@HYB_BI@I

0. Xbtu
Xbtu`h
`hbø
bøg
g pr
prfe
fekc
kcm`
m`

`. hfmf rcocrcghb` ck csqucm` ic kfs p`sfs ick prfhcsf ic tfm` ic ichbsbfgcs, bgibh`if
cg
(5ª.k`Cibhbøg).
obaur` 1.5, pàabg` Jbkk,
MhAr`w 001 ick kberf M`irba`k,
csqucm`tbz`r E. (5>>2).prfekcm`,
ug` sbtu`hbøg J`ebkbi`ics Ibrchtbv`s.
ibocrcgtc ` k`
tr`e`d`i` cg k` @@5, quc sc j`y` cvbicghb`if cg k` cmprcs` fedctf ic cstuibf,
cshfa
csh fabi
bi`` cg k` @@@@0,
0, ics
ics`r
`rrfk
rfkk`
k`gi
giff h`i
h`i`` ugf
ugf ic kfskfs `s
`spch
pchtfs
tfs bk
bkust
ustr`
r`if
ifss cg k`
mcghbfg`i` OBASU@ 1.5 Csqucm` ick prfhcsf ic tfm` ic ichbsbfgcs. Bmpfrt`gtc
tcgcr cg hucgt` quc ck ics`rrfkkf ic cstc pugtf icec p`rtbr ic ug` sbtu`hbøg
pr
prfek
fekcmcm`` vb
vbac
acgtc
gtc,, ic t`k sucrt
sucrtcc quc
quc ck cqu
cqubp
bpff pu
puci`
ci` acgcr
acgcr`r
`r su prfp
prfpuc
ucst`
st` y
`raumcgt`hbfgcs hfrrcspfgibcgtcs.
Xfkuhbøg 0
^`af fpfrtugf ` prfvccifrcs
H`rtcr` ic ^fsbekcs
^rfvccifrcs rcsukt`ifs
Xfkuhbøg 5 ic p`afs ic bgtcrcscs pfr
Ibsmbguhbøg
mfr`

^rfs
Hcrtbobh`hbøg ic Bgarcsf ic M^ `k bgvcgt`rbf (Hfstf ib`rbf)
H`us`hbøg ic bmpucstfs cg ck pcrífif hfrrcspfgibcgtc
@ktcrg`tbv`s Bgibh`ifrcs ic hucgt`s hk`vc (M^, bgarcsfs, MFI, cth.),
Okudf ic hfgtrfk prcvcgtbvf rc`k y ` ib`rbf
+ Okudf ic hfgtrfk
Hfgtr`s
hfrrchtbvf Bghrcmcgtf ic rchursf jum`gf cg `gàkbsbs (`prfx. 03%)
Ucqucrbmbcgtf tchgfkøabhf p`r` ck`efr`hbøg ic bgofrmcs

Okudf ic ^rcvcgtbvf
Bgofrmc ic cst`if ic utbkbz`hbøg ic FH (vcr bm`acg 0)
Okudf Hfrrchtbvf
Mcs` ic tr`e`df `rtbhuk`gif kfs icp`rt`mcgtfs ic
hfgt`ebkbi`i, hfmpr`s, cth. (vcr bm`acg 5)

 Ictcrmbg`r FH pcgibcgtcs pfr bgarcs`r

 Ictcrmbg`r icsvb`hbfgcs
icsvb`hbfgcs ic prchbfs y gfvci`ics ic
rchcphbøg
 _crbobh`r r`ibh`hbøg ic o`htur`s bgarcs`i`s cg ck CU^

 Acgcr`r scm`g`kmcgtc bgofrmc ic cst`if ic

utbkbz`hbøg ic FH
 @uibt`r cg h`mpf ck bgarcsf ic k`s FH y o`htur`s _s.
ck bgofrmc scm`g`k ic cst`if ic utbkbz`hbøg ic FH
 Acstbfg`r ck prfgtf p`af ic k`s o`htur`s cg mfr`
rcpfrt`i`s pfr ck prfvccifr
Bm`acg 0. Okudf ic Hfgtrfk ^rcvcgtbvf
Bm`acg 5. Okudf ic Hfgtrfk Hfrrchtbvf

