Test Por Tema

32/,&$1$&,21$/
(6&$/$%6,&$
6HYLOODGHHQHURGH
Servicios de Editorial MAD por internet

Te ofrecemos el complemento ideal a tu formacin
O N L I N E
EL AULA VIRTUAL DE EDITORIAL MAD
Cursos por internet

Tienes en tus manos un texto para prepararte, fruto de la experiencia de ms de 25 aos de
Editorial MAD en la preparacin de oposiciones. En l vas a encontrar los contenidos que
necesitas para prepararte las pruebas de seleccin.
Adems ahora te ofrecemos la posibilidad de contar con un apoyo extra para tu preparacin
a travs de e-duforma online, un sistema de tutorizacin para nuestros libros que est lleno de
ventajas:
Flexible: A travs de internet y sin horarios, de manera que puedes adaptar tus horarios
de estudio segn tus necesidades y desde tu propia casa.
O N L I N E
Personal: Con un Tutor personal que te guiar el estudio en funcin de tu evolucin y

capacidades.
Compromiso de preparacin: Con un sistema de evaluacin enfocado a resultados con
el que obtendrs un ndice de aciertos en el examen final entre un 80% y un 100%.
Con pruebas de evaluacin en tiempo real.
Total garanta de actualizacin mientras ests matriculado.
Con elementos que facilitarn tu aprendizaje: Biblioteca de legislacin, Foro de
discusin, Materiales adicionales, Glosario de trminos, Correo electrnico propio,
Consulta a tutores, Gua didctica, Tabln de noticias y Bases de datos de imgenes.
Economa: Con un precio muy inferior a otros sistemas de formacin presenciales.
Garanta: Con la garanta de Editorial MAD, empresa lder en la publicacin de textos
para oposiciones.
Si dispones de internet, e-duforma online es el apoyo

que esperabas para ayudarte en tu preparacin.
Consulta los cursos disponibles en:
www.eduformaonline.com
El camino hacia una formacin con xito
Solicita GRATIS informacin del curso que te interesa

eduformaonline@mad.es 902 111 163
Servicios de suscripcin gratuita

Informacin sobre oposiciones y sobre novedades editoriales en:
www.mad.es/suscripciones
Recuerda consultar nuestra web:
www.mad.es
32/,&$1$&,21$/
(6&$/$%6,&$
7(67
$8725(6
$1721,252'5*8(=<(5*2
,QJHQLHUR7pFQLFR,QGXVWULDO
,QVSHFWRU-HIHGHO&XHUSR1DFLRQDOGH3ROLFtD
3('529(/$48(6$'$
/LFHQFLDGRHQ'HUHFKR
,QVSHFWRU-HIHGHO&XHUSR1DFLRQDOGH3ROLFtD
(GLWRULDO0DG6/
/RVDXWRUHV
2FWDYDHGLFLyQHQHUR
'HUHFKRVGHHGLFLyQUHVHUYDGRVDIDYRUGH(',725,$/0$'6/
3URKLELGDODUHSURGXFFLyQWRWDORSDUFLDOVLQSHUPLVRHVFULWRGHOHGLWRU
,035(62(1(63$f$
'LVHxR3RUWDGD(',725,$/0$'6/
(GLWD(',725,$/0$'6/
3(0HUNDF0HUND&XDWUR$OFDOiGH*XDGDtUD6HYLOOD
7HOI
:(%ZZZPDGHV
,6%169
35(6(17$&,1
(VWD HV OD 1XHYD (GLFLyQ GHO /LEUR GH 7HVW GHO 7HPDULR GH GHVDUUROOR GHO
3URJUDPD2ILFLDOHVWDEOHFLGRSDUDODVSUXHEDVVHOHFWLYDVGHDFFHVRDOD(VFDOD%iVLFDGH
3ROLFtD1DFLRQDO
&RQWLHQHFRPSOHWRVFXHVWLRQDULRVGHSUHJXQWDVWLSRWHVWSDUDWRGRVORVWHPDVGHODV
PDWHULDVGHO3URJUDPD2ILFLDO&LHQFLDV-XUtGLFDVWHVWD&LHQFLDV6RFLDOHVWHVW
D \ 0DWHULDV 7pFQLFR&LHQWtILFDV WHVW D UHGDFWDGRV FRQ SURIXQGLGDG \
ULJRUVLJXLHQGRFRQH[DFWLWXG\H[KDXVWLYLGDGHO3URJUDPD2ILFLDODPSOLDGRVFRQSUHJXQWDV
QXHYDVVREUHWRGDVODVPDWHULDV\FRPSOHWDPHQWHDFWXDOL]DGRVPHGLDQWHODLQFRUSRUDFLyQ
GHWRGDVODVQRYHGDGHVOHJLVODWLYDVSHUWLQHQWHV
6HWUDWDGHXQDKHUUDPLHQWDGLGiFWLFDGHJUDQLQWHUpVSDUDXQDSUHSDUDFLyQH[KDXVWLYD
\DTXHFRQWLHQHSUHJXQWDVWLSRWHVWVLPLODUHVDODVRILFLDOHVGHIRUPDTXHHORSRVLWRUSXHGD
UHSDVDUVLVWHPDWL]DU\DXWRHYDOXDUVXVSURSLRVFRQRFLPLHQWRVGHWHFWDUODJXQDVRHUURUHV
HQODDVLPLODFLyQGHODVPDWHULDV\HQIRFDUVXHVWXGLRDOWLSRGHSUXHEDVTXHWHQGUiTXH
DIURQWDU
3RURWUDSDUWHDOILQDOGHOLEURVHLQFOX\HQGLYLGLGRVHQGRVSDUWHVORV6LPXODFURV
GH([DPHQFRQODVSUHJXQWDVGHO%ORTXH,\GHORV%ORTXHV,,\,,,UHVSHFWLYDPHQWHGH
ODVSUXHEDVVHOHFWLYDVUHDOL]DGDVHQ\TXHSUHWHQGHVHUXQDUHFRQVWUXFFLyQ
R UpSOLFD GHO H[DPHQ SURSXHVWR HQ HVWDV ~OWLPDV FRQYRFDWRULDV D SDUWLU GHO WHVWLPRQLR
GH QXHVWURV DOXPQRV SDUWLFLSDQWHV GH ODV SUXHEDV VHOHFWLYDV 6REUH HVWRV VLPXODFURV HV
QHFHVDULRKDFHUODVVLJXLHQWHVFRQVLGHUDFLRQHV
(O WH[WR GH FDGD SUHJXQWD QR VLHPSUH VH DWLHQH OLWHUDOPHQWH DO SURSXHVWR HQ OD
FRQYRFDWRULD DXQTXH Vt VH PDQWLHQH HQ JHQHUDO HO VHQWLGR GH OR SUHJXQWDGR SHUR HV
SRVLEOHTXHDOJXQDGHHOODVODVPHQRVQRHVWpQIRUPXODGDVH[DFWDPHQWHFRQHOPLVPR
VHQWLGRGHOH[DPHQRULJLQDO
3RU OR WDQWR ODV UHVSXHVWDV TXH VH IDFLOLWDQ FRPR FRUUHFWDV OR VRQ HQ UHODFLyQ
FRQ ODV UHVSHFWLYDV SUHJXQWDV DTXt H[SXHVWDV DXQTXH HV SRVLEOH TXH GLILHUDQ GH ODV
FRQVLGHUDGDVFRPRYiOLGDVSRUHO7ULEXQDOH[DPLQDGRUVLHOVHQWLGRGHODSUHJXQWDQRVH
FRUUHVSRQGHFRQODUHDOPHQWHIRUPXODGDHQODFRQYRFDWRULD
$GHPiVGHORVGRVYRO~PHQHVGHGHVDUUROORWHyULFRGHO3URJUDPD2ILFLDOHVWDEOHFLGR
(GLWRULDO 0$' RIUHFH DVLPLVPR RWUDV YDOLRVDV KHUUDPLHQWDV SDUD OD SUHSDUDFLyQ GH ODV
SUXHEDVRILFLDOHV
/ RV GRV YRO~PHQHV GH 6LPXODFURV GH ([DPHQ FRQ FXHVWLRQDULRV GH
SUHJXQWDVWLSRWHVWFDGDXQRGHHOORVUHGDFWDGRVDLPLWDFLyQGHORVH[iPHQHVTXH
OD$GPLQLVWUDFLyQSURSRQHFRQWUHVRSFLRQHVSRVLEOHVSDUDTXHHORSRVLWRUSXHGD
IDPLOLDUL]DUVH\KDELWXDUVHDODGLQiPLFDSURSLDGHHVWHSURFHVRVHOHFWLYR
(
O &XHVWLRQDULR 3VLFRWpFQLFR SDUD &XHUSRV GH 6HJXULGDG TXH FRQWLHQH PiV GH
SUHJXQWDV GLULJLGDV D HYDOXDU ODV DSWLWXGHV H[LJLGDV HQ ODV SUXHEDV GH
VHOHFFLyQSDUDORVGLIHUHQWHV&XHUSRVGH6HJXULGDG
1',&(
7(67
$&LHQFLDV-XUtGLFDV
7HVWQ(OGHUHFKRFRQFHSWR\DFHSFLRQHV/DVQRUPDVMXUtGLFDVSRVLWLYDVFRQ
FHSWR HVWUXFWXUD FODVHV \ FDUDFWHUHV (O SULQFLSLR GH MHUDUTXtD QRUPDWLYD /D SHUVRQD HQ
VHQWLGRMXUtGLFRFRQFHSWR\FODVHVVXQDFLPLHQWR\H[WLQFLyQFDSDFLGDGMXUtGLFD\FDSDFLGDG
GHREUDU$GTXLVLFLyQFRQVHUYDFLyQ\SpUGLGDGHODQDFLRQDOLGDGHVSDxROD(OGRPLFLOLR/D
YHFLQGDGFLYLO

7HVWQ&RQVWLWXFLyQ(VSDxROD,HVWUXFWXUD\FDUDFWHUHVGHOD&RQVWLWXFLyQHV
SDxRODGH/RVYDORUHVGHOD&RQVWLWXFLyQ/RVSULQFLSLRVGHOUpJLPHQFRQVWLWXFLRQDO
(VWDGRGHPRFUiWLFR(VWDGRGHGHUHFKR(VWDGRVRFLDO0RQDUTXtDSDUODPHQWDULD\(VWDGR
DXWRQRPLVWD /RV GHUHFKRV \ GHEHUHV IXQGDPHQWDOHV HVWDEOHFLGRV HQ OD &RQVWLWXFLyQ
HVSHFLDO UHIHUHQFLD D ORV GHUHFKRV IXQGDPHQWDOHV \ OLEHUWDGHV S~EOLFDV DVt FRPR D ODV
JDUDQWtDVGHORVPLVPRV\DODVXVSHQVLyQGHORVGHUHFKRV\OLEHUWDGHV(O'HIHQVRUGHO
3XHEOR

7HVWQ/D&RQVWLWXFLyQ(VSDxROD,,GHOD&RURQD'HODV&RUWHV*HQHUDOHV'HO
*RELHUQR\OD$GPLQLVWUDFLyQ'HODVUHODFLRQHVHQWUHHO*RELHUQR\OD&RUWHVJHQHUDOHV'HO
3RGHU MXGLFLDO 'H OD RUJDQL]DFLyQ WHUULWRULDO GHO (VWDGR 'HO 7ULEXQDO &RQVWLWXFLRQDO 'H OD
UHIRUPDFRQVWLWXFLRQDO

7HVWQ/D8QLyQ(XURSHDUHIHUHQFLDKLVWyULFD(OGHUHFKRGHULYDGR,QVWLWXFLRQHV
PiVLPSRUWDQWHVGHOD8QLyQ(XURSHD/D&RRSHUDFLyQ3ROLFLDO,QWHUQDFLRQDO

7HVWQ/DRUJDQL]DFLyQ\IXQFLRQDPLHQWRGHOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR
SULQFLSLRVGHRUJDQL]DFLyQIXQFLRQDPLHQWR\UHODFLRQHVFRQORVFLXGDGDQRVyUJDQRVVXSH
ULRUHV\yUJDQRVGLUHFWLYRVHQODRUJDQL]DFLyQFHQWUDO(O*RELHUQRFRPSRVLFLyQRUJDQL]DFLyQ
\IXQFLRQHVHO*RELHUQRHQIXQFLRQHV

7HVWQ/RVIXQFLRQDULRVS~EOLFRVFRQFHSWR\FODVHV$GTXLVLFLyQ\SpUGLGDGHOD
FRQGLFLyQGHIXQFLRQDULR

7HVWQ(O0LQLVWHULRGHO,QWHULRUHVWUXFWXUDRUJiQLFDEiVLFD/D6HFUHWDUtDGH(VWD
GRGH6HJXULGDGHVWUXFWXUD\IXQFLRQHV

7HVWQ/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO\HO0DQGRQLFR
HVWUXFWXUDRUJiQLFD\IXQFLRQHVGHORVVHUYLFLRVFHQWUDOHV\SHULIpULFRVGHO&XHUSR1DFLRQDOGH
3ROLFtD(O&XHUSR1DFLRQDOGH3ROLFtDIXQFLRQHVHVFDODV\FDWHJRUtDVVLVWHPDVGHDFFHVR
UpJLPHQGLVFLSOLQDULRVLWXDFLRQHVDGPLQLVWUDWLYDV

7HVWQ/D/H\2UJiQLFDGHGHPDU]RGHORV&XHUSRV\)XHU]DVGHVH
JXULGDG'LVSRVLFLRQHVJHQHUDOHVSULQFLSLRVEiVLFRVGHDFWXDFLyQGLVSRVLFLRQHVHVWDWXWDULDV
FRPXQHV'HODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGRORVGHUHFKRVGHUHSUHVHQWDFLyQ
FROHFWLYDHO&RQVHMRGH3ROLFtDRUJDQL]DFLyQGHODVXQLGDGHVGH3ROLFtD-XGLFLDOGHODV3ROL
FtDVGHODV&RPXQLGDGHV$XWyQRPDVGHODFRODERUDFLyQ\FRRUGLQDFLyQHQWUHHO(VWDGR\ODV
&RPXQLGDGHV$XWyQRPDV3ROLFtDV/RFDOHV

7HVWQ'HUHFKR3HQDOFRQFHSWR3ULQFLSLRVLQIRUPDGRUHVGHOGHUHFKRSHQDO
/DLQIUDFFLyQSHQDOHOGHOLWR\ODIDOWD&RQFHSWRPDWHULDOGHGHOLWR*UDGRVGHHMHFXFLyQ
GHOGHOLWR3HUVRQDVFULPLQDOPHQWHUHVSRQVDEOHVGHORVGHOLWRV\IDOWDV/DVFRQVHFXHQFLDV
MXUtGLFDVGHODLQIUDFFLyQSHQDO9LJHQFLDWHPSRUDO\HVSDFLDOGHODOH\SHQDO/DHGDGSHQDO
\VXVHIHFWRV

7HVWQ1RFLyQGH'HUHFKR3URFHVDO3HQDO&RQFHSWRGHMXULVGLFFLyQ\GHFRPSH
WHQFLD/RVyUJDQRVGHODMXULVGLFFLyQSHQDO&RQFHSWRGHGHQXQFLD\ODREOLJDFLyQGHGHQXQ
FLDU/DGHWHQFLyQFRQFHSWR\GXUDFLyQ/DREOLJDFLyQGHGHWHQHU/RVGHUHFKRVGHOGHWHQLGR
(OSURFHGLPLHQWRGH+iEHDV&RUSXV(O0LQLVWHULR)LVFDOIXQFLRQHV

7HVWQ0HGLGDVGHSURWHFFLyQLQWHJUDOFRQWUDODYLROHQFLDGHJpQHUR3ULQFLSLRV
UHFWRUHV3UHYHQFLyQ\GHWHFFLyQ'HUHFKRVGHODVPXMHUHVYtFWLPDVGHYLROHQFLDGHJpQHUR
7XWHODLQVWLWXFLRQDOHVSHFLDOUHIHUHQFLDDODVXQLGDGHVHVSHFLDOL]DGDVHQODSUHYHQFLyQHQODV
)XHU]DV\&XHUSRVGH6HJXULGDG0DUFRQRUPDWLYR\DFWXDFLRQHVHQFDPLQDGDVDIDYRUHFHUOD
LJXDOGDGHQWUHKRPEUHV\PXMHUHV$WHQFLyQDSHUVRQDV'HSHQGLHQWHV

%&LHQFLDV6RFLDOHV
7HVWQ'HUHFKRV+XPDQRV'HFODUDFLyQ8QLYHUVDOGH'HUHFKRV+XPDQRV&RQ
YHQLR (XURSHR SDUD OD 3URWHFFLyQ GH ORV 'HUHFKRV +XPDQRV \ /LEHUWDGHV )XQGDPHQWDOHV
3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD

7HVWQ*OREDOL]DFLyQ\DQWLJOREDOL]DFLyQ&RQFHSWRV\FDUDFWHUtVWLFDV&RQVHFXHQ
FLDVGHODJOREDOL]DFLyQ5HDFFLRQHVDODJOREDOL]DFLyQ

7HVW Q 6RFLDOL]DFLyQ WUDQVPLVLyQ GH YDORUHV HQ OD VRFLHGDG DFWXDO /LEHUWDG
UHVSRQVDELOLGDG ,JXDOGDGVROLGDULGDG 7ROHUDQFLD &RQWUDYDORUHV UHDFFLRQHV VRFLDOHV D ORV
YDORUHVPD\RULWDULRVUDFLVPRIDQDWLVPRIXQGDPHQWDOLVPRVHFWDULVPRKRROLJDQLVPR

7HVW Q $FWLWXGHV \ YDORUHV VRFLDOHV /DV DFWLWXGHV FRQFHSWR FRPSRQHQWHV \
IXQFLRQHV(VWHUHRWLSRVSUHMXLFLRV\GLVFULPLQDFLyQ$FWLWXGHVGHODSHUVRQDOLGDGDXWRULWDULD
[HQRIRELD\GRJPDWLVPR/RVJUXSRVVRFLDOHV(OFRQIOLFWRHQWUHJUXSRV

7HVWQ,QPLJUDFLyQ0RYLPLHQWRVPLJUDWRULRVFRQFHSWR\FDXVDVGHODVPLJUDFLR
QHV7LSRV\HIHFWRV/DVJUDQGHVPLJUDFLRQHVDWUDYpVGHODKLVWRULD/DVPLJUDFLRQHVHQOD
DFWXDOLGDG3UREOHPiWLFDGHODLQWHJUDFLyQ

7HVWQ/DFLXGDGFRPRIXQGDPHQWRGHOFDPELRVRFLDO3REODFLyQ\JUXSRVVR
FLDOHV6HFWRUHVGHODSREODFLyQPDUJLQDO(OIHQyPHQRGHODXUEDQL]DFLyQ/DVRFLHGDGGH
PDVDV(OKRPEUH\HOHTXLOLEULRHFROyJLFR/DFRQWDPLQDFLyQ\ODSURWHFFLyQGHOPHGLRDP
ELHQWH

7HVW Q /D VHJXULGDG &RQFHSWR 6HJXULGDG LQGLYLGXDO \ VHJXULGDG FROHFWLYD /D
LQVHJXULGDG3ROtWLFDVGHVHJXULGDG,QDGDSWDFLyQPDUJLQDOLGDGGHOLQFXHQFLDFRQFHSWRPR
GHORVH[SOLFDWLYRV\FODVHVGHGHOLQFXHQFLD

7HVWQ'URJRGHSHQGHQFLDV&RQFHSWRVGHGURJDFRQVXPLGRUPpWRGRVGHDGPL
QLVWUDFLyQDGLFFLyQGHSHQGHQFLDWROHUDQFLDSROLWR[LFRPDQtDV&ODVLILFDFLyQGHODVGURJDV

&0DWHULDV7pFQLFR&LHQWtILFDV
7HVWQ/DHOHFWUyQLFD&RQFHSWRGHFRPSRQHQWHVHOHFWUyQLFRV7UDQVPLVLRQHVODV
RQGDVHOHFWURPDJQpWLFDV0RGXODFLyQ\WUDQVPLVLyQ0HGLRVGHWUDQVPLVLyQ8WLOL]DFLyQEiVLFD
GHXQVLVWHPDGHFRPXQLFDFLRQHV7UDQVPLVLRQHVGLJLWDOHV\WUDQVPLVLRQHVDQDOyJLFDV

7HVWQ3DUWHV\IXQFLRQHVEiVLFDVGHXQRUGHQDGRU6LVWHPD2SHUDWLYR:LQGRZV
'HILQLFLyQ\IXQFLRQDPLHQWREiVLFRLFRQRV\REMHWRVJHVWLyQGHXQLGDGHVGHGLVFRRUJDQL]D
FLyQGHORVGDWRVHQGLVFRVSDUWHV\IXQFLRQDPLHQWRGHOHVFULWRULRHOH[SORUDGRUGH:LQGRZV
ODSDSHOHUDGHUHFLFODMHHOSDQHOGHFRQWURODFFHVRULRV

7HVW Q 3URFHVDGRUGHWH[WRV0LFURVRIW:RUGHOHPHQWRVEiVLFRVHOD\XGDQWH

RSHUDFLRQHVEiVLFDVIRUPDWRGHFDUiFWHUSiUUDIR\SiJLQDFRUUHFFLyQGHXQWH[WRLPSUH
VLyQFROXPQDVWDEXODFLRQHVWDEODVJUiILFRV

7HVWQ,QWURGXFFLyQDODVUHGHVLQIRUPiWLFDV\WLSRV,QWHUQHWH,QWUDQHW(OQDYH
JDGRU,QWHUQHW([SORUHUFRQRFLPLHQWREiVLFR

7HVWQ2ULJHQGHODVDUPDVGHIXHJR$UPDVGHDQWHFDUJD\GHUHWURFDUJD&OD
VLILFDFLyQ\GHILQLFLyQGHODVDUPDVGHIXHJR&DUWXFKRPHWiOLFR\VHPLPHWiOLFRGHILQLFLyQ\
FRPSRQHQWHV$UPDVSURKLELGDV'RFXPHQWDFLyQTXHDPSDUDODWHQHQFLD\SRUWHGHDUPDV

6838(672635&7,&26
7HVWGHH[DPHQQRYLHPEUHSDUWH,

7HVWGHH[DPHQQRYLHPEUHSDUWH,,

7HVWGHH[DPHQSDUWH,

7HVWGHH[DPHQSDUWH,,

7HVW
GHO7HPDULR
$&LHQFLDV-XUtGLFDV
7(671
(/'(5(&+2&21&(372<$&(3&,21(6/$61250$6-85',&$6
326,7,9$6&21&(372(6758&785$&/$6(6<&$5$&7(5(6
(/35,1&,3,2'(-(5$548$1250$7,9$/$3(5621$
(16(17,'2-85',&2&21&(372<&/$6(6681$&,0,(172
<(;7,1&,1&$3$&,'$'-85',&$<&$3$&,'$''(2%5$5
$'48,6,&,1&216(59$&,1<3e5','$'(/$1$&,21$/,'$'
(63$f2/$(/'20,&,/,2/$9(&,1'$'&,9,/
&XiOGHHQWUHORVVLJXLHQWHVHVUHTXLVLWRSDUDODUHFXSHUDFLyQGHODQDFLR
QDOLGDGHVSDxROD"
D6HUUHVLGHQWHOHJDOHQ(VSDxDGXUDQWHORVWUHVDxRVDQWHULRUHVDODSHWLFLyQ
E5HQXQFLDUDODDQWHULRUQDFLRQDOLGDG
F,QVFULELUODUHFXSHUDFLyQHQHO5HJLVWUR&LYLO
4XpWLSRGHOH\HVQRSXHGHQVHUDSUREDGDVHQ&RPLVLyQ"
D7RGDVODVOH\HVSXHGHQDSUREDUVHHQ&RPLVLyQ
E/DUHIRUPDFRQVWLWXFLRQDOODVFXHVWLRQHVLQWHUQDFLRQDOHVODVOH\HVRUJiQLFDV\GH
EDVHV\ORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
F7RGDVODVOH\HVSXHGHQDSUREDUVHHQ&RPLVLyQH[FHSWRODVRUJiQLFDVTXHQHFHVLWD
PD\RUtDDEVROXWDGHO3OHQR
6HJ~QHODUWtFXORGHO&yGLJRFLYLOFyPRVHGHURJDQODVOH\HV"
D6yORSRURWUDVSRVWHULRUHV
E3RURWUDVVXSHULRUHV
F3RURWUDVLJXDOHVRVXSHULRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HxDOHODUHVSXHVWDFRUUHFWDUHVSHFWRDODYHFLQGDGFLYLO
D(OPDWULPRQLRQRDOWHUDODYHFLQGDGFLYLO
E/DYHFLQGDGFLYLOVHDGTXLHUHSRUUHVLGHQFLDFRQWLQXDGDGXUDQWHXQDxRVLHPSUHTXH
HOLQWHUHVDGRPDQLILHVWHVHUHVDVXYROXQWDG
F/DYHFLQGDGFLYLOVHDGTXLHUHSRUUHVLGHQFLDFRQWLQXDGDGHVLHWHDxRVVLQGHFODUDFLyQ
HQFRQWUDULRHQHVWHSOD]R
(OGRPLFLOLRGHORVGLSORPiWLFRVUHVLGHQWHVHQHOH[WUDQMHURSRUUD]yQGHVX
FDUJRTXHJRFHQGHOGHUHFKRGHH[WUDWHUULWRULDOLGDGVHUiHO~OWLPRTXHKXELHUHQ
WHQLGRHQWHUULWRULRHVSDxROTXpQRPEUHUHFLEHHVWHGRPLFLOLR"
D5HDORYROXQWDULR
E/HJDORQHFHVDULR
F(OHFWLYRRHVSHFLDO
6LHQGR OD FDSDFLGDG GH REUDU R GH HMHUFLFLR OD SRVLELOLGDG TXH WLHQH XQD
SHUVRQDGHDFWXDUMXUtGLFDPHQWHSRUVtPLVPRVHxDOHHQWUHODVVLJXLHQWHVODTXH
FRQVLGHUHOLPLWDFLyQGHGLFKDFDSDFLGDG
D/DLQFDSDFLWDFLyQ
E/DSURGLJDOLGDG
F$PEDVUHVSXHVWDVVRQFLHUWDV
&XiQGRVHFRQFHGHODQDFLRQDOLGDGHVSDxRODSRUFDUWDGHQDWXUDOH]D"
D&XiQGRHQHOLQWHUHVDGRFRQFXUUHQFLUFXQVWDQFLDVH[FHSFLRQDOHV
E3HUWHQHFHFRQFHGHUODDO5H\HQEDVHDVXGHUHFKRFRQVWLWXFLRQDOGHJUDFLD
F7LHQHTXHGDUVXFRQVHQWLPLHQWRHO0LQLVWHULRGHO,QWHULRU
(OFLXGDGDQRHVSDxROTXHKD\DSHUGLGRVXQDFLRQDOLGDGFyPRSXHGHUHFX
SHUDUOD"
D5HVLGLHQGROHJDOPHQWHHQ(VSDxDGHFODUDQGRDQWHHO(QFDUJDGRGHO5HJLVWUR&LYLOVX
YROXQWDGGHUHFXSHUDUODHLQVFULELHQGRODUHFXSHUDFLyQHQHO5HJLVWUR&LYLO
E,QIRUPDQGRHOGHVHRH[SUHVRGHUHFXSHUDUOD
F'HFODUDQGRDQWHHOHQFDUJDGRGHO5HJLVWUR&LYLOVXYROXQWDGGHUHFXSHUDUOD
$OGHFLUTXHHVXQDQRUPDQRHVFULWDSHURDFHSWDGDJHQHUDOPHQWHSRUVXXVR
VRFLDOVHWUDWDGH
D8QD/H\
E8QD&RVWXPEUH
F8Q3ULQFLSLR*HQHUDOGHO'HUHFKR
$ORVFXiQWRVGtDVGHVXFRPSOHWDSXEOLFDFLyQHQHO%ROHWtQ2ILFLDOGHO(V
WDGRHQWUDUiQHQYLJRUODVOH\HVGHQRGLVSRQHUVHRWUDFRVDHQODVPLVPDV"
D$OGtDVLJXLHQWH
E$ORVYHLQWHGtDV
F$ORVTXLQFHGtDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpFODVHGH'HUHFKRWLHQHFRPRFDUDFWHUtVWLFDVHUXQLYHUVDO"
D(O'HUHFKRSULYDGR
E(O'HUHFKRQDWXUDO
F(O'HUHFKRODERUDO
&XiO HV HO RUGHQ FRUUHFWR GH ODV VLJXLHQWHV QRUPDV GH PD\RU D PHQRU
UDQJR"
DUGHQHVGHODV&RPLVLRQHV'HOHJDGDVGHO*RELHUQRUGHQHV0LQLVWHULDOHV\'LVSR
VLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHV
EUGHQHV0LQLVWHULDOHV'LVSRVLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHV\UGHQHV
GHODV&RPLVLRQHV'HOHJDGDVGHO*RELHUQR
F'LVSRVLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHVUGHQHVGHODV&RPLVLRQHV'HOH
JDGDVGHO*RELHUQR\UGHQHV0LQLVWHULDOHV
6HJ~QOD&RQVWLWXFLyQ(VSDxRODHVXQSULQFLSLRUHFWRUGHODSROtWLFDVRFLDO
\HFRQyPLFD
D/DVDOYDJXDUGLDGHORVGHUHFKRVHFRQyPLFRV\VRFLDOHVGHORVWUDEDMDGRUHVHVSDxR
OHVHQHOH[WUDQMHUR
E/DOLEHUWDGGHHPSUHVDHQHOPDUFRGHXQDHFRQRPtDGHPHUFDGR
F/DOLEHUWDGGHHQVHxDQ]D
(OYtQFXORTXHXQHDFDGDSHUVRQDFRQXQ(VWDGRGHWHUPLQDGRVHGHQRPLQD
D'RPLFLOLR
E5HVLGHQFLD
F1DFLRQDOLGDG
/DFDSDFLGDGGHREUDUWLHQHWUHVPDQLIHVWDFLRQHVVHxDOHODTXHVHHQWLHQ
GHSRUSRGHUDFWXDUYiOLGDPHQWHHQMXLFLR
D1HJRFLDO
E3URFHVDO
F3HQDO
6HSXHGHH[LPLUDXQDSHUVRQDGHOUHTXLVLWRGHSRVHHUODQDFLRQDOLGDGHV
SDxRODSDUDTXHSRUUD]RQHVGHLQWHUpVJHQHUDOHQWUHHQOD$GPLQLVWUDFLyQFRPR
IXQFLRQDULR"
D1RHVREOLJDWRULRVHUHVSDxROSDUDHQWUDUDOVHUYLFLRGHOD$GPLQLVWUDFLyQ
E6yORSRUXQDOH\GHODV&RUWHV*HQHUDOHVRGHODV$VDPEOHDV/HJLVODWLYDVGHODV&R
PXQLGDGHV$XWyQRPDV
F(QQLQJ~QFDVR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3DUDORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDFXiOHVODQRUPDGH
PD\RUUDQJR"
D5HDO'HFUHWR
E2UGHQ0LQLVWHULDO
F5HVROXFLyQGHO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
/DKLMDGHO&yQVXOQDFLGDHQOD(PEDMDGD(VSDxRODHQ0RVF~TXpQDFLR
QDOLGDGWLHQH"
D3XHGHWHQHUODHVSDxRODSRUHOGHUHFKRGHRSFLyQ
E6HUiHVSDxRODSRUFDUWDGHQDWXUDOH]D
F(VHVSDxRODSRUILOLDFLyQ
/DQDFLRQDOLGDGSRUFDUWDGHQDWXUDOH]DVHFRQFHGHPHGLDQWH
D/H\2UJiQLFD
E5HDO'HFUHWR
F5HVROXFLyQGHO0LQLVWHULRGHO,QWHULRU
4XpFLUFXQVWDQFLDGHWHUPLQDODVXMHFLyQDOXVRGHORV'HUHFKRV)RUDOHV"
D/DYHFLQGDGFLYLO
E(OGRPLFLOLR
F/DUHVLGHQFLD
'H HQWUH ODV VDQFLRQHV TXH UHFRJH HO DUWtFXOR GH OD /H\ GH 6HJXULGDG
&LXGDGDQDILJXUDQ
D5HWLUDGDGHODVDUPDV\GHODVOLFHQFLDVRSHUPLVRVFRUUHVSRQGLHQWHVDODVPLVPDV
E,QFDXWDFLyQGHORVLQVWUXPHQWRVRHIHFWRVXWLOL]DGRVSDUDODFRPLVLyQGHODVLQIUDF
FLRQHV
F7RGRORH[SXHVWRHVFLHUWR
6LXQFLXGDGDQRFKLQRVHFDVDFRQXQDPXMHUHVSDxROD\DORVVHLVPHVHV
HOODIDOOHFHFXiQWRWLHPSRWLHQHTXHHVSHUDUGLFKRFLXGDGDQRSDUDSRGHUDGTXLULU
ODQDFLRQDOLGDGHVSDxROD"
D/DDGTXLHUHGHVGHHOPRPHQWRGHFDVDUVH
E8QDxR
F7UHVDxRV
/DWHRUtDTXHUHFRQRFHDOUHFLpQQDFLGRGHUHFKRV\DSWLWXGSDUDVHJXLUYL
YLHQGRHVOD
D7HRUtDGHODYLDELOLGDG
E7HRUtDGHOQDFLPLHQWR
F7HRUtDHFOpFWLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$TXHOODV QRUPDV TXH FRQWLHQHQ XQD UHJOD GH DSOLFDFLyQ SDUD WRGRV SRU
HMHPSOR6HUiFRPSHWHQWHSDUDDXWRUL]DUHOPDWULPRQLRHO-XH](QFDUJDGRGHO5H
JLVWUR&LYLO\HO$OFDOGHGHO0XQLFLSLRGRQGHVHFHOHEUHHOPDWULPRQLRR&RQFHMDO
HQTXLHQGHOHJXHVHGHQRPLQDQQRUPDV
D*HQHUDOHV
E(VSHFLDOHV
F)RUDOHV
&XiOHVGHORVVLJXLHQWHVOXJDUHVVHFRQVLGHUDQGRPLFLOLRV"
D/RV3DODFLRV5HDOHV
E/RVEXTXHVPHUFDQWHV
F/DVUHVSXHVWDVD\EVRQFLHUWDV
&XiOHVVRQORVHOHPHQWRVTXHVHGLVWLQJXHQHQODQRUPDMXUtGLFD"
D6XSXHVWRGHKHFKRHLPSHUDWLYLGDG
E&RQVHFXHQFLDMXUtGLFD\JHQHUDOLGDG
F6XSXHVWRGHKHFKR\FRQVHFXHQFLDMXUtGLFD
3DUDHOUHFRQRFLPLHQWRGHODFRQGLFLyQGHUHIXJLDGRRDVLODGR
D/D&RQVWLWXFLyQ(VSDxRODKDFHUHVHUYDGHOH\RUJiQLFD
E/D&RQVWLWXFLyQ(VSDxRODQRFRQWHPSODHVWDSHFXOLDUVLWXDFLyQ
F/DOHJLVODFLyQHVSDxRODKDFHXQDUHPLVLyQDORVUHTXLVLWRVSUHYLVWRVHQODVOH\HV\HQ
ORV&RQYHQLRV,QWHUQDFLRQDOHVVXVFULWRVSRU(VSDxD
'HDFXHUGRFRQOD&RQVWLWXFLyQSRGUiXQYHFLQRVHULQIRUPDGRSUHYLDSH
WLFLyQUD]RQDGD\GLULJLUVROLFLWXGHVDOD$GPLQLVWUDFLyQ0XQLFLSDOHQUHODFLyQFRQ
WRGRVORVH[SHGLHQWHV\GRFXPHQWDFLyQPXQLFLSDO"
D1R
E6t
F6HUiSRWHVWDWLYRGHO$OFDOGH
(QWUHORVGHUHFKRVGHOYHFLQRODOH\PDUFDWD[DWLYDPHQWHTXHORVRQ
D3HGLUODFRQVXOWDSRSXODUHQORVWpUPLQRVOHJDOHV
E(MHUFHUODLQLFLDWLYDSRSXODU
F/DVUHVSXHVWDVD\EVRQYiOLGDV
&XiQWRWLHPSRGHHVWDQFLDFRQWLQXDGDHQ(VSDxDKDGHWUDQVFXUULUSDUD
SRGHUFRQFHGHUODQDFLRQDOLGDGHVSDxRODDXQLEHURDPHULFDQR"
D'RVDxRV
E7UHVDxRV
F&LQFRDxRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$XQH[WUDQMHURUHVLGHQWHGHIRUPDFRQWLQXDGDHQ(VSDxDVHOHSRGUiFRQ
FHGHUODQDFLRQDOLGDGHVSDxRODFRPRQRUPDJHQHUDODOFDERGH
D'LH]DxRV
E7UHVDxRV
F8QDxR
/DFRQFHSFLyQGHO'HUHFKRTXHHQFXHQWUDVXHVHQFLDHQORVSULQFLSLRVTXH
HPDQDQGHODQDWXUDOH]DKXPDQDRGHODUD]yQWRPDFRPRSXQWRGHSDUWLGD
D(O'HUHFKRREMHWLYR
E(O'HUHFKRVXEMHWLYR
F(O'HUHFKRQDWXUDO
/DFRQFHSFLyQGHO'HUHFKRTXHDWLHQGHVyORDODVLJQLILFDFLyQMXUtGLFDGHODV
QRUPDVWLHQHFRPRREMHWRGHHVWXGLR
D(O'HUHFKRSRVLWLYR
E(O'HUHFKRVXEMHWLYR
F(O'HUHFKRREMHWLYR
&XDQGRQRVUHIHULPRVDOFRQMXQWRGHQRUPDVGH'HUHFKRS~EOLFRTXHUHJX
ODQODRUJDQL]DFLyQ\DFWLYLGDGHVGHODVDGPLQLVWUDFLRQHVS~EOLFDVHVWDPRVKDEODQ
GRGH
D'HUHFKRDGPLQLVWUDWLYR
E'HUHFKRS~EOLFR
F'HUHFKRFRQVWLWXFLRQDO
/RVVHIDUGtHVSRGUiQVROLFLWDUODQDFLRQDOLGDGHVSDxRODGHVSXpVGHUHVLGLU
HQ(VSDxDGHIRUPDFRQWLQXDGDXQSOD]RGH
D8QDxR
E'RVDxRV
F7UHVDxRV
6HJ~QHODUWtFXORGHO&yGLJRFLYLOHVIXHQWHGLUHFWDGHORUGHQDPLHQWRMX
UtGLFRHVSDxRO
D/D'RFWULQD&LHQWtILFD
E/D-XULVSUXGHQFLD
F/D/H\
/D DGTXLVLFLyQ GH OD QDFLRQDOLGDG HVSDxROD SRU WLHPSR GH UHVLGHQFLD HQ
(VSDxD
D([LJH~QLFDPHQWHKDEHUSHUPDQHFLGRHQ(VSDxDLQLQWHUUXPSLGDPHQWHGXUDQWHFLHU
WRVSHUtRGRVGHWLHPSR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E 3RGUi VHU GHQHJDGD SRU HO 0LQLVWHULR GH -XVWLFLD SRU PRWLYRV UD]RQDGRV GH RUGHQ
S~EOLFRRLQWHUpVQDFLRQDO
F5HTXLHUHQHFHVDULDPHQWHVHUFyQ\XJHRIDPLOLDUGHXQHVSDxROGHRULJHQ
3DUDVXYDOLGH]ODVOH\HVKDQGHVHU
D6DQFLRQDGDV\SURPXOJDGDV
E3XEOLFDGDV
F7RGRORDQWHULRUHVFLHUWR
/DFRVWXPEUHVyORUHJLUiHQGHIHFWRGHOH\DSOLFDEOHDXQFDVRVLHPSUHTXH
D1RVHDFRQWUDULDDODPRUDO\DORUGHQS~EOLFR
E5HVXOWHSUREDGD
F&XPSODODVFRQGLFLRQHVDQWHULRUHV
(QYLUWXGGHOSULQFLSLRGHMHUDUTXtDQRUPDWLYD
D/DFRVWXPEUHVHDSOLFDFRQDQWHULRULGDGDODOH\
E7RGDVODVQRUPDVTXHHPDQDQGHO(VWDGRWLHQHQHOPLVPRUDQJR
F&DUHFHUiGHYDOLGH]WRGDQRUPDTXHVHRSRQJDDRWUDGHPD\RUUDQJR
6HJ~QHO&yGLJR&LYLOFyPRVHGHWHUPLQDODQDFLRQDOLGDG"
D$OFXPSOLUODPD\RUtDGHHGDG
E3RUHOQDFLPLHQWRFRQODVFRQGLFLRQHVTXHHVWLSXODHO&yGLJR&LYLO
F3RUFRQWUDHUPDWULPRQLR
(O'HUHFKRQDWXUDOHV
D,QPXWDEOH
E3HUVRQDO
F6XEMHWLYR
6HJ~QHO&yGLJR&LYLOVHSXHGHDGTXLULUODQDFLRQDOLGDGHVSDxRODGHRULJHQ
D3RUFDUWDGHQDWXUDOH]D
E3RUWLHPSRGHUHVLGHQFLDHQ(VSDxD
F3RUILOLDFLyQLXVVDQJXLQLVRSRUOXJDUGHQDFLPLHQWRLXVVROL
'HXQDIRUPDJHQHUDOSRGHPRVGHFLUTXHODVQRUPDVMXUtGLFDVWLHQHQSRU
REMHWR
D,PSODQWDUODMXVWLFLD
E5HVROYHUFRQIOLFWRV
F&DVWLJDUDORVGHOLQFXHQWHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$ODSUHODFLyQGHODVQRUPDVMXUtGLFDVFRQUHVSHFWRDVXHILFDFLD\DSOLFD
FLyQVHUHILHUHHOSULQFLSLRGH
D7HUULWRULDOLGDG
E-HUDUTXtDQRUPDWLYD
F/HJDOLGDG
4XLpQRWRUJDODQDFLRQDOLGDGHVSDxRODSRUWLHPSRGHUHVLGHQFLD"
D(O0LQLVWHULRGHO,QWHULRU
E(O0LQLVWHULRGH-XVWLFLD
F(O0LQLVWHULRGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
$OFDUiFWHUTXHWLHQHXQDQRUPDMXUtGLFDGHVHUXQPDQGDWRSDUDWRGRV
VHOHOODPD
D,PSHUDWLYLGDG
E*HQHUDOLGDG
F&RHUFLELOLGDG
(Q'HUHFKRODDSOLFDFLyQDXQDVLWXDFLyQQRSUHYLVWDSRUODOH\GHORVSULQFL
SLRVGHULYDGRVGHORUGHQDPLHQWRMXUtGLFRJHQHUDORGHODVQRUPDVTXHUHJXODQXQDVL
WXDFLyQVHPHMDQWHHQWUHODVTXHVHDSUHFLHLGHQWLGDGGHUD]yQUHFLEHHOQRPEUHGH
D&RPSOHPHQWDULHGDG
E$QDORJtD
F(MHFXWLYLGDG
3DUDTXHHO*RELHUQRSXHGDSURPXOJDUXQ7H[WR5HIXQGLGRVHUHTXLHUH
D4XHXQDOH\GHEDVHVORDXWRULFHSUHYLDPHQWH
E8QDOH\RUGLQDULDHQODTXHVHFRQWHQJDODDXWRUL]DFLyQDOHIHFWR
F8QGLFWDPHQSUHYLRGHO7ULEXQDO&RQVWLWXFLRQDO
1RSURFHGHODDSOLFDFLyQDQDOyJLFDHQODVOH\HV
D2UGLQDULDV
E3HQDOHV
F'H%DVHV
&XiQGRSXHGHQODV$VDPEOHDVGHODV&RPXQLGDGHV$XWyQRPDVUHPLWLUDOD
0HVDGHO&RQJUHVRGHORV'LSXWDGRVXQDSURSRVLFLyQGHOH\"
D6LHPSUHGHOHJDQGRDQWHGLFKD&iPDUDXQPi[LPRGHWUHVPLHPEURVGHOD$VDP
EOHD/HJLVODWLYDGHOD&RPXQLGDG$XWyQRPDSDUDTXHVHHQFDUJXHQGHVXGHIHQVD
E&XDQGRDVtORDFXHUGHSRUPD\RUtDGHGRVWHUFLRVODSURSLD$VDPEOHD/HJLVODWLYDGH
OD&RPXQLGDG$XWyQRPD
F1LQJXQDGHODVWUHVUHVSXHVWDVDQWHULRUHVHVFLHUWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XLpQVDQFLRQDODVOH\HVGHODV&RPXQLGDGHV$XWyQRPDV"
D(O5H\
E(O3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDHQQRPEUHGHO5H\
F(O3UHVLGHQWHGHO*RELHUQRHQQRPEUHGHO5H\
(QHOVXSXHVWRGHKHFKRGHXQDQRUPDMXUtGLFDVHFRQWHPSOD
D/DGHVFULSFLyQGHODFRQGXFWDKXPDQDTXHVHTXLHUHUHJXODU
E8QDYLVRFRDFWLYRGHSULYDFLyQGHOLEHUWDGSRUSDUWHGHO(VWDGR
F/DSHQDHVWDEOHFLGD\TXHVHDSOLFDUiHQFDVRGHLQFXPSOLPLHQWR
(O SULQFLSLR GH MHUDUTXtD QRUPDWLYD HVWi JDUDQWL]DGR HQ OD &RQVWLWXFLyQ
FRQFUHWDPHQWHHQVXDUWtFXOR
D
E
F
&XiQWDVFODVHVGHGRPLFLOLRH[LVWHQHQQXHVWUR'HUHFKRFLYLO"
D(OUHDOHOQHFHVDULR\HOVRFLDO
E(OYROXQWDULRHOHOHFWLYR\HOKDELWXDO
F(OUHDOHOOHJDO\HOHOHFWLYR
/DVOH\HVTXHUHJXOHQHO5pJLPHQ(OHFWRUDO*HQHUDOKDQGHVHU
D2UJiQLFDV
E5HIUHQGDGDV
F'H%DVHV
/DDSUREDFLyQGHXQDOH\RUJiQLFDKDGHKDFHUVH
D(QHO3OHQR
E(Q&RPLVLyQ
F'HSHQGHUiGHODPDWHULDWUDWDGD
7LHQHQFDUiFWHULQIRUPDGRUGHORUGHQDPLHQWRMXUtGLFR
D/DOH\
E/RV3ULQFLSLRV*HQHUDOHVGHO'HUHFKR
F/DFRVWXPEUH
/DVOH\HVTXHGHWHUPLQDQFRQSUHFLVLyQORVSULQFLSLRVGLUHFWULFHV\OtPLWHV
GHRWUDVGLVSRVLFLRQHVQRUPDWLYDVSRVWHULRUHVUHFLEHQHOQRPEUHGHOH\HV
D0DUFR
E'HWUDQVIHUHQFLDRGHOHJDFLyQ
F'HDUPRQL]DFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
,QGLVWLQWDPHQWHHQ3OHQRFRPRHQ&RPLVLRQHVODV&iPDUDVSXHGHQDSUREDU
OH\HV
D2UJiQLFDV
E2UGLQDULDV
F'HDPEDVFODVHV
6HxDOHODUHVSXHVWDLQFRUUHFWDTXHGDQH[FHSWXDGDVGHGHOHJDFLyQOHJLV
ODWLYD
D/DUHIXQGLFLyQGHYDULRVWH[WRVOHJDOHVHQXQRVROR
E/DUHIRUPDFRQVWLWXFLRQDO
F/DVFXHVWLRQHVLQWHUQDFLRQDOHV
/DVUHODFLRQHVHQWUHODVQRUPDVGHFDUiFWHUHVWDWDO\ODVHPDQDGDVGHORV
yUJDQRVFRPSHWHQWHVGHODV&RPXQLGDGHV$XWyQRPDVVHULJHQSRUHOSULQFLSLRGH
D,JXDOGDG
E/HJDOLGDG
F&RPSHWHQFLD
/DVGHFLVLRQHVSROtWLFDVGHHVSHFLDOWUDVFHQGHQFLDSRGUiQVHUVRPHWLGDVD
UHIHUpQGXPFRQVXOWLYRGHWRGRVORVFLXGDGDQRVGLFKRUHIHUpQGXPVHUiFRQYRFDGR
SRUHO5H\PHGLDQWH
D3URSXHVWDGHO&RQJUHVRRGHO6HQDGRGHELGDPHQWHDXWRUL]DGDHQYRWDFLyQPD\RULWDULD
E3URSXHVWDGHO3UHVLGHQWHGHO*RELHUQRSUHYLDPHQWHDXWRUL]DGDSRUHO&RQJUHVRGH
ORV'LSXWDGRV
F3URSXHVWDGHO3UHVLGHQWHGHO*RELHUQRRtGRHO&RQVHMRGH(VWDGR
6HxDOHODIRUPDRIRUPDVGHHPDQFLSDFLyQGHXQPHQRUGHHGDG
D$OFXPSOLUODPD\RUtDGHHGDG
E3RUFRQFHVLyQMXGLFLDO
F'HODVGRVIRUPDVDQWHULRUHV
/RVWLWXODUHVGHODSRWHVWDGOHJLVODWLYDHQ(VSDxDVRQ
D/DV&RUWHV*HQHUDOHVHQFXDQWRDIHFWHDO(VWDGR
E([FOXVLYDPHQWHHO&RQJUHVRGHORV'LSXWDGRVWDQWRVLDIHFWDDO(VWDGRFRPRDODV
&RPXQLGDGHV$XWyQRPDV
F([FOXVLYDPHQWHHO6HQDGRFRPR&iPDUD7HUULWRULDOVLVyORDIHFWDDOD&RPXQLGDG
$XWyQRPDUHVSHFWLYD
6HJ~QHODUWtFXORGHOD&RQVWLWXFLyQHQFDVRGHH[WUDRUGLQDULD\XUJHQWHQH
FHVLGDGHO*RELHUQRSRGUiGLFWDUGLVSRVLFLRQHVSURYLVLRQDOHVTXHWRPDUiQODIRUPDGH
D'HFUHWRV
E'HFUHWRV/HJLVODWLYRV
F'HFUHWRV/H\HV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVDQWHULRUHVGLVSRVLFLRQHVSURYLVLRQDOHVQRSRGUiQDIHFWDU
D$ORUGHQDPLHQWRGHODV,QVWLWXFLRQHVEiVLFDVGHO(VWDGR
E$O5pJLPHQGHODV&RPXQLGDGHV$XWyQRPDV
F$QDGDGHORH[SUHVDGRHQODVGRVUHVSXHVWDVDQWHULRUHV
/DV UHIHULGDV GLVSRVLFLRQHV SURYLVLRQDOHV XQD YH] SURPXOJDGDV GHEHUiQ
VHULQPHGLDWDPHQWHVRPHWLGDVDGHEDWH\YRWDFLyQGHWRWDOLGDGDO&RQJUHVRGHORV
'LSXWDGRV FRQYRFDGR DO HIHFWR VL QR HVWXYLHUH UHXQLGR SDUD VX FRQYDOLGDFLyQ R
GHURJDFLyQHQHOSOD]RGH
D4XLQFHGtDV
E9HLQWHGtDV
F7UHLQWDGtDV
/D&RQVWLWXFLyQHVWDEOHFHODPD\RUtDGHHGDGFLYLOHQHODUWtFXOR
D
E
F
/D GHOHJDFLyQ OHJLVODWLYD GHEHUi RWRUJDUVH PHGLDQWH XQD /H\ GH %DVHV
FXDQGRVHWUDWHGH
D/DIRUPDFLyQGHWH[WRVDUWLFXODGRV
E5HIXQGLUYDULRVWH[WRVOHJDOHVHQXQRVROR
F7UDVSDVRGHFRPSHWHQFLDVDXQD&RPXQLGDG$XWyQRPD
/RV5HJODPHQWRVDOHPDQDUGHOD$GPLQLVWUDFLyQHVWiQVRPHWLGRVDOSULQ
FLSLRGHOHJDOLGDG\VRQVXVFHSWLEOHVHQVXFDVRGHVHUILVFDOL]DGRVSRUOD-XULV
GLFFLyQ
D3HQDO
E&RQWHQFLRVRDGPLQLVWUDWLYD
F/DERUDO
6HJ~QQXHVWUR'HUHFKRFLYLOHOGRPLFLOLRUHIOHMDGRHQHO3DGUyQVHGHQRPLQD
D5HVLGHQFLDO
E5HDO
F/HJDO
'HFLUSHUVRQDItVLFDHVORPLVPRTXHGHFLUSHUVRQD
D0RUDO
E,QGLYLGXDO
F-XUtGLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$XQDSHUVRQDLQGLYLGXDOFX\DFRQGXFWDGHVRUGHQDGDSRQHHQSHOLJURVXSD
WULPRQLR\ODVXEVLVWHQFLDGHVXIDPLOLDVHOHSXHGHLPSRQHUSRUVHQWHQFLDMXGLFLDO
ODFDXVDOLPLWDWLYDGHVXFDSDFLGDGGHHMHUFLFLROODPDGD
D,QFDSDFLWDFLyQ
E3URGLJDOLGDG
F,QDGDSWDFLyQ
(OFRQMXQWRGHQRUPDVMXUtGLFDVTXHUHJXODQODVUHODFLRQHVHQWUHHO(VWDGR
\ORVSDUWLFXODUHVHV'HUHFKR
D1DWXUDO
E3ULYDGR
F3~EOLFR
/DVSHUVRQDVMXUtGLFDVTXHSRVHHQXQSDWULPRQLRGHVWLQDGRDOOHYDUDFDER
DFWLYLGDGHVVRFLDOHVFRPRSRUHMHPSORXQD2UJDQL]DFLyQ1R*XEHUQDPHQWDO21*
TXpQRPEUHUHFLEHQHQHO'HUHFKR"
D)XQGDFLRQHV
E$VRFLDFLRQHV
F&RUSRUDFLRQHV
/D &RPSDxtD ,EpULFD GH 6HUYLFLRV 6RFLHGDG $QyQLPD GHVGH HO SXQWR GH
YLVWDGHO'HUHFKRHVXQDSHUVRQD
D,QFRUSRUDO
E)tVLFD
F,QGLYLGXDO
1RUPDOPHQWHHOSDVRGHODLQFDSDFLGDGDODFDSDFLGDGSOHQDORPDUFDOD
D3HUVRQDOLGDG
E0D\RUtDGHHGDG
F7XWHOD
$FWXDOPHQWHHQODOHJLVODFLyQHVSDxRODODPD\RUtDGHHGDGSHQDO\ODPD
\RUtDGHHGDGFLYLOHVWiQILMDGDVUHVSHFWLYDPHQWH
D(QORV\DxRV
E(QORV\DxRV
F$PEDVHQORVDxRV
(OFRQMXQWRGHQRUPDVMXUtGLFDVTXHUHJXODQODYLGDGHXQDFRPXQLGDGHQXQ
PRPHQWRGHWHUPLQDGRVHOODPD'HUHFKR
D&LYLO
E3RVLWLYR
F1DWXUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QQDFLRQDOGHRULJHQHFXDWRJXLQHDQRDORVFXiQWRVDxRVGHYLYLUHQ(V
SDxDSXHGHDGTXLULUODQDFLRQDOLGDGHVSDxRODSRUWLHPSRGHUHVLGHQFLD"
D$ODxR
E$ORVGRVDxRV
F$ORVFLQFRDxRV
6RQFDUDFWHUtVWLFDVGHODQRUPDMXUtGLFDGHHQWUHODVVLJXLHQWHV
D%LODWHUDOLGDG
E%LODWHUDOLGDG\&RHUFLELOLGDG
F%LODWHUDOLGDG&RHUFLELOLGDG\*HQHUDOLGDG
(Q OD DGTXLVLFLyQ GH OD QDFLRQDOLGDG HVSDxROD SRU SRVHVLyQ \ XWLOL]DFLyQ
FRQWLQXDGDHVHVHQFLDO
D(OHVWDGRFLYLOFDVDGRRFDVDGDFRQHVSDxRODRHVSDxRO\ODLQVFULSFLyQUHJLVWUDOGH
HVHPDWULPRQLR
E(OWUDQVFXUVRGHOWLHPSRUHTXHULGRODSRVHVLyQFRQWLQXDGDGHODQDFLRQDOLGDGHVSD
xRODGHEXHQDIH\ODLQVFULSFLyQUHJLVWUDO
F4XHQRVHDQXOHODLQVFULSFLyQUHJLVWUDOTXHGLRRULJHQDODXWLOL]DFLyQGHODQDFLRQD
OLGDGHVSDxROD
8QDSHUVRQDQDFLGDHQ(VSDxDFX\DILOLDFLyQQRUHVXOWHGHWHUPLQDGD
D7HQGUiQDFLRQDOLGDGHVSDxRODGHRULJHQ
E6HOHFRQFHGHUiODQDFLRQDOLGDGHVSDxRODSRUFDUWDGHQDWXUDOH]D
F6HOHFRQVLGHUDDSiWULGD
/DVGLVSRVLFLRQHVGHO*RELHUQRTXHFRQWHQJDQOHJLVODFLyQGHOHJDGDUHFLEHQ
HOQRPEUHGH
D'HFUHWR
E'HFUHWRV/H\HV
F'HFUHWRV/HJLVODWLYRV
3DUD OD DGTXLVLFLyQ GH OD QDFLRQDOLGDG HVSDxROD SRU WLHPSR GH UHVLGHQ
FLDFRQWLQXDGDHQ(VSDxDHLQPHGLDWDPHQWHDQWHULRUDODSHWLFLyQVHUiWLHPSR
VXILFLHQWH GH UHVLGHQFLD HO GH XQ DxR SDUD HO VROLFLWDQWH HQ TXp FDVR GH ORV
VLJXLHQWHV"
D4XLHQDOWLHPSRGHODVROLFLWXGOOHYDUHXQDxRFDVDGRFRQHVSDxRORHVSDxROD\QR
HVWXYLHUHVHSDUDGROHJDOPHQWHRGHKHFKR
E(OYLXGRRYLXGDGHHVSDxRODRHVSDxROVLDODPXHUWHGHOFyQ\XJHQRH[LVWLHUDVH
SDUDFLyQOHJDORGHKHFKR
F(QFXDOTXLHUDGHORVGRVFDVRVDQWHULRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QH[WUDQMHURPD\RUGHHGDGDGRSWDGRSRUHVSDxROSXHGHDGTXLULUODQD
FLRQDOLGDGHVSDxROD
D(QHOSOD]RGHGRVDxRVGHVGHTXHFRQFOX\DODDGRSFLyQ
E3RUHOHMHUFLFLRGHOGHUHFKRGHRSFLyQ
F3RUFDUWDGHQDWXUDOH]D
6HHQWLHQGHSRUSHUVRQD
D7RGRVHUFDSD]GHGHUHFKRV\REOLJDFLRQHV
E$ODFDSDFLGDGSDUDDFWXDUMXUtGLFDPHQWH
F$XQDSHUVRQDLPSRUWDQWH
(QHOFDVRGHXQPHQRUGHDxRVLPSXWDGRHQODFRPLVLyQGHXQGHOLWRGH
WHUURULVPRFRPSHWHFRQRFHUGHOPLVPR
D$O-X]JDGR&HQWUDOGH0HQRUHVGHOD$XGLHQFLD1DFLRQDO
E$O-X]JDGRGH0HQRUHVGHODSURYLQFLDGRQGHRFXUULHURQORVKHFKRV
F$O0LQLVWHULR)LVFDOGHODUHVSHFWLYD$XGLHQFLD3URYLQFLDO
/D VHGH MXUtGLFD GH OD SHUVRQD GRQGH HMHUFLWD ORV GHUHFKRV \ FXPSOH ODV
REOLJDFLRQHVSRUWHQHUVXUHVLGHQFLDKDELWXDOHVODGHILQLFLyQGH
D'RPLFLOLR
E5HVLGHQFLD
F9LYLHQGD
/DQDFLRQDOLGDGHVSDxRODRWRUJDGDGLVFUHFLRQDOPHQWHPHGLDQWH5HDO'H
FUHWRFXDQGRHQHOLQWHUHVDGRFRQFXUUDQFLUFXQVWDQFLDVH[FHSFLRQDOHVORHVSRU
D$GRSFLyQ
E2SFLyQ
F&DUWDGHQDWXUDOH]D
/DH[SUHVLyQHVSRQWiQHDGHODFRQFLHQFLDVRFLDOGHPDQHUDLQYROXQWDULDHQ
IRUPDGHQRUPDVQRHVFULWDVHVORTXHVHFRQRFHFRQHOQRPEUHGH
D'RFWULQD&LHQWtILFD
E&RVWXPEUH
F3ULQFLSLRV*HQHUDOHVGHO'HUHFKR
/RV3ULQFLSLRV*HQHUDOHVGHO'HUHFKRVHDSOLFDUiQ
D(QGHIHFWRGH/H\\GH&RVWXPEUH
E6LQSHUMXLFLRGHVXFDUiFWHULQIRUPDGRUGHORUGHQDPLHQWRMXUtGLFR
F7RGDVODVUHVSXHVWDVDQWHULRUHVVRQFRUUHFWDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OGRPLFLOLRHVFRJLGRSRUODVSDUWHVSDUDGHWHUPLQDGDVUHODFLRQHVMXUtGLFDV
UHFLEHHOQRPEUHGH
D9ROXQWDULR
E1HFHVDULR
F(VSHFLDO
$ORVQDFLGRVHQ(VSDxDGHSDGUHVH[WUDQMHURVTXpUHTXLVLWRVHOHVH[LJH
SDUDUHFRQRFHUOHVODQDFLRQDOLGDGHVSDxRODGHRULJHQ"
D4XHHOSDGUHRODPDGUHKXELHUDQQDFLGRWDPELpQHQ(VSDxD\FDUH]FDQGHQDFLR
QDOLGDG
E&XDQGRODOHJLVODFLyQGHOSDGUHQLODGHODPDGUHDWULEX\DQDOKLMRXQDQDFLRQDOLGDG
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQYiOLGDV
&XDQGRHQODUHODFLyQMXUtGLFDLQWHUYLHQHXQ(QWHS~EOLFRVHDSOLFDHO'HUHFKR
D3~EOLFR
E6RFLDO
F&LYLO
(ODUWtFXORGHOD&RQVWLWXFLyQHVWDEOHFHODMHUDUTXtDQRUPDWLYDHOORTXLHUH
GHFLUTXH
D/DVOH\HVVHDSOLFDQDODVSHUVRQDVVHJ~QVXUDQJRVRFLDO
E/DVQRUPDVGHUDQJRLQIHULRUVHVXERUGLQDQDODVGHUDQJRVXSHULRU
F([FOXVLYDPHQWHORV7ULEXQDOHVGLFWDPLQDQODSULRULGDGDSOLFDEOH
5HVSHFWR D ODV SHUVRQDV MXUtGLFDV D IDOWD GH GHWHUPLQDFLyQ H[SUHVD VH
HQWHQGHUiTXHWLHQHQVXGRPLFLOLRHQHOOXJDU
D'HVXFRQVWLWXFLyQ
E'HODXELFDFLyQGHODPD\RUGHVXVVHGHV
F'RQGHVHKDOOHHVWDEOHFLGDVXUHSUHVHQWDFLyQOHJDO
&XiQGRVHSRGUiSULYDUGHVXQDFLRQDOLGDGDXQHVSDxROGHRULJHQ"
D3RUFRPHWHUGHOLWRVGHWHUURULVPR
E1RVHOHSXHGHSULYDU
F3RUFRPHWHUGHOLWRVFRQWUDOD+XPDQLGDG
6HJ~QODMHUDUTXtDQRUPDWLYDQLQJXQDQRUPDGHUDQJRLQIHULRUGHEHUiRSR
QHUVHDRWUDGHUDQJRVXSHULRUSRUHOORXQDOH\RUGLQDULDQRGHEHUiVHUFRQWUDULD
DXQGHFUHWR
D&LHUWR
E,QFLHUWR
F6yORFXDQGRORV-XHFHVORFUHDQMXVWR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QHO&yGLJR&LYLOODFXDOLGDGGHYHFLQRVHGHPXHVWUD
D&RQODUHLWHUDGDYLYLHQGDHQXQOXJDU
E&XDQGRVHOOHYHFLHUWRWLHPSRHQXQDORFDOLGDG
F&XDQGRVHLQVFULEDHQHO3DGUyQ0XQLFLSDO
&XiOGHHQWUHODVVLJXLHQWHVUHVSXHVWDVWLHQHPD\RUUDQJRHQODMHUDUTXtD
QRUPDWLYD"
D/H\2UGLQDULD
E5HDO'HFUHWR
F/H\2UJiQLFD
(QHO&yGLJR&LYLOVHUHFRQRFHQGHUHFKRVDXQDSHUVRQDWRGDYtDQRQDFLGD"
D6t
E6LHVYDUyQVtVLHVPXMHUQR
F6LHVPXMHUVtVLHVYDUyQQR
/DVOH\HVRUJiQLFDVVHFDUDFWHUL]DQ
D3RUUHTXHULUSDUDVXDSUREDFLyQXQTXyUXPHVSHFLDOPHQWHUHIRU]DGRFRQVLVWHQWH
HQODPD\RUtDDEVROXWDGHODV&RUWHV*HQHUDOHVHQVHVLyQFRQMXQWD
E3RUUHJXODU~QLFDPHQWHHOGHVDUUROORGHORVGHUHFKRVIXQGDPHQWDOHV\GHODVOLEHU
WDGHVS~EOLFDV
F3RUUHTXHULUSDUDVXDSUREDFLyQODPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRV
7RGDVODVOH\HVDSUREDGDVSRUHO3DUODPHQWRVRQGHLJXDOLPSRUWDQFLD\
UDQJR
D&LHUWR
E([FHSWRORV5HDOHV'HFUHWRV
F,QFLHUWR
6LXQDKDELWDFLyQGHKRWHOHVXWLOL]DGDSDUDUHDOL]DUDFWLYLGDGHVGHFDUiFWHU
SURIHVLRQDORPHUFDQWLOVHUtDQHFHVDULRHORSRUWXQRPDQGDPLHQWRMXGLFLDOHQFDVR
GHWHQHUTXHUHDOL]DUXQUHJLVWUR"
D6tVLHPSUHHVQHFHVDULRGLFKRPDQGDPLHQWR
E1RHVQHFHVDULRHOPHQFLRQDGRPDQGDPLHQWR
F 6L WLHQH UHJLVWUDGD PHUFDQWLO R SURIHVLRQDOPHQWH VX DFWLYLGDG Vt HV QHFHVDULR HO
PDQGDPLHQWR
(QWUH ORV VLJXLHQWHV JUXSRV FXiOHV VRQ ODV GLVSRVLFLRQHV GH FDUiFWHU
JHQHUDO\REOLJDWRULRTXHSXHGHGLFWDUHO3RGHU(MHFXWLYR"
D/H\HV2UJiQLFDV'HFUHWRV/H\HV\'HFUHWRV/HJLVODWLYRV
E'HFUHWRVUGHQHVGHODV&RPLVLRQHV'HOHJDGDV\UGHQHV0LQLVWHULDOHV
F/H\HV2UGLQDULDV&LUFXODUHV\'HFUHWRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OGHEDWHGHILQLWLYRGHXQDOH\ORUHDOL]D
D(O*RELHUQR
E(O3DUODPHQWR
F(O7ULEXQDO&RQVWLWXFLRQDO
(OYLXGRRYLXGDGHHVSDxRODRHVSDxROVLDODPXHUWHGHOFyQ\XJHQRH[LV
WHVHSDUDFLyQOHJDORGHKHFKRSRGUiREWHQHUODQDFLRQDOLGDGHVSDxRODSRUWLHPSR
GHUHVLGHQFLDHQ(VSDxDFXDQGRKD\DQWUDQVFXUULGR
D8QDxR
E'RVDxRV
F7UHVDxRV
/DLQFDSDFLWDFLyQSRUDOJXQDFDXVDHVWDEOHFLGDHQODOH\ODKDEUiGHGH
WHUPLQDU
D(O0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQ
F3RUVHQWHQFLDMXGLFLDOILUPH
6RQFDUDFWHUHVHVHQFLDOHVGHO'HUHFKR
D/DREOLJDWRULHGDG\ODJHQHUDOLGDG
E/DYROXQWDULHGDG\ODFXOSDELOLGDG
F/DSXEOLFLGDG\ODSDWULPRQLDOLGDG
$ORVHIHFWRVGHHQWUDGD\UHJLVWURVHFRQVLGHUDQGRPLFLOLRVSDUWLFXODUHV
ORVSDODFLRVUHDOHVHVWpQRQRKDELWDGRVSRUHO0RQDUFDHQHVRVPRPHQWRV"
D6tVLHPSUH
E6yORFXDQGRHVWpQKDELWDGRVDODKRUDGHHIHFWXDUORV
F1RQXQFD
/RV5HJODPHQWRVWLHQHQVLHPSUHUDQJR
D6XSHULRUDOGHXQDOH\RUGLQDULD
E,JXDODOGHXQDOH\RUGLQDULD
F,QIHULRUDOGHXQDOH\RUGLQDULD
(QHOFyPSXWRGHODHGDGGHXQDSHUVRQDItVLFDHOGtDGHOQDFLPLHQWR
D1RVHFRPSXWD
E6HLQFOX\HFRPRFRPSOHWR
F6HFRPSXWDHQKRUDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRXQDSHUVRQDSXHGHHMHUFHUVXVGHUHFKRV\FXPSOLUVXVGHEHUHV
DVtFRPRUHDOL]DUDFWRVMXUtGLFRVSRUVtPLVPRVHGLFHTXHWLHQH
D&DSDFLGDGMXUtGLFD
E&DSDFLGDGGHREUDU
F3HUVRQDOLGDG
1RHVIXHQWHGLUHFWDGHORUGHQDPLHQWRMXUtGLFRHVSDxRO
D/RV3ULQFLSLRV*HQHUDOHVGHO'HUHFKR
E/D/H\
F/D(TXLGDG
/DFDSDFLGDGMXUtGLFDODWLHQHQWRGDVODVSHUVRQDV"
D$SDUWLUGHORVGLHFLVpLVDxRV
E6tWRGRVDOOOHJDUDODPD\RUtDGHHGDG
F6tWRGRVGHVGHVXQDFLPLHQWR
&yPRVHUHJXODODLQLFLDWLYDSRSXODUSDUDODUHIRUPDGHOH\HV"
D5HDO'HFUHWR
E/H\2UGLQDULD
F/H\2UJiQLFD
4XpPD\RUtDHVQHFHVDULDSDUDDSUREDUXQDOH\RUGLQDULD"
D0D\RUtDVLPSOHGHDPEDV&iPDUDV
E0D\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRV
F0D\RUtDFXDOLILFDGD
/DVOH\HVTXHUHJXODQORVGHUHFKRVIXQGDPHQWDOHVGHQXHVWUD&RQVWLWX
FLyQVRQ
D2UGLQDULDV
E2UJiQLFDV
F3UR\HFWRVGHOH\
3RGUiREWHQHUODQDFLRQDOLGDGHVSDxRODGHRULJHQPHGLDQWHDGRSFLyQGH
XQHVSDxROHOH[WUDQMHUR
D0HQRUGHGLHFLRFKRDxRVGHVGHODDGRSFLyQ
E0D\RUGHGLHFLRFKRDxRVHQHOSOD]RGHGRVDxRVDSDUWLUGHODFRQVWLWXFLyQGHOD
DGRSFLyQ
F3RUFXDOTXLHUDGHODVGRVIRUPDVDQWHULRUHV
(O'HUHFKRHV
D/DRUGHQDFLyQPRUDOLPSHUDWLYDGHODYLGDVRFLDOKXPDQDRULHQWDGDDODUHDOL]DFLyQ
GHODMXVWLFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E8QFRQMXQWRGHQRUPDVTXHHVWDEOHFHHO(VWDGRFRQFDUiFWHUJHQHUDO\REOLJDWRULR
SDUDUHJXODUODFRQYLYHQFLDHQVRFLHGDG
F/DVUHVSXHVWDVD\EVRQFRUUHFWDV
/DVQRUPDVTXHSXHGHQDOFDQ]DUUDQJRGHOH\SHURTXHQRVRQGLFWDGDV
SRUHO3DUODPHQWRVRQ
D/RVGHFUHWRVOHJLVODWLYRV
E/RVGHFUHWRVOH\HV
7RGDVODVOH\HVRUGLQDULDVSDUDVHUWDOHVUHTXLHUHQQHFHVDULDPHQWHVHU
DSUREDGDVFRPRPtQLPR
D3RUPD\RUtDDEVROXWDGHODV&RUWHV*HQHUDOHV
E3RUPD\RUtDVLPSOHGHODV&RUWHV*HQHUDOHV
F3RUPD\RUtDFXDOLILFDGDGHODV&RUWHV*HQHUDOHV
/DVQRUPDVMXUtGLFDVVHLQWHUSUHWDUiQDWHQGLHQGR
D)XQGDPHQWDOPHQWHDOHVStULWX\ILQDOLGDGGHODVPLVPDV
E6RODPHQWHDOFRQWHQLGR
F$ODIXHU]DGHVXLPSRVLFLyQ
6HxDOHODUHVSXHVWDIDOVD
D/DHTXLGDGKDEUiGHSRQGHUDUVHHQODDSOLFDFLyQGHODVQRUPDVMXUtGLFDV
E/DVGLVSRVLFLRQHVGHO&yGLJRFLYLOVHDSOLFDUiQFRPRVXSOHWRULDVHQODVPDWHULDVUH
JLGDVSRURWUDVOH\HV
F(QQLQJ~QFDVRVHSXHGHGDUODH[FOXVLyQYROXQWDULDGHODOH\DSOLFDEOH\ODUHQXQFLD
GHORVGHUHFKRVHQHOODUHFRQRFLGRV
4Xp QRPEUH UHFLEH HO GRPLFLOLR GH XQPHQRU GH HGDGTXHHVWi EDMROD
SDWULDSRWHVWDGGHVXVSDGUHV"
D5HDORYROXQWDULR
E/HJDORQHFHVDULR
F(OHFWLYRRHVSHFLDO
6LSRUFXDOTXLHUFLUFXQVWDQFLDORVSDGUHVWLHQHQGLVWLQWDYHFLQGDGORVKLMRV
GHHOORVWHQGUiQ
D/DGHOOXJDUGHOQDFLPLHQWR
E/D~OWLPDTXHKD\DWHQLGRHOPDWULPRQLRHQFRP~Q
F/DTXHWHQJDDTXHOGHORVFyQ\XJHVUHVSHFWRGHOFXDOODILOLDFLyQKD\DVLGRGHWHUPL
QDGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DUHJXODFLyQGHOUpJLPHQHOHFWRUDOJHQHUDOVHKDFHPHGLDQWH
D/H\RUGLQDULD
E/H\RUJiQLFD
F'HFUHWROH\
/DVOH\HVRUJiQLFDVVHDSUXHEDQ
D(Q&RPLVLyQ
E(Q3OHQR
F3XHGHQDSUREDUVHGHDPEDVIRUPDV
&XDQGRGHFLPRVTXHFDUHFHUiQGHYDOLGH]ODVGLVSRVLFLRQHVTXHFRQWUDGL
JDQRWUDGHUDQJRVXSHULRUHVWDPRVDOXGLHQGRDOSULQFLSLRGH
D-HUDUTXtDQRUPDWLYD
E5HWURDFWLYLGDG
F,JXDOGDGQRUPDWLYD
(QTXpUHVSXHVWDSRGHPRVHQFXDGUDUORV'HFUHWRV/HJLVODWLYRV"
D/H\HVGHDUPRQL]DFLyQ
E/H\HVRUJiQLFDV
F/H\HVRUGLQDULDV
$TXLpQVHDWULEX\HODOODPDGDOHJLVODFLyQGHXUJHQFLD"
D$O*RELHUQR
E$OSRGHUMXGLFLDO
F$OSRGHUOHJLVODWLYR
/D&RQVWLWXFLyQ(VSDxRODKDFHWLWXODUGHODSRWHVWDGOHJLVODWLYD
D$ODV&RUWHV*HQHUDOHV
E$ODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV$XWyQRPDV
/RV5HJODPHQWRVHPDQDQGHOSRGHU
D/HJLVODWLYR
E(MHFXWLYR
F-XGLFLDO
$ XQ HVSDxRO GH RULJHQ FXiQGR VH OH SXHGH SULYDU GH OD QDFLRQDOLGDG
HVSDxROD"
D3RUGHOLWRVGHWHUURULVPR
E6LHPSUHTXHHO*RELHUQR\HO3RGHU-XGLFLDOHVWLPHQPRWLYRVXILFLHQWHSDUDODVHJX
ULGDGS~EOLFD
F1RVHOHSXHGHSULYDUGHHOOD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$OFDERGHFXiQWRWLHPSRHQ(VSDxDSXHGHDGTXLULUODQDFLRQDOLGDGHVSD
xRODXQFLXGDGDQRILOLSLQR"
D&LQFRDxRV
E'RVDxRV
F8QDxR
/D QDFLRQDOLGDG HVSDxROD SRU WLHPSR GH UHVLGHQFLD HQ QXHVWUR SDtV OD
FRQFHGH
D(O5H\
E(O0LQLVWURGH-XVWLFLD
F(O0LQLVWURGHO,QWHULRU
(O*RELHUQRFXDQGRHQXQH[WUDQMHURFRQFXUUHQFLUFXQVWDQFLDVH[FHSFLR
QDOHVSXHGHFRQFHGHUOHVLODVROLFLWDODQDFLRQDOLGDGHVSDxRODPHGLDQWH
D(OGHUHFKRGHRSFLyQ
E3RVHVLyQFRQWLQXDGD
F&DUWDGHQDWXUDOH]D
8QPHQRUQRHPDQFLSDGRTXHYLYHFRQVXVSDGUHVWLHQHGRPLFLOLRGHFD
UiFWHU
D5HDO
E/HJDO
F(OHFWLYR
&XDQGRXQDQRUPDHVGHURJDGDVLJQLILFDTXHSLHUGHVXYLJHQFLDSHUROD
GHURJDFLyQVHSURGXFHHQWRGRFDVR
D3RURWUDQRUPDSRVWHULRUFRQLQGHSHQGHQFLDGHVXUDQJR
E3RURWUDSRVWHULRUGHLQIHULRUUDQJR
F3RURWUDSRVWHULRUGHLJXDORVXSHULRUUDQJR
/DVDQFLyQSURPXOJDFLyQ\SXEOLFDFLyQRUGHQDGDHQHO%ROHWtQ2ILFLDOGHO
(VWDGRFRUUHVSRQGH
E$O5H\
F$O3UHVLGHQWHGHO*RELHUQR
/DVSHUVRQDVMXUtGLFDV
D3XHGHQHMHUFHUDFFLRQHVSHQDOHVFRQWUDRWUDVSHUVRQDVItVLFDVRMXUtGLFDV\WLHQHQ
FDSDFLGDGMXUtGLFD\FDSDFLGDGGHREUDURGHHMHUFLFLR
E(VWiQFRQVWLWXLGDVSRUXQFRQMXQWRGHSHUVRQDVSDUDODFRQVHFXFLyQGHXQILQDODV
TXHHO'HUHFKRUHFRQRFHFRPRWDOHV
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQFRUUHFWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOGHODVVHxDODGDVDFRQWLQXDFLyQHVODGHILQLFLyQMXUtGLFDGHSHUVRQD"
E7RGRHQWHFDSD]GHVHUVXMHWRDFWLYR\SDVLYRGHUHODFLRQHVMXUtGLFDV
F6RQFLHUWDVODVUHVSXHVWDVD\E
([LVWHQGRVFODVHVGHSHUVRQDVTXHVRQ
D)tVLFDV\MXUtGLFDV
E3~EOLFDV\SULYDGDV
F)tVLFDV\SROtWLFDV
/DUHVLGHQFLDSHUPDQHQWHHQXQOXJDUGRQGHVHHMHUFLWDQORVGHUHFKRV\
VHFXPSOHQODVREOLJDFLRQHVHV
D/DUHVLGHQFLD
E(OGRPLFLOLR
F(OFHQVRHOHFWRUDO
(OSRGHUTXHODQRUPDFRQFHGHDODSHUVRQDHVORTXHVHFRQRFHFRQHO
QRPEUHGH
D1RUPDMXUtGLFD
E'HUHFKRVXEMHWLYR
F'HUHFKRREMHWLYR
(OSDVRGHODLQFDSDFLGDGDODFDSDFLGDGGHREUDUORPDUFD
D/DPD\RUtDGHHGDG
E/DSHUVRQDOLGDG
F/DFDSDFLGDGMXUtGLFD
6HxDOHODDILUPDFLyQLQFRUUHFWD
D/DVOH\HVVLHPSUHHQWUDQHQYLJRUDORVYHLQWHGtDVGHVXSXEOLFDFLyQHQHO%ROHWtQ
2ILFLDOGHO(VWDGR
E /D GHURJDFLyQ WiFLWD GH XQD OH\ VH SURGXFH SRU RWUD SRVWHULRU TXH FRQWUDGLFH VX
FRQWHQLGR
F(OSULQFLSLRGHFRPSHWHQFLDUHJXODODVUHODFLRQHVHQWUHODVQRUPDVHVWDWDOHV\ODV
DXWRQyPLFDVPHGLDQWHXQDGLVWULEXFLyQGHPDWHULDV
([LVWHQWUHVFODVHVGHGRPLFLOLRTXHVRQ
D1RUPDOOHJDO\HIHFWLYR
E/HJDOUHDO\HOHFWLYR
F5HDOOHJDO\HIHFWLYR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XLpQHVVRQHVSDxROHVSRULXVVROL"
D6LHPSUHORVRQORVQDFLGRVHQ(VSDxDGHSDGUHVH[WUDQMHURV
E/RVQDFLGRVHQWHUULWRULRHVSDxRO
F/RVQDFLGRVHQXQD(PEDMDGDGH(VSDxDHQHOH[WUDQMHUR
4XpDFWRGHWHUPLQDODSHUVRQDOLGDG"
D/DFDSDFLGDGMXUtGLFDRGHJRFH
E(OQDFLPLHQWR
F/DFDSDFLGDGGHREUDURGHHMHUFLFLR
/DVGLVSRVLFLRQHVGHO*RELHUQRTXHFRQWLHQHQOHJLVODFLyQGHOHJDGDUHFL
EHQHOWtWXORGH
D'HFUHWRVOHJLVODWLYRV
E'HFUHWRVOH\HV
F/H\HVRUGLQDULDV
4XpSUHYDOHQFLDGHGRPLFLOLRWLHQHQODVSHUVRQDVMXUtGLFDV"
D'RQGHORWHQJDILMDGRODOH\TXHODVKD\DFUHDGRRUHFRQRFLGR
E'RQGHGLVSRQJDQVXVHVWDWXWRVRUHJODVGHIXQGDFLyQ
F(OOXJDUHQTXHVHKDOOHHVWDEOHFLGDVXUHSUHVHQWDFLyQOHJDORGRQGHHMHU]DQODVSULQ
FLSDOHVIXQFLRQHVGHVXLQVWLWXWR
&yPRVHGHQRPLQDDO'HUHFKRTXHULJHHQXQPRPHQWRKLVWyULFRGHWHU
PLQDGR"
D'HUHFKRQDWXUDO
E'HUHFKRSRVLWLYR
F'HUHFKRJHQHUDO
(O'HFUHWRGHFRQFHVLyQGHODQDFLRQDOLGDGHVSDxRODSRUFDUWDGHQDWX
UDOH]DVLHOSHWLFLRQDULRQRFXPSOHFRQODSUHVHQWDFLyQ\UHTXLVLWRVH[LJLGRVDQWH
IXQFLRQDULRFRPSHWHQWHFDGXFDDORV
DGtDV
EGtDV
FGtDV
8QDQRUPDGHODTXHQDFHQGHUHFKRV\REOLJDFLRQHVWDQWRSDUDHOTXHODV
KDFHFRPRSDUDTXLHQHVYD\DQGLULJLGDVWLHQHHOFDUiFWHUGH
D,PSHUDWLYD
E&RHUFLWLYD
F%LODWHUDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(VWiSHUPLWLGDODDSOLFDFLyQDQDOyJLFDGHXQDOH\HQHOWHUUHQRSHQDO"
D(VWiSHUPLWLGDVLHPSUH
E'HSHQGHUiGHODQDWXUDOH]DGHOGHOLWRFRPHWLGR
F(VWiSURKLELGDVLHOORSHUMXGLFDDOUHR
6HJ~QOD&RQVWLWXFLyQHOORVWLWXODUHVGHODSRWHVWDGOHJLVODWLYDHVVRQHQ
FXDQWRDOH\HVRUJiQLFDV
D/DV&RUWHV*HQHUDOHV
E/DV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV$XWyQRPDV
/DSRVLEOHLQFRQVWLWXFLRQDOLGDGGHXQ5HJODPHQWRVHSXHGHLPSXJQDUDQWH
D(O7ULEXQDO&RQVWLWXFLRQDO
E'LUHFWDPHQWHDQWHHO7ULEXQDO6XSUHPR
F$QWHOD-XULVGLFFLyQ&RQWHQFLRVRDGPLQLVWUDWLYD

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E/DUHIRUPDFRQVWLWXFLRQDOODVFXHVWLRQHVLQWHUQDFLRQDOHVODVOH\HVRUJiQLFDV\
GHEDVHV\ORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
D(OPDWULPRQLRQRDOWHUDODYHFLQGDG
D5HDORYROXQWDULR
D&XDQGRHQHOLQWHUHVDGRFRQFXUUHQFLUFXQVWDQFLDVH[FHSFLRQDOHV
D5HVLGLHQGROHJDOPHQWHHQ(VSDxDGHFODUDQGRDQWHHO(QFDUJDGRGHO5HJLVWUR
&LYLOVXYROXQWDGGHUHFXSHUDUODHLQVFULELHQGRODUHFXSHUDFLyQHQHO5HJLVWUR&LYLO
E8QD&RVWXPEUH
E$ORVYHLQWHGtDV
E(O'HUHFKRQDWXUDO
DUGHQHVGHODV&RPLVLRQHVGHO*RELHUQRUGHQHV0LQLVWHULDOHV\'LVSRVLFLRQHV
GH$XWRULGDGHV\yUJDQRVLQIHULRUHV
E/DOLEHUWDGGHHPSUHVDHQXQDHFRQRPtDGHPHUFDGR
F1DFLRQDOLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E3URFHVDO
E6yORSRUXQDOH\GHODV&RUWHV*HQHUDOHVRGHODV$VDPEOHDV/HJLVODWLYDVGHODV
&RPXQLGDGHV$XWyQRPDV
D5HDO'HFUHWR
F(VHVSDxRODSRUILOLDFLyQ
E5HDO'HFUHWR
D/DYHFLQGDGFLYLO
E8QDxR
D7HRUtDGHODYLDELOLGDG
D*HQHUDOHV
F6XSXHVWRGHKHFKR\FRQVHFXHQFLDMXUtGLFD
F/DOHJLVODFLyQHVSDxRODKDFHXQDUHPLVLyQDORVUHTXLVLWRVSUHYLVWRVHQODVOH\HV
\HQORV&RQYHQLRV,QWHUQDFLRQDOHVVXVFULWRVSRU(VSDxD
E6t
F/DVUHVSXHVWDVD\EVRQYiOLGDV
D'RVDxRV
D'LH]DxRV
F(O'HUHFKRQDWXUDO
F(O'HUHFKRSRVLWLYR
D'HUHFKRDGPLQLVWUDWLYR
E'RVDxRV
F/D/H\
E3RGUiVHUGHQHJDGDSRUHO0LQLVWHULRGH-XVWLFLDSRUPRWLYRVUD]RQDGRVGHRUGHQ
S~EOLFRRLQWHUpVQDFLRQDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F&XPSODODVFRQGLFLRQHVDQWHULRUHV
F&DUHFHUiGHYDOLGH]WRGDQRUPDTXHVHRSRQJDDRWURGHPD\RUUDQJR
E3RUHOQDFLPLHQWRFRQODVFRQGLFLRQHVTXHHVWLSXODHO&yGLJRFLYLO
D,QPXWDEOH
F3RUILOLDFLyQLXVVDQJXLQLVRSRUOXJDUGHQDFLPLHQWRLXVVROL
D,PSODQWDUODMXVWLFLD
E-HUDUTXtDQRUPDWLYD
E*HQHUDOLGDG
E$QDORJtD
E8QDOH\RUGLQDULDHQODTXHVHFRQWHQJDODDXWRUL]DFLyQDOHIHFWR
E3HQDOHV
D 6LHPSUH GHOHJDQGR DQWH GLFKD &iPDUD XQ Pi[LPR GH WUHV PLHPEURV GH OD
$VDPEOHD/HJLVODWLYDGHOD&RPXQLGDG$XWyQRPDSDUDTXHVHHQFDUJXHQGHVXGHIHQVD
E(O3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDHQQRPEUHGHO5H\
D/DGHVFULSFLyQGHODFRQGXFWDKXPDQDTXHVHTXLHUHUHJXODU
F
F(OUHDOHOOHJDO\HOHOHFWLYR
D2UJiQLFDV
D(QHO3OHQR
E/RV3ULQFLSLRV*HQHUDOHVGHO'HUHFKR
D0DUFR
E2UGLQDULDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/DUHIXQGLFLyQGHYDULRVWH[WRVOHJDOHVHQXQRVROR
F&RPSHWHQFLD
E3URSXHVWDGHO3UHVLGHQWHGHO*RELHUQRSUHYLDPHQWHDXWRUL]DGDSRUHO&RQJUHVR
GHORV'LSXWDGRV
D/DV&RUWHV*HQHUDOHVHQFXDQWRDIHFWHDO(VWDGR
F'HFUHWRVOH\HV
F$QDGDGHORH[SUHVDGRHQODVGRVUHVSXHVWDVDQWHULRUHV
F7UHLQWDGtDV
F
D/DIRUPDFLyQGHWH[WRVDUWLFXODGRV
E&RQWHQFLRVRDGPLQLVWUDWLYD
E5HDO
E,QGLYLGXDO
E3URGLJDOLGDG
F3~EOLFR
D)XQGDFLRQHV
D,QFRUSRUDO
E0D\RUtDGHHGDG
F$PEDVDORVDxRV
E3RVLWLYR
E$ORVGRVDxRV
F%LODWHUDOLGDG&RHUFLELOLGDG\*HQHUDOLGDG
E(OWUDQVFXUVRGHOWLHPSRUHTXHULGRODSRVHVLyQFRQWLQXDGDGHODQDFLRQDOLGDG
HVSDxRODGHEXHQDIH\ODLQVFULSFLyQUHJLVWUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D7HQGUiQDFLRQDOLGDGHVSDxRODGHRULJHQ
F'HFUHWRV/HJLVODWLYRV
F(QFXDOTXLHUDGHORVGRVFDVRVDQWHULRUHV
E3RUHOHMHUFLFLRGHOGHUHFKRGHRSFLyQ
D$O-X]JDGR&HQWUDOGH0HQRUHVGHOD$XGLHQFLD1DFLRQDO
D'RPLFLOLR
F&DUWDGHQDWXUDOH]D
E&RVWXPEUH
F(VSHFLDO
D3~EOLFR
E/DVQRUPDVGHUDQJRLQIHULRUVHVXERUGLQDQDODVGHUDQJRVXSHULRU
F'RQGHVHKDOOHHVWDEOHFLGDVXUHSUHVHQWDFLyQOHJDO
E1RVHOHSXHGHSULYDU
E,QFLHUWR
F&XDQGRVHLQVFULEDHQHO3DGUyQ0XQLFLSDO
F/H\RUJiQLFD
D6t
F3RUUHTXHULUSDUDVXDSUREDFLyQODPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSX
WDGRV
F,QFLHUWR
E1RHVQHFHVDULRHOPHQFLRQDGRPDQGDPLHQWR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HFUHWRVUGHQHVGHODV&RPLVLRQHV'HOHJDGDV\UGHQHV0LQLVWHULDOHV
E(O3DUODPHQWR
D8QDxR
F3RUVHQWHQFLDMXGLFLDOILUPH
D/DREOLJDWRULHGDG\ODJHQHUDOLGDG
D6tVLHPSUH
F,QIHULRUDOGHXQDOH\RUGLQDULD
E6HLQFOX\HFRPRFRPSOHWR
E&DSDFLGDGGHREUDU
F/D(TXLGDG
F6tWRGRVGHVGHVXQDFLPLHQWR
F/H\2UJiQLFD
D0D\RUtDVLPSOHGHDPEDV&iPDUDV
E2UJiQLFDV
F3RUFXDOTXLHUDGHODVGRVIRUPDVDQWHULRUHV
E3RUPD\RUtDVLPSOHGHODV&RUWHV*HQHUDOHV
D)XQGDPHQWDOPHQWHDOHVStULWX\ILQDOLGDGGHODVPLVPDV
F(QQLQJ~QFDVRVHSXHGHGDUODH[FOXVLyQYROXQWDULDGHODOH\DSOLFDEOH\OD
UHQXQFLDGHORVGHUHFKRVHQHOODUHFRQRFLGRV
E/HJDORQHFHVDULR
F /D TXH WHQJD DTXHO GH ORV FyQ\XJHV UHVSHFWR GHO FXDO OD ILOLDFLyQ KD\D VLGR
GHWHUPLQDGD
E/H\RUJiQLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E(Q3OHQR
D-HUDUTXtDQRUPDWLYD
F/H\HVRUGLQDULDV
D$O*RELHUQR
E(MHFXWLYR
F1RVHOHSXHGHSULYDUGHHOOD
E'RVDxRV
F&DUWDGHQDWXUDOH]D
E/HJDO
F3RURWUDSRVWHULRUGHLJXDORVXSHULRUUDQJR
E(O5H\
D)tVLFDV\MXUtGLFDV
E(OGRPLFLOLR
E'HUHFKRVXEMHWLYR
D/DPD\RUtDGHHGDG
D /DV OH\HV VLHPSUH HQWUDQ HQ YLJRU D ORV YHLQWH GtDV GH VX SXEOLFDFLyQ HQ HO
%ROHWtQ2ILFLDOGHO(VWDGR
E/HJDOUHDO\HOHFWLYR

E(OQDFLPLHQWR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HUHFKRSRVLWLYR
EGtDV
F%LODWHUDO
F(VWiSURKLELGDVLHOORSHUMXGLFDDOUHR
D/DV&RUWHV*HQHUDOHV
F$QWHOD-XULVGLFFLyQ&RQWHQFLRVRDGPLQLVWUDWLYD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&2167,78&,1(63$f2/$,(6758&785$<&$5$&7(5(6'(/$
&2167,78&,1(63$f2/$'(/269$/25(6'(/$&2167,78&,1/26
35,1&,3,26'(/5e*,0(1&2167,78&,21$/(67$'2'(02&57,&2(67$'2
'('(5(&+2(67$'262&,$/021$548$3$5/$0(17$5,$<(67$'2
$872120,67$/26'(5(&+26<'(%(5(6)81'$0(17$/(6(67$%/(&,'26(1
/$&2167,78&,1(63(&,$/5()(5(1&,$$/26'(5(&+26)81'$0(17$/(6
</,%(57$'(63%/,&$6$6&202$/$6*$5$17$6'(/260,6026<$/$
6863(16,1'('(5(&+26</,%(57$'(6(/'()(1625'(/38(%/2
/RVYDORUHVVXSHULRUHVGHORUGHQDPLHQWRMXUtGLFRFRQWHPSODGRVHQOD&RQVWL
WXFLyQ(VSDxRODVRQ
D/LEHUWDGMXVWLFLDLJXDOGDG\SOXUDOLVPRSROtWLFR
E/LEHUWDGHTXLGDGMXVWLFLDHLJXDOGDG
F/LEHUWDGMXVWLFLDLJXDOGDG\SOXUDOLVPRMXUtGLFR
(QWUHORVFDUDFWHUHVGHODDFWXDO&RQVWLWXFLyQ(VSDxRODILJXUDHOGHVHU
D)iFLOGHUHIRUPDU
E,PSUHFLVDGHMDQGRVXGHVDUUROORDOH\HVSRVWHULRUHV
F&RUWDGHFRQWHQLGR
(O'HIHQVRUGHO3XHEOR
D6yORSXHGHDFWXDUDLQVWDQFLDGHSDUWHLQWHUHVDGD
E*R]DGHODSUHUURJDWLYDGHLQYLRODELOLGDG
F(VHOHJLGRSDUDXQPDQGDWRGHFXDWURDxRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'yQGHVHKDFHUHIHUHQFLDDORV'HUHFKRV+XPDQRVHQOD&RQVWLWXFLyQ(V
SDxROD"
D(QHO7tWXOR3ULPHUR'HUHFKRV\GHEHUHVIXQGDPHQWDOHV
E(QOD6HFFLyQ3ULPHUDGHO&DStWXOR6HJXQGRGHO7tWXOR3ULPHUR'HORV'HUHFKRV\
GHEHUHVGHORVFLXGDGDQRV
F(QOD6HFFLyQ6HJXQGDGHO&DStWXOR6HJXQGRGHO7tWXOR3ULPHUR'HORVGHUHFKRV\
/D&RQVWLWXFLyQ(VSDxRODVHGLYLGHHQXQDSDUWHGRJPiWLFD\RWUDRUJiQLFD
VHxDOHORV7tWXORVTXHDEDUFDFDGDXQDUHVSHFWLYDPHQWH
D/DGRJPiWLFDORV7tWXORV3UHOLPLQDU\3ULPHURODRUJiQLFDGHO6HJXQGRDO'pFLPR
E/DGRJPiWLFDHO7tWXOR3UHOLPLQDUODRUJiQLFDWRGRVORVGHPiV
F/DGRJPiWLFDORVWUHVSULPHURVODRUJiQLFDGHO&XDUWRDO'pFLPR
/D5HIRUPDGHOD&RQVWLWXFLyQ(VSDxRODVHFRQWHPSODHQHO7tWXOR
D2FWDYR
E1RYHQR
F'pFLPR
1XHVWUD&RQVWLWXFLyQHVWDEOHFHTXHODIRUPDSROtWLFDGH(VSDxDHV
D/DGHPRFUDFLDRUJiQLFD
E/D0RQDUTXtDSDUODPHQWDULD
F/D0RQDUTXtDDEVROXWD
5HVSHFWRDO3UHiPEXORGHOD&RQVWLWXFLyQ(VSDxRODSRGHPRVGHFLUTXH
D$OQRLQFOXLUVHHQHODUWLFXODGRGHOD&RQVWLWXFLyQQRIRUPDSDUWHGHODPLVPD
E(VHOOODPDGRSyUWLFRGHOD&RQVWLWXFLyQSHURVXFRQWHQLGRQRREOLJD
F(VWiGHQWURGHODSDUWHGRJPiWLFDGHOD&RQVWLWXFLyQ\HVGHREOLJDGRFXPSOLPLHQWR
&RQFUHWDPHQWHODPLVLyQGHGHIHQGHUODLQWHJULGDGWHUULWRULDOGH(VSDxDHVWi
JDUDQWL]DGDFRQVWLWXFLRQDOPHQWHSRU
D/DV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
E/DV)XHU]DV$UPDGDVFRQVWLWXLGDVSRUORV(MpUFLWRVGH7LHUUD0DU\$LUH
F7RGDVODV)XHU]DV3ROLFLDOHV(VWDWDOHV$XWRQyPLFDV\/RFDOHV
6HJ~QOD&RQVWLWXFLyQ(VSDxROD\VHxDODGDPHQWHVXDUWtFXORUHVSHFWRDO
LGLRPDFDVWHOODQRWRGRVORVHVSDxROHVWHQHPRV
D(OGHUHFKRDFRQRFHUOR\HOGHEHUGHXVDUOR
E(OGHUHFKRGHFRQRFHUOR\XVDUOR
F(OGHEHUGHFRQRFHUOR\HOGHUHFKRDXVDUOR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D&RQVWLWXFLyQ(VSDxRODUHFRQRFHFRPRGHUHFKRIXQGDPHQWDOHOVHFUHWR
GHODVFRPXQLFDFLRQHVSHURHQFDVRQHFHVDULRTXLpQSXHGHVXVSHQGHUOR"
D/D$XWRULGDG$GPLQLVWUDWLYD
E/D$XWRULGDG-XGLFLDO
F/D$XWRULGDG$XWRQyPLFD
(O'HIHQVRUGHO3XHEOR
D5HSUHVHQWDDWRGRVORVFLXGDGDQRVDQWHHO7ULEXQDO&RQVWLWXFLRQDO
E'HILHQGHORVLQWHUHVHVGHOD$GPLQLVWUDFLyQDQWHHO7ULEXQDO6XSUHPR
F(VXQ&RPLVLRQDGRGHODV&RUWHV*HQHUDOHVTXHGHILHQGHORVGHUHFKRV\GHEHUHV
IXQGDPHQWDOHVFRQWHPSODGRVHQOD&RQVWLWXFLyQ(VSDxROD
'XUDQWHHOHVWDGRGHH[FHSFLyQQRSXHGHVXVSHQGHUVHHOGHUHFKR
D$OVHFUHWRHQODVFRPXQLFDFLRQHVWHOHIyQLFDV
E$ODDVLVWHQFLD/HWUDGDDOGHWHQLGR
F6HSXHGHQVXVSHQGHUWRGRVORVGHUHFKRV
(VREOLJDWRULDODDILOLDFLyQDXQ6LQGLFDWR"
D6t
E1R
F'HSHQGHGHODUDPDGHSURGXFFLyQHQTXHVHWUDEDMH
4XLpQSXHGHGHFODUDUHQVXFDVRHOHVWDGRGHVLWLR"
D(O*RELHUQRFRQDXWRUL]DFLyQGHO&RQJUHVRGHORV'LSXWDGRV\GHO6HQDGR
E/DV&RUWHV*HQHUDOHV
F/DPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRVDSURSXHVWDH[FOXVLYDGHO*RELHUQR
(O'HIHQVRUGHO3XHEORHVQRPEUDGRPHGLDQWH
D/H\RUGLQDULD
E/H\RUJiQLFD
F5HDO'HFUHWR
/D&RQVWLWXFLyQ(VSDxRODKDFHPHQFLyQH[SUHVDDOD'HFODUDFLyQGH'HUH
FKRV+XPDQRVHQVX
D7tWXOR3UHOLPLQDU
E7tWXOR3ULPHUR
F7tWXOR6HJXQGR
6HJ~QOD&RQVWLWXFLyQ(VSDxRODODGHWHQFLyQSUHYHQWLYDHQ(VSDxDGHEH
GXUDU
D&LQFRGtDV
E6HWHQWD\GRVKRUDV
F(OWLHPSRHVWULFWDPHQWHQHFHVDULRSDUDHOHVFODUHFLPLHQWRGHORVKHFKRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QQXHVWUD&RQVWLWXFLyQTXpU~EULFDOOHYDOD6HFFLyQ3ULPHUDGHO&DStWXOR
6HJXQGRGHO7tWXOR3ULPHUR"
D'HODVJDUDQWtDVGHODVOLEHUWDGHV\GHORVGHUHFKRVIXQGDPHQWDOHV
E'HORVGHUHFKRVIXQGDPHQWDOHV\GHODVOLEHUWDGHVS~EOLFDV
F'HORVGHUHFKRV\GHEHUHVGHORVFLXGDGDQRV
(QFXDQWRDOGHUHFKRDODOLEHUWDGLGHROyJLFDUHOLJLRVD\GHFXOWROD&RQVWL
WXFLyQ(VSDxRODHVWDEOHFHXQDOLPLWDFLyQHQWUHODVVLJXLHQWHVVHxiOHOD
D/DSURWHFFLyQGHODLQWLPLGDGSHUVRQDO
E(OPDQWHQLPLHQWRGHORUGHQS~EOLFR
F/DSURWHFFLyQIDPLOLDU\GHODSURSLDLPDJHQ
6HJ~QQXHVWUD&RQVWLWXFLyQHOSULQFLSLRTXHLQVSLUDFRPRH[LJHQFLDODH[
WUDGLFLyQHVHOGHOD
D5HFLSURFLGDG
E&RPSHWHQFLD
F6REHUDQtD
8QD SHUVRQD GHWHQLGD EDMR HO HVWDGR GH H[FHSFLyQ SXHGH VHU REOLJDGD D
GHFODUDU
D6yORFXDQGRVHWUDWHGHGHOLWRVUHODFLRQDGRVFRQEDQGDVDUPDGDVRHOHPHQWRVWH
UURULVWDV
E&XDQGRVHWUDWHGHGHOLWRVFRQWUDODVHJXULGDGGHO(VWDGR
F1XQFDXQDSHUVRQDGHWHQLGDSXHGHVHUREOLJDGDDGHFODUDU
4XpHVWDGRVGHDQRUPDOLGDGFLXGDGDQDSXHGHGHFODUDUHO*RELHUQRFRQV
WLWXFLRQDOPHQWH"
D/RVHVWDGRVGHDODUPD\H[FHSFLyQ
E6yORHOHVWDGRGHVLWLR
F/RVHVWDGRVGHDODUPD\H[FHSFLyQ
%DMRTXpFODVHGHOH\VHUHJXODHOGHUHFKRDODOLEHUWDGGHH[SUHVLyQ
D2UJiQLFD
E2UGLQDULD
F0DUFR
&XiQGRVHSXHGHVXVSHQGHUHOGHUHFKRDODOLEHUWDGGHUHVLGHQFLD\FLUFX
ODFLyQ"
D'XUDQWHODYLJHQFLDGHFXDOTXLHUDGHORVHVWDGRVGHDODUPDH[FHSFLyQRVLWLR
E6yORGXUDQWHHOHVWDGRGHH[FHSFLyQ
F'XUDQWHODYLJHQFLDGHORVHVWDGRVGHH[FHSFLyQ\VLWLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDSRGHUFHOHEUDUXQDPDQLIHVWDFLyQSRUODYtDS~EOLFDKD\TXHVROLFLWDU
DXWRUL]DFLyQSUHYLD
D$O'HOHJDGRRHQVXFDVRDO6XEGHOHJDGRGHO*RELHUQRFRPSHWHQWHHQODORFDOLGDG
E$O$OFDOGHGHODORFDOLGDGGRQGHVHSUHWHQGDFHOHEUDU
F1RVHQHFHVLWDDXWRUL]DFLyQSUHYLD
6HxDOHTXp7tWXORVGHOD&RQVWLWXFLyQWUDWDQUHVSHFWLYDPHQWHGHOD&RURQD
\GHO7ULEXQDO&RQVWLWXFLRQDO
D,,\,;
E,,,\9,,
F,\9,,,
/D&RQVWLWXFLyQHVSDxRODHV
D5tJLGDRWRUJDGDEUHYHVHPiQWLFDQRUPDWLYD
E)OH[LEOHSRSXODUH[WHQVDQRUPDWLYDUtJLGD
F([WHQVDSRSXODUQRUPDWLYDUtJLGDFRQVHQVXDGD
/DVQRUPDVUHODWLYDVDORVGHUHFKRVIXQGDPHQWDOHV\DODVOLEHUWDGHVTXHOD
&RQVWLWXFLyQUHFRQRFHVHLQWHUSUHWDUiQGHFRQIRUPLGDGFRQ
D/RVWUDWDGRV\DFXHUGRVLQWHUQDFLRQDOHVTXHVREUHHVDVPDWHULDVKD\DQVLGRUDWLIL
FDGRVSRU(VSDxD
E/D'HFODUDFLyQ8QLYHUVDOGH'HUHFKRV+XPDQRV
6HJ~QOD&RQVWLWXFLyQHVSDxROD
D/RVHVSDxROHVSXHGHQVHUSULYDGRVGHVXQDFLRQDOLGDGSRUODFRPLVLyQGHGHOLWRV
WHUURULVWDV
E /RV HVSDxROHV SXHGHQ VHU VXVSHQGLGRV WHPSRUDOPHQWH GH VX QDFLRQDOLGDG VL VRQ
FRQGHQDGRVPHGLDQWHVHQWHQFLDILUPHSRUGHOLWRVFRQWUDODVHJXULGDGLQWHULRURH[WHULRU
GHO(VWDGR
F1LQJ~QHVSDxROGHRULJHQSXHGHVHUSULYDGRGHVXQDFLRQDOLGDG
/RVGHUHFKRV\OLEHUWDGHVIXQGDPHQWDOHVVHUHFRJHQHQOD&RQVWLWXFLyQHQ
HO7tWXOR
D3UHOLPLQDU
E3ULPHUR&DStWXOR,,
F7HUFHUR&DStWXOR,
/DGHFODUDFLyQGHOHVWDGRGHDODUPDQRVXVSHQGHHOGHUHFKR
D$OKRQRU\DODLQWLPLGDG
E$ODOLEHUWDGSHUVRQDO\GHH[SUHVLyQ
F(OHVWDGRGHDODUPDQRVXVSHQGHQLQJ~QGHUHFKR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RV GHUHFKRV IXQGDPHQWDOHV \ ODV OLEHUWDGHV S~EOLFDV UHFRQRFLGRV HQ HO
DUWtFXOR\OD6HFFLyQ3ULPHUDGHO&DStWXOR6HJXQGRGHO7tWXOR,HVWiQVRPHWLGRV
DXQDJDUDQWtDMXGLFLDOHVGHFLUDXQDPi[LPDSURWHFFLyQSRUORFXDOVXUHJXODFLyQ
VyORHVSRVLEOHPHGLDQWH
D5HDO'HFUHWR
E/H\2UJiQLFD
F/H\2UGLQDULD
4XLpQGHWHUPLQDHOiPELWR\GXUDFLyQGHOHVWDGRGHVLWLR"
D(O*RELHUQR
E/DV&RUWHV*HQHUDOHV
F(O&RQJUHVRGHORV'LSXWDGRV
6HJ~QOD&RQVWLWXFLyQHVSDxRODODQDFLRQDOLGDGVHDGTXLHUHVHFRQVHUYD\
VHSLHUGHGHDFXHUGRFRQ
D/DWHUULWRULDOLGDG
E(OQDFLPLHQWR
F/RHVWDEOHFLGRSRUODOH\
(QWUHODVFLUFXQVWDQFLDVTXHWH[WXDOPHQWHVHxDODHODUWtFXORGHOD&RQV
WLWXFLyQHVSDxRODQRILJXUD
D/DHGDG
E(OVH[R
F/DUHOLJLyQ
/RV GHUHFKRV \ GHEHUHV IXQGDPHQWDOHV TXH JDUDQWL]D OD &RQVWLWXFLyQ VH
UHFRJHQHQORVDUWtFXORV
DDO
EDO
FDO
(QODVPDQLIHVWDFLRQHVDODOLEHUWDGLGHROyJLFDUHOLJLRVD\GHFXOWRVHxDOD
DOJXQDOLPLWDFLyQOD&RQVWLWXFLyQ"
D/DRVWHQWDFLyQS~EOLFDGHFUHHQFLDVFRQWUDULDVDODUHOLJLyQFDWyOLFD
E1RH[LVWHQOLPLWDFLRQHV\DTXHHVXQGHUHFKRFRQVWLWXFLRQDO
F(OPDQWHQLPLHQWRGHORUGHQS~EOLFRSURWHJLGRSRUODOH\
(QWUHORVGHUHFKRVKXPDQRVHOFRQVLGHUDGRPiVLPSRUWDQWHHVHOGHOD
D,JXDOGDG
E/LEHUWDG
F9LGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HVGHHOSXQWRGHYLVWDUHOLJLRVR(VSDxDHVRILFLDOPHQWH
D&DWyOLFD
E$FRQIHVLRQDO
F&ULVWLDQD
/DOLEHUWDGLGHROyJLFDLPSOLFDTXH
D/RVSRGHUHVS~EOLFRVSUHVWDUiQD\XGDHVSHFLDODODUHOLJLyQFDWyOLFDSRUVHUODPD
\RULWDULD
E7RGRVSXHGHQDILOLDUVHDOSDUWLGRTXHGHVHHQ
F1DGLHSXHGHVHUREOLJDGRDGHFODUDUVREUHVXLGHRORJtDUHOLJLyQRFUHHQFLDV
(ODUWtFXORGHOD&RQVWLWXFLyQHVSDxRODUHFRQRFHHOGHUHFKRDODOLEHUWDG
\DOD
D,QWHJULGDGItVLFD
E5HOLJLyQ
F6HJXULGDG
(QTXpHOHFFLRQHVSXHGHYRWDUXQH[WUDQMHURSHUWHQHFLHQWHDXQSDtVGHOD
8QLyQ(XURSHDUHVLGHQWHHQXQDORFDOLGDGHVSDxROD"
D(QODVHOHFFLRQHV0XQLFLSDOHV
E(QODVHOHFFLRQHVDO3DUODPHQWR(XURSHR
(OGHUHFKRDOVHFUHWRGHODVFRPXQLFDFLRQHVGHIRUPDJHQHUDOVHSXHGH
VXVSHQGHUSRU
D'HFLVLyQGHOD$XWRULGDG*XEHUQDWLYD
E5HVROXFLyQMXGLFLDO
F6yORHQFDVRVGHWHUURULVPR
$FWXDOPHQWHVHSXHGHDSOLFDUODSHQDGHPXHUWHHQ(VSDxDEDMRDOJXQD
FLUFXQVWDQFLD"
D3RUGHOLWRVGHWHUURULVPRVLKD\YtFWLPDVPRUWDOHV
E3RUODVOH\HVSHQDOHVPLOLWDUHVHQWLHPSRGHJXHUUD
F(QODDFWXDOLGDGQRVHSXHGHDSOLFDUHQQLQJ~QFDVR
/D&RQVWLWXFLyQSURKtEHWD[DWLYDPHQWHODWRUWXUD\ORVWUDWRVLQKXPDQRVR
GHJUDGDQWHVFRQFUHWDPHQWHHQHODUWtFXOR
D
E
F
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUH ORV YDORUHV VXSHULRUHV GHO RUGHQDPLHQWR MXUtGLFR TXH SURFODPD OD
&RQVWLWXFLyQHVSDxRODILJXUD
D(OSOXUDOLVPRMXUtGLFR
E/DHTXLGDG
F/DLJXDOGDG
/D3RQHQFLDHQFDUJDGDGHUHGDFWDUHOSUR\HFWRGH&RQVWLWXFLyQVHGHVLJQyHQ
D(O&RQJUHVRGHORV'LSXWDGRV
E(O6HQDGR
F(O*RELHUQR
4XHOD&RQVWLWXFLyQ(VSDxRODVHDUtJLGDVLJQLILFD
D4XHWRGRVORVFLXGDGDQRVWLHQHQORVPLVPRVGHUHFKRV
E4XHODDSOLFDFLyQGHVXVSUHFHSWRVKDGHVHULQPHGLDWD
F4XHHVGLItFLOPHQWHPRGLILFDEOH
3DUDSRGHUUHDOL]DUHQWUDGDVRUHJLVWURVHQGRPLFLOLRVHVQHFHVDULR
D$XWRUL]DFLyQMXGLFLDOHQWRGRVORVFDVRV
E$XWRUL]DFLyQMXGLFLDORFRQVHQWLPLHQWRGHOWLWXODU
F$XWRUL]DFLyQMXGLFLDO\FRQVHQWLPLHQWRGHOWLWXODU
(O -XH] SRGUi DFRUGDU HQ UHVROXFLyQ PRWLYDGD OD REVHUYDFLyQ GH ODV FR
PXQLFDFLRQHV SRVWDOHV WHOHJUiILFDV R WHOHIyQLFDV GH ODV SHUVRQDV VREUH ODV TXH
H[LVWDQ LQGLFLRV GH UHVSRQVDELOLGDG FULPLQDO SRU SOD]R R SOD]RV SURUURJDEOHV SRU
LJXDOHVSHUtRGRVGHKDVWD
D8QPHV
E'RVPHVHV
F7UHVPHVHV
'HHQWUHODVVLJXLHQWHVVHxDOHODDILUPDFLyQTXHVHDIDOVD
D1DGLHSXHGHVHUGHWHQLGRVLQRHQYLUWXGGHOH\DQWHULRUDOGHOLWRFRPHWLGR
E1DGLHSXHGHVHUVRPHWLGRDWRUWXUDQLPDORVWUDWRV
F([LVWHOLEHUWDGLGHROyJLFD\UHOLJLRVD/DSUiFWLFDGHFXDOTXLHUUHOLJLyQHVWiSHUPLWLGD
GHELHQGRGHFODUDUVHODFUHHQFLDTXHVHSURIHVH
(QORTXHVHUHILHUHDOGRPLFLOLRGRQGHYLYHXQLQGLYLGXRODQRUPDMXUtGLFD
WUDWDGHSURWHJHU
D/DYLYLHQGD
E/DSURSLHGDG
F(OGHUHFKRGHOLQGLYLGXRDYLYLUOLEUH\VHJXURHQVXPRUDGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVOLEHUWDGHVGHLQIRUPDFLyQ\H[SUHVLyQHQFXHQWUDQOtPLWHVHVSHFLDOHVHQ
D/DFRQFLHQFLDLQGLYLGXDO
E(OVHFUHWRGHODVFRPXQLFDFLRQHV
F/DSURWHFFLyQGHODMXYHQWXG\GHODLQIDQFLD
6HGHEHSHGLUDXWRUL]DFLyQSUHYLDSDUDFHOHEUDUXQDPDQLIHVWDFLyQHQXQ
OXJDUGHWUiQVLWRS~EOLFR"
D6tKD\TXHSHGLUOD
E1RVHQHFHVLWDDXWRUL]DFLyQSUHYLDVyORFRPXQLFDFLyQDOD$XWRULGDGFRPSHWHQWH
F7RGDVODVPDQLIHVWDFLRQHVHQODYtDS~EOLFDQHFHVLWDQDXWRUL]DFLyQ
$JRWDGDODYtDMXGLFLDOFyPRVHWXWHODQORVGHUHFKRVIXQGDPHQWDOHV"
D3RUHO&RQJUHVRGHORV'LSXWDGRV
E$QWHHO7ULEXQDO&RQVWLWXFLRQDO
F$QWHHO7ULEXQDO6XSUHPR
/DOLPLWDFLyQGHOXVRGHODLQIRUPiWLFDHVWiSUHYLVWDFRPR
D*DUDQWtDGHODLQWLPLGDGSHUVRQDO\IDPLOLDUGHORVFLXGDGDQRV
E'HUHFKRIUHQWHDODUHFRSLODFLyQGHGDWRVSRUOD$GPLQLVWUDFLyQS~EOLFD
F)UHQRDXQDH[FHVLYDEXURFUDWL]DFLyQGHODYLGDS~EOLFD
6HJ~QOD/H\2UJiQLFDGHGHMXOLRVHFRQVLGHUDUHXQLyQDODFRQ
FXUUHQFLDFRQFHUWDGD\WHPSRUDOGHSHUVRQDVFRQXQDILQDOLGDGGHWHUPLQDGD\HQ
Q~PHURGHPiVGH
D4XLQFH
E9HLQWH
F9HLQWLFLQFR
(OHMHUFLFLRGHOGHUHFKRGHUHXQLyQ
D5HTXLHUHDXWRUL]DFLyQSUHYLD
E6HHMHUFHVHJ~QGLVSRQHHO5HJLVWURGH$VRFLDFLRQHV
F1RUHTXLHUHDXWRUL]DFLyQSUHYLD
(OGHUHFKRDODOLEHUWDGGHUHVLGHQFLDFRQWHPSODGRHQOD&RQVWLWXFLyQHVSD
xRODSXHGHOLPLWDUVH
D(QQLQJ~QFDVRVHSXHGHOLPLWDU
E'XUDQWHODYLJHQFLDGHORVHVWDGRVGHH[FHSFLyQ\VLWLR
F3RUGHOLWRVLGHROyJLFRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVDVRFLDFLRQHVFRQVWLWXLGDVDODPSDURGHODUWtFXORGHOD&RQVWLWXFLyQ
(VSDxRODGHEHUiQLQVFULELUVHHQHO5HJLVWURFUHDGRSDUDHOORDORVVRORVHIHFWRVGH
D&RQWUROILVFDO
E&RQRFLPLHQWRGHVRFLRV
F3XEOLFLGDG
6HSXHGHSURKLELUFHOHEUDUXQDPDQLIHVWDFLyQ"
D6tFXDQGRVHFHOHEUHHQOXJDUHVGHPXFKRWUiQVLWRS~EOLFR
E(QQLQJ~QFDVRVHSXHGHSURKLELUSRUVHUXQGHUHFKRFRQVWLWXFLRQDO
F6tFXDQGRH[LVWDQUD]RQHVIXQGDGDVGHDOWHUDFLyQGHORUGHQS~EOLFRFRQSHOLJURSDUD
SHUVRQDVRELHQHV
/DLQWURPLVLyQLOHJDOHQODYLGDSULYDGDGHDOJXLHQDWHQWDFRQWUDHOGHUHFKR
D$OKRQRU
E$ODSURSLDLPDJHQ
F$ODLQWLPLGDG
4XpDUWtFXORGHOD&RQVWLWXFLyQUHFRQRFHHOGHUHFKRDODWXWHODHIHFWLYDGH
ORVMXHFHV\WULEXQDOHVHQHOHMHUFLFLRGHVXVGHUHFKRVHLQWHUHVHVOHJtWLPRVVLQ
TXHHQQLQJ~QFDVRSXHGDSURGXFLUVHLQGHIHQVLyQ"
D
E
F
/D&RQVWLWXFLyQGLFHTXHORVFLXGDGDQRVWLHQHQHOGHUHFKRDSDUWLFLSDUHQ
ORVDVXQWRVS~EOLFRV
D'LUHFWDPHQWH
E3RUPHGLRGHVXVOHJtWLPRVUHSUHVHQWDQWHV
F'HDPEDVIRUPDV
/DVDVRFLDFLRQHVSRGUiQVHUGLVXHOWDVSRUUHVROXFLyQ
D'HO0LQLVWURGHO,QWHULRU
E-XGLFLDOPRWLYDGD
F'HO'HOHJDGRGHO*RELHUQR
(ODUWtFXORGHOD&RQVWLWXFLyQFRQWHPSODTXH
D/DHQVHxDQ]DEiVLFDHVREOLJDWRULD\JUDWXLWD
E6HUHFRQRFHODDXWRQRPtDGHODV8QLYHUVLGDGHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHOFRQWURO\JHVWLyQGHORVFHQWURVGHHQVHxDQ]DVRVWHQLGRVSRUOD$G
PLQLVWUDFLyQFRQIRQGRVS~EOLFRVSXHGHQLQWHUYHQLU
D/RVSURSLRVDOXPQRV\ORVSDGUHVGHORVDOXPQRV
E/RVSURIHVRUHV
F7RGRVORVDQWHULRUHV
(OHQXQFLDGRFRQVWLWXFLRQDOGHODUWtFXORHVHO3ULQFLSLRGH
D,JXDOGDG
E5HFLSURFLGDG
F/HJDOLGDG
(QTXpHVWDGRGHDQRUPDOLGDGFLXGDGDQDVHSXHGHVXSULPLUHOFRQWHQLGR
GHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxROD"
D(QHOHVWDGRGHDODUPD
E(QHOHVWDGRGHH[FHSFLyQ
F(QHOHVWDGRGHVLWLR
(OHVWDGRGHH[FHSFLyQSRGUiVHUGHFODUDGRSRUHO*RELHUQRSUHYLDDXWRUL
]DFLyQ
D'HO6HQDGR
E'HO&RQJUHVRGHORV'LSXWDGRV
F'HODV&RUWHV*HQHUDOHV
(ODUWtFXORGHOD&RQVWLWXFLyQSURKtEH
D/RV7ULEXQDOHVGH+RQRUHQHOiPELWRGHOD$GPLQLVWUDFLyQFLYLO
E$OD$GPLQLVWUDFLyQFLYLOODLPSRVLFLyQGHVDQFLRQHVTXHGLUHFWDRLQGLUHFWDPHQWH
LPSOLTXHQSULYDFLyQGHOLEHUWDG
F/DFHQVXUDSUHYLD
/DFHQVXUDSUHYLDVyORSRGUiHVWDEOHFHUVH
D(QQLQJ~QFDVR
E&XDQGRDVtORGLVSRQJDOD$XWRULGDGJXEHUQDWLYD
F&XDQGRDVtORGLVSRQJDOD$XWRULGDGMXGLFLDO
3XHGHOD$GPLQLVWUDFLyQLPSRQHUVDQFLRQHVSULYDWLYDVGHOLEHUWDG"
D6tVLHPSUH
E6LORDXWRUL]DXQDOH\
F1XQFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOGHHVWDVDILUPDFLRQHVHVIDOVD"
D7RGRVORVKLMRVVRQLJXDOHVDQWHODOH\
E6HUHFRQRFHHOGHUHFKRDODSURSLHGDGSULYDGD
F/DDILOLDFLyQVLQGLFDOHVREOLJDWRULDSDUDWRGRVORVWUDEDMDGRUHVHQDFWLYR
(QWUHORVGHUHFKRVGHOGHWHQLGRUHFRQRFLGRVOHJDOPHQWHQRILJXUDHOGH
D6HUDVLVWLGRSRU/HWUDGRGHVLJQDGRSRUHOGHWHQLGRRELHQGHRILFLR
E5HDOL]DUSHUVRQDOPHQWHXQDOODPDGDWHOHIyQLFD
F6HULQIRUPDGRGHORVPRWLYRVGHVXGHWHQFLyQ
(ODUWtFXORGHOD&RQVWLWXFLyQHVSDxRODGLFH
D7RGRVORVHVSDxROHVWLHQHQHOGHUHFKRDOWUDEDMRDODOLEUHHOHFFLyQGHSURIHVLyQX
RILFLRDODSURPRFLyQDWUDYpVGHOWUDEDMR\DXQDUHPXQHUDFLyQVXILFLHQWHSDUDVDWLVIDFHU
VXVQHFHVLGDGHV\ODVGHVXIDPLOLDVLQTXHHQQLQJ~QFDVRSXHGDKDFHUVHGLVFULPLQDFLyQ
SRUUD]yQGHVH[R
E7RGRVORVHVSDxROHVWLHQHQHOGHEHUGHWUDEDMDU\HOGHUHFKRDOWUDEDMRDODOLEUH
HOHFFLyQGHSURIHVLyQXRILFLRDODSURPRFLyQDWUDYpVGHOWUDEDMR\DXQDUHPXQHUDFLyQ
VXILFLHQWHSDUDVDWLVIDFHUVXVQHFHVLGDGHV\ODVGHVXIDPLOLDVLQTXHHQQLQJ~QFDVRSXHGD
KDFHUVHGLVFULPLQDFLyQSRUUD]yQGHVH[R
F/DOH\UHJXODUiXQ(VWDWXWRGHORV7UDEDMDGRUHV
&RPRFRQVHFXHQFLDGHODVROLFLWXGGHO+DEHDV&RUSXVSRUXQGHWHQLGROD
3ROLFtDHVWDUiGHLQPHGLDWRREOLJDGDD
D3RQHUORHQOLEHUWDG
E'DUFRQRFLPLHQWRDOD$XWRULGDG-XGLFLDOTXLHQGHFLGLUiORSURFHGHQWH
F7UDVODGDUORGHLQPHGLDWRDQWHHO-XH]GH*XDUGLD
,QGtTXHVHFXiOGHODVVLJXLHQWHVSURSRVLFLRQHVHVIDOVD
D6yORHO&RQJUHVRSXHGHDSUREDURUHFKD]DUXQDPRFLyQGHFHQVXUDRGHFRQILDQ]D
E6yORHO&RQJUHVR\HO6HQDGRSXHGHQDSUREDURGHURJDUORVGHFUHWRVOH\HVGLFWDGRV
SRUHO*RELHUQRHQFDVRVGHH[WUDRUGLQDULD\XUJHQWHQHFHVLGDG
F(O6HQDGRHVOD&iPDUDGHUHSUHVHQWDFLyQWHUULWRULDO
/RVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDSRGUiQHMHUFHUHOGHUHFKR
GHSHWLFLyQ"
D,QGLYLGXDOPHQWHVtSXHGHQKDFHUORFRQDUUHJORDVXOHJLVODFLyQHVSHFtILFD
E&ROHFWLYDPHQWHVHJ~QVX5HJODPHQWRSURSLR
F,QGLYLGXDO\FROHFWLYDPHQWHSRUHVFULWRWDPELpQVHJ~QVX5HJODPHQWR
6HJ~QOD&RQVWLWXFLyQHOVLVWHPDWULEXWDULRHVSDxROVHLQVSLUDHQORVSULQ
FLSLRVGH
D&RQILVFDFLyQ\SURSRUFLRQDOLGDG
E,JXDOGDGVHJ~QODVUHQWDV
F,JXDOGDG\SURJUHVLYLGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O/HWUDGRTXHDVLVWHDXQGHWHQLGRHQXQD'HSHQGHQFLDSROLFLDOSXHGHKD
EODUFRQpVWH
D$QWHVGHOLQWHUURJDWRULR
E$FRQVHMDUOHGXUDQWHHOLQWHUURJDWRULRORTXHWLHQHTXHFRQWHVWDU
F'HVSXpVGHOLQWHUURJDWRULR\VLORGHVHDHQSULYDGR
5HVSHFWRDOGHUHFKRGHSHWLFLyQUHFRJLGRHQOD&RQVWLWXFLyQVHxDOHODUHV
SXHVWDFRUUHFWD
D(OGHUHFKRGHSHWLFLyQORSXHGHQHMHUFHULQGLYLGXDORFROHFWLYDPHQWHWRGRVORVHV
SDxROHVVLQH[FHSFLyQ
E(OGHUHFKRGHSHWLFLyQORSXHGHQHMHUFHULQGLYLGXDORFROHFWLYDPHQWHSRUHVFULWR
WRGRVORVHVSDxROHVVLQH[FHSFLyQ
F/RVPLHPEURVGHODV)XHU]DVR,QVWLWXWRVDUPDGRVSRGUiQHMHUFHUHVWHGHUHFKRVyOR
LQGLYLGXDOPHQWH\FRQDUUHJORDORGLVSXHVWRHQVXOHJLVODFLyQHVSHFtILFD
6HJ~QHODUWtFXORGHOD&RQVWLWXFLyQ6yORSRGUiQHVWDEOHFHUVHSUHV
WDFLRQHVSHUVRQDOHVRSDWULPRQLDOHVGHFDUiFWHUS~EOLFR
D&RQDUUHJORDODOH\
E6LDVtORRUGHQDHO$OFDOGHGHODORFDOLGDG
F&XDQGRWHQJDQXQDOFDQFHFRQILVFDWRULR
&RQUHIHUHQFLDDODSURSLHGDGSULYDGD\DODKHUHQFLDTXHUHFRJHHOWH[WR
FRQVWLWXFLRQDOVHxDOHORTXHVHDFRUUHFWR
D/DIXQFLyQVRFLDOGHHVWRVGHUHFKRVGHOLPLWDUiVXFRQWHQLGR
E1DGLHSRGUiVHUSULYDGRGHVXVELHQHV\GHUHFKRVVLQRSRUFDXVDMXVWLILFDGDGHXWLOL
GDGS~EOLFDRLQWHUpVVRFLDOPHGLDQWHODFRUUHVSRQGLHQWHLQGHPQL]DFLyQ\GHFRQIRUPLGDG
FRQORGLVSXHVWRSRUODVOH\HV
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQFLHUWDV
&XDOTXLHUH[SURSLDFLyQIRU]RVDKDGHEDVDUVHHQFDXVDMXVWLILFDGDGH
D&RQYHQLHQFLDXUEDQD
E8WLOLGDGS~EOLFDRLQWHUpVVRFLDO
/DVPDWHULDVGHOD&RQVWLWXFLyQ(VSDxRODFRPSUHQGLGDVHQHO7tWXOR,&DSt
WXORV\VHGHVDUUROODQPHGLDQWH
D/H\RUJiQLFD
E/H\RUGLQDULD
F/H\GHEDVHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DGHIHQVDGHORUGHQDPLHQWRFRQVWLWXFLRQDOVHDWULEX\HSRUODSURSLD&RQV
WLWXFLyQ
D$ODV)XHU]DV$UPDGDV
E$O7ULEXQDO&RQVWLWXFLRQDO
F$ODV)XHU]DV\&XHUSRVGH6HJXULGDG
/DREMHFLyQGHFRQFLHQFLDHVWiSURWHJLGDFRQVWLWXFLRQDOPHQWHSRUHO
D5HFXUVRGHDPSDUR
E5HFXUVRGHLQFRQVWLWXFLRQDOLGDG
F'HIHQVRUGHO3XHEOR
/DSUHVXQFLyQGHLQRFHQFLDVXSRQH
D4XHWRGDSHUVRQDHVLQRFHQWHPLHQWUDVQRVHGHPXHVWUHORFRQWUDULR
E4XHSDUDGHPRVWUDUODLQRFHQFLDKD\TXHSUREDUOD
F4XHSDUDVHUFRQGHQDGRHVLPSUHVFLQGLEOHGHFODUDUVHFXOSDEOH
6HJ~QOD&RQVWLWXFLyQHOHVWDGRGHVLWLRVHUiGHFODUDGRSRUHO&RQJUHVRGH
ORV'LSXWDGRVDSURSXHVWDH[FOXVLYDGHO*RELHUQRSHURTXpWLSRGHPD\RUtDHV
QHFHVDULDHQHO&RQJUHVRSDUDVXDSUREDFLyQ"
D6LPSOH
E5HODWLYD
F$EVROXWD
/DGHIHQVD\JDUDQWtDGHORVGHUHFKRV\OLEHUWDGHVFRQVWLWXFLRQDOHVVHSXH
GHHMHUFLWDUDQWH
D(O'HIHQVRUGHO3XHEOR
E/RV-XHFHV\7ULEXQDOHV
F7RGRV\FXDOTXLHUDGHHOORV
6HxDOHODDILUPDFLyQLQFRUUHFWDGHOFRQWHQLGRFRQVWLWXFLRQDO
D(ODUWGHOD&(UHFRQRFHTXHWRGRVWLHQHQGHUHFKRDGLVIUXWDUGHOPHGLRDPELHQWH
DGHFXDGRSDUDHOGHVDUUROORGHODSHUVRQDDVtFRPRHOGHEHUGHFRQVHUYDUOR
E(QHODUWGHOD&(VHVHxDODTXHORVSRGHUHVS~EOLFRVYHODUiQSRUODXWLOL]DFLyQ
UDFLRQDO GH WRGRV ORV UHFXUVRV QDWXUDOHV FRQ HO ILQ GH SURWHJHU \ PHMRUDU OD FDOLGDG GH
YLGD\GHIHQGHU\UHVWDXUDUHOPHGLRDPELHQWHDSR\iQGRVHHQODLQGLVSHQVDEOHVROLGDULGDG
FROHFWLYD
F(QHODUWGHOD&(VHGLFHTXHSDUDORVTXHYLROHQORGLVSXHVWRHQHODSDUWDGR
DQWHULRUHQORVWpUPLQRVTXHODOH\ILMHVHHVWDEOHFHUiQVDQFLRQHVSHQDOHVRHQVXFDVR
DGPLQLVWUDWLYDVDVtFRPRODREOLJDFLyQGHUHSDUDUHOGDxRFDXVDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6H UHFRJH HQ OD &RQVWLWXFLyQ OD REOLJDFLyQ GH ORV SRGHUHV S~EOLFRV GH
PDQWHQHUXQUpJLPHQS~EOLFRGH6HJXULGDG6RFLDOSDUDWRGRVORVFLXGDGDQRVTXH
JDUDQWLFHODDVLVWHQFLD\SUHVWDFLRQHVVRFLDOHVVXILFLHQWHVDQWHVLWXDFLRQHVGHQH
FHVLGDGHVSHFLDOPHQWHHQFDVRGHGHVHPSOHRVLHQGROLEUHVODDVLVWHQFLD\SUHV
WDFLRQHVFRPSOHPHQWDULDV"
D6tHQHODUWtFXOR
E6tHQHODUWtFXOR
F1LQJXQDFRQWHVWDFLyQDQWHULRUHVFLHUWD
/RVGHUHFKRV\OLEHUWDGHVTXHUHFRQRFHOD&RQVWLWXFLyQ
D6HSRGUiQVXVSHQGHUWRGRVVLVHGHFODUDHOHVWDGRGHH[FHSFLyQ
E3XHGHQVHUVXVSHQGLGRVSRUHO*RELHUQRRtGRHO&RQVHMRGH0LQLVWURV
F6HSRGUiQVXVSHQGHUWRGRVH[FHSWRORVFRQWHQLGRVHQHODUWFXDQGRVHGHFODUH
HOHVWDGRGHH[FHSFLyQ
$FRUGDGDODGHFODUDFLyQGHOHVWDGRGHH[FHSFLyQHQXQDSURYLQFLDTXLpQ
SXHGHVXVSHQGHUHOGHUHFKRDODKXHOJD"
D(O0LQLVWURGHO,QWHULRURHOGH'HIHQVD
F1LQJXQRGHORVDQWHULRUHVSXHGHVXVSHQGHUOR
/DVSUHVWDFLRQHVSHUVRQDOHVGHFDUiFWHUS~EOLFRVHSRGUiQHVWDEOHFHU
D&XDQGRDVtORGLVSRQJDXQDOH\
E1RSXHGHGLVSRQHUORQLQJXQDOH\
F(QWRGRVORVFDVRV
)UHQWH D VLWXDFLRQHV GH FDWiVWURIHV QDWXUDOHV FDODPLGDGHV R GHVJUDFLDV
S~EOLFDVGHJUDQPDJQLWXGVHSXHGHGHFUHWDUHOHVWDGRGH
D([FHSFLyQ
E$ODUPD
F6LWLR
/DOH\VXSUHPDGHQWURGHORUGHQDPLHQWRMXUtGLFRHVSDxROHV
D/D/H\GH(QMXLFLDPLHQWR&ULPLQDO
E/D/H\GH+iEHDV&RUSXV
F/D&DUWD0DJQD
&yPRVHSXHGHGLVROYHUXQD$VRFLDFLyQ"
D3RUUHVROXFLyQMXGLFLDOPRWLYDGD
E3RUSHUVHJXLUILQHVGLVWLQWRVDORVHVWDEOHFLGRV
F3RUHO0LQLVWHULR)LVFDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'XUDQWHOD7UDQVLFLyQODQRUPDTXHFRQVLJXLyHVWDEOHFHUODVEDVHVSDUD
HO DGYHQLPLHQWR GH XQ VLVWHPD GHPRFUiWLFR \ TXH VH OOHJDVH FRQ WRGR HOOR D ODV
SULPHUDVHOHFFLRQHVJHQHUDOHVIXH
D/D/H\SDUDOD5HIRUPD3ROtWLFD
E/D/H\TXHHVWDEOHFLyOD&RURQDHQODSHUVRQDGH'-XDQ&DUORV,
F/D/H\GH3DUWLGRV3ROtWLFRV
(QWUHODVFDUDFWHUtVWLFDVTXHSRGHPRVVHxDODUGHOD&RQVWLWXFLyQHVSDxR
ODGHVWDFDQ
D6XVPHFDQLVPRVGHPRGLILFDFLyQQRVRQUtJLGRV
E(VGHPRFUiWLFD
F1XHVWUD&RQVWLWXFLyQQRVHLQVSLUDHQRWURVPRGHORV
3DUDVHUFRQGHQDGRRVDQFLRQDGRHVSUHFLVR
D6HUGHWHQLGRSUHYLDPHQWH
E+DEHUVHGHFODUDGRFXOSDEOH
F4XHXQDOH\KD\DGHFODUDGRSUHYLDPHQWHHVDDFFLyQFRPRFRQGHQDEOHRVDQFLRQDEOH
$XQDSHUVRQDGHWHQLGDFXDQGRVHOHDSOLFDODLQFRPXQLFDFLyQ
D6HOHDXPHQWDHOSOD]RGHGHWHQFLyQHQKRUDVPiV
E6HOHVXSULPHHOGHUHFKRDODDVLVWHQFLDOHWUDGD
F6HOHQRPEUDUi$ERJDGRGHRILFLR
/D&RQVWLWXFLyQFRQWHPSODHO+DEHDV&RUSXVFRPRXQDLQVWLWXFLyQSDUD
JDUDQWL]DU
D/DOLEHUWDGSHUVRQDODQWHXQDGHWHQFLyQVXSXHVWDPHQWHDUELWUDULD
E(OGHUHFKRDOKRQRU
F(OVHFUHWRGHODFRUUHVSRQGHQFLD
(QFXiOGHORVVLJXLHQWHVVXSXHVWRVVHSRGUiHQWUDUHQXQGRPLFLOLRSDU
WLFXODUVLQSHUPLVRGHOWLWXODUQLDXWRUL]DFLyQMXGLFLDO"
D6LVHVRVSHFKDTXHHQVXLQWHULRUVHHQFXHQWUDXQSHUVHJXLGRSRUOD-XVWLFLD
E6LVHWLHQHODFHUWH]DGHTXHHQHVHGRPLFLOLRVHHVFRQGHQHIHFWRVGHOGHOLWR
F(QFDVRGHIODJUDQWHGHOLWR
(QOD&RQVWLWXFLyQ(VSDxRODVHFRQWHPSODTXHHQHOFRQWURO\JHVWLyQGH
WRGRVORVFHQWURVGRFHQWHVVRVWHQLGRVSRUOD$GPLQLVWUDFLyQFRQIRQGRVS~EOLFRV
LQWHUYHQGUiQ
D/RV&RQVHMRV(VFRODUHV
E/RV3URIHVRUHV
F7RGRVORVPHQFLRQDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(ODUWtFXORGHOD&RQVWLWXFLyQQRVHUHILHUHD
D/DSUHVXQFLyQGHLQRFHQFLD
E/DLQGHIHQVLyQ
F/DSDUWLFLSDFLyQGHORVFLXGDGDQRVHQORVDVXQWRVS~EOLFRV
1RVHSXHGHVXVSHQGHUFXDQGRVHGHFODUHHOHVWDGRGHDODUPDHOGHUHFKR
D$ODOLEHUWDG\VHJXULGDGSHUVRQDO
E$ODLQYLRODELOLGDGGHOGRPLFLOLR
F1LQJ~QGHUHFKRSXHGHVHUVXVSHQGLGR
(ODUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODJDUDQWL]DODOLEHUWDGGHH[SUH
VLyQHQEDVHDHOORTXLpQSXHGHRUGHQDUHOVHFXHVWURGHXQDSXEOLFDFLyQ"
D(O'HOHJDGRGHO*RELHUQRHQOD&RPXQLGDG$XWyQRPDGHTXHVHWUDWH
E/D$XWRULGDG-XGLFLDOFRPSHWHQWH
F(O3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDFRUUHVSRQGLHQWH
/DOLEHUWDGGHFiWHGUDFRQVLVWHHQ
D/DIDFXOWDGGHDFFHGHUDFiWHGUDVSRURSRVLFLyQ
E/DSRVLELOLGDGGHWRGRSURIHVRUGHH[SRQHUVXVDEHUFLHQWtILFRVLQOLPLWDFLRQHV
F/DGHVLJQDFLyQOLEUHGHFDWHGUiWLFRVSRUSDUWHGHO*RELHUQR
(OPDQGDWRGHO'HIHQVRUGHO3XHEORTXpGXUDFLyQWLHQH"
D&LQFRDxRV
E&LQFRDxRVUHQRYDEOHV
F&XDWURDxRV
3RUTXpOD&RQVWLWXFLyQ(VSDxRODHVUtJLGD"
D3RUVXH[WHQVRDUWLFXODGR
E3RUVXGLItFLOUHIRUPD
F3RUVHUGHREOLJDGRFXPSOLPLHQWR
/RVYDORUHVVXSHULRUHVGHORUGHQDPLHQWRMXUtGLFRHVSDxROVRQ
D/DOLEHUWDGODMXVWLFLDODLJXDOGDG\HOSOXUDOLVPRSROtWLFR
E/DOLEHUWDGHOSOXUDOLVPRSROtWLFR\ODLJXDOGDG
F/DMXVWLFLDODLJXDOGDGODOLEHUWDGUHOLJLRVD\HOSOXUDOLVPRMXUtGLFR
&XiQGR VH SXHGHQ VXVSHQGHU DOJXQRV GHUHFKRV IXQGDPHQWDOHV GH OD
&RQVWLWXFLyQ(VSDxROD"
D(QORVHVWDGRVGHDODUPD\H[FHSFLyQ
E(QORVHVWDGRVGHDODUPD\VLWLR
F(QORVHVWDGRVGHH[FHSFLyQ\VLWLR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVGHUHFKRV\GHEHUHVIXQGDPHQWDOHVUHFRJLGRVHQOD&RQVWLWXFLyQ(VSD
xRODVHEDVDQHQ
D/D'HFODUDFLyQ8QLYHUVDOGH'HUHFKRV+XPDQRV
E(O7UDWDGRGHOD8QLyQ(XURSHDR7UDWDGRGH0DDVWULFKW
F(QOD&RQVWLWXFLyQ(VSDxRODGH
(QDOJ~QFDVRVHSXHGHQVXVSHQGHUGHUHFKRVIXQGDPHQWDOHV"
D1RHQQLQJ~QFDVR
E6tSRUODGHFODUDFLyQGHORVHVWDGRVGHH[FHSFLyQRGHVLWLR
F6tSRUODGHFODUDFLyQGHOHVWDGRGHDODUPD
/DH[SRVLFLyQGHORVPRWLYRVLGHROyJLFRVTXHLQVSLUDQOD&RQVWLWXFLyQ(V
SDxRODVHUHFRJHHQ
D(O3UHiPEXOR
E(O7tWXOR3UHOLPLQDU
F(O7tWXOR3ULPHUR
/RVH[WUDQMHURVSRGUiQYRWDUHQODVHOHFFLRQHVJHQHUDOHVHQ(VSDxD"
D1RHQQLQJ~QFDVR
E3XHGHQYRWDU\VHUHOHJLEOHV
F3XHGHQYRWDU\VHUHOHJLGRV\HOHJLEOHV
(QHOHVWDGRGHVLWLR
D(O*RELHUQRDVXPHWRGDVODVIDFXOWDGHVH[WUDRUGLQDULDVSUHYLVWDVHQOD&RQVWLWXFLyQ
\HQODVOH\HVVLHPSUHTXHKD\DQVLGRLQFOXLGDVHQODGHFODUDFLyQTXHDOHIHFWRKDFHHO
&RQJUHVRGHORV'LSXWDGRV
E(O*RELHUQRGHVLJQDUiODDXWRULGDGPLOLWDUTXHHMHFXWHODVPHGLGDVTXHSURFHGDQ
VLHPSUHEDMRODGLUHFFLyQGHDTXpO
/DUHGDFFLyQGHO3UR\HFWRGH/H\&RQVWLWXFLRQDOHVWXYRDFDUJRGH
D(O*RELHUQRGH$GROIR6XiUH]
E(O7ULEXQDO&RQVWLWXFLRQDO
F8QD3RQHQFLD&RQVWLWXFLRQDOQRPEUDGDDOHIHFWRHQODV&RUWHV*HQHUDOHV
(QOD&RQVWLWXFLyQ(VSDxRODVHPDUFDH[SOtFLWDPHQWHFRPROtPLWHSDUDHO
HMHUFLFLRGHOGHUHFKRDODOLEHUWDGGHH[SUHVLyQHOUHVSHWR
D$OGHUHFKRDIRUPDUXQDIDPLOLD\DOWUDEDMR
E$ODLQWLPLGDGSHUVRQDO\DODSURSLDLPDJHQ
F$XQDYLYLHQGDGLJQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QTXpVXSXHVWRVVHSRGUiSURKLELUODHQWUDGDRVDOLGDGH(VSDxDGHXQ
FLXGDGDQRHVSDxRO"
D6yORHQFDVRGHGHOLWRVSROtWLFRV
E(QFDVRVGHGHOLWRVGHWHUURULVPR
F(QORVFDVRVHQTXHDVtORGLVSRQJDQODVOH\HV
/DOLEHUWDGGHHPSUHVD
D6HUHFRQRFHHQOD&RQVWLWXFLyQ(VSDxRODHQHOPDUFRGHODHFRQRPtDGHPHUFDGR
E/DUHFRQRFHQXHVWUD&RQVWLWXFLyQHQHOPDUFRGHODHFRQRPtDFDSLWDOLVWD
F6HUHFRQRFHHQHOPDUFRGHODSODQLILFDFLyQHFRQyPLFDHVWDWDOGHDFXHUGRFRQOD
&RQVWLWXFLyQ
8QDFRQVHFXHQFLDOyJLFDGHODQHJRFLDFLyQFROHFWLYDHQWUHWUDEDMDGRUHV\
HPSUHVDULRVFX\RFDUiFWHUYLQFXODQWHJDUDQWL]DOD&RQVWLWXFLyQHV
D(OFRQIOLFWRFROHFWLYR
E(O&RQYHQLR&ROHFWLYR
F/DFRQYRFDWRULDGHKXHOJD
/DHOHFFLyQGHOFDUJRGH'HIHQVRUGHO3XHEORVHHIHFW~DSRU
D(O5H\
E(O*RELHUQR
F/DV&RUWHV*HQHUDOHV
/RRSXHVWRDXQD&RQVWLWXFLyQFRQVXHWXGLQDULDHVXQD&RQVWLWXFLyQ
D5tJLGD
E(VFULWD
F)OH[LEOH
(OHVWDGRDODUPDVHUiGHFODUDGRSRUHO*RELHUQRDWUDYpVGH
D/H\RUJiQLFD
E/H\RUGLQDULD
F'HFUHWRDFRUGDGRHQ&RQVHMRGH0LQLVWURV
/D&RQVWLWXFLyQIXHDSUREDGDSRUHOSXHEORHVSDxROHQUHIHUpQGXPHO
DGHGLFLHPEUHGH
EGHGLFLHPEUHGH
FGHGLFLHPEUHGH
/D&RQVWLWXFLyQHVSDxRODVHSXEOLFyHQHO%ROHWtQ2ILFLDOGHO(VWDGRHO
DGHGLFLHPEUHGH
EGHGLFLHPEUHGH
FGHGLFLHPEUHGH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiQWRVDUWtFXORVWLHQHOD&RQVWLWXFLyQ(VSDxROD"
D
E
F
7UDVHO3UHiPEXORVHLQLFLDHODUWLFXODGRGHOD&RQVWLWXFLyQHQHOTXHVH
SXHGHQGLVWLQJXLUGRVSDUWHV
D8QDGRJPiWLFD\RWUDSUiFWLFD
E8QDGRJPiWLFD\RWUDRUJiQLFD
F8QDRUJiQLFD\RWUDLQRUJiQLFD
/RVGHUHFKRVGHUHXQLyQ\PDQLIHVWDFLyQVyORSXHGHQSURKLELUVH
D&XDQGRVHUHDOLFHQHQOXJDUHVGHWUiQVLWRS~EOLFR
E(QQLQJ~QFDVRVHSXHGHSURKLELUHVWHGHUHFKR
F6LQRVHFRPXQLFDSUHYLDPHQWHDOD$XWRULGDGFRPSHWHQWH
/DJDUDQWtDGHORVGHUHFKRV\OLEHUWDGHVVHFRQWHPSODHQHO7tWXOR3ULPHUR
GHOD&RQVWLWXFLyQFRQFUHWDPHQWHHQ
D(O&DStWXOR&XDUWR
E(O&DStWXOR4XLQWR
F/D6HFFLyQ6HJXQGDGHO&DStWXOR6HJXQGR
/DIRUPDSROtWLFDGHO(VWDGR(VSDxROVHJ~QOD&RQVWLWXFLyQHV
D(O(VWDGRGHODV$XWRQRPtDV
E/D0RQDUTXtD3DUODPHQWDULD
F(O(VWDGRVRFLDO\GHPRFUiWLFRGH'HUHFKR
/RV7ULEXQDOHVGH+RQRU
D/RVSURKtEHH[SUHVDPHQWHOD&RQVWLWXFLyQ(VSDxRODVyORHQHOiPELWRGHOD$GPLQLV
WUDFLyQPLOLWDU
E6yORVHGDQHQHOiPELWRFDVWUHQVHHQFDVRGHJXHUUD
F/RVSURKtEHQXHVWUD&RQVWLWXFLyQHQHOiPELWRGHOD$GPLQLVWUDFLyQFLYLO\GHODVRU
JDQL]DFLRQHVSURIHVLRQDOHV
(QWUHORVGHUHFKRVSURWHJLGRVSRUHOUHFXUVRGHDPSDURHQQXHVWUD&RQV
WLWXFLyQQRVHHQFXHQWUD
D(OGHODSURSLHGDGSULYDGD\ODKHUHQFLD
E(OGHSDUWLFLSDUHQORVDVXQWRVS~EOLFRV
F(OGHODOLEHUWDGGHH[SUHVLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiQWRVPLHPEURVIRUPDURQSDUWHGHOD3RQHQFLD&RQVWLWXFLRQDOTXHHOD
ERUyHODQWHSUR\HFWRGHODYLJHQWH&RQVWLWXFLyQ(VSDxROD"
D6LHWH
E2FKR
F1XHYH
&RQIRUPH D ORV FULWHULRV FRQVWLWXFLRQDOHV ORV H[WUDQMHURV UHVLGHQWHV HQ
XQDORFDOLGDGHVSDxRODSXHGHQJR]DUGHOGHUHFKRDOVXIUDJLR
D$FWLYRHQODVHOHFFLRQHVPXQLFLSDOHV
E$FWLYRHQODVHOHFFLRQHVJHQHUDOHV\DO3DUODPHQWR(XURSHR
F$FWLYR\SDVLYRHQODVHOHFFLRQHVPXQLFLSDOHV\DO3DUODPHQWR(XURSHR
(QODWRPDGHGHFODUDFLRQHVSROLFLDOHVORVPDORVWUDWRVItVLFRVRSVtTXLFRV
D(VWiQSURKLELGRVVLHPSUH
E(VWiQWROHUDGRVFXDQGRVHWUDWHGHLQGLYLGXRVWHUURULVWDV
F(VWiQWROHUDGRVEDMRHOHVWDGRGHVLWLR
/D7UDQVLFLyQ3ROtWLFD(VSDxRODFRPLHQ]D
D&RQODDSUREDFLyQGHOD&RQVWLWXFLyQGH
E&RQODSURFODPDFLyQFRPR5H\GH(VSDxDGH'RQ-XDQ&DUORVGH%RUEyQHOGH
QRYLHPEUHGH
(OGHGLFLHPEUHGHOD&RQVWLWXFLyQ(VSDxROD
D(VSURPXOJDGD\VDQFLRQDGDSRUHO5H\HQHO&RQJUHVRGHORV'LSXWDGRV
E6HSXEOLFDHQHO%ROHWtQ2ILFLDOGHO(VWDGR
F(QWUyHQYLJRU
1XHVWUD&RQVWLWXFLyQFRQVWDGH
DDUWtFXORV
E(O3UHiPEXORXQ7tWXOR3UHOLPLQDU\RQFH7tWXORVPiVGLYLGLGRVHQ&DStWXORV\6HF
FLRQHV
F&XDWUR'LVSRVLFLRQHV7UDQVLWRULDVQXHYH$GLFLRQDOHVXQD'HURJDWRULD\XQD)LQDO
/D6HFFLyQGHO&DStWXOR,,GHO7tWXOR,GHOD&RQVWLWXFLyQ(VSDxRODVH
UXEULFDFRPR
D'HUHFKRV\GHEHUHVGHORVFLXGDGDQRV
E'HODVJDUDQWtDVGHODVOLEHUWDGHV\GHORVGHUHFKRVIXQGDPHQWDOHV
F'HORVGHUHFKRVIXQGDPHQWDOHV\GHODVOLEHUWDGHVS~EOLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpOLPLWDFLyQHVWDEOHFHHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODUHV
SHFWRGHOGHUHFKRDODOLEHUWDGLGHROyJLFDUHOLJLRVD\GHFXOWR"
D(OPDQWHQLPLHQWRGHORUGHQS~EOLFR
E4XHKDGHOOHYDUVHDFDERFRQFDUiFWHULQGLYLGXDO
F/DSURWHFFLyQGHODLQWLPLGDGSHUVRQDO\IDPLOLDU\GHODSURSLDLPDJHQ
&XiQWRWLHPSRGHEHGXUDUODGHWHQFLyQSUHYHQWLYDVHJ~QHODUWtFXOR
GHOD&RQVWLWXFLyQ(VSDxROD"
D6HWHQWD\GRVKRUDV
E&LHQWRYHLQWHKRUDV
([LVWHDFWXDOPHQWHHQ(VSDxDODSHQDGHPXHUWH"
D6t
E1R
F6yORHQHO&yGLJR3HQDO0LOLWDU
(OSULQFLSLRTXHLPSHUDHQODH[WUDGLFLyQVHJ~QHVWDEOHFHOD&RQVWLWXFLyQ
(VSDxRODHVHOGH
D&RPSHWHQFLD
E5HFLSURFLGDG
F6REHUDQtD
(Q(VSDxDODOH\TXHUHJXODHOGHUHFKRDODOLEHUWDGGHH[SUHVLyQHV
D8QDOH\RUJiQLFD
E8QDOH\RUGLQDULD
F8Q5HDOGHFUHWR
(OVHFUHWRGHODVFRPXQLFDFLRQHVHVXQGHUHFKRIXQGDPHQWDODPSDUDGRHQ
OD&RQVWLWXFLyQPHGLDQWHTXHGLVSRVLFLyQSXHGHVXVSHQGHUVH"
D5HVROXFLyQDGPLQLVWUDWLYD
E'LVSRVLFLyQGHXQDOH\HVWDWDO
F5HVROXFLyQMXGLFLDOPRWLYDGD
(QHOFDVRGHWHQHUTXHVRPHWHUDMXLFLRDO'HIHQVRUGHO3XHEORGyQGH
VHOOHYDUtDDFDER"
D(QOD$XGLHQFLD1DFLRQDO
E(QOD6DOD3ULPHUDGHO7ULEXQDO6XSUHPR
F(QOD6DOD6HJXQGDGHO7ULEXQDO6XSUHPR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O'HIHQVRUGHO3XHEORFXDQGRUHFLEHXQDTXHMDFLXGDGDQDSRUPDOIXQFLR
QDPLHQWRGHOD$GPLQLVWUDFLyQGH-XVWLFLDDTXLpQGHEHGDUFXHQWD"
D$O0LQLVWHULR)LVFDO
E$O&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F$ODV&RUWHV*HQHUDOHV
/D&RQVWLWXFLyQ(VSDxRODQRJDUDQWL]D
D/DSXEOLFLGDGGHODVQRUPDV
E/DLUUHWURDFWLYLGDGGHWRGDQRUPDMXUtGLFD
F/DUHVSRQVDELOLGDG\ODLQWHUGLFFLyQGHODDUELWUDULHGDGGHORVSRGHUHVS~EOLFRV
$QWHXQFRQIOLFWRGHFRPSHWHQFLDVHQWUHHO(VWDGR\ODV&RPXQLGDGHV$X
WyQRPDVFRQRFH
D(O7ULEXQDO6XSUHPR
E(O6HQDGR\DTXHHVOD&iPDUDGHUHSUHVHQWDFLyQWHUULWRULDO
(O7tWXOR6H[WRGHOD&RQVWLWXFLyQ(VSDxRODWUDWDGH
E(O3RGHU-XGLFLDO
F/D&RURQD
/RVGHUHFKRV\GHEHUHVGHORVFLXGDGDQRVVHKDOODQFRQWHQLGRVHQQXHVWUD
&RQVWLWXFLyQHQ
D(O7tWXOR3ULPHUR
E(QHO7tWXOR3UHOLPLQDU
F(QODSDUWHRUJiQLFD
/D&RPXQLGDG$XWyQRPDVHUiHOiPELWRWHUULWRULDOGH
D/DV$XGLHQFLDV3URYLQFLDOHV
E/RV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
F/RV-X]JDGRVGHOR&RQWHQFLRVRDGPLQLVWUDWLYR
6HJ~QHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODQRIRUPDQSDUWHGHOD
RUJDQL]DFLyQWHUULWRULDOGHO(VWDGR
D/DV&RPXQLGDGHV$XWyQRPDV
E/DV&RPDUFDV
F/DV3URYLQFLDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~Q OD &RQVWLWXFLyQ (VSDxROD OD VXVSHQVLyQ LQGLYLGXDOL]DGD SDUD GH
WHUPLQDGDVSHUVRQDVGHOOtPLWHRUGLQDULRGHOWLHPSRGHODGHWHQFLyQSUHYHQWLYDH
LQYLRODELOLGDGGHGRPLFLOLR\FRUUHVSRQGHQFLD
D6yORVHSXHGHDFRUGDUHQORVVXSXHVWRVGHGHFODUDFLyQGHOHVWDGRGHH[FHSFLyQR
GHVLWLR
E6yORVHSXHGHDFRUGDUHQUHODFLyQFRQODDFWXDFLyQHQODLQYHVWLJDFLyQGHEDQGDV
DUPDGDV\HOHPHQWRVWHUURULVWDV
F6yORVHSXHGHDFRUGDUUHVSHFWRGHORVH[WUDQMHURVQRUHVLGHQWHVHQQXHVWURSDtV
/DVOH\HVPDUFRVRQGLFWDGDVSRU
D3RUHO*RELHUQR
E3RUODV&RUWHV*HQHUDOHV
F3RUODV&RPXQLGDGHV$XWyQRPDV

