http://www.diva-portal.org

This is the published version of a chapter published in Sex, State and Society: ComparativePerspectives on the History of Sexuality.

Citation for the original published chapter :

Davidson, R. (2000)Reservoirs of Infection: Gender, Morality and the Social Epidemiology of VD in Twentieth-Century Scotland.In: Lars-Göran Tedebrand (ed.), Sex, State and Society: Comparative Perspectives on theHistory of Sexuality (pp. 15-23). Umeå: Nyheternas tryckeri KB i Umeå

N.B. When citing this work, cite the original published chapter.

Permanent link to this version:http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-134562

M]k]jngajk g^ Df^][lagf 6 B]f\]j( HgjYdalqYf\ l`] Ng[aYd @ha\]eagdg_q g^ Q?

af Oo]fla]l`)>]flmjq N[gldYf\

GaYWd 9Sh[Vea`

Dfljg\m[lagf

O`] gn]jja\af_ ^]Ylmj] g^ l`] Q? [gfljgdk Yf\ hjg[]\mj]k \]n]dgh]\af lo]fla]l` []flmjq N[gldYf\ `Yk Z]]f l`] \]_j]] lg o`a[` l`]q

`Yn]( Yk af eYfq gl`]j [gmflja]k( lYj_]l]\ Yf\ kla_eYlak]\ qgmf_( k]pmYddq Y[lan] oge]f*-

Pf\]jhaffaf_ l`ak \ak[jaeafYlagf `Yk Z]]f Y kg[aYd ]ha\]eagdg_q(oa\]dq Yjla[mdYl]\ af hmZda[ `]Ydl` j]hgjlk Yf\ g^^a[aYd hgda[q e]eg)jYf\Y( l`Yl `Yk hgjljYq]\ km[` oge]f Yk l`] ^mf\Ye]flYd kgmj[]Yf\ j]k]jngaj g^ af^][lagf( j]^d][laf_ af lmjf Y \gmZd] klYf\Yj\ g^k]pmYd egjYdalq* >]jlYafdq( l`] YfYlgea[Yd hjgZd]ek g^ \aY_fgkaf_ Yf\lj]Ylaf_ Q? af ^]eYd] hYla]flk( Yf\ l`] YkqehlgeYla[ [gmjk] g^_gfg[g[[Yd af^][lagf af eYfq oge]f( `Yk [gfljaZml]\ lg l`] na]o g^oge]f Yk l`] hggd g^ af^][lagf* =ml( Yk af eYfq gl`]j [gmflja]k( l`]]pl]fl lg o`a[` l`]q `Yn] Z]]f ZdYe]\ ^gj l`] khj]Y\ g^ Q? k]]ek lg`Yn] \jYof gf Y \]]h]j Yf\ egj] hjaealan] fglagf g^ ogeYf Ykhgddml]j *

Nm[` Y fglagf oYk \]]hdq jggl]\ oal`af N[gllak` [mdlmjYd( d]_YdYf\ e]\a[Yd ljY\alagfk* O`] ]Yjda]kl Q? [gfljgdk( afljg\m[]\ af -053Zq <Z]j\]]f Ogof >gmf[ad lg [gfljgd l`] khj]Y\ g^ _d]f_gj] gj _jYf\_gj] ( Yk kqh`adak oYk [geegfdq fYe]\ af N[gldYf\( ]p)hj]kkdq lYj_]l]\ k]pmYddq Y[lan] ^]eYd]k7 \]eYf\af_ l`Yl Ydd da_`lVdggk]W oge]f \a\kl ^jge l`Yaj na[]k Yf\ kqf g^ n]f]ja] Yf\ ogjc^gj l`Yaj kmhhgjl gf hYaf g^ Z]af_ ZjYf\]\ gj Z]af_ ZYfak`]\ ^jgel`] lgof*. <dl`gm_` kqh`adak [gflafm]\ lg Z] na]o]\ Yk Y `a_`dq

) .1 )

[gflY_agmk Yf\ af^][lagmk \ak]Yk] [geemfa[Yl]\ Zq k`Yj]\ [dgl`af_(ml]fkadk( Yf\ ZYl`af_ YjjYf_]e]flk( Yf\ ]n]f Zq Zq af`Ydaf_ l`] kYe]Yaj( l`]j] oYk _jgoaf_ klj]kk af [ana[ _gn]jfYf[] gf l`] k]pmYd ljYfk)eakkagf g^ l`] \ak]Yk] Zq oge]f h]j[]an]\ lg Z] hjgeak[mgmk* O`mk(mf\]j Yf @\afZmj_` <[l g^ -12,( af l`] afl]j]klk g^ hmZda[ `]Ydl`( hjgklalml]k o]j] kmZb][l lg h]fYdla]k jYf_af_ ^jge hmZda[ j]Zmc]Yf\ [Yjlaf_ lg ZjYf\af_ gj lgjlmj] Yf\ \]Yl`* O`] k]_j]_Ylagf g^kqh`adala[k oYk [gf^af]\ lg oge]f gfdq( Yk l`] <[l \aj][l]\ l`Yl Ydd o`gj]k ( o`]l`]j af^][l]\ gj fgl( o]j] lg Z] ZYfak`]\ ^jge l`] lgofYf\ kmZmjZk */=q l`] ]f\ g^ l`] []flmjq( l`] ^]Yj g^ Q? oYk hjgehlaf_cajc k]kkagfk lg afljg\m[] \jY[gfa[ e]Ykmj]k Y_Yafkl oge]f o`g ^Yad]\lg [gf^gje lg >`mj[` dYok g^ egjYdalq Yf\ hYjla[m dYjdq Zjm lYd]p][mlagfk o]j] hj]k[jaZ]\ o`]j] kqh`adak Yf\ oal[`[jY^l o]j]Ykkg[aYl]\ af l`] af\a[le]fl*0

<k Gaf\Y HY`gg\ `Yk Yj_m]\( l`] `aklgjq g^ l`] kmjn]addYf[] Yf\[gfljgd g^ Q? af ]Yjdq)eg\]jf N[gldYf\ l`]j]^gj] ]fYZd]k mk lg k]]`go l`] Yfl][]\]flk g^ faf]l]]fl`)[]flmjq \ak[gmjk]k kmjjgmf\af_^]eYd] hjgklalmlagf Yf\ Q? o]j] jggl]\ af `]Ynadq _]f\]j]\ Yf\\ak[jaeafYlgjq hjY[la[]k g^ kg[aYd e]\a[af] o`a[` \Yl] ZY[c []flmja]k*1Ng[aYd ^]Yj g^ ^]eYd] hjge ak[malq ]f_]f\]j]\ Y hgo]j^md egjYd]ha\]eagdg_q l`Yl oYk lg af^gje l`] kg[aYd j]khgfk] lg Q?( Yj_mYZdqmflad l`] hj]k]fl \Yq* Hgj]gn]j( Yk akkm]k g^ k]pmYd aeegjYdalq Yf\k]pmYd \ak]Yk] Z][Ye] af[j]Ykaf_dq e]\a[Ydak]\( d]_Yd Yf\ e]\a[YdY_]f[a]k ogjc]\ af [gddYZgjYlagf lg afklalmlagfYdak] Yf\ j]^gje l`]hjgeak[mgmk Yf\ l`] n]f]j]Yddq af^][l]\ ogeYf Yf\ lg akgdYl] `]j^jge j]kh][lYZd] kg[a]lq* O`]k] hjg[]kk]k o]j] ^mjl`]j \]n]dgh]\oal`af l`] dg[Yd [alq klYl]k g^ faf]l]]fl`)[]flmjq N[gldYf\ af o`a[`f]odq ]klYZdak`]\ dg[c `gkhalYdk ^gj n]f]j]Yddq af^][l]\ ^]eYd]k ^gje)]\ hYjl g^ Y _]f]jYd kljYl]_q g^ d]_Yd j]hj]kkagf Yf\ egjYd j]_mdYlagfgh]jYl]\ Zq l`] hgda[] Yf\ Zq l`] HY_\Yd]f] Yf\ gl`]j j]^gjeYlgjqYkqdmek af Yf ]^^gjl lg [gflYaf hjgklalmlagf*2<k Y j]kmdl( Q? Z][Ye]af[j]Ykaf_dq ]f_jgkk]\ oal`af l`] kg[aYd hgdala[k kmjjgmf\af_ hjgkla)lmlagf( Yf\ e]\a[Yd hjgnakagfk Yf\ \]ZYl] k`Yh]\ hjae Yjadq Zq[gfl]ehgjYjq ^]Yjk gn]j ^]eYd] aeegjYdalq Yf\ na[]73 Y ^]Ylmj] l`YloYk lg h]jkakl o]dd aflg l`] lo]fla]l` []flmjq*

O`] kg[aYd hgdala[k g^ Q?6 -5,,)-5-4<k af eYfq gl`]j [gmflja]k \mjaf_ l`] ]Yjdq q]Yjk g^ l`] lo]fla]l`[]flmjq( l`] kg[aYd hgdala[k kmjjgmf\af_ Q? af N[gldYf\ [Ye] lg]fk`jaf] ZjgY\]j [gf[]jfk gn]j [`Yf_af_ klYf\Yj\k g^ kg[aYd Yf\

k]pmYd [gf\m[l( Yf\ l`] \]kaj] lg j]_mdYl] Yf\ kla_eYlar] \]naYfl Z]`Ynagmjk* Dkkm]k g^ hmZda[ `]Ydl`( hmZda[ gj\]j Yf\ hmZda[ egjYdalqo]j] af[j]Ykaf_dq [gf^dYl]\ af [gfl]ehgjYjq \]ZYl] gn]j Q? af N[gl)dYf\* Igl af^j]im]fldq( hjghgkYdk o]j] Y\nYf[]\ Zq Y ZjgY\ YddaYf[]g^ `]Ydl` Yml`gjala]k( kg[aYd hmjalq [YehYa_f]jk( eY_akljY[q Yf\ l`]hgda[] Yf\ o]j] af^gje]\ Yk em[` Zq egjYd Yfpa]la]k Yk Zq l`] e]\a)[Yd \ae]fkagfk g^ l`] hjgZd]e* Jf l`] gf] `Yf\( l`] kmhhj]kkagf g^na[] oYk k]]f Yk ]kk]flaYd ^gj \jYafaf_ l`] j]k]jngaj g^ n]f]j]Ydaf^][lagf* Jf l`] gl`]j `Yf\( l`] \ak[gmjk] kmjjgmf\af_ k]pmYd \ak]Yk]koYk ^j]im]fldq mk]\ lg nYda\Yl] oa\]j kg[aYd ^]Yjk Yf\ hjgk[jahlagfkg^ egjYd \]naYf[] Yf\ \]_]f]jYlagf( Yf\ l`] akkm] Yf\ aeY_]jq g^Q? k]jn]\ Yk hgo]j^md hjghY_Yf\Y ^gj l`] kg[aYd hmjalq egn]e]flaf alk im]kl lg egZadak] l`] [jaeafYd dYo lg j]_mdYl] hmZda[ egjYdalq*

Jf] kljYf\ g^ hgda[q eYcaf_ ^g[mkk]\ gf l`] f]]\ lg \]lYaf hjgk)lalml]k Yf\ gl`]j n]f]j]Yd j][a\anaklk ^gj l`] hjgl][lagf g^ hmZda[Yf\ jY[aYd `]Ydl` Yf\ l`] hj]k]jnYlagf g^ hmZda[ gj\]j* O`] >gflY_agmk?ak]Yk]k <[lk( Yddgoaf_ ^gj l`] [g]j[an] \]l]flagf Yf\ e]\a[Yd ]pY)eafYlagf g^ Yfq ogeYf kmkh][l]\ g^ Z]af_ Y hjgklalml] af []jlYaf k]Y)hgjlk Yf\ _Yjjakgf lgofk( `Y\ f]n]j Yhhda]\ af N[gldYf\* Cgo]n]j(oal`af l`] eYbgj N[gllak` [ala]k( kaeadYj l][`fgdg_a]k g^ hgo]j `Y\\]n]dgh]\ af Yf Yll]ehl lg j]\m[] l`] d]n]d g^ hjgklalmlagf* Pf\]jdg[Yd =mj_` Kgda[] <[lk( l`] hgda[]( af Ykkg[aYlagf oal` l`] dg[c o Yj\k+`gkhalYdk Yf\ j]^gjeYlgjq Ykqdmek( `Y\ gh]jYl]\ Y hgda[q g^ d]_Ydj]hj]kkagf Yf\ e]\a[g)egjYd j]_mdYlagf ^gj kmkh][l]\ hjgklalml]k*4

<^l]j -5,,( N[gllak` eY_akljYl]k Yf\ hmZda[ `]Ydl` [geeall]]kkgm_`l Y\\alagfYd hgo]jk lg \]lYaf hjgklalml]k Yf\ gl`]j `YZalmYdg^^]f\]jk g^ l`] \akkahYl]\ Yf\ \akkgdml] [dYkk af ^Yje [gdgfa]k( HY_)\Yd]f] Dfklalmlagfk( hggj`gmk]k Yf\ dg[c `gkhalYdk ^gj Yf YhhjghjaYl]h]jag\ g^ e]\a[Yd lj]Yle]fl Yf\ egjYd j]`YZadalYlagf*5 Bjgoaf_YoYj]f]kk g^ l`] \]_j]] g^ \]^Ymdl ^jge Q? lj]Yle]fl Zq Ydd]_]\dqhjgeak[mgmk qgmf_ _ajdk ( Yf\ l`] `a_` af[a\]f[] g^ j])af^][lagf afhYla]flk ^jge jYl])^mf\]\ `gkhalYdk( k]jn]\ lg ^m]d hmZda[ kmhhgjl ^gjkm[` [gfljgdk*-, < jYf_] g^ N[gllak` Kggj GYo H]\a[Yd J^^a[]jkkmZk]im]fldq hj]kk]\ ^gj kaeadYj hgo]jk af l`]aj ]na\]f[] Z]^gj] l`]MgqYd >geeakkagf gf l`] Kggj GYok Yf\ ]f\gjk]\ alk j][gee]f\Y)lagf l`Yl Yf gj\]j ^gj \]l]flagf k`gmd\ Z] gZlYafYZd] o`]f]n]jkm^^a[a]fl hjgg^ ak Y\\m[]\ l`Yl Yf af\ana\mYd km^^]jaf_ ^jge n]f]j]Yd\ak]Yk] ak Y \Yf_]j lg l`] [geemfalq *--

