NATIONAL STRATEGY FOR THE ENVIRONMENT ACTION PLAN ...

REPUBLIC OF BULGARIA 

COUNCIL OF MINISTERS 

NATIONAL STRATEGY 

FOR THE ENVIRONMENT 

AND 

ACTION PLAN 

2000 – 2006 

SOFIA – 2001

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DGVYGGP/1'9CPF/1* 

.CEM QH VGEJPKECN GSWKROGPV CPF URG 

EKCNKUVU KP TGIKQPCN KPURGEVQTCVGU QH 

/1'9 VQ YQTM QP PQKUG KUUWGU CPF 

RTQDNGOUKPUGVVNGOGPVU 

5VCPFCTFU CPF EQPVTQN OGVJQFU VQ EQP 

VTQNPQKUGHTQOVJGVTCPURQTVGZKUV+PVJG 

UCOG VKOG GSWKROGPV HQT OGCUWTKPI 

PQKUGNGXGNHTQOOQVQTXGJKENGUKP%#6KU 

XGT[QNFCPFKPUWHHKEKGPV 

6JG /1'9 CPF VJG /1* FQ PQV EQ 

QTFKPCVGVJGKTRTKQTKV[CEVKQPUHQTVJGGU 

VCDNKUJOGPVCPFOCKPVGPCPEGQHCOQPK 

VQTKPI U[UVGO VQ TGIWNCVG VJG CEQWUVKE 

ENKOCVGKPUGVVNGOGPVU6JGTGUWNVKURQQT 

KPVGTRTGVCVKQP QH CEQWUVKE FCVC HTQO VJG 

OQPKVQTKPIPGVYQTM 

'ZKUVKPI NGIKUNCVKQP EQPUKUVU QH C NCTIG 

PWODGT QH XCTKQWU CPF QNFHCUJKQPGF NG 

ICN CEVU 6JG '% NGIKUNCVKQP KP UGEVQT 

r0QKUGsJCUPQVDGGPVTCPURQUGF 

/WPKEKRCNKVKGU WPFGTGUVKOCVG VJG RTQD 

NGOQHPQKUGRQNNWVKQPCPFFQPQVWPFGT 

UVCPFVJCVKVKUCUGTKQWUFGRTGUUKPIHCE 

VQTKPCNQVQHRNCEGU 

#EVKQPU CTG RCNNKCVKXG OWPKEKRCN RQNKE[ 

QP VJG TGNCVKQP DGVYGGP VJG CEQWUVKE 

UVCVWU QH UGVVNGOGPVU CPF OGCUWTGU HQT 

TGFWEVKQP QT GNKOKPCVKQP QH PQKUG RQNNW 

VKQPJCUPQVDGGPFGXGNQRGF 

+V KU FKHHKEWNV VQ KFGPVKH[ VJG KPFKXKFWCN 

HNKIJVU ECWUKPI PQKUG RQNNWVKQP QXGT VJG 

CFOKUUKDNGNGXGNCPFVQKORQUGUCPEVKQPU 

VQVJGTGURGEVKXGCKTNKPGU 

,,5$',$7,21 

6JG/KPKUVT[QH'PXKTQPOGPVCPF9CVGTKU 

VJG EQORGVGPV DQF[ VJCV RGTHQTOU URGEKCNKUGF 

EQPVTQN QXGT VJG TCFKCVKQP UVCVWU QH VJG GPXK 

TQPOGPV 

4CFKQNQIKECNEQPVTQNKURGTHQTOGFVJTQWIJC 

RTQITCOCRRTQXGFD[VJG/KPKUVGTQHGPXKTQP 

OGPVCPFYCVGT6JGRTQITCOJCUDGGPFTCYP 

WR D[ VJG 'ZGEWVKXG 'PXKTQPOGPVCN #IGPE[ 

''#CPFKUTGXKGYGFGCEJ[GCT+VKPENWFGUC 

PGVYQTMQHOQPKVQTKPIUVCVKQPUHTGSWGPEKGUQH 

UCORNKPI CPF C UGV QH KPFKECVQTU HQT VJG EQO 

RQPGPVUQHVJGGPXKTQPOGPVUQKNUCKTCPFYC 

VGTU 6JG 2TQITCO KU C EQORQPGPV QH VJG 0C 

VKQPCN CWVQOCVGF U[UVGO HQT GPXKTQPOGPVCN 

OQPKVQTKPI0#5'/ 

6JG ''# CPF VJG .CDQTCVQTKGU HQT TCFKQ 

NQIKECNEQPVTQNKPVJG4+'9UKP$WTICU8CTPC 

/QPVCPC 2NGXGP 2NQXFKX CPF 5VCTC

0.8 

0.6 

0.4 

0.2 

Bq/l 

0 

Novo selo 

Lom 

Overall beta-radioactivity 

of the waters of the Danube, 1999 

6JG UGEQPF YC[ QH OQPKVQTKPI KU VJTQWIJ 

FKUETGVG OGCUWTGOGPVU QH TCFKCVKQP ICOOC 

DCEMITQWPFKPVJGRGTOCPGPVOQPKVQTKPIUVC 

VKQPU KP $WTICU 8CTPC 8TCVUC /QPVCPC 

2NGXGP 2NQXFKX 5VCTC

MO \QPG QH VJG 022 -Q\NQFWK CPF KP 

UQOG TGIKQPU YJGTG WTCPKWO KPFWUVT[ UKVGU 

CTGNQECVGF 

4CFKCVKQPUVCVWUQHVJGEQORQPGPVU 

QHVJGGPXKTQPOGPVKPMO\QPG 

CPFKPMO\QPGQH022-Q\NQFWK 

6JGTCFKQNQIKECNEQPVTQNQWVUKFGVJGUCPKVCT[ 

RTQVGEVKQP\QPGQH022-Q\NQFWKEQORTKUGU 

x %QPVKPWQWU OGCUWTGOGPV QH TCFKCVKQP 

ICOOCDCEMITQWPFKPVJTGGEQPVTQNUVCVKQPU 

KPVJGMO\QPG*CKTGFKP8CNEJGFTWO 

1TKCJQXQ CPF KP UKZ EQPVTQN UVCVKQPU KP VJG 

MO \QPG 8KFKP /QPVCPC 8TCVUC 

-PGLC 2NGXGP CPF 2GVTQJCP 6JG UEQRG QH 

FCVC KP VJG PCVKQPCN CWVQOCVGF U[UVGO QP 

VJGTCFKCVKQPDCEMITQWPFYKNNDGDTQCFGPVQ 

KPENWFG GKIJV EQPVTQN UVCVKQPU HTQO VJG QWV 

UKFG TCFKCVKQP EQPVTQN U[UVGO QH 022 -Q 

\NQFWKCNNQHVJGONQECVGFKPCTCFKWUQH 

MOCTQWPFVJGPWENGCTRQYGTRNCPV 

&CVCCTGTGEGKXGFKPTGCNVKOGKPVJGPC 

VKQPCN CWVQOCVGF U[UVGO HQT RGTOCPGPV 

EQPVTQNQHVJGTCFKCVKQPICOOCDCEMITQWPF 

&CVCHQTUJQYVJCVDCEMITQWPFXCNWGU 

EJCTCEVGTKUVKE HQT VJG TGURGEVKXG UVCVKQPU 

JCXGPQVDGGPGZEGGFGF 

x OQPVJN[ FGHKPKVKQP QH VJG URGEKHKE CEVKXKVKGU 

QHPCVWTCNCPFVGEJPQIGPKETCFKQPWENKFGUKP 

VJG EO UQKN UWTHCEG NC[GT KP UCORNGU 

HTQOUVCVKQPUKPVJGMO\QPGCPF 

EOUQKNUWTHCEGNC[GTKPUCORNGUHTQO 

UVCVKQPUCPPWCNN[HTQOVJGMO\QPG 

6JG EQPVGPV QH VJG VGEJPQIGPKE TCFKQ 

PWENKFG %U KP VJG UWTHCEG UQKN NC[GT KP 

YCUKUVJGTCPIGDGVYGGP$SMICPF 

$SMICPFKUGXCNWCVGFCUCTGUWNVQHVJG 

INQDCNFGRQUKVUCHVGTVJGCEEKFGPVKP%JGTPQ 

D[N 0Q GZEGGFKPI XCNWGU JCXG DGGP OGCU 

WTGFQHQVJGTVGEJPQIGPKETCFKQPWENKFGU 

x OQPVJN[EQPVTQNQH VJGQXGTCNNDGVCCEVKXKV[ 

QHWPDCNCPEGFYCVGTUHTQOTGCEVQTU8u8+ 

uENGCTCPFURGEKCN\QPGWPDCNCPEGFYCVGTU 

HTQOTGCEVQT+u+8EJCPPGNDGHQTGTGCEVQTU 

++8 rEQQNs EJCPPGN rYCTOs EJCPPGN QNF 

EJCPPGN r8CN[CVCs PGY EJCPPGN r8CN[CVCs 

YCVGTUHTQO&CPWDGPGCT2QTV-Q\NFWKCPF 

2QTV1TKCJQXQ 

$QVJ EQORCTKUQP QH FCVC HQT YKVJ 

FCVCHTQORTGXKQWU[GCTUCPFEQORCTKUQPQH 

FCVCHTQOWRRGTCPFNQYUVTGCOQHVJGTKXGT 

KPVJGCTGCQHVJGPWENGCTRQYGTRNCPVRTQXG 

VJGCDUGPEGQHVTGPFVQYCTFRQNNWVKQPQHVJG 

YCVGTUQH&CPWDGHTQOVJGQRGTCVKQPUQHVJG 

022 

x OQPVJN[ EQPVTQN QH URGEKHKE CEVKXKVKGU QH 

VGEJPQIGPKE%UKPUGFKOGPVUQH&CPWDG 

WR CPF FQYP VJG PWENGCT RQYGT RNCPV CPF 

HTQOVJGrYCTOsEJCPPGN 

4CFKQNQIKECN EJCTCEVGTKUVKEU QH CNN UCORNGU QH 

&CPWDG UVTGCO WR CPF FQYP VJG PWENGCT 

RQYGT RNCPV CPF VJG rYCTOs EJCPPGN UJQY 

NQY XCNWGU CPF CTG PQV CHHGEVGF D[ VJG 

RNCPVqUCEVKXKVKGU 

6JGQXGTCNNTCFKCVKQPEQPVTQNECTTKGFQWV 

KPD[VJG''#KPEQQRGTCVKQPYKVJVJG 

4+'9U JCU PQV UJQYP CP[ KORCEV QH VJG 

022-Q\NQFWKQPVJGEQORQPGPVUQHVJGGP 

XKTQPOGPV 

0WENGCTUCHGV[KUQPGQHVJGOCLQTRTKQTK 

VKGUKPVJGGPGTI[RQNKE[QH$WNICTKC 

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HKPGFTGNCVKPIVQVJG#ITGGOGPVQPENQUKPIFQYP 

WPKVU CPF QH VJG PWENGCT RQYGT UVCVKQP -Q 

\NQFWKUKIPGFDGVYGGPVJG4GRWDNKEQH$WNICTKC 

CPFVJG'WTQRGCP7PKQPCVVJGGPFQH 

x GPUWTG QRVKOCN QRGTCVKQP QH WPKVU CPF 

VKNNHQTVJGVKOGQHVJGNCUVTGHWGN 

x VCMGOGCUWTGUVQKORTQXGUCHGV[QHWPKVU 

CPF KP EQORNKCPEG YKVJ VJG CITGG 

OGPVU TGCEJGF CHVGT VJG PGIQVKCVKQPU 

YKVJVJG'% 

x FTCY WR C RNCP YKVJ VKOGHTCOGU QH 

OGCUWTGU RWTUWCPV VQ VJG 2TQITCO VQ 

VJG/GOQTCPFWOHQTWPKVUCPF6JKU 

2TQITCOUJQWNFDGEQQTFKPCVGFYKVJVJG 

OGCUWTGU QP CNN VJG QVJGT WPKVU QH VJG 

UVCVKQPU 

x FGUKIPVGEJPKECNRTQLGEVUHQTVJGRNCPHQT 

ENQUKPIFQYPWPKVUCPFCPFRNCPCE 

VKQPU VQ TGIWNCVG VJG QTICPKUCVKQPCN 

UVTWEVWTG KP EQORNKCPEG YKVJ VJG #ITGG 

OGPVYKVJVJG'WTQRGCP7PKQPHTQO 

0QXGODGT 

x CFQRV C UVTCVGI[ QP VJG FGXGNQROGPV QH 

VJG PWENGCT GPGTI[ UGEVQT KP QTFGT VQ 

RNCP CEVKQPU HQT EQPUVTWEVKQP QH PGY PW 

ENGCT RQYGT IGPGTCVKQP TGUQWTEGU KP VJG 

HTCOG QH VJG QXGTCNN UVTCVGI[ QP GPGTI[ 

FGXGNQROGPVKP$WNICTKC 

x HWTVJGTFGVCKNCPFRTGEKUGVJGNGIKUNCVKQP 

QP PWENGCT UCHGV[ CPF RTQVGEVKQP HTQO 

TCFKCVKQP 

x KORTQXG PWENGCT UCHGV[ CPF RTQVGEVKQP 

HTQO TCFKCVKQP GUVCDNKUJ TGIWNCVKPI 

DQFKGUCPFGPUWTGPGEGUUCT[TGUQWTEGU 

x KORTQXG TGRQTVKPI EQPVTQN CPF RJ[UKECN 

U[UVGOU QH RTQVGEVKQP QH TCFKQCEVKXG OC 

VGTKCNU 

x TGCFKPGUU VQ CEV CPF EQPVTQN KP ECUG QH 

CEEKFGPV 

 

 

