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53

ȆȓȞĮțĮȢʌİȡȚİȤȠȝȑȞȦȞ

ȈȣȖȤĮȡȘĲȒȡȚĮ

ȆȡȠĳȣȜȐȟİȚȢĮıĳĮȜİȓĮȢ

ȆİȡȚȖȡĮĳȒʌȡȠȧȩȞĲȠȢ

ȅșȩȞȘĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ȉȘȜİȤİȚȡȚıĲȒȡȚȠ

ȅįȘȖȩȢȖȡȒȖȠȡȘȢȑȞĮȡȟȘȢ

ȆİȡȚȖȡĮĳȒĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ǼȞįİȓȟİȚȢȠșȩȞȘȢĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȆȡȫĲȘȤȡȒıȘ

ȆȫȢȞĮȤȡȘıȚȝȠʌȠȚİȓĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȆȫȢȞĮȤȡȘıȚȝȠʌȠȚİȓĲİĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

ȁİȚĲȠȣȡȖȓĮȑțĲĮțĲȘȢĮȞȐȖțȘȢ

ǺȑȜĲȚıĲȘȜİȚĲȠȣȡȖȓĮ

ȀĮșĮȡȚıȝȩȢțĮȚıȣȞĲȒȡȘıȘ

ȈȣȝȕȠȣȜȑȢȜİȚĲȠȣȡȖȓĮȢ

ǹȞĲȚȝİĲȫʌȚıȘʌȡȠȕȜȘȝȐĲȦȞ77

ȁȓıĲĮʌȡȠȧȩȞĲȦȞ

 ǻȚĮĲȘȡİȓĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıİșȑıȘȩʌȠȣĲȠıȒȝĮĲȠȣ

ȞĮȝʌȠȡİȓȞĮĳĲȐıİȚĲȠįȑțĲȘĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ȀĮĲȐĲȘȜİȚĲȠȣȡȖȓĮĲȠȣțȜȚȝĮĲȚıĲȚțȠȪȕİȕĮȚȦșİȓĲİȩĲȚĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚıĲȡĮȝȝȑȞȠʌȡȠȢĲȠįȑțĲȘıȒȝĮĲȠȢ

ĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ǵĲĮȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıĲȑȜȞİȚȑȞĮıȒȝĮĲȠıȪȝȕȠȜȠ

ĮȞĮȕȠıȕȒȞİȚȖȚĮʌİȡȓʌȠȣįİȣĲİȡȩȜİʌĲȠıĲȘȞ

ȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǾİıȦĲİȡȚțȒȝȠȞȐįĮĮȞĮȖȞȦȡȓȗİȚĲȠıȒȝĮȝİȑȞĮ

ȘȤȘĲȚțȩıȒȝĮȝʌȚʌȩĲĮȞȜĮȝȕȐȞİȚĲȠıȒȝĮĮʌȩĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠ

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣțĮȚıĲİȓȜĲİ

ʌȐȜȚĲȠıȒȝĮĮȞįİȞĮțȠȪıİĲİȑȞĮȘȤȘĲȚțȩıȒȝĮĮʌȩ

ĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

ȈȘȝĮȞĲȚțȒȣʌİȞșȪȝȚıȘ

54

ȈȣȖȤĮȡȘĲȒȡȚĮ

 ȉȠțȜȚȝĮĲȚıĲȚțȩĮȣĲȩįİȞʌȡȠȠȡȓȗİĲĮȚȖȚĮȤȡȒıȘĮʌȩ

ȝȚțȡȐʌĮȚįȚȐȒȐĲȠȝĮȝİȝİȚȦȝȑȞİȢȚțĮȞȩĲȘĲİȢȤȦȡȓȢ

İʌȠʌĲİȓĮ

 ȉĮȝȚțȡȐʌĮȚįȚȐʌȡȑʌİȚȞĮİʌȠʌĲİȪȠȞĲĮȚȫıĲİȞĮ

İȟĮıĳĮȜȓȗİĲĮȚȩĲȚįİȞʌĮȓȗȠȣȞȝİĲȠțȜȚȝĮĲȚıĲȚțȩ

 ǼʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

İȖțĮĲȐıĲĮıȘȢȖȚĮĲȘȞİȖțĮĲȐıĲĮıȘĮȣĲȠȪĲȠȣ

țȜȚȝĮĲȚıĲȚțȠȪ

 ǼʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

ıȣȞĲȒȡȘıȘȢȖȚĮĲȘȞİʌȚıțİȣȒȒıȣȞĲȒȡȘıȘĮȣĲȒȢ

ĲȘȢȝȠȞȐįĮȢ

 ǼȐȞĲȠțĮȜȫįȚȠĲȡȠĳȠįȠıȓĮȢʌȡȑʌİȚȞĮ

ĮȞĲȚțĮĲĮıĲĮșİȓʌȡȑʌİȚȞĮĮȞĲȚțĮĲĮıĲĮșİȓȝȩȞȠĮʌȩ

İȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

 ȅȚİȡȖĮıȓİȢİȖțĮĲȐıĲĮıȘȢʌȡȑʌİȚȞĮİțĲİȜȠȪȞĲĮȚ

ıȪȝĳȦȞĮȝİĲĮİșȞȚțȐʌȡȩĲȣʌĮțĮȜȦįȓȦıȘȢȝȩȞȠ

ĮʌȩİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

ȈȣȖȤĮȡȘĲȒȡȚĮțĮȚİȣȤĮȡȚıĲȠȪȝİʌȠȣİʌȚȜȑȟĮĲİȑȞĮ

țȜȚȝĮĲȚıĲȚțȩįȚĮȚȡȠȪȝİȞȠȣĲȪʌȠȣǼȓȝĮıĲİıȓȖȠȣȡȠȚȩĲȚȘ

ȤȡȒıȘĲȠȣȞȑȠȣțȜȚȝĮĲȚıĲȚțȠȪıĮȢșĮıĮȢİȓȞĮȚĮʌȩȜȣĲĮ

İȣȤȐȡȚıĲȘ

ȆȡȚȞȤȡȘıȚȝȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩıȣȞȚıĲȠȪȝİȞĮ

įȚĮȕȐıİĲİȠȜȩțȜȘȡȠĲȠİȖȤİȚȡȓįȚȠȤȡȒıĲȘĲȠȠʌȠȓȠ

ʌĮȡȑȤİȚȝȚĮʌİȡȚȖȡĮĳȒĲȠȣțȜȚȝĮĲȚıĲȚțȠȪțĮȚĲȦȞ

ȜİȚĲȠȣȡȖȚȫȞĲȠȣ

īȚĮĲȘȞĮʌȠĳȣȖȒĲȦȞțȚȞįȪȞȦȞʌȠȣȣʌȐȡȤȠȣȞʌȐȞĲĮ

țĮĲȐĲȘȤȡȒıȘȝȚĮȢȘȜİțĲȡȚțȒȢıȣıțİȣȒȢİȓȞĮȚıȘȝĮȞĲȚțȩ

ĲȠțȜȚȝĮĲȚıĲȚțȩıĮȢȞĮİȖțĮĲĮıĲĮșİȓıȦıĲȐțĮȚȞĮ

įȚĮȕȐıİĲİĲȚȢȠįȘȖȓİȢĮıĳȐȜİȚĮȢʌȡȠıİțĲȚțȐȫıĲİȞĮ

ĮʌȠĳȪȖİĲİĲȘȜĮȞșĮıȝȑȞȘȤȡȒıȘțĮȚĲȠȣȢțȚȞįȪȞȠȣȢ

ȈȣȞȚıĲȠȪȝİȞĮįȚĮĲȘȡİȓĲİĮȣĲȩĲȠİȖȤİȚȡȓįȚȠȠįȘȖȚȫȞ

ȖȚĮȝİȜȜȠȞĲȚțȒĮȞĮĳȠȡȐțĮȚȞĮĲȠʌĮȡĮįȓįİĲİıİĲȣȤȩȞ

ȝİȜȜȠȞĲȚțȩȚįȚȠțĲȒĲȘ

ȂİĲȐĲȘȞĮʌȠıȣıțİȣĮıȓĮȕİȕĮȚȦșİȓĲİȩĲȚĲȠțȜȚȝĮĲȚıĲȚțȩ

įİȞȑȤİȚȣʌȠıĲİȓȗȘȝȚȑȢǼȐȞȑȤİĲİĮȝĳȚȕȠȜȓİȢȝȘ

ȤȡȘıȚȝȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩțĮȚİʌȚțȠȚȞȦȞȒıĲİȝİĲȠ