Df Y\\alagf( Ykqdme \g[lgjk km[` Yk O`geYk >dgmklgf Yf\ B]gj_]MgZ]jlkgf( K`qka[aYf)Nmh]jafl]f\]flk lg l`] MgqYd @\afZmj_` <kqdme([gf[]jf]\ Yl l`] jgd] g^ Q? af l`] hjg[]kk g^ mjZYf \]_]f]jYlagf (

) .3 )

Yf\ ]kh][aYddq Yl ]e]j_af_ ]na\]f[] g^ alk dafck oal` af^]jladalq Yf\_]f]jYd hYjYdqkak g^ l`] afkYf]( Yj_m]\ ^gj Y\\alagfYd hgo]jk g^ e]\a)[Yd \]l]flagf ^gj hjgklalml]k cfgof lg Z] [geemfa[Ylaf_ l`] \ak]Yk](Yk hYjl g^ Y ZjgY\]j hjg_jYee] g^ k]_j]_Ylagf g^ l`] kg[aYddq mf^al *-.Df hYjla[mdYj( Yf YhhYj]fl \akhjghgjlagfYl] jak] af ^]eYd] B*K*D* afkge] Ykqdme Y\eakkagfk `Y\ j]af^gj[]\ Yf ]e]j_af_ Ykkg[aYlagfoal`af l`] e]\a[Yd \ak[gmjk] kmjjgmf\af_ Q? Z]lo]]f ^]eYd] k]pmYdhjgeak[malq Yf\ egjYd aeZ][adalq *-/Ral`af l`ak \ak]Yk] eg\]d( hjgkl)alml]k `Y\ [ge] lg Z] h]j[]an]\ fgl bmkl Yk n][lgjk g^ \ak]Yk] Zml Yhjaf[ahYd kgmj[] g^ h`qka[Yd Yf\ egjYd \]_]f]jY[q*-0 Df Y\\alagf( l`]hjgeak[malq gj YeYl]mj hjgklalmlagf g^ ^]]Zd])eaf\]\ hjgZd]e_ajdk oYk af[j]Ykaf_dq a\]fla^a]\ Yk Y []fljYd l`j]Yl lg jY[aYd `]Ydl`*

O`] Gg[Yd Bgn]jfe]fl =gYj\ ^gj N[gldYf\ j]eYaf]\ ]nYkan] gfl`] akkm] g^ _]f]jYd hgo]jk g^ \]l]flagf ^gj hjgklalml]k( j]dm[lYfl lgZ][ge] afngdn]\ af l`] [gfl]flagmk hgdala[k g^ k]pmYd Yf\ egjYd Z])`Ynagmj( Yf\ k]fkalan] lg l`] ^]Yjk g^ kge] k][lagfk g^ l`] N[gllak`na_adYf[] Yf\ ^]eafakl egn]e]flk l`Yl l`] egj] \ak[jaeafYlgjq Ykh][lkg^ l`] >gflY_agmk ?ak]Yk]k <[lk ea_`l Z] j]kmjj][l]\* Cgo]n]j( aliSe hj]hYj]\ lg ]f\gjk] hjghgkYdk mf\]j l`] H]flYd ?]^a[a]f[q Yf\GmfY[q $N[gldYf\% <[l g^ -5-/ ^gj l`] afklalmlagfYdakYlagf g^ _ajdk o`g`Y\ [gfljY[l]\ Q? Yf\ o`g o]j] \]]e]\ Y jakc lg hmZda[ `]Ydl` Zqnajlm] g^ l`]aj ^]]Zd])eaf\]\f]kk gj egjYd aeZ][adalq *-1

Hgj]gn]j( o al` l`] gfk]l g^ l`] Aajkl Rgjd\ RYj( f]o aeh]lmkoYk Y\\]\ lg l`] hj]nagmk [YehYa_f Zq e]\a[Yd Yf\ hmjalq hj]kkmj]_jgmhk oal`af N[gldYf\ ^gj _j]Yl]j egjYd kmjn]addYf[] Yf\ j]_mdYlagfg^ ^]eYd] Y\gd]k[]flk Yf\ qgmf_ oge]f* O`] []fljYd Yf\ dg[Yd NlYl]kgm_`l lg [jaeafYdak] Yf\ lg hgda[] ^]eYd] hjgeak[malq( ]kh][aYddq l`Ylg^ l`] f]odq a\]fla^a]\ YeYl]mj Vhjgklalml]W( Ydd]_]\dq af\md_af_ af_jYlmalgmk Zml mfkY^] k]p( o`a[`( al oYk [dYae]\( l`j]Yl]f]\ lg mf\]j)eaf] l`] eYf`gg\ Yf\ ]^^a[a]f[q g^ l`] fYlagf* <k ]dk]o`]j] af l`]Pfal]\ Faf_\ge( fme]jgmk Ydd]_Ylagfk ]e]j_]\ af N[gldYf\ l`Ylqgmf_ oge]f o]j] af^]klaf_ eadalYjq [Yehk( hj]qaf_ mhgf kgd\a)]jk( Yf\ khj]Y\af_ Q?*-2 O`j]] eYaf kljYl]_a]k o]j] Y\ghl]\ lg ljqYf\ [gmfl]j l`ak h]j[]an]\ l`j]Yl lg l`] k]pmYd `q_a]f] Yf\ eadalYjq]^^a[a]f[q g^ ljgghk7 l`] Ye]f\e]fl g^ l`] >jaeafYd GYo( l`] aehgka)lagf g^ [gfljgdk mf\]j l`] ?]^]f[] g^ l`] M]Yde <[l( Yf\ l`] afljg\m[)lagf g^ oge]f hYljgdk*-3

Jhafagf af N[gldYf\ gn]j l`] >jaeafYd GYo <e]f\e]fl =addk g^-5-3 Yf\ -5-4 oYk \ana\]\* KmZda[ C]Ydl` >geeall]]k _]f]jYddqYhhjgn]\ g^ l`]aj j]hj]kkan] [dYmk]k Y_Yafkl hjgklalml]k Yf\ e]\a[Yd[dYmk]k h]fYdakaf_ l`] ljYfkeakkagf g^ Q?*-4Cgo]n]j( N[gllak` J^^a[]

) .4 )

g^^a[aYdk nga[]\ k]jagmk j]k]jnYlagfk* O`]q [gfka\]j]\ l`Yl( _an]f l`]kla_eY g^ [gfljY[laf_ Q?( ^]o h]ghd] ogmd\ Y[[mk] gl`]jk g^ ljYfkeal)laf_ l`] \ak]Yk]* Hgj] k]jagmkdq( al oYk ^]dl l`Yl km[` [g]j[an] e]Ykmj]kea_`l \]l]j km^^]j]jk ^jge k]]caf_ lj]Yle]fl Yl l`] f]o [dafa[k( Yf\l`Yl hjgklalml]k ogmd\ Ynga\ g^^a[aYd lj]Yle]fl []flj]k ^gj ^]Yj g^hjgk][mlagf* Hgj]gn]j( Yk af @f_dYf\( o`ad] oYflaf_ lg j]kljYaf Yf\j]egjYdak] YeYl]mjk Yf\ gl`]j hjgZd]e _ajdk ( eYfq N[gllak`oge]f#k gj_YfarYlagfk o]j] [gf[]jf]\ Yl l`] dac]dq \ak[jaeafYlgjqYkh][lk g^ hmfalan] hmjalq d]_akdYlagf*-5

O`]aj ^]Yjk `Y\ Ydj]Y\q Z]]f j]Ydak]\ af l`] YjZaljYjq mk] Zq eadalYjqYf\ hgda[] Yml`gjala]k g^ l`] ?]^]f[] g^ l`] M]Yde <[l $?*J*M*<*% lgj]_mdYl] l`] egn]e]fl Yf\ kg[aYd afl]j[gmjk] g^ oge]f*., Df nYjagmklgofk( [mj^]ok Yf\ \jafcaf_ j]klja[lagfk o]j] hdY[]\ gf oge]f( Yf\hgda[] kmjn]addYf[] g^ k]jna[]e]f#k oan]k Yml`gjak]\* ?m] lg `]Ynqhj]kkmj] ^jge oge]fk# gj_YfakYlagfk( []fljYd _gn]jfe]fl jmd]\ km[`[gfljgdk add]_Yd Zml ^j]k` j]_mdYlagfk mf\]j ?*J*M*<* kggf ]e]j_]\ afgj\]j lg hjgl][l l`] eadalYjq ^jge Q?* Df -5-2( ?*J*M*<* -/< kYf[)lagf]\ l`] ]phmdkagf g^ hjgklalml]k ^jge eadalYjq Yj]Yk Zml l`ak ^Yad]\lg Y\\j]kk l`] hjgZd]e g^ kg)[Ydd]\ YeYl]mjk * O`mk( af HYj[` -5-4(mf\]j egmflaf_ hj]kkmj] ^jge <dda]\ [geeYf\]jk lg hjgl][l l`]ajljgghk ^jge [gflYeafYlagf( l`] =jalak` _gn]jfe]fl afljg\m[]\ Y egj][gehj]`]fkan] M]_mdYlagf 0,? eYcaf_ al Yf g^^]f[] ^gj Yfq ogeYfkm^^]jaf_ ^jge Q? af Y [geemfa[YZd] ^gje lg `Yn] gj lg kgda[al k]pmYdafl]j[gmjk] oal` Yfq e]eZ]j g^ Cak HYb]klq#k Agj[]k*

Df hjY[la[]( l`] dYo gh]jYl]\ af n]jq kaeadYj oYqk lg l`] >gflY_agmk?ak]Yk]k <[lk* Df gj\]j lg ]klYZdak` l`]aj affg[]f[]( oge]f o]j] ^gj[]\lg mf\]j_g Y e]\a[Yd ]pYeafYlagf* >gfna[lagf j]kl]\ gfdq gf `Ynaf_afl]j[gmjk] o`ad] \ak]Yk]\( Yf\ \a\ fgl j]imaj] hjgg^ g^ Y[lmYd ljYfk)eakkagf* Igj oYk a_fgjYf[] g^ af^][lagf `]d\ lg Z] Y d]_alaeYl] \]^]f[](Yk l`j]] [Yk]k k]fl]f[]\ Z]^gj] @\afZmj_` N`]ja^^ >gmjl af <m_mkl-5-4 [d]Yjdq af\a[Yl]\* O`]j] oYk Y eYjc]\ YZk]f[] g^ kY^]_mYj\kY_Yafkl ojgf_^md Y[[mkYlagf( na[laearYlagf Yf\ af^jaf_]e]fl g^ [anaddaZ]jla]k* <k oal` l`] >jaeafYd GYo <e]f\e]fl =addk( ?*J*M*<* 0,?e]l oal` na_gjgmk ghhgkalagf ^jge daZ]jlYjaYf Yf\ ^]eafakl _jgmhk afN[gldYf\* Hgj]gn]j( _an]f l`] ^]o [Yk]k km[[]kk^mddq hjg[]]\]\Y_Yafkl( N[gllak` GYo J^^a[]jk [gfka\]j]\ l`Yl l`] [gkl af kg[aYd Yf\hgdala[Yd \akY^^][lagf g[[Ykagf]\ Zq l`] e]Ykmj] ^Yj gmlo]a_`]\ alkZ]f]^alk lg hmZda[ `]Ydl`( Yf\ \a\ fgl j][gee]f\ l`Yl al Z] h]jeYf]fldqaf[gjhgjYl]\ af l`] >jaeafYd GYo* AY[]\ Zq egmflaf_ ghhgkalagf afKYjdaYe]fl Yf\ l`] e]\aY( gj[`]kljYl]\ Zq l`] <kkg[aYlagf ^gj HgjYd

) .5 )

Yf\ Ng[aYd Cq_a]f]( Yf\ [gf[]jf]\ fgl lg Yda]fYl] ^mjl`]j l`] eYkk g^f]odq ]f^jYf[`ak]\ oge]f( l`] Bgn]jfe]fl j]ngc]\ l`] j]_mdYlagfaf Ign]eZ]j -5-4*.-

H]Yfo`ad]( ngdmflYjq oge]f hYljgdk `Y\ Z]]f gh]jYlaf_ af N[gl)dYf\ kaf[] l`] ]Yjdq egfl`k g^ -5-1 mf\]j l`] Ymkha[]k g^ l`] N[gllak`Pfagf g^ Rge]f Rgjc]jk( Yf\ oal` g^^a[aYd ZY[caf_ ^jge l`] N[gllak`J^^a[] Yf\ ^jge hgda[] Yf\ eadalYjq Yml`gjala]k* O`]q `Y\ mf\]jlYc]fkge] hgkalan] hjgl][lan] ogjc afngdnaf_ l`] hjgnakagf g^ j][j]Ylagf(ljYafaf_ Yf\ o]d^Yj] ^Y[adala]k ^gj _ajdk* Cgo]n]j( ^jge l`] gmlk]l( l`]ajhjaeYjq jgd] oYk gf] g^ egjYd kmjn]addYf[] Yf\ [gfljgd( lg ogjc afl`] f]a_`Zgmj`gg\ g^ [Yehk Yf\ gl`]j hdY[]k o`]j] ljgghk Vo]j]WZ]af_ ljYaf]\( oal` l`] gZb][l g^ e]]laf_ Yk ^Yj Yk hgkkaZd] l`] \a^^a[mdla]k[Ymk]\ Zq l`] hj]k]f[] g^ oge]f Yf\ _ajdk g^ dggk] Z]`Ynagmj * DfYkkg[aYlagf oal` l`] na_adYf[] Yf\ j]k[m] gj_YfakYlagfk Yf\ l`] hgda[](l`] hYljgdk kgm_`l lg [gflYaf l`] k]pmYd mj_]k g^ _ajdk \akaf`aZal]\ Zql`] ]p[al]e]fl g^ oYj Yf\ l`]aj YZadalq lg [gflYeafYl] l`] ^gj[]k*O`] kad]fl hj]k]f[] g^ hYljgdk gf eggfda_`l ]n]faf_k oYk \])ka_f]\ lg Zj]Yc mh \Yf_]jgmk daYakgfk af hYjck Yf\ Ydd]qk* Nmkh][l]\hjgklalml]k o]j] j]hgjl]\ lg l`] Yml`gjala]k Yk o]j] ^]eYd] k]pmYd \])dafim]flk o`g o]j] g^l]f afklalmlagfYdak]\ af ljYafaf_ `ge]k * DfhYjla[mdYj( YeYl]mjk kmkh][l]\ g^ Z]af_ n][lgjk g^ Q? o]j] a\]fla)^a]\ lg l`] hgda[] Yf\ ljggh [geeYf\]jk( Yf\ kgd\a]jk [gfkgjlaf_ oal`l`]e oYjf]\ g^ l`] hgl]flaYd jakck*..