0CVKQPCNRNCPHQTVJGGEQPQOKEFGXGNQROGPVQHVJG 

4GRWDNKEQH$WNICTKC 

 


x KORTQXG VJG OCPCIGOGPV QH URGPV HWGN 

CPFGUVCDNKUJCU[UVGOQHUCHGVTGCVOGPV 

QHTCFKQCEVKXGYCUVG 

+PTGICTFVQVJGNCUVNKUVGFKVGOC0CVKQPCN 

U[UVGO QP UCHG OCPCIGOGPV QH URGPV PWENGCT 

HWGNUCPFTCFKQCEVKXGYCUVGYCUFGXGNQRGF 

4CFKCVKQPUVCVWUQHVJGGPXKTQPOGPV 

KPVJGTGIKQPQH8TQOQUDC[u$WTICU 

6JG TCFKCVKQP NGXGN QH VGEJPQIGPKECNN[ RQN 

NWVGF DC[ 8TQOQU KU C UWDLGEV VQ RGTKQFKECN 

EQPVTQN+PCRTQLGEVYCUKORNGOGPVGFQP 

VTGCVOGPVQHVJGDC[HTQOTCFKQCEVKXGHNQVCVKQP 

YCUVG 

+PUCORNGUQHHTGUJCNNWXKWOHTQOVJG 

EGPVTCNRCTVQHVJGDGCEJEQCUVYCVGTUCORNGU 

CPF UQKN UCORNGU HTQO VJG NGXGN QH VJG DGCEJ 

YGTGCPCN[UGF6JGICOOCDCEMITQWPFYCUKP 

VJG TCPIG DGVYGGP u P5XJ 6JG TG 

UWNVU QH VJG ICOOCURGEVTQOGVTKE CPCN[UKU QH 

UCORNGUQHVJGCNNWXKWOYGTGEJCTCEVGTKUVKEHQT 

RQNNWVKQP YKVJ HNQVCVKQP YCUVG CPF UQOG UGC 

UQPKPI KP VJG EQPEGPVTCVKQP QH PCVWTCN TCFKQ 

PWENKFGUYCUQDUGTXGF6JG UQKN UCORNGU JCXG 

UJQYP EQPEGPVTCVKQP KP VJG CFOKUUKDNG NKOKV 

XCNWGU 

4CFKCVKQPUVCVWUQHVJGGPXKTQPOGPV 

KPVJGTGIKQPUQHENQUGFFQYPWTCPKWO 

OKPGU 

6JG/1'9EQPVTQNUVJGTCFKCVKQPUVCVWUQH 

VJG GPXKTQPOGPV KP RTQZKOKV[ VQ HQTOGT WTC 

PKWO OKPGU 6JG EQPVTQN KPENWFGU HKGNF TCFKQ 

OGVTKEOGCUWTGOGPVUCPFNCDQTCVQT[CPCN[UGU 

QHUQKNYCUVGRTQFWEVUKPVJGYCUVGFWORUCPF 

VCKNKPIU RQPFU TKXGT UGFKOGPVU TWPPKPI CPF 

ITQWPFYCVGT CPF UWTHCEG YCVGT 4CFKQNQIKECN 

RCTCOGVGTUQHUQKNTKXGTUGFKOGPVUCPFYCUVG 

OCVGTKCNU CTG CPCN[UGF DCUGF QP VJG UCORNGU 

VCMGP D[ VJG 0#5'/ PGVYQTM HQT EQPVTQN QH 

RQVGPVKCN RQNNWVGTU 4CFKQEJGOKECN CPCN[UGU 

CTG ECTTKGF QWV QH YCVGT UCORNGU VQ CPCN[UG 

KPFKECVQTUNKUVGFKP$55r&TKPMKPIYCVGTs 

u QXGTCNN DGVCTCFKQCEVKXKV[ EQPVGPV QH WTC 

PKWOCPFTCFKWO 

2WTUWCPV VQ VJG %/ &GETGG ˜ /CTEJ 

QP WTCPKWO OKPKPI CPF RTQEGUUKPI 

EQPUGSWGPEGU NKSWKFCVKQP r'EQGPIKPGGTKPI 

4/s JCU DGGP CUUKIPGF VJG TGURQPUKDKNKV[ VQ 

QTICPKUG CPF EQPVTQN VJG CEVKQPU TGICTFKPI 

VGEJPKECNNKSWKFCVKQPVGEJPKECNCPFDKQNQIKECN 

TGEWNVKXCVKQP YCVGT VTGCVOGPV CPF KPVGTPCN 

EQORNGZOQPKVQTKPIQHVJGEQORQPGPVUQHVJG 

GPXKTQPOGPV 'XGP VJQWIJ NGICN TGSWKTG 

OGPVU GZKUV PQV CNN UKVGU CTG GSWKRRGF YKVJ 

OQPKVQTKPI PGVYQTMU CU TGSWKTGF KP VJG r+P 

UVTWEVKQP QP QTICPKUCVKQP QH OQPKVQTKPI FG 

UKIP EQPUVTWEVKQP CPF QRGTCVKQP QH U[UVGOU 

HQTOQPKVQTKPIQHVJGGPXKTQPOGPVKPTGIKQPU 

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U[UVGOJCUVYQOQPKVQTKPIEQPVCKPGTUNQECVGF 

KP $WJQXQ CPF ;CPC VYQ TGEGKXKPI EGPVTGU u 

KPr4GFMK/GVCNKs$WJQXQCPFKP''#CUYGNN 

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$WJQXQ 

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QH GPXKTQPOGPVCN EQORQPGPVU DGHQTG FWTKPI 

CPF CHVGT VJG TGJCDKNKVCVKQP CEVKXKVKGU KP VJG 

TGIKQP /QPKVQTKPI EQPVCKPGTU CTG UWRRNKGF 

YKVJ OGCUWTGOGPV GSWKROGPV HQT RGTOCPGPV 

EQPVTQN QH FWUV TCFKQNQIKECN RCTCOGVGTU EC 

RCEKV[QHVJGFQUGQHICOOCTCFKCVKQPEQPEGP 

VTCVKQP QH TCFQP KP ITQWPF NGXGN CKT OGVGQ 

RCTCOGVGTUFKTGEVKQPCPFURGGFQHYKPFVGO 

RGTCVWTG CPF JWOKFKV[ QH ITQWPF CKT CVOQU 

RJGTKERTGUUWTGCPFSWCPVKV[QHTCKPU 

6JG HQNNQYKPI CTG VJG EQPENWUKQPU HTQO VJG 

EQPVTQNCEVKQPUECTTKGFQWVKPKPQVJGTTG 

IKQPUQHENQUGFFQYPWTCPKWOOKPGU 

/&2r'NGUJPKVUCs 

HCEVQT[r

$CNMCPsuXKNNCIGQH6UGTQXQ 

#FKVU˜˜CPFJCXGPQVDGGPENQUGFCPF 

VJGKTFWORUJCXGPQVDGGPTGEWNVKXCVGF6JG 

FWORQHCFKVTGRTGUGPVUCRQVGPVKCNTKUM 

r)CDTCsuXKNNCIGQH)CDTC 

6JGTGEWNVKXCVKQPQHVJGFWORQHCFKVJCU 

PQVDGGPEQORNGVGF 

r+UMTCsuXKNNCIGQH-CVKPC 

6JG TGEWNVKXCVKQP JCU PQV DGGP EQORNGVGF 

CPFVJGRTQDNGOYKVJVJGVTGCVOGPVQHOKPKPI 

YCVGTUKUUVKNNVQDGUQNXGF 

r)GQTGUWTUGsuUGEVKQPUr$TGLCPKs 

r5GPQMQUsr+ITCNKUJVGs 

6JG OKPKPI YCVGTU QH CFKV QH UGEVKQP 

r$TGLCPKsCPFCFKVQHUGEVKQPr+ITCNKUJVGsCTG 

CEEGUUKDNG VQ CPKOCNU 6JG UQTRVKQP EQNWOP QH 

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r$KCNCVCXQFCsuXKNNCIGQH1EJWUJC 

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PKVTQIGPQZKFGU 

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6QVCNGOKUUKQPQHUWNRJWT 

QZKFGUZVQPPGU 

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.KIPKVGEQCNU 

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VCMKPI NCPFU HQT FKURQUCN QH UNCI CPF QVJGT 

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1985 1990 1995 2000 2005 2010 2015 

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5QHKC CPF UWNRJWT QZKFGU CPF 

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VKQP QH GOKUUKQPU QH XQNCVKNG QTICPKE EQO 

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TGFWEVKQP QH GOKUUKQPU QH JGCX[ OGVCNU CPF 

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QP&GXGNQROGPVQHVJG'PGTI[5GEVQT 


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UKDKNKVKGUQHVJG/1'9CTGVQ 

x &GXGNQR CPF KORNGOGPV VJG PCVKQPCN 

RQNKE[QPVJGGPXKTQPOGPVFTCHVNGIKUNC 

VKQP KP VJG HKGNF QH YCVGT CODKGPV CKT 

SWCNKV[ CPF YCUVG OCPCIGOGPV PCVWTG 

RTQVGEVKQP EJGOKECNU PQKUG CEEKFGPVCN 

RQNNWVKQP QH VJG GPXKTQPOGPV JQTK\QPVCN 

NGIKUNCVKQP JCTOQPKUG VJG PCVKQPCN NGI 

KUNCVKQPYKVJVJG'7NGIKUNCVKQP 

x /CPCIG VJG 0(2' CPF VJG GPXKTQP 

OGPVCNKPVGTPCVKQPCNHWPFGFRTQLGEVUKP 

ENWFKPI VJQUG WPFGT VJG RTGCEEGUUKQP 

'7HWPFU 

x 'NCDQTCVGVJGRQUKVKQPQHVJGUVCVGKPVJG 

PGIQVKCVKQPUQPCEEGUUKQPVQVJG'7CPF 

RTGRCTCVKQPQHTGSWKTGFKPHQTOCVKQP 

x %QQTFKPCVG VJG CEVKQPU QH QVJGT KPUVKVW 

VKQPUHQTVJGKORNGOGPVCVKQPQHVJGGPXK 

TQPOGPVCNRQNKE[ 

x /CPCIG RTQVGEVGF CTGCU GZENWUKXG UVCVG 

RTQRGTV[ 

x /CPCIG CPF FKUVTKDWVG YCVGT TGUQWTEGU 

KPVJGEQWPVT[KPENWFKPIOKPGTCNYCVGTU 

GZENWUKXGUVCVGRTQRGTV[ 

x &GXGNQR C RQNKE[ QP KPXGUVKICVKQP CPF 

WUGQHWPFGTITQWPFTGUQWTEGU 

x +UUWG GPXKTQPOGPVCN KORCEV CUUGUUOGPV 

FGEKUKQPU QP NCTIG FGXGNQROGPVU CPF CE 

VKXKVKGUQHPCVKQPCNKORQTVCPEGJC\CTFQWU 

YCUVG RGTOKVU KP VJG ECUGU URGEKHKGF D[ 

NCYRGTOKVUQPKORQTVGZRQTVCPFVTCPUKV 

VTCPURQTVCVKQP QH JC\CTFQWU UWDUVCPEGU 

YCUVG GPFCPIGTGF URGEKGU HTQO VJG YKNF 

HNQTCCPFHCWPCHQTRTQURGEVKPICPFKPXGU 

VKICVKQPQHWPFGTITQWPFTGUQWTEGU 

x +PHQTOVJGRWDNKECDQWVVJGUVCVGQHVJG 

GPXKTQPOGPV 

6JG 'ZGEWVKXG 'PXKTQPOGPVCN #IGPE[ KU C 

URGEKCNKUGFDQF[QHVJG/1'9YJKEJ 

x %CTTKGF QWV OQPKVQTKPI CPF CPCN[VKECN 

CPFNCDQTCVQT[CEVKXKVKGU 

x 2TQXKFGU OGVJQFQNQIKECN IWKFGNKPGU VQ 

4+'9UQPOGCUWTGOGPVUCPFCPCN[UGU 

x %QNNGEVUCPFRTQEGUUGUKPHQTOCVKQPCDQWV 

VJG UVCVG QH VJG GPXKTQPOGPV CPF KUUWGU 

KPHQTOCVKQPDWNNGVKPUQPVJGUVCVGQHVJG 

GPXKTQPOGPV 

x 2TGRCTGU CPF KUUWGU CPPWCN TGRQTVU QP 

VJGUVCVGQHVJGGPXKTQPOGPVKP$WNICTKC 

x %QQTFKPCVGUVJGCEVKXKVKGUQHQVJGTKPUVK 

VWVKQPU YJKEJ EQNNGEV CPF RTQEGUU GPXK 

TQPOGPVCNKPHQTOCVKQP 

(KHVGGP 4GIKQPCN 'PXKTQPOGPVCN +PURGEVQT 

CVGUYGTGGUVCDNKUJGFCUTGIKQPCNUVTWEVWTGUQH 

VJG /1'9 'CEJ 4+'9 EQXGTU UGXGTCN CF 

OKPKUVTCVKXGTGIKQPU6JGKTOCKPHWPEVKQPUKP 

ENWFG 

x %QPVTQNQXGTGPHQTEGOGPVCPFKORNGOGP 

VCVKQPQHVJGGPXKTQPOGPVCNNGIKUNCVKQP 

x #UUKUVCPEG VQ VJG OWPKEKRCNKVKGU HQT KO 

RNGOGPVCVKQP QH NQECN GPXKTQPOGPVCN 

RQNKE[ 

x 2TQXKUKQPQHKPHQTOCVKQPVQVJGRWDNKEQP 

VJGUVCVGQHVJGGPXKTQPOGPV 

x +UUWCPEG QH '+# FGEKUKQPU HQT RTQLGEVU 

CPF CEVKXKVKGU QH TGIKQPCN KORQTVCPEG 

YCUVG VTGCVOGPV RGTOKVU YCVGT WUG 

RGTOKVUDQFKGUQHYCVGTWUGRGTOKVU 

x 2TQXKUKQPQHFCVCHTQOVJGTGURGEVKXGTG 

IKQPUVQVJG0CVKQPCN#WVQOCVGF5[UVGO 

HQT'PXKTQPOGPVCN/QPKVQTKPI 

+P VJG /1'9 GUVCDNKUJGF FKXKUKQPU 

HQTVJGVJTGGPCVKQPCNRCTMUKP$WNICTKC6JG[ 

OCPCIGRTQVGEVGFCTGCUQTICPKUG EQQTFKPCVG 

CPF EQPVTQN VJG KORNGOGPVCVKQP QH VJG CEVKXK 

VKGU KPENWFGF KP VJG RNCPU HQT OCPCIGOGPV QH 

RTQVGEVGF CTGCU #NN VJTGG FKXKUKQPU YGTG GU 

VCDNKUJGF KP VJG TGEQOOGPFGF VKOGHTCOG CPF 

RGTHQTOUWEEGUUHWNN[VJGKTHWPEVKQPU 

6JGGUVCDNKUJOGPVQHHQWTFKXKUKQPUHQTYC 

VGT OCPCIGOGPV KU IQKPI QP KP VJG /1'9 

6JKURTQEGUUUJQWNFDGURGGFGFWR7PVKNVJGKT 

GUVCDNKUJOGPV VJGKT HWPEVKQPU UJCNN DG RGT 

HQTOGFD[VJG4+'9U 

6JGEWTTGPVUVTWEVWTGQHVJG/1'9EQXGTU 

VJGTGURQPUKDKNKVKGUNCKFFQYPKPVJGNGIKUNCVKQP 

CPFVJGRWDNKEPGGFU6JGTGIKQPCNUVTWEVWTGQH 

VJG/KPKUVT[FQGUPQVEQORN[YKVJVJGVGTTKVQ 

TKCN FKXKUKQP QH VJG EQWPVT[ VJWU EQOOWPKEC 

VKQPU CPF EQQTFKPCVKQP DGVYGGP TGIKQPCN 

UVTWEVWTGU QH FKHHGTGPV UVCVG CPF OWPKEKRCN 

DQFKGU VJG DWUKPGUUGU CPF VJG RWDNKE KU KO 

RGFGF 

1VJGT UVCVG KPUVKVWVKQPU YKVJ TGURQPUKDKNK 

VKGUHQTURGEKHKECURGEVUQHVJGRTQVGEVKQPQHVJG 

GPXKTQPOGPVCTG 

x /KPKUVT[QH*GCNVJuEQPVTQNUVJGKORCEV 

QH GPXKTQPOGPVCN EQORQPGPVU YQTMKPI 

GPXKTQPOGPV CPF PWVTKVKQP QP JWOCP 

JGCNVJ FGHKPGU UVCVG RQNKEKGU QP JGCNVJ 

RTGXGPVKQP CPF RTQOQVKQP EQPVTQNU VJG 

SWCNKV[ QH URGEKHKE EQORQPGPVU CPF KO 

RCEV HCEVQTU QH VJG GPXKTQPOGPV KPENWF 

KPI FTKPMKPI YCVGT SWCNKV[ DCVJKPI YC 

VGTPQKUGKPUGVVNGOGPVUCPFURGEKHKECKT 

RQNNWVCPVU 

x /KPKUVT[ QH #ITKEWNVWTG CPF (QTGUVT[ u 

RGTHQTOU CEVKQPU QP RTQVGEVKQP WUG TG 

EWNVKXCVKQP CPF OCKPVGPCPEG QH HQTGUVU 

 