Icshrbphbøg ick h`sf prfekcm`4

@htu`kmcgtc cg k` cmprcs` sc rchbecg scm`g`kmcgtc ^PU¹s ic prfvccifrcs pfr p`afs ic
o`htur`s hfg cgtrc 8> ` 8>> ií`s ic mfr`, cstf fh`sbfg`, cgtrc ftr`s hfs`s, p`afs `ktfs pfr
bgtcrcscs ic mfr`, pfsbekcs s`ghbfgcs pfr p`rtc ic k` IB@G pfr h`us`hbøg ic bmpucstfs y
rctcghbfgcs cg pcrbfifs gf hfrrcspfgibcgtcs, ekfqucfs ic sumbgbstrf pfr p`rtc ic `kaugfs
prfvccifrcs, cth.< cstf sc icec, prbghbp`kmcgtc, ` quc icebif `k `ktf vfkumcg ic o`htur`hbøg cg
kfs pugtfs ic rchcphbøg, kfs rcspfgs`ekcs gf bgarcs`g `k CU^ k` tft`kbi`i ic k`s FH y sus
rcspchtbv`s o`htur`s y pfr kf t`gtf gugh` sfg kkcv`i`s hfgt`ebkbi`i p`r` tr`mbt`r ck rcspchtbvf
p`af. Cs pfr cstf pfr kf quc sc ibscð`rfg
ibscð`r fg cstfs 5 okudfs ic o`htur`hbøg4
 Okudf ^rcvcgtbvf
Xc eush` ictcrmbg`r quc FH `ôg gf j`g sbif bgarcs`i`s ck cg CU^ y pficr i`r ck tràmbtc
rcspchtbvf
 Okudf Hfrrchtbvf

Xc eush` acstbfg`r ic m`gcr` prbfrbt`rb` k`s sfkbhbtuics r`ibh`i`s pfr kf prfvccifrcs

e. ¶Cg quâ hfg

hfgsbs
sbstc
tc ck usf ic ckcmc
ckcmcgtfs
gtfs hu`gtb
hu`gtbt`tb
t`tbvfs
vfs cg k` tfm` ic ichbsbf
ichbsbfgcs6
gcs6 Hb
Hbtc
tc 8
cdcmpkfs, e`df ibocrcgtcs cshcg`rbfs.
Ck usf ic ckcmcgtfs hu`gtbt`tbvfs hfgsbstc cg k` bghkusbøg ic v`rb`ekcs fedctbv`s mcibekcs quc
pcrmbt` ictcrmbg`r ugfs `gtchcicgtcs màs fedctbvfs p`r` m`xbmbz`r k` h`kbi`i ic k` ichbsbøg, k`
hu`k, cst`rà rcsp`ki`i` pfr cxpcrbcghb`s hfmprfe`ekcs y dubhbfs r`hbfg`kcs, `sí hfmf ic i`tfs
cst`iístbhfs.
Cdcmpkfs4

H`p`hbi`i4 Hu`gt`s ugbi`ics ic ug prfiuhtf pucic prfiuhbr ug` màqubg`
H`p`hbi`i Sgbi`
Sgbi`ics
=ics ^r
^rfiuhbi`s ( e`hj
fiuhbi`s màxbmf ) x tbcmpfic
e`hjcc màxbmf tbcmpf ic prfiuhhbøg

 Hfstf4 Ictcrmbg`r ck hfstf tft`k ic ug prfiuhtf

Hfstf = M^ + MFI + HBO

Ifgic,
M^4 m`tcrb` ^rbm`< MFI4 M`gf ic Fer` Ibrcht` y HBO4 Hfstfs Bgibrchtfs ic O`erbh`hbøg
  Stbkbi`i4 Ictcrmbg`r k` utbkbi`i gct` ic ug prfiuhtf vcgibif
Stbkbi`i _cgt`s Hfstf A`stfsfpcr`hbfg`kcs
= ∕ ∕ ∕ A`stfs
A`stfs gf fpcr`hbfg`k
fpcr`hbfg`kcs
cs

h. Bgibqu
Bgibqucc quâ e`rrcr`
e`rrcr`ss bmpbicg
bmpbicg k` ttfm`
fm` ic ichbsbfg
ichbsbfgcs
cs co
cochtbv`s
chtbv`s..

 Icshfgfhbmbcgtf ick tcm`

 Gf `pkbh`r f rcspct`r ck prfhcsf ic tfm` ic ichbsbfgcs, f qucer`gt`r `kaôg p`sf ic ibhjf
prfhcsf
 Yfm`r k` ichbsbøg cg ofrm` brr`hbfg`k
 ^rcdubhbfs psbhfkøabhfs4
b. Bku
Bkusbø
sbøgg ic hfgtrf
hfgtrfk4
k4 Hrcc
Hrccrr quc sc pucic bgokubr
bgokubr sfer
sfercc k`s sbtu`hb
sbtu`hbfgc
fgcs,
s, `ugquc
`ugquc gf sc
tcga` hfgtrfk sferc kf quc fhurrbrà
bb.
bb. Hcg
Hcgtr`
tr`kb
kbsmf4
smf4 Pucrc
Pucrc hfg
hfgtrf
trfk`r
k`r tfif
tfif
 Cv`ku`hbøg suedctbv` ic kfs jchjfs fedctbvfs
 Cochtfs ic pcrspchtbv`
 O`kt`
O`k t` ic fefedc
dctb
tbvb
vbi`
i`i4
i4 K` bgbgofr
ofrm`
m`hbhbøg
øg gf cs k` `i
`ich
chu`
u`i`,
i`, f sc cv cv`k
`kô`
ô` y `p
`pkb
kbh`
h` k`
bgofrm`hbøg ic ofrm` suedctbv`
 Icscstbm`r ck outurf4 Icec hfstc`rsc ` hfrtf y k`raf pk`zf


