Regulation and governance of the firm
Texte intégral
(2)
(3) !#" $ !%&')(*"+. ,.-#/1032)46587-94:&;<-'/60>=!?@2A/CBA-94DBE;F2HG GI:6=?J2/)K)LA4M 5*2)LA;4ONP:Q;<2ARE-TS. :OUVXW1WTY[Z\V^]_V`WaW9b ZcdfegUhZ)-Ti
(4) ejZkTi]legVmcnih]o_;FZqp[VZqrscnd2AYYt_uV^ZvE4\cnihcnw>V^\!W&xk'VuiyW&ejc!y[ZlegUhZqk*])i
(5) b wzx[Zqk cd{Y[]Y[ZqkJW)egUh]ler>Zqk#Z c!kTV|y[Vui[]__~}Yk'Z!W'ZiejZv8]le6egUhZ [r>c!kT WjUcY8cdCegUhZ46b[kjcY[Z]qiNPZle`r3c!kT 8ci egUZ{4C\cicw>V\W*ctdegUZ)GIV|k'wUZ_^v>]leegUZ);{4*7A4A=/ON3;M>k'Z
(6) W'Z]qk'\U>V~iWgeTVe`bejZ)cdfegUhZ{L>iV|p ZqkJW'Veg}Pctd N Vu\ZM[cYUV^] 2Ai
(7) ejV|Y[ct_uV`Wa*:6UZWgbtx@Z\lecdvZxn]lejZ]leegUV^Wzr>ckT WTUhcnY.Uh]vegUZW']wPZdgc[\lbWP]
(8) WAegUV9W WTY[Z\oV^]_V`WJW9bfZ!:&r3c [Zl}zegUhZw Z!WOr3Zqk'ZA]qYY[]qk'Zi
(9) eVui3rcnkT WjUcYv!VW#\lbIWJW'VuctifndgVuklWgej=td`k'cw]iPZw>YtV|k'V^\]
(10) _ Y[ZqkJWjY[Z\legV|p ZEy[c!p[Zqkji]i\Zz]qihv k'Zqy!b _^]leTVmcni]qYY[Z]qkJW*ejc3xnZz\ctwzY[_^Zq$]ivwEb _eTV dg]\ZlejZv=]qihvegU]leegUV`W \cwzY[_Zq[Veg}Zq[VXWge'WdgckWjc!b[ivk'Z]
(11) W#cni[WaA]ivsW#Z\ci[vn_|}h=z]i!}]i]_~} W'VXWctddgVuk'wy[c!p ZqkTih]oi[\Z]iv k'Zqy!b _u]lejVuciegU]aeWgb[yy[Z
(12) W9e'W]W'Vuiy[_Z=cY
(13) egVuwP]_W'Zlecd.W9egk9b \le`b[k#Z
(14) W]qihvYk#ct\Zv
(15) b[k'Z
(16) WV`WegUZqk#Zodgck'Z Vui[\ciW'VXWgejZqi
(17) e>r>VegUegUV`W$ZwY[Vuk'V\]o_c!xW@Zqk9pn]lejVucni ):OUV9W$Vui
(18) egk#ctv
(19) b \JegVucir>V_^_zvZqpnZo_mcnYegUZk#Z]!W'ciV~iy x[ZUVui[vegU[Z
(20) W#Ze`r3c.c!p[Zqk ]qk'\qUVui!y.egUZwPZ
(21) WP]ivV~iegU[Z$Yk'ct\Z
(22) WJW3ctd9dgZkx[]\q yk'c!b[ivejcegUZvZlej]V~_^Zv vVW@\lbWJW'VmctiW*V~i3Z]\U>cdfegUhZ)Y[]qY[ZqkJW ¡''" $ !%&#¢`^ ¡£ !%O' "~9¤¥ ¦ZqkTUh]qYWk']aegUZqkYk#ZvnV^\lej]ax[_~}§wzbf\U§vZqx[]lejZ¨cniegUZeXcnYVu\¨cnd$dTVuk'w©y[chp ZkTi]i[\ZªWgej]qk9e'W$rzVegUegUZ vcwVui[]i
(23) e1c!kOegk']v!VeTVuci]_IZ\cic[wV^\z]YYk'ct]\qUVuitdgckTwPZv x}$]qy[Zi\q}PegUZckT}«g?aZiW'Zi=£¬t®t ?aZitW#Z
(24) i ¯ ,Z\q [_Vuiy[=6¬°!±a
(25) ²³VegUVui3egUV`W1d`kJ]wPZlr3cnkj c!riZqkJW1]qk#ZFp[V^Zlr3Zv ]W6Yk'Vui[\V|Y ]o_`W1]iv w>]i[]qy[ZkJW1«T]
(26) W ]qy[Zqie'WT±>]k'Z]\\chb[iej]lx[_^ZejcegUhZ
(27) W'Z$Yk´Vui[\V|Y ]_XW*:µUhZW9ej]iv]qk'v.]YYk'ct]\qUWgb[yyZ
(28) Wge'WEegUh]leAYkTVui[\V|Y]_`W \citWgegk9b \eCcY
(29) egVuwP]o_*Vui[\Zi
(30) ejV|p[Z
(31) WegU]le{\cniegkTc_O]y[Zoie£x[ZUh]p[Vmchb[kVui_^V~i[Zzr>VejUc!riZqkFchx@Z\lejV|p[Z!Wa-`eV`W egUZi$]W'Uhcnk`e 9bw>Yd`k#ctw¶Y[cfWjVeTV|pnZ3Yk'Vui[\VuY[]o_ ]y[ZoieOegUZck9}Pegc]zic!kjw>]lejVmpnZ3p[V^ZlregUh]le1d9V|k'wWAW'Uc!b_uv wP]q[Vw V`W#Z³egUZªpn]_mb Z·ctdW'U[]qk#ZqUct_mvZqk.\]YtVej]_gz-Ti¶\cnih\qk'ZlejZejZqkTwPW.]qy[Zi[\q}¸egUZck9}¹W9b[yy[Z
(32) Wge'W.] y[c!p[ZqkTih]i\Z.Zw>YtUh]
(33) W'V`W$ci«qa±Za Z\lbejVmpnZk'Zwzb iZqk']qegVuci¨]oihv«9±egUhZW9egkgb \le`b[k'Z]iv\civ
(34) b \aePcnd \cwzY[]i!}xnct]k'vtWa:µU[ZdTV|kaW9e8dg]\lejcnk8Vui!p[c[_mpnZ
(35) WDk'Zw3b[ihZqk']lejVucisxn]!W'Zv¸cniºV~i[\ZoieTV|pnZ³k#Z
(36) ]_uVuytiwPZi
(37) e \ci
(38) egk']\e'W]JeegUhZUhZ]qk9e»cnd]qy[Zi\q}egUZck9}·]ihv³egUZW'Z\civ¼V`WegUZV~idgk']
(39) Wgegk9b \le`b[k'Z.c!k$w>Z]iWegc \citWgegk9b \egVui®yegUhZhW#ZVui[\Zi
(40) egV|p Zk'Z]_Vuy[iw Zie>\ci
(41) egk#]\ejWaO½{be3V~i]vvnVejVuctih=)]qYY[_uV^Z
(42) vvVXW#\lbIWJW'VuctiWPci .
(43) y[c!p[ZqkTih]i\Z§VuiWTY[V|k@Zvx}¶]qy[Zi[\q}¸egUZckT}¶W9b[yy[Z!W9eD]i¶ZwY[U]W'VXWcniº]i¶Zd9djZ\lejV|p[Z§w ]kT [Zle8dgck \ckTYc!k#]lejZ)\cniegkTc_[«X½FZ\U
(44) e ¯ ]_u=n[ ±egcEx!be^e`k'ZWJW&egUhZ
(45) W'ZVui
(46) ejZqkTih]_y[chp Zqkji]i[\ZEWT}WgejZw»W -Ti egUhZ3Yk#cnY[Zqk`e`}$k'V|y[U
(47) e'W<]qYYk'c[]\qU ejc$d9V|k'w¹y[chp Zqkji[]oih\Z«`0>]qkgeg={¬¬®]= xh±<]_uVui V`W\qk#Z]lejZv x Zle`r3ZZqi WTU[]k'ZqUc[_uvtZk\ci
(48) e kTc_]oihvªk'ZW'Vv
(49) b ]_Ak'V~y[U
(50) e'WV`Z!£egUZ.k9Vuy[U
(51) e>egc¼w>]ih]qy[Z]vlTbW9ejw>Zi
(52) e>eXcªb[idgcnk'ZW'ZZi \V|k'\lb wW9ej]qi[\Z
(53) Wa®:µUhZ!W'Z)k'Z
(54) W'V^v
(55) b ]_[k´Vuy[U
(56) e'W*]k'ZvnVudgdTZk'Zi
(57) eId9k#cnw¼egUhZ)k´V ytUe'W*]qivzk'Z!WjY[cni[W'Vmx V_^VejVZW£WTY Z\VudTV^Z
(58) v Zl ]i
(59) ejZ Vui$]i!}Q\cniegk']\Je@t-Ti egUV^WYk'cnY[ZkXe`}$k'V|y[U
(60) e'W£p[V^Zork'Z
(61) W'Vuv
(62) bf]_&k'V|y[U
(63) e'W<]qk'Z>]__mct\]aejZveXcw>VuitV^w V`W'Z \ci
(64) egkjcn_\cW9e'Wa-ji]vvVejVuctiWgb \Uk'V|ytUe'WvZdTVui[ZPchri[ZkJWTUVuY:6UhZy[c!p[Zqk'i]ih\
(65) Z V^w>Yt_^V\]leTVmcni[WAcnd£egUV`W p[V^Zlr¸]k'Z\_uZ]qk :OUZqk'ZVWDV~i¸dj]
(66) \ae8]¼W`egkTci!yº]qkTy!b[w3ZoieegUh]le]w>]qk' [ZleQZ\cnihcnwz}º\]i¸]\UV^Zqp[ZZd9dTV^\V^Zi
(67) e \ckTYc!k#]lejZyc!p[Zqkji]i[\Zr>VegUc!beyhchpnZqkTiwPZi
(68) eV~iejZqk9p ZqieTVmcni :OUZ\ctwzY[]i!} gWdgc!bihvZqkJW U]qpnZ]i.V~i[\ZoieTV|pnZ»ejc\UccW'Z]qiZd9dgV^\oV^Zi
(69) e\cnkTYhcnk#]eXZy[chpnZqkTih]oih\ZWgegk9b \le`b[k'Z=µegU]aeAVW>ciZ egU]ae*w>]q[Vw V`W#ZhW*egUZz]yyk'Zqy[]lejZEk#Zle`bkTi>egc$]q_u_I\o_^]Vw>Uhct_^vZqkJW'=]leOegUhZHegVuwPZHegUZz\ctwzY[]i!}y[c[Z
(70) W Y!bx[_V^\ :µUhZ»k#Z]!W'ciV`WegU]leH]
(71) Wz_uci!y]
(72) WegUZdgc!b iv[ZqkJW>W'Z__OegUZ$\_^]oV^wWzVui.]$\ctwzY[ZaeTVejV|p[Z wP]qkT [Zle*egUZq}r>V^__Ik'Z\ZVmp ZP]qi]ow3chb i
(73) e<Z
(74) b ]o_egc»egUhZ «`iZleg±<Yk'Z
(75) W#Zqi
(76) e£pn]_bZPcnd*egUZk#Zle`bkTi[Wci ]_u_\_]V^w»W:6UhZ}>egUhZqk'Zdgcnk#ZEU]qp[ZA]iVui[\Zi
(77) ejVmpnZFejc\UccW'ZA\cnkjYc!k']JejZHy[c!p[ZkTi]i\ZHk9b _^Z
(78) W6egUh]le wP]q[Vw V`W#Z{ejc
(79) ej]q_W9b[kTY[_bIWa 03]qk`ej=&¬ ¬ x[=Y[t® -TiP:6V|k#ct_uZA«q¬t±µegUhZE]qx[V^_Veg}>ejcZl Y[cW`e \ci
(80) e kTc_]v]Ynej]JegVuci3ejcb[idgck'Z
(81) W#ZZiPZpnZi
(82) e'W£V`W1\U[]qk']\aejZqkTV`W'Zv ]
(83) W]lbegUckTVeg}F]_egUc!b[yU:6V k'ct_uZDvctZ
(84) Wic!e>_uV~i ³]lbegU[cnkjVe`}r3VeTU¨c!rzihZqkJW'UVuY[=]wP]le`ejZqk\citW'V^vZqk'Zv x[Z_uc!rO:µUV`WegUZcnk'ZaegVu\]_W9egk']qihvV`WHbW#ZdXb _gµVeA\qk'Z]lejZ
(85) W]_uVui x[Zle`r3ZZiD]qy[Zi\q}xn]hW#Zv]ih]o_u}W#ZhWctd dTV|k'w y[c!p[Zqk'ih]oih\Z ]iv]Wgb[yy[Z!W9ejZvWjU]qk#ZoUhct_uvZq
(86) k ^_uct\qbWFcnd<]lbegUhcnkjVe9 } 9:OUV`WzW'U]k'ZUct_uvZk_uct\abWctd ]lbegUhcnkTVe`}¸]
