O1SPWPDBa S䜷B VO EFTHBTUF JOOFDFTBSJP /P QJTF QBSDJBMNFOUFFMFNCSBHVFQBSBNBOUFa OFS FM DPDIF FO VOB QFOEJFOUF 1SPWPa DBS䜷B VO EFTHBTUF JOOFDFTBSJP NQMFF FMGSFOPEFQJFPFMEFFTUBDJPOBNJFOUP QBSB NBOUFOFS FM DPDIF FO VOB QFOa EJFOUF/PQJTFFMQFEBMEFMFNCSBHVFOJ DPOTUBOUFOJS䜫QJEBNFOUF 5/$*䜝/ M BDDJPOBS FM QFEBM EFM FNCSBHVF Q䜷TFMPIBTUBFMGPOEP4JOPTFQJTBFM QFEBM EFM FNCSBHVF IBTUB FM GPOEP FMFNCSBHVFQPES䜷BEB䜻BSTFPQPES䜷B QSPEVDJSSVJEP $POEVDJSTVWFI䜷DVMP
- 280. 3 3FEVDDJ䜽OEFMBNBSDIB $VBOEP UFOHB RVFSFEVDJS MB WFMPDJEBE QPSUS䜫GJDPEFOTPPBTDFOEFSVOBQFOa EJFOUF NVZ QSPOVODJBEB SFEV[DB MB NBSDIBBOUFTEFRVFFMNPUPSDPNJFOa DF B UFOFS EJGJDVMUBEFT M SFEVDJS MB NBSDIB TF EJTNJOVZF MB QPTJCJMJEBE EF RVFFMNPUPSTFDBMFZFYJHFVOBBDFMFa SBDJ䜽ONFOPSDVBOEPTFOFDFTJUFWPMWFS BJODSFNFOUBSMBWFMPDJEBE$VBOEPEFTa DJFOEB QFOEJFOUFT VOB NBSDIB DPSUB BZVEBBNBOUFOFSVOBWFMPDJEBETFHVSB ZQSPMPOHBSMBWJEB䝄UJMEFMPTGSFOPT #VFOBTQS䜫DUJDBTEFDPOEVDDJ䜽O 䳜 /PQPOHBFMWFI䜷DVMPFOQVOUPNVFSUP QBSBCBKBSVOBQFOEJFOUFTUPFTFYa USFNBEBNFOUF QFMJHSPTP 4JFNQSF Q䜽OHBMFVOBNBSDIBBMWFI䜷DVMP 䳜 /P TF BQPZF FO FM QFEBM EFM GSFOP TUP QVFEF QSPWPDBS TPCSFDBMFOUBa NJFOUP Z NBM GVODJPOBNJFOUP EF MPT NJTNPTOMVHBSEFFMMP DVBOEPEFTa DJFOEB VOB QFOEJFOUF DBNCJF B VOB NBSDIBDPSUBMIBDFSMP FMGSFOPSFa HFOFSBUJWPBZVEBS䜫BSBMFOUJ[BSFMWFa I䜷DVMP 䳜 3FEV[DB MB WFMPDJEBE BOUFT EF DBNa CJBSBVOBNBSDIBDPSUBTUPFWJUBS䜫 MBTPCSFSSFWPMVDJ䜽OEFMNPUPS RVFQPa ES䜷BEB䜻BSMP 䳜 3FEV[DB MB WFMPDJEBE DVBOEP OPUF WJFOUPTDSV[BEPTTUBBDDJ䜽OMFQSPa QPSDJPOBS䜫NFKPSDPOUSPMEFMWFI䜷DVMP 䳜 TFH䝄SFTFRVFFMDPDIFFTU䜳DPNQMFa UBNFOUF EFUFOJEP BOUFT EF TFMFDDJPa OBSMBNBSDIBBUS䜫T4JOP FMUSBOTFKF TFQVFEFEB䜻BS 䳜 YUSFNF MBT QSFDBVDJPOFT DVBOEP DPOEV[DBFOTVQFSGJDJFTSFTCBMBEJ[BT 5FOHBFTQFDJBMDVJEBEPDVBOEPGSFOF BDFMFSFPDBNCJFMBTNBSDIBTOVOB TVQFSGJDJF SFTCBMBEJ[B VO DBNCJP CSVTDPFOMBWFMPDJEBEEFMWFI䜷DVMPQPa ES䜷B IBDFS RVF MBT SVFEBT QJFSEBO MB USBDDJ䜽O Z RVF FM WFI䜷DVMP QJFSEB FM DPOUSPM %735/$* 䳜 䛫CS䜽DIFTFTJFNQSFFMDJOUVS䜽OO DBTP EF DPMJTJ䜽O VOB QFSTPOB TJO DJOUVS䜽OUJFOFN䜫TSJFTHPEFTVGSJS VOB MFTJ䜽O HSBWF P MB NVFSUF RVF VOB QFSTPOB RVF T䜷 MMFWF FM DJOUVa S䜽O 䳜 WJUF DPOEVDJS B HSBO WFMPDJEBE BM HJSBSPBMBDFSDBSTFBVOBDVSWB $POUJO䝄B $POUJO䝄B 䳜 /P SFBMJDF NPWJNJFOUPT S䜫QJEPT DPO FM WPMBOUF DPNP DBNCJPT EF DBSSJMCSVTDPTPHJSPTCSVTDPTS䜫QJa EPT 䳜 M SJFTHP EF WVFMDP BVNFOUB NVa DIPTJQJFSEFFMDPOUSPMEFMWFI䜷DVMP BHSBOWFMPDJEBE 䳜 -BQ䜳SEJEBTEFDPOUSPMTFQSPEVDFO OPSNBMNFOUF DVBOEP EPT SVFEBT TF TBMFO EF MB DBSSFUFSB Z FM DPOa EVDUPSHJSBQBSBWPMWFSBFOUSBSFO MBDBSSFUFSB 䳜 ODBTPEFRVFTVWFI䜷DVMPTFTBMHB EFMBDBM[BEB OPHJSFCSVTDBNFOUF #BKFMBWFMPDJEBEBOUFTEFWPMWFSBM DBSSJM 䳜 /VODBFYDFEBMPTM䜷NJUFTEFWFMPDJa EBEFTUBCMFDJEPT $POEVDJSTVWFI䜷DVMP
- 281. 5 53/4.*4*䜝/650.䜋5*$ 4*45䜋26*1%0 'VODJPOBNJFOUPEFMB USBOTNJTJ䜽OBVUPN䜫UJDB M DBNCJPBVUPN䜫UJDP UJFOF NBSDIBT IBDJB EFMBOUF Z VOB NBSDIB BUS䜫T -BT NBSDIBT JOEJWJEVBMFT TF TFMFDDJPOBO EF GPSNB BVUPN䜫UJDB EFQFOEJFOEP EF MB QPTJDJ䜽OEFMBQBMBODBEFDBNCJP /05 -PTQSJNFSPTDBNCJPTEFVOWFI䜷DVMP OVFWP TJMBCBUFS䜷BTFIBEFTDPOFDa UBEP QVFEFOTFSBMHPCSVTDPTTUF FTVOFTUBEPOPSNBM ZMBTFDVFODJB EFDBNCJPTTFBKVTUBS䜫USBTSFBMJ[BS MPTDBNCJPTWBSJBTWFDFTNFEJBOUFFM 5$. .䜽EVMPEFDPOUSPMEFMBUSBOTa NJTJ䜽O P FM 1$. .PEP EF DPOUSPM EFMUSFOEFQPUFODJB 1BSB VOB PQFSBDJ䜽O N䜫T TVBWF QJTF FM QFEBM EFM GSFOP DVBOEP DBNCJF EF / QVOUPNVFSUP BVOBNBSDIBIBDJBEFa MBOUFPNBSDIBBUS䜫T $POEVDJSTVWFI䜷DVMP
- 282. %735/$* 5SBOTFKFBVUPN䜫UJDP 䳜 $PNQSVFCFTJFNQSF TJ DFSDB EFM WFI䜷DVMPIBZHFOUF TPCSFUPEPOJa 䜻PT BOUFT EF DBNCJBS MB QBMBODB EF DBNCJPT B % DPOEVDDJ䜽O P 3 NBSDIBBUS䜫T 䳜 OUFTEFBCBOEPOBSFMBTJFOUPEFM DPOEVDUPS BTFH䝄SFTF TJFNQSF EF RVF MB QBMBODB EF DBNCJP FTU䜫 FO MB QPTJDJ䜽O 1 FTUBDJPOBNJFOUP Z B DPOUJOVBDJ䜽O BDDJPOF DPNQMFUBa NFOUFFMGSFOPEFFTUBDJPOBNJFOUP Z BQBHVF FM NPUPS 4J OP TF SFBMJa [BOFTUBTPQFSBDJPOFTFOFMPSEFO FTQFDJGJDBEP QVFEFO QSPEVDJSTF NPWJNJFOUPTJOFTQFSBEPTPSFQFOa UJOPT 䳜 /PBQMJRVFFMGSFOPNPUPS DBNCJP EFVOBNBSDIBBMUBBVOBNBSDIB JOGFSJPS S䜫QJEBNFOUF FO DBM[BEBT EFTMJ[BOUFTMWFI䜷DVMPQPES䜷BQBUJa OBSZQSPWPDBSVOBDDJEFOUF 5/$*䜝/ 䳜 1BSB FWJUBS EB䜻PT FO MB USBOTNJa TJ䜽O OP BDFMFSF FM NPUPS FO 3 NBSDIBBUS䜫T PFODVBMRVJFSNBSa DIBIBDJBEFMBOUFTJQJTBMPTGSFOPT 䳜 $VBOEP TF EFUFOHB FO VOB QFOa EJFOUF OP NBOUFOHB FM WFI䜷DVMP QBSBEP DPO MB QPUFODJB EFM NPUPS 6UJMJDF FM GSFOP EF TFSWJDJP P FM EF FTUBDJPOBNJFOUP 䳜 /PDBNCJFEF/ QVOUPNVFSUP P 1 FTUBDJPOBNJFOUP B % DPOEVDa DJ䜽O P3 NBSDIBTBUS䜫T TJFMNPa UPSFTU䜫QPSFODJNBEFMBWFMPDJEBE EFSBMFOU䜷 1PTJDJPOFTEFDBNCJP -PTJOEJDBEPSFTFOFMUBCMFSPEFJOTUSVa NFOUPTJOEJDBOMBQPTJDJ䜽OEFMBQBMBODB EF DBNCJPT DVBOEP FM JOUFSSVQUPS EF FODFOEJEPFTU䜫FOMBQPTJDJ䜽O0/ BDUJa WBEP 1 FTUBDJPOBNJFOUP 1BSF FM WFI䜷DVMP DPNQMFUBNFOUF BOUFT EFDBNCJBSB1 FTUBDJPOBNJFOUP TUB QPTJDJ䜽OCMPRVFBMBUSBOTNJTJ䜽OFJNQJa EFRVFMBTSVFEBTDPOUSBDDJ䜽OHJSFO %735/$* 䳜 $BNCJBS B 1 FTUBDJPOBNJFOUP NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NBSa DIBQVFEFCMPRVFBSMBTSVFEBTNPa USJDFT Z QSPWPDBS MB Q䜳SEJEB EFM DPOUSPMEFMWFI䜷DVMP 䳜 /PVUJMJDFMBQPTJDJ䜽O1FOMVHBSEFM GSFOP EF FTUBDJPOBNJFOUP TFH䝄a SFTFTJFNQSFEFRVFMBQBMBODBEF DBNCJPT FTU䜫 FOHSBOBEB FO QPTJa DJ䜽O 1 Z FM GSFOP EF FTUBDJPOBa NJFOUPUPUBMNFOUFBDDJPOBEP 䳜 /VODB EFKF B OJ䜻PT TJO BUFODJ䜽O EFOUSPEFMWFI䜷DVMP 5/$*䜝/ -B USBOTNJTJ䜽O QVFEF EB䜻BSTF TJ DBNCJB B 1 NJFOUSBT FM WFI䜷DVMP UPa EBW䜷BFTU䜫FONPWJNJFOUP 3 NBSDIBBUS䜫T 6TFFTUBQPTJDJ䜽OQBSBDPOEVDJSFMWFI䜷a DVMPIBDJBBUS䜫T $POEVDJSTVWFI䜷DVMP
- 283. 5/$*䜝/ %FUFOHBQPSDPNQMFUPFMWFI䜷DVMPBOa UFTEFFOHSBOBSPTBDBSMBNBSDIB3 NBSDIB BUS䜫T EF MP DPOUSBSJP QPa ES䜷B EB䜻BS MB USBOTNJTJ䜽O TJ MP IBDF DPO FM WFI䜷DVMP FO NPWJNJFOUP FYa DFQUPFODBTPEF䳖#BMBODFBSFMWFI䜷a DVMP䳗FOMBQ䜫HJOB / QVOUPNVFSUP /JMBTSVFEBTOJMBUSBOTNJTJ䜽OFTU䜫OBDa UJWBTMWFI䜷DVMPTFNPWFS䜫MJCSFNFOUF JODMVTPFOMBQFOEJFOUFN䜫TQFRVF䜻BTJ FMGSFOPEFFTUBDJPOBNJFOUPOPFTU䜫BDa DJPOBEPPTJOPTFQJTBOMPTGSFOPT %735/$* /PDPOEV[DBDPOMBQBMBODBEFDBNa CJPT FO / QVOUP NVFSUP M GSFOP NPUPSOPGVODJPOBS䜫ZQPES䜷BQSPWPa DBSVOBDDJEFOUF TUBDJPOBNJFOUPFO/ QVOUPNVFSUP 4JEFTFBRVFFMWFI䜷DVMPTFEFTQMBDFBM FNQVKBSMP TJHBMPTQBTPTRVFTFJOEJDBO BDPOUJOVBDJ䜽OBMFTUBDJPOBS %FTQV䜳T EF FTUBDJPOBS FM WFI䜷DVMP QJTFFMQFEBMEFMGSFOPZEFTQMBDFMB QBMBODBEFDBNCJPTB1DPOFMCPa U䜽O EF FODFOEJEP FO 0/ P NJFOa USBTFMNPUPSFTU䜫FONBSDIB 4JFMGSFOPEFFTUBDJPOBNJFOUPFTU䜫 BDDJPOBEP EFTCMPRV䜳FMP .JFOUSBTQJTBFMQFEBMEFMGSFOP HJa SFFMCPU䜽OEFFODFOEJEPB0'' O MPT WFI䜷DVMPT FRVJQBEPT DPO MMBWF JOUFMJHFOUF FM JOUFSSVQUPS EFFODFOEJEPTFQVFEFEFTQMB[BS B0''TPMPDVBOEPMBQBMBODBEF DBNCJPTFTU䜫FO1 %FTQMBDF MB QBMBODB EF DBNCJPT B / QVOUPNVFSUP NJFOUSBTQJTBFM QFEBM EFM GSFOP DPOUJOVBDJ䜽O FM WFI䜷DVMP TF EFTQMB[BS䜫 DVBOEP TF FKFS[BVOBGVFS[BFYUFSOBTPCSF䜳M 5/$*䜝/ 䳜 YDFQUP DVBOEP FTUBDJPOF FM WFI䜷a DVMPFOQVOUPNVFSUP QPSNPUJWPT EF TFHVSJEBE BQBSRVF TJFNQSF FM WFI䜷DVMPFO1 FTUBDJPOBNJFOUP Z BDDJPOFFMGSFOPEFFTUBDJPOBNJFOa UP $POUJO䝄B $POUJO䝄B 䳜 OUFT EF BQBSDBS FO / QVOUP NVFSUP BTFH䝄SFTF QSJNFSP EF RVFFMTVFMPEPOEFWBBFTUBDJPOBS FTU䜳OJWFMBEPZTFBMMBOP/PBQBSa RVFFO/FOQFOEJFOUFTOJDVFTa UBT 4JFMWFI䜷DVMPTFFTUBDJPOBZTFEFKB FO/ QPES䜷BEFTQMB[BSTFZDBVTBS EB䜻PTZMFTJPOFTHSBWFT % DPOEVDDJ䜽O TUB FT MB QPTJDJ䜽O EF DPOEVDDJ䜽O OPSa NBMIBDJBEFMBOUF-BUSBOTNJTJ䜽ODBNa CJBS䜫 BVUPN䜫UJDBNFOUF B USBW䜳T EF MB TFDVFODJB EF 䛴 NBSDIB BIPSSBOEP DPNCVTUJCMFZFOFSH䜷B 1BSBDPOTFHVJSNBZPSQPUFODJBBMBEFa MBOUBSPUSPWFI䜷DVMPPBMTVCJSVOBDVFTa UB QJTF DPNQMFUBNFOUF FM BDFMFSBEPS N䜫TEFM IBTUBRVFTFBDDJPOFFM NFDBOJTNPEFSFEVDDJ䜽OEFNBSDIB TJ FTU䜫FRVJQBEP DPOVODMJDOFTUFNPa NFOUP FMUSBOTFKFTFSFEVDFBVUPN䜫UJa DBNFOUFBMBTJHVJFOUFNBSDIBN䜫TCBa KB $POEVDJSTVWFI䜷DVMP
- 284. / /05 1BSFFMWFI䜷DVMPDPNQMFUBNFOUFBOa UFTEFDBNCJBSB% DPOEVDDJ䜽O UFSDFSBNBSDIB 4F VTB QBSB BSSBTUSBS VO SFNPMRVF BM TVCJSVOBDVFTUBPQBSBVUJMJ[BSFMGSFOP NPUPSBMCBKBSVOBDVFTUB DBNCJB BVUPN䜫UJDBNFOUF FOUSF MB 䛴 䛴 Z 䛴 NBSDIB TUP TJHOJGJDB RVF OPTFMMFWBBDBCPVOBVNFOUPEFNBSa DIBBMB䛴NBSDIB/PPCTUBOUF FMBVa NFOUP B MB 䛴 NBSDIB TF MMFWB B DBCP DVBOEPMBWFMPDJEBEEFMWFI䜷DVMPTVQFSB VOEFUFSNJOBEPWBMPSQBSBFWJUBSRVFFM NPUPS TF TPCSFSSFWPMVDJPOF %FTQMBDF NBOVBMNFOUF FM TFMFDUPS B MB QPTJDJ䜽O %DVBOEPWVFMWBBMFTUBEPEFDPOEVDa DJ䜽OOPSNBM TFHVOEBNBSDIB 4F VTB QBSB DPOEVDJS FO VOB DBM[BEB EFTMJ[BOUF FOTVCJEBEFQFOEJFOUFPBM VUJMJ[BS FM GSFOP NPUPS BM CBKBS VOB DVFTUB DBNCJB BVUPN䜫UJDBNFOUF FOUSFMBQSJNFSBZMBTFHVOEBNBSDIB TUPTJHOJGJDBRVFOPTFMMFWBBDBCPVO BVNFOUPEFNBSDIBBMB䛴NBSDIB/P PCTUBOUF FMBVNFOUPBMB䛴NBSDIBTF MMFWBBDBCPDVBOEPMBWFMPDJEBEEFMWFa I䜷DVMPTVQFSBVOWBMPSEFUFSNJOBEPQBa SBFWJUBSRVFFMNPUPSTFTPCSFSSFWPMVa DJPOF %FTQMBDF NBOVBMNFOUF FM TFMFDa UPSBMBQPTJDJ䜽O%QBSBWPMWFSBMFTUBa EPEFDPOEVDDJ䜽OOPSNBM QSJNFSBNBSDIB 4FVTBQBSBDPOEVDJSQPSVOBQFOEJFOUF NVZ JODMJOBEB P QBSB VUJMJ[BS FM GSFOP NPUPS BM EFTDFOEFS QPS QFOEJFOUFT NVZ QSPOVODJBEBT M SFEVDJS EF NBSa DIB B MB USBOTNJTJ䜽O QFSNBOFDFS䜫 EFGPSNBUFNQPSBMFOMBTFHVOEBNBSa DIBIBTUBRVFFMWFI䜷DVMPIBZBSFEVDJEP TVGJDJFOUF MB WFMPDJEBE QBSB FOHSBOBS FTUB NBSDIB NFOPS /P TVQFSF MPT LNIFOMBNBSDIBN䜫TCBKB DBNCJBTPMPBMB䛴NBSDIB/PPCTa UBOUF FM BVNFOUP B MB 䛴 NBSDIB TF MMFWB B DBCP DVBOEP FM WFI䜷DVMP TVQFSB VOBWFMPDJEBEEFUFSNJOBEBZ BNFEJEB RVFMBWFMPDJEBETFJODSFNFOUB FMUSBOa TFKF BVNFOUBS䜫 B MB 䛴 NBSDIB QBSB FWJUBS RVF TF TPCSFSSFWPMVDJPOF FM NPa UPS /05 䳜 1BSB VOB PQFSBDJ䜽O N䜫T TVBWF Z TFHVSB QJTF FM QFEBM EFM GSFOP DVBOEP DBNCJF EF MB QPTJDJ䜽O / QVOUPNVFSUP PEF1 FTUBDJPOBa NJFOUP BVOBNBSDIBIBDJBEFMBOa UFPB3 NBSDIBBUS䜫T 䳜 1JTF DPNQMFUBNFOUF FM QFEBM EFM GSFOPQBSBEFTQMB[BSMBQBMBODBEF DBNCJPTEFTEFMBQPTJDJ䜽O1 FTUBa DJPOBNJFOUP BDVBMRVJFSPUSBQPTJa DJ䜽O 䳜 4JFNQSF FT QPTJCMF DBNCJBS EFTEF MBQPTJDJ䜽O3 / % BMBQPTJDJ䜽O1MWFI䜷DVMPTFEFa CF EFUFOFS DPNQMFUBNFOUF QBSB FWJUBSEB䜻PTFOMBUSBOTNJTJ䜽O 5/$*䜝/ 䳜 $BNCJFBMBQPTJDJ䜽O3Z1T䜽MP DVBOEP FM WFI䜷DVMP FTU䜳 DPNQMFUBa NFOUFQBSBEP $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 285. $POUJO䝄B 䳜 /P BDFMFSFFM NPUPS FO NBSDIB BUS䜫TOJFOOJOHVOBEFMBTQPTJDJPa OFT EF DPOEVDDJ䜽O IBDJB EFMBOUF DPOMPTGSFOPTBDDJPOBEPT 䳜 DDJPOFTJFNQSFFMGSFOPEFQJFBM DBNCJBSEFTEF1P/BMBQPTJa DJ䜽O3 % P 䳜 7FSJGJRVF FM OJWFM EFM M䜷RVJEP EF MB USBOTNJTJ䜽O BVUPN䜫UJDB QFSJ䜽EJDBa NFOUFZB䜻BEBM䜷RVJEPTJFTOFDFa TBSJP $POTVMUFFMDBMFOEBSJPEFNBOUFOJa NJFOUPQBSBBWFSJHVBSMBSFDPNFOa EBDJ䜽OBEFDVBEBEFM䜷RVJEP 4JTUFNBEFCMPRVFPEFMDBNCJP TJ FTU䜫FRVJQBEP 1BSBTVTFHVSJEBE MBUSBOTNJTJ䜽OBVUPa N䜫UJDBUJFOFVOTJTUFNBEFCMPRVFPEFM DBNCJPRVFFWJUBDBNCJBSMBEF1 FTUBa DJPOBNJFOUP B 3 NBSDIB BUS䜫T B OP TFSRVFTFQJTFFMQFEBMEFMGSFOP 1BSBDBNCJBSMBUSBOTNJTJ䜽OEF1 FTUBa DJPOBNJFOUP B3 NBSDIBBUS䜫T .BOUFOHBQJTBEPFMQFEBMEFMGSFOP .VFWBMBQBMBODBEFDBNCJPT 4J TF QJTB SFQFUJEBNFOUF FM QFEBM EFM GSFOP Z TF TVFMUB DPO MB QBMBODB EF DBNCJPT FO MB QPTJDJ䜽O 1 FTUBDJPOBa NJFOUP TFFTDVDIBS䜫VODIJSSJEPDFSDB EF MB QBMBODB EF DBNCJPT TUB FT VOB TJUVBDJ䜽OOPSNBM %735/$* 1JTFBGPOEPFMQFEBMEFGSFOPBOUFT EF TBDBS MB NBSDIB 1 FTUBDJPOBa NJFOUP ZNFUFSPUSB QBSBBT䜷FWJUBS FM NPWJNJFOUP JOWPMVOUBSJP EFM WFI䜷a DVMP RVF QPES䜷B MFTJPOBS B QFSTPOBT RVFTFFODVFOUSFODFSDBEFMDPDIF #VFOBTQS䜫DUJDBTEFDPOEVDDJ䜽O 䳜 /VODB NVFWB MB QBMBODB EF DBNCJP EFTEFMBQPTJDJ䜽O1 FTUBDJPOBNJFOUP P / QVOUP NVFSUP B DVBMRVJFS PUSB QPTJDJ䜽OTJFTU䜫QJTBOEPFMBDFMFSBEPS 䳜 /VODBNVFWBMBQBMBODBEFDBNCJPB MBQPTJDJ䜽O1 FTUBDJPOBNJFOUP DPOFM WFI䜷DVMPFONBSDIB 䳜 TFH䝄SFTF EF RVF FM WFI䜷DVMP FTU䜳 DPNQMFUBNFOUF EFUFOJEP BOUFT EF TFMFDDJPOBS 3 NBSDIB BUS䜫T P % DPOEVDDJ䜽O 䳜 /P CBKF VOB QFOEJFOUF FO QVOUP NVFSUP TUP FT FYUSFNBEBNFOUF QFMJHSPTP4JFNQSFQ䜽OHBMFVOBNBSa DIBBMDPDIFDVBOEPTFNVFWB 䳜 /P TF BQPZF FO MPT GSFOPT TUP QVFEFQSPWPDBSTPCSFDBMFOUBNJFOUPZ NBM GVODJPOBNJFOUP EF MPT NJTNPT O MVHBS EF FMMP DVBOEP EFTDJFOEB VOBQFOEJFOUF EJTNJOVZBMBWFMPDJEBE ZDBNCJFBVOBNBSDIBDPSUBMIBa DFSMP FM GSFOP EFM NPUPS BZVEBS䜫 B SBMFOUJ[BSFMDPDIF 䳜 3FEV[DB MB WFMPDJEBE BOUFT EF DBNa CJBS B VOB NBSDIB DPSUB %F MP DPOa USBSJP OP TFS䜫 QPTJCMF FOHSBOBS VOB NBSDIBNFOPS 䳜 6UJMJDFTJFNQSFFMGSFOPEFFTUBDJPOBa NJFOUP -B QPTJDJ䜽O FO 1 FTUBDJPOBa NJFOUP EF MB QBMBODB EF DPDIFT OP JNQJEFRVFFMDPDIFTFNVFWB 䳜 YUSFNF MBT QSFDBVDJPOFT DVBOEP DPOEV[DBFOTVQFSGJDJFTSFTCBMBEJ[BT 5FOHBFTQFDJBMDVJEBEPDVBOEPGSFOF BDFMFSFPDBNCJFMBTNBSDIBTOVOB TVQFSGJDJF SFTCBMBEJ[B VO DBNCJP CSVTDPFOMBWFMPDJEBEEFMWFI䜷DVMPQPa ES䜷B IBDFS RVF MBT SVFEBT QJFSEBO MB USBDDJ䜽O Z RVF FM WFI䜷DVMP QJFSEB FM DPOUSPM $POEVDJSTVWFI䜷DVMP
- 286. 䳜 M SFOEJNJFOUPZ FM DPOTVNP 䜽QUJNP EFM WFI䜷DVMP TF DPOTJHVF QJTBOEP Z TPMUBOEP TVBWFNFOUF FM QFEBM EFM BDFMFSBEPS %735/$* 䳜 䛫CS䜽DIFTFTJFNQSFFMDJOUVS䜽OO DBTP EF DPMJTJ䜽O VOB QFSTPOB TJO DJOUVS䜽OUJFOFN䜫TSJFTHPEFTVGSJS VOB MFTJ䜽O HSBWF P MB NVFSUF RVF VOB QFSTPOB RVF T䜷 MMFWF FM DJOUVa S䜽O 䳜 WJUF DPOEVDJS B HSBO WFMPDJEBE BM HJSBSPBMBDFSDBSTFBVOBDVSWB 䳜 /P SFBMJDF NPWJNJFOUPT S䜫QJEPT DPO FM WPMBOUF DPNP DBNCJPT EF DBSSJMCSVTDPTPHJSPTCSVTDPTS䜫QJa EPT 䳜 M SJFTHP EF WVFMDP BVNFOUB NVa DIPTJQJFSEFFMDPOUSPMEFMWFI䜷DVMP BHSBOWFMPDJEBE 䳜 -BQ䜳SEJEBTEFDPOUSPMTFQSPEVDFO OPSNBMNFOUF DVBOEP EPT SVFEBT TF TBMFO EF MB DBSSFUFSB Z FM DPOa EVDUPSHJSBQBSBWPMWFSBFOUSBSFO MBDBSSFUFSB $POUJO䝄B $POUJO䝄B 䳜 ODBTPEFRVFTVWFI䜷DVMPTFTBMHB EFMBDBM[BEB OPHJSFCSVTDBNFOUF #BKFMBWFMPDJEBEBOUFTEFWPMWFSBM DBSSJM 䳜 /VODBFYDFEBMPTM䜷NJUFTEFWFMPDJa EBEFTUBCMFDJEPT %735/$* 4JTVWFI䜷DVMPTFFODBMMBFOOJFWF CBa SSP BSFOB FUD QVFEFJOUFOUBSMJCFa SBSFMNJTNPNFEJBOUFVONPWJNJFOa UP EF WBJW䜳O DPOEVDJFOEP IBDJB EFa MBOUFZIBDJBBUS䜫T/PJOUFOUFSFBMJa [BS FTUF QSPDFTP TJ TF FODVFOUSBO QFSTPOBTVPCKFUPTDFSDBEFMWFI䜷DVa MP%VSBOUFFMNPWJNJFOUPEFWBJW䜳O FM WFI䜷DVMP QPES䜷B NPWFSTF CSVTDBa NFOUFIBDJBEFMBOUFPIBDJBBUS䜫TBM MJCFSBSTFZQSPEVDJSMFTJPOFTPEB䜻PT BMBTQFSTPOBTVPCKFUPTDFSDBOPT 4VCJSVOBDVFTUBQSPOVODJBEB EFTQV䜳TEFVOBQBSBEB 1BSBTVCJSVOBDVFTUBNVZQSPOVODJBEB EFTQV䜳TEFVOBQBSBEB QJTFFMGSFOPZ FOHSBOF MB QBMBODB FO % DPOEVDDJ䜽O 4FMFDDJPOFMBNBSDIBBEFDVBEBTFH䝄OFM QFTP EF MB DBSHB Z MB JODMJOBDJ䜽O EF MB DVFTUB ZTVFMUFFMGSFOPEFNBOP1JTF FM BDFMFSBEPS EF GPSNB HSBEVBM NJFOa USBTTVFMUBFMGSFOPEFTFSWJDJP $POEVDJSTVWFI䜷DVMP
- 287. 4 4*45.%'3/04 'SFOPTBTJTUJEPT 4VWFI䜷DVMPEJTQPOFEFGSFOPTBTJTUJEPT RVF TF BKVTUBOEF NBOFSB BVUPN䜫UJDB QPSNFEJPEFMVTPOPSNBM O FM DBTP EF RVF MPT GSFOPT BTJTUJEPT QJFSEBOQPUFODJBQPSRVFFMNPUPSTFDBa MBPQPSBMHVOBPUSBSB[䜽O UPEBW䜷BQVFa EF EFUFOFS FM WFI䜷DVMP FKFSDJFOEP VOB NBZPSGVFS[BFOFMQFEBMEFMGSFOPEFMB RVF OPSNBMNFOUF OFDFTBSJB /P PCTa UBOUF MBEJTUBODJBEFGSFOBEBTFS䜫N䜫T MBSHB 4J FM NPUPS OP FTU䜫 GVODJPOBOEP MB GVFS[B EF GSFOBEP EF SFTFSWB TF EFTa HBTUBQBSDJBMNFOUFDBEBWF[RVFTFBDa DJPOBFMQFEBMEFMGSFOP/PCPNCFFFM QFEBMEFMGSFOPDVBOEPMBQPUFODJBBTJTa UJEBTFIBJOUFSSVNQJEP #PNCFFFMQFEBMEFMGSFOPT䜽MPDVBOEP TFB OFDFTBSJP NBOUFOFS FM DPOUSPM EFM WPMBOUFFOTVQFSGJDJFTSFTCBMBEJ[BT %735/$* 'SFOPT $POUJO䝄B $POUJO䝄B 䳜 /PNBOUFOHBFMQJFFOFMGSFOPEVa SBOUFMBDPOEVDDJ䜽OMMPQSPWPDBS䜷B UFNQFSBUVSBTBMUBTZBO䜽NBMBTFO FM GSFOP VO EFTHBTUF FYDFTJWP EF MPTGPSSPTZMBTQBTUJMMBTEFMGSFOPZ VOBVNFOUPFOMBEJTUBODJBEFGSFa OBEP 䳜 $VBOEP EFTDJFOEB VOB QFOEJFOUF QSPMPOHBEB DBNCJF B VOB NBSDIB DPSUBQBSBFWJUBSVUJMJ[BSMPTGSFOPT DPOTUBOUFNFOUF M VTP DPOUJOVBa EPEFMPTGSFOPTDBVTBS䜷BVOTPCSFa DBMFOUBNJFOUPZMBQ䜳SEJEBUFNQPa SBMEFTVGVODJPOBNJFOUP $POUJO䝄B $POUJO䝄B 䳜 -PT GSFOPT NPKBEPT JNQPTJCJMJUBO VOBGSFOBEBTFHVSB JODMVTPFTQPa TJCMF RVF FM WFI䜷DVMP TF FDIF B VO MBEPTJTFVUJMJ[BOMPTGSFOPTNPKBa EPT 6UJMJ[BS MPT GSFOPT DPO TVBWJa EBEJOEJDBS䜫TJTFIBOWJTUPBGFDUBa EPT EF FTUB NBOFSB $PNQSVFCF TJFNQSFMPTGSFOPTEFFTUBNBOFSB USBT BUSBWFTBS VO DIBSDP EF BHVB QSPGVOEP 1BSB TFDBSMPT QJTF MPT GSFOPTMJHFSBNFOUFNJFOUSBTNBOa UJFOF VOB WFMPDJEBE DPOTUBOUF FO M䜷OFBSFDUBZEFGPSNBTFHVSBIBTa UBRVFMPTGSFOPTWVFMWBOBGVODJPa OBS 䳜 $POGJSNF TJFNQSF MB QPTJDJ䜽O EFM QFEBM EFM GSFOP Z EFM BDFMFSBEPS BOUFTEFJOJDJBSMBDPOEVDDJ䜽O%FMP DPOUSBSJPQPES䜷BQJTBSFMBDFMFSBEPS FO MVHBS EFM GSFOP TUP DBVTBS䜷B VOBDDJEFOUFHSBWF ODBTPEFBWFS䜷BEFGSFOPT 4JMPTGSFOPTGBMMBONJFOUSBTFMWFI䜷DVMP TFEFTQMB[B QVFEFSFBMJ[BSVOBQBSBEB EFFNFSHFODJBDPOFMGSFOPEFFTUBDJPa OBNJFOUP /P PCTUBOUF MB EJTUBODJB EF GSFOBEB TFS䜫 NVDIP N䜫T MBSHB EF MP OPSNBM $POEVDJSTVWFI䜷DVMP
- 288. %735/$* 'SFOPEFFTUBDJPOBNJFOUP 6UJMJ[BS FMGSFOP EF FTUBDJPOBNJFOUP NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NPWJa NJFOUPZDPOWFMPDJEBEOPSNBMQVFEF DBVTBSMBQ䜳SEJEBEFDPOUSPMEFMNJTa NP4JTFWFPCMJHBEPBVUJMJ[BSFMGSFa OPEFFTUBDJPOBNJFOUPQBSBEFUFOFS FMWFI䜷DVMP I䜫HBMP DPO FYUSFNP DVJa EBEP *OEJDBEPSEFEFTHBTUFEFMPTGSFOPT EFEJTDP 4VWFI䜷DVMPDVFOUBDPOQBTUJMMBTEFGSFa OP $VBOEPMBTQBTUJMMBTEFGSFOPFTU䜫OEFTa HBTUBEBT Z TF OFDFTJUBO VOBT OVFWBT FTDVDIBS䜫 VO TPOJEP EF BWJTP BHVEP QSPDFEFOUF EF MPT GSFOPT EFMBOUFSPT P USBTFSPT TUF TPOJEP TF FTDVDIBS䜫 TJFNQSF RVF QJTF FM QFEBM EF GSFOP Z EVSBS䜫UBOUPDPNPMPQJTF 3FDVFSEF RVF BMHVOBT DPOEJDJPOFT EF DPOEVDDJ䜽O P DMJN䜫UJDBT QVFEFO QSPWPa DBS VO SVJEP DIJSSJBOUF MB QSJNFSB WF[ RVFGSFOF BVORVFTFBVOQPDP MMPOP FTTF䜻BMEFBWFS䜷BEFMPTGSFOPT 5/$*䜝/ 䳜 1BSBFWJUBSSFQBSBDJPOFTEFGSFOPT DPTUPTBT OPDPOUJO䝄FDPOEVDJFOEP DPOMBTQBTUJMMBTEFGSFOPHBTUBEBT 䳜 $BNCJFTJFNQSFMBTQBTUJMMBTEFMPT GSFOPTEFMBOUFSPTPUSBTFSPTDPNP KVFHP %735/$* %FTHBTUFEFGSFOPT MTPOJEPEFBEWFSUFODJBEFEFTHBTUF EFGSFOPTJHOJGJDBRVFTVWFI䜷DVMPSFa RVJFSFNBOUFOJNJFOUP4JJHOPSBFTUB BEWFSUFODJB TPOPSB MPT GSFOPT QFSa EFS䜫O TV SFOEJNJFOUP MP RVF QPES䜷B QSPWPDBSVOBDDJEFOUFHSBWF 'SFOPTEFUBNCPSUSBTFSP TJFTU䜫 FRVJQBEP -PT GSFOPT EF UBNCPS USBTFSPT OP UJFa OFO JOEJDBEPSFT EF EFTHBTUF 1PS FMMP MMFWF B DPNQSPCBS MPT GPSSPT EFM GSFOP USBTFSP TJ FTDVDIB VO TPOJEP EF HPNB FO MPT GSFOPT USBTFSPT 3FWJTF MPT GSFa OPTUSBTFSPTDBEBWF[RVFDBNCJFPSPa UFMBTSVFEBTZDVBOEPDBNCJFMPTGSFa OPTEFMBOUFSPT 'SFOPEFFTUBDJPOBNJFOUP DDJPOBSFMGSFOPEF FTUBDJPOBNJFOUP 1BSB BDDJPOBS FM GSFOP EF FTUBDJPOBa NJFOUP QJTFQSJNFSPFMQFEBMEFMGSFOP Z BDPOUJOVBDJ䜽O MFWBOUFMBQBMBODBEFM GSFOPEFFTUBDJPOBNJFOUPBMN䜫YJNP EFN䜫T BM BQBSDBS FM WFI䜷DVMP FO VOB QFOEJFOUF TFSFDPNJFOEBRVFMBQBMBOa DBEFDBNCJPTFTU䜳TJUVBEBFOVOBNBSa DIB CBKB BQSPQJBEB QBSB WFI䜷DVMPT EF USBOTFKFNBOVBMPFOMBQPTJDJ䜽O1 FTa UBDJPOBNJFOUP QBSBWFI䜷DVMPTEFUSBOa TFKFBVUPN䜫UJDP $POEVDJSTVWFI䜷DVMP
- 289. 5/$*䜝/ 䳜 $POEVDJSDPOFMGSFOPEFFTUBDJPOBa NJFOUP BDDJPOBEPDBVTBS䜫 FM EFTa HBTUF FYDFTJWP EF MB QBTUJMMB EFM GSFOPZEFMSPUPSEFMGSFOP 䳜 /P BDDJPOF FM GSFOP EF FTUBDJPOBa NJFOUP NJFOUSBT FM WFI䜷DVMP TF NVFWF FYDFQUP FO DBTP EF FNFSa HFODJB1PES䜷BEB䜻BSFMTJTUFNBEFM WFI䜷DVMP Z QPOFS FO QFMJHSP MB TFa HVSJEBE 4PMUBSFMGSFOPEFFTUBDJPOBNJFOUP 1BSBEFKBSEFVTBSFMGSFOPEFFTUBDJPa OBNJFOUP FOQSJNFSMVHBSQJTFFMGSFOP EFQJFZUJSFMJHFSBNFOUFEFMBQBMBODB EFM GSFOP EF FTUBDJPOBNJFOUP DPOUJa OVBDJ䜽O QVMTFFMCPU䜽OEFMJCFSBDJ䜽O Z CBKF MB QBMBODB EFM GSFOP EF FTUBDJPa OBNJFOUP NJFOUSBT TPTUJFOF FM CPa U䜽O 4JFMGSFOPEFFTUBDJPOBNJFOUPOPTFMJa CFSBPOPTFMJCFSBDPNQMFUBNFOUF TPa MJDJUFMBDPNQSPCBDJ䜽OEFMTJTUFNBFOVO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJa UBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP %735/$* 䳜 1BSB FWJUBS NPWJNJFOUPT JOWPMVOa UBSJPTBMQBSBSZBCBOEPOBSFMWFI䜷a DVMP OPVTFMBQBMBODBEFDBNCJPT FO MVHBS EFM GSFOP EF FTUBDJPOBa NJFOUP DDJPOF FM GSFOP EF FTUBa DJPOBNJFOUPZBTFH䝄SFTFEFRVFMB QBMBODB EF DBNCJPT FTU䜫 GJSNFa NFOUF DPMPDBEB FO MB QPTJDJ䜽O 1 FTUBDJPOBNJFOUP FO MPT WFI䜷DVMPT EFUSBOTNJTJ䜽OBVUPN䜫UJDB 䳜 /PQFSNJUBUPDBSFMGSFOPEFFTUBa DJPOBNJFOUPBQFSTPOBTRVFOPDPa OPDFO FM WFI䜷DVMP 4J TF TVFMUB FM GSFOP EF FTUBDJPOBNJFOUP EF GPSa NB JOWPMVOUBSJB QPES䜷B QSPWPDBS HSBWFTMFTJPOFT 䳜 5PEPTMPTWFI䜷DVMPTEFCFOUFOFSFM GSFOP EF FTUBDJPOBNJFOUP QVFTUP BMBQBSDBSQBSBFWJUBSNPWJNJFOUPT JOWPMVOUBSJPTEFMWFI䜷DVMPRVFQVFa EFIFSJSBTVTPDVQBOUFTPBQFBa UPOFT $POEVDJSTVWFI䜷DVMP
- 290. $PNQSVFCF FM UFTUJHPBEWFSUFODJB EFM GSFOPHJSBOEPFMJOUFSSVQUPSEFFODFOEJa EP B 0/ OP BSSBORVF FM NPUPS TUF UFTUJHP TF JMVNJOB BM BDDJPOBS FM GSFOP EFFTUBDJPOBNJFOUPDPOMBMMBWFEFFOa DFOEJEPFOMBQPTJDJ䜽O4535V0/ OUFTEFDPOEVDJS BTFH䝄SFTFEFRVFIB RVJUBEP FM GSFOP EF FTUBDJPOBNJFOUP Z EFRVFFMUFTUJHPEFBEWFSUFODJBEFMGSFa OPFTU䜫BQBHBEP 4J FM UFTUJHP EF BEWFSUFODJB EFM GSFOP QFSNBOFDFFODFOEJEPUSBTRVJUBSFMGSFa OPEFFTUBDJPOBNJFOUPNJFOUSBTFMNPa UPS FTU䜫 GVODJPOBOEP QPES䜷B IBCFS VO FSSPSFOFMTJTUFNBEFGSFOBEP4FOFa DFTJUBBUFODJ䜽OJONFEJBUB 4JFTQPTJCMF EFKFEFDPOEVDJSJONFEJBa UBNFOUF 4J OP FT QPTJCMF FYUSFNF MBT QSFDBVDJPOFTNJFOUSBTVUJMJDFFMWFI䜷DVMP Z TJHB DPOEVDJFOEP T䜽MP IBTUB MMFHBS B VOTJUJPTFHVSPPVOUBMMFS 4 4JTUFNBEFGSFOPTBOUJCMPRVFP #4 TJFTU䜫FRVJQBEP %735/$* M#4 P4$ OPFWJUBS䜫BDDJEFOUFT FODBTPEFNBOJPCSBTEFDPOEVDDJ䜽O OP BEFDVBEBT P QFMJHSPTBT VORVF TFNFKPSFFMDPOUSPMEFMWFI䜷DVMPEVa SBOUF MB GSFOBEB EF FNFSHFODJB NBOUFOHB TJFNQSF MB EJTUBODJB EF TFHVSJEBE -BT WFMPDJEBEFT EFM WFI䜷a DVMPEFCFOTFSSFEVDJEBTFODPOEJDJPa OFTEFDPOEVDDJ䜽OFYUSFNBT -BEJTUBODJBEFGSFOBEPQBSBWFI䜷DVa MPTFRVJQBEPTDPOTJTUFNBEFGSFOPT BOUJCMPRVFP P TJTUFNB EF DPOUSPM FMFDUS䜽OJDPEFFTUBCJMJEBE QVFEFTFS CBKP MBT TJHVJFOUFT DPOEJDJPOFT NBa ZPS RVF MB EF MPT WFI䜷DVMPT RVF OP UJFOFOFTUFTJTUFNB $POUJO䝄B $POUJO䝄B OFTUBTDPOEJDJPOFT FMWFI䜷DVMPEFa CF DPOEVDJSTF B WFMPDJEBEFT SFEVDJa EBT 䳜 1BWJNFOUPT BCSVQUPT DPO HSBWJMMB PDVCJFSUPTEFOJFWF 䳜 $PODBEFOBTFOMPTOFVN䜫UJDPT 䳜 O DBSSFUFSBT EPOEF MB TVQFSGJDJF FTU䜳DPSSP䜷EBPFOMBTRVFMBTVQFSa GJDJFUJFOFVOBBMUVSBEJGFSFOUF -BT DBSBDUFS䜷TUJDBT EF TFHVSJEBE EF VOWFI䜷DVMPFRVJQBEPDPO#4P4$ OP EFCFO DPNQSPCBSTF DPOEVDJFOEP B HSBO WFMPDJEBE P FO DVSWBT TUP QVFEFQPOFSFOQFMJHSPTVTFHVSJEBE ZMBEFMPTEFN䜫T M #4 QFSDJCF EF NBOFSB DPOUJOVB MB WFMPDJEBEEFMBTSVFEBT4JMBTSVFEBTTF WBOBCMPRVFBS FMTJTUFNB#4NPEVMB EFGPSNBSFQFUJEBMBQSFTJ䜽OEFMPTGSFa OPTIJES䜫VMJDPTBMBTSVFEBT $VBOEPVUJMJDFMPTGSFOPTFODPOEJDJPOFT RVF QPES䜷BO DBVTBS FM CMPRVFP EF MBT SVFEBT FTDVDIBS䜫 VO SVJEP TJNJMBS B UJLUJLQSPDFEFOUFEFMPTGSFOPTPCJFO OPUBS䜫 VOB TFOTBDJ䜽O DPSSFTQPOEJFOUF FOFMQFEBMEFMGSFOPTUBDPOEJDJ䜽OFT OPSNBMZTJHOJGJDBRVFFM#4FTU䜫BDUJa WBEP $POEVDJSTVWFI䜷DVMP
- 291. 1BSBMPHSBSFMN䜫YJNPCFOFGJDJPEFM#4 FOVOBTJUVBDJ䜽OEFFNFSHFODJB OPJOa UFOUFWBSJBSMBQSFTJ䜽OEFMPTGSFOPTOJ CPNCFBSMPT 1JTFFM QFEBM EFM GSFOP MP N䜫TGVFSUFQPTJCMFPMPGVFSUFRVFMBTJa UVBDJ䜽O MP SFRVJFSB Z QFSNJUB RVF FM #4 DPOUSPMF MB GVFS[B FKFSDJEB FO MPT GSFOPT / /05 4F PJS䜫 VO DMJD FO FM DPNQBSUJNFOUP EFMNPUPSDVBOEPFMWFI䜷DVMPFNQJFa DFBNPWFSTFEFTQV䜳TEFBSSBODBSFM NPUPSTUBTDPOEJDJPOFTTPOOPSNBa MFT F JOEJDBO RVF FM TJTUFNB EF GSFa OPT BOUJCMPRVFP GVODJPOB BEFDVBEBa NFOUF 䳜 *ODMVTPDPOFMTJTUFNBEFGSFOPTBOUJa CMPRVFP FM WFI䜷DVMP SFRVJFSF UPEBW䜷B EFVOBEJTUBODJBEFGSFOBEBDPOTJEFa SBCMF .BOUFOHB TJFNQSF MB EJTUBODJB EF TFHVSJEBE DPO FM WFI䜷DVMP RVF MF QSFDFEF 䳜 %FTBDFMFSFTJFNQSFRVFTFBDFSRVFB VOBDVSWBMTJTUFNBEFGSFOPTBOUJa CMPRVFPOPJNQJEFMPTBDDJEFOUFTEFa CJEP B VOB DPOEVDDJ䜽O B HSBO WFMPDJa EBE 䳜 OTVQFSGJDJFTEFMBDBM[BEBTVFMUBTP JSSFHVMBSFT FMGVODJPOBNJFOUPEFMTJTa UFNB EF GSFOPT BOUJCMPRVFP QVFEF SFRVFSJS VOB EJTUBODJB EF GSFOBEP N䜫TMBSHBRVFFOVOWFI䜷DVMPFRVJQBa EPDPOVOTJTUFNBEFGSFOPTDPOWFOa DJPOBM 5/$*䜝/ 䳜 4J MB MV[ EF BEWFSUFODJB EFM #4 QFSNBOFDFFODFOEJEB IBZVOGBMMP FOFM#4OFTUFDBTP MPTGSFOPT GVODJPOBS䜫ODPOOPSNBMJEBE $POUJO䝄B $POUJO䝄B 䳜 -BMV[EFBEWFSUFODJBEFM#4QFSa NBOFDFS䜫 FODFOEJEB BQSPYJNBEBa NFOUF EVSBOUF TFHVOEPT EFTa QV䜳T EF RVF FM JOUFSSVQUPS EF FOa DFOEJEP FTU䜳 FO 0/ %VSBOUF FTUF UJFNQP FM #4 SFBMJ[BS䜫 VO BVUPa EJBHO䜽TUJDPZMBMV[TFBQBHBS䜫TJFM SFTVMUBEPFTOPSNBM4JMBMV[QFSa NBOFDF FODFOEJEB QVFEF RVF FM #4 UFOHB VO QSPCMFNB O FTUF DBTP TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 5/$*䜝/ 䳜 MDPOEVDJSQPSDBSSFUFSBTDPOQPDB USBDDJ䜽O DPNPDBSSFUFSBTIFMBEBT Z BDDJPOBS MPT GSFOPT EF NBOFSB DPOUJOVB FM #4 TF BDUJWBS䜫 EF GPSNBDPOUJOVBZFMUFTUJHPEFBEa WFSUFODJB EFM #4 TF JMVNJOBS䜫 DIF FM DPDIF B VO MBEP TFHVSP Z QBSFFMNPUPS $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 292. $POUJO䝄B 䳜 7VFMWB BBSSBODBS FM NPUPS 4J FM UFTUJHP EF BEWFSUFODJB EFM #4 TF BQBHB FM TJTUFNB #4 WVFMWF B MB OPSNBMJEBE 4J OP QVFEF RVF FM #4 UFOHB VO QSPCMFNB O FTUF DBTP TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP /05 $VBOEPQJODFFMDPDIFQPSRVFMBCBa UFS䜷BFTU䜫EFTDBSHBEB FTQPTJCMFRVF FM NPUPS OP HJSF UBO CJFO DPNP EF DPTUVNCSF Z MB MV[ EF BEWFSUFODJB EFM#4TFFODJFOEBBMNJTNPUJFNa QP4JFTUPPDVSSF MBDBVTBFTVOWPMa UBKF CBKP FO MB CBUFS䜷B /P TJHOJGJDB RVFFM#4UFOHBVOBBWFS䜷B 䳜 䛫/PCPNCFFMPTGSFOPT 䳜 3FDBSHVFMBCBUFS䜷BBOUFTEFDPOa EVDJSFMWFI䜷DVMP $POUSPMFMFDUS䜽OJDPEF FTUBCJMJEBE 4$ TJFTU䜫 FRVJQBEP M DPOUSPM FMFDUS䜽OJDP EF FTUBCJMJEBE 4$ QFSNJUFFTUBCJMJ[BSFMWFI䜷DVMPEVa SBOUFNBOJPCSBTFODVSWBTM4$DPNa QSVFCBIBDJBE䜽OEFTFHJSBFMWPMBOUFZ IBDJBE䜽OEFTFEJSJHFSFBMNFOUFFMWFI䜷a DVMP M4$BDDJPOBMPTGSFOPTFOMBTSVFEBT JOEJWJEVBMFT F JOUFSWJFOF FO FM TJTUFNB EFHFTUJ䜽OEFMNPUPSQBSBFTUBCJMJ[BSFM WFI䜷DVMP %735/$* /PDPOEV[DBEFNBTJBEPS䜫QJEPTJMBT DPOEJDJPOFTEFMBW䜷BOPMPQFSNJUFO OJ UPNF DVSWBT B EFNBTJBEB WFMPDJa EBEMTJTUFNBEFDPOUSPMEFFTUBCJa MJEBEFMFDUS䜽OJDP 4$ OPFWJUBS䜫BDa DJEFOUFT 6O FYDFTP EF WFMPDJEBE BM HJSBS NBOJPCSBT CSVTDBT Z FM BRVBa QMBOJOH FO TVQFSGJDJFT NPKBEBT QVFa EFO DBVTBS BDDJEFOUFT HSBWFT 4䜽MP VODPOEVDUPSTFHVSPZBUFOUPQVFEF JNQFEJS BDDJEFOUFT BM FWJUBS NBOJPa CSBTRVFQSPWPRVFOMBQ䜳SEJEBEFMB USBDDJ䜽O*ODMVTPDPOFM4$JOTUBMBEP TJHB TJFNQSF MBT QSFDBVDJPOFT OPSa NBMFTQBSBMBDPOEVDDJ䜽OJODMVZFOEP MB DPOEVDDJ䜽O B WFMPDJEBEFT TFHVSBT QBSBEJDIBTDPOEJDJPOFT $POEVDJSTVWFI䜷DVMP
- 293. MTJTUFNBEFDPOUSPMFMFDUS䜽OJDPEFFTa UBCJMJEBE 4$ FTVOTJTUFNBFMFDUS䜽OJa DPEJTF䜻BEPQBSBBZVEBSBMDPOEVDUPSB NBOUFOFSFM DPOUSPM EFM WFI䜷DVMP FO DPOEJDJPOFT BEWFSTBT /P TVTUJUVZF MBT QS䜫DUJDBT EF DPOEVDDJ䜽O TFHVSBT %JGFa SFOUFTGBDUPSFTDPNPQVFEFTFSMBWFMPa DJEBE FM FTUBEP EF MB DBM[BEB Z FM VTP EFMBEJSFDDJ䜽OQPSQBSUFEFMDPOEVDUPS QVFEFOJOGMVJSFOMBFGFDUJWJEBEEFM4$ QBSBFWJUBSMBQ䜳SEJEBEFDPOUSPM4JHVF TJFOEPTVSFTQPOTBCJMJEBEFMDPOEVDJSZ UPNBSMBTDVSWBTBWFMPDJEBEFTSB[POBa CMFT BT䜷 DPNP FM EFKBS VO NBSHFO EF TFHVSJEBETVGJDJFOUF $VBOEPVUJMJDFMPTGSFOPTFODPOEJDJPOFT RVF QPES䜷BO DBVTBS FM CMPRVFP EF MBT SVFEBT FTDVDIBS䜫 VO SVJEP TJNJMBS B UJLUJLQSPDFEFOUFEFMPTGSFOPTPCJFO OPUBS䜫 VOB TFOTBDJ䜽O DPSSFTQPOEJFOUF FOFMQFEBMEFMGSFOPTUBDPOEJDJ䜽OFT OPSNBMZTJHOJGJDBRVFFM4$FTU䜫BDUJa WBEP / /05 4F PJS䜫 VO DMJD FO FM DPNQBSUJNFOUP EFMNPUPSDVBOEPFMWFI䜷DVMPFNQJFa DFBNPWFSTFEFTQV䜳TEFBSSBODBSFM $POUJO䝄B $POUJO䝄B NPUPSTUBTDPOEJDJPOFTTPOOPSNBa MFTFJOEJDBORVFFMTJTUFNBEFDPOa USPM FMFDUS䜽OJDP EF FTUBCJMJEBE GVOa DJPOBBEFDVBEBNFOUF 0QFSBDJ䜽OEFM4$ $POEJDJ䜽O4$0/ 䳜 $VBOEPFMFODFOEJEPFTU䜫FO 0/ MPT UFTUJHPT JOEJDBEPSFT EF 4$ Z 4$ 0'' TF JMVNJa OBO EVSBOUF BQSPYJNBEBa NFOUFTFHVOEPTZFM4$ TFBDUJWB 䳜 1VMTFFMCPU䜽O4$0''USBT HJSBSMBMMBWFEFFODFOEJEPB 0/ QBSB BQBHBS FM 4$ M JOEJDBEPS 4$ 0'' TF JMVNJa OBS䜫 1BSB BDUJWBS FM 4$ QVMTF FM CPU䜽O 4$ 0'' FM UFTUJHPJOEJDBEPS4$0''TF BQBHBS䜫 䳜 $VBOEP BSSBORVF FM NPUPS FTDVDIBS䜫 VO SVJEP E䜳CJM EF UJDUBD T FM 4$ RVF FTU䜫 SFBMJ[BOEPVOBBVUPDPNQSPa CBDJ䜽OBVUPN䜫UJDBEFMTJTUFa NB Z OP TJHOJGJDB RVF IBZB VOBBWFS䜷B %VSBOUFFMGVODJPOBNJFOUP $VBOEPFM4$FTU䜳BDUJWP FMUFTUJHPJOa EJDBEPS4$QBSQBEFBS䜫 䳜 $VBOEP FM QSPHSBNB EF FTa UBCJMJEBE FMFDUS䜽OJDP GVODJPa OB DPSSFDUBNFOUF QVFEF QFSDJCJSTF VOB MJHFSB QVMTBa DJ䜽O EFM WFI䜷DVMP 4F USBUB EFMFGFDUPEFMDPOUSPMEFGSFa OBEPZOPFTOJOHVOBTJUVBa DJ䜽OBO䜽NBMB 䳜 M TBMJS EFM CBSSP P DPOEVDJS QPS VOB DBM[BEB EFTMJ[BOUF MBT SQN EFM NPUPS SFWPMVa DJPOFT QPS NJOVUP QPES䜷BO OPBVNFOUBSBVORVFTFQJTF GJSNFNFOUF FM QFEBM EFM BDFMFSBEPS TUP UJFOF MB GJa OBMJEBE EF NBOUFOFS MB FTa UBCJMJEBEZMBUSBDDJ䜽OEFMWFa I䜷DVMP Z OP JOEJDB OJOH䝄O QSPCMFNB $POEJDJ䜽O4$0'' 1BSB DBODFMBS MB PQFSBDJ䜽O 4$ $POEVDJSTVWFI䜷DVMP
- 294. 䳜 TUBEP 1VMTF CSFWFNFOUFFM CPU䜽O 4$ 0'' FMUFTUJHPJOEJDBEPS4$0''TFJMVNJa OB Z BQBSFDF VO NFOTBKF O FTUF FTUBEP MBGVODJ䜽OEFDPOUSPMEFMNPa UPSOPFTU䜫PQFSBUJWBOPUSBTQBMBa CSBT MBGVODJ䜽OEFDPOUSPMEFMBUSBDa DJ䜽OOPFTU䜫PQFSBUJWB TPMPFTU䜫PQFa SBUJWBMBGVODJ䜽OEFDPOUSPMEFMPTGSFa OPT 䳜 TUBEP 1VMTFFMCPU䜽O4$0''EVSBOUFN䜫T EF TFHVOEPT M UFTUJHP JOEJDBEPS 4$0''TFFODFOEFS䜫 BQBSFDFS䜫VO NFOTBKFZTPOBS䜫VOBTF䜻BMBD䝄TUJDB EFBWJTPEF4$0''OFTUFFTUBEP MB GVODJ䜽O EF DPOUSPM EFM NPUPS Z MB GVODJ䜽O EF DPOUSPM EF MPT GSFOPT OP FTU䜫O PQFSBUJWBT O PUSBT QBMBCSBT MB GVODJ䜽O EF DPOUSPM EF FTUBCJMJEBE EFMWFI䜷DVMPOPFTU䜫PQFSBUJWB 4JFMJOUFSSVQUPSEFFODFOEJEPTFDPMPa DBFOMBQPTJDJ䜽O-0$,0'' CMPRVFP EFTBDUJWBEP DVBOEPFM4$FTU䜫BQBa HBEP FM4$QFSNBOFDFBQBHBEP6OB WF[WVFMWBBBSSBODBSFMNPUPS FM4$ WPMWFS䜫BBDUJWBSTFBVUPN䜫UJDBNFOUF 5 5FTUJHPJOEJDBEPS MDPMPDBSFMCPU䜽OEFFODFOEJEPFO0/ BDUJWBEP FM UFTUJHP JOEJDBEPS TF FOa DJFOEFZ BDPOUJOVBDJ䜽O TFBQBHBTJFM TJTUFNB4$GVODJPOBDPOOPSNBMJEBE MUFTUJHPJOEJDBEPS4$QBSQBEFBDVBOa EPGVODJPOBFM4$PTFJMVNJOBDVBOEP FM4$GBMMB MUFTUJHPJOEJDBEPS4$0''TFJMVNJOB DVBOEPFM4$TFBQBHBDPOFMCPU䜽O 5/$*䜝/ $POEVDJSDPOEJGFSFOUFTUBNB䜻PTEF SVFEBPEFOFVN䜫UJDPQPES䜷BQSPWPa DBS VO GBMMP EF GVODJPOBNJFOUP EFM $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 295. $POUJO䝄B TJTUFNB4$MDBNCJBSMPTOFVN䜫UJa DPT BTFH䝄SFTFEFRVFTPOEFMNJTNP UBNB䜻PRVFMPTOFVN䜫UJDPTPSJHJOBa MFT %735/$* M TJTUFNBEF DPOUSPM FMFDUS䜽OJDP EF FTUBCJMJEBE TPMP FT VOB BZVEB B MB DPOEVDDJ䜽O VTFMBTQSFDBVDJPOFTQBa SBVOBDPOEVDDJ䜽OTFHVSBSFEVDJFOEP MBWFMPDJEBEFOMBTDVSWBTPFOQBWJa NFOUP DPO IJFMP P OJFWF $POEV[DB EFTQBDJP Z OP JOUFOUF BDFMFSBS TJ FM UFTUJHPJOEJDBEPSEFM4$QBSQBEFBP TJMBDBSSFUFSBFTU䜫SFTCBMBEJ[B 6TPEF4$0'' $VBOEPDPOEVDF 䳜 M 4$ EFCFS䜷B FTUBS BDUJWP QBSB MB DPOEVDDJ䜽O EJBSJB TJFNQSF RVF TFB QPTJCMF 䳜 1BSB EFTBDUJWBS FM 4$ EVSBOUF MB DPOEVDDJ䜽O QVMTF FM CPU䜽O 4$ 0'' NJFOUSBTDPOEVDFTPCSFVOBTVQFSGJa DJFQMBOB /VODBQVMTFFMCPU䜽O4$0''NJFOUSBT FM 4$ FTU䜳 GVODJPOBOEP FM JOEJDBEPS 4$QBSQBEFBS䜫 4JTFBQBHBFM4$EVSBOUFTVGVODJPOBa NJFOUP FMWFI䜷DVMPQPES䜷BQFSEFSFMDPOa USPM /05 䳜 MPQFSBSFMWFI䜷DVMPTPCSFVOEJOBa N䜽NFUSP WFSJGJRVFRVFFM4$FTa U䜳BQBHBEP UFTUJHP4$0''JMVNJa OBEP 䳜 QBHBSFM4$OPBGFDUBBMGVODJPa OBNJFOUPEFM#4OJBMTJTUFNBEF GSFOPTFTU䜫OEBS %735/$* /VODBQVMTFFMCPU䜽O4$0''NJFOa USBTFM4$FTU䜳GVODJPOBOEP 4JTFBQBHBFM4$EVSBOUFTVGVODJPa OBNJFOUP FM WFI䜷DVMP QPES䜷B QFSEFS FMDPOUSPM 1BSB EFTBDUJWBS FM 4$ EVSBOUF MB DPOEVDDJ䜽O QVMTF FM CPU䜽O 4$ 0'' NJFOUSBTDPOEVDFTPCSFVOBTVQFSGJa DJFQMBOB 4JTUFNBEFBSSBORVFBTJTUJEPFO QFOEJFOUFT )$ TJFTU䜫 FRVJQBEP MTJTUFNBEFBSSBORVFBTJTUJEPFOQFOa EJFOUFTFTVOBGVODJ䜽ORVFQSPQPSDJPOB DPNPEJEBE M PCKFUJWP QSJODJQBM FT FWJa UBSRVFFMWFI䜷DVMPTFWBZBIBDJBBUS䜫T BM USBUBS EF BSSBODBS FO VOB DVFTUB BSSJCB P FO VOB TVQFSGJDJF JODMJOBEB M )$SFUJFOFMBQSFTJ䜽OEFGSFOBEPDSFBa EBQPSFMDPOEVDUPSEVSBOUFFMQSPDFEJa NJFOUP EF QBSBEB EVSBOUF TFHVOEPT EFTQV䜳TEFTPMUBSFMQFEBMEFMGSFOP %VSBOUF FM QFSJPEP EF SFUFODJ䜽O EF MB QSFTJ䜽O FM DPOEVDUPS UJFOF TVGJDJFOUF UJFNQPQBSBQSFTJPOBSFMQFEBMEFMBDFa MFSBEPSQBSBBSSBODBS -BQSFTJ䜽OEFGSFOBEPTFSFEVDFDVBOEP FMTJTUFNBEFUFDUBRVFMBJOUFODJ䜽OEFM DPOEVDUPFTBSSBODBS %735/$* M )$ TF BDUJWB OPSNBMNFOUF EVa SBOUF TFHVOEPT M DPOEVDUPS EFa CFS䜷BUFOFSDVJEBEPEFRVFFMWFI䜷DVa MP OP SVFEF IBDJB BUS䜫T QSPWPDBOEP VO BDDJEFOUF DPO MPT PCKFUPT P MBT $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 296. $POUJO䝄B QFSTPOBTRVFTFFODVFOUSBOEFUS䜫T BM OPUBS RVFFM WFI䜷DVMP SVFEB IBDJB BUS䜫T JOWPMVOUBSJBNFOUF EVSBOUF MB DPOEVDDJ䜽O QPS VOB DVFTUB B DBVTB EFVOBQSFTJ䜽OEFSFUFODJ䜽OEFMGSFOP JOTVGJDJFOUF DSFBEB QPS FM DPOEVDUPS EVSBOUFFMQSPDFEJNJFOUPEFQBSBEB /05 䳜 M )$ OP GVODJPOB DVBOEP MB QBa MBODBEFDBNCJPTEFMBUSBOTNJTJ䜽O FTU䜫 FO 1 FTUBDJPOBNJFOUP P FO QPTJDJ䜽O/ QVOUPNVFSUP 䳜 M)$TFBDUJWBJODMVTPDVBOEPFM 4$FTU䜫BQBHBEP QFSPOPTFBDUJa WB DVBOEP FM 4$ OP GVODJPOB DPa SSFDUBNFOUF (FTUJ䜽OEFFTUBCJMJEBEEFM WFI䜷DVMP 74. TJFTU䜫 FRVJQBEP TUF TJTUFNB QSPQPSDJPOB VOB NFKPSB FOMBSFQVFTUBEFMBEJSFDDJ䜽OZMBFTUBa CJMJEBE EFM WFI䜷DVMP TJ DPOEVDF FO VOB DBSSFUFSB SFTCBMBEJ[B P TJ FM WFI䜷DVMP EFUFDUB DBNCJPT FO FM DPFGJDJFOUF EF GSJDDJ䜽OFOUSFMBTSVFEBTEFSFDIBTFJ[a RVJFSEBTBMGSFOBS 0QFSBDJ䜽O74. $VBOEPFM74.FTU䜳FOGVODJPOBNJFOUP FMJOEJDBEPS4$ QBSQBEFBS䜫 $VBOEPMBHFTUJ䜽OEFFTUBCJMJEBEEFMWFa I䜷DVMP GVODJPOB DPSSFDUBNFOUF QVFEF QFSDJCJSTFVOBMJHFSBQVMTBDJ䜽OEFMWFI䜷a DVMP4FUSBUBEFMFGFDUPEFMDPOUSPMEF GSFOBEPZOPFTOJOHVOBTJUVBDJ䜽OBO䜽a NBMB M74.OPGVODJPOB 䳜 MDPOEVDJSFOVOBDBSSFUFSBMBEFBEB DPOQFOEJFOUFTPDVFTUBT 䳜 MDPOEVDJSNBSDIBBUS䜫T 䳜 M JOEJDBEPS 4$ 0'' QFSNBOFDF FODFOEJEP FO FM UBCMFSP EF JOTUSVa NFOUPT 䳜 MJOEJDBEPS14QFSNBOFDFFODFOEJa EPFOFMUBCMFSPEFJOTUSVNFOUPT 0QFSBDJ䜽O74.0'' 4JQVMTBFMCPU䜽O4$0''QBSBBQBHBS FM4$ FM74.UBNCJ䜳OTFDBODFMBZTF JMVNJOBFMJOEJDBEPS4$0'' 1BSB FODFOEFS FM 74. QVMTF EF OVFWP FMCPU䜽OMUFTUJHP4$0''TFBQBHB *OEJDBEPSEFBWFS䜷B M 74. QVFEF EFTBDUJWBSTF BVORVF OP DBODFMFFMGVODJPOBNJFOUPEFM74.QVMa TBOEPFMJOUFSSVQUPS4$0''TUPJOEJa DB RVF TF IB EFUFDUBEP VOB BWFS䜷B FO BMH䝄OQVOUPEFMTJTUFNBEFMBEJSFDDJ䜽O BTJTUJEB FM䜳DUSJDB P FO FM TJTUFNB 74. 4JFMUFTUJHPJOEJDBEPS4$ PFMUFTa UJHPEFBEWFSUFODJB14QFSNBOFDFFOa DFOEJEP TPMJDJUF MB DPNQSPCBDJ䜽O EFM TJTUFNBFOVOUBMMFSQSPGFTJPOBM,JBSFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP /05 䳜 M74.FTU䜫EJTF䜻BEPQBSBGVODJPa OBSBN䜫TEFVOPTLNIFOMBT DVSWBT $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 297. $POUJO䝄B 䳜 M74.FTU䜫EJTF䜻BEPQBSBGVODJPa OBSBN䜫TEFVOPTLNIDVBOa EPFMWFI䜷DVMPGSFOBFOVOBDBSSFa UFSBDPOHSJFUBT6OBDBSSFUFSBDPO HSJFUBT UJFOFTVQFSGJDJFT DPO EJGFa SFOUFTGVFS[BTEFGSJDDJ䜽O %735/$* 䳜 M TJTUFNB EF DPOUSPM EF FTUBCJMJa EBEEFMWFI䜷DVMPOPTVTUJUVZFBMBT QS䜫DUJDBT EF DPOEVDDJ䜽O TFHVSB TJNQMFNFOUFFTVOBGVODJ䜽OTVQMFa NFOUBSJB T SFTQPOTBCJMJEBE EFM DPOEVDUPS DPNQSPCBS TJFNQSF MB WFMPDJEBEZMBEJTUBODJBDPOFMWFI䜷a DVMP RVF MF QSFDFEF HBSSF TJFNa QSF GJSNFNFOUF FM WPMBOUF NJFOa USBTDPOEVDF $POUJO䝄B $POUJO䝄B 䳜 4VWFI䜷DVMPFTU䜫EJTF䜻BEPQBSBBDa UJWBSTF TFH䝄O MBT JOUFODJPOFT EFM DPOEVDUPS JODMVTP TJ UJFOF FM 74. JOTUBMBEP 4JHB TJFNQSF UPEBT MBT QSFDBVDJPOFT OPSNBMFT QBSB VOB DPOEVDDJ䜽OBVOBWFMPDJEBETFHVSB TFH䝄O MBT JODMFNFODJBT EFM UFJNQP PTJTFUSBUBEFVODBSSFUFSBEFTMJa [BOUF 䳜 4JDPOEVDFDPOEJGFSFOUFTUBNB䜻PT EF SVFEB P EF OFVN䜫UJDP QPES䜷B QSPWPDBSMBBWFS䜷BEFM74.MDBNa CJBS MPT OFVN䜫UJDPT BTFH䝄SFTF EF RVFTPOEFMNJTNPUBNB䜻PRVFMPT OFVN䜫UJDPTPSJHJOBMFT 44TF䜻BMEFQBSBEBEF FNFSHFODJB TJFTU䜫FRVJQBEP M TJTUFNB EF MB TF䜻BM EF QBSBEB EF FNFSHFODJB BWJTB BM DPOEVDUPS RVF TF FODVFOUSB EFUS䜫T IBDJFOEP QBSQBEFBS MBTMVDFTEFGSFOPDVBOEPFMWFI䜷DVMPTF EFUJFOF CSVTDBNFOUF P DVBOEP FM #4 TFBDUJWBBMGSFOBS MTJTUFNBTFBDUJWB DVBOEPMBWFMPDJEBEEFMWFI䜷DVMPFTTVa QFSJPSBLNIZMBEFTBDFMFSBDJ䜽OFT TVQFSJPSBNT䛼PFM#4TFBDUJWBEVa SBOUFMBGSFOBEBEFFNFSHFODJB $VBOEPMBWFMPDJEBEEFMWFI䜷DVMPTFBJOa GFSJPSBLNIZFM#4TFEFTBDUJWFP IBZB QBTBEP MB TJUVBDJ䜽O EF QBSBEB CSVTDB MBMV[EFGSFOPEFKBS䜫EFQBSQBa EFBS 5/$*䜝/ MTJTUFNBEFMBTF䜻BMEFQBSBEBEF FNFSHFODJB OP GVODJPOB TJ MBT MVDFT EFFNFSHFODJBZBFTU䜫OFODFOEJEBT #VFOBTQS䜫DUJDBTEFGSFOBEP %735/$* 䳜 $VBOEPBCBOEPOFPBQBSRVFFMWFa I䜷DVMP BDDJPOFTJFNQSFFMGSFOPEF FTUBDJPOBNJFOUP FO MB NFEJEB EF MPQPTJCMFZDPMPRVFMBUSBOTNJTJ䜽O EFMWFI䜷DVMPFOMBQPTJDJ䜽OEFFTUBa DJPOBNJFOUP -PT WFI䜷DVMPT RVF OP UJFOFOFMGSFOPEFFTUBDJPOBNJFOUP DPNQMFUBNFOUF BDDJPOBEP DPSSFO SJFTHP EF EFTQMB[BSTF EF GPSNB EFTBQFSDJCJEB DBVTBOEP EB䜻PT B UFSDFSPTZBMQSPQJPDPOEVDUPS $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 298. $POUJO䝄B 䳜 5PEPTMPTWFI䜷DVMPTEFCFOUFOFSFM GSFOP EFFTUBDJPOBNJFOUP QVFTUP BMBQBSDBSQBSBFWJUBSNPWJNJFOUPT JOWPMVOUBSJPTEFMWFI䜷DVMPRVFQVFa EFIFSJSBTVTPDVQBOUFTPBQFBa UPOFT 䳜 5SBT IBCFS BQBSDBEP FM WFI䜷DVMP BOa UFTEFFNQF[BSBDPOEVDJS DPNQSVFa CF RVF FM GSFOP EF FTUBDJPOBNJFOUP OPFTU䜫QVFTUPZRVFMBMV[JOEJDBEPSB EF GSFOP EF FTUBDJPOBNJFOUP FTU䜫 BQBHBEB 䳜 $POEVDJS QPS BHVB QVFEF IBDFS RVF MPTGSFOPTTFNPKFO5BNCJ䜳OQVFEFO NPKBSTFDVBOEPTFMBWBFMDPDIF-PT GSFOPT NPKBEPT QVFEFO TFS QFMJHSPa TPT M DPDIF QVFEF OP QBSBSTF UBO S䜫QJEBNFOUFTJMPTGSFOPTFTU䜫ONPa KBEPT -PT GSFOPT NPKBEPT QVFEFO QSPWPDBS RVF FM DPDIF WBZB IBDJB VO MBEP 1BSBTFDBSMPTGSFOPT BDDJPOFMPTGSFa OPT QPDP B QPDP IBTUB RVF MB BDDJ䜽O EF GSFOBEP WVFMWB B MB OPSNBMJEBE 5FOHBDVJEBEPEFNBOUFOFSFMDPDIF CBKP DPOUSPM FO UPEP NPNFOUP 4J MB BDDJ䜽OEFGSFOBEPOPWVFMWFBMBOPSa NBMJEBE EFU䜳OHBTFUBOQSPOUPDPNP SFTVMUFTFHVSPZMMFWFFMWFI䜷DVMPBVO UBMMFSQSPGFTJPOBMQBSBRVFMPJOTQFDa DJPOFO ,JBSFDPNJFOEBMMBNBSBVODFOUSPEF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 /P CBKF VOB QFOEJFOUF FO QVOUP NVFSUP TUP FT FYUSFNBEBNFOUF QFMJHSPTP.BOUFOHBFMDPDIFTJFNQSF DPO NBSDIB VUJMJDF MPT GSFOPT QBSB CBKBS MB WFMPDJEBE EFTQV䜳T DBNCJF B VOBNBSDIBNFOPSQBSBRVFFMNPUPS BMGSFOBMFBZVEFBNBOUFOFSVOBWFa MPDJEBETFHVSB 䳜 /PTFBQPZFFOFMQFEBMEFMGSFOP %FTDBOTBSTVQJFFOFMQFEBMEFMGSFOP NJFOUSBTDPOEVDFQVFEFSFTVMUBSQFMJa HSPTP QPSRVF QVFEF QSPWPDBS FM TPa CSFDBMFOUBNJFOUPEFMPTGSFOPTZRVF MBQ䜳SEJEBEFTVFGFDUJWJEBE5BNCJ䜳O BVNFOUB FM EFTHBTUF EF MPT DPNQPa OFOUFTEFMGSFOP 䳜 4J VOB SVFEB TF QJODIB EVSBOUF MB DPOEVDDJ䜽O VUJMJDFDVJEBEPTBNFOUFFM GSFOP Z NBOUFOHB FM DPDIF FO M䜷OFB SFDUB NJFOUSBT BNJOPSB MB WFMPDJEBE 4JFTU䜫DPOEVDJFOEPMPTVGJDJFOUFNFOa UF EFTQBDJP TBMHB EF MB DBSSFUFSB Z QBSFFOVOMVHBSTFHVSP 䳜 4JTVDPDIFFTU䜫FRVJQBEPDPOUSBOTa NJTJ䜽OBVUPN䜫UJDB OPEFKFRVFTVDPa DIFBDFMFSF1BSBFWJUBSRVFTFNVFWB MFOUBNFOUF IBDJB EFMBOUF NBOUFOHB FMQJFGJSNFNFOUFFOFMQFEBMEFMGSFa OPDVBOEPFMWFI䜷DVMPFTU䜳QBSBEP $POEVDJSTVWFI䜷DVMP
- 299. 䳜 1SFDBVDJ䜽O BMBQBSDBS FM WFI䜷DVMP FO VOBQFOEJFOUFDDJPOFGJSNFNFOUFFM GSFOP EF FTUBDJPOBNJFOUP Z DPMPRVF MBQBMBODBEFDBNCJPTFO1 FTUBDJPa OBNJFOUP 4JTVWFI䜷DVMPFTU䜫DVFTUB BCBKP HJSF MBT SVFEBT EFMBOUFSBT IBa DJBFMCPSEFEFMBCBORVFUBQBSBFWJa UBSRVFFMWFI䜷DVMPSVFEF4JTVWFI䜷a DVMP FTU䜫 DVFTUB BSSJCB HJSF MBT SVFa EBT EFMBOUFSBT FO EJSFDDJ䜽O PQVFTUB BM CPSEF EF MB CBORVFUB QBSB FWJUBS RVFFMWFI䜷DVMPSVFEF4JOPIBZCPSEJa MMP P TF OFDFTJUB QPS PUSBT SB[POFT FWJUBS RVF FM WFI䜷DVMP SVFEF CMPRVFF MBTSVFEBT 䳜 #BKP BMHVOBT DPOEJDJPOFT FM GSFOP EF FTUBDJPOBNJFOUPQPES䜷BDPOHFMBSTFFO MB QPTJDJ䜽O BDDJPOBEB TUP FT N䜫T QSPCBCMFDVBOEPIBZBDVNVMBDJ䜽OEF OJFWFPIJFMPDFSDBEFMPTGSFOPTUSBa TFSPT P TJ MPT GSFOPT FTU䜫O NPKBEPT 4JIBZSJFTHPEFRVFFMGSFOPEFFTUBa DJPOBNJFOUPTFDPOHFMF VUJM䜷DFMPUFNa QPSBMNFOUFNJFOUSBTDPMPDBMBQBMBOa DBEFDBNCJPTFOMBQPTJDJ䜽O1 FTUBa DJPOBNJFOUP Z CMPRVFB MBT SVFEBT USBTFSBTQBSBRVFFMWFI䜷DVMPOPQVFa EB SPEBS %FTQV䜳T RVJUF FM GSFOP EF FTUBDJPOBNJFOUP 䳜 /PNBOUFOHBFMWFI䜷DVMPFOVOBDVFTa UB DPO FM QFEBM EFM BDFMFSBEPS TUP QVFEFQSPWPDBSFMTPCSFDBMFOUBNJFOa UPEFMBUSBOTNJTJ䜽O6UJMJDFTJFNQSFFM QFEBMEFMGSFOPPFMGSFOPEFFTUBDJPa OBNJFOUP $POEVDJSTVWFI䜷DVMP
