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KEMENTERIAN PENDIDIKAN DAN KEBUDAYAAN

BADAN PENELITIAN DAN PENGEMBANGAN DAN PERBUKUAN


PUSAT KURIKULUM DAN PERBUKUAN

Henry Pranoto
Christy Rahma Septiani

SMA/SMK KELAS X
Hak Cipta pada Kementerian Pendidikan, Kebudayaan, Riset, dan Teknologi
Republik Indonesia.

Dilindungi Undang-Undang.

Disclaimer: Buku ini disiapkan oleh Pemerintah dalam rangka


pemenuhan kebutuhan buku pendidikan yang bermutu, murah,
dan merata sesuai dengan amanat dalam UU No. 3 Tahun
2017. Buku ini disusun dan ditelaah oleh berbagai pihak di
bawah koordinasi Kementerian Pendidikan, Kebudayaan,
Riset, dan Teknologi. Buku ini merupakan dokumen hidup yang
senantiasa diperbaiki, diperbaharui, dan dimutakhirkan sesuai
dengan dinamika kebutuhan dan perubahan zaman. Masukan
dari berbagai kalangan yang dialamatkan kepada penulis atau
melalui alamat surel buku@kemdikbud.go.id diharapkan dapat
meningkatkan kualitas buku ini.

Buku Panduan Guru Seni Musik


untuk SMA/SMK Kelas X

Penulis
Henry Pranoto
Christy Rahma Septiani

Penelaah
Rien Safrina
Iwan Budi Santoso

Penyelia
Pusat Kurikulum & Perbukuan

Ilustrator/Desainer
Alethea Laras Kinanti

Penyunting
Alethea Laras Kinanti

Penerbit
Pusat Kurikulum dan Perbukuan
Badan Penelitian dan Pengembangan dan Perbukuan
Kementerian Pendidikan, Kebudayaan, Riset, dan Teknologi
Jalan Gunung Sahari Raya No. 4 Jakarta Pusat

Cetakan pertama, 2021


ISBN 978-602-244-300-1 (jilid lengkap)
978-602-244-301-8 (jil.1)

Isi buku ini menggunakan huruf EB Garamond 10/12 pt, Google.


xii, 252 hlm.: 17.6 x 25 cm
Kata Pengantar

Pusat Kurikulum dan Perbukuan, Badan Penelitian dan Pengembangan dan


Perbukuan, Kementerian Pendidikan, Kebudayaan, Riset, dan Teknologi
mempunyai tugas penyiapan kebijakan teknis, pelaksanaan, pemantauan,
evaluasi, dan pelaporan pelaksanaan pengembangan kurikulum serta
pengembangan, pembinaan, dan pengawasan sistem perbukuan. Pada
tahun 2020, Pusat Kurikulum dan Perbukuan mengembangkan kurikulum
beserta buku teks pelajaran (buku teks utama) yang membawa semangat
merdeka belajar. Adapun kebijakan pengembangan kurikulum ini tertuang
dalam Keputusan Menteri Pendidikan dan Kebudayaan Republik Indonesia
Nomor 958/P/2020 tentang Capaian Pembelajaran pada Pendidikan Anak
Usia Dini, Pendidikan Dasar, dan Pendidikan Menengah.
Kurikulum ini memberikan keleluasan bagi satuan pendidikan dan guru
untuk mengembangkan potensinya serta keleluasan bagi siswa untuk belajar
sesuai dengan kemampuan dan perkembangannya. Untuk mendukung
pelaksanaan Kurikulum tersebut, diperlukan penyediaan buku teks pelajaran
yang sesuai dengan kurikulum tersebut. Buku teks pelajaran ini merupakan
salah satu bahan pembelajaran bagi siswa dan guru.
Pada tahun 2021, kurikulum ini akan diimplementasikan secara terbatas
di Sekolah Penggerak dan SMK Pusat Keunggulan. Begitu pula dengan buku
teks pelajaran sebagai salah satu bahan ajar akan diimplementasikan secara
terbatas di Sekolah Penggerak tersebut. Tentunya umpan balik dari guru dan
siswa, orang tua, dan masyarakat di Sekolah Penggerak sangat dibutuhkan
untuk penyempurnaan kurikulum dan buku teks pelajaran ini.
Selanjutnya, Pusat Kurikulum dan Perbukuan mengucapkan terima
kasih kepada seluruh pihak yang terlibat dalam penyusunan buku ini mulai
dari penulis, penelaah, reviewer, supervisor, editor, ilustrator, desainer, dan
pihak terkait lainnya yang tidak dapat disebutkan satu per satu. Semoga
buku ini dapat bermanfaat untuk meningkatkan mutu pembelajaran.

Jakarta, Juni 2021


Kepala Pusat Kurikulum dan Perbukuan,

Maman Fathurrohman, S.Pd.Si., M.Si., Ph.D.


NIP 19820925 200604 1 001

iii
Prakata

Penulisan buku pelajaran musik kelas X ini dimaksudkan untuk menjadi


panduan bagi para guru seni musik dalam mempersiapkan kegiatan belajar
mengajar musik bagi para peserta didik kelas X di seluruh Indonesia.
Dengan demikian, guru dan peserta didik dapat memperkaya pengetahuan
dan pengalaman mereka dalam bermusik. Selain mengembangkan
kemampuan bermusik, Buku Panduan ini juga bertujuan untuk membantu
perkembangan keterampilan dasar bermusik (soft skills) bagi para peserta
didik, baik secara individu maupun berkelompok. Keterampilan soft skills
bermusik yang dipelajari meliputi 7 unsur penting yaitu: kemampuan
menghafal dan konsentrasi tinggi dalam bermusik; kedisiplinan dan
kesabaran dalam bermusik; kemampuan bekerjasama dan beradaptasi;
komunikatif; manajemen waktu; pantang menyerah dan bertanggung jawab;
serta sikap terbuka terhadap kritik dan saran.
Buku panduan musik ini diharapkan dapat digunakan para guru untuk
membantu peserta didik membentuk dan membangun kepribadian yang
positif, serta ber-kebhinekaan global yang sesuai dengan UUD 1945 dan
Pancasila sebagaimana tertera dalam Profil Pelajar Pancasila. Untuk mencapai
tujuan yang diharapkan secara optimal, maka buku panduan musik ini
dibagi menjadi 5-unit pembelajaran yaitu:
1. Eksplorasi Bunyi dalam Musik
2. Eksplorasi Bentuk Struktur dan Genre Musik
3. Menciptakan Musik Sederhana
4. Manajemen Pertunjukan Musik
5. Apresiasi Musik
Tim penulis Buku Panduan Guru Seni Musik SMA/SMK Kelas X
berharap agar buku panduan ini dapat membantu para guru seni musik
dalam mempersiapkan proses belajar-mengajar dan memberikan pengalaman
bermusik bagi para peserta didik. Dengan demikian, peserta didik dapat
memiliki pengalaman bermusik yang menarik, tepat guna, dan terkini.
Penulis juga berharap agar buku panduan musik ini dapat menginspirasi
para guru musik untuk secara aktif menghasilkan ide-ide bermusik yang

iv
kreatif dalam mengembangkan minat dan bakat bermusik para peserta didik,
dengan memperhatikan tingkat pertumbuhan keterampilan dasar bermusik
(soft skills) dari para peserta didik yang mereka bina. Dengan demikian, para
peserta didik dapat memperoleh pengalaman belajar bermusik yang positif
dan membangun melalui: pengalaman pendidikan langsung (firsthand
musical experience) yang diberikan oleh para guru musik dengan materi
bermusik yang menarik. Para peserta didik diharapkan dapat senantiasa
menumbuhkan kecintaan dan kegemaran mereka untuk belajar bermusik
secara terus menerus dan berkesinambungan (lifelong musical learning).
Hal ini merupakan cerminan dari pengalaman positif dalam proses belajar-
mengajar musik yang mereka peroleh di dunia pendidikan (lifelong musical
experience).

Semarang, Februari 2021

Tim Penulis

v
Daftar Isi

Kata Pengantar .............................................................................................iii


Prakata...........................................................................................................iv
Daftar Isi .......................................................................................................vi
Daftar Gambar..............................................................................................ix
Daftar Tabel ...................................................................................................x
Panduan Umum .............................................................................................1
Tujuan Umum Pelajaran Seni Musik........................................................2
Tujuan Buku Panduan Guru Seni Musik SMA/SMK Kelas X...............5
Profil Pelajar Pancasila................................................................................7
Karakter Spesifik Mata Pelajaran Kelas X..................................................7
Alur Capaian Pembelajaran Tiap Tahun...................................................8

Unit 1 Eksplorasi Bunyi dalam Musik ..........................................................9


Kegiatan Pembelajaran I dan II
Mendengar dan Mengimitasi Bunyi-Musik ............................................15
Kegiatan Pembelajaran III dan IV
Memainkan dan Menghasilkan Bunyi-Musik berdasarkan Teknik
Imitasi Musik ...........................................................................................30
Kegiatan Pembelajaran V dan VI
Mengelaborasi Unsur-Unsur Musik dan Berbagai Teknik Bermusik....39
Kegiatan Pembelajaran VII dan VIII
Menampilkan Elaborasi Bunyi Musik dalam Pertunjukan Gerak
dan Tari ....................................................................................................54

Unit 2 Eksplorasi Bentuk Struktur dan Genre Musik .................................... 61


Kegiatan Pembelajaran I dan II
Memahami Bentuk Struktur Musik........................................................67

vi
Kegiatan Pembelajaran III dan IV
Mengeksplorasi Genre Musik .................................................................76
Kegiatan Pembelajaran V dan VI
Menghasilkan Karya Musik berdasarkan Bentuk Struktur dan
Genre Musik yang Dipilih ......................................................................89
Kegiatan Pembelajaran VII dan VIII
Memainkan dan Menampilkan Karya Musik sesuai Bentuk Struktur dan
Genre Musik.............................................................................................97

Unit 3 Menciptakan Lagu Sederhana ........................................................105


Kegiatan Pembelajaran I dan II
Konsep-Konsep dalam Menciptakan Musik Sederhana......................112
Kegiatan Pembelajaran III dan IV
Menciptakan Lagu Sederhana ..............................................................123
Kegiatan Pembelajaran V dan VI
Mencipta Orkestrasi Musik Sederhana .................................................133
Kegiatan Pembelajaran VII dan VIII
Mengemas Sajian Karya Musik Ciptaan ...............................................142

Unit 4 Manajemen Musik .........................................................................151


Kegiatan Pembelajaran I dan II
Konsep Manajemen Pertunjukan .........................................................158
Kegiatan Pembelajaran III dan IV
Manajemen Suara ..................................................................................167
Kegiatan Pembelajaran V dan VI
Manajemen Instrumen..........................................................................175
Kegiatan Pembelajaran VII dan VIII
Penulisan Proposal Pertunjukan ...........................................................186

vii
Unit 5 Apresiasi Musik ...............................................................................197
Kegiatan Pembelajaran I dan II
Estetika Bunyi Musik ............................................................................204
Kegiatan Pembelajaran III dan IV
Apresiasi Musik Barat ...........................................................................212
Kegiatan Pembelajaran V dan VI
Estetika Musik Tradisional Indonesia ..................................................221
Kegiatan Pembelajaran VII dan VIII
Apresiasi Pementasan Karya Seni ..........................................................229

Penutup .......................................................................................................238
Kunci Jawaban ............................................................................................239
Daftar Pustaka ...........................................................................................245
Biodata.........................................................................................................248

viii
Daftar Gambar

Gambar a.1 Contoh Motif Nada, Motif Ritme, dan Gabungan..............................3


Gambar a.2 Tujuan Buku Panduan Guru Seni Musik SMA Kelas X......................5
Gambar 1.1 QR Code Unit 1....................................................................................61
Gambar 2.1 Contoh Frase Lagu...............................................................................68
Gambar 2.2 Relasi Antara Frase dan Periode..........................................................68
Gambar 2.3 Contoh Motif Nada, Motif Ritme, dan Gabungan.......................... 72
Gambar 2.4 Contoh Formasi Permainan Musik.................................................... 77
Gambar 2.5 Musik Tradisional Gamelan Jawa.......................................................79
Gambar 2.6 Musik Tradisional Gambang Kromong............................................. 79
Gambar 2.7 Musik Tradisional Sasando Gong.......................................................80
Gambar 2.8 Musik non-tradisional musik Keroncong.......................................... 80
Gambar 2.9 QR Code Unit 2..................................................................................104
Gambar 3.1 Lembar Pernyataan Pengajuan Hak Cipta Musik, Video,
dan lain-lain.............................................................................................................115
Gambar 3.2 Contoh Invoice Pengajuan Hak Cipta...............................................116
Gambar 3.3 Contoh Sertifikat Surat Pencatatan Ciptaan.....................................117
Gambar 3.4 Contoh jarak nada pada alat musik tiup............................................135
Gambar 3.5 Warna nada (timbre)...........................................................................135
Gambar 3.6 QR Code Unit 3..................................................................................150
Gambar 4.1 Henri Foyal.........................................................................................158
Gambar 4.2 Pentas Seni Aku Indonesia.................................................................160
Gambar 4.3 Jarak Tinggi-Rendah Nada SATB.....................................................167
Gambar 4.4 Posisi Penempatan Pemain Musik Orkes..........................................176
Gambar 4.5 Philadelphia Orchestra Seating Plan.................................................177
Gambar 4.6 QR Code Unit 4..................................................................................196
Gambar 5.1 QR Code Unit 5..................................................................................238

ix
Daftar Tabel

Tabel 1.1 Pedoman Penilaian Aspek Sikap..............................................................22


Tabel 1.2 Pedoman Penilaian Aspek Keterampilan.................................................23
Tabel 1.3 Pedoman Refleksi Guru............................................................................24
Tabel 1.4 Pedoman Penilaian Aspek Sikap...............................................................33
Tabel 1.5 Pedoman Penilaian Aspek Keterampilan.................................................34
Tabel 1.6 Pedoman Refleksi Guru............................................................................35
Tabel 1.7 Tempo.......................................................................................................38
Tabel 1.8 Pedoman Penilaian Aspek Sikap..............................................................52
Tabel 1.9 Pedoman Penilaian Aspek Keterampilan.................................................53
Tabel 1.10 Pedoman Refleksi Guru..........................................................................54
Tabel 1.11 Pedoman Penilaian Aspek Sikap.............................................................58
Tabel 1.12 Pedoman Penilaian Aspek Keterampilan...............................................59
Tabel 1.13 Pedoman Refleksi Guru..........................................................................60
Tabel 2.1 Jenis-jenis Kandesa Musik........................................................................69
Tabel 2.2 Pedoman Penilaian Aspek Sikap...............................................................74
Tabel 2.3 Pedoman Penilaian Aspek Keterampilan.................................................74
Tabel 2.4 Pedoman Refleksi Guru............................................................................75
Tabel 2.5 Pedoman Penilaian Aspek Sikap...............................................................86
Tabel 2.6 Pedoman Penilaian Aspek Keterampilan.................................................87
Tabel 2.7 Pedoman Refleksi Guru............................................................................88
Tabel 2.8 Pedoman Penilaian Aspek Sikap...............................................................94
Tabel 2.9 Pedoman Penilaian Aspek Keterampilan..................................................95
Tabel 2.10 Pedoman Refleksi Guru..........................................................................96
Tabel 2.11 Pedoman Penilaian Aspek Sikap...........................................................101
Tabel 2.12 Pedoman Penilaian Aspek Keterampilan.............................................102
Tabel 2.13 Pedoman Refleksi Guru........................................................................103
Tabel 3.1 Jenis Pendaftaran Ciptaan......................................................................114
Tabel 3.2 Pedoman Penilaian Aspek Sikap.............................................................120

x
Tabel 3.3 Pedoman Penilaian Aspek Keterampilan...............................................121
Tabel 3.4 Pedoman Refleksi Guru..........................................................................122
Tabel 3.4 Pola Rima................................................................................................123
Tabel 3.5 Pembagian Suara Bernyanyi Wanita Berdasarkan Range Suara
dan Warna Suara......................................................................................................125
Tabel 3.6 Pembagian Suara Bernyanyi Pria Berdasarkan Range Suara dan
Warna Suara.............................................................................................................125
Tabel 3.7 Pedoman Penilaian Aspek Sikap.............................................................130
Tabel 3.8 Pedoman Penilaian Aspek Keterampilan...............................................131
Tabel 3.9 Pedoman Refleksi Guru.........................................................................132
Tabel 3.10 Bentuk Pola Lagi...................................................................................134
Tabel 3.11 Pedoman Penilaian Aspek Sikap..........................................................139
Tabel 3.12 Pedoman Penilaian Aspek Keterampilan............................................140
Tabel 3.13 Pedoman Refleksi Guru.......................................................................141
Tabel 3.14 Pedoman Penilaian Aspek Sikap..........................................................147
Tabel 3.15 Pedoman Penilaian Aspek Keterampilan.............................................147
Tabel 3.16 Pedoman Refleksi Guru........................................................................148
Tabel 4.1 Pedoman Penilaian Aspek Sikap.............................................................164
Tabel 4.2 Pedoman Penilaian Aspek Keterampilan................................................165
Tabel 4.3 Pedoman Refleksi Guru.........................................................................166
Tabel 4.4 Pedoman Penilaian Aspek Sikap.............................................................172
Tabel 4.5 Pedoman Penilaian Aspek Keterampilan...............................................173
Tabel 4.6 Pedoman Refleksi Guru..........................................................................174
Tabel 4.7 Daftar Pengelompokan Sumber Bunyi-Musik......................................175
Tabel 4.8 Rumpun Alat Musik Berdasarkan Pengelompokan Posisi Duduk
Dalam Grup Orkestra ............................................................................................177
Tabel 4.9 Pedoman Penilaian Aspek Sikap.............................................................183
Tabel 4.10 Pedoman Penilaian Aspek Keterampilan.............................................183
Tabel 4.11 Pedoman Refleksi Guru........................................................................185
Tabel 4.12 Pedoman Penilaian Aspek Sikap...........................................................192

xi
Tabel 4.13 Pedoman Penilaian Aspek Keterampilan...............................................193
Tabel 4.14 Pedoman Refleksi Guru........................................................................194
Tabel 5.1 Pedoman Penilaian Aspek Sikap.............................................................210
Tabel 5.2 Pedoman Penilaian Aspek Keterampilan................................................210
Tabel 5.3 Pedoman Refleksi Guru..........................................................................211
Tabel 5.4 Counterpoint five species...........................................................................213
Tabel 5.5 Jenis-Jenis Bentuk Musik.........................................................................214
Tabel 5.6 Pedoman Penilaian Aspek Sikap...............................................................219
Tabel 5.7 Pedoman Penilaian Aspek Keterampilan.................................................220
Tabel 5.8 Pedoman Refleksi Guru..........................................................................220
Tabel 5.9 Pedoman Penilaian Aspek Sikap.............................................................227
Tabel 5. 10 Pedoman Penilaian Aspek Keterampilan................................................227
Tabel 5.11 Pedoman Refleksi Guru........................................................................228
Tabel 5.12 Pedoman Penilaian Aspek Sikap............................................................234
Tabel 5.13 Pedoman Penilaian Aspek Keterampilan..............................................235
Tabel 5.14 Pedoman Refleksi Guru........................................................................236

xii
KEMENTRIAN PENDIDIKAN, KEBUDAYAAN, RISET, DAN KEBUDAYAAN
REPUBLIK INDONESIA, 2021
Buku Panduan Guru Seni Musik
untuk SMA/SMK Kelas X

ISBN: 978‐602‐244‐301‐8 (jil.1 )

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ǶȚȐǡǯ ȗǡȚȊष ǘNjȐNjǯष ȊNjȗǡǯष ȊȚǯȚDZष ȗNjǯƲǷॳष ǶƲȚȊȚǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ
ΘƲǷǘ LJƲȊƲȗ LJǡǬȚǶȊƲǡ LJǡ DZǡǷǘǯȚǷǘƲǷ ȗNjǶȊƲȗ ȗǡǷǘǘƲDZ ǶNjȍNjǯƲा
NjǷǘƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡ LJƲȍǡ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍ ȐȚƲȍƲष ǁƲȍƲ ǶNjǶƲǡǷǯƲǷष LJƲǷ ȊȍǽȐNjȐ ǶNjǯƲǷǡȐǶNj ȊȍǽLJȚǯȐǡ
ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ LJƲǷ
ǶNjȍNjϲNjǯȐǡǯƲǷ ȐȚƲȍƲঃȐȚƲȍƲ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ DZNjΒƲȗ ǯNjǬƲLJǡƲǷঃǯNjǬƲLJǡƲǷ ƲDZƲǶ
ॲȐǡȗȚƲȐǡ ǀNjǷǁƲǷƲ ƲDZƲǶष ǘȚǷȚǷǘ ǶNjDZNjȗȚȐष ǯNjǀƲǯƲȍƲǷष LJƲǷ DZƲǡǷঃDZƲǡǷॳ ΘƲǷǘ
LJǡȍNjǯƲǶॅLJǡȗȚDZǡȐǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ǶȚȐǡǯा
NjǷǘƲǷ ȊȍǽȐNjȐ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡ ǶȚȐǡǯ LJNjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊƲȍƲ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ǶƲǯǷƲ LJƲȍǡ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ǶNjȍNjǯƲ LJNjǷǘƲȍा
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ LJƲǷ ǶNjǶƲǡǷǯƲǷॅ

ࡲࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJNjǷǘƲǷ ȗNjǯǷǡǯ ΘƲǷǘ ǀƲǡǯष ǯȍNjƲȗǡǗष LJƲǷ ǡǷǽΑƲȗǡǗा
UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯा
%ȚȍȚ LJƲȊƲȗ ǶNjǶƲǷLJȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǶǀȚƲȗ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ
ΘƲǷǘ ȗNjȍNjǷǁƲǷƲष ȗNjȍȐȗȍȚǯȗȚȍष LJƲǷ ȗNjȍȐƲǬǡǯƲǷ LJNjǷǘƲǷ ǀƲǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǞƲȍȚȐ
ȗNjȗƲȊ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǯNjǡǷLJƲǞƲǷ LJƲǷ ǯǽǷȗNjǯȐȗȚƲDZǡȐƲȐǡ ǶȚȐǡǯा
,ƲDZ ǡǷǡ LJǡȐNjȐȚƲǡǯƲǷ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ȐȚƲȍƲ LJƲȍǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍष
LJǡȊǡDZǡǞष LJƲǷ LJǡȊNjDZƲǬƲȍǡ ƲǘƲȍ LJƲȊƲȗ ǶNjȍNjȊDZǡǯƲȐǡǯƲǷ ȐȚƲȍƲঃȐȚƲȍƲ ǯNjǬƲLJǡƲǷ
ƲȗƲȚȊȚǷ ȊNjȍǡȐȗǡΒƲ ƲDZƲǶ LJƲDZƲǶ ǀNjǷȗȚǯ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
UƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷा %ȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǷΘNjȐȚƲǡǯƲǷ
ǯNjǀȚȗȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǯǽǷLJǡȐǡ ȐNjǯǽDZƲǞष ȐƲȍƲǷƲ ȊȍƲȐƲȍƲǷƲष ǯǽǷLJǡȐǡ
ȊNjǶǀNjDZƲǬƲȍƲǷष LJƲǷ ȗƲDZNjǷȗƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ΘƲǷǘ LJǡƲǬƲȍा NjǷȗȚǯ LJƲǷ ǶǽLJNjDZ
ȊNjǶǀNjDZƲǬƲȍƲǷ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚष LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǀƲǘǡƲǷ
ƲDZȗNjȍǷƲȗǡǗ ȊNjǶǀNjDZƲǬƲȍƲǷ LJǡ ȐNjȗǡƲȊ ȚǷǡȗ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷा
eǷȗȚǯ LJƲȊƲȗ ǶNjǶȚLJƲǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ ǶNjDZƲǯȐƲǷƲǯƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjঃ
DZƲǬƲȍƲǷ ȚǷǡȗ ࡲ ǡǷǡष ǶƲǯƲ ƲǯƲǷ LJǡȐƲǬǡǯƲǷ ȊƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȚǷȗȚǯ LJNjDZƲȊƲǷ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲष ΘƲǷǘ ƲǯƲǷ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ ࡵ
ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷा BƲȐǡǷǘঃǶƲȐǡǷǘ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȊNjȍȗNjǶȚƲǷा
[NjȗǡƲȊ ȊNjȍȗNjǶȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ƲLJƲDZƲǞ ࡵࡶ ǶNjǷǡȗष LJNjǷǘƲǷ ȊƲǷLJȚƲǷ
ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjǷǡDZƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ߛ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߛ ǝLjȍ ߜ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ஼ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲDZǡ LJƲǷ
ǶNjǶȊNjDZƲǬƲȍǡ ȐȚƲȍƲ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ LJǡLJNjǷǘƲȍ LJƲDZƲǶ ȊNjǷǘƲDZƲǶƲǷ
ǞǡLJȚȊ ȐNjǞƲȍǡঃǞƲȍǡा %ȚȍȚ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
ǀNjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡǷΘƲ ॲLjǡȣȓȠǴȓȍǡ࢓ ǷǝǷȓȠǴȓȍǡ࢓ ǗǴȓȣǝȓȠǴȓȍǡ࢓
ȌǡȌǖȣLjȍȓȠǴȓȍǡष LJƲǷ ǡȇǡǗȭȣȓȠǴȓȍǡॳा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡳष ǘȚȍȚ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷǷΘƲ ॲƲDZƲȗ ǶȚȐǡǯ ȗǡȚȊष ǘNjȐNjǯष
ȊNjȗǡǯष ȊȚǯȚDZष ȗNjǯƲǷॳष LJƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǬȚǶȊƲǡ ȐNjǞƲȍǡঃǞƲȍǡा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjǷǘƲDZƲǶƲǷ ǀȚǷΘǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ƲǘƲȍ
LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡲࡲ


ǀNjȍǶȚȐǡǯ LJƲȍǡ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ ॲǡ͔ȠǡȣǷǡȍȭǷLjȇ ȇǡLjȣȍǷȍǮॳ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ॲǝǷȦǗȓ͎ǡȣ͕ ȇǡLjȣȍǷȍǮॳ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
LJा UȍǽȐNjȐ NjǯȐȊDZǽȍƲȐǡ ǶȚȐǡǯ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा BNjDZƲDZȚǡ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ
ȊNjǶƲǞƲǶƲǷ ȗNjǷȗƲǷǘ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष
ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ
ǶNjǶƲǞƲǶǡ ǯNjȗNjȍǯƲǡȗƲǷ LJƲȍǡ ǀȚǷΘǡ ȊNjȍǡȐȗǡΒƲঃȊNjȍǡȐȗǡΒƲ ƲDZƲǶ ȗNjȍȐNjǀȚȗ
LJNjǷǘƲǷ ǀȚǷΘǡ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲȍǡ ȊNjȍǶƲǡǷƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅ
ƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷΘƲLJƲȍǡॅǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ
ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ
LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ
ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ
ȊƲLJƲ DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjǷǘǡǶǡȗƲȐǡ ȐȚƲȍƲ ǀȚǷΘǡ ǶȚȐǡǯष LJƲǷ ǶNjǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ
ǶNjǷǡȗॳा
ߜ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߝ ǝLjȍ ߞ࢚
Ʋा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲȍ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjǷǘNjǷƲDZƲǷ ǀȚǷΘǡ ǶȚȐǡǯ LJƲDZƲǶ ȊNjǷǘƲDZƲǶƲǷ
ǶNjȍNjǯƲ ǀNjȍǶȚȐǡǯा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ
ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ
ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ
࣐ǡ͔ȠǡȣǷǡȍȭǷLjȇ ȇǡLjȣȍǷȍǮ࣑ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ
࣐ǝǷȦǗȓ͎ǡȣ͕ ȇǡLjȣȍǷȍǮ࣑ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǀNjDZƲǬƲȍ
ȚǷȗȚǯ ǶNjǷǘǡǶǡȗƲȐǡ ȐȚƲȍƲ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡǁǽǷȗǽǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ
ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡा %ȚȍȚ LJƲȊƲȗ

ࡲࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȊȚDZƲ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ LJǡȊNjȍȐǡƲȊǯƲǷ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ
ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ
ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ
ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJƲȍǡ ȊNjȍǡȐȗǡΒƲঃȊNjȍǡȐȗǡΒƲ ƲDZƲǶ
ȗNjȍȐNjǀȚȗा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅ
ƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷΘƲLJƲȍǡॅǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ
ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ
LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ
ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ
ȊƲLJƲ DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
ߝ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߟ ǝLjȍ ߠ࢚
Ʋा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲȍ
ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǯƲȍƲǯȗNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ
ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा
UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ
LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ ॲǡ͔ȠǡȣǷǡȍȭǷLjȇ ȇǡLjȣȍǷȍǮॳ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ
ǶNjǷNjǶȚǯƲǷ ॲǝǷȦǗȓ͎ǡȣ͕ ȇǡLjȣȍǷȍǮॳ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷष ǘȚȍȚ ƲǯƲǷ ǶNjǶǀƲǷȗȚ
ȊȍǽȐNjȐ ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶƲǷLJǡȍǡ LJƲȍǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
NjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷॅ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶNjȍNjǯƲ LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯा %ȚȍȚ
ǶNjǷǘNjDZƲǀǽȍƲȐǡǯƲǷ ǀNjȍǀƲǘƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष
LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡDZƲǯȚǯƲǷा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ǶNjǷǘƲȊDZǡǯƲȐǡǯƲǷ LJNjǷǘƲǷ ǀƲǡǯ ȚǷȐȚȍঃ
ȚǷȐȚȍ ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ
LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjǷǘǡǶǡȗƲȐǡƲǷ ǀȚǷΘǡ ǶȚȐǡǯ LJƲȍǡ
ȊNjȍǡȐȗǡΒƲঃȊNjȍǡȐȗǡΒƲ ƲDZƲǶ ȗNjȍȐNjǀȚȗा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ
ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȗNjǷȗƲǷǘ ȗNjǯǷǡǯ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡲࡴ


ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǀȚǷΘǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ
ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ
ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ
LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍा UNjǷǡDZƲǡƲǷ
ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ
ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯष ǶNjDZǡǞƲȗ ǁǽǷȗǽǞ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯष ǶNjǷǘǡǶǡȗƲȐǡ ȐȚƲȍƲ ǀȚǷΘǡ ǶȚȐǡǯष LJƲǷ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃ
ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊǡDZǡǞ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߞ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߡ ǝLjȍ ߢ࢚
Ʋा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡष ǘȚȍȚ ƲǯƲǷ ǶNjǶǀƲǷȗȚ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ LJNjǷǘƲǷ ƲȐȊNjǯ
ȐNjǷǡ ΘƲǷǘ DZƲǡǷष ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ȐNjǷǡ ȊNjȐNjȍȗƲ LJǡLJǡǯा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ ॲǡ͔ȠǡȣǷǡȍȭǷLjȇ ȇǡLjȣȍǷȍǮॳ
LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ॲǝǷȦǗȓ͎ǡȣ͕ ȇǡLjȣȍǷȍǮॳ ǀƲǘǡ ȊƲȍƲ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹष ǘȚȍȚ LJƲȊƲȗ ǶNjǶƲȐȗǡǯƲǷ
ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯ
LJƲDZƲǶ ȐNjǀȚƲǞ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ȐNjǷǡा UNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjDZƲǬƲȍ ȚǷȗȚǯ
ǶNjǷǘǘƲǀȚǷǘǯƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ LJƲDZƲǶ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ
ȐNjǷǡ ΘƲǷǘ ǯȍNjƲȗǡǗ LJƲǷ ǶNjǷƲȍǡǯा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ȐNjǁƲȍƲ ǶNjǷLJƲDZƲǶ ȚǷȐȚȍঃȚǷȐȚȍ
ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ΘƲǷǘ ǶNjȍNjǯƲ DZƲǯȚǯƲǷा [NjDZƲǷǬȚȗǷΘƲष
ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷǘǘƲǀȚǷǘǯƲǷ ȚǷȐȚȍ ǶȚȐǡǯ LJNjǷǘƲǷ
ǘNjȍƲǯ LJƲǷ ȗƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ
ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ
ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ

ࡲࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ
ȊƲLJƲ DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯष ǶNjDZǡǞƲȗ ǁǽǷȗǽǞ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯष ǶNjǷǘǡǶǡȗƲȐǡ ȐȚƲȍƲ ǀȚǷΘǡ ǶȚȐǡǯष ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊǡDZǡǞ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯष
LJƲǷ ǶNjǷǘǘƲǀȚǷǘǯƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ / ǝLjȍ //


BNjǷLJNjǷǘƲȍ LJƲǷ BNjǷǘǡǶǡȗƲȐǡ ȚǷΘǡ BȚȐǡǯ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
ॲȐȚǶǀNjȍ ǀȚǷΘǡ LJƲǷ ǁƲȍƲ ǶNjǶǀȚǷΘǡǯƲǷॳ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ȊNjǷLJNjǷǘঃ
ƲȍƲǷ LJƲǷ ȊȍǽȐNjȐ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ǡǶǡȗƲȐǡा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ǯǽǷȐNjȊ ȍǡȗǶNj LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ
ȊNjǶƲǞƲǶƲǷ ǘNjȍƲǯॅ ǀƲLJƲǷ LJƲDZƲǶ ǯǽǷȐNjȊ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶƲǷLJǡȍǡ LJƲǷ
ǀNjȍǯNjDZǽǶȊǽǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ ǶƲǶȊȚ ǶNjǷNjȍƲȊǯƲǷ ǯǽǷȐNjȊ ǡǶǡȗƲȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ LJƲǷ
ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा

BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ȐȚǶǀNjȍঃȐȚǶǀNjȍ ǀȚǷΘǡ ǶȚȐǡǯ LJƲȍǡ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ
LJƲǷ ǀNjǷLJƲঃǀNjǷLJƲ ΘƲǷǘ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJNjǷǘƲǷ
ǶNjǶƲǡǷǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा
NjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡǷΘƲष ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJƲȊƲȗ
LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ ǯƲȗNjǘǽȍǡ LjǡȣȓȠǴȓȍǡ࢓ ǷǝǷȓȠǴȓȍǡ࢓ ǗǴȓȣǝȓȠǴȓȍǡ࢓
ȌǡȌǖȣLjȍȓȠǴȓȍǡष LJƲǷ ǡȇǡǗȭȣȓȠǴȓȍǡा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡲࡶ


ࡲा DZƲȗ BȚȐǡǯ ǡȣȓȠǴȓȍǡ
LJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ LJƲȍǡ ǘNjȗƲȍƲǷ
ȚLJƲȍƲष ΘƲǷǘ LJǡǞNjǶǀȚȐǯƲǷ ǶNjDZƲDZȚǡ ȍǽǷǘǘƲঃȍǽǷǘǘƲ ƲDZƲȗ ǶȚȐǡǯ ǡȗȚ ȐNjǷLJǡȍǡष
LJƲǷ LJǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ LJǡȗǡȚȊा
ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ ǡȣȓȠǴȓȍǡ श
[ƲΗǽȊǞǽǷNj DZƲȍǡǷNjȗ bNjȍǽǶȊNjȗ

[ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅȐȗȍƲȚǶNjेǗǽȗǽ ॲࡳࡱࡳࡱॳ [ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǽǀǡNjǗNjȍǷƲǷLJNjΝ ॲࡳࡱࡳࡱॳ [ȚǶǀNjȍश ǗȍNjNjȊǡǯाǁǽǶॅȊǞǽȗǽǘNjǷǡƲ ॲࡳࡱࡳࡱॳ

,ƲȍǶǽǷǡǯƲ XNjǁǽȍLJNjȍ HǀǽNj

[ȚǶǀNjȍश ǁȍNjƲȗǡΑNjǁǽǶǶǽǷȐाǽȍǘॅ [ȚǶǀNjȍश ȊǡΗƲǀƲΘॅǁǞȍǽǶࡸࡳ ॲࡳࡱࡲࡷॳ [ȚǶǀNjȍश ȊǡΗƲǀƲΘॅ


ȊȚǀDZǡǁLJǽǶƲǡǷॅΝNjȍǽॅࡲाࡱॅ HȊNjǷDZǡȊƲȍȗঃqNjǁȗǽȍȐ ॲࡳࡱࡲࡴॳ

ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ ǡȣȓȠǴȓȍǡ bȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲश

[ƲDZȚƲǷǘ ॲBǡǷƲǷǘǯƲǀƲȚॳ [NjȍȚDZǡǷǘ ॲ:ƲΒƲ ƲȍƲȗॳ [ƲȍȚǷƲǡ ॲ[ȚǶƲȗȍƲ ƲȍƲȗॳ

[ȚǶǀNjȍश ȊƲȍǡΒǡȐƲȗƲǡǷLJǽǷNjȐǡƲाǡLJ [ȚǶǀNjȍश ǶǡDZNjǷǡƲDZǬǽȐȐाǁǽǶ [ȚǶǀNjȍश ΒƲȍǡȐƲǷǀȚLJƲΘƲाǯNjǶLJǡǯǀȚLJाǘǽाǡLJ

ࡳा DZƲȗ BȚȐǡǯ /ǝǷȓȠǴȓȍǡ


LJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ LJƲȍǡ ƲDZƲȗ
ǶȚȐǡǯ ǡȗȚ ȐNjǷLJǡȍǡष LJƲǷ LJǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ LJǡǘǽΘƲǷǘǯƲǷष LJǡȊȚǯȚDZष
LJƲǷ LJǡȗNjȊȚǯƲǷा

ࡲࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ /ǝǷȓȠǴȓȍǡश
[ǽȊȍƲǷǽ %DZǽǁǯNjǷȐȊǡNjDZ bȍǡƲǷǘDZNj BƲȍƲǁƲȐ

[ȚǶǀNjȍश ǶȚȐǡǁǡȐNjDZNjǶNjǷȗƲȍΘाǁǽǶ [ȚǶǀNjȍश NjǷाΒǡǯǡȊNjLJǡƲाǽȍǘ [ȚǶǀNjȍश NjǷाΒǡǯǡȊNjLJǡƲाǽȍǘ

ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ /ǝǷȓȠǴȓȍǡ bȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲश

%ǽǷǘ [ƲȍǽǷ ǽǷƲǷǘ ॲ:ƲΒƲ bNjǷǘƲǞॳ

[ȚǶǀNjȍश ǡLJाΒǡǯǡȊNjLJǡƲाǽȍǘ [ȚǶǀNjȍश ǘǽǽLJǷNjΒȐǗȍǽǶǡǷLJǽǷNjȐǡƲाǡLJ [ȚǶǀNjȍश ǘǽǽLJǷNjΒȐǗȍǽǶǡǷLJǽǷNjȐǡƲाǡLJ

<ǽDZǡǷȗƲǷǘ
ǷǘǯDZȚǷǘ ॲ:ƲΒƲ ƲȍƲȗॳ ॲ[ȚDZƲΒNjȐǡ eȗƲȍƲॳ NjǷǘ NjǷǘ ॲƲDZǡॳ

[ȚǶǀNjȍश ǯNjǀȚLJƲΘƲƲǷाǯNjǶLJǡǯǀȚLJाǘǽाǡLJ [ȚǶǀNjȍश ǡǷLJǽǷNjȐǡƲǯƲΘƲाǁǽǶ [ȚǶǀNjȍश ȊƲǷLJȚƲǷΒǡȐƲȗƲाǡLJ

ࡴा DZƲȗ BȚȐǡǯ ǴȓȣǝȓȠǴȓȍǡ


LJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ LJƲȍǡ LJƲΒƲǡा
:NjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǡǷǡ LJƲȊƲȗ LJǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲश

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡲࡸ


ǡȊNjȗǡǯष ǁǽǷȗǽǞǷΘƲ

ƲǷǬǽ %ǡȗƲȍ ,ƲȍȊƲ

[ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǁǞNjǷǞƲǷǽΝNjDZ ॲࡳࡱࡲࡺॳ [ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǬƲǁNjǯLJΘDZƲǘ ॲࡳࡱࡲࡹॳ [ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǀƲȍȗǽDZǽǷNj ॲࡳࡱࡲࡺॳ

ǡǘNjȐNjǯष ǁǽǷȗǽǞǷΘƲ

ǡǽDZƲ <ǽǷȗȍƲ ƲȐ

[ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǯNjǷȗȍǽ ॲࡳࡱࡲࡺॳ [ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅNjDZLJƲȍǷƲΝƲȍǽΝ ॲࡳࡱࡳࡱॳ

ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ ǴȓȣǝȓȠǴȓȍǡ bȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲश


ǡȊNjȗǡǯष ǁǽǷȗǽǞǷΘƲ

%ƲǶǀȚȐ ॲUȍǽΑǡǷȐǡ XǡƲȚॳ [ƲȐƲǷLJǽ ॲCbॳ

[ȚǶǀNjȍश DZƲǘȚLJƲNjȍƲǞाǡLJ [ȚǶǀNjȍश ȍǽȗNjǷLJƲǽǯƲǀाǘǽाǡLJ

ࡲࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


:ƲȊNjǷ ॲ<ƲDZǡǶƲǷȗƲǷ ,ƲȐƲȊǡ ॲƲȗƲǯ bǽǀƲॳ
bNjǷǘƲǞॳ

[ȚǶǀNjȍश ǀȚLJƲΘƲঃǡǷLJǽǷNjȐǡƲाǽȍǘ [ȚǶǀNjȍश ǡLJाΒǡǯǡȊNjLJǡƲाǽȍǘ

ǡǘNjȐNjǯष ǁǽǷȗǽǞǷΘƲ

<NjȐǽ ॲ[ȚDZƲΒNjȐǡ [NjDZƲȗƲǷॳ bNjǞΘƲǷ ॲNjȗƲΒǡॳ

[ȚǶǀNjȍश ǀȚLJƲΘƲঃǡǷLJǽǷNjȐǡƲाǽȍǘ [ȚǶǀNjȍश ǀȚLJƲΘƲঃǡǷLJǽǷNjȐǡƲाǽȍǘ

ࡵा DZƲȗ BȚȐǡǯ BǡȌǖȣLjȍȓȠǴȓȍǡ


LJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ LJƲȍǡ
ǶNjǶǀȍƲǷॅȐNjDZƲȊȚȗ ΘƲǷǘ ȗNjȍǀȚƲȗ LJƲȍǡ ǀƲǞƲǷ ǯȚDZǡȗ ǀǡǷƲȗƲǷǘष ƲȗƲȚȊȚǷ
ǀƲǞƲǷ ȐǡǷȗNjȗǡȐ DZƲǡǷǷΘƲष LJƲǷ LJǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ LJǡȗƲǀȚǞा
ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ BǡȌǖȣLjȍȓȠǴȓȍǡश
ȍȚǶ bƲǶǀǽȍǡǷ ǬNjǶǀNj

[ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅLJƲΑǡLJǶƲȍȗǡǷǬȍ ॲࡳࡱࡲࡹॳ [ȚǶǀNjȍश NjǷाΒǡǯǡȊNjLJǡƲाǽȍǘ [ȚǶǀNjȍश LJȍȚǶǁǽǷǷNjǁȗǡǽǷाǁǽǶ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡲࡺ


ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ BǡȌǖȣLjȍȓȠǴȓȍǡ bȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲश
XƲȊƲǡ ॲǁNjǞॳ %NjLJǽǶǀƲǯ ॲUȍǽΑा XǡƲȚॳ ǽDZDZ ॲUȍǽΑा NjǷǘǯȚDZȚॳ

[ȚǶǀNjȍश ǡLJाΒǡǯǡȊNjLJǡƲाǽȍǘ [ȚǶǀNjȍश LJǡȐǀȚLJाǯNjȊȍǡȊȍǽΑाǘǽाǡLJ [ȚǶǀNjȍश DZƲǘȚLJƲNjȍƲǞाǡLJ

<NjǷLJǞƲǷǘ bǡǗƲ ॲUȍǽΑा UƲȊȚƲॳ

[ȚǶǀNjȍश ǡLJाΒǡǯǡȊNjLJǡƲाǽȍǘ [ȚǶǀNjȍश ǡǷLJǽǷNjȐǡƲǯƲΘƲाǁǽǶ

ࡶा DZƲȗ BȚȐǡǯ ȇǡǗȭȣȓȠǴȓȍǡ


LJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ LJƲȍǡ
ǯǽǶȊǽǷNjǷ NjDZNjǯȗȍǡǯ ΘƲǷǘ ƲLJƲ LJǡ LJƲDZƲǶ ƲDZƲȗ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
ǽǷȗǽǞ ƲDZƲȗ ǶȚȐǡǯ ȇǡǗȭȣȓȠǴȓȍǡश
<ǡ͕ǖȓLjȣǝ [͕ȍȭǴǡȦǷ͚ǡȣ BǷǝǷ ȓȍȭȣȓȇȇǡȣ

[ȚǶǀNjȍश ȊǡΗƲǀƲΘाǁǽǶॅLJȍǷǡǁǯȐȗƲϦǽȍLJ ॲࡳࡱࡳࡱॳ [ȚǶǀNjȍश ȊǡΗƲǀƲΘाǁǽǶॅΑǽǶǡǷǞǞƲǡࡺࡴ ॲࡳࡱࡲࡺॳ

NjȍLJƲȐƲȍǯƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷǷΘƲष ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJƲȊƲȗ


LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ ǬNjǷǡȐश
व ƲDZƲȗ ǶȚȐǡǯ ȗǡȚȊ ॲǁǽǷȗǽǞǷΘƲश ȍNjǁǽȍLJNjȍष ϲȚȗNjष ȐƲΗǽȊǞǽǷNjष ȐNjȍȚDZǡǷǘष
ȐƲȍȚǷƲǡष ȊNjȍNjȍNjȗॳ
व ƲDZƲȗ ǶȚȐǡǯ ǘNjȐNjǯ ॲǁǽǷȗǽǞǷΘƲश ǀǡǽDZƲष ǁNjDZDZǽष ǯǽǷȗȍƲ ǀƲȐष ȗNjǞΘƲǷष ǯNjȐǽष
ƲȍǀƲǀॳ

ࡳࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


व ƲDZƲȗ ǶȚȐǡǯ ȊNjȗǡǯ ॲǁǽǷȗǽǞǷΘƲश ǘǡȗƲȍष ǞƲȍǘƲष ȚǯȚDZNjDZNjष ȐƲȐƲǷLJǽष ǘƲǶǀȚȐष
ǞƲȐƲȊǡॳ
व ƲDZƲȗ ǶȚȐǡǯ ȊȚǯȚDZ ॲǁǽǷȗǽǞǷΘƲश LJȍȚǶष ȗƲǶǀǽȍǡǷष LJǬNjǶǀNjष ȍƲȊƲǡष ǘNjLJǽǶǀƲǯष
LJǽDZDZॳ
व ƲDZƲȗ ǶȚȐǡǯ LJǡȗNjǯƲǷ ॲǁǽǷȗǽǞǷΘƲश ȊǡƲǷǽष ǯNjΘǀǽƲȍLJष ȊǡƲǷǡǯƲष ƲǁǁǽȍLJǡǽǷॳ
LJƲ ǀNjǀNjȍƲȊƲ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǯǽǶǀǡǷƲȐǡ LJƲȍǡ ȐȚǶǀNjȍ
ǀȚǷΘǡ LJNjǷǘƲǷ ǁƲȍƲ ȊNjȍǶƲǡǷƲǷ ΘƲǷǘ ȐȊNjȐǡϯǯष ǶǡȐƲDZǷΘƲ ȊǡƲǷǡǯƲ ΘƲǷǘ
ǶNjȍȚȊƲǯƲǷ ƲDZƲȗ ǶȚȐǡǯ LjǡȣȓȠǴȓȍǡ LJNjǷǘƲǷ ȗNjǯǷǡǯ ǶNjǶƲǡǷǯƲǷǷΘƲ LJǡȗǡȚȊ LJƲǷ
LJǡȗNjǯƲǷ ȗȚȗȐǷΘƲा ǽǷȗǽǞ ΘƲǷǘ DZƲǡǷǷΘƲ ƲLJƲDZƲǞ ȊǡƲǷǽ ΘƲǷǘ ǶNjȍȚȊƲǯƲǷ ƲDZƲȗ
ǶȚȐǡǯ ȊNjǷǘǞƲȐǡDZ ȐȚƲȍƲ LJƲȍǡ ȐȚǶǀNjȍ ǀȚǷΘǡ LJƲΒƲǡ ǷƲǶȚǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷǷΘƲ
ƲLJƲDZƲǞ LJNjǷǘƲǷ LJǡȗNjǯƲǷ ȗȚȗȐǷΘƲष ȐNjǞǡǷǘǘƲ ȊNjDZƲȗȚǯ ǯƲΘȚ ǶNjǶȚǯȚDZ ƲΒƲǡঃ
LJƲΒƲǡ LJƲDZƲǶ ȍȚƲǷǘ ȍNjȐǽǷƲǷȐǡ ΘƲǷǘ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯा Ʋȍǡ ǁƲȍƲ
ȊNjȍǶƲǡǷƲǷ ǡǷǡष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍDZƲȗǡǞ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ΘƲǷǘ ǀƲǡǯष ǯȍNjƲȗǡǗष LJƲǷ ǡǷǽΑƲȗǡǗा
NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊƲLJƲ ȗƲǞƲȊƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȐȚǶǀNjȍঃǀȚǷΘǡ
LJƲǷ ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ LJǡȊNjȍǯNjǷƲDZǯƲǷ LJNjǷǘƲǷ
ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा [NjDZƲǡǷ ǡȗȚष ǶNjȍNjǯƲ ǬȚǘƲ ƲǯƲǷ LJǡȊNjȍǯNjǷƲDZǯƲǷ
LJNjǷǘƲǷ ƲDZƲȗঃƲDZƲȗ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ DZƲǡǷष ΘƲǷǘ LJƲȊƲȗ ǶNjǶȊNjȍǯƲΘƲ
ȊNjǶǡDZǡǞƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ ǶNjȍNjǯƲ ǞƲȐǡDZǯƲǷा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ
LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȊNjȍȗǡ ǀǽȗǽDZ
ǯƲǁƲष ǘƲDZǽǷ Ʋǡȍष ȊƲǷǁǡष ΒƲǬƲǷष LJƲǷ ȊNjȍƲDZƲȗƲǷঃȊNjȍƲDZƲȗƲǷ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ ǬȚǘƲ
LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯा

LjǴLjȍ UǡȍǮLj͕LjLjȍ eȭLjȌLj


/ȍǝȓȍǡȦǷLjȍ BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȊࡶ[XxΗǬࡺΒqy
[ȰLjȣLj UǡȭǷȣ ͕LjȍǮ ǷȭǷȣȰȅLjȍ ȓȇǡǴ ULjǝȰLjȍ [ȰLjȣLj ǝǡȍǮLjȍ %ǡȦǡȅLjȍ bLjȍǮLjȍ࢓
UǡȭǷȅLjȍ :LjȣǷ࢓ bǡȠȰȅ ULjǴLj࢓ ǝLjȍ ,ǡȍȭLjȅLjȍ <LjȅǷ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡳࡺȌƲCࡱBࡱǽࡱȐ
BǡȌǖȰLjȭ ǭǡȅ [ȰLjȣLj UǡȭǷȣ ǝǡȍǮLjȍ <LjȇǡȍǮࢡ bLjǖȰȍǮ ǡȅLjȦ
ߝ ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡳेΒBǷ:xे<W
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡳǗǀǬe/b[ࡵ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡳࡲ


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚȊNjȍDZȚǶNjǶȊNjȍȐǡƲȊǯƲǷǞƲDZঃǞƲDZȗNjȍǯƲǡȗǀNjDZƲǬƲȍǶNjǷǘƲǬƲȍƲǘƲȍȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ
ǘȚȍȚष ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा
UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǶȚȐǡǯष ΘƲǡȗȚ ƲDZƲǶष ȚǷȗȚǯ
ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ȊNjǷȗǡǷǘǷΘƲ
ǀNjȍƲǘƲǶ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष
ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ Ǘा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴঃࡵ
ǀा ǶǀNjȍ ǀNjȐƲȍ ઝ ǯNjǁǡDZ ǡǷǁǡ
ǁा %ƲDZǽǷ Ʋǡȍ ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
LJा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
Njा [NjȍƲǷǘǯƲǡƲǷ ǯȚǷǁǡष
ࡸा /ǷȐȗȍȚǶNjǷ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ƲǬǽǷ LJा ǽǷǘǽॅ ȗǡǗƲ ॅǘNjǷLJƲǷǘष
ǀा ƲȐȗƲǷNjȗ Njा LJƲǷ DZƲǡǷঃDZƲǡǷ
ǁा bƲǶǀǽȍǡǷ

ࡳࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा <ǽǷLJǡȐǡ ǯNjDZƲȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjDZƲǬƲȍ LJNjǷǘƲǷ ǀƲǡǯ
LJƲǷ ǯǽǷLJȚȐǡǗा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡ
ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ
ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷ ॲΑǡLJNjǽ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ȚȗƲǶƲ ࡲॳ
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷ ॲΑǡLJNjǽ
ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ࡳ LJƲǷ ࡴॳा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ NjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡ
ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǶNjǶƲǯǷƲǡ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡳࡴ


Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ǯNjȗȚǯƲǷ ǯȚƲȗ LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ
ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕࢚
ǡा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȊNjǶƲǞƲǶƲǷ ȍǡȗǶNj LJNjǷǘƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ
ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳा
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȗNjǯǷǡǯ LJƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷǷΘƲा %ȚȍȚ LJƲȊƲȗ
ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ॲȐNjǷƲǷǘ ȐNjLJǡǞष ǶƲȍƲǞष
ȗƲǯȚȗष LJƲǷ DZƲǡǷঃDZƲǡǷॳ LJNjǷǘƲǷ ǯNjLJƲDZƲǶƲǷ ǶƲǯǷƲ LJƲǷ NjǗNjǯ ΘƲǷǘ LJƲȊƲȗ
LJǡȗǡǶǀȚDZǯƲǷ LJƲȍǡ NjǯȐȊȍNjȐǡঃNjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
Ƕा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǶƲǡǷǯƲǷ
ǀȚǷΘǡঃǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ NjǯȐȊȍNjȐǡ
ǶȚȐǡǯष ȐNjǞǡǷǘǘƲ ǞƲDZঃǞƲDZ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ ǶNjǶȊNjǷǘƲȍȚǞǡ ȊNjǷƲǶȊǡDZƲǷ
ǶNjȍNjǯƲ LJƲDZƲǶ ǀNjȍǶȚȐǡǯा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ
ȐNjȍȚȊƲष ȐNjȍȗƲ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
[NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡǷΘƲ ȐNjȍȗƲ ǶNjǶǀȚƲȗ
ΑǡLJNjǽ ǶƲǷLJǡȍǡ LJƲDZƲǶ ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा bȚǘƲȐ
LJƲȊƲȗ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

ࡳࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ
%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯा %ȚȍȚ
ǬȚǘƲ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ƲǘƲȍ LJƲȊƲȗ
ȐƲDZǡǷǘ ǶNjǷǁNjȍǡȗƲ ȊNjǷǘƲDZƲǶƲǷ LJƲDZƲǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा UNjǷǘƲDZƲǶƲǷ
ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡǁNjȍǡȗƲǯƲǷ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǯǷǡǯ LJƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ƲȗƲȚȊȚǷ ǀNjǷLJƲঃǀNjǷLJƲ ΘƲǷǘ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃ
ǶȚȐǡǯा

BLjȭǡȣǷ UǡȍǮLj͕LjLjȍ ȇȭǡȣȍLjȭǷǭ


BȰȦǷǗ࢒ LjȣȭǴȢȰLjȅǡ ࣐ȣȰȌࢡUǡȣǗȰȦȦǷȓȍ࣑
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΑࡹWƲǞࡺࡲΑǞe
ǡȦȭ ȣȰȌȌǡȣ ͎ǡȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$Ȍ:LJΝyyे$ƲȐ
ߜ==H[ ࣡ bǴȰȍǝǡȣȦȭȣȰǗȅ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȚbࡴ[ΝǶΗ%ǯ
[ȭǡ͎ǡࣱȍ [ǡLjǮȰȇȇȦ ࣡ bǴȰȍǝǡȣȦȭȣȰǗȅ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰNjࡵǽঃǡCUUeǁ
bǴǡ HψǗǷLjȇ ,ȓȭ [ǗȓȭȦ ǝȣȰȌ ȇǷȍǡ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷǡȚࡴȊ[ǘǁΒ
%ȣȓȓ͎ǡ HȍȅǡȇȦ ǭǡLjȭ࢚ %ȣȓȓ͎ǡ bLjȍȭǡ ࣡ ࣮%ǡȇǖǡȣ [LjǗȅ࣯ HȰȭǝȓȓȣ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǷࡱȌȐࡵेǀyࡵΑǘ
,LjȍǮ BLjȦȦǷ͎ǡ ࣡ HȍǗǡ ǮLjǷȍ ࣐ߜߚߛߛ࣑
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗǯࡴΑC=NjCǘΒ

ǡȣǖLjǮLjǷ :ǡȍǷȦȇLjȭ BȰȦǷȅࢡ[ȰȌǖǡȣȰȍ͕Ƿ ǝLjȍbǡȅȍǷȅUǡȣȌLjǷȍLjȍ


$H=/ ࣐bǴǡȣǡ ǷȦ ȍȓ Bȓ͎ǡȌǡȍȭ sǷȭǴȓȰȭ XǴ͕ȭǴȌ࣑
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZqU=/ȚΘࡺy
bǴǡ ǡȦȭ ǡLjȭǖȓ͔ yȓȰࣱȇȇ ͎ǡȣ ,ǡLjȣ Cǡ͏
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰঃǘ,ǘxǶBxΑǘ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡳࡶ


BȰȦǷǗ Bǡȇȓǝ͕ ǭȣȓȌ /ȍȦȭȣȰȌǡȍȭȦ ȓǭ ǷΤǡȣǡȍȭ ȓȰȍȭȣǷǡȦ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/yࡴࡷࡺࡷeǯࡺ,ǘ
BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ CLjȌǡȦ࢒ eȦǡǭȰȇ =ǷȦȭ ȓǭ BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ Ƿȍ
ߞ ȍǮȇǷȦǴ sǷȭǴ UǷǗȭȰȣǡȦ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗࡶ[ࡺXUq~ΘXΒ
/ UȇLj͕ǡǝ ߟߚ /ȍȦȭȣȰȌǡȍȭȦ Ƿȍ ߜ BǷȍȰȭǡȦ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷǡȚࡴȊ[ǘǁΒ
bǷȌǖȣǡ࢒ sǴ͕ ǷΤǡȣǡȍȭ /ȍȦȭȣȰȌǡȍȭȦ UȇLj͕ǷȍǮ ȭǴǡ [LjȌǡ bȓȍǡ [ȓȰȍǝ
ߠ ǷΤǡȣǡȍȭ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰqXx<ࡵW<:ࡲW
=ȓȣǷȦ =ȓȌǖLjȣǝȓ ࣡ /ȭLjȇǷLjࣱȦ %ȓȭ bLjȇǡȍȭ
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeyΘyࡹǡǡ%ǁΑǘ
[ȭȓȌȠ Cǡ͏ȦȠLjȠǡȣȦ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeȌyΘHेxsࡱ
ȣLjȌǷȣ ࣡ ,LjȍǝȠLjȍ࢓ ȭLjǖȇǡ࢓ ȅLjȍȂǷȣLj࢓ ȦǴLjȅǡȣ࢓ ǝLjȣǖȰȅLj ǝLjȍ ȅȓȍȍLjȅȓȇ
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀࡶ<ǽH/ঃLJ/ǡࡵ
͏ǡȦȓȌǡ UǷȠǡ ࣡ ȣȰȌȌǡȣ
ߛߚ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbǬࡷࡷǶeΑ<Cy
ȇǡǗȭȣȔȍǷǗLj LjȇȇǡȂǡȣLj ȓȦȭLj XǷǗLj UȰȣLj qǷǝLj࢕࢕࢕࢕
ߛߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbǁȊ,Αࡲ:
bǴǡ Xǡ͎ǡȍǮǡ ࣐BȰȦǷǗ %ȇLjȦȦǡȦ࣑
ߛߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZΑࡷǽȊࡳ,,/ȚB

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲष ǯNjǘǡƲȗƲǷ ǡǷȗǡष ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚष ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǡǷǡ ǶNjDZǡȊȚȗǡश

ࡳࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡲाࡲ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǽȍƲǷǘ DZƲǡǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ǀNjȍǶȚȐǡǯ

BNjǷǘǞƲȍǘƲǡ ȊNjȍǀNjLJƲƲǷ
ǀȚLJƲΘƲ LJƲǷ ȐNjDZNjȍƲ ǶȚȐǡǯ
ǽȍƲǷǘ DZƲǡǷ

[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ


LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡳࡸ


bƲǀNjDZ ࡲाࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡॅǬNjǷǡȐঃǬNjǷǡȐ
ƲDZƲȗ ǶȚȐǡǯ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǯƲȗNjǘǽȍǡॅǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
ΘƲǷǘ LJǡǶƲǡǷǯƲǷ

BNjǶǡDZǡǯǡ ƲǯȚȍƲȐǡ
ǶNjǷLJNjǷǘƲȍ ǀȚǷΘǡঃǶȚȐǡǯ

BNjǷǘȚƲȐƲǡ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ǀNjȍƲǘƲǶ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJNjǷǘƲǷ
ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡲाࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ

ॲࡲॳ ॲࡳॳ ॲࡴॳ

[NjǀNjȍƲȊƲ ǀNjȐƲȍ ȗǡǷǘǯƲȗ NjǗNjǯȗǡΑǡȗƲȐ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ


ࡲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjȍǞƲLJƲȊ ȗNjȍǁƲȊƲǡǷΘƲ ȗȚǬȚƲǷ ǀNjDZƲǬƲȍि

ࡳࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ

ॲࡲॳ ॲࡳॳ ॲࡴॳ


[NjǀNjȍƲȊƲ NjǗNjǯȗǡǗ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ΘƲǷǘ ȗNjDZƲǞ
ࡳ LJǡǘȚǷƲǯƲǷ ȗNjȍǞƲLJƲȊ ȊNjǷǡǷǘǯƲȗƲǷ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ
LJǡLJǡǯि

BƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ƲȊƲǯƲǞ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡ LJƲȍǡ


ࡴ ǁNjȍǶǡǷƲǷ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȚǯƲǷि

ȊƲ ȐƲǬƲ ǷǽȍǶƲঃǷǽȍǶƲ ΘƲǷǘ LJƲȊƲȗ LJǡȊNjDZƲǬƲȍǡ LJƲȍǡ


ࡵ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷि

ƲǘƲǡǶƲǷƲǯƲǷ ƲǷȗȚȐǡƲȐ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷǘǡǯȚȗǡ


ࡶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǷǘ ȗNjȍǁNjȍǶǡǷ LJƲȍǡ ȊNjDZƲǯȐƲǷƲƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǞƲȍǡ ǡǷǡि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǶȊȍƲǯȗǡǯǯƲǷ ǶƲȗNjȍǡ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ ǯƲȗNjǘǽȍǡ LjǡȣȓȠǴȓȍǡष
ǷǝǷȓȠǴȓȍǡष ǗǴȓȣǝȓȠǴȓȍǡष ȌǡȌǖȣLjȍȓȠǴȓȍǡष LJƲǷ ǡȇǡǗȭȣȓȠǴȓȍǡ࢚
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा
ࡴा BNjǷǁƲȍǡ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ƲȗƲȚ ǀƲȍƲǷǘঃǀƲȍƲǷǘ ΘƲǷǘ LJƲȊƲȗ LJǡǬƲLJǡǯƲǷ
ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡳࡺ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ /// ǝLjȍ /q
BNjǶƲǡǷǯƲǷ LJƲǷ BNjǷǘǞƲȐǡDZǯƲǷ ȚǷΘǡঃBȚȐǡǯ NjȍLJƲȐƲȍǯƲǷ
bNjǯǷǡǯ /ǶǡȗƲȐǡ ȚǷΘǡ

bȰȂȰLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ΘƲǷǘ LJǡLJNjǷǘƲȍ LJƲǷ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ॲȐȚǶǀNjȍ
ǀȚǷΘǡ LJƲǷ ǁƲȍƲ ǶNjǶǀȚǷΘǡǯƲǷॳ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ LJNjǷǘƲȍ ƲǯƲǷ ȐȚƲȍƲঃ
ȐȚƲȍƲ ΘƲǷǘ ǀNjȍȐȚǶǀNjȍ LJƲȍǡ ƲDZƲǶष DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍ ॲǷƲȗȚȍƲDZ ǀȚǷΘǡ LJƲǷ
NjDZNjǯȗȍǽǷǡǯॳ ȐNjǁƲȍƲ ȐNjǯȐƲǶƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȗǡǷǘǯƲȗ ǶȚȐǡǯƲDZǡȗƲȐ
ΘƲǷǘ ǀƲǡǯ LJƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯƲǡLJƲǞঃǯƲǡLJƲǞ ǀȚLJƲΘƲा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJNjǷǘƲǷ ȐNjȐƲǶƲ LJƲǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ
ǀNjȍǀƲǘƲǡ ȚǷȐȚȍ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ǡǷLJƲǞा

BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ LJƲȊƲȗ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲǷ
ȗNjǯǷǡǯ ǶNjǶǀȚǷΘǡǯƲǷ ǀNjǷLJƲঃǀNjǷLJƲ ΘƲǷǘ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯा
%ȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ LJNjǷǘƲǷ ǶNjǶƲǡǷǯƲǷ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲǷ ǀNjǷLJƲঃǀNjǷLJƲ ȊNjǷǘǞƲȐǡDZ ȐȚǶǀNjȍ ǀȚǷΘǡ ȗNjȍȐNjǀȚȗा [NjDZƲǡǷ ǡȗȚष
ǘȚȍȚ LJƲȊƲȗ ǶNjǷƲΘƲǷǘǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJƲȍǡ ǶƲȗNjȍǡঃ
ǶƲȗNjȍǡ ΑǡLJNjǽ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ǀȚǯȚ ȊƲǷLJȚƲǷष
ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा bȚǬȚƲǷǷΘƲ ƲǘƲȍ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjDZƲǬƲȍǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ȚǶȚǶ LJƲȍǡ ƲDZƲȗঃ
ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡǷΘƲ ॲLjǡȣȓȠǴȓȍǡ࢓
ǷǝǷȓȠǴȓȍǡ࢓ ǗǴȓȣǝȓȠǴȓȍǡ࢓ ȌǡȌǖȣLjȍȓȠǴȓȍǡ࢓ ǝLjȍ ǡȇǡǗȭȣȓȠǴȓȍǡॳा
ƲȍƲঃǁƲȍƲ ȚǶȚǶ LJƲDZƲǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ƲLJƲDZƲǞ LJNjǷǘƲǷ ǁƲȍƲश
ߛ bǷȰȠ
$ȇȰȭǡ࢒ BǡȍǷȰȠ $ȇȰȭǡ ࢘ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΘࡱDZΝΝǀȐLJΘȗǽ

ࡴࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


[ȰȇǷȍǮ࢒ ࢘ǡȇLjȂLjȣ [ȰȇǷȍǮ [ȰȍǝLj
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡵǷǶH=qǘǷेΝࡵ
ߜ %ǡȦǡȅ
ǷȓȇLj࢒ bǷȠȦ ǮǡȦǡȅ ǖǷȓȇLj ȌȰǝLjǴ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡵs/ΝHȗǯǘࡴǬ/
XǡǖLjǖ࢒ ǡȣȌLjǷȍ XǡǖLjǖ [ȰȍǝLj
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$ǘX$BࡵǘࡷǶ/ઝȗਰࡴࡹࡷȐ
ߝ UǡȭǷȅ
LjȍȂȓ࢒ ǡȇLjȂLjȣ LjȍȂȓ ULjȣȭ ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡶࡱCyȗǀƲCNjǬ/
<ǡǗLjȠǷ [ȰȍǝLj࢒ LjȦLjȣ BǡȌLjǷȍȅLjȍ <ǡǗLjȠǷ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbࡷǘΝNjΒ~:ࡺࡵ
ߞ UȰȅȰȇ
ȣȰȌ࢒ ȣȰȌ =ǡȦȦȓȍ ȰȍȭȰȅ UǡȌȰȇLj
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ%/ΗΑࡴȊΒ[$ǘǯ
[Ljȣȓȍ࢒ ǡȇLjȂLjȣ [Ljȣȓȍ ǡȌȰȍǮ

ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸqࡷy$qs%Ƕǀǯ
ߟ bǡȅLjȍ
UǷLjȍȓ࢒ ߟ =LjȭǷǴLjȍ LjȦLjȣ ͕LjȍǮ ǖǷȅǷȍ UǡȌȰȇLj ǖǷȦLj ȌLjǷȍ UǷLjȍȓ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbX~WLJࡲs=ࡺ<ǽઝǗNjƲȗȚȍNjਰΘǽȚȗȚाǀNj

UNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ǶNjǷǘȚƲȐƲǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjǁƲȍƲ


ȚǶȚǶ ȗNjȍDZNjǀǡǞ LJȚDZȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ȗNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ DZƲǡǷष ǶNjǷǘǘƲǀȚǷǘǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯष
LJƲǷ ǀƲǞǯƲǷ ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȊƲLJƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍǀNjLJƲ
LJNjǷǘƲǷ ǁƲȍƲ ΘƲǷǘ ǀNjDZȚǶ ȚǶȚǶ LJǡDZƲǯȚǯƲǷा
NjȍǀƲǘƲǡ ǁƲȍƲ ȚǷȗȚǯ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲȊƲȗ LJǡDZǡǞƲȗ LJƲȍǡ
ǶƲȗNjȍǡঃǶƲȗNjȍǡ ȊNjǷǘƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷष ȐNjȊNjȍȗǡश ǁƲȍƲ ǶNjǶƲǡǷǯƲǷ
ǀǡǽDZƲष ȚǯȚDZNjDZNjष LJȍȚǶष ǯƲDZǡǶǀƲष ȐȚDZǡǷǘष ǯNjΘǀǽƲȍLJष ȗȍǽǶȊNjȗष ǘǡȗƲȍष LJƲǷ DZƲǡǷঃDZƲǡǷ
ॲǞȗȗȊȐशॅॅǡLJाΒǡǯǡǞǽΒाǁǽǶॅ<ƲȗNjǘǽȍǡशDZƲȗঃBȚȐǡǯॳा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡴࡲ


BLjȭǡȣǷ UǡȍǮLj͕LjLjȍ ȇȭǡȣȍLjȭǷǭ

BȰȦǷǗ࢒ LjȣȭǴȢȰLjȅǡ ࣐ȣȰȌࢡUǡȣǗȰȦȦǷȓȍ࣑


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΑࡹWƲǞࡺࡲΑǞe
ǡȦȭ ȣȰȌȌǡȣ ͎ǡȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$Ȍ:LJΝyyे$ƲȐ
ߜ==H[ ࣡ bǴȰȍǝǡȣȦȭȣȰǗȅ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȚbࡴ[ΝǶΗ%ǯ
[ȭǡ͎ǡࣱȍ [ǡLjǮȰȇȇȦ ࣡ bǴȰȍǝǡȣȦȭȣȰǗȅ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰNjࡵǽঃǡCUUeǁ
bǴǡ HψǗǷLjȇ ,ȓȭ [ǗȓȭȦ ǝȣȰȌ ȇǷȍǡ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷǡȚࡴȊ[ǘǁΒ
%ȣȓȓ͎ǡ HȍȅǡȇȦ ǭǡLjȭ࢚ %ȣȓȓ͎ǡ bLjȍȭǡ ࣡ ࣮%ǡȇǖǡȣ [LjǗȅ࣯ HȰȭǝȓȓȣ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǷࡱȌȐࡵेǀyࡵΑǘ
,LjȍǮ BLjȦȦǷ͎ǡ ࣡ HȍǗǡ ǮLjǷȍ ࣐ߜߚߛߛ࣑
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗǯࡴΑC=NjCǘΒ
$H=/ ࣐bǴǡȣǡ ǷȦ ȍȓ Bȓ͎ǡȌǡȍȭ sǷȭǴȓȰȭ XǴ͕ȭǴȌ࣑
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZqU=/ȚΘࡺy
bǴǡ ǡȦȭ ǡLjȭǖȓ͔ yȓȰࣱȇȇ ͎ǡȣ ,ǡLjȣ Cǡ͏
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰঃǘ,ǘxǶBxΑǘ
BȰȦǷǗ Bǡȇȓǝ͕ ǭȣȓȌ /ȍȦȭȣȰȌǡȍȭȦ ȓǭ ǷΤǡȣǡȍȭ ȓȰȍȭȣǷǡȦ
ߛߚ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/yࡴࡷࡺࡷeǯࡺ,ǘ
BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ CLjȌǡȦ࢒ eȦǡǭȰȇ =ǷȦȭ ȓǭ BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ Ƿȍ
ߛߛ ȍǮȇǷȦǴ sǷȭǴ UǷǗȭȰȣǡȦ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗࡶ[ࡺXUq~ΘXΒ
bǷȌǖȣǡ࢒ ͏Ǵ͕ ǝǷΤǡȣǡȍȭ ǷȍȦȭȣȰȌǡȍȭȦ ȠȇLj͕ǷȍǮ ȭǴǡ ȦLjȌǡ ȭȓȍǡ ȦȓȰȍǝ ǝǷΤǡȣǡȍȭ
ߛߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰqXx<ࡵW<:ࡲW
=ȓȣǷȦ =ȓȌǖLjȣǝȓ ࣡ /ȭLjȇǷLjࣱȦ %ȓȭ bLjȇǡȍȭ
ߛߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeyΘyࡹǡǡ%ǁΑǘ
[ȭȓȌȠ Cǡ͏ȦȠLjȠǡȣȦ
ߛߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeȌyΘHेxsࡱ

ࡴࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष
ǁǽǷȗǽǞǷΘƲश
Ʋा BƲǁƲǶঃǶƲǁƲǶ Ȑȗǡǁǯ LJȍȚǶश ǯƲΘȚष ǷǡDZǽǷष ǀȍȚȐǞष ǶƲDZDZNjȗष ǀȚǷLJDZNjष ƲDZȗNjȍǷƲȗǡǗ
Ȑȗǡǁǯ LJȍȚǶ ॲȦ͕ȍȭǴǡȭǷǗॳ
ǀा DZƲȗ ȊNjǶȚǯȚDZ ȊNjȍƲDZǽǷ LJƲȍǡ ǀƲǞƲǷ ǯƲȍNjȗ ॲȍƲǯNjȗ ȗNjǷǡȐ ǶNjǬƲॳ
ǁा DZƲȗ ȊNjǶȚǯȚDZ LJƲȍǡ ǀNjȐǡॅ DZǽǘƲǶ
LJा [NjǷLJǽǯ LJƲǷ ǘƲȍȊȚ
Njा Uǡǁǯ ǘǡȗƲȍ
Ǘा ǽΒ ǀǡǽDZƲ ॲǀNjȍǶƲǁƲǶঃǶƲǁƲǶ ȚǯȚȍƲǷॳ
ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा NjȍǶƲǁƲǶঃǶƲǁƲǶ ƲDZƲȗ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा DZƲȗ ǶȚȐǡǯ LjǡȣȓȠǴȓȍǡश ȐNjȍȚDZǡǷǘष ȍNjǁǽȍLJNjȍष ϲȚȗNjष ȗNjȍǽǶȊNjȗा
ǀा DZƲȗ ǶȚȐǡǯ ǷǝǷȓȠǴȓȍǡश ƲǷǘǯDZȚǷǘष ǯȚDZǡǷȗƲǷǘष ǀǽǷƲǷǘष ȐƲȍǽǷष ǶƲȍƲǯƲȐष
ǘDZǽǁǯNjǷȐȊǡNjDZष ȗȍǡƲǷǘDZNj
ǁा DZƲȗ ǶȚȐǡǯ ǗǴȓȣǝȓȠǴȓȍǡश LJǡȊNjȗǡǯष ǁǽǷȗǽǞǷΘƲश ǀƲǷǬǽष ǘǡȗƲȍष ǞƲȍȊƲष ǘƲǶǀȚȐष
ȐƲȐƲǷLJǽष ǯNjǁƲȊǡष ȚǯȚDZNjDZNjॄ LJǡǘNjȐNjǯ ǁǽǷȗǽǞǷΘƲश ǀǡǽDZƲष LJǽȚǀDZNj ǀƲȐȐष ǯNjȐǽष
ƲȍǀƲǀष ȗNjǞΘƲǷ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡴࡴ


