Provided by the author(s) and NUI Galway in accordance with publisher policies.

Please cite the published

version when available.

Title Legal briefing: Travellers

Author(s) Kenna, Padraic

Publication 2009
Date

Publication Kenna, P., & Crowe, O. (2009). Legal briefing: Travellers.

Information Dublin: Centre for Housing Research.

Publisher Centre for Housing Research

Link to http://www.housing.ie/_fileupload/Fellowship%20Scheme/Tra
publisher's vellers_05.pdf
version

Item record http://hdl.handle.net/10379/1774

Downloaded 2020-02-16T19:47:15Z

Some rights reserved. For more information, please see the item record link above.

+VMZ


0IKEP&VMI´RKW
4RAVELLERS
;VMXXIRF]3VPE'VS[I
(V4EHVEMG/IRRE29-+EP[E]

0IKMWPEXMSR
7IGXMSRSJXLI)PVTJOH
"DU
KEZITS[IVXSXLIPSGEPEYXLSVMXMIW
XSTVSZMHIH[IPPMRKWERHMXJSVQIHXLIFEWMWSJXLIPIKEPHYX]YRHIV
WXEXYXISRPSGEPEYXLSVMXMIWXSTVSZMHIEGGSQQSHEXMSRJSV8VEZIPPIVWJSV
SZIVX[IRX]]IEVW

,S[IZIVXLI´VWX%GXVIJIVVMRKHMVIGXP]XS8VEZIPPIVW[EWXLI)PVTJOH

"DU
,% 7IGXMSR WXEXIWXLEXXLILSYWMRKEYXLSVMXMIW
QYWXLEZIVIKEVHXSXLILSYWMRKRIIHWSJGIVXEMRGEXIKSVMIWSJ
TISTPIMRGPYHMRK8VEZIPPIVWERHQYWXGEVV]SYXEREWWIWWQIRXSJ
XLIMVRIIHWIZIV]XLVII]IEVW8LMW%GXEPWSMRMXMEXIHWTIGM´GPSGEP
EYXLSVMX]SFPMKEXMSRWXSQEOIEVVERKIQIRXWJSVXLIEGGSQQSHEXMSR
SJELSQIPIWWTIVWSRKMZIXLITIVWSREWWMWXERGISVEVVERKIJSV
EGGSQQSHEXMSRSVPSHKMRKWJSVLMQLIV7IGXMSRSJXLI)PVTJOH

.JTDFMMBOFPVT
1SPWJTJPOT

"DU
,% YTHEXIWXLMWEWWMWXERGI
SJPSGEPEYXLSVMXMIWXSXLILSQIPIWWXSMRGPYHIEQSRKSXLIVWWMXIW
JSVGEVEZERW

8LIQSWXMQTSVXERX%GXMRVIGIRXXMQIWGSRGIVRMRKQIQFIVWSJXLI
8VEZIPPIV'SQQYRMX]MWXLI)PVTJOH
5SBWFMMFS
"DDPNNPEBUJPO

"DU

,% -XEQIRHIHWIGXMSRSJXLI,%F]EPPS[MRKXLI
PSGEPEYXLSVMXMIWXSTVSZMHIERHQEMRXEMRVIWMHIRXMEPGEVEZERWMXIWJSV
8VEZIPPIVWERHTVSZMHIE[MHIVERKISJWYTTSVXWIVZMGIW8VEZIPPIVWEVI
HIWGVMFIHMRXLI,%EWXLSWIFIPSRKMRKXSXLIGPEWWSJTIVWSRW
[LSXVEHMXMSREPP]TYVWYISVLEZITYVWYIHERSQEHMG[E]SJPMJI

0SGEPEYXLSVMXMIWEVISFPMKIHXSGEVV]SYXEREWWIWWQIRXSJ8VEZIPPIV
EGGSQQSHEXMSRRIIHWERHXSHVE[YTERHEHSTXERI[8VEZIPPIV
%GGSQQSHEXMSR4VSKVEQQI8%4 IZIV]´ZI]IEVW[LMGLHIXEMPW
XLIWIRIIHWERHLS[XLIPSGEPEYXLSVMX][MPPEHHVIWWXLIQ8LI
PSGEPEYXLSVMX]QYWXXEOIVIEWSREFPIWXITWXSIRWYVIXLEXXLI
EGGSQQSHEXMSRTVSKVEQQIMWMQTPIQIRXIH
 XVEZIPPIVW

-RQEOMRKEREWWIWWQIRXYRHIVXLI,%XLIPSGEPEYXLSVMX]QYWX
XEOIMRXSEGGSYRXXLIRIIHJSVLEPXMRKWMXIWMRMXWJYRGXMSREPEVIEXLI
EVIEMXMWVIWTSRWMFPIJSV -XQE]MQTPIQIRXXLMWF]HMVIGXP]TVSZMHMRK
EGGSQQSHEXMSREWWMWXMRK8VEZIPPIVWMRXLITVSZMWMSRSJEGGSQQSHEXMSR
IMXLIVF]XLIPSGEPEYXLSVMX]SVEZSPYRXEV]FSH] FY]MRKPERHJSVE
LEPXMRKWMXITPYWXLIGSWXSJGSRWXVYGXMSRXSWIXYTXLIWMXI SVTVSZMHMRK
PSERWJSVXLITYVGLEWISJGEVEZERWERHXLIVITEMVSJGEVEZERW8LIPSGEP
EYXLSVMX]WLSYPHQEREKIMQTVSZIERHGSRXVSPMXWWMXIEW[IPPEWGEVV]
SYXER][SVOWMRGMHIRXEPXSXLMWHYX]WYGLEWTVSZMHMRKWIVZMGIWXSXLI
WMXI-X[EWLIPHMR3«6IMPP]Z0MQIVMGO'SYRX]'SYRGMPXLEXXLI'SYRX]
'SYRGMP«WHIZIPSTQIRXTPER[EWMRGSQTPIXIEWªSRMXWJEGI«MXHMHRSX
MRGPYHIER]MRXIRXMSRWJSVXLIYWISJTEVXMGYPEVEVIEWMRTVSZMHMRK
8VEZIPPIVEGGSQQSHEXMSR