- 300. 4 4*45.%$0/530-%$36$30 4*45䜋26*1%0 MTJTUFNBEFDPOUSPMEFDSVDFSPMFQFSa NJUF QSPHSBNBSFM WFI䜷DVMP QBSB RVF NBOUFOHB VOB WFMPDJEBE DPOTUBOUF TJO QJTBSFMBDFMFSBEPS TUF TJTUFNB FTU䜫 EJTF䜻BEP QBSB GVOa DJPOBS B VOB WFMPDJEBE TVQFSJPS B LNIBQSPYJNBEBNFOUF %735/$* 䳜 4JTFEFKBFODFOEJEPFMDPOUSPMEFM DSVDFSP TFJMVNJOBMBMV[EFMJOEJa DBEPS$36*4FOFMQBOFMEFJOTUSVa NFOUPT FMDPOUSPMEFDSVDFSPQPa ES䜷B BDUJWBSTF JOWPMVOUBSJBNFOUF .BOUFOHB BQBHBEP FM TJTUFNB EF DPOUSPM EF DSVDFSP JOEJDBEPS EF DSVDFSP BQBHBEP DVBOEP OP TF VUJMJDF FM DPOUSPM EF DSVDFSP QBSB FWJUBS BKVTUFT JOWPMVOUBSJPT EF MB WFMPDJEBE 䳜 6UJMJDF FM TJTUFNB EF DPOUSPM EF DSVDFSP T䜽MP BM WJBKBS QPS BVUPQJTa UBTZDPOCVFOBTDPOEJDJPOFTBNa CJFOUBMFT $POUJO䝄B $POUJO䝄B 䳜 /P VUJMJDF FM DPOUSPM EF DSVDFSP DVBOEPOPTFBTFHVSPNBOUFOFSFM WFI䜷DVMPBVOBWFMPDJEBEDPOTUBOUF QPS FKFNQMP BM DPOEVDJS FO US䜫GJDP MFOUPPWBSJBCMF BMDPOEVDJSFODBa SSFUFSBTEFTMJ[BOUFT MMVWJB IJFMPP OJFWF P DPO WJFOUP P BM JS QPS DBa SSFUFSBTDPODVFTUBTIBDJBBSSJCBP IBDJBBCBKPTVQFSJPSFTBM 䳜 5FOHB FTQFDJBM DVJEBEP DPO MBT DPOEJDJPOFT EF DPOEVDDJ䜽O BM VUJMJa [BSFMTJTUFNBEFDPOUSPMEFDSVDFa SP 5/$*䜝/ %VSBOUF MB DPOEVDDJ䜽O DPO MB WFMPDJa EBE EF DSVDFSP FO VO WFI䜷DVMP EF USBOTFKFNBOVBM OPDBNCJBBQVOUP NVFSUPTJOQJTBSFMQFEBMEFMFNCSBa HVF ZBRVFTJOP FMNPUPSTFTPCSFa SSFWPMVDJPOBS䜫 4J FTUP TVDFEF QJTF FMQFEBMEFMFNCSBHVFPMJCFSFFMJOa UFSSVQUPS0/0''EFDPOUSPMEFDSVa DFSP /05 %VSBOUF FM GVODJPOBNJFOUP OPSNBM EFM DPOUSPM EF DSVDFSP BM BDUJWBS P SFBDUJWBS FM JOUFSSVQUPS 45 USBT BDDJPOBSMPTGSFOPT FMDPOUSPMEFDSVa DFSP TF BDUJWB EVSBOUF VOPT TFHVOEPTTUBEFNPSBFTOPSNBM /05 1BSBBDUJWBSFMDPOUSPMEFDSVDFSP QJa TF FM QFEBM EFM GSFOP BM NFOPT VOB WF[EFTQV䜳TEFHJSBSMBMMBWFEFFOa DFOEJEPBMBQPTJDJ䜽O0/PEFBSSBOa DBSFMNPUPSMMPTJSWFQBSBDPNQSPa CBS RVF FM GSFOP QBSUF JNQPSUBOUF QBSB DBODFMBS FM DPOUSPM EF DSVDFSP FTU䜳FODPOEJDJPOFTOPSNBMFT $POEVDJSTVWFI䜷DVMP
- 301. * *OUFSSVQUPSEFDPOUSPMEF DSVDFSP 0$/a $- $BODFMBMBPQFSBDJ䜽OEF DPOUSPMEFDSVDFSP $36*4 4FFODJFOEFZTFBQBHBFM TJTUFNBEFDPOUSPMEFDSVa DFSP 34 3FDVQFSBPBVNFOUBMB WFMPDJEBE 45%FGJOFPSFEVDFMBWFMPDJa EBEEFMDPOUSPMEFDSVDFSP 1BSBBKVTUBSMBWFMPDJEBEEF DPOUSPMEFDSVDFSP 1VMTFFMCPU䜽OEFDSVDFSP $36*a 4FOFMWPMBOUFQBSBBDUJWBSFMTJTa $POEVDJSTVWFI䜷DVMP
- 302. UFNBMUFTUJHPJOEJDBEPSEFDSVDFa SPTFJMVNJOBS䜫 DFMFSF BMB WFMPDJEBE RVF EFTFF RVFEFCFTFSTVQFSJPSBLNI / /05 5SBOTNJTJ䜽ONBOVBM 1BSB MPT WFI䜷DVMPT DPO USBOTNJTJ䜽O NBOVBM EFCFQJTBSFMQFEBMEFMGSFOP BMNFOPTVOBWF[QBSBFTUBCMFDFSFM DPOUSPM EF DSVDFSP USBT BSSBODBS FM NPUPS .VFWB MB QBMBODB IBDJB BCBKP B 45 Z TV䜳MUFMB B MB WFMPDJEBE EFa TFBEB M UFTUJHP JOEJDBEPS EF DSVa DFSP TF JMVNJOBS䜫 4VFMUF FM QFEBM EFMBDFMFSBEPSBMNJTNPUJFNQP4F NBOUFOES䜫BVUPN䜫UJDBNFOUFMBWFa MPDJEBEEFTFBEB OVOBDVFTUBQSPOVODJBEB FMWFI䜷a DVMP QVFEF SFEVDJS P BVNFOUBS MB WFMPDJEBE MJHFSBNFOUF BM DPOEVDJS DVFTUBBCBKP $POEVDJSTVWFI䜷DVMP
- 303. 1 1BSBBVNFOUBSMBWFMPDJEBEEF DPOUSPMEFDSVDFSPTFMFDDJPOBEB 4JHB DVBMRVJFSB EFMPT QSPDFEJNJFOUPT RVFTFJOEJDBOBDPOUJOVBDJ䜽O 䳜 .VFWBMBQBMBODBIBDJBBSSJCB B34 ZNBOU䜳OHBMBQVMTBEB4VWFI䜷DVMP BDFMFSBS䜫4VFMUFMBQBMBODBBMBWFMPa DJEBERVFEFTFF 䳜 .VFWBMBQBMBODBIBDJBBSSJCB B34 ZTV䜳MUFMBJONFEJBUBNFOUF-BWFa MPDJEBEEFDSVDFSPBVNFOUBS䜫LNI DBEBWF[RVFTFNVFWBMBQBMBODBIBa DJBBSSJCB B34 EFFTUBGPSNB 1BSBEJTNJOVJSMBWFMPDJEBEEF DSVDFSP $POEVDJSTVWFI䜷DVMP
- 304. 4JHB DVBMRVJFSB EFMPT QSPDFEJNJFOUPT RVFTFJOEJDBOBDPOUJOVBDJ䜽O 䳜 .VFWBMBQBMBODBIBDJBBCBKP B45 ZNBOU䜳OHBMBQVMTBEBMWFI䜷DVMPEJTa NJOVJS䜫 EF WFMPDJEBE HSBEVBMNFOUF 4VFMUF MB QBMBODB B MB WFMPDJEBE RVF EFTFFNBOUFOFS 䳜 .VFWBMBQBMBODBIBDJBBCBKP B45 ZTV䜳MUFMBJONFEJBUBNFOUF-BWFMPDJa EBE EF DSVDFSP BVNFOUBS䜫 LNI DBEBWF[RVFTFNVFWBMBQBMBODBIBa DJBBCBKP B45 EFFTUBGPSNB 1 1BSBBDFMFSBSUFNQPSBMNFOUF DPOFMDPOUSPMEFDSVDFSP FODFOEJEP 4JEFTFBBDFMFSBSUFNQPSBMNFOUFDVBOa EPFMDPOUSPMEFDSVDFSPFTU䜫FODFOEJEP QJTFFMQFEBMEFMBDFMFSBEPS-BWFMPDJEBE BVNFOUBEBOPJOUFSGFSJS䜫DPOMBPQFSBa DJ䜽O EF DPOUSPM EF DSVDFSP OJ DBNCJBS䜫 MBWFMPDJEBEBKVTUBEB 1BSBWPMWFSBMBWFMPDJEBEBKVTUBEB SFUJa SFFMQJFEFMBDFMFSBEPS 1BSBDBODFMBSFMDPOUSPMEF DSVDFSP SFBMJDFVOBEFMBT BDDJPOFTTJHVJFOUFT 䳜 1JTFFMQFEBMEFMGSFOP 䳜 1VMTF FM QFEBM EFM FNCSBHVF TJ FTU䜫 FRVJQBEP DPO VOB USBOTNJTJ䜽O NBa OVBM 䳜 $BNCJF B / QVOUP NVFSUP TJ FTU䜫 FRVJQBEP DPO VOB USBOTNJTJ䜽O BVUPa N䜫UJDB 䳜 1VMTFFMJOUFSSVQUPS0$/$-TJUVBa EPFOFMWPMBOUFEFEJSFDDJ䜽O 䳜 3FEV[DB MB WFMPDJEBE EFM WFI䜷DVMP B VOB WFMPDJEBE JOGFSJPS B MB WFMPDJEBE EFMBNFNPSJBFOLNI 䳜 3FEV[DB MB WFMPDJEBE EFM WFI䜷DVMP B NFOPT EF BQSPYJNBEBNFOUF LNI $BEBVOBEFFTUBTBDDJPOFTDBODFMBS䜫MB PQFSBDJ䜽OEFMDPOUSPMEFDSVDFSP FMUFTa UJHPJOEJDBEPSEFMDPOUSPMEFDSVDFSPBDa UJWBEPTFBQBHBS䜫 QFSPOPEFTBDUJWBS䜫 FMTJTUFNB4JRVJFSFSFBOVEBSMBPQFSBa DJ䜽OEFDPOUSPMDSVDFSP NVFWBMBQBMBOa DBTJUVBEBFOFMWPMBOUFIBDJBBSSJCB B 34 3FHSFTBS䜫BMBQPTJDJ䜽OQSFBKVTa UBEBQSFWJBNFOUF $POEVDJSTVWFI䜷DVMP
- 305. 1 1BSBSFBOVEBSMBWFMPDJEBEEF DSVDFSPBN䜫TEFLNI BQSPYJNBEBNFOUF 4J TF VUJMJ[BPUSP N䜳UPEP EJTUJOUP EFM CPU䜽O EF DSVDFSP $36*4 QBSB DBOa DFMBSMBWFMPDJEBEEFDSVDFSPZFMTJTUFa NB TJHVF BDUJWP MB 䝄MUJNB WFMPDJEBE BKVTUBEBTFSFBOVEBS䜫BVUPN䜫UJDBNFOa UFDVBOEPNVFWBMBQBMBODBIBDJBBSSJCB IBDJB34 /PPCTUBOUF OPTFSFBOVEBS䜫TJMBWFMPa DJEBEEFMWFI䜷DVMPTFSFEVDFBNFOPTEF LNIBQSPYJNBEBNFOUF 1BSBEFTBDUJWBSFMDPOUSPMEF DSVDFSP MMFWFBDBCPVOBEFMBT BDDJPOFTTJHVJFOUFT 䳜 1VMTFFMCPU䜽OEFDSVDFSP $36*4 FM UFTUJHP JOEJDBEPS EF DSVDFSP TF BQBHBS䜫 䳜 QBHVFFMFODFOEJEP TUBT EPT BDDJPOFT DBODFMBO FM GVODJPa OBNJFOUPEFMDPOUSPMEFDSVDFSP4JEFa TFB SFBOVEBS MB PQFSBDJ䜽O EF DPOUSPM DSVDFSP SFQJUB MPT QBTPT NFODJPOBEPT FO䳖1BSBBKVTUBSMBWFMPDJEBEEFDPOUSPM EFDSVDFSP䳗FOMBQ䜫HJOB $POEVDJSTVWFI䜷DVMP
- 306. 4 4*45.%$0/530-%--䜗.*5%7-0$*%% 4*45䜋26*1%0 1VFEFFTUBCMFDFSFMM䜷NJUFEFWFMPDJEBE TJOPEFTFBDPOEVDJSBVOBWFMPDJEBETVa QFSJPSBMBFTQFD䜷GJDB 4J DPOEVDFTPCSFQBTBOEP FM M䜷NJUF EF WFMPDJEBEBKVTUBEP FMTJTUFNBEFBEWFSa UFODJB TF BDUJWB FM M䜷NJUF EF WFMPDJEBE BKVTUBEP QBSQBEFBS䜫 Z TPOBS䜫 VOB TFa 䜻BMBD䝄TUJDB IBTUBRVFFMWFI䜷DVMPWVFMa WBBMM䜷NJUFEFWFMPDJEBEGJKBEP /05 .JFOUSBTFMDPOUSPMEFMM䜷NJUFEFWFMPa DJEBEFTU䜳FOGVODJPOBNJFOUP FMTJTa UFNBEFDPOUSPMEFDSVDFSPOPQVFEF BDUJWBSTF *OUFSSVQUPSEFDPOUSPMEFMM䜷NJUF EFWFMPDJEBE 0$BODFMBFMM䜷NJUFEFWFMPDJEBEBKVTUBa EP BDUJWBPEFTBDUJWBFMTJTUFNBEF DPOUSPMEFMM䜷NJUFEFWFMPDJEBE 34 3FDVQFSBPBVNFOUBMBWFMPDJEBE EFMDPOUSPMEFMM䜷NJUFEFWFMPDJEBE 45 3FDVQFSB P EJTNJOVZF MB WFMPDJa EBEEFMDPOUSPMEFMM䜷NJUFEFWFMPDJEBE 1BSBBKVTUBSFMM䜷NJUFEF WFMPDJEBE 1VMTFEPTWFDFTFMCPU䜽OEFMM䜷NJUF EF WFMPDJEBE FO FM WPMBOUF QBSBBDUJWBSFMTJTUFNB MUFTUJHPJOEJDBEPSEFM䜷NJUFEFWFa MPDJEBETFJMVNJOBS䜫 $POEVDJSTVWFI䜷DVMP
- 307. .VFWBMBQBMBODBIBDJBBSSJCB IBTa UB45 .VFWB MB QBMBODB IBDJB BSSJCB B 34 PIBDJBBCBKP B45 ZTV䜳Ma UFMB B MB WFMPDJEBE EFTFBEB .VFWB MB QBMBODB IBDJB BSSJCB B 34 P IBDJBBCBKP B45 ZNBOU䜳OHBMB -BWFMPDJEBEBVNFOUBS䜫PEJTNJOVJa S䜫FOLNI 4FNPTUSBS䜫FMM䜷NJUFEFWFMPDJEBEEFGJa OJEP 1BSBDPOEVDJSTPCSFQBTBOEPFMM䜷NJUFEF WFMPDJEBE BKVTUBEP QJTF DPO GVFS[B FM QFEBM EFM BDFMFSBEPS N䜫T EFM IBTUBRVFTFBDDJPOFFMNFDBOJTNPLJDL EPXODPOVODMJDDPOUJOVBDJ䜽O FMM䜷NJa UF EF WFMPDJEBE BKVTUBEP QBSQBEFBS䜫 Z TPOBS䜫VOBTF䜻BMBD䝄TUJDBIBTUBRVFTF SFHSFTFBMM䜷NJUFEFWFMPDJEBEBKVTUBEP $POEVDJSTVWFI䜷DVMP
- 308. / /05 䳜 4J FMQFEBM EFM BDFMFSBEPS TF QJTB NFOPTEFM FMWFI䜷DVMPOPTPa CSFQBTBS䜫 FM M䜷NJUF EF WFMPDJEBE BKVTUBEP TJOP RVF NBOUFOES䜫 MB WFMPDJEBEEFOUSPEFMM䜷NJUF 䳜 6ODMJDQSPDFEFOUFEFMNFDBOJTNP EF SFEVDDJ䜽O EF NBSDIB BM QJTBS DPNQMFUBNFOUFFMQFEBMEFMBDFMFa SBEPSFTVOBDPOEJDJ䜽OOPSNBM 1BSBEFTBDUJWBSFMDPOUSPMEF M䜷NJUFEFWFMPDJEBE SFBMJDFVOB EFMBTBDDJPOFTTJHVJFOUFT 䳜 1VMTFEFOVFWPFMJOUFSSVQUPS 䳜 QBHVFFMFODFOEJEP 4J QVMTB VOB WF[ FM JOUFSSVQUPS 0 TF DBODFMBS䜫FMM䜷NJUFEFWFMPDJEBEBKVTUBa EP QFSPFMTJTUFNBOPTFEFTBDUJWBS䜫4J RVJFSF SFJOJDJBS FM M䜷NJUF EF WFMPDJEBE NVFWBMBQBMBODBIBDJBBSSJCB B34 PIBDJBBCBKP B45 BMBWFMPDJEBEEFa TFBEB 5/$*䜝/ MJOEJDBEPS䳗䳗QBSQBEFBS䜫TJFYJTa UF VO QSPCMFNB DPO FM TJTUFNB EF DPOUSPMEFMM䜷NJUFEFWFMPDJEBE $POUJO䝄B $POUJO䝄B 4JPDVSSFFTUP TPMJDJUFMBDPNQSPCBa DJ䜽O EFM TJTUFNB FO VO UBMMFS QSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP $POEVDJSTVWFI䜷DVMP
- 309. ' '3/%%.3(/$*65䜝/0.%5*103%3 4*45䜋26*1%0 MTJTUFNB#TJSWFQBSBSFEVDJSPFWJa UBS MPTSJFTHPT EF BDDJEFOUF 3FDPOPDF MB EJTUBODJB BM WFI䜷DVMP RVF MP QSFDFEF NFEJBOUFMPTTFOTPSFT QFK SBEBS Z TJ FT OFDFTBSJP BEWJFSUF BM DPOEVDUPS EFMSJFTHPEFBDDJEFOUFDPOFMNFOTBKF EFBEWFSUFODJBPMBTBMBSNBTEFBEWFSa UFODJB P BDDJPOB MB GSFOBEB EF FNFSa HFODJB 䙓 M TJTUFNB # EF UJQP SBEBS OP GVODJPOB QBSB MPT QFBUPOFT RVF TF FODVFOUSBOEFMBOUFEFMWFI䜷DVMP %735/$* MVTBSMBGSFOBEBEFFNFSHFODJBBVa U䜽OPNB # UPNF MBT QSFDBVDJPa OFTTJHVJFOUFT 䳜 TUF FT 䝄OJDBNFOUF VO TJTUFNB DPNQMFNFOUBSJP Z OP JOUFOUB SFFNQMB[BS MB OFDFTJEBEFT EF DVJa EBEPZBUFODJ䜽OFYUSFNPTEFMDPOa EVDUPS M NBSHFO EF EFUFDDJ䜽O Z MPT PCKFUPT RVF EFUFDUBO MPT TFOa TPSFT TPO MJNJUBEPT 1SFTUF BUFOa DJ䜽OBMBTDPOEJDJPOFTEFMBDBSSFa UFSBFOUPEPNPNFOUP $POUJO䝄B $POUJO䝄B 䳜 /0 DPOEV[DB EFNBTJBEP S䜫QJEP TJ MBTDPOEJDJPOFTEFMBW䜷BOPMPQFSa NJUFOOJNJFOUSBTUPNBVOBDVSWB 䳜 $POEV[DBTJFNQSFDPODVJEBEPQBa SB FWJUBS RVF PDVSSBO TJUVBDJPOFT JOFTQFSBEBT P SFQFOUJOBT M # OP EFUJFOF FM WFI䜷DVMP DPNQMFUBa NFOUFZOPFWJUBDPMJTJPOFT $POGJHVSBDJ䜽OZBDUJWBDJ䜽OEFM TJTUFNB KVTUFEFMTJTUFNB M DPOEVDUPS QVFEF BDUJWBS FM TJTUFNB #DPMPDBOEPFMJOUFSSVQUPSEFFODFOa EJEP FO MB QPTJDJ䜽O 0/ Z TFMFDDJPOBOEP 6TFS 4FUUJOHT BKVTUFT EFM VTVBSJP %SJWJOHTTJTU BZVEBBMBDPOEVDDJ䜽O ZVUPOPNPVT#SBLJOH4ZTUFN TJTUFa NBEFGSFOBEBEFFNFSHFODJBBVU䜽OPa NB M#TFEFTBDUJWB TJFMDPOEVDa UPSDBODFMBFMBKVTUFEFMTJTUFNB MUFTUJHPEFBEWFSUFODJBTF JMVNJOBFOMBQBOUBMMB-$% TJ DBODFMBFMTJTUFNB# 4FJMVNJOBJODMVTPDPOMBEFTBDUJWBDJ䜽O EFMFTUBEPEFM4$ DPOUSPMEFFTUBa CJMJEBEFMFDUS䜽OJDB MDPOEVDUPSQVFEF TVQFSWJTBSFMFTUBEPEFBDUJWBa DJ䜽OEFTBDUJWBDJ䜽OEFMTJTUFNB# FOMBQBOUBMMB-$%$VBOEPFMUFTUJHP EFBEWFSUFODJBQFSNBOFDFFODFOEJEP DPOFM#BDUJWBEP TPMJDJUFMBDPNQSPa CBDJ䜽OEFMTJTUFNBFOVOUBMMFSQSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJa [BEP MDPOEVDUPSQVFEFTFMFDDJPOBSFMUJFNa QPEFBDUJWBDJ䜽OEFMBBEWFSUFODJBJOJDJBM FO6TFS4FUUJOHT BKVTUFTEFVTVBSJP Z %SJWJOH TTJTU BTJTUFODJB B MB DPOa EVDDJ䜽O FO MB QBOUBMMB -$% EFM UBCMFSP EF JOTUSVNFOUPT DPOUJOVBDJ䜽O TF QSPQPSDJPOBOMBTPQDJPOFTQBSBFMBWJTP EFDPMJTJ䜽OGSPOUBMJOJDJBM 䳜5.13a /0 4JTFTFMFDDJPOBFTUBPQa DJ䜽O FMBWJTPEFDPMJTJ䜽O GSPOUBMJOJDJBMTFBDUJWB BOUFTEFMPOPSNBM4JMB BEWFSUFODJB3-: UFNQSBOP QBSFDFTFS EFNBTJBEPTFOTJCMF D䜫Na CJFMBB/03.- OPSa NBM 4JFMWFI䜷DVMPRVFMP QSFDFEFTFEFUJFOFEF GPSNBJOFTQFSBEB MBBEa $POEVDJSTVWFI䜷DVMP
- 310. WFSUFODJBQPES䜷BQBSFDFS RVFTFFODJFOEFUBSEFJOa DMVTPDPOFMFTUBEP 3-: UFNQSBOP TFa MFDDJPOBEP 䳜/03.- 4JTFTFMFDDJPOBFTUBPQa DJ䜽OFMBWJTPEFDPMJTJ䜽O GSPOUBMJOJDJBMTFBDUJWB DPOOPSNBMJEBE 䳜53% 4JTFTFMFDDJPOBFTUBPQa DJ䜽O FMBWJTPEFDPMJTJ䜽O GSPOUBMJOJDJBMTFBDUJWB N䜫TUBSEFEFMPOPSNBM 4FMFDDJPOFFTUFFTUBEP TPMPDVBOEPFMUS䜫GJDPTFB GMVJEPZDPOEV[DBBQPDB WFMPDJEBE 3 3FRVJTJUPQSFWJPQBSBMBBDUJWBDJ䜽O M#TFQSFQBSBQBSBBDUJWBSTF DVBOa EPFMTJTUFNB#FTU䜫TFMFDDJPOBEPFO MBQBOUBMMB-$%ZDVBOEPTFDVNQMFOMPT SFRVJTJUPTQSFWJPTTJHVJFOUFT M4$FTU䜫BDUJWBEP -BWFMPDJEBEEFMWFI䜷DVMPFTTVQFSJPSB LNI 4JOFNCBSHP FM#TFBDa UJWBBEFUFSNJOBEBWFMPDJEBEEFDPOa EVDDJ䜽O MBIPSBEFSFDPOPDFSBMWFI䜷DVMPRVF DJSDVMB EFMBOUF 4JO FNCBSHP FM # OPTFBDUJWBTFH䝄OMBTDPOEJDJPOFTFO GSFOUFZMPTTJTUFNBTEFMWFI䜷DVMP TJa OP TJ BEWJFSUF EFUFSNJOBEBT BEWFSa UFODJBT %735/$* 䳜 MTJTUFNB#TFBDUJWBBVUPN䜫UJa DBNFOUF BM DPMPDBS FM JOUFSSVQUPS EFFODFOEJEPFOMBQPTJDJ䜽O0/M DPOEVDUPSQVFEFEFTBDUJWBSFMTJTa UFNB#NFEJBOUFMBDBODFMBDJ䜽O EFMBKVTUFEFMTJTUFNBFOMBQBOUBa MMB-$% 䳜 MTJTUFNB#TFEFTBDUJWBBVUPa N䜫UJDBNFOUFBMDBODFMBSFM4$ JOa DMVTPDPOFMTJTUFNB#BDUJWBEP ZFMDPOEVDUPSOPQPES䜫BDUJWBSFM #FOMBQBOUBMMB-$%OFTUFDBa TP FM UFTUJHP EF BEWFSUFODJB EF #TFJMVNJOB QFSPFTUPOPJOEJDB VOBBWFS䜷B 䳜 TUBCMF[DBPDBODFMFFM#DPOMPT JOUFSSVQUPSFT EF DPOUSPM FO FM WPa MBOUF USBT EFUFOFS FM WFI䜷DVMP FO VOMVHBSTFHVSP $POUSPMEFMTJTUFNBZNFOTBKF EFBEWFSUFODJBEF# M # FNJUF NFOTBKFT Z BMBSNBT EF BEWFSUFODJBTFH䝄OMPTOJWFMFTEFSJFTHP EFDPMJTJ䜽OFOTJUVBDJPOFTDPNPVOBGSFa OBEB SFQFOUJOB EFM WFI䜷DVMP EF EFMBOUF PQPDBEJTUBODJBEFTFHVSJEBEFOUSFMPT WFI䜷DVMPT 5BNCJ䜳O DPOUSPMB MPT GSFOPT FO GVODJ䜽O EF MPT OJWFMFT EF SJFTHP EF DPMJTJ䜽O 1SFDBVDJ䜽OBEFMBOUF 䛴 BEWFSUFODJB MNFOTBKFEFBEWFSUFODJBBQBSFDFFOMB QBOUBMMB-$%DPOMBTBMBSNBTEFBEWFSa UFODJB $POEVDJSTVWFI䜷DVMP
- 311. 1 1SFDBVDJ䜽ODPMJTJ䜽O 䛴 BEWFSUFODJB 䳜 MNFOTBKFEFBEWFSUFODJBBQBSFDFFO MBQBOUBMMB-$%DPOVOBBMBSNBEFBEa WFSUFODJB 䳜MWFI䜷DVMPSFEVDJS䜫MBWFMPDJEBEIBTUB VOM䜷NJUFEFUFSNJOBEP MGSFOPTFBDUJWBEFGPSNBHSBEVBM QBSBMPTWFI䜷DVMPTRVFMPQSFDFEFO MDPOUSPMEFMGSFOPTFBDUJWBEFOa USP EF VO M䜷NJUF FTUBCMFDJEP QBSB SFEVDJSFMJNQBDUPEFCJEPBVOBDPa MJTJ䜽O 'SFOBEPFNFSHFODJB 䛴 BEWFSUFODJB 䳜 MNFOTBKFEFBEWFSUFODJBBQBSFDFFO MBQBOUBMMB-$%DPOVOBBMBSNBEFBEa WFSUFODJB 䳜 MWFI䜷DVMPSFEVDJS䜫MBWFMPDJEBEIBTUB VOM䜷NJUFEFUFSNJOBEP MDPOUSPMEFMGSFOPTFBDUJWBEFOa USP EF VO M䜷NJUF FTUBCMFDJEP QBSB SFEVDJSFMJNQBDUPEFCJEPBVOBDPa MJTJ䜽O M DPOUSPM EFM GSFOP N䜫YJNP TFBDUJWBKVTUPBOUFTEFMBDPMJTJ䜽O 'VODJPOBNJFOUPEFMPTGSFOPT 䳜 O VOB TJUVBDJ䜽O EF FNFSHFODJB FM TJTUFNBEFGSFOBEPBDDFEFBMFTUBEP EFQSFQBSBDJ䜽OQBSBVOBSFBDDJ䜽OS䜫a QJEBQBSBRVFFMDPOEVDUPSOPQJTFFM QFEBMEFMGSFOP 䳜 M # QSPQPSDJPOB QPUFODJB EF GSFa OBEP BEJDJPOB QBSB VO SFOEJNJFOUP 䜽QUJNPEFMPTGSFOPT DVBOEPFMDPOa EVDUPSQJTBFMQFEBMEFMGSFOP 䳜 MDPOUSPMEFGSFOBEBTFEFTBDUJWBBVa UPN䜫UJDBNFOUF DVBOEP FM DPOEVDUPS QJTBCSVTDBNFOUFFMQFEBMEFBDFMFSBa DJ䜽OPDVBOEPFMDPOEVDUPSNVFWFEF SFQFOUFFMWPMBOUF 䳜 M DPOUSPM EFM GSFOP TF DBODFMB BVUPa N䜫UJDBNFOUF DVBOEP EFTBQBSFDFO MPTGBDUPSFTEFSJFTHP 5/$*䜝/ M DPOEVDUPS TJFNQSF EFCF QSFTUBS NVDIB BUFODJ䜽O BM GVODJPOBNJFOUP EFMWFI䜷DVMPBVORVFOPBQBSF[DBOJOa H䝄ONFOTBKFOJBMBSNBEFBEWFSUFOa DJB $POEVDJSTVWFI䜷DVMP
- 312. %735/$* M#OPQVFEFFWJUBSUPEBTMBTDPMJa TJPOFTTQPTJCMFRVFFM#OPEFa UFOHBDPNQMFUBNFOUFFMWFI䜷DVMPBOa UFTEFVOBDPMJTJ䜽O EFCJEPBMBTDPOa EJDJPOFT BNCJFOUBMFT NFUFPSPM䜽HJa DBT Z EF MB DBSSFUFSB M DPOEVDUPS UJFOF MB SFTQPOTBCJMJEBE EF DPOEVDJS DPOTFHVSJEBEZDPOUSPMBSFMWFI䜷DVMP %735/$* M # GVODJPOB EF BDVFSEP DPO MPT OJWFMFT EF SJFTHP DPNP MB EJTUBODJB BMWFI䜷DVMPRVFMPQSFDFEF MBWFMPDJa EBEEFMWFI䜷DVMPRVFMPQSFDFEFZFM BDDJPOBNJFOUPEFMWFI䜷DVMPQPSQBSUF EFMDPOEVDUPS 1BSB RVF FM TJTUFNB GVODJPOF OP DPOEV[DBEFGPSNBQFMJHSPTB 4FOTPSQBSBEFUFDUBSMB EJTUBODJBEFMWFI䜷DVMPRVFMP QSFDFEF SBEBSEFMBOUFSP MTFOTPSTJSWFQBSBNBOUFOFSVOBDJFSa UBEJTUBODJBDPOFMWFI䜷DVMPRVFMPQSFa DFEF4JOFNCBSHP TJFMTFOTPSFTU䜫TVa DJPBDBVTBEFMBQSFTFODJBEFDVFSQPT FYUSB䜻PT DPNP OJFWF Z MMVWJB FTUP BGFDUB OFHBUJWBNFOUF B TV SFOEJNJFOa UP 1PES䜷B JODMVTP DBODFMBS UFNQPSBMa NFOUFFM#.BOUFOHBTJFNQSFMJNQJP FMTFOTPS .FOTBKFEFBEWFSUFODJBZUFTUJHP EFBEWFSUFODJB 4J MB DVCJFSUB EFM TFOTPS FTU䜫 TVDJB B DBVTBEFMBQSFTFODJBEFDVFSQPTFYUSBa 䜻PT DPNP OJFWF P MMVWJB FM GVODJPOBa NJFOUPEFMTJTUFNBEFM#QPES䜷BEFa UFOFSTFEFGPSNBUFNQPSBMOFTUFDBa TP BQBSFDF FM NFOTBKF EF BEWFSUFODJB QBSBBEWFSUJSBMDPOEVDUPS /PTFUSBUBEFOJOH䝄OGBMMPEFGVODJPOBa NJFOUPEFM#1BSBWPMWFSBQPOFSFO GVODJPOBNJFOUP FM # FMJNJOF MPT DVFSQPTFYUSB䜻PT 4J FM TFOTPS FTU䜫 DPNQMFUBNFOUF TVDJP P OP EFUFDUB OJOH䝄O PCKFUP FO VO UFa SSFOP BCJFSUP FUD FM # QPES䜷B OP GVODJPOBSDPOOPSNBMJEBE $POEVDJSTVWFI䜷DVMP
- 313. / /05 䳜 /P DPMPRVFBDDFTPSJPT DPNP VOB NPMEVSBPVOBEIFTJWPQBSBMBNBa US䜷DVMB FOFM䜫SFBEFMTFOTPS5BNa QPDPSFFNQMBDFBSCJUSBSJBNFOUFFM QBSBDIPRVFT 1PES䜷BO BGFDUBS OFa HBUJWBNFOUFFMGVODJPOBNJFOUPEFM TFOTPS 䳜 .BOUFOHB TJFNQSF MJNQJB FM 䜫SFB EFMTFOTPSQBSBDIPRVFT 䳜 6UJMJDF 䝄OJDBNFOUF QB䜻PT TVBWFT QBSB MBWBS FM WFI䜷DVMP TJNJTNP UBNQPDP SPD䜷F FM TFOTPS JOTUBMBEP FOFMQBSBDIPRVFTDPOBHVBBNVa DIBQSFTJ䜽O $POUJO䝄B $POUJO䝄B 䳜 5FOHB DVJEBEP EF OP FKFSDFS VOB GVFS[B JOOFDFTBSJB FO FM 䜫SFB EFM TFOTPS EFMBOUFSP 4J FM TFOTPS TF EFTQMB[B EF MB QPTJDJ䜽O DPSSFDUB EFCJEP B VOB GVFS[B FYUFSOB FM TJTUFNB QPES䜷B EFKBS EF GVODJPOBS DPO OPSNBMJEBE BVORVF OP TF FOa DJFOEBFMUFTUJHPEFBEWFSUFODJBOJ BQBSF[DBVONFOTBKFOFTUFDBa TP MMFWFFMWFI䜷DVMPBVOUBMMFSQSPa GFTJPOBM QBSB RVF MP JOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 䳜 6UJMJDF T䜽MP MB DVCJFSUB PSJHJOBM ,JB EFM TFOTPS /P BQMJRVF BSCJUSBSJBa NFOUF QJOUVSB FO MB DVCJFSUB EFM TFOTPS 䳜 /PFYUSBJHBEFGPSNBBSCJUSBSJBMPT DPNQPOFOUFT EFM SBEBS OJ MPT TPa NFUBBJNQBDUPT 䳜 4JFMWPMVNFOEFMTJTUFNBEFBVEJP FT EFNBTJBEP FMFWBEP FT QPTJCMF RVFOPPJHBMBBMBSNBEFBEWFSUFOa DJBEFMTJTUFNB# 'BMMPEFMTJTUFNB 䳜 4JFMTJTUFNB#OPGVODJPOBDPSSFDa UBNFOUF FMUFTUJHPEFBEWFSUFODJBEF # TFJMVNJOBS䜫ZFMNFOTBKFEF BEWFSUFODJB BQBSFDFS䜫 EVSBOUF VOPT TFHVOEPT $VBOEP FM NFOTBKF EFTBa QBSFDF FM UFTUJHP EF BEWFSUFODJB NBFTUSP TFJMVNJOBOFTUFDBa TP MMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFa TJPOBM QBSB RVF MP JOTQFDDJPOFO ,JB SFDPNJFOEBWJTJUBSVODFOUSPEFTFSa WJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 T QPTJCMF RVF BQBSF[DB FM NFOTBKF EF BEWFSUFODJB EF # KVOUP DPO MB JMVNJOBDJ䜽OEFMUFTUJHPEFBEWFSUFODJB EF4$ $POEVDJSTVWFI䜷DVMP
- 314. %735/$* 䳜 M #FT 䝄OJDBNFOUF VO TJTUFNB BEJDJPOBM QBSB MB DPNPEJEBE EFM DPOEVDUPSMDPOEVDUPSFTSFTQPOa TBCMF EF DPOUSPMBS FM GVODJPOBa NJFOUP EFM WFI䜷DVMP /P EFQFOEB 䝄OJDBNFOUFEFMTJTUFNB#.BOa UFOHB MB EJTUBODJB EF TFHVSJEBE Z TJ FT OFDFTBSJP QJTF FM QFEBM EFM GSFOP QBSB SFEVDJS MB WFMPDJEBE EF DPOEVDDJ䜽O 䳜 TQPTJCMFRVFFM#FNJUBEFGPSa NB JOOFDFTBSJB FM NFOTBKF EF BEa WFSUFODJB Z MBT BMBSNBT EF BEWFSa UFODJBTJNJTNP EFCJEPBMBMJNJa UBDJ䜽O FO MB EFUFDDJ䜽O FT QPTJCMF RVFFM#OPFNJUBOJOH䝄ONFOa TBKFOJBMBSNBEFBEWFSUFODJB 䳜 4JFM#FTU䜫BWFSJBEP FMDPOUSPM EFMGSFOPOPTFBDDJPOBBMEFUFDUBS VOSJFTHPEFDPMJTJ䜽OBVORVFFMSFTa UPEFTJTUFNBTEFGSFOBEPGVODJPa OFODPOOPSNBMJEBE $POUJO䝄B $POUJO䝄B 䳜 M # TF BDUJWB 䝄OJDBNFOUF DPO MPT WFI䜷DVMPT RVF MP QSFDFEFO NJFOUSBT TF EFTQMB[B IBDJB EFMBOa UF/PTFBDUJWBS䜫DPOMPTBOJNBMFT PWFI䜷DVMPTRVFDJSDVMFOFOTFOUJEP DPOUSBSJP 䳜 M#OPSFDPOPDFFMWFI䜷DVMP RVF DJSDVMB IPSJ[POUBMNFOUF B USBW䜳T EFVODSVDFPFMWFI䜷DVMPRVFFTU䜫 FTUBDJPOBEP FO EJSFDDJ䜽O IPSJ[POa UBM 䳜 4JFMWFI䜷DVMPRVFMPQSFDFEFTFEFa UJFOF EF GPSNB JOFTQFSBEB FYJTUF FM SJFTHP EF RVF TF QSPEV[DB VOB DPMJTJ䜽OMDPOEVDUPSTJFNQSFEFCF QSFTUBSBUFODJ䜽OFODBTPEFTJUVBa DJPOFTQFMJHSPTBT 䳜 O DBTP EF GSFOBEP JOFTQFSBEP DVBOEP FM # FTU䜫 BDUJWBEP MPT PCKFUPTEFMJOUFSJPSEFMWFI䜷DVMPTF QPES䜷BO EFTQMB[BS Z DBVTBS MFTJPa OFTBMPTPDVQBOUFT 䳜 $VBOEP FM DPOEVDUPS QJTB FM GSFOP TJFYJTUFSJFTHPEFRVFTFQSPEV[DB VOBDPMJTJ䜽O FMTJTUFNB#QPES䜷B OPGVODJPOBS $POUJO䝄B $POUJO䝄B 䳜 M#QPES䜷BOPGVODJPOBSEFCJEP B MBT DPOEJDJPOFT EF MB DPOEVDDJ䜽O PEFMUS䜫GJDP EFMUJFNQPPEFMFTUBa EPEFMBDBSSFUFSB 䳜 M # QPES䜷B OP GVODJPOBS FO UPa EPTMPTWFI䜷DVMPT -JNJUBDJ䜽OEFMTJTUFNB M#FTVOTJTUFNBEFBTJTUFODJBQBSB FMDPOEVDUPSFOEFUFSNJOBEBTDPOEJDJPa OFT EF DPOEVDDJ䜽O QFMJHSPTBT Z OP FT SFTQPOTBCMF EF OJOHVOP EF MPT SJFTHPT BTPDJBEPTBMBDPOEVDDJ䜽O M TJTUFNB # TVQFSWJTB MBT TJUVBDJPa OFT EF DPOEVDDJ䜽O NFEJBOUF FM SBEBS 1PSMPUBOUP FOVOBTJUVBDJ䜽OGVFSBEFM SBOHPEFEFUFDDJ䜽O FMTJTUFNB#QPa ES䜷B OP GVODJPOBS DPO OPSNBMJEBE M DPOEVDUPSEFCFQSFTUBSNVDIBBUFODJ䜽O FOMBTTJUVBDJPOFTTJHVJFOUFTMGVODJPa OBNJFOUPEFMTJTUFNB#QPES䜷BTFSMJa NJUBEP 3FDPOPDJNJFOUPEFWFI䜷DVMPT MTFOTPSPMBDVCJFSUBEFMTFOTPSFTa U䜫ODPOUBNJOBEPTDPOTVTUBODJBTFYa USB䜻BT -MVFWFPOJFWBNVDIP $POEVDJSTVWFI䜷DVMP
- 315. 4F QSPEVDFO JOUFSSVQDJPOFTB DBVTB EFMBTPOEBTFM䜳DUSJDBT )BZ SFGMFKPT JSSFHVMBSFT GVFSUFT EFM SBEBS M WFI䜷DVMP RVF MP QSFDFEF UJFOF VOB DBSSPDFS䜷BFTUSFDIB QFK VOBNPUPa DJDMFUB OMBTTJUVBDJPOFT FOMBTRVFIBZVO SFGMFKP EFM SBEBS JNQPSUBOUF FM # QPES䜷B OP GVODJPOBS DPO OPSNBMJEBE BQBSDBNJFOUP QVFOUFEFIJFSSP FUD -PT WFI䜷DVMPT FTQFDJBMFT BVUPCVTFT DBNJPOFT WFI䜷DVMPT EF DPOTUSVDDJ䜽O SFNPMRVFT FUD FOMPTRVFMPTSBEBa SFT TPO EJG䜷DJMFT EF EFUFDUBS FM # QPES䜷BOPGVODJPOBSDPOOPSNBMJEBE MWFI䜷DVMPRVFMPQSFDFEFFTVOWFI䜷a DVMP FTQFDJBM DPNP VO DBNJ䜽O RVF USBOTQPSUBNVDIBDBSHBPVOSFNPMa RVF -BDPOEVDDJ䜽OEFMWFI䜷DVMPFTJOFTUBa CMF M SFDPOPDJNJFOUP EFM TFOTPS EFM SBa EBSFTMJNJUBEP M DPOEVDJS QPS TVQFSGJDJFT EF MB DBMa [BEB JSSFHVMBSFT P TJO QBWJNFOUBS P FODBNCJPTEFHSBEJFOUFJOFTQFSBEPT O[POBTFODPOTUSVDDJ䜽OPFOMBTW䜷BT EFMGFSSPDBSSJMPDPOPCKFUPTNFU䜫MJDPT FOMBDBSSFUFSB MDPOEVDJSQPS[POBTJOUFSJPSFTDPNP VOHBSBKFTVCUFSS䜫OFP M DPOEVDJS QPS VO HBSBKF TVCUFSS䜫a OFP MBDDFEFSBVOU䝄OFMPQFBKF )BZNBUFSJBMFTRVFSFGMFKBOG䜫DJMNFOa UF MBT TF䜻BMFT EFM SBEBS CBSBOEJMMBT QSPUFDUPSBT WFI䜷DVMPT RVF TF BDFSa DBO FUD $POEVDJSFODVSWBT M SFOEJNJFOUP EFM # EJTNJOVZF BM DPOEVDJSQPSVOBDVSWBM#QVFEF RVF OP SFDPOP[DB FM WFI䜷DVMP RVF MP QSFDFEF JODMVTP TJ DJSDVMB QPS FM NJTa NPDBSSJMTQPTJCMFRVFTFFNJUBJOa OFDFTBSJBNFOUF VO NFOTBKF EF BEa WFSUFODJBZVOBBMBSNBEFBEWFSUFOa DJBPRVFOPTFFNJUBOJOH䝄ONFOTBKF OJBMBSNBEFBEWFSUFODJB MDPOEVDJSQPSVOBDVSWB QSFTUFNVa DIB BUFODJ䜽O Z TJ FT OFDFTBSJP QJTF FMQFEBMEFMGSFOP MDPOEVDJSQPSVOBDVSWB FM#QPa ES䜷BEFUFDUBSFMWFI䜷DVMPRVFMPQSFDFa EF FO FM DBSSJM EFMJNJUBEPS TJHVJFOUF 1SFTUFNVDIBBUFODJ䜽O Z TJFTOFDFa TBSJP QJTFFMQFEBMEFMGSFOP 0 QJTF FM QFEBM EFM BDFMFSBEPS QBSB NBOUFOFSMBWFMPDJEBEEFDPOEVDDJ䜽O $PNQSVFCF TJFNQSF MPT BMSFEFEPSFT EFMWFI䜷DVMPQBSBHBSBOUJ[BSMBTFHVSJa EBE $POEVDJSTVWFI䜷DVMP
- 316. $POEVDJSFOQFOEJFOUFT M SFOEJNJFOUP EFMTJTUFNB # EJTa NJOVZFBMDPOEVDJSQPSVOBQFOEJFOUF BTDFOEFOUF P EFTDFOEFOUF TJO SFDPa OPDFS FM WFI䜷DVMP RVF DJSDVMB EFMBOUF FOFMNJTNPDBSSJMTQPTJCMFRVFTF FNJUB JOOFDFTBSJBNFOUF VO NFOTBKF EF BEWFSUFODJB Z VOB BMBSNB EF BEa WFSUFODJB P RVF OP TF FNJUB OJOH䝄O NFOTBKFOJBMBSNBEFBEWFSUFODJB $VBOEP FM TJTUFNB # SFDPOPDF EF SFQFOUFFMWFI䜷DVMPRVFDJSDVMBEFMBOa UFNJFOUSBTQBTBQPSVOBQFOEJFOUF FTQPTJCMFRVFFYQFSJNFOUFVOBEFTBa DFMFSBDJ䜽OCSVTDB .JSFTJFNQSFIBDJBEFMBOUFBMDPOEVa DJS QPS VOB QFOEJFOUF BTDFOEFOUF P EFTDFOEFOUF Z TJ FT OFDFTBSJP QJTF FMQFEBMEFMGSFOP $BNCJBSEFDBSSJM VORVFFMWFI䜷DVMPFOFMDBSSJMTJHVJFOa UFBDDFEBBTVDBSSJM FTQPTJCMFRVFFM TJTUFNB # OP EFUFDUF FM WFI䜷DVMP IBTUBRVFFOUSFFOFMNBSHFOEFEFa UFDDJ䜽OEFMTJTUFNB# OQBSUJDVMBS TJFMWFI䜷DVMPFOFMDBSSJM TJHVJFOUFBDDFEFEFGPSNBJOFTQFSBEB FO TV DBSSJM FT N䜫T QSPCBCMF RVF FM TJTUFNBOPMPEFUFDUF1SFTUFTJFNQSF NVDIBBUFODJ䜽O 4JFMWFI䜷DVMPQBSBEPEFMBOUFEFMTVZP TBMFEFMDBSSJM FTQPTJCMFRVFFMTJTUFa NB#OPMPEFUFDUF1SFTUFTJFNQSF NVDIBBUFODJ䜽O $POEVDJSTVWFI䜷DVMP
- 317. 3FDPOPDJNJFOUPEFWFI䜷DVMPT 4JFMWFI䜷DVMPRVFMPQSFDFEFUSBOTQPSa UBVOBDBSHBQFTBEBRVFTFFYUJFOEF IBDJB BUS䜫T PTF DBSBDUFSJ[B QPS VOB NBZPS IPMHVSB DPO FM TVFMP QPES䜷B QSPEVDJSTFVOBTJUVBDJ䜽OQFMJHSPTB %735/$* 䳜 $BODFMF FM TJTUFNB # FO MPT KVTUFT EF VTVBSJP EF MB QBOUBMMB -$% BOUFT EF SFNPMDBS PUSP WFI䜷a DVMP %VSBOUF FM SFNPMDBEP FM BDa DJPOBNJFOUP EF MPT GSFOPT QVFEF BGFDUBSOFHBUJWBNFOUFBMBTFHVSJa EBEEFTVWFI䜷DVMP 䳜 1SFTUFNVDIBBUFODJ䜽OBMWFI䜷DVMP RVFMPQSFDFEF DVBOEPUSBOTQPSUB VOBDBSHBQFTBEBRVFTFFYUJFOEF IBDJB BUS䜫T P TF DBSBDUFSJ[B QPS VOBNBZPSEJTUBODJBBMTVFMP 䳜 M TFOTPS TPMP EFUFDUB WFI䜷DVMPT Z OP EFUFDUB DBSSFUBT CJDJDMFUBT NPUPDJDMFUBT CPMTBTEFFRVJQBKFOJ DPDIFDJUPTEFCFC䜳T $POUJO䝄B $POUJO䝄B 䳜 M # OP GVODJPOB FO VOB EFUFSa NJOBEB TJUVBDJ䜽O 1PS MP UBOUP OP DPNQSVFCFOVODBFMGVODJPOBNJFOa UPEFM#DPOVOWFI䜷DVMPVPCKFa UP1PES䜷BDBVTBSMFTJPOFTHSBWFTF JODMVTPNPSUBMFT /05 MTJTUFNBTFQPES䜷BDBODFMBSEFGPSa NBUFNQPSBMEFCJEPBGVFSUFTPOEBT FM䜳DUSJDBT $POEVDJSTVWFI䜷DVMP
- 318. ' '6/$*0/.*/50$0/䜝.*$0 MBIPSSPEFDPNCVTUJCMFEFTVWFI䜷DVMP EFQFOEF FONBZPSQBSUF EFTVGPSNB EFDPOEVDJSQPSEPOEFDPOEVDFZDV䜫Oa EP $BEB VOP EF FTPT GBDUPSFT BGFDUB B MB DBOUJEBEEFLJM䜽NFUSPTRVFQVFEFSFDPa SSFS DPO VO MJUSP EF DPNCVTUJCMF 1BSB NBOFKBS TV WFI䜷DVMP EF MB GPSNB N䜫T FDPO䜽NJDB QPTJCMF TJHB MPT TJHVJFOUFT DPOTFKPTEFDPOEVDDJ䜽OQBSBBIPSSBSEJa OFSPFOFMDPNCVTUJCMFZSFQBSBDJPOFT 䳜 $POEV[DBTJODBNCJPTCSVTDPTDFMFa SF EF GPSNB NPEFSBEB /P BSSBORVF BUPEBWFMPDJEBEZSFQFOUJOBNFOUFFM WFI䜷DVMPZNBOUFOHBVOBWFMPDJEBEEF DSVDFSPDPOTUBOUF/PDPOEV[DBBUPa EBWFMPDJEBEFOUSFTFN䜫GPSPT*OUFOUF BKVTUBSMBWFMPDJEBEBMUS䜫GJDPEFMBW䜷B QBSB OP UFOFS RVF DBNCJBS MB WFMPDJa EBEJOOFDFTBSJBNFOUFWJUFFMUS䜫GJDP QFTBEPTJFNQSFRVFTFBQPTJCMF .BOUFOHBTJFNQSFMBEJTUBODJBEFTFa HVSJEBEDPOSFTQFDUPBMPTEFN䜫TWFa I䜷DVMPT QBSB FWJUBS GSFOBEBT JOOFDFa TBSJBTMMPQSPWPDBS䜷BVOEFTHBTUFJOa OFDFTBSJP 䳜 $POEV[DB B VOB WFMPDJEBE DPOTUBOUF $VBOUP NBZPS TFB MB WFMPDJEBE N䜫T DPNCVTUJCMFVUJMJ[BFMWFI䜷DVMP$POEVa DJS B VOB WFMPDJEBE NPEFSBEB TPCSF UPEPFOBVUPQJTUBT FTVOBEFMBTNBa OFSBT N䜫T FGFDUJWBT QBSB SFEVDJS FM DPOTVNPEFDPNCVTUJCMF 䳜 /PTFBQPZFFOFMQFEBMEFMGSFOP TUF DPNQPSUBNJFOUP QVFEF JODSFa NFOUBSFMDPOTVNPEFDPNCVTUJCMFP FM EFTHBTUF EF MBT QJF[BT EFN䜫T DPOEVDJS DPO FM QJF TPCSF FM QFEBM EF GSFOP QVFEF QSPWPDBS RVF MPT GSFOPT TFSFDBMJFOUFOMPRVFQVFEFPDBTJPOBS RVF QJFSEBO TV FGJDBDJB Z QPS UBOUP FTUP PDBTJPOBS DPOTFDVFODJBT N䜫T HSBWFT 䳜 $VJEF EF MPT OFVN䜫UJDPT .BOU䜳OHBa MPT JOGMBEPT DPO MB QSFTJ䜽O SFDPNFOa EBEB 6O JOGMBEP JODPSSFDUP TFB FO FYDFTPPMPDPOUSBSJP DPOMMFWBVOEFTa HBTUF JOOFDFTBSJP EF MPT OFVN䜫UJDPT $PNQSVFCFMBTQSFTJPOFTEFMPTOFVa N䜫UJDPT BMNFOPT VOBWF[BMNFT 䳜 $PNQSVFCFRVFMBTSVFEBTFTU䜫OBMJa OFBEBTEFGPSNBDPSSFDUB'SFOBSEF GPSNB CSVTDB P DPOEVDJS EFNBTJBEP S䜫QJEPFOTVQFSGJDJFTJSSFHVMBSFTQVFa EF MMFHBS B EFTBMJOFBS MBT SVFEBT 6O BMJOFBNJFOUPJODPSSFDUPEFTHBTUBBOa UFTMPTOFVN䜫UJDPTZQVFEFQSPWPDBS PUSPT JODPOWFOJFOUFT BT䜷 DPNP VO NBZPSDPOTVNPEFDPNCVTUJCMF 䳜 .BOUFOHB FM DPDIF FO CVFO FTUBEP 1BSBVONFOPSDPOTVNPEFDPNCVTa UJCMF Z NFOPSFT DPTUFT EF NBOUFOJa NJFOUP NBOUFOHB TV WFI䜷DVMP EF BDVFSEPDPOFMQSPHSBNBEFNBOUFOJa NJFOUP EFTDSJUP FO 䳖.BOUFOJNJFOUP䳗 FO MB Q䜫HJOB 4J DPOEVDF FM WFa I䜷DVMP FO DPOEJDJPOFT EJG䜷DJMFT FT OFa DFTBSJP VO NBOUFOJNJFOUP N䜫T GSFa DVFOUF DPOTVMUF䳖.BOUFOJNJFOUP䳗FO MBQ䜫HJOBQBSBPCUFOFSN䜫TJOa GPSNBDJ䜽O 䳜 .BOUFOHBFMDPDIFMJNQJP1BSBMPHSBS VON䜫YJNPTFSWJDJP NBOUFOHBFMDPa DIFMJNQJPZMJCSFEFNBUFSJBMFTDPSSPa TJWPTTJNQPSUBOUF TPCSFUPEP RVF FMCBSSP MBTVDJFEBE FMIJFMP FUD OP TFBDVNVMFOFOMPTCBKPTEFMWFI䜷DVMP TUF QFTP FYUSB QVFEF QSPWPDBS VO BVNFOUPEFDPOTVNPEFDPNCVTUJCMF ZDPOUSJCVJSBMBDPSSPTJ䜽O $POEVDJSTVWFI䜷DVMP
- 319. 䳜 7JBKF DPOQPDP QFTP /P MMFWF QFTPT JOOFDFTBSJPT FO FM DPDIF M QFTP SFa EVDFFMBIPSSPEFDPNCVTUJCMF 䳜 /PEFKFFMNPUPSFOSBMFOU䜷N䜫TUJFNa QP EFM OFDFTBSJP 4J FTU䜫 FTQFSBOEP QFSPOPFOVOBDBSBWBOBEFDPDIFT BQBHVF FM NPUPS Z FODJ䜳OEBMP TPMP DVBOEPFTU䜳MJTUPQBSBNBSDIBSTF 䳜 3FDVFSEFRVFTVWFI䜷DVMPOPSFRVJFSF VO DBMFOUBNJFOUP FYUFOTP %FTQV䜳T EFBSSBODBSFMNPUPS E䜳KFMPFONBSa DIBFOUSFZTFHVOEPTBOUFTEF TFMFDDJPOBSVOBNBSDIB4JOFNCBSHP FO DPOEJDJPOFT BNCJFOUBMFT NVZ GS䜷BT E䜳KFMP FO NBSDIB EVSBOUF BMHP N䜫TEFUJFNQPQBSBRVFTFDBMJFOUF 䳜 /PDBSHVFFMNPUPSOJMPTPCSFSSFa WPMVDJPOF$BSHBSFMNPUPSFTDPOEVa DJSEFNBTJBEPEFTQBDJPDPOVOBNBSa DIBBMUBMPRVFQSPWPDBTBDVEJEBTFO FMNPUPS4JFTUPPDVSSF DBNCJFBVOB NBSDIB N䜫T DPSUB 4PCSFSSFWPMVDJPa OBSFMNPUPSFTIBDFSHJSBSFMNPUPS N䜫TBMM䜫EFTVTM䜷NJUFTEFTFHVSJEBE TUPTFQVFEFFWJUBSDBNCJBOEPBMBT WFMPDJEBESFDPNFOEBEBT 䳜 6UJMJDF FM BJSF BDPOEJDJPOBEP DPO NPa EFSBDJ䜽OMTJTUFNBEFBJSFBDPOEJDJPa OBEP GVODJPOB QPS NFEJBDJ䜽O EF MB QPUFODJBEFMNPUPS QPSFMMPFMBIPSSP EF DPNCVTUJCMF TF SFEVDF DVBOEP TF FODJFOEF 䳜 $POEVDJSBHSBOWFMPDJEBEDPOMBTWFOa UBOBT BCJFSUBT QVFEF SFEVDJS FM BIPa SSPEFDPNCVTUJCMF 䳜 M BIPSSP EF DPNCVTUJCMF FT NFOPS DVBOEPTFDPOEVDFDPOWJFOUPEFDPTa UBEPZWJFOUPEFGSFOUF1BSBBZVEBS BDPNQFOTBSFTUBQ䜳SEJEB SFEV[DBMB WFMPDJEBE DPO FTUBT DPOEJDJPOFT BEa WFSTBT .BOUFOFSFMWFI䜷DVMPFOCVFOFTUBEPEF GVODJPOBNJFOUP FT JNQPSUBOUF QBSB FM BIPSSPZMBTFHVSJEBE1PSMPUBOUP TPMJa DJUF FM NBOUFOJNJFOUP EFM TJTUFNB FO VOUBMMFSQSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* .PUPSBQBHBEPNJFOUSBTFMDPa DIFFTU䜫FONPWJNJFOUP $POUJO䝄B $POUJO䝄B /VODB BQBHVF FM NPUPS QBSB CBKBS QFOEJFOUFTPNJFOUSBTFMWFI䜷DVMPFTa U䜳FONPWJNJFOUP-BEJSFDDJ䜽OBTJTa UJEBZMPTGSFOPTBTJTUJEPTOPGVODJPa OBS䜫O CJFO TJO FM NPUPS FO NBSDIB OMVHBSEFFMMP NBOUFOHBFMNPUPS FO NBSDIB Z DBNCJF B VOB NBSDIB BEFDVBEBQBSBDPOTFHVJSFMFGFDUPEF GSFOP EFM NPUPS EFN䜫T BQBHBS FM NPUPSNJFOUSBTDPOEVDFQPES䜷BCMPa RVFBS FM WPMBOUF EF EJSFDDJ䜽O Z QPS UBOUP QFSEFSFMDPOUSPMEFMNJTNPMP RVF QSPWPDBS䜷B MFTJPOFT HSBWFT P MB NVFSUF $POEVDJSTVWFI䜷DVMP
- 320. $ $0/%*$*0/441$*-4%$0/%6$$*䜝/ $POEJDJPOFTEFDPOEVDDJ䜽O QFMJHSPTBT $VBOEPTFFODVFOUSFFODPOEJDJPOFTEF DPOEVDDJ䜽O QFMJHSPTBT DPNPBHVB OJFa WF CBSSP BSFOBPSJFTHPTTJNJMBSFT TJHB MPTTJHVJFOUFTDPOTFKPT 䳜 $POEV[DB DPO NVDIP DVJEBEP Z SFa DVFSEFRVFTFOFDFTJUBS䜫VOBEJTUBOa DJBEFGSFOBEPN䜫TMBSHB 䳜 WJUF GSFOBS CSVTDBNFOUF P EBS WPa MBOUB[PT 䳜 $VBOEP GSFOF TJO #4 QJTF FM QFEBM EFM GSFOP TVBWFNFOUF Z EF NBOFSB JOUFSNJUFOUFIBTUBRVFFMWFI䜷DVMPTF EFUFOHB %735/$* #4 /P CPNCFF FM QFEBM EF GSFOP FO VO WFI䜷DVMPFRVJQBEPDPO#4 䳜 4JFMNPUPSTFDBMBDPOOJFWF CBSSPP BSFOB VUJMJDFMBTFHVOEBNBSDIBDFa MFSFEFTQBDJPQBSBFWJUBSRVFMBTSVFa EBTNPUSJDFTSPUFO 䳜 NQMFF BSFOB TBM EF SPDB DBEFOBT QBSBMPTOFVN䜫UJDPTVPUSPTNBUFSJBa MFTBOUJEFTMJ[BOUFTFOMBTSVFEBTNPa USJDFTQBSBQSPQPSDJPOBSNBZPSUSBDa DJ䜽OFODBTPEFOJFWF IJFMPPCBSSP %735/$* 3FEVDDJ䜽OEFMBNBSDIB 3FEVDJSMBNBSDIBDPOVOBUSBOTNJa TJ䜽OBVUPN䜫UJDBNJFOUSBTTFDPOEVa DF TPCSF VOB TVQFSGJDJF EFTMJ[BOUF QPES䜷B QSPWPDBS VO BDDJEFOUF M DBNCJPSFQFOUJOPEFWFMPDJEBEFOMBT SVFEBTQVFEFIBDFSRVFMPTOFVN䜫UJa DPTQBUJOFO5FOHBDVJEBEPBMSFEVDJS EF NBSDIB FO TVQFSGJDJFT SFTCBMBEJa [BT #BMBODFBSFMWFI䜷DVMP 4JFTOFDFTBSJPCBMBODFBSFMWFI䜷DVMPQBa SBMJCFSBSMPEFMBOJFWF MBBSFOBPFMCBa SSP QSJNFSPHJSFFMWPMBOUFBMBEFSFDIB ZBMBJ[RVJFSEBQBSBMJCFSBSMB[POBBMa SFEFEPSEFMBTSVFEBTEFMBOUFSBT$VBOa EPDBNCJBEFBEFMBOUFZBUS䜫TFOUSFMB 䛴 QSJNFSB Z3 NBSDIBBUS䜫T FOVO WFI䜷DVMPFRVJQBEPDPOUSBOTNJTJ䜽ONBa OVBM P DBNCJBS EF 3 NBSDIB BUS䜫T Z DVBMRVJFSB EF MBT NBSDIBT BEFMBOUF FO MPTWFI䜷DVMPTFRVJQBEPTDPOUSBOTNJTJ䜽O BVUPN䜫UJDB /P SFWPMVDJPOF FM NPUPS B GPOEPFJOUFOUFRVFMBTSVFEBTQBUJOFO MPNFOPTQPTJCMF4JUPEBW䜷BFTU䜫BUSBa QBEPEFTQV䜳TEFWBSJPTJOUFOUPT VUJMJDF PUSP WFI䜷DVMP QBSB SFNPMDBS FM TVZP F JNQFEJS FM TPCSFDBMFOUBNJFOUP V PUSPT EB䜻PTBMBUSBOTNJTJ䜽O 5/$*䜝/ 6O CBMBODFP QSPMPHBOEP QVFEF DBVa TBSFMTPCSFDBMFOUBNJFOUPEFMNPUPS EB䜻PT P GBMMPT FO MB USBOTNJTJ䜽O Z EB䜻PTFOMPTOFVN䜫UJDPT $POEVDJSTVWFI䜷DVMP
- 321. %735/$* 1BUJOBEPEFSVFEBT /PIBHBQBUJOBSMBTSVFEBT FTQFDJBMa NFOUFB WFMPDJEBEFT TVQFSJPSFT B LNI)BDFSQBUJOBSMBTSVFEBTB WFMPDJEBEFT BMUBT DVBOEP FM WFI䜷DVMP FTU䜫EFUFOJEPQPES䜷BTPCSFDBMFOUBSFM OFVN䜫UJDPZEB䜻BSMPZ BMBWF[ IFSJS BMPTUSBOTF䝄OUFT /05 QBHVF QSJNFSP FM TJTUFNB 4$ TJ FTU䜫FRVJQBEP BOUFTEFCBMBODFBSFM WFI䜷DVMP %735/$* 4JTVWFI䜷DVMPTFFODBMMBFOOJFWF CBa SSP BSFOB FUD QVFEFJOUFOUBSMJCFa SBSFMNJTNPNFEJBOUFVONPWJNJFOa UP EF WBJW䜳O DPOEVDJFOEP IBDJB EFa MBOUFZIBDJBBUS䜫T/PJOUFOUFSFBMJa [BS FTUF QSPDFTP TJ TF FODVFOUSBO QFSTPOBTVPCKFUPTDFSDBEFMWFI䜷DVa $POUJO䝄B $POUJO䝄B MP%VSBOUFFMNPWJNJFOUPEFWBJW䜳O FM WFI䜷DVMP QPES䜷B NPWFSTF CSVTDBa NFOUFIBDJBEFMBOUFPIBDJBBUS䜫TBM MJCFSBSTFZQSPEVDJSMFTJPOFTPEB䜻PT BMBTQFSTPOBTVPCKFUPTDFSDBOPT 5PNBSDVSWBTEFNBOFSBTVBWF WJUFGSFOBSPDBNCJBSMBNBSDIBFOMBT DVSWBT TPCSF UPEP TJ MB DBSSFUFSB FTU䜫 NPKBEB-PJEFBFTUPNBSMBDVSWBTJFNa QSFDPOVOBBDFMFSBDJ䜽ONPEFSBEB4JHB MPT TJHVJFOUF DPOTFKPT QBSB FWJUBS BM N䜫YJNPFMEFTHBTUFEFMOFVN䜫UJDP $POEVDDJ䜽OQPSMBOPDIF O MB DPOEVDDJ䜽O OPDUVSOB TJFNQSF FYJTUFO N䜫T QFMJHSPT RVF MB EJBSJB QPS FMMP FT JNQPSUBOUF SFDPSEBS BMHVOPT DPOTFKPT 䳜 3FEV[DBMBWFMPDJEBEZNBOUFOHBVOB EJTUBODJBEFTFHVSJEBENBZPSDPOMPT EFN䜫TWFI䜷DVMPT ZBRVFFTN䜫TEJG䜷DJM WFSQPSMBOPDIF TPCSFUPEPFO[POBT EPOEFOPIBZMVDFTFOMBDBSSFUFSB 䳜 KVTUFMPTSFUSPWJTPSFTQBSBSFEVDJSFM EFTMVNCSBNJFOUP EF MPT GBSPT EF MPT EFN䜫TWFI䜷DVMPT $POEVDJSTVWFI䜷DVMP
- 322. 䳜 .BOUFOHB MPTGBSPT MJNQJPT Z CJFO PSJFOUBEPT TPCSFUPEPFOMPTWFI䜷DVa MPTRVFOPFTU䜫OFRVJQBEPTDPOFMSFa HMBKFEFMGBSPBVUPN䜫UJDP6OPTGBSPT TVDJPTPNBMPSJFOUBEPTEJGJDVMUBS䜫OMB WJTJCJMJEBEQPSMBOPDIF 䳜 WJUFNJSBSEJSFDUBNFOUFMBTMVDFTEF MPTWFI䜷DVMPTRVFWJFOFOEFGSFOUF-F QPES䜷BO DFHBS UFNQPSBMNFOUF Z TVT PKPT UBSEBS䜷BO VO QBS EF TFHVOEPT QBSBWPMWFSBBDPTUVNCSBSTFBMBPTa DVSJEBE $ $POEVDDJ䜽ODPOMMVWJB -BT DBSSFUFSBT NPKBEBT QVFEFO QSPWPa DBSRVFMBDPOEVDDJ䜽OTFBQFMJHSPTB TPa CSF UPEP TJ OP FTU䜫 QSFQBSBEP QBSB VO QBWJNFOUPEFTMJ[BOUFDPOUJOVBDJ䜽O MF TVHFSJNPTVOBTFSJFEFDPOTFKPTRVFTF EFCFOUFOFSFODVFOUB 䳜 6OBHVBDFSPBCVOEBOUFJNQFEJS䜫VOB CVFOBWJTJCJMJEBEZBVNFOUBS䜫MBEJTa UBODJBEFGSFOBEP QPSFMMP DPOEV[DB EFTQBDJP 䳜 .BOUFOHBFMFRVJQPEFMMJNQJBQBSBCSJa TBT FO CVFO FTUBEP 3FFNQMBDF MBT FTDPCJMMBT DVBOEP PCTFSWF SFHVFSPT EFBHVBP[POBTTJOMJNQJBSFOFMQBa SBCSJTBT 䳜 4JMPTOFVN䜫UJDPTOPFTU䜫OFOCVFOBT DPOEJDJPOFT GSFOBS CSVTDBNFOUF FO QBWJNFOUP NPKBEP QVFEF QSPWPDBS RVF FM WFI䜷DVMP SFTCBMF Z DBVTBS VO BDDJEFOUFTFH䝄SFTFEFRVFMPTOFVa N䜫UJDPTFTU䜫OFOCVFOBTDPOEJDJPOFT 䳜 ODJFOEB MPT GBSPT QBSB RVF MPT EFa N䜫TWFI䜷DVMPTQVFEBOWFSMF 䳜 USBWFTBS DIBSDPT EFNBTJBEP S䜫QJEP QVFEFEB䜻BSMPTGSFOPT4JEFCFBUSBa WFTBSDIBSDPT I䜫HBMPEFTQBDJP 䳜 4JDSFFRVFMPTGSFOPTTFIBONPKBEP Q䜷TFMPTMJHFSBNFOUFNJFOUSBTDPOEVDF IBTUBRVFWVFMWBOBSFDVQFSBSFMGVOa DJPOBNJFOUPOPSNBM $POEVDDJ䜽OFO[POBTJOVOEBEBT WJUFDPOEVDJSFO[POBTJOVOEBEBTBOP TFSRVFFTU䜳TFHVSPEFRVFFMOJWFMEFM BHVB OP FT TVQFSJPS B MB QBSUF JOGFSJPS EFM DVCP EF MBT SVFEBT USBWJFTF DPO DVJEBEPDVBMRVJFSBDVNVMBDJ䜽OEFBHVB .BOUFOHB VOB EJTUBODJB EF TFHVSJEBE BQSPQJBEBQVFTEJTUBODJBEFGSFOBEPTF WFS䜫BGFDUBEB 5SBT DPOEVDJS QPS FM BHVB TFRVF MPT GSFOPT QJT䜫OEPMPT MJHFSBNFOUF WBSJBT WFDFT NJFOUSBT FM WFI䜷DVMP TF EFTQMB[B MFOUBNFOUF $POEVDJSTVWFI䜷DVMP
- 323. $ $POEVDDJ䜽OGVFSBEFW䜷B $POEV[DBEFTQBDJPGVFSBEFW䜷BQPSRVF TVWFI䜷DVMPQPES䜷BEB䜻BSTFDPOQJFESBT PSB䜷DFTEFMPT䜫SCPMFT$POP[DBMBTDPOa EJDJPOFT GVFSB EFW䜷B FO MBT RVF WB B DPOEVDJSBOUFTEFFNQF[BSBDPOEVDJS $POEVDDJ䜽OQPSW䜷BTQ䝄CMJDBT /FVN䜫UJDPT KVTUFMBQSFTJ䜽OEFJOGMBEPEFMPTOFVa N䜫UJDPT B MB FTQFDJGJDBEB 6OB QSFTJ䜽O NFOPS EF JOGMBEP EF MPT OFVN䜫UJDPT QVFEFQSPWPDBSVOTPCSFDBMFOUBNJFOUP ZVOQPTJCMFGBMMPEFMPTOFVN䜫UJDPT WJUFVTBSOFVN䜫UJDPTHBTUBEPTPEFUFa SJPSBEPT ZBRVFQVFEFOSFEVDJSMBUSBDa DJ䜽OPQSPWPDBSVOGBMMPEFMBSVFEB /05 /PTVQFSFMBQSFTJ䜽OEFJOGMBEPN䜫a YJNB RVF TF JOEJDB FO MPT OFVN䜫UJa DPT %735/$* 䳜 -PTOFVN䜫UJDPTQPDPPNVZJOGMBa EPT QVFEFO QSPWPDBS VO NBM NBa OFKP MBQ䜳SEJEBEFDPOUSPMEFMWFI䜷a DVMP Z VO SFQFOUJOP GBMMP EF MPT OFVN䜫UJDPT RVF DBVTF BDDJEFOUFT MFTJPOFTFJODMVTPMBNVFSUF$PNa QSVFCFTJFNQSFMPTOFVN䜫UJDPTQBa SB SFBMJ[BS VO JOGMBEP DPSSFDUP BOa UFT EF DPOEVDJS -BT QSFTJPOFT EF MPTOFVN䜫UJDPTBEFDVBEBTTFQVFa EFO DPOTVMUBS FO 䳖/FVN䜫UJDPT Z SVFEBT䳗FOMBQ䜫HJOB $POUJO䝄B $POUJO䝄B 䳜 $POEVDJS DPO OFVN䜫UJDPT TJO P JOa TVGJDJFOUF CBOEB EF SPEBEVSB FT QFMJHSPTP 6OPT OFVN䜫UJDPT EFTa HBTUBEPT QVFEFO QSPWPDBS MB Q䜳Sa EJEBEFDPOUSPM DPMJTJPOFT MFTJPOFT F JODMVTP MB NVFSUF -PT OFVN䜫UJa DPT EFTHBTUBEPT EFCFO DBNCJBSTF MPN䜫TQSPOUPQPTJCMFZOPTFEFa CFO VUJMJ[BS QBSB DPOEVDJS $PNa QSVFCFTJFNQSFMBCBOEBEFSPEBa EVSBEFMPTOFVN䜫UJDPTBOUFTEFMB DPOEVDDJ䜽O 1BSB PCUFOFS N䜫T JOa GPSNBDJ䜽OZQBSBDPOPDFSMPTM䜷NJa UFTEFMBCBOEBEFSPEBEVSB QVFa EF DPOTVMUBS 䳖/FVN䜫UJDPT Z SVFa EBT䳗FOMBQ䜫HJOB $PNCVTUJCMF SFGSJHFSBOUFZBDFJUF EFMNPUPS -B DPOEVDDJ䜽O B BMUBT WFMPDJEBEFT DPOa TVNF N䜫T DPNCVTUJCMF RVF MB DPOEVDa DJ䜽O QPS DJVEBE /P PMWJEF DPNQSPCBS UBOUPFMSFGSJHFSBOUFDPNPFMBDFJUFEFM NPUPS $PSSFBEFUSBOTNJTJ䜽O 6OBDPSSFBEFUSBOTNJTJ䜽OGMPKBPEFUFa SJPSBEB QVFEF QSPWPDBS VO TPCSFDBMFOa UBNJFOUPEFMNPUPS $POEVDJSTVWFI䜷DVMP
- 324. $ $0/%6$$*䜝//*/7*3/0 -BT DPOEJDJPOFT BNCJFOUBMFTN䜫T BEa WFSTBT EFM JOWJFSOP QSPWPDBO NBZPS EFTHBTUFZPUSPTQSPCMFNBT1BSBNJOJa NJ[BS MPT QSPCMFNBT EF MB DPOEVDDJ䜽O EVSBOUF FM JOWJFSOP TJHB MPT TJHVJFOUFT DPOTFKPT 䙓 1BSBMPTOFVN䜫UJDPTEFOJFWFZDBa EFOBT EF OJFWF QBSB FM JEJPNB OBa DJPOBM JTMBOE䜳T C䝄MHBSP DPOTVMUF FMQ䜳OEJDFFOFMDBQ䜷UVMP $POOJFWFPIJFMP 1BSB DPOEVDJS FM WFI䜷DVMP DPO VOB DBQB EF OJFWF HSVFTB VTF OFVN䜫UJDPT QBSB OJFWFPNPOUFMBTDBEFOBTFOMPTOFVa N䜫UJDPT4JTFOFDFTJUBOOFVN䜫UJDPTQBa SB MB OJFWF 䜳TUPT UJFOFO RVF UFOFS FM UBNB䜻PBEFDVBEPZTFSEFMNJTNPUJQP RVFMPTOFVN䜫UJDPTPSJHJOBMFT4JOPFT BT䜷 FMMPQPES䜷BQFSKVEJDBSMBTFHVSJEBEZ FMNBOFKPEFMWFI䜷DVMPEFN䜫T MBWFMPa DJEBE MBBDFMFSBDJ䜽OS䜫QJEB MPTGSFOB[PT CSVTDPTZMPTHJSPTSFQFOUJOPTTPOQS䜫Da UJDBTRVFQPUFODJBOMBQFMJHSPTJEBE %VSBOUFMBEFDFMFSBDJ䜽O VUJMJDFFMGSFOP NPUPSBMN䜫YJNP6UJMJ[BSMPTGSFOPTEF GPSNBT䝄CJUBFODBSSFUFSBTDPOOJFWFP IJFMP QVFEF QSPWPDBS RVF FM WFI䜷DVMP SFTCBMF (VBSEF TVGJDJFOUF EJTUBODJB EF TFHVSJEBEDPOMPTEFN䜫TDPDIFT'SFOF EFTQBDJP 5FOHB FO DVFOUB RVF MBT DBa EFOBT EF MBT SVFEBT QSPQPSDJPOBO VOB NBZPS GVFS[B EF DPOEVDDJ䜽O QFSP OP JNQJEFORVFFMWFI䜷DVMPSFTCBMFMBUFSBMa NFOUF /05 -BTDBEFOBTOPTPOMFHBMFTFOUPEPT MPT QB䜷TFT $PNQSVFCF MBT MFZFT EF TVFTUBEPBOUFTEFBKVTUBSMBTDBEFa OBT /FVN䜫UJDPTQBSBOJFWF 4JNPOUBMPTOFVN䜫UJDPTQBSBOJFWFFO FM WFI䜷DVMP BTFH䝄SFTF EF RVF TFBO SBa EJBMFTZEFRVFUFOHBOFMNJTNPUBNBa 䜻PZNBSHFOEFDBSHBRVFMPTOFVN䜫UJa DPT PSJHJOBMFT .POUF MPT OFVN䜫UJDPT QBSB OJFWF FO MBT DVBUSP SVFEBT QBSB FRVJMJCSBSFMNBOFKPEFMDPDIFFOUPEBT MBT DPOEJDJPOFT BNCJFOUBMFT 5FOHB FO DVFOUB RVF MB USBDDJ䜽O RVF PGSFDFO MPT OFVN䜫UJDPT QBSB OJFWF FO QBWJNFOUP TFDPOPFTUBOBMUBDPNPMBPGSFDJEBQPS MPTOFVN䜫UJDPTPSJHJOBMFTEFTVWFI䜷DVa MP %FCF DPOEVDJS DPO DVJEBEP JODMVTP DVBOEP MBT DBSSFUFSBT OP QSFTFOUFO QSPCMFNBT$PNQSVFCFDPOFMEJTUSJCVJa EPS EF MPT OFVN䜫UJDPT MBT SFDPNFOEBa DJPOFTN䜫YJNBTEFWFMPDJEBE $POEVDJSTVWFI䜷DVMP
- 325. %735/$* 5BNB䜻P EFOFVN䜫UJDP QBSB OJFWF -PT OFVN䜫UJDPT QBSB MB OJFWF EFCFa S䜷BOUFOFSFMNJTNPUBNB䜻PZTFSEFM NJTNP UJQP RVF MPT OFVN䜫UJDPT FTa U䜫OEBS EFM WFI䜷DVMP %F MP DPOUSBSJP MBTFHVSJEBEZFMNBOFKPEFTVWFI䜷a DVMPQPES䜷BOWFSTFBGFDUBEPTEFGPSa NBOFHBUJWB /P JOTUBMF OFVN䜫UJDPT EF UBDPT TJO DPNQSPCBS QSJNFSP MBT OPSNBUJWBT FTa UBUBMFTZMPDBMFTQPSTJIVCJFTFSFTUSJDa DJPOFTBMSFTQFDUP $BEFOBTQBSBOFVN䜫UJDPT :B RVF MPT GMBODPT EF MPT OFVN䜫UJDPT SBEJBMFTTPON䜫TGJOPT QPES䜷BOEB䜻BSTF TJTFNPOUBODJFSUPUJQPEFDBEFOBTFO FMMPT 1PS UBOUP TF SFDPNJFOEB VTBS OFVN䜫UJDPT QBSB OJFWF FO MVHBS EF MBT DBEFOBT /P NPOUF MBT DBEFOBT FO MPT WFI䜷DVMPTFRVJQBEPTDPOSVFEBTEFBMVa NJOJP MBTDBEFOBTBOUJEFTMJ[BOUFTQVFa EFEB䜻BSMBTSVFEBT4JEFCFVTBSDBEFa OBT VUJMJDFVOBTDBEFOBTNFU䜫MJDBTDVa ZP HSPTPT TFB JOGFSJPS B NN -PT EFTQFSGFDUPT DBVTBEPT BM WFI䜷DVMP QPS FMVTPJOEFCJEPEFDBEFOBTOPFTU䜫ODVa CJFSUPTQPSMBHBSBOU䜷BEFMGBCSJDBOUF *OTUBMFMBTDBEFOBTT䜽MPFOMPTOFVN䜫UJa DPTEFMBOUFSPT 5/$*䜝/ 䳜 TFH䝄SFTFRVFMBTDBEFOBTEFOJFa WFUJFOFFMUBNB䜻PDPSSFDUPZTPO EFMUJQPBEFDVBEPQBSBMPTOFVN䜫a UJDPT6UJMJ[BSDBEFOBTJOBEFDVBEBT EB䜻BMBDBSSPDFS䜷BZTVTQFOTJ䜽OEFM WFI䜷DVMP Z FTUPT EB䜻PT OP FTU䜫O DVCJFSUPTQPSMBHBSBOU䜷BEFMGBCSJa DBOUFTJNJTNP MPTFOHBODIFTEF VOJ䜽O EF MBT DBEFOBT TF QVFEFO EB䜻BS EFCJEP BM DPOUBDUP DPO MBT QJF[BT EFM WFI䜷DVMP IBDJFOEP RVF MBT DBEFOBT TF BGMPKFO TFH䝄SFTF EFRVFMBTDBEFOBTTFBOEFMBDMBTF 44DFSUJGJDBEB 䳜 $PNQSVFCF TJFNQSF FM NPOUBKF BEFDVBEPEFMBTDBEFOBTUSBTDPOa EVDJS BQSPYJNBEBNFOUF EF B LN QBSB HBSBOUJ[BS MB TFa HVSJEBEEFMNPOUBKF4JMBTDBEFOBT FTU䜫OGMPKBT WVFMWBBBQSFUBSMBTP NPOUBSMBT $POUJO䝄B $POEVDJSTVWFI䜷DVMP
- 326. $POUJO䝄B 䳜 *ODMVTPDPOMBTDBEFOBTBEFDVBEBT DPMPDBEBT OPSFBMJDFVOHJSPDPNa QMFUPHJSBS DPNQMFUBNFOUF FM WPa MBOUF EF EJSFDDJ䜽O IBDJB VO MBEP EVSBOUFMBDPOEVDDJ䜽OEFMWFI䜷DVMP 4JEFCFSFBMJ[BSVOHJSPDPNQMFUP DPOEV[DBBVOBWFMPDJEBEJOGFSJPSB LNI 䳜 4JTVWFI䜷DVMPDVFOUBDPOOFVN䜫UJa DPT EFM UBNB䜻P 3 P 3 OPVUJMJDFDBEFOBTQBa SBOFVN䜫UJDPTQVFEFODBVTBSEBa 䜻PTFOFMWFI䜷DVMP SVFEBT TVTQFOa TJ䜽OZDBSSPDFS䜷B .POUBKFEFMBTDBEFOBT 4J NPOUB MBT DBEFOBT TJHB MBT JOTUSVDa DJPOFT EFM GBCSJDBOUF N䜽OUFMBT MP N䜫T BKVTUBEBTQPTJCMFT$POEV[DBBCBKBWFa MPDJEBE DPO MBT DBEFOBT JOTUBMBEBT 4J FTDVDIBRVFMBTDBEFOBTFOUSBOFODPOa UBDUPDPOFMDIBTJTPMBDBSSPDFS䜷B Q䜫SFa TF Z BK䝄TUFMBT N䜫T 4J UPEBW䜷B IBDFO DPOUBDUP SFEV[DB MB WFMPDJEBE IBTUB RVFFMSVJEPDFTF2VJUFMBTDBEFOBTUBO QSPOUPDPNPFNQJFDFBDPOEVDJSFODBa SSFUFSBTEFTQFKBEBT %735/$* .POUBKFEFMBTDBEFOBT 1BSB NPOUBS MBT DBEFOBT EF OJFWF BQBSRVFFMWFI䜷DVMPFOVOBTVQFSGJDJF QMBOBZMMBOBBMFKBEPEFMUS䜫GJDPOa DJFOEBMBMVDFTEFFNFSHFODJBZDPMPa RVFMPTUSJ䜫OHVMPTEFFNFSHFODJBEFa US䜫TEFMWFI䜷DVMPTJFTU䜫OEJTQPOJCMFT $PMPRVFTJFNQSFFMWFI䜷DVMPFO1 FTa UBDJPOBNJFOUP BDDJPOF FM GSFOP EF FTUBDJPOBNJFOUPZQBSFFMNPUPSBOa UFTEFNPOUBSMBTDBEFOBT %735/$* $BEFOBTQBSBOFVN䜫UJDPT 䳜 6TBS MBT DBEFOBT QVFEF BGFDUBS OFHBUJWBNFOUFFMNBOFKPEFMWFI䜷a DVMP 䳜 /PFYDFEBMPTLNIPFMM䜷NJUF EF WFMPDJEBE SFDPNFOEBEP QPS FM GBCSJDBOUF EF MBT DBEFOBT FM RVF TFBN䜫TCBKP 䳜 $POEV[DB DPO DVJEBEP Z FWJUF CBa DIFT BHVKFSPT DVSWBT QSPOVODJBa EBT V PUSPT QFMJHSPT RVF QPES䜷BO IBDFSRVFFMWFI䜷DVMPTBMUF $POUJO䝄B $POUJO䝄B 䳜 WJUFMBTDVSWBTQSPOVODJBEBTPVO GSFOB[PRVFCMPRVFFMBTSVFEBT 5/$*䜝/ 䳜 4JMBTDBEFOBTOPUJFOFOFMUBNB䜻P BQSPQJBEP P FTU䜫O NBM NPOUBEBT QVFEFOEB䜻BSMPTGPSSPTEFMPTGSFa OPT MB TVTQFOTJ䜽O MB DBSSPDFS䜷B Z MBTSVFEBT 䳜 1BSF EF DPOEVDJS Z WV䜳MWBMBT B BQSFUBSDBEBWF[RVFFTDVDIFRVF HPMQFBOFMWFI䜷DVMP 6UJMJDFVOSFGSJHFSBOUFBCBTFEF FUJMFOHMJDPMEFBMUBDBMJEBE 4VWFI䜷DVMPWJFOFEFG䜫CSJDBDPOVOSFa GSJHFSBOUFBCBTFEFFUJMFOHMJDPMEFBMUB DBMJEBE FO FM TJTUFNB EF SFGSJHFSBDJ䜽O TUFSFGSJHFSBOUFFTFM䝄OJDPUJQPEFSFa GSJHFSBOUFRVFEFCFVTBSQPSRVFBZVEB BQSFWFOJSMBDPSSPTJ䜽OFOFMTJTUFNBEF SFGSJHFSBDJ䜽O MVCSJDBMBCPNCBEFBHVB F JNQJEF FM DPOHFMBNJFOUP TFH䝄SFTF EFTVTUJUVJSPSFMMFOBSFMSFGSJHFSBOUFEF BDVFSEP DPO FM QSPHSBNB EF NBOUFOJa NJFOUP EF MB Q䜫HJOB 䳖4JTUFNB EF SFGSJa HFSBDJ䜽O䳗FOMBQ䜫HJOB $POEVDJSTVWFI䜷DVMP
