|
|
- Aleksandra Czajka
- 7 lat temu
- Przeglądów:
Transkrypt
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15 :\V]F]HJÍOQLHQLH 3U]HP\Vã %XGRZQLFWZR 5ROQLFWZR ãrzlhfwzr OHçQLFWZR *PLQD6LHSUDZ 7
16
17
18
19
20
21 5RN /LVWDG]LDãDå 2JÍãHP 3UDFHSU]\JRWRZDZF]HRF]\V]F]DOQL GODZVL6LHSUDZ 2SUDFRZDQLHSURMHNWXNDQDOL]DFML ZVL6LHSUDZ $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL 1DNãDG\QDZ\ZÍ]LXW\OL]DFMà QLHF]\VWRçFL]WHUHQX*PLQ\.DQDOL]DFMDZVL=DNOLF]\Q %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLX $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XG *P.DQDOL]DFMDZVL=DNOLF]\Q.DQDOL]DFMDZVL6LHSUDZ %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLXFG.RQW\QXRZDQLHNDQDOL]DFMLZVL 6LHSUDZHWDS, $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLXFG %XGRZDNDQDOL]DFMLZVL6LHSUDZ HWDS,FG.DQDOL]DFMDZVL=DNOLF]\Q 'RILQDQVRZDQLH GR 3URJUDPX
22 5RN /LVWDG]LDãDå 2JÍãHP %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,]DNRåF]HQLH 5R]SRF]àFLHEXGRZ\ NDQDOL]DFMLZVL6LHSUDZHWDS,, 5R]SRF]àFLHEXGRZ\NDQDOL ]DFMLZVL6LHSUDZHWDS,,, %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLX]DNRåF]HQLH %XGëH *PLQ.DQDOL]DFMDZVL=DNOLF]\Q $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,,,FG %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,9FG 5D]HP /S =DJDGQLHQLD 6WDQSRZLHWU]D DWPRVIHU\F]QHJR :VNDéQLNLSUHVML 6WàëHQLH]DQLHF]\V]F]HåS\ã ]DZLHV]RQ\ HPLVMD]DQLHF]\V]F]Hå JD]RZ\FKGRSRZLHWU]D ]]DNãDGÍZ VWàëHQLHGZXWOHQNXVLDUNL VWàëHQLHWOHQNÍZD]RWX HPLVMDGZXWOHQNXZàJOD ]]DNãDGÍZ HPLVMDGZXWOHQNXZàJOD]H çurgnízwudqvsruwx HPLVMDWOHQNXZàJOD ]]DNãDGÍZ EUDN EUDN EUDN EUDN
23 /S =DJDGQLHQLD :VNDéQLNLSUHVML LQQH]DQLHF]\V]F]HQLD JD]RZH FDãNRZLWDHPLVMD62 ]WHUHQXSRZLDWX FDãNRZLWDHPLVMD12 ]WHUHQXPLDVWDZW\P]H éuíghãpreloq\fk FDãNRZLWDHPLVMDORWQ\FK ]ZLÜ]NÍZRUJDQLF]Q\FK FDãNRZLWDHPLVMDPHWDOL FLàëNLFK DUVHQ FKURP F\QN NDGP PLHGé QLNLHO RãÍZ UWàÞ EUDN EUDN EUDN EUDN EUDN
24 /S =DJDGQLHQLD =DQLNDQLHR]RQX VWUDWRVIHU\F]QHJR :VNDéQLNLSUHVML ELHëÜFDNRQVXPSFMD ]ZLÜ]NÍZ&)& (XWURIL]DFMD ELHëÜFDNRQVXPSFMD QDZR]ÍZV]WXF]Q\FK PLHU]RQDZMHGQRVWNDFK 1L3 ]Xë\FLHQDZR]ÍZ V]WXF]Q\FK13.QDKD Xë\WNÍZUROQ\FK çflhnlnrpxqdoqh LSU]HP\VãRZHZ\PDJDMÜFH çflhnlnrpxqdoqh LSU]HP\VãRZHRF]\V]F]RQH çflhnlnrpxqdoqh LSU]HP\VãRZHRF]\V]F]RQH FKHPLF]QLHELRORJLF]QH L]SRGZ\ëV]RQ\P XVXZDQLHPELRJHQÍZZÈ OXGQRçÞNRU]\VWDMÜFD ]RF]\V]F]DOQLçFLHNÍZZÈ EUDN EUDN EUDN EUDN
25 /S =DJDGQLHQLD =DWUXFLHJOHELZÍG WRNV\F]Q\PL RGSDGDPL :VNDéQLNLSUHVML 2GSDG\]Z\ãÜF]HQLHP NRPXQDOQ\FKZ\WZRU]RQH ZFLÜJXURNXRJÍãHP>W\V RGSDG\NRPXQDOQHVWDãH Z\WZRU]RQHZFLÜJXURNX RGSDG\NRPXQDOQHVWDãH Z\ZLH]LRQHZFLÜJXURNX VNãDGRZDQHZFLÜJX URNXZÈ Z\ZLH]LRQ\FK,ORçÞSRZVWDMÜF\FKRVDGÍZ 6NãDGRZLVNDRGSDGÍZ SU]HP\VãRZ\FKF]\QQH 6NãDGRZLVNDRGSDGÍZ NRPXQDOQ\FKF]\QQH 2GSDG\QLHEH]SLHF]QH Z\WZRU]RQHZFLÜJXURNX XQLHV]NRGOLZLRQR RG]\VNDQR,ORçÞPRJLOQLNÍZRGSDGÍZ çurgnízurçolqq\fk EUDN
26 /S =DJDGQLHQLD :VNDéQLNLSUHVML
27 /S =DJDGQLHQLD 5ÍëQRURGQRçÞ ELRORJLF]QD :VNDéQLNLSUHVML RGVWU]DãZDëQLHMV]\FK ]ZLHU]ÜWãRZQ\FK MHOHQLH VDUQ\ G]LNL OLV\ ]DMÜFH EDëDQW\ NXURSDWZ\ NDF]NL.UDMREUD] Z\NRU]\VWDQLHSRZLHU]FKQL Xë\WNLUROQH ODV\L]DGU]HZLHQLD JUXQW\ ]XUEDQL]RZDQH EUDN
28 /S =DJDGQLHQLD :VNDéQLNLSUHVML =DVRE\ZRGQH,QWHQV\ZQRçÞXë\WNRZDQLD ]DVREÍZZRGQ\FK SREÍUZRG\QDSRWU]HE\ JRVSRGDUNLQDURGRZHM SREÍUZRG\QDFHOH SURGXNF\MQHSR]D UROQLFWZHPLOHçQLFWZHP ZÈ SREÍUZRG\QD QDZRGQLHQLDZUROQLFWZLH LOHçQLFWZLHRUD] X]XSHãQLHQLHVWDZÍZ U\EQ\FK SREÍUZRG\QD ]DRSDWU]HQLHZRGRFLÜJÍZ NRPXQDOQ\FK SREÍUZRG\]ZÍG SRZLHU]FKQLRZ\FK SREÍUZRG\]ZÍG SRG]LHPQ\FK ]Xë\FLHZRG\QDSRWU]HE\ JRVSRGDUNLQDURGRZHM RJÍãHP ]Xë\FLHZRG\QDSRWU]HE\ SU]HP\VãX ]Xë\FLHZRG\QD ]DRSDWU]HQLHZRGRFLÜJÍZ VLHFLRZ\FK EUDN EUDN EUDN EUDN
29 /S =DJDGQLHQLD :VNDéQLNLSUHVML ]Xë\FLHZRG\ ZJRVSRGDUVWZDFK GRPRZ\FKZ\SRVDëRQ\FK ZVLHÞZRGRFLÜJRZÜ QDPLHV]NDåFD EUDN =DVRE\OHçQH VWRVXQHN NUÍWNRRNUHVRZHJR EUDN WUZDãHJRSU]\FKRGXGR ZDUWRçFLELHëÜFHJRZ\UàEX Xë\WNRZDQLHODVX Z3DåVWZRZ\P EUDN *RVSRGDUVWZLH/HçQ\P /DV\3DåVWZRZHZW\P SR]\VNDQLHRJÍãHP SR]\VNDQLHGUHZQD ]]DGU]HZLHå EUDN SRZLHU]FKQLDSRëDUÍZ ODVÍZZURNX EUDN /LF]EDSRëDUÍZODVÍZ RJÍãHP EUDN ]F]HJRSRGSDOHQLD 'HJUDGDFMDJOHE Z\NRU]\VWDQLH Xë\WNLUROQH ODV\L]DGU]HZLHQLD JUXQW\]DEXGRZDQH L]XUEDQL]RZDQH XE\WHNJUXQWÍZUROQ\FK LOHçQ\FK EUDN
30 /S =DJDGQLHQLD :VNDéQLNLSUHVML =DVRE\]ãÍëNRSDOLQ HNVSORDWDFMDNRSDOLQ HQHUJHW\F]Q\FKZW\V0J ZàJLHONDPLHQQ\ URSDQDIWRZD JD]]LHPQ\ HNVSORDWDFMDNRSDOLQ VNDOQ\FKZW\V0J VXURZFHLODVWH FHUDPLNLEXGRZODQHM
31
32
33
34
35
36
37
38
39
40
41
42 &HOHVWUDWHJLF]QH &HOHRSHUDF\MQH =DG 8U]ÜG]DQLHV]ODNÍZSLHOJU]\ PLHMVFZ\SRF]\QNXGODPLH XU]ÜG]HQLHV]ODNXSLHOJU] EXGRZDFKRGQLNDGODSLH SRZLDWRZHMZ6LH UR]EXGRZDQRZRSRZVWD QDUFLDUVNLHML]DJRVSRGDU SU]\OHJDMÜFHJRGRWHMVWD F]\QLHQLHVWDUDåRZ\EXG UHWHQFMLZHZVL6LHSUDZ 8U]ÜG]HQLHFHQWUXPZVLZ d2gqrzdfhqwuxpzvlp XU]ÜG]HQLHçFLHëHNURZHU WHUHQDFKJPLQQ\FKZ6L LLQIUDVWUXNWXU\WRZDU]\V NRQFHSFMÜ 8GRVWàSQLHQLH]DWRNL]DNOLF] GRVWRVRZDQLHSODQX]DJ SU]HVWU]HQQHJRGRSRWU]H ]DWRNLGRFHOÍZWXU\VW\F] EXGRZDSDUNLQJÍZZRNÍ XU]ÜG]HQLHSODë 8G]LHODQLHSRPRF\ZUR]ZR DJURWXU\VW\F]Q\FKSRSU]H] SRPRFRZ\FKSURZDG]RQÜS 7ZRU]HQLH]DFKàWSRGDWNRZ WZRU]ÜF\FKED]àQRFOHJRZÜ :\VRNLVWDQGDUG ë\fldgod PLHV]NDåFÍZ LDWUDNF\MQH ZDUXQNLGOD WXU\VWÍZ 2GSRZLHGQLD ED]DVSRUWRZR UHNUHDF\MQD 8U]ÜG]HQLHSÍOELZDNRZ\FK
