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(CD CPQ 5G CU (GTPCPFGU


7P XGTU FCFG (GFGTCN FQ GCT

DUVTCEV 6JG RTGUGPV CTV ENG TGX GYU VYQ


TC N CP 2QTVWIWGUG
VTCPUNCV QPU QH (TGPEJ RQGV ,CESWGU 2TXGTV U RQGO /GC WNRC D[
5 NX CPQ 5CPV CIQ CPF / T Q .CTCPLG TC V CNUQ EQOOGPVU QP .CTCPLG TC U
ET V E UO QH 5CPV CIQ U VTCPUNCV QP
QVJ VJG EQOOGPVCT[ QP VJG T
VTCPUNCV QPU CPF VJG EQOOGPVCT[ QP .CTCPLG TC U ET V E UO FTCY WRQP
PVQ PG GTOCP U EQPEGRVU QH VTCP NCV P
V P CPF VTCP NCV P T LGEV
P N IJV QH VJGUG EQPEGRVU V U RQUU DNG VQ UGG VJCV CRCTV HTQO
VJG VJGQTGV ECN CPF CPCN[V ECN UQWPFPGUU QH .CTCPLG TC U EQOOGPVCT[ J U
ET V E UO QH 5CPV CIQ U VTCPUNCV QP FQGU PQV VCMG VJG NCVVGT U VTCPUNCV QP
RTQLGEV PVQ CEEQWPV CPF VJGTGHQTG F UTGICTFU J U VTCPUNCV QP GORJCUGU CPF
EQOO VOGPVU ( PCNN[ C VJ TF VTCPUNCV QP U RTQRQUGF PQV CU UWDUV VWVG
VQ VU HQTGTWPPGTU DWV CU VJG T EQPV PWCVQT CPF CU QPG OQTG N PM P C
EQPV PWQWU EJC P QH TGVTCPUNCV QPU
-G Y TFU ,CESWGU 2TXGTV 5 NX CPQ 5CPV CIQ / T Q .CTCPLG TC /GC
WNRC 6TCPUNCV QP ET V E UO

2QUUW ITCFWC Q GO . EGPE CVWTC GO NGVTCU PIN U


G QWVQTCFQ GO
. VGTCVWTC
CODQU RGNC 7P XGTU FCFG (GFGTCN FG 5CPVC CVCT PC VWQW
EQOQ 2TQHGUUQT 5WDUV VWVQ PC OGUOC PUV VW Q
VWCNOGPVG RTQHGU
UQT FLWPVQ P XGN
FG . PIWC PINGUC G . VGTCVWTCU RGNC 7P XGTU FCFG (GFGTCN
FQ GCT RTQHGUUQT FC 2 U )TCFWC Q GO UVWFQU FC 6TCFW Q 21 6 7(
(QTVCNG C GCT
TCU N
OC N HDPHPFU IOC N EQO

UVC QDTC WV N C WOC N EGPC TGCV XG QOOQPU


JVVRU ETGCV XGEQOOQPU QTI N EGPUGU D[

(CD CPQ 5G CU (GTPCPFGU

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7.2
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4GUWO 1 RTGUGPVG CTV IQ UG RTQR G C EQOGPVCT CU VTCFW GU RCTC Q
RQTVWIW U FQ TCU N FQ RQGOC /GC WNRC FQ RQGVC HTCPE U ,CESWGU
2TXGTV TGCN CFCU RQT 5 NX CPQ 5CPV CIQ G / T Q .CTCPLG TC DGO EQOQ
EQOGPVCT C ET V EC HG VC RQT .CTCPLG TC VTCFW Q FG 5CPV CIQ 6CPVQ Q
EQOGPV T Q U VTCFW GU SWCPVQ ET V EC FG .CTCPLG TC GODCUCO UG PQU
EQPEG VQU FG
VTC V T C G T LGV G VTC
FG PVQ PG GTOCP
6GPFQ GO X UVC GUVGU EQPEG VQU RQUU XGN EQPUVCVCT SWG PFGRGP
FGPVGOGPVG FC RGTV P PE C FC CP N UG SWG .CTCPLG TC HC FQ RQGOC UWC
ET V EC VTCFW Q FG 5CPV CIQ IPQTC Q RTQLGVQ VTCFWV T Q FGUVG G RQTVCPVQ
UWCU PHCUGU G EQORTQO UUQU CQ VTCFW T Q H PCN WOC VGTEG TC VTCFW Q
FQ RQGOC RTQRQUVC P Q EQOQ CNVGTPCV XC U CPVGT QTGU OCU EQOQ EQP
V PWCFQTC FGUVCU G FC ECFG C FG TGVTCFW GU
2CNC TCU EJC G ,CESWGU 2TXGTV 5 NX CPQ 5CPV CIQ / T Q .CTCPLG TC
/GC WNRC T V EC FG VTCFW GU

