You are on page 1of 15

7+(3527(&7,212):20(1)520'20(67,&9,2/(1&($&7

122)
>WK6HSWHPEHU@

$Q$FWWRSURYLGHIRUPRUHHIIHFWLYHSURWHFWLRQRIWKHULJKWVRIZRPHQJXDUDQWHHGXQGHUWKH
&RQVWLWXWLRQZKRDUHYLFWLPVRIYLROHQFHRIDQ\NLQGRFFXUULQJZLWKLQWKHIDPLO\DQGIRU
PDWWHUVFRQQHFWHGWKHUHZLWKRULQFLGHQWDOWKHUHWR

%(LWHQDFWHGE\3DUOLDPHQWLQWKH)LIW\VL[WK<HDURIWKH5HSXEOLFRI,QGLDDVIROORZV

&+$37(5,
35(/,0,1$5<

6KRUWWLWOHH[WHQWDQGFRPPHQFHPHQW

6KRUWWLWOHH[WHQWDQGFRPPHQFHPHQW  7KLV$FWPD\EHFDOOHGWKH3URWHFWLRQRI:RPHQ
IURP'RPHVWLF9LROHQFH$FW

 ,WH[WHQGVWRWKHZKROHRI,QGLDH[FHSWWKH6WDWHRI-DPPXDQG.DVKPLU

 ,WVKDOOFRPHLQWRIRUFHRQVXFKGDWHDVWKH&HQWUDO*RYHUQPHQWPD\E\QRWLILFDWLRQLQWKH
2IILFLDO*D]HWWHDSSRLQW

'HILQLWLRQV

'HILQLWLRQV,QWKLV$FWXQOHVVWKHFRQWH[WRWKHUZLVHUHTXLUHV

D DJJULHYHGSHUVRQPHDQVDQ\ZRPDQZKRLVRUKDVEHHQLQDGRPHVWLFUHODWLRQVKLSZLWK
WKHUHVSRQGHQWDQGZKRDOOHJHVWRKDYHEHHQVXEMHFWHGWRDQ\DFWRIGRPHVWLFYLROHQFHE\WKH
UHVSRQGHQW

E FKLOGPHDQVDQ\SHUVRQEHORZWKHDJHRIHLJKWHHQ\HDUVDQGLQFOXGHVDQ\DGRSWHGVWHSRU
IRVWHUFKLOG

F FRPSHQVDWLRQRUGHUPHDQVDQRUGHUJUDQWHGLQWHUPVRIVHFWLRQ

G FXVWRG\RUGHUPHDQVDQRUGHUJUDQWHGLQWHUPVRIVHFWLRQ

H GRPHVWLFLQFLGHQWUHSRUWPHDQVDUHSRUWPDGHLQWKHSUHVFULEHGIRUPRQUHFHLSWRID
FRPSODLQWRIGRPHVWLFYLROHQFHIURPDQDJJULHYHGSHUVRQ

I GRPHVWLFUHODWLRQVKLSPHDQVDUHODWLRQVKLSEHWZHHQWZRSHUVRQVZKROLYHRUKDYHDWDQ\
SRLQWRIWLPHOLYHGWRJHWKHULQDVKDUHGKRXVHKROGZKHQWKH\DUHUHODWHGE\FRQVDQJXLQLW\
PDUULDJHRUWKURXJKDUHODWLRQVKLSLQWKHQDWXUHRIPDUULDJHDGRSWLRQRUDUHIDPLO\PHPEHUV
OLYLQJWRJHWKHUDVDMRLQWIDPLO\
J GRPHVWLFYLROHQFHKDVWKHVDPHPHDQLQJDVDVVLJQHGWRLWLQVHFWLRQ
K GRZU\VKDOOKDYHWKHVDPHPHDQLQJDVDVVLJQHGWRLWLQVHFWLRQRIWKH'RZU\
3URKLELWLRQ$FW RI 


L 0DJLVWUDWHPHDQVWKH-XGLFLDO0DJLVWUDWHRIWKHILUVWFODVVRUDVWKHFDVHPD\EHWKH
0HWURSROLWDQ0DJLVWUDWHH[HUFLVLQJMXULVGLFWLRQXQGHUWKH&RGHRI&ULPLQDO3URFHGXUH
RI LQWKHDUHDZKHUHWKHDJJULHYHGSHUVRQUHVLGHVWHPSRUDULO\RURWKHUZLVHRUWKH
UHVSRQGHQWUHVLGHVRUWKHGRPHVWLFYLROHQFHLVDOOHJHGWRKDYHWDNHQSODFH

M PHGLFDOIDFLOLW\PHDQVVXFKIDFLOLW\DVPD\EHQRWLILHGE\WKH6WDWH*RYHUQPHQWWREHD
PHGLFDOIDFLOLW\IRUWKHSXUSRVHVRIWKLV$FW

N PRQHWDU\UHOLHIPHDQVWKHFRPSHQVDWLRQZKLFKWKH0DJLVWUDWHPD\RUGHUWKHUHVSRQGHQW
WRSD\WRWKHDJJULHYHGSHUVRQDWDQ\VWDJHGXULQJWKHKHDULQJRIDQDSSOLFDWLRQVHHNLQJDQ\
UHOLHIXQGHUWKLV$FWWRPHHWWKHH[SHQVHVLQFXUUHGDQGWKHORVVHVVXIIHUHGE\WKHDJJULHYHG
SHUVRQDVDUHVXOWRIWKHGRPHVWLFYLROHQFH

O QRWLILFDWLRQPHDQVDQRWLILFDWLRQSXEOLVKHGLQWKH2IILFLDO*D]HWWHDQGWKHH[SUHVVLRQ
QRWLILHGVKDOOEHFRQVWUXHGDFFRUGLQJO\

P SUHVFULEHGPHDQVSUHVFULEHGE\UXOHVPDGHXQGHUWKLV$FW

Q 3URWHFWLRQ2IILFHUPHDQVDQRIILFHUDSSRLQWHGE\WKH6WDWH*RYHUQPHQWXQGHUVXEVHFWLRQ
 RIVHFWLRQ

R SURWHFWLRQRUGHUPHDQVDQRUGHUPDGHLQWHUPVRIVHFWLRQ

S UHVLGHQFHRUGHUPHDQVDQRUGHUJUDQWHGLQWHUPVRIVXEVHFWLRQ  RIVHFWLRQ
T UHVSRQGHQWPHDQVDQ\DGXOWPDOHSHUVRQZKRLVRUKDVEHHQLQDGRPHVWLFUHODWLRQVKLS
ZLWKWKHDJJULHYHGSHUVRQDQGDJDLQVWZKRPWKHDJJULHYHGSHUVRQKDVVRXJKWDQ\UHOLHIXQGHU
WKLV$FW

3URYLGHGWKDWDQDJJULHYHGZLIHRUIHPDOHOLYLQJLQDUHODWLRQVKLSLQWKHQDWXUHRIDPDUULDJH
PD\DOVRILOHDFRPSODLQWDJDLQVWDUHODWLYHRIWKHKXVEDQGRUWKHPDOHSDUWQHU

U VHUYLFHSURYLGHUPHDQVDQHQWLW\UHJLVWHUHGXQGHUVXEVHFWLRQ  RIVHFWLRQ

V VKDUHGKRXVHKROGPHDQVDKRXVHKROGZKHUHWKHSHUVRQDJJULHYHGOLYHVRUDWDQ\VWDJHKDV
OLYHGLQDGRPHVWLFUHODWLRQVKLSHLWKHUVLQJO\RUDORQJZLWKWKHUHVSRQGHQWDQGLQFOXGHVVXFKD
KRXVHKROGZKHWKHURZQHGRUWHQDQWHGHLWKHUMRLQWO\E\WKHDJJULHYHGSHUVRQDQGWKH
UHVSRQGHQWRURZQHGRUWHQDQWHGE\HLWKHURIWKHPLQUHVSHFWRIZKLFKHLWKHUWKHDJJULHYHG
SHUVRQRUWKHUHVSRQGHQWRUERWKMRLQWO\RUVLQJO\KDYHDQ\ULJKWWLWOHLQWHUHVWRUHTXLW\DQG
LQFOXGHVVXFKDKRXVHKROGZKLFKPD\EHORQJWRWKHMRLQWIDPLO\RIZKLFKWKHUHVSRQGHQWLVD
PHPEHULUUHVSHFWLYHRIZKHWKHUWKHUHVSRQGHQWRUWKHDJJULHYHGSHUVRQKDVDQ\ULJKWWLWOHRU
LQWHUHVWLQWKHVKDUHGKRXVHKROG

