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3HVR IUHQWHJ 3HVR WUDVHLUR J 2So}HV DSHVDU GH VpULH HVWDUHP PRQWDGRV FRP R HL[R QRUPDO GH PP j IUHQWH WDPEpP SRGHP PRQWDU XP HL[R GH PP EDVWD PXGDU RV ODGRV GR FXER $OpP GR PDLV H[LVWH D YHUVmR URVVPD[ ;/ SDUD 9EUDNHV RX DV PDLV DFHVVtYHLV URVV5RF 5,7+( *,5'(5 20(17È5,26 $FDEDPHQWRV QmR Ki G~YLGDV VmR UHDOPHQWH UHVLVWHQWHV 5HODomR SUHoRUHVLVWrQFLD 5RGDV TXH SHVDP JUDPDV H TXH DJHQWDP WXGR 5HODomR SUHoRTXDOLGDGH 6mR XPDV URGDV LQWHUHVVDQWHV )LFKD WpFQLFD $UR IUHQWH 5LWFKH 25 SUHWR FRP IXURV FRPSDWtYHO SDUD GLVFRV RX 9EUDNHV $UR 7UiV 5LWFKH 25 SUHWR FRP IXURV FRPSDWtYHO SDUD GLVFRV RX 9EUDNHV 5DLRV IUHQWH 7HDP 5LWFKH SUHWRV ¶ IDEULFDGRV SHOD '7 6ZLVV

143.
5DLRV WUiV7HDP 5LWFKH SUHWRV ¶ IDEULFDGRV SHOD '7 6ZLVV

144.
(QUDLDPHQWR IUHQWHUX]DPHQWR WULSOR

145.

146.
(QUDLDPHQWR WUiVUX]DPHQWR WULSOR HP DPERV RV ODGRV 1LSSOHV 5LWFKH SUDWHDGRV XER IUHQWH 7HDP 5LWFKH SUHWR PDWH SDUD GLVFR H GH URODPHQWRV VHODGRV XER WUiV 7HDP 5LWFKH SUHWR PDWH SDUD GLVFR H GH URODPHQWRV VHODGRV 3HVR IUHQWH J 3HVR WUDVHLUR J 5LWFKH 3UR 'LVF 25 20(17È5,26 5LJLGH] 1mR HVWi DR QtYHO GD *LUGHU PDV DQGD SHUWR $FDEDPHQWR %HP FXLGDGR 5HODomR SUHoRUHVLVWrQFLD SHVDP TXDVH J )LFKD WpFQLFD $UR IUHQWH 5LWFKH 25 SUHWR IXURV $UR WUiV 5LWFKH 25 SUHWR IXURV 5DLRV IUHQWH 7HDP 5LWFKH IDEULFDGRV SHOD '7 6ZLVV

147.
5DLRV WUiV7HDP 5LWFKH IDEULFDGRV SHOD '7 6ZLVV

148.
(QUDLDPHQWR IUHQWHUX]DPHQWR WULSOR (QUDLDPHQWR WUiV UX]DPHQWR WULSOR 1LSSOHV 5LWFKH SUDWHDGDV XER IUHQWH 5LWFKH SUHWR SDUD GLVFR URODPHQWRV VHODGRV XER 7UiV 5LWFKH SUHWR SDUD GLVFR URODPHQWRV VHODGRV FRP DED SDUD VXSRUWDU DV IRUoDV QDV IUHQDJHQV 3HVR IUHQWH J 3HVR WUDVHLUR J %2175$*(5 5$( /,7( 9%5$.(6

149.

