Решаем вместе
Не можете записать ребёнка в сад? Хотите рассказать о воспитателях? Знаете, как улучшить питание и занятия?

Образовательная программа МАДОУ Детский сад № 1 Журавушка на 2023-2024 учебный год

1

%"$!
7
?/?
I
II
2.1.
2.2.
2.2.1.
2.3.
2.3.1.
2.4.
2.5.
2.5.1.
III
3.1

3.2

3.2.1.
3.3.
3.4.

3.4.1.
3.4.2.
3.4.2.1.
3.5.

3.6.
IV
4.1.
4.1.1.
4.1.2
4.1.3.
4.1.3.1
4.1.4

!08<5=>20=85 @0745;>2
"- #""!3
2545=85
*" $
#>OA=8B5;L=0O 70?8A:0
*5;L 8 7040G8 @50;870F88 #@>3@0<@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89
#@8=F8?K 8 ?>4E>4K : D>@<8@>20=8N #@>3@0<@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89
#;0=8@C59 2>7@0AB=>9 3@C??5,
:>=:@5B878@CNI85 B@51>20=8O ("% : F5;52K< >@85=B8@0< ?> ("# "
#5403>38G5A:0O 4803=>AB8:0 4>AB865=8O ?;0=8@C52
+0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89
C"$&0!/ $
%>45@60B5;L=K5 ;8=88 >1@07>20B5;L=>9 45OB5;L=>AB8, @50;87C5 >A=>2=K< =0?@02;5=8O< @0728B8O 45B59 4>H:>;L=>3> 2>7@0AB0 2
A>>B25BAB288 ("# " (>1@07>20B5;L=K< >1;0ABO<: A>F80;L=>:><5 @0728B85, ?>7=020B5;L=>5 @0728B85, @5G52>5 @0728B85,
EC4>65AB25==>-MAB5B8G5A:>5
@0728B85,
D878G5A:>5
@0728B85)
8
<5B>48G5A:8E ?>A>189, >15A?5G820NI8E @50;870F8N 40==>3> A>45@60=8O
"?8A0=85 20@80B82=KE D>@<, A?>A>1>2, <5B>4>2 8 A@54AB2 @50;870F88
#@>3@0<< 2>7@0AB=KE 8 8=48284C0;L=KE >A>15==>AB59
2>A?8B0==8:>2, A?5F8D8:0 8E >1@07>20B5;L=KE ?>B@51=>AB59 8 8=B5@5A>2.
+0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89
"A>15==>AB8 >1@07>20B5;L=>9 45OB5;L=>AB8 8 284K :C;LBC@=KE
?@0:B8:
%?>A>1K 8 =0?@02;5=8O ?>445@6:8 45BA:>9 8=8F80B82K 2 A>>B25BAB288 A
("# "->A>15==>AB8 2708<>459AB28O ?5403>38G5A:>3> :>;;5:B820 A
A5A?8B0==8:>2 (>B@065=85 =0?@02;5=89 2 A>>B25BAB288 A ("%
", A CG5B>< B@51>20=89 ("# ")
%?>A>1K 8 =0?@02;5=8O ?>445@6:8 45BA:>9 8=8F80B82K
"A>15==>AB8 2708<>459AB28O ?5403>38G5A:>3> :>;;5:B820 A A5A?8B0==8:>2
+0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE 2708<>>B=>H5=89
!0?@02;5=8O 8 7040G8, A>45@60=85 :>@@5:F8>==>-@072820NI59 @01>BK.
"?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 ?> ?@>D5AA8>=0;L=>9 :>@@5:F88
=0@CH5=89 @0728B8O 45B59 8/8;8 8=:;N782=>3> >1@07>20=8O (?@8 =0;8G88
45B59 A ")
#@>3@0<<0 2>A?8B0=8O 2 A>>B25BAB288 B@51>20=89 ("# "
"$!*"!!/ $
'A;>28O @50;870F88 "# "
"?8A0=85 ?A8E>;>3>-?5403>38G5A:8E CA;>289 2 A>>B25BAB288 A ("# "
"A>15==>AB8 >@30=870F88, @072820NI59, ?@54<5B=>-?@>AB@0=AB25==>9
A@54K 2 A>>B25BAB288 A ("# "
0B5@80;L=>-B5E=8G5A:85 CA;>28O @50;870F88 "# "
+0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE 2708<>>B=>H5=89
#@8<5@=K9 ?5@5G5=L EC4>65AB25==>9 ;8B5@0BC@K, 872545=89, ?@>872545=89 87>1@078B5;L=>3> 8A:CAAB20, 0=8<0F8>==KE

%B@0=8F
K
4-5
5-6
7
7-8
8
8-10
10-11
11-13
14
15-17

17-21

21-23
23-25

25-32
32-35
35
36-44

44-86
86
87-89
89
89-95
95-101
101-123
2

4.1.5.
4.2.
4.3.
4.4.

?@>872545=89 4;O @07=KE 2>7@0AB=KE 3@C??0 A CG5B>< B@51>20=89 ("#
"
04@>2K5 CA;>28O @50;870F88 "# "
#@8<5@=K9, 381:89 @568< 8 @0A?>@O4>: 4=O 2 4>H:>;L=KE 3@C??0E A
CG5B>< @5:><5=40F89 ("# "
(545@0;L=K9 :0;5=40@=K9 ?;0= 2>A?8B0B5;L=>9 @01>BK
#5@A?5:B82K @01>BK ?> A>25@H5=AB2>20=8N 8 @0728B8N A>45@60=8O ""#
"
#@8;>65=85 : "# "
@0B:0O ?@575=B0F8O "# "

124
124-128
129-130
130
131-134
135

3

I."- #""!3
6989A<9
"1@07>20B5;L=0O ?@>3@0<<0 (40;55 #@>3@0<<0) 3>
02B>=><=>3> 4>H:>;L=>3> >1@07>20B5;L=>3> CG@5645=8O 5BA:89 A04 7 1
«C@02CH:0» (40;55 "' 5BA:89 A04 7 1 «C@02CH:0»)-@07@01>B0=0 =0
>A=>25 >=AB8BCF88 $( 8 70:>=>40B5;LAB20 $(, A CG5B>< >=25=F88 ""! >
?@020E @515=:0, 2 A>>B25BAB288 A B@51>20=8O<8 8 A>45@60=85< ("% " 8
("# ".
"1O70B5;L=0O G0ABL ?@>3@0<>B25BAB2C5B ("# " 8 >D>@<;5=0 2
2845 AAK;>: =0 =5U, GB> A>AB02;O5B =5 <5=55 60% >1I53> >1JU<0 #@>3@0<@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89, A>AB02;O5B =5
1>;55 40% 8 >@85=B8@>20=0 =0 A?5F8D8:C @538>=0;L=KE, A>F8>:C;LBC@=KE,
=0F8>=0;L=KE CA;>289, 2 :>B>@KE >ACI5AB2;O5BAO >1@07>20B5;L=0O
45OB5;L=>ABL.
!>@<0B82=>9 107>9 4;O A>AB02;5=8O #@>3@0<= >B 29 45:01@O 2012 7 273-( «"1 >1@07>20=88 2
$>AA89A:>9 (545@0F88»;
-(545@0;L=K9 3>AC40@AB25==K9 >1@07>20B5;L=K9 AB0=40@B 4>H:>;L=>3>
>1@07>20=8O, CB25@64U==K9 ?@8:07>< 8=8AB5@AB20 >1@07>20=8O 8 =0C:8
$>AA89A:>9 (545@0F88 >B 17 >:BO1@O 2013 3. 7 1155 (70@538AB@8@>20=
8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 14 =>O1@O 2013 3.,
@538AB@0F8>==K9 7 30384), A 87<5=5=85<, 2=5A5==K< ?@8:07><
8=8AB5@AB20 ?@>A25I5=8O $>AA89A:>9 (545@0F88 >B 21 O=20@O .2019 3. 7 31
(70@538AB@8@>20= 8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 13 D52@0;O
2019 3., @538AB@0F8>==K9 7 53776).
- #@8:07 8=?@>A25I5=8O $>AA88 >B 25.11.2022 71028 «"1 CB25@645=88
D545@0;L=>9 >1@07>20B5;L=>9 ?@>3@0<H:>;L=>3> >1@07>20=8O»
(70@538AB@8@>20= 8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 28 45:01@O
2022 3>40, @538AB@0F8>==K9 7 71847);
- #@8:07 8=?@>A25I5=8O $>AA88 >B 31.07.2020 N 373 «"1 CB25@645=88
#>@O4:0 >@30=870F88 8 >ACI5AB2;5=8O >1@07>20B5;L=>9 45OB5;L=>AB8 ?>
>A=>2=K< >1I5>1@07>20B5;L=K< ?@>3@0<<0 3 >1@07>20B5;L=K< ?@>3@0<<0
4>H:>;L=>3> >1@07>20=8O»;
- %# 2.4.3648-20 «%0=8B0@=>-M?845<8>;>38G5A:85 B@51>20=8O :
>@30=870F8O< 2>A?8B0=8O 8 >1CG5=8O, >B4KE0 8 >74>@>2;5=8O 45B59 8
<>;>4568», CB25@645==K<8 ?>AB0=>2;5=85< ;02=>3> A0=8B0@=>3> 2@0G0 $(
>B 28.09.2020 7 28, %0=#8! 1.2.3685-21 «8385=8G5A:85 =>@<0B82K 8
B@51>20=8O : >15A?5G5=8N 157>?0A=>AB8 8 (8;8) 1572@54=>AB8 4;O G5;>25:0
D0:B>@>2 A@54K >18B0=8O», CB25@645==K<8 ?>AB0=>2;5=85< ;02=>3>
A0=8B0@=>3> 2@0G0 $(;
-'AB02 "' 5BA:89 A04 7 1 «C@02CH:0», CB25@645==K9 ?@8:07><
'?@02;5=8O >1@07>20=8O 04<8=8AB@0F88 +09:>2A:>3> 3>@>4A:>3> >:@C30 >B
27.08.2019 7 07-01-05-542.
4

"1@07>20B5;L=0O ?@>3@0<<0
"' 5BA:89 A04 7 1 «C@02CH:0»
=0?@02;5=0 =0 @50;870F8N :;NG52KE DC=:F89 4>H:>;L=>3> C@>2=O
>1@07>20=8O:
1) >1CG5=85 8 2>A?8B0=85 @515=:0 4>H:>;L=>3> 2>7@0AB0 :0: 3@0640=8=0
$(, D>@<8@>20=85 >A=>2 53> 3@0640=A:>9 8 :C;LBC@=>9 845=B8G=>AB8 =0
A>>B25BAB2CNI5< 53> 2>7@0ABC A>45@60=88 4>ABC?=K<8 A@54AB20<8;
2) A>740=85 548=>3> O4@0 A>45@60=8O 4>H:>;L=>3> >1@07>20=8O,
>@85=B8@>20==>3> =0 ?@8>1I5=8O : B@048F8>==K< 4CE>2=>-=@02AB25==K< 8
A>F8>:C;LBC@=K< F5==>ABO< @>AA89A:>3> =0@>40, 2>A?8B0=85 ?>4@0AB0NI53>
?>:>;5=8O :0: 7=0NI53> 8 C2060NI53> 8AB>@8N 8 :C;LBC@C A2>59 A5;LH>9 8 <0;>9 $>48=K;
3) A>740=85 548=>3> D545@0;L=>3> >1@07>20B5;L=>3> ?@>AB@0=AB20
2>A?8B0=8O 8 >1CG5=8O 45B59 >B @>645=8O 4> ?>ABC?;5=8O 2
>1I5>1@07>20B5;L=CN >@30=870F8N, >15A?5G820NI53> @515=:C 8 53>
@>48B5;O< (70:>==K< ?@54AB028B5;O<) @02=K5, :0G5AB25==K5 CA;>28O
4>H:>;L=>3> >1@07>20=8O, 2=5 7028A8<>AB8 >B <5AB0 ?@>6820=8O.
I.*" $
2.1 #BSEA4
"1@07>20B5;L=0O ?@>3@0<<0
"' 5BA:89 A04 7 1 «C@02CH:0»
(40;55 #@>3@0<<0) -MB> =>@<0B82=>-C?@02;5=G5A:89 4>:C<5=B, >?@545;ONI89
A>45@60=85 8 >@30=870F8N >1@07>20B5;L=>9 45OB5;L=>AB8 =0 C@>2=5
4>H:>;L=>3> >1@07>20=8O. !0?@02;5==>ABL @50;870F88 #@>3@0<1I5@072820NI0O -(A@>: >A2>5=8O >B 2 <5AOF52 4> 7 ;5B). #@>3@0<<0 =>A8B
>B:@KBK9 E0@0:B5@. "=0 70405B >A=>2>?>;030NI85 ?@8=F8?K, F5;8, 7040G8,
A>74020O ?@>AB>@ 4;O B2>@G5A:>3> 8A?>;L7>20=8O @07;8G=KE ?5403>38G5A:8E
B5E=>;>389 A CG5B>< B@51>20=89 ("# ". > 2A5E A8BC0F8OE 2708<>459AB28O
A 2>A?8B0==8:0<8 ?5403>3 2KABC?05B :0: ?@>2>4=8: >1I5G5;>25G5A:>3> 8
A>1AB25==>3>, ;8G=>3> >?KB0 3C<0=8AB8G5A:>3> >B=>H5=8O : ;N4O<. #5403>3C
?@54AB02;5=> ?@02> 2K1>@0 B5E 8;8 8=KE A?>A>1>2 @5H5=8O ?5403>38G5A:8E
7040G, A>740=8O :>=:@5B=KE CA;>289 2>A?8B0=8O 8 @0728B8O 45B59.
"1O70B5;L=0O G0ABL #@>3@0<B0=0 2 A>>B25BAB288 A ("% " A
CG5B>< B@51>20=89 (545@0;L=>9 >1@07>20B5;L=>9 ?@>3@0<H:>;L=>3>
>1@07>20=8O. :;NG0B 2 A51O B@8 >A=>2=KE @0745;0: F5;52>9, A>45@60B5;L=K9,
>@30=870F8>==K9 8 >4=8< 87 >A=>2=KE :>=5=B>2 #@>3@0<G0O ?@>3@0<< 2>A?8B0=8O.
2.1.1.+4EFP, HBD@4@< B5D4;B64F9?PAOI BFABL9A<=
+0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89, 2
#@>3@0<<5 ?@54AB02;O5B A>1>9 2 2845 :@0B:8E 0==>B0F89, AAK;>: =0
A>45@60=85 <5B>48G5A:8E ?>A>189,
?0@F80;L=KE
?@>3@0<<, :>B>@K5
@0AH8@ONB 8 4>?>;=ONB >A=>2=>5 A>45@60=85 ?> >1@07>20B5;L=K< >1;0ABO<:
«%>F80;L=>-:><5 @0728B85», «#>7=020B5;L=>5 @0728B85», «$5G52>5
@0728B85», «)C4>65AB25==>-MAB5B8G5A:>5 @0728B85», 2 =081>;LH59 AB5?5=8
5

A>>B25BAB2CNB ?>B@51=>ABO< CG0AB=8:>2 >1@07>20B5;L=KE >B=>H5=89, 2:;NG0O
8==>20F8>==CN 45OB5;L=>ABL 45BA:>3> A040:
-<5B>48G5A:>5 ?>A>185 ..(5H8=>9 «53>-:>=AB@C8@>20=85 2 45BA:><
A04C» ?> @0728B8N :>=AB@C:B>@A:8E A?>A>1=>AB59 8 <5B>48G5A:>5 ?>A>185
«>=AB@C8@>20=85» )0;0<>20 .!, (@>;>2>9 $.. 2 @0<:0E @50;870F88 ?@>5:B0
«5BA:89 B5E=><8@» (:>@?CA «C@02CH:0»).
-?0@F80;L=0O >1@07>20B5;L=0O ?@>3@0<<0 ?> @0728B8N B5E=8G5A:8E 8
:>=AB@C:B82=KE C<5=89 2 A?5F8D8G5A:8E 4;O 4>H:>;L=>3> 2>7@0AB0 2840E
45OB5;L=>AB8 &.. >;>A>25F, ...0@?>20, &..&8<>D5520 «"B (@U15;O 4>
@>1>B0: @0AB8< 1C4CI8E 8=65=5@>2» (:>@?CA «5A=0O ?>;O=0»)
- ?0@F80;L=0O ?@>3@0<<0 «)C4>65AB25==K9 B@C4 2 45BA:>< A04C» /2B>@
K:>20 ..,
.: 8740B5;LA:89 4>< «0@0?C7», 20103. 4;O AB0@H53>
4>H:>;L=>3> 2>7@0AB0.
- ?0@F80;L=0O ?@>3@0<<0 «>=AB@C8@>20=85 2 45BA:>< A04C» /2B>@ K:>20
.., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173. $0745;K «>=AB@C8@>20=85
87 1C<038, A>;><:8».
- ?0@F80;L=0O ?@>3@0<< «(>@<8@>20=85 :C;LBC@K 157>?0A=>AB8» /2B>@
..&8<>D5520, 8740B5;LA:89 4>< «5BAB2>-#@5AA», 20153.
- ?0@F80;L=K5 M;5<5=BK 87 ?@>3@0<?0A=>ABL» /2B>@
K:>20 .., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173.
- G0ABL ?@>3@0< >1CG5=8N 3@0<>B5 4;O AB0@H53> 4>H:>;L=>3>
2>7@0AB0) «#> 4>@>35 : 071C:5» &.$. 8A;>20, 8740B5;LAB2> """ «0;0%%»,
20173.
- ?0@F80;L=0O ?@>3@0<<0 A @538>=0;L=K< :>=5=B>< «"B:@KB8O (55G:8
:>?55G:8» / 2B>@ ..N18<>20, 8740B5;LAB2> «!0F8>=0;L=>5 >1@07>20=85»,
20193.
- ?0@F80;L=0O ?@>3@0<<0 «!@02AB25==>-?0B@8>B8G5A:>5 2>A?8B0=85 45B59
4>H:>;L=>3> 2>7@0AB0» /2B>@ ./.5B>E8=0, 8740B5;LAB2> «5BAB2>-#@5AA»,
20193.
- <5B>48G5A:>5 ?>A>185 «"7=0:><;5=85 A ?@54<5B=K< 8 A>F80;L=K<
>:@C65=85<» /2B>@ "..K18=0, 8740B5;LAB2> « >A:20-A8=B57», 20213.
- ?0@F80;L=K5 M;5<5=BK 87 ?@>3@0<H:8» /2B>@ K:>20
.., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173.
#@>3@0<<0 >?@545;O5B F5;L, 7040G8, ?;0=8@C545@60=85 8
>@30=870F8N 2>A?8B0B5;L=>->1@07>20B5;L=>3> ?@>F5AA0, 2 A>>B25BAB288 A
("% " 8 ("# ", >A=>2=K<8 B@5=40<8 >1@07>20=8O #5@3> :@0O,
#@>3@0<<>9 @0728B8O CG@5645=8O, A CG5B>< >1@07>20B5;L=KE ?>B@51=>AB59 8
8=B5@5A>2 2>A?8B0==8:>2, G;5=>2 8E A5<59.
%>3;0A=> ("% " 8 ("# " #@>3@0<<0 A>45@68B 4>?>;=8B5;L=K9
@0745;, 2 :>B>@>< ?@54AB02;5=0 :@0B:0O ?@575=B0F8O #@>3@0<48B5;59 (70:>==KE ?@54AB028B5;59) 2>A?8B0==8:>2. 
?@>3@0<<5 8<55BAO #@8;>65=85 A 4803=>AB8G5A:8< 8=AB@C<5=B0@85<.
6

2.2. *9?< < ;484K< D94?<;4J<< #DB7D4@@O
*5;8 8 7040G8 @50;870F88 #@>3@0<>B25BAB2CNB
("% " -?.?.1.5, 1.6, ("# " AB@.4-5 ?.14.1, 14.2
*5;LN #@>3@0<AB>@>==55 @0728B85 @51U=:0 2
?5@8>4 4>H:>;L=>3> 45BAB20 A CGUB>< 2>7@0AB=KE 8 8=48284C0;L=KE
>A>15==>AB59 =0 >A=>25 4CE>2=>-=@02AB25==KE F5==>AB59 @>AA89A:>3> =0@>40,
8AB>@8G5A:8E 8 =0F8>=0;L=>-:C;LBC@=KE B@048F89.
040G8
÷

"15A?5G8BL 548=K5 4;O $>AA88 A>45@60=85 4>H:>;L=>3> >1@07>20=8O
?;0=8@C5A2>5=8O >1@07>20B5;L=>9 ?@>3@0<1I0BL 45B59 2 A>>B25BAB288 A 2>7@0AB=K<8 >A>15==>ABO<8
: 107>2K< F5==>ABO< @>AA89A:>3> =0@>40

÷

KAB@0820BL,
AB@C:BC@8@>20BL
45OB5;L=>AB8 =0 >A=>25 CG5B0
>A>15==>AB59 @0728B8O 45B59

÷

%>740BL CA;>28O 4;O @02=>3> 4>ABC?0 : >1@07>20=8N 4;O 2A5E 45B59
4>H:>;L=>3> 2>7@0AB0 A CG5B>< @07=>>1@078O >1@07>20B5;L=KE
?>B@51=>AB59 8 8=48284C0;L=KE 2>7<>6=>AB59

÷

"15A?5G8BL >E@0=C 8 C:@5?;5=85 D878G5A:>3> 8 ?A8E8G5A:>3>
74>@>2LO 45B59, 2 B>< G8A;5 8E M<>F8>=0;L=>3> 1;03>?>;CG8O

÷

"15A?5G8BL @0728B85 D878G5A:8E, ;8G=>AB=KE, =@02AB25==KE :0G5AB2
8 >A=>2 ?0B@8>B87<0, 8=B5;;5:BC0;L=KE 8 EC4>65AB25==>-B2>@G5A:8E
A?>A>1=>AB59 @515=:0, 53> 8=8F80B82=>AB8, A0<>AB>OB5;L=>AB8
8 >B25BAB25==>AB8

÷

"15A?5G8BL
?A8E>;>3>-?5403>38G5A:CN
?>445@6:C
A52KH5=85 :>AB8 @>48B5;59 2 2>?@>A0E 2>A?8B0=8O,
>1CG5=8O 8 @0728B8O, >E@0=K 8 C:@5?;5=8O 74>@>2LO 45B59,
>15A?5G5=8O 8E 157>?0A=>AB8

÷

"15A?5G8BL 4>AB865=85 45BL<8 =0 MB0?5 7025@H5=8O " C@>2=O
@0728B8O, =5>1E>48<>3> 8 4>AB0B>G=>3> 4;O CA?5H=>3> >A2>5=8O 8<8
>1@07>20B5;L=KE ?@>3@0<< =0G0;L=>3> >1I53> >1@07>20=8O

A>45@60=85
>1@07>20B5;L=>9
2>7@0AB=KE 8 8=48284C0;L=KE

2.2.1.+4EFP, HBD@4@< B5D4;B64F9?PAOI BFABL9A<=
"15A?5G8BL A2>52@5<5==>5 A>F80;L=>5 @0728B85 4>H:>;L=8:>2,
A>>B25BAB2CNI55 8E 2>7@0AB=K<, ?>;>2K< 8 MB=8G5A:8< >A>15==>ABO<, 2 B><
G8A;5 :C;LBC@=K< B@048F8O< @>4=>3> 3>@>40 8 :@0O.
÷ #@>4>;60BL A?>A>1AB2>20BL @0728B8N B5E=8G5A:8E 8 :>=AB@C:B82=KE
C<5=89 2 A?5F8D8G5A:8E 4;O 4>H:>;L=>3> 2>7@0AB0 2840E 45BA:>9
÷

7

45OB5;L=>AB8 A CG5B>< @538>=0;L=KE >A>15==>AB59 #5@3> :@0O.
÷ $0AH8@OBL >?KB A>740=8O :>=AB@C:F89 87 ;53>-45B0;59 AB@>8B5;L=KE
45B0;59, 1C<038, :0@B>=0, B:0=8, D>;L38, ?@8@>4=>3> 8 1KB>2>3> <0B5@80;0.
÷ #@>4>;60BL D>@<8@>20BL 4CE>2=>ABL, =@02AB25==>-?0B@8>B8G5A:85
GC2AB20 C 45B59 4>H:>;L=>3> 2>7@0AB0 (8=B53@8@>20==K9 ?>4E>4)
÷ $072820BL 8=B5@5A 8 2=8<0=85 : A;>2C, : A>1AB25==>9 @5G8 8 @5G8
>:@C60NI8E, @072820BL C<5=85 >?5@8@>20BL 548=8F0<8 O7K:0: 72C:><,
A;>3><, A;>2><, A;>2>A>G5B0=85<, ?@54;>65=85< (7=0:> A 1C:20<8)
÷ (>@<8@>20BL C 4>H:>;L=8:>2 >A=>2K :C;LBC@K 157>?0A=>AB8,
>?@545;ONI8E 2>7<>6=>ABL ?>;=>F5==>3> @0728B8O @07;8G=KE D>@<
;8G=>AB=>9 0:B82=>AB8 45B59.
2.3. #D HBD@4E>4K : D>@<8@>20=8N #@>3@0<>B25BAB2CNB
("% "-?.1.4., ("# " AB@.5 ?. 14.3
$515=>: 3CG0AB=8: >1@07>20B5;L=KE >B=>H5=89, :>B>@K9 ?>;=>F5==>
?@>68205B 2A5 MB0?K 45BAB20
#5403>38 4>H:>;L=>3> CG@5645=8O 4>;6=K:
÷ 2KAB@0820BL >1@07>20B5;L=CN 45OB5;L=>ABL =0 >A=>25 8=48284C0;L=KE
>A>15==>AB59 :064>3> @51U=:0;
÷ >15A?5G820BL A>B@C4=8G5AB2> @>48B5;59 8 45B59, A>25@H5==>;5B=8E
G;5=>2 A5B>@K5 ?@8=8<0NB CG0AB85 2 8E 2>A?8B0=88;
÷ ?>445@6820BL 8=8F80B82C 45B59 2 @07;8G=KE 2840E 45OB5;L=>AB8;
÷ ?@8>1I0BL 8E : A>F8>:C;LBC@=K< =>@<0<, B@048F8O< A51I5AB20 8
3>AC40@AB20;
÷ D>@<8@>20BL ?>7=020B5;L=K5 8=B5@5AK 8 ?>7=020B5;L=K5 459AB28O 2
@07;8G=KE 2840E 45OB5;L=>AB8;
÷ CG8BK20BL MB=>:C;LBC@=CN A8BC0F8N @0728B8O 45B59;
÷ >15A?5G820BL 2>7@0AB=CN 045:20B=>ABL 4>H:>;L=>3> >1@07>20=8O, :>340
CA;>28O, B@51>20=8O, <5B>4K A>>B25BAB2CNB 2>7@0ABC 8 >A>15==>ABO<
@0728B8O 45B59;
÷ >@30=87>2K20BL A>B@C4=8G5AB2> "" A A54@< B5D4;B64F9?PAOI BFABL9A<=

!08<5=>20=85
?@8=F8?0
1)#@8=F8?
=0CG=>AB8

"?@545;5=85 ?@8=F8?0

$50;870F8O 2 "'

#@54?>;0305B
A>>B25BAB285
A>45@60=8O >1@07>20=8O C@>2=N
@0728B8O A>2@5<5==>9 =0C:8 8
B5E=8:8,
>?KBC
=0:>?;5==>2>9 F828;870F859

A?>;L7>20=85
?@>3@0<<
8==>20F8>==KE
B5E=>;>389,
8<5NI8E
=0CG=>5
A>45@60=85,
2:;NG5=85
2
>1@07>20B5;L=CN
45OB5;L=>ABL
=0CG=>?>7=020B5;L=>3> <0B5@80;0 (A CG5B><
2>7@0AB=KE >A>15==>AB59)
8

2)#@8=F8?
4>ABC?=>AB8
3)#@8=F8?
@072820NI53>
>1@07>20=8O
4)#@8=F8?
8=B53@0F88

&@51C5B >A1;5AB8 8 >1J5<0 @072820NI53>
<0B5@80;0, ?>4;560I53> CA2>5=8N
$072820NI89 E0@0:B5@ >1@07>20=8O
@50;87C5BAO G5@57 45OB5;L=>ABL
:064>3> @51U=:0 2 7>=5 53>
1;8609H53> @0728B8O
#@54AB02;O5B A>1>9 >1J548=5=85 2
548=>5 F5;>5 @0=55 @07@>7=5==KE
G0AB59 8 M;5<5=B>2 A8AB5A=>25
2708<>7028A8<>AB8
8
2708<>4>?>;=O5<>AB8

#>43>B>2:0 <0B5@80;0, @50;870F8O
A>45@60=8O 2 E>45 >1@07>20B5;L=>9
45OB5;L=>AB8
%>740=85
$##%
A
CG5B><
B@51>20=89 ("% " 8 ("# "

$50;870F8O ?@8=F8?0 8=B53@0F88
?@8 A>740=88 $##%, 8=B53@0F8O
>1@07>20B5;L=KE >1;0AB59, @07=KE
284>2 45OB5;L=>AB8, D>@<, <5B>4>2,
A@54AB2 >1@07>20B5;L=>3> ?@>F5AA0,
8=B53@0F8O
45BA:>-@>48B5;LA:8E
>B=>H5=89
5)#@8=F8?
#@54?>;0305B
2A5AB>@>==55, #;0=8@>20=85
2>A?8B0B5;L=>:>AB8
<=>3>0A?5:B=>5, <=>3>D0:B>@=>5 >1@07>20B5;L=>3> ?@>F5AA0
@0AA<>B@5=85 A8AB53;0A>20=85
DC=:F8>=8@>20=8O
8AE>4=KE :>=5=B>2 =0?@02;5=>
=0 4>AB865=85 548=>9 3;>10;L=>9
F5;8
5)#@8=F8?
"15A?5G8205B
AB0=>2;5=85
#;0=8@>20=85
2>A?8B0B5;L=>:C;LBC@>A>>1@07=>AB @07;8G=KE AD5@ A0<>A>7=0=8O
>1@07>20B5;L=>3>
?@>F5AA0,
8 8 @538>=0;L=KE @515=:0 =0 >A=>25 :C;LBC@K
?>?>;=5=85 $##%
:>=5=B>2
A2>53> =0@>40, 1;8609H53>
A>F80;L=>3>
>:@C65=8O
8
>A>15==>AB59 A2>53> @538>=0
(#5@3> :@0O).

!08<5=>20=85
?>4E>40
5=45@=K9

8G=>AB=>>@85=B8@>20==K9

#>4E>4K : D>@<8@>20=8N #@>3@0<4E>40

$50;870F8O 2 "'

AA;54>20=85 ?A8E>;>38G5A:8E
E0@0:B5@8AB8:
?>;>2>9
48DD5@5=F80F88, 2KOA=5=85 @>;8
A>F80;L=>3> ?>;0 2 >B;8G85 >B
18>;>38G5A:>3> ?>=8<0=8O ?>;0
:0:
A>2> C?=>AB8
<>@D>;>38G5A:8E
8
D878>;>38G5A:8E >A>15==>AB59.
5B>4>;>38G5A:0O >@85=B0F8O 2
?5403>38G5A:>9
45OB5;L=>AB8,
?>72>;ONI0O ?>A@54AB2>< >?>@K =0
A8AB5A2O70==KE ?>=OB89,
8459
8
A?>A>1>2
459AB289
>15A?5G8BL 8 ?>445@60BL ?@>F5AAK
A0<>?>7=0=8O, A0<>AB@>8B5;LAB20 8
A0<>@50;870F88 ;8G=>AB8 @515=:0,
@0728B85
53>
=5?>2B>@8<>9
8=48284C0;L=>AB8.

3@>20O 45OB5;L=>ABL, ?@54<5B=>@072820NI0O A@540

#>43>B>2:0 8 ?@>2545=85
>1@07>20B5;L=>9 45OB5;L=>AB8

9

8DD5@5=F8@>20==K9 >48=
87
A?>A>1>2
@5H5=8O
?5403>38G5A:8E 7040G A CGUB><
A>F80;L=>-?A8E>;>38G5A:8E
>A>15==>AB59 3@C?? 2>A?8B0=8O,
:>B>@K5 ACI5AB2CNB 2 A>>1I5AB25
45B59 :0: 53> AB@C:BC@=K5 8;8
=5D>@<0;L=K5 >1J548=5=8O 8;8
2K45;ONBAO ?5403>3>< ?> AE>4=K<
8=48284C0;L=K<,
;8G=>AB=K<
:0G5AB20< 2>A?8B0==8:>2.

$50;870F88 48DD5@5=F8@>20==>3>
?>4E>40 A?>A>1AB2C5B >@30=870F8O
83@,
A>@52=>20=89,
2@5<5==KE
B2>@G5A:8E :>;;5:B82>2, A>740=85
A?5F80;L=KE
?5403>38G5A:8E
A8BC0F89, ?><>30NI8E @0A:@KBL
4>AB>8=AB20 2>A?8B0==8:>2.

2.4. #?4A4:8B= 6B;D4EFAB=
7DGCC9, >BA>D9F<; J9?96O@
BD<9AF>B25BAB288 A ("% " A?5F8D8:0 4>H:>;L=>3> 2>7@0AB0 8
A8AB5<=K5 >A>15==>AB8 " 45;0NB =5?@02><5@=K<8 B@51>20=8O >B @51U=:0
4>H:>;L=>3> 2>7@0AB0 :>=:@5B=KE >1@07>20B5;L=KE 4>AB865=89. #>MB>A2>5=8O (545@0;L=>9 ?@>3@0<1>9 2>7@0AB=K5 E0@0:B5@8AB8:8 2>7<>6=KE 4>AB865=89 @51U=:0
4>H:>;L=>3> 2>7@0AB0 =0 @07=KE 2>7@0AB=KE MB0?0E 8 : 7025@H5=8N ". 
A>>B25BAB288 A ?5@8>4870F859 ?A8E8G5A:>3> @0728B8O @51U=:0 A>3;0A=>
:C;LBC@=>-8AB>@8G5A:>9 ?A8E>;>388, 4>H:>;L=>5 45BAB2> ?>4@0745;O5BAO
=0 B@8 2>7@0AB0: <;045=G5A:89 (?5@2>5 8 2B>@>5 ?>;C3>48O 687=8), @0==89
(>B >4=>3> 3>40 4> B@5E ;5B) 8 4>H:>;L=K9 2>7@0AB (>B B@5E 4> A5<8 ;5B).
"1>7=0G5==K5 2 (545@0;L=>9 ?@>3@0<<5 2>7@0AB=K5 >@85=B8@K «: >4=>4C», «: B@5< 3>40<» 8 B0: 40;55 8<5NB CA;>2=K9 E0@0:B5@, GB>
?@54?>;0305B H8@>:89 2>7@0AB=>9 480?07>= 4;O 4>AB865=8O @51U=:><
?;0=8@C52.
-B>
A2O70=>
A
=5CAB>9G82>ABLN,
35B5@>E@>==>ABLN 8 8=48284C0;L=K< B5< ?A8E8G5A:>3> @0728B8O 45B59
2 4>H:>;L=>< 45BAB25, >A>15==> ?@8 ?@>E>645=88 :@8B8G5A:8E ?5@8>4>2.
#> MB>9 ?@8G8=5 @51U=>: <>65B ?@>45<>=AB@8@>20BL >1>7=0G5==K5 2
?;0=8@C57@0AB=K5 E0@0:B5@8AB8:8 @0728B8O @0=LH5 8;8
?>765 7040==KE 2>7@0AB=KE >@85=B8@>2.
%B5?5=L 2K@065==>AB8 2>7@0AB=KE E0@0:B5@8AB8: 2>7<>6=KE
4>AB865=89 <>65B @07;8G0BLAO C 45B59 >4=>3> 2>7@0AB0 ?> ?@8G8=5
2KA>:>9 8=48284C0;870F88 8E ?A8E8G5A:>3> @0728B8O 8 @07=KE AB0@B>2KE
CA;>289 >A2>5=8O >1@07>20B5;L=>9 ?@>3@0<7=0G5==K5 @07;8G8O =5
4>;6=K 1KBL :>=AB0B8@>20=K :0: B@C4=>AB8 @51U=:0 2 >A2>5=88
10

>1@07>20B5;L=>9 ?@>3@0<4@07C<520NB 53> 2:;NG5=8O 2
A>>B25BAB2CNICN F5;52CN 3@C??C. (("# "-AB@.5-6)
)4D4>F9D< 6B;@B:AOI 8BEF<:9A<= D959A>4
(C?4AA2>5=8O "# " 2 :064>9 2>7@0AB=>9 3@C??5,
:>=:@5B878@CNI85 B@51>20=8O ("% " : F5;52K< >@85=B8@0< ?> ("# "
AB@.5-17 ?.15
#5403>38G5A:0O 4803=>AB8:0 4>AB865=8O ?;0=8@C52,
>A=>2=K5 <5B>4K, @5:><5=40F88 ?> D8:A0F88 @57C;LB0B>2 =01;N45=8O,
0=0;87 ?@>4C:B>2 45BA:>9 45OB5;L=>AB8 ?@54AB02;5=K 2 ("# " AB@. 16-19
?.16.
#5403>38G5A:0O 4803=>AB8:0 4>?>;=5=0 ?;0=8@C53@0<<, :>B>@K5 8A?>;L7CNBAO 2 G0AB8, D>@<8@C5<>9
CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89.
2.5. #9847B74S 8<47ABEF<>4 8BEF<:9A38G5A:0O 4803=>AB8:0 4>AB865=89 ?;0=8@C52
=0?@02;5=0 =0 87CG5=85 45OB5;L=>AB=KE C<5=89 @51U=:0, 53> 8=B5@5A>2,
?@54?>GB5=89,
A:;>==>AB59,
;8G=>AB=KE
>A>15==>AB59,
A?>A>1>2
2708<>459AB28O A> 27@>A;K<8 8 A25@AB=8:0<8. "=0 ?>72>;O5B 2KO2;OBL
>A>15==>AB8 8 48=0<8:C @0728B8O @51U=:0, A>AB02;OBL =0 >A=>25 ?>;CG5==KE
40==KE
8=48284C0;L=K5
>1@07>20B5;L=K5
<0@H@CBK
>A2>5=8O
>1@07>20B5;L=>9 ?@>3@0<52@5<5==> 2=>A8BL 87<5=5=8O 2
?;0=8@>20=85, A>45@60=85 8 >@30=870F8N >1@07>20B5;L=>9 45OB5;L=>AB8. (?.
16.1 ("# ") #5403>38G5A:0O 4803=>AB8:0 =5 O2;O5BAO >A=>2>9 >1J5:B82=>9
>F5=:8 A>>B25BAB28O :0:>3>-;81> C@>2=O @0728B8O 45B59.  A>>B25BAB288 A
("% " B@51>20=8O : @57C;LB0B0< >A2>5=8O #@>3@0<@85=B8@>2 4>H:>;L=>3> >1@07>20=8O, :>B>@K5 ?@54AB02;ONB
A>1>9 A>F80;L=>- =>@<0B82=K5 2>7@0AB=K5 E0@0:B5@8AB8:8 2>7<>6=KE
4>AB865=89 @515=:0 =0 MB0?5 7025@H5=8O C@>2=O 4>H:>;L=>3> >1@07>20=8O.
*5;52K5 >@85=B8@K =5 O2;ONBAO >A=>20=85< 4;O 8E D>@<0;L=>3> A@02=5=8O A
@50;L=K<8 4>AB865=8O<8 45B59 8 =5 <>3CB A;C68BL >A=>20=85< 4;O >F5=:8
:0G5AB20 4>H:>;L=>3> >1@07>20=8O (?. 4.3 ("% ").
;O 20@80B82=>9 G0AB8 ""# "' ?;0=8@C5>B25BAB2CNB
A>45@60=8N ?0@F80;L=KE ?@>3@0<<. "F5=:0 8=48284C0;L=>3> @0728B8O
2>A?8B0==8:>2 >ACI5AB2;O5BAO 2> 2A5E 2>7@0AB=KE 3@C??0E ?> A;54CNI8<
>1@07>20B5;L=K< >1;0ABO< 8 =0?@02;5=8O< (2 A>>B25BAB288 A ("# " 8
("% "):
÷
"" «%>F80;L=>-:><5 @0728B85» (=0?@02;5=8O-  AD5@5
A>F80;L=KE >B=>H5=89, "1;0ABL D>@<8@>20=8O >A=>2 3@0640=AB25==>AB8 8
?0B@8>B87<0, %D5@0 B@C4>2>3> 2>A?8B0=8O, "1;0ABL D>@<8@>20=8O >A=>2
157>?0A=>3> ?>2545=8O);
÷
"" «#>7=020B5;L=>5 @0728B85» (=0?@02;5=8O- %5=A>@=K5 MB0;>=K 8
11

?>7=020B5;L=K5 459AB28O, ":@C60NI89 <8@, #@8@>40,
0B5<0B8G5A:>5
?@54AB02;5=85);
÷
"" «$5G52>5 @0728B85» (=0?@02;5=8O- $0728B85 8 ?>=8<0=85 @5G8,
$0728B85 0:B82=>9 @5G8, D>@<8@>20=85 (@0728B85, >1>30I5=85, 0:B82870F8O)
A;>20@O, 2C:>20O :C;LBC@0 @5G8, @0<<0B8G5A:89 AB@>9 @5G8, %2O7=0O @5GL,
=B5@5A : EC4>65AB25==>9 ;8B5@0BC@5, #>43>B>2:0 : >1CG5=8N 3@0<>B5);
÷
""
«)C4>65AB25==>-MAB5B8G5A:>5
@0728B85»
(=0?@02;5=8O#@8>1I5=85 : 8A:CAAB2C, 7>1@078B5;L=O 45OB5;L=>ABL (;5?:0, @8A>20=85,
0??;8:0F8O, =0@>4=>5 45:>@0B82=>-?@8:;04=>5 8A:CAAB2>, ?@8:;04=>5
B2>@G5AB2>)), >=AB@C:B82=>5, C7K:0;L=>5 (A;CH0=85, ?5=85, @8B<8G5A:85
42865=8O,
?5A5==>5
B2>@G5AB2>,
B0=F520;L=>-83@>2>5
B2>@G5AB2>, 83@K = 45BA:8E 20==0O
45OB5;L=>ABL, :C;LBC@=>-4>AC3>20O 45OB5;L=>ABL);
÷
"" «(878G5A:>5 @0728B85» (=0?@02;5=8O-"A=>2=0O 38<=0AB8:0,
#>4286=K5 83@K, %?>@B82=K5 C?@06=5=8O, %?>@B82=K5 83@K, (>@<8@>20=85
>A=>2 74>@>2>3> >1@070 687=8, :B82=K9 >B4KE).
$57C;LB0BK ?5403>38G5A:>9 4803=>AB8:8 8A?>;L7CNBAO 8A:;NG8B5;L=>
4;O @5H5=8O A;54CNI8E >1@07>20B5;L=KE 7040G:
1) 8=48284C0;870F88 >1@07>20=8O (2 B>< G8A;5 ?>445@6:8 @515=:0,
?>AB@>5=8O 53> >1@07>20B5;L=>9 B@05:B>@88 8;8 ?@>D5AA8>=0;L=>9
:>@@5:F88 >A>15==>AB59 53> @0728B8O);
2) >?B8<870F88 @01>BK A 3@C??>9 45B59;
3) >7=0:><;5=85 @>48B5;59 (70:>==K< ?@54AB028B5;O<) 2 CA;>28OE
A>1;N45=8O :>=D845=F80;L=>AB8 @57C;LB0B>2 8 48=0<8:8 @0728B8O;
(GA>J<< C9847B7B= 8<47ABEF<><
=D>@<0F8>==0O:
÷
2>7<>6=>ABL ?>;CG0BL >1@0B=CN A2O7L (>?@545;8BL MDD5:B82=>ABL
?5403>38G5A:>3> ?@>F5AA0);
%B82KH5=85 ?@>D5AA8>=0;L=>9 :>AB8;
÷
?>1C645=85 ?5403>3>2 : ?@>2545=8N A0<>0=0;870 A2>59
45OB5;L=>AB8.
>@@5:F8>==0O:
÷
>15A?5G5=85 :>@@5:F88 =0@CH5=89 @0728B8O 8 A>F80;L=>9 040?B0F88
2>A?8B0==8:>2.
"EAB6AO9 A4CD46?9AB= 8<47ABEF<><
803=>AB8:0 2:;NG05B 2 A51O A;54CNI85 =0?@02;5=8O 8 284K:
÷
040?B0F8O 45B59 : CA;>28O< "' (040?B0F8>==K5 ;8ABK 4;O 3@C??
45B59 2 2>7@0AB5 >B 2 <5AOF52 4> 3 ;5B).
÷
$57C;LB0BK =01;N45=8O 2 E>45 ?5403>38G5A:>9 4803=>AB8:8
D8:A8@CNBAO 2 6C@=0;5 (B5B@048) 4;O 8=48284C0;L=>3> @0728B8O @515=:0, A
?>A;54CNI8< 70=5A5=85< 8=D>@<0F88 2 4803=>AB8G5A:85 :0@BK.
÷
803=>AB8G5A:85 :0@BK 70?>;=ONBAO 2 M;5:B@>==>< D>@<0B5 Excel,
12

345 A>45@60=85 <>=8B>@8=30 2KAB@>5=> A CG5B>< 2>7@0AB0 2>A?8B0==8:>2,
A>45@60=8O ("# ", B@51>20=89 ("% ".
%D98EF64 < @9FB8O E5BD4  040?B0F88 70?>;=ONBAO 2 B5G5=88 <5AOF0 ?@>E>645=8O
040?B0F88 2>A?8B0==8:0<8 2 2>7@0AB5 >B 2 <5AOF52 4> 3 ;5B. #5403>3 G5@57
=01;N45=85, 2 E>45 >1I5=8O, 83@>2>3> 2708<>459AB28O >B<5G05B <><5=BK 2
:0@B5. (#>;>65=85 > #5403>38G5A:>< <>=8B>@8=35 "')
 6C@=0;5 ?> 8=48284C0;L=>A?8B0==8:0<8 "'
?5403>3 >B<5G0NB A2>8 @57C;LB0BK =01;N45=89. 064K9 MB0? 459AB289 ?>
A>?>AB028B5;L=>2 "# " A CG5B>< B@51>20=89 ("# "
8 20@80B82=>9 G0AB8 ?0@F80;L=KE ?@>3@0<< ?>4@07C<5205B >1>7=0G5=85
(A<.40;55), 0 B01;8FK Excel 70?>;=ONBAO 2 F25B>2>< D>@<0B5 (A<. 40;55):
«#>;=>ABLN A>>B25BAB2C5B» (40;55 #% «++» 2 6C@=0;5 =01;N45=8O, 2 ExcelB01;8F5 F25B >1>7=0G5=8O -75;5=K9, 10;;=3), «+0AB8G=> A>>B25BAB2C5B»
(40;55 +% «+-» 2 6C@=0;5 =01;N45=8O, 2 Excel-B01;8F5 F25B >1>7=0G5=8O 65;BK9, 10;;=2), «!5 A>>B25BAB2C5B» (40;55 !% «-»2 6C@=0;5 =01;N45=8O, 2
Excel-B01;8F5-:@0A=K9, 10;;=1) >1O70B5;L=>45@60=8O,
7040==>9 ?@>3@0<<5. *25B>2>5 >1>7=0G5=85 AB028BAO 2
A>>B25BAB2CNI5< AB>;1F5, ?>4AG5B :>;8G5AB20 A>2?045=89 ?@>E>48B ?>
D>@AB8G5A:85 :0@BK 70?>;=ONBAO ?> @57C;LB0B0< 6C@=0;0 (B5B@048)
8=48284C0;L=>3> =01;N45=8O 70 2>A?8B0==8:0<8, G5@57 =01;N45=85 70
83@>2>9 45OB5;L=>ABLN, G5@57 A>740=85 83@>2KE, ?>7=020B5;L=KE A8BC0F89,
A8BC0F89 >1I5=8O, G5@57 @07=K5 284K 45OB5;L=>AB59, G5@57 0=0;87 ?@>4C:B>2
45OB5;L=>AB8
#9DB= 8<47ABEF<><
0?>;=5=85 6C@=0;0 (B5B@048) ?> 8=48284C0;L=>E>48B 2 B5G5=85 2A53> CG51=>3> 3>40, 70?>;=5=85 M;5:B@>==KE :0@B
?5403>38G5A:>9 4803=>AB8:8 ?@>E>48B 2 A;54CNI85 A@>:8:
1-5 ?>;C3>485 3 A5=BO1@L (?5@2K5 425 =545;8);
2-5 ?>;C3>485 3 <09 (?5@2K5 425 =545;8)
"B45;L=K5 <5B>4K >F5=:8 <>3CB 8A?>;L7>20BLAO 2 B5G5=85 3>40 ?> <5@5
=5>1E>48<>AB8 (?> 70?@>AC @>48B5;59 (70:>==KE ?@54AB028B5;59)) A F5;LN
D8:A0F88 48=0<8:8 8=48284C0;L=KE B@05:B>@89 @0728B8O 45B59.

:>=F5 CG51=>3>
3>40
?@>2>48BAO
A@02=8B5;L=K9
0=0;87
@57C;LB0B82=>AB8 >1@07>20B5;L=>3> ?@>F5AA0 8 =0 >A=>25 0=0;870
>?@545;O5BAO ?;0=8@>20=85 ?5403>38G5A:>9 45OB5;L=>AB8 =0 A;54CNI89
CG51=K9 3>4.
2.5.1.+4EFP, HBD@4@< B5D4;B64F9?PAOI BFABL9A<=
"F5=:0 8=48284C0;L=>3> @0728B8O 45B59 2 G0AB8, D>@<8@C5<>9
CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89 2E>48B 2 6C@=0; (B5B@04L)
13

=01;N45=8O 8 2 >1ICN 4803=>AB8G5A:CN :0@BC "# ", 2 M;5:B@>==CN
B01;8FC Excel ?> >1@07>20B5;L=K< >1;0ABO< 8 A>45@60=8O ?0@F80;L=KE
?@>3@0<<:
÷ &8<>D5520 .. «(>@<8@>20=85 :C;LBC@K 157>?0A=>AB8 C 45B59 >B 3 4> 8
;5B».#>:070B5;8 :>3=8B82=>9, M<>F8>=0;L=>-F5==>AB=>9 8 ?>2545=G5A:>9
AD5@
D8:A8@CNBAO 2 E>45 =01;N45=89.
÷ ..(5H8=0 «53> :>=AB@C8@>20=85 2 45BA:>< A04C», )0;0<>20 .!,
(@>;>2>9 $.. «>=AB@C8@>20=85» 2 @0<:0E @50;870F88 ?@>5:B0 «5BA:89
B5E=><8@» (:>@?CA «C@02CH:0») A;C60B =01;N45=8O, 15A54K,
AB@>8B5;L=>-:>=AB@C:B82=K5 83@K, <>45;8@>20=85 ?> 3@0D8G5A:8<
>1@07F0<.
÷
0B5@80;>< 4;O ?@>2545=8O 4803=>AB8:8 ?> ?@>3@0<<5 ««"B (@U15;O 4>
@>1>B0: @0AB8< 1C4CI8E 8=65=5@>2» (:>@?CA «5A=0O ?>;O=0») A;C60B
=01;N45=8O, 15A54K, 4840:B8G5A:85 83@K, A0<>AB>OB5;L=>ABL 2 2K1>@5
45OB5;L=>AB8,
>@30=870B>@A:85
A?>A>1=>AB8, <>45;8@>20=85 8
?@>3@0<<8@>20=85.
÷ 0B5@80;>< 4;O ?@>2545=8O 4803=>AB8:8 ?> >B45;L=K< G0ABO<,
@0745;0< ?@>3@0<< K:>2>9 .. «*25B=K5 ;04>H:8», «)C4>65AB25==K9
B@C4», «5BA:0O 157>?0A=>ABL», «>=AB@C8@>20=85 2 45BA:>< A04C» A;C60B
=01;N45=8O, <>45;8@>20=85, >1@07FK 45BA:>9 45OB5;L=>AB8.
÷
0B5@80;>< 4;O ?@>2545=8O 4803=>AB8:8 ?> G0AB8 «"1CG5=85 3@0<>B5»
?@>3@0< @0728B8N @5G8 8 ?>43>B>2:8 : >1CG5=8N 3@0<>B5 «#> 4>@>35 :
71C:5»
2B>@:
$.!.C=552;
..C=5520;
$.&.8A;>20
O2;ONBAO
A>45@60B5;L=K5 7040G8.
÷
0B5@80;>< 4;O ?@>2545=8O 4803=>AB8:8 CA2>5=8O ?0@F80;L=>9
?@>3@0<=0;L=K< :>=5=B>< «"B:@KB8O (55G:8 :>?55G:8»
..N18<>2>9 O2;ONBAO A>45@60B5;L=K5 7040G8 8 @5:><5=40F88 02B>@0.
÷
0B5@80;>< 4;O ?@>2545=8O 4803=>AB8:8 CA2>5=8O ?0@F80;L=>9
?@>3@0<-?0B@8>B8G5A:>5 2>A?8B0=85 45B59 4>H:>;L=>3>
2>7@0AB0» ./.5B>E8=>9 O2;ONBAO A>45@60B5;L=K5 @5:><5=40F88 02B>@0.
#5403>38G5A:0O 4803=>AB8:0 7025@H05BAO 0=0;87>< ?>;CG5==KE
40==KE, =0 >A=>25 :>B>@KE ?5403>3 2KAB@08205B 2708<>459AB285 A 45BL<8,
>@30=87C5B,
<>B828@CNICN
0:B82=CN
B2>@G5A:CN
45OB5;L=>ABL
>1CG0NI8EAO, A>AB02;O5B 8=48284C0;L=K5 >1@07>20B5;L=K5 <0@H@CBK
>A2>5=8O >1@07>20B5;L=>9 #@>3@0<A>7=0==> 8 F5;5=0?@02;5==>
?@>5:B8@C5B >1@07>20B5;L=K9 ?@>F5AA.#@8 =5>1E>48<>AB8 8A?>;L7C5BAO
?A8E>;>38G5A:0O 4803=>AB8:0 @0728B8O 45B59 (2KO2;5=85 8 87CG5=85
8=48284C0;L=>-?A8E>;>38G5A:8E >A>15==>AB59 45B59, ?@8G8= 2>7=8:=>25=8O
B@C4=>AB59 2 >A2>5=88 >1@07>20B5;L=>9 ?@>3@0<B>@CN ?@>2>4OB
:20;8D8F8@>20==K5 A?5F80;8ABK (?5403>38- ?A8E>;>38, ?A8E>;>38). 'G0AB85
@51U=:0 2 ?A8E>;>38G5A:>9 4803=>AB8:5 4>?CA:05BAO B>;L:> A A>3;0A8O 53>
@>48B5;59 (70:>==KE ?@54AB028B5;59). $57C;LB0BK ?A8E>;>38G5A:>9
14

4803=>AB8:8 <>3CB 8A?>;L7>20BLAO 4;O @5H5=8O 7040G ?A8E>;>38G5A:>3>
A>?@>2>645=8O 8 >:070=8O 04@5A=>9 ?A8E>;>38G5A:>9 ?><>I8.
III.%"$&0!/ $
(2 A>>B25BAB288 ("% "  ("# ")

3.1. CB89D:4F9?PAO9 ?B?PAB7B 6B;D4EF4 (EBJ<4?PAB->B@@GA<>4F<6AB7B, CB;A464F9?PAB7B,
D9K96B7B, IG8B:9EF69AAB-QEF9FB7B, H<;B7B D4;620B5;L=0O ?@>3@0<<0 (40;55 #@>3@0<<0) >?@545;O5B A>45@60B5;L=K5
;8=88 >1@07>20B5;L=>9 45OB5;L=>AB8, @50;87C5 >A=>2=K<
=0?@02;5=8O< @0728B8O 45B59 4>H:>;L=>3> 2>7@0AB0 (A>F80;L=>:><3>, ?>7=020B5;L=>3>, @5G52>3>, EC4>65AB25==>-MAB5B8G5A:>3>,
D878G5A:>3> @0728B8O) A CG5B>< B@51>20=89 ("# ".  :064>9
>1@07>20B5;L=>9 >1;0AB8 AD>@20=K 7040G8 8 A>45@60=85
>1@07>20B5;L=>9 45OB5;L=>AB8, ?@54CA<>B@5==>5 4;O >A2>5=8O 2 :064>9
2>7@0AB=>9 3@C??5 45B59 2 2>7@0AB5 >B 42CE <5AOF52 4> A5<8-2>AL<8 ;5B.
#@54AB02;5=K 7040G8 2>A?8B0=8O, =0?@02;5==K5 =0 ?@8>1I5=85 45B59 :
F5==>ABO< @>AA89A:>3> =0@>40, D>@<8@>20=85 C =8E F5==>AB=>3> >B=>H5=8O
: >:@C60NI5;55 :>=:@5B=>5 8 48DD5@5=F8@>20==>5 ?> 2>7@0AB0< >?8A0=85
2>A?8B0B5;L=KE 7040G ?@82>48BAO 2 #@>3@0<<5 2>A?8B0=8O.
 B01;8F5 1 ?@54AB02;5=K AAK;:8 =0 7040G8 #@>3@0<H:>;L=>< CG@5645=88, =0 >A=>20=88 B@51>20=89 ("# ", AAK;:8 =0
A>45@60=85 #@>3@0<< B@51>20=89 ("# ".
%>45@60=85 8 7040G8 >1@07>20=8O ?> ?OB8 >1@07>20B5;L=K< >1;0ABO< 2
@0:C@A5 2A5E 2>7@0AB=KE 3@C?? 2 A>>B25BAB288 A ("# AB@. 20-136
&01;8F0 1.
B;D4EFAB=
C9DGCAOI ;484K
6BECB@@GA<>4F<6AB9 D4;62>:C?=KE 7040G
8B ?.18.1.1 ("# "
2>A?8B0=8O 2 @0<:0E 40==>9
>1@07>20B5;L=>9
>1;0AB8
?.18.2.1 ("# "
?.18.2.2 ("# "
=0?@02;5=> =0 ?@8>1I5=85 :
F5==>ABO<: @>48=0, ?@8@>40,
?.18.3.1 ("# "
?.18.3.2 ("# "
A525:,
687=L,
<8;>A5@485, 4>1@>, 4@C610,
?.18.4.1 ("# "
?.18.4.2 ("# "
A>B@C4=8G5AB2>, B@C4 (?.
15

F 4 8B 5 ?9F

?.18.5.1 ("# "

?.18.5.2 ("# "

F 5 8B 6 ?9F

?.18.6.1 ("# "

?.18.6.2 ("# "

18.8 ("# ").

?.18.7.1 ("# "
?.18.7.2 ("# "
2. #B;A464F9?PAB9 D4;62>:C?=KE 7040G
F 2 @9EOJ96 8B ?.19.1.1 ("# "
2>A?8B0=8O 2 @0<:0E 40==>9
1 7B84
>1@07>20B5;L=>9
>1;0AB8
?.19.2.1 ("# "
?.19.2.2 ("# "
F 1 8B 2 ?9F
=0?@02;5=> =0 ?@8>1I5=85 :
F5==>ABO<: G5;>25:, A57=0=85, $>48=0, ?@8@>40 (?.
19.8 ("# ").
?.19.4.1 ("# "
?.19.4.2 ("# "
F 3 8B 4 ?9F
F 6 8B 7 ?9F

F 4 8B 5 ?9F

?.19.5.1 ("# "

?.19.5.2 ("# "

F 5 8B 6 ?9F

?.19.6.1 ("# "

?.19.6.2 ("# "

F 6 8B 7 ?9F

?.19.7.1 ("# "

?.19.7.2 ("# "

3. $9K96B9 D4;62>:C?=KE 7040G
2>A?8B0=8O 2 @0<:0E 40==>9
>1@07>20B5;L=>9
>1;0AB8
=0?@02;5=> =0 ?@8>1I5=85 :
F5==>ABO<: :C;LBC@0, :@0A>B0
(?. 20.8 ("# ").

4. )G8B:9EF69AAB-QEF9FB9 D4;62>:C?=KE 7040G
F 2 @9EOJ96 8B ?.21.1.1 ("# "
2>A?8B0=8O 2 @0<:0E 40==>9
1 7B84
>1@07>20B5;L=>9
>1;0AB8
?.21.2.1 ("# "
?.21.2.2 ("# "
F 1 8B 2 ?9F
=0?@02;5=> =0 ?@8>1I5=85 :
F5==>ABO<: :C;LBC@0, :@0A>B0
?.21.3.1 ("# "
?.21.3.2 ("# "
F 2 8B 3 ?9F
(?. 21.8 ("# ").
F 3 8B 4 ?9F

?.21.4.1 ("# "

?.21.4.2 ("# "
16

F 4 8B 5 ?9F

?.21.5.1 ("# "

?.21.5.2 ("# "

F 5 8B 6 ?9F

?.21.6.1 ("# "

?.21.6.2 ("# "

F 6 8B 7 ?9F

?.21.7.1 ("# "

?.21.7.2 ("# "
5. (<;B9 D4;62>:C?=KE

7040G

2>A?8B0=8O 2 @0<:0E 40==>9
>1@07>20B5;L=>9

>1;0AB8

=0?@02;5=> =0 ?@8>1I5=85 :
F5==>ABO<: 687=L, 74>@>2L5
(?. 22.8 ("# ").

3.2. "CB6, EC9J4 H:>;L=>5 >1@07>20=85 <>65B 1KBL ?>;CG5=> 2 "", 0 B0:65 2=5 5U - 2
D>@<5 A5<59=>3> >1@07>20=8O. (>@<0 ?>;CG5=8O " >?@545;O5BAO @>48B5;O<8
(70:>==K<8
?@54AB028B5;O<8)
=5A>25@H5==>;5B=53>
>1CG0NI53>AO,
?@>?8AK205BAO 2 4>3>2>@5, 70:;NG5==>< <564C "' 8 @>48B5;O<8 (70:>==K<8
?@54AB028B5;O<8). #@8 2K1>@5 @>48B5;O<8 (70:>==K<8 ?@54AB028B5;O<8)
=5A>25@H5==>;5B=53> >1CG0NI53>AO D>@;CG5=8O 4>H:>;L=>3> >1@07>20=8O
CG8BK205BAO <=5=85 @51U=:0. "1@07>20B5;L=0O >@30=870F8O 8A?>;L7C5B A5B52CN
D>@3@0<B45;L=KE :>=5=B>2 #@>3@0<459AB2CO A
?@54AB028B5;O<8 A>F80;L=KE AB@C:BC@ 8 CG@5645=89 81;8>B5:0, C759, 0;5@5O, &50B@ @0<5488, @B-%BC48O, >;>=B5@A:85
42865=8O, C=8F8?0;L=K5 0:F88, .#, "' %", 7 7,  «-@8A» 8 4@.

17

#@8 @50;870F88 #@>3@0<;L7CNBAO @07;8G=K5 >1@07>20B5;L=K5
B5E=>;>388, 2 B>< G8A;5 48AB0=F8>==K5. #@8<5=5=85 M;5:B@>==>3> >1CG5=8O,
48AB0=F8>==KE >1@07>20B5;L=KE B5E=>;>389, 0 B0:65 @01>B0 A M;5:B@>==K<8
A@54AB20<8 >1CG5=8O ?@8 @50;870F88 #@>3@0<ACI5AB2;O5BAO
2
A>>B25BAB288 A B@51>20=8O<8 %# 2.4.3648-20 8 %0=#8! 1.2.3685-21.

÷ +0ABL 4 AB0BL8 63 (545@0;L=>3> 70:>=0 >B 29 45:01@O 2012 3. 7 273-(- «"1 >1@07>20=88 2 $>AA89A:>9
(545@0F88» (%>1@0=85 70:>=>40B5;LAB20 $>AA89A:>9 (545@0F88, 2012, 7 53, AB. 7598).
÷ +0ABL 2 AB0BL8 13 (545@0;L=>3> 70:>=0 >B 29 45:01@O 2012 3. 7 273-(- «"1 >1@07>20=88 2 $>AA89A:>9
(545@0F88» (%>1@0=85 70:>=>40B5;LAB20 $>AA89A:>9 (545@0F88, 2012, 7 53, AB. 7598).

