5HTXLVLWLGHOUHJRODWRUH
&RQTXHVWRDSSDUHFFKLRGHYHHVVHUHXWLOL]]DWRXQUHJRODWRUH
8WLOL]]DUHVRORLOUHJRODWRUHGHOJDVIRUQLWRLQGRWD]LRQHFRQLO
EDUEHFXH6HLOUHJRODWRUHQRQIDSDUWHGHOODGRWD]LRQH
XWLOL]]DUHVRORXQUHJRODWRUHFHUWLILFDWRVHFRQGRODQRUPD
(1SRUWDWDPDVVLPDNJRUDHDSSURYDWRSHULO
SURSULR3DHVHHLOJDVVSHFLILFDWRQHL'DWL7HFQLFL
5HTXLVLWLGHLWXELIOHVVLELOL
8WLOL]]DUHVRORXQWXERIOHVVLELOHDSSURYDWRFKHVLDFHUWLILFDWR
VHFRQGRLUHTXLVLWLGHOODQRUPDWLYD(1HFKHQRQVXSHUL
PHWULGLOXQJKH]]D3HUOD)LQODQGLDODOXQJKH]]DGHOWXER
IOHVVLELOHQRQGHYHVXSHUDUHPHWUL
3ULPDGLRJQLXWLOL]]RYHULILFDUHFKHLWXELIOHVVLELOLQRQSUHVHQWLQR
WDJOLRVHJQLGLXVXUD$FFHUWDUVLFKHLOWXERIOHVVLELOHQRQVLD
SLHJDWR$FFHUWDUVLFKHXQDYROWDFROOHJDWRLOWXERIOHVVLELOHQRQ
YHQJDDFRQWDWWRFRQVXSHUILFLFDOGH6RVWLWXLUHLWXELIOHVVLELOL
GDQQHJJLDWLSULPDGLXWLOL]]DUHODSSDUHFFKLR6RVWLWXLUHLOWXER
IOHVVLELOHFRPHULFKLHVWRGDOOHQRUPDWLYHQD]LRQDOL
6XJJHULPHQWLSHUODVLFXUH]]D
y
3ULPDGLDSULUHODYDOYRODGHOODERPERODGHOJDVFRQWUROODUH
ODWHQXWDGHOUHJRODWRUH
y
6HODSSDUHFFKLRQRQqLQXVRVSHJQHUHWXWWHOHPDQRSROHGL
FRQWUROORHLOJDV
y
8WLOL]]DUHXWHQVLOLGDEDUEHFXHFRQPDQLFROXQJRHJXDQWLGD
IRUQRSHUHYLWDUHXVWLRQLHVFKL]]L8WLOL]]DUHJXDQWLSURWHWWLYL
TXDQGRVLPDQHJJLDQRFRPSRQHQWLFDOGL
y
,OFDULFRPDVVLPRSHUODSLDVWUDFDOGDHLOULSLDQRODWHUDOHqGL
NJ5HFLSLHQWHGLFRWWXUDFRQGLDPHWURPLQLPRGLPP
HGLDPHWURPDVVLPRGLPP
y
/DFRSSDUDFFRJOLJUDVVLVHSUHVHQWHGHYHHVVHUHLQVHULWD
QHOODSSDUHFFKLRHVYXRWDWDGRSRRJQLXWLOL]]R1RQ
ULPXRYHUHODFRSSDUDFFRJOLJUDVVLSULPDGHOFRPSOHWR
UDIIUHGGDPHQWRGHOODSSDUHFFKLR
y
)DUHPROWDDWWHQ]LRQHTXDQGRVLDSUHLOFRSHUFKLRLQTXDQWR
SRWUHEEHIXRULXVFLUHGHOYDSRUHFDOGR
y
)DUHPROWDDWWHQ]LRQHTXDQGRVRQRSUHVHQWLEDPELQL
DQ]LDQLRDQLPDOLQHOOHYLFLQDQ]H
y
6HVLQRWDJUDVVRRDOWURPDWHULDOHFDOGRJRFFLRODUH
GDOODSSDUHFFKLRVXOODYDOYRODVXOWXERRVXOUHJRODWRUH
VSHJQHUHLPPHGLDWDPHQWHODOLPHQWD]LRQHGHOJDV
'HWHUPLQDUHODFDXVDFRUUHJJHUODTXLQGLSXOLUHH
LVSH]LRQDUHODYDOYRODLOWXERIOHVVLELOHHLOUHJRODWRUHSULPD
GLFRQWLQXDUH(VHJXLUHXQDSURYDGLWHQXWD
y
1RQULSRUUHRJJHWWLRPDWHULDOLDOOLQWHUQRGHOPRELOHFDUUHOOR
GHOODSSDUHFFKLRFKHSRWUHEEHUREORFFDUHLOIOXVVRGHOODULDGL
FRPEXVWLRQHVXOODSDUWHLQIHULRUHGHOSDQQHOORGLFRQWUROORR
GHOODFLRWRODGHOIRFRODUH
y
121VFROOHJDUHRVRVWLWXLUHLOFRQWHQLWRUHGLJDVHQWURXQD
GLVWDQ]DGLPHWULGDXQDILDPPDOLEHUDRDOWUDIRQWHGL
DFFHQVLRQH
$99(57(1=$
5XRWDUHOHPDQRSROHGLFRQWUROORHODERPERODGHOJDV
LQSRVL]LRQHVSHQWD2))TXDQGRQRQLQXVR
6HODFFHQVLRQH121DYYLHQHHQWURVHFRQGLUXRWDUHOH