W VKHOWHUKRPHPHDQVDQ\VKHOWHUKRPHDVPD\EHQRWLILHGE\WKH6WDWH*RYHUQPHQWWREHD
VKHOWHUKRPHIRUWKHSXUSRVHVRIWKLV$FW

&+$37(5,,
'20(67,&9,2/(1&(

'HILQLWLRQRIGRPHVWLFYLROHQFH


'HILQLWLRQRIGRPHVWLFYLROHQFH)RUWKHSXUSRVHVRIWKLV$FWDQ\DFWRPLVVLRQRU
FRPPLVVLRQRUFRQGXFWRIWKHUHVSRQGHQWVKDOOFRQVWLWXWHGRPHVWLFYLROHQFHLQFDVHLW

D KDUPVRULQMXUHVRUHQGDQJHUVWKHKHDOWKVDIHW\OLIHOLPERUZHOOEHLQJZKHWKHUPHQWDORU
SK\VLFDORIWKHDJJULHYHGSHUVRQRUWHQGVWRGRVRDQGLQFOXGHVFDXVLQJSK\VLFDODEXVHVH[XDO
DEXVHYHUEDODQGHPRWLRQDODEXVHDQGHFRQRPLFDEXVHRU

E KDUDVVHVKDUPVLQMXUHVRUHQGDQJHUVWKHDJJULHYHGSHUVRQZLWKDYLHZWRFRHUFHKHURUDQ\
RWKHUSHUVRQUHODWHGWRKHUWRPHHWDQ\XQODZIXOGHPDQGIRUDQ\GRZU\RURWKHUSURSHUW\RU
YDOXDEOHVHFXULW\RU

F KDVWKHHIIHFWRIWKUHDWHQLQJWKHDJJULHYHGSHUVRQRUDQ\SHUVRQUHODWHGWRKHUE\DQ\
FRQGXFWPHQWLRQHGLQFODXVH D RUFODXVH E RU

G RWKHUZLVHLQMXUHVRUFDXVHVKDUPZKHWKHUSK\VLFDORUPHQWDOWRWKHDJJULHYHGSHUVRQ

([SODQDWLRQ,)RUWKHSXUSRVHVRIWKLVVHFWLRQ

L SK\VLFDODEXVHPHDQVDQ\DFWRUFRQGXFWZKLFKLVRIVXFKDQDWXUHDVWRFDXVHERGLO\SDLQ
KDUPRUGDQJHUWROLIHOLPERUKHDOWKRULPSDLUWKHKHDOWKRUGHYHORSPHQWRIWKHDJJULHYHG
SHUVRQDQGLQFOXGHVDVVDXOWFULPLQDOLQWLPLGDWLRQDQGFULPLQDOIRUFH

LL VH[XDODEXVHLQFOXGHVDQ\FRQGXFWRIDVH[XDOQDWXUHWKDWDEXVHVKXPLOLDWHVGHJUDGHVRU
RWKHUZLVHYLRODWHVWKHGLJQLW\RIZRPDQ

LLL YHUEDODQGHPRWLRQDODEXVHLQFOXGHV

D LQVXOWVULGLFXOHKXPLOLDWLRQQDPHFDOOLQJDQGLQVXOWVRUULGLFXOHVSHFLDOO\ZLWKUHJDUGWR
QRWKDYLQJDFKLOGRUDPDOHFKLOGDQG

E UHSHDWHGWKUHDWVWRFDXVHSK\VLFDOSDLQWRDQ\SHUVRQLQZKRPWKHDJJULHYHGSHUVRQLV
LQWHUHVWHG

LY HFRQRPLFDEXVHLQFOXGHV
D GHSULYDWLRQRIDOORUDQ\HFRQRPLFRUILQDQFLDOUHVRXUFHVWRZKLFKWKHDJJULHYHGSHUVRQLV
HQWLWOHGXQGHUDQ\ODZRUFXVWRPZKHWKHUSD\DEOHXQGHUDQRUGHURIDFRXUWRURWKHUZLVHRU
ZKLFKWKHDJJULHYHGSHUVRQUHTXLUHVRXWRIQHFHVVLW\LQFOXGLQJEXWQRWOLPLWHGWRKRXVHKROG
QHFHVVLWLHVIRUWKHDJJULHYHGSHUVRQDQGKHUFKLOGUHQLIDQ\VWULGKDQSURSHUW\MRLQWO\RU
VHSDUDWHO\RZQHGE\WKHDJJULHYHGSHUVRQSD\PHQWRIUHQWDOUHODWHGWRWKHVKDUHGKRXVHKROG
DQGPDLQWHQDQFH

E GLVSRVDORIKRXVHKROGHIIHFWVDQ\DOLHQDWLRQRIDVVHWVZKHWKHUPRYDEOHRULPPRYDEOH
YDOXDEOHVVKDUHVVHFXULWLHVERQGVDQGWKHOLNHRURWKHUSURSHUW\LQZKLFKWKHDJJULHYHGSHUVRQ
KDVDQLQWHUHVWRULVHQWLWOHGWRXVHE\YLUWXHRIWKHGRPHVWLFUHODWLRQVKLSRUZKLFKPD\EH
UHDVRQDEO\UHTXLUHGE\WKHDJJULHYHGSHUVRQRUKHUFKLOGUHQRUKHUVWULGKDQRUDQ\RWKHU
SURSHUW\MRLQWO\RUVHSDUDWHO\KHOGE\WKHDJJULHYHGSHUVRQDQG


F SURKLELWLRQRUUHVWULFWLRQWRFRQWLQXHGDFFHVVWRUHVRXUFHVRUIDFLOLWLHVZKLFKWKHDJJULHYHG
SHUVRQLVHQWLWOHGWRXVHRUHQMR\E\YLUWXHRIWKHGRPHVWLFUHODWLRQVKLSLQFOXGLQJDFFHVVWRWKH
VKDUHGKRXVHKROG

([SODQDWLRQ,,)RUWKHSXUSRVHRIGHWHUPLQLQJZKHWKHUDQ\DFWRPLVVLRQFRPPLVVLRQRU
FRQGXFWRIWKHUHVSRQGHQWFRQVWLWXWHVGRPHVWLFYLROHQFHXQGHUWKLVVHFWLRQWKHRYHUDOOIDFWV
DQGFLUFXPVWDQFHVRIWKHFDVHVKDOOEHWDNHQLQWRFRQVLGHUDWLRQ

&+$37(5,,,
32:(56$1''87,(62)3527(&7,212)),&(566(59,&(3529,'(567&

,QIRUPDWLRQWR3URWHFWLRQ2IILFHUDQGH[FOXVLRQRIOLDELOLW\RILQIRUPDQW

,QIRUPDWLRQWR3URWHFWLRQ2IILFHUDQGH[FOXVLRQRIOLDELOLW\RILQIRUPDQW  $Q\SHUVRQ
ZKRKDVUHDVRQWREHOLHYHWKDWDQDFWRIGRPHVWLFYLROHQFHKDVEHHQRULVEHLQJRULVOLNHO\WR
EHFRPPLWWHGPD\JLYHLQIRUPDWLRQDERXWLWWRWKHFRQFHUQHG3URWHFWLRQ2IILFHU

 1ROLDELOLW\FLYLORUFULPLQDOVKDOOEHLQFXUUHGE\DQ\SHUVRQIRUJLYLQJLQJRRGIDLWKRI
LQIRUPDWLRQIRUWKHSXUSRVHRIVXEVHFWLRQ  

'XWLHVRISROLFHRIILFHUVVHUYLFHSURYLGHUVDQG0DJLVWUDWH

'XWLHVRISROLFHRIILFHUVVHUYLFHSURYLGHUVDQG0DJLVWUDWH$SROLFHRIILFHU3URWHFWLRQ
2IILFHUVHUYLFHSURYLGHURU0DJLVWUDWHZKRKDVUHFHLYHGDFRPSODLQWRIGRPHVWLFYLROHQFHRULV
RWKHUZLVHSUHVHQWDWWKHSODFHRIDQLQFLGHQWRIGRPHVWLFYLROHQFHRUZKHQWKHLQFLGHQWRI
GRPHVWLFYLROHQFHLVUHSRUWHGWRKLPVKDOOLQIRUPWKHDJJULHYHGSHUVRQ

D RIKHUULJKWWRPDNHDQDSSOLFDWLRQIRUREWDLQLQJDUHOLHIE\ZD\RIDSURWHFWLRQRUGHUDQ
RUGHUIRUPRQHWDU\UHOLHIDFXVWRG\RUGHUDUHVLGHQFHRUGHUDFRPSHQVDWLRQRUGHURUPRUH
WKDQRQHVXFKRUGHUXQGHUWKLV$FW

