Mapa Mental - Regime Juridico

LLEEI I 88..111122//990 0 EEMM

MMAAPPAAS S MMEENNTTAAIISS - Regime Jurdico dos Servidores Pblicos Federais

Otimizando o aprendizado e a memorizao, com a reviso esquematizada da matria

THIAGO STRAUSS

MARCELO LEITE

SUMRIO

Viso Geral da Lei 8.112/90 ........................................................................ 3

1. Agentes Pblicos .................................................................................... 4Noes Introdutrias ................................................................................ 4

Classificao ........................................................................................... 5

2. Disposies Constitucionais ................................................................... 6Sistema Remuneratrio ............................................................................ 8

Regime Prprio de Previdncia dos Servidores Pblicos ................................. 10

3. Provimento, Vacncia, Remoo, Redistribuio e Substituio ............. 12Provimento e Posse .................................................................................. 12

Exerccio e Estgio Probatrio .................................................................... 13

Formas de Provimento .............................................................................. 14

Vacncia ................................................................................................. 17

Remoo, Redistribuio e Substituio ...................................................... 18

4. Direitos e Vantagens .............................................................................. 19Vencimento e Remunerao ...................................................................... 19

Vantagens .............................................................................................. 20

Frias ..................................................................................................... 25

Licenas ................................................................................................. 26

Afastamentos .......................................................................................... 31

Concesses ............................................................................................. 34

Direito de petio .................................................................................... 35

5. Regime Disciplinar ................................................................................. 36Deveres .................................................................................................. 36

Proibies ............................................................................................... 37

Responsabilidades .................................................................................... 39

Penalidades ............................................................................................. 41

6. Processo Administrativo Disciplinar ....................................................... 44Noes Preliminares ................................................................................. 44

Sindicncia ............................................................................................. 45

Rito Ordinrio do PAD ............................................................................... 46

Rito Sumrio do PAD ................................................................................ 48

Prazos .................................................................................................... 48

7. Seguridade Social do Servidor ............................................................... 49Disposies Gerais ................................................................................... 49

Benefcios ............................................................................................... 50

Assistncia Sade ................................................................................. 53

www.pontodosconcursos.com.br

Lei 8.112/1990

1. AgentesPblicos

Noes Introdutrias

Classificao

2. DisposiesConstitucionais

DisposiesConstitucionais

SistemaRemuneratrio

Regime Prprio dePrevidncia dosServidores Pblicos

3. Provimento, Vacncia, Remoo, Redistribuio

e Substituio

Provimentoe Posse

Exerccioe EstgioProbatrio

Provimento

Vacncia

Remoo

Redistribuio

Substituio

4. Direitose Vantagens

Vencimento eRemunerao

Vantagens

Indenizaes

Gratificaes

Adicionais

Frias

Licenas

Afastamentos

Concesses

Direito de petio

7. Seguridade Social do

Servidor

Disposies Gerais

Benefcios

Aposentadoria

Auxlio-Natalidade

Salrio-Famlia

Penso

Auxlio-Funeral

Auxlio-Recluso

Assistncia Sade

6. Processo Administrativo

Disciplinar

NoesPreliminares

Sindicncia

RitoOrdinriodo PAD

RitoSumriodo PAD

Prazos

5. RegimeDisciplinar

Deveres

Proibies

Responsabilidades

Penalidades

Advertncia

Suspenso

Demisso

Cassao

Destituio

LEI 8.112/90 - VISO GERAL7KLDJR6WUDXVV0DUFHOR/HLWH

ZZZSRQWRGRVFRQFXUVRVFRPEU

/HLHP0DSDV0HQWDLVS

$JHQWHV3~EOLFRV

&RQFHLWR

$JHQWHVS~EOLFRVVmRWRGRVDTXHOHVTXHH[HUFHP)81d23%/,&$FRPRSUHSRVWRVGR(VWDGR6mRWRGDVDVSHVVRDVItVLFDVTXHPDQLIHVWDPSRUDOJXPWLSRGHYtQFXORDYRQWDGHGR(VWDGR

&DUJRHPSUHJRHIXQomR

&DUJRS~EOLFR

6mRDVPDLVVLPSOHVHLQGLYLVtYHLVXQLGDGHVGHFRPSHWrQFLDDVHUHPH[SUHVVDVSRUXPDJHQWHSUHYLVWDVHPQ~PHURFHUWRFRPGHQRPLQDomRSUySULDUHWULEXtGDVSRUSHVVRDVMXUtGLFDVGHGLUHLWRS~EOLFRHFULDGDV SRUOHL %DQGHLUDGH0HOOR&RQMXQWRGHDWULEXLo}HVHUHVSRQVDELOLGDGHVSUHYLVWDVQDHVWUXWXUDRUJDQL]DFLRQDOTXHGHYHPVHUFRPHWLGDVDXPVHUYLGRU /HLDUW8QLGDGHGHDWULEXLo}HVFXMRRFXSDQWHSRVVXLYtQFXORHVWDWXWiULRFRPR(VWDGR

7LSRV

, 9LWDOtFLR0HPEURVGR3RGHU-XGLFLiULR0HPEURVGR0LQLVWpULR3~EOLFR0HPEURVGRV7ULEXQDLVGH&RQWDV3DUWHGDGRXWULQDFODVVLILFDRVRFXSDQWHVGHFDUJRVYLWDOtFLRVFRPR$*(17(632/7,&26

,, (IHWLYR2FXSDQWHGHFDUJRV ,VRODGRVRX2UJDQL]DGRVHPFDUUHLUD

,,, (PFRPLVVmR'HVWLQDGRVjGLUHomRFKHILDHDVVHVVRUDPHQWR&)DUW9

(PSUHJRS~EOLFR

6mRQ~FOHRVGHHQFDUJRVGHWUDEDOKRSHUPDQHQWHVDVHUHPSUHHQFKLGRVSRUDJHQWHVFRQWUDWDGRVSDUDGHVHPSHQKiORVVREUHODomRWUDEDOKLVWD %DQGHLUDGH0HOOR8QLGDGHGHDWULEXLo}HV FXMRRFXSDQWHSRVVXLYtQFXORFRQWUDWXDOFRPR(VWDGRVREDUHJrQFLDGD&/7

)XQomRS~EOLFD

6mRSOH[RVXQLWiULRVGHDWULEXLo}HVFULDGDVSRUOHLFRUUHVSRQGHQWHVDHQFDUJRVGHGLUHomRFKHILDHDVVHVVRUDPHQWRDVHUHPH[HUFLGDVSRUWLWXODUHVGHFDUJRHIHWLYR%DQGHLUDGH0HOOR&RQMXQWRGHDWULEXLo}HVH[HUFLGDVSRUDJHQWHVS~EOLFRVjVTXDLVQmRFRUUHVSRQGHXPFDUJRRXHPSUHJRS~EOLFRV'L3LHWUR

7LSRV

,)XQomRH[HUFLGDSRUVHUYLGRUHV

FRQWUDWDGRVWHPSRUDULDPHQWH

&RQWUDWDGRVSRUWHPSRGHWHUPLQDGRSDUDDWHQGHUjQHFHVVLGDGHWHPSRUiULDGHH[FHSFLRQDOLQWHUHVVHS~EOLFR1mRVH H[LJH

QHFHVVDULDPHQWHFRQFXUVRS~EOLFR

,,)XQo}HVGH QDWXUH]DSHUPDQHQWH

6mRGHVWLQDGDVjVDWULEXLo}HVGHGLUHomRFKHILDHDVVHVVRUDPHQWR([HUFLGDVH[FOXVLYDPHQWHSRUVHUYLGRUHVRFXSDQWHVGHFDUJRHIHWLYR&)DUW9

$*(17(63%/,&2612d(6,1752'875,$67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

&ODVVLILFDomR

$JHQWHVSROtWLFRV

&RQFHLWR

6mRRVDJHQWHVS~EOLFRVTXHH[HUFHPD)81d232/7,&$([&KHIHVGR3RGHU([HFXWLYRHVHXVDX[LOLDUHV

GLUHWRVPHPEURVGR3RGHU/HJLVODWLYR3DUWHGDGRXWULQDFRQVLGHUDWDPEpPFRPRDJHQWHVSROtWLFRVRVTXHH[HUFHPSDUFHODGDVREHUDQLDGR(VWDGRDWULEXLo}HVFRQVWLWXFLRQDLV

([0(0%526GD0DJLVWUDWXUDGR0LQLVWpULR3~EOLFRHGRV7ULEXQDLVGH&RQWDV

&DUDFWHUtVWLFDV

3RVVXHP statusFRQVWLWXFLRQDO

6XMHLWRVjVUHJUDVGD&RQVWLWXLomR)HGHUDO1mRVXMHLWRVjV UHJUDVFRPXQVGRVVHUYLGRUHVS~EOLFRV

1mRHVWmRHPUHJUDVXMHLWRVjKLHUDUTXLD

([FHomR$X[LOLDUHVLPHGLDWRVGRVFKHIHVGR3RGHU([HFXWLYR

$JHQWHVDGPLQLVWUDWLYRV

&RQFHLWR

6mRDTXHOHVYLQFXODGRVDR(VWDGRSRUXPDUHODomRSHUPDQHQWHGHWUDEDOKR

'HILQLWLYLGDGH

5HJUDJHUDO

2VHUYLGRUH[HUFHVXDIXQomRFRPFXQKRGHSHUPDQrQFLD

([FHomR)XQomRGHFDUiWHUWHPSRUiULR

([HUFHPXPDIXQomRS~EOLFDGHQDWXUH]DSURILVVLRQDOHUHPXQHUDGD'HQRPLQDGRV6(59,'25(63%/,&26HPVHQWLGRDPSOR

7LSRV

, 6HUYLGRUHVWDWXWiULR

2FXSDP&$5*2S~EOLFR L (IHWLYRLL (PFRPLVVmR

5HJLPHMXUtGLFR/(*$/

(VWDWXWRMXUtGLFRHVWDWXWiULR

,, (PSUHJDGRS~EOLFR

2FXSDP(035(*2S~EOLFR5HJLPH MXUtGLFR&2175$78$/WUDEDOKLVWD &/7

,,, 6HUYLGRUWHPSRUiULR

([HUFHP)81d2S~EOLFDHPFDUiWHUWHPSRUiULR&RQWUDWDGRVSRUWHPSRGHWHUPLQDGRSDUDDWHQGHUjQHFHVVLGDGHWHPSRUiULDGHH[FHSFLRQDOLQWHUHVVHS~EOLFR5HJLPHMXUtGLFR(63(&,$/PLVWR&)DUW,;

$JHQWHVGHOHJDGRV

5HFHEHPGR(VWDGRDLQFXPErQFLDGHH[HUFHUGHWHUPLQDGDDWLYLGDGHS~EOLFDHPVHXSUySULRQRPHVHPYtQFXORHPSUHJDWtFLRVREILVFDOL]DomRGR3RGHU3~EOLFR([OHLORHLURVSHULWRVVHUYLoRVQRWDULDLV &)DUW

FRQFHVVLRQiULRVSHUPLVVLRQiULRVHDXWRUL]DWiULRV

$JHQWHVKRQRUtILFRV

&RODERUDPFRPR(VWDGRWHPSRUDULDPHQWHHPUD]mRGHVXDFRQGLomRFtYLFDGHVXDKRQRUDELOLGDGHRXGHVXDQRWyULDFDSDFLGDGHSURILVVLRQDO1mRSRVVXHPYtQFXORSURILVVLRQDOFRPD$GPLQLVWUDomR3~EOLFD

([-XUDGRVPHViULRVHWF

$JHQWHVFUHGHQFLDGRV

5HFHEHPDLQFXPErQFLDSDUDUHSUHVHQWDUD$GPLQLVWUDomR3~EOLFDHPGHWHUPLQDGDVDWLYLGDGHVPHGLDQWHUHPXQHUDomRGR3RGHU3~EOLFRFUHGHQFLDQWH

$*(17(63%/,&26&/$66,),&$d27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

'LVSRVLo}HV&RQVWLWXFLRQDLV

$FHVVR

&DUJRHPSUHJRHIXQomRS~EOLFD

,%UDVLOHLUR

'HYHSUHHQFKHURVUHTXLVLWRVHVWDEHOHFLGRVQDOHL1RUPDFRQVWLWXFLRQDOGHHILFiFLDFRQWLGD

5HTXLVLWRVSDUDDFHVVRDFDUJRVHHPSUHJRVS~EOLFRV

L'HYHPVHUSUHYLVWRVHPOHL(GLWDOQmRSRGH HVWDEHOHFHUUHTXLVLWRVRXUHVWULo}HVDRDFHVVR

LL'HYHPREVHUYDURSULQFtSLRGDUD]RDELOLGDGH

LLL'HYHPHVWDU UHODFLRQDGRVjQDWXUH]DGDVDWULEXLo}HVGRFDUJRRXGRHPSUHJR

LY'HYHPVHSDXWDUHPFULWpULRVREMHWLYRV

&)DUW,

,,(VWUDQJHLUR 1DIRUPDGDOHL1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD&)DUW,

,,,&DUJRVSULYDWLYRVGHEUDVLOHLURQDWR

L3UHVLGHQWHH9LFH3UHVLGHQWHGD5HS~EOLFDLL3UHVLGHQWHGD&'HGR6)LLL0LQLVWURGR67)LY0LQLVWURGH(VWDGRGD'HIHVDY2ILFLDOGDV)RUoDV$UPDGDVYL&DUUHLUDGLSORPiWLFD

&)DUW

&RQFXUVRS~EOLFR

2EULJDWyULR &DUJRS~EOLFR

&DUJRHIHWLYR&DUJRHPFRPLVVmR /LYUHQRPHDomRHH[RQHUDomR1mRSUHFLVDGHFRQFXUVR

(PSUHJRS~EOLFR

3UD]RGHYDOLGDGH

$Wp DQRV3URUURJiYHOYH]SRULJXDOSHUtRGR&)DUW,,,'XUDQWHRSUD]RLPSURUURJiYHORDSURYDGRVHUiFRQYRFDGRFRPSULRULGDGHVREUHQRYRVFRQFXUVDGRV&)DUW,9

5HDOL]DomRGHQRYRFRQFXUVRHQTXDQWRYiOLGRRDQWHULRU

&) 3HUPLWH

/HL

1mRSHUPLWHHQTXDQWRKRXYHUFDQGLGDWRDSURYDGRHPFRQFXUVRDQWHULRUFRPSUD]RQmRH[SLUDGR

DUW

3RUWDGRUHVGHGHILFLrQFLD

/HLUHVHUYDUiGRVFDUJRVHHPSUHJRVS~EOLFRV

/HL5HVHUYD$7e GDVYDJDVTXHVHMDPFRPSDWtYHLVFRPDGHILFLrQFLD

DUW

&)DUW9,,,

(VWDELOLGDGH

&RQFHLWR

eXPDJDUDQWLDGHRUGHPFRQVWLWXFLRQDO&RQIHULGDDRFXSDQWHVGHFDUJRS~EOLFR()(7,929LVDDVVHJXUDUVXDSHUPDQrQFLDQRFDUJRHQTXDQWRDWHQGLGRVRVUHTXLVLWRVOHJDLV

5HTXLVLWRV

,$SURYDomRHPFRQFXUVRS~EOLFRSDUDFDUJRS~EOLFRGHSURYLPHQWRHIHWLYR

,, 7UrVDQRVGHHIHWLYRH[HUFtFLR,,, $YDOLDomRHVSHFLDOGHGHVHPSHQKRSRU

FRPLVVmRLQVWLWXtGDSDUDHVVDILQDOLGDGH(VWDELOLGDGHH[FHSFLRQDO DQmRFRQFXUVDGRV

6HUYLGRUHVS~EOLFRVHPH[HUFtFLRQDGDWDGDSURPXOJDomRGD&)KiSHORPHQRVDQRV FRQWLQXDGRVDUWGR$'&7

&)DUW

+LSyWHVHV GHSHUGDGRFDUJRDSyVDHVWDELOLGDGH

,6HQWHQoDMXGLFLDOWUDQVLWDGDHPMXOJDGR,, 3URFHVVRDGPLQLVWUDWLYRDVVHJXUDGDDPSODGHIHVD,,,3URFHGLPHQWRGHDYDOLDomR

SHULyGLFDGHGHVHPSHQKR1DIRUPDGDOHLFRPSOHPHQWDU

1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD,9&XPSULPHQWRGRVOLPLWHVFRPDGHVSHVD

FRPSHVVRDODWLYRHLQDWLYR &)DUW1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD

&)DUW

',6326,d(6&2167,78&,21$,6,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

+DYHQGRFRPSDWLELOLGDGHGHKRUiULRV

'LVSRVLo}HV&RQVWLWXFLRQDLV

$FXPXODomR

&DUJRHPSUHJRHIXQomR

9('$'$D DFXPXODomRUHPXQHUDGDGH

&DUJRV(PSUHJRVRX)XQo}HV

3(50,7,'$DFXPXODomR

, FDUJRVGHSURIHVVRU,,&DUJRGHSURIHVVRU

FDUJRWpFQLFRRXFLHQWtILFR,,, FDUJRV SULYDWLYRV

GDiUHDGHVD~GH,90DQGDWRGH

YHUHDGRU &)DUW,,,93HUPLVVmRSDUDMXt]HV

H[HUFHUHPRPDJLVWpULR&)DUWS~QLFR,

9,3HUPLVVmRSDUDPHPEURVGR0LQLVWpULR3~EOLFR

H[HUFHUHPRPDJLVWpULR&)DUW,,G

&)DUW;9,H;9,,

3URYHQWRVGHDSRVHQWDGRULDGRUHJLPHGHSUHYLGrQFLDSUySULRGRVVHUYLGRUHV5336

9('$'$DDFXPXODomRGH

3URYHQWRVGHDSRVHQWDGRULDGR5336

5HPXQHUDomRGHFDUJRHPSUHJRRXIXQomR

([FHWRSDUD

&DUJRVDFXPXOiYHLVQDIRUPDGD&RQVWLWXLomR&DUJRVHOHWLYRV&DUJRVHPFRPLVVmR

&)DUW

'LUHLWRj$VVRFLDomR6LQGLFDO

$RVHUYLGRUS~EOLFR&,9,/pJDUDQWLGRRGLUHLWRjOLYUHDVVRFLDomRVLQGLFDO1RUPDFRQVWLWXFLRQDOGHHILFiFLDSOHQD

$XWRDSOLFiYHO

)L[DomRGHYHQFLPHQWRVGRVVHUYLGRUHVS~EOLFRV

1mRSRGHVHUREMHWRGHFRQYHQomRFROHWLYD67)6~PXOD

1HJRFLDomRFROHWLYDpLQFRPSDWtYHOFRPRUHJLPHHVWDWXWiULR&)DUW9,

'LUHLWRGH*UHYH

([HUFLGRQRVWHUPRVHQRVOLPLWHVGHILQLGRVHPOHLHVSHFtILFD1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD

1mRDXWRDSOLFiYHO

67)(QTXDQWRQmRHGLWDGDDOHLTXHUHJXODPHQWDRLQFLVR9,,GRDUWGD&)DSOLFDVHQRTXHFRXEHUDOHLGHJUHYHYLJHQWHQRVHWRUSULYDGR

2DUW9,, QmRVHDSOLFDDRVHPSUHJDGRVS~EOLFRVUHJLGRVSHORDUWGD&)2GLUHLWRGHJUHYHpYHGDGRDRVPLOLWDUHVDUW,9

&)DUW9,,

',6326,d(6&2167,78&,21$,6,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

6LVWHPD5HPXQHUDWyULR

)L[DomR

$UHPXQHUDomRGRVVHUYLGRUHVVHQWLGRDPSORpIL[DGDPHGLDQWHOHLRUGLQiULDHVSHFtILFD

'HYHVHREVHUYDUDLQLFLDWLYDSULYDWLYDHPFDGDFDVRFRPR

3UHVLGHQWHGD5HS~EOLFD35

&DUJRVGDDGPLQLVWUDomRGLUHWDHDXWiUTXLFDIHGHUDO&)DUW,,D

67) 6XEVtGLRGRV 0LQLVWURVGR67)