İȟȠȣıȚȠįȠĲȘȝȑȞȠțȑȞĲȡȠıȑȡȕȚȢĲȘȢʌİȡȚȠȤȒȢıĮȢ

ȈȣȞșȒțİȢȤȡȒıȘȢ

ǹȣĲȒȘıȣıțİȣȒʌȡȠȠȡȓȗİĲĮȚȖȚĮȠȚțȚĮțȒȤȡȒıȘ

țĮȚʌĮȡȩȝȠȚİȢİĳĮȡȝȠȖȑȢȩʌȦȢ

 ȈİȤȫȡȠȣȢțȠȣȗȓȞĮȢʌȡȠıȦʌȚțȠȪıİ

țĮĲĮıĲȒȝĮĲĮȖȡĮĳİȓĮțĮȚȐȜȜĮİȡȖĮıȚĮțȐ

ʌİȡȚȕȐȜȜȠȞĲĮ

 ǹȖȡȠȚțȓİȢ

 ǹʌȩʌİȜȐĲİȢıİȟİȞȠįȠȤİȓĮȝȠĲȑȜțĮȚȐȜȜĮ

ʌİȡȚȕȐȜȜȠȞĲĮıĲȑȖĮıȘȢ

 ȆĮȞıȚȩȞȖȚĮȪʌȞȠțĮȚʌȡȦȚȞȩ

ȈȘȝĮȞĲȚțȑȢıȘȝİȚȫıİȚȢ

ǼʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

İȖțĮĲȐıĲĮıȘȢȖȚĮĲȘȞİȖțĮĲȐıĲĮıȘĮȣĲȒȢĲȘȢ

ȝȠȞȐįĮȢ

ǼʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

ıȣȞĲȒȡȘıȘȢȖȚĮĲȘȞİʌȚıțİȣȒȒıȣȞĲȒȡȘıȘĮȣĲȒȢ

ĲȘȢȝȠȞȐįĮȢ

 ǾʌȡȓȗĮʌȠȣĮʌĮȚĲİȓĲĮȚȖȚĮĲȘȞĲȡȠĳȠįȠıȓĮ

ʌȡȑʌİȚȞĮıȣȞįİșİȓțĮȚĲİșİȓıİȜİȚĲȠȣȡȖȓĮ

ĮʌȩİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

 ǾıȣıțİȣȒĮȣĲȒįİȞʌȡȠȠȡȓȗİĲĮȚȖȚĮ

ȤȡȒıȘĮʌȩȐĲȠȝĮıȣȝʌİȡȚȜĮȝȕĮȞȠȝȑȞȦȞ

ĲȦȞʌĮȚįȚȫȞȝİȝİȚȦȝȑȞİȢıȦȝĮĲȚțȑȢ

ĮȚıșȘĲȘȡȚĮțȑȢȒʌȞİȣȝĮĲȚțȑȢȚțĮȞȩĲȘĲİȢȒ

ȑȜȜİȚȥȘİȝʌİȚȡȓĮȢțĮȚȖȞȫıȘȢİțĲȩȢțĮȚĮȞ

İʌȚȕȜȑʌȠȞĲĮȚȒȑȤȠȣȞȜȐȕİȚȠįȘȖȓİȢıȤİĲȚțȐ

ȝİĲȘȤȡȒıȘĲȘȢıȣıțİȣȒȢĮʌȩȐĲȠȝȠ

ȣʌİȪșȣȞȠȖȚĮĲȘȞĮıĳȐȜİȚȐĲȠȣȢ

 ȉĮȝȚțȡȐʌĮȚįȚȐʌȡȑʌİȚȞĮİʌȠʌĲİȪȠȞĲĮȚ

ȫıĲİȞĮİȟĮıĳĮȜȓȗİĲĮȚȩĲȚįİȞʌĮȓȗȠȣȞȝİĲȠ

țȜȚȝĮĲȚıĲȚțȩ

 ǼȐȞĲȠțĮȜȫįȚȠĲȡȠĳȠįȠıȓĮȢʌȡȑʌİȚȞĮ

ĮȞĲȚțĮĲĮıĲĮșİȓʌȡȑʌİȚȞĮĮȞĲȚțĮĲĮıĲĮșİȓ

ȝȩȞȠĮʌȩİȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

 ȅȚİȡȖĮıȓİȢİȖțĮĲȐıĲĮıȘȢʌȡȑʌİȚȞĮ

İțĲİȜȠȪȞĲĮȚıȪȝĳȦȞĮȝİĲĮİșȞȚțȐ

ʌȡȩĲȣʌĮțĮȜȦįȓȦıȘȢțĮȚĲȠȣȢțĮȞȩȞİȢĲȘȢ

ȣʌȘȡİıȓĮȢʌĮȡȠȤȒȢȘȜİțĲȡȚıȝȠȪȝȩȞȠĮʌȩ

İȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

 ǼȐȞʌȡȩțİȚĲĮȚȞĮȝİĲĮĳȑȡİĲİıİȐȜȜȘșȑıȘ

ȒȞĮĮʌȠȡȡȓȥİĲİĲȘȝȠȞȐįĮȝȩȞȠȑȞĮȢ

İʌĮȖȖİȜȝĮĲȓĮȢĲİȤȞȚțȩȢȝʌȠȡİȓȞĮĮȞĮȜȐȕİȚ

ĮȣĲȒĲȘȞİȡȖĮıȓĮ

 ȆȡȠıȑȟĲİȞĮȝȘȞʌȚĮıĲȠȪȞĲĮįȐțĲȣȜȐ

ıĮȢıĲĮʌĲİȡȪȖȚĮĲȠȣĮȞİȝȚıĲȒȡĮțĮĲȐĲȘȞ

ʌȡȠıĮȡȝȠȖȒĲȦȞțȐșİĲȦȞʌİȡıȓįȦȞ

 ȉȠʌĮȡȩȞțȜȚȝĮĲȚıĲȚțȩȤȡȘıȚȝȠʌȠȚİȓ

ȥȣțĲȚțȩ5$İʌĮȜȘșİȪıĲİʌȡȚȞĮʌȩĲȘȞ

İȖțĮĲȐıĲĮıȘ

ȆȜȘȡȠĳȠȡȓİȢĮʌȩȡȡȚȥȘȢȖȚĮĲȠȣȢȤȡȒıĲİȢ

 ȉĮʌİȡȚııȩĲİȡĮĮʌȩĲĮȣȜȚțȐıȣıțİȣĮıȓĮȢ

İȓȞĮȚĮȞĮțȣțȜȫıȚȝĮȆĮȡĮțĮȜȠȪȝİĮʌȠȡȡȓȥĲİ

ĲĮȣȜȚțȐĮȣĲȐȝȑıȦĲȠȣĲȠʌȚțȠȪțȑȞĲȡȠȣ

ĮȞĮțȪțȜȦıȘȢȒĲȠʌȠșİĲȒıĲİĲĮıĲȠȣȢ

țĮĲȐȜȜȘȜȠȣȢțȐįȠȣȢıȣȜȜȠȖȒȢ

 ǼȐȞİʌȚșȣȝİȓĲİȞĮĮʌȠȡȡȓȥİĲİĮȣĲȩĲȠ

țȜȚȝĮĲȚıĲȚțȩİʌȚțȠȚȞȦȞȒıĲİȝİĲȚȢĲȠʌȚțȑȢĮȡȤȑȢ

țĮȚȡȦĲȒıĲİȖȚĮĲȘıȦıĲȒȝȑșȠįȠĮʌȩȡȡȚȥȘȢ

ʌȡȠıȠȤȒ

ʌİȡȚȕĮȜȜȠȞĲȚțȒıȣȝȕȠȣȜȒ

55

ǼȐȞʌȡȠıȑȟİĲİțȐʌȠȚĮȝȘĳȣıȚȠȜȠȖȚțȒ

țĮĲȐıĲĮıȘȩʌȦȢȝȣȡȦįȚȐțĮȝȑȞȠȣ

ĮʌİȞİȡȖȠʌȠȚȒıĲİĲȘȞȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮ

ĲȠȣțȜȚȝĮĲȚıĲȚțȠȪțĮȚİʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞ

İȟȠȣıȚȠįȠĲȘȝȑȞȠĮȞĲȚʌȡȩıȦʌȠıȑȡȕȚȢǼȐȞ

ıȣȞİȤȚıĲİȓĮȣĲȒȘȝȘĳȣıȚȠȜȠȖȚțȒțĮĲȐıĲĮıȘ

ĲȠțȜȚȝĮĲȚıĲȚțȩȝʌȠȡİȓȞĮȣʌȠıĲİȓȕȜȐȕȘȒ

ĮțȩȝĮțĮȚȞĮʌȡȠțȜȘșİȓȘȜİțĲȡȠʌȜȘȟȓĮȒ

ʌȣȡțĮȖȚȐ

ȂȘȤİȚȡȓȗİıĲİĲȠțȜȚȝĮĲȚıĲȚțȩȝİȕȡİȖȝȑȞĮ

ȤȑȡȚĮȂʌȠȡİȓȞĮʌȡȠțȜȘșİȓȘȜİțĲȡȠʌȜȘȟȓĮ

ȂȘȞțȩȕİĲİȒĳșİȓȡİĲİĲȠțĮȜȫįȚȠ

ĲȡȠĳȠįȠıȓĮȢȒȐȜȜĮțĮȜȫįȚĮǼȐȞıȣȝȕİȓ

ĮȣĲȩȗȘĲȒıĲİȞĮʌȡĮȖȝĮĲȠʌȠȚȘșİȓ

ȘĮȞĲȚțĮĲȐıĲĮıȘȒȘİʌȚıțİȣȒĮʌȩ

İȟȠȣıȚȠįȠĲȘȝȑȞȠĲİȤȞȚțȩ

ȂȘıȣȞįȑİĲİĲȠțȜȚȝĮĲȚıĲȚțȩıİʌȠȜȪʌȡȚȗȠ

ǹʌİȞİȡȖȠʌȠȚȒıĲİĲȘȞȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮ

ĲȠȣțȜȚȝĮĲȚıĲȚțȠȪİȐȞįİȞʌȡȩțİȚĲĮȚȞĮ

ȤȡȘıȚȝȠʌȠȚȘșİȓȖȚĮʌĮȡĮĲİĲĮȝȑȞȠįȚȐıĲȘȝĮ

ǻȚĮĳȠȡİĲȚțȐȝʌȠȡİȓȞĮıȣııȦȡİȣĲİȓıțȩȞȘ

țĮȚȞĮʌȡȠțȜȘșİȓʌȣȡțĮȖȚȐ

ȆȡȚȞĮʌȩĲȠȞțĮșĮȡȚıȝȩĲȠȣțȜȚȝĮĲȚıĲȚțȠȪ

ĮʌȠıȣȞįȑıĲİĲȘȞȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮȖȚĮ

ȞĮĮʌȠĳİȣȤșİȓȘʌȚșĮȞȩĲȘĲĮȘȜİțĲȡȠʌȜȘȟȓĮȢ

ǾȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮʌȡȑʌİȚȞĮĮȞĲȚıĲȠȚȤİȓ

ıĲȚȢʌȡȠįȚĮȖȡĮĳȑȢĲȠȣțȜȚȝĮĲȚıĲȚțȠȪ

ıȪȝĳȦȞĮȝİĲȠİȖȤİȚȡȓįȚȠİȖțĮĲȐıĲĮıȘȢ

ȉĮțȜȚȝĮĲȚıĲȚțȐʌȠȣʌĮȡȑȤȠȞĲĮȚȝİțĮȜȫįȚȠ

ĲȡȠĳȠįȠıȓĮȢʌȡȑʌİȚȞĮıȣȞįȑȠȞĲĮȚĮʌİȣșİȓĮȢ

ıİʌȡȓȗĮȝİțĮĲȐȜȜȘȜȠįȚĮțȩʌĲȘĮıĳĮȜİȓĮȢ

ȉĮțȜȚȝĮĲȚıĲȚțȐʌȠȣıȣȞįȑȠȞĲĮȚĮʌİȣșİȓĮȢ

ȝİĲȠțȪțȜȦȝĮʌȡȑʌİȚȞĮıȣȞįȑȠȞĲĮȚȝİȑȞĮȞ

țĮĲȐȜȜȘȜȠĮıĳĮȜİȚȠįȚĮțȩʌĲȘıȪȝĳȦȞĮȝİĲȠ

İȖȤİȚȡȓįȚȠİȖțĮĲȐıĲĮıȘȢ

ǺİȕĮȚȦșİȓĲİȩĲȚȘȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮĲȠȣ

țȜȚȝĮĲȚıĲȚțȠȪİȓȞĮȚıĲĮșİȡȒțĮȚʌȜȘȡȠȓĲȚȢ

ĮʌĮȚĲȒıİȚȢʌȠȣʌĮȡĮĲȓșİȞĲĮȚıĲȠİȖȤİȚȡȓįȚȠ

İȖțĮĲȐıĲĮıȘȢ

ȆȐȞĲĮȞĮȕİȕĮȚȫȞİıĲİȩĲȚĲȠʌȡȠȧȩȞȑȤİȚ

İȖțĮĲĮıĲĮșİȓ

ȝİțĮĲȐȜȜȘȜȘȖİȓȦıȘ

īȚĮȜȩȖȠȣȢĮıĳĮȜİȓĮȢĳȡȠȞĲȓıĲİȞĮ

țȜİȓıİĲİĲȠȞĮıĳĮȜİȚȠįȚĮțȩʌĲȘʌȡȚȞ

ʌȡĮȖȝĮĲȠʌȠȚȒıİĲİȠʌȠȚĮįȒʌȠĲİİȡȖĮıȓĮ

ıȣȞĲȒȡȘıȘȢȒțĮșĮȡȚıȝȠȪȒȩĲĮȞĲȠ

ʌȡȠȧȩȞįİȞʌȡȩțİȚĲĮȚȞĮȤȡȘıȚȝȠʌȠȚȘșİȓȖȚĮ

ʌĮȡĮĲİĲĮȝȑȞȠįȚȐıĲȘȝĮǾıȣııȦȡİȣȝȑȞȘ

ıțȩȞȘȝʌȠȡİȓȞĮʌȡȠțĮȜȑıİȚʌȣȡțĮȖȚȐȒ

ȘȜİțĲȡȠʌȜȘȟȓĮ

ȆȡȠĳȣȜȐȟİȚȢĮıĳĮȜİȓĮȢ

ȈĲȠİȖȤİȚȡȓįȚȠĮȣĲȩșĮȕȡİȓĲİʌȠȜȜȑȢȤȡȒıȚȝİȢ

ıȣȝȕȠȣȜȑȢȖȚĮĲȠıȦıĲȩĲȡȩʌȠȤȡȒıȘȢțĮȚ

ıȣȞĲȒȡȘıȘȢĲȠȣțȜȚȝĮĲȚıĲȚțȠȪıĮȢȂİȜȓȖȘ

ʌȡȠȜȘʌĲȚțȒĳȡȠȞĲȓįĮİțȝȑȡȠȣȢıĮȢȝʌȠȡİȓĲİȞĮ

İȟȠȚțȠȞȠȝȒıİĲİȤȡȩȞȠțĮȚȤȡȒȝĮțĮĲȐĲȘįȚȐȡțİȚĮ

ȗȦȒȢĲȠȣțȜȚȝĮĲȚıĲȚțȠȪıĮȢĬĮȕȡİȓĲİʌȠȜȜȑȢ

ĮʌĮȞĲȒıİȚȢıİțȠȚȞȐʌȡȠȕȜȒȝĮĲĮıĲȠȞʌȓȞĮțĮ

ıȣȝȕȠȣȜȫȞĮȞĲȚȝİĲȫʌȚıȘȢʌȡȠȕȜȘȝȐĲȦȞıĲȘ

ıİȜȓįĮǼȐȞįȚĮȕȐıİĲİʌȡȫĲĮĲȠȞʌȓȞĮțĮ

ıȣȝȕȠȣȜȫȞĮȞĲȚȝİĲȫʌȚıȘȢʌȡȠȕȜȘȝȐĲȦȞİȞįȑȤİĲĮȚ

ȞĮȝȘȤȡİȚȐȗİĲĮȚȞĮțĮȜȑıİĲİȖȚĮıȑȡȕȚȢ

ȅȚıȘȝĮıȓİȢĲȦȞıȣȝȕȩȜȦȞʌȠȣȤȡȘıȚȝȠʌȠȚȠȪȞĲĮȚ

ıİĮȣĲȩĲȠİȖȤİȚȡȓįȚȠĳĮȓȞȠȞĲĮȚʌĮȡĮțȐĲȦ

ȊʌȠįİȚțȞȪİȚʌȜȘȡȠĳȠȡȓİȢıȤİĲȚțȐȝİĲȘȞ

ʌȡȠıȦʌȚțȒıĮȢĮıĳȐȜİȚĮțĮȚȖȚĮĲȠȞĲȡȩʌȠ

ĮʌȠĳȣȖȒȢʌȡȩțȜȘıȘȢȗȘȝȚȐȢıĲȘıȣıțİȣȒ

ȉȠıȪȝȕȠȜȠĮȣĲȩȣʌȠįİȚțȞȪİȚıȣȝȕȠȣȜȑȢțĮȚ

ʌȜȘȡȠĳȠȡȓİȢȖȚĮĲȘȤȡȒıȘĲȘȢıȣıțİȣȒȢ

ȉȠıȪȝȕȠȜȠĮȣĲȩȣʌȠįİȚțȞȪİȚıȣȝȕȠȣȜȑȢțĮȚ

ʌȜȘȡȠĳȠȡȓİȢȖȚĮĲȘȞȠȚțȠȞȠȝȚțȒțĮȚȠȚțȠȜȠȖȚțȒ

ȤȡȒıȘĲȘȢıȣıțİȣȒȢ

ȉȠıȪȝȕȠȜȠĮȣĲȩȣʌȠįİȚțȞȪİȚȩĲȚįİȞʌȡȑʌİȚȞĮ

țȐȞİĲİʌȠĲȑĲȘȞİȞȑȡȖİȚĮĮȣĲȒ

ȃĮțȐȞİĲİʌȐȞĲĮĲȘȞİȞȑȡȖİȚĮĮȣĲȒ

ȈȘȝĮȞĲȚțȑȢıȘȝİȚȫıİȚȢ

 ȂȘșȑıİĲİĲȘȝȠȞȐįĮıİȜİȚĲȠȣȡȖȓĮȝİĲȘȞ

ȠȡȚȗȩȞĲȚĮʌİȡıȓįĮıĲȘȞțȜİȚıĲȒșȑıȘ

 ȂȘșȑıİĲİĲȘȝȠȞȐįĮıİȜİȚĲȠȣȡȖȓĮȤȦȡȓȢĲȠ

ĳȓȜĲȡȠĮȑȡĮ

ʌȡȠıȠȤȒ

ʌȡȠİȚįȠʌȠȓȘıȘ

ʌİȡȚȕĮȜȜȠȞĲȚțȒıȣȝȕȠȣȜȒ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

56

ȆȡȠĳȣȜȐȟİȚȢĮıĳĮȜİȓĮȢ

ȋȡȒıȘ

ǾȑțșİıȘıĲȘȞȐȝİıȘȡȠȒĮȑȡĮĮʌȩĲȠ

țȜȚȝĮĲȚıĲȚțȩȖȚĮʌĮȡĮĲİĲĮȝȑȞȠįȚȐıĲȘȝĮȝʌȠȡİȓ

ȞĮİȓȞĮȚİʌȚțȓȞįȣȞȠȖȚĮĲȘȞȣȖİȓĮıĮȢ

ȂȘȞİțșȑĲİĲİȐĲȠȝĮțĮĲȠȚțȓįȚĮȒĳȣĲȐıĲȘȞ

ȐȝİıȘȡȠȒĮȑȡĮȖȚĮʌĮȡĮĲİĲĮȝȑȞȠįȚȐıĲȘȝĮ

ȀĮșĮȡȚıȝȩȢțĮȚıȣȞĲȒȡȘıȘ

 ȀĮĲȐĲȠȞțĮșĮȡȚıȝȩĲȘȢȝȠȞȐįĮȢ

ȕİȕĮȚȦșİȓĲİʌȡȫĲĮȩĲȚȘȘȜİțĲȡȚțȒ

ĲȡȠĳȠįȠıȓĮțĮȚȠĮıĳĮȜİȚȠįȚĮțȩʌĲȘȢİȓȞĮȚ

țȜİȚıĲȐ

 ȂȘȞĮȖȖȓȗİĲİĲĮȝİĲĮȜȜȚțȐȝȑȡȘĲȘȢȝȠȞȐįĮȢ

țĮĲȐĲȘȞĮĳĮȓȡİıȘĲȦȞĳȓȜĲȡȦȞȂʌȠȡİȓȞĮ

ʌȡȠțȜȘșȠȪȞĲȡĮȣȝĮĲȚıȝȠȓțĮĲȐĲȠȤİȚȡȚıȝȩ

ĮȚȤȝȘȡȫȞȝİĲĮȜȜȚțȫȞȐțȡȦȞ

 ȂȘȤȡȘıȚȝȠʌȠȚİȓĲİȞİȡȩȖȚĮĲȠȞțĮșĮȡȚıȝȩ

ĲȠȣİıȦĲİȡȚțȠȪĲȠȣțȜȚȝĮĲȚıĲȚțȠȪǾȑțșİıȘ

ıİȞİȡȩȝʌȠȡİȓȞĮȠįȘȖȒıİȚıİʌȚșĮȞȒ

ȘȜİțĲȡȠʌȜȘȟȓĮ

ȈȑȡȕȚȢ

īȚĮİʌȚıțİȣȑȢțĮȚıȣȞĲȒȡȘıȘİʌȚțȠȚȞȦȞȒıĲİȝİ

ĲȠȞİȟȠȣıȚȠįȠĲȘȝȑȞȠĮȞĲȚʌȡȩıȦʌȠĲȠȣıȑȡȕȚȢ

ȆȡȚȞĮʌȩĲȘȜİȚĲȠȣȡȖȓĮ

 ǼʌȚțȠȚȞȦȞȒıĲİȝİȑȞĮȞİȟİȚįȚțİȣȝȑȞȠĲİȤȞȚțȩ

ȖȚĮĲȘȞİȖțĮĲȐıĲĮıȘ

 ȈȣȞįȑıĲİıȦıĲȐĲȠĳȚȢĲȡȠĳȠįȠıȓĮȢ

 ȂȘȤȡȘıȚȝȠʌȠȚİȓĲİĳșĮȡȝȑȞȠȒȝȘıȣȝȕĮĲȚțȩ

țĮȜȫįȚȠĲȡȠĳȠįȠıȓĮȢ

 ȂȘȞțȐȞİĲİțȠȚȞȒȤȡȒıȘĲȘȢȓįȚĮȢʌȡȓȗĮȢȝİ

ȐȜȜİȢıȣıțİȣȑȢ

 ȂȘȤȡȘıȚȝȠʌȠȚİȓĲİțĮȜȫįȚȠʌȡȠȑțĲĮıȘȢ

 ȂȘȞȟİțȚȞȐĲİįȚĮțȩʌĲİĲİĲȘȜİȚĲȠȣȡȖȓĮ

ıȣȞįȑȠȞĲĮȢĮʌȠıȣȞįȑȠȞĲĮȢĲȠțĮȜȫįȚȠ

ĲȡȠĳȠįȠıȓĮȢ

ʌȡȠıȠȤȒ

ǼʌȚȜȑȟĲİĲȘȞʌȚȠțĮĲȐȜȜȘȜȘșİȡȝȠțȡĮıȓĮ

ȂʌȠȡİȓĲİȑĲıȚȞĮİȟȠȚțȠȞȠȝȒıİĲİȘȜİțĲȡȚțȩ

ȡİȪȝĮ

ȂȘȞĮĳȒȞİĲİĲĮʌĮȡȐșȣȡĮțĮȚĲȚȢʌȩȡĲİȢ

ĮȞȠȚȤĲȑȢȖȚĮʌȠȜȜȒȫȡĮțĮĲȐĲȘįȚȐȡțİȚĮĲȘȢ

ȜİȚĲȠȣȡȖȓĮȢĬĮȑȤİȚȦȢĮʌȠĲȑȜİıȝĮȝİȚȦȝȑȞȘ

ĮʌȩįȠıȘ

ȂȘĳȡȐȗİĲİĲȘȞİȓıȠįȠȒȑȟȠįȠĲȠȣĮȑȡĮ

ĬĮȑȤİȚȦȢĮʌȠĲȑȜİıȝĮȝİȚȦȝȑȞȘĮʌȩįȠıȘ

țĮȚșĮʌȡȠțȜȘșȠȪȞįȣıȜİȚĲȠȣȡȖȓİȢ

ĭȣȜȐııİĲİĲĮİȪĳȜİțĲĮȣȜȚțȐȝĮțȡȚȐĮʌȩ

ĲȚȢȝȠȞȐįİȢıİĮʌȩıĲĮıȘĲȠȣȜȐȤȚıĲȠȞP

ȂʌȠȡİȓȞĮʌȡȠțȜȘșİȓʌȣȡțĮȖȚȐ

ȂȘȞʌĮĲȐĲİİʌȐȞȦıĲȘȞİȟȦĲİȡȚțȒȝȠȞȐįĮțĮȚ

ȝȘȞĲȠʌȠșİĲİȓĲİȕĮȡȚȐĮȞĲȚțİȓȝİȞĮİʌȐȞȦĲȘȢ

ȂʌȠȡİȓȞĮʌȡȠțȜȘșİȓȕȜȐȕȘȒĲȡĮȣȝĮĲȚıȝȩȢ

ȂȘȞİʌȚȤİȚȡȒıİĲİȞĮİʌȚıțİȣȐıİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩȝȩȞȠȚıĮȢȅȚİıĳĮȜȝȑȞİȢ

İʌȚıțİȣȑȢȝʌȠȡİȓȞĮʌȡȠțĮȜȑıȠȣȞ

ȘȜİțĲȡȠʌȜȘȟȓĮȒʌȣȡțĮȖȚȐǼʌȚțȠȚȞȦȞȒıİĲİ

ȝİĲȠİȟȠȣıȚȠįȠĲȘȝȑȞȠțȑȞĲȡȠıȑȡȕȚȢĲȘȢ

ʌİȡȚȠȤȒȢıĮȢ

ȂȘȞĲȠʌȠșİĲİȓĲİĲĮȤȑȡȚĮıĮȢȒĮȞĲȚțİȓȝİȞĮ

ȝȑıĮıĲȘȞİȓıȠįȠȒȑȟȠįȠĲȠȣĮȑȡĮȂʌȠȡİȓ

ȞĮʌȡȠțȜȘșİȓĲȡĮȣȝĮĲȚıȝȩȢ

ȂȘȞİțșȑĲİĲİȗȫĮȒĳȣĲȐĮʌİȣșİȓĮȢıĲȘȡȠȒ

ĲȠȣĮȑȡĮ

ȂȘȤȡȘıȚȝȠʌȠȚİȓĲİĲȘȝȠȞȐįĮȖȚĮ

ȠʌȠȚȠȞįȒʌȠĲİȐȜȜȠıțȠʌȩȩʌȦȢĲȘ

ıȣȞĲȒȡȘıȘĲȡȠĳȓȝȦȞȒĲȠıĲȑȖȞȦȝĮȡȠȪȤȦȞ

ȂȘȞʌȚĲıȚȜȐĲİĲȠțȜȚȝĮĲȚıĲȚțȩȝİȞİȡȩȂʌȠȡİȓ

ȞĮʌȡȠțȜȘșİȓȘȜİțĲȡȠʌȜȘȟȓĮȒįȣıȜİȚĲȠȣȡȖȓĮ

57

ȆİȡȚȖȡĮĳȒʌȡȠȧȩȞĲȠȢ

ǼȓıȠįȠȢ

ĮȑȡĮ

ǼıȦĲİȡȚțȒȝȠȞȐįĮ

ǲȟȠįȠȢĮȑȡĮ

ǼȟȦĲİȡȚțȒȝȠȞȐįĮ

ǼȓıȠįȠȢĮȑȡĮʌȓıȦ

ǼȓıȠįȠȢĮȑȡĮ

ʌȜİȣȡȚțȒ

ǼȓıȠįȠȢĮȑȡĮ

ʌȜİȣȡȚțȒ

ǲȟȠįȠȢĮȑȡĮ

ȅȚʌĮȡĮʌȐȞȦİȚțȩȞİȢİȓȞĮȚȝȩȞȠȖȚĮıțȠʌȠȪȢİʌİȟȒȖȘıȘȢ

ȉȠțȜȚȝĮĲȚıĲȚțȩıĮȢİȞįȑȤİĲĮȚȞĮįȚĮĳȑȡİȚȜȓȖȠ

ȉȠʌȡĮȖȝĮĲȚțȩıȤȒȝĮȣʌİȡȚıȤȪİȚ

ȈȘȝİȓȦıȘ

ǲȞįİȚȟȘȠșȩȞȘȢ

ǺȐıȘıĲȒȡȚȟȘȢ

ȂʌȡȠıĲȚȞȩțȐȜȣȝȝĮ

ĭȓȜĲȡȠȣȖȚİȚȞȠȪĮȑȡĮ

ʌȓıȦĮʌȩĲȠĳȓȜĲȡȠıțȩȞȘȢ

ĭȓȜĲȡȠıțȩȞȘȢ

ȅȡȚȗȩȞĲȚĮʌİȡıȓįĮĮȑȡĮ

ȀȐșİĲȘʌİȡıȓįĮĮȑȡĮ

ȆȓıȦĮʌȩĲȘȞ

ȠȡȚȗȩȞĲȚĮʌİȡıȓįĮĮȑȡĮ

ȀȠȣȝʌȓȤİȚȡȠțȓȞȘĲȠȣİȜȑȖȤȠȣ

īİȞȞȒĲȡȚĮȥȣȤȡȠȪʌȜȐıȝĮĲȠȢ

ȈȣȜȜȑțĲȘȢıțȩȞȘȢSODVPD

ȉȘȜİȤİȚȡȚıĲȒȡȚȠ

ǺȐıȘĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȀĮȜȫįȚȠĲȡȠĳȠįȠıȓĮȢ

ȈȦȜȒȞĮȢĲȠȓȤȠȣ

ȉĮȚȞȓĮįİıȓȝĮĲȠȢ

ȈȦȜȒȞĮȢȥȣțĲȚțȠȪ

ǼȪțĮȝʌĲȠȢıȦȜȒȞĮȢĮʌȠıĲȡȐȖȖȚıȘȢ

ȀĮȜȫįȚȠıȪȞįİıȘȢ

ȈȪȞįİıȝȠȢĮʌȠıĲȡȐȖȖȚıȘȢ

58

ȉȘȜİȤİȚȡȚıĲȒȡȚȠ

 ȉȠțȜȚȝĮĲȚıĲȚțȩįİȞșĮȜİȚĲȠȣȡȖȒıİȚĮȞțȠȣȡĲȓȞİȢ

ʌȩȡĲİȢȒȐȜȜĮȣȜȚțȐĳȡȐȗȠȣȞĲĮıȒȝĮĲĮĮʌȩĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