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
D/DGRJPiWLFDORV7tWXORV3UHOLPLQDU\3ULPHURODRUJiQLFDORV7tWXORVGHO6HJXQGR
DO'pFLPR
F'pFLPR
E/DPRQDUTXtDSDUODPHQWDULD
E(VHOOODPDGRSyUWLFRGHOD&RQVWLWXFLyQSHURVXFRQWHQLGRQRREOLJD
E/DV)XHU]DV$UPDGDVFRQVWLWXLGDSRUORV(MpUFLWRVGH7LHUUD0DU\$LUH
F(OGHEHUGHFRQRFHUOR\HOGHUHFKRDXVDUOR
E/D$XWRULGDG-XGLFLDO
F(VXQ&RPLVLRQDGRGHODV&RUWHV*HQHUDOHVTXHGHILHQGHORVGHUHFKRV\GHEH
UHVIXQGDPHQWDOHVFRQWHPSODGRVHQOD&RQVWLWXFLyQ(VSDxROD
E$ODDVLVWHQFLD/HWUDGDDOGHWHQLGR
E1R
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRVDSURSXHVWDH[FOXVLYDGHO*R
ELHUQR
E/H\RUGLQDULD
E7tWXOR3ULPHUR
E'HORVGHUHFKRVIXQGDPHQWDOHV\GHODVOLEHUWDGHVS~EOLFDV
E(OPDQWHQLPLHQWRGHORUGHQS~EOLFR
D5HFLSURFLGDG
F1XQFDXQDSHUVRQDGHWHQLGDSXHGHVHUREOLJDGDDGHFODUDU
F/RVHVWDGRVGHDODUPD\H[FHSFLyQ
D2UJiQLFD
F'XUDQWHODYLJHQFLDGHORVHVWDGRVGHH[FHSFLyQ\VLWLR
F1RVHQHFHVLWDDXWRUL]DFLyQSUHYLD
D,,\,;
F([WHQVDSRSXODUQRUPDWLYDUtJLGDFRQVHQVXDGD
F1LQJ~QHVSDxROGHRULJHQSXHGHVHUSULYDGRGHVXQDFLRQDOLGDG
E3ULPHUR&DStWXOR,,
F(OHVWDGRGHDODUPDQRVXVSHQGHQLQJ~QGHUHFKR
E/H\2UJiQLFD
F/RHVWDEOHFLGRSRUODOH\
D/DHGDG
DDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F(OPDQWHQLPLHQWRGHORUGHQS~EOLFRSURWHJLGRSRUODOH\
F9LGD
E$FRQIHVLRQDO
F1DGLHSXHGHVHUREOLJDGRDGHFODUDUVREUHVXLGHRORJtDUHOLJLyQRFUHHQFLDV
F6HJXULGDG
E5HVROXFLyQMXGLFLDO
F(QODDFWXDOLGDGQRVHSXHGHDSOLFDUHQQLQJ~QFDVR
D
F/DLJXDOGDG
F4XHHVGLItFLOPHQWHPRGLILFDEOH
E$XWRUL]DFLyQMXGLFLDORFRQVHQWLPLHQWRGHOWLWXODU
F7UHVPHVHV
F([LVWHOLEHUWDGLGHROyJLFD\UHOLJLRVD/DSUiFWLFDGHFXDOTXLHUUHOLJLyQHVWiSHUPL
WLGDGHELHQGRGHFODUDUVHODFUHHQFLDTXHVHSURIHVH
F(OGHUHFKRGHOLQGLYLGXRDYLYLUOLEUH\VHJXURHQVXPRUDGD
F/DSURWHFFLyQGHODMXYHQWXG\GHODLQIDQFLD
E1RVHQHFHVLWDDXWRUL]DFLyQSUHYLDVyORFRPXQLFDFLyQDOD$XWRULGDGFRPSH
WHQWH
E$QWHHO7ULEXQDO&RQVWLWXFLRQDO
D*DUDQWtDGHODLQWLPLGDGSHUVRQDO\IDPLOLDUGHORVFLXGDGDQRV
E9HLQWH
F1RUHTXLHUHDXWRUL]DFLyQSUHYLD
E'XUDQWHODYLJHQFLDGHORVHVWDGRVGHH[FHSFLyQ\VLWLR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F3XEOLFLGDG
F6tFXDQGRH[LVWDQUD]RQHVIXQGDGDVGHDOWHUDFLyQGHORUGHQS~EOLFRFRQSHOLJUR
SDUDSHUVRQDVRELHQHV
F$ODLQWLPLGDG
D
F'HDPEDVIRUPDV
E-XGLFLDOPRWLYDGD
F7RGRVORVDQWHULRUHV
F/HJDOLGDG
F(QHOHVWDGRGHVLWLR
D/RV7ULEXQDOHVGH+RQRUHQHOiPELWRGHOD$GPLQLVWUDFLyQFLYLO
D(QQLQJ~QFDVR
F1XQFD
F/DDILOLDFLyQVLQGLFDOHVREOLJDWRULDSDUDWRGRVWUDEDMDGRUHVHQDFWLYR
F/DOH\UHJXODUiXQ(VWDWXWRGHORV7UDEDMDGRUHV
E'DUFRQRFLPLHQWRDOD$XWRULGDG-XGLFLDOTXLHQGHFLGLUiORSURFHGHQWH
E6yORHO&RQJUHVR\HO6HQDGRSXHGHQDSUREDURGHURJDUORVGHFUHWRVOH\HVGLF
WDGRVSRUHO*RELHUQRHQFDVRVGHH[WUDRUGLQDULD\XUJHQWHQHFHVLGDG
D,QGLYLGXDOPHQWHVtSXHGHQKDFHUORFRQDUUHJORDVXOHJLVODFLyQHVSHFtILFD
F,JXDOGDG\SURJUHVLYLGDG
F/RVPLHPEURVGHODV)XHU]DVR,QVWLWXWRVDUPDGRVSRGUiQHMHUFHUHVWHGHUHFKR
VyORLQGLYLGXDOPHQWH\FRQDUUHJORDORGLVSXHVWRHQVXOHJLVODFLyQHVSHFtILFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D&RQDUUHJORDODOH\
D/H\RUJiQLFD
D$ODV)XHU]DV$UPDGDV
D5HFXUVRGHDPSDUR
D4XHWRGDSHUVRQDHVLQRFHQWHPLHQWUDVQRVHGHPXHVWUHORFRQWUDULR
F$EVROXWD
F7RGRV\FXDOTXLHUDGHHOORV
D(ODUWtFXORGHOD&(UHFRQRFHTXHWRGRVWLHQHQGHUHFKRDGLVIUXWDUGHXQPH
GLRDPELHQWHDGHFXDGRSDUDHOGHVDUUROORGHODSHUVRQDDVtFRPRHOGHEHUGHFRQVHUYDUOR
F1LQJXQDFRQWHVWDFLyQDQWHULRUHVFLHUWD
F6HSRGUiQVXVSHQGHUWRGRVH[FHSWRORVFRQWHQLGRVHQHODUWtFXORFXDQGR
VHGHFODUHHOHVWDGRGHH[FHSFLyQ
F1LQJXQRGHORVDQWHULRUHVSXHGHVXVSHQGHUOR
D&XDQGRDVtORGLVSRQJDXQDOH\
E$ODUPD
F/D&DUWD0DJQD
D3RUUHVROXFLyQMXGLFLDOPRWLYDGD
E(VGHPRFUiWLFD
F4XHXQDOH\KD\DGHFODUDGRSUHYLDPHQWHHVDDFFLyQFRPRFRQGHQDEOHRVDQ
FLRQDEOH
F6HOHQRPEUDUi$ERJDGRGHRILFLR
D/DOLEHUWDGSHUVRQDODQWHXQDGHWHQFLyQVXSXHVWDPHQWHDUELWUDULD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E&LQFRDxRVUHQRYDEOHV
E3RUVXGLItFLOUHIRUPD
D/DOLEHUWDGODMXVWLFLDODLJXDOGDG\HOSOXUDOLVPRSROtWLFR
F(QORVHVWDGRVGHH[FHSFLyQ\VLWLR
D/D'HFODUDFLyQ8QLYHUVDOGH'HUHFKRV+XPDQRV
E6tSRUODGHFODUDFLyQGHORVHVWDGRVGHH[FHSFLyQRGHVLWLR
D(O3UHiPEXOR
D1RHQQLQJ~QFDVR
F8QD3RQHQFLD&RQVWLWXFLRQDOQRPEUDGDDOHIHFWRHQODV&RUWHV*HQHUDOHV
E$ODLQWLPLGDGSHUVRQDO\DODSURSLDLPDJHQ
F(QORVFDVRVHQTXHDVtORGLVSRQJDQODVOH\HV
D6HUHFRQRFHHQOD&RQVWLWXFLyQ(VSDxRODHQHOPDUFRGHODHFRQRPtDGHPHU
FDGR
E(O&RQYHQLR&ROHFWLYR
F/DV&RUWHV*HQHUDOHV
E(VFULWD
F'HFUHWRDFRUGDGRHQ&RQVHMRGH0LQLVWURV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
EGHGLFLHPEUHGH
FGHGLFLHPEUHGH
F
E8QDGRJPiWLFD\RWUDRUJiQLFD
F6LQRVHFRPXQLFDSUHYLDPHQWHDOD$XWRULGDGFRPSHWHQWH
D(O&DStWXOR&XDUWR
E/D0RQDUTXtD3DUODPHQWDULD
F/RVSURKtEHQXHVWUD&RQVWLWXFLyQHQHOiPELWRGHOD$GPLQLVWUDFLyQFLYLO\GHODV
RUJDQL]DFLRQHVSURIHVLRQDOHV
D(OGHODSURSLHGDGSULYDGD\ODKHUHQFLD
D6LHWH
F$FWLYR\SDVLYRHQODVHOHFFLRQHVPXQLFLSDOHV\DO3DUODPHQWR(XURSHR
D(VWiQSURKLELGRVVLHPSUH
D(VSURPXOJDGD\VDQFLRQDGDSRUHO5H\HQHO&RQJUHVRGHORV'LSXWDGRV
DDUWtFXORV
F'HORVGHUHFKRVIXQGDPHQWDOHV\GHODVOLEHUWDGHVS~EOLFDV
D(OPDQWHQLPLHQWRGHORUGHQS~EOLFR
E1R
E5HFLSURFLGDG
D8QDOH\RUJiQLFD
F5HVROXFLyQMXGLFLDOPRWLYDGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E(O3RGHU-XGLFLDO
D(O7tWXOR3ULPHUR
E/RV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
E/DV&RPDUFDV
E6yORVHSXHGHDFRUGDUHQUHODFLyQFRQODDFWXDFLyQHQODLQYHVWLJDFLyQGHEDQ
GDVDUPDGDV\HOHPHQWRVWHUURULVWDV
E3RUODV&RUWHV*HQHUDOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$&2167,78&,1(63$f2/$,,'(/$&2521$'(/$6&257(6
*(1(5$/(6'(/*2%,(512</$$'0,1,675$&,1'(/$65(/$&,21(6
(175((/*2%,(512</$6&257(6*(1(5$/(6'(/32'(5-8',&,$/
'(/$25*$1,=$&,17(55,725,$/'(/(67$'2'(/75,%81$/
&2167,78&,21$/'(/$5()250$&2167,78&,21$/
(QWUHODVFRPSHWHQFLDVTXHSXHGHQDVXPLUODV&RPXQLGDGHV$XWyQRPDVQR
VHHQFXHQWUD
D/DDVLVWHQFLDVRFLDO
E/DDUWHVDQtD
F/DOHJLVODFLyQODERUDO
7UDVXQDVHOHFFLRQHVJHQHUDOHVTXpSOD]ROHJDOKD\SDUDVHUFRQYRFDGRHO
QXHYR&RQJUHVRGHORV'LSXWDGRV"
D7UHLQWDGtDV
E9HLQWLFLQFRGtDV
F(QWUHWUHLQWD\VHVHQWDGtDV
/D5HLQDFRQVRUWHSRGUiDVXPLUIXQFLRQHVFRQVWLWXFLRQDOHV"
D(O$OWR3DWURQD]JRGHODV5HDOHV$FDGHPLDV
E1RSRGUiDVXPLUIXQFLRQHVFRQVWLWXFLRQDOHVVDOYRORGLVSXHVWRSDUDOD5HJHQFLD
F&RQYRFDUDUHIHUpQGXPHQORVFDVRVSUHYLVWRVHQOD&RQVWLWXFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQSRGUiVHUWXWRUGHO5H\PHQRUGHHGDG"
D/DSHUVRQDPD\RUGHHGDG\HVSDxROGHQDFLPLHQWRTXHHQVXWHVWDPHQWRKXELHVH
QRPEUDGRHO5H\GLIXQWR
E(OSDGUHRODPDGUHHQWRGRFDVR
F6LHPSUHHQSULPHUOXJDUHOTXHGHVLJQHQODV&RUWHV*HQHUDOHV
4XLpQHOLJHDO3UHVLGHQWHGHXQD&RPXQLGDG$XWyQRPD"
D(O&RQVHMRGH*RELHUQRGHODPLVPD&RPXQLGDG$XWyQRPD
E(O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPD
F/D$VDPEOHD/HJLVODWLYDGHODSURSLD&RPXQLGDG$XWyQRPD
(VXQDIDFXOWDGGHORVPLHPEURVGHO*RELHUQR
D3RGHUDFXGLUVRODPHQWHDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRV
E3RGHUDFXGLU~QLFDPHQWHDODVVHVLRQHVGHO6HQDGR
F3RGHUDFXGLUDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRVGHO6HQDGR\DVXV&R
PLVLRQHV
6HJ~QOD&RQVWLWXFLyQ(VSDxRODTXLpQVLPEROL]DODXQLGDG\SHUPDQHQFLD
GHO(VWDGR(VSDxRO"
D(O*RELHUQRGHOD1DFLyQ
E/DV&RUWHV*HQHUDOHV
F(O5H\
(O5H\QRQRPEUD
D$ORV0LQLVWURVGHO*RELHUQR
E$O)LVFDO*HQHUDOGHO(VWDGR
F$O'HIHQVRUGHO3XHEOR
(QVXHMHUFLFLRGHODIXQFLyQFRQVXOWLYDTXpyUJDQRYHODUiSRUODREVHUYDQ
FLDGHOD&RQVWLWXFLyQ(VSDxROD\HOUHVWRGHORUGHQDPLHQWRMXUtGLFR"
E(O&RQVHMRGH(VWDGR
F(O7ULEXQDO6XSUHPR
(QVXFDVR\VHJ~QOD&RQVWLWXFLyQ(VSDxRODTXLpQDUELWUDUtD\PRGHUDUtD
HOIXQFLRQDPLHQWRUHJXODUGHODV,QVWLWXFLRQHV"
D(O3UHVLGHQWHGHO*RELHUQRGHOD1DFLyQ
E(O&RQJUHVRGHORV'LSXWDGRV
F(O5H\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpFRQGLFLRQDODLQWHUSRVLFLyQGHOUHFXUVRGHDPSDUR"
D4XHVHKD\DQDJRWDGRODVYtDVMXGLFLDOHVRUGLQDULDV
E4XHTXLHQORLQWHUSRQJDWHQJDXQLQWHUpVOHJtWLPRHQHODVXQWR
F&XDQGRVHSURGX]FDQODVGRVUHVSXHVWDVDQWHULRUHV
&XDQGRXQ-XH]GHSRUFRQFOXLGRHOVXPDULR\HQHOWLHPSRSDUDGLFWDUVHQ
WHQFLDWHQJDGXGDVGHODFRQVWLWXFLRQDOLGDGGHOSUHFHSWRDDSOLFDUSRGUi
D$SOD]DUSRUWLHPSRDVXOLEUHDUELWULRHOSURQXQFLDPLHQWRGHODVHQWHQFLD
E3RGUiFRQVXOWDUDO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F3RGUiKDFHUXVRGHODOODPDGDFXHVWLyQGHLQFRQVWLWXFLRQDOLGDG
(QODV,VODV&DQDULDV\HQODV%DOHDUHVTXpQRPEUHVXWLOL]DQSDUDGHVLJQDU
VXVyUJDQRVGHDGPLQLVWUDFLyQSURSLRV"
D&RPRHQHOUHVWRGHOWHUULWRULRQDFLRQDO0XQLFLSLRV\'LSXWDFLRQHV
E(Q&DQDULDV&DELOGRV,QVXODUHV\HQ%DOHDUHV&RQVHMRV,QVXODUHV
F1DGDGHORDQWHULRUHVFRUUHFWR
(QODVSURYLQFLDVORV'LSXWDGRV3URYLQFLDOHVVHHOLJHQ
D3RU\GHHQWUHORV&RQFHMDOHVHOHFWRVGHORV0XQLFLSLRVGHOD3URYLQFLD
E/RVGHVLJQDQORVyUJDQRVGHOSDUWLGRTXHKD\DJDQDGRODVHOHFFLRQHVPXQLFLSDOHV
F3RUDFXHUGRHQWUHORV&RQFHMDOHVJDQDGRUHVGHODVHOHFFLRQHVPXQLFLSDOHV
(O7ULEXQDOGH&XHQWDVGHSHQGHGH
D'HO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
E'HODV&RUWHV*HQHUDOHV
F'HO*RELHUQRDWUDYpVGHO0LQLVWHULRGH(FRQRPtD\+DFLHQGD
4XLpQSXHGHFRQYRFDUXQUHIHUpQGXP"
D/DV&RUWHV*HQHUDOHV
E(O5H\
F(O3UHVLGHQWHGHO*RELHUQR
/D-HIDWXUDGHO(VWDGR(VSDxROODRVWHQWD
D(O3UHVLGHQWHGHO*RELHUQR
E(O5H\
F(O&RQVHMRGH(VWDGR
8QDGHODVFDUDFWHUtVWLFDVGHO7ULEXQDO&RQVWLWXFLRQDOHV
D&RQRFHUGHOUHFXUVRGHDPSDUR
E6HUXQyUJDQRLQGHSHQGLHQWH
F/DVGRVUHVSXHVWDVVRQYiOLGDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O7ULEXQDO&RQVWLWXFLRQDO
D7LHQHMXULVGLFFLyQQDFLRQDO\HV~QLFRHQVXRUGHQ
E7LHQHMXULVGLFFLyQRUGLQDULD
F(VWiVRPHWLGRDOFRQWUROGHODV&RUWHV*HQHUDOHV
/DVXVSHQVLyQGHGHUHFKRV\OLEHUWDGHVVHFRQWHPSODQHQOD&RQVWLWXFLyQ
HQHO7tWXOR,&DStWXOR
D3ULPHUR
E7HUFHUR
F4XLQWR
(QQRPEUHGHTXLpQVHGLFWDQORVDFWRVGHO5HJHQWH"
D'HOSURSLR5HJHQWH
E'HO5H\
/D&RQVWLWXFLyQWUDWD'HOD&RURQDHQVX7tWXOR
D,9
E,,,
F,,
3XHGHDVXPLUIXQFLRQHVFRQVWLWXFLRQDOHVOD5HLQDFRQVRUWH"
D6tFXDQGRSDVHDVHU5HJHQWH
E1RSRUTXHQXQFDSXHGHVHUQRPEUDGD5HJHQWH
F6yORSRGUtDDVXPLUODVVLIXHVHHOPLHPEURPiVDQWLJXRGHOD&DVD5HDO
(O3UtQFLSH+HUHGHURSRGUtDHMHUFHUOD5HJHQFLD
D&XDQGRIXHVHPHQRUGHHGDG
E(QFDVRGHLQKDELOLWDFLyQGHO5H\
6LHO5H\VHLQKDELOLWDUHSDUDHOHMHUFLFLRGHVXDXWRULGDGHMHUFHUiOD5H
JHQFLD
D/D5HLQDFRQVRUWH
E(O3UtQFLSHKHUHGHURHQWRGRFDVR
F(O3UtQFLSHKHUHGHURVLIXHVHPD\RUGHHGDG
$TXHOODVSHUVRQDVTXHWHQLHQGRGHUHFKRDODVXFHVLyQHQHOWURQRFRQWUD
MHUHQPDWULPRQLRFRQWUDODH[SUHVDSURKLELFLyQGHO5H\\GHODV&RUWHV*HQHUDOHV
D4XHGDUiQH[FOXLGDVHQODVXFHVLyQDOD&RURQDSRUVt
E4XHGDUiQH[FOXLGDVHQODVXFHVLyQDOD&RURQDSRUVt\VXVGHVFHQGLHQWHV
F1ROHVRFXUULUiQDGDGHORDQWHULRU\DTXHFRQVWLWXFLRQDOPHQWHHVWiUHFRQRFLGDOD
OLEHUWDGSDUDFRQWUDHUPDWULPRQLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDODWUDPLWDFLyQGHXQDSURSRVLFLyQGHOH\SRULQLFLDWLYDSRSXODUVHWR
PDUiHQFXHQWD
D4XHHO*RELHUQRORDXWRULFH
E4XHHO6HQDGRORDFHSWH
F4XHOD0HVDGHO&RQJUHVRGHFLGDVREUHVXDGPLVLELOLGDG
/RVSUR\HFWRVGHUHIRUPDFRQVWLWXFLRQDOGHEHUiQVHUDSUREDGRVHQDPEDV
&iPDUDV&RQJUHVR\6HQDGRSRUXQDPD\RUtD
D$EVROXWD
E6LPSOH
F7UHVTXLQWRV
3XHGHHO5H\SUHVLGLUXQ&RQVHMRGH0LQLVWURV"
D6yORORV&RQVHMRVGHFDUiFWHUHMHFXWLYRQRORVLQIRUPDWLYRV
E3XHGHKDFHUORFXDQGRORFRQVLGHUHQHFHVDULR
F3XHGHKDFHUORFXDQGRORHVWLPHRSRUWXQRDSHWLFLyQGHO3UHVLGHQWHGHO*RELHUQR
'XUDQWHHOWLHPSRTXHPHGLDHQWUHODGLVROXFLyQGHO&RQJUHVRGHORV'LSX
WDGRV\ODFRQVWLWXFLyQGHODQXHYD&iPDUDVXVIXQFLRQHVODVDVXPH
D/D'LSXWDFLyQ3HUPDQHQWH
E/D-XQWDGH3RUWDYRFHVGHORVJUXSRVSDUODPHQWDULRVH[LVWHQWHVDVXGLVROXFLyQ
F/D0HVDVDOLHQWH\OD-XQWDGH3RUWDYRFHV
/DFRQGLFLyQGHPLHPEURGHO7ULEXQDO&RQVWLWXFLRQDOHVLQFRPSDWLEOH
D&RQWRGRPDQGDWRUHSUHVHQWDWLYR\FDUJRVSROtWLFRVRDGPLQLVWUDWLYRVDVtFRPRFRQ
HOHMHUFLFLRGHODVFDUUHUDVMXGLFLDO\ILVFDO\FRQFXDOTXLHUDFWLYLGDGSURIHVLRQDORPHUFDQWLO
E&RQHOGHVHPSHxRGHIXQFLRQHVGLUHFWLYDVHQXQSDUWLGRSROtWLFRRHQXQVLQGLFDWR\
FRQHOHPSOHRDOVHUYLFLRGHORVPLVPRV
F(OFRQWHQLGRGHODVGRVUHVSXHVWDVDQWHULRUHVHVFLHUWR
/DVFRQFOXVLRQHVDODVTXHOOHJXHQODV&RPLVLRQHVGH,QYHVWLJDFLyQ
D9LQFXODQDORV7ULEXQDOHVGH-XVWLFLD
E1RYLQFXODQDORV7ULEXQDOHVGH-XVWLFLD
F6yORYLQFXODQDO*RELHUQR
/DLVODGH)XHUWHYHQWXUDFXiQWRV6HQDGRUHVHOLJH"
D7UHV
E'RV
F8QR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpSRGHUHMHUFHHOFRQWUROVREUHHO7ULEXQDO&RQVWLWXFLRQDO"
D(O-XGLFLDO
E(O(MHFXWLYR
F1LQJXQR
/DOODPDGDFXHVWLyQGHLQFRQVWLWXFLRQDOLGDGODSODQWHDHQVXFDVR
D(O0LQLVWHULR)LVFDO
F(OyUJDQRMXGLFLDOFRPSHWHQWH
(O7ULEXQDO&RQVWLWXFLRQDOHVXQyUJDQRMXULVGLFFLRQDOTXpFDUDFWHUtVWLFDV
GHODVTXHDFRQWLQXDFLyQVHSURSRQHQPHMRUOHGHILQHQ"
D6yORHVWiVRPHWLGRDOD&RQVWLWXFLyQ\DVXOH\UHJXODGRUDVLHQGRHO~QLFRyUJDQR
TXHFDUHFHGHFRQWURO
E (V XQ 7ULEXQDO HVSHFLDO \ VXV VHQWHQFLDV WLHQHQ SOHQRV HIHFWRV HUJD RPQHV HV
GHFLUIUHQWHDWRGRV\WLHQHQHOYDORUGHFRVDMX]JDGD
F7RGDVODVFDUDFWHUtVWLFDVDQWHULRUHV
4XLpQSUHVLGHODVUHXQLRQHVFRQMXQWDVGHODV&RUWHV*HQHUDOHV"
D(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
E(O3UHVLGHQWHGHO6HQDGR
F(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV\HOGHO6HQDGRFRQMXQWDPHQWH
&XiQWRV 6HQDGRUHV FRUUHVSRQGHQ FRPR PtQLPR D FDGD SURYLQFLD HV
SDxROD"
D7UHV
E&XDWUR
F'RV
4XpWLSRGHUHFXUVRFDEHFRQWUDODVVHQWHQFLDVGHO7ULEXQDO&RQVWLWXFLRQDO"
D$SHODFLyQ
E5HYLVLyQ
F1LQJXQR
(QHOFDVR GH OD PLQRUtD GH HGDG GHO5H\HQTXpSHUVRQD GHHQWUHODV
VLJXLHQWHVHVSRVLEOHODDFXPXODFLyQGHORVFDUJRVGH7XWRU\5HJHQWH"
D(QHOSDGUHFXDQGRFRQWUDLJDQXHYDVQXSFLDV
E(QXQGHVFHQGLHQWHGHO5H\
F(QFXDOTXLHUDVFHQGLHQWHGLUHFWRGHO5H\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOGHORVVHxDODGRVDFRQWLQXDFLyQQRSRGUiLQWHUSRQHUUHFXUVRGHLQ
FRQVWLWXFLRQDOLGDG"
D6HVHQWD'LSXWDGRVRVHVHQWD6HQDGRUHV
E(O*RELHUQR
F(O'HIHQVRUGHO3XHEOR
4XLpQSURSRQHDODV&RUWHV*HQHUDOHVHOFDQGLGDWRD3UHVLGHQWHGHO*R
ELHUQR"
D(OSDUWLGRSROtWLFRTXHJDQHODVHOHFFLRQHVJHQHUDOHV
E(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
F(O5H\
&XDQGRVHYRWHODUHVROXFLyQGHXQUHFXUVRGHDPSDURDQWHHO7ULEXQDO&RQV
WLWXFLRQDO\HQGLFKDYRWDFLyQUHVXOWHXQHPSDWHDYRWRVFyPRVHGHFLGHDIDYRU
RHQFRQWUDGHOUHFXUVR"
D(QHVWHFDVRVHGHFLGHVLHPSUHDIDYRU
E(QHVWHFDVRVHGHFLGHVLHPSUHHQFRQWUD
F'HFLGHHOYRWRGHFDOLGDGGHO3UHVLGHQWHGHGLFKR7ULEXQDO
$TXLpQFRUUHVSRQGHVHJ~QOD&RQVWLWXFLyQODPiVDOWDUHSUHVHQWDFLyQGHO
(VWDGRHQODVUHODFLRQHVLQWHUQDFLRQDOHV"
D$O5H\
E$O3UHVLGHQWHGHO*RELHUQR
F$O0LQLVWURGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
/DV&RUWHV*HQHUDOHVSXHGHQFRQWURODUODDFFLyQGHO*RELHUQR
D5HFODPDQGRODSUHVHQFLDGHPLHPEURVGHO*RELHUQRDQWHODV&iPDUDV\VXV&RPL
VLRQHV
E0HGLDQWHODDGRSFLyQGHODPRFLyQGHFHQVXUDRPHGLDQWHLQWHUSHODFLRQHV\SUHJXQ
WDVIRUPXODGDVDQWHODV&iPDUDV
F'HWRGDVODVIRUPDVDQWHULRUHV
/DLQPXQLGDGSDUODPHQWDULDVLJQLILFDTXH'LSXWDGRV\6HQDGRUHVSRGUiQVHU
GHWHQLGRV
D1XQFDSRUTXHJR]DQGHLQPXQLGDG
E6yORFXDQGRORDXWRULFHHO*RELHUQR
/DV&iPDUDVVHUH~QHQHQVHVLyQFRQMXQWDSDUDODVFRPSHWHQFLDV
D/HJLVODWLYDV\'HUHFKRV)XQGDPHQWDOHV
E1ROHJLVODWLYDVTXHOHVDWULEX\HHO7tWXOR,,GHOD&RQVWLWXFLyQ
F6REUHOHJLVODFLyQHLQIRUPHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O Q~PHUR GH 'LSXWDGRV TXH FRQIRUPDQ HO &RQJUHVR HVWDUi FRPSUHQGLGR
HQWUH
D8QPtQLPRGH\XQPi[LPRGH
E8QPtQLPRGH\XQPi[LPRGH
F6RQVLHPSUH
&XiQWRV6HQDGRUHVVHGHEHQQRPEUDUSRUSURYLQFLDSHQLQVXODU\SRUODV
FLXGDGHVGH&HXWD\0HOLOOD"
D&LQFRSRUSURYLQFLDXQRSRU&HXWD\XQRSRU0HOLOOD
E&XDWURSRUSURYLQFLDGRVSRU&HXWD\GRVSRU0HOLOOD
F7UHVSRUSURYLQFLDXQRSRU&HXWD\XQRSRU0HOLOOD
/RV'LSXWDGRV\6HQDGRUHVJR]DQGHLQYLRODELOLGDGSRU
D/RVGHOLWRVFRPHWLGRVHQHOHMHUFLFLRGHVXVFDUJRV
E/RVGHOLWRVFRPHWLGRVGXUDQWHXQPDQGDWRVLELHQSXHGHQVHUMX]JDGRVSUHYLDFRQ
FHVLyQGHXQVXSOLFDWRULRTXHDXWRULFHOD&iPDUDUHVSHFWLYD
F/DVRSLQLRQHVPDQLIHVWDGDVHQHOHMHUFLFLRGHVXVIXQFLRQHV
'HQWURGHORVFXiQWRVGtDVVLJXLHQWHVDODFHOHEUDFLyQGHHOHFFLRQHVJHQH
UDOHVHO&RQJUHVRGHORV'LSXWDGRVGHEHUiVHUFRQYRFDGR"
D4XLQFHGtDV
E9HLQWHGtDV
F9HLQWLFLQFRGtDV
8QDPLVPDSHUVRQDSXHGHVHU
D0LHPEURGHO&RQJUHVRGHORV'LSXWDGRV\GHO6HQDGR
E0LHPEURGHO&RQJUHVR\GHOD$VDPEOHDGHXQD&RPXQLGDG$XWyQRPD
F0LHPEURGHO6HQDGR\GHOD$VDPEOHDGHXQD&RPXQLGDG$XWyQRPD
(O6HQDGRHVOD&iPDUDGHUHSUHVHQWDFLyQ
D3URYLQFLDO
E3URYLQFLDOH,QVXODU
F7HUULWRULDO
&XiQWDV6DODVWLHQHHO7ULEXQDO&RQVWLWXFLRQDO"
D'RV
E7UHV
F&XDWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHGHHQWUHODVVLJXLHQWHVUHVSXHVWDVORTXHVHDFRPSHWHQFLDGHODV
&RUWHV*HQHUDOHV
D(MHUFHUODSRWHVWDGOHJLVODWLYDGHO(VWDGR\FRQWURODUODDFFLyQGHO*RELHUQR
E$SUREDUORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
F7RGDVHOODVORVRQ
6RQIXQFLRQHVGHODV&RUWHV*HQHUDOHV
D'DUFRQIRUPLGDGRQRDODVUHODFLRQHVLQWHUQDFLRQDOHVGHO*RELHUQR
E1RPEUDUDO'HIHQVRUGHO3XHEOR
F1RPEUDUDORVPLHPEURVGHO&RQVHMR*HQHUDOGHOSRGHU-XGLFLDO
6HxDOHFXiQWRVPLHPEURVIRUPDQOD'LSXWDFLyQ3HUPDQHQWHGHO&RQJUHVR\
FXiQWRVODGHO6HQDGRUHVSHFWLYDPHQWH
D(QHO&RQJUHVR\HQHO6HQDGR
EHQHO&RQJUHVR\HQHO6HQDGR
F&RPRPtQLPRHQFDGDXQDGHODV&iPDUDV
4XLpQUHDOL]DODFRQYRFDWRULD\GLVROXFLyQGHODV&RUWHV*HQHUDOHV"
D(O*RELHUQR
F(O5H\
6LODLQLFLDWLYDOHJLVODWLYDSDUWHGHXQJUXSRGHPLHPEURVGHO3DUODPHQWR
UHFLEHHOQRPEUHGH
D3URSRVLFLyQGHOH\
E3UR\HFWRGHOH\
F/H\SDUODPHQWDULD
4XpHVOD0HVDGHO&RQJUHVRGHORV'LSXWDGRV"
D(OOXJDURFXSDGRSRUHO3UHVLGHQWH
E(OOXJDUGRQGHVHUH~QHOD'LSXWDFLyQ3HUPDQHQWH
F(OyUJDQRTXHIRUPDHO3UHVLGHQWHORV9LFHSUHVLGHQWHV\ORV6HFUHWDULRV
$QXDOPHQWHHQODV&iPDUDVFXiQWRVSHUtRGRVGHVHVLRQHVKD\"
D8QR
E'RV
F7UHV
0LHQWUDVHVWpQHQDFWLYRQRSXHGHQVHUHOHJLGRVPLHPEURVGHODV&RUWHVORV
D0LQLVWURV
E-XHFHV
F1RWDULR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'H HQWUH ORV VLJXLHQWHV VHxDOH OD UHVSXHVWD TXH FRQWHPSOD OD IRUPD GH
LQLFLDUVHODHODERUDFLyQGHXQDOH\
D&XDQGRDVtORGLVSRQJDHO5H\
E6LORSURSRQHHO'HIHQVRUGHO3XHEOR
F0HGLDQWHODLQLFLDWLYDSRSXODU
6LXQSUR\HFWRGHOH\HVGHFODUDGRXUJHQWHSRUHO*RELHUQRRSRUHO&RQJUH
VRGHORV'LSXWDGRVGHFXiQWRVGtDVQDWXUDOHVGLVSRQGUiHO6HQDGRSDUDYHWDUOR
RHQPHQGDUOR"
D9HLQWHGtDV
E7UHLQWDGtDV
F4XLQFHGtDV
&XiQGRVHSXHGHSURFHVDUDXQ'LSXWDGR"
D(QFDVRGHIODJUDQWHGHOLWR
E(OHYDQGRVXSOLFDWRULRDODVGRV&iPDUDV
F/RWLHQHTXHDXWRUL]DUHQFRQFUHWRHO&RQJUHVRGHORV'LSXWDGRV
&XiQGRSRGUiOD5HLQDFRQVRUWHHMHUFHUGHUHFKRVFRQVWLWXFLRQDOHV"
D6yORFXDQGRVHD5HJHQWH
E6yORFXDQGRVHD7XWRUD
F&XDQGRVHD5HJHQWH\7XWRUD
$TXHOODIRUPDGH*RELHUQRHQODTXHORVSRGHUHVGHO5H\HVWiQGHILQLGRVHQ
XQD/H\6XSUHPDR&RQVWLWXFLyQUHFLEHQHOQRPEUHGH0RQDUTXtD
D$EVROXWD
E&RQVWLWXFLRQDO
F'HPRFUiWLFD
8QDGHODVIXQFLRQHVEiVLFDVGHO5H\FRQWHPSODGDVHQHODUWtFXORGH
OD&RQVWLWXFLyQHV
D6DQFLRQDU\SURPXOJDUODVOH\HV
E1RPEUDU\VHSDUDUDORVPLHPEURVGHO*RELHUQRDSURSXHVWDGHVX3UHVLGHQWH
F$UELWUDU\PRGHUDUHOIXQFLRQDPLHQWRUHJXODUGHODV,QVWLWXFLRQHV
3DUODPHQWDULDPHQWHODHOHFFLyQGHO3UHVLGHQWHGHO*RELHUQRUHFLEHHOQRP
EUHGH
D&XHVWLyQGHFRQILDQ]D
E9RWRGHFHQVXUD
F9RWRGHLQYHVWLGXUD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OUHFXUVRGHDPSDURDQWHHO7ULEXQDO&RQVWLWXFLRQDOHVYiOLGRSDUDUHFDEDU
ODWXWHODGHOGHUHFKRDODSURSLHGDGSULYDGD
D(QWRGRVORVFDVRV
E(QDOJXQRVFDVRV
F(QQLQJ~QFDVR
&XiQWRVPLHPEURVWLHQHHO3OHQRGHO7ULEXQDO&RQVWLWXFLRQDO"
D6HLV
E1XHYH
F'RFH
(OSHUtRGRGHPDQGDWRGHORV'LSXWDGRVGHO&RQJUHVRVHGHQRPLQD
D3HUtRGRGHVHVLRQHV
E5HSUHVHQWDFLyQ3DUODPHQWDULD
F/HJLVODWXUD
4XLpQHVSXHGHQSUHVHQWDUUHFXUVRVGHLQFRQVWLWXFLRQDOLGDG"
D(O3UHVLGHQWHGHO*RELHUQR\HO'HIHQVRUGHO3XHEOR
E&LQFXHQWD6HQDGRUHVRFLQFXHQWD'LSXWDGRV
F7RGRVHOORV
(O3UHVLGHQWHGHO&RQJUHVRHVHOHJLGRSRU
D(O5H\
E(O3UHVLGHQWHGHO*RELHUQR
F/RVSURSLRV'LSXWDGRV
(OUHFXUVRTXHSUHVHQWDXQDSHUVRQDItVLFDRMXUtGLFDHQVXFDVRDQWHHO
7ULEXQDO&RQVWLWXFLRQDOSRUFRQVLGHUDUOHVLRQDGRVXOHJtWLPRGHUHFKRGHLJXDOGDG
DQWHODOH\SUHYLVWRHQHODUWtFXORGHOD&RQVWLWXFLyQVHOODPDGH
D$PSDUR
E6~SOLFD
F5HYLVLyQ
/DUHIRUPDFRQVWLWXFLRQDOOOHYDGDDFDERHOGHDJRVWRGHSRUOD
TXHVHDGPLWLyHOVXIUDJLRSDVLYRHQODVHOHFFLRQHVPXQLFLSDOHV\DO3DUODPHQWR(X
URSHRDORVFLXGDGDQRVFRPXQLWDULRVFRQUHVLGHQFLDHQXQDORFDOLGDGHVSDxRODVH
RULJLQySRUQXHVWUDDGKHVLyQDOD8QLyQ(XURSHDDWUDYpVGHO7UDWDGRGH0DDVWULFKW
TXpDUWtFXORVHUHIRUPyFRQHOOD"
D(O
E(O
F(O
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D FRQGHQD D WUDEDMRV IRU]DGRV VH SXHGH LPSRQHU SRU ORV 7ULEXQDOHV GH
-XVWLFLDFXDQGRVHWUDWHGH
D'HOLWRVWHUURULVWDV
E'HOLWRVGHHVSLRQDMH
F(QQLQJ~QFDVRVHSXHGHLPSRQHU
&XDQGRVHWUDWHGHEDQGDVDUPDGDVRHOHPHQWRVWHUURULVWDVODGHWHQFLyQ
SUHYHQWLYDFRQSHUPLVRGHO-XH]SRGUiGXUDUFRPRPi[LPR
D&XDWURGtDV
E&LQFRGtDV
F'LH]GtDV
1RVHSXHGHVXVSHQGHUFXDQGRVHGHFODUHHOHVWDGRGHDODUPDHOGHUHFKR
D$ODOLEHUWDG\VHJXULGDGSHUVRQDO
E$ODLQYLRODELOLGDGGHOGRPLFLOLR
(ODUWtFXORGHOD&RQVWLWXFLyQJDUDQWL]DODOLEHUWDGGHH[SUHVLyQHQEDVH
DHOORTXLpQSXHGHRUGHQDUHOVHFXHVWURGHXQDSXEOLFDFLyQ"
D(O'HOHJDGRGHO*RELHUQRHQOD&RPXQLGDG$XWyQRPD
F(O6XEGHOHJDGRGHO*RELHUQRHQODSURYLQFLDUHVSHFWLYD
(OHMHUFLFLRGHOGHUHFKRGHKXHOJD
D(VFDXVDGHGHVSLGR
E6XVSHQGHODUHODFLyQODERUDO
F(VLQFRQVWLWXFLRQDO
6HxDOHODDILUPDFLyQFRUUHFWDTXHFRQWHPSODHOWH[WRFRQVWLWXFLRQDO
D'HDFXHUGRFRQHODUWGHOD&RQVWLWXFLyQORVVLQGLFDWRVGHORVWUDEDMDGRUHV\ODV
DVRFLDFLRQHVHPSUHVDULDOHVFRQWULEX\HQDODGHIHQVD\SURPRFLyQGHORVLQWHUHVHVHFRQy
PLFRV\VRFLDOHVTXHOHVVRQSURSLRV6XFUHDFLyQ\HOHMHUFLFLRGHVXDFWLYLGDGVRQOLEUHV
GHQWURGHOUHVSHWRDOD&RQVWLWXFLyQ\DODOH\6XHVWUXFWXUDLQWHUQD\IXQFLRQDPLHQWRGHEH
UiQVHUGHPRFUiWLFRV
E(ODUWGHOD&RQVWLWXFLyQVHxDODTXHHOFDVWHOODQRHVODOHQJXDRILFLDOGHO(VWDGR
7RGRVORVHVSDxROHVWLHQHQHOGHEHUGHFRQRFHUOD\HOGHUHFKRDXVDUOD
F(ODUWGHOD&RQVWLWXFLyQVHxDODTXHHOFDVWHOODQRHVODOHQJXDRILFLDOGHO(VWDGR
7RGRVORVHVSDxROHVWLHQHQHOGHUHFKRDFRQRFHUOD\HOGHEHUGHXVDUOD
/DOLEHUWDGGHFiWHGUDFRQVLVWHHQ
D/DIDFXOWDGGHDFFHGHUDFiWHGUDVSRURSRVLFLyQ
F/DGHVLJQDFLyQOLEUHGHFDWHGUiWLFRVSRUSDUWHGHO*RELHUQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DGHWHQFLyQSUHYHQWLYDGHEHGXUDU
DKRUDV
EKRUDV
F(OWLHPSRHVWULFWDPHQWHQHFHVDULRSDUDODUHDOL]DFLyQGHODVDYHULJXDFLRQHVWHQGHQ
WHVDOHVFODUHFLPLHQWRGHORVKHFKRV\FRPRPi[LPRKRUDV
3DUD IDFLOLWDU OD LQYHVWLJDFLyQ GH XQ LPSRUWDQWH KHFKR GHOLFWLYR OD 3ROLFtD
QHFHVLWDLQWHUYHQLUXQWHOpIRQRSDUDHVFXFKDU\JUDEDUODVFRQYHUVDFLRQHVFyPR
GHEHKDFHUOR"
D&RPRHVWLPHPiVRSRUWXQR
E7LHQHTXHDXWRUL]DUORHO6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLD
F7LHQHTXHDXWRUL]DUOROD$XWRULGDG-XGLFLDO
(QTXpSDUWHGHOD&RQVWLWXFLyQ(VSDxRODVHKDEODGHORVSRGHUHVGHO(V
WDGR"
D(QODSDUWHRUJiQLFD
E(QHO7tWXOR3UHOLPLQDU
F(QODSDUWHGRJPiWLFD
(QTXpQRUPDWLYDHVSDxRODVHFRQWHPSODHOGHOLWRHFROyJLFR"
D(QOD&RQVWLWXFLyQ\HQHO&yGLJRSHQDO
E(QOD/H\GH(QMXLFLDPLHQWR&LYLO
F(QOD/H\GH(QMXLFLDPLHQWR&ULPLQDO
(QODSDUWHGRJPiWLFDGHOD&RQVWLWXFLyQVHUHFRJHQ
D/RVGHUHFKRVIXQGDPHQWDOHV\VXHMHUFLFLR
E/DVJDUDQWtDVGHORVGHUHFKRV\VXVXVSHQVLyQ
6HJ~QOD&RQVWLWXFLyQ(VSDxRODXQDPLVLyQGHOJDVWRS~EOLFRHV
D$VLJQDUHTXLWDWLYDPHQWHORVUHFXUVRVS~EOLFRV
E6XIUDJDUORVJDVWRVUHSUHVHQWDWLYRVGHORVSRGHUHVS~EOLFRV
F(OHYDUODVUHQWDVGHODVFODVHVPHQRVIDYRUHFLGDV
/DILUPDGHOD&RQVWLWXFLyQSRUHO5H\FRPRSUXHEDGHFRQIRUPLGDGFRQOD
PLVPDHV
D(OUHIUHQGR
E/DVDQFLyQ
F/DSURPXOJDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(ODUWtFXORGHOD&RQVWLWXFLyQQRVHUHILHUHD
D/DWXWHODMXGLFLDO
E/DSUHVXQFLyQGHLQRFHQFLD
(QOD&RQVWLWXFLyQ(VSDxRODVHFRQWHPSODTXHHQHOFRQWURO\JHVWLyQGH
WRGRVORVFHQWURVGRFHQWHVVRVWHQLGRVSRUOD$GPLQLVWUDFLyQFRQIRQGRVS~EOLFRV
LQWHUYHQGUiQ
D/RVSDGUHVGHORVDOXPQRV\ORVSURIHVRUHV
E/RVDOXPQRVHQVXFDVR
/D&RQVWLWXFLyQ(VSDxRODKDVLGRUHIRUPDGDHQXQDRFDVLyQFRQFUHWDPHQWHHO
DGHDJRVWRGH
EGHDJRVWRGH
FGHDJRVWRGH
(Q TXp DUWtFXOR FRQVWLWXFLRQDO VH FRQWHPSOD OD FRQVHUYDFLyQ GHO PHGLR
DPELHQWH"
D
E
F
3DUDODGHFODUDFLyQGHOHVWDGRGHH[FHSFLyQHVQHFHVDULDODSUHYLDDXWRUL
]DFLyQ
D'HO&RQJUHVRGHORV'LSXWDGRV
E'HO6HQDGR
/DFLUFXQVFULSFLyQHOHFWRUDOHVODSURYLQFLD\ODVHOHFFLRQHVVHUHDOL]DQHQ
HOODVDWHQGLHQGRDFULWHULRVGHUHSUHVHQWDFLyQ
D3DULWDULD
E'LUHFWD
F3URSRUFLRQDO
6HJ~QVXSURSLR5HJODPHQWRHQOD0HVDGHO&RQJUHVRGHORV'LSXWDGRV
FXiQWRV9LFHSUHVLGHQWHVKD\"
D8QR
E7UHV
F&XDWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LQRKXELHVHQLQJXQDSHUVRQDDTXLHQFRUUHVSRQGDOD5HJHQFLDHVWDVHUi
QRPEUDGDSRU
E(O&RQVHMRGH(VWDGR
F/DV&RUWHV*HQHUDOHV
(QTXpPRPHQWRSUHVWDUiMXUDPHQWRGHILGHOLGDGDO5H\HO5HJHQWH"
D$ODOFDQ]DUODPD\RUtDGHHGDG
E$OKDFHUVHFDUJRGHVXVIXQFLRQHV
F1RMXUDILGHOLGDGDO5H\VyORDOD&RQVWLWXFLyQ
/DDXWRUL]DFLyQSDUDTXHHO5H\SXHGDGHFODUDUODJXHUUDRKDFHUODSD]
FRUUHVSRQGH
E6yORDO&RQJUHVRGHORV'LSXWDGRVSRUPD\RUtDDEVROXWD
F1RQHFHVLWDDXWRUL]DFLyQGHQDGLHSRUVHUHO-HIHGHO(VWDGR
8QD&RPLVLyQ3DUODPHQWDULDHVXQJUXSRGHSDUODPHQWDULRV
D0LHPEURVGHORVGLYHUVRVSDUWLGRVSROtWLFRVRUJDQL]DGRVSDUDHOHVWXGLR\GHVDUUROOR
GHDVXQWRVHVSHFtILFRV
E(QFDUJDGRGHUHODFLRQDUVHFRQHO*RELHUQR
F&RPSXHVWRSRUHO3UHVLGHQWH\ORVSRUWDYRFHVGHORVJUXSRVSROtWLFRV
(QODV&iPDUDVODPD\RUtDVLPSOHVHGDVLYRWDQDIDYRUODPLWDGPiVXQR
D'HOWRWDOGHORVPLHPEURV
E'HORVPLHPEURVSUHVHQWHVHQHVHPRPHQWR
F'HOJUXSRSDUODPHQWDULRTXHPDQWLHQHDO*RELHUQR
/DVGLVSRVLFLRQHVQRUPDWLYDVTXHHO&RQVHMRGH0LQLVWURVVRPHWHDO&RQ
JUHVRGHORV'LSXWDGRVDFRPSDxDGDVGHXQD([SRVLFLyQGH0RWLYRV\GHORVDQWH
FHGHQWHVQHFHVDULRVSDUDSURQXQFLDUVHVREUHHOODVUHFLEHQHOQRPEUHGH
D3URSRVLFLRQHVGHOH\
E$QWHSUR\HFWRVGHOH\
F3UR\HFWRVGHOH\
6HJ~QOD&RQVWLWXFLyQORVSDUWLGRVSROtWLFRV
D([SUHVDQHOSOXUDOLVPRSROtWLFRFRQFXUUHQDODIRUPDFLyQ\PDQLIHVWDFLyQGHODYROXQ
WDGSRSXODU\VRQLQVWUXPHQWRIXQGDPHQWDOSDUDODSDUWLFLSDFLyQSROtWLFD
E6XFUHDFLyQ\HOHMHUFLFLRGHVXDFWLYLGDGVRQOLEUHVGHQWURGHOUHVSHWRDOD&RQVWLWX
FLyQ\DODOH\
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6LVXUJHXQFRQIOLFWRGHFRPSHWHQFLDVHQWUHHO(VWDGR\DOJXQD&RPXQLGDG
$XWyQRPDDTXLpQYLHQHDWULEXLGDVXUHVROXFLyQ"
D$O&RQVHMRGH(VWDGR
(QUHODFLyQFRQHO5H\FXiOGHODVVLJXLHQWHVUHVSXHVWDVQRHVFLHUWD"
D$UELWUD\PRGHUDHOIXQFLRQDPLHQWRQRUPDOGHODV,QVWLWXFLRQHV
E/DDEGLFDFLyQGHO5H\VHWUDPLWDUiPHGLDQWHOH\RUGLQDULD
F&RUUHVSRQGHDO5H\HO$OWR3DWURQD]JRGHODV5HDOHV$FDGHPLDV
4XLpQGLULJHODSROtWLFDLQWHULRUGHO(VWDGR"
D(O*RELHUQR
E(O6HQDGR
(ORUJDQLVPRTXHWLHQHLQGHSHQGHQFLDHQHOiPELWRGHODMXULVGLFFLyQFRQ
UHVSHFWRDORVGHPiVHV
D(O7ULEXQDO6XSUHPRGH-XVWLFLD
F/RV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
1RSURFHGHODLQLFLDWLYDSRSXODUHQPDWHULDVSURSLDVGH
D/H\HVRUJiQLFDV
E/H\HVRUGLQDULDV
F/H\HVPDUFR
&XDQGRHO*RELHUQRLPSXJQDDOJXQDGHODVGLVSRVLFLRQHV\UHVROXFLRQHV
DGRSWDGDVSRUORVyUJDQRVGHODV&RPXQLGDGHV$XWyQRPDVVHSURGXFHODVXVSHQ
VLyQGHODGLVSRVLFLyQRUHVROXFLyQUHFXUULGDVHxDOHDQWHTXpyUJDQR\SRUFXiQWR
WLHPSR
D$QWHHO7ULEXQDO6XSUHPRGH-XVWLFLDTXHUHVROYHUiHQFLQFRPHVHV
E$QWHHO7ULEXQDO6XSHULRUGH-XVWLFLDGHODUHVSHFWLYD&RPXQLGDGTXHUHVROYHUiHQ
VHLVPHVHV
F$QWHHO7ULEXQDO&RQVWLWXFLRQDOTXHUHVROYHUiHQFLQFRPHVHV
([WLQJXLGDVODVOtQHDVOODPDGDVHQGHUHFKRDODVXFHVLyQGHOD&RURQDGH
(VSDxDTXLpQSXHGHOODPDUDXQDQXHYDGLQDVWtDSDUDRFXSDUGLFKD&RURQD"
D(O&RQVHMRGH(VWDGR
E/DV&RUWHV*HQHUDOHV
F(O*RELHUQRGHOD1DFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpGXUDFLyQWLHQHHOPDQGDWRGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO"
D&LQFRDxRV
E&XDWURDxRV
F6HLVDxRV
4XLpQHVSXHGHQQRPEUDU&RPLVLRQHVGH,QYHVWLJDFLyQ"
E(O6HQDGR
F(O&RQJUHVRGHORV'LSXWDGRVHO6HQDGR\HQVXFDVRDPEDV&iPDUDV
3DUDUHIRUPDUOD&RQVWLWXFLyQ(VSDxRODVHQHFHVLWDXQDPD\RUtDGH
D'RVTXLQWRV
E7UHVTXLQWRV
F7UHVFXDUWRV
'HDFXHUGRFRQOD&RQVWLWXFLyQ(VSDxROD\ODVOH\HVTXLpQHMHUFHODSR
WHVWDGUHJODPHQWDULD"
D/DV&RUWHV*HQHUDOHV
E(O*RELHUQR
$TXLpQOHFRUUHVSRQGHHOQRPEUDPLHQWRGH3UHVLGHQWHGHO*RELHUQR"
D$O5H\FRQHOUHIUHQGRGHO*RELHUQRHQ3OHQR
E$O5H\FRQHOUHIUHQGRGHO3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
F$O5H\FRQHOUHIUHQGRGHO3UHVLGHQWHGHO6HQDGR
'HODVVLJXLHQWHVFRPSHWHQFLDVFXiOGHHOODVQRHVH[FOXVLYDGHO(VWDGR"
D$GPLQLVWUDFLyQGH-XVWLFLD
E6DQLGDGH+LJLHQH
F5HODFLRQHVLQWHUQDFLRQDOHV
&XiQGRHVQHFHVDULRHOUHIHUpQGXPSDUDXQDUHYLVLyQGHOD&RQVWLWXFLyQ"
D6LHPSUHHQWRGRFDVR
E1XQFD
F&XDQGRDIHFWHDODWRWDOLGDGRDXQDSDUWHHVHQFLDOGHODPLVPD
3XHGHQOOHYDUDFDERODLQLFLDWLYDGHXQDUHIRUPDFRQVWLWXFLRQDO
D(O*RELHUQRHO&RQJUHVRGHORV'LSXWDGRV\HO6HQDGR
E/DV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV$XWyQRPDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6L SRU FXDOTXLHU FLUFXQVWDQFLD FHVD HO 3UHVLGHQWH GHO *RELHUQR TXLpQ
RFXSDGLFKRFDUJR"
D1DGLH\QRKD\3UHVLGHQWHKDVWDODVQXHYDVHOHFFLRQHV
E(OTXHVHQRPEUHSRUODV&RUWHVLQPHGLDWDPHQWH
F6HJXLUiHQHOFDUJRSHURFRPR3UHVLGHQWHHQIXQFLRQHV
&RQUHIHUHQFLDDODVUHODFLRQHVHQWUHHO*RELHUQR\ODV&RUWHV*HQHUDOHV
HQTXpFRQVLVWHXQDSUHJXQWDDO*RELHUQR\XQDLQWHUSHODFLyQDOPLVPR"
D(QODSUHJXQWDVyORVHDVSLUDDXQDUHVSXHVWD
E(QODLQWHUSHODFLyQVHSXHGHSODQWHDUXQDPRFLyQSDUDVXGHEDWHHQOD&iPDUD\
SRVWHULRUYRWDFLyQ
/DVXFHVLyQHQHOWURQRGH(VSDxDVHJXLUiHORUGHQUHJXODUGH
D/tQHD\VH[R
E3ULPRJHQLWXUD\UHSUHVHQWDFLyQ
F/tQHD\HGDG
3RUFXiQWRWLHPSRVHHOLJHQORVPLHPEURVGHO7ULEXQDO&RQVWLWXFLRQDO"
D3RUWUHVDxRV
E3RUFLQFRDxRV
F3RUQXHYHDxRV
(QFDVRGHDEGLFDFLyQGHO5H\SRGUtDUHLQDUOD5HLQD"
D(VOD~QLFDSHUVRQDTXHSRGUtDKDFHUOR
E/RWHQGUtDTXHGLVSRQHUDVtXQDOH\RUJiQLFD
F6yORVLQRKXELHVHGHVFHQGLHQWHVSDUDKHUHGDU
(OHMHUFLFLRGH7XWRUGHO5H\HVLQFRPSDWLEOH
D&RQFXDOTXLHUFDUJRS~EOLFR
E&RQFXDOTXLHUFDUJRSROtWLFR
F&RQFXDOTXLHUDGHODVGRVFODVHVGHFDUJRVDQWHULRUHV
8Q)LVFDOSXHGHVHUHOHJLGR'LSXWDGRR6HQDGRU
D(QQLQJ~QFDVR
E6LQRHVWiHQDFWLYR
F6LQRHVWiHQDFWLYRSXHGHVHUHOHJLGR'LSXWDGRSHURQR6HQDGRU
&RQUHVSHFWRDO7ULEXQDO&RQVWLWXFLRQDOVHxDOHODUHVSXHVWDFRUUHFWD
D(O7ULEXQDO&RQVWLWXFLRQDOVyORHVWiVRPHWLGRDOD&RQVWLWXFLyQ\DVXSURSLDOH\UH
JXODGRUD
E(VHO~QLFRyUJDQRGHO(VWDGRTXHFDUHFHGHFRQWURO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVFDUJRVGH5HJHQWH\7XWRUSRGUiQFRLQFLGLUHQXQDPLVPDSHUVRQD
D6yORHVSRVLEOHHQHOSDGUHPDGUHRDVFHQGLHQWHVGLUHFWRVGHO5H\
E1XQFDHVSRVLEOHTXHFRLQFLGDQ
F6yORHVSRVLEOHHQHOSDGUHRHQODPDGUHHQFDVRGHHQYLXGDU
6LHO5H\QRPEUDHQVXWHVWDPHQWRDO7XWRUGHOKHUHGHURDOD&RURQDTXp
FRQGLFLRQHVGHEHUHXQLUGLFKR7XWRU"
D6HUPD\RUGHHGDG\HVSDxROGHQDFLPLHQWR
E3HUWHQHFHUDOD)DPLOLD5HDO
F4XHORDSUXHEHQODV&RUWHV*HQHUDOHV
6HJ~QOD&RQVWLWXFLyQ(VSDxRODFRUUHVSRQGHDO5H\
D6DQFLRQDU\SURPXOJDUODVOH\HVDVtFRPRHO$OWR3DWURQD]JRGHODV5HDOHV$FDGH
PLDV
E&RQYRFDUDUHIHUpQGXPHQORVFDVRVSUHYLVWRVHQOD&RQVWLWXFLyQ
(O5H\VDQFLRQDUiODVOH\HVDSUREDGDVSRUODV&RUWHV*HQHUDOHV\ODVSUR
PXOJDUi\RUGHQDUiVXLQPHGLDWDSXEOLFDFLyQHQHOSOD]RGH
D7UHLQWDGtDV
E1RWLHQHSOD]RILMR
F4XLQFHGtDV
6HxDOHGHHQWUHODVVLJXLHQWHV\HQORVWpUPLQRVSUHYLVWRVHQOD&RQVWLWX
FLyQODTXHQRVHDIXQFLyQGHO5H\
D&RQYRFDU\GLVROYHUODV&RUWHV*HQHUDOHV\FRQYRFDUHOHFFLRQHV
E3URSRQHUHOFDQGLGDWRD3UHVLGHQWHGHO*RELHUQR\HQVXFDVRQRPEUDUORDVtFRPR
SRQHUILQDVXVIXQFLRQHV
F3URSRQHUHOFDQGLGDWRD'HIHQVRUGHO3XHEOR
$TXLpQFRUUHVSRQGHODPDQLIHVWDFLyQGHOFRQVHQWLPLHQWRGHO(VWDGRSDUD
REOLJDULQWHUQDFLRQDOPHQWHPHGLDQWH7UDWDGRV"
D$O*RELHUQR
E$ODV&RUWHV*HQHUDOHV
F$O5H\
/DVDEGLFDFLRQHV\UHQXQFLDV\FXDOTXLHUGXGDGHKHFKRRGHGHUHFKRTXH
RFXUUDHQHORUGHQGHVXFHVLyQDOD&RURQDGH(VSDxDVHUHVROYHUiQSRU
D8QDFXHUGRHQWUH&RQJUHVRGHORV'LSXWDGRV\HO6HQDGR
E8QDOH\RUJiQLFD
F8QDOH\HVSHFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHODVFRPSHWHQFLDVGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDOILJXUD
D/DSURSXHVWDSDUDQRPEUDUDO3UHVLGHQWHGHO7ULEXQDO6XSUHPR\HOQRPEUDPLHQWR
GHO6HFUHWDULR*HQHUDOGHOPLVPR
E/DLQVSHFFLyQGH-X]JDGRV\7ULEXQDOHV
$TXLpQHVWiHQFRPHQGDGRHOJRELHUQR\ODDGPLQLVWUDFLyQDXWyQRPDGH
XQDSURYLQFLD"
D$ODV'LSXWDFLRQHV3URYLQFLDOHVXRWUDV&RUSRUDFLRQHVGHFDUiFWHUUHSUHVHQWDWLYR
E$ORV3UHVLGHQWHVGHODV&RPDUFDV
F$ORV'HOHJDGRVR6XEGHOHJDGRVGHO*RELHUQR
'HHQWUHORVVLJXLHQWHVVHxDOHTXLpQSXHGHVHUHOHJLGRPLHPEURGHO&RQ
JUHVRGHORV'LSXWDGRV
D8QPLOLWDUSURIHVLRQDOHQDFWLYR
E8QFRPSRQHQWHGHO7ULEXQDO6XSUHPR
F8Q,QJHQLHUR$JUyQRPR
&XiQWRV6HQDGRUHVOHFRUUHVSRQGHQDXQD&RPXQLGDG$XWyQRPD"
D&XDWURSRUFDGDSURYLQFLDGHTXHFRQVWHGLFKD&RPXQLGDG
E8QRSRUVHU&RPXQLGDG$XWyQRPD\RWURSRUFDGDPLOOyQGHKDELWDQWHVGHODPLVPD
F/DVXPDGHODVGRVUHVSXHVWDVDQWHULRUHV
$SURSXHVWDGHTXLpQHVQRPEUDGRSRUTXLpQ\GXUDQWHFXiQWRVDxRVHO
3UHVLGHQWHGHO7ULEXQDO&RQVWLWXFLRQDO"
D$SURSXHVWDGHO&RQJUHVRGHORV'LSXWDGRVORQRPEUDHO5H\\SRUFLQFRDxRV
E$SURSXHVWDGHO&RQVHMRGH0LQLVWURVORQRPEUDHO3UHVLGHQWHGHO*RELHUQR\SRU
FXDWURDxRV
F$SURSXHVWDGHO3OHQRGHOSURSLR7ULEXQDO&RQVWLWXFLRQDOORQRPEUDHO5H\\SRUWUHV
DxRV
0HGLDQWHODDEGLFDFLyQ
D6HFHGHQORVGHUHFKRVVXFHVRULRVDODSHUVRQDVLJXLHQWHHQODOtQHDGHVXFHVLyQ
E6HSLHUGHQORVGHUHFKRVVXFHVRULRVSDUDVtPLVPR
F6HSLHUGHQORVGHUHFKRVVXFHVRULRVSDUDVtPLVPR\WDPELpQSDUDVXVGHVFHQGLHQWHV
(O3UHVLGHQWHGHO*RELHUQRWUDVODFHOHEUDFLyQGHHOHFFLRQHVJHQHUDOHV
HVQRPEUDGRSRUHO5H\SHURTXLpQQRPEUDDORVGHPiVPLHPEURVGHO*RELHUQR"
D(O3UHVLGHQWHGHO*RELHUQRDSURSXHVWDGHO5H\
E(O5H\DSURSXHVWDGHO3UHVLGHQWHGHO*RELHUQR
F(O5H\DSURSXHVWDGHO&RQJUHVRGHORV'LSXWDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVDFWRVGHO5H\VRQUHIUHQGDGRVSRUHO3UHVLGHQWHGHO*RELHUQRRSRUORV
0LQLVWURVFRPSHWHQWHVSHURKD\DOJ~QFDVRHQHOTXHHOUHIUHQGRFRUUHVSRQGHDO
3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRVVHxiOHOR
D6LWUDVODSULPHUDYRWDFLyQGHLQYHVWLGXUDWUDQVFXUULHUDQGRVPHVHVVLQTXHQLQJ~Q
FDQGLGDWRKXELHUDREWHQLGRODFRQILDQ]DGHO&RQJUHVRGHORV'LSXWDGRVHO5H\GLVROYHUiODV
&RUWHVFRQHOUHIUHQGRGHO3UHVLGHQWHGHO&RQJUHVR
E/DSURSXHVWDGHOFDQGLGDWRD3UHVLGHQWHGHO*RELHUQRHVUHIUHQGDGDSRUHO3UHVLGHQ
WHGHO&RQJUHVRGHORV'LSXWDGRV
&XDQGRKDEODPRVGHO3RGHU(MHFXWLYRQRVHVWDPRVUHILULHQGR
D$O*RELHUQR
E$ORVWUHVSRGHUHVGHO(VWDGR
F$O3RGHU-XGLFLDOTXHHVHOTXHHMHFXWDODVSHQDV
&XDQGR HO 6HQDGR UHFLEH XQ SUR\HFWR GH OH\ DSUREDGR SUHYLDPHQWH SRU
HO &RQJUHVR SXHGH UHFKD]DUOR PHGLDQWH OD LQWHUSRVLFLyQ GHO YHWR SHUR SRU TXp
PD\RUtDKDGHDSUREDUVHHOYHWR"
D$EVROXWDHQSULPHUDYRWDFLyQ\VLPSOHHQODVHJXQGD
E$EVROXWD
F'HGRVWHUFLRV
/DGHIHQVDGHO(VWDGRHVXQDIXQFLyQTXHFRUUHVSRQGH
D$O*RELHUQR
E$ODV)XHU]DV$UPDGDV\DODV)XHU]DV\&XHUSRVGH6HJXULGDG
F$ODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
(OyUJDQRGHJRELHUQRGHORV-XHFHV0DJLVWUDGRV\UHVWRGHOSHUVRQDOSHU
WHQHFLHQWHDOD$GPLQLVWUDFLyQGH-XVWLFLDUHFLEHHOQRPEUHGH
D7ULEXQDO6XSUHPRGH-XVWLFLD
E3RGHU-XGLFLDO
F&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
/D-XVWLFLDHPDQDGHO3XHEOR\VHDGPLQLVWUDHQQRPEUHGHO5H\
D3RUTXHpOUHIUHQGDWRGRVORVDFWRVGHOD-XVWLFLD
E3RU-XHFHV\0DJLVWUDGRV
F3RUHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
%DMRHOSXQWRGHYLVWDGHVXRUJDQL]DFLyQWHUULWRULDOHO(VWDGR(VSDxRODVX
PHODIRUPDGH
D(VWDGRXQLWDULRGHVFHQWUDOL]DGR
E(VWDGRXQLWDULR
F(VWDGRUHJLRQDOGHVFHQWUDOL]DGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O7tWXOR,9GHOD&RQVWLWXFLyQ(VSDxRODWLHQHFRPRU~EULFD
D'HO*RELHUQR\GHOD$GPLQLVWUDFLyQ
E'HODVUHODFLRQHVHQWUHHO*RELHUQR\ODV&RUWHV*HQHUDOHV
F'HODV&RUWHV*HQHUDOHV\OD$GPLQLVWUDFLyQ
6LODLQLFLDWLYDOHJLVODWLYDVHOOHYDDFDERSRUHOSXHEORVHH[LJHXQPtQLPR
GHTXLQLHQWDVPLOILUPDV\VHSUHVHQWDUi
D8QDSURSRVLFLyQGHOH\
E8QSUR\HFWRGHOH\
F8QSUR\HFWRRSURSRVLFLyQGHOH\VHJ~QVHSUHVHQWHDWUDYpVGHO*RELHUQRRGHOD
0HVDGHO&RQJUHVR
6HSXHGHPRGLILFDUOD&RQVWLWXFLyQ(VSDxROD"
D7HQGUtDTXHSHGLUORHO*RELHUQRSRUXQDQLPLGDGHQODV&iPDUDV
E6tSHURXQDYH]DSUREDGDODUHIRUPDSRUODV&RUWHV*HQHUDOHVFRQWRGRVORVUH
TXLVLWRV TXH VH H[LJHQ HQ OD SURSLD &RQVWLWXFLyQ OD WHQGUtDQ TXH VRPHWHU VL SURFHGH D
UHIHUpQGXPSDUDVXUDWLILFDFLyQ
F(VLPSRVLEOHSRUVHUXQD&RQVWLWXFLyQPX\UtJLGD
0HGLDQWHTXpWLSRGHQRUPDVHUHVROYHUiHQVXFDVRODVGXGDVGHKHFKR
RGHGHUHFKRVREUHOD5HJHQFLDODVDEGLFDFLRQHV\ODVUHQXQFLDVHQORUHODWLYRDOD
&RURQR(VSDxROD"
D/H\RUGLQDULD
E/H\RUJiQLFD
F5HDOGHFUHWR
8QDYH]SUHVHQWDGDXQDPRFLyQGHFHQVXUDFXiOHVHOSOD]RSDUDVXYR
WDFLyQ"
D&LQFRGtDV
E7UHVGtDV
F&XDWURGtDV
'HHQWUHODVVLJXLHQWHVIXQFLRQHVFXiOGHHOODVQRFRUUHVSRQGHDO5H\"
D$FUHGLWDUDORV(PEDMDGRUHV\RWURVUHSUHVHQWDQWHVGLSORPiWLFRV
E&RQYRFDUHO&RQVHMRGH0LQLVWURV
F'HFODUDUODJXHUUD\KDFHUODSD]SUHYLDDXWRUL]DFLyQGHODV&RUWHV*HQHUDOHV
/RV3UHVLGHQWHVGHODV&RPXQLGDGHV$XWyQRPDVVRQHOHJLGRVSRU
E/D$VDPEOHD/HJLVODWLYDGHODSURSLD&RPXQLGDG$XWyQRPD
F(O5H\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
<ORVDQWHULRUHVVRQQRPEUDGRVSRU
E/D$VDPEOHD/HJLVODWLYDVGHODSURSLD&RPXQLGDG$XWyQRPD
F(O5H\
4XHGDQH[FOXLGDVHQODVXFHVLyQDOD&RURQDTXLHQHVWHQLHQGRGHUHFKRD
ODPLVPDFRQWUDMHUDQPDWULPRQLR
D&RQSHUVRQDTXHVHDGHVDQJUHUHDO
E&RQWUDODH[SUHVDSURKLELFLyQGHO5H\
F&RQWUDODH[SUHVDSURKLELFLyQGHO5H\\GHODV&RUWHV*HQHUDOHV
4XLpQVDQFLRQDORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR"
D(O-HIHGHO(VWDGR
F(O3UHVLGHQWHGHODV&RUWHV*HQHUDOHV
6HJ~QHORUGHQVXFHVRULRDOD&RURQDGH(VSDxDHQHOPLVPRVH[RWLHQH
SUHIHUHQFLD
D/DOtQHDDQWHULRU
E/DSHUVRQDGHPiVHGDG
F/DSHUVRQDGHPHQRVHGDG
(OGHUHFKRGHJUDFLDORSXHGHHMHUFHU
D(O-HIHGHO(VWDGR
E/DV&RUWHV*HQHUDOHV
F(O*RELHUQR
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E9HLQWLFLQFRGtDV
D/DSHUVRQDPD\RUGHHGDG\HVSDxROGHQDFLPLHQWRTXHHQVXWHVWDPHQWRKX
ELHVHQRPEUDGRHO5H\GLIXQWR
F3RGHUDFXGLUDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRVGHO6HQDGR\GHVXV
&RPLVLRQHV
F(O5H\
F$O'HIHQVRUGHO3XHEOR
E(O&RQVHMRGH(VWDGR
F(O5H\
F&XDQGRVHSURGX]FDQODVGRVUHVSXHVWDVDQWHULRUHV
F3RGUiKDFHUXVRGHODOODPDGDFXHVWLyQGHLQFRQVWLWXFLRQDOLGDG
E(Q&DQDULDV&DELOGRV,QVXODUHV\HQ%DOHDUHV&RQVHMRV,QVXODUHV
D3RU\GHHQWUHORV&RQFHMDOHVHOHFWRVGHORV0XQLFLSLRVGHOD3URYLQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E(O5H\
E(O5H\
F/DVGRVUHVSXHVWDVVRQYiOLGDV
D7LHQHMXULVGLFFLyQQDFLRQDO\HV~QLFRHQVXRUGHQ
F4XLQWR
E'HO5H\
F,,
D6tFXDQGRSDVHDVHU5HJHQWH
E(QFDVRGHLQKDELOLWDFLyQGHO5H\
F(O3UtQFLSH+HUHGHURVLIXHVHPD\RUGHHGDG
E4XHGDUiQH[FOXLGDVHQODVXFHVLyQDOD&RURQDSRUVt\VXVGHVFHQGLHQWHV
F4XHOD0HVDGHO&RQJUHVRGHFLGDVREUHVXDGPLVLELOLGDG
F7UHVTXLQWRV
F3XHGHKDFHUORFXDQGRORHVWLPHRSRUWXQRDSHWLFLyQGHO3UHVLGHQWHGHO*RELHUQR
D/D'LSXWDFLyQ3HUPDQHQWH
E1RYLQFXODQDORV7ULEXQDOHVGH-XVWLFLD
F8QR
F1LQJXQR
F(OyUJDQRMXGLFLDOFRPSHWHQWH
F7RGDVODVFDUDFWHUtVWLFDVDQWHULRUHV
D(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
E&XDWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F1LQJXQR
F(QFXDOTXLHUDVFHQGLHQWHGLUHFWRGHO5H\
E(O*RELHUQR
F(O5H\
F'HFLGHHOYRWRGHFDOLGDGGHO3UHVLGHQWHGHGLFKR7ULEXQDO
D$O5H\
E1ROHJLVODWLYDVTXHOHVDWULEX\HHO7tWXOR,,GHOD&RQVWLWXFLyQ
D8QPtQLPRGH\XQPi[LPRGH
E&XDWURSRUSURYLQFLDGRVSRU&HXWD\GRVSRU0HOLOOD
F/DVRSLQLRQHVPDQLIHVWDGDVHQHOHMHUFLFLRGHVXVIXQFLRQHV
F9HLQWLFLQFRGtDV
F0LHPEURGHO6HQDGR\GHOD$VDPEOHDGHXQD&RPXQLGDG$XWyQRPD
F7HUULWRULDO
D'RV
F7RGDVHOODVORVRQ
E1RPEUDUDO'HIHQVRUGHO3XHEOR
F&RPRPtQLPRHQFDGDXQDGHODV&iPDUDV
F(O5H\
D3URSRVLFLyQGHOH\
F(OyUJDQRTXHIRUPDHO3UHVLGHQWHORV9LFHSUHVLGHQWHV\ORV6HFUHWDULRV
E'RV
E-XHFHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F0HGLDQWHODLQLFLDWLYDSRSXODU
D9HLQWHGtDV
F/RWLHQHTXHDXWRUL]DUHQFRQFUHWRHO&RQJUHVRGHORV'LSXWDGRV
F&XDQGRVHD5HJHQWH\7XWRUD
E&RQVWLWXFLRQDO
F9RWRGHLQYHVWLGXUD
F(QQLQJ~QFDVR
F'RFH
F/HJLVODWXUD
F7RGRVHOORV
F/RVSURSLRV'LSXWDGRV
D$PSDUR
E(O
F(QQLQJ~QFDVRVHSXHGHLPSRQHU
E&LQFRGtDV
E6XVSHQGHODUHODFLyQODERUDO
D'HDFXHUGRFRQHODUWGHOD&RQVWLWXFLyQORVVLQGLFDWRVGHORVWUDEDMDGRUHV
\ ODV DVRFLDFLRQHV HPSUHVDULDOHV FRQWULEX\HQ D OD GHIHQVD \ SURPRFLyQ GH ORV LQWHUHVHV
HFRQyPLFRV\VRFLDOHVTXHOHVVRQSURSLRV6XFUHDFLyQ\HOHMHUFLFLRGHVXDFWLYLGDGVRQ
OLEUHVGHQWURGHOUHVSHWRDOD&RQVWLWXFLyQ\DODOH\6XHVWUXFWXUDLQWHUQD\IXQFLRQDPLHQWR
GHEHUiQVHUGHPRFUiWLFRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F (O WLHPSR HVWULFWDPHQWH QHFHVDULR SDUD OD UHDOL]DFLyQ GH ODV DYHULJXDFLRQHV
WHQGHQWHVDOHVFODUHFLPLHQWRGHORVKHFKRV\FRPRPi[LPRKRUDV
F7LHQHTXHDXWRUL]DUOROD$XWRULGDG-XGLFLDO
D(QODSDUWHRUJiQLFD
D(QOD&RQVWLWXFLyQ\HQHO&yGLJRSHQDO
D$VLJQDUHTXLWDWLYDPHQWHORVUHFXUVRVS~EOLFRV
E/DVDQFLyQ
FGHDJRVWRGH
F
D'HO&RQJUHVRGHORV'LSXWDGRV
F3URSRUFLRQDO
F&XDWUR
F/DV&RUWHV*HQHUDOHV
E$OKDFHUVHFDUJRGHVXVIXQFLRQHV
D0LHPEURVGHORVGLYHUVRVSDUWLGRVSROtWLFRVRUJDQL]DGRVSDUDHOHVWXGLR\GH
VDUUROORGHDVXQWRVHVSHFtILFRV
E'HORVPLHPEURVSUHVHQWHVHQHVHPRPHQWR
F3UR\HFWRVGHOH\
E/DDEGLFDFLyQGHO5H\VHWUDPLWDUiPHGLDQWHOH\RUGLQDULD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D(O*RELHUQR
D/H\HVRUJiQLFDV
E/DV&RUWHV*HQHUDOHV
D&LQFRDxRV
F(O&RQJUHVRGHORV'LSXWDGRVHO6HQDGR\HQVXFDVRDPEDV&iPDUDV
E7UHVTXLQWRV
E(O*RELHUQR
E$O5H\FRQHOUHIUHQGRGHO3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
E6DQLGDGH+LJLHQH
F&XDQGRDIHFWHDODWRWDOLGDGRDXQDSDUWHGHODPLVPD
F6HJXLUiHQHOFDUJRSHURFRPR3UHVLGHQWHHQIXQFLRQHV
E3ULPRJHQLWXUD\UHSUHVHQWDFLyQ
F3RUQXHYHDxRV
E/RWHQGUtDTXHGLVSRQHUDVtXQDOH\RUJiQLFD
F&RQFXDOTXLHUDGHODVGRVFODVHVGHFDUJRVDQWHULRUHV
E6LQRHVWiHQDFWLYR
D6yORHVSRVLEOHHQHOSDGUHPDGUHRDVFHQGLHQWHVGLUHFWRVGHO5H\
D6HUPD\RUGHHGDG\HVSDxROGHQDFLPLHQWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F4XLQFHGtDV
F3URSRQHUHOFDQGLGDWRD'HIHQVRUGHO3XHEOR
F$O5H\
E8QDOH\RUJiQLFD
D$ODV'LSXWDFLRQHV3URYLQFLDOHVXRWUDV&RUSRUDFLRQHVGHFDUiFWHUUHSUHVHQWDWLYR
F8Q,QJHQLHUR$JUyQRPR
F/DVXPDGHODVGRVUHVSXHVWDVDQWHULRUHV
F$SURSXHVWDGHO3OHQRGHOSURSLR7ULEXQDO&RQVWLWXFLRQDOORQRPEUDHO5H\\
SRUWUHVDxRV
D6HFHGHQORVGHUHFKRVVXFHVRULRVDODSHUVRQDVLJXLHQWHHQODOtQHDGHVXFHVLyQ
E(O5H\DSURSXHVWDGHO3UHVLGHQWHGHO*RELHUQR
D$O*RELHUQR
E$EVROXWD
D$O*RELHUQR
F&RQVHMR*HQHUDOGHOSRGHU-XGLFLDO
E3RU-XHFHV\0DJLVWUDGRV
D(VWDGRXQLWDULRGHVFHQWUDOL]DGR
D'HO*RELHUQR\GHOD$GPLQLVWUDFLyQ
D8QDSURSRVLFLyQGHOH\
E6tSHURXQDYH]DSUREDGDODUHIRUPDSRUODV&RUWHV*HQHUDOHVFRQWRGRVORV
UHTXLVLWRVTXHVHH[LJHQHQODSURSLD&RQVWLWXFLyQODWHQGUtDQTXHVRPHWHUVLSURFHGHD
E/H\RUJiQLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D&LQFRGtDV
E&RQYRFDUHO&RQVHMRGH0LQLVWURV
E/D$VDPEOHD/HJLVODWLYDGHODSURSLD&RPXQLGDG$XWyQRPD
F(O5H\
F&RQWUDODH[SUHVDSURKLELFLyQGHO5H\\GHODV&RUWHV*HQHUDOHV
D(O-HIHGHO(VWDGR
E/DSHUVRQDGHPiVHGDG
D(O-HIHGHO(VWDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$81,1(8523($5()(5(1&,$+,675,&$(/'(5(&+2'(5,9$'2
,167,78&,21(606,03257$17(6'(/$81,1(8523($
/$&223(5$&,132/,&,$/,17(51$&,21$/
(O7UDWDGRGH0DDVWULFKHVWDEOHFLyXQSULQFLSLRGHFRPSHWHQFLDHQWUHOD8QLyQ
(XURSHD\ORVGLIHUHQWHV(VWDGRVTXHODLQWHJUDQVHxDOHGLFKRSULQFLSLR
D(OGHVXEVLGLDULGDG
E(OGHVROLGDULGDG
F(OGHSURSRUFLRQDOLGDG
(QHO'HUHFKRGHOD8QLyQ(XURSHDFXiQGRHQWUDQHQYLJRUODV'LUHFWLYDVFX
\RVGHVWLQDWDULRVVHDQWRGRVORV(VWDGRV&RPXQLWDULRV"
D)HFKDGHVXSXEOLFDFLyQHQHO'LDULR2ILFLDOGHOD8QLyQ(XURSHD
E/DIHFKDILMDGDSRUORVSURSLRV(VWDGRV\HQVXGHIHFWRYHLQWHGtDV
F&XDQGRFDGD*RELHUQRORHVWLPHRSRUWXQR
(QOD8QLyQ(XURSHDORV-XHFHVGHVX7ULEXQDOGH-XVWLFLDVRQHOHJLGRVSRU
D8Q-XH]SRUFDGD(VWDGRPLHPEUR
E(O3DUODPHQWR(XURSHR
F/D&RPLVLyQ(XURSHD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RV FRPSRQHQWHV GHO yUJDQR GH HQODFH HQWUH ODV 8QLGDGHV 1DFLRQDOHV GH
(XURSRO\OD2ILFLQD&HQWUDOGH(XURSROVRQGHVLJQDGRVSRU
D&DGDXQRGHORV(VWDGRVPLHPEURVGH(XURSRO
E/D&RPLVLyQ(XURSHD\FDGD(VWDGRPLHPEURGH(XURSROFRQMXQWDPHQWH
F/D2ILFLQD&HQWUDOGH(XURSRO\FDGD(VWDGRPLHPEURGHFRP~QDFXHUGR
(QOD8QLyQ(XURSHDODFRPSHWHQFLDVREUHHOIXQFLRQDPLHQWRHVWUXFWXUD\
FRQWUROJOREDOGHODVGLVWLQWDVIXQFLRQHVGH(XURSROHVUHVSRQVDELOLGDGDVLJQDGDD
D(O3DUODPHQWR(XURSHR
E(O&RQVHMRGHOD8QLyQ(XURSHD
F/D&RPLVLyQ(XURSHD
(QODOHJLVODFLyQHXURSHDH[LVWHHOOODPDGR'HUHFKRGHULYDGRTXHSXHGH
VHUFRQFHSWXDGRFRPRHOFRQMXQWRGHQRUPDVHPDQDGDVGHODV,QVWLWXFLRQHV&R
PXQLWDULDVGRWDGDVGHSRGHUOHJLVODWLYRVHxDOHFRPRVHGHQRPLQDQDTXpOODVGH
DOFDQFHJHQHUDOREOLJDWRULDVHQWRGRVVXVHOHPHQWRV\GLUHFWDPHQWHDSOLFDEOHVHQ
ORVWHUULWRULRVGHORV(VWDGRVPLHPEURV
D5HFRPHQGDFLRQHV
E5HJODPHQWRV
F'LFWiPHQHV
0HGLDQWHTXH7UDWDGRVHDGRSWyHOQRPEUHGH8QLyQ(XURSHD
D3RUHO7UDWDGRGH0DDVWULFKW
E3RUHO7UDWDGRGH1L]D
F/RV7UDWDGRVGHOD&(&$&((\(85$720QRORSRGtDQPRGLILFDU
(QTXpIHFKDHQWUyHQYLJRUHO7UDWDGRGH/LVERD"
DGHQRYLHPEUHGH
EGHGLFLHPEUHGH
FGHHQHURGH
&XiOGHORVVLJXLHQWHVIXHHO~OWLPRSDtVHQILUPDUHO7UDWDGRGH/LVERD"
D,UODQGD
E+RODQGD
F5HS~EOLFD&KHFD
&XiOHVHOQ~PHURPi[LPRGH'LSXWDGRVTXHSRGUiWHQHUHO3DUODPHQWRFRQ
HO7UDWDGRGH/LVERD"
DPiVVX3UHVLGHQWH
E\VX3UHVLGHQWH
F

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVDFWRVOHJLVODWLYRVGHOD8QLyQ(XURSHDDGRSWDGRVFRQDUUHJORDOSURFH
GLPLHQWROHJLVODWLYRRUGLQDULRVHUiQILUPDGRVSRU
D(O3UHVLGHQWHGHO3DUODPHQWR
E3RUHO3UHVLGHQWHGHO&RQVHMR
F3RUORVGRVDQWHULRUHV
$SDUWLUGHODHQWUDGDHQYLJRUGHO7UDWDGRGH/LVERDODIXQFLyQOHJLVODWLYD\
ODIXQFLyQSUHVXSXHVWDULDVHHMHUFHUi
D3RUHO&RQVHMR
E3RUHO3DUODPHQWR
F3RUORVGRVDQWHULRUHVFRQMXQWDPHQWH
'HVGHODHQWUDGDHQYLJRUGHO7UDWDGRGH/LVERDODUHJODJHQHUDOHQODDGRS
FLyQ GH DFXHUGRV SRU HO &RQVHMR \ H[FHSWR FXDQGR ORV 7UDWDGRV GLVSRQJDQ RWUD
FRVDVHKDUiSRU
D0D\RUtDVLPSOH
E0D\RUtDFXDOLILFDGD
F0D\RUtDDEVROXWD
$SDUWLUGHODHQWUDGDHQYLJRUGHO7UDWDGRGH/LVERDHO&RQVHMR(XURSHR
HOHJLUiDVX3UHVLGHQWHSRUPD\RUtD
D&XDOLILFDGD
E$EVROXWD
F7UHVTXLQWRV
6REUHODEDVHGHO7UDWDGRGH/LVERDVHxDOHSRUFXDQWRWLHPSR\VLVHUiR
QRUHQRYDEOHHOPDQGDWRGHO3UHVLGHQWHGHO&RQVHMR(XURSHR
D3RUGRVDxRV\PHGLRTXHSRGUiUHQRYDUVHSRUXQDVRODYH]
E3RUWUHVDxRVTXHSRGUiUHQRYDUVHSRUXQDVRODYH]
F3RUFLQFRDxRVVLQSRVLELOLGDGGHUHQRYDFLyQ
'HVGHTXpIHFKDHVDSOLFDEOHOD'HFLVLyQGHOD8QLyQ(XURSHDDSUREDGD
HOGHDEULOGHVXVWLWX\HQGRDO&RQYHQLRGH(XURSRO"
D1RKD\IHFKD\VHWHQGUiTXHGHWHUPLQDUSRUFRQVHQVR
E'HVGHHOGHHQHURGH
F$ODxRGHVXDSUREDFLyQRVHDHOGHMXOLRGH
&XiOHVHOyUJDQRTXHRVWHQWDHOPi[LPRSRGHUGHFLVRULR\QRUPDWLYR
FRPRyUJDQROHJLVODWLYRGHOD8QLyQ(XURSHD"
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3RU OR TXH UHVSHFWD D (VSDxD HO RUJDQLVPR (85232/ VH HQFXDGUD HQ OD
&RPLVDUtD*HQHUDOGH
D,QIRUPDFLyQ
E6HJXULGDG&LXGDGDQD
F3ROLFtD-XGLFLDO
/DVHGHGH,17(532/HVWiHQODFLXGDGGH
D/\RQ
E/D+D\D
F3DUtV
/DVSHUVHFXFLRQHVWUDQVIURQWHUL]DVVHSXHGHQKDFHUSRUOD]RQD
D7HUUHVWUH
E7HUUHVWUH\0DUtWLPD
F7HUUHVWUH0DUtWLPD\$pUHD
(O3UHVLGHQWHGHOD&RPLVLyQHVHOHJLGRSRU
D/RV-HIHVGH*RELHUQRGHORV(VWDGRVPLHPEURVUHXQLGRVHQ&RQVHMR(XURSHRSUHYLD
FRQVXOWDDO3DUODPHQWR
E3RUODSURSLD&RPLVLyQ
F3RUHO3DUODPHQWR
(O3UHVLGHQWHGHO&RQVHMR(XURSHRFRQDUUHJORDO7UDWDGRGH/LVERDDQWH
TXLpQGHEHSUHVHQWDUXQLQIRUPHDOWpUPLQRGHFDGDUHXQLyQ"
D$OD&RPLVLyQ
E$O3DUODPHQWR
F$O7ULEXQDOGH&XHQWDV
(VLPSUHVFLQGLEOHSDUDSRGHUUHDOL]DUXQDSHUVHFXFLyQWUDQVIURQWHUL]D
D4XHHOVXMHWRIRUPHSDUWHGHXQDRUJDQL]DFLyQFULPLQDO
E4XHHOGHOLWRFRPHWLGRSXHGDGDUOXJDUDODH[WUDGLFLyQ
'HVGHTXHHQWUyHQYLJRUHO7UDWDGRGH/LVERDHO&RQVHMR(XURSHRVHUH
XQLUi
D'RVYHFHVDOVHPHVWUH
E'RVYHFHVDODxR
F&DGDWULPHVWUH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHGHHQWUHORVVLJXLHQWHVHOORVREMHWLYRVTXHVHSURSXVLHURQFRQOD
IRUPDFLyQGHODHQWRQFHVOODPDGD&RPXQLGDG(FRQyPLFD(XURSHD&&(
D(VWDEOHFLPLHQWRGHXQDXQLyQDGXDQHUD\VXSUHVLyQGHDUDQFHOHV
E/LEHUWDGGHORVIDFWRUHVGHSURGXFFLyQDVtFRPRFRRUGLQDFLyQGHFLHUWDVSROtWLFDV
HFRQyPLFDVDUPRQL]DFLyQ\XQLILFDFLyQGHRWUDV
5HVSHFWRDODSROtWLFDH[WHULRU\GHVHJXULGDGVREUHODEDVHGHO7UDWDGRGH
PVWHUGDPORV-HIHVGH(VWDGR\GH*RELHUQRDGRSWDQJHQHUDOPHQWHSRUFRQVHQ
VRHVWUDWHJLDVFRPXQHVSDUDRULHQWDUODDFFLyQGHOD8QLyQSHURTXLpQGHFLGH
ODVDFFLRQHVDWRPDU"
D(O&RQVHMR
E/D&RPLVLyQ
F(O3DUODPHQWR
(O VLVWHPD VHJXLGR HQ OD FUHDFLyQ GH OR TXH KR\ FRQRFHPRV FRPR 8QLyQ
(XURSHDIXHVLQWHWL]DGRHQODFpOHEUHIUDVH(XURSDQRVHKDUiGHJROSHQLHQXQD
FRQVWUXFFLyQGHFRQMXQWRVHKDUiPHGLDQWHUHDOL]DFLRQHVFRQFUHWDVFUHDQGRSUL
PHURXQDVROLGDULGDGGHKHFKRTXHIXHSURQXQFLDGDSRU
D.RQUDG$GHQDXHU
E&KDUOHVGH*DXOOH
F5REHUW6FKXPDQQ
(O7UDWDGRGHOD8QLyQ(XURSHDVHFRQRFHFRQHOQRPEUHGH7UDWDGRGH
D5RPD
E0DDVWULFKW
F%UXVHODV
(O GH PD\R GH ORV -HIHV GH (VWDGR R GH *RELHUQR GH ORV SDtVHV
SHUWHQHFLHQWHV D OD 8QLyQ (XURSHD DFRUGDURQ ORV UHTXLVLWRV QHFHVDULRV SDUD OD
HQWUDGDHQHOiUHDGHO(852TXpSDtVHVQRORJUDURQFXPSOLUORVRDSHVDUGH
FXPSOLUORVQRGHVHDURQHQHVHPRPHQWRHQWUDUHQGLFKDiUHD"
D(VSDxD/X[HPEXUJR3RUWXJDO\)LQODQGLD
E$XVWULD,WDOLD+RODQGD\%pOJLFD
F5HLQR8QLGR6XHFLD\'LQDPDUFD
$FWXDOPHQWHHQHO&RQVHMRGH0LQLVWURVGHOD8QLyQ(XURSHDORVYRWRVTXH
FRUUHVSRQGHQD(VSDxDVRQ
D
E
F
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O'HUHFKR&RPXQLWDULRTXHHVGHFDUiFWHUSDUWLFXODUHQVXDVLJQDFLyQ\
REOLJDWRULRHQWRGRVVXVHOHPHQWRVSDUDVXFRQVHFXFLyQHV
D8QD'LUHFWLYD
E8QD'HFLVLyQ
F8QD5HFRPHQGDFLyQ
6HJ~QHO&RQYHQLRGH6FKHQJHQORV$JHQWHVDXWRUL]DGRVHQ(VSDxDDHMHU
FHUODVYLJLODQFLDVWUDQVIURQWHUL]DVVRQ
D/RVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD\GHO&XHUSRGHOD*XDUGLD&LYLO
E/RVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDGHO&XHUSRGHOD*XDUGLD&LYLO\GH
9LJLODQFLD$GXDQHUD
F/RVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDGHO&XHUSRGHOD*XDUGLD&LYLO$GXD
QDV\ODV3ROLFtDV$XWRQyPLFDV\0XQLFLSDOHV
'HHQWUHORVVLJXLHQWHVVHxDOHTXpSDtVHVLQJUHVDURQGHSOHQRGHUHFKRHQ
OD8QLyQ(XURSHDHOGHHQHURGH
D%XOJDULD\5XPDQLD
E(VORYHQLD\(VWRQLD
F5HS~EOLFD&KHFD\+XQJUtD
&yPRVHGHVLJQDQORVPLHPEURVGHO3DUODPHQWR(XURSHR"
D3RUHO&RQVHMRGH0LQLVWURV
E3RUVXIUDJLRXQLYHUVDO\GLUHFWRHQFDGD(VWDGRPLHPEUR
F3RUORV*RELHUQRVGHORV(VWDGRVPLHPEURVGHFRP~QDFXHUGR
/DV QRUPDV FRPXQLWDULDV TXH REOLJDQ DO (VWDGR PLHPEUR GHVWLQDWDULR HQ
FXDQWRDOUHVXOWDGRTXHGHEDFRQVHJXLUVHFRQGLFKDVQRUPDVGHMDQGRDODVDXWR
ULGDGHVQDFLRQDOHVODHOHFFLyQGHODIRUPD\GHORVPHGLRVSDUDORJUDUOR\UHTXL
ULHQGR OD LQWHUYHQFLyQ OHJLVODWLYD R QRUPDWLYD GH ORV (VWDGRV PLHPEURV SDUD VHU
WUDQVIRUPDGDVHQ'HUHFKRLQWHUQRVHODVGHQRPLQD
D5HFRPHQGDFLRQHV
E'LUHFWLYDV
F5HJODPHQWRVHMHFXWLYRV
&XiOHQWUHODVVLJXLHQWHVPDWHULDVQRHVFRPSHWHQFLDGH(XURSRO"
D3HUVHFXFLyQGHOH[WHUPLQLRGHUD]DV\JHQRFLGLR
E7UiILFRGHGURJDV
F7UiILFRGHPDWHULDOUDGLRDFWLYR
(O$FWDQLFD(XURSHDHVWDEOHFHFRPRREMHWLYRSULRULWDULRGHOD8QLyQ(XUR
SHDODFUHDFLyQGHXQPHUFDGRLQWHULRUTXHJDUDQWL]D
D(OFUXFHGHIURQWHUDVLQWHULRUHVVLQFRQWUROHVSHFtILFR
E/DOLEUHFLUFXODFLyQGHSHUVRQDVPHUFDQFtDVVHUYLFLRV\FDSLWDOHV
F/DVXSUHVLyQJUDGXDOGHFRQWUROHVHQODVIURQWHUDVFRPXQHVHLQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpHVHO9DGHPpFXPGHOD&RRSHUDFLyQ3ROLFLDO7UDQVIURQWHUL]D"
D8QGRFXPHQWRTXHFRQWLHQHORVSULQFLSLRVGH(XURSRO
E8QFRQMXQWRGHQRUPDVTXHUHJXODQODFRRSHUDFLyQSROLFLDOHQODVIURQWHUDVGHOD
8QLyQ(XURSHD
F8QFRQMXQWRGHQRUPDVTXHUHJXODQODYLJLODQFLDWUDQVIURQWHUL]D\ODSHUVHFXFLyQHQ
FDOLHQWHHQODVIURQWHUDVGHORVSDtVHV6FKHQJHQ
/DPDWHULDSHQDOHVWiUHFRJLGDHQODQRUPDWLYDGHOD8QLyQ(XURSHDEDMRHO
HStJUDIHGHORVDUWtFXORV
D.
E*
F)
8QRGHORVVLJXLHQWHVDFXHUGRVLQWHUQDFLRQDOHVQRFRQVWLWX\HDQWHFHGHQWH
GHOD&RPXQLGDG(XURSHD'LJDFXiO
D&RPXQLGDG(FRQyPLFDGHO&DUEyQ\GHO$FHURGH
E7UDWDGRGH%HUOtQGH
F7UDWDGRGH5RPDGH
/RVFUpGLWRVFRPXQLWDULRVGHO)RQGR6RFLDO(XURSHRVRQDGPLQLVWUDGRVSRU
D/D&RPLVLyQ
E(O7ULEXQDOGH&XHQWDV
F(O&RQVHMR
&XiOIXHHOSUHFHGHQWHSULPDULRGHODKR\8QLyQ(XURSHD"
D/D&RPXQLGDG(XURSHDGHO&DUEyQ\GHO$FHUR&(&$
E/D&RPXQLGDG(FRQyPLFD(XURSHD&((\OD&RPXQLGDG(XURSHDGH(QHUJtD$Wy
PLFD(85$720
F/D&RPXQLGDG(FRQyPLFD(XURSHD&((
(O3DUODPHQWR(XURSHRWLHQHVXVHGHHQODFLXGDGGH
D(VWUDVEXUJR
E%UXVHODV
F/X[HPEXUJR
$ODPSDURGHO&RQYHQLRGH6FKHQJHQ\HQHOFDVRGHODVOODPDGDVSHUVH
FXFLRQHVHQFDOLHQWHVHxDOHODUHVSXHVWDFRUUHFWD
D4XHODSHUVHFXFLyQSRGUiGXUDUKDVWDODGHWHQFLyQGHODSHUVRQDSHUVHJXLGD
E4XHSRGUiQUHDOL]DUVHSRUFXDOTXLHUWLSRGHGHOLWRJUDYH
F4XHORV$JHQWHVSHUVHJXLGRUHVQRSRGUiQLQWHUURJDUDODSHUVRQDSHUVHJXLGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(Q HO 3DUODPHQWR (XURSHR \ FRQFUHWDPHQWH VX 3UHVLGHQWH SRU FXiQWR
WLHPSRVHHOLJH"
D3RUFXDWURDxRV
E3RUGRVDxRV\PHGLR
F3RUWUHVDxRV
'HHQWUHODVVLJXLHQWHVTXp,QVWLWXFLyQ(XURSHDQRPEUDDO'HIHQVRUGHO
3XHEOR(XURSHR"
D(O3DUODPHQWR
E/D&RPLVLyQ
F(O7ULEXQDOGH-XVWLFLD(XURSHR
(QWUHORV5HJODPHQWRV'LUHFWLYDV'HFLVLRQHV5HFRPHQGDFLRQHV\'LFWiPH
QHVGHOD8QLyQ(XURSHDQRVRQLPSXJQDEOHVDQWHHO7ULEXQDOGH-XVWLFLD(XURSHR
D/RV5HJODPHQWRV\ORV'LFWiPHQHV
E/RV'LFWiPHQHV\ODV5HFRPHQGDFLRQHV
F([FOXVLYDPHQWHORV5HJODPHQWRV
/DVFRPSHWHQFLDVVREUHDVSHFWRVGHUHVSRQVDELOLGDGH[WUDFRQWUDFWXDOGH
OD8QLyQ(XURSHDODVWLHQH
D(O7ULEXQDOGH-XVWLFLD(XURSHR
E/D3UHVLGHQFLD&RPXQLWDULDGLUHFWDPHQWH
F(O3DUODPHQWR
&XiQWRV-XHFHVWLHQHHO7ULEXQDOGH-XVWLFLD(XURSHR"
D
E
F
(85232/TXpWLSRGH3ROLFtDHV"
D8Q3ROLFtD,QWHUQDFLRQDO
E8QD3ROLFtDRSHUDWLYDHQORVSDtVHVGHOD8QLyQ(XURSHD
F8QyUJDQRGHFRRSHUDFLyQSROLFLDOHQWUHORV(VWDGRVGHOD8QLyQ(XURSHD
/RVPLHPEURVGHO3DUODPHQWR(XURSHRHVWiQDJUXSDGRV
D3RUSDtVHV
E3RUSDtVHV\GHQWURGHFDGDSDtVSRUORVJUXSRVSROtWLFRVDORVTXHSHUWHQHFHQ
F3RUJUXSRVSROtWLFRVRUJDQL]DGRVHQHOSODQRFRPXQLWDULR
(O&RQVHMRGH(XURSDQDFLyHQHO&RQJUHVRGH
D+HOVLQNL
E/D+D\D
F3DUtV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVDXWRULGDGHVHVSDxRODVSXHGHQLQYHVWLJDUHQ)UDQFLDDXQGHOLQFXHQWH
HVSDxROKXLGRDOYHFLQRSDtVSRUXQVXSXHVWRGHOLWRGHHVWDID"
D1RHQQLQJ~QFDVRGHHVWDID
E6tSHURODHVWDIDKDGHELGRSURYRFDUJUDQDODUPDVRFLDO
F6tHQYLUWXGGHODSHUWHQHQFLDGH)UDQFLD\(VSDxDDOD8QLyQ(XURSHD
/DVHGHGHO7ULEXQDOGH&XHQWDVHVODFLXGDGGH
D%UXVHODV
E/X[HPEXUJR
F(VWUDVEXUJR
4Xp,QVWLWXFLyQGHOD8QLyQ(XURSHDSXHGHLQLFLDUSURFHGLPLHQWRVDQWHODV
SRVLEOHVLQIUDFFLRQHVGHO'HUHFKR&RPXQLWDULR"
D/D&RPLVLyQ
E(O7ULEXQDOGH-XVWLFLD(XURSHR
F(O&RQVHMR(XURSHR
/DIRUPDFLyQGHOD&RPXQLGDG(FRQyPLFD(XURSHD&((\GHO(85$720
VHFRQVWLWX\HURQSRUORV7UDWDGRVGH
D5RPD
E0DDVWULFKW
F/D+D\D
(OSULQFLSDOyUJDQRILVFDOL]DGRUGHODVFXHQWDVGHOD8QLyQ(XURSHDHV
D/D&RPLVLyQ
E(O&RQVHMR
F(O7ULEXQDOGH&XHQWDV
4XpDSRUWyIXQGDPHQWDOPHQWHHO$FWDQLFD(XURSHD"
D/DPRGLILFDFLyQGHOSURFHGLPLHQWRGHWRPDGHGHFLVLyQHQHO&RQVHMR
E8QDQXHYDFRKHVLyQHFRQyPLFD\VRFLDODWUDYpVGHORVIRQGRVHVWUXFWXUDOHVSDUD
FRQVHJXLUODQRUPDOL]DFLyQLPSRVLWLYDHQORVSDtVHVGHOD8QLyQ(XURSHD
F7RGRORDQWHULRU
'HHQWUHODVVLJXLHQWHVUHVSXHVWDVXQDGHHOODVQRVHFRQVLGHUDFRPR,QV
WLWXFLyQGHOD8QLyQ(XURSHD
D(O7ULEXQDOGH&XHQWDV
E/D&RPLVLyQ
F(O&RPLWpGHODV5HJLRQHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQHVIRUPDQHO&RQVHMR(XURSHR"
D/RV-HIHVGH(VWDGRRGH*RELHUQRGHFDGDSDtVPLHPEUR
E/RV0LQLVWURVGH(FRQRPtD\HO3UHVLGHQWHGHO3DUODPHQWR
F/RV3UHVLGHQWHVGHOD&RPLVLyQGHO3DUODPHQWR\GHO7ULEXQDOGH&XHQWDV
8QD YLJLODQFLD LQLFLDGD HQ XQ (VWDGR 6FKHQJHQ SXHGH SURORQJDUVH HQ HO
WHUULWRULR GH RWUR (VWDGR 6FKHQJHQ SRU HO SURFHGLPLHQWR RUGLQDULR KDELpQGRVH
SUHVHQWDGRSUHYLDPHQWHXQDVROLFLWXGGHDVLVWHQFLDMXGLFLDOFXDQGRVHFXPSOD
D4XHHVWpHQPDUFKDXQDLQYHVWLJDFLyQMXGLFLDO\TXHHOKHFKRSUHVXQWDPHQWHFRPH
WLGRSRUODSHUVRQDYLJLODGDSXHGDGDUOXJDUDODH[WUDGLFLyQ
E4XHHO(VWDGRUHTXHULGRKD\DDXWRUL]DGRODYLJLODQFLDHQODVFRQGLFLRQHVHQVXFDVR
HVWDEOHFLGDV
F6HKDQGHFXPSOLUWRGDVODVFRQGLFLRQHVDQWHULRUHV
&RQODHQWUDGDHQYLJRUGHO7UDWDGRGH0DDVWULFKWHO*UXSRGH&RRUGLQDGR
UHV/LEUH&LUFXODFLyQGH3HUVRQDVR*UXSRGH5RGDVVHFRQYLUWLyHQHO
D&RPLWpGH$SR\RSUHYLVWRHQHODUWtFXOR.
E&RPLWpGH&RRUGLQDFLyQSUHYLVWRHQHODUWtFXOR.
F&RPLWpGH$\XGDDOD,QPLJUDFLyQSUHYLVWRHQHODUWtFXOR.
/D3UHVLGHQFLDGHOD&RPLVLyQVHJXLUiGHVLJQiQGRVHSRUORV-HIHVGH(VWDGR
RGH*RELHUQRSHURVXQRPEUDPLHQWRQRVHUiHIHFWLYRKDVWDTXHGpVXFRQIRUPLGDG
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
(O$FXHUGRGH6FKHQJHQVXVFULWRSRU(VSDxD\RWURVSDtVHVGHOD8QLyQ(X
URSHDKDFHUHIHUHQFLDDOD
D8QLILFDFLyQGHODOXFKDFRQWUDODGURJD
E6XSUHVLyQJUDGXDOGHORVFRQWUROHVHQODVIURQWHUDVFRPXQHV
F6XSUHVLyQGHORVSDVDSRUWHVHQORV(VWDGRVPLHPEURVGHOD8QLyQ(XURSHD
&DGD(VWDGRILUPDQWHGHO$FXHUGR6FKHQJHQ\FRQLQGHSHQGHQFLDGHORV
DVHVRUHVTXHFRQVLGHUHQHFHVDULRVFXiQWRVUHSUHVHQWDQWHVDSRUWDDO&RPLWp(MH
FXWLYRHQFDUJDGRGHYHODUSRUODFRUUHFWDDSOLFDFLyQGHGLFKR$FXHUGR"
D
E
F
(QODOHJLVODFLyQGHOD8QLyQ(XURSHDQRWLHQHQFDUiFWHUYLQFXODQWH
D/DV5HFRPHQGDFLRQHV\ORV'LFWiPHQHV
E/RV5HJODPHQWRV
F/DV'LUHFWLYDV\ODV'HFLVLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QYLUWXGGHO$FXHUGR6FKHQJHQ
D /DV IURQWHUDV FRPXQHV VH SRGUiQ FUX]DU OLEUHPHQWH VDOYR WHPSRUDOHV \ FRQWDGDV
H[FHSFLRQHVFRQFRQRFLPLHQWRGHORVUHVWDQWHV(VWDGRVGHOD8QLyQ
E6HWHQGHUiDXQDSROtWLFDFRP~QHQHOUpJLPHQGHYLVDGRVDFHSWDQGRHOFRPSURPLVR
GHDVLVWHQFLDPXWXDMXGLFLDOHQPDWHULDSHQDO
(VSDxD KD ILUPDGR FRQ 3RUWXJDO \ )UDQFLD OD SRVLELOLGDG GH SHUVHFXFLyQ
WUDQVIURQWHUL]D R SHUVHFXFLyQ HQ FDOLHQWH GH XQ GHOLQFXHQWH HQ HO PDUFR GHO
$FXHUGR 6FKHQJHQ /OHJDGR HO FDVR VHxDOH GH HQWUH ODV VLJXLHQWHV OD UHVSXHVWD
FRUUHFWD
D/RVDJHQWHVSHUVHJXLGRUHVQRSRGUiQLQWHUURJDUDODSHUVRQDSHUVHJXLGD\ODVSHUVH
FXFLRQHVVyORSRGUiQUHDOL]DUVHSDUDORVWLSRVGHLQIUDFFLRQHVFRQWHPSODGDVHQHO&RQYHQLR
E(QUpJLPHQGHUHFLSURFLGDGORVDJHQWHVIUDQFHVHVSHUVHJXLGRUHVSRGUiQSHQHWUDU
HQWHUULWRULRHVSDxROKDVWDXQDGLVWDQFLDGHNPGHODIURQWHUD\ORVDJHQWHVSRUWXJXH
VHVSHUVHJXLGRUHVORSRGUiQKDFHUKDVWDXQDGLVWDQFLDGHNPRELHQODSHUVHFXFLyQHQ
WHUULWRULRHVSDxROSRGUiGHVDUUROODUVHGXUDQWHXQPi[LPRGHGRVKRUDVHQDPERVFDVRV
(O6LVWHPDGH,QIRUPDFLyQ6FKHQJHQVHGHFODUySOHQDPHQWHRSHUDWLYRHO
DGHPDU]RGH
EGHPD\RGH
FGHHQHURGH
$LQLFLDWLYDGHTXpSDtVVHFUHyHQVXGtDHO*UXSRGH3ROLFtD7pFQLFD\
&LHQWtILFDGHQWURGHO*UXSRGH&RRSHUDFLyQ3ROLFLDO(XURSHR"
D'H$OHPDQLD
E'H(VSDxD
F'H)UDQFLD
'HQWURGHO$FXHUGR6FKHQJHQOD2ILFLQD6,5(1(
D6HHQFDUJDGHLQWHUFDPELDULQIRUPDFLyQGHLQWHUpVQDFLRQDO
E$FWXDOL]D\VHOHFFLRQDLQIRUPDFLRQHVUHODFLRQDGDVFRQHO$FXHUGR6FKHQJHQ
F6HHQFDUJDGHOLQWHUFDPELRGHLQIRUPDFLyQFRPSOHPHQWDULD
4XLpQDSUXHEDORV5HJODPHQWRV\ODV'LUHFWLYDVGHOD8QLyQ(XURSHD"
D6yORHO&RQVHMR
E6yOROD&RPLVLyQ
F/D&RPLVLyQ\HO&RQVHMR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D2ILFLQD(XURSHDGH3ROLFtD(85232/HVWiHQFXDGUDGDGHQWURGHO*UXSR
'LUHFWRU
D,
E,,
F,,,
/DVPHGLGDVHQHOiPELWRGHODYLJLODQFLDGHOWUiILFRDpUHRVHHQFXDGUDQ
GHQWURGHODVFRPSHWHQFLDVGHO*UXSR
D7HUURULVPR
E&RRSHUDFLyQ$GXDQHUD
F'URJDV\'HOLQFXHQFLD2UJDQL]DGD
/DVHGHGHOD&RPLVLyQHVODFLXGDGGH
D/X[HPEXUJR
E%UXVHODV
F(VWUDVEXUJR
(O$FXHUGRGH6FKHQJHQVHLQWHJUyHQOD8QLyQ(XURSHDDWHQRUGHO7UD
WDGRGH
D0DDVWULFKW
EPVWHUGDP
F5RPD
(O7UDWDGRGHPVWHUGDPFRQWHPSOyODFUHDFLyQGHXQ&RPLWpGHO(PSOHR
TXH DVLVWLUi D ODV ,QVWLWXFLRQHV HQ HVWD PDWHULD HQWUH HOODV DO &RQVHMR (XURSHR
TXHHODERUDUiODVOtQHDVGLUHFWULFHVSDUDORV(VWDGRVPLHPEURVDSURSXHVWDGHOD
&RPLVLyQ\SUHYLDFRQVXOWD
D$O3DUODPHQWR
E$O&RPLWp(FRQyPLFR\6RFLDO\DO&RPLWpGHODV5HJLRQHV
F$WRGRVORVDQWHULRUHV
(O7UDWDGRGHPVWHUGDPDSRUWyODGHPRFUiWLFDQRYHGDGGHTXHOD3UHVL
GHQFLDGHOD&RPLVLyQVHJXLUiGHVLJQiQGRVHSRUORV-HIHVGH(VWDGR\GH*RELHUQR
SHURVXQRPEUDPLHQWRQRVHUiHIHFWLYRKDVWDTXHGpVXFRQIRUPLGDG
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
4XpSDtVGHHQWUHORVVLJXLHQWHVDIHFKDQRHVWiDGKHULGRWRGDYtD
DO$FXHUGR6FKHQJHQ"
D+RODQGD
E%pOJLFD
F*UDQ%UHWDxD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHO*UXSR'LUHFWRU,,ODOXFKDFRQWUDHOEODQTXHRGHGLQHURHVFRPSH
WHQFLDGHO*UXSRGHQRPLQDGR
D'URJDV\'HOLQFXHQFLD2UJDQL]DGD
F&RRSHUDFLyQ3ROLFLDO
(O6LVWHPDGH,QIRUPDFLyQ6FKHQJHQ6,6
D+DFHGHLQWHUPHGLDULRGHLQIRUPDFLyQHQHOPDUFRHXURSHR
E(MHFXWDHOLQWHUFDPELRUHFtSURFRGHLQIRUPDFLRQHVUHODWLYDVDSHUVRQDV\REMHWRV
F'DHOYLVWREXHQRDORVSDVDSRUWHVGHSHUVRQDVH[WUDFRPXQLWDULDV
(QORVRUtJHQHVGHODFUHDFLyQGHODXQLGDGHXURSHDDSDUHFLHURQFULWHULRV
HQFRQWUDGRVVHxiOHORVGHHQWUHORVVLJXLHQWHV
D8QDVLPSOHFRRSHUDFLyQLQWHUHVWDWDOVLQLQMHUHQFLDVHQODVREHUDQtDGHFDGD(VWDGR
PLHPEUR
E8QDLQWHJUDFLyQGHFDUiFWHUIHGHUDO
(O$FWDQLFD(XURSHDVHILUPyHQODUHXQLyQFXPEUHGH
D0LOiQ
E+HOVLQNL
F5RPD
/DOODPDGDSHUVHFXFLyQHQFDOLHQWHVHOOHYDUiDFDER
D5HVSHWDQGRHO'HUHFKRLQWHUQRGHOSDtVHQFX\RWHUULWRULRVHHVWpDFWXDQGR\H[FOX
VLYDPHQWHSRUODVIURQWHUDVWHUUHVWUHV
E3RUWDQGRFRQVLJRORV$JHQWHVDFWXDQWHVVXWDUMHWDDFUHGLWDWLYD\VLHQGRIiFLOPHQWH
LGHQWLILFDEOHV
(QODDFWXDO8QLyQ(XURSHDTXpyUJDQRGHHQWUHORVVLJXLHQWHVKDVLGRHO
~OWLPRHQDOFDQ]DUODFDUDFWHUL]DFLyQRILFLDOGH,QVWLWXFLyQ"
D/D&RPLVLyQ
F(O7ULEXQDOGH-XVWLFLD(XURSHR
'HHQWUHODVVLJXLHQWHVFXiOHVVRQIXQFLRQHVGHO3DUODPHQWR(XURSHR"
D/DFDSDFLGDGGHLPSRQHUIXHUWHVVDQFLRQHVHFRQyPLFDVDORV(VWDGRVPLHPEURVHQ
UHODFLyQFRQODDSOLFDFLyQGHO'HUHFKRFRPXQLWDULR
E(OHMHUFLFLRGHIDFXOWDGHVGHFLVRULDVSURSLDVHQWRGRORSUHYLVWRSRUORV7UDWDGRV\VHU
HOVXSUHPRyUJDQRILVFDOL]DGRUGHODJHVWLyQHFRQyPLFDGHOD8QLyQ(XURSHD
F1LQJXQDUHVSXHVWDGHODVGRVDQWHULRUHVHVFLHUWD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D&RPLVLyQGH3HWLFLRQHVHQFDUJDGDGHH[DPLQDU\FXUVDUODVVROLFLWXGHV
SUHVHQWDGDVSRUORVFLXGDGDQRVGHOD8QLyQ(XURSHDGHSHQGH
D'HOD&RPLVLyQ
E'HO3DUODPHQWR
F'HO7ULEXQDOGH-XVWLFLD(XURSHR
7DQWRSDUDODFRQFOXVLyQGHDFXHUGRVGHDVRFLDFLyQFRPRGHDGKHVLyQGH
QXHYRVPLHPEURVHVQHFHVDULRHO'LFWDPHQFRQIRUPHGH
D/D&RPLVLyQ
E(O&RQVHMR(XURSHR
F(O3DUODPHQWR
/RV-XHFHV\$ERJDGRV*HQHUDOHVDIHFWRVDO7ULEXQDOGH-XVWLFLD(XURSHR
VRQQRPEUDGRVSRUXQSHUtRGRGH
D6HLVDxRV
E&LQFRDxRV
F&XDWURDxRV
&XiQWRV9LFHSUHVLGHQWHVVHLQWHJUDQHQOD0HVDGHO3DUODPHQWR(XURSHR"
D&DWRUFH
E'LH]
F1XHYH
(O 7UDWDGR GH PVWHUGDP LQWHJUD HO &RQYHQLR GH 6FKHQJHQ HQ HO PDUFR
LQVWLWXFLRQDO~QLFRGHOD8QLyQ\DVtORV(VWDGRVPLHPEURVLPSOLFDGRVSURVHJXLUiQ
VXFRRSHUDFLyQGHQWURGHOPDUFRMXUtGLFRGHOQXHYR7UDWDGRDSOLFDQGRODOODPDGD
D$FWXDFLyQFRQMXQWD
E&RRSHUDFLyQUHIRU]DGD
F&OiXVXODGHVHJXULGDG
/D8QLyQ(XURSHDVHEDVDHQORVSULQFLSLRVGHOLEHUWDGGHPRFUDFLDUHVSHWR
GHORVGHUHFKRVKXPDQRV\OLEHUWDGHVIXQGDPHQWDOHVDVtFRPRGHO(VWDGRGH'H
UHFKRFRQLQGHSHQGHQFLDGHDFXGLUDO7ULEXQDOGH-XVWLFLD(XURSHRTXpRUJDQLVPR
HXURSHRHVHOHQFDUJDGRGHFRQWURODUHOSRVLEOHFDVRGHYLRODFLyQJUDYH\SHUVLV
WHQWHSRUSDUWHGHXQ(VWDGRPLHPEURGHHVWRVGHUHFKRV"
D(O&RQVHMR(XURSHR
E/RV$ERJDGRV*HQHUDOHV
F(O3DUODPHQWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
7RGDUHFODPDFLyQDQWHHO'HIHQVRUGHO3XHEOR(XURSHRGHEHUiSUHVHQWDUVH
DSDUWLUGHODIHFKDHQTXHVHKD\DQFRQRFLGRORVKHFKRVREMHWRGHODPLVPDHQHO
SOD]RGH
D8QDxR
E'RVDxRV
F7UHVDxRV
/RVSDtVHVPLHPEURVGHOD8QLyQ(XURSHDHQYtDQVXV2ILFLDOHVGH(QODFHGH
(XURSRODXQHPSOD]DPLHQWRFHQWUDOFRQVHGHHQ
D%UXVHODV
E/D+D\D
F3DUtV
(QTXpFRQVLVWHHO$FXHUGRGH6FKHQJHQ"
D(VXQ7UDWDGRTXHGLROXJDUDODXQLILFDFLyQPRQHWDULDGHOD8QLyQ(XURSHD
E(VHODFXHUGRTXHILMDODVFRQGLFLRQHVSDUDODDGPLVLyQGHQXHYRVPLHPEURVHQOD
8QLyQ(XURSHD
F(VXQDFXHUGRLQWHUJXEHUQDPHQWDOHQWUH(VWDGRVPLHPEURVGHOD8QLyQ(XURSHDSDUD
ORJUDUODSURJUHVLYDVXVSHQVLyQGHORVFRQWUROHVVREUHFLUFXODFLyQGHSHUVRQDV\PHUFDQFtDV
HQODVIURQWHUDVFRPXQHV
4XpUHFXUVRVHQWUHRWURVVHSXHGHQSUHVHQWDUDQWHHO7ULEXQDOGH-XVWLFLD
(XURSHR"
D 'H LQFXPSOLPLHQWR GH DQXODFLyQ \ GH FRQWURO GH FRQVWLWXFLRQDOLGDG GH 7UDWDGRV
,QWHUQDFLRQDOHV
E'HFDUHQFLD\GHUHVSRQVDELOLGDGH[WUDFRQWUDFWXDO
/DFRPSRVLFLyQSHUVRQDOGHO&RQVHMRGHOD8QLyQ(XURSHDSXHGHYDULDUHQ
ODVGLIHUHQWHVVHVLRQHVHQODVTXHORV(VWDGRVSDUWLFLSDQWHVVRQUHSUHVHQWDGRVSRU
GLVWLQWRVPLHPEURVGHVXVUHVSHFWLYRV*RELHUQRVVLELHQVXVUHSUHVHQWDQWHVPiV
IUHFXHQWHV\FRQVLGHUDGRVFRPRSULQFLSDOHVVRQ
D/RV0LQLVWURVGH(FRQRPtD\+DFLHQGD
E/RV0LQLVWURVGH$VXQWRV([WHULRUHV
F/RV9LFHSUHVLGHQWHVGHORV*RELHUQRV
/DGHVLJQDFLyQGHOD6HFUHWDUtD*HQHUDOGHO&RQVHMRGHOD8QLyQ(XURSHD
VHKDFHSRU
D8QDQLPLGDG
E0D\RUtDDEVROXWD
F0D\RUtDGHGRVWHUFLRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6REUHODEDVHGHO7UDWDGRGHPVWHUGDPHO3DUODPHQWR(XURSHRWLHQHIXQ
FLRQHV
D&RQVXOWLYDVOHJLVODWLYDVHLQIRUPDWLYDV
E/HJLVODWLYDVGHOLEHUDQWHV\RSHUDWLYDV
F/HJLVODWLYDVHMHFXWLYDV\GHOLEHUDQWHV
(OFDUJRGH$OWR5HSUHVHQWDQWHGHOD8QLyQSDUDOD3ROtWLFD([WHULRU\GH
6HJXULGDG&RP~Q3(6&\FX\RWLWXODUIXHGHVLJQDGRHQHO&RQVHMRGH&RORQLDVH
FUHyDODPSDURGHO7UDWDGRGH
D5RPD
E0DDVWULFKW
FPVWHUGDP
&KDUOHV*LGHIXHHOSULPHU3UHVLGHQWHGH
D/D$VRFLDFLyQSDUDOD8QLyQ(FRQyPLFD(XURSHD
E/D8QLyQ3DQHXURSHD
F/D$VRFLDFLyQ&XOWXUDO(XURSHD
/DGHPDQGDSRUODTXHVHLQLFLDODIDVHHVFULWDDQWHHO7ULEXQDOGH-XVWLFLD
(XURSHRSRUTXLpQGHEHLUILUPDGD"
D3RUXQ$ERJDGRHQHMHUFLFLRRXQ3URIHVRUXQLYHUVLWDULR
E3RUXQ3URFXUDGRUGHORV7ULEXQDOHV
F1DGDGHORDQWHULRUHVFLHUWR
(O7UDWDGRGHPVWHUGDPWXYRFRPRREMHWLYR
D+DFHUGHOHPSOHR\GHORVGHUHFKRVGHORVFLXGDGDQRVHOHMHGHOD8QLyQORJUDQGR
KDFHUPiVHILFD]ODDUTXLWHFWXUDLQVWLWXFLRQDOGHOD8QLyQ(XURSHDFRQPLUDVDODVSUy[LPDV
DPSOLDFLRQHVFRQQXHYRVPLHPEURV
E6XSULPLUORV~OWLPRVREVWiFXORVDODOLEUHFLUFXODFLyQUHIRU]DUODVHJXULGDG\KDFHU
TXHODYR]GH(XURSDVHRLJDPHMRUHQHOPXQGR
F7RGRVORVFRQWHQLGRVDQWHULRUHVVRQFLHUWRV
6HxDOHODUHVSXHVWDFRUUHFWDHO3DUODPHQWR(XURSHRHMHUFHFRPSHWHQFLDV
D/HJLVODWLYDV\SUHVXSXHVWDULDV
E'HFRQWUROGHPRFUiWLFR
F7RGDVODVDQWHULRUHV
(QOD8QLyQ(XURSHDTXLpQILMDHOLQWHUpVGHOGLQHURDFRUWRSOD]R"
D(O7ULEXQDOGH&XHQWDV
E(O%DQFR&HQWUDO(XURSHR
F(O%DQFR(XURSHRGH,QYHUVLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OPi[LPRSRGHUGHFLVRULR\QRUPDWLYRGHOD8QLyQ(XURSHDORRVWHQWD
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
(QODFXPEUHGH-HIHVGH(VWDGRRGH*RELHUQRFHOHEUDGDHQ(VSDxD%DU
FHORQDPDU]R\FRQUHODFLyQDOHPSOHRVHFRQILUPyODDQVLDGDPHWDGH
FUHDUHQOD8QLyQ(XURSHDSDUDHODxRFXiQWRVSXHVWRVGHWUDEDMR"
DPLOORQHV
EPLOORQHV
FPLOORQHV
8QDSUHWHQVLyQGHO7UDWDGRGHPVWHUGDPIXHDQWLFLSDUVHDODVFULVLV\ID
FLOLWDUDO&RQVHMRGHOD8QLyQ(XURSHDODDGRSFLyQUiSLGDGHGHFLVLRQHVDWDOHIHFWR
ODOODPDGD&pOXODGH$QiOLVLV\3UHYLVLyQVHHQFDUJDGHYLJLODUHOGHVDUUROORGHORV
DFRQWHFLPLHQWRVLQWHUQDFLRQDOHV\VXVSRVLEOHVHIHFWRVVREUHOD8QLyQ(VWD&pOXOD
HVWDUiFRPSXHVWDSRU
D'LSXWDGRVGHO3DUODPHQWRGHOD&RPLVLyQ\GHORV(VWDGRVPLHPEURV
E0LOLWDUHVHVSHFLDOLVWDVGHOD8QLyQ(XURSHD2FFLGHQWDO
F(VSHFLDOLVWDVSURFHGHQWHVGHORV(VWDGRVPLHPEURVGHO&RQVHMRGHOD&RPLVLyQ\
GHOD8QLyQ(XURSHD2FFLGHQWDO
3RUFXiQWRVDxRVVHHOLJHDO3UHVLGHQWHGHO7ULEXQDOGH-XVWLFLD(XURSHR"
D3RUWUHVDxRVUHQRYDEOHV
E3RUFXDWURDxRVUHQRYDEOHV
F3RUFLQFRDxRVVLQSRVLEOHUHQRYDFLyQ
(OGHPD\RGHVHILUPyHQ3DUtVHO7UDWDGR&RQVWLWXWLYRGHOD&R
PXQLGDG(XURSHDGH'HIHQVD&('HQHOTXHVHSUHYHtDODFUHDFLyQGHXQ(MpUFLWR
(XURSHRSHURTXHGyVLQHIHFWRDOQRUDWLILFDUOR
D)UDQFLD
E,WDOLD
F%pOJLFD
(ORUJDQLVPRHXURSHRGHD\XGDOODPDGR&25(3(5&RPLWpGH5HSUHVHQ
WDQWHV3HUPDQHQWHVGHSHQGHGH
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HxDOH VL H[LVWH DOJ~Q GHOLWR GH HQWUH ORVVLJXLHQWHVTXHQRSXHGDVHU

REMHWRGHSHUVHFXFLyQWUDQVIURQWHUL]DHQHOPDUFRGHO$FXHUGRGH6FKHQJHQ
D/RVGHOLWRVGHURER\HQFXEULPLHQWRFRQiQLPRGHOXFUR\UHFHSWDFLyQDVtFRPRHO
WUiILFRGHVHUHVKXPDQRV
E/RVGHOLWRVGHIXJDDUDt]GHXQDFFLGHQWHFRQUHVXOWDGRGHPXHUWHROHVLRQHVJUDYHV
F7RGRVORVDQWHULRUHVGHOLWRVSXHGHQVHUREMHWRGHSHUVHFXFLyQWUDQVIURQWHUL]D
(QOD8QLyQ(XURSHD\DQWHVX7ULEXQDOGH-XVWLFLD(XURSHRORVOODPDGRV
UHFXUVRVGLUHFWRVSXHGHQVHULQWHUSXHVWRVSRU
D/D&RPLVLyQRSRUXQ(VWDGRPLHPEURGHOD8QLyQ(XURSHD
E&XDOTXLHURWUDGHODV,QVWLWXFLRQHV&RPXQLWDULDV
(O&RQVHMR(XURSHRHVWiFRPSXHVWRSRU
D/RV-HIHVGH(VWDGRRGH*RELHUQRGHORV(VWDGRVPLHPEURV
E/RV0LQLVWURVGH$VXQWRV([WHULRUHVGHORV(VWDGRVPLHPEURV
F/RV-HIHVGH(VWDGRRGH*RELHUQRGHORV(VWDGRVPLHPEURVFRQVX3UHVLGHQWH\FRQ
HO3UHVLGHQWHGHOD&RPLVLyQ
(OPDQGDWRGHORV'LSXWDGRV(XURSHRVWLHQHXQDGXUDFLyQGH
D&LQFRDxRV
E&XDWURDxRV
F6HLVDxRV
/D,QVWLWXFLyQGHOD&RPLVLyQTXpWLSRGHyUJDQRHV"
D&ROHJLDGR\(MHFXWLYR
E8QLSHUVRQDO\(MHFXWLYR
F8QLSHUVRQDO\/HJLVODWLYR
6HxDOHGHHQWUHODVVLJXLHQWHVUHVSXHVWDVODTXHQRFRQVWLWX\DXQ'HUH
FKRRULJLQDULRGHOD8QLyQ(XURSHD
D(O'HUHFKRSULPDULR
E/RV'LFWiPHQHV
F/RV7UDWDGRV&RQVWLWXWLYRVGHODV&RPXQLGDGHV(XURSHDV
(O7UDWDGRSRUHOTXHVHKL]RSHUGHUDODHQWRQFHVOODPDGD&RPXQLGDG(FR
QyPLFD(XURSHD&((OD(GH(FRQyPLFDHV
D(O7UDWDGRGHOD8QLyQ(XURSHD
E(O$FWDQLFD(XURSHD
F(O7UDWDGRGH%UXVHODV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OyUJDQRHMHFXWLYR\PRWRUGHOD8QLyQ(XURSHDTXHGHILHQGHORVLQWHUH
VHVFRPXQLWDULRVVHFRQRFHFRQHOQRPEUHGH
D7ULEXQDOGH&XHQWDV
E&RPLVLyQ
F3DUODPHQWR
(O 7UDWDGR GH PVWHUGDP FRQVROLGy ORV HQWRQFHV OODPDGRV WUHV SLODUHV
EiVLFRV GH OD 8QLyQ (XURSHD GH TXp WUDWDED FRQFUHWDPHQWH HO OODPDGR 7HUFHU
3LODU"
D'HODFRRSHUDFLyQHQORViPELWRVGHOD-XVWLFLD\GHORVDVXQWRVGH,QWHULRU
E'HOD3ROtWLFD([WHULRU\GH6HJXULGDG&RP~QGHOD8QLyQ(XURSHD
F'HOYLJHQWH6LVWHPD0RQHWDULR(XURSHR
(QHO&XHUSR1DFLRQDOGH3ROLFtDODVFRPSHWHQFLDVSDUDDFWXDUFRPR2IL
FLQD&HQWUDO1DFLRQDOGH,QWHUSRO(VSDxDGHSHQGHQGH
D/D6HFUHWDUtD*HQHUDOGHOD&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDO
E/D8QLGDG&HQWUDOGH,QWHOLJHQFLD&ULPLQDODGVFULWDDOD&RPLVDUtD*HQHUDOGH3ROLFtD
-XGLFLDO
F/D8QLGDGGH&RRSHUDFLyQ,QWHUQDFLRQDOSHUWHQHFLHQWHDOD&RPLVDUtD*HQHUDOGH
3ROLFtD-XGLFLDO
'HFXiQWRVPLHPEURVFRQVWDHO&RPLWpGHODV5HJLRQHVGHOD8QLyQ(X
URSHD"
D
E
F
6HxDOH GH HQWUH ORV VLJXLHQWHV HO GHOLWR VXVFHSWLEOH GH OD GHQRPLQDGD
YLJLODQFLDWUDQVIURQWHUL]DTXHFRQWHPSODHO$FXHUGRGH6FKHQJHQ
D+XUWR
E(VWDID
F([WRUVLyQ
(OGHDEULOGHQDFLyODSULPHUD&RPXQLGDG(XURSHDTXHIXHOD
D&RPXQLGDG(FRQyPLFD(XURSHD&((
E&RPXQLGDG(XURSHDGH(QHUJtD$WyPLFD(85$720
F&RPXQLGDG(XURSHDGHO&DUEyQ\GHO$FHUR&(&$
4XpSDtVHVFRPXQLWDULRVQRSHUWHQHFHQDOD8QLyQ(XURSHD2FFLGHQWDO"
D6XHFLDH,UODQGD
E)LQODQGLD\$XVWULD
F1LQJXQRGHORVFLWDGRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O$FWDQLFD(XURSHDHVWDEOHFLyFRPRLPSRUWDQWHVDSRUWDFLRQHVHQWUH
RWUDV
D3HUPLWLUODWRPDGHGHFLVLRQHVSRUPD\RUtDFXDOLILFDGDHQHO&RQVHMRHLQWURGXFLU
QXHYDVSROtWLFDVGHFRKHVLyQHFRQyPLFD\VRFLDOLQYHVWLJDFLyQ\GHVDUUROOR\PHGLRDP
ELHQWH
E &RRSHUDFLyQ SROtWLFD HXURSHD FRPR HVWUXFWXUD LQWHUJXEHUQDPHQWDO IXHUD GH ODV
,QVWLWXFLRQHVFRPXQLWDULDV\QRVRPHWLGDDVXVLVWHPDMXUtGLFR\MXGLFLDO
F7RGRORDQWHULRUHVFRUUHFWR
3DUDIRUPDUXQ*UXSR3ROtWLFRHQHO3DUODPHQWR(XURSHRFXiQWRV'LSXWD
GRVVRQQHFHVDULRV"
DVLSHUWHQHFHQDXQ~QLFR(VWDGRPLHPEURRELHQVLORV'LSXWDGRVSHUWHQHFHQ
DGRV(VWDGRVPLHPEURV
EVLSHUWHQHFHQDWUHV(VWDGRVPLHPEURVRELHQVLSHUWHQHFHQDFXDWURRPiV
PLHPEURV
(OGHDEULOGHOD8QLyQ(XURSHDOOHJyDODFXHUGRGHDGPLWLUHQ
IHFKDGHPD\RGHDGLH]QXHYRVSDtVHVVHxDOHODUHVSXHVWDLQFRUUHFWDSRU
KDOODUVHHQHOODDOJ~QSDtVQRLQFOXLGRHQWUHORVGLH]PHQFLRQDGRV
D3RORQLD5HS~EOLFD&KHFD\(VORYDTXLD
E0DOWD7XUTXtD\5XPDQLD
F/LWXDQLD/HWRQLD\&KLSUH
4XpSDtVGHHQWUHORVVLJXLHQWHVQRSHUWHQHFLyDODKR\8QLyQ(XURSHD
GHVGHVXIXQGDFLyQ"
D)UDQFLD
E*UDQ%UHWDxD
F+RODQGD
(O7UDWDGRGH/LVERDKDILMDGRFRPRFDQWLGDGPtQLPDGHUHSUHVHQWDQWHVGH
XQSDtVPLHPEURHQHO3DUODPHQWRHOQ~PHURGH
D6HLV
E6LHWH
F&LQFR
&RQORVUHTXLVLWRVOHJDOHVH[LJLGRVHQHO7UDWDGRGH/LVERDTXLpQSXHGH
SURYRFDUHOFHVHGHOD&RPLVLyQDWUDYpVGHODPRFLyQGHFHQVXUD"
E(O3DUODPHQWR
F8Q*UXSRGHYHLQWLFLQFR'LSXWDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
1RSDUWLFLSDHQHO&RQYHQLRGH6FKHQJHQ
D,UODQGD
E)LQODQGLD
F,VODQGLD
6HJ~QHO7UDWDGRGHPVWHUGDPHQOD8QLyQ(XURSHDODLQLFLDWLYDOHJLVOD
WLYDFRUUHVSRQGH
D$OD&RPLVLyQ
E$O3DUODPHQWR
F$DPEDV,QVWLWXFLRQHV
'yQGHWLHQHVXVHGH(85232/"
D%UXVHODV
E/D+D\D
F*LQHEUD
&RQTXp7UDWDGRVHFRQVLJXLyXQRGHORVSULQFLSDOHVREMHWLYRVFRPRHV
ODSURWHFFLyQGHORVGHUHFKRVGHORVQDFLRQDOHVGHORV(VWDGRVPLHPEURVDWUDYpV
GHODFUHDFLyQGHODFLXGDGDQtDHXURSHD"
D&RQHO7UDWDGRGH0DDVWULFKW
E&RQHO7UDWDGRGH5RPD
F&RQHO7UDWDGRGHPVWHUGDP
&XiQWRVSDtVHVGHODKR\8QLyQ(XURSHDILUPDURQHQVXVLQLFLRVHO7UD
WDGRGH5RPD"
D6HLV
E6LHWH
F2FKR
'yQGHVHILUPyODFpOHEUH$FWDQLFD(XURSHD"
D%UXVHODV
E/D+D\D
F/X[HPEXUJR
3DUDUHFLELUXQDVROLFLWXGGHDXWRUL]DFLyQSDUDLQLFLDUXQDSHUVHFXFLyQHQ
FDOLHQWHHQ(VSDxDHVFRPSHWHQWH
D/D&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDO
E/D&RPLVDUtD*HQHUDOGH,QIRUPDFLyQ
F/D'LUHFFLyQ$GMXQWD2SHUDWLYD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HSRGUiDXWRUL]DUODDFWXDFLyQGHXQ$JHQWH(QFXELHUWR
D(QODUHSUHVLyQGHXQGHOLWRGHHVWDID
E(QODUHSUHVLyQGHFXDOTXLHUFODVHGHGHOLWR
F&XDQGRVHWUDWHGHDFWLYLGDGHVSURSLDVGHODGHOLQFXHQFLDRUJDQL]DGD
(OPi[LPRyUJDQRSROtWLFRGHOD8QLyQ(XURSHDHV
D/D&RPLVLyQ
E(O3DUODPHQWR
F(O&RQVHMR
3RUTXpQRPEUHHVFRQRFLGRHO$FXHUGRILUPDGRHQ0DDVWULFKW"
D7UDWDGRGHOD&((
E7UDWDGRGHO$FWDQLFD(XURSHD
F7UDWDGRGHOD8QLyQ(XURSHD
6HJ~Q HO 7UDWDGR GH /LVERD HO 3DUODPHQWR (XURSHR HMHUFHUi OD IXQFLyQ
OHJLVODWLYD\ODIXQFLyQSUHVXSXHVWDULDFRQMXQWDPHQWHFRQ
D(O&RQVHMR
E/D&RPLVLyQ
&XiQWRVPLHPEURVIRUPDQOD&RPLVLyQ(XURSHDVHJ~QHO7UDWDGRGH/LVERD"
D8QUHSUHVHQWDQWHSRUFDGD(VWDGRPLHPEURLQFOXLGRVVX3UHVLGHQWH\HO$OWR5HSUH
VHQWDQWHGHOD8QLyQ(XURSHDSDUD$VXQWRV([WHULRUHV
E7DQWRVFRPR(VWDGRVPLHPEURVVLHQGRQRPEUDGRVSRUVXVUHVSHFWLYRV*RELHUQRV
F1LQJXQDUHVSXHVWDDQWHULRUHVFLHUWD
&RQODHQWUDGDHQYLJRUGHO7UDWDGRGH/LVERDHO7ULEXQDOGH-XVWLFLDGHOD
8QLyQ(XURSHDVHFRPSRQHGH
D(O7ULEXQDOGH-XVWLFLDHO7ULEXQDO*HQHUDO\ORV7ULEXQDOHV(VSHFLDOHV
E(O7ULEXQDOGH-XVWLFLD\HO7ULEXQDOGH3ULPHUD,QVWDQFLD
F(O7ULEXQDOGH-XVWLFLD\HO7ULEXQDOGHOD)XQFLyQ3~EOLFD
&yPRVHHOLJHDO3UHVLGHQWHGHO7ULEXQDOGH-XVWLFLD(XURSHR"
D3RUGHVLJQDFLyQGHORV-XHFHVGHO7ULEXQDO(XURSHRHQ3OHQR
E3RUGHVLJQDFLyQGHORV-HIHVGH(VWDGRRGH*RELHUQRGHORV(VWDGRVGHOD8QLyQ
(XURSHD
F/RHOLJHHO3DUODPHQWR(XURSHRSRUPD\RUtDDEVROXWD
4XpHVHO&25(3(5"
D8Q&RPLWpGHDSR\R\SUHSDUDFLyQGHWUDEDMRVGHO&RQVHMRGH0LQLVWURV(XURSHR
E8Q&RPLWpGHSDUODPHQWDULRVSHUPDQHQWH
F8QDFRPLVLyQGHUHSUHVHQWDQWHVSDUODPHQWDULRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOGHODVVLJXLHQWHVQRUPDVHVYLQFXODQWHSDUDWRGRVORV(VWDGRVPLHP
EURVGHOD8QLyQ(XURSHD"
D/RV5HJODPHQWRV
E/DV5HFRPHQGDFLRQHV
F/RV'LFWiPHQHV
&RQDUUHJORDO7UDWDGRGH/LVERDHO3UHVLGHQWHGHO&RQVHMRWHQGUiHQWUH
RWUDVODVVLJXLHQWHVIXQFLyQHV
D,PSXOVDUORVWUDEDMRVGHO&RQVHMR
E)DFLOLWDUODFRKHVLyQ\HOFRQVHQVRHQHO&RQVHMR
4XpSDtVHVILUPDQHO$FXHUGR6FKHQJHQHQ"
D%HQHOX[)UDQFLDH,WDOLD
E%HQHOX[)UDQFLD\ODHQWRQFHV5HS~EOLFD)HGHUDOGH$OHPDQLD
F%HQHOX[)UDQFLD,WDOLD\$OHPDQLD
'yQGHVHHQFXHQWUDHO6LVWHPD&HQWUDOGH,QIRUPDFLyQGH6FKHQJHQ"
D(Q/\yQ
E(Q6FKHQJHQ
F(Q(VWUDVEXUJR
/D2ILFLQD&HQWUDO(VSDxRODGHOD2,3&,QWHUSROGHSHQGHGH
D/D6HFUHWDUtD*HQHUDOGH$VXQWRV&ULPLQDOHV
E(O0LQLVWHULRGHO,QWHULRU
F/D&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDO
(QTXpDxRVHLQFRUSRUy(VSDxDFRPRPLHPEURGHSOHQRGHUHFKRDODKR\
8QLyQ(XURSHD"
D
E
F
4XpGXUDFLyQWLHQHHOFDUJRGHPLHPEURGHOD&RPLVLyQ(XURSHD"
D&XDWURDxRV
E6HLVDxRVUHQRYDEOHV
F&LQFRDxRVUHQRYDEOHV
(QTXp7UDWDGRGHOD&RPXQLGDG(FRQyPLFD(XURSHDVHFRPHQ]yDKD
EODUGHOPHGLRDPELHQWH"
D(QHO7UDWDGRGH5RPD
E(QHO$FWDQLFD(XURSHD
F(QHO7UDWDGRGHOD8QLyQ(XURSHD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$TXpSDtVGHOD8QLyQ(XURSHDOHFRUUHVSRQGHQPD\RUQ~PHURGH'LSX
WDGRV"
D$OHPDQLD
E)UDQFLD
F5HLQR8QLGR
6HxDOHGHHQWUHORVVLJXLHQWHVFXiOHVVRQyUJDQRVGH(XURSRO
D(O&RQVHMRGH$GPLQLVWUDFLyQHO'LUHFWRU\HO&RPLWp3UHVXSXHVWDULR
E(O,QWHUYHQWRU)LQDQFLHUR\OD6HFUHWDUtDGHO&RQVHMRGH$GPLQLVWUDFLyQ
F7RGRVORVDQWHULRUHV
(QHO&RQVHMRGH0LQLVWURVGH-XVWLFLD\$VXQWRVGH,QWHULRUGHOD8QLyQ
(XURSHDHQTXp*UXSR'LUHFWRUVHLQFDUGLQDQORVDVXQWRVUHODWLYRVD,QPLJUDFLyQ
\$VLOR"
D*UXSR'LUHFWRU8QR
E*UXSR'LUHFWRU'RV
F*UXSR'LUHFWRU7UHV
&XiQWRV-XHFHV\$ERJDGRV*HQHUDOHVFRQIRUPDQHO7ULEXQDOGH-XVWLFLD
(XURSHR"
D-XHFHV\$ERJDGRV*HQHUDOHV
E-XHFHV\$ERJDGRV*HQHUDOHV
F-XHFHV\$ERJDGRV*HQHUDOHV
(QHOHMHUFLFLRGHOGHUHFKRGHSHUVHFXFLyQWUDQVIURQWHUL]DSUHYLVWRHQHO
&$$6VHSHUPLWH
D/OHYDUHODUPDUHJODPHQWDULD
E,QWHUURJDUDOSHUVHJXLGR
F(QWUDUHQHOGRPLFLOLRGHSHUVRQDVMXUtGLFDV
/RVyUJDQRVGHUHSUHVHQWDFLyQ\GHFLVLyQGHOD2,3&,QWHUSROVRQ
D(OUJDQR&HQWUDOGH*RELHUQR\OD6HFUHWDUtD*HQHUDO
E/D$VDPEOHD*HQHUDOHO&RPLWp(MHFXWLYR\OD6HFUHWDUtD*HQHUDO
F(O&RPLWp(MHFXWLYR&HQWUDO\OD6HFUHWDUtD*HQHUDOGHFDGDXQRGHORVSDtVHVPLHPEURV

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
D(OGHVXEVLGLDULGDG
D8Q-XH]SRUFDGD(VWDGRPLHPEUR
E5HJODPHQWRV
EGHGLFLHPEUHGH
F5HS~EOLFD&KHFD
DPiVVX3UHVLGHQWH
F3RUORVGRVDQWHULRUHV
F3RUORVGRVDQWHULRUHVFRQMXQWDPHQWH
E0D\RUtDFXDOLILFDGD
D&XDOLILFDGD
D3RUGRVDxRV\PHGLRTXHSRGUiUHQRYDUVHSRUXQDVRODYH]

32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HVGHHOGHHQHURGH
F(O&RQVHMR
F3ROLFtD-XGLFLDO
D/\RQ
D7HUUHVWUH
D/RV-HIHVGH*RELHUQRGHORV(VWDGRVPLHPEURVUHXQLGRVHQ&RQVHMR(XURSHR
SUHYLDFRQVXOWDDO3DUODPHQWR
E$O3DUODPHQWR
E4XHHOGHOLWRFRPHWLGRSXHGDGDUOXJDUDODH[WUDGLFLyQ
D'RVYHFHVDOVHPHVWUH
D(O&RQVHMR
F5REHUW6FKXPDQQ
E0DDVWULFKW
F5HLQR8QLGR6XHFLD\'LQDPDUFD
D
E8QD'HFLVLyQ
E/RVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDGHOD*XDUGLD&LYLO\GH9LJLODQ
FLD$GXDQHUD
D%XOJDULD\5XPDQLD
E3RUVXIUDJLRXQLYHUVDO\GLUHFWRHQFDGD(VWDGRPLHPEUR
E'LUHFWLYDV
D3HUVHFXFLyQGHOH[WHUPLQLRGHUD]DV\JHQRFLGLR
E/DOLEUHFLUFXODFLyQGHSHUVRQDVPHUFDQFtDVVHUYLFLRV\FDSLWDOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E8QFRQMXQWRGHQRUPDVTXHUHJXODQODFRRSHUDFLyQSROLFLDOHQODVIURQWHUDVGH
OD8QLyQ(XURSHD
D.
E7UDWDGRGH%HUOtQGH
D/D&RPLVLyQ
D/D&RPXQLGDG(XURSHDGHO&DUEyQ\GHO$FHUR&(&$
D(VWUDVEXUJR
F4XHORV$JHQWHVSHUVHJXLGRUHVQRSRGUiQLQWHUURJDUDODSHUVRQDSHUVHJXLGD
E3RUGRVDxRV\PHGLR
D(O3DUODPHQWR
E/RV'LFWiPHQHV\ODV5HFRPHQGDFLRQHV
E
F8QyUJDQRGHFRRSHUDFLyQSROLFLDOHQWUHORV(VWDGRVGHOD8QLyQ(XURSHD
F3RUJUXSRVSROtWLFRVRUJDQL]DGRVHQHOSODQRFRPXQLWDULR
E/D+D\D
D1RHQQLQJ~QFDVRGHHVWDID
E/X[HPEXUJR
D/D&RPLVLyQ
D5RPD
F7RGRORDQWHULRU
F(O&RPLWpGHODV5HJLRQHV
D/RV-HIHVGH(VWDGRRGH*RELHUQRGHFDGDSDtVPLHPEUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F6HKDQGHFXPSOLUWRGDVODVFRQGLFLRQHVDQWHULRUHV
E&RPLWpGH&RRUGLQDFLyQSUHYLVWRHQHODUWtFXOR.
E(O3DUODPHQWR
E6XSUHVLyQJUDGXDOGHORVFRQWUROHVHQODVIURQWHUDVFRPXQHV
D
D/DV5HFRPHQGDFLRQHV\ORV'LFWiPHQHV
DGHPDU]RGH
E'H(VSDxD
F6HHQFDUJDGHOLQWHUFDPELRGHLQIRUPDFLyQFRPSOHPHQWDULD
F/D&RPLVLyQ\HO&RQVHMR
E,,
E%UXVHODV
EPVWHUGDP
F$WRGRVORVDQWHULRUHV
E(O3DUODPHQWR
F*UDQ%UHWDxD
D'URJDV\'HOLQFXHQFLD2UJDQL]DGD
E(MHFXWDHOLQWHUFDPELRUHFtSURFRGHLQIRUPDFLRQHVUHODWLYDVDSHUVRQDV\REMHWRV
D0LOiQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F1LQJXQDUHVSXHVWDGHODVGRVDQWHULRUHVHVFLHUWD
E'HO3DUODPHQWR
F(O3DUODPHQWR
D6HLVDxRV
D&DWRUFH
E&RRSHUDFLyQUHIRU]DGD
D(O&RQVHMR(XURSHR
E'RVDxRV
E/D+D\D
F(VXQDFXHUGRLQWHUJXEHUQDPHQWDOHQWUH(VWDGRVPLHPEURVGHOD8QLyQ(XUR
SHDSDUDORJUDUODSURJUHVLYDVXVSHQVLyQGHORVFRQWUROHVVREUHFLUFXODFLyQGHSHUVRQDV\
PHUFDQFtDVHQODVIURQWHUDVFRPXQHV
E/RV0LQLVWURVGH$VXQWRV([WHULRUHV
D8QDQLPLGDG
F/HJLVODWLYDVHMHFXWLYDV\GHOLEHUDQWHV
FPVWHUGDP
D/D$VRFLDFLyQSDUDOD8QLyQ(FRQyPLFD(XURSHD
D3RUXQ$ERJDGRHQHMHUFLFLRRXQ3URIHVRUXQLYHUVLWDULR
F7RGRVORVFRQWHQLGRVDQWHULRUHVVRQFLHUWRV
F7RGDVODVDQWHULRUHV
E(O%DQFR&HQWUDO(XURSHR
F(O&RQVHMR
DPLOORQHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(VSHFLDOLVWDVSURFHGHQWHVGHORV(VWDGRVPLHPEURVGHO&RQVHMRGHOD&RPL
VLyQ\GHOD8QLyQ(XURSHD2FFLGHQWDO
D)UDQFLD
F(O&RQVHMR
F7RGRVORVDQWHULRUHVGHOLWRVSXHGHQVHUREMHWRGHSHUVHFXFLyQWUDQVIURQWHUL]D
F/RV-HIHVGH(VWDGRRGH*RELHUQRGHORV(VWDGRVPLHPEURVFRQVX3UHVLGHQWH
\FRQHO3UHVLGHQWHGHOD&RPLVLyQ
D&LQFRDxRV
D&ROHJLDGR\(MHFXWLYR
E/RV'LFWiPHQHV
D(O7UDWDGRGHOD8QLyQ(XURSHD
E&RPLVLyQ
D'HODFRRSHUDFLyQHQORViPELWRVGHOD-XVWLFLD\GHORVDVXQWRVGH,QWHULRU
F/D8QLGDGGH&RRSHUDFLyQ,QWHUQDFLRQDOSHUWHQHFLHQWHDOD&RPLVDUtD*HQHUDO
GH3ROLFtD-XGLFLDO
E
F([WRUVLyQ
F&RPXQLGDG(XURSHDGHO&DUEyQ\GHO$FHUR&(&$
F1LQJXQRGHORVFLWDGRV
E0DOWD7XUTXtD\5XPDQLD
E*UDQ%UHWDxD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D6HLV
E(O3DUODPHQWR
D,UODQGD
F$DPEDV,QVWLWXFLRQHV
E/D+D\D
D&RQHO7UDWDGRGH0DDVWULFKW
D6HLV
F/X[HPEXUJR
F&XDQGRVHWUDWHGHDFWLYLGDGHVSURSLDVGHODGHOLQFXHQFLDRUJDQL]DGD
F(O&RQVHMR
F7UDWDGRGHOD8QLyQ(XURSHD
D(O&RQVHMR
D8QUHSUHVHQWDQWHSRUFDGD(VWDGRPLHPEURLQFOXLGRVVX3UHVLGHQWH\HO$OWR
5HSUHVHQWDQWHGHOD8QLyQ(XURSHDSDUD$VXQWRV([WHULRUHV
D(O7ULEXQDOGH-XVWLFLDHO7ULEXQDO*HQHUDO\ORV7ULEXQDOHV(VSHFLDOHV
D3RUGHVLJQDFLyQGHORV-XHFHVGHO7ULEXQDOGH-XVWLFLD(XURSHRHQ3OHQR
D8Q&RPLWpGHDSR\R\SUHSDUDFLyQGHWUDEDMRVGHO&RQVHMRGH0LQLVWURV(XURSHR
D/RV5HJODPHQWRV
E%HQHOX[)UDQFLD\ODHQWRQFHV5HS~EOLFD)HGHUDOGH$OHPDQLD
F(Q(VWUDVEXUJR
F
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F&LQFRDxRVUHQRYDEOHV
F(QHO7UDWDGRGHODXQLyQ(XURSHD
D$OHPDQLD
F7RGRVORVDQWHULRUHV
D*UXSR'LUHFWRU8QR
D-XHFHV\$ERJDGRV*HQHUDOHV
D/OHYDUHODUPDUHJODPHQWDULD
E/D$VDPEOHD*HQHUDOHO&RPLWp(MHFXWLYR\OD6HFUHWDUtD*HQHUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$25*$1,=$&,1<)81&,21$0,(172'(/$$'0,1,675$&,1*(1(5$/
'(/(67$'235,1&,3,26'(25*$1,=$&,1)81&,21$0,(172
<5(/$&,21(6&21/26&,8'$'$1265*$126683(5,25(6<
5*$126',5(&7,926(1/$25*$1,=$&,1&(175$/(/*2%,(512
&20326,&,125*$1,=$&,1<)81&,21(6
(/*2%,(512(1)81&,21(6
/D2UJDQL]DFLyQ7HUULWRULDOGHO(VWDGRYLHQHUHJXODGDHQOD&RQVWLWXFLyQ(V
SDxRODHQHO7tWXOR
D6pSWLPR
E2FWDYR
F1RYHQR
&XiOHVODEDVHIXQGDPHQWDOGHQXHVWUD&RQVWLWXFLyQSDUDHOHVWDEOHFLPLHQ
WRGHODRUJDQL]DFLyQWHUULWRULDOGHO(VWDGR"
D/DXQLGDG\FHQWUDOL]DFLyQGHO(VWDGR
E(OSRGHUUHFRQRFHUODDXWRGHWHUPLQDFLyQDODVUHJLRQHV
F/DLQGLVROXEOHXQLGDGGHOD1DFLyQ(VSDxROD
'HORVVHUYLFLRVFRPXQHVHQXQ0LQLVWHULRVHHQFDUJD
D/D6HFUHWDUtD*HQHUDO7pFQLFDEDMRODGHSHQGHQFLDGHO6XEVHFUHWDULR
E/D'LUHFFLyQ*HQHUDOTXHGHVLJQHHOSURSLR0LQLVWUR
F3HUVRQDOPHQWHHOWLWXODUGHO0LQLVWHULRFRUUHVSRQGLHQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HTXLpQHVSRWHVWDWLYRODGHVLJQDFLyQGHOFDUJRGH9LFHSUHVLGHQWHGHO*R
ELHUQR"
D'HO&RQVHMRGH0LQLVWURV
E'HO3UHVLGHQWHGHO*RELHUQR
F'HQLQJXQRGHORVGRVDQWHULRUHVSRUGHVLJQDUORHO5H\
6HxDOHGHHQWUHORVVLJXLHQWHVTXLpQQRWLHQHODFRQVLGHUDFLyQGHDOWRFDUJR
D/RV6XEVHFUHWDULRV
E/RV'LUHFWRUHV*HQHUDOHV
F/RV6XEGLUHFWRUHV*HQHUDOHV
4XLpQHVHOUHSUHVHQWDQWHGHO*RELHUQRGHOD1DFLyQHQXQDSURYLQFLD"
D(O6XEGHOHJDGRGHO*RELHUQR
E(O'HOHJDGRGHO*RELHUQR
F(O'HOHJDGRGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
(QOD$GPLQLVWUDFLyQ&HQWUDOGHO(VWDGRTXpFODVHGHyUJDQRHVXQ6XEVH
FUHWDULR"
D6XSHULRU
E'LUHFWLYR
F(MHFXWLYR
4XLpQSUHVLGHOD&RPLVLyQ*HQHUDOGH6HFUHWDULRVGH(VWDGR\6XEVHFUH
WDULRV"
D(O0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
E8Q9LFHSUHVLGHQWHGHO*RELHUQRRHQVXDXVHQFLDHO0LQLVWURGHOD3UHVLGHQFLD
F(OSURSLR3UHVLGHQWHGHO*RELHUQR
(O*RELHUQRHQIXQFLRQHVQRSRGUi
D$SUREDUHOSUR\HFWRGHOH\GH3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
E3UHVHQWDUSUR\HFWRVGHOH\DO&RQJUHVRGHORV'LSXWDGRVRVXFDVRDO6HQDGR
F/OHYDUDFDERQLQJXQDGHODVGRVDQWHULRUHVUHVSXHVWDV
$TXLpQFRUUHVSRQGHODUHSUHVHQWDFLyQRUGLQDULDGHO*RELHUQRGHOD1DFLyQ
HQXQD&RPXQLGDG$XWyQRPD"
D$O6XEGHOHJDGRGHO*RELHUQRHQODSURYLQFLDTXHUDGLTXHODVHGHGHO*RELHUQRDX
WyQRPR
E$O'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQIDOVDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpQRPEUHUHFLEHHOyUJDQRGHDSR\R\SUHSDUDFLyQGHORVDVXQWRVTXH
VHYDQDWUDWDUHQODVVHVLRQHVGHO&RQVHMRGH0LQLVWURV"
D&RPLVLyQ*HQHUDOGH$VXQWRVGH*RELHUQR
E&RPLVLyQ*HQHUDOGH6HFUHWDULRVGH(VWDGR\6XEVHFUHWDULRV
F&RPLVLyQ*HQHUDOGH3ODQLILFDFLyQ
4XpRFXUUHFRQODVGHOHJDFLRQHVOHJLVODWLYDVRWRUJDGDVSRUODV&RUWHV*H
QHUDOHVGXUDQWHHOWLHPSRTXHHO*RELHUQRHVWpHQIXQFLRQHVFRPRFRQVHFXHQFLD
GHODFHOHEUDFLyQGHHOHFFLRQHVJHQHUDOHV"
D4XHGDUiQHQVXVSHQVR
E6HJXLUiQVXPDUFKDQRUPDO\DTXHHVWDEDQRWRUJDGDVSRUODV&RUWHV*HQHUDOHV
F6HGLVROYHUiQ
/D&RPLVLyQ'HOHJDGDGHO*RELHUQRSDUDSROtWLFDDXWRQyPLFDDTXp9LFH
SUHVLGHQFLDHVWiDGVFULWDHQODDFWXDOLGDG"
D$OD3ULPHUD
E$OD6HJXQGD
F$OD7HUFHUD
'HODVTXHVHFLWDQDFRQWLQXDFLyQTXpIDFXOWDGHVQRSRGUiHMHUFHUHO3UH
VLGHQWHGHO*RELHUQRHQIXQFLRQHV"
D3URSRQHUDO5H\ODFRQYRFDWRULDGHXQUHIHUpQGXPFRQVXOWLYR
E3URSRQHUODFXHVWLyQGHFRQILDQ]D
F1LQJXQDGHODVGRVIDFXOWDGHVDQWHULRUHV
/DFRPSRVLFLyQ\FRPSHWHQFLDGHO&RQVHMRGH(VWDGRVHKDUiPHGLDQWH
D/H\RUGLQDULD
E/H\RUJiQLFD
F/H\GHEDVHV
&XiOHVHOUDQJRGHORV'HOHJDGRVGHO*RELHUQRHQODV&RPXQLGDGHV$XWy
QRPDV"
D6XEGLUHFWRU*HQHUDO
E'LUHFWRU*HQHUDO
F6XEVHFUHWDULR
&yPRVHSXHGHQUHXQLUORVPLHPEURVGHO*RELHUQR"
D(Q&RQVHMRGH0LQLVWURV
E(Q&RPLVLRQHV'HOHJDGDV
F'HDPEDVIRUPDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQQRPEUDDORV'HOHJDGRVGHO*RELHUQR"
D(O&RQVHMRGH0LQLVWURVDSURSXHVWDGHO3UHVLGHQWHGHO*RELHUQR
3RUGDxRVRFDVLRQDGRVSRUOD$GPLQLVWUDFLyQORVSDUWLFXODUHVWHQGUiQGH
UHFKRDVHULQGHPQL]DGRV
D6LHPSUH
E(QORVFDVRVGHIXHU]DPD\RU
F&XDQGRODOHVLyQHQVXVELHQHVRGHUHFKRVVHDFRQVHFXHQFLDGHOIXQFLRQDPLHQWRGH
ORVVHUYLFLRVS~EOLFRV
6REUHODFXHVWLyQGHFRQILDQ]DSODQWHDGDSRUHO3UHVLGHQWHGHO*RELHUQRHO
yUJDQRFRQVWLWXFLRQDOTXHGHEHHQWHQGHUHV
D/DV&RUWHV*HQHUDOHV
'LULJHODGHIHQVDGHO(VWDGR
D(O5H\
E(O*RELHUQR
F(O0LQLVWURGH'HIHQVD
/DIXQFLyQDGPLQLVWUDWLYDGHO*RELHUQRVHPDQLILHVWDHQ
D/DGLUHFFLyQGHOD$GPLQLVWUDFLyQFLYLO\PLOLWDU
E/DSRWHVWDGUHJODPHQWDULD
F/DLQLFLDWLYDUHJODPHQWDULD
'HHQWUHORVVLJXLHQWHVFXiOHVXQSULQFLSLRGHRUJDQL]DFLyQGHOD$GPLQLV
WUDFLyQ*HQHUDOGHO(VWDGRVHJ~QOD/2)$*("
D(ILFDFLD
E-HUDUTXtD
F'HVFRQFHQWUDFLyQIXQFLRQDO\WHUULWRULDO
(Q(VSDxDXQDUHIRUPDGHODPD\RUtDGHHGDGUHTXLHUH
D/DUHIRUPDGHO7tWXOR3UHOLPLQDUGHO&yGLJR&LYLO
E8QDUHIRUPDSDUFLDOGHOD&RQVWLWXFLyQ(VSDxROD
F/DUHIRUPDGHO7tWXOR3ULPHURGHOD&RQVWLWXFLyQ(VSDxROD
4XLpQQRPEUD\VHSDUDDORVPLHPEURVGHO*RELHUQR"
D(O5H\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QFXDQWRDODDFFLyQ\IXQFLRQHVGHORVPLHPEURVGHO*RELHUQRHO3UHVL
GHQWHGHOPLVPRVHJ~QOD&RQVWLWXFLyQ(VSDxRODODV
D&HQWUDOL]D
E'LULJH\FRRUGLQD
F'LULJHVXERUGLQDHLQVSHFFLRQD
(O3UHVLGHQWHGHO*RELHUQRHQIXQFLRQHVQRSRGUi
D3URSRQHUDO5H\ODGLVROXFLyQGHDOJXQDGHODV&iPDUDVRGHODV&RUWHV*HQHUDOHV
E3ODQWHDUODFXHVWLyQGHFRQILDQ]DDVtFRPRSURSRQHUDO5H\ODFRQYRFDWRULDGHXQ
UHIHUpQGXPFRQVXOWLYR
F1RSRGUiKDFHUQDGDGHORDQWHULRU
4Xp yUJDQRV FRPSRQHQ OD $GPLQLVWUDFLyQ 7HUULWRULDO R 3HULIpULFD GHO *R
ELHUQR"
D/RV$OFDOGHV\ORV'HOHJDGRVGHO*RELHUQR
E /RV 'HOHJDGRV GHO *RELHUQR HQ ODV &RPXQLGDGHV $XWyQRPDV ORV 6XEGHOHJDGRV
GHO*RELHUQRHQODV3URYLQFLDV\ORV'LUHFWRUHV,QVXODUHVGHOD$GPLQLVWUDFLyQ*HQHUDOGHO
(VWDGR
F/RV3UHVLGHQWHVGHODV'LSXWDFLRQHV\ORV$OFDOGHV
6HxDOHGHHQWUHODVVLJXLHQWHVODIXQFLyQTXHQRVHDSURSLDGHO3UHVLGHQWH
GHO*RELHUQR\RGHORV0LQLVWURV
D'LULJLUOD$GPLQLVWUDFLyQFLYLOGHO(VWDGR
E5HIUHQGDUHQVXFDVRORVDFWRVGHO5H\HQPDWHULDGHVXFRPSHWHQFLD
F3UHSDUDUORVDVXQWRVTXHOXHJRVHUiQVRPHWLGRVDODVGHOLEHUDFLRQHVGHO&RQVHMRGH
0LQLVWURV
4XLpQHODERUDORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR"
D/DV&RUWHV*HQHUDOHV
E(O0LQLVWHULRGH(FRQRPtD\+DFLHQGD
(QHOFDVRGHTXHORVFLXGDGDQRVIRUPXOHQSHWLFLRQHVDODV&iPDUDV/HJLVOD
WLYDVFXiQGRHVWiREOLJDGRHO*RELHUQRDH[SOLFDUVHDQWHHOODVVREUHVXFRQWHQLGR"
D&XDQGRORVROLFLWHQORVSURSLRVFLXGDGDQRV
E&XDQGRHO*RELHUQRORFRQVLGHUHRSRUWXQR
F&XDQGRORVROLFLWHQODV&iPDUDV
(Q PDWHULD GH OLEHUWDGHV S~EOLFDV \ VHJXULGDG FLXGDGDQD \ HQ HO iPELWR
GHODVFRPSHWHQFLDVGHO(VWDGRORV'HOHJDGRVGHO*RELHUQRHQODV&RPXQLGDGHV
$XWyQRPDVGHSHQGHQGHO0LQLVWHULR
D'HO,QWHULRU
E'H3UHVLGHQFLD
F'H-XVWLFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQSURSRQHDODV&RUWHV*HQHUDOHVHOFDQGLGDWRD3UHVLGHQWHGHO*R
ELHUQR"
D(OSDUWLGRSROtWLFRTXHJDQHODVHOHFFLRQHVJHQHUDOHV
E(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
F(O5H\
/DSURSXHVWDGHOHVWDGRGHVLWLRHVFRPSHWHQFLD
D([FOXVLYDGHODV&RUWHV*HQHUDOHV
F([FOXVLYDGHO*RELHUQR
4XLpQSUHVLGHOD&RPLVLyQ*HQHUDOGH6HFUHWDULRVGH(VWDGR\6XEVHFUH
WDULRV"
E(O9LFHSUHVLGHQWH3ULPHURGHO*RELHUQR\VLQRORKXELHUHHO0LQLVWURGHOD3UHVLGHQFLD
F(O0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
'HHQWUHORVVLJXLHQWHVTXLpQHVVRQyUJDQRVGLUHFWLYRV"
D/RV0LQLVWURV
E/RV6HFUHWDULRVGH(VWDGR
F/RV6XEVHFUHWDULRV
6HJ~QOD/H\GHO*RELHUQRTXLpQHVIRUPDQSDUWHGHO*RELHUQR"
D(O3UHVLGHQWH9LFHSUHVLGHQWHV\0LQLVWURV
E(O3UHVLGHQWH9LFHSUHVLGHQWHV0LQLVWURV\6HFUHWDULRVGH(VWDGR
F(O*DELQHWH\ORV6XEVHFUHWDULRV
/D FUHDFLyQ PRGLILFDFLyQ \ VXSUHVLyQ GH ODV &RPLVLRQHV 'HOHJDGDV GHO
*RELHUQRODVSURSRQH
E(O0LQLVWURR0LQLVWURVDIHFWDGRV
F(O&RQVHMRGH0LQLVWURV
/DGLVSRVLFLyQOHJDOGHFUHDFLyQGHXQD&RPLVLyQ'HOHJDGDGHO*RELHUQR
KDEUiGHHVSHFLILFDUQHFHVDULDPHQWH
D(OPLHPEURGHO*RELHUQRTXHDVXPHOD3UHVLGHQFLDGHOD&RPLVLyQ\HOGHOD&RPL
VLyQ'HOHJDGDDOTXHFRUUHVSRQGHOD6HFUHWDUtDGHODPLVPD
E/RVPLHPEURVGHO*RELHUQR\HQVXFDVR6HFUHWDULRVGH(VWDGRTXHODLQWHJUHQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVGHOLEHUDFLRQHVGHO&RQVHMRGH0LQLVWURV\GHODV&RPLVLRQHV'HOHJDGDV
GHO*RELHUQRVRQVHFUHWDV"
D/DVGHO&RQVHMRGH0LQLVWURVVtODVGHODV&RPLVLRQHV'HOHJDGDVQR
E/DVGHO&RQVHMRGH0LQLVWURVQRODVGHODV&RPLVLRQHV'HOHJDGDVVt
F6RQVHFUHWDVDPEDVGHOLEHUDFLRQHV
&XPSOLGRV ORV UHTXLVLWRV FRQVWLWXFLRQDOHV HO FDQGLGDWR D 3UHVLGHQWH GHO
*RELHUQRSDUDVXYRWDFLyQGHLQYHVWLGXUDORSURSRQHHO5H\DWUDYpVGHO
D3UHVLGHQWHGHO*RELHUQRVDOLHQWH
E3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
F3RUWDYR]GHO*UXSR3DUODPHQWDULRTXHKD\DJDQDGRODVHOHFFLRQHV
3DUDVHUQRPEUDGRSRUHO5H\3UHVLGHQWHGHO*RELHUQRHOFDQGLGDWRGHEH
REWHQHUHQSULPHUDYRWDFLyQGHO&RQJUHVRGHORV'LSXWDGRVODFRQILDQ]DSRU
D0D\RUtDDEVROXWD
E0D\RUtDVLPSOH
F0D\RUtDGHGRVWHUFLRVGHORV'LSXWDGRVSUHVHQWHV
6HJ~QOD&RQVWLWXFLyQFXPSOLGRHOSOD]RVLQODREWHQFLyQGHOYRWRGHFRQ
ILDQ]DGHO&RQJUHVRGHORV'LSXWDGRVSRUQLQJ~QFDQGLGDWRD3UHVLGHQWHGHO*RELHU
QRHO5H\GLVROYHUiODV&iPDUDVFRQHOUHIUHQGRGHO
D3UHVLGHQWHGHO*RELHUQRVDOLHQWH
F3UHVLGHQWHGHO6HQDGR
4XpSOD]RPi[LPRWLHQHHOFDQGLGDWRD3UHVLGHQWHGHO*RELHUQRSDUDREWH
QHUODLQYHVWLGXUD"
D&XDUHQWDGtDV
E'RVPHVHV
F8QPHV
6HJ~QOD&RQVWLWXFLyQHOFHVHGHO*RELHUQRVHSURGXFH
D7UDVODFHOHEUDFLyQGHHOHFFLRQHVJHQHUDOHV
E3RUSpUGLGDGHODFRQILDQ]DSDUODPHQWDULDRIDOOHFLPLHQWRGHO3UHVLGHQWH
F3RUFXDOTXLHUDGHODVFDXVDVDQWHULRUHV
6HJ~QHODUWtFXORGHOD&RQVWLWXFLyQ/DUHVSRQVDELOLGDGFULPLQDOGHO
3UHVLGHQWH\ORVGHPiVPLHPEURVGHO*RELHUQRVHUiH[LJLEOHHQVXFDVRDQWH
D/DV&RUWHV*HQHUDOHV
E(O7ULEXQDO6XSUHPRGH-XVWLFLDHQ3OHQR
F/D6DODGHOR3HQDOGHO7ULEXQDO6XSUHPRGH-XVWLFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HODVVLJXLHQWHVFRPSHWHQFLDVGHORV0LQLVWURVTXHVHHQXPHUDQDFRQWL
QXDFLyQVHxDOHODTXHQROHFRUUHVSRQGD
D'HVDUUROODUODDFFLyQGHO*RELHUQRHQHOiPELWRGHVX'HSDUWDPHQWR
E(MHUFHUODSRWHVWDGUHJODPHQWDULDHQODVPDWHULDVSURSLDVGHVX'HSDUWDPHQWR
F/DVGRVUHVSXHVWDVDQWHULRUHVVtOHVFRUUHVSRQGHQFRPRFRPSHWHQFLDVVX\DV
(QWHQGHPRVSRU$GPLQLVWUDFLyQ3~EOLFD
D/D-XGLFLDOOD/HJLVODWLYD\OD(MHFXWLYD
E/D/RFDOOD$XWRQyPLFDOD(VWDWDO\OD,QVWLWXFLRQDO
F/D0XQLFLSDOOD3URYLQFLDOOD*HQHUDO\OD,QVWLWXFLRQDO
/D$GPLQLVWUDFLyQ3~EOLFDJHVWLRQDORVLQWHUHVHV
D6yORGHVXVSURSLRVyUJDQRV
E'HOD&RPXQLGDGHQJHQHUDO
F'HFDGDXQRGHORVFLXGDGDQRV
/RV'HOHJDGRVGHO*RELHUQRVHLQWHJUDQHQOD$GPLQLVWUDFLyQ
D7HUULWRULDO
E$XWRQyPLFD
F&HQWUDO
(OUHSUHVHQWDQWHSHUPDQHQWHGHO*RELHUQRGHOD1DFLyQHQODSURYLQFLDTXH
VHDFDSLWDOLGDGGHXQD&RPXQLGDG$XWyQRPDHV
D(O-HIH6XSHULRUGH3ROLFtD
E(O'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
F(O6XEGHOHJDGRGHO*RELHUQR
&XiOHVVRQORVyUJDQRVVXSHULRUHVGHOD$GPLQLVWUDFLyQ&HQWUDOGHO(VWDGR"
D0LQLVWURV\6HFUHWDULRVGH(VWDGR
E'LUHFWRUHV*HQHUDOHV\6XEVHFUHWDULRV
F0LQLVWURV6HFUHWDULRVGH(VWDGR\6XEVHFUHWDULRV
8QD&RPLVLyQGH*RELHUQRHVXQyUJDQR
D'HOD3UHVLGHQFLDGHO*RELHUQR
E'HXQD&RPXQLGDG$XWyQRPD
F'HXQD'LSXWDFLyQ3URYLQFLDO
6HxDOHHQWUHORVVLJXLHQWHVTXLHQQRWHQJDFRQGLFLyQGHDOWRFDUJR
D/RV6XEVHFUHWDULRV
E/RV6HFUHWDULRV*HQHUDOHV7pFQLFRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RV'HOHJDGRVGHO*RELHUQRGHSHQGHQRUJiQLFDPHQWHGHO0LQLVWHULR
D'HO,QWHULRU
E'H3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F'HOD3UHVLGHQFLDGHO*RELHUQR
(OQRPEUDPLHQWRGH6HFUHWDULR*HQHUDO7pFQLFRUHFDHUiHQIXQFLRQDULRVD
ORVTXHVHH[LMDSDUDVXLQJUHVRHQHOSXHVWRGHWUDEDMRHO7tWXORGH
D'RFWRUR/LFHQFLDGR
E,QJHQLHURR$UTXLWHFWR
F&XDOTXLHUDGHORVDQWHULRUHV
6HxDOHFXiOGHODVVLJXLHQWHVIXQFLRQHVGHO*RELHUQRQRHVXQDDFWLYLGDG
SROtWLFD
D/DGLUHFFLyQGHODSROtWLFDH[WHULRU
E/DGLUHFFLyQGHOD$GPLQLVWUDFLyQFLYLO\PLOLWDU
F(OHMHUFLFLRGHODSRWHVWDGUHJODPHQWDULD
/RVyUJDQRVFX\DVFRPSHWHQFLDVVHH[WLHQGHQDWRGRHOWHUULWRULRQDFLRQDO
IRUPDQODOODPDGD$GPLQLVWUDFLyQ
D3~EOLFD
E&HQWUDO
F,QVWLWXFLRQDO
$TXLpQFRUUHVSRQGHODLPSRVLFLyQGHVDQFLRQHVSRUODFRPLVLyQGHLQIUDF
FLRQHVJUDYHV\PX\JUDYHVSUHYLVWDVHQHOWH[WRDUWLFXODGRGHOD/H\VREUHWUiILFR
FLUFXODFLyQGHYHKtFXORVDPRWRU\VHJXULGDGYLDO"
D$O-HIH3URYLQFLDOGH7UiILFR
E$O'HOHJDGRGHO*RELHUQRHQOD&RPXQLGDG$XWyQRPD
F$O6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLD
(QODV&RPXQLGDGHV$XWyQRPDVXQLSURYLQFLDOHVODVIXQFLRQHVGHO6XEGHOH
JDGRGHO*RELHUQRVHUiQDVXPLGDV
D6LHPSUHSRUHO'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
E6LHPSUHSRUHO3UHVLGHQWHGHOD'LSXWDFLyQ
F3RUHO$OFDOGHGHODUHVSHFWLYDORFDOLGDG
6LHOFDQGLGDWRSURSXHVWRSDUD3UHVLGHQWHGHO*RELHUQRQRKXELHUDREWHQLGR
OD PD\RUtD QHFHVDULD HQ SULPHUD YRWDFLyQ FXiQWR WLHPSR GHEH WUDQVFXUULU SDUD
SRGHUOOHYDUDFDERXQDVHJXQGDYRWDFLyQ"
D9HLQWLFXDWURKRUDV
E&XDUHQWD\RFKRKRUDV
F6HWHQWD\GRVKRUDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpPD\RUtDHVODH[LJLGDSDUDRWRUJDUODFRQILDQ]DDOFDQGLGDWRD3UHVL
GHQWHGHO*RELHUQRHQODVHJXQGDYRWDFLyQGHLQYHVWLGXUD"
D'RVWHUFLRV
E6LPSOH
F$EVROXWD
6HxDOHGHHQWUHORVVLJXLHQWHVFXiOHVHOyUJDQRTXHH[FHSFLRQDOPHQWH
SXHGHH[LVWLUHQXQ0LQLVWHULR
D6HFUHWDUtDGH(VWDGR
E6HFUHWDUtD*HQHUDO
F6XEVHFUHWDUtD
/DVPRFLRQHVDOWHUQDWLYDVDODPRFLyQGHFHQVXUDVHSUHVHQWDUiQGHQWURGHO
SOD]RGHYRWDFLyQGHODSULPHUDPRFLyQFRQFUHWDPHQWHHQHOSHUtRGRPi[LPRGH
D'RVGtDV
E&LQFRGtDV
F7UHVGtDV
(QTXpWLSRGH$GPLQLVWUDFLyQHQFXDGUDUtDOD8QLYHUVLGDG&RPSOXWHQVHGH
0DGULG"
D,QVWLWXFLRQDO
E&HQWUDO
F3HULIpULFD
/D$GPLQLVWUDFLyQ,QVWLWXFLRQDOHVWiIRUPDGDSRU
D(O(VWDGRODV3URYLQFLDV\ORV0XQLFLSLRV
E/RV2UJDQLVPRV$XWyQRPRV&ROHJLRV3URIHVLRQDOHV\VLPLODUHV
F(O(VWDGRODV&RPXQLGDGHV$XWyQRPDV\ORV0XQLFLSLRV
/DGLUHFFLyQGHODDGPLQLVWUDFLyQPLOLWDUHVFRPSHWHQFLDGHO
D5H\
E0LQLVWURGH'HIHQVD
F*RELHUQR
(OUHFXUVRGHLQFRQVWLWXFLRQDOLGDGGHQWURGHOSRGHUHMHFXWLYRGHO(VWDGROR
SXHGHSUHVHQWDU
E(O*RELHUQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DUHVSRQVDELOLGDGSROtWLFDGHO*RELHUQRVHH[LJHDWUDYpVGH
D/D6DODGHOR3HQDOGHO7ULEXQDO6XSUHPRGH-XVWLFLD
E8QDLQWHUSHODFLyQSDUODPHQWDULD
F/DPRFLyQGHFHQVXUDHVHQFLDOPHQWH
/DV&RPLVLRQHV'HOHJDGDVGHO*RELHUQRIRUPDQSDUWHGHOD$GPLQLVWUDFLyQ
D&HQWUDO
E,QVWLWXFLRQDO
F/RFDO
&XiOGHODVVLJXLHQWHVDILUPDFLRQHVHVIDOVD"
D(OFDUJRGH0LQLVWURWLHQHXQGREOHFDUiFWHUSROtWLFR\DGPLQLVWUDWLYR
E(O9LFHSUHVLGHQWHHVXQHOHPHQWRLQGLVSHQVDEOHHQHO*RELHUQR
F/RVPLHPEURVGHO*RELHUQRVHUiQQRPEUDGRVSRUHO5H\DSURSXHVWDGHVX3UHVL
GHQWH
/RV6XEGHOHJDGRVGHO*RELHUQRGHSHQGHQRUJiQLFD\IXQFLRQDOPHQWHGHO
D'HOHJDGRGHO*RELHUQR
E3UHVLGHQWHGHO*RELHUQR
F3UHVLGHQWHGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
'HHQWUHORVVLJXLHQWHVFXiOHVHOSRGHUTXHRVWHQWDHO*RELHUQR"
D/HJLVODWLYR
E-XGLFLDO
F(MHFXWLYR
6HJ~QOD&RQVWLWXFLyQHO*RELHUQRVHFRPSRQHGH
D3UHVLGHQWH\9LFHSUHVLGHQWH
E3UHVLGHQWH9LFHSUHVLGHQWH\0LQLVWURV
F3UHVLGHQWH9LFHSUHVLGHQWHVHQVXFDVR\GHORVGHPiVPLHPEURVTXHHVWDEOH]FD
ODOH\
3HUWHQHFHQDOD$GPLQLVWUDFLyQ7HUULWRULDO
D/RV0LQLVWURV
E/RV'HOHJDGRV\6XEGHOHJDGRVGHO*RELHUQR
F/RV6HFUHWDULRVGH(VWDGR
4XLpQGLULJHODSROtWLFDLQWHULRUGHO(VWDGR"
D(O*RELHUQR
E(O6HQDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGR HO *RELHUQR LPSXJQD DOJXQD GH ODV GLVSRVLFLRQHV \ UHVROXFLRQHV
DGRSWDGDVSRUORVyUJDQRVGHODV&RPXQLGDGHV$XWyQRPDVVHSURGXFHODVXVSHQ
VLyQGHODGLVSRVLFLyQRUHVROXFLyQUHFXUULGDVHxDOHDQWHTXpyUJDQR\SRUFXiQWR
WLHPSR
D$QWHHO7ULEXQDO6XSUHPRGH-XVWLFLDTXHUHVROYHUiHQFLQFRPHVHV
E$QWHHO7ULEXQDO6XSHULRUGH-XVWLFLDGHODUHVSHFWLYD&RPXQLGDGTXHUHVROYHUiHQ
VHLVPHVHV
/DUHSUHVHQWDFLyQWHUULWRULDOGHO(VWDGRHVWiFRPSXHVWDSRU
D/RV'HOHJDGRV\ORV6XEGHOHJDGRVGHO*RELHUQR
E/RV'LUHFWRUHV,QVXODUHV
F7RGRVHOORV
4XLpQDFXHUGDODQHJRFLDFLyQ\ILUPDGHORV7UDWDGRVLQWHUQDFLRQDOHV"
D(O0LQLVWURUHVSHFWLYRVHJ~QHODVXQWRGHTXHVHWUDWH
/DGLYLVLyQDGPLQLVWUDWLYDGHOWHUULWRULRHVSDxROHVHQ
D'RVDGPLQLVWUDFLRQHVXQDFHQWUDO\RWUDSHULIpULFD
E'RVDGPLQLVWUDFLRQHVXQDFHQWUDO\RWUDDXWRQyPLFD
F0XQLFLSLRV3URYLQFLDV\&RPXQLGDGHV$XWyQRPDV
&XiOHVVRQyUJDQRVVXSHULRUHVGHOD$GPLQLVWUDFLyQ&HQWUDOGHO(VWDGR"
E'LUHFWRUHV*HQHUDOHV\6XEVHFUHWDULRV
F0LQLVWURV6HFUHWDULRVGH(VWDGR\6XEVHFUHWDULRV
(ODFFHVRGHORVFLXGDGDQRVDORVDUFKLYRV\UHJLVWURVDGPLQLVWUDWLYRV
D(VWRWDOPHQWHOLEUHSUHYLDLGHQWLILFDFLyQSHUVRQDO
E(VWiSURKLELGRDORVSDUWLFXODUHVTXHQRMXVWLILTXHQXQLQWHUpVOHJDO
F6HUHJXODUiSRUOH\VDOYRHQORTXHDIHFWHDODVHJXULGDG\GHIHQVDGHO(VWDGROD
DYHULJXDFLyQGHORVGHOLWRV\ODLQWLPLGDGGHODVSHUVRQDV
4XLpQGLULJH\FRRUGLQDOD3URWHFFLyQ&LYLOHQODVGLVWLQWDVSURYLQFLDVGHXQD
&RPXQLGDG$XWyQRPD"
D(O3UHVLGHQWHGHODUHVSHFWLYD'LSXWDFLyQ3URYLQFLDO
E(O$OFDOGHGHODFDSLWDOFRPXQLWDULD
F(O6XEGHOHJDGRGHO*RELHUQRHQODSURYLQFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DV,QVWLWXFLRQHVX2UJDQLVPRVS~EOLFRVGHOD$GPLQLVWUDFLyQ*HQHUDOGHO
(VWDGRFX\DDFWXDFLyQVHGHVDUUROOHHQHOH[WHULRUVHHVWDEOHFHUiQFRQODDXWRUL
]DFLyQH[SUHVDGHO
D5H\
E3UHVLGHQWHGHO*RELHUQR
F&RQVHMRGH0LQLVWURV
(O*RELHUQRFHVDSRU
D3UHVHQWDFLyQGHODPRFLyQGHFHQVXUD
E$SUREDFLyQGHODPRFLyQGHFHQVXUDSRUPD\RUtDVLPSOH
F3pUGLGDGHODFRQILDQ]DSDUODPHQWDULD
6HFUHDQPRGLILFDQ\VXSULPHQSRU5HDO'HFUHWRGHO&RQVHMRGH0LQLVWURV
DLQLFLDWLYDGHO0LQLVWURLQWHUHVDGR\DSURSXHVWDGHO0LQLVWURGH3ROtWLFD7HUULWRULDO
\$GPLQLVWUDFLyQ3~EOLFD
D/DV6XEVHFUHWDUtDV\ODV'LUHFFLRQHV*HQHUDOHV
E/DV6HFUHWDUtDV*HQHUDOHV
F7RGDVODVDQWHULRUHV
4XLpQQRPEUD\VHSDUDDORV6XEVHFUHWDULRV"
D(O0LQLVWURGHOTXHGHSHQGD
E(O&RQVHMRGH0LQLVWURV
(QVXIXQFLyQDGPLQLVWUDWLYDHO(MHFXWLYRUHVSRQGHUiGHVXVDFWRVDQWH
D(O&RQVHMRGH(VWDGR
F/RV7ULEXQDOHVGHOR&RQWHQFLRVR$GPLQLVWUDWLYR
/RVWLWXODUHVGHORVyUJDQRVGLUHFWLYRVHQFDUJDGRVGHODJHVWLyQGHXQDR
YDULDViUHDVIXQFLRQDOPHQWHKRPRJpQHDVGHXQ0LQLVWHULRVRQORV
D6HFUHWDULRVGH(VWDGR
E6HFUHWDULRV*HQHUDOHV
F'LUHFWRUHV*HQHUDOHV
/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRHQHOH[WHULRUHVWiLQWHJUDGDSRU
D/DV0LVLRQHV'LSORPiWLFDV3HUPDQHQWHR(VSHFLDOHV\ODV2ILFLQDV&RQVXODUHV
E/DV5HSUHVHQWDFLRQHVR0LVLRQHV3HUPDQHQWHV
F7RGDVODVUHVSXHVWDVVRQFRUUHFWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O3UHVLGHQWHGHO*RELHUQRSUHYLDGHOLEHUDFLyQGHO&RQVHMRGH0LQLVWURV\
EDMRVXH[FOXVLYDUHVSRQVDELOLGDGSRGUiSURSRQHUODGLVROXFLyQ
D'HO&RQJUHVRGHORV'LSXWDGRVRGHO6HQDGR
F/DVGRVUHVSXHVWDVVRQDFHUWDGDV
4Xp yUJDQR QR FRUUHVSRQGH D OD $GPLQLVWUDFLyQ &HQWUDO GH HQWUH ORV VL
JXLHQWHV"
D/D&RPLVLyQ'HOHJDGDGH$VXQWRV(FRQyPLFRV
E/RV6HFUHWDULRV*HQHUDOHVGHORV0LQLVWHULRV
F/D'HOHJDFLyQGHO*RELHUQRHQ0DGULG
6HJ~QOD&RQVWLWXFLyQ(VSDxRODHO*RELHUQRGHOD1DFLyQORIRUPDQ
D(O3UHVLGHQWH\ORV9LFHSUHVLGHQWHV
E(O3UHVLGHQWHORV9LFHSUHVLGHQWHVHQVXFDVRORV0LQLVWURV\ORVGHPiVPLHPEURV
TXHHVWDEOH]FDODOH\
F(O3UHVLGHQWHORV9LFHSUHVLGHQWHV\ORV0LQLVWURV
6HJ~QOD/H\TXHUHJXODOD2UJDQL]DFLyQ\)XQFLRQDPLHQWRGHOD$GPLQLVWUD
FLyQ*HQHUDOGHO(VWDGRGLFKD$GPLQLVWUDFLyQVHULJHSRUORVSULQFLSLRV
D'LYLVLyQIXQFLRQDO\JHVWLyQWHUULWRULDO
E(ILFDFLDMHUDUTXtDGHVFHQWUDOL]DFLyQFRRUGLQDFLyQ\GHVFRQFHQWUDFLyQ
F-HUDUTXtDGHVFHQWUDOL]DFLyQFRRUGLQDFLyQ\HILFDFLD
/DGLUHFFLyQGHODSROtWLFDH[WHULRUGHO(VWDGRHVFRPSHWHQFLDGHO
D*RELHUQR
E0LQLVWURGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
F&RQJUHVRGHORV'LSXWDGRV
6HxDOHGHHQWUHODVVLJXLHQWHVODTXHQRVHDIXQFLyQGHO*RELHUQR
D'LULJLUOD$GPLQLVWUDFLyQPLOLWDU\ODGHIHQVDGHO(VWDGR
E(MHUFHUODIXQFLyQHMHFXWLYD
(QEDVHDOD/H\GHGHQRYLHPEUH'HO*RELHUQRDO3UHVLGHQ
WHGHOPLVPROHFRPSHWH
D,QWHUSRQHUHOUHFXUVRGHLQFRQVWLWXFLRQDOLGDG
E5HVROYHUORVFRQIOLFWRVGHDWULEXFLRQHVTXHSXHGDQVXUJLUHQWUHORVGLIHUHQWHV0LQLV
WHULRV
F/DVUHVSXHVWDVDQWHULRUHVVRQFRUUHFWDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
0HGLDQWHTXpWLSRGHGLVSRVLFLyQOHJDOSXHGHHO3UHVLGHQWHGHO*RELHUQR
FUHDUPRGLILFDU\VXSULPLUORV'HSDUWDPHQWRV0LQLVWHULDOHV"
D'HFUHWR/H\
E'HFUHWR/HJLVODWLYR
F5HDO'HFUHWR
4XLpQUHIUHQGDODVOH\HVUHJLDV"
E(O3UHVLGHQWHGHO&RQJUHVR\ORV0LQLVWURVFRPSHWHQWHVHQVXFDVR
F3XHGHQKDFHUORFDGDXQRGHORVDQWHULRUHVHQVXFDVR\VHJ~QHOFRQWHQLGRGHODOH\
1RVRQyUJDQRVGLUHFWLYRVGHOD2UJDQL]DFLyQ7HUULWRULDOGHOD$GPLQLVWUD
FLyQ*HQHUDOGHO(VWDGR
D/RV'HOHJDGRVGHO*RELHUQRHQODV&RPXQLGDGHV$XWyQRPDV
E/RV6XEGHOHJDGRVGHO*RELHUQRHQODV3URYLQFLDV\ORV'LUHFWRUHV,QVXODUHV
F7RGRVORVyUJDQRVDQWHULRUHVVRQyUJDQRVGLUHFWLYRV
/RV6XEGHOHJDGRVGHO*RELHUQRHQODV3URYLQFLDVWLHQHQQLYHOGH
D'LUHFWRU*HQHUDO
E6HFUHWDULR*HQHUDO7pFQLFR
F6XEGLUHFWRU*HQHUDO
/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRWLHQH
D3HUVRQDOLGDGMXUtGLFD~QLFD
E7DQWDVSHUVRQDOLGDGHVMXUtGLFDVFRPR(QWHVS~EOLFRVH[LVWDQ
F &XDWUR SHUVRQDOLGDGHV MXUtGLFDV GLVWLQWDV OD &HQWUDO OD $XWRQyPLFD OD /RFDO \ OD
,QVWLWXFLRQDO
/DV6XEVHFUHWDUtDVVHFUHDQPRGLILFDQ\VXSULPHQSRU
D5HDO'HFUHWRGHO&RQVHMRGH0LQLVWURVDLQLFLDWLYDGHO0LQLVWURLQWHUHVDGR\DSUR
SXHVWDGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
E3RU2UGHQGHO0LQLVWURFRUUHVSRQGLHQWHFRQSURSXHVWDYiOLGDGHO0LQLVWURGH3ROtWLFD
7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F$LQLFLDWLYDGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFDVHDFXHUGDHQ
GHOLEHUDFLyQGHO&RQVHMRGH0LQLVWURV
8QD&RPLVLyQ3DUODPHQWDULDHVXQJUXSRGHSDUODPHQWDULRV
D0LHPEURVGHGLYHUVRVSDUWLGRVSROtWLFRVRUJDQL]DGRVSDUDHOHVWXGLR\GHVDUUROORGH
DVXQWRVHVSHFtILFRV
E(QFDUJDGRGHUHODFLRQDUVHFRQHO*RELHUQR
F&RPSXHVWRSRUHO3UHVLGHQWH\ORVSRUWDYRFHVGHORVJUXSRVSROtWLFRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVGLVSRVLFLRQHVQRUPDWLYDVTXHHO&RQVHMRGH0LQLVWURVVRPHWHDO&RQ
JUHVRGHORV'LSXWDGRVDFRPSDxDGDVGHXQD([SRVLFLyQGH0RWLYRV\GHORVDQWH
FHGHQWHVQHFHVDULRVSDUDSURQXQFLDUVHVREUHHOODVUHFLEHQHOQRPEUHGH
D3URSRVLFLRQHVGHOH\
E$QWHSUR\HFWRVGHOH\
F3UR\HFWRVGHOH\
8QDGHODVIRUPDVGHGHUULEDUDO*RELHUQRHVPHGLDQWHODPRFLyQGHFHQVX
UDSHURXQDYH]SUHVHQWDGDpVWDFXiQWRWLHPSRKDGHWUDQVFXUULUSDUDTXHSXHGD
VHUVRPHWLGDDYRWDFLyQ"
D&LQFRGtDV
E4XLQFHGtDV
F'LH]GtDV
(O'HFUHWRGHGLVROXFLyQGHODV&RUWHV*HQHUDOHVTXHSXHGHSURSRQHUHO
3UHVLGHQWHGHO*RELHUQRGHEHFRQWHQHUQHFHVDULDPHQWH
D(OQRPEUHGHOQXHYRFDQGLGDWRD3UHVLGHQWHGHO*RELHUQR
E/DIHFKDGHFHOHEUDFLyQGHODVQXHYDVHOHFFLRQHV
F/RVFRPSRQHQWHVGHOD'LSXWDFLyQ3HUPDQHQWH
$QWHTXLpQGHEHSODQWHDUODFXHVWLyQGHFRQILDQ]DVROLFLWDGDSRUHO3UH
VLGHQWHGHO*RELHUQR"
D$QWHHO5H\
E$QWHHO&RQJUHVRGHORV'LSXWDGRV
F$QWHHO6HQDGR
(Q OD FRPSRVLFLyQ GHO *RELHUQR HV IDFXOWDWLYR GHO 3UHVLGHQWH OD H[LV
WHQFLDGH
D0LQLVWURV
E6XEVHFUHWDULRV
F9LFHSUHVLGHQWHV
/DVGLVSRVLFLRQHVOHJLVODWLYDVXUJHQWHVTXHSXHGHGLFWDUHO*RELHUQRVH
GHQRPLQDQ
D'HFUHWRV
E5HDOHV'HFUHWRV
F'HFUHWRVOH\HV
&XiOHVHOPi[LPRyUJDQRFRQVXOWLYRGHO*RELHUQR"
D(O&RQVHMRGH(VWDGR
F(O&RQVHMRGH3ROtWLFDGH6HJXULGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O*RELHUQRSRUWHQHULQLFLDWLYDOHJLVODWLYDSXHGHSUHVHQWDUDQWHHO&RQ
JUHVRGHORV'LSXWDGRV
D3URSRVLFLRQHVGHOH\
E3UR\HFWRVGHOH\
F$PEDVFRVDV
6HxDOHHQWUHORVVLJXLHQWHV\SRUORTXHUHVSHFWDDODVHJXULGDGORVyUJD
QRVVXSHULRUHVHQHO0LQLVWHULRGHO,QWHULRU
D(O0LQLVWUR\HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
E(O6HFUHWDULRGH(VWDGRGH6HJXULGDG\HO6XEVHFUHWDULR
F(O6XEVHFUHWDULR\HO'LUHFWRU*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
4XLpQQRPEUDDORV6XEGHOHJDGRVGHO*RELHUQR"
D(O'HOHJDGRGHO*RELHUQRHQODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E(O&RQVHMRGH0LQLVWURVDSURSXHVWDGHO3UHVLGHQWHGHO*RELHUQR
$ODVUHXQLRQHVGHO&RQVHMRGH0LQLVWURVSRGUiQDFXGLUVLVRQUHTXHULGRV
D/RV6HFUHWDULRVGH(VWDGR
E7RGDVODVSHUVRQDVTXHVHFRQVLGHUHQRSRUWXQDVSRUHO3UHVLGHQWHGHO*RELHUQR
F6yOR\H[FOXVLYDPHQWHHO3UHVLGHQWHGHO*RELHUQR\VXV0LQLVWURV
4XLpQSXHGHFRQWURODUODUHSUHVHQWDFLyQQRSROtWLFDGHO*RELHUQR"
D/D6DOD6HJXQGDGHO7ULEXQDO6XSUHPR
7UDVODVHOHFFLRQHVJHQHUDOHVHO*RELHUQRHQIXQFLRQHVSHUPDQHFHUiHQ
ODVPLVPDVKDVWD
D/DWRPDGHSRVHVLyQGHOQXHYR*RELHUQR
E(OPRPHQWRHQTXHVHHOLMDQXHYR3UHVLGHQWHGHO*RELHUQR
F4XHHO&RQJUHVRGHORV'LSXWDGRVRWRUJXHODFRQILDQ]DDOQXHYR3UHVLGHQWHGHO*R
ELHUQR
(QODVUHXQLRQHVGHO*RELHUQRHQ&RQVHMRGH0LQLVWURVTXLpQUHDOL]DODV
IXQFLRQHVGH6HFUHWDULRGHODVPLVPDV"
D(O9LFHSUHVLGHQWH3ULPHUR
E(O9LFHSUHVLGHQWH6HJXQGR
F(O0LQLVWURGHOD3UHVLGHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(ODUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODHVWDEOHFHTXHOD$GPLQLVWUD
FLyQ3~EOLFDVLUYHFRQREMHWLYLGDGORVLQWHUHVHVJHQHUDOHV\DFW~DGHDFXHUGRFRQ
TXpSULQFLSLRV"
D(ILFDFLDGHVFHQWUDOL]DFLyQGHVFRQFHQWUDFLyQ\FRRUGLQDFLyQFRQVRPHWLPLHQWRSOH
QRDODOH\\DO'HUHFKR
E5HVSRQVDELOLGDGLJXDOGDGGHVFHQWUDOL]DFLyQ\FRRUGLQDFLyQFRQVRPHWLPLHQWRSOH
QRDODOH\\DO'HUHFKR
F(ILFDFLDMHUDUTXtDGHVFHQWUDOL]DFLyQGHVFRQFHQWUDFLyQ\FRRUGLQDFLyQFRQVRPHWL
PLHQWRSOHQRDODOH\\DO'HUHFKR
/RVyUJDQRVGHQLYHOLQIHULRUD6XEGLUHFFLyQ*HQHUDOVHFUHDQPRGLILFDQ\
VXSULPHQSRU2UGHQGHO
D'LUHFWRU*HQHUDO\DSUREDFLyQGHO0LQLVWURFRUUHVSRQGLHQWH
E6HFUHWDULRGH(VWDGR\DSUREDFLyQGHO0LQLVWURFRUUHVSRQGLHQWH
F0LQLVWURUHVSHFWLYRSUHYLDDSUREDFLyQGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLV
WUDFLyQ3~EOLFD
(QXQ0LQLVWHULRTXLpQUHVXHOYHORVUHFXUVRVTXHVHLQWHUSRQJDQFRQWUD
ODVUHVROXFLRQHVGHVXVyUJDQRVVXSHULRUHVRGLUHFWLYRVFX\RVDFWRVQRDJRWHQOD
YtDDGPLQLVWUDWLYD"
D(O0LQLVWUR
E(O6HFUHWDULRGH(VWDGR
F(O6XEVHFUHWDULR
(O*RELHUQRWHQGUiTXHFHVDUSRUXQDGHODVVLJXLHQWHVFLUFXQVWDQFLDV
D3RUDFXVDFLyQGHWUDLFLyQ
E3RUIDOOHFLPLHQWRGHVX3UHVLGHQWH
F3RUSODQWHDPLHQWRGHPRFLyQGHFHQVXUD
1RVHUHFRJHFRPRSULQFLSLRTXHGHEHUHJLUODDFWXDFLyQGHODV$GPLQLVWUD
FLRQHV3~EOLFDVVHJ~QHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODHOGH
D(ILFDFLD
E$YRFDFLyQ
F&RRUGLQDFLyQ
4XLpQWLHQHLQLFLDWLYDSDUDODUHIRUPDFRQVWLWXFLRQDO"
E/DV$VDPEOHDVGHODV&RPXQLGDGHV$XWyQRPDV
F(O&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
(VQHFHVDULRVRPHWHUDUHIHUpQGXPHO7tWXOR3UHOLPLQDUGHOD&RQVWLWXFLyQ
(VSDxROD"
D6tHQWRGRFDVR
EQLFDPHQWHHQFDVRGHGHVDFXHUGRHQWUHHO&RQJUHVRGHORV'LSXWDGRV\HO6HQDGR
F1RHVQHFHVDULR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HQWURGHO(VWDGRFRPSHWHKDFHUHIHFWLYDVODVQRUPDVMXUtGLFDVTXHLQWH
JUDQVXRUGHQDPLHQWRMXUtGLFRYHODQGRSRUORVLQWHUHVHVJHQHUDOHVDOSRGHU
D5HDO
E-XGLFLDO
F(MHFXWLYR
3URFHGHUiODGLVROXFLyQGHODV&RUWHVFXDQGRGHOD&RQVWLWXFLyQ(VSDxROD
VHDSUXHEHODUHIRUPD
D'HVX7tWXOR2FWDYR
E'HVX7tWXOR6HJXQGR
F1RSURFHGHHQQLQJ~QFDVR
&XiOGHODVIXQFLRQHVVLJXLHQWHVQRFRUUHVSRQGHDO*RELHUQR"
D'LULJLUODSROtWLFDLQWHULRU\H[WHULRU
E(MHUFHUODSRWHVWDGUHJODPHQWDULD\ODIXQFLyQHMHFXWLYD
F&RQYRFDU\GLVROYHUODV&RUWHV*HQHUDOHV\FRQYRFDUHOHFFLRQHV
(O &RQVHMR GH 0LQLVWURV HMHUFH IXQFLRQHV GLYHUVDV VHxDOH ODV TXH QR OH
FRUUHVSRQGDQ
D/HJLVODWLYDV
E'HOLEHUDQWHV
F$GPLQLVWUDWLYDV
'HQWUR GH OD RUJDQL]DFLyQ FHQWUDO GH OD $GPLQLVWUDFLyQ *HQHUDO GHO (VWDGR
FXiOGHORVTXHDFRQWLQXDFLyQVHVHxDODQWLHQHODFRQVLGHUDFLyQGHyUJDQRGLUHFWLYR"
E/RV'HOHJDGRVGHO*RELHUQRHQODV&RPXQLGDGHV$XWyQRPDV
F/RV'LUHFWRUHV*HQHUDOHV
/RVyUJDQRVGHFRRSHUDFLyQGHFRPSRVLFLyQPXOWLODWHUDO\GHiPELWRVHF
WRULDOTXHUH~QHQDPLHPEURVGHO*RELHUQRHQUHSUHVHQWDFLyQGHOD$GPLQLVWUDFLyQ
*HQHUDOGHO(VWDGR\DPLHPEURVGHORV&RQVHMRVGH*RELHUQRHQUHSUHVHQWDFLyQ
GHODV$GPLQLVWUDFLRQHVGHODV&RPXQLGDGHV$XWyQRPDVVHGHQRPLQDQ
D&RPLVLRQHV%LODWHUDOHV
E&RPLVLRQHV6HFWRULDOHV
F&RQIHUHQFLDV6HFWRULDOHV
'HORVDFWRVGHO(MHFXWLYRHQVXIXQFLyQSROtWLFDUHVSRQGHUiDQWH
D(O&RQVHMRGH(VWDGR
E/DV&RUWHV*HQHUDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HQWURGHO*RELHUQRVRQGHH[LVWHQFLDIDFXOWDWLYDORV
D0LQLVWURV
E9LFHSUHVLGHQWHVGHO*RELHUQR
/RV SUR\HFWRV GH UHIRUPD GH SDUWHV QR HVHQFLDOHV GH OD &RQVWLWXFLyQ
(VSDxRODSRGUiQDSUREDUVHVLHPSUHTXHHOWH[WRKXELHUHREWHQLGRHOYRWRIDYR
UDEOHGH
D/DPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRV
E/DPD\RUtDDEVROXWDGHO&RQJUHVRGHORV'LSXWDGRV\GHO6HQDGR
F /D PD\RUtD DEVROXWD GHO 6HQDGR \ OD PD\RUtD GH GRV WHUFLRV GHO &RQJUHVR GH ORV
'LSXWDGRV
/DV'HOHJDFLRQHVGHO*RELHUQRHQODV&RPXQLGDGHV$XWyQRPDVVHDGVFUL
EHQRUJiQLFDPHQWH
D$O0LQLVWHULRGHO,QWHULRU
E$OD3UHVLGHQFLDGHO*RELHUQR
F$O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
/RVSUR\HFWRVGHOH\VHUiQDSUREDGRV
D3RUHO*RELHUQR
E6RODPHQWHSRUHO&RQJUHVRGHORV'LSXWDGRV
F(Q&RQVHMRGH0LQLVWURVTXHORVVRPHWHUiDO&RQJUHVRGHORV'LSXWDGRV
4XpDUWtFXORGHOD&RQVWLWXFLyQ(VSDxRODKDVLGRREMHWRGHUHIRUPD"
D(ODUWtFXOR
E(ODUWtFXOR
F(ODUWtFXOR
'HDFXHUGRFRQOD&RQVWLWXFLyQ(VSDxRODORVLQWHUHVHVJHQHUDOHVGHORV
FLXGDGDQRVHVWDUiQVHUYLGRVFRQREMHWLYLGDGSRU
D(O5H\
E(O*RELHUQR
F/D$GPLQLVWUDFLyQ3~EOLFD
/RV6XEGHOHJDGRVGHO*RELHUQRGLULJHQOD$GPLQLVWUDFLyQ*HQHUDOGHO(V
WDGRHQ
D(O0XQLFLSLRTXHVHGHVLJQH
E/D3URYLQFLDUHVSHFWLYD
F/D&RPXQLGDG$XWyQRPDHQTXHUHVLGDQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHOVXSXHVWRGHGLVROXFLyQGHODV&RUWHV*HQHUDOHVSRUQRDOFDQ]DUOD
PD\RUtDVXILFLHQWHSDUDODLQYHVWLGXUDQLQJ~QFDQGLGDWRD3UHVLGHQWHGHO*RELHUQR
UHIUHQGDODPLVPD
D(OSURSLR5H\
F(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGREDMRODGLUHFFLyQGHO*RELHUQR\FRQ
VRPHWLPLHQWRSOHQRDOD/H\\DO'HUHFKRVLUYHFRQREMHWLYLGDGORVLQWHUHVHVJHQH
UDOHVGHVDUUROODQGRIXQFLRQHV
D(MHFXWLYDVGHFDUiFWHUDGPLQLVWUDWLYR
E/HJLVODWLYDVGHFDUiFWHUHMHFXWLYR
F/HJLVODWLYDV\HMHFXWLYDVGHFDUiFWHUDGPLQLVWUDWLYR
(O*RELHUQRHQIXQFLRQHVQRSRGUi
D3UHVHQWDUSUR\HFWRVGHOH\DO&RQJUHVRGHORV'LSXWDGRVRHQVXFDVRDO6HQDGR
E$SUREDUORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
(VXQ3ULQFLSLRGH2UJDQL]DFLyQGHOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR
D/DMHUDUTXtD\ODGHVFHQWUDOL]DFLyQ
E/DHILFDFLD
F(VFLHUWRWRGRORDQWHULRU
/RVyUJDQRVGHOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR\GHVXVRUJDQLVPRV
S~EOLFRVVHFUHDQPRGLILFDQ\VXSULPHQ
D'HDFXHUGRFRQORHVWDEOHFLGRHQODOH\
E3RUGHFLVLyQGHORVWUHVSRGHUHVGHO(VWDGR
F3RUHO*RELHUQRDSURSXHVWDGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
/DGHWHUPLQDFLyQGHOQ~PHURGHQRPLQDFLyQ\HOiPELWRFRPSHWHQFLDOGH
ORV0LQLVWHULRV\GHODV6HFUHWDUtDVGH(VWDGRVHHVWDEOHFHQ
D0HGLDQWH5HDO'HFUHWRGHO3UHVLGHQWHGHO*RELHUQR
E 0HGLDQWH 5HDO 'HFUHWR GHO &RQVHMR GH 0LQLVWURV D SURSXHVWD GHO 3UHVLGHQWH GHO
*RELHUQR
F3RUGHFLVLyQGHO&RQVHMRGH0LQLVWURVGHDFXHUGRFRQHO3UHVLGHQWHGHO*RELHUQR
1RPEUDU\VHSDUDUDORV6XEGLUHFWRUHV*HQHUDOHVGHOD6HFUHWDUtDGH(V
WDGRFRUUHVSRQGH
D$O0LQLVWURFRUUHVSRQGLHQWH
E$OSURSLR6HFUHWDULRGH(VWDGR
F$O9LFHSUHVLGHQWHGHO*RELHUQR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DUHSUHVHQWDFLyQRUGLQDULDGHO0LQLVWHULRODRVWHQWD
D(O6XEVHFUHWDULR
E(O6HFUHWDULRGH(VWDGR
F(O6HFUHWDULR*HQHUDO7pFQLFR
6HHQFDUJDQGHJHVWLRQDUXQDRYDULDViUHDVIXQFLRQDOPHQWHKRPRJpQHDV
GHO0LQLVWHULR
D/RV0LQLVWURV
E/RV6HFUHWDULRVGH(VWDGR
(OUHSUHVHQWDQWHGHO*RELHUQRHQHOWHUULWRULRGHXQD&RPXQLGDG$XWyQRPDHV
D(O'HOHJDGRGHO*RELHUQR
E(O&RQVHMHURGH,QWHULRUR*REHUQDFLyQ
F(O3UHVLGHQWHGHOD$VDPEOHD/HJLVODWLYD
/RVIXQFLRQDULRVTXHVHDQQRPEUDGRV'LUHFWRUHV,QVXODUHVSDVDUiQDOD
VLWXDFLyQDGPLQLVWUDWLYDGH
D6HUYLFLRVHVSHFLDOHVVDOYRTXHRSWHQSRUFRQWLQXDUHQVHUYLFLRDFWLYRHQVX$GPLQLV
WUDFLyQGHRULJHQ
E6HUYLFLRVHVSHFLDOHV
F([FHGHQFLDYROXQWDULDSRUSUHVWDFLyQGHVHUYLFLRVHQHOVHFWRUS~EOLFR
4XLpQHMHUFHODSRWHVWDGUHJODPHQWDULD"
D6yOR\H[FOXVLYDPHQWHHO3UHVLGHQWHGHO*RELHUQR
E(O*RELHUQR
F(O3UHVLGHQWH\ORV0LQLVWURVGHO*RELHUQRTXHIRUPDQHOSRGHUHMHFXWLYR
/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRHVWiQLQWHJUDGDV
D/D$GPLQLVWUDFLyQ(VWDWDO\OD$XWRQyPLFD
E/D(VWDWDOOD$XWRQyPLFD\OD/RFDO
F6yOROD(VWDWDO
/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRGHVDUUROODIXQFLRQHVHMHFXWLYDVGH
FDUiFWHU
D*HQHUDO
E3URSLR
F$GPLQLVWUDWLYR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpGHUHFKRVGHEHUiREVHUYDUOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRUHV
SHFWRDORVFLXGDGDQRV
D6HUDX[LOLDGRVHQODUHGDFFLyQIRUPDOGHGRFXPHQWRVDGPLQLVWUDWLYRV
E5HFLELULQIRUPDFLyQGHLQWHUpVJHQHUDOSRUPHGLRVLQIRUPDWLYRVWHOHIyQLFRVRWHOH
PiWLFRV
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQYHUGDGHUDV
(QWUHORVSRGHUHVGHO(VWDGROD$GPLQLVWUDFLyQ3~EOLFDVHHQFXHQWUDHQHO
D/HJLVODWLYR
E(MHFXWLYR
F-XGLFLDO
6HJ~Q HO DUWtFXOR GH OD &RQVWLWXFLyQ (VSDxROD OD $GPLQLVWUDFLyQ
3~EOLFDHQODDSOLFDFLyQGHVXVSULQFLSLRVORKDUi
D&RQVRPHWLPLHQWRSOHQRDODOH\\DO'HUHFKR
E(QGHIHQVDGHO(VWDGR
F(QGHIHQVDGHVXVSURSLRVLQWHUHVHV
&yPRVHFDOLILFDQORVyUJDQRVGHOD$GPLQLVWUDFLyQGHO(VWDGRHQVXRU
JDQL]DFLyQFHQWUDO"
DUJDQRVGHGLUHFFLyQ\yUJDQRVGHHMHFXFLyQ
EUJDQRV8QLSHUVRQDOHV\yUJDQRVFROHJLDGRV
FUJDQRVVXSHULRUHV\yUJDQRVGLUHFWLYRV
&yPR VH FUHDQ PRGLILFD \ VXSULPHQ ORV yUJDQRV GH OD $GPLQLVWUDFLyQ
*HQHUDOGHO(VWDGR"
E0HGLDQWHOD/H\
F(O0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
(QWUHODVFRPSHWHQFLDVGHORV0LQLVWURVVHHQFXHQWUD
D(MHUFHUODSRWHVWDGUHJODPHQWDULDHQODVPDWHULDVSURSLDVGHVX'HSDUWDPHQWR
E5HIUHQGDUHQVXFDVRORVDFWRVGHO5H\HQPDWHULDGHVXFRPSHWHQFLD
6HxDOHHQWUHODVVLJXLHQWHVODTXHVHDFRPSHWHQFLDGHODV&RPLVLRQHV
'HOHJDGDVGHO*RELHUQR
D1RPEUDUORVPLHPEURVGHO*RELHUQR\HQVXFDVRORV6HFUHWDULRVGH(VWDGRTXHOD
LQWHJUDQ
E$FRUGDUODQHJRFLDFLyQ\ILUPDGH7UDWDGRV,QWHUQDFLRQDOHVDVtFRPRVXDSOLFDFLyQ
SURYLVLRQDO
F'LVSRQHUODHPLVLyQGH'HXGD3~EOLFDRFRQWUDHUFUpGLWR
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E2FWDYR
F/DLQGLVROXEOHXQLGDGGHOD1DFLyQ(VSDxROD
D/D6HFUHWDUtD*HQHUDO7pFQLFDEDMRODGHSHQGHQFLDGHO6XEVHFUHWDULR
E'HO3UHVLGHQWHGHO*RELHUQR
E'LUHFWLYR
E8Q9LFHSUHVLGHQWHGHO*RELHUQRRHQVXDXVHQFLDHO0LQLVWURGHOD3UHVLGHQFLD
F/OHYDUDFDERQLQJXQDGHODVGRVDQWHULRUHVUHVSXHVWDV
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQIDOVDV
E&RPLVLyQ*HQHUDOGH6HFUHWDULRVGH(VWDGR\6XEVHFUHWDULRV
D4XHGDUiQHQVXVSHQVR
F$ODWHUFHUD
F1LQJXQDGHODVGRVIDFXOWDGHVDQWHULRUHV
E/H\RUJiQLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F6XEVHFUHWDULR
F'HDPEDVIRUPDV
D(O&RQVHMRGH0LQLVWURVDSURSXHVWDGHO3UHVLGHQWHGHO*RELHUQR
F&XDQGRODOHVLyQHQVXVELHQHVRGHUHFKRVVHDFRQVHFXHQFLDGHOIXQFLRQDPLHQWR
GHORVVHUYLFLRVS~EOLFRV
E(O*RELHUQR
E/DSRWHVWDGUHJODPHQWDULD
F'HVFRQFHQWUDFLyQIXQFLRQDO\WHUULWRULDO
E8QDUHIRUPDSDUFLDOGHOD&RQVWLWXFLyQ(VSDxROD
D(O5H\
E'LULJH\FRRUGLQD
F1RSRGUiKDFHUQDGDGHORDQWHULRU
E/RV'HOHJDGRVGHO*RELHUQRHQODV&RPXQLGDGHV$XWyQRPDVORV6XEGHOHJDGRV
GHO*RELHUQRHQODV3URYLQFLDV\ORV'LUHFWRUHV,QVXODUHVGHOD$GPLQLVWUDFLyQ*HQHUDOGHO
(VWDGR
F3UHSDUDUORVDVXQWRVTXHOXHJRVHUiQVRPHWLGRVDODVGHOLEHUDFLRQHVGHO&RQVHMR
GH0LQLVWURV
F&XDQGRORVROLFLWHQODV&iPDUDV
D'HO,QWHULRU
F(O5H\
F([FOXVLYDGHO*RELHUQR
E(O9LFHSUHVLGHQWH3ULPHURGHO*RELHUQR\VLQRORKXELHUHHO0LQLVWURGHOD3UH
VLGHQFLD
F/RV6XEVHFUHWDULRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D(O3UHVLGHQWH9LFHSUHVLGHQWHV\0LQLVWURV
F6RQVHFUHWDVDPEDVGHOLEHUDFLRQHV
D0D\RUtDDEVROXWD
E'RVPHVHV
F3RUFXDOTXLHUDGHODVFDXVDVDQWHULRUHV
F/D6DODGHOR3HQDOGHO7ULEXQDO6XSUHPRGH-XVWLFLD
F/DVGRVUHVSXHVWDVDQWHULRUHVVtOHVFRUUHVSRQGHQFRPRFRPSHWHQFLDVVX\DV
E/D/RFDOOD$XWRQyPLFDOD(VWDWDO\OD,QVWLWXFLRQDO
E'HOD&RPXQLGDGHQJHQHUDO
D7HUULWRULDO
E(O'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
F'HXQD'LSXWDFLyQ3URYLQFLDO
E'H3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F(OHMHUFLFLRGHODSRWHVWDGUHJODPHQWDULD
E&HQWUDO
E$O'HOHJDGRGHO*RELHUQRHQOD&RPXQLGDG$XWyQRPD
D6LHPSUHSRUHO'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E&XDUHQWD\RFKRKRUDV
E6LPSOH
E6HFUHWDUtD*HQHUDO
D'RVGtDV
D,QVWLWXFLRQDO
E/RV2UJDQLVPRV$XWyQRPRV&ROHJLRV3URIHVLRQDOHV\VLPLODUHV
F*RELHUQR
F/DPRFLyQGHFHQVXUDHVHQFLDOPHQWH
D&HQWUDO
E(O9LFHSUHVLGHQWHHVXQHOHPHQWRLQGLVSHQVDEOHHQHO*RELHUQR
D'HOHJDGRGHO*RELHUQR
F(MHFXWLYR
F3UHVLGHQWH9LFHSUHVLGHQWHVHQVXFDVR\GHORVGHPiVPLHPEURVTXHHVWDEOH]
FDODOH\
E/RV'HOHJDGRV\6XEGHOHJDGRVGHO*RELHUQR
D(O*RELHUQR
F7RGRVHOORV
F0XQLFLSLRV3URYLQFLDV\&RPXQLGDGHV$XWyQRPDV
F6HUHJXODUiSRUOH\VDOYRHQORTXHDIHFWHDODVHJXULGDG\GHIHQVDGHO(VWDGR
ODDYHULJXDFLyQGHORVGHOLWRV\ODLQWLPLGDGGHODVSHUVRQDV
F(O6XEGHOHJDGRGHO*RELHUQRHQODSURYLQFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F&RQVHMRGH0LQLVWURV
F3pUGLGDGHODFRQILDQ]DSDUODPHQWDULD
F7RGDVODVDQWHULRUHV
F/DVGRVUHVSXHVWDVVRQDFHUWDGDV
F/D'HOHJDFLyQGHO*RELHUQRHQ0DGULG
E(O3UHVLGHQWHORV9LFHSUHVLGHQWHVHQVXFDVRORV0LQLVWURV\ORVGHPiVPLHP
EURVTXHHVWDEOH]FDODOH\
D'LYLVLyQIXQFLRQDO\JHVWLyQWHUULWRULDO
D*RELHUQR
F5HDO'HFUHWR
F3XHGHQKDFHUORFDGDXQRGHORVDQWHULRUHVHQVXFDVR\VHJ~QHOFRQWHQLGRGH
ODOH\
F7RGRVORVyUJDQRVDQWHULRUHVVRQyUJDQRVGLUHFWLYRV
F6XEGLUHFWRU*HQHUDO
D3HUVRQDOLGDGMXUtGLFD~QLFD
D5HDOGHFUHWRGHO&RQVHMRGH0LQLVWURVDLQLFLDWLYDGHO0LQLVWURLQWHUHVDGR\D
SURSXHVWDGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
D0LHPEURVGHGLYHUVRVSDUWLGRVSROtWLFRVRUJDQL]DGRVSDUDHOHVWXGLR\GHVDUUR
OORGHDVXQWRVHVSHFtILFRV
F3UR\HFWRVGHOH\
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D&LQFRGtDV
E/DIHFKDGHFHOHEUDFLyQGHODVQXHYDVHOHFFLRQHV
E$QWHHO&RQJUHVRGHORV'LSXWDGRV
F9LFHSUHVLGHQWHV
F'HFUHWRVOH\HV
D(O&RQVHMRGH(VWDGR
E3UR\HFWRVGHOH\
D(O0LQLVWUR\HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
D(O'HOHJDGRGHO*RELHUQRHQODUHVSHFWLYD&RPXQLGDG$XWyQRPD
D/DWRPDGHSRVHVLyQGHOQXHYR*RELHUQR
F(O0LQLVWURGHOD3UHVLGHQFLD
F (ILFDFLD MHUDUTXtD GHVFHQWUDOL]DFLyQ GHVFRQFHQWUDFLyQ \ FRRUGLQDFLyQ FRQ
VRPHWLPLHQWRSOHQRDODOH\\DO'HUHFKR
F0LQLVWURUHVSHFWLYRSUHYLDDSUREDFLyQGHO0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPL
QLVWUDFLyQ3~EOLFD
D(O0LQLVWUR
E3RUIDOOHFLPLHQWRGHVX3UHVLGHQWH
E$YRFDFLyQ
E/DV$VDPEOHDVGHODV&RPXQLGDGHV$XWyQRPDV
D6tHQWRGRFDVR
F(MHFXWLYR
E'HVX7tWXOR6HJXQGR
F&RQYRFDU\GLVROYHUODV&RUWHV*HQHUDOHV\FRQYRFDUHOHFFLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D/HJLVODWLYDV
F&RQIHUHQFLDV6HFWRULDOHV
E/DV&RUWHV*HQHUDOHV
E9LFHSUHVLGHQWHVGHO*RELHUQR
F/DPD\RUtDDEVROXWDGHO6HQDGR\ODPD\RUtDGHGRVWHUFLRVGHO&RQJUHVRGH
ORV'LSXWDGRV
F(O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F(Q&RQVHMRGH0LQLVWURVTXHORVVRPHWHUiDO&RQJUHVRGHORV'LSXWDGRV
E(ODUWtFXOR
F/D$GPLQLVWUDFLyQ3~EOLFD
E/D3URYLQFLDUHVSHFWLYD
F(O3UHVLGHQWHGHO&RQJUHVRGHORV'LSXWDGRV
D(MHFXWLYDVGHFDUiFWHUDGPLQLVWUDWLYR
F(VFLHUWRWRGRORDQWHULRU
D'HDFXHUGRFRQORHVWDEOHFLGRHQODOH\
D0HGLDQWH5HDO'HFUHWRGHO3UHVLGHQWHGHO*RELHUQR
E$OSURSLR6HFUHWDULRGH(VWDGR
D(O6XEVHFUHWDULR
D(O'HOHJDGRGHO*RELHUQR
D6HUYLFLRVHVSHFLDOHVVDOYRTXHRSWHQSRUFRQWLQXDUHQVHUYLFLRDFWLYRHQVX
$GPLQLVWUDFLyQGHRULJHQ
E(O*RELHUQR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E/DHVWDWDOODDXWRQyPLFD\ODORFDO
F$GPLQLVWUDWLYR
F/DVGRVUHVSXHVWDVDQWHULRUHVVRQYHUGDGHUDV
E(MHFXWLYR
D&RQVRPHWLPLHQWRSOHQRDODOH\\DO'HUHFKR
FUJDQRVVXSHULRUHV\yUJDQRVGLUHFWLYRV
E0HGLDQWHOH\
D1RPEUDUORVPLHPEURVGHO*RELHUQR\HQVXFDVRORV6HFUHWDULRVGH(VWDGR
TXHODLQWHJUDQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/26)81&,21$5,263%/,&26&21&(372<&/$6(6
$'48,6,&,1<3e5','$'(/$&21',&,1'()81&,21$5,2
(OIXQFLRQDULRTXHVROLFLWDODEDMDHQOD$GPLQLVWUDFLyQSRUUHQXQFLDYROXQWDULD
D3XHGHDEDQGRQDUVXSXHVWRGHWUDEDMRVLQPiVUHTXLVLWRV
E'HEHKDFHUORSRUHVFULWR\VHUiDFHSWDGDH[SUHVDPHQWHSRUOD$GPLQLVWUDFLyQVDOYR
ODVH[FHSFLRQHVOHJDOHV
F4XHGDLQKDELOLWDGRSDUDLQJUHVDUGHQXHYRHQOD$GPLQLVWUDFLyQ
&yPRVHFODVLILFDQORVHPSOHDGRVS~EOLFRVVHJ~QOD/H\GHGH
DEULOGHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFR"
D)XQFLRQDULRVGHFDUUHUDIXQFLRQDULRVLQWHULQRVSHUVRQDOODERUDO\SHUVRQDOHYHQWXDO
E)XQFLRQDULRVGHFDUUHUDSHUVRQDOHYHQWXDO\IXQFLRQDULRVLQWHULQRV
F)XQFLRQDULRVGLUHFWLYRVIXQFLRQDULRVGHFDUUHUD\SHUVRQDOODERUDO
/DVSHUVRQDVTXHGHVHPSHxDQIXQFLRQHVUHWULEXLGDVHQODV$GPLQLVWUDFLRQHV
3~EOLFDVDOVHUYLFLRGHORVLQWHUHVHVJHQHUDOHVUHFLEHQHOQRPEUHGH
D(PSOHDGRVS~EOLFRV
E)XQFLRQDULRVS~EOLFRV
F$GPLQLVWUDWLYRV
7RGRDTXHOTXHSRUGHILQLFLyQLQPHGLDWDGHODOH\RSRUHOHFFLyQRSRUQRP
EUDPLHQWRGHODDXWRULGDGFRPSHWHQWHSDUWLFLSHHQHOHMHUFLFLRGHIXQFLRQHVS~EOL
FDVHVODGHILQLFLyQTXHGDGHIXQFLRQDULRS~EOLFR
D/D/H\GHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFR
E/D/H\GHO*RELHUQR
F(O&yGLJR3HQDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
1RVHFRQVLGHUDXQDIRUPDDQRUPDOGHH[WLQFLyQGHODUHODFLyQIXQFLRQDULDO
D/DVDQFLyQGLVFLSOLQDULDGHVXVSHQVLyQGHIXQFLRQHV
E/DMXELODFLyQSRULQFDSDFLGDG
F/DUHQXQFLDDODFRQGLFLyQGHIXQFLRQDULR
(OFDUiFWHUGHSHUPDQHQFLDHVVLQJXODUGHORV
D'HORVIXQFLRQDULRVGHFDUUHUD
E'HORVIXQFLRQDULRVLQWHULQRV
F'HOSHUVRQDOHYHQWXDO
/DV$GPLQLVWUDFLRQHV3~EOLFDVVHOHFFLRQDQDWRGRHOSHUVRQDODVXVHUYLFLR
FRQDUUHJORD
D/RVSULQFLSLRVGHPpULWRVFDSDFLGDG\DQWLJHGDG
E/DVDSWLWXGHV\FXDOLILFDFLyQGHORVDVSLUDQWHV
F/DRIHUWDGHHPSOHRS~EOLFR
(QWUHODVFDUDFWHUtVWLFDVSURSLDVGHORVIXQFLRQDULRVGHFDUUHUDVHHQFXHQWUD
D(OQRPEUDPLHQWROHJDOKHFKRSRU$XWRULGDGFRPSHWHQWH
E6XYLQFXODFLyQFRQODQRUPDWLYDGHO'HUHFKR$GPLQLVWUDWLYR
7RGRVORVFLXGDGDQRVWLHQHQGHUHFKRDODFFHVRDOHPSOHRS~EOLFRGHDFXHUGR
FRQORVSULQFLSLRVFRQVWLWXFLRQDOHVGH
D0pULWRFDSDFLGDG\DQWLJHGDG
E,JXDOGDGPpULWR\FDSDFLGDG
F$QWLJHGDGLJXDOGDGGHRSRUWXQLGDGHV\FDSDFLGDG
/RVHPSOHDGRVS~EOLFRVSXHGHQVHU
D'HFDUUHUDLQWHULQRV\HYHQWXDOHV
E3HUVRQDOODERUDO\DVHDILMRSRUWLHPSRLQGHILQLGRRWHPSRUDO
$ORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDVHOHVDSOLFDHO(VWDWXWR
%iVLFRGHO(PSOHDGR3~EOLFR"
D1RVHDSOLFDQXQFD
E6tVHDSOLFDVLHPSUH
F6HDSOLFDVXSOHWRULDPHQWH
3DUDSHUWHQHFHUDO6XEJUXSR&SRUORPHQRVKD\TXHWHQHUWLWXODFLyQGH
D%DFKLOOHUDWR
E7pFQLFR
F/DVGRVUHVSXHVWDVVRQFLHUWDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q HO QRPEUDPLHQWR GH IXQFLRQDULR LQWHULQR GHEHQ FRQFXUULU DOJXQDV FLU
FXQVWDQFLDVHQWUHODVTXHVHH[SRQHQVHxDOHODVFRUUHFWDV
D/DVXVWLWXFLyQWUDQVLWRULDGHORVWLWXODUHV
E(OH[FHVRRDFXPXODFLyQGHWDUHDVSRUSOD]RPi[LPRGHVHLVPHVHVGHQWURGHXQ
SHUtRGRGHGRFHPHVHV
F/DVGRVFLUFXQVWDQFLDVDQWHULRUHVVRQYHUGDGHUDV
3RUODH[LVWHQFLDGHSOD]DVYDFDQWHVFXDQGRQRVHDSRVLEOHVXFREHUWXUD
SRUIXQFLRQDULRVGHFDUUHUDVHSRGUiQRPEUDUIXQFLRQDULRVLQWHULQRVSRUWLHPSR
Pi[LPRGHQWURGHGRFHPHVHVGH
D7UHVPHVHV
E6HLVPHVHV
F'RFHPHVHVFRPSOHWRV
$TXLpQFRUUHVSRQGHHOQRPEUDPLHQWRGHSHUVRQDOHYHQWXDOHQOD$GPLQLV
WUDFLyQ&HQWUDOGHO(VWDGR"
D$ORV0LQLVWURV\6HFUHWDULRVGH(VWDGR
E$ORV6XEVHFUHWDULRV
F$ORV'LUHFWRUHV*HQHUDOHV
6HJ~QOD/H\GHO(PSOHDGR3~EOLFRSDUDDFFHGHUDO*UXSR&GH)XQFLRQDULRV
&LYLOHVGHOD$GPLQLVWUDFLyQHVUHTXLVLWRHVWDUHQSRVHVLyQGHO7tWXOR$FDGpPLFRGH
D(QVHxDQ]D6HFXQGDULD2EOLJDWRULD
E7pFQLFR6XSHULRU
F%DFKLOOHUDWRR7pFQLFR
(OSHUVRQDOTXHUHDOL]DHQOD$GPLQLVWUDFLyQ3~EOLFDIXQFLRQHVH[SUHVDPHQ
WHFDOLILFDGDVGHFRQILDQ]DRDVHVRUDPLHQWRHVSHFLDOVRQ
D/RVLQWHULQRV
E/RVHYHQWXDOHV
F/RVGHFDUUHUD
(QFXiQWRVDxRVLQPHGLDWDPHQWHDQWHULRUHVDODSXEOLFDFLyQGHODFRQYR
FDWRULDQRSRGUiQIRUPDUSDUWHGHORVyUJDQRVGHVHOHFFLyQDTXHOORVIXQFLRQDULRV
TXHKXELHUDQUHDOL]DGRWDUHDVGHSUHSDUDFLyQGHDVSLUDQWHVDODPLVPD"
D7UHVDxRV
E'RVDxRV
F&LQFRDxRV
&yPRVHGHQRPLQDQORVyUJDQRVGHFRODERUDFLyQGHORV7ULEXQDOHVQRP
EUDGRVSDUDODVHOHFFLyQGHIXQFLRQDULRVLQWHULQRV"
D8QLGDGHV3HULIpULFDVGH&RODERUDFLyQ
E&RPLVLRQHVGH9DORUDFLyQ
F7ULEXQDOHV$X[LOLDUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HxDOHODSURSRVLFLyQYHUGDGHUDHQUHODFLyQFRQHOSHUVRQDOHYHQWXDOTXH
SUHVWDVHUYLFLRVHQOD$GPLQLVWUDFLyQGHO(VWDGR
D'HVHPSHxDIXQFLRQHVGHFRQILDQ]DRDVHVRUDPLHQWRHVSHFLDO
E6XQRPEUDPLHQWR\FHVHWLHQHFDUiFWHUGLVFUHFLRQDO
'HTXLpQVHUHTXLHUHDXWRUL]DFLyQSDUDHIHFWXDUHOQRPEUDPLHQWRGHSHU
VRQDOIXQFLRQDULRLQWHULQR"
D'HO&RQVHMR6XSHULRUGHOD)XQFLyQ3~EOLFD
E$XWRUL]DFLyQFRQMXQWDGHORV0LQLVWHULRVGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
\GH(FRQRPtD\+DFLHQGD
F'HOD-XQWDGH3HUVRQDOGHOiUHDIXQFLRQDOHQGRQGHVHHQFXHQWUHQORVSXHVWRVGH
WUDEDMRGHFREHUWXUDWHPSRUDO
&yPRVHFUHDQORVyUJDQRVGHH[iPHQHVSDUDODVHOHFFLyQGHIXQFLRQDULRV"
D/RV7ULEXQDOHVVHQRPEUDQVDOYRH[FHSFLyQMXVWLILFDGDHQOD2UGHQGHODFRQYRFDWRULD
E/DV&RPLVLRQHV3HUPDQHQWHVGH6HOHFFLyQ\ORV7ULEXQDOHVVHFUHDQDWUDYpVGH2U
GHQGHO0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F/DV&RPLVLRQHV3HUPDQHQWHVGH6HOHFFLyQVHFUHDQSRU2UGHQGHO0LQLVWHULRDOTXH
HVWpQDGVFULWRVORV&XHUSRVREMHWRGHVHOHFFLyQ
&XiOHVHOVLVWHPDQRUPDOGHVHOHFFLyQGHIXQFLRQDULRVLQWHULQRVDOVHUYLFLR
GHOD$GPLQLVWUDFLyQGHO(VWDGR"
D/DOLEUHGHVLJQDFLyQ
E(OFRQFXUVRRSRVLFLyQ
F(OFRQFXUVR
$TXLpQVHUHILHUHOD/H\GHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFRFXDQGR
GLFH/RVTXHSRUUD]RQHVH[SUHVDPHQWHMXVWLILFDGDVGHQHFHVLGDG\XUJHQFLDVRQ
QRPEUDGRVFRPRWDOHVSDUDHOGHVHPSHxRGHIXQFLRQHVSURSLDVGHIXQFLRQDULRVGH
FDUUHUDFXDQGRVHGpDOJXQDGHODVVLJXLHQWHVFLUFXQVWDQFLDV"
D$ORVIXQFLRQDULRVGHFDUUHUD
E$ORVIXQFLRQDULRVLQWHULQRV
F$OSHUVRQDOHYHQWXDO
'HHQWUHODVVLJXLHQWHVVHxDOHODTXHVHDFLUFXQVWDQFLDDTXHVHUHIHUtDHO
WHVWDQWHULRU
D /D VXVWLWXFLyQ WUDQVLWRULD GH ORV WLWXODUHV \ OD HMHFXFLyQ GH SURJUDPDV GH FDUiFWHU
WHPSRUDO
E(OH[FHVRRDFXPXODFLyQGHWDUHDVSRUSOD]RPi[LPRGHVHLVPHVHVGHQWURGHXQ
SHUtRGRGHGRFHPHVHV
F&XDQGRVHGpDOJXQDGHODVFLUFXQVWDQFLDVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$ TXLpQ HVWi GHILQLHQGR OD /H\ GH GH DEULO FXDQGR GLFH (O
TXHHQYLUWXGGHFRQWUDWRGHWUDEDMRIRUPDOL]DGRSRUHVFULWRHQFXDOTXLHUDGHODV
PRGDOLGDGHVGHFRQWUDWDFLyQGHSHUVRQDOSUHYLVWDVHQODOHJLVODFLyQODERUDOSUHVWD
VHUYLFLRVUHWULEXLGRVSRUODV$GPLQLVWUDFLRQHV3~EOLFDV"
E$OSHUVRQDOODERUDO
F$OSHUVRQDOHYHQWXDO
/DVHOHFFLyQGHIXQFLRQDULRVLQWHULQRVKDEUiGHUHDOL]DUVHPHGLDQWHSURFH
GLPLHQWRViJLOHVTXHUHVSHWDUiQHQWRGRFDVRORVSULQFLSLRVGH
D,JXDOGDG\PpULWR
E&DSDFLGDG\SXEOLFLGDG
F7RGRVORVDQWHULRUHV
(OFHVHGHORVIXQFLRQDULRVLQWHULQRVVHSURGXFLUi
D&XDQGRORHVWLPHFRQYHQLHQWHHO-HIHGHVX1HJRFLDGR
E&RPRPi[LPRDORVFLQFRDxRVGHVXQRPEUDPLHQWR
F&XDQGRILQDOLFHODFDXVDTXHGLROXJDUDVXQRPEUDPLHQWR
'yQGHVHHVWDEOHFHUiQORVFULWHULRVSDUDODGHWHUPLQDFLyQGHORVSXHVWRV
GHWUDEDMRTXHSXHGHQVHUGHVDUUROODGRVSRUHOSHUVRQDOODERUDO"
D7RGRVHQOD$GPLQLVWUDFLyQ(VWDWDO
E6HUiFRPSHWHQFLDH[FOXVLYDGHODV&RQVHMHUtDVGH$GPLQLVWUDFLRQHV3~EOLFDVGHOD
UHVSHFWLYD&RPXQLGDG$XWyQRPD
F(QODVOH\HVGH)XQFLyQ3~EOLFDTXHVHGLFWHQHQGHVDUUROORGHOSUHVHQWH(VWDWXWR
/DVUHODFLRQHVHQWUHOD$GPLQLVWUDFLyQ\VXVIXQFLRQDULRVVHUHJXODQSRU
D(O'HUHFKR$GPLQLVWUDWLYR
E3RUHO'HUHFKR/DERUDO
F8QDFXHUGRHQFDGD&HQWURGHWUDEDMR
(OQRPEUDPLHQWR\FHVHGHOSHUVRQDOHYHQWXDO
D6HUiOLEUH
E&RPSUHQGHUiXQPi[LPRGHFLQFRDxRV
F$EDUFDUiXQPi[LPRGHWUHVDxRV
(OSHUVRQDOFX\DGHVLJQDFLyQDWHQGHUiDSULQFLSLRVGHPpULWR\FDSDFLGDG\
DFULWHULRVGHLGRQHLGDG\VHOOHYDUiDFDERPHGLDQWHSURFHGLPLHQWRVTXHJDUDQWL
FHQODSXEOLFLGDG\FRQFXUUHQFLDVHGHQRPLQDQ
D3HUVRQDOGLUHFWLYR
E3HUVRQDOODERUDOSRUWLHPSRLQGHILQLGR
F)XQFLRQDULRVLQWHULQRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OQ~PHURPi[LPRGHIXQFLRQDULRVHYHQWXDOHVVHHVWDEOHFHUiFRQFUHWDPHQ
WHSRU
D(O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFDSDUDWRGDVODV$GPLQLV
WUDFLRQHV
E/RVUHVSHFWLYRVyUJDQRVGHJRELHUQRTXHODOH\GHWHUPLQH
F1RH[LVWHOLPLWDFLyQHQVXQ~PHUR\DTXHGHSHQGHUiGHODVFLUFXQVWDQFLDVQHFHVDULDV
$TXpFODVHGHSHUVRQDOSHUWHQHFHDTXHOTXHHQYLUWXGGHQRPEUDPLHQWR\
FRQFDUiFWHUQRSHUPDQHQWHVyORUHDOL]DIXQFLRQHVH[SUHVDPHQWHFDOLILFDGDVFRPR
GHFRQILDQ]DRDVHVRUDPLHQWRHVSHFLDOVLHQGRUHWULEXLGRFRQFDUJRDORVFUpGLWRV
SUHVXSXHVWDULRVFRQVLJQDGRVSDUDWDOILQ"
D)XQFLRQDULRVGHFDUUHUD
E)XQFLRQDULRVLQWHULQRV
F3HUVRQDOHYHQWXDO
&XiOHVHOSHUVRQDOTXHOD/H\FRQWHPSODFRPRVXMHWRDHYDOXDFLyQ
FRQDUUHJORDORVFULWHULRVGHHILFDFLD\HILFLHQFLDUHVSRQVDELOLGDGSRUVXJHVWLyQ\
FRQWUROGHUHVXOWDGRVHQUHODFLyQFRQORVREMHWLYRVTXHOHVKD\DQVLGRILMDGRV"
D(YHQWXDO
E'LUHFWLYR
F,QWHULQR
&XiOHVHOSHUVRQDOTXHSUHVWDQGRIXQFLyQGHFRQILDQ]DRDVHVRUDPLHQWR
HQWRGRFDVRFHVDFXDQGRVHSURGXFHHOFHVHGHODDXWRULGDGDODTXHVHSUHVWH
GLFKDIXQFLyQ"
D/RVLQWHULQRV
E/RVODERUDOHVWHPSRUDOHV
F/RVHYHQWXDOHV
/RV&XHUSRV\(VFDODVGHIXQFLRQDULRVVHFUHDQPRGLILFDQ\VXSULPHQSRU
D/H\GHODV&RUWHV*HQHUDOHV
E/H\GHODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV$XWyQRPDV
/RV*UXSRVGHFODVLILFDFLyQSURIHVLRQDOGHOSHUVRQDOIXQFLRQDULRGHFDUUHUDVRQ
D6RODPHQWHXQ*UXSRHO$
E'RV*UXSRVHO$\HO%
F7UHV*UXSRV$%\&
'yQGH VH ILMDQ ODV EDVHV TXH YDQ D UHJLU HO SURFHGLPLHQWR GH VHOHFFLyQ
SDUDVHUIXQFLRQDULR"
D(QORV7DEORQHVGHDQXQFLRVRILFLDOHVSRUORPHQRVFXDWURPHVHVDQWHVGHODIHFKD
GHH[iPHQHV
E(QODFRQYRFDWRULDS~EOLFDLQVHUWDGDHQHO%ROHWtQ2ILFLDOGHO(VWDGRVLQQHFHVLGDG
GHIHFKDILMDGDH[SUHVDPHQWHSDUDHOPRPHQWRGHH[iPHQHV
F(QHO%ROHWtQ2ILFLDOGHOD3URYLQFLDGRQGHVHILMHODVHGHGHH[iPHQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O*UXSRSDUDFX\RDFFHVRVHH[LJHHO7tWXORGH7pFQLFR6XSHULRUHVHO
D*UXSR$
E*UXSR%
F*UXSR&
/DVIRUPDVGHVHOHFFLyQGHIXQFLRQDULRVFRPSUHQGLGRVHQODRIHUWDGHHP
SOHRS~EOLFRVRQ
D2SRVLFLyQRELHQFRQFXUVR
E&RQFXUVRRSRVLFLyQ
F&XDOTXLHUDGHODVIRUPDVDQWHULRUHV
'HVGH OD QRWLILFDFLyQ FRPR IXQFLRQDULR \ KDVWD OD WRPD GH SRVHVLyQ GHO
FDUJRTXpSOD]RH[LVWH"
D7UHVVHPDQDV
E'RVPHVHV
F8QPHV
/RV3ODQHVGH(PSOHRGHIXQFLRQDULRVVHDSUREDUiQSRU
D(O0LQLVWURGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
E(O6HFUHWDULRGH(VWDGRSDUDOD$GPLQLVWUDFLyQ3~EOLFD
F(O'LUHFWRU*HQHUDOGH(PSOHR
6DOYRSRUODQDWXUDOH]DGHODVIXQFLRQHVDGHVHPSHxDUHOVLVWHPDRUGLQDULR
GHLQJUHVRHQODIXQFLyQS~EOLFDHV
D(OFRQFXUVR
E/DRSRVLFLyQ
F(OFRQFXUVRRSRVLFLyQ
5HVSHFWRDODSUHJXQWDDQWHULRUVHxDOHHOVLVWHPDPiVH[FHSFLRQDO
D(OFRQFXUVR
E/DRSRVLFLyQ
F(OFRQFXUVRRSRVLFLyQ
'H IRUPD JHQHUDO ORV SURFHVRV VHOHFWLYRV VH UHJLUiQ SRU XQRV SULQFLSLRV
HQWUHORVTXHVHH[SRQHQVHxDOHVLDOJXQRGHHOORVHVIDOVR
D$GHFXDFLyQDORVSXHVWRVGHWUDEDMRRIHUWDGRV\TXHDOPHQRVXQRGHORVHMHUFLFLRV
VHDSUiFWLFR
E ,QFOXVLyQ GH SUXHEDV GH FRQRFLPLHQWR JHQHUDO R HVSHFtILFR WHVW SVLFRWpFQLFRV R
GHSHUVRQDOLGDGXRWURVVLVWHPDVTXHDVHJXUHQODREMHWLYLGDG\UDFLRQDOLGDGGHOSURFHVR
VHOHFWLYR
F1RKD\QLQJXQRIDOVRWRGRVORVDQWHULRUHVVRQYHUGDGHURV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
+D\FDVRVHQTXHODFRQYRFDWRULDSXHGHHVWDEOHFHUODVXSHUDFLyQGHFXUVRV
VHOHFWLYRVRSHUtRGRVGHSUiFWLFDVORVDVSLUDQWHVTXHQRORVVXSHUHQ
D3HUGHUiQHQWRGRFDVRVXGHUHFKRDVHUQRPEUDGRVIXQFLRQDULRVGHFDUUHUD
E7HQGUiQXQDVHJXQGDRSRUWXQLGDGGHUHSHWLUORVFXUVRVGHSUiFWLFDV
F1RSHUGHUiQVXGHUHFKRSRUFDXVDGHIXHU]DPD\RUGHELGDPHQWHMXVWLILFDGD\DSUH
FLDGDSRUOD$GPLQLVWUDFLyQ
4XpyUJDQRHVHOHQFDUJDGRGHODFRRUGLQDFLyQFRQWURO\UHDOL]DFLyQGH
ORVFXUVRVGHVHOHFFLyQIRUPDFLyQ\SHUIHFFLRQDPLHQWRGHORVIXQFLRQDULRVGHOD
$GPLQLVWUDFLyQGHO(VWDGR"
D(O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
E(O0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQ
F(O,QVWLWXWR1DFLRQDOGH$GPLQLVWUDFLyQ3~EOLFD
(QHOQRPEUDPLHQWRGHIXQFLRQDULRVVHSXHGHVXSHUDUHOQ~PHURGHSOD]DV
DQXQFLDGDV\GRWDGDVSUHVXSXHVWDULDPHQWH"
D1R
E6t
F 6yOR VL GXUDQWH ORV SURFHVRV VHOHFWLYRV VH SURGXMHUD XQ Q~PHUR FRQVLGHUDEOH GH
EDMDVIXQFLRQDULDOHV
/RVQRPEUDPLHQWRVGHEHQSXEOLFDUVH
D(QORV'LDULRV2ILFLDOHVGHODV&RPXQLGDGHV$XWyQRPDV
E(QORV'LDULRV2ILFLDOHVGHODV(QWLGDGHV/RFDOHV
F(QDOJXQDGHODVGRVRSFLRQHVDQWHULRUHV\VHJ~QORVFDVRVHQHO%ROHWtQ2ILFLDOGHO
(VWDGR
(OGHVHPSHxRGHXQSXHVWRGHWUDEDMRUHVHUYDGRDSHUVRQDOHYHQWXDOFXiQ
GRFRQVWLWX\HPpULWRSDUDHODFFHVRDODIXQFLyQS~EOLFDRODSURPRFLyQLQWHUQD"
D(QQLQJ~QFDVR
E6LHPSUHTXHVXSHUHXQDxRGHGXUDFLyQ
F4XHGDUiDFULWHULRGHO-HIHGHOD'HSHQGHQFLD
/DHGDGGHMXELODFLyQIRU]RVDILMDGDHQODVQRUPDVHVWDWXWDULDVGHORVIXQ
FLRQDULRVHV
DDxRV
EDxRV
FDxRV
6HSRGUiSHUGHUODFRQGLFLyQGHIXQFLRQDULRSRU
D-XELODFLyQRSRUSHQDSULQFLSDOGHLQKDELOLWDFLyQDEVROXWDRHVSHFLDOSDUDFDUJRS~EOLFR
E3HQDDFFHVRULDGHLQKDELOLWDFLyQDEVROXWDRHVSHFLDOSDUDFDUJRS~EOLFR
F(QORVWUHVVXSXHVWRVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpUHTXLVLWRVVRQH[LJLGRVSDUDODDFHSWDFLyQGHODUHQXQFLDYROXQWDULD
GHXQIXQFLRQDULR"
D(VDFHSWDEOHVLHPSUHVLQH[FHSFLyQ
E6HUiREOLJDWRULDPHQWHDFHSWDGDSRUOD$GPLQLVWUDFLyQLQFOXVRFXDQGRHOIXQFLRQDULR
VHHQFXHQWUHLQFXUVRHQH[SHGLHQWHGLVFLSOLQDULR
F 'HEH VHU DFHSWDGD H[SUHVDPHQWH SRU OD $GPLQLVWUDFLyQ VDOYR TXH HO IXQFLRQDULR
HVWpVXMHWRDH[SHGLHQWHGLVFLSOLQDULRSRUSURFHVDPLHQWRRDSHUWXUDGHOMXLFLRRUDOSRUOD
FRPLVLyQGHDOJ~QGHOLWR
(QWUH ORV VXSXHVWRV HQ TXH SXHGH SHUGHUVH OD FRQGLFLyQ GH IXQFLRQDULR
ILJXUDQ
D/DUHQXQFLDDODFRQGLFLyQGHIXQFLRQDULRDVtFRPRODVDQFLyQGLVFLSOLQDULDILUPHGH
VHSDUDFLyQGHOVHUYLFLR
E/DSpUGLGDGHODQDFLRQDOLGDGHVSDxRODRHQVXFDVRGHODQDFLRQDOLGDGGHFXDOTXLHU
SDtVGHOD8QLyQ(XURSHDHQEDVHD7UDWDGRV,QWHUQDFLRQDOHVVXVFULWRVSRU(VSDxD
F(QWRGRVORVVXSXHVWRVDQWHULRUHV
'HDFXHUGRFRQHODUWGHOD&RQVWLWXFLyQ
D/DOH\UHJXODUiODVSHFXOLDULGDGHVGHOHMHUFLFLRGHOGHUHFKRGHORVHPSOHDGRVS~EOLFRV
DODVLQGLFDFLyQ
E3RUOH\RUJiQLFDVHUHJXODUiHOHMHUFLFLRGHOGHUHFKRGHORVIXQFLRQDULRVS~EOLFRVDOD
VLQGLFDFLyQDVtFRPRODVSHFXOLDULGDGHVGHGLFKRHMHUFLFLR
F/DOH\UHJXODUiODVSDUWLFXODULGDGHVGHOHMHUFLFLRGHOGHUHFKRGHORVIXQFLRQDULRVS~
EOLFRVDODVLQGLFDFLyQ
(QWUHORVVLJXLHQWHVVHxDOHHOTXHQRVHDUHTXLVLWRSDUDDGTXLULUODFRQGL
FLyQGHIXQFLRQDULRGHFDUUHUD
D/DVXSHUDFLyQGHOSURFHVRVHOHFWLYR\HOQRPEUDPLHQWRSRU$XWRULGDGFRPSHWHQWH
E/DWRPDGHSRVHVLyQGHQWURGHOSOD]RTXHVHHVWDEOH]FD
F7RGRVORVUHTXLVLWRVDQWHULRUPHQWHPHQFLRQDGRVVRQFRUUHFWRV
/D /H\ GH GH DEULO GHO (VWDWXWR %iVLFR GHO (PSOHDGR 3~EOLFR
GLFHTXHODMXELODFLyQYROXQWDULDGHORVIXQFLRQDULRVSRGUiVHU
D)RU]RVDDOFXPSOLUODHGDGOHJDOPHQWHHVWDEOHFLGD
E9ROXQWDULDDVROLFLWXGGHOIXQFLRQDULR
'HDFXHUGRFRQHO&yGLJRSHQDOVHFRQVLGHUDIXQFLRQDULRS~EOLFR
D /D SHUVRQD LQFRUSRUDGD D OD $GPLQLVWUDFLyQ S~EOLFD SRU XQD UHODFLyQ GH VHUYLFLRV
SURIHVLRQDOHV\UHWULEXLGRVUHJXODGDSRUHO'HUHFKRDGPLQLVWUDWLYR
E(OHPSOHDGRTXHHQYLUWXGGHQRPEUDPLHQWROHJDOGHVHPSHxDVHUYLFLRVSHUPDQHQ
WHVHQXQD$GPLQLVWUDFLyQ
F7RGRHOTXHSRUGLVSRVLFLyQLQPHGLDWDGHODOH\RSRUHOHFFLyQRSRUQRPEUDPLHQWR
GHDXWRULGDGFRPSHWHQWHSDUWLFLSHHQHOHMHUFLFLRGHIXQFLRQHVS~EOLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XHHOIXQFLRQDULRUH~QDORVUHTXLVLWRV\FRQGLFLRQHVHVWDEOHFLGRVHQHO5p
JLPHQGH6HJXULGDG6RFLDOTXHOHVHDDSOLFDEOHHVUHTXLVLWRSDUDTXHDOIXQFLRQDULR
TXHODSLGDSURFHGDFRQFHGHUOHODMXELODFLyQ
D9ROXQWDULD
E)RU]RVD
F3DUFLDO
(OQ~PHUR\ODVFRQGLFLRQHVUHWULEXWLYDVGHOSHUVRQDOHYHQWXDOVHUiQ
D5HVHUYDGDV
E3RUVHUSOD]DVGHOLEUHGHVLJQDFLyQSDFWDGDVDOPDUJHQGHORVSUHVXSXHVWRV
F3~EOLFDV
&RQDUUHJORDODQXHYD/H\ORV&XHUSRV\(VFDODVGHIXQFLRQDULRVVH
FUHDQPRGLILFDQ\VXSULPHQSRU
D/H\GHODV&RUWHV*HQHUDOHVH[FOXVLYDPHQWH
E7DPELpQGHIRUPDH[FOXVLYDSRUOH\GHODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGD
GHV$XWyQRPDV
F/H\GHODV&RUWHV*HQHUDOHVRGHODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV
$XWyQRPDV
&RQDUUHJORDODQXHYD/H\VRQHPSOHDGRVS~EOLFRVORV
D)XQFLRQDULRVGHFDUUHUD\IXQFLRQDULRVLQWHULQRV
E)XQFLRQDULRVGHFDUUHUDIXQFLRQDULRVLQWHULQRV\SHUVRQDOODERUDO
F)XQFLRQDULRVGHFDUUHUDIXQFLRQDULRVLQWHULQRVSHUVRQDOODERUDO\SHUVRQDOHYHQWXDO
/DRIHUWDGHHPSOHRS~EOLFRQRGHEHFRQWHQHUQHFHVDULDPHQWH
D/DVEDVHVGHODVFRQYRFDWRULDV
E7RGDVODVSOD]DVGRWDGDVSUHVXSXHVWDULDPHQWHTXHVHKDOOHQYDFDQWHV
F7RGDVODVSOD]DVTXHGHEDQVHUREMHWRGHSURYLVLyQHQHOFRUUHVSRQGLHQWHHMHUFLFLR
SUHVXSXHVWDULR\ODVSUHYLVLRQHVWHPSRUDOHVSDUDODSURYLVLyQGHORVUHVWDQWHV
8QSXHVWRGHWUDEDMRTXHQRVHKDOOHLQFOXLGRHQODRIHUWDGHHPSOHRS~EOLFR
QRSXHGH
D6HUSUHVXSXHVWDGR
E6HUFRQYRFDGR
F,QFOXLUVHHQORVFDStWXORVFX\RJDVWRHVWpWDVDGRSRUOH\
(QORV5HJLVWURVGH3HUVRQDOGHEHUiLQVFULELUVHDWRGRHOSHUVRQDO
D)XQFLRQDULRGHFDUUHUDHLQWHULQR
E&RQWUDWDGR\ODERUDO
F$OVHUYLFLRGHOD$GPLQLVWUDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
,QGLTXHODUHVSXHVWDTXHQRHVFRUUHFWD
D(OSHUVRQDOWHQGUiOLEUHDFFHVRDVXH[SHGLHQWHLQGLYLGXDO
E(QHOH[SHGLHQWHLQGLYLGXDOQRSRGUiILJXUDUQLQJ~QGDWRUHODWLYRDOVH[RUD]DUHOLJLyQ
XRSLQLyQ
F/D$GPLQLVWUDFLyQGHO(VWDGROOHYDUiHO5HJLVWURGHORVIXQFLRQDULRVORFDOHVFRQKD
ELOLWDFLyQQRPLQDO
/DUHODFLyQGHOSHUVRQDOIXQFLRQDULRFRQOD$GPLQLVWUDFLyQS~EOLFDVHUHJXOD
D7DQWRSRUHO'HUHFKRODERUDOFRPRSRUHO'HUHFKRDGPLQLVWUDWLYR
E3RUHO(VWDWXWRGHORV7UDEDMDGRUHV
F3RUHO'HUHFKRDGPLQLVWUDWLYR
(QHO*UXSR&GHFODVLILFDFLyQSURIHVLRQDOGHOSHUVRQDOIXQFLRQDULRGHFD
UUHUDVHH[LJHWLWXODFLyQGH
D8QLYHUVLWDULRGH*UDGR
E%DFKLOOHUR7pFQLFR
F(GXFDFLyQ6HFXQGDULD2EOLJDWRULD
/DV SHUVRQDV TXH DFW~DQ HVSRUiGLFDPHQWH X RFDVLRQDOPHQWH SUHVWDQGR
VHUYLFLRVDOD$GPLQLVWUDFLyQVRQFRQVLGHUDGRVIXQFLRQDULRV"
D6t
E1R
F6yORFXDQGRODUHODFLyQGHVHUYLFLRHVWiVXMHWDDO'HUHFKRODERUDO
/RVSROtWLFRV\HOSHUVRQDOHYHQWXDOTXHWUDEDMDQHQXQD$GPLQLVWUDFLyQS~
EOLFDVRQSRUHOORIXQFLRQDULRV"
D6RQIXQFLRQDULRVVXMHWRVDO'HUHFKRODERUDO
E1RVRQIXQFLRQDULRV
F6tVRQIXQFLRQDULRVFRPRORVGHPiV
(OIXQFLRQDULRGHKHFKRQRHVFRQVLGHUDGRSRUODOH\IXQFLRQDULRGHFDUUHUD
SRUTXHOHIDOWD
D/DSHUPDQHQFLDHQHOFDUJR
E(OQRPEUDPLHQWROHJDO
F/DWRPDGHSRVHVLyQ
(QOD$GPLQLVWUDFLyQS~EOLFDHOSHUVRQDOIXQFLRQDULRHVODUHJOD\HOSHUVR
QDOODERUDOODH[FHSFLyQ
D&LHUWR
E)DOVR
F'HEHQVHUDSDUWHVLJXDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'H ODV VLJXLHQWHV IXQFLRQHV FXiO GH HOODV HVWi UHVHUYDGD SRU OH\ D ORV
IXQFLRQDULRVS~EOLFRV"
D/DVTXHLPSOLTXHQODSDUWLFLSDFLyQGLUHFWDRLQGLUHFWDHQHOHMHUFLFLRGHSRWHVWDGHV
S~EOLFDV
E/DVTXHVXSRQJDQOLPLWDFLyQGHGHUHFKRVIXQGDPHQWDOHVROLEHUWDGHVS~EOLFDV
F/RVDFWRVDGPLQLVWUDWLYRVTXHVHDSDUWHQGHOFULWHULRVHJXLGRSRURWURVSUHFHGHQWHV
/DVIXQFLRQHVGHIHS~EOLFD\DVHVRUDPLHQWROHJDOSUHFHSWLYRHVWiQUHVHU
YDGRVSRUOH\
D$IXQFLRQDULRVHYHQWXDOHV
E$SHUVRQDOGHJUDGRVXSHULRU
F$IXQFLRQDULRVS~EOLFRV
&yPRVHFHVDHQODUHODFLyQIXQFLRQDULDOFRQOD$GPLQLVWUDFLyQ"
D3RUMXELODFLyQ
E3RULQKDELOLWDFLyQ
F6yORFRQODPXHUWH
$FXiOGHHVWDVUHODFLRQHVVHOHGHQRPLQDIXQFLRQDULR"
D3HUVRQDTXHWUDEDMDSDUDOD$GPLQLVWUDFLyQGHO(VWDGR
E3HUVRQDTXHWUDEDMDSDUDOD$GPLQLVWUDFLyQ3~EOLFD\WLHQHFRQWUDWRODERUDO
F3HUVRQDLQFRUSRUDGDDOD$GPLQLVWUDFLyQ3~EOLFDSRUXQDUHODFLyQGHVHUYLFLRVSURIH
VLRQDOHV\UHWULEXLGRVUHJXODGDSRUHO'HUHFKR$GPLQLVWUDWLYR
&XiQWRWLHPSRWLHQHXQIXQFLRQDULRSDUDODWRPDGHSRVHVLyQGHVXSXHVWR
GHWUDEDMRGHVSXpVGHVXSHUDUODVSUXHEDVGHDFFHVRDODIXQFLyQS~EOLFD"
D7UHVGtDVVLYLYHHQODPLVPDORFDOLGDG
E9HLQWHGtDVQDWXUDOHV
F8QPHV
8QIXQFLRQDULRGHFDUUHUDHQHOHMHUFLFLRGHVXVIXQFLRQHVTXpQRSXH
GHVHU"
D6HQDGRU
E'LULJHQWHGHXQ6LQGLFDWR
F'LUHFWRUGHXQ&OXEGH*ROI
(QWUHODVFDXVDVGHSpUGLGDGHODFRQGLFLyQGHIXQFLRQDULRGHFDUUHUDFXiO
HVQRUHKDELOLWDEOHSDUDSHUPLWLUQXHYRLQJUHVR"
D/DVHSDUDFLyQGHOVHUYLFLR
E/DUHQXQFLDRLQKDELOLWDFLyQ
F/DSpUGLGDGHODQDFLRQDOLGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HJ~QOD&RQVWLWXFLyQORVSULQFLSLRVJHQHUDOHVTXHULJHQHQHODFFHVRDOD
IXQFLyQS~EOLFDVRQ
D0pULWR\FDSDFLGDG
E0pULWRFDSDFLGDG\DQWLJHGDG
F&RQJUXHQFLDRSRUWXQLGDG\SURSRUFLRQDOLGDG
6RQIXQFLRQDULRVLQWHULQRVORVTXH
D (Q YLUWXG GH QRPEUDPLHQWR OHJDO GHVHPSHxDQ VHUYLFLRV GH FDUiFWHU SHUPDQHQWH
ILJXUDQHQODVFRUUHVSRQGLHQWHVSODQWLOODV\SHUFLEHQVXHOGRVGHORV3UHVXSXHVWRV*HQHUDOHV
GHO(VWDGR
E/RVTXHSRUUD]RQHVMXVWLILFDGDVGHQHFHVLGDG\XUJHQFLDVRQQRPEUDGRVFRPRWD
OHVSDUDHOGHVHPSHxRGHIXQFLRQHVSURSLDVGHIXQFLRQDULRVGHFDUUHUDFXDQGRVHGHQODV
FLUFXQVWDQFLDVTXHPDUFDODQXHYD/H\
F&RQWUDWDGRVSRUOD$GPLQLVWUDFLyQ&LYLOGHDFXHUGRFRQODOHJLVODFLyQODERUDOTXHOHV
VHUiSOHQDPHQWHDSOLFDEOH\FX\DFRQWUDWDFLyQGHEHUiVHUDXWRUL]DGDUHJODPHQWDULDPHQWH
(OSHUVRQDOODERUDOKDGHWHQHUFRQWUDWR
D$WUDYpVGHHPSUHVDOHJDO
E9HUEDO
F3RUHVFULWR
(VUHTXLVLWRSDUDDGTXLULUODFRQGLFLyQGHIXQFLRQDULRGHFDUUHUD
D6XSHUDUODVSUXHEDVGHVHOHFFLyQ\HQVXFDVRORVFXUVRVGHIRUPDFLyQTXHVHDQ
SURFHGHQWHV
E1RPEUDPLHQWRFRQIHULGRSRUOD$XWRULGDGFRPSHWHQWH\WRPDUSRVHVLyQGHQWURGHO
SOD]RGHXQPHVFRPRPi[LPRDFRQWDUGHVGHODQRWLILFDFLyQGHOQRPEUDPLHQWR
F/RVWUHVUHTXLVLWRVFLWDGRVDQWHULRUPHQWHVRQQHFHVDULRVSDUDDGTXLULUGLFKDFRQGLFLyQ
(QODVFRQYRFDWRULDVGHFXUVRVGHIRUPDFLyQGHGLUHFWLYRVLPSDUWLGRVHQHO
,QVWLWXWR1DFLRQDOGHOD$GPLQLVWUDFLyQ3~EOLFDVHUHVHUYDUiSDUDHPSOHDGDVS~EOL
FDVTXHUH~QDQORVUHTXLVLWRV
D8QFXDUHQWDSRUFLHQWRGHODVSOD]DVFRPRPtQLPRHQWRGRFDVR
E8QFXDUHQWDSRUFLHQWRGHODVSOD]DVFRPRPtQLPRFRPRQRUPDJHQHUDO
F8QFLQFXHQWDSRUFLHQWRGHODVSOD]DVFRPRPtQLPRHQWRGRFDVR
/DVDQFLyQGLVFLSOLQDULDGHVHSDUDFLyQGHOVHUYLFLR
D(VXQDIRUPDGHH[WLQFLyQGHODUHODFLyQIXQFLRQDULDO
E,QKDELOLWDSDUDXQQXHYRLQJUHVRHQOD$GPLQLVWUDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpSOD]RVHDSUREDUiOD2IHUWDGH(PSOHR3~EOLFRGHOD$GPLQLVWUDFLyQ
GHO(VWDGR"
D(QHOSULPHUVHPHVWUHGHFDGDDxRQDWXUDO
E(QHOSULPHUWULPHVWUHGHFDGDDxRQDWXUDO
F(QHOSULPHUPHVGHFDGDDxRQDWXUDO
/RVIXQFLRQDULRVTXHVHLQWHJUDQHQORV&XHUSRV*HQHUDOHV\HQORV&XHUSRV
(VSHFLDOHVVRQ
D,QWHULQRV
E'HHPSOHR
F'HFDUUHUD
/DWLWXODFLyQH[LJLGDSDUDDFFHGHUDXQDHVFDODRFDWHJRUtDGHO*UXSR%HV
D7pFQLFR6XSHULRU
E/LFHQFLDGR8QLYHUVLWDULR
F(O'RFWRUDGR8QLYHUVLWDULR
(QHOVLVWHPDGHVHOHFFLyQGHIXQFLRQDULRVVHJDUDQWL]DQORVSULQFLSLRVGH
E,JXDOGDGPpULWR\OHJDOLGDG
F0pULWRFDSDFLGDGLJXDOGDG\SXEOLFLGDG
(VXQSULQFLSLRGHIXQFLRQDPLHQWRGHOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR
D(ILFDFLDHQHOFXPSOLPLHQWRGHORVREMHWLYRVILMDGRVDVtFRPRREMHWLYLGDG\WUDQVSD
UHQFLDGHODDFWXDFLyQDGPLQLVWUDWLYD
E(ILFLHQFLDHQODDVLJQDFLyQ\XWLOL]DFLyQGHORVUHFXUVRVS~EOLFRV
F7RGRVHOORVORVRQ
/RVIXQFLRQDULRVDOVHUYLFLRGHODV$GPLQLVWUDFLRQHV3~EOLFDVVHDJUXSDUiQ
GHDFXHUGRFRQODWLWXODFLyQH[LJLGDSDUDVXLQJUHVRHQORVVLJXLHQWHVJUXSRV
D*UXSRV$\%
E*UXSRV$%\&
F*UXSRV$%&\'
(VXQGHUHFKRGHORVFLXGDGDQRVHQVXVUHODFLRQHVFRQODV$GPLQLVWUDFLR
QHV3~EOLFDV
D&RQRFHUHQFXDOTXLHUPRPHQWRHOHVWDGRGHODWUDPLWDFLyQGHORVSURFHGLPLHQWRV
HQORVTXHWHQJDQODFRQGLFLyQGHLQWHUHVDGRV\REWHQHUFRSLDGHGRFXPHQWRVFRQWHQLGRV
HQHOORV
E,GHQWLILFDUDODVDXWRULGDGHV\DOSHUVRQDODOVHUYLFLRGHODV$GPLQLVWUDFLRQHV3~EOLFDVEDMR
FX\DUHVSRQVDELOLGDGVHWUDPLWDQORVSURFHGLPLHQWRVDVtFRPRHODFFHVRDORVUHJLVWURV\DUFKL
YRVGHODV$GPLQLVWUDFLRQHV3~EOLFDVHQORVWpUPLQRVSUHYLVWRVHQOD&RQVWLWXFLyQ\HQODVOH\HV
F7RGRVORVDQWHULRUHVVRQGHUHFKRVGHORVFLXGDGDQRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
1RVHSLHUGHODFRQGLFLyQGHIXQFLRQDULRSRU
D%DMDYROXQWDULD
E([FHGHQFLDYROXQWDULD
F3pUGLGDGHODQDFLRQDOLGDGHVSDxROD
/RV IXQFLRQDULRV S~EOLFRV TXH SUHVWDQ VXV VHUYLFLRV HQ ODV 'LSXWDFLRQHV
3URYLQFLDOHVUHFLEHQHOQRPEUHGHIXQFLRQDULRVGHOD$GPLQLVWUDFLyQ
D/RFDO
E$XWRQyPLFD
F,QVWLWXFLRQDO
/D$GPLQLVWUDFLyQ3~EOLFDDFW~DGHDFXHUGRFRQORVSULQFLSLRVGH
D&RRUGLQDFLyQGHVFHQWUDOL]DFLyQ\GHVFRQFHQWUDFLyQ
E&RQVRPHWLPLHQWRSOHQRDODOH\\DO'HUHFKR
(VFDXVDTXHSXHGHSURGXFLUODSpUGLGDGHODFRQGLFLyQGHIXQFLRQDULRGH
FDUUHUD
D/DSpUGLGDGHODQDFLRQDOLGDGHVSDxRODDVtFRPRODUHQXQFLD\ODVDQFLyQGLVFLSOLQD
ULDGHVHSDUDFLyQGHOVHUYLFLR
E/DSHQDSULQFLSDORDFFHVRULDGHLQKDELOLWDFLyQDEVROXWDRHVSHFLDOSDUDFDUJRS~EOLFR
(QODDFWXDOLGDGWRGRVORVWHPDULRVSDUDODFHOHEUDFLyQGHSUXHEDVVHOHF
WLYDV SDUD HO DFFHVR DO HPSOHR S~EOLFR LQFOXLUiQ DOPHQRV XQWHPD UHODWLYR DOD
QRUPDWLYDYLJHQWHHQPDWHULDGH
D3URWHFFLyQPHGLRDPELHQWDO
E,JXDOGDGGHJpQHUR
F&DOLGDGHQODSUHVWDFLyQGHORVVHUYLFLRVS~EOLFRV
&XiOGHODVVLJXLHQWHVFLUFXQVWDQFLDVQRRULJLQDHOFHVHGHORVIXQFLRQDULRV
LQWHULQRV"
D&XDQGRVHFRQVLGHUHTXH\DQRH[LVWHQODVUD]RQHVGHXUJHQFLDTXHPRWLYDURQOD
FREHUWXUDLQWHULQDGHODSOD]D
E&XDQGRSRUFDXVDVVREUHYHQLGDVODSOD]DVHDDPRUWL]DGDRELHQFXDQGRVHSURFHGD
DODFREHUWXUDGHODSOD]DSRUXQIXQFLRQDULRGHFDUUHUD
F7RGDVODVDQWHULRUHVRULJLQDQHOFHVHGHXQIXQFLRQDULRLQWHULQR
/DFRQGLFLyQGHIXQFLRQDULRGHFDUUHUDVHDGTXLHUHIRUPDOPHQWH
D'HVGHTXHVHVXSHUDQODVSUXHEDVGHVHOHFFLyQ
E'HVGHODIHFKDGHQRPEUDPLHQWR
F'HVGHODWRPDGHSRVHVLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&RQFDUiFWHUJHQHUDOODMXELODFLyQIRU]RVDVHGHFODUDDOFXPSOLUHOIXQFLR
QDULRODHGDGGH
D6HVHQWD\FLQFRDxRV
E6HVHQWD\GRVDxRV
F6HVHQWD
3DUDFRQYRFDUXQSURFHVRVHOHFWLYRSDUDHODFFHVRDODFRQGLFLyQGHIXQ
FLRQDULRGHFDUUHUDGHO(VWDGRVHH[LJLUiXQLQIRUPHSUHYLRTXLpQWHQGUiTXHHPLWLU
GLFKRLQIRUPH"
D(O'HSDUWDPHQWR0LQLVWHULDODOTXHHVWpDGVFULWRHO&XHUSRR(VFDOD
E (O PLVPR yUJDQR TXH SRVWHULRUPHQWH QRPEUDUi D ORV DVSLUDQWHV IXQFLRQDULRV HQ
SUiFWLFDVHQFDVRGHH[LVWLUFXUVRVHOHFWLYRRSHUtRGRGHSUiFWLFDV
F/D'LUHFFLyQ*HQHUDOGHOD)XQFLyQ3~EOLFD
6HxDOHODSURSRVLFLyQYHUGDGHUD
D/DVFRQYRFDWRULDVSRGUiQGHWHUPLQDUTXHHQDTXHOORVSURFHVRVVHOHFWLYRVHQORVTXH
FRQFXUUDQ FLUFXQVWDQFLDV HVSHFLDOHV OD WRWDOLGDG R SDUWH GH ODV SUXHEDV VH FHOHEUHQ GH
IRUPDGHVFHQWUDOL]DGD
E6DOYRH[FHSFLRQHVGHELGDPHQWHMXVWLILFDGDVHQORVSURFHGLPLHQWRVGHVHOHFFLyQTXH
FRQVWHQGHYDULRVHMHUFLFLRVDOPHQRVXQRGHEHUiWHQHUFDUiFWHUSUiFWLFRJDUDQWL]iQGRVH
HQWRGRFDVRORVSULQFLSLRVGHLJXDOGDGPpULWR\FDSDFLGDGDVtFRPRHOGHSXEOLFLGDG
3DUD TXp DFWR GHO SURFHGLPLHQWR VHOHFWLYR OD $GPLQLVWUDFLyQ RWRUJD DO
DVSLUDQWHDIXQFLRQDULRGHFDUUHUDXQSOD]RGHYHLQWHGtDVQDWXUDOHV"
D3UHVHQWDFLyQGHODVVROLFLWXGHVGHSDUWLFLSDFLyQ
E3UHVHQWDFLyQGHODGRFXPHQWDFLyQDFUHGLWDWLYDGHFXPSOLUWRGRVORVUHTXLVLWRVSDUD
SRGHUVHUQRPEUDGRVIXQFLRQDULRVGHFDUUHUD
(QXQSURFHVRVHOHFWLYRGHVGHODWRWDOFRQFOXVLyQGHXQHMHUFLFLRRSUXHED
KDVWDHOFRPLHQ]RGHODVLJXLHQWHGHEHUiWUDQVFXUULUXQSOD]RGH
D0tQLPRGHGtDVQDWXUDOHV\Pi[LPRGHGtDVQDWXUDOHV
E0tQLPRGHKRUDV\Pi[LPRGHGtDVQDWXUDOHV
F0tQLPRGHKRUDV\Pi[LPRGHGtDVQDWXUDOHV
0HGLDQWHTXpWLSRGHQRUPDVHSXHGHSURFHGHUDODFUHDFLyQUHIXQGLFLyQ
PRGLILFDFLyQRVXSUHVLyQGH&XHUSRV\(VFDODV"
D5HDO'HFUHWR
E/H\GHODV&RUWHV*HQHUDOHV
F2UGHQGHO0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOHVHOSOD]RGHTXHGLVSRQHXQDVSLUDQWHTXHKD\DVXSHUDGRXQSUR
FHVRVHOHFWLYRSDUDWRPDUSRVHVLyQFRPRIXQFLRQDULRGHFDUUHUD"
D8QPHVGHVGHHOQRPEUDPLHQWRFRPRIXQFLRQDULRGHFDUUHUDSRUHOyUJDQRFRPSH
WHQWH
E8QPHVGHVGHODSXEOLFDFLyQGHOQRPEUDPLHQWRFRPRIXQFLRQDULRGHFDUUHUD
F 9HLQWH GtDV QDWXUDOHV GHVGH HO QRPEUDPLHQWR FRPR IXQFLRQDULR GH FDUUHUD SRU HO
RUJDQLVPRFRPSHWHQWH
(OVLVWHPDVHOHFWLYRFRQVLVWHQWHHQODFHOHEUDFLyQGHXQDRPiVSUXHEDV
SDUDGHWHUPLQDUODFDSDFLGDG\DSWLWXGGHORVDVSLUDQWHV\ODFDOLILFDFLyQGHOORV
PpULWRVGHORVPLVPRVILMDQGRXQRUGHQGHSUHODFLyQVHGHQRPLQD
D2SRVLFLyQ
E&RQFXUVR
F&RQFXUVRRSRVLFLyQ
4XLpQ DSUXHED OD 2IHUWD GH (PSOHR 3~EOLFR GH OD $GPLQLVWUDFLyQ GHO
(VWDGR"
E(O*RELHUQR
F(O0LQLVWHULRGH(FRQRPtD\+DFLHQGD
(QXQSURFHVRGHVHOHFFLyQGHIXQFLRQDULRVGHFDUUHUDORVDQXQFLRVSDUD
ODFHOHEUDFLyQGHQXHYRVHMHUFLFLRVSRVWHULRUHVDOSULPHURGHEHUiQUHDOL]DUVHFRQ
XQDDQWHODFLyQPtQLPDGH
D&XDUHQWD\RFKRKRUDV
E9HLQWLFXDWURKRUDV
F6HWHQWD\GRVKRUDV
3RU FXiO GH ODV VLJXLHQWHV FLUFXQVWDQFLDV QR VH SLHUGH OD FRQGLFLyQ GH
IXQFLRQDULRGHFDUUHUD"
D3RULQKDELOLWDFLyQDEVROXWDRHVSHFLDOSDUDFDUJRS~EOLFRTXHWXYLHUHFDUiFWHUILUPH
E'XUDQWHORVSHUtRGRVGHVXVSHQVLyQILUPHGHIXQFLRQHV
F&XDQGRVHLPSRQJDODVDQFLyQGHVHSDUDFLyQGHOVHUYLFLR
4XpSRUFHQWDMHLJXDORVXSHULRUUHVSHFWLYDPHQWHGHGLVFDSDFLGDGVH
H[LJHSDUDSUHVHQWDUVHDXQSURFHVRVHOHFWLYRSRUHOWXUQRGHGLVFDSDFLWDGRV"
D$O
E$O
F$O
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpFRQFHSWRUHWULEXWLYRQRSXHGHSHUFLELUHQQLQJ~QFDVRXQIXQFLRQDULR
LQWHULQR"
D3DJDVH[WUDRUGLQDULDV
E7ULHQLRV
F&RPSOHPHQWRGHSURGXFWLYLGDG
(QXQSURFHVRVHOHFWLYRFXiQGRQRVHDFXPXODUiQODVSOD]DVQRFXELHU
WDVSRUHOWXUQRGHSURPRFLyQLQWHUQDDODVRIHUWDGDVSDUDHODFFHVROLEUH"
D(QQLQJ~QFDVR
E&XDQGRVHWUDWHGHFRQYRFDWRULDVPL[WDV
F&XDQGRVHWUDWHGHFRQYRFDWRULDVLQGHSHQGLHQWHVRHVSHFtILFDV
/RVIXQFLRQDULRVGHVLJQDGRVSDUDUHDOL]DUIXQFLRQHVGHFRQILDQ]DRDVHVR
UDPLHQWRVRQORV
D,QWHULQRV
E(YHQWXDOHV
F'HFDUUHUD
/D/H\GHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFRHVOD
DGHGHDEULO
EGHGHDEULO
FGHGHPD\R
(QWUHODVVLJXLHQWHVRSFLRQHVDTXLpQKDUHGXFLGRODDQWHULRU/H\VXSDU
WLFLSDFLyQ"
D$ODV&RPXQLGDGHV$XWyQRPDV
E$O(VWDGR
F$ODV&RUSRUDFLRQHV/RFDOHV
$OGHFLU4XLHQHVGHVHPSHxDQIXQFLRQHVUHWULEXLGDVHQODV$GPLQLVWUDFLR
QHV3~EOLFDVDOVHUYLFLRGHORVLQWHUHVHVJHQHUDOHVHVWDPRVGHILQLHQGR
D/RVIXQFLRQDULRVGHFDUUHUD
E/RVIXQFLRQDULRVLQWHULQRV
F/RVHPSOHDGRVS~EOLFRV
/DGLIHUHQFLDHQWUHHOSHUVRQDOTXHGLVWLQJXHODQXHYDOH\DOOODPDUORV
ILMRVSRUWLHPSRLQGHILQLGRRWHPSRUDOVHUHILHUH
F$OSHUVRQDOODERUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DGHILQLFLyQTXHHQXQFLDODFLWDGD/H\DOGHFLU4XLHQHVHQYLU
WXGGHQRPEUDPLHQWROHJDOHVWiQYLQFXODGRVDXQD$GPLQLVWUDFLyQ3~EOLFDSRUXQD
UHODFLyQHVWDWXWDULDUHJXODGDSRUHO'HUHFKR$GPLQLVWUDWLYRSDUDHOGHVHPSHxRGH
VHUYLFLRVSURIHVLRQDOHVUHWULEXLGRVGHFDUiFWHUSHUPDQHQWHHVODGH
D)XQFLRQDULRVLQWHULQRV
E)XQFLRQDULRVGHFDUUHUD
F3HUVRQDOODERUDO
'H OD GHILQLFLyQ HQXQFLDGD DQWHULRUPHQWH VH GHVSUHQGHQ FLHUWDV QRWDV
FDUDFWHUtVWLFDVVHxiOHODV
D8QFRQWHQLGRGHDFWLYLGDGHVWHPSRUDOHVRDFFLGHQWDOHV
E/DLQVFULSFLyQHQHO/LEUR5HJLVWURGH3HUVRQDOGHOUJDQRFRUUHVSRQGLHQWHKHFKR
SRUHO6HFUHWDULR
F/DH[FOXVLyQGHRWURVGHYHQJRVTXHQRVHDQFRQFDUJRDORV3UHVXSXHVWRV3~EOLFRV
0HGLDQWHTXpWLSRGHQRUPDVHSXHGHSURFHGHUDODFUHDFLyQUHIXQGLFLyQ
PRGLILFDFLyQRVXSUHVLyQGH&XHUSRV\(VFDODV"
D5HDO'HFUHWR
F2UGHQGHO0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
4XLpQ WLHQH OD FRPSHWHQFLD SDUD HIHFWXDU HO QRPEUDPLHQWR \ FHVH GHO
SHUVRQDOHYHQWXDO"
E(O*RELHUQR
F/RV0LQLVWURV\ORV6HFUHWDULRVGH(VWDGRHQHOiPELWRGHVXVUHVSHFWLYDVFRPSH
WHQFLDV
6HxDOHODSURSRVLFLyQYHUGDGHUDHQUHODFLyQFRQHOSHUVRQDOODERUDODOVHU
YLFLRGHXQD$GPLQLVWUDFLyQ3~EOLFD
D /D $GPLQLVWUDFLyQ QR SRGUi FRQYHUWLU HQ ILMD R LQGHILQLGD XQD UHODFLyQ GH FDUiFWHU
WHPSRUDO
E/DFRQWUDWDFLyQGHSHUVRQDOODERUDODOPDUJHQGHODVQRUPDVHVWDEOHFLGDVGDUiOXJDU
DODUHVSRQVDELOLGDGSHUVRQDOGHODDXWRULGDGRGHOIXQFLRQDULRTXHODKXELHUDDXWRUL]DGR\
KDEUiQGHIRUPDOL]DUVHHQWRGRFDVRSRUHVFULWR
'HVGHFXiQGRVHFRPSXWDHOSOD]RTXHWLHQHOD$GPLQLVWUDFLyQSDUDGH
FODUDUTXLpQSXHGH\TXLpQQRSXHGHSDUWLFLSDUHQXQSURFHVRVHOHFWLYR"
D'HVGHHOGtDGHODSXEOLFDFLyQGHODFRQYRFDWRULDHQHO%ROHWtQ2ILFLDOGHO(VWDGR
E'HVGHHOGtDVLJXLHQWHDODSXEOLFDFLyQHQHO%ROHWtQ2ILFLDOGHO(VWDGR
F'HVGHODIHFKDGHH[SLUDFLyQGHOSOD]RGHSUHVHQWDFLyQGHLQVWDQFLDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVHSDUDFLyQGHOVHUYLFLRGHOD$GPLQLVWUDFLyQGHO(VWDGRLQKDELOLWDSDUD
QXHYRLQJUHVR
D&RPRIXQFLRQDULRGHFDUUHUDHQOD$GPLQLVWUDFLyQ3~EOLFDHQJHQHUDO
E&RPRSHUVRQDOODERUDODOVHUYLFLRGHXQD&RUSRUDFLyQ/RFDO
4XpDQWLJHGDGVHUHTXLHUHSDUDTXHXQIXQFLRQDULRSXHGDSUHVHQWDUVX
VROLFLWXGSRUHOWXUQRGHSURPRFLyQLQWHUQD"
D7HQHUXQDDQWLJHGDGGHDOPHQRVGRVDxRVHQ&XHUSRVGHO*UXSRGHSURFH
GHQFLD
E7HQHUXQDDQWLJHGDGGHDOPHQRVWUHVDxRVHQ&XHUSRVGHO*UXSRGHSURFH
GHQFLD
F7HQHUXQDDQWLJHGDGGHDOPHQRVGRVDxRVHQHOSXHVWRGHWUDEDMRGHILQLWLYRDQ
WHULRU
'HODGHILQLFLyQGH)XQFLRQDULRVGHFDUUHUDTXHSURSRUFLRQDOD/H\
4XLHQHVHQYLUWXGGHQRPEUDPLHQWROHJDOHVWiQYLQFXODGRVDXQD$GPLQLVWUDFLyQ
3~EOLFDSRUXQDUHODFLyQHVWDWXWDULDUHJXODGDSRUHO'HUHFKR$GPLQLVWUDWLYRSDUDHO
GHVHPSHxRGHVHUYLFLRVSURIHVLRQDOHVUHWULEXLGRVGHFDUiFWHUSHUPDQHQWHVHxDOH
ODVQRWDVFDUDFWHUtVWLFDVTXHVHGHVSUHQGHQGHODPLVPD
D1RPEUDPLHQWROHJDOKHFKRSRUOD$XWRULGDGFRPSHWHQWH\VHJ~QORHVWDEOHFLGR
E6XYLQFXODFLyQDXQD$GPLQLVWUDFLyQ3~EOLFD\SRUWDQWRDODQRUPDWLYDGHO'HUHFKR
$GPLQLVWUDWLYRFRQXQFRPHWLGRGHFDUiFWHUSHUPDQHQWHUHYHVWLGRGHSHUPDQHQFLD\HV
WDELOLGDGHQHOWUDEDMR
4XpVLJQLILFDTXHHO&XHUSR1DFLRQDOGH3ROLFtDWHQJDFRPR'HUHFKRVX
SOHWRULRDVXOHJLVODFLyQHVSHFtILFDODOHJLVODFLyQJHQHUDOGHORVIXQFLRQDULRVGHOD
$GPLQLVWUDFLyQ&LYLOGHO(VWDGR"
D4XHVHDSOLFDODOHJLVODFLyQPiVIDYRUDEOHDORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH
3ROLFtD
E4XHHQFDVRGHGXGDVLHPSUHVHDSOLFDODOHJLVODFLyQJHQHUDOGHORVIXQFLRQDULRV
S~EOLFRV
F4XHHQGHIHFWRGHQRUPDHVSHFtILFDSDUDOD3ROLFtDVHDSOLFDODOHJLVODFLyQJHQHUDO
GHORVIXQFLRQDULRV
4XLHQHVQRSXGLHUDQUHDOL]DUHOFXUVRVHOHFWLYRRHOSHUtRGRGHSUiFWLFDV
SRUFDXVDGHIXHU]DPD\RUGHELGDPHQWHMXVWLILFDGDSRGUiQHIHFWXDUORFRQSRVWH
ULRULGDG
D &RQ OD SXQWXDFLyQ DVLJQDGD DO ~OWLPR GH ORV DVSLUDQWHV SDUWLFLSDQWHV HQ HO FXUVR
VHOHFWLYRRSHUtRGRGHSUiFWLFDV
E&RQODSXQWXDFLyQPHGLDGHORVDVSLUDQWHVSDUWLFLSDQWHVHQHOFXUVRVHOHFWLYRRSH
UtRGRGHSUiFWLFDV
F,QWHUFDOiQGRVHHQHOOXJDUFRUUHVSRQGLHQWHDODSXQWXDFLyQREWHQLGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiQGRVHUiQQRPEUDGRVORVyUJDQRVGHFRODERUDFLyQGHORV7ULEXQDOHV
GHVLJQDGRVSDUDODVHOHFFLyQGHIXQFLRQDULRVLQWHULQRV"
D&XDQGRHOQ~PHURGHSOD]DVDFXEULULQWHULQDPHQWHORDFRQVHMH
E&XDQGRODGLVSHUVLyQJHRJUiILFDGHODVSOD]DVREMHWRGHFREHUWXUDDVtORDFRQVHMH
&XiOGHODVVLJXLHQWHVFDUDFWHUtVWLFDVGHILQHODUHODFLyQGHORVIXQFLRQD
ULRVGHFDUUHUDFRQXQD$GPLQLVWUDFLyQ3~EOLFD"
D5HODFLyQSURIHVLRQDO\UHWULEXLGDFRQIRUPHDORSUHYLVWRHQODVQRUPDVPHUFDQWLOHV
E6HUHJXODSRUHO'HUHFKR$GPLQLVWUDWLYR
F2FXSDQSXHVWRVGHWUDEDMRFRQILQHVDGPLQLVWUDWLYRVRSROtWLFRV
6HxDOHFXiOGHODVVLJXLHQWHVFLUFXQVWDQFLDVQRGHEHUiDSDUHFHUREOLJD
WRULDPHQWHGHQWURGHOFRQWHQLGRPtQLPRGHXQDFRQYRFDWRULDSDUDHODFFHVRDOD
FRQGLFLyQGHIXQFLRQDULR
D1~PHURFDUDFWHUtVWLFDV\ORFDOL]DFLyQGHODVSOD]DVFRQYRFDGDV
E&HQWURR8QLGDG$GPLQLVWUDWLYDDTXHGHEHQGLULJLUVHODVVROLFLWXGHVGHSDUWLFLSDFLyQ
F6LVWHPDGHFDOLILFDFLyQ
/RVIXQFLRQDULRVHVWDWDOHVGHSHQGHQGHO0LQLVWHULRGH3ROtWLFD7HUULWRULDO\
$GPLQLVWUDFLyQ3~EOLFD
D)XQFLRQDOPHQWH
E2UJiQLFDPHQWH
F2UJiQLFD\IXQFLRQDOPHQWH
&XiOHVHOVLVWHPDH[FHSFLRQDOGHVHOHFFLyQGHOSHUVRQDOIXQFLRQDULR"
D(OFRQFXUVRRSRVLFLyQ
E/DOLEUHGHVLJQDFLyQ
F(OFRQFXUVR
/DSHUPDQHQFLDHQHOWUDEDMRSDUDOD$GPLQLVWUDFLyQHVXQDFDUDFWHUtVWLFD
D'HORVIXQFLRQDULRVLQWHULQRV
E'HOSHUVRQDOHYHQWXDO
F'HORVIXQFLRQDULRVGHFDUUHUD
(Q TXp GHEH EDVDUVH OD VHOHFFLyQ GH WRGR HO SHUVRQDO TXH SUHVWH VXV
VHUYLFLRVDODV$GPLQLVWUDFLRQHV3~EOLFDV"
D(QTXHFRQFXUUDQHQHOORVODFDSDFLGDGORVPpULWRV\ODVXSHUDFLyQGHODVSUXHEDV
H[LJLGDV
E(QODRIHUWDGHHPSOHRS~EOLFR
F(QODVQHFHVLGDGHVGHFDGD$GPLQLVWUDFLyQSURSXHVWDVSRUVXVyUJDQRVUHFWRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D/H\GHO(PSOHR3~EOLFRFODVLILFDFRPRHPSOHDGRVS~EOLFRV
D$ORVGHFDUUHUDLQWHULQRVHYHQWXDOHV\GLUHFWLYRV
E3HUVRQDOODERUDOILMRSRUWLHPSRLQGHILQLGR\WHPSRUDOHV
F/RVRQWRGRVORVFLWDGRVDQWHULRUPHQWH
$TXp*UXSRGHIXQFLRQDULRVVHOHVH[LJH/LFHQFLDWXUD8QLYHUVLWDULD"
D$ORVGHO*UXSR$
E$ORVGHO*UXSR%
F$ORVGHO*UXSR&
&XiOHVHODFWRGHIRUPDOL]DFLyQPHGLDQWHHOTXHVHDGTXLHUHODFRQGLFLyQ
GHIXQFLRQDULRGHFDUUHUD"
D&RQODVXSHUDFLyQGHORVH[iPHQHVGHOD2SRVLFLyQ
E&RQHOQRPEUDPLHQWRTXHKDFHOD$XWRULGDGFRPSHWHQWHDOFRQFOXLUHOSHUtRGRGH
SUiFWLFDVH[LJLGRHQVXFDVR
F&RQODWRPDGHSRVHVLyQGHVXSXHVWRGHWUDEDMR
/DVSHUVRQDVTXHGHVHPSHxDQIXQFLRQHVUHWULEXLGDVHQODV$GPLQLVWUDFLR
QHV3~EOLFDVDOVHUYLFLRGHORVLQWHUHVHVJHQHUDOHVUHFLEHQHOQRPEUHGH
D(PSOHDGRVS~EOLFRV
E)XQFLRQDULRVS~EOLFRV
F$GPLQLVWUDWLYRV
7RGR DTXpO TXH SRU GHILQLFLyQ LQPHGLDWD GH OD OH\ R SRU HOHFFLyQ R SRU
QRPEUDPLHQWR GH OD DXWRULGDG FRPSHWHQWH SDUWLFLSH HQ HO HMHUFLFLR GH IXQFLRQHV
S~EOLFDVHVODGHILQLFLyQTXHGDGHIXQFLRQDULRS~EOLFR
D/D/H\GHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFR
E/D/H\GHO*RELHUQR
F(O&yGLJR3HQDO
1RVHFRQVLGHUDXQDIRUPDDQRUPDOGHH[WLQFLyQGHODUHODFLyQIXQFLRQDULDO
D/DVDQFLyQGLVFLSOLQDULDGHVXVSHQVLyQGHIXQFLRQHV
F/DUHQXQFLDDODFRQGLFLyQGHIXQFLRQDULR
(OFDUiFWHUGHSHUPDQHQFLDHVVLQJXODUGHORV
E'HORVIXQFLRQDULRVLQWHULQRV
F'HOSHUVRQDOHYHQWXDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DV$GPLQLVWUDFLRQHV3~EOLFDVVHOHFFLRQDQDWRGRHOSHUVRQDODVXVHUYLFLR
FRQDUUHJORD
D/RVSULQFLSLRVGHPpULWRVFDSDFLGDG\DQWLJHGDG
E/DVDSWLWXGHV\FXDOLILFDFLyQGHORVDVSLUDQWHV
(QWUHODVFDUDFWHUtVWLFDVSURSLDVGHORVIXQFLRQDULRVGHFDUUHUDVHHQFXHQWUD
D(OQRPEUDPLHQWROHJDOKHFKRSRU$XWRULGDGFRPSHWHQWH
E6XYLQFXODFLyQFRQODQRUPDWLYDGHO'HUHFKR$GPLQLVWUDWLYR
7RGRVORVFLXGDGDQRVWLHQHQGHUHFKRDODFFHVRDOHPSOHRS~EOLFRGHDFXHU
GRFRQORVSULQFLSLRVFRQVWLWXFLRQDOHVGH
F$QWLJHGDGLJXDOGDGGHRSRUWXQLGDGHV\FDSDFLGDG
/RVHPSOHDGRVS~EOLFRVSXHGHQVHU
D'HFDUUHUDLQWHULQRV\HYHQWXDOHV
E3HUVRQDOODERUDO\DVHDILMRSRUWLHPSRLQGHILQLGRRWHPSRUDO
/DMXELODFLyQIRU]RVDGHOIXQFLRQDULRVHSURGXFLUi
D'HRILFLR
E$SHWLFLyQGHOLQWHUHVDGR
F3RUGLVPLQXFLyQGHODVIDFXOWDGHVItVLFDV
/DMXELODFLyQYROXQWDULDH[LJHHOFXPSOLPLHQWRGHXQDVHULHGHUHTXLVLWRV
HQWUHORVTXHFDEHVHxDODU
D9HLQWLFLQFRDxRVHIHFWLYRVGHVHUYLFLRS~EOLFR
E+DEHUFXPSOLGRVHVHQWDDxRV\FRPSOHWDGRWUHLQWDDxRVGHVHUYLFLRVHIHFWLYRV
F+DEHUFXPSOLGRVHVHQWD\GRVDxRV\FRPSOHWDGRYHLQWHDxRVGHVHUYLFLRVHIHFWLYRV
4Xp QRPEUH UHFLEHQ ODV SHUVRQDV TXH SRU UD]RQHV H[SUHVDPHQWH MXV
WLILFDGDV GH QHFHVLGDG \ XUJHQFLD VRQ QRPEUDGRV SRU OD $GPLQLVWUDFLyQ SDUD HO
GHVHPSHxRGHIXQFLRQHVSURSLDVGHIXQFLRQDULRVGHFDUUHUDGiQGRVHFLHUWDVFLU
FXQVWDQFLDV"
E3HUVRQDOODERUDO
F3HUVRQDOHYHQWXDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpFRQGLFLRQHVVHSXHGHDFFHGHUDODFRQGLFLyQGHIXQFLRQDULR"
D 7HQHU FXPSOLGRV GLHFLVpLV DxRV \ QR H[FHGHU HQ VX FDVR GH OD HGDG Pi[LPD GH
MXELODFLyQIRU]RVD
E7HQHUFXPSOLGRVGLHFLRFKRDxRV\QRH[FHGHUHQVXFDVRGHODHGDGPi[LPDGH
MXELODFLyQIRU]RVD
F7HQHUFXPSOLGRVGLHFLRFKRDxRV
8QIXQFLRQDULRS~EOLFRQHFHVDULDPHQWHHVWDUiLQWHJUDGRHQ
D/D$GPLQLVWUDFLyQ(VWDWDORHQOD$XWRQyPLFD
E/D$GPLQLVWUDFLyQ$XWRQyPLFDRHQOD/RFDO
F(QFXDOTXLHUDGHODVWUHV$GPLQLVWUDFLRQHV
8QIXQFLRQDULRHYHQWXDOHQWRGRFDVRFHVD
D&XDQGRFHVHODDXWRULGDGDODTXHSUHVWDVXIXQFLyQDVHVRUDRGHFRQILDQ]D
E3DUDFHVDUORKD\TXHLQVWUXLUOHHOFRUUHVSRQGLHQWHH[SHGLHQWHGLVFLSOLQDULR
F1LQJXQDGHODVGRVUHVSXHVWDVDQWHULRUHVHVFLHUWD
(O(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFRGHILQHDGLFKRVHPSOHDGRVS~
EOLFRVFRPR
D4XLHQHVGHVHPSHxDQIXQFLRQHVUHWULEXLGDVHQODV$GPLQLVWUDFLRQHV3~EOLFDVDOVHU
YLFLRGHORVLQWHUHVHVJHQHUDOHV
E3HUVRQDOODERUDOH[FOXVLYDPHQWHDOVHUYLFLRGHODV$GPLQLVWUDFLRQHV3~EOLFDV
F1LQJXQDGHODVGRVUHVSXHVWDVHVFRUUHFWD
&RQODHQWUDGDHQYLJRUGHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFRTXp
*UXSRFODVLILFDWRULRGHODDQWHULRUOHJLVODFLyQGHVDSDUHFLy"
D*UXSR&
E*UXSR'
F*UXSR%
6LXQIXQFLRQDULRHVWiLQFOXLGRHQHO*UXSR$TXpWLWXODFLyQGHEHWHQHU"
D7tWXOR8QLYHUVLWDULRGH*UDGRXRWUR7tWXOR8QLYHUVLWDULRTXHVHH[LMDOHJDOPHQWH
E7tWXORGH7pFQLFR6XSHULRU
F7tWXORGH%DFKLOOHUR7pFQLFR
'HTXpIRUPDVHYLQFXODHOSHUVRQDOODERUDOFRQOD$GPLQLVWUDFLyQ"
D&RQXQFRQWUDWRYHUEDO
E&RQXQFRQWUDWRHVFULWR
F'HODIRUPDTXHOD$GPLQLVWUDFLyQHVWLPHFRQYHQLHQWH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HTXpUJDQRVGH6HOHFFLyQVHYDOHOD$GPLQLVWUDFLyQ3~EOLFD"
D'HORV7ULEXQDOHV
E'HODV&RPLVLRQHV3HUPDQHQWHVGH6HOHFFLyQ
&XiOHVODVDQFLyQTXHURPSHGHILQLWLYDPHQWH\VLQSRVLELOLGDGGHUHKD
ELOLWDFLyQODUHODFLyQHQWUHOD$GPLQLVWUDFLyQ\XQIXQFLRQDULR"
D/DUHQXQFLDGHOIXQFLRQDULR
E/DVHSDUDFLyQGHOVHUYLFLR
F/DH[FHGHQFLDYROXQWDULD
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E'HEHKDFHUORSRUHVFULWR\VHUiDFHSWDGDH[SUHVDPHQWHSRUOD$GPLQLVWUDFLyQ
VDOYRODVH[FHSFLRQHVOHJDOHV
D(PSOHDGRVS~EOLFRV
F(O&yGLJRSHQDO
F6HDSOLFDVXSOHWRULDPHQWH
F/DVGRVUHVSXHVWDVVRQFLHUWDV
F/DVGRVFLUFXQVWDQFLDVDQWHULRUHVVRQYHUGDGHUDV
E6HLVPHVHV
D$ORV0LQLVWURV\6HFUHWDULRVGH(VWDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F%DFKLOOHUDWRR7pFQLFR
E/RVHYHQWXDOHV
F&LQFRDxRV
D8QLGDGHV3HULIpULFDVGH&RODERUDFLyQ
E$XWRUL]DFLyQFRQMXQWDGHORV0LQLVWHULRVGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ
3~EOLFD\GH(FRQRPtD\+DFLHQGD
D/RV7ULEXQDOHVVHQRPEUDQVDOYRH[FHSFLyQMXVWLILFDGDHQOD2UGHQGH&RQYR
FDWRULD
F(OFRQFXUVR
F&XDQGRVHGpDOJXQDGHODVFLUFXQVWDQFLDVDQWHULRUHV
E$OSHUVRQDOODERUDO
F7RGRVORVDQWHULRUHV
F&XDQGRILQDOLFHODFDXVDTXHGLROXJDUDVXQRPEUDPLHQWR
F(QODVOH\HVGH)XQFLyQ3~EOLFDTXHVHGLFWHQHQGHVDUUROORGHOSUHVHQWH(VWDWXWR
D(O'HUHFKR$GPLQLVWUDWLYR
D6HUiOLEUH
D3HUVRQDOGLUHFWLYR
E/RVUHVSHFWLYRVyUJDQRVGHJRELHUQRTXHODOH\GHWHUPLQH
F3HUVRQDOHYHQWXDO
E'LUHFWLYR
F/RVHYHQWXDOHV
F7UHV*UXSRV$%\&

