4=MA?PN=?

EYIAIAG=M>EOM=FA
:
@AG=N?JIOM=O=?EJIANANO=O=GAN! S
*-
M,
J?
*-
FCNCACIM
JLI=?M;F?M
S;L<CNL;F?M

DA97DH ;63>D3?AE
;Yf^X[fgficXOe`m\ij`[X[HXZ`feXcB\id`c`fPXc[`que)
Gujk\i\e>\i\Z_f=`m`cp=fd\iZ`XcgficXOe`m\ij`[X[HXZ`feXcGXpfi[\MXeGXiZfj)
Ji\j`[\ek\[\cCejk`klkfJ\ilXef[\>\i\Z_f=`m`c)

>A
>>V

MOG;LCI5

C) Cekif[lZZ`ye)

CC) ?cuiY`kif)

CCC) ?c[\Y\i[\[\ZcXiXZ`ye)
JM
>G
CP) Ce[\g\e[\eZ`X\`dgXiZ`Xc`[X[) 55
M
P) FX[\ZcXiXZ`ye\ecXF\p[\=fekiXkXZ`fe\j[\c?jkX[f) e+
PC) >\Y\i[\[\ZcXiXZ`ye\e\c=y[`^f[\sk`ZX[\cIM=?) :
P`c) FXi\ZljXZ`ye)

PCCC)FXi\ZljXZ`ye\e\cXiY`kiXa\[\ZfekiXkXZ`fe\j[\c?jkX[f)
CR) F\^`k`dXZ`ye) >G

R) Gfd\ekfpgcXqfgXiXi\ZljXi) :
55
I
RC) FXjZXljXc\j) AO
55
RCC) JifZ\[`d`\ekf[\i\ZljXZ`ye) :
RCCC)FXi\ZljXZ`ye\e\cel\mfi\^cXd\ekf[\cXF=?)
RCP)?jkX[wjk`ZXj[\cXji\ZljXZ`fe\j[\cIM=?)
:L
5A
RP) =feZclj`fe\j)

1
e+
Nob`fp^jlp nrb bi mobpbkqb ^oqÅ`ril e^ pfal bi^_lo^al qbkfbkal bk `rbkq^ i^p afpmlpf`flkbp ab i^ ^kqfdr^ Jbv
-
ab Alkqo^q^`flkbp abi Cpq^al* pfbkal ab rqfifa^a m^o^ ilp mol`bplp ^o_fqo^ibp nrb ^Ñk pb abp^oolii^k `lk af`el O
oÄdfjbk kloj^qfsl v m^o^ lqolp bpqraflp ^`^aÄjf`lp,

J^ ob`rp^`fÉk bk bi ^o_fqo^gb ab i ^p `lkqo^q^`flkbp bpq^q^ibp /57

 (#)+%#&
>aX_ ceXfXagXgeTUT]b'X_ThgbeeXT_\mTT_ZhaTfeXY_Xk\baXfXagbeabT_ WXUXeWXWXV_TeTV\tadhXg\XaXa _bfpeU\gebfVb`bZTeTagrT WX
fh \aWXcXaWXaV\TX\`cTeV\T_\WTWXaX_ `TeVbWX_bfTeU\geT]XfXa _TfVbageTgTV\baXfVbaX_ >fgTWb) :f\`\f`b'TaT_\mT X_ cebVXW\`\XagbWX
eXVhfTV\tadhX_TfcTegXfWXUXafXZh\eVhTaWbT_ZhabWX_bfpeU\gebf\aVh`c_TVbaW\V[bWXUXe'gXa\XaWbXaVhXagT'XageXbgeTfabe`Tf'X_
<tW\ZbWXog\VTWX_HL<>)
IT_TUeTfV_TiX5~eU\geb'WXUXeWXWXV_TeTV\ta'eXVhfTV\ta'\aWXcXaWXaV\TX\`cTeV\T_\WTW)
û % % ì ++++++++f+++ Y+++ kd++++fì,,,,,,,,,,, v(ìJ+++++++++++++

!)*( "*
Bag[XceXfXagjbe^'g[XThg[be`T^Xffb`XeXY_XVg\bafTUbhgg[XWhglbYWXWTeTg\bag[Tgg[XTeU\geTgbef[TiXTfTZhTeTagXXbYg[X\e
\aWXcXaWXaVXTaW\`cTeg\T_\gl\ag[XYeT`Xjbe^bYTeU\geTg\baf\aVbageTVg\aZj \g[g[XLgTgX)BgT_fbXkT`\aXfg[XV[T__XaZXcebVXWheXg[Tg

7
g[XcTeg\Xf`hfgYb__bjj[XabaXbYg[XTeU\geTgbefYT\_fgbWbfb'gT^\aZ\agbTVVbhag'ÄagXeT_\T'g[XHL<><bWXbY>g[\Vf)
DXijbeWf5:eU\geTgbe'WhglbYWXWTeTg\ba'V[T__XaZX'\aWXcXaWXaVXTaW\`cTeg\T_\gl)
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^ `riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^

A* AFLJG<M;;A}F AA* =D{J:ALJG

Ci mobpbkqb qo^_^glqfbkb mlocfk^ifa^a lqlod^o
rk^ sfpfÉk dbkbo^i ab i^ fj mloq^k`f^ abi ab+
_bo ab ab`i^o^`fÉk abi ~o_fqol ^i jlj bkql ab
bj fqfopr^`bmq^`fÉk irbdlabprabpfdk^`fÉkv
bk `r^inrfbo jlj bkqlabi bpq^alabi mol`bpl
^o_fqo^i* pfbjmob nrbbufpq^ `fo`rkpq^k`f^p nrb
e^d^k ara^oab pr fkabmbkabk`f^ b fjm^o`f^+
ifa^a* il `r^i `lkpqfqrvb bk c^sloab i^p m^oqbp
obpmb`ql ^ i^ d^o^kqÅ^ mloi^ `lkcf^kw^ abmlpf+
q^a^ bkbi~o_fqol,
Qfk bj_^odl* i^ kl bpmbo^a^ mlpf_fifa^a ab
nrb bi ~ o_fqol abgb ab ab`i^o^o `fboq^ fk cl o+
j^`fÉk jrvobibs^kqb/*mlaoÅ^l`^pflk^onrb
pb mfboa^ i^ fkabmbkabk`f^ b fj m^o`f^ifa^a*
^kqbbpqbprmrbpqlbufpqb i^ ob`rp^`fÉk`ljl
jb`^kfpjl mol`bp^i ^ab`r^al ^ bcb`qlp ab
^m^oq^o ^i ~ o_fqol nrb e^v^ fk`roofal bk bpq^
nrb_o^kq^j fbkqlabi^`lkcf^kw^abi^pm^oqbp
cobkqb^i&lp'~o_fqol&p'nrbpbbk`rbkqo^ obdr+
i^al bk i^ Jbv ab Alkqo^q^`flkbp abi Cpq^al
&bk ^abi^kqb* JAC '* alkab `l_o^ fj m l oq^ k +
`f^ bi ab_bo ab ab`i^o^`fÉk bk i^ Jbv v bk bi
AÉafdl ab {qf`^ abi MQAC* nrb`lj mibj bkq^
bi mol`bafj fbkqlabob`rp^`fÉk^o_fqo^i bkbi
abklj fk^al ^o_fqo^gb bk i^p `lkqo^q^`flkbp
7 : L E 9 7 J K I  /10
Cp m ofj loaf^i ^`lq^o nrb i^ `lkcf^kw^ bk bi
?o_fqo^gb obmlp^o^ pfbjmob bk i^ bib``fÉk abi
~o_fqol_^gl`fboq^p`^o^`qboÅpqf`^p&bumbofbk`f^*
bpmb`f^ifw^`fÉk* elko^abw l fksbpqfd^`fÉk' il
nrb`lkiibs^ ^ pbdrfoob^cfoj^kalnrbbi ?o_f+
qo^gb`ljl mfi^ocrka^jbkq^i pbbkj^o`^ bk i^
abpfdk^`fÉk abi òo_fqol v i^ prp`ofm`fÉk ab rk
^ab`r^al`lksbkfl^o_fqo^i,
Ckbpqbpbkqfalbpfj mloq^kqbil mob`fp^almlo
?icobal @rii^oa* èAÉjl _rp`^o rk ~o_fqol= Ck
jf lmfkfÉk* i^ mofk`fm^i `^o^`qboÅpqf`^ nrb pb
ab_b_rp`^obkrk~o_fqolbpnrbpb^qo^_^g^alo
l* `ljl ab`fjlp bk bi NboÑ*ë`e^j_b^alo , Ci
~o_fqolnrb^prjbi^`^od^abqo^_^glprbibpbo*
^kqbp nrb bi ~o_fqol nrb p^_b jr`el v qfbkb
jr`elp `lkl`fjfbkqlp* bi nrb j~p fkcirvb bk
bi obpriq^al cfk^i abi i^ral, Csfabkqbjbkqb bp
q^j _fÄk fj mloq^kqb nrb qbkd^ `lkl`fjfbkql
abi^j^qbof^nrbpbs^^^o_fqo^o*pbofkqbifdbkqb
vqbkbork^iÅkb^abmbkp^jfbkqlnrbmla^jlp
mobab`foibdÅqfj^jbkqbpbo~c^slo^_ib^krbpqo^
mlpf`fÉk,Ci~o_fqolqfbkbnrbpbofkqbifdbkqbkl
plil abpab bi mrkql ab sfpq^ fkqbib`qr^i* pfkl
bjl`flk^i,Rfbkbnrbpbobjm~qf`l, Sk ~o_fqol
`lkcif`qfsl* nrb pb mbib^ `lk qlal bi jrkal*

bpq^q^ibp, ^kqfm~qf`l*c^pqfaflplvnrbk^afbm^p^*bprkj^i

/, ?pbploÅ^p* e^_bo`ljm^oqfalRof_rk^ibp* obi^`flkbp^jf`^ibp*c^jfif^obpvlqo^pnrb mlaoÅ^kdbkbo^oara^pabi^