YKNF CPKOCNU RTQVGEVKQP QH YCVGT HTQO 

RQNNWVKQP ECWUGF D[ PKVTCVGU HTQO CITK 

EWNVWTG #EEQTFKPI VQ VJG NGICN TGIWNC 

VKQPU EQORGVGPV DQF[ HQT IGPGVKECNN[ 

OQFKHKGF QTICPKUOU KU VJG %QWPEKN HQT 

5CHG 7UG QH )GPGVKECNN[ /QFKHKGF 1T 

ICPKUOU KP VJG /#( VJCV KU TGURQPUKDNG 

HQTVJG'75#2#4&2TQITCOCNUQ 

x /KPKUVT[ QH 4GIKQPCN &GXGNQROGPV CPF 

2WDNKE 9QTMU u ECTTKGU QWV VJG PCVKQPCN 

RQNKE[ KP VJG HKGNF QH TGIKQPCN RNCPPKPI 

CPF WTDCP FGXGNQROGPV FGXGNQROGPV QH 

VJGYCVGTUWRRN[CPFUGYGTCIGU[UVGOU 

FGXGNQRU VJG 0CVKQPCN 2NCP HQT 4GIKQPCN 

&GXGNQROGPV 

x /KPKUVT[QH'EQPQO[uVJG0CVKQPCN2TQ 

ITCO QP VJG #FQRVKQP QH VJG #SWKU 

UVKRWNCVGUVJCVVJG/1'UJCNNKPVTQFWEG 

VJG '7 NGIKUNCVKQP QP KPFWUVTKCN PQKUG 

CPF PQKUG HTQO JQWUGJQNF CRRNKCPEGU 

6JG %QOOKUUKQP QP 6TCFG CPF 2TQVGE 

VKQP QH %QPUWOGTU VQ VJG /1' KU VJG 

DQF[ YJKEJ GPHQTEGU VJG 4GIWNCVKQP QP 

NCDGNNKPI CPF HQQFU RTQOQVKQP %/ &G 

ETGG ˜ ,WN[ YKVJ TGICTFU 

VQ HQQFU RTQRQUGF QP VJG OCTMGV KP 

ENWFKPI VJG EQPVGPV QH IGPGVKECNN[ OQFK 

HKGFUQ[CCPFOCK\G 

x /KPKUVT[ QH 6TCPURQTV CPF %QOOWPKEC 

VKQPUuFGXGNQRUUVCPFCTFUHQTGOKUUKQPU 

QH JCTOHWN UWDUVCPEGU KP VJG GZJCWUV 

ICUGU HTQO OQVQT XGJKENGU CPF RGTHQTOU 

EQPVTQN HWPEVKQPU HQT VJG GPHQTEGOGPV QH 

VJGUGUVCPFCTFU 

x /KPKUVT[QH(KPCPEGUuRTQXKFGUHWPFKPI 

HTQO VJG UVCVG DWFIGV VQ OWPKEKRCNKVKGU 

HQT RTKQTKV[ GPXKTQPOGPVCN KPXGUVOGPV 

RTQLGEVUFGHKPGFKPEQQRGTCVKQPYKVJVJG 

/1'9 FTCHVU NGIKUNCVKQP QP VJG OW 

PKEKRCN UQNKF YCUVG HGG UGVVKPI GZEKUGU 

CPF GPXKTQPOGPVCN HGGU QP NKSWKF HWGNU 

CUUKUVUVJG/1'9QPVJGRTGRCTCVKQPQH 

QVJGTHGGUKPVTQFWEGFYKVJVJGRWTRQUGVQ 

RTQVGEVVJGGPXKTQPOGPVECTTKGUQWVVJG 

PGIQVKCVKQPU CPF KORNGOGPVU VJG PC 

VKQPCNRQNKE[KPVJGEQPVCEVUYKVJVJGKP 

VGTPCVKQPCN HKPCPEKCN KPUVKVWVKQPU QP 

NQCPU HQT GPXKTQPOGPVCN RTQVGEVKQP RTQL 

GEVUr%WUVQOUs&KXKUKQPQH/1(EQPVTQNU 

VJG KORQTV CPF GZRQTV QH GPFCPIGTGF 

HNQTCCPFHCWPCURGEKGUYCUVGUJC\CTF 

QWUUWDUVCPEGU 

x 5VCVG #IGPE[ r%KXKN 2TQVGEVKQPs YKVJKP 

VJG %QWPEKN QH /KPKUVGTU KU TGURQPUKDNG 

HQT FGXGNQROGPV CPF KORNGOGPVCVKQP QH 

NGIKUNCVKQP TGNCVGF VQ CEEKFGPVU DTGCM 

FQYPU CPF PCVWTCN FKUCUVGTU KPENWFKPI 

UWEJ ETGCVKPI FCPIGT CPF TKUMU HQT VJG 

GPXKTQPOGPV 

x /KPKUVT[QH'FWECVKQPuFGXGNQRUCPFKP 

VTQFWEGU GPXKTQPOGPVCN GFWECVKQP RTQ 

ITCOUCVCNNNGXGNUQHVJGGFWECVKQPU[U 

VGO 

1VJGT URGEKCNKUGF UVCVG DQFKGU CV PCVKQPCN 

NGXGNYKVJHWPEVKQPUQPVJGGPXKTQPOGPVCTG 

x %QOOKVVGGQP7UGQH0WENGCT'PGTI[HQT 

2GCEGHWN 2WTRQUGU u TGIWNCVKPI DQF[ KP 

VJGHKGNFQHPWENGCT UCHGV[CPF TCFKCVKQP 

RTQVGEVKQP 

x 5VCVG#IGPE[QP'PGTI[CPF'PGTI[4G 

UQWTEGU u FGXGNQRU RTQITCOU QP FGXGN 

QROGPV QH VJG GPGTI[ KPFWUVT[ CPF URG 

EKHKECNN[ HQT VJG TGFWEVKQP QH VJG GPXK 

TQPOGPVCNRQNNWVKQPHTQOKV 

x 5VCVG#IGPE[HQT'PGTI['HHKEKGPE[uFG 

XGNQRUCPFCUUKUVUVJGKORNGOGPVCVKQPQH 

VJGRQNKE[QPGHHKEKGPVCPFTCVKQPCNWUGQH 

VJGGPGTI[CPFWUGQHCNVGTPCVKXGGPGTI[ 

UQWTEGU 

x 5VCVG #IGPE[ QP 5VCPFCTFKUCVKQP CPF 

/GVTQNQI[ u FGXGNQRU TGXKGYU CPF WR 

FCVGU $WNICTKCP UVCVG UVCPFCTFU KP VJG 

HKGNFQHVJGGPXKTQPOGPVCPFJCTOQPKUGU 

VJGO YKVJ KPVGTPCVKQPCN CPF 'WTQRGCP 

UVCPFCTFU 

x 0CVKQPCN 5VCVKUVKECN +PUVKVWVG u EQNNGEVU 

RTQEGUUGUCPFCPCN[UGUFCVCQPVJGGPXK 

TQPOGPV 

,17(5,167,787,21$/&223(5$7,21 

$77+(1$7,21$//(9(/ 

1PGQHVJGETKVKECNTGOCTMUVQVJG0CVKQPCN 

5VTCVGI[ HQT VJG 'PXKTQPOGPV HTQO EQP 

EGTPGF VJG RQQT JQTK\QPVCN EQQTFKPCVKQP DG 

VYGGP VJG /KPKUVT[ QH 'PXKTQPOGPV CPF VJG 

QVJGTOKPKUVTKGUCPFEQOOKVVGGU 

5GTKQWUOGCUWTGUWPFGTXCTKQWUHQTOUJCXG 

DGGP WPFGTVCMGP KP VJG RCUV UGXGTCN [GCTU VQ 

QXGTEQOG VJKU RTQDNGO CPF VQ KORTQXG VJG 

EQNNCDQTCVKQP 

x %QQRGTCVKQPCITGGOGPVU 

x 2CTVKEKRCVKQP QH TGRTGUGPVCVKXGU QH QVJGT 

OKPKUVTKGU KP RGTOCPGPV EQOOKUUKQPU 

CPF EQWPEKNU KP VJG /1'9 CPF XKEG 

XGTUC 

x #FQRVKQP QH RTQITCOU CPF RNCPU QP DG 

JCNH QH VJG %QWPEKN QH /KPKUVGTU KP VJG 

GPXKTQPOGPVCN HKGNF URGEKH[KPI KPUVKVW 

VKQPUq TGURQPUKDKNKVKGU CPF TGRQTV CPF 

OQPKVQTKPIQHVJGRGTHQTOCPEG 

x 'UVCDNKUJOGPV QH CF JQE KPVGT 

KPUVKVWVKQPCN YQTMKPI ITQWRU VQ UQNXG 

URGEKHKERTQDNGOU 


# UVTQPI VQQN HQT KORTQXKPI JQTK\QPVCN EQN 

NCDQTCVKQPKPVJGNCUVVYQVJTGG[GCTUJCUDGGP 

VJG'7KPVGITCVKQPRTQEGUU 

2WTUWCPV VQ %/ &GETGG ˜,CPWCT[ 

QPVJGEQQTFKPCVKQPQHVJGCEVKQPUHQTVJG 

RTGRCTCVKQPQHVJG4GRWDNKEQH$WNICTKCVQCE 

EGUUVJG'WTQRGCP7PKQPCPFQPCEEGUUKQPPG 

IQVKCVKQPU C %QQTFKPCVKQP %QOOKVVGG YCU 

GUVCDNKUJGFVQVJG'WTQRGCP+PVGITCVKQP%QWP 

EKN 6JG %QOOKVVGG KU RTGUKFGF D[ C XKEG 

OKPKUVGT QH VJG /KPKUVT[ QH (QTGKIP #HHCKTU 

6JGUG KPUVKVWVKQPU JCXG DGGP GUVCDNKUJGF VQ 

RTGRCTG VJG HWVWTG PGIQVKCVKQPU CPF VQ UWRGT 

XKUG YQTMKPI ITQWRU 9QTMKPI ITQWR 

FGCNU YKVJ GPXKTQPOGPVCN OCVVGTU 6JG *GCF 

QH VJG 'WTQRGCP +PVGITCVKQP &GRCTVOGPV QH 

VJG/1'9KUVJGEJCKTQHVJG9QTMKPIITQWR 

6JG ITQWR EQORTKUGU TGRTGUGPVCVKXGU QH 

OKPKUVTKGUUQEKCNRCTVPGTU0)1UDWUKPGUUGU 

6JG YQTMKPI ITQWR JCU HQTOGF UWDITQWRU 

6JG OCKP VCUM QH VJG YQTMKPI ITQWR KU VQ TG 

XKGYCNNNGICNKPUVTWOGPVUCPFVQGPUWTGVJGKT 

EQORNKCPEGYKVJVJGTGURGEVKXG'7TGIWNCVKQPU 

CPFFKTGEVKXGU 

&GURKVG EGTVCKP KORTQXGOGPV QH KPVGT 

KPUVKVWVKQPCN EQQRGTCVKQP ENQUGT EQQTFKPCVKQP 

QHRQNKEKGUDGVYGGPEGPVTCNIQXGTPOGPVDQFKGU 

KUPGEGUUCT[+PVJGHKTUVOQPVJUQHVJKU 

EQQTFKPCVKQP JCU DGGP TGCEJGF u DGVYGGP 

/1'9 /4&29 /#( /1' /1( /1* 

OCKPN[ QP YCVGT OCPCIGOGPV KUUWGU VJTQWIJ 

VJG GUVCDNKUJOGPV QH CP KPVGTOKPKUVGTKCN 

EQOOKUUKQP VQ VJG OKPKUVGT QH GPXKTQPOGPV 

CPF YCVGT EQORTKUKPI TGRTGUGPVCVKXGU QH VJG 

CDQXGOGPVKQPGFOKPKUVTKGU 

6JG TGIKQPCN IQXGTPOGPVU KP $WNICTKC 

CTG UVTWEVWTGU QH VJG GZGEWVKXG CWVJQTKV[ CV 

TGIKQPCN NGXGN CPF CTG TGURQPUKDNG HQT FGXGN 

QRKPI TGIKQPCN UVTCVGIKGU CPF RTQITCOU CPF 

GPUWTKPI JCTOQPKUCVKQP QH VJG PCVKQPCN CPF 

NQECN KPVGTGUVU CPF RTKQTKVKGU KPENWFKPI KP VJG 

GPXKTQPOGPVCN HKGNF 6JG[ RGTHQTO EQPVTQN 

HWPEVKQPU QP VJG NGICNKV[ QH CFQRVGF NQECN NGI 

KUNCVKQPCPFNQECNCWVJQTKVKGUCEVKQPU 

/WPKEKRCN CWVJQTKVKGU JCXG CP KORQTVCPV 

TQNG KP VJG KORNGOGPVCVKQP QH VJG GPXKTQP 

OGPVCNRQNKE[6JGKTHWPEVKQPUKPENWFG 

x &GXGNQROGPV QH GPXKTQPOGPVCN RTQVGE 

VKQPRTQITCOU 

x /CPCIGOGPVQHVJG/WPKEKRCN(WPFUHQT 

2TQVGEVKQPQHVJG'PXKTQPOGPV/(2' 

