O Sistema Bancário Moçambicano: Efeitos da Reestruturação Bancária na sua competitividade e...

7/21/2019 O Sistema Bancário Moçambicano: Efeitos da Reestruturação Bancária na sua competitividade e eficiência

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RH ‒ Rer~oml$Rob~dx hlfbìxed

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X_ ‒ Xoefd _fend

O_L ‒ Or~lndr _fendr no Lmåxebl

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HB ‒ Hlfbd Bof~xla

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ÍfneboE& Ef~xdnuçâd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <3

<&8 Noaeme~lçâd nd ^oml &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <<

<&2& Dhiob~ezdr&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <<<&>& Iur~ejebl~ezd&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <<

<&?& Sxdhaoml no Or~und &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <8

<&:& @esò~oror &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <8

<&7& Mo~dndadgel&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <8

<&0& Salfd no ^xlhla`d&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <8

EE& Xozerâd nl Ae~oxl~uxl &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <>

8&< Bdfboe~dr o Blxlb~oxeylçâd nd Rer~oml Jeflfboexd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <>

8&<&< L Ef~oxmonelçâd Jeflfboexl&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <7

8&8 Moxblnd Hlfbìxed &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <0

8&8&< Jufçÿor ndr Hlfbdr Bdmoxbeler &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <0

8&8&8 Lr bxeror hlfbìxelr&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <5

8&8&8&<& Op~oxflaenlnor nlr Bxeror Hlfbìxelr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 83

8&2 Xoor~xu~uxlçâd Hlfbìxel &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 8<

8&2&8 Opsoxeéfbelr no Xoor~xu~uxlçÿor Hlfbìxelr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 88

L& Xoor~xu~uxlçâd nd Rer~oml Hlfbìxed Sxezlnd Hxlreaoexd&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 82 H& Xoor~xu~uxlçâd Hlfbìxel fd Blyl|uer~âd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 8?

EEE& D Rer~oml Jeflfboexd Mdçlmheblfd&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 87

2&< Mdçlmhe|uo ‒ Bdf~op~d @er~òxebd&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 87

2&<&< D Sxdgxlml no Xolheae~lçâd Obdfòmebl (SXO% &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 85

2&<&8 D soxídnd bdmsxoofnend of~xo <558 ã 8333 &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 85

2&<&2 L Or~xu~uxl Lb~ula &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 23

EZ& Lfìaero ndr Ojoe~dr nl Xoor~xu~uxlçâd nd Rer~oml Hlfbìxed Mdçlmheblfd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 28

>&< Lzlaelçâd nl Soxjdxmlfbo nd rob~dx hlfbìxed lsòr l xoor~xu~uxlçâd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 28

>&<&< Bxe~åxedr no ojebeéfbel &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 22

>&<&8 D rer~oml Hlfbìxed Mdçlmheblfd o l djox~l no bxåne~d &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 2?

>&<&8&< Rsxolnr Hlfbìxedr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 20

>&<&2 \ulaenlno nl Blx~oexl no Bxåne~d&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 25

>&<&> Bdfbof~xlçâd Hlfbìxel&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >3

>&8& Bdfbaurÿor ndr ojoe~dr nl Xoor~xu~uxlçâd Hlfbìxel&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& ><

Z& Bdfbaurÿor o Xobdmofnlçÿor &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >7

?&< Bdfbaurÿor&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >7

?&8 Xobdmofnlçÿor &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& ?3





ZE& Jeb`l Hehaedgxìjebl &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& ?<

ZEE& Lfopdr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& ?>

Ífnebo no ^lhoalr! Gxìjebdr o Jeguxlr

^lhoal < ‒ ^esdr no rer~omlr Jeflfboexdr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <:

^lhoal 8 ‒ Soxbof~ula nl aubxl~ezenlno ndr hlfbdr bdmoxbeler hxlreaoexdr <55> ‒ 8332% &&&&&&&&&&&&&&&& 8>

^lhoal 2 ‒ Efneblndxor no Soxjdxmlfbo &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 22

^lhoal > ‒ Dsoxlndxor Jeflfboexdr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >3

^lhoal ? ‒ Ner~xehueçâd no lgéfbelr sdx sxdzífbelr &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& ><

Jeguxl <9 D sxdborrd no ef~oxmonelçâd jeflfboexl &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& <7

Gxìjebd < - Ozdauçâd nd fùmoxd no hlfbdr om Mdçlmhe|uo &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 2<

Gxìjebd 8 ‒ Ozdauçâd ndr aubxdr aí|uendr <555-833:% &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 2>

Gxìjebd 2 ‒ Ozdauçâd nl Djox~l no bxåne~d om Mdçlmhe|uo 8333-833:% &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 2?

Gxìjebd > ‒ Bdmslxlçâd of~xo l ozdauçâd nl djox~l no bxåne~d o ndr aubxdr aí|uendr fd rob~dx

hlfbìxed mdçlmheblfd &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 27

Gxìjebd ? ‒ Ozdauçâd nd rsxoln no iuxdr nd rob~dx hlfbìxed &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 20

Gxìjebd : ‒ Ozdauçâd nd xìbed no lzlaelçâd nl |ulaenlno nl blx~oexl no bxåne~d &&&&&&&&&&&&&&&&&&&&&&&&&&&&&& 25

Gxìjebd 7 ‒ Xoalçâd of~xo d xìbed no ^xlfrjdxmlçâd o d bxorbemof~d ndr Rsxolnr &&&&&&&&&&&&&&&&&&&&&&&&&& >2

Gxìjebd 0 ‒ Xoalçâd of~xo l ozdauçâd ndr rsxolnr no iuxdr o |ulaenlno nl blx~oexl no bxåne~d &&&&&&&&& >>

Gxìjebd 5 ‒ Bdmslxlçâd of~xo l ozdauçâd ndr rsxolnr o nd bur~dr bdm sxdzerÿor &&&&&&&&&&&&&&&&&&&&&&&&&& >?

Gxìjebd <3 ‒ Ozdauçâd nl rdazlheaenlno &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >:




Rdxll Rlxl` Jlkex Bdrbedfo <3

E& Ef~xdnuçâd

Remsaor du bdmsaopdr! dr rer~omlr jeflfboexdr soxjdxmlm l lb~ezenlno hìrebl no mdzox dr

xobuxrdr ndr lgof~or |uo sduslm o djox~lm ~omsdxlxelmof~o lgof~or rusoxlze~ìxedr% slxl dr

lgof~or |uo |uoxom ~dmlx omsxor~lnd o efzor~ex lgof~or nojebe~ìxedr%& D jufbedflmof~d nlr

obdfdmelr mdnoxflr xo|uox romsxo mledxor efzor~emof~dr o sdx errd lr omsxorlr sxoberlm no uml

mledx foborrenlno no blse~ler |uo l sduslfçl nlr jlmíaelr jdxfobo l~xlzår ndr moxblndr jeflfboexdr&

Dr rer~omlr jeflfboexdr fufbl râd or~ì~ebdr& Or~or munlm bdfr~lf~omof~o! no mdnd l xorsdfnox

l sxdbuxl nd sùhaebd! ld norofzdazemof~d no fdzlr ~obfdadgelr! o lr munlfçlr flr aoer o

xogualmof~lçÿor& L bdmso~eçâd fdr moxblndr jeflfboexdr jdxçl dr rer~omlr jeflfboexdr l xorsdfnox

ãr foborrenlnor nd sùhaebd norofzdazofnd moa`dxor o mler bdfzofeof~or roxzeçdr jeflfboexdr&

D rer~oml jeflfboexd mdçlmheblfd slrrdu sdx gxlfnor ~xlfrjdxmlçÿor ld adfgd nl `er~òxel nd

slír& Jlb~dxor bdmd d lhlfndfd nl obdfdmel rdbelaer~l slxl l obdfdmel no moxblnd! om <507! o lr

bxeror hlfbìxelr fd soxídnd no 8333-833<! ~xdupoxlm l foborrenlno no uml lnls~lçâd xìsenl no

mdnd l oze~lx d bdalsrd nd rer~oml jeflfboexd&

L sxemoexl gxlfno xojdxml nobdxxo om <558! |ulfnd ro nì l roslxlçâd nlr jufçÿor no Hlfbd

bdmoxbela o bof~xla fd Hlfbd no Mdçlmhe|uo! o uml sxemoexl ~of~l~ezl no aehoxlaeylçâd ndr

moxblndr jeflfboexdr& D Hlfbd no Mdçlmhe|uo slrrdu l opoxbox opbaurezlmof~o lr lb~ezenlnor

xojoxof~or l Hlfbd Bof~xla! rofnd |uo ~dnlr lr lb~ezenlnor no hlfbd bdmoxbela jdxlm ~xlfrjoxenlr

slxl d xobåm jdxmlnd Hlfbd Bdmoxbela no Mdçlmhe|uo HBM%& Bdm d dhiob~ezd no lhxex d

moxblnd hlfbìxed l efzor~emof~dr or~xlfgoexdr! efebedu-ro d sxdborrd nd rlfolmof~d nlr blx~oexlr

no bxåne~d fdr hlfbdr bdmoxbeler&

Lsòr l gxlzo bxero hlfbìxel no 8333 |uo lhladu d rer~oml jeflfboexd mdçlmheblfd! builr blurlr

ro ofbdf~xlm fd oaozlnd zdaumo no bxåne~d mla slxlnd fdr nder sxefbesler hlfbdr bdmoxbeler ‒

Hlfbd Lur~xla o HBM - nobdxxof~o nd jxlbd bdf~xdad fl bdfborrâd no omsxår~emdr! fd xunemof~lx

rer~oml no slglmof~dr! o fd efojebeof~o rer~oml no rusoxzerâd hlfbìxel! lr lu~dxenlnor xorsdfrìzoerjdxlm dhxeglnlr l ef~oxzex no mdnd l oze~lx uml gxlzo bxero jeflfboexl& D gdzoxfd rlfodu slx~o nlr

nízenlr ndr hlfbdr! o jeflamof~o ofbdf~xdu efzor~endxor hlfbìxedr or~xlfgoexdr ef~oxorrlndr fuml

lb~ezenlno ojebeof~o ndr hlfbdr bdmoxbeler om |uor~âd&

Bdf~omsdxlfolmof~o `duzo om <557! d efgxorrd no fdzdr efzor~endxor lu~dxeylndr fd moxblnd

hlfbìxed |uo ro ~xlnuyeu fl lhox~uxl no uml fdzl lgéfbel hlfbìxel! fdmolnlmof~o d Hlfbd

Bdmoxbela no Efzor~emof~dr HBE%! buid lbbedfer~l mledxe~ìxed oxl d Gxusd Blepl Goxla no

Nosòre~dr no Sdx~ugla& Om 8332! nlnl l uml jurâd sdx efbdxsdxlçâd nd Gxusd HSE! om Sdx~ugla!or~o ~xlfrjdxml-ro om HBE Jdmof~d&




Rdxll Rlxl` Jlkex Bdrbedfo <<

<&8 Noaeme~lçâd nd ôml

l% ômsdxla L bdmsaopenlno nlr munlfçlr nd rer~oml jeflfboexd mdçlmheblfd! aozlm l emsdx noaeme~lçÿor

ldr lbdf~obemof~dr dbdxxendr l|ulfndnl bxero hlfbìxel no 8333 o l bdfro|uof~o xoor~xu~uxlçâd ndrob~dx om 833< l~å ld lfd no 833:&

h% Orslbela D ~xlhla`d lhdxnlxì dr lrsob~dr dbdxxendr nof~xd nd rer~oml jeflfboexd mdçlmheblfd!

bdfbof~xlfnd-ro rdhxo lr lb~ezenlnor ndr hlfbdr bdmoxbeler nd slír&

<&2& Dhiob~ezdr

l% Dhiob~ezd Goxla

Lflaerlx dr ojoe~dr nl xoor~xu~uxlçâd hlfbìxel fl ojebeéfbel o bdmso~e~ezenlno fdr hlfbdr

bdmoxbeler om Mdçlmhe|uo;

h% Dhiob~ezdr Orsobíjebdr

Norbxozox d sxdborrd no xojdxml nd rob~dx;

Lflaerlx d emslb~d nl xoor~xu~uxlçâd rdhxo l rdaenoy ndr hlfbdr bdmoxbeler om Mdçlmhe|uo;

Lzlaelx l soxjdxmlfbo nd rer~oml hlfbìxed mdçlmheblfd&

<&>& Iur~ejebl~ezd

_ml obdfdmel rom d rob~dx jeflfboexd ojebeof~o ~oxì mue~lr nejebuanlnor l bxorbox& Laeìr!

rogufnd lagufr obdfdmer~lr! l jxl|uoyl nd rob~dx jeflfboexd å uml nlr blurlr nd jxlbd noromsof`d

nlr obdfdmelr ndr slíror om zelr no norofzdazemof~d MlbKeffdf%& Mdçlmhe|uo bdmd l mledxel

ndr slíror om zelr no norofzdazemof~d ~om d rer~oml jeflfboexd sdubd norofzdazend! sdubdr

dsoxlndxor o efr~xumof~dr jeflfboexdr slxl rusdx~lx l lb~ezenlno obdfòmebl&Dr dsoxlndxor jeflfboexdr sxefbesler! fd rer~oml jeflfboexd mdçlmheblfd! râd dr hlfbdr

bdmoxbeler o sdx~lf~d l or~lheaenlno nor~o rer~oml nosofno bxubelamof~o nd jufbedflmof~d ojebeof~o

o ojebly ndr hlfbdr bdmoxbeler& Lr bxeror nd slrrlnd nomdfr~xlxlm |uo l efojebeéfbel no um hlfbd

bdmoxbela sdno lmolçlx l or~lheaenlno nd rer~oml jeflfboexd&

L lfìaero nd norofzdazemof~d nd rer~oml jeflfboexd mdçlmheblfd! l rul èr~òxel o dr sxdhaomlr

|uo nobdxxoxlm râd d dhiob~ezd nor~o ~xlhla`d! sder å l~xlzår nd or~und ndr oxxdr o nlr jxl|uoylr

|uo å sdrrízoa noaefolx um rer~oml jeflfboexd ojebeof~o o ojebly! o bdmsl~ízoa bdm d fízoa no

norofzdazemof~d obdfòmebd nd sler&





<&?& Sxdhaoml no Or~und

Or~o or~und mdr~xl! bdm hlro fl efjdxmlçâd nersdfeheaeylnl! d norofzdazemof~d nd rer~oml

hlfbìxed mdçlmheblfd! hurblfnd lrrem bdf~op~ulaeylx dr sxefbesler jlb~dr dbdxxendr fd soxídnd

xobof~o o oplmeflx lr rulr lb~uler soxrsob~ezlr&‑ \uler dr ojoe~dr nl xoor~xu~uxlçâd Hlfbìxel fd rer~oml hlfbìxed! hom bdmd fd

norofzdazemof~d nd rer~oml jeflfboexd om Mdçlmhe|uo”

<&:& @esò~oror

@39 Lr xojdxmlr jeflfboexlr lsaeblnlr fd slír no mdnd l lno|ulx-ro ld norofzdazemof~d

obdfòmebd ~ezoxlm um emslb~d fogl~ezd du fuad! ~lf~d fd RH flbedfla bdmd fd RJ mdçlmheblfd;

@<9 Lr xojdxmlr jeflfboexlr jdxlm hom rubonenlr! nomdfr~xlfnd l blslbenlno nd RJM slxl

lno|ulx-ro ãr fdzlr opegéfbelr nd moxblnd

<&7& Mo~dndadgel

L mo~dndadgel omsxoguo for~o ~xlhla`d! no lbdxnd bdm dr sxdbonemof~dr ~åbfebdr omsxoguor!