(87) W$egUZx[]!W'V`W8dgcnky[chpnZqkTi]ih\ZvVXW@\abWaW'Vucti§V`W8]_`W'c¸]qYY[]qk'Zie$V~iegUZegk#]qiW']\aeTVuci§\cfWge ]qih]o_u}W@V`W$ctd wP]qkj [Zle'W$]qihvªUV^Zqk']qk#\oUV^Z
(88) W»«j²³V__uV^]
(89) wW#cni[=¬° ±a£-Ti].\cniejZl!ePcdP]!WJW'ZaeWjY[Z\VudTV^\oVe9}n= cYYckXe`b[i®VXW'w ]ihvQd`k#Z
(90) b Zi
(91) e<c!k'vZk'=&]qi!}ckTy[]qiV`W#]leTVmcni[]_Ow>c[vZ3egUh]leV`W)ihcni UVZk']qk'\UV^\]_&r>Vu__£WgbdTdjZqk d`k'ctw egk']qi[W@]\lejVuci\cfWgeVuiZdTdgV^\oV^Zi[\V^Z
(92) Wa&-'i.W'Uck9e<r>Z\]iW'ZZ]\ctw>w>cniegU[ZwPZ»kgb[iiV~iy8egU!k'c!b[yU wzb \UcndzegUhZegk']vVeTVmcnih]o_]qYYk'c[]\qUegcªyhchpnZqkTih]oih\ZegU]leZqwzY[U]W'VXW@ZW$]i]i]_~} WJV`Wx[]
(93) W@Zvªci]i ]qYYk'cY!kjV]aejZQ_mct\lbW3cndA]abegUckTVeg}O-Ti]vvnVejVuci=6egUV`W>]YYk'cY!kTVm]lejZ_uct\abW>ctdA]lbegUhcnkjVe9}V`Wzp[VZqr3Zv.Vi ejZqkTwPWctd*]>vctw>Vui[]i
(94) e*2Ai!y[_uc Mt]a[ciy[chpnZqk'i]i\Z WT} WTejZqw]_ejUc!b[yUVe*r>Vu__x Zz]qkTy!b ZvW'Uck`eg_m}PegU]le egUVWOp[V^Zlr¸cdI]EW'Vuiyt_^Z)2Ai!y[_uc Mt]qncni WT} W9ejZw¸VXWµ]oi3chpnZqkJW'Vuw>Yt_^V~djV\]legVmcni>cdk'Z]_Ve9} . q ^ &¡£ !%f# "~g¤ {"| q¡@"~9¤"$
(95) + ¡. :OUZdjV|kaW9e>w>]T'ck V`WaWgb ZegU[]ae>\]ix[Zk']V`W@Zv]xnchbee UV`WW'Uh]qk'ZUct_mvZqk _uc[\lbIWPctd]lbegUck'Ve9}.p[V^Zlr ctd \ckTYc!k#]lejZ yc!p[Zqkji]i\Z$VXWZw>YtV k´V^\]_Zqp[V^vZi\Z egU]aeEWgb[yy[Z
(96) W9e'WHvnV|p[ZkJW'Veg}Dctd)y[c!p[ZkTi[]i\Zdgcnk'wW]qk'Z Vw>Y[ckXej]i
(97) eVuiYk#]\lejVu\Z$«#dgckAZln]ow>Y[_^Z=µ½FZ\U
(98) e ¯ ]_* F4C/67>=O[ */]qkTY[Zi
(99) ejZqk#=51] ocniVu\ ¯ .
(100)
(101) 9M!b _~_^V|p ]oi[. k']ivck'Vu=[±:OUVW<chxW#ZqkTp[]lejV^cni$cd*y[chpnZqk'i]i\Z>vV|p ZqkJW'Veg}wPVuytUe)Wgb[yy[Z
(102) W9eC] \ci\_bIW'VuctiEegUh]le]EW'Vuiyt_^Z)p[VZar¸ctdy[c!p[Zqk'i]ih\ZHd`b i\lejV^cniVui!y>x[]!W'Zvci>_uc[\lb&Wµcnd]lbegUckTVeg}zk#Z]!W'ciV~iy V`WVui[]vZ
(103) b ]lejZ§ytV|pnZoi¹k'Z]_ r3ck´_mv y[c!p[Zqk'i]ih\Z]\lejV|p[Veg}2 \U]k']\lejZqk'VWgeTVm\sr>]q} ctdvZ
(104) W@\qk'V|x[V~iy y[c!p[ZqkTih]i\ZzvV|p ZqkJW'Veg}$Vui!p[c [Z!WvV~djdTZqk#Zoie*yc!p[Zqkji]i[\Z WT}WgejZowPW'=dgckZln]wY[_^Zz2Ei®yt_uc M[]lncn i /cniegVuiZi
(105) ej]_&4*b[k'cnY[Z]qi8ck?a]qY[]qihZ
(106) W'Z«T2y[_uVZae`ej] ¯ ;
(107) lx
(108) qk'Vuchb[[=O[ O2A_u_Zih=µ[ [O/cd9djZZ=O[ [ 51] ciV^\q ¯
(109) 9M!b __V|p ]i=[!2Ac tVm=»¬t ±a<:OUZ.dgcnkTw3Zqk»xnZV~iyx[]!W'ZvªciZdgdTV^\oV^Zi
(110) ed9Vui[]i\Z wP]qkT [Zle'W<]ihv\U[]qk']\lejZqkTV`W9ejVu\>]qk'wW _^Zi!y!egUk'Z_^]lejVucniWjUVYWx[Zle`r3ZZqi$Yk'c!p[Vuv[ZqkJW<ctd£djV~i[]ih\Z ]iv$dTV|k'wW :OUZ_^]le^ejZqk>VWPd9k'Z
(111) b ZoieT_|}¨\U]k']\lejZqk'VW#ZvVui.ejZqkTwWPcnd3]Wgej]q [ZqUhcn_uv[Zqkzp[V^Zlr ctdegUZ8d9Vuk'w r3VegUihcti ]qk'w W _^Zi!y!egUQ]oihvVui
(112) ejZk']\legV|p[Z k#Zo_^]legVmcniW'UVuYWA«´W#ZZ]_`W@cQ½<_u]Vuk'=H¬¬ 73cnih]o_mvfW#cni ¯ ¦Ik'Z
(113) Wgejcnih=H¬¬ BZ__u} ¯ ]_`=6¬¬°f,Vej\U[Zo_u_ ¯ ]_`=6¬¬°!±a:OUV`W£y[c!p ZqkTi]ih\ZWT}WgejZw»W1]qYYk#ct]\Uzejcv!V|p[Zqk@W'Ve9}vc[Z
(114) W ic!eg=OVuiYk'Vui[\VuYt_^Z=b[ihvtZqk'w>Vui[ZW'U]qk#ZoUhct_uvZqk_mct\lbIWFcndF]lbegUckTVe`}k'Z]
(115) W#cniVuiy-9e<VW<Y[cWJW'V|x_^Zejc8]qkTy!b Z egU]ae¸d9Vui[]i\V^]_ªy[_ucnxn]_V`W']lejVuci=]iv egUhZ k'Z
(116) Wgb_ejVuiy©\cnwzY[ZaeTVejV|p[Z Yk#Z
(117) WaW9b[k'ZW'=ªV`W¶_^Z]vVuiy ejc] \ci
(118) pnZqkTy[Zi\Zcd)dTVui[]i\V^]_{WT} W9ejZwWA]_ucti!yegUhZ»_^V~i[Z!Wcd)]i82Ai!y[_uc Mt]a[ciw3ctvZ_gf½beFVeVWx}Dic wPZ]iW<chxp[VmchbW£egUh]le] Wgegk']qV|y[U
(119) ejdgcnkgr>]qk#v\ci
(120) pnZqkTy[Zi\Z>VXW<c[\\lb[kjkTVui!yt-jiUV`WAW9e`b v!}$ctdOegUZ>Zqp[ct_beTVuci cdEy[c!p[Zqk'ih]oih\Z]ihvZwY[_ucn}hwPZoiezk#Zo_^]lejVucitWVui.LM]iv?]qY[]i[Z
(121) W'ZD\cnkjY[c!k']egVmcniW#={?a]\c!x}¨«9[ ± W9b[yy[ZW9e'W&egUh]leVeVW*ic
(122) eIYcWJW'V|x[_^Z{egcP\qci\_b vZ{egUh]le\qci
(123) pnZqkTy[Zi\Z{ejc>]EWjV~i®yt_^Zw>c[vZo_[V`W*c[\\lb[kTk'Vui!y ²UV^_ZegUhZZq[VXWgejZi\Z¶cdvVudTdTZk'Zi
(124) ey[c!p[ZqkTih]i\Z WT}W9ejZwW·\]iic!eg=x} Ve'W#Z_dg=Qb ivZk´w>Vui[ZegUZ W'V|y[iVdTV^\]ih\
(125) Z$cdA]W'Vui!y[_Z]oih]_~}eTV^\]_£Y ZqkJWjY[Z\lejV|p[Z=£]$_]\q cndA\cni!pnZqkTy[Zi\Z$VXWPW9b[yy Z
(126) W9ejV|p[Z egU]le<egUZ WTU[]k'ZqUc[_uvtZk£_uc[\lbWcd*]lbegUckTVeg} p[V^Zlrºc[d&y[c!p ZqkTi]i[\ZzV`W£Vui[]v[Z
(127) b ]lejZA]
(128) WC]E\c[wzYt_^ZlejZAZqY[_^]oih]lejVucniPctd dTV|k'w¹y[chpnZqk'i]i\Z®n½be]>_u]\q ctd1\ci!p[ZqkTy[Zih\Z=x}VeJW#Z_~dj=Y[cW'ZW<]
(129) b ZW9ejVucnix!beCvc[Z
(130) Wic
(131) e1YkTc!p[VuvZ ]qi¨]itW9rZqka£:OUZk'Zr>c!b_mvªW'ZZw ejcx[Ze`r3cr>]q}[W$cdz\cnih\
(132) ZY!e`b ]o_uV`W'VuiyegUhZici \cnip ZqkTy[Zqi[\Z8ctd y[c!p[ZqkTih]i\ZzWT}WgejZowW:µUhZEdgV~k@W9e&bW#Z
(133) W'=rzUh]le*w>V|ytUe&xnZz\]_u_Zv=]Ew>]\k'c VuiW9egVe`begVuci]_k#Z]
(134) W'ciVuiy
(135) GIck Zln]ow>Y[_^Z ?a]\c!x}Q«9[ ±)k'ZdTZqk@W{eXc»egU Z Zwzx Zvv[Zv\cnkjYc!k']JegVuc i ejc8ZqwYtUh]hW'V`W#Z3egUZ>Y[ctVui
(136) e*egU]le{]q_u_ dTV|k'wW¨]qk'Z¸Zw3x ZvvZv Vui ]¼r>V^vZqkWT}WgejZow cd.V~iWTegVe`begVucnih]_]qkjk']i!y[ZwPZoie'Wa:OUVW¨V~iWgeTVe`begVucnih]
(137) _ Zwzx[ZvZvi[Z
(138) WaWcd.\cnkTYhcnk#]ejZ¼db i\lejVuciVuiy Z\Uc[Z
(139) We UZªr3cnkj cd./cw>w>ctiW«q¬¬ ¬! ±rzUhc W9b[yy[ZW9ejZvegU]lePr>ZW'Uc!b_mvªbihvZqkJW9ej]iv³egUhZd9Vuk'w ]
(140) W]ªWT}WgejZow k9b_^Z
(141) W#=Ex!bekgb_uZ!WegU]ae$wEb&Wge x Z \citW'V`W9ejZi
(142) er>VegU>UVuytUhZqkOk9b _uZ!W*]iv>w ]\qk'c VuitWgeTVe`begVmcni[WoGb[kgegUZqk'w>ck'Z=Vudr3ZHdgct_u_uc!r¼egUhZH_mcny[V^\3W#Zlechb®e x}PNPcnk9egU$«¬¬!±6egUVW<Zwzx ZvvZvk9b_^Z
(143) WF]qYYk'c[]\qU eXc»y[c!p[ZkTi]i\Zr3V__O_^Z]vejcY[]JegU$vZqY[ZqihvtZih\oV^Z!W ]qihv_uc[i!y k9b[i.ih]lejVucnih]_{yk#chregUvnVWjY[]qk'VejVZWa&¦]legU.vZqY[ZivZi
(144) eZlpnct_bejVuci]qkT}DYk'c[\Z
(145) WJW@ZWEr>V^_~_x[_uc[\o ]qi!}P\cni!pnZqkTy[Zi\Z]ihvVuiW9ejZ]vr3V~_u_ vZlejZqk'w>Vui[ZHVuiW9egVe`begVucnih]__~}WTY[Z\VdgV^\\ctwzY[]k']lejVmpnZ]v!p[]i
(146) ej]qy[ZWa ²UV^_Zr3Z]\\ZqY!e1egU]le£egUV`WAw>]\qk'c VuitWgeTVe`begVucnih]_6x[_uc\q [Vui!yDctd<\ci!p[Zqkjy[Zoih\Zb ivZqk'w>Vui[ZhWH]W'Vw>Yt_^Z p[V^Zlr¸c[dy[c!p[ZkTi]i\Z{r3Z{r>V`W'UEegcP]vvHeXcHegUV`WOk'Z]
(147) W#cniV^i!yP]w>cnk#Z\cnwYt_^Zq>Y[V\ae`b[k'Z!:OUZEW'Z\cnihvEr>]} . .
