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3RGRYL 3ORþLFHNDPHQLSRGRYL
SODVWLþQHREORJHSRGRYL
RGOLQROHXPD
0UDPRU1LNDGD QH þLVWLWL L]UDYQR VD VDSQLFRP ]D SRG EH] NUSH 1D
SRGRYLPDRGPUDPRUDPRåHELWLSRWUHEQDYLãHVWUXNDSULPMHQDNDNRELVH
XFLMHORVWLXNORQLOLRVWDFLVWDULKVUHGVWDYD]DSUDQMHLPDVQLVORM=DWXYUVWX
þLãüHQMDRGDEHULWHQLåLVWXSDQMSDUH,VWLSRSRWUHELPRåHWHSRYHüDYDWL
3ORþLFHNHUDPLþNLSRGRYL.UR]YRGXL VUHGVWYD]DþLãüHQMHVHXIXJDPD
VWYDUDMXFUQLVORMHYL 7DPRVHVDNXSOMDSUDãLQDL GUXJLRVWDFL=D GQHYQR
þLãüHQMHSUHNR VDSQLFH ]D SRG QDWHJQXWL VYMHåX þLVWX NUSX L ILNVLUDWL VD
VSRMNDPD]DSULWH]DQMH6DVDSQLFRP]DSRGODJDQRSUHOD]LWLSUHNRSRGD
.DNRELVHNUSD RSWLPDOQRLVNRULVWLODPRåHWHMXSRPDNQXWL QDVDSQLFL]D
SRGLOLMXRNUHQXWL$NRMHSUOMDYãWLQDWYUGRNRUQDRQGDVHPRåHL]UDYQREH]
NUSHþLVWLWLVDSUHNORSLYRPþHWNRP6DþHWNDPDVHSUOMDYãWLQDRWDSDL]IXJD
LXNODQMD1DNRQWRJDSUHNRVDSQLFH]DSRGQDWHJQXWLNUSXLSUHEULVDWL
=LGRYL 3ORþLFHWDSHWHNRMHVH
PRJXSUDWL
3UDQMH
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3UHNRVWDNODSULMHÿLWHVD JXPHQLPREUD]RPEH]SDUH NDNRELVWHXNORQLOL
NRQGHQ]LUDQXYRGX=DL]EMHJDYDQMH PUOMDSULMHÿLWHERþQRRGR]GR SUHPD
JRUH
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FPGUåDWLLVSUHGSUR]RUDLSXVWLWLGDGMHOXMHWRSOLQD=DXQXWUDãQMHþLãüHQMH
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YLVRNLVWXSDQMSDUH
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þLVWRPSDPXþQRP NUSRP 5DGLWH VD NUDWNLP LPSXOVLPD SDUH NDNR VH
WNDQLQDQHELVPRþLOD7YUGRNRUQHPUOMHREUDÿXMWHVDVWUSOMHQMHPRSUH]QR
SDULWHMHGQR WH LVWR PMHVWR QH YLãH RG MHGQH PLQXWH SRWRP þHNDMWH SHW
PLQXWDL SRQRYLWH þLãüHQMH ,]YHGLWH NUXåQD NUHWDQMD ERþQR LOL QDSULMHG L
QDWUDJNDNRELVWHXãOLXVYHVORMHYHWNDQLQH=DNOMXþLWHREUDGXQDWDMQDþLQ
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7NDQLQH =DVWRUL]DVWRULWXãHYD
RVYMHåDYDQMHRGMHüH
VNLGDQMHPUOMD
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6DQLWDUQH
QDSUDYH
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WXãNDELQDWHãNRSULVWXSDþQLKLOLMDNRSUOMDYLKPMHVWD3HUDþSUR]RUDMHYUOR
NRULVWDQNRGþLãüHQMDSRGUXþMDNRMDVXREORåHQDSORþLFDPD
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LOLEH]RNUXJOHþHWNH.RULVWLWHVSXåYXLOLNXKLQMVNLSDSLUNDNRELVWH XNORQLOL
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.DPHQMD]DNDPLQ
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SUHNRSRYUãLQHVNUR]GRNSDUDQHSURGUH
1DUROHWDPD RG 39&D REUDGD SDURP PRUD ELWL EU]D .RG åDOX]LMD RG
WNDQLQHELVWHPDWHULMDOSULMHREUDGHPRUDOLSURYMHULWLQDSRVWRMDQRVWERMH
$XWR 'DVNHVDDUPDWXUDPD
QDYODNHãDUNH]DYUDJD
IHOJHDOXPLQLMþHOLN
=DþLãüHQMHXQXWUDãQMRVWL9DãHJYR]LOD]DQDYODNHLGUXJHGLMHORYHNRULVWLWH
SRGQXþHWNX VD NUSRP L SUL WRPH VOLMHGLWH XSXWH ]D þLãüHQMH SRGUXþMD
VWDQRYDQMDýHWNXQHPRMWHNRULVWLWLEH]NUSHDNRþLVWLWHNRåQH REORJH=D
NDSHQDJODYþLQLNRWDþDQDMEROMHNRULVWLWHVDSQLFXVDWRþNDVWLPPOD]RPVD
QDVWDYNRPRNUXJOHþHWNH
%LFLNOH
PRWRFLNOL
2NYLULIHOJHåELFHVHGOD
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POD]RPSDUH
7HKQLþNLSRGDFL

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