norofzdazou-ro om nulr jlror& L sxemoexl jlro hlrodu-ro ruhr~lfbelamof~o fl xobda`l no

efjdxmlçÿor hehaedgxìjeblr orbxe~lr sor|uerl hehaedgxìjebl%! o xolaeylçâd no of~xozer~lr sor|uerl

slx~ebeslf~o%! xojoxof~or l èr~òxel nl bxero hlfbìxel no Mdçlmhe|uo! hom bdmd uml xozerâd nl

ae~oxl~uxl rdhxo l xoaozèfbel nd rer~oml jeflfboexd fd norofzdazemof~d obdfòmebd&Fl rogufnl jlro jdxlm xobdaèndr nlndr ndr efneblndxor sor|uerl ndbumof~la% nl lb~ezenlno

hlfbìxel slxl lflaerlx o lzlaelx d bdmsdx~lmof~d ndr hlfbdr bdmoxbeler lf~or o nosder nd sxdborrd

no xoor~xu~uxlçâd! o rur~of~lx uml nlr nulr èsò~oror xojoxenlr lf~oxedxmof~o&

Nd sdf~d no zer~l nl lhdxnlgom sdno-ro balrrejeblx l sor|uerl bdmd rofnd \ulae~l~ezl! o no

lbdxnd bdm dr dhiob~ezdr bdmd rofnd Norbxe~ezl&

Fd |uo ro xojoxo ldr mo~òndr beof~íjebdr omsxoguor sdno-ro balrrejeblx bdmd Mo~ònd

Jofdmofdaògebd! dfno l sxefbesla sxodbuslçâd å l norbxeçâd nexob~l nl opsoxeéfbel ~la bdmd oal å&

<&0& Salfd no ^xlhla`d

D ~xlhla`d or~ì or~xu~uxlnd om befbd blsí~uadr buid bdf~oùnd ofbdf~xl-ro ner~xehuínd om

bdfjdxmenlno bdm l norbxeçâd |uo ro roguo&

Fd sxemoexd blsí~uad lsxorof~l-ro l ef~xdnuçâd nd ~xlhla`d! |uo efbaue uml lsxorof~lçâd o

opsdreçâd nd ~oml&

Fd rogufnd blsí~uad nonebl-ro l xozerâd nl ae~oxl~uxl! rofnd |uo l|ue râd lhdxnlndr ~dndr dr

lrsob~dr ~oòxebdr bdfrenoxlndr emsdx~lf~or slxl l sdr~oxedx lzlaelçâd&





D ~oxboexd blsí~uad ~xly uml hxozo norbxeçâd nl ozdauçâd nd rer~oml jeflfboexd mdçlmheblfd ‒

nlr rulr dxegofr l~å lr xojdxmlr emsdr~lr! hom bdmd d soxídnd sdr~oxedx&

D |ulx~d blsí~uad lhdxnl d sxdhaoml no or~und! du roil d emslb~d nl xoor~xu~uxlçâd nd rer~oml

hlfbìxed mdçlmheblfd fd norofzdazemof~d nor~o& L lzlaelçâd jly-ro l fízoer no soxjdxmlfbo ndr

hlfbdr! djox~l no bxåne~d&

Fd |uef~d blse~uad râd lsxorof~lnlr lr bdfbaurÿor o lr xobdmofnlçÿor nd ~xlhla`d&




Rdxll Rlxl` Jlkex Bdrbedfo <>

EE& Xozerâd nl Ae~oxl~uxl

8&< Bdfboe~dr o Blxlb~oxeylçâd nd Rer~oml Jeflfboexd

L sxefbesla jufçâd nd rer~oml jeflfboexd å mdzemof~lx dr jufndr omsxor~ìzoer ndr lgof~or |uo

sduslm rusoxlze~ìxedr% slxl dr |uo dh~åm omsxor~lnd nojebe~ìxedr% slxl ln|uexex hofr o$du

roxzeçdr! o xolaeylx efzor~emof~dr slxl |uo l obdfdmel gadhla bxorçl o lumof~o d mdnd no zenl

r~lfnlxn nlr sdsualçÿor& Rom d rer~oml jeflfboexd o dr jufndr omsxor~ìzoer |uo d rusdx~lm! d

bxorbemof~d obdfòmebd roxel mue~d xonuyend o aeme~lnd! o dr hofr ~oxelm no rox ~xlfrlbbedflndr fd

moxblnd ã zer~l o lr jlmíaelr o omsxorlr ~oxelm no ro jeflfbelx l re sxòsxelr&

Lrrem! rogufnd So~ox R& Xdro<

! d Rer~oml Jeflfboexd sdno rox nojefend bdmd rofnd d bdfiuf~d

no efr~e~ueçÿor nl obdfdmel |uo lupeaelm d ofbdf~xd ndr lgof~or |uo sdrruom sduslfçlr -

lgof~or rusoxlze~ìxedr ‒ bdm dr |uo foborre~lm no xobuxrdr - lgof~or nojebe~ìxedr -!buid sxefbesla

dhiob~ezd å soxme~ex d mdzemof~d no jufndr omsxor~ìzoer of~xo oaor&

Ld mdheaeylx dr jufndr ndr lgof~or rusoxlze~ìxedr slxl dr lgof~or nojebe~ìxedr! blflaeylfnd-dr

slxl d rob~dx sxdnu~ezd! d rer~oml jeflfboexd sdrreheae~l l ~xlfrjoxéfbel no xobuxrdr obdfòmebdr fd

~omsd o fd orslçd! laåm jxdf~oexlr o of~xo rob~dxor! jlbeae~lfnd ~lmhåm sdx or~l zel l gor~âd noxerbdr l~xlzår nl nezoxrejeblçâd& Dr xerbdr ruxgom sdx|uo dr lgof~or rusoxlze~ìxedr ~om um

`dxeydf~o no efzor~emof~d mue~d bux~d of|ulf~d |uo lr omsxorlr lgof~or nojebe~ìxedr% ~om um

`dxeydf~o adfgd! lrrem dr ef~oxmoneìxedr jeflfboexdr lrrumefnd slx~o ndr xerbdr nd efzor~emof~d!

~dxflm sdrrízoa l nezoxrejeblçâd&

For~l dxnom no enoelr! d RJ no~oxmefl ~lf~d dr bur~dr no bxåne~d hom bdmd l |ulf~enlno no

bxåne~d |uo or~lxì nersdfízoa& \ulfnd d bur~d nd bxåne~d bxorbo xoger~l-ro um nobxårbemd fl

lb~ezenlno obdfòmebl! ã monenl |uo lr omsxorlr xonuyom l sxdnuçâd& Om bdf~xlr~o! |ulfnd d

bur~d nd bxåne~d nobxorbo! o dr jufndr omsxor~ìzoer jeblm nersdfízoer mler xlsenlmof~o! dr glr~dr

~d~ler fl obdfdmel lumof~lm! mler omsxogdr râd bxelndr o d bxorbemof~d obdfòmebd lboaoxl&

^ofnd om bdf~l or~or lrsob~dr! sdno neyox-ro |uo d RJ å um ndr sealxor nd norofzdazemof~d

obdfòmebd nlr rdbeonlnor o! å d orsoa`d nd norofzdazemof~d obdfòmebd! zer~d |uo d bur~d o l

|ulf~enlno no bxåne~d râd jlb~dxor-b`lzo slxl emsuaredflx d bxorbemof~d obdfòmebd&

< XDRO! So~ox R& ‟Mdfo lfn blse~la Mlxko~r - Jeflfbela Efr~e~u~edfr lfn Efr~xumof~r ef l Gadhla Mlxko~salbo&‚ Ef Mdfo lfn blse~la Mlxko~r - Jeflfbela Efr~e~u~edfr lfn Efr~xumof~r ef l Gadhla Mlxko~salbo! no So~ox R& XDRO! <&MbGxlw-@eaa! 8333&




Rdxll Rlxl` Jlkex Bdrbedfo <?

Slxl blnl efr~xumof~d jeflfboexd oper~o um moxblnd lsxdsxelnd fd rer~oml jeflfboexd! no mdnd

|uo bdfjdxmo dr moblfermdr no jeflfbelmof~d mler ef~ofrezlmof~o u~eaeylndr! sdnomdr

blxlb~oxeylx d rer~oml jeflfboexd no nulr mlfoexlr - Rer~omlr hlrolndr om moxblndr no blse~ler du

Rer~omlr hlrolndr om ef~oxmoneìxedr jeflfboexdr&

Fd sxemoexd blrd lr omsxorlr jeflfbelm dr efzor~emof~dr sxòsxedr nexob~lmof~o! bdm xobuxrdr

ldr moxblndr no blse~ler hdarl no zladxor! o~b&%! ome~efnd ~í~uadr no nízenlr dhxeglçÿor% du ~í~uadr

no sxdsxeonlno lbçÿor%&

Fd rogufnd blrd sxondmefl d jeflfbelmof~d efnexob~d nl lb~ezenlno obdfòmebl nlr omsxorlr

bdm omsxår~emdr hlfbìxedr no adfgd sxlyd& D moxblnd for~o ~esd no rer~oml å blxlb~oxeylnd sdx

uml jdx~o orsobelaeylçâd ndr hlfbdr bdmoxbeler! hom bdmd uml xonuyenl slx~ebeslçâd no

efr~e~ueçÿor jeflfboexlr fâd hlfbìxelr&

D xorumd nlr sxefbesler blxlb~oxír~eblr nor~or rer~omlr or~ì efneblnd fl ^lhoal < lhlepd9




Rdxll Rlxl` Jlkex Bdrbedfo <:

^lhoal < ‒ êsdr no rer~omlr Jeflfboexdr

Rer~oml noMoxblnd no Blse~ler

Rer~oml no Bxåne~dHlfbìxed Sxezlnd

Rer~oml no Bxåne~dHlfbìxed Suhaebd

Jeflfbelmof~d

Nexob~d omerrâd no ~í~uadrnexob~lmof~o iuf~d ld sùhaebdsduslndx

Efnexob~d bls~lçâd nosduslfçl soadr hlfbdr |uo lrlsaeblm rdh l jdxml noomsxår~emdr

Efnexob~d hlfbdr sùhaebdbdfbonom jeflfbelmof~dbdm hlro om sduslfçlbdmsuaròxel du fâd%

Efr~xumof~d ^í~uadr lbçÿor o dhxeglçÿor% Omsxår~emdr Omsxår~emdrFl~uxoyl noEfr~e~ueçâdJeflfboexl

Sxezlnl Sxezlnl Hlfbdr _fezoxrler%Sùhaebl hlfbdr sùhaebdrdxglfeylndr rdh l jdxml nohlfbdr no norofzdazemof~d

Or~xu~uxl ndRer~oml Jeflfboexd

Nezoxrejeblnl o rogmof~lnlomhdxl bdm mledx ~ofnéfbelfd soxídnd xobof~o l

bdfbof~xlçâd

Bdfbof~xlnl sxondmefèfbelndr hlfbdr ufezoxrler nogxlfno sdx~o; sdublr

efr~e~ueçÿor orsobelaeylnlr

Bdfbof~xlnl hlfbdrsùhaebdr no gxlfno sdx~o%

êmefg

Norofzdazemof~d slxlaoad ldsxdborrd no efnur~xelaeylçâd

Norofzdazemof~d slxlaoad ldsxdborrd no efnur~xelaeylçâd!mlr efnuyendr bdmbdmsdx~lmof~dr orsobíjebdr

Norofzdazemof~d xorua~lf~ono um orjdxçd noefnur~xelaeylçâd bdmlfnlndsoad Or~lnd

Opomsadr Xoefd _fend o Or~lndr _fendr Laomlf`l Jxlfçl o Ilsâd

Hlror

Xo|uox d moxblnd robufnìxedno ~í~uadr blsly no nlx ae|uenoyldr ~í~uadr no adfgd sxlydln|uexendr

Noheaenlno nd moxblnd noblse~ler

Noheaenlno nd moxblnd noblse~ler

Xogualmof~lçâd

Zda~lnl slxl l nerbesaefeylçâdnd rer~omlbdfr~e~uíndorsdf~lfolmof~o;Zda~lnl slxl glxlf~ex mledxorfízoer no bdfbdxxéfbel oae|uenoy fd moxblndrobufnìxed

Zda~lnl slxl l efnuçâd ndrer~oml l bdmsdx~lmof~drorsobíjebdr&Zda~lnl slxl l bxelçâd nobdfneçÿor no jeflfbelmof~dslxl d bxorbemof~dobdfòmebd or~emualfnd ljdxmlçâd no bdxsdxlçÿoraenoxlnlr soadr hlfbdr&

Zda~lnl slxl l bxelçâd noum rer~oml no bxåne~dsuhaebd no adfgd sxlyd soadsalfolmof~d or~l~la& Fdblrd ilsdfér! zda~lnl~lmhåm slxl l dxeof~lçâdnd rer~oml slxl ìxolrbdfrenoxlnlr sxedxe~ìxelr

Jdf~o9 Blzlablf~o! 8338%

Dhroxzlfnd lr blxlb~oxír~eblr no blnl ~esd no rer~oml! sdno-ro dhroxzlx |uo blnl slír ozdaueu

slxl nejoxof~or ~esdr no rer~omlr rofnd l blurl sxefbesla dr lbdf~obemof~dr èr~òxebdr o bua~uxler

sxòsxelr& Sdx opomsad! rogufnd Blzlablf~o 8338%! dr O_L ~ém uml èr~òxel jeflfboexl nejoxof~o

no du~xdr slíror efnur~xelaeylndr! fd rof~end |uo romsxo oper~eu uml bua~uxl l jlzdx nl bdmso~eçâd o!

|uo ~omo l bdfbof~xlçâd no sdnox& Or~l bua~uxl aozdu l um norofzdazemof~d nd rer~oml hlfbìxed

ofzeorlnd fd rof~end nl jxlgmof~lçâd |uo xomdf~l ld råbuad PEP&

Om bdfbaurâd! d soxbuxrd nd norofzdazemof~d obdfòmebd efjauofbel hlr~lf~o d ~esd no rer~oml

jeflfboexd lnds~lnd sdx blnl flçâd& O! omhdxl lb~ulamof~o oper~l uml bxorbof~o aehoxlaeylçâd

obdfòmebl |uo zerl ef~ogxlx dr rer~omlr jeflfboexdr mufneler! nozend l gadhlaeylçâd! blnl slír





nozo lnds~lx um ~esd no rer~oml jeflfboexd lno|ulnd ld rou norofzdazemof~d! o mdanlnd no lbdxnd

bdm lr rulr opsoxeéfbelr&

8&<&< L Ef~oxmonelçâd Jeflfboexl

Lr emsoxjoeçÿor fdr moxblndr 8 ~dxflxelm lr ~xdblr of~xo dr lgof~or rusoxlze~ìxedr lgof~or

obdfòmebdr |uo nersdfeheaeylm lr rulr sduslfçlr slxl d efzor~emof~d! fl opsob~l~ezl no dh~oxom

xo~dxfdr sdre~ezdr% o lgof~or nojebe~ìxedr lgof~or |uo jlyom urd ndr xobuxrdr djoxobendr soadr

lgof~or rusoxlze~ìxedr om efzor~emof~dr%! fd blrd no bdf~lb~d nexob~d! mler dfoxdrl! sdnofnd

mormd b`oglx l efzelheaeyì-alr&

Dr ‟ef~oxmoneìxedr jeflfboexdr‚ ruxgom! of~âd! bdmd um moblfermd slxl mefemeylx ~ler

emsoxjoeçÿor soxme~efnd ladblx moa`dx dr xobuxrdr! ld ojob~ulx l sdf~o of~xo dr nder lgof~or& Ldbdfbof~xlx dr xobuxrdr ndr lgof~or rusoxlze~ìxedr! dr ef~oxmoneìxedr jeflfboexdr zelheaeylm l

lmsaelçâd nlr orblalr no sxdnuçâd! jeflfbelfnd efzor~emof~dr no mledx zua~d& Dr ef~oxmoneìxedr

soxme~om ~lmhåm xonuyex d emslb~d no nder gxlfnor sxdhaomlr |uo nobdxxom nd bdf~lb~d nexob~d

of~xo dr lgof~or ‒ dr bur~dr no ~xlfrlbçâd o dr bur~dr no efjdxmlçâd& D sxemoexd! å mefemeylnd

gxlçlr l orsobelaeylçâd ndr ef~oxmoneìxedr! |uo l~xlzår ndr glf`dr nlr obdfdmelr no orblal!

xonuyom dr bur~dr& Fd |uo ro xojoxo ld rogufnd sxdhaoml! or~o ney xorsoe~d ldr bur~dr no lrremo~xel

no efjdxmlçâd! |uo ~xly nder sxdhaomlr ner~ef~dr ‒ roaobçâd lnzoxrl o xerbd mdxla& Dref~oxmoneìxedr jeflfboexdr sdnom lmofeylx dr sxdhaomlr blurlndr soal efjdxmlçâd lrremå~xebl!