^rcsbfgcs ic tbcmpf, cstf bmpkbh`, t`gtf ug` ichbsbøg prchbpbt`i`, hfmf t`ri`r cg ichbibr.

5. Ics
Icshrb
hrbebr
ebr gchc
gchcsbi`
sbi`ics
ics jum
jum`g`s
`g`s quc sc j`y`g cvb
cvbicg
icghb`
hb`if
if cg k` cmpr
cmprcs`
cs` fedc
fedctf
tf ic
cs
cstui
tuibf
bf,, cs
cshfa
hfabi
bi`` cg k` @@@@00 y prfpf
prfpfgcr
gcr pk`g
pk`gcs
cs mf
mftbtbv`
v`hb
hbfg
fg`k
`kcs
cs,, dus
dustb
tbob
obh`
h`gif
gif su
vb`ebkbi`i, ic `hucrif hfg prcsupucstf y kbgc`mbcgtfs ic k`s ibrchtbv`s ic k` cmprcs`
cg hucstbøg, cg rck`hb
rck`hbøg
øg hfg `hhbfgc
`hhbfgcss quc pucicg scr cochtb
cochtbv`mcgtc
v`mcgtc `ick`gt
`ick`gt`i`s
`i`s pfr ck
icp`rt`mcgtf ic Y`kcgtf Jum`gf. (Gf sc tr`t` ic supfgcr quc sc puci` j`hcr, sbgf
ic acgcr`r prfpucst`s e`df k` rc`kbi`i ic k` cmprcs` fedctf ic cstuibf, cst`ekchbcgif
kbmbt`gtcs quc puibcscg cxbstbr).

Cmprcs`4 Pucsfs Ick _chhjbf

Cmpkc`ifs4 539
Àrc` Ibrchtbv`4 Dugt` ic `hhbfgbst`s, ^rcsbicghb`, Acrcghb`
@gtbaûci`i4 29 `ðfs

Gchcsbi`ics jum`g`s cg ck arupf ic tr`e`df Ick _chhjbf

Ycgbcgif cg hucgt` kf cxprcs`if cg ck tcxtf (M`irba`k E 5>>2), sc kfar` bicgtbobh`r cg prbmcr`
bgst`ghb` k` ibocrcghb` cxbstcgtc cgtrc kfs ‛h`prbhjfs” k`efr`kcs y k`s vcri`icr`s gchcsbi`ics, k`s
hu`kcs hfgtrbeuycg ` k` acgcr`hbøg ic icscfs (sc`g pfsbtbvfs f gca`tbvfs), p`r` pfstcrbfrmcgtc
hfgvcrtbrsc cg tcgsbfgcs k`s hu`kcs prfvfh`r`g `hhbfgcs ocj`hbcgtcs j`st` hfgscaubr f gf ug
scgtbmbcgtf ic s`tbso`hhbøg< pfr kf hu`k sc cvbicghb` hfmf o`htfrcs hfmugcs cg v`rb`s àrc`s ic
k` fra`gbz`hbøg kfs sbaubcgtcs4

 HFGOB@GT@4 Cxbstc ug mbcif cxhcsbvf ` sus supcrbfrcs, kf quc acgcr` quc sc `kbmcgtc
ug scgtbmbcgtf ic icshfgob`gz` cg ibstbgt`s hbrhugst`ghb`s hfmf kf sfg, `k qucrcr rc`kbz`r
ug `pfrtc, `k gchcsbt`r `tcghbøg, `pfyf f pcrmbsfs, `k bgtcgt`r humpkbr ` h`e`kbi`i ck
hfgiuhtfr rcauk`r, cgtrc ftrfs.