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E(QODFRQYRFDWRULDS~EOLFDLQVHUWDGDHQHO%ROHWtQ2ILFLDOGHO(VWDGRVLQQHFHVL
GDGGHIHFKDILMDGDH[SUHVDPHQWHSDUDHOPRPHQWRGHH[iPHQHV
E*UXSR%
F&XDOTXLHUDGHODVIRUPDVDQWHULRUHV
F8QPHV
E(O6HFUHWDULRGH(VWDGRSDUDOD$GPLQLVWUDFLyQ3~EOLFD
E/DRSRVLFLyQ
D(OFRQFXUVR
F1RKD\QLQJXQRIDOVRWRGRVORVDQWHULRUHVVRQYHUGDGHURV
F1RSHUGHUiQVXGHUHFKRSRUFDXVDGHIXHU]DPD\RUGHELGDPHQWHMXVWLILFDGD\
DSUHFLDGDSRUOD$GPLQLVWUDFLyQ
F(O,QVWLWXWR1DFLRQDOGH$GPLQLVWUDFLyQ3~EOLFD
D1R
F(QDOJXQDGHODVGRVRSFLRQHVDQWHULRUHV\VHJ~QORVFDVRVHQHO%ROHWtQ2ILFLDO
GHO(VWDGR
D(QQLQJ~QFDVR
DDxRV
F(QORVWUHVVXSXHVWRVDQWHULRUHV
F'HEHVHUDFHSWDGDH[SUHVDPHQWHSRUOD$GPLQLVWUDFLyQVDOYRTXHHOIXQFLRQDULR
HVWpVXMHWRDH[SHGLHQWHGLVFLSOLQDULRSRUSURFHVDPLHQWRRDSHUWXUDGHOMXLFLRRUDOSRUOD
FRPLVLyQGHDOJ~QGHOLWR
F(QWRGRVORVVXSXHVWRVDQWHULRUHV
F/DOH\UHJXODUiODVSDUWLFXODULGDGHVGHOHMHUFLFLRGHOGHUHFKRGHORVIXQFLRQDULRV
S~EOLFRVDODVLQGLFDFLyQ
F7RGRVORVUHTXLVLWRVDQWHULRUPHQWHPHQFLRQDGRVVRQFRUUHFWRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F7RGRHOTXHSRUGLVSRVLFLyQLQPHGLDWDGHODOH\RSRUHOHFFLyQRSRUQRPEUD
PLHQWRGHDXWRULGDGFRPSHWHQWHSDUWLFLSHHQHOHMHUFLFLRGHIXQFLRQHVS~EOLFDV
D9ROXQWDULD
F3~EOLFDV
F/H\GHODV&RUWHV*HQHUDOHVRGHODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV
$XWyQRPDV
F )XQFLRQDULRV GH FDUUHUD IXQFLRQDULRV LQWHULQRV SHUVRQDO ODERUDO \ SHUVRQDO
HYHQWXDO
D/DVEDVHVGHODVFRQYRFDWRULDV
E6HUFRQYRFDGR
F$OVHUYLFLRGHOD$GPLQLVWUDFLyQ
E(QHOH[SHGLHQWHLQGLYLGXDOQRSRGUiILJXUDUQLQJ~QGDWRUHODWLYRDOVH[RUD]D
UHOLJLyQXRSLQLyQ
F3RUHO'HUHFKRDGPLQLVWUDWLYR
F(GXFDFLyQ6HFXQGDULD2EOLJDWRULD
E1R
E1RVRQIXQFLRQDULRV
E(OQRPEUDPLHQWROHJDO
D&LHUWR
D/DVTXHLPSOLTXHQODSDUWLFLSDFLyQGLUHFWDRLQGLUHFWDHQHOHMHUFLFLRGHSRWHVWD
GHVS~EOLFDV
F$IXQFLRQDULRVS~EOLFRV
D3RUMXELODFLyQ
F3HUVRQDLQFRUSRUDGDDOD$GPLQLVWUDFLyQ3~EOLFDSRUXQDUHODFLyQGHVHUYLFLRV
SURIHVLRQDOHV\UHWULEXLGRVUHJXODGDSRUHO'HUHFKR$GPLQLVWUDWLYR
F8QPHV
D6HQDGRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D/DVHSDUDFLyQGHOVHUYLFLR
D0pULWR\FDSDFLGDG
E/RVTXHSRUUD]RQHVMXVWLILFDGDVGHQHFHVLGDG\XUJHQFLDVRQQRPEUDGRVFRPR
WDOHVSDUDHOGHVHPSHxRGHIXQFLRQHVSURSLDVGHIXQFLRQDULRVGHFDUUHUDFXDQGRVHGHQ
ODVFLUFXQVWDQFLDVTXHPDUFDODQXHYD/H\
F3RUHVFULWR
F /RV WUHV UHTXLVLWRV FLWDGRV DQWHULRUPHQWH VRQ QHFHVDULRV SDUD DGTXLULU GLFKD
FRQGLFLyQ
E8QFXDUHQWDSRUFLHQWRGHODVSOD]DVFRPRPtQLPRFRPRQRUPDJHQHUDO
E(QHOSULPHUWULPHVWUHGHFDGDDxRQDWXUDO
F'HFDUUHUD
D7pFQLFR6XSHULRU
F0pULWRFDSDFLGDGLJXDOGDG\SXEOLFLGDG
F7RGRVHOORVORVRQ
E*UXSRV$%\&
F7RGRVORVDQWHULRUHVVRQGHUHFKRVGHORVFLXGDGDQRV
E([FHGHQFLDYROXQWDULD
D/RFDO
E,JXDOGDGGHJpQHUR
F7RGDVODVDQWHULRUHVRULJLQDQHOFHVHGHXQIXQFLRQDULRLQWHULQR
F'HVGHODWRPDGHSRVHVLyQ
D6HVHQWD\FLQFRDxRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F/D'LUHFFLyQ*HQHUDOGHOD)XQFLyQ3~EOLFD
F0tQLPRGHKRUDV\Pi[LPRGHGtDVQDWXUDOHV
E8QPHVGHVGHODSXEOLFDFLyQGHOQRPEUDPLHQWRFRPRIXQFLRQDULRGHFDUUHUD
F&RQFXUVRRSRVLFLyQ
E(O*RELHUQR
E9HLQWLFXDWURKRUDV
E'XUDQWHORVSHUtRGRVGHVXVSHQVLyQILUPHGHIXQFLRQHV
E$O
E7ULHQLRV
F&XDQGRVHWUDWHGHFRQYRFDWRULDVLQGHSHQGLHQWHVRHVSHFtILFDV
E(YHQWXDOHV
DGHGHDEULO
E$O(VWDGR
F/RVHPSOHDGRVS~EOLFRV
F$OSHUVRQDOODERUDO
E)XQFLRQDULRVGHFDUUHUD
F /D H[FOXVLyQ GH RWURV GHYHQJRV TXH QR VHDQ FRQ FDUJR D ORV 3UHVXSXHVWRV
3~EOLFRV
F/RV0LQLVWURV\ORV6HFUHWDULRVGH(VWDGRHQHOiPELWRGHVXVUHVSHFWLYDVFRP
SHWHQFLDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F'HVGHODIHFKDGHH[SLUDFLyQGHOSOD]RGHSUHVHQWDFLyQGHLQVWDQFLDV
D7HQHUXQDDQWLJHGDGGHDOPHQRVGRVDxRVHQ&XHUSRVGHO*UXSRGHSUR
FHGHQFLD
F4XHHQGHIHFWRGHQRUPDHVSHFtILFDSDUDOD3ROLFtDVHDSOLFDODOHJLVODFLyQJH
QHUDOGHORVIXQFLRQDULRV
F,QWHUFDOiQGRVHHQHOOXJDUFRUUHVSRQGLHQWHDODSXQWXDFLyQREWHQLGD
E6HUHJXODSRUHO'HUHFKR$GPLQLVWUDWLYR
D1~PHURFDUDFWHUtVWLFDV\ORFDOL]DFLyQGHODVSOD]DVFRQYRFDGDV
E2UJiQLFDPHQWH
E/DOLEUHGHVLJQDFLyQ
F'HORVIXQFLRQDULRVGHFDUUHUD
E(QODRIHUWDGHHPSOHRS~EOLFR
F/RVRQWRGRVORVFLWDGRVDQWHULRUPHQWH
D$ORVGHO*UXSR$
F&RQODWRPDGHSRVHVLyQGHVXSXHVWRGHWUDEDMR
D(PSOHDGRVS~EOLFRV
F(O&yGLJRSHQDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D'HRILFLR
E+DEHUFXPSOLGRVHVHQWDDxRV\FRPSOHWDGRVWUHLQWDDxRVGHVHUYLFLRVHIHFWLYRV
D7HQHUFXPSOLGRVGLHFLVpLVDxRV\QRH[FHGHUHQVXFDVRGHODHGDGPi[LPD
GHMXELODFLyQIRU]RVD
F(QFXDOTXLHUDGHODVWUHV$GPLQLVWUDFLRQHV
D&XDQGRFHVHOD$XWRULGDGDODTXHSUHVWDVXIXQFLyQDVHVRUDRGHFRQILDQ]D
D4XLHQHVGHVHPSHxDQIXQFLRQHVUHWULEXLGDVHQODV$GPLQLVWUDFLRQHV3~EOLFDVDO
VHUYLFLRGHORVLQWHUHVHVJHQHUDOHV
E*UXSR'
D7tWXOR8QLYHUVLWDULRGH*UDGRXRWUR7tWXOR8QLYHUVLWDULRTXHVHH[LMDOHJDOPHQWH
E&RQXQFRQWUDWRHVFULWR
E/DVHSDUDFLyQGHOVHUYLFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(/0,1,67(5,2'(/,17(5,25(6758&785$25*1,&$%6,&$
/$6(&5(7$5$'((67$'2'(6(*85,'$'(6758&785$<)81&,21(6
'HSHQGLHQGRGHO6HFUHWDULRGH(VWDGRGH6HJXULGDGVHxDOHHOyUJDQRDOTXH
FRUUHVSRQGHHQWUHRWUDVIXQFLRQHVHOHVWDEOHFLPLHQWRGHFULWHULRVGHFRRUGLQDFLyQ
RSHUDWLYDGHORVVHUYLFLRVDFWXDQWHVHQORVVXSXHVWRVGHFRLQFLGHQFLDRFRQFXUUHQ
FLDHQODVLQYHVWLJDFLRQHV
D$O&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR&(08
E$O&HQWUR1DFLRQDOGH&RRUGLQDFLyQ$QWLWHUURULVWD&1&$
F$O&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR&,&2
4XpUDQJRWLHQHOD2ILFLQDGH&RPXQLFDFLyQGHO0LQLVWHULRGHO,QWHULRU"
D'LUHFFLyQ*HQHUDO
E6XEGLUHFFLyQ*HQHUDO
F6HFUHWDUtD*HQHUDO
&XiOGHORVVLJXLHQWHVyUJDQRVQRGHSHQGHHQODDFWXDOLGDGGHOD6HFUHWDUtD
GH(VWDGORGH6HJXULGDG"
D/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
E/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtD
F/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QXQ0LQLVWHULRHOHQFDUJDGRGHODUHSUHVHQWDFLyQGHO'HSDUWDPHQWRHQORV
VXSXHVWRVHQTXHDVtVHORHQFRPLHQGHHO0LQLVWUR\GHGLULJLUORVVHUYLFLRVFRPX
QHVGHGLFKR'HSDUWDPHQWRHV
D(O6HFUHWDULRGH(VWDGR
E(O6XEVHFUHWDULR
F(O6HFUHWDULR*HQHUDO
*HVWLRQDU\HMHFXWDUORVSURJUDPDV\SUR\HFWRVGHULYDGRVGHODILQDQFLDFLyQ
SURFHGHQWHVGHIRQGRVHXURSHRVDTXLHQFRPSHWH"
D$OD'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\PDWHULDOGHOD6HJXULGDG
E$OD'LUHFFLyQ*HQHUDOGH*HVWLyQGH5HFXUVRV
F$O*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
/DJHVWLyQ\GHVDUUROORGHODSROtWLFDQRUPDWLYDGHO'HSDUWDPHQWRGHO,QWHULRU
ODOOHYD
D/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E/D6XEVHFUHWDUtDGHO,QWHULRU
F1LQJXQDGHODVGRVDQWHULRUHV
/DFRRUGLQDFLyQGHDFWXDFLRQHVGHO0LQLVWHULRGHO,QWHULRUFRQHOGH$VXQWRV
([WHULRUHV\&RRSHUDFLyQHVSRWHVWDWLYRGH
D/D6HFUHWDUtD7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E(O*DELQHWHGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV
(O*DELQHWH7pFQLFRGHOD6XEVHFUHWDUtDGH,QWHULRUTXpQLYHOWLHQH"
D'LUHFFLyQ*HQHUDO
F/D8QLGDGGH&RRUGLQDFLyQ
(O5HJLVWUR\DSOLFDFLyQGHOUpJLPHQMXUtGLFRGHORVSDUWLGRVSROtWLFRVHVFRP
SHWHQFLDGH
E(O*DELQHWHGH&RRUGLQDFLyQ
F/D$ERJDFtDGHO(VWDGR
/D*HUHQFLDGH,QIRUPiWLFDGHSHQGHGH
D'HOD'LUHFFLyQ*HQHUDOGH7UiILFR
E'HOD'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
F'HOD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O6HUYLFLRGH$VLVWHQFLD/HWUDGDGHSHQGHGH
D/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
E/D8QLGDGGH&RRUGLQDFLyQ
F/D6HFUHWDUtD*HQHUDOGHOD6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV+XPDQRV
4XLpQVHHQFDUJDGHODVPLVLRQHVGHFRRSHUDFLyQWpFQLFD\SUHVWDFLyQGH
DX[LOLRDODV3ROLFtDVGHRWURVSDtVHVFRQIRUPHDORHVWDEOHFLGRHQORV7UDWDGRV\
$FXHUGRV,QWHUQDFLRQDOHV"
D(O*DELQHWHGHO0LQLVWUR
E/D2ILFLQD&HQWUDO1DFLRQDOGH,QWHUSRO
F/D8QLGDG1DFLRQDOGH(XURSRO
/D6XEGLUHFFLyQ*HQHUDOGH$VLORVHHQFXDGUD
D(QOD'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtD
E(QOD$ERJDFtDGHO(VWDGR
F(QOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
'HTXLpQGHSHQGHOD6XEGLUHFFLyQ*HQHUDOGH0HGLR$PELHQWH\0HGLGDV
$OWHUQDWLYDV"
D1RHVXQyUJDQRGHO0LQLVWHULRGHO,QWHULRU
E'HOD'LUHFFLyQ*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
F'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
6LQSHUMXLFLRGHVXGHSHQGHQFLDIXQFLRQDOGHO0LQLVWHULRGH(FRQRPtD\+D
FLHQGDGyQGHVHHQFXDGUDOD,QWHUYHQFLyQ'HOHJDGDGHOD,QWHUYHQFLyQ*HQHUDOGH
OD$GPLQLVWUDFLyQGHO(VWDGR"
D(QOD6XEVHFUHWDUtDGHO,QWHULRU
E(QOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F1LQJXQDGHODVGRVUHVSXHVWDVHVFLHUWD
'H TXLpQ GHSHQGH HO &RPLWp SDUD HO 0DQGR 8QLILFDGR GH ODV )XHU]DV \
&XHUSRVGH6HJXULGDGGHO(VWDGR"
D'HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
E'HO6XEVHFUHWDULRGHO,QWHULRU
F'HO0LQLVWURGHO,QWHULRU
4XLpQFRQWURODHO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU"
D'LUHFWDPHQWHHO0LQLVWURGHO,QWHULRU
E(O6HFUHWDULRGH(VWDGRGH6HJXULGDG
F(O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGH6HJXULGDGGHSHQGHGH
D/D6XEVHFUHWDUtDGHO,QWHULRU
E/D6HFUHWDUtD*HQHUDO
F/D6HFUHWDUtDGH(VWDGRGH6HJXULGDG
4XLpQ QR IRUPD SDUWH GHO &RPLWp (MHFXWLYR GHO 0DQGR 8QLILFDGR GH ODV
)XHU]DV\&XHUSRVGH6HJXULGDG&(08"
D/D'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
'HTXLpQGHSHQGHHO&HQWUR1DFLRQDOGH&RRUGLQDFLyQ$QWLWHUURULVWD&1&$"
D'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
E'HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
'HTXLpQGHSHQGHHO6LVWHPD(VWDGtVWLFRGH6HJXULGDG,QWHULRU"
D'HO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
E'LUHFWDPHQWHGHO0LQLVWURGHO,QWHULRU
F'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
(O&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH
6HJXULGDGGHO(VWDGRHVWiSUHVLGLGRSRUHO
D0LQLVWURGHO,QWHULRU
E6HFUHWDULRGH(VWDGRGH6HJXULGDG
F'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
$FW~DFRPR6HFUHWDULRGHO&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV
)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
D(O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
E(O'LUHFWRU*HQHUDO$GMXQWRGHO&XHUSR1DFLRQDOGH3ROLFtD
F(O'LUHFWRUGHO*DELQHWHGH&RRUGLQDFLyQGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
(O*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRUGHSHQGHGLUHFWDPHQWHGH
D/D6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F'HO*DELQHWHGHO0LQLVWUR
(O&HQWUR(VSDxROGHOD$FDGHPLD(XURSHDGH3ROLFtDGHSHQGHGH
D(O*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
E/D6XEGLUHFFLyQ*HQHUDOGH&RRSHUDFLyQ3ROLFLDO,QWHUQDFLRQDO
F/D6XEGLUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV,QPLJUDFLyQ\([WUDQMHUtD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DDSUREDFLyQGHORVSODQHV\SURJUDPDVGHLQIUDHVWUXFWXUDV\PDWHULDOHQ
HOiPELWRGHOD6HJXULGDGFRPSHWHD
D(O*DELQHWHGH&RRUGLQDFLyQ
E/D6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDG
/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDGHVWi
LQWHJUDGDSRU
D /D 6XEGLUHFFLyQ *HQHUDO GH 6LVWHPDV GH ,QIRUPDFLyQ \ &RPXQLFDFLRQHV SDUD OD
6HJXULGDG
E/D6XEGLUHFFLyQ*HQHUDOGH3ODQLILFDFLyQ\*HVWLyQGH,QIUDHVWUXFWXUDV\0HGLRVGH
6HJXULGDG
'LULJLU OD JHVWLyQ GH ORV ELHQHV \ GHUHFKRV TXH VH UHILHUDQ DO SDWULPRQLR
LQPRELOLDULRGHODVHJXULGDG\PDQWHQHUHOLQYHQWDULRGHWRGRVHOORVHVIXQFLyQGH
E/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD\3DWULPRQLDO
F/D6XEVHFUHWDUtDGHO,QWHULRU
(O&HQWUR1DFLRQDOGH,QIRUPDFLyQ\'RFXPHQWDFLyQHQTXp'LUHFFLyQ*H
QHUDOVHLQFDUGLQD"
D(QODGH3ROtWLFD,QWHULRU
E(QODGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
F(QQLQJXQDGHODVGRVDQWHULRUHV
8Q6HFUHWDULR*HQHUDO7pFQLFRGHTXpyUJDQRGHSHQGHGLUHFWDPHQWHFRPR
VXSHULRUVX\R"
D'HO6XEVHFUHWDULR
E'HO6HFUHWDULRGH(VWDGR
F'HO6XEGLUHFWRU
&XiOHVGHORVVLJXLHQWHVyUJDQRVVHXELFDQHQOD6HFUHWDUtDGH(VWDGRGH
6HJXULGDG"
E/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDG
/DRUJDQL]DFLyQ\PDQWHQLPLHQWRGHO&HQWURGH&RRUGLQDFLyQ2SHUDWLYDGH
OD5HGGH$OHUWDDOD5DGLRDFWLYLGDGHVFRPSHWHQFLDGH
D/D'LUHFFLyQ*HQHUDOGH7UiILFR
E/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
F/D'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HQWURGHO0LQLVWHULRGHO,QWHULRUHOUHJLVWUR\ODDSOLFDFLyQGHOUpJLPHQMXUt
GLFRGHORVSDUWLGRVSROtWLFRVHVFRPSHWHQFLDGHOD
D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E6HFUHWDUtD*HQHUDO7pFQLFD
F6XEGLUHFFLyQ*HQHUDOGH3HUVRQDOH,QVSHFFLyQ
/RV6HFUHWDULRVGH(VWDGR
D$SUXHEDQORVSODQHV\SURJUDPDVGHLQIUDHVWUXFWXUDV\PDWHULDOHQHOiPELWRGHOD
VHJXULGDG
E'LULJHQ\FRRUGLQDQODV'LUHFFLRQHV*HQHUDOHVGHO'HSDUWDPHQWR
/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRUVHLQFDUGLQDGLUHFWDPHQWHHQ
F/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
/D3UHVLGHQFLD6HFUHWDULDGR\HODERUDFLyQGHGRFXPHQWDFLyQGHOD&RPL
VLyQ,QWHUPLQLVWHULDO3HUPDQHQWHGH$UPDV\([SORVLYRVFRUUHVSRQGHD
D/D6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
F$OD6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV
'HTXpyUJDQRGHSHQGHGLUHFWDPHQWHOD'LUHFFLyQ*HQHUDOGH3URWHFFLyQ
&LYLO\(PHUJHQFLDV"
D'HOD6XEVHFUHWDUtDGHO,QWHULRU
E'HOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F'HOD6HFUHWDUtD*HQHUDO7pFQLFD
/DWUDPLWDFLyQ\SURSXHVWDGHUHVROXFLyQGHODVSHWLFLRQHVGHLQGHPQL]D
FLyQHVFRPSHWHQFLDGHOD
D'LUHFFLyQ*HQHUDOGH7UiILFR
E6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
F'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
(OHMHUFLFLRGHODVFRPSHWHQFLDVTXHWLHQHDWULEXLGDVHO0LQLVWHULRGHO,Q
WHULRUVREUHORVSURFHVRVHOHFWRUDOHV\FRQVXOWDVGLUHFWDVDOHOHFWRUDGROHFRUUHV
SRQGHD
F/D9LFHVHFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHO0LQLVWHULRGHO,QWHULRUODJHVWLyQ\GHVDUUROORGHODSROtWLFDQRUPDWLYD
GHO'HSDUWDPHQWRHVPLVLyQ
D'HOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E'HO*DELQHWH7pFQLFR
F'HOD6XEVHFUHWDUtDGHO,QWHULRU
'HHQWUHORVVLJXLHQWHVFXiOHVXQyUJDQRTXHGHSHQGHGHO0LQLVWHULRGHO
,QWHULRU\TXHSRUVXUDQJRHVXQyUJDQRVXSHULRU"
D/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtD
E(O*DELQHWHGHO0LQLVWUR
F1LQJXQRGHORVGRVDQWHULRUHV
&XiOGHORVVLJXLHQWHVyUJDQRVIRUPDSDUWHGHODHVWUXFWXUDGHOD'LUHFFLyQ
*HQHUDOGH3ROtWLFD,QWHULRU"
D/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDG
E/D6XEGLUHFFLyQ*HQHUDOGH$VLOR
F/D'LYLVLyQGH)RUPDFLyQ\5HODFLRQHV,QVWLWXFLRQDOHV
/D2ILFLQD3UHVXSXHVWDULDGHSHQGHGLUHFWDPHQWHGHO
D'LUHFWRU*HQHUDOGH3ROtWLFD,QWHULRU
E6XEVHFUHWDULRGHO,QWHULRU
F6HFUHWDULRGH(VWDGRGH6HJXULGDG
$TXLpQFRUUHVSRQGHGHVDUUROODUHO6LVWHPD(VWDGtVWLFRGH6HJXULGDG,Q
WHULRU"
E/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
F(O*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
(O&HQWUR1DFLRQDOGH,QIRUPDFLyQ\'RFXPHQWDFLyQLQWHJUDGRHQOD'LYL
VLyQGH)RUPDFLyQ\5HODFLRQHV,QVWLWXFLRQDOHVGHSHQGHGH
E/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
F/D'LUHFFLyQ*HQHUDOGH7UiILFR
/D 6XEGLUHFFLyQ *HQHUDO GH 6LVWHPDV GH ,QIRUPDFLyQ \ &RPXQLFDFLRQHV
SDUDOD6HJXULGDGHVXQyUJDQRSHUWHQHFLHQWHD
D/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F$O*DELQHWHGHOD6HFUHWDUtDGH(VWDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OHMHUFLFLRGHODVFRPSHWHQFLDVDWULEXLGDVDO0LQLVWHULRGHO,QWHULRUHQUHOD
FLyQFRQORVHVSHFWiFXORVWDXULQRVFRUUHVSRQGHD
D/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
E/D6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
F/D2ILFLDOtD0D\RU
$ TXLpQ FRUUHVSRQGH HQ H[FOXVLYD OD SODQLILFDFLyQ \ FRRUGLQDFLyQ GH ODV
SROtWLFDVGHLQIUDHVWUXFWXUDV\PDWHULDOHQHOiPELWRGHODVHJXULGDGDVtFRPRHO
FRQWUROGHVXFXPSOLPLHQWR"
D$O6HFUHWDULRGH(VWDGRGH6HJXULGDG
E$O0LQLVWURGHO,QWHULRU
F$O'LUHFWRU*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
/DDFWXDOHVWUXFWXUDRUJiQLFDEiVLFDGHO0LQLVWHULRGHO,QWHULRUVHPRGLILFy
\GHVDUUROOyDWUDYpVGH
D/D/H\2UJiQLFDGHGHPDU]R
E(O5HDO'HFUHWRGHGHMXOLR
F2UGHQ0LQLVWHULDOGHGHVHSWLHPEUHGH
$O0LQLVWHULRGHO,QWHULRUOHFRUUHVSRQGH
D(OFRQWUROGHODVHPSUHVDV\HOSHUVRQDOGHVHJXULGDGSULYDGDDVtFRPRODDGPLQLV
WUDFLyQ\UpJLPHQGH,QVWLWXFLRQHV3HQLWHQFLDULDV
E(OHMHUFLFLRGHODVFRPSHWHQFLDVOHJDOPHQWHDWULEXLGDVVREUH3URWHFFLyQ&LYLO\(PHU
JHQFLDV
F7RGRORDQWHULRUOHFRUUHVSRQGH
/D IRUPXODFLyQ GH OD SROtWLFD GHO *RELHUQR HQ UHODFLyQ FRQ HO GHUHFKR GH
DVLOROHFRUUHVSRQGH
D$O0LQLVWURGHO,QWHULRU
E$O6HFUHWDULRGH(VWDGRGH6HJXULGDG
F$O9LFHSUHVLGHQWHGHO*RELHUQR
/D2ILFLQDGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHVGHSHQGHGLUHFWDPHQWHGHO
(OSRUWDYR]GHO0LQLVWHULRGHO,QWHULRUHVHOWLWXODUGHOD
D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
E6XEGLUHFFLyQ*HQHUDOGH5HODFLRQHV3~EOLFDV
F-HIDWXUDGHO*DELQHWHGHO0LQLVWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'H HQWUH ORV VLJXLHQWHV VHxDOH GyQGH VH DGVFULEH HO &HQWUR (XURSHR GH
,QYHVWLJDFLyQ6RFLDOGH6LWXDFLRQHVGH(PHUJHQFLD
D(QOD6XEGLUHFFLyQ*HQHUDOGH3ODQHV\2SHUDFLRQHV
E(QOD'LYLVLyQGH)RUPDFLyQ\5HODFLRQHV,QVWLWXFLRQDOHVGHOD'LUHFFLyQ*HQHUDOGH
3URWHFFLyQ&LYLO\(PHUJHQFLDV
F(QHO&HQWUR1DFLRQDOGH,QIRUPDFLyQ\'RFXPHQWDFLyQ
'HHQWUHODVVLJXLHQWHVDILUPDFLRQHVVHxDOHODTXHQRVHDFLHUWD
D/D'LUHFFLyQ*HQHUDOGH7UiILFRGHSHQGHGHOD6XEVHFUHWDUtDGHO,QWHULRU
E/D'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDVGHSHQGHGHOD6XEVHFUHWDUtD
GHO,QWHULRU
F/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDVGHSHQGHGHOD6XEVHFUHWDUtD
GHO,QWHULRU
6HxDOHGHHQWUHORVVLJXLHQWHVHORUJDQLVPRXRUJDQLVPRVTXHSHUWHQHFH
RSHUWHQHFHQDODRUJDQL]DFLyQJHQHUDOGHO0LQLVWHULRGHO,QWHULRU
D(O&RQVHMR$VHVRUGH1XHYDV7HFQRORJtDV\HO*DELQHWH7pFQLFRGHOD6XEVHFUHWDUtD
GHO,QWHULRU
E/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
F7RGRVORVRUJDQLVPRVDQWHULRUHVSHUWHQHFHQDGLFKDRUJDQL]DFLyQ
/DJHVWLyQGHORVDVXQWRVTXHVHGHULYHQGHODVUHODFLRQHVGHO0LQLVWHULRGHO
,QWHULRUFRQORV6XEGHOHJDGRVGHO*RELHUQRFRUUHVSRQGHD
/D 6XEGLUHFFLyQ *HQHUDO GH 6LVWHPDV GH ,QIRUPDFLyQ \ &RPXQLFDFLRQHV
SDUDOD6HJXULGDGVHLQWHJUDHQ
E/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ\5HFXUVRV+XPDQRV
F/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
/D&RQVWLWXFLyQSRQHGHPDQLILHVWRTXHODVHJXULGDGS~EOLFDHVFRPSHWHQ
FLDH[FOXVLYD
D'HO0LQLVWURGHO,QWHULRU
E'HO(VWDGR
F'HO*RELHUQR
(QODDFWXDOLGDGHOPRGHORSROLFLDOGHQXHVWURSDtVVHFRQILJXUDDSDUWLUGH
E/D&RQVWLWXFLyQ
F/D/H\2UJiQLFDGHGHPDU]R
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DUHVSRQVDELOLGDGGHODVUHODFLRQHVGHFRODERUDFLyQ\DX[LOLRFRQODV$XWR
ULGDGHVSROLFLDOHVGHRWURVSDtVHVFRQIRUPHDORHVWDEOHFLGRHQ7UDWDGRV\$FXHU
GRV,QWHUQDFLRQDOHVFRUUHVSRQGH
D$O3UHVLGHQWHGHO*RELHUQR
F$O0LQLVWURGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
4XpUDQJRWLHQHHO*DELQHWHGH&RRUGLQDFLyQGHSHQGLHQWHGHOD6HFUHWDUtD
GH(VWDGRGH6HJXULGDG"
D6XEGLUHFFLyQ*HQHUDO
E'LUHFFLyQ*HQHUDO
F6HFUHWDUtD*HQHUDO7pFQLFD
/D 'LUHFFLyQ *HQHUDO GH 3URWHFFLyQ &LYLO \ (PHUJHQFLDV GHSHQGH GLUHFWD
PHQWH
D'HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
E'HO0LQLVWURGHO,QWHULRU
F'HO6XEVHFUHWDULRGHO,QWHULRU
/D3UHVLGHQFLDGHOD&RPLVLyQ,QWHUPLQLVWHULDO3HUPDQHQWHGH$UPDV\([
SORVLYRVFRPSHWH
D$OD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E$OD'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD*XDUGLD&LYLO
F$OD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
(QHO0LQLVWHULRGHO,QWHULRUODDVLVWHQFLDDODVYtFWLPDVGHOWHUURULVPRDVt
FRPR ODV UHODFLRQHV FRQ ODV DVRFLDFLRQHV \ IDPLOLDUHV GH WDO FDUiFWHU VH OOHYD D
FDERDWUDYpVGH
E/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD*XDUGLD&LYLO
F/D'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUURULVPR
/D6XEGLUHFFLyQ*HQHUDOGH(VWXGLRV\5HODFLRQHV,QVWLWXFLRQDOHVGHSHQGHGH
E/D6XEGLUHFFLyQ*HQHUDOGHO*DELQHWH7pFQLFR
F/D6XEVHFUHWDUtDGHO,QWHULRUDWUDYpVGHVX6HFUHWDUtD*HQHUDO7pFQLFD
'yQGHVHXELFDOD2ILFLDOtD0D\RUGHO0LQLVWHULRGHO,QWHULRU"
E(QOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
F(QOD'LUHFFLyQ*HQHUDOGH7UiILFR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DJHVWLyQ\HOFRQWUROGHOWUiILFRXUEDQRHLQWHUXUEDQRUHVSHFWLYDPHQWH
FRPSHWHQ
D$ODV3ROLFtDV/RFDOHV\DOD*XDUGLD&LYLOGH7UiILFR
E$ODV3ROLFtDV$XWyQRPDV\DODV/RFDOHV
F$ODV&RUSRUDFLRQHV/RFDOHV\DOD'LUHFFLyQ*HQHUDOGH7UiILFR
(OPDQGRVXSHULRUGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGRFRUUHV
SRQGH
D$O'LUHFWRU*HQHUDOGHOD3ROLFtD\DOGHOD*XDUGLD&LYLOFRQMXQWDPHQWH
F$O0LQLVWURGHO,QWHULRU
4XpyUJDQRVGHORVVLJXLHQWHVGHSHQGHQGHOD6XEVHFUHWDUtDGHO,QWHULRU"
D/D'LUHFFLyQ*HQHUDOGH7UiILFR\OD'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDO
GHOD6HJXULGDG
E/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU\OD'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\
(PHUJHQFLDV
(ORUJDQLVPRTXHVHHQFDUJDGHODV5HODFLRQHV,QIRUPDWLYDV\6RFLDOHVGHO
0LQLVWHULRGHO,QWHULRUWLHQHUDQJRGH
D'LUHFFLyQ*HQHUDO
(QHO0LQLVWHULRGHO,QWHULRUODVUHODFLRQHVLQWHUQDFLRQDOHVHLQVWLWXFLRQDOHV
ODVRUJDQL]D
D/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
F/D6HFUHWDUtD*HQHUDO7pFQLFD
,QGtTXHVHFXiOGHODVVLJXLHQWHVSURSRVLFLRQHVHVIDOVD
D/D'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUURULVPRGHSHQGHGLUHFWDPHQWHGH
OD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
E(O2EVHUYDWRULR1DFLRQDOGH6HJXULGDGWLHQHUDQJRGH6XEGLUHFFLyQ*HQHUDO
F/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOGHSHQGHGHOD6HFUHWDUtDGH
(VWDGRGH6HJXULGDG
4XpyUJDQRVHHQFDUJDGHODVXSHUYLVLyQGHORVVHUYLFLRVGHSURWRFRORHQ
HO0LQLVWHULRGHO,QWHULRU"
D/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
F(O*DELQHWHGHO0LQLVWUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtDGHSHQGHGH
E/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
/D6XEGLUHFFLyQ*HQHUDOGH7UDWDPLHQWR\*HVWLyQ3HQLWHQFLDULDGHSHQGHGH
D/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRV
E/D'LUHFFLyQ*HQHUDOGH&RRUGLQDFLyQ7HUULWRULDO\0HGLR$ELHUWR
F(O6XEGLUHFWRU*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV,QPLJUDFLyQ\([WUDQMHUtD
'HVDUUROODU \ SURPRYHU OD FHOHEUDFLyQ GH DFFLRQHV IRUPDWLYDV GLULJLGDV D
DOWRVUHVSRQVDEOHVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGHVFRPSHWHQFLDGH
4XLpQ HMHUFH OD JDUDQWtD GHO IXQFLRQDPLHQWR GHO UHJLVWUR GH ORV SDUWLGRV
SROtWLFRV"
E/D'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDGGHSHQ
GHGLUHFWDPHQWHGH
F/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
4XpUDQJRWLHQHHO*DELQHWHGHO6HFUHWDULRGH(VWDGRGH6HJXULGDG"
D6XEVHFUHWDUtD
F6HFUHWDUtD*HQHUDO
6HxDOHGHHQWUHORVVLJXLHQWHVyUJDQRVHOTXHQRGHSHQGDGHOD6XEVHFUH
WDUtDGHO,QWHULRU
D3ROtWLFD,QWHULRU
E,QVWLWXFLRQHV3HQLWHQFLDULDV
F3URWHFFLyQ&LYLO\(PHUJHQFLDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OWLWXODUGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLORVWHQWD
HOUDQJRGH
D6HFUHWDULRGH(VWDGR
E'LUHFWRU*HQHUDO
F6XEVHFUHWDULR
'HHQWUHORVVLJXLHQWHVyUJDQRVVHxDOHHOTXHWHQJDUDQJRGH6XEVHFUHWDUtD
D/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD*XDUGLD&LYLO
E/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
F1LQJXQDGHODVDQWHULRUHV
&XiO GH ORV VLJXLHQWHV yUJDQRV GHSHQGH GH OD 6HFUHWDUtD GH (VWDGR GH
6HJXULGDG"
D/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
E/D'LUHFFLyQ*HQHUDOGH7UiILFR
/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtDGHSHQGH
F'HOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
(QWUHODVVLJXLHQWHVIXQFLRQHVFRUUHVSRQGHDOD6HFUHWDUtDGH(VWDGRGH
6HJXULGDG
D/DGLUHFFLyQ\FRRUGLQDFLyQGHODFRRSHUDFLyQLQWHUQDFLRQDODVtFRPRHOFRQWUROGH
ODVHPSUHVDV\GHOSHUVRQDOGHVHJXULGDGSULYDGD
E/DDSUREDFLyQGHORVSODQHV\SURJUDPDVGHLQIUDHVWUXFWXUDV\PDWHULDOHQHOiPELWR
GHODVHJXULGDG
F7RGRHOFRQWHQLGRGHODVGRVUHVSXHVWDVDQWHULRUHV
6HxDOHWDPELpQGHHQWUHODVVLJXLHQWHVODVIXQFLyQHVTXHFRUUHVSRQGHQD
ODDQWHULRUPHQWHPHQFLRQDGD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
D/DVHJXULGDGS~EOLFDGHORVHVSHFWiFXORV\DFWLYLGDGHVUHFUHDWLYDVHQHOiPELWRGH
FRPSHWHQFLDVGHO(VWDGR
E*HVWLRQDU\DGPLQLVWUDUHO)RQGRSURFHGHQWHGHOGHFRPLVRGHGURJDV
F,QVSHFFLRQDUODVFRPSHWHQFLDVGLVSXHVWDVVREUH3URWHFFLyQ&LYLO\(PHUJHQFLDV
/DVDFWXDFLRQHVRFDPSDxDVLQIRUPDWLYDVTXHVHSUHWHQGDQUHDOL]DUHQHO
iPELWRGHO0LQLVWHULRGHO,QWHULRUFRUUHVSRQGHGLULJLUODVDOWLWXODUGH
D(O*DELQHWH7pFQLFRGHO0LQLVWUR
F/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQHODERUDORVLQIRUPHVVREUHVHJXULGDGFLXGDGDQDSDUDOD6HFUHWDUtD
GH(VWDGRGH6HJXULGDG"
F/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDG
/D'LUHFFLyQ*HQHUDOGH7UiILFRGHSHQGHGH
E/D'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD*XDUGLD&LYLO
4XpUDQJRWLHQHRWRUJDGRHO'LUHFWRU*HQHUDOGH,QVWLWXFLRQHV3HQLWHQ
FLDULDV"
D6HFUHWDULRGH(VWDGR
E'LUHFWRU*HQHUDO
F6XEVHFUHWDULR
'yQGHVHXELFDHO5HJLVWUR1DFLRQDOGH$VRFLDFLRQHV"
D(QOD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E(QOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRUGHOD6XEVHFUHWDUtDGHO,QWHULRU
F(QOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
4Xp'HSHQGHQFLDGHQWURGHOD6XEVHFUHWDUtDGHO0LQLVWHULRGHO,QWHULRU
OOHYDORVDVXQWRVUHODFLRQDGRVFRQOD&RPLVLyQ1DFLRQDOGHO-XHJR"
E/D6HFUHWDUtD*HQHUDO7pFQLFD
F/D2ILFLDOtD0D\RU
(QHO0LQLVWHULRGHO,QWHULRUOD$ERJDFtDGHO(VWDGRVHLQFDUGLQDHQ
D/D6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV
F/D9LFHVHFUHWDUtD*HQHUDO7pFQLFD
'HTXLpQGHSHQGHOD6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV"
D'HOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E'HOD'LUHFFLyQ*HQHUDOGH7UiILFR
6HxDOHHQWUHORVVLJXLHQWHVHOyUJDQRTXHGHSHQGDGLUHFWDPHQWHGHO6XE
VHFUHWDULRGHO,QWHULRU
D/D6XEGLUHFFLyQ*HQHUDOGH3HUVRQDOH,QVSHFFLyQ
E/D2ILFLQD3UHVXSXHVWDULD\OD$ERJDFtDGHO(VWDGR
F7RGRVORVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DDGPLQLVWUDFLyQJHQHUDOGHODSROLFtDGHFLUFXODFLyQ\GHODVHJXULGDGYLDO
FRUUHVSRQGH
D$ODV-HIDWXUDV3URYLQFLDOHVGH7UiILFR
F$OD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
4XLpQGLULJHODUHSUHVHQWDFLyQGHOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRHQ
HO&RQVHMR6XSHULRUGH3ROtWLFDGH,QPLJUDFLyQ"
D(O0LQLVWURGHO,QWHULRU
E(O'LUHFWRU*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtD
F(VHRUJDQLVPRKDGHVDSDUHFLGRGHO0LQLVWHULRGHO,QWHULRU
(QHO0LQLVWHULRGHO,QWHULRUGHTXLpQHVPLVLyQHVSHFtILFDHOGLULJLUFRRUGL
QDU\SURPRYHUHOGLiORJRFRQHO)RURSDUDOD,QWHJUDFLyQ6RFLDOGHORV,QPLJUDQWHV"
D'HORVVHUYLFLRVVRFLDOHVGHFDGD&RPXQLGDG$XWyQRPD
E'HOD6XEGLUHFFLyQ*HQHUDOGH$VLOR
(QFXiOGHORVVLJXLHQWHVyUJDQRVVHHQFXHQWUDLQWHJUDGDOD,QVSHFFLyQ
GH3HUVRQDO\6HUYLFLRVGH6HJXULGDG"
D(QOD'LUHFFLyQ*HQHUDOGH$GPLQLVWUDFLyQGHOD6HJXULGDG
F(QOD6XEVHFUHWDUtDGHO,QWHULRU
$OD6HFUHWDUtDGH(VWDGRGH6HJXULGDGOHFRPSHWHODSURPRFLyQGHODV
FRQGLFLRQHV SDUD HO HMHUFLFLR GH ORV GHUHFKRV IXQGDPHQWDOHV GH DFXHUGR FRQ OD
&RQVWLWXFLyQ\ODVOH\HV\HVSHFLDOPHQWHORVUHODFLRQDGRVFRQ
D/DOLEHUWDGODVHJXULGDGSHUVRQDO\ODLQYLRODELOLGDGGHOGRPLFLOLR
E/DOLEHUWDGGHUHVLGHQFLD\FLUFXODFLyQ
F7RGRVORVDQWHULRUHV
6HxDOHGHHQWUHORVVLJXLHQWHVyUJDQRVGHOD6XEVHFUHWDUtDGHO,QWHULRUHO
TXHWLHQHQLYHOGH6XEGLUHFFLyQ*HQHUDO
D/D2ILFLQD3UHVXSXHVWDULD\OD2ILFLDOtD0D\RU
E(O&HQWURGH6LVWHPDVGH,QIRUPDFLyQ
F7RGRVORVDQWHULRUHV
(QOD6HFUHWDUtDGH(VWDGRGH6HJXULGDGODHYDOXDFLyQGHOGHVDUUROORGH
ORVVHUYLFLRVFHQWURV\XQLGDGHVFHQWUDOHV\SHULIpULFRVGHOD'LUHFFLyQ*HQHUDOGH
OD3ROLFtD\GHOD*XDUGLD&LYLOVHOOHYDDFDERSRU
F/D9LFHVHFUHWDUtD*HQHUDO7pFQLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDVWLHQHUDQJRGH
D6XEVHFUHWDUtD
E'LUHFFLyQ*HQHUDO
F6XEGLUHFFLyQ*HQHUDO
&RQFUHWDPHQWHHQHO0LQLVWHULRGHO,QWHULRUOD$ERJDFtDGHO(VWDGRGHSHQGH
E'HO*DELQHWHGHO0LQLVWURGHO,QWHULRU
F'HOD'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
/DUHDOL]DFLyQGHODVDFWXDFLRQHVQHFHVDULDVSDUDHOGHVDUUROORGHORVSUR
FHVRVHOHFWRUDOHVFRPSHWH
F$O6XEVHFUHWDULRGHO,QWHULRU
(ORUJDQLVPR7UDEDMR\3UHVWDFLRQHV3HQLWHQFLDULDVHVSUHVLGLGRSRU
E(O6XEVHFUHWDULRGHO,QWHULRU
F(O6HFUHWDULR*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
/D 'LUHFFLyQ \ FRRUGLQDFLyQ GH OD FRRSHUDFLyQ SROLFLDO LQWHUQDFLRQDO FR
UUHVSRQGH
D$O'LUHFWRU*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
'HTXLpQGHSHQGHHO&HQWUR(VSDxROGHOD$FDGHPLD(XURSHDGH3ROLFtD"
D'HO*DELQHWHGH&RRUGLQDFLyQ
E'HO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
F'HOD6XEGLUHFFLyQ*HQHUDOGH&RRSHUDFLyQ,QWHUQDFLRQDO
/DHODERUDFLyQGHODQWHSUR\HFWRGH3UHVXSXHVWRGHOD6HFUHWDUtDGH(VWD
GRGH6HJXULGDGFRUUHVSRQGH
D$O*DELQHWHGHO0LQLVWURGHO,QWHULRU
F$O6XEVHFUHWDULRGHO,QWHULRU
&XiQWDV'LUHFFLRQHV*HQHUDOHVLQWHJUDQOD6HFUHWDUtDGH(VWDGRGH6H
JXULGDG"
D'RV
E7UHV
F&XDWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpQLYHORUJiQLFRWLHQHHO&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJD
QL]DGR"
E'LUHFFLyQ*HQHUDO
&RPR yUJDQR GH DVLVWHQFLD LQPHGLDWD DO 0LQLVWUR GHO ,QWHULRU H[LVWH XQ
*DELQHWHFRQQLYHORUJiQLFR
D'H'LUHFFLyQ*HQHUDO
E'H6XEVHFUHWDUtD
F'H6XEGLUHFFLyQ*HQHUDO
4XLpQDVXPHODGLUHFFLyQGHODVFRPSHWHQFLDVGHO0LQLVWHULRGHO,QWHULRU
HQPDWHULDGH$GPLQLVWUDFLyQ3HQLWHQFLDULD"
D/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
6HxDOHHOTXHVHDyUJDQRVXSHULRUGHO0LQLVWHULRGHO,QWHULRU
F1LQJXQRGHORVWUHVDQWHULRUHV
'H HQWUH ODV VLJXLHQWHV GHSHQGH GH OD 6XEVHFUHWDUtD GHO 0LQLVWHULR GHO
,QWHULRU
D/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU\OD'LUHFFLyQ*HQHUDOGH7UiILFR
E/D'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO
F7RGDVODVDQWHULRUHV
/DJHVWLyQGHODVVXEYHQFLRQHV\ILQDQFLDFLyQGHORVSDUWLGRVSROtWLFRVHVWi
DFDUJRGH
D/D6XEGLUHFFLyQGH*HVWLyQ(FRQyPLFD\3DWULPRQLDO
F(O0LQLVWHULRGH(FRQRPtD\+DFLHQGD
)RUPDSDUWHGHOD'LYLVLyQGH)RUPDFLyQ\5HODFLRQHV,QVWLWXFLRQDOHVTXH
GHSHQGHGHOD'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
D/D(VFXHOD1DFLRQDOGH3URWHFFLyQ\HO&HQWUR1DFLRQDOGH,QIRUPDFLyQ\'RFXPHQ
WDFLyQ
E(O&HQWUR(XURSHRGH,QYHVWLJDFLyQ6RFLDOGH6LWXDFLRQHVGH(PHUJHQFLD
F7RGRVORVDQWHULRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HTXLpQGHSHQGHOD'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6R
FLDOHV"
D'HO6XEVHFUHWDULRGHO,QWHULRU
E'HO6HFUHWDULRGH(VWDGRGH6HJXULGDG
F'LUHFWDPHQWHGHO0LQLVWURGHO,QWHULRU
&XiOHVHQWUHORVVLJXLHQWHVHOyUJDQRGHDVLVWHQFLDLQPHGLDWDDO0LQLV
WURGHO,QWHULRU"
D(O6HFUHWDULRGH(VWDGRGH6HJXULGDG
E(OWLWXODUGHOD'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
(O&HQWUR1DFLRQDOGH&RRUGLQDFLyQ$QWLWHUURULVWDGHSHQGHGLUHFWDPHQWHGHO
(QHO0LQLVWHULRGHO,QWHULRUODVUHODFLRQHVFRQHO'HIHQVRUGHO3XHEORHV
PLVLyQGH
E(O*DELQHWH7pFQLFR
F/D6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
(QHO0LQLVWHULRGHO,QWHULRUFXiOGHORVVLJXLHQWHVyUJDQRVSHUWHQHFHDOD
6XEVHFUHWDUtDGHO,QWHULRUFRQQLYHORUJiQLFRGH6XEGLUHFFLyQ*HQHUDO"
D(O&HQWURGH6LVWHPDVGH,QIRUPDFLyQ\OD6XEGLUHFFLyQGH*HVWLyQ(FRQyPLFD\
3DWULPRQLDO
E/D,QWHUYHQFLyQ'HOHJDGDGHOD,QWHUYHQFLyQ*HQHUDOGHO(VWDGR
F7RGRVORVDQWHULRUHV
4XpyUJDQRGHHQWUHORVVLJXLHQWHVQRSHUWHQHFHDOD6XEVHFUHWDUtDGHO
,QWHULRU"
E/D2ILFLQD3UHVXSXHVWDULD
F/D6XEGLUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
/D6XEGLUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtDHVWi
DGVFULWD
D$OD6XEVHFUHWDUtDGHO,QWHULRU
E$OD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F$O0LQLVWHULRGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D6XEGLUHFFLyQ*HQHUDOGH$VLORGHSHQGHGLUHFWDPHQWHGH
D/D6XEGLUHFFLyQGH*HVWLyQ(FRQyPLFD\3DWULPRQLDO
E/D$ERJDFtDGHO(VWDGR
F/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
/DWUDPLWDFLyQ\SURSXHVWDGHUHVROXFLyQGHODVSHWLFLRQHVGHLQGHPQL]D
FLyQFRUUHVSRQGHD
(O&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR&,&2HVWiDGVFULWR
DO0LQLVWHULR
D'H-XVWLFLD
E'HO,QWHULRU
F'H$VXQWRV([WHULRUHV\&RRSHUDFLyQ
4XpyUJDQRXQLGRGLUHFWDPHQWHDOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
WLHQHQLYHOGH6XEGLUHFFLyQ*HQHUDO"
D/D-HIDWXUDFRQWUDHOEODQTXHRGHFDSLWDOHV
F/D6HFUHWDUtD*HQHUDO
'yQGH VH LQFDUGLQD FRQFUHWDPHQWH HO &HQWUR GH ,QWHOLJHQFLD FRQWUD HO
&ULPHQ2UJDQL]DGR&,&2"
D(QOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
E(QOD6XEVHFUHWDUtDGHO,QWHULRU
F(QOD'LUHFFLyQ$GMXQWD2SHUDWLYD
'HORVVLJXLHQWHVyUJDQRVVXSHULRUHV\FHQWURVGLUHFWLYRVGHO0LQLVWHULRGHO
,QWHULRUFXiOGHHOORVQRH[LVWH"
D/D'LUHFFLyQ*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
F/D'HOHJDFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
/RV 'HOHJDGRV GHO *RELHUQR HQ ODV &RPXQLGDGHV $XWyQRPDV D GyQGH
HVWiQDGVFULWRVRUJiQLFDPHQWH"
E$O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD
F$O*RELHUQRGHOD1DFLyQGLUHFWDPHQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D6XEGLUHFFLyQ*HQHUDOGH$VLORVHHQFXDGUDHQOD'LUHFFLyQ*HQHUDO
D'H3ROtWLFD,QWHULRU
E'HOD3ROLFtD\GHOD*XDUGLD&LYLO
F'H5HODFLRQHV,QWHUQDFLRQDOHV\([WUDQMHUtD
/RV&RQVHMRV6XSHULRU\$VHVRUGH/XFKDFRQWUDHO7UiILFRGH'URJDV\HO
%ODQTXHRGH&DSLWDOHVDGVFULWRVDO0LQLVWHULRGHO,QWHULRUORHVWiQDWUDYpVGH
F/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
/DLQLFLDWLYDSODQLILFDFLyQGLUHFFLyQHLQVSHFFLyQGHWRGRVORVVHUYLFLRV
GHO0LQLVWHULRGHOLQWHULRUOHFRUUHVSRQGHDO
E'LUHFWRUGHO*DELQHWHGHO0LQLVWUR
/DFUHDFLyQ\JHVWLyQGHXQDEDVHGHGDWRVSROLFLDOHVFRP~Q\GHDFFHVR
FRPSDUWLGRSDUDODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGRVHUiREMHWLYRSULR
ULWDULR
D'HO&RPLWp(MHFXWLYRGHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR
E'HO*DELQHWHGH&RRUGLQDFLyQ
F'HO*DELQHWHGH6HJXULGDG,QWHULRU
/DVIXQFLRQHVGHHVWXGLRFRRUGLQDFLyQDVHVRUDPLHQWRHLQIRUPHHQPD
WHULDGHVHJXULGDGFLXGDGDQDVHOOHYDQDFDERSRU
D(O*DELQHWHGH&RRUGLQDFLyQGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
E(O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F(O,QVWLWXWRGH(VWXGLRVGHOD3ROLFtD
$TXLpQFRUUHVSRQGHQODVIXQFLRQHVGHLQVSHFFLyQFRPSUREDFLyQ\HYD
OXDFLyQGHOGHVDUUROORGHORVVHUYLFLRVFHQWURV\XQLGDGHVFHQWUDOHV\SHULIpULFDVGH
OD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO"
D$ORV'LUHFWRUHV*HQHUDOHV$GMXQWRVGHOD3ROLFtD\GHOD*XDUGLD&LYLOFRQMXQWDPHQWH
E'LUHFWDPHQWHDO*DELQHWHGHO0LQLVWURGHO,QWHULRU
F$OD,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDGGHOD6HFUHWDUtDGH(VWDGRGH
6HJXULGDG
/D2ILFLDOtD0D\RUVHLQWHJUDHQ
F1LQJXQDUHVSXHVWDHVFRUUHFWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HOD6HFUHWDUtDGH(VWDGRGH6HJXULGDGGHSHQGH
E/D,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDG
/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOWLHQHUDQJRGH
D6HFUHWDUtDGH(VWDGR
F'LUHFFLyQ*HQHUDO
G6XEVHFUHWDUtD
/D 2ILFLQD GH &RPXQLFDFLyQ GHO 0LQLVWHULR GHO ,QWHULRU GHSHQGH GLUHFWD
PHQWHGHO
F6XEVHFUHWDULRGHO,QWHULRU
/DLQVSHFFLyQFRPSUREDFLyQ\HYDOXDFLyQGHOGHVDUUROORGHORV6HUYLFLRV
&HQWURV\8QLGDGHVGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOHVXQD
IXQFLyQTXHWLHQHDWULEXLGD
/D'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUURULVPRHVWiGLUHFWDPHQ
WHDGVFULWD
F$OD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
/D2ILFLQDGH&RPXQLFDFLyQGHO0LQLVWHULRGHO,QWHULRUTXpUDQJRWLHQH"
D'LUHFFLyQ*HQHUDO
(OWLWXODUGHO*DELQHWHGHOD6HFUHWDUtDGH(VWDGRWLHQHUDQJRGH
D6HFUHWDULR*HQHUDO
E'LUHFWRU*HQHUDO
F6XEGLUHFWRU*HQHUDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D~OWLPDUHIRUPDGHODHVWUXFWXUDRUJiQLFDEiVLFDGHO0LQLVWHULRGHO,QWH
ULRUVHKDOOHYDGRDFDER
D3RU5HDO'HFUHWRGHGHMXOLR
E3RU5HDO'HFUHWRGHGHMXQLR
F3RU5HDO'HFUHWRGHGHDEULO
(OHMHUFLFLRGHODVFRPSHWHQFLDVGHO0LQLVWURGHO,QWHULRUUHVSHFWRGHORV
HVSHFWiFXORVWDXULQRV\MXHJRVGHD]DUODVOOHYDDFDER
&RUUHVSRQGH PDQWHQHU ODV UHODFLRQHV QHFHVDULDV FRQ OD $GPLQLVWUDFLyQ
(OHFWRUDO\HQSDUWLFXODUFRQOD-XQWD(OHFWRUDO&HQWUDOD
E/D6HFUHWDUtD*HQHUDO7pFQLFDGHO0LQLVWHULRGHO,QWHULRU
4XLpQVHHQFDUJDGHODVXSHUYLVLyQGHORVVHUYLFLRVGHSURWRFROR\GHOD
SURJUDPDFLyQGHODVUHODFLRQHVLQVWLWXFLRQDOHVFXDQGRKD\DGHLQWHUYHQLUGLUHFWD
PHQWHHO0LQLVWURGHO,QWHULRU"
DO-HIHGHO*DELQHWHGHO0LQLVWUR
F(O6XEVHFUHWDULRGHO,QWHULRU
(QWUHODVPLVLRQHVGHO&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR
ILJXUDQHQWUHRWUDV
D(ODERUDUXQLQIRUPHDQXDOVREUHODFULPLQDOLGDGRUJDQL]DGD\XQDHYDOXDFLyQSHULy
GLFDGHDPHQD]D
E(ODERUDULQIRUPDFLyQSHULyGLFDVREUHVHJXULGDGFLXGDGDQD
F(ODERUDULQIRUPDFLyQSHULyGLFDVREUHDFWXDFLRQHVGHJUXSRVWHUURULVWDV
$GHPiV GH VX GHSHQGHQFLD GH ORV yUJDQRV MXGLFLDOHV FRUUHVSRQGLHQWHV
GyQGHVHLQFDUGLQDOD$ERJDFtDGHO(VWDGR"
D(QOD6XEVHFUHWDUtDGHO0LQLVWHULRGHO,QWHULRU
'HTXLpQGHSHQGHHO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU*(6,"
D'HOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
E'HO0LQLVWURGHO,QWHULRUGLUHFWDPHQWH
F'HOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOGHORVVLJXLHQWHVyUJDQRVSHUWHQHFHDOD6HFUHWDUtDGH(VWDGRGH
6HJXULGDG"
F/D'LUHFFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
/DFUHDFLyQGH8QLGDGHVHVSHFLDOHVFRQMXQWDVVREUHFULPLQDOLGDGRUJDQL
]DGDLQWHOLJHQFLDHLQYHVWLJDFLyQWHUURULVPRLQWHUYHQFLyQSROLFLDO\GHVDFWLYDFLyQ
GHH[SORVLYRVHVREMHWLYRSULRULWDULRGH
D(O&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR&(08
E(O&HQWUR1DFLRQDOGH&RRUGLQDFLyQ$QWLWHUURULVWD
4XpUDQJRWLHQHHOWLWXODUGHO*DELQHWHGHO0LQLVWUR"
D'LUHFWRU*HQHUDO
E6XEVHFUHWDULR
F6XEGLUHFWRU*HQHUDO
(QHO0LQLVWHULRGHO,QWHULRUOD'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWL
YDV\6RFLDOHVGHSHQGHGLUHFWDPHQWHGH
D'HO6HFUHWDULRGHO(VWDGRGH6HJXULGDG
E0LQLVWURGHO,QWHULRU
F'HO6XEVHFUHWDULR
(O&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH
6HJXULGDGGHO(VWDGR&(08ORSUHVLGH
&XiOGHORVVLJXLHQWHVQRHVXQyUJDQRGLUHFWLYRGHO0LQLVWHULRGHO,QWHULRU"
E/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
'yQGHVHLQFDUGLQDOD'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUUR
ULVPR"
F'LUHFWDPHQWHHQHO*DELQHWHGHO0LQLVWUR
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
F$O&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR
F/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
E(O6XEVHFUHWDULR
E$OD'LUHFFLyQ*HQHUDOGH*HVWLyQGH5HFXUVRV
F/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV
D'HODGLUHFFLyQ*HQHUDOGH7UiILFR
F/D6HFUHWDUtD*HQHUDOGHOD6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV+XPDQRV
E'HOD'LUHFFLyQ*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D'HO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
F(O'LUHFWRUGHO*DELQHWHGH&RRUGLQDFLyQGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
D(O*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
E(QODGH3URWHFFLyQ&LYLO\(PHUJHQFLDV
D'HO6XEVHFUHWDULR
D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E/D'LUHFFLyQ*HQHUDOGHSROtWLFD,QWHULRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F'HOD6XEVHFUHWDUtDGHO,QWHULRU
F1LQJXQRGHORVGRVDQWHULRUHV
E/D6XEGLUHFFLyQ*HQHUDOGH$VLOR
E6XEVHFUHWDULRGHO,QWHULRU
F$O'LUHFWRU*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
E(O5HDO'HFUHWRGHGHMXOLR
F7RGRORDQWHULRUOHFRUUHVSRQGH
D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV
E(QOD'LYLVLyQGH)RUPDFLyQ\5HODFLRQHV,QVWLWXFLRQDOHVGHOD'LUHFFLyQ*HQHUDO
GH3URWHFFLyQ&LYLO\(PHUJHQFLDV
F/D6HFUHWDUtD*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDVGHSHQGHGHOD6XEVHFUH
WDUtDGHO,QWHULRU
F7RGRVORVRUJDQLVPRVDQWHULRUHVSHUWHQHFHQDGLFKDRUJDQL]DFLyQ
E'HO(VWDGR
F/D/H\2UJiQLFDGHGHPDU]R
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D$OD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
F/D'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUURULVPR
F/D6XEVHFUHWDUtDGHO,QWHULRUDWUDYpVGHVX6HFUHWDUtD*HQHUDO7pFQLFD
F$ODV&RUSRUDFLRQHV/RFDOHV\DOD'LUHFFLyQ*HQHUDOGH7UiILFR
E/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU\OD'LUHFFLyQ*HQHUDOGH3URWHFFLyQ&LYLO
\(PHUJHQFLDV
D'LUHFFLyQ*HQHUDO
D/D'LUHFFLyQ*HQHUDOGH$SR\RD9tFWLPDVGHO7HUURULVPRGHSHQGHGLUHFWDPHQWH
GHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
E/D'LUHFFLyQ*HQHUDOGH&RRUGLQDFLyQ\0HGLR$ELHUWR
E,QVWLWXFLRQHV3HQLWHQFLDULDV
F6XEVHFUHWDULR
F1LQJXQDGHODVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F7RGRHOFRQWHQLGRGHODVGRVUHVSXHVWDVDQWHULRUHV
D/DVHJXULGDGS~EOLFDGHORVHVSHFWiFXORV\DFWLYLGDGHVUHFUHDWLYDVHQHOiPELWR
GHFRPSHWHQFLDVGHO(VWDGR
F/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHV

E'LUHFWRU*HQHUDO
D(QOD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
E/D6HFUHWDUtD*HQHUDO7pFQLFD
F7RGRVORVDQWHULRUHV
F(VHRUJDQLVPRKDGHVDSDUHFLGRGHO0LQLVWHULRGHO,QWHULRU
F7RGRVORVDQWHULRUHV
F7RGRVORVDQWHULRUHV
F6XEGLUHFFLyQ*HQHUDO
F(O6HFUHWDULR*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
E$O6HFUHWDULRGHO(VWDGRGH6HJXULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU
E7UHV
D'H'LUHFFLyQ*HQHUDO
F1LQJXQRGHORVWUHVDQWHULRUHV
F7RGDVODVDQWHULRUHV
F7RGRVORVDQWHULRUHV
F/D6HFUHWDUtD*HQHUDO7pFQLFDGHOD6XEVHFUHWDUtDGHO,QWHULRU
F7RGRVORVDQWHULRUHV
F/D'LUHFFLyQ*HQHUDOGH3ROtWLFD,QWHULRU
E'HO,QWHULRU
D(QOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F/D'HOHJDFLyQ*HQHUDOGH,QIUDHVWUXFWXUDV\0DWHULDOGHOD6HJXULGDG
E$O0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPLQLVWUDFLyQ3~EOLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D'H3ROtWLFD,QWHULRU
D'HO&RPLWp(MHFXWLYRGHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJX
ULGDGGHO(VWDGR
D(O*DELQHWHGH&RRUGLQDFLyQGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
F$OD,QVSHFFLyQGH3HUVRQDO\6HUYLFLRVGH6HJXULGDGGHOD6HFUHWDUtDGH(VWDGR
GH6HJXULGDG
F/DVGRVUHVSXHVWDVVRQFRUUHFWDV
F6XEVHFUHWDUtD
F6XEGLUHFWRU*HQHUDO
F3RU5HDO'HFUHWRGHGHDEULO
D(O-HIHGHO*DELQHWHGHO0LQLVWUR
D(ODERUDUXQLQIRUPHDQXDOVREUHFULPLQDOLGDGRUJDQL]DGD\XQDHYDOXDFLyQSH
ULyGLFDGHDPHQD]D
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D(O&RPLWp(MHFXWLYRGHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR&(08
D'LUHFWRU*HQHUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$',5(&&,1*(1(5$/'(/$32/,&$<'(/$*8$5',$&,9,/<(/
0$1'21,&2(6758&785$25*1,&$<)81&,21(6'(/266(59,&,26
&(175$/(6<3(5,)e5,&26'(/&8(5321$&,21$/'(32/,&$(/&8(532
1$&,21$/'(32/,&$)81&,21(6(6&$/$6<&$7(*25$66,67(0$6'(
$&&(625e*,0(1',6&,3/,1$5,26,78$&,21(6$'0,1,675$7,9$6
/D8QLGDGGHO&XHUSR1DFLRQDOGH3ROLFtDHQFDUJDGDGHODSURWHFFLyQ\DVLV
WHQFLDDODVYtFWLPDVGHODYLROHQFLDGHJpQHURVHLQFDUGLQD
D(QOD8QLGDGGH'HOLQFXHQFLD(VSHFLDOL]DGD\9LROHQWDGHOD&RPLVDUtD*HQHUDOGH
3ROLFtD-XGLFLDO
E(QOD8QLGDG&HQWUDOGH3DUWLFLSDFLyQ&LXGDGDQD\3URJUDPDVGHOD&RPLVDUtD*H
QHUDOGH6HJXULGDG&LXGDGDQD
F (Q OD 8QLGDG GH 3URWHFFLRQHV (VSHFLDOHV GH OD &RPLVDUtD *HQHUDO GH 6HJXULGDG
&LXGDGDQD
/RV6HUYLFLRVGH([SHGLFLyQGH3DVDSRUWHVHQHO&XHUSR1DFLRQDOGH3ROLFtD
HVWiQHQFRPHQGDGRV
D$OD&RPLVDUtD*HQHUDOGH([WUDQMHUtD\)URQWHUDV
E$OD8QLGDGGH'RFXPHQWDFLyQGH(VSDxROHVGHSHQGLHQWHGHOD6XEGLUHFFLyQ*HQH
UDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QIXQFLRQDULRHQVLWXDFLyQGHH[FHGHQFLDSRUFXLGDGRGHIDPLOLDUHVVXSHUD
ORVWUHVDxRVGHGXUDFLyQHQODPLVPDDTXpRWUDVLWXDFLyQDGPLQLVWUDWLYDSDVD
DXWRPiWLFDPHQWH"
D$H[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODU
E6HOHSXHGHQFRQFHGHURWURVWUHVDxRVHQODPLVPDVLWXDFLyQ
F$H[FHGHQFLDIRU]RVD
3DUDODVIDOWDVGLVFLSOLQDULDVFRPHWLGDVSRUIXQFLRQDULRVGHO&XHUSR1DFLRQDO
GH3ROLFtDXQDYH]TXHKDQVLGRFRPHWLGDVFXiQGRHPSLH]DDFRQWDUHOSOD]RGH
SUHVFULSFLyQ"
D$OGtDVLJXLHQWHGHGDUFXHQWDDOVXSHULRUMHUiUTXLFRGHODFRPLVLyQGHODIDOWD
E$SDUWLUGHOPLVPRGtDHQTXHODIDOWDVHFRPHWLy
F$SDUWLUGHOGtDHQTXHILQDOLFHHOH[SHGLHQWHGLVFLSOLQDULR
(QHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDHOSUHVFLQGLUGHO
FRQGXFWRUHJODPHQWDULRSDUDIRUPXODUFXDOTXLHUVROLFLWXGUHFODPDFLyQRTXHMDUH
ODFLRQDGDFRQHOVHUYLFLRDVtFRPRQRWUDPLWDUODVPLVPDVHVWiFDWDORJDGRFRPR
D)DOWDPX\JUDYH
E)DOWDJUDYH
F)DOWDOHYH
(QHO&XHUSR1DFLRQDOGH3ROLFtDGyQGHVHVLW~DOD8QLGDGGH$VXQWRV,QWHUQRV"
D(QOD8QLGDGGH5pJLPHQ'LVFLSOLQDULR
E(QOD'LYLVLyQGH3HUVRQDO
(O&RQVHMRGH3ROLFtDHVWiSUHVLGLGRSRU
E(O0LQLVWURGHO,QWHULRU
(QHO&XHUSR1DFLRQDOGH3ROLFtDTXLpQGHVHPSHxDODIXQFLyQGH6HFUHWDULR
GHOD-XQWDGH*RELHUQR"
D(O6HFUHWDULR*HQHUDOGHOD'LUHFFLyQ$GMXQWD2SHUDWLYD
E(O-HIHGHOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
F(O-HIHGHOD'LYLVLyQGH3HUVRQDO
5HVSHFWRDODH[FHGHQFLDYROXQWDULDLQFHQWLYDGDTXpIXQFLRQDULRVSXHGHQ
VROLFLWDUOD"
D/RVTXHHVWpQHQVLWXDFLyQGHH[FHGHQFLDIRU]RVDFRPRFRQVHFXHQFLDGHODDSOLFD
FLyQGHXQ3ODQGH(PSOHR
E/RVIXQFLRQDULRVTXHFRPRPtQLPROOHYHQWUHVDxRVGHVHUYLFLRDFWLYR
F1LQJ~QIXQFLRQDULRHQFXDOTXLHUWLSRGHH[FHGHQFLDODSXHGHVROLFLWDU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HJ~Q HO 5pJLPHQ 'LVFLSOLQDULR GHO &XHUSR 1DFLRQDO GH 3ROLFtD FXiQGR
HPSLH]DDFRPSXWDUVHHOSHUtRGRGHWLHPSRGHODSUHVFULSFLyQGHXQDIDOWD"
D'HVGHHOGtDTXHVHGLFWyVHQWHQFLDILUPH
E&XDQGRORILMHODOH\VLHPSUHTXHQRVHYXHOYDDGHOLQTXLU
F'HVGHHOGtDHQTXHODIDOWDVHFRPHWLy
(QHORUJDQLJUDPDGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
H[LVWHXQyUJDQRFRQGHQRPLQDFLyQFRP~QHQDPERV&XHUSRVVHxiOHOR
D/D6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV+XPDQRV
E/D'LUHFFLyQ$GMXQWD2SHUDWLYD
F/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
/D6HFFLyQGH7HFQRORJtDGHOD,PDJHQHQTXp8QLGDG&HQWUDOVHLQFDUGL
QDGHQWURGHOD&RPLVDUtD*HQHUDOGH3ROLFtD&LHQWtILFD"
D(QODGH$QiOLVLV&LHQWtILFRV
E(QODGH,GHQWLILFDFLyQ
F(QODGH&RRUGLQDFLyQ2SHUDWLYD
/D8QLGDGGH5HODFLRQHV,QIRUPDWLYDV\6RFLDOHVGHSHQGHGH
D/D'LYLVLyQGH3HUVRQDO
F1LQJXQDGHODVGRVDQWHULRUHV
/D&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDOWLHQHDVXFDUJRODFRRSHUDFLyQWpF
QLFD\SUHVWDFLyQGHDX[LOLRDODV3ROLFtDVGHRWURVSDtVHVFRQIRUPHDORHVWDEOHFLGR
HQORV7UDWDGRV\$FXHUGRV,QWHUQDFLRQDOHVILUPDGRVSRU(VSDxDDWUDYpVGH
D/D2ILFLQD6LUHQH
F/D8QLGDGGH&RRSHUDFLyQ3ROLFLDO,QWHUQDFLRQDO
4XpRUJDQLVPRWLHQHODPLVLyQGHJHVWLRQDU\FRRUGLQDUORVDVXQWRVUHOD
FLRQDGRVFRQORVJUXSRVGHWUDEDMRHQTXHSDUWLFLSDHO&XHUSR1DFLRQDOGH3ROLFtD
HQHOiPELWRGHOD8QLyQ(XURSHD"
D/D8QLGDGGH&RRUGLQDFLyQ,QWHUQDFLRQDO
E/D8QLGDGGH&RRSHUDFLyQ3ROLFLDO,QWHUQDFLRQDOGHOD&RPLVDUtD*HQHUDOGH3ROLFtD
-XGLFLDO
F/D8QLGDGGH6HJXLPLHQWR\&RQWURO2SHUDWLYR
'HQWURGHOD&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDOOD8QLGDG$GVFULWDDOD
)LVFDOtD(VSHFLDOSDUDOD5HSUHVLyQGHORV'HOLWRV(FRQyPLFRV5HODFLRQDGRVFRQOD
&RUUXSFLyQSHUWHQHFHDOD
D8QLGDG&HQWUDOGH'HOLQFXHQFLD(FRQyPLFD\)LVFDO
E8QLGDGGH'URJD\&ULPHQ2UJDQL]DGR
F8QLGDGGH&ULPLQDOtVWLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHODVIXQFLRQHVGHOD&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDOODFRPSH
WHQFLDHVSHFtILFDHQODLQYHVWLJDFLyQVREUHHOEODQTXHRGHFDSLWDOHVOHFRPSHWHD
D/D%ULJDGDGH,QYHVWLJDFLyQGHO%DQFRGH(VSDxD
E/D8QLGDG$GVFULWDDOD)LVFDOtD$QWLFRUUXSFLyQ
F/D%ULJDGD&HQWUDOGH'HOLQFXHQFLD(FRQyPLFD\)LVFDO
(QXQD-HIDWXUD6XSHULRUGH3ROLFtDTXLpQHVHOVHJXQGRMHIH"
D(O&RPLVDULRPiVDQWLJXR
E(O-HIHGHOD8QLGDGGH&RRUGLQDFLyQ2SHUDWLYD7HUULWRULDO
F(O-HIHGHOD8QLGDGGH$SR\R
(O&RQVHMR$VHVRUGHO&XHUSR1DFLRQDOGH3ROLFtDGHSHQGH
D'HOD-HIDWXUDGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
E'HOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
F'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOGLUHFWDPHQWH
(QHO&XHUSR1DFLRQDOGH3ROLFtDODV8QLGDGHVGH3UHYHQFLyQ\5HDFFLyQ
835GHSHQGHQGHOD&RPLVDUtD*HQHUDOGH
D6HJXULGDG&LXGDGDQD
E3ROLFtD-XGLFLDO
F,QIRUPDFLyQ
8QD8QLGDGGH,QWHUYHQFLyQ3ROLFLDO8,3GHSHQGHIXQFLRQDOPHQWH
D'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOGLUHFWDPHQWH
E'HOD6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ\5HFXUVRV+XPDQRV
F'HODUHVSHFWLYD-HIDWXUD6XSHULRUR&RPLVDUtD3URYLQFLDOGRQGHWHQJDQVXVHGH
(QXQD%ULJDGDTXpWLSRGHIDOWDVSXHGHVDQFLRQDUXQ,QVSHFWRU-HIH"
D$PRQHVWDFLRQHV
E)DOWDVOHYHV
F1LQJXQD
(OFRQWUROGHODVHPSUHVDV\GHOSHUVRQDOGHOD6HJXULGDG3ULYDGDFRUUHV
SRQGHD
E/D'LYLVLyQGH3HUVRQDO
F/D&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
/DGLUHFFLyQGHOD2ILFLQD&HQWUDO1DFLRQDOGH,QWHUSROFRUUHVSRQGHD
D(O*DELQHWH7pFQLFR
E/D&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDO
F/D&RPLVDUtD*HQHUDOGH([WUDQMHUtD\)URQWHUDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O*UXSR(VSHFLDOGH2SHUDFLRQHV*(2GHO&XHUSR1DFLRQDOGH3ROLFtDGH

SHQGHGHOD
D'LUHFFLyQ$GMXQWD2SHUDWLYD
E&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
F&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDO
/D$FDGHPLDGH3ROLFtDFRQVHGHHQYLODGHSHQGH
D'HOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
E'HOD'LUHFFLyQ$GMXQWD2SHUDWLYD
F'LUHFWDPHQWHGHO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
(QHO&XHUSR1DFLRQDOGH3ROLFtDFXiQWDV&RPLVDUtDV*HQHUDOHVH[LVWHQ"
D7UHV
E&XDWUR
F&LQFR
/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3
D6RQ8QLGDGHVGHO&XHUSR1DFLRQDOGH3ROLFtDDGVFULWDVDODV&RPXQLGDGHV$XWyQR
PDV
E6RQ8QLGDGHVSROLFLDOHVSURSLDVGHODV&RPXQLGDGHV$XWyQRPDV
F6RQ8QLGDGHVGHODFWXDO&XHUSR1DFLRQDOGH3ROLFtD
$OD8'<&2GHOD&RPLVDUtD*HQHUDOGH3ROLFtD-XGLFLDOOHFRUUHVSRQGH
D(OFRQWUROGHHQWUDGD\VDOLGDGHOWHUULWRULRQDFLRQDOGHH[WUDQMHURV\HVSDxROHV
E/DYLJLODQFLD\SURWHFFLyQGHDOWDVSHUVRQDOLGDGHV
F/DLQYHVWLJDFLyQ\SHUVHFXFLyQGHODVDFWLYLGDGHVGHOLFWLYDVUHODFLRQDGDVFRQHOFUL
PHQRUJDQL]DGR
(QWUH ORV VLJXLHQWHV TXp RUJDQLVPR DVXPH OD GLUHFFLyQ GH ORV VHUYLFLRV
HQFDUJDGRV GH OD LQYHVWLJDFLyQ GH GHOLWRV PRQHWDULRV \ ORV UHODFLRQDGRV FRQ OD
PRQHGDDVtFRPRODFRODERUDFLyQFRQORVVHUYLFLRVFRUUHVSRQGLHQWHVGHO%DQFRGH
(VSDxDHQHVWRVDVXQWRV"
D(O'LUHFWRUGHO%DQFRGH(VSDxD
E(O7ULEXQDOGH&XHQWDVGHO5HLQR
/DLQPLJUDFLyQLOHJDOFRPSHWHDOD&RPLVDUtD*HQHUDOGH
D,QIRUPDFLyQ
E3ROLFtD-XGLFLDO
F([WUDQMHUtD\)URQWHUDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DIXQFLyQGHYLJLODQFLDHLQYHVWLJDFLyQGHODVFRQGXFWDVGHORVIXQFLRQDULRV
GHO&XHUSR1DFLRQDOGH3ROLFtDFRQWUDULDVDODpWLFDSURIHVLRQDOFRUUHVSRQGH
D$O-HIHGHOOXJDUGRQGHSUHVWHQVXVVHUYLFLRV
F$O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
/DV'LYLVLRQHVHQHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtD
D6RQiUHDVDGPLQLVWUDWLYDVTXHVHHQFDUJDQDQLYHOSURYLQFLDOGHORVDVXQWRVGHVX
FRPSHWHQFLD
E6RQiUHDVDGPLQLVWUDWLYDVTXHVHHQFDUJDQDQLYHOORFDOGHORVDVXQWRVGHVXFRP
SHWHQFLD
F6RQyUJDQRVGHFREHUWXUDDSR\RJHVWLyQ\DGPLQLVWUDFLyQHQHO&XHUSR1DFLRQDO
GH3ROLFtD
(QHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDTXLpQVXSOHDO'LUHFWRU*HQH
UDOGHOD3ROLFtD\OD*XDUGLD&LYLOHQFDVRGHHQIHUPHGDGGHHVWH~OWLPR"
D(O'LUHFWRU$GMXQWR2SHUDWLYR
E(O-HIHGHVX*DELQHWH
F(O6XEGLUHFWRU*HQHUDOGHO*DELQHWH7pFQLFR
&XiQWDV-HIDWXUDV6XSHULRUHVGH3ROLFtDH[LVWHQHQODDFWXDOLGDG"
D7DQWDVFRPRSURYLQFLDV
E/DVPLVPDVTXH&RPXQLGDGHV$XWyQRPDV
F9HLQWH
(O'LUHFWRU*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLOGHSHQGHGLUHFWDPHQWHGHO
D6HFUHWDULRGH(VWDGRGH6HJXULGDG
F*DELQHWHGHO0LQLVWURGHO,QWHULRU
(O&HQWUR3ROLFLDOGHOD&LXGDG$XWyQRPDGH&HXWDWLHQHFDWHJRUtDGH
D&RPLVDUtD3URYLQFLDO
E&RPLVDUtD=RQDO
F-HIDWXUD6XSHULRU
(O&HQWUR3ROLFLDOGHOD&LXGDG$XWyQRPDGH0HOLOODWLHQHFDWHJRUtDGH
D&RPLVDUtD3URYLQFLDO
E&RPLVDUtD=RQDO
F-HIDWXUD6XSHULRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D8QLGDGEiVLFDGHODRUJDQL]DFLyQSROLFLDOHQODVJUDQGHVXUEHVHVOD&R
PLVDUtD
D'H'LVWULWR
E=RQDO
F/RFDO
8QDGHODVVLJXLHQWHVDILUPDFLRQHVHVHUUyQHD
D/DV-HIDWXUDV6XSHULRUHVGH3ROLFtD\&RPLVDUtDV3URYLQFLDOHVVRQyUJDQRVWHUULWRULDOHV
E/D'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWRHVXQyUJDQRFHQWUDO
F/DV&RPLVDUtDV3URYLQFLDOHVVRQRUJDQLVPRVFHQWUDOHVPLHQWUDVTXHODV&RPLVDUtDV
=RQDOHVVRQWHUULWRULDOHV
/D8QLGDGGH'URJD\&ULPHQ2UJDQL]DGRVHLQFDUGLQDHQ
/DV&RPLVDUtDVTXHHMHUFHQIXQFLRQHVGHGLUHFFLyQ\FRRUGLQDFLyQVREUHODV
&RPLVDUtDVGH'LVWULWRLQFOXLGDVHQVXGHPDUFDFLyQWHUULWRULDOVRQODV&RPLVDUtDV
D3URYLQFLDOHV
E=RQDOHV
F/RFDOHV
(QHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDOD-XQWDGH*RELHUQRHV
D8QyUJDQRFROHJLDGRFHQWUDOLQFDUGLQDGRHQOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GH
OD*XDUGLD&LYLO
E8QyUJDQRGHFRQVXOWDGHORV6XEGHOHJDGRVGHO*RELHUQR
F8QyUJDQRGHFRQVXOWDGHO3UHVLGHQWHGHO*RELHUQR
/D-XQWDGH*RELHUQRDQWHULRUHVWDUiSUHVLGLGDSRU
F(O6HFUHWDULRGH(VWDGRGH6HJXULGDG
&XiQWRV&RQVHMHURVDGHPiVGHVX3UHVLGHQWHLQWHJUDQHO&RQVHMR$VHVRU
GHO&XHUSR1DFLRQDOGH3ROLFtD"
D'LHFLVpLV
E'LHFLVLHWH
F'LHFLRFKR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DV8QLGDGHVGHVWLQDGDVDGHVDUUROODUHQOD]RQDIURQWHUL]DODFRRSHUDFLyQ
HQ PDWHULD SROLFLDO FRQ DTXHOORV (VWDGRV FRQ ORV TXH (VSDxD FRPSDUWH IURQWHUD
FRP~QVRQ
D/RV3XHVWRV)URQWHUL]RV
E/DV&RPLVDUtDV&RQMXQWDVR0L[WDV
F/DV-HIDWXUDV6XSHULRUHV
/D3ROLFtDHVXQVHUYLFLR
D3~EOLFR
E3ULYDGR
F3~EOLFR\SULYDGR
/D'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOHVXQyUJDQRGH
D/D$GPLQLVWUDFLyQ3URYLQFLDO
E/D$GPLQLVWUDFLyQ&HQWUDO
F/D$GPLQLVWUDFLyQ$XWRQyPLFD
4XLpQVXVWLWX\HDO-HIH6XSHULRUGH3ROLFtDHQFDVRGHYDFDQWHDXVHQFLD
RHQIHUPHGDGGHOPLVPR"
D(O&RPLVDULRPiVDQWLJXR
E(O-HIHGHOD8QLGDGGH$SR\R
F(O-HIHGHOD8QLGDGGH&RRUGLQDFLyQ2SHUDWLYD7HUULWRULDO
/RVVHUYLFLRVGHVHJXULGDGFRUUHVSRQGLHQWHVDO&XHUSR1DFLRQDOGH3ROLFtD
HQOD&DVDGH6X0DMHVWDGHO5H\HVWiQDGVFULWRVD
D/D6XEGLUHFFLyQ*HQHUDOGH3HUVRQDO
F'HSHQGHQGLUHFWDPHQWHGHO0LQLVWURGHO,QWHULRU
(O6HUYLFLRGH&RQWUROGH-XHJRVGH$]DUGHSHQGHGHOD&RPLVDUtD*HQHUDOGH
D([WUDQMHUtD\)URQWHUDV
E3ROLFtD-XGLFLDO
F3ROLFtD&LHQWtILFD
4XLpQGHEHLQWHUYHQLUHQODOLEHUDFLyQGHXQVHFXHVWUDGRSRUXQDRUJDQL
]DFLyQWHUURULVWD"
D/D8QLGDGGH,QWHUYHQFLyQ3ROLFLDO8,3
E/D%ULJDGDGH,QIRUPDFLyQ
F/RV*UXSRV(VSHFLDOHVGH2SHUDFLRQHV*(2

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3WLHQHQHQWUHVXVPLVLRQHVODGH

D,QYHVWLJDUGHOLWRVFRQWUDHORUGHQS~EOLFR
E&RODERUDUHQODSURWHFFLyQGH6600ORV5H\HVGH(VSDxD
F$FWXDFLRQHVGHGHVDFWLYDFLyQGHH[SORVLYRV
/DVGRWDFLRQHVSROLFLDOHVTXHWUDEDMDQDUHTXHULPLHQWRGHOD6DODGHO
WLHQHQFRPRPLVLyQHQWUHRWUDV
D$FWXDFLRQHVGHDX[LOLRFRQFDUiFWHUGHXUJHQFLD
E&RQGXFLUDORVGHWHQLGRVDO-X]JDGR
F,QWHUYHQLUHQJUDQGHVDOWHUDFLRQHVGHRUGHQS~EOLFR
/DSURWHFFLyQGH$OWDV3HUVRQDOLGDGHVH[WUDQMHUDVTXHVHHQFXHQWUHQYLVL
WDQGRQXHVWURSDtVHVFRPSHWHQFLDGH
D/RV*UXSRV(VSHFLDOHVGH2SHUDFLRQHV*(2
E/D8QLGDG&HQWUDOGH3URWHFFLyQ
F/RV*UXSRVGH6HJXULGDG
6HxDOHGHHQWUHODVVLJXLHQWHVODVTXHVHDQIXQFLyQHVGHO'LUHFWRU*HQH
UDOGHOD3ROLFtD\OD*XDUGLD&LYLO
D'LVWULEXLUORVPHGLRVSHUVRQDOHV\PDWHULDOHVDVLJQiQGRORVDODVGLVWLQWDV8QLGDGHV
TXHODLQWHJUDQDVtFRPRGLVSRQHUODFRODERUDFLyQ\SUHVWDFLyQGHDX[LOLRDODV3ROLFtDVGH
RWURVSDtVHVFRQDUUHJORDOD/H\\FRQIRUPHDORVFULWHULRVTXHHVWDEOH]FDOD6HFUHWDUtD
GH(VWDGRGH6HJXULGDG
E5HODFLRQDUVHGLUHFWDPHQWHFRQODVDXWRULGDGHVDGPLQLVWUDWLYDVRUJDQLVPRV\HQWL
GDGHVS~EOLFDVRSULYDGDVHQORUHIHUHQWHDOIXQFLRQDPLHQWRGHORVVHUYLFLRVRSHUDWLYRVGHO
&XHUSR1DFLRQDOGH3ROLFtD
4Xp VLJQLILFD TXH HO &XHUSR 1DFLRQDO GH 3ROLFtD WLHQH FRPR GHUHFKR VX
SOHWRULRDVXOHJLVODFLyQHVSHFtILFDODOHJLVODFLyQJHQHUDOGHORVIXQFLRQDULRVGHOD
$GPLQLVWUDFLyQ&LYLOGHO(VWDGR"
D4XHVHDSOLFDODOHJLVODFLyQPiVIDYRUDEOHDORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH
3ROLFtD
E4XHHQFDVRGHGXGDVLHPSUHVHDSOLFDODOHJLVODFLyQJHQHUDOGHORVIXQFLRQDULRV
S~EOLFRV
F4XHHQGHIHFWRGHQRUPDHVSHFtILFDSDUDOD3ROLFtDVHDSOLFDODOHJLVODFLyQJHQHUDO
GHIXQFLRQDULRVS~EOLFRV
/DDSOLFDFLyQGHO5pJLPHQ'LVFLSOLQDULRGHOSHUVRQDOGHO&XHUSR1DFLRQDOGH
3ROLFtDHQHOFDVRGHVHSDUDFLyQGHOVHUYLFLRFRUUHVSRQGH
E$OD'LUHFFLyQ$GMXQWD2SHUDWLYD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QHO&XHUSR1DFLRQDOGH3ROLFtDODREOLJDFLyQGHOOHYDUHODUPDUHJODPHQ
WDULDGXUDQWHHOWLHPSRTXHVHSUHVWHVHUYLFLR\VDOYRTXHXQDFDXVDMXVWLILFDGD
DFRQVHMHORFRQWUDULRVHHVWDEOHFHFRPRQRUPDJHQHUDOSDUDORVIXQFLRQDULRVTXH
VHHQFXHQWUHQ
D(QVHUYLFLRDFWLYR\HQVHJXQGDDFWLYLGDGFRQGHVWLQR
E6yORHQVHUYLFLRDFWLYR
F(QVHUYLFLRDFWLYR\HQVHJXQGDDFWLYLGDGVLQGHVWLQR
6RQyUJDQRVFROHJLDGRVFHQWUDOHVGHO&XHUSR1DFLRQDOGH3ROLFtD
D/D-XQWDGH*RELHUQR\HO&RQVHMR$VHVRU
E(O&RQVHMR$VHVRU\HO&RPLWpGH([SHUWRV
F/D-XQWD5HJLRQDO\OD-XQWD3URYLQFLDO
&RQFXiQWRWLHPSRVHGHEHUiDYLVDUDOD6XSHULRULGDGSDUDTXHXQ6LQGLFD
WRGHO&XHUSR1DFLRQDOGH3ROLFtDSXHGDFRQYRFDUXQDUHXQLyQHQXQRGHORVORFDOHV
RILFLDOHVGHOD&RPLVDUtD"
D9HLQWLFXDWURKRUDV
E6HWHQWD\GRVKRUDV
F'LH]GtDV
'HTXp&RPLVDUtD*HQHUDOGHSHQGHORUHODWLYRDORVGHWHFWLYHVGH6HJXUL
GDG3ULYDGD"
D,QIRUPDFLyQ
E6HJXULGDG&LXGDGDQD
F3ROLFtD-XGLFLDO
(OIXQFLRQDULRGH3ROLFtDGHEHUiLQWHUYHQLUHQGHIHQVDGHOD/H\
D+DGHLQWHUYHQLUVLHPSUHHQFXDOTXLHUWLHPSR\OXJDU
E6RODPHQWHFXDQGRHVWpGHVHUYLFLR
F6yORVLHOKHFKRVHKDSURGXFLGRHQVXGHPDUFDFLyQSROLFLDO
/RVPDQGRVGHORV&XHUSRVGH3ROLFtDGHODV&RPXQLGDGHV$XWyQRPDVVH
GHVLJQDUiQ
D/LEUHPHQWHSRUHO3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDUHVSHFWLYDHQWUHFLXGDGD
QRVGHODPLVPD
E(QWUH-HIHV2ILFLDOHV\0DQGRVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\
GHODV)XHU]DV$UPDGDV
F6yORHQWUH-HIHV2ILFLDOHV\0DQGRVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
3DUDJDUDQWL]DUODVHJXULGDGFLXGDGDQDOD3ROLFtDWLHQHGRVIXQFLRQHV
D3ROLFLDO\GHLQYHVWLJDFLyQ
E3ROLFLDO\MXGLFLDO
F3UHYHQWLYD\UHSUHVLYD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D2ILFLQD6,5(1(GHSHQGHGH
D/D&RPLVDUtD*HQHUDOGH([WUDQMHUtD\)URQWHUDV
E/D&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
/DDFWLYLGDGSROLFLDOHQFDPLQDGDDLQYHVWLJDUORVGHOLWRVHVXQDIXQFLyQ
D3UHYHQWLYD
E5HSUHVLYD
F,QVWLWXFLRQDO
/DDFWLYLGDGLQYHVWLJDGRUD\GHLQIRUPDFLyQSROLFLDO\ODUHVSRQVDELOLGDGLQ
PHGLDWDGHORVVHUYLFLRVHVXQDIXQFLyQTXHFRUUHVSRQGHDOD(VFDOD
D(MHFXWLYD
E%iVLFD
F6XELQVSHFFLyQ
(QHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDOD'LUHFFLyQ$GMXQWD2SHUDWLYD
ODV6XEGLUHFFLRQHV*HQHUDOHVGH5HFXUVRV+XPDQRV\ODGH*HVWLyQ(FRQyPLFD7pF
QLFD\'RFXPHQWDODVtFRPROD8QLGDGGH&RRUGLQDFLyQGHSHQGHQGLUHFWDPHQWHGH
F1LQJXQDUHVSXHVWDDQWHULRUHVFRUUHFWD
/D8QLGDG&HQWUDOGH3URWHFFLyQVHHQFXHQWUDDGVFULWDDOD&RPLVDUtD*H
QHUDOGH
D6HJXULGDG&LXGDGDQD
E([WUDQMHUtD\)URQWHUDV
F3ROLFtD-XGLFLDO
/DFLXGDGGH/RJURxRSHUWHQHFHDOD-HIDWXUD6XSHULRUGH3ROLFtDGH
D&DQWDEULD
E/D5LRMD
F1DYDUUD
(QODDFWXDOLGDGHOPRGHORSROLFLDOGH(VSDxDVHFRQILJXUDDSDUWLUGH
E/D&RQVWLWXFLyQ
F/D/H\2UJiQLFDGHGHPDU]R\VXUHIRUPDSRU/H\2UJiQLFD
GHGHPD\R
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QHO&XHUSR1DFLRQDOGH3ROLFtDODVHOHFFLyQ\SURPRFLyQGHVXSHUVRQDO
ODOOHYDDFDER
D(O&HQWURGH)RUPDFLyQ
E/D(VFXHODGHYLOD
F/D'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
(QWUHODVVLJXLHQWHVIXQFLRQHVVHxDOHODTXHFRUUHVSRQGDDO'LUHFWRU*HQH
UDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOHQHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtD
D'LULJLU\FRRUGLQDUORVVHUYLFLRV\ORVyUJDQRVFHQWUDOHV\SHULIpULFRVGHO&XHUSR1D
FLRQDOGH3ROLFtDDVtFRPRODDSOLFDFLyQGHO5pJLPHQ'LVFLSOLQDULRGHO3HUVRQDOGHO&XHUSR
1DFLRQDOGH3ROLFtD
E,PSXOVDUHODQiOLVLVSODQLILFDFLyQ\GHVDUUROORGHORVPpWRGRVWpFQLFDV\SURFHGL
PLHQWRVHQHOiPELWRRSHUDWLYRSROLFLDO
&XiQWRVUHSUHVHQWDQWHVWLHQHQTXHREWHQHUODVRUJDQL]DFLRQHVVLQGLFDOHV
HQODVHOHFFLRQHVDO&RQVHMRGH3ROLFtDSDUDVHUFRQVLGHUDGDVUHSUHVHQWDWLYDV"
D'LH]
E8QR
F&LQFR
'HHQWUHORVVLJXLHQWHV\HQHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDVHxD
OHHOyUJDQRTXHSHUWHQHFHDOD2UJDQL]DFLyQ7HUULWRULDOGHOD'LUHFFLyQ*HQHUDOGH
OD3ROLFtD\GHOD*XDUGLD&LYLO
D/DV-HIDWXUDV6XSHULRUHVGH3ROLFtD
E/DV&RPLVDUtDV*HQHUDOHV
F/D'LYLVLyQGH3HUVRQDO
(QFXiOGHODVVLJXLHQWHVPDWHULDVOD-XQWDGH*RELHUQRDVHVRUDDOD'LUHF
FLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO"
D'HILQLFLyQGHREMHWLYRVHQODVGLIHUHQWHViUHDVGHDFWXDFLyQ
E(PLVLyQGHLQIRUPHVHQODVPDWHULDVTXHVHOHHQFRPLHQGHQ
F(QWUHRWUDVHQODVGRVDQWHULRUHVUHVSXHVWDV
(QWUHODVVLJXLHQWHVKD\XQD8QLGDGGH([WUDQMHUtD\)URQWHUDVTXHSHUWHQH
FHGLUHFWDPHQWHDXQD-HIDWXUD6XSHULRUGH3ROLFtDVHxiOHOD
D$OFDxLFHV
E&DPSURGyQ
F'DQFKDULQHD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O6HUYLFLR&HQWUDOGH'HVDFWLYDFLyQGH([SORVLYRVGHOD'LUHFFLyQ*HQHUDO
GHOD3ROLFtDHVWiXELFDGRHQOD
D8QLGDG&HQWUDO7('$;
E&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
F&RPLVDUtD*HQHUDOGH,QIRUPDFLyQ
(QTXp&RPLVDUtD*HQHUDOVHXELFDOD8QLGDG&HQWUDOGH&ULPLQDOtVWLFD"
D3ROLFtD-XGLFLDO
E3ROLFtD&LHQWtILFD
F6HJXULGDG&LXGDGDQD
$GPLQLVWUDUORVSURFHVRVVHOHFWLYRVSDUDHODFFHVR\SURPRFLyQLQWHUQDHQ
ODVGLIHUHQWHV&DWHJRUtDV\(VFDODVGHO&XHUSR1DFLRQDOGH3ROLFtDDVtFRPRORUHOD
WLYRDODKDELOLWDFLyQGHOSHUVRQDOGHVHJXULGDGSULYDGD\DODLQVSHFFLyQGH&HQWURV
GH)RUPDFLyQGH6HJXULGDG3ULYDGDHVIXQFLyQTXHGHVDUUROOD
D(OUHDGH3URFHVRV6HOHFWLYRV
E(O&HQWURGH3URPRFLyQ
F(O&HQWURGH$FWXDOL]DFLyQ\(VSHFLDOL]DFLyQ
(O6HUYLFLRGH+HOLFySWHURVGHSHQGH
D'HOD6HFUHWDUtD*HQHUDOGHOD6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD
\'RFXPHQWDO
E'HO6HUYLFLRGH6LVWHPDV(VSHFLDOHV
F'HOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
4XLpQVHUHVSRQVDELOL]DGHOFRQWUROGHODEVHQWLVPRHQHO&XHUSR1DFLRQDO
GH3ROLFtD"
D/D8QLGDGGH$WHQFLyQ6RFLR6DQLWDULD
E/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
F/D2ILFLQDGH$VXQWRV,QWHUQRV
4XpHVHO&RQVHMR1DFLRQDOGH3ROLFtDVHJ~QOD/H\2UJiQLFD"
D8QyUJDQRGHUHSUHVHQWDFLyQGHORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJX
ULGDG
E 8Q yUJDQR TXH JHVWLRQD ORV LQWHUHVHV GH ORV IXQFLRQDULRV GHO &XHUSR 1DFLRQDO GH
3ROLFtD
F8QyUJDQRGHPHGLDFLyQ\FRQFLOLDFLyQHQFDVRGHFRQIOLFWRVFROHFWLYRVHQHO&XHUSR
1DFLRQDOGH3ROLFtD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRQRH[LVWDSHUVRQDOYROXQWDULRSDUDFXEULUODVSOD]DVYDFDQWHVTXHVH
SURGX]FDQHQODV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3HO'LUHFWRU*HQHUDOGHOD
3ROLFtD\GHOD*XDUGLD&LYLOSRGUiFXEULUODVFRQFDUiFWHUIRU]RVRQRSXGLHQGRSHU
PDQHFHUORVDIHFWDGRVHQWDOVLWXDFLyQPiVGH
D6HLVPHVHV
E8QDxR
F'RVDxRV
/DV&RPLVDUtDV3URYLQFLDOHVIRUPDQSDUWHGHOD2UJDQL]DFLyQ
D7HUULWRULDO
E&HQWUDO
F$XWRQyPLFD
&XiOGHHVWRVRUJDQLVPRVQRGHSHQGHGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD
\GHOD*XDUGLD&LYLO"
E/D&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
F/D-HIDWXUDGH,QIRUPDFLyQH,QYHVWLJDFLyQ
4XLpQSURSRQHDORVPLHPEURVTXHLQWHJUDQHO&RQVHMR$VHVRUGHO&XHUSR
1DFLRQDOGH3ROLFtD"
E/D-XQWDGH*RELHUQR
F(O&RQVHMRGH3ROLFtD
(Q ODV -HIDWXUDV 6XSHULRUHV GH 3ROLFtD GHSHQGLHQGR GLUHFWDPHQWH GH VX
WLWXODUH[LVWH
D8QD6HFUHWDUtD*HQHUDO
E8QD8QLGDGGH$SR\R
F8Q*DELQHWH
/DYLJLODQFLDHQODVJUDQGHVFRQFHQWUDFLRQHVFRQPRWLYRGHHVSHFWiFXORV
S~EOLFRVGHQWURGHOiPELWRGHFRPSHWHQFLDGHO(VWDGRHVWiDVLJQDGDD
8QIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDTXHDFFHGDGHIRUPDYROXQWD
ULDDXQD8QLGDG$GVFULWDDXQD&RPXQLGDG$XWyQRPD
D7DPELpQGHIRUPDYROXQWDULDSXHGHVROLFLWDUODEDMDDOFXPSOLUORVGRVDxRVHQGLFKD
8QLGDG
E$ODFFHGHUDOD8QLGDGDVXPHHOFRPSURPLVRGHSHUPDQHFHUHQODPLVPDGXUDQWH
XQSHUtRGRGHXQDxR
F$VXPHHOFRPSURPLVRGHSHUPDQHFHUHQODPLVPDGXUDQWHXQSHUtRGRGHWUHVDxRV
FRQWLQXDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QODV-HIDWXUDV6XSHULRUHVGHO&XHUSR1DFLRQDOGH3ROLFtDHO*UXSR2SHUD
WLYR(VSHFLDOGH6HJXULGDG*2(6GHTXLpQGHSHQGH"
D2UJiQLFD\IXQFLRQDOPHQWHGHOD'LUHFFLyQ$GMXQWD2SHUDWLYD
E 2UJiQLFDPHQWH GH OD 'LUHFFLyQ $GMXQWD 2SHUDWLYD \ IXQFLRQDOPHQWH GH OD -HIDWXUD
6XSHULRUGH3ROLFtD
F2UJiQLFDPHQWHGHOD-HIDWXUD6XSHULRUGH3ROLFtD\IXQFLRQDOPHQWHGHOD-HIDWXUDGH
OD%ULJDGDGH6HJXULGDG&LXGDGDQD
(QHO&XHUSR1DFLRQDOGH3ROLFtDXQD8QLGDGGH3UHYHQFLyQ\5HDFFLyQ835
GHSHQGHGH
D2UJiQLFDPHQWHGHOD-HIDWXUD3URYLQFLDO\IXQFLRQDOPHQWHGHOD-HIDWXUDGHOD%ULJDGD
GH6HJXULGDG&LXGDGDQD
E2UJiQLFD\IXQFLRQDOPHQWHGHOD-HIDWXUD3URYLQFLDO
F2UJiQLFDPHQWHGHOD-HIDWXUDGH8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDOGHOD&RPLVDUtD
*HQHUDOGH6HJXULGDG&LXGDGDQD\IXQFLRQDOPHQWHGHOD-HIDWXUD6XSHULRUGH3ROLFtDGRQGH
WHQJDQVXVHGH
/RV DVSHFWRV RSHUDWLYRV GH ODV GLVWLQWDV -HIDWXUDV 6XSHULRUHV GHO &XHUSR
1DFLRQDOGH3ROLFtDVRQFRPSHWHQFLDGHO
D'LUHFWRU$GMXQWR2SHUDWLYR
E6XEGHOHJDGRGHO*RELHUQR
F'HOHJDGRGHO*RELHUQR
/DRUJDQL]DFLyQ\JHVWLyQGHORUHODWLYRDOGHUHFKRGHDVLOR\UHIXJLRFRPSH
WHDOD&RPLVDUtD*HQHUDOGH
E3ROLFtD-XGLFLDO
F6HJXULGDG&LXGDGDQD
&XDQGRVHLQVWUX\DXQH[SHGLHQWHDXQ&RPLVDULRGHO&XHUSR1DFLRQDOGH
3ROLFtDHQDFWLYRTXLpQSXHGHDFWXDUFRPR6HFUHWDULRGHGLFKRH[SHGLHQWH"
D&XDOTXLHUIXQFLRQDULRFRQFDWHJRUtDGH&RPLVDULRR,QVSHFWRU-HIH
E&XDOTXLHUIXQFLRQDULRHQVHUYLFLRDFWLYR
F&XDOTXLHUIXQFLRQDULRGHVWLQDGRHQHO0LQLVWHULRGHO,QWHULRU
6LFRPRFRQVHFXHQFLDGHOIXQFLRQDPLHQWRDQRUPDOGHXQVHUYLFLRS~EOLFR
VHFDXVDXQSHUMXLFLRHYDOXDEOHHFRQyPLFDPHQWHDXQDSHUVRQD\KDVLGRFDXVDGR
SRUXQ$JHQWHGHOD$XWRULGDGTXHFDUHFHGHPHGLRVHFRQyPLFRVTXLpQDVXPHOD
UHVSRQVDELOLGDG"
D/D$GPLQLVWUDFLyQ
E(O&XHUSRDOTXHSHUWHQH]FD
F(OSURSLR$JHQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~Q OD /H\ GH )XHU]DV \ &XHUSRV GH 6HJXULGDG DQWH OD H[LVWHQFLD GH
YDULRV FROHFWLYRV SROLFLDOHV FRQ DFWXDFLyQ VREUH XQ PLVPR WHUULWRULR HO SULQFLSLR
IXQGDPHQWDODVHJXLUHVHOGH
D-HUDUTXtDHQWUHXQDV\RWUDV
E&RRSHUDFLyQUHFtSURFD\FRRUGLQDFLyQ
F6XPLVLyQDXQPDQGR~QLFR
/D&RPLVDUtD(VSHFLDOGHOD3UHVLGHQFLDGHO*RELHUQRGHSHQGHGH
D'LUHFWDPHQWHGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F'HOD6HFUHWDUtD*HQHUDOGHOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
(QFDVRGHPRWLQHV\VLWXDFLRQHVGHDQiORJDSHOLJURVLGDGHQODVTXHLQWHU
YHQJDHO&XHUSR1DFLRQDOGH3ROLFtDORKDFHHVSHFtILFDPHQWHDWUDYpVGH
D/DV)XHU]DVGLVSRQLEOHVHQODSURYLQFLDGRQGHRFXUUDQORVKHFKRV
E/RV*UXSRVGH2SHUDFLRQHV(VSHFLDOHV
F/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3
/DSURYLQFLDGH$OEDFHWHHVWiHQFXDGUDGDHQOD-HIDWXUD6XSHULRUGH3ROL
FtDGH
D&DVWLOOD/D0DQFKD
E0XUFLD
F$QGDOXFtD2ULHQWDO
&RQFXiQWRWLHPSRGHDQWHODFLyQGHEHUiFRPXQLFDURILFLDOPHQWHVXSH
WLFLyQGHEDMDHQXQD8QLGDGGH,QWHUYHQFLyQ3ROLFLDOXQIXQFLRQDULRDGVFULWRDOD
PLVPDHQFDOLGDGGHYROXQWDULR\XQDYH]FXPSOLGRHOSHUtRGRUHJODPHQWDULR"
D6HLVPHVHV
E&XDWURPHVHV
F'RVPHVHV
(QHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDVHFRQVLGHUD
IDOWDPX\JUDYH
D1RPDQWHQHUHO-HIHRVXSHULRUODGHELGDGLVFLSOLQDRWROHUDUHODEXVRRH[WUDOLPLWD
FLyQGHIDFXOWDGHVHQHOSHUVRQDOVXERUGLQDGR
E+DEHUVLGRFRQGHQDGRHQYLUWXGGHVHQWHQFLDILUPHSRUXQGHOLWRGRORVRUHODFLRQDGR
FRQHOVHUYLFLR
F&XDOTXLHUFRQGXFWDFRQVWLWXWLYDGHGHOLWRSRULPSUXGHQFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DUHDOL]DFLyQGHIXQFLRQHVGHSUHYHQFLyQYLJLODQFLD\PDQWHQLPLHQWRGH
ODVHJXULGDGFLXGDGDQDHQJHQHUDOHQHO&XHUSR1DFLRQDOGH3ROLFtDFRUUHVSRQGH
DOD(VFDOD
D%iVLFD
E(MHFXWLYD
F6XELQVSHFFLyQ
(VFRQVWLWXWLYRGHIDOWDJUDYHHOKHFKRGH
D([KLELUDUPDVVLQFDXVDMXVWLILFDGD
E(OUHWUDVRRQHJOLJHQFLDHQHOFXPSOLPLHQWRGHODVIXQFLRQHV\yUGHQHVUHFLELGDV
F(OLQFXPSOLPLHQWRGHODVQRUPDVVREUHLQFRPSDWLELOLGDGHVFXDQGRHOORGpOXJDUDXQD
VLWXDFLyQGHLQFRPSDWLELOLGDG
/RVFRPSRQHQWHVGHO&XHUSR1DFLRQDOGH3ROLFtDDFWXDUiQ
D6LHPSUHGHXQLIRUPH
E'HSDLVDQRVLORSUHILHUHQ
F'HXQLIRUPHRGHSDLVDQRVHJ~QHOVHUYLFLRTXHGHVHPSHxHQ
6HxDOHGHHQWUHODVVLJXLHQWHVODRFDVLyQHQTXHHO&RQVHMRGH3ROLFtDQR
GHEHUiHPLWLUVXLQIRUPH
D(QORVH[SHGLHQWHVTXHVHLQVWUX\DQDORV&RPLVDULRV3ULQFLSDOHV\&RPLVDULRV
E(QORVH[SHGLHQWHVTXHVHLQFRHQDFXDOTXLHUPLHPEURGHO&XHUSR1DFLRQDOGH3ROL
FtDSRUIDOWDVPX\JUDYHV
F(QORVH[SHGLHQWHVVHJXLGRVDORVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtDTXHVHDQ
UHSUHVHQWDQWHVGHFXDOTXLHUVLQGLFDWRSROLFLDOUHSUHVHQWDWLYR
(QHO5HJODPHQWR'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDHPEULDJDU
VHRFRQVXPLUGURJDVWy[LFDVHVWXSHIDFLHQWHVRVXVWDQFLDVSVLFRWUySLFDVGXUDQWH
HOVHUYLFLRRUHDOL]DUORHQHVWDGRGHHPEULDJXH]REDMRORVHIHFWRVPDQLILHVWRVGH
ORVSURGXFWRVFLWDGRVHVIDOWD
D0X\JUDYH
E*UDYH
F'HSHQGHUiGHODOHJLVODFLyQTXHVHDSOLTXH
/RV6LQGLFDWRVGHO&XHUSR1DFLRQDOGH3ROLFtDSXHGHQUHXQLUVHGHQWURGH
ODV'HSHQGHQFLDVSROLFLDOHV
D6LHPSUHTXHORHVWLPHQFRQYHQLHQWH
E6LHPSUHTXHORVDVLVWHQWHVHVWpQOLEUHVGHVHUYLFLR
F)XHUDGHODVKRUDVGHWUDEDMRVLQSHUWXUEDUODPDUFKDGHOVHUYLFLR\FRQDXWRUL]DFLyQ
GHO-HIHGHOD'HSHQGHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HxDOHGHHQWUHODVVLJXLHQWHVODGXUDFLyQPtQLPD\Pi[LPDHQDxRVGH
ODH[FHGHQFLDFRQFHGLGDDXQD2ILFLDOGH3ROLFtDYtFWLPDGHYLROHQFLDGHJpQHUR
D'RV\TXLQFH
E8QR\FLQFR
F1LQJXQD
(Q FDVR GH TXH GHEDQ LQJUHVDU HQ SULVLyQ TXp UpJLPHQ VHJXLUtDQ ORV
PLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG"
D3ULVLyQPLOLWDU
E3ULVLyQRUGLQDULDHQUpJLPHQGHVHJXULGDG
F3ULVLyQSUHYHQWLYD
/RVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtD
D3RGUiQGHGLFDUVHDRWUDDFWLYLGDGOHJDOFXDQGRHVWpQOLEUHVGHVHUYLFLR
E6XDFWLYLGDG HV LQFRPSDWLEOH FRQ FXDOTXLHURWUDDFWLYLGDGS~EOLFDRSULYDGDVDOYR
DTXHOODVH[FHSWXDGDVGHODOHJLVODFLyQVREUHLQFRPSDWLELOLGDGHV
F3RGUiQGHVDUUROODURWUDDFWLYLGDGVLHVGLJQD\VXV-HIHVODDXWRUL]DQ
/D(VFDOD6XSHULRUGHO&XHUSR1DFLRQDOGH3ROLFtDWHQGUiIXQFLRQHVGH
D'LUHFFLyQ\FRRUGLQDFLyQ
E5HVSRQGHGHODHMHFXFLyQGHORVVHUYLFLRV
F,QYHVWLJDFLyQ
&XDQGRDOIXQFLRQDULRVHOHHVWpLQVWUX\HQGRH[SHGLHQWHGLVFLSOLQDULR
D3DVDUiDODVLWXDFLyQGHVXVSHQVLyQGHIXQFLRQHV
E1RSRGUiVROLFLWDUH[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODU
F3HUGHUiODFRQGLFLyQGHIXQFLRQDULR
8Q2ILFLDOGH3ROLFtDSRUUD]yQGHODHGDGSDVDDOD6HJXQGD$FWLYLGDGDO
FXPSOLUORV
D6HVHQWDDxRV
E&LQFXHQWD\RFKRDxRVSXGLHQGRDFRJHUVHDXQDSUyUURJDGHGRVDxRVPiV
F&LQFXHQWD\VHLVDxRVRDORVVHVHQWD\GRVDxRVDVXOLEUHHOHFFLyQ
&XDQGRXQPLHPEURGHO&XHUSR1DFLRQDOGH3ROLFtDHVDFXVDGRGHXQGHOLWR
\HVSURFHVDGRSRUOD$XWRULGDG-XGLFLDO
D7HQGUiTXHEXVFDUVH$ERJDGRSRUVXFXHQWDRDFHSWDUHOGHRILFLR
E6LHVXQDDFXVDFLyQSRUVXDFWXDFLyQSURIHVLRQDOOD'LUHFFLyQ*HQHUDOOHSURSRUFLRQD
/HWUDGRSDUDVXGHIHQVDHQWRGDVODVLQVWDQFLDV
F /D 'LUHFFLyQ *HQHUDO OH SURSRUFLRQD $ERJDGR WDQWR VL VX DFWXDFLyQ KD\D VLGR HQ
UHODFLyQFRQVXVHUYLFLRFRPRVLDFWXySDUWLFXODUPHQWH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDFUHDUXQDRUJDQL]DFLyQVLQGLFDOSROLFLDOVHGHSRVLWDUiQORV(VWDWXWRVHQ
F(O0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQSRUVHUDVXQWRODERUDO
6HxDOHGHHQWUHORVVLJXLHQWHVTXpUHTXLVLWRRUHTXLVLWRVGHEHQFRQWHQHU
ORV(VWDWXWRVGHXQDRUJDQL]DFLyQVLQGLFDOSROLFLDO
D'HQRPLQDFLyQGHOD$VRFLDFLyQ\ILQHVHVSHFtILFRVGHODPLVPD
E5pJLPHQHFRQyPLFRGHODPLVPD
F7RGDVODVUHVSXHVWDVVRQFLHUWDV
(QHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDODXWLOL]DFLyQRSHUDWLYDGHOD
LQIRUPDFLyQHVSHFtILFDHQPDWHULDDQWLWHUURULVWDHQHOiPELWRQDFLRQDOHLQWHUQDFLR
QDOHVIXQFLyQGHOD&RPLVDUtD*HQHUDOGH
D,QIRUPDFLyQ
E3ROLFtD-XGLFLDO
F6HJXULGDG&LXGDGDQD
$TXLpQFRUUHVSRQGHQODVIXQFLRQHVGHVHOHFFLRQDU\SURPRYHUDOSHUVR
QDOGHO&XHUSR1DFLRQDOGH3ROLFtD"
D$OD8QLGDGGH3URFHVRV6HOHFWLYRV
E$O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F$OD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
'HHQWUHODVVLJXLHQWHVFXiOHVIXQFLyQHVSHFtILFDGHO&XHUSR1DFLRQDO
GH3ROLFtD"
D/DFRQGXFFLyQLQWHUXUEDQDGHSUHVRV\GHWHQLGRV
E(OFRQWUROGHODV$GXDQDV
F(OFRQWUROGHHQWUDGD\VDOLGDGHOWHUULWRULRQDFLRQDOGHHVSDxROHV\H[WUDQMHURV
/D VDQFLyQ GH FLQFR GtDV D WUHV PHVHV GH VXVSHQVLyQ GH IXQFLRQHV VH
SRGUiLPSRQHUSRUXQDIDOWDGLVFLSOLQDULDGHFDUiFWHU
D*UDYH
E0HQRVJUDYH
F/HYH
8Q3ROLFtD1DFLRQDOFyPRSXHGHHMHUFHUHOGHUHFKRGHSHWLFLyQ"
D&ROHFWLYDPHQWHSRUHVFULWR
E,QGLYLGXDOPHQWHSRUHVFULWR\FRQDUUHJORDVX5HJODPHQWR
F,QGLYLGXDOPHQWH\FROHFWLYDPHQWHDWUDYpVGHVX6LQGLFDWR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QODVUHXQLRQHVGHOD-XQWDGH*RELHUQRGHO&XHUSR1DFLRQDOGH3ROLFtD
TXLpQKDFHGH6HFUHWDULR"
D(O-HIHGHOD'LYLVLyQGH3HUVRQDO
E(OTXHGHFLGDSHUVRQDOPHQWHHO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F(O6XEGLUHFWRU*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
&XiOGHODVVLJXLHQWHVVDQFLRQHVHVVXVFHSWLEOHGHVHULPSXHVWDHQFDVR
GHIDOWDPX\JUDYHFRPHWLGDSRUXQPLHPEURGHO&XHUSR1DFLRQDOGH3ROLFtD"
D6XVSHQVLyQGHIXQFLRQHVSRUPiVGHVHLVDxRV
E6HSDUDFLyQGHOVHUYLFLR
F(ODSHUFLELPLHQWR
4XLpQHQWHQGHUiGHORVGHOLWRV\IDOWDVSHQDOHVFRPHWLGRVSRUORVPLHP
EURVGHO&XHUSR1DFLRQDOGH3ROLFtD"
D(O'HOHJDGRGHO*RELHUQRGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E(O6XEGHOHJDGRGHO*RELHUQRHQODSURYLQFLDFRUUHVSRQGLHQWH
F/D-XULVGLFFLyQRUGLQDULDFRUUHVSRQGLHQWH
(QFXiOGHODVVLJXLHQWHVVLWXDFLRQHVDGPLQLVWUDWLYDVQRVHHQFXHQWUDQ
ORVIXQFLRQDULRVHQVLWXDFLyQGHVHUYLFLRDFWLYR"
D&XDQGRVHDQGHVLJQDGRVDVHVRUHVGHORVJUXSRVSDUODPHQWDULRVGHODV&RUWHV*HQH
UDOHVRGHODV$VDPEOHDV/HJLVODWLYDVGHODV&RPXQLGDGHV$XWyQRPDV
E &XDQGR VHDQ DFWLYDGRV FRPR UHVHUYLVWDV YROXQWDULRV SDUD SUHVWDU VHUYLFLRV HQ ODV
)XHU]DV$UPDGDV
F&XDQGRDGTXLHUDQODFRQGLFLyQGHIXQFLRQDULRVDOVHUYLFLRGH2UJDQL]DFLRQHV,QWHUQD
FLRQDOHVRGHFDUiFWHUVXSUDQDFLRQDO
(O,QVWLWXWRGH(VWXGLRVGHOD3ROLFtDGyQGHVHLQFDUGLQD"
D(QOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
F(QOD8QLGDGGH&RRUGLQDFLyQ
/DGLUHFFLyQFRRUGLQDFLyQ\VXSHUYLVLyQGHODV8QLGDGHV\ORV6HUYLFLRVHQ
HO&XHUSR1DFLRQDOGH3ROLFtDFRUUHVSRQGHDOD(VFDOD
D6XSHULRU
E(MHFXWLYD
F6XELQVSHFFLyQ
'HTXLpQGHSHQGHQORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDLQWH
JUDQWHVGHODV8QLGDGHV$GVFULWDVDODV&RPXQLGDGHV$XWyQRPDV"
D'HOD&RQVHMHUtDGHO,QWHULRUGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E'HO0LQLVWHULRGHO,QWHULRURUJiQLFD\IXQFLRQDOPHQWH
F2UJiQLFDPHQWHGHO0LQLVWHULRGHO,QWHULRU\IXQFLRQDOPHQWHGHOD&RPXQLGDG$XWyQR
PDDODTXHVHDGVFULEDQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QXQD&RPLVDUtDGH3ROLFtDHOHQFDUJDGRGHFXVWRGLDUHO/LEURGH$WHQFLyQ
DO&LXGDGDQRHQHOTXHVHUHFRJHQVXJHUHQFLDVTXHMDV\UHFODPDFLRQHVHV
D8QRGHORVIXQFLRQDULRVTXHHVWpGH*XDUGLD
E(O6HFUHWDULR*HQHUDOGHOD&RPLVDUtD
F(O-HIHGHOD2ILFLQDGH'HQXQFLDV
'LULJLU\FRRUGLQDUORVVHUYLFLRV\ORVyUJDQRVFHQWUDOHV\SHULIpULFRVGHO
&XHUSR1DFLRQDOGH3ROLFtDHVIXQFLyQGHO
D'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
8Q3ROLFtD1DFLRQDOTXHIRUPHSDUWHGHXQD8QLGDG$GVFULWDDXQD&RPXQL
GDG$XWyQRPDVHHQFXHQWUDHQVLWXDFLyQDGPLQLVWUDWLYDGH
D6HUYLFLRHQ&RPXQLGDGHV$XWyQRPDV
E6HUYLFLRDFWLYR
F6HUYLFLRVHVSHFLDOHV
/DHVWUXFWXUDRUJiQLFDIXQGDPHQWDOGHO&XHUSR1DFLRQDOGH3ROLFtDVHUH
FRJHHQHODUWtFXOR
DGHOD&RQVWLWXFLyQ
EGHOD/H\2UJiQLFDGHGHPDU]RGH)XHU]DV\&XHUSRVGH6HJXULGDG
PRGLILFDGDSRUOD/H\2UJiQLFDGHGHPD\R
FGHOD/H\2UJiQLFDGHGHPDU]RGH)XHU]DV\&XHUSRVGH6HJXULGDG
PRGLILFDGDSRUOD/H\2UJiQLFDGHGHPD\R
/DMXELODFLyQIRU]RVDHQHO&XHUSR1DFLRQDOGH3ROLFtD
D'HSHQGHGHODFDWHJRUtD\HVFDODDODTXHSHUWHQH]FDHOIXQFLRQDULR
E6HSURGXFHDORVVHVHQWDDxRV
F6HSURGXFHDORVVHVHQWD\FLQFRDxRV
(QTXp(VFDODVHVWiHVWUXFWXUDGRHO&XHUSR1DFLRQDOGH3ROLFtD"
D%iVLFD6XELQVSHFFLyQ(MHFXWLYD\6XSHULRU
E0DQGR,QVSHFFLyQ6XELQVSHFFLyQ\%iVLFD
F%iVLFD6XELQVSHFFLyQ(MHFXWLYD\7pFQLFD
(Q FXiQWDV (VFDODV \ &DWHJRUtDV HVWi HVWUXFWXUDGR HO &XHUSR 1DFLRQDO
GH3ROLFtD"
D(QFXDWUR(VFDODV\VLHWH&DWHJRUtDV
E(QFXDWUR(VFDODV\FLQFR&DWHJRUtDV
F(QFXDWUR(VFDODV\VHLV&DWHJRUtDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D(VFDOD%iVLFDGHO&XHUSR1DFLRQDOGH3ROLFtDFRPSUHQGHODVFDWHJRUtDVGH
D3ROLFtD\6XELQVSHFWRU
E3ROLFtD\2ILFLDOGH3ROLFtD
F6XERILFLDO\3ROLFtD
/RV PLHPEURV GHO &XHUSR 1DFLRQDO GH 3ROLFtD HQ VLWXDFLyQ GH 6HJXQGD
$FWLYLGDGVLQRFXSDUGHVWLQRHVWiQVRPHWLGRV
D$O5pJLPHQ*HQHUDO'LVFLSOLQDULRGHOD)XQFLyQ3~EOLFD
E$LGpQWLFRUpJLPHQGLVFLSOLQDULRTXHORVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtDTXH
HVWiQHQVHUYLFLRDFWLYR
F$OPLVPRUpJLPHQGLVFLSOLQDULRTXHORVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtDTXH
HVWiQHQ6HJXQGD$FWLYLGDGRFXSDQGRGHVWLQR
,QGLTXHHQTXp(VFDODHVWiVLWXDGDODFDWHJRUtDGH,QVSHFWRU-HIH
D(MHFXWLYD
E6XELQVSHFFLyQ
F0DQGR
&RUUHVSRQGHQDOD(VFDOD(MHFXWLYDODVUHVSRQVDELOLGDGHVGH
D'LUHFFLyQ
E$SR\RGHDFWLYLGDGHVHVSHFLDOL]DGDV
(OWLHPSRPi[LPRTXHXQIXQFLRQDULRSXHGHHVWDUHQODVLWXDFLyQDGPLQLV
WUDWLYDGHH[SHFWDWLYDGHGHVWLQRHV
D8QDxR
E6HLVPHVHV
F'RVDxRV
(ODVFHQVRDOD(VFDODGH6XELQVSHFFLyQUHTXLHUH
D3URPRFLyQLQWHUQDSDUDODVGRVFDWHJRUtDV
E$OD~QLFDFDWHJRUtDGHTXHFRQVWDSRUSURPRFLyQLQWHUQD
F8QDSDUWHGHSURPRFLyQLQWHUQD\RWUDGHRSRVLFLyQOLEUH
8Q2ILFLDOGH3ROLFtDDTXp(VFDODSHUWHQHFH"
D%iVLFD
E6XELQVSHFFLyQ
F(MHFXWLYD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDHODFFHVRDOD(VFDOD6XSHULRUVHUHTXLHUHODWLWXODFLyQGH
D,QJHQLHUR7pFQLFRR'LSORPDGR8QLYHUVLWDULR
E%DFKLOOHU6XSHULRU\&28
F'RFWRU/LFHQFLDGR,QJHQLHURRHTXLYDOHQWH
3DUDHODVFHQVRD2ILFLDOGH3ROLFtDVXSHUDGDVODVSUXHEDVSUHYLDVVHKD
GHUHDOL]DUXQFXUVRGH
D&DSDFLWDFLyQ
E(VSHFLDOL]DFLyQ
F$FWXDOL]DFLyQ
(O&XHUSR1DFLRQDOGH3ROLFtD
D1RDGPLWHPXMHUHVHQWUHVXVPLHPEURV
E$GPLWHPXMHUHVVyORSDUDGHWHUPLQDGDVIXQFLRQHV
F$GPLWHPXMHUHVHQSOHQDLJXDOGDGFRQORVKRPEUHV
8QIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDUHVXOWDHOHJLGR\HVQRP
EUDGR &RQFHMDO GHO $\XQWDPLHQWR GH OD ORFDOLGDG GH VX GRPLFLOLR &XiO VHUi VX
VLWXDFLyQDGPLQLVWUDWLYDHQHOH[SUHVDGR&XHUSRDSDUWLUGHODWRPDGHSRVHVLyQ"
D([FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODU
F([FHGHQFLDYROXQWDULDSRUSUHVWDFLyQGHVHUYLFLRVHQHOVHFWRUS~EOLFR
4XpUHTXLVLWRLQGLVSHQVDEOHKDGHFXPSOLUXQIXQFLRQDULRSDUDVHUDGVFUL
WRDIXQFLRQHVIDFXOWDWLYDVRWpFQLFDV"
D3DUWLFLSDUHQXQDQXHYDRSRVLFLyQOLEUH
E$SUREDUODVHOHFFLyQGHULYDGDGHODSURPRFLyQLQWHUQD
F3RVHHUODWLWXODFLyQUHTXHULGD
(QEDVHDOQXHYR5HDO'HFUHWRGHGHDEULOVREUHHO5pJLPHQ
'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDODVIDOWDVPX\JUDYHVSUHVFULEHQ
D$ORVQXHYHDxRV
E$ORVVHLVDxRV
F$ORVWUHVDxRV
/RV3ROLFtDVHQVLWXDFLyQGHH[SHFWDWLYDGHGHVWLQRHVWiQREOLJDGRVD
D$FHSWDUORVGHVWLQRVHQSXHVWRVGHFDUDFWHUtVWLFDVVLPLODUHVDORVTXHGHVHPSHxD
EDQTXHVHOHVRIUH]FDQHQODSURYLQFLDGRQGHHVWDEDQGHVWLQDGRV
E3DUWLFLSDUHQORVFRQFXUVRVSDUDODSURYLVLyQGHSXHVWRVDGHFXDGRVDVX&XHUSR(V
FDODR&DWHJRUtDTXHOHVHDQQRWLILFDGRVVLWXDGRVHQODSURYLQFLDGRQGHHVWDEDQGHVWLQDGRV
F7RGRORDQWHULRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8Q3ROLFtDHQFRPLVLyQGHVHUYLFLRGXUDQWHFLQFRPHVHVHVWiHQVLWXDFLyQ
DGPLQLVWUDWLYDGH
D([FHGHQFLDYROXQWDULDSRUVHUYLFLRVHQHOVHFWRUS~EOLFR
F6HUYLFLRDFWLYR
8QIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDTXHSUHVWDVHUYLFLRHQODV
&RUWHV*HQHUDOHVVHHQFXHQWUDHQODVLWXDFLyQDGPLQLVWUDWLYDGH
D6HUYLFLRDFWLYR
F([FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODU
6HJ~QHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDODSDUWLFL
SDFLyQHQKXHOJDVVHUiFDVWLJDGDFRPR
D)DOWDPX\JUDYH
E)DOWDJUDYH
F)DOWDOHYH
/DV8QLGDGHVGHO&XHUSR1DFLRQDOGH3ROLFtDDGVFULWDVDODV&RPXQLGDGHV
$XWyQRPDVGHSHQGHQRUJiQLFDPHQWHGHIRUPDGLUHFWDGH
D/D&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
E/D'LYLVLyQGH3HUVRQDO
'yQGHVHSXHGHSUHVHQWDUXQDGHQXQFLD"
D$QWHHO0LQLVWHULR)LVFDO\ORV7ULEXQDOHV
E$QWHHO-X]JDGRGH*XDUGLDOD3ROLFtD1DFLRQDOOD*XDUGLD&LYLOOD3ROLFtD$XWyQRPD
\OD3ROLFtD/RFDO
F$QWHOD$XGLHQFLD3URYLQFLDO
/DGLIHUHQFLDHQWUH8QLGDG2UJiQLFD\8QLGDG$GVFULWDUHVLGH
D(QTXHXQDVHVWiQIRUPDGDVSRUHO&XHUSR1DFLRQDOGH3ROLFtD\RWUDVSRUPLHPEURV
GHOD*XDUGLD&LYLO
E(QTXHXQDVGHSHQGHQGHORV-XHFHV\7ULEXQDOHV\RWUDVGHO0LQLVWHULR)LVFDO
F(QVXGHSHQGHQFLDRUJiQLFD\IXQFLRQDO
(OLQFXPSOLPLHQWRGHODVREOLJDFLRQHVHVSHFtILFDVGHXQ,QVSHFWRUGH3ROL
FtDLQKHUHQWHVDVXVLWXDFLyQGHH[SHFWDWLYDGHGHVWLQRGHWHUPLQDVXSDVHD
E([FHGHQFLDYROXQWDULDLQFHQWLYDGD
F([FHGHQFLDIRU]RVD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiQWRVDxRVFRPRPi[LPRVHSXHGHHVWDUHQH[FHGHQFLDSDUDHOFXL
GDGRGHXQKLMR"
D8QDxR
E7UHVDxRVGHVGHHOQDFLPLHQWR
F6HLVPHVHV
(OFRQWUROGHODVHQWLGDGHV\VHUYLFLRVSULYDGRVGHVHJXULGDGHVWiDFDUJR
D'HO&XHUSR1DFLRQDOGH3ROLFtD
E'HO&XHUSRGHOD*XDUGLD&LYLO
F'HOD3ROLFtD$XWyQRPD
/RV)DFXOWDWLYRV\7pFQLFRVGHO&XHUSR1DFLRQDOGH3ROLFtDUHDOL]DQIXQFLR
QHVGH
D6XSHUYLVLyQ
E0DQWHQLPLHQWRGHO&XHUSR
F&REHUWXUD\DSR\R
/DIDOWDGHSHWLFLyQGHUHLQJUHVRDOVHUYLFLRDFWLYRGHQWURGHOSOD]RFRQ
FHGLGRDXQ3ROLFtDHQH[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODUFRPSRUWDUiVX
SDVHD
D([FHGHQFLDIRU]RVD
E3pUGLGDGHODFRQGLFLyQGHIXQFLRQDULR
F6XVSHQVLyQGHIXQFLRQHV
(QFXDQWRDOGHYHQJRGHVXVKDEHUHVODVXVSHQVLyQSURYLVLRQDOGHXQIXQ
FLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDGDGHUHFKRDOFREURGH
D(OGHOVXHOGRWULHQLRV\SDJDVH[WUDRUGLQDULDV
EF(OGHOVXHOGRFRQGHFRUDFLRQHV\WULHQLRV
/DVXVSHQVLyQGHIXQFLRQHVWHQGUiFDUiFWHUILUPHFXDQGRVHLPSRQJD
D(QYLUWXGGHFRQGHQDFULPLQDO
E3RULQIUDFFLyQGLVFLSOLQDULD
/DVLWXDFLyQGH6HJXQGD$FWLYLGDGHVXQDVLWXDFLyQDGPLQLVWUDWLYD
D1RUPDOGHORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD
E(VSHFLDOGHORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD
F'HDSOLFDFLyQVyORDOD(VFDOD%iVLFDGHO&XHUSR1DFLRQDOGH3ROLFtD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&yPR VH DFFHGH D ODV SOD]DV GH )DFXOWDWLYRV \ 7pFQLFRV HQ HO &XHUSR
1DFLRQDOGH3ROLFtD"
D3RUOLEUHGHVLJQDFLyQ
E3RUFRQFXUVR
F3RUFRQFXUVRRSRVLFLyQ
/RVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtDSXHGHQ
D6LQGLFDUVHOLEUHPHQWH
E6LQGLFDUVHVyORDRUJDQL]DFLRQHVSURIHVLRQDOHVGHOSURSLR&XHUSR
F)RUPDUVLQGLFDWRV\IHGHUDUVHFRQRWURV
(O&XHUSR1DFLRQDOGH3ROLFtDUHDOL]DIXQFLRQHVGHGRVWLSRV
D'HLQIRUPDFLyQ\GHUHSUHVLyQ
E'H3ROLFtD-XGLFLDO\GHSURWHFFLyQ
F'H3ROLFtD-XGLFLDO\GH3ROLFtD$GPLQLVWUDWLYD
'HQWURGHO&XHUSR1DFLRQDOGH3ROLFtDDTXLpQFRUUHVSRQGHODIXQFLyQGH
DSR\RGLUHFFLyQRHMHFXFLyQGHDFWLYLGDGHVLQVWUXPHQWDOHVHVSHFLDOL]DGDV"
D$OSHUVRQDO)DFXOWDWLYR\7pFQLFR
E$OD(VFDOD(MHFXWLYD
F$OD(VFDOD6XSHULRU
'HHQWUHODVVLJXLHQWHVFXiOQRHVIXQFLyQHVSHFtILFDGHO&XHUSR1DFLR
QDOGH3ROLFtD"
D(OPDQWHQLPLHQWRGHODVHJXULGDG\HORUGHQS~EOLFR
E/DH[SHGLFLyQGHO'RFXPHQWR1DFLRQDOGH,GHQWLGDG\ORV3DVDSRUWHV
F(OFRQWUROGHHQWUDGD\VDOLGDGH(VSDxDGHORVHVSDxROHV\H[WUDQMHURV
&XiOGHORVVLJXLHQWHVGHUHFKRVSXHGHQHMHUFHUORVPLHPEURVGHO&XHUSR
1DFLRQDOGH3ROLFtD"
D$ILOLDUVHDFXDOTXLHUWLSRGHVLQGLFDWR
E(OGHUHFKRGHKXHOJD
F(OGHUHFKRGHPDQLIHVWDFLyQ
4XLpQSXHGHVDQFLRQDUFRQDSHUFLELPLHQWRDXQIXQFLRQDULRGHO&XHUSR
1DFLRQDOGH3ROLFtDHQ6HJXQGD$FWLYLGDGFRQGHVWLQR"
D/RV-HIHVGHODV&RPLVDUtDV3URYLQFLDOHV
E(O-HIHGHOD8QLGDG$GVFULWD
F/RV-HIHVGHODV%ULJDGDVUHVSHFWLYDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVHVSHFLDOHVFDUDFWHUtVWLFDVGHO&XHUSR1DFLRQDOGH3ROLFtDFRPR&XHU
SRMHUiUTXLFR\GLVFLSOLQDGR
D6RQQHFHVDULDVSDUDPDQWHQHUODDXWRULGDGGHORV0DQGRV
E6RQQHFHVDULDVSDUDVXIXQFLRQDPLHQWR\HOGHVDUUROORGHORVVHUYLFLRV
F6RQFRQVHFXHQFLDGHXQDHVWUXFWXUDDQWHULRUTXHWLHQGHDGHVDSDUHFHU
([LVWHDOJ~QFDVRHQHOTXHHODVFHQVRGHXQDHVFDODRFDWHJRUtDDRWUD
VXSHULRUQRVXSRQJDODUHDOL]DFLyQGHOFRUUHVSRQGLHQWHFXUVR"
D(OGH&RPLVDULRD&RPLVDULR3ULQFLSDO
E(OGH,QVSHFWRUD,QVSHFWRU-HIH
&XiO GH ODV VLJXLHQWHV QR HV XQD VLWXDFLyQ DGPLQLVWUDWLYD SURSLDPHQWH
GLFKD"
D([SHFWDWLYDGHGHVWLQR
E-XELODFLyQDQWLFLSDGD
F([FHGHQFLDIRU]RVD
/DVUHWULEXFLRQHVFRPSOHPHQWDULDVTXHWLHQHQGHUHFKRDSHUFLELUORVIXQ
FLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtDVRQ
D&RPSOHPHQWRGHGHVWLQRFRUUHVSRQGLHQWHDOSXHVWRGHWUDEDMRTXHGHVHPSHxHQ\
JUDGRSURIHVLRQDODGTXLULGRSRUGHVHPSHxRGHXQRRPiVSXHVWRVGHOQLYHOFRUUHVSRQGLHQWH
GXUDQWHGRVDxRVFRQWLQXDGRVRWUHVFRQLQWHUUXSFLyQDVtFRPRHOFRPSOHPHQWRHVSHFtILFR
FRQFRPSRQHQWHVJHQHUDO\VLQJXODU
E&RPSOHPHQWRGHSURGXFWLYLGDG\JUDWLILFDFLRQHVSRUVHUYLFLRVH[WUDRUGLQDULRV
F$WRGRVORVFRPSOHPHQWRVDQWHULRUHV
'HQWUR GH ODV GLIHUHQWHV VLWXDFLRQHV DGPLQLVWUDWLYDV HQ ODV TXH SXHGH
KDOODUVHXQIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDVHxDOHDTXHOODHQODTXHVH
HQFRQWUDUtDVLIXHVHHOHJLGR'LSXWDGRGHODV&RUWHV*HQHUDOHV
D6HUYLFLRVHVSHFLDOHV
E6HUYLFLRDFWLYRHQODV&RUWHV*HQHUDOHV
F6HUYLFLRDFWLYR
$OD(VFDOD(MHFXWLYDGHO&XHUSR1DFLRQDOGH3ROLFtDVHDFFHGH
D3RUFRQFXUVROLEUH
E3RURSRVLFLyQDODVGRVFDWHJRUtDV
F3RURSRVLFLyQRSURPRFLyQLQWHUQDSDUDODFDWHJRUtDLQIHULRU\SRUSURPRFLyQLQWHUQD
DODFDWHJRUtDVXSHULRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O5pJLPHQ'LVFLSOLQDULRGHORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD
VHH[LJHVHJ~Q
D(O&yGLJRGH-XVWLFLD0LOLWDU
E8Q5HJODPHQWR'LVFLSOLQDULRSURSLR
F(O5HJODPHQWRGHORV)XQFLRQDULRV&LYLOHVGHOD$GPLQLVWUDFLyQGHO(VWDGR
/DVIDOWDVGLVFLSOLQDULDVPX\JUDYHVHQTXHSXHGHQLQFXUULUORVPLHPEURV
GHO&XHUSR1DFLRQDOGH3ROLFtDHVWiQWLSLILFDGDV
D QLFDPHQWH HQ HO 5HJODPHQWR GH 5pJLPHQ 'LVFLSOLQDULR GHO &XHUSR 1DFLRQDO GH
3ROLFtD
EQLFDPHQWHHQOD/H\2UJiQLFDGHGHPDU]RGH)XHU]DV\&XHUSRVGH
6HJXULGDG
F(QOD/H\2UJiQLFDGHGHPD\RGHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR
1DFLRQDOGH3ROLFtDTXHGHURJDWRGRORDQWHULRUHQHVWDPDWHULD
(OSHUtRGRGHH[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODUFRQFHGLGDDXQ
&RPLVDULRGHO&XHUSR1DFLRQDOGH3ROLFtDQRSXHGHVHULQIHULRUD
D8QDxR
E'RVDxRV
F7UHVDxRV
6HJ~QHO5HJODPHQWR'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDUHDOL]DU
IXQFLRQHVTXHLQFXPSODQODVQRUPDVVREUHLQFRPSDWLELOLGDGHVFXDQGRHOORGpOXJDU
DXQDVLWXDFLyQGHLQFRPSDWLELOLGDGTXpWLSRGHIDOWDHV"
D0X\JUDYH
E*UDYH
F/HYH
(OFULWHULRTXHVHUiWHQLGRHQFXHQWDFRQFDUiFWHUJHQHUDOSDUDODJUDGXD
FLyQGHVDQFLRQHVHQHO&XHUSR1DFLRQDOGH3ROLFtDHV
D(OGHVXJUDGRGHDIHFWDFLyQDORVSULQFLSLRVGHGLVFLSOLQDMHUDUTXtD\VXERUGLQDFLyQ
E(OGHVXLQFLGHQFLDVREUHODVHJXULGDGFLXGDGDQD
(QHO&XHUSR1DFLRQDOGH3ROLFtDHOQRSUHVWDUVHUYLFLRDOHJDQGRVXSXHVWD
HQIHUPHGDGVHFDWDORJDFRPRIDOWD
D0X\JUDYH
E*UDYH
F0HQRVJUDYH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q HO 5pJLPHQ 'LVFLSOLQDULR GHO &XHUSR 1DFLRQDO GH 3ROLFtD HO VROLFLWDU
\REWHQHUFDPELRVGHGHVWLQRPHGLDQGRFXDOTXLHUUHFRPSHQVDiQLPRGHOXFURR
IDOVHDQGRODVFRQGLFLRQHVTXHORVUHJXODQHVIDOWD
D0X\JUDYH
E*UDYH
F/HYH
/DH[FHGHQFLDYROXQWDULDSRUDJUXSDFLyQIDPLOLDUWHQGUiXQDGXUDFLyQPt
QLPDGH
D'RVDxRV
E7UHVDxRV
F&XDWURDxRV
4Xp IDOWDV FRPHWLGDV SRU ORV PLHPEURV GHO &XHUSR 1DFLRQDOGH 3ROLFtD
SUHVFULEHQDORVWUHVDxRV"
D*UDYHV
E0X\JUDYHV
F/HYHV
7LHQHQGHUHFKRDODKXHOJDORVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtD"
D1RHQQLQJ~QFDVR
E6tSHURVyORDODKXHOJDGHFHOR
F6tFRQSUHYLRDYLVRGHGLH]GtDV
4XpVDQFLyQSXHGHLPSRQHUVHDORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH
3ROLFtDSRUIDOWDOHYHFRQDUUHJORDVX5HJODPHQWRGH5pJLPHQ'LVFLSOLQDULR"
D(ODSHUFLELPLHQWR
E6XVSHQVLyQGHIXQFLRQHVGHXQRDFXDWURGtDV
F/DVUHVSXHVWDVD\EVRQSRVLEOHV
/DUHVSRQVDELOLGDGGLVFLSOLQDULDGHORVPLHPEURVGHO&XHUSR1DFLRQDOGH
3ROLFtDVHH[WLQJXHSRU
D&XPSOLPLHQWRGHODVDQFLyQ
E3RUSUHVFULSFLyQGHODIDOWD
(QHO&XHUSR1DFLRQDOGH3ROLFtDODVIDOWDVOHYHVSUHVFULEHQ
D$ORVFXDWURPHVHV
E$ORVVHLVPHVHV
F$OPHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$XQ3ROLFtD1DFLRQDOTXHDVLVWDGHXQLIRUPHDXQDPDQLIHVWDFLyQUHLYLQGL
FDWLYDSURIHVLRQDOTXpWLSRGHIDOWDGLVFLSOLQDULDVHOHSXHGHLPSRQHU"
D/HYH
E*UDYH
F0X\JUDYH
/DUHVROXFLyQGHILQLWLYDGHXQH[SHGLHQWHGLVFLSOLQDULRVHSURGXFLUiFXDQ
GRKDELHQGRWHQLGROD$XWRULGDG-XGLFLDOFRQRFLPLHQWRGHORVKHFKRV
D/DVHQWHQFLDMXGLFLDOUHFDtGDVHDILUPH
E6HGLFWHVHQWHQFLD
F6HFRQFOX\DHOH[SHGLHQWHSRUOD$XWRULGDG*XEHUQDWLYD
(O,QVWUXFWRUGHXQH[SHGLHQWHKDGHVHUUHVSHFWRDOH[SHGLHQWDGR
D6LHPSUHGHVXSHULRUFDWHJRUtD
E3RUORPHQRVGHODPLVPDFDWHJRUtDVLQPiVUHTXLVLWRV
F3RUORPHQRVGHODPLVPDFDWHJRUtDSHURPiVDQWLJXR
/RVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGVHVXMHWDQDODMX
ULVGLFFLyQ
D0LOLWDU
E'H+RQRU
F2UGLQDULD
7UDV VHUOH FRPXQLFDGR DO H[SHGLHQWDGR HO SOLHJR GH FDUJRV FXiQWRV
GtDVWLHQHpVWHSDUDKDFHUODVDOHJDFLRQHVTXHFRQVLGHUHSDUDVXGHIHQVD"
D'LH]GtDV
E4XLQFHGtDV
F9HLQWHGtDV
(O WLHPSR GH VXVSHQVLyQ SURYLVLRQDO FRPR FRQVHFXHQFLD GH H[SHGLHQWH
GLVFLSOLQDULRVDOYRHQFDVRGHSDUDOL]DFLyQGHOPLVPRSRUFDXVDLPSXWDEOHDOLQWH
UHVDGRQRSRGUiH[FHGHUGH
D'RVPHVHV
E6HLVPHVHV
F&XDWURPHVHV
(QODV'HSHQGHQFLDVSROLFLDOHVTXpQ~PHURGHIXQFLRQDULRVHVHOPtQLPR
QHFHVDULRSDUDTXHXQDRUJDQL]DFLyQVLQGLFDOGHO&XHUSR1DFLRQDOGH3ROLFtDWHQJD
GHUHFKRDTXHVHOHIDFLOLWHXQORFDODGHFXDGRSDUDHOHMHUFLFLRGHVXVDFWLYLGDGHV"
D0iVGH
E
F3RUORPHQRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DLPSRVLFLyQGHODVDQFLyQGHVHSDUDFLyQGHOVHUYLFLRSRUIDOWDVPX\JUD
YHVHVFRPSHWHQFLDGHO
D'LUHFWRU*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
/DLPSRVLFLyQGHODVDQFLyQGHVXVSHQVLyQGHIXQFLRQHVSRUWUHVDxRV\XQ
GtDDVHLVDxRVSRUIDOWDVPX\JUDYHVDXQIXQFLRQDULRSROLFLDOFRPSHWH
(QHOiPELWRGHO&XHUSR1DFLRQDOGH3ROLFtDODVXVSHQVLyQSURYLVLRQDOGH
IXQFLRQHVSRGUtDDFRUGDUVHSUHYHQWLYDPHQWHSRU
D/RV-HIHV6XSHULRUHVGH3ROLFtD
E(O'LUHFWRU$GMXQWR2SHUDWLYR\ORV&RPLVDULRV*HQHUDOHV
(QHO5HJODPHQWRGH5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtD
DOFDERGHFXiQWRWLHPSRVHSXHGHQFDQFHODUODVIDOWDVOHYHV"
D$ORVVHLVPHVHV
E$ORVGRVPHVHV
F$ODxR
(QHO&XHUSR1DFLRQDOGH3ROLFtDTXLpQSXHGHLPSRQHUXQDVDQFLyQSRU
IDOWDOHYH"
E&XDOTXLHU&RPLVDULR
F/RV-HIHVGH%ULJDGD
/DV VDQFLRQHV JUDYHV XQD YH] FXPSOLGDV SRGUiQ FDQFHODUVH WUDQVFXUUL
GRV
D'RVDxRV
E7UHVDxRV
F&XDWURDxRV
4XpHQWHQGHPRVSRULQFRDFLyQGHXQH[SHGLHQWH"
D(OSURFHVDPLHQWR
E/DDSHUWXUDGHOPLVPR
F/DVGLOLJHQFLDVGHLQYHVWLJDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$SHWLFLyQGHO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOODHPLVLyQ
GHLQIRUPHVVREUHODGHWHUPLQDFLyQGHFULWHULRVEiVLFRVSDUDODDSOLFDFLyQGHOUpJL
PHQGHVHOHFFLyQIRUPDFLyQ\SURPRFLyQGHOSHUVRQDOFRUUHVSRQGH
D$OD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
E$OD'LUHFFLyQGHOD(VFXHODGH3ROLFtDGHYLOD
F$OD-XQWDGH*RELHUQRGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
1RHVXQDFRPSHWHQFLDHVSHFtILFDGHO&XHUSR1DFLRQDOGH3ROLFtD
D/DH[SHGLFLyQGHSDVDSRUWHV\GRFXPHQWRVQDFLRQDOHVGHLGHQWLGDG
E/DFRODERUDFLyQ\DX[LOLRFRQODVSROLFtDVGHRWURVSDtVHV
F9HODUSRUHOFXPSOLPLHQWRGHODVGLVSRVLFLRQHVVREUHQDWXUDOH]D\PHGLRDPELHQWH
'HODVVLJXLHQWHVUHVSXHVWDVXQDFRQWLHQHXQDIXQFLyQSURSLDGHO&XHUSR
1DFLRQDOGH3ROLFtDVHxiOHOD
D0DWHULDVREUHGURJDV
E5HVJXDUGRILVFDOGHO(VWDGR
F$UPDV\H[SORVLYRV
6HxDOHODFLXGDGTXHQRVHDVHGHGHXQD-HIDWXUD6XSHULRUGH3ROLFtD
D6HYLOOD
E0iODJD
F7ROHGR
4XpUDQJRRVWHQWDQODV&RPLVDUtDV*HQHUDOHV\ODV'LYLVLRQHV"
D6XEGLUHFFLRQHV*HQHUDOHV
E7RGDV&RPLVDUtDV*HQHUDOHV
F6XEVHFUHWDUtDV
4XLpQHMHUFHHOPDQGRGLUHFFLyQFRRUGLQDFLyQ\FRQWUROHQODVIXQFLR
QHVTXHGHVDUUROODQODV8QLGDGHVGH3ROLFtD1DFLRQDODGVFULWDVDXQD&RPXQLGDG
$XWyQRPD"
D(O'HOHJDGRGHO*RELHUQRHQGLFKD&RPXQLGDG$XWyQRPD
E6XV-HIHVQDWXUDOHV
(QOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQDGHTXLpQGHSHQGHOD
&RPLVDUtD(VSHFLDOGHO'HIHQVRUGHO3XHEOR"
D'HOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
E'HOD8QLGDG&HQWUDOGH3URWHFFLyQGHOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD
F'HOD-HIDWXUDGH&RRUGLQDFLyQ\$SR\R7pFQLFRGHOD&RPLVDUtD*HQHUDOGH6HJXUL
GDG&LXGDGDQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QTXp'LYLVLyQGHO&XHUSR1DFLRQDOGH3ROLFtDVHHQFXHQWUDVLWXDGRHO
6HUYLFLRGH$UPDPHQWR$TXLSDPLHQWR3ROLFLDO"
D(QODGH3HUVRQDO
E(QODGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
F(QODGH&RRUGLQDFLyQ(FRQyPLFD\7pFQLFD
/D8QLGDG&HQWUDOFRQWUDODV5HGHVGH,QPLJUDFLyQ$DOVHGDGHV'RFXPHQ
WDOHVVHLQWHJUDHQOD&RPLVDUtD*HQHUDOGH
D3ROLFtD-XGLFLDO
E6HJXULGDG&LXGDGDQD
(QOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQDOD%ULJDGD2SHUDWLYDGHO
0XVHRGHO3UDGRGHSHQGH
D'HOD8QLGDG&HQWUDOGH3URWHFFLyQ
E'HOD-HIDWXUDGH8QLGDGHV(VSHFLDOHV
F'LUHFWDPHQWHGHO&RPLVDULR*HQHUDOGH6HJXULGDG&LXGDGDQD
&XiQWDV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDOGHO&XHUSR1DFLRQDOGH3ROLFtD
KD\HQODDFWXDOLGDG"
D'LH]
E2QFH
F'RFH
(OUHDGH5HWULEXFLRQHVVHHQFXDGUDGHQWURGHOD'LYLVLyQGH
D3HUVRQDO
E)RUPDFLyQ\3HUIHFFLRQDPLHQWR
F&RRUGLQDFLyQ(FRQyPLFD\7pFQLFD
/D8QLGDGGH$VXQWRV,QWHUQRVGHSHQGH
D'HOD6HFUHWDUtDGH(VWDGR
E'HOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHO&XHUSR1DFLRQDOGH3ROLFtD
F'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
'HTXLpQHVFRPSHWHQFLDH[FOXVLYDODVHJXULGDGS~EOLFD"
D'HODV)XHU]DV\&XHUSRVGH6HJXULGDG
E'HO(VWDGR
F'HO*RELHUQRGHOD1DFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DDSUREDFLyQGHORVSODQHVGHFRRUGLQDFLyQHQPDWHULDGHVHJXULGDG\GH
LQIUDHVWUXFWXUDSROLFLDOHVFRPSHWHQFLDGH
D(O&RQVHMRGH3ROtWLFDGH6HJXULGDG
E/D-XQWDGH6HJXULGDG
F(O&RQVHMR1DFLRQDOGH6HJXULGDG
$ODFDWHJRUtDVXSHULRUGHOD(VFDOD%iVLFDVHDFFHGHSRU
D&RQFXUVRGHPpULWRV
E2SRVLFLyQ
F3URPRFLyQLQWHUQD
/D3ROLFtD(VWDWDO\ODGHOD*HQHUDOLGDGGH&DWDOXxDVRQFRRUGLQDGDVSRU
E/D*HQHUDOLGDGGH&DWDOXxD
F/D-XQWDGH6HJXULGDG
,QGLTXH FXiO GH HQWUH ORV VLJXLHQWHV FRQVWLWX\H XQ 3ULQFLSLR %iVLFR GH
$FWXDFLyQGHORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D0DQWHQHU\UHVWDEOHFHUHQVXFDVRHORUGHQ\ODVHJXULGDGFLXGDGDQD
E&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOHFLGRV
HQODOH\
F$X[LOLDU\SURWHJHUDODVSHUVRQDV\DVHJXUDUODFRQVHUYDFLyQ\FXVWRGLDGHORVELHQHV
TXHVHHQFXHQWUHQHQVLWXDFLyQGHSHOLJURSRUFXDOTXLHUFDXVD
3XHGHQ DFWXDU VLPXOWiQHDPHQWH HQ XQ PLVPR WHUULWRULR ODV )XHU]DV \
&XHUSRVGH6HJXULGDGGHO(VWDGRODV3ROLFtDV/RFDOHV\ODV$XWRQyPLFDV"
D1RVLDFW~DQODVGHO(VWDGRODVRWUDVGHEHQDEVWHQHUVHGHKDFHUOR
E6tSHUREDMRHOPDQGRGHPiVFDWHJRUtD
F6tSHURFDGDXQRHQODHVIHUDGHVXFRPSHWHQFLD\GHIRUPDFRRUGLQDGD
/RV9LJLODQWHVGH6HJXULGDGVHJ~QOD/H\2UJiQLFDGH)XHU]DV\
&XHUSRVGH6HJXULGDG
D)RUPDQSDUWHGHOD3ROLFtD/RFDO
E'HSHQGHQGHOD3ROLFtD$XWyQRPD
F6RQSULYDGRV\DMHQRVDHVWDV)XHU]DV
D3URYLQFLDO
E,QVXODU
F7HUULWRULDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
9HODUSRUODSURWHFFLyQ\VHJXULGDGGHODVDOWDVSHUVRQDOLGDGHVGHO(VWDGR
HVIXQFLyQ
D([FOXVLYDGHO&XHUSR1DFLRQDOGH3ROLFtD
E([FOXVLYDGHO&XHUSRGHOD*XDUGLD&LYLO
F&RP~QDDPERV&XHUSRV
'HHQWUHODVVLJXLHQWHVVHxDOHODTXHQRVHDFRPSHWHQFLDGHO&XHUSR1D
FLRQDOGH3ROLFtD
D/DLQYHVWLJDFLyQ\SHUVHFXFLyQGHORVGHOLWRVUHODFLRQDGRVFRQODGURJD
E/RUHIHUHQWHDH[WUDQMHUtDUHIXJLR\DVLORH[WUDGLFLyQH[SXOVLyQHPLJUDFLyQHLQPL
JUDFLyQ
F/DFRQGXFFLyQLQWHUXUEDQDGHSUHVRV\GHWHQLGRV
/DVOLEHUWDGHVGHLQIRUPDFLyQ\H[SUHVLyQHQFXHQWUDQHQWUHRWURVOtPLWHV
HVSHFLDOHVHQ
D(OVHFUHWRGHODVFRPXQLFDFLRQHV
E/DSURWHFFLyQGHODMXYHQWXG\ODLQIDQFLD
F/DFRQFLHQFLDLQGLYLGXDO
/D3ROLFtDGHEHFRQVLGHUDUVHFRPR
D8QVHUYLFLRS~EOLFRSDUDODSURWHFFLyQGHOD&RPXQLGDG
E/DJDUDQWtDGHORUGHQLQWHUQRGHOSDtV
F(OUHVSDOGRGHOSRGHUHMHFXWLYR
6LGHXQGRFXPHQWRGHEHHQWHQGHUOD3ROLFtDSRUVHUGHVXFRPSHWHQFLD
DOVHUSUHVHQWDGRSRUXQFLXGDGDQRHQXQDGHSHQGHQFLDGHOD*XDUGLD&LYLOpVWD
D/RUHFKD]DUiHLQGLFDUiDOLQWHUHVDGRTXHORSUHVHQWHHQXQD&RPLVDUtDGH3ROLFtD
E/RGHEHUiDGPLWLU\FXUVDUOROXHJRDOD3ROLFtD
F/RDGPLWLUiVLORGHVHDSHURQRWLHQHREOLJDFLyQGHKDFHUOR
(O6HFUHWDULRGH(VWDGRGH6HJXULGDGGHSHQGHGLUHFWDPHQWH
'yQGHFRUUHVSRQGHDO&XHUSR1DFLRQDOGH3ROLFtDHMHUFLWDUVXVIXQFLRQHV"
D(QODVFDSLWDOHVGHSURYLQFLDVHQORVWpUPLQRVPXQLFLSDOHV\Q~FOHRVXUEDQRVTXHHO
*RELHUQRGHWHUPLQH
E(QWRGRHOWHUULWRULRQDFLRQDO
F6RODPHQWHHQODVFDSLWDOHVGHSURYLQFLDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$TXLpQFRUUHVSRQGHODUHVSRQVDELOLGDGGHODVUHODFLRQHVGHFRODERUDFLyQ
\DX[LOLRFRQODV$XWRULGDGHVSROLFLDOHVGHRWURVSDtVHVFRQIRUPHDORHVWDEOHFLGR
HQ7UDWDGRV\$FXHUGRV,QWHUQDFLRQDOHV"
E$O-HIHGHOD2ILFLQDGH,QWHUSRO
F$OUHSUHVHQWDQWHSROLFLDOHQHO0LQLVWHULRGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
'yQGHKDQGHFXPSOLUODSULVLyQSUHYHQWLYDHQVXFDVRORVPLHPEURVGHO
&XHUSR1DFLRQDOGH3ROLFtD"
D(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVHVSHFLDOHV
E(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVPLOLWDUHVSRUVXFDUiFWHUGH$JHQWHVGHOD$XWR
ULGDG
F(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVRUGLQDULRVSHURVHSDUDGRVGHORVGHPiVSUHVRV
&XDQGR XQ IXQFLRQDULR GHO &XHUSR 1DFLRQDO GH 3ROLFtD VHD HO VXSXHVWR
DXWRUGHXQDIDOWDSUHYLVWDHQHO&yGLJRSHQDOHVFRPSHWHQWHSDUDODLQVWUXFFLyQ\
IDOORGHOFDVR
D(O-XH]'HFDQR
E(O-XH]GH,QVWUXFFLyQ
F/D$XGLHQFLD3URYLQFLDO
/RVSXHVWRVGHVHUYLFLRHQODVUHVSHFWLYDVFDWHJRUtDVGHO&XHUSR1DFLRQDO
GH3ROLFtDVHSURYHHUiQ
D3RUSURPRFLyQLQWHUQD
E3RUFRQFXUVRRSRVLFLyQ
F&RQIRUPHDORVSULQFLSLRVGHPpULWRFDSDFLGDG\DQWLJHGDG
(OLQJUHVRHQHO&XHUSR1DFLRQDOGH3ROLFtDVHOOHYDUiDFDERFRQIRUPHD
ORVSULQFLSLRVGH
D2EMHWLYLGDGLJXDOGDGGHRSRUWXQLGDGHVPpULWR\FDSDFLGDG
E2EMHWLYLGDGPpULWR\FDSDFLGDG
F$QWLJHGDGPpULWR\FDSDFLGDG
8QDYH]DGRSWDGDOD5HVROXFLyQGHOH[SHGLHQWHTXHSRQJDILQDOSURFHGL
PLHQWR\DSDUWLUGHHVDIHFKDGHQWURGHFXiQWRVGtDVVHUiFRPXQLFDGDDOLQWH
UHVDGR"
D'LH]GtDV
E4XLQFHGtDV
F9HLQWHGtDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HHQWUHODVVLJXLHQWHVIDOWDVVHxDOHFXiOGHHOODVVHFRQVLGHUDPX\JUDYH
D(ODFRVRVH[XDO\HODFRVRODERUDO
E(OUHWUDVRRODQHJOLJHQFLDHQHOFXPSOLPLHQWRGHODVIXQFLRQHV\yUGHQHVUHFLELGDV
F/DLQIUDFFLyQGHODVQRUPDVGHSUHYHQFLyQGHULHVJRVODERUDOHVTXHSRQJDQHQJUDYH
ULHVJRODYLGDVDOXGRLQWHJULGDGItVLFDSURSLDRGHVXVFRPSDxHURVRVXERUGLQDGRV
'HTXpWLHPSRQRSXHGHH[FHGHUODVXVSHQVLyQSURYLVLRQDOGHIXQFLRQHVLP
SXHVWDDXQIXQFLRQDULRFRPRPHGLGDFDXWHODUHQODWUDPLWDFLyQGHXQH[SHGLHQWHGLV
FLSOLQDULRVDOYRHQFDVRGHSDUDOL]DFLyQGHOSURFHGLPLHQWRLPSXWDEOHDOLQWHUHVDGR"
D&LQFRPHVHV
E6HLVPHVHV
F6HLVDxRV
'HORVVLJXLHQWHVyUJDQRVFXiOGHHOORVQRGHSHQGHGHOD'LUHFFLyQ$G
MXQWD2SHUDWLYD"
D(O*UXSR(VSHFLDOGH2SHUDFLRQHV*(2
E/D8QLGDGGH$VXQWRV,QWHUQRV
F/D8QLGDGGH&RRSHUDFLyQ,QWHUQDFLRQDO
&XiOGHODVVLJXLHQWHV&RPLVDUtDV(VSHFLDOHVQRSHUWHQHFHDOD8QLGDG
&HQWUDOGH3URWHFFLyQGHOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD"
D/D&RPLVDUtD(VSHFLDOGHO7ULEXQDO&RQVWLWXFLRQDO
E/D&RPLVDUtD(VSHFLDOGHO&RQJUHVRGHORV'LSXWDGRV
F/D&RPLVDUtD(VSHFLDOGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO\GHO7ULEXQDO6XSUHPR
8QIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDMXELODGRSRUTXp5HJOD
PHQWR'LVFLSOLQDULRVHULJH"
D3RUHO5HJODPHQWR'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDDSUREDGRSRU5HDO
'HFUHWR
E3RUHO5HJODPHQWR'LVFLSOLQDULRGHOD)XQFLyQ3~EOLFD
F3RUQLQJXQR
'HHQWUHODVVLJXLHQWHVVDQFLRQHVTXHFRQWHPSODHO5HJODPHQWR'LVFLSOL
QDULRGHO&XHUSR1DFLRQDOGH3ROLFtDVHxDOHODTXHFRUUHVSRQGDDXQDIDOWDJUDYH
D6XVSHQVLyQGHIXQFLRQHVGHFLQFRGtDVDWUHVPHVHV
E'HXQRDFXDWURGtDVGHVXVSHQVLyQGHVXHOGR
F7UDVODGRFRQFDPELRGHUHVLGHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3DUDTXHXQIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDSXHGDVROLFLWDUHO
SDVHDH[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODUHVSUHFLVRTXHKD\DQWUDQVFX
UULGR FLHUWR Q~PHUR GH DxRV GH VHUYLFLRV HIHFWLYRV LQPHGLDWDPHQWH DQWHULRUHV D
GLFKDSHWLFLyQ,QGLFDUTXpQ~PHURGHDxRVVRQHVWRV
D'RV
E7UHV
F&LQFR
3HUWHQHFHQDOD&RPLVDUtD*HQHUDOGH,QIRUPDFLyQ
D/D-HIDWXUDGH8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO
E/RV*UXSRVGH'HVDFWLYDFLyQGH([SORVLYRV
F/DV8QLGDGHVGH&DEDOOHUtD
(QHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDODVXVSHQVLyQ
GHHPSOHR\VXHOGRGHXQRDFXDWURGtDVVHSXHGHLPSRQHUSRUIDOWD
D/HYH
E*UDYH
F1RH[LVWHHVHWLSRGHVDQFLyQ
'HQWURGHOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQDTXLpQVHHQFDU
JDGHODSURWHFFLyQ\D\XGDDODIDPLOLD"
D/D83$3
E(O6HFUHWDULR*HQHUDOGHGLFKD&RPLVDUtD
F(O-HIHGH5HODFLRQHV&LXGDGDQDV
/RVIXQFLRQDULRVTXHUHQXQFLHQDVXSXHVWRGHWUDEDMR
D3XHGHQYROYHUDOD$GPLQLVWUDFLyQVLHPSUHTXHVXSHUHQGHQXHYRORVSURFHVRVGH
VHOHFFLyQHQYLJRU
E1RSXHGHQVHUGHQXHYRIXQFLRQDULRVHQQLQJ~QFDVR
F6HOHVH[LPHGHORVHMHUFLFLRVSUiFWLFRVHQORVH[iPHQHV