Naf Yf\ km^^]jaf_ 6 Q? Yf\ ^]eYd] k]pmYd a\]flalq afafl]joYj N[gldYf\Df l`] na]o g^ afl]joYj N[gllak` `]Ydl` g^^a[aYdk( af^gje]\ Zq l`] kg)[aYd Yf\ e]\a[Yd a\]gdg_q g^ l`] Ng[aYd Cq_a]f] Hgn]e]fl( l`] na[agmk `YZalk Yf\ mfj]khgfkan]f]kk g^ qgmf_ oge]f lg lj]Yle]flj]_ae]k o]j] Zgl` aeegjYd Yf\ mf[d]Yf*./O`]aj hjgeak[malq( ZjgY\dq\]^af]\ Yk Yfq fgf)eYjalYd afl]j[gmjk] Yf\ af[j]Ykaf_dq \]ha[l]\oal`af l`] j`]lgja[ g^ hmZda[ `]Ydl` Yk YeYl]mj hjgklalmlagf( oYkna]o]\ Yk Y ^gje g^ k]pmYd YlYnake l`Yl mf\]jeaf]\ jY[aYd ^alf]kk Yf\ ]ngdmlagf*.0 O`]aj \]naYf[] ^jge [gfl]ehgjYjq ]ph][lYlagfk g^YhhjghjaYl] ^]eYd] k]pmYd Z]`Ynagmj oYk h]j[]an]\ fgl gfdq Yk Y []f)ljYd ^Y[lgj af l`] [gflafmaf_ khj]Y\ g^ n]f]j]Yd \ak]Yk] Zml Ydkg Yk Yl`j]Yl lg l`] `]Ydl` Yf\ klYZadalq g^ ^Yeadq Yf\ [geemfalq j]dYlagf)k` ahk(.1 Yf\ Q? H]\a[Yd J^^a[]jk mj_]\ l`Yl `]Ydl` Yf\ hgda[]Yml`gjala]k Z] _an]f hgo]jk lg \]lYaf hjgeak[mgmk k]pmYd \]dafim]flkaf `gkl]dk mflad l`]q o]j] Zgl` e]\a[Yddq [mj]\ Yf\ ]ehdgqYZd]*.2

Gac]oak]( o`ad] eglanYl]\ af hYjl Zq [gf[]jf Yl l`] aehY[l mhgf ^Yeadq`]Ydl` g^ eYd] \]^Ymdl ^jge lj]Yle]fl( l`] YZgjlan] afl]joYj [YehYa_faf N[gldYf\ ^gj l`] [gehmdkgjq fgla^a[Ylagf Yf\ lj]Yle]fl g^ Q? oYk^m]dd]\ Zq Y \]kaj] lg [gflYaf l`] k]pmYd j][a\anake g^ oge]f*

<k ]dk]o`]j]( ^]eYd] \]^Ymdl \m] lg e]\a[Yd gj dg_akla[Yd j]YkgfkoYk g^l]f hj]k]fl]\ Yk oad^mdf]kk gj na[agmkf]kk h][mdaYj lg ^]eYd]k]pmYd hjg[danala]k* Df Y\\alagf( Yk ]m_]fa[ a\]gdg_q _Yaf]\ [mjj]f[q(oge]f o`g ]nY\]\ lj]Yle]fl o]j] af[j]Ykaf_dq kla_eYlak]\ Yk eg)jYd aeZ][ad]k o`gk] Ydd]_]\ e]flYd \]^a[a]f[q hgk]\ Y eYbgj l`j]Ylg^ jY[aYd \]_]f]jYlagf* Pf\]j l`] -5-/ H]flYd ?]^a[a]f[q <[l( eYfqo]j] af[Yj[]jYl]\ ^gj q]Yjk af HY_\Yd]f] <kqdmek Yf\ e]flYd afkla)lmlagfk $Yk o]j] l`]aj add]_alaeYl] \Ym_`l]jk% af gj\]j lg [d]Yfk] l`]`]j]\alYjq lYafl g^ aeegjYdalq*.3 O`] jYf_] g^ fgf)klYlmlgjq ^gddgo)mh hjg[]\mj]k Y\ghl]\ Zq Q? [dafa[k lg j]\m[] d]n]dk g^ \]^Ymdl Yf\j])af^][lagf o]j] Ydkg `a_`dq _]f\]j kh][a^a[* H]f o]j] fgl fgjeYddqkmZb][l]\ lg \gea[adaYjq nakalk Zq kg[aYd Ydegf]jk fgj l`] lYj_]l g^ l`]kYe] afn]kla_Ylagf Yf\ kg[ag)e]\a[Yd kmjn]addYf[]( Yf\ afkg^Yj Yk Q?[dafa[k ^gje]\ hYjl g^ l`] f]o `q_a]f] g^ l`] ?akh]fkYjq ^g[mkaf_mhgf hYll]jfk g^ kg[aYd [gflY[l Yf\ ljYfkeakkagf( al oYk hj]\geafYfldq^]eYd] k]pmYd Z]`Ynagmj l`Yl oYk egfalgj]\*

Hgj]gn]j( Q? hjghY_Yf\Y oYk ^ajedq k`Yh]\ Zq Y eYd])hjg\m[]\\ak[gmjk] Yf\ Zgl` ][`g]\ Yf\ j]af^gj[]\ hj]nYadaf_ \gmZd] klYf\Yj\kg^ k]pmYd egjYdalq* <k af gl`]j [gmflja]k( N[gllak` hjghY_Yf\YeYl]jaYdk o]j] Y[ml]dq _]f\]j]\ af l`]aj j]hj]k]flYlagf g^ l`] [Ymk]kYf\ khj]Y\ g^ n]f]j]Yd af^][lagf* O`]q [geegfdq j]hj]k]fl]\ k]pmYddqY[lan] oge]f Yk l`] eYbgj kgmj[] Yf\ n][lgj g^ af^][lagf( YdZ]al oal`Y kljgf_ k`a^l af ^g[mk ^jge hjg^]kkagfYd hjgklalml]k lg kg)[Ydd]\ YeYl]mjk 7 qgmf_ oge]f o`g `Y\ [YkmYd k]p gf Y fgf)h][mfaYjqZYkak Yf\ o`gk] Ydd]_]\ af\a^^]j]f[] lg `]Ydl` hj][Ymlagfk j]f\]j]\l`]e l`] egj] najmd]fldq af^][lagmk*.4

Df [gfljYkl( e]f o]j] lqha[Yddq j]hj]k]fl]\ Yk l`] j][aha]flk g^\ak]Yk]* Nge]lae]k( af d]Y^d]lk km[` Yk IZW HWSXSdWd!e 8ZSdf aX =WS^fZkBS`ZaaV$ gj ^adek km[` Yk 9WXWddWV ESk_W`f$ e]f#k k]pmYd af\ak[j]lagfko]j] [d]Yjdq a\]fla^a]\ Yk Y l`j]Yl lg ^Yeadq Yf\ jY[aYd `]Ydl`( Zml]n]f o`]j] eYd] [mdhYZadalq iSe ]eh`Ykak]\( l`] hjgklalml] gj [YkmYd_gg\)lae] _ajd j]eYaf]\ l`] [gfklYfl hgafl g^ j]^]j]f[] Yk l`] jgglkgmj[] g^ Q?* H]f o]j] jYj]dq \]ha[l]\ Yk oad^mddq ]nad n][lgjk g^af^][lagf* Hgj] mkmYddq( hjghY_Yf\Y hgjljYq]\ l`] [gfljY[lagf g^ Q?Zq e]f Yk Y ^mf[lagf g^ a_fgjYf[] Yf\ eak_ma\]\ kmk[]hlaZadalq lg l`]Yll]flagfk g^ hj]\Ylgjq oge]f( ]kh][aYddq o`]f l`]aj egjYd af`aZalagfk

) /- )

o]j] dggk]f]\ Zq Yd[g`gd* @n]f o`]j] l`] \]egjYdarYlagf g^ Y ogeYf`Y\ Z]]f [Ymk]\ Zq eYd] ]phdgalYlagf( al oYk l`] dgkk g^ ^]eYd] [`Yklalql`Yl oYk `]d\ lg Z] []fljYd lg l`] khj]Y\ g^ \ak]Yk]*.5

Ral`af l`ak hj]k]flYlagf g^ l`] [Ymk]k Yf\ \a^^mkagf g^ Q?( kg[aYd`q_a]f] hjghY_Yf\Y Zgl` j]^d][l]\ Yf\ j]Y^^aje]\ hgo]j^md Ykkmeh)lagfk YZgml l`] fYlmj] Yf\ kg[aYddq \]kajYZd] Zgmf\Yja]k g^ ^]eYd]k]pmYdalq* Rge]f o]j] Y[[gj\]\ Y klja[ldq daeal]\ k]l g^ k]pmYd jgd]k*O`]q [gmd\ ]al`]j ghl ^gj l`] hYkkan] k]pmYdalq g^ l`] oa^] Yf\ egl`]j(gj Yk k]pmYd afalaYlgj( Z] kla_eYlar]\ Yk Y hjgklalml] Yf\ l`] j]k]jngajg^ \ak]Yk]* O`]j] oYk fg Y[[]hlYZd] kh`]j] ^gj fgf)eYjalYd ^]eYd]k]pmYd Y[lanalq( o`a[` oYk [d]Yjdq \]^af]\ Zq kg[aYd `q_a]faklk Yk\ak]Yk]\ Yf\ hYl`gdg_a[Yd* C]Ydl`q ^]eYd] k]pmYdalq oYk a\]fla^a]\oal` j]hjg\m[lagf Yf\( oal`af Q? hjghY_Yf\Y( hgkalan] \]ha[lagfkg^ oge]f Yk k]pmYd hYjla[ahYflk o]j] YdoYqk Y[[gehYfa]\ Zq aeY_]kg^ [`ad\j]f Yf\ egl`]j`gg\*

NaeadYjdq( al oYk [gf^gjealq Zq oge]f lg l`] a\]Ydk g^ [`Yklalq Yf\eYl]jfalq l`Yl( Y[[gj\af_ lg l`] kg[aYd `q_a]f] egn]e]fl( oYk [jala[Ydaf l`] [gflYafe]fl g^ Q? Yf\ l`] hj]k]jnYlagf g^ jY[aYd `]Ydl`( Yf\ aloYk mhgf oge]f l`Yl l`] j]khgfkaZdalq ^gj eYaflYafaf_ l`] egjYdafl]_jalq g^ kg[a]lq oYk hjaeYjadq \]ngdn]\* Oqha[Yd oYk l`] afbmf[)lagf g^ HYjq N[Yjda]Z( af `]j d][lmj]k ^gj l`] IYlagfYd >gmf[ad ^gj>geZYlaf_ Q]f]j]Yd ?ak]Yk] Yf\ l`] <ddaYf[] g^ Cgfgmj( l`Yl 6 O`]e]f Yj] o`Yl l`] oge]f eYc] l`]e Yf\ mfd]kk l`] oan]k Yf\egl`]jk g^ l`] [gmfljq \g l`]aj \mlq( Yf\ mh`gd\ l`] klYf\Yj\ g^hmjalq( l`] fYlagf *** Yf\ gmj eY_fa^a[Yfl ]ehaj] emkl ^gddgo l`]]ehaj]k g^ gd\]f \Yqk aflg mll]j jmaf */, Nm[` k]flae]flk( h]jh]lmY)laf_ l`] Ykkmehlagf l`Yl eYd] k]d^)[gfljgd oYk hjgZd]eYla[( Yf\ l`Yll`]aj egjYd Z]`Ynagmj oYk mdlaeYl]dq l`] j]khgfkaZdalq g^ l`]aj ^]eYd]hYjlf]jk( o]j] ^j]im]fldq Yaj]\ af kg[aYd `q_a]f] d]Y^d]lk km[` Yk =ai<[d^e 8S` =W^b( Yf\ ^adek km[` Yk IZW :`V aX fZW GaSV* Na_fa^a[Yfldq(d][lmj]jk o]j] j][gee]f\]\ lg [dgk] oal` Y kda\] g^ l`] HY\gffYYf\ Y ^]o ogj\k gf l`] hgo]j g^ ogeYf`gg\ lg kYn] l`] f]pl _])f]jYlagf l`jgm_` l`] hmjalq Yf\ _gg\ g^ ogeYf#k da^] */-

O`] ]ph]ja]f[] g^ Q? oYk Ydkg ]phj]kk]\ af _]f\]j)kh][a^a[ l]jek*R`ad] eYd] ka[cf]kk oYk g^l]f j]hj]k]fl]\ af l`] [gfl]pl g^ eYfhgo]jf]]\k Yf\ jY[aYd ]^^a[a]f[q( al oYk Ydkg hgjljYq]\ Yk Yf af\ana\mYd\akYkl]j gf alk gof l]jek* Df [gfljYkl( oge]f#k n]f]j]Yd addf]kk]k o]j]YdoYqk dafc]\ lg eYl]jfalq( ]al`]j Zq j]^]j]f[] lg kl]jadalq gj lg l`]hj]k]f[] g^ [gf_]falYddq add [`ad\j]f* O`] ]eglagfYd Yhh]Yd g^ l`] hjg)hY_Yf\Y oYk \aj][l]\ fgl Yl l`] \akYZadala]k g^ l`] egl`]j Zml Yl l`]ka[cf]kk g^ l`] [`ad\ Yf\ ]kh][aYddq l`] \]_]f]jYlagf g^ l`] ^Yeadq*/.