_BXBEBKBI@I4 Ck tr`e`d`ifr cg acgcr`k, hfgsbicr` quc su k`efr cg ck bgtcrbfr ic k`
hfmp`ðí` gf cs cx`kt`i` y quc sc i` màs hrâibtf pfr p`rtc ic k`s ibrchtbv`s, `k prfhcsf
obg`k ick prfiuhtf quc ` su prfiuhhbøg cg sí.
 IBGCUF4 @ugquc gf cg tfi`s k`s àrc`s sc prcscgt` cst` sbtu`hbøg, k` m`yfrí` ic kfs
hfk`efr`ifrcs
hfk`ef r`ifrcs (bghkub
(bghkubifs
ifs `kaugfs r`gafs ibrchtbvfs),
ibrchtbvfs), fpbg`g quc sus p`afs gf huercg k`s
gchcsbi`ics tft`kcs y quc `k gf cxbstbr bghcgtbvfs ic cst` ígifkc k` k`efr gf sc cdchut` hfg
ck mbsmf cgtusb`smf.
 ^UFMFH
^UF MFHBFG BFGCX
CX BGYC
BGYCUG@
UG@X4X4 K` m`y
m`yfr
fr p`rtc
p`rtc ick àrc`
àrc` ibrcht
ibrchtbv`
bv` (cxhcpt
(cxhcptff `kaugf
`kaugfss
hffribg`ifrcs y ck futsfurhbga obg`ghbcrf) sfg bgtcar`gtcs ic k` o`mbkb` Ick _chhjbf< `k
tcgcr cst` prcmbs`, k` hfmp`ðí` j`hc scgtbr `k tr`e`d`ifr quc su bgtcghbøg ic fhup`r ug
`ktf h`raf sc kbmbt` `k gf tcgcr ck hfmpfgcgtc prbghbp`k quc cs scr p`rtc ic k` o`mbkb`, cstf
acgcr` ug` bghcrtbiumerc `gtc su prfychtf ic ics`rrfkkf pcrsfg`k.
 H@^@HBY@HBFGCX4 Cs ic `gft`r quc k` cmprcs` Ick _chhjbf cs obck ` su prfhcsf
m`gu`k, jbstørbhf y kcacgi`rbf< pfr kf hu`k ug ar`g gômcrf ic tr`e`d`ifrcs hfgsbicr`g su
k`efr ‛mch`gbz`i`” y ic pfh` prfychhbøg p`r` ck mcrh`if `htu`k, cg hfmp`r`hbøg ic
ftrfs o`erbh`gtcs hfmf ‛`kpbg`” quc m`gcd` ug prfhcsf ibstbgtf (cg kf `esfkutf) p`r` k`
ck`efr`hbøg ic sus qucsfs,
 UCHUC@HBØG4 Ck hfk`efr`ifr bgtcrprct` hfmf ug ‛cghbcrrf” su kua`r ic tr`e`df< cstf,
sum`if ` k` mfgftfgí` ic k` k`efr, j`hc quc sc hrcc ug `eurrbmbcgtf y` quc ck pfhf
csp`hbf ic csp`rhbmbcgtf sc fetbcgc hu`gif rchbecg k`s vbsbt`s (mcgsu`kcs) ic ck/k`
rcprcscgt`gtc ic k` @UK p`r` rc`kbz`r p`us`s `htbv`s u ftr`s hj`rk`s ic pfh` iur`hbøg.
^k`gcs mftbv`hbfg`kcs

HFGOB@GT@4 ^`rtbcgif
rck`hbøg quc tbcgcg ic k` e`sc ic
kfs tr`e`d`ifrcs quck`k`prcsbicghb`
hfg bghfgofrmbi`i sc prcscgt`
ick arupf cg m`yfr
(k` hu`k prcsbiccsh`k`,
k` jbd`cgick
k`
ougi`ifr), y quc ck h`ràhtcr quc tbcgc k` prcsbicgt` gf cs su m`yfr vbrtui, y tcgbcgif cg hucgt` k`
bmpfrt`ghb` quc cstf hfgkkcv` y` quc sc tr`t`, cg icobgbtbv`, ic ug` gucv` ofrm` ic acstbfg`r k`s
cmprcs`s icsic ck t`kcgtf, bmpkcmcgt`gif ug mfickf bgtcar`if y hfjcrcgtc ic acstbøg ic k`s
pcrsfg`s, e`s`if cg k` `tr`hhbøg, ck ics`rrfkkf y ck hfmprfmbsf.
^`r` ckkf sc prfpfgcg fphbfgcs e`s`i`s cg ug mfickf hfgiuhtbst` hfmf kf sfg4
0. Hfmugbh`hbøg okubi`4
Xc j`hc âgo`sbs cg k` bmpfrt`ghb` ic k` hfmugbh`hbøg bgtcrg` cg k`s fra`gbz`hbfgcs p`r` `kh`gz`r
kfs fedctbvfs
fedctbvfs y mcdfr
mcdfr`r
`r k` prfiuhtbvbi`
prfiuhtbvbi`i.
i. Ic bau`k m`gcr`, k` hfmugbh`h
hfmugbh`hbøg
bøg cs hk`vc p`r` quc ck
hkbm
hkbm`
p`r` `quc
y k`s rck`hb
rck`hbfgcs
fgcs
ck tr`e`df k`efr`kcs
gf sc oughbfg
oughbfgcg,
hfgvbcrt` cg ugcg,
pr cvbt`r j`ek`r
prfekcm`.
fekcm`. ` csp`k
csp`ki`s
Xc hfgsbicr` i`s
qucicj`y
kfsquc
hfmp`ðcrfs
hfmp`ðcrf s cs ibrchtf
scr sbcmprc eàsbhf
cg kf quc sc tcga` quc hfmugbh`r ` ftr`s pcrsfg`s y `prfvchj`r ck tbcmpf kberc p`r` hfgvcrs`r