- 327. OUFTEFMJOWJFSOP DPNQSVFCFFMSFGSJa HFSBOUFQBSBBTFHVSBSRVFTVQVOUPEF DPOHFMBDJ䜽O FTFM BEFDVBEP QBSB MBT UFNQFSBUVSBT QSFWJTUBT EVSBOUF FM JOa WJFSOP $ $PNQSVFCFMBCBUFS䜷BZMPT DBCMFT M JOWJFSOP DBVTB NBZPSFT DBSHBT B MB CBUFS䜷B*OTQFDDJPOFWJTVBMNFOUFMBCBa UFS䜷BZMPTDBCMFTUBMDPNPTFEFTDSJCF FO䳖#BUFS䜷B䳗FOMBQ䜫HJOB4PMJDJUF MBDPNQSPCBDJ䜽OEFMOJWFMEFDBSHBEFMB CBUFS䜷BFOVOUBMMFSQSPGFTJPOBM,JBSFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $BNCJFMBWJTDPTJEBEJOWFSOBM EFMBDFJUFTJFTOFDFTBSJP OBMHVOPTDMJNBT TFSFDPNJFOEBVUJMJa [BSVOBWJTDPTJEBEEFBDFJUFCBKBQBSBMB 䜳QPDBEFJOWJFSOP$POTVMUF䳖3FDPNFOa EBDJPOFT䳗FOMBQ䜫HJOB4JOPFTU䜫 TFHVSPEFRV䜳WJTDPTJEBEEFBDFJUFEFCF FNQMFBS ,JB SFDPNJFOEB RVF DPOTVMUF FO VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP $PNQSVFCFMBTCVK䜷BTZFM TJTUFNBEFFODFOEJEP $PNQSVFCFMBTCVK䜷BTUBMDPNPTFEFTa DSJCFFO䳖#VK䜷BT QBSBNPUPSEFHBTPMJa OB ''7 䳗FOMBQ䜫HJOBZSFFNQM䜫a DFMBT TJ FT OFDFTBSJP $PNQSVFCF UBNa CJ䜳O FM DBCMFBEP EF FODFOEJEP Z MPT DPNQPOFOUFT QBSB BTFHVSBSTF EF RVF OPQSFTFOUBOHSJFUBT EFTHBTUFVPUSPT EB䜻PT 1BSBNBOUFOFSMBTDFSSBEVSBT MJNQJBTEFIJFMP 1BSB NBOUFOFS MBT DFSSBEVSBT MJNQJBT EFIJFMP JOUSPEV[DBVOQPDPEFHMJDFSJOB PM䜷RVJEPBOUJDPOHFMBOUFBQSPCBEPFOMB DFSSBEVSB4JMBDFSSBEVSBFTU䜫DVCJFSUB EFIJFMP N䜽KFMBVOQPDPDPOM䜷RVJEPBOa UJDPOHFMBOUF QBSB SFUJSBS FM IJFMP 4J MB DFSSBEVSB FTU䜫 DPOHFMBEB QPS EFOUSP QPES䜫 EFTDPOHFMBSMB TJ VUJMJ[B VOB MMBWF DBMJFOUF .BOFKF MB MMBWF DBMJFOUF DPO DVJEBEPQBSBOPMFTJPOBSTF 6UJMJDFVOBOUJDPOHFMBOUF SFDPNFOEBEPQBSBFMTJTUFNB EFMMJNQJBQBSBCSJTBT WJUFRVFFMBHVBFOFMTJTUFNBEFMMBa WBQBSBCSJTBTTFDPOHFMF B䜻BEBVOBTPa MVDJ䜽O BOUJDPOHFMBOUF QBSB MJNQJBQBSBa CSJTBTBQSPCBEBEFBDVFSEPDPOMBTJOTa USVDDJPOFT EFM EFQ䜽TJUP M BOUJDPOHFa MBOUFEFMMJNQJBQBSBCSJTBTFTU䜫EJTQPOJa CMFFOMPTDFOUSPTEFTFSWJDJPEJTUSJCVJa EPSFT ,JB BVUPSJ[BEPT Z FO MB NBZPS䜷B EFMBTUJFOEBTEFQJF[BTQBSBWFI䜷DVMPT /P VUJMJDF VO SFGSJHFSBOUF EF NPUPS V PUSPT UJQPT EF BOUJDPOHFMBOUF ZB RVF QPES䜷BFTUSPQFBSFMBDBCBEPEFQJOUVSB $POEVDJSTVWFI䜷DVMP
- 328. / /PQFSNJUBRVFFMGSFOPEF FTUBDJPOBNJFOUPTFDPOHFMF O EFUFSNJOBEBT DPOEJDJPOFT FM GSFOP EF FTUBDJPOBNJFOUP QPES䜷B DPOHFMBSTF FO MB QPTJDJ䜽O BDDJPOBEB TUP FT N䜫T QSPCBCMF DVBOEP IBZ BDVNVMBDJ䜽O EF OJFWFPIJFMPDFSDBEFMPTGSFOPTUSBTFa SPT P TJ MPT GSFOPT FTU䜫O NPKBEPT 4J IBZ SJFTHP EF RVF FM GSFOP EF FTUBDJPa OBNJFOUP TF DPOHFMF VUJM䜷DFMP UFNQPa SBMNFOUFNJFOUSBTDPMPDBMBQBMBODBEF DBNCJPT FO QPTJDJ䜽O 1 BQBSDBNJFOUP DPO USBOTNJTJ䜽O BVUPN䜫UJDB P FO QSJa NFSBNBSDIB BUS䜫T USBOTNJTJ䜽O NBa OVBM ZCMPRVFFMBTSVFEBTUSBTFSBTQBa SB RVF FM WFI䜷DVMP OP QVFEB SPEBS DPOUJOVBDJ䜽O TVFMUFFMGSFOPEFFTUBDJPa OBNJFOUP /PEFKFRVFOJFWFPIJFMPTF BDVNVMFOFOMPTCBKPTEFM WFI䜷DVMP $PO DJFSUBT DPOEJDJPOFT NFEJPBNCJFOa UBMFT MBOJFWFZFMIJFMPQPES䜷BOBDVNVa MBSTFFOMPTHVBSEBCBSSPTFJOUFSGFSJSMB EJSFDDJ䜽O4JTVFMFDPOEVDJSFODPOEJDJPa OFT NFEJPBNCJFOUBMFT NVZ BEWFSTBT DPNQSVFCFEFGPSNBQFSJ䜽EJDBMPTCBKPT EFM DPDIF QBSB BTFHVSBS RVF FM NPWJa NJFOUP EF MBT SVFEBT EFMBOUFSBT Z MBT QJF[BTEFMWPMBOUFOPFTU䜫OPCTUSVJEBT RVJQPEFBSSBTUSFEF FNFSHFODJB 4FH䝄O MBT DPOEJDJPOFT BNCJFOUBMFT FO MBT RVF DPOEV[DB EFCFS䜷B MMFWBS VO FRVJQPEFBSSBTUSFEFFNFSHFODJBBEFa DVBEPMHVOPEFFTUPTFMFNFOUPTRVF QPES䜷BMMFWBSTPODBEFOBTQBSBMPTOFVa N䜫UJDPT DVFSEBTQBSBSFNPMDBSPDBEFa OBT VOB MJOUFSOB QPSU䜫UJM CFOHBMBT BSFOB VOBQBMB QJO[BT VOSBTQBEPSQBa SBWFOUBOBT VOTVFMPJNQFSNFBCMF VO NPOPEFUSBCBKP VOBNBOUB FUD $POEVDJSTVWFI䜷DVMP
- 329. 1 140%-7)䜗$6-0 TUBTFDDJ䜽OMFBZVEBS䜫QBSBMBDPSSFDUB DBSHB EFM WFI䜷DVMP QBSB NBOUFOFS FM QFTPEFMWFI䜷DVMPDBSHBEPEFOUSPEFMPT M䜷NJUFTEFDBQBDJEBEQBSBMPTRVFIBTJa EPEJTF䜻BEP$BSHBSFMWFI䜷DVMPEFGPSa NBBEFDVBEBQSPQJDJBS䜫FMN䜫YJNPSFOa EJNJFOUPQBSBFMRVFIBTJEPEJTF䜻BEP OUFTEFDBSHBSFMWFI䜷DVMP GBNJMJBS䜷DFa TFDPOMPTTJHVJFOUFTU䜳SNJOPTQBSBEFa UFSNJOBSMPTWBMPSFTM䜷NJUFTEFMWFI䜷DVMP DPO SFTQFDUP B MBT FTQFDJGJDBDJPOFT EFM WFI䜷DVMPZMBFUJRVFUBEFDFSUJGJDBDJ䜽O 1FTPCSVUPCBTF T FM QFTP EFM WFI䜷DVMP DPO FM EFQ䜽TJUP EF DPNCVTUJCMF MMFOP Z UPEP FM FRVJQBa NJFOUPFTU䜫OEBS/PJODMVZFMPTQBTBKFa SPT OJ MB DBSHB OJ FRVJQBNJFOUP PQDJPa OBM 1FTPCSVUPEFMWFI䜷DVMP TFMQFTPEFMOVFWPWFI䜷DVMPDVBOEPMP SFDPHF EFM DPODFTJPOBSJP USBT B䜻BEJSMF BDDFTPSJPTBEJDJPOBMFT 1FTPEFDBSHB TUF QFTP JODMVZF UPEPT MPT QFTPT RVF TFB䜻BEFOBMQFTPCSVUPCBTF JODMVZFOa EPFMFRVJQBNJFOUPPQDJPOBMZMBDBSHB (8 QFTPCSVUPEFMFKF T FM QFTP UPUBM DPMPDBEP FO DBEB FKF EFMBOUFSPZUSBTFSP JODMVZFOEPFMQFa TPCSVUPEFMWFI䜷DVMPZMBDBSHB䝄UJM (83 QFTPN䜫YJNPCSVUPEFM FKF TFMQFTPN䜫YJNPQFSNJUJEPRVFQVFEF MMFWBSVO䝄OJDPFKF EFMBOUFSPPUSBTFSP TUBTDJGSBTTFNVFTUSBOFOMBFUJRVFUB EFDFSUJGJDBDJ䜽O -B DBSHB UPUBM FO DBEB FKF OVODB EFCF FYDFEFSFM(83 (78 QFTPCSVUPEFMWFI䜷DVMP TFMQFTPSFTVMUBOUFEFMBTVNBEFMQFa TPCSVUPCBTF FMQFTPEFDBSHBBDUVBMZ FMQFTPEFMPTQBTBKFSPT (783 QFTPN䜫YJNPCSVUPEFM WFI䜷DVMP T FM QFTP N䜫YJNP QFSNJUJEP EFM WFI䜷a DVMP UPUBMNFOUF DBSHBEP TF JODMVZFO UPEBTMBTPQDJPOFT FRVJQBNJFOUP QBTBa KFSPT Z DBSHB M (783 TF FODVFOUSB FO MB FUJRVFUB EF DFSUJGJDBDJ䜽O TJUVBEB FOFMVNCSBMEFMBQVFSUBEFMDPOEVDUPS PBDPNQB䜻BOUF 4PCSFDBSHB %735/$* 1FTPEFMWFI䜷DVMP MQFTPN䜫YJNPCSVUPEFMFKF (83 ZFMQFTPN䜫YJNPCSVUPEFMWFI䜷DVMP (783 EFM WFI䜷DVMP TF FTQFDJGJDBO FOMBFUJRVFUBEFDFSUJGJDBDJ䜽ORVFTF FODVFOUSBFOMBQVFSUBEFMDPOEVDUPS P EFM BDPNQB䜻BOUF YDFEFS FTUPT M䜷NJUFT QVFEF QSPWPDBS BDDJEFOUFT P EB䜻PT FO FM WFI䜷DVMP 1VFEF DBMDVMBS FMQFTPEFMBDBSHBQFTBOEPMPTPCKFa UPT Z MBT QFSTPOBT BOUFT EF DPMPa DBSMPT FO FM WFI䜷DVMP 5FOHB DVJEBEP EFOPTPCSFDBSHBSFMWFI䜷DVMP $POEVDJSTVWFI䜷DVMP
- 330. EWFSUFODJBFOMBDBSSFUFSB *OUFSSVQUPSEFMVDFTEFFNFSHFODJB ODBTPEFVOBFNFSHFODJBNJFOUSBTTFDPOEVDF 4JFMNPUPSTFDBMBFOVODSVDFPFOVOBUSBWFT䜷B 4JTFEFTJOGMBVOOFVN䜫UJDPEVSBOUFMBDPOEVDDJ䜽O 4JFMNPUPSTFDBMBEVSBOUFMBDPOEVDDJ䜽O 4JFMNPUPSOPBSSBODB 4JFMNPUPSOPHJSBPMPIBDFEFTQBDJP 4JFMNPUPSHJSBEFGPSNBOPSNBMQFSPOPBSSBODB SSBORVFEFFNFSHFODJB 1JO[BS SSBORVFNFEJBOUFFNQVKF 4JFMNPUPSTFTPCSFDBMJFOUB 4JTUFNBEFDPOUSPMEFQSFTJ䜽OEFMPTOFVN䜫UJDPT 51.4 ODBTPEFQJODIB[P DPOVOBSVFEBEFSFQVFTUP (BUPZIFSSBNJFOUBT $䜽NPFYUSBFSMBSVFEBEFSFQVFTUP $BNCJBSMBTSVFEBT UJRVFUBEFMHBUP %FDMBSBDJ䜽OEFDPOGPSNJEBE$QBSBFMHBUP $POVOOFVN䜫UJDPEFTJOGMBEP DPOFMFRVJQPEF DBNCJPEFOFVN䜫UJDPTFODBSSFUFSB *OUSPEVDDJ䜽O $PNQPOFOUFTEFMFRVJQPEFDBNCJPEFOFVN䜫UJa DPTFODBSSFUFSB 5., 6TPEFMFRVJQPEFDBNCJPEFOFVN䜫UJDPTFODBa SSFUFSB %JTUSJCVDJ䜽OEFMTFMMBOUF $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEFJOGMBEPEFMPT OFVN䜫UJDPT /PUBTTPCSFFMVTPEFMFRVJQPEFDBNCJPEF OFVN䜫UJDPTFODBSSFUFSB %BUPTU䜳DOJDPT 3FNPMRVF 4FSWJDJPEFSFNPMRVF (BODIPEFSFNPMRVFEFTNPOUBCMF 3FNPMRVFEFMWFI䜷DVMPFOVOBFNFSHFODJB $PNPEJEBEEFFNFSHFODJB YUJOUPS .BMFU䜷OEFQSJNFSPTBVYJMJPT 5SJ䜫OHVMPSFGMFDUPS .BO䜽NFUSPQBSBOFVN䜫UJDPT DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 331. %735/$*/-$3353 *OUFSSVQUPSEFMVDFTEF FNFSHFODJB -BT MVDFT EFFNFSHFODJB TJSWFO QBSB BWJTBSBMPTEFN䜫TDPOEVDUPSFTEFRVF FYUSFNFO MBT QSFDBVDJPOFT DVBOEP TF BQSPYJNFOPBEFMBOUFOTVWFI䜷DVMP %FCFOVUJMJ[BSTFDBEBWF[RVFTFSFBMJDF VOBSFQBSBDJ䜽OEFFNFSHFODJBPDVBOEP EFUFOHBFMWFI䜷DVMPDFSDBEFMBPSJMMBEF MBDBSSFUFSB 1VMTFFMJOUFSSVQUPSEFFTUFJOUFSNJUFOa UF DPO FM JOUFSSVQUPS EF FODFOEJEP FO DVBMRVJFS QPTJDJ䜽O M JOUFSSVQUPS EF MB MV[ EF FNFSHFODJB TF FODVFOUSB FO FM DFOUSPEFMUBCMFSPEFJOUFSSVQUPSFT5Pa EPTMPTJOUFSNJUFOUFTEFHJSPQBSQBEFBa S䜫OBMNJTNPUJFNQP 䳜 -BMV[EFFNFSHFODJBGVODJPOBDPOFM WFI䜷DVMPFONBSDIBPQBSBEP 䳜 -PTJOUFSNJUFOUFTOPGVODJPOBONJFOa USBTMBMV[EFFNFSHFODJBFTU䜫BDUJWB 䳜 5FOHBDVJEBEPBMVUJMJ[BSMBTMVDFTEF FNFSHFODJBDVBOEPFMWFI䜷DVMPTFBSFa NPMDBEP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 332. /$40%6/.3(/$*.*/5344$0/%6$ 4JFMNPUPSTFDBMBFOVODSVDFP FOVOBUSBWFT䜷B 䳜 4JFMNPUPSTFDBMBFOVODSVDFPVOB USBWFT䜷B DPMPRVF MB QBMBODB EF DBNa CJPTFOMB/ QVOUPNVFSUP QPTJDJ䜽O Z BDPOUJOVBDJ䜽O EFTQMBDFFMWFI䜷DVMP IBDJBVOMVHBSTFHVSP 䳜 4J TV WFI䜷DVMP UJFOF VOB USBOTNJTJ䜽O NBOVBMZOPFTU䜫FRVJQBEPDPOVOJOa UFSSVQUPSEFCMPRVFPEFFODFOEJEP FM WFI䜷DVMPQVFEFNPWFSTFIBDJBEFMBOUF DBNCJ䜫OEPTF B 䛴 P 䛴 WFMPDJEBE Z EFTQV䜳T HJSBOEP FO NPUPS EF BSSBOa RVFTJOQJTBSFMFNCSBHVF 4JTFEFTJOGMBVOOFVN䜫UJDP EVSBOUFMBDPOEVDDJ䜽O 4J VO OFVN䜫UJDP TF EFTJOGMB EVSBOUF MB DPOEVDDJ䜽O 3FUJSF FM QJF EFM QFEBM EFM BDFMFSBa EPSZEFKFRVFFMWFI䜷DVMPQJFSEBWFa MPDJEBE NJFOUSBT DPOEVDF FO M䜷OFB SFDUB/PVUJMJDFMPTGSFOPTJONFEJBa UBNFOUFPJOUFOUFTBMJSEFMBDBSSFa UFSB QPES䜷BQFSEFSFMDPOUSPM$VBOa EP FM WFI䜷DVMP IBZB QFSEJEP WFMPDJa EBE IBTUB BMDBO[BS VOB WFMPDJEBE TFHVSB GSFOF DPO DVJEBEP Z TBMHB EFMBDBSSFUFSBM䜳KFTFEFMBDBSSFa UFSBUBOUPDPNPTFBQPTJCMFZBQBSa RVFFMWFI䜷DVMPFOVOB[POBGJSNFZ OJWFMBEB4JDPOEVDFQPSVOBDBSSFa UFSBEJWJEJEB OPBQBSRVFFOMB[POB RVF FTU䜫 FOUSF MPT EPT DBSSJMFT EF US䜫GJDP $VBOEPFMWFI䜷DVMPFTU䜫QBSBEP FOa DJFOEBMBTMVDFTEFFNFSHFODJB BDa DJPOFFMGSFOPEFFTUBDJPOBNJFOUPZ DPMPRVFMBQBMBODBEFDBNCJPTFOMB QPTJDJ䜽O 1 USBOTFKF BVUPN䜫UJDP P FONBSDIBBUS䜫T USBOTFKFNBOVBM 5PEPTMPTQBTBKFSPTEFCFOTBMJSEFM WFI䜷DVMP TFH䝄SFTF EF RVF UPEPT TBMFO QPS FM MBEP EFM WFI䜷DVMP RVF FTU䜫BMFKBEPEFMUS䜫GJDP MDBNCJBSVOOFVN䜫UJDPQJODIBEP TJHB MBT JOTUSVDDJPOFT RVF TF PGSFa DFON䜫TBEFMBOUFFOFTUFDBQ䜷UVMP 4JFMNPUPSTFDBMBEVSBOUFMB DPOEVDDJ䜽O 3FEV[DBMBWFMPDJEBEEFGPSNBHSBa EVBM NBOUFOJFOEPFMWFI䜷DVMPFOM䜷a OFBSFDUBCBOEPOFDPODVJEBEPMB DBSSFUFSBIBTUBVOMVHBSTFHVSP ODJFOEBMBTMVDFTEFFNFSHFODJB *OUFOUFBSSBODBSEFOVFWPFMNPUPS 4J FM WFI䜷DVMP OP BSSBODB DPOTVMUF FO VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[Ba EP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 333. 4 4*-.0503/033/$ 4JFMNPUPSOPHJSBPMPIBDF EFTQBDJP 4J TVWFI䜷DVMP EJTQPOF EF USBOTNJa TJ䜽OBVUPN䜫UJDB BTFH䝄SFTFEFRVF MB QBMBODB EF DBNCJP FTU䜳 FO / QVOUP NVFSUP P 1 FTUBDJPOBa NJFOUP ZTFIBZBBDDJPOBEPFMGSFa OPEFFNFSHFODJB $PNQSVFCFMBTDPOFYJPOFTEFMBCBa UFS䜷BQBSBBTFHVSBSTFEFRVFFTU䜫O MJNQJBTZCJFOTVKFUBT ODJFOEBMBMV[JOUFSJPS4JMBMV[TF BQBHB DVBOEP BSSBODB MB CBUFS䜷B FTU䜫EFTDBSHBEB $PNQSVFCF MBT DPOFYJPOFT EF BSSBORVF QBSB BTFHVSBSTF EF RVF FTU䜫OCJFOTVKFUBT /P FNQVKF P UJSF EFM WFI䜷DVMP QBSB BSSBODBSMP -FB MBT JOTUSVDDJPOFT QBSB 䳖SSBORVF DPO QJO[BT䳗 FO MB Q䜫HJOB %735/$* 4JFMNPUPSOPBSSBODB OPFNQVKFOJ UJSFEFMWFI䜷DVMPQBSBBSSBODBSMPTa $POUJO䝄B $POUJO䝄B UP QVFEF QSPWPDBS DPMJTJPOFT P DBVa TBS PUSPT EB䜻PT EFN䜫T FM BSSBOa RVFQPSFNQVKFPUJSBOEPQVFEFIBa DFS RVF FM DPOWFSUJEPS DBUBM䜷UJDP TF TPCSFDBSHVF Z QSPWPRVF SJFTHP EF GVFHP 4JFMNPUPSHJSBEFGPSNB OPSNBMQFSPOPBSSBODB $PNQSVFCFFMOJWFMEFDPNCVTUJCMF $POFMJOUFSSVQUPSEFFODFOEJEPFO MB QPTJDJ䜽O -0$, CMPRVFP DPNa QSVFCFUPEPTMPTDPOFDUPSFTEFMBT CPCJOBT EF FODFOEJEP Z MBT CVK䜷BT 7VFMWB B DPOFDUBS DVBMRVJFS FMFa NFOUPRVFQPES䜷BFTUBSGMPKPPEFTa DPOFDUBEP $PNQSVFCF MB NBOHVFSB EF DPNa CVTUJCMF FO FM DPNQBSUJNFOUP EFM NPUPS 4JFMNPUPSTJHVFTJOBSSBODBS MMBNF B VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEBMMBNBSBVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 334. 33/26%.3(/$* $POFDUF MPT DBCMFTTFH䝄O FM PSEFO OVa N䜳SJDPZEFTDPO䜳DUFMPTFOFMPSEFOJOa WFSTP 1JO[BS SSBODBS DPO QJO[BT EF QVFOUF QVFEF TFS QFMJHSPTP TJ TF SFBMJ[B JODPSSFDUBa NFOUF 1PS UBOUP JOUFOUF OP IBDFSTF EB䜻PPEB䜻BSFMWFI䜷DVMPPCBUFS䜷B4JHB FM QSPDFEJNJFOUP QBSB QJO[BS FM DPDIF ODBTPEFEVEB SFDPNFOEBNPTFODBa SFDJEBNFOUF RVF TFB VO FYQFSUP P FM TFSWJDJPEFSFNPMRVFTRVJFOQJODFFMWFa I䜷DVMP 5/$*䜝/ 6UJMJDFTPMPVOTJTUFNBEFQJO[BTEF 7 1PES䜷B EB䜻BS FM NPUPS EF BSSBORVFEF7 FMTJTUFNBEFFOa DFOEJEPZPUSBTQJF[BTFM䜳DUSJDBTFNa QMFBEP VOB GVFOUF EF BMJNFOUBDJ䜽O EF 7 CJFO TFBO EPT CBUFS䜷BT EF 7FOTFSJFPVOHSVQPFMFDUS䜽HFOP EF7 %735/$* #BUFS䜷B /VODBJOUFOUFDPNQSPCBSFMOJWFMEF FMFDUSPMJUP EF MB CBUFS䜷B ZB RVF QPa ES䜷B DBVTBS TV SVQUVSB P FYQMPTJ䜽O QSPWPDBOEPIFSJEBTHSBWFT %735/$* #BUFS䜷B $POUJO䝄B $POUJO䝄B 䳜 .BOUFOHBMBTMMBNBTZMBTDIJTQBT BMFKBEBT EF MB CBUFS䜷B -B CBUFS䜷B QSPEVDFIJES䜽HFOPRVFQPES䜷BQSPa WPDBS FYQMPTJ䜽O FO DPOUBDUP DPO MMBNBTPDIJTQBT %F OP TFHVJS FTUBT JOTUSVDDJPOFT DPO QSFDJTJ䜽O QPES䜫O QSPEVDJSTF MFTJPOFTQFSTPOBMFTHSBWFTZEB䜻PT BMWFI䜷DVMP4JOPTBCFD䜽NPTFHVJS FTUF QSPDFEJNJFOUP DPO DFSUF[B CVTRVF BTJTUFODJB DVBMJGJDBEB -BT CBUFS䜷BTEFMPTBVUPN䜽WJMFTDPOUJFa OFO䜫DJEPTVMG䝄SJDP%JDIP䜫DJEPFT WFOFOPTPZBMUBNFOUFDPSSPTJWPM QJO[BSMBCBUFS䜷B VUJMJDFHBGBTQSPa UFDUPSBT Z UFOHB DVJEBEP EF RVF OPMFDBJHB䜫DJEPBTVSPQBOJFOFM WFI䜷DVMP 䳜 /P JOUFOUF QJO[BS FM WFI䜷DVMP TJ MB CBUFS䜷BFTU䜫EFTDBSHBEB UJFOFIJFa MPPTJFMOJWFMEFFMFDUSPMJUPFTCBKP -B CBUFS䜷B QPES䜷B SPNQFS P FYQMPa UBS 䳜 /P QFSNJUB RVF MPT DBCMFT EF QVFOUF Z FOUSFOFODPOUBDUP FOUSFT䜷1PES䜷BDBVTBSDIJTQBT $POUJO䝄B DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 335. $POUJO䝄B 䳜 -B CBUFS䜷BQPES䜷B SPNQFSTF P FYa QMPUBSFODBTPEFBSSBODBSFMWFI䜷a DVMPDPOQJO[BTEFQVFOUFTJMBCBa UFS䜷BFTU䜫EFTDBSHBEBPIFMBEB 1SPDFEJNJFOUPEFBSSBORVFDPO QJO[BTEFQVFOUF TFH䝄SFTFEFRVFMBCBUFS䜷BEFSFa GVFS[PUFOHB7ZFMUFSNJOBMOFa HBUJWPFTU䜳DPOFDUBEPBNBTB 4J MB CBUFS䜷B EF SFGVFS[P FTU䜫 FO PUSP WFI䜷DVMP OP QFSNJUB RVF MPT EPTWFI䜷DVMPTTFUPRVFO QBHVF UPEBT MBT DBSHBT FM䜳DUSJDBT JOOFDFTBSJBT $POFDUFMBTQJO[BTEFMBNJTNBNBa OFSB RVF NVFTUSB MB JNBHFO 1SJa NFSP DPOFDUF FM FYUSFNP EF VOB QJO[BBMUFSNJOBMQPTJUJWPEFMBCBa UFS䜷B EFTDBSHBEB Z DPOFDUF FM PUSP FYUSFNP BM UFSNJOBM QPTJUJWP EFMBPUSBCBUFS䜷B $POFDUFFMPUSPFYUSFNPEFMBQJO[B BM UFSNJOBM OFHBUJWP EF MB CBUFS䜷B EF SFGVFS[P Z QJODF FM PUSP FYa USFNPBVOQVOUPT䜽MJEP FTUBCMFZ NFU䜫MJDP BMFKBEP EF MB CBUFS䜷B QPS FKFNQMP FM TPQPSUF EF FMFWBa DJ䜽O EFM NPUPS /P MP DPOFDUF B P DFSDB VOB QJF[B RVF TF NVFWB DVBOEP FM NPUPS TF QPOF FO NBSa DIB TFH䝄SFTF EF RVF MBT QJO[BT T䜽MP FOUSBO FO DPOUBDUP DPO MPT UFSNJa OBMFT DPSSFDUPT EF MB CBUFS䜷B P MB NBTB DPSSFDUB /P TF BQPZF TPCSF MB CBUFS䜷B DVBOEP SFBMJDF MBT DPOFa YJPOFT 5/$*䜝/ $BCMFTEFCBUFS䜷B /PDPOFDUFMBQJO[BEFMUFSNJOBMOFa HBUJWP EF MB CBUFS䜷B EF SFGVFS[P BM UFSNJOBMOFHBUJWPEFMBCBUFS䜷BEFTa DBSHBEB1PES䜷BIBDFSRVFMBCBUFS䜷B EFTDBSHBEB TF TPCSFDBMJFOUF P TF BHSJFUF Z MJCFSF 䜫DJEP DPNP DPOTFa DVFODJBEFFMMP TFH䝄SFTF EF DPOFDUBS VO FYUSFNP EFMDBCMFEFQVFOUFBMCPSOFOFHBUJa WPEFMBCBUFS䜷BEFSFGVFS[PZFMPUSP FYUSFNPBVOQVOUPNFU䜫MJDP BMFKBa EPEFMBCBUFS䜷B SSBORVFFMNPUPSDPOMBCBUFS䜷BEF SFGVFS[P Z E䜳KFMP GVODJPOBS B SQNDPOUJOVBDJ䜽O BSSBORVF FMNPUPSDPOMBCBUFS䜷BEFTDBSHBEB 4JMBDBVTBEFMBEFTDBSHBEFMBCBUFS䜷B OPTFWFBTJNQMFWJTUB TPMJDJUFMBDPNa QSPCBDJ䜽OEFMTJTUFNBFOVOUBMMFSQSPa GFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJa [BEP SSBORVFNFEJBOUFFNQVKF M WFI䜷DVMP FRVJQBEP DPO USBOTNJTJ䜽O NBOVBM OP EFCFS䜷B BSSBODBS NFEJBOUF FNQVKFZBRVFFMTJTUFNBEFDPOUSPMEF FNJTJ䜽OQPES䜷BEB䜻BSTF -PT WFI䜷DVMPT FRVJQBEPT DPO USBOTNJa TJ䜽O BVUPN䜫UJDB OP QVFEFO BSSBODBSTF NFEJBOUFFNQVKF 4JHB MBT JOTUSVDDJPOFT FO FTUB TFDDJ䜽O QBSB䳖SSBORVFDPOQJO[BT䳗FOMBQ䜫HJOB %735/$* /VODB SFNPMRVF VO WFI䜷DVMP QBSB BSSBODBSMP ZBRVFMBGVFS[BSFQFOUJa OB DVBOEP FM NPUPS BSSBODB QPES䜷B DBVTBS VOB DPMJTJ䜽O DPO FM WFI䜷DVMP RVFMPSFNPMDB DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 336. 4 4*-.0503440#3$-*/5 4J FM JOEJDBEPSEF UFNQFSBUVSB JOEJDB TPCSFDBMFOUBNJFOUP OPUBS䜫 VOB Q䜳SEJa EBEFQPUFODJBPFTDVDIBS䜫VOSVJEPEF QJDBEP TJHOJGJDBRVFFMNPUPSFTU䜫NVZ DBMJFOUF4JFTUPPDVSSJFTF EFCFS䜫 4BMJS EF MB DBSSFUFSB Z EFUFOFS FM WFI䜷DVMPFODVBOUPTFBTFHVSP $PMPDBSMBQBMBODBEFDBNCJPTFO1 BQBSDBNJFOUPDPOUSBOTNJTJ䜽OBVa UPN䜫UJDB PFO/ USBOTNJTJ䜽ONBa OVBM ZBDDJPOBSFMGSFOPEFFTUBDJPa OBNJFOUP 4J FM BJSF BDPOEJDJPOBEP FTU䜫FODFOEJEP BQ䜫HVFMP 4JFMSFGSJHFSBOUFEFMNPUPSTFQJFSa EFQPSEFCBKPEFMWFI䜷DVMPPTBMFWBa QPSEFMDBQ䜽 QBSFFMNPUPS/PBCSB FMDBQ䜽IBTUBRVFOPTFQJFSEBSFa GSJHFSBOUF P FM WBQPS IBZB DFTBEP 4JOPFTQPTJCMFWFSQ䜳SEJEBTEFSFa GSJHFSBOUFPOPIBZTF䜻BMFTEFIVa NP EFKF FM NPUPS FO NBSDIB Z DPNQSVFCFRVFFMWFOUJMBEPSEFSFa GSJHFSBDJ䜽OGVODJPOB4JFMWFOUJMBEPS OPGVODJPOB BQBHVFFMNPUPS $PNQSVFCFTJMBDPSSFBEFUSBOTNJa TJ䜽O EF MB CPNCB EF BHVB GBMMB 4J OP GBMMB DPNQSVFCF RVF FTU䜳 CJFO BKVTUBEB 4JMBDPSSFBFTU䜫CJFOBKVTUBEB CVTa RVFGVHBTEFMSFGSJHFSBOUFFOFMSBa EJBEPS NBOHVFSBTPEFCBKPEFMWFa I䜷DVMP 4JTFIBFTUBEPVUJMJ[BOEPFM BJSF BDPOEJDJPOBEP FT OPSNBM RVF TFESFOFFMBHVBGS䜷BEFMBJSFBDPOa EJDJPOBEPDVBOEPFMDPDIFTFEFUJFa OF %735/$* .JFOUSBT FM NPUPS FTU䜳 FO NBSDIB NBOUFOHBFMQFMP MBTNBOPTZMBSPa QB BMFKBEPT EF MBT QJF[BT NPWJCMFT DPNP FM WFOUJMBEPS Z MBT DPSSFBT EF EJTUSJCVDJ䜽OQBSBJNQFEJSIFSJSTF 4J MB DPSSFB EF EJTUSJCVDJ䜽O EF MB CPNCBEFBHVBFTU䜫SPUBPIBZBMa HVOB GVHB EF SFGSJHFSBOUF EFM NPa UPS EFUFOHB FM NPUPS JONFEJBUBa NFOUFZMMBNFBVOUBMMFSQSPGFTJPa OBM ,JB SFDPNJFOEB MMBNBS B VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JB BVUPSJ[BEP %735/$* /P FYUSBJHB FM UBQ䜽O EFM SBEJBEPS DVBOEPFMNPUPSFTU䜳DBMJFOUFMSFa $POUJO䝄B $POUJO䝄B GSJHFSBOUF QPES䜷B TBMJS EJTQBSBEP Z QSPWPDBSRVFNBEVSBTEFHSBWFEBE 4JOPQVFEFFODPOUSBSMBDBVTBEFM TPCSFDBMFOUBNJFOUP FTQFSF IBTUB RVFMBUFNQFSBUVSBEFMNPUPSCBKF ZTFBOPSNBM4JTFIBQFSEJEPSFGSJa HFSBOUF B䜻䜫EBMP BM EFQ䜽TJUP IBTUB MMFOBSMP QPS MB NBSDB RVF JOEJDB MB NJUBE $PO QSFDBVDJ䜽O TJHB DPOEVDJFOEP BUFOUP B DVBMRVJFS TF䜻BM EF TPCSFa DBMFOUBNJFOUP 4J FM TPCSFDBMFOUBa NJFOUPTFQSPEVDFEFOVFWP MMBNF B VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEBMMBNBSBVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 337. 5/$*䜝/ 䳜 6OB Q䜳SEJEBDPOTJEFSBCMF EF SFa GSJHFSBOUF JOEJDB RVF FYJTUF VOB GVHBFOFMTJTUFNBEFSFGSJHFSBa DJ䜽O O FTUF DBTP TPMJDJUF MB DPNQSPCBDJ䜽OEFMTJTUFNBFOVO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOa EB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 4JFMNPUPSTFTPCSFDBMJFOUBEFa CJEP B VO OJWFM CBKP EF SFGSJHFa SBOUF EFM NPUPS B䜻BEJS SFGSJHFa SBOUFS䜫QJEBNFOUFQPES䜷BDBVTBS HSJFUBT FO FM NPUPS 1BSB FWJUBS EB䜻PT B䜻BEBSFGSJHFSBOUFMFOUBa NFOUFFODBOUJEBEFTQFRVF䜻BT DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 338. 4 4*45.%$0/530-%134*䜝/%-04/6.䜋5*$04 51.4 4*45䜋26*1%0 *OEJDBEPSEFQSFTJ䜽OCBKBEFMPTOFVN䜫a UJDPT *OUFSSVQUPS51.445 7JTJ䜽OHFOFSBMEFMTJTUFNB MTJTUFNBEFDPOUSPMEFQSFTJ䜽OEFMPT OFVN䜫UJDPT 51.4 EFUFDUBDBNCJPTFO FMSBEJPEFMOFVN䜫UJDP4JMBQSFTJ䜽OEFM OFVN䜫UJDP EJTNJOVZF QPS EFCBKP EF MB QSFTJ䜽O SFDPNFOEBEB MB MV[ EF BEWFSa UFODJBEFMTJTUFNBTFJMVNJOBS䜫 1BSBRVFFMTJTUFNBGVODJPOFBEFDVBEBa NFOUF FMDPOEVDUPSEFCFBKVTUBSFMTJTa UFNB TJHVJFOEP FM QSPDFEJNJFOUP DPa SSFDUP Z BKVTUBOEP MB QSFTJ䜽O EFM OFVa N䜫UJDPBDUVBM -BMV[EFBEWFSUFODJBTFJMVNJOBS䜫FOFM UBCMFSP DVBOEP VOP P N䜫T OFVN䜫UJDPT FTU䜳O EFTJOGMBEPT EFTQV䜳T EF DPOGJHVa SBSFM51.4 -BMV[EFBEWFSUFODJBUBNCJ䜳OTFJMVNJa OBS䜫QBSBBEWFSUJSBMDPOEVDUPSEFVOB BWFS䜷BFOFMTJTUFNB 1BSB PCUFOFS JOGPSNBDJ䜽O BEJDJPOBM DPOTVMUFMBJNBHFOBOUFSJPS $POGJHVSBDJ䜽OEFM51.4 MDPOEVDUPSQVFEFDPOGJHVSBSFM51.4 NFEJBOUF MPT QSPDFEJNJFOUPT TJHVJFOa UFT *OGMFUPEPTMPTOFVN䜫UJDPTBMBQSFa TJ䜽OSFDPNFOEBEB SSBORVF FM NPUPS BTFH䝄SFTF EF RVF FM WFI䜷DVMP OP TF EFTQMBDF Z QVMTFFMJOUFSSVQUPS51.4 TJUVBa EP FO FM MBEP J[RVJFSEP EFM BTJFOUP EFMDPOEVDUPSEVSBOUFN䜫TEFTFa HVOEPT $PNQSVFCFTJFMJOEJDBEPSEFBEWFSa UFODJB QBSQBEFBEVSBOUFTFa HVOEPT $PNQSVFCF TJ FM NFOTBKF TJHVJFOUF BQBSFDFFOFMUBCMFSPEFJOTUSVNFOa UPT TJFTU䜫FRVJQBEP 䙓 4JMBMV[EFBEWFSUFODJBOPQBSQBEFB PFMNFOTBKFOPBQBSFDF MMFWFBDBa CPEFOVFWPFMQSPDFTPEFTEFFMQBa TP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 339. 1BSB PCUFOFS JOGPSNBDJ䜽OBDFSDB EF MB QSFTJ䜽OEFMPTOFVN䜫UJDPTEFFTUFWFI䜷a DVMP DPOTVMUF 䳖/FVN䜫UJDPT Z MMBOUBT 䳗 FO MB Q䜫HJOB P MB FUJRVFUB EF MB QSFTJ䜽OEFMPTOFVN䜫UJDPTFOMBQVFSUB EFMDPOEVDUPS 1BSB VO GVODJPOBNJFOUP BEFDVBEP EFM 51.4 FMDPOEVDUPSEFCFBKVTUBSFMTJTa UFNBFOMBTTJUVBDJPOFTTJHVJFOUFT 䙓 4JUVBDJ䜽ORVFSFRVJFSFFMBKVTUFEFM 51.4 䳜 4JTFIBSFQBSBEPPTVTUJUVJEPFMOFVa N䜫UJDPPMBSVFEB 䳜 4JTFIBWVFMUPBDPMPDBSFMOFVN䜫UJDP PMBSVFEB 䳜 4J TF IB BKVTUBEP MB QSFTJ䜽O EF MPT OFVN䜫UJDPT 䳜 4JTFIBJMVNJOBEPFMJOEJDBEPSEFQSFa TJ䜽OCBKB 䳜 4JTFIBTVTUJUVJEPMBTVTQFOTJ䜽OPFM #4 5/$*䜝/ 4JTFDPOGJHVSBFMTJTUFNBTJOBKVTUBS MBQSFTJ䜽OEFMPTOFVN䜫UJDPT TFQVFa EFQSPEVDJSVOBGBMTBBMBSNBPFMBWJa TBEPS OP TF NPTUSBS䜫 BVORVF MPT $POUJO䝄B $POUJO䝄B OFVN䜫UJDPTEFMWFI䜷DVMPFTU䜳OTJHOJa GJDBUJWBNFOUFEFTJOGMBEPT TFH䝄SFTFEFRVFUPEPTMPTOFVN䜫UJa DPTFTU䜫OBKVTUBEPTBEFDVBEBNFOUF BMBQSFTJ䜽OSFDPNFOEBEBBMDPMPDBSa MPT 4JOPTFDPOGJHVSBFMTJTUFNBJODMVTP FO MBT TJUVBDJPOFT SFRVFSJEBT TF QVFEFQSPEVDJSVOBGBMTBBMBSNBPFM BWJTBEPSOPTFNPTUSBS䜫BVORVFMPT OFVN䜫UJDPTEFMWFI䜷DVMPFTU䜳OTJHOJa GJDBUJWBNFOUFEFTJOGMBEPT MTJTUFNBOPTFBKVTUBS䜫TJQVMTBFM JOUFSSVQUPS45 NJFOUSBTDPOEVa DFTFH䝄SFTFEFEFUFOFSFMWFI䜷DVMP ZEFQVMTBSFMJOUFSSVQUPS EVSBOUF N䜫TEFTFHVOEPT 䳜 TFH䝄SFTFEFRVFFMOFVN䜫UJDPFTa U䜳GS䜷PBOUFTEFJOGMBSMP 6OOFVN䜫UJDPGS䜷PTJHOJGJDBRVFIB FTUBEP QBSBEP EVSBOUF IPSBT P RVF TF IBO SFDPSSJEP NFOPT EF LN *OEJDBDJ䜽OEFQSFTJ䜽OCBKBEFMPT OFVN䜫UJDPT -BMV[EFBEWFSUFODJB TFJMVNJOBS䜫 QBSBJOEJDBSRVFVOOFVN䜫UJDPFTU䜫EFa TJOGMBEP O EFUFSNJOBEPT UJQPT FM NFOTBKFBOUFSJPSTFQPES䜷BNPTUSBSFO FMUBCMFSPEFJOTUSVNFOUPT 4J MB MV[ EF BEWFSUFODJB TF JMVNJOB SFa EV[DBMBWFMPDJEBEZFWJUFSFBMJ[BSHJSPT CSVTDPT Z GSFOBS DPO SBQJEF[ -MFWF FM WFI䜷DVMPBVOUBMMFSQSPGFTJPOBMQBSBRVF MP JOTQFDDJPOFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 340. $PNQSVFCFMBQSFTJ䜽OEFUPEPTMPTOFVa N䜫UJDPTF䜷OGMFMPTBMBQSFTJ䜽OBEFDVBEB EFBDVFSEPDPOMPTQSPDFEJNJFOUPT ZTJ FT OFDFTBSJP TVTUJUVZB P SFQBSF MPT OFVN䜫UJDPT 4J OP QVFEF MMFHBS B VOB FTUBDJ䜽O EF TFSWJDJPDFSDBOB EFUFOHBFMWFI䜷DVMPFO VOMVHBSTFHVSP DPNQSVFCFMPTOFVN䜫a UJDPTZMMFWFBDBCPFMQSPDFEJNJFOUPEF DPOGJHVSBDJ䜽O EFM 51.4 4J OP QVFEF BKVTUBS MB QSFTJ䜽O EF MPT OFVN䜫UJDPT VUJMJDF MBT IFSSBNJFOUBT EF SFQBSBDJ䜽O QBSBSFQBSBSPDBNCJBSFMOFVN䜫UJDPEF SFQVFTUPZQ䜽OHBTFFODPOUBDUPDPOVO UBMMFSQSPGFTJPOBM ,JB SFDPNJFOEB MMBNBS B VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP T QPTJCMF RVF OP QVFEB JEFOUJGJDBS MB QSFTJ䜽O CBKB EF MPT OFVN䜫UJDPT WJTVBMa NFOUF 6UJMJDF IFSSBNJFOUBT QSFDJTBT QBSB NFEJS Z BKVTUBS MB QSFTJ䜽O EF MPT OFVN䜫UJDPT 5FOHB FO DVFOUB RVF VO OFVN䜫UJDP RVF FTU䜫 DBMJFOUF EFCJEP B VOBDPOEVDDJ䜽OQSPMPOHBEB UFOES䜫 QPS MP UBOUP VOB QSFTJ䜽O FMFWBEB 3FDPa NFOEBNPTRVFNJEBZBKVTUFMBQSFTJ䜽O EF MPT OFVN䜫UJDPT EFTQV䜳T EF RVF FM WFI䜷DVMP IBZB SFDPSSJEP NFOPT EF LNFOIPSBT 5/$*䜝/ 䳜 MJOEJDBEPSQVFEFQFSNBOFDFSJMVa NJOBEP EFTQV䜳T EF DBNCJBS VO OFVN䜫UJDP EF SFQVFTUP QPSRVF FM SBEJPEFMOFVN䜫UJDPEFSFQVFTUPFT EJGFSFOUF TFH䝄SFTF EF DBNCJBSMP QPSVOOFVN䜫UJDPFTU䜫OEBS 䳜 1BSBVOBDPOEVDDJ䜽OTFHVSB UFOHB FO DVFOUB RVF FM 51.4 OP SFFNa QMB[B FM NBOUFOJNJFOUP BEFDVBEP EFMPTOFVN䜫UJDPTTSFTQPOTBCJMJa EBE EFM DPOEVDUPS NBOUFOFS MB QSFTJ䜽OEFMPTOFVN䜫UJDPTDPSSFDUB Z UPEPT MPT OFVN䜫UJDPT TF EFCFa S䜷BODPNQSPCBSNFOTVBMNFOUFQBa SB NBOUFOFS MB QSFTJ䜽O SFDPNFOa EBEB 䳜 -BMV[EFBEWFSUFODJBTFQPES䜷BJMVa NJOBSTJFMTJTUFNBOPFTU䜫DPOGJa HVSBEPFOMBTTJUVBDJPOFTSFRVFSJa EBT $POUJO䝄B $POUJO䝄B 䳜 4J IBDF GS䜷P MB MV[ EF BEWFSUFODJB EFQSFTJ䜽OCBKBEFMPTOFVN䜫UJDPT TFQPES䜷BJMVNJOBSJODMVTPTJFMOFVa N䜫UJDPTFBKVTU䜽BMBQSFTJ䜽OBEFa DVBEB TUP OP TJHOJGJDB RVF FM 51.4 FTU䜳 BWFSJBEP ZB RVF MPT EFTDFOTPT EF UFNQFSBUVSB QSPWPa DBOVOBCBKBEBEFMBQSFTJ䜽OEFMPT OFVN䜫UJDPT $PNQSVFCF MPT OFVa N䜫UJDPTZBK䝄TUFMPTBMBQSFTJ䜽OSFa DPNFOEBEB 䳜 -BT QSFTUBDJPOFT EFM TJTUFNB TF QPES䜷BO SFEVDJS FO MBT TJUVBDJPOFT TJHVJFOUFT $POGJHVSBDJ䜽O JOBEFDVBEB EFM TJTUFNB 6UJMJ[BDJ䜽OEFOFVN䜫UJDPTEJTQPa OJCMFT FO FM NFSDBEP TF SFDPa NJFOEBVTBSMPTOFVN䜫UJDPTPSJa HJOBMFT $POEVDDJ䜽O FO DBSSFUFSBT DPO OJFWF SFTCBMBEJ[BT P OP QBWJa NFOUBEBT (JSPT CSVTDPT BDFMFSBDJ䜽O S䜫QJa EBZGSFOBEPDPOTUBOUF $POEVDDJ䜽O EFNBTJBEP MFOUB P S䜫QJEB $POUJO䝄B DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 341. $POUJO䝄B 4JFMWFI䜷DVMPFTU䜫TPCSFDBSHBEP 4JTFIBDPMPDBEPVOOFVN䜫UJDP EFSFQVFTUP P DBEFOBT QBSB MB OJFWF %735/$* 䳜 $POEVDJSDPOOFVN䜫UJDPTQPSEFCBa KP EF MB QSFTJ䜽O BEFDVBEB QSPWPDB VOTPCSFDBMFOUBNJFOUPEFMPTNJTa NPTZQVFEFDBVTBSVOGBMMPEFMPT OFVN䜫UJDPT 5BNCJ䜳O TF SFEVDF MB WJEB 䝄UJM EF MB CBOEB EF SPEBEVSB EFMPTOFVN䜫UJDPT MBDBQBDJEBEEF GSFOBEPZMBFGJDJFODJBEFDPNCVTa UJCMF MP RVF QSPWPDB MB JOFTUBCJMJa EBE EFM WFI䜷DVMP O FTUF DBTP Q䜽OHBTFFODPOUBDUPDPOVOUBMMFS QSPGFTJPOBM QBSB NBOUFOFS MB QSFa TJ䜽O EF MPT OFVN䜫UJDPT BEFDVBEB ,JBSFDPNJFOEBQPOFSTFFODPOUBDa UPDPOVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP $POUJO䝄B $POUJO䝄B 䳜 TQPTJCMFRVFFMEB䜻PSFQFOUJOPB MPTOFVN䜫UJDPTQSPWPDBEPQPSGBDa UPSFT FYUFSOPT OP TF EFUFDUF JOa NFEJBUBNFOUF 4J FM WFI䜷DVMP FT JOFTUBCMF SFUJSF JONFEJBUBNFOUF FMQJFEFMQFEBMEFMBDFMFSBEPS EFTa QMBDF FM WFI䜷DVMP B VOB VCJDBDJ䜽O TFHVSB QBSB SFBMJ[BS VOB JOTQFDa DJ䜽O WFS䜷BEFMTJTUFNBEFQSFTJ䜽OEF MPTOFVN䜫UJDPT M JOEJDBEPS EF BWFS䜷B EFM 51.4 TF JMVa NJOB EFTQV䜳TEFQBSQBEFBSBQSPa YJNBEBNFOUFEVSBOUFNJOVUPDVBOEP IBZVOQSPCMFNBDPOFMTJTUFNBEFDPOa USPMEFMBQSFTJ䜽OEFMPTOFVN䜫UJDPTTa UB TFDVFODJB TF SFQFUJS䜫 DBEB WF[ RVF TF BSSBORVF FM WFI䜷DVMP NJFOUSBT TJHB FYJTUJFOEPMBBWFS䜷B 4J FM JOEJDBEPS QFSNBOFDF JMVNJOBEP P TFJMVNJOBJODMVTPEFTQV䜳TEFBKVTUBSFM 51.4 TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTa UFNBFOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* 䳜 4J IBZ VOB BWFS䜷B FO FM 51.4 MB QSFTJ䜽OEFMPTOFVN䜫UJDPTCBKBOP TFJOEJDBS䜫OFTUFDBTP TPMJDJUFFM NBOUFOJNJFOUP EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP 䳜 4JFMTJTUFNBOPGVODJPOBEFCJEPB MB FYUSBDDJ䜽O P JOTUBMBDJ䜽O EF QJFa [BT SFMBDJPOBEBT DPO FM 51.4 EF EJGFSFOUF FTQFDJGJDBDJ䜽O QPES䜷B FYJTUJSVOQSPCMFNBDVBOEPFMWFI䜷a DVMP TF JOTQFDDJPOF EF GPSNB QFa SJ䜽EJDB 䳜 M SFQBSBS MBT QJF[BT SFMBDJPOBEBT DPO FM 51.4 BTFH䝄SFTF EF TVTUJa UVJSMBTQPSQJF[BTDPOMBFTQFDJGJDBa DJ䜽OPSJHJOBMPQPSQJF[BTRVFDVNa QMBOMBOPSNBUJWBEFM51.4 1JF[BT SFMBDJPOBEBT DPO FM 51.4OFVN䜫UJDPT SVFEBT VOJa EBE#4 TVTQFOTJ䜽O DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 342. %735/$* 136301 /P NPEJGJRVFFM WFI䜷DVMP 1PES䜷B JOa UFSGFSJSDPOMBGVODJ䜽OEFM5.14 䙓 5PEPT MPT WFI䜷DVMPT WFOEJEPT FO FM NFSDBEP 63010 FO FM QFa SJPEPBCBKPJOEJDBEPEFCFOFTUBS FRVJQBEPTDPO51.4 .PEFMPEFMWFI䜷DVMPOVFWPEF OPWEF_ .PEFMPEFMWFI䜷DVMPBDUVBMEF OPWEF_ TFH䝄OFMSFHJTUSP EFWFI䜷DVMPT 3FGFSFODJBFTUBEPEFMJOEJDBEPS MVNJOPTP TUBEP 4䜷NCPMP 1SFTJ䜽OCBKB 'BMMPEFMTJTUFNB TUBEP 4䜷NCPMP KVTUF DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 343. /$40%1*/$);0 $0/6/36%%3164504*45䜋26*1%0 (BUPZIFSSBNJFOUBT MHBUP MBQBMBODBEFMHBUPZMBMMBWFEF MBTUVFSDBTEFMBTSVFEBTTFFODVFOUSBO FOFMNBMFUFSP CSBMBDVCJFSUBEFMDPNQBSUJNFOUPEFM NBMFUFSPQBSBTBDBSMBTIFSSBNJFOUBT 1BMBODBEFMHBUP (BUP -MBWFEFMBTUVFSDBTEFMBTSVFEBT *OTUSVDDJPOFTQBSBFMVTPEFMHBUP MHBUPTPMPTFEFCFVTBSQBSBDBNCJBS MBSVFEBEFSFQVFTUP 1BSBJNQFEJSRVFFMHBUPTFNVFWBZWJa CSFNJFOUSBTFMDPDIFFTU䜫FONBSDIB HV䜫SEFMPDPSSFDUBNFOUF 4JHB MBT JOTUSVDDJPOFT EFM VTP EFM HBUP QBSB SFEVDJS MBT QPTJCJMJEBEFT EF EB䜻PT DPSQPSBMFT %735/$* $BNCJBSMBTSVFEBT 䳜 /VODB JOUFOUF SFQBSBS FM WFI䜷DVMP FOMPTDBSSJMFTEFVOBDBSSFUFSBQ䝄a CMJDBPBVUPQJTUB 䳜 %FTQMBDFTJFNQSFFMWFI䜷DVMPDPNa QMFUBNFOUFGVFSBEFMBDBSSFUFSBZ FO FM CPSEF JOUFOUF DBNCJBS VO OFVN䜫UJDP-BCBTFEFMHBUPEFCFa S䜷B VUJMJ[BSTF FO TVFMP GJSNF 4J OP FODVFOUSB VO MVHBS OJWFMBEP Z GJSa NF GVFSB EF MB DBSSFUFSB MMBNF B VOTFSWJDJPEFSFNPMRVFT 䳜 TFH䝄SFTF EF VUJMJ[BS MBT QPTJDJPa OFT EFM HBUP EFMBOUFSB Z USBTFSB DPSSFDUBNFOUF OVODB VUJMJDF MPT QBSBDIPRVFTVPUSBQBSUFEFMWFI䜷a DVMPQBSBBQPZBSFMHBUP $POUJO䝄B $POUJO䝄B 䳜 MWFI䜷DVMPQPES䜷BTPMUBSTFEFMHBUP ZDBVTBSIFSJEBTHSBWFTPMBNVFSa UF 䳜 /PTFDPMPRVFEFCBKPEFVOWFI䜷DVa MPFMFWBEPDPOVOHBUP 䳜 /P BSSBORVF FM NPUPS NJFOUSBT FM WFI䜷DVMPFTU䜳TPCSFFMHBUP 䳜 /P QFSNJUB B OBEJF QFSNBOF[DB EFOUSPEFMWFI䜷DVMPNJFOUSBTVUJMJDF FMHBUP 䳜 .BOUFOHB B MPT OJ䜻PT FO VO MVHBS TFHVSPBMFKBEPEFMBDBSSFUFSBZEFM WFI䜷DVMPRVFWBBTFSMFWBOUBEPQPS FMHBUP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 344. $ $䜽NPFYUSBFSMBSVFEBEF SFQVFTUP (JSFFMQFSOPEFQBMPNJMMBEFBQSJFUFEF MBSVFEBFOTFOUJEPBOUJIPSBSJP (VBSEF FM OFVN䜫UJDPTJHVJFOEP FM QSPa DFTPEFEFTNPOUBKFFOTFOUJEPJOWFSTP 1BSBJNQFEJSRVFMBSVFEBEFSFQVFTUP Z MBT EFN䜫T IFSSBNJFOUBT TF NVFWBO NJFOUSBT FM WFI䜷DVMP FTU䜫 FO NBSDIB HV䜫SEFMBTDPSSFDUBNFOUF 4JSFTVMUBEJG䜷DJMBGMPKBSFMQFSOPEFQBMPa NJMMBEFGJKBDJ䜽OEFMBSVFEBDPOMBNBa OP QPES䜫 BGMPKBSMP N䜫T G䜫DJMNFOUF VTBOEPMBNBOJWFMBEFMHBUP *OUSPEV[DBMBNBOJWFMBEFMHBUP EFOUSPEFMQFSOPEFQBMPNJMMBEFGJa KBDJ䜽OEFMBSVFEB (JSFFMQFSOPEFQBMPNJMMBEFGJKBDJ䜽O EF MB SVFEB FO TFOUJEP BOUJIPSBSJP DPOMBNBOJWFMBEFMHBUP %735/$* TFH䝄SFTF EF RVF FM SFU䜳O EFM OFVa N䜫UJDP EF SFQVFTUP FTU䜫 DPSSFDUBa NFOUF BMJOFBEP DPO FM DFOUSP EFM OFVN䜫UJDPQBSBFWJUBSRVFTFNVFWB O DBTP DPOUSBSJP QVFEF QSPEVDJS RVF FM OFVN䜫UJDP EF SFQVFTUP DBJHB EFTVTPQPSUFZQSPWPDBSVOBDDJEFOa UF $BNCJBSMBTSVFEBT QBSRVFFOVOBTVQFSGJDJFOJWFMBEB Z BDDJPOF FM GSFOP EF FTUBDJPOBa NJFOUP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 345. $BNCJF MB QBMBODBEF DBNCJPT B 3 NBSDIB BUS䜫T DPO USBOTNJTJ䜽O NBOVBM P 1 FTUBDJPOBNJFOUP DPO USBOTNJTJ䜽OBVUPN䜫UJDB ODJFOEBMBTMVDFTEFFNFSHFODJB 3FUJSFFMHBUP FMNBOHPEFMHBUP MB MMBWFQBSBMBTUVFSDBTEFSVFEBZMB SVFEBEFSFQVFTUPEFMWFI䜷DVMP #MPRVFFMBSVFEBEFMBOUFSBZUSBTFa SBPQVFTUBTEJBHPOBMNFOUFBMBQPa TJDJ䜽OEFMHBUP %735/$* $BNCJPEFVOOFVN䜫UJDP $POUJO䝄B $POUJO䝄B 䳜 1BSB JNQFEJS RVF FM WFI䜷DVMP TF NVFWB NJFOUSBT DBNCJB MB SVFa EB NBOUFOHB TJFNQSF FM GSFOP EF FTUBDJPOBNJFOUP UPUBMNFOUF BDDJPOBEP Z CMPRVFF MBT SVFEBT PQVFTUBT EJBHPOBMNFOUF B MB SVFEBRVFTFWBBDBNCJBS 䳜 3FDPNFOEBNPT RVF CMPRVFF MBT SVFEBT EFM WFI䜷DVMP Z RVF OBEJF QFSNBOF[DB EFOUSP EFM WFI䜷DVMP RVFWBBMFWBOUBSDPOFMHBUP GMPKF MBT UVFSDBT EF MB SVFEB FO TFOUJEPBOUJIPSBSJPQFSPOPMBTFYa USBJHBIBTUBRVFMBSVFEBZBOPUPa RVFN䜫TFMTVFMP 4JU䝄FFMHBUPFOMBQPTJDJ䜽OEFMBOUFa SB PUSBTFSB N䜫TDFSDBOBB MBSVFEBRVFTFDBNCJB$PMPRVFFM HBUP FO MB [POB EFTJHOBEB EFCBKP EFMCBTUJEPS-BTQPTJDJPOFTQBSBFM HBUPTPOQMBDBTTPMEBEBTBMCBTUJEPS DPO EPT MFOH䝆FUBT Z VO QVOUP EF BQPZPQBSBFMHBUP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 346. %735/$* 6CJDBDJ䜽OEFMHBUP 1BSB SFEVDJSFM SJFTHP EF MFTJPOFT BTFH䝄SFTFEFVUJMJ[BST䜽MPFMHBUPRVF WJFOFDPOFMWFI䜷DVMPZFOTVQPTJDJ䜽O DPSSFDUB/VODBVUJMJDFVOBQBSUFEFM WFI䜷DVMPQBSBBQPZBSFMHBUP *OUSPEV[DB MB NBOJWFMB EFM HBUP FO FMHBUPZH䜷SFMBFOTFOUJEPIPSBSJP FMFWBOEP FM WFI䜷DVMP IBTUB RVF MBT SVFEBT TF TFQBSFO EFM TVFMP TUB NFEJEB FT BQSPYJNBEBNFOUF EF NNOUFTEFFYUSBFSMBTUVFSa DBT EF MB SVFEB BTFH䝄SFTF EF RVF FM WFI䜷DVMP FTU䜫 FTUBCMF Z OP IBZ NBOFSBEFRVFTFNVFWBPEFTMJDF GMPKFMBTUVFSDBTEFMBSVFEBZSFU䜷a SFMBTDPOMPTEFEPT%FTMJDFMBSVFEB EF MPT FTQ䜫SSBHPT Z E䜳KFMB FO FM TVFMPQBSBRVFOPQVFEBSPEBS1Ba SBDPMPDBSMBSVFEBFOFMDVCP DPKB MBSVFEBEFSFQVFTUP BMJOFFMPTPSJa GJDJPTDPOMPTFTQ䜫SSBHPTZEFTMJDFMB SVFEBFOFMMPT 4JFTUPFTEJG䜷DJM HPMQFFMBSVFEBEF NBOFSB HFOUJM Z IBHB DPJODJEJS FM BHVKFSP TVQFSJPS DPO FM FTQ䜫SSBHP DPSSFTQPOEJFOUF DPOUJOVBDJ䜽O TBDVEB MB SVFEB IBDJB EFMBOUF Z BUS䜫T IBTUB RVF FODBKF DPO MPT PUSPTFTQ䜫SSBHPT %735/$* T QPTJCMF RVF MBT SVFEBT UFOHBO CPSEFT BGJMBEPT 5FOHB DVJEBEP DPO FMMBT QBSB FWJUBS QPTJCMFT IFSJEBT OUFTEFDPMPDBSMBSVFEBFOTVTJUJP BTFH䝄SFTFEFRVFOPIBZBOBEBFOFM DVCP P FO MB SVFEB DPNP CBSSP BMa RVJUS䜫O HSBWJMMB FUD RVF JOUFSGJFSB DPOMBTPMJEF[EFMBKVTUFEFMBSVFEB DPOFMDVCP $POUJO䝄B $POUJO䝄B 4J IVCJFTF BMHP RV䜷UFMP 4J OP IB CVFO DPOUBDUP FO MB TVQFSGJDJF EF NPOUBKFFOUSFMBSVFEBZFMDVCP MBT UVFSDBTEFMBSVFEBQVFEFOBGMPKBSZ QSPWPDBS MB Q䜳SEJEB EF VOB SVFEB 1FSEFS VOB SVFEB QPES䜷B DBVTBS MB Q䜳SEJEB EF DPOUSPM EFM WFI䜷DVMP MMP QPES䜷B DBVTBS IFSJEBT HSBWFT P MB NVFSUF 1BSBWPMWFSBDPMPDBSMBSVFEB NBOa U䜳OHBMB FO MPT FTQ䜫SSBHPT DPMPRVF MBTUVFSDBTEFMBSVFEBFOMPTFTQ䜫a SSBHPTZBQSJ䜳UFMBTEFTQV䜳TDPOMPT EFEPT 4BDVEB MB SVFEB QBSB DPNa QSPCBSRVFTFIBBKVTUBEPDPSSFDUBa NFOUF BQSJFUF MBT UVFSDBT DPO MPT EFEPTUBOUPDPNPTFBQPTJCMF 1BSBCBKBSFMWFI䜷DVMPBMTVFMP HJSF MB MMBWF EF MBT UVFSDBT FO TFOUJEP BOUJIPSBSJP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 347. %FTQV䜳TMBQPTJDJ䜽OEFMBMMBWFFTMBRVF TF NVFTUSB FOMB GJHVSB Z BQSJFUF MBT UVFSDBTEFMBSVFEBTFH䝄SFTFEFRVF FM DBTRVJMMP FTU䜫 DPNQMFUBNFOUF BTFOa UBEPTPCSFMBUVFSDB/PQJTFMBNBOJMMB EFMBMMBWFPVUJMJDFVOUVCPEFFYUFOTJ䜽O TPCSFMBNBOJMMBEFMBMMBWF7BZBBMSFEFa EPSEFMBSVFEB BQSFUBOEPDBEBVOBEF MBTPUSBTUVFSDBTIBTUBRVFFTU䜳OUPEBT BQSFUBEBT DPOUJOVBDJ䜽O EFCF WPMWFS BDPNQSPCBSDBEBUVFSDBQBSBDPNQSPa CBS FM BQSJFUF %FTQV䜳T EF DBNCJBS MBT SVFEBT TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTa UFNBFOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 1 1BSEFBQSJFUFEFMBUVFSDBEFMBSVFEB 3VFEBEFBDFSPZSVFEBEFBMFBDJ䜽OEF BMVNJOJP_LHG䜁N 4J EJTQPOF EF VO DBMJCSBEPS EF QSFTJ䜽O EFMPTOFVN䜫UJDPT SFUJSFFMUBQ䜽OEFMB W䜫MWVMBZDPNQSVFCFMBQSFTJ䜽OEFMBJSF 4JMBQSFTJ䜽OFTNFOPSBMBSFDPNFOEBa EB DPOEV[DBDPODVJEBEPIBTUBMBFTUBa DJ䜽OEFTFSWJDJPN䜫TDFSDBOBQBSBJOGMBS MBQSFTJ䜽ODPSSFDUB4JFTEFNBTJBEPBMa UB BK䝄TUFMB IBTUB RVF TFB DPSSFDUB 7VFMWBBDPMPDBSTJFNQSFFMUBQ䜽OEFMB W䜫MWVMBEFTQV䜳TEFDPNQSPCBSPBKVTUBS MBQSFTJ䜽O4JOPWVFMWFBDPMPDBSFMUBa Q䜽O QPES䜷BQSPEVDJSTFVOBGVHBEFBJSF 4J IB QFSEJEP FM UBQ䜽O DPNQSF PUSP F JOTU䜫MFMPMPBOUFTQPTJCMF 5SBT DBNCJBS MBT SVFEBT BTFH䝄SFTF EF DPMPDBSMBSVFEBQJODIBEBFOTVTJUJPZ HVBSEBSFMHBUPZMBTIFSSBNJFOUBTBEFa DVBEBNFOUF 5/$*䜝/ 4VWFI䜷DVMPQPTFFSPTDBTN䜳USJDBTFO MPTFTQ䜫SSBHPTZUVFSDBTTFH䝄SFTF EVSBOUF MB FYUSBDDJ䜽O EF MBT SVFEBT EFWPMWFSBQPOFSMBTNJTNBTUVFSDBT RVF IB FYUSB䜷EP 4J MBT SFFNQMB[B DPNQSVFCF RVF FNQMFB UVFSDBT DPO SPTDBEPN䜳USJDPZFMNJTNPCJTFMBEP $PMPDBS VOB UVFSDB DPO VO SPTDBEP $POUJO䝄B $POUJO䝄B OPN䜳USJDPFOVOFTQ䜫SSBHPN䜳USJDP PWJDFWFSTB OPHBSBOUJ[BFMBKVTUFEF MBSVFEBBMDVCPZQPES䜷BEB䜻BSFMFTa Q䜫SSBHPZQPTUFSJPSNFOUFIBCS䜷BRVF SFFNQMB[BSMP '䜷KFTFRVFMBNBZPS䜷BEFMBTUVFSDBT EF UBDP OP UJFOFO SPTDBEP N䜳USJDP 5FOHB FTQFDJBM DVJEBEP B MB IPSB EF DPNQSPCBSFMFTUJMPEFSPTDBEPBOUFT EF JOTUBMBS MBT UVFSDBT EF UBDP ZB DPNQSBEBTPMBTSVFEBT ODBTPEFEVEB DPOTVMUFFOVOUBa MMFSQSPGFTJPOBM,JBSFDPNJFOEBDPOa TVMUBSFOVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP %735/$* TQ䜫SSBHPTEFSVFEB 4J MPT FTQ䜫SSBHPT FTU䜫O EB䜻BEPT QVFEFQFSEFSTVIBCJMJEBEQBSBSFUFa OFSMBSVFEBMMPQPES䜷BMMFWBSBQFSa EFS FM DPOUSPM EF MBT SVFEBT Z GJOBMa NFOUFUFOFSVOBDPMJTJ䜽OPTVGSJSMFa TJPOFTHSBWFT DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 348. 1BSBJNQFEJSRVFFMHBUP FMNBOHPEFM HBUP MBTUVFSDBTEFMBSVFEBZMBSVFEB EFSFQVFTUPTFNVFWBONJFOUSBTFMDPa DIFFTU䜫 FO NBSDIB HV䜫SEFMBT DPSSFDa UBNFOUF %735/$* 1SFTJ䜽OEFMPTOFVN䜫UJDPTJOBa EFDVBEB $PNQSVFCF MBT QSFTJPOFT EF JOGMBEP UBO QSPOUP DPNP TFB QPTJCMF USBT NPOUBSMBOFVN䜫UJDPEFSFQVFTUP4J FTOFDFTBSJP BKVTUFMBQSFTJ䜽OFTQFa DJGJDBEB $POTVMUF 䳖/FVN䜫UJDPT Z SVFEBT䳗FOMBQ䜫HJOB *NQPSUBOUFVUJMJDFVOBSVFEBEF SFQVFTUPDPNQBDUB TJFTU䜫 FRVJQBEP 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOBSVFa EBEFSFQVFTUPDPNQBDUBTUFOFVN䜫a UJDP EF SFQVFTUP DPNQBDUP PDVQB NFa OPTFTQBDJPRVFVOOFVN䜫UJDPEFUBNBa 䜻POPSNBMTUFOFVN䜫UJDPFTN䜫TQFa RVF䜻PRVFVOPDPOWFODJPOBMZFTU䜫EJa TF䜻BEPTPMPQBSBVTPUFNQPSBM 5/$*䜝/ 䳜 $POEV[DB DPO FYUSFNP DVJEBEP DVBOEP FNQMFF VO OFVN䜫UJDP EF SFQVFTUP DPNQBDUP MB QSJNFSB PQPSUVOJEBE FM OFVN䜫UJDP EF SFa QVFTUPDPNQBDUPEFCFS䜷BSFFNQMBa [BSTFQPSVOOFVN䜫UJDPDPOWFODJPa OBMZVOBMMBOUBBEFDVBEPT 䳜 /P TF SFDPNJFOEB DPOEVDJS FTUF WFI䜷DVMPVTBOEPN䜫TEFVOOFVN䜫a UJDPEFSFQVFTUPDPNQBDUPBMNJTa NPUJFNQP %735/$* -B SVFEB EF SFQVFTUP DPNQBDUB FT TPMP QBSB VTPT EF FNFSHFODJB /P DJSDVMF DPO FM WFI䜷DVMP B N䜫T EF LNI DPO FTUF OFVN䜫UJDP EF SFa QVFTUP DPNQBDUP DPMPDBEP M OFVa N䜫UJDP PSJHJOBM EFCF SFQBSBSTF P DBNCJBSTFMPN䜫TQSPOUPQPTJCMFQBa SBFWJUBSVOGBMMPEFMEFSFQVFTUPRVF QPES䜷B DBVTBS MFTJPOFT QFSTPOBMFT P MBNVFSUF MOFVN䜫UJDPEFSFQVFTUPDPNQBDUPEFa CFS䜷BJOGMBSTFBL1B /05 $PNQSVFCF MBT QSFTJPOFT EF JOGMBEP USBTNPOUBSFMOFVN䜫UJDPEFSFQVFTa UP4JFTOFDFTBSJP BKVTUFMBQSFTJ䜽O FTQFDJGJDBEB MVTBSVOBSVFEBEFSFQVFTUPDPNQBDa UB UFOHB FO DVFOUB MB TJHVJFOUF JOGPSa NBDJ䜽O 䳜 #BKP OJOH䝄O DPODFQUP TVQFSF MPT LNI ZB RVF VOB WFMPDJEBE N䜫T BMUBQPES䜷BEB䜻BSFMOFVN䜫UJDP 䳜 TFH䝄SFTF EF DPOEVDJS B VOB WFMPDJa EBEMPTVGJDJFOUFNFOUFCBKBQBSBFWJa UBSUPEPTMPTQFMJHSPT$VBMRVJFSQFMJa HSPFOMBDBSSFUFSB DPNPFTDPNCSPT P CBDIFT QPES䜷B EB䜻BS FM OFVN䜫UJDP EFSFQVFTUPDPNQBDUP 䳜 4J VUJMJ[B FTUF OFVN䜫UJDP DPOUJOVBa NFOUF FTUF QPES䜷B EB䜻BSTF VTUFE QPES䜷BQFSEFSFMDPOUSPMEFMWFI䜷DVMPP TVGSJSMFTJPOFTQFSTPOBMFT 䳜 /PFYDFEBMBDBSHBEFMWFI䜷DVMPN䜫YJa NB P MB DBQBDJEBE EF DBSHB RVF TF NVFTUSB FO FM GMBODP EFM OFVN䜫UJDP EFSFQVFTUPDPNQBDUP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 349. 䳜 WJUF DPOEVDJSTPCSF PCTU䜫DVMPT M EJ䜫NFUSP EFM OFVN䜫UJDP EF SFQVFTUP DPNQBDUPFTNFOPSRVFFMEFVOOFVa N䜫UJDP DPOWFODJPOBM Z SFEVDF MB IPMa HVSB FO NBTB BQSPYJNBEBNFOUF DN MPRVFQPES䜷BQSPWPDBSEB䜻PT FOFMWFI䜷DVMP 䳜 /PMMFWFBMBWBSFMWFI䜷DVMPBVOU䝄OFM EFMBWBEPBVUPN䜫UJDPTJFMOFVN䜫UJDP EFSFQVFTUPDPNQBDUPFTU䜫JOTUBMBEP 䳜 /PVUJMJDFDBEFOBTFOFMOFVN䜫UJDPEF SFQVFTUP DPNQBDUP UFNQPSBM %FCJEP B TV NFOPS UBNB䜻P MBT DBEFOBT OP TF BKVTUBS䜷BO EFCJEBNFOUF TUP QPa ES䜷BDBVTBSEB䜻PTFOFMWFI䜷DVMPZIBa DFSRVFMBTDBEFOBTTFTVFMUFO 䳜 M OFVN䜫UJDP EF SFQVFTUP DPNQBDUP OPEFCFS䜷BJOTUBMBSTFFOFMFKFEFMBOa UFSPTJTFDPOEVDFDPOOJFWFPIJFMP 䳜 /PFNQMFFFMOFVN䜫UJDPEFSFQVFTUP DPNQBDUPFOPUSPWFI䜷DVMPQPSRVFFTa UF OFVN䜫UJDP TF IB EJTF䜻BEP FTQFa DJBMNFOUFQBSBFMWFI䜷DVMPDPOFMRVF WJFOF 䳜 -BWJEB䝄UJMEFMOFVN䜫UJDPEFSFQVFTUP DPNQBDUP FT NFOPS RVF MB EF VOP OPSNBM$PNQSVFCFDPOGSFDVFODJBFM OFVN䜫UJDPEFSFQVFTUPDPNQBDUPZTJ FTU䜫EFTHBTUBEPD䜫NCJFMPQPSVOPEFM NJTNPEJTF䜻PZNPOUBEPFOMBNJTNB SVFEB 䳜 /P EFCF FNQMFBSTF FM OFVN䜫UJDP EF SFQVFTUP DPNQBDUP FO MVHBS EF PUSB SVFEBPOFVN䜫UJDPTFTU䜫OEBSPFTQFa DJBMFTQBSBMBOJFWF-BTDVCJFSUBTEF MB SVFEBT P MPT BOJMMPT BKVTUBCMFT OP EFCFOFNQMFBTFDPOFMOFVN䜫UJDPEF SFQVFTUPDPNQBDUP4JTFIBDF FTQPa TJCMF RVF TF EB䜻FO FTUPT NJTNPT DPNQPOFOUFTVPUSPT 䳜 /PVUJMJDFN䜫TEFVOOFVN䜫UJDPEFSFa QVFTUPDPNQBDUPBMNJTNPUJFNQP 䳜 /P UJSF EF VO SFNPMRVF NJFOUSBT FM WFI䜷DVMPUFOHBVOBSVFEBEFSFQVFTUP DPNQBDUBJOTUBMBEB DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 350. UJRVFUBEFMHBUP 䙓 -BFUJRVFUB EFM HBUP EFM WFI䜷DVMP QPES䜷B EJGFSJS EF MB JNBHFO 1BSB N䜫T JOGPSNBDJ䜽O WFB MB FUJRVFUB QFHBEBBMHBUP /PNCSFEFMNPEFMP $BSHBQFSNJUJEBN䜫YJNB DDJPOFFMGSFOPEFFTUBDJPOBNJFOa UPBOUFTEFVTBSFMHBUP 1BSFFMNPUPSBOUFTEFVTBSFMHBUP /PTFDPMPRVFEFCBKPEFVOWFI䜷DVMP FMFWBEPDPOVOHBUP 1VOUPT EFTJHOBEPT EFCBKP EFM CBTa UJEPS MBQPZBSFMWFI䜷DVMP MBQMBDBCBTF EFM HBUP EFCF TJUVBSTF FO QPTJDJ䜽O WFSUJDBM EFCBKP EFM QVOUP EF FMFWBa DJ䜽O 4FMFDDJPOFMBNBSDIBBUS䜫TFOWFI䜷a DVMPTDPOUSBOTNJTJ䜽ONBOVBMPDPa MPRVF MB QBMBODB EF DBNCJPT FO MB QPTJDJ䜽O1 FTUBDJPOBNJFOUP FOWFa I䜷DVMPTDPOUSBOTNJTJ䜽OBVUPN䜫UJDB -B CBTF EFM HBUP EFCFS䜷B VUJMJ[BSTF FOTVFMPGJSNF 'BCSJDBOUFEFMHBUP 'FDIBEFGBCSJDBDJ䜽O %JSFDDJ䜽OZFNQSFTBSFQSFTFOUBOUF DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 351.