 ǹʌȠĳȪȖİĲİĲȘȞʌĲȫıȘȣȖȡȫȞİʌȐȞȦıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȆȠĲȑȝȘȞİțșȑĲİĲİĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠıİȐȝİıȠȘȜȚĮțȩĳȦȢȒșİȡȝȩĲȘĲĮ

 ǼȐȞȠįȑțĲȘȢȣʌȑȡȣșȡȦȞıȘȝȐĲȦȞıĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮİȓȞĮȚİțĲİșİȚȝȑȞȠȢıİȐȝİıȠȘȜȚĮțȩĳȦȢĲȠ

țȜȚȝĮĲȚıĲȚțȩİȞįȑȤİĲĮȚȞĮȝȘȜİȚĲȠȣȡȖȒıİȚıȦıĲȐ

ȋȡȘıȚȝȠʌȠȚȒıĲİțȠȣȡĲȓȞİȢȖȚĮȞĮĮʌȠĲȡȑȥİĲİĲȠ

ȘȜȚĮțȩĳȦȢȞĮʌȑĳĲİȚİʌȐȞȦıĲȠįȑțĲȘ

 ǼȐȞȐȜȜİȢȘȜİțĲȡȚțȑȢıȣıțİȣȑȢİʌȘȡİȐȗȠȣȞ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȝİĲĮțȚȞȒıĲİĲȚȢıȣıțİȣȑȢȒ

İʌȚțȠȚȞȦȞȒıĲİȝİĲȠȞĲȠʌȚțȩĮȞĲȚʌȡȩıȦʌȠ

ȅșȩȞȘĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ǻȑțĲȘȢ

ıȒȝĮĲȠȢ

 ǼȐȞĳȣȜȐııİĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıİșȑıȘʌȠȣ

İȝʌȠįȓȗİȚĲȘıȦıĲȒȝİĲȐįȠıȘıȒȝĮĲȠȢȝʌȠȡİȓ

ȞĮȣʌȐȡȟİȚȝȚĮȤȡȠȞȚțȒțĮșȣıĲȑȡȘıȘȑȦȢțĮȚ

ȜİʌĲȫȞ

ȆĮȡȐșȣȡȠ

ĮȚıșȘĲȒȡĮ

șİȡȝȠțȡĮıȓĮȢ

ȆȓıȦȩȥȘ

ǵĲĮȞİȓȞĮȚİȞİȡȖȠʌȠȚȘȝȑȞȘȘȜİȚĲȠȣȡȖȓĮ,

)((/ǹȓıșȘıȘĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıĲȑȜȞİȚ

ĲȚȢʌȜȘȡȠĳȠȡȓİȢșİȡȝȠțȡĮıȓĮȢĲȘȢșȑıȘȢĲȠȣ

ıĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮțȐșİįȑțĮȜİʌĲȐ

ǹȞȘİıȦĲİȡȚțȒȝȠȞȐįĮįİȞȜȐȕİȚĮȣĲȑȢĲȚȢ

ʌȜȘȡȠĳȠȡȓİȢșİȡȝȠțȡĮıȓĮȢȖȚĮȑȞĲİțĮ

įȚĮįȠȤȚțȐȜİʌĲȐĲȠțȜȚȝĮĲȚıĲȚțȩįȚĮțȩʌĲİȚĲȘ

ȜİȚĲȠȣȡȖȓĮ,)((/ǹȓıșȘıȘțĮȚİʌȚıĲȡȑĳİȚ

ıĲȘȞțĮȞȠȞȚțȒȜİȚĲȠȣȡȖȓĮ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ+($7ĬǼȇȂǹȃȈǾ

ǹȞȐȕİȚȩĲĮȞȠĲȡȩʌȠȢȜİȚĲȠȣȡȖȓĮȢİȓȞĮȚ+($7

ĬǼȇȂǹȃȈǾ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ&22/ȌȊȄǾ

ǹȞȐȕİȚȩĲĮȞȠĲȡȩʌȠȢȜİȚĲȠȣȡȖȓĮȢİȓȞĮȚ&22/

ȌȊȄǾ

ǲȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢ

ǼȝĳĮȞȓȗİȚĲȚȢȡȣșȝȓıİȚȢșİȡȝȠțȡĮıȓĮȢȩĲĮȞĲȠ

țȜȚȝĮĲȚıĲȚțȩȕȡȓıțİĲĮȚıİȜİȚĲȠȣȡȖȓĮ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ212))

ǹȞȐȕİȚȩĲĮȞȘȝȠȞȐįĮİȓȞĮȚıȣȞįİįİȝȑȞȘȝİĲȘȞ

ȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ'(+80,',)<

ǹĭȊīȇǹȃȈǾ

ǹȞȐȕİȚȩĲĮȞȠĲȡȩʌȠȢȜİȚĲȠȣȡȖȓĮȢİȓȞĮȚ

'(+80,',)<ǹĭȊīȇǹȃȈǾ

ȆȫȢȞĮȤȡȘıȚȝȠʌȠȚİȓĲİĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠ

 ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȠįȑțĲȘ

ıȒȝĮĲȠȢĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ǵĲĮȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıĲȑȜȞİȚȑȞĮ

ıȒȝĮĲȠıȪȝȕȠȜȠ

ĮȞĮȕȠıȕȒȞİȚȖȚĮ

ʌİȡȓʌȠȣįİȣĲİȡȩȜİʌĲȠıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣǾİıȦĲİȡȚțȒȝȠȞȐįĮ

ĮȞĮȖȞȦȡȓȗİȚĲȠıȒȝĮȝİȑȞĮȘȤȘĲȚțȩıȒȝĮ

ȝʌȚʌȩĲĮȞȜĮȝȕȐȞİȚȑȞĮȑȖțȣȡȠıȒȝĮ

 ǺİȕĮȚȦșİȓĲİȩĲȚįİȞȣʌȐȡȤȠȣȞİȝʌȩįȚĮʌȠȣ

ȝʌȠȡİȓȞĮʌĮȡİȝʌȠįȓıȠȣȞĲȠıȒȝĮ

ĬȑıȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ĭȣȜȐııİĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıİıȘȝİȓȠ

ȩʌȠȣĲȠıȒȝĮĲȠȣȝʌȠȡİȓȞĮĳĲȐıİȚĲȠįȑțĲȘ

ĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢİʌȚĲȡȑʌİĲĮȚȝȚĮ

ȝȑȖȚıĲȘĮʌȩıĲĮıȘP

 ǵĲĮȞİʌȚȜȑȖİĲİĲȘȜİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȝİĲĮįȓįİȚĮȣĲȩȝĮĲĮȑȞĮıȒȝĮ

ıĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮĲȘȞțĮșȠȡȚıȝȑȞȘȫȡĮ

ʌȡȠıȠȤȒ

ȊʌİȞșȪȝȚıȘ

59

ȅįȘȖȩȢȖȡȒȖȠȡȘȢȑȞĮȡȟȘȢ

ȆȜȒțĲȡĮ6ZLQJ9țĮȚ6ZLQJ+

ȂİĲĮʌȜȒțĲȡĮʌĮȜȚȞįȡȩȝȘıȘȢȝʌȠȡİȓĲİȞĮİʌȚȜȑȟİĲİ

ĲȘȞȠȡȚȗȩȞĲȚĮ+ȒțȐșİĲȘ9ʌĮȜȚȞįȡȩȝȘıȘĲȦȞ

ʌİȡıȓįȦȞțĮșȠįȒȖȘıȘȢĲȠȣĮȑȡĮ

ȆȜȒțĲȡȠ6OHHS

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘȜİȚĲȠȣȡȖȓĮ

ȪʌȞȠȣ

ȆȜȒțĲȡĮ7LPHU2Q7LPHU2II

ȆĮĲȒıĲİĲȠȖȚĮȞĮȡȣșȝȓıİĲİĲȘȞĮȣĲȩȝĮĲȘȑȞĮȡȟȘțĮȚ

įȚĮțȠʌȒĲȘȢȜİȚĲȠȣȡȖȓĮȢĲȠȣțȜȚȝĮĲȚıĲȚțȠȪ

ȆȜȒțĲȡȠ/LJKW

ȆĮĲȒıĲİĲȠȖȚĮȞĮİȞİȡȖȠʌȠȚȘșȠȪȞȒȞĮĮʌİȞİȡȖȠʌȠȚȘșȠȪȞ

ȠȚİȞįİȚțĲȚțȑȢȜȣȤȞȓİȢĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ȆȜȒțĲȡȠ7XUER

ȆĮĲȒıĲİĲȠȖȚĮȞĮĲİșİȓȠĮȞİȝȚıĲȒȡĮȢıİȣȥȘȜȒ

ĲĮȤȪĲȘĲĮȖȚĮĲĮȤİȓĮȥȪȟȘȒșȑȡȝĮȞıȘ

ǼȚįȚțȑȢȜİȚĲȠȣȡȖȓİȢ

;)$1

ǹĳȠȪĮʌİȞİȡȖȠʌȠȚȘșİȓȘȝȠȞȐįĮȠİıȦĲİȡȚțȩȢ

ĮȞİȝȚıĲȒȡĮȢșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓİʌȓȜİʌĲȐȖȚĮȞĮ

ĮʌȠȝĮțȡȪȞİȚĲȘȞȣȖȡĮıȓĮĮʌȩĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮțĮȚ

ȞĮĮʌȠĳİȣȤșİȓȘĮȞȐʌĲȣȟȘȕĮțĲȘȡȓȦȞțĮȚȝȣțȒĲȦȞ

ȈȤİĲȚțȐȝİĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾ

ȈİĮȣĲȒȞĲȘȜİȚĲȠȣȡȖȓĮȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮįİȞ

İȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠțĮȚȘȝȠȞȐįĮțȡȓȞİȚțĮȚ

İʌȚȜȑȖİȚĮȣĲȩȝĮĲĮĲȘȞțĮĲȐȜȜȘȜȘȝȑșȠįȠȜİȚĲȠȣȡȖȓĮȢȖȚĮ

ȞĮįȘȝȚȠȣȡȖȒıİȚȝȚĮȐȞİĲȘĮĲȝȩıĳĮȚȡĮ

ȀȜİȓįȦȝĮĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȆĮĲȒıĲİĲĮʌȜȒțĲȡĮ6ZLQJ9țĮȚ,21)LOWHUĲĮȣĲȩȤȡȠȞĮȖȚĮ

ȞĮțȜİȚįȫıİĲİȒȞĮȟİțȜİȚįȫıİĲİĲȠʌȜȘțĲȡȠȜȩȖȚȠǹȞĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚțȜİȚįȦȝȑȞȠİȝĳĮȞȓȗİĲĮȚĲȠİȚțȠȞȓįȚȠ

ȩʌȠȣĮȞʌĮĲȒıİĲİȠʌȠȚȠįȒʌȠĲİʌȜȒțĲȡȠȘȑȞįİȚȟȘșĮ

ĮȞĮȕȠıȕȒıİȚĲȡİȚȢĳȠȡȑȢǹȞĲȠʌȜȘțĲȡȠȜȩȖȚȠȟİțȜİȚįȦșİȓ

ȘȑȞįİȚȟȘİȟĮĳĮȞȓȗİĲĮȚ

ǼȞĮȜȜĮȖȒȝİĲĮȟȪȕĮșȝȫȞȀİȜıȓȠȣțĮȚĭĮȡİȞȐȚĲ

ȂİĲȠțȜȚȝĮĲȚıĲȚțȩĮʌİȞİȡȖȠʌȠȚȘȝȑȞȠʌĮĲȒıĲİĲĮȣĲȩȤȡȠȞĮ

ĲĮʌȜȒțĲȡĮ6ZLQJ+țĮȚ,21)LOWHUȖȚĮİȞĮȜȜĮȖȒȝİĲĮȟȪ

ĲȦȞȕĮșȝȫȞ&țĮȚ)

ǼȟȠȚțȠȞȩȝȘıȘİȞȑȡȖİȚĮȢ

ȈĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾʌĮĲȒıĲİĲĮȣĲȩȤȡȠȞĮĲĮ

ʌȜȒțĲȡĮ,21)LOWHUțĮȚ&ORFNȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİȒȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȘȜİȚĲȠȣȡȖȓĮİȟȠȚțȠȞȩȝȘıȘȢİȞȑȡȖİȚĮȢ

ȈĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣșĮİȝĳĮȞȚıĲİȓȘȑȞįİȚȟȘ

©6(ªıĲȘȞʌİȡȚȠȤȒİȝĳȐȞȚıȘȢĲȘȢșİȡȝȠțȡĮıȓĮȢȩĲĮȞİȓȞĮȚ

İȞİȡȖȒ

ȁİȚĲȠȣȡȖȓĮȤĮȝȘȜȒȢșİȡȝȩĲȘĲĮȢ

ȈĲȘȜİȚĲȠȣȡȖȓĮ+($7ĬǼȇȂǹȃȈǾʌĮĲȒıĲİĲĮȣĲȩȤȡȠȞĮ

ĲĮʌȜȒțĲȡĮ,21)LOWHUțĮȚ&ORFNȖȚĮȞĮĲİșİȓĲȠțȜȚȝĮĲȚıĲȚțȩ

ıİȜİȚĲȠȣȡȖȓĮȤĮȝȘȜȒȢșİȡȝȩĲȘĲĮȢʌȠȣșĮȜİȚĲȠȣȡȖȒıİȚ

ȑȦȢĲȘșİȡȝȠțȡĮıȓĮĲȦȞ&ǼʌĮȞĮȜȐȕİĲİĲȘįȚĮįȚțĮıȓĮ

ȖȚĮȞĮĲȘȞĮʌİȞİȡȖȠʌȠȚȒıİĲİ

ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİ

ȒȞĮĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ȆȜȒțĲȡȠ0RGH

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİʌȚȜȑȟİĲİ

ĲȠȞİʌȚșȣȝȘĲȩĲȡȩʌȠȜİȚĲȠȣȡȖȓĮȢ$872

ǹȊȉȅȂǹȉǾ&22/ȌȊȄǾ'(+80,',)<

ǹĭȊīȇǹȃȈǾ)$1ǹȃǼȂǿȈȉǾȇǹȈțĮȚ

+($7ĬǼȇȂǹȃȈǾ

ȆȜȒțĲȡȠȡȪșȝȚıȘȢ

 țĮȚ

ȆĮĲȒıĲİĮȣĲȐĲĮįȪȠʌȜȒțĲȡĮȖȚĮȞĮȡȣșȝȓıİĲİ

ĲȘȞİʌȚșȣȝȘĲȒșİȡȝȠțȡĮıȓĮ

ȆȜȒțĲȡȠ)DQ

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮȡȣșȝȓıİĲİĲȘȞ

ĲĮȤȪĲȘĲĮĲȠȣĮȞİȝȚıĲȒȡĮıİǹȣĲȩȝĮĲȘȋĮȝȘȜȒ

ȂİıĮȓĮȤĮȝȘȜȒȂİıĮȓĮȂİıĮȓĮȣȥȘȜȒțĮȚ

ȊȥȘȜȒ

&22/ȌȊȄǾ

'(+80,',)<

ǹĭȊīȇǹȃȈǾ+($7

ĬǼȇȂǹȃȈǾ

ȁİȚĲȠȣȡȖȓĮ

ȇȣșȝȚıȝȑȞȘ

șİȡȝȠțȡĮıȓĮ

60

ȅįȘȖȩȢȖȡȒȖȠȡȘȢȑȞĮȡȟȘȢ

ǾȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾİȓȞĮȚȘ

ʌȡȠİʌȚȜİȖȝȑȞȘțĮĲȐĲȘȞİȞİȡȖȠʌȠȓȘıȘ

ȈĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾȘșİȡȝȠțȡĮıȓĮ

įİȞİȝĳĮȞȓȗİĲĮȚ

ȈĲȘȜİȚĲȠȣȡȖȓĮ+($7ĬǼȇȂǹȃȈǾȘĮȡȤȚțȒĲȚȝȒ

İȓȞĮȚ&

ȈĲȚȢȐȜȜİȢȜİȚĲȠȣȡȖȓİȢȘĮȡȤȚțȒĲȚȝȒİȓȞĮȚ&

ȆȜȒțĲȡȠȡȪșȝȚıȘȢ

 ǼȝʌȡȩȢ

ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ

ȖȚĮȞĮĮȣȟȒıİĲİĲȘȡȪșȝȚıȘ

ĲȘȢșİȡȝȠțȡĮıȓĮȢȀȡĮĲȒıĲİʌĮĲȘȝȑȞȠĮȣĲȩĲȠ

țȠȣȝʌȓȖȚĮįİȣĲİȡȩȜİʌĲĮȒʌİȡȚııȩĲİȡȠȖȚĮȞĮ

ĮȣȟȘșİȓʌȚȠȖȡȒȖȠȡĮȘȡȪșȝȚıȘĲȘȢșİȡȝȠțȡĮıȓĮȢ

ǾȝȑȖȚıĲȘȡȪșȝȚıȘİȓȞĮȚ&

ȈĲȚȢȜİȚĲȠȣȡȖȓİȢ7LPHU2Q2IIȋȡȠȞȠįȚĮțȩʌĲȘȢ

İȞİȡȖȠʌȠȓȘıȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢȒ&ORFNȇȠȜȩȚ

ȤȡȘıȚȝȠʌȠȚȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮȡȣșȝȓıİĲİĲȠ

ȡȠȜȩȚȒĲȠȤȡȠȞȠįȚĮțȩʌĲȘ

ȆȜȒțĲȡȠȡȪșȝȚıȘȢ

 ȆȓıȦ

ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ

ȖȚĮȞĮȝİȚȫıİĲİĲȘȡȪșȝȚıȘ

ĲȘȢșİȡȝȠțȡĮıȓĮȢȀȡĮĲȒıĲİʌĮĲȘȝȑȞȠĮȣĲȩĲȠ

țȠȣȝʌȓȖȚĮįİȣĲİȡȩȜİʌĲĮȒʌİȡȚııȩĲİȡȠȖȚĮȞĮ

ȝİȚȦșİȓʌȚȠȖȡȒȖȠȡĮȘȡȪșȝȚıȘĲȘȢșİȡȝȠțȡĮıȓĮȢ

ǾȝȑȖȚıĲȘȡȪșȝȚıȘİȓȞĮȚ&

ȈĲȚȢȜİȚĲȠȣȡȖȓİȢ7LPHU2Q2IIȋȡȠȞȠįȚĮțȩʌĲȘȢ

İȞİȡȖȠʌȠȓȘıȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢȒ&ORFNȇȠȜȩȚ

ȤȡȘıȚȝȠʌȠȚȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮȡȣșȝȓıİĲİĲȠ

ȡȠȜȩȚȒĲȠȤȡȠȞȠįȚĮțȩʌĲȘ

ȆȜȒțĲȡȠ)DQ

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠȝʌȠȡİȓĲİȞĮİʌȚȜȑȟİĲİ

įȚĮįȠȤȚțȐĲȘȞǹȣĲȩȝĮĲȘȋĮȝȘȜȒȂİıĮȓĮȤĮȝȘȜȒ

ȂİıĮȓĮȂİıĮȓĮȣȥȘȜȒțĮȚȊȥȘȜȒĲĮȤȪĲȘĲĮ

ǵĲĮȞİȞİȡȖȠʌȠȚİȓĲĮȚȘȝȠȞȐįĮȘǹȣĲȩȝĮĲȘĲĮȤȪĲȘĲĮ

ĮȞİȝȚıĲȒȡĮİȓȞĮȚȘʌȡȠİʌȚȜİȖȝȑȞȘ

ȈĲȘȜİȚĲȠȣȡȖȓĮ'(+80,',)<ǹĭȊīȇǹȃȈǾȘĲĮȤȪĲȘĲĮ

ĮȞİȝȚıĲȒȡĮİȓȞĮȚȡȣșȝȚıȝȑȞȘıĲȘȋĮȝȘȜȒĲĮȤȪĲȘĲĮ

ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮ

İȞİȡȖȠʌȠȚȒıİĲİȒȞĮĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ǾȜİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢĮțȣȡȫȞİĲĮȚȩĲĮȞ