&RQJUHVVR1DFLRQDOWHPFRPSHWrQFLD(;&/86,9$SDUDIL[DUR68%6',2 GH

L3UHVLGHQWHH9LFH3UHVLGHQWHGD5HS~EOLFDLL0LQLVWURVGH(VWDGRLLL'HSXWDGRVHVHQDGRUHV

&)DUW9,,H9,,,

&RPSHWrQFLDH[FOXVLYDGR&1

5HJXODPHQWDGRSRUGHFUHWROHJLVODWLYR1mR VHID]SRU OHL1mRVXMHLWDjVDQomRRXYHWRGR35

5HYLVmRJHUDODQXDO

eDVVHJXUDGDDRVVHUYLGRUHVS~EOLFRVQDPHVPDGDWDHVHPGLVWLQomRGHtQGLFHV2FRUUHPHGLDQWHOHLHVSHFtILFDGHLQLFLDWLYDSULYDWLYDGRFKHIHGR3RGHU([HFXWLYR1mRVHFRQIXQGHFRPSODQRVGHUHHVWUXWXUDomRGHFDUUHLUDVHVSHFtILFDV

&)DUW; FFDUW,,D

(VSpFLHVGHUHPXQHUDomR

6XEVtGLR

0RGDOLGDGHGHUHPXQHUDomRFRQIHULGDDFHUWRVFDUJRV

)L[DGDHP3$5&(/$1,&$

9HGDGRRDFUpVFLPRGHYDQWDJHQVSHFXQLiULDVFRPR JUDWLILFDomR DGLFLRQDO

DERQRSUrPLRYHUEDGH UHSUHVHQWDomRRXRXWUDHVSpFLHUHPXQHUDWyULD&)DUW3HUPLWHVHRSDJDPHQWRGHYDQWDJHQVGHFDUiWHULQGHQL]DWyULRDGLFLRQDOQRWXUQRHRXWURV

$SOLFDomR 2EULJDWyULD

$JHQWHVSROtWLFRV

&KHIHVGR3RGHU([HFXWLYR0LQLVWURVGH(VWDGR6HFUHWiULRV(VWDGXDLVH0XQLFLSDLV

0HPEURVGR

3RGHU/HJLVODWLYR3RGHU-XGLFLiULR0LQLVWpULR3~EOLFR7ULEXQDLVGH&RQWDV

,QWHJUDQWHVGD$*83URFXUDGRUHVGRV(VWDGRV')H'HIHQVRUHV3~EOLFRV

&)DUW

6HUYLGRUHVS~EOLFRVSROLFLDLV

3ROtFLDVIHGHUDOURGRYLiULDIHGHUDOFLYLOHPLOLWDUHFRUSRGHERPEHLURVPLOLWDUHV

&)DUW

)DFXOWDWLYD 6HUYLGRUHVS~EOLFRVRUJDQL]DGRVHPFDUUHLUD

9HQFLPHQWRV

7DPEpPGHQRPLQDGRVUHPXQHUDomRHPVHQWLGRHVWULWR5HWULEXLomRSHFXQLiULDSDJDSHORH[HUFtFLRGRFDUJRS~EOLFR

5HJLPHMXUtGLFRHVWDWXWiULR

&RPSRVLomR

9HQFLPHQWRV

9HQFLPHQWREiVLFRGRFDUJR

9DQWDJHQVSHFXQLiULDVSHUPDQHQWHV

,UUHGXWLELOLGDGH2YHQFLPHQWRGRFDUJRHIHWLYRDFUHVFLGRGHYDQWDJHQVSHUPDQHQWHVpLUUHGXWtYHO

6DOiULR &RQWUDSUHVWDomRSHFXQLiULDSDJDDRVHPSUHJDGRVS~EOLFRV

5HJLPHMXUtGLFRWUDEDOKLVWD&/7FRQWUDWXDO

',6326,d(6&2167,78&,21$,6,,,6,67(0$5(081(5$75,2,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

'HTXDLVTXHUHVSpFLHV UHPXQHUDWyULDVSDUDRHIHLWRGHUHPXQHUDomRGHSHVVRDOGRVHUYLoRS~EOLFR

SDUDILQVGHFRQFHVVmR GHDFUpVFLPRVXOWHULRUHV

6LVWHPD5HPXQHUDWyULR

/LPLWHV

8QLmR

6XEVtGLRGR0LQLVWURGR67)

)L[DGRSRUOHLGHLQLFLDWLYDGR67)eR7(72*(5$/SDUDWRGRVRV3RGHUHVHPWRGDVDVHVIHUDVGD)HGHUDomR

(VWDGRV H ')

3RGHU([HFXWLYR

6XEVtGLRGR*RYHUQDGRU

3RGHU/HJLVODWLYR

6XEVtGLR GRV 'HSXWDGRV(VWDGXDLV'LVWULWDLV

/LPLWDGRQRPi[LPRDGRVXEVtGLRGRVGHSXWDGRVIHGHUDLVDUWHDUW

3RGHU-XGLFLiULR

6XEVtGLRGRV 'HVHPEDUJDGRUHVGR7ULEXQDOGH-XVWLoDOLPLWDGRDGRVXEVtGLRGR0LQLVWURGR67)/LPLWHDSOLFiYHOWDPEpPDRV

,0HPEURVGR0LQLVWpULR3~EOLFR,,3URFXUDGRUHV,,,'HIHQVRUHV3~EOLFRV

)DFXOWDGRDRV(VWDGRV')IL[DUFRPROLPLWH~QLFRRVXEVtGLRGRV'HVHPEDUJDGRUHVGR7-DUW0HGLDQWHHPHQGDj&RQVWLWXLomR(VWDGXDO/HL2UJkQLFD1mRVHDSOLFDROLPLWH~QLFRDRVXEVtGLRGRV 'HSXWDGRV(VWDGXDLV'LVWULWDLV9HUHDGRUHV

0XQLFtSLRV 6XEVtGLRGR3UHIHLWR

3DUFHODVGHFDUiWHULQGHQL]DWyULRSUHYLVWDVHPOHL

1mRVmRFRPSXWDGDVQDDSOLFDomRGR WHWRDUW

6DOiULR GRVHPSUHJDGRVS~EOLFRV

$SOLFDELOLGDGHGRWHWRVRPHQWHjVHVWDWDLVTXHUHFHEHUHPUHFXUVRVGRHQWHSROtWLFRSDUDSDJDPHQWRGH

, 'HVSHVDV GHSHVVRDO28

,, &XVWHLRHPJHUDO

DUW

&)DUW;,

9LQFXODomRHHTXLSDUDomR GHUHPXQHUDo}HV

e9('$'$D 9LQFXODomRRX(TXLSDUDomR

9HGDomR

$EUDQJHDOHL

1mRDEUDQJHD&)

(TXLSDUDomRGRV0LQLVWURVGR7&8DRV0LQLVWURVGR67- DUW9LQFXODomRHQWUHRVVXEVtGLRVGRV0LQLVWURVGR67)GRV7ULEXQDLV6XSHULRUHVHGRVGHPDLVPHPEURVGDPDJLVWUDWXUD DUW9

, 9LQFXODomRGHUHPXQHUDomR

2FRUUHTXDQGRDOHLXWLOL]DtQGLFHVIyUPXODVRXFULWpULRVDXWRPiWLFRVSDUDUHDMXVWHVGHUHPXQHUDomR

,, (TXLSDUDomRGHUHPXQHUDomR

2FRUUHTXDQGRDOHLGHWHUPLQDTXHXPFDUJRWHQKDDPHVPDUHPXQHUDomRGHRXWUR

&)DUW;,,,

,QFLGrQFLDFXPXODWLYD GHDFUpVFLPRVSHFXQLiULRV

e9('$'$DLQFLGrQFLDFXPXODWLYDGHDFUpVFLPRVSHFXQLiULRV2VDFUpVFLPRVSHFXQLiULRVSHUFHELGRVSRUVHUYLGRUS~EOLFRQmRVHUmR

&RPSXWDGRVQHP

$FXPXODGRV

&)DUW;,9

',6326,d(6&2167,78&,21$,6,96,67(0$5(081(5$75,2,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

$EUDQJLGRVSHOR5HJLPH*HUDOGH3UHYLGrQFLD6RFLDO5*36

&)DUW

HPFDGDHQWHHVWDWDO

1RV WHUPRVGHILQLGRVHPOHLVFRPSOHPHQWDUHV

5336

$EUDQJrQFLD

25336DSOLFDVHDRVVHUYLGRUHVS~EOLFRVWLWXODUHVGH&$5*2()(7,92

1mRVHDSOLFDDRRFXSDQWHGH

&DUJRHPFRPLVVmR(PSUHJRS~EOLFR&DUJRWHPSRUiULR

&DUDFWHUtVWLFDV

5HJLPHFRQWULEXWLYR

7HPSRXWLOL]DGRSDUDFRQFHVVmRGHDSRVHQWDGRULD eRWHPSRGH&2175,%8,d21mRpRWHPSRGHVHUYLoR

$OHLQmRSRGHUiHVWDEHOHFHUTXDOTXHU IRUPDGHFRQWDJHPGHWHPSRGHFRQWULEXLomRILFWtFLR&)DUW

'HYHPFRQWULEXLU

, (QWHSROtWLFR,, 6HUYLGRUHVDWLYRV,,, 6HUYLGRUHVLQDWLYRV,9 3HQVLRQLVWDV

5HJLPHVROLGiULR

/HJLWLPRXDH[LJrQFLDGHFRQWULEXLomRGRV , $SRVHQWDGRVH,, 3HQVLRQLVWDV

&)DUW

&)DUW caput

3URYHQWRVGHDSRVHQWDGRULD

&iOFXOR

&DOFXODGRVDSDUWLUGDVUHPXQHUDo}HVXWLOL]DGDVFRPREDVHSDUDFRQWULEXLomRGRVHUYLGRUQDIRUPDGDOHL&)DUW

5HSUHVHQWRXRILPGD,17(*5$/,'$'(GHSURYHQWRVSDUDRVVHUYLGRUHVTXHLQJUHVVDUDPQRVHUYLoRS~EOLFRGHSRLVGD(&

$LQWHJUDOLGDGHHUDRGLUHLWRGHWHURVSURYHQWRVFDOFXODGRVFRPEDVHQDUHPXQHUDomRGRVHUYLGRUQRFDUJRHIHWLYRHPTXHVHGHXDDSRVHQWDGRULD

5HDMXVWH

eDVVHJXUDGRFRQIRUPHFULWpULRVHVWDEHOHFLGRVQDOHL &)DUW$(&VXSULPLXDUHJUDTXHDVVHJXUDYD3$5,'$'(HQWUH

RVSURYHQWRVGHDSRVHQWDGRULDHSHQVmRHDUHPXQHUDomRGRVVHUYLGRUHVDWLYRV

9HGDo}HV

$FXPXODomRGHDSRVHQWDGRULDVGR5336

eYHGDGD$SHUFHSomRGHPDLVGHXPDDSRVHQWDGRULDjFRQWDGR5336

5HVVDOYDGDV$VDSRVHQWDGRULDVGRVFDUJRVDFXPXOiYHLVQDIRUPDGD&)

&)DUW

5HJLPHV GHSUHYLGrQFLDHXQLGDGHVJHVWRUDV

eYHGDGDDH[LVWrQFLDGH

0DLVGHXP5336SDUDRVWLWXODUHVGHFDUJRVHIHWLYRV0DLVGHXPDXQLGDGHJHVWRUDGRUHVSHFWLYRUHJLPH

5HVVDOYDGR2UHJLPHGHSUHYLGrQFLDGRVPLOLWDUHVGLVFLSOLQDGRHPOHLSUySULD&)DUW;

&)DUW

5HTXLVLWRV HFULWpULRV SDUDFRQFHVVmR GHDSRVHQWDGRULDV

eYHGDGD$DGRomRGHUHTXLVLWRVHFULWpULRVGLIHUHQFLDGRVSDUDFRQFHVVmRGHDSRVHQWDGRULDVGR5336

5HVVDOYDGRVRVFDVRVGHVHUYLGRUHV

,3RUWDGRUHVGHGHILFLrQFLD,,4XHH[HUoDP

DWLYLGDGHVGHULVFR,,,4XHH[HUoDPDWLYLGDGHVVRE FRQGLo}HV HVSHFLDLV

TXHSUHMXGLTXHPDVD~GHRXDLQWHJULGDGHItVLFD

&)DUW

5(*,0(3535,2'(35(9,'1&,$'266(59,'25(63%/,&265336,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

3URYHQWRVGHWHUPLQDGRVQDIRUPDGDOHL

5336

+LSyWHVHVGHDSRVHQWDGRULD

, ,QYDOLGH]SHUPDQHQWH

3URYHQWRVSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR

([FHWRL$FLGHQWHHPVHUYLoRLL0ROpVWLDSURILVVLRQDOLLL'RHQoDJUDYHFRQWDJLRVDRXLQFXUiYHO

([FHomRGD(&

6HUYLGRUHVDSRVHQWDGRVSRULQYDOLGH]TXHWHQKDPLQJUHVVDGRQRVHUYLoRS~EOLFRDWp2VSURYHQWRVVHUmRFDOFXODGRVFRPEDVHQDUHPXQHUDomRGRFDUJRHIHWLYRHPTXHVHGHUDDSRVHQWDGRULDDVVHJXUDGDDSDULGDGHGHUHDMXVWHFRPRVDWLYRV

,, &RPSXOVyULDDQRVGHLGDGH3URYHQWRVSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR

,,,, 9ROXQWiULD

7HPSRPtQLPR DQRVGHHIHWLYRH[HUFtFLRQRVHUYLoRS~EOLFR(DQRVQRFDUJRHIHWLYRHPTXHVHGDUiDDSRVHQWDGRULD

&DVRV

D3URYHQWRVQmRSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR

3URYHQWRVFDOFXODGRVDSDUWLUGDVUHPXQHUDo}HVXWLOL]DGDVFRPREDVHSDUDDVFRQWULEXLo}HVGRVHUYLGRU

+RPHP,GDGHPtQLPD DQRV

7HPSRGHFRQWULEXLomR DQRV

0XOKHU,GDGHPtQLPD DQRV

7HPSRGHFRQWULEXLomR DQRV

3URIHVVRUH[FOXVLYRGDHGXFDomRLQIDQWLOHGRHQVLQRIXQGDPHQWDOHPpGLR

7HPSRGHFRQWULEXLomRHLGDGHUHGX]LGRVHPDQRV1mRYDOHSDUD SURIHVVRUHVXQLYHUVLWiULRV

E 3URYHQWRVSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR

+RPHP ,GDGHPtQLPD DQRV

0XOKHU ,GDGHPtQLPD DQRV

&)DUW

$ERQRGHSHUPDQrQFLD

%HQHItFLRFRQFHGLGRDRVHUYLGRUTXHSHUPDQHFHWUDEDOKDQGRDSyVWHUFXPSULGRRVUHTXLVLWRVSDUDDDSRVHQWDGRULDYROXQWiULDQmRSURSRUFLRQDODRWHPSRGHFRQWULEXLomR6HUYLGRUILFDGLVSHQVDGRGRSDJDPHQWRGDFRQWULEXLomRSUHYLGHQFLiULDDWpFRPSOHWDUDVH[LJrQFLDVSDUDDDSRVHQWDGRULDFRPSXOVyULD

&)DUW

5HJLPHGHSUHYLGrQFLDFRPSOHPHQWDU

)LQDOLGDGH

2VHQWHVSROtWLFRVSRGHPDSyVDLQVWLWXLomRGHUHJLPHGHSUHYLGrQFLDFRPSOHPHQWDUIL[DUSDUDDVDSRVHQWDGRULDVHSHQV}HVGR5336ROLPLWHPi[LPRGR5HJLPH*HUDOGH3UHYLGrQFLD6RFLDO5*36

,QVWLWXLomR

2FRUUHUiSRUOHLGHLQLFLDWLYDGR3RGHU([HFXWLYRGRUHVSHFWLYRHQWHSROtWLFR0HGLDQWHHQWLGDGHVIHFKDGDVGHSUHYLGrQFLDFRPSOHPHQWDUGHQDWXUH]DS~EOLFD

2SomR

6HUYLGRUTXHWLYHULQJUHVVDGRQRVHUYLoRS~EOLFRDWpDGDWDGDSXEOLFDomRGRDWRGHLQVWLWXLomRGRFRUUHVSRQGHQWHUHJLPHGHSUHYLGrQFLDFRPSOHPHQWDU 3RGHUiRSWDU

&)DUW

&)DUW

5(*,0(3535,2'(35(9,'1&,$'266(59,'25(63%/,&265336,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

O contedo deste curso de uso exclusivo de Genival Bispo dos Santos34871888487, vedada, por quaisquer meios e a qualquer ttulo, a suareproduo, cpia, divulgao e distribuio, sujeitando-se os infratores responsabilizao civil e criminal.

'HFODUDGRVLQFRQVWLWXFLRQDLV

,QLFLDVHDFRQWDJHPDSDUWLUGRWpUPLQRGRLPSHGLPHQWR

3URYLPHQWRH3RVVH

3URYLPHQWR

&RQFHLWR

$WRDGPLQLVWUDWLYRXQLODWHUDOSHORTXDOVHSUHHQFKHRFDUJRYDJR

3RGHVHU

, 2ULJLQiULR

eRTXHYLQFXODLQLFLDOPHQWHRVHUYLGRUDRFDUJR1mRGHFRUUHGHYtQFXORDQWHULRUHQWUHRVHUYLGRUHD$GPLQLVWUDomR3~EOLFD

,, 'HULYDGR

eRTXHGHSHQGHGHXPYtQFXORDQWHULRUGRVHUYLGRUFRPD$GPLQLVWUDomR3~EOLFD

9HGDGRV$FHVVRRXDVFHQVmR7UDQVIHUrQFLD

)RUPDV

, 3URYLPHQWRRULJLQiULR 2FRUUHPHGLDQWH 1RPHDomR

,, 3URYLPHQWRGHULYDGR

L 9HUWLFDO3DVVDDRFXSDUFDUJRPDLVHOHYDGR2FRUUHSRU 3URPRomR

LL +RUL]RQWDO1mRDVFHQGHQHPpUHEDL[DGR2FRUUHSRU 5HDGDSWDomR

LLL 3RUUHLQJUHVVR

5HWRUQDDRVHUYLoRDWLYRGRTXDOHVWDYDGHVOLJDGR

2FRUUHSRU

5HYHUVmR$SURYHLWDPHQWR5HLQWHJUDomR5HFRQGXomR

&$%DQGHLUDGH0HOOR

9HU0DSDV0HQWDLV)RUPDVGH3URYLPHQWR,,,H,,,

3RVVH

&RQFHLWR

$WRELODWHUDOHQWUHRDSURYDGRHPFRQFXUVRS~EOLFRHD$GPLQLVWUDomR3~EOLFD&RPDSRVVHRFRUUHD,19(67,'85$QDTXDORQRPHDGRDFHLWDH[SUHVVDPHQWHDVDWULEXLo}HVRVGHYHUHVHDVUHVSRQVDELOLGDGHVLQHUHQWHVDRFDUJR6RPHQWHRFRUUHQRVFDVRVGHSURYLPHQWRGHFDUJRSRUQRPHDomR DUW

3UD]R

GLDV FRQWDGRVGDSXEOLFDomRGRDWRGHSURYLPHQWR

6DOYRQRVFDVRVGHVHUYLGRUHP

/LFHQoDH$IDVWDPHQWR

,QREVHUYkQFLDGRSUD]R 6HUiWRUQDGR6(0 ()(,72RDWRGHSURYLPHQWR

$UW

5HTXLVLWRVEiVLFRVSDUDLQYHVWLGXUD

,1DFLRQDOLGDGHEUDVLOHLUD$VXQLYHUVLGDGHVHLQVWLWXLo}HVGHSHVTXLVDFLHQWtILFDHWHFQROyJLFDIHGHUDLVSRGHUmRSURYHUVHXVFDUJRVFRPSURIHVVRUHVWpFQLFRVHFLHQWLVWDVHVWUDQJHLURVDUW

,,*R]RGRVGLUHLWRVSROtWLFRV,,,4XLWDomRGDVREULJDo}HVPLOLWDUHVHHOHLWRUDLV,9(VFRODULGDGHH[LJLGDSDUDRFDUJR9,GDGHPtQLPDGHDQRV9,$SWLGmRItVLFDHPHQWDO

