8=*/$%Ɩâ$1$
,]SLOGLHWãƯVGDUEƯEDVSƝFNDWUDVOLHWRãDQDVUHL]HV
ƺDXMLHWG]LQƝMDPDWG]LVWXQQRVWLSULQLHWLHNƗUWX
SLUPVLHNƗUWDVQRYLHWRãDQDVJODEƗãDQƗYDL
WUDQVSRUWƝãDQDV
ƷƝGHV]ƗƧLXQGHJYLHOXJODEƗMLHWODELYHQWLOƝWƗYLHWƗ
NXUGHJYLHODVL]JDURMXPLQHYDUQRNƺnjWVDVNDUƝDU
G]LUNVWHOƝPYDLDWNOƗWXOLHVPXQRnjGHQVVLOGƯWƗMLHP
HOHNWULVNDMLHPPRWRULHPYDLVOƝGåLHPNUƗVQƯPXWW
JODEƗMLHWƷƝGHV]ƗƧLDUX]OLNWLHPDL]VDUJLHPXQ
QRYLHWRMLHWƷƝGHV]ƗƧLWƗODLDVLREMHNWLQHYDUƝWX
QHMDXãLUDGƯWWUDXPDV
JODEƗMLHWƷƝGHV]ƗƧLEƝUQLHPQHSLHHMDPƗYLHWƗ
6(=21$68=*/$%Ɩâ$1$
6DJDWDYRMLHWLHNƗUWXJODEƗãDQDLVH]RQDVEHLJƗVYDL
WDGMDWƗQHWLNVL]PDQWRWDGLHQDVYDLLOJƗN
6DJDWDYRãDQƗVLOJVWRãDLƷƝGHV]ƗƧDJODEƗãDQDL
SLUPVJODEƗãDQDVUnjSƯJLL]WƯULHW]ƗƧL
JODEƗMLHWWRWƯUƗXQVDXVƗYLHWƗ
YLHJOLLHHƺƺRMLHWƗUƝMƗVPHWƗODYLUVPDVXQYDGRWQL
LHHƺƺRMLHWƷƝGLXQLHWLQLHWWRELH]ƗSDSƯUƗYDLDXGXPƗ
'(*9,(/$66,67Ɯ0$
'HJYLHODVVWDELOL]DWRUVLUSLHƼHPDPDDOWHUQDWƯYD
JXPLMDVGDƺLƼXX]NUƗãDQƗVLHVSƝMDVVDPD]LQƗãDQDL
X]JODEƗãDQDVODLNƗ3LHYLHQRMLHWGHJYLHODVWYHUWQƝYDL
GHJYLHODVNDQQƗVWDELOL]ƝWƗMX
,]SLOGLHWMDXNãDQDVLQVWUXNFLMDVNDVQRUƗGƯWDVX]
VWDELOL]ƝWƗMDWYHUWQƝP'DUELQLHWG]LQƝMXYLVPD]
PLQnjWHVSƝFVWDELOL]ƝWƗMDSLHYLHQRãDQDV
'=,1Ɯ-6
1RƼHPLHWDL]GHG]HVVYHFLXQDL]GHG]HVVYHFHV
DWYHUƝLHOHMLHWWƝMNDURWLFLNOXG]LQƝMDHƺƺDV
/ƝQLYHOFLHWVWDUWHUDDXNOXOƯG]UHL]HVODLHƺƺD
VDGDOƯWRVPHKƗQLVPƗ
1RPDLQLHWDL]GHG]HVVYHFLDUMDXQXLHWHLNWƗWLSDXQ
NDUVWXPDGLDSD]RQDVYHFL
,]WƯULHWJDLVD¿OWUX
3ƗUEDXGLHWYDLLHNƗUWDVVNUnjYHVX]JULHåƼLXQ
EXOWVNUnjYHVQDYYDƺƯJDV1RPDLQLHWMHENƗGDV
ERMƗWDVQRGLOXãDVYDLVDOnj]XãDVGDƺDV
1ƗNDPƗVVH]RQDVVƗNXPƗL]PDQWRMLHWWLNDLVYDLJX
GHJYLHOXNDVVDMDXNWDSDUHL]ƗEHQ]ƯQDHƺƺDVDWWLHFƯEƗ
&,76
1HX]JODEƗMLHWEHQ]ƯQXYDLUƗNSDUYLHQXVH]RQX
1RPDLQLHWGHJYLHODVNDQQXMDWƗVƗNUnjVƝW