E RIWKHDYDLODELOLW\RIVHUYLFHVRIVHUYLFHSURYLGHUV

F RIWKHDYDLODELOLW\RIVHUYLFHVRIWKH3URWHFWLRQ2IILFHUV

G RIKHUULJKWWRIUHHOHJDOVHUYLFHVXQGHUWKH/HJDO6HUYLFHV$XWKRULWLHV$FW RI
 
H RIKHUULJKWWRILOHDFRPSODLQWXQGHUVHFWLRQ$RIWKH,QGLDQ3HQDO&RGH RI 
ZKHUHYHUUHOHYDQW

3URYLGHGWKDWQRWKLQJLQWKLV$FWVKDOOEHFRQVWUXHGLQDQ\PDQQHUDVWRUHOLHYHDSROLFHRIILFHU
IURPKLVGXW\WRSURFHHGLQDFFRUGDQFHZLWKODZXSRQUHFHLSWRILQIRUPDWLRQDVWRWKH
FRPPLVVLRQRIDFRJQL]DEOHRIIHQFH

'XWLHVRIVKHOWHUKRPHV

'XWLHVRIVKHOWHUKRPHV,IDQDJJULHYHGSHUVRQRURQKHUEHKDOID3URWHFWLRQ2IILFHURUD
VHUYLFHSURYLGHUUHTXHVWVWKHSHUVRQLQFKDUJHRIDVKHOWHUKRPHWRSURYLGHVKHOWHUWRKHUVXFK

SHUVRQLQFKDUJHRIWKHVKHOWHUKRPHVKDOOSURYLGHVKHOWHUWRWKHDJJULHYHGSHUVRQLQWKHVKHOWHU
KRPH

'XWLHVRIPHGLFDOIDFLOLWLHV

'XWLHVRIPHGLFDOIDFLOLWLHV,IDQDJJULHYHGSHUVRQRURQKHUEHKDOID3URWHFWLRQ2IILFHURUD
VHUYLFHSURYLGHUUHTXHVWVWKHSHUVRQLQFKDUJHRIDPHGLFDOIDFLOLW\WRSURYLGHDQ\PHGLFDODLG
WRKHUVXFKSHUVRQLQFKDUJHRIWKHPHGLFDOIDFLOLW\VKDOOSURYLGHPHGLFDODLGWRWKHDJJULHYHG
SHUVRQLQWKHPHGLFDOIDFLOLW\

$SSRLQWPHQWRI3URWHFWLRQ2IILFHUV

$SSRLQWPHQWRI3URWHFWLRQ2IILFHUV  7KH6WDWH*RYHUQPHQWVKDOOE\QRWLILFDWLRQ
DSSRLQWVXFKQXPEHURI3URWHFWLRQ2IILFHUVLQHDFKGLVWULFWDVLWPD\FRQVLGHUQHFHVVDU\DQG
VKDOODOVRQRWLI\WKHDUHDRUDUHDVZLWKLQZKLFKD3URWHFWLRQ2IILFHUVKDOOH[HUFLVHWKHSRZHUV
DQGSHUIRUPWKHGXWLHVFRQIHUUHGRQKLPE\RUXQGHUWKLV$FW

 7KH3URWHFWLRQ2IILFHUVVKDOODVIDUDVSRVVLEOHEHZRPHQDQGVKDOOSRVVHVVVXFK
TXDOLILFDWLRQVDQGH[SHULHQFHDVPD\EHSUHVFULEHG

 7KHWHUPVDQGFRQGLWLRQVRIVHUYLFHRIWKH3URWHFWLRQ2IILFHUDQGWKHRWKHURIILFHUV
VXERUGLQDWHWRKLPVKDOOEHVXFKDVPD\EHSUHVFULEHG

'XWLHVDQGIXQFWLRQVRI3URWHFWLRQ2IILFHUV

'XWLHVDQGIXQFWLRQVRI3URWHFWLRQ2IILFHUV  ,WVKDOOEHWKHGXW\RIWKH3URWHFWLRQ2IILFHU

D WRDVVLVWWKH0DJLVWUDWHLQWKHGLVFKDUJHRIKLVIXQFWLRQVXQGHUWKLV$FW

E WRPDNHDGRPHVWLFLQFLGHQWUHSRUWWRWKH0DJLVWUDWHLQVXFKIRUPDQGLQVXFKPDQQHUDV
PD\EHSUHVFULEHGXSRQUHFHLSWRIDFRPSODLQWRIGRPHVWLFYLROHQFHDQGIRUZDUGFRSLHV
WKHUHRIWRWKHSROLFHRIILFHULQFKDUJHRIWKHSROLFHVWDWLRQZLWKLQWKHORFDOOLPLWVRIZKRVH
MXULVGLFWLRQGRPHVWLFYLROHQFHLVDOOHJHGWRKDYHEHHQFRPPLWWHGDQGWRWKHVHUYLFHSURYLGHUV
LQWKDWDUHD

F WRPDNHDQDSSOLFDWLRQLQVXFKIRUPDQGLQVXFKPDQQHUDVPD\EHSUHVFULEHGWRWKH
0DJLVWUDWHLIWKHDJJULHYHGSHUVRQVRGHVLUHVFODLPLQJUHOLHIIRULVVXDQFHRIDSURWHFWLRQ
RUGHU

G WRHQVXUHWKDWWKHDJJULHYHGSHUVRQLVSURYLGHGOHJDODLGXQGHUWKH/HJDO6HUYLFHV
$XWKRULWLHV$FW RI DQGPDNHDYDLODEOHIUHHRIFRVWWKHSUHVFULEHGIRUPLQ
ZKLFKDFRPSODLQWLVWREHPDGH

H WRPDLQWDLQDOLVWRIDOOVHUYLFHSURYLGHUVSURYLGLQJOHJDODLGRUFRXQVHOOLQJVKHOWHUKRPHV
DQGPHGLFDOIDFLOLWLHVLQDORFDODUHDZLWKLQWKHMXULVGLFWLRQRIWKH0DJLVWUDWH

I WRPDNHDYDLODEOHDVDIHVKHOWHUKRPHLIWKHDJJULHYHGSHUVRQVRUHTXLUHVDQGIRUZDUGD
FRS\RIKLVUHSRUWRIKDYLQJORGJHGWKHDJJULHYHGSHUVRQLQDVKHOWHUKRPHWRWKHSROLFHVWDWLRQ
DQGWKH0DJLVWUDWHKDYLQJMXULVGLFWLRQLQWKHDUHDZKHUHWKHVKHOWHUKRPHLVVLWXDWHG


J WRJHWWKHDJJULHYHGSHUVRQPHGLFDOO\H[DPLQHGLIVKHKDVVXVWDLQHGERGLO\LQMXULHVDQG
IRUZDUGDFRS\RIWKHPHGLFDOUHSRUWWRWKHSROLFHVWDWLRQDQGWKH0DJLVWUDWHKDYLQJMXULVGLFWLRQ
LQWKHDUHDZKHUHWKHGRPHVWLFYLROHQFHLVDOOHJHGWRKDYHEHHQWDNHQSODFH

K WRHQVXUHWKDWWKHRUGHUIRUPRQHWDU\UHOLHIXQGHUVHFWLRQLVFRPSOLHGZLWKDQGH[HFXWHG
LQDFFRUGDQFHZLWKWKHSURFHGXUHSUHVFULEHGXQGHUWKH&RGHRI&ULPLQDO3URFHGXUH RI
 

L WRSHUIRUPVXFKRWKHUGXWLHVDVPD\EHSUHVFULEHG

 7KH3URWHFWLRQ2IILFHUVKDOOEHXQGHUWKHFRQWURODQGVXSHUYLVLRQRIWKH0DJLVWUDWHDQG
VKDOOSHUIRUPWKHGXWLHVLPSRVHGRQKLPE\WKH0DJLVWUDWHDQGWKH*RYHUQPHQWE\RUXQGHU
WKLV$FW

6HUYLFHSURYLGHUV

6HUYLFHSURYLGHUV  6XEMHFWWRVXFKUXOHVDVPD\EHPDGHLQWKLVEHKDOIDQ\YROXQWDU\
DVVRFLDWLRQUHJLVWHUHGXQGHUWKH6RFLHWLHV5HJLVWUDWLRQ$FW RI RUDFRPSDQ\
UHJLVWHUHGXQGHUWKH&RPSDQLHV$FW RI RUDQ\RWKHUODZIRUWKHWLPHEHLQJLQ
IRUFHZLWKWKHREMHFWLYHRISURWHFWLQJWKHULJKWVDQGLQWHUHVWVRIZRPHQE\DQ\ODZIXOPHDQV
LQFOXGLQJSURYLGLQJRIOHJDODLGPHGLFDOILQDQFLDORURWKHUDVVLVWDQFHVKDOOUHJLVWHULWVHOIZLWK
WKH6WDWH*RYHUQPHQWDVDVHUYLFHSURYLGHUIRUWKHSXUSRVHVRIWKLV$FW