x &GXGNQROGPVCPFKORNGOGPVCVKQPQHVJG 

QXGTCNN NQECN RQNKE[ QP EQNNGEVKQP VTCPU 

RQTVCVKQP CPF VTGCVOGPV QH OWPKEKRCN 

UQNKFYCUVG 

x %QPVTQN QXGT VJG FKURQUCN QH YCUVG CPF 

JC\CTFQWUUWDUVCPEGUQPVJGVGTTKVQT[QH 

VJGOWPKEKRCNKV[EQPVTQNCPFKUUWCPEGQH 

RGTOKVUHQTEQPUVTWEVKQPYCUVG 

x %QPUVTWEVKQP OCKPVGPCPEG CPF QRGTC 

VKQPU QH WTDCP YCUVGYCVGT VTGCVOGPV 

RNCPVUCPFOWPKEKRCNNCPFHKNNU 

x 2TQXKUKQP QH KPHQTOCVKQP QP VJG UVCVG QH 

VJGGPXKTQPOGPVVQVJGRWDNKE 

x 'PHQTEGOGPV QH VJG GPXKTQPOGPVCN RTQ 

VGEVKQP NGIKUNCVKQP HQT UOCNN RTQLGEVU QH 

NQECNKORQTVCPEG 

x /CPCIGOGPVCPFWUGQHRTQVGEVGFCTGCU 

CPF OGFKECN RNCPVU QP NCPFU OWPKEKRCN 

RTQRGTV[YCVGTDQFKGUQHYCVGTCPFYC 

VGTHCEKNKVKGUOWPKEKRCNRTQRGTV[ 

&WTKPI VJG NCUV UGXGTCN [GCTU VJG EQPVCEVU 

DGVYGGP VJG /1'9 CPF OWPKEKRCNKVKGU DG 

ECOG OQTG CEVKXG 1PG QH VJG OCKP V[RGU QH 

EQPVCEVU KU VJG FGNKXGT[ QH VTCKPKPI RTQITCOU 

HQT OWPKEKRCN QHHKEKCNU D[ TGRTGUGPVCVKXGU QH 

VJG/1'9WUWCNN[YKVJKPVJGHTCOGQHKPVGT 

PCVKQPCN RTQLGEVU KPKVKCVGF D[ VJG /KPKUVT[ 

/1'9 RWDNKUJGF C UGTKGU QH OGVJQFQNQIKECN 

IWKFGNKPGU HQT OWPKEKRCNKVKGU KP UGXGTCN HKGNFU 

4+'9U CPF *'+U JCXG RGTOCPGPV EQPVCEVU 

YKVJOWPKEKRCNKVKGUCPFUQNXGVQIGVJGTFC[VQ 

FC[GPXKTQPOGPVCNRTQDNGOU2WTUWCPVVQVJG 

NGICN TGSWKTGOGPVU OWPKEKRCNKVKGU ECTT[ QWV 

GXCNWCVKQPQHVJGKORCEVQPVJGGPXKTQPOGPVQH 

UOCNN FGXGNQROGPVU QH NQECN KORQTVCPEG 6JG 

/1'9CPFVJGOWPKEKRCNKVKGUEQQRGTCVGCNUQ 

KP KORNGOGPVKPI OWPKEKRCN KPXGUVOGPV RTQL 

GEVUHKPCPEGFD[VJG0CVKQPCN(WPFHQT2TQVGE 

VKQPQHVJG'PXKTQPOGPV'WTQRGCPCPFKPVGT 

PCVKQPCN RTQITCOU +P QTFGT VQ HCEKNKVCVG VJG 

FKCNQIWGDGVYGGPVJG/1'9CPFVJGOWPKEK 

RCNKVKGU VJG /1'9 EQQRGTCVGU ENQUGN[ YKVJ 

VJG 0CVKQPCN #UUQEKCVKQP QH /WPKEKRCNKVKGU KP 

VJG4GRWDNKEQH$WNICTKC 

&+$//(1*(6 

5QOG VGP PGY NCYU CPF PWOGTQWU UWD 

NGIKUNCVKXGCEVUJCXGDGGPCFQRVGFKPVJGHKGNF 

QH VJG GPXKTQPOGPV FWTKPI VJG NCUV UGXGTCN 

[GCTU 6JG 'WTQRGCP KPVGITCVKQP RTQEGUU DG 

ECOG VJG OCKP ECVCN[UV HQT VJKU TCRKF KO 

RTQXGOGPVQHVJGNGIKUNCVKQP 

6JG NGIKUNCVKQP KP VJG HKGNF QH VJG GPXKTQP 

OGPV TGSWKTGU UVTQPI CFOKPKUVTCVKXG ECRCEKV[ 

HQTKVUKORNGOGPVCVKQPGPHQTEGOGPVCPFOQPK 

VQTKPI 

5GXGTCN GPXKTQPOGPVCN RTQVGEVKQP CPF OCP 

CIGOGPV CTGCU JCXG EQPUKFGTCDN[ NQPIGT KO 

RNGOGPVKPI GZRGTKGPEG KP $WNICTKCP VJCP QVJ 

GTUCPFVJGTGHQTGuCXCKNCDNGGZRGTKGPEGFURG 

EKCNKUVU6JGUGCTGPWENGCTUCHGV[TCFKCVKQPRTQ 

VGEVKQPUQOGCTGCUQHPCVWTGRTQVGEVKQPYCVGT 

CKTCEEKFGPVUCPFPCVWTCNFKUCUVGTUCPFKPVJG 

 


NCUV[GCTUuYCUVGCPF'+#5RGEKHKEUGEVQTUVJCV 

JCXGPQVDGGPNGICNN[TGIWNCVGFTGSWKTGCFOKPKU 

VTCVKXGECRCEKV[HQTVJGKORNGOGPVCVKQPQHPGYN[ 

CFQRVGFNGIKUNCVKQP6JGHQNNQYKPIOCVVGTUCTGQH 

ETKVKECNKORQTVCPEGKPVJKUEQPVGZV 

x 'PHQTEGOGPVQHNGIKUNCVKQPKPENWFKPIKP 

URGEVKQPU OCTMGV UWTXGKNNCPEG DQTFGT 

EQPVTQNTKUMCUUGUUOGPVCEETGFKVCVKQPQH 

EJGOKECNU CPF IGPGVKECNN[ OQFKHKGF QT 

ICPKUOU 

x .CTIG KPFWUVTKCN CEEKFGPVU u EQPVTQN QH 

VJG EQORNKCPEG YKVJ TGSWKTGOGPVU QP 

DGJCNHQHGPVGTRTKUGU 

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GXGP KP CPCN[VKECN OCVGTKCNU UWEJ CU VJG CP 

PWCN TGRQTV QP VJG UVCVG QH VJG GPXKTQPOGPV 

)TGGP $QQM VJG TGCFGT ECPPQV TGEGKXG ENGCT 

WPFGTUVCPFKPI QH VJG GHHGEV QH KORNGOGPVGF 

RQNKEKGU +P UQOG ECUGU KPHQTOCVKQP RTQXKFGF 

VQVJGRWDNKEKUWPFGTUVCPFCDNGQPN[HQTCNKO 

KVGFPWODGTQHURGEKCNKUVUCPFGZRGTVU 

+PHQTOCVKQP VJCV VJG 4+'9U RTQXKFG VQ 

OWPKEKRCNKVKGU HQT VJG RTGRCTCVKQP QH VJG OW 

PKEKRCN GPXKTQPOGPVCN RTQVGEVKQP RTQITCOU 

CPF OWPKEKRCN YCUVG OCPCIGOGPV RTQITCOU 

CNUQETGCVGURTQDNGOU+PHQTOCVKQPCXCKNCDNGKP 

4+'9U KU GZVTGOGN[ TKEJ CPF EQORTGJGPUKXG 

7PHQTVWPCVGN[ VJG HQTOCV QH MGGRKPI VJKU KP 

HQTOCVKQP KU UWEJ VJCV TGSWKTGU EQPUKFGTCDNG 

CFFKVKQPCNRTQEGUUKPI 

%GTVCKP KORTQXGOGPV KU TGIKUVGTGF KP VJG 

RTQXKUKQP QH KPHQTOCVKQP D[ UVCVG CPF OWPKEK 

RCNCWVJQTKVKGUVQEQPUWNVKPIHKTOUCPFQTICPK 

UCVKQPU YQTMKPI QP XCTKQWU RTQLGEVU &GURKVG 

VJG RTQITGUU KP VJKU HKGNF ECUGU CTG PQV TCTG 

YJGP VJG CFOKPKUVTCVKQP KU TGUGTXGF VQYCTFU 

EQPUWNVCPVUCPFHQTIGVUVJCVEQNNGEVGFKPHQTOC 

VKQP KU UGTXKPI PQV QPN[ VJG PGGFU QH VJG TG 

URGEVKXGCWVJQTKV[DWVVJGUQEKGV[CUCYJQNG 

#RTQDNGOVJCVUJQWNFDGUQNXGFKUVJGNCEM 

QH C UWOOCTKUGF NKUV QH EQNNGEVGF CPF OCKP 

VCKPGF GPXKTQPOGPVCN KPHQTOCVKQP KP KPUVKVW 

VKQPUCVEGPVTCNTGIKQPCNCPFNQECNNGXGNVQDG 

CXCKNCDNG CV QPG RNCEG KG ECVCNQIWG KP 

/1'9qUYGDRCIGQTCRTKPVGFECVCNQIWG 

6JG RWDNKE RCTVKEKRCVKQP KP GPXKTQP 

OGPVCNFGEKUKQPOCMKPIKUIWCTCPVGGFD[C 

TCPIG QH NGICN FQEWOGPVU +P CFFKVKQP VJG 

/1'9KPKVKCVGUQVJGTHQTOUQHRWDNKERCTVKEK 

RCVKQPKPFGEKUKQPOCMKPI 

x 2WDNKE JGCTKPIU QH '+# TGRQTVU CTG VJG 

OQUV RQRWNCT CPF NQPI RTCEVKEG %QORG 

VGPV CWVJQTKVKGU u VJG /1'9 QT VJG 

4+'9 u VCMG KPVQ EQPUKFGTCVKQP RTQRQU 

CNU OCFG D[ UVCMGJQNFGTU CV RWDNKE 

JGCTKPIU QH RTQLGEVU WPFGTIQKPI '+# +H 

VJG EQORGVGPV CWVJQTKVKGU FQ PQV VCMG 

KPVQ EQPUKFGTCVKQP VJG QRKPKQP QH VJG 

RWDNKE UVCMGJQNFGTU OC[ CRRGCN DGHQTG 

VJGEQWTV 

x 0)1U TGRTGUGPVCVKXGU QH UEKGPVKUVU CPF 

CNNQVJGTUVCMGJQNFGTUOC[RCTVKEKRCVGKP 

FKUEWUUKQPU QH RTQVGEVGF CTGCU OCPCIG 

OGPVRNCPU6JG[OC[IKXGRTQRQUCNUVQ 

EQORGVGPV CWVJQTKVKGU HQT KPENWUKQP QH 

PGY VGTTKVQTKGU KP VJG NKUV QH RTQVGEVGF 

CTGCU 

x 0)1U CPF VJG RWDNKE OC[ RCTVKEKRCVG 

CPF VJG OWPKEKRCN CWVJQTKVKGU CTG 

QDNKIGF VQ KPXKVG VJGO KP VJG FGXGNQR 

OGPV QH OWPKEKRCN RTQITCOU QP RTQVGE 

VKQP QH VJG GPXKTQPOGPV CPF UWD 

RTQITCOU QP YCUVG OCPCIGOGPV KO 

RTQXGOGPVQHCODKGPVCKTSWCNKV[GVE 

x 0)1U TGRTGUGPVCVKXGU QH UEKGPVKUVU KP 

VGTGUVGF EKVK\GPU CPF HKTOU OC[ RCTVKEK 

RCVGKPFKUEWUUKQPUQHRNCPUHQTTKXGTDC 

UKP OCPCIGOGPV CPF OC[ TGSWGUV KP 


HQTOCVKQP CDQWV UWDOKVVGF CRRNKECVKQP 

HQT KUUWCPEG QH RGTOKVU HQT WUG QH YCVGT 

CPFDQFKGUQHYCVGT 

x 0)1TGRTGUGPVCVKXGUCPFUEKGPVKUVURCT 

VKEKRCVG KP VJG DQCTFU QH FKTGEVQTU QH 

0(2'0'6(/(2' 

x 6JG/1'9QTICPKUGURWDNKEJGCTKPIUQH 

FTCHV GPXKTQPOGPVCN NCYU CPF PCVKQPCN 

RTQITCOU 

x 6JG 2CTNKCOGPVCT[ %QOOKUUKQP QP 'P 

XKTQPOGPVKPXKVGU0)1UCVCNNOGGVKPIU 

YJGPFTCHVNCYUCTGFKUEWUUGF 

#NNVJGUGRTCEVKEGUTGRTGUGPVCNCTIGUWEEGUU 

CEJKGXGFKPVJGNCUVUGXGTCN[GCTU+PVJGUCOG 

VKOG YG UJQWNF OGPVKQP VJCV VJGTG KU UQOG 

FGHKEKGPE[ QH YQTMKPI 0)1U QH PCVKQPCN CPF 

NQECNKORQTVCPEG6JGCPCN[UGUECTTKGFQWVWP 

FGT QVJGT RTQLGEVU UJQY VJCV VJG PWODGT QH 

TGCNN[ HWPEVKQPKPI GPXKTQPOGPVCN 0)1U KP 

$WNICTKC KU UQOG 6JGTG CTG UQOG 

NCVGPV 0)1U VJCV RGTHQTO GPXKTQPOGPVCN 

CEVKQPU QP CP KPEKFGPVCN DCUKU FGRGPFKPI QP 

VJGQDLGEVKXGUQHFKHHGTGPVFQPQTRTQITCOU6JG 

TGSWKTGOGPV HQT C PGY TGIKUVTCVKQP QH PQP 

RTQHKV QTICPKUCVKQPU YKNN FKOKPKUJ VJGKT PWO 

DGT 

+P UWEJ CP GPXKTQPOGPV UVCVG KPUVKVWVKQPU 

CPF NQECN CWVJQTKVKGU UJQWNF OCMG CFFKVKQPCN 

GHHQTVU VQ UWRRQTV VJG VJKTF UGEVQT 5WEJ UWR 

RQTVYKNNJCXGEQPUKFGTCDNGGHHGEVQPVJGRWDNKE 

KPVGTGUV DGECWUG RWDNKE RCTVKEKRCVKQP KP GPXK 

TQPOGPVCN FGEKUKQPOCMKPI KU C UVTQPI NGXGT 

CIG HQT KORTQXGOGPV QH FGEKUKQPUq SWCNKV[ CPF 

TGHNGEVKQPQHVJGKPVGTGUVUQHCNNKPVGTGUVGFRCT 

VKGU 

#PQVJGT KORQTVCPV HQTO QH KPXQNXGOGPV QH 

VJGPQPIQXGTPOGPVCNUGEVQTKPGPXKTQPOGPVCN 

CEVKQPU KU KVU KPENWUKQP KP VJG RTGRCTCVKQP QH 

VJGNGIKUNCVKQP+PVJKUEQPVGZVCIQQFRTCEVKEG 

KU VJG RTGRCTCVKQP QH VJG EWTTGPV 0CVKQPCN 

5VTCVGI[QPVJG'PXKTQPOGPV 

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#XGT[YGNNFGXGNQRGFOQPKVQTKPIU[UVGO 