43 &HOHVWUDWHJLF]QH &HOHRSHUDF\MQH =DG 'REU]H ]RUJDQL]RZDQD LIXQNFMRQXMÜFD JRVSRGDUND ZRGQRçFLHNRZD %XGRZDNDQDOL]DFML %XGRZDNDQDOL]DFMLHWD SU]\VLÍãNL:LHç,,,F]àçÞ F]àçÞ %XGRZDNDQDOL]DFMLrHWDS SU]\VLÍãHN*UDELHF]àçÞ,,F]àçÞ.DZàFLQ\LZF 5R]EXGRZDRF]\V]F]DOQL %XGRZDNDQDOL]DFMLrHWD SU]\VLÍãNL,,F]àçÞ*UDELD =Dã\F]DQNDL=DUXVLQNLF %XGRZDNDQDOL]DFMLrHWD SU]\VLÍãNL%U]HJ*UDQLFH %XGRZDNDQDOL]DFMLZHZ SU]\VLÍãHN3DVWHUQLN %XGRZDNDQDOL]DFMLZHZ %XGRZDSU]\GRPRZ\FK W\FKWHUHQDFKJG]LHQLH VLHÞNDQDOL]DF\MQD 3RGHMPRZDQLHG]LDãDåF RGELRUXLZ\ZR]XçFLHNÍ &]\VWH çurgrzlvnr =DJRVSRGDURZD QLHRGSDGÍZ VWDã\FK 2SUDFRZDQLHLUHDOL]DFMDSU RGSDGÍZVWDã\FK &LÜJãDNRQWURODZ\ZR]XRG LUHMHVWUDFMDRUD]OLNZLGDFMD 5R]V]HU]DQLHVHJUHJDFMLçP 3RPRFSU]HGVLàELRUFRPZ RGSDGÍZSRSURGXNF\MQ\FK SRPRF\GODW\FKSU]HGVLàEL 2EQLëHQLH NRV]WÍZ SRQRV]R
44 &HOHVWUDWHJLF]QH &HOHRSHUDF\MQH =DG :SURZDG]HQLHVHJUHJDFMLç 6NXWHF]QD HGXNDFMD HNRORJLF]QD 3URSDJRZDQLHZçUÍGPLHV] 0RGHUQL]DFMDGUÍJJPLQQ\F XG]LDã*PLQ\ZEXGRZLHGU SRSUDZLDMÜF\FKNRPXQLNDFM ]ZãDV]F]D.UDNRZHP XG]LDãZPRGHUQL]DFMLGURJ æzlüwqlnl*íuqhr5dfleru PRGHUQL]DFMDGUÍJZHZQà PRGHUQL]DFMDGUÍJJPLQQ\F =PRGHUQL]RZD QHGURJL SRZLDWRZH JPLQQH LZHZQàWU]QH 3URZDG]HQLHUHPRQWÍZELH Z]DOHëQRçFLRGVWRSQLD]QLV =PRGHUQL]RZD QDVLHÞ HQHUJHW\F]QD 3RGHMPRZDQLHVWDUDåE\= GRNRQ\ZDãELHëÜF\FKUHPR HQHUJHW\F]QHM 8DNW\ZQLHQLHçURGRZLVND* URG]LQQHJRU]HPLRVãDZãDV PLHMVFSUDF\ZW\PGODQLH Z\VWÜSLHQLH]LQLFMDW\ZÜSUD /HDGHU 8WU]\PDQLHZ8U]àG]LH*P *PLQ\L.RPXQLNDFML6SRãHF 3RPRFRZ\FK 'RJRGQHZDUXQNL GRSURZDG]HQLD G]LDãDOQRçFL JRVSRGDUF]HM LLQZHVW\FML 6NXWHF]QD LQIRUPDFMD JRVSRGDUF]D LHIHNW\ZQD SURPRFMD*PLQ\ 6IRUPDOL]RZDQLHG]LDãDMÜFHM XWZRU]HQLHLSRPRFZG]LDã 6HNWRUÍZ :\GDZDQLH,QIRUPDWRUD*P (IHNW\ZQD JRVSRGDUND UROQD 3URPRFMDSRZVWDMÜF\FKJRV DJURWXU\VW\F]Q\FK %H]SLHF]QH %XGRZD RçZLHWOHå XOLF]Q\FK %H]SLHF]QD
45
46
47
48
49
50
51
52
53
54 3UREOHPHNRORJLF]Q\ IRUPDGHJUDGDFML çurgrzlvnd *ãízqhsu]\f]\q\ Z\VWàSRZDQLDSUREOHPX 2JÍOQHPHWRG =DQLHF]\V]F]HQLH SRZLHWU]D DWPRVIHU\F]QHJR LVWQLHQLHPDã\FK]DNãDGÍZ SURGXNF\MQ\FK VWRVRZDQLH LQG\ZLGXDOQHJRRJU]HZDQLD ZàJORZHJR ]ZLàNV]DMÜF\VLàUXFK NRPXQLNDF\MQ\Z*PLQLH ZVSÍãSUDFDQD ]]DNãDGÍZSU]HP SU]HFKRG]HQLH QRZRF]HVQ\FKE WZRU]HQLHLUR]V SURZDG]HQLHQ QLHXë\WNÍZ SRSUDZLHQLHSã +DãDV QLHZLHONLH]DNãDG\ SU]HP\VãRZHLRELHNW\ XVãXJRZH ]ZLàNV]DMÜF\VLàUXFK NRPXQLNDF\MQ\Z*PLQLH SU]HEXGRZD]ã\ PRGHUQL]DFMD] =DQLHF]\V]F]HQLHZÍG SRZLHU]FKQLRZ\FK EUDNVNDQDOL]RZDQLDFDãHJR WHUHQX*PLQ\ SHãQHVNDQDOL]R EXGRZDLQG\Z GRSURZDG]HQLH ]HZ]JOàGXQDE =DQLHF]\V]F]HQLHZÍG SRG]LHPQ\FK QLHV]F]HOQH]ELRUQLNL EH]RGSã\ZRZHOXELFKEUDN SHãQHVNDQDOL]R NRQWURODV]F]HO 'HJUDGDFMDV]DW\ URçOLQQHM GHJUDGDFMDJOHE RJUDQLF]HQLHHP ZãDçFLZDSLHOàJ VWRVRZDQLHJDW ]DOHVLDQLHQLHX Z]ERJDFDQLHJ
55 5RN /LVWDG]LDãDå 2JÍãHP 3UDFHSU]\JRWRZDZF]HRF]\V]F]DOQL GODZVL6LHSUDZL 2SUDFRZDQLHSURMHNWXNDQDOL]DFML ZVL6LHSUDZ $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL 1DNãDG\QDZ\ZÍ]LXW\OL]DFMà QLHF]\VWRçFL]WHUHQX*PLQ\.DQDOL]DFMDZVL=DNOLF]\Q %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLX $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XG *P.DQDOL]DFMDZVL=DNOLF]\Q.DQDOL]DFMDZVL6LHSUDZ %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLXFG.RQW\QXRZDQLHNDQDOL]DFMLZVL 6LHSUDZHWDS, $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLXFG %XGRZDNDQDOL]DFMLZVL6LHSUDZ HWDS,FG.DQDOL]DFMDZVL=DNOLF]\Q 'RILQDQVRZDQLHGR3URJUDPX (GXNDFML(NRORJLF]QHMSURZDG]RQHM SU]H] =*'*5L.
56 %XGëH *PLQ\ 5RN /LVWDG]LDãDå 2JÍãHP %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,]DNRåF]HQLH 5R]SRF]àFLHEXGRZ\ NDQDOL]DFMLZVL6LHSUDZHWDS,, 5R]SRF]àFLHEXGRZ\NDQD OL]DFMLZVL6LHSUDZHWDS,,, %XGRZDRF]\V]F]DOQLçFLHNÍZ Z6LHSUDZLX]DNRåF]HQLH.DQDOL]DFMDZVL=DNOLF]\Q $NFMDÅVSU]ÜWDQLHçZLDWDÅ RUJDQL]RZDQDSU]H]V]NRã\ LZ\ZÍ]QLHF]\VWRçFL %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,,,FG %XGRZDNDQDOL]DFMLZVL 6LHSUDZHWDS,9FG 5D]HP
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72 :\V]F]HJÍOQLHQLH 3U]HP\Vã %XGRZQLFWZR 5ROQLFWZR ãrzlhfwzr OHçQLFWZR *PLQD6LHSUDZ 7
73 *PLQQD /S 0LHMVFRZRçÞ *PLQD 2GELRUQLN 6LHSUDZ 6LHSUDZ 6LHSUDZND
74
75
76
77
78
79
80
81 /S :VNDéQLNSUHVML :,ORçÞZ\WZRU]RQ\FKRGSDGÍZNRPXQDOQ\FK 8G]LDãRGSDGÍZ]VHNWRUDNRPXQDOQHJR 8G]LDãRGSDGÍZNRPXQDOQ\FKXOHJDMÜF\FK ELRGHJUDGDFMLVNãDGRZDQ\FKQDVNãDGRZLVNX WZRU]\ZDV]WXF]QH SDSLHULWHNWXUD V]NãR RSDNRZDQLD]EODFK\VWDORZHM RSDNRZDQLD]DOXPLQLXP RSDNRZDQLDZLHORPDWHULDãRZH
82 /S :VNDéQLNSUHVML Z\NRU]\VWDQR,ORçÞRGSDGÍZSRZVWDMÜF\FKZSODFÍZNDFK RGSDG\RFKDUDNWHU]HNRPXQDOQ\P RGSDG\LQIHNF\MQHLVSHFMDOQH,ORçÞRGSDGÍZPHG\F]Q\FKSRZVWDMÜF\FK
83 /S èuígãdsrzvwdzdqldrgsdgíz 2GSDG\]JRVSRGDUVWZGRPRZ\FK 2GSDG\]RELHNWÍZLQIUDVWUXNWXU\ 2GSDG\ZLHONRJDEDU\WRZH
84 /S )UDNFMHRGSDGÍZ 2GSDG\ GRPRZH ZLHç ] 2GSDG\RUJDQLF]QHSRFKRG]HQLD URçOLQQHJR 2GSDG\RUJDQLF]QHSRFKRG]HQLD ]ZLHU]àFHJR,QQHRGSDG\RUJDQLF]QH 3DSLHULWHNWXUD 7ZRU]\ZDV]WXF]QH 0DWHULDã\WHNVW\OQH 6]NãR 0HWDOH 2GSDG\PLQHUDOQH )UDNFMDGUREQDPP 5D]HP /S 6WUXPLHåRGSDGÍZNRPXQDOQ\FK D E F 'RPRZHRGSDG\RUJDQLF]QHZW\P RGSDG\RUJDQLF]QHURçOLQQH RGSDG\RUJDQLF]QH]ZLHU]àFH RGSDG\RUJDQLF]QHLQQH 2GSDG\]LHORQH 3DSLHULWHNWXUDQLHRSDNRZDQLRZH 2SDNRZDQLD]SDSLHUXLWHNWXU\ 2SDNRZDQLDZLHORPDWHULDãRZH 7ZRU]\ZDV]WXF]QHQLHRSDNRZDQLRZH 2SDNRZDQLD]WZRU]\ZV]WXF]Q\FK 7HNVW\OLD