) /. )

O`] k]pmYd `]Ydl` g^ l`] kaf_d] ogeYf oYk gfdq Y[[gj\]\ Y k]hYjYl]a\]flalq Yk Y kgmj[] Yf\ [Yjja]j g^ n]f]j]Yd \ak]Yk]( gj Yk Y ^mf[lagf g^ egjYd aeZ][adalq * NaeadYjdq( o`ad] af^gjeYlagf d]Y^d]lk ^gj e]fklj]kk]\ l`]aj j]khgfkaZadalq ^gj l`]aj gof h`qka[Yd Yf\ e]flYd]^^a[a]f[q Yf\ ^gj l`] `]Ydl` g^ l`]aj ^Yeada]k( $af[dm\af_ l`]aj ^Yal`^mddq[`Ykl] ^mlmj] Zja\]k%( fg j]^]j]f[] oYk eY\] lg l`] `]Ydl` g^ l`]ajk]pmYddq Y[lan] _ajd^ja]f\k gj [gfkgjlk* Hgj]gn]j( o`ad] e]f ea_`lj]`YZadalYl] l`]ek]dn]k Zq [gehdaYf[] oal` hjg^]kkagfYd lj]Yle]fl(kaf_d] oge]f j]eYaf]\ h]jeYf]fldq lYafl]\ Zq l`]aj k]pmYd afalaY)lagf( fgloal`klYf\af_ l`]aj e]\a[Yd [mj]*

CYjha]k Yf\ =dY[c)Jml Bajdk 6 RYj Yf\ l`]]ha\]eagdg_q g^ Q?-5/5)01<k af l`] Aajkl Rgjd\ RYj( ?]^]f[] M]_mdYlagfk \mjaf_ l`] N][gf\Rgjd\ RYj af N[gldYf\ a\]fla^a]\ l`] [gfkgjlk g^ k]jna[]e]f Yk l`][jala[Yd n][lgjk g^ \ak]Yk] Yf\ kaf_d]\ gml ^gj klYlmlgjq [gfljgdk l`] YeYl]mj hjgklalml]k gj _gg\ lae] _ajdk kmhhgk]\dq k]]caf_ Yf\\akh]fkaf_ mfkY^] k]p( o`g o]j] \]]e]\ lg [gfklalml] Y eYbgj l`j]Yllg l`] `]Ydl` Yf\ eadalYjq ]^^a[a]f[q g^ l`] fYlagf*// <dl`gm_` l`]fglgjagmk ?]^]f[] M]_mdYlagf 0,? g^ -5-4 oYk fgl j]f]o]\( ?]^]f[]M]_mdYlagf //= g^ -50. oYk ]phda[aldq \]ka_f]\ lg lYj_]l Y \Yf_]jgmkeafgjalq g^ af^][l]\ oge]f gj kg)[Ydd]\ YeYl]mjk * Df afljg\m[af_fgla^a[Ylagf ^gj [gflY[lk fYe]\ Zq log gj egj] hYla]flk Yk l`] kgmj[]g^ af^][lagf( Yf\ h]fYd kYf[lagfk ^gj km[` [gflY[lk o`g j]^mk]\ lgkmZeal lg e]\a[Yd ]pYeafYlagf Yf\ lj]Yle]fl( l`] ?]hYjle]fl g^C]Ydl` ^gj N[gldYf\ oYk j]khgf\af_ lg l`] [Ydd ^jge hmZda[ `]Ydl`g^^a[aYdk ^gj e]Ykmj]k lg j]kljYaf l`] `Yjha]k o`g hj]qV]\W gf N]j)na[] e]f Yf\ l`] ZdY[c)gml _ajdk o`gk] egjYd \]dafim]f[q oYkl`j]Yl]faf_ l`] oYj ]^^gjl Yf\ l`] fYlagfYd egjYd ^aZj] * Jf[] Y_Yaf(k]pmYddq Y[lan]( mfeYjja]\ ^]eYd]k o]j] \]^af]\ Yk l`] hggd g^ n]f])j]Yd af^][lagf Yf\ al oYk [d]Yjdq Ykkme]\ l`Yl af^gjeYflk ogmd\ Z]hj]\geafYfldq eYd] k]jna[]e]f o`g `Y\ aeh]lmgmkdq \ahh]\ aflg al*

Kj]\a[lYZdq( \mjaf_ l`] h]jag\ -50/)03( ?]^]f[] M]_mdYlagf //=oYk gh]jYl]\ gn]jo`]deaf_dq Y_Yafkl oge]f Zq eadalYjq Yml`gjala]kaf gj\]j lg hjgl][l l`] `]Ydl` Yf\ ]^^a[a]f[q g^ l`]aj eYd] ljgghk*/0 Dfl`] hjgk][mlagfk l`Yl o]j] `]d\( `]Ydl` g^^a[aYdk Yf\ eY_akljYl]k[gflafm]\ lg ]f\gjk] Y \gmZd] egjYd klYf\Yj\( o al` af^][l]\ e]fZ]af_ \]ha[l]\ Yk na[laek Yf\ l`]aj ^]eYd] [gfkgjlk Yk k]pmYdhj]\Ylgjk* A]eYd] \]^]f\Yflk `Y\ l`]aj Ydd]_]\ hjgeak[malq hYjY\]\Z]^gj] l`] [gmjlk Yf\ e]\aY oal`gml Yfq ghhgjlmfalq lg ]klYZdak` l`]aj

) // )

affg[]f[] Z]qgf\ kmZeallaf_ lg e]\a[Yd ]pYeafYlagf( o`ad] eYd]af^gjeYflk( o`g ea_`l g^l]f Z] `a_`dq hjgeak[mgmk( o]j] f]al`]jd]_Yddq j]imaj]\ lg Yll]f\ [gmjl hjg[]]\af_k fgj lg kmZe al lg Yhj]k[jaZ]\ j]_ae] g^ lj]Yle]fl* Hgj]gn]j( Yk af gl`]j [gmflja]k km[`Yk >YfY\Y Yf\ l`] P*N*<*(/1 l`ak \gmZd] klYf\Yj\ oYk nakaZdq j]af)^gj[]\ Zq l`] hgkl]jk Yf\ gl`]j hjghY_Yf\Y eYl]jaYdk akkm]\ Zq hmZ)da[ `]Ydl` Yml`gjala]k hgjljYqaf_ Y \]egfgdg_q g^ Q? ^jge o`a[` eYd]^a_mj]k o]j] fglYZdq YZk]fl*/2

NaeadYjdq( j]f]o]\ Yll]ehlk lg j]_mdYl] Y\gd]k[]fl k]pmYd h]j)eakkan]f]kk( af^dYe]\( Y[[gj\af_ lg hmZda[ `]Ydl` g^^a[aYdk( Zq l`] ZdY[cgml ( Zq Zgj]\ge Yf\ Zq l`] dY[c g^ ]eglagfYd [gfljgd af [gf\a)lagfk g^ klj]kk ( o]j] `a_`dq _]f\]j kh][a^a[* Ia_`l [mj^]ok Yf\ a\]flalq[Yj\k o]j] hjghgk]\ ^gj eafgjk Yk Y e]Yfk g^ j]klja[laf_ l`] egn]e]flg^ k]pmYddq hjgeak[mgmk _ajdk( ]kh][aYddq af l`] na[afalq g^ jYadoYqklYlagfk* O`]j] oYk Yf ]k[YdYlagf af l`] mk] g^ j]eYf\ `ge]k Zq l`]hgda[] Yf\ hmZda[ `]Ydl` Yml`gjala]k af gj\]j lg \]lYaf ^]eYd] bmn]fad]kafngdn]\ af egjYd g^^]f[]k* AafYddq( afkl]Y\ g^ l`] [j]Ylagf g^ Rge]fKYljgdk Yk af l`] ^ajkl Rgjd\ RYj( \mjaf_ l`] N][gf\ Rgjd\ RYj(j]daYf[] oYk hdY[]\ af BdYk_go Yf\ @\afZmj_` mhgf mfalk g^ l`]Rge]f#k <mpadaYjq Kgda[] >gjhk \]\a[Yl]\ lg l`] kmjn]addYf[] g^ l`][gf\m[l g^ qgmf_ _ajdk Yf\ lg l`]aj k]_j]_Ylagf ^jge N]jna[]e]f*

@f_]f\]jaf_ Q? af l`] K]jeakkan] Ng[a]lq 6 -504)4,O`] []fljYd ]phdYfYlgjq [gf[]hlk af^gjeaf_ e]\a[Yd Yf\ hmZda[ \]ZYl]gn]j l`] jak] g^ Q?+NO?k af hgkl)o Yj N[gldYf\ o]j] k]pmYdhjgeak[malq Yf\ h]jeakkan]f]kk * O`] jgd] g^ hjgklalmlagf( oal` alk]ha\]eagdg_a[Yd eaf\)k]l g^ Y keYdd [dmkl]j g^ ^][cd]kk Yf\ na[agmkn][lgjk( j]eYaf]\ Y d]al eglan g^ hmZda[ `]Ydl` j]hgjlk( Zml al oYkkl]Y\adq kmh]j[]\]\ Zq l`] kh][lj] g^ oa\]khj]Y\ [YkmYd k]p Yf\ Yf]f\d]kk [`Yaf g^ af^][lagf*

Cgo]n]j( Yk hj]nagmkdq( hgkl)oYj egjYd hYfa[ kmjjgmf\af_ l`]k]pmYd `q_a]f] g^ l`] qgmf_ []flj]\ gf l`] k]pmYd hjgeak[malq g^l]]fY_] _ajdk Yf\ qgmf_ oge]f* O`] hgl]fl aeY_] g^ YkqehlgeYla[(hjgeak[mgmk _ajdk Yk j]k]jngajk g^ af^][lagf `Ymflaf_ [Y^]k( hmZk([af]eYk Yf\ \Yf[]`Yddk oYk oa\]dq hjgb][l]\ af l`] e]\aY Yf\ hmZ)da[ `]Ydl` dal]jYlmj]*/3O`] dYf_mY_] g^ hmZda[ `]Ydl` ]ha\]eagdg_q kladdhj]k]fl]\ Y dYj_]dq hYkkan] jgd] ^gj eYd] k]pmYdalq* <[[gj\af_ lg k])fagj n]f]j]gdg_aklk af @\afZmj_` Yf\ BdYk_go( al oYk ^]eYd] Y\gd])k[]fl hjgeak[malq l`Yl [gfklalml]\ l`] j]Yd \Yf_]j Yf\ Y [gf)ka\]jYZd] fmakYf[] Yf\ \Yf_]j lg k]Ye]f( k]jna[]e]f( Yf\ ead\dq

) /0 )

aflgpa[Yl]\ qgm l`k */4 O`ak Ykqee]ljq af h]j[]hlagfk g^ k]pmYdZ]`Ynagmj Yf\ \ak]Yk] oYk hgo]j^mddq j]^d][l]\ af [gfl]ehgjYjqYfYdqk]k g^ l`] kgmj[]k g^ af^][lagf( o`a[` ]fk`jaf]\ l`] [gf[]hl g^oge]f Yk l`] hjg)Y[lan] hg ddm l] jk o]dd aflg l`] -52,k* O`mk(@\afZmj_`#k KmZda[ C]Ydl` ?]hYjle]fl j]hgjlk lYZmdYl]\ l`]k] kgmj[]kYk ^gddgok6

HYd] Df^][lagf A]eYd] Df^][lagf

<fq j]^]j]f[] lg eYd] [da]flk gj [gfkgjlk oYk ka_fa^a[YfldqYZk]fl* @imYddq fgl]YZd] ak l`] j]l]flagf g^ Y lYpgfgeq l`Yl j]lYafkl`] `a_`dq kla_eYla[ l]je YeYl]mj VhjgklalmlagfW ^gj fgf)eYjalYd^]eYd] k]pmYd ]f[gmfl]jk* R al`af l`] kg[ag)e]\a[Yd a\]gdg_q g^n]f]j]gdg_aklk km[` Yk MgZ]jl G]]k( k]pmYddq Y[lan] _ajdk [gflafm]\ lgZ] na]o]\ Yk \]naYfl Yf\ j]_j]kkan]*

Hgj]gn]j( l`] ]e]j_]f[] g^ Y egj] kg[aYd k[a]fla^a[ afl]jhj]lYlagfg^ k]pmYd Z]`Ynagmj Yf\ \ak]Yk] af l`] -52,k Yf\ -53,k k]jn]\ af eYfqoYqk lg j]af^gj[] l`ak hYl`gdg_a[Yd na]o g^ ^]eYd] Y\gd]k[]fl k]pmYdalq*N]pmYd hjge ak[malq Yf\ Q?+NO?k Yegf_ l]]fY_] _ajdk Z][Ye]af[j]Ykaf_dq a\]fla^a]\ oal` Y kqf\jge] g^ \aklaf[lan]dq ^]eYd] bmn]fad]\]dafim]f[q Yf\ j]ngdl*/5R`]j]Yk Zgqk af\md_]\ af \jafc( nYf\YdakeYf\ _Yf_ nagd]f[]( _ajdk o]j] \]]e]\ lg eYfa^]kl l`]aj Yfla)kg[aYdmj_]k hjaeYjadq l`jgm_` hjgeak[malq( oal` l`] ]n]j)oaddaf_ l]]fY_]_ajd Z]af_ l`] ^]eYd] ]imanYd]fl g^ l`] kcaf`]Y\ af `ak Zgnn]jZgglk *0, Ng[aYd hkq[`gdg_aklk Ydkg j]kmjj][l]\ l`] dafcY_]k Z]lo]]fQ?( k]pmYd h]je akkan]f]kk Yf\ e]flYd afklYZ adalq l`Y l `Y\ kghgo]j^mddq k`Yh]\ afl]j)oYj j]khgfk]k lg hjgZd]e _ajdk * <[[gj\af_lg h]jkgfYdalq klm\a]k g^ Q? hYla]flk( hjgeak[mgmk ^]eYd]k Yll]f\af_l`] [dafa[k \akhdYq]\ Y `a_` \]_j]] g^ f]mjgla[ake Yf\ hkq[`gla[ake *0-