(>@A>1K, <5B>4K 8 A@54AB20 @50;870F88 #@>3@0<3
>?@545;O5B A0<>AB>OB5;L=> 2 A>>B25BAB288 A 7040G0<8 2>A?8B0=8O 8 >1CG5=8O,
2>7@0AB=K<8 8 8=48284C0;L=K<8 >A>15==>ABO<8 45B59, A?5F8D8:>9 8E
>1@07>20B5;L=KE ?>B@51=>AB59 8 8=B5@5A>2.
%>3;0A=> ("% " ?5403>3 <>65B 8A?>;L7>20BL @07;8G=K5 D>@3@0<>B25BAB288 A 284>< 45BA:>9 45OB5;L=>AB8 8
2>7@0AB=K<8 >A>15==>ABO<8 45B59:
1) 6 @?489AK9E>B@ 6B;D4EF9 (2 @9ESJ4 - 1 7B8): =5?>A@54AB25==>5
M<>F8>=0;L=>5 >1I5=85 A> 27@>A;K<;
42830B5;L=0O 45OB5;L=>ABL (?@>AB@0=AB25==>-?@54<5B=K5 ?5@5<5I5=8O,
E20B0=85, ?>;70=85, E>4L10, B0:B8;L=>-42830B5;L=K5 83@K);
?@54<5B=>-<0=8?C;OB82=0O 45OB5;L=>ABL (>@C489=K5 8 A>>B=>AOI85 459AB28O A
?@54<5B0<8);
@5G520O (A;CH0=85 8 ?>=8<0=85 @5G8 27@>A;>3>, 3C;5=85, ;5?5B 8 ?5@2K5 A;>20);
M;5<5=B0@=0O ABL (A;CH0=85 A=>25 ?>4@060=8O, ABL (>@C489=>-?@54<5B=K5 459AB28O - 5AB ;>6:>9, ?L5B 87
:@C6:8 8 4@C3>5);
M:A?5@8<5=B8@>20=85 A <0B5@80;0<8 8 25I5AB20<8 (?5A>:, 2>40, B5AB> 8
4@C385);
A8BC0B82=>-45;>2>5 >1I5=85 A> 27@>A;K< 8 M<>F8>=0;L=>-?@0:B8G5A:>5 A>
A25@AB=8:0<8 ?>4 @C:>2>4AB2>< 27@>A;>3>;
42830B5;L=0O
45OB5;L=>ABL
(>A=>2=K5
42865=8O,
>1I5@072820NI85
C?@06=5=8O, ?@>ABK5 ?>4286=K5 83@K);
83@>20O 45OB5;L=>ABL (>B>1@078B5;L=0O 8 AN65B=>->B>1@078B5;L=0O 83@0, 83@K A
4840:B8G5A:8<8 83@CH:0<8);
@5G520O (?>=8<0=85 @5G8 27@>A;>3>, A;CH0=85 8 ?>=8<0=85 AB8E>2, 0:B82=0O
@5GL);
87>1@078B5;L=0O 45OB5;L=>ABL (@8A>20=85, ;5?:0) 8 :>=AB@C8@>20=85 87 <5;:>3>
8 :@C?=>3> AB@>8B5;L=>3> <0B5@80;0;
18

A0<>>1A;C6820=85 8 M;5<5=B0@=K5 B@C4>2K5 459AB28O (C18@05B 83@CH:8,
?>4<5B05B 25=8:><, ?>;8205B F25BK 87 ;59:8 8 4@C3>5);
ABL (A;CH0=85 ;=8B5;LAB2>, @8B<8G5A:85 42865=8O).
3) 6 8BL>B?PAB@ 6B;D4EF9 (3 7B84 - 8 ?9F):
83@>20O 45OB5;L=>ABL (AN65B=>-@>;520O, B50B@0;87>20==0O, @568AA5@A:0O,
AB@>8B5;L=>-:>=AB@C:B82=0O, 4840:B8G5A:0O, ?>4286=0O 8 4@C385);
>1I5=85 A> 27@>A;K< (A8BC0B82=>-45;>2>5, 2=5A8BC0B82=>-?>7=020B5;L=>5,
2=5A8BC0B82=>-;8G=>AB=>5) 8 A25@AB=8:0<8 (A8BC0B82=>-45;>2>5, 2=5A8BC0B82=>45;>2>5);
@5G520O 45OB5;L=>ABL (A;CH0=85 @5G8 27@>A;>3> 8 A25@AB=8:>2, 0:B82=0O
480;>38G5A:0O 8 <>=>;>38G5A:0O @5GL);
?>7=020B5;L=>-8AA;54>20B5;LA:0O 45OB5;L=>ABL 8 M:A?5@8<5=B8@>20=85;
87>1@078B5;L=0O 45OB5;L=>ABL (@8A>20=85, ;5?:0, 0??;8:0F8O) 8 :>=AB@C8@>20=85
87 @07=KE <0B5@80;>2 ?> >1@07FC, CA;>28N 8 70ABL (>A=>2=K5 284K 42865=89, >1I5@072820NI85 8
A?>@B82=K5 C?@06=5=8O, ?>4286=K5 8 M;5<5=BK A?>@B82=KE 83@ 8 4@C385);
M;5<5=B0@=0O B@C4>20O 45OB5;L=>ABL (A0<>>1A;C6820=85, E>7O9AB25==>1KB>2>9 B@C4, B@C4 2 ?@8@>45, @CG=>9 B@C4);
ABL (A;CH0=85 8 ?>=8<0=85 872545=89,
?5=85, -@8B<8G5A:85 42865=8O, 83@0 =0 45BA:8E AB865=8O 7040G 2>A?8B0=8O 2 E>45 @50;870F88 #@>3@0<3
8A?>;L7C5B A;54CNI85 <5B>4K:
÷ >@30=870F88 >?KB0 ?>2545=8O 8 45OB5;L=>AB8 (?@8CG5=85 : ?>;>68B5;L=K<
D>@<0< >1I5AB25==>3> ?>2545=8O, C?@06=5=85, 2>A?8BK20NI85 A8BC0F88,
83@>2K5 <5B>4K);
÷ >A>7=0=8O 45BL<8 >?KB0 ?>2545=8O 8 45OB5;L=>AB8 (@0AA:07 =0 <>@0;L=K5
B5@< 8 ?@028; ?>2545=8O, GB5=85 EC4>65AB25==>9 ;8B5@0BC@K,
MB8G5A:85 15A54K, >1AC645=85 ?>ABC?:>2 8 687=5==KE A8BC0F89, ;8G=K9 ?@8<5@);
÷ <>B820F88 >?KB0 ?>2545=8O 8 45OB5;L=>AB8 (?>>I@5=85, <5B>4K @0728B8O
M<>F89, 83@K, A>@52=>20=8O, ?@>5:B=K5 <5B>4K).
#@8 >@30=870F88 >1CG5=8O 4>?>;=ONBAO B@048F8>==K5 <5B>4K (A;>25A=K5,
=03;O4=K5, ?@0:B8G5A:85) 2 >A=>2C :>B>@KE ?>;>65= E0@0:B5@ ?>7=020B5;L=>9
45OB5;L=>AB8 45B59:
1) ?@8 8A?>;L7>20=88 8=D>@<0F8>==>-@5F5?B82=>3> <5B>40 ?@54JO2;O5BAO
8=D>@<0F8O, >@30=87CNBAO 459AB28O @51U=:0 A >1J5:B>< 87CG5=8O (@0A?>7=0NI55
19

=01;N45=85, @0AA<0B@820=85 :0@B8=, 45<>=AB@0F8O :8=>- 8 480D8;L<>2, ?@>A<>B@
:>30 8;8 45B59, GB5=85);
2) @5?@>4C:B82=K9 <5B>4 ?@54?>;0305B A>740=85 CA;>289 4;O 2>A?@>872545=8O
?@54AB02;5=89 8 A?>A>1>2 45OB5;L=>AB8, @C:>2>4AB2> 8E 2K?>;=5=85<
(C?@06=5=8O =0 >A=>25 >1@07F0 ?5403>30, 15A540, A>AB02;5=85 @0AA:07>2 A >?>@>9
=0 ?@54<5B=CN 8;8 ?@54<5B=>-AE5<0B8G5A:CN <>45;L);
3) <5B>4 ?@>1;5<=>3> 87;>65=8O ?@54AB02;O5B A>1>9 ?>AB0=>2:C ?@>1;5F5AA5 >@30=870F88 >?KB>2, =01;N45=89;
4) ?@8 ?@8<5=5=88 M2@8AB8G5A:>3> <5B>40 (G0AB8G=>-?>8A:>2>3>) ?@>1;5<=0O
7040G0 45;8BAO =0 G0AB8 - ?@>1;5B>@KE ?@8=8<0NB CG0AB85 45B8
(?@8<5=5=85 ?@54AB02;5=89 2 =>2KE CA;>28OE);
5) 8AA;54>20B5;LA:89 <5B>4 2:;NG05B A>AB02;5=85 8 ?@54JO2;5=85
?@>1;5<=KE A8BC0F89, A8BC0F89 4;O M:A?5@8<5=B8@>20=8O 8 >?KB>2 (B2>@G5A:85
7040=8O, >?KBK, M:A?5@8<5=B8@>20=85). ;O @5H5=8O 7040G 2>A?8B0=8O 8 >1CG5=8O
?@8<5=O5BAO <5B>4 ?@>5:B>2. "= A?>A>1AB2C5B @0728B8N C 45B59
8AA;54>20B5;LA:>9 0:B82=>AB8, ?>7=020B5;L=KE 8=B5@5A>2, :><@G5A:8E A?>A>1=>AB59, =02K:>2 A>B@C4=8G5AB20 8 4@C3>5. K?>;=OO
A>2<5AB=K5 ?@>5:BK, 45B8 ?>;CG0NB ?@54AB02;5=8O > A2>8E 2>7<>6=>ABOE,
C<5=8OE, ?>B@51=>ABOE.
"ACI5AB2;OO 2K1>@ <5B>4>2 2>A?8B0=8O 8 >1CG5=8O, ?5403>3 CG8BK205B
2>7@0AB=K5 8 ;8G=>AB=K5 >A>15==>AB8 45B59, ?5403>38G5A:89 ?>B5=F80; :064>3>
<5B>40, CA;>28O 53> ?@8<5=5=8O, @50;87C53=>78@C5B
2>7<>6=K5 @57C;LB0BK.
#@8 @50;870F88 #@>3@0<38 <>3CB 8A?>;L7>20BL @07;8G=K5
A@54AB20, ?@54AB02;5==K5 A>2>:C?=>ABLN <0B5@80;L=KE 8 8450;L=KE >1J5:B>2:
45<>=AB@0F8>==K5 8 @0740B>G=K5; 287C0;L=K5, 0C489=K5, 0C48>287C0;L=K5;
5AB5AB25==K5 8 8A:CAAB25==K5; @50;L=K5 8 28@BC0;L=K5.
%@54AB20, 8A?>;L7CNBAO 4;O @0728B8O A;54CNI8E 284>2 45OB5;L=>AB8 45B59:
42830B5;L=>9 (>1>@C4>20=85 4;O E>4L1K, 1530, ?>;70=8O, ;070=LO, ?@K30=8O,
70=OB89 A < 8 4@C3>5);
?@54<5B=>9 (>1@07=K5 8 4840:B8G5A:85 83@CH:8, @50;L=K5 ?@54<5BK 8 4@C3>5);
83@>2>9 (83@K, 83@CH:8, 83@>2>5 >1>@C4>20=85 8 4@C3>5); :><9
(4840:B8G5A:89 <0B5@80;, ?@54<5BK, 83@CH:8, 2845>D8;L5);
?>7=020B5;L=>-8AA;54>20B5;LA:>9 8 M:A?5@8<5=B8@>20=8O (=0BC@0;L=K5
?@54<5BK 8 >1>@C4>20=85 4;O 8AA;54>20=8O 8 >1@07=>-A8<2>;8G5A:89 <0B5@80;, 2
B>< G8A;5 <0:5BK, ?;0:0BK, <>45;8, AE55);
GB5=8O EC4>65AB25==>9 ;8B5@0BC@K (:=838 4;O 45BA:>3> GB5=8O, 2 B>< G8A;5
0C48>:=838, 8;;NAB@0B82=K9 <0B5@80;);
20

B@C4>2>9 (>1>@C4>20=85 8 8=25=B0@L 4;O 2A5E 284>2 B@C40);
?@>4C:B82=>9 (>1>@C4>20=85 8 <0B5@80;K 4;O ;5?:8, 0??;8:0F88, @8A>20=8O 8
:>=AB@C8@>20=8O);
9 (45BA:85 5).

3.2.1.+4EFP, HBD@4@< B5D4;B64F9?PAOI BFABL9A<=
 G0AB8, D>@<8@C5<>9 CG0AB=8:0 >1@07>20B5;L=KE >B=>H5=89,
4>?>;=5=K D>@4K 8 A@54AB20, 8A?>;L7C530<8 4;O
@0728B8O 284>2 45OB5;L=>AB59:
(BD@O
D45BFO

÷
÷
÷
÷
÷
÷
÷

÷
÷
÷
÷
÷

÷
÷
÷
÷
÷
÷
÷
÷
÷
÷
÷
÷
÷

?@>83@K20=85 A>F80;L=KE A8BC0F89;
D>;L:;>@=K5 83@K, @072;5G5=8O
A>2<5AB=0O 83@0 2>A?8B0B5;O 8 45B59 (AN65B=>->B>1@078B5;L=0O
83@0, @568AA5@A:0O 83@0, 83@0-8<8B0F8O, 83@0-701020),
A>2<5AB=0O 83@0 A> A25@AB=8:>< (?0@=0O, 2 <0;>9 3@C??5),
83@K A ?@028;0<8,
:><<0=4=K5 83@K;
15A54K =@02AB25==>3> A>45@60=8O ?> 8;;NAB@0F8O<;
A8BC0F88 >1I5=8O 2>A?8B0B5;O A 45BL<8 ?> =0:>?;5=8N
?>;>68B5;L=>3> A>F80;L=>-M<>F8>=0;L=>3> >?KB0 (A8BC0B82=K9
@073>2>@);
?5403>38G5A:0O A8BC0F8O;
B@C4>2K5 ?>@CG5=8O.
2:;NG5=85 45B59 2 A>2<5AB=CN 45OB5;L=>ABL 4@C3 A 4@C3><
A5B52>5 2708<>459AB285 A A>F80;L=K<8 8=AB8BCB0<8 (H:>;0,
181;8>B5:0, 459AB285 <564C 3@C??0<8 45BA:>3> A040 (:>=:C@AK,
A>@52=>20=8O, A>2<5AB=K5 ?@074=8:8);ð
8=B5@0:B82=K5 8 682K5 M:A:C@A88;ð
:>;;5:F8>=8@>20=85.;ð
?@>5:B=0O 45OB5;L=>ABL;ð
?@074=8:8, 4>AC38, :25ABK;ð
8=B5@0:B82=K5 83@K;ð
B50B@0;87>20==K5 ?@54AB02;5=8O;ð
?@>4C:B82=0O B2>@G5A:0O 45OB5;L=>ABL;ð
4840:B8G5A:85 83@K, =0AB>;L=>-?5G0B=K5 83@K;ð
E>7O9AB25==>-1KB>2>9 B@C4;ð
:>;;5:B82=K9 B@C4.ð
@0AA<0B@820=85 M=F8:;>?5489, B5<0B8G5A:8E 0;L1><>2;ð
>D>@<;5=85 B5<0B8G5A:8E 0;L1><>2, ;5?1C:>2;ð
873>B>2;5=85 0B@81CB>2 : 83@0<.ð

21

5B>4K

%@54AB20

%;>25A=K5 <5B>4K:
÷ >1I5=85 ?5403>30 A @515=:><;
÷ ?@>1;5<=K5 15A54K;ð
÷ >1AC645=85 =01;N405A;54CNI55 >1AC645=85 8 0=0;87 EC4>65AB25==KE
?@>872545=89 <>@0;L=>- MB8G5A:>3> ?;0=0;ð
÷ GB5=85 EC4>65AB25==>9 8 ?>7=020B5;L=>9 ;8B5@0BC@K.ð
÷ 15A54K ?> AN65B=>9 :0@B8=5 / A5@88 :0@B8=>:, >B@060NI8E
@07;8G=K5 A8BC0F88 >1I5=8O <564C ;N4L<8;ð
÷ @5D;5:A8O A>1AB25==>3> ?>2545=8O @515=:0
#@0:B8G5A:85 <5B>4K:ð
÷ A>740=85 A>2<5AB=> A 45BL<8 ?@>4C:B>2 (:>;;0659, <=5<>B01;8F,
8=B5;;5:BC0;L=KE :0@B 8 B.4.);ð
÷
A>2<5AB=0O 87>1@078B5;L=0O 45OB5;L=>ABL (:>;;5:B82=K5 @01>BK,
?0@=K5 @8AC=:8 8 B.4.);ð
÷ >1J548=5=85 45B59 2 >1I59 45OB5;L=>AB8 (C:@0H5=85 3@C??K,
?>43>B>2:0 : ?@074=8:0<, A>@52=>20=8O 8 B.4.);ð
÷
?;0=8@>20=85 @515=:>< A2>59 45OB5;L=>AB8;ð
÷ A2>1>4=>5 A0<>2K@065=85 @515=:>< 2 8 GC2AB2
!03;O4=K5 <5B>4K:ð
÷ =01;N45=85 2 >:@C60NI5< <8@5 (?@8@>4=K9 <8@, A>F80;L=K9 <8@ 8
B.4.);
÷ ?@>A<>B@ ==KE CG51=KE D8;L<>2, 2845>AN65B>2,
?@575=B0F89, 8=B5@0:B82=K5 ?;0:0BK;
÷ ?@>A<>B@ 2, D@03<5=B>2 45BA:8E 2;
÷ B5E=>;>38G5A:85 :0@BK ?> ?@>5:B8@>20=8N 8 <>45;8@>20=8N;
÷ AE5@:8.
3@>2K5 2708<>459AB285.
÷ «?@54<5BK >?5@8@>20=8O» - 83@CH:8, 8<8B8@CNI85 @50;L=K5
?@54<5BK, >@C48O, 8=AB@C<5=BK, A@54AB20 G5;>25G5A:>9 45OB5;L=>AB8,
?>72>;ONI85 2>AA>74020BL AOI53> 459AB28O (02B><>18;8
@07=>3> @07<5@0, =01>@ 8=AB@C<5=B>2 4;O @5<>=B=KE @01>B,
:>;OA:8, :C:>;L=K9 4>< A <515;LN (:@>20BL, AB>;, ABC;LO, ?;8B0,
H:0D 8 4@.), =01>@ 4;O C1>@:8 A B5;56:>9 8 4@.);
÷ «83@CH:8-?5@A>=068» - :C:;K, D83C@:8 ;N459 8 682>B=KE,
÷ <0B5@80;, ?@54AB02;ONI89 @>;52K5 0B@81CBK, A?5F8D8G=K5 4;O
:0:>3>-;81> ?5@A>=060 (@>;8).

#@8 @50;870F88 G0AB8 #@>3@0<@<8@C5<>9 CG0AB=8:0<8
>1@07>20B5;L=KE >B=>H5=89, 8A?>;L7CNBAO B0:85 B5E=>;>388 :0::
&5E=>;>388 ;8G=>AB=>->@85=B8@>20==>3> 2708<>459AB28O ?5403>30 A 45BL<8
"
A<5=0
?5403>38G5A:>3>
2>7459AB28O
=0
?5403>38G5A:>5
2708<>459AB285; 87<5=5=85 =0?@02;5==>AB8 ?5403>38G5A:>3> «25:B>@0» 4
=5 B>;L:> >B 27@>A;>3> : @515=:C, => 8 >B @515=:0 : 27@>A;>A=>2=>9 4><8=0=B>9 O2;O5BAO
2KO2;5=85
;8G=>AB=KE
>A>15==>AB59 :064>3> @515=:0 :0: 8=48284C0;L=>3> AC1J5:B0 ?>7=0=8O 8
4@C38E 284>2 45OB5;L=>AB8;
"
A>45@60=85 >1@07>20=8O =5 4>;6=> ?@54AB02;OBL A>1>9 B>;L:>
;8HL =01>@ A>F8>:C;LBC@=KE >1@07F>2 2 2845 ?@028;, ?@85<>2 459AB28O,
?>2545=8O, >=> 2:;NG05B A>45@60=85 AC1J5:B=>3> >?KB0 @515=:0 :0: >?KB0

22

53> 8=48284C0;L=>9 687=545OB5;L=>AB8, 157 G53> A>45@60=85 >1@07>20=8O
AB0=>28BAO >157;8G5==K<, D>@<0;L=K<, =52>AB@51>20==K<.
&5E=>;>388 ?@>5:B=>9 45OB5;L=>AB8
"
?5403>3 AB028B ?5@54 A>1>9 F5;L, 8AE>4O 87 ?>B@51=>AB59 8
8=B5@5A>2 45B59;
"
2>2;5:05B 4>H:>;L=8:>2 2 @5H5=85 ?@>1;5445@68205B 8=B5@5A 45B59 8
@>48B5;59);
"
>1AC6405B ?;0= A A51@0I05BAO 70 @5:><5=40F8O<8 : A?5F80;8AB0< "';
"
2<5AB5 A 45BL<8 8 @>48B5;O<8 A>AB02;O5B ?;0=-AE52545=8O
?@>5:B0; A>18@05B 8=D>@<0F8N, <0B5@80;
"
?@>2>48B 70=OB8O, 83@K, =01;N45=8O, ?>574:8 (<5@>?@8OB8O
>A=>2=>9 G0AB8 ?@>5:B0);
"
?@>25@O5B A0<>AB>OB5;L=K5 B2>@G5A:85 @01>BK 45B59 8 @>48B5;59
(?>8A: <0B5@80;>2, 8=D>@<0F88, 873>B>2;5=88 ?>45;>:, @8AC=:>2, 0;L1><>2
8 B.?.);
"
>@30=87C5B ?@575=B0F8N ?@>5:B0 (?@074=8:, >B:@KB>5 70=OB85,
0:F8O), A>AB02;O5B :=83C, 0;L1>< A>2<5AB=K9 A 45BL<8;
"
?>42>48B 8B>38 (2KABC?05B =0 ?54A>25B5, >1>1I05B >?KB @01>BK).
&5E=>;>388 8AA;54>20B5;LA:>9 45OB5;L=>AB8
"
?@575=B0F88 =0 ?>7=020B5;L=K5 8=B5@5AK 45B59 (8AA;54>20=85 4
?@>F5AA B2>@G5A:89, B2>@G5AB2> =52>7<>6=> =02O70BL 872=5, >=> @>6405BAO
B>;L:> =0 >A=>25 2=CB@5==59 ?>B@51=>AB8, 2 40==>< A;CG05 =0 ?>B@51=>AB8
2 ?>7=0=88);
"
>?>@K =0 @0728B85 C<5=89 A0<>AB>OB5;L=>3> ?>8A:0 8=D>@<0F88;
"
A>G5B0=8O @5?@>4C:B82=KE 8 ?@>4C:B82=KE <5B>4>2 >1CG5=8O
(?A8E>;>38O CA2>5=8O A2845B5;LAB2C5B > B><, GB> ;53:> 8 =5?@>872>;L=>
CA208205BAO B>B <0B5@80;, :>B>@K9 2:;NG5= 2 0:B82=CN @01>BC @<8@>20=8O ?@54AB02;5=89 >1 8AA;54>20=88 :0: AB8;5 687=8.
"
=D>@<0F8>==> - :><==K5 B5E=>;>388.  "'
?@8<5=ONBAO D8;LG?PFGDAOI
CD4>F<>
>7@0AB=0O
:0B53>@8O 45B59
;045=G5A:89
$0==89 2>7@0AB

84K 45OB5;L=>AB8
3@K A
A>AB02=K<8 8
48=0<8G5A:8<8
83@CH:0<8
>1I5=85 A
27@>A;K<8 8
A>2<5AB=K5 83@K A>
A25@AB=8:0<8 ?>4

C;LBC@=K5 ?@0:B8:8
#@54<5B=0O
45OB5;L=>ABL
?>7=020B5;L=>8AA;54>20B5;LA:85
459AB28O A
?@54<5B0<8
M:A?5@8<5=B8@>20=85 A

"1@07>20B5;L=
K5
>1;0AB8
%>F80;L=>:><5@0728B85
#>7=020B5;L=
>5@0728B85
23

;04H89
4>H:>;L=K9
2>7@0AB

@C:>2>4AB2><
27@>A;>3>
2>A?@8OB85
A:,
AB8E>2
@0AA<0B@820=
85:0@B8=>:
42830B5;L=0O
45OB5;L=>ABL
3@>20O
45OB5;L=>ABL,
2:;NG0O AN65B=>@>;52CN 83@C :0:
254CICN
45OB5;L=>ABL45B59
4>H:>;L=>3>
2>7@0AB0
83@K A ?@028;0<8 8
4@C385 284K 83@K
:><ABL(>1I5=
858 2708<>459AB285
A> 27@>A;K<8 8
A25@AB=8:0<8)
2>A?@8OB85
EC4>65AB25==>9
;8B5@0BC@K 8
D>;L:;>@0

<0B5@80;0<8 8
25I5AB20<8
(?5A>:, 2>40, B5AB>)
459AB28O A 1KB>2K<8
?@54<5B0<8->@C48O<8
(;>6:0,
A>2>:, ;>?0B:0&)
A0<>>1A;C6820=85
#>7=020B5;L=>8AA;54>20B5;LA:0O
45OB5;L=>ABL
(8AA;54>20=8O >1J5:B>2
>:@C60NI53> <8@0 8
M:A?5@8<5=B8@>20=8O A
=8<8);
A0<>>1A;C6820=85 8
M;5<5=B0@=K9 1KB>2>9
B@C4 (2 ?><5I5=88 8 =0
C;8F5);
:>=AB@C8@>20=85 87
@07=>3> <0B5@80;0,
2:;NG0O :>=AB@C:B>@K,
<>4C;8, 1C<03C,
?@8@>4=K9 8 8=>9
<0B5@80;

$5G52>5 @0728B85
(878G5A:>5
@0728B85

%>F80;L=>:><5@0728B85
#>7=020B5;L=
>5@0728B85
)C4>65AB25=
=>MAB5B8G5A:>5
@0728B85
$5G52>5 @0728B85
(878G5A:>5
@0728B85

87>1@078B5;L=0O
45OB5;L=>ABL
(@8A>20=85, ;5?:0,
0??;8:0F8O)
ABL
(?5=85, @8B<8G5A:85
42865=8O, 83@K =0
45BA:8E
ABL
(>2;045=85 >A=>2=K<8
42865=8O<8)

24

%B0@H89
4>H:>;L=K9
2>7@0AB

3@>20O
45OB5;L=>ABL,
2:;NG0O
AN65B=>@>;52CN 83@C
:0: 254CICN
45OB5;L=>ABL
45B59
4>H:>;L=>3>
2>7@0AB0
83@K A
?@028;0<8 8
4@C385 284K
83@K
:><ABL
(>1I5=85
8 2708<>459AB285
A>27@>A;K<8 8
A25@AB=8:0<8)
2>A?@8OB85
EC4>65AB25==>9
;8B5@0BC@K 8
D>;L:;>@0

#@>5:B=0O 45OB5;L=>ABL
?@>AB59H85 >?KBK
M:A?5@8<5=B8@>20=85
M:>;>38G5A:85
?@0:B8:C;>38G5A:8
>@85=B8@>20==0O

B@C4>20O 45OB5;L=>ABL
?@8@>4>>E@0==0O
?@0:B8:0
0:F88
?@8@>4>?>;L7>20=85
:>;;5:F8>=8@>20=85
A1>@ 35@10@852
<>45;8@>20=85

%>F80;L=>:><5@0728B85
#>7=020B5;L=
>5@0728B85

)C4>65AB25=
=>MAB5B8G5A:>5
@0728B85
$5G52>5 @0728B85
(878G5A:>5
@0728B85

3.4. %CBEB5O < A4CD46?9A< 89FE>B= B7B
>B??9>F<64 E E9@PS@< 6BECB6.
3.4.1.%CBEB5O < A4CD46?9AB= B=
4O 89OF9?PABEFP E
CD98@9F4@<, @4F9D<4?4@<, 69M9EF64@<; B5B74M9A<9 EB5EF69AAB7B
E9AEBDAB7B BCOF4 6BECDDG:4NM97B @AB02;OBL 45BO< A0<>AB>OB5;L=>ABL 2> 2AU<, GB> =5 ?@54AB02;O5B
>?0A=>AB8 4;O 8E 687=8 8 74>@>2LO, ?><>30O 8<, @50;87>20BL A>1AB25==K5
70B<5G0BL 8 ?@825BAB2>20BL 4065 <8=8<0;L=K5 CA?5E8 45B59.
!5
:@8B8:>20BL @57C;LB0BK 45OB5;L=>AB8 @51U=:0 8 53> A0<>3> :0: ;8G=>ABL,
D>@<8@>20BL C 45B59 ?@82KG:C A0<>AB>OB5;L=> =0E>48BL 4;O A51O 8=B5@5A=K5
70=OB8O,
?@8CG0BL A2>1>4=> ?>;L7>20BLAO 83@CH:0<8 8 ?>A>18O<8,
?>A;54>20B5;L=> 7=0:><8BL 45B59 A 3@C??>9, 4@C38<8 ?><5I5=8O<8 8
A>B@C4=8:0<8
45BA:>3> A040, B5@@8B>@859 ?@>3C;>G=KE CG0AB:>2 A
F5;LN ?>2KH5=8O A0<>AB>OB5;L=>AB8. #@>4>;60BL:
÷ ?>1C640BL 45B59 :
@07=>>1@07=K< 459AB28O< A
?@54<5B0<8,
=0?@02;5==K< =0
>7=0:><;5=85 A 8E :0G5AB20<8 8 A2>9AB20<8
(2:;04K20=85 8 2K=8<0=85, @071>@ =0 G0AB8, >B:@K20=85 8 70:@K20=85,
?>41>@ ?> D>@<5 8 @07<5@C).
25

÷ ?>445@6820BL 8=B5@5A @51U=:0

: B> >= @0AA<0B@8205B 8

=01;N405B 2 @07=K5 @568<=K5 <><5=BK.
÷ CAB0=02;820BL ?@>ABK5 8 ?>=OB=K5 45BO< =>@
8A?>;=OBL 8E 8 A;548BL 70 8E 2K?>;=5=85< 2A5<8 45BL<8.
÷ 27@>A;K< M<>F8>=0;L=> ?>;>68B5;L=> =0AB@0820BLAO =0 45=L @01>BK,
?5@56820BL 53> :0: 40@, @04>20BLAO A>2<5AB=>AB8 ?@>6820=8O MB>3> 4=O A
45BL<8. 71530BL A8BC0F89 A?5H:8 45B59.
÷ 4;O ?>445@6:8 8=8F80B82K 2 ?@>4C:B82=>9 B2>@G5A:>9 45OB5;L=>AB8 ?>
C:070=8N @51U=:0 A>74020BL 4;O =53> 87>1@065=8O 8;8 ;5?:C, 4@C385 8745;8O;
÷ A>45@60BL 2 >B:@KB>< 4>ABC?5 87>1@078B5;L=K5 <0B5@80;K;
÷ ?>>I@OBL 70=OB8O 87>1@078B5;L=>9 45OB5;L=>ABLN, 2K@060BL >4>1@5=85
;N1>B=
F<6A4O 89OF9?PABEFP.
÷ A>74020BL CA;>28O 4;O @50;870F88 A>1AB25==KE ?;0=>2 8 702
:064>3> @51U=:0;
÷ @0AA:07K20BL 45BO< >1 8E @50;L=KE, 0 B0:65 2>7<>6=KE 2 1C4CI5<
4>AB865=8OE;
÷ >B<5G0BL 8 ?C1;8G=> ?>445@6820BL ;N1K5 CA?5E8 45B59;
÷ 2A5<5@=> ?>>I@OBL A0<>AB>OB5;L=>ABL 45B59 8 @0AH8@OBL 5U AD5@C;
÷ ?><>30BL @51U=:C =09B8 A?>A>1 @50;870F88 A>1AB25==KE ?>AB02;5==KE
F5;59, A?>A>1AB2>20BL AB@5<;5=8N =0CG8BLAO 45;0BL GB>-B> 8 ?>445@6820BL
@04>AB=>5 >ICI5=85 2>7@0AB0NI59 C<5;>AB8;
÷ 2 E>45 70=OB89 8 2 ?>2A54=52=>9 687=8 B5@?8<> >B=>A8BLAO :
70B@C4=5=8O< @51U=:0, ?>72>;OBL 520BL 2 A2>U< B520BL @57C;LB0BK 45OB5;L=>AB8 45B59, 0 B0:65 8E A0<8E.
"3@0=8G8BL :@8B8:C 8A:;NG8B5;L=> @57C;LB0B0<8 ?@>4C:B82=>9 45OB5;L=>AB8,
8A?>;L7CO 2 :0G5AB25 AC1J5:B0 :@8B8:8 83@>2K5 ?5@A>=068 (45B59 :@8B8:C5B
83@CH:0, 0 =5 ?5403>3);
÷ CG8BK20BL 8=48284C0;L=K5 >A>15==>AB8 45B59, AB@5<8BLAO =09B8
?>4E>4 : 70AB5=G82K<, =5@5H8B5;L=K<, :>=D;8:B=K<,
=5?>?C;O@=K< 45BO<;
÷ C2060BL 8 F5=8BL :064>3> @51U=:0 =57028A8<> >B 53> 4>AB865=89,
4>AB>8=AB2 8 =54>AB0B:>2;
÷ A>74020BL 2 3@C??5 ?>;>68B5;L=K9 ?A8E>;>38G5A:89 <8:@>:;8<0B, 2
@02=>9 <5@5 ?@>O2;OO ;N1>2L 8 701>BC :> 2A5< 45BO<: 2K@060BL @04>ABL ?@8
2AB@5G5, 8A?>;L7>20BL ;0A:C 8 BU?;>5 A;>2> 4;O 2K@065=8O A2>53> >B=>H5=8O :
@51U=:C, ?@>O2;OBL 45;8:0B=>ABL 8 B0:B8G=>ABL;
÷ 2A5340 ?@54>AB02;OBL 45BO< 2>7<>6=>AB8 4;O @50;870F88 8E 70@G5A:>9 ?@>4C:B82=>9 45OB5;L=>AB8.

26

"F 4 8B 5 ?9F: CDB= DG7B;BD4,
<7DB64S 89SF9?PABEFP EB E69DEFA<>4@<.
÷
A?>A>1AB2>20BL AB@5<;5=8N 45B59 45;0BL A>1AB25==K5 C<>70:;NG5=8O,
>B=>A8BLAO : B0:8< ?>?KB:0< 2=8<0B5;L=>, A C2065=85<;
÷
>15A?5G820BL 4;O 45B59 2>7<>6=>AB8 >ACI5AB2;5=8O 8E 65;0=8O
?5@5>4520BLAO 8 =0@O60BLAO, ?@8<5@820BL =0 A51O @07=K5 @>;8. <5BL 2 3@C??5
=01>@ 0B@81CB>2 8 M;5<5=B>2 :>ABN<>2 4;O ?5@5>4520=8O, 0 B0:65 B5E=8G5A:85
A@54AB20, >15A?5G820NI85 AB@5<;5=85 45B59 ?5BL 8 42830BLAO ?>4 74020BL CA;>28O, >15A?5G820NI85 45BO< 2>7<>6=>ABL AB@>8BL 4><,
C:@KB8O 4;O AN65B=KE 83@;
÷
?@8 =5>1E>48<>AB8 >AC640BL =530B82=K9 ?>ABC?>:, 459AB285 @51U=:0,
=> =5 4>?CA:0BL :@8B8:8 53> ;8G=>AB8, 53> :0G5AB2.
!530B82=K5 >F5=:8 4020BL B>;L:> ?>ABC?:0< @51U=:0 8 B>;L:> A 3;07C =0 3;07,
0 =5 ?5@54 2A59 3@C??>9;
÷
=5 4>?CA:0BL 48:B0B0, =02O7K20=8O 2 2K1>@5 45BL<8 AN65B0 83@K;
÷
>1O70B5;L=> CG0AB2>20BL 2 83@0E 45B59 ?> 8E ?@83;0H5=8N (8;8 ?@8 8E
4>1@>2>;L=>< A>3;0A88) 2 :0G5AB25 ?0@B=U@0, @02=>?@02=>3> CG0AB=8:0, => =5
@C:>2>48B5;O 83@K; ?@82;5:0BL 45B59 : C:@0H5=8N 3@C??K : ?@074=8:0<,
>1AC640O @07=K5 2>7<>6=>AB8 8 ?@54;>65=8O;
÷ ?>1C640BL 45B59 D>@<8@>20BL 8 2K@060BL A>1AB25==CN MAB5B8G5A:CN
>F5=:C 2>A?@8=8<05<>3>, =5 =02O7K20O 8< <=5=8O 27@>A;KE;
÷
?@82;5:0BL 45B59 : ?;0=8@>20=8N 687=8 3@C??K =0 45=L;
÷
G8B0BL 8 @0AA:07K20BL 45BO< ?> 8E ?@>AL15, 2:;NG0BL B= 4@<, 4
F4>:9 74020BL 2 3@C??5 ?>;>68B5;L=K9 ?A8E>;>38G5A:89 <8:@>:;8<0B, 2
@02=>9 <5@5 ?@>O2;OO ;N1>2L 8 701>BC :> 2A5<45BO<: 2K@060BL @04>ABL ?@8
2AB@5G5, 8A?>;L7>20BL ;0A:C 8 BU?;>5 A;>2> 4;O 2K@065=8O A2>53> >B=>H5=8O :
@51U=:C;
÷
C2060BL 8=48284C0;L=K5 2:CAK 8 ?@82KG:8 45B59;
÷
?>>I@OBL 65;0=85 A>74020BL GB>-;81> ?> A>1AB25==>1@0I0BL 2=8<0=85 45B59 =0 ?>;57=>ABL 1C4CI53> ?@>4C:B0 4;O 4@C38E 8;8 BC
@04>ABL, :>B>@CN >= 4>AB028B :> (<0<5, 101CH:5, ?0?5, 4@C3C);
÷
A>74020BL CA;>28O 4;O @07=>>1@07=>9 A0<>AB>OB5;L=>9 B2>@G5A:>9
45OB5;L=>AB8 45B59;
÷
?@8 =5>1E>48<>AB8 ?><>30BL 45BO< 2 @5H5=88 ?@>1;5< >@30=870F88
83@K;
÷
?@82;5:0BL 45B59 : ?;0=8@>20=8N 687=8 3@C??K =0 45=L 8 =0 1>;55
>B40;U==CN ?5@A?5:B82C. "1AC640BL 2K1>@ A?5:B0:;O 4;O ?>AB0=>2:8, ?5A=8,
B0=F0 8 B. ?.;
÷
A>74020BL CA;>28O 8 2K45;OBL 2@5AB>OB5;L=>9 B2>@G5A:>9
8;8 ?>7=020B5;L=>9 45OB5;L=>AB8 45B59 ?> 8=B5@5A0<.
27

"F 6 8B 7(8) ?9F: CDB=
B@C9F9AFABEF< 6
D4;?FB= CD98@9FAB=, 6 FB@ K:9 48BL 045:20B=CN >F5=:C @57C;LB0B0 45OB5;L=>AB8 @51U=:0 A
>4=>2@5<5==K< ?@87=0=85< 53> CA8;89 8 C:070=85< 2>7<>6=KE ?CB59 8
A?>A>1>2 A>25@H5=AB2>20=8O ?@>4C:B0 45OB5;L=>AB8;
÷
A?>:>9=> @5038@>20BL =0 =5CA?5E @51U=:0 8 ?@54;030BL =5A:>;L:>
20@80=B>2 8A?@02;5=8O @01>BK: ?>2B>@=>5 8A?>;=5=85 A?CABO =5:>B>@>5
2@545;K20=85, A>25@H5=AB2>20=85 45B0;59 8 B. ?. $0AA:07K20BL 45BO< >
B@C4=>ABOE, :>B>@K5 ?5403>38 8A?KBK20;8 ?@8 >1CG5=88 =>2K< 2840<
45OB5;L=>AB8;
÷
A>74020BL A8BC0F88, ?>72>;ONI85 @51U=:C @50;87>2K20BL A2>N
:>ABL, >1@5B0O C2065=85 8 ?@87=0=85 27@>A;KE 8 A25@AB=8:>2;
÷
?>445@6820BL GC2AB2> 3>@4>AB8 70 A2>9 B@C4 8 C4>2;5B2>@5=85 53>
@57C;LB0B0<8;
÷
A>74020BL CA;>28O 4;O @07=>>1@07=>9 A0<>AB>OB5;L=>9 B2>@G5A:>9
45OB5;L=>AB8 45B59;
÷
?@8 =5>1E>48<>AB8 ?><>30BL 45BO< 2 @5H5=88 ?@>1;5< ?@8 >@30=870F88
83@K;
÷
?@82;5:0BL 45B59 : ?;0=8@>20=8N 687=8 3@C??K =0 45=L, =545;N,
<5AOF. 'G8BK20BL 8 @50;87>20BL 8E ?>65;0=8O 8 ?@54;>65=8O;
÷
A>74020BL CA;>28O 8 2K45;OBL 2@5AB>OB5;L=>9 B2>@G5A:>9
8;8 ?>7=020B5;L=>9 45OB5;L=>AB8 45B59 ?> 8=B5@5A0<; CAB@0820BL 2KAB02:8 8
:@0A82> >D>@<;OBL ?>AB>O==CN M:A?>78F8N @01>B.
;O ?>445@6:8 45BA:>9 8=8F80B82K ?5403>3 4>;65= CG8BK20BL
A;54CNI85 CA;>28O (("# "):
1) C45;OBL 2=8<0=85 @0728B8N 45BA:>3> 8=B5@5A0 : >:@C60NI5>I@OBL 65;0=85 @51U=:0 ?>;CG0BL =>2K5 7=0=8O 8 C<5=8O, >ACI5AB2;OBL
45OB5;L=>AB=K5 ?@>1K 2 A>>B25BAB288 A> A2>8<8 8=B5@5A0<8, 704020BL
?>7=020B5;L=K5 2>?@>AK;
2) >@30=87>2K20BL A8BC0F88, A?>A>1AB2CNI85 0:B82870F88 ;8G=>3>
>?KB0 @51U=:0 2 45OB5;L=>AB8, ?>1C640NI85 45B59 : ?@8<5=5=8N 7=0=89,
C<5=89 ?@8 2K1>@5 A?>A>1>2 45OB5;L=>AB8;
3) @0AH8@OBL 8 CA;>6=OBL 2 A>>B25BAB288 A 2>7<>6=>ABO<8 8
>A>15==>ABO<8 @0728B8O 45B59 >1;0ABL 7040G, :>B>@K5 @51U=>: A?>A>15= 8
65;05B @5H8BL A0<>AB>OB5;L=>, C45;OBL 2=8<0=85 B0:8< 7040G0<, :>B>@K5
A?>A>1AB2CNB 0:B82870F88 C @51U=:0 B2>@G5AB20, A>>1@078B5;L=>AB8, ?>8A:0
=>2KE ?>4E>4>2;
4) ?>>I@OBL ?@>O2;5=85 45BA:>9 8=8F80B82K 2 B5G5=85 2A53> 4=O
?@51K20=8O @51U=:0 2 "", 8A?>;L7CO ?@85445@6:8, >4>1@5=8O,
?>E20;K;
28

5) A>74020BL CA;>28O 4;O @0728B8O ?@>872>;L=>AB8 2 45OB5;L=>AB8,

8A?>;L7>20BL 83@K 8 C?@06=5=8O, =0?@02;5==K5 =0 B@5=8@>2:C 2>;52KE
CA8;89, ?>445@6:C 3>B>2=>AB8 8 65;0=8O @51U=:0 ?@5>4>;520BL B@C4=>AB8,
4>2>48BL 45OB5;L=>ABL 4> @57C;LB0B0;
6) ?>>I@OBL 8 ?>445@6820BL 65;0=85 45B59 ?>;CG8BL @57C;LB0B
45OB5;L=>AB8, >1@0I0BL 2=8<0=85 =0 206=>ABL AB@5<;5=8O : :0G5AB25==>4A:07K20BL @51U=:C, ?@>O2;ONI5ABL 8 @02=>4CH85
: @57C;LB0BC, :0: <>6=> 4>25AB8 45;> 4> :>=F0, :0:85 ?@856=>
8A?>;L7>20BL, GB>1K ?@>25@8BL :0G5AB2> A2>53> @57C;LB0B0;
7) 2=8<0B5;L=> =01;N40BL 70 ?@>F5AA>< A0<>AB>OB5;L=>9 45OB5;L=>AB8
45B59, 2 A;CG05 =5>1E>48<>AB8 >:07K20BL 45BO< ?><>IL, => AB@5<8BLAO : 5U
4>78@>20=8N. A;8 @51U=>: 8A?KBK205B A;>6=>AB8 ?@8 @5H5=88 C65
7=0:><>9 5340 87<5=8;0AL >1AB0=>2:0 8;8 8=K5 CA;>28O
45OB5;L=>AB8, B> F5;5A>>1@07=> 8 4>AB0B>G=> 8A?>;L7>20BL ?@854OI8E 2>?@>A>2, 0:B82878@>20BL A>1AB25==CN 0:B82=>ABL 8 A<5:0;:C
@51U=:0, =0<5:=CBL, ?>A>25B>20BL 2A?><=8BL, :0: >= 459AB2>20; 2
0=0;>38G=>< A;CG05;
8) ?>445@6820BL C 45B59 GC2AB2> 3>@4>AB8 8 @04>AB8 >B CA?5H=KE
A0<>AB>OB5;L=KE 459AB289, ?>4G5@:820BL @>AB 2>7<>6=>AB59 8 4>AB865=89
:064>3> @51U=:0, ?>1C640BL : ?@>O2;5=8N 8=8F80B82K 8 B2>@G5AB20 G5@57
8A?>;L7>20=85 ?@85<>2 ?>E20;K, >4>1@5=8O, 2>AE8I5=8O.
 2>7@0AB5 3-4 ;5B C @51U=:0 0:B82=> ?@>O2;O5BAO ?>B@51=>ABL 2
>1I5=88 A> 27@>A;K<, @51U=>: AB@5<8BAO G5@57 @073>2>@ A ?5403>3>< ?>7=0BL
>:@C60NI89 <8@, C7=0BL >1 8=B5@5ACNI8E 53> 459AB28OE, A2545=8OE.
#>MB>: 70405B @07;8G=>3> @>40 2>?@>AK. 06=> ?>445@60BL 40==>5
AB@5<;5=85 @51U=:0, ?>>I@OBL ?>7=020B5;L=CN 0:B82=>ABL 45B59 <;04H53>
4>H:>;L=>3> 2>7@0AB0, 8A?>;L7>20BL ?5403>38G5A:85 ?@851A;54>20BL 8E A2>9AB20 8 :0G5AB20. #5403>3C 206=> ?@>O2;OBL 2=8<0=85 :
45BA:8< 2>?@>A0<, ?>>I@OBL 8 ?>445@6820BL 8E ?>7=020B5;L=CN 0:B82=>ABL,
A>74020BL A8BC0F88, ?>1C640NI85 @51U=:0 A0<>AB>OB5;L=> 8A:0BL @5H5=8O
2>7=8:0NI8E ?@>1;5<, >ACI5AB2;OBL 45OB5;L=>AB=K5 ?@>1K. #@8
?@>5:B8@>20=88 @568<0 4=O ?5403>3 C45;O5B >A>1>5 2=8<0=85 >@30=870F88
20@80B82=KE 0:B82=>AB59 45B59, GB>1K @51U=>: ?>;CG8; 2>7<>6=>ABL
CG0AB2>20BL 2 @07=>>1@07=KE 45;0E: 2 83@0E, 2 M:A?5@8<5=B0E, 2 @8A>20=88, 2
>1I5=88, 2 B2>@G5AB25 (8<8B0F88, B0=F520;L=K5 82870F88 8 B>4>1=>5), 2 42830B5;L=>9 45OB5;L=>AB8.
% G5BK@5E-?OB8 ;5B C 45B59 =01;N405BAO 2KA>:0O 0:B82=>ABL. 0==0O
?>B@51=>ABL @51U=:0 O2;O5BAO :;NG52K< CA;>285< 4;O @0728B8O

29

A0<>AB>OB5;L=>AB8 2> 2A5E AD5@0E 53> 687=8 8 45OB5;L=>AB8. #5403>3C 206=>
>1@0I0BL >A>1>5 2=8<0=85 =0 >A2>5=85 45BL<8 A8AB5>1@07=KE
>1A;54>20B5;LA:8E 459AB288, ?@85<>2 ?@>AB59H53> 0=0;870, A@02=5=8O,
C<5=8O =01;N40BL 4;O ?>445@6:8 A0<>AB>OB5;L=>AB8 2 ?>7=020B5;L=>9
45OB5;L=>AB8. #5403>3 =0<5@5==> =0AKI05B 687=L 45B59 ?@>1;5<=K<8
?@0:B8G5A:8<8 8 ?>7=020B5;L=K<8 A8BC0F8O<8, 2 :>B>@KE 45BO< =5>1E>48<>
A0<>AB>OB5;L=> ?@8<5=8BL >A2>5==K5 ?@851E>48<>
4>1@>65;0B5;L=> 8 708=B5@5A>20==> >B=>A8BLAO : 45BA:8< 2>?@>A0< 8
?@>1;5<0<, 1KBL 3>B>2K< AB0BL ?0@B=5@>< 2 >1AC645=88, ?>445@6820BL 8
=0?@02;OBL 45BA:CN ?>7=020B5;L=CN 0:B82=>ABL, C45;OBL >A>1>5 2=8<0=85
4>25@8B5;L=>1I5=8N A @51U=:><.  B5G5=85 4=O ?5403>3 A>7405B
@07;8G=K5 A8BC0F88, ?>1C640NI85 45B59 ?@>O28BL 8=8F80B82C, 0:B82=>ABL,
65;0=85 A>2<5AB=> 8A:0BL 25@=>5 @5H5=85 ?@>1;5<5@=0O
45OB5;L=>ABL A?>A>1AB2C5B @0728B8N C @51U=:0 C<5=8O @5H0BL 2>7=8:0NI85
?5@54 =8<8 7040G8, GB> A?>A>1AB2C5B @0728B8N A0<>AB>OB5;L=>AB8 8
C25@5==>AB8 2 A515. #5403>3 AB@5<8BAO A>74020BL B0:85 A8BC0F88, 2 :>B>@KE
45B8 ?@8>1@5B0NB >?KB 4@C65A:>3> >1I5=8O, A>2<5AB=>9 45OB5;L=>AB8,
C<5=89 :><0=4=>9 @01>BK. -B> <>3CB 1KBL A8BC0F88 2>;>=B5@A:>9
=0?@02;5==>AB8: 2708<=>9 ?>445@6:8, ?@>O2;5=8O 2=8<0=8O : AB0@H8<,
701>BK > 682>B=KE, 15@56=>3> >B=>H5=8O : 25I0< 8 83@CH:0<.
06=>, GB>1K C @51U=:0 2A5340 1K;0 2>7<>6=>ABL 2K1>@0 A2>1>4=>9
45OB5;L=>AB8, ?>MB>1>@C4>20=85 4;O 45BA:8E 284>2
45OB5;L=>AB8 4>;6=K 1KBL 4>AB0B>G=> @07=>>1@07=K<8 8 ?>AB>O==>
<5=ONI8<8AO (A<5=0 ?@8<5@=> @07 2 420 <5AOF0).
5B8 ?OB8-A5<8 ;5B 8<5NB O@:CN ?>B@51=>ABL 2 A0<>CB25@645=88 8
?@87=0=88 A> AB>@>=K 27@>A;KE. #>MB>3C 206=> >1@0B8BL 2=8<0=85
=0 B5 ?5403>38G5A:85 CA;>28O, :>B>@K5 @072820NB 45BA:CN A0<>AB>OB5;L=>ABL,
8=8F80B82C 8 B2>@G5AB2>. ;O MB>3> ?5403>3 A>7405B A8BC0F88,
0:B82878@CNI85 65;0=85 45B59 ?@8<5=OBL A2>8 7=0=8O 8 C<5=8O, 8<5NI89AO
>?KB 4;O A0<>AB>OB5;L=>3> @5H5=8O 7040G. "= @53C;O@=> ?>>I@O5B
AB@5<;5=85 : A0<>AB>OB5;L=>AB8, AB0@05BAO >?@545;OBL 4;O 45B59 2A5 1>;55
A;>6=K5 7040G8, 0:B82878@CO 8E CA8;8O, @072820O ?@>872>;L=K5 C<5=8O 8
2>;N, ?>AB>O==> ?>445@68205B 65;0=85 ?@5>4>;520BL B@C4=>AB8 8 ?>>I@O5B
@51U=:0 70 AB@5<;5=85 : B0:8< 459AB28O<, =0F5;8205B =0 ?>8A: =>2KE,
B2>@G5A:8E @5H5=89 2>7=8:H8E 70B@C4=5=89.
;O ?>445@6:8 45BA:>9 8=8F80B82K ?5403>3C @5:><5=4C5BAO
8A?>;L7>20BL @O4 A?>A>1>2 8 ?@85<>2.
1) !5 A;54C5B A@07C ?><>30BL @51U=:C, 5A;8 >= 8A?KBK205B
70B@C4=5=8O @5H5=8O 7040G8, 206=> ?>1C640BL 53> : A0<>AB>OB5;L=>4104@820BL 8 ?>>I@OBL ?>?KB:8 =09B8 @5H5=85.  A;CG05
=5>1E>48<>AB8 >:070=8O ?><>I8 @51U=:C, ?5403>3 A=0G0;0 AB@5<8BAO : 5U
<8=8<870F88: ;CGH5 40BL A>25B, 7040BL =02>4OI85 2>?@>AK, 0:B82878@>20BL
8<5NI89AO C @51U=:0 ?@>H;K9 >?KB.
2) ' @51U=:0 2A5340 4>;6=0 1KBL 2>7<>6=>ABL A0<>AB>OB5;L=>3>
@5H5=8O ?>AB02;5==KE 7040G. #@8 MB>< ?5403>3 ?><>305B 45BO< 8A:0BL @07=K5
20@80=BK @5H5=8O >4=>9 7040G8, ?>>I@O5B 0:B82=>ABL 45B59 2 ?>8A:5,
?@8=8<05B ;N1K5 ?@54?>;>65=8O 45B59, A2O70==K5 A @5H5=85< 7040G8,
?>445@68205B 8=8F80B82C 8 B2>@G5A:85 @5H5=8O, 0 B0:65 >1O70B5;L=>
0:F5=B8@C5B 2=8<0=85 45B59 =0 :0G5AB25 @57C;LB0B0, 8E 4>AB865=8OE,
>4>1@O5B 8 E20;8B 70 @57C;LB0B, 2K7K205B C =8E GC2AB2> @04>AB8 8 3>@4>AB8 >B
CA?5H=KE A0<>AB>OB5;L=KE, 8=8F80B82=KE 459AB289.
3) "A>1>5 2=8<0=85 ?5403>3 C45;O5B >1I5=8N A @51U=:>< 2 ?5@8>4
?@>O2;5=8O :@878A0 A5<8 ;5B: E0@0:B5@=K5 4;O @51U=:0 87<5=5=8O 2
?>2545=88 8 45OB5;L=>AB8 AB0=>2OBAO ?>2>4>< 4;O A<5=K AB8;O >1I5=8O A
@51U=:><. 06=> C45;OBL 2=8<0=85 @51U=:C, C2060BL 53> 8=B5@5AK,
AB@5<;5=8O, 8=8F80B82K 2 ?>7=0=88, 0:B82=> ?>445@6820BL AB@5<;5=85 :
A0<>AB>OB5;L=>AB8. 5B8 A54L<>3> 3>40 687=8 >G5=L GC2AB28B5;L=K : <=5=8N
27@>A;KE. !5>1E>48<> ?>445@6820BL C =8E >ICI5=85 A2>53> 27@>A;5=8O,
2A5;OBL C25@5==>ABL 2 A2>8E A8;0E.
4) #5403>3 <>65B 0:F5=B8@>20BL 2=8<0=85 =0 >A2>5=88 @51U=:><
C=825@A0;L=KE C<5=89 >@30=870F88 A2>59 45OB5;L=>AB8 8 D>@<8@>20=88 C
=53> >A=>2 F5;5?>;030=8O: ?>AB028BL F5;L (8;8 ?@8=OBL 5U >B ?5403>30),
>14C<0BL A?>A>1K 5U 4>AB865=8O, >ACI5AB28BL A2>9 70F5=8BL
?>;CG5==K9 @57C;LB0B A ?>78F88 F5;8. 040G0 @0728B8O 40==KE C<5=89
AB028BAO ?5403>3>< 2 @07=KE 2840E 45OB5;L=>AB8. #5403>3 8A?>;L7C5B
A@54AB20, ?><>30NI85 45BO< ?;0=><5@=> 8 A0<>AB>OB5;L=> >ACI5AB2;OBL A2>9
70?>@=K5 AE545;8, ?>>?5@0F8>==K5 :0@BK.
5) %>740=85
B2>@G5A:8E A8BC0F89 2 83@>2>9, 9,
87>1@078B5;L=>9 45OB5;L=>AB8 8 B50B@0;870F88, 2 @CG=>< B@C45 B0:65
A?>A>1AB2C5B @0728B8N A0<>AB>OB5;L=>AB8 C 45B59. %>G5B0=85 C2;5:0B5;L=>9
B2>@G5A:>9 45OB5;L=>AB8 8 =5>1E>48<>AB8 @5H5=8O 7040G8 8 ?@>1;5 65;0=85 A0<>AB>OB5;L=> >?@545;8BL
70A>1K 8 D>@ 2>?;>I5=8O.
6) #5403>3
C45;O5B
>A>1>5
2=8<0=85
>1>30I5=8N
$##%,
>15A?5G820NI59 ?>445@6:C 8=8F80B82=>AB8 @51U=:0.  ?@>AB@0=AB25 3@C??K
?>O2;ONBAO ?@54<5BK, ?>1C640NI85 45B59 : ?@>O2;5=8N 8=B5;;5:BC0;L=>9
0:B82=>AB8. -B> <>3CB 1KBL =>2K5 83@K 8 <0B5@80;K, 45B0;8 =57=0:>9AB2, A;><0==K5 83@CH:8, =C640NI85AO 2 ?>G8=:5, 70H8D@>20==K5

31

70?8A8, ?>AK;:8, ?8AL<0-AE52K5 B08=AB25==K5 :=838 8 ?@>G55.
$07304K20O 70304:8, 70:;NG5==K5 2 B0:8E ?@54<5B0E, 45B8 CG0BAO @0AAC640BL,
0=0;878@>20BL, >BAB0820BL A2>N B>G:C 7@5=8O, AB@>8BL ?@54?>;>65=8O,
8A?KBK20NB @04>ABL >B:@KB8O 8 ?>7=0=8O.
3.4.2."EB59AABEF< 6;4<@B89=EF6B7B >B??9>F<64 E
E9@PS@< 6BECB6
(("# " AB@.148-152)
"A=>2=K5 7040G8 2 40==>< =0?@02;5=88 @5:><5=4>20=K ("# ".
$BD@O 6;4<@B89=EF6B6 CB A4CD46?9AB@@GA<>4F<6AB9 D4;648B5;59 : CG0AB8N 2 45BA:8E ?@074=8:0E (@07@01>B:0
2.
3.
4.

5.

6.
7.

8.

8459, ?>43>B>2:0 0B@81CB>2, @>;52>5 CG0AB85).
=:5B8@>20=85, B5AB8@>20=85 @>48B5;59, ?>41>@ A?5F80;L=>9
;8B5@0BC@K A F5;LN >15A?5G5=8O >1@0B=>9 A2O78 A A52545=85 B@5=8=3>2 A @>48B5;O<8: A?>A>1K @5H5=8O =5AB0=40@B=KE
A8BC0F89 A F5;LN ?>2KH5=8O :>?@>A0E 2>A?8B0=8O.
$0A?@>AB@0=5=85 8==>20F8>==KE ?>4E>4>2 : 2>A?8B0=8N 45B59 G5@57
@5:><5=4>20==CN
?A8E>;>3>-?5403>38G5A:CN
;8B5@0BC@C,
?5@8>48G5A:85 8740=8O.
#@82;5G5=85
@>48B5;59
:
A>2<5AB=K<
<5@>?@8OB8O<
?>
1;03>CAB@>9AB2C 8 A>740=8N CA;>289 2 3@C??5. "@30=870F8O
A>2<5AB=KE A @>48B5;O<8 ?@>3C;>: 8 M:A:C@A89 ?> 3>@>4C 8 53>
>:@5AB=>ABO<, A>740=85 B5<0B8G5A:8E 0;L1><>2.
7CG5=85 8 0=0;87 45BA:>-@>48B5;LA:8E >B=>H5=89 A F5;LN >:070=8O
?><>I8 45BO<.
$07@01>B:0 8=48284C0;L=KE ?@>3@0<< 2708<>459AB28O A @>48B5;O<8
?> A>740=8N ?@54<5B=>-?@>AB@0=AB25==>9 @072820NI59 9 A@54K 4;O
@0728B8O @51U=:0.
5A54K A 45BL<8 A F5;LN D>@<8@>20=8O C25@5==>AB8 2 B><, GB> 8E
;N1OB 8 > =8E 701>BOBAO 2 A5B6 CB A4CD46?9A@<8@>20=85 @>48B5;59 > A>45@60=88 8 687=545OB5;L=>AB8 45B59

2 "', 8E 4>AB865=8OE 8 8=B5@5A0E: G5AB865=8O.
2. #>7=020B5;L=>-83@>2K5 <8=8-F5=B@K 4;O 2708<>459AB28O @>48B5;59 A
45BL<8 2 CA;>28OE "',
32

3. KAB02:8 ?@>4C:B>2 45BA:>9 8 45BA:>-27@>A;>9 45OB5;L=>AB8 (@8AC=:8,

?>45;:8, @0AA:07K, ?@>5:BK 8 B.?.)
4. %>2<5AB=K5 4>AC38 8 <5@>?@8OB8O =0 >A=>25 ?0@B=U@A:>9 45OB5;L=>AB8
@>48B5;59 8 ?5403>3>2.
5. "B:@KBK5 <5@>?@8OB8O A 45BL<8 4;O @>48B5;59.
6. %>2<5AB=K5 4>AC38, ?@074=8:8, A=>25 2708<>459AB28O @>48B5;59 8 45B59.
7. %>2<5AB=K5 =01;N45=8O O2;5=89 ?@8@>4K, >1I5AB25==>9 687=8 A
>D>@<;5=85< ?;0:0B>2, :>B>@K5 AB0=>2OBAO 4>AB>O=85< 3@C??K.
#><>IL @>48B5;59 @51U=:C 2 ?>43>B>2:5 @0AA:070 8;8 =03;O4=KE
<0B5@80;>2 (87>1@078B5;L=0O 45OB5;L=>ABL, ?>41>@ 8;;NAB@0F89 8 4@.).
8. %>2<5AB=0O @01>B0 @>48B5;59 A @51U=:>< =04 A>740=85< A5<59=KE
0;L1><>2 « >O A5O @>4>A;>2=0O», «%5@B», «/ 682C 2 3>@>45 +09:>2A:89»,
«0: B4KE05<» 8 4@.
9. #@>2545=85 2AB@5G A @>48B5;O<8 A F5;LN 7=0:>D5AA8O<8,
D>@<8@>20=8O C2068B5;L=>3> >B=>H5=8O : ;N4O< B@C40.
10. "@30=870F8O A>2<5AB=KE 2KAB02>: «!0H8 C2;5G5=8O» A F5;LN
D>@<8@>20=8O C 45B59 C<5=8O A0<>AB>OB5;L=> 70=OBL A51O 8
A>45@60B5;L=> >@30=87>20BL 4>AC3.
11. %>740=85 2 3@C??5 «:>;;5:F89» - =01>@K >B:@KB>:, :0;5=40@59,
<8=5@0;>2 8 4@. ?@54<5B>2 4;O ?>7=020B5;L=>-B2>@G5A:>9 @01>BK.
12. %>2<5AB=>5
A>740=85 B5<0B8G5A:8E 0;L1><>2 M:>;>38G5A:>9
=0?@02;5==>AB8 «#B8FK», «82>B=K5», «$K1K», «*25BK» 8 B.4.
13. >A:@5A=K5 M:A:C@A88 @51U=:0 A @>48B5;O<8 ?> <8:@>@09>=C, 3>@>4C A
F5;LN 7=0:>2<5AB=K9 ?>8A: 8AB>@8G5A:8E A2545=89 > =U<.
14. %>2<5AB=K9
?>8A:
>B25B>2
=0
>1>7=0G5==K5
?5403>3><
?>7=020B5;L=K5 ?@>1;5?548OE, :=830E, 6C@=0;0E 8 4@C38E
8AB>G=8:0E.
$BD@O 6;4<@B89=EF6B6 CB A4CD46?9AA5I5=85 :C;LBC@=KE CG@5645=89 ?@8 CG0AB88 @>48B5;59 (B50B@,

2.

