7U\EXQDá.RQVW\WXF\MQ\]ZDĪ\áFRQDVWĊSXMH 5HJXODFMDSRVWĊSRZDQLDZVSUDZLH]JRGQRĞFL].RQVW\WXFMąFHOyZOXEG]LDáDOQRĞFLSDUWLLSROLW\F]Q\FKL F]ĊĞFLRZHXPRU]HQLHSRVWĊSRZDQLD =JRGQLH]DUWSNW.RQVW\WXFML7U\EXQDá.RQVW\WXF\MQ\RU]HNDZVSUDZDFK]JRGQRĞFL] .RQVW\WXFMąFHOyZOXEG]LDáDOQRĞFLSDUWLLSROLW\F]Q\FK=ZQLRVNLHPZWDNLHMVSUDZLHGR7U\EXQDáXPRJą Z\VWąSLüQDVWĊSXMąFHRUJDQ\ZáDG]\SDĔVWZRZHM3UH]\GHQW5]HF]\SRVSROLWHM3ROVNLHM0DUV]DáHN6HMPX 0DUV]DáHN6HQDWX3UH]HV5DG\0LQLVWUyZSRVáyZVHQDWRUyZ3LHUZV]\3UH]HV6ąGX1DMZ\ĪV]HJR 3UH]HV1DF]HOQHJR6ąGX$GPLQLVWUDF\MQHJR3URNXUDWRU*HQHUDOQ\3UH]HV1DMZ\ĪV]HM,]E\.RQWUROLRUD] 5]HF]QLN3UDZ2E\ZDWHOVNLFK DUWXVWSNW.RQVW\WXFML  =JRGQLH]DUWXVWDZ\]GQLDOLVWRSDGDURRUJDQL]DFMLLWU\ELHSRVWĊSRZDQLDSU]HG7U\EXQDáHP .RQVW\WXF\MQ\P ']8]USR]GDOHMXRWS7.XVWDZDRRUJDQL]DFML7. ZQLRVHNZ VSUDZLH]JRGQRĞFL].RQVW\WXFMąFHOyZSDUWLLSROLW\F]QHMRNUHĞORQ\FKZVWDWXFLHOXESURJUDPLHOXE G]LDáDOQRĞFLSDUWLLSROLW\F]QHM7U\EXQDáUR]SR]QDMHQD]DVDGDFKLZWU\ELHSU]HZLG]LDQ\PGOD UR]SR]QDZDQLDZQLRVNyZZVSUDZLH]JRGQRĞFLDNWyZQRUPDW\ZQ\FK].RQVW\WXFMąUDW\ILNRZDQ\PL XPRZDPLPLĊG]\QDURGRZ\PLOXEXVWDZDPL 5R]SR]QDMąFZQLRVHNZVSUDZLH]JRGQRĞFL].RQVW\WXFMąFHOyZOXEG]LDáDOQRĞFLSDUWLLSROLW\F]Q\FK 7U\EXQDáVWRVXMHZSLHUZV]HMNROHMQRĞFLV]F]HJyOQąUHJXODFMĊXVWDZ\RRUJDQL]DFML7.ZSURVWRGQRV]ąFą VLĊGRSURFHGXU\UR]SR]QDQLDWDNLHJRZQLRVNX]JRGQLH]NWyUą  FLĊĪDUXGRZRGQLHQLDQLH]JRGQRĞFL].RQVW\WXFMąG]LDáDOQRĞFLSDUWLLSROLW\F]QHMVSRF]\ZDQD ZQLRVNRGDZF\ DUWXVWXRWS7.   ZąWSOLZRĞFLNWyU\FKQLHPRĪQDZ\MDĞQLüUR]VWU]\JDVLĊQDNRU]\ĞüSDUWLLSROLW\F]QHM DUWXVW XRWS7.   GRSURZDG]RQ\FKQDUR]SUDZLHSU]HVáXFKDĔĞZLDGNyZELHJá\FKDOERXMDZQLDQLDGRNXPHQWyZLVWRWQ\FK GODUR]VWU]\JQLĊFLDVWRVXMHVLĊRGSRZLHGQLRSU]HSLV\XVWDZ\]GQLDF]HUZFDU.RGHNV SRVWĊSRZDQLDNDUQHJR ']8]USR]GDOHMNRGHNVSRVWĊSRZDQLDNDUQHJRNSN  DUWXVW XRWS7.   ZFHOX]HEUDQLDLXWUZDOHQLDGRZRGyZZVSUDZLH]JRGQRĞFL].RQVW\WXFMąG]LDáDOQRĞFLSDUWLLSROLW\F]QHM 7U\EXQDáPRĪHZGURG]HSRVWDQRZLHQLD]OHFLü3URNXUDWRURZL*HQHUDOQHPXSU]HSURZDG]HQLH GRFKRG]HQLD=DNUHVGRFKRG]HQLDRNUHĞORQ\ZSRVWDQRZLHQLXMHVWZLąĪąF\'RGRFKRG]HQLDVWRVXMHVLĊ RGSRZLHGQLRSU]HSLV\NRGHNVXSRVWĊSRZDQLDNDUQHJR DUWXVWXRWS7.  :]DNUHVLHQLHXUHJXORZDQ\PZXVWDZLHRRUJDQL]DFML7.]Z\MąWNLHPZVND]DQ\FKV\WXDFMLZNWyU\FK 7U\EXQDáVWRVXMHRGSRZLHGQLRSU]HSLV\NRGHNVXSRVWĊSRZDQLDNDUQHJRGRSRVWĊSRZDQLDZVSUDZLH ZQLRVNXGRW\F]ąFHJR]JRGQRĞFL].RQVW\WXFMąFHOyZOXEG]LDáDOQRĞFLSDUWLLSROLW\F]QHM]JRGQLH]DUW XRWS7.VWRVXMHVLĊRGSRZLHGQLRSU]HSLV\XVWDZ\]GQLDOLVWRSDGDU.RGHNVSRVWĊSRZDQLD