7
(1
)5
'(
1/
(6
37
37
*5
12
6(
),
'.
58
$-867('2&20$1'2'2&20%867Ë9(/
'HSRLVGHOLJDURPRWRUPRYDDDODYDQFDGRFRPDQGRGRFRPEXVWtYHOSDUD
DSRVLomR$/72
❸
9LUHDDODYDQFDGRFRPDQGRGRFRPEXVWtYHOSDUDDYHORFLGDGHUHTXHULGDGR
PRWRUHQWUH
❷〜❸
❶
,17(5583d2
❷
%$,;2
❸
$/72
❹
$)2*$0(172
'(6/,*$0(172
3$5$&257$'25'(*5$0$
9LUHDDODYDQFDGRFRPDQGRGRFRPEXVWtYHOSDUDDSRVLomR%$,;2
❷
H
UHGX]DDYHORFLGDGHGRPRWRU
❶
,17(5583d2
❷
%$,;2
❸
$/72
❹
$)2*$0(172
6ROWHRFDERGRIUHLR)UHLRDWLYDGR
❶
'HVHQJDWDU
)UHLRGHVOLJDGR
❷
(QJDWDU
)UHLRDWLYDGR
1
2
3
4
1
2
3
4
1
2
$&,21$0(172
3X[HRPDQtSXORGRDUUDQTXHOHQWDPHQWHDWpVHQWLUUHVLVWrQFLD(VWHpRSRQWR
GH³FRPSUHVVmR´
'HL[HRPDQtSXORUHWRUQDUjSRVLomRRULJLQDOHHQWmRSX[HFRPUDSLGH]
1mRSX[HDFRUGDDWRGRVHXFXUVR4XDQGRRPRWRUFRPHoDUDIXQFLRQDUGHL[H
RPDQtSXORGRDUUDQTXHUHWRUQDUjSRVLomRRULJLQDOVHPVROWiORHPVHXUHWRUQR
3$5$02'(/26&20$55$148((/e75,&2
&RORTXHDFKDYHQDUDQKXUDHJLUHDDWpDSRVLomR³
I
´OLJDGR*LUHDSDUDDGLUHLWDSRVLomRGH,1,&,$5GHPRGRDOLJDUR
PRWRU
Ŷ 1mRXVHRDUUDQTXHHOpWULFRFRQWLQXDPHQWHSRUPDLVGHFLQFRVHJXQGRVPHVPRTXHRPRWRUQmRDUUDQTXH
Ŷ 6HRPRWRUQmRDUUDQFDUJLUHDFKDYHSDUDDSRVLomR³
I
´OLJDGRHHVSHUHFHUFDGHGH]VHJXQGRVDQWHVGHWHQWDUQRYDPHQWH
Ŷ 1XQFDJLUHRLQWHUUXSWRUFKDYHSDUDDSRVLomR,1,&,$5TXDQGRRPRWRUHVWLYHUHPIXQFLRQDPHQWR
PT
7EC-F8199-U1.indb 129
7EC-F8199-U1.indb 129
2018/04/24 14:22:14
2018/04/24 14:22:14