LJा DZƲȗ ǶȚȐǡǯ ȌǡȌǖȣLjȍȓȠǴȓȍǡश ǯNjȗǡȊȚǷǘष ǯNjǷLJƲǷǘष ȗƲǀǽȍǡǷष LJȍȚǶष ǀNjLJȚǘा
Njा DZƲȗ ǶȚȐǡǯ ǡȇǡǗȭȣȓȠǴȓȍǡश ǯNjΘǀǽƲȍLJष LJȍȚǶ NjDZNjǯȗȍǡǯष : ȊDZƲΘNjȍष LJƲǷ ƲDZƲȗ
ǶȚȐǡǯ Ȧ͕ȍȭǴǡȦǷ͚ǡȣा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡ
ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ
ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘƲǶƲȗǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲȍǡ ΑǡLJNjǽ ΘƲǷǘ LJǡȊȚȗƲȍ ǶƲȚȊȚǷ LJNjǷǘƲǷ ǶNjǶǀNjȍǡǯƲǷ
ǁǽǷȗǽǞ ǀNjȍǶƲǡǷ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘा
ǁा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘƲǶƲȗǡ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷ
ǀNjǷLJƲঃǀNjǷLJƲ ȊNjǷǘǞƲȐǡDZ ǀȚǷΘǡ LJNjǷǘƲǷ ǶNjǶȚȗƲȍǯƲǷ ǁǽǷȗǽǞ ΑǡLJNjǽ
ǶƲȚȊȚǷ LJNjǷǘƲǷ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ǀNjȍǶƲǡǷ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ
LJा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍǡǯȚȗǷΘƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ
ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा
Njा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ȗNjȍȐNjǀȚȗ ȊƲLJƲ ȗNjǯǷǡǯ
ȊNjȍǶƲǡǷƲǷ ǶNjȍNjǯƲ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚा
Ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
Ǟा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ

ࡴࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ΘƲǷǘ
LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ ȐNjȊNjȍȗǡ
ȍǡȗǶNj LJƲǷ ǶNjDZǽLJǡष ΘƲǷǘ ǷƲǷȗǡǷΘƲ ƲǯƲǷ LJǡǡǶǡȗƲȐǡ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯा
Ǭा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȊNjǶƲǞƲǶƲǷ ȍǡȗǶNj LJNjǷǘƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ
ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍǡǯȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ
NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯा
Ƕा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍǡǯȚȗǷΘƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ
ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ
ǶȚȐǡǯ LJƲǷ NjǯȐȊȍNjȐǡ ǶȚȐǡǯष ȐNjǞǡǷǘǘƲ LJƲȊƲȗ ǶNjǷȚǶǀȚǞǯƲǷ ǯNjǶƲǶȊȚƲǷ
ǶȚȐǡǯƲDZǡȗƲȐ ǶNjȍNjǯƲा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ
ȐNjȍȚȊƲष ȐNjȍȗƲ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
[NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡǷΘƲ ȐNjȍȗƲ ǶNjǶǀȚƲȗ
ΑǡLJNjǽ ǶƲǷLJǡȍǡ LJƲDZƲǶ ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा bȚǘƲȐ
LJƲȊƲȗ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯा %ȚȍȚ
ǬȚǘƲ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ƲǘƲȍ LJƲȊƲȗ
ȐƲDZǡǷǘ ǶNjǷǁNjȍǡȗƲ ȊNjǷǘƲDZƲǶƲǷ LJƲDZƲǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा UNjǷǘƲDZƲǶƲǷ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡴࡶ


ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡǁNjȍǡȗƲǯƲǷ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǯǷǡǯ LJƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ƲȗƲȚȊȚǷ ǀNjǷLJƲঃǀNjǷLJƲ ΘƲǷǘ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃ
ǶȚȐǡǯा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲष ǯNjǘǡƲȗƲǷ ǡǷȗǡष ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚष ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡲाࡵ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ
LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ

ࡴࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡲाࡶ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡॅǬNjǷǡȐঃǬNjǷǡȐ
ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ǁƲȍƲ
ǶNjǶƲǡǷǯƲǷǷΘƲ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǯƲȗNjǘǽȍǡॅǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ǷƲLJƲ ॲǶNjDZǽLJǡ LJƲǷ
ǞƲȍǶǽǷǡॳ LJNjǷǘƲǷ ȊNjȍǁƲΘƲ
LJǡȍǡ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡴࡸ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
LJNjǷǘƲǷ LJǡȐǡȊDZǡǷ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
NjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡲाࡷ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ


ࡲ ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ


ࡳ ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ


ࡴ ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ


ࡵ ǷǽȍǶƲঃǷǽȍǶƲि

ࡴࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjǁƲȍƲ ȚǶȚǶा
ࡳा BNjǷǁƲȍǡ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ƲȗƲȚ ǀƲȍƲǷǘঃǀƲȍƲǷǘ ΘƲǷǘ LJƲȊƲȗ
LJǡǬƲLJǡǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡ ǶȚȐǡǯा
ࡴा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲǷ ǀNjǷLJƲঃǀNjǷLJƲ ȊNjǷǘǞƲȐǡDZ
ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q ǝLjȍ q/


BNjǷǘNjDZǽǀƲȍƲȐǡ eǷȐȚȍঃeǷȐȚȍ BȚȐǡǯ LJƲǷ NjȍǀƲǘƲǡ bNjǯǷǡǯ NjȍǶȚȐǡǯ

bȰȂȰLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjDZƲǀǽȍƲȐǡ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ॲȐȚǶǀNjȍ ǀȚǷΘǡ LJƲǷ ǁƲȍƲ ǶNjǶǀȚǷΘǡǯƲǷॳ LJNjǷǘƲǷ
ǁƲȍƲ ǶNjǷLJNjǷǘƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍȐȚǶǀNjȍ LJƲȍǡ ƲDZƲǶष
DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍ ॲǷƲȗȚȍƲDZ ǀȚǷΘǡ LJƲǷ NjDZNjǯȗȍǽǷǡǯॳा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȗǡǷǘǯƲȗ ǶȚȐǡǯƲDZǡȗƲȐ
ΘƲǷǘ ǀƲǡǯ LJƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯƲǡLJƲǞঃǯƲǡLJƲǞ ǀȚLJƲΘƲा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ǯǽǷȐNjȊ ǀNjȍȊǡǯǡȍ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ǀNjȍǶȚȐǡǯा

BLjȭǡȣǷ Uȓȅȓȅ
[NjȗNjDZƲǞ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶƲǶȊȚ ǶNjǶƲǡǷǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ
ȚǶȚǶ ȊƲLJƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡴࡺ


ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJNjǷǘƲǷ DZNjǀǡǞ DZȚƲȐा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶNjǷǘǘƲǀȚǷǘǯƲǷॅ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ ǀNjǀNjȍƲȊƲ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲDZƲǶ
ǶNjǶƲǡǷǯƲǷ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯा UƲLJƲ ȗƲǞƲȊƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष
ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǁƲȍƲঃǁƲȍƲ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjǁƲȍƲ
ǯȍNjƲȗǡǗ LJƲǷ ǡǷǽΑƲȗǡǗष LJNjǷǘƲǷ ȗNjȗƲȊ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍ ǯNjǶȚǷǘǯǡǷƲǷঃǯNjǶȚǷǘǯǡǷƲǷ
ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞा eǷȗȚǯ ǶNjǶȊNjȍǶȚLJƲǞ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶȊNjDZƲǬƲȍǡ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯष ǘȚȍȚ ƲǯƲǷ ǶNjǶǀƲǷȗȚ ǶNjȍNjǯƲ ȚǷȗȚǯ ǶNjǷǘNjǶǀƲǷǘǯƲǷ
ǯNjǶƲǶȊȚƲǷ ǶNjǷLJNjǷǘƲȍ ǶȚȐǡǯ LJƲǷ ǶNjǶƲǞƲǶǡ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯा BNjȍNjǯƲ
ƲǯƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJNjǷǘƲǷ DZNjǀǡǞ ȗNjȍȊNjȍǡǷǁǡष ȐNjȊNjȍȗǡ ǡȍƲǶƲ
ॲȍǡȗǶNjष ȗNjǶȊǽष ǯNjȗȚǯƲǷॳष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJǡǷƲǶǡǯƲष NjǯȐȊȍNjȐǡ ǶȚȐǡǯष LJƲǷ
DZƲǡǷঃDZƲǡǷा
<NjǶƲǶȊȚƲǷ ǶNjǷLJNjǷǘƲȍ ǶNjȍȚȊƲǯƲǷ ǞƲDZ ΘƲǷǘ ȐƲǷǘƲȗ ȊNjǷȗǡǷǘ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯा ƲDZƲǶ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯNjǶƲǶȊȚƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ǶȚȐǡǯ
ȗNjȍȐNjǀȚȗ ॲǴǡLjȣǷȍǮॳष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡष ǶNjǷǘNjȗƲǞȚǡष
LJƲǷ ǶNjDZǡǞƲȗ ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡष ǀƲǘǡƲǷ ȗNjȍǯNjǁǡDZ LJƲȍǡ ȐǡȐȗNjǶ ȍǡȗǶǡȐ ΘƲǷǘ ȗNjȍǀƲǘǡ
LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjȗȚǯƲǷ ǀNjȐƲȍ LJƲǷ ǯNjǁǡDZा XǡȗǶNjष ΘƲǷǘ ǶNjȍȚȊƲǯƲǷ LJNjǷΘȚȗ
ǬƲǷȗȚǷǘ LJƲȍǡ ǶȚȐǡǯष ǶNjȍȚȊƲǯƲǷ ǞƲDZ ΘƲǷǘ ȐƲǷǘƲȗ ȊNjǷȗǡǷǘ ȚǷȗȚǯ LJǡȊNjDZƲǬƲȍǡ
LJƲǷ LJǡǯȚƲȐƲǡ ǀƲǘǡ ȐNjǽȍƲǷǘ ȊNjǶȚȐǡǯा UDZƲȗǽ ǶNjǷǘƲȗƲǯƲǷ ǀƲǞΒƲ ঐȊNjǷLJǡLJǡǯƲǷ
LJƲDZƲǶ ǀǡLJƲǷǘ ǶȚȐǡǯ ǶNjǶǡDZǡǯǡ ǞƲDZ ΘƲǷǘ ȗNjȍȊNjǷȗǡǷǘ LJǡǀƲǷLJǡǷǘ ǞƲDZঃǞƲDZ ΘƲǷǘ
DZƲǡǷष LJǡ ǶƲǷƲ ȚǷȐȚȍ ȍǡȗǶNj LJƲǷ ǞƲȍǶǽǷǡ LJƲȊƲȗ ǶNjǷǁƲȊƲǡ ȗNjǶȊƲȗঃȗNjǶȊƲȗ
ΘƲǷǘ ȗNjȍȐNjǶǀȚǷΘǡ LJǡ LJƲDZƲǶ ǬǡΒƲ঑ ॲsǡǷȐDZǽΒष XǽǀNjȍȗ sाष =NjǽǷ ƲDZDZǡǷष ࡳࡱࡱࡲॳा
NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȗƲǷȊƲ ȊNjǷǘȚƲȐƲƲǷ LJƲǷ ȊNjǶƲǞƲǶƲǷ
ΘƲǷǘ ǀNjǷƲȍ ȗNjǷȗƲǷǘ ȍǡȗǶNj ƲǯƲǷ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗǡLJƲǯ ǀƲǡǯा
LJƲȊȚǷ ǞƲDZঃǞƲDZ ΘƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ ȚǷȐȚȍ ȍǡȗǶNj ƲLJƲDZƲǞ ȗNjǶȊǽष ǯNjȗȚǯƲǷ
ॲǯȚƲȗঃDZNjǶƲǞॳ LJƲǷ ǷǽȗƲȐǡष ǀǡȍƲǶƲष ȗƲǷLJƲ ǀǡȍƲǶƲष LJƲǷ ǞǡȗȚǷǘƲǷ LJƲDZƲǶ ǀǡȍƲǶƲ
DZƲǘȚष ȐǡǷǯǽȊƲȐǡष LJƲǷ ȊǽDZǡȍǡȗǶǡǯा
bƲǀNjDZ ࡲाࡸ bNjǶȊǽ
<NjǁNjȊƲȗƲǷ ॲUBॅǡLjȭ Uǡȣ
:NjǷǡȐঃ:NjǷǡȐ bNjǶȊǽ
BǷȍȰȭǡॳ
ǷLJƲǷȗNjश DZƲǶǀƲȗ ॲȐNjȊNjȍȗǡ
ࡸࡷ ঁ ࡲࡱࡹ UB
ǯNjǁNjȊƲȗƲǷ ǀNjȍǬƲDZƲǷ ǯƲǯǡॳ
BǽLJNjȍƲȗǽश ȐNjLJƲǷǘ ࡲࡱࡹ ঁ ࡲࡳࡱ UB

ࡵࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


DZDZNjǘȍNjȗȗǽश ƲǘƲǯ ǁNjȊƲȗ ࡲࡲࡳ ঁ ࡲࡳࡱ UB
DZDZNjǘȍǽश ǁNjȊƲȗ ࡲࡳࡱ ঁ ࡲࡶࡷ UB
qǡΑƲǁNjश ǁNjȊƲȗ LJƲǷ
ࡲࡶࡷ ঁ ࡲࡸࡷ UB
ǀNjȍȐNjǶƲǷǘƲȗ
UȍNjȐȗǽश ȐƲǷǘƲȗ ǁNjȊƲȗ ࡲࡷࡹ ঁ ࡳࡱࡱ UB

ǯNjȗȚǯƲǷ ॲǯȚƲȗঃDZNjǶƲǞॳ LJƲDZƲǶ ǷǽȗƲȐǡश

bƲǷLJƲ ǡȍƲǶƲश

UNjǶƲǞƲǶƲǷ ƲǯƲǷ ȐǡǷǯǽȊƲȐǡ LJƲǷ ȊǽDZǡȍǡȗǶǡȐ ǶNjǷǘǘȚǷƲǯƲǷ ȐǡȐȗNjǶ


ȊNjǶǀNjDZƲǬƲȍƲǷ ȍǡȗǶNj <ǽLJƲDZΘ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ UNjǷΘNjȗƲȍƲƲǷ <ǽLJƲDZΘ

[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲष Ȋा ࡳࡸा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡵࡲ


ǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐǡǷǯǽȊƲȐǡ ǶNjǷǘǘȚǷƲǯƲǷ ȐǡȐȗNjǶ <ǽLJƲDZΘ
LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǘƲǶǀƲȍ ǀNjȍǡǯȚȗश

[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲष Ȋा ࡲࡺ

UNjǶƲǯƲǡƲǷ ǗȚǷǘȐǡ ঐȗƲ঑ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ LJƲDZƲǶ ǶNjǶǀNjȍǡǯƲǷ ȊƲǷLJȚƲǷ


ǀNjDZƲǬƲȍ ƲǯƲǷ ǗȚǷǘȐǡ ȐǡǷǯǽȊƲȐǡ ȊƲLJƲ ǯNjȗȚǯƲǷ ȗƲǷLJƲ ǀǡȍƲǶƲ ࡳॅࡵष ࡴॅࡵष LJƲǷ ࡵॅࡵा

Uǡȍ͕ǡȭLjȣLjLjȍ XǷȭȌǡ ǝLjȣǷ CȓȭLjȦǷ %ȣȰȠ ߛࢡߛߠ Ljȍ

[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲष Ȋा ࡴࡵ

ࡵࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


[NjȗNjDZƲǞ ǶNjǶȊNjDZƲǬƲȍǡ ǀNjǷȗȚǯ ǯNjȗȚǯƲǷ LJƲǷ ȍǡȗǶNjष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǀNjȍDZƲȗǡǞ ǶNjǷǡȍȚǯƲǷ ȊǽDZƲ ȍǡȗǶNj ΘƲǷǘ LJǡǁǽǷȗǽǞǯƲǷ ǘȚȍȚ ƲȗƲȚ ΘƲǷǘ LJǡLJNjǷǘƲȍा
,ƲDZ ǡȗȚ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁǽǷȗǽǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjȊNjȍȗǡ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ LJǡ ƲȗƲȐष LJǡǘȚǷƲǯƲǷ ȚǷȗȚǯ


LJƲȊƲȗ ǶNjǷǘƲǬƲȍ ȊǽDZƲ ȍǡȗǶǡǯष ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯNjǶƲǶȊȚƲǷ ǶNjǷLJNjǷǘƲȍष
ǯǽǽȍLJǡǷƲȐǡ ǘNjȍƲǯ ȗȚǀȚǞष ǯNjǶƲǶȊȚƲǷ ǶNjǷǘǡǷǘƲȗ ȍǡȗǶǡǯष LJƲǷ ǶNjǷǘNjȗƲǞȚǡ
ǀNjǷȗȚǯ ǶȚȐǡǯा
ƲȍƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȍǡȗǶNj LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ȊǽDZƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ DZƲǡǷष ȐNjȊNjȍȗǡ ΘƲǷǘ ȗNjȍȗNjȍƲ ȊƲLJƲ ǘƲǶǀƲȍ LJǡ
ǀƲΒƲǞ ǡǷǡश

<ǽǽȍLJǡǷƲȐǡ bȚǀȚǞ
[ǽȍƲǯ ,Njǡ
bNjȊȚǯ bƲǷǘƲǷ
<Ʋǯǡ <ǡȍǡ
<Ʋǯǡ <ƲǷƲǷ
<NjLJȚƲ <Ʋǯǡ

[ǽȍƲǯ ,Njǡ
bNjȊȚǯ bƲǷǘƲǷ
<Ʋǯǡ <ǡȍǡ
<Ʋǯǡ <ƲǷƲǷ
<NjLJȚƲ <Ʋǯǡ

[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

BNjȗǽLJNj ȊNjǶǀNjDZƲǬƲȍƲǷ ȍǡȗǶNj ΘƲǷǘ LJƲȊƲȗ LJǡȗNjȍƲȊǯƲǷ ƲLJƲDZƲǞ ǶNjǷǘǘȚǷƲǯƲǷ


ǶNjȗǽLJNj Ȱȣ͕ȭǴȌǷǗȦ ǽDZNjǞ ƲDZǁȍǽΝNjा BNjȗǽLJNj ȊNjǶǀNjDZƲǬƲȍƲǷ ȍǡȗǶNj ǡǷǡ
ǶNjǷǘǞȚǀȚǷǘǯƲǷ ǗȚǷǘȐǡ ǘNjȍƲǯƲǷঃǘNjȍƲǯƲǷ ȗȚǀȚǞ ॲǖȓǝǷȇ͕ Ȍȓ͎ǡȌǡȍȭॳ ȚǷȗȚǯ
ǶNjǶǀƲǷȗȚ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ǯNjȗȚǯƲǷ LJƲǷ ȍǡȗǶNj ǶȚȐǡǯा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡵࡴ


UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ ȗƲǞƲȊ ࡲ LJƲǷ ࡳ ǡǷǡ LJƲȊƲȗ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ
ǘNjȍƲǯ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳष ƲǘƲȍ LJƲȊƲȗ
ǶNjǶǀƲǷȗȚ ǶNjǷǘǽȊȗǡǶƲDZǯƲǷ ƲȍȗǡȐȗǡǯ NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯा
[NjDZƲǷǬȚȗǷΘƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǷǘǘƲǀȚǷǘƲǷ ǯNjȗȚǯƲǷ
LJƲǷ ȍǡȗǶNj LJƲDZƲǶ ǀNjǷȗȚǯ ǷǽȗƲȐǡ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǁǽǷȗǽǞ ǘƲǶǀƲȍ LJǡ ǀƲΒƲǞ
ǡǷǡश
bƲǶǀǽȍǡǷ

<NjȗǡȊȚǷǘ

<NjǷLJƲǷǘ

bǡǗƲ

[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

eǷȐȚȍ ǶȚȐǡǯ ΘƲǷǘ ȊNjȍDZȚ LJǡȊNjDZƲǬƲȍǡ ǀNjȍǡǯȚȗǷΘƲ ƲLJƲDZƲǞ BNjDZǽLJǡा


UNjǶƲǞƲǶƲǷ ƲǯƲǷ ǶNjDZǽLJǡ LJƲȊƲȗ LJǡȊNjDZƲǬƲȍǡ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJNjǷǘƲǷ
ȊNjDZƲȗǡǞƲǷ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ȊȍǽȐNjȐ ȊNjǷǘǡLJNjǷȗǡϯǯƲȐǡƲǷ ȗǡǷǘǘǡঃȍNjǷLJƲǞ ǷƲLJƲ
ƲȗƲȚ ȊȍǽȐNjȐ ǷƲǡǯঃȗȚȍȚǷǷΘƲ ǷƲLJƲ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲȍǡ ǀȚǷΘǡঃȐȚƲȍƲ ǶȚȐǡǯा
HDZNjǞ ǯƲȍNjǷƲ ȚǷȐȚȍ ȚȗƲǶƲ LJƲȍǡ ǶȚȐǡǯ ƲLJƲDZƲǞ ǀȚǷΘǡष ǶƲǯƲ ǶNjLJǡƲ ȚȗƲǶƲ ΘƲǷǘ
LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ ȊȍǽȐNjȐ ǀNjDZƲǬƲȍ ǶȚȐǡǯ ȊƲLJƲ ȗƲǞƲȊƲǷ ǡǷǡ ƲLJƲDZƲǞ ǶNjLJǡƲ LJNjǷǘƲȍा
UNjǶƲǞƲǶƲǷ ƲǯƲǷ ǶNjDZǽLJǡ LJƲȊƲȗ ǶNjǷLJǽȍǽǷǘ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǗȚǷǘȐǡ LJƲǷ
ȊNjȍƲǷ ǞƲȍǶǽǷǡ LJƲDZƲǶ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯा ǯƲǷ ȗNjȗƲȊǡष ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ƲǯƲǷ ǶNjDZǽLJǡ ǬȚǘƲ LJƲȊƲȗ LJǡLJȚǯȚǷǘ ǽDZNjǞ ȊNjǷNjȍƲȊƲǷ ǞƲȍǶǽǷǡ ȐNjǞǡǷǘǘƲ
ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ǗȚǷǘȐǡ ǶNjDZǽLJǡ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
ǷȚƲǷȐƲ ȍȚƲǷǘ LJƲǷ ΒƲǯȗȚा
NjǀNjȍƲȊƲ ǞƲDZ ΘƲǷǘ ȊNjȍDZȚ LJǡǯNjȗƲǞȚǡ LJƲDZƲǶ ǶNjǶƲǞƲǶǡ ǶNjDZǽLJǡ LJƲǷ
ǞƲȍǶǽǷǡ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
Ʋा /ǷȗNjȍΑƲDZ CƲLJƲ

ࡵࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǀा :ƲȍƲǯ LJǡƲȗǽǷǡǯ ǷƲLJƲ ॲǝǷLjȭȓȍǷǗ ȦǗLjȇǡॳ

ǁा CƲǶƲ ǡǷȗNjȍΑƲDZ ǷƲLJƲ ǀNjȍLJƲȐƲȍǯƲǷ ǬƲȍƲǯ ƲǷȗƲȍ ǷƲLJƲ ॲȦǗLjȇǡ ǝǡǮȣǡǡॳ

LJा UȍǽǘȍNjȐǡ ǞǽȍLJ

[NjDZƲǡǷ LJƲȍǡ ȊƲLJƲ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ȐNjǁƲȍƲ ǷΘƲȗƲ
ǶNjDZǡǞƲȗष ǶNjǷǘƲDZƲǶǡष LJƲǷ ǶNjȍNjϲNjǯȐǡǯƲǷ ȊȍǽȐNjȐ ǀNjȍǶȚȐǡǯ ǶNjȍNjǯƲ LJNjǷǘƲǷ
ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ LJƲǷ ǶNjǷǘǯDZƲȐǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJNjǷǘƲǷ
ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ȗNjȍǬƲLJǡ DZNjΒƲȗ ȊNjȍǡȐȗǡΒƲঃȊNjȍǡȐȗǡΒƲ ƲDZƲǶ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲा

LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ


ǡȣȌLjǷȍ BȰȦǷȅ ǝLjȣǷ LjȣLjȍǮ ǡȅLjȦ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰUࡸࡶUWΒǯȍ=ǽ
BȰȦǷȅ bȣLjǝǷȦǷȓȍLjȇ ࣐[Ljȣȓȍ࢓ <ǡȍȓȍǮ࢓ <ǡȍǝLjȍǮ࣑
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZΑȍࡹȊȗΒΒ=ǶΒ
<ǡǗLjȠǷ [ȰȇǷȍǮ ULjȍǮLjȠȰȍǮLjȍ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ,ࡺࡲyΗNjH,ࡸy

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡵࡶ


ȰǡȇǷȍǮ LjȍȂȓȦ ǭȣȓȌ /ȍǝȓȍǡȦǷLjȍ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΘǽC$ǗΘࡵe~ࡵ
Ljȍȓȍ ȓ͎ǡȣ ȅȓȇLjǖȓȣLjȦǷ %ǷȭLjȣ ȅȇLjȦǷȅ࢓ ǷȓȇLj࢓ UǷLjȍȓ <ȇLjȦǷȅ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝࡱǘࡸȐ<ǷࡷΗΘǽ
ȍȦǡȌǖȇǡ <ǡȍǝLjȍǮ ࣮BLjȍǮȂȓ UȣǷLjȍǮLjȍ࣯
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/ࡺ[<ǗǬࡺࡴࡱ
ȍȦǡȌǖȇǡ <ǡȍǝLjȍǮ ࣮BLjȍǮȂȓ UȣǷLjȍǮLjȍ࣯
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/ࡺ[<ǗǬࡺࡴࡱ
=LjȭǴǷ ࣡ sǡǷȣǝ %ǡȍǷȰȦ ǭȭ࢚ [LjȣLj $LjȂǷȣLj ਆ ȍǮȅȇȰȍǮ LjȣǡǴLjȇ ȓ͎ǡȣ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗbNjȌqDZࡵǬࡳࡹ

UǡȣǷȦȭǷ͏Lj ࣡ UǡȣǷȦȭǷ͏Lj ȇLjȌ

BȰȦǷǗ࢒ LjȣȭǴȢȰLjȅǡ ࣐ȣȰȌࢡUǡȣǗȰȦȦǷȓȍ࣑


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΑࡹWƲǞࡺࡲΑǞe
ǡȦȭ ȣȰȌȌǡȣ ͎ǡȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$Ȍ:LJΝyyे$ƲȐ
ߜ==H[ ࣡ bǴȰȍǝǡȣȦȭȣȰǗȅ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȚbࡴ[ΝǶΗ%ǯ
bǴǡ HψǗǷLjȇ ,ȓȭ [ǗȓȭȦ ǝȣȰȌ ȇǷȍǡ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷǡȚࡴȊ[ǘǁΒ
%ȣȓȓ͎ǡ HȍȅǡȇȦ ǭǡLjȭ࢚ %ȣȓȓ͎ǡ bLjȍȭǡ ࣡ ࣮%ǡȇǖǡȣ [LjǗȅ࣯ HȰȭǝȓȓȣ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǷࡱȌȐࡵेǀyࡵΑǘ
ȅȓ [ȰȅLjȣȍȓ ࣡ ǡȍǗLjȍLj ࣐ǷȦLjȦȭǡȣ࣑
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȗǁ%~xࡷȌȗȗW
,LjȍǮ BLjȦȦǷ͎ǡ ࣡ HȍǗǡ ǮLjǷȍ ࣐ߜߚߛߛ࣑
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗǯࡴΑC=NjCǘΒ

ǡȣǖLjǮLjǷ :ǡȍǷȦ ȇLjȭ BȰȦǷȅࢡ [ȰȌǖǡȣ Ȱȍ͕Ƿ ǝLjȍ bǡȅȍǷȅ UǡȣȌLjǷȍLjȍ

$H=/ ࣐bǴǡȣǡ ǷȦ ȍȓ Bȓ͎ǡȌǡȍȭ sǷȭǴȓȰȭ XǴ͕ȭǴȌ࣑


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZqU=/ȚΘࡺy

ࡵࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bǴǡ ǡȦȭ ǡLjȭǖȓ͔ yȓȰࣱȇȇ ͎ǡȣ ,ǡLjȣ Cǡ͏
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰঃǘ,ǘxǶBxΑǘ
BȰȦǷǗ Bǡȇȓǝ͕ ǭȣȓȌ /ȍȦȭȣȰȌǡȍȭȦ ȓǭ ǷΤǡȣǡȍȭ ȓȰȍȭȣǷǡȦ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/yࡴࡷࡺࡷeǯࡺ,ǘ
BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ CLjȌǡȦ࢒ eȦǡǭȰȇ =ǷȦȭ ȓǭ BȰȦǷǗLjȇ /ȍȦȭȣȰȌǡȍȭȦ Ƿȍ
ߞ ȍǮȇǷȦǴ sǷȭǴ UǷǗȭȰȣǡȦ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗࡶ[ࡺXUq~ΘXΒ
/ UȇLj͕ǡǝ ߟߚ /ȍȦȭȣȰȌǡȍȭȦ Ƿȍ ߜ BǷȍȰȭǡȦ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷǡȚࡴȊ[ǘǁΒ
bǷȌǖȣǡ࢒ sǴ͕ ǷΤǡȣǡȍȭ /ȍȦȭȣȰȌǡȍȭȦ UȇLj͕ǷȍǮ ȭǴǡ [LjȌǡ bȓȍǡ [ȓȰȍǝ
ߠ ǷΤǡȣǡȍȭ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰqXx<ࡵW<:ࡲW
=ȓȣǷȦ =ȓȌǖLjȣǝȓ ࣡ /ȭLjȇǷLjࣱȦ %ȓȭ bLjȇǡȍȭ
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeyΘyࡹǡǡ%ǁΑǘ
[ȭȓȌȠ Cǡ͏ȦȠLjȠǡȣȦ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeȌyΘHेxsࡱ
ȣLjȌǷȣ ࣡ ,LjȍǝȠLjȍ࢓ bLjǖȇǡ࢓ <LjȍȂǷȣLj࢓ [ǴLjȅǡȣ࢓ LjȣǖȰȅLj ǝLjȍ <ȓȍȍLjȅȓȇ
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀࡶ<ǽH/ঃLJ/ǡࡵ
͏ǡȦȓȌǡ UǷȠǡ ࣡ ȣȰȌȌǡȣ
ߛߚ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbǬࡷࡷǶeΑ<Cy
ȇǡǗȭȣȔȍǷǗLj LjȇȇǡȂǡȣLj ȓȦȭLj XǷǗLj UȰȣLj qǷǝLj࢕࢕࢕࢕
ߛߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰbǁȊ,Αࡲ:
bǴǡ Xǡ͎ǡȍǮǡ ࣐BȰȦǷǗ %ȇLjȦȦǡȦ࣑
ߛߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰDZΑࡷǽȊࡳ,,/ȚB
ȰȣǴ͕ȭǴȌǷǗȦ =ǡȦȦȓȍ /ȍȭȣȓ ৾ Bȓ͎ǡȌǡȍȭ
ߛߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/ࡳǯW[:ȌǷǡ/e
LjȇǗȣȓ͚ǡ ȰȣǴ͕ȭǴȌǷǗȦ ͔ǡȣǗǷȦǡȦ
ߛߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰXxࡷࡸǷ,ǷȗΘࡱ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡵࡸ


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष
ǁǽǷȗǽǞǷΘƲश
Ʋा BƲǁƲǶঃǶƲǁƲǶ Ȑȗǡǁǯ LJȍȚǶश ǯƲΘȚष ǷǡDZǽǷष ǀȍȚȐǞष ǶƲDZDZNjȗष ǀȚǷLJDZNjष ƲDZȗNjȍǷƲȗǡǗ
Ȑȗǡǁǯ LJȍȚǶ ॲȦ͕ȍȭǴǡȭǷǗॳा
ǀा DZƲȗ ȊNjǶȚǯȚDZ ȊNjȍƲDZǽǷ LJƲȍǡ ǀƲǞƲǷ ǯƲȍNjȗ ॲȍƲǯNjȗ ȗNjǷǡȐ ǶNjǬƲॳ
ǁा DZƲȗ ȊNjǶȚǯȚDZ LJƲȍǡ ǀNjȐǡॅ DZǽǘƲǶ
LJा [NjǷLJǽǯ LJƲǷ ǘƲȍȊȚ
Njा Uǡǁǯ ǘǡȗƲȍ
Ǘा ǽΒ ǀǡǽDZƲ ॲǀNjȍǶƲǁƲǶঃǶƲǁƲǶ ȚǯȚȍƲǷॳ
ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡹा NjȍǶƲǁƲǶঃǶƲǁƲǶ ƲDZƲȗ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा DZƲȗ ǶȚȐǡǯ ƲNjȍǽȊǞǽǷNjश ȐNjȍȚDZǡǷǘष ȍNjǁǽȍLJNjȍष ϲȚȗNjष ȗNjȍǽǶȊNjȗा
ǀा DZƲȗ ǶȚȐǡǯ ǷǝǷȓȠǴȓȍǡश ƲǷǘǯDZȚǷǘष ǯȚDZǡǷȗƲǷǘष ǀǽǷƲǷǘष ȐƲȍǽǷष ǶƲȍƲǯƲȐष
ǘDZǽǁǯNjǷȐȊǡNjDZषȗȍǡƲǷǘDZNj
ǁा DZƲȗ ǶȚȐǡǯ ǗǴȓȣǝȓȠǴȓȍǡश LJǡȊNjȗǡǯष ǁǽǷȗǽǞǷΘƲश ǀƲǷǬǽष ǘǡȗƲȍष ǞƲȍȊƲष ǘƲǶǀȚȐष
ȐƲȐƲǷLJǽष ǯNjǁƲȊǡष ȚǯȚDZNjDZNjॄ LJǡǘNjȐNjǯ ǁǽǷȗǽǞǷΘƲश ǀǡǽDZƲष LJǽȚǀDZNj ǀƲȐȐष ǯNjȐǽष
ƲȍǀƲǀष ȗNjǞΘƲǷ

ࡵࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LJा DZƲȗ ǶȚȐǡǯ ȌǡȌǖȣLjȍȓȠǴȓȍǡश ǯNjȗǡȊȚǷǘष ǯNjǷLJƲǷǘष ȗƲǀǽȍǡǷष LJȍȚǶष ǀNjLJȚǘा
Njा DZƲȗ ǶȚȐǡǯ ǡȇǡǗȭȣȓȠǴȓȍǡश ǯNjΘǀǽƲȍLJष LJȍȚǶ NjDZNjǯȗȍǡǯष : ȊDZƲΘNjȍष LJƲǷ ƲDZƲȗ
ǶȚȐǡǯ ȐΘǷȗǞNjȐǡΝNjȍा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष ȍǡȗǶNj LJƲǷ
ȐǡǷǯǽȊƲȐǡा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष ȍǡȗǶNj
LJƲǷ ȐǡǷǯǽȊƲȐǡ LJƲDZƲǶ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष ȍǡȗǶNj LJƲǷ
ȐǡǷǯǽȊƲȐǡ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ
ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ǀNjȍȚȊƲश ঐƲǘƲǡǶƲǷƲ ȗNjǯǷǡǯ LJƲǷ
ǁƲȍƲ ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJƲȍǡ ΑǡLJNjǽ ǶȚȐǡǯ ΘƲǷǘ ȐȚLJƲǞ LJǡDZǡǞƲȗि bNjǯǷǡǯ ƲȊƲǯƲǞ
ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ǶȚȐǡǯ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗि঑
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡵࡺ


ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ǶNjǷǘǘȚǷƲǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJƲǷ ƲDZƲȗ
ȊNjǶȚǯȚDZ ǶȚȐǡǯ ΘƲǷǘ ǶNjȍNjǯƲ ȊǡDZǡǞा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ LJNjǷǘƲǷ DZNjǀǡǞ ȗNjȍȊNjȍǡǷǁǡ ǶNjǷǘNjǷƲǡ ȐǡǷǯǽȊƲȐǡ ǶȚȐǡǯ
LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjǶǀƲǘǡƲǷ ǯNjȗȚǯƲǷ ΘƲǷǘ DZNjǀǡǞ ȗNjȍȊNjȍǡǷǁǡ
ॲȍNjDZƲȐǡ ƲǷȗƲȍƲ ǯNjȗȚǯƲǷ LJƲǷ ǞƲȍǘƲ ǷǽȗƲȐǡ ǶȚȐǡǯॳा %ȚȍȚ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ
ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ LJƲȊƲȗ ǶNjǷǘǡǷȗNjȍǷƲDZǡȐƲȐǡ ǯNjȗȚǯƲǷ LJƲǷ
ȗNjǶȊǽ ǶȚȐǡǯा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍ
ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȍǡȗǶNjष LJƲǷ ȐǡǷǯǽȊƲȐǡ ǶȚȐǡǯा
Ǭा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯष ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȗNjǯǷǡǯ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡǷǡȗƲȐ ȚǷȗȚǯ
ǶNjǶǀNjȍǡǯƲǷ ǯNjLJƲDZƲǶƲǷ ǶƲǯǷƲ LJƲDZƲǶ ǀNjȍǶȚȐǡǯा
ǯा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǶƲǡǷǯƲǷ
ǀȚǷΘǡঃǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘNjDZƲǀǽȍƲȐǡǯƲǷ ȗNjǯǷǡǯ ǯȍNjƲȐǡ ǀNjȍǶȚȐǡǯा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ȗNjǯǷǡǯ ǀȚǷΘǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ LJƲǷ LJǡǞƲȐǡDZǯƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǶNjǷǘNjǷƲǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष ȍǡȗǶNj

LJƲǷ ȐǡǷǯǽȊƲȐǡा
LJा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǶNjǷǘNjǷƲǡ ǶNjDZǽLJǡष ǡǷȗNjȍΑƲDZ ǷƲLJƲष ǞƲȍǶǽǷǡष LJƲǷ
Ʋǯǽȍा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ LJƲǷ
ǶNjǷǁǽǀƲ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ǀNjǀƲȐ LJƲǷ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा [NjȗNjDZƲǞ
ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷǁǽǀƲ ǶNjǶƲǡǷǯƲǷ ǯƲȍΘƲा
<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ
%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯा %ȚȍȚ

ࡶࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǬȚǘƲ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ƲǘƲȍ LJƲȊƲȗ
ȐƲDZǡǷǘ ǀNjȍǁNjȍǡȗƲ ȊNjǷǘƲDZƲǶƲǷ LJƲDZƲǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा UNjǷǘƲDZƲǶƲǷ
ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡǁNjȍǡȗƲǯƲǷ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǯǷǡǯ LJƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ƲȗƲȚȊȚǷ ǀNjǷLJƲঃǀNjǷLJƲ ΘƲǷǘ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃ
ǶȚȐǡǯा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲष ǯNjǘǡƲȗƲǷ ǡǷȗǡष ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚ஼ ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡲाࡹ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯष
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ
LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡶࡲ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ
ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ
ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡲाࡺ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡॅǬNjǷǡȐঃǬNjǷǡȐ
ƲDZƲȗ ǶȚȐǡǯ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǯƲȗNjǘǽȍǡॅǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ǷƲLJƲ ॲǶNjDZǽLJǡ LJƲǷ
ǞƲȍǶǽǷǡॳ LJNjǷǘƲǷ ȊNjȍǁƲΘƲ
LJǡȍǡ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡঃ
ǶȚȐǡǯ LJNjǷǘƲǷ LJǡȐǡȊDZǡǷ

ࡶࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ ΘƲǷǘ ƲȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷष
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡲाࡲࡱ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡶࡴ


UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा XǡȗǶNj ॲȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष LJƲǷ ȐǡǷǯǽȊƲȐǡॳ
ࡳा CƲLJƲ ॲǶNjDZǽLJǡष ǡǷȗNjȍΑƲDZ ǷƲLJƲष ǞƲȍǶǽǷǡष LJƲǷ Ʋǯǽȍॳ
ࡴा bNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ
ࡵा BNjǷǁƲȍǡ LJƲǷ ǶNjǷǁǽǀƲ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ
ǶȚȐǡǯ ƲȗƲȚ ǀƲȍƲǷǘঃǀƲȍƲǷǘ ΘƲǷǘ LJƲȊƲȗ LJǡǬƲLJǡǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q// ǝLjȍ q///


BNjǷƲǶȊǡDZǯƲǷ DZƲǀǽȍƲȐǡ ȚǷΘǡ BȚȐǡǯ LJƲDZƲǶ UNjȍȗȚǷǬȚǯƲǷ %NjȍƲǯ LJƲǷ bƲȍǡ

bȰȂȰLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ΘƲǷǘ LJǡLJNjǷǘƲȍ LJƲǷ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ॲȐȚǶǀNjȍ
ǀȚǷΘǡ LJƲǷ ǁƲȍƲ ǶNjǶǀȚǷΘǡǯƲǷॳ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ LJNjǷǘƲȍ ȐNjȊNjȍȗǡ
ȐȚƲȍƲঃȐȚƲȍƲ ΘƲǷǘ ǀNjȍȐȚǶǀNjȍ LJƲȍǡ ƲDZƲǶष DZǡǷǘǯȚǷǘƲǷ ȐNjǯǡȗƲȍ ॲǷƲȗȚȍƲDZ ǀȚǷΘǡ
LJƲǷ NjDZNjǯȗȍǽǷǡǯॳ ȐNjǁƲȍƲ ȐNjǯȐƲǶƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȗǡǷǘǯƲȗ ǶȚȐǡǯƲDZǡȗƲȐ
ΘƲǷǘ ǀƲǡǯ LJƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯƲǡLJƲǞঃǯƲǡLJƲǞ ǀȚLJƲΘƲा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ǀNjȍǶȚȐǡǯ LJƲDZƲǶ ǯǽDZƲǀǽȍƲȐǡǷΘƲ LJNjǷǘƲǷ ȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJNjǷǘƲǷ ȐNjȐƲǶƲ LJƲǷ ǶNjǷǘNjDZƲǀǽȍƲȐǡ
ǯȍNjƲȐǡ ǶȚȐǡǯ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
LJǡȊNjȍȗƲǷǘǘȚǷǘǬƲΒƲǀǯƲǷ LJƲǷ ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ LJǡȍǡ ȐNjǷLJǡȍǡष ǽȍƲǷǘ DZƲǡǷष
LJƲǷ ƲDZƲǶ ȐNjǶNjȐȗƲा

ࡶࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊƲǷLJȚƲǷ LJƲǷ ȍNjǗNjȍNjǷȐǡ ǁǽǷȗǽǞ ǯȍNjƲȐǡ ǶȚȐǡǯ LJNjǷǘƲǷ
ȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjDZƲǀǽȍƲȐǡ ǯȍNjƲȐǡ ǶȚȐǡǯ
ǶNjȍNjǯƲ LJNjǷǘƲǷ ǘNjȍƲǯƲǷ LJƲǷ ȗƲȍǡƲǷा UƲǷLJȚƲǷ LJƲǷ ȍNjǗNjȍNjǷȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ
LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ LJǡ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǘȚȍȚ ǶƲȚȊȚǷ LJƲȍǡ ǶƲȗNjȍǡঃǶƲȗNjȍǡ DZƲǡǷ ΘƲǷǘ ǘȚȍȚ ȗNjDZƲǞ ȊNjȍȐǡƲȊǯƲǷा [NjDZƲǡǷ ǡȗȚष
ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘȚǷLJƲǷǘ ȊȍƲǯȗǡȐǡ ǶƲȚȊȚǷ ȊƲǯƲȍ LJǡ ǀǡLJƲǷǘ ǯǽȍNjǽǘȍƲϯ ǘNjȍƲǯॅ
ȗƲȍǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯNjǀȚȗȚǞƲǷ LJƲǷ ǯNjȗNjȍȐNjLJǡƲƲǷ LJƲǷƲ ΘƲǷǘ LJǡǶǡDZǡǯǡा
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȐNjǁƲȍƲ ǀNjȍǯNjDZǽǶȊǽǯ ƲǷȗƲȍƲ ǘȍȚȊ ΘƲǷǘ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJƲǷ ǘȍȚȊ ΘƲǷǘ ƲǯƲǷ ǀNjȍDZƲȗǡǞ ǘNjȍƲǯƲǷ LJƲǷ ȗƲȍǡƲǷा UNjDZƲȗǡǞ
ǶƲȚȊȚǷ ȊȍƲǯȗǡȐǡ ǯǽȍNjǽǘȍƲϯॅ ȗƲȍǡ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐNjǁƲȍƲ
ǶƲǷLJǡȍǡ ƲȗƲȚ ǯNjDZǽǶȊǽǯ LJƲDZƲǶ ǶNjǷΘNjDZƲȍƲȐǯƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ ȗNjȍȐNjǀȚȗ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯƲȍΘƲ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjǷȗȚǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷƲǶȊǡDZǯƲǷ
ǞƲȐǡDZ NjDZƲǀǽȍƲȐǡ ǯȍNjƲȐǡ ǶȚȐǡǯ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ LJƲDZƲǶ ȐȚƲȗȚ ȊNjȍȗȚǷǬȚǯƲǷ
ȐNjǷǡा
UNjȍȐǡƲȊƲǷ ǶNjǷǘƲǬƲȍ LJǡȊNjȍDZȚǯƲǷ ǘȚȍȚ ȚǷȗȚǯ LJǡDZƲǯȚǯƲǷ ȐNjǀNjDZȚǶ ȊȍǽȐNjȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ ƲǘƲȍ LJƲDZƲǶ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘȚƲȐƲǡ ǶƲȗNjȍǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲǷ LJƲȊƲȗ ǶNjǷΘƲǶȊƲǡǯƲǷ LJNjǷǘƲǷ ǀƲǡǯ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा %ȚȍȚ
ǞƲȍȚȐ ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष ǶƲȚȊȚǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ƲǬƲȍ ΘƲǷǘ ȐNjȐȚƲǡ
LJNjǷǘƲǷǶƲȗNjȍǡȊNjǶǀNjDZƲǬƲȍƲǷाeǷȗȚǯǶNjLJǡƲȊNjǶǀNjDZƲǬƲȍƲǷΘƲǷǘǞƲȍȚȐLJǡȊNjȍȐǡƲȊǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjǀNjDZȚǶ ǶNjǶȚDZƲǡ ǯNjǘǡƲȗƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ǯǽǷLJȚȐǡǗ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
LJNjǷǘƲǷ ȗNjȍȗǡǀ ȐNjȍȗƲ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ LJǡ ǯNjDZƲȐा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶǀNjDZƲǬƲȍƲǷा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ
LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǀNjȍǯNjDZǽǶȊǽǯ LJƲǷ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjǷƲǶȊǡDZƲǷΘƲǷǘ ƲǯƲǷLJǡȗƲǶȊǡDZǯƲǷLJƲDZƲǶȊNjǶǀNjDZƲǬƲȍƲǷा
ǀा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷƲǶȊǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ȊNjȍ ǯNjDZǽǶȊǽǯ LJNjǷǘƲǷ
ȊNjǷǡDZƲǡƲǷ LJƲȍǡ ǘȚȍȚा

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡶࡶ


ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ NjΑƲDZȚƲȐǡ ǶƲȚȊȚǷ ȐƲȍƲǷ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ
ȊNjǷƲǶȊǡDZƲǷ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲा
ǀा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ NjΑƲDZȚƲȐǡ ǯNjȊƲLJƲ ȐNjȗǡƲȊ ȊNjȐNjȍȗƲ LJǡLJǡǯष ȐNjǁƲȍƲ
ǀNjȍǯNjDZǽǶȊǽǯ ǶƲȚȊȚǷ ǡǷLJǡΑǡLJȚा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷNjȍǡǶƲ ȐƲȍƲǷ LJƲǷ NjΑƲDZȚƲȐǡ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ LJNjǷǘƲǷ DZƲȊƲǷǘ
LJƲLJƲ LJƲǷ ȐǡǯƲȊ ȊƲǷȗƲǷǘ ǶNjǷΘNjȍƲǞ ȚǷȗȚǯ ȗNjȍȚȐ ǀNjȍǯNjǶǀƲǷǘा

UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjDZƲǬƲȍ LJƲȍǡ ǀȚLJƲΘƲ ȐNjȗNjǶȊƲȗ ƲȗƲȚ ǶȚȐǡǯঃǶȚȐǡǯ DZǽǯƲDZ
LJƲNjȍƲǞष ȐNjȍȗƲ ǀNjȍǘȚȍȚ ȊƲLJƲ ȐNjǷǡǶƲǷ ǶȚȐǡǯ DZǽǯƲDZ LJƲNjȍƲǞǷΘƲा
LjǴLjȍ UǡȍǮLj͕LjLjȍ eȭLjȌLj
ȠǷǗ Bǡǝȇǡ͕ ȓǭ /ȍǝȓȍǡȦǷLjȍ ȰȇȭȰȣǡȦ ǖ͕ ȇΤ͕ Xǡ͎
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰxBࡶࡵȊ<ǯW[
bLjȍLjǴ Ƿȣ ࣐Ǘȓ͎ǡȣ࣑ ࣡ B ͔ %LjȌǡȇLjȍ ǖ͕ ȇΤ͕ Xǡ͎ ǭȭ࢚ ȣǷȦǷLj :ȓǝǷǡ ৾
ߜ %LjȦǷȭLj <LjȣLj͏ǷȭLjȍ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǬeࡹǶेǗǞࡶXǘ
=LjǮȰ :Lj͏Lj x ȇǡǗȭȣȓȍǷǗ BȰȦǷǗ ǖ͕ ȇΤ͕ Xǡ͎ ǭȭ࢚ <ǡǗȰǖȰȍǮ [LjȅȭǷ
ߝ <LjȣLj͏ǷȭLjȍ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$$ࡵ%ࡴǡȗȊǯ
%LjȌǡȇLjȍ LjȇǷ ࣡ bLjǖȰǴ <ȣǡLjȦǷ eȭLjȣLj %ǷȣǷ ǡȦLj %ǡȦǷȍǮ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗǗNjCWΝǡUઝȗਰࡴࡱࡸȐ
BȰȦǷȅ bȣLjǝǷȦǷȓȍLjȇ [LjȦLjȅ x BȰȦǷȅ Bȓǝǡȣȍ ࣐:LjȣǷǡȭȍǷȅLj࣑
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸঃࡱ[ΑǷǘ
bLjȇǡȌȠȓȍǮ ȠǷ [Ƿȇȓȅǡȅ [ǷȂȰȍȂȰȍǮ ࣟ UǡȣȭȰȍȂȰȅLjȍ ȇLjȭ BȰȦǷȅ bȣLjǝǷȦǷȓȍLjȇ
ߠ BǷȍLjȍǮȅLjǖLjȰ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǁCȚ<Νǀbxǯࡵ

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǶNjDZǡȊȚȗǡश

ࡶࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡲाࡲࡲ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ
LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶƲǡǷ
ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ
ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡶࡸ


bƲǀNjDZ ࡲाࡲࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ


UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶƲǡǷǯƲǷ ǶȚȐǡǯ
LJNjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ
ȍǡȗǶǡȐ ΘƲǷǘ ǀNjǷƲȍ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJNjǷǘƲǷ
ǀƲǡǯ
BNjǶƲǞƲǶǡ LJƲǷ
ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ
ȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ
LJƲDZƲǶ ǀNjȍǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǶȚȐǡǯ ƲǷȐƲǶǀNjDZ LJNjǷǘƲǷ
ȊNjȍǁƲΘƲ LJǡȍǡ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǶȚȐǡǯ LJNjǷǘƲǷ LJǡȐǡȊDZǡǷ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǶȚȐǡǯ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐ

BNjǷΘƲǬǡǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ LJNjǷǘƲǷ ǀƲǡǯष
ǶNjǷƲȍǡǯष LJƲǷ ǯȍNjƲȗǡǗ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ ƲȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼ ȊNjDZƲǯȐƲǷƲƲǷ
ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ
ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ
ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍǡǯȚȗǷΘƲा

ࡶࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡲाࡲࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȐNjDZȚȍȚǞ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘǡǯȚȗǡ ȊNjDZƲǬƲȍƲǷ



LJNjǷǘƲǷ ǀƲǡǯि

ࡳ ȊƲǯƲǞ ΘƲǷǘ ǶNjǷȚȍȚȗǶȚ ǀNjȍǞƲȐǡDZि

<NjȐȚDZǡȗƲǷ ƲȊƲǯƲǞ ΘƲǷǘ ǯǡȍƲঃǯǡȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲDZƲǶǡ



LJƲDZƲǶ ȊȍǽȐNjȐ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ LJǡ ǯNjDZƲȐि

=ƲǷǘǯƲǞ ƲȊƲ ΘƲǷǘ ȊNjȍDZȚ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ



ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍि

ȊƲǯƲǞ ǯNjǘǡƲȗƲǷ ȊNjǷǘƲǬƲȍƲǷ LJǡ ǯNjDZƲȐ ǀNjȍLJƲǶȊƲǯ ǀƲǘǡ



ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ ȦǡȇLjȍȂȰȭȍ͕Lj

Ʋǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ DZNjǀǡǞ LJƲǷ
ȗƲDZNjǷȗƲ ǀNjȍǶƲǡǷष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ
LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ ǶNjȍNjǯƲ ȊǡDZǡǞ LJƲǷ ǶNjȍNjǯƲ ǯNjǞNjǷLJƲǯǡा %ȚȍȚ LJƲȊƲȗ
ǶNjǷΘNjLJǡƲǯƲǷ ȊNjDZƲȗǡǞƲǷ ǶƲǷLJǡȍǡ LJƲǷ ǶNjǷǁƲȍǡ LJȚǯȚǷǘƲǷ ȊNjDZƲȗǡǞ LJNjǷǘƲǷ
ȊNjǶǀǡƲΘƲƲǷ ȐNjǯǽDZƲǞ ǶƲȚȊȚǷ LJƲȍǡ ȐȚǶǀNjȍ LJƲǷƲॅȊNjDZƲȗǡǞƲǷ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ
LJǡ DZȚƲȍ ȐNjǯǽDZƲǞा
eȂǷ <ȓȌȠǡȭǡȍȦǷ

ࡲा [NjǀȚȗǯƲǷ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ǀNjȍLJƲȐƲȍǯƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡǷΘƲि


ࡳा ǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ƲȊƲǯƲǞ ƲDZƲȗ ǶȚȐǡǯ [ƲȐƲǷLJǽष %ƲǶǀȚȐष LJƲǷ
<NjǁƲȊǡि
ࡴा [NjǀȚȗǯƲǷƲDZƲȗǶȚȐǡǯȊNjǷǘǘƲǷȗǡΘƲǷǘƲLJƲLJǡȐNjǯǡȗƲȍǯǡȗƲषΘƲǷǘǶNjǷǘǞƲȐǡDZǯƲǷ
ǀȚǷΘǡ ȍǡȗǶǡȐि
ࡵा ȊƲ ΘƲǷǘ ƲǷLJƲ ǯNjȗƲǞȚǡ ȗNjǷȗƲǷǘ ǡȇǡǗȭȣȓȠǴȓȍǡि
ࡶा NjȍƲȐƲDZ LJƲȍǡ ǶƲǷƲ ƲDZƲȗ ǶȚȐǡǯ bǡǗƲि

eǷǡȗ ࡲ ঃ ǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ BȚȐǡǯ ࡶࡺ


ࡷा [NjǀȚȗǯƲǷ ȗǡǘƲ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶƲȐȚǯ ǯNj LJƲDZƲǶ ǯƲȗNjǘǽȍǡ ǘƲǶNjDZƲǷि
ࡸा :NjDZƲȐǯƲǷ ǷƲǶƲ ȗNjǶȊǽ LJǡ ǀƲΒƲǞ ǡǷǡश
Ʋा =ƲǶǀƲȗश
ǀा [NjLJƲǷǘश
ǁा NjȊƲȗश

ࡹा %ƲǶǀƲȍ LJǡ ƲȗƲȐ ǶNjȍȚȊƲǯƲǷ ǬƲȍƲǯ स


ࡺा [NjǀȚȗǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯह
ࡲࡱा ȊƲ ȐƲǬƲ ΘƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ ȚǷȐȚȍ ȍǡȗǶNjि

eȍȭȰȅ LjǴLjȍ UǡȍǮLj͕LjLjȍ ǝLjȍ


XǡǭǡȣǡȍȦǷ =LjǷȍ࢓ [ǗLjȍ WX
ȓǝǡ ǝǷǖLj͏LjǴ ǷȍǷ࢒

%ƲǶǀƲȍ ࡲा ࡲ WX ȓǝǡ eǷǡȗ ࡲ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡷࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


KEMENTRIAN PENDIDIKAN, KEBUDAYAAN, RISET, DAN KEBUDAYAAN
REPUBLIK INDONESIA, 2021
Buku Panduan Guru Seni Musik
untuk SMA/SMK Kelas X

ISBN: 978‐602‐244‐301‐8 (jil.1 )

4-(3 
$*2/+.1?2( ADMSTJ RSQTJSTQ 
FDMQD LTRHJ eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡷࡲ
eȍǷȭ ߜ ࢒
ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %ǡȍȣǡ BȚȐǡǯ
XNjǯǽǶNjǷLJƲȐǡ ƲDZǽǯƲȐǡ ΒƲǯȗȚ ࡹ Η ࡵࡶ ǶNjǷǡȗ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǷƲDZǡ LJƲǷ ǶNjȍNjȐȊǽǷȐ ǀȚǷΘǡ ǶȚȐǡǯ LJƲȍǡ ǀNjȍƲǘƲǶ
ȐȚǶǀNjȍ ǀȚǷΘǡ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ
ǯNjǀȚȗȚǞƲǷ ǞǡLJȚȊ ȐNjǞƲȍǡঃǞƲȍǡ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯ LJNjǷǘƲǷ
ȊNjǶƲǷǗƲƲȗƲǷ ȗNjǯǷǽDZǽǘǡ ǀNjȍǶȚȐǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjDZƲǀǽȍƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǀǡLJƲǷǘ ȐNjǷǡ LJƲǷ
ǯNjǡDZǶȚƲǷ ΘƲǷǘ DZƲǡǷ ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǡDZƲǡƲǷ ƲǯƲǷ ǯƲȍΘƲ ȊȍǡǀƲLJǡ LJƲǷ ǽȍƲǷǘ
DZƲǡǷ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjǀƲǘƲǡ ǀƲǘǡƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǀNjȍȊǡǯǡȍ LJƲǷ ǀNjǯNjȍǬƲ ƲȍȗǡȐȗǡǯ
NjȐȗNjȗǡǯा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǶǀƲǷǘȚǷ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲ

ǡȦȅȣǷȠȦǷ UǡȌǖǡȇLjȂLjȣLjȍ
UƲLJƲ ȗƲǞƲȊ ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷǡȗ ǯNjLJȚƲ ǡǷǡष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ DZNjǀǡǞ
DZȚƲȐ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǶNjLJǡƲ ǀȚǷΘǡঃǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा
NjǷǘƲǷ ǀNjǯƲDZ ȊNjǷǘNjȗƲǞȚƲǷ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ ȊNjǶƲǞƲǶƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȊƲLJƲ ȚǷǡȗ ȐNjǀNjDZȚǶǷΘƲ ॲȚǷǡȗ ࡲॳष ǘȚȍȚ LJƲȊƲȗ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ
ȊNjȐNjȍȗƲ LJǡLJǡǯ ǯNjȊƲLJƲ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा NjǷǘƲǷ
ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǶƲǞƲǶƲǷ ΘƲǷǘ DZȚƲȐ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJNjǷǘƲǷ
DZNjǀǡǞ ǶNjǷLJƲDZƲǶ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ॲȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡॳा
UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjDZƲǬƲȍǡ ǯǽǶȊǽǷNjǷঃǯǽǶȊǽǷNjǷ LJƲȍǡ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǗȍƲȐƲष ǶǽȗǡǗष ȗNjǶƲष LJƲǷ ǯƲLJNjǷȐƲा <ǽǶȊǽǷNjǷ ǶȚȐǡǯ
ǡǷǡ LJǡǀNjǷȗȚǯ ǀNjȍLJƲȐƲȍǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǡȍƲǶƲ ॲȍǡȗǶNjष ȗNjǶȊǽष
ǯNjȗȚǯƲǷॳष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡा [NjȗNjDZƲǞ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶǡDZǡǯǡ
ȊNjǶƲǞƲǶƲǷ ȗNjǷȗƲǷǘ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ
ǶƲǁƲǶ ǀNjǷȗȚǯ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ǶNjDZǡȊȚȗǡश ǶȚȐǡǯ ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष

ࡷࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा <DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ
LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǀNjǷȗȚǯ ǘƲΘƲ ǶȚȐǡǯश ΝƲǶƲǷ
UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇॳष ΝƲǶƲǷ XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳष Ʋȍǽǯ ॲLjȣȓȢȰǡॳष
<DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳष XǽǶƲǷȗǡǯ ॲXȓȌLjȍȭǷǗॳष ƲǀƲLJ ǯNjঃࡳࡱ ॲBȓǝǡȣȍॳष LJƲǷ ƲǀƲLJ
ǯNjঃࡳࡲा UƲLJƲ Ǯǡȍȣǡ ǶȚȐǡǯ ǶǽLJNjȍǷ ǶNjǷǁƲǯȚȊ ǯƲȗNjǘǽȍǡ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍष
ȐNjȊNjȍȗǡ ȠȓȠ࢓ ȣȓǗȅ࢓ ȂLj͚͚࢓ ǖȇȰǡȦ࢓ X৾࢓ ǴǷȠ ǴȓȠ࢓ ǮȓȦȠǡȇष LJƲǷ DZƲǡǷঃDZƲǡǷा
ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjȍLJƲDZƲǶ ȗNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊǡDZǡǞा ƲDZƲǶ ǞƲDZ ǡǷǡष ȊNjȍƲǷ ǘȚȍȚ ȐƲǷǘƲȗ ȊNjǷȗǡǷǘ
LJƲDZƲǶ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ LJƲǷ ǶNjǶƲǷLJȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐNjǞǡǷǘǘƲ ȊƲLJƲ ƲǯǞǡȍ
ȚǷǡȗ ࡳ ǡǷǡष ǶNjȍNjǯƲ ǶƲǶȊȚ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ
ȗNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȊǡDZǡǞा
UƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷा %ȚȍȚ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ
ǶǽLJNjDZ LJƲǷ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷLJǡȐǡ LJǡ DZǡǷǘǯȚǷǘƲǷ
ȐNjǯǽDZƲǞष ȐƲȍƲǷƲ ȊȍƲȐƲȍƲǷƲष ȐNjȍȗƲ ǯǽǷLJǡȐǡ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲǷ ȗƲDZNjǷȗƲ ΘƲǷǘ
LJǡǶǡDZǡǯǡ ǽDZNjǞ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡ ȐNjǯǽDZƲǞ ǶƲȐǡǷǘঃǶƲȐǡǷǘा NjǷȗȚǯ LJƲǷ
ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ
ǀƲǘǡƲǷ ƲDZȗNjȍǷƲȗǡǗ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ȍȚǷȗȚȗƲǷ DZƲǷǘǯƲǞঃDZƲǷǘǯƲǞ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȊƲLJƲ ȐNjȗǡƲȊ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷा
eǷȗȚǯ LJƲȊƲȗ ǶNjǶȚLJƲǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ ǶNjDZƲǯȐƲǷƲǯƲǷ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȊƲLJƲ ȚǷǡȗ ࡳ ǡǷǡष ǶƲǯƲ ƲǯƲǷ LJǡȐƲǬǡǯƲǷ ȊƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷȗȚǯ LJNjDZƲȊƲǷ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲष ΘƲǷǘ ƲǯƲǷ LJǡǯNjDZǽǶȊǽǯǯƲǷ
ǯNj LJƲDZƲǶ ࡵ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷा BƲȐǡǷǘঃǶƲȐǡǷǘ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȊNjȍȗNjǶȚƲǷा [NjȗǡƲȊ ȊNjȍȗNjǶȚƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ƲLJƲDZƲǞ ࡵࡶ ǶNjǷǡȗष LJNjǷǘƲǷ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjǷǡDZƲǡƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ߛ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߛ ǝLjȍ ߜ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ஼ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡȊNjȍǯNjǷƲDZǯƲǷ
LJNjǷǘƲǷ ǀNjȍǶƲǁƲǶঃǶƲǁƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǗȍƲȐƲष ǶǽȗǡǗष
ȗNjǶƲष LJƲǷ ǯƲLJNjǷȐƲा UNjǶǀNjǷȗȚǯƲǷ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ǡǷǡ LJǡȊNjǷǘƲȍȚǞǡ ǽDZNjǞ
ǀNjȍǀƲǘƲǡ ȚǷȐȚȍঃȚǷȐȚȍ LJƲDZƲǶ ǶȚȐǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ
ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ ǶƲȚȊȚǷ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ǘȍȚȊ ǯNjǁǡDZ
ॲLJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗॳ ȚǷȗȚǯ ǶNjǶȊNjȍǶȚLJƲǞ LJƲDZƲǶ ǶNjǶȊNjDZƲǬƲȍǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡷࡴ


ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ
ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ
LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ
ॲΑǡLJNjǽ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚ ࡲॳा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ
NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷ ƲȗƲȚ ȊNjȍǡDZƲǯȚ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǶȊNjDZƲǬƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा
UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ
LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ
ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ
ǀƲǘǡ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ
ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा <NjǘǡƲȗƲǷ
ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߜ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߝ ǝLjȍ ߞ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǀNjDZƲǬƲȍ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ǶȚȐǡǯ ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष
ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZा UƲLJƲ ȗƲǞƲȊƲǷ ǡǷǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǘǘȚǷƲǯƲǷ ǗǽȍǶƲȐǡ ǀNjȍǶƲǡǷ LJƲDZƲǶ ǀNjǷȗȚǯ ǘȍȚȊ ǀNjȐƲȍ ॲȓȣǗǴǡȦȭȣLjष
ȊƲLJȚƲǷ ȐȚƲȍƲष ƲǷȐƲǶǀNjDZ ǯƲȍƲΒǡȗƲǷॅǘƲǶNjDZƲǷष LJƲǷ DZƲǡǷঃDZƲǡǷॳा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ
ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ
LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ

ࡷࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ॲΑǡLJNjǽ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚ ࡳष ࡴष ࡵष LJƲǷ ࡶॳा NjǷǘƲǷ
LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष
ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷ
ƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ
ȗNjǷȗƲǷǘ Ǯǡȍȣǡ ǶȚȐǡǯा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ
ȊNjǷǘƲȍȚǞ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ
ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ǯȍNjƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ
ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ
ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߝ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߟ ǝLjȍ ߠ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷष ǘȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊȍǽȐNjȐ
ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶƲǷLJǡȍǡ LJƲǷ ǯNjDZǽǶȊǽǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ ǶNjǷǘNjDZƲǀǽȍƲȐǡǯƲǷ ȚǷȐȚȍঃ
ȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJNjǷǘƲǷ
DZNjǀǡǞ ȍǡǷǁǡ LJƲǷ ȐNjǁƲȍƲ ǶȚȐǡǯƲDZा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡǶǡȗƲȐǡॅǶNjǶƲǡǷǯƲǷ
ƲDZƲȗঃƲDZƲȗ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȊNjDZƲǬƲȍǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊǡDZǡǞा %ȚȍȚ LJƲȊƲȗ ȊȚDZƲ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ LJǡȊNjȍȐǡƲȊǯƲǷ
ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ
ȊƲǷLJȚƲǷ ǘȚȍȚ ॲΑǡLJNjǽ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚ ࡲष ࡳष ࡴॳा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ
ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡷࡶ


NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ
ȐǡǯƲȊ LJƲǷ ƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ
ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ
ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ
ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ
ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ
ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ
ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯष ȐNjȍȗƲ ǶNjǶǀȚƲȗ ǯƲȍΘƲ
ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߞ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߡ ǝLjȍ ߢ࢚
Ʋा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯष ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯष LJƲǷ ȊNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ ƲǘƲȍ LJƲȊƲȗ DZNjǀǡǞ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǶȚȐǡǯ
ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ
LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹष ǘȚȍȚ LJƲȊƲȗ ǶNjǶƲȐȗǡǯƲǷ
ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯ LJƲDZƲǶ
ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ȐNjǷǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJNjǷǘƲǷ ȚǷȐȚȍ ǘNjȍƲǯॅ
ȗƲȍǡ ΘƲǷǘ LJǡȊǡDZǡǞा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ ȗƲǞƲȊ ȊNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȐƲǬǡƲǷ ȐNjǷǡ LJƲǷ ǶȚȐǡǯ ΘƲǷǘ ǯȍNjƲȗǡǗ
LJƲǷ DZNjǀǡǞ ǶNjǷƲȍǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ LJƲǷ ȊNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ ȐNjǷǡ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjDZǡǞƲȗ LJƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष
ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ ȊƲLJƲ ȚǷȐȚȍ ȐNjǷǡ ΘƲǷǘ ǶNjDZǡǀƲȗǯƲǷ ǘNjȍƲǯ
LJƲǷ ȗƲȍǡा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅ
ƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjȍƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ LJƲDZƲǶ

ࡷࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȐȚƲȗȚ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ
LJƲǷ ȊNjǷǘƲȍȚǞ ǘNjȍƲǯॅȗƲȍǡ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ
ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ
ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ
ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ LJƲDZƲǶ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡा <NjǘǡƲȗƲǷ ǡǷǡ
ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ / ǝLjȍ //


BNjǶƲǞƲǶǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ BȚȐǡǯ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǷƲDZǡ LJƲǷ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ
ǶNjDZƲDZȚǡ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǶƲǡǷǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǶƲǡǷǯƲǷ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ǯNjǀȚȗȚǞƲǷ ǞǡLJȚȊ ȐNjǞƲȍǡঃǞƲȍǡ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚ LJƲǷ
ǀNjȍǯNjDZǽǶȊǽǯ LJNjǷǘƲǷ ȊNjǶƲǷǗƲƲȗƲǷ ȗNjǯǷǽDZǽǘǡ ǀNjȍǶȚȐǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǡDZƲǡƲǷ ƲǯƲǷ ǯƲȍΘƲ ȊȍǡǀƲLJǡ LJƲǷ ǽȍƲǷǘ
DZƲǡǷ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjǀƲǘƲǡ ǀƲǘǡƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǀNjȍȊǡǯǡȍ LJƲǷ ǀNjǯNjȍǬƲ ƲȍȗǡȐȗǡǯঃ
NjȐȗNjȗǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯा

BLjȭǡȣǷ Uȓȅȓȅ
NjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲȍǡ ǶȚȐǡǯ ȐƲǷǘƲȗ LJǡȊNjǷǘƲȍȚǞǡ ǽDZNjǞ ǯNjȗNjȍǯƲǡȗƲǷ ƲǷȗƲȍ ȚǷȐȚȍঃ
ȚǷȐȚȍ ǶȚȐǡǯ LJƲDZƲǶ ǶNjǶǀNjǷȗȚǯ ȐȚƲȗȚ ǯƲȍΘƲ ǯǽǶȊǽȐǡȐǡ ǶȚȐǡǯा eǷȐȚȍঃȚǷȐȚȍ
LJƲȐƲȍ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶȊNjǷǘƲȍȚǞǡ ȗNjȍǀNjǷȗȚǯǷΘƲ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ƲLJƲDZƲǞ ǡȍƲǶƲ
ॲȍǡȗǶNjष ȗNjǶȊǽष ǯNjȗȚǯƲǷॳष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡा eǷȐȚȍঃȚǷȐȚȍ LJƲȐƲȍ
ǶȚȐǡǯ ΘƲǷǘ ȐƲDZǡǷǘ ǀNjȍǯƲǡȗƲǷ LJƲDZƲǶ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ ƲǯƲǷ ǶNjǶǀNjǷȗȚǯ
ȐNjǀȚƲǞ ǯǽǶȊǽǷNjǷ ǀƲȍȚ LJƲDZƲǶ ǯNjȍƲǷǘǯƲ ǶȚȐǡǯ ΘƲǷǘ DZNjǀǡǞ ǀNjȐƲȍष LJǡȐNjǀȚȗ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯा <ǽǶȊǽǷNjǷঃǯǽǶȊǽǷNjǷ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ǶNjDZǡȊȚȗǡ ǗȍƲȐƲष
ǶǽȗǡǗष ȗNjǶƲष LJƲǷ ǯƲLJNjǷȐƲा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡷࡸ


%ȚȍȚ LJƲȊƲȗ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶNjǶƲǡǷǯƲǷ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ
ॲΑǡLJNjǽ ȊNjǷǘƲΘƲƲǷ ࡲॳश ǗȍƲȐNj ॲΑǡLJNjǽ ࡲǀঃLJॳष ǶǽȗǡǗ ॲΑǡLJNjǽ ࡲNjঃǞॳष ȗNjǶƲ ॲΑǡLJNjǽ ࡲǡॳष
LJƲǷ ǯƲLJNjǷȐƲ ॲΑǡLJNjǽ ࡲǬঃǯॳा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ ǁǽǷȗǽǞ
ǀƲǞƲǷ ƲǬƲȍ DZƲǡǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǶƲǷLJǡȍǡ ǽDZNjǞ ǘȚȍȚा

%ƲǶǀƲȍ ࡳाࡲ ǽǷȗǽǞ $ȍƲȐNj =ƲǘȚ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ƲDZƲǶ ȊNjȍǯNjǶǀƲǷǘƲǷ ȐNjDZƲǷǬȚȗǷΘƲष LJȚƲ ǀȚƲǞ ǗȍƲȐNj ΘƲǷǘ LJǡǘƲǀȚǷǘǯƲǷ


ǶNjǷǬƲLJǡ ȐƲȗȚ LJǡȐNjǀȚȗ LJNjǷǘƲǷ ȊNjȍǡǽLJNj ǶȚȐǡǯा NjǷȗȚǯঃǀNjǷȗȚǯ ȊNjǷǘǘƲǀȚǷǘƲǷ
ǡǷǡ ȐƲǷǘƲȗ LJǡǀȚȗȚǞǯƲǷ LJƲDZƲǶ ȊNjǶǀNjǷȗȚǯƲǷ ǗȍƲȐNj DZƲǘȚ ΘƲǷǘ DZNjǀǡǞ ȊƲǷǬƲǷǘष
ȗNjȍȚȗƲǶƲ LJƲDZƲǶ ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯ DZƲǘȚा

%ƲǶǀƲȍ ࡳाࡳ XNjDZƲȐǡ ǷȗƲȍƲ $ȍƲȐNj LJƲǷ UNjȍǡǽLJNj


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

%ƲǶǀƲȍ ࡳाࡴ ǽǷȗǽǞ BǽȗǡǗ CƲLJƲष BǽȗǡǗ XǡȗǶNjष LJƲǷ %ƲǀȚǷǘƲǷ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡷࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǽǶȊǽǷNjǷ ȗNjǶƲ LJƲȍǡ ȐNjǀȚƲǞ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ǶNjȍȚȊƲǯƲǷ ǀƲǘǡƲǷ
ΘƲǷǘ DZNjǀǡǞ ǀNjȐƲȍ LJǡǀƲǷLJǡǷǘǯƲǷ LJNjǷǘƲǷ ǶǽȗǡǗ LJƲǷ ǗȍƲȐNjा bNjǶƲ ǶNjȍȚȊƲǯƲǷ
ǘƲǀȚǷǘƲǷ LJƲȍǡ ǀNjǷȗȚǯ ȍǡȗǶNjष ǷǽȗƲȐǡष LJƲǷ DZǡȍǡǯ DZƲǘȚ ΘƲǷǘ LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ
ǶNjǶǀNjǷȗȚǯ ȐȚƲȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǯNjǞNjǷLJƲǯǡ ȊNjǷǁǡȊȗƲǷΘƲा bNjǶƲ LJƲȍǡ
ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ LJǡȊǡDZǡǞ LJƲǷ LJǡȗNjǷȗȚǯƲǷ ȚǷȗȚǯ ǶNjǶǀNjȍǡ ǘƲǶǀƲȍƲǷ
ǁNjȍǡȗƲ ȐNjǁƲȍƲ ȚǶȚǶ LJƲȍǡ ǡȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjǀƲǘƲǡ ǁǽǷȗǽǞ LJƲDZƲǶ DZƲǘȚ
ǀNjȍȗNjǶƲǯƲǷ ǯNjǀƲǞƲǘǡƲƲǷष ǶƲǯƲ ȊNjǷȚDZǡȐ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ƲǯƲǷ ǀNjȍǁNjȍǡȗƲ
ȗNjǷȗƲǷǘ ǞƲDZঃǞƲDZ ǶNjǶǀƲǞƲǘǡƲǯƲǷ ΘƲǷǘ LJǡƲDZƲǶǡ ǶƲȚȊȚǷ ǽȍƲǷǘঃǽȍƲǷǘ ΘƲǷǘ
ǶNjǷǬƲLJǡ ȐȚǶǀNjȍ ǯNjǀƲǞƲǘǡƲƲǷ ȗNjȍȐNjǀȚȗा [NjȊNjȍȗǡ ǞƲDZǷΘƲ ǶǽȗǡǗ ǷƲLJƲष ǶǽȗǡǗ
ȍǡȗǶNjष LJƲǷ ǘƲǀȚǷǘƲǷ ǶǽȗǡǗ ǷƲLJƲ LJƲǷ ȍǡȗǶNjष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ
ǁƲȍƲঃǁƲȍƲ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǶNjǷNjǷȗȚǯƲǷ ǶƲȚȊȚǷ ǶNjǶǀȚƲȗ ȗNjǶƲ ȚǷȗȚǯ ǯƲȍΘƲ
ǶȚȐǡǯǷΘƲा
<ǽǶȊǽǷNjǷ ȐȗȍȚǯȗȚȍ ΘƲǷǘ ȊNjǷȗǡǷǘ LJƲDZƲǶ ȐNjǀȚƲǞ ȍƲǷǘǯƲǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ƲLJƲDZƲǞ ǯƲLJNjǷȐƲा <ƲLJNjǷȐƲ ǶNjȍȚȊƲǯƲǷ ǀƲǘǡƲǷ ȗNjȍƲǯǞǡȍ ȗȍƲǷȐǡȐǡ Ʋǯǽȍ ȐNjǀNjDZȚǶ
DZƲǘȚ ǡȗȚ ǀNjȍǞNjǷȗǡ ƲȗƲȚ ȐƲǶȊƲǡ ǯNjȊƲLJƲ ȊNjǷǘǞȚǬȚǷǘ ǗȍƲȐNj ǶƲȚȊȚǷ DZƲǘȚा LJƲ
ǀNjǀNjȍƲȊƲ ǶƲǁƲǶ ǬNjǷǡȐ ǯƲLJNjǷȐƲ ΘƲǷǘ LJƲȊƲȗ LJǡȊNjDZƲǬƲȍǡ LJƲǷ LJǡǘȚǷƲǯƲǷ ȐNjǁƲȍƲ
ȚǶȚǶष ȐNjȊNjȍȗǡ ȚȗNjǷȗǡǯ <ƲLJNjǷȐƲ ॲȰȭǴǡȍȭǷǗ LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ ȐNjȗNjǷǘƲǞ
ॲ,Ljȇǭ LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ UDZƲǘƲDZ ॲUȇLjǮLjȇ LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ NjȐNjȊȗǡǗ
࣐ǡǗǡȠȭǷ͎ǡ LjǝǡȍǗǡ࣑࢚
bƲǀNjDZ ࡳाࡲ :NjǷǡȐঃǬNjǷǡȐ <ƲǷLJNjȐƲ BȚȐǡǯ
-HQLV-HQLV .DGHQVD 3HQJJDPEDUDQ 1RWDVL .DGHQVD 3URJUHVL $NRU
$XWHQWLN .DGHQVD 6HPSXUQD * ² & QDGD WHUWLQJJL \DQJ
GLPDLQNDQ DGDODK QRWH & ²
WRQLN