3.
4.
5.

181;8>B5:0, 2KAB02>G=K9 70; 8 4@.) A F5;LN @0AH8@5=8O
?@54AB02;5=89 >1 >:@C60NI5< <8@5 8 >1>30I5=85 A;>20@O 45B59,
D>@<8@>20=8O 045:20B=KE D>@< ?>2545=8O 2 >1I5AB25==KE <5AB0E,
2>A?8B0=8O ?>;>68B5;L=KE M<>F89 8 MAB5B8G5A:8E GC2AB2.
"@30=870F8O ?0@B=U@A:>9 45OB5;L=>AB8 45B59 8 27@>A;KE ?> 2K?CA:C
A5<59=KE 3075B 8 6C@=0;>2 A F5;LN >1>30I5=8O :><3>
>?KB0 4>H:>;L=8:>2; A>740=8O ?@>4C:B>2 B2>@G5A:>9 EC4>65AB25==>@5G52>9 45OB5;L=>AB8 (B5<0B8G5A:85 0;L1>A>1=>AB59 8 2>>1@065=8O.
%>2<5AB=K5 4>AC38, ?@074=8:8, ;8B5@0BC@=K5 25G5@0 =0 >A=>25
2708<>459AB28O @>48B5;59 8 45B59, :>=:C@AK GB5F>2.
%>740=85 B5<0B8G5A:8E 2KAB02>: 45BA:8E :=83 ?@8 CG0AB88 A57=020B5;L=K5 ?@074=8:8 «5G5@

33

A:07>:», «N1848B5;59.
6. %>2<5AB=>5 D>@<8@>20=85 181;8>B5:8 4;O 45B59 (?>7=020B5;L=>EC4>65AB25==0O ;8B5@0BC@0, M=F8:;>?5488).
$BD@O 6;4<@B89=EF6B6 CB A4CD46?9AB9 D4;62<5AB=0O

2.
3.
4.

5.

6.
7.
8.

>@30=870F8O
2KAB02>:
?@>872545=89
8A:CAAB20
(45:>@0B82=>-?@8:;04=>3>) A F5;LN >1>30I5=8O EC4>65AB25==>MAB5B8G5A:8E ?@54AB02;5=89 45B59.
"@30=870F8O 8 ?@>2545=85 :>=:C@A>2 8 2KAB02>: 45BA:>3> B2>@G5AB20.
=:5B8@>20=85 @>48B5;59 A F5;LN 87CG5=8O 8E ?@54AB02;5=89 >1
MAB5B8G5A:>< 2>A?8B0=88 45B59.
"@30=870F8O
B5<0B8G5A:8E
:>=AC;LB0F89,
?0?>:-?5@542865:,
@0A:;04CH5: ?> @07=K< =0?@02;5=8O< EC4>65AB25==>-MAB5B8G5A:>3>
2>A?8B0=8O @51U=:0.
'G0AB85 @>48B5;59 8 45B59 2 B50B@0;87>20==>9 45OB5;L=>AB8 8
A>2<5AB=0O ?>AB0=>2:0 A?5:B0:;59, A>740=85 CA;>289, >@30=870F8O
45:>@0F89 8 :>ABN<>2.
%>B@C4=8G5AB2> A :C;LBC@=K<8 CG@5645=8O<8 3>@>40 A F5;LN >:070=8O
:>=AC;LB0B82=>9 ?><>I8 @>48B5;O<.
"@30=870F8O A>2<5AB=KE ?>A845;>:.
%>2<5AB=>5 8740=85 ;8B5@0BC@=>-EC4>65AB25==>3> 6C@=0;0 (@8AC=:8,
A:07:8, :><8:AK, ?@84C<0==KE 45BL<8 8 8E @>48B5;O<8).
$BD@O 6;4<@B89=EF6B6 CB A4CD46?9AB9 D4;6AB>O=8O 74>@>2LO 45B59 A>2<5AB=> A> A?5F80;8AB0<8

2.
3.
4.
5.
6.

7.
8.

45BA:>9 ?>;8:;8=8:8, <548F8=A:8< ?5@A>=0;>< "' 8 @>48B5;O<8.
"7=0:><;5=85 @>48B5;59 A @57C;LB0B0<8.
7CG5=85 CA;>289 A5<59=>3> 2>A?8B0=8O G5@57 0=:5B8@>20=85,
>?@545;5=85 ?CB59 C;CGH5=8O 74>@>2LO :064>3> @51U=:0.
%>740=85 CA;>289 4;O C:@5?;5=8O 74>@>2LO 8 A=865=8O 701>;5205<>AB8
45B59 2 "' 8 A59 @01>BK ?> ?@>?030=45 74>@>2>3> >1@070
687=8 A@548 @>48B5;59.
"7=0:><;5=85 @>48B5;59 A A>45@60=85< 8 D>@<0<8 D87:C;LBC@=>>74>@>28B5;L=>9 @01>BK 2 "'.
&@5=8=3 4;O @>48B5;59 ?> 8A?>;L7>20=8N ?@8U<>2 8 <5B>4>2
>74>@>2;5=8O (4KE0B5;L=0O 8 0@B8:C;OF8>==0O 38<=0AB8:0, D878G5A:85
C?@06=5=8O 8 B.4.) A F5;LN ?@>D8;0:B8:8 701>;520=8O 45B59.
"7=0:><;5=85 @>48B5;59 A =5B@048F8>==K<8 <5B>40<8 >74>@>2;5=8O
45BA:>3> >@30=87<0.
A?>;L7>20=85 8=B5@0:B82=KE <5B>4>2 4;O ?@82;5G5=8O 2=8<0=8O
@>48B5;59 : D87:C;LBC@=>->74>@>28B5;L=>9 AD5@5: >@30=870F8O

34

:>=:C@A>2, 28:B>@8=, ?@>5:B>2, @072;5G5=89 8 B.?.
9. #@>?030=40 8 >A25I5=85 >?KB0 A5<59=>3> 2>A?8B0=8O ?> D878G5A:>48B5;59 > D>@<0E
A5<59=>3> 4>AC30.
10. >=AC;LB0B82=0O,
A0=8B0@=>-?@>A25B8B5;LA:0O
8
<548:>?5403>38G5A:0O ?><>IL A5< ?@5>1;040NI8E 70?@>A>2
@>48B5;59 =0 >A=>25 A2O78 "' A <548F8=A:8<8 CG@5645=8O<8
11. #>41>@ 8 @07@01>B:0 8=48284C0;L=KE ?@>3@0<< (:>2
C?@06=5=89)
4;O
C:@5?;5=8O
A2>40
AB>?K,
?@>D8;0:B8:8
?;>A:>AB>?8O, >A0=:8, 7@5=8O 8 B.4. A F5;LN @53C;O@=>3> 2K?>;=5=8O
4><0 8 2 "'.
12. #@>2545=85 4=59 >B:@KBKE 425@59, 25G5@>2 2>?@>A>2 8 >B25B>2,
A>2<5AB=KE @072;5G5=89 A F5;LN 7=0:>48B5;59 A D>@<0<8
D87:C;LBC@=>->74>@>28B5;L=>9 @01>BK 2 "'.
13. #5403>38G5A:0O 4803=>AB8G5A:0O @01>B0 A 45BL<8, =0?@02;5==0O =0
>?@545;5=85 C@>2=O D878G5A:>3> @0728B8O 45B59. "7=0:><;5=85
@>48B5;59
A
@57C;LB0B0<8
4803=>AB8G5A:8E
8AA;54>20=89.
"BA;56820=85 48=0<8:8 @0728B8O 45B59.
14. "?@545;5=85 8 8A?>;L7>20=85 74>@>2L5A15@530NI8E B5E=>;>389.
15. #@02>2>5
?@>A25I5=85
@>48B5;59
=0
>A=>25
87CG5=8O
A>F8>:C;LBC@=>3> A>AB>O=8O @>48B5;59 A F5;LN ?>2KH5=8O
MDD5:B82=>AB8 2708<>459AB28O A5A>1AB2CNI53>
C:@5?;5=8N A52;5=8N 3@0640=AB25==>AB8 2>A?8B0==8:>2,
?>2KH5=8N 8<8460 "' 8 C2065=8N ?5403>3>2.
3.4.2.1. %B89D:4A<9 K4EF<, HBD@4@< B5D4;B64F9?PAOI
BFABL9A<=
5BA:89 A04 O2;O5BAO <56< ?>
B5E=8G5A:>=AB@C8@>20=8N 4;O 4>H:>;L=8:>2.  3@C??0 2>A?8B0B5;8
A>1;N40NB
<5B>48:C :>=AB@C8@>20=8O 4;O 4>H:>;L=>3> >1@07>20=8O,
?@8<5=ONB 83@>2K5 70=OB8O A ;53>-<0B5@80;><, 345 2>A?8B0==8:8 >2;04520NB
:>=AB@C:B82=K<8 =02K:0<8, @072820NB <5;:CN <>B>@8:C, ?@>AB@0=AB25==K5
?@54AB02;5=8O, <0B5<0B8G5A:85 8 48709=5@A:85 A?>A>1=>AB8, 7=0:>D5AA8O<8 A2>53> $>4=>3> :@0O. !0 3@C??0E @0==53> 8 <;04H53>
4>H:>;L=>3> 2>7@0AB0 @01>B0 A ;53>-:8@?8G8:0<8 ?@>E>4OB G5@57 A>2<5AB=CN
8 A0<>AB>OB5;L=CN 83@>2CN 45OB5;L=>ABL. !0 3@C??0E AB0@H53>
4>H:>;L=>3> 2>7@0AB0 >A=>2=0O 7040G0 ?5403>30 4 ?@54>AB028BL 45BO<
?>7=020B5;L=K9 ?>B5=F80;, 8=AB@C<5=BK 8 =5>1E>481>4C, GB>1K
>14C<0BL 7040=85, >?@545;8BL A>2<5AB=> 7040G8, =09B8 @5H5=85 8 ?>45;8BLAO
@57C;LB0B0<8 A2>59 @01>BK A >AB0;L=K<8.
"4=8< 87 206=59H8E ?@8=F8?>2 @50;870F88 ;53>-B5E=>;>389
O2;O5BAO A>2<5AB=>5 A @>48B5;O<8 2>A?8B0=85 8 @0728B85 4>H:>;L=8:>2,
2>2;5G5=85 @>48B5;59 2 >1@07>20B5;L=K9 ?@>F5AA.
35

3.5. !4CD46?9ABDD9>JJ :> ?A8E>;>3>?5403>38G5A:>?@>2>645=8N 45B59, 2:;NG0NI89:
- ?A8E>;>3>-?5403>38G5A:>5 >1A;54>20=85;
-8=48284C0;L=K5 8 3@C??>2K5 :>@@5:F8>==>-@072820NI85 70=OB8O;
- <>=8B>@8=3 48=0<8:8 @0728B8O 45B59.
BDD9>J<= E48 7 1
«GD46GL>4» A4CD46?9A4 A4:
- >15A?5G5=85 :>@@5:F88 =0@CH5=89 @0728B8O C @07;8G=KE :0B53>@89
45B59 A >A>1K<8 >1@07>20B5;L=K<8 ?>B@51=>ABO<8 (""#);
- >:070=85 45BO< A ""# :20;8D8F8@>20==>9 ?><>I8 2 >A2>5=88
?@>3@0<H:>;L=>3> >1@07>20=8O;
- @07=>AB>@>==55 @0728B85 45B59 A ""#, A CG5B>< 2>7@0AB=KE,
8=48284C0;L=KE >A>15==>AB59, A>F80;L=>9 040?B0F88.
'G0AB=8:8 :>@@5:F8>==>-@072820NI59 @01>BK:
B?:ABEFP EC9J<4?3 (2>A?8B0B5;L)
#5403>3-?A8E>;>3
'G8B5;L-45D5:B>;>3
'G8B5;L-;>3>?54

(GA>J<< 6 $$
#@>D5AA8>=0;L=>5 @0728B85
?5403>38G5A:8E @01>B=8:>2, =0?@02;5=>
=0 @0728B85 ?@>D5AA8>=0;L=KE
:>AB59 8 <0AB5@AB20
<>B828@>20=8O @515=:0 A "
(=>7>;>38G5A:8E 3@C??) ?@54AB02;5==KE
2 A>45@60=88 ("# " (A<..*5;52>9
@0745;, %>45@60B5;L=K9 @0745; ("#
")
36

"EAB64 >BDD9>J 2A5E 2840E 8 D>@<0E
45OB5;L=>AB8:
* 2 A>2<5AB=>9 45OB5;L=>AB8
45B59
* 2 D>@<5 :>@@5:F8>==>@072820NI8E 3@C??>2KE 8
8=48284C0;L=KE 70=OB89

!0 >A=>25 2KO2;5=8O 8<5NI8EAO
48ADC=F89 8 >A>15==>AB59 @0728B8O
?>7=020B5;L=>9, @5G52>9, M<>F8>=0;L=>9,
:><9, @53C;OB82=>9 AD5@

484K< >BDD9>J<= E48 7 1
«GD46GL>4»:
- >?@545;5=85 >A>1KE >1@07>20B5;L=KE ?>B@51=>AB59 (""#) >1CG0NI8EAO, 2
B>< G8A;5, A B@C4=>ABO<8 >A2>5=8O ("# " 8 A>F80;870F88 2 "";
- A2>52@5<5==>5 2KO2;5=85 >1CG0NI8EAO A B@C4=>ABO<8 A>F80;L=>9
040?B0F88;
- >ACI5AB2;5=85 8=48284C0;L=> >@85=B8@>20==>9 ?A8E>;>3>-?5403>38G5A:>9
?><>I8 >1CG0NI8< >A>15==>AB59 8E @0728B8O (?A8E8G5A:>3>,
D878G5A:>3>), 8=48284C0;L=KE 2>7<>6=>AB59 8 ?>B@51=>AB59 (2
A>>B25BAB288 A @5:><5=40F8O<8 &# # 8;8 ##: "");
>:070=85
@>48B5;O<
(70:>==K<
?@54AB028B5;O<)
>1CG0NI8EAO
:>=AC;LB0B82=>9 ?A8E>;>3>-?5403>38G5A:>9 ?><>I8 ?> 2>?@>A0< @0728B8O
8 2>A?8B0=8O 45B59 4>H:>;L=>3> 2>7@0AB0;
- A>459AB285 ?>8A:C 8 >B1>@C >40@5==KE >1CG0NI8EAO, 8E B2>@G5A:>1;5<0<8 @0728B8O M<>F8>=0;L=>9 8 8=B5;;5:BC0;L=>9
AD5@K;
- @50;870F8O :> >@85=B8@>20==KE <5@ ?> >A;01;5=8N,
A=865=8N 8;8 CAB@0=5=8N >B:;>=5=89 2 @0728B88 8 ?@>1;5< ?>2545=8O.
BDD9>J1>A=>20==>3> 70?@>A0 ?5403>3>2, @>48B5;59 (70:>==KE ?@54AB028B5;59)
- @57C;LB0B>2 ?A8E>;>38G5A:>9 4803=>AB8:8
- @5:><5=40F89 &# #
BDD9>J2KE 8/8;8 8=48284C0;L=KE :>@@5:F8>==>-@072820NI8E 70=OB89
37

*

6O5BD CDB7D4@@O  , >B?4:8B7B B5GK4NM97BEO BCD989?O9FEO E GK9FB@ 97B
 A4 BEAB69 D9>B@9A84J<= ".
4F97BD<< J9?96OI 7DGCC 8?S 6>?RK9ABDD9>J@<>B8?8G=K5 45B8 A =>@<0B82=K< :@878A>< @0728B8O
II. "1CG0NI85AO A >A>1K<8 >1@07>20B5;L=K<8 ?>B@51=>ABO<8
- A " 8/8;8 8=20;84=>ABLN, ?>;CG82H85 AB0BCA 2 ?>@O4:5, CAB0=>2;5==><
70:>=>40B5;LAB2>< $(
- >1CG0NI85AO ?> 8=48284C0;L=>1CG0NI85AO A B@C4=>ABO<8 2 >A2>5=88 >1@07>20B5;L=KE ?@>3@0<<, @0728B88,
A>F80;L=>9 040?B0F88
- >40@5==K5 >1CG0NI85AO
III.
5B8 (A54OI85AO 2 B@C4=>9 687=5==>9 A8BC0F88, ?@87=0==K5
B0:>2K<8 2 CAB0=>2;5==>< ?>@O4:5
IV. 5B8 (A54OI85AO 2 A>F80;L=> >?0A=>< ?>;>65=88, ?@87=0==K5
B0:>2K<8 2 CAB0=>2;5==>< ?>@O4:5
V. "1CG0NI85AO «3@C??K @8A:0».
3.5.1.%B89D:4A<9 >BDD9>J52@5<5==>5 2KO2;5=85 45B59, =C640NI8EAO 2 ?A8E>;>3>?5403>38G5A:>< A>?@>2>645=88;
- @0==OO 4803=>AB8:0 >B:;>=5=89 2 @0728B88 8 0=0;87 ?@8G8=
B@C4=>AB59 A>F80;L=>9 040?B0F88;
- :>@ A2545=89 >1 >1CG0NI8EAO =0 >A=>20=88
4803=>AB8G5A:>9 8=D>@<0F88;
- >?@545;5=85 C@>2=O 0:BC0;L=>3> 8 7>=K 1;8609H53> @0728B8O,
>1CG0NI8EAO A ", A B@C4=>ABO<8 2 >1CG5=88 8 A>F80;870F88, 2KO2;5=85
53> @575@2=KE 2>7<>6=>AB59;
- 87CG5=85 C@>2=O >1I53> @0728B8O >1CG0NI8EAO, A CG5B><
>A>15==>AB59 =>7>;>38G5A:>9 3@C??K, 2>7<>6=>AB59 25@10;L=>9 8
=525@10;L=>9 :>< A25@AB=8:0<8 8 27@>A;K<8;
- 87CG5=85 @0728B8O M<>F8>=0;L=>-2>;52>9 AD5@K 8 ;8G=>AB=KE
>A>15==>AB59 >1CG0NI8EAO;
- 87CG5=85 8=48284C0;L=KE >1@07>20B5;L=KE 8 A>F80;L=>:><B@51=>AB59 >1CG0NI8EAO;
38

- 87CG5=85 A>F80;L=>9 A8BC0F88 @0728B8O 8 CA;>289 A5<59=>3>
2>A?8B0=8O @515=:0;
- 87CG5=85 C@>2=O 040?B0F88 8 040?B82=KE 2>7<>6=>AB59
>1CG0NI53>AO;
- 87CG5=85 =0?@02;5==>AB8 45BA:>9 >40@5==>AB8;
- 87CG5=85, :>=AB0B0F8O 2 @0728B88 @515=:0 53> 8=B5@5A>2 8
A:;>==>AB59, >40@5==>AB8;
- <>=8B>@8=3 @0728B8O 45B59 8 ?@54C?@5645=85 2>7=8:=>25=8O
?A8E>;>3>-?5403>38G5A:8E ?@>1;5< 2 53> @0728B88;
- 2KO2;5=85 45B59-<83@0=B>2, 8<5NI8E B@C4=>AB8 2 >1CG5=88 8
A>F80;L=>-?A8E>;>38G5A:>9 040?B0F88, 48DD5@5=F8@>20==0O 4803=>AB8:0 8
>F5=:0 MB=>:C;LBC@=>9 ?@8@>4K 8<5NI8EAO B@C4=>AB59;
- 2A5AB>@>==55 ?A8E>;>3>-?5403>38G5A:>5 87CG5=85 ;8G=>AB8 @515=:0;
- 2KO2;5=85 8 87CG5=85 =51;03>?@8OB=KE D0:B>@>2 A>F80;L=>9 A@54K
8 @8A:>2 >1@07>20B5;L=>9 A@54K;
- A8AB5<=K9 @07=>AB>@>==89 :>=B@>;L A?5F80;8AB>2 70 C@>2=5< 8
48=0<8:>9 @0728B8O >1CG0NI53>AO, 70 A>740=85< =5>1E>48289,
A>>B25BAB2CNI8E 53> ""#.
II. "$$*"!!"-$2-3 $"&
- 2K1>@ >?B8<0;L=KE 4;O @0728B8O >1CG0NI8EAO :>@@5:F8>==>@072820NI8E ?@>3@0<< ?A8E>;>3>-?5403>38G5A:>3> A>?@>2>645=8O 2
A>>B25BAB288 A 53> ""#;
- >@30=870F8O, @07@01>B:0 8 ?@>2545=85 A?5F80;8AB0<8 8=48284C0;L=KE /
3@C??>2KE
:>@@5:F8>==>-@072820NI8E
70=OB89,
=5>1E>484>;5=8O =0@CH5=89 ?>2545=8O 8 @0728B8O, B@C4=>AB59 2 >A2>5=88
>1@07>20B5;L=>9 ?@>3@0<F80;870F88;
- :>@@5:F8O 8 @0728B85 2KAH8E ?A8E8G5A:8E DC=:F89;
- @0728B85 M<>F8>=0;L=>-2>;52>9 8 ;8G=>AB=>9 AD5@K 8 ?A8E>;>38G5A:0O
:>@@5:F8O ?>2545=8O;
@0728B85
:><A>1=>AB59,
A>F80;L=>3>
8
M<>F8>=0;L=>3> 8=B5;;5:B0, D>@<8@>20=85 :><9 :>AB8;
- :>@@5:F8O 8 @0728B85 ?A8E><>B>@=>9 AD5@K, :>>@48=0F88 8 @53C;OF88
42865=89;
- A>740=85 CA;>289, >15A?5G820NI8E @0728B85, >1CG5=85 8 2>A?8B0=85
45B59 A O@:> 2K@065==>9 ?>7=020B5;L=>9 =0?@02;5==>ABLN, 2KA>:8< C@>2=5<
C3> @0728B8O 8;8 8=>9 =0?@02;5==>ABLN >40@5==>AB8;
- A>740=85 =0AKI5==>9 $##% 4;O @07=KE 284>2 45OB5;L=>AB8;
- D>@<8@>20=85 8=:;N782=>9 >1@07>20B5;L=>9 A@54K, 2 B.G. 4;O
2:;NG5=8O 45B59 8=>AB@0==KE 3@0640= 2 @>AA89A:>5 >1@07>20B5;L=>5
39

?@>AB@0=AB2> A A>E@0=5=85< :C;LBC@K 8 845=B8G=>AB8, A2O70==KE A> AB@0=>9
?@>8AE>645=8O;
- >:070=85 ?>445@6:8 @515=:C 2 A;CG0OE =51;03>?@8OB=KE CA;>289 687=8,
?A8E>B@02<8@CNI8E
>1AB>OB5;LAB20E ?@8 CA;>288 8=D>@<8@>20=8O
A>>B25BAB2CNI8E AB@C:BC@ A>F80;L=>9 70I8BK;
- ?@5>4>;5=85 ?5403>38G5A:>9 70?CI5==>AB8 2 @01>B5 A >1CG0NI8<8AO;
- ?><>IL 2 CAB@0=5=88 ?A8E>B@02<8@CNI8E A8BC0F89 2 687=8 @515=:0.
III. "!%'0&&!3 $"&
- @07@01>B:0 @5:><5=40F89 ?> >A=>2=K< =0?@02;5=8O< @01>BK A
>1CG0NI8<8AO A B@C4=>ABO<8 2 >1CG5=88
8 A>F80;870F88, 548=KE 4;O 2A5E
CG0AB=8:>2 >1@07>20B5;L=KE >B=>H5=89;
- :>=AC;LB8@>20=85 A?5F80;8AB0<8 ?5403>3>2 ?> 2K1>@C 8=48284C0;L=>
>@85=B8@>20==KE <5B>4>2 8 ?@85<>2 @01>BK A >1CG0NI8<8AO
- :>=AC;LB0B82=0O ?><>IL A5?@>A0E 2K1>@0 >?B8<0;L=>9
AB@0B5388 2>A?8B0=8O 8 ?@85<>2 $$ A @515=:><.
IV. !("$ *"!!"-#$"%&&0%3 $"&
- @07;8G=K5 D>@A25B8B5;LA:>9 45OB5;L=>AB8 (;5:F88, 15A54K,
8=D>@<0F8>==K5 AB5=4K, ?5G0B=K5 <0B5@80;K, M;5:B@>==K5 @5AC@AK),
=0?@02;5==K5 =0 @07JOA=5=85 CG0AB=8:0< >1@07>20B5;L=KE >B=>H5=89 (45BO<,
@>48B5;O<, ?5403>30<) 2>?@>A>2, A2O70==KE A >A>15==>ABO<8 >1@07>20B5;L=>3>
?@>F5AA0 8 ?A8E>;>3>-?5403>38G5A:>3> A>?@>2>645=8O >1CG0NI8EAO, 2 B.G. A
", B@C4=>ABO<8 2 >1CG5=88 8 A>F80;870F88;
- ?@>2545=85 B5<0B8G5A:8E 2KABC?;5=89, >=;09=-:>=AC;LB0F89 4;O
?5403>3>2 8 @>48B5;59 (70:>==KE ?@54AB028B5;59) ?> @07JOA=5=8N
8=48284C0;L=>-B8?>;>38G5A:8E
>A>15==>AB59
@07;8G=KE
:0B53>@89
>1CG0NI8EAO, 2 B>< G8A;5 A ", B@C4=>ABO<8 2 >1CG5=88 8 A>F80;870F88.
!4CD46?9ABDD9>J@8G=KE 18>;>38G5A:8E 8 A>F80;L=KE >B:;>=5=89 2
@0728B88, 70B@C4=ONI8E >1@07>20=85 8 A>F80;870F8N >1CG0NI8EAO;
- :>@@5:F8O =0@CH5=89 ?A8E8G5A:>3> 8 D878G5A:>3> @0728B8O A@54AB20<8
:>@@5:F8>==>9 ?5403>38:8, A?5F80;L=>9 ?A8E>;>388 8 <548F8=K;
- D>@<8@>20=85 C >1CG0NI8EAO <5E0=87<>2 :>440NI8EAO :>@@5:F88, 2 B>< G8A;5, A 8A?>;L7>20=85<
0AA8AB82=KE B5E=>;>389.

40

0B53>@88 45B59

$0745;K/?>4@0745;K (545@0;L=>9 040?B8@>20==>9 >1@07>20B5;L=>9
?@>3@0<H:>;L=>3> >1@07>20=8O 4;O >1CG0NI8EAO A "

1

2

1. 5B8

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.1).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.1).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 12).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A
=0@CH5=8O<8 A;CE0 (3;CE8<8, A;01>A;KH0I8<8 8 ?>74=>>3;>EH8<8)
(?. 40.1).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A 
(?. 40.2).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A =0@CH5=8O<8 A;CE0 (?. 51.1)

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.2).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.2).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 13).
ò 40?B82=0O :>@=>-@072820NI0O ?@>3@0<<0 4;O
A;5?KE >1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85 C
A;5?>3> @515=:0 A;CE>2>3> 2>A?@8OB8O» (?. 14).
ò 40?B82=0O :>@=>-@072820NI0O ?@>3@0<<0 4;O
A;5?KE >1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85
B0:B8;L=KE >ICI5=89 C A;5?>3> @515=:0» (?. 15).
ò 40?B82=0O :>@=>-@072820NI0O ?@>3@0<<0 4;O
A;5?KE >1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85
GC2AB25==>9 >A=>2K 8 A>F80;L=KE 42865=89 @C:» (?. 16).
ò 40?B82=0O :>@=>-@072820NI0O ?@>3@0<<0 4;O
A;5?KE >1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85
42830B5;L=>9 AD5@K» (?. 17).
ò 40?B82=0O :>@=>-@072820NI0O ?@>3@0<<0 4;O
A;5?KE >1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85
>AB0B>G=>3> 7@5=8O» (?. 18).
ò 40?B82=0O :>@@5:F8>==>-@072820NI0O ?@>3@0<<0 4;O
A;01>284OI8E 8 A ?>=865==K< 7@5=85< (0<1;8>?859 8 :>A>3;0785<,
DC=:F8>=0;L=K<8 @0AAB@>9AB20<8 8 =0@CH5=8O<8 7@5=8O)
>1CG0NI8EAO <;045=G5A:>3> 8 @0==53> 2>7@0AB0 «$0728B85
7@8B5;L=>3> 2>A?@8OB8O» (C@>2=520O) (?. 19).
ò 18;8B0F8>==0O ?@>3@0<<0 "@30=870F88 4;O A;5?KE
>1CG0NI8EAO (@50;87C5BAO A;C61>9 @0==59 ?><>I8) (?. 20).
ò 18;8B0F8>==0O ?@>3@0<<0 4>H:>;L=>9 >1@07>20B5;L=>9
>@30=870F88 4;O A;01>284OI8E 8 A ?>=865==K< 7@5=85<
(0<1;8>?859 8 :>A>3;0785<, DC=:F8>=0;L=K<8 @0AAB@>9AB20<8 8
=0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (@50;87C5BAO A;C61>9 @0==59
?><>I8) (?. 21).
ò %>F80;L=>-:><5 @0728B85 A;5?KE >1CG0NI8EAO
4>H:>;L=>3> 2>7@0AB0 (?. 22).
ò #>7=020B5;L=>5 @0728B85. %;5?K5 >1CG0NI85AO (?. 23).
ò $5G52>5 @0728B85 A;5?KE >1CG0NI8EAO (?. 24).
ò )C4>65AB25==>-MAB5B8G5A:>5 @0728B85 A;5?KE >1CG0NI8EAO
(?. 25).
ò (878G5A:>5 @0728B85 A;5?KE >1CG0NI8EAO (?. 26).

=0@CH5=8O<8 A;CE0

2.

5B8

=0@CH5=8O<8
7@5=8O

41

ò %>F80;L=>-:><5 @0728B85 A;01>284OI8E 8 A
?>=865==K< 7@5=85< (0<1;8>?859 8 :>A>3;0785<, DC=:F8>=0;L=K<8
@0AAB@>9AB20<8 8 =0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (?. 27).
ò #>7=020B5;L=>5 @0728B85 A;01>284OI8E 8 A ?>=865==K<
7@5=85<
(0<1;8>?859
8
:>A>3;0785<,
DC=:F8>=0;L=K<8
@0AAB@>9AB20<8 8 =0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (?. 28).
ò $5G52>5 @0728B85 A;01>284OI8E 8 A ?>=865==K< 7@5=85<
(0<1;8>?859 8 :>A>3;0785<, DC=:F8>=0;L=K<8 @0AAB@>9AB20<8 8
=0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (?. 29).
ò )C4>65AB25==>-MAB5B8G5A:>5 @0728B85 A;01>284OI8E 8 A
?>=865==K< 7@5=85< (0<1;8>?859 8 :>A>3;0785<, DC=:F8>=0;L=K<8
@0AAB@>9AB20<8 8 =0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (?. 30).
ò (878G5A:>5 @0728B85 A;01>284OI8E 8 A ?>=865==K< 7@5=85<
(0<1;8>?859 8 :>A>3;0785<, DC=:F8>=0;L=K<8 @0AAB@>9AB20<8 8
=0@CH5=8O<8 7@5=8O) >1CG0NI8EAO (?. 31).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A
=0@CH5=8O<8 7@5=8O (?. 41).
ò "?8A0=85 :>@@5:F8>==>->1@07>20B5;L=>9 45OB5;L=>AB8 2
A>>B25BAB288 A >A>1K<8 >1@07>20B5;L=K<8 ?>B@51=>ABO<8
A;01>284OI8E 8 A ?>=865==K< 7@5=85< (0<1;8>?859 8 :>A>3;0785<,
DC=:F8>=0;L=K<8 @0AAB@>9AB20<8 8 =0@CH5=8O<8 7@5=8O)
4>H:>;L=8:>2 (?. 42).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A =0@CH5=8O<8 7@5=8O (?. 51.2)
3. 5B8 A BO65;K<8
=0@CH5=8O<8 @5G8

4. 5B8

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.4).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.4).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 33).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A
!" (?. 44).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A !" (?. 51.4)

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.5).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.5).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 34).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A #$
(?. 45).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A #$ (?. 51.5)

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.6).

=0@CH5=8O<8
>?>@=>42830B5;L=>3>
0??0@0B0
5. 5B8
7045@6:>9
?A8E8G5A:>3>
@0728B8O

6. 5B8

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.3).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.3).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 32).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A &!$
(?. 43).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A &!$ (?. 51.3)

42

ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.6).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 2 A>>B25BAB288 A
=0?@02;5=8O<8 @0728B8O @515=:0 (?. 35).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A $%
(?. 46).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A $% (?. 51.6)

@0AAB@>9AB20<8
0CB8AB8G5A:>3>
A?5:B@0

A

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.7).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.7).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 >1CG0NI8EAO A
C9 >BAB0;>ABLN (8=B5;;5:BC0;L=K<8 =0@CH5=8O<8) 2
A>>B25BAB288 A =0?@02;5=8O<8 @0728B8O @515=:0 (?. 36).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A
C9 >BAB0;>ABLN (8=B5;;5:BC0;L=K<8 =0@CH5=8O<8) (?. 47).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
>1CG0NI8EAO A C9 >BAB0;>ABLN (8=B5;;5:BC0;L=K<8
=0@CH5=8O<8) (?. 51.7)

8. 5B8 A BO65;K<8

ò %?5F8D8G5A:85 ?@8=F8?K D>@<8@>20=8O "# " (?. 10.3.8).
ò *5;52K5 >@85=B8@K @50;870F88 "# " (?. 10.4.8).
ò "?8A0=85 >1@07>20B5;L=>9 45OB5;L=>AB8 >1CG0NI8EAO A & !$
2 A>>B25BAB288 A =0?@02;5=8O<8 @0728B8O @515=:0 (?. 37).
ò #@>3@0<<0 :>@@5:F8>==>-@072820NI59 @01>BK A 45BL<8 A
& !$ (?. 48).
ò #A8E>;>3>-?5403>38G5A:85 CA;>28O, >15A?5G820NI85 @0728B85
@515=:0 A & !$ (?. 51.8)
ò 708<>459AB285 ?5403>38G5A:8E @01>B=8:>2 A 45BL<8 (?. 38).
ò 708<>459AB285 ?5403>38G5A:>3> :>;;5:B820 A @>48B5;O<8
(70:>==K<8 ?@54AB028B5;O<8) >1CG0NI8EAO (?. 39).
ò (545@0;L=0O @01>G0O ?@>3@0<<0 2>A?8B0=8O (?. 49).
ò "@30=870F8O @072820NI59 ?@54<5B=>-?@>AB@0=AB25==>9 A@54K
(?. 52).
ò 04@>2K5, D8=0=A>2K5, <0B5@80;L=>-B5E=8G5A:85 CA;>28O (?.
53).
ò (545@0;L=K9 :0;5=40@=K9 ?;0= 2>A?8B0B5;L=>9 @01>BK

7. 5B8
C9
>BAB0;>ABLN

<=>65AB25==K<8
=0@CH5=8O<8

$0745;K, >1I85 4;O
2A5E

:0B53>@89

>1CG0NI8EAO A "

!4CD46?9ABDD9>J@@5:F8O :><9, ;8G=>AB=>9, M<>F8>=0;L=>9 2>;52>9 AD5@,
?>7=020B5;L=KE ?@>F5AA>2;
- A=865=85 B@52>6=>AB8;
- ?><>IL 2 @07@5H5=88 ?>2545=G5A:8E ?@>1;5<;
- A>740=85 CA;>289 4;O CA?5H=>9 A>F80;870F88, >?B8<870F8O
<56;8G=>AB=>3> 2708<>459AB28O A> 27@>A;K<8 8 A25@AB=8:0<8.
EAB64 8?O BFA9E9A 84AAB= >4F97BD<<:
- =0 >A=>25 <548F8=A:>3> 70:;NG5=8O;

43

- =0 >A=>25 @57C;LB0B>2 ?A8E>;>38G5A:>9 8 ?5403>38G5A:>9 4803=>AB8:8;
- 2 A>>B25BAB288 A @5:><5=40F8O<8 ##.
!4CD46?9ABDD9>J?@545;5=85 2840 >40@5==>AB8, 8=B5;;5:BC0;L=KE 8 ;8G=>AB=KE
>A>15==>AB59 45B59, ?@>3=>7 2>7<>6=KE ?@>1;5< 8 ?>B5=F80;0 @0728B8O;
- 2>2;5G5=85 @>48B5;59 (#) 2 >1@07>20B5;L=K9 ?@>F5AA 8 CAB0=>2;5=85 A
=8<8 >B=>H5=89 A>B@C4=8G5AB20 :0: >1O70B5;L=>3> CA;>28O ?>445@6:8 8
@0728B8O >40@5==>3> @515=:0 2 "" 8 A5740=85 0B<>AD5@K 4>1@>65;0B5;L=>AB8, 701>BK 8 C2065=8O ?>
>B=>H5=8N : @515=:C, >1AB0=>2:8, D>@<8@CNI59 C @515=:0 GC2AB2>
A>1AB25==>9 7=0G8<>AB8, ?>>I@ONI59 ?@>O2;5=85 53> 8=48284C0;L=>AB8;
- A>E@0=5=85 8 ?>445@6:0 8=48284C0;L=>AB8 @515=:0, @0728B85 53>
8=48284C0;L=KE A?>A>1=>AB59 8 >40@5==>AB8;
- D>@<8@>20=85 :><2 8 @0728B85 M<>F8>=0;L=>9
CAB>9G82>AB8;
- >@30=870F8O ?@54<5B=>-@072820NI59, >1>30I5==>9 >1@07>20B5;L=>9
A@54K 2 CA;>28OE "", 1;03>?@8OB=>9 4;O @0728B8O A?>A>1=>AB59 8
>40@5==>AB8.
EAB64 8?O BFA9E9A 84AAB= >4F97BD<<: 70:;NG5=8O
##: ?> @57C;LB0B0< ?A8E>;>38G5A:>9 8 ?5403>38G5A:>9 4803=>AB8:8.
!4CD46?9ABDD9>J<2, D>@<8@>20=85 GC2AB28B5;L=>AB8 :
A25@AB=8:C, 53> M<>F8>=0;L=>AB>O=8N, =0<5@5=8O<, 65;0=8O<;
- D>@<8@>20=85 C25@5==>3> ?>2545=8O 8 A>F80;L=>9 CA?5H=>AB8;
- :>@@5:F8O 45AB@C:B82=KE M<>F8>=0;L=KE A>AB>O=89, 2>7=8:0NI8E
2A;54AB285 ?>?040=8O 2 =>2CN O7K:>2CN A@54C
- A>740=85 0B<>AD5@K 4>1@>65;0B5;L=>AB8, 701>BK 8 C2065=8O ?>
>B=>H5=8N : @515=:C.
!4CD46?9ABDD9>J4»
ø >?NK9A<9 D959A>4 <; «7DGCCO D4» 6 CDB7D4@@G $$ <
BCD989?9A<9 B7B
EBCDB6B:89AA=>25 70:;NG5=8O ##:;
- =0 >A=>25 @57C;LB0B>2 ?5403>38G5A:>9 4803=>AB8:8;
- =0 >A=>25 @57C;LB0B>2 ?A8E>;>38G5A:>9 4803=>AB8:8;

44

- ?> >1>A=>20==>AC @>48B5;59, ?5403>3>2.
ø  7DGCC9 D4 @B7GF 5OFP BFA9E9AO:
- 45B8, 8<5NI85 ?@>1;5;>38G5A:8< 74>@>2L5<;
- 45B8, 8<5NI85 M<>F8>=0;L=K5 ?@>1;51;5<0<8 =52@>;>38G5A:>3> E0@0:B5@0;
- 45B8 A ?@>1;5<0<8 >1I5=8O;
- 45B8 A ?@>1;5<0<8 @53C;OB>@=>3> E0@0:B5@0.
ø 4CD46?9A@@5:F8O (@0728B85) A>F80;L=>-:><9, ;8G=>AB=>9,
M<>F8>=0;L=>-2>;52>9 AD5@K;
- ?><>IL 2 @5H5=88 ?>2545=G5A:8E ?@>1;5<;
- D>@<8@>20=85 045:20B=KE, A>F80;L=>-?@85<;5A>1>2 ?>2545=8O;
- @0728B85 @5D;5:A82=KE A?>A>1=>AB59;
- A>25@H5=AB2>20=85 A?>A>1>2 A0<>@53C;OF88.
3.6. #DB7D4@@4 6BEC4.
#@>3@0<<0 2>A?8B0=8O (40;55 3 #@>3@0<<0 2>A?8B0=8O) 3>
02B>=><=>3> 4>H:>;L=>3> >1@07>20B5;L=>3> CG@5645=8O 5BA:89 A04 7 1
«C@02CH:0» (40;55 3"') @07@01>B0=0 =0 >A=>25 B@51>20=89 ("# " 8
("% ".
#@>3@0<<0 2>A?8B0=8O O2;O5BAO :>=5=B>< >A=>2=>9 >1@07>20B5;L=>9
?@>3@0<H:>;L=>3> >1@07>20=8O.  A2O78 A MB8 AB@C:BC@0 #@>3@0<A?8B0=8O 2:;NG05B 2 A51O B@8 @0745;0 - F5;52>9, A>45@60B5;L=K9 8
>@30=870F8>==K9, 2 :064>< 87 =8E ?@54CA<0B@8205BAO >1O70B5;L=0O G0ABL 8
G0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89.
#@>3@0<<0 2>A?8B0=8O =0?@02;5=0 =0 @5H5=85 2>?@>A>2 30@<>=8G=>3>
2E>645=8O 2>A?8B0==8:>2 2 A>F80;L=K9 <8@ 8 =0;06820=8O 2708<>>B=>H5=89
A >:@C60NI8<8 8E ;N4L<8.
#>4 2>A?8B0=85< ?>=8<05BAO «45OB5;L=>ABL, =0?@02;5==0O =0 @0728B85
;8G=>AB8, A>740=85 CA;>289 4;O A0<>>?@545;5=8O 8 A>F80;870F88
>1CG0NI8EAO =0 >A=>25 A>F8>:C;LBC@=KE, 4CE>2=>-=@02AB25==KE F5==>AB59 8
?@8=OBKE 2 @>AA89A:>< >1I5AB25 ?@028; 8 =>@< ?>2545=8O 2 8=B5@5A0E
G5;>25:0, A51I5AB20 8 3>AC40@AB20, D>@<8@>20=85 C >1CG0NI8EAO
GC2AB20 ?0B@8>B87<0, 3@0640=AB25==>AB8, C2065=8O : ?02
"B5G5AB20 8 ?>42830< 5@>52 "B5G5AB20, 70:>=C 8 ?@02>?>@O4:C, G5;>25:C
B@C40 8 AB0@H5:>;5=8N, 2708<=>3> C2065=8O, 15@56=>3> >B=>H5=8O :
:C;LBC@=>3>=0F8>=0;L=>3> =0@>40 $>AA89A:>9
(545@0F88, ?@8@>45 8 >:@C60NI59 A@545».
#@>3@0<<0

2>A?8B0=8O

=0?@02;5=0

=0

>15A?5G5=85

4>AB865=8O
45

2>A?8B0==8:0<8 ;8G=>AB=KE @57C;LB0B>2 (F5;52KE >@85=B8@>2), C:070==KE 2
("# " 8 ("% ":
?@>O2;5=85 2>A?8B0==8:0<8 ?0B@8>B87<0, GC2AB20 3@0640=A:>9
?@8=04;56=>AB8 8 A>F80;L=>9 >B25BAB25==>AB8;
- C2068B5;L=>5 >B=>H5=85 2>A?8B0==8:>2 : A>F8>:C;LBC@=K< 8
4CE>2=>- =@02AB25==K< F5==>ABO<, 8AB>@8G5A:8< 8 =0F8>=0;L=>-:C;LBC@=K<
B@048F8O< =0@>4>2 =0H59 AB@0=K;
- >2;045=85 =0G0;L=K<8 7=0=8O<8 > A515, A51I5AB25, 3>AC40@AB25,
<8@5;
- D>@<8@>20=85 A>F80;L=>-7=0G8AB8;
- 0:B82=>5 CG0AB85 2 A>F80;L=>-7=0G8<>9 45OB5;L=>AB8.
#@>3@0<<0 2>A?8B0=8O @07@01>B0=0 A CG5B>< :C;LBC@=>-8AB>@8G5A:8E,
A>F80;L=>-M:>=><8G5A:8E, 45<>3@0D8G5A:8E >A>15==>AB59 @538>=0, 70?@>A0
A5<59 8 4@C38E AC1J5:B>2 >1@07>20B5;L=>3> ?@>F5AA0 8 @50;87C5B
45OB5;L=>AB=K9 ?>4E>4 : 2>A?8B0=8N @515=:0 8 :C;LBC@>;>38G5A:89 ?>4E>4 :
>B1>@C A>45@60=8O >1@07>20=8O.
 >A=>25 ?@>F5AA0 2>A?8B0=8O 45B59 2 "" ;560B :>=AB8BCF8>=0;L=K5 8
=0F8>=0;L=K5 F5==>AB8 @>AA89A:>3> >1I5AB20
*5==>ABL $B8A=>25 ?0B@8>B8G5A:>3> =0?@02;5=8O
2>A?8B0=8O.
*5==>ABL 59D9:?<6B7B BFABL9A CDA=>25
M:>;>38G5A:>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>AB8 K9?B69>4, E9@P<, 8DG:5O, EBFDG8AA=>25
A>F80;L=>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>ABL ;A4AA=>25 ?>7=020B5;L=>3> =0?@02;5=8O
2>A?8B0=8O.
*5==>ABL ;8BDB6PS ;568B 2 >A=>25 D878G5A:>3> 8 >74>@>28B5;L=>3>
=0?@02;5=8O 2>A?8B0=8O.
*5==>ABL FDG84 ;568B 2 >A=>25 B@C4>2>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>AB8 >G?PFGDO < >D4EBFO ;560B 2 >A=>25 MB8:>-MAB5B8G5A:>3>
=0?@02;5=8O 2>A?8B0=8O.
$50;870F8O #@>3@0<A?8B0=8O >A=>20=0 =0 2708<>459AB288 A
@07=K<8 AC1J5:B0<8 >1@07>20B5;L=KE >B=>H5=89 8 ?@54?>;0305B A>F80;L=>5
?0@B=5@AB2> A 4@C38<8 >@30=870F8O<8.
1. *" $
1.1.*9?< < ;484K< #DB7D4@@O 6BEC2@5<5==K9
=0F8>=0;L=K9
2>A?8B0B5;L=K9
8450;
4
MB>
2KA>:>=@02AB25==K9, B2>@G5A:89, :>AA88,

46

?@8=8<0NI89 AC4L1C "B5G5AB20 :0: A2>N ;8G=CN, >A>7=0NI89
>B25BAB25==>ABL 70 =0AB>OI55 8 1C4CI55 A2>59 AB@0=K, C:>@5=U==K9 2
4CE>2=KE 8 :C;LBC@=KE B@048F8OE <=>3>=0F8>=0;L=>3> =0@>40 $>AA89A:>9
(545@0F88.
AE>4O 87 MB>3> 2>A?8B0B5;L=>3> 8450;0, 0 B0:65 >A=>2K20OAL =0 107>2KE
4;O =0H53> >1I5AB20 F5==>ABOE (B0:8E :0: A5B5G5AB2>, ?@8@>40,
<8@, 7=0=8O, :C;LBC@0, 74>@>2L5, G5;>25:) D>@1I0O F5;L.
*9?P 6BECAB=>5 @0728B85 :064>3> @51U=:0 A CGUB>< 53>
8=48284C0;L=>AB8 8 A>740=85 CA;>289 4;O ?>78B82=>9 A>F80;870F88 45B59 =0
>A=>25 B@048F8>==KE F5==>AB59 @>AA89A:>3> >1I5AB20, GB> ?@54?>;0305B:
1) D>@<8@>20=85 ?5@2>=0G0;L=KE ?@54AB02;5=89 > B@048F8>==KE
F5==>ABOE @>AA89A:>3> =0@>40, A>F80;L=> ?@85<;5@<0E 8 ?@028;0E
?>2545=8O;
2) D>@<8@>20=85 F5==>AB=>3> >B=>H5=8O : >:@C60NI54=>F8>:C;LBC@=>2;5=85 ?5@28G=>3> >?KB0 45OB5;L=>AB8 8 ?>2545=8O 2
A>>B25BAB288 A B@048F8>==K<8 F5==>ABO<8, ?@8=OBK<8 2 >1I5AB25 =>@<0<8 8
?@028;0<8.
"1I85 7040G8 2>A?8B0=8O 2 "":
4) A>459AB2>20BL @0728B8N ;8G=>AB8, >A=>20==>1I5AB25 ?@54AB02;5=8OE > 4>1@5 8 7;5, 4>;6=>< 8 =54>?CAB8<><;
5) A?>A>1AB2>20BL AB0=>2;5=8N =@02AB25==>AB8, >A=>20==>9 =0
4CE>2=KE >B5G5AB25==KE B@048F8OE, 2=CB@5==59 CAB0=>2:5 ;8G=>AB8 ?>ABC?0BL
A>3;0A=> A2>59 A>25AB8;
6) A>74020BL CA;>28O 4;O @0728B8O 8 @50;870F88 ;8G=>AB=>3> ?>B5=F80;0
@51U=:0, 53> 3>B>2=>AB8 : B2>@G5A:>2K@065=8N 8 A0<>@0728B8N,
A0<>2>A?8B0=8N;
7) >ACI5AB2;OBL ?>445@6:C ?>78B82=>9 A>F80;870F88 @51U=:0
?>A@54AB2>< ?@>5:B8@>20=8O 8 ?@8=OB8O C:;040, 2>A?8BK20NI59 A@54K,
A>740=8O 2>A?8BK20NI8E >1I=>AB59.
!0?@02;5=8O 2>A?8B0=8O.
#4FDB9 A4CD46?9A<9 6BECB8G5A:>3> =0?@02;5=8O 2>A?8B0=8O - A>459AB2>20BL
D>@<8@>20=8N C @51U=:0 ;8G=>AB=>9 ?>78F88 =0A;54=8:0 B@048F89 8
:C;LBC@K, 70I8B=8:0 "B5G5AB20 8 B2>@F0 (A>7840B5;O), >B25BAB25==>3> 70
1C4CI55 A2>59 AB@0=K.
2) *5==>AB8 - $>48=0 8 ?@8@>40 ;560B 2 >A=>25 ?0B@8>B8G5A:>3>
=0?@02;5=8O 2>A?8B0=8O. +C2AB2> ?0B@8>B87<0 2>7=8:05B C @51U=:0 2A;54AB285
2>A?8B0=8O C =53> =@02AB25==KE :0G5AB2, 8=B5@5A0, GC2AB20 ;N128 8 C2065=8O
: A2>59 AB@0=5 4 $>AA88, A2>59 @>48=5, A2>54C 8 =0@>4C

47

$>AA88 2 F5;>< (3@0640=A:89 ?0B@8>B87<), >B25BAB25==>AB8, >ICI5=8O
?@8=04;56=>AB8 : A2>54C.
3) #0B@8>B8G5A:>5 =0?@02;5=85 2>A?8B0=8O 1078@C5BAO =0 8455
?0B@8>B87<0 :0: =@02AB25==>3> GC2AB20, :>B>@>5 2K@0AB05B 87 :C;LBC@K
G5;>25G5A:>3> 1KB8O, >A>15==>AB59 >1@070 687=8 8 5U C:;040, =0@>4=KE 8
A5<59=KE B@048F89.
4) $01>B0 ?> ?0B@8>B8G5A:>A?8B0=8N ?@54?>;0305B: D>@<8@>20=85
«?0B@8>B87<0 =0A;54=8:0», 8A?KBK20NI53> GC2AB2> 3>@4>AB8 70 =0A;5485
A2>8E ?@54:>2 (?@54?>;0305B ?@8>1I5=85 45B59 : 8AB>@88, :C;LBC@5 8
B@048F8O< =0H53> =0@>40: >B=>H5=85 : B@C4C, A5B87<0 70I8B=8:0», AB@5AO A>E@0=8BL MB> =0A;5485 (?@54?>;0305B
@0728B85 C 45B59 3>B>2=>AB8 ?@5>4>;520BL B@C4=>AB8 @048 A2>59 A59
@>48=K); «?0B@8>B87<0 A>7840B5;O 8 B2>@F0», CAB@5<;5==>3> 2 1C4CI55,
C25@5==>3> 2 1;03>?>;CG88 8 ?@>F25B0=88 A2>59 $>48=K (?@54?>;0305B
:>=:@5B=K5 :064>4=52=K5 45;0, =0?@02;5==K5, =0?@8<5@, =0 ?>445@60=85
G8AB>BK 8 ?>@O4:0, >?@OB=>AB8 8 0::C@0B=>AB8, 0 2 40;L=59H5< - =0 @0728B85
2A53> A2>53> =0A5;5==>3> ?C=:B0, @09>=0, :@0O, "BG87=K 2 F5;><).
GIB6AB-AD46EF69AAB9 A4CD46?9A<9 6BEC2=>-=@02AB25==>3> =0?@02;5=8O 2>A?8B0=8O - D>@<8@>20=85
A?>A>1=>AB8 : 4CE>2=>A>25@H5=AB2>20=8N,
8=48284C0;L=>->B25BAB25==>2545=8N.
1) *5==>AB8 - 687=L, <8;>A5@485, 4>1@> ;560B 2 >A=>25 4CE>2=>=@02AB25==>3> =0?@02;5=8O 2>A?8B0=8O.
2) CE>2=>-=@02AB25==>5 2>A?8B0=85 =0?@02;5=> =0 @0728B85 F5==>AB=>A2>9 AD5@K 4>H:>;L=8:>2 =0 >A=>25 B2>@G5A:>3> 2708<>459AB28O 2
45BA:>- 27@>A;>9 >1I=>AB8, A>45@60=85< :>B>@>3> O2;O5BAO >A2>5=85
A>F8>:C;LBC@=>3> >?KB0 2 53> :C;LBC@=>-8AB>@8G5A:>< 8 ;8G=>AB=><
0A?5:B0E.
%BJ<4?PAB9 A4CD46?9A<9 6BECF80;L=>3> =0?@02;5=8O 2>A?8B0=8O - D>@<8@>20=85 F5==>AB=>3>
>B=>H5=8O 45B59 : A525:C, @0728B85 4@C65;N18O, C<5=8O
=0E>48BL >1I89 O7K: A 4@C38<8 ;N4L<8.
1) *5==>AB8 - A525: 8 A>B@C4=8G5AB2> ;560B 2 >A=>25
A>F80;L=>3> =0?@02;5=8O 2>A?8B0=8O.
2)  4>H:>;L=>< 45BAB25 @51U=>: =0G8=05B >A20820BL 2A5 <=>3>>1@0785
A>F80;L=KE >B=>H5=89 8 A>F80;L=KE @>;59. "= CG8BAO 459AB2>20BL
A>>1I0, ?>4G8=OBLAO ?@028;0<, =5AB8 >B25BAB25==>ABL 70 A2>8 ?>ABC?:8,
459AB2>20BL 2 8=B5@5A0E 4@C38E ;N459. (>@<8@>20=85 F5==>AB=>A2>3> >B=>H5=8O @51U=:0 : A>F80;L=>:@C65=8N =52>7<>6=> 157

48

3@0<>B=> 2KAB@>5==>3> 2>A?8B0B5;L=>3> ?@>F5AA0, 2 :>B>@>< ?@>O2;O5BAO
;8G=0O A>F80;L=0O 8=8F80B820 @51U=:0 2 45BA:>- 27@>A;KE 8 45BA:8E
>1I=>ABOE.
3) 06=>9 A>AB02;ONI59 A>F80;L=>3> 2>A?8B0=8O O2;O5BAO >A2>5=85
@51U=:>< <>@0;L=KE F5==>AB59, D>@<8@>20=85 C =53> =@02AB25==KE
:0G5AB2 8 8450;>2, A?>A>1=>AB8 68BL 2 A>>B25BAB288 A <>@0;L=K<8
?@8=F8?0<8 8 =>@<0<8 8 2>?;>I0BL 8E 2 A2>5< ?>2545=88. C;LBC@0
?>2545=8O 2 A2>59 >A=>25 8<55B 3;C1>:> A>F80;L=>5 =@02AB25==>5 GC2AB2> C2065=85 : G5;>25:C, : 70:>=0< G5;>25G5A:>3> >1I5AB20. >=:@5B=K5
?@54AB02;5=8O > :C;LBC@5 ?>2545=8O CA20820NBAO @51U=:>< 2<5AB5 A
>?KB>< ?>2545=8O, A =0:>?;5=85< =@02AB25==KE ?@54AB02;5=89,
D>@<8@>20=85< =02K:0 :C;LBC@=>3> ?>2545=8O.
#B;A464F9?PAB9 A4CD46?9A<9 6BEC7=020B5;L=>3> =0?@02;5=8O 2>A?8B0=8O - D>@<8@>20=85 F5==>AB8
?>7=0=8O.
1) *5==>ABL - ?>7=0=85 ;568B 2 >A=>25 ?>7=020B5;L=>3> =0?@02;5=8O
2>A?8B0=8O.
2)  "" ?@>1;5<0 2>A?8B0=8O C 45B59 ?>7=020B5;L=>9 0:B82=>AB8
>E20BK205B 2A5 AB>@>=K 2>A?8B0B5;L=>3> ?@>F5AA0 8 O2;O5BAO =5?@5<5==K<
CA;>285< D>@<8@>20=8O CAB8, A0<>AB>OB5;L=>AB8
8 8=8F80B82=>AB8 @51U=:0. #>7=020B5;L=>5 8 4CE>2=>-=@02AB25==>5
2>A?8B0=85 4>;6=K >ACI5AB2;OBLAO 2 A>45@60B5;L=>< 548=AB25, B0: :0:
7=0=8O =0C: 8 =57=0=85 4>1@0 >3@0=8G8205B 8 45D>@<8@C5B ;8G=>AB=>5
@0728B85 @51U=:0.
3) =0G8A?8B0=85 C @51U=:0 AB@5<;5=8O : 8AB8=5,
AB0=>2;5=85 F5;>AB=>9 :0@B8=K <8@0, 2 :>B>@>9 8=B53@8@>20=>
F5==>AB=>5, M<>F8>=0;L=> >:@0H5==>5 >B=>H5=85 : <8@C, ;N4O<, ?@8@>45,
45OB5;L=>AB8 G5;>25:0.
(<;B9 < B;8BDB63> 8 >74>@>28B5;L=>3> 2>A?8B0=8O - D>@<8@>20=85
F5==>AB=>3> >B=>H5=8O 45B59 : 74>@>2>1@07C 687=8, >2;045=85
M;5<5=B0@=K<8 38385=8G5A:8<8 =02K:0<8 8 ?@028;0<8 157>?0A=>AB8.
1) *5==>AB8 - 687=L 8 74>@>2L5 ;568B 2 >A=>25 D878G5A:>3> 8
>74>@>28B5;L=>3> =0?@02;5=8O 2>A?8B0=8O.
2) (878G5A:>5 8 >74>@>28B5;L=>5 =0?@02;5=85 2>A?8B0=8O >A=>20=> =0
8455 >E@0=K 8 C:@5?;5=8O 74>@>2LO 45B59, AB0=>2;5=8O >A>7=0==>3>
>B=>H5=8O : 687=8 :0: >A=>2>?>;>6=>9 F5==>AB8 8 74>@>2LN :0:
A>2>:C?=>AB8 D878G5A:>3>, 4CE>2=>3> 8 A>F80;L=>3> 1;03>?>;CG8O
G5;>25:0.

49

&DG8B6B9 A4CD46?9A<9 6BEC2>3> 2>A?8B0=8O - D>@<8@>20=85 F5==>AB=>3> >B=>H5=8O
45B59 : B@C4C, B@C4>;N18N 8 ?@8>1I5=85 @51U=:0 : B@C4C.
1) *5==>ABL - B@C4 ;568B 2 >A=>25 B@C4>2>3> =0?@02;5=8O 2>A?8B0=8O.
2) &@C4>2>5 =0?@02;5=85 2>A?8B0=8O =0?@02;5=> =0 D>@<8@>20=85 8
?>445@6:C ?@82KG:8 : B@C4>2>ABC?=>2>9
7040G8; AB@5<;5=85 ?@8=>A8BL ?>;L7C ;N4O<. #>2A54=52=K9 B@C4
?>AB5?5==> ?@82>48B 45B59 : >A>7=0=8N =@02AB25==>9 AB>@>=K B@C40.
%0<>AB>OB5;L=>ABL 2 2K?>;=5=88 B@C4>2KE ?>@CG5=89 A?>A>1AB2C5B
D>@<8@>20=8N >B25BAB25==>AB8 70 A2>8 459AB28O.
1EF9FB9 A4CD46?9A<9 6BEC3> =0?@02;5=8O 2>A?8B0=8O - A?>A>1AB2>20BL
AB0=>2;5=8N C @51U=:0 F5==>AB=>3> >B=>H5=8O : :@0A>B5.
1) *5==>AB8 - :C;LBC@0, :@0A>B0, ;560B 2 >A=>25 MAB5B8G5A:>3>
=0?@02;5=8O 2>A?8B0=8O.
2) -AB5B8G5A:>5 2>A?8B0=85 =0?@02;5=> =0 2>A?8B0=85 ;N128 :
?@5:@0A=>:@C60NI59 >1AB0=>2:5, 2 ?@8@>45, 2 8A:CAAB25, 2
>B=>H5=8OE, @0728B85 C 45B59 65;0=8O 8 C<5=8O B2>@8BL. -AB5B8G5A:>5
2>A?8B0=85 G5@57 >1>30I5=85 GC2AB25==>3> >?KB0 8 @0728B85
M<>F8>=0;L=>9 AD5@K ;8G=>AB8 2;8O5B =0 AB0=>2;5=85 =@02AB25==>9 8
4CE>2=>9 A>AB02;ONI8E 2=CB@5==53> <8@0 @51U=:0. A:CAAB2> 45;05B
@51U=:0 >B7K2G8255, 4>1@55, >1>30I05B 53> 4CE>2=K9 <8@, A?>A>1AB2C5B
2>A?8B0=8N 2>>1@065=8O, GC2AB2. @0A820O 8 C4>1=0O >1AB0=>2:0,
G8AB>B0 ?><5I5=8O, >?@OB=K9 284 45B59 8 27@>A;KE A>459AB2CNB
2>A?8B0=8N EC4>65AB25==>3> 2:CA0.
*9?96O9 BD<9AFABL 2>A?8B0B5;O =0F5;5=0 =0 ?5@A?5:B82C AB0=>2;5=8O
;8G=>AB8 8 @0728B8O @51U=:0. #>MB>@85=B8@>2 :0: >1>1I5==K5 «?>@B@5BK» @51U=:0 : :>=FC
@0==53> 8 4>H:>;L=>3> 2>7@0AB>2.
 A>>B25BAB288 A ("% " >F5=:0 @57C;LB0B>2 2>A?8B0B5;L=>9 @01>BK
=5 >ACI5AB2;O5BAO, B0: :0: F5;52K5 >@85=B8@K >A=>2=>9 >1@07>20B5;L=>9
?@>3@0<H:>;L=>3> >1@07>20=8O =5 ?>4;560B =5?>A@54AB25==>9 >F5=:5, 2 B><
G8A;5 2 2845 ?5403>38G5A:>9 4803=>AB8:8 (<>=8B>@8=30), 8 =5 O2;ONBAO
>A=>20=85< 4;O 8E D>@<0;L=>3> A@02=5=8O A @50;L=K<8 4>AB865=8O<8 45B59.
50

*9?96O9 BD<9AF FD9@ 7B84@).
!0?@02;5=85
2>A?8B0=8O

*5==>AB8

*5;52K5 >@85=B8@K

#0B@8>B8G5A:>5

$>48=0,
?@8@>40

CE>2=>=@02AB25==>5

87=L,

%>F80;L=>5

+5;>25:,
A5B@C4=8G5A
B2>

A?KBK20NI89 GC2AB2> C4>2>;LAB28O 2 A;CG05
>4>1@5=8O 8 GC2AB2> >3>@G5=8O 2 A;CG05
=5>4>1@5=8O A> AB>@>=K 27@>A;KE.
#@>O2;ONI89 8=B5@5A : 4@C38< 45BO< 8
A?>A>1=K9 15A:>=D;8:B=> 83@0BL @O4>< A =8<8.
#@>O2;ONI89 ?>78F8N «/ A0A>1=K9 :
A0<>AB>OB5;L=K< (A2>1>4=K<) 0:B82=K<
459AB28O< 2 >1I5=88.