hfg kfs hfmp`ðcrfs `hcrh` ick tr`e`df f ic ftrfs tcm`s, cstf `yui` ` icshfgcht`rsc ug pfhf ic k`
rutbg` y ` `ob`gz`r k`s rck`hbfgcs.
5. Gf hukp`r ` ftr`s pcrsfg`s4

@ugquc ` vchcs k` pcrsfg` gf tcga` k` rcspfgs`ebkbi`i cg kfs crrfrcs f prfekcm`s icgtrf ic

`kaôg prfychtf cg k` cmprcs`, bghukp`r ibrcht`mcgtc ` ftrfs gf cs ug` k`efr quc gfs hfrrcspfgi`.
Xc pucic s`kv`r gucstr` rcspfgs`ebkbi`i sbg `hus`r ` ftrfs, tfifs tbcgcg icrchjf ` cqubvfh`rsc y
ck h`mbgf cs cghfgtr`r sfkuhbfgcs, gf prfocrbr `hus`hbfgcs. @sumbr k` rcspfgs`ebkbi`i quc
tcga`mfs hu`gif `kaf s`kc m`k y `yui`r ` qubcgcs sc j`g cqubvfh`if cs k` sfkuhbøg bgibh`i`.

8. Hfmp`rtbr ck âxbtf4
Hu`gif kfs hfmp`ðcrfs ic tr`e`df `kh`gz`g prbmcrf k`s mct`s f trbugo`g cg ug prfychtf, gf
icecmfs scgtbr hckfs f rcscgtbmbcgtf pfr ckkf. ^fr ck hfgtr`rbf, icecmfs `kcar`rgfs y `prcgicr ic
k` ofrm` hfmf kf kfar`rfg p`r` `pkbh`rkf cg gucstrf prfpbf tr`e`df. _`kfr`r ck tr`e`df ic kfs
ic
icmà
màss cs gc
hfmp`ðcrbsmfgchc
hcs`r
ys`rbf
ckbfbgtcrâs
p`r`
p`r` quc
ofr
ofrt`
t`kc
kchc
sc hcrr ckpfr
tbcgc hk
hkbm
bm`
ck `âxbtf
y k`
k`s
s rck
ick rck`h
`hbf
bfgc
gcs
tr`e`df s tfif
ic k`
k`efr
efr`k
`kcs
ck cs,
, cstf
cstf `kicmuc
cqubpf, icm ucst
str`
tbcmpf r`quc
ck
cvbt` rbv`kbi`ics bghfmfi`s.
9. @htbtui pfsbtbv`4
@ugquc sucg` rcpctbtbvf, k` `htbtui hfg k` quc sc `sumc h`i` ií` ic tr`e`df cs ictcrmbg`gtc p`r`
ck âxbtf ic k`s rck`hbfgcs hfg ck cqubpf. Xcp`r`r kfs prfekcm`s pcrsfg`kcs ic kfs `sugtfs
k`efr`kcs cs hk`vc p`r` m`gtcgcr ug eucg hkbm` k`efr`k. Mfstr`rsc `m`ekc c bgtcrcs`if pfr k`s
bgqubctuics ic kfs icmàs `yui` ` `hcrh`r ` k`s pcrsfg`s y ` mcdfr`r ck `mebcgtc. Mfstr`rsc
`kcarc y acgcr`r gucv`s hfgvcrs`hbfgcs cs rchfmcgi`ekc p`r` tcgcr ug ií` ` ií` øptbmf cg k`
fra`gbz`hbøg.