fjm^o`f^ifa^a,

/6. Pl d b o  Tf a ^ i  P^jlp
~o_fqolmlonrb*cfk^ijbkqb*kls^^dbkbo^onrÅ+
jf`^bki^afp`rpfÉk`lkprp`libd^pvbsbkqr^i+
jbkqb`lki^pm^oqbp,Wpfklbjmrg^`lkpbkplp
ilplqolp~o_fqolpil^fpi^o~kvpbnrba^o~plilv
pfk`^m^`fa^a abfkcirfobk bi i^ralcfk^i (0,
Plnrb H, A^fs^kl* `fq^al mlo Aefm^k^ A^q^i~k
plpqfbkbnrb i^pbib``fÉkabilp~o_fqolpbpnrf+
w~pbi ^`ql j~p obibs^kqb nrbql`^ ^ i^p m^oqbp
ab`fafo*mlonrbpbgrbd^bkÄii^prboqbabi^o_f+
qo^gb, Nlo j~p nrb fkqbosbkd^ rk^ fkpqfqr`fÉk*
biÄufqllbi co^`^plabi ^o_fqo^gbabmbkabo~bk
do^kjbafa^abi^`^m^`fa^aabilp~o_fqolpm^o^
obplisboi^ afpmrq^`lkbnrfa^avplisbk`f^ ,
?dobd^ nrb rk^ sbw m rbpql bk j ^o`e^ bi
mol `ba fj fbk ql  ^o_fqo^i* i^ cfdro^ abi ~ o_fqol
abpmi^w^ ^ i^ ab `r^inrfbo lqol ^`qlo* v^ nrb*
`ljlsbobjlpj~p^abi^kqb*prcrk`fÉkpbob+
i^`flk^`lkqla^pv`^a^rk^abi^p^`qr^`flkbp
nrb ^i fkqbofloabi ^o_fqo^gb pbs^k ^ a^o, Cp bk
prj^*biafob`qloabi bibk`l* _^gl`rv^ _^qrq^
i^p m^oqbp v ilp qbo`bolp nrb bsbkqr^ij bkqb
mrba^k fkqbosbkfo*ab_bo~k^`qr^o,
AAA* =D<=:=J<=<=;D9J9;A}F
Ci ab_bo ab ab`i^o^`fÉk ab ilp ~o_fqolp bp i^
l_ifd^`fÉkabilp~o_fqolpabobsbi^oilpeb`elp
l `fo`rkpq^k`f^p nrb mrba^k lofdfk^o ara^p
grpqfcf`^a^p obpmb`ql ab pr fjm^o`f^ifa^a l fk+
abmbkabk`f^1,
Ci ab_bo ab ab`i^o^`fÉk qfbkb i^ cfk^ifa^a ab
mboj fqfo^ i^p m^oqbpsbofcf`^o i^ fkabmbkabk`f^
bfjm^o`f^ifa^aabilp~o_fqolp*bpqbab_bomrb+
ab `lkpqfqrfo i^ _^pb m^o^ abp`^ifcf`^o ^ ^nrbi
^o_fqolnrbjrbpqobabmbkabk`f^lm^o`f^ifa^a*
bkqoblqolp^pmb`qlp*bi~o_fqolab`i^o^o^pfqfbkb
obi^`flkbpabm^obkqbp`l*^jfpq^a*abkbdl`flp
l ifqfdflp^p `lk `r^inrfbo^ ab i^p m^oqbp l prp
obmobpbkq^kqbp,
0, @SJJ?PBEMLXòJCQ*?icobal,èCprk^o_fqo^gbrkgrf`fl=K^qbof^ibpabib`qro^Noldo^j^ab?o_fqo^gbCQ?L+MQAC,
1, AMJJ?LRCQ EMLXòJCX* Hlodb Jrfp &Bfob`qlo', : \V V \b a T e\b gX e` \a b _r Z \V b W X 7 eU \geT ]X D TV\baT_& ?a gX ea T V \b a T _ l WX
?aiXef\baXf(Jfj^8N^ibpqo^Cafqlobp+ CpqraflK^oflA^pqfiilDobvob*0.//*m,3//,
2, AMJJ?LRCQEMLXòJCX*HlodbJrfp,Ec( 9\g(&m,3/0,
J^ o b ` r p ^ ` f É k  bk  bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
Ci ab_bo ab ab`i^o^`fÉk bufpqb abpab bi klj +
_o^jfbkqlabi~o_fqolvaro^kqbqla^pi^p^`qr^+ :
`flkbp^o_fqo^ibp*ab_fbkalbi~o_fqol*mloq^kql* r
`ljrkf`^oilpeb`elpl`fo`rkpq^k`f^ppl_obsb+ >G
T(
kfalp nrb mrba^k lofdfk^o ara^pgrpqfcf`^a^p f-<
>G
obpmb`ql^pr fjm^o`f^ifa^alfkabmbkabk`f^2, FCNCACIM
JLI=?M;F?M
S;L<CNL;F?M
QbdÑk ilp mrkqlp abp`ofqlp bi ab_boab ab`i^+
o^`fÉk `lkpqfqrvb rkl ab ilp mofk`fmflpcrka^+
jbkq^ibpabi^i^_lo^o_fqo^inrbbumiÅ`fq^jbkqb
fjmlkb^i~o_fqolbpqbab_boab fkcloj^obk i^
^`bmq^`fÉk abi `^odll pr klj _o^j fbkql vbk
`r^inrfbo bq^m^ abi ^o_fqo^gb ab `r^inrfbo `fo+
`rkpq^k`f^nrbmlkdlbkara^lfk`boqfarj_ob
pr fjm^o`f^ifa^abfkabmbkabk`f^,
AN* AF<=H=F<=F;A9=AEH9J;A9DA<9<
Gjm^o`f^ifa^a pfdkfcf`^ if_boq^a cobkqb ^ qlal
mobgrf`fllc^slofqfpjl* v^ pb^ ab m^i^_o^ l ab
l_o^* v rk^ afpmlpf`fÉk ab pbosfo ^ qla^p i^p
m^oqbp mlo fdr^i v kl plil ^ rk^ m^oqb, J^ m^o+
`f^ifa^a prodb`r^kalrk \ealZ`X[fi c^slob`b
ab`r^inrfbocloj^^rk^abi^pm^oqbpl`r^kal
j^kqfbkb mobgrf`flpbk obi^`fÉk `lk i^ j^qbof^
l_gbqlabi^`lkqolsbopf^,J^fjm^o`f^ifa^abprk
`lk`bmqlj~p^_pqo^`qlnrbi^fkabmbkabk`f^*
bkbipbkqfalabnrbfjmif`^rkbpq^alab~kfjl \
nrb^abj~pobpriq^afcÅ`fiabjbafov`r^kqfcf`^o,
w
f
J^pkl`flkbpabfkabmbkabk`f^*fjm^o`f^ifa^av
kbrqo^ifa^a*mobaf`^a^plbufdfa^pab`r^inrfbo
mboplk^`lk mlabo m^o^bkgrf`f^o* kl plk pfkÉ+
kfj^ppfklfkqbo`^j_f^_ibp, à
q+
1
:
J^obdi^abÄqf`^ m^o^ilp~o_fqolpfkqbok^`flk^+
ibp ab i^ G@?* ob^ifw^k rk^ abifj fq^`fÉk ab ilp
alpmofjbolp`lk`bmqlp*pbdÑkbi^oqÅ`ril1* i^
m^o`f^ifa^a prodb`r^kalrk~o_fqolc^slob`b^ \
rk^ab i^p m^oqbplqfbkbmobgrf`flpbk obi^`fÉk
`lk i^ j^qbof^abil_gbqlabi^`lkqolsbopf^ ,J^
abmbkabk`f^ prodb ab i^p obi^`flkbp bkqob bi
AK
<H
[
-
O
f 6/
 ~o_fqolvrk^abi^pm^oqbp*l`lk^idrfbkbpqob+
`e^jbkqb`lkb`q^al`lk^idrk^abi^pm^oqbp,
J^ fkabmbkabk`f^ bp i^ `^ifa^a ab bpq^o if_ob
ab i^ fkcirbk`f^* i^ lofbkq^`fÉk l bi `lkqoli ab
qbo`bolp, Ci qboj fkl fkabmbkabk`f^ fjmif`^ i^
fkbufpqbk`f^abfkqboÄplabmobpfÉkpl_obbibk+
grf`f^alonrbmrbabkfkcirfobkprif_obab`fpfÉk,
J^ fkabmbkabk`f^ kl mrbab `lkcrkafopb `lk i^
fjm^o`f^ifa^a, ? afcbobk`f^ ab i^ fjm^o`f^ifa^a*
nrbbprkbpq^aljbkq^i*i^fkabmbkabk`f^bprk^
pfqr^`fÉkabeb`el*pfkbj_^odl*i^fjm^o`f^ifa^a
pb_^p^bkrk^mobprk`fÉkabfkabmbkabk`f^,
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
J^ fkabmbkabk`f^ pb crka^j bkq^ m ofk `fm ^i+
j bkqbbk i^pobi^`flkbp &l j~p _fbk ^rpbk`f^
abobi^`flkbp'abi~ o_ fqol `lk i^pm^oqbpl`lk
qbo`bolp, Cpq^p obi^`flkbp mrbabk pboc^j fif^ +
obp &bpmlp^* m^aobp* efglp* mofj lp' molcbpfl+
k^ibp &mlo bgbj mil* `r^kal bi ~ o_fqol e^ ^`+
qr^al`lj l^_ld^al*bj mib^al l^pbploab
^idrk^abi^pm^oqbp'9abkbdl`fllcfk^k`fbo^p
&`r^kalbi~ o_ fqol qfbkbrk `^odl*bgb`rqfsll
kl bgb`rqfsl* l bp m^oqb bk rk^ qo^kp^``fÉk
`ljbo`f^i `lk rk^ ab i^p m^oqbp abi ^o_fqo^gb
lmboplk^i*q^kqlrk^obi^`fÉk`lkqfkr^a^`lk
rk^ m^oqbl rk fk`fabkqb fkafsfar^i*`ljlbk
bi `^pl ab rk ~o_fqol nrb `l j m^oqfÉ rk^ e^+
_fq^`fÉk ab elqbi `lk i^ ^_ld^a^ ab rk^ ab
i^p m^oqbp, Ci do^al v* mloq^kql* i^ fkcirbk`f^
abaf`e^p obi^`flkbp*s^oÅ^k `lk bi qfbj ml*bi
bpm^`flvbi ird^o,
Plnrb A^fs^kl3 bumobp^ nrb ilp ~o_fqolp* bk
q^kqlbgbo`bkrk^sboa^abo^grofpaf``fÉk`lk i^
jfpj^crbow^ nrb ilpgrb`bploafk^oflp* ab_bk
obrkfopfjfi^obp`r^ifa^abpbkloabk^i^fjm^o+
`f^ifa^a b fkabmbkabk`f^ ab `ofqboflp cobkqb ^
i^p m^oqbp, Jlp mofk`fmflp pl_ob ilp nrb ab_bk
^`qr^o kl prodbk jr`e^p sb`bp ab mob`bmqlp
7 : L E 9 7 J K I  /10
3, A?GT?LM*Plnrb,7 eU \geT ]X (Qbdrka^Caf`fÉk,@rbklp?fobp8?a+ el`*0...*mm,/50+/51,
4, A?QRGJJMDPCWPC*K^oflvQ?@PMQMKGL?W?*Pfq^, ; _ 7 eU \geT ]X Xa _T V b a geT gT V \r a csU_\VT (Ck8@f_iflqb`^ab?o_fqo^gb
abiCpqraflK^oflA^pqfiilDobvobTli,Tfi,Jfj^8N^ibpqo^Cafqlobp*0..7*m,/33,
5, ?UpW(&m,/33,
6, BbX( 9\g(
/60 Pldbo  Tf a^i  P^jlp
bp`ofqlp*pfklj~p_fbk`lkpqfqrvbkrk`lkgrkql
abobdi^pfjmiÅ`fq^plpl_obbkqbkafa^p,
Ci ^oqÅ`ril /0abi^ JbvKlabilabSLAGRP?Jì 
pb obcfbob ^ nrb bi ~o_fqol ab_b pbo fjm^o`f^i b
fkabmbkafbkqbabi^pm^oqbp*q^kql^i jljbkql
ab^`bmq^obibk`^odl`ljl^ il i^odlabqlal
bi mol`bple^pq^bi j ljbkqlabi i^ral,
N* D9<=;D9J9;A}F =F D9D=Q<=
;GFLJ9L9;AGF=K<=D=KL9<G
A^pqfiil v Q^_olpl4* pl_ob bi ab_boab ab`i^o^+
`fÉkabi~o_fqol^`lq^k8obpriq^kb`bp^oflpbÇ^i^o
nrbrklabilpqbj^pj~pfjmloq^kqbpbkobi^+
`fÉk ^ i^^`bmq^`fÉkabi ~o_fqol m^o^abpbjmb+
Ç^oq^i crk`fÉk bk rk mol`bpl ^o_fqo^i* kl plil
bk i^`lkqo^q^`fÉkabi Cpq^alpfklbk`r^inrfbo
^o_fqo^gb*bpbiobi^qfsl^iab_boabab`i^o^`fÉk,
Ckmofj boird^o*ab_bjlpab`fonrb mloab_bo
ab ab`i^o^`fÉk pb bkqfbkab ^nrbii^ `lkar`q^
nrbqfbkbnrbob^ifw^obi~o_fqol^i jljbkqlab
^`bmq^obi`^odlbfk`irplabpmrÄpabfkf`f^albi
mol`bpl^o_fqo^i*bk^plprog^^idÑk eb`el mlp+
qboflonrb^jbofqbpbofkcloj^al^ i^pm^oqbp5,
Ci ab_bo ab ab`i^o^`fÉk* q^ j _ fÄ k  ii^j ^al
ab_bo ab obsbi^`fÉk* bp bi ab_bo Äqf`l ab fk +
cloj^o*abobsbi^olab`i^o^o`r^inrfboeb`ell
`fo`rkpq^k`f^nrbmrba^ molsl`^oara^gr p qf+
cf`^a^pl_obi^fkabmbkabk`f^bfjm^o`f^ifa^a
abi~ o_ fqol bk obi^`fÉk`lk i^pm^oqbp9bpab`fo*
ara^pcrka^a^ppl_obi^falkbfa^aabi~o_fqol
m^o^ bi `^odl6,
Ci ab_bo ab obsbi^`fÉk abi ~o_fqol bp rkl ab
ilp j~p fj mloq^kqbp v abif`^alp ab i^ molmf^
crk`fÉk ^o_fqo^i ab_fal ^ nrb qfbkb rk al_ib
molmÉpfql8 mlork i^al*bi obpmb`ql^ i^p m^oqbp
nrb^`rabk ^i^o_fqo^gbv* mlolqol* bi molqbdbo
^icrqroli^ral^kqb`r^inrfbo`rbpqflk^jfbkql
mlpqboflo7,
Ci ab_bo ab ab`i^o^`fÉk bpq~ obdri^al bk bi
`r^oqlvnrfkqlm~oo^clabi^oqÅ`ril30abi^Jbv
ab Alkqo^q^`flkbpv ?anrfpf`flkbp abi Cpq^al*
kloj^nrbpbÇ^i^ilpfdrfbkqb8
:ikwZlcf 0 -( LfclZ`ye [\ Zfekifm\ij`Xj5
Efj uiY`kifj [\Y\e Zldgc`i Zfe cX fYc`^XZ`ye
[\ `e]fidXi fgfikleXd\ek\ j` \o`jk\ Xc^leX
Z`iZlejkXeZ`X hl\ c\j `dg`[X \a\iZ\i \c ZXi^f
Zfe `e[\g\e[\eZ`X' `dgXiZ`Xc`[X[ p Xlkfef(
dwX' \eZfekiue[fj\ jla\kfj X cf \jkXYc\Z`[f
\e \c <y[`^f [\ tk`ZX hl\ Xgil\Y\ \c Hi^X(
e`jdf Llg\im`jfi [\ cXj <fekiXkXZ`fe\j [\c
>jkX[f (HL<>() Efj uiY`kifj hl\ `eZldgcXe
Zfe \jkX fYc`^XZ`ye' j\iue jXeZ`feX[fj \e
Xgc`ZXZ`ye [\c K\^cXd\ekf p \c <y[`^f [\
tk`ZX) >c [\Y\i [\ `e]fidXi j\ dXek`\e\ X cf
cXi^f [\ kf[f \c XiY`kiXa\) EXj gXik\j gl\[\e
[`jg\ejXi X cfj uiY`kifj [\ cXj ZXljXc\j [\
i\ZljXZ`ye hl\ ef Zfejk`klpXe `dg\[`d\ekf
XYjfclkf)
Rlal ~o_fqol* ^i jlj bkql ab ^`bmq^o bi `^odl*
ab_b fkcloj ^o pl_ob `r^inrfbo `fo`rkpq^k`f^
^`^b`fa^ abkqol ab ilp `fk`l &3' ^Çlp ^kqbofl+
obp^pr klj_o^jfbkql*nrb mrafbo^^cb`q^opr
fjm^o`f^ifa^a b fkabmbkabk`f^, Cpqb ab_bo ab
fkcloj^`fÉk `ljmobkab ^abj~p i^ l_ifd^`fÉk
ab a^o ^ `lkl`bo^ i^p m^oqbp i^ l`roobk`f^ ab
`r^inrfbo`fo`rkpq^k`f^pl_obsbkfa^^pr^`bm+
q^`fÉkaro^kqbbiabp^ooliilabqlalbi^o_fqo^gb
vnrb mrafbo^ ^cb`q^opr fjm^o`f^ifa^a b fkab+
mbkabk`f^/.,
?pfjfpj l* bi ~ o_ fqol  abpfdk^al ab_b fk`irfo
rk^ ab`i^o^`fÉk bumobp^ pl_ob pr falkbfa^a
7, ?JMLQM*HlpÄ K^oÅ^, J^ fkabmbkabk`f^ b fjm^o`f^ifa^a ab ilp ~o_fqolp , Ck8 Pbsfpq^ Nbor^k^ ab ?o_fqo^gb LÜ 0,
Jfj^8Cafqlof^iEofgibv*0..4*m,77,
/., ?UpW(&m,/34,
/5, ?UpW(&m,/35,
/0, KCPGLM KCPAFòL*HlpÄDbok^kalvAFGJJöL KCBGL?*HlpÄ K^oÅ^,J eTgTWb WX : XeXV[b 7 eU \geT _(Rbo`bo^ Caf`fÉk*
RljlG,L^s^oo^8Cafqlof^iReljplk+AÅsfq^p*0..4*m,306,
J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
m^o^ bgbo`bo bi `^odl* pr `^m^`fa^a molcbpfl+
ìf
k^i bk il nrb `lk`fbokb^ `lkq^o`lk `lkl`f+
j fbkqlp prcf`fbkqbp m^o^ i^ ^mif`^`fÉk ab i^ m
kloj ^qfs^ ab `lkqo^q^`flkbp abi Cpq^al* ^pÅ >G
O,
`ljl i^ a fpm lkf_fifa^a ab qfb j m l  prcf`fbkqb G?
JS
m^o^ iibs^o ^ `^_l bi ^o_fqo^gb bk cloj ^ p^qfp+ FCNCACIM
JLI=?M;F?M
c^`qlof^í//, S;L<CNL;F?M
J^ ljfpfÉk abi ab_bo ab obsbi^`fÉk l i^ ^m^+
of`fÉ k  ab eb`elp l a^qlp pl _obsbkfalp bp
prp`bmqf_ib ab jlari^`fÉk `lksbk`flk^i* mlo
i^pm^oqbpfkqbosfkfbkqbpbkbi^o_fqo^gb,Cpab`fo
kl pbqo^q^ nrb pb bifjfkbk fk o^af`bqla^ mob+
qbkpfÉk ob`rp^qlof^ crka^a^ bk `fo`rkpq^k`f^p
obsbi^a^ppfklbknrbi^pm^oqbpmrba^k m^`q^o
l ilp obdi^jbkqlp ab i^p fkpqfqr`flkbp ^o_fqo^+
ibp mobsb^k * nrb bi bgbo`f`fl ab i^ mobqbkpfÉk
ob`rp^qlof^ rk^ sbw obsbi^alp krbslp a^qlp l
`fo`rkpq^k`f^pabi~o_fqol*nrba^pljbqfa^^rk
mi^wlabmob`irpfsfa^a*`lj mrq^al^ m^oqfoabi
aÅ^pfdrfbkqb^abi^obsbi^`fÉk*`lki^mob`babk+
qb obdi^ `lksbk`flk^i pb bsfq^* pfk jbklp`^_l
ab abob`el ^idrkl nrb i^ ^``fÉk ob`rp^qlof^
bpqÄ mobpbkqb^ il i^odl abqla^ i^ qo^jfq^`fÉk
abi ^o_fqo^gbv`lkpqfqrv^ rk^ ^jbk^w^ m^o^ bi
_rbkcfk abbpqb/0,
JM
G<
Nlo il bumrbpql bi ab_bo l i^ l_ifd^`fÉk ab
ab`i^o^`fÉk obmobpbkq^ rk^ l _ ifd ^ ql ofb a ^ a 
m^o^ilp~o_fqolp^cfkabo^qfcf`^olob^cfoj^oprp
`lkaf`flkbpabfkabmbkabk`f^bfjm^o`f^ifa^a
cobkqb^ i^ m^oqbnrb il klj _olvi^ lqo^ m^oqb á
ifqfd^kqb*v^prsbwmbojfqbnrbpbbumobpb`r^i+
nrfbo `fo`rkpq^k`f^ fj mloq^kqb pl_ob abpbj+
mbÇl molcbpflk^ibp* `lkaf`flkbp mboplk^ibp l
`fo`rkpq^k`f^pnrbpbmobpbkqbk^ij ljbkqlab
i^ ^`bmq^`fÉkvqo^kp`ropl abi mol`bpl ^o_fqo^i
nrbmlaoÅ^`^rp^o^cb`q^`fÉk^prfjm^o`f^ifa^a Öê
bfkabmbkabk`f^, Äo
bk
&&
:
î
3
d
O
\
/61
 NA* <=:=J<=<=;D9J9;A}F =F =D;}<A?G
<=oLA;9<=DGK;=
Ckbpqbmrkqlbpq^objlp`lkpfabo^kalbkcloj^