(148) cd8\ci\ZqY!e`b ]_uV`W'VuiyegUZ¼ihcni \ci!p[ZqkTy[Zih\Z¼V`WJW9bfZ
(149) W.V`W#=r>Z§W9b[yy[Z!W9ej= yhcnVui!y¸x Z}hctihv]³p[V^Zlr ctd uy[chpnZqkTi[]i\Z>WT}W9ejZwW egU]le*Uh]pnZzUctw>cy[ZqihchbWVui
(150) ejZkTi]_OW9egk9b \ae`b[k'Zz]qihv dbi[\legVmcniVuiy!GIckZl[]w>Y[_Z= egUZk'Z)U[]
(151) W*v[Zqp[Z_ucY[ZvEr>VejUV~izLM]ivELzB¸dgVui[]oi[\V^]_&WT}WgejZw»Wµ]3W'Vuy[iVdTV^\]i
(152) eIk'c_uZdgcnkOYk'V|p ]lejZEWgej]qkXe b[Y d`bihvnVuiy]ihvp[Zi
(153) e`b[k'ZA\]qY[Vej]_`:OUV`W)Wgej]qk9e b[YPdb[ivV~iyV`W#=fVuiPy[ZoihZqk']_^=ic!e*\qUh]qk']\lejZkTVW'Zvx} 2Aiyt_mc M[]l[c i º]qk'wW _^Zi!y!egU¶k'Z_u]lejVucitW'UVuYW.x Zle`r3ZZqi¹d9Vui[]i\V^Zqk¨]iv dgV~k'wP-TiW9ejZ]vºegUhZqk'ZV^W¼W9egk#]ejZqyV^\ Vui
(154) ejZqkTpnZoieTVmcniº]iv]iVui
(155) ejZk']\legV|p[Zk'Z_^]leTVmcni[W'UV~Y¸egU]leDVW.w3cnk'Z·\U]qk']\lejZqkTV`W9ejVu\·cnd qx ]i! ¸x ]
(156) W'Z v o= VuiW'V^vtZk ¹\cnkjYck']ejZyhchpnZqkTi]ih\Z=ck§W`ej]q [ZqUc_uv[Zqk46b[kjcY[Z]qi WT}WgejZw WaDMtVuw V^_]k´_u} W'VuytiVudTV^\]i
(157) e ejZ\qU®iV^\
(158) ]_]iv wP]qkT [Zae·\qU]i®y[Z=r>VejU k#Z
(159) W9b _ejV~iy ihZlr dTVuk'w vZqp[Z_ucYtwPZi
(160) ej=k#Z
(161) b[V|k'Z
(162) Ws\qk'Z]lejV|p[Z y[c!p[ZqkTih]i\ZW#ct_bejVuciWV~i\U]qk']\lejZqk'VW9ejVu\H4*b[k'cY[Z]qi$W9}WgejZw»WC«92y[_V^Zle`ej]z]qihv ;
(163) lx
(164) qk'Vuc!b[[=[ ±a:OUZ k'Z]W'cidgckegUV^W6ihcni Uctw>cy[ZqihZoVe9}PV`W*ic!eIv!Vud9dTV^\lb _eejczV^vZoieTVud`}IoegUhZ\ctwzY[_^Zq[Ve9}cndId9Vuk'wy[c!p[Zk´ih]i\Z V`W£Vui>y[ZiZqk']_ejccyk'Z]eegc>k'Zq_|}PciW'V~iy[_^ZHUhctw>cy[Zqic!bW£Wgegk9b \le`bk#Z
(165) W*]ivzYk'c[\Z
(166) W@W'Z
(167) W!:6UhZ)y[chp ZkTi]i[\Z WT}WgejZw©Ve'W'Z_^dwEbIW9ePx[Z]le$_uZ]W9e$]W\ctwzY[_Zq]
(168) WegU[ZZqi!p[Vuk'cniwPZi
(169) e$VeV`W\cniegkTc_u_Vuiy{²U!} egU[Z Zqi!p[Vuk'ciwPZoieOw>VuytUex[ZHp[V^Zlr3Zv ]W£\ctwzY[_ZqVXW1]wP]le`ejZqk*\cni[W'VvZk'Zv3xnZ_uchr3=!r>U[ZiEegUV`W£\ctwzY[_Zq[Vej} V`WAvV~k#Z\lej_m}D_^V~i [ZvejcegUZV~ih]v[Z
(170) b ]\q}DcdEW'U]k'ZUct_uvZk_uc[\lbWAc[d)]abegUckTVeg}k'Z]
(171) W'ciVuiyf03Zi\Z]!WA] y[ZqihZqk']_tYk'Vui[\VuYt_^Z)r>Z{r>V`W'Uzejc ZwzYtUh]!W'VXW#ZFegUh]leIy[chpnZqkTih]oih\ZEWT}W9ejZwW1]qk'ZVui
(172) ejZqk'i]_^_~}P\c[wzYt_^Zq>k']aegUZqk egU]iUhctw>cy[Zqic!bW'=[V~degUZq}]qk'Z{ejczx[Z)y[ZiZqk#]o_^_~}PZdgdTZ\qegV|p[Z!½beZ
(173) b ]_~_u}>r>Z)k'ZT@Z\leegUhZ)Y[cfW@W'Vmx[V^_Veg}Pctd \ci
(174) pnZqkTy[Zi\Zcd&\cnwzY[_^ZqWT}WgejZowWOx[Z\]lbIW'Zcd&VuiW9ejVe`begVuci]_WTY[Z\VdjV\VejV^Z
(175) W*]ivzY[]legU3vZqY[ZqivZi[\V^Z
(176) Wa . q ^ &¡£ !%f# "~g¤ {
(177)
(178) &)%j"~^Iq¡. -Ti]vvnVeTVuciejcy[ZqihZqk']_c!xW'ZqkTp[]aeTVucitWC]qx[c!be&egUZvnV|p[ZkJW'Ve9}ctdOy[c!p[Zqkji[]oih\ZWT} W9ejZwW] W'Z\cnihvQW#Zle1cnd ZwzY[V~k'V^\]_V`WJWgbZW6Uh]!W6_mZvEejcegUhZ
(179) b Z
(180) W9egVmcniVuiyPctd&_mct\lbW1cdI]lbegUckTVeg}zk#Z]
(181) W'ciVuiy[=ni[]wPZ_|}>y[chpnZqk'i]i\Z dj]oV^_|b[k'Z![MtV|y[iVudTV^\]i
(182) evnV^W@\lbWaW'VuciU[]W*\ci\Zi
(183) egk#]lejZvzciz2Ai!y[_uc Mt]qncni>\]
(184) W@Z
(185) W*ctdIdg]V_|b[k'Z]iv>\ckTY[c!k']JejZ \ck9kgb[Y
(186) egVuciP«#dgck*Zln]ow>Y[_^Z{egUZ)LMP\]!W'Zctd4i®k'ci!±a½beOZ
(187) b ]q_u_~}Py[chpnZqkTi[]i\ZHdj]V_|b[k'Z]ivP\cnkjk9b[Y
(188) egVuci U]!WAc[\\lb[kjk'ZvVui46b[kjcY[Z«9dgcnkAZa[]wzY[_Z¦]qk'w>]_^]leg±a:OUV`W)x ]\q yk#chb[ihvvV|p[Zqk@W'Ve9}W9b[yy[Z!W9e'W)egUhZqk'Z V`W icW'VuwY[_^ZZlY[_^]i[]leTVmcni o½be[ej]q [Z=!dgck*Zl[]w>Yt_^Z{egUhZ{p[VZar¸ZqYk'ZWaW'ZvEx}$M!egV|y[_Ve A«g[ =nY> !±l 41i!k'ci]ivVe'W]\\chb[iej]i
(189) e'WAW'cw>ZlejV~wPZ!WAW9ejZqYY[ZvchpnZokegUZ _uVui[Z=x!be<wEbf\Ucd6r>U[]ae£4£i®k'ci vVuvr>]!W_^Zqy[]_ z41i!k'cibW'Zv ]\\chb[ieTVui!yegkTVm\q W.egUh]le8r>Zqk#Z¼V~ih\qk'Z]!W'Vuiy[_~}¶x[Z\ctw>V~iy W9ej]iv]qk'vO-`e]qYY[Z]qk@WEegU]aeAVe'W>\qUV^ZdzdgVui[]oih\V]_<ctdgdTV^\ZkzwP]vZ»egUhZW']wPZvVXW@\chpnZqkT}egU]ae>W'c wP]i!}$c!egUZqk\c!kTYck']JejZzZl[Z\lbegV|p[Z!WwP]vZzv
(190) b[k'Vui!y egUZziVui[ZlejVuZ
(191) WlhegUZ W#]owPZz]\\c!b[i
(192) ejV~i®y egkTVu\q W egU]ae*\chb[_uvx Z)bW'Zvegcv!V`W9ejc!k`eOVuidgck´wP]lejVucizejcx[ccWXe1W9eXct\q Pw>]qkT [ZaeOYk'Vu\Z!W1\c!b_uvxnZFbIW'Zv3ejc Zqi®k´V^\UEegUhZowW#Zo_|p Z!W*]le egUZZlhY[Zoi[W'ZcdIchegUhZqk£WTUh]qk'ZUc_^vZqkJWa O: UZqk'Z]k'Ze`rc [Zl}QVXWaWgb Z!W)egc8ic
(193) egVu\ZVuiegUVXW
(194) b chej]JegV^cni fGIV|kJWgeF\cnkgk9b[Ye)Yk#]\egVm\Z!W)r>Zk'Z]qYY[]qk'ZieT_u} r>VuvZ!WjYk'Z]v>V`Z!oegUhZqk'ZV`W*]EWT}WgejZow¸k']legUhZqk&egU]i>\ctwzY[]i!}WjYZ\oVudTV^\)Yk'c!x[_^ZwtM[Z\civ_|}[=[Zow>Y[U]!W'V`W*V9W Y[_u]\Zvci]\\chb[ieTVui!y$dg]V_|b[k'Z
(195) Wt2Avw Ve`ejZvn_|}>egUV`W<]\\chb[iegVui!y$dT]Vu_|b[k'ZzZqY[_^]oih]lejVucniV`W<\c[w3x[Vui[Zvx[} .