Df]nalYZdq( l`] \]ZYl] kmjjgmf\af_ ^]eYd] k]pmYdalq Yf\ l`] af[a)\]f[] g^ Q?+NO?k _Yn] hjgeaf]f[] lg l`] af[j]Ykaf_ mk] Zq _ajdkYf\ qgmf_ oge]f g^ l`] hadd Yf\ alk aehda[Ylagfk ^gj hjgeak[malqYf\ j]\m[]\ hjgl][lagf ^jge \ak]Yk]* N]n]jYd j]k]Yj[` afn]kla_Ylagfkaf l`] ]Yjdq -53,k( o`ad] j]n]Ydaf_ Y \jYeYla[ jak] af l`] fmeZ]j g^hYla]flk mkaf_ [gfljY[]hlan] l][`faim]k( ^gmf\ dalld] [gjj]dYlagfZ]lo]]f l`] mk] g^ l`] gjYd [gfljY[]hlan] hadd( l`] fmeZ]j g^ k]pmYdhYjlf]jk( Yf\ Y hgkalan] \aY_fgkak ^gj Q?+NO?k* Df hYjl( l`ak oYkYlljaZml]\ lg l`] ^Y[l l`Yl l`] mk] g^ km[` [gfljY[]hlagf aehda]\ Y

hjgklalml]k YeYl]mj lqh]k eYjalYd hYjlf]j

hjgklalmlagfhjgeak[mgmk YeYl]mj [gflY[l

eYjalYd hYjlf]j

) /1 )

\]_j]] g^ j]khgfkaZadalq Yf\ [Yj] fgl oa\]dq gZk]jn]\ Zq l`gk] Yl jakc *0.Cgo]n]j( l`] ZjgY\ [gfk]fkmk Yegf_kl kg[aYd [gee]flYlgjk Yf\e]\a[Yd hjY[lalagf]jk oYk l`Yl l`] hadd `Y\ jY\a[Yddq Ydl]j]\ hYll]jfkg^ ^]eYd] k]pmYd Z]`Ynagmj( l`mk hjgeglaf_ k]pmYd hjgeak[malq Yf\\ak]Yk]* <[[gj\af_ lg MgZ]jl Hgjlgf( Kj]ka\]fl g^ l`] H]\a[Yd Ng)[a]lq ^gj l`] Nlm\q g^ Q]f]j]Yd ?ak]Yk]k( l`] hadd oYk l`] egkl\Yf_]jgmk g^ l`] hgddmlaf_ h]kla[a\]k Yf\ alk mk] egj] [YdYealgmkl`Yf Yfql`af_ hj][ahalYl]\ Zq l`Yda\gea\] *0/ Df `ak na]o( o`a[` oYkk`Yj]\ Zq l`] =*H*<* Yf\ gl`]j e]\a[Yd Yml`gjala]k( al eY\] l`] h]jeakkan] kg[a]lq Y hjY[la[Yd j]Ydalq Yf\ oYk l`] hjaeYjq ^Y[lgj afZjaf_af_ l`] eYd])^]eYd] jYlagk g^ j][gj\]\ af^][lagf( ]kh][aYddq g^_gfgjj`g]Y( egj] lgoYj\k mfalq* Gac]oak]( >*=*N* N[`g^a]d\( [gfkmdlYfln]f]j]gdg_akl Yl l`] MgqYd Df^ajeYjq BdYk_go( na]o]\ l`] jak] af Q?+NO?k Yk dYj_]dq Y ^mf[lagf g^ l`] \akaf`aZalaf_ ]^^][lk g^ l`] hadd gf^]eYd] k]pmYdalq( af l`Yl oge]f Yk o]dd Yk e]f V[gmd\W kgo l`]ajoad\ gYlk oal`gml ^]Yj g^ hj]_fYf[q *00

Df N[gldYf\( l`] dafcY_] Z]lo]]f l`] hadd Yf\ l`] jak] af NO?k oYk[]fljYd lg l`] ZjgY\]j [YehYa_f g^ l`] >`mj[`]k Y_Yafkl l`] ]pl]f)kagf g^ ^Yeadq hdYffaf_ hjgnakagfk ^gj kaf_d] oge]f Yf\ _ajdk*<[[gj\af_ lg l`] Aj]] >`mj[`#k >geeall]] gf KmZda[ Lm]klagfk( M]da)_agf Yf\ HgjYdk( af[j]Ykaf_ k]pmYd \ak]Yk] oYk \m] lg C]j HYb]klq#kBgn]jfe]fl*** l`jgoaf_ gh]f l`] ^dgg\)_Yl]k lg ^gjfa[Ylagf( Y\mdl]jqYf\ hjgeak[malq( eYcaf_ l`]e jakc)^j]] gf l`] I*C*N *01 Df kaeadYjn]af( al Yj_m]\ l`Yl af hjgeglaf_ Y h]jeakkan] da^] klqd] ( l`] j]Y\qYnYadYZadalq g^ l`] [gfljY[]hlan] hadd `Y\ nagdYl]\ l`] kYf[lalq Yf\Z]Ymlq g^ k]p Yf\( af l`] [jakak g^ ]k[YdYlaf_ Q? jYl]k( j]Yh]\ l`]o`ajdoaf\ ^gj `Ynaf_ kgof lg l`] oaf\ *02 Nm[` na]ok ][`g]\ l`][gf[]jfk Yf\ Ykkmehlagfk fgl gfdq g^ l`] gl`]j N[gllak` [`mj[`]k ZmlYdkg g^ l`] HgjYd Ma_`l oal`af N[gllak` hmZda[ `]Ydl` \]ZYl]k g^ l`]]Yjdq -53,k*03O`] >`YajeYf g^ @\afZmj_`#k KmZda[ C]Ydl` >geeall]]mk]\ kaeadYj Yj_me]flk af `]j [YehYa_f lg ^jmkljYl] l`] ]pl]fkagf g^^Yeadq hdYffaf_ hjgnakagfk( Yk \a\ l`] N[gllak` Ogjq >gf^]j]f[] af]f\gjkaf_ Y eglagf \]fgmf[af_ o`Yl al h]j[]an]\ lg Z] Y _]f]jYdZj]Yc\gof g^ hmZda[ gj\]j Yf\ hmZda[ egjYdalq*04

O`ak _]f\]j Ykqee]ljq af l`] ]ha\]eagdg_q g^ hgkl)oYj Q?+NO?koYk \mdq j]^d][l]\ af l`] [gfljgd kljYl]_a]k g^ N[gllak` `]Ydl` Yml`gjala]k*<dl`gm_` f]o hjghgkYdk ^gj [gehmdkgjq fgla^a[Ylagf Yf\ \]lYafe]flg^ af^][l]\ h]jkgfk o]j] Y_Yaf j]b][l]\( ka_fa^a[Yfl kljYf\k g^ kg[ag)e]\a[Yd [gfljgd \a\ h]jkakl af hgkl)oYj N[gllak` Q? Y\eafakljYlagf\aj][l]\ Yl hYjla[mdYj _jgmhk g^ Ydd]_]\ ^]eYd] n][lgjk* O`]j] oYk Y[gflafmaf_ Yfpa]lq lg ]fkmj] l`Yl hjgklalml]k o]j] Y\]imYl]dq lj]Yl]\*

) /2 )

M*>*G* =Yl[`]dgj( K`qka[aYf)af)>`Yj_] g^ @\afZmj_`#k Q? N]jna[]k(`Y\ [gfka\]jYZd] kqehYl`q oal` l`] hjgh`qdY[lgjaY g^ afl]j)oYj Mmk)kaY af o`a[` hjgklalml]k o]j] afklalmlagfYdak]\ ^gj lj]Yle]fl Yf\ eg)jYd j]`YZadalYlagf*05 <dgf_ oal` gl`]j [dafa[aYfk o`gk] a\]gdg_q oYkk`Yh]\ Zq hj])oYj ]m_]fa[k Yf\ l`] kg[aYd `q_a]f] egn]e]fl( `][gflafm]\ lg a\]fla^q hjge ak[malq Yf\ hjgklalm lagf o al` e]flYd\]^a[a]f[q Yf\ lg Y\ng[Yl] l`] fgla^a[Ylagf Yf\ [gf^af]e]fl g^ eg)jYd \]^][lan]k ^gj l`] hmjhgk]k g^ j]\m[af_ l`] j]k]jngaj g^ af^][lagfoal`af l`] [geemfalq*1,Cak km[[]kkgj( MgZ]jl G]]k( Ydkg Y\ng[Yl]\ Yegj] na_gjgmk hgda[q lgoYj\k hjgklalmlagf af l`] afl]j]klk g^ kg[aYd`q_a]f]( gZk]jnaf_ lg l`] H]\a[Yd Ng[a]lq ^gj l`] Nlm\q g^ Q]f]j]Yd?ak]Yk]k l`Yl6

O`] hjgZd]e g^ hjgklalmlagf ak fgl afkgdmZd] Yf\ lgd]jYlagf ak l`]j]Ykgf ^gj alk ^dgmjak`af_* Dl `Yk Z]]f YllY[c]\ gf egjYd Yf\ j]da_agmk_jgmf\k( Yf\ ]n]f gf ][gfgea[ _jgmf\k oal`gml em[` ]^^][l* D^ alak lY[cd]\ Yk Y hmZda[ `]Ydl` hjgZd]e Yf\ ]n]jq hYafl]\ klj]]l)[gjf]jo]f[` ak j][g_fak]\ Yk Y [Yjja]j g^ \ak]Yk] jYl`]j l`Yf Yk Yfmf^gjlmfYl] na[lae g^ kg[a]lq( l`]f l`] jY[c]l [Yf Z] Zjgc]f*1-

Df `ak na]o( hgda[] Yml`gjala]k( [dafa[ kg[aYd ogjc]jk Yf\ hjakgfe]\a[Yd g^^a[]jk k`gmd\ daYak] af gj\]j lg ]fkmj] l`] \]l]flagf Yf\afl]fkan] lj]Yle]fl g^ hjgklalml]k*

Df ^Y[l( al oYk Ydj]Y\q [geegf hjY[la[] af N[gldYf\ ^gj `YZalmYdhjgklalml]k Yhh]Yjaf_ Z]^gj] l`] [gmjlk lg Z] j]eYf\]\ af [mklg\q^gj e]\a[Yd ]pYeafYlagf mf\]j N][lagf .2 g^ l`] -504 >jaeafYd Emkla[]<[l* <dl`gm_` N[gllak` GYo J^^a[]jk kmZk]im]fldq jmd]\ l`Yl km[`hgo]jk `Y\ Z]]f afl]f\]\ Yk Yf Ya\ lg k]fl]f[af_ Yf\ fgl af^][lagmk\ak]Yk] hj]n]flagf Yf\ [gmd\ fgl Z] mk]\ hmj]dq Yk Y hmZda[ `]Ydl`e]Ykmj]( af kge] N[gllak` [ala]k Ydd oge]f [gfna[l]\ g^ hjgklalmlagf[gflafm]\ lg Z] j]^]jj]\ lg l`] Q? [dafa[k( ajj]kh][lan] g^ o`]l`]jl`]q `Y\ Yfq kqehlgek*1. Cgo]n]j( Yk l`] ^g[mk g^ ]ha\]eagdg_a[Yd\]ZYl] kmjjgmf\af_ Q?+NO?k k`a^l]\ af l`] -52,k Yf\ -53,k ^jgehjgklalmlagf lg l`] ]^^][lk g^ _j]Yl]j k]pmYd h]jeakkan]f]kk oal`af kg)[a]lq( [Yddk ^gj l`] [dgk]j j]_mdYlagf g^ hjgklalmlagf gf hmZda[ `]Ydl`_jgmf\k Z][Ye] d]kk klja\]fl*

H]Yfo`ad]( l`] j]_mdYlagf g^ l`] k]pmYd Z]`Ynagmj g^ hjgZd]e_ajdk l`Yl `Y\ kg ]p]j[ak]\ `]Ydl` g^^a[aYdk Yf\ [dafa[aYfk af afl]j)oYjN[gldYf\ j]eYaf]\ Yf afl]_jYd hYjl g^ Q?+NO? Y\eafakljYlagf Y^l]jl`] N][gf\ Rgjd\ RYj* Kjagj lg l`] -53,k( _ajdk [geeall]\ lg j]eYf\`ge]k Yf\ Yhhjgn]\ k[`ggdk mf\]j l`] >`ad\j]f Yf\ Tgmf_ K]jkgfk$N[gldYf\% <[l g^ -5/3 o]j] jgmlaf]dq ]pYeaf]\ ^gj Q?+NO?k gf l`]aj

) /3 )