Åkqbdo^biqo^_^glabA^pqfiilvQ^_olpl/18
?abj~p ab pbo fkabmbkafbkqbp b fjm^o`f^ibp*
qlalpilp~o_fqolpab_bo~k `rj mifo`lk ilbpq^+
_ib`falbk bi AÉafdlab {qf`^ ^mol_^al mlobi
MQAC*jbaf^kqbPbplir`fÉk LÜ036+0..6+AML+
QSAMBC-NPC* ab`lkclojfa^a `lk il fkaf`^al
bkbi^oqÅ`ril002abi Pbdi^jbkql,
Ck q^i pbkqfal* obpriq^ fj m l oq^ k qb  nrb qlalp
ilp~o_fqolp`rj mi^k`lk ilbpq^_ib`falmlobi
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
obcbofalAÉafdlab{qf`^*pl_obqlal*bk ilob+
i^qfsl^iab_boabfkcloj ^`fÉkbk ilobcbobkqb
^i^p`fo`rkpq^k`f^pnrbab_^kpboab`i^o^a^p,
QbdÑk bi ^ oqÅ` r il  0 abi ` fq^ a l  A É a fdl  ab
{qf`^* abk qol  abi ^i`^k`b abi j fpj l pb bk+
`rbkqo^k8
^' Ci ~o_fqol nrb m^oqf`fmbbk rk ^o_fqo^gbpl+
jbqfal^iPbdi^jbkqlabiQfpqbj^L^`flk^i
abAlk`fif^`fÉkv?o_fqo^gbabiMQAC9
_' Ci ~o_fqol nrb m^oqf`fmb bk rk ^o_fqo^gb ^a
el`bkbij^o`labi^JbvvbiPbdi^jbkqlab
Alkqo^q^`flkbpv?anrfpf`flkbpabi Cpq^al9
`' J^p m^oqbp* prp obmobpbkq^kqbp* ^_ld^alp
v-l ^pbplobp* bk rk ^o_fqo^gb plj bqfal ^i
Pbdi^jbkqlabi Qfpqbj^ L^`flk^i abAlk+
`fif^`fÉkv?o_fqo^gbabiMQAClnrbpbabp+
bjmbÇbkbkrk^o_fqo^gb^a+el`pljbqfal
^ i^ JbvvPbdi^jbkqlabAlkqo^q^`flkbpv
?anrfpf`flkbpabi Cpq^al9v
a' Ci mboplk^iabilpÉod^klpabi Qfpqbj^ L^+
`flk^iabAlk`fif^`fÉkv?o_fqo^gbabiMQAC
v abi MQAC* bk il nrb ibp crbob ^mif`^_ib9
bk`lkqo~kalpb af`el mboplk^i fj mbafal
ab mobpq^o pbosf`flp ab pb`obq^oÅ^ ^o_fqo^i
bk ilp^o_fqo^gbp nrb kl pb^k lod^kfw^alp
7 : L E 9 7 J K I  /10
v ^ajfkfpqo^alp mlo bi MQAC v nrb pb bk+
`rbkqobk _^gl bi ~j _fql ab ^mif`^`fÉk ab
bpqbAÉafdl,
/1, A?QRGJJMDPCWPC*K^oflvQ?@PMQMKGL?W?*Pfq^,Ec( 9\g(&mm,/46+/51,
/62 Pl d b o  Tf a ^ i  P^jlp
?pfjfpjl* `^_b mob`fp^o nrb* ab `lkclojfa^a
`lk il bpq^_ib`fal mlo bi fk`fpl / abi ^oqÅ`ril
2 abi AÉafdl ab {qf`^* i^ ^`bmq^`fÉk ^i `^odl
ab ~o_fqol fjmif`^ bi `rj mifj fbkql ab qlalp
ilp mofk`fmflp ob`ldfalp bk bi obcbofal AÉafdl*
bkqobilpnrbbk`lkqo^jlpilpabfjm^o`f^ifa^a
bfkabmbkabk`f^,
Ci ^oqÅ`ril 3 abi AÉafdl ab {qf`^ bpq^_ib`b il
pfdrfbkqb8
:ikwZlcf3,+Ç=\Y\i [\ `e]fidXZ`ye
>e cX XZ\gkXZ`ye Xc ZXi^f [\ uiY`kif' \jk\ [\(
Y\iu `e]fidXi gfi \jZi`kf X cXj gXik\j [\ cXj
j`^l`\ek\j Z`iZlejkXeZ`Xj5
0 ),) L` k`\e\ Xc^ze `ek\ivj' gi\j\ek\ f ]lklif'
m`eZlcX[f X cX d Xk\i`X Zfekifm\ik`[X f' j`
X[hl`\i\ f gl[`\j\ X[hl`i`i Xc^ze Y\e\]`Z`f
[`i\Zkf f `e[`i\Zkf [\ ZlXchl`\iwe[fc\ i\jg\Z(
kf Xc i\jlckX[f f cX kiXd`kXZ`ye [\c XiY`kiXa\)
0)-) L` _X d Xek\e`[f f d Xek`\e\ Xc^leX
i\cXZ`ye i\c\mXek\ [\ ZXiuZk\i g\ijfeXc' gif(
]\j`feXc' Zfd\iZ`Xc f [\ [\g\e[\eZ`X Zfe
cXj gXik\j' jlj i\gi\j\ekXek\j' XYf^X[fj'
Xj\jfi\j p*f Zfe cfj fkifj uiY`kifj' hl\ gl(
[`\iX X]\ZkXi jl [\j\dg\xf \e \c XiY`kiXa\
[\ $j`Z% Zfe]fid`[X[ Zfe cf \jkXYc\Z`[f \e
\jk\ <y[`^f)
0).) L` \j f _X j`[f i\gi\j\ekXek\' XYf^X[f'
Xj\jfi p*f ]leZ`feXi`f f _X dXek\e`[f Xc^ze
mweZlcf ZfekiXZklXc Zfe Xc^leX [\ cXj gXik\j'
jlj i\gi\j\ekXek\j' XYf^X[fj' Xj\jfi\j p*f
Zfe cfj fkifj uiY`kifj \e cfj zck`dfj Z`eZf Xxfj)
0)/) L` _X dXek\e`[f f dXek`\e\ Zfe]c`Zkfj'
gifZ\jfj f gifZ\[`d`\ekfj Zfe Xc^leX [\
cXj gXik\j' jlj i\gi\j\ekXek\j' XYf^X[fj'
Xj\jfi\j p*f Zfe cfj fkifj uiY`kifj)
0)0) L` _X j`[f [\j`^eX[f gfi Xc^leX [\ cXj
gXik\j \e fkif XiY`kiXa\' f j` cXj _X Xj\jf(
iX[f f i\gi\j\ekX[f \e ZlXchl`\iX [\ jlj
df[Xc`[X[\j)
 0)1) L` _X \d `k`[f `e]fid\' [`ZkXd\e' fg`(
e`ye f [X[f i\Zfd\e[XZ`ye X leX [\ cXj
gXik\ji\jg\Zkf[\cXZfekifm\ij`XfYa\kf[\
XiY`kiXa\)
0)2)L`\o`jk\ZlXchl`\ifkif_\Z_ffZ`iZlej(
kXeZ`X j`^e`]`ZXk`mfj $j`Z%' hl\gl[`\iX [Xi
cl^XiX[l[Xaljk`]`ZX[Xi\jg\ZkfXjl`dgXi(
Z`Xc`[X[f`e[\g\e[\eZ`X) >c[\Y\i[\`e]fi(
dXZ`ye j\dXek`\e\ [liXek\\ckiXejZlijf
[\cXiY`kiXa\p efj\c`d `kXXcf\jkXYc\Z`[f\e
\jk\XikwZlcf)
Ar^inrfboafpmbkp^ ab i^p m^oqbpab_b e^`bopb
abj^kbo^bumobp^*irbdlab`rj mifalbiab_bo
abfkcloj^`fÉkmlom^oqbabi~o_fqol*mrafbkal
`lkpq^obk`ljrkf`^`fÉkbp`ofq^ lbkbi`lkqb+
kfal ab rk ^`q^* ab_fa^jbkqbcfoj^a^ mlo i^p
m^oqbp v ibs^kq^a^ aro^kqb i^ qo^jfq^`fÉk abi
^o_fqo^gb, Ckqlalpbpqlp`^plp*i^ `fo`rkpq^k`f^
afpmbkp^a^bkcloj^bumobp^klmlao~pboj lqf+
slabob`rp^`fÉk^fkf`f^qfs^abm^oqb*kfq^j ml+
`ldbkbo^o~p^k`fÉkmlom^oqbabiAMLQSAMBC,
J^ljfpfÉkab`rj mifobiab_boabfkcloj^`fÉk
mlo m^oqb abi ~o_fqol* a^o~ i^ ^m^ofbk`f^ ab
m^o`f^ifa^a* pfosfbkal ab _^pb m^o^ pbm^o^o ^i
~o_fqol abi `^pl v- l m^o^ i^ qo^jfq^`fÉk ab i^
p^k`fÉk obpmb`qfs^í,
Ck mofjboird^o*vab`lkclojfa^a `lk ilbpq^+
_ib`falmlobi`fq^al?oqÅ`ril3,/,*bk i^^`bmq^+
`fÉk^i`^odlab~o_fqolbpqbab_bo~fkcloj^omlo
bp`ofql^i^pm^oqbppfqfbkb^idÑkfkqboÄpmobpbk+
qblcrqrolsfk`ri^al^i^j^qbof^`lkqolsboqfa^
lpf^anrfboblmrafbpb^anrfofo^idÑk_bkbcf`fl
afob`qllfkafob`qlab`r^inrfboÅkalibobpmb`ql
^iobpriq^alli^qo^jfq^`fÉkabi^o_fqo^gb,
Ll`^_bara^abnrbbi mofk`fm^ibibjbkqlab
`lkcif`qlabfkqboÄpnrbmrafbo^bufpqfobkqobrk
~o_fqolvprabpbjmbÇlfaÉkblabimol`bplbppf
bufpqfbo^rkfkqboÄpmobpbkqblcrqrolsfk`ri^al
^ i^ j^qbof^ `lkqolsboqfa^,
/2, BCRP?XCELGCQEP?LB?*Dbok^kal,ëAlkcif`qr^kalbi`lkcif`ql,Jlp`lkcif`qlpabGkqboÄpbkbi^o_fqo^gbí,Ec(V\g(&
m,/54,
/3, 9Ye(4A?QRGJJMDPCWPC*K^ofl+ Q?@PMQMKGL?W?*Pfq^,Ec(9\g(
J^ o b ` r p ^ ` f É k  bk  bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
Cpab`fo*pf ^ o^Åwab^nrbiilnrb pbs^ ^ab`fafo
bkbi i^ral* bi ~o_fqolbp mlpf_ibnrb ob`f_^ rk :
_bkbcf`fl b`lkÉjf`l, Qfk ara^* bpql* ^kri^ i^ r
fjm^o`f^ifa^a*fkabmbkabk`f^vl_gbqfsfa^anrb EN
M,
ab_bmlpbboqlalòo_fqol*bk i^jbafa^abnrb J?
EN
qfbkb rk fkqboÄp afob`q^jbkqb `lj molj bqfal FCNCACIM
bkbimol`bpl, JLI=?M;F?M
P;L<CNL;F?M
Skbgbjmilklqloflabbpq^pfqr^`fÉkpboÅ^^nrÄi
bk bi`r^i bi ~o_fqolcrbpb^``flkfpq^ ab rk^ ab
i^pbjmobp^pnrbplk m^oqbbkbimol`bpl,
?iobpmb`ql*BbRo^wbdkfbp/2pbÇ^i^nrb`r^kal
pb qfbkb rk fkqboÄp b`lkÉjf`l pfdkfcf`^qfsl bk
bi obpriq^alabi mol`bpl* klpbab_boÅ^^`bmq^o
i^ abpfdk^`fÉk `ljl ~o_fqol, ?pfjfpjl* v bk
obi^`fÉk ^ i^ fknrfbqra nrb ^kqbp bumobp^jlp*
bi`fq^al molcbplopbÇ^i^nrb mlabjlp mbkp^o
nrb i^ fkabmbkabk`f^ abi ~o_fqol kl pb sbo~
kb`bp^of^jbkqb ^cb`q^a^ ab j^kbo^ o^af`^i pf
qfbkb ^idrk^p ^``flkbp ab i^ bjmobp^ nrb bp
rk^abi^pm^oqbpabi^o_fqo^gb*`ljmo^a^pbk i^
@lip^ `ljl fksbopfÉk* bk rk^ `^kqfa^a nrb kl
`lkpqfqrvbrk^m^oqbfjmloq^kqbabi^p^``flkbp
abi^bjmobp^kfq^jml`lrkm^oqbfj mloq^kqb
abpr m^qofj lkflmboplk^i,
Ckbpqb`^plpÅpbibmbojfqfoÅ^pbo~o_fqol*pfbj+
>A
mobnrbe^v^^`rboalbumobplabi^pm^oqbp,
7
X
CLpbdrkalird^o*bi^oqÅ`ril3,0,BbiAÉafdlab M
r
{qf`^ bpq^_ib`b nrb bk i^ ^`bmq^`fÉk ^i `^odl :
ab ~o_fqol* bpqb ab_bo~ fkcloj^o mlo bp`ofql ^ JM
G<
i^p m^oqbp pf e^ j^kqbkfal l j^kqfbkb ^idrk^ ZZ
M
obi^`fÉk obibs^kqb ab `^o~`qbo mboplk^i* m ol + o+
1
cbpflk^i* `ljbo`f^i l ab abmbkabk`f^ `lk i^p :
m^oqbp*prp obmobpbkq^kqbp*^_ld^alp*^pbplobp
v-l`lk ilplqolp~o_fqolpnrb mrafbo^k ^cb`q^o
prabpbjmbÇlbk bi^o_fqo^gb*ab`lkclojfa^a G<
`lk ilbpq^_ib`falbkbpqbAÉafdl/3, :
ZZ
C sfabkqbj bkqb* i^p obi^`flkbp `rv^ j ^vlo
fjmif`^k`f^ fj mloq^k bk bpqb ^pmb`ql* plk i^p
obi^`flkbp nrb e^v^ j^kqbkfal l j^kqfbkb bi
-
O
/63
 ~o_fqol`lk i^pm^oqbp,W*pl_obqlal*i^pobi^`fl+
kbpababmbkabk`f^,
Ck qbo`bo ird^o* bi ^oqÅ`ril 3,1, Bbi AÉafdl ab
{qf`^ bpq^_ib`b nrb bi ~o_fqol ab_bo~ fkcloj^o
pf bp l e^ pfal obmobpbkq^kqb* ^_ld^al*^pbplo
v-lcrk`flk^ofl l e^ j^kqbkfal ^idÑk sÅk`ril
`lkqo^`qr^i`lk^idrk^abi^pm^oqbp*prpobmob+
pbkq^kqbp*^_ld^alp*^pbplobpv-l`lkilplqolp
~o_fqolpbk ilpÑiqfjlp`fk`l^Çlp,
Pbpriq^ bsfabkqb nrb pf rkl e^ qbkfal sfk`r+
i^`fÉk `lk ^idrk^ ab i^p m^oqbp* v^ pb^ `ljl
obmobpbkq^kqb*^_ld^al^pbplov-lcrk`flk^ofl*
l e^ j^kqbkfal sÅk`ril `lkqo^`qr^i `lk bii^p
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
l `lk prp obmobpbkq^kqbp* q^ibp `fo`rkpq^k`f^p
qfbkbknrbab`i^o^opb,Cimi^wlab`fk`l^Çlpbp*
pfjmibjbkqb rk^ obcbobk`f^* bk i^ jbafa^ bk
nrbpf er_fbpbk eb`elpabjr`e^ obibs^k`f^l
pfjmibjbkqbab ^idrk^ obibs^k`f^ nrb er_fb+
pbkl`roofal `lk ^kqbi^`fÉk^ bplp`fk`l ^Çlp*
mrbpq^ibp eb`elpab_bo~k pboab`i^o^alp*vbi
mi^wlab`fk`l^Çlp^iiÅpbÇ^i^alklpbo~l_pq~+
`rilm^o^nrbpf pbljfqfbpbbp^ab`i^o^`fÉk*bi
~o_fqol mrba^ pboob`rp^al mlo i^ m^oqbnrbpb
`lkpfabob^cb`q^a^ mloq^iljfpfÉk,
?bkqbkabo BbRo^wbdkfbp/4* bi ~o_fqolq^j_fÄk
ab_bo~ ab`i^o^opf bp^pbploab j^kbo^ obdri^o
abrk^ab i^p m^oqbpvpf Äi jfpjllpr Cpqrafl
ab^_ld^alpl pr cfoj^ `lkpriqlo^ l_qfbkbab
bpqb`ifbkqbrkfkdobplb`lkÉjf`lpfdkfcf`^qfsl,
Ck bpqlp `^plp* kl pb ab_boÅ^ ^`bmq^o i^ abpfd+
k^`fÉk, A^pl afpqfkql pboÅ^ pf i^ sfk`ri^`fÉk kl
bp `lkqfkr^ l pf il nrb l_qfbkb `ljl fkdobpl
mloprppbosf`flpklbppfdkfcf`^qfsl*v^nrb^nrÅ
_^pq^oÅ^ i^ afpmbkp^ ab `ljÑk ^`rboal ab i^p
m^oqbp,
Ck `r^oql ird^o* bi ^oqÅ`ril 3,2, abi AÉafdl ab
{qf`^ abi MQAC pbÇ^i^ nrbbi~o_fqol ab_bo~ fk+
cloj ^opf e^ j^kqbkfall j^kqfbkb`lkcif`qlp*
mol`bplp l mol`bafjfbkqlp `lk ^idrk^ ab i^p
7 : L E 9 7 J K I  /10
m^oqbp*prpobmobpbkq^kqbp*^_ld^alp*^pbplobp
v-l`lk ilplqolp~o_fqolp,
/4, ?UpW(&m,/55,
/64 Pldbo  Tf a^i  P^jlp
Cpqbeb`elbpbkpÅjfpjlrk^`^rp^iabob`rp^+
`fÉkabilpgrb`bpbkqlalmol`bpl`fsfi,Qbbkqfbk+
ab nrb i^p mol_^_fifa^abp ab rkgrf`flgrpql pb
abps^kb`bkpfbigrbwabrk^`^rp^bpq~bkmibfql
graf`f^i bk lqol mol`bpl `lk rk^ ab i^p m^oqbp
nrbbsbkqr^ijbkqbq^j_fÄkbpq~pljbqfa^^pr
grofpaf``fÉk,M_sf^jbkqb`r^inrfbomibfqlobpfbk+
qbslirkq^abpvmobafpmlkb^i^^kfj^asbopfÉk,
Ckbi`^plabilp~o_fqolpi^o^wÉk^k^iÉdf`^bpi^
jfpj^,Nlobiil*`r^inrfbo~o_fqolnrbpbobpmbqb
jlo^ijbkqb klqfbkb k^a^ nrbab`i^o^o^bpqb
obpmb`ql*pfklpfjmibjbkqbfkef_fopbab^`bmq^o
bibk`^odlab~o_fqol,Cim^plmloi^ab`i^o^`fÉk
afo~jr`elabprfalkbfa^ajlo^i*mlonrbbiil
klfjmif`^lqo^`lp^nrbile^`b^p^_fbka^pab
nrbpbo~ob`rp^al*ilnrbkle^_i^jrv_fbkab
prpbofba^a,
Ck nrfkql ird^o* bi ^oqÅ`ril 3,3, abi AÉafdl ab
{qf`^pbÇ^i^nrbbi~o_fqolab_bo~fkcloj^opfe^
pfalabpfdk^almlo^idrk^abi^pm^oqbpbklqol
^o_fqo^gb* l pf i^p e^ ^pbplo^al l obmobpbkq^al
bk`r^inrfbo^abprpjla^ifa^abp,
?i obpmb`ql*ab_bjlp obcbofoklp^ rk `^plnrb
pb mobpbkqÉ^kqbbiMQACvnrbcrb j^qbof^ ab
ob`rp^`fÉk, Pbpriq^ nrb bi ~o_fqol abpfdk^al
mloi^ bjmobp^ ë?íbp ob`rp^al mloi^ Ckqfa^a
ë@í* mlonrb bi obcbofal ~o_fqol lj fqfÉ ab`i^o^o
nrb ì bk s^oflp ^o_fqo^gbp ^kqboflobpì  e^_Å^
pfal abpfdk^al mlo afpqfkq^p bjmobp^p* mbol
`lk rk bibjbkql bk `ljÑk bkqob af`e^p bj+
mobp^p8 bi `lloafk^alo abi ^o_fqo^gb* mlo m^oqb
abi^pbjmobp^p*bo^i^jfpj^mboplk^bkqla^p
^nrbii^pl`^pflkbpvq^j_fÄkbo^bi`lloafk^alo
abi ^o_fqo^gbabi^bjmobp^ë?í,
Ckpbuqlird^o*bi^oqÅ`ril3,4abiAÉafdlab{qf`^
abiMQACbpq^_ib`bnrbbi~o_fqolab_bo~obsbi^o
^i^pm^oqbppfe^bjfqfalfkclojb*af`q^jbkrlmf+
kfÉkla^alob`ljbka^`fÉk^ rk^abi^pm^oqbp
obpmb`qlabi^`lkqolsbopf^l_gbqlab^o_fqo^gb,
Cpqlbp_fbkfj mloq^kqbbki^jbafa^abnrbpb
obnrfbobnrbbi ~o_fqolqbkd^ rk `lkl`fjfbkql
ifj mflab i^ j^qbof^*bpab`fo*nrb kls^v^ `lk abfkclojbp*v`r^inrfbo eb`ell`fo`rkpq^k`f^
mobgrf`flppl_obbim^oqf`ri^o, nrbo^wlk^_ibjbkqbmrba^`^rp^oara^ppl_ob \
prfjm^o`f^ifa^a lfkabmbkabk`f^, O
>G
Qf bi ~o_fqol er_fbpb bj fqfal rk fkclojb ibd^i
^ ^idrk^ ab i^p m^oqbp bk obi^`fÉk ^ i^ j^qbof^ NA* D9 J=;MK9;A}F 79
G<
`lkqolsboqfa^ì v^ pb^ab j^kbo^sbo_^ilmlo FCNCACIM
bp`ofqlì *pfjmibjbkqbab_bo~ ab`i^o^oilv*bp J^ Pb`rp^`fÉk bumobp^ biob`e^wlabi^p m^oqbp SJ ; L < CN ML ; F ? MM