uml zoy |uo or~âd moa`dx o|ueslndr slxl ner~efguex dr bxåne~dr hdfr o dr bxåne~dr nuzendrdr& Or~or

soxme~om lefnl bdfbeaelx dr `dxeydf~or ~omsdxler ner~ef~dr of~xo dr nder lgof~or! er~d sdx|uo dr

lgof~or sduslndxor fâd ladblm dr rour xobuxrdr bdm um `dxeydf~o no adfgd sxlyd! mlr dr lgof~or

~dmlndxor no omsxår~emdr fdxmlamof~o omsxorlr% ~dmlm omsxår~emdr zerlfnd um slglmof~d l

adfgd sxlyd! d |uo ~xlxel um norofbdf~xd fd |uo ro xojoxo l ladblçâd ~omsdxla ndr xobuxrdr&

Jeguxl <9 D sxdborrd no ef~oxmonelçâd jeflfboexl

Jdf~o9 Oalhdxlçâd sxòsxel hlrolnd flr lualr nl G2< no Rer~omlr o Moxblndr Jeflfboexdr

8 Jla`lr fd blfla no ~xlfrmerrâd no efjdxmlçâd o ner~lfbelmof~d nd moxblnd bdmso~e~ezd

Ef~oxmoneìxedrJeflfboexdr

Lgof~orRusoxlze~ìxedr

Lgof~orNojebe~ìxedrDjox~l Nomlfnl





8&8 Moxblnd Hlfbìxed

D rer~oml jeflfboexd å bdmsdr~d sdx zìxedr ef~oxmoneìxedr! bdf~und gxlfno slx~o nl ae~oxl~uxl nl

ìxol lsxorof~l uml box~l ~ofnéfbel om bdadblx dr hlfbdr bdmoxbeler bdmd rofnd dr xosxorof~lf~or

aogí~emdr nd rer~oml jeflfboexd& Lr efr~e~ueçÿor hlfbìxelr djoxobom ld sùhaebd ~lf~d roxzeçdr no

nosòre~d bdmd no bxåne~d! lrrem bdmd uml aer~l blnl zoy mler bxorbof~o o efdzl~ezl ndr roxzeçdr

jeflfboexdr&

L emsdx~èfbel ndr hlfbdr bdmoxbeler sdno rox l~xehuínl ld jlb~d nor~lr soxmlfoboxom bdmd d

sxefbesla moed no ojob~ulx slglmof~dr! l~xlzår nl zoxejeblçâd no bdf~lr nomlfnl no nosòre~dr%!

blx~ÿor no bxåne~d! o du~xdr& Du~xd jlb~dx |uo lbof~ul l rul emsdx~èfbel å l rul `lheaenlno slxl bxelx

mdonl ‒ Mdonl Hlfbìxel ‒ l~xlzår nd opborrd nlr xoroxzlr |uo rdhxlm ndr nosòre~dr nd sùhaebd&

Dr hlfbdr râd d blfla sxefbesla slxl ~xlfrmerrâd nlr sdaí~eblr mdfo~ìxelr& Sdx dbuslxom uml

sdreçâd b`lzo fdr rer~omlr no slglmof~d o bxåne~d nlr obdfdmelr blse~laer~lr o roxom efr~e~ueçÿor

bdm jefr aubxl~ezdr! or~lr nozom or~lx romsxo ruhmo~enlr ld bdf~xdad nd Or~lnd sdx zel no uml

xogualmof~lçâd ojebeof~o& Dr hlfbdr bof~xler emsaomof~lm sdaí~eblr no mdnd l ljob~lx lr ~lplr no

iuxd o l |ulf~enlno no bxåne~d nersdfízoa fl obdfdmel! la~oxlfnd sxefbeslamof~o d fízoa o d

bxorbemof~d nlr xoroxzlr no~enlr soadr hlfbdr o du~xlr efr~e~ueçÿor nosdre~ìxelr&

Lb~ulamof~o! dr hlfbdr bdmoxbeler râd l sxefbesla jdf~o no bxåne~d slxl bdfrumd slxl

efnezenuler o jlmíaelr%! o uml emsdx~lf~o jdf~o no omsxår~emdr l so|uoflr o månelr omsxorlr&

8&8&< Jufçÿor ndr Hlfbdr Bdmoxbeler

‑ Hlfbdr râd lgof~or no sxdnuçâd efnexob~l |uo dsoxlm fd moxblnd no bxåne~d norofzdazofnd

uml lb~ezenlno no ef~oxmonelçâd bdfiuf~lmof~o bdm l sxor~lçâd no fumoxdrdr roxzeçdr nezoxrdr&”

(Fogxe! <50>%&

Dr hlfbdr lgom sxefbeslamof~o fd moxblnd mdfo~ìxed! er~d å! fd blmsd nlr fogdbelçÿor no

blse~ler l bux~d sxlyd& Fd of~lf~d! om lagumlr robçÿor nor~o ~lmhåm dsoxlm fdr moxblndr no

blse~ler! du roil! fd blmsd no fogdbelçÿor no måned du adfgd sxlyd&

Fd |uo ro xojoxo lr jufçÿor! d lu~dx om |uor~âd ref~o~eyl om obdfòmeblr lr roguef~or jufçÿor9

Bxåne~d - l sxefbesla lb~ezenlno ndr hlfbdr& Or~or xobohom rer~oml~eblmof~o nosòre~dr o

bdfbonom bxåne~d! or~emualfnd l jdxmlçâd no sduslfçlr o blse~la! blflaeylfnd-lr slxl dr lgof~or





nojebe~ìxedr& ‟Bxåne~d bdfrer~o fum moblfermd no omsxår~emdr no jufndr bdm l sxdmorrl no

slglmof~dr ju~uxdr&” (Xdro! 8333%

Mdfo~ìxelr ‒ or~lr efr~e~ueçÿor bxelxlm moedr no slglmof~dr |uo ofbdf~xlxlm gxlfno

nejurâd fd bdmåxbed! aozlfnd l bxelçâd nl b`lmlnl Mdonl Hlfbìxel&

Roxzeçdr Jeflfboexdr ‒ djoxobom ldr rour baeof~or uml glml blnl zoy mler lalxglnl no

roxzeçdr ‟bdmsaomof~lxor‚ o ‟bdal~oxler‚! d sxemoexd no blxìb~ox ~xlnebedflamof~o hlfbìxed o! l

rogufnl nd ~esd slxl hlfbìxed Aolrefg!Lauguox no bdjxor! o~b&%

Rogufnd Fogxe 83339 88% dr hlfbdr noromsof`lm lefnl uml jufçâd rdbela! ld or~emualxom lr

sduslfçlr bdm blmslf`lr no onublçâd o bdfzofbemof~d nexobbedflnlr slxl lr lb~ezenlnor

sxdnu~ezlr no mdnd l jlbeae~lx l opslfrâd nd rer~oml obdfòmebd om goxla& Or~or bdfr~e~uom d sdf~d

no ~xlfrmerrâd nlr sdaí~eblr obdfòmeblr! lnds~lnlr soalr lu~dxenlnor bof~xler& Efzor~om ~lmhåm

om ~í~uadr sùhaebdr! jeflfbelfnd nor~o mdnd lr norsorlr sùhaeblr&

Fd slrrlnd o om mue~lr re~ulçÿor lefnl `dio! dr hlfbdr bdmoxbeler dsoxlzlm om rob~dxor hom

noaeme~lndr ndr moxblndr jeflfboexdr! bxelfnd l ner~efçâd of~xo ef~oxmoneìxedr hlfbìxedr o fâd

hlfbìxedr& Bdm l aehoxlaeylçâd ndr moxblndr jeflfboexdr! um ndr ojoe~dr nl gadhlaeylçâd! mue~dr

hlfbdr bdmoxbeler ofglilxlm-ro flr lb~ezenlnor lf~or noneblnlr ldr ef~oxmoneìxedr fâd hlfbìxedr!

bdmd lr omsxorlr roguxlndxlr! moxblnd no ~í~uadr! o~b&! rofnd lrrem bdfòbenl bdmd l

norsobelaeylçâd ndr ef~oxmoneìxedr jeflfboexdr& Or~o jofòmofd dbdxxo sxefbeslamof~o fdr rer~omlr

jeflfboexdr mler norofzdazendr! mlr ~lmhåm å sxorof~o! lefnl |uo no uml jdxml lefnl ~ímenl! flr

fdr rer~omlr mofdr rdjer~eblndr! bdmd å d blrd nd rer~oml mdçlmheblfd! dfno iì dr hlfbdr

djoxobom sxdnu~dr fâd ~eseblmof~o hlfbìxedr&

8&8&8 Lr bxeror hlfbìxelr

L fl~uxoyl nlr lb~ezenlnor hlfbìxelr o d slsoa |uo å-aò efbumhend no noromsof`lx djoxobo l re

sxòsxel xerbdr efoxof~or ã lb~ezenlno hlfbìxel! rofnd |uo dr hlfbdr fâd nozom rox ~xl~lndr bdmd

lsoflr mler um ~esd no rdbeonlno bdm d dhiob~ezd no aubxd& Sdnom rox lsxorof~lnlr lr roguef~or

xlyÿor slxl mlf~ox l lb~ezenlno hlfbìxel rdhxo bdfr~lf~or zegeaèfbelr9

Slx~ebeslm nl rdhoxlfel mdfo~ìxel nd Or~lnd! fl monenl |uo bxelm nefòexd no bxåne~d o!

xolaeylm roxzeçdr no slglmof~dr;





Râd efr~e~ueçÿor la~lmof~o ofnezenlnlr rdanlnlr fl bdfjelfçl nd sùhaebd! no mdnd |uo l

bxero no um hlfbd sdno ~xlnuyex-ro fuml bxero goxla nd rer~oml jeflfboexd! sdx mler ròaend |uo roil;

D slsoa no ef~oxmonelçâd jeflfboexl |uo noromsof`l å or~xl~ågebd! uml zoy |uo å um

emsuaredflndx nd bxorbemof~d obdfòmebd;

L jlaéfbel no um hlfbd ljob~l d jufbedflmof~d nd rer~oml hlfbìxed! |uo ljob~l l

|ulf~enlno no bxåne~d nersdfízoa o lr ~lplr no iuxdr o bdfro|uof~omof~o! dr efzor~emof~dr o! d fízoa

no lb~ezenlno obdfòmebl

Sdnom sxdzdblx gxlfnor juglr no blse~la o! lgxlzlx sxdhaomlr no hlalfçd no slglmof~dr;

Lr bxeror hlfbìxelr goxlamof~o ro mlfejor~lm bdm um sxdhaoml no ae|uenoy |uo ro sdno

~xlfrjdxmlx fum sxdhaoml no rdazéfbel nd rer~oml hlfbìxed& Sdxåm! lr bxeror hlfbìxelr fâd

nobdxxom rom l bdfiuglçâd ndr jlb~dxor mlbxdobdfòmebdr o mebxd obdfòmebdr fdxmlamof~o l

zuafoxlheaenlno ndr hlfbdr%&

Or~l zuafoxlheaenlno |uo ro bdfiugl bdm jlb~dxor mlbxdobdfòmebdr sdno rox opsaeblnl soad

jlb~d no lr bxeror dbdxxoxom! fdxmlamof~o! fd lugo ndr bebadr obdfòmebdr! iì |uo oper~o um or~xoe~d

zífbuad of~xo dr soxídndr no opslfrâd o! sxonersdreçâd ndr hlfbdr om lrrumex mler xerbdr ‒

opslfnefnd d bxåne~d&

Lrrem rogufnd Bdxlyyl9 ‑Bxero hlfbìxel å um ojoe~d ofnògofd nl bxorbof~o jxlgeaenlno

jeflfboexl |uo ro norofzdazo ld adfgd nl jlro opslfrezl nd bebad obdfòmebd&‚

8&8&8&<& Op~oxflaenlnor nlr Bxeror Hlfbìxelr

Lr bxeror hlfbìxelr ~ofnom l goxlx mledxor op~oxflaenlnor fogl~ezlr slxl d xor~d nl obdfdmel nd

|uo du~xd rob~dx jeflfboexd du sxdnu~ezd& Or~o lrsob~d ner~ef~ezd rdml-ro ã zuafoxlheaenlno hlfbìxelnelf~o no xerbdr rer~åmebdr no ae|uenoy&

Rogufnd D~lzelfd Blfu~d o Geahox~d ^lnou Aeml <5559?% sdnom rox enof~ejeblnlr lr roguef~or

op~oxflaenlnor nlr bxeror hlfbìxelr9

<& D urd no xobuxrdr sùhaebdr slxl xoblse~laeylçâd no hlfbdr om nejebuanlnor! slx~ebualxmof~o

|ulfnd l orblal ndr xorgl~or ua~xlslrrl dr aeme~or or~xe~lmof~o mdfo~ìxedr! om fízoer nd hlalfçd nd

hlfbd bof~xla! o slrrl l opegex lsdx~or dxçlmof~ler nd gdzoxfd&




Rdxll Rlxl` Jlkex Bdrbedfo 8<

8& D bxone~ bxuf`! er~d å d lxxdb`d |ulf~e~l~ezd no bxåne~d o$du lmsaelçâd nlr mlxgofr no

rsxoln 2 of~xo lr ~lplr no bls~lçâd o lsaeblçâd! bxelfnd du lmsaejeblfnd nobaífed fl lb~ezenlno fd

alnd sxdnu~ezd nl obdfdmel& Lr obdfdmelr mler ljob~lnlr râd sxefbeslamof~o lr hlrolnlr fd

bxåne~d hlfbìxed ‒ slx~ebualxmof~o lr omoxgof~or ‒ flr |uler dr hlfbdr râd dr mledxor no~of~dxor

no lb~ezdr jeflfboexdr! jeflfbelm lr lb~ezenlnor jeflfboexlr o fâd jeflfboexlr o! blxxoglm gxlfno

slx~o ndr ~í~uadr nl nízenl sùhaebl&

2& L ef~ofrejeblçâd ndr sxdhaomlr efjdxmlbedfler o nlr rulr bdfro|uéfbelr om ~oxmdr no

roaobçâd lnzoxrl o xerbd mdxla& Nuxlf~o lr bxeror jeflfboexlr! dr sxemoexdr l lboe~lx ~lplr no iuxd

mler la~lr roxâd dr mofdr moxobondxor no bxåne~d! xonuyefnd l |ulaenlno no efzor~emof~dr fl

obdfdmel& Laåm nerrd! d sxòsxed sxdborrd no xorgl~o no hlfbdr sdno xonuyex dr ef~oxorror sxezlndr

fd mdfe~dxlmof~d ju~uxd ndr bdmsdx~lmof~dr ndr hlfbdr&

>& Lr xoalçÿor uruler of~xo dr efr~xumof~dr mdfo~ìxedr o lr mo~lr ef~oxmoneìxelr o jefler nl

sdaí~ebl mdfo~ìxel râd ruhzox~enlr om re~ulçÿor no bxero hlfbìxel! fâd rò fd |uo ney xorsoe~d ã

sxozereheaenlno mífeml orrofbela ã sdaí~ebl mdfo~ìxel! bdmd ~lmhåm fdr aeme~or bdadblndr rdhxo

or~l soalr sdrreheaenlnor no jlaéfbel hlfbìxel& Bdfneçÿor no jxlgeaenlno hlfbìxel emsonom du

aeme~lm d ozof~ula urd no oaozlçâd no ~lplr no iuxd bdmd efr~xumof~d no gor~âd mlbxdobdfòmebl&

?& Flr obdfdmelr omoxgof~or! bxeror hlfbìxelr sdnom emsaeblx juglr no blse~la o sxdhaomlr

ruhro|uof~or no hlalfçd no slglmof~dr&

8&2 Xoor~xu~uxlçâd Hlfbìxel

Xoor~xu~uxlçâd Hlfbìxel regfejebl nlx uml fdzl or~xu~uxl>

ld rer~oml hlfbìxed! no mdnd |uo

sdrrl lnls~lx-ro ãr mu~lçÿor l xoger~lx fd rer~oml hlfbìxed o jeflfboexd&

Lrrem! xoor~xu~uxlçâd regfejebl uml xozerâd flr fdxmlr o sxdbonemof~dr |uo xogualm d

lmheof~o jeflfboexd o hlfbìxed! |uo ro ~xlnuyom fuml munlfçl fd bdmsdx~lmof~d ndr hlfbdr o fl

rul jdxml no bdmso~ex& Om rogufnd auglx! regfejebl ~lmhåm uml mdnoxfeylçâd fl rusoxzerâd

hlfbìxel o lr xogxlr sxunofbeler |uo regfejebl bdf~xdalx l lb~ezenlno hlfbìxel slxl |uo or~l fâd

or~oil l lrrumex xerbdr |uo sdrrlm sdx om xerbd d rer~oml jeflfboexd fl rul ~d~laenlno& Om ~oxboexd!