P
TC N CP ET V E 5 NX CPQ 5CPV CIQ UGNGEVGF RTGHCEGF
CPF VTCPUNCVGF C PWODGT QH RQGOU D[ (TGPEJ RQGV ,CESWGU 2TXGTV
COQPI YJ EJ JG PENWFGF VJG UOCNN /GC WNRC
P
TC N CP VTCPUNCVQT CPF ET V E / T Q .CTCPLG TC YQWNF RWDN UJ
P (TGPEJ CP CTV ENG P YJ EJ JG EQOOGPVGF 5CPV CIQ U TGPFGT PI QH
/GC WNRC CPF RTQRQUGF CP GFWECVGF TGVTCPUNCV QP PIN UJ CPF
TC N CP 2QTVWIWGUG VTCPUNCV QPU QH .CTCPLG TC U CTV ENG YQWNF DGEQOG
CXC NCDNG P
YJGP TC N CP LQWTPCN V
CP C
PENWFGF
VJGO P VU VJ UUWG C URGE CN PWODGT QP RQGV E VTCPUNCV QP
UJQWNF N MG VQ RTQX FG C VTGDNG EQPVT DWV QP VQ .CTCPLG TC U
ET V ECN G GTE UG D[ EQOOGPV PI QP DQVJ VTCPUNCV QPU QH /GC
WNRC G RCPF PI QP .CTCPLG TC U EQOOGPVU CPF QHHGT PI C VJ TF
VTCPUNCV QP QH VJG UCOG RQGO Y NN P V CNN[ G RNC P .CTCPLG TC U
X GY CPF UWOOCT G J U CPCN[U U QH 5CPV CIQ U VTCPUNCV QP UGEV QP
CP G RCPFGF CPCN[U U QH /GC WNRC Y NN HQNNQY UGEV QP
YJ EJ Y NN NGCF VQ CP PVGTRTGVCV QP QH VJG RQGO UGEV QP
DQVJ
VTCPUNCV QPU Y NN VJGP DG TGX GYGF CPGY UGEV QPU VQ
5CPV CIQ U

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

VJ T GTV E OOGPVCT

P DTC N CP

TV

G G VTCP NCV P

VTCPUNCV QP Y NN DG TGCRRTC UGF UGEV QP


CU Y NN .CTCPLG TC U
VTCPUNCV QP CPF ET V E UO UGEV QPU
CPF
CV NCUV C VJ TF
VTCPUNCV QP Y NN DG RTQRQUGF CPF VU RTQLGEV G RQUGF UGEV QP
PVQ PG GTOCP U EQPEGRVU QH VTCP NCV P
V P CPF VTCP NCV P
T LGEV
Y NN IW FG ET V SWG VQ VTCPUNCVQT VTCPUNCV QPU CPF
.CTCPLG TC U VTCPUNCV QP ET V E UO
.CTCPLGKTC U CPCN UKU UGPUG CPF UKIPKHKECPEG
/GC EWNRC
G V OC C VG
G V OC C VG
G V OC VT
TCP G C VG
8 N E OOGPV L ET
TC G
,CESWGU 24 8 46