j~p*`obbjlpnrbab_boÅ^^_pqbkbopbab^`bm+ bk obi^`fÉk `lk ilp ~o_fqolp abpfdk^alp* j l qf+

q^obiklj_o^jfbkql`ljl~o_fqol*bki^jbafa^
bknrbv^qfbkbrk mobgrf`flpl_obbim^oqf`ri^o
v*bk_rbk^`rbkq^*bpbmobgrf`flfjmif`^o~nrb
afcÅ`fijbkqb`^j_fbpr mlpf`fÉk bk bi^o_fqo^gb*
mlonrb v^ e^ bj fqfal lmfkfÉk bk rk abqboj f+
k^alpbkqfal,
Cp j~p* mlaoÅ^jlp iibd^o^i ^_proal ab nrb i^
m^oqbnrbibe^mbafalbpbfkclojbmlobp`ofql*
mlo bgbjmil* mrba^ ^agrkq^o bi fkcloj b bk bi
mol`bpl ^o_fqo^i* fkaf`^kal `r~i bp i^ lmfkfÉk
abi ~o_fqol, Cp^ pboÅ^ rk^ `rbpqfÉk abj^pf^al
dolqbp`^ `ljlm^o^ mlabopbombojfqfa^bk rk
mol`bpl^o_fqo^i,
Ci^oqÅ`ril3,5*bki^jbafa^bknrbbpmobcbof_ib
bpq^_ib`bobpq^kloj^vnrbirbdlklpbmrba^
pbÇ^i^onrbbi ~o_fqol kl e^ ab`i^o^al mlonrb
i^ ibv bpq^_ib`Å^ pli^jbkqb `^plp q^u^qfslp v
kfkdrkl ab bplp prmrbpqlp `^iw^ `lk bi pr+
mrbpqlabeb`elnrbbi~o_fqoler_fbo^lj fqfal
ab`i^o^o,
Ckbcb`ql*biab_boabab`i^o^`fÉk ab_bpbobk+
qbkafalbk pbkqfal^jmifl, Bbbpq^ j^kbo^* bi
s^al mlo i^ abp`lkcf^kw^ pl_ob pr falkbfa^a*
fjm^o`f^ifa^alfk`rj mifj fbkqlabprpab_bobp
crk`flk^ibp/5,
Dbok^kal Tfa^i/ 5
/6* pbÇ^i^ nrb i^ ob`rp^`fÉk bp
bi ^`ql mlobi `r^i rk^ ab i^p m^oqbp* l ^j_^p*
ob`e^w^k ^i ~o_fqol klj_o^al mloara^oabpr
falkbfa^a* fjm^o`f^ifa^a l fkabmbkabk`f^* l
mlo fk`rj mifj fbkql ab ilpab_bobp fkebobkqbp
^ i^ crk`fÉk ^o_fqo^i, J^ ob`rp^`fÉk mrbab pbo
mi^kqb^a^ mlo i^p m^oqbp kl plil `r^kal bii^p
plk i^p nrb e^k klj_o^al ^ ilp ~o_fqolp v ilp
klj_o^alpabpfdk^olk^iqbo`bol*pfklq^j_fÄk
`r^kal bpqlp e^v^k pfal klj_o^alp mlo rk
qbo`bollmlork^ fkpqfqr`fÉk^o_fqo^i,
Ciqbj lo^i^^rpbk`f^abl_gbqfsfa^aabi~o_fqol
bp il nrbgrpqfcf`^ i^ ob`rp^`fÉk* mrbp pr iXk`f
\jj\e[`pbbk`rbkqo^bk i^plpmb`e^l`obbk`f^*
ab^idrk^abi^pm^oqbp*abnrbpr^`qr^`fÉkkl >A
>G
pbo~ qlal il ob`q^* elkbpq^ b fk`loormq^ nrb^i W!
:
ab`lolvmolsb`elab i^grpqf`f^`lksfbkb, w
[
r
:
?krbpqol`ofqbofli^Pb`rp^`fÉkbpbifkpqorjbk+
qlmol`bp^inrbpbiblqlod^^ i^pm^oqbp^cfkab JM
>G

~o_fqolëab_b`rj mifo`lkbiab_boabfkcloj^+ nrbbkafsboplpprmrbpqlpnrb`lkpfabobknrb [

e+
`fÉk*^mbp^oabnrbi^`fo`rkpq^k`f^^ fkcloj^o bufpqbk ara^p obpmb`ql ab i^ fjm^o`f^ifa^a l ;<
:
kl`lkpqfqrvbbk pÅjfpj^ rk^ o^wÉk prcf`fbkqb fkabmbkabk`f^ab ilp~o_fqolp*mrba^k fksl`^o
m^o^abqbojfk^oprabp`^ifcf`^`fÉk, biobqfoll^ibg^jfbkqlabiòo_fqollilp~o_fqolp
abi mol`bpl^o_fqo^i,
Dfk^ijbkqb ^cfoj^jlp nrb bi `Éafdl ab {qf`^ >G
ì/
7
qfbkb mlo cfk^ifa^a nrb ilp ~o_fqolp ab`i^obk Gk`irpl*biMQACe^pbÇ^i^alnrbëbiob`roplab &&
cì
l obsbibk fkcloj^`fÉk sfk`ri^a^ ^ pr ~j_fql ob`rp^`fÉkbpq~mobsfpql`ljlbijbaflfaÉkbl Vb
&&
b`lkÉjf`l &mlpf_ib fkqboÄp l _bkbcf`fl' v mol+ m^o^ ^nrbii^ m^oqb nrb pb `lkpfabob ^cb`q^a^ 7

cbpflk^i obpmb`ql ^ i^ obi^`fÉk `ljbo`f^i* ab bk prp abob`elp* ^ o^Åwabi fk`rj mifj fbkql ab
^pbploÅ^ibd^i*abpfdk^`flkbp^kqboflobp*bjfpfÉk ilpab_bobpab fjm^o`f^ifa^a b fkabmbkabk`f^
AL
Zf

/5, ?JT?PCXGJG?LCQ*Hr^kDo^k`fp`lvKMP?LRCESCPPCPM*Jrfp,C T a h T _WX9 b a geT gT V\b a X fW X _;fgTWb(Jfj^8Gkpqfqrql M

N^`fcf`l*0./1*m,632, à
O
/6, TGB?JP?KôPCX*Dbok^kal,C T a h T _W X : XeXV[b7 eU \geT _(Ec(V\g(&m,63, \