#>7=020B5;L=>5

#>7=0=85

(878G5A:>5 8
>74>@>28B5;L=>5

4>@>2L5,
687=L

#@>O2;ONI89 8=B5@5A : >:@C60NI57=0B5;L=K9, 0:B82=K9 2 ?>2545=88 8
45OB5;L=>AB8.
#>=8<0NI89 F5==>ABL 687=8 8 74>@>2LO,
2;045NI89 >A=>2=K<8 A?>A>10<8 C:@5?;5=8O
74>@>2LO - D878G5A:0O :C;LBC@0, 70:0;820=85,
CB@5==OO 38<=0AB8:0, ;8G=0O 38385=0,
157>?0A=>5 ?>2545=85 8 4@C3>5; AB@51AB25==>3>
74>@>2LO 8 74>@>2LO >:@C60NI8E.
#@>O2;ONI89 8=B5@5A : D878G5A:8<
C?@06=5=8O< 8 ?>4286=K< 83@0<, AB@5<;5=85 :
;8G=>9 8 :><0=4=>9 ?>1545, =@02AB25==K5 8
2>;52K5 :0G5AB20.

#@>O2;ONI89 ?@82O70==>ABL : 1;87:8< ;N4O<,
15@56=>5 >B=>H5=85 : 682>A>1=K9 ?>=OBL 8 ?@8=OBL, GB> B0:>5
<8;>A5@485, «E>@>H>» 8 «?;>E>». #@>O2;ONI89 A>GC2AB285,
4>1@>
4>1@>BC.

51

&@C4>2>5

&@C4

#>445@6820NI89 M;5<5=B0@=K9 ?>@O4>: 2
>:@C60NI59 >1AB0=>2:5. %B@5<>30BL AB0@H8< 2 4>ABC?=KE B@C4>2KE
459AB28OE. %B@5AB8,
A0<>AB>OB5;L=>AB8, >B25BAB25==>AB8 2
A0<>>1A;C6820=88, 2 1KBC, 2 83@>2>9 8
4@C38E 2840E 45OB5;L=>AB8 (:>=AB@C8@>20=85,
;5?:0, EC4>65AB25==K9 B@C4, 45BA:89 48709=
8 4@C3>5).

-AB5B8G5A:>5

C;LBC@0 8
:@0A>B0

#@>O2;ONI89 M<>F8>=0;L=CN >B7K2G82>ABL
=0 :@0A>BC 2 >:@C60NI5< <8@5 8 8A:CAAB25.
%?>A>1=K9 : B2>@G5A:>9 45OB5;L=>AB8
(87>1@078B5;L=>9, 45:>@0B82=>>D>@<8B5;LA:>9, 9, A;>25A=>@5G52>9, B50B@0;87>20==>9 8 4@C3>5).

52

*9?96O9 BD<9AFAB8
*5;52K5 >@85=B8@K
!0?@02;5=8O
2>A?8B0=8O
#0B@8>B8G5A:>5

$>48=0, ?@8@>40

CE>2=>=@02AB25==>5

87=L,
<8;>A5@485,
4>1@>

N1OI89 A2>N <0;CN @>48=C 8
8<5NI89 ?@54AB02;5=85 > A2>59 AB@0=5 $>AA88, 8A?KBK20NI89 GC2AB2>
?@82O70==>AB8 : @>4=>A=>2=K5 ?@>O2;5=8O
4>1@0 8 7;0, ?@8=8<0NI89 8 C2060NI89
B@048F8>==K5 F5==>AB8, F5==>AB8 A51I5AB20, ?@02482K9, 8A:@5==89,
A?>A>1=K9 : A>GC2AB28N 8 701>B5, :
=@02AB25==>ABC?:C.
%?>A>1=K9 =5 >AB020BLAO @02=>4CH=K< :
GC6>@N, ?@>O2;OBL 701>BC;
%0<>AB>OB5;L=> @07;8G0NI89 >A=>2=K5
>B@8F0B5;L=K5 8 ?>;>68B5;L=K5
G5;>25G5A:85 :0G5AB20, 8=>340 ?@81530O :
?><>I8 27@>A;>3> 2 A8BC0F8OE
<>@0;L=>3> 2K1>@0.

53

%>F80;L=>5

+5;>25:, A5B@C4=8G5AB2>

#@>O2;ONI89 >B25BAB25==>ABL 70 A2>8
459AB28O 8 ?>2545=85; ?@8=8<0NI89 8
C2060NI89 @07;8G8O <564C ;N4L<8.
;045NI89 >A=>20<8 @5G52>9 :C;LBC@K.
@C65;N1=K9 8 4>1@>65;0B5;L=K9,
C<5NI89 A;CH0BL 8 A;KH0BL A>15A54=8:0,
A?>A>1=K9 2708<>459AB2>20BL A> 27@>A;K<8
8 A25@AB=8:0<8 =0 >A=>25 >1I8E 8=B5@5A>2 8
45;.

#>7=020B5;L=>5

#>7=0=85

(878G5A:>5 8
>74>@>28B5;L=>5

4>@>2L5,' 687=L

N1>7=0B5;L=K9, =01;N40B5;L=K9,
8A?KBK20NI89 ?>B@51=>ABL 2
A0<>2K@065=88, 2 B>< G8A;5 B2>@G5A:><.
#@>O2;ONI89 0:B82=>ABL,
A0<>AB>OB5;L=>ABL, 8=8F80B82C 2
?>7=020B5;L=>9, 83@>2>9, :><9
8 ?@>4C:B82=KE 2840E 45OB5;L=>AB8 8 2
A0<>>1A;C6820=88. "1;040NI89 ?5@28G=>9
:0@B8=>9 <8@0 =0 >A=>25 B@048F8>==KE
F5==>AB59.
#>=8<0NI89 F5==>ABL 687=8, 2;045NI89
>A=>2=K<8 A?>A>10<8 C:@5?;5=8O 74>@>2LO 70=OB8O D878G5A:>9 :C;LBC@>9, 70:0;820=85,
CB@5==OO 38<=0AB8:0, A>1;N45=85 ;8G=>9
38385=K 8 157>?0A=>3> ?>2545=8O 8 4@C3>5;
AB@51AB25==>3> 74>@>2LO 8 74>@>2LO
>:@C60NI8E. #@>O2;ONI89 8=B5@5A :
D878G5A:8< C?@06=5=8O< 8 ?>4286=K<
83@0<, AB@5<;5=85 : ;8G=>9 8 :><0=4=>9
?>1545, =@02AB25==K5 8 2>;52K5 :0G5AB20.
5<>=AB@8@CNI89 ?>B@51=>ABL 2
42830B5;L=>9 45OB5;L=>AB8. <5NI89
?@54AB02;5=85 > =5:>B>@KE 2840E A?>@B0 8
0:B82=>3> >B4KE0.

54

&@C4>2>5

&@C4

#>=8<0NI89 F5==>ABL B@C40 2 A51I5AB25 =0 >A=>25 C2065=8O : ;N4O< B@C40,
@57C;LB0B0< 8E 45OB5;L=>AB8. #@>O2;ONI89
B@C4>;N185 ?@8 2K?>;=5=88 ?>@CG5=89 8 2
A0<>AB>OB5;L=>9 45OB5;L=>AB8.

-AB5B8G5A:>5

C;LBC@0 8
:@0A>B0

%?>A>1=K9 2>A?@8=8<0BL 8 GC2AB2>20BL
?@5:@0A=>5 2 1KBC, ?@8@>45, ?>ABC?:0E,
8A:CAAB25.
%B@5B>1@065=8N ?@5:@0A=>3> 2
?@>4C:B82=KE 2840E 45OB5;L=>AB8.

%"$&0!/ $
'>?48 B5D4;B64F9?PAB= BD74A<;4J<<
':;04 3 >1I5AB25==K9 4>3>2>@ CG0AB=8:>2 >1@07>20B5;L=KE >B=>H5=89,
>?8@0NI89AO =0 107>2K5 =0F8>=0;L=K5 F5==>AB8, A>45@60I89 B@048F88
@538>=0 8 "', 7040NI89 :C;LBC@C ?>2545=8O A>>1I5AB2, >?8AK20NI89
?@54<5B=>- ?@>AB@0=AB25==CN A@54C, 45OB5;L=>AB8 8 A>F8>:C;LBC@=K9
:>=B5:AB. ':;04 A?>A>1AB2C5B D>@<8@>20=8N F5==>AB59 2>A?8B0=8O, :>B>@K5
@0745;ONBAO 2A5<8 CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89 (2>A?8B0==8:0<8,
@>48B5;O<8, ?5403>30<8 8 4@C38<8 A>B@C4=8:0<8 "').
"' =0E>48BAO 2 <8:@>@09>=5 «02>:70;L=K9».  A>AB02 "' 2E>48B 2
:>@?CA0: :>@?CA «C@02CH:0» 8 :>@?CA «5A=0O ?>;O=0».
'?@02;5=85 "' >ACI5AB2;O5BAO =0 >A=>25 A>G5B0=8O ?@8=F8?>2
548=>=0G0;8O 8 :>;;5380;L=>AB8.
%?5F8D8:0 8 :>=:@5B=K5 D>@@30=870F88 @0A?>@O4:0 4=52=>3>,
=545;L=>3>, <5AOG=>3>, 3>4>2>3> F8:;0 687=8 "' >B@065=K 2 'AB025
CG@5645=8O, ""# " 8 4@C3>9 ;>:0;L=>9 4>:C<5=B0F88.
"' @01>B05B 2 @568<5 5-B8 4=52=>9 =545;8 A 2KE>4=K<8 4=O<8: AC11>B0,
2>A:@5A5=L5 8 ?@074=8G=K5 4=8. @5BK "': A 7.00 4> 19.00 (12 G0A>2).
 "' DC=:F8>=8@C5B 25 3@C?? >1I5@072820NI59 =0?@02;5==>AB8. "'
O2;O5BAO <56< ?> @>1>B>B5E=8:5 8
B5E=8G5A:>=AB@C8@>20=8N 2 @0<:0E @50;870F88 :@052>3> ?@>5:B0
«5BA:89 B5E=><8@» 4;O 45B59 4>H:>;L=>3> 2>7@0AB0.
':;04 A?>A>1AB2C5B D>@<8@>20=8N F5==>AB59 2>A?8B0=8O, :>B>@K5
@0745;ONBAO 2A5<8 CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89 (2>A?8B0==8:0<8,
@>48B5;O<8, ?5403>30<8 8 4@C38<8 A>B@C4=8:0<8 "').
55

BEC=AB@C8@>20=85 2>A?8B0B5;L=>9 A@54K "' AB@>8BAO =0 >A=>25
A;54CNI8E M;5<5=B>2: A>F8>:C;LBC@=K9 :>=B5:AB, A>F8>:C;LBC@=K5 F5==>AB8,
C:;04, 2>A?8BK20NI0O A@540, >1I=>ABL, 45OB5;L=>ABL 8 A>1KB85. 0640O 87 MB8E
:0B53>@89 >15A?5G8205B F5;>AB=>ABL A>45@60=8O 8 8<55B A2>5 =0?>;=5=85 4;O
@5H5=8O 7040G 2>A?8B0=8O 8 AB0=>2;5=8O ;8G=>AB8 @515=:0.
BEC A>2>:C?=>ABL >:@C60NI8E @515=:0 A>F80;L=>
- F5==>AB=KE >1AB>OB5;LAB2, 2;8ONI8E =0 53> ;8G=>AB=>5 @0728B85 8
A>459AB2CNI8E 53> 2:;NG5=8N 2 A>2@5<5==CN :C;LBC@C. >A?8BK20NI0O A@540
>?@545;O5BAO, A >4=>9 AB>@>=K, F5;O<8 8 7040G0<8 2>A?8B0=8O, A 4@C3>9
3 :C;LBC@=K<8 F5==>ABO<8, >1@07F0<8 8 ?@0:B8:0<8.  MB>< :>=B5:AB5,
>A=>2=K<8 E0@0:B5@8AB8:0<8 A@54K O2;ONBAO 55 =0AKI5==>ABL 8
AB@C:BC@8@>20==>ABL.
>A?8BK20NI0O A@540 AB@>8BAO ?> B@5< ;8=8O<:
ü «>B 27@>A;>3>», :>B>@K9 A>7405B @072820NICN ?@54<5B=> ?@>AB@0=AB25==CN A@54C, =0AKI0O 55 F5==>ABO<8 8 AB A>2<5AB=>AB8 @515=:0 8 27@>A;>3>»: 2>A?8BK20NI0O A@540,
=0?@02;5==0O
=0
2708<>459AB285
@515=:0
8
27@>A;>3>,
@0A:@K20NI53> AAB8 2>A?8B0=8O;
ü «>B @515=:0»: 2>A?8BK20NI0O A@540, 2 :>B>@>9 @515=>:
A0<>AB>OB5;L=> B2>@8B, 6825B 8 ?>;CG05B >?KB ?>78B82=KE
4>AB865=89, >A20820O F5==>AB8 8 A65==K5 27@>A;K<.
"5MABEF< (EBB5M9EF64) "'
5MABEFP 3 MB> :0G5AB25==0O E0@0:B5@8AB8:0 ;N1>3> >1J548=5=8O ;N459,
>?@545;ONI0O AB5?5=L 8E 548=AB20 8 A>2<5AB=>AB8, 4;O :>B>@>9 E0@0:B5@=>
A>459AB285 4@C3 4@C3C, A>B2>@G5AB2> 8 A>?5@56820=85, 2708<>?>=8<0=85 8
2708<=>5 C2065=85, =0;8G85 >1I8E A8AB59 8 A2. #>=OB85
>1I=>ABL >A=>2K205BAO =0 A>F80;L=>9 A8BC0F88 @0728B8O @515=:0, :>B>@0O
?@54AB02;O5B A>1>9 8AE>4=K9 <><5=B 4;O 2A5E 48=0<8G5A:8E 87<5=5=89,
?@>8AE>4OI8E 2 @0728B88 2 B5G5=85 40==>3> ?5@8>40. "=0 >?@545;O5B F5;8:><
8 ?>;=>ABLN B5 D>@B ?CBL, A;54CO ?> :>B>@>: ?@8>1@5B05B
=>2K5 8 =>2K5 A2>9AB20 A2>59 ;8G=>AB8, G5@?0O 8E 87 A@54K, :0: 87 >A=>2=>3>
8AB>G=8:0 A2>53> @0728B8O, B>B ?CBL, ?> :>B>@>F80;L=>5 AB0=>28BAO
8=48284C0;L=K<.
#@>F5AA 2>A?8B0=8O 45B59 4>H:>;L=>3> 2>7@0AB0 A2O70= A 45OB5;L=>ABLN
@07=KE 284>2 >1I=>AB59:
56

9FE>4S B5MABEFP. "1I5AB2> A25@AB=8:>2 3 =5>1E>48<>5 CA;>285
?>;=>F5==>3> @0728B8O ;8G=>AB8 @515=:0. 45AL >= =5?@5@K2=> ?@8>1@5B05B
A?>A>1K >1I5AB25==>3> ?>2545=8O, ?>4 @C:>2>4AB2>< 2>A?8B0B5;O CG8BAO
C<5=8N 4@C6=> 68BL, A>>1I0 83@0BL, B@C48BLAO, 70=8<0BLAO, 4>AB830BL
?>AB02;5==>9 F5;8. +C2AB2> ?@825@65==>AB8 : 3@C??5 A25@AB=8:>2 @>6405BAO
B>340, :>340 @515=>: 2?5@2K5 =0G8=05B ?>=8<0BL, GB> @O4>< A =8< B0:85 65, :0:
>= A0<, GB> A2>8 65;0=8O =5>1E>48<> A>>B=>A8BL A 65;0=8O<8 4@C38E.
>A?8B0B5;L 2>A?8BK205B C 45B59 =02K:8 8 ?@82KG:8 ?>2545=8O, :0G5AB20,
>?@545;ONI85 E0@0:B5@ 2708<>>B=>H5=89 @515=:0 A 4@C38<8 ;N4L<8 8 53>
CA?5H=>ABL 2 B>< 8;8 8=>< A>>1I5AB25. #>MB> ?@840BL 45BA:8<
2708<>>B=>H5=8O< 4CE 4>1@>65;0B5;L=>AB8, @072820BL C 45B59 AB@5<;5=85 8
C<5=85 ?><>30BL :0: AB0@H8<, B0: 8 4@C3 4@C3C, >:07K20BL A>?@>B82;5=85
?;>E8< ?>ABC?:0<, >1I8<8 CA8;8O<8 4>AB830BL ?>AB02;5==>9 F5;8.
"4=8< 87 284>2 45BA:8E >1I=>AB59 O2;ONBAO @07=>2>7@0AB=K5 45BA:85
>1I=>AB8.  45BA:>< A04C >15A?5G5=0 2>7<>6=>ABL 2708<>459AB28O @515=:0
:0: A> AB0@H8<8, B0: 8 A <;04H8<8 45BL<8. :;NG5==>ABL @515=:0 2
>B=>H5=8O A> AB0@H8<8, ?><8<> ?>4@060=8O 8 ?@8>1@5B5=8O =>2>3>, @>6405B
>?KB ?>A;CH0=8O, A;54>20=8O >1I8< 4;O 2A5E ?@028;0<, =>@<0< ?>2545=8O 8
B@048F8O<. "B=>H5=8O A <;04H8<8 ?> 2>7@0ABC 45BL<8 3 MB> 2>7<>6=>ABL
4;O @515=:0
AB0BL 02B>@8B5B>< 8 >1@07F>< 4;O ?>4@060=8O, 0 B0:65
?@>AB@0=AB2> 4;O 2>A?8B0=8O 701>BK 8 >B25BAB25==>AB8.
9FE>B 3 6;DBE?4S B5MABEFP. ;O >1I=>AB8 E0@0:B5@=> A>459AB285 4@C3
4@C3C, A>B2>@G5AB2> 8 A>?5@56820=85, 2708<>?>=8<0=85 8 2708<=>5 C2065=85,
>B=>H5=85 : @515=:C :0: : ?>;=>?@02=>25:C, =0;8G85 >1I8E
A8AB59 8 A2 C 2A5E CG0AB=8:>2 >1I=>AB8.
5BA:>-27@>A;0O >1I=>ABL O2;O5BAO 8AB>G=8:>< 8 <5E0=87<>< 2>A?8B0=8O
@515=:0. !0E>4OAL 2 >1I=>AB8, @515=>: A=0G0;0 ?@8>1I05BAO : B5< ?@028;0<8
=>@<0<, :>B>@K5 2=>AOB 27@>A;K5 2 >1I=>ABL, 0 70B5< MB8 =>@< 8 AB0=>2OBAO 53> A>1AB25==K<8.
"1I=>ABL AB@>8BAO 8 70405BAO A8AB5<>9 A2O759 8 >B=>H5=89 55
CG0AB=8:>2.  :064>< 2>7@0AB5 8 :064>< A;CG05 >=0 1C45B >1;040BL A2>59
A?5F8D8:>9 2 7028A8<>AB8 >B @5H05A?8B0B5;L=KE 7040G.
#DBH9EE4S B5MABEFP 2:;NG05B A>B@C4=8:>2 "'
8 2A5E 27@>A;KE G;5=>2 A5<59 2>A?8B0==8:>2, :>B>@KE A2O7K20NB =5 B>;L:>
>1I85 F5==>AB8, F5;8 @0728B8O 8 2>A?8B0=8O 45B59, => 8 C2065=85 4@C3 :
4@C3C. "A=>2=0O 7040G0 3 >1J548=5=85 CA8;89 ?> 2>A?8B0=8N @515=:0 2 A52545=85 @515=:0 A8;L=> @07;8G05BAO 4><0 8 2 "'. 57
A>2<5AB=>3> >1AC645=8O 2>A?8BK20NI8<8 27@>A;K<8 >A>15==>AB59
57

@515=:0 =52>7<>6=> 2KO2;5=85 8 2 40;L=59H5< A>740=85 CA;>289,
:>B>@K5=5>1E>48 >?B8<0;L=>3> 8 ?>;=>F5==>3> @0728B8O 8
2>A?8B0=8O.
#DBH9EE CAB>9G820O
A8AB5<0
A2O759
8 >B=>H5=89 <564C ;N4L<8, 548=AB2> F5;59 8 7040G
2>A?8B0=8O, @50;87C5<>5 2A5<8 A>B@C4=8:0<8 "'. %0<8 CG0AB=8:8
>1I=>AB8 4>;6=K @0745;OBL B5 F5==>AB8, :>B>@K5 70;>65=K 2 >A=>2C.
"A=>2>9 MDD5:B82=>AB8 B0:>9 >1I=>AB8 O2;O5BAO @5D;5:A8O A>1AB25==>9
?@>D5AA8>=0;L=>9 45OB5;L=>AB8. >A?8B0B5;L, 0 B0:65 4@C385 A>B@C4=8:8
4>;6=K:
1KBL ?@8<5@>< 2 D>@<8@>20=88 ?>;=>F5==KE 8 AD>@<8@>20==KE
F5==>AB=KE >@85=B8@>2, =>@< >1I5=8O 8 ?>2545=8O;
<>B828@>20BL 45B59 : >1I5=8N 4@C3 A 4@C3><, ?>>I@OBL 4065 A01I5=8N 8 2708<>459AB28N;
?>>I@OBL 45BA:CN 4@C61C, AB0@0BLAO, GB>1K 4@C610 <564C
>B45;L=K<8 45BL<8 2=CB@8 3@C??K A25@AB=8:>2 ?@8=8<0;0 >1I5AB25==CN
=0?@02;5==>ABL;
701>B8BLAO > B><, GB>1K 45B8 =5?@5@K2=> ?@8>1@5B0;8 >?KB
>1I5=8O =0 >A=>25 GC2AB20 4>1@>65;0B5;L=>AB8;
A>459AB2>20BL ?@>O2;5=8N 45BL<8 701>BK >1 >:@C60NI8E, CG8BL
?@>O2;OBL GCB:>ABL : A25@AB=8:0<, ?>1C640BL 45B59 A>?5@56820BL,
15A?>:>8BLAO, ?@>O2;OBL 2=8<0=85 : 701>;52H520@8IC;
2>A?8BK20BL 2 45BOE B0:85 :0G5AB20 ;8G=>AB8, :>B>@K5 ?><>30NB
2;8BLAO 2 >1I5AB2> A25@AB=8:>2 (>@30=87>20==>ABL, >1I8B5;L=>ABL,
>B7K2G82>ABL, I54@>ABL, 4>1@>65;0B5;L=>ABL 8 ?@.);
CG8BL 45B59 A>2<5AB=>9 45OB5;L=>AB8, =0AKI0BL 8E 687=L
A>1KB8O<8, :>B>@K5 A?;0G820;8 1K 8 >1J548=O;8 @51OB;
2>A?8BK20BL 2 45BOE GC2AB2> >B25BAB25==>AB8 ?5@54 3@C??>9 70 A2>5
?>2545=85.
G?PFGD4 CB6989A4> ;A4K<@4S
EBEF46?SRM4S G>?484.
C;LBC@0 ?>2545=8O 27@>A;KE 2 45BA:>< A04C =0?@02;5=0 =0 A>740=85
2>A?8BK20NI59 A@54K :0: CA;>28O @5H5=8O 2>7@0AB=KE 7040G 2>A?8B0=8O.
"1I0O ?A8E>;>38G5A:0O 0B<>AD5@0, M<>F8>=0;L=K9 =0AB@>9 3@C??K,
A?>:>9=0O >1AB0=>2:0, >BACBAB285 A?5H:8, @07C<=0O A10;0=A8@>20==>ABL
?;0=>2 3 MB> =5>1E>4828O =>@<0;L=>9 687=8 8 @0728B8O 45B59.
% F5;LN A>740=8O ?@>D5AA8>=0;L=>9 :C;LBC@K 2 "', C;CGH5=8O
8<8460, >?B8<870F88 2708<>459AB28O A 2=5H=59 A@54>9 8 2=CB@8 "',
A>25@H5=AB2>20=8O C?@02;5=G5A:>9 AB@C:BC@K, >15A?5G5=8O CAB>9G82>3>
@0728B8O 2 CA;>28OE A>2@5<5==KE ?5@5<5= 2 "' CB25@645=> #>;>65=85 >

58

:>45:A5 MB8:8 8 A;C651=>3> ?>2545=8O @01>B=8:>2 "' 5BA:89 A04
71 «C@02CH:0», ?@8:07 7 108 >B 31.08.2018 3.
 >1I5=88 A CG0AB=8:0<8 >1@07>20B5;L=>3> ?@>F5AA0, 3@0640=0<8 8
:>;;530<8 A> AB>@>=K @01>B=8:0 >1@07>20B5;L=>3> CG@5645=8O =54>?CAB83> 2840 2KA:07K20=8O 8 459AB28O 48A:@8<8=0F8>==>3>
E0@0:B5@0 ?> ?@87=0:0< ?>;0, 2>7@0AB0, @0AK, =0F8>=0;L=>AB8, O7K:0,
3@0640=AB20, A>F80;L=>3>, 83> 8;8 A5<59=>3> ?>;>65=8O,
?>;8B8G5A:8E 8;8@5;838>7=KE ?@54?>GB5=89;
÷
?@5=51@568B5;L=K9 B>=, 3@C1>ABL, 70=>AG82>ABL, =5:>@@5:B=>ABL
70<5G0=89,?@54JO2;5=85 =5?@02><5@=KE, =570A;C65==KE >128=5=89;
÷
C3@>7K, >A:>@18B5;L=K5 2K@065=8O 8;8 @5?;8:8, 459AB28O,
?@5?OBAB2CNI85 =>@<0;L=>1I5=8N 8;8 ?@>2>F8@CNI85 ?@>B82>?@02=>5
?>2545=85.
#5403>38 "' 4>;6=K A?>A>1AB2>20BL CAB0=>2;5=8N 2 :>;;5:B825
45;>2KE 2708<>>B=>H5=89 8 :>=AB@C:B82=>3> A>B@C4=8G5AB20 4@C3 A 4@C3><,
4>;6=K 1KBL 256;82K<8, 4>1@>65;0B5;L=K<8, :>@@5:B=K<8, 2=8<0B5;L=K<8 8
?@>O2;OBL B>;5@0=B=>ABL 2 >1I5=88 A 45BL<8, @>48B5;O<8 (70:>==K<8
?@54AB028B5;O<8), >1I5AB25==>ABLN 8 :>;;530<8.
#5403>38G5A:85 @01>B=8:8 2 ?@>F5AA5 2708<>459AB28O A 2>A?8B0==8:0<8:
A0<8 2K18@0NB ?>4E>4OI89 AB8;L >1I5=8O A 2>A?8B0==8:0<8,
>A=>20==K9 =0 2708<=>< C2065=88;
=8:>340 =5 4>;6=K B5@OBL GC2AB20 <5@K 8 A0<>>1;040=8O;
2K18@0NB B0:85 <5B>4K @01>BK, :>B>@K5 ?>>I@ONB 2 53>
2>A?8B0==8:0E @0728B85 ?>;>68B5;L=KE G5@B 8 2708<>>B=>H5=89:
A0<>AB>OB5;L=>ABL,
8=8F80B82=>ABL,
>B25BAB25==>ABL,
A0<>:>=B@>;L,
A0<>2>A?8B0=85, 65;0=85 4@C65A:8 A>B@C4=8G0BL 8 ?><>30BL 4@C38<;
?@8 >F5=:5 ?>2545=8O 8 4>AB865=89 A2>8E 2>A?8B0==8:>2 AB@5C2065=85 8 25@C 2 A2>8 A8;K, ?>:07K20NB 8< 2>7<>6=>AB8
A>25@H5=AB2>20=8O, ?>2KH0NB <>B820F8N 2>A?8B0=8O 8 >1CG5=8O;
O2;ONBAO 15A?@8AB@0AB=K<8, >48=0:>2> 4>1@>65;0B5;L=K<8 8
1;03>A:;>==K<8 :> 2A5< A2>8< 2>A?8B0==8:0<;
70I8I0NB 8=B5@5AK 8 1;03>A>AB>O=85 2>A?8B0==8:>2 8 ?@8;030NB
2A5 CA8;8O 4;O B>3>, GB>1K 70I8B8BL 2>A?8B0==8:>2 >B D878G5A:>3> 8 (8;8)
?A8E>;>38G5A:>3> =0A8;8O;
>ACI5AB2;ONB 4>;6=CN 701>BC 8 >15A?5G820NB :>=D845=F80;L=>ABL
2> 2A5E45;0E, 70B@03820NI8E 8E 8=B5@5AK;
?@82820NB 8< F5==>AB8, A>72CG=K5 <564C=0@>4=K< AB0=40@B0< ?@02
G5;>25:0.
AB@5;>68B5;L=K< ?@8<5@><;
59

?@8<5=ONB A2>N 2;0ABL A A>1;N45=85< 70:>=>40B5;L=KE 8
<>@0;L=KE =>@<8 A>AB@040=85<.
%BJG?PFGDAO= >BAF9>EF
!BJG?PFGDAO= >BAF9>EF 3 MB> A>F80;L=0O 8 :C;LBC@=0O A@540, 2
:>B>@>9 G5;>25: @0AB5B 8 6825B. "= B0:65 2:;NG05B 2 A51O 2;8O=85, :>B>@>5
A@540 >:07K205B =0 8458 8 ?>2545=85 G5;>25:0.
!BJG?PFGDAO9 J9AABEF< 3 MB> >A=>2=K5 687=5==K5 A?@545;ONI85 >B=>H5=85 G5;>25:0 : >:@C60NI59 459AB28B5;L=>AB8 8
45B5@<8=8@CNI85 >A=>2=K5 <>45;8 A>F80;L=>3> ?>2545=8O, :>B>@K<8
@C:>2>4AB2C5BAO G5;>25: 2 ?>2A54=52=>9 687=8 8 45OB5;L=>AB8.
%>F8>:C;LBC@=K5 F5==>AB8 O2;ONBAO >?@545;ONI8<8 2 AB@C:BC@=>A>45@60B5;L=>9 >A=>25 #@>3@0<A?8B0=8O.
%>F8>:C;LBC@=K9
:>=B5:AB
2>A?8B0=8O
O2;O5BAO
20@80B82=>9
A>AB02;ONI59 2>A?8B0B5;L=>9 ?@>3@0<:C;LBC@=K5,
:>=D5AA8>=0;L=K5 8 @538>=0;L=K5 >A>15==>AB8 8 =0?@02;5= =0 D>@<8@>20=85
@5AC@A>2 2>A?8B0B5;L=>9 ?@>3@0<F8>:C;LBC@=>3> :>=B5:AB0 >?8@05BAO =0 ?>AB@>5=85
A>F80;L=>3> ?0@B=5@AB20 "'.
)4D4>F9D4 EBJ<4?PAOI C4DFA9DB6 ""
(>@459AB28O
!08<5=>20=85
$57C;LB0B
A>F80;L=>3> ?0@B=5@0
2708<>459AB28O
8:@>@09>=
'G0AB85 2 A>2<5AB=KE
"1>30I5=85 A>F80;L=>02>:70;L=K9»
?@>5:B0E, 0:F8OE, >@30=870F8O M<>F8>=0;L=>9 AD5@K
?@074=8G=KE <5@>?@8OB89 4;O
45B59, 2>A?8B0=85
68B5;59 <8:@>@09>=0
?0B@8>B87<0

5BA:0O 181;8>B5:0

>;;5:B82=K5
?>A5I5=8O, $0AH8@5=85 :@C3>7>@0
;8B5@0BC@=K5
25G5@0,
2>A?8B0==8:>2,
?>7=020B5;L=K5
15A54K, ?@8>1I5=85
:
28:B>@8=K
EC4>65AB25==>9
;8B5@0BC@5.

«2>@5F <>;>4568»

'G0AB85
2
B2>@G5A:8E
:>=:C@A0E, D5AB820;OE

#@8>1@5B5=85 =>2KE
7=0=89, 2>7<>6=>ABL
@0728B8O
A2>8E
B2>@G5A:8E
A?>A>1=>AB59.
60

%", 7 7

5BA:0O ;0

5BA:0O N=>H5A:0O
A?>@B82=0O H:>;0

"' «+09:>2A:89
8=4CAB@80;L=K9
:>;;546»

'
+09:>2A:89 F5=B@
@0728B8O :C;LBC@K

@C3;K9 AB>; A CG8B5;O<8,
A5<8=0@K,
M:A:C@A88
A
2>A?8B0==8:0<8 2 H:>;C,
2AB@5G8
8
15A54K
A
2K?CA:=8:0<8,
?@>A<>B@
>B:@KBKE C@>:>2 2 H:>;5 4;O
?5403>3>2
"'
8
>1@07>20B5;L=>9 45OB5;L=>AB8
2 "' 4;O CG8B5;59, 2AB@5G8
@>48B5;59
A
1C4CI8<8
CG8B5;O<8,
CG0AB85
2
:>=:C@A0E
@>1>B>B5E=8G5A:>3>
=0?@02;5=8O,
2
:>=:C@A5
8AA;54>20B5;LA:8E ?@>5:B>2
« 8@ >B:@KB89».
'G0AB85
2
A>2<5AB=KE
<5@>?@8OB8OE
(?>A845;:8,
AB8=K5,
7=0:>
A
=0@>4=K<8
8=AB@C<5=B0<8).
'G0AB85
2
BC@8AB8G5A:8E
A;5B0E,
A?>@B82=KE
A>@52=>20=8OE
!0AB02=8G5AB2>
=04
ABC45=B0<8 4;O
D>@<8@>20=8O
?@>D5AA8>=0;L=KE
:>;K,
A5<8=0@K,
:>=AC;LB0F88,
?>:07
>1@07>20B5;L=>9
45OB5;L=>AB8.
&2>@G5A:85
:>=:C@AK,
2KAB02:8 45BA:8E @01>B,
2>A?8B0B5;L=K5
<5@>?@8OB8O

"15A?5G5=85
?@55AB8 "8
!"".
%>740=85 ?>78B82=>3>
>B=>H5=8O C 45B59 :
1C4CI59 A>F80;L=>9
@>;8 3 CG5=8:.
'3;C1;5=85 8=B5@5A0 :
H:>;5,
A=OB85
GC2AB20
B@52>38.

#>2KH5=85
9
:C;LBC@K 45B59

#@8>1I5=85 45B59 8 8E
@>48B5;59 : 74>@>2>1@07C 687=8.
#@8>1I5=85 ABC45=B>2
: 1C4CI59?@>D5AA88 2
CA;>28OE @50;L=>3>
@01>G53> <5AB0.

#@8>1@5B5=85 =>2KE
7=0=89, 2>7<>6=>ABL
@0728B8O
A2>8E
B2>@G5A:8E
A?>A>1=>AB59,
>1>30I5=85
61

' *5=B@ @0728B8O
>1@07>20=8O

A>F80;L=>M<>F8>=0;L=>9
AD5@K 45B59
803=>AB8:0
C@>2=O %>459AB285 2
>?@545;5=88
@0728B8O @515=:0,
:>=AC;LB0B82=0O
?><>IL >1@07>20B5;L=>3>
<0@H@CB0 @515=:0.
@>48B5;O<
?>
2>?@>A0<
>1CG5=8O 8 2>A?8B0=8O

%>45@60=85 #@>3@0<A?8B0=8O @50;87C5BAO 2 E>45 >A2>5=8O 45BL<8
4>H:>;L=>3> 2>7@0AB0 2A5E >1@07>20B5;L=KE >1;0AB59, >1>7=0G5==KE 2> ("% ",
>4=>9 87 7040G :>B>@>3> O2;O5BAO >1J548=5=85 2>A?8B0=8O 8 >1CG5=8O 2 F5;>AB=K9
>>1@07>20B5;L=K9 ?@>F5AA =0 >A=>25 4CE>2=>-=@02AB25==KE 8 A>F8>:C;LBC@=KE
F5==>AB59, ?@8=OBKE 2 >1I5AB25 ?@028; 8 =>@< ?>2545=8O 2 8=B5@5A0E G5;>25:0,
A51I5AB20:
-A>F80;L=>-:><5 @0728B85;
?>7=020B5;L=>5 @0728B85;
@5G52>5 @0728B85,
EC4>65AB25==>-MAB5B8G5A:>5 @0728B85;
D878G5A:>5 @0728B85.
"5D4;B64F9?PA4S
B5?4EFP
%>F80;L=>:><5
@0728B85

#>7=020B5;L=>5

%B89D:4A<9
'A2>5=85 =>@< 8 F5==>AB59, ?@8=OBKE 2 >1I5AB25,
2:;NG0O <>@0;L=K5 8 =@02AB25==K5 F5==>AB8; @0728B85
>1I5=8O 8 2708<>459AB28O @515=:0 A> 27@>A;K<8 8
A25@AB=8:0<8;
AB0=>2;5=85
A0<>AB>OB5;L=>AB8,
F5;5=0?@02;5==>AB8 8 A0<>@53C;OF88 A>1AB25==KE
459AB289; @0728B85 A>F80;L=>3> 8 M<>F8>=0;L=>3>
8=B5;;5:B0,
M<>F8>=0;L=>9
>B7K2G82>AB8,
A>?5@56820=8O, D>@<8@>20=85 3>B>2=>AB8 : A>2<5AB=>9
45OB5;L=>AB8
A>
A25@AB=8:0<8,
D>@<8@>20=85
C2068B5;L=>3> >B=>H5=8O 8 GC2AB20 ?@8=04;56=>AB8 :
A2>59 A5>1I5AB2C 45B59 8 27@>A;KE 2 "';
D>@<8@>20=85 ?>78B82=KE CAB0=>2>: : @07;8G=K<
2840< B@C40 8 B2>@G5AB20;D>@<8@>20=85
>A=>2
157>?0A=>3> ?>2545=8O 2 1KBC, A>F8C<5, ?@8@>45.
$0728B85
8=B5@5A>2 45B59, ;N1>7=0B5;L=>AB8 8 62

@0728B85

$5G52>5 @0728B85

)C4>65AB25==>MAB5B8G5A:>5 @0728B85

(878G5A:>5 @0728B85

?>7=020B5;L=>9
<>B820F88;
D>@<8@>20=85
?>7=020B5;L=KE 459AB289, AB0=>2;5=85 A>7=0=8O;
@0728B85 2>>1@065=8O 8 B2>@G5A:>9 0:B82=>AB8;
D>@<8@>20=85 ?5@28G=KE ?@54AB02;5=89 > A515,
4@C38E ;N4OE, >1J5:B0E >:@C60NI53> <8@0, >
A2>9AB20E 8 >B=>H5=8OE >1J5:B>2 >:@C60NI53> <8@0
(D>@<5, F25B5, @07<5@5, <0B5@80;5, 72CG0=88, @8B<5,
B5;8G5AB25, G8A;5, G0AB8 8 F5;><, ?@>AB@0=AB25
8 2@5<5=8, 42865=88 8 ?>:>5, ?@8G8=0E 8 A;54AB28OE
8 4@.), > <0;>9 @>48=5 8 "B5G5AB25, ?@54AB02;5=89 >
A>F8>:C;LBC@=KE F5==>ABOE =0H53> =0@>40, >1
>B5G5AB25==KE B@048F8OE 8 ?@074=8:0E, > ?;0=5B5
5<;O :0: >1I5< 4><5 ;N459, >1 >A>15==>ABOE 55
?@8@>4K,
<=>3>>1@0788 AB@0= 8 =0@>4>2 <8@0.
;045=85 @5GLN :0: A@54AB2>< >1I5=8O 8 :C;LBC@K;
>1>30I5=85 0:B82=>3> A;>20@O; @0728B85 A2O7=>9,
3@0<<0B8G5A:8
?@028;L=>9
480;>38G5A:>9
8
<>=>;>38G5A:>9 @5G8; @0728B85 @5G52>3> B2>@G5AB20;
7=0:> A :=86=>9 :C;LBC@>9.
$0728B85 ?@54?>AK;>: F5==>AB=> - A2>3>
2>A?@8OB8O 8 ?>=8<0=8O ?@>872545=89 8A:CAAB20
(A;>25A=>3>, 3>, 87>1@078B5;L=>3>), <8@0
?@8@>4K; AB0=>2;5=85 MAB5B8G5A:>3> >B=>H5=8O :
>:@C60NI5@<8@>20=85 M;5<5=B0@=KE
?@54AB02;5=89 > 2840E 8A:CAAB20; 2>A?@8OB85 ;L:;>@0;
EC4>65AB25==>9
;8B5@0BC@K,
AB820=85
A>?5@56820=8O
?5@A>=060<
EC4>65AB25==KE ?@>872545=89.
%B0=>2;5=85 F5;5=0?@02;5==>AB8 8 A0<>@53C;OF88 2
42830B5;L=>9 AD5@5; AB0=>2;5=85 F5==>AB59 74>@>2>3>
>1@070 687=8, >2;045=85 53> M;5<5=B0@=K<8 =>@<0<8
8 ?@028;0<8 (2 ?8B0=88, 42830B5;L=>< @568<5,
70:0;820=88, ?@8 D>@<8@>20=88 ?>;57=KE ?@82KG5:
8
4@.).

63

$50;870F8O F5;8 8 7040G #@>3@0<A?8B0=8O >ACI5AB2;O5BAO ?>
=0?@02;5=8O< 2>A?8B0B5;L=>9 @01>BK, >?@545;U==KE =0 >A=>25 107>2KE
F5==>AB59 2>A?8B0=8O 2 $>AA88, :>B>@K5 =5 70<5=ONB 8 =5 4>?>;=ONB A>1>9
45OB5;L=>ABL ?> ?OB8 >1@07>20B5;L=K< >1;0ABO<, 0 D>:CA8@CNB ?@>F5AA5
CA2>5=8O @515=:>< 107>2KE F5==>AB59 2 F5;>AB=>< >1@07>20B5;L=>< ?@>F5AA5.
#@0:B8G5A:0O @50;870F8O F5;8 8 7040G 2>A?8B0=8O >ACI5AB2;O5BAO 2 @0<:0E
A;54CNI8E
=0?@02;5=89
(<>4C;59)
2>A?8B0B5;L=>9
@01>BK

64

#4FDB9 A4CD46?9A<9 6BECABL $B8A=>25 ?0B@8>B8G5A:>3> =0?@02;5=8O 2>A?8B0=8O.
#0B@8>B87< 4 MB> 2>A?8B0=85 2 @515=:5 =@02AB25==KE :0G5AB2, GC2AB20 ;N128,
8=B5@5A0 : A2>59 AB@0=5 4 $>AA88, A2>59 @>48=5, A2>54C 8
=0@>4C $>AA88 2 F5;>< (3@0640=A:89 ?0B@8>B87<), >B25BAB25==>AB8, B@C4>;N18O;
>ICI5=8O ?@8=04;56=>AB8 : A2>54C.
#0B@8>B8G5A:>5 =0?@02;5=85 2>A?8B0=8O AB@>8BAO =0 8455 ?0B@8>B87<0 :0:
=@02AB25==>3> GC2AB20, :>B>@>5 2K@0AB05B 87 :C;LBC@K G5;>25G5A:>3> 1KB8O,
>A>15==>AB59 >1@070 687=8 8 55 C:;040, =0@>4=KE 8 A5<59=KE B@048F89.
484K< C4FDB7B A4CD46?9A@<8@>20BL ?5@2>=0G0;L=K5 ?@54AB02;5=8O > 3>@>45, 2
% 1 3>40 4> 3
:>B>@>< 682CB 8 53> 68B5;OE.
;5B
2. (>@<8@>20BL ?@54AB02;5=85 > 4>1@5 8 7;5, A?>A>1AB2>20BL
3C<0=8AB8G5A:>9 =0?@02;5==>AB8 ?>2545=8O.
3. (>@<8@>20BL ;N1>2L 8 ?@82O70==>ABL : A2>59 A5 8 ;5B

(>@<8@>20BL ;N1>2L : @>4=>4=>9 ?@8@>45,
@>4=>53> =0@>40.
2) >A?8BK20BL ;N1>2L, C2065=85 : A2>8< =0F8>=0;L=K<
>A>15==>ABO< 8 GC2AB20 A>1AB25==>3> 4>AB>8=AB20 :0:
?@54AB028B5;O A2>53> =0@>40.
3) >A?8BK20BL C2068B5;L=>5 >B=>H5=85 : 3@0640=0< $>AA88 2
F5;><, A2>8< A>>B5G5AB25==8:0< 8 A>3@0640=0<,
?@54AB028B5;O< 2A5E =0@>4>2 $>AA88, : @>25A=8:0<, @>48B5;O<,
A>A54O<, AB0@H8<, 4@C38< ;N4O< 2=5 7028A8<>AB8 >B 8E
MB=8G5A:>9 ?@8=04;56=>AB8.
%>45@60=85 @01>BK
1)

65

%>6<5EF=4O 45OF5?P=>EFP
ö
ö
ö
ö
ö
ö
ö
ö
ö
ö
ö

&5<0B8G5A:85 15A54K
840:B8G5A:85, =0AB>;L=>-?5G0B=K5 83@K
-:A:C@A88 ?> 3>@>4C, 28@BC0;L=K5 M:A:C@A88
AB@5G0 A 8=B5@5A=K<8 ;N4L<8
KAB02:8 B2>@G5A:8E @01>B
"@30=870F8O <8=8-A5I5=85 65AB25==>9 30;5@58
>;;5:B82=K5 ?@>5:BK
'G0AB85 2 :>=:C@A0E
>AC38, @072;5G5=8O
$>4>A;>2=>5 4@52> A5AB8 E9@PS, 8DG:54, K9?B69> 8 EBFDG8AA=>25
A>F80;L=>3> =0?@02;5=8O 2>A?8B0=8O.
 4>H:>;L=>< 45BAB25 @515=>: >B:@K205B 8G=>ABL 4@C3>3> G5;>25:0 8 53>
7=0G5=85 2 A>1AB25==>9 687=8 8 687=8 ;N459. "= =0G8=05B >A20820BL 2A5
<=>3>>1@0785 A>F80;L=KE >B=>H5=89 8 A>F80;L=KE @>;59. "= CG8BAO 459AB2>20BL
A>>1I0, ?>4G8=OBLAO ?@028;0<, =5AB8 >B25BAB25==>ABL 70 A2>8 ?>ABC?:8,
459AB2>20BL 2 8=B5@5A0E A5@<8@>20=85 ?@028;L=>3> F5==>AB=>A2>3> >B=>H5=8O @515=:0 : A>F80;L=>:@C65=8N =52>7<>6=> 157
3@0<>B=> 2KAB@>5==>3> 2>A?8B0B5;L=>3> ?@>F5AA0, 2 :>B>@>< >1O70B5;L=> 4>;6=0
1KBL ;8G=0O A>F80;L=0O 8=8F80B820 @515=:0 2 45BA:>- 27@>A;KE 8 45BA:8E
>1I=>ABOE. 06=K< 0A?5:B>< O2;O5BAO D>@<8@>20=85 C 4>H:>;L=8:0
?@54AB02;5=8O > <8@5 ?@>D5AA89 27@>A;KE, ?>O2;5=85 : <><5=BC ?>43>B>2:8 :
H:>;5 ?>;>68B5;L=>9 CAB0=>2:8 : >1CG5=8N 2 H:>;5 :0: 206=>A;5=8O.
"A=>2=0O F5;L A>F80;L=>3> =0?@02;5=8O 2>A?8B0=8O 4>H:>;L=8:0
70:;NG05BAO 2 D>@<8@>20=88 F5==>AB=>3> >B=>H5=8O 45B59 : A525:C, @0728B88 4@C65;N18O, A>740=8O CA;>289 4;O @50;870F88 2 >1I5AB25.
484K< EBJ<4?PAB7B A4CD46?9A@<8@>20BL
4>1@>65;0B5;L=>5
>B=>H5=85
<564C
% 1 3>40 4>3 A25@AB=8:0<8, A>459AB2>20BL @0728B8N M@<8@>2085 ?>78B82=>3> >1@070 A530I5=85 7=0=89 45B59 >1@070<8 4@C61K G5@57 D>;L:;>@ 8

66

45BA:CN ;8B5@0BC@C
1. #@>4>;60BL D>@<8@>20BL C @515=:0 ?@54AB02;5=8O > 4>1@5
8 7;5, ?>78B82=>3> >1@070 A520BL
45BO< >1I5G5;>25G5A:85 F5==>AB8, 7=0:><8BL A
@0A?@545;5=85< @>;59 2 A51@070<8 4@C61K 2 D>;L:;>@5
8 45BA:>9 ;8B5@0BC@5, ?@8<5@0<8 A>B@C4=8G5AB20 8
2708<>?><>I8 ;N459 2 @07;8G=KE 2840E 45OB5;L=>AB8 (=0
<0B5@80;5 8AB>@88 $>AA88, 55 35@>52), <8;>A5@48O 8 701>BK.
=0;878@>20BL ?>ABC?:8 A0<8E 45B59 2 3@C??5 2 @07;8G=KE
A8BC0F8OE.
2. #@>4>;60BL D>@<8@>20BL =02K:8, =5>1E>48;=>F5==>3> ACI5AB2>20=8O 2 >1I5AB25: M?5@56820=8O),
:><AB8,
701>BK,
>B25BAB25==>AB8, A>B@C4=8G5AB20, C<5=8O 4>3>20@820BLAO,
C<5=8O A>1;N40BL ?@028;0.
3. $072820BL A?>A>1=>AB8 ?>AB028BL A51O =0 <5AB> 4@C3>3> :0:
?@>O2;5=85 ;8G=>AB=>9 7@5;>AB8 8 ?@5>4>;5=85 45BA:>3>
M3>87<0.
%B89D:4A<9 D45BFO
%>2<5AB=0O 45OB5;L=>ABL
ö 'B@5==89 8 25G5@=89 :@C3
ö &5<0B8G5A:85 15A54K
ö %N65B=>-@>;52K5 83@K
ö 840:B8G5A:85, =0AB>;L=>-?5G0B=K5 83@K, 83@K A ?@028;0<8
ö +B5=85 EC4>65AB25==>9 ;8B5@0BC@K
ö 5=L @>645=8O
ö #@>A<>B@ 2, ?@575=B0F89
ö %>F80;L=K5 0:F88
ö ;03>B2>@8B5;L=K5 0:F88
ö >AC38, @072;5G5=8O
ö &5<0B8G5A:85 4=8
"B 3 ;5B
4> 8 ;5B

#B;A464F9?PAB9 A4CD46?9A<9 6BECDG7»
*5==>ABL 4 ;A4A7=020B5;L=>3> =0?@02;5=8O 2>A?8B0=8O 4
D>@<8@>20=85 F5==>AB8 ?>7=0=8O.
=0G8A?8B0=8O @515=:0 O2;O5BAO D>@<8@>20=85 F5;>AB=>9 :0@B8=K
<8@0, 2 :>B>@>9 8=B53@8@>20=> F5==>AB=>5, M<>F8>=0;L=> >:@0H5==>5 >B=>H5=85 :
<8@C, ;N4O<, ?@8@>45, 45OB5;L=>AB8 G5;>25:0.
67

484K< CB;A464F9?PAB7B
A4CD46?9A7>@ =0 1075 1;8609H53>
% 1 3>40 4>3
>:@C65=8O.
;5B
2. #>1C640BL 45B59 : @07=>>1@07=K< 459AB28O< A ?@54<5B0<8,
0:B82878@>20BL ?@0:B8G5A:89 >?KB 45B59.
3. #>445@6820BL ;N1>7=0B5;L=>ABL 8 8=8F80B82C 45B59 2
?>7=0=88 <8@0.
1.
$072820BL
;N1>7=0B5;L=>ABL,
D>@<8@>20BL
>?KB
"B 3 ;5B
?>7=020B5;L=>9 8=8F80B82K.
4> 8 ;5B
2.(>@<8@>20BL F5==>AB=>5 >B=>H5=85 : 27@>A;>G=8:C 7=0=89;
3. #@>4>;60BL ?@8>1I0BL @515=:0 : :C;LBC@=K< A?>A>10<
?>7=0=8O (:=838, 8=B5@=5B-8AB>G=8:8, 48A:CAA88 8 4@.).
4. $072820BL A0<>AB>OB5;L=CN ?>7=020B5;L=CN 0:B82=>ABL.
%B89D:4A<9 D45BFO
%>2<5AB=0O 45OB5;L=>ABL
ö "?KBK, M:A?5@8<5=BK, =01;N45=8O
ö >=AB@C:B>@A:0O 8 ?@>4C:B82=0O B2>@G5A:0O 45OB5;L=>ABL
ö 840:B8G5A:85, =0AB>;L=>-?5G0B=K5 83@K, 83@K A ?@028;0<8
ö +B5=85 8 ?@>A<>B@ M=F8:;>?5489
ö #@>A<>B@ ?>7=020B5;L=KE 2845>D8;L<>2, ?@575=B0F89
ö 'G0AB85 2 :>=:C@A0E, >;8B9 < B;8BDB6ABL 4 ;8BDB6P9. *5;L 40==>3> =0?@02;5=8O 4 AD>@<8@>20BL =02K:8
74>@>2>3> >1@070 687=8, 345 157>?0A=>ABL 687=545OB5;L=>AB8 ;568B 2 >A=>25 2A53>.
(878G5A:>5 @0728B85 8 >A2>5=85 @515=:>< A2>53> B5;0 ?@>8AE>48B 2 2845 ;N1>9
42830B5;L=>9 0:B82=>AB8: 2K?>;=5=85 1KB>2KE >1O70==>AB59, 83@, @8B<8:8 8
B0=F52, B2>@G5A:>9 45OB5;L=>AB8, A?>@B0, ?@>3C;>:.
06=>9 G0ABLN 2>A?8B0=8O :C;LBC@K 74>@>2LO O2;O5BAO D>@<8@>20=85 C
4>H:>;L=8:>2 :C;LBC@=>-38385=8G5A:8E =02K:>2. >A?8B0B5;L 4>;65= D>@<8@>20BL
C 4>H:>;L=8:>2 ?>=8<0=85 B>3>, GB> G8AB>B0 ;8F0 8 B5;0, >?@OB=>ABL >4564K
>B25G0NB =5 B>;L:> 38385=5 8 74>@>2LN G5;>25:0, => 8 A>F80;L=K< >6840=8O<
>:@C60NI8E ;N459. "A>15==>ABL :C;LBC@=>68

38385=8G5A:8E =02K:>2 70:;NG05BAO 2 B><, GB> >=8 4>;6=K D>@<8@>20BLAO
=0?@>BO65=88 2A53> ?@51K20=8O @515=:0 2 "".
 D>@<8@>20=88 :C;LBC@=>-38385=8G5A:8E =02K:>2 @568< 4=O 83@05B >4=C
87 :;NG52KE @>;59. #@82K:0O 2K?>;=OBL A5@8N 38385=8G5A:8E ?@>F54C@ A
>?@545;5==>9 ?5@8>48G=>ABLN, @515=>: 22>48B 8E 2 A2>5 1KB>2>5 ?@>AB@0=AB2>, 8
?>AB5?5==> >=8 AB0=>2OBAO 4;O =53> ?@82KG:>9.
(>@<8@CO C 45B59 :C;LBC@=>-38385=8G5A:85 =02K:8, 2>A?8B0B5;L ""
4>;65= A>A@54>B>G8BL A2>5 2=8<0=85 =0 =5A:>;L:8E >A=>2=KE =0?@02;5=8OE
2>A?8B0B5;L=>9 @01>BK:
"
D>@<8@>20BL C @515=:0 =02K:8 ?>2545=8O 2> 2@5@<8@>20BL C @515=:0 ?@54AB02;5=8O > F5==>AB8 74>@>2LO, :@0A>B5
8G8AB>B5 B5;0;
"
D>@<8@>20BL C @515=:0 ?@82KG:C A;548BL 70 A2>8< 2=5H=8< 284><;
"
2:;NG0BL 8=D>@<0F8N > 38385=5 2 ?>2A54=52=CN 687=L @515=:0, 2
83@C.
$01>B0 ?> D>@<8@>20=8N C @515=:0 :C;LBC@=>-38385=8G5A:8E =02K:>2
4>;6=0 25AB8AL 2 B5A=>< :>=B0:B5 A A5B7B < B;8BDB6AB59H85 :C;LBC@=>-38385=8G5A:85 =02K:8 8
% 1 3>40 4>3 ;5B
=02K:8 A0<>>1A;C6820=8O.
2.(>@<8@>20BL ?>B@51=>ABL 2 A0<>AB>OB5;L=>9 42830B5;L=>9
0:B82=>AB8 8 >1>30I0BL 42830B5;L=K9 >?KB 45B59.
3.%>74020BL CA;>28O 4;O C:@5?;5=8O 8 70:0;820=8O >@30=87<0
45B59.
1. %>25@H5=AB2>20BL :C;LBC@=>-38385=8G5A:85 =02K:8 45B59.
"B 3 ;5B
2. #>445@6820BL 8=B5@5A : D878G5A:>9 :C;LBC@5 8 A?>@BC,
4> 8 ;5B
>B45;L=K< 4>AB865=8O< 2 >1;0AB8 A?>@B0.
3. %>459AB2>20BL AB@5<;5=8N 45B59 C;CGH0BL @57C;LB0BK
2K?>;=5=8O D878G5A:8E C?@06=5=89.
4. >A?8BK20BL F5==>AB=>5 >B=>H5=85 45B59 : 74>@>2LN 8
G5;>25G5A:>9 687=8, <>B828@>20BL : A15@565=8N A2>53>
74>@>2LO 8 74>@>2LO >:@C60NI8E.
5. 15A?5G8BL ?>AB@>5=85 >1@07>20B5;L=>3> ?@>F5AA0
D878G5A:>3> 2>A?8B0=8O 45B59 (A>2<5AB=>9 8 A0<>AB>OB5;L=>9
45OB5;L=>AB8) =0 >A=>25 74>@>2L5 D>@<8@CNI8E 8 74>@>2L5
A15@530NI8E B5E=>;>389.
%B89D:4A<9 D45BFO
69

%>2<5AB=0O 45OB5;L=>ABL
ö 'B@5==OO 38<=0AB8:0
ö 5BA:>-27@>A;K5 ?@>5:BK ?> "
ö #>4286=K5 83@K
ö %?>@B82=K5 83@K
ö !0@>4=K5 83@K
ö 8=CB:8 @5;0:A0F88
ö 8=CB:8 74>@>2LO
ö (87:C;LB<8=CB:8
ö #@>A<>B@ 2845>D8;L<>2, ?@575=B0F89
ö "74>@>28B5;L=K5 B@048F88 "'
ö #@>AK?0B5;L=0O 38<=0AB8:0
ö 'G0AB85 2 A?>@B82=KE :>=:C@A0E
&DG8B6B9 A4CD46?9A<9 6BEC<9 CB@BMA<><»
*5==>ABL 4 FDG8. % 4>H:>;L=>3> 2>7@0AB0 :064K9 @515=>: >1O70B5;L=>
4>;65= ?@8=8<0BL CG0AB85 2 B@C45, 8 B5 =5A;>6=K5 >1O70==>AB8, :>B>@K5 >=
2K?>;=O5B 2 45BA:>< A04C 8 2 A5;6=K AB0BL ?>2A54=52=K<8. &>;L:> ?@8
MB>< CA;>288 B@C4 >:07K205B =0 45B59 >?@545;5==>5 2>A?8B0B5;L=>5 2>7459AB285 8
?>43>B02;8205B 8E : >A>7=0=8N 53> =@02AB25==>9 AB>@>=K.
"A=>2=0O F5;L B@C4>2>3> 2>A?8B0=8O 4>H:>;L=8:0 70:;NG05BAO 2
D>@<8@>20=88 F5==>AB=>3> >B=>H5=8O 45B59 : B@C4C, B@C4>;N18O, 0 B0:65 2
?@8>1I5=88 @515=:0 : B@C4C.
484K< FDG8B6B7B A4CD46?9A@<8@>20BL C 45B59 =02K:8 A0<>AB>OB5;L=>3> >1A;C6820=8O
% 1 3>40 4>
A51O (2> 2@54520=8O, CAB59H8< B@C4>2K< 459AB28O<.
#>445@6820BL 65;0=85 ?><>30BL 27@>A;K<.
3.>A8BK20BL 15@56=>5 >B=>H5=85 : @57C;LB0B0< B@C40.
4. $0AH8@OBL :@C3 =01;N45=89 70 B@C4>< 27@>A;KE.
1. >A?8BK20BL ?>B@51=>ABL B@C48BLAO, 65;0=85 CG0AB2>20BL 2
"B 3 ;5B
A>2<5AB=>9 B@C4>2>9 45OB5;L=>AB8, @04>20BLAO :>;;5:B82=K<
4> 8 ;5B
@57C;LB0B0< B@C40.
2. 0:@5?;OBL C 45B59 C<5=8O 8 =02K:8 A0<>AB>OB5;L=>3>
>1A;C6820=8O A51O.
3. >A?8BK20BL ?@82KG:C A;548BL 70 G8AB>B>9 >4564K,
70<5G0BL 8 CAB@0=OBL =5?>@O4>: 2> 2=5H=5< 2845.
4.$0AH8@OBL ?@54AB02;5=8O 45B59 > 2840E B@C40 27@>A;KE.
70

%>45D64=<5 D45>FO
%>2<5AB=0O 45OB5;L=>ABL
&@C4>2K5 ?>@CG5=8O
56C@AB2>
)>7O9AB25==>-1KB>2>9 B@C4
#@>A<>B@ 2845>D8;L<>2, ?@575=B0F89
%0<>>1A;C6820=85
8@BC0;L=K5 M:A:C@A88
&5<0B8G5A:85 15A54K
;3>@8B<870F8O B@C4>2KE ?@>F5AA>2
AB@5G0 A 8=B5@5A=K<8 ;N4L<8
1F<>B-QEF9FB9 A4CD46?9A<9 6BECD4EAO= @DG7 @9AS»
*5==>AB8 4 :C;LBC@0 8 :@0A>B0. C;LBC@0 ?>2545=8O 2 A2>59 >A=>25 8<55B
3;C1>:> A>F80;L=>5 =@02AB25==>5 GC2AB2> 4 C2065=85 : G5;>25:C, : 70:>=0<
G5;>25G5A:>3> >1I5AB20. C;LBC@0 >B=>H5=89 O2;O5BAO 45;>< =5 AB>;L:> ;8G=K<,
A:>;L:> >1I5AB25==K<. >=:@5B=K5 ?@54AB02;5=8O > :C;LBC@5 ?>2545=8O
CA20820NBAO @515=:>< 2<5AB5 A >?KB>< ?>2545=8O, A =0:>?;5=85< =@02AB25==KE
?@54AB02;5=89.
*5;L MAB5B8G5A:>3> 2>A?8B0=8O 4 AB0=>2;5=85 C @515=:0 F5==>AB=>3>
>B=>H5=8O : :@0A>B5. -AB5B8G5A:>5 2>A?8B0=85 G5@57 >1>30I5=85 GC2AB25==>3> >?KB0
8 @0728B85 M<>F8>=0;L=>9 AD5@K ;8G=>AB8 2;8O5B =0 AB0=>2;5=85 =@02AB25==>9 8
4CE>2=>9 A>AB02;ONI59 2=CB@5==53> <8@0 @515=:0.
484K< QF<>B-QEF9FB7B A4CD46?9A1C640BL M<>F8>=0;L=CN >B7K2G82>ABL : MAB5B8G5A:>9
% 1 3>40 4>3 ;5B
AB>@>=5 >:@C60NI59 459AB28B5;L=>AB8, >1@0I0BL 2=8<0=85
45B59 =0 :@0A>BC ?@8@>4K, 682>?8A8, ?@54<5B>2 ?@8:;04=>3>
8A:CAAB20, :=86=KE 8;;NAB@0F89.
2. "1>30I0BL >?KB A;CE>2>3> 2>A?@8OB8O 2, 72C:>2 ?@8@>4K, 3>;>A>2 ?B8F 8
682>B=KE.