KU KP RNCEG VJCV RTQXKFGU EQPUKFGTCDNG 

COQWPVQHKORQTVCPVKPHQTOCVKQP 

# U[UVGO QH RTQXKUKQP QH KPHQTOCVKQP VQ 

VJG RWDNKE CDQWV GPXKTQPOGPVCN OCVVGTU 

JCUDGGPGUVCDNKUJGF 

.GICNRTQXKUKQPUYGTGCFQRVGFHQTRWDNKE 

RCTVKEKRCVKQP KP GPXKTQPOGPVCN FGEKUKQP 

OCMKPI 

+PUVKVWVKQPU UJQY ITGCVGT YKNNKPIPGUU VQ 

KPHQTOVJGRWDNKE 

 

 

4GUGCTEJECTTKGFQWVD[%NWDr'EQPQOKMCsWP 

FGTC&GOQETCE[0GVYQTM2TQLGEV 

 

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WPFGTUVCPFCDNG CU HQT VJG GHHKEKGPE[ QH 

GPXKTQPOGPVCNCEVKQPU 

8GT[ QHVGP VJG KPHQTOCVKQP KU WPFGT 

UVCPFCDNG HQT C NKOKVGF PWODGT QH URG 

EKCNKUVU KP VJG TGURGEVGF HKGNF CPF VJG 

NCTIGRWDNKEFQGUPQVWPFGTUVCPFKV 

6GEJPKECN RTQDNGOU GZKUV CU HQT VJG RTQ 

XKUKQPQHrWUCDNGsKPHQTOCVKQPD[4+'9U 

VQOWPKEKRCNKVKGU 

'ZCORNGUUVKNNGZKUVQHPGICVKXGCVVKVWFG 

QPDGJCNHQHEGPVTCNKPUVKVWVKQPUCPFNQECN 

CWVJQTKVKGU VQYCTFU TGSWGUVU HTQO EQP 

UWNVCPVUCPFEQPUWNVKPIQTICPKUCVKQPU 

6JG PWODGT QH TGCNN[ CEVKPI GPXKTQP 

OGPVCN0)1UKUUOCNN 

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+P$WNICTKCWPFGTVQQMUGTKQWURTGRC 