8LIPSGEPEYXLSVMX]QYWXEPWSI\EQMRIXLIRIIHJSVXVERWMIRXWMXIWMI
WMXIWJSV8VEZIPPIVW[MXLPMQMXIHJEGMPMXMIWJSVYWISXLIVXLER[LIVIXLI]
RSVQEPP]PMZISV[LMPI[EMXMRKJSVTIVQERIRXEGGSQQSHEXMSR 

%PSGEPEYXLSVMX]QYWXETTSMRXE0SGEP8VEZIPPIV%GGSQQSHEXMSR
'SRWYPXEXMZI'SQQMXXIIXSEHZMWISRTVSZMHMRKERHQEREKMRK
XLIEGGSQQSHEXMSRSJ8VEZIPPIVW8LMWEPWSTVSZMHIWEJSVYQJSV
GSSTIVEXMSRFIX[IIR8VEZIPPIVWQIQFIVWSJXLIPSGEPEYXLSVMX]ERH
XLIKIRIVEPTYFPMG'SRWYPXEXMSR[MXL8VEZIPPIVWTPE]WEGIRXVEPVSPIMRXLI
TVITEVEXMSRERHMQTPIQIRXEXMSRSJXLIPSGEPEGGSQQSHEXMSRWGLIQIW
8LI,%EPWSTVSZMHIWJSVE2EXMSREP8VEZIPPIV'SRWYPXEXMZI'SQQMXXII
XSEHZMWIXLI1MRMWXIV

7IGXMSRSJXLI,%HIEPW[MXLXLITS[IVWSJXLI1EREKIVSJE
PSGEPEYXLSVMX]MRERIQIVKIRG]WMXYEXMSR8LI1EREKIVQYWXVITSVXXS
XLIIPIGXIHQIQFIVWFIJSVIER][SVOWEVIGEVVMIHSYXSVEGSQQMXQIRX
MWQEHIXSI\TIRHMXYVI,S[IZIVXLMWWIGXMSRHSIWRSXWXSTLMQLIVJVSQ
HIEPMRK[MXLSYXHIPE][MXLERIQIVKIRG]WMXYEXMSRMI[LIVIXLI[SVOW
GSRGIVRIHEVIYVKIRXERHRIGIWWEV]

8LITS[IVWSJXLI'MX]SV'SYRGMP1EREKIVMRERIQIVKIRG]WMXYEXMSRLEZI
FIIRGLEPPIRKIHSRERYQFIVSJSGGEWMSRW-R;EVHZ(SRIKEP'SYRX]
'SYRGMPXLIETTPMGERXWEVKYIHXLEXXLIPSGEPEYXLSVMX]LEHJEMPIHXS
GSRWMHIVXLIMVRIIHWJSVEGGSQQSHEXMSRMRPMRI[MXLMXWWXEXYXSV]HYXMIW
;LMPIEREGGSQQSHEXMSRTVSKVEQQIYRHIVXLI,%LEHFIIRHVE[R
YTMXGSYPHRSXFIMQTPIQIRXIHWMRGIXLIVI[EWRSWTIGM´GTVSZMWMSRJSV
8VEZIPPIVEGGSQQSHEXMSRMRXLIHVEJXHIZIPSTQIRXTPER8LIGSYVXLIPH
XLEXXLI'SYRX]1EREKIVLEHVIXEMRIHLMWIQIVKIRG]TS[IVWXSTVSZMHI
IQIVKIRG]EGGSQQSHEXMSRMRFVIEGLSJXLIHIZIPSTQIRXTPERJSVXLI
EVIEFYXXLIJEMPYVIXSGSRWYPX[MXLPSGEPVIWMHIRXWQEHIXLIIQIVKIRG]
EGXMSRYRPE[JYP

0IKEP&VMI´RKW 
 XVEZIPPIVW

-R&]VRIZ*MRKEP'SYRX]'SYRGMP[LIRYWMRKLMWIQIVKIRG]TS[IVW
YRHIVXLI8VEZIPPIVEGGSQQSHEXMSRWGLIQIXLI'SYRX]1EREKIVEPWSHMH
RSXGSQTP][MXLEGSRHMXMSRMRXLI'SYRX]«WHIZIPSTQIRXTPERXLEXPSGEP
GSQQYRMXMIWFIGSRWYPXIHMREPP8VEZIPPIVEGGSQQSHEXMSRTVSNIGXW8LI
GSYVXLIPHXLEXXLMWEQSYRXIHXSEQEXIVMEPGSRXVEZIRXMSRSJXLI*MRKEP
(IZIPSTQIRX4PER

8LIGEWISJ.IJJIVWZ0SYXL'SYRX]'SYRGMPLIPHXLEXEGSYRX]'SYRGMP
GSYPHRSXHIZIPSTETVSTSWIHLEPXMRKWMXIYRPIWWERHYRXMPEQSRK
SXLIVVIUYMVIQIRXWJYPPERHQIERMRKJYPGSRWYPXEXMSRLEHXEOIRTPEGI
[MXLXLITYFPMG