(196) !M egV|y[_~Ve r>VegUe`r3c c
(197) egUZkdg]\lejckJW]qi¹VuwY[ck9ej]qie.kjcn_mZdgcnk¨vZqk'Zy!b_^]legVuci¶Y[ct_uV^\oV^Z!W.egU]leD4£i®k'ci ZlhYt_uc[VejZvA]ivsW#Z\civ_~}_~Vui ]qy[Z
(198) W$x[Zle`r3ZZqi4i®k'cni·]qihvªy[c!p[Zqkjiw Zie$]qy[Zqih\VZ!W{½be8M
(199) egV|y[_uVe 9W Vui
(200) ejZqkjYk'Zlej]JegVucni·V`W»egUh]le 41i!k#cnix[c!b[yU
(201) e$Ve'W'Z_udVui
(202) ejcegUZ
(203) W#Z]y[Zoih\VZ!W#=z]qiv·ZqY[_uctVejZvegUZ.Y[cfW'VeTVuciW Vui!p[ct_|p Zv=!x[Z\]abW'ZctdIw ]_uVuyti>Vui
(204) ejZie@o½<}>VuwY[_V^\]aeTVuci[=k'Zqw>c!p[Z{egUhZHwP]_Vuy[izYk']\legVm\Z!W*«Xx}>k'Zw>cp[V~iy ]\\chb[iegV~i®ydj]Vu_mb[k#ZhWj±]qihvegUZEYk'c!x[_uZw¶V`WW'ct_|p[Zvn-jiWTUhcnkgeOr>ZzW'ZZweXcxnZz]lx[_^ZHeXc k'Z_m}ci]z_uc[\lbW cd&]abegUckTVeg}Ep[V^Zlrscndy[c!p[Zqk'i]ih\Z ]
(205) W*_ucni®yP]
(206) W*Ver>ck9 WYk'cnY[ZakT_|} ½be6egUhZqk'ZP]qk'Z=O]qkjy!b ]lx[_~}h=6W9egk#cni®yk'Z]
(207) W#cni[W{r3U!}8]\\c!b[i
(208) ejVui!y8dj]oVu_|b[k'Z wPV~y[U
(209) e1x[Z ] ihZ\Z
(210) WaW']k#}$x!beCic!e W9b dgdTV^\oV^Zi
(211) e]\\c!b[i
(212) eQcndy[chpnZqk'i]i\Z¼dj]V_|b[k'Z!M!b d9dgV^\
(213) V^Zi\q}¸r>c!b_mvk'Z
(214) b Vuk'Z³bW8ejck'Z\cnyiV`W'ZegUZ WTUhcnkgej\qcw>V~iyWPc[dHegUhZW'U[]k'ZUc_uvtZk ]abegUckTVeg}.Y[ZqkJWjY[Z\legV|p[Z!1:µUhZwP]V~iYk'c!x[_^Zow r>VejU]icnY!egVuwP]
(215) _ Vui[\Zi
(216) ejV|p[Z!WcnkA]qy[Zi\q}DdT]V_|b[k'Z p[V^Zqr cndF\cnkjk9b[Y
(217) egVuciV`WegU]aeZd9djZ\lejV|p[Z$Z®ejZqkTih]o_1vZlej]Vu_^Z
(218) vD\ci
(219) egkjcn_1cnd wP]i]qy[Zqk'V^]_&x[ZU]qp[Vuc!b[k)V`W<Vuiy ZiZqk']_Oihc
(220) e£YhcfW@W'Vmx[_^Z>V~i$egUZ>\ckTYck']JejZW#Z\leXc!ka[:µUV`W<\ci
(221) egk'c_k'Z
(222) b V|k'Z!W egU]ae.w>]i]y[Zqk'V]_x ZUh]p[Vmchb[kV^W\cniWgegk']qVui[Zv ]ihv Zqih]x[_^Zv Vui ]sYk'ZvnV^\lej]lx[_^ZwP]iiZka½be8egc \citWgegk']qVui]ihvZi]qx[_^Zx[ZUh]p[Vmchb[k<V~iegUV`WwP]iiZqkk'Z
(223) b V|k'Z
(224) WFZq!ejZqkTih]_O]qy[Zi
(225) e'W<U]qp[Vuiy$ tihchr>_mZv!yZ>ctd «T]q±D\cnwY[]oi!}§egk#]qitW'dgck'w ]aegVucni§Yk#ct\ZWJW'Z!WD]qihv«9xh±wP]i]y[Zqk'V]_PYk'ZdgZqk'Zi\Z
(226) Wz:OUZ
(227) W@Z ic!r>_uZv!yZ ]
(228) W@W9b wY!ejVucitW$_V^Z.]le>egUhZ.\cnk#Zcd3egUhZegUZck9}³cndPcY!e`V^w ]_zVui[\ZieTV|p[ZWa<:µUhZdj]\le>egU]ae w3]oih]qy[Zqk'V^]
(229) _ Yk'ZqdjZqk'Zih\Z
(230) W]qk'Zici c!xW#Zqk9p ]qx[_^Z»V`WY[Zk´Uh]qYWAchxp[VmchbIWy[Vmp ZiegUhZW9b[x@Z
(231) \aegVmp Zi]ae`b[k'Zcnd<VuivVmp V^v
(232) b ]_ Yk'ZqdjZqk'Zih\Z
(233) W1]ivEegUZiZ\ZhW@W']qkT}P]!W@W9b wY!ejVuci>ctdIV~iWgegk9bwPZi
(234) ej]_u_~}3k']lejVucnih]_]qy[Zie'Wa0>Zqih\Z=tVuizYk']\aeTVu\Z Vui[\Zi
(235) ejV|p[ZzWT}W9ejZw W*wPV~y[U
(236) exnZFxn]
(237) W@Zv>cni3]
(238) WJWgbwPZv>]oihv W9ejZqk'Zc e`}®Y[V\]o_^_~}Wgej]qiv[]qk'vExnZoUh]qp[Vuchb[k
(239) -9eIw>]q}n= cd*\chb[k@W'Z=tx[ZegUZz\]W'ZHegUh]leOegUZzVui\ZieTV|p[Z>WT}W9ejZw¹\]qbW'ZW6egUZ]
(240) WaW9b wPZvxnZU]qp[Vuc!b[k{V Z®hegUhZEk'ZlpnZqkaW'Z cdCegUhZ»_mcny[Vu\egU]aeZ\qcicw>VXWge'WA]
(241) W@W9b w Z®&:OUV`Wk'Zqp[Zqk@W'Z_ucny[Vu\V`WA\ciW'VXWgejZqi
(242) erVegU8w>ck'ZW'c[\Vucn_mcny[Vu\]
(243) _ p[V^ZlrW*c[d&VuiW9ejVe`begVuci]_d`bih\lejVucniVuiyzegU]aep[V^ZlrºVuiW9ejVe`be`Vmcti]_dgck'w»Wµ]hWIr>V^vZhWjYk'Z]vzx[Z\]lbW#ZFegUhZq}P]qk'Z p[V^Zlr3Zv]
(244) WP]qYYk#cnYkTV^]lejZ8]qihv_^Zqy[VeTV^wP]lejZ={ihc
(245) eExnZ\]lbIW'ZegUhZ}¨]k'Z8cnY!egVuwP]_`µ7>V),]qyy[Vuc ¯ ¦chr3Z__ «q¬t ±>ZaY[_~V^\Vej_~}k'ZT'Z\le)egUhZ»p[V^Zlr egUh]leAVuiW9ejVe`b!egVmcni[]_)V^W'ctw>ckTYUV`W'w _^Z]vtWEejcZqd9dgV^\VZih\}n=]qkTy!b V~iy VuiW9ejZ]v»egU]le<V`W'c[w>cnkjYUVXW'w _^Z]vW{ejc8Zdgd9V^\V^Zoi[\q}xnZ\]qbW'Zk#Zo_^]lejVucitWAwzbW9e£x Zp[V^ZlrZv]!W_^Zqy[VeTV^wP]lejZ x[Zdgck'ZHegUhZ}»]qk'ZEY[cWJW'V|x _^Z![:µUV`W<_ucny[V^\ W'ZZwW)dgZ]
(246) W'V|x _`ZHrU[ZiwP]oih]qy[Zqk'V^]_Yk#ZodjZqk'Zih\Z
(247) W<]qk'Zzihcheµcni_u} ic!echx W'Zqkgp[]qx[_^Zx!be»]o_^W'c§\qk'Z]lejZv³x}¨egUZVui[\Zi
(248) egV|p Z³WT} W9ejZw WegU]ae$]qk'Z\qUh]qk']\lejZk´V^W9ejVu\]o_u_u}ªbIW'Zv ²VejUVui¸Z\cictw>V^\
(249) W$egUVXWk'Z]
(250) W#cniVuiy¸V`W8\citW'V`W9ejZie r>VegUr>ckT egU]le8Wgb[yy[Z
(251) W9e'WegUZ d`k']w Vuiy ctd Yk'c!x[_uZwW*]d9djZ\le'W*vZ\oV`W'Vuc[itW*«9B]UiZwP]i ¯ :&p ZqkJWj n}h=6¬°¬=&¬t ± q ^ &¡£ !%f# "~g¤ {
(252)
(253) & !% >^ . [M c3rUVu_ZEWgej]qiv]k'v>]qy[Zi\q}P]!WJWgbw>Y!ejVucni[W1]xnchb®eI ic!rA_Zv!y[Zctd&wP]i]qy[Zk´V^]_[Yk'ZdgZqk'Zi\Z!W£W#ZZow¼ejczx[Z W'cwPZlr>Uh]leF]qkXegVudTV^\V^]_£ckAZl!egk#ZqwPZ=µy[V|p[ZiegUhZ]oih]_~}W@V9WHcndy[c!p[Zqk'i]ih\Z=&r>U]leF]lxnchbe< ihchr_uZv!y[Zctd.