- 352. $ $0/6//6.䜋5*$0%4*/'-%0 $0/-26*10%$.#*0%/6.䜋5*$04/ $3353 4*45䜋26*1%0 -FBMBTJOTUSVDDJPOFTBOUFTEFVUJMJ[BSFM FRVJQPEFDBNCJPEFOFVN䜫UJDPTFODBa SSFUFSB $PNQSFTPS #PUFMMBEFTFMMBOUF M FRVJQP EF DBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB TJSWF QBSB SFQBSBS UFNQPSBMa NFOUFFMOFVN䜫UJDP QPSMPUBOUP TPMJDJa UFMBJOTQFDDJ䜽OEFMOFVN䜫UJDPMPBOUFT QPTJCMFFOVOUBMMFSQSPGFTJPOBM,JBSFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ 6OTFMMBOUFQBSBVOOFVN䜫UJDP 4JEPTPN䜫TOFVN䜫UJDPTFTU䜫OQJOa DIBEPT OP VTF FM FRVJQP EF DBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB ZB RVF FM DPOUFOJEP EFM SFDJQJFOUF EFM QSPa EVDUPEFTFMMBEPQSPQPSDJPOBEPFOFM FRVJQPEFDBNCJPEFOFVN䜫UJDPTFO DBSSFUFSB TPMP BMDBO[B QBSB VO OFVa N䜫UJDP %735/$* 1BSFEEFMOFVN䜫UJDP /PVTFFMFRVJQPEFDBNCJPEFOFVa N䜫UJDPT FO DBSSFUFSB QBSB SFQBSBS QJODIB[PTFOMBQBSFEEFMOFVN䜫UJDP TUP QVFEF QSPWPDBS VO BDDJEFOUF EFCJEPBVOGBMMPEFMOFVN䜫UJDP %735/$* 4PMVDJ䜽OUFNQPSBM $POUJO䝄B $POUJO䝄B -MFWFTVOFVN䜫UJDPBSFQBSBSMP BOa UFTQPTJCMFMOFVN䜫UJDPQPES䜷BQFSa EFS QSFTJ䜽O EF BJSF EFTQV䜳T EF JOa GMBSMP DPO FM FRVJQP EF DBNCJP EF OFVN䜫UJDPTFODBSSFUFSB 5/$*䜝/ 䳜 MSFFNQMB[BSPSFQBSBSFMOFVN䜫a UJDPEFTQV䜳TEFVUJMJ[BSFMQSPEVDUP EF TFMMBEP QBSB OFVN䜫UJDPT BTFa H䝄SFTF EF FMJNJOBS FM QSPEVDUP EF TFMMBEPBEIFSJEPBMBQBSUFJOUFSJPS EFMOFVN䜫UJDPZMBSVFEB4JOPTF SFUJSB FM QSPEVDUP EF TFMMBEP TF QVFEFO QSPEVDJS SVJEP Z WJCSBDJPa OFT 䳜 3FDPNFOEBNPTVUJMJ[BSVOQSPEVDa UPEFTFMMBEPPSJHJOBMGBCSJDBEPQPS ,JB $POUJO䝄B DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 353. $POUJO䝄B 䳜 4J FMUFTUJHP EF BEWFSUFODJB EFM 51.4 QFSNBOFDF FODFOEJEP USBT MBVUJMJ[BDJ䜽OEFMFRVJQPEFDBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB MMFWF FM WFI䜷DVMP B VO UBMMFS QSPGFTJPOBM QBSBRVFMPJOTQFDDJPOFO,JBSFDPa NJFOEB QPOFSTF FO DPOUBDUP DPO VODFOUSPEFTFSWJDJPEJTUSJCVJEPS ,JBBVUPSJ[BEP *OUSPEVDDJ䜽O $POFMFRVJQPEFDBNCJPEFOFVN䜫UJDPT FODBSSFUFSB 5., FODBSSFUFSBQPES䜫 TFHVJS DPOEVDJFOEP BVORVF TVGSB VO QJODIB[P M TJTUFNB EFM DPNQSFTPS Z FM BHFOUF TFMMBOUFTFMMBOEFGPSNBFGFDUJWBZD䜽a NPEB MB NBZPS䜷B EF MPT QJODIB[PT FO MPT OFVN䜫UJDPT EF MPT UVSJTNPT DBVTBa EPT QPS DMBWPT V PCKFUPT TJNJMBSFT Z QVFEFWPMWFSBJOGMBSTFFMOFVN䜫UJDP TFH䝄SFTFEFRVFFMOFVN䜫UJDPFTU䜫DPa SSFDUBNFOUFTFMMBEPZEFTQV䜳TDPOEV[a DB DPO NVDIB QSFDBVDJ䜽O IBTUB LN B VOB WFMPDJEBE N䜫YJNB EF LNIIBDJBVOEJTUSJCVJEPSEFOFVN䜫UJa DPTQBSBDBNCJBSFMOFVN䜫UJDPEB䜻BEP TQPTJCMFRVFBMHVOPTOFVN䜫UJDPT TPa CSF UPEP BRVFMMPT DPO QJODIB[PT HSBOa EFTPEB䜻PTFOFMGMBODP OPQVFEBOTFa MMBSTFQPSDPNQMFUP -B Q䜳SEJEB EF QSFTJ䜽O EF BJSF QVFEF BGFDUBS OFHBUJWBNFOUF BM SFOEJNJFOUP EFMOFVN䜫UJDP 1PS FTUF NPUJWP FWJUF HJSBS FM WPMBOUF EFGPSNBCSVTDBPSFBMJ[BSPUSBTNBOJPa CSBTTJNJMBSFT TPCSFUPEPTJFMWFI䜷DVMP FTU䜫DBSHBEPPTJMMFWBVOSFNPMRVF M FRVJQP EF DBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB OP FTU䜫 EJTF䜻BEP DPNP VO N䜳UPEP EF SFQBSBDJ䜽O EF OFVN䜫UJDPT QFSNBOFOUF QPS UBOUP T䜽MP TF QVFEF VUJMJ[BSQBSBVOTPMPOFVN䜫UJDP TUBT JOTUSVDDJPOFT MF FOTF䜻BO QBTP B QBTP D䜽NP TFMMBS UFNQPSBMNFOUF VO QJODIB[PEFGPSNBTFODJMMBZFGJDB[ -FBFMBQBSUBEP䳖/PUBTTPCSFFMVTPEFM FRVJQPEFDBNCJPEFOFVN䜫UJDPTFODBa SSFUFSB䳗FOMBQ䜫HJOB %735/$* /PVUJMJDFFM5.,TJVOOFVN䜫UJDPFTa U䜫 NVZ EB䜻BEP EFCJEP B MB DPOEVDa DJ䜽O DPO VO OFVN䜫UJDP QJODIBEP P QPSVOBQSFTJ䜽OEFBJSFJOTVGJDJFOUF $POUJO䝄B DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 354. $POUJO䝄B 6UJMJDF 䝄OJDBNFOUF FM5., FO BRVFa MMBT[POBTQJODIBEBTRVFFTU䜫OMPDBa MJ[BEBT EFOUSP EF MB CBOEB EF SPEBa EVSB DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 355. $ $PNQPOFOUFTEFMFRVJQPEFDBNCJPEFOFVN䜫UJDPTFODBSSFUFSB 5., UJRVFUBEFSFTUSJDDJ䜽OEFMBWFMPDJa EBE #PUFMMBEF TFMMBOUF Z FUJRVFUB EF SFTUSJDDJ䜽OEFMBWFMPDJEBE .BOHVFSBEFMMFOBEPEFTFMMBOUFEF MBCPUFMMBEFTFMMBOUFBMBSVFEB $POFDUPSFTZDBCMFQBSBMBDPOFYJ䜽O EJSFDUBBVOBUPNBEFDPSSJFOUF 4PQPSUFQBSBMBCPUFMMBEFTFMMBOUF $PNQSFTPS *OUFSSVQUPS0/0'' *OEJDBEPSEFQSFTJ䜽ORVFNVFTUSBMB QSFTJ䜽OEFJOGMBEP 5BQBEFUPSOJMMPQBSBSFEVDJSMBQSFa TJ䜽OEFJOGMBDJ䜽OEFMOFVN䜫UJDP .BOHVFSBQBSBDPOFDUBSFMDPNQSFa TPS Z MB CPUFMMB EF TFMMBOUF P FM DPNQSFTPSZMBSVFEB -PTDPOFDUPSFT FMDBCMFZMBNBOHVFSB EFDPOFYJ䜽OFTU䜫OHVBSEBEPTFOMBDBSa DBTBEFMDPNQSFTPS DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 356. %735/$* OUFTEFVTBSFMFRVJQPEFDBNCJPEF OFVN䜫UJDPT FO DBSSFUFSB TJHB MBT JOTUSVDDJPOFTEFMBCPUFMMBEFTFMMBOa UF 2VJUFMBFUJRVFUBDPOMBSFTUSJDDJ䜽OEF WFMPDJEBE EF MB CPUFMMB EF TFMMBOUF Z Q䜳HVFMBBMWPMBOUF $PNQSVFCFMBGFDIBEFDBEVDJEBEEF MBCPUFMMBEFTFMMBOUF 6TPEFMFRVJQPEFDBNCJPEF OFVN䜫UJDPTFODBSSFUFSB %FTQFHVF MB FUJRVFUB EF M䜷NJUF EF WFMPDJEBE EFMBCPUFMMBEFTFMMBOa UF ZDPM䜽RVFMBEFOUSPEFMWFI䜷DVa MP EF GPSNB RVF TFB WJTJCMF DPNP QPS FKFNQMP FO FM WPMBOUF QBSB SFa DPSEBSMF BM DPOEVDUPS RVF OP EFCF DPOEVDJSNVZEFQSJTB 4JHBFTUSJDUBNFOUFMBTFDVFODJBFTa QFDJGJDBEB EF MP DPOUSBSJP FM QSPa EVDUPEFTFMMBEPQPES䜷BFTDBQBSTFB DBVTBEFMBBMUBQSFTJ䜽O HJUFFMCPUFEFQSPEVDUPEFTFMMBa EP UPSOJMMF MB NBOHVFSB EF DPOFYJ䜽O FOFMDPOFDUPSEFMBCPUFMMBEF TFMMBOUF TFH䝄SFTFEFRVFMBUBQBEFUPSOJMMP FTU䜫DFSSBEB %FTFOSPTRVFFMUBQ䜽OEFMBW䜫MWVMB EFM OFVN䜫UJDP EFTJOGMBEP Z FOSPTa RVFMBNBOHVFSBEFMMFOBEP EFM CPUF EF QSPEVDUP EF TFMMBEP B MB W䜫MWVMB *OUSPEV[DBMBCPUFMMBEFTFMMBOUFFO MB DBSDBTB EFM DPNQSFTPS QBSB RVFMBCPUFMMBRVFEFWFSUJDBM TFH䝄SFTFEFRVFFMDPNQSFTPSFTa U䜫BQBHBEP QPTJDJ䜽O $POFDUFFMDPNQSFTPSBMBUPNBEF DPSSJFOUFEFMWFI䜷DVMPDPOFMDBCMFZ MPTDPOFDUPSFT DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 357. / /05 6UJMJDFTPMPMBUPNBFM䜳DUSJDBEFMMBEP EFMQBTBKFSPEFMBOUFSP $PO FMFODFOEJEP BDUJWBEP P FM CPa U䜽O /(*/ 45354501 JOJDJP QBSBEB EFM NPUPS FO MB QPTJDJ䜽O 0/ BDUJWF FM DPNQSFTPS Z E䜳KFMP GVODJPOBSEVSBOUFNJOVUPTBQSPa YJNBEBNFOUFQBSBMMFOBSFMQSPEVDa UPEFTFMMBEP-BQSFTJ䜽OEFJOGMBEP EFM WFI䜷DVMP USBT FM MMFOBEP OP FT JNQPSUBOUF Z EFCFS䜫 TFS DPNQSPa CBEBZDPSSFHJEBN䜫TUBSEF QBHVFFMDPNQSFTPS %FTBDPQMF MB NBOHVFSB EFM DPOFDa UPSEFMCPUFEFQSPEVDUPEFTFMMBEP ZEFMBW䜫MWVMBEFMOFVN䜫UJDP (VBSEF EF OVFWP FM FRVJQP EF DBNCJP EFOFVN䜫UJDPTFODBSSFUFSBFOTVDPNa QBSUJNFOUP %735/$* 4JTFEFKBFMNPUPSFOGVODJPOBNJFOa UP FO VOB [POB DPO QPDB P OJOHVOB WFOUJMBDJ䜽O FMJOUFSJPSEFVOFEJGJDJP QPES䜷B TVGSJS FOWFOFOBNJFOUP QPS NPO䜽YJEPEFDBSCPOPPBTGJYJB %JTUSJCVDJ䜽OEFMTFMMBOUF $POEV[DB JONFEJBUBNFOUF VOPT _ LN P EVSBOUF VOPT NJOVa UPT QBSB EJTUSJCVJS EF GPSNB VOJa GPSNFFMQSPEVDUPEFTFMMBEPQPSFM OFVN䜫UJDP 5/$*䜝/ /PDPOEV[DBBN䜫TEFLNI4JFT QPTJCMF OPDPOEV[DBBVOBWFMPDJEBE JOGFSJPSBLNI 4J EVSBOUF MB DPOEVDDJ䜽O QFSDJCF BMa HVOB WJCSBDJ䜽O NPMFTUJB P SVJEP OP IBCJUVBM SFEV[DBMBWFMPDJEBEZDPOa EV[DBDPOQSFDBVDJ䜽OIBTUBRVFQVFa EB BQBSUBSTF EF GPSNB TFHVSB B VO MBEPEFMBDBSSFUFSBWJTFBMTFSWJDJP FODBSSFUFSBPBVOBHS䝄B $POUJO䝄B $POUJO䝄B M VUJMJ[BS FM FRVJQP EF DBNCJP EF OFVN䜫UJDPTFODBSSFUFSB FMQSPEVDUP EFTFMMBEPQPES䜷BDBVTBSNBODIBTFO MBT SVFEBT M VUJMJ[BS FM FRVJQP EF DBNCJPEFOFVN䜫UJDPTFODBSSFUFSB FMQSPEVDUPEFTFMMBEPQPES䜷BDBVTBS NBODIBTFOMBTSVFEBT1PSMPUBOUP FYUSBJHBMBTSVFEBTRVFTFIBONBOa DIBEP DPO FM QSPEVDUP EF TFMMBEP Z MMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFTJPa OBMQBSBRVFMPJOTQFDDJPOFO,JBSFa DPNJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEF JOGMBEPEFMPTOFVN䜫UJDPT %FTQV䜳TEFDPOEVDJSVOPT_LN PVOPTNJOVUPT EFUFOHBFMWFa I䜷DVMPFOVOBVCJDBDJ䜽OBEFDVBEB 6OB MB NBOHVFSB EF DPOFYJ䜽O EFM DPNQSFTPS EJSFDUBNFOUF B MB W䜫MWVMBEFMOFVN䜫UJDP $POFDUF FM DPNQSFTPS Z MB CBUFS䜷B EFM WFI䜷DVMP DPO FM DBCMF Z MPT DPa OFDUPSFT KVTUFMBQSFTJ䜽OEFJOGMBEPEFMOFVa N䜫UJDP B MB QSFTJ䜽O EFM OFVN䜫UJDP SFDPNFOEBEB$VBOEPFMFODFOEJEP DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 358. FTU䜳 BDUJWBEP SFBMJDF FM TJHVJFOUF QSPDFEJNJFOUP 1 1BSB BVNFOUBS MB QSFTJ䜽O EF JOa GMBEPFODJFOEBFMDPNQSFTPSBMB QPTJDJ䜽O * 1BSB DPNQSPCBS MB QSFTJ䜽OEFJOGMBEPBDUVBM BQBHVF NPNFOU䜫OFBNFOUF FM DPNQSFa TPS %735/$* /P EFKF GVODJPOBOEP FM DPNQSFTPS N䜫TEFNJOVUPT TJOPFMEJTQPTJa UJWP QPES䜷B TPCSFDBMFOUBSTF Z FTUP QPES䜷BQSPWPDBSEB䜻PT 5/$*䜝/ 4JOPTFNBOUJFOFMBQSFTJ䜽OEFJOGMBa EP WVFMWB B DPOEVDJS FM WFI䜷DVMP DPOTVMUF%JTUSJCVDJ䜽OEFMTFMMBOUF DPOUJOVBDJ䜽O SFQJUBMPTQBTPTB MVTPEFMFRVJQPEFDBNCJPEFOFVa N䜫UJDPT FO DBSSFUFSB QPES䜷B OP TFS FGFDUJWP QBSB MPT EB䜻PT FO MPT OFVa N䜫UJDPT NBZPSFT EF BQSPYJNBEBa NFOUFNN 1䜽OHBTF FO DPOUBDUP DPO VO UBMMFS QSPGFTJPOBMTJOPTFQVFEFSFQBSBSFM $POUJO䝄B $POUJO䝄B OFVN䜫UJDP DPO FM FRVJQP EF DBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB ,JB SFa DPNJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* -B QSFTJ䜽O EF JOGMBEP EFM OFVN䜫UJDP EFCFTFSBMNFOPTEFL1B4JOP OPTJHBDPOEVDJFOEPWJTFBMTFSWJDJP FODBSSFUFSBPBVOBHS䝄B /PUBTTPCSFFMVTPEFMFRVJQPEF DBNCJPEFOFVN䜫UJDPTFO DBSSFUFSB 䳜 TUBDJPOF FM WFI䜷DVMP B VO MBEP EF MB DBSSFUFSBEFGPSNBRVFQVFEBUSBCBa KBS DPO FM FRVJQP EF DBNCJP EF OFVa N䜫UJDPTFODBSSFUFSBBMFKBEPEFMUS䜫a GJDP$PMPRVFMPTUSJ䜫OHVMPTEFFNFSa HFODJBFO[POBTWJTJCMFTQBSBBEWFSUJS EFMQFMJHSPBMSFTUPEFMPTWFI䜷DVMPT 䳜 TFH䝄SFTF EF RVF TV WFI䜷DVMP OP TF NVFWB JODMVTP DVBOEP MP IBZB BQBSa DBEP FO VOB TVQFSGJDJF MMBOB 6UJMJDF TJFNQSFFMGSFOPEFFTUBDJPOBNJFOUP 䳜 6UJMJDF T䜽MP FM FRVJQP EF DBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB QBSB TFMMBS JOGMBS MPT OFVN䜫UJDPT EF VO UVSJTNP /PMPVUJMJDFDPOOFVN䜫UJDPTEFNPUPa DJDMFUBT CJDJDMFUBTPEFPUSPUJQP 䳜 /PSFUJSFPCKFUPTFYUSB䜻PT QPSFKFNa QMP DMBWPT P UPSOJMMPT RVF IBZBO BUSBWFTBEPFMOFVN䜫UJDP 䳜 OUFTEFVUJMJ[BSFMFRVJQPEFDBNCJP EF OFVN䜫UJDPT FO DBSSFUFSB MFB DPO BUFODJ䜽O MPT T䜷NCPMPT EF BEWFSUFODJB JNQSFTPTFOMBCPUFMMBEFTFMMBOUF 䳜 4JFMWFI䜷DVMPTFFODVFOUSBFOVOMVa HBS BCJFSUP Z BJSFBEP EFKF FM NPUPS FONBSDIB%FMPDPOUSBSJP VUJMJ[BSFM DPNQSFTPSQPES䜷BIBDFSRVFMBCBUFa S䜷BTFEFTDBSHBTF 䳜 /VODB EFKF FM FRVJQP EF DBNCJP EF OFVN䜫UJDPTFODBSSFUFSBTJOWJHJMBODJB NJFOUSBTMPVUJMJDF 䳜 /P EFKF FM DPNQSFTPS FO GVODJPOBa NJFOUP EVSBOUF N䜫T EF NJOVUPT QPES䜷BTPCSFDBMFOUBSTF 䳜 /P VUJMJDF FM FRVJQP EF DBNCJPT EF OFVN䜫UJDPT TJ MB UFNQFSBUVSB BNa CJFOUFFTJOGFSJPSB䛺$ 䳜 4JFMOFVN䜫UJDPZMBSVFEBFTU䜫OEBa 䜻BEPT OPVTFFMFRVJQPEFDBNCJPEF OFVN䜫UJDPTFODBSSFUFSBQPSNPUJWPT EFTFHVSJEBE DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 359. % %BUPTU䜳DOJDPT 7PMUBKFEFMTJTUFNB7$$ 7PMUBKFEFGVODJPOBNJFOUP7$$ *OUFOTJEBEOPNJOBMN䜫Y EFDVBEP QBSB VTPB UFNQFSBUVSBT _ 䛺$ 1SFTJ䜽ON䜫YEFGVODJPOBNJFOUPCBS 5BNB䜻P $PNQSFTPSYYNN #PUFEFQSPEVDUPEFTFMMBEPY䝂 NN 1FTPEFMDPNQSFTPS LH 7PMVNFOEFBHFOUFTFMMBOUFNM 䙓 M BHFOUF TFMMBOUF Z MBT QJF[BT EF SFQVFTUP QVFEFO PCUFOFSTF Z SFFNQMB[BSTFFOVOEJTUSJCVJEPSBVa UPSJ[BEPEFOFVN䜫UJDPTPWFI䜷DVMPT -BT CPUFMMBT WBD䜷BT EFM BHFOUF TFa MMBOUF QVFEFO EFTFDIBSTF FO DBTB -PT SFTJEVPT M䜷RVJEPT QSPDFEFOUFT EFM BHFOUF TFMMBOUF EFCFS䜷BO TFS EFTFDIBEPT QPS FM EJTUSJCVJEPS EF OFVN䜫UJDPT P WFI䜷DVMPT TFH䝄O MBT SFHVMBDJPOFT MPDBMFT EF FMJNJOBDJ䜽O EFSFTJEVPT DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 360. 3 3.0-26 4FSWJDJPEFSFNPMRVF ODBTPEFUFOFSRVFSFNPMDBSFMWFI䜷a DVMP SFDPNFOEBNPTRVFMPTPMJDJUFBVO UBMMFS,JBBVUPSJ[BEPPBVOTFSWJDJPDPa NFSDJBMEFHS䝄BT1BSBFWJUBSEB䜻PT FT OFDFTBSJPMMFWBS B DBCP DPSSFDUBNFOUF MPT QSPDFEJNJFOUPT EF FMFWBDJ䜽O Z SFa NPMRVFEFMWFI䜷DVMP4FSFDPNJFOEBVUJa MJ[BS VOB QMBUBGPSNB EF SVFEBT P QMBOB T QPTJCMF SFNPMDBS FM WFI䜷DVMP DPO MBT SVFEBT USBTFSBT FO FM TVFMP TJO QMBUBa GPSNBEFSVFEBT ZMBTSVFEBTEFMBOUFa SBTFMFWBEBTEFMTVFMP 4J VOB EF MBT SVFEBT DBSHBEBT P VO DPNQPOFOUFEFMBTVTQFOTJ䜽OQSFTFOUB EB䜻PTPTJTFSFNPMDBFMWFI䜷DVMPDPOMBT SVFEBTEFMBOUFSBTTPCSFFMTVFMP DPMPa RVFVOBQMBUBGPSNBSPEBOUFEFCBKPEF MBTSVFEBTEFMBOUFSBT $VBOEP VO TFSWJDJP DPNFSDJBM EF HS䝄BT SFNPMDB FM WFI䜷DVMP Z OP TF FNQMFBO QMBUBGPSNBTEFEPTSVFEBT MBQBSUFEFa MBOUFSBEFMWFI䜷DVMPEFCFS䜷BTJFNQSFFTa UBSFMFWBEB OPMBUSBTFSB 5/$*䜝/ 䳜 /P SFNPMRVF FM WFI䜷DVMP IBDJB BUS䜫TDPOMBTSVFEBTEFMBOUFSBTFO FMTVFMPZBRVFQPES䜷BFTUSPQFBSFM WFI䜷DVMP 䳜 /PSFNPMRVFDPOVOSFNPMDBEPSEF FTMJOHBT 6UJMJDF VO FRVJQBNJFOUP EF FMFWBDJ䜽O EF SVFEBT P VOB QMBa UBGPSNBQMBOB $VBOEPSFNPMDBTVWFI䜷DVMPFODBTPEF FNFSHFODJBTJOQMBUBGPSNBEFSVFEBT $PMPRVF MB MMBWF EF DPOUBDUP FO MB QPTJDJ䜽O$$ $PMPRVFMBQBMBODBEFDBNCJPTFOMB QPTJDJ䜽O/ QVOUPNVFSUP 4VFMUFFMGSFOPEFFTUBDJPOBNJFOUP 5/$*䜝/ O DBTP EF OP DPMPDBS MB QBMBODB EF DBNCJPTFO/ QVOUPNVFSUP QPES䜷B PDBTJPOBSEB䜻PTJOUFSOPTBMUSBOTFKF DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 361. ( (BODIPEFSFNPMRVF EFTNPOUBCMF TJFTU䜫FRVJQBEP CSBFM QPSU䜽O USBTFSP Z TBRVF FM HBODIP EF SFNPMRVF EF MB DBKB EF IFSSBNJFOUBT YUSBJHBUPEBMBDVCJFSUBQSFTJPOBOa EP MB QBSUF TVQFSJPS GSPOUBM EF MB DVCJFSUBFOFMQBSBDIPRVFT *OTUBMF FM HBODIP EF SFNPMRVF HJa S䜫OEPMP FO TFOUJEP IPSBSJP FO FM BHVKFSP IBTUBRVFFTU䜳UPUBMNFOUF TFHVSP 3FUJSFFMHBODIPEFSFNPMRVFZDPa MPRVFMBDVCJFSUBUSBTTVVUJMJ[BDJ䜽O 3FNPMRVFEFMWFI䜷DVMPFOVOB FNFSHFODJB 4JFTOFDFTBSJPSFNPMDBSFMWFI䜷DVMPFO VOB FNFSHFODJB SFDPNFOEBNPT RVF BDVEBBVODPODFTJPOBSJPBVUPSJ[BEPEF ,JBPBVOTFSWJDJPEFHS䝄BQSPGFTJPOBM 4JFMTFSWJDJPDPNFSDJBMEFHS䝄BTOPFTU䜫 EJTQPOJCMF FMWFI䜷DVMPQVFEFSFNPMDBSTF UFNQPSBMNFOUF DPO VO DBCMF P DBEFOB TVKFUBBMFOHBODIFEFMSFNPMRVFEFCBKP EFMBQBSUFEFMBOUFSB PUSBTFSB EFMWFa I䜷DVMPYUSFNFMBTQSFDBVDJPOFTDVBOa EP SFNPMRVF FM WFI䜷DVMP 6O DPOEVDUPS EFCFQFSNBOFDFSFOFMWFI䜷DVMPSFNPMa DBEPQBSBEJSJHJSMPZBDDJPOBSMPTGSFOPT 3FNPMDBS EF FTUB NBOFSB T䜽MP EFCF SFBMJ[BSTF FO TVQFSGJDJFT EVSBT DPSUBT EJTUBODJBT Z WFMPDJEBEFT CBKBT TJNJTa NP MBTSVFEBT MPTFKFT FMUSFOFM䜳DUSJa DP MBEJSFDDJ䜽OZMPTGSFOPTUJFOFORVF FTUBSFOCVFOBTDPOEJDJPOFT 䳜 /PFNQMFFFMFOHBODIFEFMSFNPMRVF QBSBTBDBSVOWFI䜷DVMPEFMCBSSP BSFa OBVPUSBTDPOEJDJPOFTEFMBTDVBMFTFM WFI䜷DVMP OP QVFEF TBMJS NFEJBOUF TV QSPQJBGVFS[B 䳜 /P SFNPMRVF WFI䜷DVMPT N䜫T QFTBEPT RVFFMRVFSFBMJ[BFMSFNPMDBEP 䳜 -PT DPOEVDUPSFT EF BNCPT WFI䜷DVMPT EFCFS䜷BODPNVOJDBSTFDPOGSFDVFODJB 5/$*䜝/ UFVOBDJOUBBMFOHBODIF $POUJO䝄B DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 362. $POUJO䝄B NQMFBS VOBQBSUF EFM WFI䜷DVMP FO MVHBS EFM FOHBODIF QPES䜷B DBVTBSEB䜻PTFOMBDBSSPDFS䜷BEFM DPDIF NQMFFT䜽MPVODBCMFPVOBDBEFa OB FTQFD䜷GJDBT QBSB FTUF VTP TFHVSFCJFOFMDBCMFPMBDBEFOB BMFOHBODIF 䳜 OUFTEFSFBMJ[BSVOSFNPMDBEPFODBa TPEFFNFSHFODJB DPNQSVFCFRVFFM HBODIPOPFTU䜫EB䜻BEPPSPUP 䳜 TFHVSF CJFO FM DBCMF EF SFNPMRVF P MBDBEFOBBMFOHBODIF 䳜 /PMFE䜳TBDVEJEBTBMFOHBODIFQM䜷a RVFMB EF GPSNB DPOUJOVB Z DPO VOB GVFS[BVOJGPSNF 䳜 1BSBFWJUBSEB䜻BSFMFOHBODIF OPUJSF EFTEF VO MBUFSBM P 䜫OHVMP WFSUJDBM 4JFNQSFUJSFFOM䜷OFBSFDUB %735/$* YUSFNFMBTQSFDBVDJPOFTDVBOEPSFa NPMRVFFMWFI䜷DVMP $POUJO䝄B $POUJO䝄B 䳜 WJUF BSSBORVFT SFQFOUJOPT P NBa OJPCSBT JSSFHVMBSFT RVF QPES䜷BO DBVTBSQSFTJ䜽OFOFMFOHBODIF FO FM DBCMF P FO MB DBEFOB M FOHBOa DIFZFMDBCMFPDBEFOBEFSFNPMa RVF QPES䜷BO SPNQFSTF Z QSPWPDBS MFTJPOFTEFHSBWFEBE 䳜 4JOPFTQPTJCMFNPWFSFMWFI䜷DVMP OP MP GVFSDF Z OP DPOUJO䝄F DPO TV SFNPMRVF 3FDPNFOEBNPT RVF DPOUBDUF DPO VO UBMMFS ,JB BVUPSJa [BEPPDPOVOTFSWJDJPDPNFSDJBMEF HS䝄BT 䳜 3FNPMRVF FM WFI䜷DVMP FO EJSFDDJ䜽O MPN䜫TSFDUBQPTJCMF 䳜 .BOU䜳OHBTF BMFKBEP EFM WFI䜷DVMP EVSBOUFFMSFNPMRVF 䳜 6UJMJDFVOBDJOUBEFSFNPMRVFEFNFa OPTEFNEFMPOHJUVEUFVOUSP[P EFUFMBCMBODPPSPKP EFBQSPYDN EF BODIP FO NFEJP EF MB DJOUB QBSB IBDFSMBN䜫TWJTJCMF 䳜 $POEV[DB DPO DVJEBEP QBSB RVF MB DVFSEBOPTFBGMPKF 1SFDBVDJPOFTQBSBSFNPMDBSFODBTP EFFNFSHFODJB 䳜 $PMPRVF FM JOUFSSVQUPS EF FODFOEJEP FO$$QBSBRVFFMWPMBOUFEFEJSFDa DJ䜽OOPTFCMPRVFF 䳜 $PMPRVF MB QBMBODB EF DBNCJP FO MB QPTJDJ䜽O/ QVOUPNVFSUP 䳜 2VJUFFMGSFOPEFFTUBDJPOBNJFOUP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 363. 䳜 1JTFFMGSFOPDPONBZPSGVFS[BEFMB IBCJUVBMZBRVFIBCS䜫SFEVDJEPFMSFOa EJNJFOUPEFGSFOBEB 䳜 4FSFRVFSJS䜫 NBZPS FTGVFS[P BM NBa OFKBSFMWPMBOUFQPSRVFFMTJTUFNBEF EJSFDDJ䜽OBTJTUJEBFTUBS䜫EFTBDUJWBEP 䳜 4J DPOEVDF EVSBOUF NVDIP UJFNQP DVFTUB BCBKP MPT GSFOPT TF QVFEFO SFDBMFOUBSZQVFEFSFEVDJSTFFMSFOEJa NJFOUPEFGSFOBEB%FU䜳OHBTFBNFa OVEPQBSBFOGSJBSMPTGSFOPT 5/$*䜝/ 5SBOTNJTJ䜽OBVUPN䜫UJDB 䳜 4JSFNPMDBFMWFI䜷DVMPDPOUPEBTMBT SVFEBT TPCSF FM TVFMP T䜽MP QVFEF SFNPMDBSTFQPSMBQBSUFEFMBOUFSB $PNQSVFCF RVF MB USBOTNJTJ䜽O TF FODVFOUSF FO QVOUP NVFSUP TFa H䝄SFTFEFRVFFMWPMBOUFFTU䜫EFTa CMPRVFBEPDPMPDBOEPFMJOUFSSVQUPS EF FODFOEJEP FO MB QPTJDJ䜽O $$ 6ODPOEVDUPSEFCFQFSNBOFDFSFO FMWFI䜷DVMPSFNPMDBEPQBSBEJSJHJSFM WFI䜷DVMPZBDDJPOBSMPTGSFOPT $POUJO䝄B $POUJO䝄B 䳜 1BSB FWJUBS EB䜻PT TFSJPT FO MB USBOTNJTJ䜽O BVUPN䜫UJDB MJNJUF MB WFMPDJEBEEFMWFI䜷DVMPBLNIZ DPOEV[DB NFOPT EF LN BM SFa NPMDBSVOWFI䜷DVMP 䳜 OUFT EF SFNPMDBS FM WFI䜷DVMP DPNQSVFCFQPTJCMFTGVHBTEFMM䜷RVJa EP EF MB USBOTNJTJ䜽O BVUPN䜫UJDB EFCBKP EF TV WFI䜷DVMP O DBTP EF GVHB EFM M䜷RVJEP EF MB USBOTNJTJ䜽O BVUPN䜫UJDB TF EFCF VUJMJ[BS VO FRVJQP EF QMBUBGPSNB QMBOB P EF QMBUBGPSNBSPEBOUF DUVBDJ䜽OFODBTPEFFNFSHFODJB
- 364. $ $0.0%*%%%.3(/$* 4*45䜋26*1%0 YJTUFO BMHVOPTFMFNFOUPT EF FNFSa HFODJB FO FM WFI䜷DVMP QBSB BZVEBSMF B SFTQPOEFSBOUFVOBTJUVBDJ䜽OEFFNFSa HFODJB YUJOUPS 4JTFQSPEVDFVOQFRVF䜻PGVFHPZTBCF D䜽NPNBOFKBSVOFYUJOUPS QSPTJHBDPO FYUSFNPDVJEBEP 5JSFEFMQBTBEPSTJUVBEPFOMBQBSUF TVQFSJPSEFMFYUJOUPSRVFNBOUJFOF MBNBOJMMBCMPRVFBEBFODBTPEFRVF TFQSFTJPOFQPSFSSPS %JSJKB MB CPRVJMMB IBDJB MB CBTF EFM GVFHP 4JU䝄FTF BQSPYJNBEBNFOUF B VOB EJTUBODJBEF N QJFT EFMGVFa HPZBQSJFUFMBNBOJMMBQBSBEFTDBSa HBSFMFYUJOUPS4JTVFMUBMBNBOJMMB MBEFTDBSHBDFTBS䜫 .VFWB MB CPRVJMMB IBDJB EFMBOUF Z BUS䜫TFOEJSFDDJ䜽OBMBCBTFEFMGVFa HP5SBTFYUJOHVJSFMGVFHP QFSNBa OF[DBBUFOUPFODBTPEFRVFWVFMWB BTVSHJS .BMFU䜷OEFQSJNFSPTBVYJMJPT OFMNBMFU䜷OTFFODVFOUSBOEFUFSNJOBa EPT FMFNFOUPT DPNP UJKFSBT WFOEBT FTQBSBESBQP FUD QBSBQSFTUBSMPTQSJa NFSPTBVYJMJPTBVOBQFSTPOBIFSJEB 5SJ䜫OHVMPSFGMFDUPS $PMPRVF FM USJ䜫OHVMP SFGMFDUPS FO MB DBa SSFUFSB QBSB BWJTBS B MPT WFI䜷DVMPT RVF QBTBO EVSBOUF VOB FNFSHFODJB DPNP DVBOEPFMWFI䜷DVMPFTU䜫BQBSDBEPFOMB DVOFUBQPSBMH䝄OQSPCMFNB .BO䜽NFUSPQBSBOFVN䜫UJDPT TJ FTU䜫FRVJQBEP -PT OFVN䜫UJDPT QJFSEFO OPSNBMNFOUF BMHP EF BJSF FO FM VTP EJBSJP Z EFCFO B䜻BEJSTF QFRVF䜻BT DBOUJEBEFT EF BJSF QFSJ䜽EJDBNFOUF QFSP FTUP OP RVJFSF EFDJS RVF MB SVFEB FTU䜳 QJODIBEB TJOP RVFFTVOEFTHBTUFOPSNBM$PNQSVFCF TJFNQSF MB QSFTJ䜽O EF MPT OFVN䜫UJDPT DVBOEPFTU䜳OGS䜷PT ZBRVFMBQSFTJ䜽OEF MPTOFVN䜫UJDPTBVNFOUBDPOMBUFNQFa SBUVSB 1BSB DPNQSPCBS MB QSFTJ䜽O EF MPT OFVa N䜫UJDPT TJHB MBT TJHVJFOUFT JOTUSVDDJPa OFT %FTFOSPTRVF MB UBQB EF MB W䜫MWVMB EF JOGMBEP RVF FTU䜫 VCJDBEB FO MB MMBOUBEFMOFVN䜫UJDP 1VMTFZNBOUFOHBQVMTBEPFMJOEJDBa EPSDPOUSBMBW䜫MWVMBEFMOFVN䜫UJDP 4FFTDBQBS䜫BMH䝄OBJSFDVBOEPFNa QJFDFZTFFTDBQBS䜫N䜫TTJOPQVMTB GJSNFNFOUFFMDBMJCSBEPS M DJFSSF EF TFHVSJEBE BDUJWBS䜫 FM DBMJCSBEPS -FBMBQSFTJ䜽OEFMPTOFVN䜫UJDPTFO FMJOEJDBEPSQBSBTBCFSTJMBQSFTJ䜽O EFMPTOFVN䜫UJDPTFTBMUBPCBKB KVTUFMBQSFTJ䜽OEFMPTOFVN䜫UJDPT B MB QSFTJ䜽O FTQFDJGJDBEB $POTVMUF 䳖/FVN䜫UJDPTZSVFEBT䳗FOMBQ䜫HJOB 7VFMWBBDPMPDBSMBUBQBEFMBW䜫MWVa MBEFJOGMBEP DUVBDJ䜽OFODBTPEFFNFSHFOa DJB
- 365. $PNQBSUJNFOUPEFMNPUPS 4FSWJDJPTEFNBOUFOJNJFOUP 3FTQPOTBCJMJEBEEFMQSPQJFUBSJP 1SFDBVDJPOFTEFMNBOUFOJNJFOUPQPSQBSUFEFM QSPQJFUBSJP .BOUFOJNJFOUPQPSQBSUFEFMQSPQJFUBSJP $BMFOEBSJPEFNBOUFOJNJFOUPQPSQBSUFEFMQSPa QJFUBSJP 4FSWJDJPEFNBOUFOJNJFOUPQSPHSBNBEP 1SFDBVDJ䜽OEFMTFSWJDJPEFNBOUFOJNJFOUPQSPa HSBNBEP $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSB NPUPSEFHBTPMJOBQBSBVSPQBFYDFQUP3VTJB .BOUFOJNJFOUPFODPOEJDJPOFTEFVTPBEWFSTBT 1BSBNPUPSFTEFHBTPMJOBQBSBVSPQB FYa DFQUP3VTJB $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSB NPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3VTJB .BOUFOJNJFOUPFODPOEJDJPOFTEFVTPBEWFSTBT QBSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JOa DMVJEB3VTJB YQMJDBDJ䜽OEFMPTFMFNFOUPTEFMDBMFOEBSJPEF NBOUFOJNJFOUP DFJUFEFMNPUPSZGJMUSP $PSSFBTEFUSBOTNJTJ䜽O 'JMUSPEFMDPNCVTUJCMF QBSBHBTPMJOB $POEVDUPT NBOHVFSBTZDPOFYJPOFTEFDPNCVTUJCMF 5VCPEFWBQPS QBSBNPUPSFTEFHBTPMJOBZ''7 ZUBQBEFMMFOBEPEFDPNCVTUJCMF .BOHVFSBEFWFOUJMBDJ䜽OEFMD䜫SUFSEFWBD䜷P 'JMUSPEFMQVSJGJDBEPSEFBJSF #VK䜷BT QBSBNPUPSEFHBTPMJOB ''7 )PMHVSBEFMBW䜫MWVMB QBSBNPUPSFT,BQQB - 5(%* ,BQQB -.1*Z''7 4JTUFNBEFSFGSJHFSBDJ䜽O 3FGSJHFSBOUF -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB $POEVDUPTZNBOHVFSBTEFMGSFOP -䜷RVJEPEFGSFOPTFNCSBHVF 'SFOPEFFTUBDJPOBNJFOUP 1BTUJMMBT GSFOPT QJO[BTZSPUPSFTEFMGSFOP 1FSOPTEFNPOUBKFEFMBTVTQFOTJ䜽O $BKBEFMBEJSFDDJ䜽O DPOFYJPOFTZS䜽UVMBEFMCSBa [PJOGFSJPSGVOEBT 䜋SCPMFTEFMBUSBOTNJTJ䜽OZGVOEBT 3FGSJHFSBOUFEFMBJSFBDPOEJDJPOBEP DFJUFEFMNPUPS $PNQSPCBDJ䜽OEFMOJWFMEFBDFJUFEFMNPUPS $BNCJPEFMBDFJUFEFMNPUPSZFMGJMUSP 3FGSJHFSBOUFEFMNPUPS ,BQQB -.1* HBTPMJa OB ''7 ,BQQB -.1* $PNQSPCBDJ䜽OEFMOJWFMEFSFGSJHFSBOUF $BNCJPEFMSFGSJHFSBOUF 3FGSJHFSBOUFEFMNPUPS ,BQQB -5(%* $PNQSPCBDJ䜽OEFMOJWFMEFSFGSJHFSBOUF $BNCJPEFMSFGSJHFSBOUF -䜷RVJEPEFGSFOPTFNCSBHVF $PNQSPCBDJ䜽OEFMM䜷RVJEPEFMFNCSBHVFZEFGSFOPT -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB . .BOUFOJNJFOUP
- 366. $PNQSPCBDJ䜽OEFMOJWFMEFM䜷RVJEPEFMBUSBOTNJa TJ䜽OBVUPN䜫UJDB $BNCJPEFMM䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB -䜷RVJEPMJNQJBQBSBCSJTBT $PNQSPCBDJ䜽OEFMOJWFMEFM䜷RVJEPMJNQJBQBSBCSJTBT 'SFOPEFFTUBDJPOBNJFOUP $PNQSPCBDJ䜽OEFMGSFOPEFFTUBDJPOBNJFOUP 1VSJGJDBEPSEFBJSF,BQQB -.1* HBTPMJOB ''7 ,BQQB -.1* HBTPMJOB $BNCJPEFMGJMUSP 1VSJGJDBEPSEFBJSF ,BQQB -5(%* $BNCJPEFMGJMUSP 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS $PNQSPCBDJ䜽OEFMGJMUSP TDPCJMMBTEFMMJNQJBQBSBCSJTBT $PNQSPCBDJ䜽OEFMBTFTDPCJMMBT $BNCJPEFMBTFTDPCJMMBT #BUFS䜷B 1BSBVOGVODJPOBNJFOUP䜽QUJNPEFMBCBUFS䜷B UJRVFUBEFDBQBDJEBEEFMBCBUFS䜷B 3FDBSHBEFMBCBUFS䜷B MFNFOUPTBSFBKVTUBS /FVN䜫UJDPTZSVFEBT $VJEBEPEFMPTOFVN䜫UJDPT 1SFTJ䜽OSFDPNFOEBEBEFJOGMBEPEFMPTOFVN䜫a UJDPTFOGS䜷P $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEFJOGMBEPEFMPT OFVN䜫UJDPT 3PUBDJ䜽OEFMPTOFVN䜫UJDPT MJOFBNJFOUPEFMBTSVFEBTZFRVJMJCSJPEFMPT OFVN䜫UJDPT $BNCJPEFMPTOFVN䜫UJDPT $BNCJPEFMBTSVFEBT 5SBDDJ䜽OEFMOFVN䜫UJDP .BOUFOJNJFOUPEFMOFVN䜫UJDP UJRVFUBFOMBQBSFEEFMOFVN䜫UJDP /FVN䜫UJDPEFDPDJFOUFBMUVSBBODIPTFDDJPOBMCBKP 'VTJCMFT $BNCJPEFGVTJCMFTFOFMQBOFMJOUFSJPS $BNCJPEFMGVTJCMFEFMDPNQBSUJNFOUPEFMNPUPS %FTDSJQDJ䜽OEFMQBOFMEFGVTJCMFTSFM䜳T #PNCJMMBT 1SFDBVDJ䜽OBMDBNCJBSMBTCPNCJMMBT #PNCJMMBEFMBMV[EFQPTJDJ䜽O EFMBOUFSB #PNCJMMBEFMBMV[EFQPTJDJ䜽O USBTFSB #PNCJMMBEFMBMV[EFQPTJDJ䜽O MBUFSBM $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBSSFa UFSBDSVDF GBSPEFUJQP $BNCJPEFMBCPNCJMMBEFMBMV[EFQPTJDJ䜽O GBSP EFUJQP $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFEFMBOUFa SP GBSPEFUJQP $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBSSFa UFSBDSVDF GBSPUJQP# $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFEFMBOUFa SP UJQP-% $BNCJPEFMBCPNCJMMBEFMBMV[BOUJOJFCMBEFMBOUFSB $BNCJPEFMBCPNCJMMBEFMBMV[EFQPTJDJ䜽O %3- UJQP-%
- 367. $BNCJPEFMBCPNCJMMB%3- UJQPCPNCJMMB $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFSFQFUJa EPSMBUFSBM UJQP-% $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFSFQFUJa EPSMBUFSBM UJQPCPNCJMMB $BNCJPEFMBCPNCJMMBEFMQJMPUPUSBTFSPZEFGSFOP $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFUSBTFSP $BNCJPEFMBCPNCJMMBEFMQJMPUPUSBTFSPZEF GSFOP UJQP-% $BNCJPEFMBCPNCJMMBEFMBMV[EFNBSDIBBUS䜫T $BNCJPEFMBCPNCJMMBEFMBMV[BOUJOJFCMBUSBTFSB $BNCJPEFMBCPNCJMMBEFMBUFSDFSBMV[EFGSFOP $BNCJPEFMBCPNCJMMBEFMBMV[EFMBNBUS䜷DVMB $BNCJPEFMBCPNCJMMBEFMBMV[EFMFDUVSB $BNCJPEFMBCPNCJMMBEFMBMV[EFMFTQFKPEF DPSUFT䜷B $BNCJPEFMBCPNCJMMBEFMBMV[EFMIBCJU䜫DVMP $BNCJPEFMBCPNCJMMBEFMBMV[EFMBHVBOUFSB $BNCJPEFMBCPNCJMMBEFMIBCJU䜫DVMPEFMQPSU䜽O USBTFSP 0SJFOUBDJ䜽OEFMPTGBSPTZEFMPTGBSPTBOUJOJFCMB QBSBVSPQB $VJEBEPEFMBTQFDUPFYUFSJPS $VJEBEPEFMFYUFSJPS $VJEBEPEFMJOUFSJPS 4JTUFNBEFDPOUSPMEFFNJTJPOFT 4JTUFNBEFDPOUSPMEFFNJTJ䜽OEFMD䜫SUFS 4JTUFNBEFDPOUSPMEFFNJTJ䜽OFWBQPSBUJWB 4JTUFNBEFDPOUSPMEFFNJTJ䜽OEFFTDBQF
- 368. $ $0.135*./50%-.0503 %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS 5BQBEFMBCPDBEFMMFOBEPEFBDFJUF EFMNPUPS %FQ䜽TJUP EFM M䜷RVJEP EF GSFOPT FNCSBHVF 'JMUSPEFBJSF $BKBEFGVTJCMFT 5FSNJOBMOFHBUJWPEFMBCBUFS䜷B 5FSNJOBMQPTJUJWPEFMBCBUFS䜷B 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPS 5BQ䜽OEFMSBEJBEPS %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJa TBT 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEP EFMBDBKBEFDBNCJPTBVUPN䜫UJDB .BOUFOJNJFOUP
- 369. %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS 5BQBEFMBCPDBEFMMFOBEPEFBDFJUF EFMNPUPS %FQ䜽TJUPEFM M䜷RVJEP EF GSFOPT FNCSBHVF 'JMUSPEFBJSF $BKBEFGVTJCMFT 5FSNJOBMOFHBUJWPEFMBCBUFS䜷B 5FSNJOBMQPTJUJWPEFMBCBUFS䜷B 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPS 5BQ䜽OEFMSBEJBEPS %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJa TBT 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEP EFMBDBKBEFDBNCJPTBVUPN䜫UJDB .BOUFOJNJFOUP
- 370. %FQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS 5BQBEFMBCPDBEFMMFOBEPEFBDFJUF EFMNPUPS %FQ䜽TJUPEFM M䜷RVJEP EF GSFOPT FNCSBHVF 'JMUSPEFBJSF $BKBEFGVTJCMFT 5FSNJOBMOFHBUJWPEFMBCBUFS䜷B 5FSNJOBMQPTJUJWPEFMBCBUFS䜷B 7BSJMMBEFOJWFMEFMBDFJUFEFMNPUPS 5BQ䜽OEFMSBEJBEPS %FQ䜽TJUPEFM䜷RVJEPEFMMBWBQBSBCSJa TBT 7BSJMMBNFEJEPSBEFOJWFMEFMM䜷RVJEP EFMBDBKBEFDBNCJPTBVUPN䜫UJDB %FQ䜽TJUPEFHBTPMJOB .BOUFOJNJFOUP
- 371. 4 437*$*04%./5/*.*/50 %FCFUFOFSFMNBZPSDVJEBEPQBSBFWJa UBS EB䜻PT FOFM WFI䜷DVMP P MFTJPOFT BM SFBMJ[BS MPT USBCBKPT EF NBOUFOJNJFOUP PMPTQSPDFEJNJFOUPTEFDPNQSPCBDJ䜽O 6O NBOUFOJNJFOUP JOBEFDVBEP JODPNa QMFUP P JOTVGJDJFOUF QVFEF QSPWPDBS QSPCMFNBTEFGVODJPOBNJFOUPFOTVWFa I䜷DVMPRVFQPES䜷BOQSPWPDBSEB䜻PTFOFM WFI䜷DVMP VOBDDJEFOUFPMFTJPOFT 3FTQPOTBCJMJEBEEFMQSPQJFUBSJP /05 M QSPQJFUBSJP FT SFTQPOTBCMF EF HVBSEBS MB EPDVNFOUBDJ䜽O EF MPT TFSWJDJPTEFNBOUFOJNJFOUP 4PMJDJUF FM NBOUFOJNJFOUP EFM WFI䜷DVMP FOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTUSJCVJa EPS,JBBVUPSJ[BEP %FCF HVBSEBS MPT EPDVNFOUPT SFMBDJPa OBEPT DPO FM DPSSFDUP NBOUFOJNJFOUP RVF TF IB SFBMJ[BEP FO TV WFI䜷DVMP TFa H䝄OMBTUBCMBTEFMTFSWJDJPEFNBOUFOJa NJFOUP QSPHSBNBEP RVF TF NVFTUSBO FO 䳖$BMFOEBSJP EF NBOUFOJNJFOUP OPSa NBM䳗FOMBQ䜫HJOB /FDFTJUB JOGPSNBDJ䜽O QBSB FTUBCMFDFS RVF IB DVNQMJEP DPO MPT SFRVJTJUPT EF NBOUFOJNJFOUPRVFMFFYJHFMBHBSBOU䜷B EFTVWFI䜷DVMP -BJOGPSNBDJ䜽OEFUBMMBEBEFMBHBSBOU䜷B MBQVFEFDPOTVMUBSFOFMMJCSPEFNBOUFa OJNJFOUPZHBSBOU䜷B -BT SFQBSBDJPOFT Z MPT BKVTUFT OFDFTBa SJPT QSPWPDBEPT QPS VO NBOUFOJNJFOUP JOBEFDVBEP P VOB GBMUB EF NBOUFOJa NJFOUPOPFTU䜫ODVCJFSUPTQPSMBHBSBOa U䜷BEFTVWFI䜷DVMP 1SFDBVDJPOFTEFMNBOUFOJNJFOUP QPSQBSUFEFMQSPQJFUBSJP 6O NBOUFOJNJFOUP JODPNQMFUP P JODPa SSFDUPQVFEFDBVTBSQSPCMFNBTOFTUB TFDDJ䜽O TF PGSFDFO JOTUSVDDJPOFT TPCSF UFNBT EF NBOUFOJNJFOUP G䜫DJMFT EF SFBMJ[BS /05 6O NBOUFOJNJFOUP JODPSSFDUP QPS QBSUF EFM QSPQJFUBSJP EVSBOUF FM QFa SJPEP EF HBSBOU䜷B QVFEF BGFDUBS MB DPCFSUVSBEFMBNJTNB1BSBN䜫TEFa UBMMFT DPOTVMUF FM MJCSP EF NBOUFOJa NJFOUPZHBSBOU䜷BRVFTFMFFOUSFHB $POUJO䝄B $POUJO䝄B DPO FM WFI䜷DVMP 4J OP FTU䜫 TFHVSP BDFSDB EF DVBMRVJFS QSPDFEJNJFOUP EFNBOUFOJNJFOUP TPMJDJUFFMNBOUFa OJNJFOUP EFM TJTUFNB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP %735/$* 5SBCBKPTEFNBOUFOJNJFOUP 䳜 -PTUSBCBKPTEFNBOUFOJNJFOUPFO FM WFI䜷DVMP QVFEFO TFS QFMJHSPTPT 1VFEFTVGSJSMFTJPOFTHSBWFTNJFOa USBT SFBMJ[B BMHVOPT QSPDFEJNJFOa UPTEFNBOUFOJNJFOUP4JDBSFDFEF DPOPDJNJFOUPTZMBFYQFSJFODJBOFa DFTBSJPTPEFMBTIFSSBNJFOUBTZFM FRVJQBNJFOUPBEFDVBEPTQBSBSFBa MJ[BS FM USBCBKP TPMJDJUF MB SFQBSBa DJ䜽OEFMTJTUFNBFOVOUBMMFSQSPGFa TJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JB BVUPSJ[BEP $POUJO䝄B .BOUFOJNJFOUP
- 372. $POUJO䝄B 䳜 5SBCBKBSCBKPFMDBQ䜽DPOFMNPUPS FONBSDIBFTQFMJHSPTPTUPEBW䜷B N䜫TQFMJHSPTPTJMMFWBKPZBTPSPQB TVFMUB TUBTQVFEFO FOHBODIBSTF DPO MBT QJF[BT N䜽WJMFT Z QSPWPDBS MFTJPOFT1PSFTUBSB[䜽OTJFTOFDFa TBSJPPQFSBSFMNPUPSNJFOUSBTTF USBCBKBCBKPFMDBQ䜽 BTFH䝄SFTFEF RVF OP MMFWB KPZBT FTQFDJBMNFOUF BOJMMPT CSB[BMFUFT SFMPKFT Z DPMMBa SFT ZDPSCBUBT CVGBOEBTZEFN䜫T SPQB TVFMUB BOUFT EF BDFSDBSTF BM NPUPS P MPT WFOUJMBEPSFT EF SFGSJa HFSBDJ䜽O 5/$*䜝/ 䳜 /PDPMPRVFPCKFUPTQFTBEPTOJBQMJa RVF VOB GVFS[B FYDFTJWB TPCSF MB DVCJFSUBEFMNPUPS TJFTU䜫FRVJQBa EP OJFOQJF[BTSFMBDJPOBEBTDPOFM DPNCVTUJCMF $POUJO䝄B $POUJO䝄B 䳜 MSFWJTBSFMTJTUFNBEFDPNCVTUJa CMF DPOEVDUPT EF DPNCVTUJCMF Z EJTQPTJUJWPT EF JOZFDDJ䜽O EF DPNa CVTUJCMF Q䜽OHBTFFODPOUBDUPDPO VOUBMMFSQSPGFTJPOBM,JBSFDPNJFOa EB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 /PDPOEV[DBNVDIPUJFNQPDPOMB UBQB EFM NPUPS TJ FTU䜫 FRVJQBEP EFTNPOUBEB 䳜 M DPNQSPCBS FM DPNQBSUJNFOUP NPUPS OPTFBDFSRVFBMBTMMBNBT EFGVFHP MDPNCVTUJCMF FMM䜷RVJEPMJNQJBQBa SBCSJTBT FUDTPOM䜷RVJEPTJOGMBNBa CMFT RVF QPES䜷BO DBVTBS VO JODFOa EJP 䳜 OUFT EF UPDBS MB CBUFS䜷B MPT DBa CMFT EF FODFOEJEP Z FM DBCMFBEP FM䜳DUSJDP EFTDPOFDUF FM UFSNJOBM EF MB CBUFS䜷B %F MP DPOUSBSJP QPES䜷BSFDJCJSVOBEFTDBSHBFM䜳DUSJa DBEFCJEPBMBDPSSJFOUFFM䜳DUSJDB 䳜 4JEFTNPOUBMBDVCJFSUBEFMSFWFTa UJNJFOUP JOUFSJPS DPO VO EFTUPSOJa MMBEPS QMBOP UFOHB DVJEBEP EF OPEB䜻BSMBDVCJFSUB $POUJO䝄B $POUJO䝄B 䳜 5FOHBDVJEBEPBMDBNCJBSPMJNQJBS MBT CPNCJMMBT QBSB FWJUBS RVFNBa EVSBTPEFTDBSHBTFM䜳DUSJDBT .BOUFOJNJFOUP
- 373. . ./5/*.*/50103135%-1301*53*0 -BT TJHVJFOUFT MJTUBTTPO MBT JOTQFDDJPa OFT Z DPNQSPCBDJPOFT RVF TF EFCFO SFBMJ[BSFOFMWFI䜷DVMPFOMPTJOUFSWBMPT JOEJDBEPT QBSB BZVEBS B HBSBOUJ[BS MB PQFSBDJ䜽OTFHVSBZGJBCMFEFTVWFI䜷DVa MP $VBMRVJFS DPOEJDJ䜽O BEWFSTB EFCF QPa OFSTF FO DPOPDJNJFOUP EF TV EJTUSJCVJa EPSMPBOUFTQPTJCMF TUBT DPNQSPCBDJPOFT EF NBOUFOJa NJFOUP QPS QBSUF EFM QSPQJFUBSJP OPSa NBMNFOUFOPFTU䜫ODVCJFSUBTQPSMBHBa SBOU䜷BZQVFEFUFOFSRVFQBHBSFMUSBa CBKP MBTQJF[BTZMPTMVCSJDBOUFTVTBEPT $BMFOEBSJPEFNBOUFOJNJFOUP QPSQBSUFEFMQSPQJFUBSJP $VBOEPQBSFQBSBSFQPTUBS 䳜 $PNQSVFCFFMOJWFMEFBDFJUFEFMNPa UPS 䳜 $PNQSVFCFFMOJWFMEFSFGSJHFSBOUFFO FMEFQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS 䳜 $PNQSVFCF FM OJWFM EF M䜷RVJEP MJNQJBa QBSBCSJTBT 䳜 $PNQSVFCFTJIBZBMHVOBSVFEBQPDP JOGMBEBPEFTJOGMBEB %735/$* 5FOHB DVJEBEP BM DPNQSPCBS FM OJWFM EFSFGSJHFSBOUFEFMNPUPSDVBOEPFM NPUPS FTU䜳 DBMJFOUF 4F QPES䜷B RVFa NBS DPO FM SFGSJHFSBOUF DBMJFOUF P DPO FM WBQPS RVF QVFEF TBMJS B QSFa TJ䜽OTUPQPES䜷BQSPWPDBSRVFNBEVa SBTVPUSBTMFTJPOFTHSBWFT .JFOUSBTBDDJPOBTVWFI䜷DVMP 䳜 5FOHBFODVFOUBDVBMRVJFSDBNCJPFO FM TPOJEP EF FTDBQF P DVBMRVJFS PMPS EFMPTIVNPTEFFTDBQFEFTVWFI䜷DVa MP 䳜 $PNQSVFCF MBT WJCSBDJPOFT FO FM WPa MBOUF0CTFSWFTJBVNFOUBPEJTNJOVa ZF FM FTGVFS[P EF MB EJSFDDJ䜽O FO FM WPMBOUFPVOQPTJCMFDBNCJPFOMBQPa TJDJ䜽OSFDUB 䳜 5FOHB FO DVFOUB TJ TV WFI䜷DVMP UJSB MJHFSBNFOUFIBDJBVOMBEPEFMBDBSSFa UFSB DVBOEP FTU䜳 DPOEVDJFOEP QPS VOBDBSSFUFSBOJWFMBEB 䳜 M QBSBS FTDVDIF Z DPNQSVFCF MPT SVJEPT BO䜽NBMPT RVF TF WBZB IBDJB VOMBEP FMBVNFOUPEFMSFDPSSJEPEFM QFEBMEFMGSFOPPTJFMQFEBMEFMGSFOP FTU䜫EVSP 䳜 4J IBZ DVBMRVJFS EFTWJBDJ䜽O P DBNCJP FO MB PQFSBDJ䜽O EF MB USBOTNJTJ䜽O DPNQSVFCF FM OJWFM EFM M䜷RVJEP EF MB USBOTNJTJ䜽O 䳜 $PNQSVFCF FM GVODJPOBNJFOUP EF MB USBOTNJTJ䜽O NBOVBM JODMVJEP FM GVOa DJPOBNJFOUPEFMFNCSBHVF 䳜 $PNQSVFCF MB GVODJ䜽O 1 FTUBDJPOBa NJFOUP EF MB USBOTNJTJ䜽O BVUPN䜫UJa DB 䳜 $PNQSVFCF FM GSFOP EF FTUBDJPOBa NJFOUP 䳜 $PNQSVFCF MBT GVHBT EF M䜷RVJEP QPS EFCBKPEFTVWFI䜷DVMP VOBTHPUBTEF BHVBEFMTJTUFNBEFMBJSFBDPOEJDJPOBa EPEVSBOUFPEFTQV䜳TEFMVTPFTOPSa NBM MNFOPTNFOTVBMNFOUF 䳜 $PNQSVFCFFMOJWFMEFSFGSJHFSBOUFFO FMEFQ䜽TJUPEFSFGSJHFSBOUFEFMNPUPS 䳜 $PNQSVFCF FM GVODJPOBNJFOUP EF UPa EBT MBT MVDFT FYUFSJPSFT JODMVJEPT MPT GBSPTBVYJMJBSFTPSJFOUBCMFT MPTJOUFSa NJUFOUFTZMBTMVDFTEFFNFSHFODJB 䳜 $PNQSVFCF MB QSFTJ䜽O EF JOGMBEP EF UPEPT MPT OFVN䜫UJDPT JODMVJEP FM EF SFQVFTUP .BOUFOJNJFOUP
- 374. MNFOPTEPTWFDFTBMB䜻P QFKFO QSJNBWFSBZFOPUP䜻P 䳜$PNQSVFCFFMSBEJBEPS FMDBMFGBDUPSZ MBTNBOHVFSBTEFMBJSFBDPOEJDJPOBEP QBSBWFSTJIBZEB䜻PTPGVHBT 䳜 $PNQSVFCFFMGVODJPOBNJFOUPEFMMJNa QJBZMBWBQBSBCSJTBT-JNQJFMBTFTDPa CJMMBTEFMMJNQJBQBSBCSJTBTDPOVOQBa 䜻PMJNQJPIVNFEFDJEPDPOM䜷RVJEPMJNa QJBQBSBCSJTBT 䳜 $PNQSVFCFMBBMJOFBDJ䜽OEFMPTGBSPT 䳜 $PNQSVFCFFMTJMFODJBEPS MPTDPOEVDa UPTEFFTDBQF MBTQSPUFDDJPOFTZMPT FOHBODIFT 䳜 $PNQSVFCFTJMBCBOEBTEFMPTDJOUVa SPOFTFTU䜫OEFTHBTUBEBTZTJGVODJPa OBO 䳜 $PNQSVFCF TJ MPT OFVN䜫UJDPT FTU䜫O EFTHBTUBEPT P TJ MBT UVFSDBT EF MBT SVFEBTFTU䜫OGMPKBT MNFOPTVOBWF[BMB䜻P 䳜 -JNQJFMBDBSSPDFS䜷BZMPTPSJGJDJPTEF ESFOBKFEFMBQVFSUB 䳜 -VCSJRVFMBTCJTBHSBTEFMBTQVFSUBTZ DPNQSVFCFMBTCJTBHSBTEFMDBQ䜽 䳜 -VCSJRVF MBT QVFSUBT MPT CMPRVFP EFM DBQ䜽ZMPTFOHBODIFT 䳜 -VCSJRVFMPTHVBSOFDJEPTEFHPNBEF MBQVFSUB 䳜 $PNQSVFCFFMTJTUFNBEFBJSFBDPOEJa DJPOBEP 䳜 $PNQSVFCFZMVCSJRVFMPTDPOUSPMFTZ MBT DPOFYJPOFT EF MB USBOTNJTJ䜽O BVa UPN䜫UJDB 䳜 -JNQJFMBCBUFS䜷BZMPTUFSNJOBMFT 䳜 -JNQJF FM M䜷RVJEP EFM FNCSBHVF Z EF GSFOPT .BOUFOJNJFOUP
- 375. 4 437*$*0%./5/*.*/50130(3.%0 1SFDBVDJ䜽OEFMTFSWJDJPEF NBOUFOJNJFOUPQSPHSBNBEP 4JHB FM DBMFOEBSJPEF NBOUFOJNJFOUP OPSNBM TJ FM WFI䜷DVMP TF VTB OPSNBMa NFOUFFOMVHBSFTEPOEFOPTFEBOOJOa HVOBEFMBTTJHVJFOUFTDPOEJDJPOFT4JTF EBBMHVOBEFMBTTJHVJFOUFTDPOEJDJPOFT TJHB FM .BOUFOJNJFOUP FO DPOEJDJPOFT EFVTPBEWFSTBT 䳜 3FDPSSFS EJTUBODJBT DPSUBT EF NFOPT EFLNSFQFUJEBNFOUFBUFNQFSBUVa SB OPSNBM P EF NFOPT EF LN B UFNQFSBUVSBEFDPOHFMBDJ䜽O 䳜 .PUPSFOSBMFOU䜷EVSBOUFVOMBSHPQFa SJPEP P DPOEVDDJ䜽O B NBSDIB MFOUB EVSBOUFMBSHBTEJTUBODJBT 䳜 $POEVDDJ䜽OFODBM[BEBTBCSVQUBT QPMa WPSJFOUBT FNCBSSBEBT OP QBWJNFOa UBEBT DPOHSBWJMMBPDPOTBM 䳜 $POEVDDJ䜽OFO[POBTEPOEFTFVTFTBM V PUSPT NBUFSJBMFT DPSSPTJWPT P FO DPOEJDJPOFTBNCJFOUBMFTNVZGS䜷BT 䳜 $POEVDDJ䜽OFOQPMWPJOUFOTP 䳜 $POEVDDJ䜽OFOUS䜫GJDPEFOTP 䳜 $POEVDDJ䜽ODVFTUBBSSJCB DVFTUBBCBa KPPFONPOUB䜻BTSFQFUJEBNFOUF 䳜 SSBTUSBSVOSFNPMRVFPVTBSVOQPSa UBFRVJQBKFTPVOBCBDB 䳜 $POEVDDJ䜽ODPNPDPDIFQBUSVMMB UBYJ PUSPVTPDPNFSDJBMEFHS䝄B 䳜 $POEVDDJ䜽OBN䜫TEFLNI 䳜 $POEVDDJ䜽ODPOQBSBEBTGSFDVFOUFT 4J DPOEVDF TV WFI䜷DVMP CBKP BMHVOBT EF MBT TJHVJFOUFT DPOEJDJPOFT EFCF DPNa QSPCBS DBNCJBSPSFMMFOBSDPON䜫TGSFa DVFODJBEFMBRVFTFFTQFDJGJDBFOFMDBa MFOEBSJP EF NBOUFOJNJFOUP OPSNBM %FTQV䜳TEFMPTQFSJPEPTPMBTEJTUBODJBT RVFTFNVFTUSBOFOFMDVBESP DPOUJO䝄F TJHVJFOEP MPT JOUFSWBMPT EF NBOUFOJa NJFOUPEFTDSJUPT .BOUFOJNJFOUP
- 376. $ $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBQBSBVSPQB FYDFQUP3VTJB %FCFOSFBMJ[BSTFMPTTJHVJFOUFTQSPDFEJNJFOUPTEFNBOUFOJNJFOUPQBSBBTFHVSBSVOCVFOSFOEJNJFOUPZDPOUSPMEFFNJTJPOFT (VBSEFMBTGBDUVSBTEFUPEPTTFSWJDJPTEFFNJTJPOFTSFBMJ[BEPTFOTVWFI䜷DVMPQBSBQSPUFHFSTVHBSBOU䜷B4JTFNVFTUSBFMLJMPa NFUSBKFZFMQFSJPEPFMNBOUFOJNJFOUPEFCFSFBMJ[BSTFDVBOEPTFQSPEV[DBMBQSJNFSBEFBNCBTDJSDVOTUBODJBT /䜄 -./50 0#437$*䜝/ DFJUFEFMNPUPSZGJMUSPEFBDFJUFEFM NPUPS $PNQSVFCFFMOJWFMEFBDFJUFEFNPUPSZMBTGVHBTDBEBLNPBOUFTEF JOJDJBSVOWJBKFMBSHP 3FGSJHFSBOUF NPUPS MB䜻BEJSSFGSJHFSBOUF VUJMJDFT䜽MPBHVBEFTJPOJ[BEBPBHVBCMBOEBQBSBTVWFa I䜷DVMPZOVODBNF[DMFBHVBEVSBDPOFMSFGSJHFSBOUFMMFOBEPFOMBG䜫CSJDB6OB NF[DMBJODPSSFDUBEFSFGSJHFSBOUFQVFEFQSPWPDBSHSBWFTBWFS䜷BTPEB䜻PTFO FMNPUPS $PSSFBTEFUSBOTNJTJ䜽O NPUPS 䳜 KVTUFFMBMUFSOBEPS MBDPSSFBEFUSBOTNJTJ䜽OEFMBCPNCBEFBHVBZEFMBJSF BDPOEJDJPOBEP TJ FTU䜫 FRVJQBEP $PNQSVFCF Z TJ FT OFDFTBSJP SFQBSF P DBNCJF 䳜 *OTQFDDJPOFFMUFOTPSEFMBDPSSFBEFUSBOTNJTJ䜽O FMQJ䜻䜽OMPDPZMBQPMFBEFM BMUFSOBEPSZ TJFTOFDFTBSJP DPSSJKBPDBNCJF )PMHVSBEFMBW䜫MWVMB $PNQSVFCFFMSVJEPFYDFTJWPEFMBW䜫MWVMBZPMBTWJCSBDJPOFTEFMNPUPSZSFBa MJDFFMBKVTUFTJFTOFDFTBSJPOFTUFDBTP TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTUFa NBFOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP #VK䜷B 4FH䝄OTVDPOWFOJFODJB QVFEFDBNCJBSTFBOUFTEFMJOUFSWBMPDPSSFTQPOEJFOUF DVBOEPSFBMJ[BFMNBOUFOJNJFOUPEFPUSPTFMFNFOUPT -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM $BNCJFFMM䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBMDBEBWF[RVFTFIBZBTVNFSHJEP FOBHVB .BOUFOJNJFOUP
- 377. / /䜄 -./50 0#437$*䜝/ EJUJWPTQBSBDPNCVTUJCMF HBTPMJOB ,JBMFSFDPNJFOEBRVFVUJMJDFHBTPMJOBTJOQMPNPEFPDUBOPT 30/ ,* 䜷Oa EJDFBOUJQJDBEB PTVQFSJPS QBSBVSPQB PEFPDUBOPT 30/ ,* 䜷OEJa DFBOUJQJDBEB PTVQFSJPS FYDFQUPVSPQB 1BSBMPTDMJFOUFTRVFOPVUJMJDFOIBCJUVBMNFOUFHBTPMJOBEFCVFOBDBMJEBERVF JODMVZBBEJUJWPTEFDPNCVTUJCMFZUFOHBOQSPCMFNBTBMBSSBODBSFMWFI䜷DVMPP FMNPUPSOPGVODJPOFDPOTVBWJEBE TFSFDPNJFOEBWFSUFSVOCPUFEFBEJUJWP FOFMEFQ䜽TJUPEFMDPNCVTUJCMFDBEBLN QBSBVSPQB VTUSBMJBZ/VFa WB;FMBOEB LN FYDFQUPVSPQB VTUSBMJBZ/VFWB;FMBOEB $IJOB LN QBSB$IJOB -PTBEJUJWPTZMBJOGPSNBDJ䜽OBDFSDBEFTVVTPFTU䜫O EJTQPOJCMFTFOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP/PNF[DMFPUSPTBEJUJWPT */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBQBSBVSPQB FYDFQUP3VTJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽O MPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 DFJUFEFMNPUPSZGJMUSPEF BDFJUFEFMNPUPS ,BQQB -5 (%* $BNCJBSDBEBLNPBMPTNFTFT ,BQQB -.1* ,BQQB -.1* 3FGSJHFSBOUF NPUPS 1SJNFSP DBNCJBSBMPTLNPBMPTNFTFT EFTQV䜳T DBNCJBSDBEBLNPBMPTNFTFT $PSSFBTEFUSBOTNJTJ䜽O NPUPS 1SJNFSP SFWJTBSBMPTLNPBMPTNFTFT EFTQV䜳T SFWJTBSDBEBLNPBMPTNFTFT .BOUFOJNJFOUP
- 378. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBQBSBVSPQB FYDFQUP3VTJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 )PMHVSBEFMBW䜫MWVMB ,BQQB -5 (%* ,BQQB - .1* * .BOHVFSBTEFWBD䜷PZNBOHVFSBTEFWFOUJMBDJ䜽O EFMD䜫SUFS * * * * #VK䜷BT ,BQQB -5 (%* $BNCJBSDBEBLN ,BQQB -.1* $BNCJBSDBEB ,BQQB -.1* $BNCJBSDBEB -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB * * -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM * * 䜋SCPMEFMBUSBOTNJTJ䜽OZGVOEBT * * * * EJUJWPTQBSBDPNCVTUJCMF (BTPMJOB 䜻BEJSDBEBLNPBMPTNFTFT $POEVDUPT NBOHVFSBTZDPOFYJPOFTEFDPNa CVTUJCMF * * 'JMUSPEFBJSFEFMEFQ䜽TJUPEFDPNCVTUJCMF * * 5BQBEFMMFOBEPEFDPNCVTUJCMFZNBOHVFSBEF WBQPS * * .BOUFOJNJFOUP
- 379. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBQBSBVSPQB FYDFQUP3VTJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 'JMUSPEFMQVSJGJDBEPSEFBJSF * 3 * 3 *OUFSDPPMFS NBOHVFSBEFFOa USBEBTBMJEB NBOHVFSBEFUPa NBEFBJSF ,BQQB -5 (%* * * * * * * * * 4JTUFNBEFFTDBQF * * * * * * * * 4JTUFNBEFSFGSJHFSBDJ䜽O 1SJNFSP SFWJTBSBMPTLNPBMPTNFTFT EFTQV䜳T SFWJTBSDBEBLNPBMPTNFTFT 3FGSJHFSBOUFDPNQSFTPSEFMBJSFBDPOEJDJPOBEP * * * * * * * * 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS 3 3 3 3 1BTUJMMBTZEJTDPTEFMGSFOP * * * * * * * * 'PSSPTZUBNCPSFTEFMGSFOP * * * * $POEVDUPT NBOHVFSBTZDPOFYJPOFTEFGSFOP * * * * * * * * -䜷RVJEPEFGSFOPTFNCSBHVF * 3 * 3 * 3 * 3 'SFOPEFFTUBDJPOBNJFOUP * * * * $SFNBMMFSB DPOFYJPOFTZGVOEBTEFMBEJSFDDJ䜽O * * * * * * * * 3䜽UVMBTEFTVTQFOTJ䜽O * * * * * * * * /FVN䜫UJDP QSFTJ䜽OZEFTHBTUFEFMBCBOEBEF SPEBEVSB * * * * * * * * .BOUFOJNJFOUP
- 380. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFMNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBQBSBVSPQB FYDFQUP3VTJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 TUBEPEFMBCBUFS䜷B * * * * * * * * * *OTQFDDJPOBSZ TJFTOFDFTBSJP BKVTUBS DPSSFHJS MJNQJBSPDBNCJBS 3 3FFNQMB[BSPDBNCJBS .BOUFOJNJFOUP
- 381. . .BOUFOJNJFOUPFODPOEJDJPOFTEFVTPBEWFSTBT1BSBNPUPSFTEFHBTPMJOBQBSBVSPQB FYDFQUP 3VTJB -./50%./5/*.*/50 013$*䜝/% ./5/*.*/a 50 */537-04%./5/*a .*/50 $0/%*$*0/4% $0/%6$$*䜝/ DFJUFEFMNPUPSZGJMUSPEFBDFJUFEFM NPUPS ,BQQB-5 (%* 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , ,BQQB -.1* ,BQQB -.1* #VK䜷BT 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O # ) * , -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB 3 $BEBLN $ % ' ( ) * + -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM 3 $BEBLN $ % ' ( ) * + 䜋SCPMEFMBUSBOTNJTJ䜽OZGVOEBT * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ' ( ) * + 'JMUSPEFMQVSJGJDBEPSEFBJSF 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O $ 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O $ ( .BOUFOJNJFOUP
- 382. -./50%./5/*.*/50 013$*䜝/% ./5/*.*/a 50 */537-04%./5/*a .*/50 $0/%*$*0/4% $0/%6$$*䜝/ 1BTUJMMBTZEJTDPTEFGSFOP QJO[BTZSPUPSFT * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $% ( ) 'PSSPTZUBNCPSFTEFMGSFOP * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ( ) 'SFOPEFFTUBDJPOBNJFOUP * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ( ) $SFNBMMFSB DPOFYJPOFTZGVOEBTEFMBEJSFDDJ䜽O * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ' ( 3䜽UVMBTEFTVTQFOTJ䜽O * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ' ( 0QFSBDJ䜽OEFNBOUFOJNJFOUP * *OTQFDDJPOBSZ TJFTOFDFTBSJP BKVTUBS DPSSFHJS MJNQJBSPDBNCJBS 3 3FFNQMB[BSPDBNCJBS $0/%*$*0/4%$0/%6$$*䜝/%7344 3FDPSSFSEJTUBODJBTDPSUBTEFNFOPTEFLNSFQFUJEBNFOUFBUFNQFSBUVSBOPSNBMPNFOPTEFLNBVOBUFNQFSBa UVSBEFDPOHFMBDJ䜽O # .PUPSFOSBMFOU䜷EVSBOUFVOMBSHPQFSJPEPPDPOEVDDJ䜽OBNBSDIBMFOUBEVSBOUFMBSHBTEJTUBODJBT $ $POEVDDJ䜽OFODBM[BEBTBCSVQUBT QPMWPSJFOUBT FNCBSSBEBT OPQBWJNFOUBEBT DPOHSBWJMMBPDPOTBM % $POEVDDJ䜽OFO[POBTEPOEFTFVTFTBMVPUSPTNBUFSJBMFTDPSSPTJWPTPFODPOEJDJPOFTBNCJFOUBMFTNVZGS䜷BT $POEVDDJ䜽OFOQPMWPJOUFOTP ' $POEVDDJ䜽OFOUS䜫GJDPEFOTP .BOUFOJNJFOUP
- 383. ( $POEVDDJ䜽ODVFTUBBSSJCB DVFTUBBCBKPPFONPOUB䜻BTSFQFUJEBNFOUF )SSBTUSBSVOSFNPMRVFPVTBSVOQPSUBFRVJQBKFTFOMBCBDB * $POEVDDJ䜽OQBSBDPDIFTQBUSVMMB UBYJT VTPDPNFSDJBMEFHS䝄B + $POEVDDJ䜽OBN䜫TEFLNI , $POEVDDJ䜽ODPOQBSBEBTGSFDVFOUFT .BOUFOJNJFOUP
- 384. $ $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3VTJB %FCFOSFBMJ[BSTFMPTTJHVJFOUFTQSPDFEJNJFOUPTEFNBOUFOJNJFOUPQBSBBTFHVSBSVOCVFOSFOEJNJFOUPZDPOUSPMEFFNJTJPOFT (VBSEFMBTGBDUVSBTEFUPEPTTFSWJDJPTEFFNJTJPOFTSFBMJ[BEPTFOTVWFI䜷DVMPQBSBQSPUFHFSTVHBSBOU䜷B4JTFNVFTUSBFMLJMPa NFUSBKFZFMQFSJPEPFMNBOUFOJNJFOUPEFCFSFBMJ[BSTFDVBOEPTFQSPEV[DBMBQSJNFSBEFBNCBTDJSDVOTUBODJBT /䜄 -./50 0#437$*䜝/ DFJUFEFMNPUPSZGJMUSPEFBDFJUFEFM NPUPS $PNQSVFCFFMOJWFMEFBDFJUFEFNPUPSZMBTGVHBTDBEBLNPBOUFTEF JOJDJBSVOWJBKFMBSHP 3FGSJHFSBOUF NPUPS MB䜻BEJSSFGSJHFSBOUF VUJMJDFT䜽MPBHVBEFTJPOJ[BEBPBHVBCMBOEBQBSBTVWFa I䜷DVMPZOVODBNF[DMFBHVBEVSBDPOFMSFGSJHFSBOUFMMFOBEPFOMBG䜫CSJDB6OB NF[DMBJODPSSFDUBEFSFGSJHFSBOUFQVFEFQSPWPDBSHSBWFTBWFS䜷BTPEB䜻PTFO FMNPUPS $PSSFBTEFUSBOTNJTJ䜽O NPUPS 䳜 KVTUFFMBMUFSOBEPS MBDPSSFBEFUSBOTNJTJ䜽OEFMBCPNCBEFBHVBZEFMBJSF BDPOEJDJPOBEP TJ FTU䜫 FRVJQBEP $PNQSVFCF Z TJ FT OFDFTBSJP SFQBSF P DBNCJF 䳜 *OTQFDDJPOFFMUFOTPSEFMBDPSSFBEFUSBOTNJTJ䜽O FMQJ䜻䜽OMPDPZMBQPMFBEFM BMUFSOBEPSZ TJFTOFDFTBSJP DPSSJKBPDBNCJF )PMHVSBEFMBW䜫MWVMB $PNQSVFCFFMSVJEPFYDFTJWPEFMBW䜫MWVMBZPMBTWJCSBDJPOFTEFMNPUPSZSFBa MJDFFMBKVTUFTJFTOFDFTBSJPOFTUFDBTP TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTUFa NBFOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP #VK䜷B 4FH䝄OTVDPOWFOJFODJB QVFEFDBNCJBSTFBOUFTEFMJOUFSWBMPDPSSFTQPOEJFOUF DVBOEPSFBMJ[BFMNBOUFOJNJFOUPEFPUSPTFMFNFOUPT -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM $BNCJFFMM䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBMDBEBWF[RVFTFIBZBTVNFSHJEP FOBHVB .BOUFOJNJFOUP
- 385. / /䜄 -./50 0#437$*䜝/ EJUJWPTQBSBDPNCVTUJCMF HBTPMJOB ,JBMFSFDPNJFOEBRVFVUJMJDFHBTPMJOBTJOQMPNPEFPDUBOPT 30/ ,* 䜷Oa EJDFBOUJQJDBEB PTVQFSJPS QBSBVSPQB PEFPDUBOPT 30/ ,* 䜷OEJa DFBOUJQJDBEB PTVQFSJPS FYDFQUPVSPQB 1BSBMPTDMJFOUFTRVFOPVUJMJDFOIBCJUVBMNFOUFHBTPMJOBEFCVFOBDBMJEBERVF JODMVZBBEJUJWPTEFDPNCVTUJCMFZUFOHBOQSPCMFNBTBMBSSBODBSFMWFI䜷DVMPP FMNPUPSOPGVODJPOFDPOTVBWJEBE TFSFDPNJFOEBWFSUFSVOCPUFEFBEJUJWP FOFMEFQ䜽TJUPEFMDPNCVTUJCMFDBEBLN QBSBVSPQB VTUSBMJBZ/VFa WB;FMBOEB LN FYDFQUPVSPQB VTUSBMJBZ/VFWB;FMBOEB $IJOB #SBTJM LN QBSB$IJOB #SBTJM -PTBEJUJWPTZMBJOGPSNBDJ䜽OBDFSDBEFTV VTPFTU䜫OEJTQPOJCMFTFOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP/PNF[DMFPUSPTBEJUJWPT 'JMUSPEFDPNCVTUJCMFFYUFSOP MJOUFSWBMPEFNBOUFOJNJFOUPEFQFOEFEFMBDBMJEBEEFMDPNCVTUJCMF4JUJFOF BMH䝄OQSPCMFNBDPNPMBSFTUSJDDJ䜽OEFGMVKPTEFMDPNCVTUJCMF MBQ䜳SEJEBEFQPa UFODJB EJGJDVMUBEFTFOFMBSSBORVFPSVJEPEFMBTQJF[BTEFDPNCVTUJCMF TPMJDJa UFJONFEJBUBNFOUFMBDPNQSPCBDJ䜽OZTVTUJUVDJ䜽OEFMGJMUSPEFDPNCVTUJCMFP MBCPNCBEFDPNCVTUJCMFFOVOUBMMFSQSPGFTJPOBM,JBSFDPNJFOEBWJTJUBSVO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP .BOUFOJNJFOUP
- 386. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3Va TJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 DFJUFEFMNPUPSZGJMUSPEF BDFJUFEFMNPUPS ,BQQB -5 (%* YDFQUP0SJFOUF.FEJP $FOUSPBN䜳SJDBZ4VEBN䜳SJDB MB*OEJB -JCJB *S䜫O Sa HFMJB 4VE䜫O .BSSVFDPT 5䝄OF[ HJQUP $IJOB $BNCJBSDBEBLNPBMPTNFTFT 1BSB0SJFOUF.FEJP $FOUSPBN䜳SJDBZ4VEBN䜳SJDB MB*OEJB -JCJB *S䜫O SHFa MJB 4VE䜫O .BSSVFDPT 5䝄OF[ HJQUP $BNCJBSDBEBLNPBMPTNFTFT 1BSB$IJOBDBNCJBSDBEBLNPBMPTNFTFT ,BQQB -.1* YDFQUP0SJFOUF.FEJP $FOUSPBN䜳SJDBZ4VEBN䜳SJDB MB*OEJB -JCJB *S䜫O Sa HFMJB 4VE䜫O .BSSVFDPT 5䝄OF[ HJQUP $IJOB $BNCJBSDBEBLNPBMPTNFTFT 1BSB0SJFOUF.FEJP $FOUSPBN䜳SJDBZ4VEBN䜳SJDB MB*OEJB -JCJB *S䜫O SHFa MJB 4VE䜫O .BSSVFDPT 5䝄OF[ HJQUP $BNCJBSDBEBLNPBMPTNFTFT 1BSB$IJOBDBNCJBSDBEBLNPBMPTNFTFT ,BQQB -''7 ,BQQB -.1* 3FGSJHFSBOUF NPUPS 1SJNFSP DBNCJBSBMPTLNPBMPTNFTFT EFTQV䜳T DBNCJBSDBEBLNPBMPTNFTFT $PSSFBTEFUSBOTNJTJ䜽O NPUPS * * * * .BOUFOJNJFOUP
- 387. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3Va TJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 )PMHVSBEFMBW䜫MWVMB ,BQQB -5 (%* ,BQQB - .1* ,BQQB - ''7 * .BOHVFSBTEFWBD䜷PZNBOHVFSBTEFWFOUJMBDJ䜽O EFMD䜫SUFS * * * * #VK䜷BT ,BQQB -5 (%* TJOQMPNP $BNCJBSDBEBLN ,BQQB -.1* TJOQMPNP $BNCJBSDBEB ,BQQB -.1* TJOQMPNP $BNCJBSDBEB ,BQQB -.1* ''7 $BNCJBSDBEB ,BQQB -.1* DPOQMPNP $BNCJBSDBEB ,BQQB -.1* DPOQMPNP $BNCJBSDBEB .BOUFOJNJFOUP
- 388. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3Va TJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB * * -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM * * 䜋SCPMEFMBUSBOTNJTJ䜽OZGVOEBT * * * * EJUJWPTQBSBDPNCVTUJCMF (BTPMJOB 䜻BEJSDBEBLNPBMPTNFTFT 1BSBVTUSBMJBZ/VFWB;FMBOEB 䜻BEJSDBEBLNPBMPTNFTFT 1BSB$IJOB #SBTJMB䜻BEJSDBEBLNPBMPTNFTFT 'JMUSPEFMDPNCVTUJCMF HBTPMJa OB 1BSB$IJOB #SBa TJM * 3 * 3 'JMUSPEFDPNCVTUJCMFFYUFSOP ,BQQB -''7 $BNCJBSDBEBLN #PNCBEFDPNCVTUJCMF ,BQQB -''7 3FWJTBSDBEBLN $POEVDUPT NBOHVFSBTZDPOFYJPOFTEFDPNa CVTUJCMF * * 'JMUSPEFBJSFEFMEFQ䜽TJUPEF DPNCVTUJCMF 1BSB$IJOB * * 3 * * 3 * * YDFQUP$IJOB * 3 * 3 .BOUFOJNJFOUP
- 389. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3Va TJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 5BQBEFMMFOBEPEFDPNCVTUJCMFZNBOHVFSBEF WBQPS * * 'JMUSPEFMQVSJGJDBEPSEFBJSF YDFQUP$IJOB *OEJBZ0SJFOUF .FEJP * * 3 * * 3 * * 1BSB$IJOB *OEJB Z0SJFOUF.FEJP 3 3 3 3 3 3 3 3 *OUFSDPPMFS NBOHVFSBEFFOa USBEBTBMJEB NBOHVFSBEFUPa NBEFBJSF ,BQQB -5 (%* * * * * * * * * 4JTUFNBEFFTDBQF * * * * * * * * 4JTUFNBEFSFGSJHFSBDJ䜽O 1SJNFSP SFWJTBSBMPTLNPBMPTNFTFT EFTQV䜳T SFWJTBSDBEBLNPBMPTNFTFT 3FGSJHFSBOUFDPNQSFTPSEFMBJSFBDPOEJDJPOBEP * * * * * * * * .BOUFOJNJFOUP
- 390. * */537-04%./5/*a .*/50 $BMFOEBSJPOPSNBMEFNBOUFOJNJFOUP1BSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB3Va TJB /䝄NFSPEFNFTFTPEJTUBODJBEFDPOEVDDJ䜽OMPRVFPDVSSBBOUFT .FTFT .JMMBT䜡 ,N䜡 -./50%./5/*.*/50 'JMUSPEFBJSFEFMDPOUSPMEFM DMJNBUJ[BEPS YDFQUPVTUSBa MJBZ/VFWB;Fa MBOEB 3 3 3 3 3 3 3 3 1BSBVTUSBMJBZ /VFWB;FMBOEB * 3 * 3 * 3 * 3 1BTUJMMBTZEJTDPTEFMGSFOP * * * * * * * * 'PSSPTZUBNCPSFTEFMGSFOP * * * * $POEVDUPT NBOHVFSBTZDPOFYJPOFTEFGSFOP * * * * * * * * -䜷RVJEPEFGSFOPTFNCSBHVF * 3 * 3 * 3 * 3 'SFOPEFFTUBDJPOBNJFOUP * * * * $SFNBMMFSB DPOFYJPOFTZGVOEBTEFMBEJSFDDJ䜽O * * * * * * * * 3䜽UVMBTEFTVTQFOTJ䜽O * * * * * * * * /FVN䜫UJDP QSFTJ䜽OZEFTHBTUFEFMBCBOEBEF SPEBEVSB * * * * * * * * TUBEPEFMBCBUFS䜷B * * * * * * * * * *OTQFDDJPOBSZ TJFTOFDFTBSJP BKVTUBS DPSSFHJS MJNQJBSPDBNCJBS .BOUFOJNJFOUP
- 391.