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E(QOD8QLGDG&HQWUDOGH3DUWLFLSDFLyQ&LXGDGDQD\3URJUDPDVGHOD&RPLVDUtD
*HQHUDOGH6HJXULGDG&LXGDGDQD
E /D 8QLGDG GH 'RFXPHQWDFLyQ GH (VSDxROHV GHSHQGLHQWH GH OD 6XEGLUHFFLyQ
*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
F)DOWDOHYH
D/RVTXHHVWpQHQVLWXDFLyQGHH[FHGHQFLDIRU]RVDFRPRFRQVHFXHQFLDGHOD
DSOLFDFLyQGHXQ3ODQGH(PSOHR
F(QODGH&RRUGLQDFLyQ2SHUDWLYD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/D8QLGDGGH&RRUGLQDFLyQ,QWHUQDFLRQDO
D8QLGDG&HQWUDOGH'HOLQFXHQFLD(FRQyPLFD\)LVFDO
F/D%ULJDGD&HQWUDOGH'HOLQFXHQFLD(FRQyPLFD\)LVFDO
E(O-HIHGHOD8QLGDGGH&RRUGLQDFLyQ2SHUDWLYD7HUULWRULDO
F'HO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOGLUHFWDPHQWH
D6HJXULGDG&LXGDGDQD
F'HODUHVSHFWLYD-HIDWXUD6XSHULRUR&RPLVDUtD3URYLQFLDOGRQGHWHQJDQVXVHGH
F1LQJXQD
D'LUHFFLyQ$GMXQWD2SHUDWLYD
D'HOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
F&LQFR
F6RQ8QLGDGHVGHODFWXDO&XHUSR1DFLRQDOGH3ROLFtD
F/DLQYHVWLJDFLyQ\SHUVHFXFLyQGHODVDFWLYLGDGHVGHOLFWLYDVUHODFLRQDGDVFRQHO
FULPHQRUJDQL]DGR
F 6RQ yUJDQRV GH FREHUWXUD DSR\R JHVWLyQ \ DGPLQLVWUDFLyQ HQ HO iPELWR GHO
D(O'LUHFWRU$GMXQWR2SHUDWLYR
F9HLQWH
D6HFUHWDULRGH(VWDGRGH6HJXULGDG
F-HIDWXUD6XSHULRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F-HIDWXUD6XSHULRU
D'H'LVWULWR
F/DV&RPLVDUtDV3URYLQFLDOHVVRQRUJDQLVPRVFHQWUDOHVPLHQWUDVTXHODV&RPL
VDUtDV=RQDOHVVRQWHUULWRULDOHV
E=RQDOHV
D8QyUJDQRFROHJLDGRFHQWUDOGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD
&LYLO
D'LHFLVpLV
E/DV&RPLVDUtDV&RQMXQWDVR0L[WDV
D3~EOLFR
E/D$GPLQLVWUDFLyQ&HQWUDO
F(O-HIHGHOD8QLGDGGH&RRUGLQDFLyQ2SHUDWLYD7HUULWRULDO
E3ROLFtD-XGLFLDO
F/RV*UXSRV(VSHFLDOHVGH2SHUDFLRQHV*(2
E&RODERUDUHQODSURWHFFLyQGH6600ORV5H\HVGH(VSDxD
D$FWXDFLRQHVGHDX[LOLRFRQFDUiFWHUGHXUJHQFLD
E/D8QLGDG&HQWUDOGH3URWHFFLyQ
F4XHHQGHIHFWRGHQRUPDHVSHFtILFDSDUDOD3ROLFtDVHDSOLFDODOHJLVODFLyQJHQH
UDOGHORVIXQFLRQDULRVS~EOLFRV
D(QVHUYLFLRDFWLYR\HQVHJXQGDDFWLYLGDGFRQGHVWLQR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/D-XQWDGH*RELHUQR\HO&RQVHMR$VHVRU
E6HWHQWD\GRVKRUDV
E6HJXULGDG&LXGDGDQD
D+DGHLQWHUYHQLUVLHPSUHHQFXDOTXLHUWLHPSR\OXJDU
E(QWUH-HIHV2ILFLDOHV\0DQGRVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWD
GR\GHODV)XHU]DV$UPDGDV
E5HSUHVLYD
D(MHFXWLYD
D6HJXULGDG&LXGDGDQD
E/D5LRMD
F/D/H\2UJiQLFDGHGHPDU]R\VXUHIRUPDSRU/H\2UJiQLFD
GHGHPD\R
F/D'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
E8QR
D/DV-HIDWXUDV6XSHULRUHVGH3ROLFtD
F(QWUHRWUDVHQODVGRVDQWHULRUHVUHVSXHVWDV
F'DQFKDULQHD
F&RPLVDUtD*HQHUDOGH,QIRUPDFLyQ
E3ROLFtD&LHQWtILFD
D(OUHDGH3URFHVRV6HOHFWLYRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D'HOD6HFUHWDUtD*HQHUDOGHOD6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD
7pFQLFD\'RFXPHQWDO
D/D8QLGDGGH$WHQFLyQ6RFLR6DQLWDULD
F8QyUJDQRGHPHGLDFLyQ\FRQFLOLDFLyQHQFDVRGHFRQIOLFWRVFROHFWLYRVHQHO
E8QDxR
D7HUULWRULDO
F/D-HIDWXUDGH,QIRUPDFLyQH,QYHVWLJDFLyQ
E/D-XQWDGH*RELHUQR
E8QD8QLGDGGH$SR\R
D7DPELpQGHIRUPDYROXQWDULDSXHGHVROLFLWDUODEDMDHQHOODDOFXPSOLUORVGRV
DxRVHQGLFKD8QLGDG
F2UJiQLFDPHQWHGHOD-HIDWXUD6XSHULRUGH3ROLFtD\IXQFLRQDOPHQWHGHOD-HID
WXUDGHOD%ULJDGDGH6HJXULGDG&LXGDGDQD
F2UJiQLFDPHQWHGHOD-HIDWXUDGH8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDOGHOD&RPL
VDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD\IXQFLRQDOPHQWHGHOD-HIDWXUD6XSHULRUGH3ROLFtD
GRQGHWHQJDQVXVHGH
D'LUHFWRU$GMXQWR2SHUDWLYR
F&XDOTXLHUIXQFLRQDULRGHVWLQDGRHQHO0LQLVWHULRGHO,QWHULRU
D/D$GPLQLVWUDFLyQ
E&RRSHUDFLyQUHFtSURFD\FRRUGLQDFLyQ
F'HOD6HFUHWDUtD*HQHUDOGHOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHOD3ROLFtD
F/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3
D&DVWLOOD/D0DQFKD
D6HLVPHVHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E+DEHUVLGRFRQGHQDGRHQYLUWXGGHVHQWHQFLDILUPHSRUXQGHOLWRGRORVRUHOD
FLRQDGRFRQHOVHUYLFLR
D%iVLFD
D([KLELUDUPDVVLQFDXVDMXVWLILFDGD
F'HXQLIRUPHRGHSDLVDQRVHJ~QHOVHUYLFLRTXHGHVHPSHxHQ
D(QORVH[SHGLHQWHVTXHVHLQVWUX\DQDORV&RPLVDULRV3ULQFLSDOHV\&RPLVDULRV
D0X\JUDYH
F)XHUDGHODVKRUDVGHWUDEDMRVLQSHUWXUEDUODPDUFKDGHOVHUYLFLR\FRQDXWR
UL]DFLyQGHO-HIHGHOD'HSHQGHQFLD
F1LQJXQD
E3ULVLyQRUGLQDULDHQUpJLPHQGHVHJXULGDG
E 6X DFWLYLGDG HV LQFRPSDWLEOH FRQ FXDOTXLHU RWUD DFWLYLGDG S~EOLFD RSULYDGD
VDOYRDTXHOODVDFWLYLGDGHVH[FHSWXDGDVGHODOHJLVODFLyQVREUHLQFRPSDWLELOLGDGHV
D'LUHFFLyQ\FRRUGLQDFLyQ
E1RSRGUiVROLFLWDUH[FHGHQFLDYROXQWDULDSRULQWHUpVSDUWLFXODU
E&LQFXHQWD\RFKRDxRVSXGLHQGRDFRJHUVHDXQDSUyUURJDGHGRVDxRVPiV
E6LHVXQDDFXVDFLyQSRUVXDFWXDFLyQSURIHVLRQDOOD'LUHFFLyQ*HQHUDOOHSUR
SRUFLRQD/HWUDGRSDUDVXGHIHQVDHQWRGDVODVLQVWDQFLDV
F7RGDVODVUHVSXHVWDVVRQFLHUWDV
D,QIRUPDFLyQ
E$O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F(OFRQWUROGHHQWUDGD\VDOLGDGHOWHUULWRULRQDFLRQDOGHHVSDxROHV\H[WUDQMHURV
D*UDYH
E,QGLYLGXDOPHQWHSRUHVFULWR\FRQDUUHJORDVX5HJODPHQWR
D(O-HIHGHOD'LYLVLyQGH3HUVRQDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E6HSDUDFLyQGHOVHUYLFLR
F/DMXULVGLFFLyQRUGLQDULDFRUUHVSRQGLHQWH
F&XDQGRDGTXLHUDQODFRQGLFLyQGHIXQFLRQDULRVDOVHUYLFLRGH2UJDQL]DFLRQHV
,QWHUQDFLRQDOHVRGHFDUiFWHUVXSUDQDFLRQDO
F(QOD8QLGDGGH&RRUGLQDFLyQ
D6XSHULRU
F2UJiQLFDPHQWHGHO0LQLVWHULRGHO,QWHULRU\IXQFLRQDOPHQWHGHOD&RPXQLGDG
$XWyQRPDDODTXHVHDGVFULEDQ
F(O-HIHGHOD2ILFLQDGH'HQXQFLDV
D'LUHFWRU*HQHUDOGHOD3ROLFtD\OD*XDUGLD&LYLO
E6HUYLFLRDFWLYR
EGHOD/H\2UJiQLFDGHGHPDU]RGH)XHU]DV\&XHUSRVGH6H
JXULGDGPRGLILFDGDSRUOD/H\2UJiQLFDGHGHPD\R
F6HSURGXFHDORVVHVHQWD\FLQFRDxRV
D%iVLFD6XELQVSHFFLyQ(MHFXWLYD\6XSHULRU
D(QFXDWUR(VFDODV\VLHWH&DWHJRUtDV
E3ROLFtD\2ILFLDOGH3ROLFtD
D$O5pJLPHQ*HQHUDO'LVFLSOLQDULRGHOD)XQFLyQ3~EOLFD
D(MHFXWLYD
D8QDxR
E$OD~QLFDFDWHJRUtDGHTXHFRQVWDSRUSURPRFLyQLQWHUQD
D%iVLFD
F'RFWRU/LFHQFLDGR,QJHQLHURRHTXLYDOHQWH
D&DSDFLWDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F$GPLWHPXMHUHVHQSOHQDLJXDOGDGFRQORVKRPEUHV
F3RVHHUODWLWXODFLyQUHTXHULGD
F$ORVWUHVDxRV
F7RGRORDQWHULRU
F6HUYLFLRDFWLYR
D6HUYLFLRDFWLYR
D)DOWDPX\JUDYH
E$QWHHO-X]JDGRGH*XDUGLDOD3ROLFtD1DFLRQDOOD*XDUGLD&LYLOOD3ROLFtD$X
WyQRPD\OD3ROLFtD/RFDO
F(QVXGHSHQGHQFLDRUJiQLFD\IXQFLRQDO
F([FHGHQFLDIRU]RVD
E7UHVDxRVGHVGHHOQDFLPLHQWR
D'HO&XHUSR1DFLRQDOGH3ROLFtD
F&REHUWXUD\$SR\R
E3pUGLGDGHODFRQGLFLyQGHIXQFLRQDULR
E(VSHFLDOGHORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD
E3RUFRQFXUVR
E6LQGLFDUVHVyORDRUJDQL]DFLRQHVSURIHVLRQDOHVGHOSURSLR&XHUSR
F'H3ROLFtD-XGLFLDO\3ROLFtD$GPLQLVWUDWLYD
D$OSHUVRQDO)DFXOWDWLYR\7pFQLFR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D(OPDQWHQLPLHQWRGHODVHJXULGDG\HORUGHQS~EOLFR
F(OGHUHFKRGHPDQLIHVWDFLyQ
E6RQQHFHVDULDVSDUDVXIXQFLRQDPLHQWR\HOGHVDUUROORGHORVVHUYLFLRV
E-XELODFLyQDQWLFLSDGD
F$WRGRVORVFRPSOHPHQWRVDQWHULRUHV
D6HUYLFLRVHVSHFLDOHV
F3RURSRVLFLyQRSURPRFLyQLQWHUQDSDUDODFDWHJRUtDLQIHULRU\SRUSURPRFLyQ
LQWHUQDDODFDWHJRUtDVXSHULRU
E8Q5HJODPHQWR'LVFLSOLQDULRSURSLR
F(QOD/H\2UJiQLFDGHGHPD\RGHO5pJLPHQ'LVFLSOLQDULRGHO&XHU
SR1DFLRQDOGH3ROLFtDTXHGHURJDWRGRORDQWHULRUHQHVWDPDWHULD
E'RVDxRV
D0X\JUDYH
E*UDYH
E*UDYH
D'RVDxRV
E0X\JUDYHV
D1RHQQLQJ~QFDVR
F/DVUHVSXHVWDVD\EVRQSRVLEOHV
F$OPHV
E*UDYH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/DVHQWHQFLDMXGLFLDOUHFDtGDVHDILUPH
F3RUORPHQRVGHODPLVPDFDWHJRUtDSHURPiVDQWLJXR
F2UGLQDULD
D'LH]GtDV
E6HLVPHVHV
D0iVGH
D$ORVVHLVPHVHV
D'RVDxRV
E/DDSHUWXUDGHOPLVPR
F$OD-XQWDGH*RELHUQRGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F9HODUSRUHOFXPSOLPLHQWRGHODVGLVSRVLFLRQHVVREUHQDWXUDOH]D\PHGLRDP
ELHQWH
D0DWHULDVREUHGURJDV
E0iODJD
D6XEGLUHFFLRQHV*HQHUDOHV
E6XV-HIHVQDWXUDOHV
E 'H OD 8QLGDG &HQWUDO GH 3URWHFFLyQ GH OD &RPLVDUtD *HQHUDO GH 6HJXULGDG
&LXGDGDQD
F(QODGH&RRUGLQDFLyQ(FRQyPLFD\7pFQLFD
D'HOD8QLGDG&HQWUDOGH3URWHFFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E2QFH
D3HUVRQDO
E'HOD'LUHFFLyQ$GMXQWD2SHUDWLYDGHO&XHUSR1DFLRQDOGH3ROLFtD
E'HO(VWDGR
F3URPRFLyQLQWHUQD
F/D-XQWDGH6HJXULGDG
E&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOH
FLGRVHQOD/H\
F7HUULWRULDO
F&RP~QDDPERV&XHUSRV
D(QODVFDSLWDOHVGHSURYLQFLDVHQORVWpUPLQRVPXQLFLSDOHV\Q~FOHRVXUEDQRV
TXHHO*RELHUQRGHWHUPLQH
F(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVRUGLQDULRVSHURVHSDUDGRVGHORVGHPiV
SUHVRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D'LH]GtDV
D(ODFRVRVH[XDO\HODFRVRODERUDO
E6HLVPHVHV
E/D&RPLVDUtD(VSHFLDOGHO&RQJUHVRGHORV'LSXWDGRV
F3RUQLQJXQR
D6XVSHQVLyQGHIXQFLRQHVGHVGHFLQFRGtDVDWUHVPHVHV
F&LQFR
E/RV*UXSRVGH'HVDFWLYDFLyQGH([SORVLYRV
D/HYH
D/D83$3
D3XHGHQYROYHUDOD$GPLQLVWUDFLyQVLHPSUHTXHVXSHUHQGHQXHYRORVSURFHVRV
GHVHOHFFLyQHQYLJRU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$/(<25*1,&$'('(0$5=2'(/26&8(5326<)8(5=$6
'(6(*85,'$'',6326,&,21(6*(1(5$/(635,1&,3,26%6,&26
'($&78$&,1',6326,&,21(6(67$787$5,$6&2081(6'(/$6
)8(5=$6<&8(5326'(6(*85,'$''(/(67$'2/26'(5(&+26'(
5(35(6(17$&,1&2/(&7,9$(/&216(-2'(32/,&$25*$1,=$&,1
'(/$681,'$'(6'(32/,&$-8',&,$/'(/$632/,&$6'(/$6
&2081,'$'(6$87120$6'(/$&2/$%25$&,1<&225',1$&,1
(175((/(67$'2</$6&2081,'$'(6$87120$632/,&$6/2&$/(6
4Xp yUJDQR GH HQWUH ORV VLJXLHQWHV FRRUGLQD ODV SROtWLFDV GH VHJXULGDG
S~EOLFDHQWUHHO*RELHUQR\ODV&RPXQLGDGHV$XWyQRPDV"
E/D-XQWDGH6HJXULGDG
F/D-XQWD/RFDOGH6HJXULGDG
(QODV&RPXQLGDGHV $XWyQRPDV TXHGLVSRQJDQGH&XHUSRV GH3ROLFtD SUR
SLRVSRGUiFRQVWLWXLUVHXQyUJDQRLQWHJUDGRSRULJXDOQ~PHURGHUHSUHVHQWDQWHV
GHO(VWDGR\GHODV&RPXQLGDGHV$XWyQRPDVFRQODPLVLyQGHFRRUGLQDUODDFWXD
FLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\GHORV&XHUSRVGH3ROLFtD
GHOD&RPXQLGDG$XWyQRPDHQORVWpUPLQRVTXHUHJODPHQWDULDPHQWHVHGHWHUPL
QHQFXiOHVODGHQRPLQDFLyQGHGLFKRyUJDQR"
D-XQWDGH6HJXULGDGGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E-XQWD/RFDOGH6HJXULGDG
F&RQVHMRGH3ROtWLFDGH6HJXULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(ODFWXDUHQHOFXPSOLPLHQWRGHVXVIXQFLRQHVFRQDEVROXWDQHXWUDOLGDGSROtWL
FDHLPSDUFLDOLGDG\HQFRQVHFXHQFLDVLQGLVFULPLQDFLyQDOJXQDSRUUD]yQGHUD]D
UHOLJLyQXRSLQLyQHVWiFRQWHQLGRHQHO3ULQFLSLR%iVLFRGH$FWXDFLyQGHODV)XHU]DV
\&XHUSRVGH6HJXULGDGUHODWLYRD
D5HODFLRQHVFRQOD&RPXQLGDG
E$GHFXDFLyQDORUGHQDPLHQWRMXUtGLFR
F'HGLFDFLyQSURIHVLRQDO
6DEHPRVTXHHO3UHVLGHQWHGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO\GHO7UL
EXQDO6XSUHPRSUHVLGHOD&RPLVLyQ1DFLRQDOGH&RRUGLQDFLyQGHOD3ROLFtD-XGLFLDO
SHURHQVXDXVHQFLDTXLpQODSUHVLGLUi"
D8Q9LFHSUHVLGHQWHGHO*RELHUQRVLORKXELHUH
E(O9LFHSUHVLGHQWHGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F(O0LQLVWURGH-XVWLFLD
/D FRRUGLQDFLyQ GH ODV )XHU]DV \ &XHUSRV GH OD 6HJXULGDG GHO (VWDGR HV
FRPSHWHQFLDGH
/RV UHSUHVHQWDQWHV GH ODV &RPXQLGDGHV $XWyQRPDV TXH IRUPDQ SDUWH GHO
&RPLWpGH([SHUWRVVRQUHQRYDGRVFDGD
D$xR
E'RVDxRV
F7UHVDxRV
/DV&RPXQLGDGHV$XWyQRPDVTXHWHQJDQ&XHUSRVGH3ROLFtDSURSLDDTXLpQ
GHEHQGHLQIRUPDUGHODVGLVSRVLFLRQHVTXHDGRSWHQ"
D$O*RELHUQRGHOD1DFLyQ
F$O&RQVHMRGH3ROtWLFDGH6HJXULGDG
/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
VHHVWDEOHFLHURQPHGLDQWHXQDOH\
D'HEDVHV
E2UJiQLFD
F2UGLQDULD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8Q3ROLFtDUHSUHVHQWDQWHVLQGLFDODOLQWHJUDUVHHQHO&RQVHMRGH3ROLFtDHQ
TXpVLWXDFLyQDGPLQLVWUDWLYDTXHGD"
D$VHUYLFLRVHVSHFLDOHV
E(QVHUYLFLRDFWLYR
F'HVHUYLFLRHQRWUDV$GPLQLVWUDFLRQHV3~EOLFDV
(O5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDKDVLGRUHIRUPDGR
SRU
D/H\2UGLQDULDGHGHMXQLR
E/H\2UJiQLFDGHGHPD\R
F5HDO'HFUHWRGHGHDEULO
$OSURFHGHUDODGHWHQFLyQGHXQDSHUVRQDORVIXQFLRQDULRVGHODV)XHU]DV
\&XHUSRVGH6HJXULGDGHQSULPHUOXJDUGHEHUiQ
D/HHUOHDOGHWHQLGRVXVGHUHFKRVFRQVWLWXFLRQDOHV
E,GHQWLILFDUDORVTXHYDQDGHWHQHU
F,GHQWLILFDUVHFRPRWDOHVIXQFLRQDULRV
/RVIXQFLRQDULRVSROLFLDOHVHQYLUWXGGHOSULQFLSLRGHGHGLFDFLyQSURIHVLR
QDOGHEHUiQDFWXDU
D6LHPSUHTXHVHDQUHTXHULGRVSDUDHOOR\VHHQFXHQWUHQGHVHUYLFLR
E6LHPSUH\HQWRGROXJDUVHHQFXHQWUHQRQRGHVHUYLFLRHQGHIHQVDGHODOH\\GH
ODVHJXULGDGFLXGDGDQD
F&XDQGRHVWpQGHVHUYLFLR\VyORGHQWURGHOWHUUHQRGHVXVFRPSHWHQFLDV
/DV8QLGDGHVGHO&XHUSR1DFLRQDOGH3ROLFtDDGVFULWDVDODV&RPXQLGDGHV
$XWyQRPDVDFW~DQEDMRHOPDQGRGH
D(O&RQVHMHURGH*REHUQDFLyQR,QWHULRUGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E/DV$XWRULGDGHVGHODSURSLD&RPXQLGDG$XWyQRPD
F6XV-HIHVQDWXUDOHV
3RUTXpWLHQHXQDHVWUXFWXUDMHUDUTXL]DGDHO&XHUSR1DFLRQDOGH3ROLFtD"
D3RUTXHGHSHQGHQGHO*RELHUQRGHOD1DFLyQ
E3RUTXHVXVPLHPEURVVHLQWHJUDQHQ(VFDODV\&DWHJRUtDV
F<DTXHVXVPLHPEURVIRUPDQSDUWHGHOD3ROLFtD-XGLFLDO
'HQWURGHTXpyUJDQRGHFRRUGLQDFLyQH[LVWHHOOODPDGR&RPLWpGH([SHUWRV"
D(QHO&RQVHMRGH3ROtWLFDGH6HJXULGDG
E(QOD-XQWDGH6HJXULGDG
F(QOD-XQWD/RFDOGH6HJXULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$TXLpQFRUUHVSRQGHHOPDQWHQLPLHQWRGHODVHJXULGDGS~EOLFD"
E$O*RELHUQR
4XLpQSUHVLGHHO&RQVHMRGH3ROtWLFDGH6HJXULGDG"
/D LQVWUXFFLyQ \ IDOOR SRU ODV IDOWDV FRPHWLGDV SRU XQ 3ROLFtD 1DFLRQDO OH
FRUUHVSRQGH
D$O-X]JDGRGH,QVWUXFFLyQ
E$O-X]JDGRGHOR3HQDO
F$OD$XGLHQFLD3URYLQFLDO
(QFDVRGHFRQIOLFWRGHLQWHUHVHVTXLpQPHGLDHQWUHOD$GPLQLVWUDFLyQ\HO
D(O&RQVHMRGH3ROLFtD
/D/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDGGLFHTXHVXVLQWHJUDQ
WHVHQHOGHVHPSHxRGHVXVFRPSHWHQFLDVDMXVWDUiQVXDFWXDFLyQ
D$OSULQFLSLRGHFRRSHUDFLyQUHFtSURFD
E$ODQRUPDH[LVWHQWHSDUDFDGDDFWXDFLyQ
F$ODVREOLJDFLRQHVTXHOHLPSRQHVXDOWDPLVLyQ
3XHGHXQFLXGDGDQRSUHVHQWDUDQWHOD*XDUGLD&LYLOGHXQSXHEORGRQGH
QRKD\&RPLVDUtDGHO&XHUSR1DFLRQDOGH3ROLFtDODVROLFLWXGSDUDREWHQHUHOSDVD
SRUWH"
D1RSRUVHUFRPSHWHQFLDGHOD3ROLFtD
E6tSDUDTXHOD*XDUGLD&LYLOORUHPLWDDOD3ROLFtD
F/RWLHQHTXHKDFHUSHUVRQDOPHQWHHQOD&RPLVDUtDGH3ROLFtDPiVFHUFDQD
4XLpQFRRUGLQDODVSROtWLFDVGHVHJXULGDGGHO(VWDGR\GHODV&RPXQLGDGHV
$XWyQRPDV"
E/D-XQWD/RFDOGH6HJXULGDGHV
F/D-XQWDGH6HJXULGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QODV&RPXQLGDGHV$XWyQRPDVTXHGLVSRQJDQGH&XHUSRVGH3ROLFtDSUR
SLRVSRGUiFRQVWLWXLUVH
D8QD-XQWDGH&RQWURO
E8Q&RPLWpGH6HJXULGDG\&RQWURO
F8QD-XQWDGH6HJXULGDG
6RQ)XHU]DV\&XHUSRVGH6HJXULGDG
D /DV )XHU]DV \ &XHUSRV GH 6HJXULGDG GHO (VWDGR GHSHQGLHQWHV GHO *RELHUQR GH OD
1DFLyQ
E/RV&XHUSRVGH3ROLFtDGHSHQGLHQWHVGHODV&RPXQLGDGHV$XWyQRPDV\ORVGHSHQ
GLHQWHVGHODV&RUSRUDFLRQHV/RFDOHV
F7RGDVODVDQWHULRUHV
6HJ~QHODUWtFXORGHOD/H\2UJiQLFDVHxDOHGHHQWUHORVVLJXLHQ
WHVHOTXHQRVHDXQ3ULQFLSLR%iVLFRGH$FWXDFLyQ
D$FWXDUFRQDEVROXWDQHXWUDOLGDGSROtWLFDHLPSDUFLDOLGDG
E(OPDQWHQLPLHQWRGHODVHJXULGDGFLXGDGDQD\HORUGHQS~EOLFR
F*XDUGDUULJXURVRVHFUHWRUHVSHFWRDWRGDVODVLQIRUPDFLRQHVTXHFRQR]FDSRUUD]yQ
RFRQRFDVLyQGHOGHVHPSHxRGHVXVIXQFLRQHV
/RV'HWHFWLYHV3ULYDGRV
D3HUWHQHFHQDORV&XHUSRV\)XHU]DVGH6HJXULGDG
E7LHQHQHVSHFLDOREOLJDFLyQGHFRODERUDUFRQODV)XHU]DV\&XHUSRVGH6HJXULGDG
F'HSHQGHQGHO0LQLVWHULRGHO,QWHULRU
6HxDOHTXLpQHVQRIRUPDQSDUWHGHO&RQVHMRGH3ROtWLFDGH6HJXULGDG
D/RV&RQVHMHURVGH,QWHULRUR*REHUQDFLyQGHODV&RPXQLGDGHV$XWyQRPDV
E/RVUHSUHVHQWDQWHVGHODV3ROLFtDV/RFDOHV
(O&RQVHMRGH3ROtWLFDGH6HJXULGDG
D(VXQyUJDQRLQFDUGLQDGRHQOD8QLyQ(XURSHDGHFDUiFWHUFRQVXOWLYRSROLFLDO
E (V HO yUJDQR TXH LQIRUPD ORV FRQYHQLRV GH FRRSHUDFLyQ HQ PDWHULD GH VHJXULGDG
HQWUHHO(VWDGR\ODV&RPXQLGDGHV$XWyQRPDV
F (V HO yUJDQR TXH LQIRUPD ORV &RQYHQLRV GH &RRSHUDFLyQ HQ PDWHULD GH VHJXULGDG
HQWUHODVGLVWLQWDV&RPXQLGDGHV$XWyQRPDV
4XLpQ GHVHPSHxD ODV IXQFLRQHV SROLFLDOHV HQ ORV 0XQLFLSLRV VLQ 3ROLFtD
/RFDO"
D/RV*XDUGDV9LJLODQWHV$JHQWHVR$OJXDFLOHV
E/D*XDUGLD&LYLO
F/D3ROLFtD$XWyQRPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQFRRUGLQDODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\ODVGHODV
&RPXQLGDGHV$XWyQRPDV"
E/D-XQWDGH6HJXULGDG
F(O'HOHJDGRGHO*RELHUQR
/DVIXQFLRQHV\3ULQFLSLRV%iVLFRVGH$FWXDFLyQGHORV&XHUSRV\)XHU]DV
GH6HJXULGDGVHILMDUiQSRU
D5HDO'HFUHWR
E/H\2UJiQLFD
F/H\GH%DVHV
&XDQGRDVLVWHHO6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLDDXQDVHVLyQGH
OD-XQWD/RFDOGH6HJXULGDGHQXQSXHEORTXLpQODSUHVLGH"
E(O$OFDOGHFRPRVLHPSUH
F/D3UHVLGHQFLDHVFRPSDUWLGDSRUORVGRVDQWHULRUHV
(QHOFXPSOLPLHQWRGHVXVIXQFLRQHVODV)XHU]DV\&XHUSRVGH6HJXULGDG
DFWXDUiQGHIRUPD
D1HXWUDOHLPSDUFLDO
E'LSORPiWLFD\DPDEOH
F,QIOH[LEOH\ULJXURVD
6HxDOHORTXHHQUHODFLyQFRQHORUGHQDPLHQWRMXUtGLFRQRVHDSURSLRGHOD
DFWXDFLyQSROLFLDO
D$FWXDUVLHPSUHFRQGLJQLGDGHLQWHJULGDG
E$FWXDUVLHPSUHVXERUGLQDGD\MHUDUTXL]DGDPHQWH
F$FWXDUVLHPSUHHQEHQHILFLRGHO*RELHUQR
(VXQ3ULQFLSLR%iVLFRGH$FWXDFLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOHFLGRV
SRUODOH\
E&RQWURODUODHQWUDGD\VDOLGDGHSHUVRQDVGHOWHUULWRULRQDFLRQDO
F/DLQYHVWLJDFLyQ\SHUVHFXFLyQGHORVGHOLWRVUHODFLRQDGRVFRQODGURJD
(QHOHMHUFLFLRGHVXVIXQFLRQHVORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH
6HJXULGDGWHQGUiQDWRGRVORVHIHFWRVOHJDOHVHOFDUiFWHUGH
D3ROLFtDGHO(VWDGR
E3ROLFtDGHO*RELHUQR
F$JHQWHVGHOD$XWRULGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOH OD UHVSXHVWD TXH QR HV XQ 3ULQFLSLR %iVLFR GH $FWXDFLyQ GH ORV
PLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D3URSRUFLRQDUHQWRGDVVXVLQWHUYHQFLRQHVODPHQRULQIRUPDFLyQSRVLEOHVREUHODV
FDXVDV\ILQDOLGDGGHODVPLVPDV
E,GHQWLILFDUVHGHELGDPHQWHFRPRPLHPEURGHODV)XHU]DV\&XHUSRVGH6HJXULGDGHQ
HOPRPHQWRGHHIHFWXDUXQDGHWHQFLyQ
F*XDUGDUULJXURVRVHFUHWRUHVSHFWRDWRGDVODVLQIRUPDFLRQHVTXHFRQR]FDQSRUUD]yQ
RFRQRFDVLyQGHOGHVHPSHxRGHVXVIXQFLRQHV
6HJ~QHODUWtFXORGHOD/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDG
VXVPLHPEURVVHDWHQGUiQHQVXDFWXDFLyQDO3ULQFLSLR%iVLFR
D'HFRQJUXHQFLDRSRUWXQLGDG\SURSRUFLRQDOLGDGHQORVPHGLRVXWLOL]DGRVDVXDO
FDQFH LGHQWLILFiQGRVH GHELGDPHQWH FRPR WDOHV HQ HO PRPHQWR GH OOHYDU D FDER XQD
GHWHQFLyQ
E'HEHUiQOOHYDUDFDERVXVIXQFLRQHVFRQWRWDOGHGLFDFLyQGHELHQGRLQWHUYHQLUVLHP
SUHHQFXDOTXLHUWLHPSR\OXJDUVHKDOODUHQRQRGHVHUYLFLRHQGHIHQVDGHODOH\\GHOD
VHJXULGDGFLXGDGDQD
&XDQGRXQIXQFLRQDULRDFW~DULJLpQGRVHSRUORVSULQFLSLRVGHFRQJUXHQFLD
RSRUWXQLGDG\SURSRUFLRQDOLGDGORKDFHWHQLHQGRFRPREDVHHO3ULQFLSLR%iVLFRGH
$FWXDFLyQUHIHULGRD
D'HGLFDFLyQSURIHVLRQDO
E5HODFLRQHVFRQOD&RPXQLGDG
F5HVSRQVDELOLGDG
/RVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGHQVXVUHODFLRQHVFRQ
OD&RPXQLGDGHMHUFHUiQVXVIXQFLRQHVULJLpQGRVHSRUORVSULQFLSLRVGH
D)LGHOLGDG\FRODERUDFLyQ
E&RRSHUDFLyQ\FRQJUXHQFLD
F &RQJUXHQFLD RSRUWXQLGDG \ SURSRUFLRQDOLGDG HQ OD XWLOL]DFLyQ GH ORV PHGLRV D VX
DOFDQFH
6HxDOHGHHQWUHORVVLJXLHQWHVHOFRPSRUWDPLHQWRLPSURSLRRLQFRUUHFWRHQ
ODDFWXDFLyQSROLFLDO
D&XPSOLUiQHVWULFWDPHQWHORVSOD]RVSUHYLVWRVSDUDODVGHWHQFLRQHV
E'HEHUiQYHODUSRUODLQWHJULGDGGHORVGHWHQLGRV
F6LDFW~DQGHSDLVDQRSRGUiQGHWHQHUDFXDOTXLHUFLXGDGDQRTXHKXELHUDFRPHWLGR
XQGHOLWR8QDYH]HQOD&RPLVDUtDVLHVSUHFLVRVHSRGUiQLGHQWLILFDUFRPR$JHQWHVSROL
FLDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
%DViQGRQRV HQ OD LPSRUWDQWH 6HQWHQFLD GHO 7ULEXQDO 6XSUHPR GH GH
HQHURGHFXDQGROD3ROLFtDVRUSUHQGDDXQGHOLQFXHQWHLQIUDJDQWL\HVWH
HPSUHQGDODKXLGDVHSXHGHXVDUHODUPDGHIXHJRFRQWUDpO"
D4XHGDDFULWHULRGHO$JHQWH
E1R
F6t
&XDQGRXQPLHPEURGHORV&XHUSRV3ROLFLDOHVHVWiOLEUHGHVHUYLFLRDQWHXQ
KHFKRGHOLFWLYR
D'HEHDFWXDUHQWRGRFDVRGHQWURGHVXVSRVLELOLGDGHV
E1RSXHGHKDFHUQDGDSRUQRHVWDUGHVHUYLFLR
F3XHGHLQWHUYHQLUVLORGHVHD
/DIRUPDFLyQGHORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D7HQGUiFDUiFWHUSURIHVLRQDO\SHUPDQHQWH
E&RQWHPSODUiODVSHFXOLDULGDGHVFDUDFWHUtVWLFDVGHODIXQFLyQSROLFLDO
F7HQGUiFDUiFWHUHVSHFLDO\SHUPDQHQWH
7RGRVORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHEHUiQMXUDUR
SURPHWHUDFDWDPLHQWR
D$O5H\
E$O*RELHUQRGHOD1DFLyQ
(OyUJDQRDVHVRU\HMHFXWLYRGHO&RQVHMRGH3ROtWLFDGH6HJXULGDGHV
D(O&RQVHMR$VHVRU
E(O&RPLWpGH([SHUWRV
F(O&RQVHMRGH3ROLFtD
7LHQHQGHUHFKRDODKXHOJDORVIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD"
D6tVLHPSUHTXHVHHQFXHQWUHQIXHUDGHVHUYLFLR
E1RHVWpQRQRGHVHUYLFLR
F+DGHPHGLDUXQSUHDYLVRGHTXLQFHGtDVDQWHVGHOLQLFLRGHODKXHOJD
4XpHVOD-XQWD/RFDOGH6HJXULGDG"
D(OyUJDQRTXHGLVHxDORVSODQHVGHVHJXULGDGHQORVPXQLFLSLRVFRQHO&XHUSRGH
3ROLFtD
E(OyUJDQRFROHJLDGRTXHHVWDEOHFHODVIRUPDVGHFRODERUDFLyQHQWUHORVPLHPEURVGH
ORV&XHUSRVGH6HJXULGDGTXHDFW~DQVREUHXQPLVPRPXQLFLSLR
F(OyUJDQRTXHFRRUGLQDODDFWXDFLyQGHOD3ROLFtD/RFDOGHXQ0XQLFLSLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGWHQGUiQODFRQVLGHUD
FLyQGH$XWRULGDGDHIHFWRVGHSURWHFFLyQSHQDO
D(QORVVXSXHVWRVGHDWHQWDGRPHGLDQWHDUPDVGHIXHJRH[SORVLYRVXRWURVPHGLRV
GHDJUHVLyQGHDQiORJDSHOLJURVLGDG
E6LHPSUHVRQ$JHQWHVGHOD$XWRULGDG
F&XDQGRDFW~DQFRPLVLRQDGRVSRUOD$XWRULGDG-XGLFLDOR0LQLVWHULR)LVFDO
3DUD FRQRFHU GH ORV GHOLWRV TXH VH FRPHWDQ FRQWUD ORV PLHPEURV GH ODV
)XHU]DV\&XHUSRVGH6HJXULGDGDVtFRPRORVFRPHWLGRVSRUHVWRVHQHOHMHUFLFLR
GHVXVIXQFLRQHVVHUiFRPSHWHQWH
D/D-XULVGLFFLyQRUGLQDULDH[FHSWRORVVXSXHVWRVHQTXHVHDFRPSHWHQWHOD-XULVGLF
FLyQPLOLWDU
E/D-XULVGLFFLyQRUGLQDULDH[FHSWRSDUDOD*XDUGLD&LYLOTXHORVMX]JDVLHPSUHOD-X
ULVGLFFLyQPLOLWDU
F/D-XULVGLFFLyQHVSHFLDO
/DV8QLGDGHV2UJiQLFDVGH3ROLFtD-XGLFLDOGHSHQGHQ
D2UJiQLFDPHQWHGHO0LQLVWHULRGHO,QWHULRU\IXQFLRQDOPHQWHGHORV-XHFHV7ULEXQDOHV
\0LQLVWHULR)LVFDO
E)XQFLRQDOPHQWHGHO0LQLVWHULRGHO,QWHULRU\RUJiQLFDPHQWHGHORV-XHFHV7ULEXQDOHV
\0LQLVWHULR)LVFDO
F2UJiQLFDPHQWHGHO-XH]'HFDQR\IXQFLRQDOPHQWHGHVXVMHIHVQDWXUDOHV
6LXQD&RPXQLGDG$XWyQRPDGHFLGHQRFUHDUVXSURSLD3ROLFtD
D8WLOL]DUiDODV3ROLFtDV/RFDOHVTXHKD\DHQOD&RPXQLGDG
E2UGHQDUiORTXHSUHFLVHDORV&XHUSRVGHO(VWDGRTXHHVWpQHQVXWHUULWRULR
F 3XHGH VROLFLWDU GHO *RELHUQR GH OD 1DFLyQ OD DGVFULSFLyQ GH 8QLGDGHV GHO &XHUSR
1DFLRQDOGH3ROLFtD
/DV&RPXQLGDGHV$XWyQRPDVSXHGHQFUHDUVXVSURSLRV&XHUSRVGH3ROLFtD
D6LVRQDXWRUL]DGDVSRUHO*RELHUQRGHOD1DFLyQ
E6LDVtORDFXHUGDHO3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPD
F6LDVtHVWiSUHYLVWRHQVXV(VWDWXWRVGH$XWRQRPtD
/DDFWXDFLyQGHODV3ROLFtDV/RFDOHVVHUiFRRUGLQDGDSRU
D/D-XQWDGH6HJXULGDG
E/D&RPXQLGDG$XWyQRPDUHVSHFWLYD
F/RV$OFDOGHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGRHQTXpiPELWRWHUULWRULDO
SXHGHQDFWXDU"
D(QWRGRHOWHUULWRULRQDFLRQDO
E(QWRGRHOWHUULWRULRQDFLRQDOH[FHSWRHQODV&RPXQLGDGHV$XWyQRPDVFRQ&XHUSR
GH3ROLFtDSURSLR
F6LHPSUHHQFRODERUDFLyQFRQHO&XHUSRGH3ROLFtD/RFDOGHOOXJDU
4XLpQSXHGHHVWDEOHFHUHOQ~PHURPi[LPRGHHIHFWLYRVGHODVSODQWLOODVGH
ORV3ROLFtDVGHXQD&RPXQLGDG$XWyQRPD"
E(O&RQVHMRGH3ROtWLFDGH6HJXULGDG
F(O*RELHUQR
3UHVLGHOD&RPLVLyQ3URYLQFLDOGH&RRUGLQDFLyQGHOD3ROLFtD-XGLFLDO
D(O0DJLVWUDGR-XH]'HFDQR
E(O)LVFDO-HIHGHOD$XGLHQFLD3URYLQFLDO
F(O3UHVLGHQWHGHOD$XGLHQFLD3URYLQFLDO
/RVVHUYLFLRV\PLVLRQHVTXHFRUUHVSRQGHQDODV)XHU]DV\&XHUSRVGH6H
JXULGDGGHO(VWDGRORVFRRUGLQD\VXSHUYLVD
(QWUHORVVLJXLHQWHVVHxDOHORTXHQRHVXQ3ULQFLSLR%iVLFRGH$FWXDFLyQ
GHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D(MHUFHUVXIXQFLyQFRQDEVROXWRUHVSHWRDOD&RQVWLWXFLyQ\DOUHVWRGHORUGHQDPLHQWR
MXUtGLFR
E6XMHWDUVHHQVXDFWXDFLyQSURIHVLRQDODORVSULQFLSLRVGHMHUDUTXtD\VXERUGLQDFLyQ
F&XPSOLUODRUGHQUHFLELGDVHDFXDOVHDVXFRQWHQLGR
$VHJXUDU OD FRQVHUYDFLyQ \ FXVWRGLD GH ORV ELHQHV TXH VH HQFXHQWUHQ HQ
VLWXDFLyQGHSHOLJURHVXQDFRPSHWHQFLD
D'HORV'HSyVLWRV-XGLFLDOHV
E'HOD3ROLFtD/RFDO
F'HODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
/DV3ROLFtDV/RFDOHVIRUPDQSDUWHGHODV)XHU]DV\&XHUSRV
D'H6HJXULGDG
E'H6HJXULGDGGHO(VWDGR
F'H6HJXULGDGGHODV&RPXQLGDGHV$XWyQRPDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XLpQSUHVLGHOD-XQWD/RFDOGH6HJXULGDG"
D(O$OFDOGH
E(O$OFDOGH\ORV-HIHVGHORV&XHUSRV3ROLFLDOHV
F(O-HIHGHO&XHUSR1DFLRQDOGH3ROLFtD
6HxDOHTXpUHVSXHVWDQRHVFRPSHWHQFLDGHODV)XHU]DV\&XHUSRVGH6H
JXULGDGGHO(VWDGR
D$VHJXUDUORVLQVWUXPHQWRVHIHFWRV\SUXHEDVGHOGHOLWRDOLQWHUYHQLUHQODLQYHVWLJD
FLyQGHOPLVPR
E,QVWUXLUHOVXPDULRSRUORVGHOLWRVPHQRVJUDYHVHQTXHLQWHUYHQJDQ
F 9HODU SRU HO FXPSOLPLHQWR GH ODV OH\HV \ GLVSRVLFLRQHV JHQHUDOHV HMHFXWDQGR ODV
yUGHQHVTXHUHFLEDQGHODV$XWRULGDGHVHQHOiPELWRGHVXVUHVSHFWLYDVFRPSHWHQFLDV
/DFRRUGLQDFLyQHQWUHOD3ROLFtDGHO(VWDGR\ODGHOD*HQHUDOLGDGGH&DWD
OXxDFRPSHWH
E$OD*HQHUDOLGDGGH&DWDOXxD
F$OD-XQWDGH6HJXULGDG
(QHO&XHUSR1DFLRQDOGH3ROLFtDODQHXWUDOLGDGSROtWLFDHLPSDUFLDOLGDGHV
XQ3ULQFLSLR%iVLFRGH$FWXDFLyQHQUHODFLyQFRQ
D/DDGHFXDFLyQDORUGHQDPLHQWRMXUtGLFR
E/D&RPXQLGDG
F(OWUDWDPLHQWRGHGHWHQLGRV
/RVPLHPEURVHQDFWLYRGHO&XHUSR1DFLRQDOGH3ROLFtD\ORVGHOD*XDUGLD&LYLO
D3XHGHQDILOLDUVHDSDUWLGRVSROtWLFRV\VLQGLFDWRV
E1RSXHGHQDILOLDUVHQLDXQRVQLDRWURV
F1LQJXQDGHODVWUHVUHVSXHVWDVDQWHULRUHVHVFRUUHFWD
4XLpQQRPEUDDO-HIHGHXQD8QLGDGGHO&XHUSR1DFLRQDOGH3ROLFtD$GVFUL
WDDXQD&RPXQLGDG$XWyQRPD"
F(O3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDUHFHSWRUDGHGLFKD8QLGDG
/DV)XHU]DV\&XHUSRVGH6HJXULGDGDMXVWDUiQVXDFWXDFLyQDOSULQFLSLRGH
D&RRSHUDFLyQUHFtSURFD\FRRUGLQDFLyQ
E2EVHUYDUVLHPSUHODLQWHJULGDG\GLJQLGDG
F5HVSHWRDOD&RQVWLWXFLyQ\DOUHVWRGHORUGHQDPLHQWRMXUtGLFR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGRVHLQWHJUDQHQODV
8QLGDGHV2UJiQLFDVGH3ROLFtD-XGLFLDO
D5HFLEHQODVyUGHQHVGLUHFWD\H[FOXVLYDPHQWHGHORV-XHFHV7ULEXQDOHV\0LQLVWHULR
)LVFDO
E3DVDQDGHSHQGHUHQWRGRVORVDVSHFWRVH[FOXVLYDPHQWHGHORV-XHFHV
F6yORGHSHQGHQGHORV)LVFDOHV
/D'HFODUDFLyQVREUHOD3ROLFtDIXHIRUPXODGDSRU
D(O&RQVHMRGH(XURSD
E/D$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
F/D8QLyQ(XURSHD
(O&XHUSRGHOD*XDUGLD&LYLOGHSHQGHGHO
D0LQLVWHULRGH'HIHQVD
E0LQLVWHULRGHO,QWHULRU
6HJ~Q OD /H\ 2UJiQLFD GH )XHU]DV \ &XHUSRV GH 6HJXULGDG HQ FDVR GH
FRQIOLFWRGHFRPSHWHQFLDVHQWUH3ROLFtD\*XDUGLD&LYLOTXLpQVHKDFHFDUJRGHO
VHUYLFLR"
D(O&XHUSRTXHKD\DUHDOL]DGRODVSULPHUDVDFWXDFLRQHVKDVWDTXHGHFLGDQODVDXWR
ULGDGHVJXEHUQDWLYDV
E(O&XHUSRTXHKD\DUHDOL]DGRODVSULPHUDVGHWHQFLRQHV
F(O&XHUSRFRPSHWHQWHSRUUD]yQGHODPDWHULD
/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQGHOD/H\2UJiQLFDGH)XHU]DV
\&XHUSRVGH6HJXULGDGVRQGHDSOLFDFLyQ
D6yORDORVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtD\GHOD*XDUGLD&LYLO
E$WRGRVORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
F$ORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\DODV3ROLFtDV
/RFDOHV
4XpyUJDQRJDUDQWL]DODFRRUGLQDFLyQGHODVSROtWLFDVGH6HJXULGDGHQWUHHO
(VWDGR\ODV&RPXQLGDGHV$XWyQRPDV"
F/RV'HOHJDGRVGHO*RELHUQRHQODVGLVWLQWDV&RPXQLGDGHV$XWyQRPDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LQSHUMXLFLRGHODGLVWULEXFLyQWHUULWRULDOGHFRPSHWHQFLDVSXHGHHO0LQLV
WHULR)LVFDORUGHQDUODDFWXDFLyQGHOD3ROLFtD1DFLRQDOIXHUDGHVXiPELWRFRPSH
WHQFLDO"
D1RORWLHQHQTXHKDFHUORV0DQGRV3ROLFLDOHV
E1RORGHEHDXWRUL]DUHO-XH]
F6tSXHGHKDFHUOR
(OQRPEUDPLHQWRGHO'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLOHV
SURSXHVWRSRU
E(O5H\
F/RV0LQLVWURVGHO,QWHULRU\'HIHQVDFRQMXQWDPHQWH
/DQRUPDTXHKDGHVDUUROODGROD/H\2UJiQLFDGHGHPDU]RHQ
ORUHIHUHQWHDODV8QLGDGHV2UJiQLFDVGH3ROLFtD-XGLFLDOHV
D/D2UGHQ0LQLVWHULDOGHGHMXQLRGH
E(O5HDO'HFUHWRGHGHMXQLR
F/DSURSLD/H\2UJiQLFDHQVX'LVSRVLFLyQ7UDQVLWRULD
/DV8QLGDGHVGH3ROLFtD-XGLFLDOHVWDUiQLQWHJUDGDVSRUPLHPEURVGH
E/DV3ROLFtDVGHODV&RPXQLGDGHV$XWyQRPDV
/DDGVFULSFLyQGH8QLGDGHV2UJiQLFDVGHOD3ROLFtD-XGLFLDODGHWHUPLQDGRV
-X]JDGRV\7ULEXQDOHVHVFRPSHWHQFLD
D'HO3UHVLGHQWHGHOD$XGLHQFLD3URYLQFLDOUHVSHFWLYD
E'HO0LQLVWHULRGHO,QWHULRURtGRHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F'HO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
(QFXDQWRDODIRUPD\ORVUHVXOWDGRVODHMHFXFLyQGHODVDFWXDFLRQHVGHORV
PLHPEURVGHOD3ROLFtD-XGLFLDOVHUiQFRQWURODGDVSRU
D/RV&RPLVDULRV-HIHV3URYLQFLDOHV
E(O6XEGHOHJDGRGHO*RELHUQR
F/RV-XHFHV7ULEXQDOHV\0LQLVWHULR)LVFDO
/DFRPSHWHQFLDSDUDODDGVFULSFLyQGH8QLGDGHV2UJiQLFDVGH3ROLFtD-XGL
FLDODO0LQLVWHULR)LVFDOFRUUHVSRQGHDO
D)LVFDO-HIHGHOD$XGLHQFLD3URYLQFLDOUHVSHFWLYD
E0LQLVWHULRGHO,QWHULRURtGRHO)LVFDO*HQHUDOGHO(VWDGR
F)LVFDO*HQHUDOGHO(VWDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3DUD RFXSDU XQ SXHVWR HQ ODV 8QLGDGHV 2UJiQLFDV GH 3ROLFtD -XGLFLDO HV
QHFHVDULR
D6HUPLHPEURGHDOJXQDGHODV3ROLFtDV$XWyQRPDV
E(VWDUHQSRVHVLyQGHOFRUUHVSRQGLHQWH'LSORPD
F6HUPLHPEURGHOD3ROLFtD/RFDOGHXQDFDSLWDOGHSURYLQFLD
/RV-XHFHV7ULEXQDOHV\0LQLVWHULR)LVFDOUHVSHFWRDORVPLHPEURVGHODV
8QLGDGHVGH3ROLFtD-XGLFLDODHOORVDGVFULWRVSRGUiQLQVWDUHOHMHUFLFLRGHODSR
WHVWDGGLVFLSOLQDULD"
D6tVLHPSUH
E6yORHQFDVRGHIDOWDVJUDYHV
F1RQXQFD
/DFUHDFLyQGH&XHUSRVGH3ROLFtDGHODV&RPXQLGDGHV$XWyQRPDVFRUUHVSRQGH
D$ORVyUJDQRVFRPSHWHQWHVGHFDGD&RPXQLGDG$XWyQRPDSUHYLDDXWRUL]DFLyQGHO
*RELHUQRGHOD1DFLyQ
E$ORVyUJDQRVFRPSHWHQWHVGHFDGD&RPXQLGDG$XWyQRPDSUHYLRLQIRUPHGHO&RQ
VHMRGH3ROtWLFDGH6HJXULGDGVLDVtHVWiSUHYLVWRHQORVUHVSHFWLYRV(VWDWXWRV
F$O&RQVHMRGH0LQLVWURVSUHYLDFRQVXOWDFRQHO'HOHJDGRGHO*RELHUQRHQOD&RPX
QLGDG$XWyQRPDVHJ~QOD/H\2UJiQLFD
/D&RQVWLWXFLyQ(VSDxRODFRQUHVSHFWRDODV3ROLFtDV/RFDOHV
D$WULEX\HDODV&RPXQLGDGHV$XWyQRPDVVyORFRPSHWHQFLDVGHFRRUGLQDFLyQGHODV
3ROLFtDV/RFDOHV
E$WULEX\HDODV&RPXQLGDGHV$XWyQRPDVVyORDTXHOODVFRPSHWHQFLDVTXHSUHYHDOD
FRUUHVSRQGLHQWHOH\RUJiQLFD
F$WULEX\HDODV&RPXQLGDGHV$XWyQRPDVQRVyORPHUDVFRPSHWHQFLDVGHFRRUGLQDFLyQ
VLQRWDPELpQWRGDVODVIDFXOWDGHVTXHHVWpQSUHYLVWDVHQODOH\RUJiQLFDFRUUHVSRQGLHQWH
/RV&XHUSRVGH3ROLFtDGHODV&RPXQLGDGHV$XWyQRPDVVRQ,QVWLWXWRV$UPD
GRVGHFDUiFWHU
D0LOLWDU
E&LYLO
F$XWyQRPR
/RVPLHPEURVGHORV&XHUSRVGHODV3ROLFtDV$XWyQRPDVGXUDQWHVXVVHUYL
FLRVGHEHUiQYHVWLUGHXQLIRUPH
D6LHPSUH
E6yORFXDQGRORHVWLPHQRSRUWXQRVHJ~QODQDWXUDOH]DGHOVHUYLFLR
F1RUPDOPHQWHVtH[FHSWRFXDQGRHVWpQDXWRUL]DGRVSRUOD-XQWDGH6HJXULGDGSDUD
KDFHUORGHSDLVDQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDHOHMHUFLFLRGHVXVFDUJRVORV0DQGRVGHODV3ROLFtDV$XWyQRPDVKDQ
GHVXSHUDUXQFXUVRHVSHFLDOKRPRORJDGRSRU
E/D-XQWDGH6HJXULGDG
F/DSURSLD&RPXQLGDG$XWyQRPD
(ODUWtFXORGHOD/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDGFUHD
HO&RQVHMRGH3ROtWLFDGH6HJXULGDGHOFXDOHVWDUiSUHVLGLGRSRUHO0LQLVWURGHO,Q
WHULRUHLQWHJUDGRSRU
D/RV&RQVHMHURVGH,QWHULRUR*REHUQDFLyQGHODV&RPXQLGDGHV$XWyQRPDV\ORV'H
OHJDGRVR6XEGHOHJDGRVGHO*RELHUQR
E/RV&RQVHMHURVGH,QWHULRUR*REHUQDFLyQGHODV&RPXQLGDGHV$XWyQRPDV\ORV-HIHV
GHORV&XHUSRVGH6HJXULGDGGHO(VWDGR
F/RV&RQVHMHURVGH,QWHULRUR*REHUQDFLyQGHODV&RPXQLGDGHV$XWyQRPDV\SRUXQ
Q~PHURLJXDOGHUHSUHVHQWDQWHVGHO(VWDGRGHVLJQDGRVSRUHO*RELHUQRGHOD1DFLyQ
(ORWRUJDPLHQWRGHODVOLFHQFLDVSDUDXWLOL]DUDUPDVGHIXHJRORVPLHPEURV
GHODV3ROLFtDV$XWyQRPDVGHTXLpQHVFRPSHWHQFLD"
D'HO*RELHUQRGHOD1DFLyQ
E'HO*RELHUQRGHOD&RPXQLGDG$XWyQRPDGHTXHVHWUDWH
F(VGHFLVLyQSHUVRQDOGHO3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDUHVSHFWLYD
(Q TXp (VWDWXWRV GH &RPXQLGDG $XWyQRPD HVWi SUHYLVWD OD FUHDFLyQ GH
&XHUSRVGH3ROLFtD"
D3DtV9DVFR&DWDOXxD0XUFLD9DOHQFLD&DQDULDV1DYDUUD\/D5LRMD
E3DtV9DVFR&DVWLOOD/D0DQFKD/D5LRMD&DQDULDV%DOHDUHV1DYDUUD\&DWDOXxD
F3DtV9DVFR&DWDOXxD*DOLFLD$QGDOXFtD9DOHQFLD&DQDULDV\1DYDUUD
/DILQDQFLDFLyQGHODV8QLGDGHVGHO&XHUSR1DFLRQDOGH3ROLFtDDGVFULWDVD
ODV&RPXQLGDGHV$XWyQRPDVVHUiVXIUDJDGD
D3RUHO(VWDGR
E3RUOD&RPXQLGDG$XWyQRPD
F3RUHO(VWDGR\OD&RPXQLGDG$XWyQRPDPHGLDQWHDFXHUGR
(QUHODFLyQFRQORHVWDEOHFLGRHQHODUWtFXORGHOD/H\2UJiQLFD
GHGHPDU]RDFWXDOPHQWHH[LVWHQ8QLGDGHV$GVFULWDVGHO&XHUSR1DFLRQDOGH
3ROLFtDHQODVVLJXLHQWHV&RPXQLGDGHV$XWyQRPDV
D*DOLFLD0DGULG\1DYDUUD
E$QGDOXFtD*DOLFLD\9DOHQFLD
F$QGDOXFtD$VWXULDV\1DYDUUD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DV3ROLFtDV(VWDWDO\$XWyQRPDGHEHUiQDFWXDUVLPXOWiQHDPHQWH
D(QFDVRGHDFFLGHQWHFDWiVWURIHRFDODPLGDGS~EOLFD
E(QFDVRGHJUDQGHVFRQFHQWUDFLRQHVKXPDQDV
F5HDOL]DQGRIXQFLRQHVGH3ROLFtD-XGLFLDO
9HODUSRUHOFXPSOLPLHQWRGHODVGLVSRVLFLRQHVTXHWLHQGDQDODFRQVHUYD
FLyQGHODQDWXUDOH]D\HOPHGLRDPELHQWHHVIXQFLyQ
D'HSUHVWDFLyQVLPXOWiQHDHLQGLIHUHQFLDGDHQWUHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR\ODVGHFDGD&RPXQLGDG$XWyQRPD
E&RQFDUiFWHUGHSURSLDGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
F&RQFDUiFWHUH[FOXVLYRGHODV3ROLFtDV/RFDOHVHQVXUHVSHFWLYDGHPDUFDFLyQ
/DV3ROLFtDV/RFDOHVVHFRQILJXUDQFRPR
D,QVWLWXWRV$UPDGRVGHQDWXUDOH]DFLYLO
E,QVWLWXWRVGHFDUiFWHUVHPLPLOLWDU
F&XHUSRVDXWyQRPRVHQWRGDVVXVIXQFLRQHV
4XLpQSXHGHDXWRUL]DUDOD3ROLFtD/RFDOSDUDTXHHQODHMHFXFLyQGHDOJX
QRVVHUYLFLRVSXHGDQYHVWLUGHSDLVDQR"
D(O$OFDOGHUHVSHFWLYR
E(O'HOHJDGRR6XEGHOHJDGRGHO*RELHUQR
F(O-HIHGHOD3ROLFtD/RFDO
(Q FDVR GH FRQFXUULU HQ XQ VHUYLFLR GH DFWXDFLyQ FRQMXQWD \ VLPXOWiQHD
PLHPEURV GH ODV 3ROLFtDV (VWDWDO \ $XWyQRPD TXLpQ DVXPH OD GLUHFFLyQ GH ODV
RSHUDFLRQHV"
D/D3ROLFtD$XWyQRPD
E/D3ROLFtD(VWDWDO
F4XLpQGHVLJQHHO6XEGHOHJDGRGHO*RELHUQR
/D 3ROLFtD /RFDO HQ HO iPELWR GH XQD &RPXQLGDG $XWyQRPD GHEHUi VHU
FUHDGDSRU
D(O3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPDVHJ~QHO(VWDWXWRGH$XWRQRPtD
E(O*RELHUQRGHOD&RPXQLGDG$XWyQRPDSUHYLDDSUREDFLyQGHO0LQLVWHULRGHO,QWHULRU
F/RV0XQLFLSLRVUHVSHFWLYRVHQHOiPELWRGHVXWHUULWRULR
/DV3ROLFtDV/RFDOHVGHSHQGHUiQ
D'HO0LQLVWURGHO,QWHULRUVDOYRHQFDVRGHJXHUUDTXHGHSHQGHUiQGHO0LQLVWURGH
'HIHQVDSRUVHU,QVWLWXWRVDUPDGRV
E'HORV$\XQWDPLHQWRUHVSHFWLYRV
F'HO3UHVLGHQWHGHOD&RPXQLGDG$XWyQRPD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XLpQFRRUGLQDODV3ROLFtDV/RFDOHV"
D(O$\XQWDPLHQWR
E(O$OFDOGH
F/DUHVSHFWLYD&RPXQLGDG$XWyQRPD
'H TXLpQ HV FRPSHWHQFLD HO RUGHQDU VHxDOL]DU \ GLULJLU HO WUiILFR HQ HO
FDVFRXUEDQR"
D'HOD*XDUGLD&LYLOGH7UiILFR
E'HOD3ROLFtD/RFDO
F'HDPERV&XHUSRVLQGLVWLQWDPHQWH
,QVWUXLUDWHVWDGRVSRUDFFLGHQWHVGHFLUFXODFLyQGHQWURGHOFDVFRXUEDQR
HVXQDIXQFLyQGH
E/RV&XHUSRVGH3ROLFtDGHSHQGLHQWHVGHODV&RPXQLGDGHV$XWyQRPDV
F/RV&XHUSRVGH3ROLFtDGHSHQGLHQWHVGHODV&RUSRUDFLRQHV/RFDOHV
(QORVFDVRVHQTXHOD3ROLFtD/RFDOLQVWUX\HDWHVWDGRVSRUDFFLGHQWHVGH
WUiILFR
D/RVSRQGUiDGLVSRVLFLyQGHO-XH]
E/RVFRPXQLFDUiQHFHVDULDPHQWHDODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
F3URVHJXLUiODLQVWUXFFLyQGHODWHVWDGRKDVWDHOOtPLWHGHVXVFRPSHWHQFLDV
/RVPLHPEURVGHOD3ROLFtD$XWyQRPDDFWXDUiQ
D6LHPSUHHQHOiPELWRGHOD&RPXQLGDG$XWyQRPD
E(QHOiPELWRPXQLFLSDOFRUUHVSRQGLHQWH
F(QHOiPELWRGHVX&RPXQLGDGVDOYRUHTXHULPLHQWRGHODVDXWRULGDGHVHVWDWDOHV
6REUHODEDVHGHODUWtFXORGHOD&RQVWLWXFLyQODVHJXULGDGS~EOLFDHV
FRPSHWHQFLD
E'HFDGD3ROLFtD$XWyQRPDHQVX&RPXQLGDG
F([FOXVLYDGHO(VWDGRVLQSHUMXLFLRGHODVGLVSRVLFLRQHVHVWDWXWDULDVGHODV&RPXQL
GDGHV$XWyQRPDV
(ODFWXDOPRGHORSROLFLDOHVSDxROVHFRQWHPSODHQ
E/D/H\GH%DVHVGH5pJLPHQ/RFDO
F/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRVGHO+RPEUH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(ODFWXDO&XHUSR1DFLRQDOGH3ROLFtDVHIRUPySRUODIXVLyQGH
D(O&XHUSR*HQHUDOGH3ROLFtD\OD3ROLFtD$UPDGD
E(O&XHUSR6XSHULRUGH3ROLFtD\HOGHOD3ROLFtD1DFLRQDO
F(O&XHUSR6XSHULRUGH3ROLFtD\OD3ROLFtD$UPDGD
/D/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDGFRQILJXUDXQDRUJDQL
]DFLyQSROLFLDOHQHODVSHFWRHVWDWXWDULREDVDGRHQORVFULWHULRVGH
D(ILFDFLD\UHVSRQVDELOLGDG
E5HVSRQVDELOLGDG\SURIHVLRQDOLGDG
F3URIHVLRQDOLGDG\HILFDFLD
6HSXHGHOOHJDUDODUHVROXFLyQGHILQLWLYDGHXQH[SHGLHQWHGLVFLSOLQDULRD
XQPLHPEURGHOD)XHU]DV\&XHUSRVGH6HJXULGDGSRUFX\RVKHFKRVHVWiHQFXUVR
XQSURFHGLPLHQWRSHQDO"
D6tVLDVtORGLVSRQHHO,QVWUXFWRUGHOH[SHGLHQWH
E$QWHVWLHQHTXHH[LVWLUVHQWHQFLDILUPHMXGLFLDO
F6LHVSRUGHOLWRVtSHURVLHVSRUIDOWDQR
(QXQDSURYLQFLDTXHQRVHDODFDSLWDOLGDGGHOD&RPXQLGDG$XWyQRPDUHV
SHFWLYDODV)XHU]DV\&XHUSRVGH6HJXULGDGHVWDUiQEDMRODGLUHFFLyQ
D'HOD$XWRULGDGMXGLFLDO
E'HO6HFUHWDULRGH(VWDGRGHO,QWHULRU
F'HO6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLD
/D/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDGHVWDEOHFHXQDGLV
WULEXFLyQ PDWHULDO GH FRPSHWHQFLDV HQWUH VXV LQWHJUDQWHV VHxDOH GH HQWUH ODV
VLJXLHQWHVODTXHQRVHDFRPSHWHQFLDGHO&XHUSR1DFLRQDOGH3ROLFtD
D/DH[SHGLFLyQGHO'RFXPHQWR1DFLRQDOGH,GHQWLGDG\ORVSDVDSRUWHV
E/DVSUHYLVWDVHQODOHJLVODFLyQVREUHLQPLJUDFLyQ
F/DFXVWRGLDGHORVDHURSXHUWRV
1RVHFRQVLGHUDIXQFLyQSURSLDGHOD3ROLFtD$XWyQRPD&DWDODQD
D(OXVRGHODFRDFFLyQSDUDHMHFXWDUGLVSRVLFLRQHVIRU]RVDVGHGLFKD&RPXQLGDG
E/DYLJLODQFLDGHODVGHSHQGHQFLDVGHOD&RPXQLGDG$XWyQRPD
F/DYLJLODQFLDGHORVHVSDFLRVS~EOLFRV
&XiQGR\GyQGHHMHUFHQVXVIXQFLRQHVODV)XHU]DV\&XHUSRVGH6HJXULGDG"
D6LHPSUHHQVXOXJDUGHGHVWLQR
E6LHPSUH\HQFXDOTXLHUWLHPSR\OXJDUVHKDOODUHQRQRGHVHUYLFLR
F6yORFXDQGRHVWpQGHVHUYLFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HHQWUHODVVLJXLHQWHVUHVSXHVWDVVHxDOHODTXHVHDIDOVDGHQWURGHORV
3ULQFLSLRV%iVLFRVGH$FWXDFLyQ\UHVSHFWRDOWUDWDPLHQWRGHGHWHQLGRVORVPLHP
EURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D'HEHUiQLGHQWLILFDUVHFRPRWDOHVGHVSXpVGHODGHWHQFLyQ
E9HODUiQSRUODLQWHJULGDGItVLFDGHORVGHWHQLGRV
F2EVHUYDUiQGLOLJHQWHPHQWHORVSOD]RVH[LJLGRV
&RQDUUHJORDTXp3ULQFLSLR%iVLFRGH$FWXDFLyQGHEHUiOOHYDUVHDFDEROD
XWLOL]DFLyQGHODVDUPDVUHJODPHQWDULDVSRUSDUWHGHORVPLHPEURVGHODV)XHU]DV\
&XHUSRVGH6HJXULGDG
D$GHFXDFLyQDO2UGHQDPLHQWR-XUtGLFR
(OPi[LPRyUJDQRGHUHSUHVHQWDFLyQVLQGLFDOGHQWURGHO&XHUSR1DFLRQDO
GH3ROLFtDHV
D/D-XQWDGH6HJXULGDGGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
E(O&RQVHMRGH3ROLFtD
F(O&RQVHMRGH3ROtWLFDGH6HJXULGDG
3RUFXiQWRVPLHPEURVHVWiLQWHJUDGRHO&RPLWpGH([SHUWRVGHQWURGHO
&RQVHMRGH3ROtWLFDGH6HJXULGDG"
D6HLV
E6LHWH
F2FKR
/DFRRSHUDFLyQDODUHVROXFLyQDPLVWRVDGHORVFRQIOLFWRVSULYDGRVFXDQGR
VHDQUHTXHULGRVSDUDHOORHVHMHUFLGDSRUODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO
(VWDGR\ODVGHODV&RPXQLGDGHV$XWyQRPDV
D&RQFDUiFWHUGHSURSLDVSRUORV&XHUSRVGH3ROLFtDGHODV&RPXQLGDGHV$XWyQRPDV
E(QFRODERUDFLyQFRQODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
F'HSUHVWDFLyQVLPXOWiQHDHLQGLIHUHQFLDGDFRQODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR
/DDFWXDFLyQGHODV3ROLFtDV/RFDOHVFRPR3ROLFtD-XGLFLDOORHVHQFRQFHS
WRGH
DUJDQRVRULJLQDULDPHQWHFRPSHWHQWHVHQHVWDPDWHULD
E([FOXVLYLGDGFRQUHVSHFWRDOUHVWRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
F&RODERUDGRUGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\GHODV&RPXQLGDGHV
$XWyQRPDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HTXLpQHVFRPSHWHQFLDH[FOXVLYDODVHJXULGDGS~EOLFD"
E'HO(VWDGR
F'HO*RELHUQRGHOD1DFLyQ
/DDSUREDFLyQGHORVSODQHVGHFRRUGLQDFLyQHQPDWHULDGHVHJXULGDG\GH
LQIUDHVWUXFWXUDSROLFLDOHVFRPSHWHQFLDGH
E/D-XQWDGH6HJXULGDG
F(O&RQVHMR1DFLRQDOGH6HJXULGDG
$ODFDWHJRUtDVXSHULRUGHOD(VFDOD%iVLFDVHDFFHGHSRU
D&RQFXUVRGHPpULWRV
E2SRVLFLyQ
F3URPRFLyQLQWHUQD
/D3ROLFtD(VWDWDO\ODGHOD*HQHUDOLGDGGH&DWDOXxDVRQFRRUGLQDGDVSRU
E/D*HQHUDOLGDGGH&DWDOXxD
F/D-XQWDGH6HJXULGDG
,QGLTXH FXiO GH HQWUH ORV VLJXLHQWHV FRQVWLWX\H XQ 3ULQFLSLR %iVLFR GH
$FWXDFLyQGHORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
D0DQWHQHU\UHVWDEOHFHUHQVXFDVRHORUGHQ\ODVHJXULGDGFLXGDGDQD
E&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOHFLGRV
HQODOH\
F$X[LOLDU\SURWHJHUDODVSHUVRQDV\DVHJXUDUODFRQVHUYDFLyQ\FXVWRGLDGHORVELHQHV
TXHVHHQFXHQWUHQHQVLWXDFLyQGHSHOLJURSRUFXDOTXLHUFDXVD
3XHGHQ DFWXDU VLPXOWiQHDPHQWH HQ XQ PLVPR WHUULWRULR ODV )XHU]DV \
&XHUSRVGH6HJXULGDGGHO(VWDGRODV3ROLFtDV/RFDOHV\ODV$XWRQyPLFDV"
D1RVLDFW~DQODVGHO(VWDGRODVRWUDVGHEHQDEVWHQHUVHGHKDFHUOR
E6tSHUREDMRHOPDQGRGHPiVFDWHJRUtD
/RV9LJLODQWHVGH6HJXULGDGVHJ~QOD/H\2UJiQLFDGH)XHU]DV\
&XHUSRVGH6HJXULGDG
D)RUPDQSDUWHGHOD3ROLFtD/RFDO
E'HSHQGHQGHOD3ROLFtD$XWyQRPD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D3URYLQFLDO
E,QVXODU
F7HUULWRULDO
9HODUSRUODSURWHFFLyQ\VHJXULGDGGHDOWDVSHUVRQDOLGDGHVGHO(VWDGRHV
IXQFLyQ
D([FOXVLYDGHO&XHUSR1DFLRQDOGH3ROLFtD
E([FOXVLYDGHO&XHUSRGHOD*XDUGLD&LYLO
F&RP~QDDPERV&XHUSRV
'H HQWUH ODV VLJXLHQWHV VHxDOH OD TXH QR VHD FRPSHWHQFLD GHO &XHUSR
1DFLRQDOGH3ROLFtD
D/DLQYHVWLJDFLyQ\SHUVHFXFLyQGHORVGHOLWRVUHODFLRQDGRVFRQODGURJD
E/RUHIHUHQWHDH[WUDQMHUtDUHIXJLR\DVLORH[WUDGLFLyQH[SXOVLyQHPLJUDFLyQHLQPL
JUDFLyQ
/DVOLEHUWDGHVGHLQIRUPDFLyQ\H[SUHVLyQHQFXHQWUDQHQWUHRWURVOtPLWHV
HVSHFLDOHVHQ
D(OVHFUHWRGHODVFRPXQLFDFLRQHV
F/DFRQFLHQFLDLQGLYLGXDO
/D3ROLFtDGHEHFRQVLGHUDUVHFRPR
E/DJDUDQWtDGHORUGHQLQWHUQRGHOSDtV
F(OUHVSDOGRGHOSRGHUHMHFXWLYR
6LGHXQGRFXPHQWRGHEHHQWHQGHUOD3ROLFtDSRUVHUGHVXFRPSHWHQFLD
DOVHUSUHVHQWDGRSRUXQFLXGDGDQRHQXQDGHSHQGHQFLDGHOD*XDUGLD&LYLOpVWD
D/RUHFKD]DUiHLQGLFDUiDOLQWHUHVDGRTXHORSUHVHQWHHQXQD&RPLVDUtDGH3ROLFtD
F/RDGPLWLUiVLORGHVHDSHURQRWLHQHREOLJDFLyQGHKDFHUOR
(O6HFUHWDULRGH(VWDGRGH6HJXULGDGGHSHQGHGLUHFWDPHQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'yQGHFRUUHVSRQGHDO&XHUSR1DFLRQDOGH3ROLFtDHMHUFLWDUVXVIXQFLRQHV"
D(QODVFDSLWDOHVGHSURYLQFLDVHQORVWpUPLQRVPXQLFLSDOHV\Q~FOHRVXUEDQRVTXHHO
*RELHUQRGHWHUPLQH
E(QWRGRHOWHUULWRULRQDFLRQDO
F(QODVFDSLWDOHVGHSURYLQFLD
$TXLpQFRUUHVSRQGHODUHVSRQVDELOLGDGGHODVUHODFLRQHVGHFRODERUDFLyQ
\DX[LOLRFRQODV$XWRULGDGHVSROLFLDOHVGHRWURVSDtVHVFRQIRUPHDORHVWDEOHFLGR
HQ7UDWDGRV\$FXHUGRV,QWHUQDFLRQDOHV"
E$O-HIHGHOD2ILFLQDGH,QWHUSRO
F$OUHSUHVHQWDQWHSROLFLDOHQHO0LQLVWHULRGH$VXQWRV([WHULRUHV\&RRSHUDFLyQ
'yQGHKDQGHFXPSOLUODSULVLyQSUHYHQWLYDHQVXFDVRORVPLHPEURVGHO
D(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVHVSHFLDOHV
E(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVPLOLWDUHVSRUVXFDUiFWHUGH$JHQWHVGHOD$XWRULGDG
F(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVRUGLQDULRVSHURVHSDUDGRVGHORVGHPiVSUHVRV
&XDQGR XQ IXQFLRQDULR GHO &XHUSR 1DFLRQDO GH 3ROLFtD VHD HO VXSXHVWR
DXWRUGHXQDIDOWDSUHYLVWDHQHO&yGLJR3HQDOHVFRPSHWHQWHSDUDODLQVWUXFFLyQ\
IDOORGHOFDVR
D(O-XH]'HFDQR
F/D$XGLHQFLD3URYLQFLDO
/RVSXHVWRVGHVHUYLFLRHQODVUHVSHFWLYDVFDWHJRUtDVGHO&XHUSR1DFLRQDO
GH3ROLFtDVHSURYHHUiQ
D3RUSURPRFLyQLQWHUQD
E3RUFRQFXUVRRSRVLFLyQ
(OLQJUHVRHQHO&XHUSR1DFLRQDOGH3ROLFtDVHOOHYDUiDFDERFRQIRUPHD
ORVSULQFLSLRVGH
E2EMHWLYLGDGPpULWR\FDSDFLGDG
F$QWLJHGDGPpULWR\FDSDFLGDG
(O7tWXOR7HUFHURGHOD/H\2UJiQLFDGHGHPDU]RHVWiGHGLFDGR
D$ODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
E$ODV3ROLFtDV/RFDOHV
F$ODV3ROLFtDVGHODV&RPXQLGDGHV$XWyQRPDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OPDQWHQLPLHQWRGHOD6HJXULGDG3~EOLFDVHOOHYDUiDFDERSRUODVGLVWLQ
WDV$GPLQLVWUDFLRQHV3~EOLFDV
D$WUDYpVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
E3RUODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
F3RUORVyUJDQRVGHFRRUGLQDFLyQ\FRODERUDFLyQTXHVHHVWDEOHFHQHQODPHQFLRQDGD
OH\
(OPDQWHQLPLHQWRGHODVHJXULGDGS~EOLFDHVFRPSHWHQFLD
D'HODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
E'HO0LQLVWHULRGHO,QWHULRU
F'HO*RELHUQR
&XiQWDV'LVSRVLFLRQHV)LQDOHVWLHQHOD/H\2UJiQLFDGH)XHU]DV\&XHUSRV
GH6HJXULGDG"
D&XDWUR
E&LQFR
F7UHV
/DV'LVSRVLFLRQHV*HQHUDOHVGHOD/H\GH)XHU]DV\&XHUSRVGH6HJXULGDG
ORV3ULQFLSLRV%iVLFRVGH$FWXDFLyQ\ODV'LVSRVLFLRQHV(VWDWXWDULDV&RPXQHVGHOD
PLVPDVHDSOLFDQ
D6yORDODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
E6yORDODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\DODV3ROLFtDV$XWyQRPDV
F$WRGDVODV)XHU]D\&XHUSRVGH6HJXULGDG
/RV 3ULQFLSLRV %iVLFRV GH $FWXDFLyQ GH OD /H\ GH )XHU]DV \ &XHUSRV GH
6HJXULGDGVLJXHQODVOtQHDVPDUFDGDVSRUODV5HVROXFLRQHVGHGH
D/D$VDPEOHD3DUODPHQWDULDGHO&RQVHMRGH(XURSD\OD'HFODUDFLyQ8QLYHUVDOGHORV
'HUHFKRV+XPDQRV
E/D'HFODUDFLyQGHORV'HUHFKRV+XPDQRV\OD$VDPEOHD1DFLRQDOGHODV1DFLRQHV
8QLGDV
F /D $VDPEOHD 3DUODPHQWDULD GHO &RQVHMR GH (XURSD \ OD $VDPEOHD *HQHUDO GH ODV
1DFLRQHV8QLGDV
(VFRP~Q SDUD WRGDV ODV )XHU]DV\&XHUSRV GH6HJXULGDG VHJ~QOD/H\
ORUHODWLYRD
D/DV'LVSRVLFLRQHV(VWDWXWDULDV
E/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDVSHFWRRFDUiFWHULPSRUWDQWHGHODXQLILFDFLyQGHO&XHUSR1DFLRQDOGH
3ROLFtDHV
D(OFDUiFWHUFLYLOTXHVHGLRDOFLWDGR&XHUSR
E/DLQGHSHQGHQFLDRUJiQLFDGHO0LQLVWHULRGHO,QWHULRU
F/DVXSUHVLyQGHOFDUiFWHUFLYLODQWHULRUDODXQLILFDFLyQ
/D/H\GH)XHU]DV\&XHUSRVGH6HJXULGDGFRQVWDGHXQWRWDOGH
D&XDUHQWD\FLQFRDUWtFXORV
E&LQFXHQWD\FXDWURDUWtFXORV
F6HVHQWD\FLQFRDUWtFXORV
&XiOGHODVVLJXLHQWHVDILUPDFLRQHVQRHVFRUUHFWD"
D/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQGHOD/H\VRQGHDSOLFDFLyQVyORDODV
)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
E(OPDQWHQLPLHQWRGHODVHJXULGDGS~EOLFDFRUUHVSRQGHDO*RELHUQRDWUDYpVGHODV
)XHU]DV\&XHUSRVGH6HJXULGDG
F(QHOPDQWHQLPLHQWRGHODVHJXULGDGS~EOLFDSDUWLFLSDQWRGDVODV$GPLQLVWUDFLRQHV
3~EOLFDV
'HHQWUHODVVLJXLHQWHVRSFLRQHVGyQGHVHSXHGHFRQVWLWXLUXQD-XQWDGH
6HJXULGDG"
D(QWRGDVODV&RPXQLGDGHV$XWyQRPDV
E6yORHQODV&RPXQLGDGHV$XWyQRPDVTXHGLVSRQJDQGH&XHUSRVGH3ROLFtDSURSLRV
F(QODV&RPXQLGDGHV$XWyQRPDVFX\RV(VWDWXWRVGLVSRQJDQRSUHYHDQODFUHDFLyQ
GH&XHUSRVSURSLRVGH3ROLFtD
)XQFLRQHVGHO&RQVHMRGH3ROLFtD
D/DPHGLDFLyQ\FRQFLOLDFLyQHQFDVRVGHFRQIOLFWRVFROHFWLYRV
E,QVWUXLUH[SHGLHQWHVGLVFLSOLQDULRVFRQWUDPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtD
SRUODFRPLVLyQGHIDOWDVPX\JUDYHV
F1LQJXQDHVFRUUHFWD
/D/H\GH)XHU]DV\&XHUSRVGH6HJXULGDG
D7LHQHFDUiFWHUGHRUGLQDULDHQFDVLVXWRWDOLGDG
E1RHVRUJiQLFDHQVXWRWDOLGDG
F(VRUJiQLFDHQVXWRWDOLGDG
(QOD/H\GHGHPDU]RDTXpVHGHGLFDHO7tWXOR7HUFHUR"
D$ODV3ROLFtDV/RFDOHV
E$ODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D/H\GH)XHU]DV\&XHUSRVGH6HJXULGDGFXiQWDV'LVSRVLFLRQHV)LQDOHV
WLHQH"
D&XDWUR
E&LQFR
F7UHV
(QOD/H\VHxDOHORTXHVHDFRP~QSDUDWRGDVODV)XHU]DV\&XHU
SRVGH6HJXULGDG"
D/DV'LVSRVLFLRQHV(VWDWXWDULDV
E/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQ
&XiOGHORVVHxDODGRVDFRQWLQXDFLyQQRVHLQFOX\HGHQWURGHORV3ULQFL
SLRV%iVLFRVGH$FWXDFLyQHQUHODFLyQFRQOD&RPXQLGDG"
D,PSHGLUHQHOHMHUFLFLRGHVXVIXQFLRQHVFXDOTXLHUSUiFWLFDDEXVLYDRGLVFULPLQDWRULD
TXHLPSOLTXHYLROHQFLDItVLFDRPRUDO
E $FWXDU HQ HO FXPSOLPLHQWR GH VXV IXQFLRQHV FRQ DEVROXWD QHXWUDOLGDG SROtWLFD H
LPSDUFLDOLGDG\HQFRQVHFXHQFLDVLQGLVFULPLQDFLyQDOJXQDSRUUD]yQGHUD]DUHOLJLyQX
RSLQLyQ
F$FWXDUFRQODGHFLVLyQQHFHVDULD\VLQGHPRUDSDUDHYLWDUXQGDxRJUDYHHLUUHSDUDEOH
/RVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDGHQHOHMHUFLFLRGH
VXV IXQFLRQHV GHEHUiQ XWLOL]DU ORV PHGLRV D VX DOFDQFH SHUR GHEHUiQ UHJLUVH DO
KDFHUOR
D'HDFXHUGRFRQORHVWDEOHFLGRHQODV'LVSRVLFLRQHV(VWDWXWDULDVGHFDUiFWHUJHQHUDO
E'HDFXHUGRFRQORVSULQFLSLRVGHFRQJUXHQFLDRSRUWXQLGDG\SURSRUFLRQDOLGDG
F'HDFXHUGRFRQORVSULQFLSLRVGHREHGLHQFLDGHELGDMHUDUTXtD\VXERUGLQDFLyQ
&RQFXiOGHORV3ULQFLSLRV%iVLFRVGH$FWXDFLyQHVWiUHODFLRQDGDODDF
WXDFLyQSROLFLDOOOHYDGDDFDERFRQLQWHJULGDG\GLJQLGDG"
D(ORUGHQDPLHQWRMXUtGLFR
E/D&RPXQLGDG
F(OWUDWDPLHQWRFRQGHWHQLGRV
(O&RQVHMRGH3ROtWLFDGH6HJXULGDGHVFRPSHWHQWHSDUD
D$SUREDUGLUHFWLYDV\UHFRPHQGDFLRQHVGHFDUiFWHUJHQHUDO
E,QIRUPDUORV&RQYHQLRVGH&RRSHUDFLyQHQPDWHULDGHVHJXULGDGHQWUHHO(VWDGR\
ODV&RPXQLGDGHV$XWyQRPDV
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
F(O0LQLVWURGH-XVWLFLD
D$xR
F$O&RQVHMRGH3ROtWLFDGH6HJXULGDG
E2UJiQLFD
D$VHUYLFLRVHVSHFLDOHV
E/H\2UJiQLFDGHGHPD\R
F,GHQWLILFDUVHFRPRWDOHVIXQFLRQDULRV
E6LHPSUH\HQWRGROXJDUVHHQFXHQWUHQRQRGHVHUYLFLRHQGHIHQVDGHODOH\\
GHODVHJXULGDGFLXGDGDQD
F6XV-HIHVQDWXUDOHV
E3RUTXHVXVPLHPEURVVHLQWHJUDQHQ(VFDODV\&DWHJRUtDV
D(QHO&RQVHMRGH3ROtWLFDGH6HJXULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E$O*RELHUQR
D$O-X]JDGRGH,QVWUXFFLyQ
D(O&RQVHMRGH3ROLFtD
D$OSULQFLSLRGHFRRSHUDFLyQUHFtSURFD
E6tSDUDTXHOD*XDUGLD&LYLOORUHPLWDDOD3ROLFtD
F8QD-XQWDGH6HJXULGDG
F7RGDVODVDQWHULRUHV
E(OPDQWHQLPLHQWRGHODVHJXULGDGFLXGDGDQD\HORUGHQS~EOLFR
E7LHQHQHVSHFLDOREOLJDFLyQGHFRODERUDUFRQODV)XHU]DV\&XHUSRVGH6HJXULGDG
E/RVUHSUHVHQWDQWHVGHODV3ROLFtDV/RFDOHV
E(VHOyUJDQRTXHLQIRUPDORV&RQYHQLRVGH&RRSHUDFLyQHQPDWHULDGHVHJXULGDG
HQWUHHO(VWDGR\ODV&RPXQLGDGHV$XWyQRPDV
D/RV*XDUGDV9LJLODQWHV$JHQWHVR$OJXDFLOHV
E/D-XQWDGH6HJXULGDG
E/H\RUJiQLFD
F/D3UHVLGHQFLDHVFRPSDUWLGDSRUORVGRVDQWHULRUHV
D1HXWUDOHLPSDUFLDO
F$FWXDUVLHPSUHHQEHQHILFLRGHO*RELHUQR
D&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOH
FLGRVSRUODOH\
F$JHQWHVGHOD$XWRULGDG
D3URSRUFLRQDUHQWRGDVVXVLQWHUYHQFLRQHVODPHQRULQIRUPDFLyQSRVLEOHVREUH
ODVFDXVDV\ILQDOLGDGGHODVPLVPDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F&RQJUXHQFLDRSRUWXQLGDG\SURSRUFLRQDOLGDGHQODXWLOL]DFLyQGHORVPHGLRVD
VXDOFDQFH
F6LDFW~DQGHSDLVDQRSRGUiQGHWHQHUDFXDOTXLHUFLXGDGDQRTXHKXELHUDFRPH
WLGRXQGHOLWR8QDYH]HQOD&RPLVDUtDVLHVSUHFLVRVHSRGUiQLGHQWLILFDUFRPR$JHQWHV
SROLFLDOHV
E1R
D'HEHDFWXDUHQWRGRFDVRGHQWURGHVXVSRVLELOLGDGHV
D7HQGUiFDUiFWHUSURIHVLRQDO\SHUPDQHQWH
E(O&RPLWpGH([SHUWRV
E1RHVWpQRQRGHVHUYLFLR
E(OyUJDQRFROHJLDGRTXHHVWDEOHFHODVIRUPDVGHFRODERUDFLyQHQWUHORVPLHP
EURVGHORV&XHUSRVGH6HJXULGDGTXHDFW~DQVREUHXQPLVPR0XQLFLSLR
D(QORVVXSXHVWRVGHDWHQWDGRPHGLDQWHDUPDVGHIXHJRH[SORVLYRVXRWURVPH
GLRVGHDJUHVLyQGHDQiORJDSHOLJURVLGDG
D/D-XULVGLFFLyQRUGLQDULDH[FHSWRORVVXSXHVWRVHQTXHVHDFRPSHWHQWHOD-X
ULVGLFFLyQPLOLWDU
D2UJiQLFDPHQWHGHO0LQLVWHULRGHO,QWHULRU\IXQFLRQDOPHQWHGHORV-XHFHV7ULEX
QDOHV\0LQLVWHULR)LVFDO
F3XHGHVROLFLWDUGHO*RELHUQRGHOD1DFLyQODDGVFULSFLyQGH8QLGDGHVGHO&XHUSR
1DFLRQDOGH3ROLFtD
F6LDVtHVWiSUHYLVWRHQVXV(VWDWXWRVGH$XWRQRPtD
E/D&RPXQLGDG$XWyQRPDUHVSHFWLYD
D(QWRGRHOWHUULWRULRQDFLRQDO
E(O&RQVHMRGH3ROtWLFDGH6HJXULGDG
F(O3UHVLGHQWHGHOD$XGLHQFLD3URYLQFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F&XPSOLUODRUGHQUHFLELGDVHDFXDOVHDVXFRQWHQLGR
F'HODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
D'H6HJXULGDG
D(O$OFDOGH
E,QVWUXLUHOVXPDULRSRUORVGHOLWRVPHQRVJUDYHVHQTXHLQWHUYHQJDQ
F$OD-XQWDGH6HJXULGDG
D/DDGHFXDFLyQDORUGHQDPLHQWRMXUtGLFR
F1LQJXQDGHODVWUHVUHVSXHVWDVHVFRUUHFWD
D&RRSHUDFLyQUHFtSURFD\FRRUGLQDFLyQ
D5HFLEHQODVyUGHQHVGLUHFWD\H[FOXVLYDPHQWHGHORV-XHFHV7ULEXQDOHV\0LQLV
WHULR)LVFDO
D(O&RQVHMRGH(XURSD
D(O&XHUSRTXHKD\DUHDOL]DGRODVSULPHUDVDFWXDFLRQHVKDVWDTXHGHFLGDQODV
DXWRULGDGHVJXEHUQDWLYDV
E$WRGRVORVPLHPEURVGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
F6tSXHGHKDFHUOR
F/RV0LQLVWURVGH,QWHULRU\'HIHQVDFRQMXQWDPHQWH
E(O5HDO'HFUHWRGHGHMXQLR
E'HO0LQLVWHULRGHO,QWHULRURtGRHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F/RV-XHFHV7ULEXQDOHV\0LQLVWHULR)LVFDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E0LQLVWHULRGHO,QWHULRURtGRHO)LVFDO*HQHUDOGHO(VWDGR
E(VWDUHQSRVHVLyQGHOFRUUHVSRQGLHQWH'LSORPD
D6tVLHPSUH
E$ORVyUJDQRVFRPSHWHQWHVGHFDGD&RPXQLGDG$XWyQRPDSUHYLRLQIRUPHGHO
&RQVHMRGH3ROtWLFDGH6HJXULGDGVLDVtHVWiSUHYLVWRHQORVUHVSHFWLYRV(VWDWXWRV
F$WULEX\HDODV&RPXQLGDGHV$XWyQRPDVQRVyORPHUDVFRPSHWHQFLDVGHFRRU
GLQDFLyQVLQRWDPELpQWRGDVODVIDFXOWDGHVTXHHVWpQSUHYLVWDVHQODOH\RUJiQLFDFRUUHV
SRQGLHQWH
E&LYLO
F1RUPDOPHQWHVtH[FHSWRFXDQGRHVWiQDXWRUL]DGRVSRUOD-XQWDGH6HJXULGDG
SDUDKDFHUORGHSDLVDQR
F/RV&RQVHMHURVGH,QWHULRUR*REHUQDFLyQGHODV&RPXQLGDGHV$XWyQRPDV\SRU
XQQ~PHURLJXDOGHUHSUHVHQWDQWHVGHO(VWDGRGHVLJQDGRVSRUHO*RELHUQRGHOD1DFLyQ
F3DtV9DVFR&DWDOXxD*DOLFLD$QGDOXFtD9DOHQFLD&DQDULDV\1DYDUUD
F3RUHO(VWDGR\OD&RPXQLGDG$XWyQRPDPHGLDQWHDFXHUGR
E$QGDOXFtD*DOLFLD\9DOHQFLD
D(QFDVRGHDFFLGHQWHFDWiVWURIHRFDODPLGDGS~EOLFD
D'HSUHVWDFLyQVLPXOWiQHDHLQGLIHUHQFLDGDHQWUHODV)XHU]DV\&XHUSRVGH6H
JXULGDGGHO(VWDGR\ODVGHFDGD&RPXQLGDG$XWyQRPD
D,QVWLWXWRVDUPDGRVGHQDWXUDOH]DFLYLO
E(O'HOHJDGRR6XEGHOHJDGRGHO*RELHUQR
E/D3ROLFtD(VWDWDO
F/RV0XQLFLSLRVUHVSHFWLYRVHQHOiPELWRGHVXWHUULWRULR
E'HORV$\XQWDPLHQWRVUHVSHFWLYRV
F/DUHVSHFWLYD&RPXQLGDG$XWyQRPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HOD3ROLFtD/RFDO
F/RV&XHUSRVGH3ROLFtDGHSHQGLHQWHVGHODV&RUSRUDFLRQHV/RFDOHV
E /RV FRPXQLFDUi QHFHVDULDPHQWH D ODV )XHU]DV \ &XHUSRV GH 6HJXULGDG GHO
(VWDGR
F(QHOiPELWRGHVX&RPXQLGDGVDOYRUHTXHULPLHQWRGHODVDXWRULGDGHVHVWDWDOHV
F([FOXVLYDGHO(VWDGRVLQSHUMXLFLRGHODVGLVSRVLFLRQHVHVWDWXWDULDVGHODV&R
PXQLGDGHV$XWyQRPDV
E(O&XHUSR6XSHULRUGH3ROLFtD\HOGHOD3ROLFtD1DFLRQDO
F3URIHVLRQDOLGDG\HILFDFLD
E$QWHVWLHQHTXHH[LVWLUVHQWHQFLDILUPHMXGLFLDO
F'HO6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLD
F/DFXVWRGLDGHORVDHURSXHUWRV
F/DYLJLODQFLDGHORVHVSDFLRVS~EOLFRV
E6LHPSUH\HQFXDOTXLHUWLHPSR\OXJDUVHKDOODUHQRQRGHVHUYLFLR
D'HEHUiQLGHQWLILFDUVHFRPRWDOHVGHVSXpVGHODGHWHQFLyQ
E(O&RQVHMRGH3ROLFtD
F2FKR
F'HSUHVWDFLyQVLPXOWiQHDHLQGLIHUHQFLDGDFRQODV)XHU]DV\&XHUSRVGH6HJX
ULGDGGHO(VWDGR
F&RODERUDGRUGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\GHODV&RPX
QLGDGHV$XWyQRPDV
E'HO(VWDGR
F3URPRFLyQLQWHUQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F/D-XQWDGH6HJXULGDG
E&RODERUDUFRQOD$GPLQLVWUDFLyQGH-XVWLFLD\DX[LOLDUODHQORVWpUPLQRVHVWDEOH
FLGRVHQODOH\
F7HUULWRULDO
F&RP~QDDPERV&XHUSRV
E/DSURWHFFLyQGHODMXYHQWXG\GHODLQIDQFLD
D(QODVFDSLWDOHVGHSURYLQFLDVHQORVWpUPLQRVPXQLFLSDOHV\Q~FOHRVXUEDQRV
TXHHO*RELHUQRGHWHUPLQH
F(QHVWDEOHFLPLHQWRVSHQLWHQFLDULRVRUGLQDULRVSHURVHSDUDGRVGHORVGHPiV
SUHVRV
D$WUDYpVGHODVIXHU]DV\&XHUSRVGH6HJXULGDG
F'HO*RELHUQR
E&LQFR
F$WRGDVODV)XHU]DV\&XHUSRVGH6HJXULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F/D$VDPEOHD3DUODPHQWDULDGHO&RQVHMRGH(XURSD\OD$VDPEOHD*HQHUDOGH
ODV1DFLRQHV8QLGDV
D(OFDUiFWHUFLYLOTXHVHGLRDOFLWDGR&XHUSR
E&LQFXHQWD\FXDWURDUWtFXORV
D/RV3ULQFLSLRV%iVLFRVGH$FWXDFLyQGHOD/H\VRQGHDSOLFDFLyQVyOR
DODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR
F(QODV&RPXQLGDGHV$XWyQRPDVFX\RV(VWDWXWRVGLVSRQJDQRSUHYHDQODFUHD
FLyQGH&XHUSRVGH3ROLFtDSURSLRV
E1RHVRUJiQLFDHQVXWRWDOLGDG
E&LQFR
E$FWXDUHQHOFXPSOLPLHQWRGHVXVIXQFLRQHVFRQDEVROXWDQHXWUDOLGDGSROtWLFD
HLPSDUFLDOLGDG\HQFRQVHFXHQFLDVLQGLVFULPLQDFLyQDOJXQDSRUUD]yQGHUD]DUHOLJLyQX
RSLQLyQ
E'HDFXHUGRFRQORVSULQFLSLRVGHFRQJUXHQFLDRSRUWXQLGDG\SURSRUFLRQDOLGDG
D(ORUGHQDPLHQWRMXUtGLFR
F/DVGRVUHVSXHVWDVDQWHULRUHVFRQFRUUHFWDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'(5(&+23(1$/&21&(37235,1&,3,26,1)250$'25(6'(/'(5(&+2
3(1$//$,1)5$&&,13(1$/(/'(/,72</$)$/7$&21&(372
0$7(5,$/'('(/,72*5$'26'((-(&8&,1'(/'(/,723(5621$6
&5,0,1$/0(17(5(63216$%/(6'(/26'(/,726<)$/7$6
/$6&216(&8(1&,$6-85',&$6'(/$,1)5$&&,13(1$/9,*(1&,$
7(0325$/<(63$&,$/'(/$/(<3(1$//$('$'3(1$/<686()(&726
/DSHUVRQDFRQQDFLRQDOLGDGHVSDxRODRH[WUDQMHUDDGTXLULGDFRQSRVWHULR
ULGDGDODFRPLVLyQGHXQKHFKRGHOLFWLYRSRGUiVHUMX]JDGDHQ(VSDxDVLHPSUH\
FXDQGRVHGHQFLHUWRVUHTXLVLWRVVHxDOHHQWUHODVVLJXLHQWHVODUHVSXHVWDFRUUHFWD
D4XHHODJUDYLDGRRHO0LQLVWHULR)LVFDOGHQXQFLHQRLQWHUSRQJDQTXHUHOODDQWH7ULEX
QDOHVHVSDxROHV
E4XHHOGHOLQFXHQWHQRKD\DVLGRDEVXHOWRLQGXOWDGRRSHQDGRHQHOH[WUDQMHURRHQ
HVWH~OWLPRFDVRQRKD\DFXPSOLGRVXFRQGHQD
&XDQGRHOTXHKD\DUHVXHOWRFRPHWHUXQGHOLWRLQYLWDDRWUDXRWUDVSHUVRQDV
DHMHFXWDUORVHGLFHTXHH[LVWH
D&RQVSLUDFLyQ
E3URSRVLFLyQ
F3URYRFDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVUHTXLVLWRVSDUDODVDQFLyQGHODVDFFLRQHVXRPLVLRQHVLPSUXGHQWHVHV
WiQ FRQWHQLGRV HQ HO DUWtFXOR GHO &yGLJR SHQDO YLJHQWH VHxDOH GH HQWUH ODV
VLJXLHQWHVODUHVSXHVWDFRUUHFWD
D6yORVHFDVWLJDUiQFXDQGRH[SUHVDPHQWHORGLVSRQJDODOH\
E6LHPSUHVHUiQFDVWLJDGDVHQODVSHUVRQDVGHODXWRU\GHOFyPSOLFH
F/DOH\GLVSRQHH[SUHVDPHQWHTXHVyORVHFDVWLJDUiDODXWRUSHURQRDOFyPSOLFH
(O&yGLJRSHQDOQRFRQVLGHUDSHQDV
D/DPXOWDGHGLH]GtDVDGRVPHVHV
E /D GHWHQFLyQ \ SULVLyQ SUHYHQWLYD \ ODV GHPiV PHGLGDV FDXWHODUHV GH QDWXUDOH]D
SHQDO
F0XOWDSRUFXRWDVRSURSRUFLRQDO
6HJ~QHO&yGLJRSHQDOHQXQKHFKRGHOLFWLYRVHUiQFRQVLGHUDGRVDXWRUHV
D/RVTXHLQGXFHQGLUHFWDPHQWHDRWURXRWURVDHMHFXWDUOR
E/RVTXHFRRSHUDQDVXHMHFXFLyQFRQXQDFWRVLQHOFXDOQRVHKDEUtDHIHFWXDGR
6HJ~Q HO &yGLJR SHQDO GH HQWUH ODV VLJXLHQWHV SHQDV VHxDOH OD TXH OOHYD
FRQVLJRODSpUGLGDGHKRQRUHVHPSOHRV\FDUJRVS~EOLFRV
D/DGHLQKDELOLWDFLyQDEVROXWD
E/DGHLQKDELOLWDFLyQHVSHFLDO
F7RGDVODVGHSULVLyQ
8QDGHODVIXQFLRQHVGHODOH\SHQDOHV
D3UHYHQWLYD
E5HSUHVLYD
3DUDMX]JDUHOGHOLWRGHFRKHFKRVHSRGUiFRQVWLWXLUOD,QVWLWXFLyQGHO-X
UDGR"
D6t
E1R
F'HSHQGHUiGHVXFXDQWtDHFRQyPLFD
(OGHUHFKRDFDVWLJDUDORVLQIUDFWRUHVGHO&yGLJRSHQDOHV
D(O*RELHUQR
E([FOXVLYDPHQWHHO(VWDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HJ~QHO&yGLJRSHQDOVHxDOHHQWUHODVVLJXLHQWHVODSHQDTXHVHOHSXHGH
DSOLFDUDODVSHUVRQDVMXUtGLFDV
D0XOWDVSRUFXRWDVRSURSRUFLRQDO
E6XVSHQVLyQGHVXVDFWLYLGDGHVSRUXQSOD]RTXHQRSRGUiH[FHGHUGHFLQFRDxRV
F$PEDVUHVSXHVWDVDQWHULRUHVVHSXHGHQDSOLFDU
(QTXp/LEURGHO&yGLJRSHQDOVHUHJXODQORVGHOLWRV"
D(QHO3ULPHUR
E(QHO6HJXQGR
F(QHO7HUFHUR
6HJ~QOD/H\2UJiQLFDGHO3RGHU-XGLFLDOGHORVGHOLWRVTXHVHFRPHWDQHQ
XQEXTXHPHUFDQWHHVSDxROHQWHQGHUi
D/D-XULVGLFFLyQSHQDOHVSDxROD
E/D-XULVGLFFLyQLQWHUQDFLRQDOVLHOEDUFRVHHQFXHQWUDHQDJXDVLQWHUQDFLRQDOHV
F/D-XULVGLFFLyQSHQDOHVSDxRODVLHOEXTXHVHHQFXHQWUDHQDOWDPDU
/RVFRRSHUDGRUHVQHFHVDULRVHQODFRPLVLyQGHXQGHOLWRVHFRQVLGHUDQ
D$XWRUHV
E&yPSOLFHV
F(QFXEULGRUHV
/RVFRRSHUDGRUHVQRQHFHVDULRVHQODFRPLVLyQGHXQKHFKRGHOLFWLYRVH
GHQRPLQDQ
D$XWRUHV
E&yPSOLFHV
F(QFXEULGRUHV
(QYLUWXGGHTXpSULQFLSLRQRVHSXHGHFDVWLJDUDXQDSHUVRQDGRVYHFHV
SRUHOPLVPRKHFKRGHOLFWLYR"
D3RUHOGHQRQELVLQLGHP
E3RUHOGHLQGXELRSURUHR
F3RUHOGHLQWHUYHQFLyQPtQLPD
'HHQWUHORVVLJXLHQWHVTXLpQHVHODXWRUPHGLDWRGHXQKHFKRGHOLFWLYR"
D(OTXHUHDOL]DHOKHFKRLQPHGLDWDPHQWH
E(OTXHUHDOL]DHOKHFKRSRUPHGLRGHRWURGHOTXHVHVLUYHFRPRLQVWUXPHQWR
F(OTXHUHDOL]DHOKHFKRSRUPHGLRGHFXDOTXLHUREMHWR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRGRVRPiVSHUVRQDVVHFRQFLHUWDQSDUDODHMHFXFLyQGHXQGHOLWR\
UHVXHOYHQHMHFXWDUORHVWDPRVKDEODQGRGH
D3URSRVLFLyQ
E&RQVSLUDFLyQ
F3URYRFDFLyQ
&XDQGRGHFLPRV1RKD\SHQDVLQMXLFLROHJDODTXpWLSRGHJDUDQWtDQRV
UHIHULPRV"
D3HQDO
E3URFHVDO
F'HHMHFXFLyQ
/DV OH\HV HVSHFLDOHV TXH VH HMHFXWDQ HQ VLWXDFLRQHV GH HPHUJHQFLD VH
ULJHQSRUHOFULWHULRGH
D/DWHUULWRULDOLGDG
E/DLUUHWURDFWLYLGDG
F/DWHPSRUDOLGDG
/D GLUHFFLyQ GH OD LQYHVWLJDFLyQ GH ORV KHFKRV DVt FRPR OD SDUWLFLSDFLyQ
GHOLPSXWDGR\HOLPSXOVRDOSURFHGLPLHQWRUHVSHFWRGHORVKHFKRVFRPHWLGRVSRU
PHQRUHVFRUUHVSRQGH
D$O0LQLVWHULR)LVFDO
E$ORV-XHFHVGH,QVWUXFFLyQ
F$ORV-XHFHVGH0HQRUHV
6LXQDSHUVRQDTXLHUHFRPHWHUXQGHOLWR\KDFHWRGRORTXHSXHGHSDUD
OOHYDUORDFDERVLQFRQVHJXLUORKDEUi
D7HQWDWLYD
E&RQVXPDFLyQ
F9ROXQWDULHGDG
/D&RQVWLWXFLyQJDUDQWL]DHOSULQFLSLRGHLUUHWURDFWLYLGDGGHODVGLVSRVLFLR
QHVVDQFLRQDGRUDVQRIDYRUDEOHVRUHVWULFWLYDVGHGHUHFKRVLQGLYLGXDOHVFRQFUHWD
PHQWHHQHODUWtFXOR
D
E
F
/D&RQVWLWXFLyQFRQWHPSODODSUHVXQFLyQGHLQRFHQFLDHQHODUWtFXOR
D
E
F

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XDQGRXQDFRQGXFWDGHOLFWLYDVHUHDOL]DLQWHQFLRQDGDPHQWHGLFHHO&yGLJR
SHQDOTXHH[LVWH
D&XOSDELOLGDG
E,PSUXGHQFLD
F'ROR
(OSULQFLSLRGHOHJDOLGDGKDFHUHIHUHQFLDH[SUHVDDTXH
D/DLJQRUDQFLDGHODOH\QRH[LPHGHVXFXPSOLPLHQWR
E1RVHSXHGHQLPSRQHUSHQDVFRQFDUiFWHUUHWURDFWLYR
F1RKD\GHOLWRQLSHQDVLQOH\DQWHULRUDVXSHUSHWUDFLyQ
6HJ~Q HO SULQFLSLR GH WHUULWRULDOLGDG ORV GHOLWRV FRPHWLGRV HQ (VSDxD SRU
H[WUDQMHURVSXHGHQVHUFDVWLJDGRV
D6yORVLORVDXWRUHVVRQUHVLGHQWHVHQ(VSDxD
E6yORVLKD\WUDWDGRGHGREOHQDFLRQDOLGDGFRQVXSDtVGHRULJHQ
F7RGRVFRQLQGHSHQGHQFLDGHODQDFLRQDOLGDGGHVXDXWRU
/DVDFFLRQHVXRPLVLRQHVLPSUXGHQWHVVyORVHFDVWLJDUiQ
D6LSRQHQHQSHOLJURODYLGDRLQWHJULGDGGHODVSHUVRQDV
E&XDQGRH[SUHVDPHQWHORGLVSRQJDODOH\
F&XDQGRSRUVXLPSRUWDQFLDWHQJDQODFRQVLGHUDFLyQGHJUDYHV
4XpFRQVWLWX\HHOWHUULWRULRGHXQ(VWDGR"
D/DSDUWHItVLFDDJXDVVXEWHUUiQHDV\VXEVXHOR
E3DUWHItVLFDHVSDFLRDpUHR\DJXDVLQWHULRUHV
F1LQJXQDUHVSXHVWDDQWHULRUHVWiFRPSOHWD
/D QHFHVLGDG GH SUHGHWHUPLQDFLyQ QRUPDWLYD GH ODV FRQGXFWDV LOtFLWDV HV
XQDFRQVHFXHQFLDGHO
D3ULQFLSLRGHOHJDOLGDGHQPDWHULDVDQFLRQDGRUD
E'HUHFKRDODWXWHODMXGLFLDO
F'HUHFKRDO-XH]SUHGHWHUPLQDGRSRUODOH\
/DVIDOWDVSHQDOHVVHFDVWLJDUiQVLHPSUHFRQSHQDV
D/HYHV
E*UDYHVVLKD\LPSUXGHQFLD
F0HQRVJUDYHVVLKD\GROR
&XDQGRHQ'HUHFKRVHGLFHTXHXQDDFFLyQHVWtSLFDTXLHUHVLJQLILFDUTXH
D/OHYDFRQVLJRFLHUWDSHQDOLGDG
E(VFRQWUDULDDODOH\
F(VWiGHVFULWDHQODOH\
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$QWHODGXGDVREUHODFXOSDELOLGDGGHOVXSXHVWRDXWRUGHXQGHOLWR
D6HOHUHEDMDUiODSHQDHQXQJUDGR
E'HEHVHUDEVXHOWR
F6HVXVSHQGHHOMXLFLR\VHLQLFLDQQXHYDVGLOLJHQFLDVKDVWDTXHVHGHPXHVWUHRQR
VXFXOSDELOLGDG
8QGHOLWRVHGLFHFRPHWLGRSRULPSUXGHQFLDFXDQGRVHOOHYDDFDER
D&RQDOHYRVtD
E&RQLQWHQFLRQDOLGDG
F6LQLQWHQFLRQDOLGDG
/DVIDOWDVHQJUDGRGHWHQWDWLYDVHFDVWLJDUiQ
D6LVRQFRQWUDODVSHUVRQDVRHOSDWULPRQLR
E6LVRQFRQWUDHOSDWULPRQLR\HORUGHQS~EOLFR
F6LVRQFRQWUDHOSDWULPRQLRRFRQWUDODSURSLHGDG
6LXQDSHUVRQDKDUHVXHOWRFRPHWHUXQGHOLWRHLQYLWDDRWURXRWURVDHMHFX
WDUORVHSURGXFHORTXHOODPDPRV
D3URYRFDFLyQ
E&RQVSLUDFLyQ
F3URSRVLFLyQ
'HVGHTXHHODXWRUGHXQKHFKRGHOLFWLYRFRQFLEHHQVXPHQWHODLGHDGH
FRPHWHUORKDVWDTXHGDFRPLHQ]RDVXHMHFXFLyQVHVXFHGHQXQDVHULHGHHWDSDV
TXHVHFRQRFHQFRQHOQRPEUHGH
D$FWRVSUHSDUDWRULRV
E3URFHVRGHUHVROXFLyQ
F$FWRVGHGHFLVLyQ
8QDQRUPDTXHLPSRQJDXQDSHQDSULYDWLYDGHOLEHUWDGGHGXUDFLyQLQGHWHU
PLQDGDLUiHQFRQWUDGHOSULQFLSLRGH
D/HJDOLGDG
E,UUHWURDFWLYLGDG
F3URSRUFLRQDOLGDG
6LGRVRPiVSHUVRQDVVHSRQHQGHDFXHUGRSDUDFRPHWHUXQGHOLWR\UHVXHO
YHQHMHFXWDUORHVWDUHPRVDQWHODILJXUDGHOD
D7HQWDWLYD
E&RQVSLUDFLyQ
F3URYRFDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHO&yGLJRSHQDOVHHQWLHQGHSRUFXOSDELOLGDG
D'ROR\FXOSD
E'RORHLPSUXGHQFLD
F&XOSDHLPSUXGHQFLD
(OGHOLWRHQHOFXDOODDFFLyQFULPLQDOVHDJRWDHVGHFLUFXDQGRHOUHVXOWDGR
FRQVHJXLGRFRLQFLGHFRQODLQWHQFLyQGHVXDXWRUHVHOGHOLWR
D(MHFXWDGR
E&RQVXPDGR
F,QWHQFLRQDGR
(QWUHORVVLJXLHQWHVGHTXpIRUPDVHSXHGHVHUVXMHWRGHXQGHOLWR"
D(QFDOLGDGGHVXMHWRDFWLYRRSDVLYR
E&RPRSHUMXGLFDGR
F'HFXDOTXLHUDGHODVIRUPDVDQWHULRUHV
(Q'HUHFKRSHQDOODFLUFXQVWDQFLDTXHSXHGHDJUDYDURDWHQXDUODUHVSRQ
VDELOLGDGSHQDOVHGHQRPLQD
D0L[WDGHSDUHQWHVFR
E'HFRQVDQJXLQLGDGRDILQLGDG
F'HDILQLGDG
8QDFRQGXFWDKXPDQDVHGLFHTXHHVWtSLFDFXDQGR
D(VFRPHWLGDSRUXQLPSXWDEOH
E(VWiSUHYLVWDHQODVOH\HVSHQDOHV
F(VWiVDQFLRQDGDFRQXQDSHQD
(OSULQFLSLRGHQRPLQDGRLQGXELRSURUHRHVWiUHFRJLGR
D(QHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxROD
E(QHO&yGLJRSHQDO
F(QHODUWtFXORGHOD&RQVWLWXFLyQ(VSDxROD
(OQ~PHURGHFLUFXQVWDQFLDVDJUDYDQWHVTXHVHxDODHO&yGLJRSHQDOHVGH
D6LHWH
E2FKR
F1XHYH
(QHO&yGLJRSHQDOH[LVWHQXQWRWDOGHDWHQXDQWHVGH
D6HLV
E6LHWH
F2FKR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
1RKD\SHQD
D&RQGRORRFXOSD
E6LQGRORRLPSUXGHQFLD
F&RQFXOSDRLPSUXGHQFLD
6LDOLUDFRPHWHUXQKHFKRGHOLFWLYRKD\IDOWDGHLGRQHLGDGHQHOPHGLRHOH
JLGRRIDOWDHOREMHWRRODPDWHULDGHOPLVPRHVWDPRVDQWHXQGHOLWR
D&RQVXPDGR
E(QWHQWDWLYD
F,PSRVLEOH
$O TXH FRPHWD XQ GHOLWR VXIULHQGR DOWHUDFLyQ HQ OD SHUFHSFLyQ GHVGH HO
QDFLPLHQWRRGHVGHODLQIDQFLDWHQLHQGRDOWHUDGDJUDYHPHQWHODFRQFLHQFLDGHOD
UHDOLGDGVHOHDSOLFDUiXQD
D$WHQXDQWH
E([LPHQWH
F$JUDYDQWH
/DOHJtWLPDGHIHQVDHVXQDFDXVDGH
D,QLPSXWDELOLGDG
E-XVWLILFDFLyQ
F,QFXOSDELOLGDG
(O&yGLJRSHQDOFDWDORJDHOKDEHUSURFHGLGRHOFXOSDEOHDQWHVGHFRQRFHU
TXHHOSURFHGLPLHQWRMXGLFLDOVHGLULJHFRQWUDpODFRQIHVDUODLQIUDFFLyQDODVDX
WRULGDGHVFRPRXQD
D([LPHQWH
E$JUDYDQWH
F$WHQXDQWH
5HVSHFWRDODUHVSRQVDELOLGDGFULPLQDOODSHUVRQDTXHDOWLHPSRGHFRPH
WHUXQDLQIUDFFLyQSHQDODFDXVDGHFXDOTXLHUDQRPDOtDRDOWHUDFLyQSVtTXLFDQR
SXHGDFRPSUHQGHUODLOLFLWXGGHOKHFKRRDFWXDUFRQIRUPHDHVDFRPSUHQVLyQVHOH
DSUHFLDUiXQDFLUFXQVWDQFLD
D([LPHQWH
E$WHQXDQWH
F$JUDYDQWH
3DUDSRGHUDSUHFLDUVHODH[LPHQWHGHOHJtWLPDGHIHQVDHVQHFHVDULRTXH
D +D\D XQD DJUHVLyQ LOHJtWLPD \ TXH QR H[LVWD SURYRFDFLyQ VXILFLHQWH SRU SDUWH GHO
GHIHQVRU
E([LVWDXQDSURSRUFLRQDOLGDGHQWUHHOPHGLRGHDWDTXH\HOGHGHIHQVD
F4XHVHGHQWRGDVODVFLUFXQVWDQFLDVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiQGRVHFDVWLJDUiODSURSRVLFLyQSDUDGHOLQTXLU"
D(QORVGHOLWRVFRQWUDHOKRQRU
E(QORVGHOLWRVFRQWUDHOSDWULPRQLR\FRQWUDODVSHUVRQDV
F(QORVFDVRVHVSHFLDOPHQWHSUHYLVWRVSRUODOH\
(O3ULQFLSLRGH/HJDOLGDGFRPSUHQGHODVJDUDQWtDV
D&ULPLQDOSHQDOSURFHVDO\GHHMHFXFLyQ
E3HQDOFULPLQDO\SURFHVDO
F3HQDOSURFHVDO\GHHMHFXFLyQ
(MHFXWDUXQKHFKRGHOLFWLYRFRQDOHYRVtDHVXQDFLUFXQVWDQFLD
D$WHQXDQWH
E$JUDYDQWH
F([LPHQWH
6LXQLQGLYLGXRSURSRQHDRWURVOOHYDUDFDERODFRPLVLyQGHXQGHOLWR\pVWRV
DFHSWDQSHURQROOHJDQDHIHFWXDUHOGHOLWRHVWDPRVDQWHXQFDVRGH
D3URSRVLFLyQ
E&RQVSLUDFLyQ
F3URYRFDFLyQ
&RPHWHUXQGHOLWRSRUPRWLYRVUDFLVWDVHVXQDFLUFXQVWDQFLD
D([LPHQWH
E$WHQXDQWH
F$JUDYDQWH
(OFRQMXQWRGHQRUPDVMXUtGLFDVHVWDEOHFLGDVSRUHO(VWDGRFRQUDQJRGHOH\
TXHWLSLILFDQORVGHOLWRVODVIDOWDV\VXVSHQDVRPHGLGDVGHVHJXULGDGHVORTXH
VHFRQRFHFRQHOQRPEUHGH
D'HUHFKRSURFHVDOSHQDO
E'HUHFKRSHQDOVXEMHWLYR
F'HUHFKRSHQDOREMHWLYR
/DVOH\HVWLHQHQFDUiFWHUUHWURDFWLYR
D6LIDYRUHFHQDOUHR
E6LQRIDYRUHFHQDOUHR
F1XQFD
6LXQDOH\QRGLFHQDGDVREUHVXHQWUDGDHQYLJRUVHHQWLHQGHTXHVHSUR
GXFH
D$OSXEOLFDUVHHQHO%ROHWtQ2ILFLDOGHO(VWDGR
E&XDQGRHVVDQFLRQDGDSRUHO5H\
F$ORVYHLQWHGtDVGHVXSXEOLFDFLyQHQHO%ROHWtQ2ILFLDOGHO(VWDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DUHJODJHQHUDOHQODDSOLFDFLyQGHODOH\SHQDOHQHOHVSDFLRHVHOSULQFLSLRGH
D,UUHWURDFWLYLGDG
E7HUULWRULDOLGDG
F(MHFXWLYLGDG
/RVGHOLWRVGHUHEHOLyQ\VHGLFLyQDVtFRPRORVUHODWLYRVDOFRQWUROGHFDP
ELRVVHLQFOX\HQGHQWURGHOSULQFLSLR
D3HUVRQDO
E'H-XVWLFLD
F'H3URWHFFLyQ
6HSRGUiMX]JDUHQ(VSDxDXQGHOLWRFRPHWLGRHQHOH[WUDQMHURFXDQGRSHUMX
GLTXHGLUHFWDPHQWHDORVLQWHUHVHVGHO(VWDGRHVSDxROHQEDVHDOSULQFLSLROODPDGR
D5HDO
E8QLYHUVDO
F3HUVRQDO
6HFRQVLGHUDGHOLWRWRGDDFFLyQWtSLFDDQWLMXUtGLFDFXOSDEOH\
D3HQDO
E'RORVD
F3XQLEOH
+DOODUVHEDMRODLQIOXHQFLDGHXQVtQGURPHGHDEVWLQHQFLDDFDXVDGHVX
GHSHQGHQFLDDGHWHUPLQDGDVVXVWDQFLDVTXHOHLPSLGDFRPSUHQGHUODLOLFLWXGGHO
KHFKRRDFWXDUFRQIRUPHDHVDFRPSUHQVLyQHVXQDFLUFXQVWDQFLD
D([LPHQWH
E$WHQXDQWH
F$JUDYDQWH
1R VHUi FDVWLJDGD QLQJXQD DFFLyQ X RPLVLyQ TXH QR HVWp SUHYLVWD FRPR
GHOLWRRIDOWDSRUOH\DQWHULRUDVXSHUSHWUDFLyQFRUUHVSRQGHDODJDUDQWtD
D&ULPLQDO
E3URFHVDO
F'HHMHFXFLyQ
(O&yGLJRSHQDOFRQVLGHUDSXQLEOHVODVVLJXLHQWHVIRUPDVGHUHVROXFLyQPD
QLILHVWD
D&RQVSLUDFLyQ
E5HVROXFLyQ
F,QYLWDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVJUDGRVGHHMHFXFLyQGHOGHOLWRVRQ
D3URYRFDFLyQWHQWDWLYD\FRQVXPDFLyQ
E3URSRVLFLyQ\UHVROXFLyQ
F7HQWDWLYD\FRQVXPDFLyQ
(O&yGLJR3HQDOFDWDORJDHOKDEHUSURFHGLGRHOFXOSDEOHDQWHVGHFRQRFHU
TXHHOSURFHGLPLHQWRMXGLFLDOVHGLULJHFRQWUDpODFRQIHVDUODLQIUDFFLyQDODVDX
WRULGDGHVFRPRXQD
D$JUDYDQWH
E([LPHQWH
F$WHQXDQWH
/RVTXHLQGXFHQGLUHFWDPHQWHDRWURXRWURVDHMHFXWDUXQGHOLWRVRQFRQ
VLGHUDGRVSHQDOPHQWH
D$XWRUHV
E&yPSOLFHV
F&RODERUDGRUHV
6HUHOFXOSDEOHGHXQGHOLWRPD\RUGHGLHFLRFKRDxRVSHURPHQRUGHYHLQ
WLXQRHVXQDFLUFXQVWDQFLD
D$WHQXDQWH
E([LPHQWH
F,UUHOHYDQWH
&XDQGRODDFFLyQFRPHWLGDSRUVXDXWRUVHHQFXHQWUDVDQFLRQDGDHQODOH\
FRQXQDSHQDVXDFFLyQVHUi
D3XQLEOH
E$QWLMXUtGLFD
F&XOSDEOH
(OHVWDGRGHQHFHVLGDGHVXQD
D([LPHQWH
E$WHQXDQWH
F$JUDYDQWH
/DPLQRUtDGHHGDGSHQDOH[FOX\HOD
D$FFLyQ
E$QWLMXULGLFLGDG
F,PSXWDELOLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HQWUR GHO 3ULQFLSLR GH /HJDOLGDG VH HQFXHQWUDQ ODV JDUDQWtDV &ULPLQDO
3HQDO3URFHVDO\
D'HHMHFXFLyQ
E'HDPSDUR
F'HGHIHQVD
$GHPiVGHHVWDUSUHYLVWRHQOD&RQVWLWXFLyQGHTXp3ULQFLSLRGHO'HUHFKR
SHQDOVHGHGXFHTXHHVWiH[FOXLGDODSHQDGHPXHUWHHQODOHJLVODFLyQHVSDxROD"
D-XGLFLDOLGDG
E,QWHUYHQFLyQPtQLPD
F5HVRFLDOL]DFLyQ
&XDQGR HO VXMHWR GD SULQFLSLR D OD HMHFXFLyQ GHO GHOLWR GLUHFWDPHQWH SRU
KHFKRVH[WHULRUHVSUDFWLFDQGRWRGRVORVDFWRVTXHREMHWLYDPHQWHGHEHUtDQSUR
GXFLUHOUHVXOWDGR\VLQHPEDUJRHVWHQRVHSURGXFHSRUFDXVDVLQGHSHQGLHQWHVD
ODYROXQWDGGHODXWRUHVWDUHPRVDQWHXQD
D(MHFXFLyQ
E7HQWDWLYD
F&RQVXPDFLyQ
8QD SHUVRQD HVWi FRQGHQDGD D WUHV DxRV GH SULYDFLyQ GH OLEHUWDG SRU XQ
GHOLWR3RVWHULRUPHQWHDODFRQGHQDVHUHIRUPDHO&yGLJRSHQDO\HVHPLVPRGHOLWR
VHFDVWLJDFRQRFKRDxRVGHSULYDFLyQGHOLEHUWDGDXPHQWDUtDHQWRQFHVHOWLHPSR
GHODFRQGHQDDHVDSHUVRQD"
D'HSHQGHUiGHFRPSRUWDPLHQWRREVHUYDGRHQODFiUFHO
E1R
F'HSHQGHGHOWLHPSRTXHOHIDOWHSDUDFXPSOLUORVWUHVDxRVGHFRQGHQD
&XDQGR HO VXMHWR GD SULQFLSLR D OD HMHFXFLyQ GHO GHOLWR GLUHFWDPHQWH SRU
KHFKRV H[WHULRUHV SUDFWLFDQGR SDUWH GH ORV DFWRV TXH REMHWLYDPHQWH GHEHUtDQ
SURGXFLUHOUHVXOWDGR\VLQHPEDUJRHVWHQRVHSURGXFHSRUFDXVDVLQGHSHQGLHQWHV
DODYROXQWDGGHODXWRUHVWDUHPRVDQWHXQD
D(MHFXFLyQ
E7HQWDWLYD
F&RQVXPDFLyQ
6LXQDYLyQPLOLWDUHVSDxROVREUHYXHOD)UDQFLDHQHVHPRPHQWRVHFRQVL
GHUDGLFKRDYLyQWHUULWRULRHVSDxRO"
D6t
E6LHOGHVWLQRHVRWURSDtVGLIHUHQWHVt
F6yORVLORDXWRUL]DQODVDXWRULGDGHVIUDQFHVDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O'HUHFKRSHQDOHVXQGHUHFKR
D'HWRGDVODV$XWRULGDGHVFRQSRGHU
E([FOXVLYRGHO(VWDGR
F'HODV$XWRULGDGHVFRQUHVSDOGRGHPRFUiWLFR
(O'HUHFKRSHQDOHV
D3~EOLFR
E3ULYDGR
F$GPLQLVWUDWLYR
4XpQRWDGLVWLQJXHHOSURFHVRSHQDOGHOSURFHVRFLYLO"
D/DFXDQWtDGHOREMHWRHQOLWLJLR
E/DSULPDFtDGHOLQWHUpVS~EOLFRHQXQRVREUHHOLQWHUpVSULYDGRHQHORWUR
F/DFXDQWtDGHODVPXOWDVDSOLFDEOHV
6LXQH[WUDQMHURFRPHWHXQGHOLWRHQ(VSDxD
D1RVHOHSXHGHMX]JDUSRUTXHODOH\HVSDxRODQRHVODVX\D
E6HOHHQYtDDVXSDtVSDUDTXHDOOtORMX]JXHQ
F6HOHSXHGHDSOLFDUODOH\HVSDxROD
'HVGHHOSXQWRGHYLVWDSHQDOHOREUDUSRUFDXVDVRHVWtPXORVWDQSRGH
URVRV TXH KD\DQ SURGXFLGR HQ OD SHUVRQD DUUHEDWR X REFHFDFLyQ X RWUR HVWDGR
SDVLRQDOGHHQWLGDGVHPHMDQWHHVXQDFLUFXQVWDQFLD
D$WHQXDQWH
E$JUDYDQWH
F([LPHQWH
6HJ~QHO&yGLJRSHQDOSRUXQGHOLWRHVSRVLEOHGHFODUDUDXQDSHUVRQD
D,UUHVSRQVDEOHFULPLQDOPHQWHSHURUHVSRQVDEOHFLYLOPHQWHGHOPLVPR
E5HVSRQVDEOHFULPLQDOPHQWHSHURQRUHVSRQVDEOHFLYLOPHQWHGHGLFKRGHOLWR
F(QYtDSHQDOHVWDUHVSRQVDELOLGDGHVSHQDOUHPLWLHQGRDODYtDFLYLOODUHVSRQVDELOLGDG
FLYLO
/DGLIHUHQFLDHQWUHGHOLWR\IDOWDYLHQHGHWHUPLQDGDSRU
D/DJUDYHGDGGHOKHFKRFRPHWLGR
E/DFDQWLGDGUREDGD
F/DUHLWHUDFLyQGHORVKHFKRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D FRPSHWHQFLD GH OD MXULVGLFFLyQ HVSDxROD SDUD MX]JDU GHOLWRV GH IDOVLIL
FDFLyQGHPRQHGDH[WUDQMHUDFRPHWLGRVIXHUDGHOWHUULWRULRQDFLRQDOVHEDVDHQ
D(OSULQFLSLRUHDO
E(OSULQFLSLRXQLYHUVDO
F(OSULQFLSLRGHUHFLSURFLGDG
3DUDTXHDXQFLXGDGDQRVHOHSXHGDLPSRQHUXQDSHQDSULYDWLYDGHOLEHUWDG
GHEHUi
D'HFLGLUORHO*RELHUQR
E(VWDUHVWDEOHFLGDHQXQDOH\\DSOLFDUODFXDOTXLHU$XWRULGDG
F(VWDUHVWDEOHFLGDSUHYLDPHQWHHQXQDOH\\DSOLFDUODXQ-XH]R7ULEXQDOGH-XVWLFLD
6RQDFWRVSUHSDUDWRULRV
D&RQVSLUDFLyQ\SURYRFDFLyQ
E3URYRFDFLyQ\WHQWDWLYD
6RQVXMHWRVSDVLYRVGHLQIUDFFLyQSHQDO
D9tFWLPDRSHUMXGLFDGR
E(QFXEULGRU
F$XWRU\FyPSOLFH
3DUDTXHH[LVWDGHOLWRXQDGHODVFDUDFWHUtVWLFDVH[LJLGDVHVTXHODDFFLyQ
VHD
D-XUtGLFD
E$QWLMXUtGLFD
F$SHODEOH
$ WUDYpV GHO WLHPSR TXp SULQFLSLR JDUDQWL]D OD SUHODFLyQ GH XQD QRUPD
MXUtGLFD"
D(OGHOHJDOLGDG
E(OGHWHUULWRULDOLGDG
F(OGHLUUHWURDFWLYLGDG
/RVTXHUHDOL]DQHOKHFKRGHOLFWLYRSRUVtVRORVFRQMXQWDPHQWHRSRUPHGLR
GHRWURGHOTXHVHVLUYHQFRPRLQVWUXPHQWRHO&yGLJRSHQDOORVFRQFHSW~DFRPR
D$XWRUHV
E&yPSOLFHV
F&RODERUDGRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVFLUFXQVWDQFLDVPRGLILFDWLYDVGHODUHVSRQVDELOLGDGFULPLQDOSXHGHQVHU
D([LPHQWHV\DJUDYDQWHV
E$WHQXDQWHV
F/DVWUHVFLWDGDVVRQFLHUWDV
&RQDUUHJORDOD/H\5HJXODGRUDGHOD5HVSRQVDELOLGDG3HQDOGHORV0HQR
UHV\SRUORTXHVHUHILHUHDODSUHVFULSFLyQODUHIHULGDQRUPDGLFHTXHORVKHFKRV
FRPHWLGRVSRUORVPHQRUHVSUHVFULEHQ
D$ORVFLQFRDxRVFXDQGRVHWUDWHGHXQGHOLWRJUDYHVDQFLRQDGRHQHO&yGLJRSHQDO
FRQSHQDVXSHULRUDGLH]DxRV
E$ORVWUHVDxRVFXDQGRVHWUDWHGHFXDOTXLHURWURGHOLWRJUDYH\DODxRFXDQGRVHWUDWH
GHXQGHOLWRPHQRVJUDYH
7LHQHHOPHQRUGHDxRVORVPLVPRVGHUHFKRVDHIHFWRVSHQDOHVTXH
HOPD\RUGHHGDG"
D6t
E6tH[FHSWRDODDVLVWHQFLDOHWUDGD
F'HSHQGHGHOGHOLWRFRPHWLGR
7LHQHODFRQVLGHUDFLyQGHH[LPHQWHHQQXHVWUR'HUHFKRSHQDO
D(OHVWDGRGHQHFHVLGDG
E/DHPEULDJXH]QRKDELWXDO
F(ODUUHSHQWLPLHQWRHVSRQWiQHR
6HJ~QHO&yGLJRSHQDOVRQGHOLWRV\IDOWDV
D/DVDFFLRQHV\RPLVLRQHVGRORVDVRLPSUXGHQWHVSHQDGDVSRUODOH\
E/DVRPLVLRQHVPX\JUDYHVHLPSUXGHQWHVSHQDGDVSRUODOH\
F/DVDFFLRQHV\RPLVLRQHVGRORVDVSHQDGDVSRUODOH\
6HJ~Q HO &yGLJR FLYLO ODV OH\HV SHQDOHV HVSDxRODV REOLJDQ D WRGDV ODV
SHUVRQDV
D'HQDFLRQDOLGDGHVSDxROD
E'HQDFLRQDOLGDGH[WUDQMHUD
F4XHVHKDOOHQHQWHUULWRULRHVSDxROFXDOTXLHUDTXHVHDVXQDFLRQDOLGDG
/DIXQFLyQGHO&yGLJRSHQDOHV
D'HILQLUORVGHOLWRV\ODVIDOWDV\GHWHUPLQDUODVSHQDV\PHGLGDVGHVHJXULGDG
E(VODOH\SHQDOFRP~Q\SULQFLSDOHQHOiPELWRSHQDOHVSDxRO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpH[FHSFLyQWLHQHHO3ULQFLSLRGH,UUHWURDFWLYLGDG"
D4XHIDYRUH]FDDOUHR
E1RKD\H[FHSFLyQDOJXQD
F/DUHWURDFWLYLGDGTXHQRIDYRUH]FDDOUHR
(QOD/H\ODUHJXODFLyQGHODUHVSRQVDELOLGDGSHQDOGHORVPHQRUHV
HVWiEDVDGDSULPRUGLDOPHQWH
D(QODUHSUHQVLyQSULYDGD\QRSHQDO
E(QYDORUDUHVSHFLDOPHQWHHOLQWHUpVGHOPHQRU
F(QODHYLWDFLyQGHORVGHOLWRVDWUDYpVGHOUHFRJLPLHQWRGHOPHQRUHQHVWDEOHFLPLHQWRV
DGHFXDGRV
(OH[SHGLHQWHSDUDODDSOLFDFLyQGHOD/H\GHGHHQHURVHUi
LQVWUXLGRSRU
D(O-XH]GH0HQRUHV
E/D3ROLFtD-XGLFLDOHVSHFLDOL]DGD
F(O0LQLVWHULR)LVFDO
$ORVHIHFWRVGHLQFRDFLyQGHOH[SHGLHQWHDXQPHQRUHVWHWHQGUiGHUH
FKRD
D6HULQIRUPDGRSRUHO-XH]HO0LQLVWHULR)LVFDOR$JHQWHGH3ROLFtDGHORVGHUHFKRV
TXHOHDVLVWHQ
E,QWHUYHQLUHQODVGLOLJHQFLDVTXHVHSUDFWLTXHQGXUDQWHODLQYHVWLJDFLyQSUHOLPLQDU\
HQHOSURFHVRMXGLFLDO\DDGRSWDUFXDOTXLHUUHVROXFLyQTXHOHFRQFLHUQDSHUVRQDOPHQWH
6REUH OD EDVH GH OD /H\ 5HJXODGRUD GH OD 5HVSRQVDELOLGDG 3HQDO GH ORV
0HQRUHVVLXQDSHUVRQDGHDxRVFRPHWHXQGHOLWR
D6HUiSXHVWRDGLVSRVLFLyQGHO-XH]GH*XDUGLD
E6HUiHQWUHJDGRDOD-XULVGLFFLyQGH0HQRUHV
F6HUiGHWHQLGR\MX]JDGRFRPRFXDOTXLHUFLXGDGDQRSHURFRQODDWHQXDQWHGHGLFKD
HGDG
&XDQGRHODXWRUGHXQKHFKRGHOLFWLYRVHDPHQRUGHDxRVVHUiSXHVWR
DGLVSRVLFLyQ
D'HO-XH]GH*XDUGLD
E'HO-XH]GH0HQRUHV
F'HO0LQLVWHULR)LVFDOTXHUHPLWLUiWHVWLPRQLRDOD(QWLGDG3~EOLFDGH3URWHFFLyQGH
0HQRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&RQ DUUHJOR D OD /H\ HVWiQ H[HQWRV GH OD DSOLFDFLyQ GHO &yGLJR
SHQDOORVPHQRUHVGH
DDxRV
EDxRV
FDxRV
/D/H\UHJXODGRUDGHODUHVSRQVDELOLGDGSHQDOGHORVPHQRUHVKDSXHVWR
GHPDQLILHVWRORVSULQFLSLRVVREUHORVTXHVHEDVDVHxDOHGHHQWUHORVVLJXLHQWHV
DOJXQRRDOJXQRVGHHOORV
D1DWXUDOH]DIRUPDOPHQWHSHQDOSHURPDWHULDOPHQWHVDQFLRQDGRUDHGXFDWLYDGHOFRQ
WHQLGRGHOD/H\
E'LIHUHQFLDFLyQGHGLYHUVRVWUDPRVDHIHFWRVSURFHVDOHV\VDQFLRQDGRUHVGHORVPH
QRUHV\XQFRQWUROMXGLFLDOGHODHMHFXFLyQGHODVPHGLGDVDGRSWDGDV
(OGHUHFKRGHO(VWDGRSDUDLPSRQHUHOFDVWLJRGHXQDSHQDDOLQIUDFWRUGH
ODOH\VHGHQRPLQD
D'HUHFKRSHQDOREMHWLYR
F1LQJXQDGHODVGRVUHVSXHVWDVHVFLHUWD
(V'HUHFKRSHQDOREMHWLYR
D(O&yGLJRSHQDO\ODVOH\HVSHQDOHVHVSHFLDOHV
E/DIDFXOWDGSDUDHMHUFHUHOSRGHUVDQFLRQDGRU
(VWiFDWDORJDGDFRPRSHQDJUDYH
D/DLQKDELOLWDFLyQDEVROXWD
E/DSULVLyQSRUPHQRVGHFXDWURDxRV
F/DVXVSHQVLyQGHHPSOHRRFDUJRS~EOLFRKDVWDFLQFRDxRV
/DOH\FDOLILFDDODSHUVRQDTXHFRRSHUDDODHMHFXFLyQGHXQKHFKRGH
OLFWLYRFRQXQDFWRWDQHVHQFLDOTXHVLQHOFXDOQRVHKXELHVHSRGLGROOHYDUDFDER
GLFKRGHOLWRFRPR
D$XWRU
E&yPSOLFH
F(QFXEULGRU
'HHQWUHODVVLJXLHQWHVVHxDOHODUHVSXHVWDLQFRUUHFWD
D/DOH\SHQDOWHQGUiHIHFWRUHWURDFWLYRVLHQHOODQRVHGLVSXVLHUDORFRQWUDULR
E'HQRGHFLUVHRWUDFRVDODVOH\HVHQWUDQHQYLJRUDORVYHLQWHGtDVGHVXSXEOLFDFLyQ
F8QDOH\VyORVHGHURJDSRURWUDSRVWHULRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOHVVRQODVIRUPDVGHSDUWLFLSDFLyQHQXQKHFKRGHOLFWLYR"
D&RPRDXWRUPDWHULDO\FRPRFyPSOLFH
E&RPRFRRSHUDGRUQHFHVDULR
$ORVDXWRUHVGHWHQWDWLYDGHXQGHOLWRVHOHVLPSRQGUi
D/DPLVPDSHQDVHxDODGDSRUODOH\SDUDHOGHOLWRFRQVXPDGR
E/DSHQDLQIHULRUHQXQJUDGRDODVHxDODGDSRUODOH\SDUDHOGHOLWRFRQVXPDGR
F/DSHQDLQIHULRUHQXQRRGRVJUDGRVDODVHxDODGDSDUDHOGHOLWRFRQVXPDGR
4XHODVQRUPDVGHO'HUHFKRSHQDOQRVHDQGLVSRQLEOHVSRUODYROXQWDGGH
ORVVXMHWRVDTXLHQHVVHDSOLFDTXLHUHGHFLUTXHVHWUDWDGHXQ'HUHFKR
D,PSHUDWLYR
E2SWDWLYR
F$OHDWRULR
/RVHOHPHQWRVGHO'HUHFKRSHQDOVRQ
D,QIUDFFLyQOH\HV\MXHFHV
E'HOLWRVDQFLyQ\GHOLQFXHQWH
F'HOLWRVDQFLyQ\SULVLyQ
&XDQGR OD &RQVWLWXFLyQ HQ VX DUWtFXOR GLFH TXH QDGLH SXHGH VHU
FRQGHQDGRRVDQFLRQDGRSRUDFFLRQHVXRPLVLRQHVTXHHQHOPRPHQWRGHSURGX
FLUVH QR FRQVWLWX\DQ GHOLWR IDOWD R LQIUDFFLyQ DGPLQLVWUDWLYD VHJ~Q OD OHJLVODFLyQ
YLJHQWHHQDTXHOPRPHQWRHVWiHQXQFLDQGRHOSULQFLSLRGH
D3URSRUFLRQDOLGDG
E/HJDOLGDG
F,UUHWURDFWLYLGDG
$TXpHOHPHQWRQHFHVDULRSDUDODH[LVWHQFLDGHODLQIUDFFLyQSHQDODIHFWD
HOHUURUGHSURKLELFLyQUHJXODGRHQHO&yGLJRSHQDO"
D$ODFXOSDELOLGDG
E$ODDQWLMXULGLFLGDG
F$ODWLSLFLGDG
(QYLUWXGGHOSULQFLSLRUHDORGHSURWHFFLyQVHMX]JDUiQHQ(VSDxDDXQTXH
HOKHFKRVHKXELHVHFRPHWLGRHQHOH[WUDQMHURORVGHOLWRVGH
D7UDLFLyQUHEHOLyQRVHGLFLyQ
E/RVUHODWLYRVDOFRQWUROGHFDPELRV
F7RGRVORVGHOLWRVFLWDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDTXHSXHGDLPSRQHUVHXQDSHQDGHEHUi
D'HFLGLUORHO*RELHUQR
E(VWDUHVWDEOHFLGDHQXQDOH\\DSOLFDUODFXDOTXLHU$XWRULGDGDGPLQLVWUDWLYDRMXGLFLDO
F(VWDUHVWDEOHFLGDHQXQDOH\\DSOLFDUODXQ-XH]R7ULEXQDO
6LXQPHQRUGHDxRVSHURPD\RUGHFRPHWHXQKHFKRTXHHO&yGLJR
SHQDOFDOLILFDFRPRGHOLWR
D(VWiH[HQWRGHUHVSRQVDELOLGDGHQWRGRVORVDVSHFWRV
E7LHQHXQDUHVSRQVDELOLGDGDWHQXDGD
F6HOHDSOLFDUiOD/H\5HJXODGRUDGHOD5HVSRQVDELOLGDG3HQDOGHORV0HQRUHV
4XpQRPEUHUHFLEHHQOD/H\ODPHGLGDPHGLDQWHODFXDOODVSHU
VRQDVVRPHWLGDVDHOODUHVLGLUiQHQVXGRPLFLOLRKDELWXDO\DFXGLUiQDXQ&HQWUR
SOHQDPHQWHLQWHJUDGRHQODFRPXQLGDGDUHDOL]DUDFWLYLGDGHVGHDSR\RHGXFDWLYDV
IRUPDWLYDVODERUDOHVRGHRFLR"
D7UDWDPLHQWRDPEXODWRULR
E$VLVWHQFLDDXQ&HQWURGH'tD
F,QWHUQDPLHQWRHQUpJLPHQDELHUWR
(QTXpFRQVLVWHHOLXVSXQLHQGL"
D(QODVSHQDVTXHVHOHLPSRQHQDORVGHOLQFXHQWHV
E(QODIDFXOWDGTXHWLHQHHO(VWDGRSDUDFDVWLJDUDORVLQIUDFWRUHVGHODOH\
F(VODSDUWHGHO'HUHFKRTXHWUDWDGHODVSHQDVTXHSXHGHQLPSRQHUORV-XHFHV
/DVPHGLGDVGHVHJXULGDGTXHLPSRQHOD$XWRULGDG-XGLFLDOVHEDVDQ
D(QODSHOLJURVLGDGFULPLQDOGHOLPSXWDGR
E(QODGHVFRQILDQ]DGHTXHQRVHSUHVHQWDUiFXDQGRVHDOODPDGRSRUOD$XWRULGDG
-XGLFLDO
/DVDQWHULRUHVPHGLGDVGHVHJXULGDGSXHGHQFRQVLVWLUHQ
D3ULYDFLyQGHOLEHUWDGDOLPSXWDGR
E3ULYDFLyQGHFLHUWRVGHUHFKRVDOPLVPR
(QWUHORVHOHPHQWRVTXHFRQIRUPDODGHILQLFLyQGHOGHOLWRDFFLyQWtSLFD
DQWLMXUtGLFDFXOSDEOH\SXQLEOHFyPRVHGHQRPLQDDOUHFKD]R\UHSURFKHTXHSRU
VXFRQGXFWDVHOHKDFHDODXWRUGHXQGHOLWR"
D3XQLELOLGDG
E&XOSDELOLGDG
F7LSLFLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3RUOD/H\XQGHOLWRFRPHWLGRSRUXQPHQRU\VDQFLRQDGRFRQSHQD
VXSHULRUDGLH]DxRVSUHVFULEH
D$ORVGRFHDxRV
E$ORVFLQFRDxRV
F$ORVWUHVDxRV
/RV%DQGRVR'HFUHWRVTXHGLFWDQORV$OFDOGHVVDQFLRQDQGRDOJXQDVFRQ
GXFWDVGHORVYHFLQRVIRUPDQSDUWHGHOGHUHFKRSHQDO"
D6t
E1R
F6LODVDSUXHEDHO3OHQRGHO$\XQWDPLHQWRVt
&XDQGRHQHOLQGLYLGXRKD\YROXQWDGPDOLFLRVDGHGHOLQTXLUH[LVWH
D'ROR
E0DODIH
F0DOGDG
&XDQGR HO GHOLWR DXQ FRPHWLGR HQ HO H[WUDQMHUR DIHFWD D ORV LQWHUHVHV
HVSDxROHVVHSRGUiMX]JDUHQ(VSDxDHVWHSULQFLSLRHVHOOODPDGR
D5HDO
E8QLYHUVDO
F3HUVRQDO
/DVDQRPDOtDVRDOWHUDFLRQHVSVtTXLFDVVRQFDXVDVGH
D,QLPSXWDELOLGDG
E-XVWLILFDFLyQ
F,QFXOSDELOLGDG
/DILDQ]DHFRQyPLFDLPSXHVWDDOSURFHVDGR\TXHHVWHGHSRVLWySDUDRE
WHQHUVXOLEHUWDGVHGHYROYHUi
D&XDQGRUHFXUUDHQDO]DGDRDSHODFLyQ
E&XDQGRHOSURFHVDGRKDGHFODUDGRDQWHHO-XH]
F&XDQGRHOLPSXWDGRFRPSDUHFHHQMXLFLR
/DFRQVSLUDFLyQSDUDGHOLQTXLUHVXQDFWR
D'HHMHFXFLyQ
E3UHSDUDWRULR
F'HSURYRFDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DIDOWDGHSURYRFDFLyQVXILFLHQWHSRUSDUWHGHOTXHVHGHILHQGHHVUHTXL
VLWRLQGLVSHQVDEOHHQ
E/DOHJtWLPDGHIHQVD
F(OHMHUFLFLRGHXQFDUJR
4XHHOPDOFDXVDGRQRVHDPD\RUTXHHOTXHVHWUDWDGHHYLWDUHVXQD
FRQGLFLyQLQGLVSHQVDEOHHQ
D/DOHJtWLPDGHIHQVD
E(OHVWDGRGHQHFHVLGDG
F(OREUDUHQHOFXPSOLPLHQWRGHXQGHEHU
6LODOH\SRVWHULRUDXQDFRQGXFWDVHxDODSDUDXQGHOLWRXQDSHQDGHGRV
DxRVHQOXJDUGHORVWUHVILMDGRVDQWHULRUPHQWHSDUDHOPLVPRVHSRGUiUHEDMDUHO
WLHPSRGHODFRQGHQD"
D6t
E'HSHQGHUiGHOFRPSRUWDPLHQWRREVHUYDGRSRUHOSHQDGRHQODFiUFHO
F1R
/DWHUULWRULDOLGDGTXLHUHGHFLUTXH
D6yORVHDSOLFDUiODOH\SHQDODORVHVSDxROHVSRUVHUXQDOH\HVSDxROD
E6HDSOLFDUiODOHJDOLGDGHVSDxRODYLJHQWHDWRGDVODVSHUVRQDVTXHVHHQFXHQWUHQHQ
WHUULWRULRHVSDxRO
F6yORVHSRGUiDSOLFDUODOH\DORVHVSDxROHV\DORVH[WUDQMHURVTXHWHQJDQUHVLGHQFLD
OHJDOSHURQRDORVTXHHVWpQGHSDVRSRU(VSDxD
(OHQMXLFLDPLHQWRGHORVGHOLWRVGHWHUURULVPRFRPHWLGRVSRUPHQRUHVGH
HGDGSHQDOFRUUHVSRQGH
D$OD$XGLHQFLD1DFLRQDO
E$O-X]JDGR&HQWUDOGH0HQRUHV
F$ORV-X]JDGRVGH0HQRUHV
(OMXLFLRGHUHSURFKHTXHVHKDFHDODXWRUGHOGHOLWRSRUTXHSXGRDFWXDUGH
XQPRGRGLIHUHQWHDFRPRORKL]RVHGHQRPLQD
D,PSXWDFLyQ
E&XOSDELOLGDG
F3XQLELOLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RV TXH LQGXFHQ GLUHFWDPHQWH D RWURV D FRPHWHU XQ GHOLWR VH FDVWLJDQ
FRPR
D&yPSOLFHV
E&RRSHUDGRUHV
F$XWRUHV
/DSRWHVWDGMXULVGLFFLRQDOFRUUHVSRQGH
E$O3XHEOR
F$ORV-X]JDGRV\7ULEXQDOHV
(OSRGHUGHO(VWDGRSDUDGLFWDUQRUPDVSHQDOHV\DSOLFDUODVDORVLQIUDFWR
UHVUHFLEHHOQRPEUHGH
D'HUHFKRSHQDOVXEMHWLYR
E'HUHFKRSHQDOREMHWLYR
F3RWHVWDGMXULVGLFFLRQDO
/DVIDOWDV\VXVSHQDVVHUHFRJHQHQHO&yGLJR3HQDOHQVX/LEUR
D3ULPHUR
E6HJXQGR
F7HUFHUR
/DVFRQGXFWDVUHFRJLGDVHQODOH\SHQDOTXHOOHYDQLPSOtFLWDXQDVDQFLyQ
VRQ
D'HOLWRV\IDOWDV
E'HOLWRV
F)DOWDV
'RORVLJQLILFD
D&RQFLHQFLD\YROXQWDGGHFRPHWHUXQGHOLWRRIDOWD
E)DOWDGHOFXLGDGRGHELGRHQODDFWXDFLyQGHOVXMHWRDOUHDOL]DUODDFFLyQ
F&RQGXFWDFRQWUDULDDGHUHFKR
(OSULQFLSLRJHQHUDOGHWHUULWRULDOLGDGWLHQHXQDVH[FHSFLRQHVTXHVRQ
D(OSULQFLSLROHJDOUHDORGHSURWHFFLyQ
E(OSULQFLSLRUHDOSHUVRQDO\XQLYHUVDO
F(OSULQFLSLRGHFRPXQLGDGGHLQWHUHVHVUHDO\XQLYHUVDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LHOFXOSDEOHGDFRPLHQ]RDODHMHFXFLyQGHOKHFKRGHOLFWLYR\QRSUDFWLFD
WRGRVORVDFWRVTXHGHEHUtDQSURGXFLUHOGHOLWRSRUFDXVDVDMHQDVDVXSURSLR\YR
OXQWDULRGHVLVWLPLHQWRQRVHQFRQWUDPRV
D$QWHXQGHOLWRHQJUDGRGHWHQWDWLYD
E$QWHXQGHOLWRFRQVXPDGR
F$QWHXQGHOLWRHQJUDGRGHIUXVWUDFLyQSRUTXHQRVHSURGXFHHOGHVLVWLPLHQWR
3RUTXpQRVHUHFRJHHQHO&yGLJRSHQDOODFRQGHQDDFDGHQDSHUSHWXD"
D3RUTXHXQDSHQDGHGXUDFLyQLQGHILQLGDLUtDFRQWUDHOSULQFLSLRGHOHJDOLGDG
E<DTXHSRUVXGXUDFLyQLUtDFRQWUDHOSULQFLSLRGHSURSRUFLRQDOLGDG
F6XDSOLFDFLyQVHUtDFRQWUDULDDOSULQFLSLRGHFXOSDELOLGDG
6HJ~QHO&yGLJRSHQDOVHFRQVLGHUDQDXWRUHV
D/RVTXHLQGXFHQGLUHFWDPHQWHDRWURXRWURVDHMHFXWDUHOGHOLWR
E/RVTXHFRRSHUDQDVXHMHFXFLyQFRQXQDFWRVLQHOFXDOVHKXELHVHHIHFWXDGRHO
GHOLWR
F/RVTXHFRODERUDQFRQXQKHFKRTXHQRHVLPSUHVFLQGLEOHSDUDFRPHWHUHOGHOLWR
/DOH\SHQDOVHDSOLFDUiDWRGRVORVGHOLWRVTXHVHFRPHWDQGHQWURGHOWH
UULWRULRQDFLRQDOGHDFXHUGRFRQHOSULQFLSLRGHWHUULWRULDOLGDG
D6yORVLVRQFRPHWLGRVSRUHVSDxROHV
E6HDFXDOIXHUHODQDFLRQDOLGDGGHOLQFXHQWH
F6yORVLVRQFRPHWLGRVSRUFLXGDGDQRVGHOD8QLyQ(XURSHD
(OWUDWDPLHQWRGHORVGHOLWRVGHWHUURULVPRFRPHWLGRVSRUPHQRUHVGHHGDG
SHQDOFRUUHVSRQGH
D$OD$XGLHQFLD1DFLRQDO
F$ORV-X]JDGRVGH0HQRUHV
/DVVDQFLRQHVSHQDOHVVRQ
D'HOLWRVJUDYHVGHOLWRVPHQRVJUDYHV\IDOWDV
E3HQDV\PHGLGDVGHVHJXULGDG
F3HQDVPHGLGDVGHVHJXULGDG\SULVLyQSUHYHQWLYD
(QTXp/LEURGHO&yGLJRSHQDOVHUHFRJHQODVIDOWDV\VXVSHQDV"
D3ULPHUR
E6HJXQGR
F7HUFHUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OFRQMXQWRGHQRUPDVMXUtGLFDVHVWDEOHFLGDVSRUHO(VWDGRTXHGHILQHQORV
GHOLWRV\VHxDODQODVSHQDVFRUUHVSRQGLHQWHVVHGHQRPLQD'HUHFKR
D3HQDOVXEMHWLYR
E3HQDOREMHWLYR
F3HQDOFRP~Q
/DIUDVH1LQJ~QGHOLWRQLQJXQDSHQDVLQSUHYLDOH\UHSUHVHQWD
D/DJDUDQWtDFULPLQDO
E(O3ULQFLSLRGHHMHFXFLyQ
F(O3ULQFLSLRGHOHJDOLGDG
&XDQGRGHFLPRVTXHXQRGHORVHOHPHQWRVGHOGHOLWRWLHQHTXHVHUODWL
SLFLGDGTXpVLJQLILFD"
D4XHHVFRQWUDULRD'HUHFKR
E4XHODDFFLyQWLHQHTXHILJXUDUHQODOH\FRPRFRQGXFWDGHOLFWLYD
F1LQJXQDGHODVGRVUHVSXHVWDVHVFRUUHFWD
(O'HUHFKRSHQDOHVSHFLDOHV
D7RGRHOFRQWHQLGRGHOSURSLR&yGLJRSHQDO
E(OTXHVHDSOLFDDGHWHUPLQDGDVSHUVRQDVSRUVXSRVLFLyQVRFLDO
F(OTXHFRQWHPSODQODVOH\HVSHQDOHVHVSHFtILFDVSDUDGHWHUPLQDGDVPDWHULDV