8LIPSGEPEYXLSVMXMIWLEZIXLITS[IVXLIIZMGX8VEZIPPIVWJVSQXIQTSVEV]
LEPXMRKWMXIW8LI-PDBM
(PWFSONFOU
4BOJUBSZ
4FSWJDFT

"DU
EPPS[W
XLIPSGEPEYXLSVMXMIWXSQEOIF]IPE[WXSVIKYPEXIXLIYWISJGEVEZERW
MRXLIMVJYRGXMSREPEVIE-XEPPS[WJSVTVSLMFMXMSRSVHIVWXSFIQEHI
XSTVIZIRXGEVEZERWFIMRKOITXMRGIVXEMREVIEW[LIVIXLI]GEYWIE
RYMWERGISJWSQIOMRH

-R0MWXS[IP9('Z1G(SREKLXLIHIJIRHERXGLEPPIRKIHEF]IPE[F]
XLI'SYRGMPTVSLMFMXMRKXLIIVIGXMSRSJXIQTSVEV]H[IPPMRKW8LIGSYVX
VIJYWIHXSEGGITXXLEXXLI'SYRGMP[EWQSXMZEXIHF]ERXM8VEZIPPIVFMEW
[LIRMXQEHIXLIF]IPE[MRUYIWXMSREWXLI'SYRGMPLEHEQTPIIZMHIRGI
XSGSQIXSERMRJSVQIHSTMRMSRXLEXXLIXIQTSVEV]H[IPPMRKWMRXLIEVIE
GSZIVIHF]XLIF]IPE[[IVIYRWERMXEV]

8LI,%EPWSEPPS[WPSGEPEYXLSVMXMIWXSVIQSZI8VEZIPPIVW[LSEVI
GEQTIHYRSJ´GMEPP]XSERSJ´GMEPWMXIER][LIVI[MXLMREROQVEHMYW
8LMWQE]SGGYV[LIVIXLILSYWMRKEYXLSVMX]FIPMIZIWXLEXXLIWMXIJSVXLI
XIQTSVEV]H[IPPMRKWMWYR´XJSVLYQERLEFMXEXMSRMWPMOIP]XSMRXIVJIVI
[MXLWIVZMGIWIMXLIVTYFPMGSVTVMZEXISVQE]VITVIWIRXEPEVKILIEPXLSV
WEJIX]VMWO

8LI3PBET
"DU
TVSZMHIWXLEXER]TIVWSR[LSTEVOWEGEVEZERSR
EREXMSREPVSEHFYW[E]QSXSV[E]SVTVSXIGXIHVSEHWLEPPFIKYMPX]SJ
ERSJJIRGI%+EVHEQE]VIQSZIXLIGEVEZERWXSVIMXYRXMPGPEMQIHF]MXW
S[RIVSVMJMXMWRSXGPEMQIHEJXIVETIVMSHMXGERFIHMWTSWIHSJ

7IGXMSRSJXLI)PVTJOH
.JTDFMMBOFPVT
1SPWJTJPOT

/P


"DU

GVMQMREPMWIWXVIWTEWWSRTYFPMGPERHJSVXLI´VWXXMQI-XQEOIWXVIWTEWW
SRPERH[MXLERªSFNIGX«EXIVQ[LMGLMRGPYHIWEGEVEZEREGVMQMREP
SJJIRGI8LITVSZMWMSRIQTS[IVWXLI+EVHEuXSEWOE8VEZIPPIVGEQTIH
SRTYFPMGPERHXSPIEZIXLEXPERHERHVIQSZIEPPSFNIGXWSRXLIPERH
MQQIHMEXIP]SRJSSXSJEGSQTPEMRX-JXLMWMWRSXGSQTPMIH[MXLXLI
MRHMZMHYEPMWKYMPX]SJERSJJIRGIERHXLI+EVHEuGERGSR´WGEXIERH
MQTSYRHGEVEZERWERHEVVIWXETIVWSR[MXLSYX[EVVERX

0IKEP&VMI´RKW 
 XVEZIPPIVW

'EWI0E[
8LIPSGEPEYXLSVMXMIW«SFPMKEXMSRWXS8VEZIPPIVWLEZIFIIRI\EQMRIHSR
ERYQFIVSJSGGEWMSRWF]XLI-VMWLGSYVXW-R9RMZIVWMX]SJ0MQIVMGOZ
6]ERXLIGSYVXWEMHXLEXXLIHYX]SJXLIPSGEPEYXLSVMX]YRHIVXLI
,%XSTVSZMHIJSVXLIRIIHWSJ8VEZIPPIVWI\XIRHIHXSTVSZMHMRK
GEVEZERWMXIWERHRSXSRP]H[IPPMRKWSVLSYWIW

-R'SYRX]1IEXL:SGEXMSREP)HYGEXMSR'SQQMXXIIZ.S]GIMX[EW
LIPHXLEXXLIPSGEPEYXLSVMX]LEWEHYX]XSTVSZMHIJSVXLIRIIHW
SJ8VEZIPPIVWERHXLMWHYX]QYWXFITIVJSVQIHMREVIEWSREFPIERH
VEXMSREPQERRIVERHMRZSPZIXLIEHSTXMSRSJEJEMVERHGSLIVIRX
W]WXIQSJEPPSGEXMRKLSYWMRKWMXIWXSTIVWSRWMRGPYHIHMRXLI
EWWIWWQIRXSJRIIHW