J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p  /65

 ab ilp ~o_fqolp* e^d^ bcb`qfslp ilp jfpjlp* ^
qo^sÄp ab i^ objl`fÉk ab Äpqlp* pl_ob i^ _^pb
ab i^ `^ifcf`^`fÉk l_gbqfs^ vgrpqfcf`^_ib ab i^p
`lkpb`rbk`f^pabpr mol`baboí,
Bbj^kbo^dbkbo^ibimol`bafjfbkqlabob`rp^+
`fÉkabmbkababilnrbe^k^`loa^ali^pm^oqbp,
J^`^pfqlq^ifa^aabi^pibvbpab^o_fqo^gbmobsÄk
nrbpfi^pm^oqbppbe^kpljbqfal^iobdi^jbkql
ab^o_fqo^gbabrk^fkpqfqr`fÉk^o_fqo^i*`ljlmlo
bgbjmili^AAG*bimol`bafjfbkqlabob`rp^`fÉk*
bpqfmri^almlobpqbobdi^jbkqlbp^mif`^_ib/7,
J^pab`fpflkbpabi^pfkpqfqr`flkbp^o_fqo^ibpbk
j^qbof^abob`rp^`fÉkplkab`fpflkbpmro^jbk+
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
qb^ajfkfpqo^qfs^pnrbklqfbkbi\jal[`ZX[f)Nlo
ilq^kql*rk^ab`fpfÉknrbob`e^w^i^ob`rp^`fÉk
kl mrbab pbo bi l_gbql ab rk ob`ropl ^kqb ilp
qof_rk^ibpbpq^q^ibp,Qbo~ Ñkf`^jbkqbbi l_gbql
abrk`lkqoli fkafob`ql^ i^ elo^ab rk ob`ropl
bk^kri^`fÉk`lkqo^bii^rallabi\o\hlukli)
J^ ob`rp^`fÉk bk i^ Jbv ab Alkqo^q^`flkbp pb
bk`rbkqo^obdri^albkbi^oqÅ`ril004abiobdi^+
jbkql*pfbkalilpobnrfpfqlpmobsflpalp8^'klpb
e^v^kpljbqfal^rk^o_fqo^gbfkpqfqr`flk^iv_'
klpbe^v^^`loa^alobdi^ppl_obi^ob`rp^`fÉk*
pbiibs^o^k^`^_ljbaf^kqb.3obdi^pmob`fp^a^p
bkbiobdi^jbkql,
Qfkmbogrf`flabilfkaf`^al*bufpqbmibk^if_boq^a
abi^pm^oqbpbkbi jlj bkqlabprp`ofm`fÉkabi
`lksbkfl ^o_fqo^i l bk i^ ^rafbk`f^ ab fkpq^+
i^`fÉk abi Rof_rk^i ?o_fqo^i* mrba^k ab`fafo i^
fk`lomlo^`fÉk ab rk mol`bafj fbkql ab Pb`r+
p^`fÉk?aFl`lmrba^k fk`lomlo^o`ljlpbab
ob`rp^qlof^ ^idrk^ bkqfa^a ^ajfkfpqo^alo^ ab
mol`bplp ^o_fqo^ibp v pljbqbopb ^ i^p obdi^p
bpq^_ib`fa^pbkprpobdi^jbkqlp*`lkil`r^ipb
mbojfqb i^ mlpf_fifa^a ^ i^p m^oqbp mrba^kcfg^o
/7, AMJJ?LRCQEMLXòJCX,HlodbJrfp,Mm,9\g(&m,644,
7 : L E 9 7 J K I  /10
0., JCBCQK? L?PTòCX* K^of^kbii^,@he\fW \VV\r a l 7 eU \geT ]X ( Qbdrka^ Caf`fÉk, Jfj^8 Dlkal Cafqlof^i ab i^ Nlkqfcf`f^
Skfsbopfa^aA^qÉif`^abiNboÑ*0./.*m,65,
0/, A?QRGJJM DPCWPC* K^ofl, H XVhfTV\ra( Bfpmlkf_ib bk8 :ttt,`^pqfiilcobvob,`lj-_f_ifl]^o_fqo^gb-sli/-`^mfqril6]
ob`rp^`fÉk,mac<*m,0,
00, Pbdi^jbkql^mol_^almloBb`obqlQrmobjlLÜ/62+0..6+CDvjlafcf`^almlobiBb`obqlQrmobjlLÜ/16+0./0+
CD,
/66 Pl d b o  Tf a ^ i  P^jlp
bimol`bafjfbkqlob`rp^qloflj~p`lksbkfbkqb
^prpfkqbobpbpvkb`bpfa^abp,
NAAA*D9 J=;MK9;A}F =F =D9J:ALJ9B=<=
;GFLJ9L9;AGF=K<=D=KL9<G
J^ ob`rp^`fÉkbkbi^o_fqo^gbabAlkqo^q^`flkbp
abi Cpq^al bp rk jb`^kfpjl rqfifw^al mlo i^p
m^oqbp nrbqfbkb rk^ al_ibcfk^ifa^a8 ^' Arbp+
qflk^o i^ falkbfa^a abi ~o_fqolnrb obplisbo~ bi
`lkcif`ql9 v* _' Noljlsbo pr ^m^oq^j fbkql abi
mol`bpl &Jbabpj^8 0./.* 65'0., Bb bp^ cloj^
mobifjfk^ojbkqb pb ^asboqfoÅ^* bk bi bp`bk^ofl
bkbinrbpbclojri^rk^ob`rp^`fÉk*nrbbufpqbk
fkaf`flpo^wlk^_ibpab^rpbk`f^ab`lkcf^kw^bk
i^ mboplk^ bk`^od^a^ abobplisboi^ `lkqolsbo+
pf^*abkljfk^a^ò o_fqol0/,
Ci j^o`l ibd^i ab i^p ob`rp^`flkbp bk j^qbof^
ab `lkqo^q^`flkbp abi Cpq^al bp bpq^_ib`fal ^
m^oqfo ab i^ Jbv ab Alkqo^q^`flkbp abi Cpq^al*
^mol_^almloBb`obqlJbdfpi^qfsl /./5&bk ^ab+
i^kqb* J^ Jbv ' v pr Pbdi^jbkql ^mol_^al mlo
Bb`obql Qrmobjl LÜ /62+0..6+CD &bk ^abi^kqb*
Ci Pbdi^jbkql ',Bb ^eÅ nrb pbdÑk bi ^oqÅ`ril
004abiPbdi^jbkqlabi^JbvabAlkqo^q^`flkbp
abi Cpq^al00*bk`^plnrbklpber_fbo^m^`q^al
rk^o_fqo^gbfkpqfqr`flk^i l`r^kal i^p m^oqbpkl
e^v^km^`q^alpl_obbim^oqf`ri^o*biqo~jfqbabob+
`rp^`fÉkpbiibs^`lkclojb^i^ppfdrfbkqbpobdi^p8
^, Pbdi^/8Bb_bmobpbkq^opb^kqbbiMQACabk+
qol ab ilp`fk`l &3' aÅ^p e~_fibp pfdrfbkqbp
ab`ljrkf`^a^i^^`bmq^`fÉkabi`^odlmlo
bi~o_fqolob`rp^al^i^pm^oqbplabpabnrb
i^m^oqbob`rp^kqbqlj É`lkl`fjfbkqlabi^
`^rp^ipl_obsfkfbkqb,
_, Pbdi^ 08 Ci MQAC mlkao~ bk `lkl`fjfbkql
ab i^ lqo^ m^oqbvabi ~o_fqoll~o_fqolp ob+
 `rp^alp m^o^ nrb bk bi mi^wl ab `fk`l &3'
aÅ^pe~_fibpj^kfcfbpqbil`lksbkfbkqb^pr
abob`el,
`, Pbdi^ 18 Qf i^ lqo^ m^oqb bpq~ ab ^`rboal
`lk i^ ob`rp^`fÉk l bi ~ o_fqol l ~o_fqolp
obkrk`f^k* pb mol`babo~ ^ i^ abpfdk^`fÉk
abi~o_fqoll~o_fqolpprpqfqrqlpbki^jfpj^
cloj^bknrbpbabpfdkÉ^i~o_fqoll~o_fqolp
ob`rp^alp,
a, Pbdi^ 28 Ci qo~j fqb ab ob`rp^`fÉk kl prp+
mbkabbi^o_fqo^gb*p^isl`r^kalpbqo^qbab
~o_fqol Ñkf`ll e^v^ pfal ob`rp^alalp &0'
l qobp &1' ~o_fqolp l* bk pr `^pl*`r^kal il
afpmlkd^biqof_rk^i^o_fqo^i,
Bbfdr^ijlal*`loobpmlkababpq^`^oilobdri^al
bk bi ^oqÅ`ril 002abi Pbdi^jbkql ab i^ Jbvab
Alkqo^q^`flkbp abi Cpq^al $)))% Mf[fuiY`kifXc
dfd\ekf[\XZ\gkXi\cZXi^f[\Y\`e]fidXijfYi\
ZlXchl`\iZ`iZlejkXeZ`X XZX\Z`[X [\ekif [\ cfj
Z`eZf$0%XxfjXek\i`fi\jXjlefdYiXd`\ekfhl\
gl[`\iXX]\ZkXijl`dgXiZ`Xc`[X[\`e[\g\e[\eZ`X)
>jk\[\Y\i[\`e]fidXZ`yeZfdgi\e[\X[\dujcX
fYc`^XZ`ye [\[XiXZfefZ\iXcXjgXik\j cXfZl(
ii\eZ`X [\ZlXchl`\iZ`iZlejkXeZ`X jfYi\m\e`[X
XjlXZ\gkXZ`ye [liXek\\c[\jXiifccf[\ kf[f \c
XiY`kiXa\p hl\gl[`\iXX]\ZkXijl`dgXiZ`Xc`[X[
\`e[\g\e[\eZ`X obdri^`fÉk nrb fk`fabbk
i^ fjmloq^k`f^ abi ab_bo ab obsbi^`fÉk ab ilp
~o_fqolp`ljld^o^kqÅ^abi mol`bpl^o_fqo^i01,
AP* D=?ALAE9;A}F
Cpq~k ibdfqfj^alpm^o^ob`rp^o^ilp~o_fqolpi^p
m^oqbpmol`bp^ibpvbu`bm`flk^ijbkqbmlaoÅ^k
e^`boil q^j _fÄk ilp abj~p ~o_fqolp `lj ml+
kbkqbp ab rk `libdfl ^o_fqo^i* pfbjmob nrb pb
er_fbpb afpmrbpql `lksbk`flk^ij bkqb, ?pf+
jfpjl*bpq~kibdfqfj^alpm^o^bgbo`boi^^``fÉk
ob`rp^qlof^qlalp^nrbiilpnrbpfk pbom^oqbpl
~o_fqolp*qrsfbo^k rk fkqboÄpibdÅqfj l02,
01, ?JMLQM*HlpÄK^oÅ^,Ec(9\g(&m,77,
02, A?QRGJJMDPCWPC,K^oflvQ?@PMQMKGL?W?*Pfq^,Ec(9\g(&m,307,
03, ?UpW(&m,31/,
J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
J^p m^oqbp mrba^k bgbo`fq^o i^ ob`rp^`fÉk _fbk
rkfi^qbo^ijbkqblab`lkprjl,J^ob`rp^`fÉkab :
m^oqbbgbo`fq^a^rkfi^qbo^ijbkqbpl_obbi~o_fqol r
klj_o^al mlobii^p* lbk `rvl klj _o^jfbkql EN
M,
e^v^ m^oqf`fm^al* plil mlao~ qbkbo ird^o mlo i-<
EN
`^rp^pl_obsbkfa^pfdklo^a^pbkbilofdbk*bpql* FCNCACIM
mlojlqfslpabilpnrbe^v^qbkfal`lkl`fjfbk+ JLI=?M;F?M
S;L<CNL;F?M
qlabpmrÄpabprabpfdk^`fÉk,
J^ ^``fÉk ob`rp^qlof^ pl_ob bi ~o_fqol kl klj +
_o^al mlo rk^ab i^p m^oqblbk `rvl klj_o^+
jfbkqlkle^v^m^oqf`fm^al*mrbabqbkboird^o
q^k ql  mlo `^rp^p ^kqboflobp ^ i^ abpfdk^`fÉk
`ljlmlpqboflobp^ i^^`bmq^`fÉkabi~o_fqol,
P* EGE=FLGQHD9RGH9J9J=;MK9J
Ckmrofa^aabmofk`fmflpe^vnrbafpqfkdrfobk+
qobjljbkqlvmi^wlm^o^ob`rp^o*i^ibv14-/766
klcfg^_^ bi jlj bkqlbk nrbab_Å^ mi^kqb^opb
i^ ob`rp^`fÉk pfkl bi j lj bkql bk nrb ab_Å^
bpq^omobpbkqb i^ `^rp^ ob`rp^qlof^*m^o^nrbi^
mobqbkpfÉkmrafbo^molpmbo^o*mboldr^oa^_^pf+
ibk`flbk`r^kqli^abqbojfk^`fÉkabimi^wlm^o^
bgbo`fq^oqbjmbpqfs^jbkqbi^^``fÉkob`rp^qlof^*
^kqbbpqbpfibk`flib d ^ i* ilpobdi^jbkqlpab i^p
fkpqfqr`flkbp^o_fqo^ibp*sbkf^bpq^_ib`fbkalmlo
ildbkbo^i rk mi^wlc^iq^ m^o^ bi bgbo`f`fl ab i^ \
mobqbkpfÉkob`rp^qlof^*m^p^albi`r^iab`^Å^ i^
^``fÉk mlobuqbjmlo^kbfa^a*`ljlbumobpfs^+
jbkqbqbkÅ^ v^ biqof_rk^i prmobjl &mloqla^p
QRQab /6abcb_obolab /766'03,
rl
G<
Bbilbpq^_ib`falmloi^ JbvabAlkqo^q^`flkbp
vprobdi^jbkqlbijlj bkqlm^o^fkqbomlkboi^
ob`rp^`fÉk*pb^`qfs^ ^i j lj bkqlbk i^p`r^ibp
i^p m^oqbp plk `ljrkf`^a^p `lk i^ abpfdk^+
`fÉk v -l^`bmq^`fÉk ab ilp òo_fqolp & ab m^oqb
l Nobpfabkqb abi Rof_rk^i'* lqol j lj bkql pb Ög
l`^pflk^ bk ilp prmrbpqlp nrb ilp ~o_fqolp ^
`ofqbofl mboplk^i ab`fabk ^jmif^o pr ab_boab
obsbi^`fÉk ab`i^o^kal ^idrk^p `fo`rkpq^k`f^p
nrbmlkbk^`lkl`fjfbkqlabi^pm^oqbp*ilnrb
^`qfs^bimi^wlm^o^ fkqbomlkboi^ ob`rp^`fÉk,Ci
AK
O
/67
 Ñiqfj ljlj bkqlm^o^bcb`qr^oi^ob`rp^`fÉkbp
^kqbpab nrb pb klqfcfnrb `lk i^ obplir`fÉk ab
`Éj mrqlabi mi^wlm^o^bj fqfobii^ral,
PA* D9K;9MK9D=K
Ci^oqÅ`ril003abiPbdi^jbkqlabi^JbvabAlk+
qo^q^`flkbpv?anrfpf`flkbpabiCpq^albpq^_ib`b
ilpfdrfbkqb8
:ikwZlcf--0(Ç<XljXc\j[\K\ZljXZ`ye
Efj uiY`kifj gf[iue j\ii\ZljX[fj g ficXj
j`^l`\ek\jZXljXj5
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
,)<lXe[fj\\eZl\eki\e`dg\[`[fjZfe]fid\
\cXikwZlcf--,fefZldgcXeZfecf[`jgl\jkf
gfi\cXikwZlcf--/)
-) <lXe[fefZldgcXe Zfe cXj\o`^\eZ`Xjp
Zfe[`Z`fe\j \jkXYc\Z`[XjgficXjgXik\j \e
\cZfem\e`fXiY`kiXc' Zfejla\Z`yeXcXE\p'\c
K\^cXd\ekfp efidXjZfdgc\d\ekXi`Xj)
.)<lXe[f\o`jkXeZ`iZlejkXeZ`Xjhl\^\e\i\e
[l[Xjaljk`]`ZX[Xj i\jg\Zkf [\ jl `d g X i(
Z`Xc`[X[f `e[\g\e[\eZ`Xp ZlXe[f [`Z_Xj
Z`iZlejkXeZ`Xjef_XpXej`[f\oZljX[Xjgfi
cXjgXik\j\e]fidXfgfikleXp\ogi\jXÉ)
Cp fj mloq^kqb mlabo `lkpfabo^o ilp ^i`^k`bp
ab i^ mofjbo^ ab i^p `^rp^ibp ab ob`rp^`fÉk* i^
abi fk`fpl / abi ^oqÅ`ril 003 abi Pbdi^jbkql*
pbdÑk il bpq^_ib`fal mlo bi ^oqÅ`ril 00/Ü abi
Pbdi^jbkql8
:ikwZlcf--,)(L\\eZl\ekiXe`dg\[`[fjgXiX
XZklXiZfdfuiY`kifj
,) >cIi\j`[\ek\p cfj O`Z\gi\j`[\ek\j [\cX
K\gzYc`ZX' cfj<fe^i\j`jkXj' cfjF`e`jkifj[\
>jkX[f' cfj k`klcXi\j d`\dYifj [\cyi^Xef
Zfc\^`X[f[\cfjfi^Xe`jdfjZfejk`klZ`feXc(
d\ek\Xlkyefdfj)
7 : L E 9 7 J K I  /10
-) Efj FX^`jkiX[fj' Zfe \oZ\gZ`ye [\ cfj
Cl\Z\j[\IXq)
04, ?U\W(&m,/70,
/7. Pl d b o  Tf a ^ i  P^jlp
.)Efj?`jZXc\j'cfjIifZliX[fi\jIzYc`Zfjp cfj
>a\Zlkfi\j<fXZk`mfj)
/)>c<fekiXcfi@\e\iXc[\cXK\gzYc`ZX)
0)Efjk`klcXi\j[\`ejk`klZ`fe\jf[\fi^Xe`j(
dfjgzYc`Zfj [\jZ\ekiXc`qX[fj' cfjXcZXc[\j
pcfj[`i\Zkfi\j[\cXj\dgi\jXj[\c>jkX[f)
1) >cg\ijfeXcd `c`kXip gfc`Z`Xc\e j`klXZ`ye
[\XZk`m`[X[)
2) Efj ]leZ`feXi`fjpj\im`[fi\jgzYc`Zfj \e
cfj ZXjfj hl\ k\e^Xe i\cXZ`ye [`i\ZkX Zfe
cX >ek`[X[ \e hl\ cXYfi\ep [\ekif [\ cfj
dui^\e\j \jkXYc\Z`[fj gficXj efidXj [\
`eZfdgXk`Y`c`[X[m`^\ek\j)
3) Efj ]leZ`feXi`fj p j\im`[fi\j [\c HL<>
_XjkXj\`j$1%d\j\j[\jglvj[\_XY\i[\aX[f
cX`ejk`klZ`ye)
4)Efj[\ZcXiX[fj\e`ejfcm\eZ`X)
,+) EfjjXeZ`feX[fj f `e_XY`c`kX[fjgficfj
i\jg\Zk`mfj Zfc\^`fj gif]\j`feXc\j f \ek\j
X[d`e`jkiXk`mfj' \e kXekf \jkve m`^\ek\j [`(
Z_XjjXeZ`fe\j)
>e cfj ZXjfj X hl\j\ i\]`\i\e cfj `eZ`jfj 0%
p 2%' \c`dg\[`d\ekf j\i\jki`e^\XcudY`kf
j\Zkfi`XcXchl\g\ik\e\Z\e\jXjg\ijfeXjÉ)
Cp crka^j bkq^i obp^iq^o nrb mlo Jbv bufpqbk
abqbojfk^a^p mboplk^p nrb mlo pr `^ifa^a ab
^iqlpcrk`flk^oflplcloj^om^oqbabi^?ajfkfp+
qo^`fÉkNr_if`^*pbbk`rbkqo^kmolef_falpabpbo
~o_fqolpv^o_fqo^o*ab_fal^nrbbufpqbrk^do^k
qrqbi^abilpfkqbobpbpmÑ_if`lp,
?i obpmb`ql A^pqfiil v Q^_olpl* plpqfbkbk8 A^_b
pbÇ^i^o nrb i^ Jbv ab ?o_fqo^gb kl `lkqbjmi^
rk^ifpq^q^u^qfs^abfjmbafalpm^o^pbo~o_fqolp
`ljlpÅile^`bbiPbdi^jbkql, Ci^oqÅ`ril0/ ab
i^Jbvab?o_fqo^gbpbifjfq^^pbÇ^i^onrbëqfbkbk
fk`ljm^qf_fifa^a m^o^ ^`qr^o`ljl ~o_fqolp ilp
crk`flk^oflp v pbosfalobp mÑ_if`lp abi Cpq^al
mbor^kl abkqol ab ilp j~odbkbp bpq^_ib`falp
mloi^pkloj^pabfk`ljm^qf_fifa^aobpmb`qfs^p04,
Cp fj mloq^kqbi^lmfkfÉk abA^pqfiilvQ^_olpl*
^i obp^iq^oi^ fjmloq^k`f^abilafpmrbpqlmlobi
fk`fpl6abi^oqÅ`ril00/ abiPbdi^jbkql*`r^kal
pbÇ^i^nrbbpq~k fjmbafalpab pbo~o_fqolpilp
crk`flk^oflpvilppbosfalobpabiMQACe^pq^pbfp
jbpbpabpmrÄp ab e^_boabg^al i^ fkpqfqr`fÉk,
Ckbcb`ql*firpqobjlp`lkrkbgbjmilbpqbqbj^,
Pb`loabjlpnrbbiMQACbprk^bkqfa^akljf+
k^alo^ obpfar^i ab ~o_fqolp, Pbpriq^ bsfabkqb
nrb bp `lkqo^ofl ^ ql a l  loabk jlo^i nrb rk
crk`flk^ofllpbosfaloabiMQACabpfdk^o^ì bk
abcb`qlabrk^abi^pm^oqbplbkabcb`qlabilp
~o_fqolpì ^ëVí`ljl~o_fqoll`ljlNobpfabk+
qb* obpmb`qfs^jbkqb* m^o^ nrb^ `^j_fl*irbdl
ëVí abpfdkb ^i obcbofal crk`flk^ofl l pbosfalo
`ljl ~o_fqol l `ljl pb`obq^ofl bk bi jfpjl
mol`bpllbklqol^o_fqo^gb,
Qf bufpqb rk^ obi^`fÉk bkqob i^p mboplk^p nrb
plk abpfdk^a^p `lj l ~o_fqolp v nrfbkbp i^p
abpfdkbk* pb mlaoÅ^ bpq^o dbkbo^kal qlal rk
jbo`^al abëab e^dl m^o^ nrb e^d^pí*il nrb
bp^_plirq^jbkqbfkjlo^i,
Ci^oqÅ`ril002abiPbdi^jbkqlabi^JbvabAlk+
qo^q^`flkbp*bumobp^ ilcrka^jbkq^i nrbobpriq^
pb`lkpbosbmofk`fmflpabi^crk`fÉk^o_fqo^i`ljl
il plk i^ fkabmbkabk`f^ b fj m^o`f^ifa^a* pfk
j^kqbkboobi^`flkbpmolcbpflk^ibpl`ljbo`f^ibp,
Cp fj mloq^kqb ob`loa^obi mi^wl ab 3 ^Çlpnrb
fjmlkb i^ ibv^ bcb`qlpabnrb ilp~o_fqolpab+
`i^obk^ij lj bkqlabi^^`bmq^`fÉkabprklj +
_o^jfbkql `r^inrfbo `fo`rkpq^k`f^ nrb mlaoÅ^
^cb`q^opr fkabmbkabk`f^b fjm^o`f^ifa^a*bpqb
ab_bo ab fkcloj^`fÉk pb buqfbkab aro^kqb bi
abp^ooliilabqlalbimol`bpl^o_fqo^i,
Ckobcbobk`f^^i^pbdrka^`^rp^iabob`rp^`fÉk*
`lkqbjmi^a^mlobifk`fpl0abi^oqÅ`ril003abi
Pbdi^jbkql*pbmobpbkq^`r^kalilp~o_fqolpkl
`rjmibk`lki^pbufdbk`f^pv`lkaf`flkbpbpq^+
_ib`fa^p mlo i^p molmf^p m^oqbp bk bi `lksbkfl
^o_fqo^i* `lk prgb`fÉk ^ i^ Jbv* bi Pbdi^jbkqlv
kloj^p`ljmibjbkq^of^,
?i obpmb`ql* A^kqr^of^p05 &`fq^al mlo A^pqfiil v
Q^_olpl' plpqfbkb nrb ^ bcb`qlp ab d^o^kqfw^o
05, A?LRS?PG?QQ?J?TCPPW*Dbok^kal, H Xdh\f\gbfc T eT fXen eU \geb (Ck8Pbsfpq^Nbor^k^ab?o_fqo^gbLÜ0,Jfj^8Eofgibv*
0..4*m,45,
J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  ab i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
i^`lkpqfqr`fÉkabqof_rk^ibp^o_fqo^ibpfaÉkblp*
qla^p i^p ibdfpi^`flkbp ^o_fqo^ibp fjmlkbk ob+ :
nrfpfqlpjÅkfjlpnrbab_bo~k`rj mifo^nrbii^p S
mboplk^p nrb abpbbk ^`qr^o `lj l ~o_fqolp, >G
O,
Ebkbo^ijbkqb bpqlp obnrfpfqlp bpq~k obcbofalp i-T
NC
^ i^ ba^a v ^ i^ `^m^`fa^a `fsfi* k^`flk^ifa^a FCNCACIM
v i^p `^ifcf`^`flkbp molcbpflk^ibp abi ~o_fqol, JLI=?M;F?M
S;L<CNL;F?M
Nbol* ^abj~p ab ilp obnrfpfqlp nrb mrbabk
pbo bufdfalp mlo i^ ibv abi ird^o alkab pb s^
^ abp^oolii^o bi ^o_fqo^gb* i^p m^oqbp l bi obdi^+
jbkql ab i^ fkpqfqr`fÉk ^o_fqo^i bk`^od^a^ ab
^aj fkfpqo^o bi ^o_fqo^gb mrbabk fj mlkbo prp
molmflp obnrfpfqlp ^af`flk^ibp, Bbkqol ab q^i
loabk ab fab^p* pf bi ~o_fqol Ñkf`l l ^idrklab
ilp ~o_fqolp abi qof_rk^i ^o_fqo^i kl `rjmifbo^
`lk ilp obnrfpfqlp mobsf^jbkqb m^`q^alp mlo
i^p m^oqbp bk bi `lksbkfl ^o_fqo^i* rk^ ab i^p
m^oqbp mlaoÅ^ ob`rp^oils~ifa^jbkqb*bk sfoqra
abilbpq^_ib`falmlobifk`fpl0abi^oqÅ`ril003
abi Pbdi^jbkql ab i^ Jbv ab Alkqo^q^`flkbp v
?anrfpf`flkbpabi Cpq^al,
J^ qbo`bo^ `^rp^i ab ob`rp^`fÉk* `lkqbjmi^a^
mlobi fk`fpl1abi^oqÅ`ril003abi Pbdi^jbkql*
bp `r^kal bufpq^k `fo`rkpq^k`f^p nrb dbkbobk
ara^pgrpqfcf`^a^pobpmb`qlabprfjm^o`f^ifa^a
lfkabmbkabk`f^v`r^kalaf`e^p`fo`rkpq^k`f^p
kle^v^kpfalbu`rp^a^pmloi^pm^oqbpbkcloj^ >A
>G
lmloqrk^vbumobp^, Ckq^ipbkqfal*bi^`qr^oab ]G
:
ilp~o_fqolparo^kqbbimol`bpl^o_fqo^i*ab_bpbo 0
M
fjm^o`f^i b fkabmbkafbkqb, r
:
Ql_ob bi m^oqf`ri^o* bi MQAC e^ pbÇ^i^al nrb ë >A
G<
ZZ
Y,,,[ m^o^ nrb mrba^ ^ibd^opb `ljl `^rp^i ab M
q+
ob`rp^`fÉk nrb bufpqbk `fo`rkpq^k`f^p nrb db+ 1
:
kbo^kara^pgrpqfcf`^a^ppl_obi^fjm^o`f^ifa^a
b fkabmbkabk`f^ ab ilp ~o_fqolp* i^p jfpj^p
ab_bo~k ^`obafq^opb pl_ob i^ _^pb ab fk+ 001
Orfkqlvpbuql m~oo^clp ab i^ `r^oq^ m~dfk^ ab G<
ìf
0
i^ Pbplir`fÉk LÜ260+0..6+AMLQSAMBC- NPC 55
I
ab cb`e^ /0 ab pbmqfbj_ob ab 0..6, Gkaf`flp `l
ZZ
l_gbqfslp o^wlk^_ibp nrb abjrbpqobk nrb i^ 7
`lkar``fÉkabimol`bplmlom^oqbabilp~o_fqolp
e^bpq^allofbkq^a^e^`f^bi_bkbcf`flbsfabkqb
AK
lbk`r_fboqlabrk^abi^pm^oqbpbkabqofjbkql 5A
á
-
(O
/7/
 abi^lqo^*pfkobpm^ialbki^pobdi^pabimol`bpl* cfj<fe]c`Zkfj[\Bek\i\j\j\e\c:iY`kiXa\Bek\ieX(
i^ kloj^qfs^ ^mif`^_ib prmibqlof^j bkqb l ilp Z`feXc 'pfpqbj^qfw^almlobiabkljfk^alifpq^al
mofk`fmflpdbkbo^ibpabi abob`el, olgl*k^o^kg^*sboab,