$UW

3529,0(172(3266(7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

([HUFtFLRH(VWiJLR

3UREDWyULR

([HUFtFLR

&RQFHLWReR HIHWLYRGHVHPSHQKRGDVDWULEXLo}HVGRFDUJRRXGDIXQomR

3UD]RSDUDHQWUDUHPH[HUFtFLR

&DUJR

GLDV FRQWDGRVGDGDWDGDSRVVH

,QREVHUYkQFLDGRSUD]R

6HUYLGRUVHUi(;21(5$'2

)XQomRGHFRQILDQoD

&RLQFLGHFRPDGDWDGHSXEOLFDomRGRDWRGHGHVLJQDomR

6DOYRVHHVWLYHUHPOLFHQoDRXDIDVWDGR

2FRUUHUiQRGLD~WLODSyVRWpUPLQRGRLPSHGLPHQWRTXHQmRSRGHUiH[FHGHUDGLDVGD SXEOLFDomR

,QREVHUYkQFLDGRSUD]R

6HUiWRUQDGR6(0()(,72RDWRGHGHVLJQDomR

$UW

(VWiJLR3UREDWyULR

&RQFHLWR

3HUtRGRGHHIHWLYRH[HUFtFLRHPTXHVHDYDOLDDDSWLGmRGRVHUYLGRUSDUDRGHVHPSHQKRGRFDUJRHIHWLYR$SXUDVHDFRQYHQLrQFLDRXQmRGDSHUPDQrQFLDGRVHUYLGRUQRFDUJRHIHWLYRVHJXQGRFULWpULRVHVWDEHOHFLGRVQDOHL

2HVWiJLRSUREDWyULRILFDUiVXVSHQVRGXUDQWHDVOLFHQoDVHRVDIDVWDPHQWRVFLWDGRVQDOHLHQRFDVRGHSDUWLFLSDomRHPFXUVRGHIRUPDomRDUW

3UD]R DQRV

&ULWpULRV5$3,'

, 5HVSRQVDELOLGDGH,, $VVLGXLGDGH,,, 3URGXWLYLGDGH,9&DSDFLGDGHGH ,QLFLDWLYD9 'LVFLSOLQD

,QDELOLWDomRHPHVWiJLRSUREDWyULR

6HUYLGRUMiHUD HVWiYHO 5HFRQGXomR

6HUYLGRUQmRHUDHVWiYHO([RQHUDomR$SHVDUGHQmRSRVVXLUFDUiWHUSXQLWLYRDLQDELOLWDomRHPHVWiJLRSUREDWyULRGHYHREVHUYDURGHYLGRSURFHVVROHJDODVVHJXUDGRVRFRQWUDGLWyULRHDDPSODGHIHVD$UW

$UW

(;(5&&,2((67*,2352%$75,27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

1mRSRGHDFDUUHWDUDVFHQVmRIXQFLRQDO

)RUPDVGH3URYLPHQWR

1RPHDomR

)RUPDGHSURYLPHQWRRULJLQiULR

2FRUUHHP, &DUJRHIHWLYR ([LJHFRQFXUVRS~EOLFR

,, &DUJRHPFRPLVVmR 1mRH[LJH FRQFXUVRS~EOLFR

'LUHLWRjQRPHDomR

5HJUD&DQGLGDWRDSURYDGRGHQWURGRQ~PHURGHYDJDVGRHGLWDOWHPGLUHLWRVXEMHWLYRjQRPHDomR

([FHomR

(PVLWXDo}HVH[FHSFLRQDOtVVLPDVSRGHD$GPLQLVWUDomRQmRQRPHDU

5HTXLVLWRV

0RWLYDomR

6XSHUYHQLrQFLD

)DWRHQVHMDGRUGHYHVHUSRVWHULRUjSXEOLFDomRGRHGLWDO

,PSUHYLVLELOLGDGH&LUFXQVWkQFLDVGHYHPVHULPSUHYLVtYHLV

*UDYLGDGH&LUFXQVWkQFLDVGHYHPVHUJUDYHV

1HFHVVLGDGH

2GHVFXPSULPHQWRGRGHYHUGHQRPHDUGHYHVHUQHFHVViULR1mRH[LVWLQGRRXWURVPHLRVPHQRVJUDYRVRV

67)5(06

3URPRomR

)RUPDGHSURYLPHQWRGHULYDGR)RUPDGHYDFkQFLDGRFDUJRDQWHULRU2FRUUHHP &DUJRHIHWLYRRUJDQL]DGRHP&$55(,5$

2EV

$SURPRomRpIRUPDGHSURYLPHQWRGHULYDGRGHQWURGHXPDPHVPDFDUUHLUD1mRSRGHUHVXOWDUQDPXGDQoDGHFDUJRGHXPDFDUUHLUDSDUDFDUJRGHRXWUDFDUUHLUD

$SURPRomRQmRLQWHUURPSH RWHPSRGHH[HUFtFLR

eFRQWDGRQRQRYRSRVLFLRQDPHQWRQDFDUUHLUDDSDUWLUGDGDWDGHSXEOLFDomRGRDWRTXHSURPRYHURVHUYLGRUDUW

5HDGDSWDomR

)RUPDGHSURYLPHQWRGHULYDGR,QYHVWLGXUDGRVHUYLGRUHPFDUJRGHDWULEXLo}HVFRPSDWtYHLVFRPD/,0,7$d2TXHWHQKDVRIULGRHPVXDFDSDFLGDGHItVLFDRXPHQWDO9HULILFDGDHPLQVSHomRPpGLFD

6HUiHIHWLYDGDHPFDUJRGHDWULEXLo}HVDILQVUHVSHLWDGRV

+DELOLWDomRH[LJLGD1tYHOGHHVFRODULGDGH(TXLYDOrQFLDGHYHQFLPHQWRV

&DVRQmRKDMDFDUJRYDJRRVHUYLGRUILFDUiFRPR(;&('(17(

$UW

)250$6'(3529,0(172,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

)RUPDVGH3URYLPHQWR

5HYHUVmR

)RUPDGHSURYLPHQWRGHULYDGR5HWRUQRjDWLYLGDGHGR$326(17$'2

0RGDOLGDGHV

, 5HYHUVmRGHRItFLR 3RULQYDOLGH]

-XQWDPpGLFDRILFLDOGHFODUDLQVXEVLVWHQWHVRVPRWLYRVGDDSRVHQWDGRULD

(QFRQWUDQGRVHSURYLGRRFDUJRRVHUYLGRUILFDUiFRPR(;&('(17(

$WRYLQFXODGR

,, 5HYHUVmRDSHGLGR

1RLQWHUHVVHGD$GPLQLVWUDomR3~EOLFD

$WRGLVFULFLRQiULR

/HLDUWV H

5HTXLVLWRV

L7HQKDVROLFLWDGRDUHYHUVmRLL$DSRVHQWDGRULD WHQKDVLGRYROXQWiULD1mRSRGHUHYHUWHURDSRVHQWDGRTXHWLYHUFRPSOHWDGRDQRV

LLL (679(/TXDQGRQDDWLYLGDGH

LY $SRVHQWDGRULDRFRUULGDQRVDQRVDQWHULRUHVjVROLFLWDomR

Y+DMDFDUJRYDJR

$SURYHLWDPHQWR

)RUPDGHSURYLPHQWRGHULYDGR5HWRUQRjDWLYLGDGHGRVHUYLGRUHP',6321,%,/,'$'((QTXDQWRHPGLVSRQLELOLGDGHpUHPXQHUDGRSURSRUFLRQDOPHQWH

$RWHPSRGHVHUYLoR1mRDRWHPSRGH

FRQWULEXLomR

6HRVHUYLGRUQmRHQWUDUHP H[HUFtFLRGHQWURGRSUD]ROHJDO

6HUiWRUQDGRVHP HIHLWRRDSURYHLWDPHQWRHFDVVDGDDGLVSRQLELOLGDGH

([FHomR'RHQoDFRPSURYDGDSRUMXQWDPpGLFDRILFLDO

([FOXVLYRSDUDVHUYLGRU(679(/

&)DUW H/HLDUWV D

)250$6'(3529,0(172,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

)RUPDVGH3URYLPHQWR

5HLQWHJUDomR

)RUPDGHSURYLPHQWRGHULYDGR5HWRUQRjDWLYLGDGHGRLOHJDOPHQWH'(0,7,'2

,QYDOLGDGDDGHPLVVmRSRUGHFLVmR

$GPLQLVWUDWLYD-XGLFLDO

&RPUHVVDUFLPHQWRGHWRGRVRVSUHMXt]RVVRIULGRV

6HH[WLQWRRFDUJR

2VHUYLGRUVHUiDSURYHLWDGRHPRXWURFDUJR28)LFDUiHPGLVSRQLELOLGDGHFRPUHPXQHUDomRSURSRUFLRQDODRWHPSRGHVHUYLoR

6HRFDUJRHQFRQWUDUVHSURYLGR

(YHQWXDORFXSDQWH

6HHVWiYHOSRGHUiVHU

, 5HFRQGX]LGRDRFDUJRGHRULJHP6HPGLUHLWRjLQGHQL]DomR

,, $SURYHLWDGRHPRXWURFDUJR

,,,3RVWRHPGLVSRQLELOLGDGH

&RPUHPXQHUDomRSURSRUFLRQDODRWHPSRGHVHUYLoR

6HQmRIRUHVWiYHO

6HUiH[RQHUDGR0$OH[DQGULQRH93DXOR

3UHYDOrQFLDGRVHUYLGRUUHLQWHJUDGR


&)DUW H/HLDUW

5HFRQGXomR

)RUPDGHSURYLPHQWRGHULYDGR

&DVRV

, (VWiJLRSUREDWyULRUHODWLYRDRXWURFDUJR

,QDELOLWDomR5HFRQGXomRDSHGLGRGHVLVWrQFLD67)H6~PXOD$*8

6RPHQWHGXUDQWHRSHUtRGRGRHVWiJLRSUREDWyULR

,, 5HLQWHJUDomRGRDQWHULRURFXSDQWH &)DUW

6HRFDUJRGHRULJHPHQFRQWUDUVHSURYLGR

2VHUYLGRUVHUiDSURYHLWDGRHPRXWURFDUJRGHDWULEXLo}HVHYHQFLPHQWRVFRPSDWtYHLV /HLDUWS~QLFRHDUW

3UHYDOrQFLDGRVHUYLGRURFXSDQWH


/HLDUW

)250$6'(3529,0(172,,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

9DFkQFLD

&RQFHLWR

eRDWRDGPLQLVWUDWLYRSHORTXDORVHUYLGRUpGHVWLWXtGRGRFDUJR2FRUUHURPSLPHQWRGHILQLWLYRGRYtQFXORMXUtGLFRHQWUHRVHUYLGRUHD$GPLQLVWUDomRQRVVHJXLQWHVFDVRV

, ([RQHUDomR,, 'HPLVVmR,,, )DOHFLPHQWR

)RUPDV

, ([RQHUDomR

eIRUPDGHYDFkQFLDGHFDUJRS~EOLFRHPTXHKiDGHVYLQFXODomRGRVHUYLGRUGRTXDGURGHSHVVRDOGRVHUYLoRS~EOLFR

1mRpIRUPDGHVDQomRGRVHUYLGRU

+LSyWHVHVSUHYLVWDVQDOHL

&DUJRHIHWLYR L 'HRItFLR

7RPDSRVVHHQmRHQWUDHPH[HUFtFLRQRSUD]ROHJDO,QDELOLWDomRHPHVWiJLRSUREDWyULRVHQmRHVWiYHO

LL $SHGLGR

&DUJRHPFRPLVVmR

L 'HRItFLR$MXt]RGDDXWRULGDGHFRPSHWHQWH([RQHUDomRDGQXWXP

LL $SHGLGR

/HLDUWVH

+LSyWHVHVFLWDGDVQDGRXWULQD

&DUJRRFXSDGRSRUVHUYLGRUQmRHVWiYHOTXDQGRKRXYHU

([WLQomRGRFDUJR5HLQWHJUDomRGRDQWHULRURFXSDQWH

,QVXILFLrQFLDGHGHVHPSHQKR&)DUW,,,

9HULILFDGDHPSURFHGLPHQWRGHDYDOLDomRSHULyGLFDGHGHVHPSHQKR

QDIRUPDGDOHLFRPSOHPHQWDUDVVHJXUDGDDDPSODGHIHVD

([FHVVRGHGHVSHVDFRPSHVVRDO &)DUW

,, 'HPLVVmReSHQDOLGDGHGLVFLSOLQDUGHFRUUHQWHGDSUiWLFDGHLOtFLWRDGPLQLVWUDWLYR/HLDUW

eIRUPDGHVDQomRGRVHUYLGRU

,,, )DOHFLPHQWR,9 3URPRomR9 5HDGDSWDomR

9, $SRVHQWDGRULD3DVVDJHPGRVHUYLGRUGDDWLYLGDGHSDUDDLQDWLYLGDGHVHJXQGRUHJUDVSUySULDV

9,, 3RVVHHPRXWURFDUJRLQDFXPXOiYHO

2FRUUHPDRPHVPRWHPSRYDFkQFLDHSURYLPHQWRGHFDUJR

, 3URPRomR,, 5HDGDSWDomR,,, 3RVVHHPRXWURFDUJRLQDFXPXOiYHO

,9 5HFRQGXomR

$OHLQmRLQFOXLQRUROGHYDFkQFLDVDUHFRQGXomRGHFRUUHQWHGHLQDELOLWDomRRXGHVLVWrQFLDGHHVWiJLRSUREDWyULRUHODWLYRDRXWURFDUJR&RQWXGRQHVVHFDVRKiSURYLPHQWRGHXPFDUJRHDRPHVPRWHPSRRRXWURILFDYDJR

9$&1&,$7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

&RQGLFLRQDGDjFRPSURYDomRSRUMXQWDPpGLFDRILFLDO

2VHUYLGRUSHUPDQHFHQRPHVPRFDUJR

2FRUUHGHVORFDPHQWRGRFDUJR

5HPRomR5HGLVWULEXLomR6XEVWLWXLomR

5HPRomR

eRGHVORFDPHQWRGR6(59,'25SDUDH[HUFHUVXDVDWULEXLo}HVHPRXWUDXQLGDGHGRPHVPRTXDGURGHSHVVRDOFRPRXVHPPXGDQoDGHVHGH

)RUPDV

, $SHGLGRL$FULWpULRGD$GPLQLVWUDomR $WRGLVFULFLRQiULRLL ,QGHSHQGHQWHPHQWH GRLQWHUHVVHGD$GPLQLVWUDomR $WRYLQFXODGR

&DVRV

3DUDDFRPSDQKDUF{QMXJHFRPSDQKHLUR

WDPEpPVHUYLGRUS~EOLFRFLYLORXPLOLWDUGHTXDOTXHUGRV3RGHUHVGRVHQWHVSROtWLFRVTXHIRLGHVORFDGRQRLQWHUHVVHGD$GPLQLVWUDomR

3RUPRWLYRGHVD~GH

'RVHUYLGRU'RF{QMXJHFRPSDQKHLUR'RGHSHQGHQWH'HYHYLYHUjVVXDVH[SHQVDVHFRQVWDUGRVHXDVVHQWDPHQWRIXQFLRQDO

3RUSURFHVVRVHOHWLYR

4XDQGRRQ~PHURGHLQWHUHVVDGRVIRUVXSHULRUDRQ~PHURGHYDJDV

2FRQFXUVRGHUHPRomRREHGHFHUiDUHJUDVSUySULDVHVWDEHOHFLGDVSHOD$GPLQLVWUDomR

,, 'HRItFLR 1RLQWHUHVVHGD$GPLQLVWUDomR $WRGLVFULFLRQiULR

1mRpIRUPDGH3URYLPHQWR9DFkQFLD

$UW

5HGLVWULEXLomR

eRGHVORFDPHQWRGR&$5*2GHSURYLPHQWRHIHWLYR RFXSDGRRXYDJRQRkPELWRGRTXDGURJHUDOGHSHVVRDOSDUDRXWURyUJmRRXHQWLGDGHGRPHVPR3RGHU

6RPHQWHRFRUUHGHRItFLR

$UHGLVWULEXLomRGHYHVHUSUHYLDPHQWHDSUHFLDGDSHORyUJmRFHQWUDOGR6LSHF

2EVHUYDGRVRVVHJXLQWHVSUHFHLWRV

,,QWHUHVVHGD$GPLQLVWUDomR $WRGLVFULFLRQiULR,,(TXLYDOrQFLDGHYHQFLPHQWRV,,,0DQXWHQomRGDHVVrQFLDGDVDWULEXLo}HVGRFDUJR,99LQFXODomRHQWUHRVJUDXVGHUHVSRQVDELOLGDGH

HFRPSOH[LGDGHGDVDWLYLGDGHV90HVPRQtYHOGHHVFRODULGDGHHVSHFLDOLGDGH

RXKDELOLWDomRSURILVVLRQDO9,&RPSDWLELOLGDGHHQWUHDVDWULEXLo}HVGRFDUJRH

DVILQDOLGDGHVLQVWLWXFLRQDLVGRyUJmRRXHQWLGDGH

1mRpIRUPDGH3URYLPHQWR9DFkQFLD

$UW

6XEVWLWXLomR

$VXEVWLWXLomRpRLQVWUXPHQWRSUHYLVWRQDOHLSDUDSURYHULQWHULQDPHQWHDVIXQo}HVGHGLUHomRFKHILDHDVVHVVRUDPHQWRTXDQGRRWLWXODUHQFRQWUDUVHDIDVWDGRRXLPSHGLGRGHVXDVDWULEXLo}HV

7HUmRVXEVWLWXWRV

,2VVHUYLGRUHVLQYHVWLGRVHPFDUJRIXQomRGHGLUHomRRXFKHILD,,2VRFXSDQWHVGHFDUJRGHQDWXUH]DHVSHFLDO,,,2VWLWXODUHV GH XQLGDGHVDGPLQLVWUDWLYDV

RUJDQL]DGDVHPQtYHOGHDVVHVVRULD

0RGDOLGDGHVGHVXEVWLWXLomR

, $XWRPiWLFD2VVXEVWLWXWRVVmRLQGLFDGRVQRUHJLPHQWRLQWHUQR

,3RUGHVLJQDomR

2VVXEVWLWXWRVVmRSUHYLDPHQWHGHVLJQDGRVSHORGLULJHQWHPi[LPRGRyUJmRRXHQWLGDGH2FRUUHQRVFDVRVGHRPLVVmRGRUHJLPHQWRLQWHUQR

$UWVH

5(02d25(',675,%8,d268%67,78,d27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

$UW

9HQFLPHQWRH5HPXQHUDomR

9HQFLPHQWReDUHWULEXLomRSHFXQLiULDSHORH[HUFtFLRGHFDUJRS~EOLFRFRPYDORUIL[DGRHPOHLDUW &RUUHVSRQGHDRSDGUmRGRFDUJRS~EOLFRIL[DGRHPOHL+HO\/RSHV eDSDUFHODEiVLFDYHQFLPHQWREiVLFRSUHYLVWDHPOHLFRPRHVWLSrQGLRFRUUHVSRQGHQWHDFDGDFDUJRS~EOLFR0$OH[DQGULQR H 93DXOR

5HPXQHUDomR

&RQFHLWR

eRYHQFLPHQWRGRFDUJRHIHWLYRDFUHVFLGRGDVYDQWDJHQVSHFXQLiULDVSHUPDQHQWHVHVWDEHOHFLGDVHPOHL$UHPXQHUDomRHPVHQWLGRHVWULWRWDPEpPpGHQRPLQDGD9(1&,0(1726