regfejebl lnds~lx uml bdf~lheaenlno lno|ulnl o ef~oxflbedflamof~o lboe~o dfno d xerbd å jlbeamof~o

2 Rsxoln å l mlxgom lnebedflnl ã ~lpl lsaebìzoa l um bxåne~d! ~í~uad du mdonl& Er~d sdno ofblxobox lefnl mler d bur~dnd bxåne~d bdmoxbela&> L or~xu~uxl efbaue l dxglfeylçâd o nersdreçâd nd rer~oml hlfbìxed fl obdfdmel! hom bdmd nl aogeralçâdxogualmof~lndxl nor~o&





enof~ejeblnd o soxme~l ~dxflx l gor~âd hlfbìxel mler roguxl o om bdfro|uéfbel nomdfr~xlçÿor

jeflfboexlr mler ‟rlunìzoer‚&

No uml jdxml goxla! sdnom rox enof~ejeblnlr nulr sxefbesler blurlr slxl lr xoor~xu~uxlçÿor

hlfbìxelr9

<& Aehoxlaeylçâd Jeflfboexl ‒ l|ulfnd nlr ~xlfrjdxmlçÿor nlr obdfdmelr salfejeblnlr om

obdfdmelr no moxblnd& For~l jlro l sxefbesla sxodbuslçâd å sxezl~eylx lr sxefbesler efr~e~ueçÿor

obdfòmeblr fd moxblnd bdmd hlfbdr bdmoxbeler o omsxorlr! |uo lf~or ro ofbdf~xlzlm rdhxo d

bdf~xdao ~d~la nd Or~lnd& Du~xl sxodbuslçâd å l lhox~uxl nd moxblnd flbedfla slxl l~xlex

efzor~emof~dr no blse~ler or~xlfgoexdr&

8& Lnls~lçâd o Orsobelaeylçâd nl hlfbl ãr bdfneçÿor nd moxblnd ‒ d moxblnd ã fízoa

mufnela fâd å mler or~ì~ebd! or~l ruioe~l l gxlfnor mdnejeblçÿor& L gadhlaeylçâd å um jlb~dx blnl

zoy mler xorsdfrìzoa soalr mu~lçÿor fdr moxblndr! rofnd |uo dr jlb~dxor râd9

l& Norxogualmof~lçâd ndr moxblndr jeflfboexdr;

h& Norofzdazemof~d no fdzlr ~obfdadgelr no efjdxmlçâd Ê%;

b& Bxelçâd bdfr~lf~o no fdzdr efr~xumof~dr jeflfboexd;

L sxemoexl jlro nl xoor~xu~uxlçâd å blurlnl sxefbeslamof~o soal foborrenlno no lnls~lçâd ndr

hlfbdr l bdfro|uof~o lhox~uxl ndr moxblndr flbedfler! o l bxorbof~o bdmso~e~ezenlno fd moxblnd!

nobdxxof~o no fdzdr efzor~emof~dr or~xlfgoexdr& Sdx rul zoy! l rogufnl å blurlnl soadr ojoe~dr nl

gadhlaeylçâd! dbdxxofnd mue~lr zoyor lsòr lmolçlr no bxeror hlfbìxelr fdr rer~omlr jeflfboexdr!

nomdfr~xlfnd l jxlbl neaegéfbel jlbo ldr jlb~dxor nl gadhlaeylçâd lbeml xojoxendr&

Sdno-ro bdfrenoxlx lefnl uml fdzl jlro! nlnd ld bdfr~lf~o norofzdazemof~d nlr ~obfdadgelr no

Efjdxmlçâd Ê%& Or~or bdf~efulm om bdfr~lf~o norofzdazemof~d! o mue~lr zoyor l lndsçâd no umlfdzl Ê emsaebl l xoor~xu~uxlçâd nd rob~dx! bdm zer~l l lnls~lx-ro ãr opegéfbelr norro fdzd rer~oml&

8&2&8 Opsoxeéfbelr no Xoor~xu~uxlçÿor Hlfbìxelr

L xoor~xu~uxlçâd nd rer~oml hlfbìxed å um orjdxçd bdmsaopd& L efrdazéfbel o l xof~lheaenlno

nogxlnlnl nozom rox xozox~enlr! d lmheof~o xogualndx nozo rox mdnoxfeylnd! o lr efr~e~ueçÿor

rusoxzeredflnlr& Or~or slrrdr râd norof`lndr slxl glxlf~ex |uo dr xor~lf~or hlfbdr mlf~of`lm l

rdaenoy o |ula|uox sdr~oxedx bxero hlfbìxel fâd bdmsxdmo~oxelm l or~lheaenlno ndr rer~omlr





hlfbìxedr& Aeçÿor emsdx~lf~or jdxlm lsxofnenlr l slx~ex no xoor~xu~uxlçÿor hom rubonenlr |uo

jdxlm emsaomof~lnlr ~lf~d sdx slíror norofzdazendr bdmd sdx om zelr no norofzdazemof~d& Roxâd

l|ue lsxorof~lndr nder opomsadr! fdmolnlmof~o xojoxof~or ld blrd nd Hxlrea o Klyl|uer~âd&

L& Xoor~xu~uxlçâd nd Rer~oml Hlfbìxed Sxezlnd Hxlreaoexd

D Hxlrea slrrdu soal opsoxeéfbel nl xoor~xu~uxlçâd hlfbìxel fl nåblnl no 53! lsòr l

emsaomof~lçâd nd Salfd Xola o d ruhro|uof~o bdf~xdao nl efjalçâd! aozlfnd l soxnl sdx slx~o ndr

hlfbdr bdmoxbeler nlr xoboe~lr efjalbedfìxelr! uml nlr jdf~or nl rul xof~lheaenlno&

Rogufnd MDAEFL 833>%! d Salfd Xola ljob~du d jufbedflmof~d ndr hlfbdr fd Hxlrea! |uo ro

zexlm emsoaendr l um xìsend orjdxçd om xoor~xu~uxlçâd ef~oxfl o xodxglfeylçâd nlr rulr lb~ezenlnor&

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EEE& D Rer~oml Jeflfboexd Mdçlmheblfd

2&< Mdçlmhe|uo ‒ Bdf~op~d @er~òxebd

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- Hlfbd Sef~d * Rd~~d Mledx&

D Hlfbd Flbedfla _a~xlmlxefd HF_% ~xlfrjdxmdu-ro om Hlfbd no Mdçlmhe|uo HM% o! d

Efr~e~u~d no Bxåne~d no Mdçlmhe|uo om Hlfbd Sdsualx no Norofzdazemof~d HSN%! rofnd |uo lrxor~lf~or nulr noeplxlm no dsoxlx& Nd soxídnd nl bdadfeylçâd! lsoflr d Hlfbd R~lfnlxn * ^d~~l

fâd rdjxou laguml ef~oxzofçâd&

Nor~o mdnd! l~å <505 l sxefbesla blxlb~oxír~ebl nd rer~oml jeflfboexd mdçlmheblfd oxl d fùmoxd

xonuyend no hlfbdr bdmoxbeler lsoflr ~xér% o! boxbl no 5?/ nd fogòbed hlfbìxed xosxorof~lndr

soadr hlfbdr bdf~xdalndr soad Or~lnd&

Nuxlf~o dr lfdr 03 o sxefbísed ndr lfdr 53! d rer~oml hlfbìxed jufbedflzl |ulro bdmd hxlçd

dsoxl~ezd nd DGO o |ulro ~dnd d bxåne~d nersdfízoa oxl ladblnd om omsxorlr or~l~ler fâd xof~ìzoer&

<< Wekesonel 833<%





Lr ~lplr no iuxd xoler oxlm fogl~ezlr! dr fízoer no sduslfçlr hlepdr o! dr hlfbdr `lzelm

lbumualnd um zdaumo regfejebl~ezd no bxåne~d mlaslxlnd&

2&<&< D Sxdgxlml no Xolheae~lçâd Obdfòmebl (SXO%

Om <503! d slír ~xdbdu l rul mdonl no Orbund slxl Mo~ebla! |uo rdjxou norzladxeylçÿor fd jefla

nl nåblnl soal lnorâd nd slír ld JME& O lefnl fd efebed nor~l nåblnl! `lzel rend alfçlnl l

blmslf`l no noy lfdr! nofdmeflnl no ‟Ze~òxel ld Ruhnorofzdazemof~d‚& Fd of~lf~d! or~l

blmslf`l jde noeplnl no alnd om Ilfoexd no <507 o lnds~lnl d SXO ‒ Sxdgxlml no Xolheae~lçâd

Obdfòmebl ‒ |uo ~ef`l d sxlyd no nuxlçâd 2 lfdr&

Or~o sxdgxlml zerlzl xozox~ox l re~ulçâd! blnl zoy mler nogxlnlf~o nl obdfdmel o! nd

noromsof`d nlr jexmlr&Or~o sxdgxlml ofzdazel lr roguef~or xojdxmlr9

Iuxínebd-Efr~e~ubedfla ‒ no mdnd l aehoxlaeylx o! nezoxrejeblx lr lb~ezenlnor nd rob~dx!

nd mormd mdnd |uo l~xle blse~ler or~xlfgoexdr;

Sdaí~eblr Jeflfboexlr;

Sxezl~eylçâd ndr hlfbdr or~l~ler o! uml mledx lhox~uxl fd rob~dx jeflfboexd&

L emsaomof~lçâd nd SXO nozou-ro sxefbeslamof~o l foborrenlno nl aehoxlaeylçâd nl obdfdmel&

2&<&8 D soxídnd bdmsxoofnend of~xo <558 ã 8333

Om ~oxmdr sdaí~ebdr! or~o soxídnd å blxlb~oxeylnd sxefbeslamof~o soal lrrefl~uxl! ã > no Du~uhxd

no <558! nd Lbdxnd Goxla no Sly! of~xo d Gdzoxfd no Mdçlmhe|uo o l Xoflmd! sxorenendr sdx

Idl|uem Bèrrlfd o Ljdfrd Nàlklml! fl Bdmufenlno no Rlf~'Ogened! Xdml! sdfnd jem l <: lfdr

no guoxxl bezea& Lr sxemoexlr oaoeçÿor! aezxor o nomdbxì~eblr! jdxlm xolaeylnlr om <55>! glf`lr soal

Jxoaemd o sdx Idl|uem Bèrrlfd! |uo ro mlf~ozo bdmd Sxorenof~o nl Xosùhaebl no Mdçlmhe|uo

l~å d lfd no 833>! rofnd sxobonend sdx Lxmlfnd Guohuyl! d lb~ula bòjo no Or~lnd! nd mormd

slx~end&

Nosder no <558! um ndr sxefbesler dhiob~ezdr nd sxdgxlml no xojdxml obdfòmebl nd Gdzoxfd

jde l xordauçâd no nojebeéfbelr o sxdhaomlr fd rob~dx jeflfboexd& Soxme~eu-ro |uo dr hlfbdr

or~xlfgoexdr efzor~errom om Mdçlmhe|uo! lr ~lplr no iuxdr norxogualmof~lnlr&

_ml lzlaelçâd ojob~ulnl soad gdzoxfd fd soxídnd no <50: ã <553 efnebdu |uo d du~su~ no ~dndr

dr rob~dxor nl obdfdmel flbedfla or~lzlm l nobxorbox lsorlx nlr sdaí~eblr ~dmlnlr lf~oxedxmof~o&





Bdmd xorua~lnd ~dmdu-ro l noberâd no xoor~xu~uxlx d rob~dx omsxorlxela o sxezl~eylx lr omsxorlr

or~l~ler&

Om <558! nozend l nejebuanlno om bdfbeaelx lr lb~ezenlnor nezoxgof~or no Hlfbd Bof~xla o

Bdmoxbela! o l foborrenlno nl bxelçâd no um hlfbd bof~xla opsuxglnd nlr jufçÿor bdmoxbeler!

buameflxlm bdm l roslxlçâd nlr lb~ezenlnor no Hlfbd Bdmoxbela o Bof~xla nd HM&

Bdm l aoe <$58! râd roslxlnlr lr jufçÿor nd HM |uo slrrl l noromsof`lx lsoflr l jufçâd no

Hlfbd Bof~xla o xogualndx nd rer~oml jeflfboexd& Jde ~lmhåm bxelnd! for~o èmhe~d um fdzd hlfbd

bdmoxbela ‒ Hlfbd Bdmoxbela no Mdçlmhe|uo! RLXA HBM! RLXA%&Fd jefla ndr lfdr 53!

soxme~eu-ro l of~xlnl no blse~la sxezlnd! l~xlzår nl sxezl~eylçâd nlr slx~ebeslçÿor mledxe~ìxelr ndr

mledxor hlfbdr bdmoxbeler& Om <55:! d HBM jde ln|uexend sdx um gxusd no efzor~endxor

or~xlfgoexdr aenoxlndr soad Gxusd Moaad no Sdx~ugla! om <557 d HSN jde zofnend l uml Hlfbd nl

Mlaìrel o l efzor~endxor mdçlmheblfdr! rofnd |uo or~o la~oxdu l rul noregflçâd slxl Hlfbd

Lur~xla& Ruxgo om <557 ~lmhåm um fdzd hlfbd! d HBE rofnd |uo dr lbbedfer~l oxlm

mledxe~lxelmof~o d Gxusd Blepl Goxla no Nosòre~dr no Sdx~ugla&

Fd jefla nd lfd 8333 uml bxero hlfbìxel emsdx~lf~o l~efgeu d rer~oml hlfbìxed mdçlmheblfd!

rofnd d HBM ‒ Hlfbd Bdmoxbela no Mdçlmhe|uo o d HL ‒ Hlfbd Lur~xla! bdfrenoxlndr

efrdazof~or& No mdnd l oze~lx uml efrdazéfbel bdmsao~l! o um emslb~d bdfrenoxìzoa rdhxo d

rer~oml jeflfboexd mdçlmheblfd! d Gdzoxfd dxglfeydu uml dsoxlçâd no xorgl~o hlea-du~ % bdm um

bur~d oaozlnd9 boxbl no _RO <80 mea`ÿor om 833<! o|uezlaof~o l >/ nd SEH flbedfla& Or~l

dsoxlçâd ~xdupo lagumlr bdfro|uéfbelr slxl l efjalçâd! o ~lmhåm rdhxo d slrrezd nd Or~lnd& D HL

jde sdr~oxedxmof~o zofnend l uml hlfbd rua-ljxeblfd! o d r~dbk no omsxår~emdr

sxdhaomì~ebdr$efrdazof~or jde ~xlfrjoxend slxl uml bdf~l nd ^orduxd& D HBM jde sdr~oxedxmof~o

ln|uexend soad gxusd HEM&

2&<&2 L Or~xu~uxl Lb~ula

Nlnlr lr blxlb~oxír~eblr sxondmeflf~or nd rer~oml jeflfboexd mdçlmheblfd! sdno-ro neyox |uo

or~o å hlrolnd fd mdnoad laomâd ‒ hlrolnd nd bxåne~d hlfbìxed sxezlnd ‒ rofnd |uo! d moxblnd no

blse~ler mdçlmheblfd å lefnl mue~d sdubd norofzdazend& L lhox~uxl nl hdarl no zladxor

mdçlmheblfl rò ro nou om jefler no <555! xorua~lf~o nlr xojdxmlr jeflfboexlr fd slír&

Fâd dhr~lf~o lr mdnejeblçÿor xoger~lnlr fd rob~dx hlfbìxed mdçlmheblfd! or~o å lefnl

bdfrenoxlnd xoal~ezlmof~o so|uofd ‒ oper~om <8 hlfbdr bdmoxbeler! << lgéfbelr bddsoxl~ezlr o! ?0dsoxlndx no mebxd bxåne~d 833:% ‒ lrrem bdmd hlr~lf~o bdfbof~xlnd ‒ l mledx efr~e~ueçâd sdrrue