$XWHQWLN .DGHQVD WLGDN * ² & QDGD WHUWLQJJL \DQJ


6HPSXUQD GLPDLQNDQ WLGDN GL QRWH & 
WRQLN

.DGHQVD 6HWHQJDK & ² * DWDX ) ² * $NRU


SURJUHVL EHUDNKLU GL * DWDX
$NRU 'RPLQDQ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡷࡺ


.DGHQVD 3ODJDO )²&

.DGHQVD GHVHSWLI WLSXDQ *  $P

[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

LjǴLjȍ UǡȍǮLj͕LjLjȍ %ȰȣȰ

UǡȍǮǡȍLjȇLjȍ BȰȦǷȅ LjȦLjȣ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰyǁࡺsWƲΝǷࡺDZ
LjȣLj BǡȍǡȍȭȰȅLjȍ $ȣLjȦǡ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰyb%HXǘǁঃǷࡵࡹ
BǡȇȓǝǷǗ UǴȣLjȦǡ ࣐$ȣLjȦǡ BǡȇȓǝǷ࣑
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/yࡴࡷࡺࡷeǯࡺ,ǘ
UǴȣLjȦǡ [ȭȣȰǗȭȰȣǡ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȍbǀΑǬNjȊeࡲǽ
<ȓȌȠȓȦǷȦǷ BȓȭǷǭ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰb<eࡳȐyUࡵ<
UǡȍǮȓȇLjǴLjȍ $ǷǮȰȣ ǝLjȍ BȓȭǷǭ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡶΒǞƲࡱǬ<~CLJ/
[ǴȓȣȭȦ࢓ =ȓȍǮȦ࢓ Ljȍǝ Ljȍǝ XǴȭǴȌǷǗ BȓȭǷǭ
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰqΗqBƲΘࡵࡲࡺƲe
BȓȭǷǭ Ljȍǝ =ǡǷȭȌȓȭǷǭ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ:ࡱǡǀࡳ<,ǽǗǁ

ࡸࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LjǝǡȍǗǡ =LjǮȰ
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡵȍࡱDZΝࡷࡸǀȐ
UȇLjǮLjȇ LjǝǡȍǗǡ
ߛߚ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰyƲLJ/HȊȚ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǘǡǷǘƲȗ ǯNjǶǀƲDZǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ NjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ȊƲLJƲ eǷǡȗ ࡲा %ȚȍȚ ǞƲȍȚȐDZƲǞ ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ
ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ
DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ
LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ Njा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ
ǀा ǶǀNjȍ ǀNjȐƲȍ ઝ ǯNjǁǡDZ ǡǷǁǡ
ǁा %ƲDZǽǷ Ʋǡȍ Ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
LJा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
ࡸा /ǷȐȗȍȚǶNjǷ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲ LJा ,ƲȍǶǽǷǡǯƲ
ǀा NjDZDZǽ Njा LJƲǷ DZƲǡǷঃDZƲǡǷ
ǁा %ǡȗƲȍ
<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡸࡲ


ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ƲǯƲǷ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍ ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐƲǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǶNjǶƲǯǷƲǡ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕࢚
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡǗǡǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲǶȚȐǡǯΘƲǷǘLJǡLJNjǷǘƲȍȐNjȐȚƲǡLJNjǷǘƲǷ ǀNjǷȗȚǯȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲ
ǯा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯǷΘƲा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ

ࡸࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ
ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡঃ
ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ
ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯǷΘƲा bȚǘƲȐ
LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯा
%ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ
ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ
ǶNjȍNjǯƲ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷष ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲष ǯNjǘǡƲȗƲǷ ǡǷȗǡष ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚष ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡ ǶNjDZǡȊȚȗǡश

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡸࡴ


bƲǀNjDZ ࡳाࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐा
BNjǷǘǞƲȍǘƲǡ ȊNjȍǀNjLJƲƲǷ
ǀȚLJƲΘƲ LJƲǷ ȐNjDZNjȍƲ ǶȚȐǡǯ
ǽȍƲǷǘ DZƲǡǷ
[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ
LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡳाࡴा UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ

ࡸࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ
BNjǶǡDZǡǯǡ ƲǯȚȍƲȐǡ
ǶNjǷLJNjǷǘƲȍ ǀȚǷΘǡঃǶȚȐǡǯ
BNjǷǘȚƲȐƲǡ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ǀNjȍƲǘƲǶ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJNjǷǘƲǷ
ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡳाࡵ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡸࡶ


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǞƲȍǡ ǡǷǡ LJƲȊƲȗ
ࡶ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ DZNjǀǡǞ
ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǶȊȍƲǯȗǡǯǯƲǷ ǶƲȗNjȍǡ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡴा BNjǷǁƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ /// ǝLjȍ /q


BNjǷǘNjǯȐȊDZǽȍƲȐǡ %ǡȍȣǡ BȚȐǡǯ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ Ǯǡȍȣǡ
ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ǀNjȍƲǘƲǶ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ
LJƲǷ ǯNjǀȚȗȚǞƲǷ ǞǡLJȚȊ ȐNjǞƲȍǡঃǞƲȍǡ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯ
LJNjǷǘƲǷ ȊNjǶƲǷǗƲƲȗƲǷ ȗNjǯǷǽDZǽǘǡ ǀNjȍǶȚȐǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǡDZƲǡƲǷ ƲǯƲǷ ǯƲȍΘƲ ȊȍǡǀƲLJǡ LJƲǷ
ǽȍƲǷǘ DZƲǡǷ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjǀƲǘƲǡ ǀƲǘǡƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǀNjȍȊǡǯǡȍ LJƲǷ ǀNjǯNjȍǬƲ
ƲȍȗǡȐȗǡǯঃNjȐȗNjȗǡǯ ȗNjȍǯƲǡȗ Ǯǡȍȣǡ ǶȚȐǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ LJƲǷ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ
Ǯǡȍȣǡ ȐNjǞǡǷǘǘƲ LJƲȊƲȗ ǶNjǶǀƲǷǘȚǷ ȍƲȐƲ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

ࡸࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


BLjȭǡȣǷ Uȓȅȓȅ
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍƲǘƲǶ Ǯǡȍȣǡ ǶȚȐǡǯ LJNjǷǘƲǷ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ
ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ
ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
ǶNjȍNjǯƲ ǶǡǷƲȗǡा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǗǽȍǶƲȐǡ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ΘƲǷǘ
LJǡǶǡǷƲȗǡ ȚǷȗȚǯ ǶNjǶȊNjȍǶȚLJƲǞ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ LJƲDZƲǶ ǶNjǶȊNjDZƲǬƲȍǡ
ǀNjǷȗȚǯঃǀNjǷȗȚǯ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲा $ǽȍǶƲȐǡ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ
LJƲȊƲȗ ǀNjȍȚȊƲ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ LJƲǷ ǀNjȍǶƲǡǷ LJƲDZƲǶ ǘȍȚȊ
ॲDZNjǀǡǞ LJƲȍǡ ȐƲȗȚ ǽȍƲǷǘॳश LJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ǘȍȚȊ ǯNjǁǡDZष LJƲǷ ǘȍȚȊ ǀNjȐƲȍा %ȚȍȚ
LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǷȗȚǯ
ȊƲLJȚƲǷ ȐȚƲȍƲष ͎ȓǗLjȇ ǮȣȓȰȠष ǶȚȐǡǯ ǽȍǯNjȐ ॲȓȣǗǴǡȦȭȣLjॳष ǶȚȐǡǯ ǯƲǶƲȍ ॲǗǴLjȌǖǡȣ
ȌȰȦǷǗॳष ǗȓȌǖȓ ǖLjȍǝ࢓ ȠǷLjȍȓ ȭȣǷȓ࢓ ȠǷLjȍȓ ǗȓȍǗǡȣȭȓ࢓ ƲȗƲȚȊȚǷ ǀNjǷȗȚǯ ǶȚȐǡǯ ΘƲǷǘ
DZƲǡǷा <ǽǶȊǽȐǡȐǡ ȊNjǶƲǡǷ LJƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡǶƲǡǷǯƲǷ LJƲDZƲǶ ȐNjȗǡƲȊ
ǀNjǷȗȚǯ ǘȍȚȊ ǶȚȐǡǯ ȐƲǷǘƲȗ ǀNjȍǀNjLJƲঃǀNjLJƲष ȐNjǞǡǷǘǘƲ ǶNjǷNjǷȗȚǯƲǷ ǀNjǷȗȚǯ
ȐȊNjȐǡϯǯ LJƲȍǡ ǘȍȚȊ ȗNjȍȐNjǀȚȗा
%ƲǶǀƲȍ ࡳाࡵ ǽǷȗǽǞ $ǽȍǶƲȐǡ UNjȍǶƲǡǷƲǷ BȚȐǡǯ

qǽǯƲDZ %ȍȚȊ HȍǯNjȐȗȍƲ


[ȚǶǀNjȍश ȐȚƲȍƲाǁǽǶॅǁǽǀǽΘǬȍ ॲࡳࡱࡲࡵॳ [ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅƲȍǡǷLJƲǶेǶƲǞƲǷȗƲ

UƲǷLJȚƲǷ [ȚƲȍƲ ǴLjȌǖǡȣ BȰȦǷǗ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽ ॲࡳࡱࡳࡱॳ [ȚǶǀNjȍश ǽǶƲǞƲǁǶाǽȍǘ ॲࡳࡱࡳࡱॳ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡸࡸ


UǷLjȍȓ bȣǷȓ
ȓȌǖȓ Ljȍǝ
[ȚǶǀNjȍश ΘǽȚȗȚǀNjाǁǽǶॅǶNjȍƲDZLJUǡƲǷǽbȍǡǽ
[ȚǶǀNjȍश ȚǷȐȊDZƲȐǞाǁǽǶॅǘȐΝNjǶǽǯ
ॲࡳࡱࡲࡳॳ

UǷLjȍȓ ȓȍǗǡȣȭ
[ȚǶǀNjȍश ΘǽȚȗȚǀNjाǁǽǶॅǗȍƲǷǁNjǶȚȐǡȌȚNj ॲࡳࡱࡲࡹॳ

[NjDZƲǡǷ LJƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ ǗǽȍǶƲȐǡ ǀNjȍǶƲǡǷ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
%ǡȍȣǡ LJƲDZƲǶ ǶȚȐǡǯ ȐƲǷǘƲȗ ǀNjȍƲǘƲǶष ȐNjȊNjȍȗǡश
व BȚȐǡǯ ǯDZƲȐǡǯष
<DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǶNjǷǬƲLJǡ
ΝƲǶƲǷ UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇ ȠǡȣǷȓǝॳष ΝƲǶƲǷ XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳष
Ʋȍǽǯ ॲLjȣȓȢȰǡॳष <DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳष XǽǶƲǷȗǡǯ ॲXȓȌLjȍȭǷǗॳष ǀƲLJ ǯNjঃࡳࡱ
ॲBȓǝǡȣȍॳष LJƲǷ ǀƲLJ ǯNjঃࡳࡲा
व BȚȐǡǯ <ǽǷȗNjǶȊǽȍNjȍ
ǽǷȗǽǞ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍश ȊǽȊष ȍǽǁǯष ǬƲΝΝष ǀDZȚNjȐष Xઝष ǞǡȊ ǞǽȊष LJƲǷ
DZƲǡǷঃDZƲǡǷ
व BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ
[NjȊNjȍȗǡ %ƲǶNjDZƲǷष bNjǶǀƲǷǘ [ȚǷLJƲष %ƲǶǀƲǷǘ <ȍǽǶǽǷǘष %ǽǷǘ =ȚƲǷǘष
<ǽǶǀǡष [NjǷƲǷLJȚǷǘ :ǽDZǽष [ƲȐƲǷLJǽ %ǽǷǘष bƲǀȚǞ [ƲDZǡǶȊƲȗष <ƲȍƲǷǘ ǽLJǽȚष
LJƲǷ DZƲǡǷঃDZƲǡǷा

ࡸࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


व BȚȐǡǯ CǽǷঃȗȍƲLJǡȐǡǽǷƲDZ
UNjȍǯNjǶǀƲǷǘƲǷ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ǀNjȍǁƲǶȊȚȍ LJNjǷǘƲǷ ǀȚLJƲΘƲ ΘƲǷǘ
DZƲǡǷष ǶNjǶǀNjǷȗȚǯ Ǯǡȍȣǡ ǶȚȐǡǯ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा ǽǷȗǽǞǷΘƲ ƲLJƲDZƲǞ ǶȚȐǡǯ
ǯNjȍǽǷǁǽǷǘष LJƲǷǘLJȚȗष ǘƲǶǀȚȐष DZƲǷǘǘƲǶष ǁƲǶȊȚȍȐƲȍǡष LJƲǷ DZƲǡǷঃDZƲǡǷा
NjǷǘƲǷ ǯƲȗNjǘǽȍǡ Ǯǡȍȣǡ ǶȚȐǡǯ ǡǷǡष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjǷȗȚǯƲǷ
ǬNjǷǡȐ ǶȚȐǡǯ ΘƲǷǘ LJǡǶƲǡǷǯƲǷष ȗNjǯǷǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷष LJƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ΘƲǷǘ ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷा

%ƲǶǀƲȍ ࡳा ࡶ BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ %ƲǶNjDZƲǷ :ƲΒƲ


[ȚǶǀNjȍश $ǽȗǽ /ΒƲǷ ȚLJǡ [ƲǷȗǽȐǽ ॲࡳࡱࡲࡱॳ

%ƲǶǀƲȍ ࡳाࡷ BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ %ƲǶǀƲǷǘ <ȍǽǶǽǷǘ


[ȚǶǀNjȍश ȊNjDZNjȐȗƲȍǡǀȚLJƲΘƲाǁǽǶॅǘƲǶǀƲǷǘǯȍǽǶǽǷǘ ॲࡳࡱࡲࡺॳ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡸࡺ


%ƲǶǀƲȍ ࡳाࡸ BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ [ƲȐƲǷLJǽ %ǽǷǘ
[ȚǶǀNjȍश ǡǷȗNjȍƲǯȗǡǗाǯǽǶȊƲȐाǡLJॅǶȚȐǡǯঃȐƲȐƲǷLJǽ ॲࡳࡱࡳࡱॳ

%ƲǶǀƲȍ ࡳा ࡹ BȚȐǡǯ CǽǷঃȗȍƲLJǡȐǡǽǷƲDZ BȚȐǡǯ <NjȍǽǷǁǽǷǘ


[ȚǶǀNjȍश ǁȚDZȗȚȍƲाǡLJॅǯNjȍǽǷǁǽǷǘǶȚȐǡǯ ॲࡳࡱࡲࡺॳ

BLjȭǡȣǷ UǡȍǮLj͕LjLjȍ ȇȭǡȣȍLjȭǷǭ


࢚ BȰȦǷȅ <ȇLjȦǷȅ
~LjȌLjȍ UǡȣȭǡȍǮLjǴLjȍ ࣐BǡǝǷǡ͎Ljȇ UǡȣǷȓǝ ࣑࢒ ǷǡȦ /ȣLjǡ ǴLjȍȭ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰेyΗ=ࡳȊǁHǁ
~LjȌLjȍ XǡǷȍLjǷȦLjȍȦ ࣐XǡȍLjǷȦȦLjȍǗǡ࣑࢒ %Ƿȓ͎LjȍȍǷ U࢚  ULjȇǡȦȭȣǷȍLj ࣟ bȰ ǡȦ
UǡȭȣȰȦ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ<ǗWȌࡶࡷNjǀǁઝDZǡȐȗਰU=,~ǀࡶࡶࡹBeȚCঃ
ΑBΘCࡹeࡳǀ[ࡳXࡶCǯΝeǞࡹࡱb
Ljȣȓȅ ࣐LjȣȓȢȰǡ࣑࢒ %࢚$࢚ ,Ljȍǝǡȇ ࣟ ,ȓȣȍȠǷȠǡ ǭȣȓȌ ȭǴǡ sLjȭǡȣ BȰȦǷǗ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡲǞࡵǶǁNj,Ƕȍ/

ࡹࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ȇLjȦǷȅ ࣐ȇLjȦȦǷǗLjȇ࣑࢒ Bȓ͚Ljȣȭ ࣟ Ƿȍǡ <ȇǡǷȍǡ CLjǗǴȭȌȰȦǷȅ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǗࡴȚࡶঃBǯ$yࡶ
XȓȌLjȍȭǷȅ ࣐XȓȌLjȍȭǷǗ࣑࢒ ǡǡȭǴȓ͎ǡȍ ࣟ $Ȱȣ ȇǷȦǡ
ߟ
ǞȗȗȊȐशॅॅΘǽȚȗȚाǀNjॅNjࡵLJࡱ=HȚUࡵeΒ
ǖLjǝ ȅǡ࣡ߜߚ ࣐Bȓǝǡȣȍ࣑࢒ :ȓǴȍ LjǮǡ ࣟ [ȓȍLjȭLj q ࣐ ǭȣȓȌ [ȓȍLjȭLjȦ Ljȍǝ /ȍȭǡȣ࣡
ȇȰǝǡȦ࣑
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǬX,ǽ<~XyDZyઝDZǡȐȗਰU=ΘȌǽǗ<<ƲBঃ
q=~ࡺȐ=NjWȚǡࡲΑǽࡴC/ƲCqΗेǯ
ǖLjǝ ȅǡ࣡ߜߛ࢒ sǡǷȣǝ %ǡȍǷȰȦ ࣟ =LjȭǴǷ ࣐ǭȭ࢚ [LjȣLj $LjȂǷȣLj࣑
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡹȚΘࡸ%ࡳ:xq[

࢚ <ȓȍȭǡȌȠȓȣǡȣ
UȓȠ࢒ XLjǷȦLj ৾ /Ȧ͕LjȍLj ࣟ ȍǮLjȍȅȰ ȍǮLjȍȌȰ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰWXेǞyঃǷDZB
XȓǗȅ࢒ <ȓȭLjȅ ࣟ ǡȣLjȅȦǷ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȌǁࡹǗWǯǡƲ=B
:Lj͚͚࢒ $ȣLjȍȅ [ǷȍLjȭȣLj ࣟ $ȇ͕ Bǡ bȓ bǴǡ Bȓȓȍ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰyࡳȍǀࡵeȍࡳLJΒ
ȇȰǡȦ࢒ ࢚ <ǷȍǮ ࣟ bǴǡ bǴȣǷȇȇ ǷȦ %ȓȍǡ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ[ǘx[ǽǶUे$y
X ৾ ࢒ /Ȧ͕LjȍLj [LjȣLjȦ͎LjȭǷ ࣟ <ǡǡȠ ǡǷȍǮ yȓȰ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȌΒCࡱࡲǬDZ[ࡹǁ
,ǷȠ࣡ǴȓȠ࢒ [Lj͕ȅȓȂǷ ࣟ :LjȇLjȍ ULjȍȂLjȍǮ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡷX%ࡺsǽΘǽBǞB

࢚ bȣLjǝǷȦǷȓȍLjȇ
%LjȌǡȇLjȍ LjȇǷ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰes[Ț,ȐȚW
bǡȌǖLjȍǮ [ȰȍǝLj
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȍǁB[$ƲWࡴǗǞࡵ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡹࡲ


%LjȌǖLjȍǮ <ȣȓȌȓȍǮ࢒ Hȍǝǡȇ Hȍǝǡȇ
ߝ ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰेΗǡࡱ~%ࡷȗXࡷઝDZǡȐȗਰXǷࡹLJǘΑঃ
BeBઝǡǷLJNjΗਰࡸ
%ȓȍǮ =ȰLjȍǮ࢒ CǷȇLj ULjȭǷ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰH=ǀǷࡸǗ%ࡷǗȐ/
BȰȦǷȅ <ȣȰȌȠ͕ȰȍǮ ࣟ <Ȱȇȓȍ UȣȓǮȓ࢓ LjǡȣLjǴ /ȦȭǷȌǡ͏Lj yȓǮ͕LjȅLjȣȭLj
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝेHȚUWsǽ
[ǡȍLjȍǝȰȍǮ :ȓȇȓ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸࡱ</Ηxȍ/
[LjȦLjȍǝȓ %ȓȍǮ࢒ XǷ͎ǡȣ $ȇȓ͏Ȧ ࣐yǷȣȰȌLj࣑
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡱࡲ%=ǶࡺXxLJ
bLjǖȰǴ [LjȇǷȌȠLjȭ࢒ bLjȇȓ LjȇLjȅ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰb$ΝǶNj:sࡵࡹΘe

࢚ Cȓȍ࣡ȭȣLjǝǷȦǷȓȍLjȇ
<ǡȣȓȍǗȓȍǮ࢒ ǡȍǮLj͏Ljȍ [ȓȇȓ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǁȐΘyΗe%ࡷXW/
LjȍǮǝȰȭ࢒ UǡȦȭLj ULjȍǡȍ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ%ǀ:ࡹǽNjࡸ,q
%LjȌǖȰȦ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΑeঃǽΝ/Θǀ
=LjȍǮǮLjȌ࢒ bLjȅ =ǡȇȓ =ǡǝȰȍǮ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/<ΗxΝȌࡳȚ~xǘ
LjȌȠȰȣȦLjȣǷ࢒ =Lj͕LjȍǮ <LjȍǮǡȍ ǷǝǷ <ǡȌȠȓȭ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝǽǗǷΒࡹȊ:Uࡱ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ

ࡹࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ
ǀा ǶǀNjȍ ǀNjȐƲȍ ઝ ǯNjǁǡDZ
ǁा %ƲDZǽǷ Ʋǡȍ
LJा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
Njा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡ
Ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा /ǷȐȗȍȚǶNjǷ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲ Ǘा <NjǶȊȚDZ
ǀा NjDZDZǽ ǘा [ƲȐƲǷLJǽ
ǁा %ǡȗƲȍ Ǟा <NjǷLJƲǷǘ
LJा ,ƲȍǶǽǷǡǯƲ ǡा eǯȚDZNjDZNj
Njा %ǽǷǘ Ǭा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ࡲा <NjǘǡƲȗƲǷ UNjǶǀȚǯƲ
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡹࡴ


ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
ǀNjȍƲǘƲǶ Ǯǡȍȣǡ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍष
ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ
ǶNjǶƲǯǷƲǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ȗNjȍȐNjǀȚȗा
ǡा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲ
Ǭा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ ƲȚLJǡȗǽȍǡा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा

ࡹࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǬNjǷǡȐঃǬNjǷǡȐ
ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯǷΘƲा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ
NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ
ǀȚǷΘǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ
ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ
ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯष LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZा %ȚȍȚ LJƲȊƲȗ
ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ
ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ
ǶNjȍNjǯƲ ȗNjǷȗƲǷǘ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZा UNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ ǶNjȍNjǯƲ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
XNjǗNjȍNjǷȐǡ DZƲǡǷ ǶNjǷǘNjǷƲǡ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ DZǡǷǯश
ࡲा ǞȗȗȊȐशॅॅȐNjȍȚȊƲाǡLJॅǶȚȐǡǯঃȗȍƲLJǡȐǡǽǷƲDZ
ࡳा ǞȗȗȊशॅॅDZǽǷȐȚǡȗाȚǷǡȐǶȚǞDZȚΒȚǯाƲǁाǡLJॅǗ ǡDZNjȐॅǬǽȚȍǷƲDZȐॅࡹॅƲȍȗǡǁDZNjȐॅࡷࡲࡴॅ
ȐȚǀǶǡȐȐǡǽǷॅǽȍǡǘǡǷƲDZॅࡷࡲࡴঃࡲࡷࡲࡶঃࡲঃ[BाǞȗǶDZ
XNjǗNjȍNjǷȐǡ ȚǷȗȚǯ Ǯǡȍȣǡ ǶȚȐǡǯ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ DZǡǷǯश
ǞȗȗȊȐशॅॅΒΒΒाǯǽǶȊƲȐाǁǽǶॅȐǯǽDZƲॅȍNjƲLJॅࡳࡱࡳࡱॅࡲࡲॅࡳࡷॅࡳࡳࡵࡱࡴࡱࡱࡷࡺॅǶȚȐǡǯঃ
ǷǽǷȗȍƲLJǡȐǡǽǷƲDZঃǷȚȐƲǷȗƲȍƲिȊƲǘNjਰƲDZDZा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡹࡶ


UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡳाࡶ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ

NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ


ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ࡹࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶƲǡǷ ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡳाࡷ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ǷǽǷঃ
ȗȍƲLJǡȐǡǽǷƲDZ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡ Ǯǡȍȣǡ
ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯƲȗNjǘǽȍǡ Ǯǡȍȣǡ
ǶȚȐǡǯ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZ

BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ǷǽǷঃ
ȗȍƲLJǡȐǡǽǷƲDZ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡹࡸ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷঃ
ȗȍƲLJǡȐǡǽǷDZ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
NjǯȐȊDZǽȍƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷ
ȗȍƲLJǡȐǡǽǷƲDZ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡳाࡸ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ࡹࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZ
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡴा BNjǷǁƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q ǝLjȍ q/


BNjǷǘǞƲȐǡDZǯƲǷ <ƲȍΘƲ BȚȐǡǯ NjȍLJƲȐƲȍǯƲǷ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %ǡȍȣǡ BȚȐǡǯ
ΘƲǷǘ ǡȊǡDZǡǞ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJƲȍǡ ǀNjȍƲǘƲǶ ȐȚǶǀNjȍ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯ LJƲǷ ȗNjǯǷǽDZǽǘǡ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǡDZƲǡƲǷ ƲǯƲǷ ǯƲȍΘƲ ȊȍǡǀƲLJǡ LJƲǷ ǽȍƲǷǘ
DZƲǡǷ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjǀƲǘƲǡ ǀƲǘǡƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǀNjȍȊǡǯǡȍ LJƲǷ ǀNjǯNjȍǬƲ ƲȍȗǡȐȗǡǯঃ
NjȐȗNjȗǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǶǀƲǷǘȚǷ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡹࡺ


BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJNjǷǘƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ
LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ
ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा ǽǷȗǽǞ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ
LJƲȊƲȗ ǀNjȍȚȊƲ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ ƲȗƲȚȊȚǷ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ
ǯNjDZǽǶȊǽǯॄ ǀƲǡǯ ǶȚȐǡǯ ΑǽǯƲDZ ǶƲȚȊȚǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷॄ LJƲǷ LJNjǷǘƲǷ
ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǡDZǡǞƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍ LJƲȍǡ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷा

࢚ %Lj͕Lj BȰȦǷȅ <ȇLjȦǷȅ


/ȇ ǷLjȍǗȓ ǡ ȓȇǗǡ ǷǮȍȓ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ%e,ࡲࡲΒȌUXǗe
:࢚[࢚ LjǗǴ ࣡ Ƿȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΑǘDZsࡴ<C[ȐW

࢚ <ȓȍȭǡȌȠȓȣǡȣ
UǡȍȭLjȭȓȍǷ͔ ࣡ /ȌLjǮǷȍǡ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰC=ǡs$e:ࡺࡶ/
UǷLjȍȓ bȣǷȓ ࣡ yȓȰ XLjǷȦǡ Bǡ eȠ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡺ,ǞΑΒsΗࡲǡȚȐ

࢚ bȣLjǝǷȦǷȓȍLjȇ
[ȓȰȍǝ bȣLjǗȅǡȣ ࣡ %LjȌǡȇLjȍ ࣐/ȍǝȓȍǡȦǷLj࣑
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰes[Ț,ȐȚW
bǡȌǖLjȍǮ BȓǗȓȠLjȭ ࣡ ȰȣȌLj XLjȍǮȦLjȍǮ ࣡ ȠǡȇȓǮ ǖLjȣLjȍǮ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡱ$ǞǬΒȍǘCǶेy

࢚ Cȓȍ࣡bȣLjǝǷȦǷȓȍLjȇ
ȓȍǝLjȍ ৾ $Ljǝǡ ߜ ȇLjǗȅ ࣡ <ȣȓȍǗȓȍǮ Uȣȓȭȓȇ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΘNjǬ,=ǯȐǶƲy
<ȇLjȍȭǷȍȅ ࣡ LjȍǮȰȍ bǷǝȰȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǯ<ࡱqΘǁঃb/ࡵǘ

ࡺࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐȊNjǶǀNjDZƲǬƲȍƲǷLJƲȊƲȗǀNjȍDZƲǷǘȐȚǷǘLJNjǷǘƲǷǀƲǡǯा%ȚȍȚǞƲȍȚȐDZƲǞǶNjǷLJNjǷǘƲȍ
LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ
ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ
ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ
ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ
ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ
ǀा ǶǀNjȍ ǀNjȐƲȍ ઝ ǯNjǁǡDZ
ǁा %ƲDZǽǷ Ʋǡȍ
LJा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
Njा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡ
Ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा /ǷȐȗȍȚǶNjǷ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲ ǘा [ƲȐƲǷLJǽ
ǀा NjDZDZǽ Ǟा <NjǷLJƲǷǘ
ǁा %ǡȗƲȍ ǡा eǯȚDZNjDZNj
LJा ,ƲȍǶǽǷǡǯƲ
Ǭा LJƲǷ DZƲǡǷঃDZƲǡǷ
Njा %ǽǷǘ
Ǘा <NjǶȊȚDZ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡺࡲ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ LJƲǷ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯȍNjƲȐǡ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा ,ƲDZ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ǘȚȍȚ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ
ǶNjǶƲǯǷƲǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ
ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲǷ
ǁƲȍƲ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȍǡȗǶNj LJƲǷ ǶNjDZǽLJǡ LJƲDZƲǶ

ࡺࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅLJǡDZǡǞƲȗष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǡा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲȍǡ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯǷΘƲ
Ǭा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕ा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲȍǡ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯǷΘƲा
DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍǡǯȚȗǷΘƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ
ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯǷΘƲा %ȚȍȚ
LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ
ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯॅ ǁƲȍƲ
ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀȚƲȗ ǯƲȍΘƲ
ǶȚȐǡǯष ǀNjȍLJƲȐƲȍǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȐNjȍȚȊƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ
LJƲǷ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǀȚƲȗ ǀƲǡǯ ǡǷLJǡΑǡLJȚ
ǶƲȚȊȚǷ ǯNjDZǽǶȊǽǯष ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
LJƲǷ ǁƲȍƲ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡺࡴ


ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡳाࡹ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ࡺࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶƲǡǷ ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡳाࡺ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡺࡶ


bƲǀNjDZ ࡳाࡲࡱ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा BNjǷǘNjǯȐȊDZǽȍƲȐǡ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡴा BNjǷǁƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

ࡺࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q// ǝLjȍ q///
BNjǶƲǡǷǯƲǷ LJƲǷ BNjǷƲǶȊǡDZǯƲǷ <ƲȍΘƲ BȚȐǡǯ ȐNjȐȚƲǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ
%ǡȍȣǡ BȚȐǡǯ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǡǷǯƲǷ LJƲǷ ǶNjǷƲǶȊǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJƲȍǡ
ǀNjȍƲǘƲǶ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ LJƲȍǡ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯ LJƲǷ ȗNjǯǷǽDZǽǘǡ ȐNjǁƲȍƲ ǡǷLJǡΑǡLJȚ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjDZƲǀǽȍƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǘNjȍƲǯ LJƲǷ ȗƲȍǡ
ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǡDZƲǡƲǷ ƲǯƲǷ ǯƲȍΘƲ ȊȍǡǀƲLJǡ LJƲǷ
ǽȍƲǷǘ DZƲǡǷ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjǀƲǘƲǡ ǀƲǘǡƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǀNjȍȊǡǯǡȍ LJƲǷ ǀNjǯNjȍǬƲ
ƲȍȗǡȐȗǡǯঃNjȐȗNjȗǡǯा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǶǀƲǷǘȚǷ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲ

BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ LJƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ
ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ LJƲDZƲǶ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǶƲȚȊȚǷ
LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा <ȍNjƲȗǡΑǡȗƲȐ ǀNjȍǶȚȐǡǯ ǡǷǡ
LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ǶNjǷǡǷǘǯƲȗǯƲǷ ǯȍNjƲȗǡΑǡȗƲȐ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjǶǡDZǡǞ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍष Ǯǡȍȣǡ ǶȚȐǡǯष ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯष ȐNjȍȗƲ ǀNjȍǯǽDZƲǀǽȍƲȐǡ
LJNjǷǘƲǷ ǘNjȍƲǯॅȗƲȍǡा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǘȚȍȚ LJƲȊƲȗ ǶNjǶƲȐȗǡǯƲǷ ǯNjǶƲȗƲǷǘƲǷ
ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯǷΘƲा UNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ LJǡǞƲȍƲȊǯƲǷ ǶNjǶǡDZǡǯǡ ǯNjLJƲDZƲǶƲǷ
ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȊǡDZǡǞ ॲǶȚȐǡǯ
ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष ȗȍƲLJǡȐǡǽǷƲDZष ƲȗƲȚȊȚǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZॳा [NjDZƲǷǬȚȗǷΘƲष
ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ LJNjǷǘƲǷ ǀǡLJƲǷǘ ȐNjǷǡ ǶƲȚȊȚǷ ǯNjǡDZǶȚƲǷ
ΘƲǷǘ DZƲǡǷष ȐNjǞǡǷǘǘƲ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ ǶNjǷƲȍǡǯ
LJƲǷ ǽȊȗǡǶƲDZा <NjǶȚLJǡƲǷष ȐNjȗNjDZƲǞ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ ǶƲȗNjȍǡष ǶNjȍNjǯƲ
ǀǡȐƲ ǶNjǷƲǶȊǡDZǯƲǷ ǞƲȐǡDZ ǯƲȍΘƲ ǶNjȍNjǯƲ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡺࡸ


࢚ BȰȦǷȅ <ȇLjȦǷȅ
:ȓǴLjȍȍ [ȭȣLjȰȦȦ // ࣟ HȠǡȣLj ȣǷLjȦ࣡ $ȣȰǴȇǷȍǮȦȦȭǷȌȌǡȍ࣡ sLjȇ͚ǡȣ HȠ࢚ߞߛߚ
ߛ ࣐/Ȧ͕LjȍLj [LjȣLjȦ͎LjȭǷ࣑
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΒǶǬǞǀ[Wࡹe%
[ȠLjȍǷȦǴ XȓȌLjȍǗǡ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰXࡲȍNjXȍǘȍȌǶࡱ

࢚ <ȓȍȭǡȌȠȓȣǡȣ
% ࣡ [ȰLjȣLj
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡺCΒx%Wࡵǀǯy
ȅLj %ȰȦȭǷ͏LjȍLj ࣡ Bǡǝȇǡ͕ =LjǮȰ ȍLjȅ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǯΝࡶ<ȚǗȗࡸȊ

࢚ bȣLjǝǷȦǷȓȍLjȇ
bǴǡ XǡȦȓȍLjȍǗǡ ǴȓǷȣ ࣡ yLjȌȅȓ XLjȌǖǡ yLjȌȅȓ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǗCqǗΗǶyeȍࡱ

࢚ Cȓȍ࣡bȣLjǝǷȦǷȓȍLjȇ
%LjȌǡȇLjȍ ǝLjȍ B ࣡ bLjȍLjǴ ǷȣȅȰ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǬeࡹǶेǗǞࡶXǘ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ
LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ

ࡺࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष
ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ Njा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ
ǀा ǶǀNjȍ ǀNjȐƲȍ ઝ ǯNjǁǡDZ ǡǷǁǡ
ǁा %ƲDZǽǷ Ʋǡȍ Ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
LJा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
ࡸा /ǷȐȗȍȚǶNjǷ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲ Ǘा <NjǶȊȚDZ
ǀा NjDZDZǽ ǘा [ƲȐƲǷLJǽ
ǁा %ǡȗƲȍ Ǟा <NjǷLJƲǷǘ
LJा ,ƲȍǶǽǷǡǯƲ ǡा eǯȚDZNjDZNj
Njा %ǽǷǘ Ǭा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ǯǽǷLJȚȐǡǗ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
LJNjǷǘƲǷ ȗNjȍȗǡǀ ȐNjȍȗƲ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ LJǡ ǯNjDZƲȐा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶǀNjDZƲǬƲȍƲǷा
ǁा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ
LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȊNjǷƲǶȊǡDZƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯȍNjƲȐǡ

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡺࡺ


ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍNjƲȗǡΑǡȗƲȐ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǘȚȍȚ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ǶNjǶƲǞƲǶǡ LJƲǷ ǶNjǶƲǯǷƲǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲDZƲǶ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Njा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
Ǘा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȊNjȍǶƲǡǷƲǷ LJƲǷ
ȊNjǷƲǶȊǡDZƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅLJǡDZǡǞƲȗष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǘा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȗƲǶȊǡDZǯƲǷ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷƲǶȊǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȐȚLJƲǞ
LJǡǀȚƲȗ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ
LJNjǷǘƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯǷΘƲा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǷƲǶȊǡDZƲǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲǷ ǞƲȐǡDZ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȗƲǶȊǡDZǯƲǷा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
LJƲǷ ǁƲȍƲ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǯȍNjƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा

ࡲࡱࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡳाࡲࡲ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
%ȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶƲǡǷ ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡲࡱࡲ


bƲǀNjDZ ࡳाࡲࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍNjƲȐǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ ǘƲΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
BNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ
ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ LJƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
LJNjǷǘƲǷ ǀǡLJƲǷǘ ȐNjǷǡॅ
ǯNjǡDZǶȚƲǷ ΘƲǷǘ DZƲǡǷ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ ȚǷȗȚǯ


ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ǶNjǷƲǶȊǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ LJNjǷǘƲǷ
ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ %ȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

ࡲࡱࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡳाࡲࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा BNjǷǘNjǯȐȊDZǽȍƲȐǡ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍNjƲȐǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍNjƲȐǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡴा BNjǷǁƲȍǡ ǯȍNjƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ǀƲȍȚा

eȂǷ <ȓȌȠǡȭǡȍȦǷ

ࡲा LJƲ ǀNjȍƲȊƲ ǶƲǁƲǶ ǬNjǷǡȐ ǯƲLJNjǷȐƲि


ࡳा [NjǀȚȗǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ǯƲLJNjǷȐƲि
ࡴा ƲDZƲǶ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ȗNjȍLJƲȊƲȗ ǀNjǀNjȍƲȊƲ ǯǽǶȊǽǷNjǷष ȐNjǀȚȗǯƲǷ
ǯǽǶȊǽǷNjǷঃǯǽǶȊǽǷNjǷ ȗNjȍȐNjǀȚȗह

eǷǡȗ ࡳ ঃ ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %NjǷȍNj BȚȐǡǯ ࡲࡱࡴ


ࡵा :NjDZƲȐǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲǷLJƲ ǯNjȗƲǞȚǡह ॲǶǡǷा ࡴॳ
ࡶा :NjDZƲȐǯƲǷ ȊNjǷǘNjDZǽǶȊǽǯǯƲǷ ǘƲΘƲ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ LJƲDZƲǶ
ǶȚȐǡǯ ǯDZƲȐǡǯ ǀƲȍƲȗह
ࡷा :NjDZƲȐǯƲǷ ǁǽǷȗǽǞ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍह ॲǶǡǷा ࡴॳ
ࡸा BȚȐǡǯ <NjȍǽǷǁǽǷǘष LJƲǷǘLJȚȗ LJƲǷ ǘƲǶǀȚȐ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ Ǯǡȍȣǡ ǶȚȐǡǯि
BNjǷǘƲȊƲ LJNjǶǡǯǡƲǷि
ࡹा NjȍƲȊƲ ǬȚǶDZƲǞ ƲǷǘǘǽȗƲ LJƲDZƲǶ ǗǽȍǶƲȐǡ ǯΒƲȍȗNjȗि
ࡺा ǡǀƲΒƲǞ ǡǷǡ ΘƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZश
Ʋा %ƲǶNjDZƲǷष %ƲǶǀƲǷǘ <ȍǽǶǽǷǘष [NjǷƲǷLJȚǷǘ :ǽDZǽष [ƲȐƲǷLJǽ %ǽǷǘ
ǀा %ƲǶNjDZƲǷष %ƲǶǀƲǷǘ <ȍǽǶǽǷǘष %ƲǶǀȚȐष ƲǶȊȚȍȐƲȍǡ
ǁा [ǡǷLJNjǷष %ǽǷǘ =ȚƲǷǘष ƲǷǘLJȚȗष =ƲǷǘǘƲǶ
LJा bNjǶǀƲǷǘ [ȚǷLJƲष bƲǀȚǞ [ƲDZǡǶȊƲȗष <ƲȍƲǷǘ ǽLJǽȚष ƲǶȊȚȍȐƲȍǡ

[ȚǶǀNjȍश ȊNjDZNjȐȗƲȍǡǀȚLJƲΘƲाǁǽǶॅǘƲǶǀƲǷǘঃǯȍǽǶǽǷǘ ॲࡳࡱࡲࡴॳ


ࡲࡱा %ƲǶǀƲȍ LJǡ ƲȗƲȐ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ Ǯǡȍȣǡ ǶȚȐǡǯि

eȍȭȰȅ LjǴLjȍ UǡȍǮLj͕LjLjȍ ǝLjȍ


XǡǭǡȣǡȍȦǷ =LjǷȍ࢓ [ǗLjȍ WX
ȓǝǡ ǝǷǖLj͏LjǴ ǷȍǷ࢒

%ƲǶǀƲȍ ࡳा ࡺ WX ȓǝǡ eǷǡȗ ࡳ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡲࡱࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


KEMENTRIAN PENDIDIKAN, KEBUDAYAAN, RISET, DAN KEBUDAYAAN
REPUBLIK INDONESIA, 2021
Buku Panduan Guru Seni Musik
untuk SMA/SMK Kelas X

ISBN: 978‐602‐244‐301‐8 (jil.1 )

4-(3 
,DMBHOS@J@M LTRHJ
RDCDQG@M@ eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡱࡶ
eȍǷȭ ߝ ࢒
BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ
XNjǯǽǶNjǷLJƲȐǡ ƲDZǽǯƲȐǡ ΒƲǯȗȚ ࡹ Η ࡵࡶ ǶNjǷǡȗ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ

ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjȍǀƲǘƲǡ ȐȚǶǀNjȍष ǬNjǷǡȐष


LJƲǷ ǀNjǷȗȚǯ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǶȚȐǡǯƲDZǡȗƲȐ ΘƲǷǘ
ǀƲǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲǷƲDZǡȐǡȐ ǯƲȍΘƲ ȊȍǡǀƲLJǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ȊȍƲǯȗǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ LJǡȊNjȍȗƲǷǘǘȚǷǘ
ǬƲΒƲǀǯƲǷा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ ǶNjǶǀƲǷǘȚǷ
ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲ

ǡȦȅȣǷȠȦǷ UǡȌǖǡȇLjȂLjȣLjȍ
UƲLJƲ ȗƲǞƲȊ ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷǡȗ ǯNjȗǡǘƲ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjDZƲǬƲȍǡ
ȊȍǽȐNjȐ ǶNjǷǁǡȊȗƲ ǶȚȐǡǯ ȐNjǁƲȍƲ ȐNjLJNjȍǞƲǷƲा UȍǽȐNjȐ ȊNjǷǁǡȊȗƲƲǷ ǶȚȐǡǯ ǡǷǡ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ ǀNjȍǀƲǘƲǡ ǬNjǷǡȐ ǶȚȐǡǯ ॲΑǽǯƲDZ LJƲǷ
ǡǷȐȗȍȚǶNjǷॳष ȗNjǯǷǡǯष LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲ
ΘƲǷǘ LJǡȊǡDZǡǞा NjǷǘƲǷ ǀNjǯƲDZ ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯष
ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯष ȐNjȍȗƲ ȊNjǶƲǞƲǶƲǷ
ȗNjǷȗƲǷǘ ǀNjȍǀƲǘƲǡ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯॅ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ȊƲLJƲ ȚǷǡȗ ȐNjǀNjDZȚǶǷΘƲ
ॲȚǷǡȗ ࡲ LJƲǷ ࡳॳष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘƲǬƲȍǯƲǷ ȗNjǯǷǡǯ ǶNjǷǁǡȊȗƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ
ǯNjȊƲLJƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶƲǞƲǶƲǷ
ȗNjǷȗƲǷǘ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗঃƲDZƲȗॅȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǷǘǽȍǯNjȐȗȍƲȐǡ ǶƲȚȊȚǷ ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ȐNjǀȚƲǞ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ǶNjǷƲȍǡǯा
UNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ǶNjǶƲǞƲǶǡ ǯǽǷȐNjȊঃǯǽǷȐNjȊ LJƲȐƲȍ ȚǷȗȚǯ ǶNjǷǁǡȊȗƲǯƲǷ
ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा UȍǽȐNjȐ ƲΒƲDZ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǡǷǡ LJǡǶȚDZƲǡ LJNjǷǘƲǷ

ࡲࡱࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȊȍǽȐNjȐ ȊNjǶǀȚƲȗƲǷ ǘƲǘƲȐƲǷॅ ǡLJNj ǀNjȍLJƲȐƲȍǯƲǷ ǡǷȐȊǡȍƲȐǡ ΘƲǷǘ LJǡǶǡDZǡǯǡा NjǷǘƲǷ
ȊƲǷLJȚƲǷ ǘȚȍȚष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ ǯNjǀNjǀƲȐƲǷ ǀNjȍȊǡǯǡȍष
ǀNjȍȊNjǷLJƲȊƲȗष LJƲǷ ǀNjȍNjǯȐȊȍNjȐǡ ȚǷȗȚǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǡLJNjঃǡLJNj ǶȚȐǡǯ ΘƲǷǘ
ǯȍNjƲȗǡǗा
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀƲǞƲǷॅ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ
ȚǷȗȚǯ ǶNjǷǘNjǯȐȊȍNjȐǡǯƲǷ ǡLJNjঃǡLJNj ΘƲǷǘ LJǡǶǡDZǡǯǡा UƲLJƲ ȗƲǞƲȊƲǷ ǡǷǡष ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȊNjȍDZȚ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ LJƲǷ ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ LJƲȍǡ ƲDZƲȗঃ
ƲDZƲȗ ǶȚȐǡǯॅ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȊǡDZǡǞा [NjDZƲǡǷ LJƲȍǡ ȊNjǶǡDZǡǞƲǷ
ǬNjǷǡȐ ǶȚȐǡǯ ॲΑǽǯƲDZ LJƲǷ ǡǷȐȗȍȚǶNjǷॳ ΘƲǷǘ ƲǯƲǷ LJǡȊǡDZǡǞष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ
ȊNjȍDZȚ ǶNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ ΘƲǷǘ ǀNjǷƲȍ ȗNjǷȗƲǷǘ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯष ǗǽȍǶƲȐǡ
ǀNjȍǶȚȐǡǯष LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ ȚǷȗȚǯ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯष ǡǷLJƲǞष LJƲǷ ǽȊȗǡǶƲDZा NjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊȍǽȐNjȐ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ ǀNjȍȚȊƲ DZƲǘȚ LJƲǷ
ƲȗƲȚ ǯƲȍΘƲ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷा
UƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷा %ȚȍȚ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ
ǶǽLJNjDZ LJƲǷ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷLJǡȐǡ LJǡ DZǡǷǘǯȚǷǘƲǷष
ȐƲȍƲǷƲ ȊȍƲȐƲȍƲǷƲष ǯǽǷLJǡȐǡ ȊNjǶǀNjDZƲǬƲȍƲǷष LJƲǷ ȗƲDZNjǷȗƲ ΘƲǷǘ LJǡǶǡDZǡǯǡ ǽDZNjǞ ȊƲȍƲ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡ ȐNjǯǽDZƲǞ ǶƲȐǡǷǘঃǶƲȐǡǷǘा NjǷȗȚǯ LJƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ
DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǀƲǘǡƲǷ ƲDZȗNjȍǷƲȗǡǗ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ȍȚǷȗȚȗƲǷ DZƲǷǘǯƲǞঃDZƲǷǘǯƲǞ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
eǷȗȚǯ LJƲȊƲȗ ǶNjǶȚLJƲǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ ǶNjDZƲǯȐƲǷƲǯƲǷ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȊƲLJƲ ȚǷǡȗ ࡴ ǡǷǡष ǶƲǯƲ ƲǯƲǷ LJǡȐƲǬǡǯƲǷ ȊƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷȗȚǯ LJNjDZƲȊƲǷ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲष ΘƲǷǘ ƲǯƲǷ LJǡǯNjDZǽǶȊǽǯǯƲǷ
ǯNj LJƲDZƲǶ ࡵ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷा BƲȐǡǷǘঃǶƲȐǡǷǘ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȊNjȍȗNjǶȚƲǷा [NjȗǡƲȊ ȊNjȍȗNjǶȚƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ƲLJƲDZƲǞ ࡵࡶ ǶNjǷǡȗष LJNjǷǘƲǷ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjǷǡDZƲǡƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ߛ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߛ ǝLjȍ ߜ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳष ǘȚȍȚ ǶNjǶǀNjȍǡǯƲǷ
ȊNjǶƲȊƲȍƲǷ ȗNjǷȗƲǷǘ ǯǽǷȐNjȊ LJƲȐƲȍ LJƲDZƲǶ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ȐNjLJNjȍǞƲǷƲा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJƲȊƲȗ LJǡǶȚDZƲǡ LJNjǷǘƲǷ ȊNjǷǁNjȗȚȐƲǷ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡱࡸ


ǡLJNjঃǡLJNj LJƲǷ ȊNjǷȚDZǡȐƲǷ ǯǽǷȐNjȊ ǯǽǶȊǽȐǡȐǡा [NjDZƲǷǬȚȗǷΘƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǶNjǷNjǷȗȚǯƲǷ ȊNjǶǡDZǡǞƲǷ ǀƲǞƲǷष ǬNjǷǡȐ ǶȚȐǡǯष LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ
LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǀNjȍƲǷǡ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǡLJNjঃǡLJNj ǶȚȐǡǯƲDZ ΘƲǷǘ LJǡǶǡDZǡǯǡ LJNjǷǘƲǷ
ǯȍNjƲȗǡǗ LJƲǷ ǶNjǷȚƲǷǘǯƲǷ ǡLJNjঃǡLJNj ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯǽǷȐNjȊ ǶȚȐǡǯ ΘƲǷǘ
ȗNjȍȗȚDZǡȐ LJNjǷǘƲǷ ǬNjDZƲȐ LJƲǷ ȗNjȍȊNjȍǡǷǁǡा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ
ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ
ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǶNjDZǽLJǡष ȗNjǶȊǽष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ
ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा
[NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ
ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ȗNjǷȗƲǷǘ
ǯǽǷȐNjȊ ȊNjǷǁǡȊȗƲƲǷ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ
ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǯǽǷȐNjȊ ȊNjǷǁǡȗƲƲǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ
ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ
ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष
ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ
ȚȐȚDZƲǷ ǯǽǷȐNjȊ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ
ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ
ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ȗNjǯȐ DZƲǘȚ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ
ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߜ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߝ ǝLjȍ ߞ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵष ǘȚȍȚ ǶNjǷǘNjǷƲDZǯƲǷ

ࡲࡱࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ ȊNjǷǁǡȊȗƲƲǷ
ǯƲȍΘƲ ǶȚȐǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǀNjDZƲǬƲȍ ǶNjǷǘNjǷƲǡ ǗȚǷǘȐǡ DZǡȍǡǯॅ ȗNjǯȐ LJƲDZƲǶ
DZƲǘȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶƲǞƲǶǡ
ǗǽȍǶƲȗॅ ǀNjǷȗȚǯ DZǡȍǡǯ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǷΘȚȐȚǷƲǷǷΘƲष ȐNjȊNjȍȗǡ ǗǽȍǶƲȗ
ष ष ष ǗǽȍǶƲȗ ǀNjǀƲȐ ॲȭǴȣȓȰǮǴ ǗȓȌȠȓȦǡǝॳा UƲLJƲ ȊƲǷLJȚƲǷ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǘƲΘƲ ȊNjǷȚDZǡȐƲǷ
ȗNjǯȐ ǀNjȍLJƲȐƲȍǯƲǷ ǯƲȗNjǘǽȍǡ ǶȚȐǡǯ ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ
ǷǽǷȗȍƲLJǡȐǡǽǷƲDZष LJNjǷǘƲǷ LJǡȐNjȍȗƲǡ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा
ǀा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡǶǡȗƲȐǡ LJƲǷ ǶNjǷΘƲǷΘǡǯƲǷ DZƲǘȚ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ
ǶNjǷǘǘȚǷƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा %ȚȍȚ LJƲȊƲȗ ȊȚDZƲ
ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ LJǡȊNjȍȐǡƲȊǯƲǷ ǶƲȚȊȚǷ
ǶNjǷǘǘȚǷƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǘȚȍȚा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjǷȚDZǡȐƲǷ DZƲǘȚ ǀNjȍLJƲȐƲȍǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡǶǡǷƲȗǡष ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष
ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǷΘƲǷΘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
LJा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΑǽǯƲDZ ॲDZƲǘȚঃDZƲǘȚॳ ΘƲǷǘ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष
LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjȍǀƲǘƲǡ
ǶƲǁƲǶ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ
ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ƲǯƲǷ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा
UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ LJƲȍǡ
DZƲǘȚঃDZƲǘȚ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ
LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ
ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ǯȍNjƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡱࡺ


ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ DZǡǷǘǯȚǷǘƲǷ LJƲǷ ǶƲȐΘƲȍƲǯƲȗा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ
LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ
LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
Njा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष ǶNjǷǘǡǶǡȗƲȐǡष LJƲǷ ǶNjǷΘƲǷΘǡǯƲǷ DZƲǘȚ ǀNjȍLJƲȐƲȍǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ
ࡵࡶ ǶNjǷǡȗॳा
ߝ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߟ ǝLjȍ ߠ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷष ǘȚȍȚ ǶNjǷǘǘƲDZǡ ǯNjǶƲǶȊȚƲǷ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǶǀȚƲȗ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ ǶƲȚȊȚǷ
ǀNjȍǯNjDZǽǶȊǽǯष LJNjǷǘƲǷ ǶNjDZƲDZȚǡ ȊȍǽȐNjȐ ȊNjǷΘȚȐȚǷƲǷ ǷǽȗƲȐǡॅǞƲȍǶǽǷǡȐƲȐǡष
ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷष LJƲǷ ǯNjȐNjȐȚƲǡƲǷ ǽȍǯNjȐȗȍƲȐǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा UƲLJƲ ȗƲǞƲȊ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯ ȊNjǷΘȚȐȚǷƲǷ ǶȚȐǡǯ ΑǽǯƲDZ ǯNj LJƲDZƲǶ ǯǽǷȐNjȊ
ǯǽǶȊǽȐǡȐǡॅ ȊNjǷǘǽȍǯNjȐȗȍƲȐǡƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा %ȚȍȚ
ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा NjǷȗȚǯঃǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ǶNjDZǡȊȚȗǡ ȊNjȍǶƲǡǷƲǷ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ LJƲǷ ǀNjȍǶƲǡǷ ǘȍȚȊ ॲDZNjǀǡǞ LJƲȍǡ ȐƲȗȚ
ǽȍƲǷǘॳश LJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ǘȍȚȊ ǯNjǁǡDZष LJƲǷ ǘȍȚȊ ǀNjȐƲȍा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ
ȐNjǁƲȍƲ ȍǡǷǁǡ ȗNjǷȗƲǷǘ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ LJƲȍǡ ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ
LJƲǷ ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjǀƲǘƲǡ ǀƲǞƲǷ ȊNjǶǀȚƲȗƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ
ȊNjǷƲǶȊǡDZƲǷঃȊNjǷƲǶȊǡDZƲǷ ǶȚȐǡǯा
ǀा UƲLJƲ ȗƲǞƲȊ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ
ȗNjǯǷǡǯ ǯǽǶȊǽȐǡȐǡ ΑǽǯƲDZ LJƲǷ ǯǽǶȊǽȐǡȐǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘNjDZƲǀǽȍƲȐǡǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ
NjǯȐȊȍNjȐǡ ǶȚȐǡǯॳ LJNjǷǘƲǷ DZNjǀǡǞ ȗNjȍȊNjȍǡǷǁǡा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ LJƲǷ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲDZƲǶ ǶNjǷǘǞƲȐǡDZǯƲǷ
ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा
UNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ
ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ LJƲȍǡ ȊNjȐNjȍȗƲ LJǡLJǡǯा %ȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯा

ࡲࡲࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LJा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ
ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ
ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ
ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ
ƲǯƲǷ ȊȍǽȐNjȐ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ȊNjǷǁǡȊȗƲƲǷ ǶȚȐǡǯ
ȐNjLJNjȍǞƲǷƲ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ
LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ
ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष
ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ
ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ
ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
Njा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा <NjǘǡƲȗƲǷ
ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߞ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߡ ǝLjȍ ߢ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹष ǘȚȍȚ LJƲȊƲȗ ǶNjǶƲȐȗǡǯƲǷ
ȊNjǷǘȚƲȐƲƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ LJƲǷ ǀNjȍǯNjDZǽǶȊǽǯ LJƲDZƲǶ
ȐNjǀȚƲǞ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ȐNjǷǡष ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ ȗƲǞƲȊ ǡǷǡ ƲǯƲǷ LJǡǯǽDZƲǀǽȍƲȐǡǯƲǷ
LJNjǷǘƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȐƲǬǡƲǷ ǶȚȐǡǯ
ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲȊƲȗ LJǡǯNjǶƲȐ LJNjǷǘƲǷ DZNjǀǡǞ ǶNjǷƲȍǡǯ LJƲǷ LJƲȊƲȗ DZNjǀǡǞ
ǶNjǷǁNjȍǶǡǷǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞष ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ
ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡲࡲ


ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ
ΒƲΒƲȐƲǷ ΘƲǷǘ DZȚƲȐ ȗNjǷȗƲǷǘ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ LJƲǷ ǁƲȍƲ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ
ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ ǀNjȍLJƲǶȊƲǯा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ
ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ
ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ
ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ
ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ
ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǀNjǷȗȚǯ ȐƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ / ǝLjȍ //


<ǽǷȐNjȊঃ<ǽǷȐNjȊ LJƲDZƲǶ BNjǷǁǡȊȗƲ BȚȐǡǯ [NjLJNjȍǞƲǷƲ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJNjǷǘƲǷ ǯǽǷȐNjȊঃǯǽǷȐNjȊ LJƲȐƲȍ
ǶNjǷǁǡȊȗƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǯǽǷȐNjȊ ǶNjǷǁǡȊȗƲ ǶȚȐǡǯ LJƲDZƲǶ
ǀNjǷȗȚǯ ȗȚDZǡȐƲǷ ΘƲǷǘ ȗNjȍȊNjȍǡǷǁǡ LJƲǷ ȗNjȍLJǽǯȚǶNjǷȗƲȐǡǯƲǷ
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡ ǶƲȚȊȚǷ ȐNjȐƲǶƲ LJƲǷ ΘƲǷǘ
ǶNjǶǀƲǷǘȚǷ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा
BLjȭǡȣǷ Uȓȅȓȅ
<ǽǷȐNjȊ LJƲȐƲȍ LJƲDZƲǶ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ LJƲȊƲȗ LJǡǶȚDZƲǡ
LJNjǷǘƲǷश

ࡲࡲࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡲा /LJNjॅǘƲǘƲȐƲǷ
UȍǽȐNjȐ ȊNjǶǀȚƲȗƲǷ ǡLJNjॅǘƲǘƲȐƲǷ ǡǷǡ ǀǡȐƲ ǀNjȍLJƲȐƲȍǯƲǷ ǡǷȐȊǡȍƲȐǡ ΘƲǷǘ
LJǡǶǡDZǡǯǡ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǀǡȐƲ ǶNjǷLJƲȊƲȗǯƲǷ ǡLJNj
ƲȗƲȚ ǘƲǘƲȐƲǷ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ ȐNjǞƲȍǡঃǞƲȍǡष ȐNjȊNjȍȗǡ ǯNjǡǷLJƲǞƲǷ ƲDZƲǶष
ȊNjȍȐƲǞƲǀƲȗƲǷष ȊNjȍȗNjǶƲǷƲǷष ǯNjǁǡǷȗƲƲǷ ȊƲLJƲ ȗƲǷƲǞ Ʋǡȍष ǯNjǁǡǷȗƲƲǷ ǯNjȊƲLJƲ
bȚǞƲǷ ΘƲǷǘ BƲǞƲ ȐƲ LJƲǷ DZƲǡǷঃDZƲǡǷा BNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ǯNjǀNjǀƲȐƲǷ ǀNjȍȊǡǯǡȍष ǀNjȍȊNjǷLJƲȊƲȗष LJƲǷ ǀNjȍNjǯȐȊȍNjȐǡ LJƲDZƲǶ ǶNjǷǘǞƲȐǡDZǯƲǷ
ǡLJNjঃǡLJNj ǶȚȐǡǯ ΘƲǷǘ ǯȍNjƲȗǡǗा /LJNj ƲȗƲȚȊȚǷ ǘƲǘƲȐƲǷ LJƲȊƲȗ LJǡȗȚDZǡȐ LJƲDZƲǶ
ǀNjǷȗȚǯ DZǡȍǡǯ DZƲǘȚष ȊȚǡȐǡष ǷƲȐǯƲǞ LJȍƲǶƲष LJƲǷ DZƲǡǷঃDZƲǡǷा
ࡳा ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ǶƲȗNjȍǡ LJƲǷ ǡLJNj ǯǽǶȊǽȐǡȐǡ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷLJNjȐǯȍǡȊȐǡǯƲǷ LJNjǷǘƲǷ ǬNjDZƲȐ LJƲǷ ȗNjȍȊNjȍǡǷǁǡ ƲǘƲȍ LJƲȊƲȗ LJNjǷǘƲǷ
ǶȚLJƲǞ LJǡȊƲǞƲǶǡा ,ƲDZঃǞƲDZ ΘƲǷǘ LJǡȗȚDZǡȐ LJƲDZƲǶ ȊȍǽȐNjȐ LJǽǯȚǶNjǷȗƲȐǡ ǡǷǡष
ƲǷȗƲȍƲ DZƲǡǷश
व UNjǶǡDZǡǞƲǷ ǬNjǷǡȐ ǶȚȐǡǯ ॲ͎ȓǗLjȇࢡ ǷȍȦȭȣȰȌǡȍȭॳ
व $ǽȍǶƲȐǡ ǀNjȍǶȚȐǡǯ ॲǀNjȍǷΘƲǷΘǡॅǀNjȍǶƲǡǷ ǶȚȐǡǯष ȗȚǷǘǘƲDZ ƲȗƲȚȊȚǷ
ǀNjȍǯNjDZǽǶȊǽǯॳ
व [ȗȍȚǯȗȚȍष Ǯǡȍȣǡष LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ǁǡȊȗƲ
ǯƲȍΘƲ ǶȚȐǡǯा
,ƲȐǡDZ ȊNjǷΘȚȐȚǷƲǷ ǷƲȐǯƲǞ ȗNjȍȗȚDZǡȐ ǡǷǡ ȊNjȍDZȚ LJǡȗǡǷLJƲǯ DZƲǷǬȚȗǡ LJNjǷǘƲǷ
ȊȍǽȐNjȐ ȊNjDZNjǘƲDZǡȐƲȐǡƲǷ LJƲǷ LJǡLJƲǗȗƲȍǯƲǷ ǯNjȊƲLJƲ ǞƲǯ ǯNjǯƲΘƲƲǷ ǡǷȗNjDZNjǯȗȚƲDZ
ॲ,</ॳष LJNjǷǘƲǷ DZƲǷǘǯƲǞঃDZƲǷǘǯƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ࡲा UNjǷLJƲǗȗƲȍ ǞƲǯ ǁǡȊȗƲ ȊNjȍDZȚ ǶNjǷǘNjȗƲǞȚǡ ǬNjǷǡȐঃǬNjǷǡȐ LJƲǷ ȐȚǀǬNjǷǡȐ ǁǡȊȗƲƲǷ
ΘƲǷǘ ȐȚLJƲǞ ȊNjȍǷƲǞ LJǡLJƲǗȗƲȍǯƲǷ ȐNjǀƲǘƲǡ ǞƲǯ ǯNjǯƲΘƲƲǷ ǡǷȗNjDZNjǯȗȚƲDZ ȐNjȊNjȍȗǡ
ȗNjȍȗNjȍƲ ȊƲLJƲ ȗƲǀNjDZ LJǡ ǀƲΒƲǞ ǡǷǡा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡲࡴ


bƲǀNjDZ ࡴाࡲ :NjǷǡȐ UNjǷLJƲǗȗƲȍƲǷ ǡȊȗƲƲǷ

Cǽा :NjǷǡȐ ǡȊȗƲƲǷ [ȚǀǬNjǷǡȐ ǡȊȗƲƲǷ


ȗDZƲȐष ǡǽǘȍƲϯष ǽǽǯDZNjȗष ȚǯȚष ȚǯȚ BNjΒƲȍǷƲǡष ȚǯȚ
UƲǷLJȚƲǷॅUNjȗȚǷǬȚǯष ȚǯȚ UNjDZƲǬƲȍƲǷष ȚǯȚ [ƲǯȚष ȚǷǘƲ
XƲǶȊƲǡष NjȍǡȗƲ NjȍǘƲǶǀƲȍष ǡǯȗƲȗष ǽǷǘNjǷǘष Njঃǽǽǯष
ǷȐǡǯDZǽȊNjLJǡƲष :ȚȍǷƲDZष <ƲǶȚȐष <ƲȍΘƲ /DZǶǡƲǞष <ƲȍΘƲ bȚDZǡȐष
<ƲȍΘƲ bȚDZǡȐ ॲƲȍȗǡǯNjDZॳष <ƲȍΘƲ bȚDZǡȐ ॲLJǡȐNjȍȗƲȐǡॳष <ƲȍΘƲ bȚDZǡȐ
ࡲ <ƲȍΘƲ bȚDZǡȐ ॲȐǯȍǡȊȐǡॳष <ƲȍΘƲ bȚDZǡȐ ॲȗNjȐǡȐॳष <ƲȍΘƲ bȚDZǡȐ =ƲǡǷǷΘƲष <ǽǶǡǯष
=ƲȊǽȍƲǷ UNjǷNjDZǡȗǡƲǷष BƲǬƲDZƲǞष BƲǯƲDZƲǞष BǽLJȚDZष CƲȐǯƲǞ
ȍƲǶƲ ॅ UNjȍȗȚǷǬȚǯƲǷष CƲȐǯƲǞ $ǡDZǶष CƲȐǯƲǞ <ƲȍΘƲ [ǡƲȍƲǷष
CƲȐǯƲǞ <ƲȍΘƲ [ǡǷNjǶƲȗǽǘȍƲϯष CǽΑNjDZष UNjȍΒƲǬƲǞƲǷ <ƲȍΘƲ
bȚDZǡȐष UȍǽȊǽȐƲDZ UNjǷNjDZǡȗǡƲǷष UȚǡȐǡष XNjȐNjǷȐǡष XNjȐȚǶNj ॅ
XǡǷǘǯƲȐƲǷष [ƲLJȚȍƲǷष [ǡǷǽȊȐǡȐष bƲǗȐǡȍष bNjȍǬNjǶƲǞƲǷ
DZƲȗ UNjȍƲǘƲष ȍȐǡȗNjǯȗȚȍष ƲDZǡǞǽष ƲǷǷNjȍष ȍǽȐȚȍष ǡǽȍƲǶƲष
$DZΘNjȍष <ƲDZǡǘȍƲϯष <ƲȍΘƲ [NjǷǡ Ʋȗǡǯष <ƲȍΘƲ [NjǷǡ XȚȊƲष <ǽDZƲȐNjष
=NjƲϲNjȗष BǽȗǡǗ [ƲȐǡȍƲǷǘƲǷष BǽȗǡǗ bƲȊǡȐष BǽȗǡǗ bNjǷȚǷ /ǯƲȗष
ࡳ <ƲȍΘƲ [NjǷǡ
BǽȗǡǗ eDZǽȐष UƲǶϲNjȗष UNjȗƲष UǽȐȗNjȍष [NjǷǡ %ƲǶǀƲȍष [NjǷǡ
UƲȗȚǷǘष [NjǷǡ XȚȊƲष [NjǷǡ [ǽǷǘǯNjȗष [NjǷǡ bNjȍƲȊƲǷष [NjǷǡ
eǶȚǶष [NjǷǬƲȗƲ bȍƲLJǡȐǡǽǷƲDZष [ǯNjȗȐƲष [ȊƲǷLJȚǯष eǯǡȍƲǷ
ȍƲǷȐNjǶNjǷष <ƲȍΘƲ ȐȚƲȍƲ ƲȗƲȚ ǀȚǷΘǡष =ƲǘȚ ॲǶȚȐǡǯ LJǘ ȗNjǯȐॳष
BȚȐǡǯष BȚȐǡǯ DZȚȐष BȚȐǡǯ ƲǷǘLJȚȗष BȚȐǡǯ DZNjǯȗȍǡǯष
BȚȐǡǯ $ȚǷǯष BȚȐǡǯ %ǽȐȊNjDZष BȚȐǡǯ ,ǡȊ,ǽȊष XƲȊष XƲȊ
ࡴ <ǽǶȊǽȐǡȐǡ BȚȐǡǯ ǽȍNjष BȚȐǡǯ :ƲΝΝष BȚȐǡǯ <ƲȍƲΒǡȗƲǷष BȚȐǡǯ <DZƲȐǡǯष BȚȐǡǯ
=ƲȗǡǷष BȚȐǡǯ BNjȗƲDZष BȚȐǡǯ UǽȊष BȚȐǡǯ XǞΘȗNjǶ ઝ DZȚȐष
BȚȐǡǯ Xǽǁǯष BȚȐǡǯ [ǯƲष XNjǘǘƲNjष Țǀष BȚȐǡǯ bƲǷȊƲ
bNjǯȐष BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ
$ǡDZǶष $ǡDZǶ NjȍǡȗƲष $ǡDZǶ ǽǯȚǶNjǷȗNjȍष $ǡDZǶ /ǯDZƲǷष $ǡDZǶ
<ƲȍȗȚǷष <ƲȍΘƲ XNjǯƲǶƲǷ qǡLJNjǽष <ƲȍΘƲ XNjǯƲǶƲǷ qǡLJNjǽष
ࡵ <ƲȍΘƲ ȚLJǡǽ qǡȐȚƲDZ <ƲȍΘƲ [ǡƲȍƲǷष <ƲȍΘƲ BNjLJǡƲ XƲLJǡǽष <ƲȍΘƲ BNjLJǡƲ bNjDZNjΑǡȐǡ
ઝ $ǡDZǶष <ƲȍΘƲ [ǡƲȍƲǷ qǡLJNjǽष <ƲȍΘƲ [ǡǷNjǶƲȗǽǘȍƲϯष <ȚDZǡƲǞष
XNjȊǽȍȗƲȐNj
ࡶ <ƲȍΘƲ $ǽȗǽǘȍƲϯ <ƲȍΘƲ $ǽȗǽǘȍƲϯष UǽȗȍNjȗ
ȍƲǶƲॅUNjȍȗȚǷǬȚǯƲǷष ȍƲǶƲ BȚȐǡǯƲDZष <NjȗǽȊȍƲǯष <ǽǶǡȐǡॅ
<ƲȍΘƲ ȍƲǶƲ LJƲǷ =ƲΒƲǯष <ǽȍNjǽǘȍƲϯष =NjǷǽǷǘष =ȚLJȍȚǯष HȊNjȍƲष UƲǷȗǽǶǡǶष

<ǽȍNjǽǘȍƲϯ UNjǷȗƲȐ BȚȐǡǯष UNjΒƲΘƲǷǘƲǷष [NjǷǡ ǯȍǽǀƲȗष [NjǷǡ
UNjȍȗȚǷǬȚǯƲǷष [ǡȍǯȚȐष [ȚDZƲȊष bƲȍǡ ॲ[NjǷLJȍƲ bƲȍǡॳ
ࡸ <ƲȍΘƲ XNjǯƲǶƲǷ NjȍƲǶƲǞष <ǞȚȗǀƲǞष UǡLJƲȗǽ
ƲȐǡȐ ƲȗƲष <ǽǶȊǡDZƲȐǡ ǡȊȗƲƲǷॅƲȗƲष UNjȍǶƲǡǷƲǷ qǡLJNjǽष
ࡹ <ƲȍΘƲ =ƲǡǷǷΘƲ
UȍǽǘȍƲǶ <ǽǶȊȚȗNjȍ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡲࡲࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡳा UNjǷLJƲǗȗƲȍ ǶNjDZNjǷǘǯƲȊǡ DZNjǶǀƲȍ ȊNjȍǷΘƲȗƲƲǷ ȊNjǷǘƲǬȚƲǷ ǞƲǯ ǁǡȊȗƲ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯƲȗNjǘǽȍǡ ǯƲȍΘƲ ǁǡȊȗƲ ΘƲǷǘ ƲǯƲǷ LJǡLJƲǗȗƲȍǯƲǷा =NjǶǀƲȍ ȊNjȍǷΘƲȗƲƲǷ
ǡǷǡ ƲǯƲǷ LJǡȗƲǷLJƲȗƲǷǘƲǷǡ LJǡ ƲȗƲȐ ǶNjȗNjȍƲǡ ȐNjǀƲǘƲǡ ǯǽǶǡȗǶNjǷ DZNjǘƲDZǡȗƲȐ LJƲȍǡ
ȊNjǷLJƲǗȗƲȍ ǞƲǯ ǁǡȊȗƲ ǀƲǞΒƲ ǯƲȍΘƲ ǁǡȊȗƲ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ ǶNjȍȚȊƲǯƲǷ ǯƲȍΘƲ
ȐNjǷLJǡȍǡ ॲȗǡLJƲǯ ǶNjǷǡȍȚ ǯƲȍΘƲ ǽȍƲǷǘ DZƲǡǷॳष ȗǡLJƲǯ ǶNjǶǡDZǡǯǡ ǁƲǁƲȗ ǞȚǯȚǶष
LJƲǷ LJƲȊƲȗ LJǡȊNjȍȗƲǷǘǘȚǷǘǬƲΒƲǀǯƲǷा UNjǷLJƲǗȗƲȍ ,</ ȊNjȍDZȚ ǶNjǷΘǡǶȊƲǷ
LJǽǯȚǶNjǷ ƲȐDZǡ ȐȚȊƲΘƲ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ΑNjȍǡϯǯƲȐǡ ȐNjƲǷLJƲǡǷΘƲ
LJǡǀȚȗȚǞǯƲǷ LJǡ ΒƲǯȗȚঃΒƲǯȗȚ ΘƲǷǘ ƲǯƲǷ LJƲȗƲǷǘा UNjȍǷΘƲȗƲƲǷ ȐNjǁƲȍƲ
DZNjǷǘǯƲȊ LJƲȍǡ eǷLJƲǷǘঃȚǷLJƲǷǘ ǶNjǷǘNjǷƲǡ ,</ LJƲȊƲȗ LJǡDZǡǞƲȗ LJƲDZƲǶ
eǷLJƲǷǘঃeǷLJƲǷǘ CǽǶǽȍ ࡳࡹष ࡳࡱࡲࡵष ȗNjǷȗƲǷǘ ,Ʋǯ ǡȊȗƲा

%ƲǶǀƲȍ ࡴाࡲ =NjǶǀƲȍ UNjȍǷΘƲȗƲƲǷ UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲ BȚȐǡǯष qǡLJNjǽष LJƲǷ DZƲǡǷঃDZƲǡǷ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡲࡶ


[NjȗNjDZƲǞ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȐNjǶȚƲ LJǽǯȚǶNjǷ ȊNjǷLJƲǗȗƲȍƲǷ ,</ष ȊNjǷLJƲǗȗƲȍ
ǞƲǯ ǁǡȊȗƲ ȊNjȍDZȚ ǶNjDZƲǯȚǯƲǷ ȊȍǽȐNjȐ ȍNjǘǡȐȗȍƲȐǡ ȚǷȗȚǯ ǶNjǷLJƲǗȗƲȍǯƲǷ ƲǯȚǷ
ǀƲȍȚ ȊƲLJƲ ȓψǗǷLjȇ ͏ǡǖȦǷȭǡ ǞƲǯǡष NjঃǞƲǯǁǡȊȗƲाLJǘǡȊाǘǽाǡLJ ȐNjǁƲȍƲ ȓȍȇǷȍǡा [NjȗNjDZƲǞ
ȊȍǽȐNjȐ ȊNjǷLJƲǗȗƲȍƲǷ ȓȍȇǷȍǡष ǶƲǯƲ ȊNjǷLJƲǗȗƲȍ ƲǯƲǷ ǶNjǷLJƲȊƲȗǯƲǷ ǯǽǷϯȍǶƲȐǡ
ȊNjǷLJƲǗȗƲȍƲǷ LJƲǷ /ȍ͎ȓǷǗǡ UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲा bƲǞƲȊ ȐNjDZƲǷǬȚȗǷΘƲ ƲLJƲDZƲǞ
ǶNjDZƲǯȚǯƲǷ ȊȍǽȐNjȐ ȊNjǶǀƲΘƲȍƲǷ ǀǡƲΘƲ ,</ ȗNjȍȐNjǀȚȗा NjȐƲȍƲǷ ǷǽǶǡǷƲDZ ΘƲǷǘ
ǞƲȍȚȐ LJǡǀƲΘƲȍǯƲǷ ȗNjDZƲǞ LJǡȗNjǷȗȚǯƲǷ ǽDZNjǞ ȊNjǶNjȍǡǷȗƲǞ LJƲǷ ȗNjȍȗNjȍƲ ȊƲLJƲ /ȍ͎ȓǷǗǡ
UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲ ȗNjȍȐNjǀȚȗा

%ƲǶǀƲȍ ࡴाࡳ ǽǷȗǽǞ /ȍ͎ȓǷǗǡ UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡲࡲࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UȍǽȐNjȐ ȊNjǶǀƲΘƲȍƲǷ ǀǡƲΘƲ ȊNjǷǘƲǬȚƲǷ ,</ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶȚLJƲǞ ǶNjDZƲDZȚǡ bBष LJNjǷǘƲǷ ȍǡǷǁǡƲǷ DZƲǷǘǯƲǞঃDZƲǷǘǯƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ࡲा BƲȐȚǯǯƲǷ <ƲȍȗȚ LJƲǷ U/C bB ा
ࡳा UƲLJƲ LJƲǗȗƲȍ DZƲΘNjȍ ȗƲǶȊǡDZƲǷ ȊǡDZǡǞ ǶNjǷȚश
bȍƲǷȐƲǯȐǡ =ƲǡǷǷΘƲ ੪ UNjǶǀƲΘƲȍƲǷ ੪ BUCॅUƲǬƲǯ ੪ UNjǷNjȍǡǶƲƲǷ CNjǘƲȍƲ ੪ <ǽLJNj ǡDZDZǡǷǘ

<ǽLJNj ǡDZDZǡǷǘ ȗNjȍȗNjȍƲ ȊƲLJƲ LJǽǯȚǶNjǷ /ȍ͎ȓǷǗǡ UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲष


ȊƲLJƲ ǀƲǘǡƲǷ ǷǽǶǽȍ ƲȊDZǡǯƲȐǡा NjȐƲȍ ǷǽǶǡǷƲDZ ΘƲǷǘ ǞƲȍȚȐ LJǡǀƲΘƲȍ ȗNjȍȗNjȍƲ
ȊƲLJƲ LJǽǯȚǶNjǷ /ȍ͎ȓǷǗǡ UNjǷǘƲǬȚƲǷ ,Ʋǯ ǡȊȗƲष ȊƲLJƲ ǀƲǘǡƲǷ ǯƲǷƲǷ ǀƲΒƲǞा
UNjǷLJƲǗȗƲȍ ȊNjȍDZȚ ǶNjǶƲȐȗǡǯƲǷ ȐNjǶȚƲ LJƲȗƲ ȊNjǶǀƲΘƲȍƲǷ ȐȚLJƲǞ ǀNjǷƲȍा
UNjǷLJƲǗȗƲȍ ƲǯƲǷ ǶNjǷNjȍǡǶƲ ȐȗȍȚǯ Țǯȗǡ UNjǷNjȍǡǶƲƲǷ CNjǘƲȍƲ ॲUCॳ ȐNjȗNjDZƲǞ
ǯǽǶϯȍǶƲȐǡ ȊNjǶǀƲΘƲȍƲǷ LJǡDZƲǯȚǯƲǷा [NjȗNjDZƲǞ ȗƲǞƲȊ ȊNjǶǀƲΘƲȍƲǷ LJǡDZƲǯȚǯƲǷष
ǶƲǯƲ ȊNjǷLJƲǗȗƲȍ ,</ ƲǯƲǷ ǶNjǷNjȍǡǶƲ ȐNjȍȗǡϯǯƲȗ [ȚȍƲȗ UNjǷǁƲȗƲȗƲǷ ǡȊȗƲƲǷष
ȐNjȊNjȍȗǡ ȊƲLJƲ ǁǽǷȗǽǞ LJǡ ǀƲΒƲǞ ǡǷǡा

%ƲǶǀƲȍ ࡴाࡴ ǽǷȗǽǞ [NjȍȗǡϯǯƲȗ [ȚȍƲȗ UNjǷǁƲȗƲȗƲǷ ǡȊȗƲƲǷ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽ ष ࡳࡱࡳࡱ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡲࡸ


NjǷǘƲǷ ȊNjǷNjȍǡǶƲƲǷ ȐNjȍȗǡϯǯƲȗ ȗNjȍȐNjǀȚȗष ǶƲǯƲ ȊȍǽȐNjȐ ȊNjǷLJƲǗȗƲȍƲǷ
ǞƲǯ ǯNjǯƲΘƲƲǷ ǡǷȗNjDZNjǯȗȚƲDZ ǀNjȍȚȊƲ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ ȐȚLJƲǞ LJǡǁǡȊȗƲǯƲǷ ƲǯƲǷ
LJǡDZǡǷLJȚǷǘǡ ǯNjƲǀȐƲǞƲǷǷΘƲ ǽDZNjǞ ǷNjǘƲȍƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊƲȍƲ ȐNjǷǡǶƲǷ LJƲǷ
ȊNjǶȚȐǡǯ LJƲȊƲȗ ȗNjȍȚȐ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ LJNjǷǘƲǷ ǯNjȊƲȐȗǡƲǷ ǬƲǶǡǷƲǷ ǀƲǞΒƲ
ǞƲȐǡDZ ǯƲȍΘƲ ȗNjȍȐNjǀȚȗ ƲǯƲǷ LJǡƲǯȚǡ LJƲǷ LJǡDZǡǷLJȚǷǘǡ ǽDZNjǞ ǷNjǘƲȍƲ ȐNjǀƲǘƲǡ ǞƲȐǡDZ
ǯƲȍΘƲ ȊNjǷȚDZǡȐ ΘƲǷǘ ȐȚLJƲǞ LJǡLJƲǗȗƲȍǯƲǷ ǯNj ȊNjǶNjȍǡǷȗƲǞा

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǘǡǷǘƲȗ ǯNjǶǀƲDZǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ NjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ȊƲLJƲ eǷǡȗ ࡲा %ȚȍȚ ǞƲȍȚȐDZƲǞ ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ
ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ
ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ
DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ
ࡷा ȚǯȚ ȗȚDZǡȐ ȚǷȗȚǯ ǶNjǷǁƲȗƲȗ ǡLJNj LJƲǷ ǘƲǘƲȐƲǷा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ƲǯƲǷ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा

ࡲࡲࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjǷȗȚǯ
ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯॅ ȗNjǯȐ DZƲǘȚा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊNjȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ
ǯǽǶȊǽȐǡȐǡ DZǡȍǡǯ LJƲǷ ǶȚȐǡǯ ΑǽǯƲDZष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȊNjǶǀȚƲȗƲǷ DZǡȍǡǯ DZƲǘȚ ȐNjǁƲȍƲ DZȚƲȐ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
LJा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
Njा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ
ǀNjǷȗȚǯॅ ȊǽDZƲ ȊNjǷΘȚȐȚǷƲǷ ȗNjǯȐ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ ȍNjǗNjȍNjǷȐǡा ,ƲDZ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǯƲǡȗƲǷǷΘƲ ƲǯƲǷ DZǡȍǡǯ DZƲǘȚ ȗNjȍǯƲǡȗा
Ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǘा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ƲǯƲǷ ȊNjǷȗǡǷǘǷΘƲ ȊNjǷLJƲǗȗƲȍƲǷ ǯƲȍΘƲ ǁǡȊȗƲ ȐNjȐNjǽȍƲǷǘ
ǯNjȊƲLJƲ ,</ा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
ǡा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃ
ǶȚȐǡǯ ΑǽǯƲDZ LJƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǁǽǀƲ ǶNjǷΘȚȐȚǷ ȗNjǯȐ DZƲǘȚ ΘƲǷǘ LJƲȊƲȗ LJǡȗNjȍƲȊǯƲǷ
ȊƲLJƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲ ȐƲǶȊƲǡ LJNjǷǘƲǷ ȊNjǷΘȚȐȚǷƲǷ DZƲǘȚ ȍƲȊा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
%ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǡLJNjॅ
ǘƲǘƲȐƲǷ ȚǷȗȚǯ ǀǡȐƲ ǶNjǷǁǡȊȗƲǯƲǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा ƲDZƲǶ ȊȍǽȐNjȐ ǶNjǷǁƲȍǡष
ȊNjȐNjȍȗƲ LJǡLJǡǯ ǀǡȐƲ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ
ǶNjǷǘǘȚǷƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ
ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
[NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǡLJNjॅǘƲǘƲȐƲǷ LJƲDZƲǶ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡲࡺ


ǀNjǷȗȚǯ DZǡȍǡǯष ȊȚǡȐǡष ǷƲȐǯƲǞ LJȍƲǶƲ ǀNjȐNjȍȗƲ ȊNjǶǡDZǡǞƲǷ ǬNjǷǡȐ ǶȚȐǡǯष ǗǽȍǶƲȐǡष
ȐȗȍȚǯȗȚȍष Ǯǡȍȣǡष LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ǁǡȊȗƲ ǯƲȍΘƲ
ǶȚȐǡǯा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjǷǁǡȊȗƲ DZƲǘȚष LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǁǽǀƲ ǶNjǷǁǡȊȗƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲ ȐNjǁƲȍƲ ǀNjȍȐƲǶƲঃȐƲǶƲ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ
ǯNjȍǬƲ ΘƲǷǘ LJǡǀNjǷȗȚǯ ǽDZNjǞ ǘȚȍȚा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲ஼ ǯNjǘǡƲȗƲǷ ǡǷȗǡ஼ ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚ஼ ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗ

bƲǀNjDZ ࡴाࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

ࡲࡳࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘष ǶNjǷǘNjǷƲǡ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶƲǡǷ ǶȚȐǡǯा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡴाࡴ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯǽǷȐNjȊ LJƲȐƲȍ LJƲDZƲǶ
ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ȐNjLJNjȍǞƲǷƲा
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȊNjǶǀȚƲȗƲǷ ǡLJNjॅ
ǘƲǘƲȐƲǷ LJƲǷ ȊNjǶǡDZǡǞƲǷ
ǬNjǷǡȐष ǗǽȍǶƲȐǡष ȐȗȍȚǯȗȚȍष
Ǯǡȍȣǡष LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡳࡲ


XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡴाࡵ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ

ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ

ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj


ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǶȊȍƲǯȗǡǯǯƲǷ ǶƲȗNjȍǡ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡴा BNjǷǁƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

ࡲࡳࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ /// ǝLjȍ /q
BNjǷǁǡȊȗƲǯƲǷ =ƲǘȚ [NjLJNjȍǞƲǷƲ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ ȚǷȗȚǯ ǶNjǷǁǡȊȗƲǯƲǷ DZƲǘȚ ȐNjLJNjȍǞƲǷƲ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲǷƲDZǡȐǡȐ ǯƲȍΘƲ ȊȍǡǀƲLJǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǡLJNj LJƲǷ ǘƲǘƲȐƲǷ ȚǷȗȚǯ ǶNjǷǁǡȊঃ
ȗƲǯƲǷ ǯƲȍΘƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ DZƲǘȚ ΘƲǷǘ LJƲȊƲȗ ǶNjǶǀƲǷǘȚǷ ǯƲȍƲǯȗNjȍ
LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ ǶNjǷLJȚǯȚǷǘ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

BLjȭǡȣǷ Uȓȅȓȅ
UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjǷȗƲǷǘ ǶNjǷǁǡȊȗƲ DZƲǘȚ LJƲȊƲȗ LJǡǶȚDZƲǡ LJNjǷǘƲǷ ȗƲǞƲȊƲǷ
ǶNjǶƲǞƲǶǡ ǯǽǷȐNjȊ DZǡȍǡǯ LJƲǷ ȊȍǽȐNjȐ ȊNjǷΘȚȐȚǷƲǷ LJƲǷ ȊNjǶǀȚƲȗƲǷ DZǡȍǡǯ DZƲǘȚा
ƲDZƲǶ ȊȍǽȐNjȐ ǶNjǷǁǡȊȗƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲष ȊNjǶǡDZǡǞƲǷ LJƲǷ ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯ
ǶNjȍȚȊƲǯƲǷ ǞƲDZ ΘƲǷǘ ȐƲǷǘƲȗ ȊNjǷȗǡǷǘ ȚǷȗȚǯ LJǡȊNjȍȐǡƲȊǯƲǷा bNjǯȐॅDZǡȍǡǯ DZƲǘȚ LJƲȊƲȗ
ǶNjǷǬƲLJǡ ȐƲȍƲǷƲ ǶNjǷǘNjǯȐȊȍNjȐǡǯƲǷ ǀNjȍƲǘƲǶ ȊNjȍƲȐƲƲǷ ǶƲǷȚȐǡƲष ȐNjȊNjȍȗǡ ǶƲȍƲǞष
ǀNjǷǁǡष ȍǡǷLJȚष ȐNjǷƲǷǘष ȐNjLJǡǞष ǘȚǷLJƲǞष ǯNjȊȚȗȚȐƲȐƲƲǷष ǞƲȍƲȊƲǷष LJƲǷ DZƲǡǷঃDZƲǡǷा
HDZNjǞ ǯƲȍNjǷƲ ǡȗȚ ȐƲǷǘƲȗDZƲǞ ȊNjǷȗǡǷǘ ȚǷȗȚǯ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ
ȊNjǷȗǡǷǘǷΘƲ ǗȚǷǘȐǡ DZǡȍǡǯॅȗNjǯȐ LJƲDZƲǶ ȐNjǀȚƲǞ DZƲǘȚा [NjDZƲǷǬȚȗǷΘƲ ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǬNjDZƲȐǯƲǷ ȗNjǯǷǡǯ ȊNjǷǁǡȊȗƲƲǷ DZǡȍǡǯॅ ȗNjǯȐ DZƲǘȚ ȗNjȍȐNjǀȚȗ ǀNjȍLJƲȐƲȍǯƲǷ ǗǽȍǶƲȗॅ
ǀNjǷȗȚǯ ȊNjǷΘȚȐȚǷƲǷǷΘƲष ȐNjȊNjȍȗǡ ȊǽDZƲ ȍǡǶƲ ष ष ष ष
ǯȍǽȐȗǡǯष ǀƲǡȗष LJƲǷ ǗǽȍǶƲȗ ǀNjǀƲȐॅǁNjȍǡȗƲ ॲȭǴȣȓȰǮǴ ǗȓȌȠȓȦǡǝॳा

bƲǀNjDZ ࡴाࡵ UǽDZƲ XǡǶƲ

UȓȇLj XǷȌLj bǡȅȦ UȰǷȦǷ


ǯȚ ȐƲǷǘƲȗ ȐƲΘƲǷǘ ȊƲLJƲǷΘƲ
[NjȗǡƲȊ ǞƲȍǡ ƲǯȚ ǀNjȍǶƲǡǷ LJNjǷǘƲǷǷΘƲ

BȚDZƲǡ LJƲȍǡ ȊƲǘǡ ǞǡǷǘǘƲ ȊNjȗƲǷǘ
ƲǞǯƲǷ ȐƲǶȊƲǡ ǶƲDZƲǶ ǶNjǷǬNjDZƲǷǘ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡳࡴ


UȓȇLj XǷȌLj bǡȅȦ UȰǷȦǷ
ǯȚ ȐƲǷǘƲȗ ȐƲΘƲǷǘ ȊƲLJƲǷΘƲ
[NjȗǡƲȊ ǞƲȍǡ ƲǯȚ ǀNjȍǶƲǡǷ LJNjǷǘƲǷǷΘƲ

BȚDZƲǡ LJƲȍǡ ȊƲǘǡ ǞǡǷǘǘƲ ȊNjȗƲǷǘ
ƲǞǯƲǷ ȐƲǶȊƲǡ ǶƲDZƲǶ ǶNjǷǬNjDZƲǷǘ
<ȚǀNjȍǀƲǘǡ ȐȚǯƲ LJƲǷ LJȚǯƲ LJNjǷǘƲǷǷΘƲ
ƲǞǯƲǷ ȐƲƲȗ ƲǯȚ ǀNjȍȐNjǯǽDZƲǞ

ǡƲ ǶNjǷȚǷǘǘȚǯȚ LJNjǷǘƲǷ ȐNjȗǡƲ
[ƲǶǀǡDZ ȗNjȍȐNjǷΘȚǶ ȗƲǯ ȊNjȍǷƲǞ DZNjDZƲǞ
<ǡǷǡ ƲǯȚ ȐȚLJƲǞ ǀNjȐƲȍ
[ǡǀȚǯ LJNjǷǘƲǷ ȗNjǶƲǷঃȗNjǶƲǷǯȚ

[NjǞǡǷǘǘƲ ƲǯȚ ǶNjǷǡǷǘǘƲDZǯƲǷǶȚ
ȚLJȚǯ ȐNjǷLJǡȍǡ LJǡ ȐȚLJȚȗ ǯƲǶƲȍ
<XH[b/< b ਰ ȗƲƲȗ ǀNjȍLJǽƲ LJƲǷ ȗNjǯȚǷ ǀNjDZƲǬƲȍ
e ਰ ȚǷȗȚǯ bȚǞƲǷष ǽȍƲǷǘ ȗȚƲ LJƲǷ ȐNjȐƲǶƲ
, ਰ ǞǡǷǘǘƲ ȐȚƲȗȚ ȐƲƲȗ ǷƲǷȗǡ
 ਰ ƲǯȚ ǀǡȐƲ ǶNjǶǀƲǷǘȚǷ LJƲǷ ǶNjǶǡǶȊǡǷ
C ਰ ǷNjǘƲȍƲ ǡǷǡ ǶNjǷǬƲLJǡ ǷNjǘƲȍƲ ΘƲǷǘ ǶƲǬȚ
[ȚǶǀNjȍश ȐȗNjΑNjƲǘȚȐȗƲȊǽNjǶȐाΒǽȍLJȊȍNjȐȐाǁǽǶॅǀƲǡȗঃLJƲǷঃȍǡǶƲঃȊȚǡȐǡष

%ȚȍȚ LJƲȊƲȗ ǶNjǶƲǡǷǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ DZǡȍǡǯ DZƲǘȚ LJƲȍǡ ǀƲǞƲǷ


ȊNjǷǘƲΘƲƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȊNjǷNjǯƲǷƲǷ ƲǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ȐȚƲȍƲ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ
ΒƲΒƲȐƲǷ ΘƲǷǘ DZȚƲȐ ƲǯƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ LJƲǷ ȊȍǽȐNjȐ ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯ
DZƲǘȚ ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǶǡDZǡǞ LJƲǷ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJǡǯNjǞNjǷLJƲǯǡा [NjDZƲǡǷ LJƲȍǡ ǯNjȗȍƲǶȊǡDZƲǷ ȚǷȗȚǯ ǶNjǷȚDZǡȐ DZǡȍǡǯ DZƲǘȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ
ǬȚǘƲ ȊNjȍDZȚ ȚǷȗȚǯ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲ ΘƲǷǘ ȚȗƲǶƲ ΘƲǡȗȚश ȣLjȍǮǡ
ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॳ LJƲǷ
ΒƲȍǷƲ ǷƲLJƲ ॲȭǷȌǖȣǡॳा

ࡲࡳࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡴाࡶ UNjǶǀƲǘǡƲǷ [ȚƲȍƲ NjȍǷΘƲǷΘǡ sƲǷǡȗƲ NjȍLJƲȐƲȍǯƲǷ XLjȍǮǡ [ȚƲȍƲ LJƲǷ sƲȍǷƲ [ȚƲȍƲ

[ȰLjȣLj sLjȍǷȭLj :ǡȍǷȦ࣡ȂǡȍǷȦ [ȰLjȣLj


[ǽȊȍƲǷ <ǽDZǽȗȚȍƲ =ǡȍǡǯ
[ǽȊȍƲǷ <ǽDZǽȗȚȍƲ ȍƲǶƲȗǡǯ
[ǽȊȍƲǷ =ǡȍǡǯ
[ǽȊȍƲǷ ॲ[ȚƲȍƲ bǡǷǘǘǡ sƲǷǡȗƲॳ
[ǽȊȍƲǷ [ȊǡǷȗǽ
[ǽȊȍƲǷ ȍƲǶƲȗǡǯ
,NjDZLJNjǷȐǽȊȍƲǷ
BNjΝΝǽঃȐǽȊȍƲǷǽ =ǡȍǡǯ
BNjΝΝǽঃȐǽȊȍƲǷ BNjΝΝǽঃȐǽȊȍƲǷǽ <ǽDZǽȗȚȍƲ
BNjΝΝǽঃȐǽȊȍƲǷǽ ȍƲǶƲȗǡǯ
DZȗǽ ॲ[ȚƲȍƲ XNjǷLJƲǞ sƲǷǡȗƲॳ
<ǽǷȗȍƲDZȗǽ <ǽǷȗȍƲDZȗǽ <ǽDZǽȍƲȗȚȍƲ
<ǽǷȗȍƲDZȗǽ =ǡȍǡǯ
<ǽǷȗȍƲDZȗǽ ȍƲǶƲȗǡǯ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

bƲǀNjDZ ࡴाࡷ UNjǶǀƲǘǡƲǷ [ȚƲȍƲ NjȍǷΘƲǷΘǡ UȍǡƲ NjȍLJƲȐƲȍǯƲǷ XLjȍǮǡ [ȚƲȍƲ LJƲǷ sƲȍǷƲ [ȚƲȍƲ
[ȰLjȣLj sLjȍǷȭLj :ǡȍǷȦ࣡ȂǡȍǷȦ [ȰLjȣLj
bNjǷǽȍ =NjǘǘǡNjȍǽ ॲbNjǷǽȍ LJǡ ǘȍƲΝǡƲॳ
bNjǷǽȍ =ǡȍǡǯ
bNjǷǽȍ [ȊǡǷȗǽ
bNjǷǽȍ ॲ[ȚƲȍƲ bǡǷǘǘǡ UȍǡƲॳ bNjǷǽȍ ȍƲǶƲȗǡǯ
,NjDZLJNjǷȗNjǷǽȍ
BǽΝƲȍȗ
bNjǷǽȍ ȚϦǽ ॲ[ȠǷǡȇȭǡȍȓȣॳ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡳࡶ


[ȰLjȣLj sLjȍǷȭLj :ǡȍǷȦ࣡ȂǡȍǷȦ [ȰLjȣLj
ƲȍǡȗǽǷ BƲȍȗǡǷ
ƲȍǡȗǽǷ =ǡȍǡǯ
ƲȍǡȗǽǷ <ǽDZǽȍƲȗȚȍƲ
ƲȍǡȗǽǷ <ƲΑƲDZǡNjȍ
ƲȍǡȗǽǷ
,NjDZLJNjǷǀƲȍǡȗǽǷ
ƲȍǡȗǽǷ qNjȍLJǡ
ƲȍǡȗǽǷ ȍƲǶƲȗǡȐ
ƲȍǡȗǽǷ CǽǀDZNj
ƲȐঃƲȍǡȗǽǷॅ ƲȐ =ǡȍǡǯ
ƲȐ ȍƲǶƲȗǡǯ ॲ,ȓǴǡȣ LjȦȦॳ
:ȰǮǡȍǝȇǷǗǴǡȣ LjȦȦ ॲȐȚƲȍƲ ǀƲȐ ƲǷƲǯ ǶȚLJƲॳ
ƲȐ ƲȐ ȚϦǽ ॲȇ͕ȣǷǗ ǖȰΤȓॳ
ȰΤȓ ȍƲǶƲȗǡǯ ॲ[ǗǴ͏ǡȣǡȣ [ȠǷǡȇǖLjȦȦॳ
LjȦȦȓ Uȣȓǭȓȍǝȓ ॲƲȐ DZǡȍǡǯ ȍNjǷLJƲǞॳ
LjȦȦȓ Uȣȓǭȓȍǝȓ ȍƲǶƲȗǡǯ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ
=ǡȍǡǯ DZƲǘȚ ΘƲǷǘ ȐȚLJƲǞ LJǡȐȚȐȚǷ LJƲȊƲȗ LJǡȊƲLJȚǯƲǷ LJNjǷǘƲǷ ȍƲǷǘǯƲǡƲǷ ǷƲLJƲ
ॲǶNjDZǽLJǡॳष ǞƲȍǶǽǷǡष ȍǡȗǶNjष LJƲǷ ǡȍƲǶƲष ǶNjǷǬƲLJǡ ȐNjǀȚƲǞ ȍƲǷǘǯƲǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯ
ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ ǡǷLJƲǞा NjǷȗȚǯ ȊNjǷNjȍƲȊƲǷ LJƲȍǡ ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯ ǀNjǀƲȐ
LJƲDZƲǶ ǀNjǷȗȚǯ ǁNjȍǡȗƲ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ Ǯǡȍȣǡ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍ ঃ ȍƲȊॅ ȍઝǀष
ǶƲȚȊȚǷ ǀNjȍǀNjǷȗȚǯ ǷΘƲǷΘǡƲǷ ȐȊȍNjǁǞȗǡǶNj ȊƲLJƲ Ǯǡȍȣǡ ǶȚȐǡǯ ǯDZƲȐǡǯा
NjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȐƲǷǘƲȗ ǀNjȍȊNjǷǘƲȍȚǞ LJƲDZƲǶ ȊȍǽȐNjȐ
ǶNjǷǁǡȊȗƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲा NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ ȐNjȐȚƲǡ
LJNjǷǘƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा %ǡȍȣǡ DZƲǘȚ ΘƲǷǘ LJǡǁǡȊȗƲǯƲǷ LJƲȊƲȗ ǀNjȍȚȊƲ
ǶȚȐǡǯ ΑǽǯƲDZ ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा UNjȐNjȍȗƲ LJǡLJǡǯ
ǞƲȍȚȐ LJƲȊƲȗ ǶNjǶǡDZǡǞ LJƲǷ ǶNjǷΘȚȐȚǷ DZǡȍǡǯ DZƲǘȚॅ ȗNjǯȐ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा NjǷȗȚǯ ǗǽȍǶƲȐǡ ȊNjǶȚȐǡǯ
ΘƲǷǘ LJǡǘȚǷƲǯƲǷ LJƲȊƲȗ ǀNjȍȚȊƲ ǶNjǷΘƲǷΘǡ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ ǶƲȚȊȚǷ ǀNjȍǯNjDZǽǶȊǽǯ
ॲLJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ǘȍȚȊ ǯNjǁǡDZष LJƲǷ ǘȍȚȊ ǀNjȐƲȍॳा ǽǷȗǽǞ ǶNjǷΘƲǷΘǡ LJƲDZƲǶ
ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯ LJƲȊƲȗ ǀNjȍȚȊƲ ȊƲLJȚƲǷ ȐȚƲȍƲष ǘȍȚȊ ΑǽǯƲDZष LJƲǷ DZƲǡǷঃDZƲǡǷा

ࡲࡳࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

BǡȍȰȇǷȦ =LjǮȰ࢒ =ǷȣǷȅ ǝȰȇȰ LjȭLjȰ BǡȇȓǝǷ ǝȰȇȰ ࢛


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰঃqyेࡵǞqࡺȗǽ
=͕ȣǷǗLjȇ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀqLJsΒȌ,ǽǶǯȐ
[ȅǡȌLj XǷȌLj ৾ [ȰȅȰ ȅLjȭLj
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ$ǡࡺȊȚbΑǁUǯ
[ȓȍǮ b͕Ƞǡ ৾ $ȇȓ͏
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰsx/ΑȊǷBB
[͕ȇȇLjǖȇǡȦ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡴȗࡷǞxHCࡱࡱ
bǷȌǖȣǡ b͕Ƞǡ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ[ࡲǞ$ࡴb<Ƿǽ
,ȓ͏ ȭȓ [ǷȍǮ qȓǗLjȇ ,LjȣȌȓȍ͕
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȌqࡵ~y/~Η
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡱࡸUΝHǷsǀsࡵ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰe~CHࡲࡴΗ<Uy
,ȓ͏ ȭȓ sȣǷȭǡ ,LjȣȌȓȍ͕
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡶWࡱǷHbȌΗǯ
/ǖȰ UǡȣȭǷ͏Ƿ ࣡ bȣǷȓ
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡴ%s=yǽHB,ǽe

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǘǡǷǘƲȗ ǯNjǶǀƲDZǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ NjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ȊƲLJƲ eǷǡȗ ࡲा %ȚȍȚ ǞƲȍȚȐDZƲǞ ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ
ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡳࡸ


ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ
DZƲǡǷश
ࡲा =ƲȊȗǽȊा
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳा
ࡴा DZƲȗ ȊNjȍNjǯƲǶ ॲǴLjȍǝȠǴȓȍǡ࢓ ȣǡǗȓȣǝǡȣॳा
ࡵा = UȣȓȂǡǗȭȓȣा
ࡶा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ࡷा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯा
ࡸा ȚǯȚ ȗȚDZǡȐ ȚǷȗȚǯ ǶNjǷǁƲȗƲȗ ǡLJNj LJƲǷ ǘƲǘƲȐƲǷा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjǷȗȚǯ
ȊNjǷΘȚȐȚǷƲǷ DZǡȍǡǯॅ ȗNjǯȐ DZƲǘȚा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊNjȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ
ǯǽǶȊǽȐǡȐǡ DZǡȍǡǯ LJƲǷ ǶȚȐǡǯ ΑǽǯƲDZष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȊNjǶǀȚƲȗƲǷ DZǡȍǡǯ DZƲǘȚ ȐNjǁƲȍƲ DZȚƲȐ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
LJा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
Njा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ

ࡲࡳࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǀNjǷȗȚǯॅȊǽDZƲ ȊNjǷΘȚȐȚǷƲǷ ȗNjǯȐ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ ȍNjǗNjȍNjǷȐǡा ,ƲDZ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ LJNjǷǘƲǷ DZǡȍǡǯ DZƲǘȚ ΘƲǷǘ ȗNjȍǯƲǡȗा
Ǘा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯा UNjǷǬNjDZƲȐƲǷ ȚǷȐȚȍ ǶȚȐǡǯ ǡǷǡ ȊNjȍDZȚ LJǡǯƲǡȗǯƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯ
LJƲǷ ǘƲΘƲ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ ǶNjǶƲȊƲȍǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZष ȗNjȍǯƲǡȗ ȣLjȍǮǡ ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ
LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॅLJǡǶƲǡǷǯƲǷॳ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ
ॲȭǷȌǖȣǡॳ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ΑǽǯƲDZ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
DZा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ΑǽǯƲDZ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡǶƲǡǷǯƲǷ LJƲǷ LJǡȊNjDZƲǬƲȍǡा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡳࡺ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ
%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjǷǁǡȊȗƲ DZƲǘȚष LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǁǽǀƲ ǶNjǷǁǡȊȗƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲ ȐNjǁƲȍƲ ǀNjȍȐƲǶƲঃȐƲǶƲ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ
ǯNjȍǬƲ ΘƲǷǘ LJǡǀNjǷȗȚǯ ǽDZNjǞ ǘȚȍȚा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡴाࡸ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲ ƲȗƲȐ ǯNjǀNjȍƲǘƲǶƲǷ
ΘƲǷǘ ƲLJƲ LJǡ C<X/

ࡲࡴࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ %ȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ %ȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡴाࡹ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ ΑǽǯƲDZा

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ

BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲDZƲǶ
ǶNjǷǁǡȊȗƲǯƲǷ DZƲǘȚ
ȐNjLJNjȍǞƲǷƲा
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ǶNjǷǁǡȊȗƲǯƲǷ DZƲǘȚ
ȐNjLJNjȍǞƲǷƲ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐा
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
NjǯȐȊDZǽȍƲȐǡ Ǯǡȍȣǡ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷ
ȗȍƲLJǡȐǡǽǷƲDZ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡴࡲ


XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ %ȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡴाࡺ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ

ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ

ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा <ȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡴा BNjǷǁƲȍǡ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ǀƲȍȚ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

ࡲࡴࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q ǝLjȍ q/
BNjǷǁǡȊȗƲ HȍǯNjȐȗȍƲȐǡ BȚȐǡǯ [NjLJNjȍǞƲǷƲ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ ǶNjǷǁǡȊȗƲ ǽȍǯNjȐȗȍƲȐǡ ǶȚȐǡǯ
ǶNjǷǘǘȚǷƲǯƲǷ ǀNjȍǀƲǘƲǡ ȐȚǶǀNjȍष ǬNjǷǡȐ LJƲǷ ǀNjǷȗȚǯ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǶȚȐǡǯƲDZǡȗƲȐ ΘƲǷǘ
ǀƲǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲǷƲDZǡȐǡȐ ǯƲȍΘƲ ȊȍǡǀƲLJǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǘƲǘƲȐƲǷ ȊNjǷǁǡȊȗƲƲǷ LJƲǷ
ǶNjǷNjȍƲȊǯƲǷǯƲǷǷΘƲ LJƲDZƲǶ ǀNjǷȗȚǯ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ǯǽǷǯȍǡȗा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ
ȊNjǷǘNjǶǀƲǷǘƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶNjष LJƲǷ ǶNjǷLJȚǯȚǷǘ ȊNjȍȐƲȗȚƲǷ
LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

BLjȭǡȣǷ Uȓȅȓȅ
UƲLJƲ ȗƲǞƲȊ ȊNjǷǁǡȊȗƲƲǷ ǽȍǯNjȐȗȍƲȐǡ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǶȊNjDZƲǬƲȍǡ ȗNjǯǷǡǯ ǯǽǶȊǽȐǡȐǡ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjȍƲǘƲǶ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा DZƲȗ
ǶȚȐǡǯ ǡǷǡ LJƲȊƲȗ ǀNjȍǗȚǷǘȐǡ ȐNjǀƲǘƲǡ ǡȍǡǷǘƲǷ ॲȊNjǷǘǡȍǡǷǘ DZƲǘȚॳ ƲȗƲȚȊȚǷ LJƲȊƲȗ
ǀNjȍȚȊƲƲǷȐƲǶǀNjDZǶȚȐǡǯषȐNjȊNjȍȗǡǶȚȐǡǯǽȍǯNjȐॲȓȣǗǴǡȦȭȣLjॳषǶȚȐǡǯǯƲǶƲȍॲǗǴLjȌǖǡȣ
ȌȰȦǷǗॳष ǗȓȌǖȓ ǖLjȍǝ࢓ ȠǷLjȍȓ ȭȣǷȓ࢓ ȠǷLjȍȓ ǗȓȍǗǡȣȭȓ࢓ LJƲǷ DZƲǡǷঃDZƲǡǷा <ǽǶȊǽȐǡȐǡ
ȊNjǶƲǡǷ LJƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡǶƲǡǷǯƲǷ LJƲDZƲǶ ȐNjǀȚƲǞ ǯǽǶȊǽȐǡȐǡॅ
ǽȍǯNjȐȗȍƲȐǡ ǶȚȐǡǯ ȐƲǷǘƲȗ ǶNjǶȊNjǷǘƲȍȚǞǡ LJƲΘƲ ȗƲȍǡǯ ȊNjǷLJNjǷǘƲȍ LJƲǷ ǯȚƲDZǡȗƲȐ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷा [NjDZƲǡǷ ǡȗȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ȗǡǷǘǯƲȗ ǯNjȐȚDZǡȗƲǷ LJƲǷ ȗNjǯǷǡǯ ΘƲǷǘ LJǡȊNjȍDZȚǯƲǷ ȚǷȗȚǯ ǶNjǶƲǡǷǯƲǷ ǯƲȍΘƲঃǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡǀȚƲȗा UNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȊNjǷǘǘȚǷƲƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǶȚȐǡǯ ǯDZƲȐǡǯष ǯǽǷȗNjǶȊǽȍNjȍष ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZष
LJNjǷǘƲǷ ȍǡǷǁǡƲǷ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ࡲा <DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗश ΝƲǶƲǷ UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇ ȠǡȣǷȓǝॳष ΝƲǶƲǷ
XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳष Ʋȍǽǯ ॲLjȣȓȢȰǡॳष <DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳष XǽǶƲǷȗǡǯ
ॲXȓȌLjȍȭǷǗॳष ƲǀƲLJ ǯNjঃࡳࡱ ॲBȓǝǡȣȍॳष LJƲǷ ƲǀƲLJ ǯNjঃࡳࡲा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡴࡴ


ࡳा BȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍश ȊǽȊष ȍǽǁǯष ǬƲΝΝष ǀDZȚNjȐष Xઝष ǞǡȊ ǞǽȊष LJƲǷ DZƲǡǷঃDZƲǡǷा
ࡴा BȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲश %ƲǶNjDZƲǷष bNjǶǀƲǷǘ [ȚǷLJƲष %ƲǶǀƲǷǘ
<ȍǽǶǽष %ǽǷǘ =ȚƲǷǘष <ǽǶǀǡष [NjǷƲǷLJȚǷǘ :ǽDZǽष [ƲȐƲǷLJǽ %ǽǷǘष bƲǀȚǞ
[ƲDZǡǶȊƲȗष <ƲȍƲǷǘ ǽLJǽȚष LJƲǷ DZƲǡǷঃDZƲǡǷा
ࡵा BȚȐǡǯ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZश ǶȚȐǡǯ ǯNjȍǽǷǁǽǷǘष LJƲǷǘLJȚȗष ǘƲǶǀȚȐष DZƲǷǘǘƲǶष
ǁƲǶȊȚȍȐƲȍǡष LJƲǷ DZƲǡǷঃDZƲǡǷा
NjǷǘƲǷ ǶNjǶƲǞƲǶǡ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷNjǷȗȚǯƲǷ ǬNjǷǡȐ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǶƲǡǷǯƲǷष ȗNjǯǷǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷष
LJƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷा
bNjǯǷǡǯ ȊNjǷǁǡȊȗƲƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡLJƲȊƲȗ LJƲȍǡ ȗNjǯǷǡǯ ǶNjǷǁǡȊȗƲ DZƲǘȚ LJƲȊƲȗ
ǬȚǘƲ LJǡƲȊDZǡǯƲȐǡǯƲǷ LJƲDZƲǶ ǶNjǷǁǡȊȗƲ ǽȍǯNjȐȗȍƲȐǡ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ȊǽDZƲ ǯǽǶȊǽȐǡȐǡ ΑǽǯƲDZ ॲDZǡȍǡǯॳ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯǽǶȊǽȐǡȐǡ
ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷष ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡴाࡲࡱ NjǷȗȚǯ UǽDZƲ =ƲǘȚ
ǡȍȭȰȅ UȓȇLj
=LjǮȰ
=LjǮȰ
NjǷȗȚǯ =ƲǘȚ
[ƲȗȚ ॲ$ȍƲȐƲॳ

NjǷȗȚǯ =ƲǘȚ
[ƲȗȚ ƲǘǡƲǷ
ॲUNjȍǡǽLJNj ঃ Ʋ ǀॳ

NjǷȗȚǯ =ƲǘȚ
[ƲȗȚ ƲǘǡƲǷ
ॲUNjȍǡǽLJNj %ƲǷLJƲ
ঁ Ʋ Ʋও Ʋ Ʋওॳ

[ȚǶǀNjȍश [ȗNjǡǷष ࡲࡺࡷࡳश ࡶ

ࡲࡴࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ ȊNjȍDZȚ ǶNjǶǀNjȍǡ ȊNjǷNjǯƲǷƲǷ ƲǯƲǷ
ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ ΘƲǷǘ ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷ LJƲȍǡ ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ
ǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍȐNjǀȚȗष ȊƲȍƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȗNjǯǷǡǯঃȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȚǷȗȚǯ
ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǯǽǶȊǽȐǡȐǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ΘƲǷǘ LJǡȍNjǷǁƲǷƲǯƲǷा UNjȐNjȍȗƲ
LJǡLJǡǯ ȊNjȍDZȚ ǶNjǶƲǞƲǶǡ ǬƲȍƲǯ ǷƲLJƲ ॲǬƲȍƲǯ ȗǡǷǘǘǡঃȍNjǷLJƲǞ ǷƲLJƲॳ LJƲȍǡ ȐNjȗǡƲȊ ƲDZƲȗ
ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯा

%ƲǶǀƲȍ ࡴाࡵ ǽǷȗǽǞ ǬƲȍƲǯ ǷƲLJƲ ȊƲLJƲ ƲDZƲȗ ǶȚȐǡǯ ȗǡȚȊ


[ȚǶǀNjȍश =NjNj ǞǡǷǘ ǞǡǷǘष ࡲࡺࡺࡷश ࡴࡹ

%ȚȍȚ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ΘƲǷǘ ȗNjDZƲǞ LJǡǀNjȍǡǯƲǷ ȊƲLJƲ


ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃǀƲǞƲǷ ΘƲǷǘ
ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǶƲǷLJǡȍǡ ǽDZNjǞ ǘȚȍȚा
[NjDZƲǷǬȚȗǷΘƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ȚǷȗȚǯ ǶNjǶƲǞƲǶǡ ȗǡǶǀȍNj LJƲȍǡ ȐNjȗǡƲȊ
ȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞ LJƲDZƲǶ ǶNjǷǘǽȍǯNjȐȗȍƲȐǡ ǶƲȚȊȚǷ ǶNjǷǁǡȊȗƲǯƲǷ
ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯा ,ƲDZ ǡǷǡ LJǡȊNjȍDZȚǯƲǷ ȚǷȗȚǯ ǶNjǶƲǞƲǶǡ ǯȚƲDZǡȗƲȐ ȐȚƲȍƲ ΘƲǷǘ
ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷ LJƲȍǡ ǞƲȍǶǽǷǡȐƲȐǡ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡴࡶ


bǷȌǖȣǡ
bȚǷǡǷǘ $ǽȍǯ

$DZȚȗNj

qǽǡǁNj

%ȚǡȗƲȍ

%ƲǶǀƲȍ ࡴाࡶ sƲȍǷƲ ǷƲLJƲ ॲȭǷȌǖȣǡॳ


[ȚǶǀNjȍश ǞȗȗȊȐशॅॅΒΒΒाǶȚȐǡǁǡǷLJȚȐȗȍΘǞǽΒȗǽाǁǽǶॅΒǞƲȗঃǡȐঃȗǡǶǀȍNjঃǡǷঃǶȚȐǡǁॅ

UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǶƲȚȊȚǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ ȗNjǯǷǡǯ


ȗȍƲLJǡȐǡǽǷƲDZ ॲǯǽǷȐNjȍΑƲȗǡǗॳ LJƲǷ ǶǽLJNjȍǷष ǶƲȚȊȚǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ
NjǯȐȊNjȍǡǶNjǷȗƲDZा NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ LJƲǷ ȊNjǷNjȍƲȊƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ
ǀƲǡǯ LJƲǷ ȗNjȊƲȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡ ॲNjȍƲ ǶȚȐǡǯ ǯDZƲȐǡǯ
ǀƲȍƲȗष ǯǽǷȗNjǶȊǽȍNjȍ ǶȚȐǡǯष ȗȍƲLJǡȐǡǽǷƲDZष LJƲǷ ǷǽǷȗȍƲLJǡȐǡǽǷƲDZष ǶƲȚȊȚǷ
ȊNjǷǘǘƲǀȚǷǘƲǷॅǗȚȐǡǽǷ LJƲȍǡ ǘƲΘƲঃǘƲΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗॳा

LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

qǷǝǡȓ UǡȌǖǡȇLjȂLjȣLjȍ࢒ ȍȦLjȌǖǡȇ ǝLjȍ UǡȍǮǮȓȇȓȍǮLjȍ ȇLjȭ BȰȦǷȅ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡶxࡸΑWbࡷeȚࡵ
ȍȦLjȌǖȇǡ %ǷȭLjȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰeȍǞqेࡸ,X/
LjȭLjȅ Bǡǝȇǡ͕
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰLJǘyࡵ[ǬXyXȗ
<ȓȇLjǖȓȣLjȦǷ BȰȦǷȅ XǡǮǮLjǡ ǝǡȍǮLjȍ %LjȌǡȇLjȍ
ߞ ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰWǞࡺǘǯBΝΗ:BઝDZǡȐȗਰXWǞࡺǘǯBΝΗঃ
:BઝȐȗƲȍȗेȍƲLJǡǽਰࡲઝȗਰࡲࡶࡶ
ȍȦLjȌǖȇǡ ȍǮȅȇȰȍǮ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀǁǬǽࡷࡸ%<ȊǬȐ

ࡲࡴࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ UDZƲȐȗǡǯ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǀा ǶǀNjȍॅǘƲDZǽǷ Ʋǡȍ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǁा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
LJा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ ॲLJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡष ࡶঃࡹ ǡǷǁǡष LJƲǷ LJǡ ƲȗƲȐ
LJǡƲǶNjȗNjȍ ࡺ ǡǷǁǡॳ
Njा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा DZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा BƲǁƲǶঃǶƲǁƲǶ Ȑȗǡǁǯ LJȍȚǶश ǯƲΘȚष LJा [NjǷLJǽǯ LJƲǷ ǘƲȍȊȚ
ǷǡDZǽǷष ǖȣȰȦǴ࢓ ȌLjȇȇǡȭ࢓ ǖȰȍǝȇǡष Njा Uǡǁǯ ǘǡȗƲȍ
ƲDZȗNjȍǷƲȗǡǗ Ȑȗǡǁǯ LJȍȚǶ ॲȦ͕ȍȭǴǡȭǷǗॳ Ǘा ǽΒ ǀǡǽDZƲ ॲǀNjȍǶƲǁƲǶঃǶƲǁƲǶ
ǀा DZƲȗ ȊNjǶȚǯȚDZ ȊƲȍƲDZǽǷ LJƲȍǡ ǀƲǞƲǷ ȚǯȚȍƲǷॳ
ǯƲȍNjȗ ॲȍƲǯNjȗ ȗNjǷǡȐ ǶNjǬƲॳ ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ǁा DZƲȗ ȊNjǶȚǯȚDZ LJƲȍǡ ǀNjȐǡॅ DZǽǘƲǶ
ࡹा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǗȓȍȭȣLj ǖLjȦȦ ȭǡȍȓȣ ȣǡǗȓȣǝǡȣ࢓ LJƲǷ ǖLjȦȦ ȣǡǗȓȣǝǡȣ࢚
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ LJा LJƲǷ DZƲǡǷঃDZƲǡǷ
Ǘ࢚ [ȓȠȣLjȍȓ ȣǡǗȓȣǝǡȣष Ljȇȭȓ ȣǡǗȓȣǝǡȣ࢓

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡴࡸ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ǯNjȊƲLJƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ LJƲǷ ǶNjǷLJƲDZƲǶ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ
ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǶNjǶƲǯǷƲǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ
ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ȊNjǷȗǡǷǘǷΘƲ ȊNjǷǘȚƲȐƲƲǷ ȍǡȗǶNj
LJƲǷ ǞƲȍǶǽǷǡ LJƲDZƲǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ LJƲǷ ǯǽǶȊǽȐǡȐǡा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ LJƲǷ ǶNjǶƲǡǷǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ȗNjǯǷǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅ
LJǡȊNjDZƲǬƲȍǡा
ǡा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡǶǡȗƲȐǡ LJƲǷ ǶNjǶƲǡǷǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ȗNjǯǷǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅ
LJǡȊNjDZƲǬƲȍǡा
Ǭा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯा

ࡲࡴࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯॅǁƲȍƲ
ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀȚƲȗ ǯƲȍΘƲ
ǶȚȐǡǯष ǀNjȍLJƲȐƲȍǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȐNjȍȚȊƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ
LJƲǷ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǀȚƲȗ ǀƲǡǯ ǡǷLJǡΑǡLJȚ
ǶƲȚȊȚǷ ǯNjDZǽǶȊǽǯष ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲǷ
ǁƲȍƲ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा
ƲDZƲǶ ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ
ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ǀNjȍǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ǞǽDZǡȐȗǡǯ LJƲǷ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ
ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ǀƲǡǯ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲ஼ ǯNjǘǡƲȗƲǷ ǡǷȗǡ஼ ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ
ȊNjǷȚȗȚȊा [NjDZƲǡǷ ǡȗȚ஼ ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ
ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼
ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ %ȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡ ǶNjDZǡȊȚȗǡश

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡴࡺ


CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡴाࡲࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞ

ࡲࡵࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
ǘNjǷȍNj ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ǶNjǷǁǡȊȗƲǯƲǷ
ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ LJNjǷǘƲǷ
ǶNjǷǘǘƲǀȚǷǘǯƲǷ
DZǡȍǡǯ DZƲǘȚ LJƲǷ ǞƲȐǡDZ
ȊNjǷΘȚȐȚǷƲǷ ǷǽȗƲȐǡॅ
ǞƲȍǶǽǷǡȐƲȐǡष ȗNjǯǷǡǯ
ȊNjȍǶƲǡǷƲǷष LJƲǷ
ǯNjȐNjȐȚƲǡƲǷ ǽȍǯNjȐȗȍƲȐǡ
LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡴाࡲࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ

ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ

ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡵࡲ


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ॲǯǽǷȐNjȍΑƲȗǡǗॳष ǶǽLJNjȍǷष LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ NjǯȐȊNjȍǡǶNjǷȗƲDZा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǀƲȍȚ LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡴा BNjǷǁƲȍǡ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ǀƲȍȚ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q// ǝLjȍ q///


BNjǷǘNjǶƲȐ [ƲǬǡƲǷ <ƲȍΘƲ BȚȐǡǯ ǡȊȗƲƲǷ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲDZƲǶ ǶNjǷǘNjǶƲȐ ȐNjǀȚƲǞ ȐƲǬǡƲǷ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ LJǡǁǡȊȗƲǯƲǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ NjȍƲा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȐƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯ LJƲǷ
ǶNjǷƲȍǡǯ
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲǷƲDZǡȐǡȐ ȊNjǷǘNjǶƲȐƲǷ ȐƲǬǡƲǷ ǶȚȐǡǯ ȊȍǡǀƲLJǡ
LJNjǷǘƲǷ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा

ࡲࡵࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǀNjȍƲǘƲǶ ǘƲǘƲȐƲǷ ȊNjǷǘNjǶƲȐƲǷ
ȐƲǬǡƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǯǽǷȗNjǯȐ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊǡDZǡǞा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ
ȊNjȍȗȚǶǀȚǞƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ ǶNjǶǀƲǷǘȚǷ ȊNjȍȐƲȗȚƲǷ
LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा
BLjȭǡȣǷ Uȓȅȓȅ
UNjǷǘNjǶƲȐƲǷ ȐNjǀȚƲǞ ȐƲǬǡƲǷ ǶȚȐǡǯ ǶNjȍȚȊƲǯƲǷ ǞƲȐǡDZ ƲǯǞǡȍ LJƲȍǡ ȐNjǶȚƲ
ȊȍǽȐNjȐ ǶNjǷǁǡȊȗƲ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा %ƲǘƲȐƲǷঃǘƲǘƲȐƲǷॅǡLJNj ǶȚȐǡǯ ΘƲǷǘ
LJǡNjǯȐȊDZǽȍƲȐǡ ƲǯƲǷ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯा NjǷǘƲǷ
ǀNjȍǀƲǘƲǡ ǶƲǁƲǶ ȊNjȍȗǡǶǀƲǷǘƲǷ ƲǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡǘȚǷƲǯƲǷष
ǗǽȍǶƲȐǡ ȊNjǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ ǶNjǶƲǡǷǯƲǷष ȗNjǯǷǡǯ ȊNjȍǶƲǡǷƲǷष LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞष ƲǯƲǷ ǶNjǷǬƲLJǡ ǀƲǞƲǷ ǯƲǬǡƲǷ ȚǷȗȚǯ ǶNjǷNjǷȗȚǯƲǷ ȊȍǽȐNjȐ
ȊNjǷǘNjǶƲȐƲǷ ȐƲǬǡƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
UNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ǶNjǷǘNjǷƲDZ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷॅȐƲǬǡƲǷ ǶȚȐǡǯ
ȚǷȗȚǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ΒƲΒƲȐƲǷ ǀƲȍȚ LJƲDZƲǶ ǶNjǷǘNjǶƲȐ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ȗNjDZƲǞ LJǡǁǡȊȗƲǯƲǷा ǽǷȗǽǞ LJƲȍǡ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ǡǷǡ LJƲȊƲȗ LJǡDZǡǞƲȗ
ȊƲLJƲ ǀƲǘǡƲǷ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚष ǶƲȚȊȚǷ LJƲȍǡ ǀƲǞƲǷঃ
ǀƲǞƲǷ DZƲǡǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȐǡƲȊǯƲǷ ǽDZNjǞ ǘȚȍȚा UƲLJƲ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ
ȊNjȍDZȚ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ ǯȍNjƲȗǡΑǡȗƲȐ LJƲDZƲǶ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯा UNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǘƲǀȚǷǘǯƲǷ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ॲǯǽǶȊǽȐǡȐǡ ȊNjǶƲǡǷॳष
Ǯǡȍȣǡ ǶȚȐǡǯष ǶƲȚȊȚǷ ǶNjǷǘǘƲǀȚǷǘǯƲǷॅǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯঃ
ǀNjǷȗȚǯ ȐNjǷǡ LJƲǷ ǀǡLJƲǷǘ ǯNjǡDZǶȚƲǷ DZƲǡǷǷΘƲा

LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

ȍȦLjȌǖǡȇ ȇLjȭ BȰȦǷȅ bȣLjǝǷȦǷȓȍLjȇ [ȰȌLjȭǡȣLj eȭLjȣLj


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǡeNjDZȌǀࡱ<ǘǬW
ȍȦLjȌǖǡȇ %ǷȭLjȣ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǗǯǗqWࡲ~ȌX=ࡱ
ȍȦLjȌǖǡȇ ȰȠ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡳWǞWXঃǽǗUW

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡵࡴ


BLjȇLjǗǗLj ȍȦǡȌǖȇǡ ࣟ [ǡȣȓȂLj
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸȊXyǯǽঃঃƲǁ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ࣐ȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ UDZƲȐȗǡǯ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǀा ǶǀNjȍॅǘƲDZǽǷ Ʋǡȍ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǁा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
LJा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ ॲLJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡष ࡶঃࡹ ǡǷǁǡष LJƲǷ LJǡ ƲȗƲȐ
LJǡƲǶNjȗNjȍ ࡺ ǡǷǁǡॳ
Njा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा DZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा BƲǁƲǶঃǶƲǁƲǶ ȦȭǷǗȅ LJȍȚǶश ǯƲΘȚष LJा [NjǷLJǽǯ LJƲǷ ǘƲȍȊȚ
ǷǡDZǽǷष ǖȣȰȦǴ࢓ ȌLjȇȇǡȭ࢓ ǖȰȍǝȇǡ࢓ ǡ࢚ UǷǗȅ ǘǡȗƲȍ
ƲDZȗNjȍǷƲȗǡǗ Ȑȗǡǁǯ LJȍȚǶ ॲȦ͕ȍȭǴǡȭǷǗॳ Ǘा ǽΒ ǀǡǽDZƲ ॲǀNjȍǶƲǁƲǶঃǶƲǁƲǶ
ǀा DZƲȗ ȊNjǶȚǯȚDZ ȊNjȍƲDZǽǷ LJƲȍǡ ǀƲǞƲǷ ȚǯȚȍƲǷॳ
ǯƲȍNjȗ ॲȍƲǯNjȗ ȗNjǷǡȐ ǶNjǬƲॳ ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ǁा DZƲȗ ȊNjǶȚǯȚDZ LJƲȍǡ ǀNjȐǡॅ DZǽǘƲǶ

ࡲࡵࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡹा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ
ǁा [ǽȊȍƲǷǽ ȍNjǁǽȍLJNjȍष ƲDZȗǽ ȍNjǁǽȍLJNjȍष ȗNjǷǽȍ ȍNjǁǽȍLJNjȍष LJƲǷ ǀƲȐȐ ȍNjǁǽȍLJNjȍा
LJा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ƲǯƲǷ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȊNjǷƲǶȊǡDZƲǷ ǯȍNjƲȐǡ
ǀȚǷΘǡঃǶȚȐǡǯ ǯNjȊƲLJƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ LJƲǷ ǶNjǷLJƲDZƲǶ
ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐƲǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ǡǷȐȊǡȍƲȗǡǗ ΘƲǷǘ ǀNjȍǞȚǀȚǷǘƲǷ LJNjǷǘƲǷ ȊNjǷƲǶȊǡDZƲǷ ǯȍNjƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯा
,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ
ǶNjǷǘƲǷƲDZǡȐǡȐ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡵࡶ


ǘा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ȊNjǷȗǡǷǘǷΘƲ ǶNjǶǡDZǡǯǡ ΒƲΒƲȐƲǷ
ΘƲǷǘ DZȚƲȐ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ǶȚȐǡǯष ǘƲΘƲ ǶȚȐǡǯष ǀNjȍǶƲǁƲǶঃǶƲǁƲǶ
ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ǁƲȍƲ ǶNjǶƲǡǷǯƲǷǷΘƲा
Ǟा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ LJƲǷ ǶNjǷƲǶȊǡDZǯƲǷ ȐNjǀȚƲǞ ǯȍNjƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯा
ǡा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷƲǶȊǡDZǯƲǷ ǞƲȐǡDZ ǁǡȊȗƲ
ǯƲȍΘƲ DZƲǘȚ ȐNjLJNjȍǞƲǷƲ ǶNjȍNjǯƲा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲȗƲȐ ȊNjǷƲǶȊǡDZƲǷ ǯȍNjƲȐǡ ǶȚȐǡǯ
LJƲȍǡ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚLJƲǷȊNjȐNjȍȗƲLJǡLJǡǯȐƲDZǡǷǘǀNjȍǀƲǘǡȊNjǷǘƲDZƲǶƲǷƲǯƲǷȊNjȍǶƲǡǷƲǷLJƲǷȊNjǷΘƲǬǡƲǷ
ǯȍNjƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा
%ȚȍȚLJƲȊƲȗǶNjǶǀƲǘǡȊNjȐNjȍȗƲLJǡLJǡǯLJƲDZƲǶǀNjǀNjȍƲȊƲǯNjDZǽǶȊǽǯǯNjȍǬƲाƲDZƲǶȐNjȗǡƲȊ
ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ
ǶNjȍNjǯƲ ǶNjǶƲǡǷǯƲǷ LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ǯȍNjƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ȐNjǀȚƲǞ ȐƲǬǡƲǷ
ǯƲȍΘƲ ȐNjǷǡा BNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjǷǁƲǷƲǯƲǷष ǶNjǷΘȚȐȚǷष ǶNjǷǘǽȍǯNjȐȗȍƲȐǡष LJƲǷ
ǶNjǶǀȚƲȗ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
LJƲDZƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

ࡲࡵࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡴाࡲࡵ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ ǘȚȍȚ


ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼ ȐNjLJƲǷǘ
LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ

BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ


ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲ ƲȗƲȐ ǯNjǀNjȍƲǘƲǶƲǷ
ΘƲǷǘ ƲLJƲ LJǡ C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡴाࡲࡶ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǶǀȚƲȗƲǷ ǯȍNjƲȐǡ
ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯ
LJƲǷ ǡǷǽΑƲȗǡǗ

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡵࡸ


CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǶƲǞƲǶǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ
ǀƲǡǯ LJƲǷ ǶNjǷƲȍǡǯ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȊNjǷΘȚȐȚǷƲǷ ǯȍNjƲȐǡ
ǀȚǷΘǡঃǶȚȐǡǯ LJNjǷǘƲǷ
ȚȐƲǞƲ ǯNjȍƲȐ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡴाࡲࡷ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ

ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ

ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ࡲࡵࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj


ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा UNjǷΘȚȐȚǷƲǷ LJƲǷ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ȐNjǷǡ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ LJƲǷ ǡǷǽΑƲȗǡǗ
ࡳा BNjǶǀȚƲȗ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷNjȍƲȊǯƲǷ ǯȍNjƲȐǡ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ
ǀƲǡǯ LJƲǷ ǶNjǷƲȍǡǯ
ࡴा BNjǶǀȚƲȗ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ǀƲȍȚ LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡵा BNjǶǀȚƲȗ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷNjȍƲȊǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ǀƲȍȚ ΘƲǷǘ LJǡǶǡǷƲȗǡा

eȂǷ <ȓȌȠǡȭǡȍȦǷ

ࡲा :NjDZƲȐǯƲǷ ǯǽǷȐNjȊ LJƲȐƲȍ LJƲDZƲǶ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯि


ࡳा :NjǷǡȐঃǬNjǷǡȐ ǯƲȍΘƲ ǁǡȊȗƲ ΘƲǷǘ ǀǡȐƲ LJǡLJƲǗȗƲȍǯƲǷ ǯNjȊƲLJƲ ,< ǡƲDZƲǞ ॲȐNjǀȚȗǯƲǷ
ǶǡǷा ࡴॳ
ࡴा eǷLJƲǷǘঃȚǷLJƲǷǘ ΘƲǷǘ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ,</ ƲȗƲȚ ,Ʋǯ ǡȊȗƲ
ǀNjȍƲLJƲ ȊƲLJƲ ǷǽǶǽȍ ǀNjȍƲȊƲि ƲǷ ȗƲǞȚǷ ǀNjȍƲȊƲि
ࡵा ƲDZƲǶ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲष ǞƲDZঃǞƲDZ ƲȊƲ ȐƲǬƲ ΘƲǷǘ ǀǡȐƲ
LJǡƲǷǘǯƲȗ ȚǷȗȚǯ ǶNjǷǬƲLJǡ ȐNjǀȚƲǞ ǯƲȍΘƲि
ࡶा [NjǀȚȗǯƲǷ ȊǽDZƲ ȍǡǶƲ LJƲDZƲǶ ȊNjǷǁǡȊȗƲƲǷ DZǡȍǡǯ DZƲǘȚष ǀNjȍLJƲȐƲȍǯƲǷ ǗǽȍǶƲȗ
ȊNjǷΘȚȐȚǷƲǷǷΘƲहह
ࡷा :NjDZƲȐǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ΘƲǷǘ ǶNjǶǀNjǷȗȚǯ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲह

eǷǡȗ ࡴ ঃ BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ [NjLJNjȍǞƲǷƲ ࡲࡵࡺ


ࡸा :NjDZƲȐǯƲǷ ǷƲǶƲ ǬNjǷǡȐ ȐȚƲȍƲ ΒƲǷǡȗƲ ȗNjȍȗǡǷǘǘǡ LJƲǷ ȗNjȍNjǷLJƲǞि
ࡹा ȊƲǯƲǞ ǷƲǶƲ ǬNjǷǡȐ ȐȚƲȍƲ ȊȍǡƲ ȗNjȍȗǡǷǘǘǡ LJƲǷ ȗNjȍNjǷLJƲǞि
ࡺा [NjǀȚȗǯƲǷ ǶƲǁƲǶঃǶƲǁƲǶ ǗǽȍǶƲȗ ƲǷȐƲǶǀNjDZ ǶȚȐǡǯ LJƲǷ ǡǷȐȗȍȚǶNjǷ ǷΘƲह
ࡲࡱा ȊƲǯƲǞ ǬNjǷǡȐ ǶȚȐǡǯ LJƲȍǡ Ǯǡȍȣǡ ǯǽǷȗNjǶȊǽȍNjȍ ΘƲǷǘ ȊNjǷΘȚȐȚǷƲǷ ȍǡǶƲ ǷΘƲ
ǀNjǀƲȐि

eȍȭȰȅ LjǴLjȍ UǡȍǮLj͕LjLjȍ ǝLjȍ


XǡǭǡȣǡȍȦǷ =LjǷȍ࢓ [ǗLjȍ WX
ȓǝǡ ǝǷǖLj͏LjǴ ǷȍǷ࢒

%ƲǶǀƲȍ ࡴाࡷ WX ȓǝǡ eǷǡȗ ࡴ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡲࡶࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


eȍǷȭ ߞ ࢒
BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ
XNjǯǽǶNjǷLJƲȐǡ ƲDZǽǯƲȐǡ ΒƲǯȗȚ LJƲDZƲǶ ǶNjǶȊNjDZƲǬƲȍǡ
ȚǷǡȗ ȊNjǶǀNjDZƲǬƲȍƲǷश ࡹ Η ࡵࡶ ǶNjǷǡȗ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjǯƲǶ ǀNjȍƲǘƲǶ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ
ǶNjǷȚǶǀȚǞǯƲǷ ȍƲȐƲ ǯNjȊNjLJȚDZǡƲǷ ȗNjȍǞƲLJƲȊ ȐNjȐƲǶƲ ǶNjDZƲDZȚǡ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ LJNjǷǘƲǷ LJǡȐǡȊDZǡǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ǯNjȗNjȍȐNjLJǡƲƲǷǷΘƲ LJǡ
ǶƲȐΘƲȍƲǯƲȗष LJNjǷǘƲǷ LJǡȐNjȍȗƲǡ ȊNjǷǘǘȚǷƲƲǷ ȗNjǯǷǽDZǽǘǡा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀNjȍƲǘƲǶ ǶNjLJǡƲ LJƲǷ ǀNjǷȗȚǯ ǶȚȐǡǯ
LJƲDZƲǶ ǶNjǷΘȚȐȚǷ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷƲȍǡǯ LJNjǷǘƲǷ
ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȊNjǶǡDZǡǞƲǷ DZƲǘȚष ȗƲȗƲ ǯNjDZǽDZƲ ȊƲǷǘǘȚǷǘष LJƲǷ ȭǷȌǡ
ȌLjȍLjǮǡȌǡȍȭा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷȚDZǡȐǯƲǷ ȊȍǽȊǽȐƲDZ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ȐNjǀȚƲǞ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ȐNjLJNjȍǞƲǷƲ ΘƲǷǘ ǶNjǶȚƲȗ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ΑǽǯƲDZ LJƲǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷा

ǡȦȅȣǷȠȦǷ UǡȌǖǡȇLjȂLjȣLjȍ
UƲLJƲ ȗƲǞƲȊ ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷǡȗ NjǶȊƲȗ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ LJǡȊƲǷLJȚ ǽDZNjǞ
ǘȚȍȚ ȚǷȗȚǯ DZNjǀǡǞ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ǶƲǷƲǬNjǶNjǷ ǶȚȐǡǯ ȊNjȍȗȚǷǬȚǯƲǷ LJƲȍǡ
ȊȍǽȐNjȐ ȊNjȍNjǷǁƲǷƲƲǷ ȐƲǶȊƲǡ ǯNjȊƲLJƲ ȊȍǽȐNjȐ ȊNjDZƲǯȐƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
NjǷǘƲǷ ǀNjȍǀNjǯƲDZ ǯNjǶƲǶȊȚƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀȚǷΘǡ LJƲDZƲǶ ǶȚȐǡǯ ॲȚǷǡȗ
ࡲॳष ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ॲȚǷǡȗ ࡳॳष
LJƲǷ ȊNjǷǘƲDZƲǶƲǷ ǶNjǷǁǡȊȗƲǯƲǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲ ॲȚǷǡȗ ࡴॳष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
LJǡǀNjǯƲDZǡ LJNjǷǘƲǷ ǯNjǶƲǶȊȚƲǷ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ LJƲDZƲǶ ǶNjǶǀȚƲȗ
ȐȚƲȗȚ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ ǽȊȗǡǶƲDZा NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ
ǬNjǷǡȐঃǬNjǷǡȐ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjǷȗȚǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡDZƲǯȚǯƲǷा UNjǶǡDZǡǞƲǷ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǶNjǶȊNjȍȗǡǶǀƲǷǘǯƲǷ ǬNjǷǡȐ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǶƲǡǷǯƲǷष ȗNjǯǷǡǯ ΘƲǷǘ ƲǯƲǷ

ࡲࡶࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LJǡǘȚǷƲǯƲǷष LJƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡǞƲȐǡDZǯƲǷा NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ
ΘƲǷǘ DZȚƲȐ ƲǯƲǷ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ LJƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ȐNjǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷNjȍƲȊǯƲǷ ǡDZǶȚ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǀƲǡǯ ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǯȍNjƲȗǡǗ LJƲǷ ǶNjǷƲȍǡǯा
UƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ
LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷΘNjȐȚƲǡǯƲǷ ǯNjǀȚȗȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǯǽǷLJǡȐǡ ȐNjǯǽDZƲǞष ȐƲȍƲǷƲ
ȊȍƲȐƲȍƲǷƲष ǯǽǷLJǡȐǡ ȊNjǶǀNjDZƲǬƲȍƲǷष LJƲǷ ǯNjǶƲǶȊȚƲǷ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा NjǷȗȚǯ
LJƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ
ǀƲǘǡƲǷ ƲDZȗNjȍǷƲȗǡǗ ȊNjǶǀNjDZƲǬƲȍƲǷ LJǡ ȐNjȗǡƲȊ ȚǷǡȗ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷा
eǷȗȚǯ LJƲȊƲȗ ǶNjǶȚLJƲǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ ǶNjDZƲǯȐƲǷƲǯƲǷ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȊƲLJƲ ȚǷǡȗ ࡵ ǡǷǡष ǶƲǯƲ ƲǯƲǷ LJǡȐƲǬǡǯƲǷ ȊƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷȗȚǯ ࡹ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲष ΘƲǷǘ ƲǯƲǷ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ
ࡵ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷा BƲȐǡǷǘঃǶƲȐǡǷǘ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȊNjȍȗNjǶȚƲǷा [NjȗǡƲȊ ȊNjȍȗNjǶȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍLJȚȍƲȐǡ
ȐNjǯǡȗƲȍ ࡵࡶ ǶNjǷǡȗ LJNjǷǘƲǷ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjǷǡDZƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
ߛ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߛ ǝLjȍ ߜ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲष ǘȚȍȚ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǯǽǷȐNjȊ
LJƲȐƲȍ ǶƲǷƲǬNjǶNjǷ ǶNjǷǁƲǯȚȊ ȊNjǷǘNjȍȗǡƲǷ ǶƲǷƲǬNjǶNjǷ ȐNjǁƲȍƲ ȚǶȚǶ
ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा [NjDZƲǷǬȚȗǷΘƲ ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ DZǡǶƲ
ǗȚǷǘȐǡ LJƲȐƲȍ LJƲDZƲǶ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡳष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǬNjDZƲȐǯƲǷ
ǞȚǀȚǷǘƲǷ ǯǽǷȐNjȊ LJƲȐƲȍ ǶƲǷƲǬNjǶNjǷ LJNjǷǘƲǷ ǀǡLJƲǷǘ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ
LJǡȐNjǀȚȗ LJNjǷǘƲǷ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ǀƲǡǯ ȐNjǁƲȍƲ
ȚǶȚǶ ǶƲȚȊȚǷ ΘƲǷǘ ȐȚLJƲǞ ȗNjȍǯǞȚȐȚȐ ȊƲLJƲ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷा
,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ
LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
LJा UȍǽȐNjȐ NjǯȐȊDZǽȍƲȐǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjȍNjϲNjǯȐǡǯƲǷ ǀNjȍǀƲǘƲǡ
ȊNjǷǘƲDZƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǯNjǡǯȚȗȐNjȍȗƲƲǷ ǶNjǷǬƲLJǡ ȊNjȐNjȍȗƲष ȊƲǷǡȗǡƲ
ǯNjǘǡƲȗƲǷष ƲȗƲȚ ǯNjƲǷǘǘǽȗƲƲǷ LJƲDZƲǶ ȐNjǀȚƲǞ ǽȍǘƲǷǡȐƲȐǡा NjǷǘƲǷ ǀNjǘǡȗȚ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡶࡴ


ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjȗƲǞȚǡ ȊȍǽȐNjȐ ǶƲǷƲǬNjǶNjǷ ȐNjȊNjȍȗǡ ƲȊƲ ΘƲǷǘ
ȊNjȍǷƲǞ LJǡǡǯȚȗǡा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ
LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ
ȊNjǷǘNjǷƲDZƲǷ ƲǯƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा
NjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ
ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ
ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ǀNjȍLJƲǶȊƲǯ ǀƲǘǡ ǶƲȐΘƲȍƲǯƲȗा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ
ǯNjȗNjȍƲǶȊǡDZƲǷा
Njा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗॅ
ǶNjǶǀƲǁƲष ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǶƲȊƲȍǯƲǷ ȊNjǷǘƲDZƲǶƲǷ ǡǷLJǡΑǡLJȚ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ǯNjȊƲLJƲ ȗNjǶƲǷ ȐƲȗȚ ǯNjDZƲȐǷΘƲा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ
ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߜ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߝ ǝLjȍ ߞ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΑǽǯƲDZ LJNjǷǘƲǷ ǶNjǶȊNjDZƲǬƲȍǡ DZNjǀǡǞ
ǶNjǷLJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǬNjǷǡȐ ȐȚƲȍƲ ॲΑǽǯƲDZॳष ȐNjȊNjȍȗǡ ȐȚƲȍƲ [ǽȊȍƲǷǽ ॲ[ॳष DZȗǽ
ॲॳष bNjǷǽȍ ॲbॳष LJƲǷ ƲȐȐ ॲॳ ȐNjȍȗƲ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ ΑǽǯƲDZ
ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ LJƲǷ ǘȍȚȊ ॲDZNjǀǡǞ LJƲȍǡ ȐƲȗȚ ǽȍƲǷǘॳश LJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ΑǽǯƲDZ
ǘȍȚȊष ƲǷȐƲǶǀNjDZ ȐȚƲȍƲष ǶNjǷΘƲǷΘǡ ǯƲǶƲȍ ॲǗǴLjȌǖǡȣ ȦǷȍǮǡȣȦॳष LJƲǷ ȊƲLJȚƲǷ
ȐȚƲȍƲा
ǀा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡵष ǘȚȍȚ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ǀNjǷȗȚǯ
ǽȍǯNjȐȗȍƲȐǡ LJƲȍǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΑǽǯƲDZ ȗƲǷȊƲ ǡȍǡǷǘƲǷ ॲLjǗLjȠǡȇȇLjॳ ǶƲȚȊȚǷ
LJNjǷǘƲǷ ǡȍǡǷǘƲǷ ǶȚȐǡǯा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ॲǗǽȍǶƲȐǡ ǀNjȍǶȚȐǡǯॳ LJƲǷ ǬNjǷǡȐ ǶȚȐǡǯ
ΑǽǯƲDZ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ
ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ
ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा

ࡲࡶࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LJा UȍǽȐNjȐ NjǯȐȊDZǽȍƲȐǡ ǶȚȐǡǯ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा BNjDZƲDZȚǡ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjȍLJƲDZƲǶ
ȊNjǶƲǞƲǶƲǷ ȗNjǷȗƲǷǘ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲȍǡȗǶNjष ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष
LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳा UNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ LJƲȊƲȗ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ॲǗǽȍǶƲȐǡ ǀNjȍǶȚȐǡǯॳ
LJƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ
ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ
ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा NjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ
ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ
ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ
ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ ǀƲǘǡ ǶƲȐΘƲȍƲǯƲȗा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ
LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ
LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
Njा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗॅ
ǶNjǶǀƲǁƲष ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ ǬNjǷǡȐঃǬNjǷǡȐ
ǶȚȐǡǯ ΑǽǯƲDZा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ
ࡵࡶ ǶNjǷǡȗॳा
ߝ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߟ ǝLjȍ ߠ࢚
Ʋा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ǀNjȍLJƲȐƲȍǯƲǷ ȊNjǷǘNjDZǽǶȊǽǯǯƲǷ ǬNjǷǡȐঃ
ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ॲǗǽȍǶƲȐǡ ǀNjȍǶȚȐǡǯॳ
LJƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ LJƲǷ ǶNjǷǘNjDZǽǶȊǽǯǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ ΘƲǷǘ LJǡǶǡDZǡǯǡा ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ǡǷȐȗȍȚǶNjǷष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ
ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ LJǡȊNjȍȐǡƲȊǯƲǷ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡष ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯॅȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡶࡶ


ǀNjȍLJƲȐƲȍǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ǶȚȐǡǯा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ
ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ
ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯा
ǁा UȍǽȐNjȐ NjǯȐȊDZǽȍƲȐǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ
LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲȍǡȗǶNjष
ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ǡǷȐȗȍȚǶNjǷ ǶȚȐǡǯ ȗNjȍǯƲǡȗा
[NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ
ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲȍǡ ȊȍǽȐNjȐ ȊNjǷǘNjDZǽǶȊǽǯǯƲǷ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ
ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ
LJƲDZƲǶ ȊNjǷǘNjDZǽǶȊǽǯǯƲǷ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा UNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ
ǶNjǷΘƲLJƲȍǡ ȊȍǽȐNjȐ ȊNjǷǘNjDZǽǶȊǽǯƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ
ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ
ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ
LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ȚȐȚDZƲǷ
ȊNjȍȗȚǷǬȚǯǯƲǷ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ DZǡǷǘǯȚǷǘƲǷǷΘƲ
ȐNjǀƲǘƲǡ ȚȊƲΘƲ ǶNjǷǬƲǘƲ ǯNjDZNjȐȗƲȍǡƲǷ ƲDZƲǶ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ
ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ
ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߞ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߡ ǝLjȍ ߢ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸष ǘȚȍȚ LJƲȊƲȗ ǶNjǷǬNjDZƲȐǯƲǷ ȐƲDZƲǞ
ȐƲȗȚ ȊNjǷNjȍƲȊƲǷ ƲΒƲDZ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚঃ
ǯƲǷ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯष ΘƲǡȗȚ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZा %ȚȍȚ LJƲȊƲȗ
ǶNjǶǀNjȍǡǯƲǷ LJƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǁǽǷȗǽǞ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ȐNjǞǡǷǘǘƲ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶǡDZǡǯǡ ǘƲǶǀƲȍƲǷ ȐNjǁƲȍƲ ǬNjDZƲȐ ǶNjǷǘNjǷƲǡ

ࡲࡶࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷा %ȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶঃ
ǀNjDZƲǬƲȍƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶঃ
ǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा [ƲDZƲǞ ȐƲȗȚ ǁǽǷঃ
ȗǽǞǷΘƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ LJǡǀƲǘǡ LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯ LJƲǷ LJǡƲǬƲǯ
ǀNjȍLJǡȐǯȚȐǡ ȐNjȍȗƲ ǶNjǶǡDZǡǞ ȐƲDZƲǞ ȐƲȗȚ ǡLJNj ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡǘȚǷƲǯƲǷ ȚǷȗȚǯ ȊNjȍƲǷǁƲǷǘƲǷ ȊȍǽȊǽȐƲDZ ȊƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡹा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡹ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ LJǡঃ
LJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ LJƲǷ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲDZƲǶ ǶNjǷȚDZǡȐ ȊȍǽȊǽȐঃ
ƲDZ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ǶƲǷƲǬNjǶNjǷ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊǡDZǡǞ ॲΑǽǯƲDZ ƲȗƲȚ ǡǷȐȗȍȚǶNjǷॳा UNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ
ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ȊNjȐNjȍȗƲ
LJǡLJǡǯा [NjDZƲǶƲ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ǡǷǡ ǬȚǘƲ ǘȚȍȚ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǶNjǷǘǘȚǷƲǯƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा UƲLJƲ ƲǯǞǡȍ ȊNjǶǀNjDZƲǬƲঃ
ȍƲǷष ǘȚȍȚ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ǯNjȐNjǶȊƲȗƲǷ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ
ǶNjǶƲȊƲȍǯƲǷ ǞƲȐǡDZ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ǯNjȊƲLJƲ ȗNjǶƲǷ ȐNjǯNjDZƲȐ ȐNjǀƲǘƲǡ
ȊȍǽȐNjȐ ȍNjϲNjǯȐǡ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ΘƲǷǘ ȗNjDZƲǞ LJǡȊNjDZƲǬƲȍǡ ȐNjDZƲǶƲ ȊȍǽȐNjȐ ǯNjঃ
ǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹा
ǁा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǶƲȊƲȍǯƲǷ ȊNjǷǘƲDZƲǶƲǷ ǡǷLJǡΑǡLJȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǯNjȊƲঃ
LJƲ ȗNjǶƲǷ ȐƲȗȚ ǯNjDZƲȐǷΘƲा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ
ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡶࡸ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ / ǝLjȍ //

<ǽǷȐNjȊ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ


ॲUǡȣǭȓȣȌLjȍǗǡ BLjȍLjǮǡȌǡȍȭ ȓȍǗǡȠȭॳ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjǯƲǶ ȊNjǷǘƲDZƲǶƲǷ LJƲȍǡ ǀNjȍƲǘƲǶ ȊȍƲǯȗǡǯ ǀNjȍǶȚȐǡǯ
ȚǷȗȚǯ ǶNjǷȚǶǀȚǞǯƲǷ ǯNjǁǡǷȗƲƲǷ ƲǯƲǷ ǶȚȐǡǯ ǀƲǘǡ LJǡȍǡ ȐNjǷLJǡȍǡष ǽȍƲǷǘ DZƲǡǷष
LJƲǷ ǶƲȐΘƲȍƲǯƲȗा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀNjȍƲǘƲǶ ǶNjLJǡƲ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ǯNjǀȚȗȚǞƲǷ ǶƲȐΘƲȍƲǯƲȗ ΘƲǷǘ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ
ȊNjǷǘǘȚǷƲƲǷ ȗNjǯǷǽDZǽǘǡा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ
ǶȚȐǡǯा

ƲDZƲǶ ǶNjǷΘNjDZNjǷǘǘƲȍƲǯƲǷ ȐNjǀȚƲǞ ȊȍǽΘNjǯ


ƲȗƲȚ ǯNjǘǡƲȗƲǷष LJǡǀȚȗȚǞǯƲǷ ȊNjȍNjǷǁƲǷƲƲǷ
ǀNjȍǀƲǘƲǡ ǯǽǶȊǽǷNjǷ ƲǘƲȍ LJƲȊƲȗ
ȗNjȍDZƲǯȐƲǷƲ LJNjǷǘƲǷ ǀƲǡǯा [ƲǶƲ ǞƲDZǷΘƲ
LJƲDZƲǶ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȐNjǀȚƲǞ ǯNjǘǡƲȗƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǶNjDZǡǀƲȗǯƲǷ ǀƲǷΘƲǯ
ȊǡǞƲǯा [ƲDZƲǞ ȐƲȗȚ ΘƲǷǘ ǞƲȍȚȐ LJǡȊƲǞƲǶǡ
LJƲǷ LJǡȗNjȍƲȊǯƲǷ ǽDZNjǞ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjDZƲǯȚǯƲǷ ȊNjȍNjǷǁƲǷƲƲǷ LJƲǷ ȊNjDZƲǯȐƲǷƲƲǷ
%ƲǶǀƲȍ ࡵाࡲ ,NjǷȍǡ $ǽΘƲDZ
BLjȭǡȣǷ Uȓȅȓȅ
ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ƲLJƲDZƲǞ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷा BƲǷƲǬNjǶNjǷ ǶNjǶǡDZǡǯǡ ǶƲǯǷƲ
ȐNjǀƲǘƲǡ ȍƲǷǘǯƲǡƲǷ ȊȍǽȐNjȐ ȊNjȍNjǷǁƲǷƲƲǷष ȊNjǷǘǽȍǘƲǷǡȐƲȐǡƲǷष ȊNjǶƲǷǗƲƲȗƲǷ
ȐȚǶǀNjȍ LJƲΘƲ LJƲǷ ȊNjǷǘNjǷLJƲDZǡƲǷ ȚǷȗȚǯ ǶNjǷǁƲȊƲǡ ȗȚǬȚƲǷ ΘƲǷǘ LJǡǡǷǘǡǷǯƲǷ
ॲ$ƲΘǽDZष ࡳࡱࡲࡴॳा

ࡲࡶࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


NjǷǘƲǷ ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ ǀƲǡǯष ǀNjȍǀƲǘƲǡ ȗȚǬȚƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ
ǯNjǘǡƲȗƲǷ LJƲȊƲȗ LJǡǁƲȊƲǡ LJNjǷǘƲǷ NjϯȐǡNjǷ LJƲǷ ȗNjȊƲȗ ȐƲȐƲȍƲǷा UNjǷǁƲȊƲǡƲǷ ȗȚǬȚƲǷ
ΘƲǷǘ ǶƲǯȐǡǶƲDZ ȗNjȍȐNjǀȚȗ ǞƲȍȚȐ LJǡLJȚǯȚǷǘ LJNjǷǘƲǷ ǗȚǷǘȐǡ LJƲȍǡ ȊNjǷNjȍƲȊƲǷ
ǶƲǷƲǬNjǶNjǷ ǡȗȚ ȐNjǷLJǡȍǡा BNjǷȚȍȚȗ ,NjǷȍǡ $ƲΘǽDZ ॲࡳࡱࡲࡴॳ ȗNjȍLJƲȊƲȗ ࡶ ǗȚǷǘȐǡ
ȚȗƲǶƲ LJƲȍǡ ǶƲǷƲǬNjǶNjǷष LJǡ ƲǷȗƲȍƲǷΘƲ ƲLJƲDZƲǞश
ǯNjƲǀȐƲǞƲǷǷΘƲ ǽDZNjǞ ǷNjǘƲȍƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊƲȍƲ ȐNjǷǡǶƲǷ LJƲǷ ȊNjǶȚȐǡǯ
LJƲȊƲȗ ȗNjȍȚȐ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ LJNjǷǘƲǷ ǯNjȊƲȐȗǡƲǷ ǬƲǶǡǷƲǷ ǀƲǞΒƲ ǞƲȐǡDZ ǯƲȍΘƲ
ȗNjȍȐNjǀȚȗ ƲǯƲǷ LJǡƲǯȚǡ LJƲǷ LJǡDZǡǷLJȚǷǘǡ ǽDZNjǞ ǷNjǘƲȍƲ ȐNjǀƲǘƲǡ ǞƲȐǡDZ ǯƲȍΘƲ ȊNjǷȚDZǡȐ
ΘƲǷǘ ȐȚLJƲǞ LJǡLJƲǗȗƲȍǯƲǷ ǯNj ȊNjǶNjȍǡǷȗƲǞा
ߛ࢚ UǡȣǡȍǗLjȍLjLjȍ ࣐UȇLjȍǷȍǮ࣑
$ȚǷǘȐǡ LJƲȐƲȍ ƲȗƲȚ ǗȚǷLJƲǶNjǷȗƲDZ LJƲȍǡ ǶƲǷƲǬNjǶNjǷ ǡƲDZƲǞ ȊƲLJƲ ȊNjȍNjǷǁƲǷƲƲǷा
,ƲDZ ǡǷǡ LJǡǯƲȍNjǷƲǯƲǷ ȐNjȍƲǷǘǯƲǡƲǷ ȊȍǽȐNjȐ ΘƲǷǘ ƲǯƲǷ ǀNjȍDZƲǷǘȐȚǷǘ ǞƲȍȚȐ
ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǶNjDZƲDZȚǡ ȊȍǽȐNjȐ ȊNjȍNjǷǁƲǷƲƲǷा UȍǽȐNjȐ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǀNjȍȐǡǗƲȗ LJǡǷƲǶǡȐष ƲȍȗǡǷΘƲ LJƲȊƲȗ ǀNjȍȚǀƲǞ ȐNjΒƲǯȗȚঃΒƲǯȗȚ ȐNjǡȍǡǷǘ LJNjǷǘƲǷ
ȊNjȍǯNjǶǀƲǷǘƲǷ ȐǡȗȚƲȐǡ LJƲǷ ǯǽǷLJǡȐǡ ȊƲLJƲ ȐƲƲȗ ǡȗȚा UNjȍNjǷǁƲǷƲƲǷ ǬȚǘƲ
ǶNjǷǁƲǯȚȊ ȊNjǷNjǷȗȚƲǷ DZƲǷǘǯƲǞ ƲΒƲDZ ΘƲǷǘ ǶNjǷǘƲȍƲǞǯƲǷ ȐNjǀȚƲǞ ǽȍǘƲǷǡȐƲȐǡ
ǶNjǷȚǬȚ ȗƲȍǘNjȗ ƲȗƲȚ ȗȚǬȚƲǷ ΘƲǷǘ LJǡȗNjǷȗȚǯƲǷ ǀNjȍȐƲǶƲा
ߜ࢚ UǡȍǮȓȣǮLjȍǷȦLjȦǷLjȍ ࣐HȣǮLjȍǷ͚ǷȍǮ࣑
ƲDZƲǶ ǶNjǷΘNjDZNjǷǘǘƲȍƲǯƲǷ ǀNjȍǀƲǘƲǡ ȊȍǽΘNjǯ LJƲǷ ǯNjǘǡƲȗƲǷष ǯNjȗNjȍDZǡǀƲȗƲǷ
ǀNjȍǀƲǘƲǡ ȊǡǞƲǯ ȗNjǷȗȚ ƲǯƲǷ ȐƲǷǘƲȗ ǶNjǶǀƲǷȗȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǷǁƲȊƲǡƲǷ
ȗȚǬȚƲǷा CƲǶȚǷ LJNjǷǘƲǷ ǀƲǷΘƲǯǷΘƲ ƲǷǘǘǽȗƲष LJǡǀȚȗȚǞǯƲǷ ǬȚǘƲ ȐǡȐȗNjǶ
ǞǡȍƲȍǯǡ ΘƲǷǘ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjǷΘƲDZȚȍƲǷ ǡǷǗǽȍǶƲȐǡ LJƲǷ ȗƲǷǘǘȚǷǘ
ǬƲΒƲǀ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ǀNjȍDZƲǷǘȐȚǷǘा NjǀNjȍƲȊƲ ǬƲǀƲȗƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǀNjǷȗȚǯ LJƲDZƲǶ ȐNjǀȚƲǞ ȊȍǽΘNjǯ ƲLJƲDZƲǞ ǯNjȗȚƲ LJƲǷ ǗȚǷǘȐǡǽǷƲȍǡȐǷΘƲा
,ƲȍƲȊƲǷǷΘƲष ȐNjǽȍƲǷǘ ǯNjȗȚƲ LJƲȊƲȗ ǶNjǶǀNjǷȗȚǯ LJƲǷ ǶNjǶǡDZǡǞ ȊNjǷǘȚȍȚȐ
ƲȗƲȚ ǗȚǷǘȐǡǽǷƲȍǡȐ ΘƲǷǘ ƲǯƲǷ ǶNjǶǀƲǷȗȚǷΘƲ LJƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷा
ߝ࢚ UǡȍǮLjȣLjǴLjȍ ࣐ȓȌȌLjȍǝǷȍǮ࣑
[NjȗNjDZƲǞ ȐȚȐȚǷƲǷ ǽȍǘƲǷǡȐƲȐǡ ȗNjȍǀNjǷȗȚǯ ȐNjȐȚƲǡ ǗȚǷǘȐǡǷΘƲष ǞƲDZ ȐNjDZƲǷǬȚȗǷΘƲ
ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ƲLJƲDZƲǞ ȊNjǶǀƲǘǡƲǷ LJƲǷ ȊNjǷǘƲȍƲǞƲǷ ȗȚǘƲȐ ȐNjȐȚƲǡ
ǯNjǶƲǶȊȚƲǷ ǶƲȐǡǷǘঃǶƲȐǡǷǘ ƲǷǘǘǽȗƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷ ȐȚǶǀNjȍ LJƲΘƲ
ǶƲǷȚȐǡƲ ॲ[Bॳ ΘƲǷǘ ƲLJƲ LJƲȊƲȗ ǶNjǷΘNjDZNjȐƲǡǯƲǷ ȗȚǘƲȐ LJƲǷ ȗƲǷǘǘȚǷǘ
ǬƲΒƲǀǷΘƲ ǶƲȐǡǷǘঃǶƲȐǡǷǘ LJNjǷǘƲǷ ǀƲǡǯा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡶࡺ


ߞ࢚ UǡȍǮȅȓȓȣǝǷȍLjȦǷLjȍ ࣐ȓȓȣǝǷȍLjȭǷȍǮ࣑
[NjDZƲǶƲ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǀNjȍDZƲǷǘȐȚǷǘष LJǡǀȚȗȚǞǯƲǷǷΘƲ ǯǽǶȚǷǡǯƲȐǡ ΘƲǷǘ
ǀƲǡǯ LJƲǷ DZƲǷǁƲȍ ƲǷȗƲȍ ƲǷǘǘǽȗƲ ƲǘƲȍ ǀNjȍǀƲǘƲǡ ȐǡȗȚƲȐǡ ΘƲǷǘ LJǡǞƲLJƲȊǡ LJƲȊƲȗ
ȗNjȍȊƲǷȗƲȚा [NjDZƲǡǷ ǡȗȚष LJNjǷǘƲǷ ƲLJƲǷΘƲ ǯǽǽȍLJǡǷƲȐǡ ΘƲǷǘ ǀƲǡǯ LJƲȊƲȗ ǶNjǷǬƲǘƲ
ȐNjǶƲǷǘƲȗ LJƲǷ ǶǽȗǡΑƲȐǡ ȐNjȗǡƲȊ ƲǷǘǘǽȗƲ ȚǷȗȚǯ ǶNjǷǁƲȊƲǡ ȗȚǬȚƲǷ ǯNjǘǡƲȗƲǷ
ΘƲǷǘ ȗNjDZƲǞ LJǡȗNjǷȗȚǯƲǷ ȊƲLJƲ ƲΒƲDZ ȊNjȍNjǷǁƲǷƲƲǷा
ߟ࢚ UǡȍǮǡȍǝLjȇǷLjȍ ࣐ȓȍȭȣȓȇȇǷȍǮ࣑
ƲDZƲǶ ǀNjȍǀƲǘƲǡ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷष LJǡǀȚȗȚǞǯƲǷ
ȊNjǷǘNjǷLJƲDZǡƲǷ ȚǷȗȚǯ ǶNjǶƲȐȗǡǯƲǷ ȐNjǶȚƲ ȊȍǽȐNjȐ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ȐȚLJƲǞ
ǀNjȍǬƲDZƲǷ ȐNjȐȚƲǡ ȊNjȍNjǷǁƲǷƲƲǷ LJƲǷ ȗƲǷǘǘȚǷǘ ǬƲΒƲǀ ȐNjȗǡƲȊ ƲǷǘǘǽȗƲा [NjDZƲǡǷ
ǡȗȚष ǗȚǷǘȐǡ ǶƲǷƲǬNjǶNjǷ LJƲDZƲǶ ȊNjǷǘNjǷLJƲDZǡƲǷ ǬȚǘƲ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ
ǽȍǘƲǷǡȐƲȐǡ ƲȗƲȚ ǯNjȊNjǷǘȚȍȚȐƲǷ ȚǷȗȚǯ ǶNjǷǘNjΑƲDZȚƲȐǡ ǯǡǷNjȍǬƲ ƲǘƲȍ LJƲȊƲȗ
ǶNjDZƲǯȚǯƲǷ ȊNjǷǁNjǘƲǞƲǷ ǶƲȐƲDZƲǞ ƲȗƲȚ ȊNjȍǀƲǡǯƲǷ ǯNjȐƲDZƲǞƲǷ ΘƲǷǘ ȐȚLJƲǞ
ȗNjȍǬƲLJǡा
ƲDZƲǶ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȊNjȍDZȚ ǶNjǶƲǞƲǶǡ ǀƲǞΒƲ ȚǷȐȚȍ ǶƲǷƲǬNjȍǡƲDZ ǬȚǘƲ ȐƲǷǘƲȗ LJǡǀȚȗȚǞǯƲǷा ,ƲDZ
ǡǷǡ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ǗƲǯȗƲǷΘƲ ǀƲǞΒƲ LJƲDZƲǶ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȍLJƲȊƲȗ
ǀƲǷΘƲǯ ȊǡǞƲǯ ΘƲǷǘ ȗNjȍDZǡǀƲȗ ƲǯȗǡǗ LJǡ LJƲDZƲǶǷΘƲष ȐNjǞǡǷǘǘƲ LJǡǀȚȗȚǞǯƲǷ ȊƲǷLJȚƲǷ
ƲȗƲȚ ȗƲȗƲ ƲȗȚȍƲǷ ΘƲǷǘ ǶNjǶǀƲǷȗȚ ǬƲDZƲǷǷΘƲ ǯNjȊƲǷǡȗǡƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा

%ƲǶǀƲȍ ࡵाࡳा UNjǷȗƲȐ [NjǷǡ ǯȚ /ǷLJǽǷNjȐǡƲ


[ȚǶǀNjȍश ȊǘǡाǽȍǘाǡLJष ࡳࡱࡲࡺ

ࡲࡷࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


HDZNjǞ ǯƲȍNjǷƲ ǡȗȚष LJƲȍǡ ȊNjǷǬNjDZƲȐƲǷ ȊNjǷǘNjȍȗǡƲǷ LJƲǷ ǀNjȍǀƲǘƲǡ ǗȚǷǘȐǡ
ǶƲǷƲǬNjǶNjǷ ȐNjǁƲȍƲ ȚǶȚǶ LJǡ ƲȗƲȐष BLjȍLjȂǡȌǡȍ UǡȣȭȰȍȂȰȅLjȍ ǶNjǶǡDZǡǯǡ
ǶƲǯǷƲ ȐNjǀƲǘƲǡ ȐNjǘƲDZƲ ȊȍǽȐNjȐ ȊNjȍNjǷǁƲǷƲƲǷष ȊNjǷǘNjDZǽDZƲƲǷष LJƲǷ ȊNjǷǘNjǷLJƲDZǡƲǷ
ΘƲǷǘ ǀNjȍȗȚǬȚƲǷ ȊƲLJƲ ȗNjȍǁƲȊƲǡǷΘƲ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǀƲǡǯा
[ƲDZƲǞ ȐƲȗȚ ȗȚǬȚƲǷ LJƲȍǡ ǀNjȍǀƲǘƲǡ ȊȍǽȐNjȐ ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ȗNjǷȗȚǷΘƲ ǶNjǷǘƲȍƲǞ ȊƲLJƲ ȊNjǷǁƲȊƲǡƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ΘƲǷǘ ǶƲǯȐǡǶƲDZष LJǡ ǶƲǷƲ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȍȐNjǀȚȗ ǀNjȍȗȚǬȚƲǷ ȐNjǀƲǘƲǡ ȐƲȍƲǷƲ
ƲȊȍNjȐǡƲȐǡ ȐNjǷǡ ƲȗƲȚ ǯNjǀȚLJƲΘƲƲǷा ǽǷȗǽǞǷΘƲ ȚǷȗȚǯ ǶNjǷΘNjDZNjǷǘǘƲȍƲǯƲǷ ȐNjǀȚƲǞ
UNjǷȗƲȐ [NjǷǡष LJǡǀNjǷȗȚǯDZƲǞ ǯNjȊƲǷǡȗǡƲƲǷ ΘƲǷǘ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀ ǶNjȍƲǷǁƲǷǘ
LJƲǷ ǶNjDZƲǯȐƲǷƲǯƲǷ ȊȍǽȐNjȐ ǶȚDZƲǡ LJƲȍǡ ȊNjȍȐǡƲȊƲǷष ȊNjDZƲǯȐƲǷƲƲǷष LJƲǷ NjΑƲDZȚƲȐǡ
ȊNjȍȗȚǷǬȚǯƲǷ ȊNjǷȗƲȐ ȐNjǷǡा NjǷǘƲǷ ƲLJƲǷΘƲ ȊNjǶǀNjǷȗȚǯƲǷ ȊƲǷǡȗǡƲ ΘƲǷǘ ǀƲǡǯ
LJƲǷ ȐǽDZǡLJष LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǀƲǡǯ LJƲǷ ǶNjǶȚƲȐǯƲǷ
ȊNjǷǽǷȗǽǷ ȐNjȍȗƲ ȐNjǶȚƲ ȊǡǞƲǯ ΘƲǷǘ ȗNjȍDZǡǀƲȗा
ǯƲǷ ȗNjȗƲȊǡष ȗNjȍǯƲLJƲǷǘ ƲLJƲ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǞƲǷΘƲ ǶNjǷǬƲLJǡ ǀƲǘǡƲǷ
LJƲȍǡ ȐNjǀȚƲǞ ȗȚǬȚƲǷ ǽȍǘƲǷǡȐƲȐǡ ȗNjȍȐNjǀȚȗष LJǡ ǶƲǷƲ ȊNjȍȗȚǷǬȚǯƲǷ ǞƲǷΘƲ ǶNjǷǬƲLJǡ
ȐƲȍƲǷƲ ȚǷȗȚǯ ǶNjǷǁƲȊƲǡ ȗȚǬȚƲǷ ΘƲǷǘ ȐȚLJƲǞ LJǡȗNjǷȗȚǯƲǷा [ƲDZƲǞ ȐƲȗȚ ǁǽǷȗǽǞǷΘƲ
ȐNjȊNjȍȗǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȐƲȍƲǷƲ ȊNjǷǘǘƲDZƲǷǘƲǷ
LJƲǷƲा ƲDZƲǶ ǞƲDZ ǡǷǡ ȗȚǬȚƲǷ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡȍƲǷǁƲǷǘ
ȗǡLJƲǯ ǞƲǷΘƲ ȐNjǀƲȗƲȐ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȍDZƲǯȐƲǷƲ LJNjǷǘƲǷ ǀƲǡǯष ǷƲǶȚǷ ȊȍǽȐNjȐ
ǶƲǷƲǬNjǶNjǷ ǶȚDZƲǡ LJǡDZƲǯȚǯƲǷ ȐNjǬƲǯ ȊNjǷNjǷȗȚƲǷ ȊNjȍǶƲȐƲDZƲǞƲǷ ƲȗƲȚ ǡȐȚ ΘƲǷǘ
LJǡƲǷǘǯƲȗष ȊȍǽȐNjȐ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯष ȐƲǶȊƲǡ LJNjǷǘƲǷ ǀƲǘƲǡǶƲǷƲ
ȊNjǷΘƲDZȚȍƲǷ LJƲǷƲ ǞƲȐǡDZ ȊNjǷǬȚƲDZƲǷ ȗǡǯNjȗ ȊNjȍȗȚǷǬȚǯƲǷ ǡȗȚ ȐƲǶȊƲǡ ǯNj ȊǡǞƲǯ ΘƲǷǘ
ǶNjǶǀȚȗȚǞǯƲǷा

LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

$ȰȍǮȦǷ ǝLjȍ ȌLjȍǭLjLjȭ BLjȍLjȂǡȌǡȍ ȦǡǗLjȣLj ȰȌȰȌ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀ<ࡺy%e$ࡺΘǶǯ
UǡȣȦǷLjȠLjȍ ǝǷǖLjȇǷȅ ȇLj͕Ljȣ HȠǡȍǷȍǮ ǡȣǡȌȓȍ͕ [ %B[ ߜߚߛߛ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡲΘ%Ƿ~b</Hy
BǡȍǮǷȍȭǷȠ UǡȣȦǷLjȠLjȍ HȠǡȍǷȍǮ ǡȣǡȌȓȍ͕ ȦǷLjȍ %LjȌǡȦ ߜߚߛߢ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰWsǗ[ƲࡶࡴΒǞȗy

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡷࡲ


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ƲǯƲǷ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ <ǽǷȐNjȊ BƲǷƲǬNjǶNjǷ eǶȚǶ LJƲǷ ǗȚǷǘȐǡ BƲǷƲǬNjǶNjǷ
ȐNjǁƲȍƲ ȚǶȚǶा
ǀा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ȐNjǁƲȍƲ
ȚǶȚǶ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ ȐNjǞƲȍǡঃǞƲȍǡा
ǁा [NjȗNjDZƲǞ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍ ǁǽǷȗǽǞष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjȍNjϲNjǯȐǡǯƲǷ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ ȐNjǞƲȍǡঃ
ǞƲȍǡा
LJा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ LJǡȍǡ
ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ ȐȚLJƲǞ
LJǡǀNjȍǡǯƲǷा
Njा %ȚȍȚ ǶNjǷƲΘƲǷǘǯƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍ ǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ
ȐNjǁƲȍƲ ȚǶȚǶा
Ǘा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ǯǽǷȐNjȊ LJƲǷ ǗȚǷǘȐǡ
ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǁǽǷȗǽǞा

ࡲࡷࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǘा [NjDZƲǷǬȚȗǷΘƲ ǘȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǯƲǡȗƲǷ <ǽǷȐNjȊ BƲǷƲǬNjǶNjǷ eǶȚǶ LJƲǷ
ǗȚǷǘȐǡ BƲǷƲǬNjǶNjǷ LJNjǷǘƲǷ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ
ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
ǡा [NjȗNjDZƲǞ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍ ǁǽǷȗǽǞष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ ȗNjȍȐNjǀȚȗ
LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ ȐNjǞƲȍǡঃǞƲȍǡ LJƲǷ ȊNjǷǘƲDZƲǶƲǷ ȊȍǡǀƲLJǡा
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ LJƲǷ
NjǯȐȊDZǽȍƲȐǡ LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ ǶƲǷƲǬNjǶNjǷ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷा
ǯा %ȚȍȚ ǶNjǷƲΘƲǷǘǯƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍ ǁǽǷȗǽǞ ȊNjǷNjȍƲȊƲǷ
ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
DZा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ǯǽǷȐNjȊ LJƲǷ ǗȚǷǘȐǡ
ǶƲǷƲǬNjǶNjǷ ΘƲǷǘ LJǡȗNjȍƲȊǯƲǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǁǽǷȗǽǞा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷNjȍƲȊƲǷǷΘƲा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ DZƲǡǷǷΘƲा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ
ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ
ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǯNjǡǯȚȗȐNjȍȗƲƲǷ LJƲDZƲǶ
ǯNjȊƲǷǡȗǡƲƲǷ ȐNjǀȚƲǞ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ǶNjǷƲǶȊǡDZǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡा %ȚȍȚ
LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ
ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ
ǶNjȍNjǯƲ ƲǯƲǷ ǯNjǡǯȚȗȐNjȍȗƲƲǷ ǯNjȊƲǷǡȗǡƲƲǷ ƲȗƲȚ ǞƲDZ ǶNjǷƲȍǡǯ ȐƲƲȗ ǶNjǷǬƲLJǡ
ȊNjǷǽǷȗǽǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȗNjȍǽȍǘƲǷǡȐǡȍ LJNjǷǘƲǷ ǀƲǡǯा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡷࡴ


UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡵाࡲ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ

BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ


ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ

ࡲࡷࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡵाࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷǘNjȍȗǡƲǷ <ǽǷȐNjȊ
BƲǷƲǬNjǶNjǷ eǶȚǶ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjȍǀƲǘƲǡ $ȚǷǘȐǡ
BƲǷƲǬNjǶNjǷ ȐNjǁƲȍƲ ȚǶȚǶ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷǘNjȍȗǡƲǷ
BƲǷƲǬNjǶNjǷ LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ
ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ
BƲǶȊȚ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ȊNjǷǘƲDZƲǶƲǷ BƲǷƲǬNjǶNjǷ
LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ
LJNjǷǘƲǷ UNjȍȗȚǷǬȚǯƲǷ
BȚȐǡǯ ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡷࡶ


bƲǀNjDZ ࡵाࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǶȊȍƲǯȗǡǯǯƲǷ ǶƲȗNjȍǡ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ DZƲǡǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ࡴा BNjǷǁƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

ࡲࡷࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ /// ǝLjȍ /q

BƲǷƲǬNjǶNjǷ [ȚƲȍƲ
ॲqȓǗLjȇ BLjȍLjǮǡȌǡȍȭॳ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjǯƲǶ ȊNjǷǘƲDZƲǶƲǷ ǶȚȐǡǯ ΑǽǯƲDZ LJƲȍǡ ǀNjȍƲǘƲǶ
ȊȍƲǯȗǡǯ ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǷȚǶǀȚǞǯƲǷ ǯNjǁǡǷȗƲƲǷ ƲǯƲǷ ǶȚȐǡǯ ǀƲǘǡ LJǡȍǡ
ȐNjǷLJǡȍǡष ǽȍƲǷǘ DZƲǡǷष LJƲǷ ǶƲȐΘƲȍƲǯƲȗा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀNjȍƲǘƲǶ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǷΘƲǷΘǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ǯNjǀȚȗȚǞƲǷ ǶƲȐΘƲȍƲǯƲȗष ȐNjȍȗƲ
ǶNjǶƲǷǗƲƲȗǯƲǷ ǗȚǷǘȐǡ ȗNjǯǷǽDZǽǘǡा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ƲȐȊNjǯ ΑǽǯƲDZा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯNjǀǡƲȐƲƲǷ ǀNjȍǶȚȐǡǯॅǀNjȍǷΘƲǷΘǡ LJƲǷ
LJǡȐǡȊDZǡǷ ǯȍNjƲȗǡǗ ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǶƲǷƲǬNjǶNjǷ ΑǽǯƲDZ ΘƲǷǘ
ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀ ॲȊNjǶǡDZǡǞƲǷ DZƲǘȚष ȗƲȗƲ ǯNjDZǽDZƲ ȊƲǷǘǘȚǷǘष ǶƲǷƲǬNjǶNjǷ
ΒƲǯȗȚॳा

BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ LJƲȊƲȗ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȊƲLJƲ ǞƲDZ ȊNjǷǘNjDZǽǶȊǽǯƲǷ ȐȚƲȍƲ
ǶƲǷȚȐǡƲ ॲ͎ȓǗLjȇॳ ȐNjǁƲȍƲ ȚǶȚǶ LJNjǷǘƲǷ ȊNjǶǀƲǘǡƲǷ ȐȚƲȍƲ ȊȍǡƲ LJƲǷ ȐȚƲȍƲ
ΒƲǷǡȗƲा [ȚƲȍƲ ǶƲǷȚȐǡƲ LJƲȊƲȗ LJǡǀƲǘǡ ǶNjǷǬƲLJǡ ȐȚƲȍƲ ȗǡǷǘǘǡ ΒƲǷǡȗƲ ॲ[ঃȐǽȊȍƲǷǽॳष
ȐȚƲȍƲ ȍNjǷLJƲǞ ΒƲǷǡȗƲ ॲঃƲDZȗǽॳष ȐȚƲȍƲ ȗǡǷǘǘǡ ȊȍǡƲ ॲbঃȗNjǷǽȍॳष LJƲǷ ȐȚƲȍƲ ȍNjǷLJƲǞ
ȊȍǡƲ ॲঃǀƲȐȐॳा :ƲȍƲǯ ȗǡǷǘǘǡঃȍNjǷLJƲǞ ǷƲLJƲ ǶNjǷΘƲǷΘǡ ȊƲLJƲ ȐNjȗǡƲȊ ǀƲǘǡƲǷ ȐȚƲȍƲ
ॲ[ॅॅbॅॳ ƲLJƲDZƲǞ [ǽȊȍƲǷǽ ॲࡵঃ%ࡶॳष DZȗǽ ॲ%ࡴঃࡶॳष bNjǷǽȍ ॲࡴঃ%ࡵॳष ƲȐȐ
ॲ%ࡳঃࡶॳा UNjǷǽȗƲȐǡƲǷ ǬƲȍƲǯ ǷƲLJƲ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǘƲǶǀƲȍ ǀNjȍǡǯȚȗश

%ƲǶǀƲȍ ࡵाࡴ :ƲȍƲǯ bǡǷǘǘǡঃXNjǷLJƲǞ CƲLJƲ [b


[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲश ࡴࡱࡱ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡷࡸ


UƲȍƲ ȊNjǷΘƲǷΘǡ ȊNjȍDZȚ ǶNjǷǘNjȗƲǞȚǡ ǬNjǷǡȐ ȐȚƲȍƲ ǶNjȍNjǯƲ LJƲDZƲǶ ǀNjȍǷΘƲǷΘǡा
[NjDZƲǡǷ ǡȗȚष ǶNjȍNjǯƲ ǬȚǘƲ ȊNjȍDZȚ ǶNjǶƲǞƲǶǡ ǬƲȍƲǯ ȗNjȍȗǡǷǘǘǡ LJƲǷ ȗNjȍNjǷLJƲǞ ǷƲLJƲ
ΘƲǷǘ LJƲȊƲȗ LJǡǷΘƲǷΘǡǯƲǷ ǀƲǘǡ ȐNjȗǡƲȊ ǀƲǘǡƲǷ ǬNjǷǡȐ ȐȚƲȍƲ ȚǷȗȚǯ LJƲȊƲȗ ȗNjȍǞǡǷLJƲȍ
LJƲȍǡ ȐNjǘƲDZƲ ǀNjǷȗȚǯ ȊNjȍǶƲȐƲDZƲǞƲǷ ΘƲǷǘ LJǡȗǡǶǀȚDZǯƲǷ ǯƲȍNjǷƲ ȊNjǷǘǘȚǷƲƲǷ
ȗNjǯǷǡǯ ǶNjǷΘƲǷΘǡ ΘƲǷǘ ǯȚȍƲǷǘ ȗNjȊƲȗा UNjȍǶƲȐƲDZƲǞƲǷ ǡȗȚ ǶNjDZǡȊȚȗǡ ǯNjȗNjǘƲǷǘƲǷ
ǽȗǽȗ ȐȚƲȍƲष ȐȚƲȍƲ ȊƲȍƲȚष ǷǽLJȚDZष ȐƲǶȊƲǡ LJNjǷǘƲǷ ǯƲǷǯNjȍ ȊǡȗƲ ȐȚƲȍƲा
ƲDZƲǶ ǶƲǷƲǬNjǶNjǷ ȐȚƲȍƲ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ǶNjǷǘNjȗƲǞȚǡ LJƲǷ
ǶNjǶȊNjDZƲǬƲȍǡ ǬNjǷǡȐঃǬNjǷǡȐ ȊNjǷΘƲǬǡƲǷ LJƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ
ǀNjȍǞȚǀȚǷǘƲǷ LJNjǷǘƲǷ ȐȚƲȍƲॅǷΘƲǷΘǡƲǷा NjǷȗȚǯঃǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ ȐȚƲȍƲ
ƲLJƲDZƲǞ ȐNjȊNjȍȗǡश ȐǽDZǽ ΑǽǁƲDZष ǶNjǷΘƲǷΘǡ LJȚNjȗष ǶNjǷΘƲǷΘǡ ȗȍǡǽष ǯΒƲȍȗNjȗष ΑǽǯƲDZ
ǘȍȚȊष ƲǷȐƲǶǀNjDZ ȐȚƲȍƲष ǶNjǷΘƲǷΘǡ ǯƲǶƲȍ ॲǗǴLjȌǖǡȣ ȦǷȍǮǡȣȦॳष LJƲǷ ȊƲLJȚƲǷ ȐȚƲȍƲा
ƲDZƲǶ ǀNjǷȗȚǯ ǽȍǯNjȐȗȍƲȐǡǷΘƲष ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΑǽǯƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ƲǁƲȊNjDZƲ ॲȗƲǷȊƲ ǡȍǡǷǘƲǷॳ ǶƲȚȊȚǷ LJNjǷǘƲǷ ǡȍǡǷǘƲǷ ǶȚȐǡǯा BƲǷƲǬNjǶNjǷ
ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΑǽǯƲDZ ǬȚǘƲ ȊNjȍDZȚ ǶNjǶȊNjȍȗǡǶǀƲǷǘǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȚǷȗȚǯ
ǶNjǷǘǞƲȐǡDZǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǶǡǷƲȗ ȊNjǷLJNjǷǘƲȍा
%ǡȍȣǡ ǶȚȐǡǯ LJƲȊƲȗ ǀNjȍȚȊƲश
व BȚȐǡǯ <DZƲȐǡǯ
व BȚȐǡǯ <ǽǷȗNjǶȊǽȍNjȍ
व BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा
<DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ ǶNjǷǬƲLJǡश
व ~ƲǶƲǷ UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇ व <DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳ
ȠǡȣǷȓǝॳ व XǽǶƲǷȗǡǯ ॲXȓȌLjȍȭǷǗॳ
व ~ƲǶƲǷ XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳ व ǀƲLJ ǯNjঃࡳࡱ ॲBȓǝǡȣȍॳ
व Ʋȍǽǯ ॲLjȣȓȢȰǡॳ व ǀƲLJ ǯNjঃࡳࡲा
<DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ ǶNjǷǬƲLJǡ
%ǡȍȣǡ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍ ǁǽǷȗǽǞǷΘƲ ȐNjȊNjȍȗǡश
व BȚȐǡǯ UHU व BȚȐǡǯ Xઝ
व BȚȐǡǯ Xǽǁǯ व BȚȐǡǯ ,ǡȊ ǞǽȊ
व BȚȐǡǯ :ƲΝΝ व LJƲǷ DZƲǡǷঃDZƲǡǷा
व BȚȐǡǯ DZȚNjȐ

ࡲࡷࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

$Ƿȍǝ yȓȰȣ qȓǗLjȇ XLjȍǮǡ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡱ=ΑǡȚHࡷ,B
bȣǷȓ %LjȌLjȇǷǡȇ Ȱǝȣǡ͕ LjȍȭǷȅLj ࣡ LjǴLjǮǷLj
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ,ΗǞqƲǡǬǶȗࡵ
࣮:LjȍǮǡȣ࣯ ࣡ bǴǡ XǡȦȓȍLjȍ͚ ǴǷȇǝȣǡȍࣱȦ ǴȓǷȣ ࣐bX࣑
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰUࡶC$ǘࡴCyǗy
bǴǡ XǡLjȇ %ȣȓȰȠ ࣡ /ȭ ȓȍࣱȭ BǡLjȍ  bǴǷȍǮ ࣐:Lj͚͚ ǗLjȠǡȇȇLj࣑
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝBेǞࡱǶࡲࡳࡱ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ

%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ


ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΑǽǯƲDZ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ǶȚȐǡǯ ΑǽǯƲDZ
LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍǯƲǡȗ
ࡷा :NjǷǡȐ ǶȚȐǡǯ ǶNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Lj࢚ ǡLjȭǖȓ͔
ǖ࢚ ȓǝ͕ ȠǡȣǗȰȦȦǷȓȍ ॲDZƲȗ ȊNjȍǯȚȐǡ ȗȚǀȚǞॳ
ǁा LJƲǷ DZƲǡǷঃDZƲǡǷ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡷࡺ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ƲȐȊNjǯঃƲȐȊNjǯ ΑǽǯƲDZॅȐȚƲȍƲश ǬNjǷǡȐঃǬNjǷǡȐ ȐȚƲȍƲ ॲ[ǽȊȍƲǷǽष
DZȗǽष bNjǷǽȍष ƲȐȐॳ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲ ॲȗǡǶǀȍNjष LJƲǷ DZƲǡǷঃDZƲǡǷॳ ȐNjȊNjȍȗǡ
ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁǽǀƲ LJƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ
LJNjǷǘƲǷ ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ȐȚƲȍƲ LJƲȍǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶƲǷƲǬNjǶNjǷ ȐȚƲȍƲा ,ƲDZ ǡǷǡ
ǶNjǷǁƲǯȚȊ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅLJǡȊNjDZƲǬƲȍǡा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ ϯDZNj ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲॅΑǽǯƲDZा

ࡲࡸࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȐNjȊ ǀNjȍǷΘƲǷΘǡ ΘƲǷǘ LJǡDZƲǯȚǯƲǷा
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲ
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲ
DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǬNjǷǡȐঃǬNjǷǡȐ
ȐȚƲȍƲ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΑǽǯƲDZ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ
ǁƲȍƲ ǀNjȍǷΘƲǷΘǡ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ
ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ
ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǶƲǷƲǬNjǶNjǷ ΑǽǯƲDZा
bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǷΘƲǷΘǡ ΘƲǷǘ ƲLJƲ
LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯǷΘƲा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ
ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ
ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ǀNjȍǷΘƲǷΘǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡸࡲ


LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ
ǀNjȍǶȚȐǡǯ ǶNjȍNjǯƲ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ǶNjǷǘǘȚǷƲǯƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΑǽǯƲDZ ȗNjȍȐNjǀȚȗा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ
ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǀNjȍDZƲǷǘȐȚǷǘा LJƲȊȚǷ
ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ %ȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ
ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡵाࡵ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ࡲࡸࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡵाࡶ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷǘNjȍȗǡƲǷ <ǽǷȐNjȊ
BƲǷƲǬNjǶNjǷ eǶȚǶ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjȍǀƲǘƲǡ $ȚǷǘȐǡ
BƲǷƲǬNjǶNjǷ ȐNjǁƲȍƲ ȚǶȚǶ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷǘNjȍȗǡƲǷ
BƲǷƲǬNjǶNjǷ LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ
ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ
BƲǶȊȚ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ȊNjǷǘƲDZƲǶƲǷ BƲǷƲǬNjǶNjǷ
LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ
LJNjǷǘƲǷ UNjȍȗȚǷǬȚǯƲǷ
BȚȐǡǯ ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ %ȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡸࡴ


ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡵाࡷ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा NjȍǶƲǁƲǶঃǶƲǁƲǶ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡳा NjȍǶƲǁƲǶঃǶƲǁƲǶ ǀNjǷȗȚǯ ȊNjǷǘƲȗȚȍƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΑǽǯƲDZा
ࡴा UNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ ΑǽǯƲDZ ǶȚȐǡǯ LJNjǷǘƲǷ ǀǡLJƲǷǘঃǀǡLJƲǷǘ ȐNjǷǡ ΘƲǷǘ DZƲǡǷ
ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ LJƲǷ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा

ࡲࡸࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q ǝLjȍ q/

BƲǷƲǬNjǶNjǷ /ǷȐȗȍȚǶNjǷ
ॲ/ȍȦȭȣȰȌǡȍȭ BLjȍLjǮǡȌǡȍȭॳ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjǯƲǶ ȊNjǷǘƲDZƲǶƲǷ LJƲȍǡ ǀNjȍƲǘƲǶ ȊȍƲǯȗǡǯ ǀNjȍǶȚȐǡǯ
ȚǷȗȚǯ ǶNjǷȚǶǀȚǞǯƲǷ ǯNjǁǡǷȗƲƲǷ ƲǯƲǷ ǶȚȐǡǯ ǀƲǘǡ LJǡȍǡ ȐNjǷLJǡȍǡष ǽȍƲǷǘ DZƲǡǷष
LJƲǷ ǶƲȐΘƲȍƲǯƲȗा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀNjȍƲǘƲǶ ǶNjLJǡƲ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯǽǷȗNjǯȐ LJƲǷ ǯNjǀȚȗȚǞƲǷ ǶƲȐΘƲȍƲǯƲȗ ΘƲǷǘ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ
ȊNjǷǘǘȚǷƲƲǷ ȗNjǯǷǽDZǽǘǡा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯƲȍΘƲ LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ǡǷȐȗȍȚǶNjǷा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ ȊNjǶǀȚƲȗƲǷ LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǯƲȍΘƲ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ǯNjǀǡƲȐƲƲǷ ǀNjȍǶȚȐǡǯ LJƲǷ LJǡȐǡȊDZǡǷ ǯȍNjƲȗǡǗ
LJƲDZƲǶ ȊNjǷǘƲȗȚȍƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǽȊȗǡǶƲDZ LJƲǷ ǀNjȍȗƲǷǘǘȚǷǘ
ǬƲΒƲǀ ॲȊNjǶǡDZǡǞƲǷ DZƲǘȚष ȗƲȗƲ ǯNjDZǽDZƲ ȊƲǷǘǘȚǷǘष ǶƲǷƲǬNjǶNjǷ ΒƲǯȗȚॳा
BLjȭǡȣǷ Uȓȅȓȅ
%ȚȍȚ LJƲȊƲȗ ǶNjǶȊNjȍǯNjǷƲDZǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ȊNjǷǘNjDZǽǶȊǽǯƲǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯ LJƲDZƲǶ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯॅ ȍNjȐǡȗƲDZा UNjǷNjǶȊƲȗƲǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ ƲDZƲȗ ǶȚȐǡǯ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǷΘNjDZƲȍƲȐǯƲǷ ǷƲLJƲ
LJƲǷ ǶNjǶǀNjǷȗȚǯ ǞƲȍǶǽǷǡ ΘƲǷǘ ǡǷLJƲǞा UNjǷǘNjDZǽǶȊǽǯƲǷ ǡǷȐȗȍȚǶNjǷ LJƲǷ ΑǽǯƲDZ
LJƲȊƲȗ LJǡDZǡǞƲȗ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡵाࡸ ƲǗȗƲȍ UNjǷǘNjDZǽǶȊǽǯƲǷ [ȚǶǀNjȍ ȚǷΘǡঃBȚȐǡǯ

Ȱȍ͕Ƿ࣡BȰȦǷȅ [ȰLjȣLj
ȇLjȭ BȰȦǷȅ
[ǽȊȍƲǷǽ DZȗǽ bNjǷǽȍ ƲȐȐ
HȣȅǡȦȭȣLj
ȇLjȭ BȰȦǷȅ %ǡȦǡȅ ǡǽDZƲ ǡǽDZƲ DZȗǽ NjDZDZǽ ǽǷȗȍƲ ƲȐȐ
[NjȍȚDZǡǷǘ ঃ
ȇLjȭ BȰȦǷȅ bǷȰȠ <Lj͕Ȱ HǀǽNj DZƲȍǡǷNjȗ ƲȐȐǽǽǷ
$DZȚȗNj

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡸࡶ


Ȱȍ͕Ƿ࣡BȰȦǷȅ [ȰLjȣLj
ȇLjȭ BȰȦǷȅ bǷȰȠ
bNjȍǽǶȊNjȗ ,ǽȍǷ bȍǽǶǀǽǷNj bȚǀƲ
=ȓǮLjȌ
[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲशࡴࡱࡲ

UNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍDZȚ ȚǷȗȚǯ ǶNjǷǘNjȗƲǞȚǡ ǬƲȍƲǯ ȗNjȍȗǡǷǘǘǡ LJƲǷ ȗNjȍNjǷLJƲǞ ǷƲLJƲ
ΘƲǷǘ LJƲȊƲȗ LJǡǶƲǡǷǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा NjǷǘƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ƲǯƲǷ
ΒƲȍǷƲ ȐȚƲȍƲ LJƲǷ ǯƲȊƲȐǡȗƲȐ ǀȚǷΘǡ ǷƲLJƲ ȗNjȍȐNjǀȚȗष ǶƲǯƲ ǶƲǷƲǬNjȍ ȊNjȍȗȚǷǬȚǯƲǷ
LJƲȊƲȗ ǶNjǷǘǽȍǘƲǷǡȐǡȍ ȐȚƲȗȚ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞ LJƲǷ ǶNjǷƲȍǡǯा
NjǷǘƲǷ ǯNjȍƲǘƲǶƲǷ ǬƲȍƲǯ ǷƲLJƲ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ ॲȗNjǀƲDZঃȗǡȊǡȐ LJƲǷ ǘNjDZƲȊঃȗNjȍƲǷǘॳष
ǶƲǯƲ ǯNjǡǷLJƲǞƲǷ ǞƲȍǶǽǷǡ LJƲȊƲȗ ȗNjȍǁǡȊȗƲ ȐNjǁƲȍƲ ȗNjȍȐȗȍȚǯȗȚȍा NjǷǘƲǷ ƲLJƲǷΘƲ
ǀNjȍƲǘƲǶ ǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯॅȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ǶƲǯƲ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍȚȗƲǶƲ ǡǷȐȗȍȚǶNjǷष ȊNjȍDZȚ ǶNjǷNjǷȗȚǯƲǷ ȐȚȐȚǷƲǷ DZNjȗƲǯ
ȗNjǶȊƲȗ LJȚLJȚǯ ȊƲȍƲ ȊNjǶƲǡǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ǀNjȍLJƲȐƲȍǯƲǷ ǡǷȐȗȍȚǶNjǷ ǶȚȐǡǯ
ΘƲǷǘ LJǡǶƲǡǷǯƲǷा ǽǷȗǽǞ LJƲȍǡ ȊǽȐǡȐǡ ȗNjǶȊƲȗ LJȚLJȚǯ ȊNjǶȚȐǡǯ LJƲȊƲȗ LJǡDZǡǞƲȗ
ȊƲLJƲ ǘƲǶǀƲȍ ǀNjȍǡǯȚȗश

%ƲǶǀƲȍ ࡵाࡵा UǽȐǡȐǡ UNjǷNjǶȊƲȗƲǷ UNjǶƲǡǷ BȚȐǡǯ HȍǯNjȐ


[ȚǶǀNjȍश =NjNj ǞǡǷǘ ǞǡǷǘष ࡲࡺࡺࡷश ࡸࡹ

ࡲࡸࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UNjǷǬNjDZƲȐƲǷ LJƲȍǡ ǘƲǶǀƲȍ ȊǽȐǡȐǡ LJȚLJȚǯ LJƲǷ ȊNjǷǘNjDZǽǶȊǽǯƲǷ ȊNjǶƲǡǷ ǶȚȐǡǯ
ǽȍǯNjȐ ȗNjȍDZǡǞƲȗ ȊƲLJƲ ȗƲǀNjDZ LJǡ ǀƲΒƲǞ ǡǷǡश
bƲǀNjDZ ࡵाࡹ XȚǶȊȚǷ DZƲȗ BȚȐǡǯ NjȍLJƲȐƲȍǯƲǷ UNjǷǘNjDZǽǶȊǽǯƲǷ UǽȐǡȐǡ ȚLJȚǯ ƲDZƲǶ %ȍȚȊ
HȍǯNjȐȗȍƲ
XȚǶȊȚǷ DZƲȗ BȚȐǡǯ %NjȐNjǯ XȚǶȊȚǷ DZƲȗ BȚȐǡǯ bǡȚȊ <ƲΘȚ
$ ঁ UǡǁǁǽDZǽ
% ঁ $DZȚȗNj
 ঁ ǡǽDZƲ ࡲ
, ঁ HǀǽNj
 ঁ ǡǽDZƲ ࡳ
/ ঁ ,ǽȍǷ /ǷǘǘȍǡȐ
 ঁ ǡǽDZƲ DZȗǽ
: ঁ <DZƲȍǡǷNjȗ
 ঁ NjDZDZǽ
< ঁ [ƲΗǽȊǞǽǷNj
 ঁ ǽǷȗȍƲ ƲȐȐ
= ঁ ƲȐȐǽǽǷ
B ঁ ǽȚǀDZNj ƲȐȐǽǽǷ
XȚǶȊȚǷ DZƲȗ BȚȐǡǯ =ǽǘƲǶ XȚǶȊȚǷ DZƲȗ BȚȐǡǯ UNjȍǯȚȐǡ
C ঁ ,ǽȍǷ
[ ঁ ,ƲȍȊ
H ঁ bȍȚǶȊNjȗ
X ঁ DZƲȗ BȚȐǡǯ UNjȍǯȚȐǡ =ƲǡǷǷΘƲ
U ঁ bȍǽǶǀǽǷNj
b ঃ bǡǶȊƲǷǡ
W ঁ bȚǀƲ

[ȚǶǀNjȍश =NjNj ǞǡǷ ǞǡǷǘष ࡲࡺࡺࡷश ࡸࡹ


$ǽȗǽ ǯNjǘǡƲȗƲǷ ȐNjǀNjǷƲȍǷΘƲ LJƲȍǡ ǯNjDZǽǶȊǽǯ ǽȍǁǞNjȐȗȍƲ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

%ƲǶǀƲȍ ࡵाࡶ UǞǡDZƲLJNjDZȊǞǡƲ HȣǗǴǡȦȭȣLj [ǡLjȭǷȍǮ UȇLjȍ࢚


[ȚǶǀNjȍश sǡǷȐDZǽΒष ࡳࡱࡱࡲश ࡴࡲࡲ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡸࡸ


ƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶƲǷƲǬNjǶNjǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǶȊNjDZƲǬƲȍǡ ǬNjǷǡȐঃǬNjǷǡȐ ȊNjǷΘƲǬǡƲǷ LJƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ǯƲȍΘƲ ȐNjǷǡ
ΘƲǷǘ ǀNjȍǞȚǀȚǷǘƲǷ LJNjǷǘƲǷ ȊNjȍǶƲǡǷƲǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯा NjǷȗȚǯঃǀNjǷȗȚǯ
ȊNjȍȗȚǷǬȚǯƲǷ ƲDZƲȗ ǶȚȐǡǯ LJƲȊƲȗ ǀNjȍȚȊƲ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ
ǶƲȚȊȚǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ǯNjDZǽǶȊǽǯ ॲLJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ǘȍȚȊ ǯNjǁǡDZष
LJƲǷ ǘȍȚȊ ǀNjȐƲȍॳा ǽǷȗǽǞ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ȊNjȍǶƲǡǷƲǷ ǶȚȐǡǯ LJƲDZƲǶ ǀNjǷȗȚǯ
ǯNjDZǽǶȊǽǯ ƲLJƲDZƲǞ ǶȚȐǡǯ ǽȍǯNjȐ ॲȓȣǗǴǡȦȭȣLjॳष ǶȚȐǡǯ ǯƲǶƲȍ ॲǗǴLjȌǖǡȣ ȌȰȦǷǗॳष
ǁǽǶǀǽ ǀƲǷLJष ȊǡƲǷǽ ȗȍǡǽष ȊǡƲǷǽ ǁǽǷǁNjȍȗǽष LJƲǷ DZƲǡǷঃDZƲǡǷा BƲǷƲǬNjǶNjǷ ȊNjǷΘƲǬǡƲǷ
ƲDZƲȗ ǶȚȐǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǶȊNjȍȗǡǶǀƲǷǘǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǶǡǷƲȗ ȊNjǷLJNjǷǘƲȍा
%ǡȍȣǡ ǶȚȐǡǯ LJƲȊƲȗ ǀNjȍȚȊƲश
व BȚȐǡǯ <DZƲȐǡǯ
व BȚȐǡǯ <ǽǷȗNjǶȊǽȍNjȍ
व BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ LJƲǷ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा
<DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ ǶNjǷǬƲLJǡश
व ~ƲǶƲǷ UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇ व <DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳ
ȠǡȣǷȓǝॳ व XǽǶƲǷȗǡǯ ॲXȓȌLjȍȭǷǗॳ
व ~ƲǶƲǷ XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳ व ǀƲLJ ǯNjঃࡳࡱ ॲBȓǝǡȣȍॳ
व Ʋȍǽǯ ॲLjȣȓȢȰǡॳ व ǀƲLJ ǯNjঃࡳࡲा
<DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ ǶNjǷǬƲLJǡ
%ǡȍȣǡ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍ ǁǽǷȗǽǞǷΘƲ ȐNjȊNjȍȗǡश
व BȚȐǡǯ UHU व BȚȐǡǯ Xઝ
व BȚȐǡǯ Xǽǁǯ व BȚȐǡǯ ,ǡȊ ǞǽȊ
व BȚȐǡǯ :ƲΝΝ व LJƲǷ DZƲǡǷঃDZƲǡǷा
व BȚȐǡǯ DZȚNjȐ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
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ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश

ࡲࡸࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjǷȗƲǷǘ ƲDZƲǶा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǀा ǶǀNjȍॅǘƲDZǽǷ Ʋǡȍ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǁा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
LJा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ ॲLJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡष ࡶঃࡹ ǡǷǁǡष LJƲǷ LJǡ ƲȗƲȐ
LJǡƲǶNjȗNjȍ ࡺ ǡǷǁǡॳ
Njा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡸा DZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष ǁǽǷȗǽǞǷΘƲश
Ʋा BƲǁƲǶঃǶƲǁƲǶ Ȑȗǡǁǯ LJȍȚǶश ǯƲΘȚष ǷǡDZǽǷष ǀȍȚȐǞष ǶƲDZDZNjȗष ǀȚǷLJDZNjष ƲDZȗNjȍǷƲȗǡǗ
Ȑȗǡǁǯ LJȍȚǶ ॲȦ͕ȍȭǴǡȭǷǗॳ
ǀा DZƲȗ ȊNjǶȚǯȚDZ ȊƲȍƲDZǽǷ LJƲȍǡ ǀƲǞƲǷ ǯƲȍNjȗ ॲȍƲǯNjȗ ȗNjǷǡȐ ǶNjǬƲॳ
ǁा DZƲȗ ȊNjǶȚǯȚDZ LJƲȍǡ ǀNjȐǡॅ DZǽǘƲǶ
LJा [NjǷLJǽǯ LJƲǷ ǘƲȍȊȚ
ǡ࢚ UǷǗȅ ǘǡȗƲȍ
Ǘा ǽΒ ǀǡǽDZƲ ॲǀNjȍǶƲǁƲǶঃǶƲǁƲǶ ȚǯȚȍƲǷॳ
ǘा LJƲǷ DZƲǡǷঃDZƲǡǷ
ࡹा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ
ǁा [ǽȊȍƲǷǽ ȍNjǁǽȍLJNjȍष ƲDZȗǽ ȍNjǁǽȍLJNjȍष ȗNjǷǽȍ ȍNjǁǽȍLJNjȍष LJƲǷ ǀƲȐȐ ȍNjǁǽȍLJNjȍा
LJा LJƲǷ DZƲǡǷঃDZƲǡǷ
LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

[LjȠǡ e͕LjȰ ࣡ e͕LjȰ BȓȣǷȦ ࣈHψǗǷLjȇ qǷǝǡȓࣉ Lj͕Ljȅ <ǡȍ͕LjǴࢡHȣLjȍǮ eȇȰ [ȓȍǮ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡹ$=/ࡵǀȗǘΑ/

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡸࡺ


[ȰȌLjȭǡȣLj eȭLjȣLj ࣡ $ǡȦȭǷ͎Ljȇ CLjȦǷȓȍLjȇ BȰȦǷȅ bȣLjǝǷȦǷ ȍLjȅ࣡ȍLjȅ ߜߚߛߞ ǖ͕
ߜ BB H
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǡeNjDZȌǀࡱ<ǘǬW
BLjȍȰȅ LjǝLjȇǷ ࣡ ȍǮȅȇȰȍǮ ǷȍǝǴȓ͎ǡȍ Ƿȍ ȓȍǗǡȣȭ ߜߚߛߟ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǯqȌXHxࡲǡXȐȐ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ ǀNjȐNjȍȗƲ ȐǡȐȗNjǶ
ȊNjǷǘNjDZǽǶȊǽǯƲǷǷΘƲ LJƲDZƲǶ ǘȍȚȊ ǶȚȐǡǯ ȗNjȍǯƲǡȗा %ȚȍȚ ǬȚǘƲ ǶNjǶƲȊƲȍǯƲǷ
ȊȍǽȐNjȐ ȊNjǷǘǽȍǘƲǷǡȐƲȐǡƲǷ ǡǷȐȗȍȚǶNjǷ ǀNjȍLJƲȐƲȍǯƲǷ ǬNjǷǡȐ ȍȚǶȊȚǷ ƲDZƲȗ
ǶȚȐǡǯǷΘƲा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ƲǘƲȍ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍ ǞƲȍǶǽǷǡ ȐNjǬNjǷǡȐ ΘƲǷǘ ǡǷLJƲǞष ǁǽǷȗǽǞǷΘƲ ॲǀǡǽDZƲࡲष
ǀǡǽDZƲ ࡳष ǀǡǽDZƲ ƲDZȗǽष LJƲǷ ǁNjDZDZǽॳा %ȚȍȚ LJƲȊƲȗ ǶNjǶȚȗƲȍǯƲǷ ΑǡLJNjǽ ǶNjǷǘNjǷƲǡ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐNjȊNjȍȗǡ ΘƲǷǘ ƲLJƲ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍा
ǀा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁǽǀƲ ǀNjȍǶƲǡǷ ƲDZƲȗঃ
ƲDZƲȗ ǶȚȐǡǯॅȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ LJƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ ȐNjǯȐƲǶƲष
ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ȐȚƲȍƲ ǶȚȐǡǯ LJƲȍǡ ǁǽǷȗǽǞ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ
LJǡǶƲǡǷǯƲǷा
ǁा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚ ȊȚǷ ΑǡLJNjǽ ΘƲǷǘ
ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ȗNjǷȗƲǷǘ ǶƲǷƲǬNjǶNjǷ ǡǷȐȗȍȚǶNjǷा ,ƲDZ
ǡǷǡ ǶNjǷǁƲǯȚȊ ȗNjǯǷǡǯ ǀNjȍǷΘƲǷΘǡ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍॅ LJǡȊNjDZƲǬƲȍǡा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ NjǷƲǶ ƲȗƲȚ
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ
ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा

ࡲࡹࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LJा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚ ȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Njा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǘा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍा
Ǟा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ
ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲॅ ΑǽǯƲDZा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǶƲǷƲǬNjǶNjǷ ǡǷȐȗȍȚǶNjǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷा
Ǭा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲ
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ΘƲǷǘ
ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
DZा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ ǬȚǘƲ ƲǯƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǬNjǷǡȐঃǬNjǷǡȐ
ƲDZƲȗ ǶȚȐǡǯ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ
ȚǷȐȚȍ NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡹࡲ


ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ
ǁƲȍƲ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ
ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ
ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ȗNjȍȐNjǀȚȗा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶƲǡǷ ǡǷȐȗȍȚǶNjǷ ΘƲǷǘ
ƲLJƲ LJǡ ȐNjǯǡȗƲȍ ǶNjȍNjǯƲष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯǷΘƲा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ
ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ
ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ǀNjȍǶƲǡǷ ǡǷȐȗȍȚǶNjǷ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ
ȊNjǷǘƲDZƲǶƲǷ ǀNjȍǶȚȐǡǯ ǶNjȍNjǯƲ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ
ǶNjǷǘǘȚǷƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ȗNjȍȐNjǀȚȗा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ
ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǀNjȍDZƲǷǘȐȚǷǘा LJƲȊȚǷ ȊNjLJǽǶƲǷ
ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

ࡲࡹࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡵाࡺ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ

BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ


ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡵाࡲࡱ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡹࡴ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ǀƲȗƲȐƲǷ ǷƲLJƲ ȗǡǷǘǘǡॅ
ȍNjǷLJƲǞ LJƲȍǡ ȐNjȗǡƲȊ
ǯƲȗNjǘǽȍǡ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ
LJǡȊNjDZƲǬƲȍǡ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯǽǷȐNjȊঃǯǽǷȐNjȊ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ǡǷȐȗȍȚǶNjǷ

BNjǶƲǞƲǶǡ DZƲǷǘǯƲǞঃ
DZƲǷǘǯƲǞ LJƲǷ ȗNjǯǷǡǯ
ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ LJƲǷ


ȗƲǷǘǘȚǷǘ ǬƲΒƲǀ ȗNjǷȗƲǷǘ
ǶƲǷƲǬNjǶNjǷ ǡǷȐȗȍȚǶNjǷ
LJNjǷǘƲǷ ƲǷȗȚȐǡƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

ࡲࡹࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bƲǀNjDZ ࡵाࡲࡲ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा NjȍǶƲǁƲǶঃǶƲǁƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡳा NjȍǶƲǁƲǶঃǶƲǁƲǶ ǀNjǷȗȚǯ ȊNjǷǘƲȗȚȍƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ǡǷȐȗȍȚǶNjǷ
ࡴा UNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ LJNjǷǘƲǷ ǀǡLJƲǷǘঃǀǡLJƲǷǘ ȐNjǷǡ ΘƲǷǘ
DZƲǡǷ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ LJƲǷ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡹࡶ


<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q// ǝLjȍ q///

UNjǷȚDZǡȐƲǷ UȍǽȊǽȐƲDZ UNjȍȗȚǷǬȚǯƲǷ


ॲUǡȣǭȓȣȌLjȍǗǡ UȣȓȠȓȦLjȇ sȣǷȭǷȍǮॳ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjǯƲǶ ȊNjǷǘƲDZƲǶƲǷ LJƲȍǡ ǀNjȍƲǘƲǶ ȊȍƲǯȗǡǯ ǀNjȍǶȚȐǡǯ
ȚǷȗȚǯ ǶNjǷȚǶǀȚǞǯƲǷ ǯNjǁǡǷȗƲƲǷ ƲǯƲǷ ǶȚȐǡǯ ǀƲǘǡ LJǡȍǡ ȐNjǷLJǡȍǡष ǽȍƲǷǘ DZƲǡǷष
LJƲǷ ǶƲȐΘƲȍƲǯƲȗा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǀNjȍƲǘƲǶ ǶNjLJǡƲ LJƲǷ ǀNjǷȗȚǯ ǶȚȐǡǯ
LJƲDZƲǶ ǶNjǷΘȚȐȚǷ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷƲȍǡǯ LJNjǷǘƲǷ
ǶNjǶȊNjȍǞƲȗǡǯƲǷ ȊNjǶǡDZǡǞƲǷ DZƲǘȚष ȗƲȗƲ ǯNjDZǽDZƲ ȊƲǷǘǘȚǷǘष LJƲǷ ȭǷȌǡ
ȌLjȍLjǮǡȌǡȍȭ࢚
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȐǡDZǯƲǷ ȊȍǽȊǽȐƲDZ ȐNjLJNjȍǞƲǷƲ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷȚDZǡȐǯƲǷ ȊȍǽȊǽȐƲDZ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ȐNjǀȚƲǞ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ȐNjLJNjȍǞƲǷƲ ΘƲǷǘ ǶNjǶȚƲȗ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ΑǽǯƲDZ LJƲǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷा

BLjȭǡȣǷ Uȓȅȓȅ
[NjȗNjDZƲǞ ǡLJNj ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJǡȍƲǷǁƲǷǘ LJƲǷ LJǡȐNjȗȚǬȚǡ ǽDZNjǞ ȐNjDZȚȍȚǞ
ƲǷǘǘǽȗƲष ȗNjȍLJƲȊƲȗ DZƲǷǘǯƲǞ ȊNjǷȗǡǷǘ ȐNjDZƲǷǬȚȗǷΘƲ ΘƲǷǘ ȊNjȍDZȚ LJǡǯNjȗƲǞȚǡ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ǘȚǷƲ ǶNjǷȐȚǯȐNjȐǯƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷा ,ƲDZ ȊNjǷȗǡǷǘ LJƲDZƲǶ
ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ƲLJƲDZƲǞ LJȚǯȚǷǘƲǷ LJƲȍǡ ǀNjȍǀƲǘƲǡ ȊǡǞƲǯा
ȚǯȚǷǘƲǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ LJƲȊƲȗ ǀNjȍȚȊƲ LJȚǯȚǷǘƲǷ ȐȚǶǀNjȍ LJƲΘƲ ǶƲǷȚȐǡƲ
ǶƲȚȊȚǷ LJȚǯȚǷǘƲǷ ǶƲȗNjȍǡा NjǷȗȚǯ LJȚǯȚǷǘƲǷ ȐȚǶǀNjȍ LJƲΘƲ ǶƲǷȚȐǡƲ ॲ[Bॳ
LJƲȊƲȗ ǀNjȍȚȊƲ ǯNjǡǯȚȗȐNjȍȗƲƲǷ LJƲDZƲǶ ǯNjȊƲǷǡȗǡƲƲǷ ƲȗƲȚ ȊNjǷƲǶȊǡDZ ॲȠǡȣǭȓȣȌǡȣॳ
LJƲȍǡ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा [NjLJƲǷǘǯƲǷ LJȚǯȚǷǘƲǷ ΘƲǷǘ ǀNjȍȐǡǗƲȗ ǶƲȗNjȍǡ
LJƲȊƲȗ ǀNjȍȚȊƲ LJƲǷƲ ॲǭȰȍǝǷȍǮॳष ǡΝǡǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷष DZǽǯƲȐǡ ॲ͎ǡȍȰǡॳष LJƲǷ
ǀNjȍǀƲǘƲǡ ȊȍǽȊNjȍȗǡ ȊNjǷLJȚǯȚǷǘ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȐNjǀȚȗा
[NjǘƲDZƲ ǀNjǷȗȚǯ LJȚǯȚǷǘƲǷ ΘƲǷǘ LJǡǞƲȍƲȊǯƲǷ ȐNjȍǡǷǘ ǯƲDZǡ LJǡǀNjȍǡǯƲǷ LJNjǷǘƲǷ
ȐΘƲȍƲȗ ȗNjȍȗNjǷȗȚष ȐNjȊNjȍȗǡ ƲLJƲǷΘƲ LJǽǯȚǶNjǷ ȍNjȐǶǡ ΘƲǷǘ ǶNjǷǬNjDZƲȐǯƲǷ LJNjȗǡDZ

ࡲࡹࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ȊNjȍȗȚǷǬȚǯƲǷा ,ƲDZ ǡǷǡ ǀNjȍȗȚǬȚƲǷ ƲǘƲȍ LJȚǯȚǷǘƲǷ ƲȗƲȚ ǡΝǡǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ǬNjDZƲȐ
ǯNjȊƲLJƲ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȗNjȍǽȍǘƲǷǡȐƲȐǡ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ǶNjǶǡDZǡǯǡ
ǡLJNj ΘƲǷǘ ǶNjǷƲȍǡǯ ȐNjȍȗƲ ǶNjǶǀNjȍǡǯƲǷ ǶƲǷǗƲƲȗ ǀƲǘǡ ǀNjȍǀƲǘƲǡ ȊǡǞƲǯा ǽǯȚǶNjǷ
ȍNjȐǶǡ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ǯNjȊƲLJƲ ȊǡǞƲǯ ȊNjǶǀNjȍǡ LJȚǯȚǷǘƲǷ ǀNjȍȚȊƲ UȍǽȊǽȐƲDZ
<NjǘǡƲȗƲǷ ǀƲǡǯ ȐNjǁƲȍƲ ϯȐǡǯ ȗNjȍǁNjȗƲǯ ǶƲȚȊȚǷ LJƲDZƲǶ ǀNjǷȗȚǯ ǀNjȍǯƲȐ NjDZNjǯȗȍǽǷǡǯ
ΘƲǷǘ LJǡǯǡȍǡǶǯƲǷ ǶNjDZƲDZȚǡ ǶNjLJǡƲ ǯǽǶȚǷǡǯƲȐǡा
UȍǽȊǽȐƲDZ <NjǘǡƲȗƲǷ ȐNjǷLJǡȍǡ ǶNjǶǡDZǡǯǡ ƲȍȗǡƲǷ ǀNjȍȚȊƲ LJǽǯȚǶNjǷ ȍNjȐǶǡ ΘƲǷǘ
ǀNjȍǡȐǡ ȍƲǷǁƲǷǘƲǷ ǯNjǘǡƲȗƲǷ ȐNjǁƲȍƲ ȐǡȐȗNjǶƲȗǡȐ ΘƲǷǘ ǶNjǶȚƲȗ ȗȚǬȚƲǷ ȗNjȍȗNjǷȗȚ
LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷǷΘƲा UȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷ LJƲȊƲȗ LJǡǀNjLJƲǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ ȗȚǬȚƲǷ
ȊNjǷȚDZǡȐƲǷǷΘƲ ƲǷȗƲȍƲ DZƲǡǷश
ߛ࢚ UȣȓȠȓȦLjȇ /͚Ƿȍ <ǡǮǷLjȭLjȍष ǶNjȍȚȊƲǯƲǷ ȊȍǽȊǽȐƲDZ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȗȚǬȚƲǷ
ȐNjǀƲǘƲǡ LJǽǯȚǶNjǷ ΘƲǷǘ LJǡƲǬȚǯƲǷ ǯNjȊƲLJƲ ǡǷȐȗƲǷȐǡ ƲȗƲȚ ȊǡǞƲǯ ΘƲǷǘ
ǶNjǶǀNjȍǡǯƲǷ ǯNjΒNjǷƲǷǘƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ǯNjǘǡƲȗƲǷा ǽǷȗǽǞǷΘƲ ƲLJƲDZƲǞ
ȊNjǶǀȚƲȗƲǷ UȍǽȊǽȐƲDZ UNjǷȗƲȐ [NjǷǡ ΘƲǷǘ LJǡƲǬȚǯƲǷ ǯNjȊƲLJƲ ǡǷȐȗƲǷȐǡ [NjǯǽDZƲǞ
ȐNjǀƲǘƲǡ ȊNjȍǶǽǞǽǷƲǷ ǡΝǡǷ ǶNjǷΘNjDZNjǷǘǘƲȍƲǯƲǷ UNjǷȗƲȐ [NjǷǡ ΘƲǷǘ ǶNjDZǡǀƲȗǯƲǷ
ǀƲǷΘƲǯ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ƲȚLJǡȗǽȍǡȚǶ ƲȗƲȚ ƲȚDZƲ ȐNjǯǽDZƲǞ
LJƲȍǡ ǞƲȍǡ ȊNjȍȐǡƲȊƲǷ ȐƲǶȊƲǡ ǞƲȍǡ ȊNjDZƲǯȐƲǷƲƲǷा
ߜ࢚ UȣȓȠȓȦLjȇ [ȠȓȍȦǴȓȣȦǴǷȠष ǶNjȍȚȊƲǯƲǷ ǬNjǷǡȐ ȊȍǽȊǽȐƲDZ ΘƲǷǘ ȐƲǶƲ LJNjǷǘƲǷ
ȊȍǽȊǽȐƲDZ ǡΝǡǷ ǯNjǘǡƲȗƲǷष ǷƲǶȚǷ ΘƲǷǘ ǶNjǶǀNjLJƲǯƲǷ ƲLJƲDZƲǞ ȊƲLJƲ ǀƲǘǡƲǷ
ȊNjǷƲΒƲȍƲǷष LJǡ ǶƲǷƲ ǞƲDZƲǶƲǷ ȊNjǷƲΒƲȍƲǷ ǶNjǶȚƲȗ ȗƲΒƲȍƲǷ ǯNjȍǬƲȐƲǶƲ
ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ȊƲǷǡȗǡƲ ǯNjǘǡƲȗƲǷ ǯNjȊƲLJƲ ȊǡǞƲǯ ȐȊǽǷȐǽȍा UNjǷƲΒƲȍƲǷ ǀǡȐƲ
ǀNjȍȚȊƲ ȊȍǽǶǽȐǡ ȐǡDZƲǷǘ ॲǗȣȓȦȦ ȠȣȓȌȓȭǷȓȍॳ ΘƲǷǘ ǶNjǶǀNjȍǡǯƲǷ ǯNjȚǷȗȚǷǘƲǷ
ȐNjȗǡǶȊƲDZ ǯNjȊƲLJƲ ǯNjLJȚƲ ǀNjDZƲǞ ȊǡǞƲǯा
[NjDZƲǡǷ ǶNjǶƲǞƲǶǡ ǬNjǷǡȐ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ǞƲȍȚȐ
ǶNjǶƲǞƲǶǡ ǯƲǡLJƲǞ ȊNjǷȚDZǡȐƲǷ ΘƲǷǘ ȊNjȍDZȚ LJǡȊNjȍǞƲȗǡǯƲǷ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ
ȊȍǽȊǽȐƲDZ ΘƲǷǘ ǀƲǡǯष ƲǷȗƲȍƲ DZƲǡǷश
ࡲा BNjǷǘǘȚǷƲǯƲǷ ǀƲǞƲȐƲ ΘƲǷǘ ǀƲǯȚ LJƲǷ DZȚǘƲȐा
ࡳा UNjǷȚDZǡȐƲǷǷΘƲ ȗNjȍȐǡȐȗNjǶƲȗǡȐष ǶNjǷƲȍǡǯ LJƲǷ ȍNjƲDZǡȐȗǡȐा
ࡴा BNjǷǘǘȚǷƲǯƲǷ ǯƲȗƲঃǯƲȗƲ ΘƲǷǘ LJNjǷǽȗƲȗǡǗ ƲȗƲȚ ȊNjǶǀƲǞƲȐƲǷ ǽǀǬNjǯȗǡǗा