^ajkl Y\eakkagf Yf\ gf Yfq j]Y\eakkagf Y^l]j YZk[gf\af_ gj Y^l]jj]lmjfaf_ ^jge Y `gda\Yq gj `ge] nakal*1/R`]j]Yk qgmf_ h]jkgfk g^]al`]j k]p ea_`l Z] Zjgm_`l lg l`] bmn]fad] [gmjlk ^gj kmkh][l]\hjgeak[malq( af hjY[la[] al oYk _ajdk \]]e]\ lg Z] hjgeak[mgmk gj ^Yddaf_ aflg ZY\ Ykkg[aYlagfk gj ]phgk]\ lg egjYd \Yf_]j o`g o]j]lYj_]l]\ Yf\ j]^]jj]\ lg l`] [dafa[k*10 Df l`] dYl] -52,k( kge] 12 h]j[]fl g^ ^]eYd] hYla]flk mf\]j ]a_`l]]f q]Yjk g^ Y_] Yll]f\af_ l`] @\af)Zmj_` [dafa[ o]j] j]^]jj]\ Zq Yhhjgn]\ k[`ggdk Yf\ j]eYf\ `ge]k(Yf\ YZgml 5 h]j []fl g^ l`] ogjc g^ l`] [dafa[ oYk \]ngl]\ lg ]fkmjaf_ l`Yl Y\gd]k[]fl _ajdk [geeall]\ lg [mklg\aYd afklalmlagfk Vo]j]W ^j]]^jge k]pmYddq ljYfkeall]\ af^][lagfk Yf\ lg ]fkmjaf_ [gflafm]\e]\a[Yd [Yj] af hjgeak[mgmk _ajdk *11 @na\]f[] ogmd\ km__]kl l`Yl(o`ad] h`qka[Yd [gehmdkagf oYk f]n]j [gfl]ehdYl]\( ^gjeYd h]jeak)kagf oYk jYj]dq kgm_`l ^jge l`] _ajdk ^gj nY_afYd ]pYeafYlagfk Yk l`]qo]j] h]j[]an]\ Yk j]Z]ddagmk Yf\ mf[g)gh]jYlan] Yf\ aeh]jnagmklg Yj_me]fl Yk lg l`] e]\a[Yd jakck g^ l`]aj k]pmYd Z]`Ynagmj*12

Cgo]n]j( Zq l`] dYl] -52,k( l`]j] oYk _jgoaf_ mf]Yk] Yegf_klN[gllak` n]f]j]gdg_aklk7 ^ajkldq( l`Yl al oYk hgkkaZd] ^gj Y _jgmh g^_ajdk lg Z] [gflafmgmkdq k]_j]_Yl]\ Z][Ymk] g^ k]pmYd Z]`Ynagmj o`a[`VoYkW fgl af alk]d^ hmfak`YZd] af gl`]j h]jkgfk ( Yf\ k][gf\dq( l`Yll`] e]\a[Yd ]ph]jlak] g^ n]f]j]gdg_aklk oYk Z]af_ \]hdgq]\ Yk hYjl g^[g]j[an] hjg[]\mj]k g^ kg[aYd ogjc \]hYjle]flk \]ka_f]\ lg [gfljgdbmn]fad] hjgeak[malq*13O`] j][gee]f\Ylagf g^ l`] GYl]q >geeall]]gf l`] <_] g^ HYbgjalq l`Yl l`] Y_] g^ [gfk]fl ^gj e]\a[Yd lj]Yle]flk`gmd\ Z] dgo]j]\ lg -2( [gmhd]\ oal` l`] afljg\m[lagf g^ [`ad\j]f#khYf]dk mf\]j l`] Ng[aYd Rgjc $N[gldYf\% <[l( $-524% Ydl]j]\ l`] kalmY)lagf* Bajdk ea_`l kladd Z] kmZb][l lg kmh]jnakagf gj\]jk Yf\ j]ka\]flaYd[Yj] ^gj egjYd g^^]f[]k Yf\ k]pmYd hjgeak[malq Zml l`] Q? k]jna[]ko]j] fg dgf_]j Yf afl]_jYd hYjl g^ km[` hjg[]\mj]k*

H]Yfo`ad]( l`] j]hj]k]flYlagf g^ l`] ]ha\]eagdg_q Yf\ kg[aYdj]h]j[mkkagfk g^ n]f]j]Yd af^][lagf af N[gllak` `]Ydl` ]\m[YlagfeYl]jaYdk Ydkg j]eYaf]\ kljgf_dq _]f\]j]\* O`] hj]nYadaf_ Ykkmehlagfl`Yl Q? oYk Y \ak]Yk] l`Yl \]n]dghk af oge]f Yf\ ak l`]f hYkk]\gflg e]f oYk ]phda[aldq YllY[c]\ af kge] g^ l`] dal]jYlmj]* Igf])l`]d]kk( ^]eYd] k]pmYdalq j]eYaf]\ Yl l`] [gj] g^ l`] \]egfgdg_q l`Ylkmjjgmf\]\ Q?( Yf\ l`] \ak[gmjk] g^ Q? Yf\ NO? hjghY_Yf\Y kladdj]hj]k]fl]\ qgmf_ oge]f Yk l`] hjaeYjq hjgl][lgjk+\]kljgq]jk g^l`] egjYd `]Ydl` Yf\ ]^^a[a]f[q g^ l`] fYlagf* O`mk( []fljYd lg l`] hdglg^ IZW EWab^W Sf Ca& )1$ o`a[` oYk ^j]im]fldq k[j]]f]\ af N[gldYf\ afl`] dYl] -50,k( oYk l`] af^a\]dalq g^ l`] qgmf_ oa^] \mjaf_ l`] oYjd]Y\af_ lg kqh`adala[ af^][lagf* Oqha[Yddq( l`] gn]jja\af_ [gf[]jf oYk

) /4 )

d]kk ^gj `]j `]Ydl` bWd eW Yf\ egj] ^gj l`] `]Ydl` g^ l`] mfZgjf [`ad\Yf\ l`] h]Y[] g^ e af\ g^ `]j `mkZYf\* @n]f l`] fYlmjYd k]pmYdYlljY[lagf g^ Y [`Ykl] _ajd `Y\ l`] hgo]j lg hgddml] ^gj( Y[[gj\af_ lgl`] N[gllak` >gmf[ad ^gj C]Ydl` @\m[Ylagf k hYeh`d]l( La_W` [` LSdS`V EWSUW6 N`] k`gmd\ j]e]eZ]j l`Yl Y eYf o`gk] \]kaj]k `Yn] Z]]f]p[al]\ oal`gml Z]af_ kYlak^a]\ eYq Z] \jan]f lg l`Yl lqh] g^ ogeYfo`g e]j]dq _jYla^a]k l`] e Yf #k h`qka[Yd k]p `mf_]j o`a[` `Yk Z]]fkg mf^Yajdq Yjgmk]\ Yf\ o`g lgg g^l]f _an] `ae n]f]j]Yd \ak]Yk] *14NaeadYjdq( Y_Yaf ][`gaf_ afl]joYj j]hj]k]flYlagfk( o`ad] eYd] Q? oYk\]ha[l]\ Yk Y k`Y\go gf `]Ydl` ( ^]eYd] Q? oYk Y k`Y\go gf`Yhhaf]kk ( Y dYklaf_ \]_jY\Ylagf g^ kg[aYd j]hmlYlagf Yf\ \ge]kla[^md^ade]fl oal` oa\])jYf_af_ egjYd gn]jlgf]k*15

R`]f( af j]khgfk] lg l`] jakaf_ af[a\]f[] g^ _gfgjj`g]Y( l`]N[gllak` >gmf[ad ^gj C]Ydl` @\m[Ylagf mh_jY\]\ alk eYl]jaYdk gf Q?Yf\ k]pmYd j]dYlagfk`ahk af l`] ]Yjdq -52,k( l`]aj lgf] oYk d]kk[]fkgjagmk Yf\ aflae a\Ylaf_ l`Yf l`Yl g^ ]Yjda]j Q? hjghY_Yf\Y*Cgo]n]j( l`]q [gflafm]\ lg aehdq Y eg\]d g^ af^][lagf l`Yl dg[Yl]\ZdYe] oal`af l`] ^]eYd] Zg\q* O`mk( Y d]Y^d]l akkm]\ af -52. oYjf]\l`Yl l`] k]pmYd Y\n]flmj]j oYk6

kggf]j gj dYl]j *** Zgmf\ lg [ge] aflg [gflY[l oal` l`] af^][lagmk(Yf\ kg jmfk Y [gflafmaf_ jakc* HYfq Y eYf `Yk kYa\ 6 =ml k`] oYkY [d]Yf _ajd * Nm[` Y Z]da]^ ak ogjl`d]kk( kaf[] Y _ajd eYq Z] h]j^][ldq[d]Yf af l`] gj\afYjq k]fk] g^ l`] ogj\ Yf\ q]l `Yn] af `]j Zg\qeaddagfk g^ l`] afnakaZd] _]jek g^ _gfgjj`g]Y gj kqh`adak( gj h]j`YhkZgl`*2,

Df l`] dYl] -52,k( af[j]Ykaf_ hmZda[ [gf[]jf oal` k]pmYd hjgeak[malqYf\ oal` l`] \jYeYla[ af[j]Yk] af Y f]o _]f]jYlagf g^ NO?k d]\l`] f]odq ]klYZdak`]\ N[gllak` C]Ydl` @\m[Ylagf Pfal lg akkm] Y f]ok]l g^ hgkl]jk Yf\ af^gjeYlagf eYl]jaYdk ^g[mkkaf_ gf l`] \Yf_]jk g^[YkmYd k]p Yf\ \aj][l]\ Yl l`] n]fm]k g^ qgml` [mdlmj]*2- O`] eYafhgkl]j( mk]\ l`jgm_`gml l`] -53,k( \]ha[l]\ qgmf_kl]jk af Y \Yf[])`Ydd k]llaf_ oal` l`] ogj\af_ Dl#k l`] ^ajkl lae] l`]q#n] e]l( Zml Yfq[YkmYd k]p ]f[gmfl]j ak Y jakc *2. Dl j]^d][l]\ l`] k`a^l af ]ha\]eagdg_q^jge Y hj])g[[mhYlagf oal` Y ^]o [jala[Yd n][lgj _jgmhk( km[` Yk hjgkl)alml]k( jY\aYlaf_ \ak]Yk]( lg l`] ]f\d]kk [`Yaf g^ af^][lagf [j]Yl]\ Zql`] [YkmYd k]p g^ Y hjgeak[mgmk _]f]jYlagf* O`] []fljYd e]kkY_] g^l`] f]o eYl]jaYdk oYk l`Yl h]ghd] o`g Vo]j]W lgg ]Ykq Vo]j]W lgg\Yf_]jgmk Z][Ymk] g^ l`]aj hj]nagmk k]pmYd [gflY[lk* O`]j] oYk egj]

) /5 )

_]f\]j kqee]ljq af l`] ogj\af_( Zml l`] hgkl]jk kladd \]ha[l]\ l`]^]eYd] [gflY[l af j]\ É l`] ljY\alagfYd [gdgmj [g\af_ ^gj hgddmlagfYf\ egjYd \Yf_]j( ]ehdgq]\ af Q? hjghY_Yf\Y kaf[] l`] -5.,k*

Hgj]gn]j( l`] `a\\]f l`j]Yl g^ nY_afYd af^][lagf oYk kladd \]hdgq]\af gj\]j lg hYl`gdg_ar] ^]eYd] k]pmYdalq* O`mk( log hgkl]jk \]ka_f]\^gj dYnYlgja]k af hmZda[ `gmk]k j]Y\ j]kh][lan]dq6

N]p)Yf\ `]j* Dk k`] ]Ykq; ÉO`]f k`]#k \Yf_]jgmk* Rge]f g^l]f\gf#l cfgo o`]f l`]q `Yn] Q? ÉZml l`]q [Yf _an] al lg qgm \mjaf_aflaeY[q* Tgm \gf#l cfgo o`g k`] oYk oal` dYkl *

N]p)Yf\ `ae* ?g]k `] oYfl al ja_`l YoYq; É Cak kgjl [Yf _an]qgm Q? ÉYf\ qgm ogmd\f#l cfgo qgm#n] _gl al É l`] _]jek ogjcafka\]* Tgm \gf#l cfgo o`g `] oYk oal` dYkl* 2/Dl ak fgl]ogjl`q l`Ylkge] g^ l`] aeY_]jq kmZk]im]fldq ]ehdgq]\ af `]Ydl` ]\m[Ylagf hgkl)]jk ^gj CDQ Yf\ <D?N `Yk [gflafm]\ lg ]phdgal l`]k] ljY\alagfYd ^]Yjkg^ l`] k]pmYddq Y[lan] ogeYf Yk Y `a\\]f j]k]jngaj g^ [gflYeafYlagfYf\ \ak]Yk]*20

>gf[dmkagfO`] kg[aYd `aklgjq g^ Q? af lo]fla]l` []flmjq N[gldYf\ ak Yk em[` Yklgjq g^ egjYd j]_mdYlagf Yk al ak g^ hmZda[ `]Ydl`* O`ak klm\q [d]Yjdqj]n]Ydk `go l`] e]\a[Yd Yf\ d]_Yd \ak[gmjk]k kmjjgmf\ af_ Q?[gflafm]\ lg Z] k`Yh]\ Zq egj] _]f]jYd [geemfalq [gf[]jfk lg j])_mdYl] k]pmYd Z]`Ynagmj Yf\ hmZda[ egjYdalq* HgjYd hYfa[ ]f_]f\]j]\Zq l`] Ca\]gmk N[gmj_] hjgna\]\ Y [gfn]fa]fl h]_ mhgf o`a[`l`] dg[Yd NlYl] [gmd\ `Yf_ Zq]dYok Yf\ hjg[]\mj]k [gfkljYafaf_hYll]jfk g^ kg[aYd afl]j[gmjk]* >gfn]jk]dq( l`] \]kaj] g^ N[gllak` dg[YdYml`gjala]k lg eYaflYaf [ana[ gj\]j Yf\ hjgZalq kmklYaf]\ Yf Yml`gja)lYjaYf ljY\alagf g^ hmZda[ `]Ydl` Y\eafakljYlagf af l`] `Yf\daf_ g^ af^][)lagmk \ak]Yk]k( af[dm\af_ l`gk] l`Yl o]j] k]pmYddq ljYfkeakkaZd]* Df l`]N[gllak` [ala]k( hmZda[ gj\]j( hmZda[ egjYdalq Yf\ hmZda[ `]Ydl` j]eYa)f]\ af]plja[YZdq dafc]\ Zgl` Y\eafakljYlan]dq Yf\ a\]gdg_a[Yddq( Yf\l`ak oYk \mdq j]^d][l]\ oal`af l`] gh]jYlagfYd h`adgkgh`q g^ l`] Q?k]jna[]k Yf\ l`] Gg[Yd C]Ydl` <ml`gjala]k l`Yl Y\eafakl]j]\ l`]e*@n]f af hgkl)oYj N[gldYf\( oal` l`] aehY[l g^ f]o [`]egl`]jYha]k(hmZda[ \]ZYl] gn]j Q? `Yk [gflafm]\ lg Z] k`Yh]\( Yf\ af\]]\lja__]j]\( Yk em[` Zq egjYd Yfpa]la]k gn]j l`] ]jgkagf g^ [geemfalqYf\ ^Yeadq nYdm]k( Yk Zq l`] e]\a[Yd \ae]fkagfk g^ l`] hjgZd]e( Yf\lYpgfge a]k g^ _m adl Yf\ egjYd [m dhYZ adalq `Yn] [gf lafm]\ lg[aj[mek[jaZ] l`] kg[aYd j]khgfk] lg k]pmYddq ljYfkeakkaZd] \ak]Yk]k*