85 /S :\V]F]HJÍOQLHQLH 'UHZQR 0HWDOH,QQHEDODVWRZHPDWHUDFHSODVWLNLWS 5D]HP 6SU]àW 6WDO ëhod]r 6WRS\ PLHG]L 'XUDOH,QQH PHWDOH NRORURZH 7ZRU] V]WXF.XFKQLH JD]RZH 3UDONL ZLUÍZNL 3UDONL DXWRPDW &KãRG]LDUNL ]DPUDëDUNL 2GNXU]DF]H 0DV]\Q\GR V]\FLD /S :\V]F]HJÍOQLHQLH &HJãD %HWRQ 7ZRU]\ZDV]WXF]QH %LWXPLF]QDSRZLHU]FKQLDGUÍJ 'UHZQR 0HWDOH 3LDVHN,QQH 5D]HP
86 /S :\V]F]HJÍOQLHQLH 2GSDG\RUJDQLF]QH 2GSDG\PLQHUDOQH 5D]HP /S :\V]F]HJÍOQLHQLH 2GSDG\PLQHUDOQH
87 5RG]DMRGSDGÍZ,ORçÞRGS 2GSDG\EXGRZODQHr&HJãD 2GSDG\EXGRZODQHr%HWRQ 2GSDG\EXGRZODQHr7ZRU]\ZD V]WXF]QH 2GSDG\EXGRZODQHr%LWXPLF]QD SRZLHU]FKQLDGUÍJ 2GSDG\EXGRZODQHr'UHZQR 2GSDG\EXGRZODQHr0HWDOH 2GSDG\EXGRZODQHr3LDVHN 2GSDG\EXGRZODQHr,QQH 2GSDG\EXGRZODQH
88 5RG]DMRGSDGÍZ,ORçÞRGS 2GSDG\QLHEH]SLHF]QHr=Xë\WHROHMH 2GSDG\QLHEH]SLHF]QHr,QQH ZW\PLQQHVXEVWDQFMHFKHPLF]QH QSNZDV\L]DVDG\SHVW\F\G\ FKHPLF]QHSURGXNW\ODERUDWRU\MQH 2GSDG\QLHEH]SLHF]QH 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH.XFKQLH JD]RZHJD]RZRHOHNWU\F]QH 2GSDG\ZLHONRJDEDU\WRZHr3UDONL DXWRPDW\F]QHSUDONRrVXV]DUNL 2GSDG\ZLHONRJDEDU\WRZHr &KãRG]LDUNL]DPUDëDUNL 2GSDG\ZLHONRJDEDU\WRZHr 2GNXU]DF]H 2GSDG\ZLHONRJDEDU\WRZHr0DV]\Q\ GRV]\FLD 2GSDG\ZLHONRJDEDU\WRZHr3UDONL ZLUÍZNL,ORçÞRGS 2GSDG\ZLHONRJDEDU\WRZH
89 5RG]DMRGSDGÍZ 2GSDG\NRPXQDOQH 2GSDG\RUJDQLF]QH URçOLQQH 2GSDG\RUJDQLF]QH ]ZLHU]àFH 2GSDG\RUJDQLF]QHLQQH 2GSDG\]LHORQH 3DSLHULWHNWXUD QLHRSDNRZDQLRZH 2SDNRZDQLD]SDSLHUX LWHNWXU\ 2SDNRZDQLD ZLHORPDWHULDãRZH 7ZRU]\ZDV]WXF]QH QLHRSDNRZDQLRZH 2SDNRZDQLD]WZRU]\Z V]WXF]Q\FK 7HNVW\OLD 6]NãRQLHRSDNRZDQLRZH 2SDNRZDQLD]HV]NãD 0HWDOH 2SDNRZDQLD]EODFK\ VWDORZHM 2SDNRZDQLD]DOXPLQLXP 2GSDG\PLQHUDOQH 'UREQDIUDNFMDSRSLRãRZD 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH 2GSDG\ZLHONRJDEDU\WRZH.XFKQLHJD]RZHJD]RZR HOHNWU\F]QH 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH6WDO ëhod]r
90 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH 6WRS\PLHG]L 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH 'XUDOH 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH,QQH PHWDOHNRORURZH 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH 7ZRU]\ZDV]WXF]QH 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH 6]NãR 2GSDG\ZLHONRJDEDU\WRZH r.xfkqlhjd]rzh JD]RZRHOHNWU\F]QH,QQH PDWHULDã\ 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNL 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr6WDO ëhod]r 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr6WRS\ PLHG]L 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr 7ZRU]\ZDV]WXF]QH
91 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr6]NãR 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr0DW HOHNWURWHFKQLF]QH 2GSDG\ZLHONRJDEDU\WRZH r3udonldxwrpdw\f]qh SUDONRrVXV]DUNLr,QQH PDWHULDã\ 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunl 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr 6WDOëHOD]R 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr 6WRS\PLHG]L 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr 'XUDOH 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr 7ZRU]\ZDV]WXF]QH 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr 6]NãR 2GSDG\ZLHONRJDEDU\WRZH r&kãrg]ldunl]dpudëdunlr,qqhpdwhuldã\ 2GSDG\ZLHONRJDEDU\WRZH r 2GNXU]DF]H
92 5RG]DMRGSDGÍZ 2GSDG\ZLHONRJDEDU\WRZH r2gnxu]df]hr7zru]\zd V]WXF]QH 2GSDG\ZLHONRJDEDU\WRZH r2gnxu]df]hr,qqh PDWHULDã\ 2GSDG\ZLHONRJDEDU\WRZH r0dv]\q\grv]\fld 2GSDG\ZLHONRJDEDU\WRZH r0dv]\q\grv]\fldr6wdo ëhod]r 2GSDG\ZLHONRJDEDU\WRZH r0dv]\q\grv]\fldr,qqh PHWDOHNRORURZH 2GSDG\ZLHONRJDEDU\WRZH r0dv]\q\grv]\fldr 7ZRU]\ZDV]WXF]QH 2GSDG\ZLHONRJDEDU\WRZH r0dv]\q\grv]\fldrlqqh PDWHULDã\ 2GSDG\ZLHONRJDEDU\WRZH r3udonlzluíznl 2GSDG\ZLHONRJDEDU\WRZH r3udonlzluíznlr6wdo ëhod]r 2GSDG\ZLHONRJDEDU\WRZH r3udonlzluíznlr6wrs\ PLHG]L 2GSDG\ZLHONRJDEDU\WRZH r3udonlzluíznlr,qqh PHWDOHNRORURZH 2GSDG\ZLHONRJDEDU\WRZH 3 ONL L Í NL
93 5RG]DMRGSDGÍZ 2GSDG\EXGRZODQH 2GSDG\EXGRZODQHr &HJãD 2GSDG\EXGRZODQHr %HWRQ 2GSDG\EXGRZODQHr 7ZRU]\ZDV]WXF]QH 2GSDG\EXGRZODQHr%LWX PLF]QDSRZLHU]FKQLDGUÍJ 2GSDG\EXGRZODQHr 'UHZQR 2GSDG\EXGRZODQHr 0HWDOH 2GSDG\EXGRZODQHr 3LDVHN 2GSDG\EXGRZODQHr,QQH 5RG]DMRGSDGÍZ 2GSDG\QLHEH]SLHF]QH 2GSDG\QLHEH]SLHF]QHr $HUR]ROH 2GSDG\QLHEH]SLHF]QHr $NXPXODWRU\ 2GSDG\QLHEH]SLHF]QHr %DWHULH 2GSDG\QLHEH]SLHF]QHr )DUE\L/DNLHU\ 2GSDG\QLHEH]SLHF]QHr )DUPDFHXW\NL 2GSDG\QLHEH]SLHF]QHr 5R]SXV]F]DOQLNL 2GSDG\QLHEH]SLHF]QHr æzlhwoíznl 2GSDG\QLHEH]SLHF]QHr =Xë\WHROHMH 2GSDG\QLHEH]SLHF]QHr,QQHZW\PLQQHVXEVWDQ FMHFKHPLF]QHQSNZDV\ L]DVDG\SHVW\F\G\FKHPL F]QHSURGXNW\ODERUDWRU\MQH
94
95
96
97 5RG]DMRGSDGX /LPLWÈ,ORçÞ0J /LPLWÈ 2GSDG\ELRGHJUDGRZDOQH W0LHMVNLH 2GSDG\ZLHONRJDEDU\WRZH 2GSDG\EXGRZODQH 2GSDG\QLHEH]SLHF]QH 2SDNRZDQLD]SDSLHUXLWHNWXU\ 2SDNRZDQLD]HV]NãD 2SDNRZDQLD]WZRU]\ZV]WXF]Q\FK 2SDNRZDQLDPHWDORZH 2SDNRZDQLDZLHORPDWHULDãRZH
98
99
100
101
102
103
104
105
106
107
108
109
110