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E3URSRVLFLyQ
E/DGHWHQFLyQ\SULVLyQSUHYHQWLYD\ODVGHPiVPHGLGDVFDXWHODUHVGHQDWXUDOH]D
SHQDO
D/DGHLQKDELOLWDFLyQDEVROXWD
D6t
E([FOXVLYDPHQWHHO(VWDGR
F$PEDVUHVSXHVWDVDQWHULRUHVVHSXHGHQDSOLFDU
E(QHO6HJXQGR
D/D-XULVGLFFLyQSHQDOHVSDxROD
D$XWRUHV
E&yPSOLFHV
D3RUHOGHQRQELVLQLGHP
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E(OTXHUHDOL]DHOKHFKRSRUPHGLRGHRWURGHOTXHVHVLUYHFRPRLQVWUXPHQWR
E&RQVSLUDFLyQ
E3URFHVDO
F/DWHPSRUDOLGDG
D$O0LQLVWHULR)LVFDO
D7HQWDWLYD
D
F
F'ROR
F1RKD\GHOLWRQLSHQDVLQOH\DQWHULRUDVXSHUSHWUDFLyQ
F7RGRVFRQLQGHSHQGHQFLDGHODQDFLRQDOLGDGGHVXDXWRU
E&XDQGRH[SUHVDPHQWHORGLVSRQJDODOH\
F1LQJXQDUHVSXHVWDDQWHULRUHVWiFRPSOHWD
D3ULQFLSLRGHOHJDOLGDGHQPDWHULDVDQFLRQDGRUD
D/HYHV
F(VWiGHVFULWDHQODOH\
E'HEHVHUDEVXHOWR
F6LQLQWHQFLRQDOLGDG
D6LVRQFRQWUDODVSHUVRQDVRHOSDWULPRQLR
F3URSRVLFLyQ
D$FWRVSUHSDUDWRULRV
D/HJDOLGDG
E&RQVSLUDFLyQ
E'RORHLPSUXGHQFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E&RQVXPDGR
F'HFXDOTXLHUDGHODVIRUPDVDQWHULRUHV
D0L[WDGHSDUHQWHVFR
E(VWiSUHYLVWDHQODVOH\HVSHQDOHV
E(QHO&yGLJRSHQDO
E2FKR
D6HLV
E6LQGRORRLPSUXGHQFLD
F,PSRVLEOH
E([LPHQWH
E-XVWLILFDFLyQ
F$WHQXDQWH
D([LPHQWH
F4XHVHGHQWRGDVODVFLUFXQVWDQFLDVDQWHULRUHV
F(QORVFDVRVHVSHFLDOPHQWHSUHYLVWRVSRUODOH\
D&ULPLQDOSHQDOSURFHVDO\GHHMHFXFLyQ
E$JUDYDQWH
E&RQVSLUDFLyQ
F$JUDYDQWH
F'HUHFKRSHQDOREMHWLYR
D6LIDYRUHFHQDOUHR
F$ORVYHLQWHGtDVGHVXSXEOLFDFLyQHQHO%ROHWtQ2ILFLDOGHO(VWDGR
E7HUULWRULDOLGDG
F'H3URWHFFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D5HDO
F3XQLEOH
D([LPHQWH
D&ULPLQDO
D&RQVSLUDFLyQ
F$WHQXDQWH
D$XWRUHV
F,UUHOHYDQWH
D3XQLEOH
D([LPHQWH
F,PSXWDELOLGDG
D'HHMHFXFLyQ
F5HVRFLDOL]DFLyQ
E7HQWDWLYD
E1R
E7HQWDWLYD
D6t
E([FOXVLYRGHO(VWDGR
D3~EOLFR
E/DSULPDFtDGHOLQWHUpVS~EOLFRHQXQRVREUHHOLQWHUpVSULYDGRHQHORWUR
F6HOHSXHGHDSOLFDUODOH\HVSDxROD
D$WHQXDQWH
D,UUHVSRQVDEOHFULPLQDOPHQWHSHURUHVSRQVDEOHFLYLOPHQWHGHOPLVPR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D/DJUDYHGDGGHOKHFKRFRPHWLGR
F (VWDU HVWDEOHFLGD SUHYLDPHQWH HQ XQD OH\ \ DSOLFDUOD XQ -XH] R 7ULEXQDO GH
-XVWLFLD
D&RQVSLUDFLyQ\SURSRVLFLyQ
D9tFWLPDRSHUMXGLFDGR
E$QWLMXUtGLFD
F(OGHLUUHWURDFWLYLGDG
D$XWRUHV
F/DVWUHVFLWDGDVVRQFLHUWDV
D6t
D/DVDFFLRQHV\RPLVLRQHVGRORVDVRLPSUXGHQWHVSHQDGDVSRUODOH\
F4XHVHKDOOHQHQWHUULWRULRHVSDxROFXDOTXLHUDTXHVHDVXQDFLRQDOLGDG
D4XHIDYRUH]FDDOUHR
E(QYDORUDUHVSHFLDOPHQWHHOLQWHUpVGHOPHQRU
F(O0LQLVWHULR)LVFDO
E6HUiHQWUHJDGRDOD-XULVGLFFLyQGH0HQRUHV
F'HO0LQLVWHULR)LVFDOTXHUHPLWLUiWHVWLPRQLRDOD(QWLGDG3~EOLFDGH3URWHFFLyQ
GH0HQRUHV
DDxRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D(O&yGLJRSHQDO\ODV/H\HVSHQDOHVHVSHFLDOHV
D/DLQKDELOLWDFLyQDEVROXWD
D$XWRU
D/DOH\SHQDOWHQGUiHIHFWRUHWURDFWLYRVLHQHOODQRVHGLVSXVLHUDORFRQWUDULR
F/DSHQDLQIHULRUHQXQRRGRVJUDGRVDODVHxDODGDSDUDHOGHOLWRFRQVXPDGR
D,PSHUDWLYR
E'HOLWRVDQFLyQ\GHOLQFXHQWH
E/HJDOLGDG
D$ODFXOSDELOLGDG
F7RGRVORVGHOLWRVFLWDGRV
F(VWDUHVWDEOHFLGDHQXQDOH\\DSOLFDUODXQ-XH]R7ULEXQDO
F6HOHDSOLFDUiOD/H\5HJXODGRUDGHOD5HVSRQVDELOLGDG3HQDOGHORV0HQRUHV
E$VLVWHQFLDDXQ&HQWURGH'tD
E(QODIDFXOWDGTXHWLHQHHO(VWDGRSDUDFDVWLJDUDORVLQIUDFWRUHVGHODOH\
E&XOSDELOLGDG
E$ORVFLQFRDxRV
E1R
D'ROR
D5HDO
D,QLPSXWDELOLGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F&XDQGRHOLPSXWDGRFRPSDUH]FDHQMXLFLR
E3UHSDUDWRULR
E/DOHJtWLPDGHIHQVD
E(OHVWDGRGHQHFHVLGDG
D6t
E6HDSOLFDUiODOHJDOLGDGHVSDxRODYLJHQWHDWRGDVODVSHUVRQDVTXHVHHQFXHQ
WUHQHQWHUULWRULRHVSDxRO
E&XOSDELOLGDG
F$XWRUHV
F$ORV-X]JDGRV\7ULEXQDOHV
D'HUHFKRSHDOVXEMHWLYR
F7HUFHUR
D'HOLWRV\IDOWDV
D&RQFLHQFLD\YROXQWDGGHFRPHWHUXQGHOLWR
E(OSULQFLSLRUHDOSHUVRQDO\XQLYHUVDO
D$QWHXQGHOLWRHQJUDGRGHWHQWDWLYD
D/RVTXHLQGXFHQDRWURXRWURVDHMHFXWDUHOGHOLWR
E6HDFXDOIXHUHODQDFLRQDOLGDGGHOGHOLQFXHQWH
E3HQDV\PHGLGDVGHVHJXULGDG
F7HUFHUR
E3HQDOREMHWLYR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(O3ULQFLSLRGHOHJDOLGDG
E4XHODDFFLyQWLHQHTXHILJXUDUHQODOH\FRPRFRQGXFWDGHOLFWLYD
F(OTXHFRQWHPSODQODVOH\HVSHQDOHVHVSHFtILFDVSDUDGHWHUPLQDGDVPDWHULDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
12&,1'('(5(&+2352&(6$/3(1$/
&21&(372'(-85,6',&&,1<'(&203(7(1&,$/265*$126
'(/$-85,6',&&,13(1$/&21&(372'('(181&,$</$2%/,*$&,1
'('(181&,$5/$'(7(1&,1&21&(372<'85$&,1/$2%/,*$&,1
'('(7(1(5/26'(5(&+26'(/'(7(1,'2(/352&(',0,(172'(
+%($6&25386(/0,1,67(5,2),6&$/)81&,21(6
6HxDOHODUHVSXHVWDFRUUHFWDHQUHODFLyQFRQODMXULVGLFFLyQPLOLWDU\VXiP
ELWRGHDSOLFDFLyQTXHRIUHFHOD&RQVWLWXFLyQ(VSDxRODHQVXDUWtFXOR
D/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDV
WUHQVH\HQORVVXSXHVWRVGHHVWDGRGHDODUPDGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQV
WLWXFLyQ
E/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDVWUHQ
VH\HQORVVXSXHVWRVGHHVWDGRGHVLWLRGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQVWLWXFLyQ
F/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDV
WUHQVH \ HQ ORV VXSXHVWRV GH HVWDGR GH H[FHSFLyQ GH DFXHUGR FRQ ORV SULQFLSLRV GH OD
&RQVWLWXFLyQ
4XLpQQRPEUDDO)LVFDO*HQHUDOGHO(VWDGR"
D(O*RELHUQRDSURSXHVWDGHODV&RUWHV*HQHUDOHV
E(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQJUHVRGHORV'LSXWDGRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4Xp-XH]HVFRPSHWHQWHDQWHODSHWLFLyQGH+iEHDV&RUSXVSRUXQPHQRU
GHHGDG"
D(O-XH]GH0HQRUHV
E(O-XH]GH,QVWUXFFLyQGRQGHVHKXELHUHFRPHWLGRODDFFLyQGHOPHQRU
F(O-XH]GH,QVWUXFFLyQGHOOXJDUGRQGHVHHQFXHQWUHHOSULYDGRGHOLEHUWDG
(O3UHVLGHQWHGHO7ULEXQDO6XSHULRUGH-XVWLFLDGHXQD&RPXQLGDG$XWyQRPD
ORHVWDPELpQGHOD6DOD
D'HOR&LYLO\3HQDO
E'HOR&RQWHQFLRVR$GPLQLVWUDWLYR
F'HOR6RFLDO
/DFRPLVLyQGHIDOWDVSHQDOHVVHFDVWLJDUi
D6yORVLVRQFRQVXPDGDVH[FHSWRODVLQWHQWDGDVFRQWUDODVSHUVRQDVRHOSDWULPRQLR
TXHVHFDVWLJDUiQLQFOXVRHQJUDGRGHWHQWDWLYD
E1RVHFDVWLJDUiQHQQLQJ~QFDVR
F7RGDVVHFDVWLJDUiQVLHPSUHEDVWDUiTXHVHDQLQWHQWDGDV
6HxDOHGHHQWUHODVVLJXLHQWHVODTXHVHDXQD)LVFDOtD(VSHFLDO
D/D)LVFDOtD$QWLGURJD
E/D)LVFDOtDFRQWUDOD&RUUXSFLyQ\OD&ULPLQDOLGDG2UJDQL]DGD
F$PEDV)LVFDOtDVVRQ(VSHFLDOHV
$XQGHWHQLGRLQFRPXQLFDGRSRUGHOLWRGHWHUURULVPRFRQTXpSDUWLFXODULGDG
VHOHSXHGHWRPDUGHFODUDFLyQHQ&RPLVDUtD"
D&RQQLQJXQDHQHVSHFLDO\DTXHVXVGHUHFKRVVRQORVPLVPRVTXHFXDOTXLHUGHWH
QLGR
E6HWLHQHTXHSHUVRQDUHQ&RPLVDUtDREOLJDWRULDPHQWHOD$XWRULGDG-XGLFLDORSHUVRQD
HQTXLHQGHOHJXH
F4XHHOGHWHQLGRHQQLQJ~QFDVRSXHGHHOHJLU/HWUDGRTXHOHDVLVWD\DTXHSUHFHS
WLYDPHQWHVHOHQRPEUDGHRILFLRFRQHOTXHQRWHQGUiGHUHFKRDODHQWUHYLVWDUHVHUYDGD
WUDVVXGHFODUDFLyQ
&RQHOILQGHHYLWDUDXQHQFDUWDGRTXHSXHGDUHDOL]DUGHOLWRVSRVWHULRUHVHQ
XQD FDXVD HO -XH] FRPSHWHQWH SXHGH DGRSWDU XQD VHULH GH PHGLGDV FDXWHODUHV
TXpUHVSXHVWDHVODFRUUHFWD"
D4XHWHQJDUD]RQHVIXQGDGDVGHTXHVHSXHGHSRQHUHQSHOLJURHOSURFHVRSHQDOHQ
WUiPLWH
E4XHVHDQGHVIDYRUDEOHVORVDQWHFHGHQWHVSHQDOHVGHOHQFDXVDGR
F7DQVyORODVSXHGHDGRSWDUVLVHORSLGHHO0LQLVWHULR)LVFDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D/H\GH(QMXLFLDPLHQWR&ULPLQDOSUHFHSW~DTXHQRHVWiQREOLJDGRVDGH
QXQFLDUHOKHFKRGHOTXHWHQJDQFRQRFLPLHQWRSRUUD]yQGHVXRILFLRRFDUJRRELHQ
SRUSDUHQWHVFR
D(O$ERJDGR\HO3URFXUDGRU
E/RVKLMRVQDWXUDOHVUHVSHFWRGHOSDGUHHQWRGRFDVR
F/RVKLMRVQDWXUDOHVUHVSHFWRGHODPDGUHHQWRGRFDVR
'HFRQIRUPLGDGFRQODDFXVDFLyQ\HQORVFDVRVHVWDEOHFLGRVSRUODOH\VH
WUDWDGHORVOODPDGRVMXLFLRVUiSLGRVGHGHWHUPLQDGRVGHOLWRVDTXLpQFRUUHV
SRQGHGLFWDUVHQWHQFLD"
D$OD6DODGHOR3HQDOGHOD$XGLHQFLD3URYLQFLDO
E$OSURSLR-XH]GH,QVWUXFFLyQ
F$O0LQLVWHULR)LVFDO
4XLpQHVVRQVXMHWRVGHODGHQXQFLD"
D(OGHQXQFLDQWHHOGHQXQFLDGR\HO-XH]FRPSHWHQWH
E/D3ROLFtD\HO0LQLVWHULR)LVFDO
F7RGRVHOORV
'HOUHFXUVRGHFDVDFLyQWHQGUiFRQRFLPLHQWR
D/D$XGLHQFLD3URYLQFLDO
E(O7ULEXQDO6XSUHPR
F/D$XGLHQFLD1DFLRQDO
'HORVUHFXUVRVTXHHVWDEOH]FDODOH\FRQWUDODVUHVROXFLRQHVGLFWDGDVSRU
ORV-X]JDGRVGH,QVWUXFFLyQ\GHOR3HQDOGHXQDSURYLQFLDFRQRFHUiQ
E/D$XGLHQFLD1DFLRQDO
F(O7ULEXQDO6XSHULRUGH-XVWLFLDGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
(VFRPSHWHQWHOD,QVWLWXFLyQGHO-XUDGRSDUDHQWHQGHUGHXQGHOLWRGHFR
KHFKR"
D1R
E6t
F'HSHQGHGHOGDxRFDXVDGR
(O)LVFDO*HQHUDOGHO(VWDGRVHQRPEUDSDUDXQPDQGDWRGHFXDWURDxRVVL
FHVDHO*RELHUQRTXHORSURSXVRTXpRFXUUHFRQHO)LVFDO*HQHUDO"
D4XHFHVDUiFXDQGRWHUPLQHVXPDQGDWRGHFXDWURDxRV
E4XHFHVDUiDODYH]TXHGLFKR*RELHUQR
F/RTXHGLVSRQJDHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&RUUHVSRQGH HO FRQRFLPLHQWR \ IDOOR GH ORV MXLFLRV GH IDOWDV VDOYR ORV GH
FRPSHWHQFLDGHORV-X]JDGRVGH3D]D
D/RV-X]JDGRVGHOR3HQDO
E/RV-X]JDGRVGH,QVWUXFFLyQ
F/RV-X]JDGRV&HQWUDOHVGHOR3HQDO
&RUUHVSRQGHODLQVWUXFFLyQ\HOHQMXLFLDPLHQWRGHODVFDXVDVFRQWUDHO3UH
VLGHQWHGHO7ULEXQDO6XSUHPR
D$OD6DOD(VSHFLDOGHO7ULEXQDO6XSUHPR
E$OD6DOD6HJXQGDR6DODGHOR3HQDOGHO7ULEXQDO6XSUHPR
F$OD6DODGHOR3HQDOGHOD$XGLHQFLD1DFLRQDO
&XiQWDV6DODVWLHQHHO7ULEXQDO6XSUHPRGH-XVWLFLD"
D7UHV
E&LQFR
F&XDWUR
4XpyUJDQRMXULVGLFFLRQDOHVWiDFDUJRGHODWUDPLWDFLyQGHORVH[SHGLHQWHV
GHH[WUDGLFLyQSDVLYD"
D/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
/DVFDXVDV\GLOLJHQFLDVGHOD$XGLHQFLD1DFLRQDOODVLQVWUX\HXQ-X]JDGR
D'H,QVWUXFFLyQ
E'H3ULPHUD,QVWDQFLD
F&HQWUDOGH,QVWUXFFLyQ
/RV7ULEXQDOHV6XSHULRUHVGH-XVWLFLDH[WLHQGHQVXMXULVGLFFLyQ
D$O0XQLFLSLRGRQGHWHQJDQVXVHGH
E$ODVUHVSHFWLYDV&RPXQLGDGHV$XWyQRPDV
F$O3DUWLGRMXGLFLDO
/DDFFLyQSHQDOSRUGHOLWRHVS~EOLFD\SXHGHQHMHUFHUOD
D7RGRVORVHVSDxROHVKD\DQVLGRRQRSHUMXGLFDGRVSRUHOGHOLWR
E/RVHVSDxROHVFXDQGRKD\DQVLGRSHUMXGLFDGRVSRUHOGHOLWR
F/RVHVSDxROHVRH[WUDQMHURVFRQDUUHJORDODOH\KD\DQVLGRRQRSHUMXGLFDGRVSRUHO
GHOLWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QORVSURFHVRVSRUGHOLWRVS~EOLFRV\VHPLS~EOLFRVHO0LQLVWHULR)LVFDOHV
SDUWH
D1HFHVDULD\WpFQLFD
E1HFHVDULDQRWpFQLFD
F1RQHFHVDULDSHURVtWpFQLFD
/RV-X]JDGRVGHOR3HQDOVRQFRPSHWHQWHVSDUD
D(OFRQRFLPLHQWR\IDOORGHODVFDXVDVSRUGHOLWRVFDVWLJDGRVFRQSHQDSULYDWLYDGH
OLEHUWDGQRVXSHULRUDFLQFRDxRVPXOWDFXDOTXLHUDTXHVHDVXFXDQWtD\SULYDFLyQGHOSHU
PLVRGHFRQGXFLU
E(OFRQRFLPLHQWR\IDOORGHWRGDVODVFDXVDVSRUGHOLWRDH[FHSFLyQGHODVTXHODOH\
DWULEX\HDOD$XGLHQFLD1DFLRQDO
F(OFRQRFLPLHQWR\IDOORGHWRGDVODVFDXVDVVHJXLGDVSRUHOSURFHGLPLHQWRDEUHYLDGR
4XpyUJDQRHVHOHQFDUJDGRGHFRQWURODU\VXSHUYLVDUHOFXPSOLPLHQWRGH
ODVVHQWHQFLDVSHQDOHV"
D/D$XGLHQFLD3URYLQFLDOTXHORFRQGHQy
E(O-X]JDGRGH9LJLODQFLD3HQLWHQFLDULD
F(O-X]JDGRGHOR3HQDOFRPSHWHQWH
/DDFWXDFLyQGHO0LQLVWHULR)LVFDOUHVSRQGHDFULWHULRVGH
D8QLGDGGHDFWXDFLyQGHSHQGHQFLDMHUiUTXLFDOHJDOLGDGHLPSDUFLDOLGDG
E'HSHQGHQFLDMHUiUTXLFDVXERUGLQDFLyQHLPSDUFLDOLGDG
F/HJDOLGDGLPSDUFLDOLGDG\XQLGDGGHDFFLyQ
/D$XGLHQFLD1DFLRQDOFXiQWDV6DODVWLHQH"
D7UHVGHOR3HQDOGHOR&RQWHQFLRVR$GPLQLVWUDWLYR\GHOR6RFLDO
E&XDWURGHOR3HQDOGHOR&RQWHQFLRVR$GPLQLVWUDWLYRGHOR6RFLDO\GH$SHODFLyQ
F&LQFRGHOR3HQDOGHOR&LYLOGHOR&RQWHQFLRVR$GPLQLVWUDWLYRGHOR6RFLDO\GHOR
0LOLWDU
4Xp-XH]R7ULEXQDOHVFRPSHWHQWHSDUDFRQRFHUGHORVSURFHGLPLHQWRVGH
+DEHDV&RUSXV"
D/D$XGLHQFLD1DFLRQDO
E(OGH,QVWUXFFLyQGHOOXJDUHQTXHVHKDOOHODSHUVRQDSULYDGDGHOLEHUWDG
F/D$XGLHQFLD3URYLQFLDOPiVSUy[LPDDOOXJDUGHODGHWHQFLyQ
4XLpQSURSRQHHOQRPEUDPLHQWRGHO3UHVLGHQWHGHO7ULEXQDO6XSUHPR"
D(VHOHJLGRSRUPD\RUtDDEVROXWDHQWUHORVSURSLRV0DJLVWUDGRVGHO7ULEXQDO6XSUHPR
E&RQMXQWDPHQWHORV3UHVLGHQWHVGHO&RQJUHVR\GHO6HQDGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
E(O5H\DSURSXHVWDGHODV&RUWHV*HQHUDOHV
F(O5H\DSURSXHVWDGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
(OFRQMXQWRGHDFWLYLGDGHVTXHVHUHDOL]DQGHVGHTXHVHFRPHWHHOKHFKR
GHOLFWLYRDSOLFDQGRODVOH\HVSHQDOHVSDUDTXHHO(VWDGRSXHGDHMHUFHUHOGHUHFKR
DOFDVWLJRRLXVSXQLHQGLVHFRQRFHFRQHOQRPEUHGH
D'HUHFKRSHQDO
E'HUHFKRSURFHVDO
F'HUHFKRSURFHVDOSHQDO
4XpyUJDQRMXGLFLDOFRQWLQ~DORVSURFHVRVLQLFLDGRVHQORV-X]JDGRV&HQ
WUDOHVGHOR3HQDO"
E(O7ULEXQDO6XSHULRUGH-XVWLFLDGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
4XpSULQFLSLRGHHQWUHORVVLJXLHQWHVKDWHQLGRHQFXHQWDOD/H\TXHUH
JXODOD,QVWLWXFLyQGHO-XUDGR"
D/DIXQFLyQGHO-XUDGRHVREOLJDWRULD
E'LFKDIXQFLyQQRVHUiUHPXQHUDGD
F/RVVXSXHVWRVGHUHFXVDFLyQVHUHJXODQSRUHO3RUWDYR]GHO-XUDGR
3RUFXiQWRVPLHPEURVDGHPiVGHVX3UHVLGHQWHHVWiLQWHJUDGRHO&RQVH
MR*HQHUDOGHO3RGHU-XGLFLDO"
D3RUGRFHPLHPEURV
E3RUTXLQFHPLHPEURV
F3RUYHLQWHPLHPEURV
/RV-XHFHVGH3D]VRQQRPEUDGRVSRUXQSHUtRGRGHFXDWURDxRVSRU
D/D6DODGH*RELHUQRGHO7ULEXQDO6XSHULRUGH-XVWLFLDFRUUHVSRQGLHQWH
E(O$\XQWDPLHQWRGHODORFDOLGDGHQ3OHQR\SRUPD\RUtDDEVROXWD
F(O3UHVLGHQWHGHOD$XGLHQFLD3URYLQFLDOFRUUHVSRQGLHQWH
(VFRPSHWHQWHSDUDWUDPLWDUORVH[SHGLHQWHVGHH[WUDGLFLyQSDVLYD
D(O7ULEXQDO6XSHULRUGH-XVWLFLDUHVSHFWLYR
E(O-XH]&HQWUDOGH,QVWUXFFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QUHTXLVLWRLQHOXGLEOHGHOSURFHVRSHQDOHV
D/DLQLFLDFLyQGHOPLVPRDLQVWDQFLDGHSDUWH
E/DFRQVWDWDFLyQGHODUHDOL]DFLyQGHOKHFKRSRUHOTXHVHWUDPLWD
F/DUHVROXFLyQFRQGHQDWRULDGHOPLVPR
(O7ULEXQDOGHO-XUDGRDGHPiVGHVX0DJLVWUDGR3UHVLGHQWH\GRV-XUDGRV
VXSOHQWHVGHFXiQWRV-XUDGRVWLWXODUHVVHFRPSRQH"
D'HGRFH-XUDGRV
E'HGLH]-XUDGRV
F'HQXHYH-XUDGRV
/DILDQ]DHFRQyPLFDLPSXHVWDDOSURFHVDGR\TXHHVWHGHSRVLWyHQHO-X]
JDGRSDUDREWHQHUVXOLEHUWDGGHEHVHUOHGHYXHOWDFXDQGR
D(OSURFHVDGRKDGHFODUDGR
E6HVXVSHQGHHOSURFHVR
F&RPSDUHFHHOLPSXWDGRDOMXLFLR
,QGLTXHGHHQWUHORVVLJXLHQWHVTXpWLSRVGHGHOLWRVQRSXHGHQHQMXLFLDUVH
SRUHO7ULEXQDOGHO-XUDGR
D/RVUHODWLYRVDOFRQWUROGHFDPELRV
E/DVQHJRFLDFLRQHVSURKLELGDVDORVIXQFLRQDULRV
F(OWUiILFRGHLQIOXHQFLDV
/DDXWRUL]DFLyQHQUHVROXFLyQPRWLYDGDSDUDODHQWUDGDHQORVGRPLFLOLRV\
HQORVUHVWDQWHVHGLILFLRVROXJDUHVGHDFFHVRGHSHQGLHQWHGHOFRQVHQWLPLHQWRGH
VXWLWXODUFXDQGRHOORSURFHGDSDUDODHMHFXFLyQIRU]RVDGHORVDFWRVGHOD$GPLQLV
WUDFLyQODKDEUiGHH[SHGLUHOFRUUHVSRQGLHQWH
D-X]JDGRGHOR3HQDO
E-X]JDGRGH,QVWUXFFLyQ
F-X]JDGRGH9LJLODQFLD3HQLWHQFLDULD
(QWHQGHUiGHOHQMXLFLDPLHQWRGHGHOLWRVSRUIDOVLILFDFLyQGHPRQHGD
E(O-X]JDGRGH,QVWUXFFLyQ
F(O-X]JDGR&HQWUDOGH,QVWUXFFLyQ
&XiOHVVRQORVyUJDQRVFROHJLDGRVGHOD-XULVGLFFLyQSHQDOHVSDxROD"
D/DV$XGLHQFLDV3URYLQFLDOHVOD$XGLHQFLD1DFLRQDOORV7ULEXQDOHV6XSHULRUHVGH-XV
WLFLDGHODV&RPXQLGDGHV$XWyQRPDV\HO7ULEXQDO6XSUHPRGH-XVWLFLD
E/DV$XGLHQFLDV3URYLQFLDOHVOD$XGLHQFLD1DFLRQDOHO7ULEXQDO6XSUHPRGH-XVWLFLD
\HO7ULEXQDO&RQVWLWXFLRQDO
F/DV$XGLHQFLDV3URYLQFLDOHVORV-X]JDGRVGH,QVWUXFFLyQ\OD$XGLHQFLD1DFLRQDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
1RVHFRQVLGHUDFDXVDGHLQFRPSDWLELOLGDGSDUDIRUPDUSDUWHGHO7ULEXQDO
GHO-XUDGR
D6HUPLHPEURHQDFWLYRGHO&XHUSR1DFLRQDOGH3ROLFtD
E6HUPLHPEURHQDFWLYRGHO&XHUSRGHOD*XDUGLD&LYLO
F7HQHUPiVGHVHVHQWD\FLQFRDxRVGHHGDG
&XiOHVHOiPELWRMXULVGLFFLRQDOGHO-X]JDGRGH,QVWUXFFLyQ"
D/D3URYLQFLDUHVSHFWLYD
E(O3DUWLGR-XGLFLDO
F/D&RPDUFDUHVSHFWLYD
3DUDTXpVHXWLOL]DHOSURFHVRSHQDO"
D3DUDDSOLFDUODOH\
E3DUDSUHYHQLUGHOLWRV
F3DUDDSOLFDUVyORHO&yGLJRSHQDO
4XLpQSXHGHVROLFLWDUHO+iEHDV&RUSXV"
D(OGHWHQLGRRVXFyQ\XJH
E(O'HIHQVRUGHO3XHEOR
(O,QVWUXFWRUGHXQDVGLOLJHQFLDVTXpWLHPSRWLHQHSDUDVROLFLWDUDO-XH]OD
SUyUURJDGHODGHWHQFLyQ"
D/DVSULPHUDVYHLQWLFXDWURKRUDV
E/DVSULPHUDVFXDUHQWD\RFKRKRUDV
F&XDQGRORHVWLPHRSRUWXQR
&XiQGRVHGHEHLQIRUPDUDXQDSHUVRQDGHWHQLGDGHVXVGHUHFKRV"
D$VXOOHJDGDDOD'HSHQGHQFLDSROLFLDO
E(QHOPRPHQWRHQTXHHOODORSLGD
F'HIRUPDLQPHGLDWDDVXGHWHQFLyQ
3RUVXJUDQLPSRUWDQFLDSROLFLDOTXpDUWtFXORGHOD/H\GH(QMXLFLDPLHQWR
&ULPLQDOFRQWHPSODORVGHUHFKRVGHOGHWHQLGR"
D(O
E(O
F(O
(QXQLQWHUURJDWRULRSROLFLDOHOGHWHQLGRSXHGH
D*XDUGDUVLOHQFLR\QRFRQWHVWDUVLQRTXLHUH
E&RQWHVWDUDXQDVSUHJXQWDVVt\DRWUDVQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DDVLVWHQFLD/HWUDGDDOGHWHQLGRHVSUHFHSWLYDHLUUHQXQFLDEOH
D(QWRGRWLSRGHGHOLWRV
E ([FHSWR FXDQGR VX GHWHQFLyQ OR IXHUH SRU KHFKRV VXVFHSWLEOHV GH VHU WLSLILFDGRV
H[FOXVLYDPHQWHFRPRGHOLWRVFRQWUDODVHJXULGDGGHOWUiILFR
F6yORFXDQGRVHWUDWHGHGHOLWRVWHUURULVWDV
/DLQVWUXFFLyQ\HQMXLFLDPLHQWRGHODVFDXVDVFRQWUD0DJLVWUDGRVGHOD$X
GLHQFLD1DFLRQDOFRPSHWH
D$O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPDTXHOHFRUUHVSRQGDHQ
WHQGHUGHODFDXVD
E$OD6DOD6HJXQGDGHO7ULEXQDO6XSUHPRGH-XVWLFLD
F$O7ULEXQDO&RQVWLWXFLRQDO
(OSURFHGLPLHQWRGH+iEHDV&RUSXV
D(VWDEOHFHXQUHPHGLRUiSLGR\HILFD]SDUDFRPEDWLUFXDOTXLHUGHWHQFLyQLOHJDO
E (V XQ SURFHGLPLHQWR MXGLFLDO VXPDULR \ H[WUDRUGLQDULDPHQWH UiSLGR TXH WLHQH TXH
VXVWDQFLDUVHHQYHLQWLFXDWURKRUDV
0HGLDQWHODSHWLFLyQGHO+iEHDV&RUSXVHOVXSXHVWRGHWHQLGRLOHJDOPHQWH
VHSRQGUiDGLVSRVLFLyQGH
D(O-X]JDGRGH,QVWUXFFLyQGH*XDUGLDGHOOXJDUGRQGHVHHQFXHQWUHHOGHWHQLGR
E/D$XGLHQFLD3URYLQFLDOHQFX\DGHPDUFDFLyQVHHQFXHQWUHHOGHWHQLGR
F(O-X]JDGRGHOR3HQDOFRUUHVSRQGLHQWHDOOXJDUGRQGHVHHQFXHQWUHHOGHWHQLGR
(QWUHORVGHUHFKRVGHOGHWHQLGRUHFRQRFLGRVOHJDOPHQWHQRILJXUDHOGH
D6HUDVLVWLGRSRU/HWUDGRGHVLJQDGRSRUHOGHWHQLGRRELHQGHRILFLR
F*XDUGDUVLOHQFLRQRGHFODUDQGRVLQRTXLHUH
&RPRFRQVHFXHQFLDGHODVROLFLWXGGHO+iEHDV&RUSXVSRUXQGHWHQLGROD
3ROLFtDHVWDUiGHLQPHGLDWRREOLJDGDD
D3RQHUORHQOLEHUWDG
E'DUFRQRFLPLHQWRDOD$XWRULGDG-XGLFLDOFRPSHWHQWHTXLHQGHFLGLUiORSURFHGHQWH
F7UDVODGDUORGHLQPHGLDWRDQWHHO-XH]GH*XDUGLD
(O/HWUDGRTXHDVLVWHDXQGHWHQLGRQRLQFRPXQLFDGRHQXQD'HSHQGHQFLD
SROLFLDOSXHGHKDEODUFRQHVWH
D$QWHVGHOLQWHUURJDWRULR
E$FRQVHMDUOHGXUDQWHHOLQWHUURJDWRULRORTXHWLHQHTXHFRQWHVWDU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$XQDSHUVRQDGHWHQLGDFXDQGRVHOHDSOLFDODLQFRPXQLFDFLyQ
D6HOHDXPHQWDHOSOD]RGHGHWHQFLyQHQFXDUHQWD\RFKRKRUDVPiV
E6HOHVXSULPHHOGHUHFKRDODDVLVWHQFLD/HWUDGD
F6HOHQRPEUD$ERJDGRGHRILFLR
(OSURFHGLPLHQWRGH+iEHDV&RUSXVVHFRQWHPSODFRPRXQD,QVWLWXFLyQSDUD
JDUDQWL]DU
D/DOLEHUWDGSHUVRQDODQWHXQDGHWHQFLyQDUELWUDULD
E(OGHUHFKRDOKRQRU\DODOLEHUWDGSHUVRQDO\IDPLOLDU
F(OGHUHFKRDH[SUHVDUOLEUHPHQWHODVLGHDV
&XiQWRWLHPSRGHEHGXUDUHQ(VSDxDODGHWHQFLyQSUHYHQWLYD"
D&XDUHQWD\RFKRKRUDV
E6HWHQWD\GRVKRUDV
F(OWLHPSRHVWULFWDPHQWHQHFHVDULRSDUDODUHDOL]DFLyQGHODVDYHULJXDFLRQHVWHQGHQ
WHVDOHVFODUHFLPLHQWRGHORVKHFKRV\FRPRPi[LPRVHWHQWD\GRVKRUDV
4Xp7ULEXQDOHVFRPSHWHQWHSDUDMX]JDUXQKHFKRGHOLFWLYRFRPHWLGRSRU
XQPLHPEURGHO*RELHUQR"
D/D6DOD6HJXQGDR6DODGHOR3HQDOGHO7ULEXQDO6XSUHPRGH-XVWLFLD
F(O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPDGRQGHVHKD\DFRPHWLGR
HOGHOLWR
(QTXpyUJDQRGHOD-XULVGLFFLyQ3HQDOVHLQFDUGLQDQORV-X]JDGRV&HQWUD
OHVGH,QVWUXFFLyQ"
E(QHO7ULEXQDO6XSUHPR
F(QORV7ULEXQDOHV6XSHULRUHVGH-XVWLFLDGHODV&RPXQLGDGHV$XWyQRPDV
4XLpQFRQRFH\IDOODORVGHOLWRVFDVWLJDGRVFRQSHQDVQRVXSHULRUHVDFLQ
FRDxRV"
F/RV-X]JDGRVGHOR3HQDO
4XHGDQH[FOXLGRVGHODFRPSHWHQFLDGHO7ULEXQDOGHO-XUDGRORVGHOLWRV
D&RPHWLGRVSRUORVIXQFLRQDULRVS~EOLFRVHQHOHMHUFLFLRGHVXVFDUJRV
E&RQWUDHOPHGLRDPELHQWH
F$TXHOORVFX\RFRQRFLPLHQWRYHQJDDWULEXLGRDOD$XGLHQFLD1DFLRQDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XDQGRORV-X]JDGRVGHOR3HQDOHQWLHQGDQTXHODSHQDOLGDGGHFLHUWRVGH
OLWRVH[FHGHGHVXFRPSHWHQFLDGHEHQWUDVODGDUVXVDFWXDFLRQHV
D$O-X]JDGRGH3ULPHUD,QVWDQFLD
E$O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPDUHVSHFWLYD
6HJ~QOD/H\2UJiQLFDGHO3RGHU-XGLFLDOHO(VWDGRVHRUJDQL]DWHUULWRULDO
PHQWHDHIHFWRVMXGLFLDOHVHQ
D0XQLFLSLRV3DUWLGRV-XGLFLDOHV3URYLQFLDV\&RPXQLGDGHV$XWyQRPDV
E-X]JDGRV3DUWLGRV-XGLFLDOHV\3URYLQFLDV
F-X]JDGRV7ULEXQDOHV8QLSHUVRQDOHV\7ULEXQDOHV&ROHJLDGRV
$QWHTXLpQVHSXHGHOOHYDUDFDERODIRUPXODFLyQGHXQDGHQXQFLD"
D$QWHODV)XHU]DV\&XHUSRVGH6HJXULGDGFRPSHWHQWHV
E$QWHHO-X]JDGRFRUUHVSRQGLHQWH
F$QWHFXDOTXLHUDGHORVDQWHULRUHV
6HJ~QHODUWGHOD/H\GH(QMXLFLDPLHQWR&ULPLQDO/RVDWHVWDGRVTXH
UHGDFWDUHQ\ODVPDQLIHVWDFLRQHVTXHKLFLHUHQORVIXQFLRQDULRVGHOD3ROLFtD-XGL
FLDODFRQVHFXHQFLDGHODVDYHULJXDFLRQHVTXHKXELHVHQSUDFWLFDGRVHFRQVLGHUD
UiQDORVHIHFWRVOHJDOHVFRPR
D4XHUHOODV
E'HQXQFLDV
F3HWLFLRQHVGHSURFHVDPLHQWR
/DRPLVLyQGHODGHQXQFLDFXDQGRVHWUDWHGHGHOLWRVFRQWUDODYLGDODLQ
WHJULGDGRODVDOXGODOLEHUWDGROLEHUWDGVH[XDOGHODVSHUVRQDVHVFRQVWLWXWLYRGH
D)DOWD
E'HOLWR
F1RHVQDGDGHORDQWHULRU
(QFDVRVGHWHUURULVPRHVSURUURJDEOHHOSOD]RPi[LPRGHGHWHQFLyQSROL
FLDOSUHYLDDODSXHVWDGHOGHWHQLGRDGLVSRVLFLyQMXGLFLDO"
D1RORHVQXQFDSXHVHOSOD]ROHJDOPi[LPRHVWiILMDGRHQVHWHQWD\GRVKRUDV
E6tSHURVLHPSUHTXHVHVROLFLWHDO-XH]FRPSHWHQWHDQWHVGHFXPSOLUVHODVSULPHUDV
FXDUHQWD\RFKRKRUDVGHODGHWHQFLyQ
F6yORSRGUiVHUHQFDVRGHDWHQWDGRFRQUHVXOWDGRGHDOJXQDYtFWLPDPRUWDO
/DDVLVWHQFLD/HWUDGDDXQGHWHQLGRHVWiJDUDQWL]DGDFRQVWLWXFLRQDOPHQWHHQ
D(OH[FOXVLYRFDVRGHTXHVHDLQVROYHQWH
E/DVGLOLJHQFLDVSROLFLDOHV\MXGLFLDOHVHQORVWpUPLQRVTXHODOH\HVWDEOH]FD
F(OVXSXHVWRVyORGHTXHVHDGHWHQLGRSRUXQGHOLWRQRIODJUDQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpVLWXDFLyQVHSXHGHVXVSHQGHUHOGHUHFKRGHDVLVWHQFLD/HWUDGDD
XQGHWHQLGR"
D'XUDQWHHOHVWDGRGHH[FHSFLyQ
E'XUDQWHHOHVWDGRGHVLWLR
F'XUDQWHHOHVWDGRGHDODUPD
/DMXULVGLFFLyQSHQDOHVSDxRODQRUHFRQRFHFRPRyUJDQRLQWHJUDQWHGHOD
PLVPD
D$O7ULEXQDO6XSUHPRGH-XVWLFLD
F$ORV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
'HHQWUHODVVLJXLHQWHVTXpFRPSHWHQFLDVFRUUHVSRQGHQDO&RQVHMR*HQH
UDOGHO3RGHU-XGLFLDO"
D3URSXHVWDSDUDHOQRPEUDPLHQWRGH3UHVLGHQWHGHO7ULEXQDO6XSUHPR
E6HURtGRFRQFDUiFWHUSUHYLRDOQRPEUDPLHQWRGH)LVFDO*HQHUDOGHO(VWDGR
F7RGDVODVDQWHULRUHVORVRQ
/DFRPSHWHQFLDSHQDOGHORV7ULEXQDOHVGH-XVWLFLDSXHGHVHU
D2EMHWLYD
E7HUULWRULDO\IXQFLRQDO
F/DVDQWHULRUHVUHVSXHVWDVVRQFLHUWDV
(ODUWtFXORGHOD&RQVWLWXFLyQTXHUHYLVWHHVSHFLDOLPSRUWDQFLDSDUDODDF
WXDFLyQHQVXFDVRGHODV)XHU]DV\&XHUSRVGH6HJXULGDGSRUFRQVDJUDUVHHQHO
PLVPRHOGHUHFKRDODOLEHUWDG\DODVHJXULGDGSHUVRQDOHVHO
D&DWRUFH
E'LHFLVLHWH
F'LHFLRFKR
$TXLpQQRSXHGHGHWHQHUXQSDUWLFXODU"
D$OSURFHVDGRRFRQGHQDGRTXHHVWXYLHUHHQUHEHOGtD
E$OGHOLQFXHQWHLQIUDJDQWL
F$OSUHVXQWRVRVSHFKRVRGHXQGHOLWR
$TXLpQSXHGHGHWHQHUXQSDUWLFXODU"
D$OTXHLQWHQWDUHFRPHWHUXQGHOLWRHQHOPRPHQWRGHLUDFRPHWHUOR
E$OTXHVHIXJDUHGHOHVWDEOHFLPLHQWRSHQDOHQTXHVHKDOOHH[WLQJXLHQGRFRQGHQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D FRPSHWHQFLD GH OD -XULVGLFFLyQ (VSDxROD SDUD MX]JDU GHOLWRV GH IDOVLIL
FDFLyQGHPRQHGDH[WUDQMHUDFRPHWLGRVIXHUDGHOWHUULWRULRQDFLRQDOVHEDVDHQ
D(OSULQFLSLRGHQDFLRQDOLGDG
F(OSULQFLSLRUHDO
(O3UHVLGHQWHGHO7ULEXQDO6XSUHPRGH-XVWLFLDORQRPEUDHO5H\DSURSXHVWD
D'HO*RELHUQR
E'HOSURSLR7ULEXQDO6XSUHPRGH-XVWLFLDHQ3OHQR
6DOYRHOHQMXLFLDPLHQWRGHORVGHOLWRVDWULEXLGRVDODFRPSHWHQFLDGHO7ULEX
QDOGHO-XUDGRODFRPSHWHQFLDSDUDHQMXLFLDUODVFDXVDVSRUGHOLWRVPHQRVJUDYHV
RVHDORVTXHWHQJDQVHxDODGDSRUODOH\SHQDSULYDWLYDGHOLEHUWDGQRVXSHULRUD
FLQFRDxRVHVFRPSHWHQFLDGH
E/RV-X]JDGRVGHOR3HQDO
F/RV-X]JDGRVGH,QVWUXFFLyQ
&RPRHVVDELGR\HQHOPRPHQWRSURFHGHQWHHO3RUWDYR]GHO-XUDGRVRPH
WHUiDYRWDFLyQFDGDXQRGHORVSiUUDIRVHQTXHVHGHVFULEHQORVKHFKRV\WRGRV
ORV -XUDGRV YRWDUiQ VL HVWLPDQ SUREDGRV ORV KHFKRV 3DUD VHU GHFODUDGRV WDOHV
FXiQWRVYRWRVDOPHQRVVHUHTXLHUHQFRQWUDULRV\FXiQWRVDOPHQRVIDYRUDEOHVDO
DFXVDGRUHVSHFWLYDPHQWH"
D&LQFR\VLHWH
E6LHWH\FLQFR
F6HLV\FXDWUR
(O9RFDOGHO-XUDGRTXHHQFRQFLHQFLDQRHVWpGHDFXHUGRFRQHOYHUH
GLFWRGHFXOSDELOLGDGHPLWLGRSRUORVRWURVFRPSRQHQWHVGHO-XUDGRSHURWDP
SRFRWHQJDODFHUWH]DPRUDOGHODLQRFHQFLDGHODFXVDGRSXHGHDEVWHQHUVHGH
YRWDU"
D6LHOORHVDVtSXHGHKDFHUXVRGHODDEVWHQFLyQ
E1LQJ~Q-XUDGRSXHGHDEVWHQHUVHYRWDUSRUVHUHVWDIXQFLyQREOLJDWRULD
F3XHGHDEVWHQHUVHSLGLHQGRTXHORUHOHYHQGHVXIXQFLyQGH-XUDGR
/D$XGLHQFLD1DFLRQDOHVWiLQWHJUDGDSRUODVVLJXLHQWHV6DODV
D7UHVGHOR3HQDOGHOR&LYLO\GHOR6RFLDO
E'RVGHOR3HQDO\GHOR&RQWHQFLRVR$GPLQLVWUDWLYR
F&XDWURGHOR3HQDOGHOR&RQWHQFLRVR$GPLQLVWUDWLYRGHOR6RFLDO\GH$SHODFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'yQGHVHLQFDUGLQDHO&RQVHMR&HQWUDOGHOR3HQDO"
E(QODV$XGLHQFLDV3URYLQFLDOHV
F(VWHyUJDQRQRH[LVWH
(OREMHWLYRIXQGDPHQWDOGHODVROLFLWXGGHOSURFHGLPLHQWRGH+iEHDV&RUSXVHV
D3RQHULQPHGLDWDPHQWHDGLVSRVLFLyQMXGLFLDODODSHUVRQDVROLFLWDQWHSRUHQWHQGHU
HOODPLVPDRODVSHUVRQDVDXWRUL]DGDVSRUODOH\SDUDHOORGHTXHVHHQFXHQWUDGHWHQLGD
GHIRUPDLOHJDO
E$ODVYHLQWLFXDWURKRUDVFRPRPi[LPRHOGHWHQLGRVHUiSXHVWRHQOLEHUWDGRDGLV
SRVLFLyQMXGLFLDO
F3RQHUDOGHWHQLGRHQOLEHUWDGLQPHGLDWDPHQWH
/DLQVWUXFFLyQGHFDXVDVFX\RHQMXLFLDPLHQWRFRUUHVSRQGHDOD$XGLHQFLD
1DFLRQDOHVFRPSHWHQFLDGH
D/RV-X]JDGRVGH,QVWUXFFLyQGH*XDUGLD
E/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
8QFLXGDGDQRHVSDxROQDWXUDOGHXQSXHEORGHODSURYLQFLDGH9L]FD\DTXH
QRFRPSUHQGDRQRKDEOHHOFDVWHOODQRWHQGUiGHUHFKRDODDVLVWHQFLDJUDWXLWDGH
XQLQWpUSUHWHGHYDVFXHQFH"
D6t
E1RSRUTXHWLHQHHOGHUHFKR\HOGHEHUGHKDEODUHOFDVWHOODQR
F'HSHQGHUiGHTXHDVtORDXWRULFHHO-XH]FRPSHWHQWH
'H HQWUH ODV VLJXLHQWHV TXp SHUVRQD QR HVWi OHJLWLPDGD SDUD LQVWDU HO
+iEHDV&RUSXV"
D(OSULYDGRGHOLEHUWDG
E(O$ERJDGRHQFDUJDGRGHVXDVLVWHQFLD
F(O0LQLVWHULR)LVFDO
(QWUH ORV GHOLWRV VHxDODGRV D FRQWLQXDFLyQ HO 7ULEXQDO GHO -XUDGR WHQGUi
FRPSHWHQFLDVREUH
D,QFHQGLRVIRUHVWDOHV\WUiILFRGHLQIOXHQFLDV
E)UDXGHV\H[DFFLRQHVLOHJDOHV
F7RGRVORVGHOLWRVFLWDGRVDQWHULRUPHQWH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QUHODFLyQFRQHOSURFHGLPLHQWRGH+iEHDV&RUSXVVHFRQVLGHUDQSHUVR
QDVGHWHQLGDVLOHJDOPHQWH
D/DVTXHHVWpQLOtFLWDPHQWHLQWHUQDGDVHQFXDOTXLHUHVWDEOHFLPLHQWRROXJDU
E/DVTXHORHVWXYLHUHQSRUSOD]RVXSHULRUDOHVWDEOHFLGRSRUODVOH\HV
(QXQMXLFLRFRQ-XUDGRODSDUWHDFXVDGRUDSRGUiUHFXVDUGHHQWUHORVFDQ
GLGDWRVVLQDOHJDFLyQGHPRWLYRGHWHUPLQDGRKDVWDXQQ~PHURGH
D7UHVFDQGLGDWRV
E&XDWURFDQGLGDWRV
F&LQFRFDQGLGDWRV
(QUHODFLyQFRQODSUHJXQWDDQWHULRUFXiQWRVFDQGLGDWRVSRGUiQVHUUHFX
VDGRVSRUODVGHIHQVDV"
D'RVFDQGLGDWRV
E7UHVFDQGLGDWRV
F&XDWURFDQGLGDWRV
(QORVFDVRVGHDFWXDFLyQGHEDQGDVDUPDGDVRHOHPHQWRVWHUURULVWDVOD
GXUDFLyQDXWRUL]DGDGHODGHWHQFLyQGHXQDSHUVRQDSRGUiGXUDUKDVWD
D&XDWURGtDV
E&LQFRGtDV
F6HLVGtDV
9HODU SRU HO UHVSHWR GH ODV LQVWLWXFLRQHV FRQVWLWXFLRQDOHV \ ORV GHUHFKRV
IXQGDPHQWDOHV\OLEHUWDGHVS~EOLFDVHVXQDIXQFLyQFRQWHPSODGDHVSHFtILFDPHQWH
HQHO(VWDWXWR
E'HODV)XHU]DV\&XHUSRVGH6HJXULGDG
F'HO0LQLVWHULR)LVFDO
4XLpQWUDPLWDORVH[SHGLHQWHVGHHMHFXFLyQGHODVyUGHQHVHXURSHDVGH
GHWHQFLyQ\HQWUHJD"
F(O-X]JDGR&HQWUDOGHOR3HQDO
(QORV-X]JDGRVHOHQFDUJDGRGHVXSHUYLVDUHOUHSDUWRGHORVDVXQWRVTXH
OOHJDQSDUDVXWUDPLWDFLyQHV
D(O6HFUHWDULRGHODUHVSHFWLYD$XGLHQFLD3URYLQFLDO
E(O-XH]GH,QVWUXFFLyQGH*XDUGLD
F(O-XH]'HFDQR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O-X]JDGR&HQWUDOGH9LROHQFLDVREUHOD0XMHUVHLQFDUGLQD
E(QOD$XGLHQFLD3URYLQFLDOUHVSHFWLYD
F(QQLQJXQRGHORVDQWHULRUHVSRUVHUXQ-X]JDGRLQGHSHQGLHQWHGHQXHYDFUHDFLyQ
(O3UHVLGHQWHGHOD$XGLHQFLD1DFLRQDOWHQGUiODFRQVLGHUDFLyQGH
D3UHVLGHQWHGH6DODGHO7ULEXQDO6XSUHPRGH-XVWLFLD
E0DJLVWUDGR-XH]
F3UHVLGHQWHGHO7ULEXQDO6XSHULRUGH-XVWLFLDGHXQD&RPXQLGDG$XWyQRPD
/RVGHOLWRVUHODWLYRVDOFRQWUROGHFDPELRVHVFRPSHWHQFLDGH
D(O-X]JDGR(VSHFLDOGH'HOLWRV0RQHWDULRV
F(O7ULEXQDO6XSHULRUGH-XVWLFLDGHODUHVSHFWLYD&RPXQLGDG$XWyQRPD
/DIRUPDGHLQLFLDUVHXQSURFHVRSXHGHVHUVHJ~QORVFDVRV
D3RUGHQXQFLDRSRUTXHUHOOD
E'HRILFLR
F'HFXDOTXLHUDGHODVGRVIRUPDVDQWHULRUHV
6yORHQFDVRGHDSOLFDUOHODLQFRPXQLFDFLyQDXQGHWHQLGRVHOHSRGUi
VXSULPLUHOGHUHFKR
D$QRGHFODUDUFRQWUDVtPLVPR
E$QRFRQIHVDUVHFXOSDEOHGHORVKHFKRVTXHVHOHLPSXWHQ
F$ODHQWUHYLVWDUHVHUYDGDFRQHO$ERJDGRTXHOHKD\DDVLVWLGRWUDVKDEHUSUHVWDGR
GHFODUDFLyQ
(QHO'HUHFKRSHQDOGHH[FHSFLyQWRGRVORVGHOLWRVVHMX]JDQSRU
D/DOH\WHPSRUDOYLJHQWHHQHVHPRPHQWR
E/DOH\FRP~Q
F/DOH\FRP~QRODH[FHSFLRQDOTXHPiVIDYRUH]FDDOUHR
(QODVROLFLWXGGHOSURFHGLPLHQWRGH+iEHDV&RUSXVHVSUHFHSWLYDODDVLV
WHQFLDGH
D$ERJDGR
E3URFXUDGRU
F1LQJXQRGHHOORV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RV -X]JDGRV GH 3ULPHUD ,QVWDQFLD WLHQHQ FRPSHWHQFLD PDWHULDO VREUH
DVXQWRVGH
D2UGHQFLYLO
E2UGHQSHQDO
F2UGHQDGPLQLVWUDWLYR
/RV-X]JDGRVGH0HQRUHV
D([LVWHQHQFDGDSURYLQFLD
E7LHQHQVXVHGHHQ0DGULG
F7LHQHQMXULVGLFFLyQHQWRGDOD&RPXQLGDG$XWyQRPD
4XLpQFRQRFHGHORVUHFXUVRVH[WUDRUGLQDULRVGHFDVDFLyQ\UHYLVLyQ"
(OFRQWUROGHODOHJDOLGDGGHORVDFXHUGRVWRPDGRVHQORV$\XQWDPLHQWRV\
HQODV'LSXWDFLRQHV3URYLQFLDOHVVHOOHYDDFDERSRU
D(O*RELHUQR
E/D$GPLQLVWUDFLyQ
F/RV7ULEXQDOHVGH-XVWLFLD
6HFRQVLGHUDPHGLGDFDXWHODU\QRSHQD
D(ODUUHVWRGHILQGHVHPDQD
E/DSULVLyQSUHYHQWLYDGHXQSURFHVDGR
F/RVWUDEDMRVHQEHQHILFLRGHOD&RPXQLGDG
6RQyUJDQRVGHOD-XULVGLFFLyQSHQDO
D/RV-X]JDGRVGHOR6RFLDOORVGH,QVWUXFFLyQ\ORVGH3D]
E/RV-X]JDGRVGH3ULPHUD,QVWDQFLDORVGH9LJLODQFLD3HQLWHQFLDULD\ORVGHOR3HQDO
F/RV-X]JDGRVGH3D]ORVGH,QVWUXFFLyQ\ORVGHOR3HQDO
4XLpQMX]JDORVFDVRVFDVWLJDGRVFRQSHQDVQRVXSHULRUHVDFLQFRDxRV
GHSULYDFLyQGHOLEHUWDG"
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHORVVLJXLHQWHVGHOLWRVFXiOGHHOORVQRHVFRPSHWHQFLDGHO7ULEXQDO
GHO-XUDGR"
D&RKHFKR
E5HFHSWDFLyQ
F,QFHQGLRVIRUHVWDOHV
7LHQHFRPSHWHQFLDSDUDHOHQMXLFLDPLHQWR\UHVROXFLyQGHXQDSHWLFLyQGH
+iEHDV&RUSXV
D(O-XH]GH,QVWUXFFLyQGHOOXJDUHQTXHVHHQFXHQWUHODSHUVRQDSULYDGDGHOLEHUWDG
E(O-XH]GHOR3HQDO
F/D$XGLHQFLD3URYLQFLDOGHOOXJDUGRQGHVHWHQJDQODV~OWLPDVQRWLFLDVGHODSHUVRQD
SULYDGDGHOLEHUWDG
&XiQWRWLHPSRFRPRPi[LPRSXHGHGXUDUODGHWHQFLyQSUHYHQWLYD"
D'RVGtDV
E7UHVGtDV
F&LQFRGtDV
(O'HUHFKRSURFHVDOSHQDOHV
D8QFRQMXQWRGHQRUPDVSHQDOHV
E8QFRQMXQWRGHQRUPDVTXHUHJXODQHOSURFHVRSHQDO
F1RUPDVTXHJDUDQWL]DQHODFFHVRGHORVFLXGDGDQRVDOD-XVWLFLD
(OSURFHVRSHQDOHV
D8QDVXFHVLyQGHDFWRVVXMHWRVDQRUPDVIRUPDOHVTXHSHUPLWHQDOyUJDQRMXULVGLF
FLRQDOGLFWDUXQDVHQWHQFLD
E(OSURFHGLPLHQWRSHQDO
F/DIRUPDGHSURGXFLUVHODVQRUPDVSHQDOHVFRQIRUPHDXQDVUHJODVIRUPDOHV
/DDFFLyQSHQDOQDFH
D'HWRGRGHOLWRQDFHODDFFLyQSHQDO
E'HWRGRGHOLWRTXHWHQJDPRVFRQRFLPLHQWR
F'HWRGRGHOLWRSXHGHQDFHUODDFFLyQSHQDORQR
/DLQVWUXFFLyQGHORVGHOLWRVUHODFLRQDGRVFRQODDFWXDFLyQGHEDQGDVDU
PDGDVXRUJDQL]DFLRQHVWHUURULVWDVRUHEHOGHVHVFRPSHWHQFLD
D'HORV-X]JDGRV&HQWUDOHVGHOR3HQDO
E'HOD$XGLHQFLD1DFLRQDO
F'HORV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HUiFRPSHWHQWHSDUDUHVROYHUVREUHODVSURSXHVWDVGHOLEHUWDGFRQGLFLR
QDOGHORVSHQDGRVHOFRUUHVSRQGLHQWH
D-XH]R7ULEXQDOVHQWHQFLDGRU
E-XH]GH9LJLODQFLD3HQLWHQFLDULD
F-XH]GHOR3HQDO
8Q FLXGDGDQR HVSDxRO GH RULJHQ HV YtFWLPD GH XQ GHOLWR GH URER HQ VX
GRPLFLOLRTXLpQSXHGHHMHUFLWDUODDFFLyQSHQDO"
D6yORGLFKRFLXGDGDQRSRUVHUHORIHQGLGRSRUHOGHOLWR
E&XDOTXLHUFLXGDGDQRHVSDxROSRUPHGLRGHGHQXQFLD
F(O0LQLVWHULR)LVFDO
4XpyUJDQRMXGLFLDOHVHOFRPSHWHQWHSDUDFRQRFHUGHOSURFHGLPLHQWRGH
+DEHDV&RUSXV"
D(O-X]JDGRGH,QVWUXFFLyQFRUUHVSRQGLHQWH
E(O-X]JDGRGHOR3HQDOGHODORFDOLGDGGRQGHVHVROLFLWH
F(O-X]JDGRGH3ULPHUD,QVWDQFLDGHHVDGHPDUFDFLyQ
3XHGHXQ3ROLFtDGHWHQHUDXQDSHUVRQDSRUODFRPLVLyQGHXQDIDOWDOHYH"
D6tVLHPSUH
E1RQXQFD
F6yORVLQRGLHUDILDQ]DEDVWDQWHRQRWXYLHVHGRPLFLOLRFRQRFLGR
'HHQWUHODVVLJXLHQWHVUHVSXHVWDVVHxDOHODFRUUHFWDTXLpQSXHGHVROL
FLWDUHO+iEHDV&RUSXVSDUDXQDSHUVRQDGHWHQLGD"
D(O'HIHQVRUGHO3XHEOR\HO3URFXUDGRUGHOGHWHQLGR
E&XDOTXLHUSHUVRQD\HQVXFDVRHO/HWUDGRGHIHQVRUGHOGHWHQLGR
F(OFyQ\XJHSDUHMDGHKHFKRDVFHQGLHQWHVRGHVFHQGLHQWHVGHOGHWHQLGR
&RUUHVSRQGHDO0LQLVWHULR)LVFDO
D3URPRYHUODDFFLyQGHOD-XVWLFLDHQGHIHQVDGHODOHJDOLGDGGHORVGHUHFKRVGHORV
FLXGDGDQRV\GHOLQWHUpVS~EOLFR
E/RV)LVFDOHVVRQLQGHSHQGLHQWHVMHUiUTXLFDPHQWH
F1DGDGHORDQWHULRUHVFLHUWR
7LHQHQODVPLVPDVIXQFLRQHVTXHORV-X]JDGRVGHOR3HQDOSHURHQHOiP
ELWRGHFRPSHWHQFLDVUHVHUYDGDVDOD$XGLHQFLD1DFLRQDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&RQRFHQGHORVSURFHGLPLHQWRVGH+DEHDV&RUSXV
6HDWULEX\HHOFRQRFLPLHQWRGHODVFDXVDVSRUGHOLWRVFDVWLJDGRVFRQSH
QDVGHKDVWDFLQFRDxRVGHSULVLyQDORV-X]JDGRV
D'HOR3HQDO
E'H0HQRUHV
F'H,QVWUXFFLyQ
1RHVXQyUJDQRFROHJLDGRRSOXULSHUVRQDO
D(O7ULEXQDO6XSUHPR
F(O-X]JDGRGHOR3HQDO
/RV-X]JDGRVGHOR3HQDOWLHQHQFRPSHWHQFLDWHUULWRULDO
D/RFDO
E1DFLRQDO
F3URYLQFLDO
4XpHVHO+DEHDV&RUSXV"
D8QSURFHGLPLHQWRSDUDSRQHUDGLVSRVLFLyQMXGLFLDOLQPHGLDWDDXQGHWHQLGRLOHJDOPHQWH
E8QSURFHGLPLHQWRSDUDSRQHUHQOLEHUWDGDXQGHWHQLGR
6HFRQVLGHUDPHGLGDFDXWHODU\QRSHQD
D(ODUUHVWRGHILQGHVHPDQD
F/RVWUDEDMRVHQEHQHILFLRGHOD&RPXQLGDG
/D/H\2UJiQLFDGHGHGLFLHPEUHFUHy
E/RV7ULEXQDOHVGH0HQRUHV
F/DV$XGLHQFLDV3URYLQFLDOHV
4XpyUJDQRLQVWUXLUiODVFDXVDVSRUGHOLWRVFRPHWLGRVSRUEDQGDVDUPD
GDVRWHUURULVWDV"
F/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiQWDVSHUVRQDVFRPSRQHQHO7ULEXQDOGHO-XUDGR"
D1XHYH-XUDGRVGRVVXSOHQWHV\HO0DJLVWUDGR3UHVLGHQWH
E1XHYH-XUDGRV
F1XHYH-XUDGRVPiVGRVVXSOHQWHV
(OHMHUFLFLRGHOGHUHFKRDFDVWLJDUKDGHHMHUFHUVHDWUDYpVGH
D/DGHWHQFLyQ
E/DDFXVDFLyQ
F8QSURFHVRSHQDO
&RPRUHJODJHQHUDOODGXUDFLyQGHODSULVLyQQRGHEHVHULQIHULRUQLVXSH
ULRUUHVSHFWLYDPHQWHD
D6HLV\YHLQWHDxRV
E7UHVPHVHV\YHLQWHDxRV
F8QR\WUHLQWDDxRV
3RUVXSDUWHODORFDOL]DFLyQSHUPDQHQWHWHQGUiXQDGXUDFLyQPi[LPDGH
D'RFHGtDV
E6LHWHGtDV
F'LH]GtDV
/DLQVWUXFFLyQ\IDOORGHODVFDXVDVSHQDOHVFRQWUDMXHFHV\PDJLVWUDGRVSRU
GHOLWRV\IDOWDVFRPHWLGRVHQHOHMHUFLFLRGHVXFDUJRHQOD&RPXQLGDG$XWyQRPD
VLHPSUHTXHHVWDDWULEXFLyQQRFRUUHVSRQGDDO7ULEXQDO6XSUHPRHVFRPSHWHQFLDGH
D(O-X]JDGR&HQWUDOGHOR3HQDO
E/D6DODGHOR3HQDOGHORV7ULEXQDOHV6XSHULRUHVGH-XVWLFLDFRUUHVSRQGLHQWHV
F/D6DODGHOR3HQDOGHOD$XGLHQFLD1DFLRQDO
/D6DOD4XLQWDGHO7ULEXQDO6XSUHPRWLHQHODVLJXLHQWHU~EULFD
D'HOR0LOLWDU
E'HOR6RFLDO
F'HOR&LYLO
/DLQVWUXFFLyQ\IDOORGHODVFDXVDVFRQWUD-XHFHV0DJLVWUDGRV\PLHP
EURVGHO0LQLVWHULR)LVFDOSRUGHOLWRVFRPHWLGRVGHQWURGHOiPELWRGHXQD&RPXQL
GDG$XWyQRPDFRUUHVSRQGHUi
D/DLQVWUXFFLyQGHOVXPDULRFRUUHVSRQGHUiDO-XH]GH,QVWUXFFLyQ\HOIDOORDO7ULEXQDO
6XSHULRUGH-XVWLFLDGHGLFKD&RPXQLGDG$XWyQRPD
E/DLQVWUXFFLyQGHOVXPDULRFRUUHVSRQGHUiDO-XH]GH,QVWUXFFLyQ\HOIDOORDO7ULEXQDO
6XSUHPRGH-XVWLFLD
F$O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPDFRUUHVSRQGLHQWHVLHPSUH
TXHHVWDDWULEXFLyQQRFRUUHVSRQGDDO7ULEXQDO6XSUHPRGH-XVWLFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DSRWHVWDGMXULVGLFFLRQDOFRUUHVSRQGHD
D/DV&RUWHV
E(O3XHEOR
F/RV-X]JDGRV\7ULEXQDOHV
&XDQGRKDEODPRVGHyUJDQRVMXULVGLFFLRQDOHVQRVHVWDPRVUHILULHQGR
D$ORV-X]JDGRV\7ULEXQDOHV
E$ORV6HUYLFLRV-XUtGLFRVGHO(VWDGR
F$ORVLQWHJUDQWHVGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
/DSRWHVWDGMXULVGLFFLRQDOHVODIDFXOWDGGH
D'LFWDUQRUPDVSHQDOHV
E-X]JDU\KDFHUHMHFXWDUORMX]JDGR
F'LFWDUOH\HV\UHJODPHQWRV\REOLJDUDVXFXPSOLPLHQWR
&XiOGHORVVLJXLHQWHVyUJDQRVMXULVGLFFLRQDOHVQRWLHQHXQDGHQRPLQD
FLyQFRUUHFWD"
D-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
E-X]JDGRV0XQLFLSDOHV
F-X]JDGRVGHOR3HQDO
4XLpQLQVWUXLUiORVVXPDULRVSRUGHOLWRVFRPHWLGRVSRU'LSXWDGRVR6H
QDGRUHV"
D(O-X]JDGRGH,QVWUXFFLyQ
E(O-X]JDGR&HQWUDOGH,QVWUXFFLyQ
F(O7ULEXQDO6XSUHPRGH-XVWLFLD
(OyUJDQRMXULVGLFFLRQDOVXSHULRUHQWRGRVORVyUGHQHVH[FHSWRORGLVSXHV
WRHQPDWHULDGHJDUDQWtDVFRQVWLWXFLRQDOHVHV
E(O7ULEXQDO6XSUHPRGH-XVWLFLD
F/RV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
/DIDOVLILFDFLyQGHPRQHGDGHOLWRVPRQHWDULRV\ORVUHODWLYRVDOFRQWUROGH
FDPELRVVRQFRPSHWHQFLD
D'HORV7ULEXQDOHV6XSHULRUHVGH-XVWLFLD
E'HOD$XGLHQFLD1DFLRQDOVLHPSUHTXHWHQJDUHSHUFXVLyQHQHOiPELWRWHUULWRULDOGH
PiVGHXQD$XGLHQFLD
F'HOD$XGLHQFLD1DFLRQDORGHORV-X]JDGRV&HQWUDOHVGHOR3HQDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O7ULEXQDO6XSHULRUGH-XVWLFLDWLHQHMXULVGLFFLyQ
D'HQWURGHOiPELWRGHODSURYLQFLDUHVSHFWLYD
E6LHPSUHHQHOiPELWRGHODFRUUHVSRQGLHQWH&RPXQLGDG$XWyQRPD
F*HQHUDOPHQWHHQHOGHVX&RPXQLGDG$XWyQRPDSHURSXHGHH[WHQGHUVHDPiVGH
XQD&RPXQLGDG
(OHQMXLFLDPLHQWRGHORVGHOLWRVGHWHUURULVPRFRPHWLGRVSRUPHQRUHVGH
HGDGSHQDOFRUUHVSRQGHD
E(O-X]JDGR&HQWUDOGH0HQRUHV
F/RV-X]JDGRVGH0HQRUHV
3XHGHQLQVWDUHOSURFHGLPLHQWRGH+DEHDV&RUSXV
D(OSULYDGRGHOLEHUWDGVXFyQ\XJHRSHUVRQDXQLGDSRUDQiORJDUHODFLyQGHDIHFWL
YLGDG GHVFHQGLHQWHV DVFHQGLHQWHV KHUPDQRV \ HQ VX FDVR ORV UHSUHVHQWDQWHV GH ORV
PHQRUHV\SHUVRQDVLQFDSDFLWDGDV
E(OGHWHQLGRFXDOTXLHUDGHVXVIDPLOLDUHVHO0LQLVWHULR)LVFDO\HO-XH]GHRILFLR
F(O/HWUDGR\HO3URFXUDGRUGHOGHWHQLGRFXDOTXLHUIDPLOLDUGHOPLVPRHO0LQLVWHULR
)LVFDO\HO'HIHQVRUGHO3XHEOR
(QEDVHDTXpGHOLWRVHSRGUiVROLFLWDUOD2UGHQ(XURSHDGH'HWHQFLyQ\
(QWUHJDGHXQLQGLYLGXR"
D(QFDVRGHTXHHOGHOLWRFRPHWLGRHVWXYLHUDFDVWLJDGRFRQXQDSHQDRXQDPHGLGD
GHVHJXULGDGSULYDWLYDGHOLEHUWDG
E(QFDVRGHTXHHOGHOLWRFRPHWLGRVHDGHFDUiFWHUFLYLORDGPLQLVWUDWLYR
F(QFDVRGHTXHWHQJDSHQGLHQWHVXGHWHQFLyQSRUXQDSHQDTXHQROOHYHFRQVLJR
SULYDFLyQGHOLEHUWDG
6HxDOHGHHQWUHORVLJXLHQWHORTXHVHDFRUUHFWRHQHOWUDWDPLHQWRDXQ
GHWHQLGRSRUWHUURULVPRTXHVHHQFXHQWUHLQFRPXQLFDGR
D1RSXHGHHOHJLU$ERJDGRTXHOHDVLVWDVHOHQRPEUDUiGHRILFLR
E&RPXQLFDUDODSHUVRQDTXHGHVLJQHHOOXJDUGRQGHVHHQFXHQWUHHOGHWHQLGR
F6HSRGUiHQWUHYLVWDUHQSULYDGRFRQHO/HWUDGRTXHOHKD\DDVLVWLGRWUDVSUHVWDUGH
FODUDFLyQ
&yPRVHGHQRPLQDDOSULQFLSLRHQYLUWXGGHOFXDOHQWRGRSURFHVRSHQDO
KD\XQDSDUWHDFXVDGRUD\RWUDGHIHQVRUD"
D'HRSRUWXQLGDG
E'HFRQWUDGLFFLyQ
F'HOHJDOLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpDFFLRQHVFRQVHFXHQFLDGHOGHOLWRRIDOWDFRPHWLGRVHSXHGHQUHQXQ
FLDUSRUODSDUWHRIHQGLGD"
D/DVFLYLOHV
E/DVSHQDOHV
F6yORODVGHULYDGDVGHODVOHYHV
4Xp FDUDFWHUtVWLFD GHEH WHQHU OD SHQD SULYDWLYD GH OLEHUWDG SDUD SRGHU
DSOLFDUHOHQMXLFLDPLHQWRUiSLGRGHGHWHUPLQDGRVGHOLWRV"
D4XHH[FHGDGHVHLVDxRV
E4XHH[FHGDGHFLQFRDxRV
F4XHQRH[FHGDGHFLQFRDxRV
(O SURFHGLPLHQWR DEUHYLDGR VH DSOLFDUi DO HQMXLFLDPLHQWR GH ORV GHOLWRV
FDVWLJDGRVFRQSHQDSULYDWLYDGHOLEHUWDG
D6XSHULRUDQXHYHDxRV
E1RVXSHULRUDQXHYHDxRV
F1RVXSHULRUDGLH]DxRV
$ORVHIHFWRVOHJDOHVTXpFRQVLGHUDFLyQWLHQHHODWHVWDGRSROLFLDO"
D$FWRLQGLVSHQVDEOHSDUDODLQLFLDFLyQGHOSURFHVRSHQDO
E9HUGDGIHKDFLHQWH
F'HQXQFLD
(VWiQREOLJDGRVDGHQXQFLDU
D/RVWHVWLJRVSUHVHQFLDOHVGHOKHFKRSXQLEOH
E/RVTXHSRUUD]yQGHVXFDUJRSURIHVLyQXRILFLRWHQJDQFRQRFLPLHQWRGHODSHUSH
WUDFLyQGHXQKHFKRSXQLEOH
(VWiQH[RQHUDGRVGHODREOLJDFLyQGHGHQXQFLDU
D/RVPHQRUHVGHFDWRUFHDxRV\ORVTXHQRJR]DUHQGHOSOHQRXVRGHUD]yQ
E(OFyQ\XJHGHOSUHVXQWRGHOLQFXHQWHRSHUVRQDXQLGDSRUDQiORJDUHODFLyQGHDIHF
WLYLGDG

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWH
FDVWUHQVH\HQORVVXSXHVWRVGHHVWDGRGHVLWLRGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQV
WLWXFLyQ
D'HOR&LYLO\3HQDO
D6yORVLVRQFRQVXPDGDVH[FHSWRODVLQWHQWDGDVFRQWUDODVSHUVRQDVRHOSDWUL
PRQLRTXHVHFDVWLJDUiQLQFOXVRHQJUDGRGHWHQWDWLYD
F4XHHOGHWHQLGRHQQLQJ~QFDVRSXHGHHOHJLU/HWUDGRTXHOHDVLVWD\DTXHSUH
FHSWLYDPHQWHVHOHQRPEUDGHRILFLRFRQHOTXHQRWHQGUiGHUHFKRDODHQWUHYLVWDUHVHUYDGD
WUDVVXGHFODUDFLyQ
D4XHWHQJDUD]RQHVIXQGDGDVGHTXHVHSXHGHSRQHUHQSHOLJURHOSURFHVRSHQDO
HQWUiPLWH
E$OSURSLR-XH]GH,QVWUXFFLyQ
F7RGRVHOORV
E(O7ULEXQDO6XSUHPR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E6t
E4XHFHVDUiDODYH]TXHGLFKR*RELHUQR
E$OD6DOD6HJXQGDR6DODGHOR3HQDOGHO7ULEXQDO6XSUHPR
E&LQFR
D/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
F&HQWUDOGH,QVWUXFFLyQ
E$ODVUHVSHFWLYDV&RPXQLGDGHV$XWyQRPDV
F/RVHVSDxROHVRH[WUDQMHURVFRQDUUHJORDODOH\KD\DQVLGRRQRSHUMXGLFDGRV
SRUHOGHOLWR
D1HFHVDULD\WpFQLFD
D(OFRQRFLPLHQWR\IDOORGHODVFDXVDVSRUGHOLWRVFDVWLJDGRVFRQSHQDSULYDWLYD
GHOLEHUWDGQRVXSHULRUDFLQFRDxRVPXOWDFXDOTXLHUDTXHVHDVXFXDQWtD\SULYDFLyQGHO
SHUPLVRGHFRQGXFLU
E(O-X]JDGRGH9LJLODQFLD3HQLWHQFLDULD
D8QLGDGGHDFFLyQGHSHQGHQFLDMHUiUTXLFDOHJDOLGDGHLPSDUFLDOLGDG
E&XDWURGHOR3HQDOGHOR&RQWHQFLRVRDGPLQLVWUDWLYRGHOR6RFLDO\GH$SHODFLyQ
E(OGH,QVWUXFFLyQGHOOXJDUHQTXHVHKDOOHODSHUVRQDSULYDGDGHOLEHUWDG
D(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
F'HUHFKRSURFHVDOSHQDO
D/DIXQFLyQGHO-XUDGRHVREOLJDWRULD
F3RUYHLQWHPLHPEURV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D/D6DODGH*RELHUQRGHO7ULEXQDO6XSHULRUGH-XVWLFLDFRUUHVSRQGLHQWH
E(O-XH]&HQWUDOGH,QVWUXFFLyQ
E/DFRQVWDWDFLyQGHODUHDOL]DFLyQGHOKHFKRSRUHOTXHVHWUDPLWD
F'HQXHYH-XUDGRV
F&RPSDUHFHHOLPSXWDGRDOMXLFLR
D/RVUHODWLYRVDOFRQWUROGHFDPELRV
E-X]JDGRGH,QVWUXFFLyQ
D/DV$XGLHQFLDV3URYLQFLDOHVOD$XGLHQFLD1DFLRQDOORV7ULEXQDOHV6XSHULRUHVGH
ODV&RPXQLGDGHV$XWyQRPDV\HO7ULEXQDO6XSUHPRGH-XVWLFLD
F7HQHUPiVGHVHVHQWD\FLQFRDxRVGHHGDG
E(O3DUWLGR-XGLFLDO
D3DUDDSOLFDUODOH\
E/DVSULPHUDVFXDUHQWD\RFKRKRUDV
F'HIRUPDLQPHGLDWDDVXGHWHQFLyQ
D(O
E([FHSWRFXDQGRVXGHWHQFLyQORIXHUHSRUKHFKRVVXVFHSWLEOHVGHVHUWLSLILFDGRV
H[FOXVLYDPHQWHFRPRGHOLWRVFRQWUDODVHJXULGDGGHOWUiILFR
E$OD6DOD6HJXQGDGHO7ULEXQDO6XSUHPRGH-XVWLFLD
D$O-X]JDGRGH,QVWUXFFLyQGH*XDUGLDGHOOXJDUGRQGHVHHQFXHQWUHHOGHWHQLGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'DUFRQRFLPLHQWRDOD$XWRULGDG-XGLFLDOFRPSHWHQWHTXLHQGHFLGLUiORSURFH
GHQWH
F6HOHQRPEUD$ERJDGRGHRILFLR
D/DOLEHUWDGSHUVRQDODQWHXQDGHWHQFLyQDUELWUDULD
F(OWLHPSRHVWULFWDPHQWHQHFHVDULRSDUDODUHDOL]DFLyQGHODVDYHULJXDFLRQHVWHQ
GHQWHVDOHVFODUHFLPLHQWRGHORVKHFKRV\FRPRPi[LPRVHWHQWD\GRVKRUDV
D/D6DOD6HJXQGDR6DODGHOR3HQDOGHO7ULEXQDO6XSUHPRGH-XVWLFLD
F$TXHOORVFX\RFRQRFLPLHQWRYHQJDDWULEXLGRDOD$XGLHQFLD1DFLRQDO
D0XQLFLSLRV3DUWLGRV-XGLFLDOHV3URYLQFLDV\&RPXQLGDGHV$XWyQRPDV
F$QWHFXDOTXLHUDGHORVDQWHULRUHV
E'HQXQFLDV
E'HOLWR
E6tSHURVLHPSUHTXHVHVROLFLWHDO-XH]FRPSHWHQWHDQWHVGHFXPSOLUVHODVSUL
PHUDVFXDUHQWD\RFKRKRUDVGHODGHWHQFLyQ
E/DVGLOLJHQFLDVSROLFLDOHV\MXGLFLDOHVHQORVWpUPLQRVTXHODOH\HVWDEOH]FD
E'XUDQWHHOHVWDGRGHVLWLR
F7RGDVODVDQWHULRUHVORVRQ
F/DVDQWHULRUHVUHVSXHVWDVVRQFLHUWDV
E'LHFLVLHWH
F$OSUHVXQWRVRVSHFKRVRGHXQGHOLWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E6LHWH\FLQFR
E1LQJ~Q-XUDGRSXHGHDEVWHQHUVHGHYRWDUSRUVHUHVWDIXQFLyQREOLJDWRULD
F&XDWURGHOR3HQDOGHOR&RQWHQFLRVRDGPLQLVWUDWLYRGHOR6RFLDO\GH$SHODFLyQ
F(VWHyUJDQRQRH[LVWH
D3RQHULQPHGLDWDPHQWHDGLVSRVLFLyQMXGLFLDODODSHUVRQDVROLFLWDQWHSRUHQWHQ
GHUHOODPLVPDRODVSHUVRQDVDXWRUL]DGDVSRUODOH\SDUDHOORGHTXHVHHQFXHQWUDGHWHQLGD
GHIRUPDLOHJDO
E/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
D6t
E(O$ERJDGRHQFDUJDGRGHVXDVLVWHQFLD
F7RGRVORVGHOLWRVFLWDGRVDQWHULRUPHQWH
E&XDWURFDQGLGDWRV
F&XDWURFDQGLGDWRV
E&LQFRGtDV
F'HO0LQLVWHULR)LVFDO
F(O-X]JDGR&HQWUDOGHOR3HQDO
F(O-XH]'HFDQR
D3UHVLGHQWHGH6DODGHO7ULEXQDO6XSUHPRGH-XVWLFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F'HFXDOTXLHUDGHODVWUHVIRUPDVDQWHULRUHV
F$ODHQWUHYLVWDUHVHUYDGDFRQHO$ERJDGRTXHOHKD\DDVLVWLGRWUDVKDEHUSUHV
WDGRGHFODUDFLyQ
D/DOH\WHPSRUDOYLJHQWHHQHVHPRPHQWR
F1LQJXQRGHHOORV
D2UGHQFLYLO
D([LVWHQHQFDGDSURYLQFLD
F/RV7ULEXQDOHVGH-XVWLFLD
F/RVMX]JDGRVGH3D]ORVGH,QVWUXFFLyQ\ORVGHOR3HQDO
E5HFHSWDFLyQ
D (O -XH] GH ,QVWUXFFLyQ GHO OXJDU HQ TXH VH HQFXHQWUH OD SHUVRQD SULYDGD GH
OLEHUWDG
F&LQFRGtDV
E8QFRQMXQWRGHQRUPDVTXHUHJXODQHOSURFHVRSHQDO
D8QDVXFHVLyQGHDFWRVVXMHWRVDQRUPDVIRUPDOHVTXHSHUPLWHQDOyUJDQRMX
ULVGLFFLRQDOGLFWDUXQDVHQWHQFLD
D'HWRGRGHOLWRQDFHODDFFLyQSHQDO
F'HORV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
E-XH]GH9LJLODQFLD3HQLWHQFLDULD
F(O0LQLVWHULR)LVFDO
D(O-X]JDGRGH,QVWUXFFLyQFRUUHVSRQGLHQWH
F6yORVLQRGLHUDILDQ]DEDVWDQWHRQRWXYLHVHGRPLFLOLRFRQRFLGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F(OFyQ\XJHSDUHMDGHKHFKRDVFHQGLHQWHVRGHVFHQGLHQWHVGHOGHWHQLGR
D3URPRYHUODDFFLyQGHOD-XVWLFLDHQGHIHQVDGHODOHJDOLGDGGHORVGHUHFKRV
GHORVFLXGDGDQRV\GHOLQWHUpVS~EOLFR
D'HOR3HQDO
F(O-X]JDGRGHOR3HQDO
F3URYLQFLDO
D8QSURFHGLPLHQWRSDUDSRQHUDGLVSRVLFLyQMXGLFLDOLQPHGLDWDDXQGHWHQLGR
LOHJDOPHQWH
F/RV-X]JDGRV&HQWUDOHVGH,QVWUXFFLyQ
D1XHYH-XUDGRVGRVVXSOHQWHV\HO0DJLVWUDGR3UHVLGHQWH
F8QSURFHVRSHQDO
E7UHVPHVHV\YHLQWHDxRV
D'RFHGtDV
E/D6DODGHOR3HQDOGHORV7ULEXQDOHV6XSHULRUHVGH-XVWLFLDFRUUHVSRQGLHQWHV
D'HOR0LOLWDU
F$O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPDFRUUHVSRQGLHQWH
VLHPSUHTXHHVWDDWULEXFLyQQRFRUUHVSRQGDDO7ULEXQDO6XSUHPRGH-XVWLFLD
F/RV-X]JDGRV\7ULEXQDOHV
D$ORV-X]JDGRV\7ULEXQDOHV
E-X]JDU\KDFHUHMHFXWDUORMX]JDGR
E-X]JDGRV0XQLFLSDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(O7ULEXQDO6XSUHPRGH-XVWLFLD
E(O7ULEXQDO6XSUHPRGH-XVWLFLD
F'HOD$XGLHQFLD1DFLRQDORGHORV-X]JDGRV&HQWUDOHVGHOR3HQDO
E6LHPSUHHQHOiPELWRGHODFRUUHVSRQGLHQWH&RPXQLGDG$XWyQRPD
E(O-X]JDGR&HQWUDOGH0HQRUHV
D (O SULYDGR GH OLEHUWDG VX FyQ\XJH R SHUVRQD XQLGD SRU DQiORJD UHODFLyQ GH
DIHFWLYLGDGGHVFHQGLHQWHVDVFHQGLHQWHVKHUPDQRV\HQVXFDVRORVUHSUHVHQWDQWHVGH
ORVPHQRUHV\SHUVRQDVLQFDSDFLWDGDV
D(QFDVRGHTXHHOGHOLWRFRPHWLGRHVWXYLHUDFDVWLJDGRFRQXQDSHQDRXQD
PHGLGDGHVHJXULGDGSULYDWLYDGHOLEHUWDG
D1RSXHGHHOHJLU$ERJDGRTXHOHDVLVWDVHOHQRPEUDUiGHRILFLR
E'HFRQWUDGLFFLyQ
D/DVFLYLOHV
F4XHQRH[FHGDGHFLQFRDxRV
E1RVXSHULRUDQXHYHDxRV
F'HQXQFLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
0(','$6'(3527(&&,1,17(*5$/&2175$/$9,2/(1&,$'(*e1(52
35,1&,3,265(&725(635(9(1&,1<'(7(&&,1'(5(&+26'(/$6
08-(5(69&7,0$6'(9,2/(1&,$'(*e1(52787(/$,167,78&,21$/
(63(&,$/5()(5(1&,$$/$681,'$'(6(63(&,$/,=$'$6(1/$
35(9(1&,1(1/$6)8(5=$6<&8(5326'(6(*85,'$'0$5&2
1250$7,92<$&78$&,21(6(1&$0,1$'$6$)$925(&(5/$,*8$/'$'
(175(+20%5(6<08-(5(6$7(1&,1$3(5621$6'(3(1',(17(6
(QEDVHDOD/H\2UJiQLFDGH0HGLGDVGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LR
OHQFLDGH*pQHURVHxDOHFXiOGHORVVLJXLHQWHVRUJDQLVPRVSXHGHHMHUFLWDUDQWH
ORV 7ULEXQDOHV OD DFFLyQ GH FHVDFLyQ GH OD SXEOLFLGDG LOtFLWD SRU XWLOL]DU HQ IRUPD
YHMDWRULDODLPDJHQGHODPXMHU
D/D'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHURDVtFRPRHO0LQLVWHULR)LVFDO
E/DV$VRFLDFLRQHVTXHWHQJDQSRUREMHWR~QLFRODGHIHQVDGHORVLQWHUHVHVGHODPXMHU
(OSURSRQHUODSROtWLFDGHO*RELHUQRFRQWUDODYLROHQFLDVREUHODVPXMHUHV\
FRRUGLQDUHLPSXOVDUWRGDVODVPHGLGDVOOHYDGDVDFDERHQHVWDPDWHULDHVFRP
SHWHQFLD
D'HOD'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHUR
E'HOD6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
F'HOD'LUHFFLyQ*HQHUDOFRQWUDOD'LVFULPLQDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DV YtFWLPDV GH YLROHQFLD GH JpQHUR WLHQHQ GHUHFKR D XQD SUHVWDFLyQ SRU
GHVHPSOHRSURSRUFLRQDOD
D'LHFLRFKRPHVHVGHGXUDFLyQ
E'RFHPHVHVGHGXUDFLyQ
F6HLVPHVHVGHGXUDFLyQ
(QWUHODVPHGLGDVGHVHQVLELOL]DFLyQSUHYHQFLyQ\GHWHFFLyQGHOD9LROHQFLD
GH*pQHURGyQGHVHLQFDUGLQDOD&RPLVLyQFRQWUDOD9LROHQFLDGH*pQHUR"
D(QOD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6HFUHWDUtDGH(VWDGRGH,JXDOGDG
E(QOD'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHUR
F(QHO&RQVHMR,QWHUWHUULWRULDOGHO6LVWHPD1DFLRQDOGH6DOXG
4XpIRUPDOHJDOWRPDODQRUPDTXHSXHGHGLFWDUXQ-XH]HQUHODFLyQFRQOD
SURWHFFLyQDXQDPXMHUPDOWUDWDGD"
D6HQWHQFLD
E$XWR
F5HVROXFLyQ
4Xp2UJDQLVPR,QWHUQDFLRQDOHQHODxRGHILQLyODYLROHQFLDFRPRHO
XVRLQWHQFLRQDOGHODIXHU]DItVLFDKDFLDRWUDSHUVRQDJUXSRVRFRPXQLGDGHV\TXH
WLHQHFRPRFRQVHFXHQFLDVSUREDEOHVOHVLRQHVItVLFDVGDxRVSVLFROyJLFRVDOWHUD
FLRQHVGHGHVDUUROORDEDQGRQRHLQFOXVRPXHUWH
D/D$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
E)LJXUDHQOD'HFODUDFLyQGH'HUHFKRV+XPDQRV
F/D2UJDQL]DFLyQ0XQGLDOGHOD6DOXG
,QLFLDOPHQWHTXpYLJHQFLDWHPSRUDOWHQGUiQODVPHGLGDVGHFDUiFWHUFLYLO
FRQWHQLGDVHQOD2UGHQGH3URWHFFLyQGLFWDGDSRUYLROHQFLDGHJpQHUR"
D7UHLQWDGtDV
E6HVHQWDGtDV
F1RYHQWDGtDV
(QUHODFLyQFRQODSUHJXQWDDQWHULRUVLGHQWURGHOSOD]RVHxDODGRIXHVH
LQFRDGR D LQVWDQFLD GH OD YtFWLPD R GH VX UHSUHVHQWDQWH OHJDO XQ SURFHVR GH
IDPLOLDDQWHODMXULVGLFFLyQFLYLOODVPHGLGDVDGRSWDGDVSHUPDQHFHUiQHQYLJRU
GXUDQWH
D7UHLQWDGtDVPiV
E6HVHQWDGtDVPiV
F1RYHQWDGtDVPiV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QGLFKRWpUPLQRGHWLHPSRGHODSUHJXQWDDQWHULRUTXLpQSXHGHUDWLILFDUODV
PRGLILFDUODVRGHMDUODVVLQHIHFWR"
D/D$XGLHQFLD3URYLQFLDOFRUUHVSRQGLHQWH
E(O-XH]GH3ULPHUD,QVWDQFLDTXHUHVXOWHFRPSHWHQWH
F&XDOTXLHUDGHODVGRVUHVSXHVWDVDQWHULRUHVHVYiOLGD
$ODVWUDEDMDGRUDVSRUFXHQWDSURSLDYtFWLPDVGHYLROHQFLDGHJpQHURTXHFH
VHQHQVXDFWLYLGDGSDUDKDFHUHIHFWLYDVXSURWHFFLyQRVXGHUHFKRDODDVLVWHQFLD
VRFLDOLQWHJUDOVHOHVVXVSHQGHUiODREOLJDFLyQGHFRWL]DUGXUDQWHXQSHUtRGRGH
D6HLVPHVHV
E8QDxR
F0LHQWUDVHO-XH]ORFRQVLGHUHRSRUWXQR
/DVIXQFLRQDULDVTXHVHDQYtFWLPDVGHYLROHQFLDGHJpQHURSRGUiQVROLFLWDU
ODH[FHGHQFLD
D6LKDQWUDEDMDGRXQDxR
E6LKDQWUDEDMDGRGRVDxRV
F1RQHFHVLWDQSHUtRGRSUHYLRWUDEDMDGR
'yQGH VH LQFDUGLQD OD 'HOHJDFLyQ GHO *RELHUQR SDUD OD 9LROHQFLD GH
*pQHUR"
D(QHO0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQ
E(QHO0LQLVWHULRGH6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
F(QHO0LQLVWHULRGHO,QWHULRU
(QUHODFLyQFRQODYLROHQFLDGHJpQHURUHFLELGDODVROLFLWXGGHSURWHFFLyQ
SDUDODYtFWLPDHO-XH]FRPSHWHQWHGHEHUiUHFLELUHQDXGLHQFLDDODFLWDGDYtFWLPD
\VLHVSRVLEOHDODJUHVRUHQHOSOD]RPi[LPRGH
D6HWHQWD\GRVKRUDV
E&XDUHQWD\RFKRKRUDV
F&XDWURGtDV
/D'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHURHVWDEDDGVFULWDDO
UHIRUPDGR0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQSHURHQODDFWXDOLGDGGHSHQGHGHO
0LQLVWHULRGH
D,QWHULRU
E6HJXULGDG6RFLDO
F6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'yQGHGLFHOD&RQVWLWXFLyQTXHFRUUHVSRQGHDORVSRGHUHVS~EOLFRVSUR
PRYHUODVFRQGLFLRQHVSDUDTXHOLEHUWDG\ODLJXDOGDGGHOLQGLYLGXR\GHORVJUXSRV
HQTXHVHLQWHJUDQVHDQUHDOHV\HIHFWLYDV"
D$UWtFXOR
E$UWtFXOR
F$UWtFXOR
/D&RQVWLWXFLyQSURKtEHH[SUHVDPHQWHODGLVFULPLQDFLyQSRUUD]yQGHVH[R
HQHODUWtFXOR
DDOHVWDEOHFHUHOSULQFLSLRGHLJXDOGDGHQPDWHULDWULEXWDULD
EDOHVWDEOHFHUHOGHEHUGHWUDEDMDU\HOGHUHFKRDOWUDEDMR
FDOHVWDEOHFHUHOGHUHFKRDXQDYLYLHQGDGLJQD\DGHFXDGD
$TXLpQVHHQFRPLHQGDHOLPSXOVRGHODFRRUGLQDFLyQGHODVSROtWLFDVGHOD
$GPLQLVWUDFLyQ(VWDWDOHQPDWHULDGHLJXDOGDGGHRSRUWXQLGDGHVHQWUHKRPEUHV\
PXMHUHVFRQODVSROtWLFDV$XWRQyPLFDV\/RFDOHV"
D$O2EVHUYDWRULRGHOD,JXDOGDGGH2SRUWXQLGDGHVHQWUHKRPEUHV\PXMHUHV
E$OD6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
F$O,QVWLWXWRGHOD0XMHU
&RUUHVSRQGHDO,QVWLWXWRGHOD0XMHU
D3URPRYHU\IRPHQWDUODVFRQGLFLRQHVTXHSRVLELOLWHQODLJXDOGDGVRFLDOHQWUHDPERV
VH[RV
E(OGHVDUUROORGHOSULQFLSLRFRQVWLWXFLRQDOGHLJXDOGDGHQHORUGHQFLYLOSHQDO\ODERUDO
F&RQRFHUGHODVFDXVDVFLYLOHV\SHQDOHVHQPDWHULDGHYLROHQFLDVREUHODPXMHU
/D'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHURHVXQyUJDQRFRQ
UDQJRGH
D6XEVHFUHWDUtD
E6HFUHWDUtDGH(VWDGR
F'LUHFFLyQ*HQHUDO
/D/H\2UJiQLFDGHGHGLFLHPEUHGH3URWHFFLyQ,QWHJUDOFRQWUD
OD9LROHQFLDGH*pQHURWLHQHSRUREMHWRDFWXDUVREUHODYLROHQFLDTXH
D6HHMHUFHVREUHODVPXMHUHVSRUTXLHQHVVHDQRKD\DQVLGRVXVFyQ\XJHVRGHTXLH
QHVHVWpQRKD\DQHVWDGROLJDGRVDHOODVSRUUHODFLRQHVVLPLODUHVGHDIHFWLYLGDGDXQVLQ
FRQYLYHQFLD
E6HHMHUFHVREUHODVPXMHUHVSRUTXLHQHVVHDQVXVFyQ\XJHVRGHTXLHQHVHVWpQOLJD
GRVDHOODVSRUUHODFLRQHVVLPLODUHVGHDIHFWLYLGDGVLKDH[LVWLGRFRQYLYHQFLD
F1LQJXQDGHODVGRVUHVSXHVWDVDQWHULRUHVHVFRUUHFWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVPHGLGDVTXHSUHYpOD/H\GH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH
*pQHURWLHQHQFRPRILQDOLGDG
D3UHYHQLUVDQFLRQDU\HUUDGLFDUGLFKDYLROHQFLD
E3UHYHQLUVDQFLRQDUHUUDGLFDUGLFKDYLROHQFLD\SUHVWDUDVLVWHQFLDDODVYtFWLPDV
F6DQFLRQDU\HUUDGLFDUGLFKDYLROHQFLDSRUORVSRGHUHVS~EOLFRVVLQSHUMXLFLRGHODV
REOLJDFLRQHVIDPLOLDUHV
/RV-X]JDGRVGH9LROHQFLDVREUHOD0XMHUFRQRFHUiQ
D'HODLQVWUXFFLyQ\HQVXFDVRHOIDOORGHODVFDXVDVSHQDOHVHQPDWHULDGHYLROHQFLD
VREUHODPXMHU\GHODVFDXVDVFLYLOHVUHODFLRQDGDVFRQHOOR
E'HORVSURWRFRORVVDQLWDULRVDQWHODVDJUHVLRQHVGHULYDGDVGHODYLROHQFLDGHJpQHUR
F'HODHODERUDFLyQGHORVDQWHSUR\HFWRVGHOH\TXHWHQJDQDOJ~QLPSDFWRGHJpQHUR
SRUODVPHGLGDVTXHHQHOORVVHHVWDEOH]FDQ
6HJ~QODOHJLVODFLyQGHOD8QLyQ(XURSHD\HQUHODFLyQFRQHOSULQFLSLRGH
,JXDOGDGHQWUHKRPEUHV\PXMHUHV
D,PSHGLUiDORV(VWDGRVPLHPEURVPDQWHQHURDGRSWDUPHGLGDVTXHRIUH]FDQYHQWD
MDVFRQFUHWDVGHVWLQDGDVDIDFLOLWDUDOVH[RPHQRVUHSUHVHQWDGRHOHMHUFLFLRGHDFWLYLGDGHV
SURIHVLRQDOHVRDHYLWDUFRPSHQVDUGHVYHQWDMDVHQODVFDUUHUDVSURIHVLRQDOHV
E1RLPSHGLUiDORV(VWDGRVPLHPEURVPDQWHQHURDGRSWDUPHGLGDVTXHRIUH]FDQYHQ
WDMDVFRQFUHWDVGHVWLQDGDVDIDFLOLWDUDOVH[RPHQRVUHSUHVHQWDGRHOHMHUFLFLRGHDFWLYLGDGHV
SURIHVLRQDOHVRDHYLWDURFRPSHQVDUGHVYHQWDMDVHQVXVFDUUHUDVSURIHVLRQDOHV
F1LQJXQDGHODVGRVUHVSXHVWDVDQWHULRUHVHVYiOLGD
/D &RPLVLyQ FRQWUD OD 9LROHQFLD GH *pQHUR HQFDUJDGD GH DSR\DU WpFQLFD
PHQWHFRRUGLQDU\HYDOXDUODVPHGLGDVVDQLWDULDVHVWDEOHFLGDVHQODPHQFLRQDGD
/H\HVWiLQWHJUDGD
D(QOD-HIDWXUDGH6DQLGDGGHFDGD&RPXQLGDG$XWyQRPD
E(QODVGHSHQGHQFLDVFRPSHWHQWHVGHFDGD$\XQWDPLHQWR
3DUDODREOLJDWRULDFUHDFLyQGHODPHQFLRQDGD&RPLVLyQFRQWUDOD9LROHQFLD
GH*pQHUROD/H\HQFXHVWLyQGLRXQSOD]RGH
D8QPHV
E'RVPHVHV
F7UHVPHVHV
(O3ODQGH6HQVLELOL]DFLyQ\3UHYHQFLyQGHOD9LROHQFLDGH*pQHURHVWiEDMR
ODUHVSRQVDELOLGDG
D'HO*RELHUQRGHO(VWDGR
E'HO*RELHUQRGHFDGD&RPXQLGDG$XWyQRPD
F'HFDGD'LSXWDFLyQ3URYLQFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QUHODFLyQFRQODPDWHULDGHPDORVWUDWRVDPXMHUHVORVSULQFLSLRV\YDORUHV
GHOVLVWHPDHGXFDWLYRVHLQFOXLUiQREOLJDWRULDPHQWHHQORVQLYHOHVGHHGXFDFLyQ
D,QIDQWLO3ULPDULD6HFXQGDULDREOLJDWRULD\SDUDSHUVRQDVDGXOWDV
E%DFKLOOHUDWR)RUPDFLyQ3URIHVLRQDO\8QLYHUVLGDGHV
F7RGDVODVUHVSXHVWDVDQWHULRUHVVRQFLHUWDV
(QORV3ODQHVGH)RUPDFLyQLQLFLDO\SHUPDQHQWHGHOSURIHVRUDGRVHLQFOXLUi
XQDIRUPDFLyQHVSHFtILFDHQPDWHULDGHLJXDOGDGHQWUHKRPEUHV\PXMHUHVVREUH
ODVEDVHVGH
D5HVSHWRGHORVGHUHFKRV\OLEHUWDGHVIXQGDPHQWDOHV
E3UHYHQFLyQGHFRQIOLFWRV\VXUHVROXFLyQSDFtILFD
F/DVUHVSXHVWDVD\EVRQYHUGDGHUDV
(Q HO LPSXOVR SDUD OD DGRSFLyQ GH PHGLGDV HGXFDWLYDV TXH IRPHQWHQ OD
LJXDOGDGUHDO\HIHFWLYDHQORV&HQWURV(GXFDWLYRVWHQGUiQLQFLGHQFLDIXQGDPHQWDO
D/DV'LUHFFLRQHVGHORV&HQWURV
E/RV&RQVHMRV(VFRODUHV
F/DV$VRFLDFLRQHVGH3DGUHVGH$OXPQRV
/D&RPLVLyQFRQWUDOD9LROHQFLDGH*pQHURHVWDUiFRPSXHVWDSRUUHSUHVHQ
WDQWHVGH
D/RV$\XQWDPLHQWRVDIHFWDGRV
E/DV'LSXWDFLRQHVFRQFRPSHWHQFLDHQODPDWHULD
F7RGDVODV&RPXQLGDGHV$XWyQRPDVFRQFRPSHWHQFLDHQODPDWHULD
/DDQWHULRUPHQWHPHQFLRQDGD&RPLVLyQHPLWLUiXQLQIRUPHDQXDOTXHVHUi
UHPLWLGRD
D(O2EVHUYDWRULR(VWDWDOGHOD9LROHQFLDVREUHOD0XMHU
E(O3OHQRGHO&RQVHMR,QWHUWHUULWRULDO
/RVGHUHFKRVGHODVPXMHUHVYtFWLPDVGHODYLROHQFLDGHJpQHURVHFRQWHP
SODQHQOD/H\2UJiQLFDFRQFUHWDPHQWHHQVX7tWXOR
D,
E,,
F,,,
(ODQWHULRU7tWXORGHFXiQWRV&DStWXORVFRQVWD"
D&LQFR
E&XDWUR
F7UHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUD HO FXPSOLPLHQWR GH ORV VHUYLFLRV TXH FRQWHPSODQ HQ ODV QRUPDV DQ
WHULRUHVH[LVWHXQ)RQGRDOTXHGHDFXHUGRFRQORVFULWHULRVREMHWLYRVTXHVH
GHWHUPLQHQSRGUiQDFFHGHU
D(O(VWDGR
E/DV&RPXQLGDGHV$XWyQRPDV
F/DV'LSXWDFLRQHV3URYLQFLDOHV
/RVFLWDGRVFULWHULRVREMHWLYRVVREUHHOPHQFLRQDGR)RQGRVHGHWHUPLQD
UiQDWUDYpVGH
D8QD&RQIHUHQFLD6HFWRULDO
E8Q$FXHUGRPXOWLODWHUDO
F8Q$FXHUGRHQWUHHO(VWDGR\ODV&RPXQLGDGHV$XWyQRPDV3URYLQFLDV\$\XQWDPLHQWRV
3DUDODVYtFWLPDVGHODYLROHQFLDGHJpQHURODDVLVWHQFLDMXUtGLFDODDVXPH
HQVXFDVR
D8QDGLUHFFLyQ/HWUDGD~QLFD
E8QDGLUHFFLyQ/HWUDGDGLVWLQWDHQFDGDLQVWDQFLD
F(O0LQLVWHULR)LVFDO
(QHOiPELWRVRFLDODODVYtFWLPDVGHYLROHQFLDGHJpQHURVHKDQHVWDEOH
FLGRPRGLILFDFLRQHVHQ
D/DVQRUPDVGH3URWHFFLyQGHOD6DOXG
E/RV&RQYHQLRV&ROHFWLYRV
F(O(VWDWXWRGHORV7UDEDMDGRUHV
&XDQGRXQDYtFWLPDGHODYLROHQFLDTXHQRVRFXSD\SRUHVWHPRWLYRVXV
SHQGDRUHVXHOYDYROXQWDULDPHQWHVXFRQWUDWRGHWUDEDMRSRGUiJHQHUDUGHUHFKRD
ODVLWXDFLyQOHJDOGH
D'HVHPSOHR
E([FHGHQFLDIRU]RVD
F([FHGHQFLDYROXQWDULD
/DVD\XGDVVRFLDOHVDODVYtFWLPDVGHYLROHQFLDGHJpQHURVHPRGXODUiQFRQ
UHODFLyQD
D/DHGDG
E/DVUHVSRQVDELOLGDGHVIDPLOLDUHVGHODYtFWLPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
7RGDVODVPXMHUHVYtFWLPDVGHYLROHQFLDGHJpQHURWLHQHQJDUDQWL]DGRVORV
GHUHFKRVUHFRQRFLGRVHQHVWD/H\"
D'HSHQGHGHVXRULJHQ
E6yORODVTXHKXELHVHQYLYLGRHQPDWULPRQLROHJDOPHQWHFRQWUDtGR
F7RGDVWLHQHQJDUDQWtDGHHVRVGHUHFKRVLQGHSHQGLHQWHPHQWHGHFXDOTXLHURWUDFDXVD
/RVGHUHFKRVGHODVPXMHUHVIXQFLRQDULDVS~EOLFDVYtFWLPDVGHODYLROHQFLD
GHJpQHURVHHQFXHQWUDQHQHO7tWXOR,,\FRQFUHWDPHQWHHQHO&DStWXOR
D,,,
E,,
F,
/DIXQFLRQDULDYtFWLPDGHYLROHQFLDGHJpQHURWHQGUiGHUHFKR
D$ODUHGXFFLyQRDODUHRUGHQDFLyQGHVXWLHPSRGHWUDEDMR
E$ODPRYLOLGDGJHRJUiILFDGHFHQWURGHWUDEDMRRELHQDODH[FHGHQFLDHQORVWpUPLQRV
GHVXOHJLVODFLyQHVSHFtILFD
F$WRGRORDQWHULRUFRQDFUHGLWDFLyQGHODVLWXDFLyQ
/DV DXVHQFLDV WRWDOHV R SDUFLDOHV DO WUDEDMR GHULYDGDV GH OD YLROHQFLD GH
JpQHURVXIULGDSRUXQDIXQFLRQDULDVHFRQVLGHUDUiQ
D,QMXVWLILFDGDVGHQRRUGHQDUORHOPpGLFR
E-XVWLILFDGDVHQORVWpUPLQRVGHVXOHJLVODFLyQHVSHFtILFD
F-XVWLILFDGDVSHURQRGHYHQJDUiQKDEHUHV
(QHOWHPDGHYLROHQFLDGHJpQHURLQWHUYHQGUiQFRQFDUiFWHUSULRULWDULRODV
)XHU]DV\&XHUSRVGH6HJXULGDG
D'HO(VWDGR
E'HODV&RPXQLGDGHV$XWyQRPDV
F'HODV&RUSRUDFLRQHV/RFDOHV
(QHOWHPDGHODYLROHQFLDTXHQRVRFXSDODV)XHU]DV\&XHUSRVGH6HJXUL
GDGFXHQWDQFRQXQLGDGHVHVSHFLDOL]DGDVTXHVRQ
D /DV 8QLGDGHV GH 3UHYHQFLyQ $VLVWHQFLD \ 3URWHFFLyQ FRQWUD ORV PDORV WUDWRV D OD
PXMHU
E/RV(TXLSRVGH(VSHFLDOLVWDV0XMHU0HQRU\ORV6HUYLFLRVGH$WHQFLyQDOD0XMHU
F7RGRVORVDQWHULRUHV
/DLJXDOGDGHQWUHKRPEUHV\PXMHUHVHVWiFRPSUHQGLGDHQOD&RQVWLWXFLyQ
HQORVDUWtFXORV
D\
E\
F(QWRGRVORVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OGtDGHPDU]RGHOVHSXEOLFDURQWUHVUGHQHV0LQLVWHULDOHVVREUH
ODV DFWXDFLRQHV HQFDPLQDGDV D IDYRUHFHU OD LJXDOGDG HQWUH KRPEUHV \ PXMHUHV
SRUTXp0LQLVWHULRV"
D3UHVLGHQFLDGHO*RELHUQR$GPLQLVWUDFLRQHV3~EOLFDV\'HIHQVD
E7UDEDMRH,QPLJUDFLyQ6DQLGDG\$VXQWRV6RFLDOHV\$GPLQLVWUDFLRQHV3~EOLFDV
F,QWHULRU\6DQLGDGTXHUHGDFWyGRV
/D/H\2UJiQLFDGHGHGLFLHPEUHIXHDSUREDGDSRU
D/DPD\RUtDVLPSOHGHO&RQJUHVRGHORV'LSXWDGRV
E/DPD\RUtDDEVROXWDGHOPLVPR
F8QDQLPLGDG
/DIRUPDGHDFWXDFLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\
GH&RRUGLQDFLyQFRQORVUJDQRV-XGLFLDOHVSDUDODSURWHFFLyQGHODYLROHQFLDGR
PpVWLFD\GHJpQHURHVWiFRQWHQLGD
D(QOD/H\GH(QMXLFLDPLHQWR&ULPLQDO
E(QHO&yGLJR3HQDO
F(QXQ3URWRFRORHVSHFtILFRSDUDHVWRVFDVRV
(QWUH ODV PHGLGDV HQFDPLQDGDV D IDYRUHFHU OD LJXDOGDG HQWUH KRPEUHV \
PXMHUHVTXpWDQWRSRUFLHQWRVHYDDUHVHUYDUHQHO3ODQ1DFLRQDOGH$FFLyQSDUD
HO(PSOHRGLULJLGRDODVPXMHUHV"
D(O
E(O
F(O
3DUD IRPHQWDU OD LQFRUSRUDFLyQ H LQWHJUDFLyQ GH OD PXMHU HQ ODV )XHU]DV
$UPDGDVVHFUHDUi
D8QD&RPLVLyQ
E8Q*UXSRGH7UDEDMR
F8Q2EVHUYDWRULRGHOD0XMHU
3DUDTXHODPXMHUSXHGDFRQFLOLDUODYLGDODERUDO\IDPLOLDUHQHOiPELWRGH
ODV$GPLQLVWUDFLRQHV3~EOLFDVVHHVWDEOHFHUiXQDPRGDOLGDGHVSHFtILFDGHVXMRU
QDGDODERUDOSUHYLDQHJRFLDFLyQFRQ
D/D$GPLQLVWUDFLyQ&HQWUDO
E/D$GPLQLVWUDFLyQ$XWRQyPLFD
F/DV&HQWUDOHV6LQGLFDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DDQWHULRUPRGDOLGDGGHMRUQDGDODERUDOGHEHUiHVWDUMXVWLILFDGDSRU
D7HQHUDVXFDUJRSHUVRQDVPD\RUHVRKLMRVPHQRUHVGHDxRV
E7HQHUDVXFDUJRSHUVRQDVGLVFDSDFLWDGDV
F&XDOTXLHUDGHORVFDVRVFLWDGRV
6H KD DFRUGDGR DPSOLDU HO WLHPSR GH UHVHUYD GHO GHVWLQR D ORV PLOLWDUHV
SURIHVLRQDOHVHQVLWXDFLyQGH
E([FHGHQFLDIRU]RVD
F([FHGHQFLDYROXQWDULDSDUDHOFXLGDGRGHORVKLMRV
3DUDDERUGDUODVLWXDFLyQGHODVPXMHUHVHQODVLQVWLWXFLRQHVLQYHVWLJDGRUDV
\PHMRUDUVXSUHVHQFLDHQHOODVVHFUHDODXQLGDGGH0XMHU\&LHQFLDHQWUHHOPDU
FRQRUPDWLYRGHDFWXDFLRQHVHQFDPLQDGDVDIDYRUHFHUODLJXDOGDGHQWUHKRPEUHV\
PXMHUHV\HOORGHQWURGHODSDUWDGRUHODWLYRD
D,QYHVWLJDFLyQ
E(PSOHR
F(PSUHVD
(QODOXFKDFRQWUDODYLROHQFLDGHJpQHURVHDSUXHEDODSXHVWDHQPDUFKD
GH XQ SODQ HVSHFtILFR SDUD OD LQVHUFLyQ ODERUDO GH ODV PXMHUHV YtFWLPDV GH GLFKD
YLROHQFLDSUHYLDFRQFHUWDFLyQFRQ
D/D$GPLQLVWUDFLyQ&HQWUDO
E/DV$GPLQLVWUDFLRQHV$XWyQRPDV
F/DV$GPLQLVWUDFLRQHV/RFDOHV
(OVHJXLPLHQWRVREUHODVPHGLGDVWRPDGDVHQHO$FXHUGR\GHQWURGHOFLWDGR
PDUFRQRUPDWLYRORHIHFWXDUi
D/D6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
E/D&RPLVLyQGHOD0XMHU
F/D,QVSHFFLyQGH7UDEDMR
(QOD/H\FRQWUDOD9LROHQFLDGH*pQHURODWXWHODLQVWLWXFLRQDOSRUXQODGR
\ORVGHUHFKRVGHODVPXMHUHVYtFWLPDVGHGLFKDYLROHQFLDSRURWURVHFRQWHPSODQ
UHVSHFWLYDPHQWHHQORV7tWXORV
D,\,9
E,,,\,,
F3UHOLPLQDU\,,

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHGHHQWUHORVVLJXLHQWHVHOyUJDQRTXHUHPLWLUiDQXDOPHQWHDO*RELHU
QR\DODV&RPXQLGDGHV$XWyQRPDVXQLQIRUPHVREUHODHYROXFLyQGHODYLROHQFLD
HMHUFLGDVREUHODPXMHUFRQGHWHUPLQDFLyQGHORVWLSRVSHQDOHVTXHVHKD\DQDSOLFD
GR\GHODHIHFWLYLGDGGHODVPHGLGDVDFRUGDGDVSDUDODSURWHFFLyQGHODVYtFWLPDV
D(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHU
E/D'LUHFFLyQ*HQHUDOGHODV)XHU]DV\&XHUSRVGH6HJXULGDGDFWXDQWHVHQFDGDFDVR
F(OWLWXODUGHO-X]JDGRTXHHQWLHQGDGHODVXQWRFRQFUHWR
'HHQWUHODVRSFLRQHVTXHVHSURSRQHQVHxDOHODPHGLGDGHOD/H\WUDWDGD
TXHVHDXQ3ULQFLSLR5HFWRUGHODGLFKD/H\
D*DUDQWL]DUGHUHFKRVHFRQyPLFRVSDUDODVPXMHUHVYtFWLPDVGHODYLROHQFLDGHJpQHUR
FRQHOILQGHIDFLOLWDUVXLQWHJUDFLyQVRFLDODVtFRPRIRUWDOHFHUHOPDUFRSHQDO\SURFHVDO
YLJHQWHSDUDDVHJXUDUXQDSURWHFFLyQLQWHJUDOGHVGHODVLQVWDQFLDVMXULVGLFFLRQDOHVDODV
YtFWLPDVGHODYLROHQFLDGHJpQHUR
E )RPHQWDU OD HVSHFLDOL]DFLyQ GH ORV FROHFWLYRV SURIHVLRQDOHV TXH LQWHUYLHQHQ HQ HO
SURFHVRGHLQWHUYHQFLyQDWHQFLyQ\SURWHFFLyQDODVYtFWLPDV
/D/H\*HQHUDOGH3XEOLFLGDGGLFHTXHODSXEOLFLGDGTXHXWLOLFHODLPDJHQGH
ODPXMHUFRQFDUiFWHUYHMDWRULRRGLVFULPLQDWRULRVHFRQVLGHUDFRQGXFWD
D,OtFLWD
E/HJDO
F'HOLFWLYD
(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHUVHHQFXHQWUDLQFDUGLQD
GRHQHO0LQLVWHULR
D'HO,QWHULRU
E'H-XVWLFLD
F'H6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
(QWUH ODV PHGLGDV GH VHQVLELOL]DFLyQ SUHYHQFLyQ \ GHWHFFLyQ SDUD FRP
EDWLUODYLROHQFLDGHJpQHURHQHOiPELWRHGXFDWLYRDTXpHWDSDGHODIRUPDFLyQ
HGXFDFLRQDO FRUUHVSRQGH GHVDUUROODU HQ HO DOXPQDGR VX FDSDFLGDG SDUD DGTXLULU
KDELOLGDGHVHQODUHVROXFLyQSDFtILFDGHFRQIOLFWRV\SDUDFRPSUHQGHU\UHVSHWDUOD
LJXDOGDGHQWUHVH[RV"
D(GXFDFLyQ,QIDQWLO
E(GXFDFLyQ3ULPDULD
F(GXFDFLyQ6HFXQGDULD
/DVDFFLRQHVRULHQWDGDVDODGHWHFFLyQSUHFR]GHODYLROHQFLDVREUHODVPX
MHUHVVHLQFOX\HQHQODVPHGLGDVOHJDOHVHQHOiPELWR
D(GXFDWLYR
E6DQLWDULR
F'HOD3XEOLFLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHORVGHUHFKRVGHODVPXMHUHVYtFWLPDVGHODYLROHQFLDGHJpQHUROD/H\
JDUDQWL]DHOGHUHFKRD
D/DLQIRUPDFLyQ\DVLVWHQFLDVRFLDO
E/DDVLVWHQFLDMXUtGLFD
F7RGRVHOORV
/D /H\ TXH WUDWDPRV HQWUH ORV GHUHFKRV HFRQyPLFRV GH ODV PXMHUHV YtF
WLPDVGHODYLROHQFLDGHJpQHURILMDXQDVD\XGDVTXHUHVSHFWRDOVDODULRPtQLPR
LQWHUSURIHVLRQDOHTXLYDOHQDVX
D
E
F
/DVD\XGDVGHODSUHJXQWDDQWHULRUVHDERQDQFRQFDUJRDORV3UHVXSXHVWRV
*HQHUDOHVUHVSHFWLYRV
D'HOD(QWLGDG/RFDOGHVXGRPLFLOLR
E'HOD&RPXQLGDG$XWyQRPDFRUUHVSRQGLHQWH
F'HO(VWDGR
6RQiUHDVSULRULWDULDVHQORV3ODQHVSDUDOD,JXDOGDGGH2SRUWXQLGDGHVHQWUH
0XMHUHV\+RPEUHV
D/DLJXDOGDGHQODYLGDHFRQyPLFD
E/DSDUWLFLSDFLyQHQODWRPDGHGHFLVLRQHV
F/DSURPRFLyQGHODFDOLGDGGHYLGDGHODVPXMHUHV
(QTXpDxRVHFHOHEUyOD&RQIHUHQFLDGH3HNtQVREUHODPXMHU"
D(QHODxR
E(QHODxR
F(QHODxR
/D/H\2UJiQLFDGH0HGLGDVGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH
*pQHURSUHYpODDGRSFLyQGHPHGLGDVHQWUHViPELWRVHVSHFtILFRV
D6DOXGWUDEDMR\FXOWXUD
E(GXFDFLyQSXEOLFLGDG\VDQLGDG
F&XOWXUDHFRQRPtD\IDPLOLD
4XLpQGLFWDUiOD2UGHQGH3URWHFFLyQSDUDODVYtFWLPDVGHODYLROHQFLDGR
PpVWLFD"
D(O-XH]GH,QVWUXFFLyQ
E(O-XH]GH3ULPHUD,QVWDQFLD
F(O-XH]GH9LROHQFLDVREUHOD0XMHU\HQVXFDVRHO-XH]GH*XDUGLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QUHODFLyQFRQOD2UGHQGH3URWHFFLyQSDUDODVYtFWLPDVGHYLROHQFLDGR
PpVWLFDHVFRUUHFWRDILUPDU
D4XHVHUHTXLHUHFRQYLYHQFLDHQWUHHODJUHVRU\ODYtFWLPD
E4XHVHUHTXLHUHXQDUHODFLyQGHILOLDFLyQRPDWULPRQLDOHQWUHHODJUHVRU\ODYtFWLPD
F'LFKD2UGHQVHUiDFRUGDGDHQYLUWXGGHXQDXWRMXGLFLDO
&yPRSXHGHDFRUGDUVHOD2UGHQGH3URWHFFLyQGHODVYtFWLPDVGHODYLR
OHQFLDGRPpVWLFD"
D'HRILFLRDLQVWDQFLDGHODYtFWLPDRGHO0LQLVWHULR)LVFDO
E6yORDLQVWDQFLDGHODYtFWLPD
F'HRILFLRDLQVWDQFLDGHODYtFWLPDRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
$QWHTXLpQSXHGHVROLFLWDUVHOD2UGHQGH3URWHFFLyQGHODVYtFWLPDVGHOD
YLROHQFLDGRPpVWLFD"
D$QWHHO0LQLVWHULR)LVFDO\DQWHODV)XHU]DV\&XHUSRVGH6HJXULGDG
E(QODVRILFLQDVGHDWHQFLyQDODVYtFWLPDVGHODYLROHQFLDGRPpVWLFDRGHORVVHUYLFLRV
VRFLDOHVRGH,QVWLWXFLRQHVDVLVWHQFLDOHVGHSHQGLHQWHVGHODV$GPLQLVWUDFLRQHV3~EOLFDV
/DDXGLHQFLDSDUDUHVROYHUODSHWLFLyQGHOD2UGHQGH3URWHFFLyQGHVGHOD
SUHVHQWDFLyQGHODVROLFLWXGGHEHUiFHOHEUDUVHHQHOSOD]RPi[LPRGH
DKRUDV
EKRUDV
FKRUDV
4XLpQJHVWLRQDHO5HJLVWUR&HQWUDOSDUDOD3URWHFFLyQGHODV9tFWLPDVGHOD
9LROHQFLD'RPpVWLFD"
D(O-XH]GH9LROHQFLDVREUHOD0XMHU
F/D6HFUHWDUtDGH(VWDGRGH-XVWLFLD
/DYLROHQFLDGHJpQHURDTXHVHUHILHUHOD/H\2UJiQLFDGH3URWHFFLyQ,QWH
JUDOFRQWUDOD9LROHQFLDGH*pQHURFRPSUHQGH
D/RVDFWRVGHYLROHQFLDItVLFD\SVLFROyJLFDVREUHODYtFWLPD
E/RVDFWRVGHYLROHQFLDSVLFROyJLFDVREUHODPXMHULQFOXLGDHQHOiPELWRGHDSOLFDFLyQ
GHODOH\
F/RVDFWRVGHYLROHQFLDItVLFDLQFOXLGDVODVDJUHVLRQHVDODOLEHUWDGGHH[SUHVLyQ\OD
OLEHUWDGVH[XDOGHODYtFWLPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHODVPHGLGDVSUHYLVWDVSRUODFLWDGD/H\FRQWUDOD9LROHQFLDGH*pQHUR
QRVHHQFXHQWUD
D/DVXSUHVLyQHQORVPDWHULDOHVHGXFDWLYRVGHWRGRVORVHVWHUHRWLSRVVH[LVWDVRGLV
FULPLQDWRULRV
E/DLQFRUSRUDFLyQGHODPXMHUDORVyUJDQRVGHGLUHFFLyQGHODVHPSUHVDV
F/RVSURJUDPDVGHVHQVLELOL]DFLyQ\IRUPDFLyQFRQWLQXDGDGHOSHUVRQDOVDQLWDULRFRQ
HOILQGHPHMRUDUHOGLDJQyVWLFRSUHFR]ODDVLVWHQFLD\ODUHKDELOLWDFLyQGHODPXMHUHQVLWXD
FLRQHVGHYLROHQFLDGHJpQHUR
(Q UHODFLyQ FRQ ODV PXMHUHV YtFWLPDV GH YLROHQFLD GH JpQHUR HV FRUUHFWR
DILUPDUTXH
D(QHOVXSXHVWRGHTXHDFUHGLWHQLQVXILFLHQFLDGHUHFXUVRVSDUDOLWLJDUWHQGUiQ
GHUHFKR D OD GHIHQVD \ UHSUHVHQWDFLyQ JUDWXLWDV SRU $ERJDGR \ 3URFXUDGRU HQ WRGRV
ORV SURFHVRV \ SURFHGLPLHQWRV DGPLQLVWUDWLYRV TXH WHQJDQ VX FDXVD HQ OD YLROHQFLD
SDGHFLGD
E7LHQHQGHUHFKRDVHUYLFLRVVRFLDOHVGHDWHQFLyQHPHUJHQFLDDSR\R\DFRJLGD\GH
UHFXSHUDFLyQLQWHJUDO\WDPELpQDODUHGXFFLyQRDODUHRUGHQDFLyQGHVXWLHPSRGHWUDEDMR
&XiOGHORVVLJXLHQWHVQRHVXQGHUHFKRTXHFRUUHVSRQGDDODPXMHUWUDED
MDGRUDYtFWLPDGHODYLROHQFLDGHJpQHUR"
D'HUHFKRDYDFDFLRQHVUHWULEXLGDVGXUDQWHHOWLHPSRTXHORVyUJDQRVGHDVLVWHQFLD
HVWLPHQRSRUWXQR
E'HUHFKRDFDPELRGHSXHVWRGHWUDEDMR
F'HUHFKRDODVXVSHQVLyQGHODUHODFLyQODERUDOFRQUHVHUYDGHOSXHVWRGHWUDEDMR
(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHU
D'HSHQGHGHO0LQLVWHULRGHO,QWHULRU
E7LHQHHOUDQJRGH'LUHFFLyQ*HQHUDO\GHSHQGHGHO0LQLVWHULRGH7UDEDMRH,QPL
JUDFLyQ
F/HFRUUHVSRQGHHODVHVRUDPLHQWRODHYDOXDFLyQODHODERUDFLyQGHHVWXGLRVHLQIRU
PHV\SURSXHVWDVGHDFWXDFLyQHQPDWHULDGHYLROHQFLDVREUHODPXMHU
6HJ~QODUHSHWLGD/H\2UJiQLFDGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH
*pQHURTXLpQHVWDEOHFHUiHQODV)XHU]DV\&XHUSRVGH6HJXULGDG8QLGDGHVHVSH
FLDOL]DGDVHQODSUHYHQFLyQGHODYLROHQFLDGHJpQHUR\HQHOFRQWUROGHODHMHFXFLyQ
GHODVPHGLGDVMXGLFLDOHVTXHVHWRPHQ"
D(O*RELHUQR
F/DV&RPXQLGDGHV$XWyQRPDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QGHVDUUROORGHODSUHYLVLyQDTXHVHUHILHUHODSUHJXQWDDQWHULRUFyPRVH
GHQRPLQDQWDOHV8QLGDGHV"
D8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ83$3
E8QLGDGHVGH9LROHQFLD'RPpVWLFD
F8QLGDGHVGH3URWHFFLyQ,QWHJUDOGHOD0XMHU
/DV 8QLGDGHV D TXH VH UHILHUH OD SUHJXQWD DQWHULRU HVWiQ LQFDUGLQDGDV D
QLYHOFHQWUDOHQ
D/D8QLGDGGH6HJXULGDG&LXGDGDQD
E/D8QLGDGGH9LROHQFLD)DPLOLDU
F/D8QLGDGGH3UR[LPLGDG\GH5HODFLRQHV&LXGDGDQDV
(QODDFWXDFLyQGHODV8QLGDGHVSUHYLVWDVHQOD/H\2UJiQLFDGH3URWHFFLyQ
,QWHJUDOFRQWUDOD9LROHQFLDGH*pQHURVHSUHYpQWUHVQLYHOHVGHFRPXQLFDFLyQR
UHODFLyQFRQODYtFWLPDHQTXpFRQVLVWHHOWHUFHUQLYHO"
D/RFRQVWLWX\HHOIXQFLRQDULRSROLFLDOTXHWLHQHDVLJQDGDODODERUGHSUHYHQFLyQDVLVWHQ
FLD\SURWHFFLyQGHODVPXMHUHVYtFWLPDVGHYLROHQFLDGHJpQHURTXHOHKD\DQVLGRDVLJQDGDV
E/RFRQVWLWX\HOD6DODGH&RRUGLQDFLyQ2SHUDWLYDGHOD&RPLVDUtD*HQHUDOGH6HJXUL
GDG&LXGDGDQDFRQXQQ~PHURGHWHOpIRQRGHFDUiFWHUJUDWXLWRDWHQGLGRSHUPDQHQWHPHQ
WHGXUDQWHODVKRUDV
F/RFRQVWLWX\HOD6DODGHO
(O6HUYLFLR&HQWUDOGHOD8QLGDGHVSUHYLVWDVHQODFLWDGD/H\GH3URWHFFLyQ
,QWHJUDOHVWDUiIRUPDGDSRU
D8Q,QVSHFWRU-HIHHOQ~PHURGHIXQFLRQDULRVGHOD(VFDOD(MHFXWLYDTXHSRU2UGHQ
0LQLVWHULDOVHGHWHUPLQH\GRVIXQFLRQDULRVGHOD(VFDODGH6XELQVSHFFLyQ
E 8Q ,QVSHFWRU-HIH XQ IXQFLRQDULR GH OD (VFDOD (MHFXWLYD \ GRV IXQFLRQDULRV GH OD
(VFDODGH6XELQVSHFFLyQ
F8Q-HIHGHO*UXSRGH$QiOLVLV\ORVIXQFLRQDULRVGHOD(VFDODGH6XELQVSHFFLyQSUHFL
VRVSDUDHOFRUUHFWRGHVHPSHxRGHODIXQFLyQTXHVHHQFRPLHQGDDWDOHV8QLGDGHV
(VFRUUHFWRDILUPDUTXH
D/RVIXQFLRQDULRVGHODV8QLGDGHVHVSHFLDOHVSUHYLVWDVHQOD/H\2UJiQLFDHQVXV8QL
GDGHV7HUULWRULDOHVVHKDUiXQDVHOHFFLyQHQWUHIXQFLRQDULRVGHO&XHUSR1DFLRQDOGH3ROLFtD
HQVLWXDFLyQGH6HJXQGD$FWLYLGDG
E/DDFWXDFLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDGHVWiVXMHWDDXQ3URWRFRORGH
$FWXDFLyQGHODVPLVPDV\GH&RRUGLQDFLyQFRQORVUJDQRV-XGLFLDOHVSDUDODSURWHFFLyQ
GHODYLROHQFLDGRPpVWLFD\GHJpQHUR
1R HV IXQFLyQ GH OD 3ROLFtD HQ UHODFLyQ FRQ ODSURWHFFLyQ GHODV PXMHUHV
YtFWLPDVGHODYLROHQFLDGHJpQHUR
D0DQWHQHUXQFRQWUROGHODV]RQDVRiUHDVGHYLGDFRWLGLDQDGHODPXMHU\GHODV
]RQDVIUHFXHQWDGDVSRUHOSRVLEOHDJUHVRU
E$FWXDUFRPRHQODFHHQWUHODPXMHUYtFWLPDGHPDORVWUDWRV\ORVUHVWDQWHVVHUYLFLRV
HVSHFLDOL]DGRVHQDWHQFLyQDODPXMHU
F(ODERUDUXQLQIRUPHDQXDOVREUHODHYROXFLyQGHODYLROHQFLDHMHUFLGDVREUHODPXMHU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D/H\2UJiQLFDGH3URWHFFLyQ,QWHJUDOTXHHVWXGLDPRVWLHQHSRUREMHWR
D3UHYHQLU\HUUDGLFDUODYLROHQFLDGHJpQHUR
E6DQFLRQDUODYLROHQFLDGHJpQHUR
(QTXpDxRVHFHOHEUyOD&RQYHQFLyQSDUDODHOLPLQDFLyQGHWRGDVODVIRU
PDVGHGLVFULPLQDFLyQFRQWUDODPXMHU"
D
E
F
$TXLpQFRUUHVSRQGHRUJDQL]DUGHIRUPDHVSHFLDOVHJ~QODUHSHWLGD/H\
ORV VHUYLFLRV VRFLDOHV GH DWHQFLyQ DSR\R DFRJLGD \ UHFXSHUDFLyQ LQWHJUDO GH ODV
PXMHUHVYtFWLPDVGHODYLROHQFLDGHJpQHUR"
D$ODV&RPXQLGDGHV$XWyQRPDV
E$ODV&RUSRUDFLRQHV/RFDOHV
F6RQFRUUHFWDVODVUHVSXHVWDVD\E
(QOD2UGHQGH3URWHFFLyQSDUDODVYtFWLPDVGHODYLROHQFLDGRPpVWLFD
D6yORVHLQFOXLUiQODVPHGLGDVFDXWHODUHVGHQDWXUDOH]DSHQDO
E6HLQFOXLUiQODVPHGLGDVFDXWHODUHVGHQDWXUDOH]DFLYLO\SHQDO
F6yORVHSRGUiQLQFOXLUODVPHGLGDVGHRUGHQSHQDOTXHVROLFLWHHO0LQLVWHULR)LVFDO
4XpDUWtFXORFRQVWLWXFLRQDOWUDWDHOGHUHFKRDODYLGD\DODLQWHJULGDGItVLFD
\PRUDO"
D(O
E(O
F(O
&XiOIXHHO$xR(XURSHRGH/XFKDFRQWUDOD9LROHQFLDGH*pQHUR"
D(ODxR
E(ODxR
F(ODxR
/D UHVHUYD GH SOD]DV HQ ORV FXUVRV GH IRUPDFLyQ GHO SHUVRQDO GLUHFWLYR
DGVFULWRDOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRSDUDDGMXGLFDUODVDODVHPSOHDGDV
S~EOLFDVVLHPSUH\FXDQGRUH~QDQORVUHTXLVLWRVH[LJLGRVHQODFRQYRFDWRULDDV
FLHQGHQDXQSRUFHQWDMHGHDOPHQRVXQ
D
E
F

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D/H\2UJiQLFDGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH*pQHUR
D1RVHUiDSOLFDEOHDORVPHQRUHVTXHVHHQFXHQWUHQHQHOHQWRUQRIDPLOLDUGHODPX
MHUYtFWLPDGHWDOYLROHQFLDVDOYRTXHGLFKRVPHQRUHVVHDQWDPELpQYtFWLPDVGLUHFWDVGHOD
YLROHQFLD
E/DVDJUHVLRQHVFRQWUDODVTXHSURWHJHGLFKD/H\QRLQFOX\HQODVFRDFFLRQHVDXQTXH
VtODVDPHQD]DVFRQVWLWXWLYDVGHGHOLWR
F*DUDQWL]DORVGHUHFKRVHQHOiPELWRODERUDO\IXQFLRQDULDOGHODVWUDEDMDGRUDV\IXQ
FLRQDULDVTXHVXIUDQYLROHQFLDGHJpQHUR
'HQWURGHODVPHGLGDVSUHYLVWDVHQHO$FXHUGRGHO&RQVHMRGH0LQLVWURVGH
GHPDU]RGHSRUHOTXHVHDGRSWDQPHGLGDVSDUDIDYRUHFHUODLJXDOGDGHQWUH
KRPEUHV\PXMHUHV\DOTXHGDSXEOLFLGDGOD2UGHQ35(GHGHPDU]R
VHHVWDEOHFHXQSRUFHQWDMHGHUHVHUYDSDUDHODFFHVRDDTXHOODVRFXSDFLRQHVGH
FDUiFWHUS~EOLFRFRQEDMDUHSUHVHQWDFLyQIHPHQLQDTXHVHFLIUDHQDOPHQRVXQ
D
E
F
6HxDOHODDILUPDFLyQFRUUHFWDHQUHODFLyQFRQORSUHYLVWRHQHO3ODQSDUDOD
,JXDOGDGGH*pQHURHQOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR
D/D$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGRJDUDQWL]DUiODSDULGDGHQWUHKRPEUHV\PXMHUHV
HQODFRPSRVLFLyQGHVXVyUJDQRVFROHJLDGRV\FRPLWpVGHH[SHUWRV
E(QODSURYLVLyQGHSXHVWRVGHWUDEDMRPHGLDQWHHOVLVWHPDGHOLEUHGHVLJQDFLyQORV
WLWXODUHVGHORVyUJDQRVGLUHFWLYRVDVHJXUDUiQODSDULGDGHQWUHKRPEUHV\PXMHUHV
F6HDGRSWDUiQODVPHGLGDVQRUPDWLYDVQHFHVDULDVSDUDKDFHUHIHFWLYDODH[FHGHQFLD
FRQUHVHUYDGHSOD]DSRUYLROHQFLDGHJpQHUR
6HxDOHODDILUPDFLyQLQFRUUHFWDGHODVHQXQFLDGDVDFRQWLQXDFLyQ
D(QOD,&RQIHUHQFLDVREUHOD0XMHUOD$VDPEOHD*HQHUDOGHOD218DSUREyOD
&RQYHQFLyQVREUHHOLPLQDFLyQGHWRGDVODVIRUPDVGHGLVFULPLQDFLyQFRQWUDODPXMHU
E(OWUDWDGRGHPVWHUGDPSUHYpFRPRPLVLyQGHOD8QLyQ(XURSHDODSURPRFLyQGHOD
LJXDOGDGGHRSRUWXQLGDGHVHQWUHKRPEUHV\PXMHUHVLQWURGXFLHQGRHVWHSULQFLSLRHQWRGDV
ODVSROtWLFDV\SURJUDPDV
F(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHUWHQGUiUDQJRGH'LUHFFLyQ*HQHUDO
(QUHODFLyQFRQODVPHGLGDVDGRSWDGDVSRUOD/H\2UJiQLFDGH0HGLGDVGH
3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH*pQHURVHxDOHODDILUPDFLyQLQFRUUHFWD
D&UHDORV-X]JDGRVGH9LROHQFLDVREUHOD0XMHU\FRQVLGHUDLOtFLWDODSXEOLFLGDGTXH
XWLOLFHODLPDJHQGHODPXMHUFRQFDUiFWHUYHMDWRULR
E3UHYpTXHOD(GXFDFLyQ,QIDQWLOFRQWULEXLUiDGHVDUUROODUHQODLQIDQFLDHODSUHQGL]DMH
GHODUHVROXFLyQSDFtILFDGHFRQIOLFWRV
F&UHDHO&RQVHMR6HFWRULDOGH0XMHUHV9tFWLPDVGH9LROHQFLDGH*pQHUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RV-X]JDGRVGH9LROHQFLDVREUHOD0XMHU
D+DEUiXQRRPiVHQFDGD3DUWLGR-XGLFLDO
E6HHVWDEOHFHUiXQRFRPRPtQLPRSRUFDGD&RPXQLGDG$XWyQRPD
F+DEUiXQRHQFDGDPXQLFLSLR
,QGLTXHFXiOGHODVVLJXLHQWHVQRHVXQDPHGLGDSUHYLVWDSDUDIDYRUHFHU
OD LJXDOGDG HQWUH KRPEUHV \ PXMHUHV GH DFXHUGR FRQ OR GLVSXHVWR HQ OD 2UGHQ
35(GHGHPDU]R
D/DFUHDFLyQGHO2EVHUYDWRULRGHOD0XMHUHQODV)XHU]DV$UPDGDV
E/DFUHDFLyQGHXQDXQLGDGHVSHFtILFD0XMHU\&LHQFLDSDUDDERUGDUODVLWXDFLyQGHODV
PXMHUHVHQLQVWLWXFLRQHVLQYHVWLJDGRUDV
F/DFUHDFLyQGHXQD8QLGDGHVSHFtILFD0XMHU\6DQLGDGGHVWLQDGDDDQDOL]DUODVLWXD
FLyQGHODVPXMHUHVHQHODFFHVRDODVLQVWLWXFLRQHVVDQLWDULDV
(O,QVWLWXWRGHOD0XMHUVHFRQILJXUD
D&RPRXQRUJDQLVPRDXWyQRPRGHSHQGLHQWHGHO0LQLVWHULRGH(GXFDFLyQ
E&RPRXQRUJDQLVPRDXWyQRPRGHSHQGLHQWHGHO0LQLVWHULRGH3ROtWLFD7HUULWRULDO\$GPL
QLVWUDFLyQ3~EOLFD
6HxDOHGHHQWUHODVVLJXLHQWHVODVPHGLGDVWRPDGDVSRUHO*RELHUQRUHV
SHFWRDODHQVHxDQ]DGHODLJXDOGDGHQWUHKRPEUHV\PXMHUHV
D/DIRUPDFLyQGHVGHOD(VFXHOD
E/DIRUPDFLyQLQLFLDO\SHUPDQHQWHGHOSURIHVRUDGR
/DV8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ83$3HVWiQUHOD
FLRQDGDVFRQ
D/DYLROHQFLDGHJpQHUR
E/DVHJXULGDGFLXGDGDQD
F/DDVLVWHQFLDSROLFLDOHQFDVRVGHFDWiVWURIHV
/D/H\2UJiQLFDGH0HGLGDVGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH
*pQHURHV
D/D/H\GHGHGLFLHPEUH
E/D/H\GHGHHQHUR
F/D/H\GHGHQRYLHPEUH
(O7tWXOR/D7XWHOD,QVWLWXFLRQDOGHOD/H\2UJiQLFDDQWHULRUHVHO
D,,,
E,,
F,

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D YLROHQFLD GH JpQHUR VH HQFXHQWUD UHFRJLGD HQ QXHVWUD &RQVWLWXFLyQ
GHQWURGHODUWtFXOR
D
E
F
&RQHO3URJUDPDGH$FFLyQ&RPXQLWDULROD8QLyQ(XURSHDD
WUDYpVGHVX3DUODPHQWRKDILMDGRVXSRVLFLyQUHVSHFWRDODYLROHQFLDGHJpQHUR
FRQTXpWLSRGHQRUPD"
D5HFRPHQGDFLyQ
E'HFLVLyQ
F5HJODPHQWR
4XpDVSHFWRVIXQGDPHQWDOHVDEDUFDOD/H\VREUHOD9LROHQFLDGH*pQHUR"
D3UHYHQWLYRVHGXFDWLYRV\UHVSXHVWDSXQLWLYD\WDPELpQDWHQFLyQSRVWHULRUDODVYtFWLPDV
E6RFLDOHVDVLVWHQFLDOHV\GHVXEVLGLDULHGDGDGPLQLVWUDWLYD
F7RGRVORVDQWHULRUHV
/DYLROHQFLDGHJpQHURDTXHVHUHILHUHOD/H\TXHWUDWDPRVFRPSUHQGH
WRGRDFWRGHYLROHQFLDItVLFD\SVLFROyJLFDLQFOX\HQGR
D/DOLEHUWDGVH[XDODVtFRPRODVDPHQD]DV\FRDFFLRQHV
E/DSULYDFLyQDUELWUDULDGHOLEHUWDG
4XpyUJDQRWLHQHODPLVLyQGHDVLVWLUDOD&RPLVLyQ(XURSHDHQODHODER
UDFLyQ\DSOLFDFLyQGHVXSROtWLFDUHODWLYDDODSURPRFLyQGHOHPSOHRGHODVPXMHUHV
\DODLJXDOGDGGHRSRUWXQLGDGHV"
D(O,QVWLWXWR(XURSHRGH,JXDOGDGGH*pQHUR
E(O&RPLWp&RQVXOWLYRSDUDOD,JXDOGDGHQWUHKRPEUHV\PXMHUHV
F(O2EVHUYDWRULR(XURSHRVREUH3ROtWLFDVGH,JXDOGDG
(QTXpIHFKDIXHDFRUGDGRSRUHO&RQVHMRGH0LQLVWURVHOYLJHQWH3ODQ
SDUDOD,JXDOGDGGH*pQHURHQOD$GPLQLVWUDFLyQGHO(VWDGR"
D(OGHIHEUHURGH
E(OGHPDU]RGH
F(OGHDEULOGH
(O2EVHUYDWRULR(VWDWDOGHOD9LROHQFLDVREUHOD0XMHUUHPLWLUiDO*RELHUQR
XQLQIRUPHVREUHODYLROHQFLDHMHUFLGDVREUHODPXMHUFRQXQDSHULRGLFLGDG
D$QXDO
E0HQVXDO
F6HPHVWUDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpGRFXPHQWRVHVVRQQHFHVDULRVSDUDMXVWLILFDUVHUYtFWLPDGHODYLR
OHQFLDGHJpQHUR"
D6RODPHQWHOD2UGHQGH3URWHFFLyQ
E/D2UGHQGH3URWHFFLyQRH[FHSFLRQDOPHQWHHOLQIRUPHGHO0LQLVWHULR)LVFDO
F6yORVHUiYiOLGRHOLQIRUPHGHO0LQLVWHULR)LVFDO
&RPHWHUXQGHOLWRSRUUD]yQGHVH[RXRULHQWDFLyQVH[XDOGHODYtFWLPD
D(VXQDFLUFXQVWDQFLDH[LPHQWHGHODUHVSRQVDELOLGDGFULPLQDO
E(VXQDFLUFXQVWDQFLDDJUDYDQWHGHODUHVSRQVDELOLGDGFULPLQDO
F1RPRGLILFDODUHVSRQVDELOLGDGFULPLQDO
4XLpQGHORVTXHVHFLWDQDFRQWLQXDFLyQFRPHWHXQDDFFLyQGHOLFWLYD"
D/RVTXHHQHOHMHUFLFLRGHVXVDFWLYLGDGHVSURIHVLRQDOHVRHPSUHVDULDOHVGHQLHJXHQ
DXQDSHUVRQDXQDSUHVWDFLyQDODTXHWHQJDGHUHFKRSRUUD]yQGHVXVH[RRGHVXRULHQ
WDFLyQVH[XDO
E(OIXQFLRQDULRRSDUWLFXODUHQFDUJDGRGHXQVHUYLFLRS~EOLFRTXHHQVXDFWLYLGDGSUR
IHVLRQDOQRIRPHQWHODLJXDOGDGHQWUHKRPEUHV\PXMHUHV
F(OTXHHQHOiPELWRODERUDOIDYRUH]FDRDGRSWHPHGLGDVTXHD\XGHQDOVH[RPHQRV
UHSUHVHQWDGRHQGHWHUPLQDGDVDFWLYLGDGHVSURIHVLRQDOHVRPHUFDQWLOHV
6HxDOHHQWUHODVVLJXLHQWHVODVPHGLGDVTXHFRQVLGHUHLQFOXLGDVHQORV
3ULQFLSLRV5HFWRUHVGHOD/H\2UJiQLFD
D)RUWDOHFHUODVPHGLGDVGHVHQVLELOL]DFLyQFLXGDGDQDGHSUHYHQFLyQDVtFRPRUHIRU]DU
HOFRQMXQWRGHORV6HUYLFLRV6RFLDOHV\VXHILFD]FRRUGLQDFLyQHQWUHORV\DH[LVWHQWHV
E &RQVDJUDU ORV GHUHFKRV GH ODV PXMHUHV YtFWLPDV GH YLROHQFLD GH JpQHUR H[LJLEOHV
DQWHODV$GPLQLVWUDFLRQHVS~EOLFDV
(QODDFWXDOLGDGVHJDUDQWL]DQORVGHUHFKRVHQHOiPELWRODERUDO\IXQFLR
QDULDOTXHFRQFLOLHQORVUHTXHULPLHQWRVGHODUHODFLyQODERUDO\GHHPSOHRS~EOLFR
FRQODVFLUFXQVWDQFLDVGHDTXHOODVWUDEDMDGRUDVRIXQFLRQDULDVTXHVXIUDQYLROHQFLD
GHJpQHUR"
D6t
E1R
F'HSHQGHGHFDGDFDVRGHYLROHQFLD
(QOD/H\2UJiQLFDODVOODPDGDV0HGLGDVGHVHQVLELOL]DFLyQSUH
YHQFLyQ\GHWHFFLyQHLQWHUYHQFLyQHQGLIHUHQWHViPELWRVVHGHWHUPLQDQHQHO
D7tWXOR,
E7tWXOR,,
F7tWXOR,,,

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O7tWXOR,VHGHVJORVDHQWUHV&DStWXORVHOOODPDGRPELWRGHODSXEOLFL
GDG\GHORVPHGLRVGHFRPXQLFDFLyQFRUUHVSRQGHDO
D,
E,,
F,9
/DV,QVWLWXFLRQHV\$VRFLDFLRQHVTXHWUDEDMDQDIDYRUGHODLJXDOGDGHQWUH
KRPEUHV\PXMHUHVHVWiQOHJLWLPDGDVOHJDOPHQWHSDUDHMHUFHUODDFFLyQGHFHVD
FLyQRUHFWLILFDFLyQGHODSXEOLFLGDGOHVLYDSDUDODVPXMHUHV"
D6yORHVWiOHJLWLPDGDODSURSLDLQWHUHVDGD
E6yORSXHGHKDFHUORHO0LQLVWHULR)LVFDO
F6tHVWiQOHJLWLPDGDVWRGDVODVPHQFLRQDGDV
/DVREOLJDFLRQHVGHOVLVWHPDSDUDODWUDQVPLVLyQGHYDORUHVGHUHVSHWRD
ODGLJQLGDGGHODVPXMHUHVVHHVSHFLILFDQIXQGDPHQWDOPHQWHHQHOiPELWR
D'HODSXEOLFLGDG
E(GXFDWLYR
F'HORVPHGLRVGHFRPXQLFDFLyQ
$QWHODVDJUHVLRQHVGHULYDGDVGHODYLROHQFLDGHJpQHURFRQWHPSODGDVHQ
HVWD/H\2UJiQLFDORVSURWRFRORVVDQLWDULRVVHUHPLWHQ
D$OD$XWRULGDGVDQLWDULD
E$ORV7ULEXQDOHVFRUUHVSRQGLHQWHV
F$OD$XWRULGDGJXEHUQDWLYD
(QWUHODVPHGLGDVTXHSUHYpHO3ODQDTXHVHUHILHUHODSUHJXQWDDQWHULRU
VHSXHGHQFLWDU
D0HGLGDVFRQWUDOD9LROHQFLDGH*pQHURHQOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR
E0HGLGDVSDUDOXFKDUFRQWUDODSXEOLFLGDGTXHFUHHXQDLPDJHQHVWHUHRWLSDGDGHOD
PXMHU
6HJ~QOD2UGHQ$38GHGHPDU]R
D(QODFRPSRVLFLyQGHORVWULEXQDOHV\GHODVFRPLVLRQHVSHUPDQHQWHVGHVHOHFFLyQ
SDUD HO DFFHVR GH ODV SHUVRQDV DO HPSOHR S~EOLFR VH SURFXUDUi OD SDULGDG HQWUH DPERV
VH[RV
E/D6HFUHWDUtD*HQHUDOSDUDOD$GPLQLVWUDFLyQ3~EOLFDSUHYLDQHJRFLDFLyQFRQODVFHQ
WUDOHVVLQGLFDOHVHVWDEOHFHUiXQDPRGDOLGDGHVSHFtILFDGHMRUQDGDDWLHPSRSDUFLDOFRQOD
FRQVLJXLHQWHGLVPLQXFLyQUHWULEXWLYDSDUDFRQFLOLDUODYLGDODERUDO\IDPLOLDU
F(O0LQLVWHULRGH$GPLQLVWUDFLRQHV3~EOLFDVFUHDUiXQSUHPLRSDUDHOPHMRUSURJUDPD
VREUH,JXDOGDGGHODPXMHUHQOD$GPLQLVWUDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QHO7UDWDGRGHOD8QLyQ(XURSHDFDGD(VWDGRPLHPEURJDUDQWL]DUiOD
DSOLFDFLyQGHO3ULQFLSLRGH
D,JXDOGDGGHDFFHVRDOHPSOHR
E,JXDOGDGHQODVFRQGLFLRQHVGHWUDEDMR
F,JXDOGDGGHUHWULEXFLyQHQWUHWUDEDMDGRUHV\WUDEDMDGRUDVSDUDXQPLVPRWUDEDMRR
SDUDXQWUDEDMRGHLJXDOYDORU
6HJ~QOD2UGHQ$38GHGHPDU]RDTXLpQLQFXPEHODUHDOL]D
FLyQGHXQHVWXGLRSDUDUHGXFLUODWHPSRUDOLGDG\SUHFDULHGDGHQHOHPSOHRS~EOLFR"
D$O,QVWLWXWRGHOD0XMHU
E$O2EVHUYDWRULRVREUHOD,JXDOGDGGH2SRUWXQLGDGHV
F$OD'LUHFFLyQ*HQHUDOGHOD)XQFLyQ3~EOLFD
&RPRFRQVHFXHQFLDGHOD/H\GH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH
*pQHURHQUHODFLyQFRQODIXQFLyQS~EOLFDHVFRUUHFWRDILUPDUTXH
D/DIXQFLRQDULDRHOIXQFLRQDULRYtFWLPDGHGLFKDYLROHQFLDWHQGUiGHUHFKRDODUHGXF
FLyQRUHRUGHQDFLyQGHVXWLHPSRGHWUDEDMR
E/DIXQFLRQDULDRHOIXQFLRQDULRYtFWLPDGHGLFKDYLROHQFLDWHQGUiGHUHFKRDODPRYL
OLGDGJHRJUiILFDHQUHODFLyQFRQVXWUDEDMR
F/DVDXVHQFLDVWRWDOHVRSDUFLDOHVDOWUDEDMRPRWLYDGDVSRUGLFKDYLROHQFLDVHFRQVL
GHUDQMXVWLILFDGDV
/D2UGHQ35(GHGHPDU]RSUHYp
D4XHORVMXUDGRVTXHFRQFHGDQSUHPLRVQDFLRQDOHVHQGLVFLSOLQDVFLHQWtILFDV\GHSRU
WLYDVWHQJDQFRPSRVLFLyQSDULWDULD
E/DDGRSFLyQGHPHGLGDVSDUDIRPHQWDUODLQFRUSRUDFLyQGHODPXMHUDORV&XHUSRV\
)XHU]DVGH6HJXULGDGGHO(VWDGR
F4XHODVHVWDGtVWLFDVS~EOLFDVFRQWHQJDQORVGDWRVGLVWULEXLGRVSRUVH[RSDUDIDFLOLWDU
ODLQIRUPDFLyQVREUHODVLWXDFLyQGHODPXMHUHQORVGLVWLQWRViPELWRVREMHWRGHHVWXGLR
4XpOH\UHJXODOD3URPRFLyQGHOD$XWRQRPtD3HUVRQDO\$WHQFLyQDODV
SHUVRQDVHQVLWXDFLyQGHGHSHQGHQFLD"
D/D/H\GHGHGLFLHPEUH
E/D/H\GHGHGLFLHPEUH
F/D/H\GHGHGLFLHPEUH
/DV 2ULHQWDFLRQHV SUiFWLFDV SDUD ODV FRQYHUVDFLRQHV FRQ SHUVRQDV FRQ
GpILFLWYLVXDOVRQ
D7UDWDUGHFRORFDUVHVLHPSUHGHQWURGHVXFDPSRYLVXDOHYLWDUVLWXDUDODSHUVRQD
IUHQWHDODIXHQWHGHOX]\UHVSHWDUVXWLHPSRGHDGDSWDFLyQDORVFDPELRVGHOX]
E7UDWDUGHFRORFDUVHVLHPSUHGHQWURGHVXFDPSRYLVXDOVLWXDUDODSHUVRQDIUHQWHD
ODIXHQWHGHOX]\UHVSHWDUVXWLHPSRGHDGDSWDFLyQDORVFDPELRVGHOX]
F7UDWDUGHFRORFDUVHVLHPSUHIXHUDGHVXFDPSRYLVXDOVLWXDUDODSHUVRQDIUHQWHDOD
IXHQWHGHOX]\UHVSHWDUVXWLHPSRGHDGDSWDFLyQDORVFDPELRVGHOX]

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QDSHUVRQDTXHKDWHQLGRXQDFFLGHQWHFHUHEURYDVFXODU
D1RVXHOHWHQHUJUDYHVSUREOHPDVDXGLWLYRVSHURXWLOL]DXQDSUyWHVLVGHYR]WDUWDPX
GHDRWLHQHRWURWLSRGHGLVFDSDFLGDGGHOKDEODSXHGHUHVXOWDUGLItFLOGHFRPSUHQGHU
E6XHOHWHQHUJUDYHVSUREOHPDVDXGLWLYRVXWLOL]DXQDSUyWHVLVGHYR]WDUWDPXGHDR
WLHQHRWURWLSRGHGLVFDSDFLGDGGHOKDEODUHVXOWDIiFLOGHFRPSUHQGHU
F 6XHOH WHQHU JUDYHV SUREOHPDV DXGLWLYRV XWLOL]D XQD SUyWHVLV GHYR]WDUWDPXGHD R
WLHQHRWURWLSRGHGLVFDSDFLGDGGHOKDEODSXHGHUHVXOWDUGLItFLOGHFRPSUHQGHU
6HJ~QHO5HDO'HFUHWRGHGHPDU]RVHFRQVLGHUDQPHGLRV
SUHIHUHQWHVGHUHODFLyQFRQORVFLXGDGDQRVTXHGHEHQFXPSOLUODVFRQGLFLRQHVGH
DFFHVLELOLGDG
D2ILFLQDVGH$WHQFLyQDO&LXGDGDQR
E2ILFLQDVGH$WHQFLyQDO&LXGDGDQR\ODV&DUWDVGH6HUYLFLRV
F2ILFLQDVGH$WHQFLyQDO&LXGDGDQR\ORV0RGHORVQRUPDOL]DGRV
6HJ~QOD/H\GHGHGLFLHPEUHODDFWXDFLyQGHOD$GPLQLVWUD
FLyQ*HQHUDOGHO(VWDGRDVHJXUDUiDORVFLXGDGDQRVFRQGLVFDSDFLGDGODHIHFWLYLGDG
GHVXVGHUHFKRVHQVXVUHODFLRQHVFRQOD$GPLQLVWUDFLyQPHGLDQWH
D /D DFFLyQ SRVLWLYD SDUD FRPSHQVDU ODV GHVYHQWDMDV TXH HVWRV FLXGDGDQRV HQ VXV
UHODFLRQHVFRQOD$GPLQLVWUDFLyQSXGLHUDQSUHVHQWDU
E/DDFFLyQSRVLWLYDSDUDFRPSHQVDUODVYHQWDMDVTXHHVWRVFLXGDGDQRVHQVXVUHODFLR
QHVFRQOD$GPLQLVWUDFLyQSXGLHUDQSUHVHQWDU
F/DDFFLyQQHJDWLYDSDUDFRPSHQVDUODVGHVYHQWDMDVTXHHVWRVFLXGDGDQRVHQVXV
UHODFLRQHVFRQOD$GPLQLVWUDFLyQSXGLHUDQSUHVHQWDU
/DVIXQFLRQDULDVYtFWLPDVGHODYLROHQFLDGHJpQHURFXiQWRWLHPSRPtQLPR
WLHQHQTXHOOHYDUSUHVWDQGRVHUYLFLRSDUDSRGHUVROLFLWDUH[FHGHQFLDSRUHVWHPRWLYR"
D8QDxR
E6HLVPHVHV
F'HVGHHOSULQFLSLRLQGHSHQGLHQWHPHQWHGHOWLHPSRGHVHUYLFLR
'H HQWUH ODV VLJXLHQWHV TXp 8QLGDGHV QR SHUWHQHFHQ D ODV )XHU]DV \
&XHUSRVGH6HJXULGDGGHO(VWDGR"
D(O6HUYLFLRGH$WHQFLyQDOD)DPLOLD
E/DVXQLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ
F(O6HUYLFLRGH$WHQFLyQGHO5HJLVWUR
$TXLpQHVVRQDSOLFDEOHVORVEHQHILFLRVGHOD/H\GH$WHQFLyQD3HUVRQDV
'HSHQGLHQWHV"
D$ORVHVSDxROHV\ORH[WUDQMHURVUHVLGHQWHVOHJDOPHQWHHQ(VSDxD
E$ORVHVSDxROHV\H[WUDQMHURVHQJHQHUDO
F$ORVHVSDxROHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QOD([SRVLFLyQGH0RWLYRVGHOD/H\2UJiQLFDGHGHGL
FLHPEUHGH0HGLGDVGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LROHQFLDGH*pQHURVHSUR
SRQHFRPRXQREMHWLYRSULRULWDULR
D$FWXDUFRQWUDODYLROHQFLDTXHVHHMHUFHVREUHODVPXMHUHVSRUSDUWHGHTXLHQHVVHDQ
RKD\DQVLGRVXVFyQ\XJHVRGHTXLHQHVHVWpQRKD\DQHVWDGROLJDGRVDHOODVSRUUHODFLR
QHVVLPLODUHVGHDIHFWLYLGDGDXQVLQFRQYLYHQFLD
E)RUWDOHFHUHOPDUFRSHQDO\SURFHVDOGHSURWHFFLyQDODVYtFWLPDVGHHVDYLROHQFLD
F/DVGRVUHVSXHVWDVVRQYHUGDGHUDV
/RVSURJUDPDVGLULJLGRVDIRUPDUVXILFLHQWHPHQWHDODPXMHUPDOWUDWDGDSDUD
TXHSXHGDYDOHUVHSRUVtPLVPDHLQWHJUDUVHHQHOPHUFDGRODERUDOVHHVWDEOHFHQ
D3RUHO0LQLVWHULRGH7UDEDMRH,QPLJUDFLyQ
E3RUOD'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHUR
F3RUHO,QVWLWXWRGHOD0XMHU
(QTXpHWDSDGHOiPELWRHGXFDWLYRVHGHVDUUROODUiHQHODOXPQDGRODFD
SDFLGDGSDUDUHODFLRQDUVHFRQORVGHPiVGHIRUPDSDFtILFD\SDUDFRQRFHUYDORUDU
\UHVSHWDUODLJXDOGDGGHRSRUWXQLGDGHVGHKRPEUHV\PXMHUHV"
D(QOD(GXFDFLyQ3ULPDULD
E(QOD(GXFDFLyQ6HFXQGDULD2EOLJDWRULD
F(QHO%DFKLOOHUDWR
/DV HPSUHVDV TXH IRUPDOLFHQ FRQWUDWRV GH LQWHULQLGDG SDUD VXSOLU D ODV
YtFWLPDVGHODYLROHQFLDGHJpQHURSRGUiEHQHILFLDUVHGHXQDERQLILFDFLyQTXHFRQ
ODVGLVSRVLFLRQHVOHJDOHVSRGUiQVHU
D'HO
E'HO
F'HO
/DVLWXDFLyQHQTXHVHHQFXHQWUDXQDSHUVRQDTXHVHDKD\DVLGRRSX
GLHUDVHUWUDWDGDHQDWHQFLyQDVXVH[RGHPDQHUDPHQRVIDYRUDEOHTXHRWUDHQ
VLWXDFLyQFRPSDUDEOHHVHOFRQFHSWROHJDOGH
D'LVFULPLQDFLyQGLUHFWD
E'LVFULPLQDFLyQLQGLUHFWD
F$FRVRVH[XDO
/D /H\ GH GH GLFLHPEUH GH ,JXDOGDG GH 2SRUWXQLGDGHV QR
GLVFULPLQDFLyQ\DFFHVLELOLGDGXQLYHUVDOGHSHUVRQDVFRQGLVFDSDFLGDGHVWiFRP
SXHVWDSRU
D8Q7tWXOR3UHOLPLQDU\GRV7tWXORVPiVGLHFLVpLV'LVSRVLFLRQHV$GLFLRQDOHVGRV'LV
SRVLFLRQHV7UDQVLWRULDV\QXHYH'LVSRVLFLRQHV)LQDOHV
E6HLV7tWXORVFXDWUR'LVSRVLFLRQHV$GLFLRQDOHVXQD7UDQVLWRULD\RWUD)LQDO
F1DGDGHORDQWHULRUHVFRUUHFWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QWUHORVWUHVQLYHOHVGH3URWHFFLyQGHO6LVWHPDSDUDOD$XWRQRPtD\$WHQ
FLyQDOD'HSHQGHQFLDHQFXiOGHHOORVVHGLFHTXH/DILQDQFLDFLyQS~EOLFDGHHVWH
QLYHO GH 3URWHFFLyQ FRUUHUi D FDUJR GH OD $GPLQLVWUDFLyQ *HQHUDO GHO (VWDGR TXH
ILMDUiDQXDOPHQWHORVUHFXUVRVHFRQyPLFRVHQOD/H\GH3UHVXSXHVWRV*HQHUDOHV
GHO(VWDGR
D(QHOSULPHUQLYHO
E(QHOVHJXQGRQLYHO
F(QHOWHUFHUQLYHO
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E$XWR
F/D2UJDQL]DFLyQ0XQGLDOGHOD6DOXG
D7UHLQWDGtDV
D7UHLQWDGtDVPiV
E(O-XH]GH3ULPHUD,QVWDQFLDTXHUHVXOWHFRPSHWHQWH
D6HLVPHVHV
F1RQHFHVLWDQSHUtRGRSUHYLRWUDEDMDGR
E(QHO0LQLVWHULRGH6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
D6HWHQWD\GRVKRUDV
F6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
E$UWtFXOR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
EDOHVWDEOHFHUHOGHEHUGHWUDEDMDU\HOGHUHFKRDOWUDEDMR
E$OD6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
D 3URPRYHU \ IRPHQWDU ODV FRQGLFLRQHV TXH SRVLELOLWHQ OD LJXDOGDG VRFLDO HQWUH
DPERVVH[RV
F'LUHFFLyQ*HQHUDO
D6HHMHUFHVREUHODVPXMHUHVSRUTXLHQHVVHDQRKD\DQVLGRVXVFyQ\XJHVRGH
TXLHQHVHVWpQRKD\DQHVWDGROLJDGRVDHOODVSRUUHODFLRQHVVLPLODUHVGHDIHFWLYLGDGDXQ
VLQFRQYLYHQFLD
E3UHYHQLUVDQFLRQDUHUUDGLFDUGLFKDYLROHQFLD\SUHVWDUDVLVWHQFLDDODVYtFWLPDV
D'HODLQVWUXFFLyQ\HQVXFDVRHOIDOORGHODVFDXVDVSHQDOHVHQPDWHULDGH
YLROHQFLDVREUHODPXMHU\GHODVFDXVDVFLYLOHVUHODFLRQDGDVFRQHOOR
E1RLPSHGLUiDORV(VWDGRVPLHPEURVPDQWHQHURDGRSWDUPHGLGDVTXHRIUH]FDQ
YHQWDMDVFRQFUHWDVGHVWLQDGDVDIDFLOLWDUHOVH[RPHQRVUHSUHVHQWDGRHQHOHMHUFLFLRGHDF
WLYLGDGHVSURIHVLRQDOHVRDHYLWDURFRPSHQVDUGHVYHQWDMDVHQVXVFDUUHUDVSURIHVLRQDOHV
D8QPHV
D'HO*RELHUQRGHO(VWDGR
F7RGDVODVUHVSXHVWDVDQWHULRUHVVRQFLHUWDV
F/DVUHVSXHVWDVD\EVRQYHUGDGHUDV
E/RV&RQVHMRV(VFRODUHV
F7RGDVODV&RPXQLGDGHV$XWyQRPDVFRQFRPSHWHQFLDHQODPDWHULD
E,,
E&XDWUR
E/DV&RPXQLGDGHV$XWyQRPDV
D8QD&RQIHUHQFLD6HFWRULDO
D8QDGLUHFFLyQ/HWUDGD~QLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F(O(VWDWXWRGHORV7UDEDMDGRUHV
D'HVHPSOHR
F7RGDVWLHQHQJDUDQWtDVGHHVRVGHUHFKRVLQGHSHQGLHQWHPHQWHGHFXDOTXLHURWUD
FDXVD
D,,,
F$WRGRORDQWHULRUFRQDFUHGLWDFLyQGHODVLWXDFLyQ
E-XVWLILFDGDVHQORVWpUPLQRVGHVXOHJLVODFLyQHVSHFtILFD
D'HO(VWDGR
F7RGRVORVDQWHULRUHV
F(QWRGRVORVDQWHULRUHV
D3UHVLGHQFLDGHO*RELHUQR$GPLQLVWUDFLRQHV3~EOLFDV\'HIHQVD
F8QDQLPLGDG
F(QXQ3URWRFRORHVSHFtILFRSDUDHVWRVFDVRV
D(O
F8Q2EVHUYDWRULRGHOD0XMHU
F/DV&HQWUDOHV6LQGLFDOHV
F&XDOTXLHUDGHORVFDVRVFLWDGRV
F([FHGHQFLDYROXQWDULDSDUDHOFXLGDGRGHORVKLMRV
D,QYHVWLJDFLyQ
E/DV$GPLQLVWUDFLRQHV$XWyQRPDV
D/D6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
E,,,\,,
D(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D,OtFLWD
F'H6DQLGDG3ROtWLFD6RFLDOH,JXDOGDG
E(GXFDFLyQ3ULPDULD
E6DQLWDULR
F7RGRVHOORV
E
F'HO(VWDGR
E/DSDUWLFLSDFLyQHQODWRPDGHGHFLVLRQHV
D(QHODxR
E(GXFDFLyQSXEOLFLGDG\VDQLGDG
F(O-XH]GH9LROHQFLDVREUHOD0XMHU\HQVXFDVRHO-XH]GH*XDUGLD
F'LFKD2UGHQVHUiDFRUGDGDHQYLUWXGGHXQDFWRMXGLFLDO
D'HRILFLRDLQVWDQFLDGHODYtFWLPDRGHO0LQLVWHULR)LVFDO
DKRUDV
F/D6HFUHWDUtDGH(VWDGRGH-XVWLFLD
D/RVDFWRVGHYLROHQFLDItVLFD\SVLFROyJLFDVREUHODYtFWLPD
E/DLQFRUSRUDFLyQGHODPXMHUDORVyUJDQRVGHGLUHFFLyQGHODVHPSUHVDV
D'HUHFKRDYDFDFLRQHVUHWULEXLGDVGXUDQWHHOWLHPSRTXHORVyUJDQRVGHDVLVWHQ
FLDHVWLPHQRSRUWXQR
F/HFRUUHVSRQGHHODVHVRUDPLHQWRODHYDOXDFLyQODHODERUDFLyQGHHVWXGLRVH
LQIRUPHV\SURSXHVWDVGHDFWXDFLyQHQPDWHULDGHYLROHQFLDVREUHODPXMHU
D(O*RELHUQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ83$3

F/D8QLGDGGH3UR[LPLGDG\GH5HODFLRQHV&LXGDGDQDV
E/RFRQVWLWX\HOD6DODGH&RRUGLQDFLyQ2SHUDWLYDGHOD&RPLVDUtD*HQHUDOGH
6HJXULGDG&LXGDGDQDFRQXQQ~PHURGHWHOpIRQRGHFDUiFWHUJUDWXLWRDWHQGLGRSHUPDQHQ
WHPHQWHGXUDQWHODVKRUDV
E8Q,QVSHFWRU-HIHXQIXQFLRQDULRGHOD(VFDOD(MHFXWLYD\GRVIXQFLRQDULRVGH
OD(VFDODGH6XELQVSHFFLyQ
F(ODERUDUXQLQIRUPHDQXDOVREUHODHYDOXDFLyQGHODYLROHQFLDHMHUFLGDVREUHOD
PXMHU
D
F6RQFRUUHFWDVODVUHVSXHVWDVD\E
E6HLQFOXLUiQODVPHGLGDVFDXWHODUHVGHQDWXUDOH]DFLYLO\SHQDO
D(O
E(ODxR
E(O
F*DUDQWL]DORVGHUHFKRVHQHOiPELWRODERUDO\IXQFLRQDULDOGHODVWUDEDMDGRUDV\
IXQFLRQDULDVTXHVXIUDQYLROHQFLDGHJpQHUR
E
F6HDGRSWDUiQODVPHGLGDVQRUPDWLYDVQHFHVDULDVSDUDKDFHUHIHFWLYDODH[FH
GHQFLDFRQUHVHUYDGHSOD]DSRUYLROHQFLDGHJpQHUR
F(O2EVHUYDWRULR(VWDWDOGH9LROHQFLDVREUHOD0XMHUWHQGUiUDQJRGH'LUHFFLyQ
*HQHUDO
F&UHDHO&RQVHMR6HFWRULDOGH0XMHUHV9tFWLPDVGH9LROHQFLDGH*pQHUR
D+DEUiXQRRPiVHQFDGD3DUWLGR-XGLFLDO
F/DFUHDFLyQGHXQD8QLGDGHVSHFtILFD0XMHU\6DQLGDGGHVWLQDGDDDQDOL]DUOD
VLWXDFLyQGHODVPXMHUHVHQHODFFHVRDODVLQVWLWXFLRQHVVDQLWDULDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/DYLROHQFLDGHJpQHUR
D/D/H\GHGHGLFLHPEUH
D,,,
E
E'HFLVLyQ
F7RGRVORVDQWHULRUHV
E(O&RPLWp&RQVXOWLYRSDUDOD,JXDOGDGHQWUHKRPEUHV\PXMHUHV
E(OGHPDU]RGH
D$QXDO
E/D2UGHQGH3URWHFFLyQRH[FHSFLRQDOPHQWHHOLQIRUPHGHO0LQLVWHULR)LVFDO
E(VXQDFLUFXQVWDQFLDDJUDYDQWHGHODUHVSRQVDELOLGDGFULPLQDO
D/RVTXHHQHOHMHUFLFLRGHVXVDFWLYLGDGHVSURIHVLRQDOHVRHPSUHVDULDOHVGHQLH
JXHQDXQDSHUVRQDXQDSUHVWDFLyQDODTXHWHQJDGHUHFKRSRUUD]yQGHVXVH[RRGHVX
RULHQWDFLyQVH[XDO
D6t
D7tWXOR,
E,,
F6tHVWiQOHJLWLPDGDVWRGDVODVDQWHULRUHV
E(GXFDWLYR
E$ORV7ULEXQDOHVFRUUHVSRQGLHQWHV
D0HGLGDVFRQWUDOD9LROHQFLDGH*pQHURHQOD$GPLQLVWUDFLyQ*HQHUDOGHO(VWDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E/D6HFUHWDUtD*HQHUDOSDUDOD$GPLQLVWUDFLyQ3~EOLFDSUHYLDQHJRFLDFLyQFRQ
ODVFHQWUDOHVVLQGLFDOHVHVWDEOHFHUiXQDPRGDOLGDGHVSHFtILFDGHMRUQDGDDWLHPSRSDUFLDO
FRQODFRQVLJXLHQWHGLVPLQXFLyQUHWULEXWLYDSDUDFRQFLOLDUODYLGDODERUDO\IDPLOLDU
D,JXDOGDGGHDFFHVRDOHPSOHR
F$OD'LUHFFLyQ*HQHUDOGHOD)XQFLyQ3~EOLFD
F/DVDXVHQFLDVWRWDOHVRSDUFLDOHVDOWUDEDMRPRWLYDGDVSRUGLFKDYLROHQFLDVH
FRQVLGHUDQMXVWLILFDGDV
F4XHODVHVWDGtVWLFDVS~EOLFDVFRQWHQJDQORVGDWRVGLVWULEXLGRVSRUVH[RSDUD
IDFLOLWDU OD LQIRUPDFLyQ VREUH OD VLWXDFLyQ GH OD PXMHU HQ ORV GLVWLQWRV iPELWRV REMHWR GH
HVWXGLR
E/D/H\GHGHGLFLHPEUH
D7UDWDUGHFRORFDUVHVLHPSUHGHQWURGHVXFDPSRYLVXDOHYLWDUVLWXDUDODSHUVR
QDIUHQWHDODIXHQWHGHOX]\UHVSHWDUVXWLHPSRGHDGDSWDFLyQDORVFDPELRVGHOX]
F6XHOHWHQHUJUDYHVSUREOHPDVDXGLWLYRVXWLOL]DXQDSUyWHVLVGHYR]WDUWDPXGHD
RWLHQHRWURWLSRGHGLVFDSDFLGDGGHOKDEODSXHGHUHVXOWDUGLItFLOGHFRPSUHQGHU
F2ILFLQDVGH$WHQFLyQDO&LXGDGDQR\ORV0RGHORVQRUPDOL]DGRV
D/DDFFLyQSRVLWLYDSDUDFRPSHQVDUODVGHVYHQWDMDVTXHHVWRVFLXGDGDQRVHQ
VXVUHODFLRQHVFRQOD$GPLQLVWUDFLyQSXGLHUDQSUHVHQWDU
F(O6HUYLFLRGH$WHQFLyQGHO5HJLVWUR
F$ORVHVSDxROHV
D$FWXDUFRQWUDODYLROHQFLDTXHVHHMHUFHVREUHODVPXMHUHVSRUSDUWHGHTXLHQHV
VHDQRKD\DQVLGRVXVFyQ\XJHVRGHTXLHQHVHVWpQRKD\DQHVWDGROLJDGRVDHOODVSRU
UHODFLRQHVVLPLODUHVGHDIHFWLYLGDGDXQVLQFRQYLYHQFLD
F3RUHO,QVWLWXWRGHOD0XMHU
E(QOD(GXFDFLyQ6HFXQGDULD2EOLJDWRULD
F'HO
D'LVFULPLQDFLyQGLUHFWD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D8Q7tWXOR3UHOLPLQDU\GRV7tWXORVPiVGLHFLVpLV'LVSRVLFLRQHV$GLFLRQDOHVGRV
'LVSRVLFLRQHV7UDQVLWRULDV\QXHYH'LVSRVLFLRQHV)LQDOHV
D(QHOSULPHUQLYHO

32/,&$1$&,21$/(6&$/$%6,&$
%&LHQFLDV6RFLDOHV
7(671
'(5(&+26+80$126'(&/$5$&,181,9(56$/'('(5(&+26
+80$126&219(1,2(8523(23$5$/$3527(&&,1'(/26'(5(&+26
+80$126</,%(57$'(6)81'$0(17$/(635272&2/2)$&8/7$7,92
'(/$&219(1&,1&2175$/$725785$
4XpVLJQLILFyODILUPDGHOD'HFODUDFLyQGHORV'HUHFKRV+XPDQRV"
D(OFRPLHQ]RGHODGHPRFUDFLDHQWRGRVORVSDtVHV
E/DREOLJDWRULHGDGGHVXFXPSOLPLHQWRHQWRGRVORVSDtVHV
F/DLQWHUQDFLRQDOL]DFLyQGHHVWRVGHUHFKRV
'yQGH VH ILUPy HO &RQYHQLR (XURSHR SDUD OD 3URWHFFLyQ GH ORV 'HUHFKRV
+XPDQRV\GHODV/LEHUWDGHV)XQGDPHQWDOHV"
D3DUtV
E*LQHEUD
F5RPD
4XpQXHYRVGHUHFKRVVHGHULYDQGHOD'HFODUDFLyQ8QLYHUVDOGHORV'HUH
FKRV+XPDQRV"
D'HUHFKRVGHO&LXGDGDQR
E'HUHFKRDODYLGD
F'HUHFKRVGHODVPLQRUtDVPXMHUHVQLxRV
6HxDOHDTXHOODRSFLyQTXHQRVHDXQDLQWHQFLyQGHORVILUPDQWHVFXDQGRVH
UHGDFWyOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
D4XHWRGRVORVSXHEORV\WHUULWRULRVUHVSHWHQHVRVGHUHFKRV
E3URPRYHUHOGHVDUUROORGHUHODFLRQHVDPLVWRVDVHQWUHQDFLRQHV
F/DVGRVODVDQWHULRUHVIXHURQLQWHQFLRQHVGHORVILUPDQWHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVGHUHFKRVKXPDQRVVRQLQDOLHQDEOHVSDUDWRGRPLHPEURGHODIDPLOLDKX
PDQD4XpDOFDQFHWLHQHHVWDIUDVH"
D4XHQRVHQRVSXHGHGHVSRVHHUGHHOORV
E4XHQRSUHVFULEHQQXQFD
F4XHVRQXQLYHUVDOHV
/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVVXSRQH
D8QRVSULQFLSLRVEiVLFRVGHHVWRVGHUHFKRVSDUDTXHFDGD(VWDGRORVLQWHUSUHWH\DFR
PRGHDVXIRUPD
E8QDFRQFHSFLyQFRP~QSRUSDUWHGHWRGRVORV(VWDGRVGHHVWRVGHUHFKRV
F(OFRPSURPLVRGHORV(VWDGRVILUPDQWHVSDUDDXQDUHVIXHU]RVFRPXQHVDILQGHREOL
JDUDWRGRVORVGHPiVDVXLPSODQWDFLyQ
&XiQWDVJHQHUDFLRQHVGH'HUHFKRV+XPDQRVH[LVWHQKDVWDODDFWXDOLGDG"
D8QD
E'RV
F7UHV
(QWUH OD 'HFODUDFLyQ 8QLYHUVDO GH ORV 'HUHFKRV +XPDQRV \ ORV 3DFWRV
,QWHUQDFLRQDOHV GH 'HUHFKRV &LYLOHV \ 3ROtWLFRV DVt FRPR GH 'HUHFKRV (FRQy
PLFRV6RFLDOHV\&XOWXUDOHVWDPELpQLPSXOVDGRVSRUOD218ODGLIHUHQFLDIXQ
GDPHQWDOHV
D4XHORV3DFWRVQRVRQYLQFXODQWHVPLHQWUDVTXHOD'HFODUDFLyQVtORHV
E4XHORV3DFWRVREOLJDQDVXVILUPDQWHVDVXFXPSOLPLHQWRPLHQWUDVTXHOD'HFODUD
FLyQHVXQDJXtDGHLQWHQFLRQHV
F1RH[LVWHQGLIHUHQFLDVDSUHFLDEOHVQLGHFRQWHQLGRQLGHREOLJDWRULHGDG
1RH[LVWHHQOD2UJDQL]DFLyQGHODV1DFLRQHV8QLGDVHOVLJXLHQWHyUJDQRUH
ODFLRQDGRFRQODSURWHFFLyQGHORVGHUHFKRVKXPDQRV
D/D&RPLVLyQGH'HUHFKRV+XPDQRV
E(O&RQVHMRGH'HUHFKRV+XPDQRV
F(O&RPLWpGH'HUHFKRV+XPDQRV
(O7H[WRILUPDGRSRUOD$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDVHQUHODFLyQ
FRQORVGHUHFKRVGHOKRPEUHVHOODPD
D7UDWDGR8QLYHUVDOGHORV'HUHFKRV+XPDQRV
E3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV+XPDQRV
F'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O$OWR&RPLVLRQDGRSDUDORV'HUHFKRV+XPDQRVHVXQDILJXUDTXHUHSUH
VHQWDUHVSHFWRDHVWRV~OWLPRVD
D(O&RQVHMRGH(XURSD
E/D27$1
F/D218
1RWLHQHIXHU]DMXUtGLFDDXQTXHVtPRUDO\VXTXHEUDQWRQRLPSOLFDYLRODFLyQ
GHO'HUHFKR,QWHUQDFLRQDO
D8QD'HFODUDFLyQ
E8Q7UDWDGR
F8Q&RQYHQLR
(OQ~PHURGHSDtVHVILUPDQWHVGHOWH[WRVREUHORV'HUHFKRV+XPDQRVIXHGH
D
E
F
/RV'HUHFKRV&LYLOHV\3ROtWLFRVSHUWHQHFHQD
D/D3ULPHUD*HQHUDFLyQGH'HUHFKRV+XPDQRV
E/RV'HUHFKRVUHQXQFLDEOHV
F'HUHFKRVSRVLWLYRV
&yPRVHFRQRFHDOFRQMXQWRIRUPDGRSRUOD'HFODUDFLyQ8QLYHUVDOGHORV
'HUHFKRV+XPDQRVHO3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\3ROtWLFRV\HO
3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV(FRQyPLFRV6RFLDOHV\&XOWXUDOHV"
D&DUWD,QWHUQDFLRQDOGHORV'HUHFKRV+XPDQRV
E'HFODUDFLyQGHORV'HUHFKRVGHO+RPEUH\GHO&LXGDGDQR
F&DUWDGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHV
/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVFRQVWDGH
DDUWtFXORV
EDUWtFXORV
FDUWtFXORV
/D9LGDOD6HJXULGDG,QGLYLGXDOOD/LEHUWDGGH3HQVDPLHQWRVRQGHUHFKRV
KXPDQRVFDOLILFDGRVFRPR
D'HUHFKRVGH6HJXQGD*HQHUDFLyQ
E'HUHFKRV&LYLOHV
F'HUHFKRVVRFLDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVQRVHFRQWHPSODHO
VLJXLHQWHGHUHFKR
D'HUHFKRGHSDUWLFLSDFLyQHQHOJRELHUQRGHVXSDtV
E'HUHFKRDFDVDUVH\IRUPDUXQDIDPLOLD
F/RVGRVDQWHULRUHVHVWiQUHFRJLGRVHQHVHGRFXPHQWR
6HxDOH HQWUH ORV VLJXLHQWHV XQ GHUHFKR KXPDQR FRQVLGHUDGR GH WHUFHUD
JHQHUDFLyQ
D'HUHFKRDXQPHGLRDPELHQWHVDQR
E'HUHFKRDSDUWLFLSDUHQODYLGDFXOWXUDOGHVXSDtV
F'HUHFKRDODSURSLHGDGSULYDGD
/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVVHILUPyHQ
D*LQHEUD
E1XHYD<RUN
F3DUtV
&XiOHVGHORVVLJXLHQWHVHVXQ7H[WROHJDODQWHULRUDOD'HFODUDFLyQ8QLYHU
VDOGHORV'HUHFKRV+XPDQRV"
D&RQYHQFLyQVREUHORV'HUHFKRV3ROtWLFRVGHOD0XMHU
E&RQYHQFLyQVREUHOD7RUWXUD\RWURVWUDWRVRSHQDVFUXHOHVLQKXPDQDVRGHJUDGDQWHV
F1LQJXQRHVDQWHULRUDOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
(OGHUHFKRDODOLEHUWDG\DODVHJXULGDGUHFRQRFLGRHQHO&RQYHQLR(XURSHR
SDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHVLPSLGH
D3ULYDUGHVXOLEHUWDGDXQPHQRUHQWRGRFDVR
E3ULYDUGHVXOLEHUWDGDXQDSHUVRQDFRQXQDHQIHUPHGDGFRQWDJLRVDSDUDHYLWDUVX
SURSDJDFLyQ
F1LQJXQDGHODVUHVSXHVWDVDQWHULRUHVHVFLHUWD
(OSOD]RVHxDODGRHQHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUH
FKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHVSDUDLQIRUPDUDXQDSHUVRQDGHWHQLGD
GHOPRWLYRGHVXGHWHQFLyQHV
D'HGRFHKRUDV
E(QHOSOD]RPiVEUHYHSRVLEOH
F(QHOPLVPRLQVWDQWHGHODSULYDFLyQGHOLEHUWDG
(OGHUHFKRGHVLQGLFDFLyQUHFRQRFLGRHQHO&RQYHQLR(XURSHRSDUDOD3UR
WHFFLyQ GH ORV 'HUHFKRV +XPDQRV \ /LEHUWDGHV )XQGDPHQWDOHV DGPLWH SRVLEOHV
UHVWULFFLRQHVDPLHPEURVGH
D/DV)XHU]DV$UPDGDV
E/D3ROLFtD
F/RVGRVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpWLSRGHGHUHFKRVFRQIRUPDQODOODPDGD7HUFHUD*HQHUDFLyQGH'HUH
FKRV+XPDQRV"
D/RVGHUHFKRVSROtWLFRV
E/RVGHUHFKRVHFRQyPLFRV
F/RVGHUHFKRVEDVDGRVHQSULQFLSLRVGHVROLGDULGDG
(O&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHU
WDGHV)XQGDPHQWDOHVSUHYpODGHURJDFLyQGHDOJXQRVGHUHFKRVUHFRQRFLGRVHQHO
PLVPRHQHOFDVRGH
D(VWDGRVH[FHSFLRQDOHVTXHDPHQDFHQODYLGDGHODQDFLyQ
E(OHFFLRQHVGHPRFUiWLFDV
F6LWXDFLRQHVGHLQFUHPHQWRGHODLQVHJXULGDGFLXGDGDQD
(QHOFDVRGHTXHDOJXQDGHODVQDFLRQHVILUPDQWHVGHO&RQYHQLR(XURSHR
SDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHVGHFLGLHVH
GHURJDUODVREOLJDFLRQHVSUHYLVWDVDTXLpQKDEUtDGHGDUFXHQWD"
D$O3UHVLGHQWHGHOD&RPLVLyQ(XURSHD
E$O3UHVLGHQWHGHO7ULEXQDOGH-XVWLFLD(XURSHR
F$O6HFUHWDULR*HQHUDOGHO&RQVHMRGH(XURSD
([LVWHQDOJXQRVGHUHFKRVLQGHURJDEOHVDXQHQFLUFXQVWDQFLDVH[FHSFLRQD
OHVHQHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHU
WDGHV)XQGDPHQWDOHV"
D1RWRGRVHOORVVRQVXVFHSWLEOHVGHGHURJDFLyQHQFLUFXQVWDQFLDVH[FHSFLRQDOHV
E7RGRVORVGHUHFKRVIXQGDPHQWDOHVVRQLQGHURJDEOHV
F/DSURKLELFLyQGHODHVFODYLWXGGHWRUWXUD\HOGHUHFKRDODYLGDQRVHSXHGHQGHURJDU
7LHQH HO PHQRU GH HGDG UHFRQRFLGRV H[SOtFLWDPHQWH VXV GHUHFKRV HQ HO
&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV)XQ
GDPHQWDOHV"
D1R
E6tHQHODUWtFXOR
F([LVWHQWUHVDUWtFXORVTXHUHFRQRFHQVXVGHUHFKRV
/DSD]ODVROLGDULGDGHQWUHSXHEORVHOSDWULPRQLRFRP~QGHODKXPDQLGDG
VRQGHUHFKRVGHQRPLQDGRV
D&LYLOHV
E'H7HUFHUD*HQHUDFLyQ
F6RFLDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(Q TXp IHFKD SURFODPy OD $VDPEOHD *HQHUDO GH ODV 1DFLRQHV 8QLGDV OD
'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV"
DGHDJRVWRGH
EGHGLFLHPEUHGH
FGHMXOLRGH
(O&RQYHQLR(XURSHRGHGHUHFKRVHFRQyPLFRVVRFLDOHV\FXOWXUDOHVVHFR
QRFHFRPR
D&DUWDGH7XUtQ
E7UDWDGRGH5RPD
F&RQYHQFLyQGH*LQHEUD
'HORVVLJXLHQWHVFXiOHVHOGRFXPHQWRPiVYHWHUDQR"
D&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV
E&RQYHQFLyQFRQWUDOD7RUWXUD\RWURVWUDWRVFUXHOHVLQKXPDQRV\GHJUDGDQWHV
F3DFWR,QWHUQDFLRQDOGH'HUHFKRV&LYLOHV\3ROtWLFRV
$TXLpQHVUHFRQRFHHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUH
FKRV+XPDQRV\GHODV/LEHUWDGHV)XQGDPHQWDOHVORVGHUHFKRV\OLEHUWDGHVGHIL
QLGRVHQGLFKRWH[WR"
D$WRGDSHUVRQDGHSHQGLHQWHGHODMXULVGLFFLyQGHFDGDSDtVILUPDQWH
E$ORVFLXGDGDQRVQDFLGRVHQORVSDtVHVILUPDQWHV
F$ORVFLXGDGDQRVTXHUHVLGDQHQORVSDtVHVILUPDQWHV
(O7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRVHV
D8QPHFDQLVPRGHSURWHFFLyQGHGHUHFKRVKXPDQRVDQLYHOHXURSHR
E/DPiVDOWDLQVWDQFLDMXULVGLFFLRQDOSDUDWRGD(XURSD
F8QyUJDQRMXULVGLFFLRQDOVXEVLGLDULR\GHSHQGLHQWHGHO7ULEXQDO,QWHUQDFLRQDOGH/D
+D\D
(O 7ULEXQDO (XURSHR GH 'HUHFKRV +XPDQRV SXHGH DGPLWLU UHFODPDFLRQHV
SURYHQLHQWHVGH
D'HQXQFLDQWHVQRDQyQLPRV
E'HQXQFLDQWHVDQyQLPRV\QRDQyQLPRV
F(VWDGRVSDUWHVGH&RQYHQLR\QRGHFLXGDGDQRV
(VWiQLQFOXLGRVGHQWURGHOFRQFHSWRGHWRUWXUDRGHSHQDVRWUDWRVFUXHOHV
LQKXPDQRVRGHJUDGDQWHV
D/DVOHVLRQHVFDXVDGDVDXQDSHUVRQDHQXQDUH\HUWD
E/RVH[SHULPHQWRVPpGLFRVVLQFRQVHQWLPLHQWRGHODYtFWLPD
F/RVGRVDQWHULRUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D 'HFODUDFLyQ 8QLYHUVDO GH ORV 'HUHFKRV +XPDQRV VHJ~Q FRQVWD HQ VX
3UHiPEXORHV
D'HREOLJDWRULRFXPSOLPLHQWRSDUDWRGRVORVSDtVHVILUPDQWHV
E 'H REOLJDGR FXPSOLPLHQWR SDUD WRGRV ORV SDtVHV TXH DFWXDOPHQWH FRQIRUPDQ ODV
1DFLRQHV8QLGDV
F8QLGHDOFRP~QTXHGHEHLQVSLUDUODVQRUPDVGHWRGRVORVSDtVHV
6HxDOHXQPHFDQLVPRGHSURWHFFLyQFRQWUDODWRUWXUD
D(O6XEFRPLWpGH3URWHFFLyQFRQWUDODWRUWXUD
E/RV0HFDQLVPRV1DFLRQDOHVFRQWUDODWRUWXUD
F$PERVyUJDQRV
$TXp7ULEXQDOUHPLWHOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
HQUHODFLyQFRQORVUHFXUVRVFRQWUDODYLRODFLyQGHDOJXQRVGHORVGHUHFKRVUHFR
QRFLGRVHQHOOD"
D$ORV7ULEXQDOHVLQWHUQDFLRQDOHV
E$ORVWULEXQDOHVQDFLRQDOHVFRPSHWHQWHV
F$O7ULEXQDOGH/D+D\D
(OFDUiFWHUGHXQLYHUVDOLGDGTXHWLHQHOD'HFODUDFLyQ8QLYHUVDOGHORV'HUH
FKRV+XPDQRVLPSOLFDTXH
D6HKDQGHDSOLFDUDWRGRVHUKXPDQRVLQGLVWLQFLyQSRUFDXVDDOJXQD
E6HREOLJDDWRGRVORVSDtVHVGHOPXQGRDVXSURWHFFLyQ
F7RGRVORVSDtVHVGHOPXQGRWLHQHQHQVXV&RQVWLWXFLRQHVLQFOXLGRVHVWRVGHUHFKRV
/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVQRKDFHQLQJXQDPHQ
FLyQHVSHFLDO
D$OGHUHFKRDFDVDUVH\IXQGDUXQDIDPLOLD
E$ORVGHUHFKRVGHOPHQRU
F$OGHUHFKRDVDOLUGHFXDOTXLHUSDtVLQFOXVRGHOSURSLR
/DLQVWLWXFLyQRLQVWLWXFLRQHVSURPRWRUDV\SLRQHUDVGHORV'HUHFKRV+XPD
QRVDQLYHOPXQGLDOHV
D(O&RQVHMRGH(XURSD\ODV1DFLRQHV8QLGDV
E/DV1DFLRQHV8QLGDV\OD8QLyQ(XURSHD
F/DV1DFLRQHV8QLGDV
6HHQWLHQGHDO6XEFRPLWpGHSURWHFFLyQFRQWUDODWRUWXUDFRPR
D/DIXQFLyQIXQGDPHQWDOTXHWLHQHHO3URWRFRORGH3UHYHQFLyQFRQWUDOD7RUWXUD
E8QDKHUUDPLHQWDTXHKDFUHDGRHO3URWRFRORGH3UHYHQFLyQFRQWUDOD7RUWXUD
F$PEDVUHVSXHVWDVVRQFRUUHFWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/D&RPLVLyQGH'HUHFKRV+XPDQRVGHODV1DFLRQHV8QLGDVGHSHQGHGLUHF
WDPHQWHGH
D(O6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
E(&262&
F/D$VDPEOHD*HQHUDO
/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVIXHFRQFUHWDGDHQFXDQ
WRDODREOLJDWRULHGDGGHOFXPSOLPLHQWRGHVXFRQWHQLGRSRUODILUPDGH
D(O3DFWR,QWHUQDFLRQDOGH'HUHFKRV(FRQyPLFRV6RFLDOHV\&XOWXUDOHV
E(O3DFWR,QWHUQDFLRQDOGH'HUHFKRV&LYLOHV\3ROtWLFRV
/D EDVH HQ TXH VH IXQGDPHQWD OD 'HFODUDFLyQ 8QLYHUVDO GH ORV 'HUHFKRV
+XPDQRVHV
D/DSD]HQWUHWRGRVORVSXHEORVGHOPXQGR
E/DQHFHVLGDGGHFRQVHUYDFLyQGHOD1DWXUDOH]D
F/DGLJQLGDGGHODSHUVRQDKXPDQD
&XiQWRWLHPSRGXUDXQDVHVLyQRUGLQDULDGHOD&RPLVLyQGH'HUHFKRV+X
PDQRV"
D6HLVVHPDQDV
E8QDVHPDQD
F8QPHV
/RV3URWRFRORV$GLFLRQDOHVDO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV
'HUHFKRV +XPDQRV \ /LEHUWDGHV )XQGDPHQWDOHV ILUPDGRV \ UDWLILFDGRV KDVWD OD
IHFKDVRQ
D7UHFH
E2QFH
F&DWRUFH
(O&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWD
GHV)XQGDPHQWDOHVFRQVWDGH
DDUWtFXORV
EDUWtFXORV
FDUWtFXORV
(O7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRVHVWiWUDWDGRHQHO&RQYHQLR(X
URSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHVHQ
D6X7tWXOR,,
E6X7tWXOR,,,
F6X7tWXOR,