3URYHQWR eDSUHVWDomRSHFXQLiULDUHFHELGDSHORVHUYLGRULQDWLYR$UW

&RPSRVLomR

5HPXQHUDomR

9HQFLPHQWRGRFDUJRHIHWLYR


,UUHGXWLELOLGDGH

2YHQFLPHQWRGRFDUJRHIHWLYRDFUHVFLGRGHYDQWDJHQVSHUPDQHQWHVpLUUHGXWtYHO


6mRDTXHODVUHODFLRQDGDVDRH[HUFtFLRRUGLQiULRGDVDWULEXLo}HVGRFDUJR0$OH[DQGULQRH93DXOR

$LUUHGXWLELOLGDGHQmRDEUDQJHYDQWDJHQVWUDQVLWyULDV$UW

'HVFRQWRV

5HJUDJHUDO1HQKXP GHVFRQWRLQFLGLUiVREUHDUHPXQHUDomRRXSURYHQWR

([FHWRQRVFDVRVGH

,,PSRVLomROHJDO,,0DQGDGRMXGLFLDO,,,&RQVLJQDomRHPIROKDGHSDJDPHQWR

DIDYRUGHWHUFHLURV$FULWpULRGD$GPLQLVWUDomRHFRPUHSRVLomRGHFXVWRVQDIRUPDGHILQLGDHPUHJXODPHQWR

DXWRUL]DGDSHORVHUYLGRU

$UW

9HGDo}HV

1HQKXPVHUYLGRU UHFHEHUi UHPXQHUDomRLQIHULRUDRVDOiULRPtQLPR DUW

1mRVHUmRREMHWRGHDUUHVWRVHTXHVWURRXSHQKRUD

2YHQFLPHQWR$UHPXQHUDomR2SURYHQWR

([FHWR1RVFDVRVGHSUHVWDomRGHDOLPHQWRVUHVXOWDQWHGHGHFLVmRMXGLFLDO

5HSRVLo}HVHLQGHQL]Do}HVDR(UiULR

6HUmRSUHYLDPHQWHFRPXQLFDGDVDRVHUYLGRUDWLYRDSRVHQWDGRRXDRSHQVLRQLVWD

SDUDSDJDPHQWRQRSUD]RPi[LPRGHGLDV

3DUFHODPHQWR5HJUDJHUDO

2VYDORUHVSRGHPVHUSDUFHODGRVDSHGLGRGRLQWHUHVVDGR

9DORUGDSDUFHOD

1mRSRGHUiVHULQIHULRUDGDUHPXQHUDomRGRSURYHQWRRXGDSHQVmR

([FHomR

$UHSRVLomRVHUiIHLWDLPHGLDWDPHQWHHPSDUFHOD1,&$

(PFDVRGHSDJDPHQWRLQGHYLGRQRPrVDQWHULRUDRGRSURFHVVDPHQWRGDIROKD

2VHUYLGRUHPGpELWRFRPR(UiULRTXHIRUGHPLWLGRH[RQHUDGRRXTXHWLYHUVXDDSRVHQWDGRULDRXGLVSRQLELOLGDGHFDVVDGD

7HUiRSUD]RGHGLDVSDUDTXLWDU RGpELWR,QREVHUYkQFLDGRSUD]R

,QVFULomRHPGtYLGDDWLYD

$UW

',5(,726(9$17$*(169(1&,0(172(5(081(5$d27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

,QFRUSRUDPVHDRYHQFLPHQWRSURYHQWRQRVFDVRVHFRQGLo}HVLQGLFDGRVHPOHL/HLDUW

SDUDILQVGHFRQFHVVmRGHDFUpVFLPRVSHFXQLiULRVXOWHULRUHV/HLDUW H &)DUW;,9

9DQWDJHQV

&RQFHLWR6mRDFUpVFLPRVUHFHELGRVSHORVHUYLGRUTXHQmRVHHQTXDGUDPHPYHQFLPHQWR3RGHPVHUFRQFHGLGDVDWtWXOR 'HILQLWLYR7UDQVLWyULR ([,QGHQL]Do}HV

(VSpFLHV

, ,QGHQL]Do}HV

&RQFHLWR

6mRYDORUHVGHYLGRVDRVHUYLGRUSDUDUHHPEROVRGHGHVSHVDV3RUWHUHPQDWXUH]DGHUHHPEROVRQmRVHLQFRUSRUDPDRYHQFLPHQWRRXSURYHQWRSDUDTXDOTXHUHIHLWR

1mRLQWHJUDPDUHPXQHUDomR HPVHQWLGRHVWULWR

1mRLQWHJUDP

9HQFLPHQWRV9DQWDJHQVSHFXQLiULDVSHUPDQHQWHV

1mRVmRFRPSXWDGDVSDUDILQVGHDSOLFDomRGRWHWRFRQVWLWXFLRQDO &)DUW

(VSpFLHV

$MXGDGHFXVWR

,QGHQL]DomRGHWUDQVSRUWH

'LiULDV $X[tOLRPRUDGLD

,, *UDWLILFDo}HVL5HWULEXLo}HVLL*UDWLILFDomRQDWDOLQDLLL*UDWLILFDomRSRUHQFDUJRGHFXUVRRXFRQFXUVR

,,, $GLFLRQDLV

L3HORH[HUFtFLRGHDWLYLGDGHVLL3HODSUHVWDomRGHVHUYLoRH[WUDRUGLQiULRLLL1RWXUQRLY'HIpULDV

2DGLFLRQDOSRUWHPSRGHVHUYLoRIRLUHYRJDGR039HU0DSDV0HQWDLVGH,QGHQL]Do}HV*UDWLILFDo}HVH$GLFLRQDLV

,QFRUSRUDomRjUHPXQHUDomR

$VYDQWDJHQVSRGHPRXQmRLQWHJUDUDUHPXQHUDomRGRVHUYLGRU

,QWHJUDPDUHPXQHUDomR

9DQWDJHQVSHFXQLiULDVSHUPDQHQWHVHVWDEHOHFLGDVHPOHL/HLDUW

1mRLQWHJUDPDUHPXQHUDomR ,QGHQL]Do}HV

3RGHPRXQmRLQWHJUDUDUHPXQHUDomR

$GLFLRQDLV*UDWLILFDo}HV

9HGDomRDRHIHLWRFDVFDWD

$VYDQWDJHQVSHFXQLiULDVQmRVHUmR

FRPSXWDGDVQHP

DFXPXODGDV

9DQWDJHPSHFXQLiULD

6RPHQWHGHYHLQFLGLUVREUHRYHQFLPHQWREiVLFR1mRSRGHLQFLGLUVREUHRXWUDYDQWDJHP (IHLWRFDVFDWDRXUHSLTXH

9$17$*(1612d(6,1752'875,$67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

,QGHQL]Do}HV

$MXGDGHFXVWR

&RQFHLWR

eYHUEDGHFXVWHLRGHVWLQDGDDFRPSHQVDUGHVSHVDVGHLQVWDODomRGRVHUYLGRUTXH

1R LQWHUHVVHGRVHUYLoRSDVVDUDWHUH[HUFtFLRHPQRYDVHGH&RPPXGDQoDGHGRPLFtOLRHPFDUiWHU3(50$1(17(

6HUiFRQFHGLGDWDPEpPDQmRVHUYLGRUGD8QLmR

1RPHDGRSDUDFDUJRHPFRPLVVmR&RPPXGDQoDGHGRPLFtOLR

'HVSHVDVGHLQVWDODomR

6mRGHVSHVDVGHWUDQVSRUWHGRVHUYLGRUHIDPtOLD

3DVVDJHP%DJDJHP%HQVSHVVRDLV

1mRVHUiFRQFHGLGD

&{QMXJHFRPSDQKHLURWDPEpPVHUYLGRU

$RF{QMXJHFRPSDQKHLURWDPEpPVHUYLGRUTXHYLHUDWHUH[HUFtFLRQDPHVPDVHGH

9HGDGRRGXSORSDJDPHQWRGHLQGHQL]DomRDTXDOTXHUWHPSR

0DQGDWRHOHWLYR

$RVHUYLGRUTXHVHDIDVWDUGRFDUJR RXUHDVVXPLORHPYLUWXGHGHPDQGDWRHOHWLYR

9DORU

&DOFXODGRVREUHDUHPXQHUDomRGRVHUYLGRUFRQIRUPHUHJXODPHQWR

/LPLWH1mRSRGHH[FHGHUDPHVHVGDUHPXQHUDomR

)DOHFLPHQWRGHVHUYLGRUQDQRYDVHGH

6mRDVVHJXUDGRVjIDPtOLDDDMXGDGHFXVWRHWUDQVSRUWHSDUDDORFDOLGDGHGHRULJHPGHQWURGRSUD]RGHDQR FRQWDGRGRyELWR

5HVWLWXLomR

6HUYLGRUpREULJDGRDUHVWLWXLUDDMXGDGHFXVWRTXDQGR,1-867,),&$'$0(17(QmRVHDSUHVHQWDUQDQRYDVHGHHPGLDV

$UWVD

,QGHQL]DomRGHWUDQVSRUWH

eGHVWLQDGDDRFXVWHLRGHGHVSHVDVGHWUDQVSRUWHTXHHQYROYD

$XWLOL]DomRGHPHLRSUySULRGHORFRPRomR3DUDH[HFXomRGHVHUYLoRVH[WHUQRVLQHUHQWHVjVDWULEXLo}HVSUySULDVGRFDUJR

$UW

9$17$*(16,1'(1,=$d(6,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

,QGHQL]Do}HV

'LiULDV

&RQFHLWR

eDLQGHQL]DomRFRQFHGLGDDRVHUYLGRUDVHUYLoRTXH

VHDIDVWDUGDVHGHHPFDUiWHU(9(178$/RX75$16,75,2SDUD

,2XWURSRQWRGRWHUULWyULRQDFLRQDO

,,2H[WHULRU

9LVDLQGHQL]DUGHVSHVDVH[WUDRUGLQiULDVFRP

,3RXVDGD,,$OLPHQWDomR,,,/RFRPRomRXUEDQD

9DORU

6HUiFRQFHGLGDSRUGLDGHDIDVWDPHQWRFRQIRUPHUHJXODPHQWR

0HLDGLiULD

6HUiGHYLGDSHODPHWDGHTXDQGR

1mRKRXYHUSHUQRLWHIRUDGDVHGH28$8QLmRFXVWHDUSRUPHLRGLYHUVRDVGHVSHVDVH[WUDRUGLQiULDVFREHUWDVSRUGLiULDV

1mRUHFHEHGLiULD

,4XDQGRRGHVORFDPHQWRGDVHGHFRQVWLWXLUH[LJrQFLD3(50$1(17(GRFDUJR$VGLiULDVDSOLFDPVHDRVFDVRVGHGHVORFDPHQWR(9(178$/

,,4XDQGRRVHUYLGRU VHGHVORFDU

L'HQWURGDPHVPDUHJLmRPHWURSROLWDQDDJORPHUDomRXUEDQDRXPLFURUUHJLmRFRQVWLWXtGDVSRUPXQLFtSLRVOLPtWURIHVHUHJXODUPHQWHLQVWLWXtGDV

LL(PiUHDVGHFRQWUROHLQWHJUDGRPDQWLGDVFRPSDtVHVOLPtWURIHVFXMDMXULVGLomRHFRPSHWrQFLDGRVyUJmRVHQWLGDGHVHVHUYLGRUHVEUDVLOHLURVFRQVLGHUDVHHVWHQGLGD

([FHomR6HKRXYHUSHUQRLWHIRUDGDVHGH

6HUYLGRUUHFHEHUiGLiULD

5HVWLWXLomR

,5HVWLWXLomRLQWHJUDO

eGHYLGDTXDQGRRVHUYLGRUTXHUHFHEHUGLiULDVQmRVHDIDVWDUGDVHGHSRUTXDOTXHUPRWLYR

,,5HVWLWXLomRSDUFLDO

eGHYLGDTXDQGRRVHUYLGRUUHWRUQDUjVHGHHPSUD]RPHQRUGRTXHRSUHYLVWRSDUDRVHXDIDVWDPHQWR5HVWLWXLUiDVGLiULDVUHFHELGDVHPH[FHVVR

3UD]RGHUHVWLWXLomR GLDV

$UWVH

$X[tOLRPRUDGLD

&RQFHLWR

'HVWLQDGRDRUHVVDUFLPHQWRGDVGHVSHVDVFRPSURYDGDPHQWHUHDOL]DGDVSHORVHUYLGRUFRP

$OXJXHOGHPRUDGLD280HLRGHKRVSHGDJHPDGPLQLVWUDGRSRUHPSUHVDKRWHOHLUD3DJRQRSUD]RGH PrV DSyV

D FRPSURYDomR GDGHVSHVD

$EUDQJrQFLD

6HUYLGRUTXHWHQKDVHPXGDGRGRORFDOGHUHVLGrQFLDSDUDRFXSDU

,&DUJRHPFRPLVVmR,,)XQomRGHFRQILDQoDGR*UXSR'LUHomRH $VVHVVRUDPHQWR 6XSHULRUHV '$6

QtYHLVH,,,&DUJRGH1DWXUH]D(VSHFLDO,90LQLVWURGH(VWDGRRXHTXLYDOHQWHV

&DEtYHOGHVGHTXHDWHQGLGRVRVUHTXLVLWRVHVWDEHOHFLGRVQRDUW%GD/HL1mRVHUiFRQFHGLGRSRUSUD]RVXSHULRUDDQRVGHQWURGHFDGDSHUtRGRGHDQRV

9DORUPHQVDO

/LPLWDGRDGRYDORUGRFDUJRHPFRPLVVmRIXQomRFRPLVVLRQDGDRXFDUJRGH0LQLVWURGH(VWDGRRFXSDGR

/LPLWH0i[LPR

1mRSRGHUiVXSHUDUGDUHPXQHUDomRGH0LQLVWURGH(VWDGR

0tQLPR

eJDUDQWLGRRUHVVDUFLPHQWRPHQVDOGHDWp5LQGHSHQGHQWHPHQWHGRYDORUGRFDUJRHPFRPLVVmRRXGDIXQomRFRPLVVLRQDGD

6HUiSDJRSRUPDLVPrVQRFDVRGH

,)DOHFLPHQWR,,([RQHUDomR,,,&RORFDomRGHLPyYHOIXQFLRQDOjGLVSRVLomRGRVHUYLGRU,9$TXLVLomRGHLPyYHO

$UWV$D(

9$17$*(16,1'(1,=$d(6,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

*UDWLILFDo}HV

5HWULEXLomR

9DORUSDJRDRVHUYLGRURFXSDQWHGH

,&DUJRHIHWLYR

4XDQGRLQYHVWLGRHPIXQomRGH

L 'LUHomRLL &KHILDLLL $VVHVVRUDPHQWR

,,&DUJRGHSURYLPHQWRHPFRPLVVmR,,,&DUJRGHQDWXUH]DHVSHFLDO$UW

*UDWLILFDomRQDWDOLQD9DORU

&RUUHVSRQGHDGDUHPXQHUDomRGRVHUYLGRUQRPrVGHGH]HPEURSRUPrVGHH[HUFtFLRQRUHVSHFWLYRDQR$IUDomRLJXDORXVXSHULRUDGLDVVHUiFRQVLGHUDGDFRPRPrVLQWHJUDO

$JUDWLILFDomRQDWDOLQDQmRVHUiFRQVLGHUDGDSDUDFiOFXORGHTXDOTXHUYDQWDJHPSHFXQLiULD

$UWVD

*UDWLILFDomRSRU HQFDUJRGHFXUVRRXFRQFXUVR

eGHYLGDDRVHUYLGRUTXH

,$WXDUFRPRLQVWUXWRUHPFXUVRGH

L)RUPDomRLL'HVHQYROYLPHQWRLLL7UHLQDPHQWR

,, 3DUWLFLSDUGHEDQFDH[DPLQDGRUD FRPLVVmR

L([DPHVRUDLVLL$QiOLVHFXUULFXODULLL&RUUHomRGHSURYDVGLVFXUVLYDV

LY(ODERUDomRGHTXHVW}HVGHSURYDV

Y-XOJDPHQWRGHUHFXUVRV,,,3DUWLFLSDUGDORJtVWLFDGHSUHSDUDomRUHDOL]DomRGH

FRQFXUVRS~EOLFR,93DUWLFLSDUGDDSOLFDomRILVFDOL]DURX

DYDOLDUSURYDVGHH[DPHYHVWLEXODURXGHFRQFXUVRS~EOLFRRXVXSHUYLVLRQDUHVVDVDWLYLGDGHV

9DORU

&DOFXODGRHPKRUDV

'HDFRUGRFRPDQDWXUH]DHFRPSOH[LGDGHGDDWLYLGDGH

1mRSRGHUiVHUVXSHULRUDKRUDVGHWUDEDOKRDQXDLV

5HVVDOYD

3HUPLWHVHR DFUpVFLPRGHDWpKRUDVGHWUDEDOKRDQXDLVHPVLWXDomRGHH[FHSFLRQDOLGDGHGHYLGDPHQWHMXVWLILFDGDHSUHYLDPHQWHDSURYDGDSHODDXWRULGDGHPi[LPDGRyUJmRHQWLGDGH

6RPHQWHVHUiSDJD

6HDVDWLYLGDGHVIRUHPH[HUFLGDVVHPSUHMXt]RGDVDWULEXLo}HVGRFDUJR6HKRXYHUFRPSHQVDomRGHFDUJDKRUiULDTXDQGRGHVHPSHQKDGDVGXUDQWHDMRUQDGDGHWUDEDOKR

9HGDo}HV

1mRVHLQFRUSRUDDRYHQFLPHQWRGRVHUYLGRUSDUDTXDOTXHUHIHLWR1mRSRGHUiVHUXWLOL]DGDFRPREDVHGHFiOFXORSDUDTXDLVTXHURXWUDVYDQWDJHQV LQFOXVLYHSDUDILQVGHFiOFXORGRVSURYHQWRVGDDSRVHQWDGRULDHGDVSHQV}HV

$UW$

9$17$*(16*5$7,),&$d(67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

$GLFLRQDLV

3HORH[HUFtFLRGHDWLYLGDGHV

, ,QVDOXEUHV

$GLFLRQDOGHLQVDOXEULGDGH

6HUYLGRUHVTXHWUDEDOKDP

+DELWXDOPHQWHHPORFDLVLQVDOXEUHV28(PFRQWDWRSHUPDQHQWHFRPVXEVWkQFLDVWy[LFDVUDGLRDWLYDV

1mRSRGHPVHUDFXPXODGDV

,, 3HULJRVDV $GLFLRQDOGHSHULFXORVLGDGH6HUYLGRUHVTXHWUDEDOKDPFRPULVFRGHYLGD

,,, 3HQRVDV$GLFLRQDOGHSHQRVLGDGH6HUYLGRUHVHPH[HUFtFLR

(P]RQDVGHIURQWHLUD28(PORFDOLGDGHVFXMDVFRQGLo}HVGHYLGDRMXVWLILTXHP

9DORU'HWHUPLQDGRDSDUWLUGHLQFLGHQWHVREUHRYHQFLPHQWRGRFDUJRHIHWLYR

2SomR2VHUYLGRUTXHIL]HUMXVDRVDGLFLRQDLVGHLQVDOXEULGDGHHGHSHULFXORVLGDGHGHYHUiRSWDUSRUXPGHOHV

$UWVD

3HODSUHVWDomRGH VHUYLoRH[WUDRUGLQiULR

2VHUYLoRH[WUDRUGLQiULRpUHPXQHUDGRFRPDFUpVFLPRGHHPUHODomRjKRUDQRUPDOGHWUDEDOKR

+17

6RPHQWHVHUiSHUPLWLGRSDUDDWHQGHUDVLWXDo}HVH[FHSFLRQDLVHWHPSRUiULDV/LPLWH 2OLPLWHPi[LPRpGHKRUDVSRUMRUQDGD

$UWVH

1RWXUQR

eGHYLGRSDUDVHUYLoRVSUHVWDGRVHQWUH KRUDVGHXPGLD(KRUDVGRGLDVHJXLQWH

9DORU

1mRKDYHQGRKRUDH[WUD

&DGDKRUDWHUiRDFUpVFLPRGHHPUHODomRjKRUDQRUPDOGHWUDEDOKR +17

+DYHQGRKRUDH[WUD

2DGLFLRQDOVHUiGDVRPD GDKRUDQRUPDOGHWUDEDOKRFRPRDGLFLRQDOSRUVHUYLoRH[WUDRUGLQiULR

+17 $6(

'HIpULDV

eGHYLGRDRVHUYLGRUSRURFDVLmRGHIpULDV

9DORU&RUUHVSRQGHDGDUHPXQHUDomRGRSHUtRGRGHIpULDV,QFLGHVREUHDYDQWDJHPSDJDSHORH[HUFtFLRGHIXQomRGHGLUHomRFKHILDRXDVVHVVRUDPHQWRRXFDUJRHPFRPLVVmR$UW

2VDGLFLRQDLVLQFRUSRUDPVHDRYHQFLPHQWRRXSURYHQWR QRVFDVRVHFRQGLo}HVLQGLFDGRVHPOHL/HLDUW2 DGLFLRQDOSRUWHPSRGHVHUYLoRIRLUHYRJDGR03