O`ak klm\q ogmd\ km__]kl l`Yl( af N[gldYf\( Yk af eYfq gl`]j [gmfl)ja]k( l`ak hjg[]kk g^ egjYd j]_mdYlagf af o`a[` Q? hdYq]\ km[` Y []f)ljYd jgd]( oYk `]Ynadq _]f\]j]\* R`ad] l`]j] o]j] d]_alaeYl] e]\a[YdYj_me]flk ^gj na]oaf_ []jlYaf oge]f Yk j]k]jngajk g^ af^][lagf ( aloYk Ydkg n]jq em[` Y kg[aYd [gfkljm[lagf Zmadl mhgf dgf_)klYf\af_[mdlmjYd Z]da]^k g^ ogeYf Yk hgddml]j * <dl`gm_` l`] kg[aYd ]ha\]eag)dg_q g^ Q? k`a^l]\ ^jge l`] j`]lgja[ g^ hjgklalmlagf lg hjgeak[malq Yf\ `a_`)jakc Z]`Ynagmj Yf\ l`] [gf[]hl g^ Y ^]o [gj] n][lgjk oYkkm[[]]\]\ Zq l`Yl g^ Y [`Yaf gj f]logjc g^ af^][lagf( ^]eYd] k]pmYdalqYf\ k]pmYd Z]`Ynagmj dgf_ j]eYaf]\ l`] ^g[mk g^ hmZda[ [gf[]jf kmj)jgmf\af_ l`] af[a\]f[] g^ Q? Yf\ NO?k Yf\ alk aehda[Ylagfk ^gj hmZ)da[ `]Ydl`( ]kh][aYddq af oYjlae]*

B]f\]j \ak[jaeafYlagf Ydkg [d]Yjdq [`YjY[l]jak]\ l`] ^gjeYd Yf\af^gjeYd [gfljgdk gh]jYlaf_ oal`af N[gllak` kg[aYd `q_a]f] Yf\ hmZda[egjYdalq hgda[q lg j]_mdYl] l`] k]pmYd mj_]k g^ l`] qgmf_* N`a^lk af l`]da^]klqd] g^ ^]eYd] Y\gd]k[]flk( g[[Ykagf]\ Zq [`Yf_]k af l`] dYZgmjeYjc]l Yf\ ^Yeadq da^]( Yf\ Zq l`] gfk]l g^ f]o ^gjek g^ d]akmj] Yf\]fl]jlYafe]fl km[` Yk a[])[j]Ye hYjdgmjk( \Yf[])`Yddk( Yf\ [af]eYk(oal` l`]aj Yhh]Yd lg adda[al \]kaj]k( o]j] na]o]\ Yk []fljYd lg l`] khj]Y\g^ af^][lagf Yf\ l`] ]jgkagf g^ l`] k]pmYd [gfljgd kg nalYd ^gj kg[aYdklYZadalq Yf\ jY[aYd `]Ydl`* I]o l`]gja]k g^ k]pmYd \]dafim]f[q e]j]dqY\\]\ Y hYlafY g^ k[a]fla^a[ j]kh][lYZadalq lg ljY\alagfYd ^]Yjk a\]fla^qaf_^]eYd] k]pmYd hj][g[alq oal` hgddmlagf( Yf\ ^Yj aflg l`] k][gf\ `Yd^g^ l`] lo]fla]l` []flmjq( e]\a[Yd Yf\ hgda[] Yml`gjala]k af N[gldYf\[gflafm]\ lg gh]jYl] hjg[]\mj]k l`Yl a\]fla^a]\ ^]eYd] bmn]fad] g^^]f)[]k oal` k]pmYddq ljYfkeall]\ \ak]Yk]* O`ak klm\q l`]j]^gj] addmeafYl]kl`] oYq af o`a[` l`] hjg[]kk g^ ^]eafaraf_ n]f]j]Yd \ak]Yk] `Ykj]eYaf]\ aeZ]\\]\ af lo]fla]l`)[]flmjq N[gllak` kg[a]lq( Yf\ e]\a[g)egjYd \ak[gmjk]k kmjjgmf\af_ Q? `Yn] [gflafm]\ lg [jaeafYdak] Yf\hYl`gdg_ar] l`] k]pmYddq Y[lan] kaf_d] ogeYf af l`] fYe] g^ l`] ^YeadqYf\ l`] jY[]*

) 0- )

Igl]k-* D Ye af\]Zl]\ lg l`] R]dd[ge] Ojmkl( o`gk] ^afYf[aYd YkkaklYf[] eY\] hgkkaZd]

em[` g^ l`] j]k]Yj[` mhgf o`a[` l`ak Yjla[d] ak ZYk]\*.* E* T* Naehkgf( Igla[]k g^ l`] <hh]YjYf[] g^ Nqh`adak af N[gldYf\ af l`] dYkl q]Yjk

g^ l`] Aa^l]]fl` >]flmjq ( :V[`TgdYZ BWV[US^ ?agd`S^$ 2 $-42-%( h* 24/*/* F* H* =gq\( HUaff[eZ 8ZgdUZ 6ff[fgVWe fa HWj$ BSdd[SYW S`V fZW ;S_[^k )0-(%)1),

$@\afZmj_`( Eg`f ?gfYd\( -54,%( h* -32*0* E* T* Naehkgf( 6`f[cgSd[S` Caf[UWe aX HkbZ[^[e [` HUaf^S`V [` fZW )-fZ S`V ).fZ 8W`fgd[We

$@\afZmj_`( @\egfklgf Yf\ ?gm_dYk( -42.%( hh* -,)--*1* G* HY`gg\( IZWBSYVS^W`We2 Edaef[fgf[a` [` fZW C[`WfWW`fZ 8W`fgdk $Ggf\gf( Mgmld]\_](

-55,%( h* -3*2* >T[V&$ hYkkae*3* N]]( ^gj ]pYehd]( R* OYal( BSYVS^W`[e_2 6` >`cg[dk [`fa fZW :jfW`f$ 8SgeWe$ S`V

8a`eWcgW`UWe aX Edaef[fgf[a` [` :V[`TgdYZ $@\afZmj_`( K* Ma[`Yj\( -40,%* Agj Y _]f])jYd \ak[mkkagf g^ l`ak hjg[]kk( k]] H* Nhgf_Z]j_( ;W_[`[l[`Y KW`WdWS^ 9[eWSeW2 IZW7aVk aX fZW Edaef[fgfW [` C[`WfWW`fZ%8W`fgdk BWV[US^ 9[eUagdeW $=Ykaf_klgc]( HY[ead)dYf Kj]kk( -553%*

4* HY`gg\ $-55,%( hYjl /*5* BdYk_go >alq <j[`an]k( > d+/ +// ( HY_akljYl]k >geeall]] Hafml]k( /, N]hl*-5,0(

0* N]hl*-5,17 ?mf\]] >alq <j[`an]k( Ogof >gmf[ad Hafml]k( .. A]Z*-5,1*-,* <^SeYai AaU] =aeb[fS^ 6``gS^ GWbadf ")1(.#$ h* 0*--* GakS^ 8a__[ee[a` a` fZW Eaad ASie S`V GW^[WXaX9[efdWee$ B[`gfWe aX :h[VW`UW$ E&E&)1)(

$>\* 0534%( MA K>$ ii* 13,/4(14.20)1(2-,037 ;[`S^ GWbadf$ E&E& )1(1 $>\*0055% MMMK>>$h* .32*

-.* 6``gS^ GWbadfe aX fZW GakS^ :V[`TgdYZ 6ek^g_ ")1))#$ h* -07 ")1)*#$ h* -0*-/* >T[V&$ ")1(/#$ hh* -2)-37 ")1))#$ hh*-0)-17 ,0fZ GWbadf aXfZW <W`WdS^ 7aSdV aX8a__[ee[a`Wde

[` Ag`SUk Xad HUaf^S`V$ E&E& )1(. $>\*/,.-% MMM>M$ h*dap*-0* Agj Y \]lYad]\ \ak[mkkagf g^ l`ak a\]fla^a[Ylagf g^ hjgklalmlagf oal` egjYd \])

_]f]jY[q( k]] Nhgf_Z]j_ $-553%( [`* 5*-1* / S`V , <Wa&-$ BW`fS^ 9WX[U[W`Uk S`V Ag`SUk "HUaf^S`V# 6Uf$ )1)+&-2* N[gllak` M][gj\ J^^a[]( CC /-+-2( >gjj]khgf\]f[] Z]lo]]f N[gllak` J^^a[] Yf\

Cge] J^^a[]( J[l* -5-0*-3* Agj l`] ZjgY\]j P*F* [gfl]pl g^ l`]k] afalaYlan]k( k]] G* =dYf\( Df l`] fYe] g^

hjgl][lagf6 l`] hgda[af_ g^ oge]f af l`] Aajkl Rgjd\ RYj ( af E* =jgh`q Yf\ >*NeYjl $]\k%( La_W`%>`%ASi2 :jb^adSf[a`e [` ASi$ ;S_[^k S`V HWjgS^[fk $Ggf\gf(Mgmld]\_] Yf\ F]_Yf KYmd( -541%( hh* ./)057 G* =dYf\* >d]Yfkaf_ l`] KgjlYdk g^Ga^] 6 O`] Q]f]j]Yd ?ak]Yk] >YehYa_f af l`] @Yjdq Oo]fla]l` >]flmjq ( af H*GYf_Yf Yf\ =* N[`oYjr $]\k*%( 8d[eWe [` fZW 7d[f[eZ HfSfW )00(%)1+( $Ggf\gf( Cml)[`afkgf( -541%( [`* 5*

-4* N*M*J*( CC 21+---)-.( H]egjYf\me gf >jaeafYd GYo <e]f\e]fl =addk* O`]=addk eY\] al Y [jaeafYd g^^]f[] ^gj Y h]jkgf km^^]jaf_ ^jge Q? af Y [geemfa[YZd]^gje lg $Y% `Yn] k]pmYd afl]j[gmjk] oal` Yfq gl`]j h]jkgf $Z% kgda[al gj afnal] Yfqgl`]j h]jkgf lg `Yn] k]pmYd afl]j[gmjk] oal` `ae gj `]j $[% oad^mddq [geemfa[Yl]km[` \ak]Yk] af Yfq eYff]j lg Yfq gl`]j h]jkgf* >gfna[lagf gf af\a[le]fl af[mjj]\h]fYdla]k g^ mh lg log q]Yjk aehjakgfe]fl( oal` gj oal`gml `Yj\ dYZgmj*

) 0. )

-5* N]]( ^gj ]pYehd]( IYlagfYd GaZjYjq g^ N[gldYf\( IYlagfYd Qa_adYf[] <kkg[aYlagf ^gjN[gldYf\( @Ykl]jf ?anakagf @p][mlan] >geeall]] Hafml]k( <hjad -5-3( 3 Ign* -5-4*

.,* Agj Y \]lYad]\ kmjn]q g^ l`ak egjYd hgda[af_ af oYjlae]( k]] >* CYkl]( Gg^We aX9We[dW2 HWj [` 7d[fS[`2 Lad^V LSd > fa fZW EdWeW`f $Ggf\gf( >`Yllg Yf\ Raf\mk( -55.%([`* /*

.-* =dYf\ >d]Yfkaf_ l`] KgjlYdk ( h* .,07 AYo[]ll GaZjYjq( <HN+/--( Aad] .( dakl g^[Yk]k lja]\ mf\]j ?*J*M*<* 0,?*7 N*M*J*( CC 13+122( Cge] J^^a[] >aj[mdYj lg >`a]^>gfklYZd]k gf ?*J*M*<* 0,?( 0 <hjad -5-47 ?a[`f HW^WUf 8a__[ffWW a` fZW 8d[_[`S^ ASi6_W`V_W`f 7[^^ S`V HWjgS^ DXXW`UWe 7[^^$ E&E&)1)0 "),*# >>>( ii* .34/)0*

..* N*M*J*( CC/-+-2( KYh]jk j]dYlaf_ lg Rge]f KYljgdk >geeall]] ^gj N[gldYf\ -5-1)-3* Agj kaeadYj hYll]jfk g^ kmjn]addYf[] af @f_dYf\( k]] =dYf\( Df l`] fYe] g^hjgl][lagf ( hh* //)5*

./* Pfd]kk gl`]joak] klYl]\( l`] \ak[mkkagf g^ afl]joYj N[gllak` hmZda[ `]Ydl` a\]gdg_qYf\ hgda[q af l`ak hYh]j ak ZYk]\ gf kgmj[]k [al]\ af M* ?Yna\kgf( < N[gmj_] lg Z]Aajedq Bjahh]\ 6 O`] >YehYa_f ^gj Q? >gfljgdk af Dfl]joYj N[gldYf\ ( HaU[S^=[efadk aX BWV[U[`W$ . $-55/%( hh* .-/)/17 Q]f]j]Yd ?ak]Yk]( N]pmYd HgjYdalq Yf\KmZda[ C]Ydl` af Dfl]joYj N[gldYf\ ( ?agd`S^ aX fZW =[efadk aX HWjgS^[fk$ 1 $-550%(hh* .23)5/*