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHXQGHUHFKRUHFRQRFLGRHQOD&RQYHQFLyQ(XURSHDGH3URWHFFLyQGH
ORV'HUHFKRV+XPDQRV\GHODV/LEHUWDGHV)XQGDPHQWDOHVRHQVXVSURWRFRORV
D/DDEROLFLyQWRWDOGHODSHQDGHPXHUWH
E/DSURKLELFLyQGHSHQDGHSULVLyQSRUGHXGDVHFRQyPLFDV
/DVHGHGHO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRVHVWiHQ
D(VWUDVEXUJR
E3DUtV
F*LQHEUD
3HUPLWHHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV
\/LEHUWDGHV)XQGDPHQWDOHVHQUHODFLyQFRQODOLEHUWDGGHH[SUHVLyQTXHORV(VWD
GRVILUPDQWHVSXHGDQHVWDEOHFHUXQUpJLPHQGHDXWRUL]DFLyQSUHYLDDODVHPSUHVDV
GHUDGLRGLIXVLyQWHOHYLVLyQHWF"
D1RSXHVWRTXHDWHQWDDODOLEHUWDGGHH[SUHVLyQ
E6tORSHUPLWHHLQFOXVRHVWDEOHFHUXQDFHQVXUDSUHYLDGHODLQIRUPDFLyQDFRPXQLFDU
F6tLQFOXVRHVWDEOHFHUUHVWULFFLRQHVRVDQFLRQHVHQUHODFLyQFRQODVHJXULGDGQDFLR
QDOSUHYHQFLyQGHGHOLWRVHWF
(VSDxDKDUDWLILFDGROD&DUWD,QWHUQDFLRQDOGH'HUHFKRV+XPDQRVHOGtD
DGHDJRVWRGH
EGHGLFLHPEUHGH
FGHMXOLRGH
6HxDOHXQDFDUDFWHUtVWLFDTXHSXHGDVHUDSOLFDGDDORV'HUHFKRV+XPDQRV
D1RVRQLQQDWRV
E6RQQHJRFLDEOHV
F6RQSUHYDOHQWHVDRWURVGHUHFKRV
(OGHUHFKRDODYLGDHQUHODFLyQFRQORV'HUHFKRV+XPDQRVSHUWHQHFHDVX
D3ULPHUD*HQHUDFLyQ
E6HJXQGD*HQHUDFLyQ
F7HUFHUD*HQHUDFLyQ
4XpILJXUDRLQVWLWXFLyQVHFUHyHQHODxRUHODFLRQDGDFRQODSURWHF
FLyQGHORV'HUHFKRV+XPDQRV"
D6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
E$OWR&RPLVLRQDGRGHODV1DFLRQHV8QLGDVSDUDORV'HUHFKRV+XPDQRV
F7ULEXQDO,QWHUQDFLRQDOSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OHTXLYDOHQWHHQ(XURSDDO3DFWR,QWHUQDFLRQDOGH'HUHFKRV(FRQyPLFRV
6RFLDOHV\&XOWXUDOHVGHOD218HV
D/D&DUWDGH7XUtQ
E(O7UDWDGRGH1L]D
F/D&RQYHQFLyQGH5RPD
/DVDOWDVSDUWHVFRQWUDWDQWHVGHOD&RQYHQFLyQGH5RPDVHFRPSURPHWHQD
UHVSHWDUORVGHUHFKRVKXPDQRVGHWRGDSHUVRQDEDMRVXMXULVGLFFLyQHQ
D6X3UHiPEXOR
E6XDUWtFXOR
F6X7tWXOR,,,
&RQFDUiFWHURUGLQDULROD&RPLVLyQGH'HUHFKRV+XPDQRVGHODV1DFLRQHV
8QLGDVVHUH~QH
D6HPHVWUDOPHQWH
E$QXDOPHQWH
F%LDQXDOPHQWH
4XpQ~PHURGH(VWDGRVFRPSRQHQOD&RPLVLyQGH'HUHFKRV+XPDQRVGH
ODV1DFLRQHV8QLGDV"
D
E
F
&yPRVHFRQRFHWDPELpQDO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV
'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHV"
D&RQYHQFLyQGH5RPD
E&DUWDGH7XUtQ
F$FXHUGR6FKHQJHQ
(OQ~PHURGHFRPSRQHQWHVGHO&RQVHMRGH'HUHFKRV+XPDQRGHODV1DFLRQHV
8QLGDVHVGH
D
E
F
4XpQRPEUHUHFLELyHODQWHFHGHQWHPiVLQPHGLDWRGHODV2UJDQL]DFLyQGH
ODV1DFLRQHV8QLGDV"
D$OLDQ]DGH&LYLOL]DFLRQHV
E6RFLHGDGGH1DFLRQHV
F/LJDGH1DFLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QTXp7tWXORGHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+X
PDQRV\/LEHUWDGHV)XQGDPHQWDOHVVHHQFXHQWUDQUHFRJLGRVH[SOtFLWDPHQWHHVWRV
GHUHFKRV"
D(QHO7tWXOR,
E(QHO7tWXOR,,
F(QHO7tWXOR,,,
/D UDWLILFDFLyQ GHO &RQYHQLR (XURSHR SDUD OD 3URWHFFLyQ GH ORV 'HUHFKRV
+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHVSRUSDUWHGH(VSDxDVHHIHFWXyHQIHFKD
DGHQRYLHPEUHGH
EGHGLFLHPEUHGH
FGHVHSWLHPEUHGH
'HFXiQWRVWtWXORVFRQVWDHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV
'HUHFKRV+XPDQRV\/LEHUWDGHV)XQGDPHQWDOHV"
D'HFXDWUR
E'HXQ3UHiPEXOR\WUHVWtWXORV
F'HXQ3UHiPEXOR\GRVWtWXORV
8Q&RPLWpGHO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRVORFRQIRUPDQ
D'LH]MXHFHV
E7UHVMXHFHV
F&LQFRMXHFHV
(O Q~PHUR GH MXHFHV TXH FRQIRUPDQ HO 7ULEXQDO (XURSHR GH ORV 'HUHFKRV
+XPDQRVHV
D
E(OPLVPRTXHGHSDtVHVTXHFRQIRUPDQHODFWXDOGHOD8QLyQ(XURSHD
F(OPLVPRTXHSDtVHVILUPDQWHVGHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'H
UHFKRV+XPDQRV
(O6XEFRPLWpFRQWUDODWRUWXUDHVFUHDGRSRU
D/D&RQYHQFLyQ&RQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV&UXHOHV,QKXPDQRVR'HJUD
GDQWHV
E(O&RQVHMRGH'HUHFKRV+XPDQRVGHODV1DFLRQHV8QLGDV
F(O3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV
&UXHOHV,QKXPDQRVR'HJUDGDQWHV
3DUDTXHVHGpODILJXUDGHOLFWLYDGHWRUWXUDV
D6HKDQGHFDXVDUOHVLRQHVPX\JUDYHV
E'HEHQFRPHWHUVHDFWRVGHEDUEDULHPX\FRQWLQXDGRV
F6XDXWRUGHEHVHUXQIXQFLRQDULRS~EOLFRRVHUpVWHHOLQVWLJDGRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpDxRFRPLHQ]DVXVIXQFLRQHVHO6XEFRPLWpSDUDOD3UHYHQFLyQ"
D
E
F
4XpQ~PHURGH0HFDQLVPR1DFLRQDOHVGH3UHYHQFLyQILMDHO3URWRFROR"
D1RHVWiILMDGR
E
F
'HFXiQWDVSDUWHVVHFRPSRQHHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQ
FRQWUDOD7RUWXUD"
D'HVLHWH
E'HWUHV
F'HFXDWUR
3DUDYLJLODUHOFXPSOLPLHQWRGHOD&RQYHQFLyQFRQWUDOD7RUWXUDVHFUHD
D(O&RPLWpFRQWUDOD7RUWXUD
E(O6XEFRPLWpGH3UHYHQFLyQ
F$PERV
(QTXpDxR(VSDxDKDUDWLILFDGRHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQ
FRQWUDOD7RUWXUD"
D
E
F
1RVHFRQVLGHUDQWRUWXUDODVSHQDV\VXIULPLHQWRVLQIULQJLGRV
D(QHVWDGRVGHJXHUUDSRUPLOLWDUHVSURIHVLRQDOHV
E&RQPRWLYRGHVLWXDFLRQHVHQXQHVWDGRGHH[FHSFLyQ
F(QWRGRVORVFDVRVDQWHULRUHVVHFRQVLGHUDQWRUWXUD
3XHGHVHUUHRGHWRUWXUD
D8QIXQFLRQDULRGHSULVLRQHVTXHDSOLTXHPHGLGDVGHJUDGDQWHVDODVSHUVRQDVSULYD
GDVGHOLEHUWDGDVXFDUJR
E(OSDGUHTXHFRPHWHFRQWUDVXVKLMRVSHUPDQHQWHVVXIULPLHQWRVSVtTXLFRV\ItVLFRV
F7RGRVORVDQWHULRUHVSXHGHQVHUUHRVGHWRUWXUD
4XLpQILMDHOQ~PHURGH0HFDQLVPRV1DFLRQDOHVGH3UHYHQFLyQ"
D(O6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
E&DGD(VWDGRSDUWHILMDHOFRQYHQLHQWH
F(O3URWRFRORGH3UHYHQFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QTXpIHFKDVHDSUREySRUOD$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
OD&RQYHQFLyQFRQWUDOD7RUWXUD"
D(OGHMXOLRGH
E(OGHPDU]RGH
F(OGHGLFLHPEUHGH
/RV (VWDGRV SDUWHV GHO 3URWRFROR )DFXOWDWLYR GH OD &RQYHQFLyQ FRQWUD OD
7RUWXUD\RWURV7UDWRVR3HQDV&UXHOHV,QKXPDQRVR'HJUDGDQWHVVHFRPSURPHWHQ
UHVSHFWRDORV0HFDQLVPRV1DFLRQDOHVGH3UHYHQFLyQ
D$SXEOLFDU\GLIXQGLUVXVLQIRUPHVDQXDOHV
E$SRQHUHQOLEHUWDGDDTXHOORVGHWHQLGRVDORVTXHVHOHVKD\DDSOLFDGRVWRUWXUD
F$IDFLOLWDUOHORVGDWRVGHFXDOTXLHUSHUVRQDTXHKD\DUHFLELGRWUDWRVYHMDWRULRV
4XpSOD]RWLHQHXQ(VWDGRSDUWHSDUDFUHDUORV0HFDQLVPRV1DFLRQDOHVGH
3UHYHQFLyQGHVGHTXHVHDGKLHUHDO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUD
OD7RUWXUD\RWURV7UDWRVR3HQDV&UXHOHV,QKXPDQRVR'HJUDGDQWHV"
D6HLVPHVHV
E8QDxR
F'RVDxRV
(QTXpDUWtFXORGHO3DFWR,QWHUQDFLRQDOGH'HUHFKRV&LYLOHV\3ROtWLFRVVH
SURKtEHODWRUWXUD"
D(QHODUWtFXOR
E(QHO
F(QHO
/DQRUPDWLYDTXHFDVWLJDODWRUWXUDHQ(VSDxDHV
D/D&RQVWLWXFLyQ(VSDxRODHQVXDUWtFXOR
E/D/H\GH)XHU]DV\&XHUSRVGH6HJXULGDG
F(O&yGLJR3HQDOHQVXDUWtFXOR
(OGHGLFLHPEUHGHVHDSUREy
D(O3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV
E(O3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\3ROtWLFRV
F/D&RQYHQFLyQGH5RPD
'HFXiQWRVDUWtFXORVVHFRPSRQHHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQ
FRQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV&UXHOHV,QKXPDQRVR'HJUDGDQWHV"
D
E
F
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QODDFWXDOLGDGHOQ~PHURGHPLHPEURVGHO&RPLWpFRQWUDOD7RUWXUDHVGH
D
E
F
(Q TXp WH[WR VH FDVWLJDQ ORV DFWRV GH WRUWXUD R GH WUDWRV LQKXPDQRV HQ
QXHVWURSDtV
D(QOD&RQVWLWXFLyQ
E(QHO&yGLJR3HQDO
F(QDPERV
(QTXpDUWtFXORGHQXHVWUD&RQVWLWXFLyQVHSURKtEHODWRUWXUD"
D(QHO
E(QHO
F(QHO
/RVPLHPEURVGHO6XEFRPLWpSDUDOD3UHYHQFLyQVRQHOHJLGRVSRU
E/DVSDUWHVILUPDQWHVGHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQ&RQWUDOD7RUWXUD\
RWURV7UDWRVR3HQDOHV&UXHOHV,QKXPDQRVR'HJUDGDQWHV
F(O$OWR&RPLVLRQDGRGHODV1DFLRQHV8QLGDVSDUDORV'HUHFKRV+XPDQRV
&XiQWRVFDQGLGDWRVDO6XEFRPLWpSDUDOD3UHYHQFLyQSUHVHQWDFDGDSDtV
SDUWHGHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD\RWURV7UDWRVR
3HQDOHV&UXHOHV,QKXPDQRVR'HJUDGDQWHV"
D1LQJXQR\DTXHVRQSUHVHQWDGRVSRUOD$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
E8QR
F'RV
/D SURKLELFLyQ GH WRUWXUDV HQ HO &RQYHQLR (XURSHR SDUD OD 3URWHFFLyQ GH
ORV'HUHFKRV+XPDQRV\GHODV/LEHUWDGHV)XQGDPHQWDOHVTXHGDH[SXHVWRHQVX
DUWtFXOR
D&LQFR
E7UHV
F'LH]
4XpWH[WRGHORVVLJXLHQWHVIXHILUPDGRHQ)UDQFLD"
D/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
E(O&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\ODV/LEHUWDGHV
)XQGDPHQWDOHV
F$PERV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHXQDLQVWLWXFLyQUHODFLRQDGDFRQORV'HUHFKRV+XPDQRV\DGHVDSD
UHFLGD
D/D&RPLVLyQ(XURSHDGHORV'HUHFKRV+XPDQRV
E(O&RPLWpGH0LQLVWURVGHO&RQVHMRGH(XURSD
F(O&RQVHMR(FRQyPLFR\6RFLDOGHODV1DFLRQHV8QLGDV
(O&RPLWpGHORV'HUHFKRV+XPDQRVGHSHQGH
D'HO&RPLWpGH0LQLVWURVGHO&RQVHMRGH(XURSD
E'HO&RQVHMR(FRQyPLFR\6RFLDOGHODV1DFLRQHV8QLGDV
F'HOD$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
(O&RPLWpGH'HUHFKRV+XPDQRVGHODV1DFLRQHV8QLGDVIXHFUHDGRSRU
D(O3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\3ROtWLFRV
E(O3DFWR,QWHUQDFLRQDOGH'HUHFKRV(FRQyPLFRV6RFLDOHV\&XOWXUDOHV
F(O$OWR&RPLVLRQDGRSDUDORV'HUHFKRV+XPDQRVGHODV1DFLRQHV8QLGDV
&XiQWRVH[SHUWRVFRPSRQHQHO&RPLWpGHORV'HUHFKRV+XPDQRVGHODV
1DFLRQHV8QLGDV"
D7DQWRVFRPRPLHPEURVILUPDQWHVGHO3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\
3ROtWLFRV
EDPSOLDEOHVKDVWD
F
'HTXLpQGHSHQGHGLUHFWDPHQWHHO$OWR&RPLVLRQDGRGHORV'HUHFKRV+X
PDQRVSDUDODV1DFLRQHV8QLGDV"
D'HOD$VDPEOHD*HQHUDOGHOD218
E'HO6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
F'H(&262&
&XiQWDVVHFFLRQHVFRPSRQHQDFWXDOPHQWHHO7ULEXQDO(XURSHRGH'HUH
FKRV+XPDQRV"
D6LHWH
E&LQFR
F1RH[LVWHHVWDGLYLVLyQHQHO7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRV
/D $VDPEOHD 3DUODPHQWDULD GHO &RQVHMR GH (XURSD UHVSHFWR DO 7ULEXQDO
(XURSHRGH'HUHFKRV+XPDQRVHOLJH
D$O3UHVLGHQWH9LFHSUHVLGHQWHV\PDJLVWUDGRV
E6yORD0DJLVWUDGRV\9LFHSUHVLGHQWHV
F6yORDORVPDJLVWUDGRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQHOLJHDORVPLHPEURVGHO&RQVHMRGH'HUHFKRV+XPDQRV"
E(O6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
F(O&RQVHMRGH6HJXULGDGHQ3OHQR
(QTXpFRQVLVWHXQ0DQGDWR7HPiWLFRGHO&RQVHMRGH'HUHFKRV+XPD
QRVGH1DFLRQHV8QLGDV"
D(VXQMXLFLRFHOHEUDGRFRQPRWLYRGHXQDYLRODFLyQJUDYHGHGHUHFKRVKXPDQRV
E(VXQDRUGHQUHFLELGDGHOD$VDPEOHD*HQHUDO
F(VXQSURFHGLPLHQWRGHSURWHFFLyQGHGHUHFKRVKXPDQRV
'yQGHVHXELFDQORVRUJDQLVPRVUHODFLRQDGRVFRQODSURWHFFLyQGHORV
'HUHFKRV+XPDQRVSHUWHQHFLHQWHVDODV1DFLRQHV8QLGDV"
D(Q(VWUDVEXUJR
E(Q3DUtV
F(Q*LQHEUD
5HVSHFWRDODVVHQWHQFLDVTXHHPLWHOD*UDQ6DODGHO7ULEXQDO(XURSHRGH
'HUHFKRV+XPDQRVVRQ
D,UUHYRFDEOHV
E5HFXUULEOHV
F2ULHQWDWLYDV
/D*UDQ6DODGHO7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRVHVWiIRUPDGDSRU
D9HLQWLFLQFRMXHFHV
E'LHFLVLHWHMXHFHV
F7DQWRVMXHFHVFRPRSDtVHVSDUWHVGHO&RQYHQLR(XURSHRGH'HUHFKRV+XPDQRV
$ORVSURWRFRORVTXHDxDGHQGHUHFKRVQRJDUDQWL]DGRVHQHO&RQYHQLR(X
URSHRGH'HUHFKRV+XPDQRVVHOHVGHQRPLQD
D3URWRFRORVGH(QPLHQGDV
E3URWRFRORVGH&RUUHFFLRQHV
F3URWRFRORV$GLFLRQDOHV
4Xp3DFWRR&RQYHQLRGHORVH[SUHVDGRVHQODVUHVSXHVWDV\HQUHODFLyQ
FRQORV'HUHFKRV+XPDQRVHQWUyHQYLJRUHQSULPHUOXJDU"
D3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\3ROtWLFRV
E3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV(FRQyPLFRV6RFLDOHV\&XOWXUDOHV
F&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV,QGLYL
GXDOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
1RH[LVWHHQODDFWXDOLGDGHOVLJXLHQWHRUJDQLVPRUHODFLRQDGRFRQODSUR
WHFFLyQGHORV'HUHFKRV+XPDQRV
D/D&RPLVLyQ(XURSHDGH'HUHFKRV+XPDQRV
E/D&RPLVLyQGH'HUHFKRV+XPDQRVGHODV1DFLRQHV8QLGDV
F$PERVRUJDQLVPRV
8QD6HFFLyQGHO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRV
D(VWiIRUPDGDSRUQXHYHMXHFHV
E(VRWUDGHQRPLQDFLyQGHXQD*UDQ6DODGHGLFKR7ULEXQDO
G1RH[LVWHFRPRGLYLVLyQGHO7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRV

&XiQWRV (VWDGRV PLHPEURV FRPSRQHQ HO DFWXDO &RQVHMR GH 'HUHFKRV
+XPDQRVGHODV1DFLRQHV8QLGDV"
D7DQWRVFRPRSDtVHVFRQIRUPHQODV1DFLRQHV8QLGDV
E&XDUHQWD\VLHWH
F'LHFLVpLV
/RVPHFDQLVPRVGHSURWHFFLyQGHGHUHFKRVKXPDQRVTXHHO&RQVHMRGH
'HUHFKRV+XPDQRVPDQWLHQHLJXDODOGHODH[WLQWD&RPLVLyQGH'HUHFKRV+XPDQRV
VRQGHGRVWLSRVFXiOHV
D5HFODPDFLRQHV\4XHMDV
E'HQXQFLDVGH(VWDGRV\GHQXQFLDVSDUWLFXODUHV
F0DQGDWRVWHPiWLFRV\SRUSDtVHV
6HxDOHXQRUJDQLVPRTXHQRKDVLGRFUHDGRSRUHO3URWRFROR)DFXOWDWLYRGH
3UHYHQFLyQFRQWUDOD7RUWXUD
E(O6XEFRPLWpGHSUHYHQFLyQFRQWUDODVWRUWXUD
F/RV0HFDQLVPRV1DFLRQDOHVGHSUHYHQFLyQFRQWUDODWRUWXUD
$HIHFWRVSHQDOHVVHxDOHDTXHOODFRQGXFWDTXHVHSXHGDFRQVLGHUDUWRUWXUD
D/DYLROHQFLDHMHUFLGDSRUXQPDULGRFRQWUDVXPXMHUSDUDREOLJDUODDUHDOL]DUGHWHUPL
QDGDDFFLyQ
E/DVOHVLRQHVSURGXFLGDVHQXQDFDUJDSROLFLDODOGLVROYHUXQDPDQLIHVWDFLyQ
F1LQJXQDGHODVGRVDQWHULRUHVVHSXHGHFRQVLGHUDUWRUWXUD
(O&RPLWpGH0LQLVWURVGHO&RQVHMRGH(XURSDHVWiIRUPDGRSRU
D/RV-HIHVGH(VWDGRGHORVSDtVHVPLHPEURVGHO&RQVHMR
E/RV-HIHVGH*RELHUQRGHORVSDtVHVPLHPEURVGHO&RQVHMR
F/RV0LQLVWURVGH$VXQWRV([WHULRUHVGHORVSDtVHVPLHPEURVGHO&RQVHMR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$QLYHOLQWHUQDFLRQDOODV1DFLRQHV8QLGDVKDHPLWLGRXQFRQMXQWRMXUtGLFR
HQUHODFLyQFRQORVGHUHFKRVKXPDQRVFRPSXHVWRSRUYDULRVFXHUSRVQRUPDWLYRV
TXHVHFRQRFHQFRPR
D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV
E&DUWD,QWHUQDFLRQDOGHORV'HUHFKRV+XPDQRV
F3URWRFRORVGHORV'HUHFKRV+XPDQRV
/RVMXHFHVTXHIRUPDQSDUWHGHO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRV
DFW~DQHQHOPLVPRFRQLQGHSHQGHQFLDLPSDUFLDOLGDG\GLVSRQLELOLGDGFRPSOHWDV
D(QQRPEUHGHO(VWDGRSDUWHSRUHOTXHKDVLGRHOHJLGR
E(QUHSUHVHQWDFLyQGHOJUXSRSROtWLFRGHOD$VDPEOHDGHO&RQVHMRGH(XURSDDOTXH
SHUWHQHFH
F$WtWXORLQGLYLGXDO
/DSUHVXQFLyQGHLQRFHQFLDFRPREDVHGHOSURFHVRSHQDOGHWRGRVORV(V
WDGRVHVWiUHFRQRFLGDHQOD'HFODUDFLyQGHORV'HUHFKRV+XPDQRV
D(QVXDUWtFXOR
E(QVXDUWtFXOR
F,PSOtFLWDPHQWHHQWRGRVXFRQWHQLGRSHURQRGLUHFWDPHQWHSODVPDGDHQDOJ~QDUWtFXOR
(OGHUHFKRDOUHVSHWRDODYLGDSULYDGD\IDPLOLDUDOGRPLFLOLR\DODFRUUHV
SRQGHQFLDWLHQHDOJXQDH[FHSFLyQHQHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGH
ORV'HUHFKRV+XPDQRV\GHODV/LEHUWDGHV)XQGDPHQWDOHV"
D6tHQHOFDVRGHRUGHQSROLFLDOGHHQWUDGD\UHJLVWURHQXQGRPLFLOLR
E6tVLFRQVWLWX\HPHGLGDQHFHVDULDSDUDODVHJXULGDGQDFLRQDO
F1RHQQLQJ~QFDVR
(O3UHVLGHQWHGHO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRVHVHOHJLGR
D3RUHOSURSLR7ULEXQDOUHXQLGRHQ3OHQR
E3RUHO&RQVHMRGH0LQLVWUR
F3RUOD$VDPEOHDGHO&RQVHMRGH(XURSD

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
F/DLQWHUQDFLRQDOL]DFLyQGHHVWRVGHUHFKRV
F5RPD
F'HUHFKRVGHODVPLQRUtDVPXMHUHVQLxRV
F/DVGRVDQWHULRUHVIXHURQLQWHQFLRQHVGHORVILUPDQWHV
D4XHQRVHQRVSXHGHGHVSRVHHUGHHOORV
E8QDFRQFHSFLyQFRP~QSRUSDUWHGHWRGRVORV(VWDGRVGHHVWRVGHUHFKRV
F7UHV
E4XHORV3DFWRVREOLJDQDVXVILUPDQWHVDVXFXPSOLPLHQWRPLHQWUDVTXHOD'H
FODUDFLyQHVXQDJXtDGHLQWHQFLRQHV
D/D&RPLVLyQGH'HUHFKRV+XPDQRV
F'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
F/D218
D8QD'HFODUDFLyQ
F
D/D3ULPHUD*HQHUDFLyQGH'HUHFKRV+XPDQRV
D&DUWD,QWHUQDFLRQDOGHORV'HUHFKRV+XPDQRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
FDUWtFXORV
E'HUHFKRV&LYLOHV
F/RVGRVDQWHULRUHVHVWiQUHFRJLGRVHQHVHGRFXPHQWR
D'HUHFKRDXQPHGLRDPELHQWHVDQR

F3DUtV
F1LQJXQRHVDQWHULRUDOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV

F1LQJXQDGHODVUHVSXHVWDVDQWHULRUHVHVFLHUWD
E(QHOSOD]RPiVEUHYHSRVLEOH
F/RVGRVDQWHULRUHV
F/RVGHUHFKRVEDVDGRVHQSULQFLSLRVGHVROLGDULGDG

D(VWDGRVH[FHSFLRQDOHVTXHDPHQDFHQODYLGDGHODQDFLyQ
F$O6HFUHWDULR*HQHUDOGHO&RQVHMRGH(XURSD
F/DSURKLELFLyQGHODHVFODYLWXGGHWRUWXUD\HOGHUHFKRDODYLGDQRVHSXHGHQ
GHURJDU
D1R
E'H7HUFHUD*HQHUDFLyQ
EGHGLFLHPEUHGH
D&DUWDGH7XUtQ
D&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV

D$WRGDSHUVRQDGHSHQGLHQWHGHODMXULVGLFFLyQGHFDGDSDtVILUPDQWH
D8QPHFDQLVPRGHSURWHFFLyQGHGHUHFKRVKXPDQRVDQLYHOHXURSHR
D'HQXQFLDQWHVQRDQyQLPRV
E/RVH[SHULPHQWRVPpGLFRVVLQFRQVHQWLPLHQWRGHODYtFWLPD

F8QLGHDOFRP~QTXHGHEHLQVSLUDUODVQRUPDVGHWRGRVORVSDtVHV
F$PERVyUJDQRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E$ORVWULEXQDOHVQDFLRQDOHVFRPSHWHQWHV
D6HKDQGHDSOLFDUDWRGRVHUKXPDQRVLQGLVWLQFLyQSRUFDXVDDOJXQD
E$ORVGHUHFKRVGHOPHQRU
F/DV1DFLRQHV8QLGDV
E8QDKHUUDPLHQWDTXHKDFUHDGRHO3URWRFRORGH3UHYHQFLyQFRQWUDOD7RUWXUD
E(&262&
F/DGLJQLGDGGHODSHUVRQDKXPDQD
D6HLVVHPDQDV
D7UHFH
FDUWtFXORV
D6X7tWXOR,,
D(VWUDVEXUJR
F 6t LQFOXVR HVWDEOHFHU UHVWULFFLRQHV R VDQFLRQHV HQ UHODFLyQ FRQ OD VHJXULGDG
QDFLRQDOSUHYHQFLyQGHGHOLWRVHWF
FGHMXOLRGH
F6RQSUHYDOHQWHVDRWURVGHUHFKRV
D3ULPHUD*HQHUDFLyQ
E$OWR&RPLVLRQDGRGHODV1DFLRQHV8QLGDVSDUDORV'HUHFKRV+XPDQRV
D/D&DUWDGH7XUtQ
E6XDUWtFXOR
E$QXDOPHQWH
F
D&RQYHQFLyQGH5RPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D
E6RFLHGDGGH1DFLRQHV
D(QHO7tWXOR,
FGHVHSWLHPEUHGH
E'HXQ3UHiPEXOR\WUHVWtWXORV
E7UHVMXHFHV
F(OPLVPRTXHSDtVHVILUPDQWHVGHO&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV
'HUHFKRV+XPDQRV
F(O3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV
F6XDXWRUGHEHVHUXQIXQFLRQDULRS~EOLFRRVHUpVWHHOLQVWLJDGRU
F
D1RHVWiILMDGR
D'HVLHWH
F
F(QWRGRVORVFDVRVDQWHULRUHVVHFRQVLGHUDQWRUWXUD
D8QIXQFLRQDULRGHSULVLRQHVTXHDSOLTXHPHGLGDVGHJUDGDQWHVDODVSHUVRQDV
SULYDGDVGHOLEHUWDGDVXFDUJR
E&DGD(VWDGRSDUWHILMDHOFRQYHQLHQWH
F(OGHGLFLHPEUHGH
D$SXEOLFDU\GLIXQGLUVXVLQIRUPHVDQXDOHV
E8QDxR
F(QHO
F(O&yGLJR3HQDOHQVXDUWtFXOR
D(O3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWXUD\RWURV7UDWRVR3HQDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F
E
E(QHO&yGLJR3HQDO
D(QHO
E/DVSDUWHVILUPDQWHVGHO3URWRFROR)DFXOWDWLYRGHOD&RQYHQFLyQFRQWUDOD7RUWX
UD\RWURV7UDWRVR3HQDOHV&UXHOHV,QKXPDQRVR'HJUDGDQWHV
F'RV
E7UHV
D/D'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
D/D&RPLVLyQ(XURSHDGHORV'HUHFKRV+XPDQRV
F'HOD$VDPEOHD*HQHUDOGHODV1DFLRQHV8QLGDV
D(O3DFWR,QWHUQDFLRQDOGHORV'HUHFKRV&LYLOHV\3ROtWLFRV
F
E'HO6HFUHWDULR*HQHUDOGHODV1DFLRQHV8QLGDV
E&LQFR
F6yORDORVPDJLVWUDGRV
F(VXQSURFHGLPLHQWRGHSURWHFFLyQGHGHUHFKRVKXPDQRV
F(Q*LQHEUD
D,UUHYRFDEOHV
E'LHFLVLHWHMXHFHV
F3URWRFRORV$GLFLRQDOHV
F&RQYHQLR(XURSHRSDUDOD3URWHFFLyQGHORV'HUHFKRV+XPDQRV\/LEHUWDGHV
,QGLYLGXDOHV
F$PERVRUJDQLVPRV
D(VWiIRUPDGDSRUQXHYHMXHFHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E&XDUHQWD\VLHWH
F0DQGDWRVWHPiWLFRV\SRUSDtVHV
F1LQJXQDGHODVGRVDQWHULRUHVVHSXHGHFRQVLGHUDUWRUWXUD
F/RV0LQLVWURVGH$VXQWRV([WHULRUHVGHORVSDtVHVPLHPEURVGHO&RQVHMR
E&DUWD,QWHUQDFLRQDOGHORV'HUHFKRV+XPDQRV
F$WtWXORLQGLYLGXDO
E(QVXDUWtFXOR
E6tVLFRQVWLWX\HPHGLGDQHFHVDULDSDUDODVHJXULGDGQDFLRQDO
D3RUHOSURSLR7ULEXQDOUHXQLGRHQ3OHQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
*/2%$/,=$&,1<$17,*/2%$/,=$&,1&21&(3726<&$5$&7(567,&$6
&216(&8(1&,$'(/$*/2%$/,=$&,15($&&,21(6$/$*/2%$/,=$&,1
/DJOREDOL]DFLyQHV
D8QVLVWHPDSROtWLFRJOREDOFRQUHSHUFXVLRQHVHFRQyPLFDV\VRFLDOHV
E 8Q VLVWHPD HFRQyPLFR JOREDO TXH LQIOX\H HQ ORV HFRVLVWHPDV FRQ UHSHUFXVLRQHV
SROtWLFDV\VRFLDOHV
F8QVLVWHPDVRFLDOTXHUHSHUFXWHHQORSROtWLFR\HFRQyPLFR\HQORVHFRVLVWHPDV
&XiOGHODVVLJXLHQWHVUHVSXHVWDVHVWiUHODFLRQDGDFRQORV0RYLPLHQWRVGH
5HVSXHVWD*OREDO"
D6HRSRQHQDOVLVWHPDGHLQWHUFDPELRSRUFRQVLGHUDUORPiVSHUMXGLFLDOTXHEHQHIL
FLRVR
E&DQDOL]DQDGHFXDGDPHQWHODLQWHUGHSHQGHQFLDHFRQyPLFDHQWUHSDtVHV
F7RPDQODVGHFLVLRQHVJOREDOL]DGRUDVHQHOFRQWH[WRPXQGLDO
4XpDVSHFWRGHODJOREDOL]DFLyQHVFRPSOHWDPHQWHVLPpWULFRGHIRUPDTXH
HOLQWHUFDPELRVHSURGXFHVLQQLQJ~QWLSRGHSUREOHPDV"
D/RVGHVSOD]DPLHQWRVKXPDQRV
E(OLQWHUFDPELRILQDQFLHUR
F/DJOREDOL]DFLyQFRPHUFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpFDUDFWHUtVWLFDVHUtDDSURSLDGDSDUDFDOLILFDUHOKHFKRGHTXHPLHQWUDV
ORVIOXMRVGHFDSLWDOHVIOX\HQFRQHQRUPHIDFLOLGDGHQWUHSDtVHVODVEROVDVGHSR
EUH]DHQGHWHUPLQDGRVOXJDUHVYDQDXPHQWDQGR"
D*OREDOL]DFLyQWRWDO
E$VLPHWUtD
F'HSHQGHQFLD
/DVVLJODV,'HPSOHDGDVFRQDVLGXLGDGHQORVSDtVHVPiVGHVDUUROODGRVVH
UHILHUHQD
D,PSRUWDQFLD\'HVHPSOHR
E,QVHJXULGDG\'HVHPSOHR
F,QYHVWLJDFLyQ\'HVDUUROOR
/DGRFWULQDSROtWLFRHFRQyPLFDTXHULJHHOVLVWHPDPXQGLDO\HVODEDVHGH
ODJOREDOL]DFLyQHV
D(OFRPXQLVPR
E(OFRRSHUDWLYLVPR
F(OQHROLEHUDOLVPR
/DVDFWXDFLRQHVGHPDQLIHVWDQWHVDQWLJOREDOL]DFLyQWDOHVFRPRSDVDFDOOHV
FDEDOJDWDVHWFHVODHVWUDWHJLDGHQRPLQDGD
D5RVD
E$]XO
F$PDULOOD
/DGLUHFFLyQ\VHQWLGRIXQGDPHQWDOHVGHOIOXMRPLJUDWRULRJOREDOHV
D5HYHUVLEOH
E'H6XUD1RUWH
F'H1RUWHD6XU
5HVSHFWRDODVFRQVHFXHQFLDVFXOWXUDOHVGHODJOREDOL]DFLyQVHSXHGHGHFLUTXH
D6HSURGXFHHQWRGDVODVGLUHFFLRQHVDXQTXHWUDWDQGHLPSRQHUVHODVFXOWXUDVPiV
GRPLQDQWHV
E6HPDQWLHQHXQKHUPHWLVPRUHVSHFWRDODVPH]FODVFXOWXUDOHV
F([LVWHFDGDYH]PiVPD\RUKHWHURJHQHLGDGFXOWXUDODOSUHVHUYDUVHODVHVHQFLDVGH
FDGDFXOWXUD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHHODVSHFWRHQTXHODJOREDOL]DFLyQQRKDWHQLGRLQIOXHQFLDRFRQVH
FXHQFLDDOJXQD
D(OPHGLRDPELHQWH
E/DHFRQRPtD
F/DVGRVDQWHULRUHVVHYHQDIHFWDGDVSRUODJOREDOL]DFLyQ
/DWHQGHQFLDHPRFLRQDOTXHKDFHGHODFXOWXUDSURSLDHOFULWHULRH[FOXVLYR
SDUDLQWHUSUHWDUORVFRPSRUWDPLHQWRVGHRWUDVVRFLHGDGHVHV
D,QWROHUDQFLD
E,QWUDQVLJHQFLD
F(WQRFHQWULVPR
(OGHVDUUROORYHUWLJLQRVRHQHOHPSOHRGHQXHYDVWpFQLFDVPXOWLPHGLDHQODV
FRPXQLFDFLRQHVKXPDQDVTXHSRVLELOLWDQODH[SDQVLyQILQDQFLHUD\FRPHUFLDOEDVH
GHODFWXDOPRYLPLHQWRGHJOREDOL]DFLyQVHGHVLJQDFRQHODFUyQLPR
D7,&
E$'3,&
F3,%
/RVPRYLPLHQWRVDQWLJOREDOL]DFLyQWLHQHQHQWUHRWURVREMHWLYRV
D/DH[SDQVLyQPXQGLDOGHODHFRQRPtDQHROLEHUDO
E/DFRQGRQDFLyQGHODGHXGDGHORVSDtVHVPiVGHVIDYRUHFLGRV
F/RVGRVDQWHULRUHVHQWUHRWURV
&yPRVHFRQRFHQWDPELpQDORVPRYLPLHQWRVDQWLJOREDOL]DFLyQ"
D0RYLPLHQWRV$QWLFXOWXUDOHV
E0RYLPLHQWRVGH5HVLVWHQFLD*OREDO
F0RYLPLHQWRV&RQWUDFXOWXUDOHV
6HxDOHXQFROHFWLYRTXHQRIRUPHSDUWHGHOPRYLPLHQWRDQWLJOREDOL]DFLyQ
D1HRFRPXQLVWDV
E(FRORJLVWDV
F0XOWLQDFLRQDOHV
&XiOSXHGHFRQVLGHUDUVHODSULPHUDGHODVPDQLIHVWDFLRQHVWXPXOWXRVDV\
PXOWLWXGLQDULDVGHSHUVRQDVGHWRGRHOPXQGROODPDGDVDWUDYpVGH,QWHUQHWSRUORV
PRYLPLHQWRVDQWLJOREDOL]DFLyQ"
D6HDWWOHHQ
E5HXQLyQGHO*HQ*pQRYD
F)RUR(FRQyPLFR0XQGLDOGH6DO]EXUJR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XLpQHVUHFODPDQDSHUWXUDGHIURQWHUDVVLQUHVWULFFLRQHVDOFRPHUFLRPXQGLDO"
D/RVSDtVHVULFRV
E/RVSDtVHVSURGXFWRUHVGHPDWHULDVSULPDV
F/RVOtGHUHVPXQGLDOHVGHODVJUDQGHVSRWHQFLDV
4XpHV1$)7$"
D(O7UDWDGRGH/LEUH&RPHUFLRGH$PpULFDGHO1RUWH
E8QDGHULYDFLyQGHOD2UJDQL]DFLyQ0XQGLDOGHO&RPHUFLR
F(O*UXSRGHSDtVHVPiVULFRVHLQIOX\HQWHV
&yPRVHFRQRFHDOJUDYDPHQTXHORV0RYLPLHQWRVGH5HVLVWHQFLD*OREDO
UHTXLHUHQTXHVHLPSRQJDDORVIOXMRVGHFDSLWDODQLYHOPXQGLDO"
D3,%
E7DVD7RELQ
F,('
(QWUHODVFRQVHFXHQFLDVGHODJOREDOL]DFLyQILJXUD
D0D\RUHVGLIHUHQFLDVHQWUHORVSDtVHVULFRV\SREUHV
E7HQGHQFLDDODLJXDOGDGHFRQyPLFDHQWUHWRGRVORVSDtVHVGHOPXQGR
F/RV(VWDGRVQDFLRQDOHVFDGDYH]WRPDQGHFLVLRQHVPiVOLEUHVHLQGHSHQGLHQWHV
8QDFRQVHFXHQFLDSRVLWLYDGHOSURFHVRGHJOREDOL]DFLyQHV
D 0HQRU FRQVXPR HQHUJpWLFR FRPR FRQVHFXHQFLD GH OD SROtWLFD GH ORV SDtVHV PiV
LQGXVWULDOL]DGRVGHUDFLRQDOL]DUVXVSURGXFFLRQHV
E3URJUHVLYRFRPSURPLVRGHWRGRVORVSDtVHVHQODSURWHFFLyQGHORVGHUHFKRVKXPDQRV
F/RVHPLJUDQWHVJR]DQGHVXHOGRVGLJQRV\SURWHFFLyQGHORVSDtVHVGHDFRJLGD
&yPRVHGHQRPLQDODWHRUtDSROtWLFDQDFLGDHQ6XGDPpULFDVHJ~QODFXDO
ORVSDtVHVVXEGHVDUUROODGRVORVRQSRUODGHSHQGHQFLDHFRQyPLFDFRQSDtVHVGHVD
UUROODGRVTXHREOLJDQDDTXHOORVDWHQHUXQUROH[FOXVLYRGHSURGXFWRUHVGHPDWH
ULDVSULPDV\QRLQGXVWULDOL]DFLyQ"
D1DFLRQDOLVPRHFRQyPLFR
E7HRUtDGHOD'HSHQGHQFLD
F(FRQRPtD6ROLGDULD
/DVFDUDFWHUtVWLFDVELROyJLFDVGLIHUHQFLDOHVGHORVGLVWLQWRVJUXSRVKXPD
QRVHVORTXHVHFRQRFHFRPR
D(WQLD
E5D]D
F%LRWLSR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVFRVWXPEUHVORVYDORUHVODVQRUPDVKD\TXHHQWHQGHUORV\DFHSWDUORV
GHVGHODSHUVSHFWLYDVRFLDOGHGRQGHSURFHGHQHVXQSRVLFLRQDPLHQWRFHUFDQRD
ORTXHHQWHQGHPRVFRPR
D;HQRIRELD
E5DFLVPR
F5HODWLYLVPRFXOWXUDO
&XiOGHODVVLJXLHQWHVDILUPDFLRQHVFRQVLGHUDTXHHVODPiVFRUUHFWD"
D/D*OREDOL]DFLyQSHUVLJXHODFRQTXLVWDGHORVSDtVHV
E/D*OREDOL]DFLyQSHUVLJXHODFRQTXLVWDGHORVPHUFDGRV
F/D*OREDOL]DFLyQSHUVLJXHODFRQTXLVWDGHORVWHUULWRULRV
(QHO)RUR(FRQyPLFR0XQGLDOGH'DYRVVHGHILHQGHODQHFHVLGDGGH
D0iVSURWHFFLRQLVPRHFRQyPLFR
E8QDHFRQRPtDDELHUWDDOPHUFDGR
F0D\RUGHVDUUROORFLHQWtILFRWpFQLFR
&yPRVHFRQRFHQGHQWURGHORVPRYLPLHQWRVDQWLJOREDOL]DFLyQDORVJUX
SRVPiVYLROHQWRVTXHVXHOHQWHQHUXQDIRUPDFRP~QGHYHVWLU\H[KLELUVH"
D%ULJDGDV5RMDV
E*UXSRVDQWLIDVFLVWDV
F%ORTXHQHJUR
/DJOREDOL]DFLyQHV
D8QIHQyPHQRFRPSOHWR\WHUPLQDGR
E8QLQVWUXPHQWRTXHLQGHSHQGLHQWHPHQWHGHVXXWLOL]DFLyQIRPHQWDODVUHODFLRQHV
KXPDQLWDULDV
F8QODUJRSURFHVRLQDFDEDGRHQHOTXHHOFDSLWDOOXFKDSRUDPSOLDUVXGRPLQLR
(OFRQFHSWRGHDOGHDJOREDOVHGHEHD
D%LOO*DWHV
E0DUVKDOO0F/XKDQ
F-RKQ6PLWK
4XpHVODDOWHUJOREDOL]DFLyQ"
D8QDWHUFHUDYtDHQWUHORVPRYLPLHQWRVDQWLJOREDOL]DGRUHV\ODVLQVWLWXFLRQHVRILFLDOHV
E(OQXHYRWpUPLQRDFXxDGRSRUHO)RQGR0RQHWDULR,QWHUQDFLRQDOUHIHULGRDODJORED
OL]DFLyQ
F8QWpUPLQRTXHORV05*SUHILHUHQDOGHDQWLJOREDOL]DFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DDQWLJOREDOL]DFLyQWLHQHHQWUHVXVSUHWHQVLRQHVVXVWLWXLUHOFRQFHSWRGH
3URGXFWR,QWHULRU%UXWRSRUHOGH
DQGLFHGHELHQHVWDUHFRQyPLFRVRVWHQLEOH
E7DVD7RELQ
F5D]yQGH%LHQHVWDU
(OVORJDQ2WURPXQGRHVSRVLEOHSHUWHQHFH
D$O)RQGR0RQHWDULR,QWHUQDFLRQDO
E$O)RUR(FRQyPLFRGH'DYRV
F$O)RQGR6RFLDO0XQGLDO
6LFRQVLGHUDPRVHOKHFKRGHODSROLJDPLDFRPRDFHSWDEOHHQHOFRQWH[WR
GHUDVJRVFXOWXUDOHVGHGHWHUPLQDGRJUXSRKXPDQRSRGHPRVGHFLUTXHOHMRVGH
FRQVLGHUDUQRVHWQRFpQWULFRV
D$SOLFDPRVXQFODURUHODWLYLVPRFXOWXUDO
E1RVFRQVLGHUDPRVDOWUXLVWDV
F6RPRVUDFLDOLVWDV
/DH[FOXVLyQHODSDUWKHLGHOJHQRFLGLRODHVFODYLWXGQRVRQVLQRIRUPDV
GLVWLQWDVGH
D6HJUHJDFLyQ
E8QDSHUVRQDOLGDGDXWRULWDULD
F(WQRFHQWULVPR
/DpWLFDHVWDPELpQSURGXFWRGHXQSURFHVRHYROXFLRQLVWD1RKD\QRUPDV
pWLFDVILMDV(VWDVVRQPHUDPHQWHHOUHVXOWDGRGHFXOWXUDVHVSHFtILFDVHQUHODFLyQ
FRQHOUHODWLYLVPRFXOWXUDOVRQIUDVHVTXHVHGHEHQDOSUHFXUVRUGHHVWHFRQFHSWR
D'XUNKHLP
E0DVORZ
F'HZH\
1RHVXQIDFWRUTXHEHQHILFLHHOGHVDUUROORGHODJOREDOL]DFLyQ
D/DGLVPLQXFLyQGHFRQVXPR
E(OFUHFLPLHQWR\ODVIXVLRQHVHQWUHHPSUHVDV
F/DDSHUWXUDGHPHUFDGRVFRPRHQOD8QLyQ(XURSHD
6RQHIHFWRVVRFLDOHVSRVLWLYRVGHODJOREDOL]DFLyQ
D(OGXDOLVPRVRFLDO
E/DH[SDQVLyQGHORV'HUHFKRV+XPDQRV
F0iVIDFLOLGDGHVDODVPLJUDFLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOHVKDQVLGRORVIDFWRUHVIXQGDPHQWDOHVSDUDHOGHVDUUROORGHOSURFHVR
GH*OREDOL]DFLyQHQODVHPSUHVDVPXOWLQDFLRQDOHV"
D/DVQXHYDVWHFQRORJtDV
E'HVDUUROORGHOWUDQVSRUWHHLQFUHPHQWRGHUHODFLRQHVDQLYHOPXQGLDO
3RGHPRVGHFLUTXHFRPRFRQVHFXHQFLDGHODJOREDOL]DFLyQ
D0iVSHUVRQDVOOHJDQDEHQHILFLDUVHGHPD\RUHVEHQHILFLRV
E(OIOXMRFXOWXUDOHVXQLGLUHFFLRQDO
F/RV(VWDGRVQDFLRQDOHVQRVXIUHQQLQJXQDSUHVLyQH[WHUQDHQFXDQWRDVXVGHFLVLRQHV
%DVHIXQGDPHQWDOSDUDHOSURJUHVRGHOPRYLPLHQWRGHQRPLQDGRJOREDOL]D
FLyQKDVLGR
D(OGHVDUUROORGHODVFRPXQLFDFLRQHVSDUWLFXODUPHQWH,QWHUQHW
E/RVPRYLPLHQWRVGHHPLJUDQWHV
F/DDFHSWDFLyQGHHVHPRYLPLHQWRSRUSDUWHGHWRGRVORVVHFWRUHVVRFLDOHV
(OKHFKRGHTXHGHELGRDORVHIHFWRVGHODJOREDOL]DFLyQHOGHVDUUROORGH
ORV PHGLRV GH FRPXQLFDFLyQ GH PDVDV \ SDUWLFXODUPHQWH GH ,QWHUQHW HO PXQGR
HVWiPiVFRQHFWDGRHQWUHVt\ODVGHFLVLRQHVGHXQSDtVDIHFWHQDRWURXRWURVGH
IRUPDGHFLVLYDKDOOHYDGRDDFXxDUHOWpUPLQRGH
D8QPXQGRIHOL]
E8QPXQGRXQLGR
F$OGHDJOREDO
/RVFRQWLQXRVFDPELRVHQODFLHQFLDHQORSROtWLFRHQORVRFLDOVHGLIXQGHQ
LQPHGLDWDPHQWHJUDFLDVD
D/DVPXOWLQDFLRQDOHV
E/RVPDVVPHGLD
F/RVPRYLPLHQWRVGHUHVLVWHQFLDJOREDO
(OFRQFHSWRGHJOREDOL]DFLyQWDPELpQVHFRQRFHFRQHOWpUPLQR
D6RFLDOL]DFLyQ
E'HPRFUDWL]DFLyQ
F0XQGLDOL]DFLyQ
8QDGHODVFDUDFWHUtVWLFDVGHOPRYLPLHQWRDQWLJOREDOL]DFLyQHVTXH
D(VPX\KHWHURJpQHRHQFXDQWRDORVJUXSRVTXHORIRUPDQ
E(VSDFLILVWD\DQWLYLROHQWRHQVXVPDQLIHVWDFLRQHV
F(VPX\KRPRJpQHRHQFXDQWRDODVIRUPDFLRQHVTXHORFRQIRUPD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4Xp DFRQWHFLPLHQWR SXHGH FRQVLGHUDUVH HO LQLFLR R JHVWDFLyQ GHO PRYL
PLHQWRDQWLJOREDOL]DFLyQ"
D5HXQLyQHQ:DVKLQJWRQGHO)0,
E/RV(QFXHQWURV,QWHUFRQWLQHQWDOHVSRUOD+XPDQLGDG
F&HOHEUDFLyQGHOD5RQGDGHO0LOHQLR
/DHVWUDWHJLDDPDULOODGHORVJUXSRVDQWLJOREDOL]DFLyQFRQVLVWHHQ
D'HVREHGLHQFLDFLYLO\PDQLIHVWDFLRQHVQRYLROHQWDV
E$FFLRQHVYLROHQWDV
F&DEDOJDWDV\WHDWURHQODFDOOH
4XpUHFODPDQORVPRYLPLHQWRVDQWLJOREDOL]DFLyQHQUHODFLyQFRQORVIOXMRV
GHFDSLWDOHVHQWUHSDtVHV"
D3OHQDHLJXDOOLEHUWDGGHPRYLPLHQWRVPRQHWDULRV
E0D\RUSRGHUGHOD,QYHUVLyQ([WUDQMHUD'LUHFWD
F(OHVWDEOHFLPLHQWRGHOD7DVD7RELQ
8QDRUJDQL]DFLyQLQWHUQDFLRQDOHQWUH*RELHUQRVTXHUH~QHDORVSDtVHVPiV
LQGXVWULDOL]DGRVHV
D2&'(
E)0,
F20&
4XpSHUVRQDMHGHORVVLJXLHQWHVWLHQHTXHYHUFRQORVPRYLPLHQWRVDQWLJ
OREODOL]DFLyQ"
D0LFKHO&DPGHVVXV
E$JXVWLQ&DUVWHQ
F-RKQ=HU]DQ
5HVSHFWRDODJOREDOL]DFLyQXQDGHODVUHVSXHVWDVFRQWLHQHXQDFRQVHFXHQ
FLDFRUUHFWD
D/DLQPLJUDFLyQPDVLYDHVSURGXFWRGHODJOREDOL]DFLyQVLQTXHORVIOXMRVPLJUDWRULRV
DQWHULRUHVKD\DQVLGRGHWDOYROXPHQ
E$FHSWDFLyQWRWDOGHODPXOWLFXOWXUDOLGDGHQORVSDtVHVUHFHSWRUHVGHHPLJUDQWHV
F7HQGHQFLDFODUDDODLJXDODFLyQVRFLDOGHODPXMHU\HOKRPEUH
(OKHFKRGHHQWHQGHU\HYDOXDURWUDFXOWXUDFRQORVSDUiPHWURVGHODQXHV
WUDHV
D*OREDOL]DFLyQ
E(WQRFHQWULVPR
F;HQRIRELD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OKHFKRGHTXHVHDFHSWHTXHQRKD\UDVJRVFXOWXUDOHVUHFKD]DEOHVHQFXO
WXUDVGLVWLQWDVDODSURSLDVLHPSUHTXHVHHQMXLFLHQHQVXSURSLRFRQWH[WRHV
D5HODWLYLVPRFXOWXUDO
E$OWUXLVPR
F,JXDOLWDULVPR
/DVFDUDFWHUtVWLFDVFXOWXUDOHVTXHGLIHUHQFLDQDSHUVRQDVGHGLVWLQWRVJUX
SRVKXPDQRVHVHOFRQFHSWRGH
D(WQLD
E5D]D
F%LRWLSR
1RHVXQDFDUDFWHUtVWLFDGHODJOREDOL]DFLyQHFRQyPLFD
D([SDQVLyQGHORVPHUFDGRVILQDQFLHURV
E'LVPLQXFLyQGHOFRPHUFLRLQWHUQDFLRQDO
F5HRUJDQL]DFLyQHVSDFLDOGHODSURGXFFLyQ
8QDFRQGXFWDKRVWLOKDFLDXQJUXSRUDFLDOGHODVRFLHGDGHQTXHQRVGHVHQ
YROYHPRVHVFRQRFLGDFRPR
D(VWHUHRWLSR
E;HQRIRELD
F'LVFULPLQDFLyQ
/DKRVWLOLGDGKDFLDLQGLYLGXRVGHUD]DGLVWLQWDUHFLEHHOQRPEUHFRQFUHWRGH
D)XQGDPHQWDOLVPR
E(WQRFHQWULVPR
F5DFLVPR
(OPLHGRODDELHUWDKRVWLOLGDGKDFLDSHUVRQDVGHFXOWXUDVGLIHUHQWHVDOD
QXHVWUDHVHOFRQFHSWRGH
D(WQRFHQWULVPR
E;HQRIRELD
F5DFLVPR
(O 0DVV0HGLD PiV LGHQWLILFDGR FRQ ORV FRQRFLGRV FRPR 0RYLPLHQWRV GH
5HVLVWHQFLD*OREDOHV
D,QWHUQHW
E/DUDGLR
F/DSUHQVDHVSHFLDOL]DGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&RQHOILQGHSRQHURUGHQHQORVPHUFDGRVFDPELDULRV\IDYRUHFHUHOFRPHU
FLRLQWHUQDFLRQDOWUDVOD6HJXQGD*XHUUD0XQGLDOTXpRUJDQL]DFLyQLQWHUQDFLRQDO
VHFUHy"
D(O)0,)RQGR0RQHWDULR,QWHUQDFLRQDO
E(O%0%DQFR,QWHUQDFLRQDOGH5HFRQVWUXFFLyQ\'HVDUUROORR%DQFR0XQGLDO
/DDQWtWHVLVGHO)RUR(FRQyPLFR0XQGLDOGH'DYRVVHUtD
D/D&RQIHUHQFLDGH5tR
E/D&RQIHUHQFLDGH(VWRFROPR
F(O)RUR6RFLDO0XQGLDOGH3RUWR$OHJUH
(QHO)RUR6RFLDO0XQGLDOGH3RUWR$OHJUHVHGHILHQGHODQHFHVLGDGGH
D 0iV LQWHUYHQFLRQLVPR SDUD FRQVHJXLU XQD PHMRU GLVWULEXFLyQ GH ULTXH]D D HVFDOD
PXQGLDO
F0D\RUGHVDUUROORFLHQWtILFRWpFQLFR
6LSHQVDPRVHQORFRPSOHMRTXHUHVXOWDODHVFULWXUDiUDEHFRPSDUDGDFRQ
ODIDFLOLGDGTXHVXSRQHODRFFLGHQWDOFDHPRVHQXQSUHMXLFLRGHQRPLQDGR
D(WQRFHQWULVPR
E;HQRIRELD
F'RJPDWLVPR
(OPLHGRODGHVFRQILDQ]DODKRVWLOLGDGKDFLDORH[WUDxRHQJOREDODVVHQVD
FLRQHVSURSLDVGH
D(OUDFLRQDOLVPR
E(OUDFLVPR
F/D[HQRIRELD
/RFRQWUDULRGHHWQRFHQWULVPRHV
D*UXSRFHQWULVPR
E;HQRIRELD
6HFRQVLGHUDHIHFWRSRVLWLYRGHODJOREDOL]DFLyQ
D(ODXPHQWRGHOVXEGHVDUUROOR
E(OLQFUHPHQWRGHDFFHVRDODLQIRUPDFLyQTXHIDYRUHFHHOLQWHUFDPELRFXOWXUDO
F(OFUHFLPLHQWRGHODGHVLJXDOGDGHQWUHORVSDtVHVULFRV\ORVSREUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O0RYLPLHQWRGH5HVLVWHQFLD*OREDOHVXQDFRUULHQWHGHSURWHVWDPXQGLDO
TXHD~QDDGHFHQDVGHJUXSRVGLIHUHQWHVTXHWLHQHQHQFRP~Q
D6XUHFKD]RDOFDSLWDOLVPR\DOPRGHORQHROLEHUDO
E6XDSR\RDOPRGHORQHROLEHUDOLPSODQWDGRHQORV(VWDGRV8QLGRV
F6XVRSRUWHDODVSROtWLFDVGHOD2UJDQL]DFLyQ0XQGLDOGHO&RPHUFLR
,QGLTXHODDILUPDFLyQFRUUHFWDUHVSHFWRDOD7DVD7RELQ
D(VXQLPSXHVWRHXURSHRTXHJUDYDODVWUDQVDFFLRQHVFRPHUFLDOHVLQWHUQDFLRQDOHV
E(VXQLPSXHVWRKLSRWpWLFRVREUHHOIOXMRGHFDSLWDOHVHQHOPXQGR
F(VHOJUDYDPHQTXHDSOLFDOD218DODVRSHUDFLRQHVHVSHFXODWLYDVFRPRIXHQWHGH
ILQDQFLDFLyQSDUDFRPEDWLUODSREUH]DHQHOPXQGR
(OVLVWHPDpWLFRFRQVLVWHQWHHQODVXSUHPDFtDUHODWLYDGHXQDVFXOWXUDVUHV
SHFWRDRWUDVHVGHFLUHQDFHSWDUODVGLIHUHQFLDVFXOWXUDOHVHVHOFRQFHSWRGH
D(WQRFHQWULVPR
E5HODWLYLVPRFXOWXUDO
F5DFLVPR
4Xp VLJQLILFD HO DFUyQLPR )0, HQ UHODFLyQ FRQ HO SURFHVR GH JOREDOL]D
FLyQ"
D)HGHUDFLyQ0XQGLDOGH,QPLJUDFLyQ
E)UHQWH0XQGLDOGH,QWHJUDFLyQ
F)RQGR0RQHWDULR,QWHUQDFLRQDO
05*VRQODVVLJODVFRUUHVSRQGLHQWHVD
D0RYLPLHQWR5D]RQDEOH*OREDO
E/RVPRYLPLHQWRVDQWLJOREDOL]DFLyQ
F0XQGLDOL]DFLyQ5HJXODU*OREDOL]DGD
&RPRREMHWLYRGHODDQWLJOREDOL]DFLyQILJXUD
D/DFRQGRQDFLyQGHODGHXGDDSDtVHVSREUHV
E'HIHQVDGHORVGHUHFKRVGHPLQRUtDGHVIDYRUHFLGDV
6HxDOHFXiOQRHVXQDFRQVHFXHQFLDGHOSURFHVRGHJOREDOL]DFLyQ
D7HQGHQFLDDODVHFXODUL]DFLyQ
E+RPRJHQHL]DFLyQGHYDORUHV
F3URWHFFLyQ\PHMRUDPHGLRDPELHQWDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HFRQVLGHUDHIHFWRSRVLWLYRGHODJOREDOL]DFLyQ
D(ODXPHQWRGHOVXEGHVDUUROOR
E/DGHVORFDOL]DFLyQGHHPSUHVDV
F(OLQFUHPHQWRGHODFFHVRDODLQIRUPDFLyQTXHIDYRUHFHHOLQWHUFDPELRFXOWXUDO
4XLpQHVYHQODJOREDOL]DFLyQFRPRXQSUR\HFWRSDUDPHMRUDUORVEHQHILFLRV
GHODVHOLWHVPXQGLDOHV"
D/RVQHROLEHUDOHV
E/RVDFUtWLFRVGHOIHQyPHQRGHODJOREDOL]DFLyQ\HQVLQWRQtDFRQHOPRYLPLHQWRFRQWUDULR
F/RVFUtWLFRVGHOIHQyPHQRGHODJOREDOL]DFLyQ
6LKDEODPRVGHXQSURFHVRFRQWLQXR\GLQiPLFRFX\DVFRQVHFXHQFLDVHQ
WUHRWUDVHVODSpUGLGDSDXODWLQDGHOSRGHUVREHUDQRGHORVSDtVHVHQSURGHXQD
LGHQWLGDGVXSUDQDFLRQDOQRVHVWDPRVUHILULHQGRD
D0RYLPLHQWRVDQDUTXLVWDV
E,GHRORJtDDOWHUPXQGLDOLVWD
F3URFHVRGHJOREDOL]DFLyQ
&XDQGRKDEODPRVGHOD*OREDOL]DFLyQGHVGHXQSXQWRGHYLVWDDFUtWLFRHQ
GHILQLWLYDHVWDPRVKDEODQGRGHOFRQFHSWRVLPLODUDOTXHGHODPLVPDSXHGHQWHQHU
D/RVQHROLEHUDOHV
E/RVSRVLWLYLVWDV
F/RVSURJUHVLVWDV
4XpIUDVHSURQXQFLDGDHQ3RUWR$OHJUHSRU%HUQDUG&DVVHQSUHVLGHQWHGH
$77$&VHKDFRQYHUWLGRHQODFDUWDGHSUHVHQWDFLyQGHODDQWLJOREDOL]DFLyQ"
D8QD$OGHD*OREDO
E2WURPXQGRHVSRVLEOH
F3UROHWDULRVGHOPXQGRXQtRV
8QRGHORVVLJXLHQWHVSHUVRQDMHVIRUPDSDUWHGHOFRPSOHMR\KHWHURJpQHR
PXQGRGHODUHVLVWHQFLDJOREDO
D9DQGDQD6KLYD
E6XVDQ*HRUJH
F$PERVSHUVRQDMHV
/DVPXOWLQDFLRQDOHVFRPR0F'RQDOGVR1LNHVRQEODQFRGHORVJUXSRVDQWL
JOREDOL]DFLyQTXHWLOGDQGHDPRUDOHVODVSUiFWLFDVGHODFRPSDxtDHVSHFLDOPHQWH
D/DFRPSUDGHELHQHVLQPXHEOHVDSHFLRVGHVDOGR
E/DH[SORWDFLyQGHWUDEDMDGRUHVGHO7HUFHU0XQGRHQVXPD\RUtDPXMHUHV\QLxRV
F/DFRQWDPLQDFLyQ\H[SORWDFLyQH[FHVLYDGHPHGLRVTXHFRQVWDQWHPHQWHUHDOL]DQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DJOREDOL]DFLyQGHORVPHUFDGRVIXHODIUDVHTXHGLROXJDUDOWpUPLQR*OR
EDOL]DFLyQ\IXHSURSXHVWDSRU
D7KHRGRUH/HYLWW
E0DUVKDOO0F/XJKDQ
F-RKQ6PLWK
(QHVWHPXQGRJOREDOL]DGRORVIOXMRVGHFDSLWDOHVGHULYDQGHXQDVEROVDVD
RWUDVHQWLHPSRUHDOWDOFRPRVLORVSDUWtFLSHVHVWXYLHVHQSUHVHQWHVSHUVRQDOPHQ
WHHQHVDVWUDQVDFFLRQHVPRQHWDULDVHOORHVGHELGRIXQGDPHQWDOPHQWH
D$ODH[SDQVLyQGHODPXOWLQDFLRQDOHV
E$OGHVDUUROORGHODV7,&
F$OGHVHTXLOLEULRHFRQyPLFRHQWUHHO1RUWH\HO6XU
/DOLEHUDFLyQGHODVWUDQVDFFLRQHVGHELHQHV\VHUYLFLRVVHSXHGHHQWHQGHU
FRPRXQWLSRGHJOREDOL]DFLyQ
D&XOWXUDO
E)LQDQFLHUD
F&RPHUFLDO
(OHTXLOLEULRH[LVWHQWHHQODJOREDOL]DFLyQSXUDPHQWHILQDQFLHUDHQODTXH
ORVIOXMRVGHFDSLWDOHVVHPXHYHQVLQFRUWDSLVDVGHIURQWHUDVJHRJUiILFDVHVVLPLODU
DOTXHH[LVWHHQ
D/DJOREDOL]DFLyQFRPHUFLDO
E/DJOREDOL]DFLyQGHODPLJUDFLyQ
F1LQJXQDGHODVGRVUHVSXHVWDVVRQFRUUHFWD
/DVDFWLYLGDGHVTXHDIHFWDQDODJOREDOL]DFLyQHFRQyPLFDVRFLDOSROtWLFDR
FXOWXUDOQRVHGHVDUUROODQSRULJXDO\DTXHHOFDSLWDOVHPXHYHDJUDQHVFDODHQWUH
GLVWLQWRV SDtVHV VLQ FRUWDSLVDV PLHQWUDV TXH HO IOXMR KXPDQR ODV PLJUDFLRQHV
WLHQHQDXWpQWLFDGLILFXOWDGGHFLUFXODFLyQHQHVWRFRQVLVWHXQDFDUDFWHUtVWLFDGHOD
JOREDOL]DFLyQOODPDGD
D$VLPHWUtD
E'HVKXPDQL]DFLyQ
F,QWUDQVLJHQFLD
6HxDOHODIUDVHFRUUHFWDUHVSHFWRDODVFRQVHFXHQFLDVGHODJOREDOL]DFLyQ
D/RVSDtVHVFDGDYH]VRQPHQRVLQGHSHQGLHQWHV\ORVJRELHUQRVPHQRVGHFLVRULRV
E/DVLQVWLWXFLRQHVTXHPDQHMDQORVKLORVGHODJOREDOL]DFLyQ20&)0,%0*DF
W~DQDOPDUJHQGHODUHSUHVHQWDFLyQSROtWLFDGHORVSDtVHVLPSRQLHQGRVXVFULWHULRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QDOJXQRVGHIHQVRUHVGHORVPRYLPLHQWRVDQWLJOREDOL]DFLyQHVWHWpU
PLQRQRHVWiFRUUHFWDPHQWHHPSOHDGRSXHVWRTXHQRVHWUDWDGHLUHQFRQWUDGHOD
HVHQFLDGHODJOREDOL]DFLyQVLQRGHTXHpVWDVHGHVDUUROOHHQWpUPLQRVPiVDFHS
WDEOHVDODVPLQRUtDV4XpWpUPLQRSUHILHUHQHVRVFROHFWLYRV"
D*OREDOL]DFLyQLQFOXVLYD
E,QWUDJOREDOL]DFLyQ
F1XHYDJOREDOL]DFLyQ
6HxDOHODUHVSXHVWDTXHFRQWHQJDDOJ~QFROHFWLYRQRLGHQWLILFDGRFRQORV
PRYLPLHQWRVGHUHVLVWHQFLDJOREDORDQWLJOREDOL]DFLyQ
D1HRFRPXQLVWDVDQDUTXLVWDVHFRORJLVWDV
E+LSSLHVHVWXGLDQWHVPXOWLQDFLRQDOHV\KDFNHUV
F$QWLPLOLWDULVWDV21*VPRYLPLHQWRVXQGHUJURXQG
/D KLVWRULD GH ORV 0RYLPLHQWR GH 5HVLVWHQFLD *OREDO HV UHODWLYDPHQWH UH
FLHQWH\DTXHSRGtDPRVGDWDUVXFRPLHQ]RHQHQORV(QFXHQWURV,QWHUFRQWL
QHQWDOHVSRUOD+XPDQLGDG4XLpQRUJDQL]yHVWRVPRYLPLHQWRVSRUSULPHUDYH]"
D/RVDQDUTXLVWDV\ORVHFRORJLVWDV
E/RVSDtVHVGHO(VWH
F(O(MpUFLWR=DSDWLVWD1DFLRQDOGH/LEHUDFLyQ
4XpHVHO*"
D8QJUXSRSHUWHQHFLHQWHDODUHVLVWHQFLDJOREDO
E/DUHXQLyQGHORVPDQGDWDULRVGHORVRFKRSDtVHVPiVGHVDUUROODGRVHLQIOX\HQWHV
GHOPXQGR
F /DUHXQLyQ GH ODV RFKR RUJDQL]DFLRQHV PXQGLDOHV TXHPDQHMDQ ODV ILQDQ]DVHQHO
PXQGR
(OOHPDRWURPXQGRHVSRVLEOHVHDFXxyHQODVLJXLHQWHUHXQLyQLQWHUQD
FLRQDO
D)RUR6RFLDO0XQGLDO)60
E/DSULPHUDFXPEUHGHO*
F(O7UDWDGRGH.LRWRVREUHORVJDVHVLQYHUQDGHUR
/DVWiFWLFDVGHFHQVXUDSURSDJDQGDRGHVLQIRUPDFLyQTXHORVPHGLRVGH
FRPXQLFDFLyQ GH PDVDV SURGLJDQ VHJ~Q ORV PRYLPLHQWRV DQWLJOREDOL]DFLyQ SDUD
SURWHJHUORVIXQGDPHQWRVGHODJOREDOL]DFLyQVHFRQRFHQFRPR
D7iFWLFDDPDULOOD
E3UHVLyQJOREDO
F(QWHWDPLHQWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(O)RURGH'DYRVTXHVHUH~QHDQXDOPHQWHHQ6XL]DWLHQHXQFRQWHQLGR
IXQGDPHQWDOPHQWH
D(FRQyPLFR
E6RFLDO
F&XOWXUDO
8QD UHG PXQGLDO GHQWUR GH ,QWHUQHW GH ORV OODPDGRV &HQWURV GH 0HGLRV
,QGHSHQGLHQWHVFUHDGDHQFRPRDOWHUQDWLYDDOLPSHULRGHORVJUDQGHVPDVV
PHGLDVHFRQRFHFRPR
D)RUR,QGHSHQGLHQWH
E,QG\0HGLD
F0DVV0HGLD/LEUH
/DGRFWULQDGRPLQDQWHHQHOVLVWHPDSROtWLFRHFRQyPLFRPXQGLDO\TXHVHKD
LGRLPSRQLHQGRHQWRGRVORVSDtVHVVHJ~QODFXDOODLQLFLDWLYDGHGHVDUUROORSDUWH
GHOLQGLYLGXRHVGHFDUiFWHUSULYDGR\HVWiOLEUHGHOLQWHUYHQFLRQLVPRHVWDWDOHV
D,QWHUYHQFLRQLVPR
E6RFLDOLVPRGHPRFUiWLFR
F1HROLEHUDOLVPR
$OJXQRVSDtVHVKDQVLGRDIHFWDGRVSRUORVHIHFWRVGHXQDJOREDOL]DFLyQHFR
QyPLFDUDGLFDO$TXpQRVUHIHULPRVFXDQGRKDEODPRVGHOHIHFWR7DQJR"
D$ODFULVLVVXIULGDHQODHFRQRPtD$UJHQWLQD
E$OUHERWHHFRQyPLFRTXHSXHGHD\XGDUDODHFRQRPtDGHXQSDtVHQGHFOLYHVLVHOH
LQ\HFWDGLQHURH[WHUQR
F$ODFRQGRQDFLyQGHODGHXGDH[WHUQDDDOJ~QSDtVSDUDTXHUHIORWHVXHFRQRPtD
/RV (VWDGRV QDFLRQDOHV VH YHQ FRQGLFLRQDGRV HQ VXV GHFLVLRQHV SRU OD
DGRSFLyQGHPHGLGDVGHRWURVSDtVHVPiVSRGHURVRVSHUGLHQGRJUDQSDUWHGHVX
VREHUDQtDORTXHKDFHLPSUHVFLQGLEOHHOTXHVHWLHQGDDSRWHQFLDUODDOLDQ]DHQWUH
HOORVDOREMHWRGHFRQVHJXLUPD\RUSRGHUGHFLVRULR(VWHKHFKRSRGHPRVFRQVLGH
UDUORFRPR
D0X\QHJDWLYRSDUDODRUJDQL]DFLyQPXQGLDO
E8QDFRQVHFXHQFLDSROtWLFDGHODJOREDOL]DFLyQ
F)DOVRWRGDYH]TXHHQODDFWXDOLGDGVHHVWiQSRWHQFLDQGRODVVREHUDQtDVQDFLRQDOHV
8QDFRQVHFXHQFLDVRFLDOGHODJOREDOL]DFLyQSXHGHFRQVLGHUDUVH
D/DVLQPLJUDFLRQHVPDVLYDVHQEXVFDGHOELHQHVWDUGHSDtVHVPiVGHVDUUROODGRV
E8QDPD\RUVHSDUDFLyQGHQLYHOGHYLGDHQWUHORVSDtVHVGHO1RUWHUHVSHFWRDO6XU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHORVHIHFWRVVRFLDOHVFXOWXUDOHVGHODJOREDOL]DFLRQSRGHPRVGHFLUTXH
VHHVWiSURGXFLHQGRDQLYHOJHQHUDOXQDFODUDWHQGHQFLDD
D/DPHQRUSHUPHDELOLGDGHLQGHSHQGHQFLDGHODVFXOWXUDV
E8QDPHQRUSUHRFXSDFLyQDQLYHOPXQGLDOSRUORV'HUHFKRV+XPDQRV
F&ODUDWHQGHQFLDDODVHFXODUL]DFLyQ
'HELGRDOLQWHUFDPELRFXOWXUDOTXHSURSRUFLRQDQORVPHGLRVGHFRPXQLFD
FLyQVRFLDO\HOLQIOXMRGHODVSURGXFFLRQHVPHGLiWLFDVTXHVHGLVWULEX\HQSRUODV
FDGHQDVWHOHYLVLYDVGHWRGRHOPXQGRH[LVWHXQDFODUDWHQGHQFLDD
D/DKRPRJHQHL]DFLyQGHYDORUHV
E8QDXPHQWRGHODVVREHUDQtDVQDFLRQDOHV
F8QDFDGDYH]PD\RUGLVWDQFLDHQODLJXDODFLyQVRFLDOHQWUHKRPEUH\PXMHU
5HVSHFWRDOPHGLRDPELHQWHSRGHPRVGHFLUTXHHVWHSURJUHVLYRELHQHVWDU
TXHKDWUDtGRODJOREDOL]DFLyQDORVSDtVHVPiVGHVDUUROODGRVVHKDWUDGXFLGR
D(QXQDGHIHQVDFHUUDGD\KRPRJpQHDGHOPHGLRDPELHQWH
E8QDFDGDYH]PD\RUFRQFLHQFLDFLyQGHODVHPSUHVDVPXOWLQDFLRQDOHVHQODSURWHF
FLyQGHOPHGLRDPELHQWH
F8QGHWHULRURGHOPHGLRDPELHQWHDOQRFXPSOLUVHORVSDFWRVLQWHUQDFLRQDOHVSRUORV
SDtVHVPiVGHVDUUROODGRVIXQGDPHQWDOPHQWH
6HxDOHDTXHOODUHVSXHVWDTXHFRQWHQJDH[FOXVLYDPHQWHFRQFHSWRVGHIHQ
GLGRVSRUODDQWLJOREDOL]DFLyQ
D)HPLQLVPRGHVDUUROORVRVWHQLEOHSDFLILVPR\OLEHUDOLVPRHFRQyPLFR
E&DSLWDOLVPRDQDUTXLVPRFRPXQLVPR\HFRORJLVPR
F(FRQRPtDSDUWLFLSDWLYDPRYLPLHQWRVLQGLJHQLVWDVDQWLPLOLWDULVPR\DQDUTXLVPR
6LKDEODPRVGHPLFURFUpGLWRVFRPHUFLRMXVWREDQFDpWLFDHWFFRQFHS
WRVGHIHQGLGRVSRUOD$QWLJOREDOL]DFLyQHVWDPRVUHILULpQGRQRVDOFRQMXQWRGHFD
UDFWHUtVWLFDVTXHFRUUHVSRQGHD
D/D7DVD7RELQ
E/D/LEHUWDGGH&RPHUFLR
F(FRQRPtDVROLGDULD
6HxDOHXQSURSyVLWRTXHQRFRUUHVSRQGDDORGHIHQGLGRSRUODDOWHUPXQ
GLDOL]DFLyQ
D'HPRFUDFLDSDUWLFLSDWLYD\HOLPLQDFLyQGHODVEDUUHUDVDJUtFRODVHQOD8QLyQ(XURSHD
E/LEUHFLUFXODFLyQGHSHUVRQDV\UHIRUPDRVXSUHVLyQGHOD%020&HWF
F,QFUHPHQWRGHOJDVWRPLOLWDU\GHOOLEUHFRPHUFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QWUHORVPRYLPLHQWRVVRFLDOHV\DVRFLDFLRQHVTXHFRQIRUPDQHOKHWHURJp
QHRPXQGRGHODDQWLJOREDOL]DFLyQVHHQFXHQWUDQ
D&ROHFWLYRVGHJD\V\OHVELDQDVHFRORJLVWDV\DQDUTXLVWDV
E0RYLPLHQWRVFULVWLDQRVRNXSDV\SDFLILVWDV
(OWpUPLQRTXHVHXVDSDUDGHVFULELUODVWHRUtDVSROtWLFDVTXHSDUDHYLWDUOD
GHSHQGHQFLDDRWUDVQDFLRQHVSURPXHYHQXQFRQVXPRXQWUDEDMR\XQDIRUPDFLyQ
GHFDSLWDOLQWHUQRRSRQLpQGRVHDODJOREDOL]DFLyQHV
F(FRQRPtD6ROLGDULD
4XpDFFLyQKLVWyULFDGHORV~OWLPRVDxRVKDWHQLGRJUDQUHOHYDQFLDHQHO
DYDQFHGHOFRQFHSWRGHJOREDOL]DFLyQHFRQyPLFDHQHOPXQGR"
D/DOOHJDGDDOSRGHUGHXQSUHVLGHQWHQHJURHQORV(VWDGRV8QLGRV
E(ODWHQWDGRGHODV7RUUHV*HPHODVGH1XHYD<RUN
F/DFDtGDGHO0XURGH%HUOtQ
6HSXHGHGHFLUTXHODJOREDOL]DFLyQHVWiLPSRQLHQGRHQWRGRHOPXQGRHQ
FXDQWRDYDORUHVHVSLULWXDOHV\UHOLJLRVRVXQDFDGDYH]PD\RU
D6HFXODUL]DFLyQ
E7HQGHQFLDDORHVSLULWXDO
F,GHRORJtDDQWLPDWHULDOLVWD
/DYHORFLGDG\OLEHUWDGDOFDQ]DGDSRUORVFDSLWDOHVSDUDHQWUDU\VDOLUGH
SDtVHV\HPSUHVDVSURSLDVGHOPRYLPLHQWRJOREDOL]DGRUHVWiQDVRFLDGDVDXQDVH
ULHGHFULVLVHFRQyPLFDVILQDQFLHUDVORFDOHVGHLPSDFWRJOREDOWDOHVFRPR
D/DFDtGDGHO0XURGH%HUOtQ
E(OHIHFWR7DQJR6DPED'UDJyQHWF
F(OLPSDFWRGHODV7,&V
6HxDODUGHHQWUHODVUHVSXHVWDVDTXHOODVTXHFRQWHQJDQPHGLGDVTXHYDQ
HQFRQWUDGHODHVHQFLDGHOSURFHVRJOREDOL]DGRU
D/LEUHFRPHUFLR\HFRQRPtDGHPHUFDGR
E,QFUHPHQWRGHWDULIDVSURWHFFLRQLVWDV\GHVXEVLGLRV
F$SHUWXUDGHPHUFDGRVGHELHQHV\GHFDSLWDOHV
8QDFRQVHFXHQFLDGHOSURFHVRGHJOREDOL]DFLyQHV
D(OGHFDLPLHQWRGHORVQDFLRQDOLVPRV
E(ODEDQGRQRGHODLGHDLQWHUQDFLRQDOLVWD
F/DGLVPLQXFLyQGHORVIOXMRVPLJUDWRULRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QORWHFQROyJLFRODJOREDOL]DFLyQGHSHQGH
D'HODFUHDFLyQGHHQWLGDGHVVXSUDQDFLRQDOHV
E'HORVDYDQFHVHQODFRQHFWLYLGDGKXPDQD
F'HODWUDQVLFLyQGHRWUDVSROtWLFDVHFRQyPLFDVDOFDSLWDOLVPR
20&2&'()0,R%0VRQVLJODVTXHKD\TXHDVRFLDUD
D0RYLPLHQWRVSRSXODUHVGHDSR\RDORVSDtVHVPiVVXEGHVDUUROODGRV
E2UJDQL]DFLRQHVQRJXEHUQDPHQWDOHVDQWLPXQGLDOL]DFLyQ
F,QVWLWXFLRQHVEiVLFDVHQHOSURFHVRGHJOREDOL]DFLyQ
/DJOREDOL]DFLyQSROtWLFDVLJXHXQDOtQHDHYROXWLYDFODUDHQWUHFX\RVIXQ
GDPHQWRVVHHQFXHQWUD
D(OUHIRU]DPLHQWRGHODVQDFLRQHVHVWDGR
E(OGHVDUUROORWHFQROyJLFRUHODWLYRDODFRQHFWLYLGDGKXPDQD
F/DDSDULFLyQGHHQWLGDGHVVXSUDQDFLRQDOHVTXHGLVPLQX\HQODVREHUDQtDGHORV(VWDGRV
(QJHQHUDOORVDFWLYLVWDVVLPSDWL]DQWHVGHORVPRYLPLHQWRVDQWLPXQGLDOL
]DFLyQVRVWLHQHQXQDLGHRORJtD
D0X\GLVSDU\FRQWUDULDDOOLEHUDOLVPRHFRQyPLFR
E'HSHQVDPLHQWR~QLFRWHQGHQWHVDODPHMRUDGHODVUHODFLRQHVFRPHUFLDOHVHQWUHSDtVHV
F8QiQLPH\PRQROtWLFDHQGHIHQVDGHODOLEHUDOL]DFLyQGHPHUFDGRV
8QDFDUDFWHUtVWLFDIXQGDPHQWDOGHWRGRVORVFROHFWLYRVTXHIRUPDQHOPR
YLPLHQWRDQWLJOREDOL]DFLyQHV
D6XLGHRORJtDSROtWLFD\HFRQyPLFDFRP~Q
E6XUHFKD]RKDFLDHOFDSLWDOLVPR\HOPRGHORGHVRFLHGDGHFRQyPLFDDSOLFDGDSRUHO
QHROLEHUDOLVPR
F/RVPRYLPLHQWRDQWLJOREDOL]DFLyQQRWLHQHQDGDHQFRP~QDOVHUPX\KHWHURJpQHRV
(OSURFHVRGHJOREDOL]DFLyQHFRQyPLFDHVWiEDVDGRHQODDSOLFDFLyQDQLYHO
PXQGLDOGHXQD7HRUtDHFRQyPLFDGHQRPLQDGD1HROLEHUDOLVPR6HxDOHXQWpUPLQR
TXHVHUHILHUHDXQDWHRUtDRSXHVWDFRPSOHWDPHQWHDODVHxDODGD
D,QWHUYHQFLRQLVPR
E)XQGDPHQWDOLVPRGHPHUFDGR
F/LEUHFRPHUFLR
3UHGRPLQDHOVLVWHPDSURWHFFLRQLVWDHVWDWDOVREUHODLQLFLDWLYDSULYDGDHQ
HOVLJXLHQWHPRGHORHFRQyPLFR
D1HROLEHUDOLVPR
E,QWHUYHQFLRQLVPR
F1HRFRQVHUYDGXULVPR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QODDFWXDOLGDGSDUDUHIHULUQRVDORVSDtVHVFRQPD\RUHVtQGLFHVGHGH
VDUUROOR\ELHQHVWDUIXQGDPHQWDOPHQWHD(VWDGRV8QLGRV(XURSD\RWURVSDtVHVGH
ODPLVPDHVIHUDXWLOL]DPRVHOWpUPLQR
D3DtVHVDOLQHDGRV
E3DtVHVHPHUJHQWHV
F3ULPHUPXQGR
(QJHQHUDO\GHELGRDODSUHVLyQJOREDOL]DGRUDGHODHFRQRPtDVHYDLP
SRQLHQGR FDGD YH] PiV HO PRGHOR ~QLFR GHQRPLQDGR OLEHUDOLVPR GH PHUFDGR OR
TXHKDFHTXHDOJXQRV*RELHUQRVYD\DQFHGLHQGRODVHPSUHVDVHVWDWDOHVSDUDVX
DGPLQLVWUDFLyQSRUSDUWLFXODUHV$HVWHSURFHVRVHOHGHQRPLQD
D,QWHUYHQFLRQLVPR
E3ULYDWL]DFLyQ
F&RORQLDOLVPR
(FRQRPtDVROLGDULDODEDQFDpWLFDHPSUHVDVDVRFLDWLYDVHOPLFURFUpGLWR
HWFVRQWpUPLQRVTXHVHLGHQWLILFDQPiVFRQ
D/DDQWLJOREDOL]DFLyQ
E(O%DQFR0XQGLDO
F(O1HROLEHUDOLVPR
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E8QVLVWHPDHFRQyPLFRJOREDOTXHLQIOX\HHQORVHFRVLVWHPDVFRQUHSHUFXVLRQHV
SROtWLFDV\VRFLDOHV
D6HRSRQHQDOVLVWHPDGHLQWHUFDPELRSRUFRQVLGHUDUORPiVSHUMXGLFLDOTXHEH
QHILFLRVR
E(OLQWHUFDPELRILQDQFLHUR
E$VLPHWUtD
F,QYHVWLJDFLyQ\'HVDUUROOR
F(OQHROLEHUDOLVPR
D5RVD
E'H6XUD1RUWH
D6HSURGXFHHQWRGDVODVGLUHFFLRQHVDXQTXHWUDWDQGHLPSRQHUVHODVFXOWXUDV
PiVGRPLQDQWHV
F/DVGRVDQWHULRUHVVHYHQDIHFWDGDVSRUODJOREDOL]DFLyQ
F(WQRFHQWULVPR
D7,&
E/DFRQGRQDFLyQGHODGHXGDGHORVSDtVHVPiVGHVIDYRUHFLGRV
E0RYLPLHQWRVGH5HVLVWHQFLD*OREDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F0XOWLQDFLRQDOHV
D6HDWWOHHQ
E/RVSDtVHVSURGXFWRUHVGHPDWHULDVSULPDV
D(O7UDWDGRGH/LEUH&RPHUFLRGH$PpULFDGHO1RUWH
E7DVD7RELQ
D0D\RUHVGLIHUHQFLDVHQWUHORVSDtVHVULFRV\SREUHV
E 3URJUHVLYR FRPSURPLVR GH WRGRV ORV SDtVHV HQ OD SURWHFFLyQ GH ORV GHUHFKRV
KXPDQRV
E5D]D
E/D*OREDOL]DFLyQSHUVLJXHODFRQTXLVWDGHORVPHUFDGRV
F%ORTXHQHJUR
F8QODUJRSURFHVRLQDFDEDGRHQHOTXHHOFDSLWDOOXFKDSRUDPSOLDUVXGRPLQLR
E0DUVKDOO0F/XKDQ
F8QWpUPLQRTXHORV05*SUHILHUHQDOGHDQWLJOREDOL]DFLyQ
DQGLFHGHELHQHVWDUHFRQyPLFRVRVWHQLEOH
F$O)RQGR6RFLDO0XQGLDO
D$SOLFDPRVXQFODURUHODWLYLVPRFXOWXUDO
D6HJUHJDFLyQ
F'HZH\
D/DGLVPLQXFLyQGHFRQVXPR
E/DH[SDQVLyQGHORV'HUHFKRV+XPDQRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D0iVSHUVRQDVOOHJDQDEHQHILFLDUVHGHPD\RUHVEHQHILFLRV
D(OGHVDUUROORGHODVFRPXQLFDFLRQHVSDUWLFXODUPHQWH,QWHUQHW
F$OGHDJOREDO
E/RVPDVVPHGLD
F0XQGLDOL]DFLyQ
D(VPX\KHWHURJpQHRHQFXDQWRDORVJUXSRVTXHORIRUPDQ
E/RV(QFXHQWURV,QWHUFRQWLQHQWDOHVSRUOD+XPDQLGDG
D'HVREHGLHQFLDFLYLO\PDQLIHVWDFLRQHVQRYLROHQWDV
F(OHVWDEOHFLPLHQWRGHOD7DVD7RELQ
D2&'(
F-RKQ=HU]DQ
F7HQGHQFLDFODUDDODLJXDODFLyQVRFLDOGHODPXMHU\HOKRPEUH
E(WQRFHQWULVPR
D5HODWLYLVPRFXOWXUDO
D(WQLD
E'LVPLQXFLyQGHOFRPHUFLRLQWHUQDFLRQDO
F'LVFULPLQDFLyQ
F5DFLVPR
E;HQRIRELD
D,QWHUQHW
F(O)RUR6RFLDO0XQGLDOGH3RUWR$OHJUH
D0iVLQWHUYHQFLRQLVPRSDUDFRQVHJXLUXQDPHMRUGLVWULEXFLyQGHULTXH]DDHVFDOD
PXQGLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D(WQRFHQWULVPR
F/D[HQRIRELD
E(OLQFUHPHQWRGHDFFHVRDODLQIRUPDFLyQTXHIDYRUHFHHOLQWHUFDPELRFXOWXUDO
D6XUHFKD]RDOFDSLWDOLVPR\DOPRGHORQHROLEHUDO
E(VXQLPSXHVWRKLSRWpWLFRVREUHHOIOXMRGHFDSLWDOHVHQHOPXQGR
F)RQGR0RQHWDULR,QWHUQDFLRQDO
E/RVPRYLPLHQWRVDQWLJOREDOL]DFLyQ
F3URWHFFLyQ\PHMRUDPHGLRDPELHQWDO
F(OLQFUHPHQWRGHODFFHVRDODLQIRUPDFLyQTXHIDYRUHFHHOLQWHUFDPELRFXOWXUDO
F/RVFUtWLFRVGHOIHQyPHQRGHODJOREDOL]DFLyQ
F3URFHVRGHJOREDOL]DFLyQ
D/RVQHROLEHUDOHV
E2WURPXQGRHVSRVLEOH
F$PERVSHUVRQDMHV
E/DH[SORWDFLyQGHWUDEDMDGRUHVGHO7HUFHU0XQGRHQVXPD\RUtDPXMHUHV\QLxRV
D7KHRGRUH/HYLWW
E$OGHVDUUROORGHODV7,&
F&RPHUFLDO
F1LQJXQDGHODVGRVUHVSXHVWDVVRQFRUUHFWDV
D$VLPHWUtD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D*OREDOL]DFLyQLQFOXVLYD
E+LSSLHVHVWXGLDQWHVPXOWLQDFLRQDOHV\KDFNHUV
F(O(MHUFLWR=DSDWLVWD1DFLRQDOGH/LEHUDFLyQ
E/DUHXQLyQGHORVPDQGDWDULRVGHORVRFKRSDtVHVPiVGHVDUUROODGRVHLQIOX
\HQWHVGHOPXQGR
D)RUR6RFLDO0XQGLDO)60
F(QWHWDPLHQWR
D(FRQyPLFR
E,QG\0HGLD
F1HROLEHUDOLVPR
D$ODFULVLVVXIULGDHQODHFRQRPtD$UJHQWLQD
E8QDFRQVHFXHQFLDSROtWLFDGHODJOREDOL]DFLyQ
F&ODUDWHQGHQFLDDODVHFXODUL]DFLyQ
D/DKRPRJHQHL]DFLyQGHYDORUHV
F8QGHWHULRURGHOPHGLRDPELHQWHDOQRFXPSOLUVHORVSDFWRVLQWHUQDFLRQDOHVSRU
ORVSDtVHVPiVGHVDUUROODGRVIXQGDPHQWDOPHQWH
F(FRQRPtDSDUWLFLSDWLYDPRYLPLHQWRVLQGLJHQLVWDVDQWLPLOLWDULVPR\DQDUTXLVPR
F(FRQRPtDVROLGDULD
F,QFUHPHQWRGHOJDVWRPLOLWDU\GHOOLEUHFRPHUFLR
F/DFDtGDGHO0XURGH%HUOtQ
D6HFXODUL]DFLyQ
E(OHIHFWR7DQJR6DPED'UDJyQHWF
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E,QFUHPHQWRGHWDULIDVSURWHFFLRQLVWDV\GHVXEVLGLRV
D(OGHFDLPLHQWRGHORVQDFLRQDOLVPRV
E'HORVDYDQFHVHQODFRQHFWLYLGDGKXPDQD
F,QVWLWXFLRQHVEiVLFDVHQHOSURFHVRGHJOREDOL]DFLyQ
F/DDSDULFLyQGHHQWLGDGHVVXSUDQDFLRQDOHVTXHGLVPLQX\HQODVREHUDQtDGHORV
(VWDGRV
D0X\GLVSDU\FRQWUDULDDOOLEHUDOLVPRHFRQyPLFR
E6XUHFKD]RKDFLDHOFDSLWDOLVPR\HOPRGHORGHVRFLHGDGHFRQyPLFDDSOLFDGD
SRUHOQHROLEHUDOLVPR
D,QWHUYHQFLRQLVPR
E,QWHUYHQFLRQLVPR
F3ULPHUPXQGR
E3ULYDWL]DFLyQ
D/DDQWLJOREDOL]DFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
62&,$/,=$&,175$160,6,1'(9$/25(6(1/$62&,('$'$&78$/
/,%(57$'5(63216$%,/,'$',*8$/'$'62/,'$5,'$'72/(5$1&,$
&2175$9$/25(65($&&,21(662&,$/(6$/269$/25(60$<25,7$5,26
5$&,602)$1$7,602)81'$0(17$/,6026(&7$5,602+22/,*$1,602
/DUHVSRQVDELOLGDGWLHQHTXHYHUFRQ
D/DVHJXULGDG
E/DLJXDOGDG
F/DOLEHUWDG
(OSURFHVRGHVRFLDOL]DFLyQSUHVHQWDORVVLJXLHQWHVDVSHFWRV
D$GTXLVLFLyQGHFXOWXUDLQWHJUDFLyQGHODFXOWXUDHQODSHUVRQDOLGDGDGDSWDFLyQDO
HQWRUQR
E(QFXOWXUDFLyQDFXOWXUDFLyQWUDQVFXOWXUDFLyQ
F(ODSUHQGL]DMH\ODLQWHULRUL]DFLyQGHORWUR
(QTXpHWDSDVHSURGXFHODGHVRFLDOL]DFLyQ"
D(QODVRFLDOL]DFLyQSULPDULD
E(QODVRFLDOL]DFLyQVHFXQGDULD
F(QODVRFLDOL]DFLyQWHUFLDULD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HxDOHODUHSXHVWDFRUUHFWDUHVSHFWRDODWROHUDQFLDFRPRYLUWXGGHODGHPR
FUDFLD
D&RQVLVWHHQODSHUPLVLYLGDGGHFXDOTXLHUFRQGXFWD
E6HKDGHHVWDEOHFHUXQOtPLWHDORWROHUDEOH\ORLQWROHUDEOH
F&RQVLVWHHQSHUPLWLUVyORDTXHOODVFRQGXFWDVTXHVHDFHSWHQFXOWXUDOPHQWHHQQXHV
WURHQWRUQR
4XLpQHVWDEOHFLyHOFRQFHSWRGHSUHSRWHQFLDDOUHIHULUVHDOFXPSOLPLHQWR
MHUDUTXL]DGRGHODVQHFHVLGDGHVGHOKRPEUHHQVRFLHGDG"
D0HUWRQ
E0DVORZ
F3LDJHW
/DSDUWHSVtTXLFDLQQDWDHQHOKRPEUHVHGHQRPLQD
D3HUVRQDOLGDG
E&DUiFWHU
F7HPSHUDPHQWR
(QWUHODVIXQFLRQHVGHODIDPLOLDVHJ~Q0XUGRFNQRILJXUDODVLJXLHQWH
D/DGHFRRSHUDFLyQ
E/DSURFUHDGRUD
F/DGHLQWHJUDFLyQ
(OSURFHVRSRUHOTXHDXQDSHUVRQDGHDYDQ]DGDHGDGQROHVLUYHJUDQSDUWH
GHORDSUHQGLGR\DTXHODVQRUPDV\YDORUHVVRFLDOHVYDQFDPELDQGR\SRUORWDQWR
QRVRQGHDSOLFDFLyQSDUDHVHPRPHQWRGHODVRFLHGDGVHGHQRPLQD
D$FXOWXUDFLyQ
E6tQGURPHGH(VWRFROPR
F'HVRFLDOL]DFLyQ
6ROLGDULGDGWLHQHTXHYHUIXQGDPHQWDO\GLUHFWDPHQWHFRQHOFRQFHSWRGH
D/LEHUWDG
E7ROHUDQFLD
F,JXDOGDG
/DV YHQWDMDV TXH OD VRFLHGDG FRQFHGH D SHUVRQDV FRQ DOJXQD PLQXVYDOtD
RGHVIDYRUHFLGRVHFRQyPLFDPHQWHDOREMHWRGHTXHVHFRQVLJDXQDLJXDOGDGPiV
UHDOVHFRQRFHFRPR
D'LVFULPLQDFLyQSRVLWLYD
E6ROLGDULGDG
F'LVFULPLQDFLyQLQGLUHFWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XDQGRXQDQRUPDWLYDFRQWUDWRRSDFWRDSDUHQWHPHQWHQHXWURVDOWUDWDU
SRULJXDODWRGDVODVSDUWHVSXHGDRFDVLRQDUXQDGHVYHQWDMDDXQDSHUVRQDSRUVX
PLQXVYDOtDRGLVFDSDFLGDGVHKDEODGH
D,OHJDOLGDG
F,QVROLGDULGDG
/DSHUPLVLYLGDGHQODUHDOL]DFLyQGHFRQGXFWDVRFRPSRUWDPLHQWRVQRDFRU
GHVFRQQXHVWURVSULQFLSLRVHQDUDVGHXQDPHMRUFRQYLYHQFLDHLQWHJUDFLyQVRFLDO
HVHOFRQFHSWRGH
D5HVSRQVDELOLGDG
E7ROHUDQFLD
F6ROLGDULGDG
/DDFWLWXGKRVWLODORELROyJLFDPHQWHGLVWLQWRHQFXDQWRDSHUVRQDVHV
D5DFLVPR
E;HQRIRELD
F(WQRFHQWULVPR
/DGHIHQVDDXOWUDQ]DGHXQDVLGHDVHODSDVLRQDPLHQWRGHVPHVXUDGROD
REVHVLyQH[WUHPDSRUDOJRHV
D6HFWDULVPR
E,QWROHUDQFLD
F)DQDWLVPR
6LKDEODPRVGHXQDVRFLHGDGHQODTXHSULPDODLQGLYLGXDOLGDGVREUHODFR
OHFWLYLGDGFRQXQDJUDQGLYLVLyQGHOWUDEDMRWHQLHQGRHQFXHQWDD'XUNKHLPQRV
HVWDPRVUHILULHQGRDOFRQFHSWRGH
D6ROLGDULGDGRUJiQLFD
E6ROLGDULGDGPHFiQLFD
F6RFLHGDGWUDGLFLRQDO
8QDVRFLHGDGHQTXHORVLQGLYLGXRVPDQWLHQHQXQRVOD]RVVRFLDOHVEDVDGRV
HQXQDPRUDOFRP~Q\HQODTXHH[LVWHXQIXHUWHVHQWLGRGHSHUWHQHQFLDHV
D8QDVRFLHGDGWUDGLFLRQDO
E8QDVRFLHGDGFRQVROLGDULGDGPHFiQLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6LGHFLPRVTXHHVXQDHWDSDVRFLDOL]DGRUDHQODTXHWLHQHQLQIOXHQFLDPX
FKRVDJHQWHVGHVRFLDOL]DFLyQSHURQRGHXQDIXHU]DGHFLVLYDHQODIRUPDFLyQGHOD
SHUVRQDOLGDGGHOPLHPEURVRFLDOTXHVHVRFLDOL]DQRVUHIHULPRVD
D6RFLDOL]DFLyQ3ULPDULD
E6RFLDOL]DFLyQ0HFiQLFD
F6RFLDOL]DFLyQ6HFXQGDULD
(QODVVRFLHGDGHVGHPRFUiWLFDVODWROHUDQFLDHVXQYDORUDWHQHUPX\HQ
FXHQWD\DTXH
D'HEHSHUPLWLUVHDODVSHUVRQDVWRGRDTXHOORTXHFDGDXQRFRQVLGHUHQRUPDO
E1DGLHHVWiHQSRVHVLyQGHODYHUGDGDEVROXWD
F1RH[LVWHOtPLWHDODOLEHUWDGGHFDGDXQRGHORVPLHPEURVVRFLDOHV
(O DFDWDPLHQWR GH ODV QRUPDV VRFLDOHV DXQ HVWDQGR HQ GHVDFXHUGR FRQ
HOODVHVHOFRQFHSWRGH
D&RQIRUPLGDGVRFLDO
E,QWHULRUL]DFLyQGHODQRUPD
F,QWHUQDOL]DFLyQ
/DPD\RUtDGHORVPLHPEURVVRFLDOHVWLHQGHQDDFWXDUHQFRQVRQDQFLDFRQ
XQRVYDORUHV\PRGRVGHSHQVDUSUHGRPLQDQWHVHQHVDVRFLHGDG\HOORVHGHEHD
D/DFRDFFLyQGHVGHHOSRGHUFRPRPpWRGRSDUDFRQVHJXLUXQRUGHQVRFLDO
E4XHJHQpWLFDPHQWHSRVHHPRVHOLQVWLQWRGHORUGHQVRFLDO
F(OSURFHVRGHVRFLDOL]DFLyQ
/DDXVHQFLDGHPRGHORVGHUHIHUHQFLDSDUDJXLDUHOFRPSRUWDPLHQWRGHXQD
SHUVRQDRHOFRQIOLFWRTXHVHSXHGDSURGXFLUDODSOLFDUQRUPDVH[LVWHQWHVTXHSXH
GDQHQWUDUHQFRQWUDGLFFLyQ\TXHGLILFXOWHQODDGRSFLyQGHXQDFRQGXFWDGDOXJDU
DOFRQFHSWRVRFLROyJLFRGH
D$QRPLD
E,QGHFLVLyQ
F&RQWUDGLFFLyQ
$ODSRVLELOLGDGTXHWLHQHXQDSHUVRQDHQRUGHQDGHWHUPLQDUVXFRQGXFWD\
OOHYDUODDFDERHQFDGDVLWXDFLyQVHOHOODPD
D6RFLDOL]DFLyQ
E6HJXULGDG
F/LEHUWDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(ORGLRRDFWLWXGKRVWLOKDFLDORH[WUDxRRORGLVWLQWRHVXQFRQFHSWRPX\
FRQFUHWRTXHHQVRFLRORJtDVHGHQRPLQD
D;HQRIRELD
E5DFLVPR
F(WQRFHQWULVPR
/DFUHHQFLDGHTXHWRGRVORVUDVJRVFXOWXUDOHVSURSLRVVRQVXSHULRUHVDORV
GHFXDOTXLHURWUDFXOWXUDHV
D;HQRIRELD
E5DFLVPR
F(WQRFHQWULVPR
3DUD 0HUWRQ ODV SHUVRQDV TXH PDQWLHQHQ SUHMXLFLRV FRQWUD ODV PLQRUtDV
SHURSRUSUHVLyQVRFLDODFW~DQGHXQDPDQHUDLJXDOLWDULDHVWiQFODVLILFDGDVFRPR
D)DQiWLFRVDFWLYRV
E/LEHUDOHVWLELRV
F)DQiWLFRVWtPLGRV
6HxDOHHQWUHORVVLJXLHQWHVDTXHOUDVJRTXHQRSHUWHQH]FDDOWLSRGHSHUVR
QDOLGDGGHQRPLQDGRDXWRULWDULR
D&RQFHSWREDMRGHODFRQGLFLyQKXPDQD
E7HQGHQFLDDWHQHUHVWHUHRWLSRV
F$PEDVUHVSXHVWDVSHUWHQHFHQDOWLSRGHSHUVRQDOLGDGDXWRULWDULD
(OIXQGDPHQWDOLVPRHVXQDUHDFFLyQDODFUHFLHQWH
D6HFXODUL]DFLyQ
E'HPDQGDGHFRQVXPR
F,QFUHPHQWRSREODFLRQDO
3DUD0D[:HEHUODGLIHUHQFLDHQWUHXQDLJOHVLD\XQDVHFWDHVWULEDHQ
D/DLJOHVLDVHIXQGDPHQWDHQKHFKRVKLVWyULFRV
E/DVHFWDWLHQHXQDHVWUXFWXUDPHQRVRUJDQL]DGD\HVPiVSHTXHxD
F/DLJOHVLDWLHQHHOSRGHUGDGRGLUHFWDPHQWHSRU'LRV
(ORULJHQGHODVGHQRPLQDGDVWULEXVXUEDQDVHQODVJUDQGHVFLXGDGHVGH
ORVSDtVHVGHVDUUROODGRVKD\TXHVLWXDUOR
D(QODUHYROXFLyQLQGXVWULDO
E(QORVDxRVFLQFXHQWDGHOVLJORSDVDGR
F&RQODDSDULFLyQGHODVJUDQGHVFRPSHWLFLRQHVIXWEROtVWLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QHOKRROLJDQLVPRFRPRDJUXSDFLyQGHSHUVRQDVGHFDUiFWHUYLROHQWRWLH
QHXQDFRQQRWDFLyQHVSHFLDOUHVSHFWRDODVWULEXVXUEDQDV
D6XQ~PHURGHFRPSRQHQWHV
E6XVDFWXDFLRQHVPiVYLROHQWDVTXHODVWULEXVXUEDQDV
F6XLGHQWLGDGFRQHOI~WERO
6HxDOH OD UHVSXHVWD FRUUHFWD UHVSHFWR DO KRPEUH WHQLHQGR HQ FXHQWD VX
UHDOLGDGDQLPDO
D1DFHSHUVRQD
E6HKDFHSHUVRQD
F(VELROyJLFDPHQWHSHUIHFWR\QRQHFHVLWDD\XGDLQLFLDOSDUDVREUHYLYLU
(OSURFHVRSRUHOFXDOORVLQGLYLGXRVYDQDGTXLULHQGRODVSDXWDVFXOWXUDOHV
GHOJUXSRDOTXHSHUWHQHFHQGHIRUPDTXHVHFRQVLGHUHQSDUWHLQWHJUDQWHGHOPLV
PRDODYH]TXHYDIRUPDQGRVXSHUVRQDOLGDG
D(VXQSURFHVRVLHPSUHLQWHQFLRQDO
E(VHOSURFHVRGHVRFLDOL]DFLyQ
F(VLQQHFHVDULRGDGRTXHGHVGHTXHQDFH\DWLHQHJHQpWLFDPHQWHDGTXLULGDVHVWDV
SDXWDVGHFRQGXFWD
$ODUXSWXUDUDGLFDOGHXQRVKiELWRVGHFRQYLYHQFLDSDUDDVXPLURWURVWRWDO
PHQWHQXHYRVFXDQGRODSHUVRQDHVWiVRPHWLGDDXQDIRUPDGHYLGDFRPSOHWDPHQ
WHGLVWLQWD\EDMRH[LJHQFLDVPiVGXUDVDOJXQRVVRFLyORJRVODKDQGHQRPLQDGR
D5HVRFLDOL]DFLyQ
E6RFLDOL]DFLyQVHFXQGDULD
F6RFLDOL]DFLyQVHFXQGDULD
(OSURFHVRSRUHOTXHVHWUDQVPLWHQ\DSUHQGHQORVHOHPHQWRVVRFLRFXOWXUD
OHVFDUDFWHUtVWLFRVGHXQDVRFLHGDGVHFRQRFHFRPR
D6RFLDOL]DFLyQ
E)RUPDFLyQ
F(GXFDFLyQ
/DVRFLDOL]DFLyQHQHOVHQRIDPLOLDUHVXQSURFHVR
D0X\GHILQLGR\HVWUXFWXUDGR
E&RQWLQXR\GLIXVR
F&RQVFLHQWHFRQFUHWR\HVWUXFWXUDGR
/RVFRPSRQHQWHVTXHLQWHUDFW~DQHQXQDSHUVRQDVRQ
D%LROyJLFRSDWROyJLFR\SVLFROyJLFR
E6RFLROyJLFRSVLTXLiWULFR\VRPiWLFR
F6RFLROyJLFRSVLFROyJLFR\ELROyJLFR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XiOHVHODJHQWHSULPDULRPiVIXQGDPHQWDOGHODVRFLDOL]DFLyQ"
D/DHVFXHOD
E(O(VWDGR
F/DIDPLOLD
(ODJHQWHGHVRFLDOL]DFLyQVLPpWULFRHQFXDQWRLQIOXHQFLDVRFLDOL]DGRUDHQ
HOTXHVHFRPSDUWHQLQWHUHVHVFRPXQHVGHtQGROHJHQHUDFLRQDOGHFRQWUDVWHFRQ
RWURVPDWLFHVGHVRFLDOL]DFLyQHV
D/DUHODFLyQGHLJXDOHVRJUXSRGHDPLJRV
E/DIDPLOLD
F/RVPHGLRVGHFRPXQLFDFLyQ
'HWRGRVORVIDFWRUHVTXHLQIOX\HQHQODFDOLGDGGHODVRFLDOL]DFLyQHQHO
VHQRIDPLOLDUWDOYH]HOPiVUHOHYDQWH\TXHGHWHUPLQDXQDLQWHULRUL]DFLyQGHYDOR
UHVPiVLQWHQVD\HIHFWLYDHV
D/DDIHFWLYLGDGFRQTXHVHSURGXFHHODSUHQGL]DMH
E/DHVWUXFWXUDFLyQUtJLGDGHHVWHSURFHVR
F/DPD\RUQRUPDWLYLGDGFRQTXHVHUHDOL]DODVRFLDOL]DFLyQHQODIDPLOLD
(QUHODFLyQFRQODOLEHUWDGGHXQDSHUVRQDHQVRFLHGDGXQDGHODVUHVSXHV
WDVHVFRUUHFWD
D(OLQIOXMRVRFLDOGHWHUPLQDFRPSOHWDPHQWHHOFRPSRUWDPLHQWRGHORVVHUHVKXPDQRV
E(OKRPEUHHQVRFLHGDGQRHVWRWDOPHQWHOLEUH\DTXHQRSXHGHKDFHUHQFDGDLQV
WDQWHORTXHGHVHD
F8QUpJLPHQSROtWLFRGHPRFUiWLFRHVWRWDOPHQWHFRPSDWLEOHFRQHOGHWHUPLQLVPR
/DDXWpQWLFDLJXDOGDGVXSRQH
D'DUXQWUDWRLJXDODWRGDVODVSHUVRQDV
E([LJLUDWRGDVODVSHUVRQDVXQDUHVSRQVDELOLGDGLJXDO
F'DUXQWUDWRGHVLJXDODSHUVRQDVHQVLWXDFLRQHVGHVLJXDOHV
/DPRGLILFDFLyQGLQiPLFDGHODSURSLDFXOWXUDDOWHQHUXQDLQIOXHQFLDH[WHUQD
SRUSDUWHGHXQDFXOWXUDGLVWLQWDVHGHQRPLQD
D$FXOWXUDFLyQ
E(QFXOWXUDFLyQ
F'HVRFLDOL]DFLyQ
/RVFRQFHSWRVGHVROLGDULGDGRUJiQLFD\VROLGDULGDGPHFiQLFDVHGHEHQD
D0HUWRQ
E1HZFRPE
F'XUNKHLP
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDVRFLHGDGWUDGLFLRQDOPDQWLHQHXQWLSRGHVROLGDULGDGTXHVHFRQRFHHQ
VRFLRORJtDFRPR
D0HFiQLFD
E*HQHURVLGDG
F2UJiQLFD
([LVWHQ XQDV FDUDFWHUtVWLFDV GH OD VRFLDELOLGDG KXPDQD TXH OD GLVWLQJXHQ
LQHTXtYRFDPHQWHGHODGHORVDQLPDOHV
D(OWUDEDMRFUHDWLYR
E/DFXOWXUD
F$PERV
8QDVRFLHGDGHQODTXHQRH[LVWDUHDOPHQWHXQFRQVHQVRPRUDOSHURHQOD
TXHVXVPLHPEURVVHQHFHVLWDQXQRVDRWURVFRQPD\RUJUDGRGHLQGLYLGXDOLGDG\
OLEHUWDGSHURPHQRUJUDGRGHVHQWLGRGHSHUWHQHQFLDHV
D8QDVRFLHGDGWUDGLFLRQDO
E(OFRQFHSWRGHVROLGDULGDGRUJiQLFD
F8QDVRFLHGDGFRQVROLGDULGDGPHFiQLFD
3DUDTXHSXHGDKDEODUVHGHWROHUDQFLDHVQHFHVDULRTXHVHGHQDOJXQRR
DOJXQRVGHORVVLJXLHQWHVHOHPHQWRV
D4XHODDFFLyQTXHWROHUDPRVQRVGHVDJUDGH
E4XHWHQJDPRVFDSDFLGDGSDUDLPSHGLUGLFKDDFFLyQ
5DFLVPRVKRROLJDQLVPRVIXQGDPHQWDOLVPRVVHFWDULVPRVHWFVRQ
D([SUHVLRQHVVDQDVGHXQDVRFLHGDGGHPRFUiWLFD
E6XEFXOWXUDVTXHDSRUWDQVXVPDWLFHVDODFXOWXUDJHQHUDO
F([SUHVLRQHVGHFRQWUDYDORUHVUHSXGLDEOHVHQXQDVRFLHGDGGHPRFUiWLFD
/DHVWUXFWXUDGHODSHUVRQDOLGDGTXHVHJ~Q6LJPXQG)UHXGUHSUHVHQWDHO
SODFHUORTXHXQRGHVHDODSDUWHPiVKHGRQLVWDGHQXHVWUDSHUVRQDOLGDGHV
D(OLGRHOOR
E(OHJRR\R
F(OVXSHUHJRRVXSHU\R
&RQ FDUiFWHU JHQHUDO OD FRQGXFWD TXH QR VH DMXVWD D ODV QRUPDV GH XQD
VRFLHGDGVHGHQRPLQD
D'HVYLDFLyQVRFLDO
E&RQGXFWDHVWDEOHFLGD
F&RQGXFWDGHOLFWLYD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DIDOWDFODUDGHXQDQRUPDRODFRQWUDGLFFLyQHQWUHPHGLRV\REMHWLYRVVR
FLDOHVGDOXJDUD
D,QWROHUDQFLD
E$QRPLD
F3HUWXUEDFLyQVRFLDO
(OUDFLVPRFRPRWHRUtDH[SOLFDWLYDGHODVGLIHUHQFLDVFXOWXUDOHVVHJ~QODV
GLIHUHQFLDVJHQpWLFDVGHGLVWLQWRVJUXSRVKXPDQRVHVXQFRQFHSWRVLPLODUD
D;HQRIRELD
E(WQRFHQWULVPR
F5DFLDOLVPR
/DQRFLyQGHUD]DFRPRFRQMXQWRGHFDUDFWHUtVWLFDVKHUHGDGDVTXHKDFHQD
XQDVSHUVRQDVLQIHULRUHVRVXSHULRUHVDRWUDVWLHQHVXRULJHQHQ
D7RGDODKLVWRULDGHODKXPDQLGDG\DTXHGHVGHWLHPSRVUHPRWRVHVWDLGHDKDH[LVWLGR
E(OVLJOR;9,,,
F(QHOVLJORSDVDGRFRQODDSDULFLyQGHODVVRFLHGDGHVSRVWLQGXVWULDOHV
/DGHIHQVDREVHVLYDGHXQDLGHDHODSDVLRQDPLHQWRH[FHVLYRHQXQDFUHHQ
FLDHV
D/LEHUWLQDMH
E)DQDWLVPR
F'HVYLDFLyQ
6LODVSHUVRQDVSHUWHQHFLHQWHVDODPD\RUtDVRFLDOVHFRQVLGHUDQDVtPLV
PDVFRPRFDUHQWHVGHSUHMXLFLRVGHWRGRWLSRVLELHQQRVRQFDSDFHVGHHQIUHQ
WDUVHDELHUWDPHQWHDORVLQWUDQVLJHQWHVSRUFRQYHQLHQFLDVVRFLDOHVRHFRQyPLFDV
KDEODPRVVHJ~Q0HUWRQGH
D)DQiWLFRVDFWLYRV
E/LEHUDOHVWLELRV
F)DQiWLFRVWtPLGRV
(ODXWRUTXHIXHSLRQHURHQORVHVWXGLRVGHODSHUVRQDOLGDGDXWRULWDULDHV
D0HUWRQ
E3DUN
F$GRUQR
(QTXpKHFKRVHSXHGHILMDUHOFRPLHQ]RRDXJHGHOIXQGDPHQWDOLVPRLVOi
PLFRHQHOVLJOR;;"
D(QOD5HYROXFLyQGH,UiQ
E(QOD*XHUUDGHO*ROIR
F(QODLQGHSHQGHQFLDGH0DUUXHFRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(VXQDFDUDFWHUtVWLFDGHODVVHFWDVTXHODGLIHUHQFLDGHODLJOHVLD
D/DH[LVWHQFLDGHWH[WRVGRQGHVHFRQWLHQHVXEDVHVREUHQDWXUDO
E4XHODVVHFWDVVRQRFXOWDV\ODVLJOHVLDVQR
F4XHHQODVVHFWDVVXHOHQH[LVWLUOtGHUHVPHVLiQLFRVFRQFXDOLGDGHVVXSXHVWDPHQWH
VREUHQDWXUDOHV
/DH[LVWHQFLDGHJUXSRVYLROHQWRVTXHIXQGDPHQWDQVXH[LVWHQFLDHQODJOR
ULDGHXQHTXLSRGHI~WEROWLHQHODH[SOLFDFLyQSVLFROyJLFDGH
D(ODXJHTXHKDWRPDGRHVWHGHSRUWH
E/DIDOWDGHDXWRHVWLPDGHVXVPLHPEURV
F/DQHFHVLGDGTXHWLHQHHOKRPEUHGHHVWDUHQSHUPDQHQWHJXHUUD
/DOLEHUWDGOOHYDFRQVLJRXQXQD
D&DGDYH]PD\RUDXWRGHWHUPLQDFLyQ
E$XVHQFLDGHVHJXULGDG
F*UDGRH[FHVLYRGHFRHUFLyQFROHFWLYD
(OKRPEUHHQVXHYROXFLyQKDVWDFRQYHUWLUVHHQODSHUVRQDKXPDQD
D(VXQVHUELROyJLFDPHQWHSHUIHFWR\DFDEDGRGHVGHVXQDFLPLHQWR
E3DUDDGTXLULUVXSHUVRQDOLGDGQRQHFHVLWDGHODSRUWHGHQLQJ~QRWURVHUKXPDQR
F(VXQVHULPSHUIHFWRTXHQHFHVLWDGHODSRUWHGHRWURVVHUHVKXPDQRVSDUDVREUHYLYLU
(O FRQMXQWR GH H[SHULHQFLDV TXH WLHQHQ OXJDU D OR ODUJR GH OD YLGD GH XQ
LQGLYLGXR TXH OH SHUPLWHQ GHVDUUROODU VX SRWHQFLDO KXPDQR \ FRQYHUWLUVH HQ XQ
PLHPEURVRFLDOHV
D$FXOWXUDFLyQ
E,QWHULRUL]DFLyQ
F6RFLDOL]DFLyQ
/D HWDSD PiV LPSRUWDQWH GHO DSUHQGL]DMH VRFLDO HQ OD TXH VH LQWHULRUL]DQ
YDORUHVFUHHQFLDVDFWLWXGHV\TXHHVIXQGDPHQWDOSDUDHOGHVDUUROORGHOKRPEUH
FRPRSHUVRQDHV
D/DUHVRFLDOL]DFLyQ
E/DVRFLDOL]DFLyQSULPDULD
F/DVRFLDOL]DFLyQVHFXQGDULD
3DUWLHQGR GH XQ GHWHUPLQDGR HOHPHQWR ELROyJLFR \ SVtTXLFR KHUHGDGR OD
SHUVRQDOLGDGVXUJHIXQGDPHQWDOPHQWH
D'HODKHUHQFLDJHQpWLFDGHVXVSDGUHV
E'HOFDUiFWHUGHORVPLHPEURVGHVXJUXSR
F'HOSURFHVRGHVRFLDOL]DFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDTXHVHJHQHUHODSHUVRQDOLGDGGHXQVXMHWR
D'HEHDSUHQGHUGHXQVRORJUXSRVRFLDO
E 6XV GLVSRVLFLRQHV WHPSHUDPHQWDOHV KDQ GH HVWDU HQ FRQWLQXD LQWHUDFFLyQ FRQ VX
SURFHVRGHVRFLDOL]DFLyQ
F1RGHEHUHFLELULQIOXHQFLDVH[WUDxDVGHQLQJ~QWLSR
'HQWURGHODJHQWHIDPLOLDODDGTXLVLFLyQGHODPD\RUSDUWHGHODVSDXWDVGH
FRPSRUWDPLHQWRVHHIHFW~DDWUDYpVGHOGHOD
D0LPHWLVPRRLPLWDFLyQGHPRGHORVSDWHUQRV
E,PSRVLFLyQDXWRULWDULDGHODVPLVPDVSRUORVSDGUHV
F&DUHQFLDGHUHODFLRQHVDIHFWLYDVFRQORVSURJHQLWRUHV
&XiOGHORVVLJXLHQWHVJUXSRVLQFOXLGRVHQFDGDVHULHWLHQHQWRGRVHOORV
FRPRREMHWLYRH[SOtFLWRODVRFLDOL]DFLyQ"
D(PSUHVDHVFXHOD\SDUWLGR
E)DPLOLDSDULHQWHV\HVFXHOD
F*UXSRGHFRPSDxHURVPRYLPLHQWRVRFLDOHLJOHVLD
/DPD\RUSDUWHGHODVFUHHQFLDVDFWLWXGHVYDORUHVQRUPDVSUHMXLFLRVTXH
FRQIRUPDQODSHUVRQDOLGDGGHXQLQGLYLGXRVHKDQDGTXLULGR
D(QXQSURFHVRFRQVFLHQWH\FRQFUHWR
E(QODOODPDGDVRFLDOL]DFLyQVHFXQGDULDXQDYH]\DIRUPDGRHOLQGLYLGXRFRPRSHUVRQD
F(QHODJHQWHGHVRFLDOL]DFLyQOODPDGRIDPLOLD
+R\VHSXHGHGHFLUTXHXQDJHQWHGHVRFLDOL]DFLyQFRQXQDIXHU]DFDVLDVL
PLODEOHDODGHODSURSLDIDPLOLDHVRVRQ
D/RVJUXSRVGHDPLJRV
E/RVPHGLRVGHFRPXQLFDFLyQHVSHFLDOPHQWHODWHOHYLVLyQ
F/D,JOHVLDRVHFWDVUHOLJLRVDV
'DGD OD LPSRUWDQFLD TXH WLHQH HO SURFHVR GH DSUHQGL]DMH HQ OD IRUPD GH
DFWXDUGHODVSHUVRQDVSRGHPRVGHFLUTXHQXHVWUDVYLGDV
D&DUHFHQGHOLEHUWDG\DTXHVRPRV\KDFHPRVORTXHQRVKDHQVHxDGRXQGHWHUPL
QDGRJUXSRVRFLDO
E(VWiQGHWHUPLQDGDVSRUHVWHSURFHVR\SRUORWDQWRQRVRPRVOLEUHVSDUDDFWXDU
F(VWiQFRQGLFLRQDGDVSRUORDSUHQGLGRHQHOSURFHVRGHDSUHQGL]DMHVRFLDO
/DUHVSRQVDELOLGDGGHODVSHUVRQDVHQFXDQWRDVXVDFFLRQHVXRPLVLRQHV
D(VH[LJLEOHGDGRTXHVRPRVOLEUHVSDUDDFWXDU\SRUWDQWRUHVSRQVDEOHVGHQXHVWURV
DFWRV
E1RHVH[LJLEOH\DTXHHVWDPRVGHWHUPLQDGRV\SRUORWDQWRQRHVQXHVWUDUHVSRQVD
ELOLGDGODFRQVHFXHQFLDGHQXHVWURVDFWRV
F(VH[LJLEOHVyORVLVHHMHUFHXQFLHUWROLGHUD]JRHQHOJUXSRHQTXHVHLQWHJUDODSHUVRQD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O(VWDGRFRPRHQWHVXSHULRUGHXQDFROHFWLYLGDG
D'HEHGLVSHQVDUXQWUDWRLJXDOSDUDWRGRVORVPLHPEURVVRFLDOHV
E1RGHEHGDUXQWUDWRLJXDODWRGDVODVSHUVRQDVVLQRODVPLVPDVRSRUWXQLGDGHVD
WRGRV
F'HEHGLVFULPLQDUSRVLWLYDPHQWHDDTXHOODVSHUVRQDVPiVEHQHILFLDGDVVRFLDOPHQWH
(OKHFKRGHTXHXQFRQWULEX\HQWHSDJXHPiVLPSXHVWRVTXHRWURPHQRV
SXGLHQWHTXHHOSULPHURVXSRQH
D8QDLQMXVWLFLD\DTXHWRGRVORVFLXGDGDQRVGHEHPRVVHUWUDWDGRVGHLJXDOIRUPD
E8QUDVJRGHJHQHURVLGDGGHOSULPHURFRQHOVHJXQGR
F8QDLJXDOGDGFRPSOHMD\SRUORWDQWRXQDGHVLJXDOGDGSRVLWLYD
/DSHUVRQDOLGDGGHXQVHUKXPDQRVHFRQVLJXHHQHOSURFHVRGHDGDSWDFLyQ
DODVRFLHGDGTXHOODPDPRVVRFLDOL]DFLyQHOFXDOVHUHDOL]D
D([FOXVLYDPHQWHHQHOVHQRIDPLOLDU
E'HIRUPDLQLQWHUUXPSLGDGXUDQWHWRGDODYLGD
F)XQGDPHQWDOPHQWHDSDUWLUGHODPD\RUtDGHHGDG
8QDIDPLOLDGHQXHVWURHQWRUQRVRFLDOIRUPDGDSRUXQRVSDGUHV\VXVKLMRV
FRQSRFDLQIOXHQFLDSDUHQWDO\TXHYLYHQWRGRVHQHOPLVPRQ~FOHRIDPLOLDUHVHO
FRQFHSWRGH
D*UXSRGHLJXDOHV
E)DPLOLDFRPSXHVWD
F)DPLOLDQXFOHDU
/DV VRFLHGDGHV KXPDQDV SUHVHQWDQ VLPLOLWXGHV FRQ ODV DJUXSDFLRQHV GH
RWUDVHVSHFLHVDXQTXHVRQWRWDOPHQWHGLIHUHQWHVHQVXFRQFHSFLyQ\HQVXVFDUDF
WHUtVWLFDV6HxDOHODUHVSXHVWDTXHSUHVHQWHSURSLHGDGHVH[FOXVLYDVGHODVRFLDEL
OLGDGKXPDQD
D-HUDUTXL]DFLyQGLYLVLyQGHWUDEDMR\SURWHFFLyQ
E3URWHFFLyQQHFHVLGDGVRFLDO\VDWLVIDFFLyQGHQHFHVLGDGHV
F&XOWXUDWUDEDMRFUHDWLYR\VDWLVIDFFLyQGHLPSXOVRVVRFLDOHV
/DSDUWHGHODSHUVRQDOLGDGTXHQRGHULYDGHXQDKHUHQFLDJHQpWLFDVLQR
TXHDOFRQWUDULRHVDSUHQGLGD\QRLQQDWDVHFRQRFHFRPR
D&DUiFWHU
E7HPSHUDPHQWR
F,GRHOOR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OKHFKRGHTXHQXHVWUDVVRFLHGDGHVGHKDEODFDVWHOODQDSURQXQFLHQGHWHU
PLQDGDVOHWUDVWDOFRPROD55GHIRUPDGLIHUHQWHDRWURVJUXSRVFRQVRFLDOL]DFLyQ
SDUHFLGDDXQTXHGLIHUHQWHHVXQHMHPSORGHODUHDOLGDGGHXQRGHORVDVSHFWRVGH
ODVRFLDOL]DFLyQFRQRFLGRFRPR
D,QWHJUDFLyQGHODFXOWXUDHQODSHUVRQDOLGDG
E$GTXLVLFLyQGHFXOWXUD
F$GDSWDFLyQDOHQWRUQR
4XpDJHQWHGHVRFLDOL]DFLyQWLHQHXQDLQWHQFLRQDOLGDGFRQVFLHQWHGHHQVH
xDQ]DVRFLDOGHWDOPDQHUDTXHHVSUiFWLFDPHQWHVX~QLFRREMHWLYRH[SOtFLWR"
D/RVPHGLRVGHFRPXQLFDFLyQGHPDVDV
E/DHVFXHOD
F/DIDPLOLD
(QTXpHWDSDGHODVRFLDOL]DFLyQLQWHUYLHQHQPXFKRVDJHQWHVVRFLDOHVTXH
LQIOX\HQVREUHODSHUVRQDOLGDGGHOPLHPEURVRFLDOSHURGHXQDPDQHUDPXFKRPH
QRVLQFLVLYDTXHHQRWUDHWDSDVRFLDOL]DQWH"
D(QODVRFLDOL]DFLyQVHFXQGDULD
E(QODVRFLDOL]DFLyQSULPDULD
F(QWRGDVODVHWDSDVVRFLDOL]DGRUDVVHSURGXFHQHIHFWRVVHPHMDQWHVHQFXDQWRDOD
VRFLDOL]DFLyQ
/D RUJDQL]DFLyQ LQGLYLGXDO GH SUHGLVSRVLFLRQHV SDUD DFWXDU HV SDUD
1HZFRPEH
D7HPSHUDPHQWR
E&RQGXFWD
F3HUVRQDOLGDG
/DVQRUPDVFXOWXUDOHVLQWHULRUL]DGDVODFRQFLHQFLDVRFLDOORTXHHOLQGLYL
GXR KD DVLPLODGR H LQWHULRUL]DGR HQ HO SURFHVR GH VRFLDOL]DFLyQ HO 'HEHU SDUD
)UHXGHVHO
D6XSHUHJR
E,G
F(JR
(OSURFHVRSRUHOFXDOXQDSHUVRQDDSUHQGHHLQWHULRUL]DDORODUJRGHVX
YLGDORVHOHPHQWRVVRFLRFXOWXUDOHVGHVXPHGLRDPELHQWHLQWHJUiQGRORVHQODSHU
VRQDOLGDGEDMRODLQIOXHQFLDGHH[SHULHQFLDV\GHDJHQWHVVRFLDOHVVLJQLILFDWLYRV\
DGDSWiQGRVHDOHQWRUQRVRFLDOHVHOFRQFHSWRGH
D$FXOWXUDFLyQ
E7UDQVFXOWXUDFLyQ
F6RFLDOL]DFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVIRUPDVGHJHVWLFXODUTXHWLHQHQHQJHQHUDOWRGRVORVPLHPEURVGHXQ
PLVPRJUXSRVRFLDOVHHQWLHQGHFRPRXQHMHPSORFODURGH
D7UDQVFXOWXUDFLyQ
E$GDSWDFLyQDQLYHOELROyJLFR
F$GDSWDFLyQDQLYHOGHOSHQVDPLHQWR
/RVYDORUHVLPSDUWLGRVHQHOVHQRIDPLOLDUVRQDYHFHVFRQWUDUUHVWDGRVSRU
ORVPRGHORVGHFRQYLYHQFLDTXHGLIXQGHQORVPHGLRVGHFRPXQLFDFLyQVRFLDOORTXH
LQGLFDTXHHOSURFHVRGHVRFLDOL]DFLyQ
D(V,PSHUVRQDO\DTXHQRVHDSOLFDQXQFDGHIRUPDGLUHFWD
E(VXQLGLUHFFLRQDO\DTXHVLHPSUHVHGHVDUUROODHQHOPLVPRVHQWLGR
F1RHVXQtYRFRVLQRFRQWUDGLFWRULRDYHFHV
4XpDJHQWHVGHVRFLDOL]DFLyQVHOHFFLRQDQORVYDORUHVDWUDQVPLWLUORVLQ
WHUSUHWD\YDORUDORVFRQWHQLGRVWUDQVPLWLGRVUHDOL]DQGRHVWHSURFHVRGHXQDIRUPD
FRQWLQXD\GLIXVD"
D/DIDPLOLD
E/RVJUXSRVGHDPLJRV
F7RGRVORVDJHQWHVVHFXQGDULRV
(QUHODFLyQFRQODLQIOXHQFLDGHFDGDXQRGHORVSURJHQLWRUHVHQODVRFLDOL
]DFLyQGHOQLxRVHSXHGHGHFLUTXH
D(QQXHVWUDVRFLHGDGHOUROSDWHUQRHVIXQGDPHQWDO\PiVGHFLVRULRTXHHOPDWHUQR
E(OUROPDWHUQRHVHOIXQGDPHQWDOVLHQGRHOSDWHUQRVHFXQGDULR
F$PERVUROHVVRQFRPSOHPHQWDULRVHQODVRFLDOL]DFLyQLQIDQWLO
(OWLSRGHIDPLOLDGHODFXOWXUDRFFLGHQWDOHVPRQyJDPDSHURRWUDVFXOWX
UDVVHDGPLWHODSROLJDPLD(OPRGHORIDPLOLDUFRPSXHVWRGHYDULDVPXMHUHV\XQR
KRPEUHHVOODPDGR
D)DPLOLDH[WHQVDRFRQVDQJXtQHD
E)DPLOLDSROLJiPLFD\SROLiQGULFD
F)DPLOLDSROLJiPLFD\SROLJtQLFD
(VFLHUWRTXHHQODDFWXDOLGDGODIDPLOLDGHQXHVWURHQWRUQRFRPSDUDGDFRQ
ODGHRWUDVFXOWXUDVXRWUDVpSRFDV
D+DSHUGLGRJUDQSDUWHGHODUHVSRQVDELOLGDGVRFLDOL]DGRUDSRUORTXHORVGRFHQWHVGH
ODHVFXHODWLHQHQTXHDVXPLUWDPELpQHVDUHVSRQVDELOLGDG
E(VXQDIDPLOLDPXFKRPiVQXFOHDUL]DGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LGHFLPRVGHHVHDJHQWHVRFLDOTXHHVLQWHQFLRQDOHQVXDFWLWXGFRQVFLHQ
WHHQVXDFWLYLGDGIRUPDWLYRHQVXVSURSyVLWRVVLVWHPDWL]DGRHQVXUHDOL]DFLyQ\
OLPLWDGRHQVXGXUDFLyQQRVHVWDPRVUHILULHQGRD
D/DIDPLOLD
E/DHVFXHOD
F/RVJUXSRVGHLJXDOHV
8QDIDVHGHODVRFLDOL]DFLyQHQODTXHVRQPX\SRFRVORVDJHQWHVGHVRFLD
OL]DFLyQ DXQTXH VXV LQIOXHQFLDV HQ OD IRUPDFLyQ GH OD SHUVRQDOLGDG GHO LQGLYLGXR
HV GHFLVLYDV \D TXH HV OD HWDSD PiV UHOHYDQWH HQ OD VRFLDOL]DFLyQ QRV HVWDPRV
UHILULHQGRD
D/D6RFLDOL]DFLyQ3ULPDULD
E/D6RFLDOL]DFLyQ6HFXQGDULD
F &XDOTXLHUD GH ODV HWDSDV \D TXH WRGDV HOODV VRQ GHFLVLYDV HQ OD IRUPDFLyQ GH OD
SHUVRQDOLGDG
(QWUHORVPHFDQLVPRVIXQGDPHQWDOHVGHODSUHQGL]DMHVRFLDOQRVHHQFXHQWUD
D/RVHQVD\RV\HUURUHV
E/DLPLWDFLyQ\ODUHSHWLFLyQ
F7RGRVHOORV\RWURVPiVVRQPHFDQLVPRVGHVRFLDOL]DFLyQ
8QDSHUVRQDHVPiVOLEUHDPHGLGDTXH
D7LHQHPiVFRQRFLPLHQWRGHODFRQVHFXHQFLDGHVXVDFWRV
E7LHQHPiVSRVLELOLGDGGHHOHFFLyQ\SOHQDYROXQWDGGHDFFLyQ
7RGDSHUVRQDOLEUHGHEHVHUWDPELpQ
D'HSHQGLHQWH
E5HVSRQVDEOH
G,QIOH[LEOH
(VWRWDOPHQWHFRPSDWLEOHHOFRQFHSWRGHOLEHUWDGFRQHOGH
D'HWHUPLQLVPR
E&RQGLFLRQDPLHQWR
F7RWDOVXPLVLyQ\GHSHQGHQFLD
8QDVRFLHGDGTXHDSOLTXHODLJXDOGDGGHXQDPDQHUDDEVROXWDVLQFRUUHJLU
FRQ DFFLRQHV GLVFULPLQDWRULDV SRVLWLYDV ODV GHVLJXDOGDGHV SUHH[LVWHQWHV HV XQD
VRFLHGDG
D6ROLGDULD
E,QMXVWD
F-XVWD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpDUWtFXORQXHVWUD&RQVWLWXFLyQVHVHxDODODOLEHUWDGFRPRXQRGHORV
GHUHFKRVIXQGDPHQWDOHV"
D$UWtFXOR
E$UWtFXOR
F$UWtFXOR
$OJXQRVVRFLyORJRVSDUDUHIHULUVHDOSURFHVRGHDFXOWXUDFLyQSHURHQUHOD
FLyQDXQLQGLYLGXR\QRDOJUXSRHPSOHDQHOWpUPLQR
D'HVRFLDOL]DFLyQ
E7UDQVFXOWXUDFLyQ
F,QGLYLGXDFLyQ
(OSURFHVRSRUHOFXDOVHDGTXLHUHODFXOWXUDWUDQVPLWLGDSRUODJHQHUDFLyQ
PiVDQWLJXDKDFLDODQXHYDUHFLELpQGRVHODVFRVWXPEUHVQRUPDVFRQRFLPLHQWRV
IRUPDVGHSHQVDUVHFRQRFHFRPR
D$VRFLDOL]DFLyQ
E7UDQVPLVLyQGLUHFWD
F(QFXOWXUDFLyQRHQGRFXOWXUDFLyQ
/DYLUWXGVRFLDOPiVHPSDUHQWDGDFRQODGHPRFUDFLDHV
D/DGLJQLGDG
E/DWROHUDQFLD
F/DILUPH]D
/DWHRUtDGHOUHIOHMRFRQGLFLRQDGRFRPRPpWRGRGHDSUHQGL]DMHSHUWHQHFHD
D3DXORY
E%DQGXUD
F6NLQQHU
6LHODSUHQGL]DMHVHEDVDHQODLPLWDFLyQGHFRQGXFWDV\VXUHSHWLFLyQHQ
EDVHDODPRWLYDFLyQQRVHVWDPRVUHILULHQGRDO
D$SUHQGL]DMHRSHUDQWH
E$SUHQGL]DMHFOiVLFR
F$SUHQGL]DMHYLFDULR
6LVHWUDWDGHSUHPLDURFDVWLJDUFRQGXFWDVFRPRPpWRGRGHDSUHQGL]DMH
QRVHVWDPRVUHILULHQGRDO
E$SUHQGL]DMHFOiVLFR
F$SUHQGL]DMHYLFDULR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OUDFLVPRFRQVLVWHQWHHQSUHMXLFLRKDFLDSHUVRQDVGHUD]DGLIHUHQWHSRU
FRQVLGHUDUORVLQIHULRUHVHVXQWLSRGHUDFLVPRGHQRPLQDGR
D7UDGLFLRQDO
E0RGHUQR
F(WQRFHQWULVWD
&XDQGRODYtFWLPDGHXQDVHFWDGDGDODFHUWH]DGHQRSRGHUVDOLUGHHOOD
OOHJDDLGHQWLILFDVHFRQVXVVHFXHVWUDGRUHVOOHJDQGRDGHIHQGHUORVKDEODPRVGH
D6tQGURPHSRVWVHFWDULR
E6tQGURPHGHDGRFWULQDPLHQWR
F6tQGURPHGH(VWRFROPR
3DUDFRQVHJXLUXQDIiFLOPDQLSXODFLyQGHORVDGHSWRV\XQDWRWDOLGHQWLILFD
FLyQFRQODVHFWDGHVWUXFWLYDORVFDSWDGRVSRUHOODVRQVRPHWLGRVDOSURFHGLPLHQWR
GHFDPELRGHDFWLWXGIRU]DGRGHQRPLQDGR
D7pFQLFDVGH3HUVXDVLyQ&RHUFLWLYD
E$QVLHGDGLQGXFLGD
F3VLFRVLVSDUDQRLGH
/DWUDQVIRUPDFLyQGHODSHUVRQDOLGDGTXHSXHGHRFXUULUOHDXQDGHSWRD
XQDVHFWDGHVWUXFWLYDVHGHQRPLQDHQVXFRQMXQWR
D(VTXL]RIUHQLDSDUDQRLGH
E6tQGURPHGHDGRFWULQDPLHQWRVHFWDULR
F'HSUHVLyQSRVWWUDXPiWLFD
(O UDFLVPR TXH VXEVLVWH FXELHUWR GH PD\RU UHVSHWDELOLGDG \ QR EDVDGR
HQ HVWHUHRWLSRV UDFLVWDV VLQR HQ OD LGHD PiV VXWLO GH TXH GHWHUPLQDGRV JUXSRV
UDFLDOHVUHFLEHQVRFLDOPHQWHORTXHQRVHPHUHFHQ\VXFRPSRUWDPLHQWRJUXSDOHV
FULWLFDEOHVHFRQRFHFRPR
D5DFLDOLVPR
E5DFLVPRWUDGLFLRQDO
F5DFLVPRPRGHUQR
/RFRQWUDULRGHODLQWUDQVLJHQFLDRGRJPDWLVPRHV
D&RPSODFHQFLD
E7ROHUDQFLD
F3HUVXDFLyQ
3DUD7RGRURYHOHVWXGLRGHODH[LVWHQFLDGHGLVWLQWDVUD]DV\VXMHUDUTXL]D
FLyQVHFRQRFHFRPR
D5DFLVPRPRGHUQR
E5DFLDOLVPR
F$QWURSRORJtDUDFLDO
32/,&$1$&,21$/(6&$/$%6,&$

(OIHQyPHQRGHDVLPLODFLyQFXOWXUDOTXHH[SHULPHQWDQORVLQPLJUDQWHVDO
WUDWDUGHFDSWDUORVUDVJRVFXOWXUDOHVPiVGHVWDFDGRVGHODQXHYDVRFLHGDGGRQGH
KDQGHFLGLGRYLYLUVXVWLWX\HQGRDYHFHVDORVSURSLRVVHFRQRFHFRPR
D(QFXOWXUDFLyQ
E0XOWLFXOWXUDOLGDG
F$FXOWXUDFLyQ
$$OEHUW%DQGXUDVHDVRFLDFRQHODSUHQGL]DMH
D9LFDULR
E&OiVLFR
F2SHUDQWHRUHVSRQGLHQWH
&yPRVHGHQRPLQDDOFRQMXQWRGHUHDFFLRQHVTXHVHSURGXFHQHQXQD
YtFWLPDVRPHWLGDDJUDQSUHVLyQSVLFROyJLFDSRUSDUWHGHXQVHFXHVWUDGRURGHXQD
VHFWDGHWDOIRUPDTXHWLHQHODFHUWH]DGHQRSRGHUHVFDSDUVLQJUDYHULHVJRFRP
SUHQGLHQGR\DFHSWDQGRSRVWXODGRVGHVXVVHFXHVWUDGRUHV"
D6tQGURPHGH(VWRFROPR
E3VLFRVLVSDUDQRLGH
F(VTXL]RIUHQLD
8QRGHORVVLJXLHQWHVHOHPHQWRVQRSHUWHQHFHDXQDVHFWDGHVWUXFWLYD
D7pFQLFDVGHFRQWUROPHQWDO
E([LVWHQFLDGHXQOtGHUGHWLSRPHVLiQLFR
F)RUWDOHFLPLHQWRGHODSURSLDSHUVRQDOLGDG
(OUDFLVPRTXHVHSUHVHQWDFRPRGHIHQVRUGHODLJXDOGDG\QRGLVFULPLQD
FLyQTXHQRVHEDVDHQHVWHUHRWLSRVUDFLDOHVSHURTXHHQODSUiFWLFDHVWDEOHFH
XQDGLIHUHQFLDFLyQHQWUHSHUVRQDVSRUHOJUXSRKXPDQRDOTXHSHUWHQHFHQHV
D5DFLDOLVPR
E5DFLVPRPRGHUQR
F;HQRIRELD
(OHVWDWXVORJUDGRRDGTXLULGRHVPiVSURSLRGHODVVRFLHGDGHV
D'HVROLGDULGDGRUJiQLFD
E'HVROLGDULGDGPHFiQLFD
F7UDGLFLRQDOHV
/DVUHVSXHVWDVHPHUJHQWHVSULPHUDVDQWHXQHVWtPXORVRFLDOVHUHDOL]DQ
JHQHUDOPHQWHHQEDVHDOVLJXLHQWHVLVWHPDGHDSUHQGL]DMHVRFLDO
D/DLPLWDFLyQ
E/DFRPSHWLFLyQ
F/DUHSHWLFLyQ
7(671
(O UHFKD]R DO SOXUDOLVPR UHOLJLRVR WUDWDQGR GH LPSRQHU XQD ~QLFD LGHD
FRQVLGHUDGDSRUVXVVHJXLGRUHVFRPROD~QLFDYHUGDGTXpWpUPLQRUHFLEHHVSH
FtILFDPHQWH"
D)DQDWLVPR
E)XQGDPHQWDOLVPR
F6HFWDULVPR
(OYDORUTXHFRQVLVWHHQFRPSDUWLULQWHUHVHV\QHFHVLGDGHVGHSHUVRQDVR
JUXSRVVHGHQRPLQD
D/LEHUWDG
E*HQHURVLGDG
F6ROLGDULGDG
6HxDOHODUHVSXHVWDTXHFRQWHQJDGRVFRQFHSWRtQWLPDPHQWHOLJDGRVHQWUH
VtDOVHUXQRFRQVHFXHQFLDLQHOXGLEOHGHORWUR
D)XQGDPHQWDOLVPR7ROHUDQFLD
E'RJPDWLVPR)XQGDPHQWDOLVPR
F(WQRFHQWULVPR5HODWLYLVPR
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
F/DOLEHUWDG
D$GTXLVLFLyQGHFXOWXUDLQWHJUDFLyQGHODFXOWXUDHQODSHUVRQDOLGDGDGDSWDFLyQ
DOHQWRUQR
F(QODVRFLDOL]DFLyQWHUFLDULD
E6HKDGHHVWDEOHFHUXQOtPLWHDORWROHUDEOH\ORLQWROHUDEOH
E0DVORZ
F7HPSHUDPHQWR
F/DGHLQWHJUDFLyQ
F'HVRFLDOL]DFLyQ
F,JXDOGDG
D'LVFULPLQDFLyQSRVLWLYD
E7ROHUDQFLD
D5DFLVPR
F)DQDWLVPR
D6ROLGDULGDGRUJiQLFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F6RFLDOL]DFLyQ6HFXQGDULD
E1DGLHHVWiHQSRVHVLyQGHODYHUGDGDEVROXWD
D&RQIRUPLGDGVRFLDO
F(OSURFHVRGHVRFLDOL]DFLyQ
D$QRPLD
F/LEHUWDG
D;HQRIRELD
F(WQRFHQWULVPR
F)DQiWLFRVWtPLGRV
F$PEDVUHVSXHVWDVSHUWHQHFHQDOWLSRGHSHUVRQDOLGDGDXWRULWDULD
D6HFXODUL]DFLyQ
E/DVHFWDWLHQHXQDHVWUXFWXUDPHQRVRUJDQL]DGD\HVPiVSHTXHxD
E(QORVDxRVFLQFXHQWDGHOVLJORSDVDGR
F6XLGHQWLGDGFRQHOI~WERO
E6HKDFHSHUVRQD
E(VHOSURFHVRGHVRFLDOL]DFLyQ
D5HVRFLDOL]DFLyQ
D6RFLDOL]DFLyQ
E&RQWLQXR\GLIXVR
F6RFLROyJLFRSVLFROyJLFR\ELROyJLFR
F/DIDPLOLD
D/DUHODFLyQGHLJXDOHVRJUXSRGHDPLJRV
D/DDIHFWLYLGDGFRQTXHVHSURGXFHHODSUHQGL]DMH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E(OKRPEUHHQVRFLHGDGQRHVWRWDOPHQWHOLEUH\DTXHQRSXHGHKDFHUHQFDGD
LQVWDQWHORTXHGHVHD
F'DUXQWUDWRGHVLJXDODSHUVRQDVHQVLWXDFLRQHVGHVLJXDOHV
D$FXOWXUDFLyQ
F'XUNKHLP
D0HFiQLFD
F$PERV
E(OFRQFHSWRGHVROLGDULGDGRUJiQLFD
F([SUHVLRQHVGHFRQWUDYDORUHVUHSXGLDEOHVHQXQDVRFLHGDGGHPRFUiWLFD
D(OLGRHOOR
D'HVYLDFLyQVRFLDO
E$QRPLD
F5DFLDOLVPR
E(OVLJOR;9,,,
E)DQDWLVPR
E/LEHUDOHVWLELRV
F$GRUQR
D(QOD5HYROXFLyQGH,UiQ
F4XHHQODVVHFWDVVXHOHQH[LVWLUOtGHUHVPHVLiQLFRVFRQFXDOLGDGHVVXSXHVWDPHQ
WHVREUHQDWXUDOHV
E/DIDOWDGHDXWRHVWLPDGHVXVPLHPEURV
D&DGDYH]PD\RUDXWRGHWHUPLQDFLyQ
F(VXQVHULPSHUIHFWRTXHQHFHVLWDGHODSRUWHGHRWURVVHUHVKXPDQRVSDUDVR
EUHYLYLU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F6RFLDOL]DFLyQ
E/DVRFLDOL]DFLyQSULPDULD
F'HOSURFHVRGHVRFLDOL]DFLyQ
E6XVGLVSRVLFLRQHVWHPSHUDPHQWDOHVKDQGHHVWDUHQFRQWLQXDLQWHUDFFLyQFRQ
VXSURFHVRGHVRFLDOL]DFLyQ
D0LPHWLVPRRLPLWDFLyQGHPRGHORVSDWHUQRV
E)DPLOLDSDULHQWHV\HVFXHOD
F(QHODJHQWHGHVRFLDOL]DFLyQOODPDGRIDPLOLD
E/RVPHGLRVGHFRPXQLFDFLyQHVSHFLDOPHQWHODWHOHYLVLyQ
F(VWiQFRQGLFLRQDGDVSRUORDSUHQGLGRHQHOSURFHVRGHDSUHQGL]DMHVRFLDO
D(VH[LJLEOHGDGRTXHVRPRVOLEUHVSDUDDFWXDU\SRUWDQWRUHVSRQVDEOHVGHQXHV
WURVDFWRV
E1RGHEHGDUXQWUDWRLJXDODWRGDVODVSHUVRQDVVLQRODVPLVPDVRSRUWXQLGDGHV
DWRGRV
F8QDLJXDOGDGFRPSOHMD\SRUORWDQWRXQDGHVLJXDOGDGSRVLWLYD
E'HIRUPDLQLQWHUUXPSLGDGXUDQWHWRGDODYLGD
F)DPLOLDQXFOHDU
F&XOWXUDWUDEDMRFUHDWLYR\VDWLVIDFFLyQGHLPSXOVRVVRFLDOHV
D&DUiFWHU
F$GDSWDFLyQDOHQWRUQR
E/DHVFXHOD
D(QODVRFLDOL]DFLyQVHFXQGDULD
F3HUVRQDOLGDG
D6XSHUHJR
F6RFLDOL]DFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E$GDSWDFLyQDQLYHOELROyJLFR
F1RHVXQtYRFRVLQRFRQWUDGLFWRULRDYHFHV
D/DIDPLOLD
F$PERVUROHVVRQFRPSOHPHQWDULRVHQODVRFLDOL]DFLyQLQIDQWLO
F)DPLOLDSROLJiPLFD\SROLJtQLFD
E/DHVFXHOD
D/D6RFLDOL]DFLyQ3ULPDULD
F7RGRVHOORV\RWURVPiVVRQPHFDQLVPRVGHVRFLDOL]DFLyQ
E5HVSRQVDEOH
E&RQGLFLRQDPLHQWR
E,QMXVWD
D$UWtFXOR
E7UDQVFXOWXUDFLyQ
F(QFXOWXUDFLyQRHQGRFXOWXUDFLyQ
E/DWROHUDQFLD
D3DXORY
F$SUHQGL]DMHYLFDULR
D7UDGLFLRQDO
F6tQGURPHGH(VWRFROPR
D7pFQLFDVGH3HUVXDVLyQ&RHUFLWLYD
E6tQGURPHGHDGRFWULQDPLHQWRVHFWDULR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F5DFLVPRPRGHUQR
E7ROHUDQFLD
E5DFLDOLVPR
F$FXOWXUDFLyQ
D9LFDULR
D6tQGURPHGH(VWRFROPR
F)RUWDOHFLPLHQWRGHODSURSLDSHUVRQDOLGDG
E5DFLVPRPRGHUQR
D'HVROLGDULGDGRUJiQLFD
D/DLPLWDFLyQ
E)XQGDPHQWDOLVPR
F6ROLGDULGDG
E'RJPDWLVPR)XQGDPHQWDOLVPR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$&7,78'(6<9$/25(662&,$/(6
/$6$&7,78'(6&21&(372&20321(17(6<)81&,21(6(67(5(27,326
35(-8,&,26<',6&5,0,1$&,1$&7,78'(6'(/$3(5621$/,'$'
$8725,7$5,$;(12)2%,$<'2*0$7,602/26*5832662&,$/(6
(/&21)/,&72(175(*58326
&XDQGRXQDSHUVRQDPD\RUGHFUHHQFLDVDQWLFXDGDVVHFRPSRUWDGHIRUPD
LQWUDQVLJHQWHQRDFHSWDQGRORVDVSHFWRVGHODYLGDDFWXDOVHKDEODGH
D(WQRFHQWULVPR
E;HQRIRELD
F'RJPDWLVPR
&XDQGRVHFRQVLGHUDTXHODFXOWXUDGHOJUXSRDOTXHVHSHUWHQHFHHVODPHMRU
HVWDPRVDQWHHOFRQFHSWRGH
D(WQRFHQWULVPR
E)DQDWLVPR
F;HQRIRELD
(QUD]yQDTXpIXQFLyQWRGRVORVPLHPEURVGHXQPLVPRJUXSRWLHQGHQD
WHQHUODVPLVPDVDFWLWXGHV"
D3RUHOPHFDQLVPRGHGHIHQVD
E3RUODDILUPDFLyQGHYDORUHV
F3RUODDGDSWDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpIXQFLyQHMHUFHXQDDFWLWXGFXDQGRVHDGRSWDSDUDH[SUHVDUORVYDORUHV
TXHODVXVWHQWD"
D$GDSWDWLYD
E'HDILUPDFLyQRH[SUHVLYD
F'HGHIHQVD
(OOtGHUSDUDHMHUFHUFRPRWDOGHEHSRVHHUVXILFLHQWHFDSDFLGDGSDUD
D&DPELDUORVUROHVGHFDGDXQRGHORVPLHPEURVGHOJUXSR
E&RQVHJXLUTXHSRUPHGLRGHOWHPRUVHDREHGHFLGR
F0RWLYDUXQFDPELRGHFRQGXFWDHQORVPLHPEURVGHOJUXSR
/DV PDQHUDV GH REUDU R GH VHU TXH XQD FROHFWLYLGDG MX]JDQ LGHDOHV HV HO
FRQFHSWRGH
D&RQGXFWD
E$FWLWXG
F9DORUVRFLDO
/RVYDORUHVVRFLDOHVQRVRQIXQGDPHQWRGH
D(OWHPSHUDPHQWR
E/DSHUVRQDOLGDG
F/DVDFWLWXGHV
/DVFRQGXFWDVUHSHWLGDV\DFHSWDGDVSRUWRGRVORVPLHPEURVVRFLDOHVVRQ
D$FWLWXGHV
E1RUPDV
F9DORUHVVRFLDOHV
/DVUHJODVRQRUPDVPRUDOHVLPSRUWDQWHVSDUDXQDVRFLHGDGVHFRQRFHQHQ
VRFLRORJtDFRPR
D3DXWDV
E8VRV
F0RUHV
4Xp IXQFLyQ HMHUFH OD [HQRIRELD FXDQGRVLUYH SDUD UHFKD]DU \ GHVFDUJDU
VREUHRWURVORSURSLRPRUDOPHQWHREMHWDEOH"
D'HUDFLRQDOL]DFLyQ
E'HSUR\HFFLyQ
F'HGHVSOD]DPLHQWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
,QWUDQVLJHQFLDWLHQHTXHYHUFRQ
D7ROHUDQFLD
E'RJPDWLVPR
F5DFLVPR
6LXQDSUHGLVSRVLFLyQQRHVDSUHQGLGDVLQRLQQDWD
D(VXQSUHMXLFLR
E1RHVXQDDFWLWXG
F6LJQLILFDTXHQRHVLPSRUWDQWH
$OWUDWDUGHVHUXQRPiVGHOJUXSRDOTXHSHUWHQHFHPRVDGRSWDQGRODVDFWLWX
GHVGHOSURSLRJUXSRHVWDPRVFXPSOLPHQWDQGRXQDIXQFLyQDFWLWXGLQDOGHQRPLQDGD
D7HQGHQFLDORFRPSRUWDPHQWDO
E$GDSWDWLYD
F$IHFWLYDRVHQWLPHQWDO
6LGHFLPRVGHXQDSHUVRQDTXHHVSUHMXLFLRVDFRQVHUYDGRUDDXOWUDQ]D
KRVWLODGHWHUPLQDGRVJUXSRVpWQLFRVHWFODHVWDPRVGHILQLHQGRFRPR
D6RFLDO
E3UDJPiWLFD
F$XWRULWDULD
/DWpFQLFDGHUHVROXFLyQGHFRQIOLFWRVHQWUHGRVJUXSRVHQODTXHXQDWHU
FHUDSDUWHTXHVHVXSRQHQHXWUDOWUDWDGHVXJHULUSURSXHVWDVGHUHVROXFLyQVH
FRQRFHFRPR
D1HJRFLDFLyQ
E$UELWUDMH
F0HGLDFLyQ
8QDFRQVHFXHQFLDTXHRFXUUHHQODVUHODFLRQHVHQWUHPLHPEURVGHXQJUXSR
TXHKDHQWUDGRHQFRQIOLFWRFRQRWURHVTXH
D6HROYLGDQGLIHUHQFLDVSHUVRQDOHV\VHSDVDDXQFOLPDPiVIRUPDOLVWD
E6HSLHUGHODFRQILDQ]DHQHOSURSLRMHIH
F$XPHQWDQODVGLVFXVLRQHVHQWUHVXVPLHPEURV\VHSRQHQHQGXGDODFRPSHWHQFLD
GHOMHIH
3DUDEXVFDUVROXFLRQHVDOFRQIOLFWRHQWUHGRVJUXSRVGHWUDEDMRHVLPSUHV
FLQGLEOHTXH
D6HUHEDMHODWHQVLyQH[LVWHQWHHQWUHVXVPLHPEURV
E6HGLVXHOYDQORVGRVJUXSRVHQOLWLJLR
F6HXWLOLFHODDXWRULGDGVLQGLVFXVLyQGHOMHIHGHDPERVJUXSRV\TXHGHFLGDTXLHQHV
HOYHQFHGRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QORVJUXSRVVHFXQGDULRVSRUUHJODJHQHUDOHOQ~PHURGHVXVFRPSRQHQ
WHVHV
D(OHYDGR
E(VFDVR
F)UXWRGHODDVRFLDFLyQSRUYtQFXORVIDPLOLDUHV
8QDDJUXSDFLyQHVSRUiGLFDGHSHUVRQDVFRQSUHVHQFLDHQXQGHWHUPLQDGR
OXJDUVLQHVWUXFWXUDVRFLDO
D3XHGHVHUJUXSRVRFLDO
E1XQFDVHSXHGHFRQVLGHUDUJUXSRVRFLDO
F(VXQDJUHJDGRHVWDGtVWLFR
1RSXHGHQFDWDORJDUVHFRPRJUXSRVXWLOLWDULRV
D$PLJRVHPSUHVD\FOXEVRFLDO
E)DPLOLD\DPLJRV
F6LQGLFDWRHPSUHVD\DPLJRV
3UROLIHUDQPiVORVJUXSRVVHFXQGDULRVHQODVVRFLHGDGHV
D0RGHUQDV
E3ULPLWLYDV
F7UDGLFLRQDOHV
&XiOGHHVWDVFDUDFWHUtVWLFDVQRSHUWHQHFHDXQDJUDQFLXGDG"
D/DYLGDHVDQyQLPD
E+D\PXFKDVHJUHJDFLyQ
F/DLQWHUDFFLyQVRFLDOHVSHUVRQDO
5HILULpQGRQRVDSHUVRQDVTXHSRVHHQXQDWULEXWRVRFLDOVHPHMDQWHJUDFLDV
DOFXDOSXHGHQVHUDJUXSDGDVOyJLFDPHQWHHVWHFRQFHSWRVHFRQRFHFRPR
D&DWHJRUtDVRFLDO
E$JUHJDGRHVWDGtVWLFR
F*UXSRGHUHIHUHQFLD
(ODXWRUGHORVFRQFHSWRVSULPDULR\VHFXQGDULRHQUHIHUHQFLDDODDIHFWLYL
GDGGHORVJUXSRVVRFLDOHVIXH
D6XPPHU
E%XUJHVV
F&RROH\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVRFLDOL]DFLyQHVPiVGHILFLHQWHVL
D([LVWHQJUXSRVVHFXQGDULRV
E3UHGRPLQDQODVUHODFLRQHVSULPDULDVVREUHODVVHFXQGDULDV
F/DVUHODFLRQHVVHFXQGDULDVWUDWDQGHVXVWLWXLUDODVSULPDULDV
/DSUR[LPLGDGItVLFDHQORVJUXSRVSULPDULRV
D9LHQHH[LJLGDSDUDTXHVHDQFRQVLGHUDGRVFRPRWDOHV
E(VXQDWUDEDSDUDODFRKHVLyQGHOSURSLRJUXSR
F&RPSRUWDHOURFHFRQIOLFWLYR\GLVJUHJDHOSURSLRJUXSR
3DUDTXHSXHGDKDEODUVHGHJUXSRVRFLDOpVWHGHEHSUHVHQWDUFRPRFDUDF
WHUtVWLFD
D,JXDOGDGGHHVWDWXVGHWRGRVVXVPLHPEURV
E/DXQLILFDFLyQGHORVUROHVGHORVTXHORLQWHJUDQ
F/DH[LVWHQFLDGHXQHVIXHU]RFRP~QGLULJLGRKDFLDXQRVILQHVVRFLDOHV
8QDFDUDFWHUtVWLFDLPSRUWDQWHTXHGHWHUPLQDODFDWDORJDFLyQGHJUXSRVR
FLDOHV
D4XHLQWHUDFW~HQVRFLDOPHQWHGXUDQWHXQWLHPSRSURORQJDGR
E4XHFRPSDUWDQHVWDWXVVLPLODUHV
F4XHUHDOLFHQUROHVVHPHMDQWHV
3DUDXQPLHPEURGHXQDEDQGDGHOLFWLYDpVWDHV
D6XHQGRJUXSR
E6XH[RJUXSR
F8QJUXSRPDUJLQDO
$O FRQMXQWR GH YDORUHV FUHHQFLDV UHDOL]DFLRQHV QRUPDV VtPERORV HWF
TXHFDUDFWHUL]DDXQDVRFLHGDGVHOHOODPD
D&RVWXPEUHV
E&XOWXUD
F6RFLDOL]DFLyQ
(VGHWHUPLQDQWHHQODIRUPDFLyQGHODVDFWLWXGHVGHXQDSHUVRQD
D/RVYDORUHVGHXQH[RJUXSR
E/DSHUVRQDOLGDGGHORVUHVWDQWHVPLHPEURVVRFLDOHV
F/DVDFWLWXGHVFRPSDUWLGDVSRUORVPLHPEURVGHOJUXSR
/DSUHGLVSRVLFLyQSDUDDFWXDUGHXQDPDQHUDSUHYLVLEOHVHGHQRPLQD
D3HUVRQDOLGDG
E7HPSHUDPHQWR
F$FWLWXG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O FRPSRQHQWH DFWLWXGLQDO FRQVLVWHQWH HQ XQD RULHQWDFLyQ D OD DFFLyQ VH
OODPD
D7HQGHQFLDO
E&RJQLWLYR
F(PRFLRQDO
$ OD HPRFLyQ TXH DFRPSDxD HQ PD\RU R PHQRU JUDGR D WRGD DFWLWXG VH
OODPD
D(OHPHQWRDGDSWDWLYR
E&RPSRQHQWHWHQGHQFLDO
F&RPSRQHQWHDIHFWLYRRVHQWLPHQWDO
&RPRFDUDFWHUtVWLFDGHODSHUVRQDDXWRULWDULDVHGHVWDFDVX
D,QVHQVLELOLGDG
E'RJPDWLVPR
F$VRFLDELOLGDG
6HGLVWLQJXHQODVDFWLWXGHVGHORVSUHMXLFLRVEDViQGRVHHQVX
D6LJQR
E2EMHWR
F)XQGDPHQWRFRJQLWLYR
/DLGHDJHQHUDOL]DGDTXHVHWLHQHVREUHODVFDUDFWHUtVWLFDVGHORVPLHPEURV
GHXQGHWHUPLQDGRJUXSRVRFLDOFRQHOTXHQRVHWLHQHQLQJ~QWLSRGHH[SHULHQFLD
VHGHQRPLQD
D3UHMXLFLR
E(VWHUHRWLSR
F;HQRIRELD
/DVHQVDFLyQGHGLVJXVWRTXHDFRPSDxDDWRGDDFWLWXGFXDQGRODFRQGXFWD
UHDOL]DGDSRURWURVHVFRQWUDULDDODSUHGLVSRVLFLyQTXHVHWLHQHVREUHHOPLVPRHV
ORTXHVHFRQRFHFRPR
D(OHPHQWRDIHFWLYR
E)XQFLyQGHFRQRFLPLHQWR
F)XQFLyQH[SUHVLYD
8QDDFWLWXGLQMXVWLILFDEOHPHQWHQHJDWLYDKDFLDORVPLHPEURVGHXQJUXSR
SRUVXVRODSHUWHQHQFLDDHVHJUXSRVHGHQRPLQD
D)DQDWLVPR
E'LVFULPLQDFLyQ
F3UHMXLFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
1RHVFDUDFWHUtVWLFDGHORVSUHMXLFLRV
D6XDOWDFRQVWDQFLD\ULJLGH]
E(OFRQRFLPLHQWRGHWDOODGR\H[DFWRGHOREMHWRRVXMHWRGHOSUHMXLFLR
F6XSREUHHOHPHQWRFRJQLWLYR
(OFRQFHSWRGHTXHWRGRORQXHVWURHVPHMRUTXHORDMHQR
D1RFRKHVLRQDDOHQGRJUXSR
E(VXQSUHMXLFLRGHHQGRJUXSR
F7LHQHVyORFRQVHFXHQFLDVQHJDWLYDV
(OFRPSRQHQWHGHODDFWLWXGGLUHFWDPHQWHUHODFLRQDGRFRQODFRQGXFWDHVHO
D7HQGHQFLDO
E&RJQLWLYR
F6HQWLPHQWDO
/RVHVWHUHRWLSRV
D6LPSOLILFDQODH[SHULHQFLD
E1RJHQHUDOL]DQ
F6RQIiFLOPHQWHPRGLILFDEOHV
*UDQSDUWHGHORVSUHMXLFLRVVHDGRSWDQGHELGRD
D([FHVLYDFRQIRUPLGDGFRQQXHVWURHQGRJUXSR
E8QDWRWDO\H[DFWDLQIRUPDFLyQVREUHHOREMHWRGHOSUHMXLFLR
F4XHQRVUHVXOWDGHVIDYRUDEOHVXDGRSFLyQ
(QWRGRFRQIOLFWRJUXSDOVHGLVWLQJXHQFODUDPHQWHWUHVIDVHV
D3ULPDULDVHFXQGDULD\WHUFLDULD
E,QLFLRGHVDUUROOR\H[SUHVLyQ
F/DWHQFLDGHVDUUROOR\H[SORVLyQ
(QODUHVROXFLyQGHXQFRQIOLFWRHQWUHGRVJUXSRVGHWUDEDMRVLXQRGHHOORV
VDOHSHUMXGLFDGRODVFRQVHFXHQFLDVGHQWURGHHVHJUXSRVRQ
D$XPHQWRGHODFRKHVLyQHQWUHVXVPLHPEURV
E(OJUXSRWLHQGHDGLYLGLUVH
F0D\RUFRKHVLyQ\DSR\RHQWUHVXVPLHPEURV
(O KHFKR GH FRQVLGHUDU OD FXOWXUD SURSLD FRPR SDWUyQ SDUD PHGLU D RWUDV
FXOWXUDVHVXQIHQyPHQRFRQRFLGRFRPR
D(WQRFHQWULVPR
E'LVWDQFLDVRFLDO
F(QGRJUXSR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRORVPLHPEURVGHXQJUXSRVRFLDOVRQIiFLOPHQWHVXVWLWXLEOHVKDEOD
PRVGHJUXSR
D,QIRUPDO
E$IRUPDO
F6HFXQGDULR
&XDQGRODVRFLDOL]DFLyQVHUHDOL]DWRPDQGRFRPRPRGHORRWURJUXSRVRFLDO
DOFXDOQRSHUWHQHFHPRVSHURTXHGHVHDUtDPRVIRUPDUSDUWHGHpOHQDOJ~QPRPHQ
WRDpVWHVHOHOODPD
D*UXSRGHSHUWHQHQFLD
E*UXSRGHUHIHUHQFLD
F,QWUDJUXSR
1RUPDOPHQWHHOFRQFHSWRGHJUXSRGHLJXDOHVKDFHUHIHUHQFLDDTXHVXV
FRPSRQHQWHVFRLQFLGHQHQ
D7UDEDMR
E(GDG
F$ILFLRQHV
/DIXQFLyQTXHVHFXPSOHHQXQDSRVLFLyQVRFLDOHV
D/DFRQGXFWD
E/DFODVH
F(OURO
(OYtQFXORGHXQLyQHQORVJUXSRVVHFXQGDULRVVRQUHODFLRQHV
D$IHFWLYDV
E'HSRGHU
F'HLQWHUpV
3DUDTXHSXHGDKDEODUVHGHJUXSRVRFLDOHVQHFHVDULRTXHVXVLQWHJUDQWHV
D&RPSDUWDQREMHWLYRVFRPXQHV
E7HQJDQFDUDFWHUtVWLFDVItVLFDVRSVtTXLFDVSDUHFLGDV
F7HQJDQHVWDWXVRUROHVVLPLODUHV
6LQRVUHIHULPRVDXQFRQMXQWRGHVXMHWRVPXWXDPHQWHLPSOLFDGRV\UHOD
FLRQDGRVHQEXVFDGHXQREMHWLYRFRP~QKDEODPRVGH
D$JUXSDFLyQGHPDVDV
E$JUHJDGR
F*UXSRVRFLDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HFRQRFHQFRPRJUXSRVDMHQRVORV
D([WUDJUXSRV
E,QWUDJUXSRV
F'HSHUWHQHQFLD
/RVJUXSRVGHUHIHUHQFLD
D1RVRFLDOL]DQ
E6RQWRPDGRVDYHFHVFRPRPRGHORSDUDVRFLDOL]DUVH
F6RQLJXDOHVDORVGHSHUWHQHQFLD
/RVDILFLRQDGRVDODVPRWRFLFOHWDVIRUPDQVRFLROyJLFDPHQWH
D8QDJUHJDGRHVWDGtVWLFR
E8QDFDWHJRUtDVRFLDO
F8QJUXSRVRFLDO
/DGLYLVLyQGHORVWLSRVGHJUXSRVVRFLDOHVHQLQWUDJUXSRVRHQGRJUXSRV\
H[WUDJUXSRVRH[RJUXSRVVHGHEHD
D6XPPHU
E&RROH\
F/LQWRQ
1RUPDOPHQWH XQD FDUDFWHUtVWLFD IXQGDPHQWDO GH ORV JUXSRV SULPDULRV HV
TXHVRQ
D*UXSRVGHLJXDOHV
E)RUPDOHVHQVXFRQVWLWXFLyQ
F3HTXHxRV
8QVHJPHQWRGHODVRFLHGDGTXHIRUPDQGRSDUWHGHHOODQRSDUWLFLSDHQ
ORVYDORUHVPD\RULWDULRVRGLILHUHGHDOJXQDVRWUDVFDUDFWHUtVWLFDVRUDVJRVFXO
WXUDOHVHV
E*UXSRVRFLDO
F8QDVXEFXOWXUD
/RVYDORUHVFUHHQFLDVFRQRFLPLHQWRVHWFTXHHVWDEOHFHQODEDVHGHOD
IRUPDFLyQGHDFWLWXGHVHQXQDSHUVRQDFRQVWLWX\HQHOOODPDGR
D(OHPHQWRFRJQLWLYR
E(WKRVFXOWXUDO
F(OHPHQWRFRQGXFWXDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OKHFKRGHFRPSDUWLUDFWLWXGHVFRPXQHVORVPLHPEURVGHXQPLVPRJUXSR
VRFLDOVHFRQRFHFRPR
D)XQFLyQGHHFRQRPtD
E)XQFLyQDGDSWDWLYD
F)XQFLyQH[SUHVLYDGHYDORUHV
8QRGHORVHQIRTXHVPiVDFHSWDGRVSDUDGHILQLUHOHVWLORLGyQHRGHOLGHUD]
JRKDVLGRODOODPDGD
D5HMLOODDGPLQLVWUDWLYD
E3LUiPLGHUHSUHVHQWDWLYD
F'LDJUDPDGHIOXMRV
&XDQGRSHQVDPRVTXHORVSROLFtDVGHEHQVHUWLSRVGXURVTXpFRQFHSWR
VRFLROyJLFRHVWDPRVHPSOHDQGR"
D3HUVRQDOLGDGPRGDO
E3HUVRQDOLGDGDXWRULWDULD
F(VWHUHRWLSR
(QWUHODVWHRUtDVPiVFRQRFLGDVUHDOL]DGDVVREUHODVDFWLWXGHVGHODSHUVR
QDDXWRULWDULDILJXUDODGH
D$GRUQR
E&RROH\
F0HUWRQ
(OWLSRGHOLGHUD]JRHQHOTXHVHGHOHJDWRGDVODVFRPSHWHQFLDVHQORVGLV
WLQWRVPLHPEURVGHOJUXSRVLHQGRODIXQFLyQH[FOXVLYDGHOOtGHUHOPRWLYDU\VXSHU
YLVDUHOFXPSOLPLHQWRDGHFXDGRGHFDGDIXQFLyQVHOODPD
D/LGHUD]JRDXWyFUDWD
E/LGHUD]JRSDUWLFLSDWLYR
F/LGHUD]JROLEHUDO
1RHVFDUDFWHUtVWLFDGHODVSHUVRQDVDXWRULWDULDV
D3HVLPLVPRVREUHODQDWXUDOH]DKXPDQD
E6XPLVLyQDOD$XWRULGDG
F7HUQXUD\FRPSUHQVLyQ
/DSUHGLVSRVLFLyQIDYRUDEOHRGHVIDYRUDEOHVREUHXQREMHWRRVXMHWRDG
TXLULGD\HVWDEOHHQEDVHDODVH[SHULHQFLDVORJUDGDVSRUXQFRQRFLPLHQWRSUHYLR
VREUHHOPLVPRVHGHQRPLQD
D3UHMXLFLR
E$FWLWXG
F9DORUHVVRFLDOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DDFWLWXGHVXQDSUHGLVSRVLFLyQTXHQRJR]DGHODVLJXLHQWHFDUDFWHUtVWLFD
D(VWDEOH
E,QQDWD
F$SUHQGLGD
1RHVFLHUWRTXH
D/DVDFWLWXGHVVRQSUHFRQGXFWDV
E/DVFRQGXFWDVWLHQHQXQFRPSRQHQWHDFWLWXGLQDOPX\LPSRUWDQWH
F/DVFRQGXFWDVVHGHEHQH[FOXVLYDPHQWHDODVDFWLWXGHVRSUHGLVSRVLFLRQHV
/DSRVLFLyQTXHXQDSHUVRQDRFXSDGHQWURGHXQJUXSR\SRUODFXDOREWLHQH
XQGHWHUPLQDGRSUHVWLJLRVHFRQRFHFRPR
D5HFRQRFLPLHQWRVRFLDO
E(VWDWXV
F,QVWLWXFLyQ
8QDDFWLWXGQRGHPDVLDGRLPSRUWDQWHHQODFRQILJXUDFLyQGHOVLVWHPD
D1RHVDFWLWXG
E3XHGHFDPELDUVHIiFLOPHQWHVLYDUtDQODVFLUFXQVWDQFLDVGHVXIRUPDFLyQ
F1RYDUtDQXQFD
6RQJUXSRVLPSHUVRQDOHVXWLOLWDULRV\VXVPLHPEURVVRQIiFLOPHQWHVXVWL
WXLEOHV1RVUHIHULPRVD
D*UXSRVVHFXQGDULRV
E0LFURJUXSRV
F0RYLPLHQWRVVRFLDOHV
/DUHDOL]DFLyQGHIXQFLRQHVSURSLDVGHFDGDHGDGSRUODTXHODSHUVRQDSDVD
DORODUJRGHVXYLGDVHFRQRFHHQVRFLRORJtDFRPR
D5ROVHW
E5RODGVFULWR
F5RODGTXLULGR
(OFRQMXQWRGHUHJODVRQRUPDVTXHJXtDQODDFWLYLGDGGHXQDSHUVRQDHQHO
HMHUFLFLRGHVXIXQFLyQGHQWURGHXQJUXSRVRFLDOUHFLEHHOQRPEUHGH
D(VWDWXV
E5RO
F&XOWXUD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVVLVWHPDVGHUROHVFRPSOHPHQWDULRVWHQGHQWHVDXQPLVPRILQVRFLDO
VHFRQRFHHQVRFLRORJtDFRPR
D,QVWLWXFLRQHV
E(VWDWXV
F(VWUXFWXUDVRFLDO
(O DVSHFWR HVWiWLFR GH ODV UHODFLRQHV VRFLDOHV TXH FRQVWLWX\H OD LPDJHQ
TXHVHWLHQHGHORFXSDQWHGHXQDSRVLFLyQVRFLDO\SRUWDQWRGHVXH[SHFWDWLYDGH
FRQGXFWDHV
D([SHFWDWLYDVRFLDO
E(VWDWXV
F5RO
/RVHVWHUHRWLSRVFRPRLPDJHQVLPSOLILFDGDTXHWHQHPRVGHODVSHUVRQDV
TXHSHUWHQHFHQDXQJUXSRWLHQHQODVLJXLHQWHFDUDFWHUtVWLFD
D6HDGTXLHUHQHQODPDGXUH]FRQPRWLYRGHODODUJDH[SHULHQFLDVRFLDO
E6XHOHQFRLQFLGLUFRQODUHDOLGDGVLHQGRSRUWDQWRPiVYHUGDGHURVTXHIDOVRV
F6HFDPELDQGLItFLOPHQWH\DTXHVXHOHQVHUPX\SHUVLVWHQWHV
/RYDORUHVVRFLDOHVVRQHOIXQGDPHQWRGHQXHVWUDVIRUPDVGHKDFHU\GH
YDORUDUODVFRVDVSHRQRWLHQHQLQIOXHQFLDVREUH
D1XHVWUDVUHDFFLRQHVLQVWLQWLYDV
E1XHVWUDVDFWLWXGHV
F1XHVWUDLGHRORJtD
8QFRQMXQWRGHLQGLYLGXRVHQHOTXHVHLGHQWLILFDQXQRVFRQRWURVHLQWHUDF
W~DQHQIRUPDVHVWUXFWXUDGDVGHPDQHUDLQIRUPDORIRUPDO\TXHVHIXQGDPHQWDHQ
QRUPDVPHWDV\YDORUHVTXHHOORVFRPSDUWHQGHIRUPDH[SOtFLWDTXpHV"
D0DVD
E3~EOLFR
F*UXSRVRFLDO
6RQFRPSRQHQWHVGHODFXOWXUD
D/RVVtPERORVHOOHQJXDMH\ORVYDORUHV
E/DVFUHHQFLDVODVQRUPDVVRFLDOHV\ODVUHDOL]DFLRQHVPDWHULDOHV
F7RGRVORVDQWHULRUHV
(OPHFDQLVPRGHUHSURGXFFLyQFXOWXUDO\GHVRFLDOL]DFLyQGHXQDVRFLHGDG
HVRVRQ
D/DVFUHHQFLDV
E(OOHQJXDMH
F/RVYDORUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6L KDEODPRV GH SULQFLSLRV GH DFWXDFLyQ EiVLFRV SDXWDV LGHDOHV GH FRP
SRUWDPLHQWRGHXQJUXSRRVRFLHGDGPRGRVGHSHQVDUHQUDL]DGRVTXHRULHQWDQHO
SURFHGHUGHVXVPLHPEURVQRVHVWDPRVUHILULHQGRD
D/RVYDORUHV
E/DVFUHHQFLDV
F/RVVtPERORV
/DV UHJODV R QRUPDV VRFLDOHV VRQ SDXWDV GH FRQGXFWDV DFHSWDGDV SRU OD
PD\RUtD GH PLHPEURV VRFLDOHV &XDQGR pVWDV QR VRQ H[FHVLYDPHQWH LPSRUWDQWHV
\SRUORWDQWRVXLQFXPSOLPLHQWRQRFDXVDXQJUDQUHFKD]RKDEODPRVHQWpUPLQRV
VRFLROyJLFRVGH
D)RONZD\V
E0RUHV
F/H\HV
&XDQGR XQ VXEJUXSR FXOWXUDO VH RSRQH R HQIUHQWD DO Q~FOHR IXQGDPHQWDO
GHYDORUHVVRFLDOHVTXHFRPSDUWHQHOUHVWRGHPLHPEURVGHXQDPLVPDVRFLHGDG
HVWDPRVDQWHHOFRQFHSWRGH
D'HOLQFXHQFLD
E&RQWUDFXOWXUD
F6REUHFXOWXUD
1XHVWUDSHUVRQDOLGDGHVWiFRQIRUPDGDSRUWUHVHOHPHQWRVIXQGDPHQWDOHV
D/RSVtTXLFRORHVSLULWXDO\ORRUJiQLFR
E/RPDWHULDOORItVLFR\ORVRPiWLFR
F/RSVtTXLFRORItVLFRRELROyJLFR\ORVRFLDO
(OHOHPHQWRFXOWXUDOTXHQRVVLUYHSDUDYDORUDUFRQGXFWDV\FRPSRUWDPLHQ
WRVVRFLDOHV\GHWHUPLQDUORTXHGHEHRQRGHEHVHUHV
D/DFUHHQFLD
E(OYDORU
F(OVtPEROR
/DVSDXWDVGHFRPSRUWDPLHQWRHQWDQWRFRQGXFWDVUHSHWLWLYDV\DFHSWDGDV
SRUORVPLHPEURVVRFLDOHVHVWiQEDVDGDVHQ
D3UiFWLFDVFRDFWLYDVVRFLDOHV
E,PSRVLFLyQVRFLDOREOLJDWRULD
F9DORUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
2UJDQL]DFLyQUHODWLYDPHQWHGXUDGHUDGHFUHHQFLDVHQWRUQRDXQREMHWRR
VLWXDFLyQTXHSUHGLVSRQHQDUHDFFLRQDUSUHIHUHQWHPHQWHGHXQDPDQHUDGHWHUPL
QDGDHVODGHILQLFLyQGH0LOWRQ5RNHDFKUHIHULGDD
D$FWLWXG
E9DORU
F&RQGXFWD
6HxDOHXQDUHVSXHVWDTXHFRQWHQJDXQDFDUDFWHUtVWLFDTXHQROHFRUUHVSRQ
GDDODDFWLWXG
D$SUHQGLGDHVWDEOH\RUJDQL]DGDHQODSHUVRQDOLGDG
E$SUHQGLGDGLULJLGDKDFLDXQREMHWRRVXMHWR
F(VWDEOHLQQDWD\RUJDQL]DGDHQODSHUVRQDOLGDG
&XDQGRHQODUHVROXFLyQGHXQFRQIOLFWRLQWHUJUXSDOVHXWLOL]DXQDWHUFHUD
SHUVRQDTXHHVWXGLDHOSUREOHPD\GLFWDPLQDODVPHGLGDVRSRUWXQDVSDUDFRUUHJLU
ORVHWUDWDGH
D8QDUELWUDMH
E8QDQHJRFLDFLyQ
F8QDPHGLDFLyQ
8QDFDUDFWHUtVWLFDTXHGHEHSRVHHUXQDDFWLWXGHQHOFRQMXQWRRJUXSRGH
DFWLWXGHVUHODFLRQDGDVFRQHOODHQODSHUVRQDOLGDGGHXQDSHUVRQDHV
D4XHSXHGDFDPELDUVHIiFLOPHQWH
E4XHJXDUGHFRKHUHQFLDFRQHOUHVWRGHDFWLWXGHVUHODFLRQDGDV
F4XHVHDLPSRVLEOHGHFDPELDU
6HxDOHXQDFLUFXQVWDQFLDTXHSXHGDRFDVLRQDUHOFDPELRGHDFWLWXGGHXQD
SHUVRQDUHVSHFWRDDOJ~QREMHWRRVXMHWR
D(OFDPELRGHJUXSRDOTXHVHSHUWHQHFHRTXHVLUYDGHUHIHUHQFLD
E/DSHUVRQDOLGDGPRGDOGHODVRFLHGDGDODTXHVHSHUWHQHFH
F1LQJXQDGHODVDQWHULRUHV\DTXHODVDFWLWXGHVQRSXHGHQFDPELDU
/DWpFQLFDVGHODYDGRGHFHUHEURORVPHQVDMHVVXEOLPLQDOHVRODOLJHUD
SUHVLyQRPLHGRPRGHUDGRVRQ
D0HFDQLVPRVFRQYHQFLRQDOHVSRUORVTXHODVRFLHGDGFRQVLJXHHOFXPSOLPLHQWRGHODV
QRUPDVGHVXVFRPSRQHQWHV
E0HFDQLVPRVSDUDIRU]DUXQFDPELRGHDFWLWXG
F3UiFWLFDVWRGDVHOODVUHSXGLDEOHVTXHREOLJDQDODVSHUVRQDVDFRPSRUWDUVHQRUPD
WLYDPHQWH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
7RGDSHUVRQDLQPHUVDHQXQJUXSRVRFLDOWUDWDGHFRQVHJXLUUHFRPSHQVDV\
DODYH]HYLWDUFDVWLJRVSDUDORFXDODGRSWDODVDFWLWXGHVSURSLDVGHORVPLHPEURV
JUXSDOHV$TXpIXQFLyQGHODVDFWLWXGHVQRVUHIHULPRV"
D$GDSWDWLYD
E([SUHVLYD
F5HSUHVLYD
(OKHFKRGHTXHWHQJDPRVPD\RUIDFLOLGDGGHHQWHQGHUDTXHOORSDUDORTXH
HVWDPRVSUHGLVSXHVWRV\SRUORFRQWUDULRWUDWHPRVGHHYLWDULQIRUPDFLyQFRQWUDULD
DQXHVWUDVDFWLWXGHVHVODIXQFLyQGHpVWDVGHQRPLQDGD
D$GDSWDWLYDRXWLOLWDULD
E([SUHVLYD
F'HFRQRFLPLHQWRRHFRQRPtD
$TXHOODV FDUDFWHUtVWLFDV JHQHUDOL]DGDV \ VLPSOLILFDGDV TXH VH DWULEX\HQ D
JUXSRVGHJHQWHHQIRUPDGHHWLTXHWDVVRQ
D6LVWHPDWL]DFLRQHV
E3HUVRQDOLGDGPRGDO
F(VWHUHRWLSRV
3RUTXpORVHVWHUHRWLSRVQRVRQDFRQVHMDEOHVDQWUDWiQGRVHGHFDUDFWH
UtVWLFDVTXHSXHGDQHQWHQGHUVHFRPRSRVLWLYDVSDUDXQJUXSR"
D(QHVWRVFDVRVVtVRQDFRQVHMDEOHVVXDGRSFLyQ\SUiFWLFD
E 3RUTXH QRV LPSLGHQ HQMXLFLDU DGHFXDGDPHQWH D XQD SHUVRQD SHUWHQHFLHQWH D XQ
JUXSRSRUVXVSURSLRVYDORUHV\FDUDFWHUtVWLFDV
F3RUTXHDXQTXHVHDQFLHUWRVQRGHEHPRVDSOLFDUORVHQXQDVRFLHGDGEDVDGDHQOD
WROHUDQFLD
6HxDOHODUHVSXHVWDTXHFRQWHQJDXQDFDUDFWHUtVWLFDQRDSOLFDEOHDXQSUH
MXLFLR
D1RUPDOPHQWHDFHUWDPRVFXDQGRQRVVLWXDPRVHQFRQWUDGHDOJRRGHDOJXLHQDXQ
TXHQRWHQJDPRVH[SHULHQFLDVREUHHOPLVPR
E/RVSUHMXLFLRVORVKHPRVDSUHQGLGRHQHOSURFHVRGHVRFLDOL]DFLyQ
F/RVSUHMXLFLRVQRGHMDQGHVHUDFWLWXGHVSHURHQHVWHFDVRUtJLGDVKDFLDPLHPEURV
GHXQJUXSR
(QODIRUPDFLyQGHORVSUHMXLFLRVHVIXQGDPHQWDO
D8QHOHYDGRFRQRFLPLHQWRVREUHHOREMHWRGHOPLVPR
E(OSDSHOGHOJUXSRDOTXHSHUWHQHFHPRVRGHUHIHUHQFLD
F+DEHUWHQLGRXQFRQWDFWRtQWLPR\SHUVRQDOFRQHOREMHWRGHOSUHMXLFLR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QFRQIOLFWRGHUROHVVHSXHGHUHVROYHUPHGLDQWHPHFDQLVPRVGHGHIHQVD
WDOHVFRPR
D/DFRPSDUWLPHQWDFLyQ\ODSUR\HFFLyQ
E/DSUR\HFFLyQ\HOGHVSOD]DPLHQWR
F/DUDFLRQDOL]DFLyQ\ODFRPSDUWLPHQWDFLyQ
(OUROGHHGDGHVXQURO
D$GVFULWR
E$GTXLULGR
F,QQDWR
(VXQFRQFHSWRGLQiPLFR\DTXHVHWUDWDGHUHDOL]DUXQDVGHWHUPLQDGDV
FRQGXFWDV
D/RVHVWDWXV
E/DVSRVLFLRQHVVRFLDOHV
F/RVUROHV
&XDQGRHOFRQIOLFWRHQWUHJUXSRVQRDOFDQ]DXQDLQWHQVLGDGWDOTXHLPSLGHHO
QRUPDOGHVDUUROORGHODVIXQFLRQHVGHFDGDJUXSRVLQRSRUHOFRQWUDULRVHSXHGHDSUR
YHFKDUSDUDFRQVHJXLUPD\RUHVUHQGLPLHQWRVHVWHFRQIOLFWRUHFLEHHOQRPEUHGH
D)XQFLRQDO
E3RVLWLYR
F3VHXGRFRQIOLFWR
/DVFDUDFWHUtVWLFDVQHFHVDULDVTXHSUHFLVDXQDSHUVRQDSDUDSRGHUHMHUFHU
XQUROFRQVXILFLHQFLDHVORTXHVHFRQRFHFRPR
D5ROVRFLDO
E7UDQVLFLyQGHOURO
F3HUVRQDOLGDGGHURO
6LGHFLPRVGHVXVPLHPEURVTXHQRVRQVyORORVPHGLRVXWLOL]DGRVSDUDFRQ
VHJXLUORVILQHVJUXSDOHVVLQRTXHVRQORVSURSLRVILQHVQRVHVWDPRVUHILULHQGRD
D*UXSRVSURIHVLRQDOHV
E*UXSRVSULPDULRV
F*UXSRVXWLOLWDULRV
&XDQGRXQDSHUVRQDVHQLHJDDDFHSWDUHOUROTXHHQODVLJXLHQWHHWDSD
GHVXYLGDOHFRUUHVSRQGHHMHUFHUGHWDOPDQHUDTXHWUDWDSRUWRGRVORVPHGLRVGH
PDQWHQHUHOHMHUFLFLRGHOURODQWHULRUVHKDEODGH
D&RQIOLFWRGHUROHV
E7UDQVLFLyQGHUROHV
F'LVFRQWLQXLGDGGHUROHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6L FRPR FRQVHFXHQFLD GH XQ FRQIOLFWR JUXSDO H[LVWH XQ GLVWDQFLDPLHQWR
HQWUHODVSHUVRQDV\XQSHUMXLFLRDODRUJDQL]DFLyQQRVUHIHULPRVD
D&RQIOLFWRLQWHUSHUVRQDO
E&RQIOLFWRGLVIXQFLRQDO
F&RQIOLFWRGXDO
(OHOHPHQWRRHOHPHQWRVTXHPiVLQIOX\HQHQODDGRSFLyQGHXQDDFWLWXGVRQ
D(OJUXSRDOTXHSHUWHQHFHPRV
E1XHVWUDVQHFHVLGDGHVSHUVRQDOHV
F/DLQIRUPDFLyQTXHUHFLELPRV
/RVWUHVHOHPHQWRVIXQGDPHQWDOHVGHODSHUVRQDOLGDGVRQ
D(OHOHPHQWRItVLFRHOHOHPHQWRSVtTXLFR\HOHOHPHQWRPRUDO
E(OHOHPHQWRLQVWLQWLYRHOFRJQLWLYR\HOFRQGXFWXDO
F(OHOHPHQWRItVLFRHOSVtTXLFR\HOVRFLDO
1RHVXQHOHPHQWRGHQXHVWUDSHUVRQDOLGDG
D(OHOHPHQWRVRFLDO
E(OHOHPHQWRSVtTXLFR
F(OHOHPHQWRQDWXUDO
/DVSDXWDVLQWHUQDVGHFRPSRUWDPLHQWRVTXHQRVSUHGLVSRQHQHQXQVHQ
WLGRRHQRWURVHVWiQEDVDGDVIXQGDPHQWDOPHQWHHQ
D9DORUHVVRFLDOHV
E$FWLWXGHV
F&LUFXQVWDQFLDV
8QFRQIOLFWRGHUROHVVHVROXFLRQDFRQPHFDQLVPRVWDOHVFRPR
D/DUDFLRQDOL]DFLyQ\ODFRPSDUWLPHQWDFLyQ
E/DDGMXGLFDFLyQ
/RVJUXSRVDORVTXHODSHUVRQDSHUWHQHFHSRUQDFLPLHQWRRSRVLFLyQVRFLDO
\SRUORWDQWRGHHOORVDSUHQGHUiODVQRUPDVYDORUHVVtPERORVFUHHQFLDVHWFTXH
IRUPDQSDUWHGHVXSURSLDSHUVRQDOLGDGVHGHQRPLQDQ
D'HSHUWHQHQFLD
E'HUHIHUHQFLD
F1DWXUDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DFDSDFLGDGGHXQDSHUVRQDGHQWURGHXQJUXSRSDUDLQYROXFUDU\PRWLYDU
DWRGRVORVGHPiVFRPSRQHQWHVHQVXVUHVSHFWLYDVIXQFLRQHVVHOODPD
D3HUVXDVLyQ
E/LGHUD]JR
F5HVSRQVDELOLGDG
&yPR VH GHQRPLQD OD FDSDFLGDG GH DOJXQDV SHUVRQDV GH LQIOXLU HQ ORV
GHPiVKDFLHQGRFDPELDULQFOXVRVXVSURSLRVYDORUHV\DFWLWXGHVVRFLDOHV"
D6XJHVWLyQ
E/LGHUD]JR
F3RGHU
$TXHOORVJUXSRVVRFLDOHVTXHWLHQHQFRPRILQDOLGDGGHWRGRVVXVPLHP
EURVFDSWDUHOIDYRUGHODRSLQLyQS~EOLFDDILQGHLQIOXLUHQHOSRGHUSDUDREWHQHU
EHQHILFLRGHVXVVHJXLGRUHVVHGHQRPLQDQ
D*UXSRVSROtWLFRV
E*UXSRVGHPHUFDGR
F*UXSRVGHSUHVLyQ
(OOtGHUFDSD]GHLQYROXFUDUFRQVXHMHPSORDWRGRVVXVVHJXLGRUHVSRUTXH
SRVHHXQDVFDUDFWHUtVWLFDVLQQDWDVGHDWUDFFLyQSHUVRQDOTXHKDFHPRGLILFDUDF
WLWXGHV\FRQGXFWDVHQODVSHUVRQDVTXHORDGPLUDQVHFRQRFHFRQHOQRPEUHGH
D/tGHUGHRSLQLyQ
E/tGHUFDULVPiWLFR
F/tGHUDXWyFUDWD
8QOREE\WDOFRPRSXHGDQVHURUJDQL]DFLRQHVGHIHQVRUDVGHO1RDODERUWR
RGHOPRYLPLHQWRJD\TXHWUDWDQGHLPSRQHUVXVLQWHUHVHVDODVRFLHGDGHMHUFLHQGR
VXLQIOXHQFLDVREUHHOSRGHUSROtWLFRWLHQHQXQWpUPLQRSURSLRTXHHV
D*UXSRGHSUHVLyQRGHSRGHU
E$VRFLDFLyQLQFRQVWLWXFLRQDO
F*UXSRSROtWLFR
8QOtGHUGHJUXSRLPSXHVWRSRUODRUJDQL]DFLyQHV
D8QSVHXGROtGHU
E8QJHVWRU
F8QOtGHUIRUPDO