9$17$*(16$',&,21$,67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS


)pULDV

'LUHLWRGHIpULDVDQXDLVUHPXQHUDGDV2VHUYLGRUWHPGLUHLWRDGLDVGHIpULDVDQXDLV

/HLDUW caput

&)DUW;9,,

3HUtRGRDTXLVLWLYR

eRSHUtRGRDVHUFXPSULGRSHORVHUYLGRUSDUDDGTXLULURGLUHLWRDRJR]RGHIpULDV

SHUtRGRDTXLVLWLYR

3DUDRSHUtRGRDTXLVLWLYRGHIpULDVVHUmRH[LJLGRVPHVHVGHH[HUFtFLR

'HPDLVSHUtRGRV

$SDUWLUGRSHUtRGR

$VIpULDVVmRFRQFHGLGDVSRUH[HUFtFLR,QGHSHQGHQWHPHQWHGRFXPSULPHQWRGHSHUtRGRDTXLVLWLYRGHPHVHVSDUDDIUXLomR$UW

$FXPXODomRGHIpULDV

3RGHUiKDYHUDFXPXODomR 1RFDVRGHQHFHVVLGDGHGRVHUYLoR

/LPLWHPi[LPR SHUtRGRV

3DUFHODPHQWRGHIpULDV

3RGHUmRVHUSDUFHODGDVHPDWpHWDSDV

5HTXLVLWRV5HTXHULPHQWRGRVHUYLGRU,QWHUHVVHGD$GPLQLVWUDomR3~EOLFD'LVFULFLRQiULR

2DGLFLRQDOGHIpULDVVHUiSDJRQRSHUtRGR

9HGDomR eYHGDGROHYDUjFRQWDGHIpULDVTXDOTXHUIDOWDDRVHUYLoR

3DJDPHQWR DQWHFLSDGRGDUHPXQHUDomRGHIpULDV

2SDJDPHQWRGDUHPXQHUDomRGHIpULDVVHUiHIHWXDGRDWpGLDVDQWHVGRLQtFLRGRUHVSHFWLYRSHUtRGR

$UW

,QGHQL]DomRGHIpULDVQmRJR]DGDV

6HUYLGRU(;21(5$'2GRFDUJRHIHWLYRRXHPFRPLVVmRSHUFHEHUiLQGHQL]DomRUHODWLYD

$RSHUtRGRGHIpULDVDTXHWLYHUGLUHLWR

)pULDVYHQFLGDV

$RSHUtRGRLQFRPSOHWR

)pULDVSURSRUFLRQDLV

6HUiSDJDQDSURSRUomRGHSRU

0rV GHHIHWLYRH[HUFtFLR

)pULDVYHQFLGDV

)UDomRVXSHULRUDGLDV

)pULDVSURSRUFLRQDLV

9DORU

&DOFXODGDFRPEDVHQDUHPXQHUDomRGRPrVGHSXEOLFDomRGRDWRH[RQHUDWyULR$FUHVFLGRVGHUHIHUHQWHjVIpULDVQmRXVXIUXtGDVDGLFLRQDOGHIpULDV 67)

$UW H

2SHUDGRUGH5DLRV;

2VHUYLGRUTXHRSHUDGLUHWDHSHUPDQHQWHPHQWHFRP5DLRV;RXVXEVWkQFLDVUDGLRDWLYDV

*R]DUiGLDV FRQVHFXWLYRVGHIpULDVSRUVHPHVWUHGHDWLYLGDGHSURILVVLRQDO3URLELGDHPTXDOTXHUKLSyWHVHDDFXPXODomR

$UW

,QWHUUXSomRGHIpULDV

$VIpULDVSRGHUmRVHULQWHUURPSLGDVHPFDVRGH

L&DODPLGDGHS~EOLFDLL&RPRomRLQWHUQDLLL&RQYRFDomRSDUDRM~ULLY6HUYLoRPLOLWDUHOHLWRUDOY 1HFHVVLGDGHGRVHUYLoR

'HFODUDGDSHODDXWRULGDGHPi[LPDGRyUJmRHQWLGDGH

$UW

',5(,726(9$17$*(16)e5,$67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

3DUDFDGDSHUtRGRGHPHVHVLQFOXtGDVDVSURUURJDo}HV

/LFHQoDV

/LFHQoDSRUPRWLYRGHGRHQoDGHSHVVRDGDIDPtOLD

3HVVRDGDIDPtOLD

,&{QMXJHFRPSDQKHLUR,,3DLV,,,)LOKRV,93DGUDVWRPDGUDVWD9(QWHDGR

9,'HSHQGHQWH4XHYLYDDVXDVH[SHQVDVHFRQVWHGRVHXDVVHQWDPHQWRIXQFLRQDO

5HTXLVLWRVSDUDFRQFHVVmR

,&RPSURYDomRSRUSHUtFLDPpGLFD2),&,$/

'LVSHQVDGD 6HDOLFHQoDIRULQIHULRUDGLDV GHQWURGHDQRDUW FF DUW,,1HFHVVLGDGHGHDFRPSDQKDPHQWRGRVHUYLGRU

6HUiFRQFHGLGDTXDQGRDDVVLVWrQFLDGLUHWDGRVHUYLGRU

)RULQGLVSHQViYHO(

1mRSXGHUVHUSUHVWDGD

6LPXOWDQHDPHQWHFRPRH[HUFtFLRGRFDUJR280HGLDQWH FRPSHQVDomRGHKRUiULR

'XUDomR

$WpGLDV FRQVHFXWLYRVRXQmR

&RPUHPXQHUDomR

$WpGLDV FRQVHFXWLYRVRXQmR

6HPUHPXQHUDomR

$VRPDGDVOLFHQoDVUHPXQHUDGDVHQmRUHPXQHUDGDVFRQFHGLGDVHPXPPHVPRSHUtRGRGHPHVHV QmRSRGHUiXOWUDSDVVDURVOLPLWHVHVWDEHOHFLGRVGLDV

&RQFHVVmRGDOLFHQoD $WRYLQFXODGR

7HPSRGHVHUYLoR

,/LFHQoDUHPXQHUDGD

L3ULPHLURVGLDV&RQWDFRPRWHPSRGHVHUYLoRSDUDWRGRVRVHIHLWRV

LL 3URUURJDomR FRPUHPXQHUDomR TXHH[FHGHUDGLDVHPSHUtRGRGHPHVHV

&RQWDDSHQDVSDUDHIHLWRGHDSRVHQWDGRULDHGLVSRQLELOLGDGH

,,/LFHQoDQmRUHPXQHUDGD1mR FRQWDFRPRWHPSRGHVHUYLoR$UW,,

(VWiJLR3UREDWyULR

3RGHVHUFRQFHGLGDGXUDQWHRHVWiJLRSUREDWyULRDUW2HVWiJLRSUREDWyULRILFDVXVSHQVRGXUDQWHDOLFHQoD DUW

'XUDQWHRSHUtRGRGDOLFHQoDpYHGDGRRH[HUFtFLRGHDWLYLGDGHUHPXQHUDGDDUW

$UW

/LFHQoDSDUDVHUYLoRPLOLWDU

&RQFHGLGDDRVHUYLGRUFRQYRFDGRSDUDVHUYLoRPLOLWDUQDIRUPDHFRQGLo}HVSUHYLVWDVQDOHJLVODomRHVSHFtILFD

3UD]RSDUDUHDSUHVHQWDomR

6HUYLGRUWHUiDWpGLDVDSyVDFRQFOXVmRGRVHUYLoRPLOLWDUSDUDUHDVVXPLURFDUJR6HPUHPXQHUDomR


7HPSRGHVHUYLoR eFRQVLGHUDGDFRPRGHHIHWLYRH[HUFtFLRDUW9,,,I

(VWiJLR3UREDWyULR 3RGHVHUFRQFHGLGDGXUDQWHRHVWiJLRSUREDWyULRDUW $UW

',5(,726(9$17$*(16/,&(1d$6,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

/LFHQoDV

/LFHQoDSDUDDWLYLGDGHSROtWLFD

)LQDOLGDGH

3HUPLWLUTXHRVHUYLGRUVHGHGLTXHjFDPSDQKDHOHLWRUDO(YLWDURXVRLQGHYLGRGRFDUJRQDFDPSDQKD

1mRVHFRQIXQGHFRPRDIDVWDPHQWRSDUDH[HUFtFLRGRPDQGDWRHOHWLYR

5HPXQHUDomR

, /LFHQoDVHPUHPXQHUDomR 3HUtRGR

(QWUHDVXDHVFROKDHPFRQYHQomRSDUWLGiULDFRPRFDQGLGDWRDFDUJRHOHWLYR($YpVSHUDGRUHJLVWURGHVXDFDQGLGDWXUDSHUDQWHD-XVWLoD(OHLWRUDO

,,/LFHQoDUHPXQHUDGD

3DUDVHUYLGRUWLWXODUGHFDUJRHIHWLYR

3HUtRGR $SDUWLUGRUHJLVWURGDFDQGLGDWXUD($WpRGLDVHJXLQWHDRGDHOHLomR

/LPLWH 3DJDSRUQRPi[LPRPHVHV


7HPSRGHVHUYLoR

/LFHQoDVHPUHPXQHUDomR 1mRpFRPSXWDGDFRPRWHPSRGHVHUYLoR

/LFHQoDUHPXQHUDGD

&RQWDDSHQDVSDUDHIHLWRGHDSRVHQWDGRULDHGLVSRQLELOLGDGH DUW,,,

(VWiJLR3UREDWyULR

$OLFHQoDSRGHVHUFRQFHGLGDDRVHUYLGRUHPHVWiJLRSUREDWyULR

2HVWiJLRSUREDWyULRILFDVXVSHQVRGXUDQWHDOLFHQoD$UWH

(VFROKDHPFRQYHQomRSDUWLGiULD5HJLVWUR GDFDQGLGDWXUDGLD VHJXLQWHjHOHLomR

6HP UHPXQHUDomR 5HPXQHUDGDPi[PHVHV

1mRFRQWDFRPRWHPSRGHVHUYLoR

&RQWDDSHQDVSDUDDSRVHQWDGRULDHGLVSRQLELOLGDGH

$UW

/LFHQoDSDUDFDSDFLWDomR

&RQFHGLGDDRVHUYLGRURFXSDQWHGHFDUJRHIHWLYRSDUDSDUWLFLSDUGHFXUVRGHFDSDFLWDomRSURILVVLRQDO

5HTXLVLWRV6HUWLWXODUGHFDUJRHIHWLYR(IHWLYRH[HUFtFLRSRUDQRV TXLQTXrQLR2VSHUtRGRVGHOLFHQoDQmRVmRDFXPXOiYHLV

'XUDomR 3RUDWpPHVHV

5HPXQHUDomR &RPUHPXQHUDomR

&RQFHVVmRGDOLFHQoD $WR GLVFULFLRQiULR FRQFHGLGDQRLQWHUHVVHGD$GPLQLVWUDomR

7HPSRGHVHUYLoR eFRQVLGHUDGDFRPRGHHIHWLYRH[HUFtFLRDUW9,,,H

$UW

',5(,726(9$17$*(16/,&(1d$6,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

3RGHUiKDYHUH[HUFtFLRSURYLVyULRHPyUJmRRXHQWLGDGHGD$GPLQLVWUDomR)HGHUDOGLUHWDDXWiUTXLFDRXIXQGDFLRQDO'HVGHTXHSDUDDWLYLGDGHFRPSDWtYHOFRPRVHXFDUJR

/LFHQoDV

/LFHQoDSRUPRWLYRGHDIDVWDPHQWRGRF{QMXJHRXFRPSDQKHLUR

, /LFHQoD VHPUHPXQHUDomR

&RQFHGLGDDRVHUYLGRUSDUDDFRPSDQKDUF{QMXJHRXFRPSDQKHLURTXHIRLGHVORFDGRSDUD

L2XWURSRQWRGRWHUULWyULRQDFLRQDOLL2H[WHULRULLL2H[HUFtFLRGHPDQGDWRHOHWLYRGRV3RGHUHV([HFXWLYRH/HJLVODWLYR

'XUDomR 3RUSUD]RLQGHWHUPLQDGR

5HPXQHUDomR 6HPUHPXQHUDomR

7HPSRGHVHUYLoR

1mRpFRPSXWDGDFRPRWHPSRGHVHUYLoR

(VWiJLR3UREDWyULR

3RGHVHUFRQFHGLGDGXUDQWHRHVWiJLRSUREDWyULR

2HVWiJLRSUREDWyULRILFDVXVSHQVRGXUDQWHDOLFHQoD

$UWH

,, ([HUFtFLRSURYLVyULR

6HRF{QMXJHRXFRPSDQKHLURGHVORFDGRIRU

0LOLWDU286HUYLGRUS~EOLFRGHTXDOTXHUGRV3RGHUHVGRVHQWHVSROtWLFRV

1mRVHWUDWDGHUHPRomRRXUHGLVWULEXLomRPDVDSHQDVGHH[HUFtFLRSURYLVyULR

$UW

/LFHQoDSDUD WUDWDUGH LQWHUHVVHVSDUWLFXODUHV/7,3

&RQFHGLGDDRVHUYLGRURFXSDQWHGHFDUJRHIHWLYRGHVGHTXHQmRHVWHMDHPHVWiJLRSUREDWyULR

'XUDomR $WpDQRVFRQVHFXWLYRV


&RQFHVVmRGDOLFHQoD

$WR GLVFULFLRQiULRFRQFHGLGDQRLQWHUHVVHGD$GPLQLVWUDomR

,QWHUUXSomR$OLFHQoDSRGHVHULQWHUURPSLGDDTXDOTXHUWHPSR ,$SHGLGRGRVHUYLGRU28,,1RLQWHUHVVHGRVHUYLoR

7HPSRGHVHUYLoR 1mRpFRPSXWDGDFRPRWHPSRGHVHUYLoR

(VWiJLRSUREDWyULR

1mRSRGHVHUFRQFHGLGDGXUDQWHRHVWiJLRSUREDWyULR

2VHUYLGRUQRJR]RGH/7,3SRGH

3DUWLFLSDUGHJHUrQFLDRXDGPLQLVWUDomRGHVRFLHGDGHSULYDGD([HUFHURFRPpUFLR

$UWS~QLFR,,

$UW

',5(,726(9$17$*(16/,&(1d$6,,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

/LFHQoDV

/LFHQoDSDUDGHVHPSHQKRGHPDQGDWRFODVVLVWD

&RQFHGLGDSDUD

,2GHVHPSHQKRGHPDQGDWRHP

L&RQIHGHUDomRLL)HGHUDomRLLL$VVRFLDomRGHFODVVHGHkPELWRQDFLRQDOLY6LQGLFDWRUHSUHVHQWDWLYRGDFDWHJRULDY(QWLGDGHILVFDOL]DGRUDGDSURILVVmR

,,3DUWLFLSDUGHJHUrQFLDRXDGPLQLVWUDomRHPVRFLHGDGH FRRSHUDWLYD FRQVWLWXtGD SRU VHUYLGRUHV

S~EOLFRVSDUDSUHVWDUVHUYLoRVDVHXVPHPEURV


6RPHQWHSRGHUmRVHUOLFHQFLDGRVVHUYLGRUHVHOHLWRVSDUDFDUJRVGHGLUHomRRXUHSUHVHQWDomRQDVUHIHULGDVHQWLGDGHV

/LPLWHV

VHUYLGRU (QWLGDGHVFRPDWpDVVRFLDGRV

VHUYLGRUHV (QWLGDGHVFRPDDVVRFLDGRV

VHUYLGRUHV (QWLGDGHVFRPPDLVGHDVVRFLDGRV

'XUDomR,JXDOjGRPDQGDWRSRGHQGRVHUSURUURJDGDQRFDVRGHUHHOHLomRHSRUXPD~QLFDYH]



7HPSRGHVHUYLoR

eFRQVLGHUDGDFRPRGHHIHWLYRH[HUFtFLRDUW9,,,F

([FHWRSDUDHIHLWRGHSURPRomRSRUPHUHFLPHQWR

(VWiJLRSUREDWyULR

1mRSRGHVHUFRQFHGLGDDRVHUYLGRUTXHHVWHMDHPHVWiJLRSUREDWyULRDUW

$UW

/LFHQoDSDUDWUDWDPHQWRGHVD~GH

7UDWDVHGHEHQHItFLRFRQFHGLGRDRVHUYLGRUSDUDWUDWDUGDSUySULDVD~GH

'XUDomR

2SHUtRGRPi[LPRFRQWtQXRGHOLFHQoDSDUDWUDWDPHQWRGHVD~GHpGHPHVHV$SyVRSHUtRGRGHPHVHVQmRHVWDQGRHPFRQGLo}HVGHDVVXPLURFDUJRRXVHUUHDGDSWDGRVHUiDSRVHQWDGRSRULQYDOLGH]DUWH



5HJUD&RQFHGLGDFRPEDVHHPSHUtFLDPpGLFDRILFLDO6HUiGLVSHQVDGDDSHUtFLDPpGLFD

1DOLFHQoDSDUDWUDWDPHQWRGHVD~GHLQIHULRUDGLDV GHQWURGHDQR

([FHomR

,&RQFHGLGDSRUMXQWD PpGLFDRILFLDO

$OLFHQoDTXHH[FHGHUGLDVQRSHUtRGRGHPHVHVDFRQWDUGRGLDGHDIDVWDPHQWR

,,$WHVWDGRGHPpGLFRSDUWLFXODU

+LSyWHVHVH[FHSFLRQDLVSUHYLVWDVQRDUW


7HPSRGHVHUYLoR

eFRQVLGHUDGDFRPRGHHIHWLYRH[HUFtFLR

2SHUtRGRGHOLFHQoDDWpROLPLWHGHPHVHVFXPXODWLYRVDRORQJRGRWHPSRGHVHUYLoRS~EOLFRSUHVWDGRj 8QLmRHPFDUJRGHSURYLPHQWRHIHWLYRDUW9,,,E


2SHUtRGRDOpPGROLPLWHGHPHVHVDUW9,,

$UWVD

',5(,726(9$17$*(16/,&(1d$6,97KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

GHFULDQoD

/LFHQoDV

/LFHQoDjJHVWDQWHj DGRWDQWHH OLFHQoDSDWHUQLGDGH

7LSRV

, *HVWDQWH

'XUDomR

GLDVFRQVHFXWLYRV

,QtFLR

3RGHUiRFRUUHUDSDUWLUGRGLDGRPrVGHJHVWDomR6DOYRDQWHFLSDomRSRUSUHVFULomRPpGLFD$SDUWLUGRSDUWRQRFDVRGHQDVFLPHQWRSUHPDWXUR

1DWLPRUWR6HUiFRQFHGLGDOLFHQoDGHGLDV$SyVRVGLDVDVHUYLGRUDVHUiVXEPHWLGDDH[DPHPpGLFRHVHMXOJDGDDSWDUHDVVXPLUiRH[HUFtFLR

$ERUWR$VHUYLGRUDWHUiGLUHLWRDGLDVGHUHSRXVRUHPXQHUDGR'HYHVHUDWHVWDGRSRUPpGLFRRILFLDO

,, $GRWDQWH

&RQFHGLGDjVHUYLGRUDTXH

$GRWDU282EWLYHUDJXDUGDMXGLFLDO

'XUDomR

GLDVSDUDFULDQoDGH$7e DQRGHLGDGHGLDVSDUDFULDQoDFRP0$,6GHDQRGHLGDGH

,,, 3DWHUQLGDGH'XUDomR GLDVFRQVHFXWLYRV

+LSyWHVHV 1DVFLPHQWR$GRomR



7HPSRGHVHUYLoR2VWLSRVGHOLFHQoDVmRFRQVLGHUDGRVFRPRGHHIHWLYRH[HUFtFLRDUW9,,,D

$UWVD

/LFHQoDSRU DFLGHQWHHPVHUYLoR

$FLGHQWHGHVHUYLoR

'DQRItVLFRRXPHQWDOVRIULGRSHORVHUYLGRUTXHVHUHODFLRQHPHGLDWDRXLPHGLDWDPHQWHFRPDVDWULEXLo}HVGRFDUJR(TXLSDUDVHDDFLGHQWHGHVHUYLoRRGDQR

,'HFRUUHQWHGHDJUHVVmRVRIULGDHQmRSURYRFDGDSHORVHUYLGRUQRH[HUFtFLRGRFDUJR

,,6RIULGRQRSHUFXUVRGDUHVLGrQFLDSDUDRWUDEDOKRHYLFHYHUVD



7HPSRGHVHUYLoReFRQVLGHUDGDFRPRGHHIHWLYRH[HUFtFLRDUW9,,,G

$UW

',5(,726(9$17$*(16/,&(1d$697KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS


$IDVWDPHQWRV

3DUDVHUYLUDRXWUR yUJmRRXHQWLGDGH

&HGHQWH eTXHPFHGHRVHUYLGRURULJHP

&HVVLRQiULR eTXHPUHTXLVLWDRVHUYLGRUGHVWLQR

+LSyWHVHVGHFHVVmR

,3DUDH[HUFtFLRGH &DUJRHPFRPLVVmR&&)XQomRGHFRQILDQoD)&,,(PFDVRVSUHYLVWRVHPOHLHVSHFtILFD

QXVGDUHPXQHUDomR

, 'RFHVVLRQiULR

1DFHVVmRSDUDH[HUFtFLRGH&&RX)&HPyUJmRHQWLGDGHGRV(VWDGRV')H0XQLFtSLRV

,, 'RFHGHQWH 'HPDLVFDVRVkPELWRIHGHUDO

&DEHUiUHHPEROVRDRFHVVLRQiULRTXDQGRVHUYLGRUIRUFHGLGRD(3RX6(0HRSWDUSRU

L5HPXQHUDomRGRFDUJRHIHWLYRRXLL5HPXQHUDomRGRFDUJRHIHWLYRDFUHVFLGDGHGDUHWULEXLomRGR&&

(VWiJLRSUREDWyULR

6HUYLGRUHPHVWiJLRSUREDWyULRVRPHQWHSRGHVHUFHGLGRSDUDFDUJRVGHQDWXUH]DHVSHFLDOH&&GHQtYHO'$6 RXHTXLYDOHQWHDUW

7HPSRGHVHUYLoR eFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLRDUW,,

$UW

3DUDH[HUFtFLRGHPDQGDWRHOHWLYR

0DQGDWRIHGHUDOHVWDGXDORXGLVWULWDO

6HUYLGRUVHUiDIDVWDGRGRFDUJR5HFHEHUiRVXEVtGLRGRPDQGDWRHOHWLYR

0DQGDWRGH3UHIHLWR6HUYLGRUVHUiDIDVWDGRGRFDUJR3RGHUiRSWDUSHODUHPXQHUDomR

0DQGDWRGH9HUHDGRU

+DYHQGRFRPSDWLELOLGDGHGHKRUiULR

3RGHDFXPXODURFDUJRHIHWLYRFRPRPDQGDWRHOHWLYR)DUiMXVjUHPXQHUDomRGRFDUJRHDRVXEVtGLRGRPDQGDWR

1mRKDYHQGRFRPSDWLELOLGDGHGHKRUiULR 6HUYLGRUVHUiDIDVWDGRGRFDUJR3RGHUiRSWDUSHODUHPXQHUDomR

&RQFHVVmRGRDIDVWDPHQWR $WRYLQFXODGR

(VWiJLRSUREDWyULR3RGHVHUFRQFHGLGRGXUDQWHRHVWiJLRSUREDWyULRDUW

7HPSRGHVHUYLoR

eFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLRDUW9

([FHWRSDUDHIHLWRGHSURPRomRSRUPHUHFLPHQWR

2VHUYLGRULQYHVWLGRHPPDQGDWRHOHWLYRRXFODVVLVWDQmRSRGHUiVHUUHPRYLGRRXUHGLVWULEXtGRGH2)&,2SDUDORFDOLGDGHGLYHUVDGDTXHODGRPDQGDWR

$UW

',5(,726(9$17$*(16$)$67$0(1726,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS


$IDVWDPHQWRV

3DUDHVWXGRRXPLVVmRQRH[WHULRU

6HUYLGRUSRGHUiDXVHQWDUVHGRSDtVSDUDHVWXGRRXPLVVmRQRH[WHULRU

&RQFHVVmRGRDIDVWDPHQWR

$WRGLVFULFLRQiULR

1HFHVViULDDDXWRUL]DomRGR

,3UHVLGHQWHGD5HS~EOLFD,,3UHVLGHQWHGRVUJmRV

GR3RGHU/HJLVODWLYR,,,3UHVLGHQWHGR67)

'XUDomR$WpDQRV1RYRDIDVWDPHQWR 6RPHQWHTXDQGRGHFRUULGRLJXDOSHUtRGR


(VWiJLRSUREDWyULR

3RGHVHUFRQFHGLGRGXUDQWHRHVWiJLRSUREDWyULRDUW ([FHWRQRFDVRGHSyVJUDGXDomRQRH[WHULRUDUW$

7HPSRGHVHUYLoR eFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLRDUW9,,

$RVHUYLGRUEHQHILFLDGRGRDIDVWDPHQWRQmRVHUiFRQFHGLGDH[RQHUDomRRX/7,3

5HVVDOYDGR 5HVVDUFLPHQWRGDGHVSHVDKDYLGDFRPRDIDVWDPHQWR

$UW

3DUDVHUYLUHPRUJDQLVPRLQWHUQDFLRQDO

&RQFHGLGRSDUDRVHUYLGRUVHUYLUHPRUJDQLVPRLQWHUQDFLRQDOGHTXHR%UDVLOSDUWLFLSHRXFRPRTXDOFRRSHUH

&RQFHVVmRGRDIDVWDPHQWR $WRGLVFULFLRQiULR

5HPXQHUDomR 2FRUUHFRPDSHUGDWRWDOGDUHPXQHUDomR

(VWiJLRSUREDWyULR

3RGHVHUFRQFHGLGRGXUDQWHRHVWiJLRSUREDWyULRDUW2HVWiJLRSUREDWyULRILFDVXVSHQVRGXUDQWHRDIDVWDPHQWR$UW

7HPSRGHVHUYLoReFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLRDUW;,

$UW

3DUDSyVJUDGXDomR

VWULFWRVHQVXQR3DtV

&RQFHGLGRTXDQGRDSDUWLFLSDomRQmRSRVVDRFRUUHU ,6LPXOWDQHDPHQWHFRPRH[HUFtFLRGRFDUJR,,0HGLDQWHFRPSHQVDomRGHKRUiULR

&RQFHVVmRGRDIDVWDPHQWR $WRGLVFULFLRQiULR


5HTXLVLWRV

([FOXVLYRGHVHUYLGRUHVWLWXODUHVGHFDUJRHIHWLYR'HYHHVWDUQRFDUJRKiSHORPHQRV DQRVQRFDVRGHPHVWUDGRDQRVQRFDVRGHGRXWRUDGR1mRSRGHQRVDQRVDQWHULRUHVjGDWDGDVROLFLWDomRGRDIDVWDPHQWRWHUVHDIDVWDGRSRU/7,3RXOLFHQoDFDSDFLWDomR

3HUtRGRGHSHUPDQrQFLD

$SyVRUHWRUQRRVHUYLGRUGHYHSHUPDQHFHUQRH[HUFtFLRGDVVXDVIXQo}HVSRUSHUtRGRLJXDODRGRDIDVWDPHQWR'HYHUiUHVVDUFLURyUJmRRXDHQWLGDGH

2VHUYLGRUTXHVROLFLWHDH[RQHUDomRRXDDSRVHQWDGRULDDQWHVGHFXPSULGRRSHUtRGRGHSHUPDQrQFLD

(VWiJLRSUREDWyULR

1mRSRGHVHUFRQFHGLGRGXUDQWHRHVWiJLRSUREDWyULR

7HPSRGHVHUYLoR eFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLRDUW,9

$UW$

',5(,726(9$17$*(16$)$67$0(1726,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS


/LFHQoDVH$IDVWDPHQWRV

(VWiJLRSUREDWyULR

3RGHUiVHUFRQFHGLGRGXUDQWHRHVWiJLRSUREDWyULR

,/LFHQoDSRUPRWLYRGHGRHQoDHPSHVVRDGDIDPtOLD,,/LFHQoDSRUPRWLYRGHDIDVWDPHQWRGRF{QMXJHRXFRPSDQKHLUR,,,/LFHQoDSDUDDWLYLGDGHSROtWLFD,9/LFHQoDSDUDRVHUYLoRPLOLWDU9$IDVWDPHQWRSDUDH[HUFtFLRGHPDQGDWRHOHWLYR9,$IDVWDPHQWRSDUDHVWXGRRXPLVVmRRILFLDOQRH[WHULRU

([FHWRQRFDVRGHSyVJUDGXDomRQRH[WHULRUDUW$9,,$IDVWDPHQWRSDUDVHUYLUHPRUJDQLVPRLQWHUQDFLRQDO

GHTXHR%UDVLOSDUWLFLSHRXFRPRTXDOFRRSHUH9,,,$IDVWDPHQWRSDUDSDUWLFLSDUGHFXUVRGHIRUPDomR

GHFRUUHQWHGHDSURYDomRHPFRQFXUVRSDUDRXWURFDUJRIHGHUDO

$UW

2HVWiJLRSUREDWyULRILFDUiVXVSHQVRGXUDQWH

,/LFHQoDSRUPRWLYRGHGRHQoDHPSHVVRDGDIDPtOLD,,/LFHQoDSRUPRWLYRGHDIDVWDPHQWRGRF{QMXJHRXFRPSDQKHLUR,,,/LFHQoDSDUDDWLYLGDGHSROtWLFD,9$IDVWDPHQWRSDUDVHUYLUHPRUJDQLVPRLQWHUQDFLRQDO

GHTXHR%UDVLOSDUWLFLSHRXFRPRTXDOFRRSHUH9$IDVWDPHQWRSDUDSDUWLFLSDUGHFXUVRGHIRUPDomR

GHFRUUHQWHGHDSURYDomRHPFRQFXUVRSDUDRXWURFDUJRIHGHUDO$UW

7HPSRGHVHUYLoR

eFRQVLGHUDGRFRPRGHHIHWLYRH[HUFtFLR

,/LFHQoDSRUPRWLYRGHGRHQoDHPSHVVRDGDIDPtOLD

1RVSULPHLURVGLDVUHPXQHUDGD DUW,,

,,/LFHQoDSDUDVHUYLoRPLOLWDUDUW9,,,I ,,,/LFHQoDSDUDFDSDFLWDomRDUW9,,,H,9/LFHQoDSDUDGHVHPSHQKRGHPDQGDWRFODVVLVWDDUW9,,,F

([FHWRSDUDHIHLWRGHSURPRomRSRUPHUHFLPHQWR9/LFHQoDSDUDWUDWDPHQWR

GHVD~GH

$WpROLPLWHGHPHVHVFXPXODWLYRVDRORQJRGRWHPSRGHVHUYLoRS~EOLFRSUHVWDGRj8QLmRHPFDUJRGHSURYLPHQWRHIHWLYRDUW9,,,E

9,/LFHQoDJHVWDQWHDGRWDQWHSDWHUQLGDGHDUW9,,,D 9,,/LFHQoDSRUDFLGHQWHHPVHUYLoRDUW9,,,G 9,,,$IDVWDPHQWRSDUDVHUYLUDRXWURyUJmRRXHQWLGDGHDUW,,,;$IDVWDPHQWRSDUDH[HUFtFLRGHPDQGDWRHOHWLYRDUW9

([FHWRSDUDHIHLWRGHSURPRomRSRUPHUHFLPHQWR;$IDVWDPHQWRSDUDHVWXGRRXPLVVmRQRH[WHULRUDUW9,, ;,$IDVWDPHQWRSDUDVHUYLUHPRUJDQLVPR LQWHUQDFLRQDO

GHTXHR%UDVLOSDUWLFLSHRXFRPRTXDOFRRSHUHDUW;, ;,, $IDVWDPHQWRSDUDSyVJUDGXDomR

VWULFWRVHQVX QR3DtVDUW,9


,/LFHQoDSRUPRWLYRGHGRHQoDHPSHVVRDGDIDPtOLD

&RPUHPXQHUDomRTXHH[FHGHUDGLDVHPSHUtRGRGHPHVHVDUW,,

,,/LFHQoDSDUDDWLYLGDGHSROtWLFD 5HPXQHUDGDDUW,,,

,,,/LFHQoDSDUDWUDWDPHQWR

GHVD~GH

2SHUtRGRTXHH[FHGHUROLPLWHGHPHVHVFXPXODWLYRVDRORQJRGRWHPSRGHVHUYLoRS~EOLFRSUHVWDGRj8QLmRHPFDUJRGHSURYLPHQWRHIHWLYRDUW9,,

1mRFRQWDFRPRWHPSRGHVHUYLoR

,/LFHQoDSRUPRWLYRGHGRHQoDHPSHVVRDGDIDPtOLD1mRUHPXQHUDGD

,,/LFHQoDSDUDDWLYLGDGHSROtWLFD 1mRUHPXQHUDGD,,,/LFHQoDSRUPRWLYRGHDIDVWDPHQWRGRF{QMXJHRXFRPSDQKHLUR,9/LFHQoDSDUDWUDWDUGHLQWHUHVVHVSDUWLFXODUHV/7,3

/,&(1d$6($)$67$0(1726(67*,2352%$75,2(7(032'(6(59,d27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

&RQFHVV}HV

'LUHLWRGHDXVHQWDUVHGRVHUYLoR

GLD 'RDomRGHVDQJXH

GLDV $OLVWDUVHFRPRHOHLWRU

GLDVFRQVHFXWLYRV

,&DVDPHQWR

,,)DOHFLPHQWR

L&{QMXJHFRPSDQKHLURLL3DLVLLL0DGUDVWDSDGUDVWRLY)LOKRVY(QWHDGRVYL0HQRUVREJXDUGDRXWXWHODYLL,UPmRV

$UW

'LUHLWRDKRUiULRHVSHFLDO

, 6HUYLGRUHVWXGDQWH

&RQFHGLGDTXDQGRFRPSURYDGDDLQFRPSDWLELOLGDGHHQWUHRKRUiULRHVFRODUHRGDUHSDUWLomR

5HTXLVLWRV,QFRPSDWLELOLGDGHHQWUHRKRUiULRHVFRODUHRGDUHSDUWLomR$XVrQFLDGHSUHMXt]RDRH[HUFtFLRGRFDUJR

&RPSHQVDomRGHKRUiULR eH[LJLGD

5HVSHLWDGDDGXUDomRVHPDQDOGHWUDEDOKR

,, 6HUYLGRUSRUWDGRUGH

GHILFLrQFLD

&RQFHGLGDTXDQGRFRPSURYDGDDQHFHVVLGDGHSRU MXQWDPpGLFDRILFLDO-02&RPSHQVDomRGHKRUiULR 1mRpH[LJLGD

,,, 6HUYLGRUFRP IDPLOLDUSRUWDGRUGH

GHILFLrQFLDItVLFD

)DPLOLDU&{QMXJH)LOKR'HSHQGHQWH

5HTXLVLWR&RPSURYDomRGDQHFHVVLGDGHSRUMXQWDPpGLFDRILFLDO-02

&RPSHQVDomRGHKRUiULR eH[LJLGD

'HYHRFRUUHUDWpRPrVVHJXLQWHDVHUHVWDEHOHFLGDSHODFKHILDLPHGLDWD

,9 3RU HQFDUJRGHFXUVRRX

FRQFXUVR

'LUHLWRFRQFHGLGRDRVHUYLGRUTXHDWXHFRPRLQVWUXWRURXSDUWLFLSHGHEDQFDH[DPLQDGRUDQRVFDVRVTXHHQVHMHPDJUDWLILFDomRSRUHQFDUJRGHFXUVRRXFRQFXUVR&RPSHQVDomRGHKRUiULR eH[LJLGD

'HYHVHUHIHWLYDGDHPDWpDQR

$UW

'LUHLWRGRVHUYLGRUHVWXGDQWHTXHPXGDUGHVHGH

'LUHLWRFRQFHGLGRDRVHUYLGRUHVWXGDQWHTXHPXGDUGHVHGHQRLQWHUHVVHGD$GPLQLVWUDomRGHPDWULFXODUVHHPLQVWLWXLomRGHHQVLQR FRQJrQHUH

&RQFHGLGRHPTXDOTXHUpSRFDLQGHSHQGHQWHPHQWHGDYDJD

&RQFHVVmRH[WHQVtYHOD

L&{QMXJHFRPSDQKHLURLL)LOKRVLLL(QWHDGRVLY0HQRUVREJXDUGDFRPDXWRUL]DomRMXGLFLDO$UW

',5(,726(9$17$*(16&21&(66(67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

'LUHLWRGH3HWLomR

&RQFHLWR

'LUHLWRGHSHWLomRpRGLUHLWRIXQGDPHQWDODPSORTXHDEUDQJHDVUHFODPDo}HVLPSXJQDo}HVUHSUHVHQWDo}HVHUHFXUVRVDGPLQLVWUDWLYRV0$OH[DQGULQRH93DXOReDVVHJXUDGRDRVHUYLGRURGLUHLWRGHUHTXHUHUDRV3RGHUHV3~EOLFRVHPGHIHVDGHGLUHLWRRXLQWHUHVVHOHJtWLPRDUW

5HTXHULPHQWR3URFHGLPHQWR

6HUiHQFDPLQKDGRSHORVXSHULRUKLHUiUTXLFRGRUHTXHUHQWH6HUiGLULJLGRjDXWRULGDGHFRPSHWHQWHSDUDGHFLGLOR

3UD]RV,3DUDGHVSDFKR GLDV

,,3DUDGHFLVmR GLDV$UW

3HGLGRGHUHFRQVLGHUDomR

eRUHFXUVRGLULJLGRjDXWRULGDGHTXHSURIHULXDGHFLVmRFRPLQWXLWRGH 5HIRUPiODDQiOLVHGHPpULWR28$QXOiODDQiOLVHGHOHJDOLGDGH

3URFHGLPHQWR'LULJLGRjDXWRULGDGHTXHH[SHGLXRDWRRXSURIHULXDGHFLVmR3RGHVHULQWHUSRVWRXPD~QLFDYH] 1mRSRGHVHUUHQRYDGR

3UD]RV

,3DUDLQWHUSRVLomR GLDV $FRQWDUGDSXEOLFDomRRXGDFLrQFLDSHORLQWHUHVVDGRGDGHFLVmRUHFRUULGD

,,3DUDGHVSDFKR GLDV

,,,3DUDGHFLVmR GLDV

(IHLWRVGDGHFLVmR

(PFDVRGHSURYLPHQWRVmRUHWURDWLYRVex tunc

2VHIHLWRVGDGHFLVmRUHWURDJLUmRjGDWDGRDWRLPSXJQDGR

$UW

5HFXUVR

&DEHUiUHFXUVR

'RLQGHIHULPHQWRGRSHGLGRGHUHFRQVLGHUDomR'DVGHFLV}HVVREUHRVUHFXUVRVVXFHVVLYDPHQWHLQWHUSRVWRV

3URFHGLPHQWR

6HUiGLULJLGRjDXWRULGDGHLPHGLDWDPHQWHVXSHULRUjTXHWLYHUH[SHGLGRRDWRRXSURIHULGRDGHFLVmRHVXFHVVLYDPHQWHHPHVFDODDVFHQGHQWHjVGHPDLVDXWRULGDGHVUHFXUVRKLHUiUTXLFR6HUiHQFDPLQKDGRSHORVXSHULRUKLHUiUTXLFRGRUHTXHUHQWH

3UD]RGHLQWHUSRVLomR

GLDV $FRQWDUGDSXEOLFDomRRXGDFLrQFLDSHORLQWHUHVVDGRGDGHFLVmRUHFRUULGD

(IHLWRVXVSHQVLYR

3RGHVHUFRQFHGLGRDMXt]R GDDXWRULGDGHFRPSHWHQWH

(IHLWRVGDGHFLVmR

(PFDVRGHSURYLPHQWRVmRUHWURDWLYRVex tunc

2VHIHLWRVGDGHFLVmRUHWURDJLUmRjGDWDGRDWRLPSXJQDGR

$UWV

3UHVFULomR

2GLUHLWRGHUHTXHUHUSUHVFUHYH

DQRV 3DUD,'HPLVVmR,,&DVVDomRGHDSRVHQWDGRULDRXGLVSRQLELOLGDGH,,,$WRVTXHDIHWHPLQWHUHVVHSDWULPRQLDOH

FUpGLWRVUHVXOWDQWHVGDVUHODo}HVGHWUDEDOKR

GLDV 3DUDRVGHPDLVFDVRV

&DUDFWHUtVWLFDV

2SUD]RGHSUHVFULomRVHUiFRQWDGR

'DGDWDGDSXEOLFDomRGRDWRLPSXJQDGR28'DGDWDGDFLrQFLDSHORLQWHUHVVDGRTXDQGRRDWRQmRIRUSXEOLFDGR

2SHGLGRGHUHFRQVLGHUDomRHRUHFXUVRTXDQGRFDEtYHLVLQWHUURPSHPDSUHVFULomR$SUHVFULomRpGHRUGHPS~EOLFDQmRSRGHQGRVHUUHOHYDGDSHOD$GPLQLVWUDomR