ĮʌİȞİȡȖȠʌȠȚİȓĲĮȚȘȝȠȞȐįĮ

ȆȜȒțĲȡȠ0RGH

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠȝʌȠȡİȓĲİȞĮİʌȚȜȑȟİĲİįȚĮįȠȤȚțȐ

ĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾ&22/ȌȊȄǾ

'(+80,',)<ǹĭȊīȇǹȃȈǾ)$1ǹȃǼȂǿȈȉǾȇǹȈțĮȚ

+($7ĬǼȇȂǹȃȈǾĲȠȝȠȞĲȑȜȠȝȩȞȠ&22/ȌȊȄǾįİȞ

įȚĮșȑĲİȚĲȘȜİȚĲȠȣȡȖȓĮ+($7ĬǼȇȂǹȃȈǾ

ȋĮȝȘȜȒĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȂİıĮȓĮȤĮȝȘȜȒĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȂİıĮȓĮĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȂİıĮȓĮȣȥȘȜȒĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȊȥȘȜȒĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȉĮțȐĲȦ

ʌȜȒțĲȡĮ

İȝĳĮȞȓȗȠȞĲĮȚ

ıȪȡȠȞĲĮȢĲȠ

țĮʌȐțȚʌȡȠȢĲĮ

țȐĲȦ

 $872 '(+80,',)< &22/ )$1 +($7

 ǹȊȉȅȂǹȉǾ ǹĭȊīȇǹȃȈǾ ȌȊȄǾ ǹȃǼȂǿȈȉǾȇǹȈ ĬǼȇȂǹȃȈǾ

61

ȆȜȒțĲȡȠ7XUER

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠıĲȘȜİȚĲȠȣȡȖȓĮ&22/

ȌȊȄǾȒ+($7ĬǼȇȂǹȃȈǾȖȚĮȞĮȝİĲĮȕİȓȠ

ĮȞİȝȚıĲȒȡĮȢıĲȘȜİȚĲȠȣȡȖȓĮȣȥȘȜȒȢĲĮȤȪĲȘĲĮȢ

7XUERțĮȚȞĮȜİȚĲȠȣȡȖȒıİȚĲȠțȜȚȝĮĲȚıĲȚțȩıĲȘ

ȝȑȖȚıĲȘȚıȤȪ

ȉȠıȪȝȕȠȜȠ7XUER

İȝĳĮȞȓȗİĲĮȚıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ǾȜİȚĲȠȣȡȖȓĮ7XUERȉȠȪȡȝʌȠșĮĮțȣȡȦșİȓĮȞ

ʌĮĲȘșİȓȟĮȞȐĲȠʌȜȒțĲȡȠ7XUERȒĮȞĮȜȜȐȟİȚȘ

ȜİȚĲȠȣȡȖȓĮȒȘĲĮȤȪĲȘĲĮĲȠȣĮȞİȝȚıĲȒȡĮ

ȆȜȒțĲȡȠ6ZLQJ9

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠȘȠȡȚȗȩȞĲȚĮ

ʌİȡıȓįĮʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮʌȐȞȦțĮȚțȐĲȦ

țĮȚȘȑȞįİȚȟȘ

İȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȆĮĲȫȞĲĮȢĲȠʌȐȜȚĮțȣȡȫȞİĲĮȚȘȜİȚĲȠȣȡȖȓĮțĮȚ

ȘʌİȡıȓįĮʌĮȡĮȝȑȞİȚıĲȘȞĲİȜİȣĲĮȓĮĲȘȢșȑıȘ

ȆȜȒțĲȡȠ6ZLQJ+

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠȘțȐșİĲȘʌİȡıȓįĮ

ʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮĮȡȚıĲİȡȐțĮȚįİȟȚȐțĮȚȘ

ȑȞįİȚȟȘ

İȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȆĮĲȫȞĲĮȢĲȠʌȐȜȚĮțȣȡȫȞİĲĮȚȘȜİȚĲȠȣȡȖȓĮțĮȚ

ȘʌİȡıȓįĮʌĮȡĮȝȑȞİȚıĲȘȞĲİȜİȣĲĮȓĮĲȘȢșȑıȘ

ȆȜȒțĲȡȠ4XLHW

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠȠİıȦĲİȡȚțȩȢ

ĮȞİȝȚıĲȒȡĮȢȜİȚĲȠȣȡȖİȓıİİȟĮȚȡİĲȚțȐȤĮȝȘȜȒ

ĲĮȤȪĲȘĲĮțĮȚȠİıȦĲİȡȚțȩȢșȩȡȣȕȠȢİȓȞĮȚ

ȤĮȝȘȜȩȢ

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȝȩȜȚȢİȞİȡȖȠʌȠȚȘșİȓȘ

ȜİȚĲȠȣȡȖȓĮ4XLHWǹșȩȡȣȕȠ

ǾȜİȚĲȠȣȡȖȓĮ4XLHWǹșȩȡȣȕȠțĮȚȘ

ȜİȚĲȠȣȡȖȓĮ7XUERȉȠȪȡȝʌȠįİȞȝʌȠȡȠȪȞȞĮ

İȞİȡȖȠʌȠȚȘșȠȪȞĲĮȣĲȩȤȡȠȞĮ

ǾȜİȚĲȠȣȡȖȓĮ4XLHWǹșȩȡȣȕȠșĮĮțȣȡȦșİȓĮȞ

ʌĮĲȘșİȓȟĮȞȐĲȠʌȜȒțĲȡȠ4XLHWȒĮȞĮȜȜȐȟİȚȘ

ȜİȚĲȠȣȡȖȓĮȒȘĲĮȤȪĲȘĲĮĲȠȣĮȞİȝȚıĲȒȡĮ

ȆȜȒțĲȡȠ6OHHS

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘ

ȜİȚĲȠȣȡȖȓĮȪʌȞȠȣ

ĲȘȜİȚĲȠȣȡȖȓĮȪʌȞȠȣ 

ĲȘȜİȚĲȠȣȡȖȓĮȪʌȞȠȣ

țĮȚȖȚĮȞĮĮțȣȡȫıİĲİ

ĲȘȜİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢ

ǻǿǹȀȅȆǾ

 ȁİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢ

ȈĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾȒ'(+80,',)<

ǹĭȊīȇǹȃȈǾȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮ

ĮȣȟȐȞİĲĮȚțĮĲȐ&ȝİĲȐĮʌȩȝȚĮȫȡĮ

ĮȣȟȐȞİĲĮȚĮțȩȝĮ&ȝİĲȐĮʌȩįȪȠȫȡİȢțĮȚ

ıȣȞİȤȓȗİȚȞĮȜİȚĲȠȣȡȖİȓȝİĮȣĲȒĲȘȡȪșȝȚıȘ

 ȁİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢ

ȈİĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮĲȠțȜȚȝĮĲȚıĲȚțȩȜİȚĲȠȣȡȖİȓ

ıȪȝĳȦȞĮȝİȝȚĮʌȡȠțĮșȠȡȚıȝȑȞȘțĮȝʌȪȜȘ

șİȡȝȠțȡĮıȓĮȢȪʌȞȠȣ

ȈĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾ

 ȀĮĲȐĲȘȡȪșȝȚıȘĲȘȢĮȡȤȚțȒȢșİȡȝȠțȡĮıȓĮȢ

ȝİĲĮȟȪ&ȝİĲȐĮʌȩĲȘȞİȞİȡȖȠʌȠȓȘıȘĲȘȢ

ȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢȘșİȡȝȠțȡĮıȓĮșĮ

ĮȣȟȐȞİĲĮȚțĮĲȐ&țȐșİȫȡĮȝİĲȐĮʌȩ&Ș

șİȡȝȠțȡĮıȓĮįȚĮĲȘȡİȓĲĮȚıĲĮșİȡȒȝİĲȐĮʌȩ

ȫȡİȢȘșİȡȝȠțȡĮıȓĮșĮȝİȚȦșİȓțĮĲȐ&țĮȚ

ȑʌİȚĲĮȘȝȠȞȐįĮșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıİ

ĮȣĲȒĲȘșİȡȝȠțȡĮıȓĮ

 ȀĮĲȐĲȘȡȪșȝȚıȘĲȘȢĮȡȤȚțȒȢșİȡȝȠțȡĮıȓĮȢ

ȝİĲĮȟȪ&ȝİĲȐĮʌȩĲȘȞİȞİȡȖȠʌȠȓȘıȘĲȘȢ

ȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢȘșİȡȝȠțȡĮıȓĮșĮ

ĮȣȟȐȞİĲĮȚțĮĲȐ&țȐșİȫȡĮȝİĲȐĮʌȩ&Ș

șİȡȝȠțȡĮıȓĮįȚĮĲȘȡİȓĲĮȚıĲĮșİȡȒȝİĲȐĮʌȩ

ȫȡİȢȘșİȡȝȠțȡĮıȓĮșĮȝİȚȦșİȓțĮĲȐ&țĮȚ

ȑʌİȚĲĮȘȝȠȞȐįĮșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıİ

ĮȣĲȒĲȘșİȡȝȠțȡĮıȓĮ

 ȀĮĲȐĲȘȡȪșȝȚıȘĲȘȢĮȡȤȚțȒȢșİȡȝȠțȡĮıȓĮȢ

ȝİĲĮȟȪ&ȝİĲȐĮʌȩĲȘȞİȞİȡȖȠʌȠȓȘıȘ

ĲȘȢȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢȘșİȡȝȠțȡĮıȓĮ

șĮĮȣȟȘșİȓțĮĲȐ&ĲȘȞʌȡȫĲȘȫȡĮȝİĲȐĮʌȩ

ȫȡİȢȘșİȡȝȠțȡĮıȓĮșĮȝİȚȦșİȓțĮĲȐ&țĮȚ

ȑʌİȚĲĮȘȝȠȞȐįĮșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıİ

ĮȣĲȒĲȘșİȡȝȠțȡĮıȓĮ

 ȀĮĲȐĲȘȡȪșȝȚıȘĲȘȢĮȡȤȚțȒȢșİȡȝȠțȡĮıȓĮȢ

ıĲȠȣȢ&ȝİĲȐĮʌȩȫȡİȢȘșİȡȝȠțȡĮıȓĮ

șĮȝİȚȦșİȓțĮĲȐ&țĮȚȑʌİȚĲĮȘȝȠȞȐįĮșĮ

ıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıİĮȣĲȒĲȘșİȡȝȠțȡĮıȓĮ

ȈĲȘȜİȚĲȠȣȡȖȓĮ+($7ĬǼȇȂǹȃȈǾȘȡȣșȝȚıȝȑȞȘ

șİȡȝȠțȡĮıȓĮȝİȚȫȞİĲĮȚțĮĲȐ&ȝİĲȐĮʌȩȝȚĮȫȡĮțĮȚ

ȝİȚȫȞİĲĮȚĮțȩȝĮ&ȝİĲȐĮʌȩȫȡİȢțĮȚıȣȞİȤȓȗİȚȞĮ

ȜİȚĲȠȣȡȖİȓȝİĮȣĲȒĲȘȡȪșȝȚıȘ

ȇȣșȝȚıȝȑȞȘ

șİȡȝȠțȡĮıȓĮ

ȫȡĮ

ȇȣșȝȚıȝȑȞȘ

șİȡȝȠțȡĮıȓĮ

62

ȈĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾȒ'(+80,',)<

ǹĭȊīȇǹȃȈǾ

 ǵĲĮȞȘĮȡȤȚțȒșİȡȝȠțȡĮıȓĮİȓȞĮȚ&ĲȠ

țȜȚȝĮĲȚıĲȚțȩșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓȝİ

ĮȣĲȒĲȘȡȪșȝȚıȘ

 ǵĲĮȞȘĮȡȤȚțȒșİȡȝȠțȡĮıȓĮİȓȞĮȚȝİĲĮȟȪ&

ȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮȝİȚȫȞİĲĮȚțĮĲȐ

&ȝİĲȐĮʌȩĲȘȞʌȡȫĲȘȫȡĮțĮȚıȣȞİȤȓȗİȚȞĮ

ȜİȚĲȠȣȡȖİȓȝİĮȣĲȒĲȘȡȪșȝȚıȘ

 ǵĲĮȞȘĮȡȤȚțȒșİȡȝȠțȡĮıȓĮİȓȞĮȚȝİĲĮȟȪ&

ȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮȝİȚȫȞİĲĮȚțĮĲȐ&

țȐșİȫȡĮȝİĲȐĮʌȩįȪȠȫȡİȢĲȠțȜȚȝĮĲȚıĲȚțȩ

ıȣȞİȤȓȗİȚȞĮȜİȚĲȠȣȡȖİȓȝİĮȣĲȒĲȘȡȪșȝȚıȘ

 ǵĲĮȞȘĮȡȤȚțȒșİȡȝȠțȡĮıȓĮİȓȞĮȚȝİĲĮȟȪ

&ȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮȝİȚȫȞİĲĮȚ

țĮĲȐ&țȐșİȫȡĮȝİĲȐĮʌȩĲȡİȚȢȫȡİȢĲȠ

țȜȚȝĮĲȚıĲȚțȩıȣȞİȤȓȗİȚȞĮȜİȚĲȠȣȡȖİȓȝİĮȣĲȒĲȘ

ȡȪșȝȚıȘ

 ȁİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢ

ȈİĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮȘțĮȝʌȪȜȘșİȡȝȠțȡĮıȓĮȢ

ȪʌȞȠȣȡȣșȝȓȗİĲĮȚȝȘĮȣĲȩȝĮĲĮ

 ȂİĲȐĲȘȞİʌȚȜȠȖȒĲȘȢȜİȚĲȠȣȡȖȓĮȢ6OHHS

ǶʌȞȠȢ

ʌĮĲȒıĲİțĮȚțȡĮĲȒıĲİ

ʌĮĲȘȝȑȞȠĲȠʌȜȒțĲȡȠ7XUERȑȦȢȩĲȠȣĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȝİĲĮȕİȓıİțĮĲȐıĲĮıȘ

ȡȪșȝȚıȘȢȪʌȞȠȣțĮșȠȡȚıȝȑȞȘĮʌȩĲȠȤȡȒıĲȘ

ȉȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȝĳĮȞȓȗİȚĲȘȞȑȞįİȚȟȘ

©ªȫȡĮȘȑȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢİȝĳĮȞȓȗİȚ

ĲȘȞĮȞĲȓıĲȠȚȤȘșİȡȝȠțȡĮıȓĮĲȘȢĲİȜİȣĲĮȓĮȢ

ȡȪșȝȚıȘȢĲȘȢțĮȝʌȪȜȘȢȪʌȞȠȣȘȠʌȠȓĮ

ĮȞĮȕȠıȕȒȞİȚȘĮȡȤȚțȒİȡȖȠıĲĮıȚĮțȒȡȪșȝȚıȘ

İȝĳĮȞȓȗİĲĮȚțĮĲȐĲȘȞʌȡȫĲȘȤȡȒıȘ

 ȆĮĲȒıĲİĲĮʌȜȒțĲȡĮȡȪșȝȚıȘȢ

țĮȚ ȖȚĮȞĮ

ĮȜȜȐȟİĲİĲȘȞİʌȚȜİȖȝȑȞȘșİȡȝȠțȡĮıȓĮȖȚĮĲȘȞ

ʌȡȫĲȘȫȡĮĲȠȣȪʌȞȠȣȂİĲȐĮʌȩĲȘȡȪșȝȚıȘ

ĲȘȢșİȡȝȠțȡĮıȓĮȢʌĮĲȒıĲİĲȠʌȜȒțĲȡȠ7XUER

ȖȚĮİʌȚȕİȕĮȓȦıȘ

 ǾȫȡĮĲȘȢȜİȚĲȠȣȡȖȓĮȢȪʌȞȠȣĮȣȟȐȞİĲĮȚ

ĮȣĲȩȝĮĲĮıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıĲȘȘȘ

ȫȡĮȜİȚĲȠȣȡȖȓĮȢȪʌȞȠȣțȜʌȝİțȐșİʌȐĲȘȝĮ

ĲȠȣʌȜȒțĲȡȠȣ7XUER

 ǼʌĮȞĮȜȐȕİĲİĲĮʌĮȡĮʌȐȞȦȕȒȝĮĲĮ

ĲȘȢįȚĮįȚțĮıȓĮȢȑȦȢȩĲȠȣȠȜȠțȜȘȡȫıİĲİ

ĲȘȡȪșȝȚıȘșİȡȝȠțȡĮıȓĮȢȪʌȞȠȣȖȚĮ

ȫȡİȢȉȠĲȘȜİȤİȚȡȚıĲȒȡȚȠșĮİʌĮȞȑȜșİȚıĲȘȞ

ĮȡȤȚțȒȑȞįİȚȟȘȤȡȠȞȠįȚĮțȩʌĲȘțĮȚȘȑȞįİȚȟȘ

șİȡȝȠțȡĮıȓĮȢșĮİʌĮȞȑȜșİȚıĲȘȞĮȡȤȚțȒ

ȡȪșȝȚıȘ

ȂʌȠȡİȓĲİȞĮİȜȑȖȟİĲİĲȠʌȡȩȖȡĮȝȝĮ

ȪʌȞȠȣİʌȚȜȑȖȠȞĲĮȢĲȘȜİȚĲȠȣȡȖȓĮȪʌȞȠȣ



ʌĮĲȫȞĲĮȢʌĮȡĮĲİĲĮȝȑȞĮĲȠʌȜȒțĲȡȠ7XUERțĮȚ

İʌĮȞĮȜĮȝȕȐȞȠȞĲĮȢĲȠʌȐĲȘȝĮĲȠȣʌȜȒțĲȡȠȣ

7XUERȖȚĮĲȠȞȑȜİȖȤȠĲȦȞșİȡȝȠțȡĮıȚȫȞĲȠȣ

ʌȡȠȖȡȐȝȝĮĲȠȢȪʌȞȠȣȤȦȡȓȢȞĮʌĮĲȒıİĲİĲȠ

ʌȜȒțĲȡȠȡȪșȝȚıȘȢ

Ȓ 

ȈİĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮĮȞįİȞʌĮĲȘșİȓțĮȞȑȞĮ

ʌȜȒțĲȡȠȖȚĮįİȣĲİȡȩȜİʌĲĮȘȠșȩȞȘİʌĮȞȑȡȤİĲĮȚ

ıĲȘȞțĮȞȠȞȚțȒȜİȚĲȠȣȡȖȓĮ

ȆȜȒțĲȡȠ,21)LOWHU

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİțĮȚȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȘȜİȚĲȠȣȡȖȓĮȥȣȤȡȠȪʌȜȐıȝĮĲȠȢțĮȚ