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
F'RJPDWLVPR
D(WQRFHQWULVPR
F3RUODDGDSWDFLyQ
E'HDILUPDFLyQRH[SUHVLYD
F0RWLYDUXQFDPELRGHFRQGXFWDHQORVPLHPEURVGHOJUXSR
F9DORUVRFLDO
D(OWHPSHUDPHQWR
E1RUPDV
F0RUHV
E'HSUR\HFFLyQ
E'RJPDWLVPR
E1RHVXQDDFWLWXG
E$GDSWDWLYD
F$XWRULWDULD
F0HGLDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D6HROYLGDQGLIHUHQFLDVSHUVRQDOHV\VHSDVDDXQFOLPDPiVIRUPDOLVWD
D6HUHEDMHODWHQVLyQH[LVWHQWHHQWUHVXVPLHPEURV
D(OHYDGR
E1XQFDVHSXHGHFRQVLGHUDUJUXSRVRFLDO
E)DPLOLD\DPLJRV
D0RGHUQDV
F/DLQWHUDFFLyQVRFLDOHVSHUVRQDO
E$JUHJDGRHVWDGtVWLFR
F&RROH\
F/DVUHODFLRQHVVHFXQGDULDVWUDWDQGHVXVWLWXLUDODVSULPDULDV
D9LHQHH[LJLGDSDUDTXHVHDQFRQVLGHUDGRVFRPRWDOHV
F/DH[LVWHQFLDGHXQHVIXHU]RFRP~QGLULJLGRKDFLDXQRVILQHVVRFLDOHV
D4XHLQWHUDFW~HQVRFLDOPHQWHGXUDQWHXQWLHPSRSURORQJDGR
D6XHQGRJUXSR
E&XOWXUD
F/DVDFWLWXGHVFRPSDUWLGDVSRUORVPLHPEURVGHOJUXSR
F$FWLWXG
D7HQGHQFLDO
F&RPSRQHQWHDIHFWLYRRVHQWLPHQWDO
E'RJPDWLVPR
F)XQGDPHQWRFRJQLWLYR
E(VWHUHRWLSR
D(OHPHQWRDIHFWLYR
F3UHMXLFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E(OFRQRFLPLHQWRGHWDOODGR\H[DFWRGHOREMHWRRVXMHWRGHOSUHMXLFLR
E(VXQSUHMXLFLRGHHQGRJUXSR
D7HQGHQFLDO
D6LPSOLILFDQODH[SHULHQFLD
D([FHVLYDFRQIRUPLGDGFRQQXHVWURHQGRJUXSR
F/DWHQFLDGHVDUUROOR\H[SORVLyQ
E(OJUXSRWLHQGHDGLYLGLUVH
D(WQRFHQWULVPR
F6HFXQGDULR
E*UXSRGHUHIHUHQFLD
E(GDG
F(OURO
F'HLQWHUpV
D&RPSDUWDQREMHWLYRVFRPXQHV
F*UXSRVRFLDO
D([WUDJUXSRV
E6RQWRPDGRVDYHFHVFRPRPRGHORSDUDVRFLDOL]DUVH
D6XPPHU
F3HTXHxRV
F8QDVXEFXOWXUD
D(OHPHQWRFRJQLWLYR
E)XQFLyQDGDSWDWLYD
D5HMLOODDGPLQLVWUDWLYD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(VWHUHRWLSR
D$GRUQR
F/LGHUD]JROLEHUDO
F7HUQXUD\FRPSUHQVLyQ
E$FWLWXG
E,QQDWD
F/DVFRQGXFWDVVHGHEHQH[FOXVLYDPHQWHDODVDFWLWXGHVRSUHGLVSRVLFLRQHV
E(VWDWXV
E3XHGHFDPELDUVHIiFLOPHQWHVLYDUtDQODVFLUFXQVWDQFLDVGHVXIRUPDFLyQ
D*UXSRVVHFXQGDULRV
E5RODGVFULWR
E5RO
D,QVWLWXFLRQHV
E(VWDWXV
F6HFDPELDQGLItFLOPHQWH\DTXHVXHOHQVHUPX\SHUVLVWHQWHV
D1XHVWUDVUHDFFLRQHVLQVWLQWLYDV
F*UXSRVRFLDO
F7RGRVORVDQWHULRUHV
E(OOHQJXDMH
D/RVYDORUHV
D)RONZD\V
E&RQWUDFXOWXUD
F/RSVtTXLFRORItVLFRRELROyJLFR\ORVRFLDO
E(OYDORU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F9DORUHV
D$FWLWXG
F(VWDEOHLQQDWD\RUJDQL]DGDHQODSHUVRQDOLGDG
D8QDUELWUDMH
E4XHJXDUGHFRKHUHQFLDFRQHOUHVWRGHDFWLWXGHVUHODFLRQDGDV
D(OFDPELRGHJUXSRDOTXHVHSHUWHQHFHRTXHVLUYDGHUHIHUHQFLD
E0HFDQLVPRVSDUDIRU]DUXQFDPELRGHDFWLWXG
D$GDSWDWLYD
F'HFRQRFLPLHQWRRHFRQRPtD
F(VWHUHRWLSRV
E3RUTXHQRVLPSLGHQHQMXLFLDUDGHFXDGDPHQWHDXQDSHUVRQDSHUWHQHFLHQWHD
XQJUXSRSRUVXVSURSLRVYDORUHV\FDUDFWHUtVWLFDV
D1RUPDOPHQWHDFHUWDPRVFXDQGRQRVVLWXDPRVHQFRQWUDGHDOJRRGHDOJXLHQ
DXQTXHQRWHQJDPRVH[SHULHQFLDVREUHHOPLVPR
E(OSDSHOGHOJUXSRDOTXHSHUWHQHFHPRVRGHUHIHUHQFLD
F/DUDFLRQDOL]DFLyQ\ODFRPSDUWLPHQWDFLyQ
D$GVFULWR
F/RVUROHV
D)XQFLRQDO
F3HUVRQDOLGDGGHURO
E*UXSRVSULPDULRV
F'LVFRQWLQXLGDGGHUROHV
E&RQIOLFWRGLVIXQFLRQDO
E1XHVWUDVQHFHVLGDGHVSHUVRQDOHV
F(OHOHPHQWRItVLFRHOSVtTXLFR\HOVRFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(OHOHPHQWRQDWXUDO
D9DORUHVVRFLDOHV
D'HSHUWHQHQFLD
E/LGHUD]JR
E/LGHUD]JR
F*UXSRVGHSUHVLyQ
E/tGHUFDULVPiWLFR
D*UXSRGHSUHVLyQRGHSRGHU
F8QOtGHUIRUPDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
,10,*5$&,1029,0,(17260,*5$725,26&21&(372<&$86$6'(/$6
0,*5$&,21(67,326<()(&726/$6*5$1'(60,*5$&,21(6$75$9e6
'(/$+,6725,$/$60,*5$&,21(6(1/$$&78$/,'$'352%/(07,&$
'(/$,17(*5$&,1
$ODVPLJUDFLRQHVGLDULDVGHFDVDDOFHQWURGHWUDEDMRVHODVFRQRFHFRQHO
QRPEUHGH
D([WHULRUHV
E3HQGXODUHV
F8UEDQDV
&yPRVHFDOFXODHOVDOGRPLJUDWRULR"
D5HVWDQGRODLQPLJUDFLyQGHODHPLJUDFLyQUHVSHFWRDODSREODFLyQWRWDO
E5HVWDQGRHOFUHFLPLHQWRQDWXUDOGHOFUHFLPLHQWRUHDO
F5HVWDQGRORVHPLJUDQWHVHLQPLJUDQWHVGHOVDOGRQDWXUDO
&XiOHVODSULQFLSDOFDXVDGHODVPLJUDFLRQHVVHJ~QHO&RQVHMRGH(XURSD"
D3RFDJOREDOL]DFLyQGHPHUFDGRV
E'LIHUHQFLDVHQWUHORVGHVDUUROORVGHODVHFRQRPtDV
F'HVDUUROORSDXODWLQRGHORVSDtVHVGHO6XU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVGLPHQVLRQHVGHWRGDPLJUDFLyQVRQ
D6RFLDOHVSDFLDO\WHPSRUDO
E3ROtWLFRHVSDFLDO\VRFLDO
F(VSDFLDOVRFLDO\JHRJUiILFD
/D UHODFLyQ H[LVWHQWH HQWUH ORV HPLJUDQWHV \ OD SREODFLyQ WRWDO GHO SDtV VH
FRQRFHFRPR
D7DVDQHWDGHPLJUDFLyQ
E6DOGRPLJUDWRULRRHVSDFLDO
F7DVDGHHPLJUDFLyQ
6HJ~Q&DVWUHV\0LOODUODWHQGHQFLDDFWXDOGHODVPLJUDFLRQHVHV
D+DFLDXQDPD\RUIHPLQL]DFLyQ
E+DFLDXQDGLVPLQXFLyQGHVXYROXPHQ
F+DFLDXQPD\RUtQGLFHGHOLFWLYR
&XiOHVHOWpUPLQRHPSOHDGRSDUDGHVLJQDUDWRGDSHUVRQDTXHDOVHQWLUVH
SHUVHJXLGRHQVXSDtVGHRULJHQSRUPRWLYRVGHUHOLJLyQUD]DRSLQLRQHVSROtWLFDV
HWFVHYHREOLJDGRDVDOLUGHpO"
D'HVSOD]DGR
E5HIXJLDGR
F&RQGHQDGR
6LKDEODPRVGHODVWHQVLRQHVRIXHU]DV3XVK3XOOHQUHODFLyQFRQORVPRYL
PLHQWRVPLJUDWRULRVQRVHVWDPRVUHILULHQGRD
D)XHU]DVSROtWLFDVSDUDLQFHQWLYDUODVPLJUDFLRQHV
E0RYLPLHQWRVREUHURVHQFRQWUDGHODVLQPLJUDFLRQHV
F)XHU]DVTXHHPSXMDQDVDOLUGHXQOXJDU\DWUDHQDRWURGHWHUPLQDGR
(OPRYLPLHQWRPLJUDWRULRGHUHWRUQRD]RQDVUXUDOHVSRUSHUVRQDVTXHIXHURQ
FRPSRQHQWHVGHORTXHVHKDOODPDGRp[RGRUXUDOVHFRQRFHFRQHOWpUPLQR
D'HVXUEDQL]DFLyQ
E5HUXUDOL]DFLyQ
F6XEXUEDQL]DFLyQ
/D IyUPXOD GH LQWHJUDFLyQ TXH FRQVLVWH HQ TXH ORV LQPLJUDQWHV SDUD QR
HQWUDUHQXQSURFHVRGHH[FOXVLyQYDQDEDQGRQDQGRVXVUDVJRVFXOWXUDOHV\DGRS
WDQGRORVGHODVRFLHGDGHQTXHHVWiQLQWHQWDQGRLQWHJUDUVHHV
D0XOWLFXOWXUDOLVPR
F$VLPLODFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DIyUPXODGHLQWHJUDFLyQFRQVLVWHQWHHQTXHODVGLIHUHQWHVFXOWXUDVFRQ
FXUUHQWHVHQXQSDtVVHKDFHQUHVSHWDUPDQWHQLHQGROD]RVGHXQLyQFRPXQHVSRU
HQFLPDGHODVGLIHUHQFLDVpWQLFDVVHFRQRFHFRPR
D0XOWLFXOWXUDOLVPR
F$VLPLODFLyQ
4XpWLHPSRSXHGHHVWDUXQH[WUDQMHUROHJDOPHQWHFRPRWXULVWDHQ(VSDxD"
D8QDxR
E7UHVPHVHV
F'LH]PHVHV
(OSURFHVRPHGLDQWHHOFXDOORVLQPLJUDQWHVOOHJDQDSDUWLFLSDUDFWLYDPHQWH
HQODYLGDHFRQyPLFDVRFLDO\FXOWXUDOGHOSDtVGHDFRJLGDVHFRQRFHFRPR
D0XOWLFXOWXUDOLVPR
E$VLPLODFLyQ
F,QWHJUDFLyQ
6HxDOHXQIDFWRULQIOX\HQWHVHJ~QHO&RQVHMRGH(XURSDTXHH[SOLFDODLP
SRUWDQFLDGHORVPRYLPLHQWRVPLJUDWRULRVKDFLDHVWD]RQD
D/DEDMDQDWDOLGDGGHORVSDtVHVGHO6XUKDFHTXHQRVHGHVDUUROOHQ\WHQJDQTXH
HPLJUDU
E(OLPSRUWDQWHFUHFLPLHQWRGHPRJUiILFRGHORVSDtVHVGHO6XUTXHFRQWUDVWDFRQOD
EDMDQDWDOLGDGGHO1RUWH
F(OUHVSHWRSRUORV'HUHFKRV+XPDQRVHQWRGRVORVSDtVHVGHOPXQGRKDFHTXHVH
HPLJUHFRQPD\RUFRQILDQ]D
8QDGHODVVLJXLHQWHVUHVSXHVWDVFRQWLHQHXQGDWRTXHHVIDOVRUHVSHFWRD
ODVPLJUDFLRQHVHQJHQHUDO
D(QVXPD\RUtDVRQMyYHQHV
E/DSURFHGHQFLDPiVKDELWXDOVRQGH]RQDVUXUDOHV
F(OQ~PHURGHKRPEUHV\PXMHUHVHPLJUDQWHVHVHOPLVPR
'HVGHPHGLDGRVGHOVLJOR;;(VSDxDHVSDtVRULJHQGHHPLJUDQWHVPD\R
ULWDULDPHQWH
D(QODSULPHUDHWDSDGHOD'LFWDGXUD
E(QWUH\
F$SDUWLUGH\KDVWDHODxR
$FWXDOPHQWHHOSDtVHXURSHRFRQPD\RUQ~PHURGHLQPLJUDQWHVHV
D$OHPDQLD
E)UDQFLD
F(VSDxD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$ODVPLJUDFLRQHVGLDULDVVHODVFRQRFHWDPELpQFRPR
D3HQGXODUHV
Ee[RGRUXUDO
F,QWHULRUHV
8QHIHFWRGHODVPLJUDFLRQHVH[WHULRUHVHQFXDQWRDOSDtVGHDFRJLGDHV
D'HVFHQVRGHODQDWDOLGDG
E(QWUDGDLPSRUWDQWHGHGLYLVDV
F0DQRGHREUDEDUDWD
(O3HUPLVRGH5HVLGHQFLD3HUPDQHQWHORSXHGHREWHQHUXQH[WUDQMHUR
D4XHOOHYHOHJDOPHQWHGLH]DxRVHQ(VSDxD
E7UDVDJRWDUHOSHULRGROHJDOFRPRWXULVWD
F7UDQVFXUULGRHOSHULRGRGH5HVLGHQFLD7HPSRUDO
&XiQWRVWLSRVGH3HUPLVRVGH5HVLGHQFLD7HPSRUDOH[LVWHQHQ(VSDxD"
D,QLFLDO\UHQRYDGD
E8QVRORWLSRFX\DGXUDFLyQHVGHFLQFRDxRV
F8QVRORWLSRFX\DGXUDFLyQHVGHFXDWURDxRV
&XiOHVGHORVVLJXLHQWHVGDWRVGHPRJUiILFRVQRDIHFWDDOHQYHMHFLPLHQWR
GHODSREODFLyQGHXQPLVPRSDtV"
D6DOGRQDWXUDO
E6DOGRYHJHWDWLYR
F0LJUDFLyQLQWHULRU
(OGHVFXEULPLHQWRGHXQRVSR]RVGHKLGURFDUEXURVKDFHTXHXQD]RQDVH
FRPLHQFHDUHSREODUFRQHPLJUDQWHVGHRWURVSDtVHV(VWDFDXVDGHHPLJUDFLyQVH
FRQVLGHUD
D1DWXUDO
E6RFLDO
F(FRQyPLFD
3DUDYROYHUDSREODUXQQ~FOHRUXUDOXQDDGPLQLVWUDFLyQSURSRQHLQFHQWLYRV
GHFXDOTXLHUWLSRDODSREODFLyQHPLJUDQWH(VWDPLJUDFLyQSXHGHFRQVLGHUDUVH
D)RPHQWDGD
E1DWXUDO
F3ROtWLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OGHVSOD]DPLHQWRGHSREODFLyQGH]RQDVDJUtFRODVDJUDQGHVXUEHVVHFR
QRFHFRPR
De[RGRUXUDO
E0LJUDFLyQWHPSRUDO
F0LJUDFLyQLQWUDXUEDQD
6HxDOH OD FDXVD IXQGDPHQWDO SRU OD TXH OD JHQWH HPLJUD GHO FDPSR D OD
FLXGDG
D3DUDPHMRUDUVXHVWDWXV
E3DUDPHMRUDUVXHFRQRPtD
/DVFDXVDVIXQGDPHQWDOHVGHORVPRYLPLHQWRVPLJUDWRULRVVRQ
D6RFLDOHV
E(FRQyPLFDV
F1DWXUDOHV
(QJHQHUDOVHSXHGHGHFLUTXHHOHIHFWRGHODVPLJUDFLRQHVWDQWRHQORV
SDtVHVGHDFRJLGDFRPRGHRULJHQHV
D%HQHILFLRVRVyORSDUDORVSULPHURV
E3HUMXGLFLDOSDUDDPERVSDtVHV
F%HQHILFLRVRSDUDORVGRVSDtVHV
/DGLIHUHQFLDHQWUHORVLQPLJUDQWHV\ORVHPLJUDQWHVHQXQPLVPRSDtVVH
GHQRPLQD
D6DOGRPLJUDWRULR
E6DOGRYHJHWDWLYR
F&UHFLPLHQWRQDWXUDO
(VFDXVDGHVHJUHJDFLyQGHODSREODFLyQLQPLJUDQWH
D/DVUHODFLRQHVODERUDOHVQRUHJODGDV
E3ROtWLFDVGHUHDJUXSDPLHQWRIDPLOLDU
F/DLQVFULSFLyQGHLQPLJUDQWHVHQORVSDGURQHVPXQLFLSDOHV
'HTXpSURFHGHQFLDVRQPD\RULWDULDPHQWHODVPXMHUHVLQPLJUDQWHVHQ(V
SDxD"
D'H0DUUXHFRV
E'HORVSDtVHVGHO(VWH
F'H,EHURDPpULFD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$ODYLVWDGHXQDSHUVRQDTXHGHVHHVDOLUGHVXSDtVSRUTXHODVFRQGLFLRQHV
GHYLGDQROHVHDQIDYRUDEOHVHOKHFKRGHSHQVDUHQXQGHWHUPLQDGRGHVWLQRHQ
HOTXHODSUiFWLFDGHODGHPRFUDFLDVHDXQDUHDOLGDGODHFRQRPtDHVWiELHQGHVD
UUROODGD\ODOLEHUWDGSHUVRQDOSXHGDHMHUFHUVHVLQWUDEDVVRQPRWLYRVTXHHQODV
WHRUtDVGHODHPLJUDFLyQVHGHQRPLQDQ
D)XHU]DVGHDWUDFFLyQ
E0RWLYRVGHH[SXOVLyQ
(QTXpSURYLQFLDGHODVFRQWHQLGDVHQODVUHSXHVWDVWLHQHPHQRVLQFLGHQ
FLDHOIHQyPHQRLQPLJUDWRULRHQODDFWXDOLGDG"
D0XUFLD
E/XJR
F9DOHQFLD
/DVPLJUDFLRQHVDFWXDOHVVHGLIHUHQFLDQGHODVTXHVHSURGXMHURQHQHOVLJOR
;,;\SULQFLSLRVGHO;;HQTXH
D/RVSDtVHVUHFHSWRUHVQRSXVLHURQREVWiFXORVDODOOHJDGDGHLQPLJUDQWHV
E/DVDFWXDOHVVRQGHXQYROXPHQPXFKRPD\RU
F(OSHUILOGHODVDFWXDOHVUHIOHMDXQDPD\RUtDGHYDURQHVDOFRQWUDULRGHDTXpOODVHQ
TXHHUDQPXMHUHVODPD\RUtD
8QDFRQVWDQWHHQODHYROXFLyQGHOIOXMRPLJUDWRULRGHXQSDtVKDFLDRWURHQ
WRGDVODVPLJUDFLRQHVHVTXH
D(QHOSDtVGHRULJHQFRPLHQ]DDKDEHUWDVDVGHQDWDOLGDGVXSHULRUHV
E(OSDtVGHGRQGHSDUWHQORVHPLJUDQWHVHPSLH]DDUHMXYHQHFHUVH
F (Q XQ SULQFLSLR D PD\RU OOHJDGD GH UHPHVDV GH ORV HPLJUDQWHV PD\RU HIHFWR GH
OODPDGDDODHPLJUDFLyQ
1RHVXQDPHGLGDDGHFXDGDSDUDWUDWDUGHIRPHQWDUODLQWHJUDFLyQGHORV
LQPLJUDQWHVHQODVRFLHGDGTXHORVUHFLEH
D)DYRUHFHUODUHDJUXSDFLyQIDPLOLDUGHOLQPLJUDQWH
E$FHOHUDUORVWUiPLWHVEXURFUiWLFRVSDUDVXOHJDOL]DFLyQ
F(YLWDUTXHVHFRPSDUWDQHVSDFLRV\XVRVXUEDQRVGHORVLQPLJUDQWHVFRQHOUHVWRGH
ODSREODFLyQ
(QUHODFLyQFRQODLQPLJUDFLyQHQ(VSDxDHVFLHUWRTXH
D/DGHQVLGDGPHGLDGHLQPLJUDQWHVVHUHSDUWHHTXLWDWLYDPHQWHDORDQFKRGHWRGRHO
WHUULWRULRQDFLRQDO
E(OSDtVTXHPiVLQPLJUDQWHVDSRUWDHV5XPDQtD
F/DPHGLDGHHGDGGHORVLQPLJUDQWHVGHELGRDTXHHQVXJUDQPD\RUtDVRQHXURSHRV
HQHGDGGHMXELODFLyQHVPX\DOWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QHIHFWRGHXQDPLJUDFLyQLQWHULRUHQ(VSDxDHV
D$XPHQWRGHODSREODFLyQ
E$XPHQWRGHODQDWDOLGDGHQOD]RQDGHGHVWLQR
F/OHJDGDGHGLYLVDVDOUHVWRGHOSDtV
(VSDxDKDSDVDGRGHVHUXQSDtVRULJHQDUHFHSWRUGHHPLJUDQWHVGHELGRD
VXDFWXDOSRVLFLyQHFRQyPLFDeVWDVHGHELyHQJUDQSDUWHD
D/DD\XGDHFRQyPLFDGLUHFWDGHORV((88GH$PpULFD
E$ODVUHPHVDVTXHLQJUHVDEDQHQQXHVWURSDtVQXHVWURVSURSLRVHPLJUDQWHV
F$OGHVFXEULPLHQWRGHPDWHULDVSULPDVHQHUJpWLFDV
(QFXDQWRDODPHGLDGHHGDGGHODSREODFLyQHVSDxRODHQUHODFLyQFRQOD
GHORVLQPLJUDQWHVVHSXHGHDVHJXUDUTXH
D/DWHQGHQFLDFODUDGHODSREODFLyQHVSDxRODHVDOUHMXYHQHFLPLHQWRDXQTXHVHYH
IUHQDGRSRUODLQPLJUDFLyQFRQWHQGHQFLDFRQWUDULD
E7DQWRODSREODFLyQLQPLJUDQWHFRPRODDXWyFWRQDWLHQGHQDUHMXYHQHFHUODPHGLDGH
HGDGGH(VSDxD
F/DSREODFLyQGH(VSDxDHVWiHQYHMHFLGDPLHQWUDVTXHHODSRUWHLQPLJUDQWHWLHQGHD
FRUUHJLUHVWDWHQGHQFLD
'HVGHTXpIHFKDDSUR[LPDGD(VSDxDSUHVHQWDODVPiVDOWDVWDVDVGHLQ
PLJUDFLyQGHOPXQGR"
D'HVGHHODxR
E'HVGHODHQWUDGDGH(VSDxDHQOD8QLyQ(XURSHD
F(VSDxDQXQFDKDSUHVHQWDGRODVWDVDVGHLQPLJUDFLyQPD\RUHVGHOPXQGR
(OWpUPLQR3XVK3XOOUHIHUHQWHDODVPLJUDFLRQHVKDFHUHIHUHQFLDD
D/DKXLGDGHFHUHEURVDSDtVHVPX\GHVDUUROODGRV
E0LJUDFLRQHVVRFLDOHVIRU]DGDV
F)XHU]DVGHH[SXOVLyQ\DWUDFFLyQTXHLQFOLQDQDODSREODFLyQDHPLJUDU
(Q HO VLJOR ;,; HQ FXDQWR D PRYLPLHQWRV SREODFLRQDOHV PLJUDWRULRV HQWUH
(XURSD\$PpULFDQXHVWURFRQWLQHQWHHUD
D=RQDGHOOHJDGDGHHPLJUDQWHV
E8QFRQWLQHQWHFRQVDOGRPLJUDWRULRQXOR
F=RQDRULJHQGHODHPLJUDFLyQ
6HxDOHODUHVSXHVWDTXHFRQWLHQHHOQRPEUHGHXQFLHQWtILFRGLUHFWDPHQWH
UHODFLRQDGRFRQHOHVWXGLRGHODVPLJUDFLRQHV\TXHHQHOVLJOR;,;HVWDEOHFLyXQD
VHULHGHOH\HVHQTXHWRGDVFRLQFLGtDQ
D0DOWKXV
E1RWHVWHLQ
F5DYHQVWHLQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpFRQVLVWHHOFRQRFLGRFRPRIHQyPHQR%UDLQ'UDLQ"
D/DHPLJUDFLyQGHOFDPSRDODFLXGDG
E7UDVODGRGHPHQWHVSULYLOHJLDGDVGHXQDVQDFLRQHVDRWUDV
F5HSREODFLyQGHXQWHUULWRULRGHPDQHUDLPSXOVDGD
7HQLHQGRHQFXHQWDHOSHUILOPHGLRODSREODFLyQHPLJUDQWHVHFDUDFWHUL]DSRU
D6HUMRYHQHQVXPD\RUtD
E8QDIXHUWHSUHSDUDFLyQWpFQLFD
F7HQHUXQRULJHQXUEDQRHQJHQHUDO
8Q PRYLPLHQWR SREODFLRQDO GHELGR D OD UHFROHFWD GH XQ SURGXFWR DJUDULR
GHQWURGHXQPLVPRSDtVVHFDOLILFDFRPR
D0LJUDFLyQH[WHULRUWHPSRUDO
E0LJUDFLyQLQWHULRUHVWDFLRQDO
F0LJUDFLyQLQWHULRUGLDULD
(Q(VSDxDDFWXDOPHQWHHOVDOGRPLJUDWRULR
D(VSRVLWLYR
E(VQHJDWLYR
F5HVXOWDQXOR
6HxDOHFXiOGHODVVLJXLHQWHVUHVSXHVWDVHVIDOVD
D(VSDxDIXHSDtVHPLVRUGHHPLJUDQWHVHQODVGpFDGDVGHORVDxRVFLQFXHQWD\VH
VHQWD
E(VSDxDDXPHQWyVXSREODFLyQGXUDQWHORVDxRVVHVHQWD
F(VSDxDWLHQHXQDSUHVLyQLQPLJUDQWHPX\LQIHULRUDOUHVWRGHSDtVHVHXURSHRV
/DVPHMRUHVFRQGLFLRQHVGHYLGDHQODFLXGDGFRQOOHYDQ
D(Op[RGRUXUDO
E/DHPLJUDFLyQD]RQDVUXUDOHV
F'HVHTXLOLEULRVHQODSHUVRQDOLGDG
/DGLIHUHQFLDQXPpULFDHQWUHORVLQPLJUDQWHV\HPLJUDQWHVHQXQSDtVGHWHU
PLQDGRHQUHODFLyQFRQODSREODFLyQWRWDOGHHVHSDtVHV
D6DOGRPLJUDWRULRUHODWLYR
E&UHFLPLHQWRQDWXUDO
F6DOGRYHJHWDWLYR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpSRUFHQWDMHGHLQPLJUDQWHVWLHQH(VSDxDHQUHODFLyQFRQODSREODFLyQ
WRWDOGHOSDtV"
D8QDSUR[LPDGDPHQWH
E$OUHGHGRUGHO
F(QODDFWXDOLGDGVREUHSDVDHO
(QWUHODVFDXVDVHFRQyPLFDVTXHIDYRUHFHQODHPLJUDFLyQVHHQFXHQWUDQ
D/DYXHOWDDODDJULFXOWXUDWUDGLFLRQDOHQODVVRFLHGDGHVPRGHUQDV
E/DVPHMRUHVFRQGLFLRQHVGHYLGDHQODFLXGDG
F/DPD\RUGLVSRQLELOLGDGHFRQyPLFDGHORVHPLJUDQWHVHQVXV]RQDVGHRULJHQ
$FWXDOPHQWHHOQ~PHURDSUR[LPDGRGHLQPLJUDQWHVHQQXHVWURSDtVVHHOHYDD
D6HLVPLOORQHV\PHGLR
E'LH]PLOORQHV
F&LQFRPLOORQHV\PHGLR
(OVHFWRUGHDFWLYLGDGTXHRFXSDQSUHGRPLQDQWHPHQWHORVLQPLJUDQWHVGHOD
8QLyQ(XURSHDHQ(VSDxDHVHOVLJXLHQWH
D+RVWHOHUtDFRQVWUXFFLyQ\FRPHUFLR
E6HFWRUILQDQFLHURFRPHUFLDO\SURIHVLRQDOHVOLEHUDOHV
F3UiFWLFDPHQWHQRH[LVWHQLQPLJUDQWHVGHOD8QLyQ(XURSHDVDOYRORVMXELODGRV
(OUHJUHVRPDVLYRGHHPLJUDQWHVHVSDxROHVDQXHVWURSDtVVHSURGXMRGX
UDQWHHOVLJORSDVDGR
D'HVSXpVGHOD*XHUUD&LYLO
E7UDVILQDOL]DUOD,,*XHUUD0XQGLDO
F7UDVODFULVLVGHOSHWUyOHRGH
(QWUHORVHIHFWRVGHODVPLJUDFLRQHVH[WHULRUHVUHVSHFWRDORVSDtVHVGH
DFRJLGDGHHPLJUDQWHVVHVHxDOD
D/DHOHYDFLyQGHVDODULRV
E0tQLPRFRVWHGHSUHSDUDFLyQGHODPDQRGHREUD
F,QFUHPHQWRGHHQWUDGDGHGLYLVDV
(QWHQGHPRVSRUp[RGRUXUDO
D/DPLJUDFLyQGHODFLXGDGDOFDPSR
E0LJUDFLyQLQWHUQDFLRQDO
F(ODEDQGRQRGHODV]RQDVUXUDOHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVEURWHVGHUDFLVPR\[HQRIRELDGHODSREODFLyQTXHUHFLEHDXQJUDQQ~
PHURGHLQPLJUDQWHVVHGHEHQIXQGDPHQWDOPHQWH
D$OUHFHORTXHVXVFLWDHQWUHODSREODFLyQJUXSRVGHSHUVRQDVQRLQWHJUDGDV
E$TXHJHQHUDOPHQWHODSREODFLyQHFRQyPLFDPHQWHPiVSXGLHQWHWLHQHFDUDFWHUtV
WLFDVPRUDOHVLQIHULRUHV
F$TXHORVLQPLJUDQWHVVRQQHJDWLYRVSDUDHOGHVDUUROORGHOSDtVGHDFRJLGD
&RQORVDFXHUGRVELODWHUDOHVHQWUHSDtVHVGHRULJHQ\GHDFRJLGDGHLQPL
JUDQWHVVHWUDWDGH
D,QIRUPDUDGHFXDGDPHQWHDOLQPLJUDQWHVREUHVXGHVWLQR\WUDEDMR
E(OLPLQDUODVPDILDVTXHSHUMXGLFDQDORVHPLJUDQWHV
4XpOH\LQLFLDOUHJXODODLQPLJUDFLyQHQ(VSDxDHQODDFWXDOLGDG"
D/D/H\2UJiQLFDGHGHGLFLHPEUH
E/D/H\2UJiQLFDGHGHPDU]R
F/D/H\GHGHDEULO
(QUHODFLyQFRQODLQPLJUDFLyQHQ(VSDxDTXpLQPLJUDQWHVSUHVHQWDQPH
GLDVGHHGDGPiVDOWD"
D/RVSURFHGHQWHVGH(FXDGRU
E/RVTXHSHUWHQHFHQDOEORTXHGHSDtVHVGHO(VWH
F/RVLQPLJUDQWHVFRPXQLWDULRVTXHYLHQHQFRQPRWLYRVGHRFLR
/RVDFXHUGRVELODWHUDOHVTXH(VSDxDWLHQHVXVFULWRVRYD\DDVXVFULELUFRQ
SDtVHVGHGRQGHSURFHGHQPD\RULWDULDPHQWHORVLQPLJUDQWHVWLHQHQFRPREDVH
D*DUDQWL]DUORVGHUHFKRV\FRQGLFLRQHVODERUDOHVGHORVWUDEDMDGRUHVH[WUDQMHURV
E$\XGDDOUHWRUQRYROXQWDULRGHLQPLJUDQWHV
/DpSRFDGHODVJUDQGHVPLJUDFLRQHVVHFRQFUHWDHQODVIHFKDVVLJXLHQWHV
D'HVGHOD6HJXQGD*XHUUD0XQGLDOKDVWDORVDxRVVHVHQWDGHOVLJORSDVDGR
E'HVGHILQDOHVGHOVLJOR;;DODDFWXDOLGDG
F'HVGHHOVLJOR;,;KDVWDORVDxRVWUHLQWDGHOVLJORSDVDGR
/DpSRFDFRQRFLGDFRPRGHODVJUDQGHVPLJUDFLRQHVDOFRQWUDULRTXHHQOD
DFWXDOODVPLJUDFLRQHVORIXHURQPD\RULWDULDPHQWHD
D(XURSD
E$PpULFD
F([FOXVLYDPHQWHDORV((88

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QWUHODVPHGLGDVDGHFXDGDVSDUDIRPHQWDUODLQWHJUDFLyQGHORVLQPLJUDQ
WHVILJXUD
D&UHDUJXHWRVDGHFXDGRVSDUDHYLWDUURFHVFRQODSREODFLyQDXWyFWRQD
E(YLWDUTXHHOLQPLJUDQWHSXHGDWUDHUDPiVPLHPEURVIDPLOLDUHVORTXHDJUDYDUtDOD
VLWXDFLyQ
F&RPSDUWLUORVHVSDFLRV\XVRVXUEDQRVFRQODSREODFLyQDXWyFWRQD
(VFLHUWRTXHODLQPLJUDFLyQHQ(VSDxDKDWUDtGRXQDVHULHGHSUREOHPDV
FDXVDGRVSRUODFRQYLYHQFLDHLQWHJUDFLyQDVtFRPRXQDVHULHGHEHQHILFLRV6HxDOH
XQRGHpVWRV~OWLPRV
D/RVIRQGRVGHOD6HJXULGDG6RFLDOVHKDQYLVWRLQFUHPHQWDGRVSRUHODXPHQWRGH
DOWDVGHHVWRVLQPLJUDQWHV
E/DDXVHQFLDGHHQIHUPHGDGHVHQHVWRVFROHFWLYRVQRKDSXHVWRHQULHVJRDOUHVWR
GHODSREODFLyQ
F/DEDMDQDWDOLGDGGHORVLQPLJUDQWHVQRKDVXSXHVWRJDVWRVVDQLWDULRVLQIDQWLOHV
&RPR QRYHGDG HQ HO SHUILO PHGLR GHO LQPLJUDQWH DFWXDO VH GHWHFWD XQD
WHQGHQFLDD
D,QFRUSRUDUVHODPXMHUDHVWRVIOXMRVPLJUDWRULRV
E8QHQYHMHFLPLHQWRPHGLRGHOLQPLJUDQWH
F/DOOHJDGDGHPDQRGHREUDPiVFXDOLILFDGD
/RVJUDQGHVIOXMRVPLJUDWRULRVDFWXDOHVWLHQHQFRPROXJDUHVGHGHVWLQR
D$PpULFDWDQWRDO1RUWHFRPRDO6XU
E1RH[LVWHQIRFRVHVSHFtILFRVGHDWHQFLyQPLJUDWRULD
F(XURSDIXQGDPHQWDOPHQWHDVXVSDtVHVFRQPD\RUSURJUHVR
/DSURFHGHQFLDPD\RUtDGHLQPLJUDQWHVHQQXHVWURSDtVSRUSDtVHVGHRUL
JHQHVODVLJXLHQWH
D5XPDQtD0DUUXHFRV(FXDGRU\HO5HLQR8QLGR
E(O5HLQR8QLGR0DUUXHFRV(FXDGRU\5XPDQtD
F0DUUXHFRV5XPDQtD(FXDGRU\HO5HLQR8QLGR
(Q UHODFLyQ FRQ ODV PLJUDFLRQHV XQD WHRUtD VREUH HVWH IHQyPHQR VH
EDVDQHQ
D/DVPLJUDFLRQHVLPSXOVDGDV\IRU]DGDV
E/DVIXHU]DVGHH[SXOVLyQDWUDFFLyQ
F%UDLQ'UDLQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OGHVSOD]DPLHQWRDRWURSDtVGHXQDPDVDSREODFLRQDOFRQODLQWHQFLyQGH
UHJUHVDUDORULJHQWUDQVFXUULGRVYDULRVDxRVHV
D8QDPLJUDFLyQH[WHULRUGHILQLWLYD
Ee[RGRUXUDO
F0LJUDFLyQSROLDQXDO
&RPLHQ]D(VSDxDDVHUSDtVUHFHSWRUGHHPLJUDFLyQ
D'XUDQWHORVDxRVWUHLQWD
E&RQVXDGKHVLyQDOD&RPXQLGDG(XURSHD
F$OILQDOL]DUOD,,*XHUUD0XQGLDO
&RQVHFXHQFLDGHODHPLJUDFLyQHQHOSDtVGHRULJHQHV
D0D\RUHVWDELOLGDGVRFLDO
E7UDEDMRPiVUHPXQHUDGR
F0D\RUtQGLFHGHQDWDOLGDG
3RUEORTXHVFRQWLQHQWDOHVHORUGHQGHSURFHGHQFLDGHQXHVWURVLQPLJUDQWHV
HVHOVLJXLHQWH
D/DWLQRDPpULFD(XURSD\IULFD
E$VLD/DWLQRDPpULFD\IULFD
F(XURSD/DWLQRDPpULFD\IULFD
6HHQWLHQGHFRPRODIyUPXODGHFRQYLYHQFLDHQXQPLVPRHVSDFLRVRFLDOGH
SHUVRQDVLGHQWLILFDGDVFRQFXOWXUDVYDULDGDV
D0XOWLFXOWXUDOLVPR
E,QWHJULVPR
F$VLPLODFLyQ
(OSDtVGH(XURSDFRQPD\RULQPLJUDFLyQSRUFHQWXDOHV
D$OHPDQLD
E)UDQFLD
F(VSDxD
&XiQWRWLHPSRGHSHUPDQHQFLDPi[LPRDXWRUL]DXQD5HVLGHQFLD7HPSRUDO
DXQH[WUDQMHURHQ(VSDxD"
D+DVWDWUHVPHVHVSURUURJDEOHVRWURVWUHV
E+DVWDGLH]DxRV
F+DVWDFLQFRDxRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVUHJLVWURVDGPLQLVWUDWLYRVHQORVTXHTXHGDQLQVFULWRVORVYHFLQRVGHXQ
PXQLFLSLR\FX\DJHVWLyQFRUUHVSRQGHDO$\XQWDPLHQWRVHGHQRPLQDQ
D&HQVRGH3REODFLyQ
E3DGURQHV0XQLFLSDOHV
F(QFXHVWDVGH3REODFLyQ
4XpSDtVGH$PpULFDDSRUWDPD\RUQ~PHURGHHPLJUDQWHVFRQGHVWLQRD
(VSDxD"
D(FXDGRU
E&RORPELD
F$UJHQWLQD
6LQRVUHIHULPRVDOUHVXOWDGRILQDOGHOQ~PHURGHLQPLJUDQWHV\GHHPLJUDQWHV
GHXQGHWHUPLQDGRSDtVHQUHODFLyQFRQVXSREODFLyQKDEODPRVGHOVLJXLHQWHGDWR
D&UHFLPLHQWRYHJHWDWLYR
E7DVDQHWDGHPLJUDFLyQ
F&UHFLPLHQWRHVSDFLDO
(O GHVSOD]DPLHQWR GH WUDEDMDGRUHV HQWUH $QGRUUD \ (VSDxD VH FRQVLGHUD
PLJUDFLyQ
D3HQGXODU
E([WHULRU
(OGHUHFKRDODPLJUDFLyQHVWiVHxDODGRHQOD'HFODUDFLyQ8QLYHUVDOGH'H
UHFKRV+XPDQRV
D(QVXDUWtFXOR
E(QVXDUWtFXOR
F1RHVXQGHUHFKRUHFRQRFLGRHQHVWD'HFODUDFLyQ
$FWXDOPHQWHODV/H\HVGH5DYHVWHLQVREUHODVPLJUDFLRQHVHVWiQVXIULHQGR
XQDVHULHGHPRGLILFDFLRQHVHQWUHODVTXHSRGHPRVVHxDODU
D/DPHGLDGHORVHPLJUDQWHVHVPX\HOHYDGD
E6HKDLQYHUWLGRODUHODFLyQHQWUHPD\RUGLVWDQFLDDOSDtVDOTXHVHTXLHUHHPLJUDU\
PHQRUQ~PHURGHHPLJUDQWHV
F+D\XQDFODUDIHPLQL]DFLyQHQODVPLJUDFLRQHVDFWXDOHV
&RQODGLIHUHQFLDHQWUHODVWDVDVGHLQPLJUDFLyQ\ODVGHHPLJUDFLyQGHXQ
PLVPRSDtVREWHQHPRV
D(OVDOGRPLJUDWRULR
E/DWDVDQHWDGHPLJUDFLyQ
F(OFUHFLPLHQWRUHDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QODWHRUtD3XVK3XOOODWHQVLyQPLJUDWRULDVHSURGXFHSRU
D/DVJDQDVGHHPLJUDU\ODVGLILFXOWDGHVTXHRSRQHQODVDXWRULGDGHVGHOSDtVGHRULJHQ
E(OH[FHVLYRQ~PHURGHHPLJUDQWHV\ODVGLILFXOWDGHVSDUDHQWUDUHQHOSDtVGHOOHJDGD
F /DV FDXVDV TXH HPSXMDQ D HPLJUDU \ OD DWUDFFLyQ KDFLD XQ GHWHUPLQDGR OXJDU GH
HPLJUDFLyQ
(QODLQPLJUDFLyQTXpWpUPLQRGHILQHDXQDSHUVRQDTXHKDVDOLGRGHVX
SDtVSRUPRWLYRVGHSHUVHFXFLyQSROtWLFDRUHOLJLRVD"
D'HVSOD]DGR
E$VLODGRRUHIXJLDGR
(OVHFWRUGHDFWLYLGDGGHODFRQVWUXFFLyQVHKDQXWULGRHQORV~OWLPRVDxRV
HQJUDQSDUWHGHLQPLJUDQWHVSURFHGHQWHVGH
D3DtVHVGHO(VWHGH(XURSD
E0DUUXHFRV
F/DWLQRDPpULFD
(QODpSRFDGHODVJUDQGHVPLJUDFLRQHVD$PpULFDILQDOGHOVLJOR;,;\SULQ
FLSLRVGHO;;FXiOHUDODSULQFLSDO]RQDGHVDOLGDGHHPLJUDQWHV
D/DVPLJUDFLRQHVWDOFRPRDKRUDHVWDEDQPX\JOREDOL]DGDV
E(XURSDIXHHOFRQWLQHQWHTXHPiVHPLJUDQWHVDSRUWy
F(O6XGHVWH$VLiWLFR\IULFDIXQGDPHQWDOPHQWH
/D DXWRUL]DFLyQ GH UHVLGHQFLD SDUD HQ H[WUDQMHUR FRQ WUDEDMR SRU FXHQWD
SURSLDGXUDQWHHOSULPHUDxRGHUHVLGHQFLDHV
D'HWLSR%
E'HWLSR&
F'HWLSR'
8QDGHODVFRQVHFXHQFLDVPX\SRVLWLYDVTXHKDWUDtGRODOOHJDGDGHLQPL
JUDQWHVDQXHVWURSDtVHV
D5HMXYHQHFLPLHQWRGHODSREODFLyQ
E,QFUHPHQWRGHFRWL]DQWHVDODVHJXULGDGVRFLDO
F/DVGRVDQWHULRUHVVRQFLHUWDV
(QWUHODVPHGLGDVTXHSXHGHQSURPRFLRQDUORV$\XQWDPLHQWRVHQDUDVGHFRQ
VHJXLUXQDPD\RULQWHJUDFLyQGHORVLQPLJUDQWHVHQVXVOXJDUHVGHUHVLGHQFLDVILJXUDQ
D&RQWURODUTXHHOUHJLVWURGHHVWRVLQPLJUDQWHVVHDULJXURVRSDUDQRLQFUHPHQWDUHQ
H[FHVRHO3DGUyQGHOPXQLFLSLR
E3URSRUFLRQDUYLYLHQGDVEDUDWDVHLQWHJUDGDVHQHOFROHFWLYRXUEDQR\VXLQVFULSFLyQ
HQORVSDGURQHVPXQLFLSDOHV
F$LVODUDORVLQPLJUDQWHVHQ]RQDVH[FOXVLYDVSDUDpVWRVDILQGHTXHQRKD\DHQIUHQ
WDPLHQWRVFRQODSREODFLyQDXWyFWRQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DJHQHUDFLyQGHFRKHVLyQVRFLDO\FRQYLYHQFLDLQWHUFXOWXUDOPHGLDQWHSUR
FHVRVGHDGDSWDFLyQPXWXDHQWUHGRVVXMHWRVMXUtGLFD\FXOWXUDOPHQWHGLIHUHQFLD
GRVPHGLDQWHORVFXDOHVODVSHUVRQDVGHRULJHQH[WUDQMHURVHLQFRUSRUDQHQLJXDO
GDGGHGHUHFKRVHVXQDEXHQDGHILQLFLyQGH
D$OWUXLVPR
E6ROLGDULGDG
F,QWHJUDFLyQ
/DIyUPXODGHLQWHJUDFLyQGHODSREODFLyQLQPLJUDQWHFRQVLVWHQWHHQODIRU
PDFLyQGHXQDFXOWXUDPH]FODGHODVGLVWLQWDVDSRUWDFLRQHVGHORVJUXSRVLQPLJUDQ
WHVTXHYDQFRQIRUPDQGRXQDQXHYDVRFLHGDGHVHOFRQFHSWRGH
D0XOWLFXOWXUDOLGDG
E0HOWLQJ3RW
F$VLPLODFLyQ
4XpIyUPXODGHLQWHJUDFLyQFUHHTXHVHXWLOL]yHQODIRUPDFLyQGHORV(VWD
GRQDFLRQDOHVHXURSHRVHQORVTXHVHH[LJtDDWRGDODSREODFLyQTXHUHQXQFLDVHD
VXVSURSLDVFUHHQFLDVUHOLJLRVDVSDUDFRQVHJXLUXQDXQDQLPLGDGFXOWXUDOHQHOSDtV
DOREMHWRGHGDUOHODFRKHVLyQQHFHVDULDHQHVHPRPHQWR"
D/DPXOWLFXOWXUDOLGDG
E/D$VLPLODFLyQ
F6HJ~QHOSDtVIXHXQDIyUPXODXRWUD
/DH[LVWHQFLDGHXQSDtVFX\DSREODFLyQQRVHDWRWDOPHQWHKRPRJpQHDHQ
FXDQWRDVXVGLIHUHQWHVFXOWXUDV\SUiFWLFDVFXOWXUDOHVSHURHQHOTXHHOORQRHV
PRWLYRSDUDTXHWRGRVVXVFLXGDGDQRVSXHGDQDFFHGHUHQLJXDOGDGGHFRQGLFLRQHV
DORVEHQHILFLRVVRFLDOHVHVXQHMHPSORGHOPRGHORGHLQWHJUDFLyQGHQRPLQDGR
D0XOWLFXOWXUDOLGDG
E$VLPLODFLyQ
F0HOWLQJ3RW
(O SURFHVR VRFLRFXOWXUDO EDVDGR HQ OD LQWHUGHSHQGHQFLD OD FRQIURQWDFLyQ
HOLQWHUFDPELR\ODLJXDOGDGHQHOTXHORVLQPLJUDQWHVSDUWLFLSDQDFWLYDPHQWHGHOD
YLGDHFRQyPLFDVRFLDO\FXOWXUDOGHOSDtVGHDFRJLGDVHGHQRPLQDJHQpULFDPHQWH
D$VLPLODFLyQ
E0XOWLFXOWXUDOLGDG
F,QWHJUDFLyQ
8QDGHODVDVHYHUDFLRQHVFLWDGDVDFRQWLQXDFLyQHVIDOVD6HxiOHOD
D/DHPLJUDFLyQKDFLDODVFLXGDGHVVXHOHVHUGHSHUVRQDVPD\RUHVGHDxRV
E(Op[RGRUXUDOVXSRQHXQFDPELRSURIHVLRQDOGHDJULFXOWRUHVDDFWLYLGDGHVLQGXVWULDOHV
F(Op[RGRUXUDOVXSRQHXQPRYLPLHQWRHQXQVRORVHQWLGRGHODV]RQDVUXUDOHVKDFLD
ODFLXGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOGHORVVLJXLHQWHVHQXQFLDGRVQRSXHGHVHUFRQVLGHUDGRXQDFRQVH
FXHQFLDVRFLDOGHODPLJUDFLyQ"
D(OiUHDUHFHSWRUDDXPHQWDVXSREODFLyQ
E(OiUHDGRQDQWHH[SHULPHQWDSpUGLGDGHSREODFLyQ
F(OiUHDGRQDQWHDXPHQWDVXQLYHOGHUHSURGXFFLyQ
6LVHWUDWDGHORJUDUODFRH[LVWHQFLDSDFtILFDGHXQDKHWHURJHQHLGDGFXO
WXUDOEDMRODDVXQFLyQGHTXHWDOKHWHURJHQHLGDGHVEHQHILFLRVDSDUDODVRFLHGDG
JHQHUDOKDEODPRVGHOVLJXLHQWHPRGHORGHLQWHJUDFLyQ
D0XOWLFXOWXUDOLGDG
E0HOWLQJSRW
F$VLPLODFLyQ
'HVSXpV GH OD ,, *XHUUD PXQGLDO DOJXQRV SDtVHV HXURSHRV FRPLHQ]DQ D
DEULUVXVSXHUWDVDODLQPLJUDFLyQGHELGRSULQFLSDOPHQWHD
D(OSURFHVRGHGHVFRORQL]DFLyQ
E1HFHVLGDGGHPDQRGHREUDSDUDODUHFRQVWUXFFLyQGHOSDtV
/DPD\RUtDGHORVSDtVHVGH(XURSDGHO(VWHFRPLHQ]DQDHPLJUDUKDFLD
SDtVHVGH(XURSD2FFLGHQWDODSDUWLUGH
E/DGHVFRORQL]DFLyQSURGXFLGDHQODGpFDGDGHORVDxRVVHVHQWDGHOSDVDGRVLJOR
F/DILQDOL]DFLyQGHOD,,*XHUUD0XQGLDO
'HVSXpV GH OD ,, *XHUUD 0XQGLDO ORV HPLJUDQWHV HVSDxROHV HVFRJLHURQ
FRPROXJDUGHGHVWLQR
D$XVWUDOLD
E&DQDGi\&HQWURDPpULFD
F$UJHQWLQD\RWURVSDtVHVODWLQRDPHULFDQRV
&XiO IXH HO GHVWLQR GH OD PD\RUtD GH HPLJUDQWHV HVSDxROHV GXUDQWH OD
GpFDGDGHORVDxRVVHVHQWDGHOVLJORSDVDGR"
D$UJHQWLQD\RWURVSDtVHVODWLQRDPHULFDQRV
E$OHPDQLD\RWURVSDtVHVHXURSHRV
F(VWDGRV8QLGRV\$XVWUDOLD
(QTXp]RQDVGHQXHVWURSDtVVHDVLHQWDQODPD\RUtDGHORVLQPLJUDQWHV
SURFHGHQWHVGHOD8QLyQ(XURSHD"
D0D\RULWDULDPHQWHHQ0DGULG\%DUFHORQD
E(QODVFLXGDGHVGHODVFRVWDVGH/HYDQWH\HOVXU
F(VWiQGLVWULEXLGRVPX\KRPRJpQHDPHQWHSRUWRGDODJHRJUDItDHVSDxROD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3RU]RQDVGHRULJHQORVLQPLJUDQWHVTXHKDQOOHJDGRD(VSDxDVHGHGLFDQ
PD\RULWDULDPHQWHDXQGHWHUPLQDGRVHFWRUGHDFWLYLGDG(QHOFDVRGHORVSURFH
GHQWHVGH0DUUXHFRVDTXpVHFWRUGHDFWLYLGDGVHGHGLFDQ"
D$OFRPHUFLR\ORVVHUYLFLRV
E$ODFRQVWUXFFLyQ\ODKRVWHOHUtD
F$ODDJULFXOWXUD
(QORV~OWLPRVFLQFRDxRV(VSDxDSUHVHQWDGDWRVGHFUHFLPLHQWRGHPRJUi
ILFRFRQVLGHUDEOHGHELGRIXQGDPHQWDOPHQWH
D$ODGLVPLQXFLyQGHODVWDVDVGHPRUWDQGDGLQIDQWLO
E$OLQFUHPHQWRGHODVWDVDVGHQDWDOLGDG
F$OFUHFLPLHQWRHVSDFLDO
4XpYHQWDMDUHSUHVHQWDSDUDXQSDtVHOTXHDQWHODQHFHVLGDGGHFUHFL
PLHQWRSREODFLRQDOSDUDKDFHUIUHQWHDXQLQFUHPHQWRGHVXGHVDUUROORHFRQyPLFR
RSWHSRUODVROXFLyQGHSRWHQFLDUVXLQPLJUDFLyQ"
D1LQJXQDDOFRQWUDULRWRGRVVRQLQFRQYHQLHQWHV
E4XHHOFRVWHGHSUHSDUDFLyQGHHVDPDQRGHREUDKDVLGRQXOR
F4XHHVXQDPDQRGHREUDVLQGHUHFKRVVLQGLFDOHV\VRFLDOHVDOJXQRV
'HTXpSURFHGHQFLDH[LVWHHQ(VSDxDXQDSURSRUFLyQPX\LQIHULRUGHPX
MHUHVUHVSHFWRDORVKRPEUHVLQPLJUDQWHV"
D'H$VLD\GHIULFD
E'H/DWLQRDPpULFD
F/DSURSRUFLyQGHPXMHUHV\KRPEUHVGHWRGDVODVSURFHGHQFLDVHVVLPLODU
8QDFRQVHFXHQFLDVRFLRFXOWXUDOLPSRUWDQWHTXHVHHVWiSURGXFLHQGRSRUHO
LQFUHPHQWRGHLQPLJUDFLyQHQORV~OWLPRVDxRVHQ(VSDxDHV
D4XHODKHWHURJHQHLGDGFXOWXUDOFDUDFWHUtVWLFDGH(VSDxDFRPLHQ]DDGHVDSDUHFHU
E4XHFRPLHQ]DDGHVDSDUHFHUODKRPRJHQHLGDGUDFLDOFXOWXUDOOLQJtVWLFD\UHOLJLRVD
F4XHFRQODOOHJDGDGHSHUVRQDVGHJUDQGLYHUVLGDGOLQJtVWLFDFXOWXUDO\UHOLJLRVDVH
KDLQFUHPHQWDGRPDVLYDPHQWHHOUHFKD]RDORVH[WUDQMHURV
/D WDVD GH PLJUDFLyQ TXH TXHGD \ TXH HV OD UHVXOWDQWH GH OD GLIHUHQFLD
HQWUHODWDVDGHHPLJUDFLyQ\GHLQPLJUDFLyQVHGHQRPLQD
D6DOGRPLJUDWRULR
E7DVDGHPLJUDFLyQQHWD
FQGLFHGHHQWUDGDDQXDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HVGHODGpFDGDGHORVDxRVGHOVLJORSDVDGR(XURSDHQVXFRQMXQWR
HPSLH]DDUHFLELUJUDQGHVROHDGDVGHLQPLJUDQWHVFDXVDTXHFRLQFLGHFRQXQKH
FKRKLVWyULFR
D(OSURFHVRGHGHVFRORQL]DFLyQGHPXFKRVSDtVHVDIULFDQRV
E/DFDtGDGHODHFRQRPtDFRPXQLVWDGHOD8566
F/DFUHDFLyQGHOD&RPXQLGDG(FRQyPLFD(XURSHD
/D JUDQ HPLJUDFLyQ HXURSHD GHELGD IXQGDPHQWDOPHQWH D p[RGR UXUDO VH
SURGXMRHQ$PpULFD\$XVWUDOLD6HxDOHODIHFKDDSUR[LPDGDHQTXHpVWDVHSURGXMR
D
E
F
&XDQGRVHSLHUGHODLGHQWLGDGFXOWXUDOSRUSDUWHGHXQJUXSRLQPLJUDQWHDO
HQWUDUHQFRQWDFWRFRQXQDVRFLHGDGRFXOWXUDGRPLQDQWHKDEODPRVGH
D0XOWLFXOWXUDOLGDG
E(QFXOWXUDFLyQ
F$VLPLODFLyQ
6LODSLUiPLGHSREODFLyQGHXQSDtVHVGHWLSRUHJUHVLYRQRVLQGLFDTXH
GLFKRSDtV
D(VWiHQYHMHFLGR
E(VPX\MRYHQ
F(VWiPX\VXEGHVDUUROODGR
(OVDOGRPLJUDWRULRUHODWLYRGHXQSDtVGHWHUPLQDGRGXUDQWHHOSHULRGRGH
XQDxRHV
D/DGLIHUHQFLDHQWUHHOQ~PHURGHLQPLJUDQWHV\HOGHHPLJUDQWHV
E/DGLIHUHQFLDHQWUHLQPLJUDQWHV\HPLJUDQWHVHQUHODFLyQFRQHOFUHFLPLHQWRQDWXUDO
F/DWDVDGHLQPLJUDFLyQPHQRVODWDVDGHHPLJUDFLyQ
/DVSHUVRQDVTXHDEDQGRQDQVXVSDtVHVGHIRUPDYROXQWDULDSHURDQWHHO
WHPRUGHVHUSHUVHJXLGRVRFDVWLJDGRVSRUPRWLYRVUHOLJLRVRVSROtWLFRVVH[XDOHV
SHUWHQHQFLDDHWQLDRJUXSRVRFLDOHWFUHFLEHQHQJHQHUDOHOQRPEUHGH
D'HSRUWDGRV
E'HVSOD]DGRV
F5HIXJLDGRV
(OWpUPLQR6XU1RUWHVHDSOLFDJHQpULFDPHQWHDXQIOXMRPLJUDWRULRHVSH
FtILFR\FX\DFDXVDIXQGDPHQWDOHV
D(FRQyPLFD
E'LVSDULGDGFXOWXUDO
F3HUVHFXFLRQHVSROtWLFDVRUHOLJLRVDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpLQVWLWXFLyQGHODV1DFLRQHV8QLGDVVHFUHyFRQODILQDOLGDGGHSURWH
JHUDORVUHIXJLDGRV"
D(O$OWR&RPLVLRQDGRSDUDODSURWHFFLyQGHORV'HUHFKRV+XPDQRV
E(&262&
F$&185
6LVHKDEODGHSpUGLGDGHSREODFLyQMXYHQLO\GHGLVPLQXFLyQGHODWHQVLyQ
GHPRJUiILFDQRVHVWDPRVUHILULHQGRD
D=RQDVPX\GHVDUUROODGDVHFRQyPLFDPHQWH
E3DtVHVGHVDOLGDGHHPLJUDQWHV
F=RQDVGHDFRJLGDGHHPLJUDQWHV
32/,&$1$&,21$/(6&$/$%6,&$

6ROXFLyQDOWHVWQ
E3HQGXODUHV
E5HVWDQGRHOFUHFLPLHQWRQDWXUDOGHOFUHFLPLHQWRUHDO
E'LIHUHQFLDVHQWUHORVGHVDUUROORVGHODVHFRQRPtDV
D6RFLDOHVSDFLDO\WHPSRUDO
F7DVDGHHPLJUDFLyQ
D+DFLDXQDPD\RUIHPLQL]DFLyQ
E5HIXJLDGR
F)XHU]DVTXHHPSXMDQDVDOLUGHXQOXJDU\DWUDHQDRWURGHWHUPLQDGR
E5HUXUDOL]DFLyQ
F$VLPLODFLyQ
D0XOWLFXOWXUDOLVPR
E7UHVPHVHV
F,QWHJUDFLyQ
E(OLPSRUWDQWHFUHFLPLHQWRGHPRJUiILFRGHORVSDtVHVGHO6XUTXHFRQWUDVWDFRQ
ODEDMDQDWDOLGDGGHO1RUWH
F(OQ~PHURGHKRPEUHV\PXMHUHVHPLJUDQWHVHVHOPLVPR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E(QWUH\
D$OHPDQLD
D3HQGXODUHV
F0DQRGHREUDEDUDWD
F7UDQVFXUULGRHOSHULRGRGH5HVLGHQFLD7HPSRUDO
D,QLFLDO\UHQRYDGD
F0LJUDFLyQLQWHULRU
F(FRQyPLFD
D)RPHQWDGD
De[RGRUXUDO
E(FRQyPLFDV
F%HQHILFLRVRSDUDORVGRVSDtVHV
D6DOGRPLJUDWRULR
D/DVUHODFLRQHVODERUDOHVQRUHJODGDV
F'H,EHURDPpULFD
D)XHU]DVGHDWUDFFLyQ
E/XJR
D/RVSDtVHVUHFHSWRUHVQRSXVLHURQREVWiFXORVDODOOHJDGDGHLQPLJUDQWHV
F(QXQSULQFLSLRDPD\RUOOHJDGDGHUHPHVDVGHORVHPLJUDQWHVPD\RUHIHFWRGH
OODPDGDDODHPLJUDFLyQ
F(YLWDUTXHVHFRPSDUWDQHVSDFLRV\XVRVXUEDQRVGHORVLQPLJUDQWHVFRQHOUHVWR
GHODSREODFLyQ
E(OSDtVTXHPiVLQPLJUDQWHVDSRUWDHV5XPDQtD
E$XPHQWRGHODQDWDOLGDGHQOD]RQDGHGHVWLQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E$ODVUHPHVDVTXHLQJUHVDEDQHQQXHVWURSDtVQXHVWURVSURSLRVHPLJUDQWHV
F/DSREODFLyQGH(VSDxDHVWiHQYHMHFLGDPLHQWUDVTXHHODSRUWHLQPLJUDQWHWLHQ
GHDFRUUHJLUHVWDWHQGHQFLD
D'HVGHHODxR
F)XHU]DVGHH[SXOVLyQ\DWUDFFLyQTXHLQFOLQDQDODSREODFLyQDHPLJUDU
F=RQDRULJHQGHODHPLJUDFLyQ
F5DYHQVWHLQ
E7UDVODGRGHPHQWHVSULYLOHJLDGDVGHXQDVQDFLRQHVDRWUDV
D6HUMRYHQHQVXPD\RUtD
E0LJUDFLyQLQWHULRUHVWDFLRQDO
D(VSRVLWLYR
F(VSDxDWLHQHXQDSUHVLyQLQPLJUDQWHPX\LQIHULRUDOUHVWRGHSDtVHVHXURSHRV
D(Op[RGRUXUDO
D6DOGRPLJUDWRULRUHODWLYR
E$OUHGHGRUGHO
E/DVPHMRUHVFRQGLFLRQHVGHYLGDHQODFLXGDG
F&LQFRPLOORQHV\PHGLR
E6HFWRUILQDQFLHURFRPHUFLDO\SURIHVLRQDOHVOLEHUDOHV
F7UDVODFULVLVGHOSHWUyOHRGH
E0tQLPRFRVWHGHSUHSDUDFLyQGHODPDQRGHREUD
F(ODEDQGRQRGHODV]RQDVUXUDOHV
D$OUHFHORTXHVXVFLWDHQWUHODSREODFLyQJUXSRVGHSHUVRQDVQRLQWHJUDGDV
D/D/H\2UJiQLFDGHGHGLFLHPEUH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F/RVLQPLJUDQWHVFRPXQLWDULRVTXHYLHQHQFRQPRWLYRVGHRFLR
F'HVGHHOVLJOR;,;KDVWDORVDxRVWUHLQWDGHOVLJORSDVDGR
E$PpULFD
F&RPSDUWLUORVHVSDFLRV\XVRVXUEDQRVFRQODSREODFLyQDXWyFWRQD
D/RVIRQGRVGHOD6HJXULGDG6RFLDOVHKDQYLVWRLQFUHPHQWDGRVSRUHODXPHQWR
GHDOWDVGHHVWRVLQPLJUDQWHV
D,QFRUSRUDUVHODPXMHUDHVWRVIOXMRVPLJUDWRULRV
F(XURSDIXQGDPHQWDOPHQWHDVXVSDtVHVFRQPD\RUSURJUHVR
D5XPDQtD0DUUXHFRV(FXDGRU\HO5HLQR8QLGR
E/DVIXHU]DVGHH[SXOVLyQDWUDFFLyQ
F0LJUDFLyQSROLDQXDO
E&RQVXDGKHVLyQDOD&RPXQLGDG(XURSHD
D0D\RUHVWDELOLGDGVRFLDO
F(XURSD/DWLQRDPpULFD\IULFD
D0XOWLFXOWXUDOLVPR
F(VSDxD
F+DVWDFLQFRDxRV
E3DGURQHV0XQLFLSDOHV
D(FXDGRU
E7DVDQHWDGHPLJUDFLyQ
D(QVXDUWtFXOR
F+D\XQDFODUDIHPLQL]DFLyQHQODVPLJUDFLRQHVDFWXDOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E/DWDVDQHWDGHPLJUDFLyQ
F/DVFDXVDVTXHHPSXMDQDHPLJUDU\ODDWUDFFLyQKDFLDXQGHWHUPLQDGROXJDU
GHHPLJUDFLyQ
E$VLODGRRUHIXJLDGR
D3DtVHVGHO(VWHGH(XURSD
E(XURSDIXHHOFRQWLQHQWHTXHPiVHPLJUDQWHVDSRUWy
F'HWLSR'
E3URSRUFLRQDUYLYLHQGDVEDUDWDVHLQWHJUDGDVHQHOFROHFWLYRXUEDQR\VXLQVFULS
FLyQHQORVSDGURQHVPXQLFLSDOHV
F,QWHJUDFLyQ
E0HOWLQJ3RW

E/D$VLPLODFLyQ
D0XOWLFXOWXUDOLGDG
F,QWHJUDFLyQ
D/DHPLJUDFLyQKDFLDODVFLXGDGHVVXHOHVHUGHSHUVRQDVPD\RUHVGHDxRV
F(OiUHDGRQDQWHDXPHQWDVXQLYHOGHUHSURGXFFLyQ
D0XOWLFXOWXUDOLGDG
F$UJHQWLQD\RWURVSDtVHVODWLQRDPHULFDQRV
E$OHPDQLD\RWURVSDtVHVHXURSHRV
E(QODVFLXGDGHVGHODVFRVWDVGH/HYDQWH\HOVXU
F$ODDJULFXOWXUD
F$OFUHFLPLHQWRHVSDFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E4XHHOFRVWHGHSUHSDUDFLyQGHHVDPDQRGHREUDKDVLGRQXOR
D'H$VLD\GHIULFD
E 4XH FRPLHQ]D D GHVDSDUHFHU OD KRPRJHQHLGDG UDFLDO FXOWXUDO OLQJtVWLFD \
UHOLJLRVD
E7DVDGHPLJUDFLyQQHWD
E/DFDtGDGHODHFRQRPtDFRPXQLVWDGHOD8566
D
F$VLPLODFLyQ
D(VWiHQYHMHFLGR
F/DWDVDGHLQPLJUDFLyQPHQRVODWDVDGHHPLJUDFLyQ
F5HIXJLDGRV
D(FRQyPLFD
F$&185
E3DtVHVGHVDOLGDGHHPLJUDQWHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$&,8'$'&202)81'$0(172'(/&$0%,262&,$/32%/$&,1<
*5832662&,$/(66(&725(6'(/$32%/$&,10$5*,1$/
(/)(10(12'(/$85%$1,=$&,1/$62&,('$''(0$6$6
(/+20%5(<(/(48,/,%5,2(&2/*,&2/$&217$0,1$&,1
</$3527(&&,1'(/0(',2$0%,(17(
$TXLpQVHGHEHODWHRUtDGHODHFRORJtDXUEDQD"
D$OD(VFXHODGH&KLFDJR
E$OD(VFXHODGH%HUNHOH\
F$+RPHU+R\W
4XpHVODELRGHJUDGDELOLGDG"
D(VODXWLOL]DFLyQGHPHWDOHVSHVDGRVHQODFRQYHUVLyQGHPDWHULDRUJiQLFD
E(VODSURSLHGDGTXHWLHQHQDOJXQDVVXVWDQFLDVSDUDDSURYHFKDUODPDWHULDRUJiQLFD
HQODSURGXFFLyQGHHQHUJtDTXtPLFD
F(VODFDSDFLGDGGHDOJXQDVVXVWDQFLDVSDUDGHVFRPSRQHUVHHQPDWHULDRUJiQLFDSRU
PHGLRGHGHWHUPLQDGDVEDFWHULDV
4XpSDUiPHWURVKD\TXHWHQHUDODKRUDGHHYDOXDUORVXPEUDOHVSDUDH[SOR
WDUDGHFXDGDPHQWHXQUHFXUVRHQXQPHGLRHFROyJLFR"
D0i[LPR0tQLPR
E1HJDWLYR3RVLWLYR
F,QWHUPHGLR1HXWUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DFDWDORJDFLyQGHFLXGDGGHVGHHOSXQWRGHYLVWDGHODVDFWLYLGDGHVTXHHQ
XQQ~FOHRSREODFLRQDOVHUHDOL]DQSDUWHGHODEDVHGHTXHXQDGHODVWUHVDODVTXH
VHSXHGHQGHGLFDUVXVKDELWDQWHVVHDPLQRULWDULDRFDVLLQH[LVWHQWH$TXpDFWLYL
GDGQRVUHIHULPRV"
D$FWLYLGDGSULPDULD
E$FWLYLGDGVHFXQGDULD
F$FWLYLGDGWHUFLDULD
(OHTXLOLEULRHQWUHXQGHVDUUROORHFRQyPLFRDGHFXDGR\HOPDQWHQLPLHQWRGH
XQDFDOLGDGDFHSWDEOHHQORVHFRVLVWHPDVHVORTXHVHFRQRFHFRPR
D(TXLOLEULRHFROyJLFR
E'LQiPLFDGHORVHFRVLVWHPDV
F'HVDUUROORVRVWHQLEOH
(QODH[SORWDFLyQGHFXDOTXLHUUHFXUVRQDWXUDOHVPX\LPSRUWDQWHFRQRFHUFXiO
GHEHVHUODFDQWLGDGPtQLPDTXHGHEHTXHGDUHQODQDWXUDOH]DSDUDQRDJRWDUORSHUR
WDQLPSRUWDQWHFRPRHVWRSDUDHOPDQWHQLPLHQWRGHOHFRVLVWHPDHVLJXDOPHQWH
D4XpRWURVUHFXUVRVGHOPLVPRVHSXHGHQH[SORWDU
E&RQRFHUHOEHQHILFLRREWHQLGRSDUDYHUVLPHUHFHODSHQDDJRWDUOR
F6DEHUTXpIXQFLyQFXPSOHHVWHUHFXUVRHQHOHFRVLVWHPD
(QUHODFLyQFRQODIDXQDODFDWDORJDFLyQGHXQDHVSHFLHPiVSURWHFFLRQLVWD
SDUDVXVXEVLVWHQFLDHV
D6HQVLEOHDODDOWHUDFLyQGHVXKiELWDW
E(QSHOLJURGHH[WLQFLyQ
F'HLQWHUpVHVSHFLDO
4XpFRQVHFXHQFLDVHFROyJLFDVWLHQHXQDH[SORWDFLyQH[FHVLYDGHXQERVTXH
SDUDFRQVHJXLUPDGHUD"
D3HOLJURGHHURVLyQ\GHVHUWL]DFLyQGHHVD]RQD
E'LVPLQXFLyQGHODFDSDGHR]RQR
F(XWURIL]DFLyQ
(OHVWXGLRGHODVUHODFLRQHVHQWUHXQDHVSHFLHHQSDUWLFXODUFRQORVIDFWRUHV
ELyWLFRV\DELyWLFRVHV
D(FRORJtDXUEDQD
E$XWRHFRORJtD
F6LQHFRORJtD
8QD VXEDVWD XQ DFWR UHOLJLRVR PXOWLWXGLQDULR XQ SDUWLGR GH I~WERO SDUD
%OXPHUVRQ
D0DVDVDFWLYDV
E0XOWLWXGHVFRQYHQFLRQDOHV
F0DVDVH[SUHVLYDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OHVWXGLRGHODRSLQLyQS~EOLFDVHFRQRFHFRPR
D'HPRVFRSLD
E(VWDGtVWLFD
F'HPRJUDItD
6HJ~QOD/H\GH$OOSRUW\3RVWPDQHOUXPRUFLUFXODPHMRUDPHGLGDTXHHO
DVXQWRHVPiVLPSRUWDQWH\
D(OSHUVRQDMHWDPELpQORHV
E6HH[SDQGHDWUDYpVGHORVPDVVPHGLD
F/DQRWLFLDHVPiVDPELJXD
/DFLXGDGHVXQHQWRUQRGHOTXHVHSXHGHSUHVFLQGLUHVXQSULQFLSLRHVWD
EOHFLGRSRUODWHRUtDXUEDQDFRQRFLGDFRPR
D'LVSHUVLRQLVWD
E&RQFHQWUDFLRQLVWD
F,QWHJUDFLRQLVWD
(OIHQyPHQRGHODXUEDQL]DFLyQVXSRQHDGHPiVGHODSURSLDFRQFHQWUDFLyQ
XUEDQD
D(ODLVODPLHQWRSURJUHVLYRGHODV]RQDVUXUDOHV
E/DH[SDQVLyQGHODVSDXWDVXUEDQDVGHYLGDD]RQDVFHUFDQDV
F/DGHVSREODFLyQGHODVFLXGDGHV
8QDGHODVVLJXLHQWHVUHVSXHVWDVFRQWLHQHXQDFDUDFWHUtVWLFDDWULEXLEOHD
ORUXUDO
D*UDQFRQFHQWUDFLyQSREODFLRQDO
E,JXDOGDGFXOWXUDOGHWRGRVVXVFRPSRQHQWHV
F(FRQRPtDGHFRQVXPR
1RHVXQDFDUDFWHUtVWLFDGHOJUXSRSULPDULR
D9LYLUHQXQDGHWHUPLQDGD]RQD\WHQHUSURIHVLRQHVFRPXQHV
E6XSHUPDQHQFLDHQHOWLHPSR
F7HQHUHVWUXFWXUD
6LGHFLPRVTXHHQpOHVFRP~QHOKDFLQDPLHQWRODPDUJLQDOLGDGOLQGDQWHHQ
ODGHOLQFXHQFLDPD\RUHVtQGLFHVGHGHVHPSOHRHWFQRVHVWDPRVUHILULHQGRD
D&LXGDGHVGRUPLWRULR
E6HFWRUGHSREODFLyQPDUJLQDO
F8QEDUULRSHULIpULFR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpFDUDFWHUtVWLFDGHODVHQXPHUDGDVOHFRUUHVSRQGHDXQDFLXGDG"
D7LHQHPD\RUFRPSOHMLGDG
E([LVWHQPiVUHODFLRQHVSHUVRQDOHV\GLUHFWDV
F/DVUHODFLRQHVSULPDULDVVRQPD\RULWDULDV
(QWUHODVDJUXSDFLRQHVTXHFDUHFHQGHHVWUXFWXUDLQWHUQDVHHQFXHQWUDQODV
OODPDGDVDJUHJDFLRQHV6HxDOHXQDUHVSXHVWDTXHQRVHDXQDGHHOODV
D&DWHJRUtDVRFLDO
E0DVDV
F$JUHJDGRHVWDGtVWLFRV
&RQVHFXHQFLDGHOKDFLQDPLHQWRGHSREODFLyQHQVHFWRUHVVXEXUELDOHVH[LVWH
D0D\RUPRYLOLGDGVRFLDO
E0HMRUHVSRVLELOLGDGHVGHQLYHOGHYLGD
F0D\RUHVFRWDVGHOLFWLYDV
6HJ~QODFODVLILFDFLyQKHFKDSRU%OXPHUFXiOGHORVVLJXLHQWHVWLSRVGH
DJUXSDFLRQHVGHPDVDVQRSHUWHQHFHDGLFKDFODVLILFDFLyQ"
D0XOWLWXGFDXVDO
E0XOWLWXGFRQYHQFLRQDO
F0XOWLWXGGHSURWHVWD
8QRGHORVVLJXLHQWHVDXWRUHVHVFULELyVREUHODSpUGLGDGHODSHUVRQDOLGDG
GHOLQGLYLGXRHQXQDPDVD
D6PHOVHU
E$OOSRUW
F/H%RQ
&XiOHVODFDXVDIXQGDPHQWDOGHOFRQVXPRHQODVRFLHGDGGHPDVDV"
D$SDULHQFLDVRFLDO
E3URGXFFLyQPDVLYD
F1HFHVLGDG
6HJ~QVXFULWHULRFXiOHVODFDUDFWHUtVWLFDPiVQHJDWLYDGHODVRFLHGDGGH
PDVDV
D&DPELRDFHOHUDGR
E*HQHUDOL]DFLyQGHODLQIRUPDFLyQ
F0DOHVWDUVRFLDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q2FFLGHQWHODVRFLHGDGGHPDVDVVXUJLyDSDUWLUGH
D(OGHVFXEULPLHQWRGHODHQHUJtDDWyPLFD
E/D(GDG0HGLD
F/D5HYROXFLyQ,QGXVWULDO
3DUD/H%RQODDFWXDFLyQGHXQDPDVDGHIRUPDFRPSOHWDPHQWHGLVWLQWDD
FRPRORKDUtDFDGDLQWHJUDQWHGHODPLVPDVHGHEHD
D4XHHVWiFRQIRUPDGDSRUVHUHVVLQHVFU~SXORV
E4XHODPDVDSRVHHXQDOPDSURSLD
F4XHHQXQDPDVDORVILQHVMXVWLILFDQORVPHGLRV
/DGLIHUHQFLDIXQGDPHQWDOHQWUHXQJUXSRVRFLDO\XQDDJUXSDFLyQGHPDVD
HVWULEDHQ
D/DIDOWDGHHVWUXFWXUDVRFLDOHQODVHJXQGD
E/DDXVHQFLDGHUHODFLRQHVHVWUXFWXUDGDVHQHOSULPHUR
F4XHHOJUXSRVHHVWXGLDGHVGHXQSXQWRGHYLVWDVRFLROyJLFR\ODPDVDGHVGHXQ
SXQWRGHYLVWDKXPDQR
(OHIHFWRPiVQRWDEOHGHODVRFLHGDGGHPDVDVHV
D/DUXSWXUDGHODVIRUPDVGHYLGDWUDGLFLRQDOHV
E/DPD\RUDIHFWLYLGDGHQODVUHODFLRQHV
F/DPD\RUVHJXULGDGHQVtPLVPRVGHORVPLHPEURVGHODVRFLHGDG
6LXQDDJUXSDFLyQGHSHUVRQDVWLHQHHVWUXFWXUDVRFLDO
D6HFRQVLGHUDPDVDRUGHQDGD
E(VXQDFDUDFWHUtVWLFDGHODVDJUXSDFLRQHVSDVLYDV
F(VXQJUXSRVRFLDO
(OFRQVXPLVPRSURGXFH
D&UHDFLyQGHQXHYDVQHFHVLGDGHV
E(FRQRPtDGHVXEVLVWHQFLD
F(VWDELOLGDGHPRFLRQDO
$QWHODHVFDVDUHODFLyQSULPDULDTXHVHGDHQODVRFLHGDGPDVLILFDGDHO
LQGLYLGXR
D$PSOtDODVUHODFLRQHVIDPLOLDUHVFRQORVFRQVDQJXtQHRV
E+DIRUWDOHFLGRVXSHUVRQDOLGDGLQGLYLGXDO
F+DPRVWUDGRVXWHQGHQFLDDFUHDUJUXSRVRDVRFLDFLRQHVVXVWLWXWLYRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$ODFDSDFLGDGGHDGDSWDFLyQDVLWXDFLRQHVGLYHUVDVQXHYDVRFDPELDQWHV
HQXQPHGLRHQFRQVWDQWHWUDQVIRUPDFLyQVHKDOODPDGRSRUODGRFWULQDFLHQWtILFD
D0RYLOLGDGVRFLDO
E0RYLOLGDGSVtTXLFD
F'LVJUHJDFLyQSHUVRQDO
/RVFRPSRUWDPLHQWRVPDVLYRVWLHQHQDFWXDOPHQWHXQDH[SOLFDFLyQPiVUD
]RQDEOHTXHODGDGDSRU/H%RQ\VHEDVDQHQ
D/D/H\GHHPRFLRQDOLGDG
E/DH[LVWHQFLDGHXQDOPDSURSLDGHODPDVD
F)HQyPHQRVGHVXJHVWLyQHLPLWDFLyQ
&RPRFRQVHFXHQFLDGHODPDVLILFDFLyQHQHOFRQVXPR\HODFFHVRDJUDQ
FDQWLGDGGHELHQHV\VHUYLFLRVVHKDSURGXFLGR
D8QUHWUDLPLHQWRGHODHFRQRPtD
E8QFUHFLPLHQWRGHODVGHVLJXDOGDGHVVRFLDOHV
F8QDHOHYDFLyQJHQHUDOL]DGDGHOQLYHOGHYLGDGHODVPDVDV
(QODLQIRUPDFLyQVXPLQLVWUDGDSRUORVPHGLRVGHFRPXQLFDFLyQGHPDVDV
D3UHGRPLQDODHVWDQGDUL]DFLyQVREUHODLQGLYLGXDOL]DFLyQGHOPHQVDMH
E/DHVWpWLFDRODSURSLDFXOWXUDHVOD/H\GHOPHQVDMHWUDQVPLWLGR
F6HSDUWHGHXQDDXGLHQFLDPLQRULWDULD
(OFRQFHSWRGHHFRORJtDKXPDQDVHGHEHD
D1RUWRQ
E$OOSRUW
F3DUN\%XUJHVV
6L KDEODPRV GH XQD HWDSD GHPRJUiILFD FDUDFWHUL]DGD SRU DOWDV WDVDV GH
PRUWDQGDGLQIDQWLO\FRUWDHVSHUDQ]DPHGLDGHYLGDQRVUHIHULPRVD
D8QDGHPRJUDItDWUDGLFLRQDO
E8QDHWDSDGHWUDQVLFLyQ
F8QDVHJXQGDHWDSDGHWUDQVLFLyQ
3DUD5RJHU%URZQODVWXUEDVVHFODVLILFDQHQ
D9LROHQWDV\SDFtILFDV
E'LVSHUVDVRGLVJUHJDGDV\GLIXVDV
F$JUHVLYDVDGTXLVLWLYDVH[SUHVLYDV\HYDVLYDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVRFLHGDGGHPDVDV
D5HIXHU]DODXQLyQHQWUHORVLQGLYLGXRV
E3RWHQFLDHOWLSRGHIDPLOLDFRQVDQJXtQHD
F3RWHQFLDPiVODVVHPHMDQ]DVTXHODVGLIHUHQFLDVHQWUHORVLQGLYLGXRV
(QUHODFLyQFRQHOPHGLRDPELHQWHVHxDOHODUHVSXHVWDTXHOHSDUH]FDPiV
YHUGDGHUD
D(OLPSDFWRDPELHQWDOHVFDXVDGRH[FOXVLYDPHQWHSRUODFRQWDPLQDFLyQ
E/DFRQWDPLQDFLyQFDXVDSHUMXLFLRVDOD1DWXUDOH]DSHURQRWLHQHLPSDFWRDPELHQWDO
F1RVyORODFRQWDPLQDFLyQSURGXFHLPSDFWRDPELHQWDO
6HxDOH XQ PRWLYR YiOLGR TXH H[SOLTXH SRU TXp VH WRPDQ PHGLGDV SDUD OD
SURWHFFLyQGHO0HGLR$PELHQWH
D3DUDIDFLOLWDUODVDFWLYLGDGHVGHFD]D\SHVFDGHORVLQGLYLGXRVGHXQD]RQD
E3DUDHOPDQWHQLPLHQWRGHOHTXLOLEULRHFROyJLFR
F3DUDSRGHUH[SORWDUPiVLQWHQVDPHQWHHOPHGLR
&XDQGRORVH[SHUWRVKDEODQGHFRQWDPLQDFLyQVHUHILHUHQD
D&RQWDPLQDFLyQDWPRVIpULFDGHODJXD\GHOVXHOR
E&RQWDPLQDFLyQGHODJXDGHOVXHORUDGLDFWLYD\HXWURIL]DQWH
F&RQWDPLQDFLyQDF~VWLFDGHUHVLGXRV\GHODVDJXDVOLWRUDOHV
(OHIHFWRLQYHUQDGHURVHGHEHD
D4XHVHFUHDXQDFDSDGHDLUHIUtRSRUGHEDMRGHRWUDGHDLUHFDOLHQWH
E4XHHOGLy[LGRGHFDUERQRLQWHUYLHQHHYLWDQGRODVUDGLDFLRQHVXOWUDYLROHWD
F$XPHQWRGHOGLy[LGRGHFDUERQRTXHSURYRFDXQLQFUHPHQWRGHODWHPSHUDWXUD
(QHOSURFHVRGHLQWHUUHODFLyQFRQWLQXDHQTXHVHHQFXHQWUDQORVVHUHVYL
YRV\HOPHGLRItVLFR
D(OPHGLRItVLFRPRGLILFDDORVVHUHVYLYRV
E/RVVHUHVYLYRVPRGLILFDQDOPHGLRItVLFR
F$PERVVHPRGLILFDQPXWXDPHQWHDGDSWiQGRVH
(OHTXLOLEULRHQWUHODVSREODFLRQHVGHODVGLVWLQWDVHVSHFLHVVHPDQWLHQHD
WUDYpVGH
D/DDFWXDFLyQGHOKRPEUH
E/RVFDPELRVHVWDFLRQDOHV
F/DFDGHQDDOLPHQWDULD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DWUDQVIRUPDFLyQSURGXFLGDDORODUJRGHOWLHPSRHQORVVHUHVYLYRVTXHGD
OXJDUDODDSDULFLyQGHHVSHFLHVGLIHUHQWHVVHGHQRPLQD
D$GDSWDFLyQ
E/XFKDSRUODYLGD
F(YROXFLyQ
/DFDSDGHR]RQRHFROyJLFDPHQWHVLUYHSDUDDEVRUEHU
D/RVUD\RVFDWyGLFRV
E/RVUD\RVXOWUDYLROHWDVSURGXFLGRVSRUHOVRO
F/RVUD\RVJDPPD
6HxDOHFXiOGHODVVLJXLHQWHVQRSDUHFHXQDUD]yQMXVWLILFDGDSDUDSURWHJHU
ODVHVSHFLHV
D4XHHOQ~PHURGHLQGLYLGXRVGHDOJXQDVGHHOODVKD\DGHVFHQGLGRDODUPDQWHPHQWH
E4XHVXGHVDSDULFLyQSXHGDDOWHUDUHOHTXLOLEULRHFROyJLFR
F4XHKD\TXHSURWHJHUDODVHVSHFLHVPiVKHUPRVDV
8QRGHORVSULQFLSLRVIXQGDPHQWDOHVGHXQVLVWHPDHFROyJLFRHV
D/DFLUFXODFLyQPXOWLGLUHFFLRQDOGHODHQHUJtD
E/DFLUFXODFLyQFtFOLFDGHODHQHUJtD
F/DFLUFXODFLyQPXOWLGLUHFFLRQDO\FtFOLFDGHODHQHUJtD
(OHTXLOLEULRHFROyJLFRWLHQHFRPRFDUDFWHUtVWLFDIXQGDPHQWDO
D4XHHVXQHTXLOLEULRGHPRYLPLHQWRFRQWLQXR
E4XHXQDYH]HVWDEOHFLGRQRVHDOWHUDQXQFD
F4XHVyORHOKRPEUHFRQVXDFFLyQHVWDELOL]DGRUDHVFDSD]GHFRQVHJXLUOR
/DFRQWDPLQDFLyQDPELHQWDODSDUHFHFXDQGRHQODUHODFLyQDSRUWHGHVXV
WDQFLDVDEVRUFLyQGHVXVWDQFLDV
D/DDEVRUFLyQHVVXSHULRUDODSRUWH
E(ODSRUWHHVPD\RUTXHODDEVRUFLyQ
F/DDEVRUFLyQDQWHFHGHDODSRUWH
&XiOGHORVFULWHULRVLQGLFDGRVVHJXLGDPHQWHQRHVWHQLGRHQFXHQWDDOD
KRUDGHGHWHUPLQDUTXpHVSHFLHDQLPDOKDGHVHUSURWHJLGD"
D3DSHOHFROyJLFRTXHGHVHPSHxDODHVSHFLHHQHOHQWRUQRHQTXHVHGHVDUUROOD
E1~PHURGHLQGLYLGXRVFRQTXHFXHQWDODSREODFLyQ
F8WLOLGDGGHODHVSHFLHSDUDHOVHUKXPDQR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DFDGHQDDOLPHQWDULDFRPLHQ]DVXFLFORHQODFUHDFLyQGHPDWHULDYLYDSRU
ORVVHUHV
D$XWyWURIRV
E'HVFRPSRQHGRUHV
F&RQVXPLGRUHV
(O IHQyPHQR SRU HO FXDO ODV DJXDV DOPDFHQDGDV \ HVWDQFDGDV HVWiQ PX\
DERQDGDV\KDFHQFUHFHUYHJHWDFLyQHQH[FHVRFRQHOSHUMXLFLRTXHHOORVXSRQHHQ
FXDQWRDFRQWDPLQDFLyQVHGHQRPLQD
D,QYHUVLyQGHWHPSHUDWXUD
E(IHFWRLQYHUQDGHUR
F(XWURIL]DFLyQ
$TXHOODVHVSHFLHVTXHVLQHVWDUHQSHOLJURGHH[WLQFLyQVHODVSURWHJHSRU
VXUDUH]DRHVSHFLDOYDORUFLHQWtILFRHVWiQFDWDORJDGDVHQODDFWXDOOHJLVODFLyQHV
SDxRODVREUHHVWDPDWHULDFRPR
D9XOQHUDEOHV
E6HQVLEOHVDODDOWHUDFLyQGHVXKiELWDW
F'HLQWHUpVHVSHFLDO
(QODOXFKDSRUODYLGDODFRQGLFLyQPiVWUDVFHQGHQWHSDUDODFRQVHUYDFLyQ
GHODVHVSHFLHVHV
D6HUPiVIXHUWHTXHORVGHPiV
E7HQHUPD\RUQ~PHURGHLQGLYLGXRV
F7HQHUPD\RUFDSDFLGDGGHDGDSWDFLyQDOPHGLR
(QUHODFLyQFRQODHFRORJtDXQDGHODVVLJXLHQWHVUHVSXHVWDVHVODFRUUHFWD
D(FRVLVWHPD %LRFHQRVLV%LRWRSR
E%LRWRSR (FRVLVWHPD%LRFHQRVLV
F%LRFHQRVLV (FRVLVWHPD%LRWRSR
(QWUHORVIDFWRUHVTXHHOKRPEUHLQWURGXFHFRQVXSUHVHQFLD\TXHGHJUDGDQ
HOPHGLRDPELHQWHTXHORURGHDVHHQFXHQWUDQ
D/DFRQWDPLQDFLyQODWpFQLFD\ODFRQFHQWUDFLyQ
E/DVXSHUSREODFLyQODH[FHVLYDH[SORWDFLyQGHOPHGLR\ODFRQWDPLQDFLyQ
F/DWpFQLFDODVRFLHGDGGHPDVDV\HODEDQGRQRUXUDO
(QWUHORVHIHFWRVGHODOOXYLDiFLGDVHHQFXHQWUD
D'HVWUXFFLyQGHODYHJHWDFLyQ
E'HVWUXFFLyQGHODFDSDGHR]RQR
F3URYRFDUHOHIHFWRLQYHUQDGHUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DVVXVWDQFLDVTXtPLFDVTXHDIHFWDQIXQGDPHQWDOPHQWHDODGHVWUXFFLyQGH
ODFDSDGHR]RQRVRQORV
D&ORURIOXRFDUEXUDGRV
E3HVWLFLGDV
F3ODJXLFLGDV
&yPRVHOODPDHOJUXSRDOTXHQRSHUWHQHFHPRVSHURTXHWRPDPRVFRPR
PRGHORSDUDVRFLDOL]DUQRV"
D,QWUDJUXSR
E*UXSRtQWLPR
F*UXSRGHUHIHUHQFLD
&XDQGRXQLQGLYLGXRDFHSWDODVQRUPDVGHXQJUXSR\WLHQHVHQWLGRGHSHU
WHQHQFLDDOPLVPRHVWDPRVKDEODQGRGH
D*UXSRSULPDULR
E,QWUDJUXSR
F*UXSRVHFXQGDULR
(OSULQFLSDOIDFWRUTXHGHWHUPLQDGHXQQ~FOHRSREODFLRQDOHOTXHVHOHFRQ
VLGHUHFLXGDGHV
D0tQLPDDFWLYLGDGDJUtFROD
E3UHGRPLQLRGHODLQGXVWULDVREUHHOFRPHUFLR
F2UJDQL]DFLyQ
8QFRQMXQWRGHSHUVRQDVLQWHUUHODFLRQDGDVVREUHODEDVHGHXQRVUROHV\HV
WDWXVFRQRFLGRVTXHFRPSDUWHQREMHWLYRVFX\RVYDORUHV\DFWLWXGHVVRQFRPXQHV
\SRVHHQFRQFLHQFLDGHXQLGDGFRQVWLWX\HQ
D8QDPDVD
E8QDFDWHJRUtDVRFLDO
F8QJUXSRVRFLDO
/RVOODPDGRVHQVDQFKHVGHODVFLXGDGHVDFWXDOHVWLHQHQXQSODQR
D2UWRJRQDO
E5DGLRFRQFpQWULFR
F3LUDPLGDO
6LGHXQJUXSRGHFLPRVTXHVHFRQWLQ~DHQpOSRUHOYDORUHQVtPLVPRGH
ODVUHODFLRQHVTXHVHHVWDEOHFHQPiVTXHSRUHOLQWHUpVTXHSXHGHUHSRUWDUQRVVX
SHUWHQHQFLDHVWDPRVHQ
D8QJUXSRSULPDULR
E8QJUXSRVHFXQGDULR
F8QJUXSRIRUPDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DWHQGHQFLDDKXLUGHOFHQWURGHWRGDVODVDFWLYLGDGHVXUEDQDVTXHHQpOVH
GHVDUUROODQVHFRQRFHFRPRIHQyPHQRGH
D'HVFHQWUDOL]DFLyQ
E&RQFHQWUDFLyQ
F,QYDVLyQ
8QDVRFLHGDGHQODTXHORVVWDWXVVHGHEDQPiVDPpULWRVSURSLRVPiVTXH
DOSDUHQWHVFRHQODTXHHOGHUHFKRHVUHVWLWXWLYRPiVTXHUHSUHVLYR\GRQGHH[LVWD
PiVLQGLYLGXDOLGDGTXHFROHFWLYLGDGHVXQDVRFLHGDGGHQRPLQDGD
D7UDGLFLRQDO
E'HVROLGDULGDGPHFiQLFD
F'HVROLGDULGDGRUJiQLFD
6LXQJUXSRWLHQHXQDVUHJODVUtJLGDVHQVXIRUPDFLyQ\GHVDUUROOR\XQD
MHUDUTXtDHVWDEOHFLGDGHIRUPDHYLGHQWHKDEODPRVGH
D*UXSRFHUUDGR
E*UXSRIRUPDO
F*UXSRSULPDULR
4XpFDUDFWHUtVWLFDGHODVVLJXLHQWHVQRSHUWHQHFHDODV&RPXQLGDGHV*H
PHLQVFKDIWGH)HUGLQDQG7RQQwHV"
D&DGDLQGLYLGXRHVXQILQHQVtPLVPR
E5HODFLRQHVHPRWLYDV
F0HQRUHVUHODFLRQHVSULPDULDV
(OPiVIDPRVRPRGHORGHiUHDVVRFLDOHVXUEDQDVFRQRFLGRFRQHOQRPEUH
GHWHRUtDFRQFpQWULFDRGHODViUHDVFRQFpQWULFDVIXHHODERUDGRSRU
D+R\W
E+DUULV\8OOPDQ
F%XUJHVV
$ODSDXODWLQDOOHJDGDGHXQDDFWLYLGDGQRUPDOPHQWHLQIHULRUD]RQDVPiV
FRWL]DGDVGHODFLXGDGVHGHQRPLQD
D&RQFHQWUDFLyQ
E6HJUHJDFLyQ
F,QYDVLyQ
(VFDUDFWHUtVWLFDGHORUXUDOIUHQWHDORXUEDQR
D0D\RUHVUHODFLRQHVVHFXQGDULDVHQHOSULPHUR
E(FRQRPtDGHVXEVLVWHQFLDIUHQWHDOFRQVXPLVPR
F3REODFLyQPX\KHWHURJpQHD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpHVSHUDQ]DPHGLDGHYLGDDSUR[LPDGDWLHQHQORVKDELWDQWHVGHQXHVWUR
SDtVVHJ~QORV~OWLPRVGDWRVUHJLVWUDGRV"
DDxRV
EDxRV
FDxRV
8QDSLUiPLGHSREODFLRQDOGHWLSRSURJUHVLYRLQGLFDTXH
D(VDVRFLHGDGHVPX\MRYHQ
E/DPHGLDGHHGDGGHODSREODFLyQHVVXSHULRUDORVDxRV
F(OUHOHYRJHQHUDFLRQDOQRHVWiDVHJXUDGR
(QTXpHWDSDGHFUHFLPLHQWRSREODFLRQDOVHSURGXFHODOODPDGDH[SORVLyQ
GHPRJUiILFD"
D(QHOVLJOR;;
E(QODHWDSDGHWUDQVLFLyQ
F(QHOOODPDGRSHULRGRGHPRJUiILFRPRGHUQR
4XpGHQVLGDGGHSREODFLyQDSUR[LPDGDWLHQHDFWXDOPHQWHQXHVWURSDtV"
DKDELWDQWHVSRUNLOyPHWURFXDGUDGR
EKDELWDQWHVSRUNLOyPHWURFXDGUDGR
FKDELWDQWHVSRUNLOyPHWURFXDGUDGR
/DVWUDQVIRUPDFLRQHVTXHFRQRFHXQDVRFLHGDGGXUDQWHXQSHUtRGRODUJRGH
WLHPSRHVGHFLUGHYDULDVJHQHUDFLRQHV\SRUHOORQRHVREVHUYDEOHVLQRWUDQVFX
UULGRVSHULRGRVPX\ODUJRVHV
D&DPELRVRFLDO
E(YROXFLyQVRFLDO
F&DPELRJHQHUDFLRQDO
6HxDOHXQPHGLRGHFRPXQLFDFLyQGHPDVDVTXHDFWXDOPHQWHHVWiGHVDUUR
OODQGRXQIXHUWHFUHFLPLHQWR\XQDFDGDYH]PD\RULQIOXHQFLDVRFLDO
D/DWHOHYLVLyQ
E,QWHUQHW
F/RV&'5RP
(OFRQFHSWRGHLQIRUPDFLyQSHUVXDVLYDWLHQHUHODFLyQFRQHOWpUPLQR
D0DVV0HGLD
E5XPRU
F3URSDJDQGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpSREODFLyQWLHQHDFWXDOPHQWH(VSDxD"
D(QWUH\PLOORQHVGHKDELWDQWHV
E0iVGHPLOORQHVGHKDELWDQWHV\PHQRVGHPLOORQHV
F0iVGHPLOORQHVGHKDELWDQWHV\PHQRVGHPLOORQHV
6HxDOHXQDFDUDFWHUtVWLFDTXHQROHFRUUHVSRQGDDXQJUXSRVRFLDO
D(VWDEOHFLPLHQWRGHLQWHUDFFLRQHVHVWUXFWXUDGDVFRQVXVGLVWLQWRVHVWDWXV\UROHV
E5HODFLRQHVHVSRUiGLFDV
F3DUWLFLSDFLyQHQREMHWLYRVFRPXQHV
&XiOGHORVVLJXLHQWHVIDFWRUHVQRFRQWULEX\HDUHIRU]DUORVOD]RVGHXQLyQ
GHODIDPLOLDFRPRJUXSRSULPDULR"
D/RVYDORUHVHLQWHUHVHVVLPLODUHV
E/DVUHODFLRQHVLPSHUVRQDOHV\IRUPDOHV
F/DSUR[LPLGDGItVLFD\DFWLWXGHVFRPXQHV
&XDQGRODVH[UDWLRGHXQSDtVHVGHVLJQLILFDTXH
D+D\PXMHUHVSRUFDGDKRPEUHV
E+D\KRPEUHVSRUFDGDPXMHUHV
F+D\PXMHUHVSRUFDGDKRPEUHV
&RQHOFRQFHSWRGHSREODFLyQUHVLGHQWHUHJLVWUDUHPRV
D$FDGDLQGLYLGXRDOOtGRQGHQDFLy
E$FDGDLQGLYLGXRDOOtGRQGHWLHQHVXUHVLGHQFLDRILFLDO
F$FDGDLQGLYLGXRHQHOOXJDUHQTXHVHUHDOL]DXQFHQVRGHSREODFLyQ
(OJUXSRPD\RUHO~QLFRTXHQRHVVXEJUXSRGHRWURHV
D/DIDPLOLD
E/DVRFLHGDGKXPDQD
F(OPDFURJUXSR
/DWUDQVLFLyQGHPRJUiILFDVHUHILHUHDO
D'HVFHQVRGHORVQLYHOHVGHPRUWDOLGDG\PDQWHQLPLHQWRGHDOWDVWDVDVGHQDWDOLGDG
E$XPHQWRGHORVQLYHOHVGHPRUWDOLGDG\GHODWDVDGHQDWDOLGDG
F'HVFHQVRGHORVQLYHOHVGHPRUWDOLGDG\GHODWDVDGHQDWDOLGDG
/DRSRVLFLyQHQWUHTXLHQHVHVWiQLQWHUHVDGRVHQODSHUPDQHQFLD\SHUSH
WXDFLyQGHXQDVLWXDFLyQEHQHILFLRVDSDUDHOORV\TXLHQHVHVWiQLQWHUHVDGRVHQTXH
ODVLWXDFLyQFDPELHHVODGHILQLFLyQGDGDSRU'DKUHQGRUISDUD
D&RQIOLFWRVRFLDO
E5HYROXFLyQVRFLDO
F&DPELRVRFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HGLFHTXHH[LVWHXQDSREODFLyQHVFDVDDOOtGRQGH
D(OQ~PHURGHKDELWDQWHVUHVXOWDLQVXILFLHQWHSDUDHOSOHQRUHQGLPLHQWRGHORVUHFXU
VRVGHXQD]RQD
E(OQ~PHURGHKDELWDQWHVVREUHSDVDORVUHFXUVRVHPSOHDGRVGHXQD]RQD
F(OQ~PHURGHKDELWDQWHVUHVXOWDVXILFLHQWHSDUDHOSOHQRUHQGLPLHQWRGHORVUHFXUVRV
GHXQD]RQD
2UJDQL]DFLyQ VRFLDO EDVDGD HQ HO HVWDWXV PiV TXH HQ HO SDUHQWHVFR GL
YLVLyQ FRPSOHMD GHO WUDEDMR VLVWHPD GH LQWHUFDPELR HFRQyPLFR \ FRPHUFLDO VRQ
SDUWLFXODULGDGHVGH
D/DVPDVDV
E/DFRPXQLGDGXUEDQDGHODVRFLHGDGGHPDVDV
F/DVRFLHGDGGHVROLGDULGDGPHFiQLFD
4XpVRQORVXPEUDOHVGHFRQWDPLQDFLyQ"
D/DFDQWLGDGPi[LPDGHDSRUWHGHFRQWDPLQDQWHVDODDWPyVIHUD
E(OQLYHOPi[LPR\PtQLPRWROHUDEOHSDUDH[SORWDUXQPHGLRHFROyJLFR
F6RQORVOtPLWHVTXHVHHVWLPDQFRPRWROHUDEOHVSDUDODVDOXGKXPDQD
8QDGHODVFDUDFWHUtVWLFDVGHODVRFLHGDGGHPDVDVHV
D/DVUHODFLRQHVSULPDULDV
E(OSUHGRPLQLRGHORVYDORUHVWUDGLFLRQDOHV
F(ODQRQLPDWRGHORVLQGLYLGXRV
/DVPDVDVFRQSUR[LPLGDGItVLFDVRQGLYLGLGDVHQGLVJUHJDGDV\FRQJUH
JDGDVHQODTXH
D7HQJDQRQRDOJ~QSXQWRGHDWHQFLyQHQFRP~Q
E7HQJDQKRPRJHQHLGDGRQRVXVSDUWLFLSDQWHV
F6HDQYLROHQWDVRSDFtILFDV
(QXQDVRFLHGDGGHPDVDVGHFDPELRDFHOHUDGRHOKRPEUHKDGHHVWDU
D,PEXLGRGHIDOWDGHFRPSHWHQFLD
E([HQWRGHLQVHJXULGDGHVSHUVRQDOHV
F(QVLWXDFLyQGHFRQWLQXDDGDSWDFLyQ
4XpUHODFLyQVHHVWDEOHFHHQWUHFDPELRVRFLDO\SURJUHVR"
D(OFDPELRHVSRVLWLYR\HOSURJUHVRWDPELpQ
E(OSURJUHVRHVFRQVHFXHQFLDGHFXDOTXLHUFDPELRVRFLDO
F([LVWHSURJUHVRFXDQGRHOFDPELRVHRULHQWDHQXQDGLUHFFLyQGHVHDEOH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OGHGLFLHPEUHGHORVSDtVHVLQGXVWULDOL]DGRVVHFRPSURPHWLHURQ
HQOD&XPEUHGH.LRWRDHMHFXWDUXQFRQMXQWRGHPHGLGDVSDUD
D&RQWURODUODFRQWDPLQDFLyQ\ODH[FHVLYDH[SORWDFLyQGHPHGLRV
E5HGXFLUORVJDVHVGHHIHFWRLQYHUQDGHUR
F3URWHJHUODVHVSHFLHVHQSHOLJURGHH[WLQFLyQ
4XpOH\UHJXODHQ(VSDxDDQLYHOHVWDWDOODSURWHFFLyQGHOD1DWXUDOH]D"
D/H\GH3URWHFFLyQGHO0HGLR1DWXUDO
E/H\GH&RQVHUYDFLyQGHORV(VSDFLRV1DWXUDOHV\GHOD)ORUD\)DXQD6LOYHVWUHV
F/H\GHO'HVDUUROORVRVWHQLEOH\SURWHFFLyQGHO0HGLR$PELHQWH
/RTXHGLIHUHQFLDDOKRPEUHGHORVUHVWDQWHVVHUHVYLYRVHQVXSDSHOGHQWUR
GHODHFRORJtDHVVREUHWRGR
D6XJUDQDGDSWDELOLGDGDFXDOTXLHUPHGLR
E6XPD\RUIXHU]D
4XpHVODELRGHJUDGDELOLGDG"
D(VODFDSDFLGDGGHORVDPLQRiFLGRVGHFRQYHUWLUVHHQQXHYRVRUJDQLVPRV
E(VODFDUDFWHUtVWLFDGHDOJXQDVVXVWDQFLDVGHVHUGHVFRPSXHVWDVSRUPLFURRUJDQLV
PRVTXHODVFRQYLHUWHQHQDPLQRiFLGRV\HQQXHYRVRUJDQLVPRV
F(VODFDUDFWHUtVWLFDGHDTXHOODVVXVWDQFLDVTXHODQDWXUDOH]DQRSXHGHGHVFRPSRQHU
\VyORPHGLDQWHODLQWHUYHQFLyQKXPDQDSXHGHQVHUUHSURFHVDGDVSDUDODUHXWLOL]DFLyQ
/D&RQIHUHQFLDVREUH0HGLR$PELHQWH\'HVDUUROORGHODV1DFLRQHV8QLGDVFRQR
FLGDFRPROD&XPEUHGHOD7LHUUDVHUHXQLyHQ5tRGH-DQHLURHQMXQLRGH\WUDWyGH
D0HGLGDVUHODFLRQDGDVFRQHOFDPELRPHGLRDPELHQWDOHFRQyPLFR\SROtWLFR
E/RVJDVHVGHHIHFWRLQYHUQDGHUR
F(ODJXMHURGHODFDSDGHR]RQR
(OSULQFLSDOPRWRUGHOD+LVWRULDSDUD'DKUHQGRUIHV
D(OPRYLPLHQWRVRFLDO
E(OFRQIOLFWRVRFLDO
F/DVRFLHGDGGHPDVDV
(OFRQIOLFWRVRFLDOHQFXDQWRDVXLPSRUWDQFLDVHHVWXGLDGHDFXHUGRD
GRVHVFDODVLQGHSHQGLHQWHV
D8QDGHLQWHQVLGDG\RWUDGHYLROHQFLD
E8QDGHHPRFLyQ\RWUDGHLQWUDQVLJHQFLD
F8QDGHUDGLFDOLGDG\RWUDGHUHEHOLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DDOWDMHUDUTXtDUHOLJLRVDODPRQDUTXtDODDULVWRFUDFLDVRQFRQVLGHUDGDVHOLWHV
D6LPEyOLFDV
E&DULVPiWLFDV
F7UDGLFLRQDOHV
7RGD RUJDQL]DFLyQ GH FDUiFWHU UHLYLQGLFDWLYR FX\R REMHWLYR HV DJUXSDU D
PLHPEURVVRFLDOHVSDUDODGHIHQVDGHFLHUWRVREMHWLYRVJHQHUDOPHQWHGHFDUiFWHU
VRFLDOVHGHQRPLQD
D,QVWLWXFLyQVRFLDO
E$JUXSDFLyQGHLQWHUHVHV
F0RYLPLHQWRVRFLDO
&RQTXpQRPEUHVHFRQRFHODUHXQLyQGHPDQGDWDULRVDQLYHOPXQGLDOTXH
VHKDFHOHEUDGRHQHODxRFRQODLQWHQFLyQGHUHJXODU\GLVPLQXLUODV
HPLVLRQHVGHJDVHVGHHIHFWRLQYHUQDGHUR"
D&RQIHUHQFLDGH&RSHQKDJXH
E&RQIHUHQFLDGH/LVERD
F&RQIHUHQFLDGH.LRWR
&yPRVHGHQRPLQDDORVVHUHVYLYRVTXHKDELWDQHQHOVXHORGHODVDJXDV
RFHiQLFDV"
D6HUHVEHQWyQLFRV
E6HUHVSHOiJLFRV
F6HUHVQHUtWLFRV
$TXHOORVPLHPEURVVRFLDOHVRJUXSRVGHSHUVRQDVFRQXQYDORUFXDOLWDWLYR
VXSHULRUDOUHVWRFX\DVFXDOLGDGHVORVKDFHQLQIOX\HQWHVHQODVRFLHGDGVHGHQR
PLQDQVLJXLHQGRD3DUHWR
D6LQJXODULGDGHV
E(OLWHV
F-HWVHW
&XDQGRVXDFFLyQVHFHQWUDHQSUHVLRQDUVREUHORVSRGHUHVS~EOLFRVORV
PRYLPLHQWRVVRFLDOHVVHFRQYLHUWHQHQ
D*UXSRVGHSUHVLyQ
E(OLWHV
F/tGHUHV
$GLIHUHQFLDGHODVVRFLHGDGHVWUDGLFLRQDOHVHQTXHORVYDORUHVVRFLDOHVQR
FDPELDQHVWDVVRFLHGDGHVGHPDVDVVHFDUDFWHUL]DQSRU
D4XHORVYDORUHVVHFRQVROLGDQPDVLYDPHQWH
E4XHVHLQVWLWXFLRQDOL]DHOFDPELR
F4XHORVYDORUHVVRFLDOHVVHSHUPXWDQSRUFRQWUDYDORUHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVSHUVRQDVTXHSRUGHVWDFDUVHHQHOHMHUFLFLRHMHPSODUGHXQDGHWHU
PLQDDFWLYLGDG\TXHSRUHOORVHSUHVHQWDQFRPRHOSURWRWLSRGHFLHUWDVIRUPDVGH
KDFHURGHYLYLUVHGHQRPLQDQ
D(OLWHVLGHROyJLFDV
E(OLWHVFDULVPiWLFDV
F(OLWHVVLPEyOLFDV
%DMDVWDVDVGHQDWDOLGDG\GHPRUWDQGDGFRQUHVXOWDGRGHHVWDQFDPLHQWR
HQHOFUHFLPLHQWRQDWXUDO\HVSHUDQ]DPHGLDGHYLGDHOHYDGDVHFRUUHVSRQGHFRQ
ODHWDSDGHGHVDUUROORSREODFLRQDOGHQRPLQDGD
D'HWUDQVLFLyQ
E'HUpJLPHQGHPRJUiILFRPRGHUQR
F'HUpJLPHQGHPRJUiILFRWUDGLFLRQDO
(Q TXp GpFDGD GHO VLJOR SDVDGR FRPLHQ]DQ D HVWDQFDUVH ODV WDVDV GH
QDWDOLGDGKDVWDOOHJDUDXQFUHFLPLHQWRYHJHWDWLYRFHUFDQRDOFHURHQQXHVWURSDtV"
D(QORVDxRV
E'XUDQWHODGpFDGDGHORV
F(QWUHORVDxRV\
3DUDTXHXQDVHULHGHPRGLILFDFLRQHVVHSXHGDQFRQVLGHUDUFDPELRVRFLDO
GHEHDIHFWDUDOFXUVRGHODKLVWRULDGHHVDVRFLHGDG\GHEHWHQHUXQDGHODVVLJXLHQ
WHVFDUDFWHUtVWLFDV
D(OFDPELRGHEHVHUSHUPDQHQWH
E'HEHVHUHVSRUiGLFR\WUDQVLWRULR
F(OFDPELRQRGHEHDIHFWDUDODHVWUXFWXUDVRFLDO
(OFRQIOLFWRVRFLDOVHJ~Q'DKUHQGRUI
D(VVLHPEUHQHJDWLYR\KD\TXHHYLWDUORSDUDFRQVHJXLUXQDVRFLHGDGPiVMXVWD
E(VXQRGHORVPRWRUHVGHOFDPELRVRFLDO
F'HVHPERFDHQUHYROXFLyQSRUORTXHKD\TXHFRUUHJLUORDWLHPSR
(OFRQIOLFWRVRFLDOHQFXDQWRDVXLPSRUWDQFLDVHHVWXGLDGHDFXHUGRFRQ
GRVHVFDODVLQGHSHQGLHQWHV
D'HLQWHQVLGDG\GHYLROHQFLD
E'HFRQWLQXLGDG\GHUXSWXUD
F'HFDPELR\GHUHWURFHVR
4XpWDVDUHODFLRQDORVQDFLPLHQWRVIHPHQLQRVFRQODVPDGUHV"
D7DVDGHIHFXQGLGDG
E7DVDGHUHSURGXFFLyQ
F7DVDGHIHPLQLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4Xp VH UHSUHVHQWD HQ HO HMH GH RUGHQDGDV R YHUWLFDO GH XQD SLUiPLGH
SREODFLRQDO"
D/DFDQWLGDGGHSHUVRQDVGHXQJUXSRGHSREODFLyQ
E/RVDJUHJDGRVHVWDGtVWLFRVGHXQDSREODFLyQ
F/RVJUXSRVGHHGDGHQTXHGLYLGLPRVODSREODFLyQ
6HJ~QODWHRUtDGHODWUDQVLFLyQGHPRJUiILFDHQTXpIDVHGHHVWDFRPLHQ
]DDGLVPLQXLUODQDWDOLGDGGHXQDSREODFLyQ"
D(QODSULPHUDIDVH
E(QODVHJXQGDIDVH
F(QODWHUFHUDIDVH
(OUHFWiQJXORIRUPDGRHQXQDSLUiPLGHSREODFLRQDOLQGLFDWLYRGHOQ~PHUR
GHSHUVRQDVGHLJXDOHGDGGHXQDGHWHUPLQDGDSREODFLyQUHFLEHHOQRPEUHGH
D&RKRUWHGHSREODFLyQ
E(VWUXFWXUDSREODFLRQDO
F(YROXFLyQGHODSREODFLyQ
/DFLHQFLDTXHHVWXGLDODHYROXFLyQHQHOWLHPSRGHODVSREODFLRQHV\ODV
PRGLILFDFLRQHVGHGLPHQVLyQGLVWULEXFLyQIHFXQGLGDGHWFVHFRQRFHFRPR
D(VWDGtVWLFDSREODFLRQDO
E'HPRJUDItDHVWiWLFD
F'HPRJUDItDGLQiPLFD

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
D$OD(VFXHODGH&KLFDJR
F(VODFDSDFLGDGGHDOJXQDVVXVWDQFLDVSDUDGHVFRPSRQHUVHHQPDWHULDRUJiQLFD
SRUPHGLRGHGHWHUPLQDGDVEDFWHULDV
D0i[LPR0tQLPR
D$FWLYLGDGSULPDULD
F'HVDUUROORVRVWHQLEOH
F6DEHUTXpIXQFLyQFXPSOHHVWHUHFXUVRHQHOHFRVLVWHPD
E(QSHOLJURGHH[WLQFLyQ
D3HOLJURGHHURVLyQ\GHVHUWL]DFLyQGHHVD]RQD
E$XWRHFRORJtD
E0XOWLWXGHVFRQYHQFLRQDOHV
D'HPRVFRSLD
F/DQRWLFLDHVPiVDPELJXD
D'LVSHUVLRQLVWD
E/DH[SDQVLyQGHODVSDXWDVXUEDQDVGHYLGDD]RQDVFHUFDQDV
E,JXDOGDGFXOWXUDOGHWRGRVVXVFRPSRQHQWHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D9LYLUHQXQDGHWHUPLQDGD]RQD\WHQHUSURIHVLRQHVFRPXQHV
E6HFWRUGHSREODFLyQPDUJLQDO
D7LHQHPD\RUFRPSOHMLGDG
E0DVDV
F0D\RUHVFRWDVGHOLFWLYDV
D0XOWLWXGFDXVDO
F/H%RQ
D$SDULHQFLDVRFLDO
F0DOHVWDUVRFLDO
F/D5HYROXFLyQ,QGXVWULDO
E4XHODPDVDSRVHHXQDOPDSURSLD
D/DIDOWDGHHVWUXFWXUDVRFLDOHQODVHJXQGD
D/DUXSWXUDGHODVIRUPDVGHYLGDWUDGLFLRQDOHV
F(VXQJUXSR
D&UHDFLyQGHQXHYDVQHFHVLGDGHV
F+DPRVWUDGRVXWHQGHQFLDDFUHDUJUXSRVRDVRFLDFLRQHVVXVWLWXWLYRV
E0RYLOLGDGSVtTXLFD
F)HQyPHQRVGHVXJHVWLyQHLPLWDFLyQ
F8QDHOHYDFLyQJHQHUDOL]DGDGHOQLYHOGHYLGDGHODVPDVDV
D3UHGRPLQDODHVWDQGDUL]DFLyQVREUHODLQGLYLGXDOL]DFLyQGHOPHQVDMH
F3DUN\%XUJHVV
D8QDGHPRJUDItDWUDGLFLRQDO
F$JUHVLYDVDGTXLVLWLYDVH[SUHVLYDV\HYDVLYDV
F3RWHQFLDPiVODVVHPHMDQ]DVTXHODVGLIHUHQFLDVHQWUHORVLQGLYLGXRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F1RVyORODFRQWDPLQDFLyQSURGXFHLPSDFWRDPELHQWDO
E3DUDHOPDQWHQLPLHQWRGHOHTXLOLEULRHFROyJLFR
D&RQWDPLQDFLyQDWPRVIpULFDGHODJXD\GHOVXHOR
F$XPHQWRGHOGLy[LGRGHFDUERQRTXHSURYRFDXQLQFUHPHQWRGHODWHPSHUDWXUD
F$PERVVHPRGLILFDQPXWXDPHQWHDGDSWiQGRVH
F/DFDGHQDDOLPHQWDULD
F(YROXFLyQ
E/RVUD\RVXOWUDYLROHWDVSURGXFLGRVSRUHOVRO
F4XHKD\TXHSURWHJHUDODVHVSHFLHVPiVKHUPRVDV
E/DFLUFXODFLyQFtFOLFDGHODHQHUJtD
D4XHHVXQHTXLOLEULRGHPRYLPLHQWRFRQWLQXR
E(ODSRUWHHVPD\RUTXHODDEVRUFLyQ
F8WLOLGDGGHODHVSHFLHSDUDHOVHUKXPDQR
D$XWyWURIRV
F(XWURIL]DFLyQ
F'HLQWHUpVHVSHFLDO
F7HQHUPD\RUFDSDFLGDGGHDGDSWDFLyQDOPHGLR
D(FRVLVWHPD %LRFHQRVLV%LRWRSR
E/DVXSHUSREODFLyQODH[FHVLYDH[SORWDFLyQGHOPHGLR\ODFRQWDPLQDFLyQ
D'HVWUXFFLyQGHODYHJHWDFLyQ
D&ORURIOXRFDUEXUDGRV
F*UXSRGHUHIHUHQFLD
E,QWUDJUXSR
D0tQLPDDFWLYLGDGDJUtFROD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F8QJUXSRVRFLDO
D2UWRJRQDO
D8QJUXSRSULPDULR
D'HVFHQWUDOL]DFLyQ
F'HVROLGDULGDGRUJiQLFD
E*UXSRIRUPDO
F0HQRUHVUHODFLRQHVSULPDULDV
F%XUJHVV
F,QYDVLyQ
E(FRQRPtDGHVXEVLVWHQFLDIUHQWHDOFRQVXPLVPR
EDxRV
D(VDVRFLHGDGHVPX\MRYHQ
E(QODHWDSDGHWUDQVLFLyQ
FKDELWDQWHVSRUNLOyPHWURFXDGUDGR
E(YROXFLyQVRFLDO
E,QWHUQHW
F3URSDJDQGD
E0iVGHPLOORQHVGHKDELWDQWHV\PHQRVGHPLOORQHV
E5HODFLRQHVHVSRUiGLFDV
E/DVUHODFLRQHVLPSHUVRQDOHV\IRUPDOHV
E+D\KRPEUHVSRUFDGDPXMHUHV
E$FDGDLQGLYLGXRDOOtGRQGHWLHQHVXUHVLGHQFLDRILFLDO
E/DVRFLHGDGKXPDQD
D'HVFHQVRGHORVQLYHOHVGHPRUWDOLGDG\PDQWHQLPLHQWRGHDOWDVWDVDVGHQDWDOLGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D&RQIOLFWRVRFLDO
D(OQ~PHURGHKDELWDQWHVUHVXOWDLQVXILFLHQWHSDUDHOSOHQRUHQGLPLHQWRGHORV
UHFXUVRVGHXQD]RQD
E/DFRPXQLGDGXUEDQDGHODVRFLHGDGGHPDVDV
F6RQORVOtPLWHVTXHVHHVWLPDQFRPRWROHUDEOHVSDUDODVDOXGKXPDQD
F(ODQRQLPDWRGHORVLQGLYLGXRV
D7HQJDQRQRDOJ~QSXQWRGHDWHQFLyQHQFRP~Q
F(QVLWXDFLyQGHFRQWLQXDDGDSWDFLyQ
F([LVWHSURJUHVRFXDQGRHOFDPELRVHRULHQWDHQXQDGLUHFFLyQGHVHDEOH
E5HGXFLUORVJDVHVGHHIHFWRLQYHUQDGHUR
E/H\GH&RQVHUYDFLyQGHORV(VSDFLRV1DWXUDOHV\GHOD)ORUD\)DXQD6LOYHVWUHV
D6XJUDQDGDSWDELOLGDGDFXDOTXLHUPHGLR
E(VODFDUDFWHUtVWLFDGHDOJXQDVVXVWDQFLDVGHVHUGHVFRPSXHVWDVSRUPLFURRU
JDQLVPRVTXHODVFRQYLHUWHQHQDPLQRiFLGRV\HQQXHYRVRUJDQLVPRV
D0HGLGDVUHODFLRQDGDVFRQHOFDPELRPHGLRDPELHQWDOHFRQyPLFR\SROtWLFR
E(OFRQIOLFWRVRFLDO
D8QDGHLQWHQVLGDG\RWUDGHYLROHQFLD
F7UDGLFLRQDOHV
F0RYLPLHQWRVRFLDO
D&RQIHUHQFLDGH&RSHQKDJXH
D6HUHVEHQWyQLFRV
E(OLWHV
D*UXSRVGHSUHVLyQ
E4XHVHLQVWLWXFLRQDOL]DHOFDPELR
F(OLWHVVLPEyOLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E'HUpJLPHQGHPRJUiILFRPRGHUQR
F(QWUHORVDxRV\
D(OFDPELRGHEHVHUSHUPDQHQWH
E(VXQRGHORVPRWRUHVGHOFDPELRVRFLDO
D'HLQWHQVLGDG\GHYLROHQFLD
E7DVDGHUHSURGXFFLyQ
F/RVJUXSRVGHHGDGHQTXHGLYLGLPRVODSREODFLyQ
E(QODVHJXQGDIDVH
D&RKRUWHGHSREODFLyQ
F'HPRJUDItDGLQiPLFD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/$6(*85,'$'&21&(3726(*85,'$',1',9,'8$/<6(*85,'$'
&2/(&7,9$/$,16(*85,'$'32/7,&$6'(6(*85,'$',1$'$37$&,1
0$5*,1$/,'$''(/,1&8(1&,$&21&(37202'(/26(;3/,&$7,926<
&/$6(6'('(/,1&8(1&,$
(QTXpWHRUtDVVREUHHOGHOLWRVHHQFXDGUDUtD6XWKHUODQG"
D%LROyJLFDV
E3VLFROyJLFDV
F6RFLROyJLFDV
/DPDUJLQDFLyQLPSOLFDGHOLQFXHQFLD"
D6tSXHVWRTXHDORVGHOLQFXHQWHVVHOHVFRQVLGHUDQPDUJLQDGRV
E1RQHFHVDULDPHQWH
F6tSRUTXHODLQDGDSWDFLyQSURGXFHPDUJLQDFLyQ
/RVSULQFLSDOHVPRWLYRVGHPDUJLQDFLyQVRQ
D/HJDOHV
E6RFLRHFRQyPLFRV
F3ROtWLFRV
/DLQVHJXULGDGLPSLGH
D(OGHVDUUROOR
E/DFRQYLYHQFLD
F/DVROLGDULGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OFRQFHSWRGHLQVHJXULGDGLQGLYLGXDOYDtQWLPDPHQWHUHODFLRQDGRFRQHOGH
D/LEHUWDG
E6ROLGDULGDG
F'HSHQGHQFLD
/DVFRQVHFXHQFLDVSHUMXGLFLDOHVTXHXQGHOLQFXHQWHSXHGDVXIULUSRUSDUWH
GHODVLQVWLWXFLRQHVS~EOLFDVDMHQDVDODVSURSLDVSHQDVTXHGHEDFXPSOLUSRUVX
GHOLWRHVORTXHVHFRQRFHFRPR
D(WLTXHWDMH
E9LFWLPL]DFLyQWHUFLDULD
F,QVHJXULGDGYLUWXDO
7RGRVORVLQWHJUDQWHVVRFLDOHVVHEHQHILFLDQGHORUGHQSRUORTXHHVQHFH
VDULROOHJDUDXQFRQVHQVRHQHOTXHORVPLHPEURVGHODVRFLHGDGFHGHQSDUWHGH
VXOLEHUWDGDORVSRGHUHVS~EOLFRVSDUDTXHpVWRVOHVJDUDQWLFHQODVHJXULGDG(VWD
WHRUtDVHFRQRFHFRPR
D'HOLQWHUpVPXWXR
E'HSpUGLGDGHOLEHUWDG
F'HODFRDFFLyQGHVGHHOSRGHU
3DUDTXHXQDVRFLHGDGVHGHVDUUROOHQRUPDOPHQWHHVQHFHVDULRTXHH[LVWD
XQRUGHQDGHFXDGR6HxDOHXQDWHRUtDHQODTXHODVHJXULGDGVHLPSRQJDGHIRUPD
QDWXUDOSRUIRUPDUSDUWHGHORVYDORUHVGHHVDVRFLHGDG
D7HRUtDGHOLQWHUpVPXWXR
E7HRUtDGHODDFHSWDFLyQGHYDORUHV
F7HRUtDGHODFRDFFLyQGHVGHHOSRGHU
8QWHPRUGLIXVRDVHUYtFWLPDGHODGHOLQFXHQFLDTXHQRVHFRQFUHWDHQQLQ
JXQDDFFLyQGHOLFWLYDGHWHUPLQDGDSHURTXHVHVXIUHFRPRFRQVHFXHQFLDGHVLWXD
FLRQHVSRFRGHILQLGDVWDOHVFRPRHOHFRGHGHOLWRVHQORVPHGLRVGHFRPXQLFDFLyQ
HVORTXHVHFRQRFHFRPR
D,QVHJXULGDGVXEMHWLYD
E,QVHJXULGDGREMHWLYD
F,QVDWLVIDFFLyQOHJDO
/DLQVHJXULGDGFLXGDGDQDHVXQFRQFHSWR
D2EMHWLYRSRUFXDQWRSXHGHGHWHFWDUVHUHDOPHQWHHQDWHQFLyQDOGHVRUGHQH[LVWHQWH
E6XEMHWLYRSXHVVHDSUHFLDGHGLVWLQWDVIRUPDVVHJ~QODLQIOXHQFLDGHRWURVIDFWRUHV
F/DVORVUHVSXHVWDVDQWHULRUHVVRQFRUUHFWDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D FLHQFLD TXH HVWXGLD ODV H[SHULHQFLDV QHJDWLYDV TXH OD YtFWLPD SXHGD
VXIULUELHQFRPRFRQVHFXHQFLDGHOSURSLRGHOLWRELHQSRUODVH[SHULHQFLDVFRQHO
VLVWHPDOHJDOVHFRQRFHFRPR
D6HJXULGDGFLXGDGDQD
E,QVHJXULGDGVXEMHWLYD
F9LFWLPL]DFLyQ
8QGHVYLDGRGHJUXSRHVDTXHOTXH
D1RFXPSOHFRQODVQRUPDVGHFRQYLYHQFLDFRPXQHVHQHVDVRFLHGDG
E'HOLQTXHHQJUXSRSRUHVWDUPX\GLYLGLGDODHVSHFLDOL]DFLyQSDUDODFRQVHFXFLyQGH
GHOLWRVPX\HODERUDGRV
F&XPSOHFRQODVQRUPDVGHVXJUXSRSHURHVpVWHHOTXHWLHQHQRUPDVGHVYLDGDV
UHVSHFWRDODVRFLHGDGHQTXHHVWiLQPHUVR
(OFRPSRUWDPLHQWRDMHQRDODQRUPDOLGDGJHQHUDO\SRUORWDQWRGHVYLDGR
SHURSUHPLDGRSRUODVRFLHGDGDODFHUFDUVHPiVKDFLDORVYDORUHVTXHODIXQGDPHQ
WDHVHOFRQFHSWRGH
D'HVYLDFLRQHVSULPDULDV
E'HVYLDFLRQHVVHFXQGDULDV
F'HVYLDFLRQHVSRVLWLYDV
4XpH[SUHVLyQHVPiVFRUUHFWD"
D/H\HVLJXDODQRUPDVRFLDO
E1RUPDVRFLDOHVXQFRQFHSWRPiVDPSOLRTXHHOGHOH\
F(OFRQFHSWROH\LQFOX\HDOGHQRUPDVRFLDO
/DVHJXULGDGLQGLYLGXDOVHYDDGTXLULHQGRHQHOVHQRIDPLOLDUSDUDTXHORV
KLMRVGHXQDIDPLOLDVHVLHQWDQVHJXURVGHVtPLVPRVORVSDGUHVGHEHQVHU
D6HJXURVUtJLGRVHLQWROHUDQWHV
E$XWRULWDWLYRV
F3HUPLVLYRV
/DPDUJLQDOLGDGFRPSRUWDXQXQD
D'HVYLDFLyQVRFLDOHQFXDQWRFRPSRUWDPLHQWRYROXQWDULRDSDUWDGRGHODQRUPD
E9ROXQWDGFRQVFLHQWHSRUHOVXMHWRTXHODSDGHFH
F1DGDGHORDQWHULRUREOLJDWRULDPHQWH
/DH[SOLFDFLyQGDGDSRU6XWKHUODQGDFHUFDGHODVGHVYLDFLRQHVGHFRQGXFWDV
DILUPDQGRTXHODFRQGXFWDGHVYLDGDVHDSUHQGHVHHQFXDGUDGHQWURGHODWHRUtDGH
D/DDQRPLD
E'HVDMXVWHHQWUHPHGLRV\REMHWLYRVVRFLDOHV
F$VRFLDFLyQGLIHUHQFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DIDOWDFODUDGHXQDQRUPDRODFRQWUDGLFFLyQHQWUHPHGLRV\REMHWLYRVGD
OXJDUD
D3HUVXDVLyQ
E$QRPLD
F3HUWXUEDFLyQVRFLDO
4XLpQDILUPRTXHHOGHOLWRHQXQFLHUWRJUDGRFRQWURODGRHVFRQYHQLHQWH
SDUDXQDVRFLHGDGVDQD"
D.DUW0DU[
E:HEHU
F(PLOH'XUNKHLP
(Q UHODFLyQ FRQ ODV SROtWLFDV GH VHJXULGDG HQ TXp FRQFHSWR SRGUtD HQ
FXDGUDUVH XQD DFWXDFLyQ SROLFLDO GH GHWHQFLyQ GH GHOLQFXHQWHV H LQFDXWDFLyQ GH
HIHFWRVGHOGHOLWR"
D8QDDFFLyQUHSUHVLYD
E8QDDFFLyQSUHYHQWLYD
F8QDDFFLyQDVLVWHQFLDO
&RPRFDXVDPiVJHQHUDOHQODGHOLQFXHQFLDVHSXHGHVHxDODU
D'HILFLHQWHVRFLDOL]DFLyQHQHOVHQRIDPLOLDU
E)DFWRUHVKHUHGLWDULRV
F'HILFLHQFLDVSVtTXLFDV
/DLQVHJXULGDGFLXGDGDQDHVHOUHVXOWDGRGH
D8QDPDODSROtWLFDGHVHJXULGDG
E8QLQFUHPHQWRGHOLFWLYRH[FOXVLYDPHQWH
F8QDLQVHJXULGDGREMHWLYD\RWUDVXEMHWLYD
/DSURSDJDQGDHQPHGLRVGHFRPXQLFDFLyQVREUHODQHFHVLGDGGHDGRSFLyQ
GHPHGLGDVGHVHJXULGDGORVSURJUDPDVWHOHYLVLYRVVREUHGHOLWRVODLQVDWLVIDFFLyQ
DQWHHOVLVWHPDSHQDOHWFVRQDVSHFWRVTXH
D&UHDQLQVHJXULGDGVXEMHWLYDRYLUWXDO
E6RQIDFWRUHVSRVLWLYRVTXHD\XGDQDHUUDGLFDUODLQVHJXULGDGFLXGDGDQD
F6RQSDUWHGHODDFFLyQUHSUHVLYDSROLFLDO
6HJ~QODWHRUtDGHODDQRPLDHORULJHQGHODGHOLQFXHQFLDHVWiHQ
D/DDXVHQFLDGHQRUPDV
E8QSURFHVRGHVRFLDOL]DFLyQLQVXILFLHQWH
F/RVFRPSRUWDPLHQWRVDSUHQGLGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DPDUJLQDOLGDG
D(VQRUPDOPHQWHLQYROXQWDULD
E(VVLHPSUHYROXQWDULD
F(VVLQyQLPRGHLQDGDSWDFLyQ
8QDSHUVRQDTXHQRTXLHUDSURJUHVDUHQVRFLHGDGSHURTXHQRVHDSDUWDGH
ORVPHGLRVTXHpVWDOHIDFLOLWDHVXQ
D&RQIRUPLVWD
E5LWXDOLVWD
F,QQRYDGRU
(OHVWDGRGHDUPRQtDGHFRQYLYHQFLDGHELHQHVWDUHQTXHVHHQFXHQWUDXQ
LQGLYLGXRRXQDFROHFWLYLGDGHQXQOXJDU\PRPHQWRGDGRVORGHQRPLQDPRV
D/LEHUWDG
E6HJXULGDG
F,JXDOGDG
8QGHOLQFXHQWHHQFXDQWRLQFRQIRUPLVWDHVXQ
D,QQRYDGRU
E5LWXDOLVWD
F5HEHOGH
(OLQFRQIRUPLVPRHQHOTXHVHUHFXUUHDPHGLRVGLIHUHQWHVDORVDSUREDGRV
VRFLDOPHQWHSDUDFRQVHJXLUREMHWLYRVDFHSWDGRVHV
D6HGLFLyQ
E5HEHOLyQ
F,QQRYDFLyQ
&DUDFWHUL]DODGHOLQFXHQFLDMXYHQLO
D6XDGDSWDFLyQDODVQRUPDVVRFLDOHV
E/DYLROHQFLDGHVXVDFWRV
F6XSHUIHFWDLQWHJUDFLyQHQVRFLHGDG
/RVIDFWRUHVTXHPiVSUROLIHUDQFRPRFDXVDVGHPDUJLQDFLyQVRQORV
D3HUVRQDOHV
E6RFLRFXOWXUDOHV
F6RFLRHFRQyPLFRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OQ~PHURGHSHUVRQDVTXHKDQVXIULGRORVHIHFWRVGHOGHOLWRHQUHODFLyQ
FRQODSREODFLyQWRWDOGHHVHSDtVHVVX
DQGLFHGHGHOLQFXHQFLD
E5D]yQGHLQVHJXULGDG
F7DVDGHYLFWLPL]DFLyQ
&RQVWLWXFLRQDOPHQWHVRQGRVFRQFHSWRVtQWLPDPHQWHOLJDGRV
D2UGHQ\SURJUHVR
E$XWRULGDG\OLEHUWDG
F6HJXULGDG\OLEHUWDG
(QXQVLVWHPDVRFLDOHQGHPRFUDFLD
D(VPiVLPSRUWDQWH\DVtVHYDORUDODOLEHUWDGTXHHORUGHQ
E(VWiYDORUDGRHORUGHQVREUHODOLEHUWDG
F3DUDTXHKD\DOLEHUWDGHVQHFHVDULRRUGHQ
/DWHRUtDGHODDQRPLDIXHIRUPXODGDSRU
D'XUNKHLP
E&OXHFN
F%DQGXUD
/DVFRQGXFWDVLQDGDSWDGDVGHVHPERFDQHQ
D'HOLWR
E'HVYLDFLyQVHFXQGDULD
F1LQJXQDWLHQHTXHVHUQHFHVDULDPHQWH
'XUNKHLPH[SOLFyHOGHOLWREDMRHOSXQWRGHYLVWDGHOD
D7HRUtD(FROyJLFD
E7HRUtDGHOD$QRPLD
F7HRUtDGHORV&RQWDFWRV'LIHUHQFLDOHV
&XDQGRODSHUVRQDSHUFLEHFRPRLQH[LVWHQWHORVPHGLRVVRFLDOHVDVXDOFDQ
FHSDUDFRQVHJXLUORVILQHVTXHODVRFLHGDGSURSXJQDVHSURGXFH
D,UUDFLRQDOLGDG
E3UREOHPDVSVLFROyJLFRV
F$QRPLD
/DGHOLQFXHQFLDHVXQWpUPLQRHPLQHQWHPHQWH
D3VLFROyJLFR
E/HJDO
F6RFLDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DGHOLQFXHQFLDVHFRUUHVSRQGHFRQODOODPDGD
D'HVYLDFLyQSULPDULD
F'HVYLDFLyQWHUFLDULD
(QXQDVRFLHGDGGHPRFUiWLFD
D6HJXULGDG\OLEHUWDGQRVRQFRPSDWLEOHV
E/DVHJXULGDGLQGLYLGXDOHVXQFRQGLFLRQDQWHGHODVHJXULGDGFROHFWLYD
F/DOLEHUWDGLQGLYLGXDOSHUPLWHHOFRQWUROGHODDUELWUDULHGDG
&yPRVHFRQVWDWDOHJDOPHQWHODSUHVHQFLDGHODVHJXULGDGHQODVRFLHGDG"
D0HGLDQWHODH[LVWHQFLDGHOGHUHFKR
E0HGLDQWHORVIDFWRUHVVRFLRDPELHQWDOHV
F0HGLDQWHGLVWLQWRVPHFDQLVPRVVRFLDOHV\IDPLOLDUHV
4XpDUWtFXORGHOD&RQVWLWXFLyQHVWDEOHFHHOGHUHFKRDODOLEHUWDG\DOD
VHJXULGDGGHWRGDSHUVRQD"
D
E
F
/DVGLVWLQWDVPRGDOLGDGHVGHLQFRQIRUPLVPRIXHURQSURSXHVWDVSRU
D0HUWRQ
E'XUNKHLP
F0DVORZ
/DVHJXULGDGFROHFWLYDUHIHULGDDXQSDtVVHFRQFUHWDHQ
D8QPHQRUQ~PHURGHGHOLWRV
E3RVHHUXQHMpUFLWRSURIHVLRQDO\WHFQLILFDGR
F/RDQWHULRU\PXFKRVRWURVDVSHFWRV
6HJ~Q0HUWRQGHOFRQIOLFWRHQWUHILQHVFXOWXUDOHV\QRUPDVLQVWLWXFLRQDOHV
SXHGHVXUJLU
D$QRPLD
E&RQIOLFWRGHUROHV
F0RYLPLHQWRVRFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DH[LVWHQFLDGHXQDFXOWXUDGHOLFWLYDGHQWURGHODFXOWXUDJHQHUDOGHODVR
FLHGDGHVODWHRUtDFRQRFLGDFRPR
D)XQFLRQDOLVWD
E(FROyJLFD
F6XEFXOWXUDO
/DWRWDOLGDGGHODVVDQFLRQHVSRVLWLYDV\QHJDWLYDVDODVTXHUHFXUUHXQD
VRFLHGDGSDUDDVHJXUDUODFRQIRUPLGDGGHODVFRQGXFWDVDORVPRGHORVHVWDEOHFL
GRVHVODGHILQLFLyQGH(GZDUG5RVVGH
D&RQWUROVRFLDO
E0DUJLQDOLGDG
F6RFLDOL]DFLyQ
$OHMHPSORGHLQFRQIRUPLVPRHQHOTXHHOLQGLYLGXRUHFKD]DWDQWRORVREMH
WLYRVFRPRORVPHGLRVSDUDFRQVHJXLUORVVLQWUDWDUGHVXVWLWXLUORVVHOHOODPD
D5LWXDOLVPR
E,QQRYDFLyQ
F5HWUDLPLHQWR
3DUDODSURWHFFLyQGHODVOLEHUWDGHVS~EOLFDV\ODVHJXULGDGOD&RQVWLWXFLyQ
HQFDUJDHVWDWDUHDD
D/DV)XHU]DV$UPDGDV
E7RGDODVRFLHGDG
F/RV&XHUSRV\)XHU]DVGH6HJXULGDG
(OLQFRQIRUPLVPRHV
D&DPELDUGHILQHVSHURQRGHPHGLRV
E(PSOHDURWURVPHGLRVSHURVHJXLUORVILQHVVRFLDOHV
8QDWHRUtDGHOLFWLYDHQWLHQGHTXHORVPLHPEURVVRFLDOHVQRGHOLQTXHQSRU
PLHGRDOFDVWLJRRDODGHVDSUREDFLyQVRFLDO'HTXpWHRUtDHVWDPRVKDEODQGR"
D'HORVFRQWDFWRVGLIHUHQFLDOHV
E'HHWLTXHWDMH
F'HOFRQWUROVRFLDO
3RGHPRVDILUPDUTXHORVGHOLWRV
D6RQLQPXWDEOHV
E9DUtDQHQHOWLHPSR\HQHOHVSDFLR
F6RQLQIUDFFLRQHVDGPLQLVWUDWLYDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$ODSRVLELOLGDGTXHWLHQHXQDSHUVRQDHQRUGHQDGHWHUPLQDUVXFRQGXFWD\
OOHYDUODDFDERHQFDGDVLWXDFLyQVHOHOODPD
D6HJXULGDGH[WHUQD
E3HUVRQDOLGDG
F/LEHUWDG
/DWHRUtDVREUHHOGHOLWRHQODTXHVHHVWDEOHFHXQDUHODFLyQGHFDXVDHIHF
WRHQWUHHOKRPEUH\HOHQWRUQRHVSDFLDOTXHORURGHDDJUXSiQGRVHORVGHOLWRVHQ
GHWHUPLQDGDV]RQDVGHODFLXGDGHVFRQRFLGDFRPR
D(FROyJLFD
E)XQFLRQDOLVWD
F'HOHWLTXHWDMH
6HJ~QODFODVLILFDFLyQGH0HUWRQORVWLSRVGHLQFRQIRUPLVPRVVRQ
D,QQRYDGRULGHDOLVWDULWXDOLVWD\SUHMXLFLRVR
E5HWUDtGRLGHDOLVWDSUHMXLFLRVR\ULWXDOLVWD
F5HWUDtGRULWXDOLVWDLQQRYDGRU\UHEHOGH
/DWHRUtDGHODDVRFLDFLyQGLIHUHQFLDOHQUHODFLyQFRQODGHOLQFXHQFLDIXH
IRUPXODGDSRU
D%XUJHVV
E6XWKHUODQG
F&RKHQ
6HJ~QGHWHUPLQDGDVHQFXHVWDVVHKDFRPSUREDGRTXHODWDVDVXEMHWLYDGH
YLFWLPL]DFLyQSHUPDQHFHJOREDOPHQWHHVWDEOHDXQTXHFRQJUDQGHVIOXFWXDFLRQHV
PiVRPHQRVFtFOLFDV(VWRVHGHEH
D$IDFWRUHVSROtWLFRV\VRFLDOHVPiVDODLQIOXHQFLDGHORVPHGLRVGHFRPXQLFDFLyQ
E$ODXPHQWRUHDOGHODWDVDREMHWLYDGHYLFWLPL]DFLyQ
F$SHULRGRVYDFDFLRQDOHV
(OUHFKD]RGHODVRFLHGDGDORVTXHKDQFXPSOLGRFRQGHQDMXGLFLDOSXHGH
HQFXDGUDUVHGHQWURGHOFRQFHSWRGH
D9LFWLPL]DFLyQWHUFLDULD
E,QMXVWLFLDVRFLDO
F'HVLJXDOGDGVRFLDO
(VSHFtILFDPHQWH OD OH\ UHODFLRQDGD FRQ OD FRQVHFXFLyQ \ SURWHFFLyQ GHO
RUGHQVRFLDOHQ(VSDxDVHGHQRPLQD
D&yGLJR3HQDO
E/H\GH(QMXLFLDPLHQWR&ULPLQDO
F/H\GH3URWHFFLyQGHOD6HJXULGDG&LXGDGDQD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HJ~QODFODVLILFDFLyQGH.UHWVFKPHUFyPRVHGHILQHDOFULPLQDOTXHGHFL
GHFRPHWHUXQFULPHQ\ORSODQHDPHWLFXORVD\GHWDOODGDPHQWHHQWRGDVVXVDFFLR
QHV\VLHVGHVFXELHUWRUHDFFLRQDLPSUHYLVLEOHPHQWH"
D/HSWRVRPiWLFR
E(VTXL]RWtPLFR
F&LFORWtPLFR
(QUHODFLyQFRQHOGHOLQFXHQWH
D/DPDUJLQDFLyQHVVLQyQLPRGHGHOLQFXHQFLD
E7RGRPDUJLQDGRHVXQGHOLQFXHQWH
F6HFRQVLGHUDDVtVHJ~QODVRFLHGDGHQTXHVHHQFXHQWUH
(OYDORUVRFLDO6HJXULGDGTXHGDHVWDEOHFLGRHQOD&RQVWLWXFLyQ(VSDxROD
SDUDFRQVHJXLUXQDFRQYLYHQFLDGHPRFUiWLFDHQ
D(O7tWXOR9,,,
E(O3UHiPEXOR
F(O7tWXOR,
8QD SHUVRQD HYDOXDGD FRPR LQDGDSWDGD SXHGH VHU PDUJLQDO \ GHOLQ
FXHQWH"
D1HFHVDULDPHQWHWLHQHTXHVHULR
E1RQHFHVDULDPHQWH
F6LHVLQDGDSWDGRVLHPSUHHVPDUJLQDO
8QDVSDXWDVGHFRPSRUWDPLHQWRTXHVHDSDUWDQGHODQRUPDSHURTXHLQGX
FHQDOFDPELRVRFLDO\SRVWHULRUPHQWHVRQDFHSWDGDVSOHQDPHQWHSRUODVRFLHGDG
DOVXSRQHUVHTXHFXPSOHQXQDIXQFLyQVRFLDOHV
D'HVYLDFLyQSULPDULD
E'HVYLDFLyQLQVWLWXFLRQDOL]DGD
F'HVYLDFLyQFXOWXUDO
/RVIDFWRUHVKHUHGLWDULRVFRPRFDXVDGHODGHOLQFXHQFLDVRQGHWLSR
D([yJHQR
E(QGyJHQR
F6RFLDO
(OGHOLQFXHQWHDPSOLDPHQWHFRQVLGHUDGR
D(VLGpQWLFRHQWRGRVORVJUXSRVVRFLDOHV
E(VVLHPSUHXQDSHUVRQDOLGDGHQIHUPD
F6yORH[LVWHFRQUHIHUHQFLDDXQJUXSRVRFLDOQRUPDWLYL]DGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/D%LRWLSRORJtD7HPSHUDPHQWDOIXHHVWDEOHFLGDSRU
D.UHWVFKPHU
E)HUUL
F%DQGXUD
(OULWXDOLVWDVHJ~Q0HUWRQHV
D(OTXHUHFKD]DODVPHWDV\ORVREMHWLYRVVRFLDOHV
E(OTXHDFHSWDODVPHWDVVRFLDOHVSHURQRVXVREMHWLYRV
F(OTXHDFHSWDORVPpWRGRVRPHGLRVVRFLDOHVSHURQRODVPHWDVVRFLDOHV
QLFDPHQWHODVGHVYLDFLRQHVGHFRQGXFWDTXHDIHFWHQDQRUPDVVRFLDOHV
MXUtGLFDPHQWHIRUPDOL]DGDVSXHGHQVHUFRQVLGHUDGDVFRPR
D&RQGXFWDLQDGDSWDGD
E&RQGXFWDPDUJLQDO
F&RQGXFWDGHOLFWLYD
(Q RUGHQ D VX SUHSRWHQFLD HO KRPEUH WUDWDUtD GH FXPSOLU SUHYLDPHQWH OD
QHFHVLGDG
D'HVHJXULGDGTXHGHKDPEUH
E3HUWHQHQFLDDOJUXSRTXHGHVHJXULGDG
F'HVHJXULGDGTXHGHGLJQLGDG
/DV )XHU]DV \ &XHUSRV GH 6HJXULGDG EDMR OD GHSHQGHQFLD GHO *RELHUQR
WHQGUiQFRPRPLVLyQSURWHJHUHOOLEUHHMHUFLFLRGHORVGHUHFKRV\OLEHUWDGHV\JD
UDQWL]DUODVHJXULGDGFLXGDGDQDVHJ~QHODUWtFXOR
DGHOD&RQVWLWXFLyQ
EGHOD/H\2UJiQLFDGH)XHU]DV\&XHUSRVGH6HJXULGDG
FGHOD&RQVWLWXFLyQ
/DDQRPLDVHJ~Q0HUWRQHV
D'HVDMXVWHHQWUHODVPHWDVVRFLDOHV\ORVPHGLRVDVXDOFDQFH
E$XVHQFLDGHQRUPDV
F(VWDGRGHUHYROXFLyQVRFLDO
$ YHFHV VH GHOLQTXH GH IRUPD WRWDOPHQWH FLUFXQVWDQFLDO VLQ TXH VH KD\D
SUHSDUDGRHOKHFKR\HQPXFKDVRFDVLRQHVVLQTXHVHYXHOYDDUHSHWLUHVWDDFFLyQ
(VWDH[SOLFDFLyQDOGHOLWRHQWUDGHQWURGHODWHRUtD
D6LWXDFLRQDO
E'HODVXEFXOWXUD
F'HOD(VFXHODGH&KLFDJR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HHQWLHQGHSRUYLFWLPL]DFLyQVHFXQGDULD
D/RVHIHFWRVGLUHFWRVGHOGHOLWRVREUHODVYtFWLPDV
E/RVSHUMXLFLRVDGLFLRQDOHVTXHHOVLVWHPDSROLFLDO\MXGLFLDOFDXVDQDODYtFWLPDGHXQGHOLWR
F/RVGDxRVPRUDOHVFDXVDGRVDORVDXWRUHVGHOGHOLWR
8QGHOLQFXHQWHTXHKDFHGHOGHOLWRVXPRGRGHYLYLUWUDWDQGRGHFRQVHJXLU
GHpOSRVLFLyQVRFLDO\ULTXH]DHVXQWLSRGHGHOLQFXHQWH
D+DELWXDODVRFLDO
E+DELWXDOSURIHVLRQDO
F2FDVLRQDO
/D8QLyQ(XURSHDKDHVWDEOHFLGRXQOLVWDGRGHFDUDFWHUtVWLFDVDOJXQDVGH
ODVFXDOHVGHEHUHXQLUXQDDVRFLDFLyQGHOLFWLYDSDUDTXHVHFRQVLGHUHFULPHQRUJD
QL]DGR6HxDOHFXiOGHODVVLJXLHQWHVQRVHHQFXHQWUDHQGLFKROLVWDGR
D-HUDUTXtDFRQWURO\GLVFLSOLQDGHQWURGHODRUJDQL]DFLyQ
E8VRGHHVWUXFWXUDVFRPHUFLDOHVRHPSUHVDULDOHV
F(OHYDGDIUHFXHQFLDGHDFWRVGHOLFWLYRV
/DVWHRUtDVGHOLFWLYDVGHQRPLQDGDVVRFLROyJLFDVVRQ
D(QGyJHQDV
E([yJHQDV
F*HQpWLFDV
/DIDOWDGHLQWHJUDFLyQODUHDOL]DFLyQGHUROHVGHYDOXDGRVODH[FOXVLyQVRFLDOJH
QHUDOPHQWHGHIRUPDLQYROXQWDULDVRQDOJXQDVGHODVFDUDFWHUtVWLFDVGHOFRQFHSWRGH
D'HVYLDFLyQVRFLDO
E'HOLQFXHQFLD
F0DUJLQDOLGDG
&XDOTXLHU WLSR GH FRPSRUWDPLHQWR TXH VH DOHMD GH ODV QRUPDV JHQHUDOPHQWH
DFHSWDGDVHQXQDVRFLHGDGDXQTXHQRVHDQWUDQVJUHVLRQHVDODOH\HVHOFRQFHSWRGH
D'HVYLDFLyQVRFLDO
E0DUJLQDOLGDG
F'HOLQFXHQFLD
/DSLUiPLGHGHQHFHVLGDGHVDFXPSOLPHQWDUSRUHOKRPEUHHQVRFLHGDG
VHGHEHD
D0HUWRQ
E0DVORZ
F.UHVWFKPHU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(VTXL]RIUHQLDV SDUDQRLDV GHPHQFLDV ROLJRIUHQLDV HWF VRQ PRWLYRV GH

GHOLQFXHQFLDFRQVLGHUDGRV
D6RFLRJHQpWLFRV
E)DFWRUHVHQGyJHQRV
F)DFWRUHVVHFQGDULRV
6LGHFLPRVGHHVWHWLSRGHGHOLQFXHQFLDTXHVXVPLHPEURVVHFDUDFWHUL]DQ
SRU XQD JUDYH LQDGDSWDFLyQ VRFLDO TXH VXV GHOLWRV QR VH FRUUHVSRQGHQ FRQ ORV
EHQHILFLRV REWHQLGRV TXH WLHQHQ XQ FRPSRQHQWH GH VXJHVWLRQDELOLGDG DPELHQWDO
HQFXDGUDGRHQODIHQRPHQRORJtDXUEDQDQRVHVWDPRVUHILULHQGR
D$ODGHOLQFXHQFLDMXYHQLO
E$ORVGHOLQFXHQWHVHVSRUiGLFRV
F$GHOLQFXHQWHVKDELWXDOHVDVRFLDOHV
/DGHOLQFXHQFLDSXHGHVHUXQDVDOLGDDSUREOHPDVSVLFROyJLFRVRULJLQDGRV
SRUXQDLQDFHSWDEOHUHODFLyQHQWUHORVPLHPEURVGHXQDIDPLOLDDPELHQWHIDPLOLDU
WHQVRIDOWDGHFDULxRDEDQGRQRRGHVSUHRFXSDFLyQHQODLQIDQFLD(QHVWHFDVR
KDEODPRVGHXQDWHRUtD
D6RFLRJHQpWLFD
E%LRJHQpWLFD
F3VLFRJHQpWLFD
$TXHOODVWHRUtDVTXHH[SOLFDQHOGHOLWRWHQLHQGRHQFXHQWDIDFWRUHVELROyJL
FRV\FLUFXQVWDQFLDOHVGHRULJHQVRFLDOWDOFRPRSXHGHVHUOD7HRUtDSOXULIDFWRULDO
VHHQFXDGUDQGHQWURGHOJUXSRGH
D7HRUtDV6RFLR3VLFRJHQpWLFDV
E7HRUtDV,QWHJUDGRUDV
F7HRUtDV%LROyJLFDV
$TXHOODWHRUtDVHJ~QODFXDOHVHOFRQWUROVRFLDOHOTXHFUHDODFULPLQDOLGDG
VLHQGRHQPXFKRVFDVRVORVGHOLQFXHQWHVYtFWLPDVGHXQDHUUyQHDDSOLFDFLyQGHO
PLVPRHVODWHRUtDFRQRFLGDFRPR
D'HO(WLTXHWDMH
E'HO&RQWURO6RFLDO
F6XEFXOWXUDO
/DWHRUtDVVRFLRJHQpWLFDVVRQWDPELpQOODPDGDV
D3VLFROyJLFDV
E(QGyJHQDV
F'HLQGLIHUHQFLDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&RQTXpWLSRGHODELRWLSRORJtDGH.UHVWFKPHUVHFRUUHVSRQGHXQPHVR
PRUIRGH6KHOGRP"
D$WOpWLFR
E/HSWRVRPiWLFR
F3tFQLFR
/DVWHRUtDVGH6KHOGRP\GH.UHWVFKPHUVHHQFXDGUDQGHQWURGHODVWHRUtDV
GHOLFWLYDVGHQRPLQDGDV
D%LROyJLFDV
E%LRJHQpWLFDV
'HQWURGHOHVWXGLRGHODGHVYLDFLyQGHFRQGXFWDODGHOLQFXHQFLDVHUtD
D8QDGHVYLDFLyQLQVWLWXFLRQDOL]DGD
E8QDGHVYLDFLyQJHQHUDOPHQWHGHJUXSR
F8QDIRUPDPX\SDUWLFXODU\UHOHYDQWHGHODGHVYLDFLyQ
4XpWLSRGHWHRUtDH[SOLFDWLYDGHOGHOLWRHVODHFROyJLFD"
D%LRJHQpWLFD
E6RFLRJHQpWLFD
F3VLFRJHQpWLFD
/DLQVHJXULGDGWDQWRDQLYHOLQGLYLGXDOFRPRFROHFWLYRLPSLGH
D(OGHVDUUROOR
E/DFRQYLYHQFLD
F/DVROLGDULGDG
/RVRUtJHQHVGHXQDLQDGDSWDFLyQSHUVRQDOGHEHQHQFRQWUDUVHIXQGDPHQ
WDOPHQWHHQ
D8QDJUDYHFDUHQFLDDIHFWLYD
E8QLQDGHFXDGRSURFHVRGHVRFLDOL]DFLyQ
(OWpUPLQRPDUJLQDOUHODWLYRDDTXHOODSHUVRQDTXHHVWiVLWXDGDDOPDUJHQ
GHODVRFLHGDGIXHXWLOL]DGRSRUSULPHUDYH]SRU
D7D\ORU
E'XUNKHLP
F3DUN

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DWHRUtDGHOLFWLYDTXHH[SOLFDHOGHOLWRHQUD]yQDTXHODSHUVRQDDSUHQGH
FRPSRUWDPLHQWRV QRUPDWLYRV \ GHOLFWLYRV DSOLFDQGRXQRV XRWURV VHJ~QYHDPiV
FRQYHQLHQWHDVXVLQWHUHVHVHVFRQRFLGDFRPR
D7HRUtDVXEFXOWXUDO
E7HRUtDGHORVFRQWDFWRVGLIHUHQFLDOHV
F7HRUtDHFROyJLFD
&XDQGRQRH[LVWHUHODFLyQDUPyQLFDGHOLQGLYLGXRFRQVXPHGLRQRVHQFRQ
WUDPRVDQWH
D/DLQWROHUDQFLD
E/DGHOLQFXHQFLDHQWRGRFDVR
F/DLQDGDSWDFLyQ
8QDFRQGXFWDHQODGLUHFFLyQGHXQFRPSRUWDPLHQWRGHVDSUREDGRLQIHULRUH
LQDGHFXDGRTXHHVWiSRUGHEDMRGHODVSDXWDVUHDOHVHVORTXHVHFRQRFHFRPR
D'HOLWR
E'HVYLDFLyQ1HJDWLYD
F'HVYLDFLyQ1HJDWLYDR3RVLWLYD
6L KDEODPRV GH XQD SHUVRQD GH DEGRPHQ SURPLQHQWH FDEH]D UHGRQGD \
DQFKD\WHQGHQFLDDODREHVLGDGHVWDPRVUHILULpQGRQRVDOELRWLSRWHPSHUDPHQWDO
GH.UHWVFKPHU
D3tFQLFR
E/HSWRVRPiWLFR
F$WOpWLFR
5HIHUHQWHDODVSROtWLFDVGHVHJXULGDGHQTXpWLSRGHDFFLyQVHKDFHFRQ
YHQLHQWHLPSOLFDUDORVFLXGDGDQRVHQODFRODERUDFLyQSROLFLDO"
D(QODDFFLyQSUHYHQWLYD
E(QODDFFLyQUHSUHVLYD
F(QDPEDV
4Xp OH\ FRQVLGHUD PiV HVSHFtILFD SDUD OD FRQVHFXFLyQ GH OD VHJXULGDG
FLXGDGDQD"
DGHGHIHEUHUR
EGHGHPDU]R
FGHGHDEULO
(QWRGDVRFLHGDGRUJDQL]DGDH[LVWHXQFLHUWRJUDGRGHGHOLWRFRQQDWXUDODOD
SURSLDHVHQFLDVRFLDO\KDVWDFRQYHQLHQWHHVXQDIUDVHTXHVHGHEHDOVLJXLHQWHDXWRU
D'XUNKHLP
E0HUWRQ
F6XWKHUODQG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OHIHFWRGHVXIULUGLUHFWDRLQGLUHFWDPHQWHXQGDxRFRQRFDVLyQGHKH
FKRVGHOLFWLYRVFRQGXFWDVGHVYLDGDVHDFFLGHQWHVIRUWXLWRVDFRQWHFLPLHQWRVYLR
OHQWRVRFDWiVWURIHVQDWXUDOHVHVHOFRQFHSWRGH
D,OtFLWRSHQDO
E,QVHJXULGDG
F9LFWLPL]DFLyQSULPDULD
8QD UHJOD XQLYHUVDO GH OD GHOLQFXHQFLD HV TXH pVWD HPSLH]D D FUHFHU D
PHGLGDTXHFUHFH
D/DVRFLHGDGWLHQHPiVPLHGR
E/DXUEDQL]DFLyQ
F/DUHSUHVLyQSROLFLDO
'HQWURGHODVWHRUtDVGHODFRQVHFXFLyQGHORUGHQXQDGHHOODVQRWLHQHHQ
FXHQWDDOLQGLYLGXRVLQRFRPRSURGXFWRVRFLDO6HWUDWDGH
D/DWHRUtDGHODDFHSWDFLyQGHYDORUHV
E/DWHRUtDGHODFRDFFLyQGHVGHHOSRGHU
F/DWHRUtDGHOLQWHUpVPXWXR
8QDWHRUtDSROtWLFDH[SOLFDODFRQVHFXFLyQGHORUGHQVRFLDOQHFHVDULRSRU
PHGLRGHXQDFXHUGRHQWUHHO(VWDGR\ORVFLXGDGDQRVTXHOHVRWRUJDFLHUWRVGHUH
FKRVDFDPELRGHDEDQGRQDUODOLEHUWDGGHODTXHGLVSRQGUtDQHQHVWDGRGHQDWXUD
OH]D&yPRVHFRQRFHHVWDWHRUtD
D(O&RQWUDWR6RFLDO
E/D&RDFFLyQGHVGHHOSRGHU
F'HOD$FHSWDFLyQGHYDORUHV
(OFRQWUROVRFLDOTXHHMHUFHQORVJUXSRVSULPDULRVGHXQDPDQHUDLQIRUPDO
\VLQULJLGHFHVQRUPDWLYDV
D(VPiVHILFLHQWH
E(VPX\LQFRPSOHWRHLQHILFD]
F/DVRFLHGDGVyORGLVSRQHGHOFRQWUROIRUPDOLVWDGHODVLQVWLWXFLRQHVRILFLDOHV
4XLpQVHFRQVLGHUDFRPRXQRGHORVSUHFXUVRUHVGHODVWHRUtDVGHOLFWLYDV
\FRQFUHWDPHQWHGHODVELRJHQpWLFDV"
D0HUWRQ
E/RPEURVR
F:HEHU
/D GHVYLDFLyQ HV XQ FRQFHSWR UHODWLYR HQ FXDQWR TXH GHSHQGH GH OR DVt
FRQVLGHUDGR
D(QFDGDVRFLHGDG
E(QFDGDWLHPSR\VLWXDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QDGHVYLDFLyQVHFRQVLGHUDGHOLWRFXDQGRVXDXWRUWUDVJUHGH
D&XDOTXLHUQRUPDVRFLDO
E6RODPHQWHFXDOTXLHUQRUPDMXUtGLFD
F6RODPHQWHFXDOTXLHUQRUPDSHQDO
6LFRPRFDXVDGHOGHOLWRVHFRQVLGHUDDXQDDOWHUDFLyQFURPRVyPLFDRD
ODSURSLDFRQVWLWXFLyQItVLFDGHXQDSHUVRQDHVWDPRVKDEODQGRGHWHRUtDV
D%LRJHQpWLFDV
E3VLFRJHQpWLFDV
F6RFLRJHQpWLFDV
(OQ~PHURGHSHUVRQDVDIHFWDGDVSRUGHOLWRVHQUHODFLyQFRQODSREODFLyQ
WRWDOGHOSDtVHV
D(OtQGLFHGHFUHFLPLHQWRGHOLFWLYR
E/DWDVDGHYLFWLPL]DFLyQ
F/DUD]yQGHGHOLQFXHQFLD
3DUD0HUWRQXQDSHUVRQDPX\LGHQWLILFDGD\FRQFLHQFLDGDFRQODFDOLGDG
GHOPHGLRDPELHQWHGHWDOPDQHUDTXHHMHUFHXQDDFWLWXGPX\DFWLYDHQFRQWUDGHO
GHVDUUROORLQGXVWULDOFXOSDEOHSDUDHOODGHOGHWHULRURPHGLRDPELHQWDOHV
D8QLQQRYDGRU
E8QUHEHOGH
F8QULWXDOLVWD
([LVWHXQDUHJODXQLYHUVDOTXHUHODFLRQDGLUHFWDPHQWHODGHOLQFXHQFLDFRQ
D(OLQFUHPHQWRGHXUEDQL]DFLyQ
E(OPD\RUtQGLFHGHMXYHQWXG
F(OLQFUHPHQWRGHOGHVDUUROOR
0HUWRQGHVDUUROOyODWHRUtDDQyPLFDHVWDEOHFLHQGRODVFDXVDVGHODGHVYLD
FLyQSRUODLQFRKHUHQFLDHQWUH
D2EMHWLYRV\PHGLRVVRFLDOHV
E'HVDUUROOR\SDUR
F$FWLWXGHV\DSWLWXGHV
6LGHFLPRVGHXQGHOLQFXHQWHTXHWLHQHXQDWRWDOIDOWDGHSUHSDUDFLyQ\
PHGLRVWpFQLFRVTXHREWLHQHSRFRVEHQHILFLRVHFRQyPLFRVGHORVPXFKRVKHFKRV
GHOLFWLYRVTXHFRPHWH\TXHQRSXHGHYLYLUGHOGHOLWRQRVHVWDPRVUHILULHQGRDO
D'HOLQFXHQWHSURIHVLRQDO
E'HOLQFXHQWHKDELWXDO
F'HOLQFXHQWHDVRFLDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OFRQWUROVRFLDOORFRQIRUPDQORVPHFDQLVPRVVRFLDOHVSDUDUHFRQGXFLUDO
FXPSOLPLHQWRGHODQRUPD'HVGHHVWHSXQWRGHYLVWDFyPRVHSRGUtDFDWDORJDUHO
FRQWUROVRFLDOTXHHMHUFHODSROLFtD"
D&RDFWLYR
E$PELJXR
F)RUPDO
([LVWHQGLVWLQWDVWHRUtDVVREUHODFRQVHFXFLyQGHORUGHQHQODVRFLHGDG
XQDGHODVFXDOHVFRQRFLGDSRUOD7HRUtDGHODFRDFFLyQGHWHUPLQDTXHHORUGHQ
QHFHVDULRHQWRGDVRFLHGDGKD\TXHLPSRQHUORDODIXHU]D&RQTXpDXWRULGHQWL
ILFDHVWDWHRUtD"
D+RREHV
E5RXVVHDX
F0HUWRQ
3DUDTXpDXWRUGHORVVLJXLHQWHVHOGHOLWRHVWitQWLPDPHQWHUHODFLRQDGR
FRQHODVSHFWRItVLFRGHODVSHUVRQDVGHWDOPDQHUDTXHVHSXHGHHVWDEOHFHUXQD
UHODFLyQHQWUHXQDGHWHUPLQDGDWLSRORJtDGHGHOLWRV\ODFRUUHVSRQGLHQWHFRQVWLWX
FLyQSVLFRItVLFDGHVXDXWRU"
D6XWKHUODQG
E0HUWRQ
F6KHOGRP
8QIDFWRUH[yJHQRFRPRFDXVDGHGHOLQFXHQFLDMXYHQLOHV
D(QIHUPHGDGHVPHQWDOHVWDOHVFRPRROLJRIUHQLDVHVTXL]RIUHQLDVHWF
E)UDFDVRHVFRODUFDUHQFLDVDIHFWLYDV
F7HPSHUDPHQWRLPSXOVLYR
/DSHUVRQDHQVXOLEHUWDGSXHGHYLRODUODVQRUPDVVRFLDOHV\ODVRFLHGDG
OH GD RSRUWXQLGDGHV SDUD HOOR 6LQ HPEDUJR HQ VX JUDQ PD\RUtD VH FRPSRUWD GH
PDQHUDQRUPDWLYD(OORHVGHELGRDOPLHGRDOFDVWLJRRDODGHVDSUREDFLyQVRFLDO
'HTXpWLSRGHWHRUtDGHOLFWLYDVHWUDWD"
D3VLFROyJLFD
E7HRUtDVLWXDFLRQDO
F'HOFRQWUROVRFLDO

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
F6RFLROyJLFDV
E1RQHFHVDULDPHQWH
E6RFLRHFRQyPLFRV
D(OGHVDUUROOR
F'HSHQGHQFLD
E9LFWLPL]DFLyQWHUFLDULD
D'HOLQWHUpVPXWXR
E7HRUtDGHODDFHSWDFLyQGHYDORUHV
D,QVHJXULGDGVXEMHWLYD
F/DVORVUHVSXHVWDVDQWHULRUHVVRQFRUUHFWDV
F9LFWLPL]DFLyQ
F&XPSOHFRQODVQRUPDVGHVXJUXSRSHURHVpVWHHOTXHWLHQHQRUPDVGHVYLDGDV
UHVSHFWRDODVRFLHGDGHQTXHHVWiLQPHUVR
F'HVYLDFLRQHVSRVLWLYDV
E1RUPDVRFLDOHVXQFRQFHSWRPiVDPSOLRTXHHOGHOH\
E$XWRULWDWLYRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F1DGDGHORDQWHULRUREOLJDWRULDPHQWH
F$VRFLDFLyQGLIHUHQFLDO
E$QRPLD
F(PLOH'XUNKHLP
D8QDDFFLyQUHSUHVLYD
D'HILFLHQWHVRFLDOL]DFLyQHQHOVHQRIDPLOLDU
F8QDLQVHJXULGDGREMHWLYD\RWUDVXEMHWLYD
D&UHDQLQVHJXULGDGVXEMHWLYDRYLUWXDO
D/DDXVHQFLDGHQRUPDV
D(VQRUPDOPHQWHLQYROXQWDULD
E5LWXDOLVWD
E6HJXULGDG
D,QQRYDGRU
F,QQRYDFLyQ
E/DYLROHQFLDGHVXVDFWRV
F6RFLRHFRQyPLFRV
F7DVDGHYLFWLPL]DFLyQ
F6HJXULGDG\OLEHUWDG
F3DUDTXHKD\DOLEHUWDGHVQHFHVDULRRUGHQ
D'XUNKHLP
F1LQJXQDWLHQHTXHVHUQHFHVDULDPHQWH
E7HRUtDGHOD$QRPLD
F$QRPLD
F6RFLDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F/DOLEHUWDGLQGLYLGXDOSHUPLWHHOFRQWUROGHODDUELWUDULHGDG
D0HGLDQWHODH[LVWHQFLDGHOGHUHFKR
D
D0HUWRQ
F/RDQWHULRU\PXFKRVRWURVDVSHFWRV
D$QRPLD
F6XEFXOWXUDO
D&RQWUROVRFLDO
F5HWUDLPLHQWR
F/RV&XHUSRV\)XHU]DVGH6HJXULGDG
F'HOFRQWUROVRFLDO
E9DUtDQHQHOWLHPSR\HQHOHVSDFLR
F/LEHUWDG
D(FROyJLFD
F5HWUDtGRULWXDOLVWDLQQRYDGRU\UHEHOGH
E6XWKHUODQG
D$IDFWRUHVSROtWLFRV\VRFLDOHVPiVDODLQIOXHQFLDGHORVPHGLRVGHFRPXQLFDFLyQ
D9LFWLPL]DFLyQWHUFLDULD
F/H\GH3URWHFFLyQGHOD6HJXULGDG&LXGDGDQD
D/HSWRVRPiWLFR
F6HFRQVLGHUDDVtVHJ~QODVRFLHGDGHQTXHVHHQFXHQWUH
E(O3UHiPEXOR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E1RQHFHVDULDPHQWH
E'HVYLDFLyQLQVWLWXFLRQDOL]DGD
E(QGyJHQR
F6yORH[LVWHFRQUHIHUHQFLDDXQJUXSRVRFLDOQRUPDWLYL]DGR
D.UHWVFKPHU
F(OTXHDFHSWDORVPpWRGRVRPHGLRVVRFLDOHVSHURQRODVPHWDVVRFLDOHV
F&RQGXFWDGHOLFWLYD
F'HVHJXULGDGTXHGHGLJQLGDG
DGHOD&RQVWLWXFLyQ
D'HVDMXVWHHQWUHODVPHWDVVRFLDOHV\ORVPHGLRVDVXDOFDQFH
D6LWXDFLRQDO
E/RVSHUMXLFLRVDGLFLRQDOHVTXHHOVLVWHPDSROLFLDO\MXGLFLDOFDXVDQDODYtFWLPD
GHXQGHOLWR
E+DELWXDOSURIHVLRQDO
F(OHYDGDIUHFXHQFLDGHDFWRVGHOLFWLYRV
E([yJHQDV
F0DUJLQDOLGDG
D'HVYLDFLyQVRFLDO
E0DVORZ
E)DFWRUHVHQGyJHQRV
D$ODGHOLQFXHQFLDMXYHQLO
F3VLFRJHQpWLFD
E7HRUtDV,QWHJUDGRUDV
D'HO(WLTXHWDMH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F'HLQGLIHUHQFLDFLyQ
D$WOpWLFR
F8QDIRUPDPX\SDUWLFXODU\UHOHYDQWHGHODGHVYLDFLyQ
E6RFLRJHQpWLFD
D(OGHVDUUROOR
F3DUN
E7HRUtDGHORVFRQWDFWRVGLIHUHQFLDOHV
F/DLQDGDSWDFLyQ
E'HVYLDFLyQ1HJDWLYD
D3tFQLFR
D(QODDFFLyQSUHYHQWLYD
DGHGHIHEUHUR
D'XUNKHLP
F9LFWLPL]DFLyQSULPDULD
E/DXUEDQL]DFLyQ
D/DWHRUtDGHODDFHSWDFLyQGHYDORUHV
D(O&RQWUDWR6RFLDO
D(VPiVHILFLHQWH
E/RPEURVR
F6RODPHQWHFXDOTXLHUQRUPDSHQDO
D%LRJHQpWLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E/DWDVDGHYLFWLPL]DFLyQ
E8QUHEHOGH
D(OLQFUHPHQWRGHXUEDQL]DFLyQ
D2EMHWLYRV\PHGLRVVRFLDOHV
F'HOLQFXHQWHDVRFLDO
F)RUPDO
D+RREHV
F6KHOGRP
E)UDFDVRHVFRODUFDUHQFLDVDIHFWLYDV
F'HOFRQWUROVRFLDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'52*2'(3(1'(1&,$6&21&(3726'('52*$&21680,'25
0e72'26'($'0,1,675$&,1$',&&,1'(3(1'(1&,$72/(5$1&,$
32/,72;,&20$1$6&/$6,),&$&,1'(/$6'52*$6
(,/6'HVXQ
D$OXFLQyJHQR
E6HGDQWH
F&DQQiELFR
8QWLSRGHGURJDGHSUHVLYDHV
D&RFDtQD
E+HURtQD
F&UDFN
/RVIiUPDFRVRGURJDVFRQVLGHUDGRVEDUELW~ULFRVWLHQHQXQRVHIHFWRV
D(VWLPXODQWHV\DOXFLQyJHQRV
E$OXFLQyJHQRV
F+LSQyWLFRV\VHGDQWHV
(OVtQGURPHGHDEVWLQHQFLDTXpWLSRGHVtQWRPDVSURGXFH"
D)tVLFRV
E3VtTXLFRV
F3VtTXLFRV\ItVLFRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
5HIHUHQWHDORVEDUELW~ULFRVODUHVSXHVWDFRUUHFWDHV
D6RQGHULYDGRVGHORSLRTXHVLUYHQSDUDGRUPLU
E7LHQHQHIHFWRVHVWLPXODQWHV\DOXFLQyJHQRV
F3XHGHQVHULQJHULGRVSDUDILQHVPpGLFRVHQGRVLVSHTXHxDV
/DKHURtQDPH]FODGDFRQFRFDtQDUHFLEHHOQRPEUHGH
D6SHHGEDOO
E)LUHEDOO
F&DEDOOR
4XpHVHOOODPDGR7ULiQJXORGRUDGR"
D/DPH]FODGHWUHVVXVWDQFLDVHVWXSHIDFLHQWHV
E8QHVWDGRGHiQLPRDOTXHVHDOFDQ]DFRQXQDVGRVLVGHGHWHUPLQDGRSURGXFWR
F8QD]RQDGHSURFHGHQFLDGHORSLR
/DGLIHUHQFLDFLyQHQWUHHVWXSHIDFLHQWHV\VXVWDQFLDVSVLFRWUySLFDVVHGHEHD
D8QDGLYLVLyQHQUHODFLyQFRQORVHIHFWRVGHGLVWLQWDVVXVWDQFLDV
E8QDGLYLVLyQGHODVGURJDVHQDWHQFLyQDVXILVFDOLGDG
F'URJDVGHRULJHQQDWXUDORVLQWpWLFR
(OEDVXFRHV
D/DFRPELQDFLyQHQWUHKHURtQD\DQIHWDPLQDV
E8QHIHFWRItVLFRTXHVHSURGXFHFRQHOFRQVXPRGHGHWHUPLQDGDVVXVWDQFLDV
F8QGHULYDGRGHODKRMDGHFRFD
8QR GH ORV VLJXLHQWHV SURGXFWRV QR WLHQH UHODFLyQ DOJXQD FRQ OD SODQWD
DGRUPLGHUD
D0RUILQD
E&UDFN
F0HWDGRQD
/DUHDSDULFLyQGHODQHFHVLGDGGHFRQVXPLUXQWLSRGHGURJDSRUSDUWHGH
XQLQGLYLGXRTXHGHMyGHFRQVXPLUODSHURTXHTXHGDH[SXHVWRDXQDPELHQWHVLPLODU
DOTXHHQWRQFHVWHQtDVHFRQRFHFRPR
D6tQGURPHGHDEVWLQHQFLDFRQGLFLRQDGR
E6tQGURPHGHDEVWLQHQFLDDJXGR
F6tQGURPHGHDEVWLQHQFLDWDUGtR
8QDVXVWDQFLDSVLFRGLVOpSWLFDHVXQ
D$OXFLQyJHQR
E'HSUHVRU
F(VWLPXODQWH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
0'0$HVODVXVWDQFLDFRQRFLGDFRPR
D0HVFDO
E&UDFN
Fe[WDVLV
4XpVXVWDQFLDGHODVVLJXLHQWHVVHXVDFRPRVXVWLWXWLYRGHODKHURtQDHQ
ORVSURFHVRVGHGHVLQWR[LFDFLyQGHHVWD~OWLPD"
D5RKLSQRO
E0HWDGRQD
F9DOLXP
(ORUJDQLVPROOHJDDDFRVWXPEUDUVHDODSUHVHQFLDGHGHWHUPLQDGDVGURJDV
GHWDOIRUPDTXHSDUDREWHQHUHOHVWDGRGHVHDGRVHKDFHQHFHVDULRXQFRQVXPRPiV
IUHFXHQWHRPD\RUGRVLVGHDGPLQLVWUDFLyQ(VWHHIHFWRGHODVGURJDVVHOODPD
D6tQGURPHGHDEVWLQHQFLD
E'HSHQGHQFLDItVLFD
F7ROHUDQFLD
6HFRQVXPHJHQHUDOPHQWHSRUYtDRUDOHQIRUPDGHSDVWLOODV
D/DVDQIHWDPLQDV
E(O/6'
F(OSH\RWH
(O3ROYRGHQJHOVHFRQRFHWDPELpQFRPR
D/6'
E3&3
F0'0$
&XiOGHORVVLJXLHQWHVSURGXFWRVFRQWLHQHPD\RUSRUFHQWDMHGHSULQFLSLR
DFWLYR"
D/DPDULKXDQD
E(OKDFKtV
F(ODFHLWHGHKDFKtV
&yPR VH GHQRPLQD HO HIHFWR GH DOJXQD GURJD VHJ~Q HO FXDO KDELHQGR
WUDQVFXUULGRWLHPSRGHVGHVXLQJHVWLyQSXHGHYROYHUDWHQHUVHXQDYLYHQFLDVHPD
QDVGHVSXpVGHVXLQJHVWD"
E6tQGURPHGH(VWRFROPR
F)ODVKEDFN
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&yPRSRGHPRVFDWDORJDUDORVLQKDODEOHV"
D&RPRGHSUHVRUHV
E&RPRHXIRUL]DQWHV
F&RPRHVWLPXODQWHV
(O'HOLULXPWUHPHQVHVSURSLRGHXQDJUDYHLQWR[LFDFLyQ
D3RUFRFDtQD
E3RUDOXFLQyJHQRV
F$OFRKyOLFD
'HTXpSDUWHGHODSODQWDFDQQiELFDRGHTXpIRUPDVHREWLHQHHOSURGXF
WRFRQRFLGRFRPRKDFKtV"
D'HODGHVWLODFLyQGHODSODQWD
E'HODUHVLQD\IORUHVGHODSODQWD
F'HODSODQWDGHVHFDGD\SLFDGD
6HxDOHODGURJDTXHKDVLGRXWLOL]DGDFRPRDQHVWpVLFR
D/DPRUILQD
E(O3&3
F/RVGRVDQWHULRUHV
'HODVVLJXLHQWHVGURJDVFXiOVHDGPLQLVWUDPDVWLFiQGROD"
D/DVKRMDVGHFRFD
E(O3&3
F/DVGRVDQWHULRUHV
8QDVVXVWDQFLDVPX\GHPRGDHQQXHVWURSDtVFX\RFRQVXPRVHDVRFLDD
ILHVWDVGHHQRUPHGXUDFLyQFRQJUDQDSDUDWRPXVLFDO\YLVXDOVRQ
D/RVEDUELW~ULFRV
E(O/6'
F(Op[WDVLV
7RGDVXVWDQFLDTXHLQWURGXFLGDHQXQRUJDQLVPRYLYRSXHGDPRGLILFDUXQDR
PiVIXQFLRQHVGHpVWHHVODGHILQLFLyQGDGDSRUOD206SDUDHOFRQFHSWRGH
D'URJD
E'HSHQGHQFLD
F$OFDORLGH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q UHODFLyQ FRQ ODV GURJDV OD GLIHUHQFLD HQWUH ORV FRQFHSWRV KiELWR \
DGLFFLyQHVWULEDHQTXH
D/DDGLFFLyQDODGURJDHVHOHVWDGRPiVSHUMXGLFLDOGHHVWDVVLWXDFLRQHV
E7DQWRHOKiELWRFRPRODDGLFFLyQWLHQHQODVPLVPDVFRQQRWDFLRQHVSHUMXGLFLDOHV
F/DDGLFFLyQHVXQFRQFHSWRPHQRVGDxLQRTXHHOKiELWR
/DVKRMDVGHFRFDRORVKRQJRVVRQDPEDVGURJDV
D$OXFLQyJHQDV
E/HJDOHV
F1DWXUDOHV
8QDGHODVVLJXLHQWHVVXVWDQFLDVQRWLHQHHIHFWRVSDUDTXHSXHGDFDWDOR
JiUVHODFRPRGURJD
D/D%HQFLQD
E/D3VLORFLELQD
F/DVGRVDQWHULRUHVSXHGHQFDWDORJDUVHDVt
$ODVXVWDQFLDVLQWHWL]DGDSRUORVODERUDWRULRV6DQGR]FRPR/6'VHOH
SXVRHVHQ~PHURHQDWHQFLyQDTXH
D)XHURQORVFLHQWtILFRVTXHODGHVFXEULHURQ
E6RQORVFRPSXHVWRVTXHODIRUPDQ
F)XHHOSURGXFWRVLQWHWL]DGRHQGLFKRVODERUDWRULRV
$TXHOODVSHUVRQDVTXHLQWHUPLWHQWHPHQWHXVDQODGURJDVLQTXHVHOOHJXH
DFUHDUHQHOODVXQDGHSHQGHQFLDItVLFDRSVtTXLFDSHURODFRQVXPHQFDGDYH]TXH
RFXUUHDOJ~QHYHQWRXQWDQWRHVSHFLDOOD206ODVFDWDORJDFRPR
D0DUJLQDO
E&RQVXPLGRUHVSRUiGLFR
F'URJDGLFWR
4XpFDWDORJDFLyQFRPRGURJDUHFLELUtDHOEHQFHQR"
D(OEHQFHQRQRHVQLQJ~QWLSRGHGURJD
E3VLFRDQDOpSWLFR
F'HSUHVRU
(OHVWDGRGHXQDSHUVRQDFRQVXPLGRUDGHGURJDVTXHVHFDUDFWHUL]DSRUXQ
GHVHRQRFRPSXOVLYRGHFRQVXPLUODGURJDVLQWHQGHQFLDDDXPHQWDUODVGRVLV\
FX\DDEVWLQHQFLDQRDFRPSDxDHIHFWRVVHFXQGDULRVItVLFRVHV
D+iELWR
E7R[LFRPDQtD
F$GLFFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6yORVHFRQVLGHUDUiTXHH[LVWHGHSHQGHQFLDDXQDGHWHUPLQDGDGURJDSRU
SDUWHGHXQFRQVXPLGRUVLSUHVHQWDODVLJXLHQWHFDUDFWHUtVWLFD
D'HVHRLQWHQVRRYLYHQFLDGHXQDFRPSXOVLyQDFRQVXPLUXQDVXVWDQFLD
E'LVPLQXFLyQGHODFDSDFLGDGSDUDFRQWURODUHOFRQVXPRGHXQDVXVWDQFLD
F/RVGRVDQWHULRUHVVRQVtQWRPDVGHGHSHQGHQFLD
/D QHFHVLGDG GH DXPHQWDU OD GRVLV GH XQD GHWHUPLQDGD VXVWDQFLD Wy[LFD
SDUDSRGHUVHQWLUVXVHIHFWRVHVHOFRQFHSWRGH
D'HSHQGHQFLD
E7R[LFRPDQtD
F7ROHUDQFLD
(Op[WDVLVHVWiFDWDORJDGRSRUOD206FRPR
D3VLFRWUySLFR
E(VWXSHIDFLHQWH
F1DUFyWLFR
/DDSDULFLyQGHODVLQWRPDWRORJtDWtSLFDGHXQVtQGURPHGHDEVWLQHQFLDDJX
GRHQXQLQGLYLGXRTXH\DQRFRQVXPHDOVHUH[SXHVWRDORVHVWtPXORVDPELHQWDOHV
TXHPDQWHQtDGXUDQWHVXHWDSDGHSHQGLHQWHHV
D6tQGURPHGHDEVWLQHQFLDDJXGR
E6tQGURPHGHDEVWLQHQFLDWDUGtR
F6tQGURPHGHDEVWLQHQFLDFRQGLFLRQDGR
/DUHVLVWHQFLDGHORUJDQLVPRDORVHIHFWRVGHODGURJDTXHREOLJDDXQFRQ
VXPRGHODPLVPDFDGDYH]PD\RUSDUDREWHQHUORVPLVPRVUHVXOWDGRVHVVX
D+DELWXDOLGDG
E7ROHUDQFLD
F'HSHQGHQFLD
/DVGURJDVFRQRFLGDVFRPR6SHHGROD3&3HVWiQFDWDORJDGDVFRPR
D,QVWLWXFLRQDOL]DGDV
E1DWXUDOHV
F6LQWpWLFDV
/DFDWDORJDFLyQGHXQDPLVPDVXVWDQFLDFRPRGURJDYHQHQRPHGLFDPHQ
WRGHSHQGHGH
D6XIRUPDGHDGPLQLVWUDFLyQ
E/DLQWHQFLRQDOLGDGGHVXLQJHVWD
F/DQDWXUDOH]DGHFDGDSHUVRQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHODSDUHMDGHGURJDVTXHWHQJDHVWUHFKDUHODFLyQ
D+HURtQD\FRFDtQD
E0RUILQD\/6'
F&UDFN\FRFDtQD
/DVSDVWLOODVGHQRPLQDGDVe[WDVLVVRQ
D'HULYDGDVGHORSLR
E(VWLPXODQWHV
F3VLFROpSWLFRV
'HOD3DSDYHUVRPQLIHUXPVHREWLHQH
D/DPDULKXDQD
E/DFRFDtQD
F(ORSLR
(OPD\RU\PHMRUDQDOJpVLFRDXQTXHFRQIXHUWHSRGHUDGLFWLYRHV
D/DFRFDtQD
E/DPRUILQD
F/DDQIHWDPLQD
(QHODUJRWGHODGURJDDOKHFKRGHDGXOWHUDUXQDVXVWDQFLDFRQRWUDVJH
QHUDOPHQWHSDUDKDFHUODPiVUHQWDEOHDORVWUDILFDQWHVVHOODPD
D&RUWDUODGURJD
E0H]FODUOD
F5HEDMDUOD
/DFRGHtQDODWHEDtQDODQDUFRWLQDVRQDOFDORLGHV
D'HODFRFD
E'HOFDQQDELV
F'HORSLR
/DGURJDFRQRFLGDFRPRp[WDVLVWDPELpQVHFRQRFHSRUODVVLJODVGHVX
FRPSRVLFLyQ
D/6'
E3&3
F0'0$
&XiOHVHOSULQFLSLRDFWLYRGHODSODQWD&DQQDELVVDWLYD"
D7+&
E3&3
F0'0$
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOGHODVVLJXLHQWHVGURJDVWLHQHHQWUHVXVHIHFWRVHOOODPDGRIODVK
EDFN"
D/DKHURtQD
E/DFRFDtQD
F(O/6'
/D IHQFLFOLGLQD HO SH\RWH DOJXQRV KRQJRV OD PHVFDOLQD VRQ VXVWDQFLDV
FRQVLGHUDGDV
D$OXFLQyJHQDV
E'HSUHVRUDV
F(VWLPXODQWHV
6LDXQDVGHWHUPLQDGDVVXVWDQFLDVVHODVFRQRFHHQHODUJRWGHODGURJD
FRPR3DVWDV1HPEXV0XxHFDVHWFVHHVWiQUHILULHQGRD
D2SLiFHRV
E%DUELW~ULFRV
F$QIHWDPLQDV
'HTXpSURGXFWRRSODQWDVHREWLHQHODPRUILQD"
D'HODKHURtQD
E'HOFDQQDELVVDWLYD
F'HOD3DSDYHUVRPQLIHUXP
&XiOHVGHORVVLJXLHQWHVSURGXFWRVVHFRQRFHSRSXODUPHQWHFRPRFKR
FRODWH"
D(OKDFKtV
E(ODFHLWHGHKDFKtV
F/DPDULKXDQD
6L KDEODPRV GH XQD GURJD FX\RV HIHFWRV VRQ HVTXL]RIUHQLDV DWDTXHV GH
SiQLFRVHQVDFLyQGHJUDQSRGHUWDOFRPRFDSDFLGDGSDUDSDUDUXQWUHQRYRODUQRV
HVWDPRVUHILULHQGRD
D/DVDQIHWDPLQDV
E/DFRFDtQD
F(O/6'
7LHQHPiVGHSHQGHQFLDSVtTXLFDTXHItVLFD
D/DFRFDtQD
E/DKHURtQD
F(ODOFRKRO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3XHGHQSURGXFLUWROHUDQFLDFUX]DGDHOVLJXLHQWHSDUGHGURJDV
D$OFRKRO\EHQ]RGLDFHSLQDV
E&RFDtQD\KHURtQD
F$OFRKRO\KDFKtV
4XpGLIHUHQFLDH[LVWHHQWUHXQFRQVXPLGRUH[SHULPHQWDO\XQFRQVXPLGRU
HVSRUiGLFR"
D1LQJXQD\DTXHDPERVWpUPLQRVVRQLGpQWLFRV
E(OSULPHURQRSUHVHQWDGHSHQGHQFLDItVLFDDOJXQD\HOVHJXQGRVt
F(OVHJXQGRVLQHVWDUHQJDQFKDGRDODGURJDODFRQVXPHFRQFLHUWDKDELWXDOLGDG\
HOSULPHURVyORFRPRH[SHULHQFLD
(OIHQyPHQRSRUHOTXHFXDQGRVHWRPDXQDGURJDDSDUHFHWROHUDQFLDQR
VyORDHVDGURJDVLQRWDPELpQDRWUDVGHOPLVPRWLSRRDYHFHVGHRWURFRQWH[WR
KDFHUHIHUHQFLDD
D/DVSROLWR[LFRPDQtDV
E/DWROHUDQFLDFUX]DGD
F(OVtQGURPHGHDEVWLQHQFLD
(O5RKLSQROVHSXHGHFDWDORJDUFRPRXQ
D2SLiFHR
E&DQQiELFR
F7UDQTXLOL]DQWH
/DPHWDGRQDHV
D8QRSLiFHRVLQWpWLFR
E8QEDUELW~ULFR
F8QLQKDODQWH
7RGRDJHQWHTXtPLFRTXHDIHFWDDOFHUHEUR\DOVLVWHPDQHUYLRVRFHQWUDODO
WHUDQGRORVVHQWLPLHQWRVODFRQFLHQFLD\ODVHPRFLRQHVGHIRUPDVGLYHUVDVUHFLEH
JHQpULFDPHQWHODGHQRPLQDFLyQGH
D1DUFyWLFRRHVWXSHIDFLHQWH
E'HSUHVRU
F3VLFRWUySLFR
(OHVWDGRGHLQWR[LFDFLyQFUyQLFDTXHSURGXFHHOXVRFRQWLQXDGRGHXQGH
WHUPLQDGRWLSRGHGURJDTXHOOHYDDXQGHVHRLQFRQWURODGRGHFRQWLQXDUWRPiQGROD
FRQWHQGHQFLDDDXPHQWDUODGRVLVHVHOFRQFHSWRGH
D+iELWR
E'HOLULXPWUHPHQV
F7R[LFRPDQtD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DQHFHVLGDGGHFRQVXPLUFLHUWDVXVWDQFLDSDUDDOFDQ]DUVHQVDFLRQHVSOD
FHQWHUDVRELHQHOLPLQDUVHQVDFLRQHVGLVSODFHQWHUDVGHULYDGDVGHODSULYDFLyQGHOD
VXVWDQFLDHVHOFRQFHSWRFRQRFLGRFRPR
D+iELWR
E&RQVXPR
F'URJRGHSHQGHQFLD
3RGHPRVGHFLUTXHHOFRQVXPLGRUKDELWXDOGHDOJ~QWLSRGHGURJDWLHQHGH
SHQGHQFLDDHOODFXDQGR
D&RPLHQFHDQRWHQHURWUDVIXHQWHVGHSODFHURGLYHUVLyQ
E$SHVDUGHFRQRFHUVXVHIHFWRVSHUMXGLFLDOHVSHUVLVWDHQVXFRQVXPR
&XDQGR HQ HO HVWDGR GH GHSHQGHQFLD D XQD VXVWDQFLD DSDUHFHQ LQWHQVRV
WUDVWRUQRVItVLFRV\SVtTXLFRVVLVHLQWHUUXPSHVXDGPLQLVWUDFLyQKDEODPRVGH
D+iELWR
E7ROHUDQFLD
F6tQGURPHGHDEVWLQHQFLD
(OFRQMXQWRGHVtQWRPDV\VLJQRVTXHDSDUHFHQHQXQDSHUVRQDGHSHQGLHQWH
GHXQDGURJDFXDQGRGHMDEUXVFDPHQWHGHFRQVXPLUODRODFDQWLGDGFRQVXPLGDHV
LQVXILFLHQWHVHFRQRFHFRPR
E7ROHUDQFLDGHODGURJD
F'HSHQGHQFLDItVLFDGHODGURJD
4Xp HIHFWRV GH XQ VtQGURPH GH DEVWLQHQFLD VRQ PiV IiFLOHV GH WUDWDU \
HOLPLQDU"
D/RVHIHFWRVItVLFRV
E/RVHIHFWRVSVtTXLFRV
F/RVGRVVRQIiFLOHVGHWUDWDU
/RVFDQQiELFRVVHSXHGHQFRQVLGHUDUXQJUXSRGHGURJDVFDWDORJDGDVFRPR
D1DWXUDOHV
E6HPLVLQWpWLFDV
F(XIRUL]DQWHV
6HxDOHHQWUHODVVLJXLHQWHVFXiOGHHOODVHVXQDVXVWDQFLDGHSUHVRUD
D&RFDtQD
E+HURtQD
F$QIHWDPLQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHGHODVVLJXLHQWHVFXiOGHHOODVQRHVVXVWDQFLDGHSUHVRUD
D%DUELW~ULFRV
E2SLiFHRV
F&DQQiELFRV
(VXQDOXFLQyJHQRODVLJXLHQWHVXVWDQFLD
D3&3
E&UDFN
F+HURtQD
(QFXiOGHODVVLJXLHQWHVVXVWDQFLDVVXLQJHVWDJHQHUDOPHQWHVHUHDOL]D
SRUWRPDVHQIRUPDGHGLEXMRVVREUHXQSDSHO"
D(Op[WDVLV
E(OFUDFN
F(O/6'
&yPRVHFRQVXPHJHQHUDOPHQWHHOFUDFN"
D(VQLIDGR
E)XPDGR
F,Q\HFWDGR
'HGyQGHVHH[WUDHGLUHFWDPHQWHODKHURtQD"
D'HODSODQWDDGRUPLGHUD
E'HORSLR
F'HODPRUILQD
+DFH TXH WH PDQWHQJDV GHVSLHUWR SURGXFH DJUHVLYLGDG \ KDFH TXH FXDO
TXLHUFRVDWHPROHVWH(VWDPRVKDEODQGRGHODGRJDFRQRFLGDFRPR
D+HURtQD
E&RFDtQD
F+DFKtV
6,GHFLPRVGHHOODTXHHODJXDSRWHQFLDVXVHIHFWRV\TXHVHGHEHEHEHU
DOUHGHGRUGHGHOLWURGHDJXDSDUDHYLWDUODGHVKLGUDWDFLyQVLHVWiVEDLODQGR\
TXHHODOFRKROSRWHQFLDODGHVKLGUDWDFLyQKDEODPRVGH
D&RFDtQD
E+DFKtV
Fe[WDVLV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'LVWRUVLRQDQODSHUFHSFLyQWiFWLODXGLWLYD\YLVXDOVXHIHFWRQRVHSXHGH
SDUDU\SXHGHGXUDUKDVWDGRFHKRUDVWRPDQGRXQWUR]RPX\SHTXHxRVHFRQVXPH
XQDJUDQFDQWLGDGGHVXVWDQFLD1RVHVWDPRVUHILULHQGRD
D/RVRSLiFHRV
E/RVEDUELW~ULFRV
F(O/6'
5HODFLRQDQGRODDGLFFLyQDXQDGURJD\ODGHSHQGHQFLDItVLFDXQDGHODV
UHVSXHVWDVHVIDOVD
D$OJXQDVVXVWDQFLDVQRFDXVDQDGLFFLyQSHURVtSURYRFDQGHSHQGHQFLDItVLFD
E$OJXQDVVXVWDQFLDVQRSURYRFDQGHSHQGHQFLDItVLFDSHURVtFDXVDQDGLFFLyQ
F1LQJXQDGHODVDILUPDFLRQHVDQWHULRUHVHVFRUUHFWD
(V XQ DQDOJpVLFR PX\ SRWHQWH TXH SURGXFH VHQWLPLHQWRV GH DQVLHGDG \
QHUYLRVLVPRFXDQGRSDVDQVXVHIHFWRV\TXHGLVPLQX\HORVGHVHRVVH[XDOHVGUiV
WLFDPHQWH(VWRVVRQORVHIHFWRVGH
D/RVEDUELW~ULFRV
E/DKHURtQD
F/DFRFDtQD
'HFLPRVGHHOORVTXHVRQVXVWDQFLDVOHJDOHVDODVTXHIiFLOPHQWHSRGHPRV
DFFHGHUFX\RFRQVXPRSURGXFHXQDJUDQH[FLWDFLyQ\DJUHVLYLGDG\SRVWHULRUPHQ
WHXQDJUDQVRPQROHQFLD1RVUHIHULPRVD
D/RVLQKDODQWHV
E/RVRSLiFHRV
F(OKDFKtV
&XDQGRGHFLPRVTXHHORUJDQLVPRVHKDKDELWXDGRDODSUHVHQFLDGHGURJD
\QHFHVLWDPDQWHQHUXQGHWHUPLQDGRSRUFHQWDMHGHHOODSDUDIXQFLRQDUFRQQRUPD
OLGDGHVWDPRVKDEODQGRGH
D'HSHQGHQFLDItVLFD
E'HSHQGHQFLDSVtTXLFD
F7ROHUDQFLD
/D OODPDGD KHURtQD EDVH R 7VDRWD SURFHGHQWH GHO VXGHVWH DVLiWLFR HV
IiFLOPHQWHFRQYHUWLEOHWUDVORVRSRUWXQRVSURFHVRVTXtPLFRVHQKHURtQDGHPD\RU
FDOLGDG&yPRVHGHQRPLQDDHVWHWLSRGHKHURtQD"
D+HURtQDQ~PHUR
E+HURtQDQ~PHUR
F+HURtQDQXPHUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HGLFHGHHVWDGURJDTXHHVHOp[WDVLVOtTXLGRDXQTXHQDGDWLHQHTXHYHU
FRQHO0'0$\DTXHDXQTXHFRQDOJ~QHIHFWRSVLFRGLVOpSWLFR\HVWLPXODQWHEiVL
FDPHQWHHVXQDVXVWDQFLDGHSUHVRUD1RVHVWDPRVUHILULHQGRD
D3RSSHUV
E*+%
F&UDFN
(VXQDGURJDTXHVHSUHVHQWDHQIRUPDGHOtTXLGRLQFRORURHLQRGRUR\TXH
HVXWLOL]DGREiVLFDPHQWHSDUDDXPHQWDUHOSODFHUVH[XDO
D*+%
E%HQFHQR
F3RSSHUV
&XiOGHODVVLJXLHQWHVGURJDVVHSXHGHFRQVLGHUDUFRPRXQDOXFLQyJHQR"
D.HWDPLQD
E*+%
F3RSSHUV
&XiOHVODGURJDPiVFRQVXPLGDDQLYHOPXQGLDO"
D/DFRFDtQD
E/DKHURtQD
F(OKDFKtV
$GRVLVEDMDVVXVHIHFWRVVRQSDUHFLGRVDXQDERUUDFKHUDGHDOFRKRO\D
GRVLVDOWDVVHSURGXFHXQYLDMHSVLFRGpOLFRPX\IXHUWHFRQGHOLULRV\SpUGLGDGHOD
QRFLyQGHOWLHPSR6XGHSHQGHQFLDSVLFROyJLFDHVPX\DOWD\HORUJDQLVPRSUHVHQWD
LJXDOPHQWHDOWDWROHUDQFLD1RVUHIHULPRVDODGURJDGHQRPLQDGD
D,QKDODQWHV
E.HWDPLQD
F3H\RWH
/DFRQGXFWDDGLFWLYDHQODTXHVHSURGXFHHOFRQVXPRGHP~OWLSOHVGURJDV
FRQYtDVGHDGPLQLVWUDFLyQGLIHUHQWHVRVLPXOWiQHDVVHGHQRPLQD
D$GLFFLyQ
E3ROLWR[LFRPDQtD
F7ROHUDQFLD
6XFRQVXPRVHUHDOL]DSRUYtDRUDOFRQ]XPRVRDJXDVLQJDVSHURQXQFD
FRQDOFRKROQRVUHIHULPRVDO
D/6'
E2SLR
Fe[WDVLV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6RQKLSQyWLFRV
D/RVEDUELW~ULFRV
E0RUILQDKHURtQDFRGHtQD
F0HVFDOLQDKDFKtVFRFDtQDKHURtQD
6LGHFLPRVTXHGHVXFRQVXPRFRQWLQXDGRVHGHULYDXQDSpUGLGDGHFRQWURO
DJUHVLYLGDGFRPSXOVLyQDWRPDUODGURJDQHJDFLyQGHODH[LVWHQFLDGHOFRQVXPRR
GHORVSUREOHPDVGHULYDGRVQRSURGXFHSUiFWLFDPHQWHGHSHQGHQFLDItVLFDSHURVt
SVLFROyJLFDHVWDPRVKDEODQGRGH
D/DKHURtQD
E(ODOFRKRO
F/DFRFDtQD
4XpQRPEUHUHFLEHWDPELpQOD+HURtQDQ"
D7DLODQGHVD
E+HURtQDEDVH
F%URZQ6XJDU
4XpGURJDHVFRQRFLGDSRSXODUPHQWHFRPRSHULFRIDUORSDRQLHYH"
D(OKDFKtV
E/DKHURtQD
F/DFRFDtQD
/DKHURtQDFRQRFLGDSRSXODUPHQWHFRPRWDLODQGHVDSRUVXJUDGRGHSXUH]D
\RULJHQVHFODVLILFDFRPR
D+HURtQDQ~PHUR
E+HURtQDQ~PHUR
F+HURtQDQ~PHUR
/DWROHUDQFLDFUX]DGDFRQVLVWHHQ
D/DQHFHVLGDGGHDXPHQWDUODGRVLVGHXQDVXVWDQFLDSDUDFRQVHJXLUVXVHIHFWRV
FXDQGRVHHVFRQVXPLGRUKDELWXDOGHRWUDGHHIHFWRVVLPLODUHV
E/DPH]FODGHYDULRVWLSRVGHGURJDFRQVLJXLpQGRVHHIHFWRVFUX]DGRVQRSURJUDPDGRV
F(OFRQVXPRGHP~OWLSOHVGURJDVGHIRUPDVLPXOWiQHDSDUDFRQVHJXLUHIHFWRVPXOWL
SOLFDGRUHV
6HxDOH OD UHVSXHVWD TXH QR FRQWHQJD XQ QRPEUH FLHQWtILFR GH XQD GURJD
QDWXUDO
D3DSDYHUVRPQLIHUXP
E&DQQDELVVDWLYD
F'HOLULXP7UHPHQV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpUHVSXHVWDFRQWLHQHGURJDVH[FOXVLYDPHQWHQDWXUDOHV"
D2SLRKRMDGHFRFDPDULKXDQD
E0DULKXDQDFRFDtQDPHWDGRQD
F0RUILQDKHURtQDFRFDtQDKDFKtV
(QTXpFDWDORJDFLyQSRQGUtDPRVDODKHURtQDODPRUILQD\HORSLR"
D+LSQyWLFRV
E1DUFyWLFRV
F6HGDQWHV
'HODVVLJXLHQWHVYDULHGDGHVGHODFRFDtQDVHxDOHODTXHVHFRQVXPHIX
PiQGROD
D6XOIDWRGHFRFDtQDREDVXFR
E&UDFNRFRFDtQDEDVH
F$PEDV
&RUWDUXQDGURJDHV
D'XSOLFDUVXHIHFWRDOPH]FODUODFRQRWUDVGURJDVGHOPLVPRWLSR
E$QXODUORVHIHFWRVGHODGURJDPHGLDQWHHOVXPLQLVWURGHIiUPDFRVDGHFXDGRV
F$GXOWHUDUODFRQVXVWDQFLDVJHQHUDOPHQWHLQRFXDV
/DVVXVWDQFLDVFRQRFLGDVFRQORVQRPEUHVGHFRFDtQDODVDQIHWDPLQDVOD
QLFRWLQDODFDIHtQDODWHtQDWLHQHWRGDVHOODVHQFRP~Q
D4XHVRQGURJDVSHUPLWLGDVHQVRFLHGDG
E4XHWRGDVHOODVWLHQHQHIHFWRVHVWLPXODQWHVHQPD\RURPHQRUJUDGR
F1RWLHQHQQDGDHQFRP~QHQWUHVt
/DVEHQ]RGLDFHSLQDVSXHGHQHQFXDGUDUVHHQODVLJXLHQWHFODVLILFDFLyQGH
GURJDVVHJ~QVXVHIHFWRV
D'HSUHVRUHV
E(VWLPXODQWHV
F$OXFLQyJHQRV
&XiOVHUtDHORUGHQPiVFRUUHFWRHQFXDQWRDSRGHUGHDGLFFLyQGHPD\RU
DPHQRUGHODVGURJDVH[SXHVWDV"
D1LFRWLQDDOFRKROKHURtQDFRFDtQDPDULKXDQD
E+HURtQDFRFDtQDPDULKXDQDDOFRKROQLFRWLQD
F$OFRKROKHURtQDQLFRWLQDFRFDtQDPDULKXDQD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'yQGHVHSXHGHHQFXDGUDUSRUVXVHIHFWRVODVGURJDVFRQRFLGDVFRPR
EHQ]RGLDFHSLQDV"
D(VWLPXODQWHV
E'HSUHVRUHV
F$OXFLQyJHQRV
4XpVRQODVVPDUWGUXJV"
D'URJDVGHGLVHxRGHHIHFWRVVLPLODUHVDOp[WDVLV
E'URJDVVLQDSDUHQWHHIHFWRVDGLFWLYRVTXHVXSXHVWDPHQWHSRWHQFLDQODPHPRULD\
ODLQWHOLJHQFLD
F'URJDVGHHIHFWRPX\UiSLGR\GHODUJDGXUDFLyQ
7RGDVXVWDQFLDPHGLFLQDOTXHSURYRFDVXHxRRHVWXSRU\TXHLQKLEHHOGR
ORUVHFRQRFHFRPR
D'HSUHVRU
E1DUFyWLFRRHVWXSHIDFLHQWH
F(VWLPXODQWH
/DGHQRPLQDFLyQWpFQLFDGHSVLFRDQDOpSWLFRVHFRUUHVSRQGHFRQ
D/RVGHSUHVRUHV
E/RVHVWLPXODQWHV
F/RVDOXFLQyJHQRV
4XpGURJDHVFRQRFLGDYXOJDUPHQWHFRPRiFLGR"
D/6'
E7+&
F3&3
4XpGURJDGHODVH[SXHVWDVHQODVUHVSHFWLYDVUHVSXHVWDVWLHQHPiVSULQ
FLSLRDFWLYRFRQPHQRUFDQWLGDGGHVXVWDQFLD"
D+HURtQD
E&RFDtQD
F/6'
6LQRVUHIHULPRVDXQSURGXFWRUHVXOWDGRGHKHUYLUHOFORUKLGUDWRGHFRFDt
QDFRQELFDUERQDWRVyGLFRFX\RUHVXOWDGRDOHQIULDUVHVRQWUR]RVGHURFDVGHFRORU
DPDULOOHQWRHVWDPRVKDEODQGRGH
D6SHHGEDOO
E%DVXFR
F&UDFN