111 /S =DGDQLDGRUHDOL]DFML -HG UHDO 2SUDFRZDQLHL]DWZLHUG]HQLHJPLQQHJRSODQX JRVSRGDUNLRGSDGDPL XU]ÜG :SURZDG]HQLHVHOHNW\ZQHM]ELÍUNLVXURZFÍZ ZWÍUQ\FKZ*PLQLH]XZ]JOàGQLHQLHP]ELÍUNL RGSDGÍZNRPXQDOQ\FKXOHJDMÜF\FKELRGHJUDGDFML XU]ÜG SU]HGV :SURZDG]HQLH]ELÍUNLRGSDGÍZQLHEH]SLHF]Q\FK XU]ÜG SU]HGV :SURZDG]HQLH]ELÍUNLRGSDGÍZZLHONRJDEDU\WRZ\FK RUD]Z\FRI\ZDQ\FK ]HNVSORDWDFMLXU]ÜG]HåHOHNWU\F]Q\FKLHOHNWURQLF]Q\FK XU]ÜG SU]HGV %XGRZD*PLQQHJR3XQNWX*URPDG]HQLD2GSDGÍZ 1LHEH]SLHF]Q\FK XU]ÜG SU]HGV 2NUHçOHQLHéUÍGHãSRZVWDZDQLDRGSDGÍZ ZHWHU\QDU\MQ\FKRUJDQL]DFMDV\VWHPXRGELRUX XU]ÜG SU]HGV :GURëHQLHV\VWHPX]ELHUDQLDSDGã\FK]ZLHU]ÜW XU]ÜG
112 /S =DGDQLDGRUHDOL]DFML -HG UHD %XGRZD3RZLDWRZHJR3XQNWX*URPDG]HQLD 3DGã\FK=ZLHU]ÜW XU]ÜG SU]HG 3RGQRV]HQLHçZLDGRPRçFLHNRORJLF]QHM VSRãHF]HåVWZDZ]DNUHVLHJRVSRGDUNLRGSDGDPL 6WDURVW 8VXZDQLHZ\UREÍZD]EHVWRZRFHPHQWRZ\FK PLHV * %XGRZDVWDFMLVHJUHJDFML]VRUWRZQLÜRGSDGÍZ LRELHNWDPLWRZDU]\V]ÜF\PLWMOLQLÜGHPRQWDëX RGSDGÍZZLHONRJDEDU\WRZ\FKRG]\VNXLUHF\NOLQJX RGSDGÍZEXGRZODQ\FKLUHPRQWRZ\FKDWDNëH PDJD]\QRZDQLDRGSDGÍZQLHEH]SLHF]Q\FK = *RV 2GS 5R]ZÍMVHOHNW\ZQHM]ELÍUNLVXURZFÍZZWÍUQ\FK XU]ÜG SU]HG 5R]ZÍMVHOHNW\ZQHM]ELÍUNLRGSDGÍZ ELRGHJUDGRZDOQ\FK XU]ÜG SU]HG 5R]ZÍMVHOHNW\ZQHM]ELÍUNLRGSDGÍZ QLHEH]SLHF]Q\FK XU]ÜG SU]HG 5R]ZÍMVHOHNW\ZQHM]ELÍUNLRGSDGÍZZLHONR JDEDU\WRZ\FKRUD]Z\FRI\ZDQ\FK]HNVSORDWDFML XU]ÜG]HåHOHNWU\F]Q\FKLHOHNWURQLF]Q\FK XU]ÜG SU]HG 8VXZDQLHZ\UREÍZD]EHVWRZRrFHPHQWRZ\FK PLH * 5R]EXGRZDVWDFMLVHJUHJDFML]VRUWRZQLÜRGSDGÍZ LRELHNWDPLWRZDU]\V]ÜF\PLWMOLQLÜGHPRQWDëX RGSDGÍZZLHONRJDEDU\WRZ\FKRG]\VNXLUHF\NOLQJX RGSDGÍZEXGRZODQ\FKLUHPRQWRZ\FKDWDNëH PDJD]\QRZDQLDRGSDGÍZQLHEH]SLHF]Q\FK = *RV 2G
113
114
115
116
117
118
119 /S :VNDéQLNFKDUDNWHU\]XMÜF\JRVSRGDUNàRGSDGDP JRVSRGDUF]\,ORçÞZ\WZDU]DQ\FKRGSDGÍZZVHNWRU]HJRVSRGDUF]\ ZW\P QLHEH]SLHF]Q\FK 6SRVÍE]DJRVSRGDURZDQLDRGSDGÍZ]VHNWRUDJRVSRG ZW\P PDJD]\QRZDQH RG]\VNDQH XQLHV]NRGOLZLRQHSR]DVNãDGRZDQLHP VNãDGRZDQH 6SRVÍE]DJRVSRGDURZDQLDRGSDGÍZQLHEH]SLHF]Q\FK PDJD]\QRZDQH RG]\VNDQH XQLHV]NRGOLZLRQHSR]DVNãDGRZDQLHP VNãDGRZDQH Z\NRU]\VWDQR QLH]UHNXOW\ZRZDQ\FK ]UHNXOW\ZRZDQ\FK ]DNãDG\WHUPLF]QHMXW\OL]DFMLRGSDGÍZ VNãDGRZLVNDRGSDGÍZQLHQLHEH]S ZW\PVNãDGRZLVNDRGSDGÍZQLHEH]SLHF]Q\FK LQQHLQVWDODFMH,ORçÞRGSDGÍZSRZVWDMÜF\FKZSODFÍZNDFKPHG\F]Q\ RGSDG\RFKDUDNWHU]HNRPXQDOQ\P RGSDG\LQIHNF\MQHLVSHFMDOQH
120 /S :VNDéQLNFKDUDNWHU\]XMÜF\JRVSRGDUNàRGSDGDP JRVSRGDUF]\,ORçÞ]DNãDGÍZWHUPLF]QHMXW\OL]DFMLRGSDGÍZPHG\F]Q
121
122 5RN 6WUXPLHåRGSDGÍZ 0J 2GSDG\SRZVWDMÜFH ZSODFÍZNDFKVãXëE\ ]GURZLD 2GSDG\]JUXS\$ 2GSDG\]JUXS\%&' :W\P]JUXS\% :W\P]JUXS\&' 2GSDG\PHG\F]QH SRZVWDMÜFH ZSU\ZDWQ\FK JDELQHWDFKOHNDUVNLFK RNÈ 2GSDG\ZHWHU\QDU\MQH RNÈVWUXPLHQLD RGSDGÍZSRZVWDMÜF\FK ZSODFÍZNDFKVãXëE\ ]GURZLD 5D]HP
123 5RG]DMRGSDGX /LPLWÈ,ORçÞ0J /LPLWÈ 2GSDG\ELRGHJUDGRZDOQH W0LHMVNLH 2GSDG\ZLHONRJDEDU\WRZH 2GSDG\EXGRZODQH 2GSDG\QLHEH]SLHF]QH 2SDNRZDQLD]SDSLHUXLWHNWXU\ 2SDNRZDQLD]HV]NãD 2SDNRZDQLD]WZRU]\ZV]WXF]Q\FK 2SDNRZDQLDPHWDORZH 2SDNRZDQLDZLHORPDWHULDãRZH
124
125 /S 8G]LDãRGSDGÍZ]VHNWRUDNRPXQDOQHJRVNãDGRZDQ\FK 8G]LDãRGSDGÍZNRPXQDOQ\FKXOHJDMÜF\FKELRGHJUDGDF WZRU]\ZDV]WXF]QH SDSLHULWHNWXUD V]NãR RSDNRZDQLD]EODFK\VWDORZHM RSDNRZDQLD]DOXPLQLXP RSDNRZDQLDZLHORPDWHULDãRZH 8G]LDãRG]\VNLZDQ\FKVXURZFÍZZWÍUQ\FKZFDãNRZLW\ WZRU]\ZDV]WXF]QH SDSLHULWHNWXUD Nã
126 /S :VNDéQLNFKDUDNWHU\]XMÜF\JRVSRGDUNàRGSDGDP JRVSRGDUF]\,ORçÞZ\WZDU]DQ\FKRGSDGÍZZVHNWRU]HJRVSRGDUF]\ ZW\P QLHEH]SLHF]Q\FK 6SRVÍE]DJRVSRGDURZDQLDRGSDGÍZ]VHNWRUDJRVSRG ZW\P PDJD]\QRZDQH RG]\VNDQH XQLHV]NRGOLZLRQHSR]DVNãDGRZDQLHP VNãDGRZDQH 6SRVÍE]DJRVSRGDURZDQLDRGSDGÍZQLHEH]SLHF]Q\FK PDJD]\QRZDQH RG]\VNDQH XQLHV]NRGOLZLRQHSR]DVNãDGRZDQLHP VNãDGRZDQH Z\NRU]\VWDQR QLH]UHNXOW\ZRZDQ\FK ]UHNXOW\ZRZDQ\FK ]DNãDG\WHUPLF]QHMXW\OL]DFMLRGSDGÍZ VNãDGRZLVNDRGSDGÍZQLHQLHEH]S ZW\PVNãDGRZLVNDRGSDGÍZQLHEH]SLHF]Q\FK LQQHLQVWDODFMH,ORçÞRGSDGÍZSRZVWDMÜF\FKZSODFÍZNDFKPHG\F]Q\ RGSDG\RFKDUDNWHU]HNRPXQDOQ\P RGSDG\LQIHNF\MQHLVSHFMDOQH,ORçÞ]DNãDGÍZWHUPLF]QHMXW\OL]DFMLRGSDGÍZPHG\F]Q
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
=DVLH Z\ RJÍãH P 3V]H QLFD R]LPD 3V]HQL FDMDUD ê\wr -àf] PLHå R]LP\ -à F]PLHå MDU\ 2ZLHV 3V ë\ R] %\GãR 7U]RGDFKOHZQD 2JÍãHP :W\PNURZ\ 2JÍãHP ZW\PORFK\ 2JÍãHP 5ROQLFWZR ãrzlhfwzr LOHçQLFWZR 3U]HWZÍUVWZR
:VNDéQLNÃERQLWDFML. 5]Hé WHUH $JURNOLPDWXÃ
/S 3RZLDWGÜEURZVNL 3RZLDWJPLQD -DNRçFL LSU]\GDWQRçFL UROQLF]HM :VNDéQLNERQLWDFML $JURNOLPDWX 5]Hé WHUH %ROHVãDZ 'ÜEURZD7DUQRZVND *UàERV]ÍZ 0àGU]HFKÍZ 2OHVQR 5DGJRV]F] 6]F]XFLQ 3RZLDW*PLQ\ 2JÍãHP 0àë 'ÜEURZD7DUQRZVND
/XGQRçÞÃ]DPLHV]NXMÜFDÃZÃUÍëQ\FKÃW\S VRãHFWDÃ*PLQ\Ã Ã /LF]EDÃPLHV]NDåFÍZÃ /LF]EDÃJRV =DEXGRZDÃ MHGQRURG]LQQDÃ ZLHORURG]LQQDÃ
'XëHP P0U NJ0U /XGQRçÞ]DPLHV]NXMÜFDZUÍëQ\FKW\S VRãHFWD*PLQ\ /LF]EDPLHV]NDåFÍZ /LF]EDJRV =DEXGRZD MHGQRURG]LQQD =DEXGRZD ZLHORURG]LQQD 5D]HP /S 6RãHFWZR,ORçÞZ\VRUW VXU ZWÍUQ\FK ]H VWUXPLHQLD RGSDGÍZ NRP0JURN
1D]ZDVWUXPLHQLDRGSDGÍZ 8G]LDã È,ORçÞ RJÍãHP 0J ]JRVSRGDUVWZGRPRZ\FK È ]RELHNWÍZLQIUDVWUXNWXU\ È RGSDG\EXGRZODQH È RGSDG\ZLHONRJDEDU\WRZH È RGSDG\]F]\V]F]HQLDXOLF LSODFÍZ È RGSDG\]RJURGÍZLSDUNÍZ È RGSDG\QLHEH]SLHF]QH
3U]HG]LDãÃZLHNXà 2JÍãHPà 0àëF]
7DEHOD 6WUXNWXUDGHPRJU 3U]HG]LDãZLHNX 2JÍãHP 0àëF] r r r r r r r r r r r r LZLàFHM 5D]HP Z LHNSU]HGSURGXNF\MQ\ Z LHNSURGXNF\MQ\ ZLHNSRSURGX *PLQD,ORçÞSUÍE 0LQ 0D[ æuhg 3URFHQWRZ\XG],.$'0&G 6WU\V]DZD
6WUXPLHåÃRGSDGÍZÃNRPXQDOQ\FKÃ.,ORçÞÃRGSDGÍZà SRZVWDMÜFDÃQDà WHUHQLHÃJPLQ\Ã. 8G]LDãà SURFHQWRZ\Ã
/S 6WUXPLHåRGSDGÍZNRPXQDOQ\FK :VNDéQLNGODZVL >NJ0U@,ORçÞRGSDGÍZ SRZVWDMÜFDQD WHUHQLHJPLQ\ >0J@ 8G]LDã SURFHQWRZ\ >È@ 2GSDG\NXFKHQQHXOHJDMÜFHELRGHJUDGDFML 2GSDG\]LHORQH 3DSLHULWHNWXUDQLHRSDNRZDQLRZH 2SDNRZDQLD]SDSLHUXLWHNWXU\