TCVKQP UVGRU VQ UVCTV VJG KPVGITCVKQP QH VJG 

EQWPVT[KPVJG'7 

6JG [GCT YCU ETWEKCN HQT $WNICTKC CU 

HQTKVURTGRCTCVKQPHQTVJGPGIQVKCVKQPUHQT'7 

CEEGUUKQP#VVJGUWOOKVOGGVKPIKP*GNUKPMK 

$WNICTKC JCU DGGP KPXKVGF VQ DGIKP VJG PGIQ 

VKCVKQPU 

$WNICTKC WPFGTUVCPFU VJCV VJG CRRTQZKOC 

VKQP QH VJG NGIKUNCVKQP CPF VJG CFOKPKUVTCVKXG 

U[UVGO YKVJ VJQUG QH VJG 'WTQRGCP 7PKQP 

OGODGTUVCVGUKUCUGTKQWUVCUMVJCVTGSWKTGU 

RTGEKUGRNCPPKPICPFOCPCIGOGPV6JKUKUGU 

RGEKCNN[ VTWG HQT VJG GPQTOQWU KP XQNWOG CPF 

EQORNKEKV[GPXKTQPOGPVCNNGIKUNCVKQP 

+P VJG $WNICTKCP IQXGTPOGPV CFQRVGF 

C0CVKQPCNRTQITCOQPVTCPURQUKVKQPQHVJG'7 

NCYWRFCVGFKP6JG2TQITCOKUVJGHKTUV 

OCLQT UVGR KP VJG RTQEGUU QH CRRTQZKOCVKQP QH 

VJG NGIKUNCVKQP CPF QWVNKPGU VJG FKTGEVKQPU HQT 

VJG CEVKXKVKGU QH VJG IQXGTPOGPVCN KPUVKVWVKQPU 

6JGVCUMUFGHKPGFKPVJG'PXKTQPOGPVCNUGEVKQP 

QH VJG 2TQITCO CTG KORNGOGPVGF ITCFWCNN[ KP 

VJGVKOGHTCOGUNCKFFQYPKPVJG2TQITCO 

+P,WN[VJGDKNCVGTCNUETGGPKPIOGGV 

KPIU $WNICTKCu'% VQ TGXKGY VJG NGIKUNCVKQP KP 

5GEVKQP r'PXKTQPOGPVs ECOG VQ VJGKT GPF 

6JGTGXKGYRTQXKFGFENGCTRQUKVKQPUQPVJGGZ 

RGEVCVKQPUQHVJG'WTQRGCP%QOOKUUKQPCDQWV 

VJGHWNNJCTOQPKUCVKQPCPFGPHQTEGOGPVQHVJG 

RQNKE[CPFNGIKUNCVKQPKPVJKUHKGNF$QVJRCTVKGU 

CITGGF QP VJG EQPENWUKQPU VJCV VJG RTQEGUU QH 

JCTOQPKUCVKQP QH VJG NGIKUNCVKQP KU KP CP CF 

XCPEGFUVCIGCPFVJGRCEGQHVJGYQTMKUUCVKU 

HCEVQT[ 


#V VJG UCOG VKOG KV KU ENGCT VJCV HQT VJG 

UWEEGUUHWN KORNGOGPVCVKQP QH VJG GPXKTQP 

OGPVCNRQNKE[QHVJG'%RTGEKUGSWKEMCPFGH 

HKEKGPVKORNGOGPVCVKQPCPFGPHQTEGOGPVQHVJG 

NGIKUNCVKQP YKNN DG PGGFGF +P VJKU TGICTF 

UVTGPIVJGPKPI IQXGTPOGPVCN KPUVKVWVKQPUq TQNG 

NCTIGRWDNKECPFRTKXCVGKPXGUVOGPVUCPFRWD 

NKE RCTVKEKRCVKQP KP TGUQNXKPI GPXKTQPOGPVCN 

RTQDNGOUCTGETWEKCN 

6JG CPCN[VKECN TGXKGY UETGGPKPI GZGTEKUG 

TGXGCNGF VJCV FWTKPI VJG PGIQVKCVKQPU QP 

%JCRVGTr'PXKTQPOGPVsEQWPVTKGUCRRN[KPI 

HQT CEEGUUKQP VQ VJG '7 YQWNF DG GZRGEVGF VQ 

RTGUGPV FGVCKNGF RTQITCOU QP RTCEVKECN KORNG 

OGPVCVKQP QH GPXKTQPOGPVCN UVCPFCTFU CPF 

ENGCT KFGPVKHKECVKQP QH VJG RTQDNGOU CPF FGCF 

NKPGUHQTVJGKTTGUQNWVKQP 

6Q OGGV VJKU GZRGEVCVKQP CPF VQ RNCP CPF 

EQQTFKPCVG HWTVJGT UVGRU KP 5GRVGODGT 

VJG IQXGTPOGPV CFQRVGF C 0CVKQPCN 2TQITCO 

QPVJG#FQRVKQPQHVJG#SWKU 

6JGRWTRQUGQHVJG2TQITCOKUVQRTQXKFGC 

ENGCT RKEVWTG QH VJG QDNKICVKQPU VJCV OGODGT 

UVCVGU JCXG RWTUWCPV VQ VJG '% NGIKUNCVKQP 

CPFQHKPUVKVWVKQPCNCPFKPXGUVOGPV OGCUWTGU 

VJCV$WNICTKCUJCNNWPFGTVCMGKPQTFGTVQHWNHKN 

KVU QDNKICVKQPU 6JG 2TQITCO KU FGXGNQRGF KP 

FGVCKNU CU HQT GCEJ QH VJG 'WTQRGCP FKTGEVKXGU 

KPENWFKPI OGCUWTGU HKPCPEKCN TGUQWTEGU CPF 

TGURQPUKDNG KPUVKVWVKQPU 6JG 2TQITCO FG 

UETKDGU C OGEJCPKUO QH EQQTFKPCVKQP CPF 

OQPKVQTKPIQHVJGRTQITGUU 

6JG02##KUDCUGFQPVJG'%NGIKUNCVKQPKP 

UGEVQT r'PXKTQPOGPVs CFQRVGF D[ VJG GPF QH 

CPFEQORTKUGUNGICNFQEWOGPVUQHVJG 

'%KPVJGHKGNFQHVJGGPXKTQPOGPV6CDNGU 

CPFuUGGQXGTNGCH 

6JGNGIKUNCVKQPKPUGEVQTr0WENGCT5CHGV[sKU 

EQXGTGF KP C UGRCTCVG FGVCKNGF RTQITCO QP 

VTCPURQUKVKQPQHVJG'%NGIKUNCVKQP&WGVQGZ 

RGEVGF COGPFOGPVU VQ VJG '% NGIKUNCVKQP KP 

UGEVQTr0QKUGsVJKUUGEVQTYCUPQVKPENWFGFKP 

VJGPCVKQPCNRTQITCO 

6QKORTQXGVJGFKCNQIWGYKVJVJGKPUVKVWVKQPU 

QHVJG'7VJGIQXGTPOGPVGUVCDNKUJGF'WTQRGCP 

+PVGITCVKQP %QWPEKN KP VJG /KPKUVT[ QH (QTGKIP 

#HHCKTU 6JG %QWPEKN EQORTKUGU YQTMKPI 

ITQWRU6JG/1'9KUVJGNGCFKPIKPUVKVWVKQPHQT 

9QTMKPI ITQWR r'PXKTQPOGPVs EQORTKUKPI 

TGRTGUGPVCVKXGUQHOKPKUVTKGUCPFQVJGTKPUVKVW 

VKQPU YKVJ HWPEVKQPU KP VJG HKGNF QH VJG GPXKTQP 

OGPV0)1UCPFDWUKPGUUGU6JGYQTMKPIITQWR 

ECTTKGU QWV TGIWNCT OGGVKPIU VQ FKUEWUU FTCHV 

RTQITCOU CPF NGIKUNCVKQP VQ GNCDQTCVG RQNKEKGU 

HQTVJGPGIQVKCVKQPUYKVJVJG'7KPUVKVWVKQPUVQ 

RTGRCTG QRKPKQP UVCVGOGPVU QP FQEWOGPVU TG 

ICTFKPIVJGGPXKTQPOGPVCNUGEVQT 

6Q HWNHKN VJG VCUMU NCKF FQYP KP VJG IQX 

GTPOGPVCN #IGPFC HQT VJG CEEGUUKQP VQ 

VJG '7 VJG /KPKUVT[ QH 'PXKTQPOGPV CPF 

9CVGT GUVCDNKUJGF C 'WTQRGCP +PVGITCVKQP 

&GRCTVOGPVKP6JGFGRCTVOGPVqUOCKP 

HWPEVKQPU CTG VQ EQQTFKPCVG VJG QXGTCNN CE 

VKXKVKGU QH VJG OKPKUVT[ KP VJG FKCNQIWG CPF 

EQQRGTCVKQP YKVJ VJG '7 KPUVKVWVKQPU CPF 

VJGQVJGTOKPKUVTKGUQP'WTQRGCPKPVGITCVKQP 

KUUWGU RCTVKEKRCVG KP FTCYKPI WR QH NGIKUNC 

VKQPCPFRTQITCOUQPKORNGOGPVCVKQPQHVJG 

'7 NGIKUNCVKQP RTGRCTG RQNKEKGU QP VJG RQUK 

VKQP QH $WNICTKC KP VJG PGIQVKCVKQPU HQT CE 

EGUUKQP VQ VJG '7 ECTT[ QWV PGIQVKCVKQPU KP 

VJG UGEVQT r'PXKTQPOGPVs EQQTFKPCVG 

2*#4' VYKPKPI RTQLGEVU KP VJG HKGNF QH VJG 

GPXKTQPOGPV 

#U C TGUWNV QH VJG GHHQTVU QH VJG /1'9 KP 

EQQRGTCVKQPYKVJVJGQVJGTKPUVKVWVKQPUKPVJG 

NCUV VYQ QT VJTGG [GCTU $WNICTKC CEJKGXGF C 

SWKEMRTQITGUUKPVJGRTQEGUUQHJCTOQPKUCVKQP 

QH VJG GPXKTQPOGPVCN NGIKUNCVKQP YKVJ VJG '7 

NGIKUNCVKQP6JGCKOKUVQHKPCNKUGVJGJCTOQPK 

UCVKQPRTQEGUUD[VJGGPFQHVJG[GCT6JG 

TGXKGY QH VJG GPXKTQPOGPV UGEVKQP QH VJG 0C 

VKQPCN2TQITCOHQT #FQRVKQPQH VJG#SWKUCPF 

VJG 0CVKQPCN 2TQITCO QP VTCPURQUKVKQP CPF 

KORNGOGPVCVKQP QH VJG '% NGIKUNCVKQP KP VJG 

GPXKTQPOGPVCN UGEVQT TGXGCNGF UQOG FGNC[ KP 

VJG JCTOQPKUCVKQP QH VJG PCVKQPCN NGIKUNCVKQP 

CPFVJG RTGRCTCVKQPUVGRU HQT KORNGOGPVCVKQP 

KPUWEJHKGNFUHQTYJKEJVJG/1'9KUPQVVJG 

NGCFKPIKPUVKVWVKQP 

$WNICTKC TGEGKXGU XCNWCDNG CUUKUVCPEG KP 

FTCHVKPI PGY NGIKUNCVKQP VJTQWIJ VJG UQECNNGF 

VYKPPKPIRTQLGEVUQH2*#4'CPFVJGDKNCVGTCN 

EQQRGTCVKQP YKVJ IQXGTPOGPVU QH OGODGT 

UVCVGU 

6JG OCKP IQCN KU VQ DGIKP VJG PGIQVKCVKQPU 

YKVJVJG'WTQRGCP7PKQPKPEJCRVGTr'PXKTQP 

OGPVs CU UQQP CU RQUUKDNG +P ,CPWCT[ VJG 

'WTQRGCP +PVGITCVKQP %QWPEKN CRRTQXGF VJG 

0GIQVKCVKQP 2QUKVKQP QH $WNICTKC QP EJCRVGT 

r'PXKTQPOGPVsVQDGRTGUGPVGFVQVJG'WTQRGCP 

%QOOKUUKQP6JGPGIQVKCVKQPUYKNNDGVJGOQUV 

KORQTVCPVCPFUGTKQWUVCUMHQTVJGPGZVUGXGTCN 

[GCTU6JGKORNGOGPVCVKQPQHVJG0CVKQPCNRTQ 

ITCO QP VTCPURQUKVKQP CPF KORNGOGPVCVKQP QH 

VJG 'WTQRGCP NGIKUNCVKQP KP UGEVQT r'PXKTQP 

OGPVs YKNN DG CP KORQTVCPV RTGEQPFKVKQP HQT 

UWEEGUUHWN PGIQVKCVKQPU *CXKPI KP OKPF VJCV 

HQTCNNECPFKFCVGEQWPVTKGUQPGQHVJGOQUVFKHHK 

EWNV HKGNFU QH PGIQVKCVKQPU YKNN DG VJG UGEVQT 

r'PXKTQPOGPVsKVKUXGT[KORQTVCPVVQOCKPVCKP 

FCKN[ QRGTCVKQPCN EQPVCEVU YKVJ VJG TGURGEVKXG 

&KTGEVQTCVGUQHVJG'WTQRGCP%QOOKUUKQP+VKU 

TGEQOOGPFCDNGHQTVJG/1'9VQUGPFCTGRTG 


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KP$TWUUGNUCUUQQPCURQUUKDNG 

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1DLGEVKXGU KP VJG CTGC QH KPVGTPCVKQPCN EQ 

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VKQP YKVJ 'WTQRGCP UVCPFCTFU CPF RTCEVKEGU 

EQQRGTCVKQP QP KPVGTPCVKQPCN GPXKTQPOGPVCN 

EQPXGPVKQPUQHINQDCNCPFTGIKQPCNKORQTVCPEG 

FGGRGPKPIQHTGNCVKQPUYKVJFQPQTKPUVKVWVKQPU 

CPFEQWPVTKGUEQPVKPWCVKQPQHVJGEQQRGTCVKQP 

KP 5QWVJ'CUVGTP 'WTQRG CVVTCEVKQP KORNG 

OGPVCVKQP CPF EQQTFKPCVKQP QH KPVGTPCVKQPCN 

RTQITCOUCPFRTQLGEVU 

$WNICTKC UKIPGF CPF TCVKHKGF QXGT KPVGT 

PCVKQPCN EQPXGPVKQPU KP VJG HKGNF QH VJG GPXK 

TQPOGPV 6JG IQXGTPOGPV RWVU KP C NQV QH GH 

HQTVU HQT VJG KORNGOGPVCVKQP QH VJGUG CITGG 

OGPVU CPF KPEQTRQTCVGU KPVGTPCVKQPCN EQPXGP 

VKQPU CPF RTKPEKRNGU KPVQ VJG PCVKQPCN NGIKUNC 

VKQP (QNNQYKPI VJG TGEQOOGPFCVKQPU QH VJG 

1'%& VGCO KP r4GXKGY QH VJG GPXKTQPOGPVCN 

NGIKUNCVKQP KP $WNICTKC s C TCPIG QH RTQ 

ITCOU JCXG DGGP FGXGNQRGF CPF CRRTQXGF D[ 

VJG IQXGTPOGPV VQ CUUKUV VJG HWNHKNOGPV QH 

EQWPVT[qU QDNKICVKQPU u 0CVKQPCN 5VTCVGI[ QP 

DKQFKXGTUKV[ CPF 0CVKQPCN RNCP HQT RTQVGEVKQP 

QH VJG DKQNQIKECN FKXGTUKV[ 0CVKQPCN ENKOCVG 

EJCPIGCEVKQPRNCP0CVKQPCN2TQITCOQPUWD 

UVCPEGUVJCVFGRNGVGVJGQ\QPGNC[GT0CVKQPCN 

2TQITCOVQRJCUGQWVNGCFGFRGVTQNGVE 

+P VJG RGTKQF VJG HQNNQYKPI KP 

VGTPCVKQPCNEQPXGPVKQPUQTRTQVQEQNUVQEQPXGP 

VKQPUYGTGTCVKHKGF 

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E\7$,(;UHIHUHQFHQXPEHU 

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x 7PKVGF 0CVKQPU (TCOGYQTM %QPXGPVKQP 

QP%NKOCVG%JCPIG 

x %QPXGPVKQP QP DKQNQIKECN FKXGTUKV[ u 

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XGPVKQPQPNQPITCPIGVTCPUDQWPFCT[CKT 

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x %QPXGPVKQP QP VJG EQPUGTXCVKQP QH OK 

ITCVQT[ URGEKGU QH YKNF CPKOCNU CPF CU 

UQEKCVGF YKVJ KV VJTGG CITGGOGPVU %QP 

UGTXCVKQP QH #HTQ#UKCP UGC DKTFU 2TGU 

GTXCVKQP QH DCVU KP 'WTQRG CPF KVU 

COGPFOGPVU 2TGUGTXCVKQP QH YJCNGU 

CPF FQNRJKPU KP $NCEM 5GC /GFKVGTTC 

PGCP CPF CFLCEGPV #VNCPVKE YCVGTU 

 

x $CUGN %QPXGPVKQP QP VJG EQPVTQN QH 

VTCPUDQWPFCT[ OQXGOGPVU QH JC\CTFQWU 

YCUVGU CPF VJGKT FKURQUCN 6JG 

COGPFOGPVU VQ VJG %QPXGPVKQP YGTG 

TCVKHKGFCNUQ 

x $WNICTKC TCVKHKGF VJG .QPFQP CPF %Q 

RGPJCIGP COGPFOGPVU VQ VJG /QPVTGCN 

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Q\QPG NC[GT CPF VJG /QPVTGCN 

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x %QPXGPVKQP QP EQQRGTCVKQP HQT RTQVGE 

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x -[QVQ 2TQVQEQN VQ VJG 7PKVGF 0CVKQPU 

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EQPVTKDWVG VQ UQNXG C TCPIG QH VTCPUDQWPFCT[ 

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RNGOGPVCVKQPQHRTQLGEVUYKVJKPVGTPCVKQPCN 

HKPCPEKCN RCTVKEKRCVKQP +P GNGXGP PGY 

RTQLGEVUJCXGDGGPKPKVKCVGFHKXGQHVJGOYGTG 

UWEEGUUHWNN[ CEEQORNKUJGF 6JGTG CTG RTQLGEVU 

KPVJGHKGNFQHYCVGTRTQVGEVKQPCKTRTQVGE 

VKQP YCUVG OCPCIGOGPV RTGUGTXCVKQP 

QH VJG DKQNQIKECN FKXGTUKV[ GPXKTQPOGPVCN 

NGIKUNCVKQPCPFQVJGTCTGCU#NNRTQLGEVU 

EQPEGTPKPUVKVWVKQPCNUVTGPIVJGPKPIQTKP 

XGUVOGPVFGXGNQROGPVU 

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1'%& VGCO KP VJG r4GXKGY QH GPXKTQPOGPVCN 

CEVKQPU KP $WNICTKC s $WNICTKC JCU FG 

HKPGF RTKQTKV[ CEVKQPU KP CNN CFQRVGF UGEVQTCN 

RTQITCOUKPVJGHKGNFQHVJGGPXKTQPOGPV5GV 

VKPIRTKQTKVKGUJCUDGGPCXGT[WUGHWNGZGTEKUG 

HQTVJGCVVTCEVKQPQHFQPQTUqCUUKUVCPEGDGECWUG 

QH VJG TGSWKTGOGPVU VQ KPXGUV FQPQT OQPG[ KP 

RTQLGEVU YKVJ NCTIG GHHGEV +P VJKU TGICTF VJG 

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VJG RWTRQUG VQ TGXKGY QPIQKPI RTQLGEVU HK 

PCPEGF D[ FKHHGTGPV FQPQTU #V VJKU OGGVKPI 

VJG /1'9 RTGUGPVGF VJG RTKQTKVKGU CPF VJG 

RTQITCOU KP VJG HKGNF QH VJG GPXKTQPOGPV CPF 

RTQLGEVRTQRQUCNUVJCVPGGFHKPCPEKPI 

6JG GUVCDNKUJOGPV QH C URGEKCN FKXKUKQP QH 

VJTGG FGRCTVOGPVU KP VJG /1'9 YCU CP CR 

RTQRTKCVG CPF WUGHWN KPUVKVWVKQPCN FGEKUKQP 

6JG VJTGG FGRCTVOGPVU r'WTQRGCP KPVGITC 

VKQPsr5VTCVGIKGURTGCEEGUUKQPRTQITCOUCPF 

RTQLGEVUs CPF r+PVGTPCVKQPCN %QQRGTCVKQPs 

JCXGCEQQTFKPCVKQPTQNGKP'WTQRGCPKPVGITC 

VKQP CEVKXKVKGU FGXGNQROGPV QH UVTCVGIKGU CPF 

RTQITCOU RTGRCTCVKQP CPF EQQTFKPCVKQP QH 

RTQLGEVUYKVJKPVGTPCVKQPCNHKPCPEKPIKPVGTPC 

VKQPCNEQQRGTCVKQP 

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VCKPU C FCVCDCUG QH RTQLGEVU EQQTFKPCVGF D[ 

VJG /KPKUVT[ CPF HKPCPEGF D[ KPVGTPCVKQPCN 

FQPQTU'CEJ[GCT VJG/KPKUVT[CFQRVUCRNCP 

HQT KPVGTPCVKQPCN CEVKXKVKGU CPF TGRQTVU QP KVU 

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[GV C U[UVGOCVKUGF FCVCDCUG QP RTQLGEVU HQT 

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PQTU 6JG EQQTFKPCVKQP DGVYGGP OKPKUVTKGU 

CPF IQXGTPOGPVCN CIGPEKGU DGVYGGP EGPVTCN 

CPF OWPKEKRCN IQXGTPOGPVU EQPEGTPKPI VJG 

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RNGOGPVGF KPVGTPCVKQPCN RTQLGEVU PGGFU KO 

RTQXGOGPV 

6JG /1'9 KU VJG OCKP KPUVKVWVKQP VJCV 

RTGRCTGU CPF EQQTFKPCVGU VJG GNCDQTCVKQP QH 

VJGRTQLGEVUKPVJGUGEVQTrGPXKTQPOGPVsVQDG 

HKPCPEGFD[2*#4'CPF+52#'%RTQITCOU 

CPF C NCTIG RCTV QH VJG KPUVKVWVKQPCN RTQLGEVU 

WPFGT QVJGT FQPQT RTQITCOU %QQRGTCVKQP 

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QP VJG KORNGOGPVCVKQP QH RTQLGEVU QH VJG 

VTCPUDQWPFCT[RTQITCOQH2*#4'CPF+52# 

6JG /4&29 KU VJG EQQTFKPCVKPI KPUVKVWVKQP 

HQTVJGUGRTQLGEVU+PVJGNCUVVJTGG[GCTU 

 


VYKPPKPIRTQLGEVUJCXGDGGPFGXGNQRGFWPFGT 

VJG 2*#4' RTQITCO EQXGTKPI CNN GPXKTQP 

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HKTUV VYKPPKPI RTQLGEV DGICP DGVYGGP VJG 

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VJG GPXKTQPOGPV RTQVGEVKQP QH PCVWTG CPF 

PWENGCT UCHGV[ VJG (GFGTCN OKPKUVT[ QH VJG 

GPXKTQPOGPVQH#WUVTKCCPFVJG(TGPEJ/KP 

KUVT[ QH WTDCP RNCPPKPI CPF GPXKTQPOGPV 

7PFGT VJKU RTQLGEV C )GTOCP EQORCP[ YCU 

UGNGEVGF CU CP QXGTCNN EQQTFKPCVQT 6JG 

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TQPOGPVCPFPWENGCTUCHGV[FGXGNQRGFC UWE 

EGUUHWN UEJGOG VQ UWRRNGOGPV VJG VYKPPKPI 

RTQLGEVU 6JGUG UEJGOG KPENWFGF RTQLGEVU KO 

RNGOGPVGF WPFGT VJG DKNCVGTCN $WNICTKCP 

)GTOCPCITGGOGPV 

6JG ECRCEKV[ QH VJG OWPKEKRCNKVKGU VQ RTG 

RCTGRTQLGEVRTQRQUCNUCPFVQUGGMHKPCPEKPI 

HQT VJGO KU UVKNN YGCM # VYQ [GCTU RTQLGEV QH 

VJG $TKVKUJ -PQY*QY (WPF KU CKOKPI KO 

RTQXGOGPV QH VJKU ECRCEKV[ 7PFGT VJG RTQLGEV 

OWPKEKRCNKVKGU TGEGKXG VTCKPKPI QP YTKVKPI 

RTQLGEV RTQRQUCNU 9KVJ VJG RWTRQUG VQ CUUKUV 

OWPKEKRCNKVKGU VQ FGHKPG VJGKT RTKQTKVKGU KP VJG 

HKGNF QH VJG GPXKTQPOGPV KP 75#+& 

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CPF CRRTQXCN QH EQWPVT[qU RQNKEKGU NGIKU 