.0* Agj l`] gja_afk Yf\ ZjgY\]j aehda[Ylagfk g^ l`ak YlYnakla[ na]o g^ ^]eYd] k]pmYdalq(k]] ]kh][aYddq( >* @* Mmkk]ll( IZW K[Ufad[S` 8a`efdgUf[a` aX La_S`ZaaV $>YeZja\_](HYkk*( CYjnYj\ P*K*( -545%( hh* 2/)327 N* G* BadeYf( 9[XXWdW`UW S`V ESfZa^aYk2 HfWdWafkbWeaX HWjgS^[fk$ GSUW S`V BSV`Wee $Dl`Y[Y Yf\ Ggf\gf( M]Yclagf =ggck( -541%*

.1* Nm[` h]j[]hlagfk o]j] Ykkg[aYl]\ oal` oa\]j [gf[]jfk gn]j l`] aehY[l g^ l`] AajklRgjd\ RYj Yf\ g^ k`a^lk af hYll]jfk g^ af[ge]( ]ehdgqe]fl Yf\ d]akmj] mhgf l`]jgd] Yf\ Z]`Ynagmj g^ oge]f af kg[a]lq*

.2* Agj [gehYjYZd] ]pYehd]k gn]jk]Yk( k]] >* NljYf_]( Iada`fa e <[d^ EdaT^W_2 IZWEWd[^e S`V E^WSegdWe aX fZW 8[fk2 )00(%)1+( $Ogjgflg( Pfan]jkalq g^ Ogjgflg Kj]kk(-551%7M* H* <d]pYf\]j( IZW <[d^ EdaT^W_ 2 EW_S^W HWjgS^ 9W^[`cgW`Uk [` CWi Nad]$ )1((%+($Dl`Y[Y Yf\ Ggf\gf( >gjf]dd Pfan]jkalq Kj]kk( -551%7 <* Hggab( Dgf aX DfZWd`Wee28ZSdSUfWde S`V CSddSfade [` fZW 9gfUZ KW`WdWS^ 9[eWSeW 9WTSfWe )0-(%)11( $<ekl]j)\Ye( Mg\gha Kj]kk( -554%( [`* /*

.3* G* HY`gg\( Ea^[U[`Y <W`VWd$ 8^See S`V ;S_[^k2 7d[fS[`$ )0-(%)1,( $Ggf\gf( P>GKj]kk(-551%( [`* 2*

.4* N]]( ]*_*( l`] jgd] g^ C]jeYfa af Id[S^ Xad BSdd[SYW Yf\ ?gjak( l`] =ja\]keYa\( af ?aZ`H_[fZ S`V Ha`&

.5* O`mk( af l`] ^ade 9S_SYWV <aaVe$ al ak l`] _ajd o`g `Yk j]kgjl]\ lg hjgklalmlagf o`gY[[gj\af_ lg l`] ?g[lgj kmek mh l`] o`gd] hjgZd]e g^ Q?( jYl`]j l`Yf l`]]ehdgq]j o`g `Yk k]pmYddq YkkYmdl]\ `]j( gj `]j eYd] [da]flk*

/,* H* N[Yjda]Z( Kmjalq Yf\ l`] IYlagf#k R]d^Yj]6 af ;SU[`Y fZW EdaT^W_2 6 8S^^ faLa_S`ZaaV$ $Ggf\gf( <ddaYf[] g^ Cgfgmj( -5.1%( h* 4*

/-* @\afZmj_` >alq <j[`an]( KmZda[ C]Ydl` ?]hYjle]fl -1+-( =gp /0( ?MO -0( O]pl ^gjNda\] N`go( Ggn])HYjjaY_])KYj]fl`gg\ *

/.* N]]( ]*_*( l`] hdglk g^ ?S_We H_[fZ S`V Ha` Yf\ 9WXWddWV ESk_W`f$ IYlagfYd Aade Yf\O]d]nakagf <j[`an]( k`gldaklk Yf\ na]oaf_ [gha]k*

//* Agj \]lYadk( k]] M* ?Yna\kgf( Aa_`laf_ O`] ?]Y\dq N[gmj_] 6 O`] DehY[l g^ Rgjd\RYj DD gf >anadaYf Q? Kgda[q af N[gldYf\ ( HUaff[eZ =[efad[US^ GWh[Wi$ /- $-552%(hh* 3.)53*

) 0/ )

/0* M* ?Yna\kgf( N]Yj[`af_ ^gj HYjq BdYk_go 6 >gflY[l OjY[af_ ^gj N]pmYddq OjYfk)eall]\ ?ak]Yk]k af Oo]fla]l` >]flmjq N[gldYf\ ( HaU[S^ =[efadk aXBWV[U[`W& 5 $-552%(hh* -54).,2*

/1* M* M* Ka]jkgf( O`] ?gmZd] =af\ g^ l`] ?gmZd] NlYf\Yj\6 Q? >gfljgd Yf\ l`]>R<> af Rgjd\ RYj DD ( 8S`SV[S` =[efad[US^ GWh[Wi( 2. $-54-%( h* 1,7 <* =jYf\l( CaBSY[U 7g^^Wf2 6 HaU[S^ =[efadk aX KW`WdWS^ 9[eWSeW [` fZW J`[fWV HfSfWe e[`UW )00( $Jp)^gj\( J*P*K*( -541%( addmkljYlagfk -0(-4).,*

/2* N]] ]kh][aYddq( C]ddg =gq^ja]f\ [geaf_ HT oYq; hgkl]j akkm]\ \mjaf_ -50/)00(Deh]jaYd RYj Hmk]me KNO+ ,4,,*

/3* N]]( ]*_*( :V[`TgdYZ =WS^fZ S`V HaU[S^ HWdh[UW 9WbSdf_W`f "ZWdW[`SXfWd :&=&H&H&9&#$ 6``gS^GWbadf ")1.1#$ h* 3-7 GWbadf aX ?a[`f HgT%8a__[ffWW a` HWjgS^^k IdS`e_[ffWV 9[eWSeWe$C*H*N*J*( -53/%( h* .*

/4* :V[`TgdYZ EgT^[U =WS^fZ 9WbSdf_W`f "ZWdW[`SXfWd :&E&=&9&#$ 6``gS^ GWbadf ")1-.#$h* -127 >* =* N N[`g^a]d\ af Hg`VSk B[ddad$ -1 Emf] -53,*

/5* N]] ]*_*( :&E&=&9&$ 6``gS^ GWbadf$ ")1--#$ h* -147 :&=&H&H&9&$ 6``gS^ GWbadfe ")1.0#$hh* 22)37 ")1.1#$ h* 3-*

0,* >* =* N* N[`g^a]d\( HWjgS^^k IdS`e_[ffWV 9[eWSeWe $.f\ @\alagf( @\afZmj_`( >`mj[`addGanaf_klgf]( -531%( hh* 0/)0*

0-* >T[V&$ hh* 00)2*0.* :&=&H&H&9&$ 6``gS^ GWbadf ")1.0#$ h* 25*0/* 9S[^k B[ddad$ -/ EYf*-53.* M* N* Hgjlgf( HWjgS^ ;dWWVa_ S`V KW`WdWS^ 9[eWSeW $Ggf\gf(

Jo]f( -53-%( hh* 5,)-*00* >al]\ af GWbadfe fa fZW <W`WdS^ 6eeW_T^k aX fZW ;dWW 8ZgdUZ aX HUaf^S`V ")1/,#$ h* -01*01* >T[V& ")1/,#$ h* -02*02* >T[V& ")1/-#$ h* -11*03* N]]( ]*_*( NWSd 7aa] aX fZW 8a`YdWYSf[a`S^ J`[a` aXHUaf^S`V ")1/(%)#$ hh* 41)27 GWbadfe fa

fZW <W`WdS^ 6eeW_T^k aX fZW 8ZgdUZ aX HUaf^S`V ")1.0#$ hh* 05-).7 ")1.1#$ hh* 1,/)47<^SeYai =WdS^V$ -0 <hjad " -/ HYq -53-*

04* <^SeYai =WdS^V$ / A]Z* -53-(-5 A]Z* -53-(-1 HYq -53-( .4 N]hl* -53-*05* M*>*G* =Yl[`]dgj KYh]jk( >`Yf_af_ >gf[]hlk Yf\ >`Yf_af_ KYll]jfk af

Q]f]j]gdg_q ( G][lmj] lg O]]k)Na\] ?anakagf g^ =*H*<*( .- J[l* -52/*1,* M*>*G* =Yl[`]dgj Yf\ H* Hmjj]dd( KW`WdWS^ 9[eWSeWe 9WeUd[TWV Xad CgdeWe $@\afZmj_`(

@* " N* Ganaf_klgf]( -51-%( hh* -52( .,.)/*1-* MgZ]jl G]]k( Q? ÉNge] M]^d][lagfk g^ Y Q]f]j]gdg_akl ( 7d[f[eZ ?agd`S^ aX KW`W%

dWS^ 9[eWSeWe "ZWdW[`SXfWd 7&?&K&9&#$ .2 $-51,%( h* -2,*1.* N*M*J*( CC 13+124( Oj]Yle]fl g^ Q]f]j]Yd ?ak]Yk]k af Kjakgf6 B]f]jYd Lm]klagfk*1/* ?*C*C* MgZ]jlkgf Yf\ B* B]gj_]( H]\a[Yd Yf\ G]_Yd KjgZd]ek af l`] Oj]Yle]fl

g^ ?]dafim]fl Bajdk af N[gldYf\6 DD* N]pmYddq OjYfkeall]\ ?ak]Yk] af Bajdk af>mklg\aYd Dfklalmlagfk ( 7&?&K&9&$ 02 $-53,%( hh* 02)1-*

10* ?*C*C* MgZ]jlkgf( H]\a[Yd Yf\ G]_Yd KjgZd]ek af l`] Oj]Yle]fl g^ ?]dafim]flBajdk af N[gldYf\6 -* Bajdk af >mklg\aYd Dfklalmlagfk ( 7&?&K&9&$ 01 $-525%( h* -/1*

11* E* H* Cmfl]j Yf\ H* I]adkgf( N]pmYddq OjYfkeall]\ ?ak]Yk]k af @\afZmj_`6 KYla]flkmf\]j -4 q]Yjk g^ Y_] ( =WS^fZ 7g^^Wf[`$ /4 Ig*d $-54,%( h* .07 :&=&H&H&9&$ 6``gS^GWbadf ")1.0#$ h* 25 * Df [gfljYkl( fg bmn]fad] eYd] hYla]flk o]j] j]^]jj]\ lg l`] Q?[dafa[ ^jge [mklg\aYd afklalmlagfk*

) 00 )

12* H]\a[Yd Ng[a]lq ^gj l`] Nlm\q g^ Q]f]j]Yd ?ak]Yk]k( N[gllak` =jYf[`( >gjj]khgf\)]f[] Yf\ hYh]jk j]dYlaf_ lg l`] GYl]q >geeall]] gf l`] <_] g^ HYbgjalq*

13* MgZ]jlkgf $-525%( hh* -/1)2*14* N]] Ydkg( N*>*C*@*( IWSUZ[`Y =WS^fZ2 6 Lad][`Y <g[VW $-52-%( h* .1* *** _ajdk k`gmd\ fgl

Z]`Yn] af Yfq oYq o`a[` ea_`l [Ymk] Y fgjeYddq)hYkkagf]\ Zgq lg ^gj_]l `aek]d^ *15* N*M*J*( CC 04+21+2( ?*C*N* >aj[mdYj -3+-501*2,* N*M*J*( CC 14+--.+--( ?jY^l g^ d]Y^d]l6 < K]jkgfYd Rgj\ ( HYj[` -52.*2-* =WS^fZ 7g^^Wf[`( SSQDDD( Ig*d( $-53,%( h* 27 =* K* R* R]ddk Yf\ >*=*N* N[`g^a]d\( OYj)

_]l Nal]k ^gj <fla)Q? KjghY_Yf\Y ( =WS^fZ 7g^^Wf[`$ DZa\*( hh* 31)3*2.* C]Ydl` @\m[Ylagf =gYj\ ^gj N[gldYf\( N[gllak` C]Ydl` @\m[Ylagf Pfal Kgkl]j( -53,*

Na_fa^a[Yfldq( al oYk l`] ^ajkl lae] l`Yl l`] ogj\ k]p `Y\ Yhh]Yj]\ af Q? hgkl]jk*2/* =WS^fZ 7g^^Wf[`$ SSQDDD Ig*d $EYf* -53,%( h* 2* Df l`ak [gfl]pl( al ak ka_fa^a[Yfl l`Yl l`]

gfdq gl`]j _jgmh ]phda[aldq a\]fla^a]\ Zq hgda[q eYc]jk Yk j]k]jngajk g^ af^][lagf o]j] hYkkan] `gegk]pmYdk *

20* N]] ]kh][aYddq( M* H[BjYl`( C]Ydl`( @\m[Ylagf Yf\ <ml`gjalq6 ?a^^]j]f[] Yf\?]naYf[] ( af Q* CYjogg\( ?* Jko]dd( F* KYjcafkgf Yf\ <* RYj\( E^WSegdW Ed[`U[b%^We2 Ea^[f[Ue$ HWjgS^[fk S`V :fZ[Ue $Ggf\gf( GYmj]f[] Yf\ Rak`Yjl( -55/%( hh* -13)-4/7O* Radlgf( :`YW`VWd[`Y 6>9H2 9WUa`efdgUf[`Y HWj$ IWjf S`V :b[VW_[U $Ggf\gf( NY_]KmZda[Ylagfk( -553%*

) 01 )