PDQRSROHGLFRQWUROORGHOEUXFLDWRUHLQSRVL]LRQH´VSHQWDµ
¬ DWWHQGHUHPLQXWLHULSHWHUHODSURFHGXUDGLDFFHQVLRQH
6HLOEUXFLDWRUHQRQVLDFFHQGHFRQODYDOYRODDSHUWDLOJDV
FRQWLQXHUjDIOXLUHIXRULGDOEUXFLDWRUHHSRWUHEEH
DFFLGHQWDOPHQWHLQFHQGLDUVLFRQULVFKLRGLOHVLRQL
$77(1=,21(
,VWUX]LRQL*DV,OOXPLQD]LRQHDFFHQGLWRUH
1RQVSRUJHUVLVRSUDLOEDUEHFXHGXUDQWHODFFHQVLRQH
5XRWDUHOHYDOYROHGLFRQWUROORGHOEUXFLDWRUHGHOJDVLQ
SRVL]LRQH³VSHQWD´ RII
$SULUHLOFRSHUFKLRGXUDQWHODFFHQVLRQHRODULDFFHQVLRQH
$FFHQGHUH21LOJDVLQSURVVLPLWjGHOODERPERODGLJDV
SURSDQROLTXLGR3/
3HUDFFHQGHUHVSLQJHUHHUXRWDUHODPDQRSRODDFFHQVLRQHGHO
EUXFLDWRUH
D$/72
,PPHGLDWDPHQWHVSLQJHUHHWHQHUH
SUHPXWRLOSXOVDQWH,*1,725(/(77521,&$ILQRDGDFFHQVLRQH
DYYHQXWD
6HODFFHQVLRQH121DYYLHQHHQWURVHFRQGLUXRWDUHOH
PDQRSROHGLFRQWUROORGHOEUXFLDWRUHLQSRVL]LRQH³VSHQWD´
3HUDFFHQGHUHLEUXFLDWRULULPDQHQWLUXRWDUHODPDQRSRODLQ
SRVL]LRQH³DOWR´ +,*+SDUWHQGRGDLEUXFLDWRULSLYLFLQLDO
SULPR%58&,$725(',$&&(16,21(L
$FFHQVLRQHFRQILDPPLIHUL
1RQVSRUJHUVLVRSUDLOEDUEHFXHGXUDQWHODFFHQVLRQH
5XRWDUHOHYDOYROHGLFRQWUROORGHOEUXFLDWRUHGHOJDVLQ
SRVL]LRQH³VSHQWD´ RII
$SULUHLOFRSHUFKLRGXUDQWHODFFHQVLRQHRODULDFFHQVLRQH
$FFHQGHUH21LOJDVLQSURVVLPLWjGHOODERPERODGLJDV
SURSDQROLTXLGR3/
0HWWHUHXQILDPPLIHURQHOVXSSRUWRSHUILDPPLIHULDSSHVRDO
SDQQHOORODWHUDOHGHOEDUEHFXH$FFHQGHUHLOILDPPLIHURTXLQGL
DFFHQGHUHLOEUXFLDWRUHPHWWHQGRIDFHQGRSDVVDUHLOILDPPLIHUR
DOOLQWHUQRGHOIRURGLDFFHQVLRQHVXOODWRGHOEDUEHFXH
6SLQJHUORLPPHGLDWDPHQWHDOOLQWHUQRHUXRWDUHODPDQRSRODGHO
EUXFLDWRUHLQSRVL]LRQH³DOWR´
¬
+,*+$FFHUWDUVLFKH
ODFFHQVLRQHVLDDYYHQXWDHULPDQJDDFFHVD
$FFHQGHUHLEUXFLDWRULDGLDFHQWLLQVHTXHQ]DVSLQJHQGROH
PDQRSROHHUXRWDQGROHLQSRVL]LRQH³DOWR´ +,*+
&+ ,7
3RVL]LRQDPHQWRGHOODERPEROD
,OFLOLQGURQRQSXzHVVHUHSRVWRVRWWRRDOOLQWHUQR
GHOODSSDUHFFKLRFLOLQGULVRQRGDSRVL]LRQDUHDODWRHSRVWHULRUH
GHOODSSDUHFFKLR,FLOLQGULVRQRHVVHUHXQGLDPHWURPDVVLPRGL
PLOOLPHWULHODOWH]]DPDVVLPDGLPP&LOLQGULSRVL]LRQDWLD
WHUUDQRQVRQRSRVWHVRWWRODSLDVWUDFDOGD
Summary of Contents for 468300217
Page 96: ... 3 576 5 0 ...
Page 97: ... 66 0 5 55 5 ...
Page 98: ... ...
Page 99: ... ...
Page 100: ... ...
Page 101: ... 67 1 5 7 7LJKWHQ WKH VFUHZV ...
Page 102: ... 67 1 5 7 7LJKWHQ WKH VFUHZV ...
Page 103: ... 67 5 1 ...
Page 104: ... 25 02 6 ...
Page 108: ... ...
Page 109: ... ...
Page 112: ... J J ...
Page 113: ... J ...
Page 115: ... ...
Page 122: ... ...
Page 123: ... ...