-RVIGIRX]IEVWQER]GLEPPIRKIWLEZIFIIRXEOIRF]8VEZIPPIVW
GPEMQMRKXLEXXLIPSGEPEYXLSVMX]LEWJEMPIHXSTVSZMHIWYMXEFPI
EGGSQQSHEXMSRERHLEWFVIEGLIHMXWWXEXYXSV]HYX]YRHIVXLI,SYWMRK
%GXW8LIGEWISJ3«(SRSKLYIZ0MQIVMGO'SVTSVEXMSRGSRGIVRIH
NYHMGMEPVIZMI[TVSGIIHMRKW[LIVIXLIETTPMGERXWGPEMQIHXLEXXLI
VIWTSRHIRX[EWSFPMKIHXSTVSZMHILEPXMRKWMXIEGGSQQSHEXMSR
8LIETTPMGERXW[IVIQSZIHXSELEPXMRKWMXI[LMGL[EWI\XVIQIP]
YRWYMXEFPIERHYRL]KMIRMG[MXLRSJEGMPMXMIWERHXLI]XLIVIJSVI
GEQTIHSRERYREYXLSVMWIHWMXIMRWXIEH8LI][IVISJJIVIHLSYWMRK
EGGSQQSHEXMSRF]XLIPSGEPEYXLSVMX][LMGLXLI]VIJYWIH

8LIGSYVXEKVIIH[MXLXLIETTPMGERXWERHVYPIHXLEXXLIPSGEPEYXLSVMX]
[EWSFPMKIHXSTVSZMHI8VEZIPPIVEGGSQQSHEXMSRYRHIVXLI,%
;LMPIXLIGSYVXEKVIIHXLEXMXHMHRSXLEZIXLITS[IVXSSVHIVXLI
TVSZMWMSRSJLEPXMRKWMXIWXLIPSGEPEYXLSVMX]LIVILEHHIXIVQMRIH
MXWTVMSVMXMIWMRMXW8%4 FYXLEHRSXQEHIEREXXIQTXXSQIIX
XLIWIVIUYMVIQIRXW8LIETTPMGERXWLEHEVMKLXXSVIJYWILSYWMRK
EGGSQQSHEXMSRVEXLIVXLERWMXIEGGSQQSHEXMSR2SIZMHIRGI[EW
KMZIRXLEXXLIVIWTSRHIRX[EWPEGOMRKVIWSYVGIWXSQIIXXLIYVKIRX
RIIHSJXLIETTPMGERXWJSVEXIQTSVEV]WMXI[MXLPMQMXIHJEGMPMXMIW8LI
VIWTSRHIRXLEHXLIVIJSVIJEMPIHMRMXWWXEXYXSV]SFPMKEXMSRXSTVSZMHIE
WMXIJSVXLIGEVEZERWSJXLIETTPMGERXW

-R1G(SREKLZ'PEVI'SYRX]'SYRGMPXLIVIUYMVIQIRXXLEX8VEZIPPIVW
PMZIMRXLIEVIESJXLI'SYRGMPXSUYEPMJ]JSVPSGEPEYXLSVMX]LSYWMRK[EW
I\EQMRIH-X[EWLIPHXLEXXLIXLVII]IEVVIWMHIRG]VIUYMVIQIRXLIVI
[EWPE[JYPEWPSRKEWMX[EWRSXETTPMIHWSWXVMGXP]EWXSFIGSQIEFEV
XSGSRWMHIVMRKERETTPMGEXMSRJSVEWWMWXERGI

0IKEP&VMI´RKW 
 XVEZIPPIVW

-XEPWSLIPHXLEX[LMPIXLIPSGEPEYXLSVMX]MWSFPMKIHXSOIITERSTIR
QMRHEWXS[LSMWIRXMXPIHXSLSYWMRKMXRIIHRSXMKRSVIJSVQWSJ
EGGSQQSHEXMSRXLEX[IVIEZEMPEFPIXSXLIETTPMGERXMRXLITEWX;LMPIXLI
ETTPMGERXQE]I\TVIWWETVIJIVIRGIJSVEX]TISJEGGSQQSHEXMSRXLIVI
MWRSSFPMKEXMSRXSMQQIHMEXIP]TVSZMHIXLMWX]TISJEGGSQQSHEXMSREW
XLIPSGEPEYXLSVMX]QYWXEPWSLEZIVIKEVHXSEPPSXLIVTISTPI[LSLEZI
LSYWMRKRIIHW

-R(SLIVX]
%RSVZ7SYXL(YFPMR'SYRX]'SYRGMPERH3VW
'LEVPIXSR.VIJYWIHXS´RHEFVIEGLSJXLI)',6SFPMKEXMSRWMR
GMVGYQWXERGIW[LIVIERIPHIVP]8VEZIPPIVGSYTPIMRTSSVLIEPXLPMZMRKMRE
GEVEZER[MXLSRP]FEWMGIPIGXVMGMX]RSMRXIVREPTPYQFMRKXSMPIXSVGIRXVEP
LIEXMRK[IVIVIJYWIHEGIRXVEPP]LIEXIHMRWYPEXIHERHTPYQFIHGEVEZER
8LIIPHIVP]GSYTPILEHVIJYWIHERSJJIVSJEX[SFIHVSSQIHKVSYRHµSSV
ETEVXQIRX