? j^kbo^ ab ^mloqb* bp kb`bp^ofl ^`lq^o nrb PAA* HJG;=<AEA=FLG<=J=;MK9;A}F

i^ Aloqb Qrmobj^ ab i^ PbmÑ_if`^06* cfgl  rk^
krbs^`^rp^iabob`rp^`fÉkab~o_fqolp*ab_fal
^ nrb ilp jfbj_olp ab rk qof_rk^i ^o_fqo^i kl
mrbabk qbkbo m^obkqbp`l, Ci m^obkqbp`l mlo
`lkp^kdrfkfa^a l mlo ^cfkfa^a bkqob ilp ~o_f+
qolpnrbcloj^k rkqof_rk^i ^o_fqo^i `lkpqfqrvb
rk^ `^rp^i ab ob`rp^`fÉk* ab_fal ^ nrb q^i
pfqr^`fÉk dbkbo^ bsfabkqbp v crka^a^p ara^p
obpmb`ql ^ pr fjm^o`f^ifa^a, Ck `lkpb`rbk`f^*
m^o^ i^ Aloqb Qrmobj^* bufpqb i^ l_ifd^`fÉk ab
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
J^ l m l oqr k fa ^ a  m^o^ ob`rp^o v pr m ol `b a f+
jfbkql* bk bi `^pl abi ^o_fqo^gb fkpqfqr`flk^i*
pbo~kilpbpq^_ib`falpbkilpobdi^jbkqlpabi^
fkpqfqr`fÉk^o_fqo^i,Qfbi^o_fqo^gbbp:[AfZ'bk
mofk`fmfl*abmbkabab ilm^`q^albk i^p_^pbp
abimol`bplabpbib``fÉklbkbi`lkqo^ql*`^pl
`lkqo^ofl pb pfdrbk i^p pfdrfbkqbp obdi^p bpq^+
_ib`fa^pbk bi^oqÅ`ril004Üabi obdi^j bkqlab
i^ JbvabAlkqo^q^`flkbp8

ilp~o_fqolpabfkcloj^oi^bufpqbk`f^abrk^ob+
i^`fÉk abm^obkqbp`l`lk lqol~o_fqol pf bpnrb
i^e^v*abil`lkqo^oflpbo~krilbii^ral^o_fqo^i
nrbe^v^pfalbj fqfalbk`lkqo^sbk`fÉk`lkbi
ab_bo ab ilp ~o_fqolp ab fkcloj^o i^p `^rp^ibp
ab ob`rp^`fÉk nrb pb dbkbobk `lk j lqfsl ab
pr klj_o^jfbkql,
:ikwZlcf--1)(IifZ\[`d`\ekf[\K\ZljXZ`ye)(
>e\cZXjfhl\cXjgXik\jefj\_XpXejfd\(
k`[fXleXiY`kiXa\`ejk`klZ`feXcfZlXe[fef
_XpXegXZkX[fjfYi\\cgXik`ZlcXi'\ckiud`k\
[\i\ZljXZ`yej\cc\mXiuXZXYfZfe]fid\cXj
$j`Z%j`^l`\ek\ji\^cXj5

Alkpfabo^jlpnrb J^ AloqbQrmobj^ kl^mlo+ ,)EXi\ZljXZ`ye[\Y\]fidlcXij\Xek\\cHL<>

q^ k^a^ krbsl ^ i^ al`qofk^ grofpmorabk`f^i
^o_fqo^i*a^al nrb EX<XljXcgfigXi\ek\jZf[\
ZfejXe^l`e`[X[fX]`e`[X[[\cfjuiY`kifj ' _^gl
rk^ _~pf`^ fkqbomobq^`fÉk abi `lkqbkfal abi
fk`fpl1'*abi^oqf`ril003Üabi^ JbvabAlkqo^+
q^`flkbpvbifk`fpl1'07abi^oqÅ`ril06abi^ Jbv
?o_fqo^i Nbor^k^*bumobp^k`lkqrkabkqbj bkqb
nrb ilp ~o_fqolp mlao~k pbo ob`rp^alp `r^kal
nrfb_obk ilp mofk`fmflp ab i^ fjm^o`f^ifa^a l
fkabmbkabk`f^,
A^_b jbk`flk^onrb i^p m^oqbp mol`bp^ibp ml+
aoÅ^k fk`lomlo^obk bi`lksbkfl^o_fqo^i lbk i^
^rafbk`f^ ab fkpq^i^`fÉk abi qof_rk^i ^o_fqo^i*
`^rp^ibpabob`rp^`flkbp^af`flk^ibpbpq^_ib`f+
a^pbki^Jbvv^prsbwmrba^kpbofkqbomobq^a^p
lfk`lomlo^a^p`lki^p =`i\Zki`Z\j[\cXB;:jfYi\
7 : L E 9 7 J K I  /10
[\ekif[\cfjZ`eZf$0%[wXj_uY`c\jj`^l`\ek\j
[\Zfdle`ZX[XcXXZ\gkXZ`ye [\cZXi^fgfi
\cuiY`kifi\ZljX[fXcXjgXik\jf[\j[\hl\
cXgXik\i\ZljXek\kfdyZfefZ`d`\ekf[\cX
ZXljXcjfYi\m`e`\ek\)
-) >c HL<>gfe[iu \e ZfefZ`d`\ekf [\ cX
fkiXgXik\p [\cuiY`kiffuiY`kifji\ZljX[fj
cXi\ZljXZ`ye'gXiXhl\'\e\cgcXqf[\Z`eZf
$0% [wXj _uY`c\j' dXe`]`\jk\e cf Zfem\e`\ek\
Xjl[\i\Z_f)
.) L`cX fkiX gXik\ \jku [\ XZl\i[f Zfe cX
i\ZljXZ`yef\cuiY`kiffuiY`kifji\eleZ`Xe'
j\gifZ\[\iuX cX [\j`^eXZ`ye [\cuiY`kif f
uiY`kifjjljk`klkfj\ecXd`jdX]fidX\ehl\
j\[\j`^eyXcuiY`kiffuiY`kifji\ZljX[fj)

06, J^ Q^i^ Afsfi Nboj^kbkqb ab i^ Aloqb Qrmobj^ bpq^_ib`fÉ bpqb `ofqbofl grofpmorabk`f^i jbaf^kqb i^ pbkqbk`f^
ob`^Åa^bki^A^p^`fÉkLÜ666+0./1Nfro^*mloi^`r^ipbab`i^o^fkcrka^alaf`elob`roplfkqbomrbpqlbkbij^o`l
abrkmol`bplab^kri^`fÉkabi^ral^o_fqo^i,

07, Bb`obql Jbdfpi^qfsl LÜ /.5/8 ?oqÅ`ril 06,+C b g\i b f W X T U f gX a V \r a l WX eXVhfTV\ra( # ((($ -( Ka n eU \geb f b_b c b W en fXe
eXVhfTWb f\ V b a Vh eeXa Xa o_ V\eVh a fgT a V\T f dhX WXa _h Z T e T WhW T f ]h f g\Y\V T W T f fbUeX fh \` c T eV \T _\W T W b \a WXc X aWXaV\T&
b f\ a b cbfXX _Tf VT_\Y\VT V\b a X f V baiXa\WTf c b e _Tf c T egX f b X k \Z\WTf c b e _T _Xl(