TVJ TC JG

TTG
TTG
3WG GPQTOG GTTQ FG QTVQITCH C
U EQOQ GUETGX
) TTCHC
VTCF 5 NX CPQ 5 06 )1

/ PJC EWNRC
/ PJC EWNRC
/ PJC O OC EWNRC GO QTVQITCH C
8GLCO EQOQ GUETGX
CUU C
VTCF / T Q . 4 0 4

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

(CD CPQ 5G CU (GTPCPFGU

P /GCP PI CPF U IP H ECPEG P RQGV E VTCPUNCV QP


.CTCPLG TC OCFG UVTWEVWTCN EQOOGPVU CDQWV 2TXGTV U RQGO CPF VU
VTCPUNCV QP D[ 5CPV CIQ YJ EJ HQUVGTGF J U QYP TGVTCPUNCV QP * U
UVCTV PI RQ PV U C F UV PEV QP DGVYGGP GJ E NCT VG V OGCP PI CPF
TGHGTGPEG HQEWUGF VG VU VJG VTCPUNCV QP QH YJ EJ YQWNF FGOCPF
UVT EV CVVGPV QP VQ OGCP PI
R
CPF GV E VG V
U IP H GT EGPVGTGF VG VU ODWGF Y VJ YJCV 4 HHCVGTTG
ECNNU
P ECPEG
5 IP H ECPEG U TGURQPU DNG HQT QRGP PI VJG OGCP PI VQ OWN
V RNG TGCF PIU CNN QH VJGO RNCWU DNG CPF VJ U U QPG QH VJG
VTCFGOCTMU QH VJG RQGV E VG V ? 4 HHCVGTTG
R UU
TGUGTXGU VJG VGTO OGCP PI HQT VJG PHQTOCV QP RTQX FGF D[
VJG O OGV E VG V CPF WUGU VJG VGTO U IP H ECPEG VQ FGU I
PCVG VJ U HQTOCN CPF UGOCPV E WP V VJCV EQPVC PU VJG NGXGNU QH
QDN SW V[
R

P C YC[ U IP H ECPEG FGVGTO PGU VJG IQCNU CPF OGVJQF QH RQGV E


VTCPUNCV QP
6JG VTCPUNCVQT QH C RQGO UJQWNF VJWU JCXG DGHQTG J U VG V
CP CVV VWFG SW VG F HHGTGPV HTQO VJCV QH VJG VTCPUNCVQT QH C
XGJ ENG VG V 9J NG VJG NCVVGT VTCPUNCVGU GURGE CNN[ VJG OGCP
PI VJG HQTOGT OWUV P J U TGYT V PI QRGTCV QP C
PV
J VG V VJG GE E P ECPEG VJG T PCN GO YJ EJ
U VU FGPV H ECV QP ECTF
WV CU VJG VTCPUNCVQT U CEV X V[ CN C DG P
VJ TGC P
VJ U TGCFGT YT VGT OWUV VCMG PV CEE PV CNN VJG G CEV VJCV
CTG D GT CDNG CP
GPV CDNG C TG P DNG T VJG G
OCPV E DN
V
VJG GO G VJG VG VWCN OCTMGTU QH
U IP H ECPEG CPF YQTM VQ TGEQXGT VJGO P VJG VG V JG RTQ
FWEGU R
GORJCUGU CFFGF