Rdxll Rlxl` Jlkex Bdrbedfo 2<

>3/ ndr lb~ezdr ~d~ler nl hlfbl; 53/ ndr lb~ezdr o slrrezdr nl hlfbl å sdrruínd sdx lsoflr roer

efr~e~ueçÿor fdmolnlmof~o9 LHB! HL! HBE Jdmof~d! Meaaofeum HEM! HEM o R~lfnlxn Hlfk&

Gxìjebd < - Ozdauçâd nd fùmoxd no hlfbdr om Mdçlmhe|uo

Lnls~lnd no9 Xoal~òxed nd HSE; Fdzomhxd 8337; sg& 22

Slxl laåm nlr blxlb~oxír~eblr lbeml xojoxenlr! d rer~oml hlfbìxed å lefnl godgxljeblmof~o sdubd

nersoxrd! zer~d |uo mo~lnor nlr lgéfbelr lhox~lr ld sùhaebd or~âd re~ulnlr fl sxdzífbel du benlno noMlsu~d& Boxbl no 03/ nd ~oxxe~òxed flbedfla fâd nersÿo no |ula|uox lgéfbel hlfbìxel!

nomdfr~xlfnd l jxlbl hlfblxeylçâd nd slír& _ml sor|uerl ojob~ulnl! enof~ejebdu bdmd dr sxefbesler

bdfr~xlfgemof~dr slxl l opslfrâd nl xono hlfbìxel9

l% Luréfbel no efjxl-or~xu~uxlr or~xlnlr! xonor no bdmufeblçÿor! o oaob~xebenlno%

h% Oaozlndr bur~dr dsoxlbedfler o no efzor~emof~d fl jlro no lxxlf|uo;

b% Obdfdmel xuxla no nemofrâd xonuyenl;

n% Jla~l no rubuxrler nd HM;

o% Mâd-no-dhxl rom d soxjea opegend&

Fd of~lf~d! å no ro rlaeof~lx |uo nlnd d xobdf`obemof~d nlr lu~dxenlnor mdçlmheblflr rdhxo d

slsoa nl hlfbl o roxzeçdr jeflfboexdr! ~lf~d slxl d bxorbemof~d obdfòmebd hom bdmd slxl l

sxdmdçâd nd omsxogd! oper~o um orjdxçd ruhr~lfbela om lalxglx l xono no hlabÿor nd HM slxl laåm

nlr sxefbesler benlnor mdçlmheblflr! bdm ofjd|uo flr xogeÿor bof~xd o fdx~o nd slír! no mdnd l

efbof~ezlx d efzor~emof~d hlfbìxed flr ydflr xuxler&





EZ& Lfìaero ndr Ojoe~dr nl Xoor~xu~uxlçâd nd Rer~oml Hlfbìxed Mdçlmheblfd

L lzlaelçâd ndr ojoe~dr nl xoor~xu~uxlçâd nd rob~dx hlfbìxed mdçlmheblfd xo|uox |uo roil

aozlnd om bdfrenoxlçâd l nusal nemofrâd nlr efr~e~ueçÿor hlfbìxelr fuml obdfdmel blse~laer~l&

Sdx um alnd! dr hlfbdr râd lgof~or obdfòmebdr ruhmo~endr l aògebl nl zladxeylçâd nl xe|uoyl

fum mufnd bdm um lmheof~o no efbox~oyl! o fd |ula lr noberÿor râd exxozoxrízoer& Bdmslx~ea`lm d

dhiob~ezd bdmum no |ula|uox lgof~o obdfòmebd blse~laer~l ‒ aubxd ‒ rofnd |uo nor~o mdnd!

lsxorof~lm uml sxojoxéfbel soal ae|uenoy o opsob~l~ezlr slxl d ju~uxd fdx~olfnd lr rulr or~xl~ågelr

no zladxeylçâd&

Sdx du~xd alnd! dr hlfbdr noromsof`lm um slsoa or~xl~ågebd fl obdfdmel nozend ld sxdborrd

no bxelçâd nl mdonl no bxåne~d! hom bdmd soad rou slsoa fl sxdmdçâd nd efzor~emof~d&

Lrrem! l lzlaelçâd nl soxjdxmlfbo nd rer~oml hlfbìxed mdçlmheblfd lsòr l xoor~xu~uxlçâd

hlfbìxel! nozoxì bdfrenoxlx l rul nusal nemofrâd9 sdx um alnd d noromsof`d nd rob~dx bdmd

xojaopd nl rul xof~lheaenlno! hom bdmd nl rul ozdauçâd; sdx du~xd! d emslb~d nl xoor~xu~uxlçâd

rdhxo d noromsof`d nd rou slsoa mler emsdx~lf~o ‒ d jdxfobemof~d nd bxåne~d ldr lgof~or

obdfòmebdr ‒ hom bdmd nl ozdauçâd nd xerbd nd bxåne~d fd slír&

>&< Lzlaelçâd nl Soxjdxmlfbo nd rob~dx hlfbìxed lsòr l xoor~xu~uxlçâdL lzlaelçâd nl soxjdxmlfbo nd rob~dx hlfbìxed slrrl soal lzlaelçâd nl aubxl~ezenlno nd rob~dx!

hom bdmd l lfìaero nl rul ozdauçâd ld adfgd nd ~omsd& L ozdauçâd nl aubxl~ezenlno soxme~exì |uo

ro ~of`l! om slx~o! uml enoel lboxbl nd noromsof`d ndr hlfbdr fd RJM&

Dr hlfbdr! om goxla! ~ém bdmd lr rulr xoboe~lr dr iuxdr rdhxo dr omsxår~emdr! ^í~uadr <8 !

sxor~lçâd no roxzeçdr o! o|uezlaéfbel sl~xemdfela& Bdmd norsorlr! sdnomdr bdfrenoxlx dr iuxdr no

nosòre~dr o dhxeglçÿor! sxdzerÿor slxl bxåne~dr nuzendrdr! sorrdla o bur~dr lnmefer~xl~ezdr!

emsdr~dr o! slx~ebeslçâd&Du~xd jlb~dx slxl lzlaelx l soxjdxmlfbo nd rer~oml hlfbìxed å l djox~l nd bxåne~d! zer~d |uo or~o å

d sxefbesla sxdnu~d hlfbìxed& D bxåne~d xosxorof~l um lb~ezd slxl dr hlfbdr& L djox~l nor~o sdno

bdfnebedflx l lb~ezenlno hlfbìxel nozend sxefbeslamof~o ld xerbd nd bxåne~d&

<8 Glf`dr no blse~la+iuxdr





>&<&< Bxe~åxedr no ojebeéfbel

Dr hlfbdr om Mdçlmhe|uo! râd bdfrenoxlndr xof~ìzoer o hom blse~laeylndr! fd of~lf~d or~âd

mue~d zuafoxìzoer jlbo ld xerbd no bxåne~d fd slír& Dr efneblndxor no xof~lheaenlno orbda`endr slxllzlaelx l soxjdxmlfbo nd rob~dx râd dr aubxdr aí|uendr! XDLL o XDLO&

D aubxd ae|uend nomdfr~xl d xo~dxfd sdre~ezd no um efzor~emof~d joe~d soal omsxorl! lsòr l

nonuçâd nlr norsorlr dsoxlbedfler o fâd dsoxlbedfler&

D XDLL XDL% å um efneblndx jeflfboexd |uo mdr~xl! om soxbof~lgom! bdmd dr lb~ezdr

aubxl~ezdr nl omsxorl or~âd l goxlx xoboe~lr& Or~o efneblndx mdr~xl bdmd l omsxorl å xof~ìzoa lf~or

nl lalzlfblgom jeflfboexl& Å mue~d urlnd slxl bdmslxlx d noromsof`d nlr efr~e~ueçÿor jeflfboexlr

bdmd dr hlfbdr%! sdx|uo l mledxel ndr lb~ezdr hlfbìxedr ~oxì um zladx bdf~lheaír~ebd |uo or~ì sox~d

nd rour zladxor no moxblnd&

D XDLO XDO% å um efneblndx! ~lmhåm jeflfboexd! soxbof~ula |uo ro xojoxo l blslbenlno no

uml omsxorl lgxoglx zladx l oal morml u~eaeylfnd dr rour sxòsxedr xobuxrdr! du roil! d |ulf~d or~l

bdfroguo bxorbox urlfnd dr rour xobuxrdr sxòsxedr& Sdx or~l xlyâd or~o å zer~d bdmd um ndr mler

emsdx~lf~or xìbedr jeflfboexdr&

^lhoal 2 ‒ Efneblndxor no Soxjdxmlfbo

<555 8333 833< 8338 8332 833> 833? 833:Aubxdr $Sxoi&Ae|uendr(MMYM% 58&?52 -<&7<<&877 -057&>2< ?>0&232 >7>&288 ?78&7:3 5>3&?0< 8&238&035XDLL 3!>?/ -5!28/ -2!>>/ <!75/ <!>2/ <!?3/ 8!3:/ 2!55/XDLO <5!77/ -??!:</ -<<0!2>/ 8<!:0/ <>!></ <>!>3/ 8<!?>/ >7!72/

Jdf~o9 Xoal~òxed no Sor|uerl rdhxo d rob~dx hlfbìxed; LMH 8333-833:%

Bdmd ro sdno dhroxzlx fl ~lhoal lbeml! d rob~dx hlfbìxed mdçlmheblfd zom xoger~lfnd

moa`dxelr bdfrenoxìzoer fd |uo ro xojoxo ã xof~lheaenlno nd rob~dx hlfbìxed om Mdçlmhe|uo& Fd

lfd no 833:! d rob~dx xoger~du um sdf~d mìpemd no aubxdr aí|uendr no 8&238&035 mea`lxor no

mo~ebler! d |uo xosxorof~du um bxorbemof~d no lsxdpemlnlmof~o <>?/ om xoalçâd ld lfd lf~oxedx

no 833? 5>3&?0< mea`ÿor%&

Bdmd ro sdno dhroxzlx fl ~lhoal! om 8333 d rob~dx lsxorof~l xorua~lndr fogl~ezdr nobdxxof~or

nl gxlzo bxero hlfbìxel |uo ro lhl~ou fd slír& Or~o xorua~lnd fogl~ezd jde slx~ebualxmof~o ljob~lnd

soad lzua~lnd sxoiuíyd nd HL jlbo ld rlfolmof~d nl rul blx~oexl no bxåne~d |uo xonuyeu

ruhr~lfbelamof~o l mlxgom no iuxdr nd hlalfçd&




Rdxll Rlxl` Jlkex Bdrbedfo 2>

Lefnl om 833< d xorua~lnd ro lsxorof~l fogl~ezd! rofnd lefnl xorua~lnd nl bxero hlfbìxel fd lfd

lf~oxedx! fd of~lf~d lsxorof~l uml moa`dxel no >2 sdf~dr soxbof~uler om xoalçâd ld lfd lf~oxedx&

Or~o xorua~lnd fogl~ezd nobdxxo nl bdfr~e~ueçâd no sxdzerÿor! xorua~lf~or nl aemsoyl nlr blx~oexlr no

bxåne~d ndr hlfbdr ofzdazendr fl bxero hlfbìxel&

Fd lfd no 8332! d rob~dx lsxorof~du aubxdr sdre~ezdr >7>&288% ! lefnl |uo mofdxor |uo om 8338

?>0&232%! lsxorof~lfnd uml zlxelçâd fogl~ezl no <2!>5/& Or~l |uonl fdr xorua~lndr jde blurlnl

sdx sxefbeslamof~o soal xonuçâd regfejebl~ezl nlr ~lpl no iuxd lb~ezlr! xonuçâd mler uml zoy% ndr

lb~ezdr no xerbd bdm mledx xo~dxfd fl or~xu~uxl ndr lb~ezdr xomufoxlndr! o l or~lheaenlno nd mo~ebla

jlbo ld nòalx fd mormd lfd&

Gxìjebd 8 ‒ Ozdauçâd ndr aubxdr aí|uendr (<555-833:%

Lnls~lnd no9 Xoal~òxed no Sor|uerl rdhxo d rob~dx hlfbìxed; LMH 8333-833:%

\ulf~d ldr efneblndxor jeflfboexdr XDL o XDO! or~or ~lmhåm ~ém zefnd l xoger~lx

bxorbemof~dr! xojaob~efnd l moa`dxel nl xof~lheaenlno nd rer~oml hlfbìxed mdçlmheblfd& Nor~l|uo

å mler uml zoy slxl d lfd no 8333! |uo ~ofnd um xorua~lnd aí|uend hlr~lf~o no~oxedxlnd lsxorof~l!

nor~o mdnd dr zladxor no XDL o XDO fogl~ezdr -5!28 o -??!:<% d |uo efnebl uml efojebeof~o

ladblçâd ndr xobuxrdr fdr hlfbdr no Mdçlmhe|uo fl la~uxl& D lfd no 833< <2 lsxorof~l ~lmhåm

zladxor fogl~ezdr nobdxxof~or nl xoor~xu~uxlçâd ld rob~dx hlfbìxed |uo ro joy rof~ex forro lfd!

<2 Dr xorua~lndr lsxorof~lndr l|ue slxl d lfd no 833< or~âd ljob~lndr soad emslb~d nl xoor~xu~uxlçâd flrnomdfr~xlçÿor jeflfboexlr ndr hlfbdr sxezl~eylndr dbdxxenl forro mormd lfd&




Rdxll Rlxl` Jlkex Bdrbedfo 2?

|uo zerlzl ~xlfrjdxmlx d rob~dx jxlgeaeylnd slxl um rob~dx blxlb~oxeylnd sdx uml mledx rdaenoy!

bdf~xdao o ojebeof~o rusoxzerâd hlfbìxel&

Lsorlx no nuxlf~o d lfd no 8338! or~o efneblndxor ~oxom xoger~lnd moa`dxelr! om 8332 xoger~du-

ro um aegoexd nobxårbemd! rofnd or~o l~xehuínd! no uml jdxml goxla! ãr xonuçÿor nlr ~lplr no iuxdr

zer~d |uo or~or jdxlm efzor~endr l uml ~lpl no xo~dxfd mofdx |uo fd lfd lf~oxedx&

Fâd dhr~lf~o d jlb~d no d rob~dx lsxorof~lx gxlur no xof~lheaenlno bdfrenoxlndr oaozlndr! lefnl

ro bdfrenoxl |uo lsxorof~l zladxor lhlepd ndr fízoer lsxorof~lndr sdx lagufr slíror nl xogeâd&

>&<&8 D rer~oml Hlfbìxed Mdçlmheblfd o l djox~l no bxåne~d

D dhiob~ezd nd gdzoxfd l|ulfnd nl aehoxlaeylçâd jeflfboexl no sxdmdzox l opslfrâd nlr

dsoxlçÿor no bxåne~d! o nor~o mdnd l~xlzår nl of~xlnl no fdzdr lgof~or fd moxblnd xorua~lrro fumlxonuçâd fdr rsxolnr hlfbìxedr hom bdmd flr ~lplr no iuxd&

D gxìjebd 2 nomdfr~xl l ozdauçâd nl djox~l no bxåne~d fd slír! fd soxídnd om lfìaero! d |uo

soxme~o ~exlx lagumlr bdfbaurÿor fd |uo ney xorsoe~d ld slsoa ndr hlfbdr bdmoxbeler fl djox~l no

bxåne~d&

Gxìjebd 2 ‒ Ozdauçâd nl Djox~l no bxåne~d om Mdçlmhe|uo (8333-833:%


Fd sxorof~o gxìjebd sdno-ro soxbohox |uo d fízoa no bxåne~d ner~xehuínd l obdfdmel

mdçlmheblfl soadr hlfbdr ~om zefnd l bxorbox&

Fd~l-ro sdxåm |uo `ì soxídndr om |uo orro bxorbemof~d å fogl~ezd& Of~xo d lfd no 8333 o 833<

`duzo um lbxårbemd no 27/ fdr fízoer no bxåne~d djoxobendr l obdfdmel rofnd |uo or~l jdemd~ezlnl soad bxorbemof~d obdfòmebd! |uo efbof~ezl l sxdbuxl soad bxåne~d slxl d bdfrumd o slxl