- 392. . .BOUFOJNJFOUPFODPOEJDJPOFTEFVTPBEWFSTBTQBSBNPUPSEFHBTPMJOBFYDFQUPVSPQB JODMVJEB 3VTJB -./50%./5/*.*/50 013$*䜝/% ./5/*.*/a 50 */537-04%./5/*a .*/50 $0/%*$*0/4% $0/%6$$*䜝/ DFJUFEFMNPUPSZGJMa USPEFBDFJUFEFMNPa UPS ,BQQB-5 (%* YDFQUP$IJOB 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , 1BSB$IJOB 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , ,BQQB -.1* ,BQQB -''7 ,BQQB -.1* YDFQUP0SJFOUF .FEJP $FOUSPBa N䜳SJDBZ4VEa BN䜳SJDB MB*OEJB -JCJB *S䜫O SHFa MJB 4VE䜫O .Ba SSVFDPT 5䝄OF[ HJQUP $IJOB 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , 1BSB0SJFOUF.Fa EJP $FOUSPBN䜳SJa DBZ4VEBN䜳SJDB MB*OEJB -JCJB *S䜫O SHFMJB 4Va E䜫O .BSSVFDPT 5䝄OF[ HJQUP 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , 1BSB$IJOB 3 $BEBLNPBMPT NFTFT # $ % ' ( ) * + , .BOUFOJNJFOUP
- 393. -./50%./5/*.*/50 013$*䜝/% ./5/*.*/a 50 */537-04%./5/*a .*/50 $0/%*$*0/4% $0/%6$$*䜝/ #VK䜷BT 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O # )* , -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB 3 $BEBLN $ % ' ( ) * + -䜷RVJEPEFMBUSBOTNJTJ䜽ONBOVBM 3 $BEBLN $ % ' ( ) * + 䜋SCPMEFMBUSBOTNJTJ䜽OZGVOEBT * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ' ( ) * + 'JMUSPEFMQVSJGJDBEPSEFBJSF 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O $ 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS 3 $BNCJBSDPON䜫TGSFDVFOa DJBEFQFOEJFOEPEFMBDPOa EJDJ䜽O $ ( 1BTUJMMBTZEJTDPTEFGSFOP QJO[BTZSPUPSFT * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ( ) 'PSSPTZUBNCPSFTEFMGSFOP * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ( ) 'SFOPEFFTUBDJPOBNJFOUP * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ( ) .BOUFOJNJFOUP
- 394. -./50%./5/*.*/50 013$*䜝/% ./5/*.*/a 50 */537-04%./5/*a .*/50 $0/%*$*0/4% $0/%6$$*䜝/ $SFNBMMFSB DPOFYJPOFTZGVOEBTEFMBEJSFDDJ䜽O * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $% ' ( 3䜽UVMBTEFTVTQFOTJ䜽O * *OTQFDDJPOBSDPON䜫TGSFa DVFODJBEFQFOEJFOEPEFMB DPOEJDJ䜽O $ % ' ( 0QFSBDJ䜽OEFNBOUFOJNJFOUP * *OTQFDDJPOBSZ TJFTOFDFTBSJP BKVTUBS DPSSFHJS MJNQJBSPDBNCJBS 3 3FFNQMB[BSPDBNCJBS $0/%*$*0/4%$0/%6$$*䜝/%7344 3FDPSSFSEJTUBODJBTDPSUBTEFNFOPTEFLNSFQFUJEBNFOUFBUFNQFSBUVSBOPSNBMPNFOPTEFLNBVOBUFNQFSBa UVSBEFDPOHFMBDJ䜽O # .PUPSFOSBMFOU䜷EVSBOUFVOMBSHPQFSJPEPPDPOEVDDJ䜽OBNBSDIBMFOUBEVSBOUFMBSHBTEJTUBODJBT $ $POEVDDJ䜽OFODBM[BEBTBCSVQUBT QPMWPSJFOUBT FNCBSSBEBT OPQBWJNFOUBEBT DPOHSBWJMMBPDPOTBM % $POEVDDJ䜽OFO[POBTEPOEFTFVTFTBMVPUSPTNBUFSJBMFTDPSSPTJWPTPFODPOEJDJPOFTBNCJFOUBMFTNVZGS䜷BT $POEVDDJ䜽OFOQPMWPJOUFOTP ' $POEVDDJ䜽OFOUS䜫GJDPEFOTP ( $POEVDDJ䜽ODVFTUBBSSJCB DVFTUBBCBKPPFONPOUB䜻BTSFQFUJEBNFOUF ) SSBTUSBSVOSFNPMRVFPVTBSVOQPSUBFRVJQBKFTFOMBCBDB * $POEVDDJ䜽OQBSBDPDIFTQBUSVMMB UBYJT VTPDPNFSDJBMEFHS䝄B + $POEVDDJ䜽OBN䜫TEFLNI , $POEVDDJ䜽ODPOQBSBEBTGSFDVFOUFT .BOUFOJNJFOUP
- 395. 91-*$$*䜝/%-04-./504%-$-/%3*0%./5/*.*/50 DFJUFEFMNPUPSZGJMUSP MBDFJUFZGJMUSPEFMNPUPSEFCFODBNa CJBSTFFOMPTJOUFSWBMPTFTQFDJGJDBEPTFO FM DBMFOEBSJP EFNBOUFOJNJFOUP 4J FM WFI䜷DVMPTFDPOEVDFFODPOEJDJPOFTBEa WFSTBT TFOFDFTJUBVODBNCJPN䜫TGSFa DVFOUFEFMGJMUSPZEFMBDFJUF $PSSFBTEFUSBOTNJTJ䜽O $PNQSVFCF UPEBT MBT DPSSFBT EF MB USBOTNJTJ䜽OQBSBWFSJGJDBSTJTFIBOQSPa EVDJEPDPSUFT HSJFUBT VOEFTHBTUFFYa DFTJWPPTBUVSBDJ䜽OEFBDFJUFZD䜫NCJFa MBT TJ FT OFDFTBSJP -BT DPSSFBT EF MB USBOTNJTJ䜽O EFCFO DPNQSPCBSTF QFSJ䜽a EJDBNFOUF QBSB WFSJGJDBS MB UFOTJ䜽O Z BKVTUBSMBTTJFTOFDFTBSJP 5/$*䜝/ M SFWJTBS FM DJOUVS䜽O EF TFHVSJEBE DPMPRVF FM JOUFSSVQUPS EF FODFOEJEP FOMBQPTJDJ䜽O-0$,0''P$$ 'JMUSPEFMDPNCVTUJCMF QBSB HBTPMJOB MWFI䜷DVMPEFHBTPMJOBEF,JBFTU䜫FRVJa QBEP DPO VO GJMUSP EF DPNCVTUJCMF RVF FTU䜫 JOUFHSBEP FO FM EFQ䜽TJUP EF DPNa CVTUJCMF6ONBOUFOJNJFOUPPSFFNQMBa [P QFSJ䜽EJDP OP FT OFDFTBSJP QFSP EFa QFOEF EF MB DBMJEBE EFM DPNCVTUJCMF 4J PDVSSF BMHP JNQPSUBOUF FO NBUFSJB EF TFHVSJEBE DPNP SFTUSJDDJPOFT EF GMVJEP EF DPNCVTUJCMF TVCJEBT Q䜳SEJEBT EF QPUFODJB QSPCMFNBT FO FM BSSBORVF FUD SFDPNFOEBNPTRVFSFWJTFPDBNa CJFFMGJMUSPEFDPNCVTUJCMF 4PMJDJUFMBJOTQFDDJ䜽OPFMSFFNQMB[PEFM GJMUSPEFDPNCVTUJCMFFOVOUBMMFSQSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP $POEVDUPT NBOHVFSBTZ DPOFYJPOFTEFDPNCVTUJCMF $PNQSVFCF QPTJCMFT GVHBT Z EB䜻PT FO MPT DPOEVDUPT MBT NBOHVFSBT Z DPOFa YJPOFT EF DPNCVTUJCMF 4PMJDJUF FM DBNa CJPEFMPTDPOEVDUPTEFDPNCVTUJCMF MBT NBOHVFSBTEFDPNCVTUJCMFZMBTDPOFa YJPOFT FO VO UBMMFS QSPGFTJPOBM ,JB SFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5VCPEFWBQPS QBSBNPUPSFTEF HBTPMJOBZ''7 ZUBQBEF MMFOBEPEFDPNCVTUJCMF -BNBOHVFSBEFWBQPSZMBUBQBEFMMFa OBEPEFDPNCVTUJCMFEFCFODPNQSPCBSa TF B MPT JOUFSWBMPT FTQFDJGJDBEPT FO FM DBMFOEBSJPEFNBOUFOJNJFOUPTFH䝄SFa TFEFRVFMBOVFWBNBOHVFSBEFWBQPS PMBUBQBEFMMFOBEPEFDPNCVTUJCMFFTa U䜫DPSSFDUBNFOUFDPMPDBEB .BOHVFSBEFWFOUJMBDJ䜽OEFM D䜫SUFSEFWBD䜷P TJFTU䜫 FRVJQBEP $PNQSVFCFMBTVQFSGJDJFEFMBNBOHVFa SBQBSBWFSTJIBZEB䜻PTNFD䜫OJDPTZP QSPEVDJEPT QPS FM DBMPS (PNB EVSB Z RVFCSBEJ[B HSJFUBT SPUVSBT DPSUFT BCSBTJPOFTPVOBIJODIB[䜽OFYDFTJWBJOa EJDBOEFUFSJPSP%FCFQSFTUBSTFVOBFTa QFDJBM BUFODJ䜽O QBSB FYBNJOBS MBT TVa QFSGJDJFT EF MBT NBOHVFSB DFSDBOBT B GVFOUFTEFHSBODBMPSDPNPFMDPMFDUPS EFFTDBQF .BOUFOJNJFOUP
- 396. $PNQSVFCF MBT QPTJDJPOFTEF MBT NBOa HVFSBTQBSBBTFHVSBSTFEFRVFOPFOa USBOFODPOUBDUPDPOMBTGVFOUFTEFDBa MPS CPSEFT BGJMBEPT P DPNQPOFOUFT FO NPWJNJFOUP RVF QPES䜷BO QSPWPDBS EBa 䜻PTQSPEVDJEPTQPSFMDBMPSPEFTHBTUF NFD䜫OJDP $PNQSVFCF UPEBT MBT DPOFa YJPOFTEFMBTNBOHVFSBT DPNPBCSB[Ba EFSBTZBDPQMBNJFOUPT QBSBBTFHVSBSTF EF RVF FTU䜫O GJKPT Z OP QSFTFOUBO GVa HBT -BT NBOHVFSBT EFCFO DBNCJBSTF JONFEJBUBNFOUF TJ IBZ FWJEFODJBT EF EFUFSJPSPPEB䜻PT ' 'JMUSPEFMQVSJGJDBEPSEFBJSF 4PMJDJUFFMSFFNQMB[PEFMGJMUSPQVSJGJDBa EPSEFBJSFFOVOUBMMFSQSPGFTJPOBM,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP #VK䜷BT QBSBNPUPSEFHBTPMJOB ''7 TFH䝄SFTFEFNPOUBSMBTOVFWBTCVK䜷BT DPOFMJOUFSWBMPEFDBMPSDPSSFDUP %735/$* /PEFTDPOFDUFOJSFWJTFMBTCVK䜷BTTJ FM NPUPS FTU䜫 DBMJFOUF 1PES䜷B RVFa NBSTF )PMHVSBEFMBW䜫MWVMB QBSB NPUPSFT,BQQB -5(%* ,BQQB -.1*Z''7 $PNQSVFCFFMSVJEPFYDFTJWPEFMBW䜫Ma WVMB ZP MBT WJCSBDJPOFT EFM NPUPS Z SFBMJDFFMBKVTUFTJFTOFDFTBSJPOFTUF DBTP TPMJDJUFFMNBOUFOJNJFOUPEFMTJTa UFNBFOVOUBMMFSQSPGFTJPOBM,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 4JTUFNBEFSFGSJHFSBDJ䜽O $PNQSVFCFTJIBZGVHBTZEB䜻PTFOMPT DPNQPOFOUFTEFMTJTUFNBEFSFGSJHFSBa DJ䜽ODPNPFMSBEJBEPS FMEFQ䜽TJUPEFSFa GSJHFSBOUF MBT NBOHVFSBT Z MBT DPOFa YJPOFT $BNCJF UPEBT MBT QJF[BT EB䜻Ba EBT 3FGSJHFSBOUF M SFGSJHFSBOUF EFCF DBNCJBSTF FO MPT JOUFSWBMPTFTQFDJGJDBEPTFOFMDBMFOEBSJP EFNBOUFOJNJFOUP -䜷RVJEPEFMBUSBOTNJTJ䜽O NBOVBM TJFTU䜫FRVJQBEP $PNQSVFCFFMM䜷RVJEPEFMBUSBOTNJTJ䜽O NBOVBMTFH䝄OFMDBMFOEBSJPEFNBOUFOJa NJFOUP -䜷RVJEPEFMBUSBOTNJTJ䜽O BVUPN䜫UJDB TJFTU䜫FRVJQBEP MOJWFMEFM䜷RVJEPEFCFFODPOUSBSTFFO MB NBSDB )05 EF MB WBSJMMB DVBOEP FM WFI䜷DVMPZMBUSBOTNJTJ䜽OFTU䜳OBUFNa QFSBUVSB PQFSBUJWB OPSNBM $PNQSVFCF FMOJWFMEFM䜷RVJEPEFMBUSBOTNJTJ䜽OBVa UPN䜫UJDB DPO FM NPUPS FO NBSDIB MB USBOTNJTJ䜽OFOQVOUPNVFSUPZFMGSFOP EFFTUBDJPOBNJFOUPBDDJPOBEP $POEVDUPTZNBOHVFSBTEFM GSFOP $PNQSVFCF WJTVBMNFOUF TV DPSSFDUB JOTUBMBDJ䜽O TJ IBZ SP[BEVSBT HSJFUBT EFUFSJPSPTPVOBGVHB$BNCJFJONFEJBa UBNFOUFUPEBTMBTQJF[BTEB䜻BEBTPEFa UFSJPSBEBT -䜷RVJEPEFGSFOPTFNCSBHVF TJ FTU䜫FRVJQBEP $PNQSVFCF FM OJWFM EFM M䜷RVJEP EF GSFa OPTFNCSBHVFFOFMEFQ䜽TJUPEFMM䜷RVJEP EFGSFOPTFNCSBHVFMOJWFMEFCFFTUBS FOUSF MBT NBSDBT .*/ Z .9 FO VO MBEPEFMEFQ䜽TJUP6UJMJDFM䜷RVJEPEFGSFa OPTFNCSBHVF IJES䜫VMJDP EF BDVFSEP DPO%05P%05 .BOUFOJNJFOUP
- 397. ' 'SFOPEFFTUBDJPOBNJFOUP 3FWJTFFMTJTUFNBEFMGSFOPEFFTUBDJPa OBNJFOUP JODMVZFOEPMB QBMBODB P FM QFEBM ZMPTDBCMFTEFMNJTNP 1BTUJMMBT GSFOPT QJO[BTZ SPUPSFTEFMGSFOP $PNQSVFCFTJMBTQBTUJMMBTFTU䜫OFYDFTJa WBNFOUFEFTHBTUBEBT TJMPTEJTDPTFTa U䜫OEFTDFOUSBEPTZEFTHBTUBEPTZTJMBT QJO[BTQJFSEFOM䜷RVJEP 1BSBPCUFOFSN䜫TJOGPSNBDJ䜽OTPCSFMB DPNQSPCBDJ䜽OEFMM䜷NJUFEFEFTHBTUFEF MBT QBTUJMMBT P FM GPSSP SFDPNFOEBNPT RVF DPOTVMUF FM TJUJP XFC EF ,JB IUUQXXXLJBIPUMJOFDPN 1FSOPTEFNPOUBKFEFMB TVTQFOTJ䜽O $PNQSVFCF RVF MBT DPOFYJPOFT EF MB TVTQFOTJ䜽O OP FTU䜳O TVFMUBT OJ EB䜻Ba EBT7VFMWBBBQSFUBSBMQBSFTQFDJGJDBa EP $BKBEFMBEJSFDDJ䜽O DPOFYJPOFT ZS䜽UVMBEFMCSB[PJOGFSJPS GVOEBT $POFMWFI䜷DVMPQBSBEPZFMNPUPSBQBa HBEP DPNQSVFCFMBQPTJCMFIPMHVSBFYa DFTJWBEFMWPMBOUF $PNQSVFCF MBT DPOFYJPOFT QBSB WFS TJ FTU䜫O EPCMBEBT P EB䜻BEBT $PNQSVFCF MBTGVOEBTDPOUSBFMQPMWPZMBTS䜽UVMBT QBSBWFSTJIBZEFUFSJPSPT HSJFUBTPEBa 䜻PT$BNCJFUPEBTMBTQJF[BTEB䜻BEBT 䜋SCPMFTEFMBUSBOTNJTJ䜽OZ GVOEBT $PNQSVFCFTJIBZHSJFUBT EFUFSJPSPTP EB䜻PTFOMPT䜫SCPMFTEFMBUSBOTNJTJ䜽O MBTGVOEBTZMPTFOHBODIFT$BNCJFMBT QJF[BTEB䜻BEBTZ TJFTOFDFTBSJP WVFMa WBBMVCSJDBSMBTDPOHSBTB 3FGSJHFSBOUFEFMBJSF BDPOEJDJPOBEP TJFTU䜫FRVJQBEP $PNQSVFCF QPTJCMFT GVHBT Z EB䜻PT FO MPTDPOEVDUPTZMBTDPOFYJPOFTEFMBJSF BDPOEJDJPOBEP .BOUFOJNJFOUP
- 398. $*5%-.0503 $PNQSPCBDJ䜽OEFMOJWFMEFBDFJUF EFMNPUPS TFH䝄SFTF EFRVF TV WFI䜷DVMP FTU䜫 FOVOTVFMPOJWFMBEP SSBORVF FM NPUPS Z QFSNJUB RVF BMDBODF MB UFNQFSBUVSB OPSNBM EF GVODJPOBNJFOUP QBHVFFMNPUPSZFTQFSFVOPTNJa OVUPT VOPTNJOVUPT QBSBRVFFM BDFJUFSFHSFTFBMD䜫SUFS 4BRVFMBWBSJMMB M䜷NQJFMBZWVFMWBB DPMPDBSMBDPNQMFUBNFOUF %735/$* .BOHVFSBEFMSBEJBEPS $POUJO䝄B $POUJO䝄B /PUPRVFMBNBOHVFSBEFMSBEJBEPSBM SFWJTBSPB䜻BEJSFMBDFJUFEFMNPUPS ZBRVFQPES䜷BRVFNBSTF 7VFMWB B FYUSBFS MB WBSJMMB Z DPNa QSVFCFFMOJWFMMOJWFMEFCFS䜷BFOa DPOUSBSTFFOUSF' MMFOP Z- CBKP 5/$*䜝/ 䳜 /PMMFOFFOFYDFTPFMBDFJUFEFNPa UPS1PES䜷BEB䜻BSFMNPUPS 䳜 /PEFSSBNFBDFJUFEFMNPUPSBMSFa MMFOBSMP P DBNCJBSMP 4J EFSSBNB BDFJUF EFM NPUPS FO FM DPNQBSUJa NFOUPEFMNPUPS M䜷NQJFMPJONFEJBa UBNFOUF 䳜 6UJMJDFVOQB䜻PMJNQJPQBSBMJNQJBS MB WBSJMMB JOEJDBEPSB EFM OJWFM EF BDFJUF 4J TF NF[DMB DPO TVDJFEBE QPES䜷BDBVTBSEB䜻PTEFMNPUPS .BOUFOJNJFOUP
- 399. 4JFTU䜫DFSDBEF- CBKP B䜻BEBFMBDFJUF TVGJDJFOUFQBSBRVFMMFHVFB'MMFOP / /P MPMMFOFFOFYDFTP 6UJMJDF VO FNCVEP QBSB FWJUBS RVF FM BDFJUFTFEFSSBNFQPSMPTDPNQPOFOUFT EFMNPUPS 6UJMJDFTPMPFMBDFJUFEFMNPUPSFTQFDJGJa DBEP $POTVMUF䳖-VCSJDBOUFTZDBOUJEBa EFT SFDPNFOEBEPT䳗 FO MB Q䜫HJOB $BNCJPEFMBDFJUFEFMNPUPSZFM GJMUSP 4PMJDJUFFMSFFNQMB[PEFMBDFJUFEFMNPa UPS Z FM GJMUSP FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP %735/$* MBDFJUFEFNPUPSVTBEPQVFEFQSPa WPDBSJSSJUBDJPOFTPD䜫ODFSEFQJFMTJ TFEFKBFODPOUBDUPDPOMBQJFMEVSBOa UFVOQFSJPEPEFUJFNQPQSPMPOHBEP M BDFJUF EF NPUPS VTBEP DPOUJFOF TVTUBODJBT RV䜷NJDBT RVF DBVTBSPO D䜫ODFS B BOJNBMFT EF MBCPSBUPSJP 1SPUFKBTJFNQSFMBQJFMZM䜫WFTFNVZ CJFOMBTNBOPTDPOKBC䜽OZBHVBDBa $POUJO䝄B $POUJO䝄B MJFOUF EFTQV䜳T EF NBOFKBS BDFJUF VTBEP .BOUFOJNJFOUP
- 400. 3 3'3*(3/5%-.0503 ,11 -.1*(40-*/ ''7 ,11 -.1* MTJTUFNBEFSFGSJHFSBDJ䜽OEFBMUBQSFa TJ䜽OUJFOFVOEFQ䜽TJUPMMFOPEFSFGSJHFa SBOUF BOUJDPOHFMBOUF QBSB UPEP FM B䜻P MEFQ䜽TJUPTFMMFOBFOMBG䜫CSJDB $PNQSVFCF MB QSPUFDDJ䜽O BOUJDPOHFMBOa UFPOJWFMEFSFGSJHFSBOUFBMNFOPTVOB WF[BMB䜻P BMQSJODJQJPEFMBUFNQPSBEB EFJOWJFSOPZBOUFTEFWJBKBSBVODMJNB N䜫TGS䜷P 5/$*䜝/ 䳜 4JFMNPUPSTFTPCSFDBMJFOUBEFCJEP BVOOJWFMCBKPEFSFGSJHFSBOUFEFM NPUPS B䜻BEJSSFGSJHFSBOUFS䜫QJEBa NFOUF QPES䜷B DBVTBS HSJFUBT FO FM NPUPS 1BSB FWJUBS EB䜻PT B䜻BEB SFGSJHFSBOUF MFOUBNFOUF FO DBOUJa EBEFTQFRVF䜻BT 䳜 /P DPOEV[DB TJO SFGSJHFSBOUF EFM NPUPS1PES䜷BDBVTBSFMGBMMPEFMB CPNCBEFBHVBZFMBHBSSPUBNJFOa UPEFMNPUPS FUD $PNQSPCBDJ䜽OEFMOJWFMEF SFGSJHFSBOUF %735/$* YUSBFSFMUBQ䜽OEFMSBa EJBEPS 䳜 /P FYUSBJHB FM UBQ䜽O EFM SBEJBEPS DVBOEPFMNPUPSFTU䜳FONBSDIBP DBMJFOUF4JMPIBDF QVFEFEB䜻BSFM TJTUFNB EF SFGSJHFSBDJ䜽O Z FM NPa UPSEFN䜫T FMWBQPSPSFGSJHFSBOa UF DBMJFOUF QPES䜷B QSPEVDJS HSBWFT IFSJEBTQFSTPOBMFT $POUJO䝄B $POUJO䝄B 䳜 QBHVF FM NPUPS Z FTQFSF IBTUB RVFTFFOGS䜷FYUSFNFMBTQSFDBVa DJPOFTDVBOEPFYUSBJHBFMUBQ䜽OEFM SBEJBEPS 3PEFF FM UBQ䜽O DPO VOB UPBMMB HSVFTB Z H䜷SFMP EFTQBDJP FO TFOUJEPBOUJIPSBSJPIBTUBFMQSJNFS UPQF䜓DIFTFBUS䜫TNJFOUSBTTFMJa CFSBMBQSFTJ䜽OEFMTJTUFNBEFSFa GSJHFSBDJ䜽O %FTQV䜳TEFDPOGJSNBSRVFTFIBZB MJCFSBEPMBQSFTJ䜽O B䝄ODPOMBUPBa MMB BQSJFUF FM UBQ䜽O IBDJB BCBKP Z DPOUJO䝄FHJS䜫OEPMPFOTFOUJEPBOUJa IPSBSJPIBTUBFYUSBFSMP 䳜 VORVFFMNPUPSOPFTU䜳FONBSa DIB OP FYUSBJHB FM UBQ䜽O P FM UBa Q䜽O EF ESFOBKF NJFOUSBT FM NPUPS Z FM SBEJBEPS FTU䜳O DBMJFOUFT 4F QPES䜷B RVFNBS DPO FM SFGSJHFSBOUF DBMJFOUF P DPO FM WBQPS RVF QVFEF TBMJSBQSFTJ䜽O .BOUFOJNJFOUP
- 401. %735/$* MNPUPSFM䜳DUSJDP WFOUJa MBEPS FTU䜫DPOUSPMBEPQPS MBUFNQFSBUVSBEFMSFGSJa HFSBOUFEFMNPUPSMBQSFa TJ䜽OEFMSFGSJHFSBOUFZMB WFMPDJEBEEFMWFI䜷DVMP WFDFTQVFEFBDDJPOBSTFDPOFMNPa UPS QBSBEP YUSFNF MBT QSFDBVDJPa OFTBMUSBCBKBSDFSDBEFMBTBTQBTEFM WFOUJMBEPSQBSBFWJUBSMFTJPOBSTFQPS MBSPUBDJ䜽OEFMBTNJTNBTNFEJEB RVFTFSFEVDFMBUFNQFSBUVSBEFMSFa GSJHFSBOUFEFMNPUPS FMNPUPSFM䜳Da USJDP TF EFTDPOFDUBS䜫 BVUPN䜫UJDBa NFOUFTUBFTVOBTJUVBDJ䜽OOPSNBM $PNQSVFCF FM FTUBEP Z MBT DPOFYJPOFT EFUPEBTMBTNBOHVFSBTEFMTJTUFNBEF SFGSJHFSBDJ䜽OZMBTNBOHVFSBTEFMBDBa MFGBDDJ䜽O $BNCJF MBT NBOHVFSBT TJ FTa U䜫OIJODIBEBTPEFUFSJPSBEBT M OJWFM EF SFGSJHFSBOUF EFCF FTUBS FOa USFMBTNBSDBT.9Z.*/ 'Z- DPMPa DBEBTBVOMBEPEFMEFQ䜽TJUPEFSFGSJHFa SBOUFDVBOEPFMNPUPSFTU䜫GS䜷P 4JFMOJWFMEFSFGSJHFSBOUFFTCBKP B䜻BEB TVGJDJFOUF BHVB EFTUJMBEB EFTJPOJ[BEB PBHVBCMBOEB-MFOFIBTUBFMOJWFM.9 ' QFSPOPMMFOFFOFYDFTP 4JOFDFTJUBB䜻BEJSMPDPOGSFDVFODJB TPMJa DJUFMBJOTQFDDJ䜽OEFMTJTUFNBFOVOUBa MMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 3FGSJHFSBOUFEFMNPUPS SFDPNFOEBEP 䳜 M B䜻BEJS SFGSJHFSBOUF VUJMJDF T䜽MP BHVBEFTJPOJ[BEBPBHVBCMBOEBQBSB TVWFI䜷DVMPZOVODBNF[DMFBHVBEVSB DPOFMSFGSJHFSBOUFMMFOBEPFOMBG䜫CSJa DB 6O NF[DMB JODPSSFDUB EF SFGSJHFa SBOUF QVFEF QSPWPDBS HSBWFT BWFS䜷BT PEB䜻PTFOFMNPUPS 䳜 M NPUPS EF TV WFI䜷DVMP FTU䜫 DPNa QVFTUPEFQJF[BTEFBMVNJOJPRVFEFa CFOQSPUFHFSTFNFEJBOUFVOSFGSJHFa SBOUFBCBTFEFFUJMFOHMJDPMDPOGPTGBa UPQBSBFWJUBSMBDPSSPTJ䜽OZFMDPOHFa MBNJFOUP 䳜 /0 65*-*$ SFGSJHFSBOUFT DPO BMDPIPM P NFUBOPM OJ MPT NF[DMF DPO FM SFGSJa HFSBOUFFTQFDJGJDBEP 䳜 /P VUJMJDF VOB TPMVDJ䜽O RVF DPOUFOHB N䜫TEFMEFBOUJDPOHFMBOUFPNFa OPTEFMEFBOUJDPOHFMBOUF MPRVF SFEVDJS䜷BMBFGFDUJWJEBEEFMBTPMVDJ䜽O $POTVMUF MPT QPSDFOUBKFT EF MB NF[DMB FOMBUBCMBTJHVJFOUF .BOUFOJNJFOUP
- 402. 5 5FNQFSBUVSB BNCJFOUF 1PSDFOUBKFEFNF[DMB WPMVNFO OUJDPOHFa MBOUF HVB 䛺$ 䛺$ 䛺$ 䛺$ %735/$* 5BQ䜽OEFMSBEJBEPS /VODBFYUSBJHBFMUBQ䜽OEFMSBEJBEPS DVBOEPFMNPUPSZFMSBEJBEPSFTU䜳O DBMJFOUFT 4F QPES䜷B RVFNBS DPO FM SFGSJHFSBOUF DBMJFOUF P DPO FM WBQPS RVFQVFEFTBMJSBQSFTJ䜽O $BNCJPEFMSFGSJHFSBOUF 4PMJDJUFFMDBNCJPEFMSFGSJHFSBOUFFOVO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJa UBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP 5/$*䜝/ $PMPRVF VO QB䜻P HSVFTP BMSFEFEPS EFM UBQ䜽O EFM SBEJBEPS BOUFT EF FDIBSFMSFGSJHFSBOUFQBSBFWJUBSRVF FM M䜷RVJEP TF EFSSBNF QPS BDDJEFOUF FOQJF[BTEFMNPUPS DPNPFMDBTPEFM BMUFSOBEPS %735/$* 3FGSJHFSBOUF 䳜 /P VUJMJDF SFGSJHFSBOUF OJ BOUJDPOa HFMBOUFEFMSBEJBEPSFOFMEFQ䜽TJUP EFMM䜷RVJEPMJNQJBQBSBCSJTBT 䳜 MSFGSJHFSBOUFEFMSBEJBEPSEJGJDVMa UBS䜷B MB WJTJCJMJEBE BM FYUFOEFSTF TPCSF FM QBSBCSJTBT QSPWPDBOEP MB Q䜳SEJEBEFMDPOUSPMEFMWFI䜷DVMPPMB QJOUVSBZFMHVBSOFDJEPEFMBDBSSPa DFS䜷BTFEB䜻BS䜷BO .BOUFOJNJFOUP
- 403. 3 3'3*(3/5%-.0503 ,11 -5(%* MTJTUFNBEFSFGSJHFSBDJ䜽OEFBMUBQSFa TJ䜽OUJFOFVOEFQ䜽TJUPMMFOPEFSFGSJHFa SBOUFBOUJDPOHFMBOUF QBSB UPEP FM B䜻P MEFQ䜽TJUPTFMMFOBFOMBG䜫CSJDB $PNQSVFCF MB QSPUFDDJ䜽O BOUJDPOHFMBOa UFPOJWFMEFSFGSJHFSBOUFBMNFOPTVOB WF[BMB䜻P BMQSJODJQJPEFMBUFNQPSBEB EFJOWJFSOPZBOUFTEFWJBKBSBVODMJNB N䜫TGS䜷P 5/$*䜝/ 䳜 4JFMNPUPSTFTPCSFDBMJFOUBEFCJEP BVOOJWFMCBKPEFSFGSJHFSBOUFEFM NPUPS B䜻BEJSSFGSJHFSBOUFS䜫QJEBa NFOUF QPES䜷B DBVTBS HSJFUBT FO FM NPUPS 1BSB FWJUBS EB䜻PT B䜻BEB SFGSJHFSBOUF MFOUBNFOUF FO DBOUJa EBEFTQFRVF䜻BT 䳜 /P DPOEV[DB TJO SFGSJHFSBOUF EFM NPUPS1PES䜷BDBVTBSFMGBMMPEFMB CPNCBEFBHVBZFMBHBSSPUBNJFOa UPEFMNPUPS FUD $PNQSPCBDJ䜽OEFMOJWFMEF SFGSJHFSBOUF %735/$* YUSBFSFMUBQ䜽OEFMSBa EJBEPS 䳜 /P FYUSBJHB FM UBQ䜽O EFM SBEJBEPS DVBOEPFMNPUPSFTU䜳FONBSDIBP DBMJFOUF4JMPIBDF QVFEFEB䜻BSFM TJTUFNB EF SFGSJHFSBDJ䜽O Z FM NPa UPSEFN䜫T FMWBQPSPSFGSJHFSBOa UF DBMJFOUF QPES䜷B QSPEVDJS HSBWFT IFSJEBTQFSTPOBMFT $POUJO䝄B $POUJO䝄B 䳜 QBHVF FM NPUPS Z FTQFSF IBTUB RVFTFFOGS䜷FYUSFNFMBTQSFDBVa DJPOFTDVBOEPFYUSBJHBFMUBQ䜽OEFM SBEJBEPS 3PEFF FM UBQ䜽O DPO VOB UPBMMB HSVFTB Z H䜷SFMP EFTQBDJP FO TFOUJEPBOUJIPSBSJPIBTUBFMQSJNFS UPQF䜓DIFTFBUS䜫TNJFOUSBTTFMJa CFSBMBQSFTJ䜽OEFMTJTUFNBEFSFa GSJHFSBDJ䜽O %FTQV䜳TEFDPOGJSNBSRVFTFIBZB MJCFSBEPMBQSFTJ䜽O B䝄ODPOMBUPBa MMB BQSJFUF FM UBQ䜽O IBDJB BCBKP Z DPOUJO䝄FHJS䜫OEPMPFOTFOUJEPBOUJa IPSBSJPIBTUBFYUSBFSMP 䳜 VORVFFMNPUPSOPFTU䜳FONBSa DIB OP FYUSBJHB FM UBQ䜽O P FM UBa Q䜽O EF ESFOBKF NJFOUSBT FM NPUPS Z FM SBEJBEPS FTU䜳O DBMJFOUFT 4F QPES䜷B RVFNBS DPO FM SFGSJHFSBOUF DBMJFOUF P DPO FM WBQPS RVF QVFEF TBMJSBQSFTJ䜽O .BOUFOJNJFOUP
- 404. %735/$* MNPUPSFM䜳DUSJDP WFOUJa MBEPS FTU䜫DPOUSPMBEPQPS MBUFNQFSBUVSBEFMSFGSJa HFSBOUFEFMNPUPSMBQSFa TJ䜽OEFMSFGSJHFSBOUFZMB WFMPDJEBEEFMWFI䜷DVMP WFDFTQVFEFBDDJPOBSTFDPOFMNPa UPS QBSBEP YUSFNF MBT QSFDBVDJPa OFTBMUSBCBKBSDFSDBEFMBTBTQBTEFM WFOUJMBEPSQBSBFWJUBSMFTJPOBSTFQPS MBSPUBDJ䜽OEFMBTNJTNBTNFEJEB RVFTFSFEVDFMBUFNQFSBUVSBEFMSFa GSJHFSBOUFEFMNPUPS FMNPUPSFM䜳Da USJDP TF EFTDPOFDUBS䜫 BVUPN䜫UJDBa NFOUFTUBFTVOBTJUVBDJ䜽OOPSNBM $PNQSVFCF FM FTUBEP Z MBT DPOFYJPOFT EFUPEBTMBTNBOHVFSBTEFMTJTUFNBEF SFGSJHFSBDJ䜽OZMBTNBOHVFSBTEFMBDBa MFGBDDJ䜽O $BNCJF MBT NBOHVFSBT TJ FTa U䜫OIJODIBEBTPEFUFSJPSBEBT M OJWFM EF SFGSJHFSBOUF EFCF FTUBS FOa USFMBTNBSDBT.9Z.*/DPMPDBEBTB VO MBEP EFM EFQ䜽TJUP EF SFGSJHFSBOUF DVBOEPFMNPUPSFTU䜫GS䜷P 4JFMOJWFMEFSFGSJHFSBOUFFTCBKP B䜻BEB TVGJDJFOUF BHVB EFTUJMBEB EFTJPOJ[BEB PBHVBCMBOEB-MFOFIBTUBFMOJWFM.9 QFSPOPMMFOFFOFYDFTP 4JOFDFTJUBB䜻BEJSMPDPOGSFDVFODJB TPMJa DJUFMBJOTQFDDJ䜽OEFMTJTUFNBFOVOUBa MMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP /05 TFH䝄SFTFEFRVFFMUBQ䜽OEFMSFGSJa HFSBOUF TF IBZB DFSSBEP BEFDVBEBa $POUJO䝄B .BOUFOJNJFOUP
- 405. $POUJO䝄B NFOUFEFTQV䜳TEFMMFOBSFMEFQ䜽TJUP EFSFGSJHFSBOUF %F MP DPOUSBSJP FM NPUPS TF QPES䜷B TPCSFDBMFOUBSEVSBOUFMBDPOEVDDJ䜽O $PNQSVFCF RVF MB FUJRVFUB EFM UBQ䜽O EFM SBEJBEPS RVFEF PSJFOa UBEBIBDJBEFMBOUF $POUJO䝄B $POUJO䝄B TFH䝄SFTF EF RVF MBT QFRVF䜻BT QSPUVCFSBODJBTFOFMJOUFSJPSEFM UBQ䜽O EF SFGSJHFSBOUF FTU䜳O JOa UFSCMPRVFBEBT EF NBOFSB TFHVa SB 3FGSJHFSBOUFEFMNPUPS SFDPNFOEBEP 䳜 M B䜻BEJS SFGSJHFSBOUF VUJMJDF T䜽MP BHVBEFTJPOJ[BEBPBHVBCMBOEBQBSB TVWFI䜷DVMPZOVODBNF[DMFBHVBEVSB DPOFMSFGSJHFSBOUFMMFOBEPFOMBG䜫CSJa DB6OBNF[DMBJODPSSFDUBEFSFGSJHFa SBOUF QVFEF QSPWPDBS HSBWFT BWFS䜷BT PEB䜻PTFOFMNPUPS 䳜 M NPUPS EF TV WFI䜷DVMP FTU䜫 DPNa QVFTUPEFQJF[BTEFBMVNJOJPRVFEFa CFOQSPUFHFSTFNFEJBOUFVOSFGSJHFa SBOUFBCBTFEFFUJMFOHMJDPMDPOGPTGBa UPQBSBFWJUBSMBDPSSPTJ䜽OZFMDPOHFa MBNJFOUP 䳜 /0 65*-*$ SFGSJHFSBOUFT DPO BMDPIPM P NFUBOPM OJ MPT NF[DMF DPO FM SFGSJa HFSBOUFFTQFDJGJDBEP 䳜 /P VUJMJDF VOB TPMVDJ䜽O RVF DPOUFOHB N䜫TEFMEFBOUJDPOHFMBOUFPNFa OPTEFMEFBOUJDPOHFMBOUF MPRVF SFEVDJS䜷BMBFGFDUJWJEBEEFMBTPMVDJ䜽O $POTVMUF MPT QPSDFOUBKFT EF MB NF[DMB FOMBUBCMBTJHVJFOUF 5FNQFSBUVSB BNCJFOUF 1PSDFOUBKFEFNF[DMB WPMVNFO OUJDPOHFa MBOUF HVB 䛺$ 䛺$ 䛺$ 䛺$ .BOUFOJNJFOUP
- 406. $ $BNCJPEFMSFGSJHFSBOUF 4PMJDJUFFMDBNCJPEFMSFGSJHFSBOUFFOVO UBMMFS QSPGFTJPOBM ,JBSFDPNJFOEB WJTJa UBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP 5/$*䜝/ $PMPRVF VO QB䜻P HSVFTP BMSFEFEPS EFM UBQ䜽O EFM SBEJBEPS BOUFT EF FDIBSFMSFGSJHFSBOUFQBSBFWJUBSRVF FM M䜷RVJEP TF EFSSBNF QPS BDDJEFOUF FOQJF[BTEFMNPUPS DPNPFMDBTPEFM BMUFSOBEPS %735/$* 3FGSJHFSBOUF 䳜 /P VUJMJDF SFGSJHFSBOUF OJ BOUJDPOa HFMBOUFEFMSBEJBEPSFOFMEFQ䜽TJUP EFMM䜷RVJEPMJNQJBQBSBCSJTBT 䳜 MSFGSJHFSBOUFEFMSBEJBEPSEJGJDVMa UBS䜷B MB WJTJCJMJEBE BM FYUFOEFSTF TPCSF FM QBSBCSJTBT QSPWPDBOEP MB Q䜳SEJEBEFMDPOUSPMEFMWFI䜷DVMPPMB QJOUVSBZFMHVBSOFDJEPEFMBDBSSPa DFS䜷BTFEB䜻BS䜷BO .BOUFOJNJFOUP
- 407. - -䜗26*%0%'3/04.#3(6 4*45䜋26*1%0 $PNQSPCBDJ䜽OEFMM䜷RVJEPEFM FNCSBHVFZEFGSFOPT $PNQSVFCF QFSJ䜽EJDBNFOUFFM OJWFM EF M䜷RVJEPFOFMEFQ䜽TJUPMOJWFMEFM䜷RVJEP EFCFFTUBSFOUSFMBTNBSDBT.*/Z.9 TJUVBEBTBVOMBEPEFMEFQ䜽TJUP OUFT EF RVJUBS MB UBQB EFM EFQ䜽TJUP Z B䜻BEJSM䜷RVJEPEFMGSFOPFNCSBHVF MJNa QJFMB[POBEFBMSFEFEPSEFMBUBQBEFM EFQ䜽TJUP QBSB FWJUBS MB DPOUBNJOBDJ䜽O EFMM䜷RVJEPEFMGSFOPFNCSBHVF 4JFMOJWFMFTCBKP B䜻BEBM䜷RVJEPIBTUBFM OJWFM.9MOJWFMCBKBS䜫BNFEJEBRVF TF WBZBO BDVNVMBOEP LJM䜽NFUSPT TUB FTVOBDPOEJDJ䜽OOPSNBMBTPDJBEBDPOFM EFTHBTUFEFMPTGPSSPTEFMGSFOP 4J FM OJWFM EF M䜷RVJEP FT FYDFTJWBNFOUF CBKP TPMJDJUFMBDPNQSPCBDJ䜽OEFMTJTUFa NB FO VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 6UJMJDFT䜽MPFMM䜷RVJEPEFGSFOPTFTQFDJGJa DBEP $POTVMUF䳖-VCSJDBOUFTZDBOUJEBa EFT SFDPNFOEBEPT䳗 FO MB Q䜫HJOB /VODBNF[DMFEJGFSFOUFTUJQPTEFM䜷RVJa EP %735/$* 'VHB EFM M䜷RVJEP EF GSFOPTEF FNCSBHVF $POUJO䝄B $POUJO䝄B O DBTP EF RVF TFB OFDFTBSJP SFMMFa OBSDPOGSFDVFODJBFMM䜷RVJEPEFMTJTa UFNBEFGSFOPTFNCSBHVF TPMJDJUF MBJOTQFDDJ䜽OEFMTJTUFNBFOVOUBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JBBVUPSJ[BEP %735/$* -䜷RVJEPEFGSFOPTFNCSBHVF MDBNCJBSPB䜻BEJSFMM䜷RVJEPEFGSFa OPTFNCSBHVF I䜫HBMP DPO FYUSFNP DVJEBEP WJUF FM DPOUBDUP DPO MPT PKPT4JFTUPPDVSSJFTF M䜫WFMPTJONFa EJBUBNFOUFDPOBCVOEBOUFBHVB)䜫a HBTFSFWJTBSMPTPKPTMPBOUFTQPTJCMF QPSVON䜳EJDP 5/$*䜝/ WJUFRVFFMM䜷RVJEPEFGSFOPTFNCSBa HVFFOUSFFODPOUBDUPDPOMBQJOUVSB EFM WFI䜷DVMP ZB RVF QPES䜷B FTUSPa $POUJO䝄B .BOUFOJNJFOUP
- 408. $POUJO䝄B QFBSMB /P VUJMJDFM䜷RVJEP EF GSFOPT FNCSBHVFRVFIBZBFTUBEPFYQVFTUP BMBJSFMJCSFEVSBOUFVOQFS䜷PEPMBSHP ZBRVFTVDBMJEBEOPFTU䜫HBSBOUJ[Ba EB %FCFS䜷B FMJNJOBSTF BEFDVBEBa NFOUF/PB䜻BEBVOBDMBTFEFM䜷RVJEP FSS䜽OFB6OBTQPDBTHPUBTEFBDFJUF NJOFSBM DPNPBDFJUFEFMNPUPS FOFM TJTUFNB EF GSFOPTFNCSBHVF QVFEF EB䜻BSQJF[BTEFMTJTUFNBEFGSFOBEP FNCSBHVF .BOUFOJNJFOUP
- 409. - -䜗26*%0%-53/4.*4*䜝/650.䜋5*$ 4*45䜋26*1%0 $PNQSPCBDJ䜽OEFMOJWFMEF M䜷RVJEPEFMBUSBOTNJTJ䜽O BVUPN䜫UJDB MOJWFMEFMM䜷RVJEPEFMBUSBOTNJTJ䜽OBVa UPN䜫UJDB EFCFDPNQSPCBSTF SFHVMBSa NFOUF .BOUFOHB FM WFI䜷DVMP BM OJWFM EFM TVFMP DPOFMGSFOPEFFTUBDJPOBNJFOUPQVFTUP Z DPNQSVFCF FM OJWFM EF M䜷RVJEP EF BDVFSEPDPOFMTJHVJFOUFQSPDFEJNJFOUP $PMPRVF MB QBMBODB EF DBNCJPT FO QPTJDJ䜽O / QVOUP NVFSUP Z DPNa QSVFCF RVF FM NPUPS FTU䜫 GVODJPa OBOEPBWFMPDJEBEEFSBMFOU䜷 /05 *OUSPEV[DBFMJOEJDBEPSEFOJWFM EFTa QV䜳TEFDPNQSPCBSFMOJWFMEFMM䜷RVJa EPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB FO MBEJSFDDJ䜽ORVFTFJOEJDBFOMBJNBa HFO 5/$*䜝/ 4J JOUSPEVDF FM JOEJDBEPS EF OJWFM FO MB EJSFDDJ䜽O FRVJWPDBEB FM JOEJDBEPS EF OJWFM TF QPES䜷B EFGPSNBS P EBa 䜻BS %FTQV䜳TEFRVFTFIBZBDBMFOUBEP FM USBOTFKF MP TVGJDJFOUF UFNQFSBa UVSB EFM M䜷RVJEP _ 䛺$ QPS FKFNQMP USBT NJOVUPT EF DPOa EVDDJ䜽OOPSNBM DBNCJFMBQBMBODBB UPEBT MBT QPTJDJPOFT Z EFTQV䜳T DPa MPRVFMBQBMBODBEFDBNCJPTFOQPa TJDJ䜽O/ QVOUPNVFSUP P1 FTUBa DJPOBNJFOUP $PNQSVFCF RVF FM OJWFM EF M䜷RVJEP FTU䜫FOFMNBSHFO䳖)05䳗FOFMJOEJa DBEPSEFOJWFM4JFMM䜷RVJEPFTJOGFa SJPS B䜻BEB FM M䜷RVJEP FTQFDJGJDBEP QPSFMPSJGJDJPEFMMMFOBEP4JFMM䜷RVJa EPFTTVQFSJPS ESFOFFMM䜷RVJEPFTa QFD䜷GJDPQPSFMPSJGJDJPEFMESFOBKF .BOUFOJNJFOUP
- 410. 4J TF DPNQSVFCBFM OJWFM EF M䜷RVJEP FOGS䜷PUFNQFSBUVSBEFMM䜷RVJEPFOa USF_䛺$ B䜻BEBM䜷RVJEPIBTUB MB NBSDB $0-% GS䜷P Z WVFMWB B DPOUSPMBS FM OJWFM EFM M䜷RVJEP EF BDVFSEPDPOFMQBTP %735/$* -䜷RVJEPEFMBUSBOTNJTJ䜽O 4FEFCFDPNQSPCBSFMOJWFMEFM䜷RVJEP EF MB USBOTNJTJ䜽O DPO FM NPUPS FO UFNQFSBUVSB PQFSBUJWB OPSNBM TUP TJHOJGJDBRVFFMNPUPS FMSBEJBEPS FM DPOEVDUP EFM SBEJBEPS Z FM TJTUFNB EFFTDBQF FUD FTU䜫ONVZDBMJFOUFT 5FOHBNVDIPDVJEBEPEFOPRVFNBSa TFNJFOUSBTMMFWBBDBCPFTUFQSPDFa EJNJFOUP 5/$*䜝/ 䳜 6OOJWFMCBKPEFMM䜷RVJEPQSPWPDBFM EFTMJ[BNJFOUP EFM DBNCJP EF MB USBOTNJTJ䜽O6OBDBOUJEBEFYDFTJWB QVFEFDSFBSFTQVNB Q䜳SEJEBEFMM䜷a RVJEPZVONBMGVODJPOBNJFOUPEF MBUSBOTNJTJ䜽O $POUJO䝄B $POUJO䝄B 䳜 MVTPEFVOM䜷RVJEPOPFTQFDJGJDBEP QVFEF QSPWPDBS VO NBM GVODJPOBa NJFOUPPVOGBMMPEFMBUSBOTNJTJ䜽O %735/$* 'SFOPEFFTUBDJPOBNJFOUP WJUFMPTNPWJNJFOUPTSFQFOUJOPTEFM WFI䜷DVMP BKVTUF FM GSFOP EF FTUBDJPa OBNJFOUPZTVFMUFFMQFEBMEFMGSFOP BOUFT EF NPWFS MB QBMBODB EF DBNa CJPT /05 -BNBSDB䳖$0-%䳗FT䝄OJDBNFOUFQBa SBSFGFSFODJBZOPEFCFVUJMJ[BSTFQBa SBEFUFSNJOBSFMOJWFMEFM䜷RVJEPEFMB USBOTNJTJ䜽O /05 M OVFWP M䜷RVJEP EF MB USBOTNJTJ䜽O BVUPN䜫UJDBEFCFTFSSPKPMUJOUFSPa KPTFB䜻BEFQBSBRVFMPTFNQMFBEPT FOQMBOUBQVFEBOJEFOUJGJDBSFMM䜷RVJa EP EF MB USBOTNJTJ䜽O BVUPN䜫UJDB Z EJTUJOHVJSMP EFM BDFJUF P EFM BOUJDPOa HFMBOUFEFMNPUPSMUJOUFSPKP RVF OP FT OJOH䝄O JOEJDBEPS EF MB DBMJEBE EFMM䜷RVJEP OPFTQFSNBOFOUFNFa EJEBRVFTFDPOEVDFFMDPDIF FMM䜷RVJa EP EF MB USBOTNJTJ䜽O BVUPN䜫UJDB TF IBS䜫N䜫TPTDVSPMDPMPSQVFEFMMFa HBSBTFSEFDPMPSNBSS䜽ODMBSP 6UJMJDF TPMP FM M䜷RVJEP EF MB USBOTNJTJ䜽O BVUPN䜫UJDBFTQFDJGJDBEP $POTVMUF䳖-Va CSJDBOUFT Z DBOUJEBEFT SFDPNFOEBEPT䳗 FOMBQ䜫HJOB $BNCJPEFMM䜷RVJEPEFMB USBOTNJTJ䜽OBVUPN䜫UJDB 4PMJDJUFFMDBNCJPEFMM䜷RVJEPEFMUSBOTFKF BVUPN䜫UJDP FO VO UBMMFS QSPGFTJPOBM EF BDVFSEPDPOFM䳖DBMFOEBSJPEFNBOUFOJa NJFOUP䳗 FO MB Q䜫HJOB ,JB SFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP .BOUFOJNJFOUP
- 411. - -䜗26*%0-*.1*13#3*44 $PNQSPCBDJ䜽OEFMOJWFMEF M䜷RVJEPMJNQJBQBSBCSJTBT M EFQ䜽TJUP FTUSBOTM䝄DJEP QBSB RVF QVFEBDPNQSPCBSFMOJWFMDPOVOBS䜫QJa EBDPNQSPCBDJ䜽OWJTVBM $PNQSVFCFFMOJWFMEFMM䜷RVJEPFOFMEFa Q䜽TJUP EFM M䜷RVJEP MJNQJBQBSBCSJTBT Z B䜻BEB M䜷RVJEP TJ FT OFDFTBSJP 6UJMJDF BHVBMJNQJBTJOPEJTQPOFEFM䜷RVJEPMJNa QJBQBSBCSJTBT /P PCTUBOUF FO DMJNBT GS䜷PTEFCFVUJMJ[BSTFEJTPMWFOUFQBSBMBa WBQBSBCSJTBT DPO DBSBDUFS䜷TUJDBT BOUJa DPOHFMBOUFTQBSBFWJUBSTVDPOHFMBDJ䜽O %735/$* 3FGSJHFSBOUF 䳜 /P VUJMJDF SFGSJHFSBOUF OJ BOUJDPOa HFMBOUFEFMSBEJBEPSFOFMEFQ䜽TJUP EFMM䜷RVJEPMJNQJBQBSBCSJTBT 䳜 MSFGSJHFSBOUFEFMSBEJBEPSEJGJDVMa UBS䜷B MB WJTJCJMJEBE BM FYUFOEFSTF TPCSF FM QBSBCSJTBT QSPWPDBOEP MB Q䜳SEJEBEFMDPOUSPMEFMWFI䜷DVMPPMB QJOUVSBZFMHVBSOFDJEPEFMBDBSSPa DFS䜷BTFEB䜻BS䜷BO $POUJO䝄B $POUJO䝄B 䳜 -PTBHFOUFTEFMM䜷RVJEPMJNQJBQBSBa CSJTBTDPOUJFOFODBOUJEBEFTEFBMa DPIPM JOGMBNBCMFT FO DJFSUBT DJSa DVOTUBODJBT MFKF DVBMRVJFS DIJTQB PMMBNBEFMM䜷RVJEPMJNQJBQBSBCSJTBT P EFM EFQ䜽TJUP EFM NJTNP 1PES䜷B QSPWPDBSEB䜻PTBMWFI䜷DVMPPBTVT PDVQBOUFT 䳜 M M䜷RVJEP EFM MJNQJBQBSBCSJTBT FT WFOFOPTPQBSBMPTIVNBOPTZBOJa NBMFT/PJOHJFSBFMM䜷RVJEPMJNQJBa QBSBCSJTBT Z FWJUF FM DPOUBDUP EJa SFDUP 1PES䜷B PDBTJPOBSMF MFTJPOFT HSBWFTPMBNVFSUF .BOUFOJNJFOUP
- 412. ' '3/0%45$*0/.*/50 $PNQSPCBDJ䜽OEFMGSFOPEF FTUBDJPOBNJFOUP $PNQSVFCFFMSFDPSSJEPEFMGSFOPEFFTa UBDJPOBNJFOUP DPOUBOEP FMO䝄NFSP EF 䳖DMJDT䳗 RVF TF FTDVDIBO BM MFWBOUBSMP DPNQMFUBNFOUF EFTEF MB QPTJDJ䜽O EF EFTFOHBODIF M GSFOP EF FTUBDJPOBa NJFOUPUBNCJ䜳OEFCFNBOUFOFSFMWFI䜷a DVMP EF GPSNB TFHVSB FO QFOEJFOUFT QSPOVODJBEBT4JMBDBSSFSBFTTVQFSJPSP JOGFSJPS BM WBMPS FTQFDJGJDBEP TPMJDJUF FM NBOUFOJNJFOUPEFMTJTUFNBFOVOUBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP $BSSFSB _ 䳖DMJDT䳓䳓 B VOB GVFS[B EF LH / .BOUFOJNJFOUP
- 413. 1 163*'*$%03%*3 ,11 -.1*(40-*/ ''7 ,11 -.1* (40-*/ $BNCJPEFMGJMUSP %FCF DBNCJBSTF DVBOEP TFB OFDFTBSJP OPEFCFMJNQJBSTF 1VFEF MJNQJBS FM GJMUSP BM DPNQSPCBS FM FMFNFOUPQVSJGJDBEPSEFBJSF -JNQJFFMGJMUSPVTBOEPBJSFDPNQSJNJEP GMPKFMPTDMJQTEFTVKFDJ䜽OEFMBDVa CJFSUB EFM QVSJGJDBEPS EF BJSF Z FYa USBJHBFMUVCPEFMQVSJGJDBEPSEFBJa SF -JNQJFFMJOUFSJPSEFMUVCPEFMQVSJGJa DBEPSEFBJSF $BNCJFFMGJMUSPQVSJGJDBEPSEFBJSF #MPRVFFMBDVCJFSUBEFMUVCPEFMQVa SJGJDBEPSEFBJSFDPOMPTDMJQTEFTVa KFDJ䜽OEFMBDVCJFSUB $BNCJFFMGJMUSPTFH䝄OFM䳖$BMFOEBSJPEF NBOUFOJNJFOUP䳗FOMBQ䜫HJOB 4JFMWFI䜷DVMPTFVUJMJ[BFO[POBTQPMWPa SJFOUBTZBSFOPTBT DBNCJFFMFMFNFOUP N䜫T GSFDVFOUFNFOUF RVF FO MPT JOUFSa WBMPTSFDPNFOEBEPT $POTVMUF䳖.BOUFa OJNJFOUP FO DPOEJDJPOFT EF VTP BEWFSa TBT䳗FOMBQ䜫HJOB 5/$*䜝/ 䳜 /PDPOEV[DBTJOQVSJGJDBEPSEFBJa SFFTUPQPES䜷BEFTHBTUBSFOFYDFa TPFMNPUPS 䳜 M EFTNPOUBS FM GJMUSP QVSJGJDBEPS EF BJSF UFOHB DVJEBEP EF RVF OP FOUSFQPMWPPTVDJFEBEFOMBUPNB EFBJSF PQPES䜷BEB䜻BSMB $POUJO䝄B .BOUFOJNJFOUP
- 414. $POUJO䝄B 䳜 6UJMJDF QJF[BTEF SFDBNCJP QSPDFa EFOUFTEFVOUBMMFSQSPGFTJPOBM,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP .BOUFOJNJFOUP
- 415. 1 163*'*$%03%*3 ,11 -5(%* $BNCJPEFMGJMUSP %FCFDBNCJBSTF DVBOEP TFB OFDFTBSJP OPEFCFMJNQJBSTF 1VFEF MJNQJBS FM GJMUSP BM DPNQSPCBS FM FMFNFOUPQVSJGJDBEPSEFBJSF -JNQJFFMGJMUSPVTBOEPBJSFDPNQSJNJEP GMPKFMPTDMJQTEFTVKFDJ䜽OEFMBDVa CJFSUBEFMQVSJGJDBEPSEFBJSFZBCSB MBDVCJFSUB %FTCMPRVFF HJSBOEP MB QBMBODB EF CMPRVFPIBDJBBCBKP 5JSFEFMGJMUSPEFMQVSJGJDBEPSEFMBJSF QBSBDBNCJBSMP .BOUFOJNJFOUP
- 416. 5JSFEFMBQBMBODBIBDJBMBQPTJDJ䜽O -0$, CMPRVFP $PNQSVFCF RVF MB DVCJFSUB FTU䜫 JOTUBMBEBGJSNFNFOUF $BNCJFFMGJMUSPTFH䝄OFM䳖$BMFOEBSJPEF NBOUFOJNJFOUP䳗FOMBQ䜫HJOB 4JFMWFI䜷DVMPTFVUJMJ[BFO[POBTQPMWPa SJFOUBTZBSFOPTBT DBNCJFFMFMFNFOUP N䜫T GSFDVFOUFNFOUF RVF FO MPT JOUFSa WBMPTSFDPNFOEBEPT $POTVMUF䳖.BOUFa OJNJFOUP FO DPOEJDJPOFT EF VTP BEWFSa TBT䳗FOMBQ䜫HJOB 5/$*䜝/ 䳜 /PDPOEV[DBTJOQVSJGJDBEPSEFBJa SFFTUPQPES䜷BEFTHBTUBSFOFYDFa TPFMNPUPS 䳜 M EFTNPOUBS FM GJMUSP QVSJGJDBEPS EF BJSF UFOHB DVJEBEP EF RVF OP FOUSFQPMWPPTVDJFEBEFOMBUPNB EFBJSF PQPES䜷BEB䜻BSMB 䳜 6UJMJDF QJF[BT EF SFDBNCJP QSPDFa EFOUFTEFVOUBMMFSQSPGFTJPOBM,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[Ba EP .BOUFOJNJFOUP
- 417. ' '*-530%*3%-$0/530-%-$-*.5*;%03 $PNQSPCBDJ䜽OEFMGJMUSP MGJMUSPEFBJSFEFDPOUSPMEFMDMJNBUJ[Ba EPSEFCFDBNCJBSTFTFH䝄OFMDBMFOEBSJP EFNBOUFOJNJFOUP4JTFDPOEVDFFMWFa I䜷DVMP QPS DJVEBEFTNVZ DPOUBNJOBEBT P QPS DBSSFUFSBT DPO NVDIP QPMWP EVa SBOUFVOQFS䜷PEPMBSHPEFUJFNQP EFCF DPNQSPCBSTF N䜫T GSFDVFOUFNFOUF Z DBNCJBSMP BOUFT $VBOEP DBNCJF FM GJMa USP EFM BJSF EFM DMJNBUJ[BEPS D䜫NCJFMP SFBMJ[BOEPFMTJHVJFOUFQSPDFEJNJFOUPZ UFOHB DVJEBEP EF OP DBVTBS EB䜻PT FO MPTDPNQPOFOUFT $POMBHVBOUFSBBCJFSUB C䜫KFMBFNa QVKBOEPBNCPTMBEPTEFMBNJTNB YUSBJHBMBDVCJFSUBEFMGJMUSPEFBJSF EFMDPOUSPMEFMDMJNBUJ[BEPSQVMTBOa EPFMCMPRVFPBMBEFSFDIBEFMBDVa CJFSUB $BNCJF FM GJMUSP EF BJSF EF DPOUSPM EFMDMJNBUJ[BEPS 7VFMWBBNPOUBSMPTJHVJFOEPFMQSPa DFTP EF EFTNPOUBKF FO TFOUJEP JOa WFSTP /05 MDBNCJBSFMGJMUSPEFBJSFEFMDPOUSPM EFM DMJNBUJ[BEPS JOTU䜫MFMP DPSSFDUBa NFOUF %F MP DPOUSBSJP FM TJTUFNB QPES䜷BQSPEVDJSSVJEPZMBFGFDUJWJEBE EFMGJMUSPQPES䜷BWFSTFSFEVDJEB .BOUFOJNJFOUP
- 418. 4$0#*--4%--*.1*13#3*44 $PNQSPCBDJ䜽OEFMBTFTDPCJMMBT /05 -BT DFSBT DBMJFOUFTBQMJDBEBT FO MPT U䝄OFMFTEFMBWBEPBVUPN䜫UJDPQSPEVa DFO RVF FM QBSBCSJTBT TFB EJG䜷DJM EF MJNQJBS -B DPOUBNJOBDJ䜽O EFM QBSBCSJTBT P EF MBT FTDPCJMMBT DPO NBUFSJBMFT FYUSB䜻PT QVFEFSFEVDJSMBFGFDUJWJEBEEFMBTFTDPa CJMMBT -BT GVFOUFT N䜫T DPNVOFT EF DPOUBNJOBDJ䜽OTPOMPTJOTFDUPT MBTBWJB EFMPT䜫SCPMFTZMPTUSBUBNJFOUPTEFDFa SB DBMJFOUF VTBEPT FO BMHVOPT U䝄OFMFT EF MBWBEP BVUPN䜫UJDP 4J MBT FTDPCJMMBT OPMJNQJBODPSSFDUBNFOUF MJNQJFUBOUP MBMVOBDPNPMBTFTDPCJMMBTDPOVOCVFO MJNQJBEPSPDPOVOEFUFSHFOUFTVBWFZ FOKV䜫HVFMPTDPOBHVBMJNQJB 5/$*䜝/ 1BSB FWJUBS EB䜻PT FO MBT FTDPCJMMBT OPVUJMJDFHBTPMJOB RVFSPTFOP EJTPMa WFOUFT EF QJOUVSB OJ PUSPT EJTPMWFOa UFTDFSDBEFFTUBT $BNCJPEFMBTFTDPCJMMBT $VBOEP MPT MJNQJBQBSBCSJTBT ZB OP MJNa QJBOBEFDVBEBNFOUF MBTFTDPCJMMBTQPa ES䜷BOFTUBSEFTHBTUBEBTPBHSJFUBEBTZ EFCFODBNCJBSTF 5/$*䜝/ 1BSB FWJUBS EB䜻PT FO MPT CSB[PT EFM MJNQJBQBSBCSJTBT P FO PUSPT DPNQPa OFOUFT OPJOUFOUFNPWFSMPTMJNQJBa QBSBCSJTBTDPOMBNBOP 5/$*䜝/ MVTPEFVOBFTDPCJMMBEFMMJNQJBQBa SBCSJTBT OP FTQFDJGJDBEB QVFEF QSPa WPDBS VO NBM GVODJPOBNJFOUP P VO GBMMPEFMMJNQJBQBSBCSJTBT .BOUFOJNJFOUP
- 419. TDPCJMMBEFMQBSBCSJTBT 5JQP MFWFMBTFTDPCJMMBTZHJSFFMDPOKVOa UPEFMBFTDPCJMMBQBSBRVFNVFTUSF FMDMJQEFQM䜫TUJDPEFCMPRVFP 5/$*䜝/ /P EFKFRVF FM CSB[P EF MB FTDPCJMMB DBJHB DPOUSB FM QBSBCSJTBT ZB RVF QPES䜷BQSPEVDJSCSFDIBTPSPNQFSFM QBSBCSJTBT 1SFTJPOFFMDMJQZEFTMJDFFMDPOKVOUP EFMBSBTRVFUBIBDJBBCBKP M䜳WFMBEFMCSB[P *OTUBMFFMDPOKVOUPEFMBFTDPCJMMBTJa HVJFOEP FM QSPDFTP EF EFTNPOUBKF FOTFOUJEPJOWFSTP 5JQP# -FWBOUFFMCSB[PEFMMJNQJBQBSBCSJa TBT 5/$*䜝/ /P EFKF RVF FM CSB[P EF MB FTDPCJMMB DBJHB DPOUSB FM QBSBCSJTBT ZB RVF QPES䜷BQSPEVDJSCSFDIBTPSPNQFSFM QBSBCSJTBT .BOUFOJNJFOUP
- 420. MFWF FM QBTBEPSEF MB FTDPCJMMB EFM MJNQJBQBSBCSJTBT %FTQV䜳T CBKF FM DPOKVOUPEFMBFTDPCJMMBZRV䜷UFMB $PMPRVFFMOVFWPDPOKVOUPEFMBSBTa RVFUB TDPCJMMBTEFMBMVOBUSBTFSB -FWBOUFFMCSB[PEFMMJNQJBQBSBCSJa TBT Z UJSF IBDJB GVFSB EFM DPOa KVOUPEFMBFTDPCJMMB .POUFVOOVFWPDPOKVOUPEFMBFTa DPCJMMBDPMPDBOEPMBQBSUFDFOUSBMFO MB SBOVSB EFM CSB[P EFM MJNQJBQBSBa CSJTBTIBTUBRVFFODBKFFOTVTJUJP TFH䝄SFTFEFRVFFMDPOKVOUPEFMB FTDPCJMMB FTU䜫 JOTUBMBEP DPSSFDUBa NFOUFUJSBOEPMJHFSBNFOUFEFMNJTa NP 1BSB FWJUBS EB䜻PT FO MPT CSB[PT EF MPT MJNQJBQBSBCSJTBTPFOPUSPTDPNQPOFOa UFT TPMJDJUFFMSFFNQMB[PEFMBSBTRVFUB EFMMJNQJBQBSBCSJTBTFOVOUBMMFSQSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP .BOUFOJNJFOUP
- 421. # #53䜗 1BSBVOGVODJPOBNJFOUP䜽QUJNP EFMBCBUFS䜷B 䳜 .BOUFOHBMBCBUFS䜷BCJFONPOUBEB 䳜 .BOUFOHBMBQBSUFTVQFSJPSEFMBCBa UFS䜷BMJNQJBZTFDB 䳜.BOUFOHB MPT UFSNJOBMFT Z MBT DPOFa YJPOFTMJNQJBT BQSFUBEBTZDVCJFSUBT DPOWBTFMJOBPDPOHSBTBQBSBMPTUFSa NJOBMFT 䳜 OKVBHVF DVBMRVJFS Q䜳SEJEB EF FMFDa USPMJUPTEFMBCBUFS䜷BDPOVOBTPMVDJ䜽O EFCJDBSCPOBUPT䜽EJDPZBHVB 䳜 4JOPWBBVUJMJ[BSFMWFI䜷DVMPEVSBOUF VO MBSHP QFSJPEP EF UJFNQP EFTDPa OFDUFMPTDBCMFTEFMBCBUFS䜷B /05 -BT CBUFS䜷BT C䜫TJDBT OP OFDFTJUBO NBOUFOJNJFOUP 4J TV WFI䜷DVMP FTU䜫 FRVJQBEP DPO VOB CBUFS䜷B DPO MBT NBSDBT -083 Z 6113 B VO MBEP DPNQSVFCF FM OJWFM EF FMFDUSPMJUP M OJWFMEFFMFDUSPMJUPEFCFS䜫FTUBSFOa USFMBTNBSDBT-083Z61134JFM OJWFMEFFMFDUSPMJUPFTCBKP FTOFDFa TBSJP B䜻BEJS BHVB EFTUJMBEB EFTNJa OFSBMJ[BEB /VODBB䜻BEB䜫DJEPTVMa G䝄SJDP V PUSPT FMFDUSPMJUPT M SFMMFa OBS UFOHB DVJEBEP EF OP TBMQJDBS MB CBUFS䜷BZMPTDPNQPOFOUFTBEZBDFOa UFT:OPMMFOFFOFYDFTPMBTD䜳MVMBT $POUJO䝄B $POUJO䝄B EFMBCBUFS䜷B1VFEFDBVTBSDPSSPTJ䜽O FOPUSBTQJF[BT-VFHP BTFH䝄SFTFEF BQSFUBSMBTUBQBTEFMBTD䜳MVMBT1䜽Oa HBTFFODPOUBDUPDPOVOUBMMFSQSPGFa TJPOBM ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP %735/$* 1FMJHSPTEFMBCBUFS䜷B -FB EFUFOJEBNFOUF MBT TJa HVJFOUFT JOTUSVDDJPOFT BM NBOFKBSMBCBUFS䜷B .BOUFOHBNFDIFSPTZDVBMa RVJFS PUSP UJQP EF MMBNB P DIJTQBBMFKBEBEFMBCBUFS䜷B $POUJO䝄B .BOUFOJNJFOUP