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NKUJGF DGVYGGP KPUVKVWVKQPU CV EGPVTCN 

IQXGTPOGPVNGXGN 

6JG/KPKUVT[QH'PXKTQPOGPVCPF9CVGT 

GUVCDNKUJGF YGNN HWPEVKQPKPI UVTWEVWTCN 

WPKVU CPF KPVGTPCN OGEJCPKUOU HQT FG 

XGNQROGPV CPF KORNGOGPVCVKQP QH VJG 

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$WNICTKC JCU ECTTKGF QWV VJG PGEGUUCT[ 

RTGRCTCVQT[ YQTM CPF KU TGCF[ VQ DGIKP 

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VCVKQP QH VJG '7 GPXKTQPOGPVCN NGIKUNC 

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6JG 2CTNKCOGPV TCVKHKGF VJG #ITGGOGPV 

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RGCP 'PXKTQPOGPV #IGPE[ u C XGT[ KO 

RQTVCPVUVGRQHVJG'7KPVGITCVKQPRTQE 

GUU DGECWUG HQT VJG HKTUV VKOG $WNICTKC 

RCTVKEKRCVGU KP CP KPUVKVWVKQP QH VJG 

%QOOWPKV[CUCHWNNOGODGT 

5GXGTCN CTGCU QT UWDUGEVQTU HTQO VJG 

'WTQRGCP GPXKTQPOGPVCN NGIKUNCVKQP CTG 

PGY HQT VJG EQWPVT[ CPF VJWU TGSWKTG 

EQPEGPVTCVKQPQHGHHQTVUVQETGCVGCFOKP 

KUVTCVKXG ECRCEKV[ HQT VJGKT KORNGOGPVC 

VKQPCPFGPHQTEGOGPV 

9QTMKPI QP VJGKT QYP UGEVQT RTKQTKVKGU 

VJG QVJGT OKPKUVTKGU CPF CIGPEKGU FGNC[ 

VJG CFQRVKQP QH VJG '7 GPXKTQPOGPVCN 

NGIKUNCVKQP KP VJG ECUGU YJGP VJG[ CTG 

VJG NGCFKPI KPUVKVWVKQPU HQT URGEKHKE CU 

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KPVGTPCVKQPCN EQPXGPVKQPU CPF CITGG 

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URKVG QH FKHHKEWNVKGU GZRGTKGPEGF KP VJG 

GEQPQOKE VTCPUKVKQP RGTKQF VJG EQWPVT[ 

FGENCTGU RQNKVKECN YKNN CPF RCTVKEKRCVGU 

CEVKXGN[ KP VJG GHHQTVU QH VJG KPVGTPC 

VKQPCN EQOOWPKV[ VQ UQNXG TGIKQPCN CPF 

INQDCNGPXKTQPOGPVCNRTQDNGOU 

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KPVGTPCVKQPCN FQPQT RTQITCOU QP GPXK 

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%QQTFKPCVKQP DGVYGGP KPUVKVWVKQPU KP 

KPKVKCVKPI CPF KORNGOGPVKPI GPXKTQP 

OGPVCN RTQLGEVU YKVJ KPVGTPCVKQPCN RCT 

VKEKRCVKQPJCUVQDGKORTQXGF 

5RGEKCNGHHQTVUCTGPGEGUUCT[VQKPETGCUG 

OWPKEKRCN ECRCEKV[ CPF CEEGUU VQ KPHQT 

OCVKQP VQ CVVTCEV CPF KORNGOGPV KPVGT 

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RTGXKQWU [GCTU URGPFKPI VJG VTGPF KU ENGCTN[ 

VQYCTF KPETGCUG %QORCTGF VQ VJG KP 

ETGCUG YCU QH CTQWPF RQKPVU (QT VJG HKTUV 

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VJCV VJG RTQVGEVKQP QH VJG GPXKTQPOGPV DG 

EQOGU CP KPETGCUKPIN[ KORQTVCPV RTKQTKV[ CV 

FKHHGTGPVNGXGNUQHIQXGTPCPEG#PCN[UGUQHVJG 

GPXKTQPOGPVCN EQORQPGPVU TGRTGUGPV CFFK 

VKQPCN RTQXG HQT VJKU EQPENWUKQP 6JG[ UJQY 

VJCVCVVJGEWTTGPVUVCIGVJGEQWPVT[FQGUPQV 

HCEG UGTKQWU CPF ETKVKECN GPXKTQPOGPVCN RTQD 

NGOU VJCV TGSWKTG KOOGFKCVGGZVTC OGCUWTGU 

GZEGRVHQTUJQTVCIGQHYCVGTHQTFTKPMKPIRWT 

RQUG CPF GXGP VJG HKPCPEKCN TGUQWTEGU CNNQ 

ECVGF VQ VJKU UGEVQT QH VJG RWDNKE NKHG CTG KP 

ETGCUKPI 

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'EQPQOKE /GOQTCPFWO HQT $WNICTKC VJG 9QTNF 

$CPM 

 

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RTGRCTGF QP VJG DCUG QH PWOGTQWU RTGXKQWU TG 

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RNCPPKPI CPF EQQTFKPCVKQP VQQ +V YKNN CU 

UKUV OWPKEKRCNKVKGU D[ C KFGPVKH[KPI KP 

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IKQPCN NGXGN UQ VJCV VJQUG YJKEJ DTKPI 

ITGCVGUV DGPGHKV YKNN DG KORNGOGPVGF HKTUV 

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Millions of Euro 

500 

450 

400 

Pre-accession funds 

Euro 412 millions 

350 

Local budget & others 

300 

250 

State budget 

Private funds 

200 

150 

100 

50 

0 

1997–1998 (actual) 

2000–2006 (forecast) 

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+PVTQFWEGCrPCVWTGVCZsQPVJGKPEQOGUHTQOHCEKNKVKGUNQ 

ECVGFYKVJKPQTENQUGVQRTQVGEVGFCTGCU 

[GU 

/1'9 [GU 

/1'9 [GU 

/1(/1'9 

/1' 


%QWPEKNQH 

/KPKUVGTU 

6JGTGCTGPQHGGUHQTFGRNGVKQPQHOKPGTCNTGUQWTEGU &GXGNQRCPFKPVTQFWEGCU[UVGOQHTQ[CNVKGUQPOKPGTCN /1( [GU 

TGUQWTEGUQHGEQPQOKEKORQTVCPEG 

6JGGEQPQOKEXCNWGQHCITKEWNVWTCNNCPFKUPQVECN EWNCVGFYJGPVJGNCPFKUWUGFHQTQVJGTRWTRQUGU 

CPFVJGTGCTGPQKPEGPVKXGUVQWUGVJGNCPFHQTCITK 

EWNVWTCNRWTRQUGU 

&GXGNQRCYGNNHWPEVKQPKPINCPFOCTMGV %//1* [GU 

/1* 

[GU 

[GU 


/1'9/1( RCTVKCNN[ 

#RTQXKUKQPYCUCFQRVGFKPVJG2TQVGEVGF 

6GTTKVQTKGU#EV+VJCUPQVDGGPGPHQTEGFKP 

VJGRTCEVKEGFWGVQVCZCFOKPKUVTCVKQPRTQD 

NGOU 

#RRGPFKZ±


+PEQOGUFQPQVEQXGTVJGEQUVUQHUQNKFYCUVGOCP 

CIGOGPVOWPKEKRCNU[UVGOU 

+PETGCUGFRQNNWVKQPQH$NCEM5GC.CTIGTCWVQPQO[ 

QHNQECNCWVJQTKVKGUDWVNCEMQHEQOOQPUVCPFCTFUQT 

IWKFCPEGQPNCPFWUGVQIWCTCPVGGVJGRTGUGTXCVKQP 

QHWPKSWGEQCUVCNCTGCU 

/QPKVQTKPICPFKPHQTOCVKQP 

&WRNKECVKQPCPFNCEMQHEQQTFKPCVKQPQHCKTOQPKVQT 

KPICEVKQPUECTTKGFQWVD[/1'9/1*CPF+/* 

1WVQHFCVGOQFGNUQHCKTSWCNKV[OQPKVQTKPINCEMQH 

OQFGTPGSWKROGPVHQTOQPKVQTKPIQHYCVGTCPFCKT 

SWCNKV[ 

1XGTNCRQHCEVKXKVKGUQHVJG/1'9CPFVJG/1*QP 

YCVGTSWCNKV[EQPVTQN 

4GURQPUKDNG 

+PUVKVWVKQP 

6QKPETGCUGUQNKFYCUVGEQNNGEVKQPHGG .QECNCWVJQTK 

VKGU 

&GXGNQRCRTQITCOQPOCPCIGOGPVQH$NCEM5GCEQCUVCN 

\QPGU 

#HVGTCVTCPUKVKQPRGTKQF/1'9YKNNDGVJGQPN[KPUVKVWVKQP 

VQECTT[QWTTGIWNCTOQPKVQTKPIQHCKTSWCNKV[TGICTFKPICO 

DKGPVCKTSWCNKV[UVCPFCTFU6JG+/*UJCNNRGTHQTOOQPK 

VQTKPITGNCVGFVQVTCPUDQWPFCT[CPFINQDCNRTQDNGOU6JG 

/KPKUVT[QH*GCNVJYKNNECTT[QWVOGCUWTGOGPVUQPN[TG 

NCVGFVQURGEKHKETGUGCTEJGUQPKORCEVQPJWOCPJGCNVJ 

7RFCVGOGVJQFUQHCKTSWCNKV[OQPKVQTKPIRWTEJCUG 

GSWKROGPVHQTOQPKVQTKPIQHYCVGTCPFCKTSWCNKV[FGXGNQR 

CPFFGNKXGTVTCKPKPIRTQITCOU 

'ZEGRVHQTVJGSWCNKV[QHFTKPMKPIYCVGT/1'9UJQWNFDG 

TGURQPUKDNGHQTCNNVJGQVJGTEQPVTQNHWPEVKQPUQPSWCNKV[QH 

YCVGT 

/1'9 

/4&29 

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+/* 


RCTVKCNN[ 

6JG.QECN6CZGUCPF(GGU#EVTGSWKTGUHWNN 

EQUVTGEQXGT[+PVJGNCUVUGXGTCN[GCTUOW 

PKEKRCNEQWPEKNUKPETGCUGFUGXGTCNVKOGUVJG 

HGGQHVJGOWPKEKRCNUQNKFYCUVGOCPCIG 

OGPVUGTXKEG+PUQOGOWPKEKRCNKVKGUVJGHGG 

FQGUPQVEQXGTHWNN[VJGEQUVU 

[GU 

6JG%QWPEKNQH/KPKUVGTUCFQRVGFCRTQITCO 

QPEQPUVTWEVKQPQH79962+ORNGOGPVKPI 

VJKURTQITCOCPWODGTQH79962YGTG 

EQPUVTWEVGFQTCTGDGKPIEQPUVTWEVGFKPVJG 

$NCEM5GCDCUKP2NCPUCTGDGKPIFTCYPWR 

HQTOCPCIGOGPVQHRTQVGEVGFCTGCUKPVJG 

$NCEMUGCEQCUVCN\QPGU/WPKEKRCNKVKGUKP 

ENWFKPIVJQUGKPVJG$NCEM5GCTGIKQPJCXG 

FGXGNQRGFCPFPQYKORNGOGPVYCUVGOCP 

CIGOGPVRTQITCOU 

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#RRGPFKZ±


6JGTGKUPQEQPVTQNQXGTJC\CTFQWUYCUVGCPFTGRQTV 

QPKV 

(QQFUOQPKVQTKPIKUPQVRGTOCPGPVCPFEQ 

QTFKPCVGFCPFVJGTGKUPQEQPVTQNQPVJGSWCNKV[ 

6JGTGKUPQVCXCKNCDNGKPHQTOCVKQPRTGUGPVGFKPCP 

CRRTQRTKCVGYC[HQTFGEKUKQPOCMKPICVTGIKQPCNCPF 

PCVKQPCNNGXGN 

7UWCNN[GPXKTQPOGPVCNFCVCJCXGPQVDGGPRTG 

UGPVGFVQVJGRWDNKE 

+PUVKVWVKQPU 

+PVJGRCUVGPHQTEGOGPVCEVKQPUYGTGPQVCFGSWCVG 

DGECWUGQHVJGKPHNWGPEGQHRQNKVKECNCPFGEQPQOKE 

KPVGTGUVU 

.KOKVGFECRCEKV[VQFGXGNQRRTQITCOUQPYCUVG 

OCPCIGOGPV 

6JG/1'9JCUNKOKVGFECRCEKV[VQKORNGOGPVCU 

UKUVCPEGRTQITCOUFGXGNQRGFD[HQTGKIPKPUVKVWVKQPU 

6JG/1'9JCUNKOKVGFECRCEKV[HQTUWEEGUUHWNRWD 

NKETGNCVKQPU 

6JG/KPKUVT[QH*GCNVJKUTGURQPUKDNGHQTUGVVKPIGP 

XKTQPOGPVCNUVCPFCTFUDWVVJG/1'9KUTGURQPUK 

DNGHQTVJGKTGPHQTEGOGPV 

6JGPWODGTQH4+'9UCPF*'+UKUFKHHGTGPVCPFFQGU 

PQVEQTTGURQPFVQVJGKTJGCFUVTWEVWTG 

'UVCDNKUJCU[UVGOQHENCUUKHKECVKQPCPFKFGPVKHKECVKQPQH 

JC\CTFQWUYCUVGQRRQTVWPKVKGUHQTCPCN[UGUQHVJG 

YCUVGUCTGRQTVKPIU[UVGOQHJC\CTFQWUYCUVGC 

U[UVGOQHOCPCIGOGPVQHFCVCCDQWVIGPGTCVKQPVTCPU 

RQTVCVKQPCPFFKURQUCNQHJC\CTFQWUYCUVG 

'UVCDNKUJCWPKHKGFPGVYQTMQHHQQFEQPVTQNCPFSWCNKV[ 

EQPVTQN 

'UVCDNKUJCEQORTGJGPUKXGKPHQTOCVKQPU[UVGOQHGPXK 

TQPOGPVCNFCVCKPENWFKPIEQNNGEVKQPCPFRTGUGPVCVKQPQH 

KPHQTOCVKQPQPCIGQITCRJKECNDCUKU 

6QFGXGNQRCPFKORNGOGPVRWDNKEGFWECVKQPCPFFKUUGOK 

PCVKQPQHKPHQTOCVKQPRTQITCOU 

5VTGPIVJGPNGICNQRRQTVWPKVKGUVQCUUKUVTGIKQPCNGPXKTQP 

OGPVCNKPURGEVQTCVGUKPGPHQTEKPIVJGNGIKUNCVKQP 

5VTGPIVJGP/1'9ECRCEKV[VQOCPCIGYCUVG+PVTQFWEG 

HWNNTGURQPUKDKNKV[HQTYCUVGOCPCIGOGPVKPVJGEQPVGZVQH 

CENGCTJKIJRTKQTKV[RTQITCOGPUWTGFYKVJVJGPGEGUUCT[ 

UVCHH 

'UVCDNKUJCRTQLGEVOCPCIGOGPVWPKVVJCVJCUVJGTGURQP 

UKDKNKV[VQEQQTFKPCVGCNNCEVKQPUWPFGTKPVGTPCVKQPCNCUUKU 

VCPEGRTQITCOU 

+PETGCUG/1'9ECRCEKV[VQECTT[QWVRTQITCOUQPKP 

HQTOKPICPFGFWECVKPIVJGRWDNKE 

#ODKGPVCKTSWCNKV[UVCPFCTFUUJQWNFDGFGHKPGFD[VJG 

%QWPEKNQH/KPKUVGTUKPEQQRGTCVKQPYKVJVJG/KPKUVT[QH 

*GCNVJ&TKPMKPIYCVGTUVCPFCTFUUJCNNDGFGHKPGFCUCV 

RTGUGPVD[VJG/KPKUVT[QH*GCNVJ 

&TCYWRCPFKPVTQFWEGCHVGTCVTCPUKVKQPRGTKQFCUGRC 

TCVGEQQTFKPCVGFUVTWEVWTGHQT4+'9UCPF*'+UEQTTG 

URQPFKPIVQVJGUVTWEVWTGQHVJGKTJGCFKPUVKVWVKQPU 

4GURQPUKDNG 

+PUVKVWVKQP 

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;GUGZEGRVHQTVJGHCEVVJCV)+5FQPQVEQXGT 