/70 Pl d b o  Tf a ^ i  P^jlp
 /) L`cffkifgfik\ef\jku[\XZl\i[fZfecX
i\ZljXZ`ye f \cuiY`kif fuiY`kifj ef i\ele(
Z`Xe fef XYjl\cm\e \ckiXjcX[f \e \cgcXqf
`e[`ZX[f'\cHL<>cfi\jfcm\iu\elegcXqf[\
[`\q$,+%[wXj_uY`c\j)
EXi\jfclZ`ye[\cXi\ZljXZ`ye [\Y\j\idf(
k`mX[X' \j [\]`e`k`mX \ `e`dgl^eXYc\pj\iu
glYc`ZX[X\e\cgfikXc`ejk`klZ`feXc[\cHL<>)
<lXe[fcXi\ZljXZ`yej\X[\ZcXiX[X]le[X[X'
\cHL<>gifZ\[\iuXcX[\j`^eXZ`ye[\cuiY`kif
jljk`klkf)
>ckiud`k\[\i\ZljXZ`yeefjljg\e[\\cXiY`(
kiXa\'jXcmfZlXe[fj\kiXk\[\uiY`kifze`Zff
_XpXej`[fi\ZljX[fj[fj$-%fki\j$.%uiY`kifj
f'\ejlZXjf'ZlXe[fcf[`jgfe^X\cki`YleXc
XiY`kiXcÉ)
Ck mofj bo ird^o* bi Pbdi^jbkql e^ bpq^_ib`f+
al nrb bi Éod^kl bk`^od^al ab obplisbo i^p
ob`rp^`flkbp bp bi MQAC* bp ab`fo* ilp ~o_fqolp
klobprbisbk i^p ob`rp^`flkbpnrbpbclojri^k
`lkqo^ biilp*^ jbklpnrb i^p m^oqbpm^`qbk bk
`lkqo^ofl^ ilafpmrbpql mlobi ^oqÅ`ril 004abi
Pbdi^jbkql,
Ck bpb pbkqfal* i^ ob`rp^`fÉk ab_b clojri^opb
^kqb bi MQAC bk rk mi^wl jrv _obsb9 ^ p^_bo8
`fk`laÅ^pab`ljrkf`^a^i^^`bmq^`fÉkl`fk`l
aÅ^pabpabnrbi^m^oqbob`rp^kqbqlj É`lkl`f+
jfbkqlabi^`^rp^ipl_obsfkfbkqb&bki^jbafa^
bk nrb* `ljl ebjlp bumobp^al* i^p `^rp^ibp
nrbjlqfs^ki^ ob`rp^`fÉkmrbabkmobpbkq^opb
bk mibklabp^ooliilabi mol`bpl^o_fqo^i',
Orba^ `i^olnrb pf pb fkqbomrpfbo^ rk^ ob`rp^+
`fÉk crbo^ ab mi^wl* mloj~pabnrbbpq^crbpb
crka^a^* i^ ob`rp^`fÉk pb ab_boÅ^ ab`i^o^o fj +
mol`babkqbmlobuqbjmlo~kb^,Sk^sbwob`f_fa^
i^ ob`rp^`fÉk* bi MQAC i^ mlkao~ bk `lkl`f+
jfbkql ab i^ lqo^ m^oqbvabi ~o_fqol l ~o_fqolp
ob`rp^alp*m^o^nrbj^kfcfbpqbkil`lksbkfbkqb
^pr abob`el*bkbimi^wlab`fk`laÅ^p,
Aljl mlabjlp ^asboqfo* bk ob^ifa^a* mlaoÅ^
l`roofonrbklplilbpqbjlpbkmobpbk`f^abrk
~o_fqolob`rp^al*pfklnrbpber_fbpbob`rp^al
^ rk kÑjbol j^vloab~o_fqolp,Qf i^ lqo^m^oqb
bpqrsfbpb ab ^`rboal `lk i^ ob`rp^`fÉk l bi
J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  ab i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p 
~o_fqol l ~o_fqolp obkrk`f^o^k* pb mol`babo~ ^
i^ abpfdk^`fÉk abi ~o_fqoll ~o_fqolp prpqfqrqlp \
bk i^ jfpj^cloj^bknrbpbabpfdkÉ^i~o_fqol 1
l ~o_fqolp ob`rp^alp, Ckqlk`bp* sbjlp nrb bi êHH
mol`bafjfbkql ab ob`rp^`fÉk mrbab qbkbo rk f-<
mofjboabpbki^`bvbpnrbi^m^oqbnrbklj_oÉ
^i ~o_fqol ob`rp^al ^`bmqb i^ ob`rp^`fÉk9 l* bk SJ ; L < CN ML ; F ??MM 
`^plpbqo^q^o^abiNobpfabkqbabiRof_rk^i*nrbi^
m^oqbnrbklilob`rp^q^j _fÄkbpqÄab^`rboal
`lk i^ ob`rp^`fÉk,
Ck lqo^p m^i^_o^p* bk `r^inrfbo `^pl bk nrb
rk ~o_fqol bp ob`rp^al mlo rk^ m^oqb v i^ lqo^
bpqrsfbpb ab ^`rboal `lk i^ ob`rp^`fÉk* ^rql+
j~qf`^jbkqbbpb~o_fqolqbkaoÅ^nrb^_^kalk^o
biqof_rk^i ^o_fqo^i,
Pbpriq^bsfabkqbnrbbpq^klbprk^pfqr^`fÉkbk
i^`r^ipbaÄmlocrka^a^i^ ob`rp^`fÉk*mlonrb
m^o^ q^i bcb`ql pb obnrbofoÅ^ nrb bi lod^kfpjl
obprbis^, ?nrÅ kl e^v obplir`fÉk abi MQAC* kf
q^j ml`l e^v ^`bmq^`fÉk kf bumobp^ kf q~`fq^
abi ~o_fqol ob`rp^al, Qfjmibjbkqb pb qo^q^ ab
rk^ pfqr^`fÉk jl`^\e\i`j' bk i^ `r^i il nrb pb
mlaoÅ^ `ljmobkabo bp nrb ^j_^p m^oqbp +sÅ^
bpqbjb`^kfpjlob`rp^qlofl+bpq~k^`loa^kal
q~`fq^j bkqb prpqfqrfo l s^`^o ^ bpb ~ o_ fqol  v
mol`babo^rk^krbs^abpfdk^`fÉkabrk~o_fqol \
>G
prpqfqrql, \
X
M
Cpq^p jfpj^p `lkpfabo^`flkbp plk ^mif`^_ibp
q^j _fÄk m^o^ bi `^plbk bi `r^i kl plilpb^ rk
~o_fqolbi ob`rp^al, Ckqlk`bp*pf i^ `lkqo^m^oqb HáH
^`bmq^i^ ob`rp^`fÉk*klfkqbobp^ i^lmfkfÉkabi
~o_fqollabilp~o_fqolpob`rp^alp,
?elo^ _fbk* ab_bj lp pbÇ^i^o nrb bp jrv
ml`l cob`rbkqb nrb i^ `lkqo^m^oqb ^`bmqb i^
ob`rp^`fÉk, Ck i^ `^pf qlq^ifa^a ab ilp `^plp*
i^ `lkqo^m^oqb kl i^ s^ ^ ^`bmq^o, Ckqlk`bp* bk
bpqlpprmrbpqlp*biqbj^+b k pbdrkalqÄ oj fk l +
nrba^oÅ^bk j^klpabi~o_fqol, :
Ql_obbpqbqbj^*bkkb`bp^oflpbÇ^i^onrbpboÅ^
mo~`qf`^jbkqbfjmlpf_ibnrbbi~o_fqol^`bmqb c0
ilp crka^j bkqlp ab i^ `^rp^i ab ob`rp^`fÉk* Qd
^rknrb`i^olbpq~nrbbiilklpboÅ^fjmlpf_ib,Qf \
bi~o_fqol^`bmq^o^ilpcrka^jbkqlpabi^`^rp^i O
ab ob`rp^`fÉk* bsfabkqbj bkqb pb qbkaoÅ^ nrb O
^m^oq^oabi mol`bpl* mbolil j~p`ljrkbpnrb
71
 bi~o_fqolob`rp^alkl^`bmqbilpcrka^jbkqlp
nrbprpqbkqbk i^`^rp^iabob`rp^`fÉk,
Ck bpqb prmrbpql* bk`lkqo^jlp* ^ pr sbw* qobp
`^jfklp, Ci mofj bo `^jfkl bp nrb bi ~o_fqol
ob`rp^al obkrk`fb* ^ mbp^o ab kl ^`bmq^o ilp
]le[Xd\ekfj [\ cX ZXljXc [\ i\ZljXZ`ye' ZXjf
bk bi `r^i pb ^`qfs^ bi jb`^kfpjl ab abpfdk^+
`fÉk ab~o_fqolprpqfqrql mobsfpql mlobi molmfl
Pbdi^jbkql,Cipbdrkal`^jfkl*nrbq^isbwbp
mlo`bkqr^ijbkqbbij~prpr^i*`lkpfpqbbknrb
bi ~o_fqol ob`rp^al kl ^`bmqb i^ ob`rp^`fÉk* i^
`lkqbpqb v i^ ob`e^`b bk qlalp prp qÄojfklp,
Dfk^ijbkqb*biqbo`bo`^jfkl`lkpfpqbbknrbbi
ob`rp^al kl pb molkrk`fb ^i obpmb`ql* ^ mbp^o
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
abi mi^wlnrbpbiblqlod^ m^o^biil,R^kqlbkbi
pbdrkal `ljl bk bi qbo`bo `^pl* bi qbj^ pbo~
obprbiqlmlobiMQACbkobplir`fÉknrbab_bpbo
jlqfs^a^* pfbkal abcfkfqfs^ b fkfjmrdk^_ib v*
^abj~p*mr_if`^a^bkbimloq^i fkpqfqr`flk^iab
bpblod^kfpjlabi Cpq^al,
Cpq^pfqr^`fÉkpbe^ii^`lkqbjmi^a^bkbifk`fpl
2 abi ^oqÅ`ril 004 abi Pbdi^jbkql* `r^kal pb
pbÇ^i^ nrb pf i^ lqo^ m^oqb kl bpq~ ab ^`rboal
`lk i^ ob`rp^`fÉk l bi ~o_fqol l ~o_fqolp kl ob+
krk`f^k l kl^_prbisbk biqo^pi^albk bi mi^wl
fkaf`^al* bi MQAC il obplisbo~ bk rk mi^wl ab
afbwaÅ^pe~_fibp,
J^ kloj^ ^dobd^ nrb bk bpqlp `^plp `r^kal
i^ ob`rp^`fÉk pb^ ab`i^o^a^ crka^a^* bi MQAC
mol`babo~^i^abpfdk^`fÉkabi~o_fqolprpqfqrql,
Cp fj m l oq^ k qb  pbÇ^i^o nrb* bk m ofk `fm fl * bi
qo~j fqbab ob`rp^`fÉkabrk~o_fqol klab_boÅ^
prpmbkabobimol`bafjfbkql,Nob`fp^jbkqb*bpl
pbÇ^i^ bi Ñ iqfj l  m~oo^cl abi ^oqÅ`ril 004 abi
Pbdi^jbkql* mbol bpql plil pbo~ ^mif`^_ib bk
`^pl bi ob`rp^al pb^ rk ~o_fqol* kl ^pÅ`r^kal
ilpob`rp^alppb^kalplqobp~o_fqolp*l`r^kal
ilafpmlkd^biRof_rk^i?o_fqo^i,
Qbbkqfbkabnrbpfbiob`rp^albprk~o_fqol*kl
7 : L E 9 7 J K I  /10
plilbpnrbklpbprpmbkabbi mol`bpl^o_fqo^i9
1., 7 egpV h _b  +3.('?aWXc XaWXaV\T&\` c T eV \T _\W T W l W X U X eW X \a Yb e` T V \r a ('
Bbfn eU \geb f WXUXafXel c X e` T a X V X eW h eT a gX X_W X f T eeb __b W X _T eU \geT ]X \aWX c X a W \X a gX fX\` c TeV\T_Xf&f\a` T a gX a X eVba
/72 Pl d b o  Tf a ^ i  P^jlp
q^j ml`l pb prpmbkab i^ ^`qfsfa^a abi molmfl
~o_fqol ob`rp^al abkqol abi mol`bpl ^o_fqo^i,
Cp ab`fo* pfdrb pfbkal ~o_fqol bk crk`flkbp, Jl
nrb mlaoÅ^ l`roofo bp nrb bi ~o_fqol pbÇ^ib pr
^_pqbk`fÉk bk ilp^`qlp mol`bp^ibpnrbpbqbk+
d^knrbbgb`rq^oabpabbij ljbkqlbknrbe^
qlj ^al`lkl`fjfbkqlabi^ob`rp^`fÉkve^pq^
bij ljbkqlbknrbi^ob`rp^`fÉkpb^ab`i^o^a^
crka^a^*fkcrka^a^lfjmol`babkqb,J^kloj^
bpq^_ib`bnrbpfplk ob`rp^alpalplqobp~o_f+
qolp*bimol`bpl^o_fqo^i pÅpbprpmbkab,
Ckqbkabjlpnrbi^cfk^ifa^aabbpq^afpmlpf`fÉk
bpbsfq^oara^p pl_obi^ falkbfa^a abi qof_rk^i
bk pr `lkgrkql, Qfk bj_^odl* klp a^ i^ fj mob+
pfÉkabnrbilpbÇ^i^albkbiÑiqfj lm~oo^clabi
^oqÅ`ril 004 abi Pbdi^jbkql* `lkpqfqrvb rk^
kloj^ nrb mrbab a^o ird^o ^ j^kfl_o^p afi^+
qlof^p^ bcb`qlpabob`rp^o^alplj~p~o_fqolp
bk mol`bplp^o_fqo^ibpvnrb* k^qro^ijbkqb* ilp
qof_rk^ibpqbkd^knrb`bp^obkprpcrk`flkbp,
Ckqlk`bp* i^ mobdrkq^ pbo~ bk nrÄ jbafa^* pf
pb e^`brplv^_rplabi jb`^kfpjlabob`rp^o
^ alp l qobp ~o_fqolp* bi qof_rk^i mlaoÅ^ bpq^o
prpmbkafalab j^kbo^ fifjfq^a^,Cprk^_rbk^
mobdrkq^* mlonrb i^ ibv kl bpq^_ib`b kloj^p
m^o^ nrbilpqof_rk^ibp mrba^k _ofka^op^ifa^p
ibd^ibp^bpqbobpmb`ql,
Ci qbj^ nrba^ bsfabkqbjbkqb ^ i^ ab`fpfÉk ab
ilpmolmflpqof_rk^ibp^o_fqo^ibpvabi^al`qofk^,
Qfk bj_^odl* obpriq^ mbifdolplbieb`elabnrb
pbmlaoÅ^e^`borplv^_rplabbpqbjb`^kfpjl*
ob`rp^kal mloafsbop^p `^rp^ibp pr`bpfs^p* rk^
sbwnrbbpobprbiq^ i^`^rp^i^kqboflo*nrbbpab+
`i^o^a^fkcrka^a^,W^eÅpÅqbkaoÅ^jlpbibkqo^j+
m^jfbkqlqlq^iabimol`bpl^o_fqo^isÅ^i^^rpbk`f^
abkloj^pbpmb`Åcf`^pabimolmflPbdi^jbkql,
PAAA* D9J=;MK9;A}F =F =DFM=NG
J=?D9E=FLG<=D9D;=
Ci ^oqÅ`ril /721. abi Nolvb`ql* fk`lomlo^ ^ i^
ab`i^o^`fÉk abi ab_bo ab fkabmbkabk`f^* fj+
m^o`f^ifa^a b fkcloj^`fÉk ab ilp ~o_fqolp* ^ i^ ilp^o_fqo^gbpfkpqfqr`flk^ibp`r^kalklpbe^v^
ìb,
l_ifd^qlofba^a ab i^ fkp`ofm`fÉk ab qlalp ilp obdri^al^i obpmb`ql, :û%
~o_fqolp^i PbdfpqolL^`flk^iabòo_fqolp*ilnrb r
$!
`lkiibs^^bpq^_ib`bo*nrb^nrbi^o_fqolnrbkl Dfk^ijbkqb pb ab_b bcb`qr^o rk^ fkqbomobq^`fÉk l,
pbbk`rbkqo^fkp`ofqlbkbiPbdfpqolmboqfkbkqb* pfpqbj~qf`^abi^oqÅ`ril /72v0.1*abiobdi^jbkql fk
fk
mlao~fk`roofobk `^rp^iabob`rp^`fÉk, ^ibpq^_ib`boi^kb`bpfa^aabnrbbi~o_fqol&p'ab_bk FCNCACIM
JLI=?M;F?M
bpq^omobsf^jbkqbfkp`ofqlbkbi PbdfpqolL^`flk^i S;L<CNL;F?M
Ci^oqÅ`ril /73*bpq^_ib`b8 ab~o_fqolp*abil`lkqo^ofl`^_oÅ^i^mlpf_fifa^aab
fkqbomlkbo rk^ ob`rp^`fÉk`lkqo^ bi ~o_fqoll ilp
Efj uiY`kifj gl\[\e j\i i\ZljX[fj gficXj ~o_fqolpnrbklj^kqbkd^sfdbkqbprPL?,
j`^l`\ek\jZXljXj5
:ikwZlcf ,4/)(Be[\g\e[\eZ`X'`dgXiZ`Xc`[X[
,)<lXe[fj\\eZl\eki\e`dg\[`[fjZfe]fid\ p[\Y\i[\`e]fidXZ`ye)(
\cXikwZlcf `4-fefZldgcXeZfecf[`jgl\jkf
gfi\cXikwZlcf ,4/) $)))% :j`d`jdf' \cuiY`kif [\j`^eX[f [\Y\
\jkXi`ejZi`kf\e\cK\^`jkifGXZ`feXc[\âiY`(
-)<lXe[fefi\zeXecXjZXc`]`ZXZ`fe\jv \o`( kifj' \`eZcl`ileX[\ZcXiXZ`ye\ogi\jXjfYi\
^\eZ`XjgXiXXjld`i\c\eZXi^f\jkXYc\Z`[Xj jl`[fe\`[X[gXiX\a\iZ\i\cZXi^f'j\xXcXe[f
\ecXc\^`jcXZ`yep\cZfem\e`fXiY`kiXc) hl\ Zldgc\ Zfe cfj i\hl`j`kfj \jkXYc\Z`[fj
\e\celd\iXc/0)1[\cXikwZlcf/0|[\cXE\p'
.)<lXe[f\o`jkXeZ`iZlejkXeZ`Xjhl\^\e\i\e XjwZfdf hl\ Zl\ekXZfe cX [`jgfe`Y`c`[X[
[l[Xjaljk`]`ZX[Xj i\jg\Zkf [\jl `dgXiZ`X( [\ k`\dgf jl]`Z`\ek\gXiX cc\mXiX ZXYf \c
c`[X[f `e[\g\e[\eZ`X' j`\dgi\ hl\ [`Z_Xj XiY`kiXa\\e]fidXjXk`j]XZkfi`X)
Z`iZlejkXeZ`Xjef_XpXej`[f\oZljX[Xjgfi
cXjgXik\j\e]fidXfgfikleX) :ikwZlcf-+.(?`eXc`[X[[\cK\^`jkifGXZ`feXc
[\âiY`kifjp [\cK\^`jkifGXZ`feXc[\L\Zi\(
Ckbi`^plnrbi^pm^oqbpklpbe^v^kpljbqfal^ kXi`fj:i Y `ki Xc\j)(
rk^o_fqo^gbfkpqfqr`flk^i*i^ob`rp^`fÉkbpobprbiq^ \e
G=
mlobiMQAC*`lkclojb^imol`bafjfbkqlbpq^_ib+ >cK\^`jkif GXZ`feXc[\âiY`kifj $KG:%p \c bH
:
`fal bk i^ Bfob`qfs^ `loobpmlkafbkqb* p^isl nrb K\^`jkif GXZ`feXc[\L\Zi\kXi`fj:iY`kiXc\j X
M
^nrbii^p e^v^k ^`loa^alnrb i^ ob`rp^`fÉk pb^ $KGL:% k`\e\e gfifYa\kf kiXejgXi\ekXicX r
:
obprbiq^mlork^fkpqfqr`fÉk^o_fqo^i^`obafq^a^, `e]fidXZ`yehl\Zfej`^e\ecfjgif]\j`feXc\j q
'*
hl\'Xe`m\ceXZ`feXc'j\Zfej`[\i\eXgkfjgXiX G=
&&
Ci qo~j fqb ab ob`rp^`fÉk kl prpmbkab bi ^o_f+ [\j\dg\xXij\ZfdfuiY`kifjfZfdfj\Zi\kX( M
Gì
qo^gb* p^isl `r^kal pb qo^qb ab ~o_fqol Ñkf`l l i`fjXiY`kiXc\j \e dXk\i`X [\ZfekiXkXZ`fe\j 1
:
e^v^kpfalob`rp^alpalp&0'lqobp&1'~o_fqolp* [\c>jkX[f' [\Zfe]fid`[X[ZfecX =`i\Zk`mX
l `r^kal afpmlkd^ bi Rof_rk^i ?o_fqo^i, Cpq^ i\jg\Zk`mX)=`Z_fji\^`jkifjj\iueglYc`ZX[fj
kloj^ bp ^mif`^_ib ^ ilp ^o_fqo^gbp ^a el` v ^ gfiHL<>\ejlgfikXc`ejk`klZ`feXc)
G<

:
`Ö
_Tfc T egX f eX_TV\baXfcXefbaT_Xf&c eb YX f \b a T _X f bVb` XeV\T_Xf( 7
JbWb n eU \geb & T _ ` b ` X a gb  W X  T V X c gT eX _ VTeZb& WXUX \a Yb e` T e fbUeX V h T _d h \X e V \eV h a f gT a V \T  T V T X V\W T  W X a geb  WX
_bf V \a Vb  #/$ Tqbf T a gX e\b eX f  Tfh a b ` U eT ` \X a gb & d h X c h W \X eT  Z X a X eT eW h W T f ]h f g\Y\V T W T f  fbUeXfh \` c T eV \T _\W T W 
X \a W X c X a W X a V \T ( ;fgX W X U X e WX \a Yb e` T V \r a  V b ` c eX a W X  T W X ` n f  _T  b U _\Z T V \r a  W X  W T e T  V b a b VX e T  _Tf c T egX f  E?
cM
_T  b V h eeX a V \T  WX V h T _d h \X e V \eV h a f gT a V \T  f b U eX i X a \W T  T  fh T V X c gT V \r a  dhX c h W \X eT  Z X a X eT e W h W T f  fb U eX  fh
A-<
\` c T eV \T _\W T W X\a W X c X a W X a V\T (
á
7 f\` \f` b&X_n eU \geb W X f \Z a T W b WXUXX fgT e\a f Ve\gb XaX_H XZ\fgebD T V \b a T _WXÇ eU\gebf&X\a V _h \eh a T W X V _T eT V \r a XkceXfT L
fbUeXfh\W b a X \W T W c T eT X]XeVXeX _VTeZb&f X q T _T a W b dhXVh ` c _X Vba_bfeXdh\f\gbfXfgTU_XV\WbfXaX _a h ` X eT _./(0WX_
T egpV h _b ./uWX_T BXl&T fpV b ` b dhXV h X a gT Vb a _T W \f c b a \U \_\W T W WXg\X ` c b fh Y\V\X a gX c T eT __X i T eT VTUbX_T eU \geT ]X Xa
(O
Yb e` T fT g\f YT V gb e\T (