(254) \cwzY[]i!}egk#]qitW'dgck'w>]lejVucniYk'c[\Z
(255) W@W'Z
(256) W-9e>V^Wb ivc!bxejZv!_|}.egk9b ZQegUh]led9Vui[]i\V^]_EVuiW9ejVe`begVucitWV~i!p ZW9e \citW'V^vZqk']qx[_^Z3egVuwPZ ]ihvk'Z
(257) W#chb[k'\Z
(258) WVui
(259) ejc8]qih]o_|} W'VXWFctdwP]qkT [Zle{]qivVuiv
(260) bIW9egkTVm]o_&egk#ZqivtWt½{beCVW{egUV`WegUZ W']wPZ]!WD]vZ
(261) b ]lejZ [ic!r>_uZv!y[ZctdVui[vV|pV^v
(262) b ]_$\cwY[]i!}¸Yk'c[\Z
(263) W@W'Z!W -9eQVXWDic!e$b[i\cw>w>cti¸V~i xk#]oih\UZ!W*cd&Z\cnihctw>V^\
(264) W&egU]aeOZwzY[U]W'VXW@Z{egUhZHVuw>Y[ck9ej]lih\ZctdYk'c[v
(265) b \eIw>]kT [ZleZlp[c_bejVuci>]iv>\U]i!y[Z egcExn]
(266) W'Z]i]_u}W'V`W*cidgVuk'w»WIr>VejUVmvnVucWT}i[\k']lejVu\\ctwzY[ZqejZqih\Z
(267) WoGIck*Zln]owYt_^Zw3b \U>cdegUV`W&r>ckT EbW#Z
(268) W egUZzW'Zw>Vui[]_trzk'VejVui!ycnd¦OZi®k'cfW#ZE«¬ ®¬!±'=h;<V^\U]qk#vtW'ci«q¬°!±*]qihvENPZ_XW#cni ¯ ²Vui
(269) ejZk£«q¬t±
(270) Gkjcnw egUVW1YZqk@WTY[Z\lejV|p[ZE [ic!r>_uZv!yZzcd1\ctwzY[]i!} egk#]qitW'dgck'w ]aegVucniPYk'c[\Z
(271) WJW#Z!W]qk'Zzihcni \ctw>wzbiV^\]qx[_^Z=x!be VuiW9ejZ]v]qk#Z_^]qkTy[Z_~}.ej]\oVe@£:*c]\
(272) b[V|k#ZW9b \U. [ic!r>_^Zv!y[Zk'Z
(273) b V|k'Z!WP_Z]qk'iV~iyx}¨vctVui!yVui!p[ct_|p[Vuity ]\le`b ]_~_u}b ivZk9ej]q [V~i®yegUZzegk']qi[W'dgcnk'wP]legVuciYk#ct\ZWJW@Z
(274) W)egUhZw W@Z_mp ZWat½)}QvZdTVuitVeTVuci8Zq!ejZkTi]_Oc!ri[ZqkJW egUZk'Zdgcnk'Z.\]qiic!e]\
(275) b[V|k'ZW9b \U [ic!r>_uZv!yZ=AZlp ZiVd>egUZ.Zq!ejZqkji]_zc!riZqkaW$]qk#Z_^]qkTy[Z.dTVui[]i\V^]
(276) _ VuiW9ejVe`begVucitWC« gM!b_^_V|p ]i=[tGIcWJW ¯ /{U®k´V`WgejZqiW'Zi=[&[BAk']d9de ¯ ;A]qp[V|[=[ ®=[t;F]#@]i ¯ Vuiy[]_^ZhW#=n[&a± O: UZqk'Z{r3c!b[_uv W'ZZw§ejcxnZ{e`rcEr>]q}[W*cdk#Z
(277) W'\lb Vuiy _uc[\lbIW*cd&]abegUckTVeg}zy[c!p[Zqkji]i\Zd`k'cnw¼egUhZ)k'Z
(278) b V|k'Zv ic!r>_uZv!y[Z ]
(279) WaWgbw>Y!egVuciW<«TV~y[ickTVui!y$egUZV`WaWgb Zc[d£wP]oih]qy[Zqk'V^]_&Yk'ZdjZqk'Zi\ZP\qk'Z]aegVucni®±atGIV|kaW9ej=r>Z>\]i W9b[yy[ZW9eegU]le·y[c!p[Zqkji]i\Z cdªegUV`W¼eg}!Y Z VXW¸k'Z_^Zqp ]qi
(280) eeXc ]\legV|p[VejV^Z
(281) WVui r>UV^\U V^vVucfWT}hi[\qk']lejVu\ \cwzY[ZlejZqi[\Z
(282) W]k'ZbiVuw>Y[cnkgej]qi
(283) e#6-TiegUV`WP\]!W'Z8]i!}³]pnZqk']qy[Z=)Zq Y[cW9e ic!r_uZv!y Zc[dzwP]qkT [Zle3]qiv Vui[v
(284) bW9egkT}3\oU[]k']\lejZqkjVXWgeTVm\
(285) W£V`W1]{bW@Zdb_]ihv3k#Zo_^Zqp[]ie&y!b V^vZ{egczegUZ)Y[Zqk'dgckTwP]oih\ZctdIdTVuk´wW&r3VeTUVuizegU[Z
(286) W@Z wP]qkT [Zle'Wf½beF\q_uZ]qk'_|}egUV`WAk'Z_uZqp ]i\Zctd<]qp[Zk']qy[Z [i[chr_uZv!y[ZV`Wzic!eb[iV|p[ZqkJW#]_=*]iv8V~i8Y[]qkgeTVu\ab_^]qk x[Z\ctw>Z!WzVui[\qk#Z]!W'V~iy[_~}_^Z
(287) WaWAk'Z_Zqpn]oieA]
(288) W>VuihvnV|p Vv
(289) b ]_<dTV|k'w \cnwYZlejZi\Z!WExnZ\ctw3ZQw3cnk'Z$Vw>Y[cnk`ej]qie dgck\cwzY[ZlejVeTVmcni n2AiVw>Y[ckXej]i
(290) e*VuivV^\]lejck£cd&egUVWVui[\k'Z]
(291) W'Vui!y[_~}$VukTk#Zo_mZp ]ih\Zzcd*]p Zk']qy[Zzv]lej]AVXW*egUZ vZlpnZo_mcnY[wPZoiecnd.W9ejc[\q ¶w>]qkj [ZleWTY[Z\lb _u]lejV|p[Z¼x!b[xx[_`Z
(292) W :OUZW'Z§]qYY[Z]qkeXcx[Z§\U]qk']\lejZqk'VW9ejVu\§ctd Z\cicw>V^\\Vuk'\lb w»Wgej]qi[\Z
(293) W]ivªW@Z\lejc!kJW>egU]le3ZlY[_uctVezejZ\qU®ict_ucy[Vu\]_A]ivVuiW9ejVe`begVuci]_Vuiicnp ]legV|p Z k'Zlpnct_begVuciW$«X¦Zqk#Z =[!±J-Ti.egUZ
(294) W#Z.\oV kJ\abwW9ej]i\Z!W$VuivVmp V^v
(295) b ]_EdTVuk'w \ctwY[ZlejZqi[\Z
(296) W»]qk'Z [Zq}ejc Y[ZqkTdgck'w>]i\Z]qihv]qpnZqk']qy[Z) [ic!r>_uZv!y[ZV`W*_u]qkTy[Z_~}PV|kjk'Z_Zqpn]oie«XGk']qi[W'wP]oih=n[ ± O: UZW#Z\civQr]}ctd<k'Z
(297) W#\lbVuiy_uc[\lbW>cdA]lbegUckTVeg}8y chpnZqkTih]oih\ZV`Wzw>ck'Z]i]_u}
(298) ejV^\]_V~i.dgc[\lbIW]oi[v Vui!p[ct_|p Z
(299) Wk'Z\cyiV`W'V~iy¹Ve'W.Y[]qkgeTVu]_Z
(300) b V_V|xhk´V|b w \Uh]ok#]\lejZqkTV^W9ejVu\!WaP:µUV`W.k'Z]
(301) W'ciVuiy V`WZqp[V^vZoie.Vui ]qy[Zqi[\q}¹egUZck9}h=Yk'cnY[ZkXe`}¹k'VuytUe'W]i]_~} W'V`W'=8]iv ²V_^_V^]w»W#cniV^]i egk#]qiW']\aeTVuci \cfWge¨Z\cicwV^\!W «X03ctv!yWjci=)¬¬ 51]lrPW'ci=)¬¬ [=7V^ZlegkTVu\Uh=)¬¬ ±at-9e1dgct_u_uc!r WegU]ae_uc[\lbWcd]lbegUhcnk'Ve`}$k#Z]!W'ciV~iy iZZv8cni_u}x[Z k'Z_^Zqp[]i
(302) e<VuiWgejZ]v!}Wgej]lejZ \V|k'\abwW9ej]i\Z
(303) Wa:OUV`WAVXWxn]
(304) W'V^\
(305) ]_u_~}$ejUZW']wPZY[c[V~ie<]
(306) W)egUh]le TbW9ew ]vZ]hW*VuiP]3WgejZ]v!}W9ej]aejZ]lp[Zqk#]qy[Zv]lej]VXWµ]oi3]
(307) \\lb[k#]lejZ)VuivV\]lejcnkcndb ivZqk'_u}[V~iyP]\aeTV|p[Veg} :r3c Vw>Y[_V^\]lejVucitW.dgc[_~_mchr dgk'ctw k'Z\cyiV`W'VuiyegUZY[]qk9ejVu]_Z
(308) bV^_V|x[k'Vmb w x[]!W'V`WDctd_mct\lbIWDctd]lbegUck'Veg} k'Z]W'ciV~i®y
(309) GIV|kaW9ej=[]qi!}P\U]i®y[ZFeXc3egUZEWT} W9ejZw¸VXW*p[V^Zlr>Zv>]
(310) W*])k#ZhWjY[cni[W'Z egcP]qi>Zq[cy[Zqic!bW£W'Uhct\q GIck .