150.
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151.
SUHWR FRP IXURV $UR WUiV /LWH 7/ 'LVF 26% SUHWR FRP IXURV 5DLRV IUHQWH '7 6ZLVV FRQLILFDGRV SUHWRV 5DLRV WUiV '7 6ZLVV FRQLILFDGRV SUHWRV (QUDLDPHQWR IUHQWH 5DGLDO (QUDLDPHQWR WUiV UX]DPHQWR D WUrV UDLRV 1LSSOHV $OXPtQLR SUDWHDGRV XER IUHQWH '7 6ZLVV 2Q[ FRUSR HP DOXPtQLR 1 GH URODPHQWRV VHODGRV XER WUiV '7 6ZLVV 2Q[ FRUSR HP DOXPtQLR 1 GH URODPHQWRV VHODGRV DMXVWiYHLV DWUDYpV GH FKDYH GH FRQHV 3HVR IUHQWH J EORFDJHP J 3HVR WUDVHLUD J EOROFDJHP J J ILWDV SDUD 7XEHOHVV IW 6+,0$12 ;75 20(17È5,26 5LJLGH] 8P SDU GH URGDV WmR OHYH DFDED SRU VHU D DQWtWHVH GD ULJLGH] (VWDV URGDV GHVWLQDPVH DRV DPDQWHV GH FURVV FRXQWU $FDEDPHQWRV 8PD URGD WmR DWtSLFD FRPR HVWD FRP RV UDLRV URVTXHDGRV QDV H[WUHPLGDGHV GRV FXERV DR FRQWUiULR GR TXH p FRPXP 2 DFDEDPHQWR p ERP PDV QmR FKHJD j SHUIHLomR GD 0DYLF 5HODomR SHVRUHVLVWrQFLD $ FRPELQDomR FRP XP PDLRU Q~PHUR GH UDLRV

152.
H D VXDGLVSRVLomR ID] FRP TXH KDMD XP DXPHQWR QD ULJLGH] H QD UHVLVWrQFLD j WRUomR RQVLGHUDQGR R SHVR H D HYROXomR HP UHODomR PRGHOR DQWHULRU H XPD H[FHOHQWH URGD 5HODomR SUHoRTXDOLGDGH FRPSDUDGDV FRP RXWUDV URGDV H[WUHPDPHQWH OHYHV R VHX SHVR PDLV EDL[R DV FDUDFWHUtVWLFDV VHPHOKDQWHV H D SRVVLELOLGDGH GH SRGHU PRQWDU SQHXV 7XEHOHVV MXVWLILFDP XPD QRWD HP SRQWRV )LFKD WpFQLFD

153.

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155.

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157.
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158.
216(59$d2 ( /,03(=$ $SyVDTXHOH WUHLQR PDOXFR QXP GLD GH VRO VXRU GH FDYDOR TXH FDL SUD WRGR ODGRR FRUUHWR FDSDFHWH QR YDUDO j VRPEUD SDUD VHFDU 1mR R JXDUGH PROKDGR GH VXRU 6H SUHIHULU SDVVH XPD iJXD DSyV ¬V YH]HV p QHFHVViULR ODYDU FRP VDEmR QHXWUR DV HVSXPDV LQWHUQDV SDUD WLUDU R RGRU 2 FRUSR H[WHUQR H DV WLUDV SRGHP VHU OLPSDV FRP XP SDQR HPEHELGR HP VDEmR p FRPXP RFRUUHU GHSRVLWR GH VDO QDV WLUDV $ SDU LQWHUQD GR FDVFR WDPEpP SRGH VHU OLPSD FRP XP SDQR FRP iJXD H VDEmR 3DUD GHL[DU VHX FDSDFHWH EULOKDQGR H FRQVHUYDU D SLQWXUD FRPR QRYD EDVWD HQFHUDU R FDVFR XPD RX GXDV YH]HV SRU DQR FRP FHUD SDUD DXWRPyYHLV GR WLSR *UDQG 3UL[ GHL[DU VHFDU H SROLU FRP XPD IODQHOD VHFD 5()250$ $/2, %LNHU FRQWD FRPR WUDQVIRUPRX VXD DORL QXPD VSHHG GH PDUFKDV 6RX XP DPDQWH GR PRXQWDLQ ELNH PDV FRPR PRUR ORQJH GDV WULOKDV WULOKD Vy GH ILP GH VHPDQD

