N[K^NID @GIGXD\ HN GOFNOGN\ÀD ^OGHDH DKDHÇ@GKD HNI X\ÛRGKE

@kdi. DOXEOGE JE[Ç HN [^K\N

LEIGSGD

@DO^DI HN ^[^D\GE HN [XD\^@I.

N[X^HGDOXN[:
DHMN@D\ KERDJG\D XGKIID M44;-7
@EOGKD DWKD RD[K^DI M4<=-6
\ELN\XE K. EIGSN\D GIIDON[ m48>-6

HEKNOXN: GOF. WEAEOHD F^XGN\\NZ KDIGZDWD

@DXN\GD: DODIG[G[ W HG[NÔE HN [G[XN@D[
[G[XN@D[
CNKMD HN NOX\NFD: ;2/2=/<2<4
X\ÛRGKE, <2<4
µTuç ns ni stdr^@I5

[tdr^@I ns uod mnrrd`gnotd pdrd ni `ehnid`gnote hn sectwdrn ldsdhe no ies

nstäohdrns ^@I (^ogcgnh @ehnigof Idofudfn) y @HD (@ehni Hrgvno Drqugtnkturn),
qun no uo prgokgpge nrd uo prehukte ke`nrkgdi y qun mdkn knrkd hn uo dôe pdse hn

snr uo preynkte ke`nrkgdi (dotnrger`notn iid`dhe pidstgk) d uoe hn igknokgd dlgnrtd

FO^/FRI

µTuç HGDF\D@D[ R^NHN \NDIGZD\5

 Hgdfrd`d hn kdses hn use

 Hgdfrd`d hn kidsn
 Hgdfrd`d hn snkunokgd
 Hgdfrd`d hn keidlerdkgûo.
 Hgdfrd`d hn nstdhes
 Hgdfrd`d hn dktgvghdh.
 Hgdfrd`d hn ke`peonotns
 Hgdfrd`d hn hnspignfun.
 Hgdfrd`d hn ke`pesgkgûo nstrukturdi (^@I <.2)

KD\DKXN\À[XGKD
[ectwdrn iglrn.
Hncgogrr nin
Hncgog nin`not
`notes
es pre
prepges
pges pdr
pdrd
d ies hgd
hgdfrd`
frd`ds,
ds, qun oe onknsdrg
onknsdrgd`n
d`notn
otn
pnrtnonzkdo di nstäohdr hn ^@I,
Id kdpdkghdh hn fnonrdr kûhgfe d pdrtgr hn ies hgdfrd`ds y vgknvnrsd,
dktudi`notn cuokgeodohe pdrd ies inofudjns k++, k# y jdvd.
Fnonrdr heku`notdkgûo no cer`dtes Verh, Nxkni y RewnrRegot selrn ies
hgdfrd`ds.
Rdtreo
reons FeC (Fdof ec Ceur
ur)) , NJL (N
(Not
otn
nrpr
rprgsn Jdv
dvd
dLndo
doss) y
pnrseodigzdhes.
Ridotgiids hn preynktes.
Resglgighdh hn krndr piufgos pdrd ni prefrd`d.
<
No hncgogtgvd, nstd ns uod hn ids `njerns ditnrodtgvds frdtgs qun mdy no Gotnront
pdrd ni `ehnid`gnote hn sectwdrn y preldlin`notn uod frdo dyuhd d id merd hn
prefrd`dr junfes.

HN[SNOXDJD
 @njerns tgn`pes tetdins hn hnsdrreiie (hn >2 % e `äs).
 @ehnidr sgstn`ds (y oe sûie hn sectwdrn) utgigzdohe keoknptes ergnotdhes
d eljntes.
 Nstdlinknr keoknptes y drtncdktes njnkutdlins.
 Nokd`godr ni hnsdrreiie hni nskdid`gnote no sgstn`ds ke`pinjes hn
`gsgûo kràtgkd.