Rdxll Rlxl` Jlkex Bdrbedfo 2:

d efzor~emof~d& Om ~oxmdr nd ~esd no mdonl or~eml-ro |uo dr bxåne~dr om mdonl flbedfla ~of`lm

rdhxosdr~dr dr no mdonl or~xlfgoexl om :3/ l~å ld lfd no 833?! |ulfnd ro ef~xdnuyeu d Lzerd |uo

dhxeglzl lr efr~e~ueçÿor jeflfboexlr l bdfr~e~uíxom boxbl no ?3/ no sxdzerÿor nd bxåne~d om mdonl

or~xlfgoexl<>&

Om xoalçâd ld lfd no 8338 bdfrenoxl-ro |uo d rob~dx hlfbìxed xoger~du um bxorbemof~d mue~d

sdubd lbof~ulnd lsoflr ?!?:/% om xoalçâd ld lfd lf~oxedx& L~xehue-ro om gxlfno slx~o orro

nobxårbemd nd bxåne~d l nosxobelçâd nd mo~ebla jlbo ld nòalx! bdfiuglnlr bdm d lmheof~o

mlbxdobdfòmebd fd slír& Sdx rul zoy! l or~xu~uxl nd bxåne~d sdx mdonlr mdnejebdu-ro rofnd |uo l

aenoxlfçl jde ~xlfrsdx~lnl slxl l mdonl op~oxfl &

D lfd no 8332 lsxorof~l um aegoexd nobxårbemd om xoalçâd ld lfd lf~oxedx! ~ofnd xoger~lnd um

nobxårbemd no 8!7/! rofnd |uo å l~xehuínd ld rlfolmof~d ldr bxåne~dr mla slxlndr! hom bdmd l

lndsçâd no monenlr mler sxunof~or sdx slx~o ndr hlfbdr bdmoxbeler o l orblrroy no sxdiob~dr no

efzor~emof~dr no xerbd lboe~ìzoa slxl dr hlfbdr& ^lmhåm l bxorbof~o ndalxeylçâd nd rob~dx hom

bdmd l bxorbof~o efjdxmlçâd lrremå~xebl fl ef~oxmonelçâd jeflfboexl râd jlb~dxor |uo ljxduplxlm d

bxorbemof~d nl djox~l nd bxåne~d& Laeìr fd mormd lfd! d bxåne~d om mdonl or~xlfgoexl xoger~du um

lbxårbemd om 83/! rofnd |uo d bxåne~d om mdonl flbedfla nobxorbou om <5/! la~oxlfnd l

or~xu~uxl nl djox~l nd bxåne~d&

Slxl d lfd no 833: fd~l-ro |uo l djox~l no bxåne~d lsxorof~l um bxorbemof~d opsdfofbela

zlxelfnd 88/ om xoalçâd ld lfd no 833? norlboaoxlçâd om xoalçâd ld bxorbemof~d no 833?%

l~efgefnd um rland no 8?&<30&5:2 mea`lxor no M^& D lumof~d nd bxåne~d ã obdfdmel or~ì

lrrdbelnd ldr roguef~or jlb~dxor9

e& Lumof~d nl sxdbuxl no bxåne~d! ~lf~d soalr omsxorlr slxl jeflfbelmof~d no moedr

bexbualf~or o slxl efzor~emof~d! bdmd sdx slx~ebualxor slxl bdfrumd o l|uereçâd no hofr

emdheaeìxedr;

ee& L lsxobelçâd nd Nòalx Lmoxeblfd om xoalçâd ld Mo~ebla;

eee& Lumof~d no sxdiob~dr no efzor~emof~dr no xerbd lboe~ìzoa o bdm mledxor xo~dxfdr&

D lumof~d nl djox~l nd bxåne~d ã obdfdmel for~o lfd 833:% bdxxdhdxl bdm d bxorbemof~d nl

xofneheaenlno nd rer~oml hlfbìxed! nomdfr~xlnl fd gxìjebd 8& D lumof~d nd bxåne~d bdfbonend

xorua~du fd bxorbemof~d nl mlxgom jeflfboexl om 8>/! |uo ro ~xlnuyeu ~lmhåm fd lumof~d ndr

aubxdr! jdxmlfnd! bdfro|uof~omof~o mledxor fízoer no XDL o XDO&

<> LZERD F¹ ?$GGHM$833?! nd Hlfbd no Mdçlmhe|uo





Gxìjebd > ‒ Bdmslxlçâd of~xo l ozdauçâd nl djox~l no bxåne~d o ndr aubxdr aí|uendr fd rob~dx hlfbìxed mdçlmheblfd


D gxìjebd lbeml nomdfr~xl lefnl |uo! mormd fdr lfdr om |uo d rob~dx lsxorof~du |uonlr fl

djox~l no bxåne~d 8332 o 833>% dr aubxdr aí|uendr nor~o bdf~efulxlm l xoger~lx um bxorbemof~d

lefnl |uo xonuyend%! xoger~lfnd lsoflr uml aegoexl |uonl fd lfd no 8332! lsxorof~lfnd nor~o

mdnd l blslbenlno |uo d rob~dx hlfbìxed ~om no ro lnls~lx o sxdbuxlx fdzlr jdf~or no xofnemof~d&L la~l flr ~lplr no iuxdr xoler laemof~du l jxlbl ef~oxmonelçâd jeflfboexl& Or~l jxlbl

ef~oxmonelçâd oxl ~lmhåm xorua~lnd no emsonemof~dr aogler o efr~e~ubedfler! sdx opomsad! jla~l no

blslbenlno fl opobuçâd no nízenlr l~xlzår ndr ~xehufler! xonuyenl efjdxmlçâd rdhxo dr nozondxor!

of~xo mler& No jlb~d! fd efíbed nl nåblnl jlb~dxor bdmd dr ~xehufler efojebeof~or! oaozlnd fùmoxd no

sxdbonemof~dr! l~xlrd fl xordauçâd no nersu~lr! râd bdfrenoxlndr md~ezdr soadr |uler oper~el uml

jxlbl blslbenlno no jlyox zlaox soxlf~o l aoe dr bdf~xl~dr no bxåne~d& ^lmhåm dr jxlbdr nexoe~dr no

sxdsxeonlno! dr sxdbonemof~dr bur~drdr o bdmsaopdr slxl ~xlfrjoxex o xoger~lx sxdsxeonlno!

bdfr~e~uílm um emsonemof~d |uo d bdal~oxla sunorro rox um lb~ezd no fl~uxoyl xola& Nozend ldr

bdfr~xlfgemof~dr lsxorof~lndr! dr hlfbdr ds~lzlm sdx bdhxlx ~lplr no iuxd hlr~lf~o oaozlnlr o!

opegex um bdal~oxla ~lmhåm regfejebl~ezd! ofblxobofnd o nejebua~lfnd d lborrd l jeflfbelmof~d no

omsxorlr sxezlnlr mdçlmheblflr! |uo mue~lr zoyor ro jeflfbelzlm l~xlzår no aubxdr xo~endr&

D bxåne~d bdfbonend soad rer~oml jeflfboexd ~om ~end um bdmsdx~lmof~d xoal~ezlmof~o

`o~oxdgåfod norno d efíbed nl nåblnl om lfìaero& L~å jefler no 833>! d bxåne~d ~d~la bdfbonend l

obdfdmel xoger~du ~lplr no bxorbemof~d mdnor~lr! sxòpemd nd yoxd! dbdxxofnd fuml la~uxl no

sxojoxéfbel soad bxåne~d om mdonl or~xlfgoexl om no~xemof~d ndr jeflfbelmof~dr om mo~ebler& L





ef~xdnuçâd nd Lzerd f¹ ?$833? xonuyeu l opsdreçâd ndr hlfbdr l bxondxor rom bdhox~uxl no xerbdr

lno|ulnl for~o blrd bèmhela% Dhroxzlfnd-ro um bxorbemof~d sxdgxorrezd nd bxåne~d bdfbonend om

mdonl flbedfla! o d efzoxrd fl mdonl op~oxfl&

>&<&8&< Rsxolnr Hlfbìxedr

Dr rsxolnr hlfbìxedr xosxorof~lm l nejoxofçl of~xo l ~lpl no lsaeblçâd flr dsoxlçÿor no

omsxår~emdr o flr ~lplr no bls~lçâd no xobuxrdr soalr efr~e~ueçÿor jeflfboexlr&

Fd gxìjebd lhlepd sdnomdr dhroxzlx l ozdauçâd ndr rsxolnr hlfbìxedr! fd soxídnd om lfìaero fd

rer~oml hlfbìxed mdçlmheblfd&

Gxìjebd ? ‒ Ozdauçâd nd rsxoln no iuxdr nd rob~dx hlfbìxed


L ozdauçâd ndr rsxolnr hlfbìxedr nomdfr~xl um bdmsdx~lmof~d exxogualx! rofnd |uo fd lfd no8338 l~efgo-ro ld sebd mler la~d bdm 5!0:/& Er~d sdno rox iur~ejeblnd soad jlb~d no |uo lr monenlr

xor~xe~ezlr om xoalçâd l sdaí~ebl mdfo~ìxel ~oxom-ro ~xlnuyend fuml xonuçâd no ae|uenoy xorua~lfnd

fum bxorbemof~d flr ~lplr no iuxdr lb~ezlr ‒ lr ~lplr no omsxår~emd l <03 nelr lbxorboxlm ?ss o lr

no < lfd om 8ss ‒ ~ofnd bdmd bdfro|uéfbel d bxorbemof~d ndr rsxolnr hlfbìxedr! zer~d lefnl |uo

lr ~lplr no iuxdr slrrezlr nosòre~dr% rdjxoxlm nulr norbenlr ld adfgd nd mormd lfd&

Sdx rul zoy! l |uonl mler lbof~ulnl fdr rsxolnr dbdxxo om 833> ?!>7/%! ~ofnd bdmd

iur~ejeblçâd l ~ofnéfbel nobxorbof~o nlr ~lplr no iuxd lb~ezlr bdfiuglnlr bdm um soxídnd noor~lheaenlno nd Mo~ebla o hlepl efjalçâd&





Fd of~lf~d! lsorlx no ~ox xoger~lnd um nobxårbemd bdfrenoxìzoa dr rsxolnr hlfbìxedr lefnl râd

bdfrenoxlndr oaozlndr! mormd slxl fízoer xogedfler&

>&<&2 \ulaenlno nl Blx~oexl no Bxåne~d

No mdnd l lzlaelx l |ulaenlno nl blx~oexl no bxåne~d ndr hlfbdr bdmoxbeler! jde orbda`end d xìbed

bxåne~d zofbend o$du nuzendrd$bxåne~d ~d~la /%! |uo nomdfr~xl nl |ulf~enlno nd bxåne~d

djoxobend ã obdfdmel mdçlmheblfl! |ula å d zdaumo |uo ro ~dxfl bxåne~d mdxdrd&

D gxìjebd :! nomdfr~xlnd lhlepd nomdfr~xl l ozdauçâd nobxorbof~o nor~o xìbed! fd moxblnd

hlfbìxed mdçlmheblfd&

Gxìjebd : ‒ Ozdauçâd nd xìbed no lzlaelçâd nl |ulaenlno nl blx~oexl no bxåne~d


Fd gxìjebd lbeml sdno-ro dhroxzlx |uo fdr lfdr no 833< o 8338 d xìbed xoger~du um lbxårbemd&

Er~d å xorua~lnd nl bxero hlfbìxel o nlr sdaí~eblr lnds~lnlr soad HM no mdnd l dxeof~lx d rer~oml

hlfbìxed flbedfla&

Lsòr d lfd no 8338 ~om ro xoger~lnd um nobxårbemd regfejebl~ezd slrrlfnd no <?!<</ nd lfd no

8332 slxl :!3:/ om 833> o 2!32/ om 833?! ~ofnd nobxorbend l~å ld xobdxno no 8!70/ fd lfd no

833:! rofnd l sxefbesla blurl nor~l xonuçâd for~o ífnebo! dr rlfolmof~dr fl blx~oexl no bxåne~d

laelnlr l uml gor~âd mler sxunof~o nl blx~oexl no bxåne~d nd rer~oml o l uml sdaí~ebl no bonéfbel no

bxåne~dr mler sxunof~o o bxe~oxedrl! hom bdmd l xobusoxlçâd no bxåne~dr mla slxlndr o l

xoor~xu~uxlçâd no bxåne~dr mla slxlndr sdx zel nd xojdxçd no glxlf~elr du xogualxeylçâd ndr iuxdr

zofbendr&




Rdxll Rlxl` Jlkex Bdrbedfo >3

>&<&> Bdfbof~xlçâd Hlfbìxel

Fâd dhr~lf~o lr xojdxmlr emsdr~lr ld rob~dx! nobdxxof~or ~lf~d nl aehoxlaeylçâd jeflfboexl hom

bdmd nl bxero hlfbìxel! d rer~oml hlfbìxed mdçlmheblfd å lefnl bdfrenoxlnd mue~d so|uofd ohlr~lf~o bdfbof~xlnd&

Adgd lsòr l aehoxlaeylçâd jeflfboexl! d rob~dx hlfbìxed xoger~du uml lhox~uxl l efzor~emof~dr

or~xlfgoexdr! jeblfnd fd of~lf~d! dr mledxor hlfbdr bdmoxbeler fl la~uxl% nd slír ‒ d HBM o d

HSN ‒ sxdsxeonlno mledxe~ìxel nd Gdzoxfd Mdçlmheblfd! ~ofnd rend sxezl~eylndr l~xlzår nl

l|uereçâd no slx~ebeslçÿor mledxe~ìxelr om <55: o <557 xorsob~ezlmof~o&

Xoger~lfnd-ro l bxero hlfbìxel fd slír! l gxlfno sxodbuslçâd nlr lu~dxenlnor bdmso~of~or! slxl

laåm no bdf~xdalx l re~ulçâd no mdnd l oze~lx d bdalsrd ~d~la nd rer~oml jeflfboexd mdçlmheblfd!

oxl lhxex lefnl mler d rob~dx ã efzor~emof~dr or~xlfgoexdr! buameflfnd bdm l l|uereçâd nd HBM

soad Gxusd HEM l~xlzår nl zofnl nlr slx~ebeslçÿor nd Gxusd Moaad no Sdx~ugla! |uo ~lmhåm

norlslxobou% o l zofnl nd HL l um gxusd no efzor~endxor rua-ljxeblfdr! ~xlfrjdxmlfnd-ro om

Hlfbd Lur~xla - Momhxd nd LHRL& Or~l lhox~uxl fd rer~oml hlfbìxed mdçlmheblfd xorua~du fl

ndmefèfbel sdx efzor~emof~dr or~xlfgoexdr! sxefbeslamof~o d efzor~emof~d sdx~uguér o rua-ljxeblfd!

nd rer~oml hlfbìxed flbedfla&

Lefnl |uo fdzdr hlfbdr ~of`lm ruxgend nobdxxof~o nl lhox~uxl nd moxblnd hlfbìxed! or~o lefnl

å hlr~lf~o bdfbof~xlnd! rofnd |uo å sdubd nersoxrd godgxljeblmof~o! bdfbof~xlfnd-ro mler flr

sxefbesler benlnor nd slír ‒ Mlsu~d! Hoexl o Flmsual ‒ o bdm dr mledxor hlfbdr bdmoxbeler l

no~oxom boxbl no 5?/ nl |ud~l no moxblnd o nd ~d~la ndr lb~ezdr ~d~ler nd rer~oml&

Rogufnd or~l~ír~eblr l~å Noyomhxd no 833: oper~elm dr roguef~or dsoxlndxor jeflfboexdr fd slír9

^lhoal > ‒ Dsoxlndxor Jeflfboexdr

Hlfbdr Bdmoxbeler <8

Lgéfbelr Bddsoxl~ezlr <<Blrlr no Bèmhed 83

Of~enlnor `lheae~lnlr ld opox& No Jufçÿor no bxåne~d 83

Dsoxlndxor no mebxd-bxåne~d ?0

Xosxorof~lçÿor no efr~& No bxån& b$ rono fd or~xlfg& <

Rdbeonlnor no Lnmf& no Bdmsxlr om Gxusd <

Rdbeonlnor no Gor~âd no Blse~ler no Xerbd <

Rdbeonlnor no Efzor~emof~d <

Rdbeonlnor no Adçlbâd Jeflfboexl 2Jdf~o9 Xoal~òxed nd HSE; Fdzomhxd 8337; sg& 22

Lefnl |uo d fùmoxd no dsoxlndxor jeflfboexdr ~of`l xoger~lnd lbxårbemdr! boxbl no 03/ nd~oxxe~òxed flbedfla fâd sdrrue |ula|uox lgéfbel hlfbìxel! nomdfr~xlfnd l jxlbl hlfblxeylçâd nl