JUXQW\UROQH VDG\ á NL SDVWZLVND /S 0LHMVFRZRçÞ 5RZ\ PHOLRUDF\MQH NP 2EV]DU ]PHOLRURZD KD 6NU]\V]ÍZ âdgqd 3RJÍUVND:ROD 6]\QZDãG âàndzlfd /S 1D]ZDSRWRNX 8UHJXORZDQ\.P 1LHXUHJXO NP :ÜWRF]HN :ÜWRN 1U
,ORçÞÃRGSDGÍZÃNR /SÃ 3U]HGVLàELRUVWZRÃ Z\ZLH]LRQ\FKÃ. RG]\V QDÃVNãDGRZLVNDÃ VXURZFRZ\FK
,ORçÞRGSDGÍZNR /S 3U]HGVLàELRUVWZR Z\ZLH]LRQ\FK RG]\V QDVNãDGRZLVND VXURZFRZ\FK 73.7(6.26S]RR )8+d78æp 38.d(PSROp6S]RR,%6S]RR 2JÍãHP 5RG]DMRGSDGX,ORçÞRG]\VNDQ\FKRGSDGÍZZ0J U U U 3DSLHU 6]NãR 7ZRU]\ZDV]WXF]QH
)RUPDÃXë\WNRZDQLDÃ 3RZLHU]FKQLDÃXë\WNÍZÃUROQ\FKÃ. 3R]RVWDãHÃJUXQW\ÃLÃQLHXë\WNLÃ 5D
)RUPDXë\WNRZDQLD 3RZLHU]FKQLDXë\WNÍZUROQ\FK :W\PJUXQW\RUQH VDG\ ãünl SDVWZLVND /DV\LJUXQW\OHçQH 3R]RVWDãHJUXQW\LQLHXë\WNL 5D /S 0LHMFRZRçÞ /LF]ED PLHV]NDåFÍZ %DWRZLFH %LELFH %RVXWÍZ%ROHå %U]R]ÍZND ']LHNDQRZLFH
5RG]DMà RGELRUF\à *RVSRGDUVWZDà GRPRZHÃ. 3U]HP\VãÃ. 2çZLHWOHQLHÃ
0RF SU]\ãÜF]HQLRZ 5RG]DM RGELRUF\,ORçÞ RGELRUFÍZ >0:@ *RVSRGDUVWZD GRPRZH 3U]HP\Vã LXVãXJL 2çZLHWOHQLH XOLF 5D]HP *UXQW\RUQH NODVD W\VKD NODVD âünllsdv,,,,,,,,,d,,,,,,e,9,9d 9,9E 9, 9 9,] 9, 9,] 5D]HP
* P L Q D 2JÍãHP R WZ LF OQ U R R R Z W Z LF W F LH Z ãr Q ç OH W UV Í WZ H U ] S R Z ãr V \ H P H Z U ] S W LF Q Z R G X E 0RJLOQ\ ( O H P H Q W æuhgqldurf]qdwhpshudwxudsrzlhwu]dz R & &]DVWUZDQLD]LP\çUGRE
à 0LHMVFRZRçÞà /LF]EDÃPLHV]NDåFÍZÃ
6NDZLQD :VLH 8ë\WNLUROQH KD KD *UXQW\RUQH KD KD 6DG\ KD KD âünl KD KD 3DVWZLVND KD KD /DV\ KD KD *UXQW\]DGU]HZ KD KD 0LHMVFRZRçÞ /LF]EDPLHV]NDåFÍZ 6NDZLQD %RUHN6]ODFKHFNL )DFLPLHFK *RãXFKRZLFH *UDELH -DçNRZLFH
1D]ZD]DGDQLDZ]DNUHVLHUDFMRQDOQHM JRVSRGDUNLZRGQHM =%XGRZDNDQDOL]DFMLVDQLWDUQHM 6S\WNRZLFHr.àSNL,HWDS]SU]\ãÜF]DPL =%XGRZDRGFLQDNDVLHFLVDQLWDUQHM ZUD]]SU]\ãÜF]DPLGODEXG\QNX263Z %DFKRZLFDFK =:\NRQDQLHSURMHNWXLEXGRZD
']LDãJRVSRGDUNL 0LHMVFRZRçÞ.URçFLHQNR *U\ZDãG.URçQLFD +DãXV]RZD %XGRZQLFWZR +DQGHO +RWHOHLUHVWDXUDFMH 7UDQVSRUW,QQHXVãXJL (GXNDFMDNRUHSHW\FMH 2FKURQD]GURZLDSU\ZDWQH JDELQHW\ 3R]RVWDãDG]LDãDOQRçÞIOLVDF\
J R H U X G \ N P G U \
KD 8 \ WN LU R OQ H J U X Q W\ R U Q H Z W\ P 2 G ár J L 8 J R U \ 6 D G \ à N L 3 D V WZ LV N D 6LHÞZNP *0,1$ 2JÍãHP OXGQRçÞ 3RZLHU]FKQLD ZNP D Z D R ] J OF LÜ LH F ] R G G ] R UR : D MQ F \ D OL] D Q
SLHUZLDVWHN &G &X 1L 3E =Q LORçÞ>PJNJ@ QRUPDJOHE\ OHNNLH QRUPDJOHE\ FLàëNLH 7\SXë\WNRZQLN 7(6/$$+35 793ROVDW 7936$3U5HJ 7936$3U =$5$7($3Sç 7936$3U.$7+5(,1Sç 3ROVNLH5DGLR:ZD3U 3ROVNLH5DGLR:ZD3U 5DGLR.UDNÍZ
:\V]F]HJÍOQLHQLHÃ 2JÍOQDÃ
0DSD3RáR HQLHJPLQ\.U\QLFD=GUyMQDWOHSR]RVWDá\FKJPLQSRZLDWXQRZRV GHFNLHJR 0DSD1DMZD QLHMV]HHOHPHQW\ URGRZLVNDLLQIUDVWUXNWXU\QDWHUHQLHJPLQ\ 5D ]H P* P LQ D /S :\V]F]HJÍOQLHQLH /LF]EDPLHV]NDåFÍZ ZJVWDQXQDG]LHå
5RG]DMHJUXQWÍZ 3RZLHU]FKQLD HZLGHQF\MQD>KD@ 8G]LDãZRJÍOQHM SRZLHU]FKQL>È@ 3RZLHU]FKQLD JUXQWÍZ RJÍãHP 8ë\WNLUROQH 8ë\WNLOHçQH 7HUHQ\LQQH N P V]W /S 0LHMVFRZRçÞ 'ãxjrçþ F]\QQHMVLHFL ZRGRFLÜJRZHM 3RGãÜF]H
7UDQVSRUWÃ JRVSRGDUNDÃ PDJD]\QRZDÃ. 2EVãXJDÃ QLHUXFKRPRçFLÃ. 5ROQLFWZRÃ ãrzlhfwzrã LÃOHçQLFWZRÃ. 3U]HWZÍUVWZRÃ SU]HP\VãRZHÃ +RWHOHÃ LÃUHVWDXUDFMHÃ
/XGQRçÞ =JRQ\ 3U]\URVWQDWXUDOQ\ 6DOGRPLJUDFML 3RZLHU]FKQLD >NP @ >W\V@ >QDNP 8URG]HQLD ZW\P ZOLF]EDFK QD @ RJÍãHP VWDã\FK F]DVRZ\FK QLHPRZOÜW EH]Z]JOàGQ\FK PLHV]NDåFÍZ *PLQD RJÍãHP 5ROQLFWZR ãrzlhfwzr
5RN :\VRNRçÞ EXGëHWX Z\NRQDQLH>]ã@ 1DNãDG\QDRFKURQàçURGRZLVNDZ SRV]F]HJÍOQ\FKODWDFK /LF]ED PLHV]NDåFÍZ 1DNãDG\0N LQZHVW\F\MQH SR]RVWDãH ãüf]qlh /S 5RN,WG =DGDQLD 3URJUDPRFKURQ\çURGRZLVNDPLDVWDL
3RZLHU]FKQLDÃ 8URG]HQLDÃ RJÍãHPÃ QLHPRZOÜ EH. 5ROQLFWZRÃ ãrzlhfwzrã LÃOHçQLFWZRÃ. 3U]HWZÍUVWZRÃ SU]HP\VãRZHÃ EXGRZQLFWZRÃ
3RZLHU]FKQLD >NP @ /XGQRçÞ >W\V@ >QD NP @ =JRQ\ 8URG]HQLD ZW\P RJÍãHP QLHPRZOÜ W EH *PLQD RJÍãHP 5ROQLFWZR ãrzlhfwzr LOHçQLFWZR 3U]HWZÍUVWZR SU]HP\VãRZH 3U]HP\VãL EXGRZQLFWZR :RMQLF] 1U GURJL 1D]ZDGURJL
/S *PLQD 2GSDG\ RUJDQLF]QH SRFKRG]HQLD URçOLQQHJR 2GSDG\ RUJDQLF]QH SRFKRG]HQLD ]ZLHU]àFHJR 6NãDGPRUIRORJLF]Q\RGSDGÍZ]JRVSRGDUVWZGRPRZ\FKU,QQHRGSDG\ RUJDQLF]QH 3DSLHU LWHNWXUD 7ZRU]\ZD V]WXF]QH 0DWHULDã\
7UDVD 2GFLQHN æuhgqlrgrerzhqdwàëhqlhuxfkx*35 6DPRVRE>È@ 6DPFLàë>È@ $ 7U]HELQLDr%DOLFH %DOLFHr.U\VSLQÍZ.U\VSLQÍZr/LV]NL %DOLFHr.U\VSLQÍZ /S 1D]ZD %UDQëD $GUHV 3U]HGVLàELRUVWZR3URGXNF\MQR8VãXJRZR +DQGORZH3520(52/6$
/SÃ *PLQDÃ /LF]EDÃPLHV]NDåFÍZÃ 3RZ 1D]ZDÃ JPLQ\Ã. 2JÍãHPÃ OHçQLFWZRÃ SU]HWZÃ SU]HPÃ EXGRZ QLFWZRÃ KDQGH QDSUDZ
\ F N ] V LH 0 '\QPLN]PLQGHPRJUILF]Q\FKZ*PLQLH*2à&=$ 'QHGHPRJUILF]QH /W /LQLWUHQGX /S *PLQ /LF]EPLHV]NåFÍZ 3RZ *RãF] 1]Z JPLQ\ 2JÍãHP UROQLFWZRL OHçQLFWZR SU]HWZ SU]HP EXGRZ QLFWZR ZW\P KQGH QSUZ *RãF]
:VND QLNQDJURPDG]HQLD RGSDGyZ,OR ürgsdgyz,or ü PLHV]ND FyZ,OR üplhv]nd FyZ REM W\FKZ\ZR]HP RGSDGyZ >È@ P 0URN NJ0URN P URN 0JURN =DNáDG 1D]ZDRGSDGX.RG,OR ürgsdgyz GRSXV]F]RQD GRZ\WZRU]HQLD $SWHNDÄ3RG5y
'RVWàSQDED]DWXU\VW\F]QDQDWHUHQLHJPLQ\.U]HV]RZLFH 0LHMVFDQRFOHJRZH /LF]EDRVÍENRU]\VWDMÜF\FK ]QRFOHJÍZ /LF]EDPLHMVF QRFOHJRZ\FKQD PLHV]NDåFÍZ /LF]ED RVÍE PLHMVFH QRFOHJRZH =DVRE\VXURZFÍZPLQHUDOQ\FKQD /S.RSDOLQD
5]HND 6RãD :LVãD 2çZLàFLP 3XQNW SRPLDURZR NRQWUROQ\ R 6 UJ X D E Q V LF WD ] Q Q F H MH ] D V R OH Q LH ] D Z LH V LQ \ E 6 LR X J E H V WD Q Q H F MH V 6 S H X F E \ V WD ILF Q ] Q F H MH IL] F K H P.