 $VHUYLFHSURYLGHUUHJLVWHUHGXQGHUVXEVHFWLRQ  VKDOOKDYHWKHSRZHUWR

D UHFRUGWKHGRPHVWLFLQFLGHQWUHSRUWLQWKHSUHVFULEHGIRUPLIWKHDJJULHYHGSHUVRQVRGHVLUHV
DQGIRUZDUGDFRS\WKHUHRIWRWKH0DJLVWUDWHDQGWKH3URWHFWLRQ2IILFHUKDYLQJMXULVGLFWLRQLQ
WKHDUHDZKHUHWKHGRPHVWLFYLROHQFHWRRNSODFH

E JHWWKHDJJULHYHGSHUVRQPHGLFDOO\H[DPLQHGDQGIRUZDUGDFRS\RIWKHPHGLFDOUHSRUWWR
WKH3URWHFWLRQ2IILFHUDQGWKHSROLFHVWDWLRQZLWKLQWKHORFDOOLPLWVRIZKLFKWKHGRPHVWLF
YLROHQFHWRRNSODFH

F HQVXUHWKDWWKHDJJULHYHGSHUVRQLVSURYLGHGVKHOWHULQDVKHOWHUKRPHLIVKHVRUHTXLUHVDQG
IRUZDUGDUHSRUWRIWKHORGJLQJRIWKHDJJULHYHGSHUVRQLQWKHVKHOWHUKRPHWRWKHSROLFHVWDWLRQ
ZLWKLQWKHORFDOOLPLWVRIZKLFKWKHGRPHVWLFYLROHQFHWRRNSODFH

 1RVXLWSURVHFXWLRQRURWKHUOHJDOSURFHHGLQJVKDOOOLHDJDLQVWDQ\VHUYLFHSURYLGHURUDQ\
PHPEHURIWKHVHUYLFHSURYLGHUZKRLVRUZKRLVGHHPHGWREHDFWLQJRUSXUSRUWLQJWRDFW
XQGHUWKLV$FWIRUDQ\WKLQJZKLFKLVLQJRRGIDLWKGRQHRULQWHQGHGWREHGRQHLQWKHH[HUFLVH
RISRZHUVRUGLVFKDUJHRIIXQFWLRQVXQGHUWKLV$FWWRZDUGVWKHSUHYHQWLRQRIWKHFRPPLVVLRQRI
GRPHVWLFYLROHQFH

'XWLHVRI*RYHUQPHQW

'XWLHVRI*RYHUQPHQW7KH&HQWUDO*RYHUQPHQWDQGHYHU\6WDWH*RYHUQPHQWVKDOOWDNHDOO
PHDVXUHVWRHQVXUHWKDW


D WKHSURYLVLRQVRIWKLV$FWDUHJLYHQZLGHSXEOLFLW\WKURXJKSXEOLFPHGLDLQFOXGLQJWKH
WHOHYLVLRQUDGLRDQGWKHSULQWPHGLDDWUHJXODULQWHUYDOV

E WKH&HQWUDO*RYHUQPHQWDQG6WDWH*RYHUQPHQWRIILFHUVLQFOXGLQJWKHSROLFHRIILFHUVDQGWKH
PHPEHUVRIWKHMXGLFLDOVHUYLFHVDUHJLYHQSHULRGLFVHQVLWL]DWLRQDQGDZDUHQHVVWUDLQLQJRQWKH
LVVXHVDGGUHVVHGE\WKLV$FW

F HIIHFWLYHFRRUGLQDWLRQEHWZHHQWKHVHUYLFHVSURYLGHGE\FRQFHUQHG0LQLVWULHVDQG
'HSDUWPHQWVGHDOLQJZLWKODZKRPHDIIDLUVLQFOXGLQJODZDQGRUGHUKHDOWKDQGKXPDQ
UHVRXUFHVWRDGGUHVVLVVXHVRIGRPHVWLFYLROHQFHLVHVWDEOLVKHGDQGSHULRGLFDOUHYLHZRIWKH
VDPHLVFRQGXFWHG

G SURWRFROVIRUWKHYDULRXV0LQLVWULHVFRQFHUQHGZLWKWKHGHOLYHU\RIVHUYLFHVWRZRPHQXQGHU
WKLV$FWLQFOXGLQJWKHFRXUWVDUHSUHSDUHGDQGSXWLQSODFH

&+$37(5,9
352&('85()252%7$,1,1*25'(562)5(/,()6

$SSOLFDWLRQWR0DJLVWUDWH

$SSOLFDWLRQWR0DJLVWUDWH  $QDJJULHYHGSHUVRQRUD3URWHFWLRQ2IILFHURUDQ\RWKHU
SHUVRQRQEHKDOIRIWKHDJJULHYHGSHUVRQPD\SUHVHQWDQDSSOLFDWLRQWRWKH0DJLVWUDWHVHHNLQJ
RQHRUPRUHUHOLHIVXQGHUWKLV$FW

3URYLGHGWKDWEHIRUHSDVVLQJDQ\RUGHURQVXFKDSSOLFDWLRQWKH0DJLVWUDWHVKDOOWDNHLQWR
FRQVLGHUDWLRQDQ\GRPHVWLFLQFLGHQWUHSRUWUHFHLYHGE\KLPIURPWKH3URWHFWLRQ2IILFHURUWKH
VHUYLFHSURYLGHU

 7KHUHOLHIVRXJKWIRUXQGHUVXEVHFWLRQ  PD\LQFOXGHDUHOLHIIRULVVXDQFHRIDQRUGHUIRU
SD\PHQWRIFRPSHQVDWLRQRUGDPDJHVZLWKRXWSUHMXGLFHWRWKHULJKWRIVXFKSHUVRQWRLQVWLWXWH
DVXLWIRUFRPSHQVDWLRQRUGDPDJHVIRUWKHLQMXULHVFDXVHGE\WKHDFWVRIGRPHVWLFYLROHQFH
FRPPLWWHGE\WKHUHVSRQGHQW

3URYLGHGWKDWZKHUHDGHFUHHIRUDQ\DPRXQWDVFRPSHQVDWLRQRUGDPDJHVKDVEHHQSDVVHGE\
DQ\FRXUWLQIDYRXURIWKHDJJULHYHGSHUVRQWKHDPRXQWLIDQ\SDLGRUSD\DEOHLQSXUVXDQFHRI
WKHRUGHUPDGHE\WKH0DJLVWUDWHXQGHUWKLV$FWVKDOOEHVHWRIIDJDLQVWWKHDPRXQWSD\DEOH
XQGHUVXFKGHFUHHDQGWKHGHFUHHVKDOOQRWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGLQWKH&RGHRI
&LYLO3URFHGXUH RI RUDQ\RWKHUODZIRUWKHWLPHEHLQJLQIRUFHEHH[HFXWDEOH
IRUWKHEDODQFHDPRXQWLIDQ\OHIWDIWHUVXFKVHWRII

 (YHU\DSSOLFDWLRQXQGHUVXEVHFWLRQ  VKDOOEHLQVXFKIRUPDQGFRQWDLQVXFKSDUWLFXODUV
DVPD\EHSUHVFULEHGRUDVQHDUO\DVSRVVLEOHWKHUHWR

 7KH0DJLVWUDWHVKDOOIL[WKHILUVWGDWHRIKHDULQJZKLFKVKDOOQRWRUGLQDULO\EHEH\RQGWKUHH
GD\VIURPWKHGDWHRIUHFHLSWRIWKHDSSOLFDWLRQE\WKHFRXUW

 7KH0DJLVWUDWHVKDOO(QGHDYRXUWRGLVSRVHRIHYHU\DSSOLFDWLRQPDGHXQGHUVXEVHFWLRQ  
ZLWKLQDSHULRGRIVL[W\GD\VIURPWKHGDWHRILWVILUVWKHDULQJ


6HUYLFHRIQRWLFH

6HUYLFHRIQRWLFH  $QRWLFHRIWKHGDWHRIKHDULQJIL[HGXQGHUVHFWLRQVKDOOEHJLYHQ
E\WKH0DJLVWUDWHWRWKH3URWHFWLRQ2IILFHUZKRVKDOOJHWLWVHUYHGE\VXFKPHDQVDVPD\EH
SUHVFULEHGRQWKHUHVSRQGHQWDQGRQDQ\RWKHUSHUVRQDVGLUHFWHGE\WKH0DJLVWUDWHZLWKLQD
PD[LPXPSHULRGRIWZRGD\VRUVXFKIXUWKHUUHDVRQDEOHWLPHDVPD\EHDOORZHGE\WKH
0DJLVWUDWHIURPWKHGDWHRILWVUHFHLSW

 $GHFODUDWLRQRIVHUYLFHRIQRWLFHPDGHE\WKH3URWHFWLRQ2IILFHULQVXFKIRUPDVPD\EH
SUHVFULEHGVKDOOEHWKHSURRIWKDWVXFKQRWLFHZDVVHUYHGXSRQWKHUHVSRQGHQWDQGRQDQ\RWKHU
SHUVRQDVGLUHFWHGE\WKH0DJLVWUDWHXQOHVVWKHFRQWUDU\LVSURYHG
&RXQVHOOLQJ