- 422. $POUJO䝄B M IJES䜽HFOP VO HBT BMUBa NFOUF DPNCVTUJCMF FTU䜫 TJFNQSFQSFTFOUFFOMBD䜳MVa MBT EF MB CBUFS䜷BT Z QVFEF FYQMPUBSTJTFFODJFOEF .BOUFOHBMBTCBUFS䜷BTGVFSB EFMBMDBODFEFMPTOJ䜻PTQPSa RVF MBT CBUFS䜷BT DPOUJFOFO 䜫DJEP TVMG䝄SJDPT BMUBNFOUF DPSSPTJWP/PQFSNJUBRVFFM 䜫DJEPTVMG䝄SJDPFOUSFFODPOa UBDUPDPOMBQJFM MPTPKPT MB SPQBPFMBDBCBEPEFMBQJOa UVSB 4J MF FOUSB BMH䝄O FMFDUSPMJUP FO MPT PKPT M䜫WFTFMPT DPO BHVB MJNQJB BM NFOPT VOPT NJOVUPT Z TPMJDJUF BUFOa DJ䜽ON䜳EJDBMPBOUFTQPTJCMF 4JTVQJFMFOUSBFODPOUBDUP DPO FMFDUSPMJUPT MBWF NJOVa DJPTBNFOUFMB[POBEFDPOa UBDUP 4J TJFOUF EPMPS P VOB TFOTBDJ䜽OEFRVFNB[䜽O TPa MJDJUFBZVEBN䜳EJDBJONFEJBa UBNFOUF $POUJO䝄B $POUJO䝄B -MFWF VOB QSPUFDDJ䜽O QBSB MPTPKPTBMDBSHBSPBMUSBCBa KBS DFSDB EF VOB CBUFS䜷B 1SPDVSF RVF IBZB VOB CVFa OBWFOUJMBDJ䜽ODVBOEPUSBCBa KFFOVOTJUJPDFSSBEP %FTIBDFSTF JOBEFDVBEBa NFOUFEFVOBQJMBQVFEFTFS QFSKVEJDJBM QBSB FM NFEJP BNCJFOUF Z QBSB MB TBMVE %FTFDIFMBCBUFS䜷BTFH䝄OMBT EJTQPTJDJPOFTPSFHVMBDJPOFT MPDBMFTWJHFOUFT -B CBUFS䜷B DPOUJFOF QMPNP /P MB UJSF USBT VTBSMB 1䜽Oa HBTFFODPOUBDUPDPOVOUBa MMFS QSPGFTJPOBM ,JB SFDPa NJFOEBWJTJUBSVODFOUSPEF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 䳜 M FMFWBS VOB CBUFS䜷B EFOUSP EF VOB DBKB EF QM䜫TUJDP VOB QSFTJ䜽O FYDFTJWBFOMBDBKBQVFEFQSPWPDBS GVHBT EF 䜫DJEP EF MB CBUFS䜷B RVF SFTVMUBS䜷BOFOMFTJPOFTM䜳WFMBDPO VO TPQPSUF EF CBUFS䜷B P DPO MBT NBOPTFOMBTFTRVJOBTPQVFTUBT 䳜 /P JOUFOUF SFDBSHBS MB CBUFS䜷B DVBOEP MPT DBCMFT FTU䜫O DPOFDUBa EPT $POUJO䝄B $POUJO䝄B 䳜 M TJTUFNB EF FODFOEJEP FM䜳DUSJDP PQFSBDPOVOBUFOTJ䜽OBMUB/PUPa RVFFTUPTDPNQPOFOUFTDPOFMNPa UPS FO NBSDIB P DPO FM FODFOEJEP BDUJWBEP /PTFHVJSMBTBEWFSUFODJBTBOUFSJPSFT QVFEF DBVTBS MFTJPOFT HSBWFT P MB NVFSUF 5/$*䜝/ 䳜 4J OP WB B VUJMJ[BS FM WFI䜷DVMP EVa SBOUF VO MBSHP QFSJPEP EF UJFNQP FOVOB[POBDPOCBKBTUFNQFSBUVa SBT EFTDPOFDUF MB CBUFS䜷B Z NBOa UFOHBFMDPDIFFOVOMVHBSJOUFSJPS 䳜 $BSHVF DPNQMFUBNFOUF MB CBUFS䜷B QBSBFWJUBSRVFMBCBUFS䜷BTFEB䜻F FO VOB [POB EF CBKBT UFNQFSBUVa SBT 䳜 4JDPOFDUBEJTQPTJUJWPTFMFDUS䜽OJDPT OPBVUPSJ[BEPTBMBCBUFS䜷B MBCBa UFS䜷B QPES䜷B EFTDBSHBSTF /P VTF EJTQPTJUJWPTOPBVUPSJ[BEPT .BOUFOJNJFOUP
- 423. UJRVFUBEFDBQBDJEBEEFMB CBUFS䜷B 䙓 -B FUJRVFUBEF MB CBUFS䜷B SFBM EFM WFI䜷DVMP QVFEF OP DPJODJEJS DPO MB JMVTUSBDJ䜽O (.- %*/ /PNCSFEFMNPEFMPEFCBa UFS䜷BEF,JB I )3 $BQBDJEBEOPNJOBM FO BNQFSJPTIPSBT 3$ $BQBDJEBEEFSFTFSWBOPa NJOBM FONJO 7 7PMUBKFOPNJOBM $$ 4 $PSSJFOUFEFMBQSVFCBFO GS䜷PFOBNQFSJPTTFH䝄O 4 $PSSJFOUFEFMBQSVFCBFO GS䜷PFOBNQFSJPTTFH䝄O / 3FDBSHBEFMBCBUFS䜷B 4V WFI䜷DVMP UJFOF VOB CBUFS䜷B RVF OP OFDFTJUBNBOUFOJNJFOUPZDPOCBTFEF DBMDJP 䳜 4J MB CBUFS䜷B TF EFTDBSHB FO QPDP UJFNQP QPSRVF TF IBO EFKBEP QPS FKFNQMP MPTGBSPTZMBTMVDFTJOUFSJPa SFT FODFOEJEBT NJFOUSBT FM WFI䜷DVMP FTUBCB BQBHBEP SFD䜫SHVFMB MFOUBa NFOUF DPO VO DBSHBEPS EVSBOUF IPSBT 䳜 4JMBCBUFS䜷BTFEFTDBSHBHSBEVBMNFOa UF EFCJEP B BMUBT DBSHBT FM䜳DUSJDBT NJFOUSBT FTU䜫 VUJMJ[BOEP FM WFI䜷DVMP SFDBSHVFMBCBUFS䜷BBEVSBOa UFEPTIPSBT %735/$* 3FDBSHBEFMBCBUFS䜷B M SFDBSHBS MB CBUFS䜷B UFOHB FO DVFOUBMBTQSFDBVDJPOFTTJHVJFOUFT 䳜 -BCBUFS䜷BTFEFCFFYUSBFSDVBOEP FMWFI䜷DVMPTFFODVFOUSFFOVOB[Pa OBDPOCVFOBWFOUJMBDJ䜽O $POUJO䝄B $POUJO䝄B 䳜 MFKFEFMBCBUFS䜷BDJHBSSJMMPT DIJTa QBTPMMBNBT 䳜 7JHJMFMBCBUFS䜷BEVSBOUFTVDBSHBZ EFUFOHBPSFEV[DBFMBNQFSBKFEF DBSHB TJ MBT D䜳MVMBT EF MB CBUFS䜷B FNQJF[BO B CVSCVKFBS EF GPSNB WJPMFOUB P TJ MB UFNQFSBUVSB EFM FMFDUSPMJUPEFDVBMRVJFSBEFMBTD䜳a MVMBTTVQFSBMPT䛺$ 䳜 -MFWF VOB QSPUFDDJ䜽O QBSB MPT PKPT DVBOEPWBZBBDPNQSPCBSMBCBUFa S䜷BEVSBOUFMBDBSHB 䳜 %FTDPOFDUFFMDBSHBEPSEFMBCBUFa S䜷BFOFMTJHVJFOUFPSEFO QBHVF FM JOUFSSVQUPS QSJODJQBM EFMDBSHBEPSEFMBCBUFS䜷B %FTFOHBODIF MB QJO[B OFHBUJWB EFM UFSNJOBM OFHBUJWP EF MB CBa UFS䜷B %FTFOHBODIF MB QJO[B QPTJUJWB EFMUFSNJOBMQPTJUJWPEFMBCBUFa S䜷B .BOUFOJNJFOUP
- 424. %735/$* 䳜 OUFTEFSFBMJ[BSFMNBOUFOJNJFOUP PSFDBSHBSMBCBUFS䜷B EFTBDUJWFUPa EPTMPTBDDFTPSJPTZQBSFFMNPUPS 䳜MDBCMFOFHBUJWPEFMBCBUFS䜷BEFa CF RVJUBSTF TJFNQSF FM QSJNFSP Z NPOUBSTFFM䝄MUJNPBMEFTDPOFDUBS MBCBUFS䜷B 䳜 4FSFDPNJFOEBRVFVOUBMMFSQSPGFa TJPOBMMMFWFBDBCPMBTPQFSBDJPOFT SFMBDJPOBEBTDPOMBCBUFS䜷B,JBSFa DPNJFOEBWJTJUBSVODFOUSPEFTFSa WJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ 䳜 MFKFMBCBUFS䜷BEFDVBMRVJFSBHVBP M䜷RVJEP 䳜 1BSBTVTFHVSJEBE VUJMJDFQJF[BTEF SFDBNCJPQSPDFEFOUFTEFVOUBMMFS QSPGFTJPOBM,JBSFDPNJFOEBWJTJUBS VODFOUSPEFTFSWJDJPEJTUSJCVJEPS ,JBBVUPSJ[BEP MFNFOUPTBSFBKVTUBS TUPTFMFNFOUPTEFCFOSFBKVTUBSTFVOB WF[ RVF TF IBZB EFTDBSHBEP P EFTDPa OFDUBEPMBCBUFS䜷B 䳜 CFSUVSBDJFSSF BVUPN䜫UJDP EF MBT WFOUBOJMMBT 䳜 5FDIPTPMBS 䳜 0SEFOBEPSEFWJBKF 䳜 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPS 䳜 4JTUFNBEFBVEJP .BOUFOJNJFOUP
- 425. / /6.䜋5*$04:36%4 $VJEBEPEFMPTOFVN䜫UJDPT 1BSB VO NBOUFOJNJFOUPDPSSFDUP Z TFa HVSPZQBSBVOBIPSSPN䜫YJNPEFDPNa CVTUJCMF EFCF NBOUFOFS TJFNQSF MB QSFTJ䜽O SFDPNFOEBEB EF JOGMBEP EF MPT OFVN䜫UJDPTZDVNQMJSMPTM䜷NJUFTEFDBSa HB Z EJTUSJCVDJ䜽O EFM QFTP SFDPNFOEBa EPTQBSBTVWFI䜷DVMP 1SFTJ䜽OSFDPNFOEBEBEFJOGMBEP EFMPTOFVN䜫UJDPTFOGS䜷P %FCFDPNQSPCBSTFMBTQSFTJPOFTEFMPT OFVN䜫UJDPT JODMVJEP FM EF SFQVFTUP NJFOUSBT MPT OFVN䜫UJDPT FTU䜫O GS䜷PT 䳖/FVN䜫UJDPTGS䜷PT䳗TJHOJGJDBRVFFMWFI䜷a DVMPOPTFIBDPOEVDJEPEVSBOUFBMNFa OPTUSFTIPSBTPTFIBDPOEVDJEPNFOPT EF LN -BT QSFTJPOFT SFDPNFOEBEBT TF EFCFO NBOUFOFS QBSB VOB NFKPS DPOEVDDJ䜽O QBSBVONFKPSNBOFKPEFMWFI䜷DVMPZVO NFOPSEFTHBTUFEFMPTOFVN䜫UJDPT 1BSB PCUFOFS JOGPSNBDJ䜽O BDFSDB EF MB QSFTJ䜽O EF JOGMBEP SFDPNFOEBEB DPOa TVMUF䳖/FVN䜫UJDPTZSVFEBT䳗FOMBQ䜫HJa OB 1VFEF FODPOUSBS UPEBT MBT FTQFDJGJDBa DJPOFT UBNB䜻PTZQSFTJPOFT FOMBFUJa RVFUBDPMPDBEBFOTVWFI䜷DVMP %735/$* 1SFTJ䜽OCBKBEFMPTOFVN䜫UJDPT 6O JOGMBEP JOTVGJDJFOUF L1B P N䜫T QVFEF QSPWPDBS TPCSFDBMFOUBa NJFOUP SFWFOUPOFT TFQBSBDJ䜽OEFMB CBOEBEFSPEBEVSBZPUSPTGBMMPTEFM OFVN䜫UJDPRVFIBS䜷BOQFSEFSFMDPOa USPM TPCSF FM WFI䜷DVMP Z QPS UBOUP DBVTBS MFTJPOFT HSBWFT P MB NVFSUF MSJFTHPFTNVDIPNBZPSFOE䜷BTEF $POUJO䝄B $POUJO䝄B DBMPS P DVBOEP TF DPOEVDF EVSBOUF NVDIPUJFNQPBWFMPDJEBEFTBMUBT 5/$*䜝/ 䳜 6OJOGMBEPFTDBTPUBNCJ䜳OQSPWPDB VO EFTHBTUF FYDFTJWP VO NBOFKP QPCSF Z SFEVDF FM BIPSSP EF DPNa CVTUJCMF -B SVFEB UBNCJ䜳O TF QPa ES䜷BEFGPSNBS.BOUFOHBMBQSFTJ䜽O EF MPT OFVN䜫UJDPT B OJWFMFT BEFa DVBEPT4JFTOFDFTBSJPIJODIBSVO OFVN䜫UJDP DPO GSFDVFODJB TPMJDJUF MBDPNQSPCBDJ䜽OEFMTJTUFNBFOVO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP 䳜 6OJOGMBEPFOFYDFTPGPNFOUBVOB DPOEVDDJ䜽O QFMJHSPTB VO EFTHBTUF FYDFTJWP FO FM DFOUSP EF MB CBOEB EFSPEBEVSBZBVNFOUBMBQPTJCJMJa EBEEFQFMJHSPFOMBDBSSFUFSB .BOUFOJNJFOUP
- 426. 5/$*䜝/ 䳜 MDBMFOUBNJFOUPEFMBTSVFEBTIBa DFRVFMBQSFTJ䜽OEFMOFVN䜫UJDPFO GS䜷PFYDFEBEFBL1B/PMJa CFSFBJSFEFMPTOFVN䜫UJDPTDBMJFOa UFT QBSBBKVTUBS MB QSFTJ䜽O P MPT OFVN䜫UJDPTFTUBS䜫OQPDPJOGMBEPT 䳜 TFH䝄SFTF EF WPMWFS B DPMPDBS MPT UBQPOFT EF MB W䜫MWVMB EF JOGMBEP 4JOFMUBQ䜽OEFMBW䜫MWVMBQPES䜷BJOa USPEVDJSTFTVDJFEBEZIVNFEBEFO FM O䝄DMFP EF MB W䜫MWVMB Z QSPEVDJS GVHBTEFBJSF4JIBQFSEJEPFMUBa Q䜽O JOTUBMFVOPOVFWPMPBOUFTQPa TJCMF %735/$* *OGMBEPEFMPTOFVN䜫UJDPT *OGMBSQPDPPFOFYDFTPMPTOFVN䜫UJa DPTQVFEFBDPSUBSTVWJEB䝄UJM BGFDa UBSEFGPSNBOFHBUJWBFMNBOFKPEFM WFI䜷DVMP Z DBVTBS VO GBMMP SFQFOUJOP FO MPT OFVN䜫UJDPT TUP QPES䜷B DBVa TBSMBQ䜳SEJEBEFDPOUSPMEFMWFI䜷DVMP ZQPUFODJBSFMSJFTHPEFMFTJPOFT 5/$*䜝/ 1SFTJ䜽OEFMPTOFVN䜫UJDPT 0CTFSWFTJFNQSFMPTJHVJFOUF 䳜 $PNQSVFCF MB QSFTJ䜽O EF MPT OFVa N䜫UJDPT DVBOEP FTU䜳O GS䜷PT %FTa QV䜳TEFRVFFMWFI䜷DVMPIBZBFTUBa EP FTUBDJPOBEP EVSBOUF BM NFOPT USFTIPSBTPOPTFIBZBDPOEVDJEP N䜫TEF LNEFTEFFMBSSBORVF 䳜 $PNQSVFCFMBQSFTJ䜽OEFMOFVN䜫UJa DPEFSFQVFTUPDBEBWF[RVFDPNa QSVFCFMBQSFTJ䜽OEFMPTPUSPTOFVa N䜫UJDPT 䳜 /VODB TPCSFDBSHVF TV WFI䜷DVMP 5FOHB DVJEBEP EF OP TPCSFDBSHBS MB CBDB QPSUBFRVJQBKFT TJ TV WFI䜷a DVMPFTU䜫FRVJQBEPDPOVOB 䳜 -PTOFVN䜫UJDPTWJFKPTZEFTHBTUBa EPTQVFEFODBVTBSBDDJEFOUFT4JMB CBOEBEFSPEBEVSBFTU䜫NVZEFTa HBTUBEB P TJ MPT OFVN䜫UJDPT IBO TVGSJEPBMH䝄OEFTQFSGFDUP D䜫NCJFa MPT $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEF JOGMBEPEFMPTOFVN䜫UJDPT $PNQSVFCF MPT OFVN䜫UJDPT QPS MP NFa OPTVOBWF[BMNFT $PNQSVFCFUBNCJ䜳OMBQSFTJ䜽OEFMOFVa N䜫UJDPEFMBSVFEBEFSFQVFTUP $䜽NPDPNQSPCBS 6UJMJDF VO JOEJDBEPS EF CVFOB DBMJEBE QBSB DPNQSPCBS MB QSFTJ䜽O EF MPT OFVa N䜫UJDPT/PQVFEFTBCFSTJTVTOFVN䜫a UJDPT FTU䜫 DPSSFDUBNFOUF JOGMBEPT T䜽MP NJS䜫OEPMPT -PT OFVN䜫UJDPT SBEJBMFT QVFEFO QBSFDFS RVF FTU䜫O DPSSFDUBa NFOUF JOGMBEPT DVBOEP FTU䜫O EFTJOGMBa EPT $PNQSVFCFMBQSFTJ䜽OEFJOGMBEPEFMPT OFVN䜫UJDPTDVBOEPMPTOFVN䜫UJDPTFTa U䜳OGS䜷PT'S䜷PTJHOJGJDBRVFFMWFI䜷a DVMP IB FTUBEP QBSBEP EVSBOUF BM NFa OPT IPSBT P RVF OP TF IB DPOEVDJEP N䜫TEF LN %FTNPOUF FM UBQ䜽O EF MB W䜫MWVMB EFM W䜫TUBHP EF MB W䜫MWVMB EFM OFVN䜫UJDP 1SFTJPOFFMJOEJDBEPSGJSNFNFOUFFOMB W䜫MWVMB QBSB PCUFOFS MB NFEJDJ䜽O EF MB QSFTJ䜽O4JMBQSFTJ䜽OEFJOGMBEPEFMOFVa N䜫UJDPGS䜷PDPJODJEFDPOMBQSFTJ䜽OSFDPa NFOEBEB FO FM OFVN䜫UJDP Z FO MB FUJa RVFUB EF JOGPSNBDJ䜽O EF MB DBSHB OP TPO OFDFTBSJPT N䜫T BKVTUFT 4J MB QSFa TJ䜽OFTCBKB B䜻BEBBJSFIBTUBRVFTFBMa DBODFMBDBOUJEBESFDPNFOEBEB .BOUFOJNJFOUP
- 427. 4JMMFOBFOFYDFTPFMOFVN䜫UJDP TVFMUF BJSFQVMTBOEPFMW䜫TUBHPNFU䜫MJDPFOFM DFOUSP EFMB W䜫MWVMB EFM OFVN䜫UJDP 7VFMWBBDPNQSPCBSMBQSFTJ䜽OEFMOFVa N䜫UJDP DPO FM JOEJDBEPS EFM OFVN䜫UJDP TFH䝄SFTFEFWPMWFSBDPMPDBSMPTUBQPa OFT EF MBT W䜫MWVMBT FO MPT W䜫TUBHPT EF MBT W䜫MWVMBT TUB BZVEB FWJUB GVHBT BM JNQFEJSMBFOUSBEBEFTVDJFEBEZIVNFa EBE %735/$* 䳜 3FWJTF TVT OFVN䜫UJDPT EF GPSNB GSFDVFOUFQBSBVOJOGMBEPDPSSFDUP BTVWF[DPNQSVFCFFMEFTHBTUFZ MPT EB䜻PT 6UJMJDF TJFNQSF VO JOEJa DBEPSEFQSFTJ䜽OQBSBOFVN䜫UJDPT $POUJO䝄B $POUJO䝄B 䳜 -PT OFVN䜫UJDPT DPO EFNBTJBEP P QPDP EFTHBTUF EFTJHVBM QVFEFO DBVTBSVOBNBMNBOFKP MBQ䜳SEJEB EF DPOUSPM EFM WFI䜷DVMP Z VO GBMMP SFQFOUJOP EFM OFVN䜫UJDP MP RVF QVFEF QSPWPDBS BDDJEFOUFT MFTJPa OFTFJODMVTPMBNVFSUF-BQSFTJ䜽O EF MPT OFVN䜫UJDPT FO GS䜷P SFDPa NFOEBEB QBSB TV WFI䜷DVMP TF FOa DVFOUSBFOFTUFNBOVBMZFOMBFUJa RVFUBEFMOFVN䜫UJDPVCJDBEBFOMB DPMVNOBDFOUSBMFOFMMBEPEFMDPOa EVDUPS 䳜 -PT OFVN䜫UJDPT EFTHBTUBEPT QVFa EFODBVTBSBDDJEFOUFT$BNCJFMPT OFVN䜫UJDPT RVF FTU䜫O HBTUBEPT EFTHBTUBEPT EF GPSNB EFTJHVBM P EB䜻BEPT 䳜 3FDVFSEF RVF EFCF DPNQSPCBS MB QSFTJ䜽O EF MB SVFEB EF SFQVFTUP ,JB SFDPNJFOEB RVF DPNQSVFCF MB SVFEB EF SFQVFTUP DBEB WF[ RVF DPNQSVFCFMBQSFTJ䜽OEFMPTPUSPT OFVN䜫UJDPTEFTVWFI䜷DVMP 3PUBDJ䜽OEFMPTOFVN䜫UJDPT 1BSBJHVBMBSFMEFTHBTUF TFSFDPNJFOEB RVF MPT OFVN䜫UJDPT TF SPUFO DBEB LN P BOUFT TJ TF QSPEVDF VO EFTHBTUFJSSFHVMBS %VSBOUF MB SPUBDJ䜽O DPNQSVFCF TJ MPT OFVN䜫UJDPTFTU䜫OCJFOFRVJMJCSBEPT MSPUBSMPTOFVN䜫UJDPT DPNQSVFCFTJFM EFTHBTUFZMPTEB䜻PTTPOJSSFHVMBSFTM EFTHBTUF BO䜽NBMP FT QSPWPDBEP OPSa NBMNFOUF QPS VOB QSFTJ䜽O JODPSSFDUB EFMPTOFVN䜫UJDPT VOBBMJOFBDJ䜽OJODPa SSFDUB EF MBT SVFEBT SVFEBT EFTFRVJMJa CSBEBT GSFOBEBT Z UPNBT EF DVSWBT CSVTDBT $PNQSVFCF TJ IBZ CBDIFT P BCPNCBNJFOUPFOMBCBOEBEFSPEBEVSB PFOFMMBUFSBMEFMOFVN䜫UJDP$BNCJFFM OFVN䜫UJDPTJFODVFOUSBBMHVOBEFFTUBT DPOEJDJPOFT $BNCJF FM OFVN䜫UJDP TJ TF WFOMBTFTUSVDUVSBTPMBTDVFSEBT%FTa QV䜳TEFMBSPUBDJ䜽O BTFH䝄SFTFEFJOGMBS MPTOFVN䜫UJDPTEFMBOUFSPTZUSBTFSPTB MB QSFTJ䜽O FTQFDJGJDBEB Z DPNQSPCBS FM BQSJFUFEFMBUVFSDBEFMUBDP $POTVMUF 䳖/FVN䜫UJDPT Z SVFEBT䳗 FO MB Q䜫HJOB .BOUFOJNJFOUP
- 428. 4F EFCF DPNQSPCBSFM EFTHBTUF EF MBT QBTUJMMBTEFMGSFOPEFEJTDPTJFNQSFRVF TFSPUFOMPTOFVN䜫UJDPT / /05 $BNCJFT䜽MPMPTOFVN䜫UJDPTSBEJBMFT DPO QBUS䜽O EF SPEBEVSB BTJN䜳USJDP EF MB QBSUF EFMBOUFSB B MB USBTFSB QFSPOPEFEFSFDIBBJ[RVJFSEB %735/$* 䳜 /PVUJMJDFSVFEBTEFSFQVFTUPDPNa QBDUBT TJ FTU䜫 FRVJQBEP QBSB MB SPUBDJ䜽OEFMPTOFVN䜫UJDPT 䳜 /PNF[DMFOFVN䜫UJDPTEFDVCJFSUB EJBHPOBM DPO OFVN䜫UJDPT SBEJBMFT CBKP OJOHVOB DJSDVOTUBODJB TUP QPES䜷BPDBTJPOBSDBSBDUFS䜷TUJDBTEF NBOFKPJOVTVBMFTRVFQPES䜷BODBVa TBS MFTJPOFT HSBWFT MB NVFSUF P EB䜻PTNBUFSJBMFT MJOFBNJFOUPEFMBTSVFEBTZ FRVJMJCSJPEFMPTOFVN䜫UJDPT -BT SVFEBT EFM WFI䜷DVMP TF BMJOFBSPO Z FRVJMJCSBSPO DPO QSFDJTJ䜽O FO MB G䜫CSJDB QBSBQSPMPOHBSMBWJEBEFMOFVN䜫UJDPZ NFKPSBSTVSFOEJNJFOUP O MB NBZPS䜷B EF DBTPT OP OFDFTJUBS䜫 BMJOFBSMBTSVFEBTPUSBWF[/PPCTUBOa UF TJ OPUB VO EFTHBTUF JOVTVBM EF MPT OFVN䜫UJDPT P FM WFI䜷DVMP UJSB IBDJB VO MBEP TFS䜫OFDFTBSJPSFBKVTUBSMBBMJOFBa DJ䜽O 4JOPUBRVFFMWFI䜷DVMPWJCSBTPCSFQBWJa NFOUP FO CVFO FTUBEP TFS䜫 OFDFTBSJP FRVJMJCSBSMBTSVFEBT 5/$*䜝/ M QFTP JOBQSPQJBEP EF MBT SVFEBT QVFEFPDBTJPOBSEB䜻PTBMBQBSUFEF BMVNJOJP EF MBT SVFEBT 6UJMJDF TPMP QFTPTEFMBTSVFEBTBQSPCBEPT .BOUFOJNJFOUP
- 429. $ $BNCJPEFMPTOFVN䜫UJDPT 4J FM OFVN䜫UJDPFTU䜫 EFTHBTUBEP EF NBOFSBVOJGPSNF FMJOEJDBEPSEFMEFTa HBTUFEFMBCBOEBEFSPEBEVSB BQBa SFDFS䜫DPNPVOBCBOEBT䜽MJEBBMPMBSHP EF MB CBOEB EF SPEBEVSB TUP JOEJDB RVFRVFEBVOBCBOEBEFSPEBEVSBFOFM OFVN䜫UJDPJOGFSJPSB NN3FFNQMBa DFFMOFVN䜫UJDPDVBOEPFTUPPDVSSB /PFTQFSFBWFSRVFMBCBOEBBUSBWJFTF UPEB MB SPEBEVSB BOUFT EF DBNCJBS FM OFVN䜫UJDP /05 3FDPNFOEBNPT RVF BM DBNCJBS MPT OFVN䜫UJDPT VTF FM NJTNP UBNB䜻P RVF MPT OFVN䜫UJDPT PSJHJOBMFT TVNJa OJTUSBEPTDPOFMWFI䜷DVMP O DBTP DPOUSBSJP QPES䜷B BGFDUBS BM SFOEJNJFOUPEFDPOEVDDJ䜽O 5/$*䜝/ MDBNCJBSMPTOFVN䜫UJDPT WFSJGJRVF ZBQSJFUFEFOVFWPMBTUVFSDBTEFMBT SVFEBT EFTQV䜳T EF DPOEVDJS VOPT LNZWFSJGJRVFEFOVFWPEFTQV䜳T EFDPOEVDJSVOPTLN4JFMWPa MBOUF P FM WFI䜷DVMP WJCSB BM DPOEVDJS TJHOJGJDB RVF MBT SVFEBT OP FTU䜫O FRVJMJCSBEBT RVJMJCSF MBT SVFEBT 4J FMQSPCMFNBOPTFIBSFTVFMUP Q䜽Oa HBTFFODPOUBDUPDPOVOUBMMFSQSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP %735/$* $BNCJPEFMPTOFVN䜫UJDPT 1BSB SFEVDJS MBT QPTJCJMJEBEFT EF MFa TJPOFTHSBWFTPNPSUBMFTEFVOBDDJa EFOUF QSPWPDBEP QPS VO GBMMP EF VO OFVN䜫UJDPPMBQ䜳SEJEBEFDPOUSPMEFM WFI䜷DVMP 䳜 $BNCJF MPT OFVN䜫UJDPT RVF FTU䜫O HBTUBEPT EFTHBTUBEPT EF GPSNB EFTJHVBM P EB䜻BEPT -PT OFVN䜫UJa DPTQVFEFOQSPWPDBSQ䜳SEJEBEFMB FGFDUJWJEBEEFGSFOBEB EFMDPOUSPM EFHJSPPEFUSBDDJ䜽O 䳜 /PDPOEV[DBFMWFI䜷DVMPDPOEFNBa TJBEB P DPO QPDB QSFTJ䜽O FO MPT OFVN䜫UJDPT TUP QVFEF QSPWPDBS VOEFTHBTUFEFTJHVBMZVOGBMMPFO MPTOFVN䜫UJDPT 䳜 MDBNCJBSMPTOFVN䜫UJDPTOPNF[a DMFOFVN䜫UJDPTSBEJBMFTNJYUPTDPO OFVN䜫UJDPT EJBHPOBMFT FO FM NJTa NPDPDIF%FCFDBNCJBSUPEPTMPT OFVN䜫UJDPT JODMVJEPFMEFSFQVFTa UP TJDBNCJBEFOFVN䜫UJDPTSBEJBa MFTBEJBHPOBMFT $POUJO䝄B .BOUFOJNJFOUP
- 430. $POUJO䝄B 䳜 -P NFKPSFT DBNCJBS MPT DVBUSP OFVN䜫UJDPTBMNJTNPUJFNQP4JOP FT QPTJCMF P OFDFTBSJP DBNCJF MPT EPT OFVN䜫UJDPT EFMBOUFSPT P MPT EPTOFVN䜫UJDPTUSBTFSPTBMBQBS $BNCJBSVOOFVN䜫UJDP䝄OJDBNFOUF QVFEF BGFDUBS HSBWFNFOUF B MB NBOJPCSBCJMJEBEEFMWFI䜷DVMP 䳜 6UJMJ[BSOFVN䜫UJDPTZSVFEBTEJGFa SFOUFT B MBT SFDPNFOEBEBT QVFEF QSPWPDBS VOBT DBSBDUFS䜷TUJDBT EF FNQMFPJOVTVBMFTZVONBMDPOUSPM EFMWFI䜷DVMP MPRVFQPES䜷BQSPWPDBS VOBDDJEFOUFHSBWF 䳜 -BTSVFEBTRVFOPDPODVFSEFODPO MBTFTQFDJGJDBDJPOFTEF,JBQVFEFO OP BKVTUBSTF BEFDVBEBNFOUF Z QSPWPDBS EB䜻PT BM WFI䜷DVMP P VO NBOFKP JOVTVBM Z VO NBM DPOUSPM EFMWFI䜷DVMP $POUJO䝄B $POUJO䝄B 䳜 M#4TFQPOFFOGVODJPOBNJFOUP BM DPNQBSBS MB WFMPDJEBE EF MBT SVFEBT M UBNB䜻P EFM OFVN䜫UJDP BGFDUBBMBWFMPDJEBEEFMBSVFEBM DBNCJBSMPTOFVN䜫UJDPT MPTOFVa N䜫UJDPT EFCFO TFS EFM NJTNP UBa NB䜻P RVF MPT OFVN䜫UJDPT PSJHJOBa MFTEFMWFI䜷DVMP4JVUJMJ[BOFVN䜫UJa DPT EF EJGFSFOUFT UBNB䜻PT QVFEF QSPWPDBSRVFOJFM#4 TJTUFNBEF GSFOP BOUJCMPRVFP OJ FM 4$ DPOa USPMEFFTUBCJMJEBEFMFDUS䜽OJDP GVOa DJPOFODPSSFDUBNFOUF $BNCJPEFMOFVN䜫UJDPEFSFQVFTUP DPNQBDUP TJFTU䜫FRVJQBEP -B WJEB 䝄UJM EFM OFVN䜫UJDP EF SFQVFTUP DPNQBDUPFTNFOPSRVFMBEFVOOFVa N䜫UJDP OPSNBM 3FFNQM䜫DFMP DVBOEP WFBMBTCBSSBTEFMJOEJDBEPSEFEFTHBTUF EFMBCBOEBEFSPEBEVSBFOFMOFVN䜫UJa DP M OVFWP OFVN䜫UJDP EF SFQVFTUP DPNQBDUPEFCFS䜫TFSEFMNJTNPUBNBa 䜻PZEJTF䜻PRVFFMTVNJOJTUSBEPDPOFM WFI䜷DVMP OVFWP Z EFCFS䜫 NPOUBSTF TPa CSF MB NJTNB SVFEB EF SFQVFTUP DPNa QBDUB M OFVN䜫UJDP EF SFQVFTUP DPNa QBDUPOPFTU䜫EJTF䜻BEPQBSBNPOUBSTF TPCSFVOBSVFEBEFUBNB䜻POPSNBMZFM OFVN䜫UJDP EF SFQVFTUP DPNQBDUP OP FTU䜫 EJTF䜻BEP QBSB FM NPOUBKF FO VO OFVN䜫UJDPEFUBNB䜻PSFHVMBS $BNCJPEFMBTSVFEBT $VBOEPDBNCJFMBTSVFEBTEFNFUBMQPS DVBMRVJFS NPUJWP BTFH䝄SFTF RVF MBT SVFEBTOVFWBTTPOJHVBMFTBMBTPSJHJOBa MFTFOEJ䜫NFUSP BODIPEFMBMMBOUBZEFa DBMBKF .BOUFOJNJFOUP
- 431. %735/$* 6OB SVFEB RVFOP UFOHB FM UBNB䜻P DPSSFDUP QVFEF BGFDUBS OFHBUJWBa NFOUFBMBWJEB䝄UJMEFMBSVFEBZMPT DPKJOFUFT MBT DBSBDUFS䜷TUJDBT EF GSFa OBEPZQBSBEB MBTDBSBDUFS䜷TUJDBTEF NBOFKP MB IPMHVSB DPO FM TVFMP MB IPMHVSBFOUSFMBDBSSPDFS䜷BZFMOFVa N䜫UJDP MBIPMHVSBEFMBTDBEFOBTQBa SB MB OJFWF MB DBMJCSBDJ䜽O EFM WFMPD䜷a NFUSP Z EFM DVFOUBLJM䜽NFUSPT MB PSJFOUBDJ䜽O EF MPT GBSPT Z MB BMUVSB EFMQBSBDIPRVFT 5SBDDJ䜽OEFMOFVN䜫UJDP -BUSBDDJ䜽OEFMOFVN䜫UJDPQVFEFEJTNJa OVJSTJMPTOFVN䜫UJDPTFTU䜫OEFTHBTUBa EPT JOGMBEPTJOBEFDVBEBNFOUFPTJDPOa EVDF TPCSF TVQFSGJDJFT EFTMJ[BOUFT $VBOEP BQBSF[DB FM JOEJDBEPS EF EFTa HBTUF EF MB CBOEB EF SPEBEVSB EFCFO DBNCJBSTF MPT OFVN䜫UJDPT 3FEV[DB MB WFMPDJEBE DVBOEP IBZB MMVWJB OJFWF P IJFMPFOMBDBSSFUFSBQBSBMJNJUBSMBQPa TJCJMJEBEEFQFSEFSFMDPOUSPMEFMWFI䜷DVa MP .BOUFOJNJFOUPEFMOFVN䜫UJDP 6O JOGMBEP BQSPQJBEP Z VOB BMJOFBDJ䜽O DPSSFDUBEFMBTSVFEBTBZVEBOBSFEVDJS FM EFTHBTUF EF MPT OFVN䜫UJDPT 4J PCa TFSWBRVFVOOFVN䜫UJDPTFIBEFTHBTa UBEP EF GPSNB JSSFHVMBS TPMJDJUF MB BMJa OFBDJ䜽OEFMBTSVFEBTFOVOUBMMFSQSPa GFTJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJa [BEP TFH䝄SFTF EF FRVJMJCSBS MBT SVFEBT BM DBNCJBSMBTQPSVOBTOVFWBT4FNFKPSBa S䜫MBDPOEVDDJ䜽OZTFQSPMPOHBS䜫MBWJEB 䝄UJMEFMPTOFVN䜫UJDPTEFN䜫T FTDPOa WFOJFOUF SFFRVJMJCSBS VO OFVN䜫UJDP DVBOEPTFFYUSBFEFMBSVFEB UJRVFUBFOMBQBSFEEFM OFVN䜫UJDP TUB JOGPSNBDJ䜽O JEFOUJGJDB Z EFTDSJCF MBT DBSBDUFS䜷TUJDBT GVOEBNFOUBMFT EFM OFVN䜫UJDPZQSPQPSDJPOBTVO䝄NFSPEF JEFOUJGJDBDJ䜽O 5*/ QBSBDFSUJGJDBSFMFTa U䜫OEBS EF TFHVSJEBE M 5*/ TF QVFEF VTBS QBSB JEFOUJGJDBS FM OFVN䜫UJDP FO DBTPEFSFUJSBEB /PNCSFEFMGBCSJDBOUFPEFMB NBSDB 4FNVFTUSBFMOPNCSFEFMGBCSJDBOUFP EFMBNBSDB .BOUFOJNJFOUP
- 432. %FTJHOBDJ䜽OEFMUBNB䜻PEFMPT OFVN䜫UJDPT -B QBSFE EFMOFVN䜫UJDP FTU䜫 NBSDBEB DPOVOBEFTJHOBDJ䜽OEFTVUBNB䜻P/Fa DFTJUBS䜫 FTUB JOGPSNBDJ䜽O DVBOEP SFFNQMBDF MPT OFVN䜫UJDPT DPOUJOVBa DJ䜽O TF FYQMJDB FM TJHOJGJDBEP EF MBT MFa USBTZMPTO䝄NFSPTFOMBEFTJHOBDJ䜽OEFM UBNB䜻PEFMPTOFVN䜫UJDPT KFNQMPEFEFTJHOBDJ䜽OEFMUBNB䜻PEFM OFVN䜫UJDP TUPTO䝄NFSPTTPOTPMPVOFKFNQMPMB EFTJHOBDJ䜽O EFM UBNB䜻P EFM OFVN䜫UJDP WBSJBS䜫TFH䝄OFMWFI䜷DVMP 135 1 5JQPEFWFI䜷DVMPBQMJDBCMF MPT OFVN䜫UJDPTNBSDBEPTDPOFM QSFGJKP1FTU䜫OEJTF䜻BEPT QBSBFMVTPFOUVSJTNPTZFO DBNJPOFTMJHFSPTTJOFNCBSHP OPUPEPTMPTOFVN䜫UJDPTUJFa OFOFTUBNBSDB ODIPEFMOFVN䜫UJDPFONJM䜷a NFUSPT $PDJFOUFFOUSFBMUVSBZBODIP TFDDJPOBM-BBMUVSBTFDDJPOBM EFMOFVN䜫UJDPDPNPQPSDFOUBa KFEFTVBODIP 3 $䜽EJHPEFDPOTUSVDDJ䜽OEFM OFVN䜫UJDP SBEJBM %J䜫NFUSPEFMBMMBOUBFOQVMa HBEBT 䜗OEJDFEFDBSHBD䜽EJHPOVN䜳a SJDPBTPDJBEPDPOMBDBSHBN䜫a YJNBRVFQVFEFMMFWBSFMOFVa N䜫UJDP 5 4䜷NCPMPEFMBWFMPDJEBEOPNJa OBM1BSBN䜫TJOGPSNBDJ䜽O W䜳BTFFMHS䜫GJDPEFWFMPDJEBE OPNJOBMFOFTUFBQBSUBEP %FTJHOBDJ䜽OEFMUBNB䜻PEFMBSVFEB -BT SVFEBT UBNCJ䜳O FTU䜫O NBSDBEBT DPOJOGPSNBDJ䜽OJNQPSUBOUFRVFOFDFTJa UBS䜫 TJ BMHVOB WF[ EFCF DBNCJBSMBT DPOUJOVBDJ䜽O TFFYQMJDBFMTJHOJGJDBEPEF MBTMFUSBTZMPTO䝄NFSPTFOMBEFTJHOBa DJ䜽OEFMUBNB䜻PEFMBSVFEB KFNQMP EF EFTJHOBDJ䜽O EFM UBNB䜻P EF MBSVFEB +9 ODIPEFMBMMBOUBFOQVMHBEBT + %FTJHOBDJ䜽OEFMDPOUPSOPEFMB MMBOUB %J䜫NFUSPEFMBMMBOUBFOQVMHBa EBT 7FMPDJEBEOPNJOBMEFMOFVN䜫UJDP -B UBCMB EF BCBKP NVFTUSB NVDIBT EF MBT EJGFSFOUFT WFMPDJEBEFT OPNJOBMFT BDUVBMNFOUF FO VTP QBSB MPT UVSJTNPT -BWFMPDJEBEOPNJOBMFTQBSUFEFMBEFa TJHOBDJ䜽OEFMUBNB䜻PEFMOFVN䜫UJDPFO MB QBSFE EFM OFVN䜫UJDP TUF T䜷NCPMP DPSSFTQPOEF B MB N䜫YJNB WFMPDJEBE EF GVODJPOBNJFOUP EF TFHVSJEBE QBSB MB RVFGVFEJTF䜻BEBFMOFVN䜫UJDP 4䜷NCPMPEF MBWFMPDJa EBEOPNJa OBM 7FMPDJEBEN䜫YJNB 4 LNI 5 LNI ) LNI 7 LNI 8 LNI : LNI .BOUFOJNJFOUP
- 433. $PNQSPCBDJ䜽OEFMBWJEB䝄UJMEFM OFVN䜫UJDP 5*/O䝄NFSPEF JEFOUJGJDBDJ䜽OEFMOFVN䜫UJDP 5PEPTBRVFMMPTOFVN䜫UJDPTEFN䜫TEF B䜻PTSFTQFDUPBMBGFDIBEFGBCSJDBDJ䜽O JODMVZFOEP FMOFVN䜫UJDP EF SFQVFTUP EFCFS䜷BO DBNCJBSTF QPS PUSPT OVFWPT 1VFEFFODPOUSBSMBGFDIBEFGBCSJDBDJ䜽O FOMBQBSFEEFMOFVN䜫UJDP TFHVSBNFOa UFFOFMJOUFSJPSEFMBSVFEB DPOFMD䜽EJa HP%05MD䜽EJHP%05FTVOBTFSJFEF O䝄NFSPT Z MFUSBT FO FM OFVN䜫UJDP -B GFDIB EF GBCSJDBDJ䜽O TPO MPT 䝄MUJNPT E䜷HJUPT DBSBDUFSFT EFMD䜽EJHP%05 %05999999990000 -BQBSUFEFMBOUFSBEFM%05JOEJDBFMO䝄a NFSPEFD䜽EJHPEFMBQMBOUB FMUBNB䜻P EFM OFVN䜫UJDP Z FM QBUS䜽O EF MB CBOEB EFSPEBEVSB ZMBTDVBUSP䝄MUJNBTDJGSBT JOEJDBO MB TFNBOB Z FM B䜻P EF GBCSJDBa DJ䜽O 1PSFKFNQMP %05 9999 9999 SFQSFTFOUB RVF FMOFVN䜫UJDPTFGBCSJD䜽MB䛴TFNBOB EF %735/$* EBEEFMPTOFVN䜫UJDPT -PT OFVN䜫UJDPT TF EFHSBEBO DPO FM UJFNQP JODMVTPBVORVFOPTFVUJMJDFO *OEFQFOEJFOUFNFOUF EF MB CBOEB EF SPEBEVSB SFTUBOUF ,JB SFDPNJFOEB DBNCJBSMBTSVFEBTBQSPYJNBEBNFOa UFUSBTTFJT B䜻PTEFVTPOPSNBM MDBMPSQSPWPDBEPQPSMPTDMJNBTDBa MVSPTPT P GSFDVFOUFT DBSHBT BMUBT QVFEFBDFMFSBSFMQSPDFTPEFFOWFKFa DJNJFOUP4JOPTJHVFFTUBBEWFSUFOa DJB QVFEF QSPWPDBS VO GBMMP FO MPT OFVN䜫UJDPT MP RVF QVFEF QSPWPDBS VOBQ䜳SEJEBEFDPOUSPMZVOBDDJEFOa UFRVFQVFEFQSPWPDBSMFTJPOFTHSBa WFTPMBNVFSUF .BUFSJBMZDPNQPTJDJ䜽OEFMB DVCJFSUBEFMOFVN䜫UJDP OFMOFVN䜫UJDP IBZVOO䝄NFSPEFDBa QBTPDVCJFSUBTEFHPNB-PTGBCSJDBOa UFT EF OFVN䜫UJDPT EFCFO JOEJDBS MPT NBUFSJBMFTEFMOFVN䜫UJDPBDFSP OZMPO QPMJ䜳TUFS Z PUSPT -B MFUSB 3 TJHOJGJDB DPOTUSVDDJ䜽OEFMBDVCJFSUBSBEJBMMBMFa USB% DPOTUSVDDJ䜽OEFMBDVCJFSUBEJBa HPOBM Z MB MFUSB # TJHOJGJDB DPOTUSVDa DJ䜽OEFDVFSEBTFOEJBHPOBM 1SFTJ䜽ON䜫YJNBEFJOGMBEP QFSNJTJCMF TUF O䝄NFSP FT MB NBZPS DBOUJEBE EF QSFTJ䜽OEFBJSFRVFTFEFCFS䜷BJOUSPEVa DJS FO FM OFVN䜫UJDP /P FYDFEB MB QSFa TJ䜽ON䜫YJNBEFJOGMBEPQFSNJTJCMF$POa TVMUFMBQSFTJ䜽OEFJOGMBEPSFDPNFOEBEB FO MB FUJRVFUB *OGPSNBDJ䜽O EF DBSHB Z OFVN䜫UJDP $BSHBOPNJOBMN䜫YJNB TUFO䝄NFSPJOEJDBFOLHZMJCSBTMBDBSa HBN䜫YJNBRVFQVFEFTPQPSUBSVOOFVa N䜫UJDP4JDBNCJBMPTOFVN䜫UJDPT VUJMJDF TJFNQSF VO OFVN䜫UJDP DPO MB NJTNB DBSHBOPNJOBMRVFFMOFVN䜫UJDPPSJHJOBM EFG䜫CSJDB (SBEPEFDBMJEBEVOJGPSNFEFM OFVN䜫UJDP -PT HSBEPT EF DBMJEBE TF QVFEFO DPOa TVMUBSFOMBQBSFEEFMOFVN䜫UJDP FOUSF MB CBOEB EF SPEBEVSB Z FM BODIP EF MB TFDDJ䜽ON䜫YJNB 1PSFKFNQMP %4(45 % - #/% % 30%%6a 3 53$$*䜝/ 5.13563 .BOUFOJNJFOUP
- 434. % %FTHBTUFEFMBCBOEBEFSPEBEVSB MHSBEPEFEFTHBTUFEFMBCBOEBEFSPa EBEVSB FT VOBDPNQBSBUJWB CBTBEB FO FM 䜷OEJDF EF EFTHBTUF EFM OFVN䜫UJDP BM QSPCBSMPFOQJTUBTEFQSVFCBTFTQFD䜷GJa DBTFTUBUBMFT1PSFKFNQMP VOOFVN䜫UJa DPDPOMBDMBTJGJDBDJ䜽OTFEFTHBTUBa S䜫FOVOBQJTUBEFQSVFCBTFTUBUBM䜇 WFDFTNFOPTEFMPRVFTFEFTHBTUBVOP DPOMBDMBTJGJDBDJ䜽O MSFOEJNJFOUPSFMBUJWPEFMPTOFVN䜫UJa DPTEFQFOEFEFMBTDPOEJDJPOFTBDUVBMFT EF TV VTP OP PCTUBOUF QVFEFO WBSJBS FOHSBOQBSUFEFMBOPSNBEFCJEPBWBa SJBDJPOFT FO MPT I䜫CJUPT EF DPOEVDDJ䜽O QS䜫DUJDBT EF NBOUFOJNJFOUP Z EJGFSFOa DJBTFOMBTDBSBDUFS䜷TUJDBTEFMBDBSSFUFa SBPDBSBDUFS䜷TUJDBTDMJN䜫UJDBT TUBTDMBTJGJDBDJPOFTFTU䜫OHSBCBEBTFO MBTQBSFEFTEFMPTOFVN䜫UJDPTEFMWFI䜷a DVMP EF QBTBKFSPT -PT OFVN䜫UJDPT EJTa QPOJCMFTDPNPFTU䜫OEBSPFRVJQBNJFOUP PQDJPOBMEFMWFI䜷DVMPQVFEFOWBSJBSDPO SFTQFDUPBMBDMBTJGJDBDJ䜽O 5SBDDJ䜽O #Z$ -B DMBTJGJDBDJ䜽O EF MBT USBDDJPOFT EF MB N䜫TBMUBBMBN䜫TCBKB TPO #Z$ TUBTDMBTJGJDBDJPOFTSFQSFTFOUBOMBIBa CJMJEBEEFMOFVN䜫UJDPQBSBGSFOBSTPCSF QBWJNFOUP NPKBEP Z IBO TJEP NFEJEBT CBKP DPOEJDJPOFT DPOUSPMBEBT QPS SFHVa MBDJPOFTFTUBUBMFTEFTVQFSGJDJFTEFBTa GBMUPZDFNFOUP6OOFVN䜫UJDPNBSDBa EPDPO$QVFEFUFOFSVOBUSBDDJ䜽OEFGJa DJFOUF 5FNQFSBUVSB #Z$ -BDMBTJGJDBDJ䜽OEFUFNQFSBUVSBFT MB N䜫T BMUB # Z $ SFQSFTFOUBO MB SFTJTa UFODJBEFMOFVN䜫UJDPBMBHFOFSBDJ䜽OEF DBMPSZTVIBCJMJEBEQBSBEJTJQBSMBDVBOa EPTFQSVFCBCBKPDPOEJDJPOFTDPOUSPMBa EBTFOMBCPSBUPSJPTJOUFSJPSFTFODBSHBa EPTEFDPNQSPCBSMBTSVFEBT 6OBUFNQFSBUVSBBMUBTPTUFOJEBQVFEF EFHFOFSBS FM NBUFSJBM EFM OFVN䜫UJDP Z SFEVDJSTVWJEB䝄UJM ZVOFYDFTPEFUFNa QFSBUVSBQVFEFDBVTBSFMGBMMPEFMOFVa N䜫UJDP EF GPSNB SFQFOUJOB Z # SFa QSFTFOUBOMPTOJWFMFTN䜫TBMUPTEFSFOa EJNJFOUPFOMPTMBCPSBUPSJPTRVFFMOJWFM N䜷OJNPSFRVFSJEPQPSMBMFZ %735/$* -PT 䜷OEJDFT EF USBDDJ䜽O BTJHOBEPT B MPT OFVN䜫UJDPT FTU䜫O CBTBEPT FO QSVFCBTEFUSBDDJ䜽OEFGSFOBEPFOM䜷a OFBSFDUBZOPJODMVZFODBSBDUFS䜷TUJa DBT EF BDFMFSBDJ䜽O DVSWBT BRVBQMBa OJOHPUSBDDJ䜽ON䜫YJNB %735/$* 5FNQFSBUVSBEFMOFVN䜫UJDP -BDMBTJGJDBDJ䜽OEFUFNQFSBUVSBQBSB FTUFOFVN䜫UJDPTFFTUBCMFDFQBSBVO OFVN䜫UJDPRVFFTU䜳EFCJEBNFOUFJOa GMBEPZTJOTPCSFDBSHB6OBWFMPDJEBE FYDFTJWB VO JOGMBEP JOTVGJDJFOUF P VOB DBSHB FYDFTJWB QPS TFQBSBEP P DPNCJOBEBT QVFEF QSPWPDBS FM DBa MFOUBNJFOUP Z FM GBMMP CSVTDP EFM OFVN䜫UJDP TUP DBVTBS䜷B MB Q䜳SEJEB EF DPOUSPM EFM WFI䜷DVMP Z MFTJPOFT HSBWFTPMBNVFSUF .BOUFOJNJFOUP
- 435. / /FVN䜫UJDPEFDPDJFOUFBMUVSB BODIPTFDDJPOBMCBKP TJFTU䜫 FRVJQBEP 4FIBONPOUBEPOFVN䜫UJDPTEFDPDJFOa UFBMUVSBBODIPTFDDJPOBMCBKPJOGFSJPSB QBSBPGSFDFSVOBTQFDUPEFQPSUJWP %BEP RVFMPT OFVN䜫UJDPT EF DPDJFOUF BMUVSBBODIPTFDDJPOBMCBKPFTU䜫OPQUJa NJ[BEPT QBSB FM NBOFKP Z FM GSFOBEP QPES䜷BOTFSN䜫TJOD䜽NPEPTQBSBMBDPOa EVDDJ䜽O Z HFOFSBS N䜫T SVJEP RVF MPT OFVN䜫UJDPTOPSNBMFT 5/$*䜝/ %BEPRVFMBQBSFEMBUFSBMEFMOFVN䜫a UJDPEFDPDJFOUFBMUVSBBODIPTFDDJPa OBMCBKPFTN䜫TDPSUBEFMPOPSNBM MB SVFEBZFMOFVN䜫UJDPEFDPDJFOUFBMa UVSBBODIP TFDDJPOBM CBKP QVFEFO EB䜻BSTF DPO NBZPS GBDJMJEBE 1PS FMMP TJHBMBTJOTUSVDDJPOFTBCBKPJOEJa DBEBT 䳜 MDPOEVDJSQPSVOBDBM[BEBFONBM FTUBEP P GVFSB EF W䜷BT DPOEV[DB DPO DVJEBEP QBSB FWJUBS EB䜻BS MBT SVFEBT Z MPT OFVN䜫UJDPT 5SBT MB DPOEVDDJ䜽O SFWJTFMBTSVFEBTZMPT OFVN䜫UJDPT $POUJO䝄B $POUJO䝄B 䳜 M QBTBS QPS VO CBDIF VO CBE䜳O VOBBMDBOUBSJMMBPVOCPSEJMMP DPOa EV[DB EFTQBDJP QBSB FWJUBS EB䜻PT FOMBTSVFEBTZMPTOFVN䜫UJDPT 䳜 4J FM OFVN䜫UJDP TVGSF VO JNQBDUP JOTQFDDJPOFFMFTUBEPEFMOFVN䜫UJa DP P Q䜽OHBTF FO DPOUBDUP DPO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB WJTJUBSVODFOUSPEFTFSWJDJPEJTa USJCVJEPS,JBBVUPSJ[BEP 䳜 1BSBFWJUBSEB䜻PTFOMPTOFVN䜫UJa DPT SFWJTF FM FTUBEP Z MB QSFTJ䜽O EFMPTNJTNPTDBEBLN 5/$*䜝/ 䳜 /P FT G䜫DJM EFUFDUBS EB䜻PT FO MPT OFVN䜫UJDPTBTJNQMFWJTUB1FSPTJ EFUFDUB FM NFOPS TJHOP EF QPTJCMF EB䜻P BVORVFOPQVFEBWFSOJOH䝄O EB䜻PFOFMOFVN䜫UJDPBTJNQMFWJTa UB IBHB SFWJTBS FM OFVN䜫UJDP P D䜫NCJFMP ZBRVFFMEB䜻PFOFMOFVa N䜫UJDP QPES䜷B DBVTBS GVHB EF BJSF FOFMNJTNP $POUJO䝄B $POUJO䝄B 䳜 4JFMOFVN䜫UJDPTFEB䜻BBMDPOEVDJS QPS VOB DBM[BEB FO NBM FTUBEP GVFSBEFW䜷B QPSVOCBDIF VOBBMa DBOUBSJMMB P VO CPSEJMMP FTUF OP RVFEBDVCJFSUPQPSMBHBSBOU䜷B 䳜 ODPOUSBS䜫 MB JOGPSNBDJ䜽O EF MPT OFVN䜫UJDPT FO MB QBSFE MBUFSBM EF MPTNJTNPT .BOUFOJNJFOUP
- 436. ' '64*#-4 䙓 -BEPJ[RVJFSEPOPSNBM -BEPEFSFDIPGVOEJEP MTJTUFNBFM䜳DUSJDPEFVOWFI䜷DVMPFTU䜫 QSPUFHJEP DPOUSBEB䜻PT EF TPCSFDBSHB FM䜳DUSJDBNFEJBOUFGVTJCMFT TUF WFI䜷DVMP UJFOF P QBOFMFT EF GVTJCMFT VOPVCJDBEPFOFMSFGVFS[PEFM QBOFMMBUFSBMEFMDPOEVDUPS FMPUSPFOFM DPNQBSUJNFOUP EFM NPUPS DFSDB EF MB CBUFS䜷B 4JDVBMRVJFSMV[EFMWFI䜷DVMP BDDFTPSJPP DPOUSPMOPGVODJPOB DPNQSVFCFFMGVTJa CMFEFMDJSDVJUPBQSPQJBEP4JTFIBGVOa EJEP VO GVTJCMF TF IBCS䜫 EFSSFUJEP MB QJF[BRVFTFFODVFOUSBFOTVJOUFSJPS 4J FM TJTUFNB FM䜳DUSJDP OP GVODJPOB DPNQSVFCFQSJNFSPFMQBOFMEFGVTJCMFT EFMMBEPEFMDPOEVDUPS OUFT EF DBNCJBS VO GVTJCMF GVOEJEP EFTDPOFDUFFMDBCMFOFHBUJWPEFMBCBUFa S䜷B 3FFNQMBDF TJFNQSF VO GVTJCMF GVOEJEP QPSVOPEFMNJTNPBNQFSBKF 4J FM GVTJCMF RVF BDBCB EF DBNCJBS TF WVFMWFBGVOEJS RVJFSFEFDJSRVFFYJTUF VO QSPCMFNB FM䜳DUSJDP WJUF VUJMJ[BS FM TJTUFNBRVFUJFOFFMQSPCMFNBZDPOTVMa UF JONFEJBUBNFOUF FO VO UBMMFS QSPGFa TJPOBM ,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP 4FVUJMJ[BOUSFTUJQPTEFGVTJCMFTEFQBa MBQBSBQFRVF䜻BTJOUFOTJEBEFT EFDBSa UVDIPZNVMUJGVTJCMFTQBSBJOUFOTJEBEFT NBZPSFT %735/$* $BNCJPEFMGVTJCMF 䳜 /VODB SFFNQMBDF VO GVTJCMF QPS PUSPRVFOPUFOHBMBNJTNBQPUFOa DJB 䳜 6ONBZPSWPMUBKFEFMGVTJCMFQVFEF QSPWPDBS EB䜻PT Z DSFBS SJFTHP EF GVFHPT 䳜 /PNPOUFOVODBVODBCMFOJQBQFM EF BMVNJOJP FO WF[ EFM GVTJCMF DPa SSFTQPOEJFOUF JODMVTP DPNP SFQBa SBDJ䜽OUFNQPSBM1VFEFDBVTBSEBa 䜻PTJNQPSUBOUFTFOFMDBCMFZQSPa WPDBSVOJODFOEJP 䳜 /P NPEJGJRVF P B䜻BEB BSCJUSBSJBa NFOUFFMDBCMFBEPFM䜳DUSJDPEFMWFa I䜷DVMP .BOUFOJNJFOUP
- 437. 5/$*䜝/ /P VUJMJDF VOEFTUPSOJMMBEPS P DVBMa RVJFS PUSP PCKFUP EF NFUBM QBSB FYa USBFSGVTJCMFT ZBRVFQPES䜷BDSFBSVO DPSUPDJSDVJUPPEB䜻BSFMTJTUFNB /05 䳜 M TVTUJUVJS FM GVTJCMF DPMPRVF FM FODFOEJEPFO0''ZEFTBDUJWFMPT JOUFSSVQUPSFTEFUPEPTMPTEJTQPTJa UJWPT FM䜳DUSJDPT Z B DPOUJOVBDJ䜽O FYUSBJHBFMUFSNJOBM EFMBCBUFa S䜷B 䳜 -BFUJRVFUBEFMQBOFMEFSFM䜳TZGVa TJCMFTSFBMQVFEFEJGFSJSEFMPTFMFa NFOUPTFRVJQBEPT 5/$*䜝/ 䳜 MDBNCJBSVOGVTJCMFPVOSFM䜳GVOa EJEP QPS VOP OVFWP BTFH䝄SFTF EF RVF FM GVTJCMF P FM SFM䜳 OVFWP TF BKVTUF B MPT DMJQT 6O GVTJCMF P VO SFM䜳 NBM BKVTUBEP QPES䜷B DBVTBS EB䜻PTFOFMDBCMFBEPZFMTJTUFNB FM䜳DUSJDPEFMWFI䜷DVMPZQSPWPDBSVO JODFOEJP 䳜 /PSFUJSFGVTJCMFT SFM䜳TOJUFSNJOBa MFT GJKBEPT DPO QFSOPT P UVFSDBT -PTGVTJCMFT SFM䜳TZUFSNJOBMFTQPa ES䜷BOFTUBSNBMBKVTUBEPTZQSPWPa DBS VO JODFOEJP 4J TF GVOEF BMH䝄O GVTJCMF SFM䜳 P UFSNJOBM GJKBEP DPO QFSOPT P UVFSDBT DPOTVMUF FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP 䳜 /PJOUSPEV[DBPCKFUPTEJTUJOUPTEF GVTJCMFT P SFM䜳T FO MPT UFSNJOBMFT QBSB GVTJCMFTSFM䜳T DPNP VO EFTa UPSOJMMBEPS P DBCMFT 1PES䜷B DBVTBS VO GBMMP EF DPOUBDUP Z VOB BWFS䜷B EFMTJTUFNB $POUJO䝄B $POUJO䝄B 䳜 /P DPOFDUF EFTUPSOJMMBEPSFT P DBa CMFBEP VTBEP FO FM UFSNJOBM EJTFa 䜻BEPPSJHJOBMNFOUFTPMPQBSBGVTJa CMFTZSFM䜳TMTJTUFNBZDBCMFBEP FM䜳DUSJDP EFM JOUFSJPS EFM WFI䜷DVMP QVFEFSFTVMUBSEB䜻BEPPRVFNBSTF EFCJEPBVOGBMMPEFDPOUBDUP 䳜 4JDPOFDUBEJSFDUBNFOUFFMDBCMFBM QJMPUPUSBTFSPPTVTUJUVZFMBCPNa CJMMBRVFTVQFSBMBDBQBDJEBESFHVa MBEBQBSBJOTUBMBSSFNPMRVFT FUD FMCMPRVFEFFNQBMNFTJOUFSJPSTF QVFEFRVFNBS 5/$*䜝/ *OTQFDDJPOFWJTVBMNFOUFFMUBQ䜽OEF MB CBUFS䜷B QBSB HBSBOUJ[BS RVF FTU䜫 CJFODFSSBEP4JFMUBQ䜽OEFMBCBUFS䜷B OP FTU䜫 CJFO DFSSBEP MB IVNFEBE QPES䜷BQFOFUSBSFOFMTJTUFNBZEBa 䜻BSMPTDPNQPOFOUFTFM䜳DUSJDPT .BOUFOJNJFOUP
- 438. / /05 $BCMFBEPBMFBUPSJPQSPIJCJEPBM SFUSPBEBQUBSFMFRVJQP -B VUJMJ[BDJ䜽OEF DBCMFBEP BMFBUPSJP FOFMWFI䜷DVMPQPES䜷BDBVTBSVOSJFTa HP EFCJEP B BWFS䜷BT Z GBMMPT FO FM SFOEJNJFOUPEFMWFI䜷DVMP -BVUJMJ[BDJ䜽OEFDBCMFTBMFBUPSJPT FO QBSUJDVMBS BMSFUSPBEBQUBSFM7/PFM TJTUFNBEFBMBSNBBOUJSSPCP FMDPOa USPMBEJTUBODJBEFMNPUPS FMUFM䜳GPOP EFMWFI䜷DVMPPMBSBEJPQPES䜷BEB䜻BSFM WFI䜷DVMPPQSPWPDBSVOJODFOEJP /05 3FNPEFMBDJ䜽OQSPIJCJEB /PJOUFOUFSFNPEFMBSFMWFI䜷DVMP4F DPOTJEFSB JMFHBM Z QPES䜷B BGFDUBS BM SFOEJNJFOUP MBEVSBCJMJEBEZMBTFHVa SJEBE EFM WFI䜷DVMP -B HBSBOU䜷B UBNa QPDP DVCSF MPT QSPCMFNBT DBVTBEPT QPSMBSFNPEFMBDJ䜽O 5FOHB FO DVFOUB MPT QSPCMFNBT EF TFHVSJEBEDBVTBEPTQPSMBSFNPEFMBa $POUJO䝄B $POUJO䝄B DJ䜽O EFM WFI䜷DVMP DPO EJTQPTJUJWPT FM䜳DUSJDPTOPBVUPSJ[BEPT MVDFT DBKB OFHSB FRVJQP FM䜳DUSJDP EJTQPTJUJWP EFEJBHO䜽TUJDP EJTQPTJUJWPEFDPNVa OJDBDJ䜽O FUD 1PES䜷B QSPWPDBS VOB BWFS䜷B EFM WFI䜷DVMP EB䜻PT FO FM DBa CMFBEP MBEFTDBSHBEFMBCBUFS䜷B EBa 䜻PTFOFMDPOFDUPS VOJODFOEJPFOFM WFI䜷DVMPPVOJODFOEJP /05 1SFDBVDJ䜽OBMUJOUBSMBTWFOUBa OJMMBT MUJOUBEPEFMBTWFOUBOJMMBT DPOVOB QFM䜷DVMB NFU䜫MJDB FO QBSUJDVMBS QPa ES䜷BQSPWPDBSVOEFTPSEFOFOMBTDPa NVOJDBDJPOFT P VOB SFDFQDJ䜽O EF MB SBEJPJOTVGJDJFOUF BT䜷DPNPVOBBWFa S䜷BEFMTJTUFNBEFJMVNJOBDJ䜽OBVUPa N䜫UJDP B DBVTB EFM DBNCJP FYDFTJWP EFJMVNJOBDJ䜽OFOFMJOUFSJPSEFMWFI䜷a DVMP -B TPMVDJ䜽O VUJMJ[BEB UBNCJ䜳O QPES䜷B QFOFUSBS FO MPT EJTQPTJUJWPT $POUJO䝄B $POUJO䝄B FM䜳DUSJDPT Z FMFDUS䜽OJDPT MP RVF QPa ES䜷B QSPWPDBS VO EFTPSEFO Z VOB BWFS䜷B $BNCJPEFGVTJCMFTFOFMQBOFM JOUFSJPS QBHVFFMJOUFSSVQUPSEFFODFOEJEP ZUPEPTMPTPUSPTJOUFSSVQUPSFT CSB MB DVCJFSUB EFM QBOFM EF GVTJa CMFT .BOUFOJNJFOUP
- 439. 5JSF EFM GVTJCMFBWFSJBEP 6UJMJDF MB IFSSBNJFOUBEFEFTNPOUBKFRVFTF FODVFOUSB FO MB DBKB EF GVTJCMFT QSJODJQBM EFM DPNQBSUJNFOUP EFM NPUPS $PNQSVFCF MPT GVTJCMFT RVF IB FYa USB䜷EP3FFNQMBDFMPTGVOEJEPT -PTGVTJCMFTEFSFDBNCJPFTU䜫ODPa MPDBEPT FO FM QBOFM EF GVTJCMFT EFM QBOFMEFJOTUSVNFOUPT PFOFMQBa OFM EF GVTJCMFT EFM DPNQBSUJNFOUP EFMNPUPS *OUSPEV[DB FM OVFWP GVTJCMF EF MB NJTNB QPUFODJB Z BTFH䝄SFTF RVF FODBKBQFSGFDUBNFOUFFOMPTDMJQT 4JRVFEBGMPKP DPOTVMUFFOVOUBMMFSQSPa GFTJPOBM ,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP 4JOPUJFOFGVTJCMFTEFSFQVFTUP VUJMJDF VOGVTJCMFEFMBNJTNBQPUFODJBEFMDJSa DVJUPRVFOPWBZBBOFDFTJUBSQBSBDPOa EVDJS FM WFI䜷DVMP DPNP FM GVTJCMF EFM NFDIFSP 4JMPTGBSPT MPTQJMPUPTUSBTFSPT MBTMVa DFTEFGSFOP MBTMVDFTEFDPSUFT䜷BPMBT MVDFT EF DPOEVDDJ䜽O EJVSOB %3- OP GVODJPOBOZMPTGVTJCMFTFTU䜫OFOCVFO FTUBEP DPNQSVFCFFMQBOFMEFGVTJCMFT FOFMDPNQBSUJNFOUPNPUPS4JVOGVTJa CMFFTU䜫GVOEJEP D䜫NCJFMP ' 'VTJCMFEFNFNPSJB 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOGVTJa CMFEFNFNPSJBQBSBJNQFEJSMBEFTDBSa HBEFMBCBUFS䜷BDVBOEPBQBSDBFMWFI䜷a DVMP USBT IBCFS DPOEVDJEP EVSBOUF VO QFS䜷PEPEFUJFNQPMBSHP4JHBMPTQSPDFa EJNJFOUPT TJHVJFOUFT BOUFT EF BQBSDBS FMWFI䜷DVMPEVSBOUFVOUJFNQPMBSHP QBHVFFMNPUPS QBHVFMPTGBSPTEFMBOUFSPTZUSBa TFSPT CSB MB UBQB EFM QBOFM EFM MBEP EFM DPOEVDUPSZUJSFEFMGVTJCMFEFNFa NPSJB .BOUFOJNJFOUP
- 440. / /05 䳜 4JUJSBEFMGVTJCMFEFNFNPSJBEFTa EF FMQBOFM EF GVTJCMFT MB TF䜻BM BD䝄TUJDBEFBEWFSUFODJB FMTJTUFNB EFBVEJP FMSFMPK MBTMVDFTJOUFSJPa SFT FUD OPGVODJPOBS䜫O3FBKVTUF BMHVOPT FMFNFOUPT EFTQV䜳T EF DBNCJBSMPT $POTVMUF 䳖#BUFS䜷B䳗 FO MBQ䜫HJOB 䳜 VORVF UJSF EFM GVTJCMF EF NFNPa SJB MBCBUFS䜷BQVFEFEFTDBSHBSTFTJ TFFODJFOEFOMPTGBSPTVPUSPTEJTa QPTJUJWPTFM䜳DUSJDPT $BNCJPEFMGVTJCMFEFM DPNQBSUJNFOUPEFMNPUPS QBHVFFMJOUFSSVQUPSEFFODFOEJEP ZUPEPTMPTPUSPTJOUFSSVQUPSFT 3FUJSFMBDVCJFSUBEFMQBOFMEFGVTJa CMFTQVMTBOEPMBMFOH䝆FUBZUJSBOEP IBDJBBSSJCB$POFMGVTJCMFUJQPQMBa OPEFTDPOFDUBEP SFU䜷SFMPVUJMJ[BOEP FM DMJQ EJTF䜻BEP QBSB DBNCJBS GVTJa CMFT TJUVBEP FO MB DBKB EF GVTJCMFT EFMDPNQBSUJNJFOUPEFMNPUPS5SBT SFUJSBSMP JOTFSUF EF GPSNB TFHVSB VOGVTJCMFJOWFSTPEFJHVBMDBOUJEBE $PNQSVFCF MPT GVTJCMFT RVF IB FYa USB䜷EP3FFNQMBDFMPTGVOEJEPT1Ba SBFYUSBFSPJOTFSUBSVOGVTJCMF VUJa MJDFFMRVJUBGVTJCMFTRVFTFFODVFOa USBFOFMQBOFMEFGVTJCMFTEFMDPNa QBSUJNFOUPEFMNPUPS *OUSPEV[DB FM OVFWP GVTJCMF EF MB NJTNB QPUFODJB Z BTFH䝄SFTF RVF FODBKB QFSGFDUBNFOUF FO MPT DMJQT 4JRVFEBGMPKP DPOTVMUFFOVOUBMMFS QSPGFTJPOBM,JBSFDPNJFOEBDPOTVMa UBSFOVODFOUSPEFTFSWJDJPEJTUSJa CVJEPS,JBBVUPSJ[BEP 5/$*䜝/ 5SBT DPNQSPCBS FM QBOFM EF GVTJCMFT FO FM DPNQBSUJNFOUP EFM NPUPS NPOUFMBDVCJFSUBEFMQBOFMEFGVTJa CMFTNFEJBOUFVOTPOJEPEFDMJD ODBTPDPOUSBSJP FMDPOUBDUPDPOFM BHVB QPES䜷B QSPWPDBS GBMMPT FM䜳DUSJa DPT .BOUFOJNJFOUP
- 441. . .VMUJGVTJCMF /05 4J TF GVOEFFM NVMUJGVTJCMF DPOTVMUF FO VO UBMMFS QSPGFTJPOBM ,JB SFDPa NJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP 5/$*䜝/ /PSFUJSFGVTJCMFT SFM䜳TOJUFSNJOBMFT GJKBEPTDPOQFSOPTPUVFSDBT-PTGVa $POUJO䝄B $POUJO䝄B TJCMFT SFM䜳TZUFSNJOBMFTQPES䜷BOFTa UBS NBM BKVTUBEPT Z QSPWPDBS VO JOa DFOEJP4JTFGVOEFBMH䝄OGVTJCMF SFM䜳 PUFSNJOBMGJKBEPDPOQFSOPTPUVFSa DBT DPOTVMUF FO VO UBMMFS QSPGFTJPa OBM ,JB SFDPNJFOEB DPOTVMUBS FO VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP %FTDSJQDJ䜽OEFMQBOFMEF GVTJCMFTSFM䜳T .BOUFOJNJFOUP
- 442. O MB QBSUFJOUFSJPS EF MB DVCJFSUB EFM QBOFM EF GVTJCMFTSFM䜳T FODPOUSBS䜫 MB FUJRVFUBEFMPTGVTJCMFTZSFM䜳TRVFEFTa DSJCF FM OPNCSF Z MB DBQBDJEBE EF MPT NJTNPT / /05 /PUPEBTMBTEFTDSJQDJPOFTEFMQBOFM EFGVTJCMFTEFTDSJUBTFOFTUFNBOVBM TPOW䜫MJEBTQBSBTVWFI䜷DVMP4POBDa UVBMFTFOMBGFDIBEFJNQSFTJ䜽O4JWB B DPNQSPCBS FM QBOFM EF GVTJCMFT DPOTVMUFMBFUJRVFUBEFMQBOFMEFGVa TJCMFT .BOUFOJNJFOUP
- 443.