2EVáXJDÃ QLHUXFKR 7UDQVSRUWÃ JRVSRGDUNDÃ PDJD]\QRZDÃ. 3U]HWZyUVWZRÃ SU]HP\VáRZHÃ. 5ROQLFWZRÃ árzlhfwzrã QDSUDZ\Ã LÃUHVWDXUDFMHÃ QDXNDÃ QLHUXFKRPR
2JyáHP 5ROQLFWZR árzlhfwzr LOH QLFWZR 3U]HWZyUVWZR SU]HP\VáRZH :W\P %XGRZQLFWZR +DQGHOL QDSUDZ\ +RWHOH LUHVWDXUDFMH 7UDQVSRUW JRVSRGDUND PDJD]\QRZD Lá F]QR ü 2EVáXJD QLHUXFKR PR FL LILUP QDXND 2JyáHP 3U]HWZyUVWZR
:VLHÃ /LF]EDÃOXGQR FLÃ /LF]EDÃGRPyZÃ 3RZLHU]FKQLDÃZVLÃ UHGQLDÃ SRZLHU]FKQLDÃQDÃ MHGQRÃVLHGOLVNRÃ
:VLH /LF]EDOXGQR FL /LF]EDGRPyZ 3RZLHU]FKQLDZVL >KD@ UHGQLD SRZLHU]FKQLDQD MHGQRVLHGOLVNR GRP %\VWUD 6LG]LQD 5$=(0 5RG]DMX \WNX 3RZLHU]FKQLD >KD@ 8G]LDáÈ 8G]LDáÈSRV]F]HJyOQ\FKNODVERQLWDF\MQ\FK,,,D,9D,9E
U] H N D S X Q N WS R P LD UR Z R r N R Q WUR OQ \ S S N N P E LH J X U] H N L V X E V WD Q F MH R UJ D Q LF ] Q H ] D V R OH Q LH ] D Z LH V LQ \ V X E V WD Q F MH E LR J H Q Q H V X E V WD Q F MH V S
6WUDWHJLDÃUR]ZRMXÃ 3RZLDWXÃ0\ OHQLFNLHJRÃ 352*5$0Ã 2&+521<Ã 52'2:,6.$Ã 32:,$78Ã 0<6/(1,&.,(*2Ã 3RZLDWRZHÃSODQ\Ã JRVSRGDUNLÃRGSDGDPLÃ
3ROLW\NDHNRORJLF]QD SD VWZD 3URJUDPRFKURQ\ URGRZLVNDZRMHZyG]WZD PDáRSROVNLHJR 6WUDWHJLDUR]ZRMX 3RZLDWX0\ OHQLFNLHJR 3RZLDWRZHSODQ\ VHNWRURZHQSSODQ JRVSRGDUNLRGSDGDPL 352*5$0 2&+521< 52'2:,6.$ 32:,$78 0
/S 6RáHFWZR 3RZLHU]FKQLD ZKD >È@ SRZLHU]FKQL JPLQ\ /XGQR ü * VWR ü ]DOXGQLHQLD RVNP F] üsyáqrfqd.dplrqnd0dád.urvqd 6HFKQD F] üfhqwudoqd /DVNRZD 6WU]HV]\FH 8MDQRZLFH F] üsráxgqlrzd -DZRU]QD PL FD.RE\áF]\QD
6WUXNWXUDXë\WNRZDQLDJUXQWÍZQDWHUHQLH*PLQ\*U\EÍZ 7DEHOD 5RG]DMHJUXQWÍZ 3RZLHU]FKQLD HZLGHQF\MQD>KD@ 8G]LDãZRJÍOQHMSRZLHU]FKQL >È@ 3RZLHU]FKQLDJUXQWÍZRJÍãHP 8ë\WNLUROQH 8ë\WNLOHçQH 7HUHQ\LQQH 'ãxjrçþvlhflzrgrflüjrzhm
/SÃ VRãHFWZRÃ OLF]EDÃPLHV]NDåFÍZÃ PLH
/S VRãHFWZR OLF]EDPLHV]NDåFÍZ VWUXNWXUD È OLF]ED PLH 1RZH%U]HVNR *UàERFLQ *UXV]ÍZ +HEGÍZ.XFKDU\ 0DMNRZLFH 0QLV]ÍZ 0QLV]ÍZ.RORQLD 3ãDZRZLFH 3U]\E\VãDZLFH 5XGQR'ROQH 6LHURVãDZLFH æplãrzlfh 6]SLWDU\ UD]HP
/SÃ PLHMVFRZRçÞÃ OLF]EDÃPLHV]NDåFÍZÃ VWUXNWXUDÃÈÃ OLF]EDÃJRVSRGDUVWZÃ GRPRZ\FKÃ
/S PLHMVFRZRçÞ OLF]EDPLHV]NDåFÍZ VWUXNWXUDÈ OLF]EDJRVSRGDUVWZ GRPRZ\FK VWUXNWXUDÈ %LHåNRZLFH ']LHZLQ 'UZLQLD *DZãÍZHN *UREOD,VSLQD 0LNOXV]RZLFH 1LHGDU\ 7UDZQLNL æzlqldu\ :ROD'UZLåVND :\ë\fh =LHORQD Z\V]F]HJÍOQLHQLH
6WUXNWXUDÃX \WNRZDQLDÃJUXQWyZ ZÃJPLQLHÃ3526=2:,&(
6WUXNWXUDX \WNRZDQLDJUXQWyZ ZJPLQLH3526=2:,&( È È È È X \WNLUROQH JUXQW\OH QHL ]DGU]HZ LRQH JUXQW\]DEXGRZ DQHL ]XUEDQL]RZ DQH JUXQW\SRGZ RGDPL QLHX \WNL 2EV]DU?/DWD U U U *PLQD3URV]RZLFH 0LDVWR3URV]RZLFH
RJÍãHPà PLDVWRà ZLHçà SRZLDWXà ZRMHZÍG]WZDÃ
ZW\P ÈZVNDOL ÈZVNDOL RJÍãHP PLDVWR ZLHç SRZLDWX ZRMHZÍG]WZD SRZLHU]FKQLDNP OLF]EDPLHV]NDåFÍZW\V W\V W\V [ [ OLF]EDPLHMVFRZRçFL *0,11$. $/:$5,$ = (%5=< '2:6.$ 2J ÍãHP 0àëF ]\éql. RELHW\ 1DNP SRZ LHU]FKQL.REL
1D]ZD]DGDQLD =DNUHV :DUWRçÞ 3/$1),1$162:$1,$ -HGQRVWND LQZHVW\F\MQHJR U]HF]RZ\ NRV]WRU\V 'DOV]H UHDOL]XMÜFD ]DGDQLD %XGëHW,QQH %XGëHW,QQH %XGëHW,QQH ODWD SURJUDP /S JPLQ\ *PLQ\ JPLQ\ 0RGHUQL]DFMDSODFÍZHN
3UDFHÃSURMHNWRZHÃQDÃSDUNLQJÃSU]\ÃXOÃ.VLàëQHMÃ2JLåV 3URMHNWÃPLHMVFRZHJRÃSODQXÃ]DJRVSRGDURZDQLDÃSU]H
/S :\V]F]HJÍOQLHQLH 3UDFHSURMHNWRZHQDPRVWHNSU]\XO1RZHMZ%REUN 3UDFHSURMHNWRZHQDSDUNLQJSU]\XO.VLàëQHM2JLåV Z%REUNX 3URMHNWPLHMVFRZHJRSODQX]DJRVSRGDURZDQLDSU]H WHUHQÍZSU]\XO6ãRZDFNLHJR Z&KHãPNXFPHQWDU] 3URMHNWPLHMVFRZHJRSODQX]DJRVSRGDURZDQLDSU]H
/S 0LHMVFRZRçÞ 1UG]LDãNL 3RZLHU]FKQLD &]FKÍZ &]FKÍZ &]FKÍZ &]FKÍZ &]FKÍZ &]FKÍZ 5D]HP&] 7ZRUNRZD 7ZRUNRZD 5D]HP7ZRU.ZRWDRJ /S 0LHMVFRZRçÞ 1UG]LDãNL &]FKÍZ 5$=(0 &]FKÍZr=DSRUD /S 0LHMVFRZRçÞ 1UG]LDãNL 3
:LHOLF]ND.5$.Ï: 0LHFKyZ 2ONXV] &KU]DQyZ 2VZLHFLP :DGRZLFH 6XFKD%HVNLG]ND 0\VOHQLFH %RFKQLD %U]HVNR /LPDQRZD 3URV]RZLFH 1RZ\7DUJ =DNRSDQH 1RZ\6DF] 7DUQyZ 'DEURZD 7DUQRZVND *RUOLFH =%,251,.,=$3252:(VLHüUHJLRQDOQD
/S 1D]ZD]DGDQLD 3URZDG]HQLHV\VWHPDW\F]QHMPRGHUQL]DFML VLHFLZRGRFLÜJRZHM]ZãDV]F]DRGFLQNÍZ RQDMZLàNV]HMDZDU\MQRçFLZW\PPDJLVWUDO ]DVLODMÜF\FKZ*PLQàZRGà %XGRZDNDQDOL]DFMLVDQLWDUQHMZREUàELH d6wduhjr0ldvwdpz]ohzqlxolf.udnrzvnlhm.rqrsqlfnlhml*ãrzdfnlhjrrud]zg]lhoqlf\
ż Ł ć Ł ż Ń ż Ę Ę Ę ć ż ż ć ż ż Ę ż Ę ź Ę Ę ż ż ż ć ć ż ć Ę ż Ł Ł ż Ń ż ż ż ź Ę ć Ń ż ć ż Ł ć ż ć ż Ę Ł ż ż ć Ą ż Ł ć ż Ł ź ż Ę ż ć ć ć ć ć ć ć Ę ć ć ż ć ć ć ć ż ż ż ć ć ż ż Ę Ń ż ż Ń ż ż Ę ć ż ż Ł Ę ź
Z\V]F]HJÍOQLHQLHÃ. 7HUHQ\ÃXë\WNRZDQHÃUROQLF]RÃ 7HUHQ\ÃOHçQHÃ QLHSURGXNF\MQ\PÃQDÃÃ. PàëF]\]QÃ *PLQDÃ SRZLHU]FKQLDÃ SURGXNF\MQ\PÃ
:LHOLFNL %LVNXSLFH /S :\V]F ]HJ ÍOQLHQ LH 3 RZLHU]FKQLDZKD È 3RZLDW *PLQD 2JÍãHP 0àëF]\éQL.RELHW\ 1DNP SRZLHU]FKQL.RELHW\QD PàëF]\]Q /XGQRçÞZZLHNX QLHSURGXNF\MQ\PQD RVÍEZZLHNX SURGXNF\MQ\P :LHOLFNL %LVNXSLFH
/S ']LDã 1D]ZDWUHçÞ *2632'$5.$.2081$/1$,2&+521$æ52'2:,6.$ ZW\P RWU]\PDQHVSDGNL]DSLV\LGDURZL]Q\ ZSRVWDFLSLHQLàëQHM GRWDFMHFHORZHRWU]\PDQH]EXGëHWXSDåVWZD QDUHDOL]DFMàLQZHVW\FMLL]DNLQZHVW\F\MQ ZãDVQ\FKJPLQ
2çZLDWDLZ\FKRZDQLH 6]NRã\SRGVWDZRZH Z\GDWNLELHëÜFH *LPQD]MD Z\GDWNLELHëÜFH 3RPRFVSRãHF]QD 3R]RVWDãDG]LDãDOQRçÞ Z\GDWNLELHëÜFH (GXNDF\MQDRSLHNDZ\FKRZDZF]D 3RPRFPDWHULDOQDGODXF]QLÍZ Z\GDWNLELHëÜFH *RVSRGDUNDNRPXQDOQDLRFKURQDçURGRZLV
6NáDGDM F\Ã )RUPXODU]Ã SU]H]QDF]RQ\Ã GODÃ RVyEÃ IL]\F]Q\FKÃ E G F\FKÃ ZáD FL SRVLDGDF]DPLÃ VDPRLVWQ\PLÃ QLHUXFKRPR FLÃ OXEÃ RELHNWyZÃ EXG
$0,(-6&(6.à$'$1,$'(./$5$&-, :ymw*plq\' %'$1(,'(17
*0,1$ 2JÍãHP OXGQRçÞ 3RZLHU] FKQLD ZNP :RGRFLÜ JRZD UR]G]LHOF]D.DQDOL]D F\MQD 6LHÞ ZNP ZVNDéQLN REFLÜëHQLD VLHFLZRGR FLÜJRZHM ZVNDéQLN REFLÜëHQLD VLHFLNDQDOL ]DF\MQHM 3RãÜF]HQLDSURZDG]ÜFHGR EXG\QNÍZPLHV]NDOQ\FK
*RVSRGDUNDÃOHçQDÃ. 'RFKRG\Ã]ÃQDMPXÃLÃG]LHUëDZ\ÃVNãDGQLNÍZÃ. PDMÜWNRZ\FKÃ6NDUEXÃ3DåVWZDÃOXEÃMHGQRVWHNÃ. *RVSRGDUNDÃJUXQWDPLÃ LÃQLHUXFKRPRçFLDPLÃ
/S ']LDã 5R]G] :\V]F]HJÍOQLHQLH 'RFKRG\Z]ã 52/1,&7:2,â2:,(&7:2 =ZDOF]DQLHFKRUÍE]DNDéQ\FK]ZLHU]ÜWRUD]EDGDQLD PRQLWRULQJRZHSR]RVWDãRçFLFKHPLF]Q\FK LELRORJLF]Q\FKZWNDQNDFK]ZLHU]ÜW LSURGXNWDFKSRFKRG]HQLD]ZLHU]àFHJR
']LDã 5R]G]LDã 1D]ZDWUHçÞ 5ROQLFWZRLãRZLHFWZR,QIUDVWUXNWXUDZRGRFLÜJRZDLVDQLWDF\MQDZVL ZW\P EZ\GDWNLPDMÜWNRZH ZW\P EXGRZDVLHFLZRGRFLDJRZHMZHZVLDFK,VSLQD:ROD'UZLåVND=LHORQD%LHåNR EXGRZDVLHFLZRGRFLDJRZHMZHZVLDFK
/S 6WDQLVWQLHMÜF\ 3URJQR]\ U U U 0LDVWR0DNÍZ3RGKDODåVNL :VLH*PLQ\ %LDãND *U]HFK\QLD -XV]F]\Q.RMV]ÍZND :LHSU]HF êduqíznd *PLQDRJÍãHP 6WDQLVWQLHMÜF\ZU 3URJQR]D:U *UXS\ZLHNX 6WUXNWXUDZLHNX =DVRE\SUDF\ 6WUXNWXUDZLHNX
Ã1XPHUÃ,GHQW\ILNDFMLÃ3RGDWNRZHMÃVNáDGDM FHJRÃLQIRUPDFM ÃÃ. Ã5RG]DMÃSRGPLRWXÃRSRGDWNRZDQLDÃÃ]D]QDF]\üÃZáD FLZ\ÃNZDGUDWÃ
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM BBBBBBBBBB 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKOR 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZ EXGRZODQ\FKSRVLDGDF]DPLVDPRLVWQ\PLQLHUXFKRPR
/S 3R]RVWDOLZVSÍãZãDçFLFLHOHLZVSÍãSRVLDGDF]H 1D]ZLVNRLLPLà $GUHV 3(6(/ 1,3 RUD]FKDUDNWHUZãDGDQLD %8'
/SÃ :\V]F]HJÍOQLHQLHÃ ']LDã
/S :\V]F]HJÍOQLHQLH ']LDã 5$=(0ZW\P - 0LHMVNL'RP.XOWXU\Z:LHOLF]FH SRG DWNL LRSã DW\OR NDOQ H E XG]LDã\Z SR GDWN DFK SD åvwz RZ \FK G R F K RG \ ] P L H QL D V XE Z HQ F M H H GRWD FMH ]EXG ëhwx SDå VWZD