4. Gostdidkgûo y njnkukgûo hn [tdr^@I.

Rrg`nre hnln`es gostdidr ni sectwdrn qun sn utgigzdrä. [tdr^@I ns uo sectwdrn hn

kûhgfe dlgnrte keo igknokgd snfúo ni dkunrhe FRI (Igknokgd púligkd FO^) y nstä
hgspeoglin pdrd su hnskdrfd frdtugtd.

-hnskdrfdr ni sectwdrn hn [tdr^@I Id kudi hnskdrfd no drkmgve zgp.rdr

Hnskdrfd no ni
ni sgstn`d epnrdtgve qun utgigzd

;
- hd`es kigk hnrnkme y in hd`es nxtrdnr dquà

Rdse
Rdse ;:^o
^od
d vnz
vnz el
eltn
tnog
oghe
he ni sntu
sntup
p rnk
rnknpt
npter
er he
heli
lin
n ki
kigk
gk,, ke`e
ke`e no kudi
kudiqu
qugn
gnrr
gostdidkgûo in hd`es onxt n gostdidr

8
hnskdrfdr id dpigkdkgûo: mttps://stdru`i.ge/hewoiedh no oni sgfunotn n
noidkn
oidkn

>
Ke`e krndr hgdfrd`ds hn kidsns no [tdr^@I

Dfrnfdr ounvd kidsn

Dfrnfdr dtrglutes

Dfrnfdr epnrdkgeons

Dfrnfdr sulkidsn Dfrnfdr pdrä`ntre hn

pidoiid
Sgsglgighd
Dfrnfdr rnknpkgûo

Dfrnfdr supnrkidsn
Dôdhgr oetd
Dfrnfdr gotnrcdz
Dfrnfdr preperkgeodhd

Dfrnfdr gotnrcdz
Dfrnfdr pdrtn
rnqunrghd
Dfrnfdr dsekgdkgûo

Dôdhgr dfrnfdkgûo

Dfrnfdr ke`pesgkgûo

3
Ke`e krndr hgdfrd`d hn kdses hn use no [tdr^@I
^o kdse hn use ns uod hnskrgpkgûo hn ids dkkgeons hn uo sgstn`d hnshn ni puote

hn vgstd hni usudrge. Ns uod mnrrd`gnotd vdigesd hdhe qun ns uod tçkogkd hn

6
dkgnrtes
dkgnrtes y nrrerns pdrd eltnon
eltnonrr ies rnqunrg`gnotes
rnqunrg`gnotes hni sgstn
sgstn`d,
`d, justd`not
justd`notn
n hnshn
ni puot
puote
e hn vgst
vgstd
d hn
hnii usud
usudrg
rge.
e. Ie
Iess hg
hgdf
dfrd
rd`d
`dss hn kdse
kdse hn us
use
e `e
`ehn
hnid
ido
o id
cuokgeodighdh hni sgstn`d usdohe dkterns y kdses hn use. Ies kdses hn use seo
snrvgkges e cuokgeons prevgstds per ni sgstn`d pdrd sus usudrges.

Rdrd ni hgsnôe hni kdse hn use oes hgrgfg`es d id pdrtn supnrger gzqugnrhd hn id
vnotdo
vnotdod
d ninfg`
ninfg`es
es id epkg
epkgûo
ûo ¸¸CG
¸¸CGIN¸¸
IN¸¸ qun tgnon
tgnon per hnc
hncnkt
nkte
e in hd`
hd`es
es kig
kigkk y
ninfg`es id snfuohd epkgûo ¸¸Onw Cre` Xç`pidtn¸¸ iunfe oes hgrgfg`es d id
ounvd pnstdôd qun oes dpdrnkn y ninfg`es id snfuohd epkgûo ounvd`notn ¸¸^@I
Keovnotgeodi¸¸.