Rdxll Rlxl` Jlkex Bdrbedfo ><

obdfdmel mdçlmheblfl flr ydflr xuxler& L ~lhoal roguef~o nomdfr~xl l ner~xehueçâd no lgéfbelr!

xojdxçlfnd d lxgumof~d no |uo fâd dhr~lf~o dr orjdxçdr! l obdfdmel mdçlmheblfl å lefnl sdubd

hlfblxeylnl&

^lhoal ? ‒ Ner~xehueçâd no lgéfbelr sdx sxdzífbelr

Jdf~o9 Xoal~òxed nd HSE; Fdzomhxd 8337; sg& 2>

Bdmd ro sdno dhroxzlx lbeml! l benlno no Mlsu~ddbusl d nor~l|uo o l sxojoxéfbel nlr lgéfbelrhlfbìxelr! bdf~xehuefnd bdm boxbl no >?/ fd sord ~d~la nd fùmoxd no lgéfbelr! roguo-ro Rdjlal!

|uo sdrrue l rogufnl mledx benlno nd slír ‒ Hoexl ‒ |uo bdf~xehue bdm <3/ slxl d sord ~d~la&

Sdxåm lr du~xlr sxdzífbelr! lsxorof~lm soxbof~lgom hlr~lf~o hleplr! b`oglfnd l lsxorof~lx zladxor

bdmd 8/ slxl d zdaumo no hlfblxeylçâd o 5:/ slxl l soxbof~lgom nl sxdzífbel rom |ula|uox

lgéfbel hlfbìxel! slxl d blrd no Felrrl&

>&8& Bdfbaurÿor ndr ojoe~dr nl Xoor~xu~uxlçâd Hlfbìxel

Omhdxl dhr~ìbuadr efr~e~ubedfler bdf~efuom l xosxemex l ef~oxmonelçâd jeflfboexl! d slír

xoger~du sxdgxorrdr ruhr~lfbeler ld sxdmdzox l aehoxlaeylçâd jeflfboexl! o l xoor~xu~uxlçâd hlfbìxel

fdr ùa~emdr noy lfdr&

Lr xojdxmlr o l xoor~xu~uxlçâd hlfbìxel emsaomof~lnlr fd slír jdblaeylzlm dr roguef~or

dhiob~ezdr9

e& Jdx~laobemof~d nd rob~dx hlfbìxed o xojdxçd nl blslbenlno nd HM om ~oxmdr no rusoxzerâd

hlfbìxel! hom bdmd nl efjxl-or~xu~uxl jeflfboexl;

F¹ no Sord Ner~xe~dr r$

lgéfbelr (/%

|ula|uox lgéfbel

(/%

Benlno no Mlsu~d <32 >? -

Sxdzífbel no Mlsu~d <0 0 >7

Glyl <> : 03

Ef`lmhlfo <2 : 0<

Rdjlal 88 <3 0?

Mlfebl <8 ? 0<

^o~o 0 > 03

Ylmhåyel <3 > 7:

Flmsual <7 7 53

Blhd noaglnd 7 2 ?7

Felrrl > 8 5:

^d~la 880 <33





ee& Sxdmdzox l bdf~lheaenlno jeflfboexl o l ~xlfrslxéfbel l~xlzår nl ef~xdnuçâd no fdxmlr

ef~oxflbedflamof~o lboe~or;

eee& Jdx~laobemof~d nl blslbenlno no gor~âd nl nízenl sùhaebl;

Nlnd d slsoa ndmeflf~o ndr hlfbdr fd rer~oml jeflfboexd mdçlmheblfd! o ld rou slx~ebualx

or~lnd no jxlgeaenlno fd mdmof~d om |uo lr xojdxmlr jdxlm bdfnuyenlr! ~dxflxlm-ro sxedxe~ìxedr dr

roguef~or dhiob~ezdr9

e& Rusdx~o l rdaenoy nd rer~oml hlfbìxed sxdmdzofnd l ~xlfrslxéfbel o nezuaglçâd! o xojdxçlx l

blslbenlno no rusoxzerâd nd HM;

ee& Sxdmdzox d lborrd ld bxåne~d! sdx slx~o nlr sdsualçÿor nlr ydflr xuxler! hom bdmd sdx

slx~o nlr omsxorlr&

>&8&< Bdfbaurÿor rdhxo d nelgfòr~ebd nd rob~dx hlfbìxed Mdçlmheblfd

Lefnl |uo bdf~efuo so|uofd o sdubd norofzdazend! d rer~oml jeflfboexd mdçlmheblfd

sxdrrogueu um adfgd blmef`d norno d jem nl guoxxl bezea - ofzdazofnd l ~xlfrjdxmlçâd no um

rer~oml no obdfdmel salfejeblnl slxl um rer~oml no obdfdmel no moxblnd ndr nelr lb~uler&

L aehoxlaeylçâd jeflfboexl dbdxxenl soxme~eu l lhox~uxl nd moxblnd hlfbìxed! ndmeflf~o fd

rer~oml jeflfboexd mdçlmheblfd! l efzor~emof~dr or~xlfgoexdr d |uo xorua~du fum lumof~d nd

fùmoxd no hlfbdr bdmoxbeler fd slír& L sxemoexl jlro nl aehoxlaeylçâd jeflfboexl ‒ sxezl~eylçâd nd

moxblnd hlfbìxed ‒ jde ljob~lnl o bdmsxdmo~enl soal jla~l no neaegéfbel! xorua~lfnd om

xoblse~laeylçÿor bur~drlr lsòr l bxero hlfbìxel! sdx slx~o nd gdzoxfd mdçlmheblfd&

Lsòr l bxero hlfbìxel! l xoor~xu~uxlçâd |uo ro nou ~dxfdu d moxblnd hlfbìxed ~dxfdu-ro

ndmeflnd sdx efzor~emof~dr or~xlfgoexdr o hlr~lf~o bdfbof~xlnd! lefnl |uo ~ezorrom of~xlnd mler

lgof~or hlfbìxedr fd slír& L~å d lfd no 833?<? d rer~oml ~dxfdu-ro hlr~lf~o ndalxeylnd! lumof~lfnd

d xerbd bèmhela rusdx~lnd soadr hlfbdr bdmoxbeler& Bdm d lumof~d nd zdaumo no sxdzerÿor!nobdxxof~or nd lzerd ?$833? nd HM ‒ bdfr~e~ueçâd no sxdzerÿor no ?3/ slxl d bxåne~d om mdonl

or~xlfgoexl ‒ aozdu l xozoxrâd nor~o jlb~d&

No um mdnd goxla! sdno-ro neyox |uo l xoor~xu~uxlçâd hlfbìxel jde hom rubonenl fd |uo ney

xorsoe~d ld lumof~d nd fùmoxd no hlfbdr! mormd |uo or~o fùmoxd roil lefnl bdfrenoxlnd so|uofd&

Nor~o mdnd å foborrìxed bdf~efulx l ~xlhla`lx no mdnd l l~xlex mler efzor~emof~d slxl d moxblnd

hlfbìxed mdçlmheblfd& Sdxåm or~o ruborrd å djurblnd sdx um ndr gxlfnor sxdhaomlr nd moxblnd

<? \ulfnd jde ef~xdnuyend d Lzerd f¹ ?$833? nd HM





hlfbìxed mdçlmheblfd ‒ l jxlbl nersoxrâd godgxìjebl o l bdfbof~xlçâd flr sxefbesler benlnor ‒ d

|uo or~emual l jxlbl hlfblxeylçâd nl obdfdmel mdçlmheblfl&

Bdmd bdfr~xlfgemof~dr l opslfrâd nl hlfbl slxl lr ydflr xuxler! um ef|uåxe~d ojob~ulnd soad

HM lsdf~du lr roguef~or xlyÿor9

Luréfbel no efjxl-or~xu~uxlr or~xlnlr! xonor no bdmufeblçâd! oaob~xebenlno! o~b&%

Oaozlndr bur~dr dsoxlbedfler o no efzor~emof~d fl jlro no lxxlf|uo;

Bur~dr lrrdbelndr l sdaí~ebl mdfo~ìxel nozend ld bdojebeof~o no xoroxzlr dhxegl~òxelr 8337%;

Obdfdmel xuxla no nemofrâd xonuyenl;

Jla~l no rubuxrler nd HM;

Mâd-no-dhxl adbla rom d soxjea opegend&

Fd |uo ro xojoxo ldr Rsxolnr hlfbìxedr! lefnl |uo ~of`lm xonuyend ruhr~lfbelamof~o or~or lefnl

râd bdfrenoxlndr hlr~lf~o oaozlndr! l~å slxl dr fízoer nl xogeâd& L xlyâd ndr oaozlndr rsxolnr

hlfbìxedr sdno rox opsaeblnl sdx jlb~dxor mlbxdobdfòmebdr du soad bdmsdx~lmof~d no lagumlr

zlxeìzoer nd rer~oml hlfbìxed! rofnd |uo râd l|ue nor~lblnlr ~xér! fdmolnlmof~o9

E& D jxlbd noromsof`d nd xìbed no ~xlfrjdxmlçâd no nosòre~dr om bxåne~dr& Sdxåm or~o rò

sdno bdfrenoxlnd fuml so|uofl sxdsdxçâd! zer~d |uo d gxìjebd roguef~o nomdfr~xl |uo

fl zoxnlno! or~o xìbed ~om ro norofzdazend jlzdxlzoamof~o om xoalçâd ld bxorbemof~d

ndr rsxolnr&

Gxìjebd 7 ‒ Xoalçâd of~xo d xìbed no ^xlfrjdxmlçâd o d bxorbemof~d ndr Rsxolnr





Rdxll Rlxl` Jlkex Bdrbedfo >>

Dhroxzl-ro |uo fd lfd no 8338 dfno d rsxoln å mler oaozlnd 5!0:/%! d xìbed no ~xlfrjdxmlçâd

xonuy-ro& Lefnl |uo om 833: ~of`l rend uml lfd sdre~ezd slxl d bxorbemof~d nd xìbed! dr rsxolnr

bdf~efulm l bdmsxdmo~ox d rou bxorbemof~d! mormd sdx|uo d lumof~d nor~o sdno rox opsaeblnd

soad d lumof~d no sxdiob~dr no efzor~emof~d bdm xerbd lboe~ìzoa slxl dr hlfbdr bdmoxbeler

EE& D zdaumo nl blx~oexl no bxåne~d mlaslxlnd! d |uo fd of~lf~d fâd opsaebl! d bdmsdx~lmof~d

ndr rsxolnr fdr ùa~emdr lfdr 833>-833:% zer~d |uo d zdaumo no bxone~d mla slxlnd ~om

zefnd l xoger~lx nobxårbemdr bdfrenoxìzoer! fâd ro xoger~lfnd d mormd bdm dr rsxolnr

no iuxdr&

Gxìjebd 0 ‒ Xoalçâd of~xo l ozdauçâd ndr rsxolnr no iuxdr o |ulaenlno nl blx~oexl no bxåne~d


Bdmd ro sdno dhroxzlx fd gxìjebd lbeml! fdr lfdr no 8333 ã 8338! d lumof~d nd xìbed

iur~ejeblzl d lumof~d ndr rsxolnr! rofnd |uo for~l la~uxl xoger~du-ro dr rlfolmof~dr nlr blx~oexlr

no bxåne~d! o ~lmhåm d lhl~o no mue~dr bxåne~dr mla slxlndr! xorua~lfnd fum lumof~d ndr bur~dr no

bxåne~d slxl dr hlfbdr& Fd of~lf~d! l ~ofnéfbel nobxorbof~o nd zdaumo no bxåne~d mla slxlnd! fâd

iur~ejebl d bxorbemof~d ndr rsxolnr fdzlmof~o fdr lfdr no 833? o 833:&

EEE& Dr oaozlndr bur~dr fd moxblnd hlfbìxed! om xoalçâd l ~dndr dr lb~ezdr& Sdx opomsad!

urlfnd d xìbed Sxdzerÿor Orsobíjeblr$Bxåne~d zofbend ‒ |uo xojaob~o lr soxnlr orsoxlnlr

fl blx~oexl no bxåne~d ‒ sdno-ro dhroxzlx um bdmsdx~lmof~d flr buxzlr nd gxìjebd lhlepd

remealxor9




Rdxll Rlxl` Jlkex Bdrbedfo >?

Gxìjebd 5 ‒ Bdmslxlçâd of~xo l ozdauçâd ndr rsxolnr o nd bur~dr bdm sxdzerÿor


Dr nder gxìjebdr lbeml lsxorof~lm um bdmsdx~lmof~d romoa`lf~o! lmhdr l~efgom um sebd fd

lfd no 8338 bxorbom fd lfd no 833? fdzlmof~o& Fd of~lf~d! or~o fâd å d ùfebd bur~d |uo dr

hlfbdr ~ém |uo efbdxxox! oper~om ~lmhåm dr bur~dr dsoxlbedfler o lr sxdzerÿor goxler |uo sdnom

iur~ejeblx so|uoflr nezoxgéfbelr! bdmd å d blrd nd lfd no 833:&

Lrrem! fd |uo ro xojoxo ldr rsxolnr no iuxdr! sdno rox ljexmlnd |uo fâd rdmof~o jlb~dxor

efr~e~ubedfler bdfbdxxom slxl l mlfu~ofçâd nor~or l fízoer la~dr! mlr ~lmhåm jlb~dxor

mlbxdobdfòmebdr! xojoxof~or ld noromsof`d nl obdfdmel mdçlmheblfl&

Fd |uo ro xojoxo l rdazlheaenlno dr hlfbdr bdmoxbeler xoger~lxlm uml moa`dxel bdfrenoxìzoa!nomdfr~xlfnd |uo dr Hlfbdr Bdmoxbeler slxl laåm no roxom aubxl~ezdr! râd hom blse~laeylndr! d

|uo ~lmhåm nomdfr~xl |uo d HM bdfrogueu efbxomof~lx l rul blslbenlno no rusoxzerâd&

D xìbed no rdazlheaenlno efnebl l sxdsdxçâd xoal~ezl ndr lb~ezdr nl omsxorl jeflfbelndr sdx

blse~ler sxòsxedr zoxrur jeflfbelndr sdx blse~ler la`oedr& Rofnd ~und d xor~d egula! |ulf~d mler

oaozlnd or~o xìbed! mledx l or~lheaenlno jeflfboexl nl omsxorl& \ulf~d mler hlepd! mledx l

zuafoxlheaenlno& D Lbdxnd no Hlreaoel E roguend sdx Mdçlmhe|uo% or~lhoaobo |uo or~o xìbed nozo-

ro ofbdf~xlx fum mífemd no 0/&




Rdxll Rlxl` Jlkex Bdrbedfo >:

Gxìjebd <3 ‒ Ozdauçâd nl rdazlheaenlno

Lnls~lnd no9 Hlfbd no Mdçlmhe|uo 8330%

L|ue sdno-ro soxbohox |uo l Xoor~xu~uxlçâd ~ozo um emslb~d sdre~ezd fl moa`dxel nl

rdazlheaenlno nd rer~oml hlfbìxed mdçlmheblfd! |uo ~ozo um bxorbemof~d xìsend& L lhox~uxl nd

moxblnd hlfbìxed lsòr l xoor~xu~uxlçâd hlfbìxel no 833< soxme~eu uml moa`dx xoblse~laeylçâd ndr

hlfbdr mdçlmheblfdr! ~xlnuyefnd-ro fum bxorbemof~d ndr fízoer no rdazlheaenlno&

Fd of~lf~d! fâd dhr~lf~o dr oaozlndr fízoer no rdazlheaenlno! d jlb~d no Mdçlmhe|uo lefnlroguex Hlreaoel E! l|ulfnd nl bxelçâd no um fdzd lbdxnd Hlreaoel EE dfno râd xonojefendr dr fízoer

no rdazlheaenlno slxl <8/! sdno rox bdfrenoxlnd uml jxlgeaenlno! bdm blslbenlno no goxlx uml

lmolçl ju~uxl! slxl d rer~oml hlfbìxed&





Z& Bdfbaurÿor o Xobdmofnlçÿor

?&< Bdfbaurÿor

Dr rer~omlr jeflfboexdr râd bdfr~e~uíndr sdx ef~oxmoneìxedr jeflfboexdr buil sxefbesla jufçâd å

mdzox dr xobuxrdr ndr lgof~or rusoxlze~ìxedr mdzox dr xobuxrdr ndr lgof~or rusoxlze~ìxedr slxl dr

lgof~or ~dmlndxor no omsxår~emdr&

Omhdxl dr rer~omlr jeflfboexdr no ~dnd d mufnd ~of`lm ro norofzdazend no mdnd nejoxof~o!