$UWV

6~PXOD67)

eLQFRQVWLWXFLRQDODH[LJrQFLDGHGHSyVLWRRXDUURODPHQWRSUpYLRVGHGLQKHLURRXEHQVSDUDDGPLVVLELOLGDGHGHUHFXUVRDGPLQLVWUDWLYR

',5(,726(9$17$*(16',5(,72'(3(7,d27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

'HYHUHV

5HODWLYRVjHILFLrQFLD

,([HUFHUFRP]HORHGHGLFDomRDVDWULEXLo}HVGRFDUJR

/HLDUW

,,=HODUSHODHFRQRPLDGRPDWHULDOHDFRQVHUYDomRGRSDWULP{QLRS~EOLFR

,,,$WHQGHUFRP

SUHVWH]D

L$RS~EOLFRHPJHUDOSUHVWDQGRDVLQIRUPDo}HVUHTXHULGDV5HVVDOYDGDVDVSURWHJLGDVSRUVLJLORLLH[SHGLomRGHFHUWLG}HVUHTXHULGDVSDUDGHIHVDGHGLUHLWRRXHVFODUHFLPHQWRGHVLWXDo}HVGHLQWHUHVVHSHVVRDO

LLLVUHTXLVLo}HVSDUDDGHIHVDGD)D]HQGD3~EOLFD

,96HUDVVtGXRHSRQWXDODRVHUYLoR

5HODWLYRVjOHJDOLGDGH

,2EVHUYDUDVQRUPDVOHJDLVHUHJXODPHQWDUHV,,/HYDUDVLUUHJXODULGDGHVGHTXHWLYHUFLrQFLDHPUD]mRGRFDUJRDRFRQKHFLPHQWRGDDXWRULGDGHVXSHULRURXTXDQGRKRXYHU VXVSHLWD GHHQYROYLPHQWRGHVWDDRFRQKHFLPHQWRGH

RXWUDDXWRULGDGHFRPSHWHQWHSDUDDSXUDomR,,, 5HSUHVHQWDU FRQWUD LOHJDOLGDGH

RPLVVmRRXDEXVRGHSRGHU

5HSUHVHQWDomR

eHQFDPLQKDGDSHODYLDKLHUiUTXLFD6HUiDSUHFLDGDSHODDXWRULGDGHVXSHULRUjTXHODFRQWUDDTXDOpIRUPXODGD

5HODWLYRVjPRUDOLGDGH

,0DQWHUFRQGXWDFRPSDWtYHOFRPDPRUDOLGDGHDGPLQLVWUDWLYD

,,6HUOHDOjVLQVWLWXLo}HVDTXHVHUYLU,,,7UDWDUFRPXUEDQLGDGHDVSHVVRDV

5HODWLYRVjKLHUDUTXLD

&XPSULUDVRUGHQVVXSHULRUHV

([FHWRTXDQGRPDQLIHVWDPHQWHLOHJDLV

5HODWLYRVDRVLJLOR *XDUGDUVLJLORVREUHDVVXQWRGDUHSDUWLomR

5(*,0(',6&,3/,1$5'(9(5(67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

1RUHFLQWRGDUHSDUWLomR $GYHUWrQFLDDUW

3URLELo}HV

,$XVHQWDUVHGRVHUYLoRGXUDQWHRH[SHGLHQWHVHPSUpYLDDXWRUL]DomRGRFKHIHLPHGLDWR $GYHUWrQFLDDUW

/HLDUW

,,5HWLUDUVHPSUpYLDDQXrQFLDGD DXWRULGDGH FRPSHWHQWH TXDOTXHUGRFXPHQWRRXREMHWRGDUHSDUWLomR

$GYHUWrQFLDDUW

,,,5HFXVDUIpDGRFXPHQWRVS~EOLFRV $GYHUWrQFLDDUW

,92SRUUHVLVWrQFLDLQMXVWLILFDGDDRDQGDPHQWRGHGRFXPHQWRHSURFHVVRRXH[HFXomRGHVHUYLoR $GYHUWrQFLDDUW

93URPRYHUPDQLIHVWDomRGH $SUHoRRX'HVDSUHoR

9,&RPHWHUDSHVVRD(675$1+$jUHSDUWLomRIRUDGRVFDVRVSUHYLVWRVHPOHL

RGHVHPSHQKRGHDWULEXLomRTXHVHMDGHVXDUHVSRQVDELOLGDGHRXGHVHXVXERUGLQDGR

$GYHUWrQFLDDUW

$FRPSHWrQFLDpLUUHQXQFLiYHOHVHH[HUFHSHORVyUJmRVDGPLQLVWUDWLYRVDTXHIRLDWULEXtGDFRPRSUySULDVDOYRRVFDVRVGHGHOHJDomRHDYRFDomROHJDOPHQWHDGPLWLGRV/HLDUW

9,,&RDJLURXDOLFLDUVXERUGLQDGRVSDUDVHILOLDUHPDDVVRFLDomRSURILVVLRQDORXVLQGLFDORXDSDUWLGRSROtWLFR $GYHUWrQFLDDUW

9,,,3UDWLFDURQHSRWLVPR

0DQWHUVREVXDFKHILDLPHGLDWDHPFDUJRRXIXQomRGHFRQILDQoDF{QMXJHFRPSDQKHLURRXSDUHQWHDWpRJUDXFLYLO

$GYHUWrQFLDDUW

;,;5HFXVDUVHDDWXDOL]DUVHXVGDGRVFDGDVWUDLVTXDQGRVROLFLWDGR $GYHUWrQFLDDUW

;9,,&RPHWHUDRXWUR6(59,'25DWULEXLo}HVHVWUDQKDVDRFDUJRTXHRFXSD 6XVSHQVmRDUW

([FHWRHPVLWXDo}HVGHHPHUJrQFLDHWUDQVLWyULDV

;9,,,([HUFHUTXDLVTXHUDWLYLGDGHVTXHVHMDPLQFRPSDWtYHLVFRP

RH[HUFtFLRGRFDUJRRXIXQomRHFRPRKRUiULRGHWUDEDOKR

6XVSHQVmRDUW

5(*,0(',6&,3/,1$5352,%,d(6,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

3URLELo}HV

,;9DOHUVHGRFDUJRSDUDORJUDUSURYHLWRSHVVRDORXGHRXWUHPHPGHWULPHQWRGDGLJQLGDGHGDIXQomRS~EOLFD

,QFRPSDWLELOL]DRH[VHUYLGRUSDUDQRYDLQYHVWLGXUDHPFDUJRS~EOLFRIHGHUDOSHORSUD]RGHDQRVDUW

'HPLVVmRDUW

/HLDUW

;9HGDomRTXDQWRD

3DUWLFLSDUGHJHUrQFLDRXDGPLQLVWUDomRGHVRFLHGDGHSULYDGDSHUVRQLILFDGDRXQmR

([HUFHURFRPpUFLR

([FHWRQDTXDOLGDGHGH

L$FLRQLVWDLL&RWLVWDLLL&RPDQGLWiULR

'HPLVVmRDUW

$YHGDomRQmRVHDSOLFDHP

L3DUWLFLSDomRQRVFRQVHOKRVGHDGPLQLVWUDomRHILVFDOGHHPSUHVDVRXHQWLGDGHVHPTXHD8QLmRGHWHQKDGLUHWDRXLQGLUHWDPHQWHSDUWLFLSDomRQRFDSLWDOVRFLDOLL3DUWLFLSDomRHPVRFLHGDGHFRRSHUDWLYDFRQVWLWXtGDSDUDSUHVWDUVHUYLoRVDVHXVPHPEURV

LLL*R]RGHOLFHQoDSDUDRWUDWRGHLQWHUHVVHVSDUWLFXODUHV/7,3REVHUYDGDD OHJLVODomRVREUHFRQIOLWRGHLQWHUHVVHV

;,$WXDUFRPRSURFXUDGRURXLQWHUPHGLiULRMXQWRDUHSDUWLo}HVS~EOLFDV

6DOYRTXDQGRVHWUDWDUGHEHQHItFLRVSUHYLGHQFLiULRVRXDVVLVWHQFLDLVGH

L3DUHQWHVDWpRJUDXLL&{QMXJHLLL&RPSDQKHLUR

,QFRPSDWLELOL]DRH[VHUYLGRUSDUDQRYDLQYHVWLGXUDHPFDUJRS~EOLFRIHGHUDOSHORSUD]RGHDQRVDUW

'HPLVVmRDUW

;,,5HFHEHUSURSLQDFRPLVVmRSUHVHQWHRXYDQWDJHPGHTXDOTXHU

HVSpFLHHPUD]mRGHVXDVDWULEXLo}HV'HPLVVmRDUW

;,,,$FHLWDUFRPLVVmRHPSUHJRRXSHQVmRGHHVWDGRHVWUDQJHLUR 'HPLVVmRDUW

;,93UDWLFDUXVXUDVRETXDOTXHUGHVXDVIRUPDV 'HPLVVmRDUW

;93URFHGHUGHIRUPDGHVLGLRVD'HPLVVmRDUW

;9,8WLOL]DUSHVVRDORXUHFXUVRVPDWHULDLVGDUHSDUWLomRHPVHUYLoRVRXDWLYLGDGHVSDUWLFXODUHV

'HPLVVmRDUW

5(*,0(',6&,3/,1$5352,%,d(6,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

(;3/25$'25$6'($7,9,'$'((&210,&$

4XHSUHVWHPVHUYLoRVS~EOLFRV

5HVSRQVDELOLGDGHGR(VWDGR

5HVSRQVDELOLGDGH2EMHWLYD

7HRULDGRULVFRDGPLQLVWUDWLYR

$GRWDGDSDUDDVFRQGXWDV&20,66,9$6&)DUW

$EUDQJH

3HVVRDMXUtGLFDGHGLUHLWR3%/,&2

$GPLQLVWUDomR'LUHWD$XWDUTXLDVHIXQGDo}HVS~EOLFDV

3HVVRDMXUtGLFDGHGLUHLWR35,9$'235(67$'25$'(6(59,d23%/,&2

(PSUHVDVS~EOLFDV6RFLHGDGHVGHHFRQRPLDPLVWD)XQGDo}HVS~EOLFDVGHGLUHLWRSULYDGR'HOHJDWiULDV

1mRLQFOXL

(PSUHVDVS~EOLFDV6RFLHGDGHVGHHFRQRPLDPLVWD

$UHVSRQVDELOLGDGHFLYLOREMHWLYDGDVSUHVWDGRUDVGHVHUYLoRS~EOLFRDEUDQJHRVGDQRVFDXVDGRVDRVXVXiULRVGRVHUYLoRS~EOLFRHWDPEpPDWHUFHLURVQmR XVXiULRVGRVHUYLoRS~EOLFR67)5(062DJHQWHS~EOLFRGHYHHVWDUQRH[HUFtFLRGDVVXDVDWULEXLo}HVRXSURFHGHUFRPRVHDVHVWLYHVVHH[HUFHQGRDWXDQGRQDTXDOLGDGHGHDJHQWHS~EOLFR

5HVSRQVDELOLGDGHVXEMHWLYD

7HRULDGDFXOSDDGPLQLVWUDWLYDFXOSDGRVHUYLoR

$GRWDGDSDUDDVFRQGXWDV20,66,9$6

$&)QmRWUD]UHJUDVUHODWLYDVjUHVSRQVDELOLGDGHFLYLOSRUHYHQWXDLVGDQRVFDXVDGRVSRURPLVV}HVGR3RGHU3~EOLFRPDVDMXULVSUXGrQFLDFRQVWUXLXRHQWHQGLPHQWRTXHHVWDpSRVVtYHO

&RQGXWDRPLVVLYDGR3RGHU3~EOLFR

2PLVVmRFXOSRVD

'HYHVHUFRPSURYDGDDIDOWDGRVHUYLoR

5HVSRQVDELOLGDGHVXEMHWLYD

2{QXVGDSURYDpGRSDUWLFXODU

([FOXGHQWHVGHUHVSRQVDELOLGDGH

, ([FOXVLYDPHQWHDWRVGHWHUFHLURV

,,)RUoDPDLRU

5(*,0(',6&,3/,1$55(63216$%,/,'$'('2(67$'27KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

5HVSRQVDELOLGDGH

2VHUYLGRUS~EOLFRUHVSRQGHFLYLOSHQDOHDGPLQLVWUDWLYDPHQWHSHORH[HUFtFLRLUUHJXODUGHVXDVDWULEXLo}HVDUW

, 5HVSRQVDELOLGDGHFLYLO

2FRUUHTXDQGRDFRQGXWDGRVHUYLGRUUHVXOWDUHPSUHMXt]RDR(UiULRRXDWHUFHLURV

,, 5HVSRQVDELOLGDGHSHQDO

2FRUUHTXDQGRDFRQGXWDGRVHUYLGRUVHHQTXDGUDUHPLOtFLWRSHQDO$EUDQJHRVFULPHVHFRQWUDYHQo}HVLPSXWDGRVDRVHUYLGRUQHVVDTXDOLGDGHDUW

,,, 5HVSRQVDELOLGDGHDGPLQLVWUDWLYD

2FRUUHTXDQGRDFRQGXWDGRVHUYLGRUVHHQTXDGUDUHPLOtFLWRGLVFLSOLQDULQIUDomRIXQFLRQDO5HVXOWDGHDWRRPLVVLYRRXFRPLVVLYRSUDWLFDGRQRGHVHPSHQKRGRFDUJRRXGDIXQomRDUW

,QGHSHQGrQFLDGDV(VIHUDV

5HJUD$VUHVSRQVDELOLGDGHVDGPLQLVWUDWLYDFLYLOHSHQDOVmRFXPXODWLYDVHHPSULQFtSLRLQGHSHQGHQWHVDUW

([FHomR

5HSHUFXVVmRGDHVIHUDSHQDOQDVHVIHUDVDGPLQLVWUDWLYDHFLYLO

3RGHUiRFRUUHUTXDQGRDFRQGXWDGRVHUYLGRUWLSLILFDGDQDOHLSHQDOFRPRFULPHRXFRQWUDYHQomRWDPEpPIRUHQTXDGUDGDFRPRLQIUDomRGLVFLSOLQDUHGDTXDOGHFRUUDGDQRSDWULPRQLDORXPRUDO

&DVRV

, &RQGHQDomRSHQDO WUDQVLWDGDHPMXOJDGR

$FDUUHWDUiRUHFRQKHFLPHQWRDXWRPiWLFRGDUHVSRQVDELOLGDGHFLYLOHDGPLQLVWUDWLYD

,, $EVROYLomRSHQDOSRULQH[LVWrQFLDGRIDWRRXQHJDWLYDGHDXWRULD

$IDVWDDUHVSRQVDELOLGDGHFLYLOHDGPLQLVWUDWLYDDUW

$DEVROYLomRSHQDOSRUIDOWDGHSURYDVRXSRUDXVrQFLDGHWLSLFLGDGHRXGHFXOSDELOLGDGHSHQDORXSRUTXDOTXHURXWURPRWLYRQmRLQWHUIHUHQDVGHPDLVHVIHUDV0$OH[DQGULQRH93DXOR

5HVSRQVDELOLGDGH&LYLO

'HFRUUHGHDWRRPLVVLYRRXFRPLVVLYRGRORVRRXFXOSRVRUHVSRQVDELOLGDGHVXEMHWLYDTXHUHVXOWHHPSUHMXt]RDR(UiULRRXDWHUFHLURV$UHVSRQVDELOLGDGHFLYLOFRQVLVWHQRUHVVDUFLPHQWRGRVSUHMXt]RVFDXVDGRVj$GPLQLVWUDomR3~EOLFDRXDWHUFHLURVSURYRFDGRVHPGHFRUUrQFLDGRH[HUFtFLRGHVXDVDWULEXLo}HV

5HSRVLo}HVHLQGHQL]Do}HVDR(UiULR

6HUmRFRPXQLFDGDVDRVHUYLGRUSDUDRSDJDPHQWRQRSUD]RPi[LPRGHGLDV

3RGHUmRVHUSDUFHODGDV

$SHGLGRGRLQWHUHVVDGR2YDORUGHFDGDSDUFHODQmRSRGHUiVHULQIHULRUDGDUHPXQHUDomR

'HYHUiKDYHUUHSRVLomRLPHGLDWD

1RFDVRGHSDJDPHQWRLQGHYLGRRFRUULGRQRPrVDQWHULRUDRGRSURFHVVDPHQWRGDIROKD

$UW

'DQRFDXVDGRDWHUFHLUR

2(VWDGRUHVSRQGHSHUDQWHRWHUFHLURUHVSRQVDELOLGDGHREMHWLYD &)DUW2VHUYLGRUUHVSRQGHSHUDQWHD)D]HQGD3~EOLFDHPDomRUHJUHVVLYDUHVSRQVDELOLGDGHVXEMHWLYD$omRUHJUHVVLYDpDTXHODSURPRYLGDSHOR(VWDGRFRQWUDRVHUYLGRUDSyVWHUVLGRRWHUFHLURLQGHQL]DGRSHOR3RGHU3~EOLFR

5HVSRQVDELOLGDGHGRVVXFHVVRUHV

$REULJDomRGHUHSDUDURGDQRHVWHQGHVHDRVVXFHVVRUHVHFRQWUDHOHVVHUiH[HFXWDGDDWpROLPLWHGRYDORUGDKHUDQoDUHFHELGD

$UW

5(*,0(',6&,3/,1$55(63216$%,/,'$'('26(59,'257KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

$SOLFiYHODRLQDWLYRTXHFRPHWHUQDDWLYLGDGHIDOWDSXQtYHOFRPGHPLVVmRDUW

1HVVHSUD]RVHFRPHWHUQRYDIDOWDVHUiFRQVLGHUDGRUHLQFLGHQWH

3HQDOLGDGHV

,QWURGXomR

6DQomRGLVFLSOLQDUpDFRQVHTXrQFLDMXUtGLFDGHVIDYRUiYHOSUHYLVWDHPOHLHLPSRVWDDRVHUYLGRUS~EOLFRHVWDWXWiULRDSyVDREVHUYkQFLDGRGHYLGRSURFHVVROHJDOHPUD]mRGRFRPHWLPHQWRGHLQIUDomRIXQFLRQDODHOHLPSXWiYHOSHOD$GPLQLVWUDomR3~EOLFD

(VSpFLHV

, $GYHUWrQFLD,, 6XVSHQVmR

,,, 3HQDOLGDGHVH[SXOVLYDV

FDSLWDLV

L 'HPLVVmR $SOLFiYHODRRFXSDQWHGHFDUJRHIHWLYR

LL &DVVDomRGH $SRVHQWDGRULD'LVSRQLELOLGDGH

LLL 'HVWLWXLomRGH

&DUJRHPFRPLVVmR

$SOLFiYHODRQmRRFXSDQWHGHFDUJRHIHWLYRTXHFRPHWHUIDOWDSXQtYHOFRPVXVSHQVmRHGHPLVVmRDUW

)XQomRFRPLVVLRQDGD

&ULWpULRVSDUDDSOLFDomRGDSHQD

1DDSOLFDomRGDVSHQDOLGDGHVVHUmRFRQVLGHUDGDV

$ QDWXUH]DHDJUDYLGDGHGDLQIUDomRFRPHWLGD2VGDQRVTXHGHODSURYLHUHPSDUDRVHUYLoRS~EOLFR$VFLUFXQVWkQFLDVDJUDYDQWHVRXDWHQXDQWHV2VDQWHFHGHQWHVIXQFLRQDLV