(311) lZ n]ow>Y[_^Z=Hr>VejU¼k#Z
(312) WTY[Z\ae egc¼y[c!p[ZkTi]i\Z=zciZªWgb \oU¸W'Uc[\q §w>VuytUex[ZªWgej]lejZVuiWjYtV|k#Zv¼k'Zqy!b _^]lejc!kT} k'Zqdgck'wejc rzUVu\UdTVuk'wW£k'ZWTY[civ!½beOrzU[]le*V`Wihche*Y[]ak9e*cd&egUV`W£Y[]qkgegV]_IZ
(313) b Vu_V|x[k'Vmb w¹]i]_~} W'VXW<V`W6egU[Z Y[cWJW'V|x[V_uVeg}8egU]le<egUZ$Z®ejZqkTih]o_<W'Uc[\q WzihZZvic!e)xnZQWTegkjVu\leg_|}Zq[cy[ZqihchbW#=µx!beAVuitWgejZ]v8Y[]qk9eFcnddgVukJw W9egk#]ejZqy!} :OUZW#Z\civ\U[]qk']\lejZqkTV`W9ejVu\DcndzY ]qk9egVm]o_AZ hb Vu_V|xk'V|bw k#Z]!W'ciV~i®yVXWPegUZQr3Z__k'Z\cnyiV`W#Z
(314) v V`WaW9b ZHegUh]le*Yk'c[\Z
(315) W@Ww>]le`ejZqkJWC]qk'ZEwP]qkjytVui]_^VXW@Zvcnk£V yti[ck'Zv[h;FZ_u]lejZvegcegUVW<V`W6egUZ Wgej]qiv]qk#v\qk'VeTV
(316) bZ egU]ae)egUZk'ZVW>ic\cwwPZi
(317) eciegUhZ_uZi!y!egU.c[d)eTVuwPZV~i!pnct_|p Zv.V~iW'UV^deTVuiy.x[Zle`r3ZZqiZ
(318) b V_V|x[k'V^]!O-Ti ejZqkTwPWcd*Z]qk'_V^ZqkvV`W'\lbWaW'VmctiegUV`WVui!p[ct_|pnZhW*egUZz_uZi!y!egU$cd&egVuwPZHegU]le*VmvnVucWT}i[\k']lejVu\z\ctwY[ZlejZqi\Z
(319) WC]qk'Z \ck'ZEegcdgV|k'w Wgegk']ejZyVZWa-'d6r3Z]\\ZqY!e1egUZ Vui!Y!be<d`k'c!w wP]oih]qy[ZwPZoie£x ]
(320) W#Zv»rk´VeTVuiy8«TdgckZln]ow>Y[_`Z 03]ow3Zo_ ¯ ¦Ik']U]_^]v=6¬¬ ±1\cniegVui
(321) b V~iy\cwzYZaegVeTV|pnZW9b \\Z
(322) WaW*k'Z
(323) b V|k'Z!WOegUZA\cniegVui
(324) b Zvzb[Yyk']vV~i®yctd b[iV
(325) b Z\ctwzY[ZaejZqi\Z!W*V`Z!egUZ)Ykjct\Z
(326) WJW*VW*]_^_!egU]leIwP]leeXZqkJW a+^"^!'" ¡£ $
(327) ²UhZqk'Z8vctZWzegUVXWP\k´VeTV
(328) b Z8ctd_uct\abWPctdz]abegUckTVeg}.k'Z]W'ciV~iy¨_Z]vejc.VuiejZqk'w WPctdvnV`W#\lbWaW'Vuctictd \ckTYc!k#]lejZyhchpnZqkTi]i[\Z®2¹dbihvt]wPZi
(329) ej]_OY[cnVuieVW)egUh]qeEW`ej]qihv]qk'vk'Z]W'ciV~i®yD\]iic!e{xnZb[iV|p ZqkJW']_^_} ]qYY[_uV\]x[_^Z!t½beCZ
(330) b ]_u_~}Ve<iZZv$ic!e6xnZVukTk'Z_^Zqp[]i
(331) eVui8W'ctw3Z\Vuk'\lb wW9ej]i\Z
(332) Wa :6c\cnwzY[_^Zw Zie6egUV`W W9ej]iv]qk'v k#Z]
(333) W'ciVui!y r3Zzw3bWge£w3chpnZHx[Zq}hctiv]biV|p ZkJW']_p[V^ZlrcndOy[c!p[Zqk'ih]oih\ZHegUh]le*V`W£k'Z
(334) WgegkTVu\lejZvegc ]EW'Vuiyt_^Z)Yk'Vui[\V~Y[]_ cnk*]EW'Vuiy[_^ZH_uc[\lbIW*cdO]lbegUhcnkTVe9} ®:µUV`W£V`W*U]k'vn_u}P]iPcnkTV ytVui[]_\cw>w ZieO«jHk']ivck´Vm= [ ±a!4*p[ZiVud6r3Z>]\\ZqY!eOegUh]le)WjU]qk#ZoUhct_uvZqk@W<]qk'ZVui8W'cwPZW#ZitW@ZEegUZ>ci_m}$k#Z]_&Yk'Vui[\oV Y]_&dgck)dgVukJw ]\legV|p[Veg}«T]A\o_^]Vw¹\ci
(335) ejZW9ejZv>V~i]Ew>ctwPZi
(336) eg±#=tc!rzihZqkJW1vc ic
(337) eµ\qcitWgeTVe`b!ejZA]3W'Vui!y[_^Zz_uct\abW£c[dO]lbegUhcnk'Veg} 2>W6V`W1]_`W'cihchecnkTV ytVui[]_nr3ZA\]iV^vZi
(338) ejVud9}P]lejcw>V`W9ejVu\=tV^ivVmp V^v
(339) b ]_c!rzihZqkJW1]
(340) W1dbihv]owPZi
(341) ej]_u_~}vVudTdTZk'Zi
(342) e \cwzY[]qk'Zv3ejc VuiW9ejVe`b!egVmcni[]_c!rzihZqkJW:µUV`WV`W6egUhZE\]hW#ZEdgck£]le*_mZ]!W9e&egU®k'ZZk'Z]
(343) W#cni[W!Y[cWJW'V|x_u}vnV^d9djZqk'Zi
(344) e egVuwPZUckTV citWaCvnVudTdjZqk'Zi
(345) e3]le^egVe`b vZ
(346) WzegckTVWT ]ihvvVdTdjZqk'Zie>\]Y[]\VeTVmZhWzeXc]lx W'ck9x.egUZegk']qi[W']\aeTVuci \cW9e'WP]
(347) W@W'c[\Vu]lejZvr>VegUW'U]qk#Zc!r>ihZqkJW'UVuY«TdgckPZn]w Y[_uZ.Mt\U_^ZVdjZqk ¯ RVXW'Ui!}n=¬¬°!±aO½beEegUhZ
(348) W'Z vV~dgdjZqk'Zi\Z
(349) Wci_~}.Uh]qp[Z$Z\cictw>V^\W'VuytiVudTV^\]i[\Z$V~d)egUhZq}.]k'ZVuiW9ejVe`begVuci]_V`W#ZvVgZ®µVud)egUhZvVudTdTZk'Zi
(350) e VuiW9ejVe`begVuci]_iZZvfW1]qk'Zk'Z\cnyiV`W'Zv:6cW#cnw3ZEZq!ejZi
(351) e&egUV^W£vVdgdjZqk'Zi
(352) e*VuiW9ejVe`b®egVucnih]_ihZZv V`W£]YY[]qk'Zi
(353) e@ GIckZln]wY[_^Z=EW'wP]__zW'U]k'ZUct_uvZkJWU]qpnZW'ZqY[]qk#]lejZ\c_u_^Z\lejVmpnZx[c[vnVmZhW\ctwY[]qk'ZvejcVuitWgeTVe`begVucnih]
(354) _ c!rzihZqkJWa½bex[Zq}hcivEegUV`W£W'U]qk#ZoUhct_uvZqk@W*]qk'Z{p[V^ZlrPZv]W*]EW'Vui!y[_Z_uc[\lbW*cdI\cniegkTc_` ²VejUVui.dgcnk'w>]_£Yk'Vui[\V|Y ]o_ ]qy[Zi
(355) e<egUZck9}egUhZqk'ZUh]pnZ»x[ZZoiD]le`ejZwzY!e'WegcVui
(356) egk'c[v
(357) b \ZwEb _eTV Yt_^Z$]qyZie'W «´W#ZZ={dgck>Zln]wY[_^Z51]odjdgcti
(358) e ¯ ,]qk9egVuw>ck9ej=z¬¬°!±a½FZqkjiUZVw ¯ ²UVuiW9ejci.«q¬t®!± Wgb[yy[Z
(359) W9eegUh]le ^\ctw>w>cti]y[Zoih\q } zwP]q}ªxnZW'VuytiV^d9V^\]i
(360) e@64*[]w>Yt_^Z
(361) Wcd \cnw>w>cti³]qy[Zi\q}·dT]_u_zVui
(362) ejc·cnihZcd3e`r3c \]lejZyckTVuZ!WAvZo_^Zqy[]aejZv§c!kVui
(363) egkTVuiW'V^\!)73Zo_mZqy]aejZv§\c!w w3cti§]qy[Zih\}s]qk'V`W'Z!Wr>UhZiW'ZqpnZqk']_>Y[]qk9egV^Z
(364) W p[c[_biej]qkTVu_~}>xnZhWgejchregUhZ)kTV|y[U
(365) eegc>w>]q [Z\Zqkgej]oVui>vZ\oV`W'V cni[W&b[Y[cni3]EW'V~i®yt_^Z«T\ctw>w>cti!±*]y[Zoie@
(366) -ji
(367) e`kjV~iW'V^\ °.
(368) \ cw>w>cti8]qy[Zih\}]qk'V`W'ZW)r>U[Zi8]i8V~i[vV|p[V^v
(369) b ]o_1VXW i]qe`b[k']_~_|} Zivc!r3Zvr>VegUegUhZ k´Vuy[U
(370) e£eXcw>] [Z] Y[]qk9egVm\lb_^]qk1vZ\V`W'Vucti]odgdjZ\lejV~i®yc!egUZqk*Y[]qk9egVmZhW#=nrUcw ]q}V~i>e`b[kTiP]le`ejZqwzY!eIegc VuidT_|b Zi\ZegU]leµvZ\VXW'Vmcni ½Fc
(371) egUY[cWJW'V|x[Vu_VejV^ZhW$Vui!p[c[_mpnZ.]ibwzx Zqk$cd>Yk'V~ih\V~Y[]_gW rzUhcsW'Vuwzb_ej]oihZc!bW'_~}³]oiihchb[i[\ZVui\Zi
(372) egV|p Z W'\UhZowPZ
(373) Wdgcnk$].\ctw>w>cti]qy[Zie@{-TiegUZYk'Z!W'Zih\Zcd \ct_u_mbW'Vmcti¼VuiW9ejVe`b®egVucni[]_Ak'ZwPZvnV^Z
(374) W$dgck egUZ k'Z
(375) Wgb_eTVui!y¸Vui[ZdTdTV^\VZih\}º]k'ZiZZvZv-Ti¸]vvVejVuctiegUZvnV`WgegkTV|x!bejVucni¸cdihZle$k'Zlr3]qk'vtWQ]ow3cti!y§egUZ Yk'Vui\VuY[]o_`WVXW#=£V~iDy[ZiZqk']_u=£Vui[vZlejZqk'w>Vui[]lejZ rzUhZoirPZ$U]qp[Z\cnw>w>ctiD]qy Zi\q} O:6UV`WzVui[vZlejZk´w>Vui[]\q} W9b[yy[ZW9e'WOegU]leµ]\le`b ]_ ]o_^_uc[\]lejVucnicndOk#Zqi
(376) e'W1vZqY ZivtW1cni[= ]ow3cni®yc!egUZqkOegUVui!yW'=Uc!r§egUZk'Z_^]legVuciW'UV~YW ]qk'Z)VuiWgeTVe`b®egVuci]_V`W@Zv ½beOegUZ>V~w>Y[ckXej]i\Z>cd£wzb_ejV|Y[_^Z3Yk'Vui[\VuY[]o_`Wy[c[Z
(377) Wx[Zq}hctiv egUZ>VuvtZiegV~djV\]leTVmcni$ctd1vV~dgdjZqk'Zi
(378) eCchriZkJWa -9er3]
(379) W>ZwzY[U]W'VXW@Zv.Z
(380) ]k´_uV^Zqk>VuiegUV`W Vui
(381) egk#ctv
(382) b \JegVuciegU[]lej=]qY[]qk`eAd`k'cw egUZWjY[Z\V]_F\]
(383) W@Zcdz]8W9ejZ]v} W9ej]JejZ=ckTy[]qiVW#]leTVmcnih]o_I tihchr3_uZv!y[ZV`WaWgb ZhW£x Z\ctw>Z>V~wPY[cnk`ej]qie*dgcnky[c!p[ZqkTih]i\Z!0>Zih\Z>]
(384) W<]zy[Zoi[Zk']
(385) _ k9b _uZ=y[chpnZqkTi]ih\ZV`WaW9b ZW)Uh]pnZEejcvZ]_r>VegU$_uc[\lbW<cd]lbegUc!kjVe9}»]iv_uc[\lbW<cd6 [ic!r>_uZv!y[ZwP]le`ejZakJWa kTy[]qiV`W']lejVuci]_$vZ\Ziegk']_~V`W#]leTVmcniºcnd tihchr>_mZv!y[Zªw]qi]qy ZwPZoie8VW]sWgej]qiv]qk#vsk'Z
(386) bV|k@ZwPZi
(387) e8dgck Zd9djZ\lejV|p[Z$\ctwzY ZlejZqih\Z$vtZqp[Z_ucY[w ZieAV~i]i!}
(388) ejUVui!yc!e`UhZqkHegUh]ip[ZqkT}W'wP]_u_)dgVuk´wWO:6UZ$k'Z]