=
Ids mnrrd`gnotds
mnrrd`gnotds pdrd ni hgsnôe hni hgdfrd`d hn dse hn use sn nokunot
nokunotrdo
rdo no id
pdrtn gocnrger gzqugnrhd hn id vnotdod

[gstn`d Ni rnktäofuie rnprnsnotd ies ià`gtns hni sgstn`d qun keotgnon ies kdses hn
use. Ies dkterns sn ulgkdo cunrd hn ies ià`gtns hni sgstn`d.

Kdses hn ^se [n rnprnsnotdo keo ûvdies. Id ntgquntd no ni ûvdie gohgkd id cuokgûo

hni sgstn`d.

Dkterns Ies dkterns seo ies usudrges hn uo sgstn`d.

\nidkgeons Ids rnidkgeons notrn uo dkter y uo kdse hn use, sn hglujdo keo uod
iàond sg`pin. Rdrd rnidkgeons notrn kdses hn use, sn utgigzdo cinkmds ntgquntdhds
"g
"gok
okiu
iugr
gr"" e "n
"nxt
xtnoh
nohnr.
nr."" ^o
^od
d rni
rnidk
dkgû
gûo
o "goki
"gokiug
ugr"
r" go
gohg
hgkd
kd qu
qun
n uo kds
kdse
e hn use
use ns
onknsgtdhe per etre pdrd pehnr ku`pigr uod tdrnd. ^od rnidkgûo "nxtnohnr" gohgkd
epkgeons ditnrodtgvds pdrd uo kgnrte kdse hn use.

Ke`e krndr hgdfrd`d hn snkunokgd no [tdr^@I

Mdkn`es kigk no ni `noú hn `ehnie hn epkgeons y sninkkgeod`es hgdfrd`d hn

snkunokgd

7
^od vnz dmà sn keiekd ni oe`lrn qun qugnrd

^od vnz rndigzdhe, oes `unstrd ies ke`peonotns qun tgnon ni hgdfrd`d pdrd
pehnr rndigzdr ni rnspnktgve `ehnidhe hgdfrd`d hn snkunokgds.

42
[n krndo ids notghdhns keo ies oe`lrns qun ni usudrge ie rnqugnrd no nstn kdse sn
keieke ’usudrge‐ y ’di`dkço‐, iunfe sn rndigzd uod prnfuotd sninkkgeodohe id
epkgûo hn ’@nssdfn‐

Rdrd pehnr hnveivnr id rnspunstd d id prnfuotd sninkkgeod`es id epkgûo hn

’\npiy @nssdfn‐

44
Rdrd pehnr rndigzdr id prnfuotd hn uod notghdh sn sninkkgeod id epkgûo hn ’[nic
@nssdfn‐.Dsà ns ke`e sn vd rndigzdohe ni `ehnidhe hn hgdfrd`d hn snkunokgd
no [tdr^@I keo ies pdses gohgkdhes.

4<
Ke`e krndr hgdfrd`d hn pdquntns.

4;
Ies hgdfrd`ds hn pdquntns seo hgdfrd`ds nstrukturdins qun sn n`pindo pdrd
`estrdr id erfdogzdkgûo y hgspesgkgûo hn hgvnrses nin`notes hn uo `ehnie no
cer`d hn pdquntns. ^o pdquntn ns uod dfrupdkgûo hn nin`notes ^@I
rnidkgeodhes, ke`e hgdfrd`ds, heku`notes, kidsns e, gokiuse, etres pdquntns.

Rdquntn prgokgpdi

[gstn`d

[ul-sgstn`d

Rdrd id krndkgûo hni hgdfrd`d hn pdquntns oes hgrgfg`es d id epkgûo hn id vnotdod

prgokgpdi no id pdrtn supnrger gzqugnrhd d id epkgûo ’@ehni‐ dhgkgeod`es uo ounve
hgdfrd`d ninfg`es id epkgûo hgdfrd`d hn pdquntns ’Rdadfn Hgdfrd`‐

48