3. @yui`r y pcrmbtbrkf4
Cxbstcg mfmcgtfs cg kfs quc k` `yui` y fpbgbøg ic kfs tr`e`d`ifrcs cs gchcs`rb`. R cg csc
mfmcgtf cs hu`gif gft`rcmfs quc k`s eucg`s rck`hbfgcs k`efr`kcs sfg bgibspcgs`ekcs p`r`
ics`rrfkk`r gucstr`s k`efrcs. Cs bmpfrt`gtc mfstr`rsc ibspfgbekc p`r` `yui`r ` kfs hfmp`ðcrfs
hu`gif sc` pfsbekc c bau`kmcgtc icd`rsc `yui`r hu`gif kf gchcsbtcmfs. Ck tr`e`df cg cqubpf
oughbfg` muhjf mcdfr quc ck bgibvbiu`kbsmf p`r` `kh`gz`r k`s mct`s y pcrmbtc hfmp`rtbr
hfgfhbmbcgtfs y `ob`gz`r k`s rck`hbfgcs k`efr`kcs.
Cg hfghkusbøg, ug eucg okudf ic hfmugbh`hbøg, cvbt`r hukp`r ibrcht`mcgtc ` ftr`s pcrsfg`s ic kfs
crrfrcs, hfmp`rtbr y hckcer`r ck âxbtf ic kfs hfk`efr`ifrcs, m`gtcgcr sbcmprc ug` `htbtui pfsbtbv`
y hfgstruhtbv` y `yui`r y icd`rsc `yui`r sfg `spchtfs eàsbhfs p`r` hfgstrubr ug`s rck`hbfgcs
k`efr`kcs
k`efr`kcs oucrtcs, `m`ekcs y prfvchjfs`s, kf hu`k sc rcokcd
rcokcd`rà
`rà cg ck cst`if ick hkbm` k`efr`k cg k`
fra`gbz`hbøg.
_BXBEBKBI@I4 Ycgcr `htbvf `k hfk`efr`ifr y cvbt`r quc su àgbmf ich`ba` `k gf scgtbr v`kfr`i`
su k`efr bgtcrg`, pucic fh`sbfg`r e`d`s hfgsbicr`ekcs cg k` prfiuhtbvbi`i, pfr kf hu`k sc

hfgtcmpk` ug` `ktcr

hfgtcmpk` `ktcrg`tbv`
g`tbv` rck`hbf
rck`hbfg`i`
g`i` hfg k` Ycfrí` ic M`skf
M`skfw
w ‛CUA” y pficrk` ics`rrfkk`r
ics`rrfkk`r ic
k` sbaubcgtc m`gcr`4
PSC XC@ K@ ^CUXFG@ @ICHS@I@

Hu`gtf màs r`gaf tcga` qubcg i` k` ockbhbt`hbøg, màs ichbsbv` scrà cst`. Xb cs ck prcsbicgtc cg
pcrsfg` qubcg sc `hcrh` ` i`r k` m`gf, mcdfr quc sb cs su supcrbfr bgmcib`tf. Xb sc qubcrc
bmp`ht`r, ck prfpbf Dcoc pucic j`hcr k` mcghbøg ` k` pcrsfg` quc sc k` mcrczh`.

J@HCUKF H@U@ @ H@U@

R, sb k` ibst`ghb` gf kf pcrmbtc, `gtcs pfr ví` tckcoøgbh` quc pfr m`bk. @ugquc sc pucicg
hfmebg`r k`s ifs4 prbmcrf ug` kk`m`i` y màs t`ric ug hfrrcf f ug mcgs`dc, p`r` hfgobrm`r pfr
cshrbtf kf quc sc j` ibhjf.
OCKBHBY@U CG ^ÔEKBHF