&RXQVHOOLQJ
 7KH0DJLVWUDWHPD\DWDQ\VWDJHRIWKHSURFHHGLQJVXQGHUWKLV$FWGLUHFWWKHUHVSRQGHQWRU
WKHDJJULHYHGSHUVRQHLWKHUVLQJO\RUMRLQWO\WRXQGHUJRFRXQVHOOLQJZLWKDQ\PHPEHURID
VHUYLFHSURYLGHUZKRSRVVHVVVXFKTXDOLILFDWLRQVDQGH[SHULHQFHLQFRXQVHOOLQJDVPD\EH
SUHVFULEHG

 :KHUHWKH0DJLVWUDWHKDVLVVXHGDQ\GLUHFWLRQXQGHUVXEVHFWLRQ  KHVKDOOIL[WKHQH[W
GDWHRIKHDULQJRIWKHFDVHZLWKLQDSHULRGQRWH[FHHGLQJWZRPRQWKV

$VVLVWDQFHRIZHOIDUHH[SHUW

$VVLVWDQFHRIZHOIDUHH[SHUW,QDQ\SURFHHGLQJXQGHUWKLV$FWWKH0DJLVWUDWHPD\VHFXUH
WKHVHUYLFHVRIVXFKSHUVRQSUHIHUDEO\DZRPDQZKHWKHUUHODWHGWRWKHDJJULHYHGSHUVRQRU
QRWLQFOXGLQJDSHUVRQHQJDJHGLQSURPRWLQJIDPLO\ZHOIDUHDVKHWKLQNVILWIRUWKHSXUSRVHRI
DVVLVWLQJKLPLQGLVFKDUJLQJKLVIXQFWLRQV

3URFHHGLQJVWREHKHOGLQFDPHUD

3URFHHGLQJVWREHKHOGLQFDPHUD,IWKH0DJLVWUDWHFRQVLGHUVWKDWWKHFLUFXPVWDQFHVRIWKH
FDVHVRZDUUDQWDQGLIHLWKHUSDUW\WRWKHSURFHHGLQJVVRGHVLUHVKHPD\FRQGXFWWKH
SURFHHGLQJVXQGHUWKLV$FWLQFDPHUD

5LJKWWRUHVLGHLQDVKDUHGKRXVHKROG

5LJKWWRUHVLGHLQDVKDUHGKRXVHKROG  1RWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGLQDQ\RWKHU
ODZIRUWKHWLPHEHLQJLQIRUFHHYHU\ZRPDQLQDGRPHVWLFUHODWLRQVKLSVKDOOKDYHWKHULJKWWR
UHVLGHLQWKHVKDUHGKRXVHKROGZKHWKHURUQRWVKHKDVDQ\ULJKWWLWOHRUEHQHILFLDOLQWHUHVWLQ
WKHVDPH

 7KHDJJULHYHGSHUVRQVKDOOQRWEHHYLFWHGRUH[FOXGHGIURPWKHVKDUHGKRXVHKROGRUDQ\
SDUWRILWE\WKHUHVSRQGHQWVDYHLQDFFRUGDQFHZLWKWKHSURFHGXUHHVWDEOLVKHGE\ODZ

3URWHFWLRQRUGHUV

3URWHFWLRQRUGHUV7KH0DJLVWUDWHPD\DIWHUJLYLQJWKHDJJULHYHGSHUVRQDQGWKH
UHVSRQGHQWDQRSSRUWXQLW\RIEHLQJKHDUGDQGRQEHLQJSULPDIDFLHVDWLVILHGWKDWGRPHVWLF

YLROHQFHKDVWDNHQSODFHRULVOLNHO\WRWDNHSODFHSDVVDSURWHFWLRQRUGHULQIDYRURIWKH
DJJULHYHGSHUVRQDQGSURKLELWWKHUHVSRQGHQWIURP

D FRPPLWWLQJDQ\DFWRIGRPHVWLFYLROHQFH

E DLGLQJRUDEHWWLQJLQWKHFRPPLVVLRQRIDFWVRIGRPHVWLFYLROHQFH

F HQWHULQJWKHSODFHRIHPSOR\PHQWRIWKHDJJULHYHGSHUVRQRULIWKHSHUVRQDJJULHYHGLVD
FKLOGLWVVFKRRORUDQ\RWKHUSODFHIUHTXHQWHGE\WKHDJJULHYHGSHUVRQ

G DWWHPSWLQJWRFRPPXQLFDWHLQDQ\IRUPZKDWVRHYHUZLWKWKHDJJULHYHGSHUVRQLQFOXGLQJ
SHUVRQDORUDORUZULWWHQRUHOHFWURQLFRUWHOHSKRQLFFRQWDFW

H DOLHQDWLQJDQ\DVVHWVRSHUDWLQJEDQNORFNHUVRUEDQNDFFRXQWVXVHGRUKHOGRUHQMR\HGE\
ERWKWKHSDUWLHVMRLQWO\E\WKHDJJULHYHGSHUVRQDQGWKHUHVSRQGHQWRUVLQJO\E\WKH
UHVSRQGHQWLQFOXGLQJKHUVWULGKDQRUDQ\RWKHUSURSHUW\KHOGHLWKHUMRLQWO\E\WKHSDUWLHVRU
VHSDUDWHO\E\WKHPZLWKRXWWKHOHDYHRIWKH0DJLVWUDWH

I FDXVLQJYLROHQFHWRWKHGHSHQGDQWVRWKHUUHODWLYHVRUDQ\SHUVRQZKRJLYHWKHDJJULHYHG
SHUVRQDVVLVWDQFHIURPGRPHVWLFYLROHQFH

J FRPPLWWLQJDQ\RWKHUDFWDVVSHFLILHGLQWKHSURWHFWLRQRUGHU

5HVLGHQFHRUGHUV

5HVLGHQFHRUGHUV  :KLOHGLVSRVLQJRIDQDSSOLFDWLRQXQGHUVXEVHFWLRQ  RIVHFWLRQ
WKH0DJLVWUDWHPD\RQEHLQJVDWLVILHGWKDWGRPHVWLFYLROHQFHKDVWDNHQSODFHSDVVD
UHVLGHQFHRUGHU

D UHVWUDLQLQJWKHUHVSRQGHQWIURPGLVSRVVHVVLQJRULQDQ\RWKHUPDQQHUGLVWXUELQJWKH
SRVVHVVLRQRIWKHDJJULHYHGSHUVRQIURPWKHVKDUHGKRXVHKROGZKHWKHURUQRWWKHUHVSRQGHQW
KDVDOHJDORUHTXLWDEOHLQWHUHVWLQWKHVKDUHGKRXVHKROG

E GLUHFWLQJWKHUHVSRQGHQWWRUHPRYHKLPVHOIIURPWKHVKDUHGKRXVHKROG

F UHVWUDLQLQJWKHUHVSRQGHQWRUDQ\RIKLVUHODWLYHVIURPHQWHULQJDQ\SRUWLRQRIWKHVKDUHG
KRXVHKROGLQZKLFKWKHDJJULHYHGSHUVRQUHVLGHV

G UHVWUDLQLQJWKHUHVSRQGHQWIURPDOLHQDWLQJRUGLVSRVLQJRIIWKHVKDUHGKRXVHKROGRU
HQFXPEHULQJWKHVDPH

H UHVWUDLQLQJWKHUHVSRQGHQWIURPUHQRXQFLQJKLVULJKWVLQWKHVKDUHGKRXVHKROGH[FHSWZLWK
WKHOHDYHRIWKH0DJLVWUDWHRU

I GLUHFWLQJWKHUHVSRQGHQWWRVHFXUHVDPHOHYHORIDOWHUQDWHDFFRPPRGDWLRQIRUWKHDJJULHYHG
SHUVRQDVHQMR\HGE\KHULQWKHVKDUHGKRXVHKROGRUWRSD\UHQWIRUWKHVDPHLIWKH
FLUFXPVWDQFHVVRUHTXLUH

3URYLGHGWKDWQRRUGHUXQGHUFODXVH E VKDOOEHSDVVHGDJDLQVWDQ\SHUVRQZKRLVDZRPDQ


 7KH0DJLVWUDWHPD\LPSRVHDQ\DGGLWLRQDOFRQGLWLRQVRUSDVVDQ\RWKHUGLUHFWLRQZKLFKKH
PD\GHHPUHDVRQDEO\QHFHVVDU\WRSURWHFWRUWRSURYLGHIRUWKHVDIHW\RIWKHDJJULHYHGSHUVRQ
RUDQ\FKLOGRIVXFKDJJULHYHGSHUVRQ