J^ o b ` r p ^ ` f É k  bk  bi  ^ o _ f q o ^ g b  ab  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p  /73
 EX`e]fidXZ`yeZfej`^eX[X\e[`Z_fjK\^`jkifj
k`\e\ZXiuZk\i[\[\ZcXiXZ`yealiX[XXek\cX
Xlkfi`[X[X[d`e`jkiXk`mX'[\Y`\e[fj\iXZi\(
[`kX[X\ecXfgfikle`[X['gcXqfp]fidXhl\
\jkXYc\qZXcX=`i\Zk`mX)
EX`e]fidXZ`ye[\ZcXiX[X\e\cKG:ef\o`d\
Xcfjgif]\j`feXc\j [\Zldgc`iZfe \c[\Y\i
[\`e]fidXZ`ye \e cfj i\jg\Zk`mfjgifZ\jfj
XiY`kiXc\j\ecfjhl\gXik`Z`g\e'[\Y`\e[f'[\
j\i\cZXjf'XZi\[`kXiXek\cXjgXik\jfXek\\c
\ek\Zfdg\k\ek\\cZldgc`d`\ekf[\cXjZXc`(
]`ZXZ`fe\jm \o`^\eZ`Xjc\^Xc\jgXiXXjld`i\c
\eZXi^f):j`d`jdf' cX`ejZi`gZ`ye \e \cKG:
ef[\jZfefZ\cX]XZlckX[[\cXjgXik\j\ele
Pbsfpq^ b a fq^ a ^  m l o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
XiY`kiXa\[\Zl\jk`feXi'gficXjmwXjg\ik`e\e(
k\j'\c`eZldgc`d`\ekf[\kXc\jZXc`]`ZXZ`fe\jp
\o`^\eZ`XjZlXe[fXjwcfX[m`\ikXe)
EX\o`jk\eZ`X[\cKG:ef[\jZfefZ\cXfYc`^X(
Z`ye[\cXj`ejk`klZ`fe\jXiY`kiXc\j[\\cXYfiXi
jljgifg`Xjeyd`eXj[\uiY`kifjgXiXXiY`kiX(
a\j\eZfekiXkXZ`yegzYc`ZX'e`cX]XZlckX[[\
HL<>[\ZfekXiZfeleXeyd`eX[\uiY`kifj
gXiX i\Xc`qXicX [\j`^eXZ`ye i\j`[lXc) IXiX
\]\Zkfj[\cXZfe]`^liXZ`ye[\\jkXjeyd`eXj'
cXj `ejk`klZ`fe\j XiY`kiXc\j m  HL<> [\Y\e
Xj\^liXij\hl\cfjgif]\j`feXc\jZldgcXecXj
ZXc`]`ZXZ`fe\jp \o`^\eZ`Xj\jkXYc\Z`[Xj\ecX
c\^`jcXZ`yem`^\ek\)
EfjgifZ\[`d`\ekfj [\`ejZi`gZ`yepi\efmX(
Z`ye[\`ejZi`gZ`ye\e\cKG:p \cKGL:jfe[\
=lX[ifH {-
9pG Mb]jYfgc XYHfcWYX]a]Ybhcg
**************************** ]
.,-- 3/
.,-. 30
.,-/ 1/;&
7 : L E 9 7 J K I  -/.
H Lb_T\hWXf kb {xVTfTV\baXfc|XfXeYXDÄTfT .4+4-+,.
1/, 9Ye(4AS@?GLE?*CafplkDfabi9?N?X?KMLA?B?*A^olivPMQ?JCQPMBPGEM*HlpÄ, F Xefc XVg\iTfl!B \a X T ` \X a gb f !W X _
c eb V X W \` \X a gb !WX!eXVhfTV\ra!WX!n eU \geb f !T a gX !X_!E eZ T a \f` b !I hcXei\fbe!WX!_Tf!9 b a geT gT V\b a X f!W X _!;fgTWb!#EI9;$"+Ck8?i
BÅ^ Pbsfpq^ Gkpqfqr`flk^i abMQAC LÜ1, Jfj^8 0./2, Bfpmlkf_ibbk8 :eqqm8--mloq^i,lp`b,dl_,mb-obsfpq^]lp`b-/25-
abq^iib-
/74 Pldbo  Tf a^i  P^jlp
XgifYXZ`yeXlkfduk`ZXpj\i\^lcXed\[`Xek\
=`i\Zk`mXXgifYX[XgfiHL<>)
EXgvi[`[X[\cX m`^\eZ`X [\ci\^`jkif [\ le
gif]\j`feXc`ejZi`kf\e \cKG:hl\j\[\j\d(
g\xXZfdfuiY`kif\elegifZ\jf\eZlijfef
Zfecc\mXXcZ\j\[\jl]leZ`yeZfdfkXc)
PAN* =KL9<|KLA;9K <= D9K J=;MK9;AGF=K
<=DGK;=/-
Cpfjmloq^kqb`lkpfabo^obiqo^_^glabfksbpqfd^+
`fÉk bcb`qr^kal mlobi MQAC* bi `r^i klp_ofka^
fkcloj^`fÉk ab ilp mol`bafjfbkqlp ab ob`rp^+
`fÉkabilp^Çlp0.//*0./0vm^oqbabi^Çl0./1
obcbofal^ilpjlqfslpj~prpr^ibpnrb`lkiibs^k
^ mi^kqb^o rk^ ob`rp^`fÉk ^kqb MQAC* ^pÅ `ljl
sbofcf`^o`r~iabi^pm^oqbp+bkrkmol`bpl^o_fqo^iì
e^clojri^al`lk j^vlocob`rbk`f^bpqbqfmlab
mol`bafjfbkql*fkcloj^`fÉknrbpbo~`lkpfabo^a^,
HUfhYgeiYZfYWiYbhYaYbhYZcfai`Ub
fYWigUW]ub6
Qf abi ^k~ifpfp pb bpq^_ib`b nrb bufpqb rk do^k
j^odbkababp`lkcf^kw^bki^`lkar`q^Äqf`^ab
ilp~o_fqolp* _fbk s^iaoÅ^ i^ mbk^ mobdrkq^oklp
èAr~i ab i^p m^oqbp bk rk ^o_fqo^gb abp`lkcÅ^
j~pabilp~o_fqolp=Bbipfdrfbkqb`r^aolmrbab
l_pbos^opb nrbplk i^p Ckqfa^abp i^p nrb`^a^
^Çlclojri^kbij^vlokÑjbolabob`rp^`flkbp*
pfbkalbk`^a^`^plbimlo`bkq^gbj^vlo^i5.#*
`lkclojbpbsbofcf`^^`lkqfkr^`fÉk,
H9JL= IM= >GJEMD9 D9J=;MK9;A}F
=b`gXUX ;cbhfUh]ghU
13 34$ -2 .."
14 34" -2 .."
0- 33" -. ./"
Bb bpb jlal* mlabjlp ^asboqfo q^i `ljl pb
jrbpqo^bkbido~cf`l*nrbbkilpmboflalp0.//*
0./0 v 0./1 i^p bkqfa^abp e^k pfal i^p nrb
bk cloj^ ob`roobkqb e^k cloj ri^al bi j^vlo
kÑjbol ab ob`rp^`flkbp* cobkqb ^i mlo`bkq^gb
obar`fal ab i^p ob`rp^`flkbp clojri^a^p mlo
ilp`lkqo^qfpq^pab00#bkilp^Çlp0.// v0./0
v01#bkbi^Çl0./1,
JYgi`hUXcXY`UgXYW]g]cbYghcaUXUgdcf
GK;=6%jYfWiUXfc/&
Qfkbj_^odl*pf _fbkbp`fboqlplk i^pCkqfa^abp
i^pnrbj~p^oqf`ri^kbpqbqfmlabfk`fabkqbpkl
kb`bp^of^jbkqb qfbkbk bi jfpjl ab do^al ab
bcb`qfsfa^abk`r^kql^ilpobpriq^alp*`lkclojb :
pbbumlkb^`lkqfkr^`fÉk8&sbo`r^aol /', l
>G
O,
Bb il bumrbpql* mrbab `libdfopb nrb i^ j^vlo JM
G<
m^oqbabob`rp^`flkbpclojri^a^pmloi^pm^oqbp FCNCACIM
^kqbbiMQAC pb obi^`flk^k ^ l_gb`flkbpab`^+ JLI=?M;F?M
S;L<CNL;F?M
o~`qboÄqf`labilp~o_fqolp,Bb^eÅnrbmlabjlp
^asboqfonrbbk ilp mboflalp0.//*0./0v0./1
j~pabi5.#abjlqfslpl`^rp^ibpnrbprpqbk+
q^olk rk^ ob`rp^`fÉk bpqrsfbolk obi^`flk^alp
`lkbifk`rj mifj fbkqlabi ab_boabobsbi^`fÉk
vara^pgrpqfcf`^a^pabfkabmbkabk`f^bfjm^o+
`f^ifa^a,

Ar^aolLÜ 1

A4<7FA & 5A@F7@;6A 67 >3 675;E;o@

Gjmol`babk`f^
Alk`irpfÉk mlo Alk`irpfÉk
&fk`ljmbqbk`f^,
fXZua obkrk`f^ mloobkrk`f^
Gkcrka^a^ buqbjmlo^kbfa^a 8_ZRPRP
Wcbh!Zo#& XY &Ller_fbo^pfal &Fr_fbo^pfal
ab`fpflkbp
XYW]g]cbYg Z & clka^a^' crka^a^'
^o_fqo^ibp'

(&'' -+ *' . '(" * + '& ') VV '+

(&'( -* () )' '& '* '( ', '- () '( ',
SM
]Z +& ( () & & & & ( (+ G<
7 B * lH 
:
MAlkpfabo^kalbumbafbkqbpobprbilpmbobiMQAC cflpbbpq~k`lkpfabo^kal^nrbii^pobplir`flkbpabfjmol`babk`f^mlojlqfslpnrb w
M
klmlaoÅ^kbpq^=obi^`flk^alpafob`q^jbkqb`lkbicrka^jbkqlabi^ob`rp^`fÉk&Nlobgbjmil*fjmol`babk`f^mlonrbbi~o_fqolkl^`bmql r
bq`^odllmlonrbobkrk`fÉ^jbpabclojri^opbi^ob`rp^`fÉk' R^jml`lpbbpq~k`lkpfabo^kali^pobplir`flkbpnrb`lk`irvbolkbi :
mol`bafjfbkqlmlojlqfslpapcjqlp^q^obkrk`f^ &`loklmlobgbjmil `lk`irpfÉkmlobjfpfÉkabi^ral mbo`lksbjbki^ob`rp^`fÉk
r^
bcb', G<
&&
& 'Cumbafbkqbpobprbilp^i1..70./1 H
U(
1
:
;iUXfcF' -

A[\m\Z\& =;OM;F IGINCPI >?L?=OM;=CÑH

hl\ j\_X
G<
Xc\^X[f cX >l[Xj BaVh` c_\` \Xagb WX
;HI
ZXljXc f
\aVh`c_\` \Xagb
Chfg\Y\VTWTf WX Xk\ZXaV\Tf l
HU]XV\ta T :
WX_ WXUXe WX WXV\f\baXf Hgebf $&&&% U(
dfk`mf [\ BaWXcXaWXaV\T VbaW\V\baXf WX_
eXiX_TV\ta TeU\geT_Xf $ % `l
i\ZljXZ`ye ] % X \` cTeV\T_\WTW VbaiXa\b TeU\geq &&
7
T b gg ,,4 .4 ..! /4 /k! k ,! ,3 ,0! ,- ,+!

-+,- ,g4 .- -4! 02 6 /2! 0 /! ,1 ,.! 4 2!

AL
.2! -- + I + + - Vb
-+,. .3$ % ,/ 03! 0,,
ql
$&% <baf\WXeTaWb XkcXW\XagXf eXfhX__bf cb\ ` H L < g >f WX ceXVefT\ dhX Xa ha fb_b XkcXW\XagX fX chXWX [TUXe eXVhfTWb T `pf WX ha
peU\geb l fX chXWX [TUXe T_XZTWb `pf WX haT VThfT_ b `bg\ib WX eXVhfTV\ta 3
n \ =X_ Tap[f\f WX _T VTfhrfg\VT WX Lbf XkcXW\XagXf eXfhX_gbf [TfgT \ ` .+ +4 9+,.) Lbf ThgbeXf abf cXe`rgXabf \WXag\Y\VTe haT 1
V\eVhafgTaV\T JhX Xa Ybe`T eXVbeeXegX Xf hfTWT cbe _Tf cTegXf
$&#&% \aV_hlXa W\iXefbf `bg\ibf WX VhXfC\begTeeXXagbf \WbaX\WTW \aYeTVV\ta T _bf ce\aV\c\bf WX_ <(tWZb WX og\VT' ThfXaV\T WX
(O
XfcXbTgTgTbaXfi XgV

J^ o b ` r p ^ ` f É k  bk bi  ^ o _ f q o ^ g b  a b  i ^ p  ` l k q o ^ q ^ ` f l k b p  b p q ^ q ^ i b p
 Ck rk mol`bpl ^o_fqo^i* kl plil ab_b obsbi^opb
il nrbbi ~o_fqol `lkpfabobnrb mrbabdbkbo^o
ara^p&`ofqboflpr_gbqfsl'9pfklqlalilnrb`ob^
nrb^ilplglpabi^pm^oqbpmrba^pbol_gbqlab
`rbpqflk^jfbkql&`ofqbofll_gbqfsl'^cfkabalq^o
abd^o^kqÅ^p^imol`bplvbsfq^o`rbpqflk^jfbk+
qlp^ prcrk`fÉkgrofpaf``flk^i,
Pbpmb`ql^i jlal ab `rj mifo `lk bi ab_boab
obsbi^`fÉkbi~o_fqol*`lkpfabo^jlpnrbklplil
ab_bfk`irfork^ab`i^o^`fÉkbumobp^bk ilnrb
`lk`fbokb^prfalkbfa^a*`^m^`fa^amolcbpflk^i
vafpmlkf_fifa^aabqfbj mlm^o^iibs^o^`^_lbi
^o_fqo^gb*^`loab^i^kloj^qfs^abAlkqo^q^`fl+
kbp v ?anrfpf`flkbp abi Cpq^al* pfkl ^abj~p*
Pbsfpq^ b a fq^ a ^  ml o ^ ir j k l p  ab i^ D ^`riq^a ab B bob`el ab i^ S k fs b op fa ^ a  ab Jfj^
bp kb`bp^oflpbpd^oi^wlk^dofpbk obi^`fÉk^ il
nrbab_bl klpboobsbi^al*mobp`of_fbkalnrb
bk `^plabara^cobkqb^ obsbi^ol klabqboj f+
k^al eb`el l `fo`rkpq^k`f^* lm`fÉk ab_bo~ i^
pbolmq^omlolqlod^ofkcloj^`fÉk^ i^pm^oqbp,
Mm`fÉk nrb klpm^ob`b^ab`r^a^qla^sbwnrb
biilfk`objbkq^bido^alabpbdrofa^aabi^pm^o+
qbpobpmb`ql^im^mbimolq^dÉkf`labprp~o_fqolp,
Ciab_boabobsbi^`fÉkab_bpbork^l_ifd^`fÉk
jlo^i ab `^o~`qbo `lkpq^kqb ab ilp ~o_fqolp*
`lk i^ cfk^ifa^a nrb kl pb^k i^p m^oqbp i^pnrb
obnrfbo^k mob`fpflkbp l ^i`^k`bp bk obi^`fÉk ^
abqbojfk^alp eb`elpnrb`lkpfabobk mrbabk
srikbo^oi^ fjm^o`f^ifa^aabprp~o_fqolp,
? mofjbo^ sfpq^* rk^ obi^`fÉk ^jf`^i bkqob ~o+
_fqolp klbp mbopb rk^`^rp^i ab ob`rp^`fÉk kf
mlaoÅ^dbkbo^oara^p obpmb`qlabi^^`qr^`fÉk
^o_fqo^i abq^ibp molcbpflk^ibp* mrbpql nrb rk^
sfk`ri^`fÉk ab q^i k^qro^ibw^ pfk ^pl`f^opb ^
^idÑkeb`el`lk`obqlnrbdbkbobara^ppl_ob
i^ fjm^o`f^ifa^a b fkabmbkabk`f^* kl ab_boÅ^
pbo m^pf_ib ab ob`rp^`fÉk, Ll l_pq^kqb biil* pb
ab_b^k^ifw^o`^a^ prmrbpqlbk m^oqf`ri^om^o^
iibd^o ^ bpq^_ib`bo rk^ bsbkqr^i ^cb`q^`fÉk ^
q^ibpmofk`fmflp,
7 : L E 9 7 J K I  /10
J^pobdi^pabi^Gkqbok^qflk^i@^o?ppl`f^qflk*pb
`lkpqfqrvbk bk m^rq^p ab `^o~`qbo obcbobk`f^i
nrb `l^avrs^k ^ obplisbo ilp mol`bafj fbkqlp
ab ob`rp^`flkbp* pb^ nrb pb cloj ribk ^kqb bi
MQACl^kqb`r^inrfbolqo^fkpq^k`f^nrbobpri+
qb`ljmbqbkqb,
/76 Pl d b o  Tf a ^ i  P^jlp
PN* ;GF;DMKAGF=K
Ci ab_bo l i^ l_ifd^`fÉk ab ab`i^o^`fÉk ab ilp
~o_fqolp* obmobpbkq^ rk^ l_ifd^qlofba^a m^o^ ilp
~o_fqolp^cfkabo^qfcf`^olob^cfoj^oprp`lkaf`fl+
kbpabfkabmbkabk`f^bfjm^o`f^ifa^acobkqb^i^
m^oqbnrb il klj_olvi^ lqo^ m^oqbifqfd^kqb*v^
prsbwmbojfqbnrbpbbumobpb`r^inrfbo`fo`rkp+
q^k`f^fjmloq^kqbpl_obabpbjmbÇlmolcbpflk^i*
`lkaf`flkbp mboplk^ibp l `fo`rkpq^k`f^p nrb pb
mobpbkqbk^ijljbkqlabi^^`bmq^`fÉkvaro^kqb
biqo^kp`roplabimol`bpl^o_fqo^inrbmlaoÅ^`^r+
p^o^cb`q^`fÉk^prfjm^o`f^ifa^abfkabmbkabk`f^,
J^ob`rp^`fÉkobmobpbkq^bifkpqorjbkqlmol`bp^i
nrbpbiblqlod^^i^pm^oqbp^cfkabnrbbkafsbo+
plpprmrbpqlpnrb`lkpfabobknrbbufpq^kara^p
obpmb`qlabi^fjm^o`f^ifa^alfkabmbkabk`f^ab
ilp~o_fqolp*fk`rjmifjfbkqlabilpbpqfmri^albk
i^JbvabAlkqo^q^`flkbp*probdi^jbkqlvbiAÉaf+
dlab{qf`^*mrba^kfksl`^obiobqfoll^ibg^jfbk+
ql abi~o_fqollilp~o_fqolpabi mol`bpl^o_fqo^i,
Cp kb`bp^of^ rk^ ^mif`^`fÉk pfpqbj~qf`^ ab i^p
`^rp^ibpabob`rp^`fÉk&^oqÅ`ril003ÜabiPbdi^+
jbkqlabi^JbvabAlkqo^q^`flkbp'vbi^oqÅ`ril
3Ü&ab_bo ab fkcloj^`fÉk' abi AÉafdl ab {qf`^
m^o^bi^o_fqo^gbbki^p`lkqo^q^`flkbpabiMQAC*
afpmlpf`flkbp ibd^ibp nrb qfbkbk mlocfk^ifa^a
nrb ilp~o_fqolp`rjmi^k `lk `fboq^p`lkaf`fl+
kbp ibd^ibp & kl pbo m^oqb ab i^ ^ajfkfpqo^`fÉk
mÑ_if`^'* prgb`fÉk ^i `lksbkfl ^o_fqo^i v klo+
j^p* & Jbv ab `lkqo^q^`flkbp v pr obdi^jbkql'
ab`i^obk l obsbibk fkcloj^`fÉk sfk`ri^a^ ^ pr
~j _fqlb`lkÉjf`l&mlpf_ibfkqboÄpl_bkbcf`fl'
vmolcbpflk^iobpmb`ql^i^obi^`fÉk`ljbo`f^i*ab
^pbploÅ^ibd^i*abpfdk^`flkbp^kqboflobp*bjfpfÉk
ab fkclojbp*v`r^inrfboeb`ell`fo`rkpq^k`f^
nrbo^wlk^_ibjbkqbmrba^`^rp^oara^ppl_ob
pr fjm^o`f^ifa^alfkabmbkabk`f^,
QbdÑkbibpqraflbcb`qr^almloMQAC*i^j^vlo
m^oqbabob`rp^`flkbpclojri^a^pmloi^pm^oqbp
pb obi^`flk^k ^ l_gb`flkbp ab `^o~`qbo Äqf`l
ab ilp ~o_fqolp, Bb^eÅpb bsfabk`f^ nrb bk ilp
mboflalp0.//*0./0v0./1j~pabi5.#abjl+
qfslpl`^rp^ibpnrbprpqbkq^olkrk^ob`rp^`fÉk
bpqrsfbolkobi^`flk^alp`lkbifk`rj mifj fbkql
abiab_boabobsbi^`fÉkvara^pgrpqfcf`^a^pab
fkabmbkabk`f^bfjm^o`f^ifa^a,