71

"B 3 ;5B
4> 8 ;5B

1. (>@<8@>20=85

:C;LBC@K >1I5=8O, ?>2545=8O, MB8G5A:8E

?@54AB02;5=89.
2. >A?8B0=85 ?@54AB02;5=89 > 7=0G5=88 >?@OB=>AB8 8 :@0A>BK
2=5H=59, 55 2;8O=88 =0 2=CB@5==89 <8@ G5;>25:0.
3. $0728B85 ?@54?>AK;>: F5==>AB=>-A2>3> 2>A?@8OB8O 8
?>=8<0=8O ?@>872545=89 8A:CAAB20, O2;5=89 687=8,
>B=>H5=89 <564C ;N4L<8.
4. >A?8B0=85 ;N128 : ?@5:@0A=>4=>9 AB@0=K 8 4@C38E =0@>4>2.
5. $0728B85 B2>@G5A:>3> >B=>H5=8O : <8@C, ?@8@>45, 1KBC 8 :
>:@C60NI59 @515=:0 459AB28B5;L=>AB8;
6. (>@<8@>20=85 C 45B59 MAB5B8G5A:>3> 2:CA0, AB@5<;5=8O
>:@C60BL A51O ?@5:@0A=K<, A>74020BL 53>.
%B89D:4A<9 D45BFO
%>2<5AB=0O 45OB5;L=>ABL
ö "@30=870F8O 2KAB02>:
ö >=F5@BK
ö 5BA:>-@>48B5;LA:85 ?@>5:BK
ö %;CH0=85 872545=89
ö #>A5I5=85 B50B@0, <>2 A @5?@>4C:F8O<8 :0@B8=
ö @C6:>20O 45OB5;L=>ABL

72

1>B?B7B9 A4CD46?9A<9 6BECB?B7B7B A4CD46?9AA?8BK20BL M<>F8>=0;L=K9 >B:;8: =0 :@0A>BC ?@8@>4K
% 1 3>40 4> 2. >A?8BK20BL 15@56=>5 >B=>H5=85 : @0AB5=8O< 8 682>B=K<.
3 ;5B
3.
1. >A?8BK20BL ;N1>2L : @>4=>9 ?@8@>45, ?@8@>45 A2>53>
"B 3 ;5B 4> 8 :@0O,$>AA88, ?>=8<0=8O 548=AB20 ?@8@>4K 8 ;N459 8
;5B
15@56=>3>>B25BAB25==>3> >B=>H5=8O : ?@8@>45.
2. >A?8BK20BL 8=B5@5A, C2065=85 : ;N4O< ?@8@>4>>E@0==KE
?@>D5AA89.
3. >A?8BK20BL M<>F8>=0;L=K9 >B:;8: =0 :@0A>BC ?@8@>4K.
4. >A?8B0=85 GC2AB20 >B25BAB25==>AB8 70 A>AB>O=85
?@8@>4=KE @5AC@A>2, C<5=89 8 =02K:>2 @07C<=>3>
?@8@>4>?>;L7>20=8O.
%B89D:4A<9 D45BFO
%>2<5AB=0O 45OB5;L=>ABL
ö !01;N45=8O
ö -:A:C@A88
ö +B5=85 ?>7=020B5;L=>9 ;8B5@0BC@K
ö =8 M:>;>38G5A:>9 >?0A=>AB8
ö %1>@ <0:C;0BC@K
ö 'G0AB85 2 0:F8OE «$0745;O9:0», « K 70 G8AB>B0 2 =0H5< 3>@>45»
ö KAB02:8 ?;0:0B>2, B2>@G5A:8E @01>B
ö #@>5:B=0O 45OB5;L=>ABL
ö #@074=8:8, @072;5G5=8O
ö 'G0AB85 2 :>=:C@A0E
"EB59AABEF< 6BEC;48=3, A>AB>OI89 87 42CE :>@?CA>2,
:>B>@K5 =0E>4OBAO >B=>A8B5;L=> =540;5:> 4@C3 >B 4@C30.
 "' DC=:F8>=8@C5B 25 3@C?? >1I5@072820NI59 =0?@02;5==>AB8.  3@C??0E
>1I5@072820NI59 =0?@02;5==>AB8 >1CG5=85 8 2>A?8B0=85 >ACI5AB2;O5BAO ?>
>1@07>20B5;L=>9 ?@>3@0<<5 4>H:>;L=>3> >1@07>20=8O, @07@01>B0==>9 2 A>>B25BAB288
A ("# " 8 ("% ".

73

>A?8B0B5;L=>->1@07>20B5;L=K9 ?@>F5AA 2KAB@>5= A CG5B><:
1) #@>3@0<20F8>==KE ?@>5:B>2 B5E=8G5A:>3>, M:>;>38G5A:>3>,
?@>D>@8=B0F8>==>3>, :@05254G5A:>3> =0?@02;5=89.
 ?5403>38G5A:89 ?@>F5AA 2=54@5=K ?@>3@0<;>388 ?> ;53>:>=AB@C8@>20=8N. "' 5BA:89 A04 7 1 «C@02CH:0», B0 :0: "' 8<55B AB0BCA
<563> @5AC@A=>3> F5=B@0 ?> @>1>B>B5E=8:5 «53> :045<8O».

2>A?8B0B5;L=>->1@07>20B5;L=K9
?@>F5AA
2=54@O5BAO
?0@F80;L=0O
>1@07>20B5;L=0O ?@>3@0<<0 4>H:>;L=>3> >1@07>20=8O «"B (@515;O 4> @>1>B0»
$50;87CNBAO ?5403>38G5A:85 ?@>5:BK:
÷ #@>5:B « +09:>2A:89 - 3>@>4 5:B «+09:>2A:89 33>@>4 A?>@B82=K9»
÷ #@>5:B « >9 #5@5:B ?> ?@8>1I5=8N 45B59 : D>;L:;>@=K< ?@074=8:0< «$>A8=:0»
÷ #@>5:B «0 3>4 4> H:>;K»
÷ #@>5:B «.=K5 M:>;OB0 -4>H:>;OB0»
 2>A?8B0B5;L=K9 ?@>F5AA 30@<>=8G=> 2?8A0=> 8<5NI55AO A>F8>:C;LBC@=>5
>:@C65=85: A>25B <8:@>@09>=0 «02>:70;L=K9»,
"' %", 7 7,
'
"+09:>2A:89 B50B@ 4@0<5488»,
' " %.&-,
' «+09:>2A:0O
F5=B@0;L=0O 181;8>B5:0» -D8;80; 7 9, «+09:>2A:89 8AB>@8:>-EC4>65AB25==K9
;0. @><5 MB>3> 2 <8:@>@09>=5 =0E>48BAO '
%?>@B82=K9 :>9 A;02K A «8<5==K<8» 45@52LO<8.
8:@>@09>= @0A?;>65= 21;878 A ;5A>?0@:>2>9 7>=>9, GB> 405B 2>7<>6=>ABL
?@>2>48BL ?5H85 M:A:C@A88, ?>E>4K.
'G@5645=85 >:07K205B 4>?>;=8B5;L=K5 >1@07>20B5;L=K5 CA;C38 4;O
45B59 <;04H53>, A@54=53> 8 AB0@H53> >H:>;L=>3> 2>7@0AB0. K1>@
=0?@02;5=89
8 ?@>3@0<< >?@545;5=
?> @57C;LB0B0< 2KO2;5=8O
>1@07>20B5;L=>3> 70:070
@>48B5;59.
>?>;=8B5;L=>5
>1@07>20=85
>@30=87>20=> 2> 2B>@>9 ?>;>28=5 4=O 2 D>@<5 :@C6:0. 0=OB8O :@C6:>2 ?@>2>48BAO 2
@0<:0E CB25@645==>3> @0A?8A0=8O.

74

!0?@02;5=85
#>7=020B5;L=>5

!0720=85
«,5ABL :C18:>2»
« 5=B0;L=0O 0@8D<5B8:0»
«,0E<0BK 2 45BA:>< A04C»
«.=K9 D8=0=A8AB»
« 0;5=L:85 35=88»
«53>7=09:8»
«53>- :045<8O»
«0 3>4 4> H:>;K»

#>7=020B5;L=>5,
A>F80;L=>5
(878G5A:>5
8 «%>7257485»
>74>@>28B5;L=>5 «(CB1>;»
«+5@;845@K»
«5A5;K9 >@:5AB@»
-B8:>MAB5B8G5A:>5
« C;LBABC48O $04C30»
«>;>1>:» (B5AB>?;0AB8:0)
«!5?>A54K»
#0B@8>B8G5A:>5 «0;8=:0»

>7@0AB=0O
:0B53>@8O
3-7 ;5B
#> A>3;0A>20=8N

4-7 ;5B
5-6 ;5B
3-4 3>40
5-6 ;5B
6-7 ;5B
6-7 ;5B
5-7 ;5B
4-7 ;5B
3-7 ;5B
5-7 ;5B
4-5 ;5B
5-6 ;5B
3-5 ;5B
5-7 ;5B

"EB59AABEF< 6;4<@B89=EF6B7B >B??9>F<64 E
E9@PS@< 6BECB6 6 CDBJ9EE9 D94?<;4J<< #DB7D4@@O 6BEC1E>48<>ABL 2708<>459AB28O ?5403>3>2 A @>48B5;O<8 B@048F8>==>
?@87=0UBAO 206=59H8< CA;>285< MDD5:B82=>AB8 2>A?8B0=8O 45B59. >;55 B>3>, 2
A>>B25BAB288 A ("# ", ("% ", A>B@C4=8G5AB2> A @>48B5;O<8 O2;O5BAO >4=8<
87 >A=>2=KE ?@8=F8?>2 4>H:>;L=>3> >1@07>20=8O. !5;L7O 701K20BL, GB>
;8G=>AB=K5 :0G5AB20 (?0B@8>B87<, 4>1@>65;0B5;L=>ABL, A>AB@040=85, GCB:>ABL,
>B7K2G82>ABL) 2>A?8BK20NBAO 2 A5MB>48B5;59 2 @01>B5 "', 2
A>2<5AB=KE A 45BL<8 <5@>?@8OB8OE, 8E ;8G=K9 ?@8<5@ 3 2A5 MB> 2<5AB5 405B
?>;>68B5;L=K5 @57C;LB0BK 2 2>A?8B0=88 45B59, ?@8>1I5=88 : A>F8>:C;LBC@=K<
=>@<0<.
#>MB>5 2:;NG5=85 @>48B5;59 2 548=K9 A>2<5AB=K9 2>A?8B0B5;L=K9
?@>F5AA ?>72>;O5B @50;87>20BL 2A5 ?>AB02;5==K5 7040G8 8 7=0G8B5;L=> ?>2KA8BL
C@>25=L ?0@B=5@A:8E >B=>H5=89.

75

*9?P 6;4<@B89=EF61J548=5=85 CA8;89 ?5403>3>2 "' 8 A5
A>740=8N CA;>289 4;O @0728B8O ;8G=>AB8 @515=:0 =0 >A=>25 A>F8>:C;LBC@=KE,
4CE>2=> 3 =@02AB25==KE F5==>AB59 8 ?@028;, ?@8=OBKE 2 @>AA89A:><>1I5AB25.
484K<:
1. #>2KA8BL
:>ABL @>48B5;59 2
2>?@>A0E @0728B8O
;8G=>AB=KE :0G5AB2 45B59 4>H:>;L=>3> 2>7@0AB0.
2. ":070BL ?A8E>;>3> 3 ?5403>38G5A:CN ?>445@6:C @>48B5;O< 2
2>A?8B0=88 @515=:0.
3. "1J548=8BL CA8;8O
?5403>3>2 8
A5 2>A?8B0=8N
4>H:>;L=8:>2 ?>A@54AB2>< A>2<5AB=KE <5@>?@8OB89.
"A=>2=K5 D>@45@60=85 @01>BK A @>48B5;O<8:
1. A>9F@<0 8A?>;L7C5BAO A F5;LN 87CG5=8O A51@07>20B5;L=KE ?>B@51=>AB59 8 70?@>A>2 @>48B5;59. %?>A>1AB2C5B
CAB0=>2;5=8N :>=B0:B>2, 0 B0:65 4;O A>3;0A>20=8O 2>A?8B0B5;L=KE 2>7459AB289 =0
@515=:0.
2. BAEG?PF4J<<. -B> A0<0O @0A?@>AB@0=5==0O D>@<0 ?A8E>;>3> 3
?5403>38G5A:>9 ?>445@6:8 8 ?@>A25I5=8O @>48B5;59. #@>2>4OBAO 8=48284C0;L=K5
8 3@C??>2K5 :>=AC;LB0F88 ?> @07;8G=K< 2>?@>A0< 2>A?8B0=8O @515=:0. :B82=>
?@8<5=ONBAO :>=AC;LB0F88, ?@575=B0F88 A 8A?>;L7>20=85<  3 B5E=>;>389.
3.
4EF9D->?4EEO. :B82=0O D>@<0 A>B@C4=8G5AB20, ?>A@54AB2>< :>B>@>9
?5403>3 7=0:><8B A ?@0:B8G5A:8<8 459AB28O<8 @5H5=8O B>9 8;8 8=>9 7040G8. 
@57C;LB0B5 C @>48B5;59 D>@<8@CNBAO ?5403>38G5A:85 C<5=8O ?> @07;8G=K<
2>?@>A0< 2>A?8B0=8O 45B59.
4. #9847B7<= FD9AA=>25 B@5=8=30 3 ?@>1;5<=K5 A8BC0F88,
?@0:B8G5A:85 7040=8O 8 @072820NI85 C?@06=5=8O, :>B>@K5
«?>3@C60NB» @>48B5;59 2 :>=:@5B=CN A8BC0F8N, A<>45;8@>20==CN 2
2>A?8B0B5;L=KE F5;OE. %?>A>1AB2CNB @5D;5:A88 8 A0<>>F5=:5 @>48B5;59 ?> ?>2>4C
?@>254U==>9 45OB5;L=>AB8.
5. DG7?O=
EFB?. #5403>38 ?@82;5:0NB @>48B5;59 2 >1AC645=85
?@54JO2;5==>9 B51<5=820NBAO <=5=85< 4@C3 A 4@C3><,
?@54;030NB A2>U @5H5=85 2>?@>A0.
6. «$B84S CBKF4».  "' >@30=87>20=0 48AB0=F8>==0O D>@<0
A>B@C4=8G5AB20 A @>48B5;O<8. 708<>459AB285 ?@>8AE>48B 2 A>F80;L=KE A5BOE
2> «>=B0:B5», G5@57 <5AA5=465@K. &0:0O D>@<0 >1I5=8O ?>72>;O5B
@>48B5;O< CB>G=8BL @07;8G=K5 2>?@>AK, ?>?>;=8BL ?5403>38G5A:85 7=0=8O,
>1AC48BL ?@>1;5<, H9EF<64?<, >BA>GDEO, EBD96AB64A
?@>2>4OBAO A>2<5AB=K5 A @>48B5;O<8 <5@>?@8OB8O, :>B>@K5 2:;NG0NB 2
>1I55 8=B5@5A=>5 45;> 2A5E CG0AB=8:>2 >1@07>20B5;L=KE >B=>H5=89. &5<
A0?B8<878@CNBAO >B=>H5=8O @>48B5;59 8 45B59, @>48B5;59 8 ?5403>3>2,
?5403>3>2 8 45B59.
8.
« %&$E>4S».  @0<:0E 40==>9 D>@B@C4=8G5AB20 @>48B5;8 8
?5403>38 (G0AB> ?@8 CG0AB88 45B59) A>2<5AB=> 873>B02;820NB 0B@81CBK 8
?>A>18O 4;O 83@, @072;5G5=89 8 4@C38E <5@>?@8OB89.
9.
$B8<9 EB5D4AA@54AB2>< A>1@0=89 :>>@48=8@CNBAO
459AB28O @>48B5;LA:>9 >1I5AB25==>AB8 8 ?5403>38G5A:>3> :>;;5:B820 ?>
2>?@>A0< >1CG5=8O, 2>A?8B0=8O, >74>@>2;5=8O 8 @0728B8O 45B59.
10. $B8<9 >BAH9D9AJ<<. !0 40==>< <5@>?@8OB88 @>48B5;8 45;OBAO
A2>8< >?KB>< 2>A?8B0=8O 8 >1CG5=8O 45B59. &0:65 =0 :>=D5@5=F88
2KABC?0NB ?5403>38, 345 A ?@>D5AA8>=0;L=>9 B>G:8 7@5=8O @0A:@K20NB B5=D5@5=F88.
11. !47?S8A4S D8F80;L=>< A09B5 "'
5BA:89 A04 7 1 «C@02CH:0», 2 3@C??5 45BA:>3> A040, 2 A>F80;L=>9 A5B8 
>=B0:B5 8 =0 8=D>@<0F8>==KE AB5=40E 4;O @>48B5;59 (70:>==KE
?@54AB028B5;59) E>@>H> 70@5:><5=4>20;0 A51O :0: D>@<0 ?5403>38G5A:>3>
?@>A25I5=8O @>48B5;59 (70:>==KE ?@54AB028B5;59) 45B59. 45AL ?><5I0NBAO
:@0B:85 B5:ABK =0 ?5403>38G5A:85 B5=AC;LB0F88, >B25BK =0 2>?@>AK
@>48B5;59, D>B>3@0D88, >B@060NI85 687=L 45B59 2 45BA:>< A04C 8 2 A5BK, A?8A:8 @5:><5=4C5<>9 45BA:>9 8 ?5403>38G5A:>9
;8B5@0BC@K, =>@<0B82=> ?@02>2K5 4>:C<5=BK $>AA89A:>3> 70:>=>40B5;LAB20,
?@02>CAB0=02;820NI85 4>:C<5=BK 8 @0A?>@O48B5;L=K5 0:BK.
12. A< BF>DOFOI 869D9=. #@>2545=85 =59 >B:@KBKE 425@59 405B
2>7<>6=>ABL @>48B5;O< «?@>68BL» 45=L 2 45BA:>< A04C, >ICB8BL 0B<>AD5@C
45BA:>9 687=8, A2>8<8 3;070<8 C2845BL @01>BC ?5403>3>2, 8E >1I5=85 A
2>A?8B0==8:0<8.
13. $B8<9 EB5D4AA@54AB2>< A>1@0=89 :>>@48=8@CNBAO
459AB28O @>48B5;LA:>9 >1I5AB25==>AB8 8 ?5403>38G5A:>3> :>;;5:B820 ?>
2>?@>A0< >1CG5=8O, 2>A?8B0=8O, >74>@>2;5=8O 8 @0728B8O 45B59.
14. %B69F DB8AB>O==K9 :>;;5380;L=K9 >@30= >1I5AB25==>3>
C?@02;5=8O "', ?>72>;O5B @>48B5;O< 2KA:07K20BL A2>5 <=5=85 ?> 2>?@>A0<
C?@02;5=8O 45BA:8< A04><.
(%B89D:4A<9 <; ("# ")
>A?8B0=85 2 >1@07>20B5;L=>9 45OB5;L=>AB8 >ACI5AB2;O5BAO 2 B5G5=85 2A53>
2@5<5=8 ?@51K20=8O @51U=:0 2 "" 8 ?@>E>48B G5@57 @07=>>1@07=K5 D>@459AB28O:
7.

77

÷ A8BC0B82=0O 15A540, @0AA:07, A>25BK, 2>?@>AK;
÷ A>F80;L=>5 <>45;8@>20=85, 2>A?8BK20NI0O (?@>1;5<=0O) A8BC0F8O,
A>AB02;5=85 @0AA:07>2 87 ;8G=>3> >?KB0;
÷ GB5=85 EC4>65AB25==>9 ;8B5@0BC@K A ?>A;54CNI8< >1AC645=85< 8
2K2>40<8, A>G8=5=85 @0AA:07>2, 8AB>@89, A:07>:, 70CG820=85 8 GB5=85
AB8E>2 =087CABL;
÷ @07CG820=85 8 8A?>;=5=85 ?5A5=, B50B@0;870F8O, 4@0<0B870F8O, MBN4K8=AF5=8@>2:8;
÷ @0AA<0B@820=85 8 >1AC645=85 :0@B8= 8 :=86=KE 8;;NAB@0F89, ?@>A<>B@
2845>@>;8:>2, ?@575=B0F89, 2;
÷ >@30=870F8O 2KAB02>: (:=83, @5?@>4C:F89 :0@B8=, B5<0B8G5A:8E 8;8
02B>@A:8E, 45BA:8E ?>45;>: 8 B>4>1=>5),
÷ M:A:C@A88 (2 1I5>1@07>20B5;L=CN >@30=870F8N 8 B>4>1=>5), ?>A5I5=85 A?5:B0:;59, 2KAB02>:;
÷ 83@>2K5 <5B>4K (83@>20O @>;L, 83@>20O A8BC0F8O, 83@>2>5 459AB285 8
4@C385); 45<>=AB@0F8O A>1AB25==>9 =@02AB25==>9 ?>78F88 ?5403>3><,
;8G=K9 ?@8<5@ ?5403>30, ?@8CG5=85 : 256;82>5I5=8N, ?>>I@5=85
(>41@5=85, B0:B8;L=K9 :>=B0:B, ?>E20;0, ?>>I@ONI89 273;O4).
"D74A<;4JA?8B0B5;L=>3> ?>B5=F80;0 ?@54<5B=>-?@>AB@0=AB25==>9 A@54K
<>65B ?@54CA<0B@820BL A>2<5AB=CN 45OB5;L=>ABL ?5403>3>2, >1CG0NI8EAO, 4@C38E
CG0AB=8:>2 >1@07>20B5;L=KE >B=>H5=89 ?> 5U A>740=8N, ?>445@60=8N,
8A?>;L7>20=8N 2 2>A?8B0B5;L=>< ?@>F5AA5 (C:07K20NBAO :>=:@5B=K5 ?>78F88,
8<5NI85AO 2 "" 8;8 70?;0=8@>20==K5):
÷ 7=0:8 8 A8<2>;K 3>AC40@AB20, @538>=0, =0A5;5==>3> ?C=:B0 8 "";
:>=5=BK A@54K, >B@060NI85 @538>=0;L=K5, MB=>3@0D8G5A:85 8 4@C385
>A>15==>AB8 A>F8>:C;LBC@=KE CA;>289, 2 :>B>@KE =0E>48BAO "";
÷ :>=5=BK A@54K, >B@060NI85 M:>;>38G=>ABL, ?@8@>4>A>>1@07=>ABL 8
157>?0A=>ABL;
÷ :>=5=BK A@54K, >15A?5G820NI85 45BO< 2>7<>6=>ABL >1I5=8O, 83@K 8
A>2<5AB=>9 45OB5;L=>AB8;
÷ :>=5=BK A@54K, >B@060NI85 F5==>ABL A5:>;5=89, @04>ABL >1I5=8O A A5=5=BK
A@54K,
>15A?5G820NI85
@51U=:C
2>7<>6=>ABL
?>7=020B5;L=>3> @0728B8O, M:A?5@8<5=B8@>20=8O, >A2>5=8O =>2KE
B5E=>;>389, @0A:@K20NI85 :@0A>BC 7=0=89, =5>1E>48<>ABL =0CG=>3>
?>7=0=8O, D>@<8@CNI85 =0CG=CN :0@B8=C <8@0;
78

÷ :>=5=BK A@54K, >15A?5G820NI85 @51U=:C 2>7<>6=>ABL ?>A8;L=>3>
B@C40, 0 B0:65 >B@060NI85 F5==>AB8 B@C40 2 687=8 G5;>25:0 8
3>AC40@AB20;
÷ :>=5=BK A@54K, >15A?5G820NI85 @51U=:C 2>7<>6=>AB8 4;O
C:@5?;5=8O 74>@>2LO, @0A:@K20NI85 A@>2>3> >1@070 687=8,
D878G5A:>9 :C;LBC@K 8 A?>@B0;
÷ :>=5=BK A@54K, ?@54>AB02;ONI85 @51U=:C 2>7<>6=>ABL ?>3@C65=8O 2
:C;LBC@C
$>AA88,
7=0:>A>15==>ABO<8
B@048F89
<=>3>=0F8>=0;L=>3> @>AA89A:>3> =0@>40.
*5;L: A>740=85 CA;>289 4;O @50;870F88 2>A?8B0B5;L=>3> ?>B5=F80;0 $##% "'.
040G8:
1. #>A@54AB2><
$##%
>15A?5G8BL 2>7<>6=>ABL
70=8<0BLAO 45BO<
@07=K<8 2840<8 45OB5;L=>AB8.
2. %?>A>1AB2>20BL >1I5=8N 8 A>2<5AB=>9 45OB5;L=>AB8 45B59 8 27@>A;KE.
3. #@8>1I0BL 2>A?8B0==8:>2 :
1;03>CAB@>9AB2C 8 45:>@0B82=>D>@<;5=8N 8=B5@L5@0 4>H:>;L=>3> CG@5645=8O 2 A>2<5AB=>9
45OB5;L=>AB8:
83@>20O,
?>7=020B5;L=0O,
:><4C:B82=0O, B@C4>20O,
EC4>65AB25==> 3 MAB5B8G5A:0O.
"EAB6AO9 HBD@O < EB89D:4A<9 89SF9?PABEF<.
1. %B6@9EFAB9 BHBD@?9A<9 2<5AB=> A ?5403>30<8
>D>@<;ONB *5=B@K/C3>;:8 0:B82=>AB8 2 3@C??5. !0?@8<5@, 873>B02;820NB «:=86:8 <0;KH:8» 2 «'3>;>: :=838», ;5?OB ?>AC4C 4;O :C:>; 2 «C:>;L=K9 C3>;>:», 45;0NB
AB0:0=G8:8 4;O :0@0=40H59 8 :8AB>G5: 2 «*5=B@ @8A>20=8O» 8 B.4. >A?8B0B5;L=0O
F5==>ABL 70:;NG05BAO 2 B><, GB> 45B8 A=0G0;0 873>B02;820NB :0:85 - B> ?@54<5BK 8
70B5< ?@8<5=ONB 8E 2 ?@>F5AA5 @07;8G=KE 284>2 45OB5;L=>AB8. &0:8< >1@07><,
4>H:>;L=8:8 >A>7=0NB ?>;57=>ABL A2>53> B@C40.
2. %B6@9EFAB9 BHBD@?9A<9 CB@9M9A<= "'.  @5:@50F8OE, :>@84>@0E,
;5AB=8G=KE ?@>;5B0E, 25AB81N;5 45BA:>3> A040 B@048F8>==> >D>@<;ONBAO
D>B>2KAB02:8, D>B>>BG5BK, M:A?>78F88 @8AC=:>2 8 ?>45;>: 45B59. -B> ?>72>;O5B
2>A?8B0==8:0< @50;87>20BL A2>9 B2>@G5A:89 ?>B5=F80;, 0 B0:65 ?>7=0:><8BLAO A
@01>B0<8 8 8=B5@5A=K<8 45;0<8 4@C38E 45B59.
3. %B5OF<=AO= 8<;4=A. 0==0O D>@<0 2708<>459AB28O ?>4@07C<5205B
>D>@<;5=85 $##% "' : 7=0G81KB8O< 8 ?@074=8:0<. -B> <>3CB 1KBL: 5=L
>B:@KBKE 425@59, !>2K9 3>4, 5=L #>154K, 5=L B50B@0 8 4@C385 :>=:@5B=K5
A>1KB89=K5 <5@>?@8OB8O. 5B8 A>2<5AB=> A> 27@>A;K<8 873>B02;820NB 0B@81CBK,
?>40@:8, AC25=8@K, @8ACNB >B:@KB:8, D;06:8, F25B>G:8 8 ?@.
4. ?47BGEFDB=EF6B F9DD38 ?@8>1I0NB 4>H:>;L=8:>2 :
?>A8;L=>9 ?><>I8 2 1;03>CAB@>9AB25 CG0AB:>2, B5< A01>30I0NB EC4>65AB25==>
- MAB5B8G5A:89 >?KB @515=:0 8 >15A?5G820NB 30@<>=8G=>5 2708<>459AB285 @515=:0 A
>:@C60NI8< <8@><.
79

%B5OF1KB85 3 MB> D>@<0 A>2<5AB=>9 45OB5;L=>AB8 @515=:0 8 27@>A;>3>, 2
:>B>@>9 0:B82=>ABL 27@>A;>3> ?@82>48B : ?@8>1@5B5=8N @515=:>< A>1AB25==>3>
>?KB0 ?5@56820=8O B>9 8;8 8=>9 F5==>AB8. ;O B>3> GB>1K AB0BL 7=0G8<>9, :0640O
F5==>ABL 2>A?8B0=8O 4>;6=0 1KBL ?>=OB0, @0A:@KB0 8 ?@8=OB0 @515=:><
A>2<5AB=> A 4@C38<8 ;N4L<8 2 7=0G8<>9 4;O =53> >1I=>AB8. -B>B ?@>F5AA
?@>8AE>48B AB8E89=>, => 4;O B>3>, GB>1K 25AB8 2>A?8B0B5;L=CN @01>BC, >= 4>;65=
1KBL =0?@02;5= 27@>A;K<. >A?8B0B5;L=>5 A>1KB85
3
MB> A?@>5:B8@>20==0O
27@>A;K< >1@07>20B5;L=0O A8BC0F8O.  :064>< 2>A?8B0B5;L=>< A>1KB88 ?5403>3
?@>4C7<>6=KE 459AB28945B59 8 A8E 459AB289
2 :>=B5:AB5 7040G 2>A?8B0=8O. %>1KB85< <>65B 1KBL =5 B>;L:>
>@30=87>20==>5
<5@>?@8OB85, => 8 A?>=B0==> 2>7=8:H0O A8BC0F8O, 8 ;N1>9 @568<=K9 <><5=B,
B@048F88 CB@5==59 2AB@5G8 45B59, 8=48284C0;L=0O 15A540, >1I85 45;0, A>2<5AB=>
@50;87C55:BK 8 ?@. #;0=8@C543>B>2;5==K5 ?5403>3><
2>A?8B0B5;L=K5 A>1KB8O ?@>5:B8@CNBAO 2 A>>B25BAB288 A :0;5=40@=K< ?;0=><
2>A?8B0B5;L=>9 @01>BK "", 3@C??K, A8BC0F859 @0728B8O :>=:@5B=>3> @515=:0.
(>@5:B8@>20=8O A>1KB89 2 "":
÷ @07@01>B:0 8 @50;870F8O 7=0G81KB89 2 254CI8E 2840E
45OB5;L=>AB8
(45BA:>-27@>A;K9
A?5:B0:;L,
?>AB@>5=85
M:A?5@8<5=B0, A>2<5AB=>5 :>=AB@C8@>20=85, A?>@B82=K5 83@K 8
4@.);
÷ ?@>5:B8@>20=85 2AB@5G, >1I5=8O 45B59 A> AB0@H8<8, <;04H8<8,
@>25A=8:0<8, A 27@>A;K<8, A =>A8B5;O<8 2>A?8B0B5;L=>
7=0G8, ;8B5@0BC@0,
?@8:;04=>5 B2>@G5AB2> 8 B. 4.), ?@>D5AA89, :C;LBC@=KE B@048F89
=0@>4>2 $>AA88;
÷ A>740=85 B2>@G5A:8E 45BA:>-27@>A;KE ?@>5:B>2 (?@074=>20=85
=O #>154K A ?@83;0H5=85< 25B5@0=>2, «&50B@ 2 45BA:>< A04C» 3
?>:07 A?5:B0:;O 4;O 45B59 87 A>A54=53> 45BA:>3> A040 8 B. 4.).
#@>5:B8@>20=85 A>1KB89 ?>72>;O5B ?>AB@>8BL F5;>AB=K9 3>4>2>9 F8:;
<5B>48G5A:>9 @01>BK =0 >A=>25 B@048F8>==KE F5==>AB59 @>AA89A:>3> >1I5AB20.
-B> ?><>305B :064>3C A>740BL B5<0B8G5A:89 B2>@G5A:89 ?@>5:B 2 A2>59
3@C??5 8 A?@>5:B8@>20BL @01>BC A 3@C??>9 2 F5;><, A ?>43@C??0<8 45B59, A
:064K< @515=:><.
"4=8< 87 ?@8>@8B5B=KE =0?@02;5=89 45OB5;L=>AB8 "' O2;O5BAO
D>@<8@>20=85 ?>7=020B5;L=>9 0:B82=>AB8 A ?><>ILN 8==>20F8>==>9
B5E=>;>388 @>1>B>B5E=8:8. ;O @50;870F88 40==>3> =0?@02;5=8O 2
2>A?8B0B5;L=>->1@07>20B5;L=>< ?@>F5AA5 ?5403>30<8 8A?>;L7CNBAO:
1) <5B>48G5A:>5 ?>A>185 .. (5H8=>9 «53>-:>=AB@C8@>20=85 2

80

45BA:>< A04C», F5;L #@>3@0<@<8@>20=85 ?>7=020B5;L=>9 8
8AA;54>20B5;LA:>9
0:B82=>AB8,
AB@5<;5=8O
C9
45OB5;L=>AB8,
D>@<8@>20=85 :>=AB@C:B>@A:8E A?>A>1=>AB59
2) ?0@F80;L=0O >1@07>20B5;L=0O ?@>3@0<<0 >;>A>25F &.., 0@?>2>9
..., &8<>D552>9 &.. «"B (@515;O 4> @>1>B0: @0AB8< 1C4CI8E
8=65=5@>2» - >A=>2=>9 F5;LN #@>3@0<B:0
A8AB5@<8@>20=8O C 45B59 ?@54?>AK;>: 3>B>2=>AB8 : 87CG5=8N
B5E=8G5A:8E =0C: A@54AB20<8 83@>2>3> >1>@C4>20=8O 2 A>>B25BAB288
A ("% 4>H:>;L=>3> >1@07>20=8O.
#5403>30<8 @07@01>B0=K 8 @50;87CNBAO ?@>3@0<?>;=8B5;L=>3>
>1@07>20=8O: «53>-7=09:8», «"B 0?@>10F88 4> A>@52=>20=89», «,5ABL :C18:>2»,
«53>- 0:045<8O». 
:>@?CA0E A>740=K 83@>2K5 :><=0BK,>1>@C4>20==K5
@07;8G=K<8 2840<8 :>=AB@C:B>@>2.
#@>5:B8@>20=85 2>A?8B0B5;L=KE A>1KB89 AB@>8BAO =0 >A=>25 B@048F8>==KE
?@074=8:>2 8 <5@>?@8OB89 "' 8 @5:><5=40F89 ("# ":
÷ 0;5=40@=K5, =0@>4=K5 ?@074=8:8
÷ #>74@02;5=85 8<5=8==8:>2
÷ &C@8ABA:89 A;5B 4;O 2>A?8B0==8:>2 AB0@H59, ?>43>B>28B5;L=>9
3@C??K
÷ AB@5G8 A 8=B5@5A=K<8 ;N4L<8
÷ >=F5@BK : =N ?>68;>3> G5;>25:0, =N 8=20;84>2, =N
#>154K 4;O 68B5;59 <8:@>@09>=0 02>:70;L=K9
÷ ;03>B2>@8B5;L=K5 O@<0@:8
÷ 48=K9 @>48B5;LA:89 45=L
÷ «$>645AB25=A:85 ?>A845;:8»
÷ %B@>8B5;LAB2> A=56=KE 3>@>4:>2
÷ 8<=OO A?0@B0:8040 A@548 A5<59 2>A?8B0==8:>2
÷ >=:C@A 45BA:8E ?@>5:B>2
÷ &50B@0;L=0O 25A=0
÷ !545;O 74>@>2LO
÷ 48=K9 @>48B5;LA:89 45=L
÷ !545;O B>;5@0=B=>AB8
÷ 5=L 4>1@>BK

81

"$!*"!!/ $
"5M<9 FD95B64A GE?B63@0<15A?5G8205BAO :>;;5:B82>< 45BA:>3> A040, 2A>AB02
:>B>@>3> 2E>4OB:
>;6=>ABL
(C=:F88 2>A?8B0B5;L=>3> ?@>F5AA0

>;
- 2>

0254CNI89
"'

'?@02;O5B 2>A?8B0B5;L=>9 45OB5;L=>ABLN =0 C@>2=5
"'; A>7405B CA;>28O, ?>72>;ONI85 ?5403>38G5A:>AB02C @50;87>20BL 2>A?8B0B5;L=CN 45OB5;L=>ABL;
:>=B@>;8@C5B 8A?>;=5=85 C?@02;5=G5A:8E @5H5=89
?> 2>A?8B0B5;L=>9 45OB5;L=>AB8 2 "'.

%B0@H89
2>A?8B0B5;L

@07@010BK205B
=5>1E>48@30=870F88
2>A?8B0B5;L=>9 45OB5;L=>AB8 2 "' =>@<0B82=K5
4>:C<5=BK (?>;>65=8O, 8=AB@C:F88, 4>;6=>AB=K5 8
DC=:F8>=0;L=K5 >1O70==>AB8, ?@>5:BK 8 ?@>3@0<A?8B0B5;L=>9 @01>BK 8 4@.);
?@>2>48B 0=0;87 8B>3>2 2>A?8B0B5;L=>9 45OB5;L=>AB8
2 "' 70 CG51=K9 3>4; ?;0=8@C5B 2>A?8B0B5;L=CN
45OB5;L=>ABL 2 "' =0 CG51=K9 3>4, 2:;NG0O
:0;5=40@=K9 ?;0= 2>A?8B0B5;L=>9 @01>BK =0 CG51=K9
3>4; @53C;8@C5B 2>A?8B0B5;L=CN 45OB5;L=>ABL 2 "';
>ACI5AB2;O5B <>=8B>@8=3 :0G5AB20 >@30=870F88
2>A?8B0B5;L=>9 45OB5;L=>AB8 2 "'.
>@30=87C5B 2>A?8B0B5;L=CN 45OB5;L=>ABL 2 "';

2

>ACI5AB2;O5B 2>A?8B0B5;L=> - >1@07>20B5;L=CN
45OB5;L=>ABL
2>A?8B0==8:>2,
>15A?5G820O
2K?>;=5=85
>1@07>20B5;L=>9
?@>3@0<>B25BAB288
A
D545@0;L=K<
3>AC40@AB25==K<
>1@07>20B5;L=K<
AB0=40@B><
4>H:>;L=>3>
>1@07>20=8O (("% ") 8 3>4>2K< ?;0=>< "';
A>459AB2C5B A>740=8N 1;03>?@8OB=KE CA;>289 4;O
8=48284C0;L=>3>
@0728B8O
8
=@02AB25==>3>
D>@<8@>20=8O ;8G=>AB8 2>A?8B0==8:>2, 2=>A8B

50

>A?8B0B5;L

1

82

=5>1E>48@@5:B82K 2 A8AB5A?8B0=8O;
>ACI5AB2;O5B 87CG5=8O ;8G=>AB8 45B59, 8EA:;>==>AB59,
8=B5@5A>2,
8=48284C0;L=KE
A?>A>1=>AB59, A>459AB2C5B @>ABC 8E ?>7=020B5;L=>9
<>B820F88,
AB0=>2;5=8N
8E
CG51=>9
A0<>AB>OB5;L=>AB8, D>@<8@>20=8N :>AB59 8
@0728B8N A?>A>1=>AB59 2 @07=KE D>@<0E >@30=870F88
45BA:>9 5OB5;L=>AB8; >ACI5AB2;O5B =01;N45=85 70
?>2545=85< 45B59 2 ?5@8>4 8E 040?B0F88 2 45BA:>< A04C,
A>7405B 1;03>?@8OB=K5 CA;>28O 4;O ;53:>9 8 1KAB@>9
040?B0F88. %>7405B 1;03>?@8OB=CN <8:@>A@54C 8
<>@0;L=> 3 ?A8E>;>38G5A:89 :;8<0B 4;O :064>3> @515=:0;
A?>A>1AB2C5B @0728B8N >1I5=8O 45B59; ?><>305B
2>A?8B0==8:C @5H0BL 2>7=8:H85 ?@>1;51I5=88 A
45BL<8 2 3@C??5, ?5403>38G5A:8<8
@01>B=8:0<8, @>48B5;O<8 (;8F0<8, 8E 70<5=ONI8<8).

5.

C7K:0;L=K9
@C:>2>48B5;L

>ACI5AB2;O5B @0728B85 A>1=>AB59 8
M<>F8>=0;L=>9 AD5@K, B2>@G5A:>9 45OB5;L=>AB8
2>A?8B0==8:>2; 45OB5;L=>ABL
?>
2>A?8B0=8N,
>1@07>20=8N 8 @0728B8N 2>A?8B0==8:>2, >15A?5G820O
2K?>;=5=85 >1I5>1@07>20B5;L=>9
?@>3@0<1@07>20B5;L=>9 >1;0AB8
«)C4>65AB25==>
3
MAB5B8G5A:>5 @0728B85» 2 A>>B25BAB288 A D545@0;L=K<
3>AC40@AB25==K< >1@07>20B5;L=K<
AB0=40@B><;
BI0B5;L=K9 ?@8A<>B@ 70 225@5==K<8 53>< A>>B25BAB288 A B@51>20=8O<8 8=AB@C:F88 ?>
>E@0=5 687=8 8 74>@>2LO 45B59 2 < 70;5;
87CG5=85 8=48284C0;L=KE A?>A>1=>AB59, A:;>==>AB59
8 8=B5@5A>2 45B59 2 >1;0AB8  3
EC4>65AB25==>9 45OB5;L=>AB8 8 3>
8A:CAAB20; A>740=85 1;03>?@8OB=KE CA;>289 4;O
8=48284C0;L=>3> @0728B8O
8
=@02AB25==>3>
D>@<8@>20=8O ;8G=>AB8 2>A?8B0==8:>2, A>459AB285
@0728B8N AB8 45B59 8 A?>A>1=>AB8
M<>F8>=0;L=> 2>A?@8=8<0BL B@C4=8G5AB2>
A 45BA:8<8 A040<8 8 A>F8C<>< ?> 2>?@>A0<
3> 2>A?8B0=8O.

4

83

=AB@C:B>@ ?>
(

>@30=87C5B 8 ?@>2>48B A CG0AB85< ?5403>38G5A:8E
@01>B=8:>2 8 @>48B5;59 (;8F, 8E 70<5=ONI8E)
D87:C;LBC@=>
3
A?>@B82=K5
?@074=8:8,
A>@52=>20=8O, 4=8 74>@>2LO 8 4@C385 <5@>?@8OB8O
>74>@>28B5;L=>3>
E0@0:B5@0;
>ACI5AB2;O5B
?@>A25B8B5;LA:CN @01>BC A@548 @>48B5;59 (;8F, 8E
70<5=ONI8E)
2>A?8B0==8:>2,
?5403>38G5A:8E
@01>B=8:>2 2 >1;0AB8 D878G5A:>9 :C;LBC@K A
?@82;5G5=85<
A>>B25BAB2CNI8E
A?5F80;8AB>2;
>?@545;O5B A>45@60=85 70=OB89 A CG5B>< 2>7@0AB0,
?>43>B>2;5==>AB8,
8=48284C0;L=KE
8
?A8E>D878G5A:8E
>A>15==>AB59,
8=B5@5A>2
2>A?8B0==8:>2; 2545B
@01>BC
?>
?@828B8N
2>A?8B0==8:0< =02K:>2 2K?>;=5=8O D878G5A:8E
C?@06=5=89, >1CG05B 45B59 8E B5E=8:5, D>@<8@C5B 8E
=@02AB25==>-2>;52K5
:0G5AB20;
>15A?5G8205B
157>?0A=>ABL 2>A?8B0==8:>2
?@8
?@>2545=88
D878G5A:8E 8 A?>@B82=KE 70=OB89, >:07K205B 8<
?5@2CN 4>2@0G51=CN ?><>IL; ?>AB>O==> A;548B 70
A>1;N45=85< A0=8B0@=> 3 38385=8G5A:8E =>@< 8
A>AB>O=85< ?><5I5=89; A>2<5AB=> A <548F8=A:8<8
@01>B=8:0<8 :>=B@>;8@C5B A>AB>O=85 74>@>2LO
2>A?8B0==8:>2 8 @53C;8@C5B 8E D878G5A:CN =03@C7:C,
2545B <>=8B>@8=3 :0G5AB20 >74>@>28B5;L=>9 @01>BK 2
>1@07>20B5;L=>< CG@5645=88 A 8A?>;L7>20=85<
M;5:B@>==KE D>@< CG5B0 ?>:070B5;59 74>@>2LO 8
D878G5A:8E =03@C7>:; :>=AC;LB8@C5B 8 :>>@48=8@C5B
45OB5;L=>ABL ?5403>38G5A:8E @01>B=8:>2 ?> 2>?@>A0<
B5>@88 8 ?@0:B8:8 D878G5A:>3> 2>A?8B0=8O
2>A?8B0==8:>2.

3

84

#><>I=8:
2>A?8B0B5;O

?>4
@C:>2>4AB2><
2>A?8B0B5;O
>ACI5AB2;O5B 26
?>2A54=52=CN @01>BC, >15A?5G820NICN A>740=85
CA;>289 4;O
A>F80;L=>
3
?A8E>;>38G5A:>9
@5018;8B0F88, A>F80;L=>9 8 B@C4>2>9 040?B0F88
2>A?8B0==8:>2;
A>2<5AB=>
A
<548F8=A:8<8
@01>B=8:0<8 8 ?>4 @C:>2>4AB2>< 2>A?8B0B5;O
>15A?5G8205B A>E@0=5=85 8 C:@5?;5=85 74>@>2LO
45B59, ?@>2545=85 <5@>?@8OB89, A?>A>1AB2CNI8E 8E
?A8E>D878G5A:>1;N45=8N 8<8
@0A?>@O4:0 4=O; >@30=87C5B A CG5B>< 2>7@0AB0 45B59
@01>BC ?> A0<>>1A;C6820=8N, A>1;N45=8N 8<8
B@51>20=89 >E@0=K B@C40, >:07K205B 8< =5>1E>48<>IL ?> ?@828B8N A0=8B0@=> 3 38385=8G5A:8E
=02K:>2; CG0AB2C5B 2 @01>B5 ?> ?@>D8;0:B8:5
>B:;>=ONI53>AO ?>2545=8O, 2@54=KE ?@82KG5: C
45B59.

#@>3@0<<0 2>A?8B0=8O "' @50;87C5BAO G5@57 D>@<8@>20=85 A>F8>:C;LBC@=>3>
2>A?8B0B5;L=>3> ?@>AB@0=AB20 ?@8 A>1;N45=88 CA;>289 A>740=8O C:;040, >B@060NI53>
3>B>2=>ABL 2A5E CG0AB=8:>2 >1@07>20B5;L=>3> ?@>F5AA0 @C:>2>4AB2>20BLAO 548=K<8
?@8=F8?0<8 8 @53C;O@=> 2>A?@>872>48BL =081>;55 F5==K5 2>A?8B0B5;L=> 7=0G82<5AB=>9 45OB5;L=>AB8.
4F9D<4?PAB-F9IAB9 B59EC9K9A<9
"?8A0=85 <0B5@80;L=> 3B5E=8G5A:>3> >15A?5G5=8O ?@54AB02;5=> 2 ""# "
"' 5BA:89 A04 7 1 «C@02CH:0»
"59EC9K9AABEFP @9FB8<@< @4F9D<4?4@< < ED98EF64@< B5GK9AABL <5B>48G5A:8<8 <0B5@80;0<8 8 A@54AB20<8 >1CG5=8O 8
2>A?8B0=8O ?@54AB02;5=0 2 ""# " "' 5BA:89 A04 7 1 «C@02CH:0»
?BEE4D<=
"A=>2=K5 ?>=OB8O, 8A?>;L7C53@0<<5 2>A?8B0=8O.
BECABL, =0?@02;5==0O =0 @0728B85 ;8G=>AB8, A>740=85
CA;>289 4;O A0<>>?@545;5=8O 8 A>F80;870F88 >1CG0NI8EAO =0 >A=>25
A>F8>:C;LBC@=KE, 4CE>2=>- =@02AB25==KE F5==>AB59 8 ?@8=OBKE 2 @>AA89A:><
>1I5AB25 ?@028; 8 =>@< ?>2545=8O 2 8=B5@5A0E G5;>25:0, A51I5AB20 8
3>AC40@AB20,
D>@<8@>20=85
C
>1CG0NI8EAO
GC2AB20
?0B@8>B87<0,
3@0640=AB25==>AB8, C2065=8O : ?02 "B5G5AB20 8 ?>42830< 5@>52
"B5G5AB20, 70:>=C 8 ?@02>?>@O4:C, G5;>25:C B@C40 8 AB0@H5:>;5=8N,
2708<=>3> C2065=8O, 15@56=>3> >B=>H5=8O : :C;LBC@=>3>=0F8>=0;L=>3> =0@>40 $>AA89A:>9 (545@0F88, ?@8@>45 8 >:@C60NI59 A@545;
85

"5D4;B64F9?PA4S EG:0 ?5@5A5G5=8O >1@07>20B5;L=>3> ?@>F5AA0 8
?5403>38G5A:>9 45OB5;L=>AB8: :064>1@07>20B5;L=>9 A8BC0F88
A>>B25BAB2CNB A2>8 ?@>3@0<A;>3>, ?@>O2;ONI85AO2
B>9 8;8 8=>9 ?>78F88. "1@07>20B5;L=0O A8BC0F8O A>>B=>A8<0 A A8BC0F859 @0728B8O.
>A?8B0B5;L=K5 A>1KB8O O2;ONBAO @07=>284=>ABLN >1@07>20B5;L=KE A8BC0F89.
"5D4;B64F9?PA4S ED984 3 A>F8>:C;LBC@=>5 A>45@60=85 >1@07>20=8O,
>1J548=O5B 2 A515 F5;8 8 AA?8B0=8O, >1CG5=8O 8 @0728B8O 45B59 2
:>=:@5B=>9 A>F8>:C;LBC@=>9 A8BC0F88, >?@545;O5B A>AB02 AB0=>2OI8EAO
A?>A>1=>AB59 8 :0G5AB2.
#>B5=F80; >1@07>20B5;L=>9 A@54K 4;O @5H5=8O F5;59 2>A?8B0=8O ;8G=>AB8
?>72>;O5B 3>2>@8BL > 2>A?8BK20NI59 A@545.
"5MABEFP 3 CAB>9G820O A8AB5<0 A2O759 8 >B=>H5=89 <564C ;N4L<8, 8<5NI0O
548=K5 F5==>AB=>-A2K5 >A=>20=8O 8 :>=:@5B=K5 F5;52K5 >@85=B8@K.
"1I=>ABL 3 MB> :0G5AB25==0O E0@0:B5@8AB8:0 ;N1>3> >1J548=5=8O ;N459,
>?@545;ONI0O AB5?5=L 8E 548=AB20 8 A>2<5AB=>AB8 (45BA:>-27@>A;0O, 45BA:0O,
?@>D5AA8>=0;L=0O, ?@>D5AA8>=0;L=>- @>48B5;LA:0O).
#BDFD9F D959A>4 3 MB> A>2>:C?=>ABL E0@0:B5@8AB8: ;8G=>AB=KE @57C;LB0B>2 8
4>AB865=89 @515=:0 =0 >?@545;5==>< 2>7@0AB=>< MB0?5.
%BJG?PFGDAO9 J9AABEF< 3 >A=>2=K5 687=5==K5 A?@545;ONI85
>B=>H5=85 G5;>25:0 : >:@C60NI59 459AB28B5;L=>AB8 8 45B5@<8=8@CNI85
>A=>2=K5 <>45;8 A>F80;L=>3> ?>2545=8O, :>B>@K<8 @C:>2>4AB2C5BAO G5;>25: 2
?>2A54=52=>9 687=8 8 45OB5;L=>AB8.
%G5N9>FABEFP 3 A>F80;L=K9, 45OB5;L=>-?@5>1@07CNI89 A?>A>1 687=8
G5;>25:0. %C1J5:B=>ABL 2?5@2K5 ?>O2;O5BAO 2 :>=F5 4>H:>;L=>3> 45BAB20 :0:
A?>A>1=>ABL @515=:0 : 8=8F80B825 2 83@5, ?>7=0=88, :><4C:B82=KE
2840E 45OB5;L=>AB8, :0: A?>A>1=>ABL A>25@H0BL =@02AB25==K9 ?>ABC?>:,
@07 A2>8E 459AB28OE 8 8E ?>A;54AB28OE.
'>?48
3
>1I5AB25==K9
4>3>2>@
CG0AB=8:>2 >1@07>20B5;L=KE
>B=>H5=89, >?8@0NI89AO =0 107>2K5 =0F8>=0;L=K5 F5==>AB8, A>45@60I89
B@048F89 @538>=0 8
"", 7040NI89 :C;LBC@C?>2545=8O A>>1I5AB2,
>?8AK20NI89 ?@54<5B=>-?@>AB@0=AB25==CN A@54C, 45OB5;L=>ABL 8
A>F8>:C;LBC@=K9 :>=B5:AB.