$UW

$DSOLFDomRGHSHQDOLGDGHH[SXOVLYDpFRPSXOVyULDDWRYLQFXODGRVHFDUDFWHUL]DGDLQIUDomRGLVFLSOLQDUDQWHYLVWDQRDUW3DUHFHU$*8*4

'RVLPHWULDGDSHQD

$VVHQWDPHQWRIXQFLRQDO

$VVDQo}HVDSOLFDGDVDRVHUYLGRUVmRUHJLVWUDGDVQRVHXDVVHQWDPHQWRIXQFLRQDO6HUYHSDUDYHULILFDURVDQWHFHGHQWHVIXQFLRQDLVGRVHUYLGRU

$GYHUWrQFLD

&RQVWLWXLSHQDOLGDGHGHVWLQDGDDFKDPDUDDWHQomRRILFLDOHSXEOLFDPHQWHGRVHUYLGRUSDUDDFRUUHomRGHVHXFRPSRUWDPHQWRLUUHJXODU$&$OHQFDU&DUYDOKReDVDQomRGLVFLSOLQDUPDLVEUDQGDDSOLFiYHOSRUHVFULWRDRVLOtFLWRVFRQVLGHUDGRVOHYHV

,QIUDo}HVGLVFLSOLQDUHVSXQtYHLVFRPDGYHUWrQFLD

,,QREVHUYkQFLDGHGHYHUIXQFLRQDOSUHYLVWRHP OHLUHJXODPHQWDomRRXQRUPDLQWHUQDTXHQmRMXVWLILTXHLPSRVLomRGHSHQDOLGDGHPDLVJUDYH

'HYHUIXQFLRQDO $UW,,9LRODomRGHSURLELomRFRQVWDQWH

GR DUW LQFLVRV,D9,,,H;,;

$XWRULGDGHFRPSHWHQWHSDUDDSOLFDomRGDDGYHUWrQFLD

&KHIHGDUHSDUWLomR2XWUDVDXWRULGDGHVQDIRUPDGRVUHVSHFWLYRVUHJLPHQWRVRXUHJXODPHQWRV

$UW,,,

&DQFHODPHQWRGRUHJLVWUR

$DGYHUWrQFLDWHUiVHXUHJLVWURFDQFHODGRDSyVDQRVGHHIHWLYRH[HUFtFLRVHRVHUYLGRUQmRFRPHWHUQRYDLQIUDomRGLVFLSOLQDU2FDQFHODPHQWRGDSHQDOLGDGHQmRVXUWLUiHIHLWRVUHWURDWLYRV

$UW

$UW

5(*,0(',6&,3/,1$53(1$/,'$'(6,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

6XVSHQVmRGHDWpGLDV

&RQIRUPHRyUJmRRXDHQWLGDGHDTXHVHHQFRQWUDUYLQFXODGRRVHUYLGRU

1HVVHSUD]RVHFRPHWHUQRYDIDOWDVHUiFRQVLGHUDGRUHLQFLGHQWH

3HQDOLGDGHV

6XVSHQVmR

6XVSHQVmRpDVDQomRGLVFLSOLQDUQDTXDOVHSURtEHRVHUYLGRUGHH[HUFHUVXDVIXQo}HVSRUDWpGLDV FRPDSHUGDGDUHPXQHUDomRSHORVGLDVUHVSHFWLYRV$VXVSHQVmRSRGHUiVHUFRQYHUWLGDHPPXOWDHPSRUGLDGHYHQFLPHQWRRXUHPXQHUDomRILFDQGRRVHUYLGRUREULJDGRDSHUPDQHFHUHPVHUYLoR

$WRGLVFULFLRQiULR

,QIUDo}HVGLVFLSOLQDUHVSXQtYHLVFRPVXVSHQVmR

,5HLQFLGrQFLDGDVIDOWDVSXQLGDVFRPDGYHUWrQFLD

,,5HFXVDLQMXVWLILFDGDDVHVXEPHWHUDLQVSHomRPpGLFD2FXPSULPHQWRGDGHWHUPLQDomRFHVVDRVHIHLWRVGDSHQDOLGDGH

,,,&RPHWHUDRXWUR6(59,'25DWULEXLo}HVHVWUDQKDVDRFDUJRTXHRFXSD([FHWRHPVLWXDo}HVGHHPHUJrQFLDHWUDQVLWyULDV

,9([HUFHUTXDLVTXHUDWLYLGDGHVTXHVHMDPLQFRPSDWtYHLVFRPRH[HUFtFLRGRFDUJRRXIXQomRHFRPRKRUiULRGHWUDEDOKR

$XWRULGDGHFRPSHWHQWHSDUDDSOLFDomRGDVXVSHQVmR

,6XVSHQVmRGH$7eGLDV

&KHIHGDUHSDUWLomR2XWUDVDXWRULGDGHVQDIRUPDGRVUHVSHFWLYRVUHJLPHQWRVRXUHJXODPHQWRV$UW,,,

,,6XVSHQVmR683(5,25DGLDVDUW,,

$XWRULGDGHVDGPLQLVWUDWLYDVGHKLHUDUTXLDLPHGLDWDPHQWHLQIHULRUD

3UHVLGHQWHGD5HS~EOLFD3UHVLGHQWHVGDV&DVDVGR3RGHU/HJLVODWLYR3UHVLGHQWHVGRV7ULEXQDLV)HGHUDLV3URFXUDGRU*HUDOGD5HS~EOLFD

&DQFHODPHQWRGRUHJLVWUR

$VXVSHQVmRWHUiVHXUHJLVWUR FDQFHODGR DSyVDQRVGHHIHWLYRH[HUFtFLRVHRVHUYLGRUQmRFRPHWHUQRYDLQIUDomRGLVFLSOLQDU2FDQFHODPHQWRGDSHQDOLGDGHQmRVXUWLUiHIHLWRVUHWURDWLYRV

$UW

$UW

5(*,0(',6&,3/,1$53(1$/,'$'(6,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

&RQIRUPHRyUJmRRXDHQWLGDGHDTXHVHHQFRQWUDUYLQFXODGRRVHUYLGRU

3HQDOLGDGHV

3HQDOLGDGHVH[SXOVLYDV

$VSHQDVH[SXOVLYDVFDSLWDLVH[WLQJXHPRYtQFXORGRVHUYLGRUIDOWRVRFRPD$GPLQLVWUDomR3~EOLFD

,QIUDo}HVGLVFLSOLQDUHVSXQtYHLVFRPSHQDVH[SXOVLYDV

,&ULPHFRQWUDD$GPLQLVWUDomR3~EOLFD

1mRSRGHUi UHWRUQDUDRVHUYLoRS~EOLFRIHGHUDODUW

,,$EDQGRQRGHFDUJR

$XVrQFLDLQWHQFLRQDOGRVHUYLGRUDRVHUYLoRSRU0$,6GHGLDVFRQVHFXWLYRVDUW

,,, ,QDVVLGXLGDGHKDELWXDO

)DOWDDRVHUYLoRVHPFDXVDMXVWLILFDGDSRUGLDVLQWHUSRODGDPHQWHGXUDQWHRSHUtRGRGHPHVHVDUW

,9,PSURELGDGHDGPLQLVWUDWLYD,PSOLFDWDPEpPDLQGLVSRQLELOLGDGHGRVEHQVHRUHVVDUFLPHQWRDR(UiULRDUW


9,QFRQWLQrQFLDS~EOLFDHFRQGXWDHVFDQGDORVDQDUHSDUWLomR

9,,QVXERUGLQDomRJUDYHHPVHUYLoR9,,2IHQVDItVLFDHPVHUYLoRDVHUYLGRURXDSDUWLFXODU

VDOYRHPOHJtWLPDGHIHVDSUySULDRXGHRXWUHP9,,,$SOLFDomR LUUHJXODU

GHGLQKHLURVS~EOLFRV,PSOLFDWDPEpPDLQGLVSRQLELOLGDGHGRVEHQVHRUHVVDUFLPHQWRDR(UiULRDUW


,;5HYHODomRGHVHJUHGRGRTXDOVHDSURSULRXHPUD]mRGRFDUJR

;/HVmRDRVFRIUHVS~EOLFRVHGLODSLGDomRGRSDWULP{QLRQDFLRQDO,PSOLFDWDPEpPDLQGLVSRQLELOLGDGHGRVEHQVHRUHVVDUFLPHQWRDR(UiULRDUW

1mRSRGHUiUHWRUQDU DRVHUYLoR S~EOLFRIHGHUDODUW

;,&RUUXSomR,PSOLFDWDPEpPDLQGLVSRQLELOLGDGHGRVEHQVHRUHVVDUFLPHQWRDR(UiULRDUW


;,,$FXPXODomRLOHJDOGHFDUJRVHPSUHJRVRXIXQo}HVS~EOLFDV

;,,,7UDQVJUHVVmRGRVLQFLVRV,;D;9,GRDUW9HUPDSDGH3URLELo}HV,,$GHVWLWXLomRGHFDUJRHPFRPLVVmRH[HUFLGRSRUQmRRFXSDQWHGHFDUJRHIHWLYRWDPEpPVHUiDSOLFDGDQRVFDVRVGHLQIUDomRVXMHLWDjVSHQDOLGDGHVGHVXVSHQVmRDUW

$UW

$XWRULGDGHFRPSHWHQWHSDUDDSOLFDomRGDVSHQDVH[SXOVLYDV

,'HPLVVmRHFDVVDomRGHDSRVHQWDGRULDRXGLVSRQLELOLGDGHDUW,

$XWRULGDGHFRPSHWHQWH

3UHVLGHQWHGD5HS~EOLFD3UHVLGHQWHVGDV&DVDVGR3RGHU/HJLVODWLYR3UHVLGHQWHVGRV7ULEXQDLV)HGHUDLV3URFXUDGRU*HUDOGD5HS~EOLFD

,,'HVWLWXLomRGHFDUJRHPFRPLVVmR

$XWRULGDGHTXHQRPHRXDUW,9

5(*,0(',6&,3/,1$53(1$/,'$'(6,,,7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

3$'1Ro}HV

3UHOLPLQDUHV

$EUDQJrQFLDGR UHJLPHGLVFLSOLQDU

, 2EMHWLYD ,OtFLWRDGPLQLVWUDWLYRGLVFLSOLQDUDUW

eWRGDFRQGXWDSUDWLFDGDSHORVHUYLGRUS~EOLFRQRH[HUFtFLRGHVXDVDWULEXLo}HVRXTXHWHQKDUHODomRFRPDVDWULEXLo}HVGRFDUJRHPTXHVHHQFRQWUHLQYHVWLGRTXH

L'HL[DGHREVHUYDUGHYHUIXQFLRQDODUW28

LL 7UDQVJULGHSURLELomRSUHYLVWDQDOHLDUWV H

,, 6XEMHWLYD

6HUYLGRUHVHVWDWXWiULRVIHGHUDLV

2FXSDQWHVGHFDUJR

(IHWLYR(PFRPLVVmR

1mRVH FRQIXQGHFRPRVFRQFHLWRVGH

)XQFLRQiULRS~EOLFR&3DUW $JHQWHS~EOLFR/HLDUW

1mRDOFDQoDRVFDUJRVGH0LQLVWURGH(VWDGRFDUJRGHQDWXUH]DHVSHFLDODJHQWHSROtWLFR

3DUHFHU$*8*4

&LrQFLDGHLUUHJXODULGDGH

'HYHUGHDSXUDomR

$XWRULGDGHTXHWLYHUFLrQFLDGHLUUHJXODULGDGHQRVHUYLoRS~EOLFRpREULJDGDDSURPRYHUDVXDDSXUDomRLPHGLDWDDUW

,QVWUXPHQWRVGHDSXUDomRGHUHVSRQVDELOLGDGHVGLVFLSOLQDUHV

, 6LQGLFkQFLD,, 3URFHVVRDGPLQLVWUDWLYR

GLVFLSOLQDU3$'

'HQ~QFLD

5HTXLVLWRVGHDGPLVVLELOLGDGHDUW

,,GHQWLILFDomRHHQGHUHoRGRGHQXQFLDQWH

1mRSRGHVHUDQ{QLPD

,,)RUPXODGDSRUHVFULWR)RUPDO,,,2REMHWRGDGHQ~QFLDGHYHFRQILJXUDU

LQIUDomRGLVFLSOLQDURXLOtFLWRSHQDO

5HSUHVHQWDomReGHYHUGRVHUYLGRUDUW9, H ;,,(QFDPLQKDGDSHODYLDKLHUiUTXLFDHDSUHFLDGDSHODDXWRULGDGHVXSHULRUjTXHODFRQWUDDTXDOpIRUPXODGD

5HYLVmRGRSURFHVVRGLVFLSOLQDU

2SURFHVVRGLVFLSOLQDUSRGHUiVHUUHYLVWRDTXDOTXHUWHPSR

,QLFLDWLYD, $SHGLGR

'RVHUYLGRU'DIDPtOLDQRFDVRGHPRUWHDXVrQFLDRXGHVDSDUHFLPHQWRGRVHUYLGRU

,, 'HRItFLR $GPLQLVWUDomR3~EOLFD

0RWLYR

)DWRVQRYRVRXFLUFXQVWkQFLDVVXVFHWtYHLVGHMXVWLILFDU

,$LQRFrQFLDGRSXQLGR28,,$LQDGHTXDomRGD

SHQDOLGDGHDSOLFDGD1mRFRQVWLWXL IXQGDPHQWRSDUDDUHYLVmRDVLPSOHVDOHJDomRGHLQMXVWLoD

QXVGDSURYD &DEHDRUHTXHUHQWH

5HYLVmRHPSUHMXt]Rreformatio in pejus

1mRDGPLWLGD'DUHYLVmRGRSURFHVVRQmRSRGHUiUHVXOWDUDJUDYDPHQWRGHSHQDOLGDGH

$UWV

352&(662$'0,1,675$7,92',6&,3/,1$512d(635(/,0,1$5(67KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

6LQGLFkQFLD

&RQFHLWR

6LQGLFkQFLD HPVHQWLGRDPSOR

3URFHGLPHQWRDGPLQLVWUDWLYRTXHYLVDDSXUDomRGHLUUHJXODULGDGH

7LSRV

, 6LQGLFkQFLDLQTXLVLWRULDOLQYHVWLJDWLYD

3URFHGLPHQWRDGPLQLVWUDWLYRLQYHVWLJDWLYRGLVFULFLRQiULRHGHQDWXUH]DLQTXLVLWRULDO

3UHVFLQGHGH &RQWUDGLWyULR$PSODGHIHVD

7UDWDVHGHSURFHGLPHQWRPHUDPHQWHLQYHVWLJDWyULRVHPDIRUPDOL]DomRGHDFXVDomRDTXDOTXHUVHUYLGRU

,, 6LQGLFkQFLDDFXVDWyULD

SXQLWLYD

3URFHGLPHQWRFpOHUHGHVWLQDGRDDSXUDUUHVSRQVDELOLGDGHGHPHQRUJUDYLGDGH/HL 'HYHDVVHJXUDU &RQWUDGLWyULR$PSODGHIHVD

&RPLVVmR

)RUPDGDSRURXVHUYLGRUHVHVWiYHLV3RUWDULD&*8DUW1mRSRGHUi

SDUWLFLSDU GDFRPLVVmR

,&{QMXJHFRPSDQKHLUR

,,3DUHQWHGRDFXVDGR

&RQVDQJXtQHRRXDILPHPOLQKDUHWDRXFRODWHUDODWpRJUDX$UW

)DVHV$/HLQmRHVWDEHOHFHQHQKXPDIDVHRXULWRSDUDVLQGLFkQFLD

'RXWULQD5HFRPHQGDRPHVPRUHJUDPHQWRGR3$'5LWR2UGLQiULR

&RQVHTXrQFLDV

, $UTXLYDPHQWRGRSURFHVVR

,, $SOLFDomRGHL $GYHUWrQFLDLL 6XVSHQVmRGHDWpGLDV

,,, ,QVWDXUDomRGH3$'+LSyWHVHVTXHH[LMDPSHQDOLGDGHVPDLVJUDYHV

$UW

3HQDOLGDGHV , $GYHUWrQFLD,, 6XVSHQVmR SRUDWpGLDV

3UD]RGHFRQFOXVmR$WpGLDV3URUURJDomR 3RULJXDOSUD]R$UWS~QLFR

352&(662$'0,1,675$7,92',6&,3/,1$56,1',&1&,$7KLDJR6WUDXVV0DUFHOR/HLWH


/HLHP0DSDV0HQWDLVS

DRGRLQGLFLDGR

3$'5LWR

2UGLQiULR

&RQFHLWR

,QVWUXPHQWRGHVWLQDGRDDSXUDUUHVSRQVDELOLGDGHGHVHUYLGRUSRULQIUDomRSUDWLFDGD

,1RH[HUFtFLRGHVXDVDWULEXLo}HV28,,4XHWHQKDUHODomRFRPDVDWULEXLo}HV

GRFDUJRHPTXHVHHQFRQWUHLQYHVWLGR$UW 2EULJDWyULRTXDQGR LOtFLWR

SUDWLFDGR HQVHMDUSHQDOLGDGHGH

, 6XVSHQVmRSRUPDLVGHGLDV

,, 3HQDVH[SXOVLYDV

L 'HPLVVmR

LL &DVVDomRGH $SRVHQWDGRULD'LVSRQLELOLGDGHLLL 'HVWLWXLomRGHFDUJRHPFRPLVVmR

$UW

&RPLVVmR

)RUPDGDSRUVHUYLGRUHVHVWiYHLV

2SUHVLGHQWHGDFRPLVVmRGHYHWHU

,&DUJRHIHWLYRGHPHVPRQtYHORXVXSHULRU28

,,1tYHOGHHVFRODULGDGHLJXDORXVXSHULRU

1mRSRGHUiSDUWLFLSDU GDFRPLVVmR

,&{QMXJHFRPSDQKHLUR,,3DUHQWHGR

DFXVDGR&RQVDQJXtQHRRXDILPHPOLQKDUHWDRXFRODWHUDODWpRJUDX

$UW

)DVHV

, ,QVWDXUDomR 3XEOLFDomRGRDWRTXHFRQVWLWXLUDFRPLVVmR

,, ,QTXpULWRDGPLQLVWUDWLYR L ,QVWUXomR

%XVFDHOHPHQWRVSDUDDPSDUDUDIRUPDomRGHFRQYLFomRGDFRPLVVmRHGDDXWRULGDGHMXOJDGRUD2EMHWLYDDFROHWDGHSURYDVOWLPRDWRGDLQVWUXomR ,1',&,$d2

LL 'HIHVDLLL 5HODWyULR

,,, -XOJDPHQWR

$UW

9HU0DSD0HQWDO)DVHVGR3$'5LWR2UGLQiULR

3UD]RV&RQFOXVmR

1mRH[FHGHUiGLDV &RQWDGRVGDSXEOLFDomRGRDWRFRQVWLWXWLYRGDFRPLVVmR3URUURJiYHOSRULJXDOSHUtRGR

$UW

-XOJDPHQWR GLDV&RQWDGRVGRUHFHELPHQWRGRSURFHVVR

$UW

&RQWUDGLWyULRHDPSODGHIHVD

Mapa Mental - Regime Juridico

Documents

Transcript of Mapa Mental - Regime Juridico

136230878 Alessandra Gotti 2012 Direitos Sociais Fundamentos Regime Juridico Implementacao e Afericao de Resultados Epub

LEI 5810 94- Regime Juridico Único

REGIME JURIDICO LEI MUNICIPAL Nº 135/92

Apresentação do PowerPoint - AGNagnatural.pt/documentos/ver/alteracao-do-regime-juridico-do... · 7 Como consequência da aprovação deste novo regime das instalações de gases

070509 145728 Lei n 171 Regime Juridico Dos Servidores P Blicos

Regime Juridico Pag 48

Lei n.º 169_99, de 18 de Setembro - Autarquias Locais_Competencias e Regime Juridico

Lc nº 03, de 17.10.2007 regime juridico único

[7291 - 20797]02 Regime Juridico Das Sociedades

Regime Juridico Unico de Santarem

curso de regime juridico unico

L 8112-90 Regime Juridico Servidores Uniao

Regime juridico dos_servidores_publicos_do_municipio_de_planaltina_go_–_lei_municipal_n_50099_de_23_de_junho_de_1999

Apresentação regime juridico e função pública final

Regime Juridico - atualizado ate 13 de setembro de 2013

Apostila INSS - Regime Juridico

Texto Final Novo Regime Juridico Ourivesaria

REGIME JURIDICO SERV PUB CIVIS PA Lei Estadual nº 5810 94

LC Nº 01- REGIME JURIDICO UNICO - 15.03

Regime juridico unico