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡹࡸ


<ǡȣLjȍǮȅLj UǡȍȰȇǷȦLjȍ UȣȓȠȓȦLjȇ UǡȣȭȰȍȂȰȅLjȍ

ߛ࢚ ,LjȇLjȌLjȍ :ȰǝȰȇ
NjȍǡȐǡ ǬȚLJȚDZ ǯNjǘǡƲȗƲǷॅƲǁƲȍƲ ȊNjȍȗȚǷǬȚǯƲǷष DZǽǘǽ ƲǁƲȍƲष ǡLJNjǷȗǡȗƲȐ ǽȍǘƲǷǡȐƲȐǡ
ॲDZǽǘǽॅǷƲǶƲॅƲDZƲǶƲȗॳष LJƲǷ ȗƲǞȚǷ ƲȗƲȚ ȗƲǷǘǘƲDZ ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ

ߜ࢚ <LjȭLj UǡȍǮLjȍȭLjȣ
NjȍǡȐǡ ǯƲDZǡǶƲȗ ȊNjǷǘƲǷȗƲȍ ΘƲǷǘ ǶNjǶȚƲȗ ǘƲȍǡȐ ǀNjȐƲȍ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ǯNjǘǡƲȗƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ LJƲǷ ȗȚǬȚƲǷ ȊNjǷǘƲǬȚƲǷ ȊȍǽȊǽȐƲDZ

ߝ࢚ LjǭȭLjȣ /ȦǷ
Ʋǀ ࡲश UNjǷLJƲǞȚDZȚƲǷ
ࡲाࡲ =ƲȗƲȍ NjDZƲǯƲǷǘ
NjȍǡȐǡ ȊNjǷǬƲǀƲȍƲǷ ǡLJNj ƲΒƲDZ ƲȗƲȚ ǡȐȚ ΘƲǷǘ ǶNjǷǬƲLJǡ LJǽȍǽǷǘƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ
ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȍȐNjǀȚȗा

Ʋǀ //श NjȗƲǡDZ <NjǘǡƲȗƲǷ


ࡳाࡲा bȚǬȚƲǷ <NjǘǡƲȗƲǷ
NjȍǡȐǡȗNjǷȗƲǷǘȗȚǬȚƲǷΘƲǷǘǡǷǘǡǷLJǡǁƲȊƲǡǶNjDZƲDZȚǡȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷȊNjȍȗȚǷǬȚǯƲǷ
ࡳाࡳा CƲǶƲ <NjǘǡƲȗƲǷ
NjȍǡȐǡ ǷƲǶƲ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ ǶNjȍNjȊȍNjȐNjǷȗƲȐǡǯƲǷ ǯNjȐNjDZȚȍȚǞƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ
ࡳाࡴा bNjǶƲ <NjǘǡƲȗƲǷ
NjȍǡȐǡ ȗNjǶƲ ǀNjȐƲȍ ΘƲǷǘ LJǡȗNjǷȗȚǯƲǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ
ࡳाࡵा %ƲǶǀƲȍƲǷ <NjǘǡƲȗƲǷ
NjȍǡȐǡ ǘƲǶǀƲȍƲǷ ȐNjǁƲȍƲ ȚǶȚǶ ȗNjǷȗƲǷǘ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ǶNjǷǁƲǯȚȊ ΒƲǯȗȚष
ȗNjǶȊƲȗ LJƲǷ ƲȗƲȚ ǀǡǷȗƲǷǘ ȗƲǶȚ ǯǞȚȐȚȐ ΘƲǷǘ ȗƲǶȊǡDZ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ
ࡳाࡶा UNjȐNjȍȗƲ <NjǘǡƲȗƲǷ
NjȍǡȐǡ ȗƲȍǘNjȗ ȊNjȐNjȍȗƲ LJƲǷ ȊNjǷǽǷȗǽǷ ΘƲǷǘ ǞƲLJǡȍ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ǀNjȍȚȊƲ
ǬȚǶDZƲǞ ȊNjǷǽǷȗǽǷ LJƲǷ ǀǡȐƲ LJǡDZNjǷǘǯƲȊǡ LJNjǷǘƲǷ ȍNjǷȗƲǷǘ ȚȐǡƲ ƲȗƲȚ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
LJNjǶǽǘȍƲϯ

ࡲࡹࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡳाࡷा [ȚȐȚǷƲǷ <NjȊƲǷǡȗǡƲƲǷ
NjȍǡȐǡ ȐȚȐȚǷƲǷ ǯNjȊƲǷǡȗǡƲƲǷ ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ ΘƲǷǘ LJǡDZNjǷǘǯƲȊǡ LJNjǷǘƲǷ ǷƲǶƲष
ǀǡǽLJƲȗƲ ȐǡǷǘǯƲȗ ॲǯNjDZƲȐ ƲȗƲȚ ǬȚȍȚȐƲǷॳष LJƲǷ ǬƲǀƲȗƲǷ ƲȗƲȚ ȊNjȍƲǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjȍȗȚǷǬȚǯƲǷा

Ʋǀ ///श NjȗƲǡDZ UNjȍȗȚǷǬȚǯƲǷ


ࡴाࡲा BƲȗNjȍǡ ǁƲȍƲ UNjȍȗȚǷǬȚǯƲǷ
NjȍǡȐǡ ȊNjȍǡǷǁǡƲǷ ǯǽǷȐNjȊ ƲǁƲȍƲ ȐNjȊNjȍȗǡ ǬNjǷǡȐ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ LJǡȗȚDZǡȐ LJƲDZƲǶ
ǷƲȍƲȐǡ ȊƲȍƲǘȍƲǗ LJƲǷ ȊǽǡǷঃȊǽǡǷ ȊNjǷȗǡǷǘ
ࡴाࡳा [ȚȐȚǷƲǷ ǁƲȍƲ UNjȍȗȚǷǬȚǯƲǷ
NjȍǡȐǡ ȐȚȐȚǷƲǷ ƲǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ ǶȚDZƲǡ LJƲȍǡ ǬƲLJΒƲDZ ȊNjȍ ȊǽǡǷ ǯNjǘǡƲȗƲǷ ॲǁǽǷȗǽǞǷΘƲ
ȊNjǶǀȚǯƲƲǷ ǽDZNjǞ Bष ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ȊNjǷǘNjǷƲDZƲǷष ȊNjǷƲǶȊǡDZƲǷ ȊƲLJȚƲǷ
ȐȚƲȍƲ ȐƲȗȚष LJƲǷ DZƲǡǷǷΘƲॳ ǬƲǶ ȊNjDZƲǯȐƲǷƲƲǷष LJƲǷ ȊNjǷƲǷǘǘȚǷǘ ǬƲΒƲǀ ȐNjȗǡƲȊ ȊǽǡǷ
ǯNjǘǡƲȗƲǷ ॲȠǡȣȦȓȍ Ƿȍ ǗǴLjȣǮǡॳ ΘƲǷǘ LJǡȗȚDZǡȐ LJƲDZƲǶ ȗƲǀNjDZ ȗNjȍȊNjȍǡǷǁǡा

Ʋǀ /qश ǷǘǘƲȍƲǷ


ࡵाࡲा UNjǶƲȐȚǯƲǷ
NjȍǡȐǡ ȗƲǀNjDZ ȊNjȍǯǡȍƲƲǷ ȊNjǶƲȐȚǯƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǀNjȍLJƲȐƲȍǯƲǷ
ȐȚǶǀNjȍ ȊNjǶƲȐȚǯƲǷǷΘƲ
ࡵाࡳा UNjǷǘNjDZȚƲȍƲǷ
NjȍǡȐǡ ȗƲǀNjDZ ȊNjȍǯǡȍƲƲǷ ȊNjǷǘNjDZȚƲȍƲǷ ΘƲǷǘ LJǡǞƲȍƲȊǯƲǷ ȗNjȍȊNjȍǡǷǁǡ LJƲǷ ǬNjDZƲȐ

Ʋǀ qश UNjǷƲǷΒƲȍƲǷ[ȊǽǷȐǽȍȐǞǡȊॲǯǞȚȐȚȐ ȚǷȗȚǯ ȊNjǷȚDZǡȐƲǷ UȍǽȊǽȐƲDZ[ȊǽǷȐǽȍȐǞǡȊॳ


NjȍǡȐǡ ȍǡǷǁǡƲǷ LJƲǗȗƲȍ ȊNjǷƲΒƲȍƲǷ ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ǯNjȊƲLJƲ ȊǡǞƲǯ ȐȊǽǷȐǽȍ ȐNjǀƲǘƲǡ
ȗǡǶǀƲDZ ǀƲDZǡǯ ǯNjȚǷȗȚǷǘƲǷ ȐNjȐȚƲǡ ǯNjȗNjǷȗȚƲǷ ȊƲǷǡȗǡƲा

Ʋǀ q/श UNjǷȚȗȚȊ


NjȍǡȐǡ ǯƲDZǡǶƲȗ ȊNjǷȚȗȚȊ ΘƲǷǘ ǶNjǶȚƲȗ ǞƲȍƲȊƲǷ ȊNjǷǘƲǬȚƲǷ ȊȍǽȊǽȐƲDZ LJƲǷ
ȚǁƲȊƲǷ ȗNjȍǡǶƲ ǯƲȐǡǞ ƲȗƲȐ ȊNjǷNjȍǡǶƲƲǷ ȊȍǽȊǽȐƲDZ ȐNjȍȗƲ ǯǽǷȗƲǯ ȐƲDZƲǞ ȐƲȗȚ ȊƲǷǡȗǡƲ
ȊNjǷƲǷǘǘȚǷǘ ǬƲΒƲǀ

ߞ࢚ =LjȌȠǷȣLjȍ UȣȓȠȓȦLjȇ
NjȍǡȐǡ DZƲǶȊǡȍƲǷ Ǘǽȗǽ ȊȍǽȐNjȐ ΘƲǷǘ ȐȚLJƲǞ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ȊƲǷǡȗǡƲ ȐNjȊNjȍȗǡ
ȍƲǷǁƲǷǘƲǷ LJNjȐƲǡǷ ȊǽȐȗNjȍष ȊNjȍNjǷǁƲǷƲƲǷ LJNjǯǽȍƲȐǡ DZǽǯƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷष ƲȗƲȚ Ǘǽȗǽ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡹࡺ


ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȊNjȍǷƲǞ LJǡDZƲǯȚǯƲǷ ॲǯǞȚȐȚȐ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ
ǀNjȍȐǡǗƲȗ ȐNjȍǡƲDZॳा
ߟ࢚ =ǡȌǖLjȣ UǡȍǮǡȦLjǴLjȍ
NjȍǡȐǡ ǯǽDZǽǶঃǯǽDZǽǶ ȗƲǷLJƲ ȗƲǷǘƲǷ ȊNjǷǘȚȍȚȐ ǡǷȗǡ LJƲȍǡ ǯNjȊƲǷǡȗǡƲƲǷ ǯNjǘǡƲȗƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ȐNjȊNjȍȗǡ <NjȗȚƲ ǁƲȍƲ LJƲǷ ȊNjǷƲǷǘǘȚǷǘ ǬƲΒƲǀ ǯNjǘǡƲȗƲǷा
LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

,Ljȇ ͕LjȍǮ ,LjȣȰȦ ǷȠǡȣǴLjȭǷȅLjȍ ǝLjȇLjȌ UǡȍȰȇǷȦLjȍ bǡȅȦ UȣȓȠȓȦLjȇ ǝLjȍ bǡȅȦ
ߛ UȣȓȠȓȦLjȇ <ǡǮǷLjȭLjȍ ࣐LjǴ͕Lj <LjȌǷȇLj࣑
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡺǁLJǀΑȌBDZB

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǗȚǷǘȐǡ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷा
ǀा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ
ǶNjǶǀȚȗȚǞǯƲǷ ȊNjǶǀȚƲȗƲǷ ȊȍǽȊǽȐƲDZा

ࡲࡺࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǁा [NjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ȊNjǷǬNjDZƲȐƲǷ LJƲȍǡ ǘȚȍȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ
ǶNjȍNjϲNjǯȐǡǯƲǷ ȊȍǽΘNjǯȐǡ ǯNjǘǡƲȗƲǷ ƲȊƲ ΘƲǷǘ ǶNjǶǀȚȗȚǞǯƲǷ ȊNjǷȚDZǡȐƲǷ
ȊȍǽȊǽȐƲDZा
LJा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ LJǡȍǡ
ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷा
Njा %ȚȍȚ ǶNjǷȚǷǬȚǯǯƲǷ LJƲǷ ǶNjǷǬNjDZƲȐǯƲǷ ǯNjȍƲǷǘǯƲ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ƲLJƲ LJǡ ǶƲȗNjȍǡा
Ǘा [NjDZƲǷǬȚȗǷΘƲ ǘȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǯƲǡȗƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷष
ǶƲǷƲǬNjǶNjǷ ΑǽǯƲDZ LJƲǷ ǶƲǷƲǬNjǶNjǷ ǡǷȐȗȍȚǶNjǷ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍ ȐNjǀNjDZȚǶǷΘƲा
ǘा %ȚȍȚLJƲȊƲȗǶNjǶǀNjȍǡǯƲǷǁǽǷȗǽǞঃǁǽǷȗǽǞȊNjǷNjȍƲȊƲǷǶƲǷƲǬNjǶNjǷȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ LJƲǷ
NjǯȐȊDZǽȍƲȐǡ LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ΘƲǷǘ
ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ
ȊNjȍȗȚǷǬȚǯƲǷषǶƲǷƲǬNjǶNjǷΑǽǯƲDZLJƲǷǶƲǷƲǬNjǶNjǷǡǷȐȗȍȚǶNjǷLJƲǷȊNjǷNjȍƲȊƲǷǷΘƲ
LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍ
ǡLJNj ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǶNjǷƲȍǡǯष ǯNjǶȚLJǡƲǷ ǶNjǷΘȚȐȚǷ ȊȍǽȊǽȐƲDZ
ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ
ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ȊȍǽȊǽȐƲDZ ȊNjȍȗȚǷǬȚǯƲǷ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯǽǷȐNjȊ ǶƲǷƲǬNjǶNjǷ ȊNjȍȗȚǷǬȚǯƲǷष ǶƲǷƲǬNjǶNjǷ ΑǽǯƲDZ
LJƲǷ ǶƲǷƲǬNjǶNjǷ ǡǷȐȗȍȚǶNjǷा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǯNjǡǯȚȗȐNjȍȗƲƲǷ LJƲDZƲǶ
ǯNjȊƲǷǡȗǡƲƲǷ ȐNjǀȚƲǞ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ǶNjǷƲǶȊǡDZǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯा %ȚȍȚ
LJƲȊƲȗ ǶNjǶǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǀNjǀNjȍƲȊƲ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲा ƲDZƲǶ ȐNjȗǡƲȊ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡺࡲ


ǯNjDZǽǶȊǽǯ ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǀNjȍǀƲǘǡ ǁNjȍǡȗƲ ǶNjǷǘNjǷƲǡ ȊNjǷǘƲDZƲǶƲǷ
ǶNjȍNjǯƲ ƲǯƲǷ ǯNjǡǯȚȗȐNjȍȗƲƲǷ ǯNjȊƲǷǡȗǡƲƲǷ ƲȗƲȚ ǞƲDZ ǶNjǷƲȍǡǯ ȐƲƲȗ ǶNjǷǬƲLJǡ
ȊNjǷǽǷȗǽǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȗNjȍǽȍǘƲǷǡȐǡȍ LJNjǷǘƲǷ ǀƲǡǯा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ
ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǀNjȍDZƲǷǘȐȚǷǘा LJƲȊȚǷ
ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ
ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡵाࡲࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ


CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ࡲࡺࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡵाࡲࡴ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjȍǀƲǘƲǡ ǶƲǷǗƲƲȗ
ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ȊNjǷǘNjȍȗǡƲǷ
ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ǯNjǘǡƲȗƲǷ LJƲDZƲǶ
ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ
UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ
ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ

BƲǶȊȚ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ǡLJNj ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ
LJNjǷǘƲǷ UNjȍȗȚǷǬȚǯƲǷ
BȚȐǡǯ ॲBƲǷƲǬNjǶNjǷ
UNjȍȗȚǷǬȚǯƲǷॳ

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡺࡴ


XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡵाࡲࡵ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

ࡲࡺࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष %ȚȍȚ
LJƲȊƲȗ ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍNj ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा UNjǶƲǞƲǶƲǷ ƲǯƲǷ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ࡳा NjǀƲǘƲǡ ǶƲǷǗƲƲȗ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ࡴा /LJNj ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ
ॲBƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷॳ

eȂǷ <ȓȌȠǡȭǡȍȦǷ

ࡲा ȊƲ ȊNjǷǘNjȍȗǡƲǷ LJƲȍǡ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷि


ࡳा [NjǀȚȗǯƲǷ ࡶ ǗȚǷǘȐǡ ȚȗƲǶƲ ǶƲǷƲǬNjǶǷ ǶNjǷȚȍȚȗ ,NjǷȍǡ $ƲΘǽDZह
ࡴा ȊƲ ǬNjǷǡȐ ȐȚƲȍƲ ǶƲǷȚȐǡƲ LJƲDZƲǶ ǬƲȍƲǯ ǷƲLJƲ ǶNjǷΘƲǷΘǡ %ࡳঃࡶि
ࡵा BNjǷȚȍȚȗ ǘƲǶǀƲȍ ȊǽȐǡȐǡ ȊNjǷNjǶȊƲȗƲǷ ȊNjǶƲǡǷ ǶȚȐǡǯ ǽȍǯNjȐ LJǡǀƲΒƲǞष ƲȊƲ
ǬNjǷǡȐ ȍȚǶȊȚǷ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǷNjǶȊƲȗǡ ȊǽȐǡȐǡ ष ष ष ष LJƲǷ ि

ࡶा [NjǀȚȗǯƲǷ ǡȐȗǡDZƲǞ DZƲǡǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ǯNjDZǽǶȊǽǯ ΘƲǷǘ ȗNjȍLJǡȍǡ LJƲȍǡ LJȚƲ
ǽȍƲǷǘष ȗǡǘƲ ǽȍƲǷǘ LJƲǷ NjǶȊƲȗ ǽȍƲǷǘह
ࡷा ȊƲ ȐƲǬƲ LJȚƲ ǀNjǷȗȚǯ LJȚǯȚǷǘƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǀNjȍǡǯƲǷ ȚǷȗȚǯ ǶNjǷȐȚǯȐNjȐǯƲǷ
ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯि

eǷǡȗ ࡵ ঃ BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ ࡲࡺࡶ


ࡸा ȊƲ ΘƲǷǘ ǶNjǶǀNjLJƲǯƲǷ ȊȍǽȊǽȐƲDZ ȐȊǽǷȐǽȍȐǞǡȊ LJNjǷǘƲǷ ȊȍǽȊǽȐƲDZ ǡΝǡǷ ǯNjǘǡƲȗƲǷि
ࡹा [NjǀȚȗǯƲǷ ȐƲDZƲǞ ȐƲȗȚ ǯƲǡLJƲǞ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯह
ࡺा ȊƲ ǡȐǡ %ƲǶǀƲȍƲǷ <NjǘǡƲȗƲǷ ȊƲLJƲ ȊNjǷȚDZǡȐƲǷ Ʋǀ //श NjȗƲǡDZ <NjǘǡƲȗƲǷ
UȍǽȊǽȐƲDZि
ࡲࡱा ȊƲ ȐƲǬƲ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǶȊǡȍǯƲǷ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ ǯNjǘǡƲȗƲǷ
ȊNjȍȗȚǷǬȚǯƲǷि

eȍȭȰȅ LjǴLjȍ UǡȍǮLj͕LjLjȍ ǝLjȍ


XǡǭǡȣǡȍȦǷ =LjǷȍ࢓ [ǗLjȍ WX
ȓǝǡ ǝǷǖLj͏LjǴ ǷȍǷ࢒

%ƲǶǀƲȍ ࡵाࡷ WX ȓǝǡ eǷǡȗ ࡵ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

ࡲࡺࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


KEMENTRIAN PENDIDIKAN, KEBUDAYAAN, RISET, DAN KEBUDAYAAN
REPUBLIK INDONESIA, 2021
Buku Panduan Guru Seni Musik
untuk SMA/SMK Kelas X

ISBN: 978‐602‐244‐301‐8 (jil.1 )

4-(3 
?/1$2(?2( ,42(*
Ƿǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡲࡺࡸ
eȍǷȭ ߟ ࢒
ȊȍNjȐǡƲȐǡ BȚȐǡǯ
XNjǯǽǶNjǷLJƲȐǡ ƲDZǽǯƲȐǡ ΒƲǯȗȚ LJƲDZƲǶ ǶNjǶȊNjDZƲǬƲȍǡ
ȚǷǡȗ ȊNjǶǀNjDZƲǬƲȍƲǷश ࡹ Η ࡵࡶ ǶNjǷǡȗ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ ȊNjǷǘƲDZƲǶƲǷǷΘƲ
ǶNjǷǘǞƲLJǡȍǡॅǶNjǷǘƲǶƲȗǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ LJƲǷ NjȍƲ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ
LJNjǷǘƲǷ ȐȗƲǷLJƲȍ ǶȚȐǡǯƲDZǡȗƲȐ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ LJƲȍǡ ȊȍǽȐNjȐ ǶȚȐǡǯƲDZǡȐƲȐǡ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJƲȊƲȗ
ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ ȊNjȍǯNjǶǀƲǷǘƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ
ǶNjǷLJȚǯȚǷǘ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

ǡȦȅȣǷȠȦǷ UǡȌǖǡȇLjȂLjȣLjȍ
[NjǶȚƲ ǯƲȍΘƲ ǶȚȐǡǯ ǶƲȚȊȚǷ ǯƲȍΘƲঃǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ ǶNjǶǡDZǡǯǡ ǷǡDZƲǡঃǷǡDZƲǡ
ǯNjǡǷLJƲǞƲǷा bǡǷǘǯƲȗƲǷ ƲȊȍNjȐǡƲȐǡ ȐNjȗǡƲȊ ǽȍƲǷǘ ȗNjȍǞƲLJƲȊ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡ ƲǯƲǷ
ǀNjȍǀNjLJƲঃǀNjLJƲष ǀNjȍǘƲǷȗȚǷǘ ǯNjȊƲLJƲ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ LJƲǷ ȐNjDZNjȍƲ ȐNjǷǡ ΘƲǷǘ
ǶNjȍNjǯƲ ǶǡDZǡǯǡा [NjǶȚƲ ǯƲȍΘƲ ΘƲǷǘ ȗNjDZƲǞ LJǡǁǡȊȗƲǯƲǷ ȗNjȍȐNjǀȚȗ ƲǯƲǷ LJǡǶƲǡǷǯƲǷ
LJƲǷ LJǡȗƲǶȊǡDZǯƲǷ LJƲDZƲǶ ȐȚƲȗȚ ǯNjǶƲȐƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ ǀƲǘǡ ȊƲȍƲ ȊNjǷǽǷȗǽǷ
LJƲǷ ȊƲȍƲ ȊNjǷǡǯǶƲȗ ȐNjǷǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗा UNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ
LJǡȗƲǶȊǡDZǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ǯǽǷȐNjȍ ȐNjǁƲȍƲ ȓωǷȍǡ ॲȇǷ͎ǡ ȠǡȣǭȓȣȌLjȍǗǡॳ ǶƲȚȊȚǷ
ȐNjǁƲȍƲ ȓȍȇǷȍǡ ॲ͎ǷȣȭȰLjȇ ǗȓȍǗǡȣȭॳा BNjDZƲDZȚǡ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷष ǯƲȍΘƲ ȐNjǷǡॅ
ǶȚȐǡǯ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ LJƲǶȊƲǯ ǯNjȊƲLJƲ ȊƲȍƲ ȊNjǷǡǯǶƲȗ ȐNjǷǡॅ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
ƲǶȊƲǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲȊƲȗ ǀNjȍȚȊƲ ȊNjȍƲȐƲƲǷ ǀƲǞƲǘǡƲष ȐNjLJǡǞष ǯƲǘȚǶष LJƲǷ DZƲǡǷঃ
DZƲǡǷा UƲLJƲ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷǡȗ ࡲঃࡵष ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjDZǡǞƲȗ ȊȍǽȐNjȐ
ΘƲǷǘ ȊƲǷǬƲǷǘ LJƲǷ ǯǽǶȊDZNjǯȐष ΘƲǷǘ LJǡƲDZƲǶǡ LJƲǷ LJǡǀȚȗȚǞǯƲǷ LJƲDZƲǶ ǶNjǷǘǞƲȐǡDZǯƲǷ
ȐȚƲȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȊNjȍȗȚǷǬȚǯǯƲǷा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷष LJǡǶƲǡǷǯƲǷष LJƲǷ LJǡȗƲǶȊǡDZǯƲǷ
ȗNjȍȐNjǀȚȗा

ࡲࡺࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UNjǶƲǞƲǶƲǷ ȚǷȗȚǯ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȐȚƲȗȚ ǀNjǷȗȚǯ ǯƲȍΘƲ ȐNjǷǡ ǶNjȍȚȊƲǯƲǷ
ǞƲDZ ΘƲǷǘ ȊȍǡǀƲLJǡ LJƲǷ ȗǡLJƲǯ LJƲȊƲȗ LJǡȊƲǯȐƲǯƲǷा HDZNjǞ ǯƲȍNjǷƲ ǡȗȚष ȊNjȐNjȍȗƲ LJǡLJǡǯ
ǀNjDZƲǬƲȍ ǶNjǶƲǞƲǶǡ ƲȐȊNjǯঃƲȐȊNjǯ NjȐȗNjȗǡǯƲ LJƲDZƲǶ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǯNjǡǷLJƲǞƲǷ
ǀȚǷΘǡঃǶȚȐǡǯ ॲȐȚƲȍƲॳष ǯNjǡǷLJƲǞƲǷ ǞƲȍǶǽǷǡष ǯNjȗƲǷǘǯƲȐƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ
ǶȚȐǡǯष ȊNjǷǘǞƲΘƲȗƲǷ ॲNjǯȐȊȍNjȐǡ ǶȚȐǡǯॳष ȊNjǶƲǞƲǶƲǷ ǯǽǷȗNjǷ ॲǡȐǡ LJƲǷ
ȊNjȐƲǷॳष LJƲǷ ǯNjǡǷLJƲǞƲǷ ȊNjȍȗȚǷǬȚǯƲǷ LJƲDZƲǶ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯा ƲDZƲǶ
ȊNjȍǯNjǶǀƲǷǘƲǷ ǶȚȐǡǯ ƲȍƲȗष ƲȐȊNjǯঃƲȐȊNjǯ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ȗNjDZƲǞ ȗNjȍǀNjǷȗȚǯ
LJƲǷ ȗNjȍǽȍǘƲǷǡȐƲȐǡ LJƲDZƲǶ ǀNjǷȗȚǯ ǯƲǬǡƲǷ ΘƲǷǘ ȗNjȍȐȗȍȚǯȗȚȍा HDZNjǞ ǯƲȍNjǷƲ ǡȗȚष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ ǶNjǷǘǯƲǬǡ LJƲǷ ǀNjDZƲǬƲȍ ǀNjǷȗȚǯ ƲȊȍNjȐǡƲȐǡ ǶȚȐǡǯ
ǶNjDZƲDZȚǡ ǶNjLJǡƲ ǶȚȐǡǯ ƲȍƲȗा BNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ȊNjȍǯNjǶǀƲǷǘƲǷ
ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा Ʋȍǡ ȊȍǽȐNjȐ ȊNjǷǘƲȊȍNjȐǡƲȐǡƲǷ
ȗNjȍȐNjǀȚȗष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ ȊƲǷLJƲǷǘƲǷ ΘƲǷǘ DZNjǀǡǞ ȍǡǷǁǡ LJƲDZƲǶ
ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZा CǡDZƲǡ NjȐȗNjȗǡǯƲ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ
LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡ ǶNjDZǡȊȚȗǡ ǯNjȚǷǡǯƲǷ ǡǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǀƲǞƲȐƲ ΘƲǷǘ LJǡǘȚǷƲǯƲǷ
ॲDZǡȍǡǯॳष ȗȚǬȚƲǷ LJƲȍǡ ȊNjǷǁǡȊȗƲƲǷ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ǯƲNjLJƲǞঃǯƲNjLJƲǞ
ǀȚLJƲΘƲ ȗNjǶȊƲȗ ǶȚȐǡǯ ǡȗȚ ǀNjȍƲȐƲDZष ȗNjȍǶƲȐȚǯ ȊȍǽȐNjȐ ȊNjǷǁǡȊȗƲƲǷष ȊNjǷΘƲǬǡƲǷष
LJƲǷ NjǯȐȊȍNjȐǡ ǶȚȐǡǯा NjǷǘƲǷ ǀNjǯƲDZ ǯNjǶƲǶȊȚƲǷ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊȍNjȐǡ ȐNjǶȚƲ
ǀNjǷȗȚǯ ǶȚȐǡǯ ॲǀƲȍƲȗ ǶƲȚȊȚǷ ȗǡǶȚȍॳष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ LJƲȊƲȗ ȊȚDZƲ
ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȐNjǘƲDZƲ ǶƲǁƲǶ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲष ǀƲǡǯ
ǶȚȐǡǯ ǯDZƲȐǡǯ ǶƲȚȊȚǷ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍा
UƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǁǽǷȗǽǞ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǘȚȍȚ LJƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷा %ȚȍȚ LJƲȊƲȗ ǶNjǷǘǘȚǷƲǯƲǷ
ǶǽLJNjDZLJƲǷȊȍǽȐNjȐȊNjǶǀNjDZƲǬƲȍƲǷDZƲǡǷΘƲǷǘȐNjȐȚƲǡLJNjǷǘƲǷǯǽǷLJǡȐǡLJǡDZǡǷǘǯȚǷǘƲǷष
ȐƲȍƲǷƲ ȊȍƲȐƲȍƲǷƲष ǯǽǷLJǡȐǡ ȊNjǶǀNjDZƲǬƲȍƲǷष LJƲǷ ȗƲDZNjǷȗƲ ΘƲǷǘ LJǡǶǡDZǡǯǡ ǽDZNjǞ ȊƲȍƲ
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡ ȐNjǯǽDZƲǞ ǶƲȐǡǷǘঃǶƲȐǡǷǘा NjǷȗȚǯ LJƲǷ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ
DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ LJƲȊƲȗ LJǡDZǡǞƲȗ ȊƲLJƲ ǀƲǘǡƲǷ ƲDZȗNjȍǷƲȗǡǗ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ȍȚǷȗȚȗƲǷ DZƲǷǘǯƲǞঃDZƲǷǘǯƲǞ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷा
eǷȗȚǯ LJƲȊƲȗ ǶNjǶȚLJƲǞǯƲǷ ǘȚȍȚ LJƲDZƲǶ ǶNjDZƲǯȐƲǷƲǯƲǷ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȊƲLJƲ ȚǷǡȗ ࡶ ǡǷǡष ǶƲǯƲ ƲǯƲǷ LJǡȐƲǬǡǯƲǷ ȊƲǷLJȚƲǷ ȊNjDZƲǯȐƲǷƲƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȚǷȗȚǯ LJNjDZƲȊƲǷ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲष ΘƲǷǘ ƲǯƲǷ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj
LJƲDZƲǶ ࡵ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷा BƲȐǡǷǘঃǶƲȐǡǷǘ ǯNjDZǽǶȊǽǯ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȊNjȍȗNjǶȚƲǷा [NjȗǡƲȊ ȊNjȍȗNjǶȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ƲLJƲDZƲǞ
ࡵࡶ ǶNjǷǡȗष LJNjǷǘƲǷ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjǷǡDZƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡲࡺࡺ


ߛ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߛ ǝLjȍ ߜ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳष ǘȚȍȚ ǶNjǶǀNjȍǡǯƲǷ
ȊNjǶƲȊƲȍƲǷ ȗNjǷȗƲǷǘ ȊNjǷǘNjȍȗǡƲǷ NjȐȗNjȗǡǯƲ LJƲǷ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ
ǯǽǷȐNjȊ NjȐȗNjȗǡǯƲ ǀȚǷΘǡा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȊNjDZƲǬƲȍǡ ȚǷȐȚȍঃȚǷȐȚȍ
ǯNjǡǷLJƲǞƲǷ LJƲȍǡ ǀȚǷΘǡ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȊNjǶȚȗƲȍƲǷ ǀNjȍƲǘƲǶ ǶƲȗNjȍǡ ƲȚLJǡǽঃΑǡLJNjǽ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞा [NjDZƲǷǬȚȗǷΘƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ
LJƲȊƲȗ LJNjǷǘƲǷ ǀNjǀƲȐ ǶNjǷǘNjǯȐȊȍNjȐǡǯƲǷ LJǡȍǡ ȗNjȍǞƲLJƲȊ ǯȚƲDZǡȗƲȐ ǀȚǷΘǡॅ
ȐȚƲȍƲ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ
ǶNjǶǀƲǷȗȚ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ
ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍǯƲǷ
ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ ȊNjȍȊƲLJȚƲǷ ǀNjȍǀƲǘƲǡ ȚǷȐȚȍঃ
ȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ
ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा
[NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ
ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯǽǷȐNjȊ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ
LJƲǷ ȊNjǷǘƲȍȚǞ ǯǽǷȐNjȊ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ
ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ
ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ
LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡǗǡǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ
ǯƲȍΘƲ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ ǷǡDZƲǡঃǷǡDZƲǡ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍLJƲǶȊƲǯ
ǀƲǘǡ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ
LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ƲȐȊNjǯ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

ࡳࡱࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ߜ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߝ ǝLjȍ ߞ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶȊNjDZƲǬƲȍǡ
LJƲǷ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ǶȚȐǡǯ ƲȍƲȗा bƲǞƲȊ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjǷNjǯƲǷǯƲǷ ǯNjȊƲLJƲ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ
NjǯȐȊȍNjȐǡΑǡȗƲȐ ॲȊNjǷǘǞƲΘƲȗƲǷॳ ǀNjȍǶȚȐǡǯ LJƲǷ ǷǡDZƲǡঃǷǡDZƲǡ ǯNjǡǷLJƲǞƲǷ LJƲȍǡ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा ƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ
ǶȚȐǡǯ LJƲȍǡ ǀƲǞƲǷ ȊNjǷǘƲΘƲƲǷ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा
ǀा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǡǶǡȗƲȐǡ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ LJƲǷ ǶNjǶƲǞƲǶǡ NjǯȐȊȍNjȐǡ
ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲDZƲǶ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǶȚȐǡǯ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
%ȚȍȚ LJƲȊƲȗ ȊȚDZƲ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ƲȚLJǡǽঃΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȊNjȍȐǡƲȊǯƲǷ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ
ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा
ǁा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ƲȊȍNjȐǡƲȐǡ ȗNjȍǞƲLJƲȊ ǯƲȍΘƲ
ǶȚȐǡǯ ǀƲȍƲȗ LJƲDZƲǶ ǀNjȍƲǘƲǶ Ǯǡȍȣǡ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ
ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjǶƲǶȊȚƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ LJƲȍǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ
LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
LJा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ
ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ ƲǯƲǷ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ
LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǀNjȍǀƲǘƲǡ ǶƲǁƲǶ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा
[NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ
ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ȗNjȍǞƲLJƲȊ
ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ƲȍƲȗ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ
ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ LJƲȍǡ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ƲȍƲȗ ȗNjȍȐNjǀȚȗष
ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ
LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ BƲǞƲ ȐƲा NjǷǘƲǷ
LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ
ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯNjǡǷLJƲǞƲǷ ǶȚȐǡǯ ǀƲȍƲȗ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡱࡲ


DZǡǷǘǯȚǷǘƲǷ LJƲǷ ǶƲȐΘƲȍƲǯƲȗा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ ƲȐȊNjǯ
ǯNjȗNjȍƲǶȊǡDZƲǷा
Njा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡष LJƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ǀNjȍLJƲȐƲȍǯƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा <NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ
ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߝ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߟ ǝLjȍ ߠ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷष ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶȊNjDZƲǬƲȍǡ
ƲȐȊNjǯঃƲȐȊNjǯ NjȐȗNjȗǡǯƲ LJƲȍǡ ǀNjȍǀƲǘƲǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZा BNjȍNjǯƲ LJƲȊƲȗ
ǶNjDZƲǯȚǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ȐNjǁƲȍƲ ǶƲǷLJǡȍǡ ǶƲȚȊȚǷ ǀNjȍǯNjDZǽǶȊǽǯ
LJNjǷǘƲǷǶNjǷLJNjǷǘƲȍǯƲǷǶƲȗNjȍǡȊƲLJƲǀƲǞƲǷȊNjǷǘƲΘƲƲǷȊƲLJƲǀȚǯȚȊƲǷLJȚƲǷ
ǘȚȍȚा %ȚȍȚ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ
ȚǷȐȚȍ NjȐȗNjȗǡǯ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा ȐȊNjǯ NjȐȗNjȗǡǯƲ LJƲȍǡ
ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ǡǷǡ LJƲȊƲȗ ǀNjȍȚȊƲष ǯNjȚǷǡǯƲǷ LJƲǷ ǯNjǡǷLJƲǞƲǷ ǶNjDZǽLJǡ
LJƲǷ ǞƲȍǶǽǷǡ ΘƲǷǘ LJǡǘȚǷƲǯƲǷष ǀȚǷΘǡ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ LJǡǘȚǷƲǯƲǷष
ǯNjǯǞȚȐȚȐƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯष ǯNjǡǷLJƲǞƲǷ ǀƲǞƲȐƲष ǯǽȐȗȚǶष LJƲǷ
ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ LJƲǷ ǀȚLJƲΘƲा NjǷǘƲǷ ȊƲǷLJȚƲǷ ǘȚȍȚष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ
LJǡǶǡDZǡǯǡ LJƲDZƲǶ ǶNjǶƲǡǷǯƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष
LJƲǷ NjǯȐȊȍNjȐǡ ǶȚȐǡǯॳ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ LJƲǷ ǀNjȍNjǯȐȊNjȍǡǶNjǷ LJƲDZƲǶ ǶNjǷǘǡǶǡȗƲȐǡ
ǀȚǷΘǡ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǷǘNjǶǀƲǷǘǯƲǷ
ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ LJƲȍǡ ȊNjȐNjȍȗƲ
LJǡLJǡǯा %ȚȍȚ ǬȚǘƲ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶNjǷǘǘȚǷƲǯƲǷ
ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊȍǽȐNjȐ
ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷΘƲLJƲȍǡ

ࡳࡱࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǗȚǷǘȐǡ LJƲǷ ȊNjȍƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ
NjǯȐȊȍNjȐǡ ǀNjȍǶȚȐǡǯॳ LJƲDZƲǶ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा [NjDZƲǷǬȚȗǷΘƲष
ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJƲDZƲǶ ǶNjǷǘƲȊȍNjȐǡƲȐǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ ǯNjǡǷLJƲǞƲǷ
ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ
ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ
ǀNjȍLJƲǶȊƲǯ ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ
LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ
LJƲǷ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा <NjǘǡƲȗƲǷ
ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा
ߞ࢚ UȣȓȦǡȦ ȅǡǮǷLjȭLjȍ ȠǡȌǖǡȇLjȂLjȣLjȍ ߡ ǝLjȍ ߢ࢚
Ʋा UƲLJƲ ȊƲǷLJȚƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹष ȊNjȐNjȍȗƲ LJǡLJǡǯ
ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ ǶƲǁƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ LJƲǷ ǶȚȐǡǯ ȐNjǁƲȍƲ
ǶƲǷLJǡȍǡ ǶƲȚȊȚǷ ǀNjȍǯNjDZǽǶȊǽǯा NjȍƲǘƲǶ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ
ǶȚȐǡǯ ǡǷǡ ǶNjǷǁƲǯȚȊ ǯNjǀNjȍƲǘƲǶƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯष
ǬNjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯष LJƲǷ DZƲǡǷঃDZƲǡǷा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ ȗƲǞƲȊ ǡǷǡ
ƲǯƲǷ LJǡǯǽDZƲǀǽȍƲȐǡǯƲǷ LJNjǷǘƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲǷ ǯNjǡDZǶȚƲǷ ΘƲǷǘ
DZƲǡǷष ȗNjȍȚȗƲǶƲ ȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȐƲǬǡƲǷ ǶȚȐǡǯ
ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲȊƲȗ LJǡǯNjǶƲȐ LJNjǷǘƲǷ DZNjǀǡǞ ǶNjǷƲȍǡǯ LJƲǷ LJƲȊƲȗ DZNjǀǡǞ
ǶNjǷǁNjȍǶǡǷǯƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा
ǀा ƲDZƲǶ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǡǷǡष ǘȚȍȚ ǶNjǷǘƲǬƲǯ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞष ƲǘƲȍ LJƲȊƲȗ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ƲȐȊNjǯ ȐȊǡȍǡȗȚƲDZ LJƲǷ
ȐǽȐǡƲDZष ȐNjȍȗƲ ǯNjȗNjȍƲǶȊǡDZƲǷ ǀNjȍǶȚȐǡǯ ȊNjȐNjȍȗƲ LJǡLJǡǯा ,ƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ
ǶNjDZƲDZȚǡ ǶǽLJNjDZ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȍǡ
ȊȍǽȐNjȐ ǶNjǷNjǶȚǯƲǷ ǀƲǘǡ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǁा UȍǽȐNjȐ ȊNjǷǘNjǯȐȊDZǽȍƲȐǡƲǷ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ
ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞঃǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ
ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǯǡ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡱࡴ


ΒƲΒƲȐƲǷ ΘƲǷǘ DZȚƲȐ ȗNjǷȗƲǷǘ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ LJƲǷ ǁƲȍƲ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ
ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ ǀNjȍLJƲǶȊƲǯा [NjDZƲǷǬȚȗǷΘƲष ǘȚȍȚ LJƲȊƲȗ ǶNjDZƲǯȚǯƲǷ
ȊNjǶƲǷȗƲȚƲǷ ȐǡǯƲȊ LJƲǷॅƲȗƲȚ ȊNjȍǡDZƲǯȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷΘƲLJƲȍǡ
ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊNjǷǘNjǷƲDZƲǷ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȊNjDZƲǬƲȍǡा UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǬȚǘƲ ȊNjȍDZȚ ǶNjǷΘƲLJƲȍǡ ǗȚǷǘȐǡ LJƲǷ ȊNjǷǘƲȍȚǞ
ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȗNjȍǞƲLJƲȊ ȗǡǷǘǯƲȗ ȊNjǶƲǞƲǶƲǷ ǶNjȍNjǯƲ ƲǯƲǷ
ȊNjȍƲǷ LJƲǷ ǯNjLJȚLJȚǯƲǷ LJǡȍǡǷΘƲ ȐNjǀƲǘƲǡ ǶƲǯǞDZȚǯ ǁǡȊȗƲƲǷ bȚǞƲǷ yƲǷǘ
BƲǞƲ ȐƲा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷष
ǶNjǶǡDZǡǞष ǶNjǶǀȚƲȗष LJƲǷ ǶNjǷΘƲǬǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ ǀNjȍLJƲǶȊƲǯ
ǯNjȊƲLJƲ ǶƲȐΘƲȍƲǯƲȗ LJƲǷ DZǡǷǘǯȚǷǘƲǷा UNjǷǡDZƲǡƲǷ ǞƲȐǡDZ ǀNjDZƲǬƲȍ LJƲȊƲȗ
LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ƲȐȊNjǯ ȐǡǯƲȊ LJƲǷ
ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
LJा UȍǽȐNjȐ ǯNjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǷLJNjǷǘƲȍष ǶNjDZǡǞƲȗष
ǶNjȍNjϲNjǯȐǡष LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡ ǀNjǷȗȚǯ ȐƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
<NjǘǡƲȗƲǷ ǡǷǡ ƲǯƲǷ LJǡDZƲǯȚǯƲǷ LJƲDZƲǶ ࡳ ǯƲDZǡ ȗƲȗƲȊ ǶȚǯƲ ॲࡳΗ ࡵࡶ ǶNjǷǡȗॳा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ / ǝLjȍ //


ȐȗNjȗǡǯƲ ȚǷΘǡ BȚȐǡǯ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ ȊNjǷǘƲDZƲǶƲǷǷΘƲ
ǶNjǷǘǞƲLJǡȍǡॅǶNjǷǘƲǶƲȗǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ LJƲǷ NjȍƲ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ
LJNjǷǘƲǷ ȐȗƲǷLJƲȍ ǶȚȐǡǯƲDZǡȗƲȐ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ LJƲȍǡ ȊȍǽȐNjȐ ǶȚȐǡǯƲDZǡȐƲȐǡ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡा

BLjȭǡȣǷ Uȓȅȓȅ
UNjǶƲǞƲǶƲǷ ȚȗƲǶƲ ΘƲǷǘ LJǡǀȚȗȚǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ LJƲȊƲȗ
ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ ƲLJƲDZƲǞ ȊNjǶƲǞƲǶƲǷ ƲǯƲǷ NjȐȗNjȗǡǯƲ LJƲȍǡ
ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा ȐȗNjȗǡǯƲ ȐNjǁƲȍƲ ȚǶȚǶ LJƲȊƲȗ ǀNjȍƲȍȗǡ ǯNjǡǷLJƲǞƲǷा NjǷǘƲǷ
LJNjǶǡǯǡƲǷष ȐNjȗǡƲȊ ȚǷȐȚȍ ȐNjǷǡ ƲȗƲȚȊȚǷ ǶȚȐǡǯ ǶNjǶǡDZǡǯǡ ǷǡDZƲǡঃǷǡDZƲǡ ǯNjǡǷLJƲǞƲǷ

ࡳࡱࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ΘƲǷǘ ȗNjȍǯƲǷLJȚǷǘ LJǡ LJƲDZƲǶǷΘƲा CǡDZƲǡঃǷǡDZƲǡ ǯNjǡǷLJƲǞƲǷ ΘƲǷǘ ȗNjȍǯƲǷLJȚǷǘ LJƲDZƲǶ
ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǗȚǷǘȐǡ ΘƲǷǘ LJǡǶǡDZǡǯǡ LJƲȍǡ ȐNjȗǡƲȊ ǯƲȍΘƲ ȗNjȍȐNjǀȚȗा
ǽǷȗǽǞ ȊNjǷǘǘƲǶǀƲȍƲǷ LJƲȍǡ ǗȚǷǘȐǡ ǶȚȐǡǯ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
Ʋा $ȚǷǘȐǡ ǶȚȐǡǯ ΑǽǯƲDZ ॲDZƲǘȚॳ ƲLJƲDZƲǞ ǶNjǷǘȚǷǘǯƲȊǯƲǷ NjǶǽȐǡष ȊNjȍƲȐƲƲǷष LJƲǷ
ȊǡǯǡȍƲǷ ȐNjȐNjǽȍƲǷǘ ǯNjȊƲLJƲ ǽȍƲǷǘ DZƲǡǷष ǶNjǷǘǘȚǷƲǯƲǷ DZƲǘȚ ΘƲǷǘ ǶNjȍȚȊƲǯƲǷ
ȍƲǷǘǯƲǡƲǷ DZǡȍǡǯ LJƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ
NjǯȐȊȍNjȐǡॳ LJƲDZƲǶ ȐȚƲȗȚ ǯNjȐƲȗȚƲǷ ΘƲǷǘ ǡǷLJƲǞा
ǀा $ȚǷǘȐǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ƲLJƲDZƲǞ ǶNjǷǘȚǷǘǯƲȊǯƲǷ NjǶǽȐǡष ȊNjȍƲȐƲƲǷष LJƲǷ
ȊǡǯǡȍƲǷ ȐNjȐNjǽȍƲǷǘ ǯNjȊƲLJƲ ǽȍƲǷǘ DZƲǡǷष LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ǷƲLJƲঃǷƲLJƲ LJƲDZƲǶ
ǯNjȐƲȗȚƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡॳ
ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡǡǷǘǡǷǯƲǷा
ƲDZƲǶ ǀǡLJƲǷǘ ǶȚȐǡǯष ȚǷȐȚȍ ǯNjǡǷLJƲǞƲǷ ȚȗƲǶƲ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ
ƲLJƲDZƲǞ ǯNjǡǷLJƲǞƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ǀȚǷΘǡ ΘƲǷǘ LJǡLJNjǷǘƲȍा <NjǡǷLJƲǞƲǷ ǀȚǷΘǡ ǡǷǡ
LJƲȊƲȗ ǀNjȍȚȊƲ ȚǷȗƲǡƲǷ ǷƲLJƲ ΘƲǷǘ ǶNjǶǀNjǷȗȚǯ ǶNjDZǽLJǡ LJƲǷ ǞƲȍǶǽǷǡ ॲǶȚȐǡǯ
ǡǷȐȗȍȚǶNjǷॳ ƲȗƲȚȊȚǷ ȍƲǷǘǯƲǡƲǷ ǷƲLJƲ LJƲǷ DZǡȍǡǯ ΘƲǷǘ ǶNjǶǀNjǷȗȚǯ ȐNjǀȚƲǞ
DZƲǘȚ ॲǶȚȐǡǯ ΑǽǯƲDZॳा ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjǷȗȚǯƲǷ ƲȐȊNjǯ ǯNjǡǷLJƲǞƲǷ ȗNjȍȐNjǀȚȗष
ȊƲȍƲ ǶȚȐǡȐǡ ƲǯƲǷ ǶNjǷǘǽDZƲǞ LJƲǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ ǀNjȍǀƲǘƲǡ ȚǷȐȚȍ ǶȚȐǡǯष
ȐNjȊNjȍȗǡ ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष NjǯȐȊȍNjȐǡष LJǡǷƲǶǡǯƲष ȐNjȍȗƲ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ
DZƲǡǷǷΘƲष ǶNjǷǬƲLJǡ ȐȚƲȗȚ ȍƲǷǘǯƲǡƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞा BNjȍNjǯƲ LJƲȊƲȗ
ǶNjǷǘNjǯȐȊȍNjȐǡǯƲǷ NjǶǽȐǡष ȊǡǯǡȍƲǷष LJƲǷ ȊNjȍƲȐƲƲǷ ǞƲȗǡ DZNjΒƲȗ ǀȚǷΘǡঃǀȚǷΘǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȍƲǷǘǯƲǡƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ
ॲȗNjȍǶƲȐȚǯ ΘƲǷǘ ǀNjȍঃDZǡȍǡǯॳ ǶNjȍȚȊƲǯƲǷ ǁNjȍǶǡǷƲǷ LJǡȍǡ LJƲǷ ǞǡLJȚȊ ȐNjȐNjǽȍƲǷǘ
ΘƲǷǘ LJǡǷΘƲȗƲǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ȐǡǶǀǽDZ ǀȚǷΘǡ ǶȚȐǡǯा
UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǡDZǡǞ ǬNjǷǡȐঃǬNjǷǡȐ ǶNjLJǡƲ ॲΑǽǯƲDZ ƲȗƲȚ ǡǷȐȗȍȚǶNjǷॳ
ΘƲǷǘ ƲǯƲǷ LJǡǘȚǷƲǯƲǷ ȚǷȗȚǯ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ǘƲǘƲȐƲǷ LJƲǷ NjǯȐȊȍNjȐǡ
ǀNjȍǶȚȐǡǯǷΘƲा BNjȍNjǯƲ ǬȚǘƲ ȊNjȍDZȚ ǶNjǶȊNjȍȗǡǶǀƲǷǘǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ ƲǯƲǷ LJǡȊǡDZǡǞ ǶNjǷǬƲLJǡ ǶNjLJǡƲ ǀNjȍNjǯȐȊȍNjȐǡ ΘƲǷǘ LJǡȐȚǯƲǡ
ॲȐNjȐȚƲǡ LJNjǷǘƲǷ ȐNjDZƲȍƲ ǶȚȐǡǯ ǶNjȍNjǯƲॳ LJƲǷ ȊƲDZǡǷǘ NjǗNjǯȗǡǗा NjȍLJƲȐƲȍǯƲǷ ǘƲΘƲ
LJƲȍǡ ȐNjȗǡƲȊ Ǯǡȍȣǡ ǶȚȐǡǯष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷNjǷȗȚǯƲǷ ǗǽȍǶƲȐǡ ǶȚȐǡǯ ΘƲǷǘ
ƲǯƲǷ LJǡȊǡDZǡǞ ȚǷȗȚǯ ǶNjǶƲǡǷǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJƲDZƲǶ ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ
ΘƲǷǘ ǶNjǷƲȍǡǯा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡱࡶ


LjǴLjȍ UǡȍǮLj͕LjLjȍ ȰȍȭȰȅ %ȰȣȰ

UǡLjǗǡǭȰȇ UǷLjȍȓ Ljȍǝ [ȓǭȭ XLjǷȍ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǞǬࡹࡴǁΒǗH$ࡴy
CLjȭǷ͎ǡ ȌǡȣǷǗLjȍ $ȇȰȭǡ BȰȦǷǗ Ljȍǝ XLjǷȍ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡺΑࡴȐ~ΘȊǁǷࡵ
[ȰȇǷȍǮ [ȰȍǝLj
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝǞ=ǡࡷNjΑ<ࡵLJy

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ

%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ


ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ǶȚȐǡǯ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ȗNjǯǷǡǯ ȚǶȚǶ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ
ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǀNjȍƲǘƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯा
ࡷा BNjLJǡƲ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ȐNjǀƲǘƲǡ ȊNjǷǘǘƲǷȗǡ ƲDZƲȗ ȊNjǶȚǯȚDZ ȍǡȗǶǡȐष
ǁǽǷȗǽǞǷΘƲश
Ʋा ǽȗǽDZ ǯƲǁƲ LJƲǷ ǀǽȗǽDZ ȊDZƲȐȗǡǯ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǀा ǶǀNjȍॅǘƲDZǽǷ Ʋǡȍ ॲȚǯȚȍƲǷ ǯNjǁǡDZष ȐNjLJƲǷǘष LJƲǷ ǀNjȐƲȍॳ
ǁा UƲǷǁǡ LJƲǷ ΒƲǬƲǷ
LJा UǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ ॲLJǡƲǶNjȗNjȍ ࡴ ঁ ࡵ ǡǷǁǡष ࡶঃࡹ ǡǷǁǡष LJƲǷ LJǡ ƲȗƲȐ ƲȗƲȐ LJǡƲǶNjȗNjȍ
ࡺ ǡǷǁǡॳ

ࡳࡱࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡶा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ
ǁा [ǽȊȍƲǷǽ ȍNjǁǽȍLJNjȍष ƲDZȗǽ ȍNjǁǽȍLJNjȍष ȗNjǷǽȍ ȍNjǁǽȍLJNjȍष LJƲǷ ǀƲȐȐ ȍNjǁǽȍLJNjȍा
LJा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ƲǯƲǷ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjǷȗȚǯঃ
ǀNjǷȗȚǯ ǀȚǷΘǡ ǶȚȐǡǯा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊNjȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ
ǯǽǶȊǽȐǡȐǡ DZǡȍǡǯ LJƲǷ ǶȚȐǡǯ ΑǽǯƲDZष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ǀNjǷȗȚǯঃǀNjǷȗȚǯ ǀȚǷΘǡ ǶȚȐǡǯ ȐNjǁƲȍƲ DZȚƲȐ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍा
LJा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
Njा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ
ǀNjǷȗȚǯॅ ȊǽDZƲ ǶȚȐǡǯ LJƲǷ Ǯǡȍȣǡ ȐNjȐȚƲǡ ȍNjǗNjȍNjǷȐǡा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ
ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ
ǯƲǡȗƲǷǷΘƲ ƲǯƲǷ DZǡȍǡǯ DZƲǘȚ ȗNjȍǯƲǡȗा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ
ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ
LJǡȐNjLJǡƲǯƲǷ ॲLJNjǷǘƲǷ ȊNjǷNjǯƲǷƲǷ ȚǷȐȚȍ ȍǡȗǶNjॳा
Ǘा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡱࡸ


ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǡा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǭा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj
LJƲǷ ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯा UNjǷǬNjDZƲȐƲǷ ȚǷȐȚȍ ǶȚȐǡǯ ǡǷǡ ȊNjȍDZȚ LJǡǯƲǡȗǯƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯ
LJƲǷ Ǯǡȍȣǡ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ ǶNjǶƲȊƲȍǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZष ȗNjȍǯƲǡȗ ȣLjȍǮǡ ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ
LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॅLJǡǶƲǡǷǯƲǷॳ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ
ॲȭǷȌǖȣǡॳ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǯा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȊNjǶƲǞƲǶƲǷ ȍǡȗǶNj LJNjǷǘƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡ LJƲȊƲȗ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ
ǘNjȍƲǯ ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳ ǘȚȍȚ
ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ LJƲǷ
DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕࢚
DZा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ΑǽǯƲDZ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ƕा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
Ƿा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ
NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZ LJƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ

ࡳࡱࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡǶƲǡǷǯƲǷ LJƲǷ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ
ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ
ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ
ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ
LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ ǶȚȐǡǯा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ǶNjǷǘNjǯȐȊDZǽȍष
ǶNjǷLJNjǷǘƲȍǯƲǷष ǶNjǷǘƲǷƲDZǡȐǡȐ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯ
ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZष ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡱࡺ


bƲǀNjDZ ࡶाࡲ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǘȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

bƲǀNjDZ ࡶाࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ

ࡳࡲࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
ǘNjǷȍNj ǶȚȐǡǯ
BNjǶƲǞƲǶǡ ǯNjǡǷLJƲǞƲǷ
LJƲDZƲǶ ȚǷȐȚȍঃȚǷȐȚȍ
ǶȚȐǡǯ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ ǀNjǷȗȚǯ
ǀȚǷΘǡ ǶȚȐǡǯ ǀNjȐNjȍȗƲ
ǯNjǡǷLJƲǞƲǷǷΘƲ LJNjǷǘƲǷ
ƲǷȗȚȐǡƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡶाࡴ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ
Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡲࡲ


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǶȊȍƲǯȗǡǯǯƲǷ ǶƲȗNjȍǡ
ΘƲǷǘ ȐȚLJƲǞ LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा BNjǷǁƲȍǡ LJƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ȐȚǶǀNjȍঃȐȚǶǀNjȍ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞ
ࡳा BNjǷǁƲȍǡ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ǀƲȍȚ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ /// ǝLjȍ /q

ȊȍNjȐǡƲȐǡ BȚȐǡǯ ƲȍƲȗ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ ȊNjǷǘƲDZƲǶƲǷǷΘƲ
ǶNjDZǡǞƲȗ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ǀƲȍƲȗ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ ǀȚLJƲΘƲ LJƲǷ
NjȍƲ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ǀƲȍƲȗ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ
LJNjǷǘƲǷ ȐȗƲǷLJƲȍ ǶȚȐǡǯƲDZǡȗƲȐ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ǀƲȍƲȗ LJƲȍǡ ȊȍǽȐNjȐ
ǶȚȐǡǯƲDZǡȐƲȐǡ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǞƲȍǘƲǡ NjǯȐȊȍNjȐǡΑǡȗƲȐ ǀNjȍǶȚȐǡǯ LJƲȍǡ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ ǀƲȍƲȗ ΘƲǷǘ LJǡȐƲǬǡǯƲǷा

ࡳࡲࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


BLjȭǡȣǷ Uȓȅȓȅ
Ʋȍǡ ȐNjǘǡ NjȐȗNjȗǡǯƲǷΘƲष ǶȚȐǡǯ ǀƲȍƲȗ ȗNjDZƲǞ ǶNjǶǡDZǡǯǡ ȊƲǷLJȚƲǷ ȚǶȚǶ ǀNjȍȚȊƲ
ƲȗȚȍƲǷঃƲȗȚȍƲǷ ǀƲǯȚ LJƲDZƲǶ ǶNjǷLJNjϯǷǡȐǡǯƲǷ ȊȍǡǷȐǡȊঃȊȍǡǷȐǡȊ ǯNjǡǷLJƲǞƲǷ LJƲȍǡ
ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा UȍǡǷȐǡȊঃȊȍǡǷȐǡȊ ǯNjǡǷLJƲǞƲǷ ǡǷǡ ǶNjȍȚȊƲǯƲǷ ǞƲDZ ΘƲǷǘ
ǡǷȗȍǡǷȐǡǯ ȗNjȍLJƲȊƲȗ LJƲDZƲǶ ȐNjȗǡƲȊ ǯƲȍΘƲ ǶȚȐǡǯ ǀƲȍƲȗा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊȍǡǷȐǡȊঃ
ȊȍǡǷȐǡȊ ǯNjǡǷLJƲǞƲǷ ΘƲǷǘ LJǡƲȗȚȍ LJƲDZƲǶ ȊNjȍƲȗȚȍƲǷঃȊNjȍƲȗȚȍƲǷ ǀƲǯȚ ȗNjȍȐNjǀȚȗष
ǶNjȍȚȊƲǯƲǷ ǞƲDZ ΘƲǷǘ ȗNjȗƲȊा [ȚƲȗȚ ǯƲȍΘƲ ǶȚȐǡǯ LJƲȊƲȗ LJǡǯƲȗƲǯƲǷ ǡǷLJƲǞ ǀǡDZƲ
ǶNjǶNjǷȚǞǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǯNjǡǷLJƲǞƲǷ ȐNjǀƲǘƲǡǶƲǷƲ LJǡȗNjȗƲȊǯƲǷ LJƲDZƲǶ ȊȍǡǷȐǡȊঃ
ȊȍǡǷȐǡȊ ǯNjǡǷLJƲǞƲǷ ΘƲǷǘ ȐȚLJƲǞ LJǡƲȗȚȍ LJƲǷ LJǡȐNjȊƲǯƲȗǡ ȐNjǀƲǘƲǡ ǷǽȍǶƲॅǷǡDZƲǡ
ǯNjǡǷLJƲǞƲǷ ǀNjȍȐƲǶƲ LJǡ LJȚǷǡƲ ǀƲȍƲȗा ȗȚȍƲǷঃƲȗȚȍƲǷ ΘƲǷǘ ƲLJƲ ƲLJƲDZƲǞ ȐNjȊNjȍȗǡश
ǞȚǯȚǶ ǯǽǶȊǽȐǡȐǡ ǯǽǷȗNjȍȊǽǡǷ ॲǗȓȰȍȭǡȣȠȓǷȍȭॳष ǀNjǷȗȚǯ ǶȚȐǡǯ ॲȌȰȦǷǗLjȇ ǭȓȣȌॳष
LJƲǷ ǡDZǶȚ ǞƲȍǶǽǷǡा
bƲǀNjDZ ࡶाࡵ ȓȰȍȭǡȣȠȓǷȍȭ φ͎ǡ ȦȠǡǗǷǡȦ
ǡȍȭȰȅ <ȓȍȭǡȣȠȓǷȍ bǡȌLj BLjȭǡȣǷ bǷLjȠ ǡȍȭȰȅ <ȓȍȭǡȣȠȓǷȍ
ࡲशࡲ ॲUNjȍǘNjȍƲǯƲǷ ȐƲȗȚ ǷǽȗNj LJNjǷǘƲǷ ȐƲȗȚ
NjǷȗȚǯ UNjȍȗƲǶƲ ȍȓȭǡॳ ঃ ǞȗȗȊशॅॅǽȊNjǷǶȚȐǡǁȗǞNjǽȍΘाǁǽǶॅ
ϯȍȐȗ[ȊNjǁǡNjȐाǞȗǶDZ
ࡳशࡲ LJƲǷ ࡴशࡲ ॲUNjȍǘNjȍƲǯƲǷ LJȚƲॅȗǡǘƲ ǷǽȗNj
NjǷȗȚǯ <NjLJȚƲ LJNjǷǘƲǷ ȐƲȗȚ ȍȓȭǡॳ ঃ ǞȗȗȊशॅॅǽȊNjǷǶȚȐǡǁȗǞNjǽঃ
ȍΘाǁǽǶॅȐNjǁǽǷLJ[ȊNjǁǡNjȐाǞȗǶDZ
ࡵशࡲ LJƲǷ ࡷशࡲ ॲUNjȍǘNjȍƲǯƲǷ NjǶȊƲȗॅNjǷƲǶ ǷǽȗNj
NjǷȗȚǯ <NjȗǡǘƲ LJNjǷǘƲǷ ȐƲȗȚ ȍȓȭǡॳ ঃ ǞȗȗȊशॅॅǽȊNjǷǶȚȐǡǁȗǞNjǽঃ
ȍΘाǁǽǶॅȗǞǡȍLJ[ȊNjǁǡNjȐाǞȗǶDZ
[ǡǷǯǽȊƲȐǡ LJƲǷ [ȚȐȊNjǷȐǡ ঃ ǞȗȗȊशॅॅǽȊNjǷǶȚঃ
NjǷȗȚǯ <NjNjǶȊƲȗ
ȐǡǁȗǞNjǽȍΘाǁǽǶॅǗǽȚȍȗǞ[ȊNjǁǡNjȐाǞȗǶDZ
<ǽǷȗNjȍȊǽǡǷ NjǀƲȐ ঃ ǞȗȗȊȐशॅॅΑǡΑƲाȊȍNjȐȐঃ
NjǷȗȚǯ <NjDZǡǶƲ ǀǽǽǯȐाȊȚǀॅǽȊNjǷǶȚȐǡǁȗǞNjǽȍΘॅǁǞƲȊȗNjȍॅ
ϯǗȗǞঃȐȊNjǁǡNjȐঃǁǽȚǷȗNjȍȊǽǡǷȗ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽ

UNjȍƲȗȚȍƲǷ ȚǶȚǶ LJƲȍǡ ǞȚǯȚǶ ǯǽǶȊǽȐǡȐǡ ǯǽǷȗNjȍȊǽǡǷ ΘƲǷǘ ǞƲȍȚȐ


LJǡǞǡǷLJƲȍǯƲǷ LJƲDZƲǶ ǶNjǶǀȚƲȗ ȐȚƲȗȚ ǯƲȍΘƲ ǁǡȊȗƲ ǶȚȐǡǯ ƲLJƲDZƲǞश
ࡲा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ȊƲȍƲDZNjDZ ȰȍǷȦȓȍ ॲUࡲॳष ȊƲȍƲDZNjDZ LJǽǶǡǷƲǷ ॲUࡶॳष LJƲǷ
ȊƲȍƲDZNjDZ ǽǯȗƲǗ ॲUࡹॳा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡲࡴ


ࡳा ,ǡǷLJƲȍǯƲǷ ȊNjȍǘNjȍƲǯƲǷ LJƲȍǡ LJǡǶǡǷǡȐ ࡶ ॲLJࡶश ࡸ ǯƲDZǡ ǬƲȍƲǯ ࡲॅࡳष ǶǡȐƲDZǷΘƲ ȍȓȭǡ
$़ॳ ǯNj ƲȍƲǞ ǬƲȍƲǯ ࡶ ȐNjǶȊȚȍǷƲ ॲƲDZǡ ǬƲȍƲǯ ࡲॅࡳष ǶǡȐƲDZǷΘƲ ȍȓȭǡ %ॳा CǽȗƲȐǡ
LJNjǷǘƲǷ ǡǷȗNjȍΑƲDZ LJǡȐǽǷƲǷ ȗǡLJƲǯ ƲǯƲǷ ȊNjȍǷƲǞ ǶNjǷȚǬȚ ȍNjȐǽDZȚȐǡा
ࡴा ,ǡǷLJƲȍǯƲǷ ȊNjȍǘNjȍƲǯƲǷ ȗǡLJƲǯ DZƲǷǘȐȚǷǘ ƲȗƲȚ ȊNjȍǘNjȍƲǯƲǷ DZƲǷǘȐȚǷǘ LJƲȍǡ
ǷǽȗƲȐǡ ΘƲǷǘ ǀNjȍǬƲȍƲǯ ࡶ LJƲǷ ǽǯȗƲǗा
ࡵा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘȚDZƲǷǘƲǷ LJƲǷ ȊNjȍǘNjȍƲǯƲǷ ȐNjǯȚNjǷȐǡƲDZ ΘƲǷǘ ǀNjȍDZNjǀǡǞƲǷा
ࡶा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ǷǽȗƲȐǡ ΘƲǷǘ ǀNjȍȚDZƲǷǘा
ࡷा ,ǡǷLJƲȍǯƲǷ ȊNjǷNjǶȊƲȗƲǷ ǷǽȗƲȐǡ ǀNjȍǬƲȍƲǯ ǡǷȗNjȍΑƲDZ ࡴ LJƲǷ ࡷ ȐNjǀƲǷΘƲǯ NjǶȊƲȗ
ǯƲDZǡ ǀNjȍȗȚȍȚȗঃȗȚȍȚȗा
ࡸा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ǷǽȗƲȐǡ ΘƲǷǘ ǶNjǷǘǞƲȐǡDZƲǷ ǬƲȍƲǯ ȭȣǷȭȓȍǡ ॲ ঁ $़ॳ
ࡹा ,/ǷLJƲȍǯƲǷ ȊNjǷNjǶȊƲȗƲǷ ǷǽȗƲȐǡ LJƲDZƲǶ ȊǽȐǡȐǡ ȊNjȍǘNjȍƲǯƲǷ ȍȓȭǡ ΘƲǷǘ ȐƲDZǡǷǘ
ǶNjǷΘNjǀNjȍƲǷǘ ॲǗȣȓȦȦǷȍǮॳ ƲȗƲȚ ȐƲDZǡǷǘ ǶNjDZNjǀǡǞǡ ǬƲȍƲǯ ǶƲǯȐǡǶƲDZ ǷǽȗƲȐǡ ȊƲLJƲ
ȐNjȗǡƲȊ ǬNjǷǡȐ ȐȚƲȍƲ ॲȓ͎ǡȣȇLjȠȠǷȍǮॳ LJƲDZƲǶ ȊNjǷΘȚȐȚǷƲǷ ȐȚƲȍƲ [bा
NjǷǘƲǷ ǶNjDZƲǯȚǯƲǷ ȊNjȍƲȗȚȍƲǷঃȊNjȍƲȗȚȍƲǷ LJƲDZƲǶ ȊNjǷǁǡȊȗƲƲǷ ǯƲȍΘƲ
ǯǽǶȊǽȐǡȐǡ ȗNjȍȐNjǀȚȗष LJǡǞƲȍƲȊǯƲǷ ƲǯƲǷ ȗNjȍǁǡȊȗƲ ȐȚƲȗȚ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞा
NjǷȗȚǯ ǶȚȐǡǯ ȐNjǁƲȍƲ ȚǶȚǶ ॲLJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯȐॅDZǡȍǡǯ DZƲǘȚॳ
LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǶNjǷǬƲLJǡ NjǶȊƲȗ ǀNjǷȗȚǯ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
Ʋा /ȗNjȍƲȗǡǗ ॲ/ȭǡȣLjȭǷ͎ǡॳश ȊNjǷǘȚDZƲǷǘƲǷ ȗNjȍȚȐঃǶNjǷNjȍȚȐ ȊƲLJƲ ǗȍƲȐNj ΘƲǷǘ ȐƲǶƲ
ǀा UNjǷǘȚDZƲǷǘƲǷ ॲXǡ͎ǡȣȭǷȍǮॳश ƲLJƲǷΘƲ ȊNjȍǷΘƲȗƲƲǷ ǗȍƲȐNj ǯNjǶǀƲDZǡ ॲǗȍƲȐNj ΘƲǷǘ
ȐƲǶƲ ȐNjȊNjȍȗǡ ȐNjǀNjDZȚǶǷΘƲॳ ȐNjȗNjDZƲǞ ƲLJƲǷΘƲ ǗȍƲȐNj ΘƲǷǘ DZƲǡǷा
ǁा [ȗȍǽϯǯ ॲ[ȭȣȓȠǴǷǗॳश ȊNjǷǘȚDZƲǷǘƲǷ ǯNjǶǀƲDZǡ ǶNjDZǽLJǡ ȐNjǁƲȍƲ ȚȗȚǞॅ ǯNjȐNjDZȚȍȚǞƲǷ
ǶNjDZǽLJǡ ȊƲLJƲ ǀƲǡȗ ΘƲǷǘ DZƲǡǷ LJƲDZƲǶ ȐȚƲȗȚ ǯƲȍΘƲ ȊȚǡȐǡा
LJा UȍǽǘȍNjȐǡǗ ॲUȣȓǮȣǡȦȦǷ͎ǡॳश ȊNjǷǘǘȚǷƲƲǷ ǶNjDZǽLJǡ ΘƲǷǘ ǀƲȍȚ ȐNjǁƲȍƲ ȗNjȍȚȐ
ǶNjǷNjȍȚȐ ࣐ȭǴȣȓȰǮǴ ǗȓȌȠȓȦǡǝॳ
Njा NjǷȗȚǯ ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȊǽDZƲ ǶȚȐǡǯ ǯǽǶȊǽȐǡȐǡ LJƲȊƲȗ
LJǡǯNjDZǽǶȊǽǯǯƲǷ ǶNjǷǬƲLJǡ LJNjDZƲȊƲǷ ǬNjǷǡȐ ǀNjǷȗȚǯ ǶȚȐǡǯा
bƲǀNjDZ ࡶाࡶ :NjǷǡȐঃ:NjǷǡȐ NjǷȗȚǯ BȚȐǡǯ

Cǽा CƲǶƲ NjǷȗȚǯ NjȐǯȍǡȊȐǡ NjǷȗȚǯ UǽDZƲ

ࡲ ǡǷƲȍǡ 

ࡳ bNjȍǷƲȍǡ 

ࡴ XǽǷLJǽ  ƲȗƲȚ 

ࡳࡲࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा CƲǶƲ NjǷȗȚǯ NjȐǯȍǡȊȐǡ NjǷȗȚǯ UǽDZƲ

ࡵ ȍǁǞ 

ࡶ [ȗȍǽϯǯ 

ࡷ bǴȣȓȰǮǴ࣡ǗȓȌȠȓȦǡǝ $स

ǯȐȊǽȐǡȐǡष UNjǷǘNjǶǀƲǷǘƲǷष UNjǷǘȚDZƲǷǘƲǷ


ࡸ [ǽǷƲȗƲ
ॲȣǡǗLjȠǷȭȰȇLjȭǷȓȍॳ

ࡹ bNjǶƲ LJƲǷ ΑƲȍǡƲȐǡ bNjǶƲ LJƲǷ ǀNjǷȗȚǯ ΑƲȍǡƲȐǡ LJƲȍǡ ȗNjǶƲ ƲΒƲDZ
[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

LjǴLjȍ UǡȍǮLj͕LjLjȍ %ȰȣȰ

BȰȦǷȅ ǖLjǝ UǡȣȭǡȍǮLjǴLjȍ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȗqǶΑHǯࡹΝȐǞy
BȰȦǷȅ ǖLjǝ XǡȍLjǷȦȦLjȍǗǡ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǁȚΑ:DZࡱΗǷB
BȰȦǷȅ ǖLjǝ Ljȣȓȅ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ~DZǀǗȐ[ȗǽX[ǘ
BȰȦǷȅ ǖLjǝ ȅȇLjȦǷȅ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰLJǷX:ࡶǷBࡳǶǽࡵ
BȰȦǷȅ ǖLjǝ XȓȌLjȍȭǷȅ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸΑǘǁȚbsDZࡲy
BȰȦǷȅ ǖLjǝ Bȓǝǡȣȍ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ,qȌBǁHेΑǷ
[ǴȓȣȭȦ࢓ =ȓȍǮȦ࢓ Ljȍǝ Ljȍǝ XǴȭǴȌǷǗ BȓȭǷǭ
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰqΗqBƲΘࡵࡲࡺƲe
BȰȦǷȅ ǖLjǝ ߜߛ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰঃঃDZNjƲȚDZXࡵ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡲࡶ


UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ƲȊȍNjȐǡƲȐǡ ǶȚȐǡǯ ǀƲȍƲȗा
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǶȚȐǡǯ ǀƲȍƲȗष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ǀȚǷΘǡ ǶȚȐǡǯा
ࡷा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ
ǁा [ǽȊȍƲǷǽ ȍNjǁǽȍLJNjȍष ƲDZȗǽ ȍNjǁǽȍLJNjȍष ȗNjǷǽȍ ȍNjǁǽȍLJNjȍष LJƲǷ ǀƲȐȐ ȍNjǁǽȍLJNjȍा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjǷȗȚǯঃ
ǀNjǷȗȚǯ ǶȚȐǡǯ ǀƲȍƲȗा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊNjȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ
ǯǽǶȊǽȐǡȐǡ DZǡȍǡǯ LJƲǷ ǶȚȐǡǯ ΑǽǯƲDZष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ
ƲǬƲȍष ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा

ࡳࡲࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǁा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
LJा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ
ǀNjǷȗȚǯॅ ȊǽDZƲ ȊNjǷΘȚȐȚǷƲǷ ȗNjǯȐ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ ȍNjǗNjȍNjǷȐǡा ,ƲDZ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǯƲǡȗƲǷǷΘƲ ƲǯƲǷ DZǡȍǡǯ DZƲǘȚ ȗNjȍǯƲǡȗा UƲLJƲ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ
ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ॲLJNjǷǘƲǷ ȊNjǷNjǯƲǷƲǷ ȚǷȐȚȍ ȍǡȗǶNjॳा
Njा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
Ǟा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj LJƲǷ
ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯा UNjǷǬNjDZƲȐƲǷ ȚǷȐȚȍ ǶȚȐǡǯ ǡǷǡ ȊNjȍDZȚ LJǡǯƲǡȗǯƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯ
LJƲǷ ǘƲΘƲ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ ǶNjǶƲȊƲȍǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZष ȗNjȍǯƲǡȗ ȣLjȍǮǡ ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ
LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॅLJǡǶƲǡǷǯƲǷॳ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ
ॲȭǷȌǖȣǡॳ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǭा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȊNjǶƲǞƲǶƲǷ ȍǡȗǶNj LJNjǷǘƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡴ LJƲǷ ࡵ ǡǷǡ LJƲȊƲȗ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ ǘNjȍƲǯ
ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳा
ǯा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕ा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡲࡸ


DZा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ΑǽǯƲDZ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ƕा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
Ƿा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ
NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ΑǽǯƲDZ LJƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡLJNjǷǘƲȍा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ
ǶNjǷǘƲȊȍNjȐǡƲȐǡǯƲǷ ǯƲȍΘƲ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ
ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ ǶNjǷȚDZǡȐ ǞƲȐǡDZ
ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ȗNjǷȗƲǷǘ ǯƲȍΘƲ ǶȚȐǡǯ
ƲȍƲȗष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ Ǯǡȍȣǡ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǁǽǀƲ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȐNjǁƲȍƲ ǀNjȍȐƲǶƲঃ
ȐƲǶƲ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ΘƲǷǘ LJǡǀNjǷȗȚǯ ǽDZNjǞ ǘȚȍȚा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjDZǡȊȚȗǡश

ࡳࡲࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡲ LJƲǷ ࡳ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡶाࡷ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ
CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
%ȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ


ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ȊNjȍȐƲȗȚƲǷ
ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ %ȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡲࡺ


bƲǀNjDZ ࡶाࡸ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ


UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ

ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ


BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ǀƲȍƲȗ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ǀƲȍƲȗ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ ǯȍǡȗNjȍǡƲ
LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃ
ǶȚȐǡǯ LJNjǷǘƲǷ ƲǷȗȚȐǡƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ %ȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा

bƲǀNjDZ ࡶाࡹ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ


ࡲ ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ


ࡳ ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ


ࡴ ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ࡳࡳࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ
ॲࡲॳ ॲࡳॳ ॲࡴॳ
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ
ࡵ ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǞƲȍǡ ǡǷǡ LJƲȊƲȗ


ࡶ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ DZNjǀǡǞ
ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष ǘȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा BNjǷǁƲȍǡ LJƲǷ ǶNjǷLJNjǷǘƲȍǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ƲȍƲȗ LJƲȍǡ ǀNjȍƲǘƲǶ Ǯǡȍȣǡ LJƲǷ
ǘƲΘƲ ǶȚȐǡǯा
ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡴा BNjǷǁƲȍǡ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ ǀƲȍƲȗ ȐNjȐȚƲǡ LJNjǷǘƲǷ Ǯǡȍȣǡ
LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊǡDZǡǞा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q ǝLjȍ q/

ȐȗNjȗǡǯƲ BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ ȊNjǷǘƲDZƲǶƲǷǷΘƲ
ǶNjǷǘǞƲLJǡȍǡॅǶNjǷǘƲǶƲȗǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ LJƲǷ NjȍƲ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ
LJNjǷǘƲǷ ȐȗƲǷLJƲȍ ǶȚȐǡǯƲDZǡȗƲȐ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ LJƲȍǡ ȊȍǽȐNjȐ ǶȚȐǡǯƲDZǡȐƲȐǡ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJƲȊƲȗ
ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ ȊNjȍǯNjǶǀƲǷǘƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ
ǶNjǷLJȚǯȚǷǘ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡳࡲ


BLjȭǡȣǷ Uȓȅȓȅ
BȚȐǡǯ ǶNjȍȚȊƲǯƲǷ ȐƲDZƲǞ ȐƲȗȚ ǀƲǘǡƲǷ LJƲȍǡ ǀȚLJƲΘƲ ΘƲǷǘ LJǡǶǡDZǡǯǡ ǽDZNjǞ ȐNjȗǡƲȊ
ǽȍƲǷǘ LJǡ LJȚǷǡƲा [NjȗǡƲȊ ǷNjǘƲȍƲ ǶNjǶǡDZǡǯǡ ǀȚLJƲΘƲ LJƲǷ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ ǀNjȍǀNjLJƲঃ
ǀNjLJƲा UNjȍǀNjLJƲƲǷ ǀȚLJƲΘƲ ΘƲǷǘ ƲLJƲ LJǡȊNjǷǘƲȍȚǞǡ ǽDZNjǞ ȍƲȐष ȐȚǯȚष ǀƲǞƲȐƲष ƲLJƲȗঃ
ǡȐȗǡƲLJƲȗष LJƲǷ ǀNjȍƲǘƲǶ ƲȐȊNjǯ ȊNjȍǀNjLJƲƲǷ DZƲǡǷ ΘƲǷǘ ǀNjȍȊNjǷǘƲȍȚǞ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ
ǶƲȚȊȚǷ ȗǡLJƲǯ DZƲǷǘȐȚǷǘ ǯNjȊƲLJƲ ƲȐȊNjǯ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡDZǡǯǡा CǡDZƲǡঃǷǡDZƲǡ NjȐȗNjȗǡǯƲ
LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ǶNjDZǡȊȚȗǡ ǯNjȚǷǡǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯश ǡǷȐȗȍȚǶNjǷȗƲȐǡॅ
ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष DZǡȍǡǯॅǀƲǞƲȐƲ ΘƲǷǘ LJǡǘȚǷƲǯƲǷष ȗȚǬȚƲǷ LJǡǁǡȊȗƲǯƲǷǷΘƲ ǶȚȐǡǯ
ȗNjȍȐNjǀȚȗष ǯƲNjLJƲǞঃǯƲNjLJƲǞ ǀȚLJƲΘƲ LJǡ ȗNjǶȊƲȗ ǶȚȐǡǯ ǡȗȚ ǀNjȍƲȐƲDZष LJƲǷ ȊȍǽȐNjȐ
ȊNjǷǁǡȊȗƲƲǷष ȊNjǷΘƲǬǡƲǷष LJƲǷ NjǯȊȍNjȐǡΑǡȗƲȐ ǀNjȍǶȚȐǡǯा

LjǴLjȍ UǡȍǮLj͕LjLjȍ %ȰȣȰ

<ǡǗLjȠǷ ȦȰȇǷȍǮ [ȰȍǝLj ǝLjȇLjȌ ȠLjȍȓȣLjȌLj LjȇLjȌ


ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰࡸࡱेǞƲ=ࡹࡳࡳǬB
ULjǮLjȍȣLjȍǮ ȰǮǷȦ [ȰȇLj͏ǡȦǷ [ǡȇLjȭLjȍ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǡeNjDZȌǀࡱ<ǘǬW
[ȰȇLj͏ǡȦǷ eȭLjȣLj
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȗǷ$ǀ%ǀƲǞࡹ
[ȰȇLj͏ǡȦǷ eȭLjȣLj࣡$ǡȦȭǷ͎Ljȇ ȍLjȅ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǡeNjDZȌǀࡱ<ǘǬW
[ȰȌLjȭǡȣLj eȭLjȣLj ࣡ $ǡȦȭǷ͎Ljȇ CLjȦǷȓȍLjȇ BȰȦǷȅ bȣLjǝǷȦǷ ȍLjȅ࣡ȍLjȅ ߜߚߛߞ ǖ͕
ߟ BB H
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǡeNjDZȌǀࡱ<ǘǬW
%ȓȍǝLjȍǮ LjȭLjȅ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ/Θ=ǶbΑsࡵs
%LjȌǡȇLjȍ Lj͕Ljȅ
ߡ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ<e<%WࡵȐ,HǷǁ
bȰȂȰǴ XȰȌȠȰȍ ȦȰȅȰ Lj͕Ljȅ
ߢ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΗǬLJǽΒȗCeCࡱ

ࡳࡳࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<LjȇǷȌLjȍȭLjȍ࣡[LjȠǡ
ߣ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰƲǞΑȚΑBȗࡵ[Ȑ
ULjȠȰLj࣡ǷLjȅࢣȌȰȦǷȅ LjȌǖȰ
ߛߚ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰ~ǽȐ~ࡵsǀࡴǶǽB
Ȍǖȓȍ࣡bǷǭLj ȭȓȭȓǖȰLjȍǮ
ߛߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰBȚeȚ%:CࡸW
bLjǴȰȣǷ࣡<ȰȇǷȭ ȅǡȣLjȍǮ
ߛߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǗǁΑȍ%WǀΗyࡹ/
:Lj͏Lj bǡȍǮLjǴ ࣟ %LjȌǡȇLjȍ
ߛߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰs$ȍH:BȊȍΘW
ǗǡǴ
ߛߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȊ%=ȍȗ:ǀƲǷȚࡵ

bLjȣǷ ȦLjȌLjȍ ǗǡǴ


ߛߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΝ%Ʋx:Η$ࡵxȐ

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ

%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ


ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍǯƲǷ ȗNjȍDZNjǀǡǞ LJƲǞȚDZȚ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷष ǶƲȗNjȍǡঃǶƲȗNjȍǡ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚष
ƲȗƲȚȊȚǷ ǀƲǞƲǷঃǀƲǞƲǷ DZƲǡǷǷΘƲ LJǡ DZȚƲȍ ǀȚǯȚ ȊƲǷLJȚƲǷ ǡǷǡ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǀNjȍǡǯƲǷ ॲȍNjǗNjȍNjǷȐǡ ǶNjǷǘƲǬƲȍॳा UNjȍƲDZƲȗƲǷ LJƲǷ
ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΑǽǯƲDZ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ǶȚȐǡǯ ΑǽǯƲDZ
LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍǯƲǡȗा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡳࡴ


ࡷा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ ǁा XNjǁǽȍLJNjȍष ȐȚDZǡǷǘ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ LJा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶȚDZƲǡ
ȊNjǶǀNjDZƲǬƲȍƲǷ LJNjǷǘƲǷ ǀƲǡǯ LJƲǷ ȊNjǷȚǞ ǯǽǷȐNjǷȗȍƲȐǡा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ
LJǡDZƲǯȚǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा
ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ ȊNjǷǘNjȗƲǞȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjǷȗȚǯঃ
ǀNjǷȗȚǯ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊNjȍƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ LJƲDZƲǶ
ǯǽǶȊǽȐǡȐǡ DZǡȍǡǯ LJƲǷ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍष
ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
LJा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ ΑǡLJNjǽ
ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ
ǀNjǷȗȚǯॅ ȊǽDZƲ ȊNjǷΘȚȐȚǷƲǷ ȗNjǯȐ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ȐNjȐȚƲǡ ȍNjǗNjȍNjǷȐǡा ,ƲDZ ǡǷǡ
LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶƲǞƲǶǡ LJƲǷ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯ LJNjǷǘƲǷ ǯƲǡȗƲǷǷΘƲ ƲǯƲǷ DZǡȍǡǯ DZƲǘȚ ȗNjȍǯƲǡȗा UƲLJƲ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ
ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷ ॲLJNjǷǘƲǷ ȊNjǷNjǯƲǷƲǷ ȚǷȐȚȍ ȍǡȗǶNjॳा
Njा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
Ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा

ࡳࡳࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǘा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
Ǟा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
ǡा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ȍǡȗǶNj
LJƲǷ ǶNjDZǽLJǡ LJNjǷǘƲǷ ǁƲȍƲ ǶNjǶȊNjȍLJNjǷǘƲȍǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ LJƲDZƲǶ ǁǽǷȗǽǞ
ǯƲȍΘƲ ǶȚȐǡǯा UNjǷǬNjDZƲȐƲǷ ȚǷȐȚȍ ǶȚȐǡǯ ǡǷǡ ȊNjȍDZȚ LJǡǯƲǡȗǯƲǷ LJNjǷǘƲǷ ǀNjǷȗȚǯ
LJƲǷ ǘƲΘƲ ǀNjȍǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा %ȚȍȚ ǶNjǶƲȊƲȍǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ ǶȚȐǡǯष ȗNjȍǯƲǡȗ ȣLjȍǮǡ ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ
LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॅLJǡǶƲǡǷǯƲǷॳ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ
ॲȭǷȌǖȣǡॳ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ
Ǭा %ȚȍȚ LJƲȊƲȗ ǶNjǷNjȍƲȊǯƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJNjǷǘƲǷ ǶNjǷǘǞȚǀȚǷǘǯƲǷ
ȊNjǶƲǞƲǶƲǷ ȍǡȗǶNj LJNjǷǘƲǷ ǘNjȍƲǯƲǷ ȗȚǀȚǞा UNjȍǶƲǡǷƲǷ ǶȚȐǡǯ ȊƲLJƲ
ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǡǷǡ LJƲȊƲȗ LJǡȐNjȍȗƲǡ LJNjǷǘƲǷ ȊNjǷNjȍƲȊƲǷ ǘNjȍƲǯ
ȐNjLJNjȍǞƲǷƲ LJƲȍǡ ƲǷǘǘǽȗƲ ȗȚǀȚǞ ॲȗƲǷǘƲǷष ǯƲǯǡष LJƲǷ DZƲǡǷঃDZƲǡǷॳा
ǯा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ȗNjǶȊǽष ǯNjȗȚǯƲǷ ǯȚƲȗ
LJƲǷ DZNjǶƲǞ LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ȍǡȗǶNj LJƲǷ ǀǡȍƲǶƲ ǶȚȐǡǯ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕࢚
DZा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ƕा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
Ƿा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ NjǯȐȊȍNjȐǡ
LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡ ǶȚȐǡǯ
ΑǽǯƲDZ LJƲȍǡ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡ ǶȚȐǡǯ ΑǽǯƲDZ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ
LJǡǶƲǡǷǯƲǷ LJƲǷ LJǡȊNjDZƲǬƲȍǡा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡳࡶ


ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǀȚǷΘǡঃǶȚȐǡǯ ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ
ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ
ȚǷȗȚǯ ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷ LJƲǷ
ǶNjǷȚDZǡȐ ǞƲȐǡDZ ȍNjϲNjǯȐǡ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ǯȍǡȗNjȍǡƲ
LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȐNjDZƲǷǬȚȗǷΘƲा
<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ
%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ȗNjǷȗƲǷǘ ǯƲȍΘƲ ǶȚȐǡǯ
ƲȍƲȗष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ Ǯǡȍȣǡ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा UNjȐNjȍȗƲ
LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǁǽǀƲ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ ȐNjǁƲȍƲ ǀNjȍȐƲǶƲঃ
ȐƲǶƲ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ΘƲǷǘ LJǡǀNjǷȗȚǯ ǽDZNjǞ ǘȚȍȚा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjDZǡȊȚȗǡश
Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǀNjȍDZƲǷǘȐȚǷǘा
LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ
ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡶाࡺ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
%ȚȍȚ ȊƲLJƲ ȐƲƲȗ ǶƲȐȚǯ஼
ȐNjLJƲǷǘ LJƲǷ ǶNjǷǡǷǘǘƲDZǯƲǷ
ǯNjDZƲȐ

ࡳࡳࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍLJǽƲ LJNjǷǘƲǷ ǯǞǡLJǶƲȗ
ȐNjȐȚƲǡ LJNjǷǘƲǷ ƲǘƲǶƲ LJƲǷ
ǯNjȊNjȍǁƲΘƲƲǷǷΘƲ ǶƲȐǡǷǘঃ
ǶƲȐǡǷǘ
BNjȍNjϲNjǯȐǡ LJǡȍǡ ȐNjǷLJǡȍǡ
ȗNjȍǯƲǡȗ ȊNjȍǡDZƲǯȚ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡶाࡲࡱ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ
ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃǶȚȐǡǯ
ǀƲȍƲȗ

BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯ ǀƲȍƲȗ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡳࡸ


CƲǶƲ [ƲǷǘƲȗ
Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ Ʋǡǯ ਲ਼ࡶࡶ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ ǯȍǡȗNjȍǡƲ
LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǀȚǷΘǡঃ
ǶȚȐǡǯ LJNjǷǘƲǷ ƲǷȗȚȐǡƲȐ

XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡶाࡲࡲ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि
ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ

ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ

ǷǽȍǶƲঃǷǽȍǶƲि
ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡶ LJƲǷ ࡷ ǞƲȍǡ ǡǷǡ
ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

ࡳࡳࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷा %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा NjȍǶƲǁƲǶঃǶƲǁƲǶ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
ࡳा NjȍǶƲǁƲǶঃǶƲǁƲǶ ǀNjǷȗȚǯ ȊNjǷǘƲȗȚȍƲǷ ǯNjǘǡƲȗƲǷ LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ǡǷȐȗȍȚǶNjǷ
ࡴा UNjǷǘǯǽDZƲǀǽȍƲȐǡƲǷ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ LJNjǷǘƲǷ ǀǡLJƲǷǘঃǀǡLJƲǷǘ ȐNjǷǡ ΘƲǷǘ
DZƲǡǷ ȐNjǁƲȍƲ ǯȍNjƲȗǡǗ LJƲǷ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ q// ǝLjȍ q///

ȊȍNjȐǡƲȐǡ UNjǶNjǷȗƲȐƲǷ <ƲȍΘƲ [NjǷǡ

bȰȂȰLjȍ eȌȰȌ UǡȇLjȂLjȣLjȍ [ǡȍǷ BȰȦǷȅ


ࡲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘǯǽǶȚǷǡǯƲȐǡǯƲǷ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ ȊNjǷǘƲDZƲǶƲǷǷΘƲ
ǶNjǷǘǞƲLJǡȍǡॅǶNjǷǘƲǶƲȗǡ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ ǯǽǷȗNjǯȐ
ǀȚLJƲΘƲ LJƲǷ NjȍƲ ΘƲǷǘ LJƲȊƲȗ LJǡƲȊȍNjȐǡƲȐǡǯƲǷा
ࡳा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǞƲȐǡDZ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷ
LJNjǷǘƲǷ ȐȗƲǷLJƲȍ ǶȚȐǡǯƲDZǡȗƲȐ LJƲǷ ȗNjǯǷǡǯ ǀNjȍǶȚȐǡǯ ΘƲǷǘ ǀƲǡǯा
ࡴा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ ȗȍƲLJǡȐǡा
ࡵा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶƲǞƲǶǡ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ LJƲȍǡ ȊȍǽȐNjȐ ǶȚȐǡǯƲDZǡƲȐǡ
ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ȐNjǷǡा
ࡶा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJƲȊƲȗ
ǀNjȍLJƲǶȊƲǯ ȊƲLJƲ ȊNjȍǯNjǶǀƲǷǘƲǷ ǯƲȍƲǯȗNjȍ LJǡȍǡ ȐNjǷLJǡȍǡष ȐNjȐƲǶƲष LJƲǷ
ǶNjǷLJȚǯȚǷǘ ȊNjȍȐƲȗȚƲǷ LJƲǷ ǯNjȐƲȗȚƲǷ ǀƲǷǘȐƲा
BLjȭǡȣǷ Uȓȅȓȅ
NjǷǘƲǷ ȊNjǶƲǞƲǶƲǷ ΘƲǷǘ LJǡǶǡDZǡǯǡ ȗNjǷȗƲǷǘ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ ǶȚȐǡǯष ȊNjȐNjȍȗƲ
LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ ȚǷȗȚǯ ǶƲǶȊȚ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȐƲǬǡƲǷ ǯƲȍΘƲ
ǶȚȐǡǯ LJNjǷǘƲǷ ȊNjǷNjǯƲǷƲǷ ȊƲLJƲ ȚǷȐȚȍ ǯNjǡǷLJƲǞƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
[NjDZƲǷǬȚȗǷΘƲष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ ȚǷȗȚǯ ǶƲǶȊȚ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǀNjȍǀƲǘƲǡ
ǀNjǷȗȚǯ ǯƲȍΘƲ ǶȚȐǡǯष ǀƲǡǯ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ ƲȍƲȗ ǶƲȚȊȚǷ ǯƲȍΘƲঃǯƲȍΘƲ ǶȚȐǡǯ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡳࡺ


ȗȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjDZǡǞƲȗ LJƲǷ ǶNjȍNjϲNjǯȐǡǯƲǷ ƲȐȊNjǯঃ
ƲȐȊNjǯ ǯNjǡǷLJƲǞƲǷ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ LJƲǷ ȊNjȐƲǷ ΘƲǷǘ ǀNjȍȚȐƲǞƲ LJǡǯǽǶȚǷǡǯƲȐǡǯƲǷ
DZNjΒƲȗ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ Ǯǡȍȣǡ LJƲǷ ǘƲΘƲ LJƲȍǡ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा BNjȍNjǯƲ
LJƲȊƲȗ ǶNjǷǘǞƲȍǘƲǡ ȐNjȗǡƲȊ ǀNjǷȗȚǯ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍष ǶNjǶǡDZǡǯǡ
ǯNjǶƲǶȊȚƲǷ ǽǀȐNjȍΑƲȐǡष LJƲǷ ǯNjȐNjLJǡƲƲǷ ȚǷȗȚǯ ǶNjȍNjϲNjǯȐǡǯƲǷ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȗƲǶȊǡDZǯƲǷा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ
ǶƲǶȊȚ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ ȊNjǶNjǷȗƲȐƲǷ ǯƲȍΘƲ ȐNjǷǡा UNjȍȗȚǷǬȚǯƲǷ
ǯƲȍΘƲঃǯƲȍΘƲ ȐNjǷǡ ǡǷǡ LJƲȊƲȗ ǶNjǷΘƲǬǡǯƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ LJƲǷ ǀNjȍǀƲǘƲǡ
ǀNjǷȗȚǯ ȐƲǬǡƲǷ ȐNjǷǡ DZƲǡǷǷΘƲा UNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ ǡǷǡ LJƲȊƲȗ ǬȚǘƲ ǶNjǷǘNjDZƲǀǽȍƲȐǡǯƲǷ
ǀǡLJƲǷǘঃǀǡLJƲǷǘ ǯNjǡDZǶȚƲǷ ΘƲǷǘ DZƲǡǷष ȗNjȍȚȗƲǶƲ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा
UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǞƲȍƲȊǯƲǷ ǶƲǶȊȚ
ǶNjǶǀNjȍǡǯƲǷ ȍNjȐȊǽǷȐ ȊǽȐǡȗǡǗ LJƲǷ ǶNjǷǘƲȊȍNjȐǡƲȐǡ ȐNjȗǡƲȊ ǯNjǘǡƲȗƲǷ ȊNjǷΘƲǬǡƲǷ
ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡDZǡǞƲȗा UNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ǡǷǡ ȊƲLJƲ ȚǶȚǶǷΘƲ ƲǯƲǷ
ǶNjǷǘǞƲȐǡDZǯƲǷ ȐȚƲȗȚ ȐƲǬǡƲǷ ǶȚȐǡǯ ΘƲǷǘ LJƲȊƲȗ LJǡDZǡǞƲȗ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘष
ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ΑǡȍȗȚƲDZ ǯǽǷȐNjȍ ȐNjȊNjȍȗǡ ͚ȓȓȌ࢓ ͕ȓȰȭȰǖǡ࢓
/ȍȦȭLjǮȣLjȌष LJƲǷ DZƲǡǷঃDZƲǡǷा UNjǷǘƲȊȍNjȐǡƲȐǡƲǷ ΑǡȐȚƲDZ ǡǷǡ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ
ǁƲȍƲ ǶNjǶǀNjȍǡǯƲǷ ǶƲȐȚǯƲǷ ΘƲǷǘ ȊǽȐǡȗǡǗ LJƲǷ ǶNjǶǀƲǷǘȚǷष ǶǡȐƲDZǷΘƲ ȗNjǷȗƲǷǘ
ȊNjǶǡDZǡǞƲǷ ǯǽǷȐȗȚǶष ǗǽȍǶƲȐǡ ǀNjȍǷΘƲǷΘǡष LJƲǷ ǯNjȐNjȍƲǘƲǶƲǷॅǯNjȐNjȐȚƲǡƲǷ LJNjǷǘƲǷ
ȚǷȐȚȍ ǘNjȍƲǯ LJƲǷ ȗƲȍǡा UNjȍǀNjLJƲƲǷ ǀȚLJƲΘƲष ȍƲȐष ȐȚǯȚष ǀƲǞƲȐƲष ƲLJƲȗঃǡȐȗǡƲLJƲȗष LJƲǷ
ǀNjȍƲǘƲǶ ƲȐȊNjǯ ȊNjȍǀNjLJƲƲǷ ǡǷǡ ȐƲǷǘƲȗ ǀNjȍȊNjǷǘƲȍȚǞ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ ǶƲȚȊȚǷ
ȗǡLJƲǯ DZƲǷǘȐȚǷǘ ǯNjȊƲLJƲ ƲȐȊNjǯ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡDZǡǯǡा
LjǴLjȍ UǡȍǮLj͕LjLjȍ %ȰȣȰ

ǡLjȰȭǷǭȰȇ BǡȇȓǝǷǡȦ
ߛ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΒUঃNjࡹΒDZȍeXe
ȇȰǡ BLjȍ %ȣȓȰȠ
ߜ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰȌb:Ǘ/bǗǀyC
[ȭȣǡǡȭ UǡȣǭȓȣȌǡȣȦ
ߝ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰΒǗ<ȐࡴUȍǽBࡸB
,LjȣǷǝ͏ǷȠLj %LjȌǡȇLjȍ %ȣȓȰȠ
ߞ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǀ,ǁΘȍxǬࡵ

ࡳࡴࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


bǷǡȇȌLjȍ ȣȓȭǴǡȣȦ
ߟ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰǶȚ<ǯqȚǗǘǯ
bLjȣǷ XLjȭȓǴ :Ljȣȓǡ
ߠ
ǞȗȗȊȐशॅॅΒΒΒाΘǽȚȗȚǀNjाǁǽǶॅΒƲȗǁǞिΑਰsࡸW=ࡸBࡳLJB

UǡȣȦǷLjȠLjȍ UǡȍǮLjȂLjȣLjȍ
%ȚȍȚ ȊNjȍDZȚ ǶNjǶȊNjȍȐǡƲȊǯƲǷ ǞƲDZঃǞƲDZ ȗNjȍǯƲǡȗ ǀNjDZƲǬƲȍ ǶNjǷǘƲǬƲȍ ƲǘƲȍ ȊNjDZƲǯȐƲǷƲƲǷ
ȊȍǽȐNjȐ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǀNjȍDZƲǷǘȐȚǷǘ LJNjǷǘƲǷ ǀƲǡǯा %ȚȍȚ ǞƲȍȚȐDZƲǞ
ǶNjǷLJNjǷǘƲȍ LJƲǷ ǶNjǶȊNjDZƲǬƲȍǡ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ ΘƲǷǘ LJǡȐNjLJǡƲǯƲǷ LJƲDZƲǶ
ǀȚǯȚ ȊƲǷLJȚƲǷ ȊƲLJƲ ǀƲǘǡƲǷ ȊNjǷǘƲΘƲƲǷ ǘȚȍȚा [NjDZƲǡǷ ǡȗȚष ǘȚȍȚ ǬȚǘƲ LJƲȊƲȗ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ LJƲǷ ǶNjǶǡDZǡǞ ǁǽǷȗǽǞ ǶƲȗNjȍǡ LJǡ DZȚƲȍ LJƲȍǡ ǶƲȗNjȍǡ ΘƲǷǘ ȐȚLJƲǞ
LJǡȐNjLJǡƲǯƲǷ ȊƲLJƲ ǀȚǯȚ ȊƲǷLJȚƲǷ ǘȚȍȚ ǡǷǡा UNjȍƲDZƲȗƲǷ LJƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǞƲȍȚȐ LJǡȊNjȍȐǡƲȊǯƲǷ ƲǷȗƲȍƲ DZƲǡǷश
ࡲा =ƲȊȗǽȊ
ࡳा DZƲȗ ǀƲǷȗȚ ƲȚLJǡǽ ॲȦȠǡLjȅǡȣॳ
ࡴा = UȣȓȂǡǗȭȓȣ
ࡵा BUࡴ ƲȗƲȚ ΑǡLJNjǽ ǁǽǷȗǽǞঃǁǽǷȗǽǞ DZƲǘȚ DZƲǡǷǷΘƲ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ
ǶƲȗNjȍǡ ȊNjǶǀNjDZƲǬƲȍƲǷष ΘƲǡȗȚ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ΑǽǯƲDZ
ࡶा %ƲǶǀƲȍ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष ȚǷȗȚǯ ǶNjǷLJȚǯȚǷǘ
ȊNjǶƲǞƲǶƲǷ ǀNjȍȊǡǯǡȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ ƲǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ǶȚȐǡǯ ΑǽǯƲDZ
LJƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍǯƲǡȗा
ࡷा /ǷȐȗȍȚǶNjǷ ǶȚȐǡǯष ǁǽǷȗǽǞǷΘƲश
Ʋा ǡǽDZƲष ǀǡǽDZƲ ƲDZȗǽष ǁNjDZDZǽष ǁǽǷȗȍƲ ǀƲȐȐ
ǀा eǯȚDZNjDZNjष ǘǡȗƲȍ
ǁा [ǽȊȍƲǷǽ ȍNjǁǽȍLJNjȍष ƲDZȗǽ ȍNjǁǽȍLJNjȍष ȗNjǷǽȍ ȍNjǁǽȍLJNjȍष LJƲǷ ǀƲȐȐ ȍNjǁǽȍLJNjȍा
LJा LJƲǷ DZƲǡǷঃDZƲǡǷ

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ
ߛ࢚ <ǡǮǷLjȭLjȍ UǡȌǖȰȅLj
Ʋा %ȚȍȚ ǶNjǷǘǯǽǷLJǡȐǡǯƲǷ ǯNjDZƲȐ ƲǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjǷȗƲǷǘ NjȐȗNjȗǡǯƲ ǶȚȐǡǯ LJNjǷǘƲǷ ȗƲǷǘǘȚǷǘ ǬƲΒƲǀा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȗȚǬȚƲǷ LJƲǷ ǯNjǘǡƲȗƲǷ ΘƲǷǘ ƲǯƲǷ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǷΘǡƲȊǯƲǷ ȊNjȍƲDZƲȗƲǷ ƲȗƲȚȊȚǷ ǶNjLJǡƲ ȚǷȗȚǯ ǶNjǷǘƲǬƲȍा

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡴࡲ


ߜ࢚ <ǡǮǷLjȭLjȍ /ȍȭǷ
Ʋा %ȚȍȚ ǶNjǷǘǘƲDZǡ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȗNjǷȗƲǷǘ NjȐȗNjȗǡǯƲ ǶȚȐǡǯा
ǀा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ Ǯǡȍȣǡ LJƲǷ ǘƲΘƲ ǶȚȐǡǯ LJƲDZƲǶ ǀNjȍǀƲǘƲǡ
ǀNjǷȗȚǯ ȊNjǷΘƲǬǡƲǷ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍष
ȐNjǀƲǘƲǡ ǁǽǷȗǽǞ ǶƲȗNjȍǡ ΘƲǷǘ LJǡƲǬƲȍǯƲǷा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ǁǽǷȗǽǞ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȐNjǁƲȍƲ DZȚƲȐ ȐNjȐȚƲǡ
LJNjǷǘƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǶȚȐǡǯ ȐNjȊNjȍȗǡ ȊƲLJƲ ǀƲǘǡƲǷ ǶƲȗNjȍǡ LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
LJा %ȚȍȚ ǶNjǶȊNjȍȐǡDZƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷLJNjǷǘƲȍǯƲǷ LJNjǷǘƲǷ
ȐNjǯȐƲǶƲष ȐNjȍȗƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡȊȚȗƲȍǯƲǷा
Njा [ƲƲȗ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯष ǘȚȍȚ ǬȚǘƲ ǶNjǷƲǶȊǡDZǯƲǷ ǘƲǶǀƲȍ ƲȗƲȚȊȚǷ
ΑǡLJNjǽ ΘƲǷǘ ǀNjȍǯƲǡȗƲǷ LJNjǷǘƲǷ ȗNjǶƲ ǯƲȍΘƲ ǶȚȐǡǯǷΘƲष ΘƲǡȗȚ ƲȊȍNjȐǡƲȐǡ
ȊNjǶNjǷȗƲȐƲǷ ǯƲȍΘƲ ȐNjǷǡा ,ƲDZ ǡǷǡ LJǡDZƲǯȚǯƲǷ ȚǷȗȚǯ ǶNjǶȚLJƲǞǯƲǷ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ǶNjǶƲǞƲǶǡ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡा UƲLJƲ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲ ƲȗƲȚ ȊƲLJƲ ȐƲƲȗ ȊNjǶȚȗƲȍƲǷ ǯNjǶǀƲDZǡ ǁǽǷȗǽǞ φȇǡ ǯƲȍΘƲ
ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ ǀȚǯȚ ȊƲǷLJȚƲǷष ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ
ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ȗNjDZƲǞ LJǡȐNjLJǡƲǯƲǷा
Ǘा [NjȗNjDZƲǞ ȊNjǶȚȗƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷƲΘƲǷǘƲǷ ΑǡLJNjǽ ƲȗƲȚȊȚǷ ǘƲǶǀƲȍष
ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲDZƲǶ ǯNjǞǡLJȚȊƲǷ
ȐNjǞƲȍǡঃǞƲȍǡा
ǘा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȊNjȍȗƲǷΘƲƲǷ ȚǷȗȚǯ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ
ǶNjȍNjϲNjǯȐǡǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
Ǟा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǘȚȗƲȍƲǯƲǷ ȊNjǷLJƲȊƲȗǷΘƲ LJƲȍǡ ǞƲȐǡDZ ȍNjϲNjǯȐǡ
LJǡȍǡ ȐNjȗNjDZƲǞ ǶNjǷLJNjǷǘƲȍǯƲǷ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ LJƲǷ ΑǡLJNjǽ ΘƲǷǘ ȐȚLJƲǞ
LJǡȗƲΘƲǷǘǯƲǷा
ǡा %ȚȍȚ ǶNjǶȚȗƲȍ ǯNjǶǀƲDZǡ φȇǡ ǶȚȐǡǯ ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ
ǀȚǯȚ ƲǬƲȍष LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǶǀƲǁƲ ȊƲȍȗǡȗȚȍ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ
LJƲDZƲǶ ǀȚǯȚ ƲǬƲȍा
Ǭा %ȚȍȚ ǶNjǷǬNjDZƲȐǯƲǷ ǶNjǷǘNjǷƲǡ ȚǷȐȚȍ ǶȚȐǡǯ ΘƲǷǘ LJǡǘȚǷƲǯƲǷ LJƲDZƲǶ
ȊNjȍȗȚǷǬȚǯƲǷ ǯƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ ȐNjǁƲȍƲ LjȰǝǷȭȓȣ͕ा
ǯा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ ǶȚȐǡǯ LJƲǷ
NjDZNjǶNjǷঃNjDZNjǶNjǷ ǶȚȐǡǯ ॲǀȚǷΘǡ ǶȚȐǡǯष ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष LJƲǷ DZƲǡǷঃDZƲǡǷॳ LJƲDZƲǶ
ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍा
DZा UNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǷǁǽǀƲ ǶNjǷǘǡLJNjǷȗǡϯǯƲȐǡǯƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ƲLJƲ LJƲDZƲǶ

ࡳࡴࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǁǽǷȗǽǞ ǯƲȍΘƲ ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ LJƲǷ
Ǯǡȍȣǡ ǶȚȐǡǯǷΘƲा
Ƕा UƲLJƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjLJȚƲष ǘȚȍȚ LJƲȊƲȗ ǶNjǷNjǯƲǷǯƲǷ ȚǷȐȚȍ
NjǯȐȊȍNjȐǡ LJƲDZƲǶ ǀNjȍǶȚȐǡǯ ȚǷȗȚǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ ΘƲǷǘ LJǡLJNjǷǘƲȍǯƲǷा
ߝ࢚ <ǡǮǷLjȭLjȍ UǡȍȰȭȰȠ
Ʋा %ȚȍȚ ǶNjǶǀNjȍǡ ƲȊȍNjȐǡƲȐǡ ƲȗƲȐ ȊNjǶƲȊƲȍƲǷ ΘƲǷǘ LJǡȐƲǶȊƲǡǯƲǷ ǽDZNjǞ ȐNjȗǡƲȊ
ȊNjȐNjȍȗƲ LJǡLJǡǯा
ǀा %ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjDZƲǯȚǯƲǷ ȍNjϲNjǯȐǡ ȗNjȍǞƲLJƲȊ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡा
ǁा %ȚȍȚ ǶNjǶǀNjȍǡǯƲǷ ȗȚǘƲȐ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǁƲȍǡ ǁǽǷȗǽǞঃ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ DZƲǡǷ ΘƲǷǘ ǶNjǷǘǘȚǷƲǯƲǷ ǯȍǡȗNjȍǡƲ LJƲǷ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ȐNjȍȚȊƲष ȐNjǞǡǷǘǘƲ ǶNjȍNjǯƲ LJƲȊƲȗ ǶNjȍNjϲNjǯȐǡǯƲǷ LJƲǷ ǶNjǷǘǡǶǡȗƲȐǡǯƲǷ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗा [NjȗNjDZƲǞ ǡȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJǡǶǡǷȗƲ ȚǷȗȚǯ
ǶNjǷǘȚǶȊȚDZǯƲǷ ǁǽǷȗǽǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲǷ ǶNjǷȚDZǡȐ
ǞƲȐǡDZ ȍNjϲNjǯȐǡ ΘƲǷǘ LJǡDZƲǯȚǯƲǷा bȚǘƲȐ LJǡǯȚǶȊȚDZǯƲǷ ȊƲLJƲ ȊNjǶǀNjDZƲǬƲȍƲǷ
ȐNjDZƲǷǬȚȗǷΘƲा

<ǡǮǷLjȭLjȍ UǡȌǖǡȇLjȂLjȣLjȍ ȇȭǡȣȍLjȭǷǭ


%ȚȍȚ LJƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȐƲDZǡǷǘ ǀNjȍǀƲǘǡ ȊNjǷǘƲDZƲǶƲǷ ȗNjǷȗƲǷǘ ȊNjȍȗȚǷǬȚǯƲǷ
ȐNjǷǡ ΘƲǷǘ ȊNjȍǷƲǞ LJǡDZǡǞƲȗा UNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ǶNjǷǁǽǀƲ ǶNjǶǀȚƲȗ ǯǽǷȐNjȊ
ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡॅ ǶȚȐǡǯ ȐNjǁƲȍƲ ǀNjȍȐƲǶƲঃȐƲǶƲ LJƲDZƲǶ ǯNjDZǽǶȊǽǯ ǯNjȍǬƲ ΘƲǷǘ
LJǡǀNjǷȗȚǯ ǽDZNjǞ ǘȚȍȚा

UǡȍǷȇLjǷLjȍ
UNjǷǡDZƲǡƲǷ LJǡDZƲǯȐƲǷƲǯƲǷ ȐNjǁƲȍƲ ȐǡȐȗNjǶƲȗǡȐ ȊƲLJƲ ȐNjDZȚȍȚǞ ƲǯȗǡΑǡȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ
ॲǯNjǘǡƲȗƲǷ ȊNjǶǀȚǯƲ஼ ǯNjǘǡƲȗƲǷ ǡǷȗǡ஼ ǶƲȚȊȚǷ ǯNjǘǡƲȗƲǷ ȊNjǷȚȗȚȊॳा [NjDZƲǡǷ ǡȗȚ஼
ȊNjǷǡDZƲǡƲǷ ǬȚǘƲ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ǶNjǶȊNjȍǞƲȗǡǯƲǷ ǯNjȗNjȍǁƲȊƲǡƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ஼
ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷष ȐǡǯƲȊ ȐȊǡȍǡȗȚƲDZ LJƲǷ ȐǽȐǡƲDZ஼ ȐNjȍȗƲ ƲȐȊNjǯ ǯNjȗNjȍƲǶȊǡDZƲǷा
HDZNjǞ ǯƲȍNjǷƲǷΘƲ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ LJǡ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ȊNjǶǀNjDZƲǬƲȍƲǷ ǡǷǡ ǶNjDZǡȊȚȗǡश

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡴࡴ


Lj࢚ UǡȍǷȇLjǷLjȍ [ǷȅLjȠ
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ ΘƲǷǘ
LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ȐǡǯƲȊ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ ǶNjDZǡǞƲȗ
ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ǶNjǷȚǷǬȚǯǯƲǷ ȐǡǯƲȊ LJƲǷ ȊNjȍǡDZƲǯȚ LJƲDZƲǶ
ǶNjǷǬƲǘƲ ǯNjȚȗȚǞƲǷ C<X/ LJǡ ǯNjǞǡLJȚȊƲǷ ȐNjǞƲȍǡঃǞƲȍǡा LJƲȊȚǷ ȊNjLJǽǶƲǷ
ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡶाࡲࡳ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ [ǡǯƲȊ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ
ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ
NjȍȐǡǯƲȊ ǶNjǷǘǞǽȍǶƲȗǡ
ǽȍƲǷǘ DZƲǡǷ LJƲDZƲǶ ǯNjǘǡƲȗƲǷ
ǀNjȍǶȚȐǡǯ
BNjǷǘǞƲȍǘƲǡ ȊNjȍǀNjLJƲƲǷ
ǀȚLJƲΘƲ LJƲǷ ȐNjDZNjȍƲ ǶȚȐǡǯ
ǽȍƲǷǘ DZƲǡǷ
[ǡǯƲȊ ȐƲDZǡǷǘ ǶNjǶǀƲǷȗȚ
LJƲǷ ǀNjǯNjȍǬƲ ȐƲǶƲ LJƲDZƲǶ
ǀNjȍǶȚȐǡǯ
NjȍȊNjȍǡDZƲǯȚ ǀƲǡǯ LJƲDZƲǶ
ǀNjȍȊNjǷLJƲȊƲȗ LJƲǷ
ǀNjȍǯǽǶȚǷǡǯƲȐǡ ȐNjǀƲǘƲǡ
ȍNjϲNjǯȐǡ LJǡȍǡ LJƲDZƲǶ ǶNjǷǬƲǘƲ
ȊNjȍȐƲȗȚƲǷ ȐNjǀƲǘƲǡ ǀNjǷȗȚǯ
ȐΘȚǯȚȍ ǯNjȊƲLJƲ bȚǞƲǷ
yƲǷǘ BƲǞƲ ȐƲ ƲȗƲȐ
ǯNjǀNjȍƲǘƲǶƲǷ ΘƲǷǘ ƲLJƲ LJǡ
C<X/

ࡳࡴࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ǖ࢚ UǡȍǷȇLjǷLjȍ <ǡȭǡȣLjȌȠǷȇLjȍ
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ ǶNjDZƲDZȚǡ ȊNjǷǘƲǶƲȗƲǷ ॲǽǀȐNjȍΑƲȐǡॳ
ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ȐNjDZƲǶƲ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǀNjȍDZƲǷǘȐȚǷǘा
UNjǷǡDZƲǡƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ ǡǷǡ LJǡDZƲǯȚǯƲǷ LJNjǷǘƲǷ ȗȚǬȚƲǷ ƲǘƲȍ ǘȚȍȚ ǶƲǶȊȚ
ǶNjDZǡǞƲȗ ǯNjǶƲǶȊȚƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ
ǀNjȍǶƲǡǷ ǶȚȐǡǯ ȐNjLJNjȍǞƲǷƲा LJƲȊȚǷ ȊNjLJǽǶƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷ ǽDZNjǞ ǘȚȍȚ ƲLJƲDZƲǞ ȐNjǀƲǘƲǡ ǀNjȍǡǯȚȗश
bƲǀNjDZ ࡶाࡲࡴ UNjLJǽǶƲǷ UNjǷǡDZƲǡƲǷ ȐȊNjǯ <NjȗNjȍƲǶȊǡDZƲǷ

CƲǶƲ [ƲǷǘƲȗ <ȚȍƲǷǘ


Ʋǡǯ ȚǯȚȊ <ȚȍƲǷǘ
UNjȐNjȍȗƲ <ȍǡȗNjȍǡƲ Ʋǡǯ Ʋǡǯ
ࡸࡶঃࡹࡵ ࡷࡶঃࡸࡵ ࡶࡶঃࡷࡵ
ǡLJǡǯ ࡹࡶঃࡲࡱࡱ ਲ਼ࡶࡶ

ॲࡲॳ ॲࡳॳ ॲࡴॳ ॲࡵॳ ॲࡶॳ ॲࡷॳ ॲࡸॳ


BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ǀNjȍLJƲȐƲȍǯƲǷ Ǯǡȍȣǡ
ǶȚȐǡǯ ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ
BNjǶǡDZǡǯǡ ȊNjǶƲǞƲǶƲǷ
ƲǯƲǷ ǀNjǷȗȚǯ ȐȗȍȚǯȗȚȍ
LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ

BNjǶƲǞƲǶǡ ƲȐȊNjǯঃƲȐȊNjǯ
ǯNjǡǷLJƲǞƲǷ LJƲȍǡ ǶȚȐǡǯ
ȗȍƲLJǡȐǡǽǷƲDZ /ǷLJǽǷNjȐǡƲ
ΘƲǷǘ LJǡȊNjDZƲǬƲȍǡ

BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
ȗNjǷȗƲǷǘ NjǯȐȊDZǽȍƲȐǡ
ǀNjȍǀƲǘƲǡ ǀNjǷȗȚǯ
ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ȚǷȗȚǯ ǶȚȐǡǯ ƲȍƲȗ
LJNjǷǘƲǷ ȚȐƲǞƲ ǯNjȍƲȐ
BNjǷǘNjȍǬƲǯƲǷ ȗȚǘƲȐ
NjǯȐȊDZǽȍƲȐǡ ǀNjȍǀƲǘƲǡ
ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ
ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ
/ǷLJǽǷNjȐǡƲ LJNjǷǘƲǷ ȚȐƲǞƲ
ǯNjȍƲȐ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡴࡶ


XǡχǡȅȦǷ %ȰȣȰ

XNjϲNjǯȐǡ ǘȚȍȚ ǶNjȍȚȊƲǯƲǷ ȊNjǷǡDZƲǡƲǷ ΘƲǷǘ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ǘȚȍȚ ǡȗȚ ȐNjǷLJǡȍǡ
ΘƲǷǘ ƲȗƲȐ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ȗNjDZƲǞ LJǡDZƲǯȐƲǷƲǯƲǷ ǶȚDZƲǡ LJƲȍǡ ȊȍǽȐNjȐ ȊNjȍȐǡƲȊƲǷ஼
ȊNjDZƲǯȐƲǷƲƲǷ ǞǡǷǘǘƲ ȊȍǽȐNjȐ NjΑƲDZȚƲȐǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷा XNjϲNjǯȐǡ ǘȚȍȚ ǡǷǡ
ǀNjȍȗȚǬȚƲǷ ǶNjǷǡDZƲǡ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ǯNjDZNjǀǡǞƲǷ LJƲȍǡ ǯNjǘǡƲȗƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ
ΘƲǷǘ ǯNjǶȚLJǡƲǷ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ǀƲǞƲǷ NjΑƲDZȚƲȐǡ ȚǷȗȚǯ ȊNjǶǀNjDZƲǬƲȍƲǷ
ǀNjȍǡǯȚȗǷΘƲा
bƲǀNjDZ ࡶाࡲࡵ UNjLJǽǶƲǷ XNjϲNjǯȐǡ %ȚȍȚ

Cǽा UNjȍȗƲǷΘƲƲǷ XNjϲNjǯȐǡ


ॲࡲॳ ॲࡳॳ ॲࡴॳ

ȊƲǯƲǞ ȊNjǶǡDZǡǞƲǷ ǶNjLJǡƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗNjDZƲǞ



ǶNjǷǁNjȍǶǡǷǯƲǷ ȗȚǬȚƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ƲǯƲǷ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ǘƲΘƲ ȊNjǷΘƲǶȊƲǡƲǷ ǶƲȗNjȍǡ ǶƲǶȊȚ LJǡȗƲǷǘǯƲȊ



ǽDZNjǞ ȊNjǶƲǞƲǶƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯि

ȊƲǯƲǞ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ



ǶƲǯǷƲ ȊNjǶǀNjDZƲǬƲȍƲǷ ΘƲǷǘ ǞNjǷLJƲǯ LJǡǁƲȊƲǡि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ȗǡLJƲǯ ǯNjDZȚƲȍ LJƲȍǡ



ǷǽȍǶƲঃǷǽȍǶƲि

ȊƲǯƲǞ ȊNjDZƲǯȐƲǷƲƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ࡸ LJƲǷ ࡹ ǞƲȍǡ ǡǷǡ


ࡶ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ ȐNjǶƲǷǘƲȗ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ
ȚǷȗȚǯ DZNjǀǡǞ ƲǷȗȚȐǡƲȐ LJƲDZƲǶ ȊNjǶǀNjDZƲǬƲȍƲǷ ȐNjDZƲǷǬȚȗǷΘƲि

UǡȍǮLj͕LjLjȍ ǝLjȍ bȰǮLjȦ [ǡȇLjȍȂȰȭȍ͕Lj

ǘƲȍ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ DZNjǀǡǞ ǶNjǶƲǞƲǶǡ ǶƲǯȐȚLJ LJƲǷ ȗȚǬȚƲǷष %ȚȍȚ LJƲȊƲȗ
ǶNjǷǘƲȍƲǞǯƲǷ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǶǀƲǁƲ LJƲǷ ǀNjȍDZƲȗǡǞ ǶƲȗNjȍǡ ΘƲǷǘ
LJǡǀNjȍǡǯƲǷष ΘƲǡȗȚश
ࡲा BNjǷǘNjǯȐȊDZǽȍƲȐǡ ǀNjȍƲǘƲǶ ǀNjǷȗȚǯ ȊNjȍȗȚǷǬȚǯƲǷ ȐNjǷǡ

ࡳࡴࡷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡳा bNjǯǷǡǯঃȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯ LJNjǷǘƲǷ ǯȍNjƲȗǡǗ LJƲǷ ǡǷǽΑƲȗǡǗ
ࡴा NjȍNjǯȐȊNjȍǡǶNjǷ LJƲDZƲǶ ǶNjǶǀȚƲȗ ǯǽǷȐNjȊঃǯǽǷȐNjȊ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ
ΘƲǷǘ ǶNjǷƲȍǡǯ ȐNjȐȚƲǡ LJNjǷǘƲǷ ǘƲΘƲ LJƲǷ Ǯǡȍȣǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǶǡǷƲȗǡा

eȂǷ <ȓȌȠǡȭǡȍȦǷ

ࡲा [NjǀȚȗǯƲǷ ࡵ ƲȐȊNjǯ NjȐȗNjȗǡǯƲ LJƲDZƲǶ ǶȚȐǡǯह


ࡳा ȊƲ ǗȚǷǘȐǡ ǶȚȐǡǯ ΑǽǯƲDZ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ NjȐȗNjȗǡǯƲि
ࡴा ȊƲ ǗȚǷǘȐǡ ǡǷȐȗȍȚǶNjǷ LJƲDZƲǶ ǯNjȗNjȍǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ NjȐȗNjȗǡǯƲि
ࡵा [NjǀȚȗǯƲǷ ࡵ ǯNjȐƲȗȚƲǷ ȚǷȐȚȍ ǶȚȐǡǯ LJƲDZƲǶ NjȐȗNjȗǡǯƲ ǀȚǷΘǡ ǶȚȐǡǯह
ࡶा [NjǀȚȗǯƲǷ ࡵ ǀNjǷȗȚǯ ǶȚȐǡǯ ȐNjǁƲȍƲ ȚǶȚǶष LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯȐॅ
DZǡȍǡǯ DZƲǘȚह
ࡷा ȊƲ ǷƲǶƲ ǀNjǷȗȚǯ LJNjȐǯȍǡȊȐǡ ȊǽDZƲ ि
ࡸा ȊƲ ȐƲǬƲ ǯNjȚǷǡǯƲǷ ǷǡDZƲǡ NjȐȗNjȗǡǯƲ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZि
ࡹा :NjDZƲȐǯƲǷ ȊNjȍƲȗȚȍƲǷ ȚǶȚǶ ǞȚǯȚǶ ǯǽǶȊǽȐǡȐǡ ǯǽǷȗNjȍȊǽǡǷह
ࡺा :NjDZƲȐǯƲǷ ǶNjǷǘƲȊƲ ȐNjǀȚƲǞ ǯƲȍΘƲ LJǡǯƲȗƲǯƲǷ ǡǷLJƲǞह
ࡲࡱा ƲDZƲǶ ǶNjǷƲǶȊǡDZǯƲǷ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯष ȐNjǁƲȍƲ ȚǶȚǶ ǀǡȐƲ
LJǡDZƲǯȚǯƲǷ ࡳ ǁƲȍƲष ΘƲǡȗȚााा

eȍȭȰȅ LjǴLjȍ UǡȍǮLj͕LjLjȍ ǝLjȍ


XǡǭǡȣǡȍȦǷ =LjǷȍ࢓ [ǗLjȍ WX
ȓǝǡ ǝǷǖLj͏LjǴ ǷȍǷ࢒

%ƲǶǀƲȍ ࡶाࡲ WX ȓǝǡ eǷǡȗ ࡶ


[ȚǶǀNjȍश ,NjǷȍΘ [ȚȐƲǷȗǽ UȍƲǷǽȗǽष ࡳࡱࡳࡱ

eǷǡȗ ࡶ ঃ ȊȍNjȐǡƲȐǡ BȚȐǡǯ ࡳࡴࡸ


UǡȍȰȭȰȠ

UƲLJƲ ǀƲǘǡƲǷ ƲǯǞǡȍ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ BȚȐǡǯ [Bॅ[B< <NjDZƲȐ x ǡǷǡष
ȗǡǶ ȊNjǷȚDZǡȐ ǀNjȍǞƲȍƲȊ ǀƲǞΒƲ ȊƲȍƲ ǘȚȍȚ LJƲȊƲȗ ǶNjǷƲǶǀƲǞ ΒƲΒƲȐƲǷ LJƲǷ
ǶNjDZNjǷǘǯƲȊǡ ǶƲȗNjȍǡঃǶƲȗNjȍǡ ƲǬƲȍ ǶȚȐǡǯ LJƲȍǡ ȐȚǶǀNjȍঃȐȚǶǀNjȍ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ
LJǡǘȚǷƲǯƲǷा [ȚǶǀNjȍঃȐȚǶǀNjȍ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ LJǡȊǡDZǡǞ LJƲȊƲȗ ǀNjȍȚȊƲ ǀƲǞƲǷ ƲǬƲȍ
ȐNjǁƲȍƲ ȓωǷȍǡ ॲǀȚǯȚঃǀȚǯȚ ǶȚȐǡǯष ǶǽLJȚDZ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯष LJƲǷ DZƲǡǷঃDZƲǡǷॳ
LJƲǷ ȓȍȇǷȍǡ ॲyǽȚȗȚǀNjष ǀDZǽǘ ǶȚȐǡǯष LJƲǷ ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ ǽǷDZǡǷNj DZƲǡǷǷΘƲॳा
NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȊNjǶǀNjDZƲǬƲȍƲǷ ǶȚȐǡǯ LJǡ ǯNjDZƲȐ x ǡǷǡ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ
ǶNjǶȊNjȍȐǡƲȊǯƲǷ ȊƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ ȚǷȗȚǯ ǶNjǷǬƲLJǡ ȊNjDZƲǯȚ LJƲǷ ȊNjǁǡǷȗƲ ȐNjǷǡ
ǶȚȐǡǯ ΘƲǷǘ ǀNjȍǯǽǶȊNjǷȗNjǷ LJƲǷ ǞƲǷLJƲDZा
UƲȍƲ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲȊƲȗ ȗNjȍȚȐ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯNjȗNjȍƲǶȊǡDZƲǷ LJƲȐƲȍ
࣐Ȧȓǭȭ ȦȅǷȇȇȦॳ ǀNjȍǶȚȐǡǯ LJƲǷ ǶNjǷǘNjǶǀƲǷǘǯƲǷ ǯNjǶƲǶȊȚƲǷ ǀNjȍǶȚȐǡǯ ȐNjǁƲȍƲ
ȗNjȍȚȐঃǶNjǷNjȍȚȐ ॲȇǷǭǡȇȓȍǮ ȌȰȦǷǗLjȇ ȇǡLjȣȍǷȍǮॳा BNjDZƲDZƲȚǡ ȊȍǽȐNjȐ ȊNjǷLJǡLJǡǯƲǷ
ȊNjǷǘƲDZƲǶƲǷ ॲφȣȦȭǴLjȍǝ ȌȰȦǷǗLjȇ ǡ͔ȠǡȣǷǡȍǗǡॳष ǘȚȍȚ LJƲȊƲȗ ǶNjǶǀNjȍǡǯƲǷ
ȊNjǷǘƲǬƲȍƲǷ LJƲǷ ǶNjǶǀNjȍǡǯƲǷ ȊNjǷǘƲDZƲǶƲǷ ȊNjǷǘƲǬƲȍƲǷ ǶȚȐǡǯ ǯNjȊƲLJƲ ȊNjȐNjȍȗƲ
LJǡLJǡǯ ȐNjǁƲȍƲ ȊǽȐǡȗǡǗ LJƲǷ ǀNjȍLJƲǶȊƲǯा UNjǷǘƲǬƲȍƲǷ ǶȚȐǡǯ LJƲǷ ȊNjǷǘƲDZƲǶƲǷ
ǶȚȐǡǯ ȗNjȍȐNjǀȚȗ LJƲȊƲȗ ǶNjǶǀƲǷȗȚ ȊNjȐNjȍȗƲ LJǡLJǡǯ ǶNjǶǀNjǷȗȚǯ LJƲǷ ǶNjǶǀƲǷǘȚǷ
ǯNjȊȍǡǀƲLJǡƲǷ ΘƲǷǘ ȊǽȐǡȗǡǗष ȐNjȍȗƲ ǀNjȍঃǯNjǀǞǡǷNjǯƲƲǷ ǘDZǽǀƲDZ ΘƲǷǘ ȐNjȐȚƲǡ LJNjǷǘƲǷ
ee ࡲࡺࡵࡶ LJƲǷ UƲǷǁƲȐǡDZƲ ȐNjǀƲǘƲǡǶƲǷƲ ȗNjȍȗNjȍƲ LJƲDZƲǶ UȍǽϯDZ UNjDZƲǬƲȍ UƲǷǁƲȐǡDZƲा
NjǷǘƲǷ ȊNjǷǘƲǬƲȍƲǷ ȗNjȍȐNjǀȚȗष ࡶঃȚǷǡȗ ȊNjǶǀNjDZƲǬƲȍƲǷ ॲǯȐȊDZǽȍƲȐǡ ȚǷΘǡ LJƲDZƲǶ
BȚȐǡǯष ǯȐȊDZǽȍƲȐǡ NjǷȗȚǯ [ȗȍȚǯȗȚȍ LJƲǷ %ǡȍȣǡ BȚȐǡǯष BNjǷǁǡȊȗƲǯƲǷ BȚȐǡǯ
[NjLJNjȍǞƲǷƲष BƲǷƲǬNjǶNjǷ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯष LJƲǷ ȊȍNjȐǡƲȐǡ BȚȐǡǯॳ LJƲȊƲȗ
ǶNjǶǀNjȍǡǯƲǷ ǀNjǯƲDZ ΘƲǷǘ ǁȚǯȚȊ ǀƲǘǡ ȊNjȐNjȍȗƲ LJǡLJǡǯ LJƲDZƲǶ ȊNjǷǘNjǷƲDZƲǷ LJƲǷ
ȊNjǷǘƲDZƲǶƲǷ ǶNjȍNjǯƲ ǀNjDZƲǬƲȍ ǶȚȐǡǯा
ǯǞǡȍ ǯƲȗƲष ȗǡǶ ȊNjǷȚDZǡȐ ǶNjǶǽǞǽǷ ǶƲƲǗ ƲȗƲȐ ȐNjǘƲDZƲ ǯNjǯȚȍƲǷǘƲǷ LJƲǷ ȐNjȗǡƲȊ
ǯNjȐƲDZƲǞƲǷ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ΘƲǷǘ ȗNjȍǬƲLJǡ ȊƲLJƲ ȊNjǷȚDZǡȐƲǷ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ
BȚȐǡǯ [Bॅ[B< <NjDZƲȐ xा [NjDZƲǡǷ ǡȗȚष ȗǡǶ ȊNjǷȚDZǡȐ ǬȚǘƲ ǶNjǷǘȚǁƲȊǯƲǷ ǀƲǷΘƲǯ
ȗNjȍǡǶƲ ǯƲȐǡǞ ǯNjȊƲLJƲ ȐNjȗǡƲȊ ȊǡǞƲǯ ΘƲǷǘ ȗNjȍDZǡǀƲȗ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ ǶƲȚȊȚǷ ȗǡLJƲǯ
ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ ȐNjDZƲǶƲ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ǀȚǯȚ ǡǷǡा
[NjDZƲǷǬȚȗǷΘƲष ȗǡǶ ȊNjǷȚDZǡȐ ǀNjȍǞƲȍƲȊ ƲǘƲȍ ǀȚǯȚ ǡǷǡ LJƲȊƲȗ ǀNjȍǶƲǷǗƲƲƲȗ LJƲǷ ǀNjȍঃ
ǘȚǷƲ ǀƲǘǡ ȐNjȗǡƲȊ ǽȍƲǷǘ ΘƲǷǘ ǶNjǶǀƲǁƲ LJƲǷ ǶNjǷǘǘȚǷƲǯƲǷ ǀȚǯȚ ȊƲǷLJȚƲǷ
ǶȚȐǡǯ LJƲDZƲǶ ǶNjǷǘƲǬƲȍ ǶȚȐǡǯ LJǡ ǯNjDZƲȐ xा

bǡǶ UNjǷȚDZǡȐ

ࡳࡴࡹ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


<ȰȍǗǷ :Lj͏LjǖLjȍ

eȍǷȭ ߛ
ࡲा :NjǷǡȐঃǬNjǷǡȐ ƲDZƲȗ ǶȚȐǡǯ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǯNj LJƲDZƲǶ ǯƲȗNjǘǽȍǡ LjǡȣȓȠǴȓȍǡ
ॲ[ƲDZȚƲǷǘष [NjȍȚDZǡǷǘष [ƲȍȚǷƲǡष UƲȍNjȍNjȗष $ǽΘ ǽƲष bȍǡȗǽǷॳष ǷǝǷȓȠǴȓȍǡ
ॲǷǘǯDZȚǷǘष <ǽDZǡǷȗƲǷǘष %ǽǷǘष [ƲȍǽǷष ǽǷƲǷǘॳष ǗǴȓȣǝȓȠǴȓȍǡ ॲ%ƲǶǀȚȐष
[ƲȐƲǷLJǽष :ƲȊNjǷष ,ƲȐƲȊǡष <NjȐǽष bNjǞΘƲǷॳष ȌǡȌǖȣLjȍȓȠǴȓȍǡ ॲXƲȊƲǡष
%NjLJǽǶǀƲǯष ǽDZDZष <NjǷLJǞƲǷǘष bǡǗƲॳा
ࡳा ǡǶƲǡǷǯƲǷ LJNjǷǘƲǷ ǁƲȍƲ LJǡȊNjȗǡǯ
ࡴा ǽȗǽDZ ǯƲǁƲष ǀǽȗǽDZ ȊDZƲȐȗǡǯष NjǶǀNjȍ ǀNjȐƲȍॅǯNjǁǡDZष ǘƲDZǽǷ Ʋǡȍष ȊƲǷǁǡष ΒƲǬƲǷष
ȐNjȍƲǷǘǯƲǡƲǷ ǯȚǷǁǡष ȊǽȗǽǷǘƲǷ ȊƲȍƲDZǽǷ LJǡƲǶNjȗNjȍ ࡴঃࡵ ǡǷǁǡष LJƲǷ ȊNjȍƲDZƲȗƲǷঃ
ȊNjȍƲDZƲȗƲǷ DZƲǡǷ ΘƲǷǘ LJƲȊƲȗ ǬȚǘƲ LJǡǬƲLJǡǯƲǷ ȐNjǀƲǘƲǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ǶȚȐǡǯा
ߞ࢚ ȇǡǗȭȣȓȠǴȓȍǡ ƲLJƲDZƲǞ ƲDZƲȗ ǶȚȐǡǯ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ȐȚǶǀNjȍ ǀȚǷΘǡ ΘƲǷǘ ǀNjȍƲȐƲDZ
LJƲȍǡ ǯǽǶȊǽǷNjǷ NjDZNjǯȗȍǡǯ ΘƲǷǘ ƲLJƲ LJǡ LJƲDZƲǶ ƲDZƲȗ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ǁǽǷȗǽǞǷΘƲ
ǯNjΘǀǽƲȍLJ Ȧ͕ȍȭǴǡȦǷ͚ǡȣष ǶǡLJǡ Ǘȓȍȭȣȓȇȇǡȣष LJƲǷ DZƲǡǷঃDZƲǡǷा
ࡶा DZƲȗ ǶȚȐǡǯ bǡǗƲ ǀNjȍƲȐƲDZ LJƲȍǡ LJƲNjȍƲǞ UƲȊȚƲ
ࡷा %ǽǷǘष [ƲȍǽǷष LJƲǷ ǽǷƲǷǘा
ࡸा Ʋा =ƲǶǀƲȗश ǷLJƲǷȗNj ঁ ȐNjȊNjȍȗǡ ǯNjǁNjȊƲȗƲǷ ǀNjȍǬƲDZƲǷ ǯƲǯǡ ॲࡸࡷঃࡲࡱࡹ UBॳ
ǀा [NjLJƲǷǘश BǽLJNjȍƲȗǽ ॲࡲࡱࡹঃࡲࡳࡱ UBॳ
ǁा NjȊƲȗश DZDZNjǘȍǽ ॲࡲࡳࡱঃࡲࡶࡷ UBॳ
ࡹा :ƲȍƲǯ ࡲ ࡲ ࣾ ࡲ ࡲ ࡲ ࣾ ǶNjȍȚȊƲǯƲǷ ǬƲȍƲǯ LJǡƲȗǽǷǡDZ ǷƲLJƲ ȚǷȗȚǯ ȗƲǷǘǘƲ ǷƲLJƲ
BƲΘǽȍ
ࡺा /ȍƲǶƲ ॲȍǡȗǶNjष ȗNjǶȊǽष ǯNjȗȚǯƲǷॳष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJǡǷƲǶǡǯƲष NjǯȐȊȍNjȐǡ
ǶȚȐǡǯष LJƲǷ DZƲǡǷঃDZƲǡǷा
ࡲࡱा yƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ ȚǷȐȚȍ ȍǡȗǶNj ƲLJƲDZƲǞ ȗNjǶȊǽष ǯNjȗȚǯƲǷष ȗƲǷLJƲ ǀǡȍƲǶƲष
LJƲǷ ȐǡǷǯǽȊƲȐǡा

eȍǷȭ ߜ
ࡲा LJƲ ࡵ ǶƲǁƲǶ ǯƲLJNjǷȐƲ ȐNjǁƲȍƲ ȚǶȚǶा
ࡳा ȚȗNjǷȗǡǯ <ƲLJNjǷȐƲ ॲȰȭǴǡȍȭǷǗ LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ ȐNjȗNjǷǘƲǞ ॲ,Ljȇǭ
LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ UDZƲǘƲDZ ॲUȇLjǮLjȇ LjǝǡȍǗǡॳष <ƲLJNjǷȐƲ LJNjȐNjȊȗǡǗ ॲǡǗǡȠȭǷ͎ǡ
LjǝǡȍǗǡॳा
ࡴा <ǽǶȊǽǷNjǷঃǯǽǶȊǽǷNjǷ LJƲDZƲǶ ȐȗȍȚǯȗȚȍ ǶȚȐǡǯ ǶNjDZǡȊȚȗǡ ǗȍƲȐƲष ǶǽȗǡǗष
ȗNjǶƲष LJƲǷ ǯƲLJNjǷȐƲा

<ȚǷǁǡ :ƲΒƲǀƲǷ ࡳࡴࡺ


ࡵा ǽǷȗǽǞ LJƲȍǡ Ǯǡȍȣǡ BȚȐǡǯश
ঃ BȚȐǡǯ ǯDZƲȐǡǯष
ঃ BȚȐǡǯ <ǽǷȗNjǶȊǽȍNjȍ
ঃ BȚȐǡǯ bȍƲLJǡȐǡǽǷƲDZ
ࡶा <DZƲȐǡǯ ǶȚȐǡǯ ǀƲȍƲȗ ǀNjȍLJƲȐƲȍǯƲǷ ΝƲǶƲǷǷΘƲ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǶNjǷǬƲLJǡ
ΝƲǶƲǷ UNjȍȗNjǷǘƲǞƲǷ ॲBǡǝǷǡ͎Ljȇ ȠǡȣǷȓǝॳष ΝƲǶƲǷ XNjǷƲǡȐƲǷȐ ॲXǡȍLjǷȦȦLjȍǗǡॳष
Ʋȍǽǯ ॲLjȣȓȢȰǡॳष <DZƲȐǡǯ ॲȇLjȦȦǷǗLjȇॳष XǽǶƲǷȗǡǯ ॲXȓȌLjȍȭǷǗॳष ǀƲLJ ǯNjঃࡳࡱ
ॲBȓǝǡȣȍॳष LJƲǷ ǀƲLJ ǯNjঃࡳࡲा
ࡷा ǽǷȗǽǞ ǶȚȐǡǯ ǯǽǷȗNjǶȊǽȍNjȍश ȊǽȊष ȍǽǁǯष ǬƲΝΝष ǀDZȚNjȐष ȍઝǀष ǞǡȊ ǞǽȊष LJƲǷ
DZƲǡǷঃDZƲǡǷा
ࡸा BȚȐǡǯ ǯNjȍǽǷǁǽǷǘष LJƲǷǘLJȚȗष ǘƲǶǀȚȐ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ Ǯǡȍȣǡ ǶȚȐǡǯ ǷǽǷঃ
ȗȍƲLJǡȐǡǽǷƲDZा ,ƲDZ ǡǷǡ LJǡǯƲȍNjǷƲǯƲǷ ȊNjȍǯNjǶǀƲǷǘƲǷ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ΘƲǷǘ
ȗNjDZƲǞ ǀNjȍǁƲǶȊȚȍ LJNjǷǘƲǷ ǀȚLJƲΘƲ ΘƲǷǘ DZƲǡǷष ǶNjǶǀNjǷȗȚǯ Ǯǡȍȣǡ ǶȚȐǡǯ
ΘƲǷǘ ǀƲȍȚ ΘƲǡȗȚ Ǯǡȍȣǡ ǶȚȐǡǯ ǷǽǷঃȗȍƲLJǡȐǡǽǷƲDZा
ࡹा :ȚǶDZƲǞ ƲǷǘǘǽȗƲ LJƲDZƲǶ ǗǽȍǶƲȐǡ ǯΒƲȍȗNjȗ ƲLJƲDZƲǞ ࡵ ǽȍƲǷǘा
ࡺा yƲǷǘ ȗNjȍǶƲȐȚǯ LJƲDZƲǶ Ǯǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZश ॲॳ %ƲǶNjDZƲǷष %ƲǶǀƲǷǘ
<ȍǽǶǽǷǘष [NjǷƲǷLJȚǷǘ :ǽDZǽष [ƲȐƲǷLJǽ %ǽǷǘा
ࡲࡱा %ƲǶǀƲȍ %ƲǶǀƲǷǘ <ȍǽǶǽǷǘ ঁ %ǡȍȣǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZा

eȍǷȭ ߝ
ࡲा <ǽǷȐNjȊ LJƲȐƲȍ ǶNjǷǁǡȊȗƲǯƲǷ ǯƲȍΘƲ ǶȚȐǡǯ LJǡǶȚDZƲǡ LJNjǷǘǷƲ ǡLJNjॅǘƲǘƲȐƲǷ
ǯNjǶȚLJǡƲǷ LJǡDZƲǷǬȚȗǯƲǷ LJNjǷǘƲǷ ȊȍǽȐNjȐ ȊNjǷȚDZǡȐƲǷ ǶƲȗNjȍǡ LJƲǷ ǡLJNj ǯǽǶȊǽȐǡȐǡ
ΘƲǷǘ LJǡȗȚDZǡȐǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ LJǽǯȚǶNjǷȗƲȐǡ ǯƲȍΘƲ ǶȚȐǡǯा
ࡳा <ƲȍΘƲ bȚDZǡȐष <ƲȍΘƲ [NjǷǡष <ǽǶȊǽȐǡȐǡ BȚȐǡǯष <ƲȍΘƲ ȚLJǡǽ qǡȐȚƲDZष LJƲǷ
<ƲȍΘƲ ȍƲǶƲ LJƲǷ <ǽȍNjǽǘȍƲϯा
ࡴा eǷLJƲǷǘঃȚǷLJƲǷǘ ǷǽǶǽȍ ࡳࡹष ࡳࡱࡲࡵ ȗNjǷȗƲǷǘ ,Ʋǯ ǡȊȗƲ ॲ,</ॳा
ࡵा =ƲǘȚ ॲǶȚȐǡǯ LJƲǷ ȗNjǯȐॳष ǯƲȍΘƲ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷष LJƲǷ ƲȍƲǷȐNjǶNjǷ DZƲǘȚा
ࡶा UǽDZƲ ȍǡǶƲ LJƲDZƲǶ ȊNjǷǁǡȊȗƲƲǷ DZǡȍǡǯ DZƲǘȚष ǀNjȍLJƲȐƲȍǯƲǷ ǗǽȍǶƲȗ
ȊNjǷΘȚȐȚǷƲǷǷΘƲश ष ष ष ष LJƲǷ ǯȍǽȐȗǡǯा
ࡷा <ƲȍƲǯȗNjȍǡȐȗǡǯ ȐȚƲȍƲ ΘƲǷǘ ȚȗƲǶƲ ΘƲǡȗȚश ȣLjȍǮǡ ǷƲLJƲ ॲǬƲȍƲǯ ǷƲLJƲ ȗNjȍNjǷLJƲǞ
LJƲǷ ǷƲLJƲ ȗNjȍȗǡǷǘǘǡ ΘƲǷǘ LJƲȊƲȗ LJǡǞƲȐǡDZǯƲǷॳ LJƲǷ ΒƲȍǷƲ ǷƲLJƲ ॲȭǷȌǖȣǡॳा
ࡸा CƲǶƲ ǬNjǷǡȐ ȐȚƲȍƲ ΒƲǷǡȗƲ ȗNjȍȗǡǷǘǘǡश [ǽȊȍƲǷ ॲ[ǽȊȍƲǷ <ǽDZǽȗȚȍƲ =ǡȍǡǯॳ LJƲǷ
ȗNjȍNjǷLJƲǞश <ǽǷȗȍƲDZȗǽ ॲ<ǽǷȗȍƲDZȗǽ ȍƲǶƲȗǡǯॳ