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

VJ T GTV E OOGPVCT

P DTC N CP

TV

G G VTCP NCV P

9G ECP UC[ Y VJ GTOCP


VJCV .CTCPLG TC G RN E VN[
PF ECVGU VJG VTCP NCV P
V P G JQY JG X GYU VTCPUNCV QP
CPF VJG VTCP NCV P T LGEV G JQY JG Y UJGU VQ VTCPUNCVG WRQP
YJ EJ JG Y NN DCUG J U TGVTCPUNCV QP QH /GC WNRC
U Y NN
DGEQOG GX FGPV NCVGT V U OQV XCVGF D[ VJG RGTEG XGF HNCYU P
5CPV CIQ U TGPFGT PI
.GV WU DT GHN[ TGX GY VJG OC P RQ PVU QH .CTCPLG TC U CPCN[U U P
J U SWGUV HQT TGEQXGT PI VJG RQGO U U IP H ECPEG
6JG V VNG QH VJG RQGO U C VG V CN PVGT TGVCPV P VJCV V TG
HGTU VQ VJG P VG T C RTC[GT YJ EJ U RCTV QH VJG JT UV CP
VTCF V QP CPF VJCV P GCEJ NCPIWCIG EWNVWTG JCU C ECPQP ECN
QHH E CN HQTOWNC C H GF HQTO 2TXGTV TGRTQFWEGU XGTDCV O
RCTV QH VJG ECPQP ECN VG V P (TGPEJ
GUV OC HCWVG E GUV
OC HCWVG E GUV OC VT U ITCPFG HCWVG 9G CTG OOGTUGF
VJTQWIJ VJ U PVGTRTGVCPV
P VJG
V
VJG JT V CP
T V CN QH U P CPF HQTI XGPGUU
WV VQ VJG TGCFGT U UWTRT UG
T IJV P VJG O FFNG QH VJG RQGO VJGTG U C TWRVWTG ECWUGF D[
VJG FWCN U IP C VG YJ EJ CNVJQWIJ DGNQPI PI VQ VJG UQVQR[
QH TGN I QP ECUVU WU D[ VU FGVGTO PCPV
TVJ TC JG
P VJG V
VJG EJ N P YJ EJ VJG GPV TG UGSWGPEG
QH VJG VG V U U VWCVGF 6JG OQFG QH G RCPU QP QH VJG OCVT
QT VJG ITCOOCT QH U IP H ECPEG U VJGTGHQTG HQEWUGF QP C
VG VWCN PVGTRTGVCPV
P VG T CPF QP C FWCN U IP C VG
RR
GORJCUGU CFFGF

*G UC[U VJG HQNNQY PI QH 5CPV CIQ U TGPFGT PI


6JG VTCPUNCVGF VG V GPV TGN[ NQUV VJG RQGV E V[ QH VJG QT I PCN
HQT VJG U ORNG TGCUQP VJCV VJG VTCP NCV T C PCDNG V
OC PVC P VJG TCOOCT
P ECPEG G P VJG VCTIGV VG V
VJG VG VWCN PVGTRTGVCPV YJ EJ YQWNF DG VJG ECPQP ECN VG V
QH VJG P VG T P PIN UJ /[ HCWNV O[ HCWNV O[ OQUV
IT GXQWU HCWNV
CPF VJG FWCN U IP F UCRRGCT GF? F
R
GORJCU U CFFGF