 7KH0DJLVWUDWHPD\UHTXLUHIURPWKHUHVSRQGHQWWRH[HFXWHDERQGZLWKRUZLWKRXW
VXUHWLHVIRUSUHYHQWLQJWKHFRPPLVVLRQRIGRPHVWLFYLROHQFH

 $QRUGHUXQGHUVXEVHFWLRQ  VKDOOEHGHHPHGWREHDQRUGHUXQGHU&KDSWHU9,,,RIWKH
&RGHRI&ULPLQDO3URFHGXUH RI DQGVKDOOEHGHDOWZLWKDFFRUGLQJO\

 :KLOHSDVVLQJDQRUGHUXQGHUVXEVHFWLRQ  VXEVHFWLRQ  RUVXEVHFWLRQ  WKHFRXUW
PD\DOVRSDVVDQRUGHUGLUHFWLQJWKHRIILFHULQFKDUJHRIWKHQHDUHVWSROLFHVWDWLRQWRJLYH
SURWHFWLRQWRWKHDJJULHYHGSHUVRQRUWRDVVLVWKHURUWKHSHUVRQPDNLQJDQDSSOLFDWLRQRQKHU
EHKDOILQWKHLPSOHPHQWDWLRQRIWKHRUGHU

 :KLOHPDNLQJDQRUGHUXQGHUVXEVHFWLRQ  WKH0DJLVWUDWHPD\LPSRVHRQWKHUHVSRQGHQW
REOLJDWLRQVUHODWLQJWRWKHGLVFKDUJHRIUHQWDQGRWKHUSD\PHQWVKDYLQJUHJDUGWRWKHILQDQFLDO
QHHGVDQGUHVRXUFHVRIWKHSDUWLHV

 7KH0DJLVWUDWHPD\GLUHFWWKHRIILFHULQFKDUJHRIWKHSROLFHVWDWLRQLQZKRVHMXULVGLFWLRQ
WKH0DJLVWUDWHKDVEHHQDSSURDFKHGWRDVVLVWLQWKHLPSOHPHQWDWLRQRIWKHSURWHFWLRQRUGHU

 7KH0DJLVWUDWHPD\GLUHFWWKHUHVSRQGHQWWRUHWXUQWRWKHSRVVHVVLRQRIWKHDJJULHYHG
SHUVRQKHUVWULGKDQRUDQ\RWKHUSURSHUW\RUYDOXDEOHVHFXULW\WRZKLFKVKHLVHQWLWOHGWR

0RQHWDU\UHOLHIV

0RQHWDU\UHOLHIV  :KLOHGLVSRVLQJRIDQDSSOLFDWLRQXQGHUVXEVHFWLRQ  RIVHFWLRQ
WKH0DJLVWUDWHPD\GLUHFWWKHUHVSRQGHQWWRSD\PRQHWDU\UHOLHIWRPHHWWKHH[SHQVHVLQFXUUHG
DQGORVVHVVXIIHUHGE\WKHDJJULHYHGSHUVRQDQGDQ\FKLOGRIWKHDJJULHYHGSHUVRQDVDUHVXOWRI
WKHGRPHVWLFYLROHQFHDQGVXFKUHOLHIPD\LQFOXGHEXWQRWOLPLWHGWR

D WKHORVVRIHDUQLQJV

E WKHPHGLFDOH[SHQVHV

F WKHORVVFDXVHGGXHWRWKHGHVWUXFWLRQGDPDJHRUUHPRYDORIDQ\SURSHUW\IURPWKHFRQWURO
RIWKHDJJULHYHGSHUVRQDQG

G WKHPDLQWHQDQFHIRUWKHDJJULHYHGSHUVRQDVZHOODVKHUFKLOGUHQLIDQ\LQFOXGLQJDQRUGHU
XQGHURULQDGGLWLRQWRDQRUGHURIPDLQWHQDQFHXQGHUVHFWLRQRIWKH&RGHRI&ULPLQDO
3URFHGXUH RI RUDQ\RWKHUODZIRUWKHWLPHEHLQJLQIRUFH

 7KHPRQHWDU\UHOLHIJUDQWHGXQGHUWKLVVHFWLRQVKDOOEHDGHTXDWHIDLUDQGUHDVRQDEOHDQG
FRQVLVWHQWZLWKWKHVWDQGDUGRIOLYLQJWRZKLFKWKHDJJULHYHGSHUVRQLVDFFXVWRPHG

 7KH0DJLVWUDWHVKDOOKDYHWKHSRZHUWRRUGHUDQDSSURSULDWHOXPSVXPSD\PHQWRUPRQWKO\
SD\PHQWVRIPDLQWHQDQFHDVWKHQDWXUHDQGFLUFXPVWDQFHVRIWKHFDVHPD\UHTXLUH


 7KH0DJLVWUDWHVKDOOVHQGDFRS\RIWKHRUGHUIRUPRQHWDU\UHOLHIPDGHXQGHUVXEVHFWLRQ
 WRWKHSDUWLHVWRWKHDSSOLFDWLRQDQGWRWKHLQFKDUJHRIWKHSROLFHVWDWLRQZLWKLQWKHORFDO
OLPLWVRIZKRVHMXULVGLFWLRQWKHUHVSRQGHQWUHVLGHV

 7KHUHVSRQGHQWVKDOOSD\WKHPRQHWDU\UHOLHIJUDQWHGWRWKHDJJULHYHGSHUVRQZLWKLQWKH
SHULRGVSHFLILHGLQWKHRUGHUXQGHUVXEVHFWLRQ  

 8SRQWKHIDLOXUHRQWKHSDUWRIWKHUHVSRQGHQWWRPDNHSD\PHQWLQWHUPVRIWKHRUGHUXQGHU
VXEVHFWLRQ  WKH0DJLVWUDWHPD\GLUHFWWKHHPSOR\HURUDGHEWRURIWKHUHVSRQGHQWWR
GLUHFWO\SD\WRWKHDJJULHYHGSHUVRQRUWRGHSRVLWZLWKWKHFRXUWDSRUWLRQRIWKHZDJHVRU
VDODULHVRUGHEWGXHWRRUDFFUXHGWRWKHFUHGLWRIWKHUHVSRQGHQWZKLFKDPRXQWPD\EH
DGMXVWHGWRZDUGVWKHPRQHWDU\UHOLHISD\DEOHE\WKHUHVSRQGHQW

&XVWRG\RUGHUV

&XVWRG\RUGHUV1RWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGLQDQ\RWKHUODZIRUWKHWLPHEHLQJLQ
IRUFHWKH0DJLVWUDWHPD\DWDQ\VWDJHRIKHDULQJRIWKHDSSOLFDWLRQIRUSURWHFWLRQRUGHURUIRU
DQ\RWKHUUHOLHIXQGHUWKLV$FWJUDQWWHPSRUDU\FXVWRG\RIDQ\FKLOGRUFKLOGUHQWRWKH
DJJULHYHGSHUVRQRUWKHSHUVRQPDNLQJDQDSSOLFDWLRQRQKHUEHKDOIDQGVSHFLI\LIQHFHVVDU\
WKHDUUDQJHPHQWVIRUYLVLWRIVXFKFKLOGRUFKLOGUHQE\WKHUHVSRQGHQW

3URYLGHGWKDWLIWKH0DJLVWUDWHLVRIWKHRSLQLRQWKDWDQ\YLVLWRIWKHUHVSRQGHQWPD\EHKDUPIXO
WRWKHLQWHUHVWVRIWKHFKLOGRUFKLOGUHQWKH0DJLVWUDWHVKDOOUHIXVHWRDOORZVXFKYLVLW

&RPSHQVDWLRQRUGHUV

&RPSHQVDWLRQRUGHUV,QDGGLWLRQWRRWKHUUHOLHIVDVPD\EHJUDQWHGXQGHUWKLV$FWWKH
0DJLVWUDWHPD\RQDQDSSOLFDWLRQEHLQJPDGHE\WKHDJJULHYHGSHUVRQSDVVDQRUGHUGLUHFWLQJ
WKHUHVSRQGHQWWRSD\FRPSHQVDWLRQDQGGDPDJHVIRUWKHLQMXULHVLQFOXGLQJPHQWDOWRUWXUHDQG
HPRWLRQDOGLVWUHVVFDXVHGE\WKHDFWVRIGRPHVWLFYLROHQFHFRPPLWWHGE\WKDWUHVSRQGHQW

3RZHUWRJUDQWLQWHULPDQGH[SDUWHRUGHUV

3RZHUWRJUDQWLQWHULPDQGH[SDUWHRUGHUV  ,QDQ\SURFHHGLQJEHIRUHKLPXQGHUWKLV
$FWWKH0DJLVWUDWHPD\SDVVVXFKLQWHULPRUGHUDVKHGHHPVMXVWDQGSURSHU