ࡳࡵࡱ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡹा CƲǶƲ ǬNjǷǡȐ ȐȚƲȍƲ ȊȍǡƲ ȗNjȍȗǡǷǘǘǡश bNjǷǽȍ ॲbNjǷǽȍ =NjǘǘǡNjȍǽॳ LJƲǷ ȗNjȍNjǷLJƲǞश
ƲȐȐ ॲƲȐȐǽ UȍǽǗǽǷLJǽ ȍƲǶƲȗǡǯॳा
ࡺा NjǷȗȚǯ ǗǽȍǶƲȐǡ ȊNjǶȚȐǡǯ ΘƲǷǘ LJǡǘȚǷƲǯƲǷ LJƲȊƲȗ ǀNjȍȚȊƲ ǶNjǷΘƲǷΘǡ
ȗȚǷǘǘƲDZ ॲȐǽDZǽॳ ǶƲȚȊȚǷ ǀNjȍǯNjDZǽǶȊǽǯ ॲLJȚNjȗष ȗȍǡǽष ǯȚƲȍȗNjȗष ǘȍȚȊ ǯNjǁǡDZष
LJƲǷ ǘȍȚȊ ǀNjȐƲȍॳा NjȍLJƲȐƲȍǯƲǷ ǡǷȐȗȍȚǶNjǷ ǶȚȐǡǯǷΘƲष ǗǽȍǶƲȐǡ ȊNjǶȚȐǡǯ
LJƲDZƲǶ ǀNjǷȗȚǯ ǯNjDZǽǶȊǽǯ LJƲȊƲȗ LJǡǯNjDZǽǶȊǽǯǯƲǷ ǶNjǷǬƲLJǡ ǘȍȚȊ ΑǽǯƲDZ
ॲȊƲLJȚƲǷ ȐȚƲȍƲ LJƲǷ ͎ȓǗLjȇ ǮȣȓȰȠॳष LJƲǷ ǘȍȚȊ ǡǷȐȗȍȚǶNjǷ ॲǗǴLjȌǖǡȣ ǶȚȐǡǯ
LJƲǷ ȓȣǗǴǡȦȭȣLj ǶȚȐǡǯॳा
ࡲࡱा XƲȊॅ ȍઝǀ ƲLJƲDZƲǞ ǬNjǷǡȐ ǶȚȐǡǯ LJƲȍǡ Ǯǡȍȣǡ ǯǽǷȗNjǶȊǽȍNjȍ ΘƲǷǘ ȊNjǷΘȚȐȚǷƲǷ
ȍǡǶƲ ǷΘƲ ǀNjǀƲȐा

eȍǷȭ ߞ
ࡲा BƲǷƲǬNjǶNjǷ ǶȚȐǡǯ ȊNjȍȗȚǷǬȚǯƲǷ ƲLJƲDZƲǞ ȐȚƲȗȚ ȊȍǽȐNjȐ ǯNjǘǡƲȗƲǷ LJƲȍǡ
ȊNjȍNjǷǁƲǷƲƲǷ ȐƲǶȊƲǡ ǯNjȊƲLJƲ ȊȍǽȐNjȐ ȊNjDZƲǯȐƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȐNjǁƲȍƲ
ǶNjǷƲȍǡǯ LJƲǷ ǽȊȗǡǶƲDZा
ࡳा =ǡǶƲ ॲࡶॳ ǗȚǷǘȐǡ ȚȗƲǶƲ LJƲȍǡ ǶƲǷƲǬNjǶNjǷ ƲLJƲDZƲǞ UNjȍNjǷǁƲǷƲƲǷ
ॲUȇLjȍǷȍǮॳष UNjǷǘǽȍǘƲǷǡȐƲȐǡƲǷ ॲHȣǮLjȍǷ͚ǷȍǮॳष UNjǷǘƲȍƲǞƲǷ ॲȓȌȌLjȍǝǷȍǮॳष
UNjǷǘǯǽǽȍLJǡǷƲȐǡƲǷ ॲȓȓȣǝǷȍLjȭǷȍǮॳष LJƲǷ UNjǷǘNjǷLJƲDZǡƲǷ ॲȓȍȭȣȓȇȇǷȍǮॳा
ࡴा CƲǶƲ ǬNjǷǡȐ ȐȚƲȍƲ ǶƲǷȚȐǡƲ LJƲDZƲǶ ǬƲȍƲǯ ǷƲLJƲ ǶNjǷΘƲǷΘǡ %ࡳঃࡶ ȚǶȚǶǷΘƲ
LJǡǯNjǷƲDZ LJNjǷǘƲǷ ȐNjǀȚȗƲǷ ƲȐȐा
ࡵा श ǡǽDZƲ ࡲष श ǡǽDZƲ ࡳष श ǡǽDZƲ DZȗǽष श NjDZDZǽष श ǽǷȗȍƲ ƲȐȐा
ࡶा ȚƲ ǽȍƲǷǘश ȚNjȗष bǡǘƲ ǽȍƲǷǘश bȍǡǽष ǶȊƲȗ ǽȍƲǷǘश ǯȚƲȍȗNjȗा
ࡷा NjȍȚȊƲ LJȚǯȚǷǘƲǷ ȐȚǶǀNjȍ LJƲΘƲ ǶƲǷȚȐǡƲॳ ǯNjȊƲǷǡȗǡƲƲǷ ƲȗƲȚ ȊNjǷƲǶȊǡDZॅ
ȊNjȍǗǽȍǶNjȍ LJƲȍǡ ȐNjǀȚƲǞ ȊNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯॳ LJƲǷ LJȚǯȚǷǘƲǷ ǶƲȗNjȍǡॳ LJƲǷƲ
ॲǭȰȍǝǷȍǮॳष ǡΝǡǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷष DZǽǯƲȐǡॅ͎ǡȍȰǡष LJƲǷ ǀNjȍǀƲǘƲǡ ȊȍǽȊNjȍȗǡ
ȊNjǷLJȚǯȚǷǘ ȊNjȍȗȚǷǬȚǯƲǷॳा
ࡸा UȍǽȊǽȐƲDZ [ȊǽǷȐǞǽȍȐǞǡȊष ǶNjȍȚȊƲǯƲǷ ǬNjǷǡȐ ȊȍǽȊǽȐƲDZ ΘƲǷǘ ȐƲǶƲ LJNjǷǘƲǷ
ȊȍǽȊǽȐƲDZ ǡΝǡǷ ǯNjǘǡƲȗƲǷष ǷƲǶȚǷ ΘƲǷǘ ǶNjǶǀNjLJƲǯƲǷ ƲLJƲDZƲǞ ȊƲLJƲ ǀƲǘǡƲǷ
ȊNjǷƲΒƲȍƲǷष LJǡ ǶƲǷƲ ǞƲDZƲǶƲǷ ȊNjǷƲΒƲȍƲǷ ǶNjǶȚƲȗ ȗƲΒƲȍƲǷ ǯNjȍǬƲȐƲǶƲ
ΘƲǷǘ LJǡǀNjȍǡǯƲǷ ȊƲǷǡȗǡƲ ǯNjǘǡƲȗƲǷ ǯNjȊƲLJƲ ȊǡǞƲǯ ȐȊǽǷȐǽȍा [NjLJƲǷǘǯƲǷ
UȍǽȊǽȐƲDZ /ΝǡǷ <NjǘǡƲȗƲǷष ȐNjǁƲȍƲ ȐȊNjȐǡϯǯष ǶNjȍȚȊƲǯƲǷ ȊȍǽȊǽȐƲDZ ΘƲǷǘ
ǶNjǶǡDZǡǯǡ ȗȚǬȚƲǷ ȐNjǀƲǘƲǡ LJǽǯȚǶNjǷ ΘƲǷǘ LJǡƲǬȚǯƲǷ ǯNjȊƲLJƲ ǡǷȐȗƲǷȐǡ ƲȗƲȚ
ȊǡǞƲǯ ΘƲǷǘ ǶNjǶǀNjȍǡǯƲǷ ǯNjΒNjǷƲǷǘƲǷ ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ǯNjǘǡƲȗƲǷा

<ȚǷǁǡ :ƲΒƲǀƲǷ ࡳࡵࡲ


ࡹा <ƲǡLJƲǞ ȊNjǷȚDZǡȐƲǷ ΘƲǷǘ ȊNjȍDZȚ LJǡȊNjȍǞƲȗǡǯƲǷ LJƲDZƲǶ ȊNjǷȚDZǡȐƲǷ ȊȍǽȊǽȐƲDZ
ΘƲǷǘ ǀƲǡǯष ƲǷȗƲȍƲ DZƲǡǷश ǶNjǷǘǘȚǷƲǯƲǷ ǀƲǞƲȐƲ ΘƲǷǘ ǀƲǯȚ LJƲǷ DZȚǘƲȐॄ
ȊNjǷȚDZǡȐƲǷǷΘƲ ȗNjȍȐǡȐȗNjǶƲȗǡȐष ǶNjǷƲȍǡǯ LJƲǷ ȍNjƲDZǡȐȗǡȐॄ LJƲǷ ǶNjǷǘǘȚǷƲǯƲǷ
ǯƲȗƲঃǯƲȗƲ ΘƲǷǘ LJNjǷǽȗƲȗǡǗ ƲȗƲȚ ȊNjǶǀƲǞƲȐƲǷ ǽǀǬNjǯȗǡǗा
ࡺा NjȍǡȐǡश
Ʋा bȚǬȚƲǷ <NjǘǡƲȗƲǷ ॲNjȍǡȐǡ ȗNjǷȗƲǷǘ ȗȚǬȚƲǷ ΘƲǷǘ ǡǷǘǡǷ LJǡǁƲȊƲǡ ǶNjDZƲDZȚǡ
ȊNjǷΘNjDZNjǷǘǘƲȍƲƲǷ ȊNjȍȗȚǷǬȚǯƲǷॳॄ
ǀा CƲǶƲ <NjǘǡƲȗƲǷ ॲNjȍǡȐǡ ǷƲǶƲ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ǶNjǷƲȍǡǯ LJƲǷ
ǶNjȍNjȊȍNjȐNjǷȗƲȐǡǯƲǷ ǯNjȐNjDZȚȍȚǞƲǷ ȊNjȍȗȚǷǬȚǯƲǷॳॄ
ǁा bNjǶƲ <NjǘǡƲȗƲǷ ॲNjȍǡȐǡ ȗNjǶƲ ǀNjȐƲȍ ΘƲǷǘ LJǡȗNjǷȗȚǯƲǷ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷॳॄ
LJा %ƲǶǀƲȍƲǷ <NjǘǡƲȗƲǷ ॲNjȍǡȐǡ ǘƲǶǀƲȍƲǷ ȐNjǁƲȍƲ ȚǶȚǶ ȗNjǷȗƲǷǘ ǯNjǘǡƲȗƲǷ
ΘƲǷǘ ǶNjǷǁƲǯȚȊ ΒƲǯȗȚष ȗNjǶȊƲȗ LJƲǷ ƲȗƲȚ ǀǡǷȗƲǷǘ ȗƲǶȚ ǯǞȚȐȚȐ ΘƲǷǘ
ȗƲǶȊǡDZ LJƲDZƲǶ ȊNjȍȗȚǷǬȚǯƲǷॳॄ
Njा UNjȐNjȍȗƲ <NjǘǡƲȗƲǷ ॲNjȍǡȐǡ ȗƲȍǘNjȗ ȊNjȐNjȍȗƲ LJƲǷ ȊNjǷǽǷȗǽǷ ΘƲǷǘ ǞƲLJǡȍ LJƲDZƲǶ
ȊNjȍȗȚǷǬȚǯƲǷ ǀNjȍȚȊƲ ǬȚǶDZƲǞ ȊNjǷǽǷȗǽǷ LJƲǷ ǀǡȐƲ LJǡDZNjǷǘǯƲȊǡ LJNjǷǘƲǷ
ȍNjǷȗƲǷǘ ȚȐǡƲ ƲȗƲȚ ǯƲȍƲǯȗNjȍǡȐȗǡǯ LJNjǶǽǘȍƲϯॳॄ
Ǘा [ȚȐȚǷƲǷ <NjȊƲǷǡȗǡƲƲǷ ॲNjȍǡȐǡ ȐȚȐȚǷƲǷ ǯNjȊƲǷǡȗǡƲƲǷ ȐNjǁƲȍƲ ȗNjȍȊNjȍǡǷǁǡ ΘƲǷǘ
LJǡDZNjǷǘǯƲȊǡ LJNjǷǘƲǷ ǷƲǶƲष ǀǡǽLJƲȗƲ ȐǡǷǘǯƲȗष LJƲǷ ǬƲǀƲȗƲǷ ƲȗƲȚ ȊNjȍƲǷ LJƲDZƲǶ
ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷॳा
ࡲࡱा UƲLJƲ ǀƲǘǡƲǷ DZƲǶȊǡȍƲǷ ȊȍǽȊǽȐƲDZ LJƲȊƲȗ ǶNjǶȚƲȗश
=ƲǶȊǡȍƲǷ Ǘǽȗǽ ȊȍǽȐNjȐ ΘƲǷǘ ȐȚLJƲǞ LJǡDZƲǯȚǯƲǷ ǽDZNjǞ ȊƲǷǡȗǡƲ ȐNjȊNjȍȗǡ
ȍƲǷǁƲǷǘƲǷ LJNjȐƲǡǷ ȊǽȐȗNjȍष ȊNjȍNjǷǁƲǷƲƲǷ LJNjǯǽȍƲȐǡ DZǽǯƲȐǡ ȊNjȍȗȚǷǬȚǯƲǷष ƲȗƲȚ
Ǘǽȗǽ ǯNjǘǡƲȗƲǷ ȊNjȍȗȚǷǬȚǯƲǷ ΘƲǷǘ ȊNjȍǷƲǞ LJǡDZƲǯȚǯƲǷ ॲǯǞȚȐȚȐ ȊNjȍȗȚǷǬȚǯƲǷ
ΘƲǷǘ ǀNjȍȐǡǗƲȗ ȐNjȍǡƲDZॳा

eȍǷȭ ߟ
ࡲा ȐȊNjǯঃƲȐȊNjǯ NjȐȗNjȗǡǯƲ LJƲDZƲǶ ǶȚȐǡǯष ȐNjȊNjȍȗǡ ǯNjǡǷLJƲǞƲǷ ǀȚǷΘǡঃǶȚȐǡǯ
ॲȐȚƲȍƲॳष ǯNjǡǷLJƲǞƲǷ ǞƲȍǶǽǷǡष ǯNjȗƲǷǘǯƲȐƲǷ ȗNjǯǷǡǯ ǀNjȍǶƲǡǷ ǶȚȐǡǯष
ȊNjǷǘǞƲΘƲȗƲǷ ॲNjǯȐȊȍNjȐǡ ǶȚȐǡǯॳष ȊNjǶƲǞƲǶƲǷ ǯǽǷȗNjǷ ॲǡȐǡ LJƲǷ ȊNjȐƲǷॳष LJƲǷ
ǯNjǡǷLJƲǞƲǷ ȊNjȍȗȚǷǬȚǯƲǷ LJƲDZƲǶ ȊNjǷΘƲǬǡƲǷ ǯƲȍΘƲ ǶȚȐǡǯा
ࡳा $ȚǷǘȐǡ ǶȚȐǡǯ ΑǽǯƲDZ ॲDZƲǘȚॳ ƲLJƲDZƲǞ ǶNjǷǘȚǷǘǯƲȊǯƲǷ NjǶǽȐǡष ȊNjȍƲȐƲƲǷष LJƲǷ
ȊǡǯǡȍƲǷ ȐNjȐNjǽȍƲǷǘ ǯNjȊƲLJƲ ǽȍƲǷǘ DZƲǡǷष ǶNjǷǘǘȚǷƲǯƲǷ DZƲǘȚ ΘƲǷǘ ǶNjȍȚȊƲǯƲǷ
ȍƲǷǘǯƲǡƲǷ DZǡȍǡǯ LJƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ
NjǯȐȊȍNjȐǡॳ LJƲDZƲǶ ȐȚƲȗȚ ǯNjȐƲȗȚƲǷ ΘƲǷǘ ǡǷLJƲǞा

ࡳࡵࡳ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


ࡴा $ȚǷǘȐǡ ǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷ ƲLJƲDZƲǞ ǶNjǷǘȚǷǘǯƲȊǯƲǷ NjǶǽȐǡष ȊNjȍƲȐƲƲǷष LJƲǷ
ȊǡǯǡȍƲǷ ȐNjȐNjǽȍƲǷǘ ǯNjȊƲLJƲ ǽȍƲǷǘ DZƲǡǷष LJƲDZƲǶ ȍƲǷǘǯƲǡƲǷ ǷƲLJƲঃǷƲLJƲ LJƲDZƲǶ
ǯNjȐƲȗȚƲǷ ȚǷȐȚȍঃȚǷȐȚȍ ǶȚȐǡǯ ॲǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष LJƲǷ NjǯȐȊȍNjȐǡॳ
ȚǷȗȚǯ ǶNjǷǘǞƲȐǡDZǯƲǷ ǀȚǷΘǡঃǶȚȐǡǯ ΘƲǷǘ LJǡǡǷǘǡǷǯƲǷा
ࡵा eǷȐȚȍ ǯNjǡǷLJƲǞƲǷ ȚȗƲǶƲ LJƲȍǡ ȐNjǀȚƲǞ ǯƲȍΘƲ ǶȚȐǡǯ ƲLJƲDZƲǞ ǯNjǡǷLJƲǞƲǷ
LJƲDZƲǶ ǀNjǷȗȚǯ ǀȚǷΘǡ ΘƲǷǘ LJǡLJNjǷǘƲȍा <NjǡǷLJƲǞƲǷ ǀȚǷΘǡ ǡǷǡ LJƲȊƲȗ ǀNjȍȚȊƲ
ȚǷȗƲǡƲǷ ǷƲLJƲ ΘƲǷǘ ǶNjǶǀNjǷȗȚǯ ǶNjDZǽLJǡ LJƲǷ ǞƲȍǶǽǷǡ ॲǶȚȐǡǯ ǡǷȐȗȍȚǶNjǷॳ
ƲȗƲȚȊȚǷ ȍƲǷǘǯƲǡƲǷ ǷƲLJƲ LJƲǷ DZǡȍǡǯ ΘƲǷǘ ǶNjǶǀNjǷȗȚǯ ȐNjǀȚƲǞ DZƲǘȚ ॲǶȚȐǡǯ
ΑǽǯƲDZॳा ƲDZƲǶ ȊȍǽȐNjȐ ȊNjǶǀNjǷȗȚǯƲǷ ƲȐȊNjǯ ǯNjǡǷLJƲǞƲǷ ȗNjȍȐNjǀȚȗष ȊƲȍƲ
ǶȚȐǡȐǡ ƲǯƲǷ ǶNjǷǘǽDZƲǞ LJƲǷ ǶNjǷǘǯǽDZƲǀǽȍƲȐǡǯƲǷ ǀNjȍǀƲǘƲǡ ȚǷȐȚȍ ǶȚȐǡǯष
ȐNjȊNjȍȗǡ ǡȍƲǶƲष ǶNjDZǽLJǡष ǞƲȍǶǽǷǡष NjǯȐȊȍNjȐǡष LJǡǷƲǶǡǯƲष ȐNjȍȗƲ ȚǷȐȚȍঃȚǷȐȚȍ
ǶȚȐǡǯ DZƲǡǷǷΘƲष ǶNjǷǬƲLJǡ ȐȚƲȗȚ ȍƲǷǘǯƲǡƲǷ ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ ǡǷLJƲǞा BNjȍNjǯƲ
LJƲȊƲȗ ǶNjǷǘNjǯȐȊȍNjȐǡǯƲǷ NjǶǽȐǡष ȊǡǯǡȍƲǷष LJƲǷ ȊNjȍƲȐƲƲǷ ǞƲȗǡ DZNjΒƲȗ ǀȚǷΘǡঃ
ǀȚǷΘǡ ǶȚȐǡǯ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷा NjǷǘƲǷ LJNjǶǡǯǡƲǷष ȍƲǷǘǯƲǡƲǷ ǀȚǷΘǡ ǶȚȐǡǯ
ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷ ॲȗNjȍǶƲȐȚǯ ΘƲǷǘ ǀNjȍঃDZǡȍǡǯॳ ǶNjȍȚȊƲǯƲǷ ǁNjȍǶǡǷƲǷ LJǡȍǡ LJƲǷ
ǞǡLJȚȊ ȐNjȐNjǽȍƲǷǘ ΘƲǷǘ LJǡǷΘƲȗƲǯƲǷ LJƲDZƲǶ ǀNjǷȗȚǯ ȐǡǶǀǽDZ ǀȚǷΘǡ ǶȚȐǡǯा
ࡶा ǶȊƲȗ ǀNjǷȗȚǯ ǶȚȐǡǯ LJƲDZƲǶ ǯƲǡȗƲǷǷΘƲ LJNjǷǘƲǷ ȗNjǯȐॅDZǡȍǡǯ DZƲǘȚश
Ʋा /ȗNjȍƲȗǡǗ ॲ/ȭǡȣLjȭǷ͎ǡॳश ȊNjǷǘȚDZƲǷǘƲǷ ȗNjȍȚȐঃǶNjǷNjȍȚȐ ȊƲLJƲ ǗȍƲȐNj ΘƲǷǘ ȐƲǶƲ
ǀा UNjǷǘȚDZƲǷǘƲǷ ॲXǡ͎ǡȣȭǷȍǮॳश ƲLJƲǷΘƲ ȊNjȍǷΘƲȗƲƲǷ ǗȍƲȐNj ǯNjǶǀƲDZǡ ॲǗȍƲȐNj ΘƲǷǘ
ȐƲǶƲ ȐNjȊNjȍȗǡ ȐNjǀNjDZȚǶǷΘƲॳ ȐNjȗNjDZƲǞ ƲLJƲǷΘƲ ǗȍƲȐNj ΘƲǷǘ DZƲǡǷा
ǁा [ȗȍǽϯǯ ॲ[ȭȣȓȠǴǷǗॳश ȊNjǷǘȚDZƲǷǘƲǷ ǯNjǶǀƲDZǡ ǶNjDZǽLJǡ ȐNjǁƲȍƲ ȚȗȚǞॅ ǯNjȐNjDZȚȍȚǞƲǷ
ǶNjDZǽLJǡ ȊƲLJƲ ǀƲǡȗ ΘƲǷǘ DZƲǡǷ LJƲDZƲǶ ȐȚƲȗȚ ǯƲȍΘƲ ȊȚǡȐǡा
LJा UȍǽǘȍNjȐǡǗ ॲUȣȓǮȣǡȦȦǷ͎ǡॳश ȊNjǷǘǘȚǷƲƲǷ ǶNjDZǽLJǡ ΘƲǷǘ ǀƲȍȚ ȐNjǁƲȍƲ ȗNjȍȚȐ
ǶNjǷNjȍȚȐ ॲȭǴȣȓȰǮǴ ǗȓȌȠȓȦǡǝॳा
ࡷा CƲǶƲ ǀNjǷȗȚǯ LJNjȐǯȍǡȊȐǡ ȊǽDZƲ  LJǡȐNjǀȚȗ LJNjǷǘƲǷ ȍǁǞा
ࡸा CǡDZƲǡঃǷǡDZƲǡ NjȐȗNjȗǡǯƲ LJƲȍǡ ǶȚȐǡǯ ȗȍƲLJǡȐǡǽǷƲDZ ǶNjDZǡȊȚȗǡ ǯNjȚǷǡǯƲǷ LJƲDZƲǶ
ǀNjǷȗȚǯश ǡǷȐȗȍȚǶNjǷȗƲȐǡॅƲDZƲȗঃƲDZƲȗ ǶȚȐǡǯष DZǡȍǡǯॅǀƲǞƲȐƲ ΘƲǷǘ LJǡǘȚǷƲǯƲǷष
ȗȚǬȚƲǷ LJǡǁǡȊȗƲǯƲǷǷΘƲ ǶȚȐǡǯ ȗNjȍȐNjǀȚȗष ǯƲNjLJƲǞঃǯƲNjLJƲǞ ǀȚLJƲΘƲ LJǡ ȗNjǶȊƲȗ
ǶȚȐǡǯ ǡȗȚ ǀNjȍƲȐƲDZष LJƲǷ ȊȍǽȐNjȐ ȊNjǷǁǡȊȗƲƲǷष ȊNjǷΘƲǬǡƲǷष LJƲǷ NjǯȊȍNjȐǡΑǡȗƲȐ
ǀNjȍǶȚȐǡǯा
ࡹा UNjȍƲȗȚȍƲǷ ȚǶȚǶ LJƲȍǡ ǞȚǯȚǶ ǯǽǶȊǽȐǡȐǡ ǯǽǷȗNjȍȊǽǡǷ ΘƲǷǘ ǞƲȍȚȐ
LJǡǞǡǷLJƲȍǯƲǷ LJƲDZƲǶ ǶNjǶǀȚƲȗ ȐȚƲȗȚ ǯƲȍΘƲ ǁǡȊȗƲ ǶȚȐǡǯ ƲLJƲDZƲǞश
Ʋा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ȊƲȍƲDZNjDZ ȚǷǡȐǽǷ ॲUࡲॳष ȊƲȍƲDZNjDZ LJǽǶǡǷƲǷ ॲUࡶॳष LJƲǷ
ȊƲȍƲDZNjDZ ǽǯȗƲǗ ॲUࡹॳा

<ȚǷǁǡ :ƲΒƲǀƲǷ ࡳࡵࡴ


ǀा ,ǡǷLJƲȍǯƲǷ ȊNjȍǘNjȍƲǯƲǷ LJƲȍǡ LJǡǶǡǷǡȐ ࡶ ॲLJࡶश ࡸ ǯƲDZǡ ǬƲȍƲǯ ࡲॅࡳष ǶǡȐƲDZǷΘƲ ǷǽȗNj
$़ॳ ǯNj ƲȍƲǞ ǬƲȍƲǯ ࡶ ȐNjǶȊȚȍǷƲ ॲUࡶश ࡹ ǯƲDZǡ ǬƲȍƲǯ ࡲॅࡳष ǶǡȐƲDZǷΘƲ ǷǽȗNj %ॳा
CǽȗƲȐǡ LJNjǷǘƲǷ ǡǷȗNjȍΑƲDZ LJǡȐǽǷƲǷ ȗǡLJƲǯ ƲǯƲǷ ȊNjȍǷƲǞ ǶNjǷȚǬȚ ȍNjȐǽDZȚȐǡा
ǁा ,ǡǷLJƲȍǯƲǷ ȊNjȍǘNjȍƲǯƲǷ ȗǡLJƲǯ DZƲǷǘȐȚǷǘ ƲȗƲȚ ȊNjȍǘNjȍƲǯƲǷ DZƲǷǘȐȚǷǘ LJƲȍǡ
ǷǽȗƲȐǡ ΘƲǷǘ ǀNjȍǬƲȍƲǯ ࡶ LJƲǷ ǽǯȗƲǗा
LJा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘȚDZƲǷǘƲǷ LJƲǷ ȊNjȍǘNjȍƲǯƲǷ ȐNjǯȚNjǷȐǡƲDZ ΘƲǷǘ ǀNjȍDZNjǀǡǞƲǷा
Njा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ǷǽȗƲȐǡ ΘƲǷǘ ǀNjȍȚDZƲǷǘा
Ǘा ,ǡǷLJƲȍǯƲǷ ȊNjǷNjǶȊƲȗƲǷ ǷǽȗƲȐǡ ǀNjȍǬƲȍƲǯ ǡǷȗNjȍΑƲDZ ࡴ LJƲǷ ࡷ ȐNjǀƲǷΘƲǯ NjǶƲȊƲȗ
ǯƲDZǡ ǀNjȍȗȚȍȚȗঃȗȚȍȚȗा
ǘा ,ǡǷLJƲȍǯƲǷ ȊNjǷǘǘȚǷƲƲǷ ǷǽȗƲȐǡ ΘƲǷǘ ǶNjǷǘǞƲȐǡDZƲǷ ǬƲȍƲǯ ȗȍǡȗǽǷNj ॲ ঁ $़ॳ
Ǟा ,ǡǷLJƲȍǯƲǷ ȊNjǷNjǶȊƲȗƲǷ ǷǽȗƲȐǡ LJƲDZƲǶ ȊǽȐǡȐǡ ȊNjȍǘNjȍƲǯƲǷ ǷǽȗNj ΘƲǷǘ ȐƲDZǡǷǘ
ǶNjǷΘNjǀNjȍƲǷǘ ॲǗȣȓȦȦǷȍǮॳ ƲȗƲȚ ȐƲDZǡǷǘ ǶNjDZNjǀǡǞǡ ǬƲȍƲǯ ǶƲǯȐǡǶƲDZ ǷǽȗƲȐǡ ȊƲLJƲ
ȐNjȗǡƲȊ ǬNjǷǡȐ ȐȚƲȍƲ ॲȓ͎ǡȣȇLjȠȠǷȍǮॳ LJƲDZƲǶ ȊNjǷΘȚȐȚǷƲǷ ȐȚƲȍƲ [bा
ࡺा [ȚƲȗȚ ǯƲȍΘƲ ǶȚȐǡǯ LJƲȊƲȗ LJǡǯƲȗƲǯƲǷ ǡǷLJƲǞ ǀǡDZƲ ǶNjǶNjǷȚǞǡ ǯƲȍƲǯȗNjȍǡȐȗǡǯ
ǯNjǡǷLJƲǞƲǷ ȐNjǀƲǘƲǡǶƲǷƲ LJǡȗNjȗƲȊǯƲǷ LJƲDZƲǶ ȊȍǡǷȐǡȊঃȊȍǡǷȐǡȊ ǯNjǡǷLJƲǞƲǷ
ΘƲǷǘ ȐȚLJƲǞ LJǡƲȗȚȍ LJƲǷ LJǡȐNjȊƲǯƲȗǡ ȐNjǀƲǘƲǡ ǷǽȍǶƲॅǷǡDZƲǡ ǯNjǡǷLJƲǞƲǷ
ǀNjȍȐƲǶƲा ǡ LJȚǷǡƲ ǀƲȍƲȗष ƲȗȚȍƲǷঃƲȗȚȍƲǷ ΘƲǷǘ ƲLJƲ ƲLJƲDZƲǞ ȐNjȊNjȍȗǡश ǞȚǯȚǶ
ǯǽǶȊǽȐǡȐǡ ǯǽǷȗNjȍȊǽǡǷ ॲǗȓȰȍȭǡȣȠȓǷȍȭॳष ǀNjǷȗȚǯ ǶȚȐǡǯ ॲȌȰȦǷǗLjȇ ǭȓȣȌॳष LJƲǷ
ǡDZǶȚ ǞƲȍǶǽǷǡा
ࡲࡱा UNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ ȊƲLJƲ ȚǶȚǶǷΘƲ LJƲȊƲȗ LJǡȐƲǬǡǯƲǷ ȐNjǁƲȍƲ DZƲǷǘȐȚǷǘ ॲȇǷ͎ǡ
ȠǡȣǭȓȣȌLjȍǗǡॳष ǶƲȚȊȚǷ ǶNjǷǘǘȚǷƲǯƲǷ ǶNjLJǡƲ ΑǡȍȗȚƲDZ ǯǽǷȐNjȍ ॲ͎ǷȣȭȰLjȇ
ȠǡȣǭȓȣȌLjȍǗǡॳ ȐNjȊNjȍȗǡ ͚ȓȓȌ࢓ ͕ȓȰȭȰǖǡ࢓ /ȍȦȭLjǮȣLjȌष LJƲǷ DZƲǡǷঃDZƲǡǷा

ࡳࡵࡵ ȚǯȚ UƲǷLJȚƲǷ %ȚȍȚ [NjǷǡ BȚȐǡǯ ȚǷȗȚǯ [Bॅ[B< <NjDZƲȐ x


LjǭȭLjȣ UȰȦȭLjȅLj

ȚȍǯǞƲȍȗष ा ॲࡲࡺࡺࡵॳा ǷȗǞǽDZǽǘΘ Ǘǽȍ BȚȐǡǁƲDZ ǷƲDZΘȐǡȐ ॲ$ǡǗȗǞॳा sƲLJȐΒǽȍȗǞ


bǞǽǶƲȐ =NjƲȍǷǡǷǘा ǞȗȗȊȐशॅॅLJǽǡाǽȍǘॅࡲࡱाࡳࡴࡱࡸॅࡹࡵࡴࡶࡹࡲ

ȚȍȍNjDZDZष CƲǽǶǡा ƲDZǁȍǽΝNjश Ʋ ȗǽǽDZ Ǘǽȍ ǶȚȐǡǁǡƲǷȐा XNjȗȍǡNjΑNjLJ ǗȍǽǶ


ΒΒΒाǘȍNjNjǷΒǡǁǞǶȚȐǡǁȐǁǞǽǽDZाǽȍǘाȚǯॅǀDZǽǘॅLJƲDZǁȍǽΝNjष ࡳࡱࡳࡱा

ΘƲȍȐष ƲȐȐǡLJǡ ॲࡳࡱࡲࡳॳा ƲLJNjǷǁNjȐा XNjȗȍǡNjΑNjLJ ǗȍǽǶ


ΒΒΒाǗȍNjNjLJȍȚǶDZǡǷNjǶȚȐǡǁाǁǽǶष ࡳࡱࡳࡱा

ǞǡǷǘष =ा ा ॲࡲࡺࡺࡷॳा %ȚǡLJNjDZǡǷNjȐ ǽǷ ȗǞNj /ǷȐȗȍȚǶNjǷȗȐ ǽǗ ȗǞNj HȍǁǞNjȐȗȍƲा


BƲDZƲΘȐǡƲश XǞΘȗǞǶ BU [Cा ,ा

ƲǞDZǞƲȚȐष ƲȍDZ ॲࡲࡺࡹࡺॳा CǡǷNjȗNjNjǷȗǞঃNjǷȗȚȍΘ BȚȐǡǁा ƲDZǡǗǽȍǷǡƲश


eǷǡΑNjȍȐǡȗΘ ǽǗ ƲDZǡǗǽȍǷǡƲ UȍNjȐȐा

ǬǽǞƲǷ ॲࡳࡱࡱࡺॳा BNjȗǽLJNj UNjǷǘƲǬƲȍƲǷ LJƲDZƲǶ ǶȚȐǡǯ ȐNjǷǡ ǘƲǶNjDZƲǷ ΘƲǷǘ


DZNjǀǡǞ ǀNjȍǽȍǡNjǷȗƲȐǡ ȊƲLJƲ ȊNjǷǘǽDZƲǞƲǷȍƲȐƲा UȐǡǯǽDZǽǘǡ BȚȐǡǯा yǽǘΘƲǯƲȍȗƲश
NjȐȗ UȚǀDZǡȐǞNjȍा

DZȚष [ȗNjΑNjा Ʋǡȗ LJƲǷ XǡǶƲ UȚǡȐǡा XNjȗȍǡNjΑNjLJ ǗȍǽǶ


ǞȗȗȊȐशॅॅȐȗNjΑNjƲǘȚȐȗƲȊǽNjǶȐाΒǽȍLJȊȍNjȐȐाǁǽǶष ࡳࡱࡳࡱा

$ƲΘǽDZष ,ा ॲࡳࡱࡲࡴॳा %NjǷNjȍƲDZ ƲǷLJ /ǷLJȚȐȗȍǡƲDZ BƲǷƲǘNjǶNjǷȗा ƲȐȍǗǽȍLJश BƲȍȗǡǷǽ


UȚǀDZǡȐǞǡǷǘा

,ƲΘƲȗǡष Xा ॲࡳࡱࡳࡱष NjȐNjǶǀNjȍ ࡳॳा UNjǷǘNjȍȗǡƲǷ UȍǽȊǽȐƲDZ <NjǘǡƲȗƲǷष :NjǷǡȐष


bȚǬȚƲǷष LJƲǷ ƲȍƲ BNjǶǀȚƲȗǷΘƲा XNjȗȍǡNjΑNjLJ ǗȍǽǶ ȊNjǷNjDZǡȗǡƲǷǡDZǶǡƲǞाǁǽǶश
ǞȗȗȊȐशॅॅȊNjǷNjDZǡȗǡƲǷǡDZǶǡƲǞाǁǽǶॅ ȊȍǽȊǽȐƲDZঃǯNjǘǡƲȗƲǷॅ ़शਸशȗNjΗȗਰUȍǽȊǽȐƲDZ
੄ࡳࡱǯNjǘǡƲȗƲǷ੄ࡳࡱLJǡǀȚƲȗ੄ࡳࡱLJNjǷǘƲǷ੄ࡳࡱȗȚǬȚƲǷषȚǷȗȚǯ੄ࡳࡱ
ǯNjǀNjȍDZƲǷǁƲȍƲ੄ࡳࡱƲǘNjǷLJƲ੄ࡳࡱΘƲǷǘ੄ࡳࡱLJǡȐNjDZNjǷǘǘƲȍƲǯƲǷ

ࡳࡵࡶ
%ȍǽȚȗष৹ǽǷƲDZLJ৹:ा৹ƲǷLJ৹DZƲȚLJNj৹qा৹UƲDZǡȐǁƲ৹ॲࡳࡱࡱࡲॳा৹৹৹,ǡȐȗǽȍΘ৹ǽǗ৹sNjȐȗNjȍǷ৹৹ ৹
৹ BȚȐǡǁा৹৹CNjΒ৹yǽȍǯश৹sा৹sा৹CǽȍȗǽǷ৹ƲǷLJ৹ǽǶȊƲǷΘा

:NjDZDZǡȐǽǷष৹:ा৹ा৹ॲࡳࡱࡱࡱॳा৹,ǽΒ৹ƲǷ৹DZDZ৹UNjǽȊDZNj৹ǽǷȗǡǷȚNj৹ȗǽ৹Nj৹/ǷΑǽDZΑNj৹ǡǷ৹৹ ৹
৹ BNjƲǷǡǷǘǗȚDZ৹BȚȐǡǁ৹UƲȍȗǡǁǡȊƲȗǡǽǷि৹/Ƿ৹ा<ा৹BƲLJȐNjǷ৹LJाॳष৹qǡȐǡǽǷ৹৹ ৹
৹ ࡳࡱࡳࡱश৹ȗǞNj৹,ǽȚȐNjΒȍǡǘǞȗ৹[ΘǶȊǽȐǡȚǶ৹ǽǷ৹ȗǞNj৹$ȚȗȚȍNj৹ǽǗ৹BȚȐǡǁ৹LJȚǁƲȗǡǽǷ৹৹৹
৹ ॲȊȊा৹ࡲࡲࡲঃࡲࡴࡸॳा৹XNjȐȗǽǷष৹qश৹BCा

,ǽϦNjȍष৹ǞƲȍDZNjȐ৹Xा৹ॲࡲࡺࡺࡴॳा৹/ǷȗȍǽLJȚǁȗǡǽǷ৹ȗǽ৹BȚȐǡǁ৹LJȚǁƲȗǡǽǷ৹ॲ[NjǁǽǷLJॳा৹৹
৹ ƲDZǡǗǽȍǷǡƲश৹sƲLJȐΒǽȍȗǞ৹UȚǀDZǡȐǞǡǷǘ৹ǽǶȊƲǷΘा৹

<ǽȐȗǯƲष৹[ȗNjǗƲǷष৹ा৹Uा৹ॲࡲࡺࡹࡷॳा৹bǽǷƲDZ৹,ƲȍǶǽǷΘष৹ΒǡȗǞ৹ƲǷ৹/ǷȗȍǽLJȚǁȗǡǽǷ৹ȗǽ৹৹৹
৹ bΒNjǷȗǡNjȗǞঃNjǷȗȚȍΘ৹BȚȐǡǁा৹/Ƿ৹:ǽȚȍǷƲDZ৹ǽǗ৹BȚȐǡǁ৹bǞNjǽȍΘ৹ॲϯǗȗǞष৹qǽDZा৹ࡴࡱष৹৹
৹ /ȐȐȚNj৹ࡳॳा৹CNjΒ৹yǽȍǯश৹Bǁ%ȍƲΒঃ,ǡDZDZ৹,ǡǘǞNjȍ৹ǽǶȊƲǷǡNjȐा

BǡDZDZNjȍष৹XǡǁǞƲȍLJ৹ॲࡲࡺࡺࡷॳा৹bǞNj৹ȐȗȍȚǁȗȚȍNj৹ǽǗ৹[ǡǷǘǡǷǘश৹[ΘȐȗNjǶ৹ƲǷLJ৹ȍȗ৹ǡǷ৹qǽǁƲDZ৹৹
৹ bNjǁǞǷǡȌȚNjा৹CNjΒ৹yǽȍǯश৹[ǁǞǡȍǶNjȍ৹ǽǽǯȐा৹

CNjǽǷ৹HǷNj৹ॲࡳࡱࡳࡱॳा৹ƲDZǁȍǽΝNj৹[ǽǁǡNjȗΘ৹ǽǗ৹ǶNjȍǡǁƲा৹XNjȗȍǡNjΑNjLJ৹ǗȍǽǶ৹
৹ ΒΒΒाLJƲDZǁȍǽΝNjȚȐƲाǽȍǘा

UȍƲǷǽȗǽष৹,NjǷȍΘ৹[ȚȐƲǷȗǽ৹ॲࡳࡱࡳࡱॳा৹BǽLJȚDZ৹UNjǷǘNjǷƲDZƲǷ৹ƲȐƲȍ৹ȍNjƲȗǡΑNj৹ΑNjǷȗ৹৹
৹ LJƲǷ৹[ȊǽǷȐǽȍȐǞǡȊ৹BƲǷƲǬNjǶNjǷा৹ƲǷLJȚǷǘश৹BNjLJǡƲ৹[ƲǡǷȐ৹/ǷLJǽǷNjȐǡƲा৹

ेेेेे৹ॲࡳࡱࡳࡱॳा৹BǽLJȚDZ৹ƲȐƲȍঃLJƲȐƲȍ৹UNjǷǘNjȗƲǞȚƲǷ৹=NjǘƲDZ৹LJƲǷ৹XNjǘȚDZƲȐǡ৹ǡLJƲǷǘ৹৹
৹ [NjǷǡ৹LJƲǷ৹HDZƲǞȍƲǘƲा৹ƲǷLJȚǷǘश৹BNjLJǡƲ৹[ƲǡǷȐ৹/ǷLJǽǷNjȐǡƲा

ेेेेे৹ॲࡳࡱࡳࡱॳा৹BǽLJȚDZ৹UNjǷǘNjǷƲDZƲǷ৹ƲȐƲȍ৹UȍǽȐNjȐ৹LJƲǷ৹<ǽǷȐNjȊ৹ǡȐǷǡȐ৹[NjǷǡ৹LJƲǷ৹৹
৹ HDZƲǞȍƲǘƲा৹ƲǷLJȚǷǘश৹BNjLJǡƲ৹[ƲǡǷȐ৹/ǷLJǽǷNjȐǡƲा

ेेेेे৹ॲࡳࡱࡳࡱॳा৹BǽLJȚDZ৹UNjǷǘNjǷƲDZƲǷ৹ƲȐƲȍ৹BƲǷǬNjǶNjǷ৹HDZƲǞȍƲǘƲ৹LJƲǷ৹BȚȐǡǯा৹৹
৹ ৹ ƲǷLJȚǷǘश৹BNjLJǡƲ৹[ƲǡǷȐ৹/ǷLJǽǷNjȐǡƲा৹

ࡳࡵࡷ
ेेेेे৹ॲࡳࡱࡳࡱॳा৹ǗNjǯȗǡΑǡȗƲȐ৹/ǷȐȗȍȚǯȐǡ৹%NjȐȗȚȍNj৹CǽǷঃqNjȍǀƲDZ৹LJNjǷǘƲǷ
৹ /ǷȐȗȍȚǯȐǡ৹qNjȍǀƲDZ৹eǷȗȚǯ৹UNjǷǘNjǶǀƲǷǘƲǷ৹NjȍǷΘƲǷΘǡ৹৹UƲLJȚƲǷ৹[ȚƲȍƲा৹৹ ৹
৹ bǽǷǡǯƲ৹ࡴ৹ॲࡲॳश৹ࡷࡳঃࡸࡵष৹BNjǡ৹ࡳࡱࡳࡱा৹ǞȗȗȊȐशॅॅLJǽǡाǽȍǘॅࡲࡱाࡴࡸࡴࡷࡹॅȗǽǷǡǯƲाΑࡴǡࡲ

ेेेेे৹ॲࡳࡱࡲࡴॳा৹[ƲǁȍǡDZNjǘǡǽȚȐ৹ȐȊNjǁȗ৹ǽǗ৹:ƲΑƲǷNjȐNj৹%ƲǶNjDZƲǷश৹ȊƲȐȗ৹ƲǷLJ৹ǗȚȗȚȍNjा৹৹
৹ ৹ ,ƲȍǶǽǷǡƲ৹ࡲࡴ৹ॲࡲॳश৹ࡶࡷঃࡷࡹा

[ȗNjǡǷष৹=ा৹ॲࡲࡺࡷࡳॳा৹ǷȗǞǽDZǽǘΘ৹ǽǗ৹BȚȐǡǁƲDZ৹$ǽȍǶȐा৹CNjΒ৹:NjȍȐNjΘश৹[ȚǶǶΘঃǡȍǁǞƲȍLJ৹
৹ BȚȐǡǁा

ee৹Cǽा৹ࡳࡱ৹ȗƲǞȚǷ৹ࡳࡱࡱࡴ৹[ǡȐȗNjǶ৹UNjǷLJǡLJǡǯƲǷ৹CƲȐǡǽǷƲDZ৹

sǡǷȐDZǽΒष৹XǽǀNjȍȗ৹sाष৹=NjǽǷ৹ƲDZDZǡǷष৹[ǞNjDZDZNjΘ৹ा৹sǡNjȐȗा৹ॲࡳࡱࡱࡲॳा৹BȚȐǡǁ৹[ǯǡDZDZȐ৹
৹ Ǘǽȍ৹DZƲȐȐȍǽǽǶ৹bNjƲǁǞNjȍȐ৹ॲCǡǷȗǞॳाCNjΒ৹yǽȍǯश৹Bǁ%ȍƲΒ৹,ǡDZDZा৹৹৹৹

ࡳࡵࡸ
ǷȓǝLjȭLjॗUǡȍȰȇǷȦ

,NjǷȍΘ৹[ȚȐƲǷȗǽ৹UȍƲǷǽȗǽष৹[ǁा৹ǡǷ৹ǡǀDZNjष৹
ाBȚȐाष৹ BाBȚȐाष৹ UǞााष৹ ǶNjȍȚȊƲǯƲǷ৹
DZȚDZȚȐƲǷ৹ LJƲȍǡ৹ eǷǡΑNjȍȐǡȗƲȐ৹ LJǡ৹ ǶNjȍǡǯƲ৹
ȐNjȊNjȍȗǡ৹ ƲǡȍǷॅ৹ UǞǡDZƲLJNjDZȊǞǡƲ৹ ǡǀDZǡǁƲDZ৹
eǷǡΑNjȍȐǡȗΘ৹ ॲȐȗȍƲȗƲ৹ ࡲॳष৹ sNjȐȗǶǡǷȐȗNjȍ৹
Ǟǽǡȍ৹ǽDZDZNjǘNj৹ঃ৹XǡLJNjȍ৹eǷǡΑNjȍȐǡȗΘ৹ॲȐȗȍƲȗƲ৹
ࡳॳष৹LJƲǷ৹$DZǽȍǡLJƲ৹[ȗƲȗNj৹eǷǡΑNjȍȐǡȗΘ৹ॲȐȗȍƲȗƲ৹
ࡴॳा৹ NjDZǡƲȚ৹ ǬȚǘƲ৹ ǶNjȍȚȊƲǯƲǷ৹ ȊNjǷLJǡȍǡष৹
ȌȰȦǷǗॗ ǝǷȣǡǗȭȓȣष৹ ȐNjȍȗƲ৹ ǯǽǷLJȚǯȗǽȍ৹ LJƲȍǡ৹
[NjǶƲȍƲǷǘ৹ BȚȐǡǁ৹ [ǽǁǡNjȗΘष৹ %ȍƲǁNjǗȚDZ৹
BNjDZǽLJΘ৹ BȚȐǡǁ৹ [ǁǞǽǽDZष৹ LJƲǷ৹ [ȚȍƲǀƲΘƲ৹
BȚȐǡǁ৹eǷǡǽǷा৹[NjDZƲǡǷ৹ǡȗȚ৹ǀNjDZǡƲȚ৹ǬȚǘƲ৹
ȗNjDZƲǞ৹ǀƲǷΘƲǯ৹ƲǯȗǡǗ৹ǶNjǷǬƲLJǡ৹ǬȚȍǡष৹ȊNjDZƲȗǡǞष৹ǯDZǡǷǡȐǡƲǷ৹ǀƲǡǯ৹ȚǷȗȚǯ৹ȊƲLJȚƲǷ৹ȐȚƲȍƲ৹
LJƲǷ৹ ΑǽǯƲDZ৹ ȐǽDZǽष৹ ȌȰȦǷǗॗ ǗȓȌȠȓȦǡȣ৹ LJƲǷ৹ LjȣȣLjȍǮǡȣष৹ ȐNjȍȗƲ৹ ǯǽǷLJȚǯȗǽȍ৹ LJƲDZƲǶ৹
ȍƲǷƲǞ৹ CƲȐǡǽǷƲDZ৹ LJƲǷ৹ /ǷȗNjȍǷƲȐǡǽǷƲDZा৹ NjǀNjȍƲȊƲ৹ ǯNjǡǯȚȗȐNjȍȗƲƲǷǷΘƲ৹ ƲǷȗƲȍƲ৹ DZƲǡǷ৹
U[UXs/৹ CƲȐǡǽǷƲDZ৹ %NjȍNjǬƲΒǡ৹ LJƲǷ৹ U[UXs/৹ CƲȐǡǽǷƲDZ৹ BƲǞƲȐǡȐΒƲष৹
%ȍƲǷLJ৹ UȍǡΗ৹ %B/Bष৹ /ǷȗNjȍǁȚDZȗȚȍNj৹ Ǟǽǡȍ৹ ǽǶȊNjȗǡȗǡǽǷ৹ LJǡ৹ qǡNjȗǷƲǶष৹ LJƲǷ৹
ǶNjȍǡǁƲǷ৹ǞǽȍƲDZ৹ǡȍNjǁȗǽȍ৹ȐȐǽǁǡƲȗǡǽǷ৹ȚǷȗȚǯ৹ȍȚƲǷǘ৹DZǡǷǘǯȚȊ৹ȍNjǘǡǽǷƲDZ৹LJƲǷ৹
ǷƲȐǡǽǷƲDZा৹
[NjDZƲǡǷ৹ȊȍƲǯȗǡȐǡ৹LJǡ৹LJȚǷǡƲ৹ǶȚȐǡǯ৹LJƲǷ৹ȊNjǷLJǡLJǡǯƲǷष৹ȍा৹,NjǷȍΘ৹[ा৹UȍƲǷǽȗǽ৹ȐƲƲȗ৹
ǡǷǡ৹ ǶNjǷǬƲǀƲȗ৹ ȐNjǀƲǘƲǡ৹ <ǽǽȍLJǡǷƲȗǽȍ৹ BƲȗƲ৹ ǯȚDZǡƲǞ৹ /ǷȗNjȍLJǡȐǡȊDZǡǷNjȍ৹ ॲB</ॳ৹ ǯDZȚȐȗNjȍ৹
ȣǡLjȭǷ͎ǡॗ͎ǡȍȭॗBLjȍLjǮǡȌǡȍȭ৹ॲBॳ৹LJƲǷ৹<ǽǽȍLJǡǷƲȗǽȍ৹UNjǶǡǷƲȗƲǷ৹UǡȣǭȓȣȌǷȍǮॗ
ȣȭॗLjȍǝॗ[ȠȓȣȭॗBLjȍLjǮǡȌǡȍȭ৹ॲU[Bॳ৹LJǡ৹eǷǡΑNjȍȐǡȗƲȐ৹ǡȊȚȗȍƲष৹ƲDZƲǶ৹ȊNjǷǘƲǬƲȍƲǷ৹
LJƲǷ৹ ǯǽǷȐNjȊ৹ ǶƲǷƲǬNjǶNjǷ৹ ΘƲǷǘ৹ LJǡȗNjȍƲȊǯƲǷष৹ ǀNjDZǡƲȚ৹ ǶNjǷNjǯƲǷǯƲǷ৹ ȊNjǷǘNjǶǀƲǷǘƲǷ৹
ǯƲȍƲǯȗNjȍ৹LJƲǷ৹ǯNjȊȍǡǀƲLJǡƲǷ৹ǶNjDZƲDZȚǡ৹ǶȚȐǡǯ৹LJƲǷ৹ǽDZƲǞȍƲǘƲ৹ॲǴǡLjȇȭǴ͕ॗȠǴ͕ȦǷǗLjȇॗLjǗȭǷ͎Ƿȭ͕ॳा৹
NjǀNjȍƲȊƲ৹ǀȚǯȚ৹ȚǷȗȚǯ৹ǶǽLJȚDZ৹ȊNjǶǀƲDZƲǬƲȍƲǷ৹LJƲǷ৹ƲȍȗǡǯNjDZ৹LJƲDZƲǶ৹ǬȚȍǷƲDZ৹ǡDZǶǡƲǞ৹ΘƲǷǘ৹
ȊNjȍǷƲǞ৹ LJǡȗȚDZǡȐ৹ ǶNjDZǡȊȚȗǡश৹ UNjǷǘNjǷƲDZƲǷ৹ ƲȐƲȍ৹ BƲǷƲǬNjǶNjǷ৹ HDZƲǞȍƲǘƲ৹ LJƲǷ৹ BȚȐǡǯष৹
UNjǷǘNjǷƲDZƲǷ৹ ƲȐƲȍ৹ UȍǽȐNjȐ৹ LJƲǷ৹ <ǽǷȐNjȊ৹ ǡȐǷǡȐ৹ [NjǷǡ৹ LJƲǷ৹ HDZƲǞȍƲǘƲष৹ ƲȐƲȍঃLJƲȐƲȍ৹
UNjǷǘNjȗƲǞȚƲǷ৹=NjǘƲDZ৹LJƲǷ৹XNjǘȚDZƲȐǡ৹ǡLJƲǷǘ৹[NjǷǡ৹LJƲǷ৹HDZƲǞȍƲǘƲष৹UNjǷǘNjǷƲDZƲǷ৹ƲȐƲȍ৹
ȍNjƲȗǡΑNj৹ΑNjǷȗ৹LJƲǷ৹[ȊǽǷȐǽȍȐǞǡȊ৹BƲǷƲǬNjǶNjǷष৹:ƲΑƲǷNjȐNj৹%ƲǶNjDZƲǷश৹/ȭȦॗǴǷȦȭȓȣ͕ॗLjȍǝॗ
ǷȍχȰǡȍǗǡ৹ॲ:ȚȍǷƲDZ৹/DZǶǡƲǞ৹ [NjǷǡ৹BȚȐǡǯॳष৹[LjǗȣǷȇǡǮǷȓȰȦॗȦȠǡǗȭॗ ȓǭॗ:Lj͎LjȍǡȦǡॗ %LjȌǡȇLjȍ࢒ॗ
ULjȦȭॗLjȍǝॗǭȰȭȰȣǡॗॲ:ȚȍǷƲDZ৹,ƲȍǶǽǷǡƲॳष৹LJƲǷ৹ǗNjǯȗǡϯȗƲȐ৹/ǷȐȗȍȚǯȐǡ৹%NjȐȗȚȍ৹ॲȍȓȍ͎࣡ǡȣǖLjȇॳ৹
LJNjǷǘƲǷ৹/ǷȐȗȍȚǯȐǡ৹ΑNjȍǀƲDZ৹ȚǷȗȚǯ৹UNjǷǘNjǶǀƲǷǘƲǷ৹NjȍǷΘƲǷΘǡ৹UƲLJȚƲǷ৹[ȚƲȍƲ৹ॲ:ȚȍǷƲDZ৹
bǽǷǡǯƲॳा

ࡳࡵࡹ
ǷȓǝLjȭLj UǡȍȰȇǷȦ

ǞȍǡȐȗΘ XƲǞǶƲ [NjȊȗǡƲǷǡष [ा[ǽȐाष ǶNjȍȚȊƲǯƲǷ


DZȚDZȚȐƲǷ $/[/U ঁ /DZǶȚ <ǽǶȚǷǡǯƲȐǡ eǷǡΑNjȍȐǡȗƲȐ
ǡȊǽǷNjǘǽȍǽ ΘƲǷǘ ǶNjǶǡDZǡǯǡ ǯNjȗNjȍȗƲȍǡǯƲǷ LJǡ
LJȚǷǡƲ ȐNjǷǡ ǯǞȚȐȚȐǷΘƲ ΑǽǯƲDZा ,ƲDZ ǡǷǡ LJǡǀȚǯȗǡǯƲǷ
LJNjǷǘƲǷ ǶNjǷǬȚƲȍƲǡ ǀNjȍǀƲǘƲǡ ȊNjȍDZǽǶǀƲƲǷ ΑǽǯƲDZ
LJǡ ȗǡǷǘǯƲȗ ȊȍǽΑǡǷȐǡ LJƲǷ ǷƲȐǡǽǷƲDZा NjDZǡƲȚ ǬȚǘƲ
LJǡȊNjȍǁƲΘƲǡ ǶNjǷǬƲLJǡ ǽǷLJȚǁȗǽȍ UƲLJȚƲǷ [ȚƲȍƲ
ǷƲǯ LJƲDZƲǶ ȊNjȍDZǽǶǀƲƲǷ UNjȐȊƲȍƲΒǡ ࡲࡺࡺࡵा UƲLJƲ
ȗƲǞȚǷ ࡲࡺࡺࡷष ǞȍǡȐȗΘ ǶNjǷǬƲLJǡ ǀƲǘǡƲǷ LJƲȍǡ ǘȍȚȊ
ƲȍȗǡȐ ǁǡDZǡǯ LJNjǷǘƲǷ ǷƲǶƲ bȍǡǽ ǞȍǡȐȗΘा XǡǗȓȣǝǷȍǮ
ƲDZǀȚǶ ƲǷƲǯ ঁ bX/H ,X/[by ΘƲǷǘ ȊǽȊȚDZƲȍ
ǀNjȍǬȚLJȚDZ ƲDZǀȚǶ ঒ǷƲǯ [NjǯǽDZƲǞও LJǡ ǀƲΒƲǞ
ȊNjǷǘNjDZǽDZƲƲǷ </bby XHXा :ƲDZƲǷ ΘƲǷǘ
LJǡȗNjǯȚǷǡ ǡǷǡ ǶNjǶǀƲΒƲǷΘƲ ǶNjǷǬƲLJǡ ȐƲDZƲǞ ȐƲȗȚ CǽǶǡǷƲȐǡ Țǽ ƲȗƲȚ %ȍȚȊ ǷƲǯ
ȊƲLJƲ B/ sX ȗƲǞȚǷ ࡲࡺࡺࡸा
NjǷǘƲǷ ǀNjȍǀƲǘƲǡ ȊNjǷǘƲDZƲǶƲǷ LJƲǷ ȊȍNjȐȗƲȐǡ ΘƲǷǘ LJǡȍƲǡǞ LJǡ ǀǡLJƲǷǘ ǶȚȐǡǯष
ǞȍǡȐȗΘ XƲǞǶƲ [NjȊȗǡƲǷǡ ǶNjǷǬƲLJǡ ȐƲDZƲǞ ȐƲȗȚ ȊNjǷLJǡȍǡ LJƲǷ ȊNjǷǘƲǬƲȍ qǽǯƲDZ LJƲǷ
,ƲǷLJǀNjDZDZ LJǡ %ȣLjǗǡǭȰȇ Bǡȇȓǝ͕ BȰȦǷǗ [ǗǴȓȓȇ [NjǶƲȍƲǷǘ ॲ%BB[[ॳा ǞȍǡȐȗΘष
ȐNjDZƲǷǬȚȗǷΘƲ ǶNjǷǬƲLJǡ ǀƲǘǡƲǷ LJƲDZƲǶ ȗǡǶ ȊNjǷΘȚȐȚǷ ǯȚȍǡǯȚDZȚǶ ǶȚȐǡǯ LJǡ %BB[[ष
ȐNjȍȗƲ ǀNjȍȗƲǷǘǘȚǷǘ ǬƲΒƲǀ ȐNjǀƲǘƲǡ ȣȭǷȦȭǷǗ ǷȣǡǗȭȓȣ [NjǶƲȍƲǷǘ BȰȦǷǗ [ȓǗǷǡȭ͕ ॲ[B[ॳा
UƲLJƲ ȗƲǞȚǷ ࡳࡱࡲࡸष ǞȍǡȐȗΘ ǬȚǘƲ LJǡȊNjȍǁƲΘƲǯƲǷ ǶNjǷǬƲLJǡ ȊNjDZƲȗǡǞ LJƲǷ ǗȓȍǝȰǗȭȓȣ
[NjǶƲȍƲǷǘ ǴǷȇǝȣǡȍ ǴȓǷȣ ΘƲǷǘ ǶNjȍƲǡǞ %ǽDZLJ BNjLJƲDZ <ƲȍƲǷǘȗȚȍǡ /ȍȭǡȣȍLjȭǷȓȍLjȇ
ǴȓǷȣ %LjȌǡȦा [NjDZƲǡǷ ǶȚȐǡǯष ǞȍǡȐȗΘ ǬȚǘƲ ƲǯȗǡǗ ȐNjǀƲǘƲǡ ȊNjǷƲȍǡ ȗȍƲLJǡȐǡǽǷƲDZ :ƲΒƲ LJƲǷ
ȐNjǶȊƲȗ ǶNjǷLJƲȊƲȗ ȚǷLJƲǷǘƲǷ ǶNjǷǘƲǬƲȍ ȗƲȍǡ ȗȍƲLJǡȐǡǽǷƲDZ :ƲΒƲ LJƲDZƲǶ ƲǁƲȍƲ sȓȣȇǝ
ȰȇȭȰȣǡ BȰȦǷǗ Ljȍǝ LjȍǗǡ LJǡ bƲΘDZǽȍ eǷǡΑNjȍȐǡȗΘष e[ा

ࡳࡵࡺ
ǷȓǝLjȭLj UǡȍǡȇLjLjǴ

CƲǶƲ =NjǷǘǯƲȊ श /ΒƲǷ ȚLJǡ [ƲǷȗǽȐǽष [ा[Ƿाष Bा[Ƿा


bNjDZȊ <ƲǷȗǽȍॅ,U श ࡱࡳࡸࡲঃࡷࡵࡸࡷࡶࡹॅࡱࡹࡶࡸࡲࡴࡶࡴࡴࡴࡴࡵ
ǶƲǡDZ श ǡΒƲǷǽǷǽǷNjજǘǶƲǡDZाǁǽǶ
ǯȚǷ $LjǗǡǖȓȓȅ श HǷǽǷNj /ΒƲǷ ॲǡΒƲǷ ǽǷǽǷNjॳ
/ǷȐȗƲǷȐǡ श /ǷȐȗǡȗȚȗ [NjǷǡ /ǷLJǽǷNjȐǡƲ [ȚȍƲǯƲȍȗƲ
DZƲǶƲȗ /ǷȐȗƲǷȐǡ श :DZा <ǡ ,ƲǬƲȍ NjΒƲǷȗƲȍƲ Cǽा ࡲࡺ Pas Foto
<NjǷȗǡǷǘƲǷष :NjǀȍNjȐष [ȚȍƲǯƲȍȗƲा ࡶࡸࡲࡳࡷ
ǡLJƲǷǘ <NjƲǞDZǡƲǷ श bNjǯǷǽDZǽǘǡ ȚLJǡǽ

XǡΒƲΘƲȗ UNjǯNjȍǬƲƲǷॅUȍǽǗNjȐǡ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ࡲा BNjǷǬƲLJǡ [ǽȚǷLJ ǷǘǡǷNjNjȍ
ࡳा [NjǀƲǘƲǡ UNjǷǘƲǬƲȍ bNjǯǷǽDZǽǘǡ ȚLJǡǽ LJƲǷ ȚLJǡǽΑǡȐȚƲDZ

XǡΒƲΘƲȗ UNjǷLJǡLJǡǯƲǷ LJƲǷ bƲǞȚǷ NjDZƲǬƲȍश


ࡲा [ bǞा ࡲࡺࡹࡱঃࡲࡺࡹࡷ
ࡳा [BU bǞा ࡲࡺࡹࡷঃࡲࡺࡹࡺ
ࡴा [bB bǞा ࡲࡺࡺࡱঃࡲࡺࡺࡴ
ࡵा [ঃࡲ :ȚȍȚȐƲǷ $ǡDZǶ LJƲǷ bNjDZNjΑǡȐǡ [b[/ॅ/[/ [ȚȍƲǯƲȍȗƲ bǞ ࡳࡱࡱࡴঃࡳࡱࡱࡸ
ࡶा [ঃࡳ UNjǷǘǯƲǬǡƲǷ [NjǷǡ ॲBȚȐǡǯॳ /[/ [ȚȍƲǯƲȍȗƲ bǞ ࡳࡱࡱࡹঃࡳࡱࡲࡱ
ࡷा [ঃࡴ UNjǷǘǯƲǬǡ [NjǷǡ /[/ [ȚȍƲǯƲȍȗƲ ॲUȍǽȐNjȐॳ

:ȚLJȚDZ ȚǯȚ LJƲǷ bƲǞȚǷ bNjȍǀǡȗ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ࡲा ȚǯȚ ǬƲȍ bNjǯǷǽDZǽǘǡ ȚLJǡǽ bǞा bNjȍǀǡȗ ࡳࡱࡲࡷ
ࡳा ȚǯȚ bNjǯȐ ॲBNjΒȚǬȚLJǯƲǷ [ȚƲȍƲ %ƲǶNjDZƲǷ ǘNjǷǘ yƲǷǘ /LJNjƲDZ ǶNjDZƲDZȚǡ bNjǯǷǽDZǽǘǡ
UNjȍNjǯƲǶƲǷॳ bǞा ࡳࡱࡳࡱ ॲUȍǽȐNjȐ NjȗƲǯॳ

:ȚLJȚDZ UNjǷNjDZǡȗǡƲǷ LJƲǷ bƲǞȚǷ bNjȍǀǡȗ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ࡲा ǶȊDZǡϯǯƲȐǡ %ƲǶNjDZƲǷ :ƲΒƲ ƲDZƲǶ UNjȍǘNjDZƲȍƲǷ ॲ:ȚȍǷƲDZ <NjȗNjǘ ȗNjȍǀǡȗ bǞा
<ƲȍƲΒǡȗƲǷ ࡳࡱࡲࡷॳ
ࡳा XȚƲǷǘ UNjȍȗȚǷǬȚǯƲǷ BȚȐǡǯ <ƲȍƲΒǡȗƲǷ ॲ%ƲǶNjDZƲǷ :ƲΒƲॳ ॲ:ȚȍǷƲDZ CȚƲǷȐƲ eCB
ȗNjȍǀǡȗ bǞा ࡳࡱࡲࡹ
ࡴा /ǶƲǬǡǷNjȍ XȚƲǷǘ <NjȊƲDZƲ UNjǷLJNjǷǘƲȍ UƲLJƲ XNjǯƲǶƲǷ %ƲǶNjDZƲǷ ǘǏǷǘ
ࡵा NjǷǘƲǷ bNjǯǷǡǯ [ȗNjȍNjǽǗǽǷǡǯ ॲUNjǷNjDZǡȗǡƲǷ /U /[/ [ȚȍƲǯƲȍȗƲ bǞा ࡳࡱࡲࡺॳ

/ǷǗǽȍǶƲȐǡ =ƲǡǷ ॲȗǡLJƲǯ ΒƲǬǡǀॳश


व <NjƲǞDZǡƲǷश ȐǽȚǷLJ NjǷǘǡǷNjNjȍ ǶȚȐǡǯष ȐǽȚǷLJ NjǷǘǡǷNjNjȍ ǡDZȚȐȗȍƲȐǡ ϯDZǶष ȐǽȚǷLJ NjǷǘǡǷNjNjȍ
UNjȍȗȚǷǬȚǯƲǷ ǶȚȐǡǯ

ࡳࡶࡱ
ǷȓǝLjȭLj UǡȍǡȇLjLjǴ

CƲǶƲ =NjǷǘǯƲȊ श XǡNjǷ [ƲǗȍǡǷƲष Bाष UǞा


bNjDZȊ <ƲǷȗǽȍॅ,U श ࡱࡹࡲࡲࡹࡹࡵࡹࡷࡲ
ǶƲǡDZ श ȍȐƲǗȍǡǷƲજȚǷǬाƲǁाǡLJ
ǯȚǷ ȐǽǁǡƲDZ ǶNjLJǡƲ श sǞƲȗȐƲȊȊष $ƲǁNjǀǽǽǯष /ǷȐȗƲǘȍƲǶष
bΒǡȗȗNjȍ
/ǷȐȗƲǷȐǡ श eǷǡΑNjȍȐǡȗƲȐ CNjǘNjȍǡ :ƲǯƲȍȗƲ
DZƲǶƲȗ /ǷȐȗƲǷȐǡ श <ƲǶȊȚȐ ष eC:ष
:ƲDZƲǷ XƲΒƲǶƲǷǘȚǷ BȚǯƲ
ǡLJƲǷǘ <NjƲǞDZǡƲǷ श UNjǷLJǡLJǡǯƲǷ BȚȐǡǯ

XǡΒƲΘƲȗ UNjǯNjȍǬƲƲǷॅUȍǽǗNjȐǡ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ࡲा <NjȗȚƲ eǶȚǶ ȐǽȐǡƲȐǡ UNjǷLJǡLJǡǯ [NjǷǡ /ǷLJǽǷNjȐǡƲ ࡳࡱࡲࡵঃࡳࡱࡲࡺ
ࡳा ǽȐNjǷ UNjǷLJǡLJǡǯƲǷ BȚȐǡǯ eǷǡΑNjȍȐǡȗƲȐ CNjǘNjȍǡ :ƲǯƲȍȗƲ
ࡴा <ǽȍLJǡǷƲȗǽȍ UȍǽǘȍƲǶ [ȗȚLJǡ [NjǷǡ bƲȍǡ ȍƲǶƲ LJƲǷ BȚȐǡǯ ࡳࡱࡲࡶঃࡳࡱࡲࡹ
ࡵा <ǽȍLJǡǷƲȗǽȍ UȍǽǘȍƲǶ[ȗȚLJǡ UNjǷLJǡLJǡǯƲǷ BȚȐǡǯ ࡳࡱࡲࡹঃࡳࡱࡳࡳ
ࡶा :Țȍǡ CƲȐǡǽǷƲDZ $=[ࡳC ࡳࡱࡲࡵঃ ȐNjǯƲȍƲǷǘ
ࡷा CƲȍƲ [ȚǶǀNjȍ ǀNjȍǀƲǘƲǡ ǯNjǘǡƲȗƲǷ ǡDZǶǡƲǞ ࡳࡱࡲࡶঃࡳࡱࡲࡺ

XǡΒƲΘƲȗ UNjǷLJǡLJǡǯƲǷ LJƲǷ bƲǞȚǷ NjDZƲǬƲȍश


ࡲा [ࡲ ঁ ࡲࡺࡸࡺঃࡲࡺࡹࡴ ঁ UNjǷLJǡLJǡǯƲǷ BȚȐǡǯ /</U :ƲǯƲȍȗƲ
ࡳा [ࡳ ঁ ࡲࡺࡺࡵঃࡲࡺࡺࡷ Ljȣȇ͕ Ljȍǝ ȇǡȌǡȍȭLjȣ͕ ǝȰǗLjȭǷȓȍ ঁ bǞNj HǞǡǽ [ȗƲȗNj
eǷǡΑNjȍȐǡȗΘष e[
ࡴा [ࡴ ঁ ࡳࡱࡱࡺঃ ࡳࡱࡲࡵ Ljȣȇ͕ Ljȍǝ ȇǡȌǡȍȭLjȣ͕ ǝȰǗLjȭǷȓȍ ঁ bǞNj HǞǡǽ [ȗƲȗNj
eǷǡΑNjȍȐǡȗΘष e[

:ȚLJȚDZ ȚǯȚ LJƲǷ bƲǞȚǷ bNjȍǀǡȗ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


व bNjǽȍǡ BȚȐǡǯ ƲȐƲȍ ࡳࡱࡲࡶ

:ȚLJȚDZ UNjǷNjDZǡȗǡƲǷ LJƲǷ bƲǞȚǷ bNjȍǀǡȗ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ߛ࢚ /ȌȠȣȓ͎ǷȍǮ ȭǡLjǗǴǷȍǮ ȢȰLjȇǷȭ͕ ȭǴȣȓȰǮǴ ǝǷΤǡȣǡȍȭǷLjȭǡǝ ȭǡLjǗǴǷȍǮ ȭȓ͏LjȣǝȦ ȭǴǡ
ǷȌȠȣȓ͎ǡȌǡȍȭ ȓǭ ȭǴǡ ȌǷȍǷȌȰȌ ȦȭLjȍǝLjȣǝȦ Ƿȍ /ȍǝȓȍǡȦǷLj
ࡳा XNjΑǡDZǡȗƲȐǡ <ȚȍǡǯȚDZȚǶ UȍǽLJǡ UNjǷLJǡLJǡǯƲ BȚȐǡǯ LJƲDZƲǶ ǶNjΘǽǷǘȐǽǷǘ ȍƲ
XNjΑǽDZȚȐǡ /ǷLJȚȐȗȍǡ ࡵाࡱ
ࡴा <NjǶƲǶȊȚƲǷ ǶNjȗƲǯǽǘǷǡȐǡ ǶƲǞƲȐǡȐΒƲ ȐNjǷǡ ǶȚȐǡǯ ȊƲLJƲ ǶƲȗƲ ǯȚDZǡƲǞ qǽǯƲDZ
ࡵा NjȍǀƲǘƲǡ ȐȊNjǯ UNjǷǘƲǬƲȍƲǷ BȚȐǡǯ [=bU eǷǘǘȚDZƲǷ LJƲǷ [=bU eǶȚǶ LJǡ
:ƲǯƲȍȗƲ

<ƲȍΘƲ ȐNjǷǡ ΘƲǷǘ LJǡǞƲȐǡDZǯƲǷश


ࡲा =ƲǘȚ [ǯNjȗȐƲ ঁ UNjǶǀȚǯƲƲǷ UƲǶNjȍƲǷ XƲLJNjǷ [ƲDZNjǞ ঃ ࡳࡱࡱࡴ
ࡳा =ƲǘȚ BƲȍȐ LJƲǷ ,ΘǶǷNj /ǷȐȗƲǷȐǡࡳ ॅeǷǡΑNjȍȐǡȗƲȐ LJǡ DZȚƲȍ eC: ࡳࡱࡱࡲঃࡳࡱࡱࡸ
ࡴा =ƲǘȚ eCbe<Be ঁ ǡNjȐ CƲȗƲDZǡȐ eǷǡΑNjȍȐǡȗƲȐ CNjǘNjȍǡ :ƲǯƲȍȗƲ ঃ ࡳࡱࡳࡱ

ࡳࡶࡲ
ǷȓǝLjȭLj Uǡȍ͕ȰȍȭǷȍǮ࢓ ǡȦLjǷȍǡȣ࢓ ǝLjȍ /ȇȰȦȭȣLjȭȓȣ

CƲǶƲ =NjǷǘǯƲȊ श DZNjȗǞNjƲ =ƲȍƲȐ <ǡǷƲǷȗǡ [ाB


bNjDZȊ <ƲǷȗǽȍॅ,U श ࡱࡹࡶࡲࡶࡷࡱࡱࡷࡶࡺࡲ
ǶƲǡDZ श ƲDZNjȗǞNjƲाǯǡǷƲǷȗǡજǘǶƲǡDZाǁǽǶ
ǡLJƲǷǘ <NjƲǞDZǡƲǷ श BLjȣȅǡȭǷȍǮष [ȓǗǷLjȇ BǡǝǷLjष
NjȐƲǡǷ %ȍƲϯȐ
ǯȚǷ /ȍȦȭLjǮȣLjȌ श DZƲȍƲȐǯǡǷƲǷȗǡࡺࡹ

XǡΒƲΘƲȗ UNjǯNjȍǬƲƲǷॅUȍǽǗNjȐǡ ॲࡲࡱ bƲǞȚǷ bNjȍƲǯǞǡȍॳश


ߛ࢚ /ȍȭǡȣȍ ȐNjǀƲǘƲǡ %ȣLjȠǴǷǗ ǡȦǷǮȍ ࣡ UȰǖȇǷǗ XǡȇLjȭǷȓȍ ǡȠLjȣȭȌǡȍȭ LJǡ
/ǷȗNjȍǽǷȗǡǷNjǷȗƲDZ ƲDZǡ XNjȐǽȍȗ ॲࡳࡱࡲࡶॳ
ߜ࢚ /ȍȭǡȣȍ ȐNjǀƲǘƲǡ ȓȓȣȠȓȣLjȭǡ ȓȌȌȰȍǷǗLjȭǷȓȍ LJƲǷ BLjȣȅǡȭǷȍǮ Ljȍǝ UȣȓȌȓȭǷȓȍ
ǡȠLjȣȭȌǡȍȭ LJǡ Ub /ǷȗǡDZƲǷLJ %ȍƲǷLJNj ॲࡳࡱࡲࡺॳ

XǡΒƲΘƲȗ UNjǷLJǡLJǡǯƲǷ LJƲǷ bƲǞȚǷ NjDZƲǬƲȍश


ࡲा [BU ȗǞ ࡳࡱࡲࡳ ঃ ࡳࡱࡲࡵ
ࡳा [B<C ࡵ BƲDZƲǷǘ ঃ : <NjǘǡƲȗƲǷ UNjǶǀNjDZƲǬƲȍƲǷ ȚȍȚȐƲǷ BȚDZȗǡǶNjLJǡƲ ȗǞ ࡳࡱࡲࡵ ঃ
ࡳࡱࡲࡷ
ࡴा [ঃࡲ :ȚȍȚȐƲǷ BLjȣȅǡȭǷȍǮ ȓȌȌȰȍǷǗLjȭǷȓȍ ࣡ /ȍȭǡȣȍLjȭǷȓȍLjȇ ȰȦǷȍǡȦȦ BLjȍLjǮȌǡȍȭ
eǷǡΑNjȍȐǡȗƲȐ ǡȊȚȗȍƲ [ȚȍƲǀƲΘƲ ȗǞ ࡳࡱࡲࡷ ঃ ࡳࡱࡳࡱ

ࡳࡶࡳ

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