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

(CD CPQ 5G CU (GTPCPFGU

*G CNUQ EQOOGPVU J U QYP TGVTCPUNCV QP P EQPVTCUV Y VJ 5CPV CIQ U


6JWU P CFF V QP VQ OC PVC P PI VJG PVGTRTGVCPV CPF VJG UJ HV
HTQO VJG UQVQR[ QH TGN I QP VQ VJG UQVQR[ QH UEJQQN
UQOG QVJGT GNGOGPVU QH U IP H ECPEG UWEJ CU VJG TJ[VJO QH
VJG QT I PCN CPF VJG RT OCE[ QH VJG OCVGT CN GNGOGPV QH VJG
U IP QXGT VJG EQPEGRV ECP CNUQ DG OC PVC PGF 7PFQWDV
GFN[ D[ VTCPUNCV PI
TC G
TTC G U E? 5CPV CIQ U
VTCPUNCV QP HQT DC C N VGTCNN[ E GVVG QT DC P P
(TGPEJ DCU P P PIN UJ
F F UQOGVJ PI VQVCNN[ PEQP
EG XCDNG P RTCIOCV E VTCPUNCV QP DWV RGTHGEVN[ RNCWU DNG P
RQGV E VTCPUNCV QP
PFGGF YJGP 2TXGTV EJQUG VJG YQTF I TCHHG VQ GPF J U
VG V JG
P V
V DGEC G
V GOCPV E E O PGPV
? DWV HQT VYQ URGE H E TGCUQPU H TUV HQT VJG RJQP E TG
EWTTGPEG TVJ TC JG TC G CPF VJGP DGECWUG VJG FQWDNG
EQPUQPCPV H P VJCV YQTF U CV VJG NGXGN QH URGNN PI QPN[
Y VJ PQ RJQP E QT RJQPGO E EQPUGSWGPEG
V U VJG UCOG Y VJ VJG YQTF DC C YJQUG EQTTGEV URGNN
PI P 2QTVWIWGUG U DCE C YJ EJ TJ[OGU Y VJ TV TC
C CPF EQPVC PU C UVT EVN[ URGNN PI GTTQT 1PN VJG OCVG
T CN GNGOGPV
VJG T GTG E P GTG 9GNN 5CPV CIQ U
QRV QP D[ CVVGORV PI VQ OC PVC P VJG EQPEGRVWCN GNGOGPVU
QH
TC G
TC C P 2QTVWIWGUG NQUV VJG RJQP E TGEWT
TGPEG CPF C G C J PGV E GTT T V VJG GNN P GTT T P
2QTVWIWGUG VJG PVGTXQECN E TT FQWDNG T U RTQPQWPEGF
F HHGTGPVN[ HTQO VJG PVGTXQECN E T U PING T
RR
GORJCUGU CFFGF

.CTCPLG TC U VCMG QP VJG RQGO OC[ DG UWOOCT GF CU EQORT U PI


VJG HQNNQY PI HGCVWTGU
06 46 67 . VJG RQGO U OCLQTN[
EQORQUGF QH C RTGX QWU VG V TGN I QWU CPF HQTOWNC E P PCVWTG
YJ EJ U TGRGCVGF XGTDCV O P VU (TGPEJ VTCPUNCV QP
5
06