ĲȘȜİȚĲȠȣȡȖȓĮıȣȜȜȑțĲȘıțȩȞȘȢSODVPD

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠĮȞ

İʌȚȜİȖİȓȘȜİȚĲȠȣȡȖȓĮȥȣȤȡȠȪʌȜȐıȝĮĲȠȢțĮȚȘȜİȚĲȠȣȡȖȓĮ

ıȣȜȜȑțĲȘıțȩȞȘȢSODVPD

ȆȜȒțĲȡȠ,)HHO

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİ

ĲȘȜİȚĲȠȣȡȖȓĮ,)HHOǹȓıșȘıȘțĮȚĲȠıȪȝȕȠȜȠ



İȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȉȠĲȘȜİȤİȚȡȚıĲȒȡȚȠĮʌȠıĲȑȜȜİȚĲȚȢʌȜȘȡȠĳȠȡȓİȢ

șİȡȝȠțȡĮıȓĮȢıĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮțȐșİįȑțĮ

ȜİʌĲȐȉȠțȜȚȝĮĲȚıĲȚțȩȜİȚĲȠȣȡȖİȓȖȚĮȞĮ

İʌȚĲȪȤİȚĲȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮıĲȘșȑıȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȆĮĲȒıĲİĲȠʌȐȜȚȖȚĮȞĮĮțȣȡȦșİȓȘȜİȚĲȠȣȡȖȓĮĮȣĲȒ

ȆȜȒțĲȡȠ;)DQ

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠıĲȘȜİȚĲȠȣȡȖȓĮ&22/

ȌȊȄǾȒ'(+80,',)<ǹĭȊīȇǹȃȈǾȖȚĮȞĮ

İȞİȡȖȠʌȠȚȒıİĲİĲȘȜİȚĲȠȣȡȖȓĮ;)DQǹȞİȝȚıĲȒȡĮȢ

ȋȉȠıȪȝȕȠȜȠİȝĳĮȞȓȗİĲĮȚıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ǹĳȠȪĮʌİȞİȡȖȠʌȠȚȘșİȓȘȝȠȞȐįĮȠİıȦĲİȡȚțȩȢ

ĮȞİȝȚıĲȒȡĮȢșĮıȣȞİȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıİȤĮȝȘȜȒ

ĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮİʌȓȜİʌĲȐȖȚĮȞĮıĲİȖȞȫıİȚ

ĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮțĮȚȞĮĮʌȠĳİȣȤșİȓȘ

ĮȞȐʌĲȣȟȘȕĮțĲȘȡȓȦȞțĮȚȝȣțȒĲȦȞ

ȆĮĲȒıĲİĲȠʌȐȜȚȖȚĮȞĮĮțȣȡȦșİȓȘȜİȚĲȠȣȡȖȓĮĮȣĲȒ

ȆȜȒțĲȡȠ&ORFN

ȆĮĲȫȞĲĮȢĮȣĲȩĲȠʌȜȒțĲȡȠĲȠıȪȝȕȠȜȠ&ORFN

ȇȠȜȩȚ

ĮȞĮȕȠıȕȒȞİȚȂʌȠȡİȓĲİȞĮʌĮĲȒıİĲİĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢ

țĮȚ ȖȚĮȞĮȡȣșȝȓıİĲİĲȘȞ

ȫȡĮʌȠȣșȑȜİĲİ

ȆȜȒțĲȡȠ/LJKW

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȘșȠȪȞ

ȒȞĮĮʌİȞİȡȖȠʌȠȚȘșȠȪȞȠȚİȞįİȚțĲȚțȑȢȜȣȤȞȓİȢĲȘȢ

İıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ǾțĮȞȠȞȚțȒțĮĲȐıĲĮıȘțĮĲȐĲȘȞȑȞĮȡȟȘİȓȞĮȚȞĮİȓȞĮȚ

İȞİȡȖȠʌȠȚȘȝȑȞİȢ

ȆȜȒțĲȡȠ7LPHU2Q

ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2QȖȚĮȞĮȡȣșȝȓıİĲİĲȘ

ȜİȚĲȠȣȡȖȓĮ7LPHU2QȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

ȒĲȘȞȫȡĮȑȞĮȡȟȘȢĲȠıȪȝȕȠȜȠ

șĮĮȞĮȕȠıȕȒıİȚ

ıĲȘȞȠșȩȞȘȆĮĲȒıĲİĲȠʌȜȒțĲȡȠȡȪșȝȚıȘȢ

Ȓ ȖȚĮȞĮ

ȡȣșȝȓıİĲİĲȘȞȫȡĮȑȞĮȡȟȘȢ

ȆĮĲȒıĲİʌȐȜȚĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮĮțȣȡȫıİĲİĲȘ

ȜİȚĲȠȣȡȖȓĮ7LPHU2QȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

țĮȚĲȠıȪȝȕȠȜȠ

șĮİȟĮĳĮȞȚıĲİȓ

ǼʌĮȜȘșİȪıĲİĲȚȢȡȣșȝȓıİȚȢ7LPHU2Q

ȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢʌĮĲȫȞĲĮȢĲȠ

ʌȜȒțĲȡȠ7LPHU2QȒʌİȡȚȝȑȞİĲİȖȚĮįİȣĲİȡȩȜİʌĲĮ

ĮĳȠȪİʌȚȜȑȟİĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮțĮȚĲȠıȪȝȕȠȜȠ

șĮİȝĳĮȞȓȗİĲĮȚıȣȞȑȤİȚĮ

ǾʌȡȠİʌȚȜİȖȝȑȞȘȫȡĮȖȚĮĲȠȞȤȡȠȞȠįȚĮțȩʌĲȘ

İȞİȡȖȠʌȠȓȘıȘȢİȓȞĮȚ$0

63

ǲȞįİȚȟȘȠșȩȞȘȢĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 $872 '(+80,',)< &22/ )$1 +($7

 ǹȊȉȅȂǹȉǾ ǹĭȊīȇǹȃȈǾ ȌȊȄǾ ǹȃǼȂǿȈȉǾȇǹȈ ĬǼȇȂǹȃȈǾ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ,RQ)LOWHUĭȓȜĲȡȠȚȩȞĲȦȞ

ǼȝĳĮȞȓȗİĲĮȚʌĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ,21)LOWHU

ȆĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ,21)LOWHUȖȚĮȞĮİȟĮĳĮȞȚıĲİȓ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢ

ǼȝĳĮȞȓȗİȚĲȚȢĲȡİȚȢȜİȚĲȠȣȡȖȓİȢȪʌȞȠȣȝİĲȘȞʌĮȡĮțȐĲȦ

ıİȚȡȐȩĲĮȞİʌȚȜȑȖİĲĮȚȘȜİȚĲȠȣȡȖȓĮ6OHHSǶʌȞȠȢ

ʌĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ6OHHS

ǻǿǹȀȅȆǾ

ǲȞįİȚȟȘȠȡȚȗȩȞĲȚĮȢʌĮȜȚȞįȡȩȝȘıȘȢ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚȘȜİȚĲȠȣȡȖȓĮ+RUL]RQWDO

6ZLQJȅȡȚȗȩȞĲȚĮʌĮȜȚȞįȡȩȝȘıȘ

ǲȞįİȚȟȘțĮĲȐıĲĮıȘȢİȞįİȚțĲȚțȫȞȜȣȤȞȚȫȞ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİȓȞĮȚİȞİȡȖȠʌȠȚȘȝȑȞİȢȠȚİȞįİȚțĲȚțȑȢ

ȜȣȤȞȓİȢĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ǾțĮȞȠȞȚțȒțĮĲȐıĲĮıȘțĮĲȐĲȘȞȑȞĮȡȟȘİȓȞĮȚȞĮİȓȞĮȚ

İȞİȡȖȠʌȠȚȘȝȑȞİȢ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ;)DQǹȞİȝȚıĲȒȡĮȢȋ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİȞİȡȖȠʌȠȚİȓĲĮȚȘȜİȚĲȠȣȡȖȓĮ;)DQ

ǹȞİȝȚıĲȒȡĮȢȋ

ǲȞįİȚȟȘșȑȡȝĮȞıȘȢ&

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞʌĮĲȘșȠȪȞĲĮȣĲȩȤȡȠȞĮĲĮ

ʌȜȒțĲȡĮ,21)LOWHUțĮȚ&ORFNȖȚĮĲȘȝİĲȐȕĮıȘıİ

ȜİȚĲȠȣȡȖȓĮȤĮȝȘȜȒȢșİȡȝȩĲȘĲĮȢıĲȘȜİȚĲȠȣȡȖȓĮ+($7

ĬǼȇȂǹȃȈǾ

ǲȞįİȚȟȘțȜİȚįȫȝĮĲȠȢĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚțȜİȚįȦȝȑȞȠ

ǲȞįİȚȟȘțȐșİĲȘȢʌĮȜȚȞįȡȩȝȘıȘȢ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚȘȜİȚĲȠȣȡȖȓĮ9HUWLFDO6ZLQJ

ȀȐșİĲȘʌĮȜȚȞįȡȩȝȘıȘ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ,)HHOǹȓıșȘıȘ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİȞİȡȖȠʌȠȚİȓĲĮȚȘȜİȚĲȠȣȡȖȓĮ,)HHO

ǹȓıșȘıȘ

ǲȞįİȚȟȘ7LPHU2Q2II

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚȘ

ȜİȚĲȠȣȡȖȓĮ7LPHU2QȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚ

ȘȜİȚĲȠȣȡȖȓĮ7LPHU2IIȋȡȠȞȠįȚĮțȩʌĲȘȢ

ĮʌİȞİȡȖȠʌȠȓȘıȘȢ

ǲȞįİȚȟȘȫȡĮȢ

ǼȝĳĮȞȓȗİȚĲȘȞȫȡĮĲȠȣȡȠȜȠȖȚȠȪʌȡȑʌİȚȞĮ

ȑȤİȚȡȣșȝȚıĲİȓȒțĮȚĲȘȞȫȡĮİȞİȡȖȠʌȠȓȘıȘȢ

ĮʌİȞİȡȖȠʌȠȓȘıȘȢĲȠȣȤȡȠȞȠįȚĮțȩʌĲȘ

ǲȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢ

ǼȝĳĮȞȓȗİȚĲȘȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮıİ&Ȓ)

ǲȞįİȚȟȘȝİĲȐįȠıȘȢ

ǼȝĳĮȞȓȗİĲĮȚȖȚĮįİȣĲİȡȩȜİʌĲȠȩĲĮȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȝİĲĮįȓįİȚıȒȝĮĲĮıĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ4XLHWǹșȩȡȣȕȠ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚȘȜİȚĲȠȣȡȖȓĮ4XLHW

ǹșȩȡȣȕȠ

ǲȞįİȚȟȘȜİȚĲȠȣȡȖȓĮȢ7XUERȉȠȪȡȝʌȠ

ǼȝĳĮȞȓȗİĲĮȚȩĲĮȞİʌȚȜȑȖİĲĮȚȘȜİȚĲȠȣȡȖȓĮ7XUER

ȉȠȪȡȝʌȠ

ǲȞįİȚȟȘĲĮȤȪĲȘĲĮȢĮȞİȝȚıĲȒȡĮ

ǼȝĳĮȞȓȗİȚĲȘȞİʌȚȜİȖȝȑȞȘĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮȝİĲȘȞ

ʌĮȡĮțȐĲȦıİȚȡȐ

ȈĲȘȞǹȣĲȩȝĮĲȘĲĮȤȪĲȘĲĮȝȩȞȠĲȠıȪȝȕȠȜȠ 

İȝĳĮȞȓȗİĲĮȚ

ǲȞįİȚȟȘ0RGHȁİȚĲȠȣȡȖȓĮ

ǼȝĳĮȞȓȗİȚĲȠȞĲȡȑȤȠȞĲĮĲȡȩʌȠȜİȚĲȠȣȡȖȓĮȢȝİĲȘȞ

ʌĮȡĮțȐĲȦıİȚȡȐ

ȆȜȒțĲȡȠ7LPHU2II

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮȝİĲĮȕİȓĲİ

ıĲȘȡȪșȝȚıȘĲȘȢȜİȚĲȠȣȡȖȓĮȢ7LPHU2II

ȋȡȠȞȠįȚĮțȩʌĲȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢȉȠıȪȝȕȠȜȠ

șĮĮȞĮȕȠıȕȒȞİȚǾȝȑșȠįȠȢȡȪșȝȚıȘȢ

İȓȞĮȚȓįȚĮȝİĮȣĲȒȞȖȚĮĲȘȜİȚĲȠȣȡȖȓĮ7LPHU2Q

ȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

ǾʌȡȠİʌȚȜİȖȝȑȞȘȫȡĮȖȚĮĲȠȞȤȡȠȞȠįȚĮțȩʌĲȘ

ĮʌİȞİȡȖȠʌȠȓȘıȘȢİȓȞĮȚ30

64

ȆȡȫĲȘȤȡȒıȘ

ȈİʌİȡȓʌĲȦıȘįȚĮțȠʌȒȢȡİȪȝĮĲȠȢȒĮʌİȞİȡȖȠʌȠȓȘıȘȢ

ĲȠȣʌȡȠȧȩȞĲȠȢȜȩȖȦĮĳĮȓȡİıȘȢĲȠȣțĮȜȦįȓȠȣ

ĲȡȠĳȠįȠıȓĮȢȒĮțȩȝĮțĮȚțĮĲȐĲȘȞĮȜȜĮȖȒĲȦȞ

ȝʌĮĲĮȡȚȫȞıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȠȝȚțȡȠİʌİȟİȡȖĮıĲȒȢ

İʌȚıĲȡȑĳİȚıĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾ

ǹȣĲȩȝĮĲȘȜİȚĲȠȣȡȖȓĮ

ȆȫȢȞĮȤȡȘıȚȝȠʌȠȚİȓĲİĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠ

ȈĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾȘ

șİȡȝȠțȡĮıȓĮįİȞȝʌȠȡİȓȞĮȡȣșȝȚıĲİȓ

ǹȞİȝȚıĲȒȡĮȢ

ȌȪȟȘ

ȌȪȟȘ

ȋȡȩȞȠȢ

ȇȣșȝȚıȝȑȞȘșİȡȝ

ȁİȚĲȠȣȡȖȓĮĮĳȪȖȡĮȞıȘȢ

 ǺİȕĮȚȦșİȓĲİȩĲȚȘȝȠȞȐįĮİȓȞĮȚıȣȞįİįİȝȑȞȘțĮȚ

ȣʌȐȡȤİȚįȚĮșȑıȚȝȘȘȜİțĲȡȚțȒĲȡȠĳȠįȠıȓĮ

 ǺİȕĮȚȦșİȓĲİȩĲȚȑȤİĲİĲȠʌȠșİĲȒıİȚıȦıĲȐĲȚȢ

ȝʌĮĲĮȡȓİȢıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȠȚİȞįİȚțĲȚțȑȢȜȣȤȞȓİȢ

ıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚĮȞĮȝȝȑȞİȢ

 ȇȣșȝȓıĲİĲȘȞȫȡĮȝİĲĮʌȜȒțĲȡĮȡȪșȝȚıȘȢțĮȚ

İʌȚȕİȕĮȚȫıĲİʌĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ&ORFN

 ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮțĮȚʌĮĲȒıĲİĲȠʌȜȒțĲȡȠ212))ȖȚĮȞĮ

İȞİȡȖȠʌȠȚȘșİȓȘȝȠȞȐįĮ

ȅʌȡȠİʌȚȜİȖȝȑȞȠȢĲȡȩʌȠȢȜİȚĲȠȣȡȖȓĮȢİȓȞĮȚ$872

ǹȊȉȅȂǹȉǾȂȩȜȚȢİʌȚȜȑȟİĲİĲȠȞĲȡȩʌȠȜİȚĲȠȣȡȖȓĮȢ

ȝİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȠȚıȣȞșȒțİȢȜİȚĲȠȣȡȖȓĮȢ

ĮʌȠșȘțİȪȠȞĲĮȚıĲȘȝȞȒȝȘĲȠȣȝȚțȡȠİʌİȟİȡȖĮıĲȒ

ĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢȉȘȞİʌȩȝİȞȘĳȠȡȐĲȠ

țȜȚȝĮĲȚıĲȚțȩșĮȟİțȚȞȒıİȚȞĮȜİȚĲȠȣȡȖİȓȣʌȩĲȚȢȓįȚİȢ

ıȣȞșȒțİȢȩĲĮȞĮʌȜȐʌĮĲȒıİĲİĲȠʌȜȒțĲȡȠ212))

ĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ǼȐȞįİȞıĮȢȕȠȜİȪİȚȘȜİȚĲȠȣȡȖȓĮ$872