159.
WHQKR TXH URGDU QRDVIDOWR VH TXLVHU SHGDODU (QWmR ILFD DTXHOH OHQJDOHQJD GH FRORFDU SQHX VOLFN SDUD DVIDOWR H FUDYR SD YLQKD SHQVDQGR QXPD VSHHG PDV DFDER JDVWDQGR WRGR R GLQKHLUR FRP D PRXQWDLQ ELNH H QXQFD VDLR GLVVR $Wp R GLD HP TXH DFKHL QD ZHE D JDOHUD PDQGDQGR YHU 0DO FRPHFHL PLQKD EXVFD SHOD DORL H Mi DFKHL XPD $UPDGLOKD GR D QR VDOmR GH IHVWDV GR SUpGLR GH QLQKD QRLYD (VWDYD Oi ODUJDGD WRGD RULJLQDO H FRPSOHWDPHQWH HQIHUUXMDGD 0LQKD VRJUD FRQYHUVRX FRP D SURSULHWiULD H SRU 5 D ELFLFOHWD KHJDQGR HP FDVD HX ROKHL SDUD HOD H HOD ROKRX SDUD PLP H SHQVDPRV MXQWRV H DJRUD 3HVTXLVDV H PDLV SHVTXLVDV QD ZHE H RFRPEULQIRORMDDQXQFLRV )RQH

160.
VXRU GH FDYDORTXH FDL SUD WRGR ODGRR FRUUHWR p FRORFDU VHX PROKDGR GH VXRU 6H SUHIHULU SDVVH XPD iJXD DSyV R GRU 2 FRUSR H[WHUQR H DV R p FRPXP RFRUUHU GHSRVLWR GH VDO QDV WLUDV $ SDUWH D FRPR QRYD EDVWD HQFHUDU R FDVFR XPD RX GXDV QG 3UL[ GHL[DU VHFDU H SROLU FRP XPD IODQHOD VHFD GDV WULOKDV WULOKD Vy GH ILP GH VHPDQD

161.
WHQKR TXH OHQJD GHFRORFDU SQHX VOLFN SDUD DVIDOWR H FUDYR SDUD R GLQKHLUR FRP D PRXQWDLQ ELNH H QXQFD

162.

163.
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164.
H SDOKD GHDoR JURVVD 5

165.
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166.
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167.
GHL WUrV DSOLFDGDVGH SULPHU TXDGURJDUIRJXLGmRDURVFXERFkPELRVSDVVDGRUHV

168.
H KRUDV GHSRLVSDVVHL XPD OL[D G iJXD Qž 5

169.
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170.
XP FDQRWH SUHWRIRVFR GH DOXPtQLR 5

171.
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172.
H IXL YLVLWDUR $OEHUWR ZZZDOEHUWRELFLFOHWDVFRPEU

173.
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174.
H R FRQMXQWRGH FDERV FkPDUD GH DU PRYLPHQWR FHQWUDO EORFDJHQV UDLRV H DOLQKDPHQWR GH URGDV 5

175.
$ FDL[D GHGLUHomR H RV FXERV HVWDYDP yWLPRV 2 FkPELR WDPEpP TXH DJRUD HUDP SUHWR IRVFR $ FDWUDFD QRYLQKD SHOR YLVWR HVVD FDORL WLQKD VLGR PXLWR SRXFR XVDGD $V SRXFDV SHoDV GH DOXPtQLR OLPSHL FRP SDOKD GH DoR ILQD H SDVWD SDUD GDU EULOKR H ILFDUDP QRYDV 2V SQHXV SHGDLV ILUPDSp FRUUHQWH H PmRGHREUD IRUDP SUHVHQWH GR $OEHUWR $JRUD Vy IDOWDYD R FKDUPH GRV DGHVLYRV GD DORL ,VVR IRL IiFLO JUDoDV DR KULV ZZZYHJDQSULGHFRP

176.
TXH p FROHFLRQDGRUGH ELFLFOHWDV DQWLJDV (OH WLQKD XPD FDUWHOD GH DGHVLYRV GD DORL EUDQFRV ILFDUDP SHUIHLWRV 7HUPLQDGR R VHUYLoR TXH OHYRX XP PrV GHVGH TXH DFKHL HOD QR VDOmR GH IHVWDV (OD HVWi URGDQGR QR DVIDOWR PDFLD H FRQIRUWiYHO H QmR p PDLV XPD DORL H VLP XPD DORL ( QR ILQDO GDV FRQWDV DFDER SDVVDQGR PDLV WHPSR HP FLPD GD DORL YXOJR DORL GXUDQWH D VHPDQD GR TXH QD PLQKD PRXQWDLQ XPD *7 L'ULYH 4XDOTXHU VHPHOKDQoD FRP D /RRN .* QmR p PHUD FRLQFLGrQFLD

177.

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447.

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