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

VJ T GTV E OOGPVCT

P DTC N CP

TV

G G VTCP NCV P

VYQ UGOCPV E H GNFU QXGTNCR VJQUG QH P CPF EJ N FWG VQ VJG


FQWDNG OGCP PI QH (4 C VG HCWNV O UVCMG
2 101.1) . (4
(4
TVJ TC JG CPF
TC G TGURGEV XGN[ GPF PI N PGU VJTGG CPF H XG
(4
TJ[OG
146 1)4 2
TC G U PVGPV QPCNN[ O UURGNNGF CU
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(4
TC G
.
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TC G YCU EJQUGP UQNGN[ QP VJG DCU U
QH VU RJQPQNQI ECN RTQRGTV GU VU OGCP PI DG PI TTGNGXCPV
5 06 6 (4
TVJ TC JG U CRRGPFGF CU RQUV OQF H GT VQ VJG
PQWP RJTCUG (4 OC VT
TCP G C VG 6JG OQUV GX FGPV VTCPUNCV QPCN
EQPUGSWGPEG QH VJG CDQXG U VJCV
CPF
OWUV DG RTGUGTXGF
G CEVN[ CU VJG[ CTG VJG ITGCVGUV QDUVCENG VJGTGVQ U VJCV 2QTVWIWGUG
FQGU PQV JCXG C YQTF Y VJ VJG G CEV FQWDNG OGCP PI QH (4 C VG
1VJGT HQTOCN HGCVWTGU CTG CNUQ QH PQVG 6JGTG OWUV DG TJ[OG
DGVYGGP N PGU VJTGG CPF H XG QWT WUWCN VTCPUNCV QPCN O
GTCP
2
2
FQGU PQV UVT EVN[ FGOCPF VJCV V DG DGVYGGP
TV TC C CPF
TC C
CP ORQUU DNG FGOCPF UQ VJG UGOCPV E EQORQPGPV PGGF PQV DG
UQOQTRJ ECNN[ CN IPGF VQ VJG U[PVCEV E QPG 6JGTG U JQYGXGT PGGF
QH NG ECN VGOU YJ EJ YQWNF EQPHQTO VQ DQVJ VJG UGOCPV E CPF VJG
U[PVCEV E NGXGNU YJ NG CNNQY PI HQT VJG QTVJQITCRJ E QPG CU YGNN
( PCNN[ WPNGUU CP PVGTRTGVCV QP QH VJG RQGO U RTQX FGF VJCV
FGOCPFU VJG UGOCPV E EQORQPGPV QH (4 TC G QPN[ VU RJQPQNQI ECN
CPF QTVJQITCRJ E GNGOGPVU PGGF DG OC PVC PGF C TJ[O PI YQTF
OWUV DG HQWPF YJ EJ YQWNF PX VG C TCVJGT EQOOQP URGNN PI O UVCMG
G PF .CTCPLGKTC U CPCN UKU
GHQTG EQOOGPV PI QP VJG VYQ VTCPUNCV QPU CPF RTQRQU PI C
VJ TF QPG UJQWNF N MG VQ G RCPF QP .CTCPLG TC U CPCN[U U P QTFGT
VQ TGCEJ CP PVGTRTGVCV QP QH VJG RQGO Y NN DQVJ CFF PGY GNGOGPVU
CPF GPJCPEG VJQUG JG CNTGCF[ F UEWUUGF
4 ) 56 4 .CTCPLG TC UC[U PQVJ PI CDQWV TGI UVGT (QT
TGCFGTU UWHH E GPVN[ CESWC PVGF Y VJ VJG TGN I QWU PVGTVG V VJGTG
U C UWFFGP UJ HV P TGI UVGT UY VEJ PI HTQO TGN
CP
TOCN
VQ EJ N VCNM YJ EJ U NQYGT P HQTOCN V[ DGECWUG V DGNQPIU VQ
EQOOQP MPQYNGFIG CPF VQ VJG VCNM QH EJ NFTGP (4 C VG DGNQPIU