(389) W#cni.dgck egUVWvZ\Ziegk']_~V`W#]leTVmcniDdgct_u_uchrWzd`k'cw M[Vw>c[i 9W«q¬![=E¬ ±Fchx W'Zqkgp ]legVuci]qxnchbeHvZ\qcwzY[cW']lx[V^_Vej} ]qihvwP]oih]qy[ZwPZoie>cd\ctwzY[_^Z ihchr3_Zv!y[Z!£:OccnkjVZi
(390) eAegUV~i® tVui®yr3Z8\
(391) ]iegUVui! ¨ctde`rcZl®egk'Zqw>Z Y[cWJW'V|x[V_uVejV^ZhWC²³UZi\ctwY[ZlejZqi\Z.vZpnZ_ucnY[wPZi
(392) ePV`W b[iVw>Y[ckXej]qiej=)yc!p[Zqkji]i\Zci_~}³U]!WejcvZ]_ r>VegU¶_uc[\lbIWctdD]lbegUhcnk'Veg}¶wP]le`ejZqkJW :OU!V`WV`W.egUZW9ej]qihv]qk'vYZkJWTY[Z\aeTV|p[Z§ci¶y[chpnZqk'i]i\Z!²VejU ]lbegUhcnkTVe`}$vZdTVui[Zv$]
(393) W<]qx[c!p[ZVgZ!egUZ>]lx[V_^Veg} ejcw>]ih]oy[Zzk'ZWTY[citW'ZW£ejc»b[i]qiegV^\oVuY[]lejZvZlpnZi
(394) e'Wa[-TdOr>Z \]qi$VuwP]oy[Vui[Zz]Hr3cnk'_uvVui r>UV^\U$Z ]i
(395) ejZ w>]i]y[ZowPZi
(396) e1cdO [ic!r>_uZv!y[ZzV`W£egUZzci_~}k'Z
(397) b Vuk'Zw Zie£dgck ckTy[]qiVW#]leTVmcnih]o_D]\aeTV|p[Veg} ]_mct\lbIWcd]lbegUhcnkTVe9}¶r3c
(398) b_uv x Z§b[iiZ\Z
(399) WaW#]qkT} ½beegUhZ ic!r>_uZv!yZ vZ\Ziegk']q_uV`W@]legVuci=A]oihvegUZ8k'Z!W9b _ejV~i®y·cnkTy[]iVXW#]lejVucnih]_HejZ]w ]\lejVmp[Ve9}h=zW9ejV~_^_Yk'c[v
(400) b \Z
(401) W\ctck'v!Vui]aeTVuci Yk'c!x[_uZwWa8:OUZ W#ct_bejVuci eXc egUZ
(402) W#Z \c[c!k'v!Vui]aeTVuci Yk'c!x[_uZwW§\]oiihche¨x[Z \Zqi
(403) egk']_uV`W'Zv xnZ\]lbIW'Z ic!r>_uZv!y[ZHwP]i]qy[ZwPZi
(404) e\]qiihchexnZ\Zqi
(405) egk#]q_uVXW@Zv!:OUZci_|}zk'Z]o_W'c[_beTVmcni>V`W&egcEp[V^ZlrscnkTy[]iVW@]legVuci]_ ]\legV|p[Veg}P]!W*] W9ej] [ZoUhct_uvZqk Hxn]qkTy[]VuitVuiy>Yk'c!x[_Zwº«´W'ZZ2Acn [Vu=O¬t ±a0>Zqk#Z{egUZckTy[]qiV`W']lejVuci]_ejZ]
(406) w \cck'v!Vui]lejVuci Yk'c!x[_uZw \]i x[Z p[V^Zqr>Zv ]W¶V~i!pnct_|pVuiy ]qy[Zie'WegU]aeº\qci
(407) egkjcn_³cnkTy[]iVXW#]lejVucnih]
(408) _ ic!r>_uZv!y[Zxn]qkTy[]VuitVuiy8c!p[ZqkegUZ]__mct\]aeTVucictdckTy[]qiV`W@]legVuci]_Ok@Zi
(409) e'Wa:OUZ>k'Z]_&r3cnk'_uv=Ocd<\chb[k@W'Z= r>Vu___^V^Zª«j]hWD]y ZiZqk']_Pk9b_^Zq±8x[Zle`r3ZZqi¼egU[ZW'Ze`r>c¸Zl®egk'Zw>Z!WaE-ji W'Uhcnk9eQ\cnkTYhc!k']JejZ³y[c!p[ZkTi]i\Z Vui!p[ct_|p Z
(410) WegUhZVui
(411) ejZqk']\leTVmcni8x[Zle`r3ZZqiD_uct\abWzc[d]lbegUhcnkTV|e`}D]ihv_uct\abWzc[d) ic!r>_uZv!yZ!I-TiZqp[Vej]qx[_~}egUV9W Vui!p[ct_|p Z
(412) WW'ctwPZ.vZqyk'ZZ.cndW9ej] [ZqUct_mvZqkw3]oi[]y[ZowPZi
(413) ePVud\ctwzY[ZlejVegVuciVXWxn]hW#Zvcni³\cnwY[ZlejZqi[\Z vZlpnZo_mcnY[wPZoie@6-TdegUVW>Y[Zqk@WTY[Z\lejV|p[Z8VXWP]\\ZqY!ejZv=6egUZp[V^Zlr cdzvVudTdjZqk'Zi
(414) eyc!p[Zqkji]i\ZWT} W9ejZwWP«T]
(415) W vVW@\lbWJW@Zv§]xnchpnZq±D\]i¼x[Zp[VZar>Zv¸]
(416) WDvVudTdTZk'Zi
(417) e\qUh]qk']\lejZk´V^W9ejVu\r>]q}WDcdVuiW9ejVe`begVuci]_^VXW'Vuiy¼egU[Z Vui
(418) ejZqk#]\lejVucniAx[Zle`r3ZZi>_uct\abW*cndI]lbegUhcnkjVe9}3]iv>_uct\abW*cndI ic!rz_^Zv!y[Z® .
(419) .
(420)
(421) . "!$#%'& (*) +-,.,/021435+76'(98;:2 ,<1=+?>'@&BAAC$+AC$#%&1=DEGF@+HA'B#%JI?1=#K1L( "+!1LF#M:#%21LC+-8N6*)O1L#%+P,/& 8 CB!=BC 7) Q1=+P!L#RC,SI'+T'BC='&07) @&078?CI6U( &V1=#%+UDNWXA?1Y+P+3<3.F&VTHZ) +-:# 8BC[8P#Y::L6*N:G1=+\8+?3X#K1LF I'+T'BC$7& ) D]!3.\F&BT'\&^:_1=[& 87`a:_1=&1=PA'BCO:$A'[)V1L#KT*2bc#%d35F#) Fe&\(%+')V6f:@+H!g&V61LF7+HC=#K1_`h#Y:g1LF\+(i` C (%BT'& 21j#M:O:_6*k!L+CjI'+7THBC$7&07) l1LF7m8H#M:_1=#%)V1=#%+n>HV1M35 oI'+7THBC& ) p& 8oCBI6*(&1$#%+q#_: :_1LCr&B#RI'FN1=!L+HC_35&BC8Z1L+\#%8 N1=#%!Y`sD7tQBI6*( &V1=#%+H\#%TH+-(RT*N:u1LF'Z(%BI'& (f& 8\+1LFBCv#%-:L1$#w1M61L#%+H7& (c:L1LC_6*)V1M67CQ1LF7&V1 #M:)[+-,.,.+-P1=+^& (%(G!$#RC,\:DU]!G3/?# ,P&I-#%'51LF7.+HAA'+U:#R1=5I'+T'C$& )[PBx1LC,.51LF7&V1u35&N:Q) +-:# 8BC 8 &V>H+7THy#iz3.F# )0F{+(i`{Bx. & 21=. |+3.(%[8I'y,P& 7&BIU ,/ N1Z1=&|'N:PA(9& )2 b}1LFa8H#:L1$#%7)V1$#9+H~>*V1M35 B. I'+T'BC$7& ) ^& 78CBI6*( &V1L#%+~) & e>') +HU:# 8BCr 8UD4]$aAC#%7)0#%A'( 1LF7;|'+3.(% 8I'\>'&:d!L+CX&0`+ #%'8H#RT*# 8N6*&0(f!$#RC,,/&B`\C N6*#%CZ#%A61:v!MC+-,j+ &B78. +C$I'&B#M: &V1L#9+H7&0(& )V1=+CO:vJDIDU:L6'AA-(%# BCO:rb8#M:_1LC$#R>J61=+HCO:rb. :_1=&1=o&BI'B) # N:DW/:#%I1LF7[&BC(i# BC(%+I-# )k1LFN:rn7+H. +C$I'&B#M:&V1=#%+& (& )V1=+CO:>'[) +H,/. :_1=&|'BF+-(98BCO:X& 8~&N:/:_6*) F~&BCr;A'&BCL1@+!}1LF\I'+T'BC& 7) ^) +'+C8#%'&V1L#%+yAC+>'(% ,DGEGF#Y:.#%TH+-(RT*N:.& ( & )B|{+H!X) ( &BC#K1_`&B>'+611LF8H#M:_1=#%)V1=#%+y>*V1M35 ByI'+T*BC$7& ) e& 8yCI6U( &V1=#%+UDc+HC.x'& ,.A-( bv#!.& :_1=&O1=.&BI'B7)[`h#Y:g+'!_!=BC#%I^|'+3.(% 8I'.+C:BC_T'# )2N:1=+& (i(G!=#RC,;:v1LF#M:)[&0\>'/) +-:# 8BC 8\A*&BC_1+!c1LF' CBI6*(%&V1=+CL`e:_1LC_6*)O1M6'C2DHv61#%!:_1=&V1=X&BI'B) # N:g+-!L!=BCv|'+73X(% 8I'.+C:rBC_T'# ) N:1=+\#%8#RTU# 8N6*& (G!_#%C,\:1LF C (%&V1=#%+-:F#%A\#M:u1LF7&V1+!G+C$I'&B#M: &V1=#%+& (4:_1=&|'0F7+-(%8BCDNQV1M3.[BZ1LF:1M3.+?1LF7"8#:L1$#%)1$#%+\#M:G6U7)0( 2&BC &B781LF#Y:.( & )|z+-!@) (&C#w1_`F&:.#,.A'+CY1=&B21X )+H7+H,.# )^#,.A-( # ) &V1=#%+H':D61:#%8^+-!@&:L1= & 8`z:_1=&V1=P1LF #%U:_1=#K1M61L#%+& (%b& 8e+71LF7BCbBNT'#%C+,/ N1v3Z#w1LF#i^3.F# ) Fe&\!_#%C,+A'BC&V1=N:@#:_A'+N1=BN1L#9&0( (i`7Z:_6'>O[)V1v1L+ :_1LCr&1=BI#9)?#%-!=(96* 7) DUj:_1=&B|' F+(%8'BCvC (%&V1=#%+-:F#%A^,P# IFN1>'.#,.A'+HCM1=&B21#%P1LF.,/&0'&I'0,/ N1+!c1LF#M: #%-!L(R6 7) D2]$\:F+CY1U1LF7BC,/&[`.>H":_1LC&V1=I#%)"&[87TH&021=&BI'N:#%Z1LF>'(96'C=C#%JIP+'!s1LF78H#M:L1$#%)1$#%+Z>'V1M35 I'+T'BC$7& ) & 8ZCI6U(%&1$#%+UD. U$. fO
(422) U O . EGFA'&BA*BCO:GACrN: N1= 8.#i@1LF#Y:g:$A' ) # & (U#M::_6*1=&B|'}6'A\8#%!_!=BC 21G&2:$A'2)V1:+!U1LF'I'07BC& (U#M::_6*:GCr&0#M: 8 &V>H+7TH bP& 8) +(%([)V1$#RTH0(%`j:_1LC2:O:^1LF ) +,ZA'( [x& 78¡,"6*(K1$# !=& ) V1= 8&N:=A' )V1:e+!I'+7THBC$'& ) & 8 CBI6*(%&V1=#%+?1LF7&V1CB78BCc1LF7"C !LBC 7) 1=+\&?:#%I'( b+HA21L#%,P& (G:1+H!:L1LC_6*)1M6'CrN:v&B78PAC+') 8N6'CN:+!1=B #%') +U:#Y:L1=BN1 D¢z#%) F (\I'(# V1M1=& 8VT' (%+AU:&{1=[&0,£1LF7 +HC$`¤+-!;1LF7¥!$#¦C,. 1LF&V1h8 !_#%':a) +C$A'+C&V1=. I'+T'BC$7& ) z&N:&z) +'+C8#%&V1=#%+§I'& ,Pz& 8¨1LF~)C_6) #%& (@C+-(%~+'!51LF7Q+-&BCr8¥+!Z©.#%C )V1=+C :&N:& #%N1=BICr&V1=+C+H!:_1=&B|'F+-(%8CO:ª#%21=BCN:L1:DEGFA'&BA'BCv:$F7+73/:G1LF&V11LF@) ++C8#%'&V1L#9+H.I'& ,/"F&:,@6U(K1=#%A-(. :_1=&>'(P:r+-(K61=#%+H':b4( & 8#%I;1=+8#9THBCO: .,.+-82:g+-!uI'+T' C$7& ) D*EcF'.+61=)B+,..+-!G1LFZI'& ,/?8'BA' 8U: +?1LF@A'+735BCv:_1MCL6*)V1M6C3Z#K1LF#%) +C$A'+C&O1L#%+U:b-3XF#) F#%?1M6'C$\#:v( #%|' 8?1=+?1LFZ8J+H,.#%'& N1A'&V1 1=BC$\#% 1LF~!L#i'& 7)0# & (.:$`U:_1= ,\Dv( & ) F§«'BIC2:_1=#i&078¥C,/& 8¨¬.&1=)BFN6s ("C& #M:1LF7&V1.1LF~) +NTHBC$I' )2. .