,S[IZIVMR3«(SRRIPPZ7SYXL(YFPMR'SYRX]'SYRGMP0EJJS].JSYRH
XLEXXLIVILEHFIIREFVIEGLSJ)',6EVXSFPMKEXMSRW[LIVIXLIPSGEP
EYXLSVMX]LEHJEMPIHXSTVSZMHIEWIGSRHGEVEZERJSVXLVIIWIZIVIP]
HMWEFPIH8VEZIPPIVGLMPHVIRPMZMRKMREQSFMPILSQISREXIQTSVEV]WMXI
8LI'SYVXSVHIVIHXLEXXLIPSGEPEYXLSVMX]TVSZMHIE[LIIPGLEMVEGGIWWMFPI
GEVEZER[MXLMRHSSVERH[LIIPGLEMVEGGIWWMFPIWLS[IVXSMPIXWERMXEV]
JEGMPMXMIWERHGIRXVEPLIEXMRK0EJJS].HMWXMRKYMWLIHXLMWGEWIJVSQ(SLIVX]
SRXLIKVSYRHWSJXLIPIZIPSJHMWEFMPMX]ERHHITIRHIRG]SJXLIGLMPHVIR
XLIHIKVIISJGEVIERHWYTIVZMWMSRVIUYMVIHERHXLIETTEPPMRKLSYWMRK
GSRHMXMSRWMR[LMGLXLI][IVIPMZMRK8LIGSYVXLIPHXLEXIZIRMRXLI
EFWIRGISJEWXEXYXSV]VIUYMVIQIRXEPSGEPEYXLSVMX]QE]FIJSYRHXS
LEZIEGXIHSVJEMPIHXSEGX MRFVIEGLSJEVX&EPERGMRKXLIKIRIVEP
MRXIVIWXERHXLIGSWXSJTVSZMHMRKXLMWWIGSRHQSFMPILSQIEX`
XLIGSYVXJIPXXLEXXLMWHMHRSXMQTEGXSRXLIIGSRSQMG[IPPFIMRKSJ
XLI7XEXI,S[IZIVMX[EWTSMRXIHSYXXLEXXLMWGEWIHMHRSXPIEHXSE
VIUYMVIQIRXSRXLI7XEXIXSTVSZMHIX[SHIPY\IQSFMPILSQIWJSVIZIV]
8VEZIPPIVJEQMP]

-R*MRKEP'SYRX]'SYRGMPZ+EZMRXLIPSGEPEYXLSVMX]SFXEMRIHERSVHIV
VIWXVEMRMRKXLIHIJIRHERXJVSQXVIWTEWWMRKSRMXWPERH8LIHIJIRHERX
GSYRXIVGPEMQIHXLIMVIZMGXMSRSRKVSYRHWXLEXXLIPSGEPEYXLSVMX][EW
MRFVIEGLSJMXWWXEXYXSV]HYX]XSTVSZMHILSYWMRK8LIGSYVXVINIGXIH
XLMWEVKYQIRXEWXLITPEMRXMJJLEHMRJEGXSJJIVIHEGGSQQSHEXMSRXSXLI
HIJIRHERXW8LIVIEWSREFPIRIWWSJXLITPEMRXMJJ«WSJJIVQYWXFIWIIRMR
XLIPMKLXSJXLIWGEPISJXLITVSFPIQ¦XLII\XIRHIH+EZMRJEQMP][IVI
EPEVKIJEQMP]SJIMKLX]ERHMX[EWYRVIEWSREFPIXSI\TIGXXLIEYXLSVMX]
XSEGGSQQSHEXIXLIQEPPMREWMRKPIYRMXXLITPEMRXMJJLEHSJJIVIH
WITEVEXIWMXIW 8LIHIJIRHERXW[IVIRSXIRXMXPIHXSEZIXSSRXLIJSVQSJ
IQIVKIRG]EGGSQQSHEXMSRVIUYMVIH

0IKEP&VMI´RKW 
 XVEZIPPIVW

-X[EWRSXVIKEVHIHEWYRNYWXSVHMWGVMQMREXSV]XLEXXLITPEMRXMJJLEH
EHSTXIHETSPMG]XLEXMX[SYPHGSRWMHIVETTPMGEXMSRWJSV8VEZIPPIV
WTIGM´GEGGSQQSHEXMSRSRP]JVSQJEQMPMIWMRHMKIRSYWXSMXWJYRGXMSREP
EVIE8LITPEMRXMJJ[EWEPPS[IHEQEVKMRSJETTVIGMEXMSRMRHIZIPSTMRK
MXWLSYWMRKTSPMGMIWMRGPYHMRK8VEZIPPIVJEQMPMIW[MXLMRMXWJYRGXMSREP
EVIE8LIªQEVKMRSJETTVIGMEXMSR«MWXLIPII[E]KMZIRF]XLI)'X,6
XSXLI'SRXVEGXMRK7XEXIW[LIRMXHIGMHIW[LIXLIVXLIVILEWFIIRE
ZMSPEXMSRSJXLI)',6 8LIJEGXXLEXXLIEYXLSVMX]QYWXLEZIVIKEVH
XSWSQIXLMRKMRMXWEGGSQQSHEXMSRTVSKVEQQIHSIWRSXQIERXLEXMX
QYWXXEOITEVXMGYPEVWXITWMRVIPEXMSRXSMXFYXMXQYWXEXPIEWXXEOIXLI
QEXXIVMRXSEGGSYRX

-R+EZMRZ(YFPMR'MX]'SYRGMPXLIETTPMGERXWJSPPS[IHXLIEFSZI
VYPMRK[MXLEREGXMSREKEMRWX(YFPMR'MX]'SYRGMPJSVJEMPMRKXSTVSZMHI
XLIQ[MXLKVSYTLSYWMRKXLIETTPMGERXW[IVIVIWMHIRXMRXLI
(YFPMR'MX]'SYRGMPEVIEJSVQER]]IEVWFIJSVIFIMRKJSVGIHSYXF]
ERSXLIV8VEZIPPIVJEQMP] 8LI]GPEMQIHXLEXXLI'SYRGMPLEHQEHI
VITVIWIRXEXMSRWXSXLIQ[LMGLGEYWIHXLIQXSI\TIGXXLEXXLI][SYPH
FITVSZMHIH[MXLLSYWMRK