CNNVGTTKVQTKGU 

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/1'9 [GU 

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'ZEGRVHQTVJGCFOKPKUVTCVKXGECRCEKV[KPOW 

PKEKRCNKVKGUCPFPGGFQHCFFKVKQPCNUVCHHKPVJG 

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/1'9/1* PQ 

#RRGPFKZ±


6JGTGURQPUKDKNKV[QPRTQVGEVGFVGTTKVQTKGUKUFKURGTUG 

CPFVJGTGKUPQCURGEKCNKUGFCIGPE[QPPCVWTG 

RTQVGEVKQP 

6JGTGCTGPQRTQITCOUHQTVTCKPKPIQHRCTMURGEKCN 

KUVUCPFTCPIGTU 

.CEMQHSWCNKHKECVKQPHQTFGXGNQROGPVQHRNCPUHQT 

OCPCIGOGPVQHRTQVGEVGFVGTTKVQTKGU 

5JQTVCIGQHHKPCPEKCNUQWTEGUQPRTQVGEVGFCTGCU 

OCPCIGOGPV 

6JGTGURQPUKDKNKVKGUQHVJGNQECNCWVJQTKVKGUHQTGPXK 

TQPOGPVCNRTQVGEVKQPCTGPQVFGHKPGFENGCTN[ 

6JGTGKUPQEQQTFKPCVKQPOGEJCPKUOHQTFTCYKPIWR 

GPXKTQPOGPVCNUVTCVGIKGUCPFRQNKEKGUCVTGIKQPCN 

NGXGN 

6JGEGPVTCNKUGFCRRTQCEJVQVJGKORNGOGPVCVKQPQH 

VJGGPXKTQPOGPVCNRQNKE[KUECPPQVTGHNGEVVJG 

EJCPIGUKPVJGEQPFKVKQPUKPVJGTGIKQPU 

.CEMQHTGUQWTEGUHQTVJGRTQVGEVKQPQHVJGGPXKTQP 

OGPVCVTGIKQPCNCPFNQECNNGXGN 

'UVCDNKUJCPCIGPE[TGURQPUKDNGHQTVJGFGXGNQROGPV 

OCPCIGOGPVCPFOQPKVQTKPIQHCNNRTQVGEVGFVGTTKVQTKGU 

KPENWFKPIYGVNCPFU 

4GURQPUKDNG 

+PUVKVWVKQP 

%QWPEKNQH 

/KPKUVGTU 


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#0CVKQPCN5GTXKEGQP0CVWTGRTQVGEVKQP 

0502CPF&KTGEVQTCVGUQHVJG0CVKQPCN2CTMU 

YGTGGUVCDNKUJGFYKVJKPVJG/1'9 

&TCYWRCSWCNKHKECVKQPRTQITCOHQTRCTMOCPCIGTUCPF /1'99(% [GU 

TCPIGTU 

/1& #NQVQHVTCKPKPIRTQITCOUYGTGFGNKXGTGFHQT 

VJGRGTUQPPGNQHVJG0502CPFVJG&KTGEVQT 

CVGUQHVJG0CVKQPCN2CTMU 

+PVTQFWEGVTCKPKPIRTQITCOQPFTCYKPIWRRTQVGEVGFVGTTK /1((QTGUVT[ RCTVKCNN[ 

VQTKGUOCPCIGOGPVRNCPU 

%QOOKVVGG #4GIWNCVKQPYCUCFQRVGFTGSWKTKPIVJGRTGRC 

TCVKQPQHRNCPUHQTVJGOCPCIGOGPVQHRTQ 

VGEVGFVGTTKVQTKGUDWVKVYCUPQVUGEWTGFD[C 

VTCKPKPIRTQITCO 

%TGCVGCHWPFHQTVJGRTQVGEVKQPQHVJGPCVWTGCPFFGEKFG /1((QTGUV [GU 

QPVJGUJCTGQHVJGKPEQOGUHTQOCr0CVWTGVCZsVQIQVQ %QOOKVVGG 6JG0(2'HKPCPEGUCEVKXKVKGUKPRTQVGEVGFVGT 

VJKUHWPF 

TKVQTKGUCPFHQTVJGRTQVGEVKQPQHVJGDKQFKXGT 

UKV[ 

#UUKIPVJGEQPVTQNQXGTRQNNWVKQPHTQOUOCNNUQWTEGUVQNQ 

[GU 

ECNCWVJQTKVKGU 

'UVCDNKUJTGIKQPCNGPXKTQPOGPVCNEQWPEKNUVJCVYKNNRTQXKFG 4GIKQPU [GU 

TGEQOOGPFCVKQPUVQTGIKQPCNOCPCIGOGPVDQFKGU%QWP /1'9 'ZRGTVGPXKTQPOGPVCNEQWPEKNUVQ4+'9UYGTG 

EKNUUJCNNKPENWFGTGRTGUGPVCVKXGUQHNQECNTGIKQPCNCPF 

GUVCDNKUJGFYKVJTGRTGUGPVCVKXGUQHVJGKPUVKVW 

EGPVTCNIQXGTPOGPVUNCTIGKPFWUVTKGUCPF0)1U 

VKQPURQKPVGFQWVKPR 

+PETGCUGVJGTQNGQHVJG4+'9UCPFCUUKIPVJGOHWPEVKQPU /1'9/1* [GU 

QPRTGRCTCVKQPQHTGIKQPCNGPXKTQPOGPVCNCEVKQPRNCPUPG 

IQVKCVKQPUCPFKUUWCPEGQHRQNNWVGTRGTOKVUTGXKGYQHGPXK 

TQPOGPVCNKORCEVCUUGUUOGPVUGPXKTQPOGPVCNOQPKVQT 

KPIEQQTFKPCVKQPYKVJQVJGTTGIKQPCNCPFNQECNUVCVGKPUVK 

VWVKQPU 

'UVCDNKUJCPGPXKTQPOGPVCNRTQVGEVKQPHWPF /1(/1'9 [GU 

#RRGPFKZ±


4GURQPUKDNG 

+PUVKVWVKQP 


7PUCVKUHCEVQT[TGNCVKQPUQHVJG/1'9YKVJ0)1U 'UVCDNKUJCHQTOCNOGEJCPKUOHQTEQQTFKPCVKPICEVKQPU /1'9 [GU 

2TQEGFWTGUHQT0)1URCTVKEKRCVKQPKPFGEKUKQP 

OCMKPIYGTGKPVTQFWEGFKP'PXKTQPOGPV2TQ 

VGEVKQP#EV'+#4GIWNCVKQP4GFWEVKQPQHVJG 

*CTOHWN+ORCEVQH9CUVGWRQPVJG'PXKTQP 

OGPV#EV0CVWTG2TQVGEVKQP#EV.CYQHVJG 

2WTKV[QH#VOQURJGTKE#KT0)1URCTVKEKRCVGKP 

$QCTFUQH0(2'0'6(YQTMKPIITQWRKPVJG 

/1'9QP'WTQRGCPKPVGITCVKQP'ZRGTVGPXK 

TQPOGPVCNEQWPEKNUKP4+'9UGVE 

+PXGUVOGPVUVGEJPKECNCUUKUVCPEGCPFEQTTG 

URQPFKPIVQVJGOCEVKQPU 

6JGRTGXKQWUKPXGUVOGPVRTQITCOYCUPQVDCUGFQP 

RTKQTKVKGUCPFGHHKEKGPE[ETKVGTKC 

*KIJFGITGGQHEQPEGPVTCVKQPQHRCTVKEWNCVGUKPVJG 

CKTKPUGXGTCNEKVKGUDGECWUGQHVJGNCTIGWUGQHEQCN 

HQTJGCVKPIRWTRQUGU 

*QWUGJQNFUWUGHQTJGCVKPIDTKSWGVVGUCPFEQCNYKVJ 

JKIJEQPVGPVQHUWNRJWTKPTGIKQPUYKVJJKIJEQP 

EGPVTCVKQPQHUWNRJWTFKQZKFGKPVJGCKT 

+PXGUVOGPVUCRRTQXGFD[VJGIQXGTPOGPVUJCNNDGDCUGF 

QPVJGTKUMCUUGUUOGPVCPFCPCN[UGUQHVJGGEQPQOKEGZ 

RGFKGPE[ 

+PXGUVKICVGQRVKQPUVQGPNCTIGVJGPGVYQTMQHICUFGNKXGT[ /1' 

$WNIC\ 

%GCUGVJGUWRRN[QHEQCNYKVJJKIJEQPEGPVTCVKQPQHUWN 

RJWTKPCHHGEVGFTGIKQPUCPFUWDUVKVWVGKVYKVJKORQTVGF 

EQCNYKVJNQYEQPEGPVTCVKQPQHUWNRJWT 

2QNNWVKQPHTQORCUVFKURQUCNQHJC\CTFQWUYCUVG 2TGRCTGCHWNNKPXGPVQT[QHVJGUKVGUCPFENCUUKH[VJGO 

DCUGFQPVJGTKUMHCEVQTUQVJCVPGGFUQHENGCPKPIQHUKVGU 

CTGENGCT 

/1'9 [GU 

2TKQTKV[KPXGUVOGPVUNKUVGFKPVJG0CVKQPCN2TQ 

ITCOQP799620CVKQPCN9CUVG/CPCIG 

OGPV2TQITCO0CVKQPCNRNCPHQTRTQVGEVKQPQH 

VJGDKQFKXGTUKV[0CVKQPCNRTQITCOQPOGCU 

WTGUCICKPUVFTQWIJVJCXGDGGPUGNGEVGFCE 

%QOOKVVGGQH 

'PGTI[/1( 

6QRNKXQ 

/1'9 0Q 

EQTFKPIVQFGXGNQRGFETKVGTKC 

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#TCPIGQHOGCUWTGUJCUDGGPRNCPGFKPVJG 

0CVKQPCN5VTCVGI[QPGPGTI[FGXGNQROGPVCPF 

VJG0CVKQPCN%NKOCVG%JCPIG#EVKQP#NQVQH 

KPFWUVTKCN\QPGUJCXGDGGPICUKHKGF6JGRTQE 

GUUQHICUKHKECVKQPQHJQWUGJQNFUKUURGGFKPI 

WR 

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6JGTGCTGPQKPUVCNNCVKQPUHQTFKURQUCNQHUOCNN 

COQWPVUQHJC\CTFQWUYCUVG 

5JQTVCIGQHKPXGUVOGPVUHQTVJGRTQVGEVKQPQHVJG 

GPXKTQPOGPV 

0GGFQHVGEJPKECNCUUKUVCPEGHQTKORNGOGPVCVKQPQH 

VJGUVTCVGI[ 

%CTT[QWVCEQORTGJGPUKXGKPXGUVKICVKQPQHQRVKQPUHQT 

EQPUVTWEVKQPQHTGIKQPCNKPUVCNNCVKQPUHQTFKURQUCNQHJC\ 

4GURQPUKDNG 

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CTFQWUYCUVG 

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KORNGOGPVCVKQPQHVJGCEVKQPRNCP2TQLGEVUCTG 

EQTTGURQPFKPIVQRTKQTKVKGUNCKFFQYPKPIQX 

GTPOGPVCNRTQITCOU 

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4GIWNCVKQPQPVJGEQPFKVKQPUCPFRTQEGFWTGQHFKUEJCTIGQHKPFWUVTKCN 

YCUVGYCVGTKPWTDCPUGYGTCIGU[UVGOU 

4GIWNCVKQPQPVJGGOKUUKQPNKOKVUQHCFOKUUKDNGEQPVGPVQHFCPIGTQWU 

CPFJC\CTFQWUUWDUVCPEGUKPYCUVGYCVGTFKUEJCTIGFKPDQFKGUQHYCVGT 

4GIWNCVKQPQPKUUWKPIRGTOKVUQPFKUEJCTIGQHYCUVGYCVGTKPTGEGKXKPI 

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4GIWNCVKQPQPVJGSWCNKV[QHYCVGTHQTKTTKICVKQPKPVJGCITKEWNVWTG 

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QHURGPVPWENGCTHWGNKORNGOGPVCVKQPQHVJGRTQITCOQPEQORNKCPEG 

YKVJUCHGV[TGSWKTGOGPVUITCPVKPICNKEGPUGVQVJGGZKUVKPINCPFHKNN 

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HWGNUGVVKPINQPIVGTOQDLGEVKXGUQPHKPCNUVQTCIG 

6JGQXGTCNNUVTCVGI[QPOCPCIGOGPVQHTCFKQCEVKXGYCUVGCVPCVKQPCN 

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NCYTGSWKTGUVJGRNCPCPFVGEJPKECNRTQLGEVVQDGFGXGNQRGFCVNGCUV 

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