Cs hbcrtf quc tbcgc ug pcsf m`yfr ug` p`km`ibt` cg ck jfmerf ick`gtc ic ftrfs hfmp`ðcrfs f ic
ftrfs supcrbfrcs, pcrf gugh` icec i`r k` scgs`hbøg ic quc ockbhbt`mfs søkf hu`gif j`y ftrfs dcocs
ick`gtc, hfmf cstr`tcab` p`r` j`hcr hrccr quc sc cs ug supcrbfr quc tr`t` muy ebcg `k cqubpf.
K@ XBGHCUBI@I
Cs gchcs`rbf quc ck dcoc cvbtc k`s or`scs jchj`s y k`s p`k`er
p`k`er`s
`s quc gf sfg ick kcgau`dc
kcgau`dc hftbib`gf,
hftbib`gf,
k` prfpb` cxprcsbøg ‛tc ockbhbtf” sucg` muy cstcrcftbp`i`. Cs mcdfr rchurrbr ` ftrf tbpf ic
cxprcsbfgcs màs hcrh`g`s y sferc tfif, quc sc`g jfgcst`s. ^fr cdcmpkf4 ‛Cstfy muy fraukkfsf
ick csoucrzf quc cst`s rc`kbz`gif”.
J@HCUKF IC M@GCU@ BGMCIB@Y@ R F^FUYSG@
Ck rchfgfhbmbcgtf icec rc`kbz`rsc dustf cg ck mfmcgtf cg quc sc prfiuhc ck tr`e`df ebcg jchjf.
Xb sc cspcr` icm`sb`if, pbcric oucrz`. ‛Yc `ar`iczhf k`s jfr`s quc tc j`s quci`if cst` scm`g`
p`r` s`h`r ck prfar`m` `ick`gtc”.
XCU CX^CHÍOBHF
Cg kua`r ic ichbr ‛Puc ebcg pfr k` prcscgt`hbøg, j` sbif m`agíobh`”, cs mcdfr hfghrct`r y ichbr
cx`ht`mcgtc
cx`ht`mcgtc kf quc austø ic k` prcscgt
prcscgt`hbøg
`hbøg y pfr quâ4 ‛J`s jchjf ug` prcscgt`hbøg
prcscgt`hbøg m`agíobh`.
m`agíobh`.
Mc j` aust`if cspchb`kmcgtc ck `gàkbsbs quc j`s rc`kbz`if sferc k` cvfkuhbøg ic k`s vcgt`s, cs
muy hk`r` y hfghbs`”.
Cs ic sum` bmpfrt`ghb` quc cst` cstr`tcab` sc` bv`g`i` y `kbmcgt`i` hfg sum` supcrvbsbøg pfr ck
Cs ic sum` bmpfrt`ghb` quc cst` cstr`tcab` sc` bv`g`i` y `kbmcgt`i` hfg sum` supcrvbsbøg pfr ck
àrc` ic t`kcgtf jum`gf, p`r` ckkf sc rcqucrbrà `kaôg tbpf ic h`p`hbt`hbøg (ic e`df hfstf) `k prfpbf
Acrcgtc, hffribg`ifrcs y supcrvbsfrcs.
IBGCUF4 I`if quc k` sbtu`hbøg chfgømbh` `htu`k ic ‛Pucsfs Ck _chhjbf” gf cs k` mcdfr, `k
pugtf ic tcgcr quc hfgtr`t`r ug `acgtc tcrhcrbz`if p`r` m`gcd`r su sbtu`hbøg obg`ghbcr`, sc
prfpfgc ug` cstr`tcab` ic humpkbmbcgtf ic mct`s e`s`i` cg p`rtc cg ug mfickf mch`gbz`if,

pcrf `pfrt`gif p`rtc ic k` tcfrí` ic (M`guck Ií`z 5>>1) cg k` quc sc

s c prfpfgc
prfp fgc quc
qu c ck ibgcrf sc`
p`rtc ic rchfgfhbmbcgtf ` su k`efr.
^`r` cstc pugtf sc pucic hfgtcmpk`r cgtfghcs ug bghcgtbvf `ibhbfg`k pfr humpkbmbcgtf ic mct`s,
bgbhb`gif pfr ck àrc` ic vcgt`s (cg m`yfr pfrhcgt`dc) c br `ichu`gif ck bghcgtbvf ` su v`kfr dustf
pfr h`i` k`efr. Cstf `scaur`rà quc k`s vcgt`s sc bghrcmcgtcg y quc csc mbsmf bghrcmcgtf,
o`hbkbtc ‛rcp`rtbr k` tfrt`” cgtrc k`s ibstbgt`s àrc`s.
^UFMFHBFGCX BGYCUG@X4 K` `ktcrg`tbv` prfpucst` p`r` cst` gchcsbi`i, r`ibh` cg k` tcfrí`
ic MhHkckk`g e`s`i` cg ck kfarf, pficr y `obkb`hbøg, y` quc sc pucic hfgsbicr`r quc ug tr`e`d`ifr
quc hfg su icscmpcðf hfgiuzh` ` kfarfs hfrpfr`tbvfs pucic scr tcgbif cg hucgt` p`r` t`rc`s
outu
outur`s
r`s (cspc
(cspchí
híob
obh`s
h`s),
), qu
qucc j`a`g
j`a`g scgt
scgtbr
br `k hf
hfk`
k`efr
efr`i
`ifr
fr cmpf
cmpfic
icr`i
r`iff ic ug tctcm`
m` ‛Z”,
‛Z”, cs
cstc
tc
rchfgfhbmbcgtf sum`if `k icscmpcðf ic ibhj` t`rc`, scrà ck tcrmømctrf p`r` ug` pfstcrbfr tfm`
ic ichbsbfgcs rck`hbfg`i`s hfg ug `shcgsf k`efr`k `hfmp`ð`if pfr supucstf, ic ug bghrcmcgtf
chfgømbhf. Xc prfpfgc quc ibhjf pk`g ‛pbkftf” sc rc`kbhc pfr mcibf ic ug` ibvuka`hbøg ic
prfmfhbøg cg hbhkfs scmcstr`kcs, p`r` quc ` ckk` `hhci`g kfs tr`e`d`ifrcs ` su dubhbf màs
h`p`hbt`ifs p`r` ibhj` k`efr< cstf bghcgtbv`rà k` h`p`hbt`hbøg y k` supcr`hbøg pcrsfg`k cg ck
hfk`efr`ifr.
H@^@HBY@HBØG4 Xc hfgtcmpk` cg cstc pugtf quc k` icobhbcghb` c bgs`tbso`hhbøg sc cghucgtr`
cg m`yfr gômcrf cg kfs tr`e`d`ifrcs ic àrc`s ‛ibrchtbv`s” y quc pfsccg pcrsfg`k ` h`raf, pfr kf
hu`k sc prfpfgc bmpkcmcgt`r k` pfgcghb` ic (M`guck Ií`z 5>>1) rck`hbfg`i` hfg k` scaurbi`i cg
ck ibrchtbvf, hfmpucst` pfr4
 Cst`ebkbi`i cg ck cmpkcf
 Hfmpcgs`hbøg chfgømbh`
 Fpfrtugbi`ics ic `shcgsf
 Uchfgfhbmbcgtf pfr p`rtc ic k` cmprcs`
 ^fsbebkbi`i ic bgbhb`tbv` y hrc`tbvbi`i
 Acgtc ` su h`raf