86

IV. "D74A<;4J<9 GE?B63@0<15A?5G8205BAO A;54CNI8<8 ?A8E>;>3>?5403>38G5A:8<8 CA;>28O<8:
1) ?@87=0=85 45BAB20 :0: C=8:0;L=>3> ?5@8>40 2 AB0=>2;5=88 G5;>25:0,
?>=8<0=85 =5?>2B>@8<>AB8 ;8G=>AB8 :064>3> @51U=:0, ?@8=OB85 2>A?8B0==8:0
B0:8<, :0:>9 >= 5ABL, A> 2A5<8 53> 8=48284C0;L=K<8 ?@>O2;5=8O<8; ?@>O2;5=85
C2065=8O : @072820NI59AO ;8G=>AB8, :0: 2KAH59 F5==>AB8, ?>445@6:0
C25@5==>AB8 2 A>1AB25==KE 2>7<>6=>ABOE 8 A?>A>1=>ABOE C :064>3>
2>A?8B0==8:0;
2) @5H5=85 >1@07>20B5;L=KE 7040G A 8A?>;L7>20=85< :0: =>2KE D>@<
>@30=870F88 ?@>F5AA0 >1@07>20=8O (?@>5:B=0O 45OB5;L=>ABL, >1@07>20B5;L=0O
A8BC0F8O, >1@07>20B5;L=>5 A>1KB85, >1>30I5==K5 83@K 45B59 2 F5=B@0E
0:B82=>AB8,
?@>1;5<=>->1CG0NI85
A8BC0F88
2
@0<:0E
8=B53@0F88
>1@07>20B5;L=KE >1;0AB59 8 4@C3>5), B0: 8 B@048F8>==KE (D@>=B0;L=K5,
?>43@C??>2K5, 8=48284C0;L=K5 70=OB89. #@8 MB>< 70=OB85 @0AA<0B@8205BAO :0:
45;>, 70=8<0B5;L=>5 8 8=B5@5A=>5 45BO<, @072820NI55 8E; 45OB5;L=>ABL,
=0?@02;5==0O =0 >A2>5=85 45BL<8 >4=>9 8;8 =5A:>;L:8E >1@07>20B5;L=KE
>1;0AB59, 8;8 8E 8=B53@0F8N A 8A?>;L7>20=85< @07=>>1@07=KE ?5403>38G5A:8
>1>A=>20==KE D>@< 8 <5B>4>2 @01>BK, 2K1>@ :>B>@KE >ACI5AB2;O5BAO
?5403>3><;
3) >15A?5G5=85 ?@55AB8 A>45@60=8O 8 D>@< >@30=870F88
>1@07>20B5;L=>3> ?@>F5AA0 2 "", 2 B>< G8A;5 4>H:>;L=>3> 8 =0G0;L=>3>
>1I53> C@>2=59 >1@07>20=8O (>?>@0 =0 >?KB 45B59, =0:>?;5==K9 =0 ?@54K4CI8E
MB0?0E @0728B8O, 87<5=5=85 D>@< 8 <5B>4>2 >1@07>20B5;L=>9 @01>BK, >@85=B0F8O
=0 AB@0B538G5A:89 ?@8>@8B5B =5?@5@K2=>3> >1@07>20=8O - D>@<8@>20=85 C<5=8O
CG8BLAO);
4) CGUB A?5F8D8:8 2>7@0AB=>3> 8 8=48284C0;L=>3> ?A8E>D878G5A:>3>
@0728B8O >1CG0NI8EAO (8A?>;L7>20=85 D>@< 8 <5B>4>2, A>>B25BAB2CNI8E
2>7@0AB=K< >A>15==>ABO< 45B59; 284>2 45OB5;L=>AB8, A?5F8D8G5A:8E 4;O
:064>3> 2>7@0AB=>3> ?5@8>40, A>F80;L=>9 A8BC0F88 @0728B8O);
5) A>740=85 @072820NI59 8 M<>F8>=0;L=> :>@B=>9 4;O @51U=:0
>1@07>20B5;L=>9
A@54K,
A?>A>1AB2CNI59
M<>F8>=0;L=>-F5==>AB=>F80;L=>- ;8G=>AB=>7=020B5;L=>E@0=5=8N 53> 8=48284C0;L=>AB8, 2 :>B>@>9 @51U=>: @50;87C5B ?@02> =0
A2>1>4C 2K1>@0 45OB5;L=>AB8, ?0@B=5@0, A@54AB2 8 ?@>G55;
6) ?>AB@>5=85 >1@07>20B5;L=>9 45OB5;L=>AB8 =0 >A=>25 2708<>459AB28O
27@>A;KE A 45BL<8, >@85=B8@>20==>3> =0 8=B5@5AK 8 2>7<>6=>AB8 :064>3>
@51U=:0 8 CG8BK20NI53> A>F80;L=CN A8BC0F8N 53> @0728B8O;
7) 8=48284C0;870F8O >1@07>20=8O (2 B>< G8A;5 ?>445@6:0 @51U=:0,
?>AB@>5=85 53> >1@07>20B5;L=>9 B@05:B>@88) 8 >?B8<870F8O @01>BK A 3@C??>9
45B59, >A=>20==K5 =0 @57C;LB0B0E ?5403>38G5A:>9 4803=>AB8:8 (<>=8B>@8=30);
8) >:070=85 @0==59 :>@@5:F8>==>9 ?><>I8 45BO< A ""#, 2 B>< G8A;5 A
" =0 >A=>25 A?5F80;L=KE ?A8E>;>3>-?5403>38G5A:8E ?>4E>4>2, <5B>4>2,
A?>A>1>2 >1I5=8O 8 CA;>289, A?>A>1AB2CNI8E ?>;CG5=8N ", A>F80;L=>< G8A;5 ?>A@54AB2>< >@30=870F88 8=:;N782=>3>
>1@07>20=8O;
9) A>25@H5=AB2>20=85 >1@07>20B5;L=>9 @01>BK =0 >A=>25 @57C;LB0B>2
2KO2;5=8O 70?@>A>2 @>48B5;LA:>3> 8 ?@>D5AA8>=0;L=>3> A>>1I5AB20;
10) ?A8E>;>38G5A:0O, ?5403>38G5A:0O 8 <5B>48G5A:0O ?><>IL 8 ?>445@6:0,
:>=AC;LB8@>20=85 @>48B5;59 (70:>==KE ?@54AB028B5;59) 2 2>?@>A0E >1CG5=8O,
2>A?8B0=8O 8 @0728B88 45B59, >E@0=K 8 C:@5?;5=8O 8E 74>@>2LO;
11) 2>2;5G5=85 @>48B5;59 (70:>==KE ?@54AB028B5;59) 2 ?@>F5AA @50;870F88
>1@07>20B5;L=>9 ?@>3@0<AB@>5=85 >B=>H5=89 A>B@C4=8G5AB20 2
A>>B25BAB288 A >1@07>20B5;L=K<8 ?>B@51=>ABO<8 8 2>7<>6=>ABO<8 A51CG0NI8EAO;
12) D>@<8@>20=85
8 @0728B85 ?@>D5AA8>=0;L=>9 :>AB8
?5403>3>2, ?A8E>;>3>-?5403>38G5A:>3> ?@>A25I5=8O @>48B5;59 (70:>==KE
?@54AB028B5;59) >1CG0NI8EAO;
13) =5?@5@K2=>5 ?A8E>;>3>-?5403>38G5A:>5 A>?@>2>645=85 CG0AB=8:>2
>1@07>20B5;L=KE >B=>H5=89 2 ?@>F5AA5 @50;870F88 #@>3@0<15A?5G5=85 20@80B82=>AB8 53> A>45@60=8O, =0?@02;5=89 8 D>@<, A>3;0A=>
70?@>A0< @>48B5;LA:>3> 8 ?@>D5AA8>=0;L=>3> A>>1I5AB2;
14) 2708<>459AB285 A @07;8G=K<8 A>F80;L=K<8 8=AB8BCB0<8 (AD5@K
>1@07>20=8O, :C;LBC@K, D87:C;LBC@K 8 A?>@B0, 4@C38<8 A>F80;L=>2>A?8B0B5;L=K<8
AC1J5:B0<8
>B:@KB>9
>1@07>20B5;L=>9
A8AB5;L7>20=85 D>@< 8 <5B>4>2 2708<>459AB28O, 2>AB@51>20==KE A>2@5<5==>9
?5403>38G5A:>9 ?@0:B8:>9 8 A5@>= 2708<>459AB28O 2
A>2<5AB=>9 A>F80;L=>- 7=0G8<>9 45OB5;L=>AB8;
15) 8A?>;L7>20=85 H8@>:8E 2>7<>6=>AB59 A>F80;L=>9 A@54K, A>F8C<0 :0:
4>?>;=8B5;L=>3> A@54AB20 @0728B8O ;8G=>AB8, A>25@H5=AB2>20=8O ?@>F5AA0 5U
A>F80;870F88;
88

16) ?@54>AB02;5=85 8=D>@<0F88 > #@>3@0<<5 A520==K<

;8F0<, 2>2;5G5==K< 2 >1@07>20B5;L=CN 45OB5;L=>ABL, 0 B0:65 H8@>:>9
>1I5AB25==>AB8;
17) >15A?5G5=85 2>7<>6=>AB59 4;O >1AC645=8O #@>3@0<8A:0,
8A?>;L7>20=8O <0B5@80;>2, >15A?5G820NI8E 5U @50;870F8N, 2 B>< G8A;5 2
8=D>@<0F8>==>9 A@545.
4.1.2."EB59AABEF< BD74A<;4J<< D4;6<64RM9= CD98@9FABCDBEFD4AEF69AAB= ED98O.
$##% @0AA<0B@8205BAO :0: G0ABL >1@07>20B5;L=>9 A@54K 8 D0:B>@,
>1>30I0NI89 @0728B85 45B59. $##% "" 2KABC?05B >A=>2>9 4;O @07=>>1@07=>9,
@07=>AB>@>==5 @072820NI59, A>45@60B5;L=>9 8 ?@82;5:0B5;L=>9 4;O :064>3>
@51U=:0 45OB5;L=>AB8. $##% 2:;NG05B >@30=87>20==>5 ?@>AB@0=AB2> (B5@@8B>@8O
"",
3@C??>2K5
:><=0BK,
A?5F80;878@>20==K5,
B5E=>;>38G5A:85,
04<8=8AB@0B82=K5 8 8=K5 ?><5I5=8O), <0B5@80;K, >1>@C4>20=85, M;5:B@>==K5
>1@07>20B5;L=K5 @5AC@AK 8 A@54AB20 >1CG5=8O 8 2>A?8B0=8O, >E@0=K 8
C:@5?;5=8O 74>@>2LO 45B59 4>H:>;L=>3> 2>7@0AB0, <0B5@80;K 4;O >@30=870F88
A0<>AB>OB5;L=>9 B2>@G5A:>9 45OB5;L=>AB8 45B59. $##% A>7405B 2>7<>6=>AB8 4;O
CGUB0 >A>15==>AB59, 2>7<>6=>AB59 8 8=B5@5A>2 45B59, :>@@5:F88 =54>AB0B:>2 8E
@0728B8O. (545@0;L=0O ?@>3@0<<0 =5 2K428305B 65AB:8E B@51>20=89 :
>@30=870F88 $##% 8 >AB02;O5B 70 "" ?@02> A0<>AB>OB5;L=>3> ?@>5:B8@>20=8O
$##%.
 A>>B25BAB288 A> ("% " 2>7<>6=K @07=K5 20@80=BK A>740=8O ?@8
CA;>288 CGUB0 F5;59 8 ?@8=F8?>2 #@>3@0<7@0AB=>9 8 B5=45@=>9
A?5F8D8:8 4;O @50;870F88 #@>3@0<7405BAO :0: 548=>5
?@>AB@0=AB2>, 2A5 :>=5=BK :>B>@>3>, :0: 2 ?><5I5=88, B0: 8 2=5 53>,
A>3;0ACNBAO <564C A>1>9 ?> A>45@60=8N, <0AHB01C, EC4>65AB25==>B9 B59EC9K9A<9
0B5@80;L=>-B5E=8G5A:>5 >15A?5G5=85 #@>3@0< =0
2K?>;=5=85 A;54CNI8E 7040G:
- >ACI5AB2;OBL 2A5 284K 45OB5;L=>AB8 @515=:0, :0: 8=48284C0;L=>9
A0<>AB>OB5;L=>9, B0: 8 2 @0<:0E :064>9 4>H:>;L=>9 3@C??K A CG5B><
2>7@0AB=KE 8 8=48284C0;L=KE >A>15==>AB59 2>A?8B0==8:>2, 8E >A>1KE
>1@07>20B5;L=KE ?>B@51=>AB59;
- >@30=87>2K20BL
CG0AB85
@>48B5;59
2>A?8B0==8:>2
(70:>==KE
?@54AB028B5;59), ?5403>38G5A:8E @01>B=8:>2 8 ?@54AB028B5;59 >1I5AB25==>AB8 2
@07@01>B:5 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<740=88 CA;>289 4;O 55
@50;870F88, 0 B0:65 <>B828@CNI59 >1@07>20B5;L=>9 A@54K, C:;040 >@30=870F88,
>ACI5AB2;ONI59 >1@07>20B5;L=CN 45OB5;L=>ABL;
89

- 8A?>;L7>20BL 2 >1@07>20B5;L=>< ?@>F5AA5 A>2@5<5==K5 >1@07>20B5;L=K5

B5E=>;>388 (2 B. G. 83@>2K5, :><5:B=K5 B5E=>;>388 8
:C;LBC@=K5 ?@0:B8:8 A>F80;870F88 45B59);
- >1=>2;OBL A>45@60=85 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<48:8 8
B5E=>;>389 55 @50;870F88 2 A>>B25BAB288 A 48=0<8:>9 @0728B8O A8AB51@07>20=8O, 70?@>A0<8 2>A?8B0==8:>2 8 8E @>48B5;59 (70:>==KE
?@54AB028B5;59) A CG5B>< >A>15==>AB59 A>F8>:C;LBC@=>9 A@54K @0728B8O
2>A?8B0==8:>2 8 A?5F8D8:8 8=D>@<0F8>==>9 A>F80;870F88 45B59;
- >15A?5G820BL
MDD5:B82=>5 8A?>;L7>20=85 ?@>D5AA8>=0;L=>3> 8
B2>@G5A:>3> ?>B5=F80;0 ?5403>38G5A:8E, @C:>2>4OI8E 8 8=KE @01>B=8:>2
>@30=870F88, >ACI5AB2;ONI59 >1@07>20B5;L=CN 45OB5;L=>ABL, ?>2KH5=8O 8E
?@>D5AA8>=0;L=>9,
:><9,
8=D>@<0F8>==>9,
?@02>2>9
:>AB8 8 <0AB5@AB20 <>B828@>20=8O 45B59;
- MDD5:B82=> C?@02;OBL >@30=870F859, >ACI5AB2;ONI59 >1@07>20B5;L=CN
45OB5;L=>ABL, A 8A?>;L7>20=85< B5E=>;>389 C?@02;5=8O ?@>5:B0<8 8 7=0=8O<8,
C?@02;5=8O @8A:0<8, B5E=>;>389 @07@5H5=8O :>=D;8:B>2, 8=D>@<0F8>==>:><==KE B5E=>;>389, A>2@5<5==KE <5E0=87<>2 D8=0=A8@>20=8O.
%>740==K5 <0B5@80;L=>-B5E=8G5A:85 CA;>28O >15A?5G820NB:
1) 2>7<>6=>ABL 4>AB865=8O 2>A?8B0==8:0<8 ?;0=8@C52
>A2>5=8O #@>3@0<;=5=85 B@51>20=89, >?@545;O5>B25BAB288 A A0=8B0@=>M?845<8>;>38G5A:8<8 ?@028;0<8 8 =>@<0B820<8; A ?@028;0<8 ?>60@=>9
157>?0A=>AB8; : A@54AB20< >1CG5=8O 8 2>A?8B0=8O 2 A>>B25BAB288 A 2>7@0AB>< 8
8=48284C0;L=K<8 >A>15==>ABO<8 @0728B8O 45B59; >A=0I5==>AB8 ?><5I5=89
@072820NI59 ?@54<5B=>-?@>AB@0=AB25==>9 A@54>9;
3)
2>7<>6=>ABL 4;O 15A?@5?OBAB25==>3> 4>ABC?0 2>A?8B0==8:>2 A
>3@0=8G5==K<8 2>7<>6=>ABO<8 74>@>2LO, 2 B. G. 45B59-8=20;84>2, : >1J5:B0<
8=D@0AB@C:BC@K >@30=870F88, >ACI5AB2;ONI59 >1@07>20B5;L=CN 45OB5;L=>ABL.
;O @50;870F88 #@>3@0<1E>48<>5 4;O 2A5E 284>2
>1@07>20B5;L=>9
45OB5;L=>AB8
2>A?8B0==8:>2,
?5403>38G5A:>9,
04<8=8AB@0B82=>9 8 E>7O9AB25==>9 45OB5;L=>AB8 >A=0I5=85 8 >1>@C4>20=85:
3
CG51=>-<5B>48G5A:89 :><5=4>20==K9 ("# ";
3
?><5I5=8O 4;O 70=OB89 8 ?@>5:B>2, >15A?5G820NI85 >1@07>20=85 45B59
G5@57 83@C, >1I5=85, ?>7=020B5;L=>-8AA;54>20B5;LA:CN 45OB5;L=>ABL 8 4@C385
D>@AB8 @515=:0 A CG0AB85< 27@>A;KE 8 4@C38E 45B59;
3
>A=0I5=85 ?@54<5B=>-@072820NI59 A@54K, 2:;NG0NI59 A@54AB20
>1@07>20=8O 8 2>A?8B0=8O, ?>4>1@0==K5 2 A>>B25BAB288 A 2>7@0AB=K<8 8
8=48284C0;L=K<8 >A>15==>ABO<8 45B59 4>H:>;L=>3> 2>7@0AB0;
3
<515;L, B5E=8G5A:>5 >1>@C4>20=85, A?>@B82=K9 8 E>7O9AB25==K9
8=25=B0@L, 8=25=B0@L 4;O EC4>65AB25==>3> B2>@G5AB20, >B25BAB288 A A0=8B0@=>-M?845<8>;>38G5A:8<8 ?@028;0<8 8
=>@<0B820<8 2 :>@?CA0 "' 3 >B45;L=> AB>OI85 42CEMB06=K5 740=8O,
?>AB@>5==K5 ?> B8?>2>5:BC, @07<5I5=K =0 B5@@8B>@88 68;>3>
<8:@>@09>=0 «02>:70;L=K9». &5@@8B>@8O ?> ?5@8<5B@C >3@0645=0 701>@>< 8
90

75;5=K<8 =0A0645=8O<8. >=0 83@>2>9 B5@@8B>@88 2:;NG05B 2 A51O 3@C??>2K5
?;>I04:8 - 8=48284C0;L=K5 4;O :064>9 3@C??K. ;O 70I8BK 45B59 >B A>;=F0 8
>A04:>2 =0 B5@@8B>@88 :064>9 3@C??>2>9 ?;>I04:8 8<5NBAO 15A54:8 A
45@52O==K< ?>;>2K< ?>:@KB85<.
40=8O 4>H:>;L=>9 >1@07>20B5;L=>9 >@30=870F88 >1>@C4>20=K A8AB5<0<8
>B>?;5=8O 8 25=B8;OF88 2 A>>B25BAB288 A B@51>20=8O<8, ?@54JO2;O5B>?;5=8N, 25=B8;OF88 8 :>=48F8>=8@>20=8N 2>74CE0 2 >1I5AB25==KE 740=8OE
8 A>>@C65=8OE, A8AB5<>9 3>@OG53> 8 E>;>4=>3> 2>4>A=0165=8O 8 F5=B@0;L=>9
:0=0;870F88.
 740=8OE 4>H:>;L=>9 >1@07>20B5;L=>9 >@30=870F88 ?@54CA<>B@5=
A;54CNI89 =01>@ ?><5I5=89: 3@C??>2K5 OG59:8 (87>;8@>20==K5 ?><5I5=8O 4;O
:064>9 45BA:>9 3@C??K); 4>?>;=8B5;L=K5 ?><5I5=8O 4;O 70=OB89 A 45BL<8
(@?CA0E, :018=5BK 4;O ;>3>?540,
4;O ?5403>3>2-?A8E>;>3>2, :018=5B ;53>-:>=AB@C8@>20=8O); A>?CBAB2CNI85
?><5I5=8O (<548F8=A:89 1;>: (<548F8=A:89 :018=5B, ?@>F54C@=K9 :018=5B,
87>;OB>@), ?8I51;>:); ?@>3C;>G=K5 ?;>I04:8 4;O :064>9 3@C??K;
D87:C;LBC@=0O ?;>I04:0; ?><5I5=8O A;C651=>-1KB>2>3> =07=0G5=8O 4;O
?5@A>=0;0.
0640O 3@C??>20O :><=0B0 A>AB>8B 87 ?@8U<=>9, 345 45B8 @074520NBAO,
3@C??>2>9 :><=0BK; :>B>@>9 45B8 70=8<0NBAO 8 83@0NB; A?0;L=8, =>AOI59
?>;8DC=:F8>=0;L=K9 E0@0:B5@, 1CD5B=>9, C9 8 BC0;5B=>9 :><=0B. A5
3@C??K C:>20=K A>2@5<5==K< >1>@C4>20=85<, A>740=0 ?@54<5B=>@072820NI0O A@540 A>3;0A=> B@51>20=8O< ("% ".
;O ?@>2545=8O CG51=>-2>A?8B0B5;L=>3> ?@>F5AA0 >1>@C4>20=K:
ø
C7K:0;L=K9 70;
ø %?>@B82=K9 70;
ø
5B>48G5A:89 :018=5B, :018=5B>< ?5403>30-?A8E>;>30 8 CG8B5;O ;>3>?540
ø 24 ?@>3C;>G=KE CG0AB:0
ø (87:C;LBC@=0O ?;>I04:0 4;O >74>@>2;5=8O 45B59:
2 <548F8=A:8E :018=5B0, 2 ?@>F54C@=KE
:018=5B0.
"' >A=0I5=> A>2@5<5==K<8 B5E=8G5A:8<8 A@54AB20<8:
ø
3 5:B>@0
ø
7 :>2
ø
5 =>CB1C:>2
ø
5 ?@8=B5@>2+ 1 F25B=>9
ø
3 @>2
ø
1 8=B5@0:B82=0O 4>A:0
0640O 3@C??0, 2 A>>B25BAB288 A 2>7@0AB=K<8 >A>15==>ABO<8 45B59 8
?@>3@0<<=K<8 B@51>20=8O<8, >A=0I5=0 4840:B8G5A:8<8 8 @072820NI8<8
?>A>18O<8 ?> F5=B@0< @0728B8O 45B59.

91

"59EC9K9AABEFP @9FB8<@< @4F9D<4?4@< < ED98EF64@< B5GK9A20=85 CG51=>-<5B>48G5A:8E <0B5@80;>2

7
?/?

!0?@02;5=85 @01>BK

1.

#@>3@0<<0,
?;0=8@>20=85,
?5403>38G5A:0O
4803=>AB8:0

("# ", ("% "

2.

%>F80;L=>:><5
@0728B85

1. .. CF0:>20 "&@C4>2>5 2>A?8B0=85 2 45BA:>< A04C: 4;O
70=OB89 A 45BL<8 3-7 ;5B"
2. !.(. C10=>20 "$0728B85 83@>2>9 45OB5;L=>AB8. B>@0O
3@C??0 @0==53> 2>7@0AB0" (2-3 3>40)
3. !.(. C10=>20 "$0728B85 83@>2>9 45OB5;L=>AB8. ;04H0O
3@C??0" (3-4 3>40)
4. !.(. C10=>20 "$0728B85 83@>2>9 45OB5;L=>AB8. %@54=OO
3@C??0" (4-5 ;5B)
5. !.(. C10=>20 "$0728B85 83@>2>9 45OB5;L=>AB8. %B0@H0O
3@C??0" (5-6 ;5B)
!.(. C10=>20 "$0728B85 83@>2>9 45OB5;L=>AB8.
#>43>B>28B5;L=0O : H:>;5 3@C??0" (6-7 ;5B)
!03;O4=>-4840:B8G5A:85 ?>A>18O:
%5@8O « 8@ 2 :0@B8=:0E»: «>AC40@AB25==K5 A8<2>;K $>AA88»;
«5=L #>154K».
%5@8O «$0AA:07K ?> :0@B8=:0<»: «5;8:0O "B5G5AB25==0O 2>9=02
?@>872545=8OE EC4>6=8:>2»; «0I8B=8:8 "B5G5AB20».
%5@8O «$0AA:068B5 45BO< >...»: «$0AA:068B5 45BO< >
4>AB>?@8<5G0-B5;L=>ABOE >A:2K»; «$0AA:068B5 45BO< >
>A:>2A:>< @5<;5»; «$0AA:068B5 45BO< >1 "B5G5AB25==>9
2>9=5 1812 3>40».

92

3.

#>7=020B5;L=>5
@0728B85

1. !.. 5@0:A0, ".$. 0;8<>2 "#>7=020B5;L=>8AA;54>20B5;LA:0O 45OB5;L=>ABL 4>H:>;L=8:>2" (4-7 ;5B)
2. !.. 5@0:A0, .!. 5@0:A0 "#@>5:B=0O 45OB5;L=>ABL
4>H:>;L=8:>2"
3. "..
4. .. #><>@0520, .. #>78=0 "(>@<8@>20=85 M;5<5=B0@=KE
<0B5<0B8G5A:8E ?@54AB02;5=89. B>@0O 3@C??0 @0==53>
2>7@0AB0" (2-3 3>40)
5. ..#5B5@A>= «3@0;>G:0», «$07 ABC?5=L:0-420 ABC?5=L:0»
4;O 45B59 >B 3 4> 7 ;5B.
6. ".. %>;><5==8:>20 ""7=0:><;5=85 A ?@8@>4>9 2 45BA:><
A04C. B>@0O 3@C??0 @0==53> 2>7@0AB0" (2-3 3>40)
7. ".. %>;><5==8:>20 ""7=0:><;5=85 A ?@8@>4>9 2 45BA:><
A04C. ;04H0O 3@C??0 " (3-4 3>40)
8. ".. %>;><5==8:>20 ""7=0:><;5=85 A ?@8@>4>9 2 45BA:><
A04C. %@54=OO 3@C??0 " (4-5 ;5B)
9. ".. %>;><5==8:>20 ""7=0:><;5=85 A ?@8@>4>9 2 45BA:><
A04C. %B0@H0O 3@C??0 " (5-6 ;5B)
10. ".. %>;><5==8:>20 ""7=0:><;5=85 A ?@8@>4>9 2 45BA:><
A04C. %@54=OO 3@C??0 " (6-7 ;5B)
11. %.!. &5?;N: "3@K-70=OB8O =0 ?@>3C;:5 A <0;KH0<8" (4;O
@01>BK A 45BL<8 2-4 ;5B)
12. %.!. !8:>;0520 «.=K9 M:>;>3»
!03;O4=>-4840:B8G5A:85 ?>A>18O:
%5@8O «$0AA:07K ?> :0@B8=:0<»: «5A=0»; «@5<5=0 3>40»;
«8<0»; «5B>»; «"A5=L»; «$>4=0O ?@8@>40».
%5@8O « 8@ 2 :0@B8=:0E»: «5@52LO 8 ;8ABLO»; «><0H=85 682>B=K5»; «><0H=85 ?B8FK»; «82>B=K5 4 4><0H=85
?8B>B=K5 60@:8E AB@0=»; «82>B=K5 A@54=59
?>;>AK»; « >@A:85 >18B0B5;8»; «!0A5:>I8»;
«$5?B8;88 8 010:8 4 4@C7LO 8 ?><>I=8:8»;
«(@C:BK»; «*25BK»; «/3>4K ;5A=K5»; «/3>4K A04>2K5».
%5@8O «$0AA:068B5 45BO< >...»: «$0AA:068B5 45BO< > 3@810E»;
«$0A-A:068B5 45BO< > 45@52LOE»; «$0AA:068B5 45BO< > 4><0H=8E
682>B=KE»; «$0AA:068B5 45BO< > 4><0H=8E ?8B> 682>B=KE 60@:8E AB@0=»; «$0AA:068B5 45BO<
> ;5A=KE 682>B=KE»; «$0AA:068B5 45BO< > <>@A:8E >18B0B5;OE»;
«$0AA:068B5 45BO< > =0A5:> D@C:B0E»;
«$0AA:068B5 45BO< >1 >2>I0E»; «$0AA:068B5
45BO< > ?B8F0E»; «$0AA:068B5 45BO< > A04>2KE O3>40E».

93

4.

5.

$5G52>5 @0728B85

)C4>65AB25==>MAB5B8G5A:>5
@0728B85

1. .. 5@1>20 "$0728B85 2 45BA:>< A04C. B>@0O 3@C??0 @0==53>
2>7@0AB0" (2-3 3>40)
2. .. 5@1>20 "$0728B85 2 45BA:>< A04C. ;04H0O 3@C??0" (3-4
3>40)
3. .. 5@1>20 "$0728B85 2 45BA:>< A04C. %@54=OO 3@C??0" (4-5
;5B)
4. .. 5@1>20 "$0728B85 2 45BA:>< A04C. %B0@H0O 3@C??0" (5-6
;5B)
5. .. 5@1>20 "$0728B85 2 45BA:>< A04C. #>43>B>28B5;L=0O :
H:>;5 3@C??0" (6-7 ;5B)
6. )@5AB><0B8O 4;O GB5=8O 45BO< 2 45BA:>< A04C 8 4><0: 1-3
3>40.
7. )@5AB><0B8O 4;O GB5=8O 45BO< 2 45BA:>< A04C 8 4><0: 3-4
3>40.
8. )@5AB><0B8O 4;O GB5=8O 45BO< 2 45BA:>< A04C 8 4><0: 4-5 ;5B.
)@5AB><0B8O 4;O GB5=8O 45BO< 2 45BA:>< A04C 8 4><0: 5-6 ;5B.
11. )@5AB><0B8O 4;O GB5=8O 45BO< 2 45BA:>< A04C 8 4><0: 6-7
;5B.
1. &.%. ><0@>20 "5BA:>5 EC4>65AB25==>5 B2>@G5AB2> " (4;O
@01>BK A 45BL<8 2-7 ;5B)
2. &.%. ><0@>20 "7>1@078B5;L=0O 45OB5;L=>ABL 2 45BA:>< A04C.
;04H0O 3@C??0" (3-4 3>40)
3. &.%. ><0@>20 "7>1@078B5;L=0O 45OB5;L=>ABL 2 45BA:>< A04C.
%@54=OO 3@C??0" (4-5 ;5B)
4. &.%. ><0@>20 "7>1@078B5;L=0O 45OB5;L=>ABL 2 45BA:>< A04C.
%B0@H0O 3@C??0" (5-6 ;5B)
5. &.%. ><0@>20 "7>1@078B5;L=0O 45OB5;L=>ABL 2 45BA:>< A04C.
#>43>B>28B5;L=0O : H:>;5 3@C??0" (6-7 ;5B)
6. &.%. ><0@>20 "$0728B85 EC4>65AB25==KE A?>A>1=>AB59
4>H:>;L=8:>2"
7. .. CF0:>20 ">=AB@C8@>20=85 87 AB@>8B5;L=>3> <0B5@80;0.
%@54=OO 3@C??0" (4-5 ;5B)
8. .. CF0:>20 ">=AB@C8@>20=85 87 AB@>8B5;L=>3> <0B5@80;0.
%B0@H0O 3@C??0" (5-6 ;5B)
9. .. CF0:>20 ">=AB@C8@>20=85 87 AB@>8B5;L=>3> <0B5@80;0.
#>43>B>28B5;L=0O : H:>;5 3@C??0" (6-7 ;5B)
!03;O4=>-4840:B8G5A:85 ?>A>18O:

94

95

6.

%5@8O « 8@ 2 :0@B8=:0E»: «65;L»; «>@>45F:0O @>A?8AL ?>
45@52C»; «K<:>2A:0O 83@CH:0»; «0@3>?>;L 4 =0@>4=0O
83@CH:0»; « C7K:0;L=K5 8=AB@C<5=BK»; «#>;E>2- 0940=»;
«(8;8<>=>2A:0O =0@>4=0O 83@CH:0»; «)>E;><0».
#;0:0BK: «65;L. 745;8O. 65;L»; «"@=0<5=BK. #>;E>20940=»; «745;8O. #>;E>2- 0940=»; «"@=0<5=BK.
(8;8<>=>2A:0O A28ABC;L:0»; «)>E;><0. 745;8O»; «)>E;><0.
"@=0<5=BK».
%5@8O «$0AA:068B5 45BO< >...»: «$0AA:068B5 45BO< >
 A:2K», «$0AA:068B5 45BO< > >A:>2A:>< @5<;5».
%5@8O "A:CAAB2> - 45BO<": ">;H51=K9 ?;0AB8;8=",
">@>45F:0O @>A?8AL", "K<:>2A:0O 83@CH:0", "%:07>G=0O
365;L", "%5:@5BK 1C<06=>3> ;8AB0", "(8;8<>=>2A:0O 83@CH:0",
")>E;>A?8AL"
(878G5A:>5 @0728B85 1. ..#5=7C;0520 " 0;>?>4286=K5 83@K 8 83@>2K5
C?@06=5=8O" (4;O 70=OB89 A 45BL<8 3-7 ;5B)
2. .. #5=7C;0520 "(878G5A:0O :C;LBC@0 2 45BA:>< A04C.
;04H0O 3@C??0" (3-4 3>40)
3. & .. #5=7C;0520 "(878G5A:0O :C;LBC@0 2 45BA:>< A04C.
%@54=OO 3@C??0" (4-5 ;5B)
4. .. #5=7C;0520 "(878G5A:0O :C;LBC@0 2 45BA:>< A04C.
%B0@H0O 3@C??0" (5-6 ;5B)
5. .. #5=7C;0520 "(878G5A:0O :C;LBC@0 2 45BA:>< A04C.
#>43>B>28B5;L=0O : H:>;5 3@C??0" (6-7 ;5B)
6. .. #5=7C;0520 ""74>@>28B5;L=0O 38<=0AB8:0: :>20 "%1>@=8: ?>4286=KE 83@"
8. .. >;C1520 "8<=0AB8:0 8 <0AA06 4;O A0-4840:B8G5A:85 ?>A>18O:
%5@8O « 8@ 2 :0@B8=:0E»: «%?>@B82=K9 8=25=B0@L».
%5@8O «$0AA:07K ?> :0@B8=:0<»: «8<=85 284K A?>@B0»;
«5B=85 284K A?>@B0»; «$0A?>@O4>: 4=O».
%5@8O «$0AA:068B5 45BO< >...»: «$0AA:068B5 45BO< > 78<=8E
2840E A?>@B0»; «$0AA:068B5 45BO< >1 >;81 >;8=0E». #;0:0BK:
«8<=85 284K A?>@B0»; «5B=85 284K A?>@B0».

4.1.3.1.+4EFP, HBD@4@< B5D4;B64F9?PAOI BFABL9A<=
#0@F80;L=K5 ?@>3@0<48G5A:>5 ?>A>185 ..(5H8=>9 «53>-:>=AB@C8@>20=85 2 45BA:>< A04C»
?> @0728B8N :>=AB@C:B>@A:8E A?>A>1=>AB59 8 <5B>48G5A:>5 ?>A>185
«>=AB@C8@>20=85» )0;0<>20 .!, (@>;>2>9 $.. 2 @0<:0E @50;870F88 ?@>5:B0
«5BA:89 B5E=><8@» (:>@?CA «C@02CH:0»).
-?0@F80;L=0O >1@07>20B5;L=0O ?@>3@0<<0 ?> @0728B8N B5E=8G5A:8E 8
:>=AB@C:B82=KE C<5=89 2 A?5F8D8G5A:8E 4;O 4>H:>;L=>3> 2>7@0AB0 2840E
45OB5;L=>AB8 &..>;>A>25F., ...0@?>20., &..&8<>D5520 «"B (@U15;O 4>
@>1>B0: @0AB8< 1C4CI8E 8=65=5@>2» (:>@?CA «5A=0O ?>;O=0»)
("# " - 03

96

- ?0@F80;L=0O ?@>3@0<<0 «)C4>65AB25==K9 B@C4 2 45BA:>< A04C» /2B>@

K:>20 .., .: 8740B5;LA:89 4>< «0@0?C7», 20103. 4;O AB0@H53> 4>H:>;L=>3>
2>7@0AB0.
- ?0@F80;L=0O ?@>3@0<<0 «>=AB@C8@>20=85 2 45BA:>< A04C» /2B>@ K:>20
.., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173. $0745;K «>=AB@C8@>20=85 87
1C<038, A>;><:8».
- ?0@F80;L=0O ?@>3@0<< «(>@<8@>20=85 :C;LBC@K 157>?0A=>AB8» /2B>@
..&8<>D5520, 8740B5;LA:89 4>< «5BAB2>-#@5AA», 20153.
- ?0@F80;L=K5 M;5<5=BK 87 ?@>3@0<?0A=>ABL»/ /2B>@
K:>20 .., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173.
- G0ABL ?@>3@0< >1CG5=8N 3@0<>B5 4;O AB0@H53> 4>H:>;L=>3>
2>7@0AB0) «#> 4>@>35 : 071C:5» &.$. 8A;>20, 8740B5;LAB2> """ «0;0%%», 20173.
- ?0@F80;L=0O ?@>3@0<<0 A @538>=0;L=K< :>=5=B>< «"B:@KB8O (55G:8
:>?55G:8»/ 2B>@ ..N18<>20, 8740B5;LAB2> «!0F8>=0;L=>5 >1@07>20=85»,
20193.
- ?0@F80;L=0O ?@>3@0<<0 «!@02AB25==>-?0B@8>B8G5A:>5 2>A?8B0=85 45B59
4>H:>;L=>3> 2>7@0AB0» /2B>@ ./.5B>E8=0, 8740B5;LAB2> «5BAB2>-#@5AA»,
20193.
- <5B>48G5A:>5 ?>A>185 «"7=0:><;5=85 A ?@54<5B=K< 8 A>F80;L=K<
>:@C65=85<»/2B>@ "..K18=0, 8740B5;LAB2> « >A:20-A8=B57», 20213.
- ?0@F80;L=K5 M;5<5=BK 87 ?@>3@0<H:8»/ /2B>@ K:>20
.., .: 8740B5;LA:89 4>< «*25B=>9 <8@», 20173.
<8 CB@9M9AA=>20O, 21

C7K:0;L=K9
70;

%?>@B82=K9
70;

ø !5?>A@54AB25==>

>1@07>20B5;L=0O 45OB5;L=>ABL
ø $8B<8G5A:85 @07<8=:8
ø $072;5G5=8O
ø 8B5@0BC@=K5 3>AB8=K5
ø C:>;L=K5 ?>AB0=>2:8
ø %5<8=0@K
ø @C3;K5 AB>;K
ø AB@5G8
ø $>48B5;LA:85 A>1@0=8O 8
?@>G85 <5@>?@8OB8O
4;O
@>48B5;59
ø =48284C0;L=0O @01>B0

ø >AC3>2K5 <5@>?@8OB8O
ø #@074=8:8
A?>@B82=>9
=0?@02;5==>AB8

ø !5?>A@54AB25==>

>1@07>20B5;L=0O 45OB5;L=>ABL
ø %>@52=>20=8O
ø =48284C0;L=0O @01>B0
("# " - 03

"EA4M9A<9
"'

ø
C7K:0;L=K9 F5=B@
ø #5@5=>A=0O 2:0
ø ,8@@C4>20=85 4;O B50B@0;87>20==KE
?>AB0=>2>:

ø &5;5287>@
ø #80=8=>
ø 5BA:85 @B82=>5 >1>@C4>20=85
ø
>4C;8
ø !5B@048F8>==>5
D87:C;LBC@=>5
>1>@C4>20=85

ø 8<=0AB8G5A:0O AB5=:0
ø %?>@B82=>5 >1>@C4>20=85 4;O !"

97

548F8=A:89
:018=5B

ø "A<>B@ 45B59
ø >=AC;LB0F8O

øð
018=5B
«53>:045<8O»
>@84>@K
"'
#@>3C;>G=K5
'G0AB:8

(87:C;LBC@=0O
?;>I04:0

#>154K,8

C7K:0;L=K9
70;

%?>@B82=K9
70;

("# " - 03

<54A5AB@K,

2@0G59
ø >=AC;LB0B82=>?@>A25B8B5;LA:0O @01>B0 A
@>48B5;O<8 8 A>B@C4=8:0<8
"'

ø #@>F54C@=K9 :018=5B
ø
548F8=A:89 :018=5B

ø $01>B0

=04
A>740=85
ø "1@07>20B5;L=K5 :>=AB@C:B>@K A5@88
B5E=8G5A:>3>
?@>5:B0,
Lego,
«0=8<0B5;L=0O
D878:0»,
?@>3@0<<8@>20=85.
?;0=H5BK,
?;0BK,
4>?>;=8B5;L=K5
?@>10F8O
:>=AB@C:B>@K 53>-8@?8G8:8 A5@88
@>1>B>B5E=8G5A:8E ?@>F5AA>2
SMART, DUPLO.
ø %B5=4K 4;O @>48B5;59
ø =D>@<0F8>==>?@>A25B8B5;LA:0O @01>B0 A
ø %B5=4K 4;O A>B@C4=8:>2
A>B@C4=8:0<8 "'
8
@>48B5;O<8
ø #@>3C;:8, =01;N45=8O
ø #@>3C;>G=K5 ?;>I04:8 4;O 2A5E
2>7@0AB=KE 3@C??
ø 3@>20O 45OB5;L=>ABL
ø
3@>2>5, DC=:F8>=0;L=>5, A?>@B82=>5
ø %0<>AB>OB5;L=0O
>1>@C4>20=85
45OB5;L=>ABL
ø *25B=8:8
ø &@C4>20O 45OB5;L=>ABL
ø #>7=020B5;L=0O 45OB5;L=>ABL

ø A?>@B82=>5 >1>@C4>20=85
>1@07>20B5;L=0O 45OB5;L=>ABL
ø >1>@C4>20=85 4;O A?>@B82=KE 83@
?> D878G5A:>9 :C;LBC@5, øð
A?>@B82=K5 83@K, 4>AC3>2K5
<5@>?@8OB8O, ?@074=8:8
ø M;5:B@>==>5 ?80=8=>
ø =5?>A@54AB25==>
>1@07>20B5;L=0O 45OB5;L=>ABL
ø AC3>2K5 <5@>?@8OB8O
ø AB0F8>=0@=0O
2:0
ø CB@5==OO 38<=0AB8:0
ø H8@2
ø ?@074=8:8
ø 45BA:85 20==K5
ø H:0D
4;O
8A?>;L7C52>48B5;5< ?>A>189, 83@CH5:,
ø @>48B5;LA:85 A>1@0=8O 8
0B@81CB>2
?@>G85 <5@>?@8OB8O
4;O
45B59
ø !5?>A@54AB25==>
ø
C7K:0;L=K9 F5=B@
>1@07>20B5;L=0O 45OB5;L=>ABL
ø %?>@B82=>5 >1>@C4>20=85
ø 'B@5==OO 38<=0AB8:0
ø
>4C;8
ø >AC3>2K5 <5@>?@8OB8O
ø !5B@048F8>==>5
D87:C;LBC@=>5
>1>@C4>20=85
ø #@074=8:8
ø 8<=0AB8G5A:85 AB5=:8
ø $>48B5;LA:85 A>1@0=8O 8
?@>G85
<5@>?@8OB8O
4;O
ø &@5=06U@K
@>48B5;59
ø ,:0D 4;O 8A?>;L7C5@><
?>
("
?>A>189,
A?>@B82=>3>
8=25=B0@O , 0B@81CB>2 8 B.4.
ø >@30=87>20==0O

98

5B>48G5A:89
:018=5B

ø "ACI5AB2;5=85 <5B>48G5A:>9

?><>I8 ?5403>30<
ø "@30=870F8O :>=AC;LB0F89,
A5<8=0@>2, ?5403>38G5A:8E
A>25B>2
ø KAB02:0 4840:B8G5A:8E 8
<5B>48G5A:8E <0B5@80;>2 4;O
>@30=870F88 @01>BK A 45BL<8
?> @07;8G=K< =0?@02;5=8O<
@0728B8O

ø 81;8>B5:0 ?5403>38G5A:>9 8
<5B>48G5A:>9 ;8B5@0BC@K

ø 81;8>B5:0 ?5@8>48G5A:8E 8740=89
ø #>A>18O 4;O 70=OB89
ø "?KB @01>BK ?5403>3>2
ø
0B5@80;K :>=AC;LB0F89, A5<8=0@>2,
ø
ø
ø

ø
ø

018=5B
CG8B5;O 3
;>3>?540

018=5B
?5403>30 ?A8E>;>30

548F8=A:89
:018=5B

>@84>@K
"'
'G0AB:8

ø 0=OB8O ?> :>@@5:F88 @5G8
ø >=AC;LB0B82=0O @01>B0 A

@>48B5;O<8 ?> :>@@5:F88 @5G8
45B59

ø 0=OB8O ?> :>@@5:F88

?>7=020B5;L=KE ?@>F5AA>2,
M<>F8>=0;L=>-2>;52>9 AD5@K,
;8G=>AB=>9 AD5@K
ø 5BA:>-@>48B5;LA:85 >B=>H5=8O

ø "A<>B@ 45B59
ø >=AC;LB0F8O

ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø
ø

A5<8=0@>2-?@0:B8:C<>2
5<>=AB@0F8>==K9, @0740B>G=K9
<0B5@80; 4;O 70=OB89 A 45BL<8
;;NAB@0B82=K9 <0B5@80;
745;8O =0@>4=KE ?@>2:
K<:>2>, >@>45F, 65;L, )>E;><0,
#0;5E, >AB>2>, <0B@5H:8, 1>3>@>4A:85
83@CH:8
%:C;L?BC@K <0;KE D>@< (3;8=0, 45@52>)
3@CH:8, ;;5:F88
A5@
!>CB1C:
>;LH>5 =0AB5==>5 75@:0;>
%B>; 8 ABC;LO 4;O ;>3>?540 8 45B59
,:0D 4;O <5B>48G5A:>9 ;8B5@0BC@K,
?>A>189
!01>@=>5 ?>;>B=>, D;0=5;53@0D
=48284C0;L=K5 75@:0;0 4;O 45B59
!01>@ 4;O ?5A>G=>9 B5@0?88
%B>;K, ABC;LO 4;O ?5403>30 8 45B59
03=8B>D>=
>B5:8, 4840:B8G5A:85 ?>A>18O,
4840:B8G5A:85 83@K
03=8B=0O 4>A:0
,:0D 4;O ?>A>189
#@>F54C@=K9 :018=5B
548F8=A:89 :018=5B
#@8282>G=0O

<54A5AB@K,
2@0G59
>=AC;LB0B82=>-?@>A25B8B5;LA:0O
@01>B0 A @>48B5;O<8 8 A>B@C4=8:0<8
"'
=D>@<0F8>==>-?@>A25B8B5;LA:0O
%B5=4K 4;O @>48B5;59
@01>B0 A A>B@C4=8:0<8 "'
8 %B5=4K 4;O A>B@C4=8:>2
@>48B5;O<8
ø #@>3C;:8, =01;N45=8O
ø #@>3C;>G=K5 ?;>I04:8 4;O 2A5E
2>7@0AB=KE 3@C??
ø 3@>20O 45OB5;L=>ABL
ø 3@>2>5, DC=:F8>=0;L=>5, A?>@B82=>5
ø %0<>AB>OB5;L=0O
>1>@C4>20=85
45OB5;L=>ABL
ø (87:C;LBC@=0O ?;>I04:0
ø &@C4>20O 45OB5;L=>ABL
ø *25B=8:8
ø #>7=020B5;L=0O 45OB5;L=>ABL
ø >3>@>4

(87:C;LBC@=0O "@30=87>20==0O
>1@07>20B5;L=0O
ø %?>@B82=>5 >1>@C4>20=85
?;>I04:0
45OB5;L=>ABL ?> D878G5A:>9 :C;LBC@5, "1>@C4>20=85 4;O A?>@B82=KE 83@
A?>@B82=K5 83@K,
("# " - 03 4>AC3>2K5 <5@>?@8OB8O, ?@074=8:8

99

$4;6<64RM4S CD98@9FAB-CDBEFD4AEF69AA4S ED984 6 7DGCC4I
«*5=B@
D878G5A:>3> $0AH8@5=85
8=48284C0;L=>3> "1>@C4>20=85 4;O E>4L1K, 1530, @02=>25A8O
42830B5;L=>3>
>?KB0
2 ;O ?@K6:>2
@0728B8O»
A0<>AB>OB5;L=>9 45OB5;L=>AB8
;O :0B0=8O, 1@>A0=8O, ;>2;8
;O ?>;70=8O 8 ;070=8O
B@81CBK : ?>4286=K< 8 A?>@B82=K< 83@0<
!5B@048F8>==>5 D87:C;LBC@=>5 >1>@C4>20=85
«*5=B@
8AA;54>20=89, $0AH8@5=85
?>7=020B5;L=>3> 0;5=40@L ?@8@>4K (2 <;, A@, AB, ?>43. 3@)
>?KB>2,
87CG5=8O >?KB0,
53> 8A?>;L7>20=85 2 %57>==K9 <0B5@80;
?@8@>4K»
B@C4>2>9 45OB5;L=>AB8
#0A?>@B0 @0AB5=89
%B5=4 A> A<5=ONI8< =0
M:>;>38G5A:CN B5<0B8:C
0:5BK
8B5@0BC@0 ?@8@>4>254G5A:>3> A>45@60=8O,=01>@
:0@B8=>:, 0;L1>2545=8O M;5<5=B0@=KE >?KB>2
"1CG0NI85 8 4840:B8G5A:85 83@K ?> M:>;>388
=25=B0@L 4;O B@C4>2>9 45OB5;L=>AB8
#@8@>4=K9 8 1@>A>2K9 <0B5@80;.
0B5@80; ?> 0AB@>=><88 (AB, ?>43)
«*5=B@
$0AH8@5=85
?>7=020B5;L=>3> 840:B8G5A:89 <0B5@80; ?> A5=A>@=>7=020B5;L=>3> <8@0» A5=A>@=>3> >?KB0
2>A?8B0=8N
840:B8G5A:85 83@K
!0AB>;L=>-?5G0B=K5 83@K
#>7=020B5;L=K9 <0B5@80;
0B5@80; 4;O 45BA:>3> M:A?5@8<5=B8@>20=8O
«*5=B@
#@>6820=85,
?@5>1@07>20=85 !0?>;L=K9 AB@>8B5;L=K9 <0B5@80;; !0AB>;L=K9
:>=AB@C8@>20=8O»
?>7=020B5;L=>3>
>?KB0
2 AB@>8B5;L=K9 <0B5@80; #;0AB<0AA>2K5
?@>4C:B82=>9
45OB5;L=>AB8.
:>=AB@C:B>@K
(<;04H89
$0728B85
@CG=>9
C<5;>AB8, 2>7@0AB- A :@C?=K<8 45B0;O<8)
B2>@G5AB20. K@01>B:0 ?>78F88 >=AB@C:B>@K A <5B0;;8G5A:8<8 45B0;O<8 AB0@H89 2>7@0AB
B2>@F0.
%E545;8 4;O 2A5E 284>2 :>=AB@C:B>@>2
3 AB0@H89 2>7@0AB
O3:85
AB@>8B5;L=>- 83@>2K5 <>4C;8 <;04H89 2>7@0AB
&@0=A?>@B=K5 83@CH:8
%E5B45;L=KE ?>AB@>5:
(<>ABK, 4><0, :>@01;8, A0<>;UB 8 4@.).
>=AB@C:B>@K A5@88 Lego
«'3>;>:
AN65B=>- $50;870F8O @515=:>< ?>;CG5==KE 8 B@81CB8:0 4;O A-@ 83@ ?> 2>7@0ABC 45B59
@>;52KE 83@»
8<5NI8EAO 7=0=89 >1 >:@C60NI5< («%5;L=8F0», « 03078=», «,:>;0»,
<8@5
2
83@5.
!0:>?;5=85 «#0@8:<0E5@A:0O», «#>GB0», «@<8O»,
«>A<>=02BK», «81;8>B5:0», «B5;L5» 8 4@.)
687=5==>3> >?KB0
#@54<5BK- 70<5AB8B5;8
«'3>;>: 157>?0A=>AB8» $0AH8@5=85
?>7=020B5;L=>3> 840:B8G5A:85, =0AB>;L=K5 83@K ?>?@>D8;0:B8:5
>?KB0,
53>
8A?>;L7>20=85
2 
0:5BK ?5@5:@5AB:>2, @09>=>2 3>@>40,
?>2A54=52=>9 45OB5;L=>AB8
>@>6=K5 7=0:8
8B5@0BC@0 > #

("# " - 03

100

«@05254G5A:89
C3>;>:»

$0AH8@5=85
:@05254G5A:8E >AC40@AB25==0O A8<2>;8:0 8 A8<2>;8:0
?@54AB02;5=89 45B59, =0:>?;5=85 #5@3> :@0O 8 3. +09:>2A:89
?>7=020B5;L=>3> >?KB0
"1@07FK @CAA:8E :>ABN<>2 8 =0F8>=0;L=>AB59,
=0A5;ONI8E #@8:0B>8;;NAB@0F88 8 4@.
#@54<5BK =0@>4=>- ?@8:;04=>3> 8A:CAAB20
#@54<5BK @CAA:>3> 1KB0
8=8-65AB25==>9 ;8B5@0BC@K
«*5=B@
(>@<8@>20=85
C<5=8O 5BA:0O EC4>65AB25==0O ;8B5@0BC@0 2
EC4>65AB25==>9
A0<>AB>OB5;L=> @01>B0BL A :=83>9, A>>B25BAB288 A 2>7@0AB>< 45B59
;8B5@0BC@K»
«4>1K20BL» =C6=CN 8=D>@<0F8N ;;NAB@0F88 ?> B5<0< >1@07>20B5;L=>9
45OB5;L=>AB8 ?> >7=0:><;5=8N A >:@C60NI8<
<8@>< 8 >7=0:><;5=8N A EC4>65AB25==>9
;8B5@0BC@>9
0B5@80;K > EC4>6=8:0E 3 8;;NAB@0B>@0E
#>@B@5BK ?>MB>2, ?8A0B5;59 (AB0@H89 2>7@0AB)
&5<0B8G5A:85 2KAB02:8
«*5=B@
B50B@0;870F88 $0728B85 B2>@G5A:8E A?>A>1=>AB59 ,8@O28BL A51O -;5<5=BK :>ABN2
B2>@G5A:8E
A?>A>1=>AB59
2 #@54<5BK 45:>@0F88
A0<>AB>OB5;L=>-@8B<8G5A:>9
5BA:85 AB8
#>@B@5B :>78B>@0 (AB0@H89 2>7@0AB)
03=8B>D>=
!01>@ 0C48>70?8A59
C7K:0;L=K5 83@CH:8 (>72CG5==K5, =5
>72CG5==K5)
3@CH:8- A0<>45;:8
C7K:0;L=>- 4840:B8G5A:85 83@K, ?>A>18O.
«*5=B@
#@>6820=85,
?@5>1@07>20=85 >AB0B>G=>5 :>;8G5AB2> F25B=KE :0@0=40H59,
87>1@078B5;L=>9
?>7=020B5;L=>3>
>?KB0
2 :@0A>:, :8AB59, A0;D5B>:, ?;0AB8;8=0 (AB5:8,
45OB5;L=>AB8»
?@>4C:B82=>9
45OB5;L=>AB8. 4>A:8 4;O ;5?:8)
$0728B85
@CG=>9
C<5;>AB8, !0;8G85 F25B=>9 1C<038 8 :0@B>=0
B2>@G5AB20. K@01>B:0 ?>78F88 >AB0B>G=>5 :>;8G5AB2> =>6=8F A
B2>@F0
70:@C3;5==K<8 :>=F0<8, :;5O, :;55=>:,
A0;D5B>: 4;O 0??;8:0F88
@>A>2K9 <0B5@80; (D>;L30, D0=B8:8 >B :>=D5B
8 4@.)
5AB> 4;O A<5==KE 2KAB02>: 45BA:8E @01>B,
A>2<5AB=KE @01>B 45B59 8 @>48B5;59
5AB> 4;O A<5==KE 2KAB02>: ?@>872545=89
87>8A:CAAB20
;L1>@K >B:@KB>:, :0@B8=:8, :=838 8 0;L1>4=> 3 ?@8:;04=>3> 8A:CAAB20

#@>3@0<<0 >AB02;O5B 70 "" ?@02> A0<>AB>OB5;L=>3> ?>41>@0 @07=>284=>AB8
=5>1E>481CG5=8O, >1>@C4>20=8O, <0B5@80;>2, 8AE>4O 87 >A>15==>AB59
@50;870F88 >1@07>20B5;L=>9 ?@>3@0<AB8 >B 2>7<>6=>AB59, "" <>65B
A>740BL CA;>28O 4;O <0B5@80;L=>-B5E=8G5A:>3> >A=0I5=8O 4>?>;=8B5;L=KE ?><5I5=89:
" - 03
45BA:8E("#
181;8>B5:
8 2845>B5:, :>-83@>2KE :>2, 48709=-ABC489, 8

101

B50B@0;L=KE ABC489, <0AB5@A:8E, @8C<>2, 83@>B5:, 78<=8E A04>2,
0C48>287C0;L=KE 8 :>2, M:>;>38G5A:8E B@>? =0 B5@@8B>@88 "",
2, D8B>-10@>2, A0C= 8 A>;O=KE ?5I5@ 8 4@C38E, ?>72>;ONI8E
@0AH8@8BL >1@07>20B5;L=>5 ?@>AB@0=AB2>. #@>3@0<<0 ?@54CA<0B@8205B =5>1E>48<>ABL 2
A?5F80;L=>< >A=0I5=88 8 >1>@C4>20=88 4;O >@30=870F88 >1@07>20B5;L=>3> ?@>F5AA0 A
45BL<8 A " 8 45BL<8-8=20;840<8. #@>3@0<<>9 ?@54CA<>B@5=> B0:65 8A?>;L7>20=85
"" >1=>2;O51@07>20B5;L=KE @5AC@A>2, 2 B>< G8A;5 @0AE>4=KE <0B5@80;>2,
?>4?8A:8 =0 0:BC0;870F8N ?5@8>48G5A:8E 8 M;5:B@>==KE @5AC@A>2, <5B>48G5A:CN
;8B5@0BC@C, B5E=8G5A:>5 8 5 A>?@>2>645=85 45OB5;L=>AB8 A@54AB2
>1CG5=8O 8 2>A?8B0=8O, A?>@B82=>3>, 3>, >74>@>28B5;L=>3> >1>@C4>20=8O,
CA;C3 A2O78, 2 B>< G8A;5 8=D>@<0F8>==>-B5;5:><==>9 A5B8 =B5@=5B.
#@8 ?@>2545=88 70:C?>: >1>@C4>20=8O 8 A@54AB2 >1CG5=8O 8 2>A?8B0=8O "'
@C:>2>4AB2C5BAO =>@<0<8 70:>=>40B5;LAB20 $>AA89A:>9 (545@0F88, 2 B>< G8A;5 2 G0AB8
?@54>AB02;5=8O ?@8>@8B5B0 B>20@0< @>AA89A:>3> ?@>872>4AB20, @01>B0<, CA;C30<,
2K?>;=O5:07K205AA89A:8<8 N@848G5A:8<8 ;8F0<8.
4.1.4. #D<@9DAO= C9D9K9AP ?4?PAOI, IG8B:9EF69AAOI,
4A<@4J65AB25==>9 ;8B5@0BC@K.
"B 1 3>40 4> 2 ;5B.
0;K5 D>@;L:;>@0. «0: C =0H53> :>B0...», «8A:0, :8A:0, :8A:0, 1@KAL!..»,
«C@>G:0», «!0H8 CB>G:8 A CB@0...», «4C-54C : 1015, : 454C...», «>;LH85 =>38...»,
«#0;LG8:-<0;LG8:...», «#5BCH>:, ?5BCH>:...», «#>H5; :>B ?>4 <>AB>:...», «$04C304C30...».
$CAA:85 =0@>4=K5 A:07:8. «>7;OB:8 8 2>;:» (>1@01. .. 'H8=A:>3>), «>;>1>:»
(>1@01. .. 'H8=A:>3>), «>;>B>5 O8G:>» (>1@01. .. 'H8=A:>3>), « 0H0 8 <54254L»
(>1@01. .. C;0B>20), «$5?:0» (>1@01. .. 'H8=A:>3>), «&5@5<>:» (>1@01.
..
C;0B>20).
#>M78O. ;5:A0=4@>20 .!. «#@OB:8», «&>?>BCH:8», 0@B> A.JI. «KG>:», « OG8:»,
«%;>=», « 8H:0», «@C7>28:», «>H04:0», «>@01;8:», «%0<>;5B» (87 F8:;0
«3@CH:8»), «B> :0: :@8G8B», «#B8G:0», 5@5AB>2 .. «C@8F0 A FK?;OB0<8»,
;038=8=0 .. «;5=CH:0», C:>2A:89 .. «#B8G:0», 25=A5= .. «#>3;O48B5, 709:0
?;0G5B», ;>:>20 . « >9 :>=L», «>?-3>?», 0374K=L .$. «09:0, 709:0, ?>?;OH8!»,
0@H0: %./. «%;>=», «&83@5=>:», «%>2OB0» (87 F8:;0 «5B:8 2 :;5B:5»), "@;>20 .
«#0;LG8:8-<0;LG8:8», %B@5;L=8:>20 . «@O:-:@O:», &>:<0:>20 .#. «08=L:8», 'A0G52
. «$C:028G:0».
("# " - 03

102

#@>70. ;5:A0=4@>20 .!. «)@NH:0 8 +CH:0», .(. « 0H0 8 8H0», #0=B5;552 .
«0: ?>@>A5=>: 3>2>@8BL =0CG8;AO», %CB552 .. «*K?;5=>: 8 CB5=>:», +0@CH8= ..
«C@>G:0» (87 F8:;0 «>;LH85 8 <0;5=L:85»), +C:>2A:89 .. «*K?;5=>:».
"B 2 4> 3 ;5B.
0;K5 D>@;L:;>@0. « 108=L:8-108=L:8», «560;0 ;5A>G:>< ;8A0 A
:C7>2>G:><...», «>;LH85 =>38», «>48G:0, 2>48G:0», «>B 8 ;N48 A?OB», «>648:,
4>648:, ?>;=> ;8BL...», «0OF 3>@:0...», «45B :>70 @>30B0O», «7-70 ;5A0, 87-70 3>@...»,
«0BO, 0BO...», «8A>=L:0-=L:0...», «!0H0 0H0 <0;5=L:0...», «!0H8 CB>G:8 A
CB@0», «"3C@5G8:, >3C@5G8:...», «"9 4C-4C, 4C-4C, 4C-4C! %848B 2>@>= =0 4C1C», «#>5E0;8,
?>5E0;8», «#>H5; :>B8: =0 &>@6>:...», «&8;8-1>4=K5 A:07:8. «0NH:8=0 871CH:0» (>1@01. ". 0?8FK), «0: :>70
871CH:C ?>AB@>8;0» (>1@01.
.. C;0B>20), «>B, ?5BCE 8 ;8A0» (>1@01.
.
>3>;N1A:>9), «8A0 8 70OF» (>1@01. . 0;O), « 0H0 8 <54254L» (>1@01. .. C;0B>20),
«%=53C@CH:0 8 ;8A0» (>1@01. .!. &>;AB>3>).
(>;L:;>@ =0@>4>2 <8@0. « 3>ABOE C :>@>;52K», «$073>2>@», 0=3;. =0@. ?5A5=:8 (?5@.
8 >1@01. %.
0@H0:0); «"9 BK 70NH:0-?>AB@5;...», ?5@. A <>;4. . &>:<0:>2>9;
«%=538@5:», ?5@. A =5<. . 8:B>@>20, «&@8 25A5;KE 1@0BF0», ?5@. A =5<. . /E=8=0; «&K,
A>10G:0, =5 ;09...», ?5@. A <>;4. . &>:<0:>2>9; «' A>;=KH:0 2 3>ABOE», A;>20F:. =0@.
A:07:0 (?5@. 8 >1@01. %. >38;52A:>9 8 . >@8=>9).
#@>872545=8O ?>MB>2 8 ?8A0B5;59 $>AA88.
#>M78O. :8< /.. « 0<0»; ;5:A0=4@>20 .!. «C;8-3C;8», «@1C7»; 0@B> .,
0@B> #. «52>G:0-@U2CH:0»; 5@5AB>2 .. «5A5;>5 ;5B>», « 8H:0, <8H:0, ;5651>:0»,
«>B5=>:», «>@>1CH:8»; 2545=A:89 .. « KH:0»; 0374K=L .$. «#5BCH>:»;
5@<>=B>2 ... «%?8, <;045=5F...» (87 AB8E>B2>@5=8O «070GLO :>;K15;L=0O»); 0@H0:
%./. «%:07:0 > 3;C?>< =:5»; >H:>2A:0O -.-. «#@8:07» (2 A>:@.), « G8BAO ?>574»;
#8:C;520 !.. «8A89 E2>AB8:», «!04C20;0 :>H:0 H0@...»; #;5I552 .!. «&@02:0
75;5=55B...»; %0:>=A:0O !.#. «45 <>9 ?0;LG8:?»; %0?38@ .. «>H:0»; )0@@01;8:»; +C:>2A:89 .. «#CB0=8F0».
#@>70. 80=:8 .. «8A 8 =>:»; 0;8=8=0 !.. « ;5AC» (87 :=838 «5B><»),
«#@> 6C:0», «0: %0H0 8 ;5H0 ?@8H;8 2 45BA:89 A04» (1-2 @0AA:070 ?> 2K1>@C);
#02;>20 !. . «5<;O=8G:0»; %8<18@A:0O ..%. «#> B@>?8=:5, ?> 4>@>6:5»; %CB552 ..
«B> A:070; «4 3@81><»; &09F /. . «C18: =0 :C18:», «?5@548 2A5E»,
«>;:» (@0AA:07K ?> 2K1>@C); &>;AB>9 J1.H. «&@8 <54254O», «>AB>G:0»; 'H8=A:89 ..
«0AL:0», «#5BCH>: A A5G:8» (@0AA:07K ?> 2K1>@C); +0@CH8= .. « ;5AC»
(1-3 @0AA:070 ?> 2K1>@C), «>;G8H:>»; +C:>2A:89 .. « >94>4K@».
#@>872545=8O ?>MB>2 8 ?8A0B5;59 @07=KE AB@0=. 8AA5B . «0-30-30!», ?5@. A 0=3;. !.
("# " - 03 >=0;L4A>= . « 8H:0-?>GB0;L>=», ?5@.
,5@5H52A:>9;
. >@>48F:>9; 0?CB8:O= %..

103

«A5 A?OB», « 0H0 >15405B», ?5@. A 0@<. &. %?5=480@>2>9; "AB5@20;L45@
.
«#@8:;NG5=8O <0;5=L:>3> >1>. AB>@88 2 :0@B8=:0E 4;O A0@>2A:0O; -@8: . «"G5=L 3>;>4=0O 3CA5=8F0».
"B 3 4> 4 ;5B.
0;K5 D>@;L:;>@0. «9, :0G8-:0G8-:0G8...», «>6LO :>@>2:0...», «>;G>:2>;G>:, H5@ABO=>9 1>G>:...», «>648:, 4>648:, ?CI5...», «4C-54C : 1015, : 454C...»,
«8;8 C 101CA8...», «08=L:0, ?>?;OH8...», «0@O-70@O=8F0...»; «0: 157 4C4:8, 157
4C4K...», «0: C =0H53> :>B0...», «8A>=L:0-G:0- @O1CH5G:0...», «!0
C;8F5 B@8 :C@8FK...», «!>GL ?@8H;0...», «#0;LG8:-<0;LG8:...», «#@82O6C O :>7;8:0»,
«$04C30-4C30...», «%848B 15;:0 =0 B5;56:5...», «%>@>:0, A>@>:0...», «&5=L, B5=L,
?>B5B5=L...», «&8;8-1>G:8...».
$CAA:85 =0@>4=K5 A:07:8. «KG>: - G5@=K9 1>G>:, 15;K5 :>?KBF0» (>1@01. .
C;0B>20); «>;: 8 :>7;OB0» (>1@01. .!. &>;AB>3>); «>B, ?5BCE 8 ;8A0» (>1@01. .
>3>;N1A:>9); «8A0 8 70OF» (>1@01. . 0;O); «%=53C@>G:0 8 ;8A0» (>1@01. . C;0B>20);
«' AB@0E0 3;070 25;8:8» (>1@01. . %5@>2>9).
(>;L:;>@ =0@>4>2 <8@0. #5A5=:8. «>@01;8:», «)@01@5FK», « 0;5=L:85 D58»,
«&@8 725@>;>20» 0=3;., >1@. %. 0@H0:0; «+B> 70 3@>E>B», ?5@. A ;0BKH. %. 0@H0:0;
«C?8B5 ;C:...», ?5@. A H>B;. . &>:<0:>2>9; «$073>2>@ ;O3CH5:», «!5A3>2>@G82K9
C4>4», «#><>38B5!» ?5@. A G5H. %. 0@H0:0.
%:07:8. «20 604=KE <54256>=:0», 25=3., >1@. . @0A=>20 8 . 0640520;
«'?@O7K», C71. >1@. ,. %034C;;K; «' A>;=KH:0 2 3>ABOE», ?5@. A> A;>20F. %.
>38;52A:>9 8 . >@8=>9; «)@01@5F-<>;>45F», ?5@. A 1>;3. . @81>2>9; «#KE»,
15;>@CA, >1@. !. O;8:0: «5A=>9 <8H:0 8 ?@>:07=8F0 1@. .. 0=030,
?5@. . >@>=:>2>9.
#@>872545=8O ?>MB>2 8 ?8A0B5;59 $>AA88.
#>M78O. 0;L<>=B .. «"A5=L»; ;038=8=0 .. «$04C30»; >@>45F:89 %. . «B>
MB>?»; 01>;>F:89 !.. «0: B>< 2>520;8»; >;LF>2 .. «CNB 25B@K...» (87
AB8E>B2>@5=8O «$CAA:0O ?5A=O»); >AO:>2 .. «A5 >=0»; 09:>2 .!. «>;K15;L=0O
?5A=O»; 0@H0: % ./. «5B:8 2 :;5B:5» (AB8E>B2>@5=8O 87 F8:;0 ?> 2K1>@C), «&8E0O
A:07:0», «%:07:0 >1 C<=>< =:5»; 8E0;:>2 %.. «#5A5=:0 4@C759»; >H:>2A:0O
-.-. «048=0»; #;5I552 .!. «"A5=L =0ABC?8;0...», «5A=0» (2 A>:@.); #CH:8= .%.
«5B5@, 25B5@! &K <>3CG!..», «%25B =0H, A>;=KH:>!..», ?> 2K1>@C); &>:<0:>20 .#.
« 54254L»; +C:>2A:89 .. « >94>4K@», « CE0- F>:>BCE0», «68:8 A<5NBAO», «;:0»,
91>;8B», «+C4>-45@52>», «+5@5?0E0» (?> 2K1>@C).
#@>70. 80=:8 .. «C?0=85 <542560B»; >@>=:>20 .(. «%=53 845B» (87 :=838
«%=53 845B»); <8B@852 .. «%8=89 H0;0H8:»; 8B:>2 .%. «+B> O 2845;» (1-2 @0AA:070
?> 2K1>@C); 0@B09A:0O . «CH52=K5 8AB>@88 ?@> #@O=8:0 8 0@5=8:0»; >I5=:> . .
("#
" - 03
«'<=0O
?B8G:0»;
#@>:>DL520 C.JI. « 0H0 8 "9:0», «%:07:0 ?@> 3@C1>5 A;>2> «'E>48»»,

104

«%:07:0 > =52>A?8B0==>< =:5» (87 :=838 « 0H8=K A:07:8», ?> 2K1>@C); %CB552
.. «&@8 :>B5=:0»; &>;AB>9 JI.H. «#B8F0 A28;0 3=574>...»; «&0=O 7=0;0 1C:2K...»; «'
0@8 1K; G86...», «#@8H;0 25A=0...» (1-2 @0AA:070 ?> 2K1>@C); 'H8=A:89 .. «#5BCH>:
A A5G:8», «0AL:0», «8A0-#0B@8:552=0» (1-2 @0AA:070 ?> 2K1>@C); )0@872545=8O ?>MB>2 8 ?8A0B5;59 @07=KE AB@0=.
#>M78O. 85@C . «68: 8 10@010=», ?5@. A <>;4. /. :8<0; >@>=L:> #. «)8B@K9
U68:», ?5@. A C:@. %. 0@H0:0; LN4=8 . «0<0 :@0A=0O ?860<0», ?5@. &. CE0=>2>9;
018;0 !.. «0@0=40H», ?5@. A C:@. 3. ;5:A0=4@>2>9; 0?CB8:O= %. «B> A:>@55
4>?L5B», ?5@. A 0@<. %?5=480@>2>9; 0@5< . « >9 :>B», ?5@. A D@0=F. . C48=>2>9;
0:1@0B=8 %. «=05HL, :0: O B51O ;N1;N», ?5@. . 0=8I52>9, /. ,0?8@>; 8;520 .
«KAB@>=>6:0 8 A5@0O "456:0», ?5@. A 1>;3. . 0@8=>20.
#@>70. 5E;5@>20 X. «0?CAB=K9 ;8AB», ?5@. A ?>;LA:. . C:8=0; 8AA5B .
«O3CH:0 2 75@:0;5», ?5@. A 0=3;. !. ,5@5H52A:>9; CC@ . «@>H:0 =>B 8 &>B, :B>
A848B 2 ?@C4C», ?5@. A 0=3;. ". "1@07F>2>9; +0?5: . « ;5AC» (87 :=838 «#@8:;NG5=8O
?5A8:0 8 :>H5G:8»), ?5@. G5H5:. . C:8=0. 33.1.4. "B 4 4> 5 ;5B.
0;K5 D>@;L:;>@0. «0@0H5=KA8...», «CA8, 2K 3CA8...», «>648:- 4>648:,
25A5;59», «>=! >=! >=!...», «8; C 101CH:8 :>75;», «09G8H:0- B@CA8H:0...», «45B
;8A8G:0 ?> <>ABC...», «48 25A=0, 848, :@0A=0...», «>B =0 ?5G:C ?>H5;...», «!0H :>75;...»,
«!>6:8, =>6:8, 345 2K 1K;8?..», «$07, 420, B@8, G5BK@5, ?OBL - 2KH5; 709G8: ?>3C;OBL»,
«%53>4=O 45=L F5;K9...», «%848B, A848B 709:0...», «%>;=KH:>-254@KH:>...», «%BCG8B,
1@5=G8B», «&5=L-B5=L, ?>B5B5=L».
$CAA:85 =0@>4=K5 A:07:8. «CA8-;51548» (>1@01. .. C;0B>20); «8E0@:0» (>1@01.
. 0@=0CE>2>9); «0OF-E20AB0» (>1@01. .!. &>;AB>3>); «8<>2L5» (>1@01. . %>:>;>208:8B>20); «>70-45@570» (>1@01.
.. C;0B>20); «#5BCH>: 8 1>1>2>5 75@=KH:>»
(>1@01. ". 0?8FK); «8A0-;0?>B=8F0» (>1@01. . 0;O); «8A8G:0-A5AB@8G:0 8 2>;:
(>1@01. .. C;0B>20); «%<>;O=>9 1KG>:» (>1@01. .. C;0B>20); «%=53C@>G:0» (>1@01.
.. C;0B>20).
(>;L:;>@ =0@>4>2 <8@0.
#5A5=:8. «'BOB0», D@0=F., >1@01. !. 5@=5B 8 %. 8??8CA; «#0;LFK», ?5@. A =5<. J1.
/E8=0; «#5A=O <>@O:0» =>@2565:, =0@. ?5A5=:0 (>1@01. .. @>=A:>3>); «0@015:», 0=3;.
(>1@01. . +C:>2A:>3>); «,0;B09->;B09», 0=3;. (>1@01. %. 0@H0:0).
%:07:8. «@5<5=A:85 : 1@0BL52 @8<<, ?5@. A. =5<.
2545=A:>3>, ?>4 @54. %. 0@H0:0; «20 604=KE <54256>=:0», 25=35@. A:07:0 (>1@01. .
@0A=>2>9 8 . 0640520); «>;>A>:», C:@. =0@. A:07:0 (>1@01. %.
>38;52A:>9);
«@0A=0O ,0?>G:0», 87 A:07>: ,. #5@@>, ?5@. A D@0=F. &. 0115; «&@8 ?>@>A5=:0», ?5@. A
0=3;. %. 8E0;:>2
("# " - 03
#@>872545=8O
?>MB>2 8 ?8A0B5;59 $>AA88.