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

(CD CPQ 5G CU (GTPCPFGU

VQ DQVJ TGI UVGTU CPF U VJGTGHQTG TGURQPU DNG HQT VJG T VTCPU V QPCN
QXGTNCRR PI (TQO VJGP (4
N E OOGPV L ET
P N PG HQWT
OC[ UQWPF TCVJGT PHQTOCN CPF GXGT[FC[ N MG P UR VG QH (4
N
RJTCUGU DGNQPI PI VQ YT VVGP CPF QTCN NCPIWCIG 6JG RQGO CU C
EQPUGSWGPEG UGGOU VQ YCPFGT COQPI CV NGCUV VJTGG F HHGTGPV NGXGNU
QH HQTOCN V[ VJGTG DG PI CV NGCUV QPG UWFFGP DTGCEJ
5
06
XGP VJQWIJ .CTCPLG TC U CTV ENG FQGU PQV
UVCVG VJ U JG YCU RTQDCDN[ CYCTG QH VJG HCEV VJCV RQUV OQF H GT (4
TVJ TC JG U TGURQPU DNG HQT CEV XCV PI DQVJ VJG UJ HV P TGI UVGT
CPF VJG UGOCPV E COD IW V[ QH (4 C VG NUQ UJ HVU P TGI UVGT CTG
UQOQTRJ ECNN[ PQV CN IPGF VQ UGOCPV E UJ HVU P VJG RQGO (4 TC G
U OGVCNCPIWCIG JQYGXGT V YQWNF DG ORQUU DNG HQT CP[ TGCFGT
HCO N CT Y VJ VJG YQTF VQ U ORN[ F UO UU VU OGCP PI 6JG RQGO
FQGU EQPUGSWGPVN[ OQXG P VJG GPF VQ C VJ TF EQORNGVGN[ TCPFQO
UGOCPV E H GNF JT UV CP V[ UEJQQN QQNQI[ YJ EJ NGCFU VQ C
PGY UWFFGP UJ HV
2 101.1) .
2QUV OQF H GT (4
TVJ TC JG
TJ[VJO ECNN[ G VGPFU VJG TGN I QWU HQTOWNC YJ EJ UJQWNF RTQDCDN[
TGEG XG C TCVJGT UV HH TGCF PI FWG VQ VU DG PI WUWCNN[ RGTHQTOGF P
C RWDN E EGTGOQP[ UWEJ TGCF PI YQWNF DG NGUU RTQPG VQ VJG V[RG
QH F QU[PETCV E XCT CV QP VCM PI RNCEG P PF X FWCN RQGO TGCF PI
.
.
,WUV CU VJG
P VG T UGIOGPV (4 C VG
TVJ TC JG U C H GF G RTGUU QP P (TGPEJ YJ EJ FQGU EQPHGT
V C HQTOWNC E EJCTCEVGT CU YGNN 6JWU (4 C VG CNNQYU HQT VJG
VTCPU V QP HTQO QPG NQPI TGN I QWU HQTOWNC E RCUUCIG VQ C DT GH
VGEJP ECN RJTCUG
142 15 06 6
6JG U ORNG RTGUGPV XGTD (4 L ET OC[
PF ECVG DQVJ CP CEV QP LWUV EQORNGVGF CPF C TG VGTCVGF CEV QP P
VJ U ECUG C TGEWTTGPV URGNN PI O UVCMG
6TCPUNCV QPCN RTQDNGOU FGGRGP CU VJG CPCN[U U GXQNXGU VJGOCV E
UJ HVU ECWUG VJG RQGO VQ UQWPF UN IJVN[ RNC[HWN CPF EQO E VJGUG
CTG RCTV CNN[ UQOQTRJ E VQ TGI UVGT UJ HVU 6JG VTCPUNCV QP YQWNF DG
G RGEVGF VQ HQNNQY C U O NCT RCVJ 6JG CHQTGOGPV QPGF COD IW V[
P (4 C VG U CU YG ECP UGG GXGP OQTG UGT QWU VJCP .CTCPLG TC JCF
OCI PGF UGOCPV E QXGTNCRR PI JCRRGPU P C NG ECN VGO YJ EJ

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

VJ T GTV E OOGPVCT

P DTC N CP

TV

G G VTCP NCV P

DGNQPIU VQ VYQ F HHGTGPV HQTOWNC E G RTGUU QPU YJ EJ EQTTGURQPF


VQ 2 O PJC O OC E N C G 2 GTT G TV TC C NUQ .CTCPLG TC
RC[U N VVNG CVVGPV QP VQ VJG TQNG QH VJG RQUV OQF H GT YJ EJ U
VJG VTWG TGURQPU DNG HQT VJG RQYGTHWN QXGTNCR Y VJQWV VJG RQUV
OQF H GT PQ CFF V QPCN UGPUG QH (4 C VG YQWNF JCXG DGGP CEV XCVGF
PQT YQWNF VJGTG DG PVGTVG VWCN TJ[VJO ECN CPF F CRJCU E EWGU VQ
VJG CFFGF OGCP PI
G PF .CTCPLGKTC U CPCN UKU KPVGTRTGVKPI /GC

WNRC

.CTCPLG TC FQGU PQV VTCPUNCVG HTQO CP PVGT TGVCV P QH VJG


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HQT VJGO CPF CTG N CDNG VQ XCNWG LWFIOGPV QP VJG T ITCUR QH NCPIWCIG
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RQGO WPFGTIQGU HTQO ITCXG VQ GXGT[FC[ N MG VQ TCPFQO JQY QP
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QH FGUVCD N PI YJ EJ VCMGU RNCEG YJGP VJGUG VYQ H GNFU CTG
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6JG CDQXG G RCPU QP QP .CTCPLG TC U EQOOGPVU OC[ JGNR WU


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CF 6TCF (N TKCP R NKU 1PNKPG 8