8LIGSYVX[EWSJXLIZMI[XLEXXLIVI[EWRSXIRSYKLIZMHIRGIXLEX
WYGLETVSQMWI[EWTVSZMHIHKMZMRKVMWIXSEPIKMXMQEXII\TIGXEXMSR-X
LIPHXLEXXLIVIWTSRHIRXW[IVISFPMKIHXSXEOIXLI+EZMRJEQMP]MRXS
EGGSYRXMRTVITEVMRKXLIMV8VEZIPPIV%GGSQQSHEXMSR4VSKVEQQI
[LMGLXLIIZMHIRGITVSZIHXLI]HMHIZIRMJRSXWTIGM´GEPP]8LI
ETTPMGERXW[IVIXLIVIJSVIRSXIRXMXPIHXSVIPMIJ

-R(SSPI]Z/MPPEVRI]8S[R'SYRGMPXLIIPMKMFPIETTPMGERXW[IVI
SJJIVIHERHEGGITXIHLEPXMRKFE]EGGSQQSHEXMSREGLEPIX [LMGL
XLI]EVKYIH[EWSRXLIYRHIVWXERHMRKXLEXMX[SYPHSRP]FISRE
XIQTSVEV]FEWMW8LIETTPMGERXWFVSYKLXEGEWIEKEMRWXXLIVIWTSRHIRX
EVKYMRKXLEXXLI'SYRGMPLEHJEMPIHXSTVSZMHIXLIQ[MXLWYMXEFPI
EGGSQQSHEXMSRERHLEHXVIEXIHXLIQYRJEMVP]HYIXSXLIJEGXXLEXXLI]
[IVI8VEZIPPIVW

8LIGSYVXLIPHXLEXXLI'SYRGMPQYWXMQTPIQIRXXLI8VEZIPPIV
%GGSQQSHEXMSR4VSKVEQQI[MXLXLIWSYVGIWEZEMPEFPIXSMX:IV]GPIEV
IZMHIRGISJMREGXMZMX]F]XLI'SYRGMPMWVIUYMVIHFIJSVIXLIGSYVXW[MPP
´RHEFVIEGLSJWXEXYXSV]HYX]XSMQTPIQIRXXLITVSKVEQQI

8LIGSYVXHMHWXEXILS[IZIVXLEXXLITVSKVEQQIQYWXRSXFIQIVIP]
EWTMVEXMSREPERHXLEXXLI3MVIEGLXEWMRXIRHIHXLEXQIERMRKJYPWXITWFI
XEOIR[MXLXLIEZEMPEFPIVIWSYVGIWXSMQTPIQIRXMX-XHSIWRSXJSPPS[
XLEXXLIVIMWEFVIEGLSJXLMWWXEXYXSV]HYX]WMQTP]FIGEYWIEXXLI
IRHSJXLITVSKVEQQI«WPMJIXLIVI[IVIWSQIJEQMPMIWMRGPYHIHMRXLI
TVSKVEQQI[LSLEHRSXF]XLEXXMQIFIIREGGSQQSHEXIHEWQE]
LEZIFIIRTPERRIHJSV9RJSVIWIIRGMVGYQWXERGIWQE]EVMWIWYGLEW
XLIEZEMPEFPI´RERGMEPVIWSYVGIWSVIQIVKIRG]WMXYEXMSRWIKE´VI

0IKEP&VMI´RKW 
 XVEZIPPIVW

8LIGSYVXVYPIHXLEXMXQYWXEP[E]WFIXLIGEWIXLEXXLI'SYRGMPQEOIW
EREPPSGEXMSRFEWIHSRXLIKVIEXIWXRIIH[LMGLMWRSXXLIWEQIEWXLI
FEWMWSJXLIPIRKXLSJXMQISRELSYWMRKPMWX

8LIGSYVXEPWSWXEXIHXLEXMXGSYPHRSXEGGITXXLIJEGXXLEXXLI
EHHMXMSREPEGGSQQSHEXMSRTVSZMWMSREZEMPEFPIXS8VEZIPPIVWLEPXMRK
WMXIEGGSQQSHEXMSR [LMGLMWYREZEMPEFPIXSXLIWIXXPIHGSQQYRMX]
GSRWXMXYXIWYRPE[JYPHMWGVMQMREXMSREKEMRWX8VEZIPPIVW

'SRGPYWMSR
8LIPSGEPEYXLSVMX]«WLSYWMRKHYXMIWEGGSVHMRKXSGEWIPE[GERFI
WYQQEVMWIHEWJSPPS[W

! 8
 LI8VEZIPPIV%GGSQQSHEXMSR4VSKVEQQIQYWXWIXSYXXLI'SYRGMP«W
MRXIRXMSRWJSV8VEZIPPIVEGGSQQSHEXMSR8LIVIQYWXFITVSTIV
GSRWYPXEXMSR[MXL8VEZIPPIVWERHXLIKIRIVEPTYFPMGFIJSVI
E8VEZIPPIV%GGSQQSHEXMSR4VSKVEQQIMWEHSTXIH

! 8
 LIPSGEPEYXLSVMX]MWEJJSVHIHWSQIPII[E][LIRHIZIPSTMRKMXW
LSYWMRKTSPMGMIW8LIGSYVXWLEZIVIGSKRMWIHXLEXXLIVIMWEPMQMX
XSER]LSYWMRKEYXLSVMX]«W´RERGMEPVIWSYVGIWERHEZEMPEFPIPERH
ERHHSRSXMQTSWIERYRHYIFYVHIRSRXLIQ7SQIXMQIWXLMWGER
GSRµMGX[MXLMRHMZMHYEPRIIHWI\TVIWWIHMRXIVQWSJVMKLXW