105

#>M78O. :8< /.. «#5@2K9 A=53»; ;5:A0=4@>20 .!. «&0=O ?@>?0;0», «&5?;K9
4>648:» (?> 2K1>@C); 0;L<>=B .. «$>A8=:0»; 0@B> A.JI. «'5E0;8», «/ 7=0N, GB> =04>
?@84C<0BL» (?> 2K1>@C); 5@5AB>2 .. «A:0;>G:0»; ;038=8=0 .. «>648:,
4>648:...», «#>A848< 2 B8H8=5» (?> 2K1>@C); @NA> /.«>;K15;L=0O»; C=8= . .
«8AB>?04» (>B@K2>:); 0<07:>20 . «>;K15;L=0O 4;O 101CH:8»; 5@=5B !. 8 )0@G5=L 2:CA=K9 ?8@>3»; A5=8= %.. «#>5B 78<0 - 0C:05B...»; 0E>45@ ..
«>;G>:», «8A:8=> 3>@5» (?> 2K1>@C); CH0: ..!. «%>@>: A>@>:»; C:0H8=0 .
«$>7>2K5 >G:8», 0@H0: %./. «0306», «#@> 2A5 =0 A25B5», «>B :0:>9 @0AA5O==K9»,
« OG», «'A0BK9-?>;>A0BK9», «#>3@0=8G=8:8» (1-2 ?> 2K1>@C); 0B25520 !. «"=0 C<55B
?@52@0I0BLAO»; 0O:>2A:89 .. «+B> B0:>5 E>@>H> 8 GB> B0:>5 ?;>E>?»; 8E0;:>2 %..
« GB> C 0A?», «$8AC=>:», «O4O %B5?0 - <8;8F8>=5@» (1-2 ?> 2K1>@C); >@8F ..#.
«#5A5=:0 ?@> A:07:C», «>< 3=><0, 3=>< - 4><0!», «"3@><=K9 A>10G89 A5:@5B» (1-2 ?>
2K1>@C); >H:>2A:0O -.-. «>1560;8 4> 25G5@0»; "@;>20 . «!525@>OB=> 4;8==0O
8AB>@8O ?@> B0:AC»; #CH:8= .%. « 5AOF, <5AOF...» (87 «%:07:8 > <5@B2>9 F0@52=5...»),
«' ;C:><>@LO...» (87 2ABC?;5=8O : ?>M<5 «$CA;0= 8 N4<8;0»), «'6 =51> >A5=LN
4KH0;>...» (87 @><0=0 «235=89 "=538=) (?> 2K1>@C); %0?38@ .. «%04>2=8:»; %5@>20 .
«#>E20;8;8»; %5D $.%. «!0 A25B5 2A5 =0 2A5 ?>E>65...», «+C4>» (?> 2K1>@C); &>:<0:>20
.#. «2K», «%>A=K», «#;8<», «45 A?8B @K1:0?» (?> 2K1>@C); &>;AB>9 ..
«>;>:>;LG8:8 <>8»; 'A0G52 . «K1@0; ?0?0 U;>G:C»; 'A?5=A:89 -.!. «$073@><»; (5B
.. « 0<0! ;O=L-:0 87 >:>H:0...»; )0@@8O», «3@0» (?>
2K1>@C); +5@=K9 %. «#@8AB020;:0»; +C:>2A:89 .. «#CB0=8F0», «0:0;O:0», «$04>ABL»,
«&0@0:0=8I5» (?> 2K1>@C).
#@>70. 1@0648:», «0: C 709G>=:0 7C1 1>;5;» (?> 2K1>@C);
5@5AB>2 .. «0: =09B8 4>@>6:C»; 80=:8 .. «#>4:84KH», «8A 8 =>:»,
«#5@20O >E>B0», «5A=>9 :>;>1>: - :>;NG89 1>:» (1-2 @0AA:070 ?> 2K1>@C); 5@5A052 ..
«@0B8H:0»; >@>=8= %.. «>8=AB25==K9 0:>»; >@>=:>20 .(. «0: ;5=:0 @0718;0
75@:0;>» (87 :=838 «%>;=5G=K9 45=5:»); <8B@852 .. «%8=89 H0;0H8:»; @03C=A:89
... «"= 682>9 8 A25B8BAO...», «&09=>5 AB0=>28BAO O2=K<» (?> 2K1>@C); >I5=:> . .
«#>:070B5;L=K9 @51U=>:», «;C?0O 8AB>@8O» (?> 2K1>@C); >20;L ... «54, 1010 8
;5H0»; >7;>2 %.. «!5>1K:=>25==0O 25A=0», «&0:>5 45@52>» (?> 2K1>@C); !>A>2 !.!.
«0?;0B:0», «0B59=8:8»; #@8H28=
. . «$51OB0 8 CBOB0», «C@:0» (?> 2K1>@C);
%0E0@=>2 %.. «B> ?@OG5BAO ;CGH5 2A5E?»; %;04:>2 !.. «!5A;CE»; %CB552 ..
« KH>=>: 8 :0@0=40H»; &09F /. . «#> ?>OA», «A5 745AL» (?> 2K1>@C); &>;AB>9 JI.H.
«%>10:0 H;0 ?> 4>I5G:5...», «)>B5;0 30;:0 ?8BL...», «#@0240 2A53> 4>@>65», «0:0O
1K205B @>A0 =0 B@025», «"B5F ?@8:070; AK=>2LO<...» (1-2 ?> 2K1>@C); 'H8=A:89 ..
«0AB>G:0»; *KD5@>2 . . « <542560G89 G0A»; +0@CH8= .. «&N?0, &><:0 8 A>@>:0»
(1-2 @0AA:070 ?> 2K1>@C).
("# " - 03

106

8B5@0BC@=K5 A:07:8. >@L:89 . «>@>1L8H:>»; 0<8=-%818@O: .!. «%:07:0 ?@>
><0@0 ><0@>28G0 - ;8==K9 !>A 8 ?@>
>E=0B>3>
8HC - >@>B:89 )2>AB»;
>A:28=0 .. «+B> A;CG8;>AL A :@>:>48;><»; %5D $.%. «%:07:0 > :@C3;5=L:8E 8
4;8==5=L:8E G5;>25G:0E»; +C:>2A:89 .. «&5;5D>=», «&0@0:0=8I5», «(54>@8=> 3>@5»,
«91>;8B 8 2>@>159» (1-2 @0AA:070 ?> 2K1>@C). #@>872545=8O ?>MB>2 8 ?8A0B5;59 @07=KE
AB@0=.
#>M78O. 65E20 /. «;59», ?5@. A ?>;LA:. . 0E>45@; @C18= (. «%;57K», ?5@. A G5H.
. %>;>=>28G0; 28B:> . . «01CH:8=K @C:8» (?5@. A 52@. &. %?5=480@>2>9); $09=8A /.
«!0?5@53>=:8», ?5@. A ;0BKH. . 578=>20; &C28< .. «+C45A0», ?5@. A ?>;LA:. .
#@8E>4L:>; «#@> ?0=0 &@C;O;8=A:>3>», ?5@5A:07 A ?>;LA:. . 0E>45@0; «"2>I8», ?5@. A
?>;LA:. %. 8E0;:>20.
8B5@0BC@=K5 A:07:8. 0;8=B . «=>< =>
2K1>@C), ?5@. A 25=3. . 591CB8=0; >=0;L4A>= . «@CDD0;>», «)>GC : <0<5» (?5@. .
>@>48F:>9) (?> 2K1>@C); 202>9); =3025A
. « 8H:0 @C=>» (?5@. ". OM>BA); 5@@ . « OC;8. AB>@88 87 687=8 C4828B5;L=>9
:>H:8» (?5@. . @>9B5@ .. « 4><0 ;CGH5!» (?5@. . (5@18:>20);
C3C@ (. «$8;M-5?C@8;M 8 CG>: A 7>;>BK<8 :@K;KH:0<8» (?5@. A @C;O=A:>9); #5== ". «#>F5;C9 2 ;04>H:5» (?5@. . %>@>:8=>9); $>40@8 . «%>10:0,
:>B>@0O =5 C<5;0 ;0OBL» (87 :=838 «%:07:8, C :>B>@KE B@8 :>=F0»), ?5@. A 8B0;. .
>=AB0=B8=>2>9; )>30@B -. « 0D8= 8 53> 25A5;K5 4@C7LO» (1-2 3;02K 87 :=838 ?>
2K1>@C), ?5@. A 0=3;. ". "1@07F>2>9 8 !. ,0=L:>; .E0=A>= . « C;;5 5: 8 CDD0»
(?5@. . 0B>;>:8=>9).
"B 5 4> 6 ;5B.
0;K5 D>@;L:;>@0. 0304:8, =51K;8FK, 4@07=8;:8, AG8B0;:8, ?>A;>28FK,
?>3>2>@:8, 70:;8G:8, =0@>4=K5 ?5A5=:8, ?@810CB:8, A:>@>3>2>@:8.
$CAA:85 =0@>4=K5 A:07:8. «8;-1K; :0@0AL...» (4>:CG=0O A:07:0); «8;8-1K;8 420
1@0BF0...» (4>:CG=0O A:07:0); «0OF-E20ABC=» (>1@01. ".. 0?8FK/ ?5@5A:07 .!.
&>;AB>3>); «@K;0BK9, <>E=0BK9 40 <0A;O=K9» (>1@01.
.. 0@=0CE>2>9); «8A0 8 :C2H8=» (>1@01. ".. 0?8FK); « >@>7:>» (?5@5A:07 .
C;0B>20); «#> ICGL51@01. .!. &>;AB>3>); «%5AB@8F0 ;U=CH:0 8 1@0B5F
20=CH:0» (?5@5A:07 .!. &>;AB>3>); «%82:0-1C@:0» (>1@01. .. C;0B>20/ >1@01. .!.
&>;AB>3>/ ?5@5A:07 .. 'H8=A:>3>); «*0@52=0- ;O3CH:0» (>1@01. .!. &>;AB>3>/ >1@01.
. C;0B>20).
%:07:8 =0@>4>2 <8@0. «>A?>60 5B5;8F0», ?5@5A:07 A =5<. . 2545=A:>3>, ?>4
@540:F859 %./. 0@H0:0, 87 A:07>: 1@0BL52 @8<<; «U;BK9 08AB», ?5@. A :8B. (.
/@;8=0; «;0B>2;0A:0», ?5@. A G5H5:. .. #0CAB>2A:>3>; «5BCG89 :>@01;L», ?5@. A C:@.
. !5G0520; «$0?C=F5;L» ?5@. A =5<. . #5B=8:>20/ ?5@. 8 >1@01. . @E0=35;LA:>9.
("# " - 03
#@>872545=8O
?>MB>2 8 ?8A0B5;59 $>AA88.

107

#>M78O. :8< /.. «048=0»; 0@B> .. «5@U2>G:0», «CA8-;51548», «ABL B0:85
<0;LG8:8», « K =5 70<5B8;8 6C:0» (1-2 AB8E>B2>@5=8O ?> 2K1>@C); >@>48F:0O .
«&5BCH:0 C=0»; C=8= .. «#5@2K9 A=53»; >;:>20 !. «>74CH=K5 70<:8»;
>@>45F:89 %. . «>BU=>:»; O48=0 . «#C3>28G=K9 3>@>4>:»; A5=8= %.. «5@U70»;
0E>45@ .. « >O >>1@078;8O»;
0@H0: %./. «#C45;L»;
>@8F ..#. «><8: A
B@C1>9»; >H:>2A:0O -.-. «0:85 1K20NB ?>40@:8»; #82>20@>20 . . «%>AG8B0BL =5
<>3C»; #CH:8= .%. «' ;C:><>@LO 4C1 75;U=K9....» (>B@K2>: 87 ?>M@F><....» (>B@K2>: 87 «%:07:8 > F0@5 %0;B0=5....» (?>
2K1>@C); %5D $.%. «5A:>=5G=K5 AB8E8»; %8<18@A:0O .. «E0; 4>64L 2 :><0=48@>2:C»;
%B5?0=>2 .. «$>4=K5 ?@>AB>@K»; %C@8:>2 .. «5;K9 A=53 ?CH8ABK9», «8<0»
(>B@K2>:); &>:<0:>20 .#. «"A5==85 ;8ABLO»; &NBG52 (.. «8<0 =540@>< 7;8BAO....»;
'A0G52 . «>;K15;L=0O :=830», « =0< ?@8E>48B !>2K9 3>4»; (5B .. « 0<0, 3;O=L-:0
87 >:>H:0....»; *25B0520 .. «' :@>20B:8»; +U@=K9 %. «>;:»; +C:>2A:89 .. «;:0»;
/A=>2 .. « 8@=0O AG8B0;:0», «8;0-1K;0 A540@:8 4;O ;:8. 8<=OO :=830»
(?> 2K1>@C).
#@>70. :A0:>2 %.&. «%C@:0»; ;<07>2 .. «>@1CH:0»; 0@C748= %.. «5@538B5
A2>8 :>AK!», «01@0:>20==K9 <8H:0» (?> 2K1>@C); 80=:8 .. «5A=0O 3075B0» (2-3
@0AA:070 ?> 2K1>@C); 0940@ .#. «+C: 8 5:», «#>E>4» (?> 2K1>@C); >;O2:8= .. «
<>30;8», «/7K:», «0: O ?><>30; <0<5 ;», «0:CB0==K9 <0;LG8:» (1-2
@0AA:070 ?> 2K1>@C); <8B@8520 .. « 0;KH 8 CG:0»; @03C=A:89 ... «5=8A:8=K
@0AA:07K» (1-2 @0AA:070 ?> 2K1>@C);
>A:28=0
.. «@>E0»; !>A>2 !.!. «820O
H;O?0», «@C6>:», «!0 3>@:5» (?> 2K1>@C); #0=B5;552 . «C:20 &/»; #0CAB>2A:89 ..
«>B-2>@N30»; #>3>48= $.#. «=86:0 ?@> @8H:C» (1-2 @0AA:070 ?> 2K1>@C); #@8H28=
. . «;>B>: <>;>:0», «5;8GLO ?0;10E» (?> 2K1>@C); %8<18@A:0O
.. «0?8=»; %;04:>2 !.. «%5@LU7=0O ?B8F0», «0@;CE0» (?> 2K1>@C); %=538@U2 ./.
«#@> ?8=328=>2» (1-2 @0AA:070 ?> 2K1>@C); &>;AB>9 .!. «>AB>G:0», «>BU=>:» (?>
2K1>@C); 'H8=A:89 .. «+5BK@5 65;0=8O»; (045520 ". «(@>AO - 5;L >1K:=>25==0O»;
,8< -... «#5BCE 8 =0A54:0», «%>;=5G=0O :0?;O» (?> 2K1>@C).
8B5@0BC@=K5 A:07:8. ;5:A0=4@>20 &.. «><>2U=>: C7L:0»; 06>2 #.#.
«%5@51@O=>5 :>?KBF5»; 80=:8 .. «%>20», «0: <>9 A?5H8;»,
«%8=8G:8= :0;5=40@L», « >;>40O 2>@>=0», «)2>ABK», «+59 =>A ;CGH5?», «+L8 MB>
=>38?», «B> G5< ?>UB?», «5A=K5 4><8H:8», «@0A=0O 3>@:0», «C:CH>=>:», «45 @0:8
78 2K1>@C); 0;L .. «%B0@8:-3>4>28:»; @H>2 #.#. «>=U:3>@1C=>:»; 0E>45@ .. «%5@0O 2U74>G:0»; 0B052 .#. «*25B8:- A5<8F25B8:»,
«C4>G:0 8 :C2H8=G8:» (?> 2K1>@C); 0<8=-%818@O: .!. «;U=CH:8=K A:07:8» (1-2
A:07:8 ?> 2K1>@C); 8E09;>2 .. «20
>@>70»; !>A>2 !.!. «>18: 2 3>ABOE C
0@1>A0»; #5B@CH52A:0O .%. «"B B51O >4=8 A;U7K»; #CH:8= .%. «%:07:0 > F0@5
("# "
03
%0;B0=5,
> -AK=5
53> A;02=>< 8 <>3CG5< 1>30BK@5 :=O75 284>=5 %0;B0=>28G5 8 >

108

?@5:@0A=>9 F0@52=5 ;51548», «%:07:0 > 9 F0@52=5 8 > A5<8 1>30BK@OE» (?>
2K1>@C); %0?38@ .. «0: ;O3CH:C ?@>4020;8»; &5;5H>2 !.. «@C?5=8G:0»; 'H8=A:89
.. «%;5?0O ;>H04L»; +C:>2A:89 .. «>:B>@ 91>;8B» (?> <>B820< @><0=0 X.
>DB8=30).
#@>872545=8O ?>MB>2 8 ?8A0B5;59 @07=KE AB@0=.
#>M78O. 65E20 /. «!0 >@87>=BA:8E >AB@>20E» (?5@. A ?>;LA:. .. 0E>45@0); 0;5:
. « C4@5FK» (?5@. A> A;>20F:. $.%. %5D0); 0?CB8:O= %.. « >O 101CH:0» (?5@. A
0@2>9); 0@5< . « 8@=0O AG8B0;:0» (?5@. A D@0=F. .. 5@5AB>20);
%8EE04 . «%04» (?5@. A 075@10946. . EC=4>2>9); %<8B '.. «#@> ;5B0NICN :>@>2C»
(?5@. A 0=3;. .. 0E>45@0); (@>945=15@3 . «5;8:0= 8 @8=F0); +80@48 6. «" B><, C :>3> B@8 3;070» (?5@. A 0=3;. $.%. %5D0).
8B5@0BC@=K5 A:07:8. %:07:8-?>25AB8 (4;O 4;8B5;L=>3> GB5=8O). =45@A5= .).
«"3=82>» (?5@. A 40BA:. . 0=75=), «%28=>?0A» (?5@. A 40BA:. . 0=75=), «N9<>2>G:0»
(?5@. A 40BA:. 8 ?5@5A:07 . 0=75=), «04:89 CBU=>:» (?5@. A 40BA:. . 0=75=, ?5@5A:07 &.
0115 8 . N10@A:>9), «!>2>5 ?;0BL5 :>@>;O» (?5@. A 40BA:. . 0=75=), «$><0H:0» (?5@.
A 40BA:. . 0=75=), «8:85 ;51548» (?5@. A 40BA:. . 0=75=) (1-2 A:07:8 ?> 2K1>@C);
8?;8=3 6. $. «%:07:0 > A;>=U=:5» (?5@. A 0=3;. .. +C:>2A:>3>), «"B:C40 C :8B0 B0:0O
3;>B:0» (?5@. A 0=3;. .. +C:>2A:>3>, AB8E8 2 ?5@. % ./. 0@H0:0) (?> 2K1>@C); >;;>48
. «#8=>::8>. AB>@8O 45@52O==>9 :C:;K» (?5@. A 8B0;. -.. 070:528G0); 035@;UD %.
«+C45A=>5 ?CB5H5AB285 !8;LA0 A 48:8<8 3CAO<8» (2 ?5@5A:075 3. 04C=09A:>9 8 .
N10@A:>9); 8=43@5= . «0@;A>=, :>B>@K9 682UB =0 :@KH5, >?OBL ?@8;5B5;» (?5@. A>
H254. .. C=38=>9); >DB8=3 X. «#CB5H5AB28O 4>:B>@0 C;8BB;0» (?5@. A 0=3;. %.
5I5@O:>20); 8;= .. «8==8-#CE 8 2A5, 2A5, 2A5» (?5@52>4 A 0=3;. .. 0E>45@0);
#@>9A;5@ ". « 0;5=L:0O 010-O30» (?5@. A =5<. .. >@8=F0), « 0;5=L:>5 ?@82845=85»
(?5@. A =5<. .. >@8=F0); $>40@8 . «#@8:;NG5=8O
+8??>;8=>» (?5@. A 8B0;. 3. #>B0?>2>9), «%:07:8, C :>B>@KE B@8 :>=F0» (?5@. A 8B0;.
.. >=AB0=B8=>2>9).
"B 6 4> 7 ;5B.
0;K5 D>@;L:;>@0. 0304:8, =51K;8FK, 4@07=8;:8, AG8B0;:8, ?>A;>28FK,
?>3>2>@:8, 70:;8G:8, =0@>4=K5 ?5A5=:8, ?@810CB:8, A:>@>3>2>@:8.
$CAA:85 =0@>4=K5 A:07:8. «0A8;8A0 #@5:@0A=0O» (87 A1>@=8:0 .!. D0=0AL520);
«56;82K9 >B-2>@:>B» (>1@01. . C;0B>20); «20= *0@528G 8 %5@K9 >;:» (>1@01.
.!. &>;AB>3>); «8<>2L5 725@59» (>1@01. .!. &>;AB>3>); «>I59 5AA<5@B=K9» (2
20@80=B) (87 A1>@=8:0 .!. D0=0AL520); «$8D@87>20==K9 ?5@5A:07 ..
,5@38=0); «%5=>2 - A5B=8:>2» (>1@01. .. 0@=0CE>2>9); «%>;40BA:0O
70304:0» (87 A1>@=8:0 .!. D0=0AL520); «' AB@0E0 3;070 25;8:8» (>1@01. ".. 0?8FK);
«)2>ABK» (>1@01. ".. 0?8FK).
("# " - 03

109

K;8=K. «%04:>» (?5@5A:07 .. 0@=0CE>2>9/ 70?8AL #.!. $K1=8:>20); «>1@K=O 8
<59» (>1@01. !.#. >;?0:>2>9/ ?5@5A:07 .. 0@=0CE>2>9); «;LO C@><5F 8 %>;>259$071>9=8:» (>1@01. .(. 8;LD5@48=30/ ?5@5A:07 .. 0@=0CE>2>9).
%:07:8 =0@>4>2 <8@0. «9>30», =0=09A:., >1@01. . !038H:8=0; «5;O=>G:0 8
$>7>G:0», =5<. 87 A:07>: @. @8<<, ?5@5A:07 .. #>:@>2A:>9; «%0=. . 0@:>2>9; «>;C10O ?B8F0», BC@:<. >1@01. . ;5:A0=4@>2>9 8
. &C15@>2A:>3>; «>B 2 A0?>30E» (?5@. A D@0=F. &. 0115), «>;H51=8F0» (?5@. A D@0=F.
.%. &C@35=520), « 0;LG8: A ?0;LG8:» (?5@. A D@0=F. .. 5EB5@U20), «>;CH:0» (?5@. A
D@0=F. &. 0115) 87 A:07>: #5@@> ,.
#@>872545=8O ?>MB>2 8 ?8A0B5;59 $>AA88.
#>M78O. :8< /.. « >9 25@=K9 G86»; 0;L<>=B .. «%=568=:0»; ;038=8=0 ..
«,8=5;L», «"4C20=G8:», «!0H 454CH:0» (?> 2K1>@C); C=8= .. «8AB>?04»;
;048<8@>2 ... «+C40:8»; 0<70B>2 $.. « >9 454CH:0» (?5@52>4 A 020@A:>3> O7K:0 /.
>7;>2A:>3>), >@>45F:89 %. . «5A5==OO ?5A5=:0»; A5=8= %.. «#>UB 78<0, 0C:05B....»,
«#>@>H0»; C:>2A:89 .. «02>@>=>:»; 528= .. «5;U=0O 8AB>@8O»; 0@H0: %./.
«$0AA:07 > =58725AB=>< 35@>5»; 0O:>2A:89 .. «-B0 :=865G:0 <>O, ?@> <>@O 8 ?@>
<0O:»; >@02A:0O . «?5;LA8==K5 :>@:8»; >H:>2A:0O -.-. «>1560;8 4> 25G5@0»,
«)8B@K5 AB0@CH:8»; !8:8B8= .%. «AB@5G0 782 .!. «>< ?>4 :@KH59
3>;C1>9»; #;OF:>2A:89 .%. «!0AB>OI89 4@C3»; #CH:8= .%. «8<=89 25G5@», «'=K;0O
?>@0! "G59 >G0@>20=L5!..» («"A5=L»), «8<=55 CB@>» (?> 2K1>@C); $C1F>2 !. . «#@>
709F0»; %0?38@ .. «%G8B0;:8», «%:>@>3>2>@:8», «N4>54 8 ?@8=F5AA0, 8;8 AU
=0>1>@>B» (?> 2K1>@C); %5@>20 .. «!>2>3>4=55»; %>;>2LU20 #.%. «#>4A=56=8:», «!>GL
8 45=L»; %B5?0=>2 .. «+B> 48=>9 7>2U:<0:>20 .#. « =5 3@CAB=>», «C40
2 <0H8=0E A=53 257CB» (?> 2K1>@C); &NBG52 (.. «+0@>459:>N 78<>N...», «5A5==OO
3@>70»; 'A?5=A:89 -.!. «#0=L:0E», «>;H51=8:» (?> 2K1>@C).
#@>70. ;5:A552 %.#. «#5@2K9 =>G=>9 B0@0=»; 80=:8 .. «&09=0 =>G=>3> ;5A0»;
>@>1LU2 .. «"1@K2>: ?@>2>40»; >A:>1>9=8:>2 . . «>340 ;5:A0=4@ #CH:8= 1K;
<0;5=L:8<»; 8B:>2 .%. « >@A:85 8AB>@88» (1-2 @0AA:070 ?> 2K1>@C); >I5=:> . .
«$0AA:07K > U;5 8 8=L:5» (1-2 @0AA:070 ?> 2K1>@C); >20;L ... «$CA0G>:-B@02=8:»,
«%B>6>:», «;K9» (?> 2K1>@C); C?@8= .. «%;>=»; 0@BK=>20 ., 0A8;8048 ".
«;:0, :>B 8 !>2K9 3>4»; !>A>2 !.!. «0?;0B:0», «"3C@FK», « 8H:8=0 :0H0» (?>
2K1>@C); 8BO52 .. « 5H>: >2AO=:8»; #>3>48= $.#. «010», «,CB:0» (?> 2K1>@C);
#@8H28=
. . «8A8G:8= E;51», «7>1@5B0B5;L» (?> 2K1>@C); $0:8B8=0 .
«#@8:;NG5=8O =>2>3>4=8E 83@CH5:», «%5@U68:» (?> 2K1>@C); $0A:8= .. «0: ?0?0
1K; <0;5=L:8<» (1-2 @0AA:070 ?> 2K1>@C); %;04:>2 !.. «)8B@NI89 709G8H:0»,
«%8=8G:0 =5>1K:=>25==0O», «#>G5O1@L ?5389» (?> 2K1>@C); %>:>;>2- 8:8B>2 .%.
«8AB>?04=8G5:»; &>;AB>9 .!. «(8;8?>:», «52 8 A>10G:0», «#@K6>:», «:C;0»,
("# " - 03

110

«#>60@=K5 A>10:8» (1-2 @0AA:070 ?> 2K1>@C); (045520 ". « =5 ?8AL<>!»; +0?;8=0 ..
«8=C;8»; ,8< -... «);51 @0AB5B».
8B5@0BC@=K5 A:07:8. 0940@ .#. «%:07:0 > >5==>9 B09=5, >
0;LG8H5810;LG8H5 8 53> B2U@4>< A;>25»; 0@H8= . . «O3CH:0-?CB5H5AB25==8F0»; >7;>2
%.. «0: 68: A 54256>=:>< 72U74K ?@>B8@0;8»; 0@H0: % ./. «25=04F0BL <5AOF52»;
#0CAB>2A:89 .. «&U?;K9 E;51», «@5 2K1>@C); $5<87>2 A.M.
«CA8-;51548», «);51=K9 3>;>A»; %:@518F:89 .. «AO: ?>-A2>5:>;>2- 8:8B>2
.%. «%>;L 5<;8». #@>872545=8O ?>MB>2 8 ?8A0B5;59 @07=KE AB@0=.
#>M78O. @5EB . «8<=89 25G5@ G5@57 D>@B>G:C» (?5@. A =5<. . "@5H8=0); @87
".". «0: A45;0BL CB@> 2>;H51=K<» (?5@. A 52@. &. %?5=480@>2>9); 8@ -. «8<5@8:8»
(?5@. A 0=3;. . @C6:>20); %B0=G52 . «"A5==OO 30<<0» (?5@. A 1>;3. .#. &>:<0:>2>9);
%B825=A>= $.. «KG8B0==K5 AB@0=K» (?5@. A 0=3;. ;.(. )>40A528G0).
8B5@0BC@=K5 A:07:8. %:07:8-?>25AB8 (4;O 4;8B5;L=>3> GB5=8O). =45@A5= .).
«";5-C:>95» (?5@. A 40BA:. . 0=75=), «%>;>259» (?5@. A 40BA:. . 0=75=, ?5@5A:07 &.
0115 8 . N10@A:>9), «%B>9:89 >;>2O==K9 A>;40B8:» (?5@. A 40BA:. . 0=75=, ?5@5A:07
&. 0115 8 . N10@A:>9), «%=56=0O >@>;520» (?5@. A 40BA:. . 0=75=), «$CA0;>G:0»
(?5@. A 40BA:. . 0=75=) (1-2 A:07:8 ?> 2K1>@C); >D<0= -.&.. «-5;:C=G8: 8 @>;L» (?5@. A =5<. . &0B0@8=>2>9); 8?;8=3 6. $. « 0C3;8» (?5@. A 0=3;. !.
0@C75A/. ,CAB>2>9), «>H:0, :>B>@0O 3C;O;0 A0<0 ?> A515» (?5@. A 0=3;. ..
+C:>2A:>3>/!. 0@C75@A); M@@>; . «;8A0 2 AB@0=5 GC45A» (?5@. A 0=3;. !. 52>9,
. @C6:>20, . >G5=:>20, AB8E8 2 ?5@.
%./. 0@H0:0, . "@;>2A:>9, ". %540:>2>9); 8=43@5= . «&@8 ?>25AB8 > 0;KH5 8
0@;A>=5» (?5@. A> H254A:. .. C=38=>9); !C@4:28AB %. «AB>@8O > B><, :0: (8=4CA
?>B5@O;AO, :>340 1K; <0;5=L:8<»; #>BB5@ . «%:07:0 ?@> 65<09:<0:>2>9); $>40@8 6. «#CB5H5AB285 >;C1>9 %B@5;K» (?5@. A 8B0;. ..
@<0G5=:>); &>??5;8CA %. «&@8 @60=KE :>;>A:0» (?5@. A> H254A:. . N10@A:>9); -<5
. «@0A:8» (?5@. A D@0=F. . C7=5F>2>9); /=AA>= &. «,;O?0 2>;H51=8:0» (?5@. A>
H254A:. O7K:0 .. %<8@=>20/. @0C45).
#D<@9DAO= C9D9K9AP @G;O>4?PAOI CDB<;6989A<=.
"B 2 <5AOF52 4> 1 3>40.
%;CH0=85. «5A5;> - 3@CAB=>», 25=0; «0A:>20O ?@>AL10», 20; «%<5;K9 =0574=8:», < =0 ;>H04:5», 20; «>;K15;L=0O», «#5BCH>:», 20; «>;K15;L=0O», 3>->@A0:>20; «#>;L:0», «3@0 2 ;>H04:8», « 0<0», 2A:>3>;
«09G8:», :04>3>.
#>4?520=85. «#5BCH>:», «04CH:8», «45B :>70 @>30B0O», «0NH:8-10N», «"9,
;N;NH:8, ;N;NH:8»; «0?-:0?»; ?@810CB:8, A:>@>3>2>@:8, ?5ABCH:8 8 83@K A ?5=85<.
("# " - 03

111

C7K:0;L=>-@8B<8G5A:85 42865=85. «'AB0;8 =0H8 =>6:8», <>2>9, A;. .
%>:>2=8=>9; « 0;5=L:0O ?>;5G:0», 9, A;. . ,818F:>9; «"9, ;5B0;8
?B8G:8»; «9-40!», 28=F0; «#>574», 20, A;. &. 010460=.
#;OA:8. «09G8:8 8 ;8A8G:0», @>2A:>3>, A;. . =B>=>2>9; «#;OA:0 A
:C:;0<8», =5<. =0@. <5;>48O, A;. . =CD@852>9; «&8E>-B8E> 48O, A;. . =CD@852>9.
"B 1 3>40 4> 1 3>40 6 <5AOF52.
%;CH0=85. «#>;O=:0», @CA. =0@. <5;>48O, >1@01. . (@840; «>;K15;L=0O», ==8:>20; «A:C?0;AO 20=CH:0», @CA. =0@. <5;>48O; «0: C =0H8E C 2>@>B», @CA.
=0@. <5;>48O, >1@01. . K:0=>20; « >BK;5:», «%:07>G:0», 4?520=85. «>H:0», 20, A;. !. (@5=:5;L; «!0H0
5;>G:0», :>2>9; «>18:», ?0B5=:>, A;. !.
!0945=>2>9; «8A0», «O3CH:0», «%>@>:0», «+868:», @CA. =0@. ?>?52:8.
"1@07=K5 C?@06=5=8O. «09:0 8 <8H:0», 9; «45B :>70 @>30B0O»,
@CA. =0@. <5;>48O; «%>10G:0», -@8B<8G5A:85 42865=8O. «,0@8: <>9 3>;C1>9», 9;
« K 845<», 20, A;. .. "AB@>2A:>3>; « 0;5=L:0O :04@8;L», B B0:», 15;>@CA, =0@. <5;>48O (« 8:8B0»), >1@. %. #>;>=A:>3>, A;. .
;5:A0=4@>2A:>9; «.@>G:0», 15;>@CA, ?;OA:0, >1@. . ;5:A0=4@>20; «0, 40, 40!», 9, A;. .. "AB@>2A:>3>.
"B 1 3>40 6 <5AOF52 4> 2 ;5B.
%;CH0=85. «>H04:0», 9, A;. !. (@5=:5;L; «C@>G:8 8 FK?;OB0»,
9; «0;LA A>10G5:», 1>;52A:>9; «&@8 ?>4@C6:8», 3>; «5A5;> - 3@CAB=>», 25=0; « 0@H», :>DL520;
«%?>@B82=K9 <0@H», 3>; «!0H0 &0=O», «'@>=8;8 <8H:C», «45B
1KG>:», 9-,<84B, AB8E8 . 0@B>; « 0B5@8=A:85 ;0A:8», «0;>10»,
«@CAB=0O ?5A5=:0», «0;LA», 20.
#5=85 8 ?>4?520=85. «>48G:0», 9, A;. . ,818F:>9;
«>;K15;L=0O», 9; « 0H5=L:0- 0H0», @CA. =0@. <5;>48O,
>1@01. . 5@G8:, A;. . !525;LHB59=; «>@>159», @CA. =0@. <5;>48O; «C;8», «0N-109»,
«45B ?0@>2>7», «8A0», «#5BCH>:», «%>@>:0», 20.
C7K:0;L=>-@8B<8G5A:85 42865=8O. « 0@H 8 153», 20; «#>ABCG8<
?0;>G:0<8», @CA. =0@. <5;>48O; «C15=», @CA. =0@. <5;>48O, >1@01. . $0CE25@35@0;
«0@010=», 9, A;. !. (@5=:5;L; «>3>=O;:8»,
2>9, A;. &. 010460=, . #;0:84K.
#;OA:0. «>B :0: E>@>H>», ?0B5=:>, A;. ". KA>BA:>9; «>B :0: ?;OH5<»,
15;>@CA, =0@. <5;>48O, >1@. $. $CAB0<>20; «%>;=KH:> A8O5B», A;. 8 9.
("# " - 03

112

"1@07=K5 C?@06=5=8O. «45B <8H:0», 20; «%:0G5B 709:0», @CA. =0@.
<5;>48O, >1@. . ;5:A0=4@>20; «>H04:0», 9; «09G8:8 8 ;8A8G:0»,
@>2A:>3>, A;. . =B>=>2>9; «#B8G:0 ;5B05B», «#B8G:0 :;N5B», G:0», .
3@K A ?5=85<. «09:0», «%>;=KH:>», «45B :>70 @>30B0O», «#5BCH>:», @CA. =0@.
83@K, 20; «09G8:», 20; «>@>1CH:8 8 :>H:0», =5<.
?;OA>20O <5;>48O, A;. . =CD@852>9; «#@>:0B8, ;>H04:0, =0A!», ==8:>20 8 . >7K@52>9, A;. . 8E09;>2>9; « K C<55<», «#@OB:8», <>2>9;
«$07=>F25B=K5 D;06:8», @CA. =0@. <5;>48O.
=AF5=8@>20=85, @CA. =0@. A:07>: («$5?:0», «C@>G:0 $O10»), ?5A5= («#0ABCH>:»,
; «#5B@CH:0 8 >18:», 9), ?>:07 :C:>;L=KE
A?5:B0:;59 («#5B@CH:8=K 4@C7LO», &. 0@0<0=5=:>; «09:0 ?@>ABC48;AO», . CH;
«N1>G:0 8 5U ?><>I=8:8», . >;>1>20; «3@CH:8», . 0@B>). «01>G:8»,
>1K3@K20=85 @CA. =0@. ?>B5H5:, AN@?@87=K5 <><5=BK: «+C45A=K9 <5H>G5:»,
«>;H51=K9 AC=4CG>:», «B> : =0< ?@8H5;?», « ;5AC», 9;
«#@074=8:», « C7K:0;L=K5 8=AB@C<5=BK»,  3 ;5B.
%;CH0=85. «!0H0 ?>3@59; «5A=>N»,
«"A5=LN», 9, A;. !. (@5=:5;L; «>B :0:
9, A;. !. (@5=:5;L; «>H5G:0» (: 83@5
«>H:0 8 :>BOB0»), 2>9; « 8:8B0», 15;>@CA, =0@.
<5;>48O, >1@01. %. #>;>=A:>3>; «#;OA:0 A ?;0B>G:><», 9, A;. .
@0=B>2A:>9; «#>;O=:0», @CA. =0@. <5;>48O, >1@01. . (@840; «'B@>», :>DL52>9.
#5=85. «0N» (:>;K15;L=0O), :>2>9; «>648:», @CA. =0@. <5;>48O, >1@01. . (5@5; «;>G:0», 9, A;.
. C;0B>20; «>H5G:0», 2>9;
«04CH:8», @CA. =0@. <5;>48O; «#B8G:0», ; «%>10G:0»,
<8AA0@>2>9; «*K?;OB0», , A;. &.
>;38=>9; «>;>:>;LG8:», 9.
C7K:0;L=>-@8B<8G5A:85 42865=8O. «>648:», 9;
«>@>1CH:8», «#>3@5?;OH8», «>;>:>;LG8:», «#>3C;O5<», 9; «>B :0: 9, A;. !. (@5=:5;L.
$0AA:07K A 3C;:0», 20.
3@K A ?5=85<. «3@0 A <8H:>9», 2A:>3>; «B> C =0A E>@>H89?», @CA.
("# " - 03
=0@. ?5A=O.

113

C7K:0;L=K5 70102K. «7-70 ;5A0, 87-70 3>@», &. 070:>20; «>B8: 8 :>7;8:», 20=85 ?5A5=. «>H:0 8 :>B5=>:», BA:>9;
«!520;OH:8», 9; > 4 ;5B.
%;CH0=85. «"A5=LN», 20O ?5A5=:0», ;K15;L=0O», 20; « 8H:0 A :C:;>9 ?;OHCB ?>;5G:C»,
9; «09G8:», 2>9; «$572CH:0» 8 «0?@87C;O», ;:>20; «>@>159», 648: 8 @04C30», :>DL520; «%>
2LN=>< O E>6C», @CA. =0@. ?5A=O; «5A=K5 :0@B8=:8», =>20. #5=85.
'?@06=5=8O =0 @0728B85 A;CE0 8 3>;>A0. «N-;N, 109», @CA. =0@. :>;K15;L=0O; «/
84C A F25B0<8», 9, A;. . K<>2>9; « 0<5 C;K105==8:>20, A;. 3. #5B@>2>9; ?5=85 =0@>4=>9 ?>B5H:8 «%>;=KH:>-254@KH:>; 9, A;. !0@>4=K5.
#5A=8. «#5BCH>:» 8 «04CH:8», @CA. =0@. ?5A=8; «09G8:», @CA. =0@. ?5A=O, >1@. !.
>10G520; «8<0», 9, A;. !. (@5=:5;L; «!0H0 5;>G:0», :>2>9; «#@>:0B8, ;>H04:0, =0A», ==8:>20 8 . >7K@52>9, A;. .
8E09;>2>9; « 0<5 ?5A5=:C ?>N», ?0B5=:>, A;. . 2485=:>; «*K?;OB0», , A;. &. >;38=>9.
#5A5==>5 B2>@G5AB2>. «09-109, 109-109», «N-;N, 109», @CA. =0@. :>;K15;L=K5;
«0: B51O 7>2CB?», «%?>9 :>;K15;L=CN», «E BK, :>B5=L:0-:>B>:», @CA. =0@.
:>;K15;L=0O; ?@84C;K15;L=>9 <5;>488 8 ?;OA>2>9 <5;>488.
C7K:0;L=>-@8B<8G5A:85 42865=8O.
3@>2K5 C?@06=5=8O, E>4L10 8 153 ?>4 20;
«%:0GCB ;>H04:8», ?0B5=:>; «,0305< :0: D87:C;LBC@=8:8», <>2>9;
«&>?>BCH:8», 2>9;
?5@5:0BK20=85 4 AB0:>28G0 (20;LA-HCB:0); 153 A E;>?:0<8 ?>4
9; « 542560B0», 2>9; «C:8», 25=35@. =0@.
<5;>48O, >1@01. . 8H:0@520.
3@K. «%>;=KH:> 8 4>648:», ; «9», B>20; «45 ?>3@520; «08=L:0,
2KE>48», 9; «3@0 A :C:;>9», 9; «)>48B 0=O», @CA.
=0@. ?5A=O, >1@. !. 5B;>20.
)>@>2>4K 8 ?;OA:8. «#;OA:0 A ?>3@5=>2>9; «#0;LG8:8
8 @CG:8», @CA. =0@. <5;>48O, >1@01. . $0CE25@35@0; B0=5F A ;8AB>G:0<8 ?>4 @CA. =0@.
?;OA>2CN <5;>48N; «#;OA:0 A ;8AB>G:0<8», 9, A;. . =CD@852>9;
("# " - 03

114

«&0=5F >:>;> 5;:8», 9; B0=5F A ?;0B>G:0<8 ?>4 @CA. =0@.
<5;>48N; «#><8@8;8AL», @59A:>9.
)0@0:B5@=K5 B0=FK. «&0=5F A=568=>:», =0@8:8», 20; «&0=5F 709G8:>2», @CA. =0@. <5;>48O; «KH;8 :C:;K B0=F520BL», -83@>2>3> B2>@G5AB20. «#;OA:0», 20; «09FK»,
9; «5A5;K5 =>6:8», @CA. =0@. <5;>48O, >1@01. 30D>==8:>20;
«>;H51=K5 ?;0B>G:8», @CA. =0@. <5;>48O, >1@01. $. $CAB0<>20.
G;O>4?PAB-8<84>F<9 <7DO.
$0728B85 72C:>2KA>B=>3> A;CE0. «#B8FK 8 ?B5=G8:8», «5A5;K5 <0B@5H:8», «&@8
<54254O».
$0728B85 @8B<8G5A:>3> A;CE0. «B> :0: 845B?», «5A5;K5 4C4>G:8». $0728B85
B5<1@>2>3> 8 48=0<8G5A:>3> A;CE0. «@><:> - B8E>», «'7=09 A2>9 8=AB@C<5=B»;
«>;>:>;LG8:8».
"?@545;5=85 60=@0 8 @0728B85 ?0 45;05B :C:;0?», «'7=09 8 A?>9 ?5A=N
?> :0@B8=:5».
#>4K3@K20=85 =0 45BA:8E C40@=KE 4=K5 <5;>488.
"B 4 ;5B 4> 5 ;5B.
%;CH0=85. «E BK, 15@570», @CA. =0@. ?5A=O; «"A5==OO ?5A5=:0», <0 ?L5A 4;O 45B59» .
%28@84>20); «0;LA A=56=KE E;>?L52» 87 10;5B0 «-5;:C=G8:», 2A:>3>;
«B0;LO=A:0O ?>;L:0», 20; «0: C =0H8E C 2>@>B», @CA. =0@. <5;>48O;
« 0<0», 2A:>3>, «02>@>=>:», :>DL520. #5=85.
'?@06=5=8O =0 @0728B85 A;CE0 8 3>;>A0. «#CB0=8F0» - ?5A=O-HCB:0; 9, A;. . +C:>2A:>3>, «C:CH5G:0», @CA. =0@. ?5A=O, >1@01. . @A5520;
«#0CG>:» 8 «8A>=L:0-=L:0», @CA. =0@. ?5A=8; 70:;8G:8: «"9, :C;8:8! 5A=0
?>5B!» 8 «02>@>=CH:8, ?@8;5B8B5!».
#5A=8. «"A5=L», , A;. &. >;38=>9; «%0=:8», BA:>9; «8<0 ?@>H;0», 20, A;. . ;>:>2>9; «#>40@>: <0<5», , A;. &. >;38=>9; «>@>159», 20; «>648:»,
-@8B<8G5A:85 42865=8O.
3@>2K5 C?@06=5=8O. «#@C68=:8» ?>4 @CA. =0@. <5;>48N; E>4L10 ?>4 « 0@H», 28G; «5A5;K5 4?@K3820=85 8 153), 9; ;8A0 8 709FK
?>4 48B <54254L ?>4 ;L:0»,
B>?05<, ?>:@C684 @CA. =0@.
<5;>488; «#5BCE», <>2>9; «C:;0», :04>3>; «'?@06=5=8O A
("# "
- 034

115

-BN4K-4@0<0B870F88. «0@010=I8:», A5==8E ;8AB>G:>2»,
, A;. . 0:H0=F52>9; «0@010=I8:8», 3> 8 %.
5284>20; «%G8B0;:0», «0B8;>AL O1;>:>», ==8:>20.
)>@>2>4K 8 ?;OA:8. «&>? 8 E;>?», 20- 5B=5@, A;. . 0@30=>2>9;
«&0=5F A ;>6:0<8» ?>4 @CA. =0@. <5;>48N; =>2>3>4=85 E>@>2>4K ?> 2K1>@C
3> @C:>2>48B5;O.
)0@0:B5@=K5 B0=FK. «%=568=:8», 1@01. !. 5B;>20; «&0=5F 709G0B»
?>4 «#>;L:C» . ,B@0CA0; «%=568=:8», <>2>9; «CA8=:8» ?>4 «0;>?» .
C=052A:>3>.
C7K:0;L=K5 83@K. «C@>G:0 8 ?5BCH>:», B>20; « 54254L 8 70OF», 20; «%0<>;5BK», ; «!0948
A515 ?0@C», <>2>9; «09<8 4><8:», .
3@K A ?5=85<. «"3>@>4=0O-E>@>2>4=0O», 66525;>20, A;. . #0AA>2>9;
«CA8, ;51548 8 2>;:», 9, A;. . C;0B>20; « K =0 ;C3 E>48;8», , A;. !. C:;>2A:>9.
#5A5==>5 B2>@G5AB2>. «0: B51O 7>2CB?»; «+B> BK E>G5HL, :>H5G:0?»; «!0H0
?5A5=:0 ?@>AB0O», 20, A;. . 25=A5=; «C@>G:0-@O1CH5G:0», 10G520, A;. !0@>4=K5.
$0728B85 B0=F520;L=>-83@>2>3> B2>@G5AB20. «>H04:0», B>;>2A:>3>;
«09G8:8», «!0A54:0 8 FK?;OB0», «>@>159», <>2>9; «"9, E<5;L <>9, E<5;5:»,
@CA. =0@. <5;>48O, >1@01. . $0CE25@35@0; «C:;0», :04>3>;
« 542560B0», -4840:B8G5A:85 83@K.
$0728B85 72C:>2KA>B=>3> A;CE0. «#B8FK 8 ?B5=G8:8», «0G5;8». $0728B85
@8B<8G5A:>3> A;CE0. «#5BCH>:, :C@>G:0 8 FK?;5=>:», «B> :0: 845B?», «5A5;K5
4C4>G:8»; «%K3@09, :0: O».
$0728B85 B5<1@>2>3> 8 48=0<8G5A:>3> A;CE0. «@><:>-B8E>», «'7=09 A2>9
8=AB@C<5=B»; «'30409, =0 G5< 83@0N». "?@545;5=85 60=@0 8 @0728B85 ?0
45;05B :C:;0?», «'7=09 8 A?>9 ?5A=N ?> :0@B8=:5», « C7K:0;L=K9 <03078=».
3@0 =0 45BA:8E H:0», «!51> A8=55», «=4@592>@>159», 9, A;. . >;8=>20; «%>@>:0-A>@>:0», @CA. =0@. ?@810CB:0,
>1@. &. #>?0B5=:>.
"B 5 ;5B 4> 6 ;5B.
%;CH0=85. «8<0», 2A:>3>, A;. . #;5I5520; «"A5==OO ?5A=O», 87
F8:;0 «@5<5=0 3>40» #. +09:>2A:>3>; «#>;L:0»; 20->2>9; « >O $>AA8O», ;>2L52>9; «5BA:0O ?>;L:0», @>=>:», BK;5:», ;K15;L=0O», 3>->@A0:>20. #5=85.
("# " - 03

116

'?@06=5=8O =0 @0728B85 A;CE0 8 3>;>A0. «>@>=», @CA. =0@. ?5A=O, >1@01. .
&8;8G552>9; «=4@59-2>@>159», @CA. =0@. ?5A=O, >1@. .. %;>=>20; «C15=G8:8»,
«0@<>H:0», 9; «#0@>2>7», «0@010=», 9, A;. !.
!0945=>2>9.
#5A=8. « =0< 3>AB8 ?@8H;8», 20, A;. . 25=A5=; «"3>@>4=0OE>@>2>4=0O», 66525;>20, A;. !. #0AA>2>9; «>;C1K5 A0=:8», @40=A:>3>, A;. . ;>:>2>9; «CA8-3CA5=OB0», 20, A;. . >9:>;
«$K1:0», :>2>9. #5A5==>5 B2>@G5AB2>.
#@>872545=8O. «>;K15;L=0O», @CA. =0@. ?5A=O; « 0@H», 9; #>B5H:8, 4@07=8;:8, AG8B0;:8 8
4@C385 @CA. =0@. ?>?52:8.
C7K:0;L=>-@8B<8G5A:85 42865=8O.
'?@06=5=8O. «,03 8 153», ; «#;02=K5 @C:8»,  ;CGH5 A:0G5B», <>2>9; «$>A8=:8», <>2>9; «0;LA», F0@B0. &0=FK 8 ?;OA:8.
«@C6=K5 ?0@K», ;L:0»); «#@83;0H5=85», @CA. =0@. <5;>48O «5=»,
>1@01. . $0CE25@35@0; «@C3>20O ?;OA:0», @CA. =0@. <5;>48O, >1@. %. $07>@5=>20.
)0@0:B5@=K5 B0=FK. « 0B@5H:8», :@>CA>20; «#;OA:0 #5B@CH5:», «&0=5F
%=53C@>G:8 8 A=568=>:», @>2>4K. «'@>609=0O», , A;. ". >;38=>9; «!>2>3>4=OO
E>@>2>4=0O», H;0 <;040 70 2>4>9», @CA. =0@. ?5A=O, >1@01. .
30D>==8:>20.
C7K:0;L=K5 83@K.
3@K. «!5 2K?CAB8<», <>2>9; «C4L ;>2:848O, >1@01. &. #>?0B5=:>.
3@K A ?5=85<. «>;?0G>:», «>@>=», @CA. =0@. ?5A=8; «08=L:0», @CA. =0@. ?5A=O,
>1@01. !. $83>->@A0:>20; «0: =0 B>=5=L:89 ;54>:», @CA. =0@. ?5A=O, >1@01. .
$C1F0.
G;O>4?PAB-8<84>F<9 <7DO.
$0728B85 72C:>2KA>B=>3> A;CE0. « C7K:0;L=>5 ;>B>», «%BC?5=L:8», «45 <>8
45B:8?», « 0<0 8 45B:8». $0728B85 GC2AB20 @8B<0. «"?@545;8 ?> @8B;>A:8», «'G8AL B0=F520BL», «I8».
$0728B85 B5<1@>2>3> A;CE0. «!0 G5< 83@0N?», « C7K:0;L=K5 70304:8»,
« C7K:0;L=K9 4><8:».
("# " - 03480B>=8G5A:>3> A;CE0. «@><:>, B8E> 70?>5<», «25=OI85 :>;>:>;LG8:8».
$0728B85

117

$0728B85 2>A?@8OB8O 9 ?0», « C7K:0;L=K9 <03078=», «@5<5=0 3>40», «!0H8 ?5A=8».
=AF5=8@>2:8 8 48O,
>1@01.
. >@40=A:>3>; « >O ;N18<0O :C:;0», 02B>@ &. >@5=520; «#>;O=:0»
(@59A:>9.
$0728B85 B0=F520;L=>-83@>2>3> B2>@G5AB20 «/ ?>;N, ?>;N ;C:», 9;
«0;LA :>H:8», ;>B0@520; «>@8, 3>@8 OA=>!», @CA. =0@. <5;>48O, >1@01. $.
$CAB0<>20; « O ?> ;C3C», @CA. =0@. <5;>48O, >1@01. &. %<8@=>2>9.
3@0 =0 45BA:8E =-4>=», @CA. =0@. ?5A=O, >1@01. $.
$CAB0<>20; «>@8, 3>@8 OA=>!», @CA. =0@. <5;>48O; ««+0A8:8», ;LD5=7>=0.
"B 6 ;5B 4> 7 ;5B.
%;CH0=85. «>;K15;L=0O», F0@B0; «"A5=L» (87 F8:;0 «@5<5=0 3>40» .
820;L48); «":BO1@L» (87 F8:;0 «@5<5=0 3>40» #. +09:>2A:>3>); «5BA:0O ?>;L:0», @5», «5;:0», 3>->@A0:>20 (87 >?5@K «%:07:0 > F0@5
%0;B0=5»); «B0;LO=A:0O ?>;L:0», 20; «&0=5F A A01;O<8», 3>->@A0:>20 (87 >?5@K «%=53C@>G:0»);
«$0AA25B =0 >A:25-@5:5», @3A:>3> (2ABC?;5=85 : >?5@5 «)>20=I8=0»).
#5=85.
'?@06=5=8O =0 @0728B85 A;CE0 8 3>;>A0. «C15=G8:8», «!0H 4><», «C4:0»,
«C:CH5G:0», 9, A;. . >;8=>20; « H:>;C», 9, A;.
. >;8=>20; «>BO-:>B>:», «>;K15;L=0O», «>@>H8=0», 9; «0G5;8»,
9, A;. . >;8=>20.
#5A=8. «8AB>?04», ?0B5=:>, A;. . 2485=:>; «4@02AB2C9, $>48=0 <>O!»,
20, A;. . 1@O520; «8<=OO ?5A5=:0», 9; «;:0», 9, A;. . ,<0=>2>9; A;. 3. #5B@>2>9; «%0<0O
E>@>H0O», 20, A;. ". (04552>9; «)>@>H> C =0A 2 A04C», 2>3>4=89 E>@>2>4», ?0B5=:>; «!>2>3>4=OO E>@>2>4=0O»,
 101CH:C»,  A2840=LO, 45BA:89
A04», =>20, A;. . 0;:>20; « K B5?5@L CG5=8:8», 154K»,  >A:25», 20.
#5A5==>5 B2>@G5AB2>. «5A5;0O ?5A5=:0», @>20;
«#;OA>20O», <>2>9; «5A=>9», -@8B<8G5A:85 42865=8O
'?@06=5=8O. « 0@H», 15@0; «53», «*25B=K5 D;06:8», 9; «B> ;CGH5 A:0G5B?», «,030NB 452>G:8 8 <0;LG8:8», ;>B0@520;
?>4=8<09 8 A:@5I8209 D;06:8 («-BN4», ;>A:0BL ?;0B>G:8: «"9,
CBCH:0 ;C3>20O», @CA. =0@. <5;>48O, >1@01. &. ><>2>9; «'?@06=5=85 A :C18:0<8», A=8=0.