ǹȊȉȅȂǹȉǾȝʌȠȡİȓĲİȞĮİʌȚȜȑȟİĲİȝİȝȘĮȣĲȩȝĮĲȠ

ĲȡȩʌȠĲȚȢİʌȚșȣȝȘĲȑȢıȣȞșȒțİȢ

ǵĲĮȞȑȤİȚİʌȚȜİȖİȓȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾ

ĲȠțȜȚȝĮĲȚıĲȚțȩșĮİʌȚȜȑȟİȚĮȣĲȩȝĮĲĮĲȘȜİȚĲȠȣȡȖȓĮ

&22/ȌȊȄǾ+($7ĬǼȇȂǹȃȈǾİȐȞįȚĮĲȓșİĲĮȚ

ȒȝȩȞȠ)$1ǹȃǼȂǿȈȉǾȇǹȈĮȞȐȜȠȖĮȝİĲȘ

ȡȣșȝȚıȝȑȞȘșİȡȝȠțȡĮıȓĮȒțĮȚĲȘșİȡȝȠțȡĮıȓĮ

įȦȝĮĲȓȠȣ

ǲȞĮȡȟȘ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİ

ĲȠțȜȚȝĮĲȚıĲȚțȩǹȞȐȕİȚȘȑȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢ

ıĲȘȞȠșȩȞȘĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ȆȜȒțĲȡȠ0RGH

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİ$872ǹȊȉȅȂǹȉǾ

ȉİȡȝĮĲȚıȝȩȢ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİʌȐȜȚĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩǾȠȡȚȗȩȞĲȚĮ

ʌİȡıȓįĮİʌȚıĲȡȑĳİȚıĲȘșȑıȘĲȘȢțĮĲȐĲȘȞ

ĮʌİȞİȡȖȠʌȠȓȘıȘ

ǾȜİȚĲȠȣȡȖȓĮ'(+80,',)<ǹĭȊīȇǹȃȈǾȕĮıȓȗİĲĮȚ

ıĲȘįȚĮĳȠȡȐȝİĲĮȟȪĲȘȢȡȣșȝȚıȝȑȞȘȢșİȡȝȠțȡĮıȓĮȢ

țĮȚĲȘȢʌȡĮȖȝĮĲȚțȒȢșİȡȝȠțȡĮıȓĮȢįȦȝĮĲȓȠȣ

ǾșİȡȝȠțȡĮıȓĮȡȣșȝȓȗİĲĮȚțĮĲȐĲȘȞĮĳȪȖȡĮȞıȘȝȑıȦ

ĲȘȢİʌĮȞİȚȜȘȝȝȑȞȘȢİȞİȡȖȠʌȠȓȘıȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢ

ĲȘȢȜİȚĲȠȣȡȖȓĮȢ&22/ȌȊȄǾȒȝȩȞȠ)$1

ǹȃǼȂǿȈȉǾȇǹȈ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

ȁİȚĲȠȣȡȖȓĮĮĳȪȖȡĮȞıȘȢ

65

 ȈĲȘȜİȚĲȠȣȡȖȓĮ'(+80,',)<ǹĭȊīȇǹȃȈǾ

ȘĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮİȓȞĮȚȡȣșȝȚıȝȑȞȘıĲȘ

ȋĮȝȘȜȒĲĮȤȪĲȘĲĮțĮȚȘȜİȚĲȠȣȡȖȓĮ7XUERįİȞ

ȝʌȠȡİȓȞĮȤȡȘıȚȝȠʌȠȚȘșİȓ

 ȈĲȘȜİȚĲȠȣȡȖȓĮ'(+80,',)<ǹĭȊīȇǹȃȈǾ

įİȞİȓȞĮȚįȣȞĮĲȒȘİȞİȡȖȠʌȠȓȘıȘĲȘȢ

ȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢțĮȚĲȘȢ

ȜİȚĲȠȣȡȖȓĮȢ6OHHSǶʌȞȠȢ

ȁİȚĲȠȣȡȖȓĮĮȞİȝȚıĲȒȡĮ

 ȈĲȠȞĲȡȩʌȠȜİȚĲȠȣȡȖȓĮȢ)$1

ǹȃǼȂǿȈȉǾȇǹȈȘșİȡȝȠțȡĮıȓĮįİȞȝʌȠȡİȓ

ȞĮȡȣșȝȚıĲİȓĮʌȩĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

 ǻİȞİȝĳĮȞȓȗİĲĮȚțĮȝȓĮȑȞįİȚȟȘĲĮȤȪĲȘĲĮȢıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȐȞȑȤİȚİʌȚȜİȖİȓȘĮȣĲȩȝĮĲȘ

ĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ǲȞĮȡȟȘ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ǹȞȐȕİȚȘȑȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢıĲȘȞȠșȩȞȘĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ȆȜȒțĲȡȠ0RGH

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİ'(+80,',)<ǹĭȊīȇǹȃȈǾ

 ȆȜȒțĲȡĮȡȪșȝȚıȘȢ

ȇȣșȝȓıĲİĲȘșİȡȝȠțȡĮıȓĮʌȠȣİʌȚșȣȝİȓĲİ

ȈȣȞȒșȦȢȡȣșȝȓȗİĲĮȚȝİĲĮȟȪ&țĮȚ&

ȉİȡȝĮĲȚıȝȩȢ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİʌȐȜȚĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮĮʌİȞİȡȖȠʌȠȚȒıİĲİ

ĲȠțȜȚȝĮĲȚıĲȚțȩǾȠȡȚȗȩȞĲȚĮʌİȡıȓįĮİʌȚıĲȡȑĳİȚıĲȘșȑıȘ

ĲȘȢțĮĲȐĲȘȞĮʌİȞİȡȖȠʌȠȓȘıȘ

ȉİȡȝĮĲȚıȝȩȢ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİʌȐȜȚĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩǾȠȡȚȗȩȞĲȚĮ

ʌİȡıȓįĮİʌȚıĲȡȑĳİȚıĲȘșȑıȘĲȘȢțĮĲȐĲȘȞ

ĮʌİȞİȡȖȠʌȠȓȘıȘ

ǵĲĮȞİʌȚȜȑȖİĲİĲȠȞĲȡȩʌȠȜİȚĲȠȣȡȖȓĮȢ)$1ǹȃǼȂǿȈȉǾȇǹȈ

ĲȠțȜȚȝĮĲȚıĲȚțȩĮʌȜȐțȣțȜȠĳȠȡİȓĲȠȞİıȦĲİȡȚțȩĮȑȡĮ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩ

ǹȞȐȕİȚȘȑȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢıĲȘȞȠșȩȞȘĲȘȢ

İıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ȆȜȒțĲȡȠ0RGH

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİ)$1ǹȃǼȂǿȈȉǾȇǹȈ

 ȆȜȒțĲȡȠ)DQ

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘȞİʌȚșȣȝȘĲȒĲĮȤȪĲȘĲĮ

ĮȞİȝȚıĲȒȡĮǹȣĲȩȝĮĲȘȋĮȝȘȜȒȂİıĮȓĮțĮȚȊȥȘȜȒ

ǾʌȡȠİʌȚȜİȖȝȑȞȘĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮİȓȞĮȚȘǹȣĲȩȝĮĲȘ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

66

ȁİȚĲȠȣȡȖȓĮȥȪȟȘȢțĮȚșȑȡȝĮȞıȘȢ

ǲȞĮȡȟȘ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮİȞİȡȖȠʌȠȚȒıİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩ

ǹȞȐȕİȚȘȑȞįİȚȟȘșİȡȝȠțȡĮıȓĮȢıĲȘȞȠșȩȞȘĲȘȢ

İıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

 ȆȜȒțĲȡȠ0RGH

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘȜİȚĲȠȣȡȖȓĮ&22/

ȌȊȄǾȒ+($7ĬǼȇȂǹȃȈǾȝȩȞȠıĲȠȝȠȞĲȑȜȠ

ĮȞĲȜȓĮȢșİȡȝȩĲȘĲĮȢ

 ȆȜȒțĲȡĮȡȪșȝȚıȘȢ

ȇȣșȝȓıĲİĲȘșİȡȝȠțȡĮıȓĮʌȠȣİʌȚșȣȝİȓĲİ

ȈȣȞȒșȦȢȡȣșȝȓȗİĲĮȚȝİĲĮȟȪ&țĮȚ&

 ȆȜȒțĲȡȠ)DQ

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘȞİʌȚșȣȝȘĲȒĲĮȤȪĲȘĲĮ

ĮȞİȝȚıĲȒȡĮǹȣĲȩȝĮĲȘȋĮȝȘȜȒȂİıĮȓĮȤĮȝȘȜȒ

ȂİıĮȓĮȂİıĮȓĮȣȥȘȜȒțĮȚȊȥȘȜȒ

ǾʌȡȠİʌȚȜİȖȝȑȞȘĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮİȓȞĮȚȘ

ǹȣĲȩȝĮĲȘ

 ȆȜȒțĲȡĮ6ZLQJ9țĮȚ6ZLQJ+

ȆĮĲȒıĲİĲȠȖȚĮȞĮİʌȚȜȑȟİĲİĲȘȞțĮĲİȪșȣȞıȘĲȘȢ

ȡȠȒȢĮȑȡĮ

ȉİȡȝĮĲȚıȝȩȢ

 ȆȜȒțĲȡȠ212))

ȆĮĲȒıĲİʌȐȜȚĮȣĲȩĲȠʌȜȒțĲȡȠȖȚĮȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩǾȠȡȚȗȩȞĲȚĮ

ʌİȡıȓįĮİʌȚıĲȡȑĳİȚıĲȘșȑıȘĲȘȢțĮĲȐĲȘȞ

ĮʌİȞİȡȖȠʌȠȓȘıȘ

ǻİȞİȝĳĮȞȓȗİĲĮȚțĮȝȓĮȑȞįİȚȟȘĲĮȤȪĲȘĲĮȢıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȐȞȑȤİȚİʌȚȜİȖİȓȘĮȣĲȩȝĮĲȘ

ĲĮȤȪĲȘĲĮĮȞİȝȚıĲȒȡĮ

ȇȣșȝȓıİȚȢĲȠȣȤȡȠȞȠįȚĮțȩʌĲȘ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘ

İȞİȡȖȠʌȠȓȘıȘȢ

 ȆĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ7LPHU2QȘȑȞįİȚȟȘ

ĮȞĮȕȠıȕȒȞİȚıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȣıİʌİȡȓʌĲȦıȘʌȠȣ

İȓȞĮȚȘʌȡȫĲȘĳȠȡȐʌȠȣȤȡȘıȚȝȠʌȠȚİȓĲİ

ĲȘȜİȚĲȠȣȡȖȓĮ7LPHU2QȋȡȠȞȠįȚĮțȩʌĲȘȢ

İȞİȡȖȠʌȠȓȘıȘȢǻȚĮĳȠȡİĲȚțȐĮȞĮȕȠıȕȒȞİȚȘ

ĲİȜİȣĲĮȓĮȡȣșȝȚıȝȑȞȘȫȡĮ

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢ

ǼȝʌȡȩȢ ȆȓıȦ

ȀȐșİĳȠȡȐʌȠȣʌĮĲȐĲİĲĮʌȜȒțĲȡĮȘȫȡĮ

ĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚțĮĲȐȜİʌĲȩ

ȀȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞȠĲȠĮȞĲȓıĲȠȚȤȠʌȜȒțĲȡȠ

ȘȫȡĮĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚʌȚȠȖȡȒȖȠȡĮ

 ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮțĮȚİʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮ

ʌĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ7LPHU2Q

ȉȠıȪȝȕȠȜȠ#ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠ

ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ǹțȪȡȦıȘĲȦȞȡȣșȝȓıİȦȞ

ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮțĮȚʌĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU

2QǺİȕĮȚȦșİȓĲİȩĲȚĲȠıȪȝȕȠȜȠ

ıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȑȤİȚıȕȒıİȚ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘ

ĮʌİȞİȡȖȠʌȠȓȘıȘȢ

 ȆĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ7LPHU2IIȘȑȞįİȚȟȘ

ȖȚĮĲȘȞʌȡȫĲȘȤȡȒıȘȒȘ

ĲİȜİȣĲĮȓĮȡȣșȝȚıȝȑȞȘȫȡĮĮȞĮȕȠıȕȒȞİȚıĲȘȞ

ȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȒȡȚȠȣ

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢ

ǼȝʌȡȩȢ ȆȓıȦ

ȀȐșİĳȠȡȐʌȠȣʌĮĲȐĲİĲĮʌȜȒțĲȡĮȘȫȡĮ

ĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚțĮĲȐȜİʌĲȩ

ȀȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞȠĲȠĮȞĲȓıĲȠȚȤȠʌȜȒțĲȡȠ

ȘȫȡĮĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚʌȚȠȖȡȒȖȠȡĮ

 ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮțĮȚİʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮ

ʌĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ7LPHU2II

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ











67

ȆĮȡȐįİȚȖȝĮǼȓȞĮȚȂȂțĮȚșȑȜİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩȞĮĮʌİȞİȡȖȠʌȠȚȘșİȓıĲȚȢȆȂ

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2II

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓ

ȘȑȞįİȚȟȘ30ıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2II

ȉȠıȪȝȕȠȜȠ#ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠ

ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȈȣȞįȣĮıĲȚțȩȢȤȡȠȞȠįȚĮțȩʌĲȘȢ

ȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ



ȋȡȠȞȠįȚĮțȩʌĲȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢ

ǹʌİȞİȡȖȠʌȠȓȘıȘǲȞĮȡȟȘȉİȡȝĮĲȚıȝȩȢ

ȜİȚĲȠȣȡȖȓĮȢ

ǾȜİȚĲȠȣȡȖȓĮĮȣĲȒıȣȞȚıĲȐĲĮȚȩĲĮȞșȑȜİĲİȞĮ

İȞİȡȖȠʌȠȚȘșİȓĲȠțȜȚȝĮĲȚıĲȚțȩʌȡȚȞȟȣʌȞȒıİĲİțĮȚ

ȞĮĮʌİȞİȡȖȠʌȠȚȘșİȓĮĳȠȪĳȪȖİĲİĮʌȩĲȠıʌȓĲȚ

ȆĮȡȐįİȚȖȝĮǼȓȞĮȚȂȂțĮȚșȑȜİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩȞĮĮȡȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıĲȚȢ

ȆȂțĮȚȞĮıĲĮȝĮĲȒıİȚıĲȚȢȆȂ

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2Q

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓ

ȘȑȞįİȚȟȘ$0ıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2Q

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2II

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓ

ȘȑȞįİȚȟȘ$0ıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ȅȤȡȩȞȠȢȜİȚĲȠȣȡȖȓĮȢĲȘȢȜİȚĲȠȣȡȖȓĮȢȤȡȠȞȠįȚĮțȩʌĲȘ

ʌȠȣȡȣșȝȓȗİĲĮȚĮʌȩĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȟĮȡĲȐĲĮȚ

ĮʌȩĲȘȞȫȡĮĲȠȣȡȠȜȠȖȚȠȪǼȜȑȖȟĲİȩĲȚĲȠȡȠȜȩȚ

ıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȑȤİȚȡȣșȝȚıĲİȓıȦıĲȐȖȚĮĲȘȞ

ĮʌȠĳȣȖȒįȣıȜİȚĲȠȣȡȖȓĮȢ

 ȅȠȣıȚĮıĲȚțȩȢȤȡȩȞȠȢȜİȚĲȠȣȡȖȓĮȢʌȠȣȡȣșȝȓȗİĲĮȚ

ĮʌȩĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌİȡȚȠȡȓȗİĲĮȚıĲȚȢȫȡİȢ

ȆĮȡĮįİȓȖȝĮĲĮȡȣșȝȓıİȦȞ

ȤȡȠȞȠįȚĮțȩʌĲȘ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘİȞİȡȖȠʌȠȓȘıȘȢ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘȑȞĮȡȟȘȢ

ǾȜİȚĲȠȣȡȖȓĮĮȣĲȒıȣȞȚıĲȐĲĮȚȩĲĮȞșȑȜİĲİ

ȘȝȠȞȐįĮȞĮİȞİȡȖȠʌȠȚȘșİȓĮȣĲȩȝĮĲĮʌȡȚȞ

İʌȚıĲȡȑȥİĲİıĲȠıʌȓĲȚȉȠțȜȚȝĮĲȚıĲȚțȩșĮĮȡȤȓıİȚ

ȞĮȜİȚĲȠȣȡȖİȓĮȣĲȩȝĮĲĮĲȘȡȣșȝȚıȝȑȞȘȫȡĮ

ȆĮȡȐįİȚȖȝĮǼȓȞĮȚȆȂțĮȚșȑȜİĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ȞĮĮȡȤȓıİȚȞĮȜİȚĲȠȣȡȖİȓıĲȚȢȂȂ

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2Q

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓ

ȘȑȞįİȚȟȘ30ıĲȘȞȠșȩȞȘĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2Q

ȉȠıȪȝȕȠȜȠ#ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠıĲȘȞ

ȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘĮʌİȞİȡȖȠʌȠȓȘıȘȢ

ȁİȚĲȠȣȡȖȓĮȤȡȠȞȠįȚĮțȩʌĲȘĲİȡȝĮĲȚıȝȠȪ

ǾȜİȚĲȠȣȡȖȓĮĮȣĲȒıȣȞȚıĲȐĲĮȚȩĲĮȞșȑȜİĲİȘ

ȝȠȞȐįĮȞĮĮʌİȞİȡȖȠʌȠȚȘșİȓĮȣĲȩȝĮĲĮȖȚĮĲȘȞ

ȫȡĮȪʌȞȠȣȉȠțȜȚȝĮĲȚıĲȚțȩșĮıĲĮȝĮĲȒıİȚȞĮ

ȜİȚĲȠȣȡȖİȓĮȣĲȩȝĮĲĮĲȘȡȣșȝȚıȝȑȞȘȫȡĮ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

ȉȠıȪȝȕȠȜȠ#ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠ

ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ǹțȪȡȦıȘĲȦȞȡȣșȝȓıİȦȞ

ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮțĮȚʌĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2II

ǺİȕĮȚȦșİȓĲİȩĲȚĲȠıȪȝȕȠȜȠ



ıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȑȤİȚıȕȒıİȚ

68

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2II

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠțĮȚȘȜİȚĲȠȣȡȖȓĮİȞİȡȖȠʌȠȚİȓĲĮȚ

ȋȡȠȞȠįȚĮțȩʌĲȘȢĮʌİȞİȡȖȠʌȠȓȘıȘȢ



ȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

ǼȞİȡȖȠʌȠȓȘıȘȉİȡȝĮĲȚıȝȩȢǲȞĮȡȟȘȜİȚĲȠȣȡȖȓĮȢ

ǾȜİȚĲȠȣȡȖȓĮĮȣĲȒıȣȞȚıĲȐĲĮȚȩĲĮȞșȑȜİĲİȞĮ

ĮʌİȞİȡȖȠʌȠȚȘșİȓĲȠțȜȚȝĮĲȚıĲȚțȩĮĳȠȪʌȐĲİȖȚĮ

ȪʌȞȠțĮȚȞĮİȞİȡȖȠʌȠȚȘșİȓʌȐȜȚʌȡȚȞȟȣʌȞȒıİĲİĲȠ

ʌȡȦȓȒİʌȚıĲȡȑȥİĲİıĲȠıʌȓĲȚ

ȆĮȡȐįİȚȖȝĮǼȓȞĮȚȆȂțĮȚșȑȜİĲİĲȠ

țȜȚȝĮĲȚıĲȚțȩȞĮıĲĮȝĮĲȒıİȚȞĮȜİȚĲȠȣȡȖİȓıĲȚȢ

ȆȂțĮȚȞĮȟİțȚȞȒıİȚʌȐȜȚıĲȚȢȂȂ

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2II

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓȘȑȞįİȚȟȘ

$0ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2II

 ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ7LPHU2Q

 ȇȣșȝȓıĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȫȞĲĮȢ

İʌĮȞİȚȜȘȝȝȑȞĮȒțȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞĮĲĮ

ʌȜȒțĲȡĮȡȪșȝȚıȘȢȑȦȢȩĲȠȣİȝĳĮȞȚıĲİȓȘȑȞįİȚȟȘ

30ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǼʌȚȕİȕĮȚȫıĲİĲȘȡȣșȝȚıȝȑȞȘȫȡĮıĲȡȑĳȠȞĲĮȢ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȫȞĲĮȢʌȐȜȚĲȠʌȜȒțĲȡȠ7LPHU2Q