- 444. 1 1BOFMEFJOTUSVNFOUPT QBOFMEFGVTJa CMFTEFMMBEPEFMDPOEVDUPS 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP 4JTUFNBEFBVEJP VOJEBEQSJODJQBMEFOBWFHBDJ䜽OZW䜷EFPBVEJPDPOWFSUJEPS%$%$CBKP N䜽EVa MPEFMMBNBEBFMFDUS䜽OJDB 5BCMFSPEFJOTUSVNFOUPT #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B 4-. N䜽EVMPEFJMVNJOBDJ䜽O ZEFMDJOUVS䜽OEFTFHVSJEBE N䜽EVMPEFDPOUSPMEFMBJSFBDPOEJDJPOBEP .65 DPNQSPCBDJ䜽OEF MBVOJEBEN䝄MUJQMF MV[EFDPSUFT䜷BEFMDPOEVDUPS MV[EFMNBMFUFSP MV[EFMIBCJU䜫DVMPMV[EF DPOTPMBEFMUFDIP JOUFSSVQUPSEFMSFUSPWJTPSFYUFSJPSFM䜳DUSJDP 1FTUJMMPEFCMPRVFPEFMBQVFSUBEFMDPOEVDUPS SFM䜳EFEFTCMPRVFPEFMBQVFSUBEFMNBMFUFSP SFM䜳EFEFTCMPRVFPCMPRVFPEFMBTQVFSUBT 5PNBEFDPSSJFOUF .䜽EVMPEFMFMFWBMVOBTFM䜳DUSJDPEFTFHVSJEBEEFMDPOEVDUPS 44. N䜽EVMPFMFDUS䜽OJDPEFMBTF䜻BMEFGSFOP N䜽EVMPEFDPOUSPMEFMJOUFSSVQUPSEFBMJNFOUBa DJ䜽OJOUFMJHFOUF #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B JOUFSSVQUPSEFFNFSHFODJB ODFOEFEPS $BMFGBDUPSEFMSFUSPWJTPSFYUFSJPS $. N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPM EFMUSFOEFQPUFODJB N䜽EVMPEFDPOUSPMEFMBJSFBDPOEJDJPOBEP *OUFSSVQUPSQSJODJQBMEFMFMFWBMVOBTFM䜳DUSJDP NPUPSEFMFMFWBMVOBTFM䜳DUSJDPEFMQBTBKFSP .䜽EVMPEFDPOUSPMEFMBTJFOUPEFMDPOEVDUPSQBTBKFSP 3FMFWBEPSEFMBTMVDFTEJVSOBT %3- .BOUFOJNJFOUP
- 445. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP 4JOBDDFTPTJOMMBWF*OUFSSVQUPSEFMFNCSBHVF $.N䜽EVMPEFDPOUSPMEFMNPUPS N䜽EVMPEF DPOUSPMEFMBMMBWFJOUFMJHFOUF CMPRVFEFDPOFYJPOFTEFMDPNQBSUJNFOUPEFMNPUPS SFM䜳EF BSSBORVF DPOBDDFTPTJOMMBWFSFM䜳EFMBBMBSNBBOUJSSPCP -BEPEFMBNBOJKBEFSFDIBEFMPTGBSPT MBEPEFMBNBOJKBEFSFDIBEFMBMV[EFDPNCJOBDJ䜽OUSBa TFSB JMVNJOBDJ䜽O *OUFSSVQUPSEFMBDPOTPMB N䜽EVMPEFMBDPOTPMBEFMBTJFOUPEFMDPOEVDUPSQBTBKFSP 5$4 TJTUFa NBEFSFDBVEBDJ䜽OEFQFBKFTFMFDUS䜽OJDP #MPRVFEFDPOFYJPOFTEFMDPNQBSUJNFOUPEFMNPUPS JOUFSSVQUPSEFMBMV[EFNBSDIBBUS䜫T JOa UFSSVQUPSEFMBMV[EFQBSBEB JOUFSSVQUPSEFMBQSFTJ䜽OEFWBD䜷P TFOTPSEFWFMPDJEBEEFMWFI䜷DVa MP *OUFSSVQUPSQSJODJQBMEFMFMFWBMVOBTFM䜳DUSJDP NPUPSEFMFMFWBMVOBTFM䜳DUSJDPEFMQBTBKFSP -V[BOUJOJFCMBUSBTFSB UBCMFSPEFJOTUSVNFOUPT .VFMMFEFMSFMPK JOUFSSVQUPSEFDPOUSPMSFNPUP -BEPEFMBNBOJKBJ[RVJFSEBEFMPTGBSPT MBEPEFMBNBOJKBJ[RVJFSEBEFMBMV[EFDPNCJOBDJ䜽O USBTFSB #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B JOUFSSVQUPSEFMQBOFMEFQSPUFDDJ䜽O MBEPEFMBNBOJKB J[RVJFSEBMBEPEFMBNBOJKBEFSFDIBEFMBDUVBEPSEFMEJTQPTJUJWPEFOJWFMBDJ䜽OEFMGBSP #4 TJTUFNBEFGSFOPTBOUJCMPRVFP N䜽EVMPEFDPOUSPMEFM4$ DPOUSPMEFFTUBCJMJEBEFMFDUS䜽a OJDP EJBHO䜽TUJDP *OUFSSVQUPSEFMBMV[EFGSFOP N䜽EVMPEFDPOUSPMMMBWFJOUFMJHFOUF .PUPSUFDIPTPMBS .BOUFOJNJFOUP
- 446. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP -V[BOUJOJFCMBEFMBOUFSB UBCMFSPEFJOTUSVNFOUPT .䜽EVMPEFDPOUSPMEFMBJSFBDPOEJDJPOBEP JOUFSSVQUPSEFQSFTJ䜽OEVBM CMPRVFEFDPOFYJPOFTEFM DPNQBSUJNFOUPEFMNPUPS SFM䜳EFMWFOUJMBEPS #MPRVFEFDPOFYJPOFTEFMDPNQBSUJNFOUPEFMNPUPS SFM䜳EFMBTMVDFTEFDSVDF SFM䜳EFMBTMVDFT EFDBSSFUFSB DBMFGBDUPSEFMBCPRVJMMB N䜽EVMPEFDPOUSPMEFMBTJFOUPEFMDPOEVDUPSQBTBKFSP .䜽EVMPEFDPOUSPMEF# GSFOBEBEFFNFSHFODJBBVU䜽OPNB 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB $. N䜽EVMPEFDPOUSPMEFMNPUPS N䜽EVMPEF DPOUSPMEFMBMMBWFJOUFMJHFOUFN䜽EVMPEFMJONPWJMJ[BEPS .䜽EVMPEFMJONPWJMJ[BEPS #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B 4-. N䜽EVMPEFJMVNJOBDJ䜽OZEFMDJOUVS䜽OEFTFHVSJa EBE N䜽EVMPEFDPOUSPMEFMBMMBWFJOUFMJHFOUF *OUFSSVQUPSEFFNFSHFODJB $6 VOJEBEEFDPOUSPMEFMBJSCBH #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B 4-. N䜽EVMPEFJMVNJOBDJ䜽OZEFMDJOUVS䜽OEFTFHVSJa EBE VOJEBEEFSFDPSEBUPSJPEFMDJOUVS䜽OEFTFHVSJEBEUSBTFSP .䜽EVMPEFDPOUSPMEFMBMMBWFJOUFMJHFOUF .䜽EVMPEFDPOUSPMEFMBJSFBDPOEJDJPOBEP NPUPSEFMWFOUJMBEPS *OUFSSVQUPSNVMUJGVODJ䜽O MJNQJBQBSBCSJTBT .BOUFOJNJFOUP
- 447. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP *OUFSSVQUPSNVMUJGVODJ䜽O MJNQJBQBSBCSJTBTNPUPSEFMMJNQJBQBSBCSJTBTEFMBOUFSP #$. N䜽EVMPEFDPOUSPMEFMBDBSSPDFS䜷B 4-. N䜽EVMPEFJMVNJOBDJ䜽OZEFMDJOUVS䜽OEFTFHVSJa EBE N䜽EVMPEFMMBNBEBFMFDUS䜽OJDB.54 TJTUFNBUFMFN䜫UJDP.P[FO TJTUFNBEFBVEJP DPOa WFSUJEPS%$%$CBKP VOJEBEQSJODJQBMEFOBWFHBDJ䜽OZW䜷EFPBVEJP N䜽EVMPEFDPOUSPMEFMBMMBWF JOUFMJHFOUF JOUFSSVQUPSEFMFTQFKPSFUSPWJTPSFYUFSJPSFM䜳DUSJDP 5BCMFSPEFJOTUSVNFOUPT N䜽EVMPEFDPOUSPMEFMBJSFBDPOEJDJPOBEP 5BCMFSPEFJOTUSVNFOUPT 6OJEBE.%14 EJSFDDJ䜽OBTJTUJEBBDDJPOBEBQPSFMNPUPS .BOUFOJNJFOUP
- 448.
- 449. 1 1BOFMEFGVTJCMFTEFMDPNQBSUJNJFOUP EFMNPUPS NPUPS,BQQB --.1* HBTPMJOB 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP TJO*4( DPO*4( 'VTJCMF #4 #4 %4.1䜛%0353430 50.%$033*/5 7/5*-%03 BMUFSOBa EPS .䜽EVMP.%14 EJSFDDJ䜽OBTJTUJEBBDDJPOBEBQPSFMNPUPS #4 TJTUFNBEFGSFOPTBOUJCMPRVFP 4$ DPOUSPMFMFDUS䜽OJDPEFFTUBCJMJEBE DPOFDUPSEFDPOa USPMNVMUJVTPT $POMMBWFJOUFMJHFOUF3FM䜳EFMBDBKB1%. SFM䜳/$ SFM䜳$$ 4JOMMBWFJOUFMJHFOUF*OUFSSVQUPSEFFODFOEJEP #4 TJTUFNBEFGSFOPTBOUJCMPRVFP N䜽EVMPEFDPOUSPMEFM4$ DPOUSPMEFFTUBCJMJEBEFMFDUS䜽a OJDP $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMBTMVDFTUSBTFSBT $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT CMPRVFPEFMBTQVFSUBT FNFSHFODJB 3FM䜳QSJODJQBM $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMEFTFNQB䜻BEPSUSBTFSP $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMBUPNBEFDPSSJFOUF 3FM䜳EFMWFOUJMBEPS #MPRVFEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMFMFWBMVOBTFM䜳DUSJDP CMPRVFEFDPOFa YJPOFTEFMQBOFMEFJOTUSVNFOUPT 'VTJCMF UFDIPTPMBS DBMFGBDUPSEFMBTJFOUP MMBWFJOUFMJHFOUF MMBWFJOUFMJHFOUF JOUFSSVQUPSEFM GSFOP FMFWBMVOBTFM䜳DUSJDPEFTFHVSJEBE .BOUFOJNJFOUP
- 450. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP -BEPEFMBNBOJKBJ[RVJFSEBEFMPTGBSPT UBCMFSPEFJOTUSVNFOUPT -BEPEFMBNBOJKBEFSFDIBEFMPTGBSPT 3FM䜳EFMBTMVDFTEFDBSSFUFSB MBEPEFMBNBOJKBEFSFDIBMBEPEFMBNBOJKBJ[RVJFSEBEFMPTGBa SPT UBCMFSPEFJOTUSVNFOUPT *OUFSSVQUPSNVMUJGVODJ䜽O NPUPSEFMMJNQJBQBSBCSJTBTEFMBOUFSP $. N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB W䜫MWVMBTPMFa OPJEFEFDPOUSPMEFQVSHB .5 W䜫MWVMBEFDPOUSPMEFBDFJUF %.4$ .5 DPNQSFTPS EFMBJSFBDPOEJDJPOBEP 7䜫MWVMBEFQBSBEBEFMFOGSJBNJFOUP TFOTPSEFPY䜷HFOP BSSJCBBCBKP MBEPEFMBNBOJKBEFSFDIB EFMTFOTPSEFMBTSVFEBTEFMBOUFSBT W䜫MWVMBEFDJFSSFEFMD䜫OJTUFS $. N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB JOZFDUPS SFM䜳EFMBCPNCBEFDPNCVTUJCMF W䜫MWVMBTPMFOPJEFEFDPOUSPMEFQVSHB 5 W䜫Ma WVMBEFDPOUSPMEFMBDFJUF */9 5 #PCJOBEFFODFOEJEP CPCJOBEFFODFOEJEP NPUPS -.1* DPOEFOTBEPS NPUPS -.1* *OUFSSVQUPSEFMBMV[EFNBSDIBBUS䜫T MV[EFNBSDIBBUS䜫T 'VTJCMF -5 .%14 # '30*;2 $6 '30$36$ GVTJCMFEFMCMPRVFEFDPOFYJPOFTEFM QBOFMEFJOTUSVNFOUPT MV[BOUJOJFCMBEFMBOUFSB MV[BOUJOJFCMBUSBTFSB TJTUFNBEFBVEJP MV[EFM IBCJU䜫DVMP MV[EFDPOEVDDJ䜽OEJVSOB MV[EFGSFOP 3FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O 3FM䜳EFMBTMVDFTEFDSVDF 3FMFWBEPSEF-VDFTMUBT .BOUFOJNJFOUP
- 451. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP 3FM䜳EFMBCPNCBEFMDPNCVTUJCMF $.N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB 3FMFWBEPSEFM$MBYPO 3FMFWBEPSEFMB#PDJOBEFMBMBSNBOUJSSPCP 3FM䜳EFMBCPNCBEFWBD䜷P 3FM䜳EFMBJSFBDPOEJDJPOBEP 3FM䜳EFBSSBORVF DBKBEFMSFM䜳EF1%. SFM䜳*( JOUFSSVQUPSEFFODFOEJEP 3FM䜳 NPUPS,BQQB - -.1* HBa TPMJOB 4䜷NCPMP /PNCSF3FMFWBEPS 5JQP 3FM䜳QSJODJQBM .*/* 3FM䜳EFMBJSFBDPOEJDJPOBEP .*$30 3FMFWBEPSEFBSSBORVF .*$30$033*/5-5 3FM䜳EFMWFOUJMBEPS .*$30$033*/5-5 3FM䜳EFMDMBYPO .*$30 3FMFWBEPSEFMBCPDJOBEFMBBMBSNBBOa UJSSPCP .*$30 3FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O .*$30$033*/5-5 .BOUFOJNJFOUP
- 452. 4 4䜷NCPMP /PNCSF3FMFWBEPS 5JQP 3FM䜳EFMBCPNCBEFWBD䜷P.*$30 3FM䜳EFMBTMVDFTEFDSVDF .*$30$033*/5-5 3FMFWBEPSEF-VDFTMUBT .*$30 3FM䜳EFMBCPNCBEFMDPNCVTUJCMF .*$30 1BOFMEFGVTJCMFTEFMDPNQBSUJNJFOUP EFMNPUPS NPUPS,BQQB -.1* ''7 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP TJO*4( DPO*4( 'VTJCMF #4 #4 %4.1䜛%0353430 50.%$033*/5 7/5*-%03 BMUFSOBa EPS .䜽EVMP.%14 EJSFDDJ䜽OBTJTUJEBBDDJPOBEBQPSFMNPUPS #4 TJTUFNBEFGSFOPTBOUJCMPRVFP 4$ DPOUSPMFMFDUS䜽OJDPEFFTUBCJMJEBE DPOFDUPSEFDPOa USPMNVMUJVTPT $POMMBWFJOUFMJHFOUF3FM䜳EFMBDBKB1%. SFM䜳/$ SFM䜳$$ 4JOMMBWFJOUFMJHFOUF*OUFSSVQUPSEFFODFOEJEP #4 TJTUFNBEFGSFOPTBOUJCMPRVFP N䜽EVMPEFDPOUSPMEFM4$ DPOUSPMEFFTUBCJMJEBEFMFDUS䜽a OJDP '64*#- #0.#%$0.#645*#-4$6/%3* CMPRVFEFDPOFYJPOFTEFMQBOFMEFJOTUSVa NFOUPT SFM䜳EFMQJMPUPUSBTFSP GVTJCMFEFMCMPRVFEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT CMPRVFPEFQVFSUBT FNFSHFODJB 3FM䜳QSJODJQBM .BOUFOJNJFOUP
- 453. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMEFTFNQB䜻BEPSUSBTFSP $BKBEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMBUPNBEFDPSSJFOUF 3FM䜳EFMWFOUJMBEPS #MPRVFEFDPOFYJPOFTEFMQBOFMEFJOTUSVNFOUPT SFM䜳EFMFMFWBMVOBTFM䜳DUSJDP CMPRVFEFDPOFa YJPOFTEFMQBOFMEFJOTUSVNFOUPT 'VTJCMF UFDIPTPMBS DBMFGBDUPSEFMBTJFOUP MMBWFJOUFMJHFOUF MMBWFJOUFMJHFOUF JOUFSSVQUPSEFM GSFOP FMFWBMVOBTFM䜳DUSJDPEFTFHVSJEBE -BEPEFMBNBOJKBJ[RVJFSEBEFMPTGBSPT UBCMFSPEFJOTUSVNFOUPT -BEPEFMBNBOJKBEFSFDIBEFMPTGBSPT 3FM䜳EFMBTMVDFTEFDBSSFUFSB MBEPEFMBNBOJKBEFSFDIBMBEPEFMBNBOJKBJ[RVJFSEBEFMPTGBa SPT UBCMFSPEFJOTUSVNFOUPT 3FM䜳EFMBCPNCBEFDPNCVTUJCMFTFDVOEBSJB *OUFSSVQUPSNVMUJGVODJ䜽O NPUPSEFMMJNQJBQBSBCSJTBTEFMBOUFSP .5$. N䜽EVMPEFDPOUSPMEFMNPUPS W䜫MWVMBTPMFOPJEFEFDPOUSPMEFQVSHB .5 W䜫MWVMB EFMDPOUSPMEFBDFJUF */ .5 TFOTPSEFPY䜷HFOP BSSJCBBCBKP SFM䜳EFMBJSFBDPOEJDJPOBEP SFa M䜳EFMBCPNCBEFDPNCVTUJCMF TFOTPSEFQPTJDJ䜽OEFM䜫SCPMEFMFWBT */ 53FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB .53FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O 1$. W䜫MWVMBTPMFOPJEFEFDPOUSPMEFQVSHB .5 W䜫MWVMBEFMDPOUSPMEFBDFJUF */ .5 TFOTPSEFPY䜷HFOP BSSJCBBCBKP 53FM䜳EFMBJSFBDPOEJDJPOBEP SFM䜳EFMBCPNCBEFDPNCVTUJCMF TFOTPSEFQPTJDJ䜽OEFM䜫SCPM EFMFWBT */ $. N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB JOZFDUPS SFM䜳EFMBCPNCBEFDPNCVTUJCMFTFDVOEBSJB .BOUFOJNJFOUP
- 454. 4 4䜷NCPMP NQFSBKFEFM GVTJCMF $JSDVJUPQSPUFHJEP #PCJOBEFFODFOEJEP DPOEFOTBEPS *OUFSSVQUPSEFMBMV[EFNBSDIBBUS䜫T MV[EFNBSDIBBUS䜫T 'VTJCMF -5 .%14 # '30*;2 $6 '30$36$ GVTJCMFEFMCMPRVFEFDPOFYJPOFTEFM QBOFMEFJOTUSVNFOUPT MV[BOUJOJFCMBEFMBOUFSB MV[BOUJOJFCMBUSBTFSB TJTUFNBEFBVEJP MV[EFM IBCJU䜫DVMP MV[EFDPOEVDDJ䜽OEJVSOB MV[EFGSFOP 3FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O 3FM䜳EFMBTMVDFTEFDSVDF 3FMFWBEPSEF-VDFTMUBT 3FM䜳EFMBCPNCBEFMDPNCVTUJCMF $. N䜽EVMPEFDPOUSPMEFMNPUPS 1$. N䜽EVMPEFDPOUSPMEFMUSFOEFQPUFODJB 3FMFWBEPSEFM$MBYPO 3FMFWBEPSEFMB#PDJOBEFMBMBSNBOUJSSPCP 3FM䜳EFMBCPNCBEFWBD䜷P 3FM䜳EFMBJSFBDPOEJDJPOBEP 3FM䜳EFBSSBORVF DBKBEFMSFM䜳EF1%. SFM䜳*( JOUFSSVQUPSEFFODFOEJEP 3FM䜳 NPUPS,BQQB -.1* ''7 4䜷NCPMP /PNCSF3FMFWBEPS 5JQP 3FM䜳QSJODJQBM .*/* .BOUFOJNJFOUP
- 455. 4 4䜷NCPMP /PNCSF3FMFWBEPS 5JQP 3FM䜳EFMBJSFBDPOEJDJPOBEP.*$30 3FMFWBEPSEFBSSBORVF .*$30$033*/5-5 3FM䜳EFMWFOUJMBEPS .*$30$033*/5-5 3FM䜳EFMDMBYPO .*$30 3FMFWBEPSEFMBCPDJOBEFMBBMBSNBBOa UJSSPCP .*$30 3FM䜳EFMWFOUJMBEPSEFSFGSJHFSBDJ䜽O .*$30$033*/5-5 3FM䜳EFMBTMVDFTEFDSVDF .*$30$033*/5-5 3FMFWBEPSEF-VDFTMUBT .*$30 3FM䜳EFMBCPNCBEFDPNCVTUJCMFTFa DVOEBSJB .*$30 3FM䜳EFMBCPNCBEFMDPNCVTUJCMF .*$30 .BOUFOJNJFOUP
- 456. # #0.#*--4 1SFDBVDJ䜽OBMDBNCJBSMBT CPNCJMMBT 1SFQBSF MBT CPNCJMMBTDPO MPT FTU䜫OEBa SFT BEFDVBEPT FO DBTP EF FNFSHFODJB $POTVMUF 䳖7BUJPT EF MB CPNCJMMB䳗 FO MB Q䜫HJOB MBIPSBEFDBNCJBSMBTCPNCJMMBT QSJa NFSPBQBHVFFMNPUPSFOVOMVHBSTFa HVSP BQMJRVF GJSNFNFOUF FM GSFOP EF NBOP Z EFTDPOFDUF FM CPSOF OFHBUJWP EFMBCBUFS䜷B %735/$* 0QFSBSDPOMBTMVDFT OUFTEFPQFSBSDPOMBTMVDFT BDDJPa OFDPNQMFUBNFOUFFMGSFOPEFFTUBa DJPOBNJFOUP TFH䝄SFTF EF RVF FM DPOUBDUPFTU䜫FOQPTJDJ䜽O-0$, CMPa RVFP ZBQBHVFMBTMVDFTQBSBJNQFa EJSNPWJNJFOUPTSFQFOUJOPTEFMWFI䜷a DVMP Z RVFNBSTF MPT EFEPT P SFDJCJS VOBEFTDBSHBFM䜳DUSJDB 6UJMJDFTPMPCPNCJMMBTEFWBUJPTFTQFDJGJa DBEPT %735/$* TFH䝄SFTFEFSFFNQMB[BSMBCPNCJMMB GVOEJEB QPS VOB OVFWB EFM NJTNP WPMUBKF O DBTP DPOUSBSJP QVFEF DBVTBS EB䜻PT JNQPSUBOUFT FO FM DBa CMFZQSPWPDBSVOJODFOEJP 5/$*䜝/ 4J OP EJTQPOF EF MBT IFSSBNJFOUBT OFDFTBSJBT MBTCPNCJMMBTDPSSFDUBTZ MB FYQFSJFODJB DPOTVMUF FO VO UBMMFS QSPGFTJPOBM ,JB SFDPNJFOEB DPOTVMa UBSFOVODFOUSPEFTFSWJDJPEJTUSJa CVJEPS,JBBVUPSJ[BEP ONVDIPTDBTPT FTEJG䜷DJMSFFNQMBa [BS CPNCJMMBT QPSRVF FT OFDFTBSJP SFUJSBSPUSBTQJF[BTEFMWFI䜷DVMPQBSB QPEFSFYUSBFSMBCPNCJMMB4PCSFUPEP TJ UJFOF RVF FYUSBFS FM DPOKVOUP EF GBSPT QBSB SFUJSBS MB T CPNCJMMB T %FTNPOUBSNPOUBS FM DPOKVOUP EF GBSPTQVFEFQFSKVEJDBSBMWFI䜷DVMP 5/$*䜝/ 䳜 4J TF VTBO QJF[BT OP PSJHJOBMFT P MVDFT OP FTU䜫OEBS B MB IPSB EF DBNCJBSMBTMVDFT QVFEFEBSMVHBS BMBEFTDPOFYJ䜽OZBWFS䜷BEFMPTGVa TJCMFT ZPUSPTEB䜻PTFOFMDBCMFBa EP 䳜 /P JOTUBMF CPNCJMMBT P -% BEJDJPa OBMFTFOFMWFI䜷DVMP4JTFJOTUBMBO MVDFT BEJDJPOBMFT QVFEF EBS MVHBS BVOBBWFS䜷BZRVFMBTMVDFTQBSQBa EFFOEFN䜫T MBDBKBEFGVTJCMFTZ PUSP DBCMFBEP QVFEF SFTVMUBS EBa 䜻BEPT 䳜 ' 'BMMPEFMBMV[EFCJEPBVOBBWFS䜷BEF SFE M GBSP QJMPUP USBTFSP Z MV[ EF OJFCMB QVFEFOFODFOEFSTFDVBOEPFMJOUFSSVQa UPSEFMPTGBSPTTFDPMPDBFOMBQPTJDJ䜽O 0/ZOPTFFODFOEFS䜫ODVBOEPFMJOUFa SSVQUPSEFMQJMPUPUSBTFSPPEFMBTMVDFT FTU䜫FO0/TUPQVFEFFTUBSQSPEVDJEP QPSVOGBMMPEFSFEPVOBBWFS䜷BEFMTJTa UFNBEFDPOUSPMFM䜳DUSJDPEFMWFI䜷DVMP4J IBZ VO QSPCMFNB TPMJDJUF FM NBOUFOJa NJFOUP EFM TJTUFNB FO VO UBMMFS QSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP .BOUFOJNJFOUP
- 457. 䳜 ' 'BMMPEFMBM䜫NQBSBEFCJEPBMBFTUBCJa MJ[BDJ䜽OEFMTJTUFNBEFDPOUSPMFM䜳DUSJa DP 6OBM䜫NQBSBRVFGVODJPOFOPSNBMNFOa UFQVFEFQBSQBEFBSNPNFOU䜫OFBNFOa UFTUBPDVSSFODJBNPNFOU䜫OFBTFEFa CFBMBGVODJ䜽OEFFTUBCJMJ[BDJ䜽OEFMTJTa UFNBEFDPOUSPMFM䜳DUSJDPEFMWFI䜷DVMP4J MB M䜫NQBSBWVFMWF B TV FTUBEP OPSNBM OPFTOFDFTBSJPSFBMJ[BSOJOH䝄ONBOUFa OJNJFOUPFOFMWFI䜷DVMP 4JOFNCBSHP TJMBMV[TFBQBHBUSBTQBSa QBEFBSEFGPSNBNPNFOU䜫OFBPTJDPOa UJO䝄BQBSQBEFBOEP TPMJDJUFFMNBOUFOJa NJFOUP EFM TJTUFNB FO VO UBMMFS QSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP /05 䳜 4JTFFYUSBFMBCPNCJMMBPFMDPOFDa UPS EF VOB MV[ BDUJWBEB NFEJBOUF FMFDUSJDJEBE FM EJTQPTJUJWP FMFDUS䜽a OJDP EF MB DBKB EF GVTJCMFT QPES䜷B EFUFDUBSMPDPNPVOGBMMPEFGVODJPa OBNJFOUP 1PS UBOUP QPES䜷B HSBa CBSTF VO GBMMP EF GVODJPOBNJFOUP FO FM %5$ D䜽EJHP EF EJBHO䜽TUJDP EFBWFS䜷BT FOMBDBKBEFGVTJCMFT $POUJO䝄B $POUJO䝄B 䳜 T OPSNBM RVF VOB MV[ QBSQBEFF UFNQPSBMNFOUF MMP TF EFCF B MB GVODJ䜽OEFFTUBCJMJ[BDJ䜽OEFMEJTQPa TJUJWPEFDPOUSPMFMFDUS䜽OJDPEFMWFa I䜷DVMP4JMBMV[TFJMVNJOBDPOOPSa NBMJEBE EFTQV䜳T EF QBSQBEFBS UFNQPSBMNFOUF OP FYJTUF OJOH䝄O QSPCMFNB /PPCTUBOUF TJMBMV[TJHVFQBSQBa EFBOEP WBSJBT WFDFT P TF BQBHB QPS DPNQMFUP QPES䜷B IBCFS VO FSSPS FO FM EJTQPTJUJWP EF DPOUSPM FMFDUS䜽OJDP EFM WFI䜷DVMP O FTUF DBTP MMFWF JONFEJBUBNFOUF FM WFa I䜷DVMP B VO UBMMFS QSPGFTJPOBM QBSB RVFMPDPNQSVFCFO,JBSFDPNJFOa EB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP /05 5SBTVOBDDJEFOUFPEFTQV䜳TEFWPMa WFSBDPMPDBSFMDPOKVOUPEFMGBSP TPa MJDJUFRVFMFBKVTUFOMBPSJFOUBDJ䜽OEFM GBSPFOVOUBMMFSQSPGFTJPOBM,JBSFa $POUJO䝄B .BOUFOJNJFOUP
- 458. $POUJO䝄B DPNJFOEBWJTJUBSVODFOUSPEFTFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP /05 %FTQV䜳T EF DPOEVDJSCBKP MMVWJBT JOa UFOTBT P EF MBWBEP QPES䜷B BQBSFDFS WBIP FO MPT DSJTUBMFT EF MPT GBSPT Z EFMPTQJMPUPTUSBTFSPT4FEFCFBMB EJGFSFODJB EF UFNQFSBUVSB FOUSF FM JOUFSJPSZFMFYUFSJPSEFMDSJTUBMTTJa NJMBSBMBDPOEFOTBDJ䜽OQSPEVDJEBFO MBWFOUBOBEFMWFI䜷DVMPEVSBOUFMMVWJB ZOPJOEJDBOJOH䝄OQSPCMFNBEFMWFa I䜷DVMP4JQFOFUSBBHVBFOMPTDJSDVJa UPTEFMBCPNCJMMB VOUBMMFSQSPGFTJPa OBMEFCFSFWJTBSFMWFI䜷DVMP,JBSFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP #PNCJMMBEFMBMV[EFQPTJDJ䜽O EFMBOUFSB 'BSPT DSVDFDBSSFUFSB *OUFSNJUFOUFEFMBOUFSP -V[EFQPTJDJ䜽O -V[EFMJOUFSNJUFOUFEFMBOUFSP UJQP -% -V[EFQPTJDJ䜽O UJQP-% -V[EFDPOEVDDJ䜽OEJVSOB UJQP-% .BOUFOJNJFOUP
- 459. -V[BOUJOJFCMBEFMBOUFSB -V[ EFDPOEVDDJ䜽O EJVSOB UJQP CPNCJMMB # #PNCJMMBEFMBMV[EFQPTJDJ䜽O USBTFSB *OUFSNJUFOUFTUSBTFSPT UJQPCPNCJa MMB -V[USBTFSB UJQP#0.#*-- .BOUFOJNJFOUP
- 460. -V[EFGSFOPZUSBTFSB UJQP#0.#*a -- 1JMPUPUSBTFSPUJQP-% 1JMPUPEFMGSFOPZUSBTFSP UJQP-% -V[EFNBSDIBBUS䜫T UJQPCPNCJMMB -V[BOUJOJFCMBUSBTFSB UJQP#0.#*a -- .BOUFOJNJFOUP
- 461. # #PNCJMMBEFMBMV[EFQPTJDJ䜽O MBUFSBM *OUFSNJUFOUFTMBUFSBMFT UJQP-% *OUFSNJUFOUF SFQFUJEPS MBUFSBM UJQP CPNCJMMB $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBSSFUFSBDSVDF GBSP EFUJQP CSBFMDBQ䜽 3FUJSFMBDVCJFSUBEFMBCPNCJMMBEFM GBSPHJS䜫OEPMBFOTFOUJEPBOUJIPSBa SJP %FTDPOFDUFFMDPOFDUPSEFMBUPNB EFMBCPNCJMMBEFMGBSP %FTFOHBODIFFMDBCMFEFSFU䜳OEFMB CPNCJMMBEFMGBSPQSFTJPOBOEPFMFYa USFNP Z MVFHP FNQVK䜫OEPMP IBDJB BSSJCB YUSBJHBMBCPNCJMMBEFMDPOKVOUPEFM GBSP *OTUBMF MB OVFWB CPNCJMMB Z FOHBOa DIF FM DBCMF EF SFU䜳O FO TV MVHBS BMJOF䜫OEPMP DPO MB SBOVSB EF MB CPNCJMMB $POFDUF FM DPOFDUPS EFM QPSUBM䜫Na QBSBTEFMBCPNCJMMBEFMGBSP .POUFMBDVCJFSUBEFMBCPNCJMMBEFM GBSPHJS䜫OEPMBFOTFOUJEPIPSBSJP #PNCJMMBEFMGBSP .BOUFOJNJFOUP
- 462. %735/$* #PNCJMMBTIBM䜽HFOBT 䳜 -PTIBM䜽HFOPT DPOUJFOFO HBT QSFa TVSJ[BEP RVF QPES䜷BO IBDFS TBMUBS QJF[BTEFDSJTUBMTJTFSPNQFO 䳜 4JFNQSF NBO䜳KFMBT DPO DVJEBEP Z FWJUFBSB䜻B[PTZBCSBTJPOFT4JMBT CPNCJMMBT FTU䜫O FODFOEJEBT FWJUF FMDPOUBDUPDPOM䜷RVJEPT/VODBUPa RVFFMDSJTUBMTJOQSPUFDDJ䜽OFOMBT NBOPT M BDFJUF SFTJEVBM QPES䜷B DBMFOUBS FO FYDFTP MB CPNCJMMB Z IBDFSMBFTUBMMBSDVBOEPTFFODJFOa EB 4䜽MPTFEFCFFODFOEFSDVBOEPFTU䜫 NPOUBEBFOMPTGBSPT 䳜 4J VOB CPNCJMMB FTU䜫 EB䜻BEB P BHSJFUBEB D䜫NCJFMBEFJONFEJBUPZ EFTI䜫HBTFEFFMMBDPODVJEBEP 䳜 -MFWF QSPUFDDJ䜽O PDVMBS DVBOEP DBNCJFVOBCPNCJMMBTQFSFBRVF MB CPNCJMMB TF FOGS䜷F BOUFT EF UPa DBSMB $BNCJPEFMBCPNCJMMBEFMBMV[ EFQPTJDJ䜽O GBSPEFUJQP CSBFMDBQ䜽 YUSBJHB FM QPSUBM䜫NQBSBT EFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM QPSUBM䜫NQBSBT TF BMJOFFO DPO MBT SBOVSBTEFMDPOKVOUP 3FUJSF MB CPNCJMMB EFM QPSUBM䜫NQBa SBTUJSBOEPEFMBNJTNBIBDJBGVFa SB *OTFSUF VOB OVFWB CPNCJMMB FO FM QPSUBM䜫NQBSBT .POUF EF OVFWP FM DBTRVJMMP FO FM DPOKVOUP BMJOFBOEP MBT MFOH䝆FUBT EFM QPSUBM䜫NQBSBT DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫Na QBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEPIPSBSJP $BNCJPEFMBCPNCJMMBEFM JOUFSNJUFOUFEFMBOUFSP GBSPEF UJQP CSBFMDBQ䜽 YUSBJHB FM QPSUBM䜫NQBSBT EFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM QPSUBM䜫NQBSBT TF BMJOFFO DPO MBT SBOVSBTEFMDPOKVOUP .BOUFOJNJFOUP
- 463. YUSBJHB MB CPNCJMMBEFM QPSUBM䜫Na QBSBTQSFTJPO䜫OEPMBZHJS䜫OEPMBFO TFOUJEP BOUJIPSBSJP IBTUB RVF MBT MFOH䝆FUBTEFMBCPNCJMMBTFBMJOFFO DPO MBT SBOVSBT EFM QPSUBM䜫NQBSBT YUSBJHB MB CPNCJMMB EFM QPSUBM䜫Na QBSBT *OTFSUF VOB OVFWB CPNCJMMB FO FM QPSUBM䜫NQBSBT Z H䜷SFMB IBTUB RVF TFCMPRVFFFOTVQPTJDJ䜽ODPSSFDUB .POUF EF OVFWP FM DBTRVJMMP FO FM DPOKVOUP BMJOFBOEP MBT MFOH䝆FUBT EFM QPSUBM䜫NQBSBT DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫Na QBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEPIPSBSJP $ $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBSSFUFSBDSVDF GBSP UJQP# CSBFMDBQ䜽 3FUJSFMBDVCJFSUBEFMBCPNCJMMBEFM GBSPHJS䜫OEPMBFOTFOUJEPBOUJIPSBa SJP %FTDPOFDUFFMDPOFDUPSEFMBUPNB EFMBCPNCJMMBEFMGBSP YUSBJHB FM QPSUBM䜫NQBSBT EFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM QPSUBM䜫NQBSBT TF BMJOFFO DPO MBT SBOVSBTEFMDPOKVOUP .POUF VO OVFWP QPSUBM䜫NQBSBT FO FMDPOKVOUPBMJOFBOEPMBTMFOH䝆FUBT EFM QPSUBM䜫NQBSBT DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫Na QBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEPIPSBSJP .POUFMBDVCJFSUBEFMBCPNCJMMBEFM GBSPHJS䜫OEPMBFOTFOUJEPIPSBSJP #PNCJMMBEFMGBSP %735/$* #PNCJMMBTIBM䜽HFOBT $POUJO䝄B .BOUFOJNJFOUP
- 464. $POUJO䝄B 䳜 -PT IBM䜽HFOPTDPOUJFOFO HBT QSFa TVSJ[BEP RVF QPES䜷BO IBDFS TBMUBS QJF[BTEFDSJTUBMTJTFSPNQFO 䳜 4JFNQSF NBO䜳KFMBT DPO DVJEBEP Z FWJUFBSB䜻B[PTZBCSBTJPOFT4JMBT CPNCJMMBT FTU䜫O FODFOEJEBT FWJUF FMDPOUBDUPDPOM䜷RVJEPT/VODBUPa RVFFMDSJTUBMTJOQSPUFDDJ䜽OFOMBT NBOPT M BDFJUF SFTJEVBM QPES䜷B DBMFOUBS FO FYDFTP MB CPNCJMMB Z IBDFSMBFTUBMMBSDVBOEPTFFODJFOa EB 4䜽MPTFEFCFFODFOEFSDVBOEPFTU䜫 NPOUBEBFOMPTGBSPT 䳜 4J VOB CPNCJMMB FTU䜫 EB䜻BEB P BHSJFUBEB D䜫NCJFMBEFJONFEJBUPZ EFTI䜫HBTFEFFMMBDPODVJEBEP 䳜 -MFWF QSPUFDDJ䜽O PDVMBS DVBOEP DBNCJFVOBCPNCJMMBTQFSFBRVF MB CPNCJMMB TF FOGS䜷F BOUFT EF UPa DBSMB $BNCJPEFMBCPNCJMMBEFM JOUFSNJUFOUFEFMBOUFSP UJQP -% 4JMBCPNCJMMBEFMJOUFSNJUFOUFEFMBOUFSP UJQP-% OPGVODJPOB MMFWFFMWFI䜷a DVMPBVOUBMMFSQSPGFTJPOBMQBSBRVFMP DPNQSVFCFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP $BNCJPEFMBCPNCJMMBEFMBMV[ BOUJOJFCMBEFMBOUFSB .BOUFOJNJFOUP
- 465. 4JMBMV[BOUJOJFCMBEFMBOUFSB OPGVOa DJPOBMMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFa TJPOBMQBSBRVFMPDPNQSVFCFO,JBSFa DPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $ $BNCJPEFMBCPNCJMMBEFMBMV[ EFQPTJDJ䜽O %3- UJQP-% 4JMBMV[EFQPTJDJ䜽O %3- OPGVODJPa OB MMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFTJPa OBM QBSB RVF MP DPNQSVFCFO ,JB SFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $BNCJPEFMBCPNCJMMB%3- UJQP CPNCJMMB .BOUFOJNJFOUP
- 466. 4J MB MV[EF DPOEVDDJ䜽O EJVSOB OP GVODJPOB MMFWF FM WFI䜷DVMP B VO UBMMFS QSPGFTJPOBMQBSBRVFMPDPNQSVFCFO,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $ $BNCJPEFMBCPNCJMMBEFM JOUFSNJUFOUFSFQFUJEPSMBUFSBM UJQP-% 4J FM JOUFSNJUFOUF SFQFUJEPS MBUFSBM OPGVODJPOB MMFWFFMWFI䜷DVMPBVOUBMMFS QSPGFTJPOBMQBSBRVFMPDPNQSVFCFO,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $BNCJPEFMBCPNCJMMBEFM JOUFSNJUFOUFSFQFUJEPSMBUFSBM UJQPCPNCJMMB %FTNPOUF FM DPOKVOUP EF MBT MVDFT EFMWFI䜷DVMPIBDJFOEPQBMBODBDPOMB MFOUF Z UJSBOEP EFM DPOKVOUP IBDJB GVFSB %FTDPOFDUFFMDPOFDUPSFM䜳DUSJDPEF MBCPNCJMMB 4FQBSFFMDBTRVJMMPZMBMFOUFHJSBOa EPFMDBTRVJMMPFOTFOUJEPBOUJIPSBa SJPIBTUBRVFMBTMFOH䝆FUBTEFMDBTa RVJMMPTFBMJOFFODPOMBTSBOVSBTEF MBMFOUF .BOUFOJNJFOUP
- 467. 4BRVF MB CPNCJMMBUJSBOEP EF FMMB IBDJBGVFSB *OTFSUF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP 7VFMWB B NPOUBS FM DBTRVJMMP Z MB MFOUF $POFDUF FM DPOFDUPS FM䜳DUSJDP EF MB CPNCJMMB 7VFMWB B JOTUBMBS FM DPOKVOUP EF MB MV[FOFMDVFSQPEFMWFI䜷DVMP $ $BNCJPEFMBCPNCJMMBEFMQJMPUP USBTFSPZEFGSFOP CSBFMQPSU䜽OUSBTFSP GMPKF MJHFSBNFOUP MPT UPSOJMMPT EF GJKBDJ䜽OEFMDPOKVOUPDPOVOEFTUPSa OJMMBEPSEFFTUSFMMB %FTNPOUF FM DPOKVOUP EF MV[ EF DPNCJOBDJ䜽OUSBTFSBEFMDVFSQPEFM WFI䜷DVMP %FTDPOFDUFFMDPOFDUPSEFMBMV[EF DPNCJOBDJ䜽OUSBTFSB YUSBJHB FM QPSUBM䜫NQBSBT EFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM DBTRVJMMPTFBMJOFFODPOMBTSBOVSBT EFMDPOKVOUP .BOUFOJNJFOUP
- 468. YUSBJHB MB CPNCJMMBEFM DBTRVJMMP QSFTJPO䜫OEPMBZHJS䜫OEPMBFOTFOUJa EP BOUJIPSBSJP IBTUB RVF MBT MFOa H䝆FUBTEFMBCPNCJMMBTFBMJOFFODPO MBTSBOVSBTEFMDBTRVJMMPYUSBJHBMB CPNCJMMBEFMDBTRVJMMP *OTFSUF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP Z H䜷SFMB IBTUB RVF TF FOa HBODIFFOTVQPTJDJ䜽ODPSSFDUB .POUF EF OVFWP FM DBTRVJMMP FO FM DPOKVOUP BMJOFBOEP MBT MFOH䝆FUBT EFM DBTRVJMMP DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫NQBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEP IPSBSJP $PMPRVFFMDPOKVOUPEFMV[EFDPNa CJOBDJ䜽O USBTFSB FO FM DVFSQP EFM WFI䜷DVMP $ $BNCJPEFMBCPNCJMMBEFM JOUFSNJUFOUFUSBTFSP CSBFMQPSU䜽OUSBTFSP GMPKF MJHFSBNFOUP MPT UPSOJMMPT EF GJKBDJ䜽OEFMDPOKVOUPDPOVOEFTUPSa OJMMBEPSEFFTUSFMMB %FTNPOUF FM DPOKVOUP EF MV[ EF DPNCJOBDJ䜽OUSBTFSBEFMDVFSQPEFM WFI䜷DVMP %FTDPOFDUFFMDPOFDUPSEFMBMV[EF DPNCJOBDJ䜽OUSBTFSB .BOUFOJNJFOUP
- 469. YUSBJHB FM QPSUBM䜫NQBSBTEFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM DBTRVJMMPTFBMJOFFODPOMBTSBOVSBT EFMDPOKVOUP YUSBJHB MB CPNCJMMB EFM DBTRVJMMP QSFTJPO䜫OEPMBZHJS䜫OEPMBFOTFOUJa EP BOUJIPSBSJP IBTUB RVF MBT MFOa H䝆FUBTEFMBCPNCJMMBTFBMJOFFODPO MBTSBOVSBTEFMDBTRVJMMPYUSBJHBMB CPNCJMMBEFMDBTRVJMMP *OTFSUF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP Z H䜷SFMB IBTUB RVF TF FOa HBODIFFOTVQPTJDJ䜽ODPSSFDUB .POUF EF OVFWP FM DBTRVJMMP FO FM DPOKVOUP BMJOFBOEP MBT MFOH䝆FUBT EFM DBTRVJMMP DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫NQBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEP IPSBSJP $PMPRVFFMDPOKVOUPEFMV[EFDPNa CJOBDJ䜽O USBTFSB FO FM DVFSQP EFM WFI䜷DVMP $ $BNCJPEFMBCPNCJMMBEFMQJMPUP USBTFSPZEFGSFOP UJQP-% 4J MB MV[ EF GSFOP Z FM QJMPUP USBTFSP -% OPGVODJPOBO MMFWFFMWFI䜷DVMP BVOUBMMFSQSPGFTJPOBMQBSBRVFMPDPNa QSVFCFO,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJa [BEP $BNCJPEFMBCPNCJMMBEFMBMV[ EFNBSDIBBUS䜫T .BOUFOJNJFOUP
- 470. 4JMBCPNCJMMBEFMBMV[EFNBSDIBBUS䜫T OPGVODJPOB MMFWF FM WFI䜷DVMP B VO UBMMFSQSPGFTJPOBMQBSBRVFMPDPNQSVFa CFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP $ $BNCJPEFMBCPNCJMMBEFMBMV[ BOUJOJFCMBUSBTFSB 4JMBCPNCJMMBEFMBMV[BOUJOJFCMBUSBTFa SB OPGVODJPOB MMFWFFMWFI䜷DVMPBVO UBMMFSQSPGFTJPOBMQBSBRVFMPDPNQSVFa CFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP .BOUFOJNJFOUP
- 471. $ $BNCJPEFMBCPNCJMMBEFMB UFSDFSBMV[EFGSFOP 4JMBUFSDFSBMV[EFGSFOP OPGVODJPa OBMMFWFFMWFI䜷DVMPBVOUBMMFSQSPGFTJPa OBM QBSB RVF MP DPNQSVFCFO ,JB SFDPa NJFOEB WJTJUBS VO DFOUSP EF TFSWJa DJPEJTUSJCVJEPS,JBBVUPSJ[BEP $BNCJPEFMBCPNCJMMBEFMBMV[ EFMBNBUS䜷DVMB $POVOEFTUPSOJMMBEPSEFQVOUBQMBa OB IBHB VO QPDP EF QBMBODB FO MB DVCJFSUBEFMBMFOUFEFTEFMBDBSDBa TB YUSBJHB FM QPSUBM䜫NQBSBT EFM DPOa KVOUP HJS䜫OEPMP FO TFOUJEP BOUJIPa SBSJP IBTUB RVF MBT MFOH䝆FUBT EFM DBTRVJMMPTFBMJOFFODPOMBTSBOVSBT EFMDPOKVOUP 3FUJSF MB CPNCJMMB EFM QPSUBM䜫NQBa SBTUJSBOEPEFMBNJTNBIBDJBGVFa SB *OTFSUF VOB OVFWB CPNCJMMB FO FM QPSUBM䜫NQBSBT .POUF EF OVFWP FM DBTRVJMMP FO FM DPOKVOUP BMJOFBOEP MBT MFOH䝆FUBT EFM DBTRVJMMP DPO MBT SBOVSBT EFM DPOKVOUP NQVKF FM QPSUBM䜫NQBSBT FO FM DPOKVOUP Z H䜷SFMP FO TFOUJEP IPSBSJP MJOFF MBT MFOH䝆FUBT EF MB DVCJFSUB EF MB MFOUF DPO MBT SBOVSBT EF MB DBSDBTBFJOUSPEV[DBMBMFOUFFOTV TJUJP $BNCJPEFMBCPNCJMMBEFMBMV[ EFMFDUVSB TJFTU䜫FRVJQBEP .BOUFOJNJFOUP
- 472. %735/$* OUFTEFPQFSBSDPOMBTMVDFTJOUFSJPa SFT BTFH䝄SFTFEFRVFFMCPU䜽O0'' FTU䜫 QVMTBEPQBSB JNQFEJS RVF TF RVFNF MPT EFEPT P SFDJCJS VOB EFTa DBSHBFM䜳DUSJDB $POVOEFTUPSOJMMBEPSEFQVOUBQMBa OB IBHB VO QPDP EF QBMBODB FO MB DVCJFSUBEFMBMFOUFEFTEFMBDBSDBa TB 4BRVF MB CPNCJMMB UJSBOEP EF FMMB IBDJBGVFSB *OTUBMF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP MJOFF MBT MFOH䝆FUBT EF MB DVCJFSUB EF MB MFOUF DPO MBT SBOVSBT EF MB DBSDBTBFJOUSPEV[DBMBMFOUFFOTV TJUJP 5/$*䜝/ 5FOHB DVJEBEP EF OP FOTVDJBS P EBa 䜻BS MBT MFOUFT MBT MFOH䝆FUBT EF MBT MFOUFTZMBTDBSDBTBTEFQM䜫TUJDP $BNCJPEFMBCPNCJMMBEFMBMV[ EFMFTQFKPEFDPSUFT䜷B TJFTU䜫 FRVJQBEP 4JMBCPNCJMMBEFMBMV[EFMFTQFKPEFDPSa UFT䜷B UJQP-% OPGVODJPOB MMFWFFM WFI䜷DVMPBVOUBMMFSQSPGFTJPOBMQBSBRVF MP DPNQSVFCFO ,JB SFDPNJFOEB WJTJUBS VO DFOUSP EF TFSWJDJP EJTUSJCVJEPS ,JB BVUPSJ[BEP $BNCJPEFMBCPNCJMMBEFMBMV[ EFMIBCJU䜫DVMP TJFTU䜫FRVJQBEP %735/$* OUFTEFPQFSBSDPOMBTMVDFTJOUFSJPa SFT BTFH䝄SFTFEFRVFFMCPU䜽O0'' FTU䜫 QVMTBEP QBSB JNQFEJS RVF TF RVFNF MPT EFEPT P SFDJCJS VOB EFTa DBSHBFM䜳DUSJDB $POVOEFTUPSOJMMBEPSEFQVOUBQMBa OB IBHB VO QPDP EF QBMBODB FO MB DVCJFSUBEFMBMFOUFEFTEFMBDBSDBa TB .BOUFOJNJFOUP
- 473. 4BRVF MB CPNCJMMBUJSBOEP EF FMMB IBDJBGVFSB *OTUBMF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP MJOFF MBT MFOH䝆FUBT EF MB DVCJFSUB EF MB MFOUF DPO MBT SBOVSBT EF MB DBSDBTBFJOUSPEV[DBMBMFOUFFOTV TJUJP 5/$*䜝/ 5FOHB DVJEBEP EF OP FOTVDJBS P EBa 䜻BS MBT MFOUFT MBT MFOH䝆FUBT EF MBT MFOUFTZMBTDBSDBTBTEFQM䜫TUJDP $BNCJPEFMBCPNCJMMBEFMBMV[ EFMBHVBOUFSB $POVOEFTUPSOJMMBEPSEFQVOUBQMBa OB IBHB VO QPDP EF QBMBODB FO MB MFOUFEFTEFFMJOUFSJPSEFMDPOKVOUP EFMBMV[ 4BRVF MB CPNCJMMB UJSBOEP EF FMMB IBDJBGVFSB *OTUBMF VOB OVFWB CPNCJMMB FO FM DBTRVJMMP *OTUBMFFMDPOKVOUPEFMBMV[FOFMJOa UFSJPS 5/$*䜝/ 5FOHB DVJEBEP EF OP FOTVDJBS P EBa 䜻BS MBT MFOUFT MBT MFOH䝆FUBT EF MBT MFOUFTZMBTDBSDBTBTEFQM䜫TUJDP $BNCJPEFMBCPNCJMMBEFM IBCJU䜫DVMPEFMQPSU䜽OUSBTFSP $POVOEFTUPSOJMMBEPSEFQVOUBQMBa OB IBHB VO QPDP EF QBMBODB FO MB DVCJFSUBEFMBMFOUFEFTEFMBDBSDBa TB 4BRVF MB CPNCJMMB UJSBOEP EF FMMB IBDJBGVFSB .BOUFOJNJFOUP
- 474. *OTUBMF VOB OVFWBCPNCJMMB FO FM DBTRVJMMP MJOFF MBT MFOH䝆FUBT EF MB DVCJFSUB EF MB MFOUF DPO MBT SBOVSBT EF MB DBSDBTBFJOUSPEV[DBMBMFOUFFOTV TJUJP 5/$*䜝/ 5FOHB DVJEBEP EF OP FOTVDJBS P EBa 䜻BS MBT MFOUFT MBT MFOH䝆FUBT EF MBT MFOUFTZMBTDBSDBTBTEFQM䜫TUJDP 0SJFOUBDJ䜽OEFMPTGBSPTZEFMPT GBSPTBOUJOJFCMB QBSBVSPQB 0SJFOUBDJ䜽OEFMPTGBSPT *OGMFMPTOFVN䜫UJDPTBMBQSFTJ䜽OFTa QFDJGJDBEB Z SFUJSF UPEB DBSHB EFM WFI䜷DVMP FYDFQUP FM DPOEVDUPS FM OFVN䜫UJDPEFSFQVFTUPZMBTIFSSBa NJFOUBT $PMPRVF FM WFI䜷DVMP TPCSF VOB TVa QFSGJDJFQMBOB 5SBDF M䜷OFBT WFSUJDBMFT RVF QBTFO QPS MPT DFOUSPT SFTQFDUJWPT EF MPT GBSPT Z VOB M䜷OFB IPSJ[POUBM RVF QBTFQPSFMDFOUSPEFMPTGBSPT FO MBQBOUBMMB $POMPTGBSPTZMBCBUFS䜷BFOFTUBEP OPSNBM PSJFOUF MPT GBSPT EF NPEP RVFMBQBSUFN䜫TJOUFOTBTFEJSJKBB MBTM䜷OFBTWFSUJDBMFTZIPSJ[POUBM 1BSB PSJFOUBS MBT MVDFT EF DSVDF Z EFDBSSFUFSBBMBEFSFDIBPBMBJ[a RVJFSEB HJSFFMEFTUPSOJMMBEPS FO TFOUJEP IPSBSJP P BOUJIPSBSJP 1BSB PSJFOUBSMBTMVDFTEFDSVDFZEFDBa SSFUFSB IBDJB BSSJCB P IBDJB BCBKP HJSFFMEFTUPSOJMMBEPS FOTFOUJEP IPSBSJPPBOUJIPSBSJP .BOUFOJNJFOUP
- 475. 0 0SJFOUBDJ䜽OEFMPTGBSPTBOUJOJFCMB -BMV[BOUJOJFCMBEFMBOUFSBQVFEFPSJFOa UBSTFEFMNJTNPNPEPRVFMPTGBSPT $POMBTMVDFTBOUJOJFCMBEFMBOUFSBTZMB CBUFS䜷B FO FTUBEPOPSNBM PSJFOUF MBT MVDFTBOUJOJFCMBEFMBOUFSBT 1BSBPSJFOUBSMBMV[BOUJOJFCMBEFMBOUFSB IBDJB BSSJCB P IBDJB BCBKP HJSF FM EFTa UPSOJMMBEPSFOTFOUJEPIPSBSJPPBOUJIPa SBSJP .BOUFOJNJFOUP
- 476.
- 477. 6 6OJEBENN $POEJDJ䜽OEFMWFI䜷DVMP 'BSP UJQP.'3 'BSPUJQPEFQSPZFDDJ䜽OEPCMF MUVSBEFMTVFMP %JTUBODJBFOUSF GBSPT MUVSBEFMTVFMP %JTUBODJBFOUSF GBSPT -VDFTEFDBSSFa UFSBDSVDF -VDFTEFDBSSFa UFSBDSVDF -VDFTEFDBSSFa UFSBDSVDF -VDFTEFDBSSFa UFSBDSVDF ) 8 ) 8 4JODPOEVDUPS NN $PODPOEVDUPS NN $POEJDJ䜽OEFMWFI䜷DVMP -V[BOUJOJFCMBEFMBOUFSB UJQP -V[BOUJOJFCMBEFMBOUFSB UJQP# -V[BOUJOJFCMBEFMBOUFSB UJQP$ MUVSBEFMTVFMP %JTUBODJBFOUSF GBSPT MUVSBEFMTVFMP %JTUBODJBFOUSF GBSPT MUVSBEFMTVFMP %JTUBODJBFOUSF GBSPT ) 8 ) 8 ) 8 4JODPOEVDUPS NN $PODPOEVDUPS NN .BOUFOJNJFOUP
- 478. ' 'BSPEFMV[EFDSVDF 7FI䜷DVMPDPODPOEVDDJ䜽OBMBJ[RVJFSEB ODJFOEBMBMV[EFDSVDFTJOFMDPOEVDUPSFOFMJOUFSJPS -BM䜷OFBEFDPSUFEFCFS䜷BQSPZFDUBSTFFOMB[POBJOEJDBEBFOMBM䜷OFBEFDPSUFEFMBJNBHFO MPSJFOUBSMBMV[EFDSVDF BKVTUFQSJNFSPMBPSJFOUBDJ䜽OIPSJ[POUBMZMVFHPMBWFSUJDBM 4JTFIBJOTUBMBEPVOEJTQPTJUJWPEFOJWFMBDJ䜽OEFMPTGBSPT BKVTUFFMJOUFSSVQUPSEFMNJTNPBMBTQPTJDJPOFT .BOUFOJNJFOUP
- 479. ' 'BSPEFMV[EFDSVDF 7FI䜷DVMPDPODPOEVDDJ䜽OBMBEFSFDIB ODJFOEBMBMV[EFDSVDFTJOFMDPOEVDUPSFOFMJOUFSJPS -BM䜷OFBEFDPSUFEFCFS䜷BQSPZFDUBSTFFOMB[POBJOEJDBEBFOMBM䜷OFBEFDPSUFEFMBJNBHFO MPSJFOUBSMBMV[EFDSVDF BKVTUFQSJNFSPMBPSJFOUBDJ䜽OIPSJ[POUBMZMVFHPMBWFSUJDBM 4JTFIBJOTUBMBEPVOEJTQPTJUJWPEFOJWFMBDJ䜽OEFMPTGBSPT BKVTUFFMJOUFSSVQUPSEFMNJTNPBMBTQPTJDJPOFT .BOUFOJNJFOUP
- 480.