1.4.2 Dzia³alno æ gospodarcza 1.4. Sytuacja demograficzna i spo³eczno-ekonomiczna Po- wiatu Tatrzañskiego1 Rysunek 4.
L F R Q G X O D E ] F L O È È È È È È È VHNWRUSXEOLF]Q\ È VHNWRUSU\ZDWQ\ RJyáHP VHNWRUSU\ZDWQ\ RVRE\IL]\F]QHSURZDG] FHG]LDáDOQR üjrvsrgduf] ODWD VWDQOXGQR FL UHGQLD]ODW % ] U & H K N V ] U L Q D Z R L
3RZLHU]FKQLDÃ 8URG]HQLDÃ RJÍãHPÃ QLHPRZOÜWÃ E. /LF]EDÃ OXGQRçFLÃ. 5ROQLFWZRÃ ãrzlhfwzrã LÃOHçQLFWZRÃ. 3U]HWZÍUVWZRÃ SU]HP\VãRZHÃ EXGRZQLFWZRÃ L
3RZLHU]FKQLD >NP@ /XGQRçÞ >W\V@ >QD NP 8URG]HQLD RJÍãHP =JRQ\ ZW\P QLHPRZOÜW E URN /LF]ED OXGQRçFL *PLQD RJÍãHP 5ROQLFWZR ãrzlhfwzr LOHçQLFWZR 3U]HWZÍUVWZR SU]HP\VãRZH 3U]HP\VãL EXGRZQLFWZR L &]FKÍZ 5RG]DMJUXQWÍZ
W Dziennik Urzêdowy ojewództw 0DSD 1DMZDëQLHMV]H HOHPHQW\ çurgrzlvnd L LQIUDVWUXNWXU\ Z JPLQLH &KHãPLHF a Ma³opolskiego Nr 73 3241 Poz.
Dziennik Urzêdowy Województwa Ma³opolskiego Nr 73 0DSD 1DMZDëQLHMV]H HOHPHQW\ çurgrzlvnd L LQIUDVWUXNWXU\ Z JPLQLH &KHãPLHF 3241 Poz. 506 :\V]F]HJÍOQLHQLH 2EV]DU KD È Xë\WNLUROQH ZW\PJUXQW\RUQH VDG\ ãünllsdvwzlvnd
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\PWM']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD FLFLHODPLJUXQWyZSRVLDGDF]DPLVDPRLVWQ\PLJUXQWyZX
5 ê1(ã52=/,&=(1,$ã. 2æ:,$7$Ã,Ã:<&+2:$1,(Ã. 3202&Ã632â(&=1$Ã. 2* â(0ã=0,$1<ã
'] '2&+2'
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 1DURN 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FK7HNVWMHGQ']8]U1USR] ]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD
ÃÃÃ:\V]F]HJÍOQLHQLH ÃÃÃÃÃÃÃÃÃ2VWDWQLÃURN ÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃ5RN ÃÃÃÃÃÃÃÃÃÃREURWRZ\ ÃÃÃÃÃÃREUDFKXQNRZ URN ÃÃÃÃÃÃÃSRSU]HG]DMÜF ÃÃÃÃÃÃÃZSURZDG]HQ ÃÃÃÃÃÃÃQRZ\FKÃWDU\I U 7DU\IRZD 5RG]DMÃ ÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃ:LHONR
1D]ZDÃ. /HçQLFWZRÃ. ']LDãDOQRçÞÃXVãXJRZDÃ FPHQWDU]ÃNRPXQDOQ\ÃÃ $GPLQLVWUDFMDÃSXEOLF]QDÃ
/S 1D]ZD /HçQLFWZR ZW\P 'RFKRG\]QDMPXLG]LHUëDZ\VNãDGQLNÍZPDMÜWNRZ\FK 6NDUEX3DåVWZDMHGQRVWHNVDPRU]ÜGXWHU\WRULDOQHJR OXELQQ\FKMHGQRVWHN]DOLF]DQ\FKGRVHNWRUDILQDQVÍZ SXEOLF]Q\FKRUD]LQQ\FKXPÍZRSRGREQ\P FKDUDNWHU]H
Ż Ę Ą Ą Ż ć Ź Ż ń ń Ó Ó Ą Ę ń ń Ż ń Ę ń ż Ę ć Ę Ż ń ć ż ć ń ż Ż ż ć Ż ć ż ń ć Ź ć ć ć ń Ć Ą ż ć ź ż ż ć ć ż Ż Ż ż ń ć ć Ż ć Ó ń ć Ś Ż ć ć ć ń ć ż ń ć ć ć ć ć ż ć Ś ć ć ć ć Ż Ó ńą ć Ż Ż ż ż ć ż Ż ć ż ń
'RFKRG\Ã]ÃQDMPXÃLÃG]LHUëDZ\ÃVNãDGQLNÍZÃPD. SXEOLF]Q\FKÃRUD]ÃLQQ\FKÃXPÍZÃRÃSRGREQ\Pà :\WZDU]DQLHÃÃLÃ]DRSDWU\ZDQLHÃZÃHQHUJLàÃHOH
'] 5R]G] 1D]ZD /HçQLFWZR *RVSRGDUNDOHçQD 'RFKRG\]QDMPXLG]LHUëDZ\VNãDGQLNÍZPD 6NDUEX3DåVWZDMHGQRVWHNVDPRU]ÜGXWHU\WR OXELQQ\FKMHGQRVWHN]DOLF]DQ\FKGRVHNWRUD SXEOLF]Q\FKRUD]LQQ\FKXPÍZRSRGREQ\P :\WZDU]DQLHL]DRSDWU\ZDQLHZHQHUJLàHOH
6SDG (IHNWÃHNRORJ GRFHOR =DQLHF]\V]F]HQLHÃ SURJUDPÃOLNZLGDFMLÃ QDSUDZF]HJRÃ =DDZDQVRZDQ\Ã. G]LDãDQLDÃ 5RG]DMÃ SRZLHU]FKQLR RJU]HZDQLHÃ.