! ;
 LMPI8VEZIPPIVWEVIIRXMXPIHXSLEPXMRKWMXIEGGSQQSHEXMSRERHXLI
ETTPMGERXQE]I\TVIWWETVIJIVIRGIJSVEX]TISJEGGSQQSHEXMSR
XLIVIMWRSSFPMKEXMSRXSMQQIHMEXIP]TVSZMHIXLMWX]TISJ
EGGSQQSHEXMSREWXLIPSGEPEYXLSVMX]QYWXEPWSLEZIVIKEVHXS
EPPSXLIVTISTPI[LSLEZILSYWMRKRIIHW8LIVIMWRSZIXSSRXLI
JSVQSJIQIVKIRG]EGGSQQSHEXMSRVIUYMVIH%PPSGEXMSRHITIRHWSR
XLIKVIEXIWXRIIHERHRSXXLIPIRKXLSJXMQISRXLI[EMXMRKPMWX

0IKEP&VMI´RKW 
 XVEZIPPIVW

2SXIW
 * SVEQSVIHIXEMPIHI\EQMREXMSRSJXLI%GXWII+7MQSRWª4PERRMRKERH8VEZIPPIVW,SYWMRK
8VEZIPPIV%GGSQQSHEXMSR %GX«  *SJTI
1SPQFSUZ
BOE
&OWJSPONFOUBM
-BX
+PVSOBM
8.1G-RX]VIª8LI,SYWMRK8VEZIPPIV%GGSQQSHEXMSR %GX%R3ZIVZMI[«  
$POWFZBODJOH
BOE
1SPQFSUZ
-BX
+PVSOBM[LMGLHIEPW[MXLXLITPERRMRKEWTIGXWSJXLI8VEZIPPIV
%GGSQQSHEXMSR4VSKVEQQIW

 * SVEQSVIHIXEMPIHEREP]WMWSJ8VEZIPPIV%GGSQQSHEXMSR4VSKVEQQIWERH[LEXWLSYPHFIMRGPYHIH
XLIVIMRWII2EXMSREP8VEZIPPIV%GGSQQSHEXMSR'SRWYPXEXMZI'SQQMXXII3FWJFX
PG
UIF
0QFSBUJPO

PG
UIF
)PVTJOH
5SBWFMMFS
"DDPNNPEBUJPO

"DU
28%''.YRI TTJJ(ITEVXQIRXSJ
XLI)RZMVSRQIRX,IVMXEKIERH0SGEP+SZIVRQIRX.FNPSBOEVN
PO
UIF
1SFQBSBUJPO
"EPQUJPO
BOE

*NQMFNFOUBUJPO
PG
-PDBM
"VUIPSJUZ
5SBWFMMFS
"DDPNNPEBUJPO
1SPHSBNNFT
7XEXMSRIV]
3J´GI%YKYWX *SVGVMXMGMWQSJXLIPEGOSJTVSKVIWW[MXL8%4WWII2EXMSREP8VEZIPPIVW
;SQIR«W*SVYQ4VCNJTTJPO
UP
UIF
/BUJPOBM
5SBWFMMFS
"DDPNNPEBUJPO
$POTVMUBUJWF
$PNNJUUFF-81
2SZIQFIV -VMWL8VEZIPPIV1SZIQIRX%JTDVTTJPO
%PDVNFOU
1SPHSFTTJOH
UIF
1SPWJTJPO
PG

"DDPNNPEBUJPO
UP
'BDJMJUBUF
/PNBEJTN-812SZIQFIV 

 8
 6SFMRWSRª4PERRMRKERH(IZIPSTQIRXSJ,EPXMRK7MXIW«  *SJTI
1MBOOJOH
BOE

&OWJSPONFOUBM
-BX
+PVSOBMEX

 9
 RVITSVXIH,MKL'SYVX1EVGL1G1IREQMR.%RSXLIVGEWI[LMGLGSRGIVRIHEJEMPYVIXS
HIPMZIVSRXLIGSQQMXQIRXWSJXLI8%4[EW$BSUIZ
BOE
0ST
W
,JMEBSF
$PVOUZ
$PVODJMYRVITSVXIH
1E],MKL'SYVX*SVWYQQEV]WII%2SPERª0MXMKEXMRK,SYWMRK6MKLXW)\TIVMIRGIWERH
-WWYIW«  (90.EX

 8
 LI+SZIVRQIRXLEWMWWYIHWSQIKYMHIPMRIWSRXLIQEXXIVWII(ITEVXQIRXSJXLI)RZMVSRQIRX
,IVMXEKIERH0SGEP+SZIVRQIRX(VJEFMJOFT
GPS
"DDPNNPEBUJOH
5SBOTJFOU
5SBWFMMFS
'BNJMJFT
7XEXMSRIV]3J´GI 3XLIV+YMHIPMRIWMRGPYHI(S)0+(VJEFMJOFT
GPS
3FTJEFOUJBM
$BSBWBO

1BSLT
GPS
5SBWFMMFST7XEXMSRIV]3J´GI (S)0+(VJEFMJOFT
GPS
5SBWFMMFS
"DDPNNPEBUJPO
#BTJD

4FSWJDFT
BOE
'BDJMJUJFT
GPS
$BSBWBOT
1FOEJOH
UIF
1SPWJTJPO
PG
1FSNBOFOU
"DDPNNPEBUJPO7XEXMSRIV]
3J´GI 

 * SVQSVIHIXEMPSRXLIQIXLSHSJGSRWYPXMRK8VEZIPPIVWJSVXLI8%4WII'SRWYPXEXMSR;SVOMRK
+VSYT'JOBM
%SBGU
3FQPSU
(VJEFMJOFT
PO
$POTVMUBUJPO
.FDIBOJTNT
$PODFSOJOH
B
5SBWFMMFS4QFDJ¾D