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5 ORN[ J PV PI CV TGN I QP UGGOU VQ DGEQOG 5CPV CIQ U OQTG
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G CPF J U QO UU QP QH H TUV RGTUQP RTQPQWP 2 G YJ EJ P VJ U
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FGH PGU J U URGNN PI O UVCMG CU C QPG V OG QEEWTTGPEG P HCEV
5CPV CIQ UGGOU VQ PXGTV TGI UVGTU DG PI PHQTOCN P VJG H TUV VJTGG
N PGU CPF TCVJGT UQNGOP P VJG HQWTVJ *G FQGU PQPGVJGNGUU UGGO VQ
WUG CV NGCUV QPG TGI UVGT UJ HV U O NCT VQ 2TXGTV U P GHHGEV
5CPV CIQ U VTCPUNCV QP QO VU TJ[O PI CNVQIGVJGT .CTCPLG TC
DGN GXGU J O VQ JCXG IPQTGF QT F UVQTVGF VJG RJQPQNQI ECN
QTVJQITCRJ E HGCVWTGU QH (4 TC G YJ EJ 5CPV CIQ GTTQPGQWUN[
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J O HTQO UGG PI VJG RQU V XG U FG QH 5CPV CIQ U VTCPUNCV QP EJQ EGU

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

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RTGE UGN[ QP J U 2 TTC C *G OC[ JCXG F UTGICTFGF VJG HQTOCN CURGEVU
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TTC C P N PGU QPG VYQ VJTGG CPF H XG TGURGEV XGN[ V TGEWTU P
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VJG DGI PP PI QH VJG UGEQPF U[NNCDNG QP CNN HQWT YQTFU CPF DGNQPIU VQ
VJG UVTGUUGF U[NNCDNG P DQVJ 2 GT T CPF 2 T T C 6JG H PCN YQTF
DGCT PI VJG WPN MGN[ O UVCMG U VJWU RJQPQNQI ECNN[ CUUQE CVGF Y VJ
VJG 2QTVWIWGUG YQTFU OGCP P O UVCMG C TGH PGF RJQPQNQI ECN
VT EM EQORGPUCV PI HQT VJG CDUGPEG QH TJ[OG 1P VJG UGOCPV E
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TC C CPF 2 CTTC C DQVVNG 3WC PVPGUU CPF TCPFQOPGUU CTG VJWU
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NQQM CPF NGUU WUGF VJCP VJG NCVVGT P U VWCV QPU YJGP QPG YCPVU VQ
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CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

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P VG T OC[
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WUCIG 6JWU VJG EGPVTCN UGSWGPEG QH VJG RQGO CEEQTF PI VQ VJG
ET V E U CPCN[U U VJG QPG UGSWGPEG P YJ EJ UGOCPV E H GNFU QXGTNCR
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VGTV O E O CTCV P
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VJGUG I XG J U VTCPUNCV QPCN YQTM C J IJ NGXGN QH EQJGTGPEG P UR VG
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CU UGG V PQV QPN[ FQGU VJG RJTCUG HC N VQ RTQRGTN[ TGCN G VJG

CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

(CD CPQ 5G CU (GTPCPFGU

RTQLGEV VJG RTQLGEV VUGNH OC[ DG WPHGCU DNG VJG EGPVTCN V[ VJCV (4
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P VG T
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G GT C N G CP J O T HQTGITQWPF PI C UOCNN UECNG X U QP
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VCMG UQ YGTG EQPVTCUV CPF EQPQENCUO
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TGNCV QPU 9J NG .CTCPLG TC VCMGU RC PU VQ G RNC P 2TXGTV U WUG QH
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CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

TT P

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P DTC N CP

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2TXGTV VQ TC N CP /QFGTP UV RQGVU JG CNUQ YCPVU VQ F UVCPEG J O


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6JGUG RQGVU CTG G RN E VN[ PCOGF


V YCU HTQO OQFGNU UWEJ
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R
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CF 6TCF (N TKCP R NKU 1PNKPG 8

LWN FG

(CD CPQ 5G CU (GTPCPFGU

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