(IHNWHNRORJ èuígãrhplvml 5RG]DM G]LDãDQLD QDSUDZF]HJR =DQLHF]\V]F]HQLH 6SDG >W èuígãd SRZLHU]FKQLR ZH RJU]HZDQLH =DDZDQVRZDQ\ SURJUDPOLNZLGDFML QLVNLHMHPLVML Z=DNRSDQHP S\ã30 Z GRFHOR èuígãrhplvml 'URJLHPLVMD
ę Ł Ó ę ę ć ę ę ż ę ę Ź Ć ć ę ę ż ę ę Ł ć ż ż ć ć ź ć ę Ń ć ę ż ę ć ęż Ń ć ż ć ź ę ę ź ę ć ż ć Ź ż ę Ł Ż ż ć Ź ę Ń ż ć ę ę ż ę ę ć ę ż ż ż Ł ę żę ż ć ź ę Ó ć ć ż ć ę ę ę ę ę ć ę Źć ę ę ę ę ę ę ż ż ż ć
ÓŁ Ą Ś ż ę Ę ć ż ż ę ż ż ń ż ń ż ę ę ż ż ż ż ę ż ć ę żę ę ń ę ęć ż Ę ż ż ę ę ń Ą ęć ń ę ć ęć ęż ę ń ęć ń ęć ęż ę Ł ę ęć ę ęć Ł ę ę ę ęć ęć ę ę Ę ęż ę ń ęć Ę ć ęć ę ę ż ę ęż ę ń ż ę ń ż ć Ą Ą Ą żę ż ż ż
.RQLXV]D.RV] \FH 1RZHÃ%U]HVNR 3DáHF]QLFD 3URV]RZ LFH 5DG] LH PLFH
.RQLXV]D.RV] \FH 1RZH%U]HVNR 3DáHF]QLFD 3URV]RZ LFH 5DG] LH PLFH 3526=2:,&., 7$512:6., %5=(6., %2&+( 6., :,(/,&.,.5$.2:6., 0,(&+2:6.,.$=,0,(56., . R Q LX V ] D. R V ] \ F H 1 R Z H % U] H V N R 3 D áh
'] 5R]G] 7UHçÞ 7UDQVSRUWLãÜF]Q /RNDOQHSU]HZR]\SDV 'RWDFMHFHORZHRWU]\PDQH]JPLQ UHDOL]RZDQHQDSRGVWDZLHSRUR]XP MHGQRVWNDPLVDPRU]ÜGXWH 'URJLSXEOLF]QHSRZ 'RWDFMHFHORZHRWU]\PDQH]SRZLD UHDOL]RZDQHQDSRGVWDZLHSRUR]XP
/S /S] UR]VWU]\JQLàFLD ZÍMWDZVSUDZLH UR]SDWU]HQLD XZDJLSR QHJDW\ZQ\P X]JRGQLHQLX 231 7UHçÞXZDJL 3U]HNZDOLILNR ZDÞF]àçÞ G]LDãNLQD EXGRZODQÜ ZFHOX SRZLàNV]HQLD LVWQLHMÜFHJR VLHGOLVND UROQLF]HJR 2]QDF]HQLH
V ]D RV Z /XEÃ]DZLHV]HQLHPÃ ]Ã]DZLHV]HQLHPÃ SQHXPDW\F]Q\PÃ. 'RSXV]F]DOQDÃÃ PDVDÃFDãNRZLWDÃ. UÍZQRZDëQHÃ PQLHMÃ
'RSXV]F]DOQD PDVDFDãNRZLWD ZWRQDFK 2VLHMH]GQH ]]DZLHV]HQLHP SQHXPDW\F]Q\P /XE]DZLHV]HQLHP X]QDQ\P]D UÍZQRZDëQH Z]ãRW\FK ':,(26,( QLHPQLHM PQLHM QLHPQLHM PQLHM QLHPQLHM PQLHM QLHPQLHM LZLàFHM 75=
Ą ż ś ć ż ń ś ą Ę ś ą ż ś ą ą ż ą ś Ę Ń ś ą ń ć ż ą ź ś ź ż ń ń ść ńźóń ń Ć Ć Ż Ś ńó ż ć ą ś ą ś ś ńą Ą Ś ą ż ś ś ż ż Ą ż ą ś ć ż ń ś ń ś Ę ą ą Ę ż ą ś ż ś ą ą ż ą ś Ę Ń ś ą ą ń ć ż ą ź ś ź ż ń ń Ó ń Ż
QLHPQLHMQLëQLëWRQLPQLHMQLëWRQ RçMHG]QDRVLHMH]GQH]]DZLHV]SQHXPDW\F]Q\POXE]DZLHV]HQLHP LQQ\V\VWHP]DZLHV]HQLDRVLMH]GQ\FK QLHPQLHMQLëWRQLPQLHMQLëWRQ RçMHG]QDRVLHMH]GQH]]DZLHV]SQHXPDW\F]Q\POXE]DZLHV]HQLHP LQQ\V\VWHP]DZLHV]HQLDRVLMH]GQ\FK
QLHXë\WNLÃ UD]HPÃ 5RG]DMÃJUXQWXÃ. SDVWZLVNDÃWUZDãHÃ
QLHXë\WNL,QQH UD]HP 5RG]DMJUXQWX 3RZLHU]FKQLD>KD@ JUXQW\RUQH VDG\ ãünlwuzdãh SDVWZLVNDWUZDãH ODV\LJUXQW\OHçQH GURJL JUXQW\SRGZRGDPLSã\QÜF\PL .DWHJRULD ZÍG $ $ $ 3DUDPHWU - FKORURILOCD $]RWDQ\ P $]RW\Q\
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRGHNODUDFM 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\P7HNVWMHGQ']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyESUDZQ\FKMHGQRVWHNRUJDQL]DF\MQ\FKRUD]VSyáHNQLHPDM
&LÜJ :]URVWQDWàëHQLDUXFKXGURJRZHJRÈ NRPXQLNDF\MQ\ $r% $r& &r% 5ÍZQRZDëQ\ SR]LRP 3XQNW RGQLHVLHQLD.LHUXQHNOLQLL 5ÍZQRZDëQ\ SR]LRP NROHMRZHM KDãDVXZJRG] KDãDVXZJRG] RGOHJãRçÞRGéUÍGãD / HTR / HTR 5 ] >P@
/S 3UREOHPVSRãHF]Q\ /LF]ED URG]LQ.RQLXV]D /LF]EDRVÍE ZURG]LQDFK /LF]ED URG]LQ, 8EÍVWZR %H]URERFLH 1LHSHãQRVSUDZQRçÞ 'ãxjrwuzdãdfkrured EH]UDGQRçÞZVSUDZDFK RSLHNXåF]\FK ZW\PURG]LQ\ QLHSHãQH URG]LQ\ZLHORG]LHWQH.
/S 'DWD ZSã\ZX XZDJL 1D]ZLVNRLLPLàQD]ZD MHGQRVWNLRUJDQL]DF\MQHM LDGUHV]JãDV]DMÜFHJRXZDJL 7UHçÞXZDJL 2]QDF]HQLH 8VWDOHQLDSU QLHUXFKRPRçFL SODQXG NWÍUHMGRW\F]\ QLHUXFKRPRçF ZQLRVHN GRW\F]\XZ /S /RNDOL]DFMD
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM,1)250$&-$:635$:,(32'$7.82'1,(58&+202 &,52/1(*2,/( 1(*2 QD 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FKQLQLHMV]DXVWDZDGRNRQXMHZ]DNUHVLHVZRMHMUHJXODFMLZGUR
Strona 1. Kamień łupany Gatunek kamienia charakterystyka wyrobu DETAL. zdjęcie. Panel nr 1. 4 szer. dł. gr. 15cm 60cm 1,5 cm. paleta.
Panel nr 1 1 195 zł/ Panel nr 2 2 195 zł/ Panel nr 2 wąski 30 3 200 zł/ Panel nr 3 30 4 210 zł/ Strona 1 Panel nr 4 30 5 250,zł/ Panel nr 4 biel śnieżna 30 6 230 zł/ 7 Panel nr 5 250 zł/ Panel nr 5rs 30
y Z U R . U ] F]R U ]D N R W R U Q N D D QyZ % RJG *Ã3DZOLND Ã2VWU\V] *Ã6XUJRZD *Ã= EDORZD *Ã.RWR *Ã*RU\OND à\vdã*yud *Ã6\UNyZND *Ã0DJXUD *Ã3DUV]\ZND
P Q S P PQSP *.RWR PQSP **RU\OND PQSP 3 R WR N 5 *3DUV]\ZND PQSP 3 U R V ' ZRU VN L3RWRN = D J PQSP U R G ] N L 3 2VWU\V].RVNRZD*yUD PQSP X VQ ] N R : L FLH 6RáW\VLD*yUD PQSP *6\UNyZND & Z F D Ny y Z 3
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRGHNODUDFM &= û$'(./$5$&-$1$32'$7(.2'1,(58&+202 &,1$««««««««««5 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FKQLQLHMV]DXVWDZDGRNRQXMHZ]DNUHVLHVZRMHMUHJXODFMLZGUR
SRZLHU]Ã JUXQWÍZÃ. SDVWZL WUZDãHÃ WUZDOHÃ X \WNLÃUROQH. SR]RVWDáHÃJUXQW\
2JÍOQD SRZLHU] JUXQWÍZ 8ë\WNLUROQH UD]HP JUXQW\ VDG\ ãünl RUQH WUZDOH >KD@ È È È SDVWZL WUZDãH X \WNLUROQH ODV\LJUXQW\OH QH SR]RVWDáHJUXQW\ Dziennik Urzêdowy Województwa Ma³opolskiego Nr 236 Mapa 2. Najwa
ĺ ą Ł ĺĺ ĺ ĺĺĺ ĺ ĺ ę Żĺ ĺĺĺĺ ę ĺ ĺ ĺĺ ĺ ą ę ś Ść Ą ę ę ś ś ś ę ý ś ż ę ś ý ę ę ń ę ą Ż ę ę ý ś ń ą ĺ ż ż ś ć ż Ż ś ć ś ś ś ą ę ś ę ę Ś ęś ś ś ś ę ęć ż
Ą ą ą ż ą ę ń ĺ Ą ą ĺ ń ą ú ĺ ń ĺ Ż ĺ ĺ Ą ę ś ę ę ń ĺ ĺ ĺ ĺ ą ĺ ń ś đ ę ą ĺ ń ą Ż ę ĺ ż í ĺĺ ż ę ĺ ĺ ĺ Ź ę ĺ Ż Ż ĺ ĺ ą Ł ĺĺ ĺ ĺĺĺ ĺ ĺ ę Żĺ ĺĺĺĺ ę ĺ ĺ ĺĺ ĺ ą ę ś Ść Ą ę ę ś ś ś ę ý ś ż ę ś ý ę ę ń ę ą Ż
/S :\V]F]HJÍOQLHQLH 8ë\WNLUROQH 6DG\ZçUÍGXë\WNÍZUROQ\FK âünlwuzdãhzçuígxë\wníz UROQ\FK 3DVWZLVNDWUZDãHZçUÍGXë\WNÍZ UROQ\FK *UXQW\UROQHQDMZLàFHMZçUÍG Xë\WNÍZUROQ\FK /DV\LJUXQW\OHçQH *UXQW\]DGU]HZLRQHL]DNU]HZLRQH
%Ã'$1(Ã,'(17<),.$&<-1(Ã
$0,(-6&(6.à $'$1,$,1 )2 50$&-, &2.2/, &= 12 &, 32: 2 '8- &(.21,( &= 12 û=à2 (1,$,1)2 50$&-, 1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM,5±, 1)25 0$&-$: 6 35$:, (32 '$7.85 2/ 1(*2 QD 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\P7HNVWMHGQ']8]U1USR]]H]P
ą Ą Ą Ą ą Ą Ż ą Ż Ś Ó ą Ó Ó Ż Ł Ń Ą ą Ń Ż Ą Ł ą ą ą ą ą ą ą ą ą ą ą ą ą Ż Ż Ż ą Ą ą Ż Ż Ż Ś Ą Ą Ą ą ą ą ą Ź ą ą Ż Ń Ą Ń Ż Ź Ą Ó Ą ą ą ą ą Ę Ż Ć ą ą Ą ą ą ą ą ą ą ą ą Ę ŃŃ Ń Ę ą ą ą ą Ą ą ą ą ą ą ą Ó ą
1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXOH Q\P']81USR] 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD FLFLHODPLODVyZSRVLDGDF]DPLVDPRLVWQ\PLODVyZ
:\V]F]HJÍOQLHQLHÃ. ELHëÜFHÃUHDOL]RZDQHÃQDÃSRGVWDZLHÃUR]XPLHåà PLàG]\ÃMHGQRVWNDPLÃVDPRU]ÜGXÃWHU\WRULDOQHJRÃ
:\V]F]HJÍOQLHQLH 'RWDFMHFHORZHRWU]\PDQH]SRZLDWXQD]DGDQLD ELHëÜFHUHDOL]RZDQHQDSRGVWDZLHUR]XPLHå PLàG]\MHGQRVWNDPLVDPRU]ÜGXWHU\WRULDOQHJR 'RWDFMHRWU]\PDQH]IXQGXV]\FHORZ\FKQD UHDOL]DFMà]DGDåELHëÜF\FKMHGQRVWHNVHNWRUD
/S 75(æÝ 3U]HZLGZ\N U 3ODQ U È Z]URVWX 'RFKRG\RJÍãHP :\GDWNLRJÍãHP :\QLNGHILF\WQDGZ\ëND 3U]\FKRG\EXGëHWX :W\P ]DFLÜJDQHNUHG\W\EDQNRZH SU]\FKRG\]W\WLQQ\FKUR]OLF]HåNUDMRZ\FK 5R]FKRG\RJÍãHP :W\P VSãDWD]DFLÜJQLàW\FKNUHG\WÍZEDQNRZ\FK
SS df MS F p. SS df MS F p. 3. Dwukierunkowa analiza wariancji z interakcją, model mieszany (czynnik losowy: populacja) SS df MS F p
01b Między gr. 3.9052 3 1.301729 0.779861 0.506869 Wewn. gr. 260.3922 156 1.669181 Całkowita 264.2974 159 skażenie 0.2481 1 0.248062 0.148613 0.700389 populacja 1.9141 1 1.914062 1.146708 0.285893 1.7431