 ,IWKH0DJLVWUDWHLVVDWLVILHGWKDWDQDSSOLFDWLRQSULPDIDFLHGLVFORVHVWKDWWKHUHVSRQGHQWLV
FRPPLWWLQJRUKDVFRPPLWWHGDQDFWRIGRPHVWLFYLROHQFHRUWKDWWKHUHLVDOLNHOLKRRGWKDWWKH
UHVSRQGHQWPD\FRPPLWDQDFWRIGRPHVWLFYLROHQFHKHPD\JUDQWDQH[SDUWHRUGHURQWKH
EDVLVRIWKHDIILGDYLWLQVXFKIRUPDVPD\EHSUHVFULEHGRIWKHDJJULHYHGSHUVRQXQGHUVHFWLRQ
VHFWLRQVHFWLRQVHFWLRQRUDVWKHFDVHPD\EHVHFWLRQDJDLQVWWKHUHVSRQGHQW

&RXUWWRJLYHFRSLHVRIRUGHUIUHHRIFRVW

&RXUWWRJLYHFRSLHVRIRUGHUIUHHRIFRVW7KH0DJLVWUDWHVKDOOLQDOOFDVHVZKHUHKHKDV
SDVVHGDQ\RUGHUXQGHUWKLV$FWRUGHUWKDWDFRS\RIVXFKRUGHUVKDOOEHJLYHQIUHHRIFRVWWR
WKHSDUWLHVWRWKHDSSOLFDWLRQWKHSROLFHRIILFHULQFKDUJHRIWKHSROLFHVWDWLRQLQWKHMXULVGLFWLRQ
RIZKLFKWKH0DJLVWUDWHKDVEHHQDSSURDFKHGDQGDQ\VHUYLFHSURYLGHUORFDWHGZLWKLQWKHORFDO

OLPLWVRIWKHMXULVGLFWLRQRIWKHFRXUWDQGLIDQ\VHUYLFHSURYLGHUKDVUHJLVWHUHGDGRPHVWLF
LQFLGHQWUHSRUWWRWKDWVHUYLFHSURYLGHU

'XUDWLRQDQGDOWHUDWLRQRIRUGHUV

'XUDWLRQDQGDOWHUDWLRQRIRUGHUV  $SURWHFWLRQRUGHUPDGHXQGHUVHFWLRQVKDOOEHLQ
IRUFHWLOOWKHDJJULHYHGSHUVRQDSSOLHVIRUGLVFKDUJH

 ,IWKH0DJLVWUDWHRQUHFHLSWRIDQDSSOLFDWLRQIURPWKHDJJULHYHGSHUVRQRUWKHUHVSRQGHQW
LVVDWLVILHGWKDWWKHUHLVDFKDQJHLQWKHFLUFXPVWDQFHVUHTXLULQJDOWHUDWLRQPRGLILFDWLRQRU
UHYRFDWLRQRIDQ\RUGHUPDGHXQGHUWKLV$FWKHPD\IRUUHDVRQVWREHUHFRUGHGLQZULWLQJSDVV
VXFKRUGHUDVKHPD\GHHPDSSURSULDWH

5HOLHILQRWKHUVXLWVDQGOHJDOSURFHHGLQJV

5HOLHILQRWKHUVXLWVDQGOHJDOSURFHHGLQJV  $Q\UHOLHIDYDLODEOHXQGHUVHFWLRQV
DQGPD\DOVREHVRXJKWLQDQ\OHJDOSURFHHGLQJEHIRUHDFLYLOFRXUWIDPLO\FRXUWRU
DFULPLQDOFRXUWDIIHFWLQJWKHDJJULHYHGSHUVRQDQGWKHUHVSRQGHQWZKHWKHUVXFKSURFHHGLQJ
ZDVLQLWLDWHGEHIRUHRUDIWHUWKHFRPPHQFHPHQWRIWKLV$FW

 $Q\UHOLHIUHIHUUHGWRLQVXEVHFWLRQ  PD\EHVRXJKWIRULQDGGLWLRQWRDQGDORQJZLWKDQ\
RWKHUUHOLHIWKDWWKHDJJULHYHGSHUVRQPD\VHHNLQVXFKVXLWRUOHJDOSURFHHGLQJEHIRUHDFLYLORU
FULPLQDOFRXUW
 ,QFDVHDQ\UHOLHIKDVEHHQREWDLQHGE\WKHDJJULHYHGSHUVRQLQDQ\SURFHHGLQJVRWKHUWKDQ
DSURFHHGLQJXQGHUWKLV$FWVKHVKDOOEHERXQGWRLQIRUPWKH0DJLVWUDWHRIWKHJUDQWRIVXFK
UHOLHI

-XULVGLFWLRQ

-XULVGLFWLRQ  7KHFRXUWRI-XGLFLDO0DJLVWUDWHRIWKHILUVWFODVVRUWKH0HWURSROLWDQ
0DJLVWUDWHDVWKHFDVHPD\EHZLWKLQWKHORFDOOLPLWVRIZKLFK

D WKHSHUVRQDJJULHYHGSHUPDQHQWO\RUWHPSRUDULO\UHVLGHVRUFDUULHVRQEXVLQHVVRULV
HPSOR\HGRU

E WKHUHVSRQGHQWUHVLGHVRUFDUULHVRQEXVLQHVVRULVHPSOR\HGRU
F WKHFDXVHRIDFWLRQKDVDULVHQ

VKDOOEHWKHFRPSHWHQWFRXUWWRJUDQWDSURWHFWLRQRUGHUDQGRWKHURUGHUVXQGHUWKLV$FWDQGWR
WU\RIIHQFHVXQGHUWKLV$FW

 $Q\RUGHUPDGHXQGHUWKLV$FWVKDOOEHHQIRUFHDEOHWKURXJKRXW,QGLD

3URFHGXUH

3URFHGXUH  6DYHDVRWKHUZLVHSURYLGHGLQWKLV$FWDOOSURFHHGLQJVXQGHUVHFWLRQV
DQGDQGRIIHQFHVXQGHUVHFWLRQVKDOOEHJRYHUQHGE\WKHSURYLVLRQVRI
WKH&RGHRI&ULPLQDO3URFHGXUH RI 


 1RWKLQJLQVXEVHFWLRQ  VKDOOSUHYHQWWKHFRXUWIURPOD\LQJGRZQLWVRZQSURFHGXUHIRU
GLVSRVDORIDQDSSOLFDWLRQXQGHUVHFWLRQRUXQGHUVXEVHFWLRQ  RIVHFWLRQ

$SSHDO

$SSHDO7KHUHVKDOOOLHDQDSSHDOWRWKH&RXUWRI6HVVLRQZLWKLQWKLUW\GD\VIURPWKHGDWH
RQZKLFKWKHRUGHUPDGHE\WKH0DJLVWUDWHLVVHUYHGRQWKHDJJULHYHGSHUVRQRUWKHUHVSRQGHQW
DVWKHFDVHPD\EHZKLFKHYHULVODWHU

&+$37(59

0,6&(//$1(286

3URWHFWLRQ2IILFHUVDQGPHPEHUVRIVHUYLFHSURYLGHUVWREHSXEOLFVHUYDQWV

3URWHFWLRQ2IILFHUVDQGPHPEHUVRIVHUYLFHSURYLGHUVWREHSXEOLFVHUYDQWV7KH3URWHFWLRQ
2IILFHUVDQGPHPEHUVRIVHUYLFHSURYLGHUVZKLOHDFWLQJRUSXUSRUWLQJWRDFWLQSXUVXDQFHRI
DQ\RIWKHSURYLVLRQVRIWKLV$FWRUDQ\UXOHVRURUGHUVPDGHWKHUHXQGHUVKDOOEHGHHPHGWREH
SXEOLFVHUYDQWVZLWKLQWKHPHDQLQJRIVHFWLRQRIWKH,QGLDQ3HQDO&RGH RI 

3HQDOW\IRUEUHDFKRISURWHFWLRQRUGHUE\UHVSRQGHQW
3HQDOW\IRUEUHDFKRISURWHFWLRQRUGHUE\UHVSRQGHQW  $EUHDFKRISURWHFWLRQRUGHURU
RIDQLQWHULPSURWHFWLRQRUGHUE\WKHUHVSRQGHQWVKDOOEHDQRIIHQFHXQGHUWKLV$FWDQGVKDOOEH
SXQLVKDEOHZLWKLPSULVRQPHQWRIHLWKHUGHVFULSWLRQIRUDWHUPZKLFKPD\H[WHQGWRRQH\HDU
RUZLWKILQHZKLFKPD\H[WHQGWRWZHQW\WKRXVDQGUXSHHVRUZLWKERWK

 7KHRIIHQFHXQGHUVXEVHFWLRQ  VKDOODVIDUDVSUDFWLFDEOHEHWULHGE\WKH0DJLVWUDWHZKR
KDGSDVVHGWKHRUGHUWKHEUHDFKRIZKLFKKDVEHHQDOOHJHGWRKDYHEHHQFDXVHGE\WKHDFFXVHG