"DDPNNPEBUJPO
1SPKFDU2EXMSREP8VEZIPPIV%GGSQQSHEXMSR'SRWYPXEXMZI'SQQMXXII%TVMP
 -VMWL8VEZIPPIV1SZIQIRX4VCNJTTJPO
UP
UIF
%FWFMPQNFOU
PG
UIF
5SBWFMMFS
"DDPNNPEBUJPO

1SPHSBNNF
-81 EX

 7
 II),YKLIWª8LI4VSZMWMSRSJ)QIVKIRG]%GGSQQSHEXMSRJSV8VEZIPPIVW«  
$POWFZBODJOH
BOE
1SPQFSUZ
-BX
+PVSOBM

 9RVITSVXIH,MKL'SYVX2SZIQFIVÄ'ESMQL.

 ?A-0619RVITSVXIH,MKL'SYVX%YKYWX1G/IGLRMI.

 9RVITSVXIH,MKL'SYVX(IGIQFIV+MPPMKER.

 * SVQSVISR+FGGFST
#ZSOF
0µ3FJMMZ
BOE
8BSEWII86SFMRWSRPQ
DJU RSXITT7II

EPWS),YKLIWPQ
DJURSXIERH4/IRRE)PVTJOH
-BX
BOE
1PMJDZ
JO
*SFMBOE'PEVYW4VIWW
 TT

 ?A-67II+;L]XI7SGMEP-RGPYWMSRERHXLI0IKEP7]WXIQ-RWXMXYXISJ4YFPMG

%HQMRMWXVEXMSR EX

 7
 II"
#SJF¾OH
%PDVNFOU
PO
UIF
)PVTJOH
.JTDFMMBOFPVT
1SPWJTJPOT

"DU
-81 (.S]GI
ª8LI,MWXSVMGEP'VMQMREPMWEXMSRSJ8VEZIPPIVWMR-VMWL0E[«  *$-+TT7%MVI]
ª+S1SZI7LMJX8VEZIPPIVWXLI,SYWMRK1MWGIPPERISYW4VSZMWMSRW %GXERHXLI)YVSTIER
'SRZIRXMSRSR,YQER6MKLXW¦'SRXVEZIRXMSRSV4IVQMWWMFPI'VMQMREPMWEXMSR#«5IFTJT
BU
/BUJPOBM

6OJWFSTJUZ
PG
*SFMBOE
(BMXBZ8LIVIMWQYGLHMWGYWWMSRSJGLERKIWMRXLIPE[ERHXLISWXVEGMWQ
SJ8VEZIPPIVWSVª+]TWMIW«MRXLI9/WII77TIRGIVª+]TWMIWERH8VEZIPPIVW&VMXEMR«W*SVKSXXIR
1MRSVMX]« &VSPQFBO
)VNBO
3JHIUT
-BX
3FWJFX3FQPSU
CZ
.JTUFS
"MWBSP
(JM3PCMFT

PO
IJT
7JTJU
UP
UIF
6, &)337).6MGLEVHWSRª8EPOMRKEFSYX+]TWMIWXLI2SXMSRSJ
(MWGSYVWIEW'SRXVSP«  )PVTJOH
4UVEJFT

0IKEP&VMI´RKW 
 XVEZIPPIVW

 9
 RVITSVXIH,MKL'SYVX*IFVYEV]&EVVSR.*SVHIXEMPIHGSRWMHIVEXMSRWII+;L]XI4PDJBM

*ODMVTJPO
BOE
UIF
-FHBM
4ZTUFN
1VCMJD
*OUFSFTU
-BX
JO
*SFMBOE-4% TT

  -6

  -6

  -6?A-061

  -),'

  -),'

 9RVITSVXIHXL(IGIQFIV,MKL'SYVX4IEVX.

 * SVEWYQQEV]SJXLIGEWIWII-08¨(MKIWXSJ0IKMWPEXMSRERH7YTIVMSV'SYVX(IGMWMSRW© 

*SJTI
-BX
5JNFTEX

 8
 EOIRJVSQ&8SFMR´&#
W
'SBODF)RHSVWMRK9R¨'SRZIRXMSR©EP*EQMPMIW#«  *SJTI
+PVSOBM

PG
'BNJMZ
-BXEX

 9RVITSVXIH.YRI,MKL'SYVX4IEVX.

 9RVITSVXIH.YP],MKL'SYVX4IEVX.

8LIZMI[WI\TVIWWIHMRXLMWTETIVEVIXLSWISJXLIEYXLSVWERHHSRSXRIGIWWEVMP]VIµIGXXLSWISJXLI'IRXVI
JSV,SYWMRK6IWIEVGL&SEVHSJ1EREKIQIRXSVJYRHMRKSVKERMWEXMSRW8LMWHSGYQIRXMWRSXMRXIRHIHXSFIE
PIKEPMRXIVTVIXEXMSRSJER]I\MWXMRKPIKMWPEXMSRSVXSFIEPIKEPMRWXVYGXMSRMRVIPEXMSRXSTVSGIHYVI

%PPVMKLXWVIWIVZIH2STEVXSJXLMWTYFPMGEXMSRQE]FITVSHYGIHSVXVERWQMXXIHMRER]JSVQSVF]ER]QIERW
IPIGXVSRMGSVQIGLERMGEPMRGPYHMRKTLSXSGST]MRKVIGSVHMRKSVER]MRJSVQEXMSRWXSVEKIERHVIXVMIZEPW]WXIQW
[MXLSYXTIVQMWWMSRJVSQXLITYFPMWLIVW

0IKEP&VMI´RKW