(423) 1L+35&BC8-:&Q6'# N6*Z,.+'8 (+-!) +C$A+C&O1=I'+T'C$& )[Q1=B78s:G1=+P( &BT'X&N:# 8Z) +-(%( )V1=#RT'@&N)1L#9T'#w1$# :&0'8 1LF #RCGT'& (R6*)BC[&V1$#9+HZACr+-) 2:O:2:D}+'+C8#%&V1=#%+b') &BA'&B>'#( #K1$# N:c8[TH (%+HA',/ N1&B8.#%+HTH&V1$#9+H.&C}1LF +,?#w1M1= 8;#%.1LFZACVT*& ( N1CBACrN:B21=&V1L#%+\+-!41LF7.) +HC=A'+HC&O1L#%+UD'EGFB`&BC$I6*1LF7&V1G1LFX) +H7) BA1+!41LF !$#RC,. :F7+76*(%8;>H?8#M:_1=#%I6U#M:F[8d!_Cr+-,#K1:Q) +C$A+C&O1=Z!L+HC,P:D@+-#%Id>H& )B|d1=+P1LF">'&:# )?'&1M6'C.+H!G1LF. !$#RC,/b1LF7[`:L6'II'N:_1/1LF&V1;&!L#RC,. #Y:&z) +-(%( )V1=#RT'z078 &BT'+6'C;3XF+U:z& )V1=#RT'#K1=#%:^&C¨8#RC[)V1= 8>'`. ,/& &BI' ,/ N141Y+\)BC &O1=V3A'+N1=B21L# &0(M:D ) #(
(424) 2& &1M6'C b->'+6'8&BC#%:&078PI'+7THBC& )2Z+!41LF'Z!_#%C,. «-#%N12:uCr 8H#M:r) +7T*CO:G1LF"(%#%|P>'V1M35 Z1LF. +HP1LF7>'&:#M:v+'!)0F7& I*N:v#%) +HC=A'+HC&O1="#%8N6:L1LC#%&N(. !$#RC,\:Dg«-F7&C$I6*:Z1LF&V1@1LF#:/& & (i`21=# ) & (#i21=BC) +2)V1L#9+H§:F7+76*(%8>*^CN:L1=+HCr 81L+6'78BCO:L1=&B8y1LF FN6*,/& y)[&BA-#w1=&0( #%N1= -:#RT*d!L#%C,\D«-F7d8BTH0(9+HA:X&,.6U(w1$# CN:+6'C) 2:ªv,.+-8 (+-!I'+T'C$& ') +H!v1LF !$#RC,£1LF&18BA'B8-:h+H. &B<+C$#RI'#%'& (?CrBACN:r021=&V1L#%++H!P1LF7¥:_1 C_6*)O1M6'C b@+HC$I'&#Y:r&V1L#%+<& 8. A'+35BC. C (%&V1=#%+-:F#%AU:@+-!g,.+'8BC$e!_#%C,\:b43ZF7+s:rTH& (96*\&C#M:rN:@!MC+-,1LF\&[) )V6*,56*( &V1L#%+e+-!:$A'[)0# !_# )\FN6*,/&N ) &BA'#K1=& (MD&[) N6*:. &V6'Cr021GtQ&VT'#Rx&BC$I6*N:1LF&V1&"Cr &BAAC& #:r&0(f+-!41LF7"&1M6'CZ+!41LFZ!_#¦C,. 1L+&B7&0(R`*: 5!=#RC,. I'+T*BC$7& ') DQ&N: 8\+\64:L1LC$#%& & '8?¢z&BCO:F7& ((# & \&AAC+-&[)BF'N:bFZ)[+HU:# 8BCO:1LF. !$#RC,. #M:v ) : :&BC$`. &:v&"ACr+-) 2:O:+C+H!GAC+'8N6*)O1L#%+H& 8P|'+3.(% 8I' b-3XF+U:"I'+T'C$'& ) Z#M:v#,.A'( ,/ N1= 8?1LFJC$+6'IF. 1LF@) ++A'BC&O1L#RT'Z& )1$#%+-:+-!:L1=&B|'BF7+-(%8BCO:#%T'+-(RT* 8P# P&X) +-(%( )V1=#9TH"( &BC#%IPAC+') N: :DN©5#9T*C$I' ) : 3.#K1LFa,.+'80(M:X+-!Q) +HC=A'+C&1=\I+T'C$& ') ;>H&N: 8a+H~:F&C F+-(%8C T*& (K6s;AC#%) #%A-( :X&BCP6U78BC(%#i'[8UD. C#:_1=#%& +"21=+H7 (i( #%bG# BC G&[+H(%+&1LCL6*) ) +&B78. 4Cr&B) :r) +6*&V1 C&BC=+l:=F+3. 1LF&V1z|7+73X(% 8I'. VxJ1=BC$& ( #K1$# N:58+1LC=#RII'BC.#%')BC &N:#%I~C1M6'C$-:@1LF&V1X&BC=^VxJ1=BC$7&0(1=+z & )BF~!L#%C,k+(R`y3.#w1$F#%z&;3/ ( ( 8 !_#%' 8e#%N1=BC$T'& (MDX+3.(% 8I'Bx1=BC=& (#K1=# N:X&BC\&PA'C+A'VCM1M`a+!}1LF^:$`U:L1= ,. #%N1=+h3XF# ) F!=#RC,;:X&BC . ,Z>' 88 8UDEGF^N6*& ( #K1_`+H!|'+3.(%[8I'dI'+7THBC& )2^,. ) F7&0#M: ,\:.#iaA-( &2) dA'(%&B`U:/&|'[`aC+'(%^# &N: ::O:#%I¨1LF7y&2)V1M6*& (":# 2a+-!"1LFy7V1.A'+U:#K1L#RT*y !L!$2)V1:+H!X|+3.(% 8I*yBx1=C$& (%#K1=#:rb( & 8#%I¨1L+ 8#i!L!=BC N1v!L+C$,\:g+!!_#%C,\:vI'+7THBC& )2D'"(R>*BCL1+H(%#%-|&B78T*&!P# N:_1=B\Cr0!=BC1L+P1MCr&B-:r& )V1=#%+H)[+s:L1: ) ++,.# )7:rb-&8.& 88C:O:f1LFN6*N:L1$#%+U:+!U3.FV1LF7BC6'C+HA'[&B. (% )V1LC#%) #K1L`.CI6U(%&1$#%+.F&:( 8"1L+"1LF AC+U:$A' )O1= 8e+61=)+H,.+-!gI'+7THBC$& ') P1LC&B':!L+HC,.&1$#%+-:1=+^1LF\,.&BC$|'V1&B8^3.F1LFBCX& 8F7+731LF7 &V1 1LC$#R>61=N:+H!41LC&U:& )V1=#%+-:g& 8&A1G1L+?1LFX&0(w1=BC 8\!L+HC,:v+!uI'+T'BC7&07) D'"P1LF7X>H&:#Y:+-!G1LF©@61=)BF (% )V1LC#%) #K1L`#i78N64:L1LC_`7b51LF7[`!L#i'8. 1LF&1\1LF¥,/&BC=|'V1^!=+C$,P:a+!dI'+T'BC7&07)2¥8#%8¡7+71hB,.C$I' b51LF7. &V1 1LC$#R>61=N:+!?1LFy1LC&B':& )1$#%+-:&BCrC ( &V1L#RT* (R`S:_1=&>'(M bZ&81LF7&V1\CrBI6'(%&V1=#%+ :[) +H78. &1,.+s:L1\F7&N:^(%[81=+. >*N:L1PI'+T'C$& )[¨:+-(K61=#%+-:D"v(%# 2&B>*V1LF<«A'B7) BC+61L(%#i'2:P1LF6:r~+-!/8H#M:) (%+U:_6'Cr#%¨1LF'. CBI6*(%&V1=#%+\+-!41LF7Z!MC& ')0F#M:r:r )V1=+C#%\64:L1LC&B(%# & b8 ,.+--:L1LC&V1L#%IP1LF7&V1#K18+-2:+1,. 1) +H78H#w1$#%+U: ) +-:# 8BC[8?2) 2::&BC$`/!L+HC !_!= )V1=#RT'"#%!L+C,P&1$#%+& ('C I6U(9&V1$#9+H*D]$)C &N:r 8P) +'+A'BC&O1L#%+H/& ,.+-JI\& 8 !M6U(%( BCGCBACrN: N1=&1L#%+H5+H!:_1=&B|'BF7+-(%8BC :b>'V1M1=BCG#¦!L+HC,\&1L#%+H.!MC+',8H#M:$A61=CrN:+(K61L#%+ZAC+') N: ::b'&B8 CBI'#:L1LC&V1L#%+^+!v8#M:) (%+:L6'C535+76'(98h# ,.AC+7TH51LF7P(%BT' (+!v#%!L+HC,.&V1=#%+^&B>H+761G1LF7;:[)V1=+HCvI'B7BC& (%(i`sD «F<:_6'C$T'B`U:+71LF7BCyCI6'(%&V1=+C_`<1=++H( :bP>61^6'C$I'2:1 F&V1^1LF7N:§1=++H( :y>'¡:r0( )1= 8S&N:aA'&BC_1a+!e& A'&BC_1L#9)0#%A'&V1=#RT'CI6U(%&1=+HC_`XAC+') N: :41LF&V1& ) )V6'C&O1= (R`ZCA-C2:B21:41LF#%N1=BC2:_1:+H!f& (%(:L1=&B|'BF+'(%8BCO:D. .
(425) XB$2 [ [ . t [> C#9+76xHb .D§
(426)
Documents relatifs
To test whether the vesicular pool of Atat1 promotes the acetyl- ation of -tubulin in MTs, we isolated subcellular fractions from newborn mouse cortices and then assessed
Néanmoins, la dualité des acides (Lewis et Bronsted) est un système dispendieux, dont le recyclage est une opération complexe et par conséquent difficilement applicable à
Cette mutation familiale du gène MME est une substitution d’une base guanine par une base adenine sur le chromosome 3q25.2, ce qui induit un remplacement d’un acide aminé cystéine
En ouvrant cette page avec Netscape composer, vous verrez que le cadre prévu pour accueillir le panoramique a une taille déterminée, choisie par les concepteurs des hyperpaysages
Chaque séance durera deux heures, mais dans la seconde, seule la première heure sera consacrée à l'expérimentation décrite ici ; durant la seconde, les élèves travailleront sur
A time-varying respiratory elastance model is developed with a negative elastic component (E demand ), to describe the driving pressure generated during a patient initiated
The aim of this study was to assess, in three experimental fields representative of the various topoclimatological zones of Luxembourg, the impact of timing of fungicide
Attention to a relation ontology [...] refocuses security discourses to better reflect and appreciate three forms of interconnection that are not sufficiently attended to