 :KLOHIUDPLQJFKDUJHVXQGHUVXEVHFWLRQ  WKH0DJLVWUDWHPD\DOVRIUDPHFKDUJHVXQGHU
VHFWLRQ$RIWKH,QGLDQ3HQDO&RGH RI RUDQ\RWKHUSURYLVLRQRIWKDW&RGHRUWKH
'RZU\3URKLELWLRQ$FW RI DVWKHFDVHPD\EHLIWKHIDFWVGLVFORVHWKH
FRPPLVVLRQRIDQRIIHQFHXQGHUWKRVHSURYLVLRQV

&RJQL]DQFHDQGSURRI

&RJQL]DQFHDQGSURRI  1RWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGLQWKH&RGHRI&ULPLQDO
3URFHGXUH RI WKHRIIHQFHXQGHUVXEVHFWLRQ  RIVHFWLRQVKDOOEH
FRJQL]DEOHDQGQRQEDLODEOH

 8SRQWKHVROHWHVWLPRQ\RIWKHDJJULHYHGSHUVRQWKHFRXUWPD\FRQFOXGHWKDWDQRIIHQFH
XQGHUVXEVHFWLRQ  RIVHFWLRQKDVEHHQFRPPLWWHGE\WKHDFFXVHG

3HQDOW\IRUQRWGLVFKDUJLQJGXW\E\3URWHFWLRQ2IILFHU

3HQDOW\IRUQRWGLVFKDUJLQJGXW\E\3URWHFWLRQ2IILFHU,IDQ\3URWHFWLRQ2IILFHUIDLOVRU
UHIXVHVWRGLVFKDUJHKLVGXWLHVDVGLUHFWHGE\WKH0DJLVWUDWHLQWKHSURWHFWLRQRUGHUZLWKRXWDQ\
VXIILFLHQWFDXVHKHVKDOOEHSXQLVKHGZLWKLPSULVRQPHQWRIHLWKHUGHVFULSWLRQIRUDWHUPZKLFK

PD\H[WHQGWRRQH\HDURUZLWKILQHZKLFKPD\H[WHQGWRWZHQW\WKRXVDQGUXSHHVRUZLWK
ERWK

&RJQL]DQFHRIRIIHQFHFRPPLWWHGE\3URWHFWLRQ2IILFHU

&RJQL]DQFHRIRIIHQFHFRPPLWWHGE\3URWHFWLRQ2IILFHU1RSURVHFXWLRQRURWKHUOHJDO
SURFHHGLQJVKDOOOLHDJDLQVWWKH3URWHFWLRQ2IILFHUXQOHVVDFRPSODLQWLVILOHGZLWKWKHSUHYLRXV
VDQFWLRQRIWKH6WDWH*RYHUQPHQWRUDQRIILFHUDXWKRULVHGE\LWLQWKLVEHKDOI

3URWHFWLRQRIDFWLRQWDNHQLQJRRGIDLWK

3URWHFWLRQRIDFWLRQWDNHQLQJRRGIDLWK1RVXLWSURVHFXWLRQRURWKHUOHJDOSURFHHGLQJVKDOO
OLHDJDLQVWWKH3URWHFWLRQ2IILFHUIRUDQ\GDPDJHFDXVHGRUOLNHO\WREHFDXVHGE\DQ\WKLQJ
ZKLFKLVLQJRRGIDLWKGRQHRULQWHQGHGWREHGRQHXQGHUWKLV$FWRUDQ\UXOHRURUGHUPDGH
WKHUHXQGHU

$FWQRWLQGHURJDWLRQRIDQ\RWKHUODZ

$FWQRWLQGHURJDWLRQRIDQ\RWKHUODZ7KHSURYLVLRQVRIWKLV$FWVKDOOEHLQDGGLWLRQWR
DQGQRWLQGHURJDWLRQRIWKHSURYLVLRQVRIDQ\RWKHUODZIRUWKHWLPHEHLQJLQIRUFH
3RZHURI&HQWUDO*RYHUQPHQWWRPDNHUXOHV

3RZHURI&HQWUDO*RYHUQPHQWWRPDNHUXOHV  7KH&HQWUDO*RYHUQPHQWPD\E\
QRWLILFDWLRQPDNHUXOHVIRUFDUU\LQJRXWWKHSURYLVLRQVRIWKLV$FW

 ,QSDUWLFXODUDQGZLWKRXWSUHMXGLFHWRWKHJHQHUDOLW\RIWKHIRUHJRLQJSRZHUVXFKUXOHVPD\
SURYLGHIRUDOORUDQ\RIWKHIROORZLQJPDWWHUVQDPHO\

D WKHTXDOLILFDWLRQVDQGH[SHULHQFHZKLFKD3URWHFWLRQ2IILFHUVKDOOSRVVHVVXQGHUVXE
VHFWLRQ  RIVHFWLRQ

E WKHWHUPVDQGFRQGLWLRQVRIVHUYLFHRIWKH3URWHFWLRQ2IILFHUVDQGWKHRWKHURIILFHUV
VXERUGLQDWHWRKLPXQGHUVXEVHFWLRQ  RIVHFWLRQ

F WKHIRUPDQGPDQQHULQZKLFKDGRPHVWLFLQFLGHQWUHSRUWPD\EHPDGHXQGHUFODXVH E RI
VXEVHFWLRQ  RIVHFWLRQ

G WKHIRUPDQGWKHPDQQHULQZKLFKDQDSSOLFDWLRQIRUSURWHFWLRQRUGHUPD\EHPDGHWRWKH
0DJLVWUDWHXQGHUFODXVH F RIVXEVHFWLRQ  RIVHFWLRQ

H WKHIRUPLQZKLFKDFRPSODLQWLVWREHILOHGXQGHUFODXVH G RI
VXEVHFWLRQ  RIVHFWLRQ

I WKHRWKHUGXWLHVWREHSHUIRUPHGE\WKH3URWHFWLRQ2IILFHUXQGHUFODXVH L RIVXEVHFWLRQ  
RIVHFWLRQ

J WKHUXOHVUHJXODWLQJUHJLVWUDWLRQRIVHUYLFHSURYLGHUVXQGHUVXEVHFWLRQ  RIVHFWLRQ


K WKHIRUPLQZKLFKDQDSSOLFDWLRQXQGHUVXEVHFWLRQ  RIVHFWLRQVHHNLQJUHOLHIVXQGHU
WKLV$FWPD\EHPDGHDQGWKHSDUWLFXODUVZKLFKVXFKDSSOLFDWLRQVKDOOFRQWDLQXQGHUVXE
VHFWLRQ  RIWKDWVHFWLRQ

L WKHPHDQVRIVHUYLQJQRWLFHVXQGHUVXEVHFWLRQ  RIVHFWLRQ

M WKHIRUPRIGHFODUDWLRQRIVHUYLFHRIQRWLFHWREHPDGHE\WKH3URWHFWLRQ2IILFHUXQGHUVXE
VHFWLRQ  RIVHFWLRQ

N WKHTXDOLILFDWLRQVDQGH[SHULHQFHLQFRXQVHOOLQJZKLFKDPHPEHURIWKHVHUYLFHSURYLGHU
VKDOOSRVVHVVXQGHUVXEVHFWLRQ  RIVHFWLRQ

O WKHIRUPLQZKLFKDQDIILGDYLWPD\EHILOHGE\WKHDJJULHYHGSHUVRQXQGHUVXEVHFWLRQ  RI
VHFWLRQ

P DQ\RWKHUPDWWHUZKLFKKDVWREHRUPD\EHSUHVFULEHG

 (YHU\UXOHPDGHXQGHUWKLV$FWVKDOOEHODLGDVVRRQDVPD\EHDIWHULWLVPDGHEHIRUHHDFK
+RXVHRI3DUOLDPHQWZKLOHLWLVLQVHVVLRQIRUDWRWDOSHULRGRIWKLUW\GD\VZKLFKPD\EH
FRPSULVHGLQRQHVHVVLRQRULQWZRRUPRUHVXFFHVVLYHVHVVLRQVDQGLIEHIRUHWKHH[SLU\RIWKH
VHVVLRQLPPHGLDWHO\IROORZLQJWKHVHVVLRQRUWKHVXFFHVVLYHVHVVLRQVDIRUHVDLGERWK+RXVHV
DJUHHLQPDNLQJDQ\PRGLILFDWLRQLQWKHUXOHRUERWK+RXVHVDJUHHWKDWWKHUXOHVKRXOGQRWEH
PDGHWKHUXOHVKDOOWKHUHDIWHUKDYHHIIHFWRQO\LQVXFKPRGLILHGIRUPRUEHRIQRHIIHFWDVWKH
FDVHPD\EHVRKRZHYHUWKDWDQ\VXFKPRGLILFDWLRQRUDQQXOPHQWVKDOOEHZLWKRXWSUHMXGLFH
WRWKHYDOLGLW\RIDQ\WKLQJSUHYLRXVO\GRQHXQGHUWKDWUXOH

























You might also like