118

-BN4K. « 542548 ?;OHCB», :07K209 =0?@02;5=85 (« 0@H», 3>); :0640O ?0@0 ?;OH5B ?>-A2>548O);
«#>?@K3C=LO», «O3CH:8 8 08ABK», @=K9 B0=5F», ;>B0@520; «#>;L:0», A5=:>;
«0;LA», 20; «/1;>G:>», 48O, >1@01. &. ><>2>9; «%C40@CH:0», @CA. =0@. <5;>48O, >1@01.
.. %;>=>20.
)0@0:B5@=K5 B0=FK. «&0=5F A=568=>:», 4 : ?;OA:5
<542560B», =>20, A;. . !5:@0A>2>9.
)>@>2>4K. «K94C ;L O =0 @5G5=L:C», @CA. =0@. ?5A=O, >1@01. . 20==8:>20; «!0
3>@5-B> :0;8=0», @CA. =0@. <5;>48O, >1@01. . !>28:>20.
C7K:0;L=K5 83@K.
3@K. >B 8 <>2>9; «B> A:>@59?», 3@5AA57»; «#>574:0», «#0ABCE 8 :>7;OB0», @CA. =0@.
?5A=O, >1@01. . &@CB>2A:>3>.
3@K A ?5=85<. «#;5B5=L», @CA. =0@. <5;>48O «%5O;8 452CH:8», >1@. . 8H:>;
«'7=09 ?> 3>;>AC», 20 («#L5A0»); «&5@5<>:», @CA. =0@. ?5A=O; « 5B5;8F0»,
«"9, 2AB020;0 O @0=5H5=L:>», @CA. =0@. ?5A=8; «I8», <>2>9; «%> 2LN=>< O
E>6C», @CA. =0@. ?5A=O, >1@01. . @5G0=8=>20; «%02:0 8 @8H:0», 15;>@CA, =0@. ?5A=O.
G;O>4?PAB-8<84>F<9 <7DO.
$0728B85 72C:>2KA>B=>3> A;CE0. «&@8 ?>@>A5=:0», «#>4C<09, >B30409», «2C:8
@07=K5 1K20NB», «5A5;K5 #5B@CH:8».
$0728B85 GC2AB20 @8B<0. «#@>3C;:0 2 ?0@:», «K?>;=8 7040=85», «"?@545;8 ?>
@8B2>3> A;CE0. «'30409, =0 G5< 83@0N», «$0AA:07 3>
8=AB@C<5=B0», « C7K:0;L=K9 4><8:».
$0728B85 480B>=8G5A:>3> A;CE0. «@><:>-B8E> 70?>5<», «25=OI85 :>;>:>;LG8:8,
8I8».
$0728B85 2>A?@8OB8O 40»,
«!0H8 ;N18872545=8O».
$0728B85 9 ?028 :>78B>@0», «'30409 ?5A=N», «#>2B>@8
<5;>48N», «'7=09 ?@>872545=85».
=AF5=8@>2:8 8 @>B», @CA. =0@. <5;>48O,
>1@. . 30D>==8:>20; «0: =0 B>=5=L:89 ;54>:», @CA. =0@. ?5A=O; «!0 75;5=>< ;C3C»,
@CA. =0@. <5;>48O; «08=L:0, 2KE>48», @CA. =0@. ?5A=O, >1@01. . &8;8G552>9; «>;CH:0»,
02B. &. >@5=520, « CE0-F>:>BCE0» (>?5@0-83@0 ?> <>B820< A:07:8 . +C:>2A:>3>), -83@>2>3> B2>@G5AB20. «#>;L:0», 20; «)>6C O ?>
("# @CA.
" - 03 =0@. ?5A=O, >1@01. . . N1N:; «8<=89 ?@074=8:», :04>3>; «0;LA», 20; «&0G0=:0», 20; «20 ?5BCE0»,
@5=>20; «KH;8 :C:;K B0=F520BL», ;L:0», ;0B2. =0@.
<5;>48O, >1@01. . 8;8=A:>3>; «$CAA:89 ?5@5?;OA», @CA. =0@. ?5A=O, >1@01. . >;:>20.
3@0 =0 45BA:8E H:0», 9, A;. . >;8=>20; «!0H >@:5AB@», 9, A;. .. "AB@>2A:>3>
«!0 75;5=>< ;C3C», «> A04C ;8, 2 >3>@>45», «%>@>:0-A>@>:0», @CA. =0@. <5;>488; «5;:0»
(>B@K2>: 87 >?5@K «%:07:0 > F0@5 %0;B0=5», 3>->@A0:>20); «/ =0 3>@:C
H;0», «> ?>;5 15@570 AB>O;0», @CA. =0@. ?5A=8; « =0< 3>AB8 ?@8H;8», 20; «0;LA», 9.
#D<@9DAO= C9D9K9AP CDB<;6989A<= <;B5D4;GEEF64.
"B 2 4> 3 ;5B.
;;NAB@0F88 : :=830<: .. %CB552 «>@01;8:», «B> A:070; : 8
'B5=>:»; ... 0A=5F>2 : :=835 «>;>1>:», «&5@5<>:».
"B 3 4> 4 ;5B.
;;NAB@0F88 : :=830<: .. +0@CH8= «$0AA:07K > 682>B=KE»; ... 0A=5F>2 :
:=835 .!. &>;AB>3> «&@8 <54254O».
;;NAB@0F88, @5?@>4C:F88 :0@B8=: #.#. >=G0;>2A:89 «;C1=8:0», «%8@5=L 2
:>@78=5»; .%. #5B@>2->4:8= «/1;>:8 =0 :@0A=>< D>=5»; !.!. C:>2 «;:0 2 =0H59
3>AB8=>9»; .. ;8<5=B>2 «C@8F0 A FK?;OB0<8».
"B 4 4> 5 ;5B.
;;NAB@0F88, @5?@>4C:F88 :0@B8=: .. $5?8= «/1;>:8 8 ;8ABLO»; . . 0A=5F>2
«%=53C@>G:0»; .. &@>?8=8= «52>G:0 A :C:;>9»; .. >@B=8:>2 «5A=0 ?@8H;0»;
.!. ><0@>2 «!02>4=5=85»; .. 528B0= «%8@5=L»; ..
0H:>2 «$O18=:0»,
« 0;8=:0».
;;NAB@0F88 : :=830<: .. 515452 : :=835 %./. 0@H0:0 «'A0BK9- ?>;>A0BK9».
"B 5 4> 6 ;5B.
;;NAB@0F88, @5?@>4C:F88 :0@B8=: (.. 0A8;L52 «#5@54 4>645<»; .. $5?8=
«"A5==89 1C:5B»; .. #;0AB>2 «#5@2K9 A=53»; .-. @010@L «(52@0;LA:0O ;07C@L»; . .
CAB>4852 « 0A;5=8F0»; (.. %KG:>2 «0B0=85 A 3>@K 78<>9»; .. 528B0= «5@57>20O
@>I0», «8<>9 2 ;5AC»; &.!. /1;>=A:0O «5A=0»; .&. &8<>D552 «52>G:0 A O3>40<8»;
.. 0H:>2 «!0BN@<>@B. (@C:BK =0 1;N45»; (.#. &>;AB>9 «C:5B F25B>2, 101>G:0 8
?B8G:0»; .. $5?8= «%B@5:>70»; . . 0A=5F>2 «>25@-A0<>;5B».
;;NAB@0F88 : :=830<: ./. 8;818= «%5AB@8F0 ;U=CH:0 8 1@0B5F 20=CH:0»,
«*0@52=0-;O3CH:0», «0A8;8A0 #@5:@0A=0O».
"B 6 4> 7 ;5B.
;;NAB@0F88, @5?@>4C:F88 :0@B8=: .. 528B0= «>;>B0O >A5=L», «"A5==89 45=L.
%>:>;L=8:8», «%B>30», « 0@B», «5A=0. >;LH0O 2>40»; . . 0A=5F>2 «;5=CH:0»,
("# " - 03
«>30BK@8»,
«20= - F0@528G =0 %5@>< 2>;:5», «CA;O@K»; (.. 0A8;L52 «#5@54

120

4>645<»; .. #>;5=>2 «>;>B0O >A5=L»; .(. )@CF:89 «*25BK 8 ?;>4K»; .. ,8H:8=,
.. %028F:89 «'B@> 2 A>A=>2>< ;5AC», .. ,8H:8= «$>6L»; .. C8=468 «5@57>20O
@>I0»; .. #;0AB>2 «5B><», «%5=>:>A»; .%. "AB@>CE>2 «>;>B0O >A5=L», ..
%5@51@O:>20 «0 702B@0:><»; .. %5@>2 «52>G:0 A ?5@A8:0<8»; .%. %B5?0=>2 «0B0=85
=0 0A;5=8FC»; .-. @010@L «8<=55 CB@>»; ..C30G «!0:0=C=5 ?@074=8:0»; ..
%02@0A>2 «@0G8 ?@8;5B5;8», «$0==OO 25A=0»; .(. .>= « 0@B>2A:>5 A>;=F5»; .%.
#5B@>2 - >4:8= «'B@5==89 =0BN@<>@B»; .. 0:>2A:89 «5B8, 153CI85 >B 3@>7K»,
«#>@B@5B 45B59 EC4>6=8:0»; .. @H>2 «A5=8O G8B05B A:07:8 :C:;0<»; .. @C15;L
«*0@52=0-5154L».
;;NAB@0F88 : :=830<: ./. 8;818= « 0@LO >@52=0», «%:07:0 > F0@5 %0;B0=5»,
«%:07:5 > @K10:5 8 @K1:5»; .. ;048<8@A:89 : :=835 .!. &>;AB>9 «#@8:;NG5=8O
C@0B8=>, 8;8 >;>B>9 :;NG8:»; . .$0G52 «&5@5<-B5@5<>:».
#D<@9DAO= C9D9K9AP 4A<@4J4OB 0=8<0F8>==K5 ?@>872545=8O 4;O A>2<5AB=>3> A5<59=>3>
?@>A<>B@0, 15A54 8 >1AC645=89, 8A?>;L7>20=8O 8E M;5<5=B>2 2 >1@07>20B5;L=>< ?@>F5AA5
2 :0G5AB25 8;;NAB@0F89 ?@8@>4=KE, A>F80;L=KE 8 ?A8E>;>38G5A:8E O2;5=89, =>@< 8
?@028; :>=AB@C:B82=>3> 2708<>459AB28O, ?@>O2;5=89 A>?5@56820=8O 8 2708<>?><>I8;
@0AH8@5=8O M<>F8>=0;L=>3> >?KB0 @51U=:0, D>@<8@>20=8O C =53> MAB=>3> >B=>H5=8O : >:@C60NI5;=><5B@06=K5 0=8<0F8>==K5 D8;L<5=4CNBAO B>;L:> 4;O A5<59=>3>
?@>A<>B@0 8 =5 <>3CB 1KBL 2:;NG5=K 2 >1@07>20B5;L=K9 ?@>F5AA "". @5A<>B@0
@51U=:>< F8D@>2>3> 8 <5480 :>=B5=B0 4>;6=> @53C;8@>20BLAO @>48B5;O<8 (70:>==K<8
?@54AB028B5;O<8) 8 A>>B25BAB2>20BL 53> 2>7@0AB=K< 2>7<>6=>ABO<. !5:>B>@K5
0=8<0F8>==K5 ?@>872545=8O B@51CNB >A>1>3> 2=8<0=8O : M<>F8>=0;L=>AB>O=8N
@51U=:0 8 =5 @5:><5=4CNBAO : ?@>A<>B@C 157 >1AC645=8O A> 27@>A;K< ?5@56820=89
@51U=:0. $O4 D8;L<>2 A>45@60B A5@8N >1@07F>2 A>F80;L=> =5>4>1@O52545=8O =0 ?@>BO65=88 4;8B5;L=>3> M:@0==>3> 2@5<5=8, GB> B@51C5B ?@5420@8B5;L=>3>
8 ?>A;54CNI53> >1AC645=8O A 45BL<8.
K1>@ F8D@>2>3> :>=B5=B0, <5480 ?@>4C:F88, 2 B>< G8A;5 0=8<0F8>==KE D8;L<>2,
4>;65= >ACI5AB2;OBLAO 2 A>>B25BAB288 A =>@<0<8, @53C;8@CNI8<8 70I8BC 45B59 >B
8=D>@<0F88, ?@8G8=ONI59 2@54 74>@>2LN 8 @0728B8N 45B59 2 $>AA89A:>9 (545@0F881.
?S 89F9= 8BL>B?PAB7B 6B;D4EF4 (E CSF< ?9F).
=8<0F8>==K9 A5@80; «&8<0 8 &><0», ABC48O «$8:8», @56. .>@8A>20, 84:>2, ".
CA8=, . 0EC@8= 8 4@C385, 2015. (8;L< «#0@>2>78: 87 $><0H:>20», ABC48O
%>N7= >B 29 45:01@O 2010 3. 7 436-(3 «" 70I8B5 45B59 >B 8=D>@<0F88, ?@8G8=ONI59 2@54 8E 74>@>2LN 8 @0728B8N» (%>1@0=85
("# " - 03
70:>=>40B5;LAB20 $>AA89A:>9 (545@0F88, 2011, 7 1, AB. 48; 2021, 7 27, AB. 5092).

1

121

(8;L< «0: ;L25=>: 8 G5@5?0E0 ?5;8 ?5A=N», ABC48O %>N720;52A:0O, 1974.
(8;L< « 0<0 4;O <0<>=B5=:0», ABC48O «%>N7:», ABC48O «%>N720;52A:0O, 1970.
(8;L< « 5H>: O1;>:», ABC48O «%>N7@478;>2A:89, 1974.
(8;L< «@>H:0 5=>B», &" «-:@0=», @568AA5@ ". +C@:8=, 1974. (8;L< «04:89
CB5=>:», ABC48O «%>N7B5=>: ?> 8<5=8
02», ABC48O %>N72.
(8;L< « 0C3;8», ABC48O «%>N72, 1971. (8;L<
«>B 5>?>;L4», ABC48O «-:@0=», @568AA5@ . $57=8:>2, 1975 - 1987. (8;L< «$8::8&8::8-&028», ABC48O «%>N7-;>F:>9, 1965.
(8;L< «N9<>2>G:0», ABC48O «%>N720O 2>@>=0», &" «-:@0=», @568AA5@ . &0B0@A:89, 1981. (8;L<
«0=8:C;K >=8D0F8O», ABC48O «%>N7A;54=89 ;5?5AB>:», ABC48O «%>N72,
1977.
(8;L< «'<:0» 8 «'<:0 8I5B 4@C30», ABC48O «%>N7?>2, . #5:0@L, 1969, 1970.
(8;L< «'<:0 =0 U;:5», ABC48O «%>N7@>1L52,
2019.
(8;L< «%;04:0O A:07:0», ABC48O %>N72 «+51C@0H:0 8 :@>:>48; 5=0», ABC48O «%>N72, 1969-1983.
*8:; D8;L<>2 «38 ?>?C3052», ABC48O «%>N72 «8==8-#CE», ABC48O «%>N7N7;:>2=8:>2, 1948.
(8;L< «>;CH:0», ABC48O «%>N72>3>4=OO A:07:0», ABC48O «%>N75 :>?KBF5», ABC48O %>N7:>;LA:89,
1977.
(8;L<
«-5;:C=G8:», ABC48O «%>N7N72- 0=>, .
%=56:>-;>F:0O, 1949.
*8:; D8;L<>2 «#@8:;NG5=85 !57=09:8 8 53> 4@C759», ABC48O «&" -:@0=»,
@568AA5@ :>;;5:B82 02B>@>2, 1971-1973.
33.4.2. ;O 45B59 AB0@H53> 4>H:>;L=>3> 2>7@0AB0 (6-7 ;5B). (8;L< « 0;KH 8
0@;A>=», ABC48O «%>N7N7B5=>G:8=, . &@CA>2, 1965.
(8;L< «0@56:0», ABC48O «%>N72, 1967. (8;L<
«+5AB=>5 A;>2>», ABC48O «-:@0=», @568AA5@ . !>2>3@C4A:0O, 1978. (8;L< «>2:0 2
B@8452OB>< F0@AB25», ABC48O «%>N7;4>20==K9 <0;LG8:», ABC48O «%>N7-;>F:0O, .#>;:>2=8:>2, 1955.
(8;L< «>;>B0O 0=B8;>?0», ABC48O «%>N72,
1954.
(8;L< «@5<5=A:85 N720;52A:0O, 1969.
(8;L< «25=04F0BL <5AOF52», ABC48O «%>N720=>, . >B>2, 1956.
(8;L< «68: 2 BC<0=5», ABC48O «%>N7@HB59=,
1975.
(8;L< «52>G:0 8 45;LD8=», ABC48O «%>N7N7?
>2. 1975.
(8;L< «%:07:0 A:07>:», ABC48O «%>N7@HB59=,
1979.
(8;L< %5@80; «#@>AB>:20H8=>» 8 «>72@0I5=85 2 #@>AB>:20H8=>» (2 A57>=0),
ABC48O «%>N7;;5:B82 02B>@>2, 2018.
%5@80; «%<5H0@8:8», ABC488 «#5B5@1C@3», « 0AB5@D8;L<», :>;;5:B82 02B>@>2,
2004.
%5@80; « 0;KH0@8:8», ABC488 «#5B5@1C@3», « 0AB5@D8;L<», :>;;5:B82 02B>@>2,
2015.
%5@80; «><>25=>: C7O», ABC48O &" «-:@0=», @568AA5@ . O1;8:>20, 2000-2002.
("# " - «!C,
03
%5@80;
?>3>48!», ABC48O «%>N7B5=>G:8=,

123

1969.
%5@80; «(8:A8:8» (4 A57>=0), :>?;0=», @568AA5@ . 54>H28;8,
2010.
%5@80; «"@0=6520O :>@>20» (1 A57>=), ABC48O %>N720.
%5@80; « >=A8:8» (2 A57>=0), ABC48O «$8:8», @568AA5@ . 0EC@8=.
%5@80; «%<5H0@8:8. #!-"», ABC48O «$8:8», @568AAU@K: $. %>:>;>2, .
>@1C=>2, . %C;59<0=>2 8 4@C385.
%5@80; «51@0 2 :;5B>G:C» (1 A57>=), ABC48O «%>N7@8A>20, . C;8:>2, . >;>B0@520, 2020.
33.4.3. ;O 45B59 AB0@H53> 4>H:>;L=>3> 2>7@0AB0 (7- 8 ;5B).
#>;=><5B@06=K9
0=8<0F8>==K9
D8;L<
«%=56=0O
:>@>;520»,
ABC48O
«%>N72, 1957.
#>;=><5B@06=K9
0=8<0F8>==K9
D8;L<
«;5=L:89
F25B>G5:»,
ABC48O
«%>N72, 1952.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «%:07:0 > F0@5 %0;B0=5», ABC48O
«%>N72-0=>, . 8;LG8=, 1984.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «5;:0 8 %B@5;:0. 2U74=K5 A>10:8»,
:8=>ABC48O «*5=B@ =0F8>=0;L=>3> D8;L<0» 8 """ «*!(-=8<0, @568AA5@ %. 'H0:>2,
. 2;0==8:>20, 2010.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «%C2>@>2: 25;8:>5 ?CB5H5AB285» (6+),
ABC48O «%>N72, 2022.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «5<18», ABC48O Walt Disney, @568AA5@ .
)M=4, 1942.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «>@>;L 52», ABC48O Walt Disney,
@568AA5@ $. ;;5@A, 1994, %,.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< « >9 A>A54 &>B>@>», ABC48O «Ghibli»,
@568AA5@ X. 8O470:8,1988.
#>;=><5B@06=K9 0=8<0F8>==K9 D8;L< «$K1:0 #>=L> =0 CB5A5», ABC48O «Ghibli»,
@568AA5@ X. 8O470:8, 2008.

("# " - 03

124

4.1.5. 48DB6O9 GE?B6;8G5AB2> ?5403>3>2- :>@?CA «C@02CH:0» 20 G5;>25:,
:>@?CA «5A=0O ?>;O=0»-23G5;>25:0
%B0@H8E 2>A?8B0B5;59-2 G5;>25:0.
C7K:0;L=KE @C:>2>48B5;59-4 G5;>25:0.
=AB@C:B>@>2 ?> D878G5A:>9 :C;LBC@5-3 G5;>25:0
#5403>3>2-?A8E>;>3>2-2 G5;>25:0
'G8B5;59-;>3>?54>2-1 G5;>25:
4.2. #D<@9DAO= D9:<@ < D4ECBDS8B> 8AS 6 8BL>B?PAOI 7DGCC4I.
4.2.1. $568< 4=O ?@54CA<0B@8205B @0F8>=0;L=>5 G5@54>20=85 >B@57:>2
A=0 8 1>4@AB2>20=8O 2 A>>B25BAB288 A D878>;>38G5A:8<8 >1>A=>20=8O<8,
>15A?5G8205B E>@>H55 A0<>GC2AB285 8 0:B82=>ABL @51U=:0, ?@54C?@56405B
CB><;O5<>ABL 8 ?5@52>71C645=85. $568< 8 @0A?>@O4>: 4=O CAB0=02;820NBAO A
CGUB>< B@51>20=89 %0=#8! 1.2.3685-21, CA;>289 @50;870F88 ?@>3@0<B@51=>AB59
CG0AB=8:>2
>1@07>20B5;L=KE
>B=>H5=89.
"A=>2=K<8
:>=5=B0<8 @568<0 2 "" O2;ONBAO: A>=, ?@51K20=85 =0 >B:@KB>< 2>74CE5
(?@>3C;:0), >1@07>20B5;L=0O 45OB5;L=>ABL, 83@>20O 45OB5;L=>ABL 8 >B4KE ?>
A>1AB25==>@C (A0<>AB>OB5;L=0O 45OB5;L=>ABL), ?@85< ?8I8, ;8G=0O
38385=0. %>45@60=85 8 4;8B5;L=>ABL :064>3> :>=5=B0, 0 B0:65 8E @>;L 2
>?@545;5==K5 2>7@0AB=K5 ?5@8>4K 70:>=><5@=> 87<5=ONBAO, ?@8>1@5B0O =>2K5
E0@0:B5@=K5 G5@BK 8 >A>15==>AB8. 5B8, A>1;N40NI85 @568< 4=O, 1>;55
C@02=>25H5=K 8 @01>B>A?>A>1=K, C =8E ?>AB5?5==> 2K@010BK20NBAO
>?@545;5==K5 18>@8B2=KE @5D;5:A>2, GB> ?><>305B >@30=87;>38G5A:8 ?5@5:;NG0BLAO <564C B5<8 8;8 8=K<8 2840<8
45OB5;L=>AB8, A2>52@5<5==> ?>43>B02;820BLAO : :064>3C;:5, 70=OB8O<, >B4KEC. !0@CH5=85 @568<0 >B@8F0B5;L=> A:07K205BAO =0
=5@2=>9 A8AB5<5 45B59: >=8 AB0=>2OBAO 2O;K<8 8;8, =0>1>@>B, 2>71C645==K<8,
=0G8=0NB :0?@87=8G0BL, B5@ONB 0??5B8B, ?;>E> 70AK?0NB 8 A?OB 15A?>:>9=>.
$568< 4=O 381:89 , >4=0:> =587<5==K< >AB05BAO 2@515A?5G5=85 =5>1E>48<>9 4;8B5;L=>AB8
ACB>G=>3> A=0, 2@5BE>40 :> A=C; ?@>2545=85 5654=52=>9 ?@>3C;:8.
4.2.2. #@8 >@30=870F88 @568<0 A;54C5B ?@54CA<0B@8205BAO
>?B8<0;L=>5 G5@54>20=85 A0<>AB>OB5;L=>9 45BA:>9 45OB5;L=>AB8 8
>@30=87>20==KE D>@< @01>BK A 45BL<8, :>;;5:B82=KE 8 8=48284C0;L=KE 83@,
4>AB0B>G=CN 42830B5;L=CN 0:B82=>ABL @51U=:0 2 B5G5=85 4=O, >15A?5G820BL
A>G5B0=85 C9 8 D878G5A:>9 =03@C7:8. @51@07>20B5;L=>9
45OB5;L=>AB8 >@30=87C5BAO B0:8< >1@07><, GB>1K 2=0G0;5 ?@>2>48;8AL
=081>;55 =0AKI5==K5 ?> A>45@60=8N 284K 45OB5;L=>AB8, A2O70==K5 A
C9 0:B82=>ABLN 45B59, <0:A8<0;L=>9 8E ?@>872>;L=>ABLN, 0 70B5<
("# " - 03

125

B2>@G5A:85 284K 45OB5;L=>AB8 2 G5@54>20=88 A 9 8 D878G5A:>9
0:B82=>ABLN. #@>4>;68B5;L=>ABL 4=52=>9 AC<<0@=>9 >1@07>20B5;L=>9
=03@C7:8 4;O 45B59 4>H:>;L=>3> 2>7@0AB0, CA;>28O >@30=870F88
>1@07>20B5;L=>3>
?@>F5AA0
4>;6=K
A>>B25BAB2>20BL
B@51>20=8O<,
?@54CA<>B@5==K< %0=#8! 1.2.3685-21 8 %# 2.4.3648-20.
4.2.3.
$568< 4=O AB@>8BAO A CGUB>< A57>==KE 87<5=5=89.  B5?;K9
?5@8>4 3>40 C25;8G8205BAO 5654=52=0O 4;8B5;L=>ABL ?@51K20=8O 45B59 =0
A2565< 2>74CE5, >1@07>20B5;L=0O 45OB5;L=>ABL ?5@5=>A8BAO =0 ?@>3C;:C
(?@8 =0;8G88 CA;>289). %>3;0A=> %0=#8! 1.2.3685-21 ?@8 B574CE0 =865 <8=CA 15 °% 8 A:>@>AB8 25B@0 1>;55 7 4>;68B5;L=>ABL
?@>3C;:8 4;O 45B59 4> 7 ;5B A>:@0I0NB. #@8 >ACI5AB2;5=88 @568<=KE
<><5=B>2 =5>1E>48<> CG8BK20BL B0:65 8=48284C0;L=K5 >A>15==>AB8
@51U=:0 (4;8B5;L=>ABL A=0, 2:CA>2K5 ?@54?>GB5=8O, E0@0:B5@, B5AB8 8 B0: 40;55).
4.2.4. $568< ?8B0=8O 7028A8B >B 4;8B5;L=>AB8 ?@51K20=8O 45B59 2 ""
8 @53C;8@C5BAO %0=#8! 2.3/2.4.3590-20.
4.2.5. %>3;0A=> %0=#8! 1.2.3685-21 "" @568< 4=O A:>@@5:B8@>20=,
GB> =5 ?@>B82>@5G8B B@51>20=8O< ("# ".
&@51>20=8O 8 ?>:070B5;8 >@30=870F88 >1@07>20B5;L=>3> ?@>F5AA0 8 @568<0 4=O
(A<.B01;8FK)

("# " - 03

126

#>:070B5;L

>7@0AB

!>@<0B82

&@51>20=8O : >@30=870F88 >1@07>20B5;L=>3> ?@>F5AA0
!0G0;> 70=OB89 =5 @0=55

2A5 2>7@0ABK

8.00

":>=G0=85 70=OB89, =5 ?>74=55

2A5 2>7@0ABK

17.00

#@>4>;68B5;L=>ABL 70=OB8O 4;O 45B59 >B 1,5 4> 3 ;5B
4>H:>;L=>3> 2>7@0AB0, =5 1>;55
>B 3 4> 4 ;5B
>B 4 4> 5 ;5B
>B 5 4> 6 ;5B
>B 6 4> 7 ;5B
#@>4>;68B5;L=>ABL 4=52=>9
AC<<0@=>9 >1@07>20B5;L=>9 =03@C7:8
4;O 45B59 4>H:>;L=>3> 2>7@0AB0, =5
1>;55

>B 1,5 4> 3 ;5B
>B 3 4> 4 ;5B
>B 4 4> 5 ;5B
>B 5 4> 6 ;5B

>B 6 4> 7 ;5B

10 <8=CB
15 <8=CB
20 <8=CB
25 <8=CB
30 <8=CB
20 <8=CB
30 <8=CB
40 <8=CB
50 <8=CB 8;8 75 <8=CB
?@8 >@30=870F88 1 70=OB8O
?>A;5 4=52=>3> A=0
90 <8=CB

#@>4>;68B5;L=>ABL ?5@5@K2>2 <564C 2A5 2>7@0ABK
70=OB8O<8, =5 <5=55

10 <8=CB

4;O 2A5 2>7@0ABK

2-E <8=CB

#5@5@K2 2> 2@5:070B5;8 >@30=870F88 @568<0 4=O
#@>4>;68B5;L=>ABL =>G=>3> A=0 =5
<5=55

1-3 3>40
4-7 ;5B

12 G0A>2
11 G0A>2

#@>4>;68B5;L=>ABL 4=52=>3> A=0, =5
<5=55

1-3 3>40
4-7 ;5B

3 G0A0
2,5 G0A0

#@>4>;68B5;L=>ABL ?@>3C;>:, =5
<5=55

4;O 45B59 4> 7 ;5B

3 G0A0 2 45=L

%C<<0@=K9 >1J5< 42830B5;L=>9
0:B82=>AB8, =5 <5=55

2A5 2>7@0ABK

'B@5==89 ?>4J5<, =5 @0=55

2A5 2>7@0ABK

'B@5==OO 70@O4:0,
?@>4>;68B5;L=>ABL, =5 <5=55

84
>@30=870F88

>H:>;L=K5
>@30=870F88,
>@30=870F88
?> CE>4C 8
?@8A<>B@C

("# " - 03

4> 7 ;5B

1 G0A 2 45=L

7 G 00 <8=CB

10 <8=CB

>;8G5AB2> >1O70B5;L=KE ?@85<>2 ?8I8
#@>4>;68B5;L=>ABL,
;81> 2@5645=8O
@51U=:0 2 >@30=870F88
4> 5 G0A>2

2 ?@85<0 ?8I8 (?@85?@545;ONBAO
D0:B8G5A:8< 2@5<5=5< =0E>645=8O 2
>@30=870F88)

8-10 G0A>2

702B@0:, 2B>@>9 702B@0:, >154 8 ?>;4=8:

11-12 G0A>2

702B@0:, 2B>@>9 702B@0:, >154, ?>;4=8: 8 C68=

:@C3;>ACB>G=>

702B@0:, 2B>@>9 702B@0:, >154, ?>;4=8:, C68=,
2B>@>9 C68=

128

$568< A=0, 1>4@AB2>20=8O 8 :>@<;5=8O 45B59 >B 0 4> 1 3>40.
>7@0AB

>@<;5=85

>4@AB2>20=85

=52=>9 A>=

:>;8G5AB2> 8=B5@20; G0A. 4;8B5;L=>ABL G0A. :>;8G5AB2>
?5@8>4>2

4;8B5;L=>ABL
G0A.

1-3 <5A.

7

3

1-1,5

4

1,5-2

3-6 <5A.

6

3,5

1,5-2

3-4

1,5-2

6-9 <5A.

5

4

2-2,5

3

1,5-2

9-12 <5A.

4-5

4-4,5

2,5-3

2

2-2,5

.
%>3;0A=> ?C=:BC 2.10 %# 2.4.3648-20 : >@30=870F88 >1@07>20B5;L=>3> ?@>F5AA0 8
@568<0 4=O 4>;6=K A>1;N40BLAO A;54CNI85 B@51>20=8O:
@568< 42830B5;L=>9 0:B82=>AB8 45B59 2 B5G5=85 4=O >@30=87C5BAO A CGUB><
2>7@0AB=KE >A>15==>AB59 8 A>AB>O=8O 74>@>2LO;
?@8 >@30=870F88 >1@07>20B5;L=>9 45OB5;L=>AB8 ?@54CA<0B@8205BAO 22545=85 2 @568<
4=O D87:C;LB<8=CB>: 2> 2@515A?5G8205BAO :>=B@>;L 70
>A0=:>9, 2 B>< G8A;5, 2> 2@520=8O 8 8A?>;L7>20=8O M;5:B@>==KE A@54AB2
>1CG5=8O;
D87:C;LBC@=K5, D87:C;LBC@=>->74>@>28B5;L=K5 <5@>?@8OB8O, <0AA>2K5 A?>@B82=K5
<5@>?@8OB8O, BC@8ABA:85 ?>E>4K, A?>@B82=K5 A>@52=>20=8O >@30=87CNBAO A CGUB><
2>7@0AB0, D878G5A:>9 ?>43>B>2;5==>AB8 8 A>AB>O=8O 74>@>2LO 45B59. "" >15A?5G8205B
?@8ACBAB285 <548F8=A:8E @01>B=8:>2 =0 A?>@B82=KE A>@52=>20=8OE 8 =0 70=OB8OE 2
?;020B5;L=KE 10AA59=0E;
2>7<>6=>ABL ?@>2545=8O 70=OB89 D878G5A:>9 :C;LBC@>9 8 A?>@B>< =0 >B:@KB><
2>74CE5, 0 B0:65 ?>4286=KE 83@, >?@545;O5BAO ?> A>2>:C?=>AB8 ?>:070B5;59
<5B5>@>;>38G5A:8E CA;>289 (B5B=>A8B5;L=>9 2;06=>AB8 8 A:>@>AB8 42865=8O
2>74CE0) ?> :;8<0B8G5A:8< 7>=0<.  4>64;82K5, 25B@5=K5 8 <>@>7=K5 4=8 70=OB8O
D878G5A:>9 :C;LBC@>9 4>;6=K ?@>2>48BLAO 2 70;5.

("# " - 03

129

(989D4?PAO= >4?9A84DAO= C?4A 6BEC:04K 5=8=3@040; 5=L >A2>1>645=8O @0A=>9 0@<859
:@C?=59H53> «;035@O A<5@B8» CH28F-8@:5=0C ("A25=F8<0) - 5=L ?0;>:>AB0 (@5:><5=4C5BAO 2:;NG0BL 2 ?;0= 2>A?8B0B5;L=>9 @01>BK A 4>H:>;L=8:0<8
@538>=0;L=> 8/8;8 A8BC0B82=>).
(52@0;L:
2 D52@0;O: 5=L @073@><0 A>25BA:8<8 2>9A:0<8 =5<5F:>-D0H8ABA:8E 2>9A: 2
%B0;8=3@04A:>9 18B25 (@5:><5=4C5BAO 2:;NG0BL 2 ?;0= 2>A?8B0B5;L=>9 @01>BK A
4>H:>;L=8:0<8 @538>=0;L=> 8/8;8 A8BC0B82=>);
8 D52@0;O: 5=L @>AA89A:>9 =0C:8;
15 D52@0;O: 5=L ?0 @>AA8O=0E, 8A?>;=O2H8E A;C651=K9 4>;3 70 ?@545;0<8
"B5G5AB20;
21 D52@0;O: 564C=0@>4=K9 45=L @>4=>3> O7K:0;
23 D52@0;O: 5=L 70I8B=8:0 "B5G5AB20.
0@B:
8 <0@B0: 564C=0@>4=K9 65=A:89 45=L;
18 <0@B0: 5=L 2>AA>548=5=8O @K<0 A $>AA859 (@5:><5=4C5BAO 2:;NG0BL 2 ?;0=
2>A?8B0B5;L=>9 @01>BK A 4>H:>;L=8:0<8 @538>=0;L=> 8/8;8 A8BC0B82=>);
27 <0@B0: A5<8@=K9 45=L B50B@0.
?@5;L:
12 0?@5;O: 5=L :>A<>=02B8:8; 09:
1 <0O: #@074=8: 5A=K 8 &@C40;
9 <0O: 5=L #>154K;
19 <0O: 5=L 45BA:8E >1I5AB25==KE >@30=870F89 $>AA88;
24 <0O: 5=L A;02O=A:>9 ?8AL<5==>AB8 8 :C;LBC@K.
N=L:
1 8N=O: 5=L 70I8BK 45B59; 6
8N=O: 5=L @CAA:>3> O7K:0; 12
8N=O: 5=L $>AA88;
22 8N=O: 5=L ?0@18.
N;L:
8 8N;O: 5=L A5AB8.
23CAB:
12 023CAB0: 5=L D87:C;LBC@=8:0;
22 023CAB0: 5=L >AC40@AB25==>3> D;030 $>AA89A:>9 (545@0F88;
27 023CAB0: 5=L @>AA89A:>3> :8=>.
%5=BO1@L:
("# " - 03

130

1 A5=BO1@O: 5=L 7=0=89;
3 A5=BO1@O: 5=L >:>=G0=8O B>@>9 <8@>2>9 2>9=K, 5=L A>;840@=>AB8 2 1>@L15 A
B5@@>@87<><;
8 A5=BO1@O:

564C=0@>4=K9 45=L @0A?@>AB@0=5=8O 3@0<>B=>AB8; 27 A5=BO1@O: 5=L
2>A?8B0B5;O 8 2A5E 4>H:>;L=KE @01>B=8:>2.

":BO1@L:
1 >:BO1@O: 564C=0@>4=K9 45=L ?>68;KE ;N459; 564C=0@>4=K9 45=L :BO1@O: 5=L 70I8BK 682>B=KE;
5 >:BO1@O: 5=L CG8B5;O;
&@5BL5 2>A:@5A5=L5 >:BO1@O: 5=L >BF0 2 $>AA88. !>O1@L:
4 =>O1@O: 5=L =0@>4=>3> 548=AB20;
8 =>O1@O: 5=L ?0381H8E ?@8 8A?>;=5=88 A;C651=KE >1O70==>AB59
A>B@C4=8:>2 >@30=>2 2=CB@5==8E 45; $>AA88;
#>A;54=55 2>A:@5A5=L5 =>O1@O: 5=L <0B5@8 2 $>AA88;
30 =>O1@O: 5=L >AC40@AB25==>3> 35@10 $>AA89A:>9 (545@0F88. 5:01@L:
3 45:01@O: 5=L =58725AB=>3> A>;40B0;
564C=0@>4=K9 45=L 8=20;84>2
(@5:><5=4C5BAO 2:;NG0BL 2 ?;0= 2>A?8B0B5;L=>9 @01>BK A 4>H:>;L=8:0<8 @538>=0;L=>
8/8;8 A8BC0B82=>);
5 45:01@O: 5=L 4>1@>2>;LF0 (2>;>=B5@0) 2 $>AA88;
8 45:01@O: 564C=0@>4=K9 45=L EC4>6=8:0;
9 45:01@O: 5=L 5@>52 "B5G5AB20;
12 45:01@O: 5=L >=AB8BCF88 $>AA89A:>9 (545@0F88;
31 45:01@O: !>2K9 3>4.

4.4.#9DEC9>F<6O D45BFO CB EB69DL9AEF6B64A48DB6OI, 25@H5=AB2>20=8O =>@<0B82=KE 8 =0CG=>-<5B>48G5A:8E @5AC@A>2,
<0B5@80;L=>- B5E=8G5A:>9 107K 70?;0=8@>20=0 A;54CNI0O @01>B0:
-2=5A5=85 :>@@5:B82>2 2 #@>3@0<ABC?0NI8<8 @5:><5=40F8O<8,
87<5=5=8O<8 2 ;>:0;L=>-=>@<0B82=KE 0:B0E (545@0F88, @0O, < <=5=8O ?@54AB028B5;59 @>48B5;LA:>9 >1I5AB25==>AB8.
-2=5A5=85 87<5=5=89 2 @0745; ?> :>@@5:F8>==>9 45OB5;L=>AB8 2 A2O78 A
87<5=5=8O<8 =>@<0B82=>-<5B>48G5A:8E @5:><5=40F89, :@8B5@852 <>=8B>@8=30
:0G5AB20 4>H:>;L=>3> >1@07>20=8O.
-@0728B85 :04@>2KE @5AC@A>2.
-@0728B85 A5B52>3> 2708<>459AB28O A F5;LN MDD5:B82=>9 @50;870F88 #@>3@0<445@6:8 A5<59 2>A?8B0==8:>2.

("# " - 03

79
#D<= E48 7 1 «GD46GL>4» (IB?B8AO= C9DABL

" 
1 #>4J5<, CB@5==89 BC0;5B
 &%" %'
2 #@8U< 8 >A<>B@, A0<>AB>OB5;L=0O
45OB5;L=>ABL (83@K)
3 'B@5==OO 38<=0AB8:0

5

%0<>AB>OB5;L=0O 45OB5;L=>ABL (?>43>B>2:0
: 702B@0:C)
02B@0:

6

'B@5==89 :@C3

6

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : !")

7

!"

8

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : !", : ?@>3C;:5-@0==89
2>7@0AB)
!"*

4

9
10

B>@>9 702B@0:. #>43>B>2:0 : ?@>3C;:5

11

!"*

12

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : ?@>3C;:5)
#@>3C;:0

13
14

15

%0<>AB>OB5;L=0O 45OB5;L=>ABL (2>72@0I5=85
A ?@>3C;:8, ;8G=0O 38385=0,
?>43>B>2:0 : >154C)
"154

#5@20O 3@C??0
@0==53> 2>7@0AB0
(1,6-2;.)-4> 10<8=

B>@0O 3@C??0
@0==53> 2>7@0AB0
(2-3;.)-10<8=

;04H0O3@C??0
(3-4;.)-15<8=

%@54=OO3@C??0
(4-5;.)-20<8=

%B0@H0O3@C??0
(5-6;.)-25<8=

#>43>B>28B5;L=0O
3@C??0
(6-7;.)-30<8=

6.30 3 7.30

6.30 3 7.30

6.30 3 7.30

6.30 3 7.30

6.30 3 7.30

6.30 3 7.30

7.00 3 7.55

7.00 3 7.55

7.00 3 8.00

7.00 3 8.00

7.00 3 8.00

7.00 3 8.00

7.45 3 7.55

7.45-7.55

7.55-8.05

7.55-8.05

7.55-8.05

7.55 3 8.05

8.05-8.15

8.05-8.15

8.05 - 8.20

8.05 3 8.20

8.153 8.30

8.15 3 8.30

8.20 3 8.35

8.20 3 8.35

8.30-8.40

8.30-8.40

8.35-8.45

8.35-8.45

8.00-8.10
(=0 C;8F5)
8.10-8.20

8.00-8.10
(=0 C;8F5)
8.10-8.20

8.20 3 9.00

8.20 3 9.00

8.40-9.00

8.40-9.00

8.45-9.00

8.45 3 9.00

#5@20O ?>43@C??0
9.00-9.10
B>@0O ?>43@C??0
9.20-9.30
9.30-9.40

9.00-9.10

9.00-9.15

9.00-9.20

9.00-9.25

9.00-9.30

9.10.9.15

9.15-9.25

9.20-9.30

9.25-9.35

9.30-9.40

9.25-9.40

9.30-9.50

9.35-10.00

9.40-10.10

9.40-9.50

9.15-9.25

9.40-9.50

9.50-10.00

10.00 3 10.05

10.10-10.15

9.50 310.00

9.253 9.35

9.50-10.00

10.00-10.15

10.05 3 10.50

10.15-10.25

10.00-11.20

9.35-11.20

10.00-11.45

10.15-11.45

10.50-11.50

10.25-11.55

11.20 311.30

11.20 3 11.30

11.45--12.00

11.45 3 12.00

11.50 3 12.00

11.55 3 12.00

11.30 3 11.50

11.30 3 11.50

12.00-12.20

12.00 3 12.20

12.00 -12.20

12.00 3 12.20

131
79

16
17
18

19
20
21

22
23
23
24

25
26

%0<>AB>OB5;L=0O 45OB5;L=>ABL (?>43>B>2:0
:> A=C)
%>=
%0<>AB>OB5;L=0O 45OB5;L=>ABL
(?>AB5?5==K9 ?>4J5<, 70:0;820NI85
?@>F54C@K, ?>43>B>2:0 : ?>;4=8:C)
#>;4=8:
%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
>1I5=85)
!"*

11.50 - 12.00

11.50 - 12.00

12.203 12.30

12.203 12.30

12.20-12.30

12.20-12.30

12.00-15.00

12.00-15.00

12.30-15.00

12.30-15.00

12.30-15.00

12.30-15.00

15.00 3 15.10

15.00 3 15.10

15.00-15.20

15.00 3 15.20

15.00 3 15.20

15.00 3 15.20

15.10 3 15.25

15.10 3 15.25

15.20 3 15.40

15.20 3 15.40

15.20 - 15.40

15.20 - 15.30

15.25-15.30

15.40-15.50

15.40-15.50

15.40-15.50

15.30-15.40

80

15.25-15.35
(1 ?>43@C??0)
15.45-15.55
(2 ?>43@C??0)
15.55-16.10

15.30-15.40

15.40-15.55

15.50-16.00

15.50-16.00

15.50-16.00

16.10-16.20

16.10-17.00

15.55-17.00

16.00-17.00

16.00-17.00

16.00-17.00

16.20-17.00

17.00-17.10

17.00-17.10

17.00-17.10

17.00-17.10

17.00-17.10

17.00 3 17.15

17.10-17.25
17.25 3 17.40

17.10-17.25
17.25 3 17.40

17.10-17.25
17.25 3 17.40

17.10-17.25
17.25 3 17.35

17.10-17.25
17.25-17.35

17.15-17.40
17.40-17.50

17.40-19.00

17.40-19.00

17.40-19.00

17.35-19.00

17.35-19.00

17.50-19.00

#DB8B?:<

3 K4E4 20 @AB>OB5;L=0O 45OB5;L=>ABL (83@K)
#>43>B>2:0 : ?@>3C;:5
5G5@=OO ?@>3C;:0
!"*(>@30=87>20==0O 45BA:0O
45OB5;L=>ABL, 70=OB8O A> A?5F80;8AB0<8)
%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
;8G=0O 38385=0, ?>43>B>2:0 : C68=C)
5G5@=89 :@C3
'68=
%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : 2KE>4C =0 ?@>3C;:C)
#@>3C;:0 ?5@5E>4 CE>4>< 4><>9, CE>4

15.40-16.10

" 

* E9D98B7B I4D4>F9D4 CDB6B8SFES H<;>G?PFGDAO9 @< (2-3 @4J5<, CB@5==89 BC0;5B
 &%" %'
2 #@8U< 8 >A<>B@, A0<>AB>OB5;L=0O
45OB5;L=>ABL (83@K) (=0 C;8F5)
3 'B@5==OO 38<=0AB8:0 (=0 C;8F5)
4 %0<>AB>OB5;L=0O 45OB5;L=>ABL (?>43>B>2:0
: 702B@0:C)
5 02B@0:

"'
81 9FE><= E48 7 1 «GD46GL>4» (F9C?O= C9DAB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : ?@>3C;:5)

8.30 3 9.00

8.30 3 9.00

8.55 3 9.10

8.55-9.15

7

%>2<5AB=0O 45OB5;L=>ABL, ?@>3C;:0

9.00 3 10.00

9.00 3 10.05

9.10- 10.10

9.15- 10.15

9.15 - 10.20

9.15-10.25

8

B>@>9 702B@0:

10.00 3 10.10

10.05 3 10.15

10.10-10.20

10.15-10.25

10.20 3 10.30

10.25-10.35

9

#@>3C;:0 (A0<>AB>OB5;L=0 45OB5;L=>ABL,
83@K)
%0<>AB>OB5;L=0O 45OB5;L=>ABL (2>72@0I5=85
A ?@>3C;:8, ;8G=0O 38385=0,
?>43>B>2:0 : >154C)
"154
%0<>AB>OB5;L=0O 45OB5;L=>ABL (?>43>B>2:0
:> A=C)
%>=

10.10 311.00

10.15- 11.10

10.20-11.45

10.25-11.50

10.30 3 11.55

10.35 3 11.55

11.00 311.20

11.10 3 11.20

11.45-12.00

11.50 3 12.00

11.553 12.00

11.55 3 12.00

11.20 3 11.50
11.50 - 12.00

11.20 3 11.50
11.50 - 12.00

12.00 3 12.20
12.203 12.30

12.00 3 12.20
12.203 12.30

12.00 -12.20
12.203 12.30

12.00 3 12.20
12.203 12.30

10

11
12
13
14

15
16
17
18
19

12.00-15.00

12.00-15.00

12.30-15.00

12.30-15.00

12.30-15.00

12.30-15.00

%0<>AB>OB5;L=0O 45OB5;L=>ABL
(?>AB5?5==K9 ?>4J5<, 70:0;820NI85
?@>F54C@K, ?>43>B>2:0 : ?>;4=8:C, 83@K)
#>;4=8:

15.00 3 15.15

15.00 3 15.20

15.00-15.25

15.00 3 15.30

15.00 3 15.35

15.00 3 15.40

15.15 3 15.30

15.20 3 15.35

15.25 3 15.40

15.30 3 15.40

15.35 - 15.45

15.40- 15.50

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : ?@>3C;:5)
%>2<5AB=0O 45OB5;L=>ABL (83@K), ?@>3C;:0

15.30 3 15.45

15.35 3 15.50

15.40 - 15.50

15.40-15.50

15.45-15.55

15.50 - 16.00

15.45-16.50

15.50-16.55

15.50 3 16.55

15.50 3 17.00

15.55 3 17.05

16.00 3 17.05

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
;8G=0O 38385=0, ?>43>B>2:0 : C68=C)
'68=

16.50 - 17.00

16.55-17.05

16.55-17.05

17.00-17.10

17.05 3 17.15

17.05 3 17.15

17.00 - 17.20

17.05-17.25

17.05-17.25

17.10-17.25

17.15-17.30

17.15-17.30

133

81

20

%0<>AB>OB5;L=0O 45OB5;L=>ABL (83@K,
?>43>B>2:0 : 2KE>4C =0 ?@>3C;:C)

17.20 - 17.30 82

17.25 - 17.35

17.25 3 17.35

17.25 3 17.35

17.30 - 17.40 17.30-17.40

#@>3C;:0 ?5@5E>4 CE>4>< 4><>9, CE>4

17.30-19.00

17.35-19.00

17.35-19.00

17.35-19.00

17.40 -19.00 17.40-19.00

" 
21

#@>3C;:0

19.00 3 20.00

19.00 -20.00

19.00 3 20.00

19.00 3 20.15

19.00 3 20.15

19.00 3 20.15

22

>72@0I5=85 A ?@>3C;:8, A?>:>9=K5 83@K,
38385=8G5A:85 ?@>F54C@K

20.00 3 20.30

20.00 3 20.30

20.00 3 20.30

20.15 3 20.45

20.15 3 20.45

20.15 3 21.00

23

':;04K20=85, =>G=>9 A>=

20.30 3 6.30

20.30 3 6.30

20.303 6.30

20.45 3 6.30

#DB8B?:4>;68B5;L=>ABL ?@>3C;:8

4 G0A0

4 G0A0

4 G0A0

2 K4E430@4S CD9;9AF4J20B5;L=0O ?@>3@0<< (40;55 #@>3@0<<0) 3> 02B>=><=>3>
4>H:>;L=>3> >1@07>20B5;L=>3> CG@5645=8O 5BA:89 A04 7 1 «C@02CH:0»
(40;55
"' 5BA:89 A04 7 1 «C@02CH:0»)- @07@01>B0=0 =0 >A=>25
>=AB8BCF88 $( 8 70:>=>40B5;LAB20 $(, A CG5B>< >=25=F88 ""! > ?@020E
@515=:0, 2 A>>B25BAB288 A B@51>20=8O<8 8 A>45@60=85< ("% " 8 ("# ".
"1O70B5;L=0O G0ABL ?@>3@0<>B25BAB2C5B ("# " 8 >D>@<;5=0 2 2845
AAK;>: =0 =5U, GB> A>AB02;O5B =5 <5=55 60% >1I53> >1JU<0 #@>3@0<@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89, A>AB02;O5B =5 1>;55
40% 8 >@85=B8@>20=0 =0 A?5F8D8:C @538>=0;L=KE, A>F8>:C;LBC@=KE,
=0F8>=0;L=KE CA;>289, 2 :>B>@KE >ACI5AB2;O5BAO >1@07>20B5;L=0O
45OB5;L=>ABL.
!>@<0B82=>9 107>9 4;O A>AB02;5=8O #@>3@0<= >B 29 45:01@O 2012 7 273-( «"1 >1@07>20=88 2
$>AA89A:>9 (545@0F88»;
-(545@0;L=K9 3>AC40@AB25==K9 >1@07>20B5;L=K9 AB0=40@B 4>H:>;L=>3>
>1@07>20=8O, CB25@64U==K9 ?@8:07><
8=8AB5@AB20 >1@07>20=8O 8 =0C:8
$>AA89A:>9 (545@0F88 >B 17 >:BO1@O 2013 3. 7 1155 (70@538AB@8@>20=
8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 14 =>O1@O 2013 3.,
@538AB@0F8>==K9 7 30384), A 87<5=5=85<, 2=5A5==K< ?@8:07>< 8=8AB5@AB20
?@>A25I5=8O $>AA89A:>9 (545@0F88 >B 21 O=20@O .2019 3. 7 31
(70@538AB@8@>20= 8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 13 D52@0;O
2019 3., @538AB@0F8>==K9 7 53776).
- #@8:07 8=?@>A25I5=8O $>AA88 >B 25.11.2022 71028 «"1 CB25@645=88
D545@0;L=>9 >1@07>20B5;L=>9 ?@>3@0<H:>;L=>3> >1@07>20=8O»
(70@538AB@8@>20= 8=8AB5@AB2>< NAB8F88 $>AA89A:>9 (545@0F88 28 45:01@O
2022 3>40, @538AB@0F8>==K9 7 71847);
- #@8:07 8=?@>A25I5=8O $>AA88 >B 31.07.2020 N 373 «"1 CB25@645=88
#>@O4:0 >@30=870F88 8 >ACI5AB2;5=8O >1@07>20B5;L=>9 45OB5;L=>AB8 ?>
>A=>2=K< >1I5>1@07>20B5;L=K< ?@>3@0<<0 3 >1@07>20B5;L=K< ?@>3@0<<0
4>H:>;L=>3> >1@07>20=8O»;
- %# 2.4.3648-20 «%0=8B0@=>-M?845<8>;>38G5A:85 B@51>20=8O :
>@30=870F8O< 2>A?8B0=8O 8 >1CG5=8O, >B4KE0 8 >74>@>2;5=8O 45B59 8
<>;>4568», CB25@645==K<8 ?>AB0=>2;5=85< ;02=>3> A0=8B0@=>3> 2@0G0 $( >B
28.09.2020 7 28, %0=#8! 1.2.3685-21 «8385=8G5A:85 =>@<0B82K 8 B@51>20=8O :
>15A?5G5=8N 157>?0A=>AB8 8 (8;8) 1572@54=>AB8 4;O G5;>25:0 D0:B>@>2 A@54K
>18B0=8O», CB25@645==K<8 ?>AB0=>2;5=85< ;02=>3> A0=8B0@=>3> 2@0G0 $(;
-'AB02 "' 5BA:89 A04 7 1 «C@02CH:0», CB25@645==K9 ?@8:07><
'?@02;5=8O >1@07>20=8O 04<8=8AB@0F88 +09:>2A:>3> 3>@>4A:>3> >:@C30 >B
27.08.2019 7 07-01-05-542.
"A=>2=0O >1@07>20B5;L=0O ?@>3@0<<0
"' 5BA:89 A04 7 1
«C@02CH:0» =0?@02;5=0 =0 @50;870F8N :;NG52KE DC=:F89 4>H:>;L=>3>
C@>2=O >1@07>20=8O:

84
136

ø
ø
ø
ø
ø

1) >1CG5=85 8 2>A?8B0=85 @515=:0 4>H:>;L=>3> 2>7@0AB0 :0: 3@0640=8=0 $(,
D>@<8@>20=85 >A=>2 53> 3@0640=A:>9 8 :C;LBC@=>9 845=B8G=>AB8 =0
A>>B25BAB2CNI5< 53> 2>7@0ABC A>45@60=88 4>ABC?=K<8 A@54AB20<8;
2) A>740=85 548=>3> O4@0 A>45@60=8O 4>H:>;L=>3> >1@07>20=8O,
>@85=B8@>20==>3> =0 ?@8>1I5=8O : B@048F8>==K< 4CE>2=>-=@02AB25==K< 8
A>F8>:C;LBC@=K< F5==>ABO< @>AA89A:>3> =0@>40, 2>A?8B0=85 ?>4@0AB0NI53>
?>:>;5=8O :0: 7=0NI53> 8 C2060NI53> 8AB>@8N 8 :C;LBC@C A2>59 A5;LH>9 8 <0;>9 $>48=K;
3) A>740=85 548=>3> D545@0;L=>3> >1@07>20B5;L=>3> ?@>AB@0=AB20
2>A?8B0=8O 8 >1CG5=8O 45B59 >B @>645=8O 4> ?>ABC?;5=8O 2
>1I5>1@07>20B5;L=CN >@30=870F8N, >15A?5G820NI53> @515=:C 8 53> @>48B5;O<
(70:>==K< ?@54AB028B5;O<) @02=K5, :0G5AB25==K5 CA;>28O 4>H:>;L=>3>
>1@07>20=8O, 2=5 7028A8<>AB8 >B <5AB0 ?@>6820=8O.
!>@<0B82=K9 A@>: >A2>5=8O "# " 3 1 3>4.
$50;870F8O "# " >ACI5AB2;O5BAO 2 B5G5=85 2A53> 2@5<5=8 ?@51K20=8O
45B59 2 45BA:>< A04C. %B@C:BC@0 "# " 2KAB@>5=0 A CG5B>< B@51>20=89 ("%
", ("# " 8 ?>72>;O5B 2845BL ?5@A?5:B82C @0728B8O :0G5AB2 @515=:0, 405B
2>7<>6=>ABL 381:> ?>4E>48BL : 2K1>@C ?@>3@0<<=>3> A>45@60=8O A CG5B><
8=48284C0;L=KE >A>15==>AB59 45B59. %>45@60=85 "# " 2:;NG05B B@8
>A=>2=KE @0745;0: F5;52>9, A>45@60B5;L=K9 8 >@30=870F8>==K9, :064K9 87
:>B>@KE A>AB>8B 87 >1O70B5;L=>9 G0AB8 8 G0AB8, D>@<8@C5<>9 CG0AB=8:0<8
>1@07>20B5;L=KE >B=>H5=89.
*9?96B= D4;89? A>45@68B ?>OA=8B5;L=CN 70?8A:C, F5;L, 7040G8, ?@8=F8?K
@50;870F88 #@>3@0<A2>5=8O #@>3@0<;030=85
#@>3@0<45@60=85 ?> >1@07>20B5;L=K< >1;0ABO< 8 2840< 45OB5;L=>AB8 A CG5B><
2>7@0AB=KE 8 8=48284C0;L=KE >A>A15==>AB59 45B59 45BA:>3> A040. #@>?8A0=K
?@8>@8B5B=K5 AD5@K ?@>O2;5=8O 45BA:>9 8=8F80B82K:
"F 2 @9ESJ96 8B 3 ?9F-%0<>AB>OB5;L=0O 8AA;54>20B5;LA:0O 45OB5;L=>ABL A
?@54<5B0<8, <0B5@8;0<8, 25I5AB20<8, >1>30I5=85 A5=A>@=>3> >?KB0 2>A?@8OB85
>:@C60NI53> <8@0.
"F 3 ?9F 8B 4 ?9F-#@>O2;5=85 45BA:>9 8=8F80B82K, ?@>4C:B82=0O 45OB5;L=>ABL,
83@>20O 45OB5;L=>ABL.
"F 4 ?9F 8B 5 ?9F-#>7=020B5;L=0O 45OB5;L=>ABL, @0AH8@5=85 8=D>@<0F8>==>3>
:@C3>7>@0, 83@>20O 45OB5;L=>ABL.
"F 5 ?9F 8B 6 ?9F-8G=>AB=>5 >1I5=85 A> 27@>A;K<8 8 A25@AB=8:0<8,
8=D>@<0F8>==>-?>7=020B5;L=0O 8=8F80B820.
"F 6 ?9F 8B 7 (8) ?9F-!0CG5=85, @0AH8@5=85 AD5@ A>1AB25==>9 :>AB8 2
@07;8G=KE >1;0ABOE ?@0:B8G5A:>9 ?@54<5B=>9, 2 B>< G8A;5 >@C489=>9
45OB5;L=>AB8, 8=D>@<0F8>==>-?>7=020B5;L=0O 45OB5;L=>ABL.
"A>15==>AB8 =0?@02;5=8O ?>445@6:8 45BA:>9 8=8F8B8K, 2708<>459AB28O
?5403>38G5A:>3> :>;;5:B820 A A5A?8B0==8:>2
 ?. 3.5. %>45@60B5;L=>3> @0745;0 >B@065=0 :>@@5:F8>==>-@072820NI0O
@01>BK, 345 >?8A0=K >1@07>20B5;L=K5 45OB5;L=>AB8 ?> ?@>D5AA8>=0;L=>9
:>@@5:F88 =0@CH5=89 @0728B8O 45B59 8/8;8 8=:;N782=>3> >1@07>20=8O (?@8
=0;8G88 45B59 A ")

85
138

 %>45@60B5;L=K9 @0745; ?.3.6. 2:;NG5=0 #@>30<<0 2>A?8B0=8O
#@>3@0<<0 2>A?8B0=8O O2;O5BAO :>=5=B>< >A=>2=>9 >1@07>20B5;L=>9
?@>3@0<H:>;L=>3> >1@07>20=8O.  A2O78 A MB8 AB@C:BC@0 #@>3@0<A?8B0=8O 2:;NG05B 2 A51O B@8 @0745;0 - F5;52>9, A>45@60B5;L=K9 8
>@30=870F8>==K9, 2 :064>< 87 =8E ?@54CA<0B@8205BAO >1O70B5;L=0O G0ABL 8
G0ABL, D>@<8@C5<0O CG0AB=8:0<8 >1@07>20B5;L=KE >B=>H5=89.
#@>3@0<<0 2>A?8B0=8O =0?@02;5=0 =0 @5H5=85 2>?@>A>2 30@<>=8G=>3>
2E>645=8O 2>A?8B0==8:>2 2 A>F80;L=K9 <8@ 8 =0;06820=8O 2708<>>B=>H5=89 A
>:@C60NI8<8 8E ;N4L<8.
#>4 2>A?8B0=85< ?>=8<05BAO «45OB5;L=>ABL, =0?@02;5==0O =0 @0728B85
;8G=>AB8, A>740=85 CA;>289 4;O A0<>>?@545;5=8O 8 A>F80;870F88 >1CG0NI8EAO
=0 >A=>25 A>F8>:C;LBC@=KE, 4CE>2=>-=@02AB25==KE F5==>AB59 8 ?@8=OBKE 2
@>AA89A:>< >1I5AB25 ?@028; 8 =>@< ?>2545=8O 2 8=B5@5A0E G5;>25:0, A51I5AB20 8 3>AC40@AB20, D>@<8@>20=85 C >1CG0NI8EAO GC2AB20 ?0B@8>B87<0,
3@0640=AB25==>AB8, C2065=8O : ?02 "B5G5AB20 8 ?>42830<
5@>52 "B5G5AB20, 70:>=C 8 ?@02>?>@O4:C, G5;>25:C B@C40 8 AB0@H5:>;5=8N, 2708<=>3> C2065=8O, 15@56=>3> >B=>H5=8O : :C;LBC@=>3>=0F8>=0;L=>3> =0@>40 $>AA89A:>9 (545@0F88,
?@8@>45 8 >:@C60NI59 A@545».
#@>3@0<<0 2>A?8B0=8O =0?@02;5=0 =0 >15A?5G5=85 4>AB865=8O
2>A?8B0==8:0<8 ;8G=>AB=KE @57C;LB0B>2 (F5;52KE >@85=B8@>2), C:070==KE 2
("# " 8 ("% ":
?@>O2;5=85 2>A?8B0==8:0<8 ?0B@8>B87<0, GC2AB20 3@0640=A:>9
?@8=04;56=>AB8 8 A>F80;L=>9 >B25BAB25==>AB8;
- C2068B5;L=>5 >B=>H5=85 2>A?8B0==8:>2 : A>F8>:C;LBC@=K< 8
4CE>2=>- =@02AB25==K< F5==>ABO<, 8AB>@8G5A:8< 8 =0F8>=0;L=>-:C;LBC@=K<
B@048F8O< =0@>4>2 =0H59 AB@0=K;
- >2;045=85 =0G0;L=K<8 7=0=8O<8 > A515, A51I5AB25, 3>AC40@AB25,
<8@5;
- D>@<8@>20=85 A>F80;L=>-7=0G8AB8;
- 0:B82=>5 CG0AB85 2 A>F80;L=>-7=0G8<>9 45OB5;L=>AB8.
#@>3@0<<0 2>A?8B0=8O @07@01>B0=0 A CG5B>< :C;LBC@=>-8AB>@8G5A:8E,
A>F80;L=>-M:>=><8G5A:8E, 45<>3@0D8G5A:8E >A>15==>AB59 @538>=0, 70?@>A0
A5<59 8 4@C38E AC1J5:B>2 >1@07>20B5;L=>3> ?@>F5AA0 8 @50;87C5B
45OB5;L=>AB=K9 ?>4E>4 : 2>A?8B0=8N @515=:0 8 :C;LBC@>;>38G5A:89 ?>4E>4 :
>B1>@C A>45@60=8O >1@07>20=8O.
 >A=>25 ?@>F5AA0 2>A?8B0=8O 45B59 2 "" ;560B :>=AB8BCF8>=0;L=K5 8
=0F8>=0;L=K5 F5==>AB8 @>AA89A:>3> >1I5AB20
*5==>ABL $B8A=>25 ?0B@8>B8G5A:>3> =0?@02;5=8O
2>A?8B0=8O.

86
139

*5==>ABL 59D9:?<6B7B BFABL9A CDA=>25
M:>;>38G5A:>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>AB8 K9?B69>4, E9@P<, 8DG:5O, EBFDG8AA=>25
A>F80;L=>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>ABL ;A4AA=>25 ?>7=020B5;L=>3> =0?@02;5=8O2>A?8B0=8O.
*5==>ABL ;8BDB6PS ;568B 2 >A=>25 D878G5A:>3> 8 >74>@>28B5;L=>3>
=0?@02;5=8O 2>A?8B0=8O.
*5==>ABL FDG84 ;568B 2 >A=>25 B@C4>2>3> =0?@02;5=8O 2>A?8B0=8O.
*5==>AB8 >G?PFGDO < >D4EBFO ;560B 2 >A=>25 MB8:>-MAB5B8G5A:>3>
=0?@02;5=8O 2>A?8B0=8O.
$50;870F8O #@>3@0<A?8B0=8O >A=>20=0 =0 2708<>459AB288 A
@07=K<8 AC1J5:B0<8 >1@07>20B5;L=KE >B=>H5=89 8 ?@54?>;0305B A>F80;L=>5
?0@B=5@AB2> A 4@C38<8 >@30=870F8O<8.
"@30=870F8>==K9 @0745; #@>3@0<8O @50;870F88
#@>3@0<A>15==>AB8 >@30=8F7088 $##%, <0B5@80;=>-B5E=8G5A:85,
:04@>2K5 CA;>28O, ?5@5G5=L, @5:><5=4C5<>9 ("# ", EC4>65AB25==>9
;8B5@0BC@K,
872545=89,
?@>872545=89
8A:CAAB20,
0=8<0F8>==KE ?@>872545=89.
 ?@8;>65=85 ?@54AB02;5= 381:89 ?@8<5@=K9 @568< 4=O =0 2>7@0AB=K5
3@C??K, (545@0;L=K9 :0;5=40@=K9 ?;0= 2>A?8B0B5;L=>9 @01>BK,?@>?8A0=K
?5@A?5:B82K A>25@H5=AB2>20=8O "# ".


Наверх
На сайте используются файлы cookie. Продолжая использование сайта, вы соглашаетесь на обработку своих персональных данных. Подробности об обработке ваших данных — в политике конфиденциальности.

Функционал «Мастер заполнения» недоступен с мобильных устройств.
Пожалуйста, воспользуйтесь персональным компьютером для редактирования информации в «Мастере заполнения».