- 481. $ $6*%%0%-41$50953*03 $VJEBEPEFMFYUFSJPS 1SFDBVDJPOFTHFOFSBMFTEFMDVJEBEP FYUFSJPS TJNQPSUBOUFRVFTJHBMBTJOEJDBDJPOFT EFMBTFUJRVFUBTDVBOEPFNQMFFMJNQJBa EPSFT RV䜷NJDPT PQSPEVDUPT QBSB QVMJS -FBUPEBTMBTBEWFSUFODJBTZQSFDBVDJPa OFTRVFBQBSFDFOFOMBFUJRVFUB .BOUFOJNJFOUPEFMBDBCBEP -BWBEP 1BSBBZVEBSBQSPUFHFSFMBDBCBEPEFM WFI䜷DVMPEFMBPYJEBDJ䜽OZEFMEFUFSJPSP M䜫WFMPCJFOBMNFOPTVOBWF[BMNFTDPO BHVBUJCJBPGS䜷B 4J VUJMJ[B TV WFI䜷DVMP FO DBSSFUFSBT TJO BTGBMUBS EFCFS䜷BMBWBSMPEFTQV䜳TEFDBa EBDPOEVDDJ䜽OQPSFTUFUJQPEFDBSSFUFa SBT 3FUJSF DPO DVJEBEP DVBMRVJFS BDVa NVMBDJ䜽OEFTBM TVDJFEBE CBSSPVPUSPT NBUFSJBMFTFYUSB䜻PTTFH䝄SFTFEFESFa OBSMPTBHVKFSPTFOMPTCPSEFTJOGFSJPSFT EFMBTQVFSUBTZNBOUFOHBTJFNQSFMJNa QJPTMPTQBOFMFTJOGFSJPSFT 4J OP MJNQJB FOTFHVJEB MBT NBODIBT EF JOTFDUPT BMRVJUS䜫O FYDSFNFOUPTEFQ䜫a KBSPT DPOUBNJOBDJ䜽OJOEVTUSJBMPTJNJMBa SFT FTUPT BDBCBS䜫O QPS FTUSPQFBS FM BDBCBEPEFMDPDIF 5/$*䜝/ 䳜 /PVUJMJDFKBC䜽OGVFSUFOJEFUFSHFOa UFTRVFDPOUFOHBOTVTUBODJBTRV䜷a NJDBT /P MBWF FM WFI䜷DVMP EJSFDUBa NFOUFCBKPMBMV[TPMBSPDVBOEPMB DBSSPDFS䜷BFTU䜳DBMJFOUF 䳜 5FOHBDVJEBEPBMMBWBSMBTWFOUBOJa MMBTEFTVWFI䜷DVMP TQFDJBMNFOUFBMVTBSBHVBBQSFa TJ䜽O QPES䜷B JOUSPEVDJSTF BHVB QPS MBTWFOUBOJMMBTZNPKBSFMJOUFSJPS 䳜 1BSB FWJUBS EB䜻PT FO MBT QJF[BT QM䜫TUJDBTZMBTMVDFT OPMJNQJFDPO EJTPMWFOUFTRV䜷NJDPTPEFUFSHFOUFT GVFSUFT %735/$* 'SFOPTNPKBEPT 5SBTMBWBSFMWFI䜷DVMP DPNQSVFCFMPT GSFOPT NJFOUSBT DPOEVDF EFTQBDJP QBSB WFS TJ TF IBO WJTUP BGFDUBEPT QPSFMBHVB4JMPTGSFOPTOPGVODJPa OBO DPSSFDUBNFOUF T䜳RVFMPT QJT䜫Oa EPMPTMJHFSBNFOUFNJFOUSBTDPOEVDF FOM䜷OFBSFDUBZBQPDBWFMPDJEBE -BWBEPBBMUBQSFTJ䜽O 䳜 $VBOEP VUJMJDF MBWBEPSFT B BMUB QSFa TJ䜽O BTFH䝄SFTFEFNBOUFOFSVOBEJTa UBODJBBEFDVBEBDPOSFTQFDUPBMWFI䜷a DVMP 6OBEJTUBODJBJOTVGJDJFOUFPVOBQSFa TJ䜽OFYDFTJWBQVFEFEBSMVHBSBEB䜻PT FO MPT DPNQPOFOUFT P FOUSBEB EF BHVB 䳜 /PBQMJRVFEJSFDUBNFOUFFMBHVBBBMa UB QSFTJ䜽O FO MB D䜫NBSB TFOTPSFT P 䜫SFB DJSDVOEBOUF 6O HPMQF BQMJDBEP DPOBHVBBBMUBQSFTJ䜽OQVFEFQSPEVa DJSRVFFMEJTQPTJUJWPOPGVODJPOFDPa SSFDUBNFOUF 䳜 /P BDFSRVF MB QVOUB EF MB CPRVJMMB B MBT NBOHBT DVCJFSUBT EF QM䜫TUJDP P DBVDIP PDPOFDUPSFT ZBRVFQVFEFO EB䜻BSTF TJ FOUSBO FO DPOUBDUP DPO BHVBBBMUBQSFTJ䜽O .BOUFOJNJFOUP
- 482. 5/$*䜝/ 䳜 -B FOUSBEBEF BHVB BM MJNQJBS FM DPNQBSUJNFOUPEFMNPUPSPMBBMUB QSFTJ䜽OEFMBHVBEVSBOUFFMMBWBEP QVFEFQSPWPDBSVOGBMMPEFMDJSDVJUP FM䜳DUSJDP VCJDBEP FO FM DPNQBSUJa NFOUPEFMNPUPS 䳜 /VODBQFSNJUBRVFBHVBVPUSPTM䜷a RVJEPT FOUSFO FO DPOUBDUP DPO DPNQPOFOUFT FM䜳DUSJDPTFMFDUS䜽OJa DPTEFMJOUFSJPSEFMWFI䜷DVMP ZBRVF QPES䜷BEB䜻BSMPT ODFSBEP ODFSFFMWFI䜷DVMPDVBOEPFTU䜳TFDP -BWFZTFRVFTJFNQSFFMWFI䜷DVMPBOUFT EFFODFSBSMP6UJMJDFDFSB QBTUBPFOM䜷a RVJEP EF CVFOB DBMJEBE Z TJHB MBT JOTa USVDDJPOFTEFVTPEFMGBCSJDBOUFODFSF UPEP FM HVBSOFDJEP EF NFUBM QBSB QSPa UFHFSMPZNBOUFOFSMPCSJMMBOUF MJNJOBSFMBDFJUF FMBMRVJUS䜫OZMPTNBa UFSJBMFTTJNJMBSFTDPOVORVJUBNBODIBT TVFMF SFUJSBS MB DFSB EFM BDBCBEP TFa H䝄SFTFEFWPMWFSBFODFSBSFTBT[POBT JODMVTPTJFMSFTUPEFMWFI䜷DVMPZBOPOFa DFTJUB N䜫T FODFSBEP /P BQMJRVF DFSB FOMBVOJEBESFQVKBEBTJOQJOUBS ZBRVF QPES䜷BEFTMVTUSBSTF 5/$*䜝/ 䳜 -JNQJBSFMQPMWPPMBTVDJFEBEEFMB DBSSPDFS䜷BDPOVOQB䜻PTFDPSBZBS䜫 FMBDBCBEP 䳜 /PVUJMJDFMBOBEFBDFSP MJNQJBEPa SFT BCSBTJWPT EFUFSHFOUFT 䜫DJEPT OJ EFUFSHFOUFT GVFSUFT RVF DPOa UFOHBO BHFOUFT BMUBNFOUF BMDBMJa OPT P D䜫VTUJDPT TPCSF QJF[BT EF BMVNJOJP DSPNBEBT P BOPEJ[BEBT 1PES䜷B EB䜻BS MB DBQB QSPUFDUPSB Z EFDPMPSBSPEFUFSJPSBSMBQJOUVSB 3FQBSBDJ䜽OEFEB䜻PTFOFMBDBCBEP %FCFSFQBSBSDVBOUPBOUFTMPTSBZB[PT QSPGVOEPT P CSFDIBT QSPEVDJEBT QPS QJFESBTFOMBTVQFSGJDJFEFMBQJOUVSB-B QBSUFEFNFUBMFYQVFTUBTFPYJEBS䜫FOa TFHVJEBZTVSFQBSBDJ䜽OTFS䜫N䜫TDPTa UPTB /05 4JTVWFI䜷DVMPTVGSFEB䜻PTZFTOFDFa TBSJPSFQBSBSPSFFNQMB[BSDVBMRVJFS NFUBM BTFH䝄SFTFEFRVFFMUBMMFSEF DBSSPDFS䜷B BQMJDB BOUJDPSSPTJWP B MBT QJF[BTRVFTFWBOBSFQBSBSPSFFNa QMB[BS .BOUFOJNJFOUPEFMCSJMMPEFMNFUBM 䳜 1BSBRVJUBSBMRVJUS䜫OPJOTFDUPT VUJMJa DFVOMJNQJBEPSEFBMRVJUS䜫OZOPVO SBTDBEPSVPUSPPCKFUPQVO[BOUF 䳜 1BSBQSPUFHFSMBTVQFSGJDJFEFMBTQJFa [BTNFU䜫MJDBTCSJMMBOUFTDPOUSBMBDPa SSPTJ䜽O BQMJRVFVOBDBQBEFDFSBPVO DPOTFSWBOUF DSPN䜫UJDP Z GSPUF IBTUB DPOTFHVJSVOHSBOCSJMMP .BOUFOJNJFOUP
- 483. 䳜 %VSBOUFMB䜳QPDBJOWFSOBMPFO[POBT DPTUFSBT DVCSBFTUBTQJF[BTDPOVOB DBQBHSVFTBEFDFSBPDPOTFSWBOUF4J FTOFDFTBSJP SFWJTUB MBT QJF[BT DPO WBTFMJOBOPDPSSPTJWBVPUSBTVTUBODJB QSPUFDUPSB . .BOUFOJNJFOUPEFMBQBSUFJOGFSJPS EFMBDBSSPDFS䜷B -PT NBUFSJBMFT DPSSPTJWPT RVF TF VUJMJa [BOQBSBFYUSBFSFMIJFMPPMBOJFWFPQBa SBDPOUSPMBSFMQPMWPQVFEFOBDVNVMBSa TFFOMPTCBKPTEFMBDBSSPDFS䜷B4JFTUBT BDVNVMBDJPOFTOPTFSFUJSBO TFQSPEVa DJS䜫VOBPYJEBDJ䜽ON䜫TS䜫QJEBFOQJF[BT EFMJOGFSJPSEFMBDBSSPDFS䜷BDPNPFOMPT DPOEVDUPT EF DPNCVTUJCMF FM CBTUJEPS FMQBOFMEFMTVFMP FMTJTUFNBEFFTDBQF JODMVTPBVORVF䜳TUPTIBZBOTJEPUSBUBa EPTDPOUSBMBPYJEBDJ䜽O -BWFDPNQMFUBNFOUFMPTCBKPTEFMWFI䜷a DVMP Z MPT IVFDPT EF MBT SVFEBT DPO BHVB UJCJB P GS䜷B VOB WF[ BM NFT EFTa QV䜳TEFDPOEVDJSFODBSSFUFSBTTJOBTa GBMUBS Z DVBOEP FM JOWJFSOP TF UFSNJOF 1SFTUF BUFODJ䜽O B FTUBT [POBT QPSRVF FTEJG䜷DJMWFSUPEPFMCBSSPZMBTVDJFEBE 4FS䜫 N䜫T EB䜻JOP IVNFEFDFS MB TVDJFa EBE EF MB DBSSFUFSB TJO RVJUBSMB -PT CPSEFTJOGFSJPSFTEFMBTQVFSUBT QBOFa MFTZDPNQPOFOUFTBVYJMJBSFTUJFOFOPSJa GJDJPT EF ESFOBKF RVF OP QVFEFO FTUBS PCTUSVJEPT QPS MB TVDJFEBE M BHVB BMa NBDFOBEB FO FTUPT PSJGJDJPT BDBCBS䜫 QPSPYJEBSMPT %735/$* 5SBTMBWBSFMWFI䜷DVMP DPNQSVFCFMPT GSFOPT NJFOUSBT DPOEVDF EFTQBDJP QBSB WFS TJ TF IBO WJTUP BGFDUBEPT QPSFMBHVB4JMPTGSFOPTOPGVODJPa OBO DPSSFDUBNFOUF T䜳RVFMPT QJT䜫Oa EPMPTMJHFSBNFOUFNJFOUSBTDPOEVDF FOM䜷OFBSFDUBZBQPDBWFMPDJEBE .BOUFOJNJFOUPEFMBMVNJOJPEFMBT SVFEBT MBMVNJOJPEFMBTSVFEBTFTU䜫SFWFTUJEP QPSVOBDBCBEPQSPUFDUPSUSBOTQBSFOUF 䳜 /PFNQMFFOJOH䝄OMJNQJBEPSBCSBTJWP MVTUSBEPT EJTPMWFOUF P DFQJMMP EF BMBNCSF TPCSF FM BMVNJOJP 1PES䜷BO BSB䜻BSPFTUSPQFBSFMBDBCBEP 䳜 -JNQJF MB SVFEB DVBOEP TF IBZB FOa GSJBEP 䳜 6UJMJDF T䜽MP VO KBC䜽O P EFUFSHFOUF OFVUSP Z MBWF CJFO DPO BHVB -JNQJF MBTSVFEBTEFTQV䜳TEFDPOEVDJSTPCSF QBWJNFOUPTFOMPTRVFIBZBTBMZVa EBBQSFWFOJSMBDPSSPTJ䜽O 䳜 /P MBWF MBT SVFEBT DPO MPT DFQJMMPT B N䜫YJNB WFMPDJEBE EF MPT U䝄OFMFT EF MBWBEPBVUPN䜫UJDP 䳜 /PVUJMJDFEFUFSHFOUFTBMDBMJOPTOJ䜫DJa EPT1PES䜷BOEB䜻BSZDPSSPFSFMBMVNJa OJPEFMBTSVFEBTSFWFTUJEPQPSFMQSPa UFDUPSUSBOTQBSFOUF 1SPUFDDJ䜽ODPOUSBDPSSPTJ䜽O 1SPUFKBTVWFI䜷DVMPDPOUSBMBDPSSPTJ䜽O (SBDJBTBMBTU䜳DOJDBTEFDPOTUSVDDJ䜽OZ EJTF䜻P QBSB DPNCBUJS MB DPSSPTJ䜽O N䜫T BWBO[BEBT GBCSJDBNPTWFI䜷DVMPTDPOMB NBZPS DBMJEBE 4JO FNCBSHP FTUP T䜽MP FTQBSUFEFOVFTUSPUSBCBKP1BSBMPHSBS VOB SFTJTUFODJB BOUJDPSSPTJWB B MBSHP QMB[P FTOFDFTBSJPDPOUBSDPOMBBZVEB ZQBSUJDJQBDJ䜽OEFMQSPQJFUBSJPEFMWFI䜷a DVMP .BOUFOJNJFOUP
- 484. $ $BVTBTDPNVOFTEFMBDPSSPTJ䜽O -BTDBVTBTN䜫TIBCJUVBMFTEFDPSSPTJ䜽O FOFMWFI䜷DVMPTPO 䳜 -B TBMEFM QBWJNFOUP MB TVDJFEBE Z IVNFEBERVFTFBDVNVMBOFOMPTCBa KPTEFMWFI䜷DVMP 䳜 $BEB WF[ RVF QJFESBT HSBWJMMB BCSBa TJ䜽OPMPTTJNQMFTSBZB[PTPBCPMMBEVa SBT FMJNJOBO MB QJOUVSB P FM SFWFTUJa NJFOUPQSPUFDUPSEFMWFI䜷DVMP FMNFa UBM TF EFTQSPUFHF Z RVFEB N䜫T FYa QVFTUPBMBDPSSPTJ䜽O ;POBTEFNBZPSDPSSPTJ䜽O 4J WJWF FO VOB [POB EPOEF FM WFI䜷DVMP FTU䜫 FYQVFTUP IBCJUVBMNFOUF B NBUFa SJBMFT DPSSPTJWPT FT NVZ JNQPSUBOUF QSPUFHFSMP DPOUSB MB DPSSPTJ䜽O MHVOBT EFMBTDBVTBTDPNVOFTRVFBDFMFSBOFM QSPDFTP DPSSPTJWP TPO MB TBM EFM QBWJa NFOUP MPTQSPEVDUPTRV䜷NJDPTEFDPOa USPM EF QPMWP FM BJSF EFM PD䜳BOP Z MB DPOUBNJOBDJ䜽OJOEVTUSJBM -BIVNFEBEGBDJMJUBMBDPSSPTJ䜽O -BIVNFEBEQSPQJDJBMBTDPOEJDJPOFTFO MBT RVF MB DPSSPTJ䜽O UJFOF MVHBS 1PS FKFNQMP MBDPSSPTJ䜽OTFBDFMFSBDPOVO HSBEP BMUP EF IVNFEBE TPCSF UPEP DVBOEP MBT UFNQFSBUVSBT FTU䜫O KVTUP QPS FODJNB EF MB DPOHFMBDJ䜽O O UBMFT TJUVBDJPOFT FM NBUFSJBM DPSSPTJWP FTU䜫 FODPOUBDUPDPOMBTTVQFSGJDJFTEFMWFI䜷a DVMPQPSNFEJPEFMBIVNFEBERVFUBSa EBFOFWBQPSBSTF MCBSSPFTNVZDPSSPTJWPQPSRVFUBSEB FO TFDBSTF Z NBOUJFOF MB IVNFEBE FO DPOUBDUPDPOFMWFI䜷DVMPVORVFFMCBa SSPQBSF[DBRVFFTU䜫TFDP UPEBW䜷BQVFa EFDPOUFOFSIVNFEBEZQSPQJDJBSMBDPa SSPTJ䜽O -BT BMUBT UFNQFSBUVSBT UBNCJ䜳O QVFa EFO BDFMFSBS MB DPSSPTJ䜽O EF MBT [POBT RVFOPFTU䜫OCJFOWFOUJMBEBTQBSBBZVa EBSBRVFMBIVNFEBETFEJTQFSTF %FCJEP B UPEBT FTUBT SB[POFT FT NVZ JNQPSUBOUF NBOUFOFS FM WFI䜷DVMP MJCSF EFCBSSPVBDVNVMBDJPOFTEFPUSPTNBa UFSJBMFTTUPOPTFBGFDUB䝄OJDBNFOUF B MBT TVQFSGJDJFT WJTJCMFT TJOP UBNCJ䜳O ZTPCSFUPEP BMPTCBKPTEFMWFI䜷DVMP ZVEBSBQSFWFOJSMBDPSSPTJ䜽O 1VFEFBZVEBSBQSFWFOJSMBDPSSPTJ䜽OTJa HVJFOEPMBTJOEJDBDJPOFTRVFBQBSFDFOB DPOUJOVBDJ䜽O .BOUFOHBFMWFI䜷DVMPMJNQJP MNFKPSNPEPQBSBJNQFEJSMBDPSSPTJ䜽O FTNBOUFOFSFMWFI䜷DVMPMJNQJPZMJCSFEF TVTUBODJBT DPSSPTJWBT 1SFTUF FTQFDJBM BUFODJ䜽OBMBQBSUFJOGFSJPSEFMWFI䜷DVMP 䳜 4JWJWFFOVOB[POBEFBMUBDPSSPTJ䜽O EPOEFTFVUJMJDFTBMFOMBTDBM[BEBT P WJWFDFSDBEFMNBSPFO[POBTEFDPOa UBNJOBDJ䜽OJOEVTUSJBM DPOMMVWJB䜫DJEB FUDQSFTUFFTQFDJBMBUFODJ䜽OBMBIPa SBEFQSFWFOJSMBDPSSPTJ䜽OOJOWJFSa OP MBWF DPO VOB NBOHVFSB MPT CBKPT EFMWFI䜷DVMP QPSMPNFOPT VOBWF[BM NFT Z BTFH䝄SFTF EF WPMWFS B MJNQJBS MBQBSUFJOGFSJPSEFMWFI䜷DVMPDVBOEPMB UFNQPSBEBJOWFSOBMGJOBMJDF 䳜 $VBOEP MJNQJF MPT CBKPT EFM WFI䜷DVMP QSFTUF FTQFDJBM BUFODJ䜽O B MPT FMFa NFOUPT EFCBKP EFM HVBSEBCBSSPT Z PUSBT [POBT RVF OP FTU䜫O B MB WJTUB )䜫HBMPUPEPBDPODJFODJB TJNQMFNFOa UFNPKBSFMCBSSPFOMVHBSEFMJNQJBSMP IBTUBFYUSBFSMPBDFMFSBS䜫MBDPSSPTJ䜽O FOWF[EFJNQFEJSMBMBHVBBQSFTJ䜽O Z FM WBQPS TPO N䜳UPEPT NVZ FGFDUJa WPTQBSBRVJUBSFMCBSSPZMBTTVTUBOa DJBTDPSSPTJWBT .BOUFOJNJFOUP
- 485. 䳜 $VBOEP MJNQJFMPT QBOFMFT JOGFSJPSFT EFMBTQVFSUBT MPTQBOFMFTPTDJMBOUFT Z MBT QJF[BT BVYJMJBSFT BTFH䝄SFTF EF RVF MPT PSJGJDJPT EF ESFOBKF FTU䜫O BCJFSUPTQBSBRVFMBIVNFEBEQVFEB FWBQPSBSTF Z OP RVFEBS BUSBQBEB Z BDFMFSBSMBDPSSPTJ䜽O . .BOUFOHBFMHBSBKFMJNQJP /P BQBSRVF FM WFI䜷DVMP FO VOB HBSBKF NBM WFOUJMBEP Z I䝄NFEP 'BWPSFDF MBT DPOEJDJPOFTQBSBMBDPSSPTJ䜽O4PCSFUPa EPTJMBWBTVWFI䜷DVMPEFOUSPEFMHBSBKF PMPBQBSDBEFOUSPDVBOEPUPEBW䜷BFTU䜫 NPKBEPPDVCJFSUPEFOJFWF IJFMPPCBa SSP *ODMVTP VO HBSBKF DBMJFOUF QVFEF DPOUSJCVJS B MB DPSSPTJ䜽O TJ OP FTU䜫 MP TVGJDJFOUFNFOUF WFOUJMBEP QBSB RVF MB IVNFEBEEFTBQBSF[DB .BOUFOHBMBQJOUVSBZFMHVBSOFDJEP FOCVFOFTUBEP -PTBSB䜻B[PTPFMEFTDPODIBNJFOUPFO FMBDBCBEPEFCFODVCSJSTFMPBOUFTQPa TJCMFDPOQJOUVSBQBSBSFUPRVFTQBSBSFa EVDJS MB QPTJCJMJEBE EF DPSSPTJ䜽O 4J FM NFUBM RVFEB BM EFTDVCJFSUP TF SFDPa NJFOEBEJSJHJSTFBVOBUJFOEBFTQFDJBMJa [BEBFODBSSPDFS䜷BZQJOUVSB YDSFNFOUPTEFQ䜫KBSPTMPTFYDSFNFOa UPT EF Q䜫KBSPT TPO FTQFDJBMNFOUF DPa SSPTJWPT Z QVFEFO EB䜻BS MB QJOUVSB FO UBO TPMP QPDBT IPSBT MJN䜷OFMPT TJFNa QSFUBOQSPOUPDPNPTFBQPTJCMF /PEFTDVJEFFMJOUFSJPS -B IVNFEBE BDVNVMBEB FO MBT BMGPNa CSJMMBT Z NPRVFUB QVFEF QSPWPDBS DPa SSPTJ䜽O $PNQSVFCF QFSJ䜽EJDBNFOUF MB NPRVFUBEFCBKPEFMBTBMGPNCSJMMBTQBSB BTFHVSBSTF EF RVF FTU䜫 TFDB 5FOHB NVDIPDVJEBEPTJUSBOTQPSUBGFSUJMJ[BOa UFT QSPEVDUPT EF MJNQJF[B P RV䜷NJDPT EFOUSPEFMWFI䜷DVMP TNFKPSUSBOTQPSUBSEJDIPTNBUFSJBMFT FO DPOUFOFEPSFT BEFDVBEPT -JNQJF FO TFHVJEBDVBMRVJFSEFSSBNFPGVHB MBWF MB [POB DPO BHVB MJNQJB Z T䜳RVFMB QPS DPNQMFUP $VJEBEPEFMJOUFSJPS 1SFDBVDJPOFTHFOFSBMFTFOFM JOUFSJPS WJUF RVF QSPEVDUPT RV䜷NJDPT DPNP QFSGVNF BDFJUFDPTN䜳UJDP DSFNBTPMBS KBC䜽O EF NBOPT Z BNCJFOUBEPS FOUSFO FODPOUBDUPDPOMBTQJF[BTJOUFSJPSFT ZB RVFQPES䜷BODBVTBSEFTQFSGFDUPTPEFa DPMPSBDJ䜽O4JFOUSBOFODPOUBDUPDPOMBT QJF[BT JOUFSJPSFT M䜷NQJFMBT JONFEJBUBa NFOUF 4J FT OFDFTBSJP VUJMJDF VO MJNa QJBEPSEFWJOJMP$POTVMUFMBTJOTUSVDDJPa OFTQBSBTVVTPDPSSFDUP 5/$*䜝/ /VODB QFSNJUB RVF BHVB V PUSPT M䜷a RVJEPTFOUSFOFODPOUBDUPDPODPNa QPOFOUFT FM䜳DUSJDPTFMFDUS䜽OJDPT EFM JOUFSJPS EFM WFI䜷DVMP ZB RVF QPES䜷B EB䜻BSMPT 5/$*䜝/ MMJNQJBSQSPEVDUPTEFDVFSP WPMBOa UF BTJFOUPT FUD VUJMJDF VO EFUFSa HFOUF OFVUSP P TPMVDJPOFT RVF DPOa $POUJO䝄B .BOUFOJNJFOUP
- 486. $POUJO䝄B UFOHBO QPDP BMDPIPM4J VUJMJ[B TPMVa DJPOFTDPOVOBMUPOJWFMEFBMDPIPMP EFUFSHFOUFT䜫DJEPTBMDBMJOPT FMDPMPS EFM DVFSP QPES䜷B EFTUF䜻JSTF P MB TVa QFSGJDJFQPES䜷BSBTHBSTF $VJEBEPEFMPTBTJFOUPTEFDVFSP 䳜 TQJSF FM BTJFOUP EF GPSNB QFSJ䜽EJDB QBSB FMJNJOBS FM QPMWP Z MB BSFOB EFM BTJFOUP 4F FWJUBS䜫 MB BCSBTJ䜽O P MPT EB䜻PTFOFMDVFSPZTFNBOUFOES䜫TV DBMJEBE 䳜 -JNQJF B NFOVEP MBT GVOEBT EF MPT BTJFOUPTEFDVFSPOBUVSBMDPOVOUSBa QPTFDPPTVBWF 䳜 -BVUJMJ[BDJ䜽OBEFDVBEBEFVOQSPEVDa UPQSPUFDUPSEFMDVFSPQVFEFFWJUBSMB BCSBTJ䜽OEFMBTGVOEBTZDPOUSJCVZFB DPOTFSWBSFMDPMPS TFH䝄SFTFEFMFFSMBTJOTUSVDDJPOFTZ Q䜽OHBTFFODPOUBDUPDPOVOFTQFDJBa MJTUBBMVUJMJ[BSQSPEVDUPTQSPUFDUPSFT PGVOEBTEFDVFSP 䳜 M DVFSP EF DPMPSFT CSJMMBOUFT CFJHF CFJHFDSFNB TFFOTVDJBG䜫DJMNFOUFZ TFWVFMWFN䜫TDMBSP-JNQJFMPTBTJFOa UPTDPOGSFDVFODJB 䳜 WJUFMJNQJBSMPTDPOVOUSBQPI䝄NFEP ZBRVFMBTVQFSGJDJFEFMPTBTJFOUPTTF QPES䜷BBHSJFUBS -JNQJF[BEFMPTBTJFOUPTEFDVFSP 䳜 MJNJOFUPEBTMBTTVTUBODJBTRVFQVFa EFO QSPWPDBS NBODIBT JONFEJBUBa NFOUF$POTVMUFMBTJOTUSVDDJPOFTRVF TF QSPQPSDJPOBO B DPOUJOVBDJ䜽O QBSB MB FMJNJOBDJ䜽O EF DBEB TVTUBODJB RVF QVFEFQSPWPDBSNBODIBT 䳜 1SPEVDUPT DPTN䜳UJDPT QSPUFDUPS TPa MBS NBRVJMMBKF FUD QMJRVF DSFNB MJNQJBEPSB FO VO USBQP Z MJNQJF MB [POB RVF TF IB FOTVDJBEPMJNJOFMBDSFNBDPOVO USBQPI䝄NFEPZSFUJSFFMBHVBDPO VOUSBQPTFDP 䳜 #FCJEBT DBG䜳 SFGSFTDPT FUD QMJRVF VOB QFRVF䜻B DBOUJEBE EF EFUFSHFOUF OFVUSP Z MJNQJF IBTUB RVFFMM䜷RVJEPEFKFEFNBODIBS 䳜 DFJUF 3FUJSF FM BDFJUF JONFEJBUBNFOUF DPO VO USBQP BCTPSCFOUF Z MJNQJF DPOVOQSPEVDUPBOUJNBODIBTFTa QFD䜷GJDPQBSBDVFSPOBUVSBM 䳜 $IJDMF OEVSF[DBFMDIJDMFDPOIJFMPZSFU䜷a SFMPEFGPSNBHSBEVBM .FEJEBTEFQSFDBVDJ䜽OBMVUJMJ[BSMB GVOEBEFMBTJFOUPEFUFMB 4JFTU䜫 FRVJQBEP -JNQJF MPT BTJFOUPT EF UFMB QFSJ䜽EJDBa NFOUF DPO VO BTQJSBEPS UFOJFOEP FO DVFOUB MBT DBSBDUFS䜷TUJDBT EFM UFKJEP 4J FTU䜫ONVZTVDJPTDPONBODIBTEFCFCJa EBT FUD VUJMJDFVOQSPEVDUPEFMJNQJF[B BEFDVBEP QBSB FM JOUFSJPS 1BSB FWJUBS EB䜻BS MBT GVOEBT EF MPT BTJFOUPT M䜷Na QJFMBT IBTUB MBT DPTUVSBT DPO VOB FTa QPOKB TVBWF P VO QB䜻P EF NJDSPGJCSB SFBMJ[BOEPVONPWJNJFOUPBNQMJPZS䜫a QJEP Z FKFSDJFOEP VOB QSFTJ䜽O NPEFSBa EB -PTDJFSSFTEFWFMDSPEFMBSPQBPMPTPCa KFUPTQVO[BOUFTQVFEFOQSPWPDBSSPUVa SBT P BSB䜻B[PT FO MB TVQFSGJDJF EF MPT BTJFOUPTTFH䝄SFTFEFOPGSPUBSFTUPT PCKFUPTDPOUSBMBTVQFSGJDJF -JNQJF[BEFMBUBQJDFS䜷BZFM HVBSOFDJEPJOUFSJPS 7JOJMP 3FUJSFFMQPMWPZMBTVDJFEBETVFMUBEFM WJOJMP DPO VOB FTDPCJMMB P VO BTQJSBEPS -JNQJF MBT TVQFSGJDJFT EF WJOJMP DPO VO MJNQJBEPSEFWJOJMP .BOUFOJNJFOUP
- 487. 5 5FMB 3FUJSFFMQPMWPZMBTVDJFEBETVFMUBEFMB UFMBDPOVOBFTDPCJMMBPBTQJSBEPS6UJMJa DF VOB TPMVDJ䜽OEF KBC䜽O OFVUSP SFDPa NFOEBEB QBSB UBQJDFS䜷BT Z BMGPNCSBT -JNQJF FO TFHVJEB MBT NBODIBT DPO VO RVJUBNBODIBTQBSBUFKJEPT4JOPMJNQJB MBTNBODIBTEFJONFEJBUP MBUFMBQVFEF RVFEBSNBODIBEBPQFSEFSFMDPMPSTJa NJTNP TVDVBMJEBEJHO䜷GVHBQVFEFWFSa TFEJTNJOVJEBTJFMNBUFSJBMOPTFDVJEB EFGPSNBDPSSFDUB 5/$*䜝/ 6UJMJ[BS QSPEVDUPT OP SFDPNFOEBEPT PMJNQJBSEFGPSNBJOBQSPQJBEBBGFDa UBS䜫FMBTQFDUPFYUFSJPSEFMBUFMBZ TVTQSPQJFEBEFTJHO䜷GVHBT -JNQJF[BEFMBDJODIBEFMDJOUVS䜽O BCEPNJOBMIPNCSP -JNQJFMBDJODIBEFMDJOUVS䜽OEFTFHVSJa EBE DPO VOB TPMVDJ䜽O EF KBC䜽O OFVUSP FTQFDJBMQBSBUBQJDFS䜷BTZBMGPNCSBT4Ja HB MBT JOTUSVDDJPOFT RVF WJFOFO DPO FM KBC䜽O/PVUJMJDFMFK䜷BOJWVFMWBBUF䜻JSMB DJODIB ZBRVFQPES䜷BEFCJMJUBSMB -JNQJF[BEFMJOUFSJPSEFMBMVOBEF MBTWFOUBOJMMBT 4JMBTVQFSGJDJFJOUFSJPSEFMBTMVOBTEFM WFI䜷DVMP TF FNQB䜻B FT EFDJS TF DVCSF EFVOBQFM䜷DVMBEFDFSB HSBTBPBDFJUF M䜷NQJFMB DPO VO MJNQJBDSJTUBMFT 4JHB MBT JOTUSVDDJPOFT RVF WJFOFO DPO FM MJNQJBa DSJTUBMFT 5/$*䜝/ /PBSB䜻FPSBZFFMJOUFSJPSEFMBWFOa UBOBUSBTFSBTUPEB䜻BS䜷BFMEFTFNa QB䜻BEPSEFMBMVOBUSBTFSB .BOUFOJNJFOUP
- 488. 4 4*45.%$0/530-%.*4*0/4 4*45䜋26*1%0 M TJTUFNBEF DPOUSPM EF FNJTJPOFT EFM WFI䜷DVMPFTU䜫DVCJFSUPQPSVOBHBSBOU䜷B MJNJUBEB QPS FTDSJUP $POTVMUF MB JOGPSa NBDJ䜽O TPCSF MB HBSBOU䜷B JODMVJEB FO FM 1BTBQPSUFEFTFSWJDJPEFTVWFI䜷DVMP 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOTJTUFa NBEFDPOUSPMEFFNJTJPOFTRVFDVNQMF DPO UPEBT MBT OPSNBUJWBT EF FNJTJ䜽O BQMJDBCMFT YJTUFOUSFTUJQPTEFDPOUSPMEFFNJTJ䜽O 4JTUFNB EF DPOUSPM EF FNJTJ䜽O EFM D䜫SUFS 4JTUFNBEFDPOUSPMEFFNJTJ䜽OFWBa QPSBUJWB 4JTUFNB EF DPOUSPM EF FNJTJ䜽O EF FTDBQF 1BSB HBSBOUJ[BS FM GVODJPOBNJFOUP DPa SSFDUP EF MPT TJTUFNBT EF DPOUSPM EF FNJTJPOFT MMFWF FM WFI䜷DVMP B VO UBMMFS QSPGFTJPOBM QBSB RVF MP JOTQFDDJPOFO Z SFBMJDFO FM NBOUFOJNJFOUP EF BDVFSEP DPOFMDBMFOEBSJPEFNBOUFOJNJFOUPEF FTUFNBOVBM,JBSFDPNJFOEBWJTJUBSVO DFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVa UPSJ[BEP 1SFDBVDJPOFTQBSBMBQSVFCBEFJOTQFDa DJ䜽O Z NBOUFOJNJFOUP DPO TJTUFNB EF DPOUSPMFMFDUS䜽OJDPEFFTUBCJMJEBE 4$ 䳜 1 1BSBJNQFEJSRVFFMWFI䜷DVMPGBMMFEVa SBOUF MB QSVFCB EFM EJOBN䜽NFUSP BQBHVFFMTJTUFNBEFDPOUSPMFMFDUS䜽a OJDP EF FTUBCJMJEBE 4$ QVMTBOEP FM JOUFSSVQUPS4$ 䳜 5 5SBTDPNQMFUBSMBQSVFCBEFMEJOBN䜽a NFUSP WVFMWB B FODFOEFS FM TJTUFNB 4$ QSFTJPOBOEP EF OVFWP FM JOUFa SSVQUPS4$ 4JTUFNBEFDPOUSPMEFFNJTJ䜽O EFMD䜫SUFS M TJTUFNB EF WFOUJMBDJ䜽O QPTJUJWB EFM D䜫SUFSTFFNQMFBQBSBJNQFEJSMBDPOUBa NJOBDJ䜽OEFMBJSFDBVTBEBQPSMPTHBTFT EFFYQBOTJ䜽OFNJUJEPTQPSFMD䜫SUFSTa UF TJTUFNB QSPQPSDJPOB BJSF GSFTDP GJMa USBEPBMD䜫SUFSBUSBW䜳TEFMDPOEVDUPEF BJSFEFBENJTJ䜽OOFMJOUFSJPSEFMD䜫Sa UFS FMBJSFGSFTDPTFNF[DMBDPOMPTHBa TFTEFFYQBOTJ䜽ORVFTFJOUSPEVDFOFO FM TJTUFNB EF JOEVDDJ䜽O B USBW䜳T EF MB W䜫MWVMB1$7 4JTUFNBEFDPOUSPMEFFNJTJ䜽O FWBQPSBUJWB MTJTUFNBEFDPOUSPMEFFNJTJ䜽OFWBQPa SBUJWB FTU䜫 EJTF䜻BEP QBSB JNQFEJS RVF MPT WBQPSFT EFM DPNCVTUJCMF FTDBQFO B MBBUN䜽TGFSB $䜫OJTUFS MD䜫OJTUFSBCTPSCFZBMNBDFOBMPTWBa QPSFT EFM DPNCVTUJCMF HFOFSBEPT EFOa USPEFMEFQ䜽TJUPEFDPNCVTUJCMF$VBOEP FM NPUPS FTU䜫 FO NBSDIB MPT WBQPSFT BCTPSCJEPTQPSFMD䜫OJTUFSFOUSBOFOFM DPMFDUPSBUSBW䜳TEFMBW䜫MWVMBTPMFOPJEF EFDPOUSPMEFQVSHB 7䜫MWVMBTPMFOPJEFEFDPOUSPMEF QVSHB 1$47 -BW䜫MWVMBTPMFOPJEFEFDPOUSPMEFQVSHB FTU䜫 DPOUSPMBEB QPS FM N䜽EVMP EF DPOa USPMEFMNPUPS $. $VBOEPMBUFNQFa SBUVSBEFMSFGSJHFSBOUFEFMNPUPSFTCBa KBEVSBOUFFMSBMFOU䜷 MBW䜫MWVMB1$47TF DJFSSBQBSBRVFFMDPNCVTUJCMFFWBQPSBa EPOPQFOFUSFFOFMNPUPS5SBTFMDBa MFOUBNJFOUP EFM NPUPS EVSBOUF MB DPOa EVDDJ䜽OOPSNBM MBW䜫MWVMB1$47TFBCSF QBSBJOUSPEVDJSFMDPNCVTUJCMFFWBQPSBa EPFOFMNPUPS 4JTUFNBEFDPOUSPMEFFNJTJ䜽O EFFTDBQF MTJTUFNBEFDPOUSPMEFFNJTJ䜽OEFFTa DBQFFTVOTJTUFNBBMUBNFOUFFGFDUJWP RVFDPOUSPMBMBTFNJTJPOFTEFFTDBQFB MBWF[RVFNBOUJFOFFMSFOEJNJFOUPEFM WFI䜷DVMPFOCVFOFTUBEP .BOUFOJNJFOUP
- 489. . .PEJGJDBDJPOFTEFMWFI䜷DVMP M WFI䜷DVMP OPEFCFS䜷B NPEJGJDBSTF $VBMRVJFS NPEJGJDBDJ䜽O FO FM WFI䜷DVMP BGFDUBS䜷BEFGPSNBOFHBUJWBBTVSFOEJa NJFOUP TFHVSJEBEZEVSBCJMJEBE*ODMVTP TFQPES䜷BMMFHBSBWJPMBSMBTOPSNBUJWBT EFTFHVSJEBEZFNJTJ䜽OFTUBUBMFT EFN䜫T MBT BWFS䜷BT P EB䜻PT RVF TFBO SFTVMUBEP EF DVBMRVJFS NPEJGJDBDJ䜽O OP FTUBS䜫ODVCJFSUBTQPSMBHBSBOU䜷B 䳜 4JVTBEJTQPTJUJWPTFMFDUS䜽OJDPTOPBVa UPSJ[BEPT QPES䜷B DBVTBS MB PQFSBDJ䜽O BOPSNBMEFMWFI䜷DVMP EB䜻PTFOMPTDBa CMFT EFTDBSHB EF MB CBUFS䜷B P VO JOa DFOEJP1PSNPUJWPTEFTFHVSJEBE OP VUJMJDFEJTQPTJUJWPTFMFDUS䜽OJDPTOPBVa UPSJ[BEPT 1SFDBVDJPOFTBDFSDBEFMHBTEF FTDBQFEFMNPUPS NPO䜽YJEPEF DBSCPOP 䳜 MNPO䜽YJEPEFDBSCPOPQVFEFFTUBS QSFTFOUF KVOUP DPO PUSPT IVNPT EF FTDBQF1PSUBOUP TJIVFMFIVNPTEF FTDBQF EF DVBMRVJFS DMBTF EFOUSP EFM WFI䜷DVMP I䜫HBMP SFWJTBS Z SFQBSBS EF JONFEJBUP 4J BMHVOB WF[ TPTQFDIB RVFMPTIVNPTEFFTDBQFTFJOUSPEVa DFOEFOUSPEFMWFI䜷DVMP DPOEV[DBDPO MBT WFOUBOJMMBT UPUBMNFOUF BCJFSUBT )BHBSFWJTBSZSFQBSBSFMWFI䜷DVMPEF JONFEJBUP %735/$* TDBQF -PTHBTFTEFFTDBQFEFMNPUPSDPOa UJFOFONPO䜽YJEPEFDBSCPOP $0 QFTBS EF TFS JODPMPSP F JOPEPSP FT QFMJHSPTP Z TV JOIBMBDJ䜽O QVFEF TFS MFUBM 4JHB MBT JOTUSVDDJPOFT EF FTUB Q䜫HJOBQBSBFWJUBSFMFOWFOFOBNJFOa UPQPSHBT$0 䳜 /PQPOHBFONBSDIBFMNPUPSFOTJa UJPT SFEVDJEPT P DFSSBEPT DPNP VO HBSBKF N䜫TUJFNQPEFMRVFFTOFDFa TBSJPQBSBJOUSPEVDJSPSFUJSBSFMWFI䜷a DVMPEFMB[POB 䳜 4JFMWFI䜷DVMPFTU䜫QBSBEPDPOFMNPa UPS FO NBSDIB FO VOB [POB BCJFSUB EVSBOUF VO MBSHP QFSJPEP BKVTUF FM TJTUFNBEFWFOUJMBDJ䜽O FODBTPOFDFa TBSJP QBSBRVFFMBJSFGSFTDPMMFHVFBM JOUFSJPSEFMDPDIF 䳜 /VODBTFTJFOUFFOVOWFI䜷DVMPFTUBa DJPOBEP P QBSBEP EVSBOUF VO MBSHP QFSJPEP EF UJFNQP DPO FM NPUPS FO NBSDIB 䳜 4JFMNPUPSTFDBMBPGBMMBBMBSSBODBS JOUFOUBSMP FODFOEFS NVDIBT WFDFT QVFEF DBVTBS EB䜻PT BM TJTUFNB EF DPOUSPMEFFNJTJ䜽O 1SFDBVDJPOFTEFGVODJPOBNJFOUP QBSBFMDPOWFSUJEPSDBUBM䜷UJDP TJ FTU䜫FRVJQBEP %735/$* *ODFOEJP 䳜 6O TJTUFNB EF FTDBQF DBMJFOUF QVFEF QSFOEFS GVFHP B FMFNFOUPT JOGMBNBCMFTEFCBKPEFMWFI䜷DVMP/P FTUBDJPOFFMWFI䜷DVMPFOMBDFSDBO䜷B EFPCKFUPTJOGMBNBCMFT DPNPIJFSa CB WFHFUBDJ䜽O QBQFM IPKBT FUD 䳜 MTJTUFNBEFFTDBQFZFMTJTUFNB EFM DBUBMJ[BEPS FTU䜫O NVZ DBMJFOa UFT DPO FM NPUPS FO NBSDIB P JOa NFEJBUBNFOUFEFTQV䜳TEFQBSBSMP .BOU䜳OHBTFBMFKBEPEFMTJTUFNBEF FTDBQFZEFMDBUBMJ[BEPS EFMPDPOa USBSJPQPES䜷BRVFNBSTF TJNJTNP OPSFUJSFFMEJTJQBEPSEF DBMPSBMSFEFEPSEFMTJTUFNBEFFTa DBQF OPTFMMFMBQBSUF JOGFSJPSEFM WFI䜷DVMP Z OP SFDVCSB FM WFI䜷DVMP QBSB FM DPOUSPM EF DPSSPTJ䜽O MMP SFQSFTFOUBS䜷B VO SJFTHP EF JODFOa EJPTFODPOEJDJPOFTEFUFSNJOBEBT .BOUFOJNJFOUP
- 490. 4VWFI䜷DVMPFTU䜫FRVJQBEPDPOVOEJTQPa TJUJWPEFDPOUSPMEFFNJTJPOFTEFMDPOa WFSUJEPSDBUBM䜷UJDP 1PSFMMP UFOHBFODVFOUBMBTTJHVJFOUFT JOEJDBDJPOFT 䳜 TFH䝄SFTFEFSFQPTUBSFMWFI䜷DVMPTFa H䝄OMPT 䳖3FRVJTJUPT EF DPNCVTUJCMF䳗 FOMBQ䜫HJOB 䳜 /PQPOHBFOGVODJPOBNJFOUPFMWFI䜷a DVMPDVBOEPFYJTUBOTJHOPTEFGVODJPa OBNJFOUP JODPSSFDUP EFM NPUPS UBMFT DPNPBWFS䜷BPQ䜳SEJEBOPUBCMFEFSFOa EJNJFOUP 䳜 /P BCVTF OJ VUJMJDF JOEFCJEBNFOUF FM NPUPS#BKBSQFOEJFOUFTQSPOVODJBEBT DPO FM NPUPS BQBHBEP P TJO OJOHVOB NBSDIB FOHSBOBEB TPO FKFNQMPT EF VOVTPJOBEFDVBEPEFMNPUPS 䳜 /PQPOHBFMNPUPSBVOBHSBOWFMPDJa EBE EF SBMFOU䜷 EVSBOUF QFSJPEPT EF UJFNQP QSPMPOHBEPT NJOVUPT P N䜫T 䳜 /P NPEJGJRVF OJ NBOJQVMF OJOHVOB QJF[B EFM NPUPS OJ EFM TJTUFNB EF DPOUSPM EF FNJTJPOFT 5PEBT MBT JOTa QFDDJPOFT Z UPEPT MPT BKVTUFT TF EFa CFO MMFWBS B DBCP FO VO UBMMFS QSPGFa TJPOBM,JBSFDPNJFOEBWJTJUBSVODFOa USPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPa SJ[BEP 䳜 WJUF DPOEVDJS DPO VO OJWFM EF DPNa CVTUJCMFFYDFTJWBNFOUFCBKP-BGBMUB EF DPNCVTUJCMF QPES䜷B IBDFS RVF FM NPUPSGBMMBTF EB䜻BOEPFMDPOWFSUJEPS DBUBM䜷UJDP 4J OP UJFOF FO DVFOUB FTUBT QSFDBVDJPa OFT FT QSPCBCMF RVF EB䜻F FM DPOWFSUJa EPSDBUBM䜷UJDPPFMWFI䜷DVMP EFN䜫T EJDIBTBDDJPOFTQPES䜷BOBOVMBS MBHBSBOU䜷B .BOUFOJNJFOUP
- 491. .PUPS %JNFOTJPOFT 7BUJPTEFMBCPNCJMMB /FVN䜫UJDPTZSVFEBT 1FTP7PMVNFO 4JTUFNBEFMBJSFBDPOEJDJPOBEP -VCSJDBOUFTZDBOUJEBEFTSFDPNFOEBEPT /䝄NFSPEFWJTDPTJEBE4SFDPNFOEBEP /䝄NFSPEFJEFOUJGJDBDJ䜽OEFMWFI䜷DVMP 7*/ UJRVFUB7*/ UJRVFUBEFDFSUJGJDBDJ䜽OEFMWFI䜷DVMP UJRVFUBEFMBQSFTJ䜽OZMBTFTQFDJGJDBDJPOFTEFMPT OFVN䜫UJDPT /䝄NFSPEFMNPUPS UJRVFUBEFMDPNQSFTPSEFMBJSFBDPOEJDJPOBEP UJRVFUBEFSFGSJHFSBOUF %FDMBSBDJ䜽OEFDPOGPSNJEBE TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 492. . .0503 MFNFOUP (BTPMJOB (BTPMJOB %FTQMB[BNJFOUP DD $JMJOESPYDBSSFSB Y Y Y NN 0SEFOEFFODFOEJEP /䛺EFDJMJOESPT FOM䜷OFB TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 493. % %*./4*0/4 MFNFOUP NN -POHJUVEUPUBM ODIVSBUPUBM MUVSBUPUBM 1BSBVSPQB YDFQUPVSPQB #BOEBEFSPEBEVSBEFMBOUFSB 1BSBVSPa QB 3 3 3 3 YDFQUP VSPQB 3 3 3 #BOEBEFSPEBEVSBUSBTFSB 1BSBVSPa QB 3 3 3 3 YDFQUP VSPQB 3 3 3 #BTFEFMBSVFEB TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 494. 7 75*04%-#0.#*-- #PNCJMMB 7BUJPT 5JQPEFCPNCJMMB %Fa MBOUFa SP 'BSP #BKP Ta U䜫Oa EBS 8)-- 0Qa DJPa OBM 8 )- MUP Ta U䜫Oa EBS 8 )-- 0Qa DJPa OBM 8 )- -V[EFDPOEVDDJ䜽OEJVSOB 8P-% 18--P-% -V[EFQPTJDJ䜽O 8P-% 88--P-% -V[EFMJOUFSNJUFOUF 8P-% 1:8--P-% -V[BOUJOJFCMBEFMBOUFSB 8 )# 4JFTU䜫FRVJQBEP TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 495. # #PNCJMMB 7BUJPT 5JQPEFCPNCJMMB 5SBa TFSP 1JMPUPUSBTFSP YUFa SJPS 8P-%18-- 88--P-% -V[EFGSFOP YUFa SJPS 8P-% 18--P-% -V[EFMJOUFSNJUFOUF 8 1:8-- 1JMPUPEFNBSDIBBUS䜫T 8 88 -V[BOUJOJFCMBUSBTFSB 8 18-- 5FSDFSBMV[EFMGSFOP 8Y 88-- -V[EFMBNBUS䜷DVMB 8Y 88-- *OUFa SJPS -VDFTEFMFDUVSB 8Y 88 -V[EFMIBCJU䜫DVMP 8 '450/ -V[EFMNBMFUFSP 8 '450/ -V[EFMBHVBOUFSB 8 '450/ -VDFTEFMFTQFKPEFDPSUFT䜷B 8 '450/ 4JFTU䜫FRVJQBEP TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 496. / /6.䜋5*$04:36%4 1BSBVSPQB MFNFOa UP 5BNB䜻P EFMPT OFVN䜫UJa DPT 5BNB䜻P EFMB SVFEB $BQBDJEBEEFDBSHB $BQBDJEBEEFWFMPa DJEBE 1SFTJ䜽OEFJOGMBEPCBS L1B QSJFUF EFMB UVFSDB EFMUBDP EFMB SVFEB ,HG䜁N /䜁N $BSHBOPSNBM $BSHBN䜫YJNB -* ,H 44 ,NI %FMBOUFa SP 5SBTFSP %FMBOUFa SP 5SBTFSP /FVN䜫a UJDP EF UBNB䜻P DPNQMFUP 3 +Y 5 _ _ 3 +Y 5 DP 1BDL DP 1BDL DP 1BDL DP 1BDL 3 +9 ) 3 +Y 7 /FVN䜫a UJDP EF SFQVFTUP DPNQBDa UP 5 % +Y . 䜗OEJDFEFDBSHB 4䜷NCPMPEFWFMPDJEBE TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 497. YDFQUPVSPQB MFNFOa UP 5BNB䜻P EFMPT OFVN䜫UJa DPT 5BNB䜻P EFMB SVFEB $BQBDJEBEEFDBSHB $BQBDJEBEEFWFMPa DJEBE 1SFTJ䜽OEFJOGMBEPCBS L1B QSJFUF EFMB UVFSDB EFMUBDP EFMB SVFEB ,HG䜁N /䜁N $BSHBOPSNBM $BSHBN䜫YJNB -* ,H 44 ,NI %FMBOUFa SP 5SBTFSP %FMBOUFa SP 5SBTFSP /FVN䜫a UJDP EF UBNB䜻P DPNQMFUP 3 +Y 5 _ _ 3 +Y 5 3 +Y ) /FVN䜫a UJDP EF SFQVFTUP DPNQBDa UP 5 % +Y . 䜗OEJDFEFDBSHB 4䜷NCPMPEFWFMPDJEBE TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 498. / /05 䳜 3FDPNFOEBNPTRVFBMDBNCJBSMPTOFVN䜫UJDPT VTFFMNJTNPUBNB䜻PRVFMPTOFVN䜫UJDPTPSJHJOBMFTTVNJOJTUSBEPTDPOFM WFI䜷DVMP ODBTPDPOUSBSJPQPES䜷BBGFDUBSBMSFOEJNJFOUPEFDPOEVDDJ䜽O 䳜 $VBOEPDPOEV[DBBBMUBBMUJUVE FTOPSNBMRVFMBQSFTJ䜽OBUNPTG䜳SJDBEJTNJOVZB1PSUBOUP DPNQSVFCFMBQSFTJ䜽OEFMPT OFVN䜫UJDPTZB䜻BEBN䜫TBJSFDVBOEPTFBOFDFTBSJP 1SFTJ䜽OEFBJSFEFMPTOFVN䜫UJDPTOFDFTBSJBBEJDJPOBMQPSLNFODJNBEFMOJWFMEFMNBS QTJLN 5/$*䜝/ MDBNCJBSMPTOFVN䜫UJDPT VTFFMNJTNPUBNB䜻PRVFMPTOFVN䜫UJDPTPSJHJOBMFTTVNJOJTUSBEPTDPOFMWFI䜷DVMP ODBTPEFVTBSOFVN䜫UJDPTEFEJTUJOUPUBNB䜻PQPES䜷BOEB䜻BSTFMBTQJF[BTSFMBDJPOBEBTPGVODJPOBSEFGPSNBJSSFHVMBS TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 499. 1 14070-6./ MFNFOUP (BTPMJOB DP QBDL (BTPMJOB(BTPa MJOB 5(%* (BTPMJOB 1FTPCSVUPEFMWFI䜷DVMP 1BSBVSPQB LH YDFQUPVSPQB 7PMVNFOEFMNBMFUFSP .䜗/ M .䜋9 TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 500. 4 4*45.%-*3$0/%*$*0/%0 -./50 1FTPEFMWPMVNFO $MBTJGJDBDJ䜽O 3FGSJHFSBOUF䛻H 3ZG 3B -VCSJDBOUFEFMDPNQSFTPS 䛻H 1䜋( 1䜽OHBTFFODPOUBDUPDPOVOUBMMFSQSPGFTJPOBMQBSBPCUFOFSN䜫TJOGPSNBDJ䜽O ,JBSFDPNJFOEBQPOFSTFFODPOUBDUPDPOVODFOUSPEFTFSWJDJPEJTUSJCVJEPS,JBBVUPSJ[BEP TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 501. - -6#3*$/54:$/5*%%43$0./%%04 1BSBMPHSBSVOCVFOSFOEJNJFOUPZEVSBCJMJEBEEFMUSFOEFQPUFODJBZEFMNPUPS VUJMJDFT䜽MPMVCSJDBOUFTEFDBMJEBEBEFDVBEB -PTMVCSJDBOUFTBEFDVBEPTOPTPMPBZVEBOBGPNFOUBSMBFGJDBDJBEFMNPUPSTJOPUBNCJ䜳OBMBIPSSPEFMDPNCVTUJCMF 4FSFDPNJFOEBOFTUPTMVCSJDBOUFTZM䜷RVJEPTQBSBTVWFI䜷DVMP -VCSJDBOUF 7PMVNFO$MBTJGJDBDJ䜽O DFJUF EF NPUPS ESFOBKFZMMFOBEP 3FDPNFOEBDJPOFT 5(%* M 1*4/Z$$ .1*''7 .1* .1*''7 M .1* M 13-*/%* 03*/a 5.%*0 *3䜋/ -*#* 3(-* 46%䜋/ .a 336$04 5䜤/;: (*150 1*TFSWJDF4. *-4$ ('PTVQFSJPS $ # 9$150/-041䜗a 44/53*034 1*4/ $$ -䜷RVJEP EF MB USBOTNJa TJ䜽ONBOVBM 5(%* _ M 1*4FSWJDF(-48 ),4:/.5'8 41*394().8.5' (4.5')%8 .1* .1* _ M -䜷RVJEP EF MB USBOTNJa TJ䜽OBVUPN䜫UJDB .1* M 5'41*** TFSFDPNJFOEB%*.0/% 4, .1* M 5'41*** TFSFDPNJFOEB%*.0/% 4, 3FGSJHFSBOUF 5(%* M .F[DMBEFBOUJDPOHFMBOUFZBHVB SFGSJHFSBOUFB CBTFEFFUJMFOHMJDPMQBSBSBEJBEPSEFBMVNJOJP .1* M .1* M 7䜳BTFFMO䝄NFSPEFWJTDPTJEBE4SFDPNFOEBEPFOMBQ䜫HJOBTJHVJFOUF IPSBFTU䜫OEJTQPOJCMFTFMBDFJUFEFNPUPSFUJRVFUBEPTOFSHZ$POTFSWJOH0JMEFN䜫TEFPUSPTCFOFGJDJPT DPOUSJCVZFOBM BIPSSPEFMDPNCVTUJCMFSFEVDJFOEPMBDBOUJEBEEFDPNCVTUJCMFOFDFTBSJPQBSBSFEVDJSFMSP[BNJFOUPEFMNPUPSNFOVEP FTa UBTNFKPSBTOPTPOWJTJCMFTFOMBDPOEVDDJ䜽OEJBSJB QFSPBMDBCPEFVOB䜻P QVFEFOTJHOJGJDBSVOBIPSSPJNQPSUBOUFEFDPTUFT ZFOFSH䜷B TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 502. - -VCSJDBOUF 7PMVNFO $MBTJGJDBDJ䜽O -䜷RVJEPEFGSFOPTFNCSBHVF _ M '.744%05P%05 $PNCVTUJCMF M $PNCVTUJCMF ''7 %FQ䜽TJUPEFHBTPMJOB M MDPIPM M 7䜳BTFFMO䝄NFSPEFWJTDPTJEBE4SFDPNFOEBEPFOMBQ䜫HJOBTJHVJFOUF IPSBFTU䜫OEJTQPOJCMFTFMBDFJUFEFNPUPSFUJRVFUBEPTOFSHZ$POTFSWJOH0JMEFN䜫TEFPUSPTCFOFGJDJPT DPOUSJCVZFOBM BIPSSPEFMDPNCVTUJCMFSFEVDJFOEPMBDBOUJEBEEFDPNCVTUJCMFOFDFTBSJPQBSBSFEVDJSFMSP[BNJFOUPEFMNPUPSNFOVEP FTa UBTNFKPSBTOPTPOWJTJCMFTFOMBDPOEVDDJ䜽OEJBSJB QFSPBMDBCPEFVOB䜻P QVFEFOTJHOJGJDBSVOBIPSSPJNQPSUBOUFEFDPTUFT ZFOFSH䜷B /䝄NFSPEFWJTDPTJEBE4SFDPNFOEBEP 5/$*䜝/ TFH䝄SFTFTJFNQSFEFMJNQJBSFM䜫SFBDJSDVOEBOUFEFDVBMRVJFSUBQ䜽OEFMMFOBEP ESFOBKFPWBSJMMBBOUFTEFDPNQSPCBSPESFa OBSFMMVCSJDBOUFTUBBDDJ䜽OUJFOFFTQFDJBMJNQPSUBODJBFO[POBTQPMWPSJFOUBTPBSFOPTBTPDVBOEPFMWFI䜷DVMPTFVUJMJ[BFO DBSSFUFSBTOPQBWJNFOUBEBT-JNQJBSMBT䜫SFBTDFSDBOBTBUBQPOFTPWBSJMMBTBZVEBS䜫BJNQFEJSRVFQBSU䜷DVMBTEFQPMWPP TVDJFEBEFOUSFOFOFMNPUPSVPUSPTNFDBOJTNPTZPDBTJPOFOEB䜻PT -BWJTDPTJEBE EFOTJEBE EFMBDFJUFEFMNPUPSUJFOFFGFDUPFOFMBIPSSPEFDPNCVTUJCMFZFOFMGVODJPOBNJFOUPFODPOEJDJPOFT BNCJFOUBMFTGS䜷BT BSSBORVFEFMNPUPSZGMVJEF[EFMBDFJUFEFMNPUPS 6OBWJTDPTJEBECBKBEFMBDFJUFEFMNPUPSQSPQPSDJPOBVO NFKPSBIPSSPEFDPNCVTUJCMFZVONFKPSSFOEJNJFOUPFODPOEJDJPOFTBNCJFOUBMFTGS䜷BTOPPCTUBOUF TFOFDFTJUBVOBWJTDPTJEBE BMUBQBSBDPOTFHVJSVOBMVCSJDBDJ䜽OTBUJTGBDUPSJBFODPOEJDJPOFTBNCJFOUBMFTEFDBMPSMVTPEFBDFJUFDPOWJTDPTJEBEEJGFSFOUF BMBSFDPNFOEBEBQPES䜷BPDBTJPOBSEB䜻PTBMNPUPS OFMNPNFOUPEFFMFHJSVOBDFJUF UFOHBFODVFOUBFMNBSHFOEFUFNQFSBUVSBFOFMRVFGVODJPOBS䜫FMWFI䜷DVMPBOUFTEFMQS䜽YJa NPDBNCJPEFBDFJUF1SPDFEBBTFMFDDJPOBSMBWJTDPTJEBEEFMBDFJUFSFDPNFOEBEBFOMBUBCMB TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 503.
- 504. / /䜤.30%*%/5*'*$$*䜝/%-7)䜗$6-0 7*/ MO䝄NFSPEFJEFOUJGJDBDJ䜽OEFMWFI䜷DVMP 7*/ FTFMO䝄NFSPVUJMJ[BEPBMSFHJTUSBS FMWFI䜷DVMPZFOUPEPTMPTBTVOUPTMFHBa MFTSFMBDJPOBEPTDPOTVQSPQJFEBEFUD MO䝄NFSPFTU䜫NBSDBEPFOFMQJTP EFa CBKPEFMBTJFOUPEFMMBEPEFSFDIP1BSB WFSFMO䝄NFSP SFUJSFMBDVCJFSUB UJRVFUB7*/ M7*/FTU䜫UBNCJ䜳OJOEJDBEPFOMBQMBDB EF MB QBSUF TVQFSJPS EFM TBMQJDBEFSP M O䝄NFSPEFMBQMBDBTFQVFEFWFSG䜫DJMa NFOUF EFTEF FM FYUFSJPS B USBW䜳T EFM QBSBCSJTBT TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 505. 5*265%$35*'*$$*䜝/%-7)䜗$6-0 4*45䜋26*1%0 -BFUJRVFUBEFDFSUJGJDBDJ䜽OEFMWFI䜷DVMP TJUVBEBFOMBDPMVNOBDFOUSBMFOFMMBEP EFM DPOEVDUPSP EFM BDPNQB䜻BOUF NVFTUSBFMO䝄NFSPEFJEFOUJGJDBDJ䜽OEFM WFI䜷DVMP 7*/ TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVa NJEPS
- 506. 5*265%-134*䜝/:-441$*'*$$*0/4%-04/6.䜋5*$04 -PTOFVN䜫UJDPTEFTVOVFWPWFI䜷DVMPTF IBOFMFHJEPQBSBPGSFDFSFMSFOEJNJFOUP 䜽QUJNPEVSBOUFMBDPOEVDDJ䜽OOPSNBM -BFUJRVFUBEFMOFVN䜫UJDPFOMBDPMVNa OBDFOUSBMEFMMBEPEFMDPOEVDUPSNVFTa USB MB QSFTJ䜽OEF MPT OFVN䜫UJDPT SFDPa NFOEBEBQBSBFMWFI䜷DVMP TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 507.
- 508. 5*265%-$0.13403%-*3$0/%*$*0/%0 -BFUJRVFUBEFMDPNQSFTPSJOEJDBFMUJQP EFDPNQSFTPSDPOFMRVFFTU䜫FRVJQBEP FMWFI䜷DVMP FMNPEFMP FMO䝄NFSPEFQJFa [BFMO䝄NFSPEFQSPEVDDJ䜽O FMSFGSJHFa SBOUF ZFMBDFJUFSFGSJHFSBOUF TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 509.
- 510. % %$-3$*䜝/%$0/'03.*%% -PT DPNQPOFOUFT EFGSFDVFODJB EF SBa EJPEFMWFI䜷DVMPDVNQMFOMPTSFRVJTJUPTZ EFN䜫T EJTQPTJDJPOFT SFMFWBOUFT EF MB %JSFDUJWB$ ODPOUSBS䜫 N䜫T JOGPSNBDJ䜽O JODMVZFOa EPMBEFDMBSBDJ䜽OEFDPOGPSNJEBEEFMGBa CSJDBOUF FOFMTJUJPXFCEF,JB IUUQXXXLJBIPUMJOFDPN TQFDJGJDBDJPOFTFJOGPSNBDJ䜽OBMDPOTVNJEPS
- 511. $ DDFTPTJOMMBWFDPOFMNBOEPBEJTUBODJB $BNCJPEFMBQJMB 'VODJPOFTEFMTJTUFNBEFBDDFTPTJOMMBWF DPOFMNBOEPBEJTUBODJB 1SFDBVDJPOFTEFMUSBOTNJTPS DFJUFEFNPUPS $BNCJPEFMBDFJUFEFNPUPSZFMGJMUSP $PNQSPCBDJ䜽OEFMOJWFMEFBDFJUFEFNPUPS DFJUFEFMNPUPS EWFSUFODJBFOMBDBSSFUFSB *OUFSSVQUPSEFMVDFTEFFNFSHFODJB JSCBH4JTUFNBEFTVKFDJ䜽OTVQMFNFOUBSJP JSCBHEFDPSUJOB JSCBHEFMBOUFSPEFMDPOEVDUPSZEFMBDPNa QB䜻BOUF JSCBHMBUFSBM $PNQPOFOUFTZGVODJPOFTEFM434 $VJEBEPEFM434 $䜽NPGVODJPOBFMTJTUFNBEFBJSCBHT UJRVFUBEFBEWFSUFODJBEFMBJSCBH 1SFDBVDJPOFTEFTFHVSJEBEBEJDJPOBMFT 5FTUJHPEFBEWFSUFODJBEFMBJSCBH MVNCSBEP %JTQPTJUJWPEFOJWFMBDJ䜽OEFMPTGBSPT 'VODJ䜽OEFBIPSSPEFCBUFS䜷B 'VODJ䜽OEFCJFOWFOJEBEFMPTGBSPT 'VODJ䜽OEFFTDPMUBEFMPTGBSPT -VDFTEJVSOBT OUFTEFJOJDJBSMBDPOEVDDJ䜽O OUFTEFBSSBODBS OUFTEFFOUSBSFOFMWFI䜷DVMP *OTQFDDJPOFTOFDFTBSJBT OUFTEFMBDPOEVDDJ䜽O SSBORVFEFFNFSHFODJB SSBORVFNFEJBOUFFNQVKF 1JO[BS TJFOUPT KVTUFEFMBTJFOUPEFMBOUFSP KVTUFEFMBTJFOUPUSBTFSP TJFOUPEFMDPOEVDUPS TJFOUPEFMQBTBKFSPEFMBOUFSP TJFOUPUSBTFSP #PMTJMMPEFMSFTQBMEP 3FQPTBDBCF[BT VEJP TJOQBOUBMMBU䜫DUJM % #BUFS䜷B UJRVFUBEFDBQBDJEBEEFMBCBUFS䜷B 1BSBVOGVODJPOBNJFOUP䜽QUJNPEFMBCBUFS䜷B 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 512. 3FDBSHBEFMBCBUFS䜷B 3FJOJDJPEFMPTFMFNFOUPT #MPRVFPEFMBTQVFSUBT #MPRVFPEFMBQVFSUBUSBTFSBDPOFMTFHVSP QBSBOJ䜻PT 4JTUFNBEFCMPRVFPEFMBTQVFSUBTQPSTFOa TPSEFWFMPDJEBE #MPRVFPTEFMBTQVFSUBT DDJPOBNJFOUPEFMPTCMPRVFPTEFMBTQVFSa UBTEFTEFFMFYUFSJPSEFMWFI䜷DVMP DDJPOBNJFOUPEFMPTCMPRVFPTEFMBTQVFSa UBTEFTEFFMJOUFSJPSEFMWFI䜷DVMP 4JTUFNBEFEFTCMPRVFPEFMBTQVFSUBTQPS EFUFDDJ䜽OEFJNQBDUP #PNCJMMBT #PNCJMMBEFMBMV[EFQPTJDJ䜽O EFMBOUFSB #PNCJMMBEFMBMV[EFQPTJDJ䜽O MBUFSBM #PNCJMMBEFMBMV[EFQPTJDJ䜽O USBTFSB $BNCJPEFMBCPNCJMMBEFMBMV[BOUJOJFCMB EFMBOUFSB $BNCJPEFMBCPNCJMMBEFMBMV[BOUJOJFCMB USBTFSB $BNCJPEFMBCPNCJMMBEFMBMV[EFMBHVBOUFSB $BNCJPEFMBCPNCJMMBEFMBMV[EFMBNBUS䜷DVMB $BNCJPEFMBCPNCJMMBEFMBMV[EFMFDUVSB $BNCJPEFMBCPNCJMMBEFMBMV[EFNBSDIBBUS䜫T $BNCJPEFMBCPNCJMMBEFMBMV[EFQPTJDJ䜽O GBSPUJQP $BNCJPEFMBCPNCJMMBEFMBMV[EFQPTJDJ䜽O %3- UJQP-% $BNCJPEFMBCPNCJMMBEFMBMV[EFMFTQFKPEF DPSUFT䜷B $BNCJPEFMBCPNCJMMBEFMBMV[EFMIBCJU䜫DVMP $BNCJPEFMBCPNCJMMBEFMBUFSDFSBMV[EFGSFOP $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBa SSFUFSBDSVDF GBSPUJQP $BNCJPEFMBCPNCJMMBEFMGBSP MVDFTEFDBa SSFUFSBDSVDF GBSPUJQP# $BNCJPEFMBCPNCJMMBEFMIBCJU䜫DVMPEFMQPSa U䜽OUSBTFSP $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFEFa MBOUFSP GBSPUJQP $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFEFa MBOUFSP UJQP-% $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFSFQFa UJEPSMBUFSBM UJQPCPNCJMMB $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFSFQFa UJEPSMBUFSBM UJQP-% $BNCJPEFMBCPNCJMMBEFMJOUFSNJUFOUFUSBTFSP $BNCJPEFMBCPNCJMMBEFMQJMPUPUSBTFSPZEF GSFOP $BNCJPEFMBCPNCJMMBEFMQJMPUPUSBTFSPZEF GSFOP UJQP-% $BNCJPEFMBCPNCJMMB%3- UJQPCPNCJMMB 0SJFOUBDJ䜽OEFMPTGBSPTZEFMBMV[BOUJOJFa CMBEFMBOUFSB QBSBVSPQB 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 513. 1SFDBVDJ䜽OBMDBNCJBSMBTCPNCJMMBT #PU䜽O/(*/45354501 JOJDJPQBSBEBEFM NPUPS SSBORVFEFMNPUPS #PU䜽O/(*/45354501JOJDJPQBSBEB EFMNPUPS JMVNJOBEP 1BSBEBEFMNPUPS 1PTJDJ䜽OEFMCPU䜽O/(*/45354501 JOJa DJPQBSBEBEFMNPUPS $BQ䜽 EWFSUFODJBEFMDBQ䜽BCJFSUP QFSUVSBEFMDBQ䜽 $JFSSFEFMDBQ䜽 $BSBDUFS䜷TUJDBTJOUFSJPSFT ODMBKF T EFMBBMGPNCSJMMBEFMTVFMP $BMFGBDDJ䜽OEFMBTJFOUP $FOJDFSP $PMHBEPSQBSBSPQB ODFOEFEPS (BODIPQBSBCPMTBT 1BSBTPM 1PSUBWBTPT 3FMPKEJHJUBM 5PNBEFDPSSJFOUF $JOUVSPOFTEFTFHVSJEBE $JOUVS䜽OEFTFHVSJEBEDPOQSFUFOTPS $VJEBEPEFMPTDJOUVSPOFTEFTFHVSJEBE 1SFDBVDJPOFTEFMDJOUVS䜽O 4JTUFNBEFTVKFDJ䜽OEFMDJOUVS䜽OEFTFHVSJEBE $PNPEJEBEEFFNFSHFODJB $PNQBSUJNFOUPEFMNPUPS $PNQBSUJNFOUPTEFBMNBDFOBNJFOUP 1MBDBEFMNBMFUFSP 4PQPSUFEFSFEEFMNBMFUFSP $PNQBSUJNFOUPTQBSBHVBSEBSPCKFUPT $PNQBSUJNFOUPFOMBDPOTPMBDFOUSBM $PNQBSUJNJFOUPQBSBHVBSEBSPCKFUPT $PNQBSUJNJFOUPTQBSBHVBSEBSPCKFUPT VNFOUPEFMFTQBDJPEFDBSHB (VBOUFSB $POEJDJPOFTFTQFDJBMFTEFDPOEVDDJ䜽O #BMBODFBSFMWFI䜷DVMP $POEJDJPOFTEFDPOEVDDJ䜽OQFMJHSPTBT $POEVDDJ䜽ODPOMMVWJB $POEVDDJ䜽OFO[POBTJOVOEBEBT $POEVDDJ䜽OGVFSBEFW䜷B $POEVDDJ䜽OQPSMBOPDIF $POEVDDJ䜽OQPSW䜷BTQ䝄CMJDBT 5PNBSDVSWBTEFNBOFSBTVBWF $POEVDDJ䜽OFOJOWJFSOP 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 514. $BNCJBSMBWJTDPTJEBEJOWFSOBMEFMBDFJUFTJ FTOFDFTBSJP $PNQSPCBSMBCBUFS䜷BZMPTDBCMFT $PNQSPCBSMBTCVK䜷BTZFMTJTUFNBEFFODFOEJEP $POOJFWFPIJFMP RVJQPEFBSSBTUSFEFFNFSHFODJB WJUFRVFMBOJFWFPFMIJFMPTFBDVNVMFOFO MPTCBKPTEFMWFI䜷DVMP /PQFSNJUBRVFFMGSFOPEFFTUBDJPOBNJFOUP TFDPOHFMF 1BSBNBOUFOFSMBTDFSSBEVSBTMJNQJBTEFIJFMP 6UJMJ[BSVOBOUJDPOHFMBOUFSFDPNFOEBEPQBa SBFMTJTUFNBEFMMJNQJBQBSBCSJTBT 6UJMJ[BSVOSFGSJHFSBOUFBCBTFEFFUJMFOHMJDPM EFBMUBDBMJEBE $POUSPMEFMUBCMFSPEFJOTUSVNFOUPT $POUSPMEFMBWFOUBOB-$% $VJEBEPEFMBTQFDUPFYUFSJPS $VJEBEPEFMFYUFSJPS $VJEBEPEFMJOUFSJPS $䜫NBSBEFWJTJ䜽OUSBTFSB $䜽NPVTBSFTUFNBOVBM ' %FDMBSBDJ䜽OEFDPOGPSNJEBE /5-QBSB#SBTJM $QBSB6 *'5- /$$QBSB5BJX䜫O %FTDPOHFMBSZEFTFNQB䜻BSFMQBSBCSJTBT -䜽HJDBEFEFTFNQB䜻BNJFOUP 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSBVUPN䜫UJDP 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSNBOVBM %FTFNQB䜻BEPS %FTFNQB䜻BEPSEFMBMVOBUSBTFSB %JNFOTJPOFT ( MFWBMVOBT MFWBMVOBTFM䜳DUSJDPT ODBTPEFFNFSHFODJBEVSBOUFMBDPOEVDDJ䜽O 4JFMNPUPSTFDBMBEVSBOUFMBDPOEVDDJ䜽O 4JFMNPUPSTFDBMBFOVODSVDFPFOVOBUSBWFT䜷B 4JVOOFVN䜫UJDPTFEFTJOGMBEVSBOUFMBDPOa EVDDJ䜽O ODBTPEFQJODIB[P DPOFMFRVJQPEFDBNCJP EFOFVN䜫UJDPTFODBSSFUFSB $PNQPOFOUFTEFMFRVJQPEFDBNCJPEFOFVa N䜫UJDPTFODBSSFUFSB 5., $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEFJOGMBEPEFMPT OFVN䜫UJDPT %BUPTU䜳DOJDPT 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 515. %JTUSJCVDJ䜽OEFMQSPEVDUPEFTFMMBEP *OUSPEVDDJ䜽O /PUBTBDFSDBEFMVTPTFHVSPEFMFRVJQPEF DBNCJPEFOFVN䜫UJDPTFODBSSFUFSB 6UJMJ[BDJ䜽OEFMFRVJQPEFDBNCJPEFOFVN䜫UJa DPTFODBSSFUFSB ODBTPEFQJODIB[PDPOVOBSVFEBEFSFQVFTUP $BNCJBSMBTSVFEBT $䜽NPFYUSBFSMBSVFEBEFSFQVFTUP %FDMBSBDJ䜽O$EFDPOGPSNJEBEQBSBHBUPT UJRVFUBEFMHBUP (BUPZIFSSBNJFOUBT ODBTPEFVOBFNFSHFODJBNJFOUSBTTFDPOEVDF RVJQBNJFOUPEFFNFSHFODJB YUJOUPS .BMFU䜷OEFQSJNFSPTBVYJMJPT .BO䜽NFUSPQBSBOFVN䜫UJDPT 5SJ䜫OHVMPSFGMFDUPS RVJQPEFBVEJP DPOQBOUBMMBU䜫DUJM $BSBDUFS䜷TUJDBTEFMFRVJQPEFBVEJP UJQP # # RVJQPEFBVEJP TJOQBOUBMMBU䜫DUJM $BSBDUFS䜷TUJDBTEFMFRVJQPEFBVEJP $POGJHVSBDJ䜽O 3BEJP 4PQPSUFT 5FM䜳GPOP TDPCJMMBTEFMMJNQJBQBSBCSJTBT $BNCJPEFMBTFTDPCJMMBT *OTQFDDJ䜽OEFMBTFTDPCJMMBT UJRVFUBEFDFSUJGJDBDJ䜽OEFMWFI䜷DVMP UJRVFUBEFMBQSFTJ䜽OZMBTFTQFDJGJDBDJPOFTEF MPTOFVN䜫UJDPT UJRVFUBEFSFGSJHFSBOUF UJRVFUBEFMDPNQSFTPSEFMBJSFBDPOEJDJPOBEP YQMJDBDJ䜽OEFMPTFMFNFOUPTEFMDBMFOEBSJPEF NBOUFOJNJFOUP ) 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS *OTQFDDJ䜽OEFMGJMUSP 'SFOBEBEFFNFSHFODJBBVU䜽OPNBEFUJQPSBEBS WFS䜷BEFMTJTUFNB $POGJHVSBDJ䜽OZBDUJWBDJ䜽OEFMTJTUFNB $POUSPMEFMTJTUFNBZNFOTBKFTEFBEWFSa UFODJBEF# 'VODJPOBNJFOUPEFMGSFOP -JNJUBDJ䜽OEFMTJTUFNB 4FOTPSQBSBEFUFDUBSMBEJTUBODJBEFMWFI䜷DVa MPRVFMPQSFDFEF SBEBSEFMBOUFSP 'SFOPEFFTUBDJPOBNJFOUP $PNQSPCBDJ䜽OEFMGSFOPEFFTUBDJPOBNJFOUP 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 516. 'VODJPOBNJFOUPFDPO䜽NJDP 'VTJCMFT $BNCJPEFGVTJCMFTFOFMQBOFMJOUFSJPS $BNCJPEFMGVTJCMFEFMDPNQBSUJNFOUPEFMNPUPS %FTDSJQDJ䜽OEFMQBOFMEFGVTJCMFTSFM䜳T / -JNQJBZMBWBQBSBCSJTBT #PRVJMMBU䜳SNJDBEFMMBWBQBSBCSJTBT *OUFSSVQUPSEFMMJNQJBZMBWBQBSBCSJTBTEFMB MVOBUSBTFSB -BWBQBSBCSJTBTEFMBOUFSP -JNQJBQBSBCSJTBT EFMBOUFSP -MBWFJOUFMJHFOUF 'VODJPOFTEFVOBMMBWFJOUFMJHFOUF 1SFDBVDJPOFTDPOMBMMBWFJOUFMJHFOUF -MBWFT 0QFSBDJPOFTEFMBMMBWF 3FHJTUSBSFMO䝄NFSPEFMBMMBWF 4JTUFNBJONPWJMJ[BEPS -VCSJDBOUFTZDBOUJEBEFTSFDPNFOEBEPT /䝄NFSPEFWJTDPTJEBE4SFDPNFOEBEP -VDFTJOUFSJPSFT -V[EFFTQFKPEFDPSUFT䜷B -VDFT $POUSPMEFMBJMVNJOBDJ䜽O 'VODJPOBNJFOUPEFMPTGBSPTEFMBTMVDFTEF DBSSFUFSB *OUFSNJUFOUFTFJOUFSNJUFOUFTEFDBNCJPEF DBSSJM -V[BOUJOJFCMBEFMBOUFSB -V[BOUJOJFCMBUSBTFSB -V[JOUFSJPS -V[EFMFDUVSB-V[EFMIBCJU䜫DVMP -V[EFMNBMFUFSP -䜷RVJEPEFFNCSBHVFGSFOPT $PNQSPCBDJ䜽OEFMOJWFMEFMM䜷RVJEPEFFNCSBa HVFGSFOPT -䜷RVJEPEFGSFOPTFNCSBHVF -䜷RVJEPEFMBUSBOTNJTJ䜽OBVUPN䜫UJDB -䜷RVJEPEFMMBWBQBSBCSJTBT $PNQSPCBDJ䜽OEFMOJWFMEFM䜷RVJEPMBWBQBSBCSJTBT -䜷RVJEPEFMUSBOTFKFBVUPN䜫UJDP $BNCJPEFMOJWFMEFM䜷RVJEPEFMUSBOTFKFBVUPa N䜫UJDP $PNQSPCBDJ䜽OEFMOJWFMEFM䜷RVJEPEFMUSBOTFa KFBVUPN䜫UJDP -䜷RVJEPMJNQJBQBSBCSJTBT 0 .BOUFOJNJFOUPQPSQBSUFEFMQSPQJFUBSJP 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 517. $BMFOEBSJPEFNBOUFOJNJFOUPQPSQBSUFEFM QSPQJFUBSJP .PUPS 1 /FVN䜫UJDPTZSVFEBT MJOFBNJFOUPEFMBTSVFEBTZFRVJMJCSJPEF MPTOFVN䜫UJDPT $BNCJPEFMBTSVFEBT $BNCJPEFMPTOFVN䜫UJDPT $PNQSPCBDJ䜽OEFMBQSFTJ䜽OEFJOGMBEPEFMPT OFVN䜫UJDPT $VJEBEPEFMPTOFVN䜫UJDPT UJRVFUBFOMBQBSFEEFMOFVN䜫UJDP .BOUFOJNJFOUPEFMOFVN䜫UJDP /FVN䜫UJDPEFDPDJFOUFEFBMUVSBBODIPTFDa DJPOBMCBKP 1SFTJ䜽OSFDPNFOEBEBEFJOGMBEPEFMPTOFVa N䜫UJDPTFOGS䜷P 3PUBDJ䜽OEFMPTOFVN䜫UJDPT 5SBDDJ䜽OEFMOFVN䜫UJDP /䝄NFSPEFJEFOUJGJDBDJ䜽OEFMWFI䜷DVMP 7*/ /䝄NFSPEFMNPUPS 3 1FTPEFMWFI䜷DVMP (8 QFTPCSVUPEFMFKF (83 QFTPN䜫YJNPCSVUPEFMFKF (78 QFTPCSVUPEFMWFI䜷DVMP (783 QFTPN䜫YJNPCSVUPEFMWFI䜷DVMP 1FTPCSVUPCBTF 1FTPCSVUPEFMWFI䜷DVMP 1FTPEFDBSHB 4PCSFDBSHB 1FTPWPMVNFO 1PSU䜽OUSBTFSP QFSUVSBEFMQPSU䜽OUSBTFSP $JFSSFEFMQPSU䜽OUSBTFSP 1PTJDJPOFTEFMBMMBWF 1BSBEBEFMNPUPS 1PTJDJ䜽OEFMJOUFSSVQUPSEFFODFOEJEP 4JTUFNBBVYJMJBSQBSBFMBSSBORVFFOGS䜷P WFI䜷DVMPEFDPNCVTUJCMF'MFY QBSB#SBTJMZ 1BSBHVBZ 1PTJDJPOFTEFMMBWF SSBORVFEFMNPUPS 1SPDFTPEFSPEBKFEFTVWFI䜷DVMP 1VSJGJDBEPSEFBJSF ,BQQB -.1* HBTPMJOB ''7 ,BQQB -.1* HBTPMJOB 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 518. $BNCJPEFMGJMUSP 1VSJGJDBEPSEFBJSF ,BQQB -5(%* $BNCJPEFMGJMUSP 5 3FGSJHFSBOUFEFMNPUPS ,BQQB -.1* HBa TPMJOB ''7 ,BQQB -.1* $BNCJPEFMSFGSJHFSBOUF $PNQSPCBDJ䜽OEFMOJWFMEFSFGSJHFSBOUF 3FGSJHFSBOUFEFMNPUPS ,BQQB -5(%* $BNCJPEFMSFGSJHFSBOUF $PNQSPCBDJ䜽OEFMOJWFMEFSFGSJHFSBOUF 3FNPMRVF (BODIPEFSFNPMRVFEFTNPOUBCMF 3FNPMRVFEFMWFI䜷DVMPFOVOBFNFSHFODJB 4FSWJDJPEFSFNPMRVF 3FRVJTJUPTEFDPNCVTUJCMF .PUPSEFHBTPMJOB 3FRVJTJUPTEFMDPNCVTUJCMF 3FUSPWJTPSFT 3FUSPWJTPSFYUFSJPS 3FUSPWJTPSJOUFSJPS 6 4FSWJDJPEFNBOUFOJNJFOUPQSPHSBNBEP 1SFDBVDJ䜽OEFMTFSWJDJPEFNBOUFOJNJFOUP QSPHSBNBEP 4FSWJDJPTEFNBOUFOJNJFOUP 1SFDBVDJPOFTEFNBOUFOJNJFOUPQPSQBSUF EFMDPOEVDUPS 3FTQPOTBCJMJEBEEFMQSPQJFUBSJP 4JFMNPUPSOPBSSBODB 4JFMNPUPSHJSBEFGPSNBOPSNBM QFSPOP BSSBODB 4JFMNPUPSOPHJSBPHJSBEFTQBDJP 4JFMNPUPSTFTPCSFDBMJFOUB 4JVOOFVN䜫UJDPFTU䜫EFTJOGMBEP DPOFMFRVJQP EFDBNCJPEFOFVN䜫UJDPTFODBSSFUFSB 4JTUFNBEFBMBSNBBOUJSSPCP TUBEPBDUJWBEP TUBEPEFMBBMBSNBBOUJSSPCP TUBEPEFTBDUJWBEP 4JTUFNBEFBVEJP OUFOB 1VFSUPVYZ64# 䜉$䜽NPGVODJPOBFMFRVJQPEFBVEJPEFMWFI䜷DVMP 4JTUFNBEFBZVEBBMFTUBDJPOBNJFOUPUSBTFSP VUPEJBHO䜽TUJDP 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 519. $POEJDJPOFTFOMBTRVFOPGVODJPOBFMTJTUFa NBEFBZVEBBMFTUBDJPOBNJFOUPUSBTFSP 'VODJPOBNJFOUPEFMTJTUFNBEFBZVEBBMFTa UBDJPOBNJFOUPUSBTFSP 1SFDBVDJPOFTBMVUJMJ[BSFMTJTUFNBEFBZVEB BMFTUBDJPOBNJFOUPUSBTFSP 4JTUFNBEFDPOUSPMDMJN䜫UJDPNBOVBM UJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOEJDJPOBEP 4JTUFNBEFDPOUSPMEFDSVDFSP *OUFSSVQUPSEFDPOUSPMEFDSVDFSP 1BSBBDFMFSBSUFNQPSBMNFOUFDPOFMDPOUSPM EFDSVDFSPFODFOEJEP 1BSBBKVTUBSMBWFMPDJEBEEFDPOUSPMEFDSVDFSP 1BSBBQBHBSFMDPOUSPMEFDSVDFSP 1BSBBVNFOUBSMBWFMPDJEBEEFDPOUSPMEF DSVDFSPTFMFDDJPOBEB 1BSBDBODFMBSFMDPOUSPMEFDSVDFSP 1BSBEJTNJOVJSMBWFMPDJEBEEFDSVDFSP 1BSBSFBOVEBSMBWFMPDJEBEEFDSVDFSPBN䜫T EFLNIBQSPYJNBEBNFOUF 4JTUFNBEFDPOUSPMEFFNJTJ䜽O 4JTUFNBEFDPOUSPMEFFNJTJ䜽OEFFTDBQF 4JTUFNBEFDPOUSPMEFFNJTJ䜽OEFMD䜫SUFS 4JTUFNBEFDPOUSPMEFFNJTJ䜽OFWBQPSBUJWB 4JTUFNBEFDPOUSPMEFM䜷NJUFEFWFMPDJEBE 4JTUFNBEFDPOUSPMEFQSFTJ䜽OEFMPTOFVN䜫UJa DPT 51.4 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSBVUPN䜫UJDP $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEPBVUPN䜫UJDPT $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEPNBOVBMFT $PNQSPCBDJ䜽OEFMBDBOUJEBEEFSFGSJHFSBOUF EFMBJSFBDPOEJDJPOBEPZEFMVCSJDBOUFEFM DPNQSFTPS UJRVFUBEFMSFGSJHFSBOUFEFMBJSFBDPOEJDJPOBEP 'JMUSPEFBJSFEFDPOUSPMEFMDMJNBUJ[BEPS 'VODJPOBNJFOUPEFMTJTUFNB 4JTUFNBEFDPOUSPMEFMDMJNBUJ[BEPSNBOVBM JSFBDPOEJDJPOBEP $BMFGBDDJ䜽OZBJSFBDPOEJDJPOBEP $PNQSPCBDJ䜽OEFMBDBOUJEBEEFSFGSJHFSBOUF EFMBJSFBDPOEJDJPOBEPZEFMVCSJDBOUFEFM DPNQSFTPS 'JMUSPEFBJSFEFMDPOUSPMEFMDMJNBUJ[BEPS 'VODJPOBNJFOUPEFMTJTUFNB 4JTUFNBEFDPOUSPMEFMM䜷NJUFEFWFMPDJEBE 1BSBBKVTUBSFMM䜷NJUFEFWFMPDJEBE 1BSBEFTBDUJWBSFMDPOUSPMEFM䜷NJUFEFWFMPDJEBE 4JTUFNBEFGSFOP #VFOPTI䜫CJUPTEFGSFOBEP 4JTUFNBEFGSFOPT $POUSPMEFFTUBCJMJEBEEFMWFI䜷DVMP 74. $POUSPMEFFTUBCJMJEBEFMFDUS䜽OJDP 4$ 'SFOPEFFTUBDJPOBNJFOUP 'SFOPTBTJTUJEPT 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 520. 4JTUFNBEFBSSBORVFBTJTUJEPFOQFOEJFOUFT )$ 4JTUFNBEFGSFOPTBOUJCMPRVFP #4 4JTUFNBEFMPTGSFOPT 44TF䜻BMEFQBSBEBEFFNFSHFODJB 4JTUFNBEFQBSBEBZBSSBORVFBSBMFOU䜷 *4( SSBORVFBVUPN䜫UJDP WFS䜷BEFMTJTUFNB*4( %FTBDUJWBDJ䜽OEFMTJTUFNB*4( TUBEPEFGVODJPOBNJFOUPEFMTJTUFNB*4( 1BSBEBBVUPN䜫UJDB 4JTUFNBEFTVKFDJ䜽OQBSBOJ䜻PT $34 ODMBKF*40'*9ZBODMBKFEFDPSSFBTVQFSJPS TJTUFNBEFBODMBKFT*40'*9 QBSBOJ䜻PT *OTUBMBDJ䜽OEFVOTJTUFNBEFTVKFDJ䜽OQBSB OJ䜻PT $34 4FMFDDJ䜽OEFVOTJTUFNBEFTVKFDJ䜽OQBSBOJa 䜻PT $34 4JTUFNBEFMBJSFBDPOEJDJPOBEP 4JTUFNB*4( *EMF4UPQBOE(P 7 5BCMFSPEFJOTUSVNFOUPT $POUSPMEFMUBCMFSPEFJOTUSVNFOUPT *OEJDBEPSEFDBNCJPEFMBUSBOTNJTJ䜽O *OEJDBEPSFT 5BQBEFMMFOBEPEFDPNCVTUJCMF QFSUVSBEFMBUBQBEFMMFOBEPEFDPNCVTUJCMF $JFSSFEFMBUBQBEFMMFOBEPEFDPNCVTUJCMF %FQ䜽TJUPEFHBTPMJOBFOFMDPNQBSUJNFOUP EFMNPUPS WFI䜷DVMPEFDPNCVTUJCMF'MFY QBSB#SBTJMZ1BSBHVBZ 5FDIPTPMBS EWFSUFODJBEFUFDIPTPMBSBCJFSUP %FTMJ[BNJFOUPEFMUFDIPTPMBS *ODMJOBDJ䜽OEFMUFDIPTPMBS 1BSBTPM 3FBKVTUFEFMUFDIPTPMBS 5FTUJHPTJOEJDBEPSFTZEFBEWFSUFODJB 5FTUJHPTEFBEWFSUFODJB 5FTUJHPTJOEJDBEPSFT 5SBOTFKFBVUPN䜫UJDP #VFOPTI䜫CJUPTEFDPOEVDDJ䜽O 'VODJPOBNJFOUPEFMUSBOTFKFBVUPN䜫UJDP 5SBOTFKFNBOVBM #VFOPTI䜫CJUPTEFDPOEVDDJ䜽O 'VODJPOBNJFOUPEFMUSBOTFKFNBOVBM 5SBOTNJTJ䜽OBVUPN䜫UJDB 5SBOTNJTJ䜽ONBOVBM 9 7BUJPTEFMBCPNCJMMB 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP
- 521. 7FOUBOBT-$% *OGPSNBDJ䜽OEFWJBKF PSEFOBEPSEFWJBKF .PEPEFBKVTUFTEFMVTVBSJP .PEPEFNBOUFOJNJFOUP .PEPT-$% 3FTVNFOHFOFSBM 7FOUBOJMMBT 7FOUBOJMMBTNBOVBMFT 7JTJ䜽OHFOFSBMEFMFYUFSJPS 7JTUBHFOFSBMEFMQBOFMEFJOTUSVNFOUPT 7JTUBHFOFSBMJOUFSJPS 7PMBOUFEFEJSFDDJ䜽O $MBYPO 7PMBOUFEFEJSFDDJ䜽ODBMFGBDUBEP 7PMBOUFSFHVMBCMF 7PMBOUFM 4JTUFNBEFEJSFDDJ䜽OBTJTUJEBFM䜳DUSJDB 䜗OEJDFBMGBC䜳UJDP * 䜗OEJDFBMGBC䜳UJDP