Ofrm`hbøg y h`p`hbt`hbøg**
 @kh`gz`r rctfs
**`k mcghbfg`r cg gchcsbi`ics `gtcrbfrcs k` m`yfrí` ic cst` kbst`, y sbcgif cstc ugf ic kfs
`spchtfs mcghbfg`ifs pfr ck pfgcgtc p`r` k` mftbv`hbøg ick Ibrchtfr< sc prfpfgc hfgtcmpk`r ug`
p`rtc mígbm` ick pr
prcsupucstf
csupucstf `gu`k, p`r` h`p`hbt`hbfgcs quc pcrmbt`g `k ibrchtbvf su
s u ics`rrfkkf
prfocsbfg`k.

UCHUC@HBØG4 ^`r` cst` gchcsbi`i màs eàsbh`, pcrf bau`kmcgtc bgokuycgtc ` k` mftbv`hbøg ick
cmpkc`
cmpk c`if,
if, sc prfpf
prfpfgc
gc ug prprfar
far`m
`m`` ic
icpfr
pfrtb
tbvf
vf,, ck hu
hu`k
`k sc ics`rr
ics`rrfk
fkk`
k`rà
rà cg mfi`
mfi`kb
kbi`
i`ii ic
‛h`mpc
‛h` mpcfg`t
fg`tfs
fs bgtcrg
bgtcrgfs”
fs” ic ibs
ibstbg
tbgt`s
t`s ibshbp
ibshbpkbg
kbg`s,
`s, p`r` quc ck tr`
tr`e`d
e`d`if
`ifrr tcga`
tcga` mfm
mfmcgt
cgtff ic
csp`rhbmbcgtf, tfif ` e`df hfstf p`r` k` cmprcs`, pfr kf hu`k, sc `hfgscd` rc`kbz`r cst`s
`htbvbi`ics, cg hbhkfs ic gf màs ic ug` jfr` `k ií`, p`r` gf `ocht`r k` prfiuhtbvbi`i.
8. Bicgt
Bicgtoh`
oh`rr kfs fefedct
dctvfs
vfs fra`g
fra`gbz`
bz`hbf
hbfg`k
g`kcs
cs ic k` cmprc
cmprcs`
s` cg csuib
csuibf,
f, csh
cshfab
fabi`
i` cg k`
@@0, `g`kbz`r sb kfs mbsmfs sc csàg humpkbcgif, dustoh`gif su rcspucs` ick pfr quâ sc

hfgsbicr` quc sí sc csàg kkcv`gif ` h`ef y p`r` ck f kfs fedctvfs quc gf sc csâg
humpkbcgif, pk`gc`r pfsbekcs prfhcsfs ic h`mebf.

FEDCYB_FX XB GF ^K@GYC@MBCGYF
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EBEKBFAU@OB@

 J`ebkbi`ics Ibrchtbv`s. (5ª. Cibhbøg). M`irba`k 5>>2

 www.ekf
www.ekfacmpr
acmprcgici
cgicifrcs.
frcs.cs
cs
 jttps4//www.fescrv`tfrbfrj.hfm/frj-pfsts
 jtp
jtps4//qucsfsic
s4//qucsfsickvchhjbf.hfm
kvchhjbf.hfm//
 jtps4//www.bmpfr`ghb`.fra/fedcvfs.pjp