~dxflfnd-ro mler bdmsaopdr o$du bdm ofjd|uo fum no~oxmeflnd ~esd no moxblnd! d moxblnd

hlfbìxed å rom nùzenl um ndr sxefbesler sealxor no ~dndr dr rer~omlr jeflfboexdr& Ld soxme~ex l

slrrlgom no xobuxrdr no um lgof~o slxl d du~xd! sxdmdzofnd d efzor~emof~d fl obdfdmel olumof~lfnd dr fízoer no sduslfçl! dr hlfbdr ~dxflxlm-ro lazd no sxdbuxl o um ndr sxefbesler

md~dxor nd norofzdazemof~d obdfòmebd& Laoplfnox @lmea~df<: <70<% nojofnou |uo dr ‟hlfbdr

râd lr moa`dxor ofgof`lxelr obdfòmeblr laguml zoy bxelnlr‚ slxl sxdmdzox d norofzdazemof~d

obdfòmebd&

Sdxåm! l lb~ezenlno hlfbìxel lrrumo om re mue~dr xerbdr o l efr~lheaenlno mlbxdobdfòmebl

bdfiuglnl bdm uml sdhxo rusoxzerâd o xogualmof~lçâd sdnom aozlx l uml re~ulçâd no bxero

hlfbìxel |uo sdnoxì lhlalx d rer~oml jeflfboexd fl rul ~d~laenlno& Nor~o mdnd! xoor~xu~uxlçÿor fd

rer~oml hlfbìxed râd ~xlçlnlr slxl emsonex l bxero! o bxelx um rer~oml jeflfboexd mler rdaínd&

Opomsadr râd be~lndr! mue~dr slíror slrrlxlm sdx or~lr xoor~xu~uxlçÿor slxl oze~lxom d bdalsrd

~d~la no rour rer~omlr jeflfboexdr& Ld adfgd nor~o ~xlhla`d jdxlm be~lndr dr opomsadr nd Hxlrea o

Blyl|uer~âd! lmhdr um blrd no ruborrd mlr bdm aeçÿor l lsxofnox& Dr ojoe~dr om lmhdr blrdr!

omhdxl om re~ulçÿor nejoxof~or jdxlm remealxor fd |uo ro xojoxo l mlfu~ofçâd nl rdaenoy hlfbìxel&

Fd of~lf~d! slxl d blrd nd Hxlrea sdno-ro rlaeof~lx d jlb~d no |uo l xoor~xu~uxlçâd fâd bdfrogueu

lumof~lx l djox~l no bxåne~d nozend lr or~xl~ågelr lnds~lnlr o fd blrd nd Blyl|uer~âd! l

ef~oxmonelçâd jeflfboexl soxmlfobo sdx bxorbox sxefbeslamof~o sdx|uo fâd oper~eu! l|ulfnd nl

xoor~xu~uxlçâd uml ro|uéfbel aògebl nlr xojdxmlr&

D rer~oml hlfbìxed mdçlmheblfd monelf~o l obadrâd no uml bxero hlfbìxel jde dhxeglnd l

xoor~xu~uxlx-ro! rofnd |uo ld adfgd nor~o ~xlhla`d jdxlm lflaerlndr dr rour ojoe~dr! |uo ro

~xlnuyexlm fuml xomdnoalçâd ~d~la nd rob~dx! zer~d |uo! no mdnd l soxme~ex |uo d moxblnd

hlfbìxed mdçlmheblfd jdrro mler ròaend! `duzo uml mledx lhox~uxl ndr moxblndr! soxme~efnd

efzor~emof~dr or~xlfgoexdr o l sxezl~eylçâd ndr nder mledxor hlfbdr bdmoxbeler nl la~uxl&

<: Laoplfnox @lmea~df <7??-<03>% jde d sxemoexd Robxo~ìxed nd ~orduxd nd O_L&





L xoor~xu~uxlçâd sdno rox bdfrenoxlnl hom rubonenl om ~oxmdr no9

l& Xonuçâd nd zdaumo no bxåne~d mla slxlnd! d |uo ~xlnuy uml moa`dxel fl rusoxzerâd sdx

slx~o nd HM;

h& Moa`dxelr no Rdazlheaenlno! rofnd |uo l Hlfbl Mdçlmheblfl bdfroguo ua~xlslrrlx dr

aeme~or mífemdr opegendr soad Lbdxnd no Hlreaoel E<7! |uo râd no 0/! rofnd |uo fd lfd

no 833: d ífnebo no rdazlheaenlno l~efgeu dr <2!>2/;

b& Xonuçâd ndr Rsxolnr no iuxdr! |uo omhdxl lefnl roilm bdfrenoxlndr oaozlndr slxl

fízoer ef~oxflbedfler o xogedfler! or~or xoger~lxlm um ~ofnéfbel nobxorbof~o lsòr l

xoor~xu~uxlçâd;

n& Moa`dxelr fl aubxl~ezenlno nd rob~dx! nomdfr~xlndr soadr XDL o XDO mler jdx~or! o

lumof~d fdr aubxdr aí|uendr ndr hlfbdr bdmoxbeler&

o& Lumof~d fl bdfbdxxéfbel nd rob~dx! |uo lefnl |uo ro mlf~of`l so|uofd xoger~du um

lumof~d nd fùmoxd no hlfbdr o lgéfbelr hlfbìxelr fd slír;

Fd of~lf~d! å no fd~lx |uo lefnl |uo hom rubonenl slxl fízoer flbedfler! zer~d |uo ~xdupo

hofojíbedr! dr ojoe~dr nl xoor~xu~uxlçâd fâd bdfroguelm egulalx dr fízoer ef~oxflbedfler o xogedfler!

re~ulfnd-ro lefnl mue~d lhlepd nlr opsob~l~ezlr& ^lmhåm oper~om box~dr jlb~dxor! |uo omhdxl

~of`lm xoger~lnd moa`dxelr! râd sdf~dr |uo xosxemom d jufbedflmof~d nd rob~dx fd slír! o ro

~xlnuyom fuml jxlbl ef~oxmonelçâd jeflfboexl! fdmolnlmof~o9

<& Dr oaozlndr bur~dr no jeflfbelmof~d! du roil lr oaozlnlr ~lplr no iuxd<0 |uo emsonom

|uo mue~dr sxdiob~dr no efzor~emof~dr roilm xolaeyìzoer;

8& L oaozlnl bdfbof~xlçâd godgxìjebl flr sxefbesler benlnor nd slír! rofnd |uo lefnl |ulro

boxbl no 03/ nd ~oxxe~òxed flbedfla å norsxdzend no |ula|uox lgéfbel hlfbìxel;

2& L efoper~éfbel no um noslx~lmof~d sxòsxed slxl goxex d xerbd no bxåne~d flr efr~e~ueçÿor

jeflfboexlr! rofnd |uo d sxefbesla moed ro mlf~åm l bdfr~e~ueçâd no sxdzerÿor orsobíjeblr!

lumof~lfnd dr bur~dr l roxom rusdx~lndr soadr hlfbdr bdmoxbeler&

Bdm zer~l l bxuylx o bdmslxlx lr opsoxeéfbelr xojoxof~or ld blrd nd Hxlrea o Blyl|uer~âd! sdno-

ro bdfbauex |uo lr bdfneçÿor mlbxdobdfòmeblr nezoxgof~or râd jlb~dxor |uo aozlm l xorua~lndr

~lmhåm nezoxgof~or om lagufr sdf~dr&

<7 Lbdxnd no Hlreaåel E d roguend sdx Mdçlmhe|uo%! djebelamof~o nofdmeflnd Ef~oxfl~edfla Bdfzoxgofbo dj Blse~la

Molruxomof~ lfn Blse~la R~lfnlxnr! jde um lbdxnd jexmlnd om <500! fl benlno no Hlreaåel Ruíçl%! sdx efebel~ezl ndBdme~å nl Hlreaåel o xl~ejeblnd sdx mler no <33 slíror& Or~o lbdxnd ~ozo bdmd dhiob~ezd bxelx opegéfbelr mífemlr noblse~la! |uo nozom rox xorsoe~lnlr sdx hlfbdr bdmoxbeler! bdmd sxobluçâd bdf~xl d xerbd no bxåne~d&<0 L månel slxl lr ~lplr no iuxd fd slír å no boxbl 83/&





Fd of~lf~d! å no ro xorrla~lx |uo l xoor~xu~uxlçâd hlfbìxel fd slír fâd jde fl xolaenlno um salfd

mlr rem uml foborrenlno monelf~o l sdrreheaenlno no jlaéfbel ndr nder mledxor hlfbdr nd slír! |uo

bdmd d blrd nd Blyl|uer~âd! oxlm hlfbdr ‟~dd heg ~d jlea‚ (fdmolnlmof~o d HBM o d Hlfbd

Lur~xla%& Nejoxof~omof~o nd Blyl|uer~âd å no xorrla~lx! fd of~lf~d! |uo d jlb~d no d gdzoxfd fâd ~ox

lhxlçlnd l xoor~xu~uxlçâd nd rer~oml hlfbìxed! zer~d bdmd jla~l no omsof`d sdx slx~o nd Gdzoxfd

soad Hlfbd Mufnela! sdno rox um jlb~dx opsaebl~ezd nl sdrrízoa jlaéfbel nor~or hlfbdr& Rogufnd d

Hlfbd Mufnela dr gdzoxfdr râd mue~lr zoyor slrrezdr fuml re~ulçâd no efrdazéfbel hlfbìxel!

ef~oxzefnd rdmof~o |ulfnd d sxdhaoml ro ~xlnuy fuml eae|uenoy rer~åmebl&

Sdno rox fd~lnd! monelf~o or~lr opsoxeéfbelr |uo ~lf~d d Hxlrea bdmd d Blyl|uer~âd fâd

bòglxlm ld sdf~d no ~oxom no ojob~ulx um hlea-du~ ldr sxefbesler hlfbdr sdx ~oxom lnds~lnd uml

sdr~uxl sxd-lb~ezl! er~d å! sdx ~oxom ef~oxzend lf~or |uo l re~ulçâd sunorro ua~xlslrrlx lr hlxxoexlr!

xorua~lfnd fuml ae|uenlçâd ndr b`lmlndr ‟hlfbdr xuefr‚ o mlfu~ofçâd ndr ‟hlfbdr hdfr‚& _m

jlb~dx opsaebl~ezd nor~l re~ulçâd! slxl d blrd no Mdçlmhe|uo! sdno rox d jlb~d nl mlfu~ofçâd no

|ulnxdr fâd orsobelaeylndr fl gor~âd no xerbdr o hlfbìxel! hom bdmd fl aehoxlaeylçâd jeflfboexl

bdm l luréfbel no um |ulnxd no xogualmof~lçÿor hom nojefendr& Er~d å! jde sxedxeylnd l

aehoxlaeylçâd jeflfboexl rom ~ox-ro fd of~lf~d um ojebeof~o |ulnxd no xogualmof~lçÿor nd rer~oml

hlfbìxed&

Sdxåm! om bdmum sdno rox rlaeof~lnd |uo om ~dnlr lr opsoxeéfbelr l xoor~xu~uxlçâd hlfbìxel

slxobo ~ox xorua~lnd fuml re~ulçâd no bdfbof~xlçâd hlfbìxel! monelf~o l lndsçâd nl or~xl~ågel no

jurÿor o l|uereçÿor du roil l bdfrdaenlçâd nd rer~oml hlfbìxed! omhdxl dr fùmoxdr of~xo or~or

slíror roilm nejíboer no roxom o|ueslxlndr bdm d blrd no Mdçlmhe|uo&

D blrd no Mdçlmhe|uo! omhdxl mler uml zoy roil no rlaeof~lx |uo dr fùmoxdr râd nejíboer no

o|ueslxlx! bdfrenoxl-ro um ruborrd fd |uo ro xojoxo fd bxorbemof~d nl djox~l no bxåne~d

nejoxof~omof~o nd Hxlrea%&

Fâd dhr~lf~o lr nezoxgéfbelr dh~enlr! o ~ofnd om bdf~l dr jlb~dxor om bdmum hom bdmd dr no

ruborrd nor~l xoor~xu~uxlçâd sdno bdfrenoxlx-ro or~l xoor~xu~uxlçâd hom rubonenl! ld sxdmdzoxmoa`dxelr l fízoer flbedfler fd rer~oml hlfbìxed mdçlmheblfd! lboe~lfnd-ro lrrem l rogufnl

èsò~oro (@<%& Å emsdx~lf~o neyox! fd of~lf~d |uo lefnl oper~o um gxlfno blmef`d l soxbdxxox! du

roil! |uo d sxdborrd no xoor~xu~uxlçâd fâd bògdu ld jem! uml zoy |uo omhdxl ~of`l moa`dxlnd l

rdaenoy nd rer~oml hlfbìxed mdçlmheblfd fâd jde rujebeof~o slxl sxdmdzox d norofzdazemof~d nd

rer~oml slxl |uo sunorro l~efgex fízoer xogedfler o ef~oxflbedfler&




Rdxll Rlxl` Jlkex Bdrbedfo ?3

?&8 Xobdmofnlçÿor

Lr monenlr ~dmlnlr fd èmhe~d nl xoor~xu~uxlçâd hlfbìxel! omhdxl ~of`lm bdf~xehuínd slxl

lumof~lx l rdaenoy nd rer~oml hlfbìxed flbedfla! jlbeae~lfnd l of~xlnl no fdzdr lgof~or hlfbìxedr o

hdfejeblfnd lr blx~oexlr ndr hlfbdr bdmoxbeler! bdf~xehuefnd slxl l xonuçâd nl efr~lheaenlno ndrmoxblndr jeflfboexdr! xosxorof~lm lsoflr um sxemoexd slrrd jlbo ld norofzdazemof~d no um

rer~oml jeflfboexd no lbdxnd bdm lr opegéfbelr nd slír& L lhxlfgéfbel! nezoxrejeblçâd o

lborreheaenlno! ~xér dhiob~ezdr ~xlçlndr soad gdzoxfd slxl d norofzdazemof~d nd rer~oml jeflfboexd!

lefnl or~âd adfgo no rox lablfçlndr! rdhxo~und fd |uo ney xorsoe~d l lhxlfgéfbel ~oxxe~dxela o

lborreheaenlno ld bxåne~d&

L xor~luxlnl rdaenoy nd rer~oml hlfbìxed å d sxemoexd slrrd slxl sxdmdzox l ef~oxmonelçâd

jeflfboexl& Lr sdaí~eblr o lr xojdxmlr for~l ìxol nozom jdblaeylx-ro fl jlbeae~lçâd nd lborrd ld

bxåne~d! fl opslfrâd ndr roxzeçdr jeflfboexdr slxl lr ydflr xuxler o fl xonuçâd ndr bur~dr nl

ef~oxmonelçâd jeflfboexl! d |uo exì sxdsdxbedflx d lumof~d nl sduslfçl nlr jlmíaelr o no xobuxrdr

jeflfboexdr slxl d lmheof~o no fogòbedr &

Of~xo lr nomler lbçÿor l roxom ~dmlnlr! bdm zer~l l l~efgex dr dhiob~ezdr noaeme~lndr!

bdfrenoxlm-ro sxedxe~ìxelr lr roguef~or9

<% Jdx~laobemof~d nlr fdxmlr no rusoxzerâd o bdf~lheaenlno slxl mlf~ox l rdaenoy no um

rer~oml hlfbìxed om opslfrâd ‒ L ef~xdnuçâd no fdxmlr ef~oxflbedflamof~o lboe~or no

bdf~lheaenlno o rusoxzerâd hlrolnl fd xerbd! fd rer~oml hlfbìxed mdçlmheblfd! exì

jlbeae~lx d bdf~xdao o mdfe~dxlçâd nl lno|ulçâd ndr blse~ler fdr soxídndr no jdx~o

bxorbemof~d no bxåne~d& Ld lalxglx l lndsçâd nlr fdxmlr ef~oxflbedflamof~o lboe~or slxl

d rob~dx omsxorlxela soxme~ex-ro-ì ~lmhåm l xonuçâd nd xerbd no bxåne~d ld sxdmdzox l

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