ȉȠıȪȝȕȠȜȠ#İȝĳĮȞȓȗİĲĮȚıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠțĮȚȘȜİȚĲȠȣȡȖȓĮİȞİȡȖȠʌȠȚİȓĲĮȚ

ȇȪșȝȚıȘĲȠȣȡȠȜȠȖȚȠȪ

ȆȡȚȞĮȡȤȓıİĲİȞĮȜİȚĲȠȣȡȖİȓĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ȡȣșȝȓıĲİĲȠȡȠȜȩȚĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ĮțȠȜȠȣșȫȞĲĮȢĲȘįȚĮįȚțĮıȓĮʌȠȣĮȞĮĳȑȡİĲĮȚ

ıİĮȣĲȒĲȘȞİȞȩĲȘĲĮǾȠșȩȞȘȡȠȜȠȖȚȠȪıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȝĳĮȞȓȗİȚĲȘȞȫȡĮĮȞİȟȐȡĲȘĲĮ

ĮʌȩĲȠĮȞȜİȚĲȠȣȡȖİȓĲȠțȜȚȝĮĲȚıĲȚțȩ

ǹĳȠȪĲȠʌȠșİĲȒıİĲİĲȚȢȝʌĮĲĮȡȓİȢıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȘȑȞįİȚȟȘ

İȝĳĮȞȓȗİĲĮȚ

țĮȚĮȡȤȓȗİȚȞĮĮȞĮȕȠıȕȒȞİȚ

 ȆȜȒțĲȡĮȡȪșȝȚıȘȢ

ȆĮĲȒıĲİĲĮʌȜȒțĲȡĮȡȪșȝȚıȘȢȖȚĮȞĮ

ȡȣșȝȓıİĲİĲȘȞİʌȚșȣȝȘĲȒȫȡĮ

 ǼȝʌȡȩȢ

 ȆȓıȦ

ȀȐșİĳȠȡȐʌȠȣʌĮĲȐĲİĲĮʌȜȒțĲȡĮȘȫȡĮ

ĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚțĮĲȐȜİʌĲȩ

ȀȡĮĲȫȞĲĮȢʌĮĲȘȝȑȞȠĲȠĮȞĲȓıĲȠȚȤȠʌȜȒțĲȡȠȘ

ȫȡĮĮȣȟȐȞİĲĮȚȒȝİȚȫȞİĲĮȚʌȚȠȖȡȒȖȠȡĮ

 ȆȜȒțĲȡȠ&ORFN

ǵĲĮȞĳĲȐıİĲİıĲȘȞİʌȚșȣȝȘĲȒȫȡĮʌĮĲȒıĲİ

ʌȐȜȚĲȠʌȜȒțĲȡȠ&ORFNįȚĮĳȠȡİĲȚțȐȝİĲȐĮʌȩ

įİȣĲİȡȩȜİʌĲĮȤȦȡȓȢțĮȝȓĮİȞȑȡȖİȚĮȘȫȡĮ

ĲȠȣȡȠȜȠȖȚȠȪıĲĮȝĮĲȐİȚȞĮĮȞĮȕȠıȕȒȞİȚțĮȚ

ȡȣșȝȓȗİĲĮȚĲȠȡȠȜȩȚ





69

ȆȫȢȞĮȤȡȘıȚȝȠʌȠȚİȓĲİĲȘȞ

İıȦĲİȡȚțȒȝȠȞȐįĮ

ȆȡȩıșİĲİȢİʌȚȜȠȖȑȢ

ǲȜİȖȤȠȢțĮĲİȪșȣȞıȘȢȡȠȒȢĮȑȡĮ

 ȁİȚĲȠȣȡȖȓĮȑȟȣʌȞȘȢİʌĮȞİțțȓȞȘıȘȢ

ȉȠțȜȚȝĮĲȚıĲȚțȩİʌĮȞȑȡȤİĲĮȚĮȣĲȩȝĮĲĮıĲȚȢ

ʌȡȠȘȖȠȪȝİȞİȢȡȣșȝȓıİȚȢȝİĲȐĮʌȩʌȚșĮȞȒįȚĮțȠʌȒ

ȡİȪȝĮĲȠȢ

 ǹĳĮȚȡȠȪȝİȞȠțȐȜȣȝȝĮ

ȉȠȝʌȡȠıĲȚȞȩțȐȜȣȝȝĮĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢ

ȝʌȠȡİȓȞĮĮĳĮȚȡİșİȓİȪțȠȜĮȖȚĮțĮșĮȡȚıȝȩțĮȚ

ıȣȞĲȒȡȘıȘ

 ǹȣĲȠįȚȐȖȞȦıȘțĮȚĮȣĲȠʌȡȠıĲĮıȓĮ

ȉȠțȜȚȝĮĲȚıĲȚțȩĮȣĲȩȝʌȠȡİȓȞĮĮȞȚȤȞİȪıİȚĲȚȢ

įȣıȜİȚĲȠȣȡȖȓİȢİȝĳĮȞȓȗȠȞĲĮȢĲȘįȚȐȖȞȦıȘıĲȘȞȠșȩȞȘ

ĲȘȢİıȦĲİȡȚțȒȢȝȠȞȐįĮȢȝİȑȞĮȞțȦįȚțȩıĳȐȜȝĮĲȠȢ

ȉȠțȜȚȝĮĲȚıĲȚțȩĮȜȜȐȗİȚĮȣĲȩȝĮĲĮĲȘȜİȚĲȠȣȡȖȓĮȖȚĮ

ĮȣĲȠʌȡȠıĲĮıȓĮ

ȇȣșȝȓıĲİıȦıĲȐĲȘȞțĮĲİȪșȣȞıȘȡȠȒȢĮȑȡĮ

țĮșȫȢȝʌȠȡİȓȞĮʌȡȠțȜȘșİȓȑȜȜİȚȥȘȐȞİıȘȢȒ

ĮȞȠȝȠȚȩȝȠȡĳȘșİȡȝȠțȡĮıȓĮĲȠȣįȦȝĮĲȓȠȣ

ȉȩıȠȘȠȡȚȗȩȞĲȚĮȩıȠțĮȚȘțȐșİĲȘʌİȡıȓįĮȝʌȠȡİȓ

ȞĮȡȣșȝȚıĲİȓȝİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

īȚĮȞĮȡȣșȝȓıİĲİĲȘȞțȐșİĲȘİʌȐȞȦțȐĲȦ

țĮĲİȪșȣȞıȘȡȠȒȢĲȠȣĮȑȡĮĮȣĲȩȝĮĲĮ

 ǼțĲİȜȑıĲİĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮİȞȫȘȝȠȞȐįĮ

ȕȡȓıțİĲĮȚıİȜİȚĲȠȣȡȖȓĮ

 ȆĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ6ZLQJ9ıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȘȠȡȚȗȩȞĲȚĮʌİȡıȓįĮ

ʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮʌȐȞȦțȐĲȦ

 ȅȤȡȠȞȠįȚĮțȩʌĲȘȢȤȡȘıȚȝȠʌȠȚİȓȜİȚĲȠȣȡȖȓĮ

ȡȠȜȠȖȚȠȪȦȡȫȞ

 ǾʌȡȠİʌȚȜİȖȝȑȞȘȫȡĮȖȚĮĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚ

ȂȂțĮȚİʌĮȞȑȡȤİĲĮȚıİĮȣĲȒȞȩĲĮȞĮȜȜȐȗİĲİ

ĲȚȢȝʌĮĲĮȡȓİȢ

 ǾʌȡȠİʌȚȜİȖȝȑȞȘȡȪșȝȚıȘȖȚĮĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚİȞİȡȖȠʌȠȚȘȝȑȞȘȩĲĮȞ

ĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠİȓȞĮȚİȞİȡȖȠʌȠȚȘȝȑȞȠ

 ǻİȞİȓȞĮȚĮʌĮȡĮȓĲȘĲȠȞĮȤȡȘıȚȝȠʌȠȚİȓĲİ

ĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮȩĲĮȞȘʌȠȚȩĲȘĲĮĲȠȣ

ĮȑȡĮıĲȠįȦȝȐĲȚȠİȓȞĮȚțĮȜȒ

 ȀĮșĮȡȓȗİĲİĲȠıȣȜȜȑțĲȘıțȩȞȘȢSODVPDțȐșİ

ĲȡİȚȢȑȦȢȑȟȚȝȒȞİȢĮȞȐȜȠȖĮȝİĲȚȢıȣȞșȒțİȢ

ȁİȚĲȠȣȡȖȓĮ,)HHOǹȓıșȘıȘ

ȁİȚĲȠȣȡȖȓĮ,21)LOWHUĭȓȜĲȡȠȚȩȞĲȦȞ

ȉȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȜİȚĲȠȣȡȖİȓȦȢȑȞĮȢ

ĮʌȠȝĮțȡȣıȝȑȞȠȢșİȡȝȠıĲȐĲȘȢʌĮȡȑȤȠȞĲĮȢĮțȡȚȕȒ

ȑȜİȖȤȠĲȘȢșİȡȝȠțȡĮıȓĮȢțĮȚȝȑȖȚıĲȘȐȞİıȘ

ȈĲȡȑȥĲİĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠʌȡȠȢĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țĮȚʌĮĲȒıĲİĲȠʌȜȒțĲȡȠ,)HHOǹʌȩĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮĮțȠȪȖİĲĮȚȑȞĮȘȤȘĲȚțȩıȒȝĮȝʌȚʌȖȚĮȞĮ

İʌȚȕİȕĮȚȫıİȚȩĲȚȘȜİȚĲȠȣȡȖȓĮȑȤİȚİȞİȡȖȠʌȠȚȘșİȓ

ȉȠıȪȝȕȠȜȠ,)HHOǹȓıșȘıȘ

ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠ

ıĲȘȞȠșȩȞȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣȑȦȢȩĲȠȣʌĮĲȘșİȓ

ʌȐȜȚĲȠʌȜȒțĲȡȠ,)HHO

ȉȠțȜȚȝĮĲȚıĲȚțȩȜİȚĲȠȣȡȖİȓȖȚĮȞĮİʌȚĲȪȤİȚĲȘȡȣșȝȚıȝȑȞȘ

șİȡȝȠțȡĮıȓĮıĲȘșȑıȘĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

ȉȠĲȘȜİȤİȚȡȚıĲȒȡȚȠıĲȑȜȞİȚĲȚȢʌȜȘȡȠĳȠȡȓİȢ

șİȡȝȠțȡĮıȓĮȢĲȘȢșȑıȘȢĲȠȣıĲȘȞİıȦĲİȡȚțȒȝȠȞȐįĮ

țȐșİįȑțĮȜİʌĲȐȉȠțȜȚȝĮĲȚıĲȚțȩĮʌİȞİȡȖȠʌȠȚİȓ

ĲȘȜİȚĲȠȣȡȖȓĮ,)((/ǹȓıșȘıȘțĮȚİʌȚıĲȡȑĳİȚıĲȘȞ

țĮȞȠȞȚțȒȜİȚĲȠȣȡȖȓĮİȐȞįİȞȜȐȕİȚțĮȝȓĮʌȜȘȡȠĳȠȡȓĮ

șİȡȝȠțȡĮıȓĮȢĮʌȩĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȖȚĮȑȞĲİțĮ

įȚĮįȠȤȚțȐȜİʌĲȐ

ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ,21)LOWHUȖȚĮȞĮ

İȞİȡȖȠʌȠȚȒıİĲİĲȚȢȜİȚĲȠȣȡȖȓİȢȥȣȤȡȠȪ

ʌȜȐıȝĮĲȠȢțĮȚıȣȜȜȑțĲȘıțȩȞȘȢSODVPDȉȠ

ıȪȝȕȠȜȠ

ʌĮȡĮȝȑȞİȚĮȞĮȝȝȑȞȠıĲȘȞȠșȩȞȘ

ĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣȑȦȢȩĲȠȣʌĮĲȘșİȓʌȐȜȚĲȠ

ʌȜȒțĲȡȠ,21)LOWHU

ǾȖİȞȞȒĲȡȚĮȥȣȤȡȠȪʌȜȐıȝĮĲȠȢĮʌİȜİȣșİȡȫȞİȚ

ʌȜȐıȝĮʌȠȣȝʌȠȡİȓȞĮȕȠȘșȒıİȚıĲȘȞ

İȟȠȣįİĲȑȡȦıȘȕĮțĲȘȡȓȦȞȚȫȞıțȩȞȘȢțĮȚ

ȐȜȜȦȞİʌȚȕȜĮȕȫȞʌĮȡĮȖȩȞĲȦȞĮʌȩĲȘȞ

ĮĲȝȩıĳĮȚȡĮ

ȅıȣȜȜȑțĲȘȢıțȩȞȘȢSODVPDȝʌȠȡİȓȞĮ

ʌĮȖȚįİȪıİȚįȚȐĳȠȡĮȝȚțȡȠıțȠʌȚțȐıȦȝĮĲȓįȚĮ

ȩʌȦȢıțȩȞȘțĮʌȞȩȢțĮȚȖȪȡȘĮʌȩĲȘȡȠȒĲȠȣ

ĮȑȡĮȫıĲİȞĮįȚĮĲȘȡİȓĲĮȚțĮșĮȡȩȢȠĮȑȡĮȢĲȠȣ

įȦȝĮĲȓȠȣ

ǾȜİȚĲȠȣȡȖȓĮĮȣĲȒıȣȞȚıĲȐĲĮȚȩĲĮȞȘʌȠȚȩĲȘĲĮ

ĲȠȣİıȦĲİȡȚțȠȪĮȑȡĮįİȞİȓȞĮȚțĮȜȒ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

 ǼțȞȑȠȣȡȪșȝȚıȘĲȠȣȡȠȜȠȖȚȠȪ

ȆĮĲȒıĲİĲȠʌȜȒțĲȡȠ&ORFNțĮȚĲȠıȪȝȕȠȜȠ

ȡȠȜȠȖȚȠȪ

șĮĮȡȤȓıİȚȞĮĮȞĮȕȠıȕȒȞİȚ

ǹțȠȜȠȣșȒıĲİĲĮȕȒȝĮĲĮțĮȚȖȚĮȞĮ

ȡȣșȝȓıİĲİĲȘȞȑĮȫȡĮ

70

ȇȠȒĮȑȡĮİʌȐȞȦțĮȚțȐĲȦ

ȀȐșİĲȘʌİȡıȓįĮ

ǼȪȡȠȢ

ȇȠȒĮȑȡĮĮȡȚıĲİȡȐțĮȚįİȟȚȐ

 ȆĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ6ZLQJțĮȚȘʌİȡıȓįĮșĮ

ĮȡȤȓıİȚȞĮʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮʌȐȞȦțĮȚțȐĲȦ

īȚĮȞĮȡȣșȝȓıİĲİĲȘȞțȐșİĲȘİʌȐȞȦțȐĲȦ

țĮĲİȪșȣȞıȘȡȠȒȢĲȠȣĮȑȡĮĮȣĲȩȝĮĲĮ

 ǼțĲİȜȑıĲİĮȣĲȒĲȘȜİȚĲȠȣȡȖȓĮİȞȫȘȝȠȞȐįĮ

ȕȡȓıțİĲĮȚıİȜİȚĲȠȣȡȖȓĮ

 ȆĮĲȫȞĲĮȢĲȠʌȜȒțĲȡȠ6ZLQJ+ıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠȘțȐșİĲȘʌİȡıȓįĮ

ʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮĮȡȚıĲİȡȐțĮȚįİȟȚȐ

 ǵĲĮȞȘʌİȡıȓįĮȝİĲĮțȚȞȘșİȓıĲȘȞİʌȚșȣȝȘĲȒ

țĮĲİȪșȣȞıȘʌĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ6ZLQJ

țĮȚȘʌİȡıȓįĮșĮʌĮȡĮȝİȓȞİȚıĲȘșȑıȘʌȠȣ

İȓȞĮȚ

 ǵĲĮȞȘʌİȡıȓįĮȝİĲĮțȚȞȘșİȓıĲȘȞİʌȚșȣȝȘĲȒ

țĮĲİȪșȣȞıȘʌĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ

6ZLQJ9țĮȚȘʌİȡıȓįĮșĮʌĮȡĮȝİȓȞİȚıĲȘ

șȑıȘʌȠȣİȓȞĮȚ

 ȆĮĲȒıĲİʌȐȜȚĲȠʌȜȒțĲȡȠ6ZLQJ9țĮȚȘ

ʌİȡıȓįĮșĮĮȡȤȓıİȚȞĮʌĮȜȚȞįȡȠȝİȓĮȣĲȩȝĮĲĮ

ʌȐȞȦțĮȚțȐĲȦ

ǼȪȡȠȢ

71

ȁİȚĲȠȣȡȖȓĮȑțĲĮțĲȘȢĮȞȐȖțȘȢ

ȀȠȣȝʌȓȤİȚȡȠțȓȞȘĲȠȣ

İȜȑȖȤȠȣ

ȀȠȣȝʌȓȤİȚȡȠțȓȞȘĲȠȣİȜȑȖȤȠȣ

ĬİȡȝȠțȡĮıȓĮȜİȚĲȠȣȡȖȓĮȢ

 ȆĮĲȒıĲİʌȐȜȚĲȠțȠȣȝʌȓȤİȚȡȠțȓȞȘĲȠȣİȜȑȖȤȠȣȖȚĮȞĮ

ĮʌİȞİȡȖȠʌȠȚȒıİĲİĲȠțȜȚȝĮĲȚıĲȚțȩ

ȅĲȡȩʌȠȢȜİȚĲȠȣȡȖȓĮȢʌĮȡĮĲȓșİĲĮȚıĲȠȞʌĮȡĮțȐĲȦ

ʌȓȞĮțĮ

ȉȠİȪȡȠȢĲȘȢșİȡȝȠțȡĮıȓĮȢȜİȚĲȠȣȡȖȓĮȢİȟȦĲİȡȚțȒ

șİȡȝȠțȡĮıȓĮȖȚĮĲȠȝȠȞĲȑȜȠȝȩȞȠȥȪȟȘȢİȓȞĮȚ

&a&ȖȚĮĲȠȝȠȞĲȑȜȠĮȞĲȜȓĮȢșİȡȝȩĲȘĲĮȢİȓȞĮȚ

&a&

ǼȐȞĲȠțȜȚȝĮĲȚıĲȚțȩȤȡȘıȚȝȠʌȠȚİȓĲĮȚİțĲȩȢĲȦȞ

ʌĮȡĮʌȐȞȦȠȡȓȦȞȝʌȠȡİȓȞĮİȞİȡȖȠʌȠȚȘșȠȪȞ

ȠȡȚıȝȑȞĮȤĮȡĮțĲȘȡȚıĲȚțȐʌȡȠıĲĮıȓĮȢĮıĳĮȜİȓĮȢțĮȚ

ȞĮʌȡȠțĮȜȑıȠȣȞįȣıȜİȚĲȠȣȡȖȓĮĲȘȢȝȠȞȐįĮȢ

ǵĲĮȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȑȤİȚȤĮșİȓȒįİȞȜİȚĲȠȣȡȖİȓ

ȤȡȘıȚȝȠʌȠȚȒıĲİĲȠȤİȚȡȠțȓȞȘĲȠįȚĮțȩʌĲȘıĲȘȞİıȦĲİȡȚțȒ

ȝȠȞȐįĮȉȠțȜȚȝĮĲȚıĲȚțȩșĮȜİȚĲȠȣȡȖȒıİȚıĲȘȜİȚĲȠȣȡȖȓĮ

$872ǹȊȉȅȂǹȉǾțĮȚįİȞİȓȞĮȚįȣȞĮĲȒȘĮȜȜĮȖȒ

ĲȘȢȡȪșȝȚıȘȢĲȘȢșİȡȝȠțȡĮıȓĮȢȒĲȘȢĲĮȤȪĲȘĲĮȢĲȠȣ

ĮȞİȝȚıĲȒȡĮ

 ǹȞȠȓȟĲİĲȠȝʌȡȠıĲȚȞȩțȐȜȣȝȝĮ

 ȆĮĲȒıĲİĲȠțȠȣȝʌȓȤİȚȡȠțȓȞȘĲȠȣİȜȑȖȤȠȣȖȚĮȞĮ

ȝİĲĮȕİȓĲİıĲȘȜİȚĲȠȣȡȖȓĮ$872ǹȊȉȅȂǹȉǾȉȠ

țȜȚȝĮĲȚıĲȚțȩİʌȚȜȑȖİȚĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾ

+($7ĬǼȇȂǹȃȈǾȝȩȞȠıĲȠȝȠȞĲȑȜȠĮȞĲȜȓĮȢ

șİȡȝȩĲȘĲĮȢțĮȚ)$1ǹȃǼȂǿȈȉǾȇǹȈĮȣĲȩȝĮĲĮ

ıȪȝĳȦȞĮȝİĲȘșİȡȝȠțȡĮıȓĮįȦȝĮĲȓȠȣȖȚĮȞĮ

İʌȚĲİȣȤșİȓȘȕȑȜĲȚıĲȘȐȞİıȘ

ȁİȚĲȠȣȡȖȓĮ ȂȠȞĲȑȜȠ ȇȪșȝȚıȘșİȡȝȠțȡĮıȓĮȢ

ȉĮȤȪĲȘĲĮ

ĮȞİȝȚıĲȒȡĮ

$872

ǹȊȉȅȂǹȉǾ

ȌȪȟȘ

&&22/ȌȊȄǾ

)$1ǹȃǼȂǿȈȉǾȇǹȈ

$872

ǹȊȉȅȂǹȉǾ

$872

ǹȊȉȅȂǹȉǾ

ǹȞĲȜȓĮ

șİȡȝȩĲȘĲĮȢ

&&22/ȌȊȄǾ

)$1ǹȃǼȂǿȈȉǾȇǹȈ

$872

ǹȊȉȅȂǹȉǾ

$872

ǹȊȉȅȂǹȉǾ

ǹȞĲȜȓĮ

șİȡȝȩĲȘĲĮȢ

&+($7

ĬǼȇȂǹȃȈǾ

$872

ǹȊȉȅȂǹȉǾ

ȉȠİȪȡȠȢșİȡȝȠțȡĮıȓĮȢȜİȚĲȠȣȡȖȓĮȢİȓȞĮȚȦȢİȟȒȢ





ǼıȦĲİȡȚțȒʌȜİȣȡȐ

ȄǾȇȅȊȊīȇȅȊ

ǺȅȁǺȅȊ&

ǼȟȦĲİȡȚțȒʌȜİȣȡȐ

ȄǾȇȅȊȊīȇȅȊ

ǺȅȁǺȅȊ&

ȂȑȖȚıĲȘȥȪȟȘ  

ǼȜȐȤȚıĲȘȥȪȟȘ  ±

ȂȑȖȚıĲȘșȑȡȝĮȞıȘ ± 

ǼȜȐȤȚıĲȘșȑȡȝĮȞıȘ ± 

 ȉĮʌȜȒțĲȡĮ6ZLQJ9țĮȚ6ZLQJ+ĮʌİȞİȡȖȠʌȠȚȠȪȞĲĮȚ

ȩĲĮȞĲȠțȜȚȝĮĲȚıĲȚțȩİȓȞĮȚĮʌİȞİȡȖȠʌȠȚȘȝȑȞȠ

ĮțȩȝĮțĮȚĮȞȑȤİȚȡȣșȝȚıĲİȓȘȜİȚĲȠȣȡȖȓĮ7LPHU2Q

ȋȡȠȞȠįȚĮțȩʌĲȘȢİȞİȡȖȠʌȠȓȘıȘȢ

 ȂȘȜİȚĲȠȣȡȖİȓĲİĲȠțȜȚȝĮĲȚıĲȚțȩȖȚĮȝİȖȐȜȠȤȡȠȞȚțȩ

įȚȐıĲȘȝĮȝİĲȘȞțĮĲİȪșȣȞıȘȡȠȒȢĮȑȡĮȡȣșȝȚıȝȑȞȘ

ʌȡȠȢĲĮțȐĲȦıĲȘȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾȒ

'(+80,',)<ǹĭȊīȇǹȃȈǾǻȚĮĳȠȡİĲȚțȐȝʌȠȡİȓ

ȞĮįȘȝȚȠȣȡȖȘșİȓıȣȝʌȪțȞȦıȘıĲȘȞİʌȚĳȐȞİȚĮĲȘȢ

ȠȡȚȗȩȞĲȚĮȢʌİȡıȓįĮȢțĮȚȞĮıĲȐȟİȚıĲȠįȐʌİįȠȒıĲĮ

ȑʌȚʌȜĮ

 ȂȘȝİĲĮțȚȞİȓĲİȤİȚȡȠțȓȞȘĲĮĲȘȞȠȡȚȗȩȞĲȚĮțĮȚĲȘȞ

țȐșİĲȘʌİȡıȓįĮȋȡȘıȚȝȠʌȠȚİȓĲİʌȐȞĲĮĲĮʌȜȒțĲȡĮ

6ZLQJ9țĮȚ6ZLQJ+ǾȤİȚȡȠțȓȞȘĲȘȝİĲĮțȓȞȘıȘ

ĲȦȞʌİȡıȓįȦȞȝʌȠȡİȓȞĮʌȡȠțĮȜȑıİȚįȣıȜİȚĲȠȣȡȖȓĮ

țĮĲȐĲȘȜİȚĲȠȣȡȖȓĮǼȐȞʌĮȡȠȣıȚĮıĲİȓįȣıȜİȚĲȠȣȡȖȓĮ

ĲȘȢʌİȡıȓįĮȢĮʌİȞİȡȖȠʌȠȚȒıĲİĲȠțȜȚȝĮĲȚıĲȚțȩțĮȚ

İʌĮȞİțțȚȞȒıĲİĲȠ

 ǾȖȦȞȓĮĮȞȠȓȖȝĮĲȠȢĲȘȢȠȡȚȗȩȞĲȚĮȢʌİȡıȓįĮȢįİȞ

ʌȡȑʌİȚȞĮİȓȞĮȚʌȠȜȪȝȚțȡȒțĮșȫȢȝʌȠȡİȓȞĮȝİȚȦșİȓ

ȘĮʌȩįȠıȘȥȪȟȘȢȒșȑȡȝĮȞıȘȢȜȩȖȦĲȘȢʌȠȜȪ

ʌİȡȚȠȡȚıȝȑȞȘȢʌİȡȚȠȤȒȢȡȠȒȢĲȠȣĮȑȡĮ

 ȂȘȜİȚĲȠȣȡȖİȓĲİĲȠțȜȚȝĮĲȚıĲȚțȩȝİĲȘȞȠȡȚȗȩȞĲȚĮ

ʌİȡıȓįĮıĲȘȞțȜİȚıĲȒșȑıȘ

 ǵĲĮȞĲȠțȜȚȝĮĲȚıĲȚțȩıȣȞįİșİȓıĲȘȞȘȜİțĲȡȚțȒ

ĲȡȠĳȠįȠıȓĮĮȡȤȚțȒȜİȚĲȠȣȡȖȓĮȘȠȡȚȗȩȞĲȚĮʌİȡıȓįĮ

ȝʌȠȡİȓȞĮʌĮȡĮȖȐȖİȚȑȞĮȞȒȤȠȖȚĮįİȣĲİȡȩȜİʌĲĮ

ʌȡȩțİȚĲĮȚȖȚĮĳȣıȚȠȜȠȖȚțȒȜİȚĲȠȣȡȖȓĮ

ʌȡȠıȠȤȒ

72

ȀĮșĮȡȚıȝȩȢțĮȚıȣȞĲȒȡȘıȘ

ȈȣȞĲȒȡȘıȘ

ȉȠʌȠșȑĲȘıȘĮȞĲȚțĮĲȐıĲĮıȘȝʌĮĲĮȡȚȫȞ

ȅȚʌĮȡĮțȐĲȦİȡȖĮıȓİȢıȣȞĲȒȡȘıȘȢʌȡȑʌİȚȞĮ

İțĲİȜȠȪȞĲĮȚĲĮțĲȚțȐ

*



ǾİȡȖĮıȓĮʌȡȑʌİȚȞĮʌȡĮȖȝĮĲȠʌȠȚȘșİȓ

ȝȩȞȠĮʌȩİȟİȚįȚțİȣȝȑȞȠʌȡȠıȦʌȚțȩ

 ǻȚĮțȩȥĲİĲȘȜİȚĲȠȣȡȖȓĮĲȠȣțȜȚȝĮĲȚıĲȚțȠȪ

țĮȚĮʌȠıȣȞįȑıĲİĲȘȞȘȜİțĲȡȚțȒ

ĲȡȠĳȠįȠıȓĮʌȡȚȞĮʌȩĲȠȞțĮșĮȡȚıȝȩ

ǻȚĮĳȠȡİĲȚțȐȝʌȠȡİȓȞĮʌȡȠțȜȘșİȓ

ȘȜİțĲȡȠʌȜȘȟȓĮȒʌȣȡțĮȖȚȐ

ʌȡȠİȚįȠʌȠȓȘıȘ

ȈĲȠȚȤİȓĮ

ǼȡȖĮıȓİȢ

ıȣȞĲȒȡȘıȘȢ

ȈȣȞȚıĲȫȝİȞȘ

ıȣȤȞȩĲȘĲĮ

ĭȓȜĲȡȠıțȩȞȘȢ ȀĮșĮȡȚıȝȩȢ ȀȐșİȝȒȞĮȒʌȚȠ

ıȣȤȞȐİȐȞĮʌĮȚĲİȓĲĮȚ

ȈȣȜȜȑțĲȘȢ

ıțȩȞȘȢ

SODVPD

ȀĮșĮȡȚıȝȩȢ ȀȐșİȝȒȞİȢȒʌȚȠ

ıȣȤȞȐİȐȞĮʌĮȚĲİȓĲĮȚ

ĭȓȜĲȡĮ

ȣȖȚİȚȞȠȪĮȑȡĮ

ǹȞĲȚțĮĲȐıĲĮıȘ

ȒțĮșĮȡȚıȝȩȢ

ȀȐșİȝȒȞİȢȒʌȚȠ

ıȣȤȞȐİȐȞĮʌĮȚĲİȓĲĮȚ

ȆİȡȓȕȜȘȝĮ

ȝȠȞȐįĮȢ

ȀĮșĮȡȚıȝȩȢ ȀȐșİȝȒȞĮȒʌȚȠ

ıȣȤȞȐİȐȞĮʌĮȚĲİȓĲĮȚ

ǻȓıțȠȢȞİȡȠȪ

țĮȚıȦȜȒȞȦıȘ

İțțȑȞȦıȘȢ

ȀĮșĮȡȚıȝȩȢ

țĮȚȑȜİȖȤȠȢȖȚĮ

İȝʌȩįȚĮ

ȀȐșİİʌȠȤȒʌȡȚȞ

ĮʌȩĲȘȞȑȞĮȡȟȘ

ȜİȚĲȠȣȡȖȓĮȢ

ǼıȦĲİȡȚțȑȢ

țĮȚİȟȦĲİȡȚțȑȢ

ıİȡʌĮȞĲȓȞİȢ

ȀĮșĮȡȚıȝȩȢ ȀȐșİİʌȠȤȒʌȡȚȞ

ĮʌȩĲȘȞȑȞĮȡȟȘ

ȜİȚĲȠȣȡȖȓĮȢ

ǺȑȜĲȚıĲȘȜİȚĲȠȣȡȖȓĮ

īȚĮȞĮİʌȚĲİȣȤșİȓȘȕȑȜĲȚıĲȘĮʌȩįȠıȘıȘȝİȚȫıĲİ

 ȇȣșȝȓıĲİıȦıĲȐĲȘȞțĮĲİȪșȣȞıȘȡȠȒȢĲȠȣĮȑȡĮ

ȫıĲİȞĮȝȘȞİȓȞĮȚıĲȡĮȝȝȑȞȘİʌȐȞȦıİȐĲȠȝĮ

 ȇȣșȝȓıĲİĲȘșİȡȝȠțȡĮıȓĮȖȚĮȞĮİʌȚĲİȣȤșİȓĲȠ

ȝȑȖȚıĲȠİʌȓʌİįȠȐȞİıȘȢȂȘȡȣșȝȓȗİĲİĲȘȝȠȞȐįĮ

ıİȣʌİȡȕȠȜȚțȐİʌȓʌİįĮșİȡȝȠțȡĮıȓĮȢ

 ȀȜİȓıĲİĲȚȢʌȩȡĲİȢțĮȚĲĮʌĮȡȐșȣȡĮțĮĲȐĲȘ

ȜİȚĲȠȣȡȖȓĮ&22/ȌȊȄǾȒ+($7ĬǼȇȂǹȃȈǾ

įȚĮĳȠȡİĲȚțȐȘĮʌȩįȠıȘĲȠȣʌȡȠȧȩȞĲȠȢșĮȝİȚȦșİȓ

 ȋȡȘıȚȝȠʌȠȚȒıĲİĲĮʌȜȒțĲȡĮ7LPHU2QțĮȚ

7LPHU2IIıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠȖȚĮȞĮİʌȚȜȑȟİĲİ

ĲȘȞİʌȚșȣȝȘĲȒȫȡĮİȞİȡȖȠʌȠȓȘıȘȢțĮȚ

ĮʌİȞİȡȖȠʌȠȓȘıȘȢ

 ȂȘȞĲȠʌȠșİĲİȓĲİĮȞĲȚțİȓȝİȞĮțȠȞĲȐıĲȚȢİȚıȩįȠȣȢ

ȒİȟȩįȠȣȢĮȑȡĮțĮșȫȢȘĮʌȠįȠĲȚțȩĲȘĲĮĲȠȣ

ʌȡȠȧȩȞĲȠȢȝʌȠȡİȓȞĮȝİȚȦșİȓțĮȚĲȠțȜȚȝĮĲȚıĲȚțȩȞĮ

ıĲĮȝĮĲȒıİȚȞĮȜİȚĲȠȣȡȖİȓ

 ȀĮșĮȡȓȗİĲİĲĮĳȓȜĲȡĮĮȑȡĮĲĮțĲȚțȐįȚĮĳȠȡİĲȚțȐ

ȘĮʌȩįȠıȘĲȘȢȥȪȟȘȢȒșȑȡȝĮȞıȘȢȝʌȠȡİȓȞĮ

ȝİȚȦșİȓ

 ȈʌȡȫȟĲİĲȠʌȓıȦțĮʌȐțȚĲȠȣĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ǹĳĮȚȡȑıĲİĲȚȢʌĮȜȚȑȢȝʌĮĲĮȡȓİȢ

 ȉȠʌȠșİĲȒıĲİįȪȠȞȑİȢȟȘȡȑȢȝʌĮĲĮȡȓİȢ

$$$9țĮȚʌȡȠıȑȟĲİĲȘȞʌȠȜȚțȩĲȘĲĮ

 ȉȠʌȠșİĲȒıĲİıĲȘșȑıȘĲȠȣĲȠʌȓıȦțĮʌȐțȚĲȠȣ

ĲȘȜİȤİȚȡȚıĲȘȡȓȠȣ

 ȀĮĲȐĲȘȞĮȜȜĮȖȒĲȦȞȝʌĮĲĮȡȚȫȞȝȘȤȡȘıȚȝȠʌȠȚİȓĲİ

ʌĮȜȚȑȢȒįȚĮĳȠȡİĲȚțȠȪĲȪʌȠȣȝʌĮĲĮȡȓİȢįȚĮĳȠȡİĲȚțȐ

ȝʌȠȡİȓȞĮʌȡȠțȜȘșȠȪȞʌȡȠȕȜȒȝĮĲĮıĲȠ

ĲȘȜİȤİȚȡȚıĲȒȡȚȠ

 ǼȐȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠįİȞʌȡȩțİȚĲĮȚȞĮ

ȤȡȘıȚȝȠʌȠȚȘșİȓȖȚĮȝİȖȐȜȠȤȡȠȞȚțȩįȚȐıĲȘȝĮ

ĮĳĮȚȡȑıĲİĲȚȢȝʌĮĲĮȡȓİȢțĮșȫȢȠȚʌĮȜȚȑȢȝʌĮĲĮȡȓİȢ

ȝʌȠȡİȓȞĮʌĮȡȠȣıȚȐıȠȣȞįȚĮȡȡȠȒȒįȚȐȕȡȦıȘțĮȚ

ȞĮʌȡȠțĮȜȑıȠȣȞȕȜȐȕȘıĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠ

 ǾįȚȐȡțİȚĮȗȦȒȢĲȦȞȝʌĮĲĮȡȚȫȞȝİțĮȞȠȞȚțȒȤȡȒıȘ

İȓȞĮȚʌİȡȓʌȠȣȑȟȚȝȒȞİȢ

 ǼȐȞĲȠĲȘȜİȤİȚȡȚıĲȒȡȚȠįİȞȜİȚĲȠȣȡȖİȓțĮȞȠȞȚțȐ

ĮĳĮȚȡȑıĲİțĮȚĲȠʌȠșİĲȒıĲİʌȐȜȚĲȚȢȝʌĮĲĮȡȓİȢ

ǼȐȞıȣȞİȤȚıĲİȓȘȝȘĳȣıȚȠȜȠȖȚțȒȜİȚĲȠȣȡȖȓĮ

ĮȞĲȚțĮĲĮıĲȒıĲİĲȚȢȝʌĮĲĮȡȓİȢȝİțĮȚȞȠȪȡȖȚİȢ

ıȣȝȕȠȣȜȑȢțĮȚʌȜȘȡȠĳȠȡȓİȢ

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