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$TXHOODVVXVWDQFLDVTXHLQKLEHQHOGRORURSLiFHRVGHULYDGRVGHODFRFDtQD
\FDQQiELFRVVHFDOLILFDQSRUOD206FRPR
D3VLFRWUySLFRV
E'HSUHVRUHV
F(VWXSHIDFLHQWHV
/DVVXVWDQFLDVTXHDIHFWDQDOFHUHEURSURGXFLHQGRHVWLPXODFLyQGHSUH
VLyQRWUDVWRUQRGHOVLVWHPDQHUYLRVRFHQWUDOOD206ODVFDOLILFDFRPR
D3VLFRWUySLFRV
E(VWLPXODQWHV
F(VWXSHIDFLHQWHV
/DVVXVWDQFLDVHVWXSHIDFLHQWHVIXHURQGHFODUDGDVFRPRWDOHVSRUOD206
HQOD&RQYHQFLyQQLFDGHFHOHEUDGDHQ
D1XHYD<RUN
E9LHQD
F*LQHEUD
(QWHQGHPRVSRUQDUFyWLFR
D7RGDVXVWDQFLDTXHDOWHUHHOQRUPDOFRPSRUWDPLHQWRGHORUJDQLVPR
E/DVVXVWDQFLDVGHQRPLQDGDVFRPRHVWXSHIDFLHQWHV
F3VLFRWUySLFRV\HVWXSHIDFLHQWHV
(Op[WDVLVSRGHPRVFRQVLGHUDUORFRPRVXVWDQFLD
D(VWXSHIDFLHQWH
E(VWLPXODQWH
F'HSUHVRUD
/DGURJDSRSXODUPHQWHFRQRFLGDFRPR&.HV
D8QGHSUHVRU
E8QFRPELQDGRGHFRFDtQD\NHWDPLQD
F8QDGURJDVLQWpWLFDSURYHQLHQWHGHOFRUQH]XHORGHOFHQWHQR
(OOODPDGRe[WDVLVOtTXLGRVXVWDQFLDPHGLFDPHQWRVDTXHVHXWLOL]DHQ
ILHVWDVSURORQJDGDVSHURTXHQRWLHQHQDGDTXHYHUFRQODVXVWDQFLDGHVtQWHVLV
FRQRFLGDFRPRe[WDVLV\DTXHVHWUDWDGHXQGHSUHVRUUHFLEHQRPEUHVGLIHUHQWHV
UHODFLRQDGRVFRQODVLJODLQLFLDOGHOFRPSXHVWRTXtPLFRWDOHVFRPR
D*R*DPPD*
E%DUELVRPXxHFDV
F9LDMH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpQRPEUHSRSXODUUHFLEHODVXVWDQFLDOtTXLGDOODPDGDQLWULWRGHDPLOR
TXHVHLQJLHUHLQKDODGD\VHXWLOL]DH[FOXVLYDPHQWHSDUDHOSODFHUVH[XDO\FX\RV
HIHFWRVQROOHJDQDVXSHUDUXQSDUGHVHJXQGRV"
D*DPPD*
E3VLORF\EH
F3RSSHUV
/D &RQYHQFLyQ GH 9LHQD HQ ILVFDOL]DXQDVHULH GH VXVWDQFLDVFX\D
YHQWD \ DGPLQLVWUDFLyQ VH UHDOL]DQ FRQ FRQWURO PpGLFR FRQFUHWDQGR XQD UHODFLyQ
GHVXVWDQFLDV
D(VWLPXODQWHV
E3VLFRWUySLFDV
F(VWXSHIDFLHQWHV
(QWUH ORV HIHFWRV GHO FRQVXPR GH GURJDV HVWi HQJDQFKDUWH D XQD GH
HOODVGHIRUPDTXHHOFRQVXPLGRUVHFRQYLHUWHHQXQDSHUVRQDGHSHQGLHQWHGHHVD
VXVWDQFLD4XpWLSRGHGHSHQGHQFLDHVPiVGLItFLOGHHOLPLQDUSDUDXQDSHUVRQD
TXHKD\DGHFLGLGRGHMDUGHFRQVXPLUOD"
D'HSHQGHQFLDSVtTXLFD
E'HSHQGHQFLDItVLFD

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
D$OXFLQyJHQR
E+HURtQD
F+LSQyWLFRV\VHGDQWHV
F3VtTXLFRV\ItVLFRV
F3XHGHQVHULQJHULGRVSDUDILQHVPpGLFRVHQGRVLVSHTXHxDV
D6SHHGEDOO
F8QD]RQDGHSURFHGHQFLDGHORSLR
E8QDGLYLVLyQGHODVGURJDVHQDWHQFLyQDVXILVFDOLGDG
F8QGHULYDGRGHODKRMDGHFRFD
E&UDFN
D6tQGURPHGHDEVWLQHQFLDFRQGLFLRQDGR
D$OXFLQyJHQR
Fe[WDVLV
E0HWDGRQD
F7ROHUDQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/DVDQIHWDPLQDV
E3&3
F(ODFHLWHGHKDFKtV
F)ODVKEDFN
D&RPRGHSUHVRUHV
F$OFRKyOLFD
E'HODUHVLQD\IORUHVGHODSODQWD
E(O3&3
D/DVKRMDVGHFRFD
F(Op[WDVLV
D'URJD
D/DDGLFFLyQDODGURJDHVHOHVWDGRPiVSHUMXGLFLDOGHHVWDVVLWXDFLRQHV
F1DWXUDOHV
F/DVGRVDQWHULRUHVSXHGHQFDWDORJDUVHDVt
F)XHHOSURGXFWRVLQWHWL]DGRHQGLFKRVODERUDWRULRV
E&RQVXPLGRUHVSRUiGLFR
F'HSUHVRU
D+iELWR
F/RVGRVDQWHULRUHVVRQVtQWRPDVGHGHSHQGHQFLD
F7ROHUDQFLD
D3VLFRWUySLFR
F6tQGURPHGHDEVWLQHQFLDFRQGLFLRQDGR
E7ROHUDQFLD
F6LQWpWLFDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E/DLQWHQFLRQDOLGDGGHVXLQJHVWD
F&UDFN\FRFDtQD
E(VWLPXODQWHV
F(ORSLR
E/DPRUILQD
D&RUWDUODGURJD
F'HORSLR
F0'0$
D7+&
F(O/6'
D$OXFLQyJHQDV
E%DUELW~ULFRV
F'HOD3DSDYHUVRPQLIHUXP
D(OKDFKtV
F(O/6'
D/DFRFDtQD
D$OFRKRO\EHQ]RGLDFHSLQDV
F(OVHJXQGRVLQHVWDUHQJDQFKDGRDODGURJDODFRQVXPHFRQFLHUWDKDELWXDOLGDG
\HOSULPHURVyORFRPRH[SHULHQFLD
E/DWROHUDQFLDFUX]DGD
F7UDQTXLOL]DQWH
D8QRSLiFHRVLQWpWLFR
F3VLFRWUySLFR
F7R[LFRPDQtD
F'URJRGHSHQGHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D/RVHIHFWRVItVLFRV
D1DWXUDOHV
E+HURtQD
F&DQQiELFRV
D3&3
F(O/6'
E)XPDGR
F'HODPRUILQD
E&RFDtQD
Fe[WDVLV
F(O/6'
F1LQJXQDGHODVDILUPDFLRQHVDQWHULRUHVHVFRUUHFWD
E/DKHURtQD
D/RVLQKDODQWHV
D'HSHQGHQFLDItVLFD
D+HURtQDQ~PHUR
E*+%
F3RSSHUV
D.HWDPLQD
F(OKDFKtV
E.HWDPLQD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E3ROLWR[LFRPDQtD
Fe[WDVLV
D/RVEDUELW~ULFRV
F/DFRFDtQD
F%URZQ6XJDU
F/DFRFDtQD
F+HURtQDQ~PHUR
D/DQHFHVLGDGGHDXPHQWDUODGRVLVGHXQDVXVWDQFLDSDUDFRQVHJXLUVXVHIHF
WRVFXDQGRVHHVFRQVXPLGRUKDELWXDOGHRWUDGHHIHFWRVVLPLODUHV
F'HOLULXP7UHPHQV
D2SLRKRMDGHFRFDPDULKXDQD
E1DUFyWLFRV
F$PEDV
F$GXOWHUDUODFRQVXVWDQFLDVJHQHUDOPHQWHLQRFXDV
E4XHWRGDVHOODVWLHQHQHIHFWRVHVWLPXODQWHVHQPD\RURPHQRUJUDGR
D'HSUHVRUHV
D1LFRWLQDDOFRKROKHURtQDFRFDtQDPDULKXDQD
E'HSUHVRUHV
E'URJDVVLQDSDUHQWHHIHFWRVDGLFWLYRVTXHVXSXHVWDPHQWHSRWHQFLDQODPH
PRULD\ODLQWHOLJHQFLD
E1DUFyWLFRRHVWXSHIDFLHQWH
E/RVHVWLPXODQWHV
D/6'
F/6'
F&UDFN
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(VWXSHIDFLHQWHV
D3VLFRWUySLFRV
D1XHYD<RUN
E/DVVXVWDQFLDVGHQRPLQDGDVFRPRHVWXSHIDFLHQWHV
D(VWXSHIDFLHQWH
E8QFRPELQDGRGHFRFDtQD\NHWDPLQD
D*R*DPPD*
F3RSSHUV
E3VLFRWUySLFDV
D'HSHQGHQFLDSVtTXLFD

32/,&$1$&,21$/(6&$/$%6,&$
&0DWHULDV7pFQLFR&LHQWtILFDV
7(671
/$(/(&751,&$&21&(372'(&20321(17(6(/(&751,&26
75$160,6,21(6/$621'$6(/(&7520$*1e7,&$6
02'8/$&,1<75$160,6,10(',26'(75$160,6,1
87,/,=$&,1%6,&$'(816,67(0$'(&2081,&$&,21(6
75$160,6,21(6',*,7$/(6<75$160,6,21(6$1$/*,&$6
&yPRVHSURGXFHHOSDVRUHDOGHODFRUULHQWHHOpFWULFDSRUXQFLUFXLWRHOHF
WUyQLFR"
D'HOSRORQHJDWLYRDOSRVLWLYR
E'HOSRORSRVLWLYRDOQHJDWLYR
F'HOiQRGRDOFiWRGR
8QLRQFDUJDGRSRVLWLYDPHQWHHV
D8QiWRPRFRQH[FHVRGHHOHFWURQHV
E8QiWRPRTXHJDQDSURWRQHV
F8QiWRPRFRQIDOWDGHHOHFWURQHV
&XiOHVODPHGLGDGHODUHVLVWHQFLDHOpFWULFD"
D(ORKPLR
E(ODPSHULR
F(OYDWLR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QHOIHQyPHQRGHUHIOH[LyQODRQGDUHIOHMDGD
D&DPELDVyORGHGLUHFFLyQ
E&DPELDVyORGHVHQWLGR
F&DPELDGHGLUHFFLyQ\VHQWLGR
4Xp HOHPHQWR QR HV QHFHVDULR SDUD TXH HQ XQ FLUFXLWR SXHGD FLUFXODU OD
FRUULHQWHHOpFWULFD"
D8QJHQHUDGRUGHFRUULHQWH
E8QLQWHUUXSWRU
F5HVLVWHQFLD
8QFLUFXLWRHOpFWULFRFHUUDGRFRQVXPLQLVWURGHXQDIXHQWHGHDOLPHQWDFLyQ\
TXHFDUH]FDGHUHVLVWHQFLDHV
D8QFLUFXLWRSHUIHFWR
E8QFLUFXLWRHOHFWUyQLFR
F8QFRUWRFLUFXLWR
4Xp FRPSRQHQWH GH XQD IXHQWH GH DOLPHQWDFLyQ FDPELD OD WHQVLyQ GH OD
FRUULHQWHHOpFWULFD"
D8QWUDQVIRUPDGRU
E8QGLRGR
F8QWULRGR
8QiWRPRFRQFDUJDSRVLWLYDHVXQ
D$QLyQ
E&DWLyQ
F3URWyQLRQ
(QXQiWRPRTXpFRPSRQHQWHRFRPSRQHQWHVVRQIiFLOHVGHDSRUWDURVXSULPLU"
D/RVHOHFWURQHV
E/RVSURWRQHV
F/RVQHXWURQHV
7HQLHQGRHQFXHQWDODWHRUtDGHODVEDQGDVGHYDOHQFLDTXpFDUDFWHUtVWLFDV
GHODVHQXPHUDGDVFRUUHVSRQGHDXQVHPLFRQGXFWRU"
D6XEDQGDHQHUJpWLFDGHFRQGXFFLyQHVPX\DPSOLD
E7LHQHQXQDSHTXHxDEDQGDSURKLELGD
F&DUHFHQGHEDQGDSURKLELGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3DUDODUHJXODFLyQGHFLUFXLWRVHQEDVHDODSUHVHQFLDRDXVHQFLDGHOX]VH
XWLOL]DHOVLJXLHQWHSDUGHFRPSRQHQWHVHOHFWUyQLFRV
D'LRGR7ULRGR
E'LRGR=HQHU7ULDF
F'LRGR/HG)RWRGLRGR
4XpHOHPHQWRHOHFWUyQLFRHVWiFRPSXHVWRVyORGHGRVVHPLFRQGXFWRUHV
GLVWLQWRV"
D7LULVWRU
E)RWRWUDQVLVWRU
F'LRGR
6HxDOHHQWUHODVVLJXLHQWHVRSFLRQHVDTXHOODTXHVHUHILHUDDXQDWHFQROR
JtDGHWUDQVPLVLyQLQDOiPEULFDPX\GHDFWXDOLGDG
D&RD[LDO
E7ULDF
F%OXHWRRWK
'HORVVLJXLHQWHVWLSRVGHRQGDVFXiOHVSXHGHQVDOYDUREVWiFXORVLQWHU
SXHVWRVHQWUHHOHPLVRU\HOUHFHSWRU"
D/DVOXPLQRVDV
E/RVLQIUDUURMRV
F/DVPLFURRQGDV
&XiOHVHOIXQGDPHQWRGHORVFLUFXLWRVLQWHJUDGRVGLJLWDOHV"
D/DFRPELQDFLyQGHSRWHQFLyPHWURVUHyVWDWRV\RWURVFRPSRQHQWHVHOpFWULFRV
E/RVFLUFXLWRVDPSOLILFDGRUHVRVFLODGRUHVHWF
F/DVSXHUWDVOyJLFDV
/DVYDULDFLRQHVGHOX]VHFRQYLHUWHQHQYDULDFLRQHVGHWHQVLyQHOpFWULFDSRU
PHGLRGHXQGLVSRVLWLYRHOHFWUyQLFROODPDGR
D'HPRGXODGRU
E&pOXODIRWRHOpFWULFD
F7XERGHUD\RVFDWyGLFRV
(QODWUDQVPLVLyQVHPLG~SOH[
D1RVHHPLWH\UHFLEHVLPXOWiQHDPHQWH
E6HUHDOL]DHPLVLyQ\UHFHSFLyQVLPXOWiQHDV
F6HHPLWHVyORHQXQVHQWLGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpPDQGRGHXQHTXLSRGHWUDQVPLVLyQSRUWiWLOVHXWLOL]DSDUDHOLPLQDU
ORVUXLGRV"
D377
E+,/2
F64/
/DVRQGDVHOHFWURPDJQpWLFDVIXHURQGHVFXELHUWDVSRU
D+HUW]
E0DUFRQL
F1HZWRQ
6LXQUHFHSWRUSXHGHFDPELDUGHIUHFXHQFLD
D3XHGHHPLWLUHQIUHFXHQFLDPRGXODGD
E3HUPLWHODHPLVLyQHQ$0\)0
F6LQWRQL]DGLVWLQWRVFDQDOHV
(QHOPRYLPLHQWRRQGXODWRULRVHWUDQVPLWH
D0DWHULD
E(QHUJtD
(Q TXp WLSR GH PRGXODFLyQ OD VHxDO UHVXOWDQWH PDQWLHQH XQD IUHFXHQFLD
FRQVWDQWH"
D0RGXODFLyQELQDULD
E0RGXODFLyQHQIUHFXHQFLD
F0RGXODFLyQHQDPSOLWXG
/DFRPELQDFLyQGHPiVGHXQFDQDOGHLQIRUPDFLyQHQXQVRORPHGLRWUDQV
PLVRUHVHOFRQFHSWRGH
D0XOWLSOH[DFLyQ
E7HOHFRPXQLFDFLyQ
F0RGXODFLyQ
8QDVHxDOGHYDORUGLVFUHWRWDOTXHRVFLODHQWUHXQPi[LPR\XQPtQLPRVLQ
YDORUHVLQWHUPHGLRVVHFRQRFHFRPR
D3RUWDGRUD
E'HUDGLRIUHFXHQFLD
F'LJLWDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OIHQyPHQRSRUHOFXDOGRVVHxDOHVDQDOyJLFDVGLVWLQWDVGHELGRDODHVFDVD
IUHFXHQFLDGHPXHVWUHRSXHGDQUHSUHVHQWDUVHxDOHVGLJLWDOHVLJXDOHVVHGHQRPLQD
D%LWUDWH
E&RPSUHVLyQ
F$OLDVLQJ
8QGLVSRVLWLYRTXHSHUPLWHHOFDPELRGHHQHUJtDGHVXHQWUDGDDVXVDOLGD
RUHVSXHVWDWDOFRPRSXHGDVHUXQVHQVRUHOHFWUyQLFROXPLQRVRVHGHQRPLQDJH
QpULFDPHQWH
D7UDQVFHSWRU
E7UDQVGXFWRU
F5HIOHFWRU
(QTXpWLSRGHPRGXODFLyQVHREWLHQHXQDVHxDOUHVXOWDGRGHODXQLyQGH
XQDSRUWDGRUD\GHXQDPRGXODGRUD"
D(QOD)UHFXHQFLD0RGXODGD
E(QOD$PSOLWXG0RGXODGD
F(QDPEDV
&yPRVHGHQRPLQDDOFRQGXFWRUTXHSRUWDODVHxDOWUDQVPLWLGDHQXQFDEOH
FRD[LDO"
D3RUWDEOH
E9LYR
F3DQWDOOD
&XDQGRHQXQFLUFXLWRHOpFWULFRGHFRUULHQWHFRQWLQXDORVJHQHUDGRUHVVH
FRQHFWDQVXSRORSRVLWLYRDOQHJDWLYRGHOVLJXLHQWH\DVtVXFHVLYDPHQWHHVWDPRV
HQSUHVHQFLDGHXQDFRQH[LyQ
D6HULH
E3DUDOHOR
F0L[WD
'HORVVLJXLHQWHVFRPSRQHQWHVHOHFWUyQLFRVXQRGHHOORVHVXQHOHPHQWR
GLVFUHWR&XiOWLHQHHVDFDUDFWHUtVWLFD"
D8QWUDQVLVWRU
E8QFLUFXLWRLQWHJUDGR
F8QFKLSGHRUGHQDGRU
(QXQDYiOYXODGHYDFtRHOiQRGRHVHOHOHFWURGRTXH
D6HXQHDOFiWRGR
E(PLWHHOHFWURQHV
F5HFLEHHOHFWURQHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OHOHPHQWR TXH EDViQGRVH HQ ODVSURSLHGDGHVGHORVVHPLFRQGXFWRUHV

GHMDSDVDUODFRUULHQWHHQXQVRORVHQWLGRVHGHQRPLQD
D7UDQVLVWRU
E'LRGR
F7ULRGR
/RVFLFORVSRUVHJXQGRGHXQDRQGDHVVX
D/RQJLWXGGHRQGD
E$PSOLWXG
F)UHFXHQFLD
&XiOGHORVVLJXLHQWHVHVLQWUtQVHFDPHQWHXQVHPLFRQGXFWRU"
D0DJQHVLR
E*HUPDQLR
F$UVHQLR
/DIUHFXHQFLDRYLEUDFLyQGHORVHOHFWURQHVHQHOLQWHULRUGHXQFRQGXFWRU
HVXQDFDUDFWHUtVWLFDGH
D7RGRWLSRGHFRUULHQWHHOpFWULFD
E/DFRUULHQWHHOpFWULFDFRQWLQXD
F/DFRUULHQWHHOpFWULFDDOWHUQD
(QXQPLVPRPHGLRGHWUDQVPLVLyQ\DXQDPLVPDYHORFLGDGGHWUDQVPLVLyQ
DPHGLGDTXHXQDRQGDWLHQHPD\RUIUHFXHQFLD
D0D\RUHVVXDPSOLWXG
E0HQRUHVVXYHORFLGDG
F6XORQJLWXGHVPHQRU
(QXQUHFHSWRUODVVHxDOHVPRGXODGRUD\SRUWDGRUDVHVHSDUDQHQOD
D0RGXODFLyQ
E'HPRGXODFLyQ
F$PSOLILFDFLyQ
(OFiWRGRHVXQFDPSR
D3RVLWLYR
E1HJDWLYR
F1HXWUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3XHGHXQXVXDULRGHXQDPDOODFRQHFWDUVHFRQORVXVXDULRVGHRWUDPDOOD
HQXQVLVWHPDGHWUDQVPLVLyQFRQYHQFLRQDO"
D1R
E6tVLSHUPXWDHOFRQPXWDGRUDODIUHFXHQFLDGHRWURFDQDO
F6tSRUTXHDOSHUWHQHFHUDODPLVPDUHGHVWiQHQFRQWDFWRSHUPDQHQWH
8QDGHODVDSOLFDFLRQHVGHOWUDQVLVWRUHV
D5HFWLILFDUODFRUULHQWH
E$PSOLILFDUODVVHxDOHV
F'HPRGXODUODVRQGDVGHUDGLR
/DVSDUWtFXODVTXHFLUFXODQHQORVFLUFXLWRVHOpFWULFRVVRQ
D(OHFWURQHV\SURWRQHV
E3URWRQHVRQHXWURQHV
F,RQHVRHOHFWURQHV
(Q XQ HPLVRU OD VHxDO HOHFWURPDJQpWLFD FRUUHVSRQGLHQWH D OD PRGXODGD
HQWUHODGHDXGLR\ODSRUWDGRUDVHFRQYLHUWHHQRQGDGHUDGLRHQ
D/DDQWHQD
E(OWUDQVLVWRU
F(OPRGXODGRU
3DUDFRQVHJXLUPD\RUHVDOFDQFHVGHHPLVLyQVHXWLOL]DQORVOODPDGRV
D(TXLSRVUHSHWLGRUHV
E(TXLSRVSRUWiWLOHV
F(TXLSRVPyYLOHV
/D VHxDO HOpFWULFD GH EDMD IUHFXHQFLD FRUUHVSRQGLHQWH DO VRQLGR OODPDGD
VHxDOGHDXGLRHVSURSRUFLRQDGDSRU
D(ODOWDYR]
E(OPRGXODGRU
F(OPLFUyIRQR
(OFRQWUROGHOIOXMRGHHOHFWURQHVHQXQDYiOYXODWULRGRVHOOHYDDHIHFWRSRU
PHGLR
D'HOILODPHQWR
E'HODUHMLOOD
F'HOFiWRGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/RVUD\RVFDWyGLFRVVRQ
D8QDFRUULHQWHGHLRQHVTXHYDQDOFiWRGR
E(OHFWURQHV
F(QHUJtDOXPLQRVDGHPX\DOWDIUHFXHQFLD
'LVSRVLWLYRWHUPRLyQLFRRGHPDWHULDOVHPLFRQGXFWRUTXHSUHVHQWDXQDFRQ
GXFWLYLGDGXQLODWHUDO\SXHGHVHUYLUGHGHWHFWRURGHUHFWLILFDGRUHVODGHILQLFLyQGH
D7ULRGR
E'LRGR
F9iOYXODHQJHQHUDO
6HOODPDDPSOLWXGGHRQGD
D$OWLHPSRTXHWDUGDXQFLFORFRPSOHWR
E$OYDORUPi[LPRGHFUHVWD
F$ODYHORFLGDGGHXQFLFOR
/DRQGDUHVXOWDQWHGHODXQLyQGHGRVRPiVRQGDVHQHOHVSDFLRVHGHQRPLQD
D0RGXODFLyQ
E,QWHUIHUHQFLD
F'HPRGXODFLyQ
/DFRQYHUVLyQGHODFRUULHQWHDOWHUQDHQFRQWLQXDVHGHQRPLQD
D7UDQVIRUPDFLyQGHFRUULHQWH
E5HFWLILFDFLyQ
F$FRQGLFLRQDPLHQWR
&yPRVHGHQRPLQDDOGLVSRVLWLYRFRPSRQHQWHGHXQFDEOHFRQGXFWRUHOpF
WULFRTXHLPSLGHRDWHQ~DODLQWURPLVLyQGHVHxDOHVDMHQDVDODWUDQVPLVLyQHQHO
FRQGXFWRUTXHSRUWDODVHxDOWUDQVPLWLGD"
D9LYR
E3RUWDGRU
F3DQWDOOD
(OSURFHVRSRUHOFXDOXQDVHxDOHOpFWULFDVHFRPELQDFRQRWUDSDUDSHUPLWLUVX
FRQYHUVLyQHQRQGDHOHFWURPDJQpWLFD\VXGHVSOD]DPLHQWRHQHOHVSDFLRVHGHQRPLQD
D,QWHUIHUHQFLD
E0RGXODFLyQ
F0XOWLSOH[DFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OWLSRGHPRGXODFLyQPiVVHQVLEOHDODVLQWHUIHUHQFLDVHV
D$0
E)0
F0RGXODFLyQGHIDVH
&XiOGHODVVLJXLHQWHVUHVSXHVWDVFRQWLHQHXQWpUPLQRTXHKDFHDOXVLyQD
ODWUDQVPLVLyQGHVHxDOHVHQWUHRUGHQDGRUHVVLQXWLOL]DFLyQGHFDEOHV"
D)LEUDySWLFD
E:L)L
F,QWUDQHW
/DWHFQRORJtD%OXHWRRWKTXpWLSRGHUDGLDFLyQXWLOL]DHQVXVWUDQVPLVLRQHV"
D0LFURRQGDV
E,QIUDUURMRV
F/XPLQRVDV
8QFRQMXQWRGHGLRGRV\WUDQVLVWRUHVLQWHJUDGRVHQXQPLVPRFRPSRQHQWH
TXHWUDEDMDQFRPRXQLGDGSDUDGDUUHVSXHVWDDXQDRPiVHQWUDGDVGHVHxDOHVHV
D8QWUDQVPLVRU
E8QDHWDSDHPLVRUD
F8QDSXHUWDOyJLFD
(O Q~PHUR GH PXHVWUDV REWHQLGDV D XQD VHxDO DQDOyJLFD HQ OD XQLGDG GH
WLHPSRDOREMHWRGHVXFRQYHUVLyQHQVHxDOGLJLWDOVHGHQRPLQD
D$ILQLGDG
E)UHFXHQFLDGHPXHVWUHR
F9LUWXDOLGDG
(QXQFLUFXLWRGHFRUULHQWHFRQWLQXDFXDQGRVHFRQHFWDQYDULRVJHQHUDGR
UHVHQWUHVtDWUDYpVGHVXVWHUPLQDOHVGHLJXDOSRODULGDGKDEODPRVGH
D&RQH[LyQVHULH
E&RQH[LyQSDUDOHOR
F&RQH[LyQPL[WD
4XpGLVSRVLWLYRFRQYLHUWHHQHUJtDHOpFWULFDHQPHFiQLFD"
D8QDOWHUQDGRU
E8QDSLOD
F8QPRWRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3RUTXpPRWLYRVHPRGXODODVHxDOGHDXGLRIUHFXHQFLDFRQXQDVHxDOSRUWDGRUD"
D3RUTXHDVtVHHYLWDQLQWHUIHUHQFLDV
E3RUTXHVHHFRQRPL]DHQDQFKRGHEDQGD
F3DUDSRGHUWUDQVPLWLUODVHxDOGHDXGLRDJUDQGLVWDQFLD
(QXQFLUFXLWRHOpFWULFRTXHQRGLVSRQJDGHJHQHUDGRU
D1RKD\FLUFXODFLyQGHFRUULHQWHHOpFWULFD
E/DVYDULDFLRQHVGHLQWHQVLGDGGHODFRUULHQWHVRQHVFDVDV
F/DFRUULHQWHHOpFWULFDQRHVFRQWLQXDVLQRDOWHUQD
/DGLVWDQFLDHQWUHGRVSXQWRVFRQWLJXRVGHYDORUPi[LPRGHXQDRQGDVH
FRQRFHFRPR
D$PSOLWXG
E)UHFXHQFLD
F/RQJLWXG
/DVRQGDVGHUDGLRVRQ
D6RQRUDV
E(OHFWURPDJQpWLFDV
F/XPLQRVDV
8QWUDQVLVWRUGHXQLyQGHTXpSDUWHVFRQVWD"
D(PLVRU\FROHFWRU
E(PLVRUEDVH\FROHFWRU
F(PLVRUSODFD\FROHFWRU
8QFDxyQHOHFWUyQLFRHVXQDSDUWHGH
D8QDYiOYXODGLRGRGHYDFtR
E8QWUDQVLVWRU
F8QWXERGHUD\RVFDWyGLFRV
$SOLFDFLyQIXQGDPHQWDOGHOGLRGRHV
E$PSOLILFDUODVHxDO
F$XPHQWDUODSRWHQFLD
(QXQUHFHSWRUGHUDGLRODHWDSDHQTXHVHVLQWRQL]DXQDGHWHUPLQDGDHPL
VRUDVHOODPD
D$PSOLILFDGRUD
E6HOHFWRUD
F0RGXODGRUD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
$OFRQMXQWRGHXVXDULRVGHXQHTXLSRGHWUDQVPLVLyQFRQYHQFLRQDOTXHXWL
OL]DQHOPLVPRFDQDOGHWUDEDMRVHOODPD
D5HG
E1RGR
F0DOOD
/DVRQGDVVRQRUDVFXDQGRVHHPLWHQHQHOYDFtR
D1RVHWUDQVPLWHQ
E&DPELDQVXDPSOLWXG
F6XYHORFLGDGDXPHQWD
/DVIUHFXHQFLDVXWLOL]DGDVH[FOXVLYDPHQWHSRUORVXVXDULRVGHXQDPDOOD\
SRUODFHQWUDOGHODUHGHQXQVLVWHPDGHWUDQVPLVLyQFRQYHQFLRQDOVHOODPDQ
D)UHFXHQFLDVUHVRQDQWHV
E0DOOD
F&DQDOGHWUDEDMR
&XiOHVODPHGLGDGHODSRWHQFLDHOpFWULFD"
D9DWLR
E9ROWLR
F2KPLR
(Q XQD YiOYXOD GLRGR WHUPRLyQLFR VL QR VH FRQHFWD SRWHQFLDO SRVLWLYR DO
iQRGR
D+D\FRQGXFFLyQHOpFWULFDVLHPSUHTXHHOFiWRGRHPLWDHOHFWURQHV
E+D\FRQGXFFLyQHOpFWULFDDXQTXHHOFiWRGRQRHPLWDHOHFWURQHV
F1RKD\FRQGXFFLyQHOpFWULFD
3DUDFXEULU]RQDVSHTXHxDVWDOHVFRPRHODOFDQFHGHXQDFLXGDGODVWUDQV
PLVLRQHVGHUDGLRXWLOL]DQQRUPDOPHQWHRQGDV
D'HJUDQORQJLWXG
E'HEDMDIUHFXHQFLD
F'H8+)R9+)
/DVHxDOHOpFWULFDGHQRPLQDGDSRUWDGRUDFRQODTXHVHPRGXODODVHxDOGH
DXGLRFRUUHVSRQGLHQWHDOVRQLGRVHIDEULFDHQXQDHWDSDGHOHPLVRUGHQRPLQDGD
D0RGXODGRUD
E$PSOLILFDGRUD
F2VFLODGRUD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QWUHORVIHQyPHQRVGHOPRYLPLHQWRRQGXODWRULRQRVHHQFXHQWUD
D/DGLIUDFFLyQ
E/DUHIUDFFLyQ
F/DELIXUFDFLyQ
8QiWRPRTXHKDFHGLGRHOHFWURQHVHV
D8QVHPLiWRPR
E8QVHPLFRQGXFWRU
F8QFDWLyQRLRQSRVLWLYR
/RVPHWDOHVHQUHODFLyQDORVIHQyPHQRVGHHOHFWULFLGDGVHFRQVLGHUDQ
D&RQGXFWRUHVGHSULPHUDFODVH
E&RQGXFWRUHVGHVHJXQGDFODVH
F$LVODQWHV
&XDQGRORVELWVDWUDQVPLWLUVHWUDVODGDQXQRGHWUiVGHRWURVREUHODPLVPD
OtQHDWUDQVPLVRUDKDEODPRVGH
D7UDQVPLVLyQDVtQFURQD
E7UDQVPLVLyQSDUDOHOD
F7UDQVPLVLyQVHULH
8QDVHxDOTXHVyORDGPLWDGRVYDORUHVHV
D%LQDULD
E'LJLWDOGLVFUHWD
F$QDOyJLFD
8QDVHxDOTXHVyORDGPLWDPiVGHGRVYDORUHVHQWHURVSUHHVWDEOHFLGRV\QR
YDORUHVFRQWLQXRVVHOODPD
D%LQDULD
E'LJLWDOGLVFUHWD
F$QDOyJLFD
(OFDPELRGHIUHFXHQFLDTXHVHSURGXFHHQXQDRQGDFXDQGRHOHPLVRUHV
PyYLOVHOODPD
D5HIOH[LyQ
E'LVWRUVLyQ
F(IHFWR'RSSOHU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4Xp/H\IXQGDPHQWDOGHODFRUULHQWHHOpFWULFDUHODFLRQDODVWUHVXQLGDGHV
IXQGDPHQWDOHVGHPHGLGDGHODFRUULHQWHHOpFWULFD"
D/H\GH&ROXORPE
E/H\GH2KP
F/H\HVGH.LUVFKRI
$PD\RUORQJLWXGHQXQFRQGXFWRUGHFRUULHQWHHOpFWULFD
D0D\RUWHQVLyQ
E0HQRULQWHQVLGDG
F0D\RUUHVLVWHQFLD
/DUHVLVWHQFLDHTXLYDOHQWHDYDULDVUHVLVWHQFLDVFRQHFWDGDVHQVHULH
D(VODVXPDGHWRGDVHOODV
E6XLQYHUVRHVODVXPDGHORVLQYHUVRVGHFDGDXQDGHHOODV
F(VXQDUHVLVWHQFLDPHQRUTXHFXDOTXLHUDGHHOODV
6HxDOHXQJHQHUDGRUHOpFWULFRHQHOTXHVHSURGX]FDODFRQYHUVLyQGHHQHU
JtDTXtPLFDHQHOpFWULFD
D/DSLOD
E(ODOWHUQDGRU
F$PERV
/DUHFWLILFDFLyQGHFRUULHQWHDOWHUQD\VXFRQYHUVLyQHQFRQWLQXDVHUHDOL]D
SRUPHGLRGHXQGLVSRVLWLYROODPDGR
D7UDQVLVWRU
E7LULVWRU
F3XHQWHGHGLRGRV
6HJ~QODWHRUtDGHODVEDQGDVGHHQHUJtDTXpFDUDFWHUL]DDXQDLVODQWH"
D8QDEDQGDSURKLELGDPX\DPSOLD
E8QDEDQGDGHFRQGXFFLyQPX\SHTXHxD
F8QDEDQGDGHYDOHQFLDPX\DPSOLD
8QHOHPHQWRHOHFWUyQLFRTXHHQFRQWDFWRFRQXQDWHQVLyQHOpFWULFDHPLWH
OX]VHGHQRPLQD
D=pQHU
E/HG
F7UDQVLVWRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDUUROODPLHQWRGHFRQGXFWRUHOpFWULFRGHPX\EDMDUHVLVWHQFLDHQIRUPD
GHHVSLUDVHVHOFRPSRQHQWHGHQRPLQDGR
D&RQGHQVDGRU
E5HRVWDWR
F6ROHQRLGHRERELQD
&XDQGRODGLUHFFLyQGHOPRYLPLHQWRGHXQDRQGDHVODPLVPDTXHVXSUR
SDJDFLyQWDOFRPRHOFDVRGHODVRQGDVFRUUHVSRQGLHQWHVDOVRQLGRHVWDPRVKD
EODQGRGHRQGDV
D/RQJLWXGLQDOHV
E7UDQVYHUVDOHV
F(OHFWURPDJQpWLFDV
&XDQGRSDUDTXHXQDRQGDSXHGDWUDQVPLWLUVHQHFHVLWDGHXQPHGLRItVLFR
TXHORSHUPLWD\SRUHOFRQWUDULRVHUtDLPSRVLEOHVXWUDQVPLVLyQHQHOYDFtRKDEOD
PRVGHXQWLSRGHRQGDVOODPDGDV
D(OHFWURPDJQpWLFDV
E'HUDGLR
F0HFiQLFDV
/RVFLFORVTXHUHDOL]DXQDRQGDHQODXQLGDGGHWLHPSRHVVX
D/RQJLWXGGHRQGD
E)UHFXHQFLD
F3HULRGR
&XDQGRXQDRQGDFDPELDGHPHGLRGHWUDQVPLVLyQTXpYDUtD"
D6XIUHFXHQFLD
E6XORQJLWXG
F1DGD
&yPRVRQHQWUHVtORVFDPSRVHOpFWULFRV\PDJQpWLFRVGHXQDRQGDHOHF
WURPDJQpWLFD"
D3HUSHQGLFXODUHV
E3DUDOHORV
F$VLPpWULFRV
$TXpYHORFLGDGFLUFXODQODVRQGDVHOHFWURPDJQpWLFDVHQHOYDFtR"
D$NPSRUKRUD
E$NPSRUVHJXQGR
F$PHQRVGHNPSRUVHJXQGR\DTXHHVWDHVODYHORFLGDGFRUUHVSRQGLHQWH
VyORDODOX]

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QDRQGDGHUDGLRGHQRPLQDGD2QGD/DUJDVHFRUUHVSRQGHFRQXQDRQGDGH
D$OWDIUHFXHQFLD
E0X\DOWDIUHFXHQFLD
F%DMDIUHFXHQFLD
/DVPLFURRQGDVVRQRQGDVHOHFWURPDJQpWLFDV
D'HXQDJUDQORQJLWXGGHRQGD
E'HPX\DOWDIUHFXHQFLD
8QDWUDQVPLVLyQHQXQVRORVHQWLGRWDOFRPRODGHXQDHPLVRUDGHWHOHYL
VLyQRUDGLRFRPHUFLDOHVVHOODPD
D6tPSOH[
E'~SOH[
F6HPLG~SOH[
6HxDOHXQEORTXHRHWDSDFRPSRQHQWHTXHQRFRUUHVSRQGDDXQHPLVRUGHUDGLR
D'HPRGXODGRU
E$PSOLILFDGRU
F$QWHQD
(QXQDPRGXODFLyQSRUIUHFXHQFLDODXQLyQGHODRQGDPRGXODGRUD\SRU
WDGRUDGDFRPRUHVXOWDGRXQDRQGD
D'HIUHFXHQFLDFRQVWDQWH
E'HDPSOLWXGFRQVWDQWH
F'HDPEDVPDJQLWXGHVFRQVWDQWH
7RGRGLVSRVLWLYRHOHFWUyQLFRTXHSHUPLWHODHPLVLyQ\UHFHSFLyQGHRQGDV
HOHFWURPDJQpWLFDVFRUUHVSRQGLHQWHVDVHxDOHVWUDQVPLWLGDVVHGHQRPLQD
D7UDQVFHSWRU
E7UDQVGXFWRU
F5HIOHFWRU
6HxDOHHQWUHODVUHVSXHVWDVDTXHOODTXHFRQWHQJDH[FOXVLYDPHQWHYHQWD
MDVGHODWUDQVPLVLyQGLJLWDOVREUHODDQDOyJLFD
D8WLOL]DPHQRUDQFKRGHEDQGD\VHWUDVODGDPiVUiSLGR
E6XFRVWHHVPHQRU\SHUPLWHQVXHQFULSWDFLyQ
F6HGLVWRUVLRQDQPiVIiFLOPHQWH\VHWUDVODGDQPiVUiSLGR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRVHGLFHTXHXQDVHxDOGLJLWDODGPLWHVRODPHQWHYDORUHVGLVFUHWRV
TXpVHLQGLFDFRQHOOR"
D4XHODVHxDOYDDGTXLULHQGRVyORXQRVYDORUHVSUHGHWHUPLQDGRV
E4XHORVYDORUHVGHODVHxDOVXSHUDQSHUPDQHQWHPHQWHXQPtQLPRHVWDEOHFLGR
F4XHVXVYDORUHVQRSXHGHQDPSOLDUVH
8QDVHxDOGLJLWDOHVXQDVHxDO
D&RQWLQXDHQHOHVSDFLR
E&RQWLQXDHQHOWLHPSR
F'LVFRQWLQXDHQHOWLHPSR
6LDFDGDVHxDODWUDQVPLWLUVHDxDGHQGRVELWXQRGHFRPLHQ]R\RWURGH
ILQDOGHFDGDFDUiFWHUHPLWLGRHVWDPRVUHILULpQGRQRVDXQDWUDQVPLVLyQ
D$VtQFURQD
E6tQFURQD
F$QDOyJLFD
8QDWUDQVPLVLyQGLJLWDOQHFHVDULDPHQWHVHKDGHUHDOL]DUSRUPHGLRGHYDORUHV
D&RQWLQXRV
E'LVFUHWRV
F%LQDULRV
8QDGHODVVLJXLHQWHVUHVSXHVWDVFRQWLHQHXQDFDUDFWHUtVWLFDQRDWULEXLEOH
DXQDRQGDHOHFWURPDJQpWLFD
D1HFHVLWDQGHXQPHGLRItVLFRSDUDWUDQVPLWLUVH
E6HWUDVODGDQHQHOYDFtRDODYHORFLGDGGHODOX]
F6RQRQGDVWUDQVYHUVDOHV
4XpXWLOLGDGWLHQHHOHQFDSVXODGRGHFRPSRQHQWHVHOHFWUyQLFRV"
D(YLWDUTXHODKXPHGDGRHOFDORUSXHGDQDOWHUDUVXIXQFLRQDPLHQWR
E3HUPLWLUVXFRQH[LyQHOpFWULFDFRQODSODFD
&yPRVHGHQRPLQDDODGLVWDQFLDHQWUHSLQGHXQFKLSHOHFWUyQLFR"
D%LW
E3LWFK
F3L[HO
/DUHVLVWHQFLDGHXQFRQGXFWRUHVGLUHFWDPHQWHSURSRUFLRQDO
D$VXORQJLWXG
E$VXVHFFLyQ
F$DPEDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QOD/H\GH2KPEiVLFDHQHOHFWULFLGDGVHUHODFLRQDQHVWDVWUHVPDJQL
WXGHVGHODFRUULHQWHHOpFWULFD
D)UHFXHQFLDFDQWLGDGGHFDUJD\WHQVLyQ
E7HQVLyQLQWHQVLGDG\UHVLVWHQFLD
F3RWHQFLDHQHUJtDHLQWHQVLGDG
/DYHORFLGDGGHSURSDJDFLyQGHODVRQGDVHOHFWURPDJQpWLFDVGHSHQGHGH
D6XIUHFXHQFLD
E6XDPSOLWXG
F(OPHGLRHQHOTXHVHSURSDJXHQ
/DVIUHFXHQFLDVXWLOL]DGDVH[FOXVLYDPHQWHSRUORVXVXDULRVGHXQDPDOOD\
SRUODFHQWUDOGHODUHGVHOODPD
D)UHFXHQFLDUHVRQDQWH
E0DOOD
F&DQDOGHWUDEDMR
3XHGHXQXVXDULRGHXQDPDOODFRQHFWDUVHFRQORVXVXDULRVGHRWUDPDOOD"
D1R
F6tSRUTXHDOSHUWHQHFHUDODPLVPDUHGHVWiQHQFRQWDFWRSHUPDQHQWH
(OSURFHVRTXHSHUPLWHDXQLQGLYLGXRKDFHUOOHJDUDRWURLQIRUPDFLRQHVSRU
PHGLRGHKLORVUDGLRHOHFWULFLGDGHWFVHGHQRPLQD
D7UDQVPLVLyQ
E7HOHFRPXQLFDFLyQ
F9LGHRWH[
(QORVFLUFXLWRVHOHFWUyQLFRVGHFRPSRQHQWHVGLVFUHWRVH[LVWHQHOHPHQWRV
DFWLYRV\SDVLYRV6HxDOHDTXHOTXHVHFRQVLGHUHDFWLYR
D&RQGHQVDGRU
E7UDQVLVWRU
F5HVLVWHQFLD
/DV RQGDV HOHFWURPDJQpWLFDV XWLOL]DGDV HQ WUDQVPLVLyQ GH VHxDOHV FRQ
PHQRUIUHFXHQFLDGHYLEUDFLyQVRQODVFRQRFLGDVFRPR
D2QGDVGHUDGLR
E0LFURRQGDV
F,QIUDUURMRV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
$ODGLIHUHQFLDGHHQHUJtDH[LVWHQWHHQWUHGRVSXQWRVGHXQFLUFXLWRHOpF
WULFRTXHKDFHFLUFXODUODVSDUWtFXODVHOHFWURQHVRLRQHVDWUDYpVGHOPLVPRVH
OHOODPD
D(OHFWUL]DFLyQ
E,QWHQVLGDG
F7HQVLyQ
8QDUHVSXHVWDFRQWLHQHXQDSDUWLFXODULGDGGHODVVHxDOHVGLJLWDOHVHQUH
ODFLyQFRQODVDQDOyJLFDVTXHQRHVFRUUHFWD
D/DVVHxDOHVGLJLWDOHVSXHGHQVHUIiFLOPHQWHUHFRQVWUXLGDVHQFDVRGHSpUGLGDGH
LQIRUPDFLyQ
E/DVVHxDOHVDQDOyJLFDVDGPLWHQFRPSUHVLyQPLHQWUDVTXHODVGLJLWDOHVQRODDGPLWHQ
F6HQHFHVLWDXQVLVWHPDGHFRQYHUVLyQSDUDFRQVHJXLUODVVHxDOHVGLJLWDOHV
4XpIXQFLyQWLHQHHOLQWHUUXSWRUGHYDULDVSRVLFLRQHVGHQRPLQDGRFKDQ
QHOHQXQWUDQVFHSWRU"
D3RVLELOLGDGGHFRQHFWDUFRQPDOODVGLIHUHQWHV
E&RQVHJXLUXQDDXGLFLyQVLQUXLGRV
F3HUPXWDUGHWUDQVPLVLyQVHPLG~SOH[DG~SOH[

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
D'HOSRORQHJDWLYRDOSRVLWLYR
F8QiWRPRFRQIDOWDGHHOHFWURQHV
D(ORKPLR
F&DPELDGHGLUHFFLyQ\VHQWLGR
E8QLQWHUUXSWRU
F8QFRUWRFLUFXLWR
D8QWUDQVIRUPDGRU
E&DWLyQ
D/RVHOHFWURQHV
E7LHQHQXQDSHTXHxDEDQGDSURKLELGD
F'LRGR/HG)RWRGLRGR
F'LRGR
F%OXHWRRWK
F/DVPLFURRQGDV
F/DVSXHUWDVOyJLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E&pOXODIRWRHOpFWULFD
D1RVHHPLWH\UHFLEHVLPXOWiQHDPHQWH
F64/
D+HUW]
F6LQWRQL]DGLVWLQWRVFDQDOHV
E(QHUJtD
F0RGXODFLyQHQDPSOLWXG
D0XOWLSOH[DFLyQ
F'LJLWDO
F$OLDVLQJ
E7UDQVGXFWRU
F(QDPEDV
E9LYR
D6HULH
D8QWUDQVLVWRU
F5HFLEHHOHFWURQHV
E'LRGR
F)UHFXHQFLD
E*HUPDQLR
F/DFRUULHQWHHOpFWULFDDOWHUQD
F6XORQJLWXGHVPHQRU
E'HPRGXODFLyQ
E1HJDWLYR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E$PSOLILFDUODVVHxDOHV
F,RQHVRHOHFWURQHV
D/DDQWHQD
D(TXLSRVUHSHWLGRUHV
F(OPLFUyIRQR
E'HODUHMLOOD
E(OHFWURQHV
E'LRGR
E$OYDORUPi[LPRGHFUHVWD
E,QWHUIHUHQFLD
E5HFWLILFDFLyQ
F3DQWDOOD
E0RGXODFLyQ
D$0
E:L)L
D0LFURRQGDV
F8QDSXHUWDOyJLFD
E)UHFXHQFLDGHPXHVWUHR
E&RQH[LyQSDUDOHOR
F8QPRWRU
F3DUDSRGHUWUDQVPLWLUODVHxDOGHDXGLRDJUDQGLVWDQFLD
D1RKD\FLUFXODFLyQGHFRUULHQWHHOpFWULFD
F/RQJLWXG
E(OHFWURPDJQpWLFDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E(PLVRUEDVH\FROHFWRU
F8QWXERGHUD\RVFDWyGLFRV
E6HOHFWRUD
F0DOOD
D1RVHWUDQVPLWHQ
F&DQDOGHWUDEDMR
D9DWLR
F1RKD\FRQGXFFLyQHOpFWULFD
F'H8+)R9+)
F2VFLODGRUD
F/DELIXUFDFLyQ
F8QFDWLyQRLRQSRVLWLYR
D&RQGXFWRUHVGHSULPHUDFODVH
F7UDQVPLVLyQVHULH
D%LQDULD
E'LJLWDOGLVFUHWD
F(IHFWR'RSSOHU
E/H\GH2KP
F0D\RUUHVLVWHQFLD
D(VODVXPDGHWRGDVHOODV
D/DSLOD
F3XHQWHGHGLRGRV
D8QDEDQGDSURKLELGDPX\DPSOLD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E/HG
F6ROHQRLGHRERELQD
D/RQJLWXGLQDOHV
F0HFiQLFDV
E)UHFXHQFLD
E6XORQJLWXG
D3HUSHQGLFXODUHV
E$NPSRUVHJXQGR
F%DMDIUHFXHQFLD
E'HPX\DOWDIUHFXHQFLD
D6tPSOH[
D'HPRGXODGRU
E'HDPSOLWXGFRQVWDQWH
D7UDQVFHSWRU
E6XFRVWHHVPHQRU\SHUPLWHQVXHQFULSWDFLyQ
D4XHODVHxDOYDDGTXLULHQGRVyORXQRVYDORUHVSUHGHWHUPLQDGRV
F'LVFRQWLQXDHQHOWLHPSR
D$VtQFURQD
F%LQDULRV
D1HFHVLWDQGHXQPHGLRItVLFRSDUDWUDQVPLWLUVH
E3LWFK
D$VXORQJLWXG
E7HQVLyQLQWHQVLGDG\UHVLVWHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F(OPHGLRHQHOTXHVHSURSDJXHQ
F&DQDOGHWUDEDMR
E7HOHFRPXQLFDFLyQ
E7UDQVLVWRU
D2QGDVGHUDGLR
F7HQVLyQ
E/DVVHxDOHVDQDOyJLFDVDGPLWHQFRPSUHVLyQPLHQWUDVTXHODVGLJLWDOHVQROD
DGPLWHQ
D3RVLELOLGDGGHFRQHFWDUFRQPDOODVGLIHUHQWHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
3$57(6<)81&,21(6%6,&$6'(8125'(1$'256,67(0$23(5$7,92
:,1'2:6'(),1,&,1<)81&,21$0,(172%6,&2,&2126<
2%-(726*(67,1'(81,'$'(6'(',6&225*$1,=$&,1'(/26
'$726(1',6&263$57(6<)81&,21$0,(172'(/(6&5,725,2
(/(;3/25$'25'(:,1'2:6/$3$3(/(5$'(5(&,&/$-(
(/3$1(/'(&21752/$&&(625,26
3DUDTXpVLUYHQORVDFFHVRVGLUHFWRV"
D3DUDDFFHGHUDODEDUUDGHKHUUDPLHQWDV
E3DUDDFFHGHUUiSLGRDLQLFLR
F3DUDDFFHGHUPiVUiSLGRDORVILFKHURV\FDUSHWDVGHPiVXVR
$QLYHOGHXVXDULRVHSXHGHUHFXSHUDUXQDUFKLYRTXHKDVLGRHOLPLQDGRGH
OD3DSHOHUDGHUHFLFODMH"
D6tVLHPSUH
E1RHVXQDDFFLyQLUUHYHUVLEOH
F'HSHQGHGHOWLHPSRWUDQVFXUULGR
&XiOGHORVVLJXLHQWHVFRPSRQHQWHVQRSHUWHQHFHDORVDFFHVRULRVGH:LQ
GRZV"
D:RUGSDG
E&DOFXODGRUD
F$\XGDQWH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
4XpQRPEUHUHFLEHHOHOHPHQWRGRQGHVHUHSUHVHQWDQDWRGRVORVHOHPHQ
WRVGH:LQGRZV"
D(VFULWRULR
E6RIWZDUH
F3RUWDIROLRV
(QODFRQILJXUDFLyQGHODSDQWDOODGHOVLVWHPD2SHUDWLYR:LQGRZVVLVHHOLJH
XQDUHVROXFLyQPD\RU
D6HDJUDQGDHOHVFULWRULR
E(OWDPDxRGHLFRQRV\OHWUDVVHKDFHPiVSHTXHxR
F7RGRVORVREMHWRVTXHVHPXHVWUDQHQHOHVFULWRULRDXPHQWDQGHWDPDxR
4XpHVXQDFXHQWDGHXVXDULR"
D8QEX]yQGH&RUUHR(OHFWUyQLFRTXHIDFLOLWDHOSURYHHGRUGH,QWHUQHW
E/DFODYHTXHKD\TXHLQWURGXFLUDUHTXHULPLHQWRGHOVLVWHPDSDUDLQVWDODU:LQGRZV
SRUSULPHUDYH]
F/DFRQILJXUDFLyQLQGLYLGXDOGHFDGDXVXDULRGHXQPLVPRRUGHQDGRU
/DSRVLELOLGDGTXHSHUPLWHHO6LVWHPD2SHUDWLYR:LQGRZVGHTXHXQGLVSRVL
WLYRTXHVHFRQHFWHDORUGHQDGRUTXHGHFRQILJXUDGRDXWRPiWLFDPHQWHVHFRQRFH
FRPR
D'UDJDQG'URS
E3XVK3XOO
F3OXJDQG3OD\
&yPRVHGHQRPLQDODDFFLyQDUHDOL]DUHQHOGLVFRGXURFRQVLVWHQWHHQXQLU
ORVWUR]RVHQORVTXHVHKDJXDUGDGRXQDUFKLYRLQIRUPiWLFRGHIRUPDTXHVXOHFWX
UDVHUHDOLFHPiVUiSLGDPHQWH"
D/LEHUDUHVSDFLR
E)RUPDWHDU
F'HVIUDJPHQWDU
6HxDOHODVHFXHQFLDFRUUHFWDGHDFFLRQHVDUHDOL]DUFXDQGRORTXHTXHUHPRV
FRQVHJXLUHVTXHXQHOHPHQWRGHOHVFULWRULRGHVDSDUH]FDGHpO\VHFRORTXHHQRWUD
XELFDFLyQ
D6HOHFFLRQDUFRSLDU\SHJDU
E6HOHFFLRQDUFRUWDU\SHJDU
F&RUWDUVHOHFFLRQDU\SHJDU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HVGHHOPHQ~GHSURSLHGDGHVGHSDQWDOODQRSRGHPRVUHDOL]DUODVLJXLHQWH
IXQFLyQ
D&RQILJXUDUODUHVROXFLyQ
E(OHJLUXQSURWHFWRUGHSDQWDOOD
F/DVGRVIXQFLRQHVDQWHULRUHVVHSXHGHQUHDOL]DU
3DUDPRYHUXQDYHQWDQDDELHUWD\FRORFDUODHQRWUROXJDUGHODSDQWDOODVH
KDQGHUHDOL]DUODVVLJXLHQWHVDFFLRQHV
D6LWXDUHOSXQWHURGHOUDWyQVREUHFXDOTXLHUOXJDUGHODYHQWDQD\DUUDVWUDUODKDVWDHO
OXJDUUHTXHULGRPDQWHQLHQGRSXOVDGRHOERWyQGHUHFKR
E6LWXDGRHOSXQWHURGHOUDWyQVREUHODEDUUDGHHVWDGRGHODYHQWDQDDUUDVWUDUODKDVWD
VXQXHYDXELFDFLyQPDQWHQLHQGRHOERWyQL]TXLHUGRSXOVDGR
F&RQHOSXQWHURGHOUDWyQVREUHOD%DUUDGH7tWXORGHODYHQWDQDDUUDVWUDUODKDVWDVX
QXHYDXELFDFLyQPLHQWUDVVHPDQWLHQHSXOVDGRHOERWyQL]TXLHUGR
4XpFDUDFWHUtVWLFDGHILQLUtDPHMRUODHVWUXFWXUDHQODTXHVHRUJDQL]DQORV
GDWRVDUFKLYDGRVHQXQDXQLGDGGHGLVFRGXUR"
D'LUHFWLYD
E-HUiUTXLFD
F/LQHDO
&yPR VH GHQRPLQD HO LFRQR GHVGHHO TXHSRGHPRV DFFHGHUDWRGDVODV
XQLGDGHV\FDUSHWDVGHORVGLVFRVRGLVSRVLWLYRVGHDOPDFHQDPLHQWRLQVWDODGRVHQ
QXHVWURHTXLSR"
D0LV'RFXPHQWRV
E3RUWDSDSHOHV
F0L3&R(TXLSRHQRWUDVYHUVLRQHVGH:LQGRZV
4XpLFRQRYLHQHSRUGHIHFWRUHSUHVHQWDGRHQHOHVFULWRULRGH:LQGRZV"
D$FFHVRGLUHFWRD0L3&R(TXLSRHQRWUDVYHUVLRQHV
E3DSHOHUDGHUHFLFODMH
F'LVFR/RFDO&
8QFRPSLODGRUHV
D8QKDUGZDUHEiVLFR
E8QWUDGXFWRU
F8QFRPSULPLGRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOGHORVVLJXLHQWHVSHULIpULFRVORHVGHVDOLGDSDUDJUiILFRVGHIRUPDWR
QRHVWiQGDU
D(VFiQHU
E3ORWWHU
F'LJLWDOL]DGRU
/RVSXQWRVOXPLQRVRVTXHFRQILJXUDQODSDQWDOODVHGHQRPLQDQ
D%LW
E3t[HOHV
F3LWV
/DILORVRItDJHQHUDOGHXQRUGHQDGRUHVPX\VLPSOHUHFLEHGDWRVGHOXVXDULR
DWUDYpVGHOWHFODGRORVSURFHVDFRQHOPLFURSURFHVDGRU\SUHVHQWDHOUHVXOWDGRHQ
HOPRQLWRU6LHQGRHVWRDVtGHGyQGHUHFLEHHOPLFURSURFHVDGRUORVGDWRV"
D'HOWHFODGR
E'HODSODFDEDVH
F'HODPHPRULD5$0
6HxDOHODUHVSXHVWDTXHFRQWHQJDH[FOXVLYDPHQWHKHUUDPLHQWDVGHOVLVWHPD
:LQGRZV
D%ORFNGH1RWDV\:RUG3DG
E5HVWDXUDUVLVWHPD'HVIUDJPHQWDGRUGHGLVFR
F&DOFXODGRUD\([SORUDGRUGH:LQGRZV
/DSDUWHPiVLPSRUWDQWHGHXQRUGHQDGRUODFRQVWLWX\H
D/DXQLGDGDULWPpWLFROyJLFD
E/D8QLGDG&HQWUDOGH3URFHVR
F(OGLVFRGXUR
&XiO GH ORV VLJXLHQWHV OHQJXDMHV GH SURJUDPDFLyQ VHUi PiV FyPRGR GH
XVDUSDUDXQSURJUDPDGRU"
D/HQJXDMHPiTXLQD
E/HQJXDMHGHEDMRQLYHO
F/HQJXDMHGHDOWRQLYHO
3DUDHMHFXWDUXQSURJUDPDHQXQRUGHQDGRU
D+DGHFDUJDUVHSUHYLDPHQWHHQODPHPRULDFHQWUDO
E+DGHHMHFXWDUVHGLUHFWDPHQWHGHVGHHOGLVFRGXUR
F+DGHHVWDUQHFHVDULDPHQWHDUFKLYDGRHQOD520

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OFRQWDGRUGHLQVWUXFFLRQHVHVXQHOHPHQWR
D'HOUHORMLQWHUQR
E'HODPHPRULD5$0
F'HODXQLGDGGHFRQWURO
(QLQIRUPiWLFDXQSURFHVRHV
D8QSURJUDPDHQVDPEODGROLVWRSDUDVHUFDUJDGRHQPHPRULD
E8QSURJUDPD\DFDUJDGRHQPHPRULD
F8QSURJUDPDHQHQVDPEODGRUTXHQRWLHQHHUURUHV
8QFRPSLODGRUHV
D8QWUDGXFWRUGHOHQJXDMHGHDOWRQLYHODFyGLJRPiTXLQD
E8QOHQJXDMHGHSURJUDPDFLyQSRUVtPLVPR
F8QFyGLJRFRPSUHQVLEOHSDUDODPiTXLQD
+DFHUXQUHVHWVXSRQH
D+DFHUXQDFRSLDGHVHJXULGDG
E%RUUDUXQILFKHUR
F$SDJDUHORUGHQDGRUSDUDYROYHUDFRQHFWDUOR
4XpHVXQPyGHP\TXpIXQFLyQWLHQH"
D8QSHULIpULFRGHVDOLGDSDUDJUiILFRV
E8QFRGLILFDGRUGHVHxDOSDUDWUDGXFLUSURJUDPDV
F8QPRGXODGRUGHPRGXODGRUTXHFRQYLHUWHVHxDOHVDQDOyJLFDVHQGLJLWDOHV
/DIRUPDREWHQLGDDOWUDGXFLUXQSURJUDPDSDUDTXHSXHGDVHUHMHFXWDGRHQ
XQRUGHQDGRUUHFLEHHOQRPEUHGH
D&yGLJRLQWHUPHGLR
E&yGLJRIXHQWH
F&yGLJRREMHWR
8QRGHORVVLJXLHQWHVHOHPHQWRVQRHVXQWLSRGHVRSRUWHGHLQIRUPDFLyQ
DSWLFR
E0DWULFLDO
F0DJQpWLFR
&yPRVHOODPDODSDUWHGHOD0HPRULD&HQWUDOGHDFFHVROLEUH\GLUHFWR"
D5$0
E520
F6LVWHPD2SHUDWLYR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O VLVWHPD GH FRORUHV EiVLFRV XWLOL]DGRV HQ XQD LPSUHVRUD VH FRQRFH
FRPR
D2(0
E5*%
F&0<.
(OFRQMXQWRGHSURJUDPDVTXHFRQWURODQ\RSWLPL]DQHOIXQFLRQDPLHQWRGHO
KDUGZDUHVLQLQWHUYHQFLyQGHOXVXDULRVHGHQRPLQD
D6LVWHPD2SHUDWLYR
E3URJUDPDVGHDSOLFDFLyQ
F/HQJXDMHVGHSURJUDPDFLyQ
(OPLFURSURFHVDGRUHVWiFRQIRUPDGRSRU
D/DPHPRULDFHQWUDO\HOGLVFRGXUR
E/D8QLGDGGH&RQWURO\OD8$/
F/D8$/OD8QLGDGGH&RQWURO\ODPHPRULDFHQWUDO
3DUDFRQIHFFLRQDUHOFyGLJRIXHQWHXWLOL]DPRV
D(OFRPSLODGRU
E(O&yGLJRPiTXLQD
F/RVOHQJXDMHVGHSURJUDPDFLyQ
4XpVLVWHPDRSHUDWLYRWDPELpQGHODILUPD0LFURVRIWIXHHODQWHFHVRUGH
ORVVLVWHPDV:LQGRZV"
D(O0&26
E(O06'26
F(O81,;
(OHVSDFLRUHVHUYDGRSRUHO6LVWHPD2SHUDWLYR:LQGRZVSDUDJXDUGDUORFRU
WDGRDOREMHWRGHSHJDUORHQRWUROXJDUVHOODPD
D(VFULWRULR
F3RUWDIROLRVRSRUWDSDSHOHV
(OVLVWHPDGHDUFKLYRV17)6HVSURSLRGHOVLVWHPDRSHUDWLYR
D:LQGRZV
E:LQGRZV;3
F:LQGRZV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/RVVLVWHPDVRSHUDWLYRV:LQGRZVSUHVHQWDQXQDSDQWDOODGHWUDEDMRTXHVH
GHQRPLQD
D3DSHOHUD
E3DQWDOODGHKHUUDPLHQWDV
F(VFULWRULR
4XpERWyQH[LVWHHQODSDUWHLQIHULRUL]TXLHUGDGHODSDQWDOODSULQFLSDOHQ
WRGDVODVYHUVLRQHVGH:LQGRZV"
D(OFRUUHVSRQGLHQWHDOLFRQRGH,QWHUQHW([SORUHU
E8QDSDSHOHUDGHUHFLFODMH
F(OGHOPHQ~GHLQLFLR
8QDYHQWDQDHPHUJHQWHHVDTXHOODTXH
D$SDUHFHFXDQGRVHSXOVDHOERWyQGHUHFKRGHOUDWyQ
E$SDUHFHFXDQGRHOVLVWHPDQRVDYLVDGHXQDDFFLyQLQFRUUHFWDRGHXQSHOLJURVL
FRQWLQXDPRVXViQGROR
F$SDUHFHFXDQGRSDVDPRVHOSXQWHURGHOUDWyQVREUHXQLFRQRGHOHVFULWRULR
/DEDUUDVLWXDGDHQODSDUWHPiVVXSHULRUGHXQDSDQWDOODGHODVDSOLFDFLR
QHVSDUDHOVLVWHPDRSHUDWLYR:LQGRZVHV
D/DEDUUDGHWtWXOR
E/DEDUUDGHPHQ~
F/DEDUUDGHWDUHDV
&yPRVHGHQRPLQDHOPHQ~TXHDSDUHFHHQXQDSDQWDOODGHOVLVWHPDRSH
UDWLYR:LQGRZVFXDQGRVHSXOVDHOERWyQGHUHFKRGHOUDWyQ"
D0HQ~GHHVWDGR
E0HQ~FRQWH[WXDO
F0HQ~GHLQLFLR
&XDQGRSDVDPRVHOSXQWHURGHOUDWyQVREUHXQDLPDJHQRXQLFRQRDYHFHV
DSDUHFHQXQDVSHTXHxDVYHQWDQDVGHLQIRUPDFLyQVREUHHVHREMHWR(QORVVLVWH
PDV:LQGRZVVHGHQRPLQDQ
D9HQWDQDFRQWH[WXDO
E0HQ~GHGLiORJR
F9HQWDQDHPHUJHQWH
8QLFRQRFRQVLVWHQWHHQXQERWyQFRQXQSHTXHxRJXLyQLQIHULRUVLWXDGRHQ
ODSDUWHVXSHULRUGHUHFKDGHXQDYHQWDQDGH:LQGRZVVLUYHSDUD
D2FXOWDUODYHQWDQDDXQTXHVXFRQWHQLGRFRQWLQ~HHQPHPRULD
E5HWLUDUODYHQWDQDGHODSDQWDOODERUUiQGRODGHODPHPRULD
F5HGXFHHOWDPDxRGHODYHQWDQDSHURVLJXHYLVLEOHHQSDQWDOOD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QODSDUWHPiVLQIHULRUGHOHVFULWRULRGH:LQGRZVVHXELFD
D/DEDUUDGHWDUHDV
E/DEDUUDGHHVWDGR
F/DEDUUDGHKHUUDPLHQWDV
4XpGDWRRLFRQRDSDUHFHHQODSDUWHLQIHULRUGHUHFKDGHXQHVFULWRULRGH
:LQGRZV"
D(OERWyQGHOPHQ~GHLQLFLR
E/DKRUD
F(OLFRQRGHO([SORUDGRUGH,QWHUQHW
3DUDHOLPLQDUGHILQLWLYDPHQWHGHQXHVWURRUGHQDGRUXQDUFKLYRLQIRUPiWLFR
EDVWDFRQ
D6HOHFFLRQDUOR\HQYLDUORDODSDSHOHUDGHUHFLFODMH
E$EULUODSDSHOHUDGHUHFLFODMH\FRORFDUORHQHOOD
F/OHYDUORDODSDSHOHUDGHUHFLFODMH\YDFLDUpVWD
(OWDPDxRPi[LPRGHOQRPEUHGHXQLFRQRHQ:LQGRZVQRSXHGHH[FHGHUGH
DFDUDFWHUHV
EFDUDFWHUHV
FFDUDFWHUHV
(QORVVLVWHPDVRSHUDWLYRV:LQGRZVSRUGHIHFWRORVDUFKLYRVGHDXGLRVH
JXDUGDQHQODFDUSHWD
D(VFULWRULR
E0LV,PiJHQHV
F0L0~VLFD
(QORVVLVWHPDVRSHUDWLYRV:LQGRZVODVFDUSHWDVRDUFKLYRVHQXVRDXQTXH
QRDSDUH]FDQHQSDQWDOODWLHQHQVXUHIHUHQFLDHQ
D/DEDUUDGHWDUHDV
E(OSDQHOGHFRQWURO
F/DEDUUDGHKHUUDPLHQWDV
(OVLVWHPDGHFRORUEDVHGHXQDSDQWDOODRPRQLWRUHV
D3$/
E&0<.
F5*%

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QORVVLVWHPDVRSHUDWLYRVGH:LQGRZVSDUDERUUDUXQREMHWRRLFRQRGHOD
SDQWDOODVHKDQGHUHDOL]DUODVVLJXLHQWHVRSHUDFLRQHV
D6HOHFFLRQDUORV\DUUDVWUDUORVDODSDSHOHUDGHUHFLFODMH
E 6HOHFFLRQDUORV \ SUHVLRQDU OD WHFOD 'HO FRQILUPiQGROR SRVWHULRUPHQWH HQ XQ
PHQ~
3DUD YHU HO FRQWHQLGR GH ORV VRSRUWHV GH LQIRUPDFLyQ GH PL VLVWHPD HQ
:LQGRZVGHER
D+DFHUFOLFVREUHHOLFRQR0L3&R(TXLSR
E+DFHUFOLFHQHOLFRQRGHDEULUGHODEDUUDGHKHUUDPLHQWDV
F3XOVDUVREUHHOERWyQLQLFLR\HVFRJHUODRSFLyQ7RGRVORV3URJUDPDV
3XHGRERUUDUGLUHFWDPHQWH\GHPDQHUDGHILQLWLYDXQDUFKLYRVLQUHFXUULUD
HQYLDUORSUHYLDPHQWHDODSDSHOHUDGHUHFLFODMHVHOHFFLRQiQGROR\
D3XOVDQGRODWHFOD'HO
E3XOVDQGRODWHFOD0D\~VFXODPiVODWHFOD'HO
F3DUDERUUDUORGHILQLWLYDPHQWHGHERQHFHVDULDPHQWHUHFXUULUDOD3DSHOHUDGH5HFL
FODMH
$O SXOVDU VREUH HO PHQ~ 9HU DOJXQDV RSFLRQHV HVWiQ PDUFDGDV D VX L]
TXLHUGDORTXHVLJQLILFDTXH
D1RHVWiQGLVSRQLEOHV
E1RVRQ~WLOHVHQHVHPRPHQWR
F<DHVWiQYLVLEOHV
$OGLEXMRRVLJQRTXHUHSUHVHQWDGHIRUPDLQWXLWLYDXQDRSFLyQDHVFRJHUVH
OHGHQRPLQD
D3DQHO
E%DUUD
F,FRQR
(QORVVLVWHPDVRSHUDWLYRV:LQGRZVVLVHSXOVDVREUHXQLFRQRUHSUHVHQ
WDQGR GRV UHFWiQJXORV R FXDGUDGRV VXSHUSXHVWRV \ TXH HVWi VLWXDGR HQ OD SDUWH
VXSHULRUGHUHFKDGHXQGRFXPHQWRDELHUWR\HQXVR
D6HFLHUUDGLFKRGRFXPHQWR
E6HUHGXFHVXYHQWDQD
F6XYHQWDQDRFXSDWRGDODSDQWDOOD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OLFRQRSDUDDFFHGHUD,QWHUQHWHV
D8QJORERGHOPXQGR
E8QGRFXPHQWRHQEODQFRFRQXQSLFRGREODGR
F/DOHWUDHPLQ~VFXOD
6HxDODUODRSFLyQFRUUHFWD
D8QELWVHFRPSRQHGHRFKRE\WHV
E8QE\WHVHFRPSRQHGHRFKRELWV
F8QELWVHFRPSRQHGHFXDWURE\WHV
/DSDUWHGHODPHPRULDSULQFLSDOGHFRQWHQLGRILMRHLQYDULDEOHTXHHMHFXWD
ODVDFFLRQHVGHDUUDQTXHGHORUGHQDGRUVHGHQRPLQD
D'LVFRGXUR
E5$0
F520
6LKDEODPRVGHXQFyGLJRLQWHUQDFLRQDOTXHRSHUDDQLYHOGHE\WH\TXHVH
XWLOL]DSDUDODUHSUHVHQWDFLyQGHFDUDFWHUHVQRVHVWDPRVUHILULHQGRD
D$6&,,
E%,75$7(
F7&3,3
&yPRVHGHQRPLQDDOFRQMXQWRGHSURJUDPDVTXHSUHSDUDQDORUGHQDGRU
SDUDTXHSXHGDLQWHUFRPXQLFDUVHFRQHOXVXDULR"
D%XV
E%LRV
F6LVWHPD2SHUDWLYR
&XiOGHORVVLJXLHQWHVIXQFLRQDFRPRXQPRGXODGRUGHPRGXODGRU"
D%XV
E(VFiQHU
F0yGHP
&yPR VH GHQRPLQD HO GLVSRVLWLYR KDUGZDUH TXH HV XQD PHPRULD GH WLSR
YROiWLOGRQGHVHDOPDFHQDQORVSURJUDPDVFXDQGRVHHMHFXWDQHQHORUGHQDGRU"
D520
E5$0
F(3520

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6HxDOHHQWUHODVVLJXLHQWHVODXQLGDGGHPHGLGDLQIRUPiWLFDPD\RU
D0HJDE\WH
EE\WH
F&DUiFWHU
&XiOHVHOOHQJXDMHTXHGLUHFWDPHQWHHMHFXWDHORUGHQDGRU"
D(QVDPEODGRU
E'HDOWRQLYHO
F/HQJXDMHPiTXLQD
4XpUHVSXHVWDQRVHFRUUHVSRQGHDKDUGZDUH"
D3XHUWR
E0RQLWRU
F'ULYHU
&RQTXpHOHPHQWRRSHULIpULFRGHXQRUGHQDGRUVHLGHQWLILFDQODVVLJODV
9*$"
D&RQODWDUMHWDJUiILFD
E&RQODLPSUHVRUD
F&RQHOUDWyQ
(O VLVWHPD GH DUFKLYRV GHQRPLQDGR 17)6 HV FRPSDWLEOH FRQ HO VLJXLHQWH
VLVWHPDRSHUDWLYR
D81,;
E:LQGRZV
F:LQGRZV17
8QHVTXHPDHVFULWRHQSVHXGRFyGLJRHQHOTXHVHSUHYpQWRGDVODVSRVLEL
OLGDGHVTXHSXHGHSUHVHQWDUXQSURJUDPDHQVXHMHFXFLyQHV
D8QDUFKLYRDXGLR
E8QDUFKLYRGHUHDOL]DFLyQGHWDUHDVSRUORWHV
F8QGLDJUDPDGHIOXMRV
8QSURJUDPD\DWHUPLQDGRSHURD~QQRFRPHUFLDOL]DGRTXHVHSRQHDGLV
SRVLFLyQGHGLVWLQWRVXVXDULRVSDUDTXHSXHGDQSUREDUOR\HYDOXDUORHV
D8QWXWRULDO
E8Q)UHHZDUH
F8QSURJUDPD%HWD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HFRQRFHFRPR$/8R8$/
D/DXQLGDGHQFDUJDGDGHODVRSHUDFLRQHVGHFRQWURO
E(OJHVWRUGHPHPRULD
F/DXQLGDGHQFDUJDGDGHODVRSHUDFLRQHVDULWPpWLFDVROyJLFDV
(QWUHODVPHGLGDVGHLQIRUPDFLyQTXHSRGHPRVWHQHUHQODPHPRULDGHORU
GHQDGRUHVWiHO0HJDE\WH,QGLTXHFXiQWRV.LORE\WHVFRUUHVSRQGHQDXQ0HJDE\WH
D.LORE\WHV
E.LORE\WHV
F.LORE\WHV
(QTXpSDUWHGHOD8&3VHGHWHUPLQDODVHFXHQFLDHQTXHVHKDQGHHMHFX
WDUODVLQVWUXFFLRQHV"
D0HPRULD&HQWUDO
E8QLGDG$ULWPpWLFR/yJLFD
F8QLGDGGH&RQWURO
(QUHODFLyQFRQODVEDUUDVGHGHVSOD]DPLHQWRGHODVDSOLFDFLRQHVSDUD:LQ
GRZVTXpDILUPDFLyQGHODVVLJXLHQWHVHVFLHUWD"
D3XHGHQXWLOL]DUVHSDUDFRSLDULQIRUPDFLyQHQWUHDSOLFDFLRQHV
E3HUPLWHQPLQLPL]DUPD[LPL]DURFHUUDUXQDYHQWDQDDELHUWD
F/DYHUWLFDOVyORVHUiYLVLEOHVLODLQIRUPDFLyQHVGHPDVLDGRH[WHQVDSDUDFDEHUHQOD
YHQWDQD
4Xp HOHPHQWR GH :LQGRZV SHUPLWH FRQILJXUDU \ SHUVRQDOL]DU HO VLVWHPD
DJUHJDURTXLWDUSURJUDPDVHWF"
D(O3DQHOGH&RQWURO
E(OLFRQR0L3&
F/DDSOLFDFLyQ5HVWDXUDUVLVWHPD
(Q:LQGRZVODFRPELQDFLyQGHWHFODV&75/=UHDOL]DODVLJXLHQWHDFFLyQ
D(OLPLQDU
E'HVKDFHU
F6HOHFFLRQDUWRGR
&XDQGR VH FRQHFWD XQ RUGHQDGRU HPSLH]D IXQFLRQDQGR HO VRIWZDUH GH
DUUDQTXHTXHLQVSHFFLRQDHOKDUGZDUH\FDUJDHOVLVWHPDRSHUDWLYR'yQGHUHVLGH
DTXHOVRIWZDUH"
D(QPHPRULD520
E(QHOGLVFRGXUR
F(QPHPRULD5$0

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OHOHPHQWREiVLFRGHYLVXDOL]DFLyQGHOYtGHRHQPRGRJUiILFRFRUUHVSRQ
GLHQWHDOPRQLWRUGHXQRUGHQDGRUVHGHQRPLQD
D3t[HO
E%XIIHU
F7DUMHWDJUiILFD
4Xp GLVWLQJXH HVSHFLDOPHQWH XQ LFRQR GH DFFHVR UiSLGR GH RWUR TXH QR
WHQJDHVWDFRQVLGHUDFLyQ"
D4XHVRQGHWDPDxRPD\RUDOQRUPDO
E4XHQRWLHQHQWtWXORLGHQWLILFDWLYRGHVXDFFLyQ
F4XHSRVHHQXQDSHTXHxDIOHFKDLQFOLQDGD
3DUDTXpVLUYHHO86%GHXQRUGHQDGRU"
D&RPRGLVSRVLWLYRWHUPLQDOGHVDOLGDGHGDWRV
E3DUDODFRQH[LyQGHSHULIpULFRVFRPRODLPSUHVRUD
F3DUDHOYLVLRQDGRGHDUFKLYRV
/DVH[WHQVLRQHVWUHVOHWUDVGHVSXpVGHOSXQWRHQHOQRPEUHGHOILFKHUR
LQGLFDQD:LQGRZV
D(OWLSRGHILFKHUR\SHUPLWHDVRFLDUORDXQDDSOLFDFLyQFRQODTXHDEULUOR
E/DHPSUHVDSURSLHWDULDGHOILFKHUR
F(OXVXDULRTXHKDFUHDGRHOILFKHUR
6LXQDLPSUHVRUDLPSULPHD330TXLHUHGHFLUTXH
D,PSULPHDSXQWRVSRUPLOtPHWUR
E,PSULPHSiJLQDVDOPLVPRWLHPSR
F3XHGHLPSULPLUSiJLQDVSRUPLQXWR
&XiOGHODVVLJXLHQWHVUHVSXHVWDVFRQWLHQHWpUPLQRVTXHQRVHFRUUHVSRQ
GHQFRQXQVLVWHPDRSHUDWLYR"
D/LQX[
E$0'$7+/21;3
F:LQGRZV9LVWD
6HHQWLHQGHSRUFDSDFLGDGGHPHPRULDGHXQRUGHQDGRU
D/DSRVLELOLGDGGHHQOD]DUFRQORVSHULIpULFRV
E/RVE\WHVTXHSXHGHFRQWHQHUODPHPRULDFHQWUDO
F/DFDQWLGDGGHE\WHVTXHSXHGHDOPDFHQDUXQGLVFRGXUR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OSURJUDPDDOPDFHQDGRHQXQFKLSGHPHPRULDTXHFRQWLHQHHOVLVWHPD
EiVLFRGHHQWUDGDVDOLGDGHXQRUGHQDGRUVHGHQRPLQD
D%,26
E0LFURSURFHVDGRU
F&KLSGHPHPRULD5$0
(QLQIRUPiWLFDTXpHVXQVRSRUWHGLUHFFLRQDEOH"
D$TXHOTXHSXHGHVHUUHXWLOL]DGR
E$TXHOHQTXHHODFFHVRDODLQIRUPDFLyQHVGLUHFWR
F$TXHOTXHSDUDHQFRQWUDUXQDLQIRUPDFLyQUHTXLHUHTXHVHOHDWRGDODLQIRUPDFLyQ
JUDEDGDFRQDQWHULRULGDG
8QDPHPRULDTXHVXHOHQGLVSRQHUORVPLFURSURFHVDGRUHV\FX\DPLVLyQHV
DFHOHUDUHOSURFHVRDODOPDFHQDUHQVXLQWHULRUODSDUWHGHOPLVPRPiVUHSHWLWLYD
JXDUGDGDHQOD5$0UHFLEHHOQRPEUHGH
D0HPRULD%XIIHU
E0HPRULDSULQFLSDO
F0HPRULDFDFKp
(Q:LQGRZVSDUDDXPHQWDUODYHORFLGDGGHDFFHVRDORVILFKHURVXWLOL]D
UHPRV
D(OSURJUDPD'HVIUDJPHQWDGRU
E(OSURJUDPD6FDQGLVN
F(OSURJUDPDGH&RQWURO
6LVHIRUPDWHDtQWHJUDPHQWHODXQLGDGGHOGLVFRGXUR
D6HSHUGHUiQWRGRVORVGDWRVSHURQRHOVLVWHPDRSHUDWLYR
E6HSHUGHUiQWRGRVORVGDWRVLQFOXLGRHOVLVWHPDRSHUDWLYR
F(OGLVFRGXURQRVHSXHGHIRUPDWHDU
:LQGRZV XWLOL]D SDUD HO DOPDFHQDPLHQWR \ UHFXSHUDFLyQ GH VRIWZDUH XQD
HVWUXFWXUDMHUiUTXLFDEDVDGDHQWUHVHOHPHQWRVTXHVRQ
D8QLGDGHVFDUSHWDV\ILFKHURV
E&DUDFWHUHVFDPSRV\ILFKHURV
F%DVHGH'DWRVFDPSRV\FDUDFWHUHV
(QLQIRUPiWLFDTXpQRPEUHUHFLEHHOGLVSRVLWLYRTXHDOPDFHQDLQIRUPD
FLyQSRUWLHPSRLQGHILQLGR"
D3HULIpULFR
E0HPRULD5$0
F6RSRUWHGHLQIRUPDFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LSXOVDPRVFRQHOERWyQGHUHFKRGHOUDWyQRWRXFKSDGVREUHXQD]RQDOLEUH
GHLFRQRVGHOHVFULWRULRTXpPRVWUDUiODSDQWDOOD"
D/DEDUUDGHKHUUDPLHQWDVGHOHVFULWRULR
E(OFRQWHQLGRGHOSRUWDSDSHOHV
F(OPHQ~FRQWH[WXDOGHOPLVPR
6HWUDWDGHXQD]RQDGHPHPRULDTXH:LQGRZVXWLOL]DFRPRDOPDFHQDPLHQ
WRWHPSRUDOSDUDWUDQVIHULUGDWRVQRVUHIHULPRVD
D(OGLVFRGXUR
E(OSRUWDSDSHOHV
F/DSDSHOHUDGHUHFLFODMH
(Q:LQGRZVSDUDVDEHUHOHVSDFLROLEUH\HORFXSDGRGHXQGLVFRGXURR
FXDOTXLHURWURVRSRUWHGHLQIRUPDFLyQGHEHUHPRV
D8VDUODEDUUDGHKHUUDPLHQWDV
E+DFHUFOLFHQODVRODSDRSHVWDxDGHODILFKD
F6HOHFFLRQDUODRSFLyQ3URSLHGDGHVGHVXPHQ~FRQWH[WXDO
$TXpWLSRGHSHULIpULFRSHUWHQHFHHOOiSL]ySWLFR"
D3HULIpULFRGHHQWUDGD
E3HULIpULFRGHVDOLGD
F3HULIpULFRGHHQWUDGDVDOLGD
(Q:LQGRZVSDUDYHULILFDUHOGLVFRHQEXVFDGHHUURUHVXWLOL]DUHPRV
D(OSURJUDPD%DFNXS
E(OSURJUDPD6FDQGLVN
F(OSURJUDPD'HVIUDJPHQWDGRU
&yPRVHGHQRPLQDHOHGLWRUPiVVLPSOHTXHSURSRUFLRQDFRPRDFFHVRULR
HOVLVWHPDRSHUDWLYR:LQGRZV"
D0LFURVRIW:RUG
E%ORFNGH1RWDV
F:RUG3DG
/RVVLVWHPDV:LQGRZVPDQWLHQHQXQHOHPHQWRGHOVLVWHPDRSHUDWLYR06
'26TXHPXHVWUDXQDSDQWDOODHQQHJURSDUDWUDEDMDULQWURGXFLHQGRFRPDQGRVGH
HVHVLVWHPD&yPRVHGHQRPLQDHVDXWLOLGDG"
D0DSDGHFDUDFWHUHV
E6tPERORGHOVLVWHPD
F3DQHOGHFRQWURO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DEDUUDGHFXDOTXLHUDSOLFDFLyQTXHFRUUDPRVHQ:LQGRZVTXHFRQWLHQH
ODVRSFLRQHVPiVXVXDOHVGHGLFKDDSOLFDFLyQVHGHQRPLQD
D%DUUDGHHVWDGR
E%DUUDGHKHUUDPLHQWDV
F%DUUDGHPHQ~V
&XDQGRHQ:LQGRZVKDEODPRVGHSDSHOWDSL]DTXpQRVHVWDPRVUHILULHQGR"
D$OIRQGRGHHVFULWRULR
E$XQIRUPDWRHVSHFLDOGHWDPDxRGHSDQWDOOD
F$XQHVWLORGHSHUVRQDOL]DUGH:LQGRZV
(QTXpVHGLIHUHQFLDFHUUDUVHVLyQGHDSDJDUVLVWHPDHQWUHODVRSFLRQHV
GHFHUUDGRGH:LQGRZV"
D$PEDVRSFLRQHVVLJQLILFDQORPLVPR
E&XDQGRVHFLHUUDODVHVLyQVHDSDJDHORUGHQDGRU\FXDQGRVHDSDJDHOVLVWHPDVH
UHDOL]DXQUHVHW
F&XDQGRVHFLHUUDODVHVLyQSHUPLWHLQLFLDURWUDFRQXQQXHYRXVXDULRRFRQHOPLVPR
(QHO([SORUDGRUGH:LQGRZVTXpQRPEUHUHFLEHHOPDUFRVLWXDGRHQHO
ODGRL]TXLHUGRGHODSDQWDOOD"
DUEROGHGLUHFWRULRV
E9HQWDQDGHFRQWHQLGRGHFDUSHWDV
F5HODFLyQGHSULRULGDG
/DRSFLyQGH0HQ~GH,QLFLRTXHQRVSHUPLWHFRQILJXUDUDGHFXDGDPHQWH
QXHVWURRUGHQDGRUSDUDORFXDOGLVSRQHGHLFRQRVFRUUHVSRQGLHQWHVDODSDQWDOOD
DOWHFODGRD,QWHUQHWHWFVHGHQRPLQD
D(TXLSR
E0L3&
F3DQHOGH&RQWURO
&yPRSRGHPRVDEULU3DLQW"
D'HVGHHOLFRQRGHDFFHVRUiSLGRTXHSRUGHIHFWRVHHQFXHQWUDHQHOHVFULWRULR
E'HVGH$FFHVRULRVDODEULU7RGRVORVSURJUDPDVGHO0HQ~GHLQLFLR
F'HVGHHOPHQ~GH+HUUDPLHQWDVGHO0HQ~GH,QLFLR
4XpDFFLyQVHUHDOL]DDOUHVWDXUDUGHVGHODSDSHOHUDGHUHFLFODMH
D4XHYROYHPRVDFRORFDUHOREMHWRERUUDGRHQVXXELFDFLyQLQLFLDO
E4XHDEULPRVHOREMHWRVHOHFFLRQDGRGHVGHODSDSHOHUDGHUHFLFODMH
F4XHLQVWDODPRVHQHOVLVWHPDXQDFRQILJXUDFLyQDQWHULRUDODDFWXDO

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/LQX[HVXQVLVWHPDRSHUDWLYR
D0RQRWDUHD
E0RQRXVXDULR
F'HVRIWZDUHOLEUH
4XpWLSRVGHPRQLWRUHVH[LVWHQHQODDFWXDOLGDGHQDWHQFLyQDODWHFQR
ORJtDXWLOL]DGD
D'HWHFQRORJtD5*%\R&0<.
E'H/&'\&57
F0DWULFLDOHV\7iFWLOHV
/DVFDQDOL]DFLRQHVSRUGRQGHFLUFXODQODVVHxDOHVGHGDWRVGLUHFFLRQHV\
FRQWUROTXHKDFHQIXQFLRQDUHOVLVWHPDLQIRUPiWLFRGHXQRUGHQDGRUVHOODPDQ
D3XHUWRV
E%XV
F3ODFDEDVH
6LGHFLPRVGHHOODTXHHVWiFRPSDUWLPHQWDGDHQFHOGLOODVOODPDGDVSRVL
FLRQHVGHPHPRULDFDGDXQDGHODVFXDOHVUHFLEHXQDGLUHFFLyQGHPHPRULD~QLFD
HVWDPRVKDEODQGRGH
D0HPRULDFDFKp
E5$0
F0HPRULDYLUWXDO
(QTXpWHFQRORJtDVHSXHGHQHQFXDGUDUDORVSHQGULYHV"
D7HFQRORJtDPDJQpWLFD
E7HFQRORJtDySWLFD
F7HFQRORJtDHOHFWUyQLFD
4XpVRSRUWHGHLQIRUPDFLyQKDVWDODIHFKDWLHQHPHMRUUHODFLyQFDSDFL
GDGSUHFLR"
D/RVGLVFRVGXURVGHWHFQRORJtDPDJQpWLFD
E/RV'9'VGHWHFQRORJtDySWLFD
F/DVPHPRULDVIODVK
&XiQWDVSDUWLFLRQHVSULPDULDVSXHGHQUHDOL]DUVHHQXQGLVFRGXUR"
D+DVWDFXDWUR
E1RH[LVWHOtPLWH
F'RVSULPDULDV\GRVPiVH[WHQGLGDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&yPRVHFRQRFHQDORVLFRQRVVLWXDGRVHQODEDUUDGHWDUHDV\GHVGHORV
FXDOHVVHSXHGHDFFHGHUDODVDSOLFDFLRQHVTXHUHSUHVHQWDQFRQXQVyORFOLFHQHO
UDWyQ"
D'HDFFHVRGLUHFWR
E'HDFFHVRUiSLGR
F'HDFFHVRSULQFLSDO
8QDSDUWLFLyQH[WHQGLGD
D(VXQDGHODVSDUWLFLRQHVSULPDULDV
E6HGHQRPLQDLJXDOPHQWHYLUWXDO
F6LUYHH[FOXVLYDPHQWHSDUDDPSOLDUODPHPRULD5$0
&yPRVHGHQRPLQDQJHQpULFDPHQWHHQORVVLVWHPDVRSHUDWLYRV:LQGRZV
ODV]RQDVGHOGLVFRGXURGRQGHVHDOPDFHQDQORVILFKHURVTXHVHYDQDHMHFXWDU\
TXHQRFDEHQHQODPHPRULD5$0"
D3DUWLFLRQHV
E&OXVWHU
F$UFKLYRVGHSDJLQDFLyQ
/RVLFRQRVTXHVLWXDPRVHQODSDQWDOODGHOHVFULWRULRHQVXSDUWHFHQWUDO
SDUDDFFHGHUGHXQDIRUPDLQPHGLDWDDVXFRQWHQLGRVHOODPDQ
D'HDFFHVRGLUHFWR
E'HDFFHVRUiSLGR
F'HDFFHVRVHFXHQFLDO
/DHYROXFLyQGHODVPHPRULDV520FOiVLFDVORHVKDFLDRWURWLSRGHPH
PRULDGHQRPLQDGR
D0HPRULD5$0
E0HPRULD9LUWXDO
F0HPRULD)ODVK
&XDQGRORVGLVWLQWRVGLVFRVGXURVGHXQVLVWHPDLQIRUPiWLFRHVWiQLQWHJUD
GRVHQXQ~QLFRGLVFRItVLFRDFDGDXQRGHHOORVVHOHVOODPD
D0HPRULDFDFKp
E3DUWLFLyQ
F'LVFRGXURYLUWXDO
4XpRSFLyQVHDEUHFXDQGRVLWXDGRHOFXUVRUGHOUDWyQVREUHHOERWyQGH
LQLFLRVHSXOVDHOERWyQGHUHFKR"
D(O([SORUDGRUGH:LQGRZV
E(OPHQ~GHLQLFLRFRPSOHWR
F(O3DQHOGH&RQWURO

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
F3DUDDFFHGHUPiVUiSLGRDORVILFKHURV\FDUSHWDVGHPiVXVR
E1RHVXQDDFFLyQLUUHYHUVLEOH
F$\XGDQWH
D(VFULWRULR
E(OWDPDxRGHLFRQRV\OHWUDVVHKDFHPiVSHTXHxR
F/DFRQILJXUDFLyQLQGLYLGXDOGHFDGDXVXDULRGHXQPLVPRRUGHQDGRU
F3OXJDQG3OD\
F'HVIUDJPHQWDU
E6HOHFFLRQDUFRUWDU\SHJDU
F/DVGRVIXQFLRQHVDQWHULRUHVVHSXHGHQUHDOL]DU
F&RQHOSXQWHURGHOUDWyQVREUHOD%DUUDGH7tWXORGHODYHQWDQDDUUDVWUDUODKDVWD
VXQXHYDXELFDFLyQPLHQWUDVVHPDQWLHQHSXOVDGRHOERWyQL]TXLHUGR
E-HUiUTXLFD
0L3&R(TXLSRHQRWUDVYHUVLRQHVGH:LQGRZV
E8QWUDGXFWRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E3ORWWHU
E3t[HOHV
F'HODPHPRULD5$0
E5HVWDXUDUVLVWHPD'HVIUDJPHQWDGRUGHGLVFR
E/D8QLGDG&HQWUDOGH3URFHVR
F/HQJXDMHGHDOWRQLYHO
D+DGHFDUJDUVHSUHYLDPHQWHHQODPHPRULDFHQWUDO
F'HOD8QLGDGGHFRQWURO
E8QSURJUDPD\DFDUJDGRHQPHPRULD
D8QWUDGXFWRUGHOHQJXDMHGHDOWRQLYHODFyGLJRPiTXLQD
F$SDJDUHORUGHQDGRUSDUDYROYHUDFRQHFWDUOR
F8QPRGXODGRUGHPRGXODGRUTXHFRQYLHUWHVHxDOHVDQDOyJLFDVHQGLJLWDOHV
F&yGLJRREMHWR
E0DWULFLDO
D5$0
F&0<.
D6LVWHPD2SHUDWLYR
E/D8QLGDGGH&RQWURO\OD8$/
F/RVOHQJXDMHVGHSURJUDPDFLyQ
E(O06'26
F3RUWDIROLRVRSRUWDSDSHOHV
E:LQGRZV;3
F(VFULWRULR
F(OGHOPHQ~GHLQLFLR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F$SDUHFHFXDQGRSDVDPRVHOSXQWHURGHOUDWyQVREUHXQLFRQRGHOHVFULWRULR
D/DEDUUDGHWtWXOR
E0HQ~FRQWH[WXDO
F9HQWDQDHPHUJHQWH
D2FXOWDUODYHQWDQDDXQTXHVXFRQWHQLGRFRQWLQ~HHQPHPRULD
D/DEDUUDGHWDUHDV
E/DKRUD
F/OHYDUORDODSDSHOHUDGHUHFLFODMH\YDFLDUpVWD
DFDUDFWHUHV
F0L0~VLFD
D/DEDUUDGHWDUHDV
F5*%
D+DFHUFOLFVREUHHOLFRQR0L3&R(TXLSR
E3XOVDQGRODWHFOD0D\~VFXODPiVODWHFOD'HO
F<DHVWiQYLVLEOHV
F,FRQR
E6HUHGXFHVXYHQWDQD
F/DOHWUDHPLQ~VFXOD
E8QE\WHVHFRPSRQHGHRFKRELWV
F520
D$6&,,
F6LVWHPD2SHUDWLYR
F0yGHP
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E5$0
D0HJDE\WH
F/HQJXDMHPiTXLQD
F'ULYHU
D&RQODWDUMHWDJUiILFD
F:LQGRZV17
F8QGLDJUDPDGHIOXMRV
F8QSURJUDPD%HWD
F/DXQLGDGHQFDUJDGDGHODVRSHUDFLRQHVDULWPpWLFDVROyJLFDV
D.LORE\WHV
F8QLGDGGH&RQWURO
F/DYHUWLFDOVyORVHUiYLVLEOHVLODLQIRUPDFLyQHVGHPDVLDGRH[WHQVDSDUDFDEHU
HQODYHQWDQD
D(O3DQHOGH&RQWURO
E'HVKDFHU
D(QPHPRULD520
D3t[HO
F4XHSRVHHQXQDSHTXHxDIOHFKDLQFOLQDGD
E3DUDODFRQH[LyQGHSHULIpULFRVFRPRODLPSUHVRUD
D(OWLSRGHILFKHUR\SHUPLWHDVRFLDUORDXQDDSOLFDFLyQFRQODTXHDEULUOR
F3XHGHLPSULPLUSiJLQDVSRUPLQXWR
E$0'$7+/21;3
E/RVE\WHVTXHSXHGHFRQWHQHUODPHPRULDFHQWUDO
D%,26

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E$TXHOHQTXHHODFFHVRDODLQIRUPDFLyQHVGLUHFWR
F0HPRULDFDFKp
D(OSURJUDPD'HVIUDJPHQWDGRU
E6HSHUGHUiQWRGRVORVGDWRVLQFOXLGRHOVLVWHPDRSHUDWLYR
D8QLGDGHVFDUSHWDV\ILFKHURV
F6RSRUWHGHLQIRUPDFLyQ
F(OPHQ~FRQWH[WXDOGHOPLVPR
E(OSRUWDSDSHOHV
F6HOHFFLRQDUODRSFLyQ3URSLHGDGHVGHVXPHQ~FRQWH[WXDO
D3HULIpULFRGHHQWUDGD
E(OSURJUDPD6FDQGLVN
E%ORFNGH1RWDV
E6tPERORGHOVLVWHPD
E%DUUDGHKHUUDPLHQWDV
D$OIRQGRGHHVFULWRULR
F&XDQGRVHFLHUUDODVHVLyQSHUPLWHLQLFLDURWUDFRQXQQXHYRXVXDULRRFRQHOPLVPR
DUEROGHGLUHFWRULRV
F3DQHOGH&RQWURO
E'HVGH$FFHVRULRVDODEULU7RGRVORVSURJUDPDVGHO0HQ~GHLQLFLR
D4XHYROYHPRVDFRORFDUHOREMHWRERUUDGRHQVXXELFDFLyQLQLFLDO
F'HVRIWZDUHOLEUH
E'H/&'\&57
E%XV
E5$0
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F7HFQRORJtDHOHFWUyQLFD
D/RVGLVFRVGXURVGHWHFQRORJtDPDJQpWLFD
D+DVWDFXDWUR
E'HDFFHVRUiSLGR
D(VXQDGHODVSDUWLFLRQHVSULPDULDV
F$UFKLYRVGHSDJLQDFLyQ
D'HDFFHVRGLUHFWR
F0HPRULD)ODVK
E3DUWLFLyQ
E3DUWLFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
352&(6$'25'(7(;7260,&5262)7:25'(/(0(1726%6,&26(/
$<8'$17(23(5$&,21(6%6,&$6)250$72'(&$5&7(5355$)2
<3*,1$&255(&&,1'(817(;72,035(6,1&2/801$6
7$%8/$&,21(67$%/$6*5),&26
(QTXpFRQVLVWHHO$XWRWH[WRGH0LFURVRIW:RUG"
D(QTXHPLHQWUDVVHYDHVFULELHQGRVHYDFRUULJLHQGRHOWH[WRHVFULWR
E(QODSRVLELOLGDGGHLQVHUWDUGLUHFWDPHQWHWH[WRRJUiILFRVSUHYLDPHQWHJXDUGDGRV
F(QFRUUHJLUHOWH[WRHVFULWRFXDQGRVHHOLJHHVWDRSFLyQ
(Q:RUGSDUDJHQHUDUGRFXPHQWRVFRQWH[WRVSUHGHWHUPLQDGRVGHLJXDOIRU
PDWRVHXWLOL]D
D(ODXWRWH[WR
E/DVSODQWLOODV
F/DVPDFURV
'HFXiOGHODVVLJXLHQWHVPDQHUDVQRHVFRUUHFWRVXSULPLUXQSiUUDIRGHXQ
WH[WRGH:RUG"
D6HOHFFLRQDUHOWH[WR\SXOVDUVXSULPLU
E6HOHFFLRQDUHOWH[WR\SXOVDUFRQHOERWyQGHUHFKRGHOUDWyQSDUDHOHJLUODRSFLyQ
FRUWDU
F6HOHFFLRQDUHOWH[WR\SXOVDUODRSFLyQGHVKDFHUGHOD%DUUDGH+HUUDPLHQWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiO HV OD %DUUD TXH FRQWLHQH ODV IXQFLRQHV PiV XVDGDV HQ 0LFURVRIW
:RUG"
D/DGH7tWXOR
E/DGH+HUUDPLHQWDV
F/DGH0HQ~
(QTXpEDUUDVHHQFXHQWUDQWRGDVODVIXQFLRQHVTXHSXHGHUHDOL]DU0LFUR
VRIW:RUG"
D(QOD%DUUDGH0HQ~V
E(QOD%DUUDGH(VWDGR
F(QOD%DUUDGH+HUUDPLHQWDV
$OLQWHQWDUFHUUDU:RUGVLQKDEHUFHUUDGRSUHYLDPHQWHORVGRFXPHQWRVTXH
VHHVWpQHGLWDQGR
D4XHGDQGLFKRVGRFXPHQWRVDFWLYRV\PRVWUDGRVHQODEDUUDGHWDUHDV
E6HFLHUUDODDSOLFDFLyQ\ORVGRFXPHQWRVVLQTXHVHJXDUGHQORVFDPELRVLQWURGXFL
GRVHQHOORV
F6HYDQPRVWUDQGRPHQ~VSUHJXQWDQGRVLVHTXLHUHJXDUGDUSUHYLDPHQWHFDGDXQR
GHORVGRFXPHQWRVDFWLYRV
'yQGHHVWiQVLWXDGRVORVERWRQHVGHSUHVHQWDFLyQRIRUPDGHYLVXDOL]DFLyQ
GHOGRFXPHQWRHQSDQWDOOD"
D-XQWRDODEDUUDGHGHVSOD]DPLHQWRKRUL]RQWDO
E(QODEDUUDGHHVWDGR
F(QODEDUUDGHWDUHDV
(O$\XGDQWHGH2IILFHHV
D8QVLVWHPDGHSDQWDOODVFRQGLVWLQWDVRSFLRQHV
E8QDVHULHGHPHQ~VGRQGHVHSXHGHLQWURGXFLUODLQIRUPDFLyQVROLFLWDGD
F8QJUiILFRDQLPDGR
3XOVDQGRVLPXOWiQHDPHQWHODVWHFODV>&WUO@\>$Y3iJ@VHSURGXFHODVLJXLHQWH
DFFLyQ
D6HSDVDHOFXUVRUDOVLJXLHQWHSiUUDIR
E6HSDVDHOSXQWRGHLQVHUFLyQDODSiJLQDVLJXLHQWH
F6HSDVDHOFXUVRUDOILQDOGHOGRFXPHQWR
&yPRVHGHQRPLQDODOHWUDTXHILJXUDHQSULPHUOXJDUHQXQWH[WRJHQHUDO
PHQWHSHULRGtVWLFR\TXHDSDUHFHPX\GHVWDFDGDVREUHODVGHPiVLQFOXVRDYHFHV
GHIRUPDDUWtVWLFD"
D3ULPDULD
E&DSLWDO
F:RUG$UW

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DRSFLyQSDUDLQVHUWDUXQDPDUFDGHDJXDHQXQGRFXPHQWRVHHQFXHQ
WUDHQ
D(QHOPHQ~9HU
E(QHOPHQ~)RUPDWR
F(QHOPHQ~,QVHUWDU
+DFLHQGRXQVRORFOLFHQHOWH[WRFRQHOERWyQL]TXLHUGRGHOUDWyQ
D6HOHFFLRQDPRVODOHWUDVREUHODTXHHVWpVLWXDGRHOSXQWHUR
E6HOHFFLRQDPRVODSDODEUDVREUHODTXHHVWpVLWXDGRHOSXQWHUR
F&DPELDPRVHOSXQWRGHLQVHUFLyQDOOXJDUGRQGHHVWpVLWXDGRHOSXQWHUR
/DVSRVLFLRQHVILMDVDODVFXDOHVVHGHVSOD]DHOFXUVRUFXDQGRSXOVDPRVOD
WHFOD>7DE@VHGHQRPLQDQ
D7DEXODFLRQHV
E6DQJUtDV
F$OLQHDFLRQHV
(OLFRQRSDUDFRSLDUIRUPDWRHQ0LFURVRIW:RUGYLHQHUHSUHVHQWDGRSRUXQ
ERWyQFRQ
D8QDODWD
E8QDEURFKD
F8QDOXSD
6H SXHGH FDPELDU GH GRFXPHQWR DFWLYR HQ SDQWDOOD GH XQD IRUPD UiSLGD
FRPELQDQGRODVWHFODV
D>$OW@\>)@
E>&WUO@\>)@
F>$OW@\>)@
3DUDFHUUDUHOSURJUDPD0LFURVRIW:RUG
D+DFHPRVFOLFVREUHXQLFRQRFRQXQDVSDTXHH[LVWHHQODEDUUDGHWtWXOR
E+DFHPRVFOLFVREUHXQLFRQRFRQDVSDTXHH[LVWHHQODEDUUDGHPHQ~
F+DFHPRVFOLFVREUHODRSFLyQ*XDUGDUGHOPHQ~$UFKLYR
(OSXQWHURGHOUDWyQGHQWURGHXQGRFXPHQWRTXHHVWDPRVHGLWDQGRDSDUH
FHSRUGHIHFWRFRQODIRUPDGH
D8QDEDUUDOLVDYHUWLFDO
E8QDIOHFKDLQFOLQDGD
F8QDEDUUDYHUWLFDOOLPLWDGDSRUVXVH[WUHPRVFRQGRVPiVSHTXHxDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XDQGRSXOVDPRVODVWHFODVGHGLUHFFLyQ
D0RYHPRVHOSXQWHURGHOUDWyQ
E0RYHPRVHOSXQWRGHLQVHUFLyQ
:RUGDOPDFHQDSRUGHIHFWRORVGRFXPHQWRVHQ
D/DFDUSHWD0LV'RFXPHQWRV
E(O(VFULWRULR
F(O3RUWDIROLRV
(Q:RUGVHSXHGHLQVHUWDU
D8QDLPDJHQ
E8QGLDJUDPD
6LVLWXDPRVHOSXQWHURGHOUDWyQHQHOPDUJHQGHOGRFXPHQWRpVWHDGRSWD
ODIRUPD
D'HUHORMGHDUHQD
E/DPLVPDTXHWLHQHHQVLWXDGRHQFXDOTXLHUSDUWHGHOGRFXPHQWR
F'HIOHFKDLQFOLQDGD
6HxDOHGHHQWUHORVVLJXLHQWHVDTXHOTXHFRQVLGHUHXQSDTXHWHGHVRIW
ZDUHLQWHJUDGR
D0LFURVRIW2IILFH
E0LFURVRIW:RUG
F'EDVH,9
4XpHVXQDIXHQWHHVFDODEOH"
D$TXHOODTXHSXHGHFDPELDUGHGLPHQVLyQVLQTXHSLHUGDFDOLGDGVXFRQWRUQR
E8QFyGLJRHVFULWRHQOHQJXDMHGHDOWRQLYHO
F8QWLSRGHOHWUDTXHQRSXHGHFDPELDUGHWDPDxR
$O SXOVDU HO LFRQR TXH UHSUHVHQWD XQ GLVTXHWH HQ HO SURJUDPD 0LFURVRIW
:RUGHOGRFXPHQWRHQSURFHVR
D6HFRSLDHQXQVRSRUWH\VHFRQWLQ~DHGLWDQGR
E6HFRSLDHQXQVRSRUWH\VHVDOHGHOSURJUDPD
F6HDEUHRWURGRFXPHQWR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QHOSURFHVDGRUGHWH[WR0LFURVRIW:RUGHOKHFKRGHTXHXQDSDODEUDDSD
UH]FDVXEUD\DGDFRQXQDOtQHDRQGXODGDGHFRORUYHUGHLQGLFDTXH
D6HKDVHOHFFLRQDGRHVWDSDODEUD
E([LVWHXQHUURUJUDPDWLFDO
F4XHQRVDOHFXDQGRVHLPSULPD
6LKDELHQGRVHOHFFLRQDGRXQWUR]RGHSiUUDIRKDFHPRVFOLFVREUHXQLFRQR
HQIRUPDGHERWyQFRQODOHWUD1
D(OHVWLORGHOWH[WRSDVDUiDQHJULWD
E(OWH[WRVHOHFFLRQDGRVHERUUDUi
F7RGRHOSiUUDIRSDVDUiDHVWDUVXEUD\DGR
$TXpPHQ~SHUWHQHFHHOGHVSOHJDEOHGHRUWRJUDItD\JUDPiWLFD"
D$OPHQ~(GLFLyQ
E$OPHQ~+HUUDPLHQWDV
F$ODEDUUDGHWtWXORV
(QTXpPHQ~HVWiODFRQILJXUDFLyQGHSiJLQD"
D(QHOPHQ~$UFKLYR
E(QHOPHQ~(GLFLyQ
F(QHOPHQ~9HU
&yPRVHGHQRPLQDQODVSRVLFLRQHVILMDVDODVTXHVHSXHGHGLULJLUHOSXQWR
GHLQVHUFLyQDOSXOVDUVREUHODWHFOD7$%"
D0iUJHQHV
E6DQJUtD
F7DEXODFLRQHV
6HxDOHHQWUHODVVLJXLHQWHVUHVSXHVWDVXQDTXHFRQWHQJDHOQRPEUHGHXQD
IXHQWH
D:\VLZ\J
E&RXULHU
F3OXJLQ
8QD RSFLyQ GH XQ PHQ~ GHVSOHJDEOH TXH WHQJD SXQWRV VXVSHQVLYRV QRV
HVWiLQGLFDQGRTXH
D(VWDRSFLyQHVWi\DHQXVR
E(VWDRSFLyQQRHVWiGLVSRQLEOH
F6LKDFHPRVFOLFVREUHHOODVHDEULUiXQDYHQWDQDGHGLiORJR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OWLSRGHOHWUDGHXQHVFULWRVHSXHGHHVFRJHURFDPELDUDWUDYpVGHOPHQ~
D*UiILFRV
E)RUPDWR
F$XWRWH[WR
(QTXpEDUUDVHLQGLFDHOQ~PHURGHSiJLQDTXHHQHVHLQVWDQWHVHPXHVWUD
HQSDQWDOODHQHOSURFHVDGRUGHWH[WR0LFURVRIW:RUG"
D(QODEDUUDGHHVWDGR
E(QODEDUUDGHWDUHDV
F(QODEDUUDGHPHQ~
4XpDFFLyQRFXUUHVLKDFHPRVFOLFVREUHXQLFRQRFRQXQDIOHFKDLQFOLQDGD
KDFLDDUULED\XQLQWHUURJDQWH"
D,QGLFDTXHKHPRVOOHJDGRDOILQDOGHXQHVFULWR
E(OFXUVRUVHFRQYLHUWHHQIOHFKDFRQLQWHUURJDQWH\QRVGDXQDD\XGDVREUHHOHOH
PHQWRVHOHFFLRQDGR
F1RVJXDUGDHOGRFXPHQWRDFWXDODXQTXHSRGHPRVFRQWLQXDUHGLWiQGROR
6LQRVVLWXDPRVFRQHOFXUVRUHQHOPDUJHQL]TXLHUGRGHOHVFULWRGHWDOIRU
PDTXHDSDUHFHXQDIOHFKDDODDOWXUDGHXQDOtQHDTXpDFFLyQRFXUUHVLKDFHPRV
XQGREOHFOLFFRQHOUDWyQ"
D4XHVHOHFFLRQDPRVWRGRHOSiUUDIRHQHOTXHHVWDPRVVLWXDGRV
E4XHVHOHFFLRQDPRVWRGDODOtQHDVHxDODGD
F4XHVHOHFFLRQDPRVODSDODEUDVLJXLHQWHDODTXHHVWiVLWXDGDODIOHFKD
3DUDGHVKDFHUDOJR0LFURVRIW:RUGWLHQHGHVWLQDGDXQDDFFLyQHVSHFtILFD
PHQWH
D3XOVDUODWHFOD$Y3iJ
E3XOVDUODWHFOD5HSiJ
F+DFHUFOLFVREUHXQLFRQRFRQXQDIOHFKDFXUYDGDDODL]TXLHUGD
(OWH[WRTXHSHUPLWHGHVSOD]DUVHDRWURDUFKLYRFRQVyORSXOVDUVREUHpOVH
OODPD
D+70/
E%RRNPDUN
F+LSHUWH[WR
8QDUFKLYRLQIRUPiWLFRUHDOL]DGRFRQXQSURJUDPDHVOODPDGRSRURWURVRIWZDUH
GHOPLVPRWLSR&yPRVHOODPDHVWDRSHUDFLyQ"
D7UDVODGDU
E&RSLDU
F,PSRUWDU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&XDQGRODSULPHUDOtQHDFRPLHQ]DPiVDODL]TXLHUGDTXHHOUHVWRGHOSiUUD
IRODVDQJUtDVHOODPD
D)UDQFHVD
E,QJOHVD
F(VSDxROD
4XpHV:RUG$UW"
D8QSURJUDPDLQFOXLGRHQ:RUGTXHH[SRQHOHWUDVGHIRUPDDUWtVWLFD
E/DSRVLELOLGDGGHUHDOL]DUXQGLEXMRGHQWURGHOSURJUDPD0LFURVRIW:RUG
F8QSURJUDPDSDUDFRQYHUWLUXQDLPDJHQHQWH[WRHGLWDEOH
(QUHODFLyQFRQHOHVWLORGHODOHWUDGHXQWH[WRDHGLWDUTXpDFFLyQVXFHGH
VLSXOVDPRVVLPXOWiQHDPHQWHODVWHFODV&RQWURO\ODOHWUD."
D4XHVHVXEUD\DWRGRORVHOHFFLRQDGR
E4XHHOWH[WRVHOHFFLRQDGRVHHVFULEHHQFXUVLYD
F4XHHOWH[WRVHOHFFLRQDGRVHFRQYLHUWHHQQHJULWD
8QWH[WRHVSHFtILFDPHQWHGLVHxDGRSDUDTXHVHUHSLWDHQODSDUWHVXSHULRU
GHXQDVHOHFFLyQGHSiJLQDVRHQWRGDVODVGHXQWH[WRVHGHQRPLQD
D(QFDEH]DGR
E1~PHURGHSiJLQD
F5XWLQD
4XpFDUDFWHUtVWLFDIXQGDPHQWDOWLHQHQODVIXHQWHV7UXH7\SH"
D4XHVHSXHGHQHVFULELUDFXDOTXLHUWDPDxR
E4XHVRQIXHQWHVGHWLSRDUWtVWLFR
F4XHVRQHVFDODEOHV
6LKDFHPRVFOLFVREUHXQLFRQRHQIRUPDGHHVFREDREURFKDODDFFLyQTXH
VXFHGHHV
D4XHVHERUUDHOGRFXPHQWR
E4XHVHHQYtDDRWURGRFXPHQWR
F4XHVHFRSLDHOIRUPDWRGHOWH[WRVHOHFFLRQDGR
&XiQWDVEDUUDVGHGHVSOD]DPLHQWRSXHGHQDSDUHFHQHQXQDSDQWDOOD"
D8QD
E'RV
F7UHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDEDUUDOLVDYHUWLFDOSDUSDGHDQWHTXHDSDUHFHSHUPDQHQWHPHQWHFXDQGR
HGLWDPRVXQWH[WRHV
D(OSXQWHURGHOUDWyQ
E8QVtPERORGHD\XGD
F(OSXQWRGHLQVHUFLyQ
&yPR SRGHPRV YHU HQ OD PLVPD SDQWDOOD \ VLPXOWiQHDPHQWH GRV SDUWHV
GLVWLQWDVGHXQPLVPRGRFXPHQWR"
D3RGHPRVYHUGRFXPHQWRVGLIHUHQWHVSHURQRXQPLVPRGRFXPHQWR
E3RUPHGLRGHOPHQ~9HU
F3XOVDQGRHQODRSFLyQ'LYLGLUGHOPHQ~YHQWDQD
/DWHFODVXSULPLUERUUD
D(OFDUiFWHUVREUHHOTXHHVWpVLWXDGRHOSXQWHURGHOUDWyQ
E(OFDUiFWHUPiVDODL]TXLHUGDGHOSXQWRGHLQVHUFLyQ
F(OFDUiFWHUPiVDODGHUHFKDGHOSXQWRGHLQVHUFLyQ
&XDQGRVHFUHDXQGRFXPHQWRHQ:RUGVHOHDVLJQDODGHQRPLQDFLyQSUR
YLVLRQDOGH
D'RFXPHQWR
E7H[WR
F$UFKLYR
3DUDLUGHVGHFXDOTXLHUSXQWRGHXQWH[WRTXHHVWHPRVHGLWDQGRDOLQLFLRGHO
GRFXPHQWRTXpFRPELQDFLyQGHWHFODVXVDUHPRV"
D>&WUO@PiV>,QLFLR@
E>&WUO@PiV>$Y3iJ@
F>&WUO@PiV>5H3iJ@
6LKDFHPRVWUHVFOLFFRQHOUDWyQHVWDQGRVXSXQWHURHQHOPDUJHQL]TXLHUGR
GHOGRFXPHQWR
D6HJXDUGDHOGRFXPHQWRDFWLYR
E6HGLYLGHODSDQWDOODHQGRVPLWDGHV
F6HVHOHFFLRQDWRGRHOGRFXPHQWR
/DRSHUDFLyQFRQVLVWHQWHHQTXHXQDUFKLYRJHQHUDGRSRUXQGHWHUPLQDGR
SURJUDPDSXHGDVHUXWLOL]DGRSRURWURSURJUDPDGLVWLQWRTXHHPSOHDSDUDVXVDU
FKLYRVIRUPDWRGLIHUHQWHFRQYLUWLpQGRORDOIRUPDWRDGHFXDGRVHGHQRPLQD
D(QFULSWDGR
E,PSRUWDFLyQH[SRUWDFLyQ
F&RPSULPLU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVOHWUDVGHXQSURFHVDGRUGHWH[WRTXHDGPLWHQGLVWLQWRVWLSRVGHWDPD
xRVVLQVXIULUGHIRUPDFLyQDOJXQDVHGHQRPLQDQ
D3ODQWLOODV
E/HWUDVYDULDEOHV
F)XHQWHVHVFDODEOHV
3DUDFHUUDUXQGRFXPHQWRDFWLYRVHKDFHFOLFVREUHXQLFRQRHQIRUPDGH
ERWyQFRQXQGLEXMRHQIRUPDGH
D'LVTXHWH
E'RFXPHQWRHQEODQFR
F8QDVSDR;
/DUHSUHVHQWDFLyQGHGDWRVHQIRUPDGHILODV\FROXPQDVVHOODPDHQ:RUG
D&XDGUR
E7DEOD
F0DUFR
(OLFRQRTXHUHSUHVHQWDDXQPXQGRFRQXQHVODEyQHV
D(OHQODFHD,QWHUQHW
E/DKHUUDPLHQWDSDUDHVWDEOHFHUXQKLSHUYtQFXOR
F3DUDDEULUHOFRUUHRHOHFWUyQLFR
(QFXDQWRDWRGRVORVGRFXPHQWRVTXHHVWiQDELHUWRVVLPXOWiQHDPHQWHVXV
UHIHUHQFLDVDSDUHFHQHQ
D/DEDUUDGHWDUHDV
E/DEDUUDGHPHQ~
F/DEDUUDGHHVWDGR
3RGHPRVFDPELDUORVPiUJHQHVGHXQGRFXPHQWR
D<HQGRDOPHQ~GHFRQILJXUDFLyQGHSiJLQD
E3XOVDQGRHQODUHJODYHUWLFDO\KRUL]RQWDO
F'HFXDOTXLHUDGHODVGRVIRUPDV
(OWpUPLQR$ULDOUHIHULGRDXQSURFHVDGRUGHWH[WRKDFHDOXVLyQD
D8QD]RQDFRQFUHWDGHXQGRFXPHQWR
E8QQRPEUHGHIXHQWH
F8QWLSRGHIRUPDWRGHWH[WR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6LKDFHPRVFOLFFRQHOERWyQGHUHFKRGHOUDWyQVREUHXQDSDODEUDVXEUD\DGD
HQURMR
D6HERUUDUiODSDODEUD
E6HOHTXLWDUiHOVXEUD\DGR
F$SDUHFHXQPHQ~FRQWH[WXDOFRQVXJHUHQFLDVVREUHSDODEUDVFRUUHFWDV
(QXQPHQ~GHVSOHJDEOHGH0LFURVRIW:RUGVLDSDUHFHXQDRSFLyQHQXQ
WRQRPiVDWHQXDGRGHORQRUPDOQRVHVWiLQGLFDQGRTXH
D(VWDRSFLyQHVWi\DHQXVR
F(VWDHVODRSFLyQPiVUHFRPHQGDEOHSDUDDEULU
(QTXpPHQ~VHHQFXHQWUDODRSFLyQ0$&52"
D(QHOPHQ~GHIRUPDWR
E(QHOPHQ~GHKHUUDPLHQWDV
F(QHOPHQ~GHDUFKLYR
4XpVLJQLILFDMXVWLILFDUHOWH[WR"
D&RUUHJLUORPLHQWUDVVHHVWiHVFULELHQGR
E'DUOHIRUPDWRHQFXDQWRDVXWLSRGHOHWUD
F$OLQHDUORDL]TXLHUGD\DGHUHFKD
4XpIXQFLyQWLHQHHQ:RUGXQFOLSDQLPDGRTXHDSDUHFHHQODSDQWDOODHQ
XQPRPHQWRGHWHUPLQDGR"
D1RVGDODSRVLELOLGDGGHDGMXQWDURWURVGRFXPHQWRVDODUFKLYRDFWLYR
E(VXQDLQGLFDFLyQGHTXHHOGRFXPHQWRDFWLYRHVWiVLHQGRPRGLILFDGR
F(VXQDGHODVUHSUHVHQWDFLRQHVGHO$\XGDQWHGH2IILFH
6LHVWDQGRHGLWDQGRXQGRFXPHQWRFRQ0LFURVRIW:RUGSXOVDPRVVLPXOWi
QHDPHQWHODVWHFODV&WUOPiVHOFXUVRUDODL]TXLHUGDTXpVXFHGH"
D4XHVHJXDUGDHOGRFXPHQWR
E4XHHOFXUVRUVHVLW~DHQHOLQLFLRGHODSDODEUD
F4XHVHDEUHXQDYHQWDQDGHGLiORJRSDUDVROLFLWDURWURGRFXPHQWR
3DUDVHOHFFLRQDUWRGRXQGRFXPHQWRTXpFRPELQDFLyQGHWHFODVKHPRV
GHUHDOL]DU"
D>&WUO@PiV>(@
E>&WUO@PiV>7@
F>0D\~V@PiV>)LQ@

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&yPRVHGHQRPLQDDOSDTXHWHHQHOTXHYLHQHLQWHJUDGRHOSURFHVDGRUGH
WH[WR0LFURVRIW:RUG"
D:LQGRZV
E2IILFH
F0LFURVRIW:RUGHVXQSURJUDPDLQGHSHQGLHQWH
4XpRFXUUHHQXQWH[WRFXDQGRSXOVDPRVODWHFOD(QWHU!"
D4XHGLVWDQFLDPRVODVHSDUDFLyQHQWUHOtQHDVGHOWH[WR
E4XHOOHYDPRVHOSXQWRGHLQVHUFLyQDODVLJXLHQWHOtQHDHGLWDGD
F4XHILQDOL]DPRVXQSiUUDIR\FRPHQ]DPRVRWUR
/RVQ~PHURVFRQORVTXHQRVHSXHGHQUHDOL]DURSHUDFLRQHVPDWHPiWLFDV
VHGHQRPLQDQ
D6HPLQ~PHURV
E&DUDFWHUHVDOIDQXPpULFRV
F&DUDFWHUHVQXPpULFRV
/DVSRVLFLRQHVGHOSXQWRGHLQVHUFLyQVLWXDGDVDLQWHUYDORVILMRVFRQWDGRV
GHVGHHOPDUJHQL]TXLHUGRGHXQWH[WRVHOODPDQ
D(VSDFLDGR
E6DOWRVGHVHFFLyQ
F7DEXODFLRQHV
4XpVHHQWLHQGHSRUIXHQWHHQXQSURFHVDGRUGHWH[WR"
D(ORULJHQGHXQHVFULWRTXHYDPRVDHGLWDU
E(OHVFULWRHQFDUDFWHUHVFRUUHVSRQGLHQWHVDOFyGLJRPiTXLQD
F(OWLSRGHOHWUDTXHHPSOHDPRVHQXQHVFULWR
4XpVLJQLILFDXQDUD\DURMDRQGXODGDGHEDMRGHXQDSDODEUDHQHOSURFHVD
GRUGHWH[WR0LFURVRIW:RUG"
D4XHH[LVWHXQHUURURUWRJUiILFR
E4XHGLFKDSDODEUDQRFRQFXHUGDHQJpQHURRQ~PHURGHQWURGHODIUDVH
F4XHH[LVWHXQHUURUGHVLQWD[LV
3DUDLUDXQDFHOGDDQWHULRUHQHOLQWHULRUGHXQDWDEODSXOVDPRV
D>&WUO@PiV>0D\~V@
E>0D\~V@PiV>7DE@
F&XUVRUL]TXLHUGRPiV>7DE@
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpOXJDUGHODSDQWDOODVHLQGLFDHOQ~PHURGHSiJLQDVTXHWLHQHHO
GRFXPHQWRTXHDFWXDOPHQWHVHHVWiHGLWDQGR\PRVWUDQGR"
D(QODSDUWHVXSHULRUGHUHFKD
E1RVHPXHVWUDHQQLQJ~QVLWLR
F(QODEDUUDGHHVWDGR
3DUDDUUDQFDUHOSURJUDPD0LFURVRIW:RUGGHVGHHOPHQ~GHLQLFLR
D'HEHPRVKDFHUFOLFSRVWHULRUPHQWHHQ3DQHOGH&RQWURO
E+DFHPRVFOLFDFRQWLQXDFLyQHQ3URJUDPDV
F'LUHFWDPHQWHVHFRQHFWD0LFURVRIW:RUG
6L KDFHPRV FOLF VREUH XQ LFRQR VLWXDGR HQ OD EDUUD GH KHUUDPLHQWDV TXH
DSDUHFHFRQXQDVHxDOGHPDUFDGR\ODVOHWUDV$%&HQPD\~VFXODTXpDFFLyQVH
HMHUFHUi"
D(VHLFRQRQRVHPXHVWUDHQODEDUUDGHKHUUDPLHQWDV\VtHQODGHPHQ~
E6HDEUHODYHQWDQDGHFRUUHFFLyQRUWRJUiILFD\JUDPDWLFDO
F6HDEUHODYHQWDQDGHVHOHFFLRQDU\PDUFDUWH[WR
'HVGHTXpPHQ~GHODDSOLFDFLyQ:RUGVHSXHGHHVFRJHUODLPSUHVRUDTXH
TXHUHPRVXWLOL]DU"
D'HVGHHOPHQ~$5&+,92
E'HVGHHOPHQ~(',&,1
F'HVGHHOPHQ~9(5
&yPRVHSXHGHDEULUHOSRUWDSDSHOHVSDUDHVFRJHUXQDVHOHFFLyQUHDOL]DGD
DORODUJRGHODVHFFLyQGH:RUG"
D+DFLHQGRFOLFHQODRSFLyQGHSRUWDSDSHOHVGHODEDUUDGHKHUUDPLHQWDV
E(QHOPHQ~YHUPRVWUDUHO3DQHOGHWDUHDV\HVFRJHUODRSFLyQGHOSRUWDSDSHOHV
F(OSRUWDSDSHOHV\DVHHQFXHQWUDDELHUWRSRUGHIHFWR
(Q :RUG TXp SHVWDxD GHO PHQ~ 3URSLHGDGHV GHQWUR GHO PHQ~ $UFKLYR
SHUPLWHLQFRUSRUDUGHWHUPLQDGDLQIRUPDFLyQ~WLOVREUHXQGRFXPHQWRFRPRDVXQWR
DXWRURFRPHQWDULRV"
D*HQHUDO
E5HVXPHQ
F&RQWHQLGR
/DDFFLyQGHFRSLDU\SHJDUGH:RUGLPSOLFD
D+DFHUXQGXSOLFDGRGHOWH[WRVHOHFFLRQDGRHQHOSRUWDSDSHOHVTXHDO3HJDUVHUiYRO
FDGRVREUHODSRVLFLyQGHOSXQWRGHLQVHUFLyQDFWXDO
E(OLPLQDUHOWH[WRVHOHFFLRQDGR\DOSHJDUPRYHUORDODSRVLFLyQDFWXDOGHOFXUVRU
F(OLPLQDHOWH[WRVHOHFFLRQDGR\ORSRQHHQHOSRUWDSDSHOHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q:RUGFXiOHVODGLIHUHQFLDHQWUHORVFRPDQGRV&RUWDU\&RSLDU"
D&RQ&RSLDU\3HJDUVHPDQWLHQHHOWH[WRGHRULJHQ\VHFRSLDHQVXQXHYRGHVWLQR\
FRQ&RUWDU\3HJDUVHVXSULPHHOWH[WRGHRULJHQ\VHFRORFDHQVXQXHYRGHVWLQR
E1RVHSXHGHXWLOL]DUHOYLVRUGHO3RUWDSDSHOHVFRQHOFRPDQGR&RUWDU
F&RQ&RSLDU\3HJDUVHVXSULPHHOWH[WRGHRULJHQ\VHFRORFDHQVXQXHYRGHVWLQR\
FRQ&RUWDU\3HJDUVHPDQWLHQHHOWH[WRGHRULJHQ\VHFRSLDHQVXQXHYRGHVWLQR
4XpLFRQRUHSUHVHQWDDODDFFLyQFRUWDUHQODEDUUDGHKHUUDPLHQWDV"
D8QDVWLMHUDV
E8QDEURFKD
F8QD;RDVSD
(QTXpEDUUDGH:RUGDSDUHFHQODVRSFLRQHV$UFKLYR(GLFLyQ9HU,QVHU
WDU"
D(QODEDUUDGHWtWXOR
E(QODEDUUDGHHVWDGR
F(QODEDUUDGHPHQ~V
(OLFRQRHQHOTXHILJXUDQGRVGRFXPHQWRVFRQHOH[WUHPRVXSHULRUGHUHFKRGR
EODGRYLVLEOHVORVGRVSHURVXSHUSXHVWRVTXpDFFLyQUHDOL]DVLVHKDFHFOLFVREUHpO"
D&RSLDUHOWH[WRVHOHFFLRQDGR
E&RUWDUHOWH[WRVHOHFFLRQDGR
F3HJDUHOWH[WRVHOHFFLRQDGR
&XDQGR HQ XQ GRFXPHQWR GH :RUG XQ WH[WR DSDUHFH GH IRUPD UHVDOWDGD
YtGHRLQYHUVRHVTXH
D(VWiSURWHJLGR
E(VWiHOLPLQDGR
F(VWiVHOHFFLRQDGR
3DUDPRYHUXQWH[WRVHOHFFLRQDGRTXpFRPDQGRVXWLOL]DUHPRV"
D&RSLDU\6DOLU
E&RUWDU\3HJDU
F3HJDU\&HUUDU
6REUH:RUGTXpDILUPDFLyQGHODVVLJXLHQWHVQRHVFLHUWD"
D3XOVDQGR&WUO&VHHMHFXWDHOFRPDQGR&RSLDUPHGLDQWHHOWHFODGR
E3XOVDQGR&WUO9VHHMHFXWDHOFRPDQGR&RUWDUPHGLDQWHHOWHFODGR
F/DIXQFLyQ&RSLDUVyORVLW~DHQHO3RUWDSDSHOHVXQDFRSLDGHODVHOHFFLyQHOHJLGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6L WHQHPRV XQ DUFKLYR LQIRUPiWLFR FRQ H[WHQVLyQ GRF SRGHPRV VXSRQHU
TXHVHWUDWDGH
D8QGRFXPHQWRGH0LFURVRIW:RUG
E8QDEDVHGHGDWRVGH0LFURVRIW$FFHVV
F8QDSUHVHQWDFLyQGH0LFURVRIW3RZHU3RLQW
:RUGWLHQHXQD$\XGDGLUHFWDDWUDYpVGHODFXDOVHSXHGHFRQVHJXLULQIRUPD
FLyQVREUHWRGDVODVDFFLRQHVTXHVHHMHFXWDQHQ:RUG3DUDFRQVHJXLU$\XGD
D'HEHPRVSXOVDUODWHFOD)HQFXDOTXLHUPRPHQWR
E'HEHPRVSXOVDUODWHFOD)\ODWHFOD&75/GHPDQHUDVLPXOWiQHD
F'HEHPRVSXOVDUODWHFOD)\ODWHFOD$/7GHPDQHUDVLPXOWiQHD
6LQRVHTXLYRFDPRVHQXQDDFFLyQRHOLPLQDPRVWH[WRGHQWURGHXQGRFXPHQ
WR:RUGQRVSHUPLWHDQXODUODV~OWLPDVRSHUDFLRQHVUHDOL]DGDVKDFLHQGRXQFOLFHQ
D(OERWyQ3HJDU
E(OERWyQ(GLFLyQ
F(OERWyQ'HVKDFHU
(Q:RUGFXDOTXLHUFDQWLGDGGHWH[WRJUiILFRHWFFRPSUHQGLGRHQWUHGRV
SXOVDFLRQHVGH,1752HV
D8QDVHFFLyQ
E8QSiUUDIR
F8QFDUiFWHU
(Q:RUGSDUDYHUHOGRFXPHQWRFRQHOPLVPRDVSHFWRTXHWHQGUiFXDQGR
VHLPSULPDEDVWDFRQ
D+DFHUFOLFHQHOLFRQRGH9LVWD3UHOLPLQDU
E+DFHUFOLFHQHOLFRQRGH9HU
F+DFHUFOLFHQHOLFRQRGH,PSULPLU
(Q:RUGGH0LFURVRIWTXpWLSRGHDOLQHDFLyQGHWH[WRKDFHTXHWRGDVODV
OtQHDVPLGDQH[DFWDPHQWHLJXDOVDOYROD~OWLPDOtQHDGHXQSiUUDIR"
D&HQWUDU
E-XVWLILFDU
F$OLQHDUDODGHUHFKD
(Q:RUG1HJULWD&XUVLYD\6XEUD\DGRVRQ
D7LSRVGH/HWUDV
E)RUPDWRVGH3iUUDIR
F)RUPDWRVGH&DUiFWHU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(Q:RUGODFRPELQDFLyQGHWHFODV&75/)OHFKDGHUHFKDKDFH
D4XHYD\DPRVDOILQDOGHOGRFXPHQWR
E4XHDYDQFHPRVGHSDODEUDHQSDODEUD
F4XHDYDQFHPRVXQFDUiFWHUDODGHUHFKD
&yPRVHFRQVLJXHKDFHUWH[WRVSHUVRQDOL]DGRVSDUWLHQGRGHXQWH[WREDVH
\XWLOL]DQGRXQDUFKLYRFRQGDWRVSHUVRQDOHV"
D8WLOL]DQGRODRSFLyQFDUWDV\FRUUHVSRQGHQFLDGHOPHQ~+HUUDPLHQWDV
E&RQODRSFLyQGH$XWRIRUPDWR
F8WLOL]DQGRDRSFLyQGH$XWRWH[WRGHOPHQ~,QVHUWDU
6LVHOHFFLRQDPRVXQWH[WRHQ0LFURVRIW:RUG\SRUDFFLGHQWHORERUUDPRV
D3RGHPRVUHFXSHUDUORVLDSDJDPRV\UHLQLFLDPRVQXHYDPHQWHHORUGHQDGRU
E7HQHPRVTXHYROYHUDWHFOHDUORHQWHURSXHVORKHPRVSHUGLGRLUUHPHGLDEOHPHQWH
F3RGHPRVUHFXSHUDUORIiFLOPHQWHFRQODDFFLyQGHVKDFHUGHOPHQ~HGLFLyQ
&yPRSXHGRSHJDUXQWH[WRVHOHFFLRQDGRFRQDQWHULRULGDGDOD~OWLPDVH
OHFFLyQGHWH[WRFRUWDGRRSHJDGR"
D(QWRGRFDVR\DTXHDOXWLOL]DUODRSFLyQSHJDUVHDEUHXQDSDQWDOODPRVWUDQGRHO
SRUWDSDSHOHVHQODTXHVHSXHGHHVFRJHUHOWH[WRDSHJDUGHWRGDVODVVHOHFFLRQHVDQWH
ULRUHVUHDOL]DGDV
E(QQLQJ~QFDVR\DTXHVyORVHSXHGHSHJDUOD~OWLPDRSFLyQVHOHFFLRQDGD\FRUWDGD
RFRSLDGDHQHOSRUWDSDSHOHV
F6LSUHYLDPHQWHDFRUWDURFRSLDUODVHOHFFLyQVHKDDELHUWRHOSRUWDSDSHOHV
6LHVWiLQWHUHVDGRHQLPSULPLUGHXQGRFXPHQWRODVSiJLQDV\GHOD
SiJLQDDOD\ODSiJLQDVHGHEHVHOHFFLRQDUHQHOPHQ~GH,PSULPLU,QWHU
YDORGHSiJLQDV3iJLQDV
D
E
FD\
(QTXpEDUUDGHKHUUDPLHQWDVGH:RUGVHHQFXHQWUDHOLFRQRSDUDDFWLYDU
HODWULEXWRGHWH[WRQHJULWD"
D%DUUD(VWiQGDU
E%DUUDGH'LEXMR
F%DUUDGH)RUPDWR
&XiOHVODIXQFLyQGHORVFDUDFWHUHVQRLPSULPLEOHVGHXQWH[WRGH:RUG"
D&UHDUXQWH[WRDOWHUQDWLYRTXHSXHGDVXVWLWXLUDOYLVLEOH
E'DUIRUPDWRDOWH[WR
F1RH[LVWHQHQ:RUGHVHWLSRGHFDUDFWHUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
&XiOHVODGLIHUHQFLDHQWUHODRSFLyQ*XDUGDUFRPR\*XDUGDU"
D&RQODRSFLyQJXDUGDUFRPRSRGHPRVPRGLILFDUODXELFDFLyQHOQRPEUHRHOWLSRGH
DUFKLYRGHOGRFXPHQWRHGLWDGR
E&RQODRSFLyQJXDUGDUSRGHPRVPRGLILFDUODXELFDFLyQHOQRPEUHRHOWLSRGHDUFKLYR
GHOGRFXPHQWRHGLWDGR
F1RH[LVWHQGLIHUHQFLDVHQWUHXQD\RWUDRSFLyQ
&RQODRSFLyQ&RQWURO(TXpDFFLyQUHDOL]DPRV"
D'HVKDFHPRVOD~OWLPDDFFLyQUHDOL]DGD
E6HOHFFLRQDPRVWRGRHOWH[WR
F&RSLDPRVHOWH[WRVHOHFFLRQDGR
/DGLVWDQFLDTXHKD\HQWUHHOPDUJHQGHXQHVFULWR\XQSiUUDIRVHGHQR
PLQD
D7DEXODFLyQ
E$OLQHDFLyQ
F6DQJUtD
8QDSODQWLOODGH:RUGHV
D7H[WRTXHVHUHSLWHGHQWURGHXQGRFXPHQWR
E0RGHORSUHGHILQLGRGHGRFXPHQWRV
F'RFXPHQWRVGH:RUGTXHFRQWLHQHQWH[WR\WDEODV
&yPRSRGHPRVLQWURGXFLUSiUUDIRVGHQWURGHOPDUJHQGHUHFKRGHXQGR
FXPHQWR"
D'iQGROHYDORUHVQHJDWLYRVDODVDQJUtDGHUHFKD
E'iQGROHYDORUHVSRVLWLYRVDODVDQJUtDGHUHFKD
F'iQGROHYDORUHVSRVLWLYRVDODVDQJUtDL]TXLHUGD
(OIRUPDWRGHIXHQWHFRQRFLGRFRPR9HUVDOHVSHUPLWH
D(VFULELUWRGRHOWH[WRHQPD\~VFXODVGHLJXDOWDPDxR
E(VFULELUWRGRHOWH[WRHQPD\~VFXODVGLVWLQJXLHQGRSRUVXWDPDxRODVPD\~VFXODV\
ODVPLQ~VFXODV
F(VFULELUHOWH[WRHQFXUVLYDLQFOLQDGDKDFLDODL]TXLHUGD
3RGHPRVFDPELDUUiSLGDPHQWHGHXQGRFXPHQWRDRWURGHORVTXHSUH
YLDPHQWHHVWHPRVHGLWDQGR"
D6yORH[LVWHHVWDSRVLELOLGDGDEULHQGRGHQXHYRODDSOLFDFLyQGH:RUG
E6tSXOVDQGRODVWHFODVGH&RQWUROPiV(
F6tSXOVDQGRODVWHFODVGH&RQWUROPiV)

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4Xp RSFLyQ GH ODV VLJXLHQWHV SHUPLWH HGLWDU P~OWLSOHV GRFXPHQWRV GH
LJXDOFRQWHQLGRSHURSHUVRQDOL]DGRV"
D&RPELQDUFRUUHVSRQGHQFLD
E3ODQWLOODVGH:RUG
F$XWRWH[WR
(OSXQWRGHLQVHUFLyQ\HOSXQWHURGHOUDWyQ
D3XHGHQHVWDUHQSiJLQDVGLIHUHQWHV
E'HEHQHVWDUVLWXDGRVVLHPSUHHQODPLVPDSiJLQD
F1DGDGHORDQWHULRUHVFLHUWR\DTXHDPERVFRQFHSWRVVRQORPLVPR
/DVH[WHQVLRQHVGHODVFRSLDVGHVHJXULGDGTXHUHDOL]D0LFURVRIW:RUGGH
ORVILFKHURVTXHHGLWDVRQGHOVLJXLHQWHWLSR
D'27
E:%.
F'2&%.
(QODSDQWDOODGHXQGRFXPHQWRHGLWDGRSRU0LFURVRIW:RUGDSDUHFHUiOD
EDUUDGHGHVSOD]DPLHQWRYHUWLFDO
D(QWRGRFDVR
E6yORVLHOLMRHVWDRSFLyQ
F6LHOGRFXPHQWRQRSXHGHYHUVHFRPSOHWRHQXQDSDQWDOOD
&yPRVHHOLPLQDQODVVHxDOHVGHODVWDEXODFLRQHVGHODUHJODKRUL]RQWDO"
D6LWXDQGRHOSXQWHURGHOUDWyQVREUHHOOD\SXOVDQGRODWHFODGHVXSULPLU
E6LWXDQGRHOSXQWHURGHOUDWyQVREUHHOOD\DUUDVWUiQGRODFRQHOUDWyQIXHUDGHODUHJOD
F'HFXDOTXLHUDGHODVGRVIRUPDVDQWHULRUHV
(Q:RUGFyPRVHGHQRPLQDQORVGRFXPHQWRVHQORVTXHVHKDQDJUHJDGR
WH[WRJUiILFRVPDFURVHWFHVWDEOHFLHQGRXQDHVWUXFWXUDSUHGHILQLGD"
D3ODQWLOODV
E(VWLORV
F$XWRWH[WR
(OLFRQRTXHUHSUHVHQWDXQDERODGHOPXQGRFRQXQHVODEyQGHFDGHQD
TXpDFFLyQUHDOL]DVLVHKDFHFOLFVREUHpO"
D$EUHHOQDYHJDGRU,QWHUQHW([SORUHU
E,QVHUWDXQKLSHUYtQFXOR
F5HFLEHD\XGDRQOLQHGH0LFURVRIWVREUHODDSOLFDFLyQ:RUG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
3DUDSUHVHQWDUXQGRFXPHQWRHQIRUPDGHHVTXHPDGHVXFRQWHQLGRGH
EHPRVDEULUHOPHQ~
D9HU
E,QLFLR&RQILJXUDFLyQ
F)RUPDWRHVTXHPD
(O FRQFHSWR TXH 0LFURVRIW :RUG WLHQH VREUH XQD WDEOD GH FRQWHQLGRV
FRQVLVWHHQ
D8QGRFXPHQWRPDHVWUR
E8QtQGLFH
F8QDSODQWLOOD
4XpFRPELQDFLyQGHWHFODVSHUPLWHSDVDUGHXQGRFXPHQWRDRWURTXH
HVWHPRVVLPXOWiQHDPHQWHHGLWDQGR"
D7HFOD$OW\7HFOD7DE
E7HFOD&WUO\\7HFOD)
F'HDPEDVIRUPDV
'HQWUR GHO PHQ~ )XHQWH FyPR VH FDPELD HO YDORU GH XQD SODQWLOOD GH
:RUG"
D3XOVDQGRVREUHODRSFLyQSUHGHWHUPLQDU
E(VFRJLHQGRODRSFLyQFDPELDUSODQWLOOD
F&RQODRSFLyQHIHFWRVGHWH[WR
6LGHFLPRVTXHVHWUDWDGHXQDVHULHGHLQVWUXFFLRQHVTXHVHHMHFXWDQHQ
XQRUGHQGHWHUPLQDGRSRUHOXVXDULRDFWXDQGRFRPRXQD~QLFDLQVWUXFFLyQ\TXH
SXHGHQDVLJQDUVHDXQERWyQQRVHVWDPRVUHILULHQGRDOFRQFHSWRGH
D3ODQWLOOD
E'RFXPHQWRPDHVWUR
F0DFUR

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E(QODSRVLELOLGDGGHLQVHUWDUGLUHFWDPHQWHWH[WRRJUiILFRVSUHYLDPHQWHJXDUGDGRV
E/DVSODQWLOODV
F6HOHFFLRQDUHOWH[WR\SXOVDUODRSFLyQGHVKDFHUGHOD%DUUDGH+HUUDPLHQWDV
E/DGH+HUUDPLHQWDV
D(QOD%DUUDGH0HQ~V
F6HYDQPRVWUDQGRPHQ~VSUHJXQWDQGRVLVHTXLHUHJXDUGDUSUHYLDPHQWHFDGD
XQRGHORVGRFXPHQWRVDFWLYRV
D-XQWRDODEDUUDGHGHVSOD]DPLHQWRKRUL]RQWDO
F8QJUiILFRDQLPDGR
E6HSDVDHOSXQWRGHLQVHUFLyQDODSiJLQDVLJXLHQWH
E&DSLWDO
E(QHOPHQ~)RUPDWR
F&DPELDPRVHOSXQWRGHLQVHUFLyQDOOXJDUGRQGHHVWpVLWXDGRHOSXQWHUR
D7DEXODFLRQHV
E8QDEURFKD
E>&WUO@\>)@
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D+DFHPRVFOLFVREUHXQLFRQRFRQXQDVSDTXHH[LVWHHQODEDUUDGHWtWXOR
F8QDEDUUDYHUWLFDOOLPLWDGDSRUVXVH[WUHPRVFRQGRVPiVSHTXHxDV
E0RYHPRVHOSXQWRGHLQVHUFLyQ
D/DFDUSHWD0LV'RFXPHQWRV
F/DGRVUHVSXHVWDVVRQFRUUHFWDV
F'HIOHFKDLQFOLQDGD
D0LFURVRIW2IILFH
D$TXHOODTXHSXHGHFDPELDUGHGLPHQVLyQVLQTXHSLHUGDFDOLGDGVXFRQWRUQR
D6HFRSLDHQXQVRSRUWH\VHFRQWLQ~DHGLWDQGR
E([LVWHXQHUURUJUDPDWLFDO
D(OHVWLORGHOWH[WRSDVDUiDQHJULWD
E$OPHQ~+HUUDPLHQWDV
D(QHOPHQ~$UFKLYR
F7DEXODFLRQHV
E&RXULHU
F6LKDFHPRVFOLFVREUHHOODVHDEULUiXQDYHQWDQDGHGLiORJR
E)RUPDWR
D(QODEDUUDGHHVWDGR
E(OFXUVRUVHFRQYLHUWHHQIOHFKDFRQLQWHUURJDQWH\QRVGDXQDD\XGDVREUHHO
HOHPHQWRVHOHFFLRQDGR
D4XHVHOHFFLRQDPRVWRGRHOSiUUDIRHQHOTXHHVWDPRVVLWXDGRV
F+DFHUFOLFVREUHXQLFRQRFRQXQDIOHFKDFXUYDGDDODL]TXLHUGD
F+LSHUWH[WR
F,PSRUWDU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
D)UDQFHVD
D8QSURJUDPDLQFOXLGRHQ:RUGTXHH[SRQHOHWUDVGHIRUPDDUWtVWLFD
E4XHHOWH[WRVHOHFFLRQDGRVHHVFULEHHQFXUVLYD
D(QFDEH]DGR
F4XHVRQHVFDODEOHV
F4XHVHFRSLDHOIRUPDWRGHOWH[WRVHOHFFLRQDGR
E'RV
F(OSXQWRGHLQVHUFLyQ
F3XOVDQGRHQODRSFLyQ'LYLGLUGHOPHQ~YHQWDQD
F(OFDUiFWHUPiVDODGHUHFKDGHOSXQWRGHLQVHUFLyQ
D'RFXPHQWR
D>&WUO@PiV>,QLFLR@
F6HVHOHFFLRQDWRGRHOGRFXPHQWR
E,PSRUWDFLyQH[SRUWDFLyQ
F)XHQWHVHVFDODEOHV
F8QDVSDR;
E7DEOD
E/DKHUUDPLHQWDSDUDHVWDEOHFHUXQKLSHUYtQFXOR
F/DEDUUDGHHVWDGR
F'HFXDOTXLHUDGHODVGRVIRUPDV
E8QWLSRGHIXHQWH
F$SDUHFHXQPHQ~FRQWH[WXDOFRQVXJHUHQFLDVVREUHSDODEUDVFRUUHFWDV
E(QHOPHQ~GHKHUUDPLHQWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F$OLQHDUORDL]TXLHUGD\DGHUHFKD
F(VXQDGHODVUHSUHVHQWDFLRQHVGHOD\XGDQWHGH2IILFH
E4XHHOFXUVRUVHVLW~DHQHOLQLFLRGHODSDODEUD
D>&WUO@PiV>(@
E2IILFH
F4XHILQDOL]DPRVXQSiUUDIR\FRPHQ]DPRVRWUR
E&DUDFWHUHVDOIDQXPpULFRV
F7DEXODFLRQHV
F(OWLSRGHOHWUDTXHHPSOHDPRVHQXQHVFULWR
D4XHH[LVWHXQHUURURUWRJUiILFR
E>0D\~V@PiV>7DE@
F(QODEDUUDGHHVWDGR
E+DFHPRVFOLFDFRQWLQXDFLyQHQ3URJUDPDV
E6HDEUHODYHQWDQDGHFRUUHFFLyQRUWRJUiILFD\JUDPDWLFDO
D'HVGHHOPHQ~$5&+,92
E(QHOPHQ~YHUPRVWUDUHO3DQHOGHWDUHDV\HVFRJHUODRSFLyQGHOSRUWDSDSHOHV
E5HVXPHQ
D+DFHUXQGXSOLFDGRGHOWH[WRVHOHFFLRQDGRHQHOSRUWDSDSHOHVTXHDO3HJDUVHUi
YROFDGRVREUHODSRVLFLyQGHOFXUVRUDFWXDO
D&RQ&RSLDU\3HJDUVHPDQWLHQHHOWH[WRGHRULJHQ\VHFRSLDHQVXQXHYRGHVWLQR
\FRQ&RUWDU\3HJDUVHVXSULPHHOWH[WRGHRULJHQ\VHFRORFDHQVXQXHYRGHVWLQR
D8QDVWLMHUDV
F(QODEDUUDGHPHQ~V
D&RSLDUHOWH[WRVHOHFFLRQDGR
F(VWiVHOHFFLRQDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E&RUWDU\3HJDU
E3XOVDQGR&WUO9VHHMHFXWDHOFRPDQGR&RUWDUPHGLDQWHHOWHFODGR
D8QGRFXPHQWRGH0LFURVRIW:RUG
D'HEHPRVSXOVDUODWHFOD)HQFXDOTXLHUPRPHQWR
F(OERWyQ'HVKDFHU
E8QSiUUDIR
D+DFHUFOLFHQHOLFRQRGH9LVWD3UHOLPLQDU
E-XVWLILFDU
F)RUPDWRGH&DUiFWHU
E4XHDYDQFHPRVGHSDODEUDHQSDODEUD
D8WLOL]DQGRODRSFLyQFDUWDV\FRUUHVSRQGHQFLDGHOPHQ~+HUUDPLHQWDV
F3RGHPRVUHFXSHUDUORIiFLOPHQWHFRQODDFFLyQGHVKDFHUGHOPHQ~HGLFLyQ
F6LSUHYLDPHQWHDFRUWDURFRSLDUODVHOHFFLyQVHKDDELHUWRHOSRUWDSDSHOHV
D
F%DUUDGH)RUPDWR
E'DUIRUPDWRDOWH[WR
D&RQODRSFLyQFRPRSRGHPRVPRGLILFDUODXELFDFLyQHOQRPEUHRHOWLSRGH
DUFKLYRGHOGRFXPHQWRHGLWDGR
E6HOHFFLRQDPRVWRGRHOWH[WR
F6DQJUtD
E0RGHORSUHGHILQLGRGHGRFXPHQWRV
D'iQGROHYDORUHVQHJDWLYRVDODVDQJUtDGHUHFKD
E(VFULELUWRGRHOWH[WRHQPD\~VFXODVGLVWLQJXLHQGRSRUVXWDPDxRODVPD\~V
FXODV\ODVPLQ~VFXODV
F3XOVDQGRODVWHFODVGH&RQWUROPiV)
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D&RPELQDUFRUUHVSRQGHQFLD
D3XHGHQHVWDUHQSiJLQDVGLIHUHQWHV
E:%.
F6LHOGRFXPHQWRQRSXHGHYHUVHFRPSOHWRHQXQDSDQWDOOD
E6LWXDQGRHOSXQWHURGHOUDWyQVREUHHOOD\DUUDVWUiQGRODFRQHOUDWyQIXHUDGH
ODUHJOD
D3ODQWLOODV
E,QVHUWDXQKLSHUYtQFXOR
D9HU
E8QtQGLFH
F'HDPEDVIRUPDV
D3XOVDQGRVREUHODRSFLyQSUHGHWHUPLQDU
F0DFUR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
,1752'8&&,1$/$65('(6,1)2507,&$6<7,326,17(51(7(
,175$1(7(/1$9(*$'25,17(51(7(;3/25(5&212&,0,(172%6,&2
(O85/HV
D8QVLVWHPDGHWUDQVPLVLyQGH,QWHUQHW
E/DIRUPDGHDFFHGHUDXQDSiJLQD:HE
F(OSURWRFRORXWLOL]DGRHQ,QWHUQHW
4XpSDODEUDVQRWLHQHHQFXHQWDXQEXVFDGRUFRPR*RRJOHVDOYRTXHYD\DQ
HQWUHFRPLOODV"
D3URQRPEUHVGHWHUPLQDQWHV
E7RGDVODVSDODEUDVVRQYiOLGDV
F&XDQWDVPiVSDODEUDVXWLOLFHPRVPHMRU
(QUHODFLyQFRQODWRSRORJtDGHUHGHVVHxDOHFXiOOHSDUHFHODRSFLyQLQFR
UUHFWD
D/DFRQH[LyQHQUHGOLQHDORHQDQLOORSUHFLVDQGHXQVRORFDEOH
E/DFRQH[LyQHQHVWUHOODHVODTXHSHUPLWHPD\RUUDSLGH]HQODWUDQVPLVLyQGHGDWRV
F (Q OD FRQH[LyQ HQ DQLOOR D PHGLGD TXH KD\ PiV RUGHQDGRUHV FRQHFWDGRV PD\RU
UHQGLPLHQWRVHWLHQH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
'HTXpWLSRSXHGHQVHUODVFRPXQLFDFLRQHVHQTXHXQSURYHHGRUQRVVXPL
QLVWUDXQVHUYLFLRGH,QWHUQHW"
D5HGWHOHIyQLFDFRQPXWDGD
E$'6/
F/DVGRVVRQFRUUHFWDV
6HxDOHXQDFDUDFWHUtVWLFDTXHQROHFRUUHVSRQGDDODWRSRORJtDGHUHGHVHQ
DQLOOR
D8QGLVSRVLWLYRGLVWULEXLGRUOODPDGRKXEKDFHOOHJDUODVHxDODWRGRVORVRUGHQDGRUHV
FRQHFWDGRV
E6LVHFRUWDODOtQHDGHWUDQVPLVLyQFDHWRGRHOVLVWHPD
F*HQHUDOPHQWHHVWDWUDQVPLVLyQVHUHDOL]DSRUPHGLRGHXQWHVWLJR
7RGRRUGHQDGRUFRQHFWDGRSHUPDQHQWHPHQWHDODUHGFRQXQDGLUHFFLyQ,3
ILMDHVHOFRQFHSWRGH
D0yGHP
E2UGHQDGRUFOLHQWH
F+RVW
4XpWRSRORJtDUHVXOWDPiVHILFD]DOHYLWDUTXHXQIDOORHQODOtQHDGHWUDQV
PLVLyQDIHFWHDWRGDODUHGTXHGDQGRIXHUDGHVHUYLFLRVyORHORUGHQDGRUDIHFWDGR
SRUHOIDOOR"
D(QDQLOOR
E(QEXV
F(QHVWUHOOD
8QLFRQRFRQODILJXUDGHXQFOLSUHIHUHQWHDXQFRUUHRHOHFWUyQLFRVLJQLILFDTXH
D6HSXHGHUHPLWLUMXQWRDOFRUUHRFXDOTXLHURWURDUFKLYRLQIRUPiWLFR
E6HKDFHQHFHVDULRSUHYLDPHQWHHQOD]DUFRQHOVHUYLGRUSDUDHQYLDUXQFRUUHR
F$OSXOVDUVREUHpOVHDEUHXQPHQ~GHD\XGDSDUDHOHQYtRGHHVHFRUUHRHOHFWUyQLFR
'HODVVLJXLHQWHVUHVSXHVWDVVHxDOHODTXHSXHGHWHQHUUHODFLyQFRQODVFL
IUDV
D$XQDGLUHFFLyQ,3
E$XQDGLUHFFLyQ0$&
F$XQHVWiQGDUSDUDUHGHVLQDOiPEULFDV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QTXpVHGLIHUHQFLDXQVZLWFKHVGHXQKXE"
D(OSULPHURVHXWLOL]DHQODFRQH[LyQGHRUGHQDGRUHVSRUWRSRORJtDHQDQLOOR\HOVH
JXQGRHQEXV
E1RH[LVWHQGLIHUHQFLDVDSUHFLDEOHVHQWUHDPERVGLVSRVLWLYRV
F(OSULPHURHVXQGLVWULEXLGRULQWHOLJHQWHHQODWRSRORJtDHQHVWUHOOD\HOVHJXQGRXWL
OL]DGRHQHVWDPLVPDWRSRORJtDQRORHV
&XiQWRVQ~PHURVFRPSRQHQXQQ~PHUR0$&"
D&XDWUR
E6HLV
F'LH]
4XpOHFRUUHVSRQGHDFDGDGLUHFFLyQ,3"
D8QQRPEUHGHO6LVWHPDGH1RPEUHVGH'RPLQLR
E8QSURWRFRORGLVWLQWR
F8QGHWHUPLQDGRQ~PHUR0$&
(OQRPEUHGHXQDSiJLQDZHEYLHQHH[SXHVWRHQ
D/DEDUUDGHWtWXORGHODSiJLQDZHE
E/DEDUUDGHWDUHDV
F/DEDUUDGHHVWDGR
&yPRGLVWLQJXLPRVXQYtQFXORROLQNHQXQDSiJLQDZHE"
D$OSDVDUHOSXQWHURGHOUDWyQVREUHpOFDPELDGHIOHFKDDXQDPDQR
E6LVHWUDWDGHWH[WRHVWiVXEUD\DGR
4XpHV+RWPDLO"
D/DFHQWUDOGHWRGRVORVFRUUHRVHOHFWUyQLFRV
E8QVHUYLFLRJUDWXLWRGHFRUUHRHOHFWUyQLFR
F8QVHUYLFLRGHFRUUHRHOHFWUyQLFRGHPD\RUUDSLGH]GHORKDELWXDO
$TXpSXHGHFRUUHVSRQGHUHOQ~PHUR"
D$XQDGLUHFFLyQ,3
E$XQDGLUHFFLyQ0$&
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DFRQH[LyQGHRUGHQDGRUHVGHQWURGHOHVSDFLRItVLFRTXHSXHGDVHUXQHGL
ILFLRRFRPSOHMRLQVWLWXFLRQDOVHGHQRPLQD
D7HOQHW
E/$1
F:$1
&XiOGHODVVLJXLHQWHVUHVSXHVWDVHVXQHMHPSORGH85/"
D/DGLUHFFLyQFRPSOHWDGHXQDSiJLQD:HE
E(OQRPEUHGHXQ%XVFDGRU
F8QSURWRFRORGHWUDQVPLVLyQGHILFKHURV
4XLpQFUHyHQOD:RUOG:LGH:HE"
D7HG1HOVRQ
E7LP%HUQHUV/HH
F%LOO*DWH
6LVHQRVIDFLOLWDQVHLVQ~PHURVVHSDUDGRVSRUSXQWRVDFXiOGHODVVL
JXLHQWHVUHVSXHVWDVSRGUtDUHIHULUVH"
D8QQRPEUHGHGRPLQLR
E8QQ~PHUR0DF
F8QDGLUHFFLyQ,3
6LXQDRSFLyQGHFXDOTXLHUPHQ~DSDUHFHFRQXQWLSRGHOHWUDPiVGHJUDGD
GRVLJQLILFDTXH
D6LVHHOLJHDSDUHFHXQPHQ~FRQPiVRSFLRQHV
E(VDRSFLyQQRHVWiGLVSRQLEOHHQHVRVPRPHQWRV
F(VDRSFLyQ\DKDVLGRHVFRJLGDFRQDQWHULRULGDG
&yPR VH OODPDQ ORV SHTXHxRV HVSDFLRV SXEOLFLWDULRV GH ODV SiJLQDV
:HEV"
D)UDPHV
E%DQQHUV
F/$1
6L ORV RUGHQDGRUHV GH XQD RUJDQL]DFLyQ HPSUHVDULDO WUDEDMDQ FRQHFWDGRV
HQWUHVtXWLOL]DQGRHOSURWRFROR7&3,3DWUDYpVGHODUHGGH,QWHUQHWFRQHFWDQGR
GLVSRVLWLYRVVLWXDGRVDJUDQGLVWDQFLDHQWUHVtGHFLPRVTXHVHWUDWDGHXQDUHG
D/$1
E8VHQHW
F,QWUDQHW

32/,&$1$&,21$/(6&$/$%6,&$
7(671
,QGLTXHHOWpUPLQRTXHVHUHILHUHDXQQDYHJDGRUGH,QWHUQHW
D0RVDLF
E$FWLYH;
F-DYD
3DUDODFRQH[LyQItVLFDGHYDULRVRUGHQDGRUHVIRUPDQGRXQDUHGHVLPSUHV
FLQGLEOHHOVLJXLHQWHHOHPHQWRKDUGZDUH
D8QSOXJJLQ
E3XHUWRV86%
F8QDGDSWDGRUGHUHG
/RVWH[WRVUHVDOWDGRVGHODVSiJLQDVZHETXHFXDQGRVHSXOVDVREUHHOORV
DEUHQ RWUDV SiJLQDV UHODFLRQDGDV FRQ OD TXH HVWDPRV DFWXDOPHQWH VH FRQRFHQ
FRPR
D-DYD
E2&5
F+LSHUWH[WR
8QDUHGGHFRPXQLFDFLRQHVGHQWURGHXQDGLVWDQFLDItVLFDOLPLWDGDDXQD
FLXGDGVHFRQRFHFRPR
D/$1
E:$1
F0$1
(OSURJUDPDPHGLDQWHHOFXDOXQFOLHQWHVROLFLWDXQGRFXPHQWRGHXQVHUYL
GRUVHOODPD
D1DYHJDGRU
E%XVFDGRU
F&RPSLODGRU
/DVXEPiVFDUDGHUHGVHXWLOL]DMXQWRD
D(OQRPEUHGHGRPLQLR
E/DGLUHFFLyQ,3
F(O,GHQWLILFDGRU0$&
4XpHVXQ85/"
D8QDSODFDEDVH
E8QWLSRGHPHPRULD
F'LUHFFLyQTXHORFDOL]DXQUHFXUVRHQ,QWHUQHW
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDWHFQRORJtDTXHPHMRUDHODQFKRGHEDQGDGHOFDEOHDGRWHOHIyQLFRJUD
FLDVDXQRVPpWRGRVGHFRPSUHVLyQTXHORSRVLELOLWDQSRUVHUXQDWUDQVPLVLyQGLJL
WDOVHFRQRFHFRPR
D0RGHP
E5RXWHU
F$'6/
(OWpUPLQR,QWUDQHWKDFHDOXVLyQD
D 5HGHV TXH DSURYHFKDQ OD YHQWDMD GH ,QWHUQHW SDUD VX XWLOL]DFLyQ LQWHUQD HQ UHGHV
FRUSRUDWLYDV
E8QDUHGGHiUHDORFDO
F8QVHUYLFLRGHXVXDULRVGHQRWLFLDV
/DXQLGDGGHYHORFLGDGGHWUDQVPLVLyQHV
D(OSXQWRSRUSXOJDGD
E(OELWSRUVHJXQGR
F(ONLORE\WH
(OSURJUDPDTXHIXQFLRQDHQXQRUGHQDGRUSUHSDUDGRSDUDIDFLOLWDUODLQIRU
PDFLyQTXHRWURVRUGHQDGRUHVVROLFLWDQVHOODPD
D6HUYLGRU
E&OLHQWH
F1DYHJDGRU
&XiOHVHOSURWRFRORGH,QWHUQHW"
D$6&,,
E7&3,3
F+70/
(OSUR\HFWR:::HV
D(XURSHR
E1RUWHDPHULFDQR
F-DSRQpV
4XpOHQJXDMHGHORVVLJXLHQWHVVHXWLOL]DSDUDFRQIHFFLRQDUSiJLQDV:HE"
D&
E+70/
F64/

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LXQDGHODVRSFLRQHVGHOPHQ~9HUWLHQHDVXGHUHFKDXQSHTXHxRWULiQ
JXORFRQHOYpUWLFHDODGHUHFKDQRVHVWiLQGLFDQGRTXH
D/DRSFLyQ\DHVWiLQYLVLEOH
E(VDRSFLyQQRHVWiYLVLEOH
F$OSXOVDUVHVREUHHOODVHGHVDUUROODXQPHQ~FRQGLVWLQWDVRSFLRQHV
/RVGRFXPHQWRVTXHHOVHUYLGRUHQYtDDOFOLHQWHHQODUHGGH,QWHUQHWHVWiQ
HVFULWRHQOHQJXDMH
D(QVDPEODGRU
E0iTXLQD
F+70/
6HxDOHHOVRIWZDUHTXHEiVLFDPHQWHQRWHQJDUHODFLyQFRQ,QWHUQHWDXQTXH
VHSXHGDXVDUSDUDFRPXQLFDUVH
D8QQDYHJDGRU
E8QJHVWRUGHOFRUUHRHOHFWUyQLFR
F8QSURFHVDGRUGHWH[WR
/DGHQRPLQDFLyQJHQpULFDGHODVQRUPDVSDUDODVUHGHV/$1VHFRQRFHQ
FRPR
D3URWRFROR7&3,3
E'LUHFFLyQ,3
F,(((
$OILFKHURSHULIpULFRHWFTXHVHSXHGHFRPSDUWLUFRQORVGHPiVXVXDULRV
FRQHFWDGRVDXQDUHGGHRUGHQDGRUHVVHOHOODPDJHQpULFDPHQWH
D3UREOHPD
E+DUGZDUH
F5HFXUVR
'HOVLJXLHQWHVRIWZDUHXQRQRVHFRUUHVSRQGHFRQORTXHVHFRQRFHFRPR
QDYHJDGRU
D1HWVFDSH
E([SORUHU
F:LQ]LS
/DVSULPHUDVVLJODVGHXQ85/FRPSRQHQHO
D1RPEUHGHGRPLQLRGHOVHUYLGRU
E'DWRGHGLUHFFLyQ,3GHOVHUYLGRU
F3URWRFRORGHWUDQVIHUHQFLD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QUHODFLyQFRQORVWpUPLQRV+773\+70/VHxDOHODUHVSXHVWDYHUGDGHUD
D$PERVWpUPLQRVDOXGHQDOPLVPRFRQFHSWR
E(OSULPHURHVXQSURWRFRORGHWUDQVPLVLyQ
F(OSULPHURHVXQOHQJXDMHSDUDFRQIHFFLRQDUSiJLQDVZHEV
(QXQ85/YDLQFOXLGD
D/DGLUHFFLyQ,3
E(OQRPEUHGHGRPLQLR
F(OQRPEUHGHOXVXDULR
,QGLTXHGHORVVLJXLHQWHVHOVLVWHPDSUHFXUVRUGH,QWHUQHW
D,QWUDQHW
E$USDQHW
F(WKHUQHW
(OFRQMXQWRGHUHJODVTXHXWLOL]DXQRUGHQDGRUSDUDFRPXQLFDUVHHQXQDUHG
VHOODPD
D/HQJXDMHGHSURJUDPDFLyQ
E3URWRFROR
F&yGLJR$6&,,
/DUHGTXHFRQHFWDRUGHQDGRUHVDXQQLYHOSULYDGRVHFRQRFHFRPR
D,QWHUQHW
E,QWUDQHW
F3URWRFROR7&3,3
$TXLpQVHGHEHODXWLOL]DFLyQSRUSULPHUDYH]GHOWpUPLQRKLSHUWH[WR"
D7LP%HUQHUV/HH
E%LOO*DWHV
F7HG1HOVRQ
(QLQIRUPiWLFDDODFDQWLGDGGHELWVTXHSXHGHQYLDMDUSRUXQPHGLRItVLFR
SRUXQLGDGGHWLHPSRGHIRUPDTXHPLHQWUDVPD\RUVHDPiVUiSLGRVHREWHQGUiOD
LQIRUPDFLyQHVHOFRQFHSWRGH
D$QFKRGHEDQGD
E%LWUDWH
F&RPSUHVLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
/DVFRQYHUVDFLRQHVSRUHVFULWRHQWLHPSRUHDODWUDYpVGH,QWHUQHWUHFLEHQ
HOQRPEUHGH
D7HOQHW
E&KDW
F/LVWDVGHGLVWULEXFLyQ
/DSRVLELOLGDGGHTXHXQRUGHQDGRUDMHQRDXQDUHGSULYDGDSXHGDXWLOL]DU
SDUWHGHODLQIRUPDFLyQGHHVDUHGVHOODPD
D([WUDQHW
E,QWUDQHW
F,QWHUQHW
/DVUHGHVLQDOiPEULFDVXWLOL]DQXQDWHFQRORJtDGHIUHFXHQFLDVUDGLRHOpFWUL
FDVGHQRPLQDGD
D(WKHUQHW
E/RFDO7DON
F:LUHOHVV)LGHOLW\
&yPRVHFODVLILFDODLQIRUPDFLyQTXHSURSRUFLRQDOD:::"
D(QGLUHFWRULRV
E(QSiJLQDVZHE
F3RUSXQWRV
&yPRFDOLILFDUtDDXQD/$1"
D5HGGHJUDQGHVGLPHQVLRQHV
E5HGGHPHGLDQDVGLPHQVLRQHV
F5HGGHSHTXHxDVGLPHQVLRQHV
6LXQDGHODVRSFLRQHVGHOPHQ~9HUHVWiPDUFDGDDVXL]TXLHUGDLQGLFDTXH
D(VDRSFLyQ\DHVWiYLVLEOH
E(VDRSFLyQQRHVWiYLVLEOH
F(VDRSFLyQQRSXHGHXWLOL]DUVH
(OSURWRFRORGHWUDQVIHUHQFLDGHILFKHURVHQ,QWHUQHWVHFRQRFHFRPR
D+WWS
E1HZV
F)WS
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OSURWRFRORGH,QWHUQHWTXHSXHGHFRQHFWDUXQRUGHQDGRUFRQRWURUHPRWR
HQWLHPSRUHDOVyORHQPRGRWH[WRDFFHGLHQGRDVXVGDWRVHV
D)WS
E,UF
F7HOQHW
4XpHV-DYD"
D8QDEDVHGDWRVHQVHUYLFLRWRGRHOGtD
E8QOHQJXDMHGHSURJUDPDFLyQHVSHFLDOL]DGRHQSiJLQDVZHE
F8QVHUYLGRUGHQRPEUHVGHGRPLQLR
/DWLSRORJtDGHUHGHQODTXHWRGRVORVRUGHQDGRUHVVHFRQHFWDQDXQFRQ
WURODGRUFHQWUDOVHOODPD
D(QHVWUHOOD
E(QDQLOOR
F(QEXV
8QDUHGGHiUHDXQLYHUVDOWDOFRPR,QWHUQHWUHFLEHHOQRPEUHJHQpULFRGH
D/$1
E7HOQHW
F:$1
&yPRVHFRQRFHHQWpUPLQRVGH,QWHUQHWDXQSHTXHxRDUFKLYRTXHHOVHU
YLGRUZHEHQYtDDOFOLHQWH\TXHVHJXDUGDHQVXPiTXLQDGHIRUPDTXHFXDQGRHO
QDYHJDGRUYXHOYHDUHDOL]DUXQDSHWLFLyQDHVHVLWLRHQYtDXQDFRSLDGHOPLVPRFRQ
GDWRVGHGLFKRXVXDULR"
D9LUXV
E*XVDQR
F&RRNLH
&XDQGRXQDUHGSULYDGDGHQWURGHOFRQFHSWRGH,QWHUQHWWLHQHSDUWHVS~EOL
FDVGRQGHXVXDULRVH[WHUQRVDOVLVWHPDSXHGHQXWLOL]DUODSRUHMHPSORSDUDOOHQDU
IRUPXODULRVTXHIRUPDQSDUWHGHVXVSURFHVRVLQWHUQRVKDEODPRVGH
D,QWUDQHW
E([WUDQHW
F3iJLQD:HE
&DUDFWHUL]DXQDGLUHFFLyQGHFRUUHRHOHFWUyQLFR
D(OVtPERORFRQRFLGRFRPRDUURED
E'RVEDUUDVLQFOLQDGDV
F6XFRPLHQ]RFRQODVVLJODVGHOSURWRFROR+773

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpKHUUDPLHQWDGHODEDUUDHVWiQGDUGHOH[SORUDGRU,QWHUQHW([SORUHUYLH
QHUHSUHVHQWDGDSRUHOLFRQRFRUUHVSRQGLHQWHDXQDHVWUHOODGHFLQFRSXQWDV"
D1LQJXQD
E)DYRULWRV
F%~VTXHGD
6LHQODEDUUDGHKHUUDPLHQWDVGH,QWHUQHW([SORUHUSXOVDPRVVREUHXQLFRQR
UHSUHVHQWDQGRXQGRFXPHQWRFRQXQDVSDHQVXFHQWUR
D6HFDUJDODSiJLQDLQLFLDO
E6DOLPRVGHOQDYHJDGRU
F'HWHQHPRVODE~VTXHGDGHXQDSiJLQD
(QHOFDVRGHTXHSXOVHPRVVREUHFXDOTXLHUOXJDUGHODSDQWDOODFRQHOERWyQ
GHUHFKRGHOUDWyQ
D$SDUHFHHOPHQ~GHHGLFLyQ
E1RRFXUUHQDGD
F$SDUHFHXQPHQ~FRQWH[WXDO
4Xp VH KDFH QHFHVDULR SDUD DFFHGHU D LQIRUPDFLyQ GH XQD ,QWUDQHW VLQ
SHUWHQHFHUDHOOD"
D(VWHVXSXHVWRHVLPSRVLEOH
E8QSDVVZRUGSDUDVDOYDUHOILUHZDOO
F6LPSOHPHQWHORFDOL]DUVX85/
8QSHTXHxRSURJUDPDLQIRUPiWLFRTXHVHDXWRGXSOLFD\DXWRSURSDJDFRQHO
REMHWLYRGHFDXVDUGDxRVHQORVVLVWHPDVLQIRUPiWLFRV\TXHDGLIHUHQFLDGHORV
YLUXVHVWiHVSHFLDOPHQWHGLVHxDGRSDUDFLUFXODUSRUUHGHVVHOODPD
D+DFNHU
E*XVDQR
F7UR\DQR
(QODDSOLFDFLyQ,QWHUQHW([SORUHUDOSXOVDUVREUHXQLFRQRUHSUHVHQWDQGR
XQDFDVD
D1RVSURSRUFLRQDODSRVLELOLGDGGHSHUVRQDOL]DUODDSOLFDFLyQ
E1RVGHVFDUJDOD~OWLPDYHUVLyQGHHVWHSURJUDPD
F$SDUHFHHQSDQWDOODODSiJLQDLQLFLDO
6LHQODEDUUDGHGLUHFFLRQHVSXOVRVREUHXQWULiQJXORFRQHOYpUWLFHKDFLD
DEDMRTXHKD\DVXGHUHFKD
D1RVUHPLWHHOSURJUDPDDODSiJLQDLQLFLDO
E$SDUHFHQODV~OWLPDVGLUHFFLRQHVVROLFLWDGDV
F1RVSHUPXWDODV85/SRUODVGLUHFFLRQHV,3
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(O FRPDQGR &yGLJR )XHQWH TXH QRV SURSRUFLRQD HQ HO ,QWHUQHW ([SORUHU
FRQVLVWHRVLJQLILFD
D(OSURWRFRORHQTXHVHHVWiWUDQVPLWLHQGRXQDSiJLQDZHE
E([SRQHODSiJLQD:HEVHOHFFLRQDGDHQOHQJXDMH+70/
F/RVFHUWLILFDGRVGHXVXDULRH[LVWHQWHV
3DUDFDPELDUODSiJLQDGHLQLFLRGH,QWHUQHW([SORUHUWHQGUtDPRVTXH
D3XOVDUHQIDYRULWRVGHOD%DUUDGH+HUUDPLHQWDV
E3XOVDUHQHOLFRQR,QLFLRGHODEDUUDGHPHQ~
F,UD2SFLRQHVGH,QWHUQHWGHOPHQ~+HUUDPLHQWDV
(OOHQJXDMHRFRQMXQWRGHUHJODVTXHXWLOL]DHORUGHQDGRUSDUDSRGHUFRPX
QLFDUVHFRQRWURFRQHFWDGRDXQDUHGVHOODPD
D3URWRFROR
E,3
F/HQJXDMH
(QHOVLJXLHQWH85/KWWSZZZPDGHVWHVWKWPOVHxDOHODSDUWHTXHUHSUH
VHQWDDOQRPEUHGHGRPLQLR
DZZZPDGHV
EWHVWKWPO
FKWWS
8QVLVWHPDGHFRUUHRZHEPDLOH[LJHGLVSRQHUHQHO3&GH
D8QQDYHJDGRU
E8QFOLHQWHSURSLHWDULR
F8QFOLHQWHGHFRUUHR2XWORRN
8QRGHORVVLJXLHQWHVGLVSRVLWLYRVQRVHXWLOL]DSDUDFRQHFWDUUHGHVLQIRU
PiWLFDV
D3DVDUHOD
E*DWHZD\
F3HQGULYH
(Q,QWHUQHWFyPRVHOODPDHOPHFDQLVPRGHDVLJQDFLyQGHQRPEUHVLQWH
OLJLEOHVDGLUHFFLRQHV,3"
D)73
E+70/
F'16

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OSURWRFRORPiVH[WHQGLGRHQUHGHV/$1HV
D7&3,3
E7RNHQ5LQJ
F(WKHUQHW
8Q GLVSRVLWLYR HPSOHDGR HQ OD UHG GH ,QWHUQHW TXH WLHQH FRPR PLVLyQ UH
GLUHFFLRQDUORVSDTXHWHVGHGDWRVWUDQVPLWLGRVSDUDTXHYD\DSRUHOFDPLQRPiV
FRUUHFWRHV
D8Q+XE
E8Q*DWHZD\V
F8Q5RXWHU
6LKDEODPRVGHXQ,63QRVUHIHULPRVD
D8Q3URYHHGRUGH6HUYLFLRVGH,QWHUQHW
E8QSURWRFRORGHWUDQVPLVLyQGHGDWRV
F8QPRGHORGHUHG
4XpHVXQVHUYLGRU'16"
D8QGLVSRVLWLYRTXHSHUPLWHDOPDFHQDUQRWLFLDV
E8QVHUYLGRUGHQRPEUHVGHGRPLQLR
F8QVHUYLGRUHPDLO
(QFRQWUDUXQFDPLQRHQWUHHOXVXDULR\HOVHUYLGRUHVODPLVLyQHQFRPHQ
GDGDD
D/RV%ULGJHV
E/RV*DWHZD\V
F/RV5RXWHUV
8QDHPSUHVDGHGLFDGDDFRQHFWDUDOXVXDULRILQDO\GDUPDQWHQLPLHQWRSDUD
TXHORVDFFHVRVIXQFLRQHQFRUUHFWDPHQWHHV
D8QD,63
E8QD,QWUDQHW
F8Q'16
8QDSHTXHxDDSOLFDFLyQTXHVHLQVWDODHQQXHVWURRUGHQDGRUSDUDFRPSOH
PHQWDUODVIXQFLRQHVGHOQDYHJDGRUDILQGHTXHXQDSiJLQDZHEVHSXHGDYLVXDOL]DU
FRQPD\RUFRUUHFFLyQVHFRQRFHFRQHOQRPEUHGH
D'ULYHU
E3OXJLQV
F)UDPH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QRUGHQDGRUSRWHQWHFRQHFWDGRDODUHGLQIRUPiWLFD\TXHRIUHFHGLYHUVRV
VHUYLFLRV HQWUH ORV TXH VH HQFXHQWUDQ HO DORMDPLHQWR GH SiJLQDV ZHE UHFLEH HO
QRPEUHGH
D6HUYLGRU
E,63
F3UR[\
8QRUGHQDGRUTXHLQWHUFHSWDODVFRQH[LRQHVGHUHGTXHXQFOLHQWHKDFHD
XQVHUYLGRUGHGHVWLQRSRUPRWLYRVGHVHJXULGDGUHQGLPLHQWRDQRQLPDWRHWFVH
OHOODPD
D5RXWHU
E6HUYLGRU'16
F6HUYLGRUSUR[\
&XiQWRVQ~PHURVIRUPDQXQDVXEPiVFDUDGHUHG"
D'HSHQGHGHOVLVWHPD
E&XDWUR
F6HLV
4XpWLSRGHRQGDVHOHFWURPDJQpWLFDVVHXWLOL]DHQODWHFQRORJtD%OXHWRRWK"
D/X]YLVLEOH
E,QIUDUURMRV
F0LFURRQGDV
4XpFRQYHUVLyQUHDOL]DXQVHUYLGRU'16"
D&DPELDHOQRPEUHGHGRPLQLRSRUXQDGLUHFFLyQ,3
E&DPELDXQDGLUHFFLyQ,3SRUXQQRPEUHGHGRPLQLR
F&DPELDXQ85/SRUXQSURWRFROR
$OVROLFLWDUXQDSiJLQDZHEHO~OWLPRGDWRTXHVHOHHHQVX85/HV
D(OQRPEUHGHGRPLQLR
E(OQRPEUHGHODSiJLQDZHEVROLFLWDGD
F(OSURWRFRORGHWUDQVPLVLyQ
/RVSHTXHxRVSURJUDPDVTXHXQDSiJLQDUHFLELGDLQVWDODHQQXHVWURRUGH
QDGRUDOREMHWRGHIDFLOLWDUVXEDMDGDSRVWHULRURGHVDEHUODVYHFHVTXHQRVKHPRV
FRQHFWDGRDHOODUHFLEHQHOQRPEUHGH
D3OXJLQV
E&RRNLHV
F6FULSWV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
7RGRVHUYLGRUGH,QWHUQHWGHGLFDGRDIDFLOLWDUDORVFOLHQWHVLQIRUPDFLyQVR
EUHGLUHFFLRQHVH[LVWHQWHVHQVXVDUFKLYRVGHSiJLQDVUHODWLYDVDOWHPDVROLFLWDGR
HVHOFRQFHSWRGH
D3URYHHGRUGH6HUYLFLRVGH,QWHUQHW
E6HUYLGRU3UR[\
F%XVFDGRU
&yPRSRGHPRVH[FOXLUGHXQDE~VTXHGDHQ*RRJOHXQDSDODEUDHQFRQFUHWR"
D$QWHSRQLpQGROHODSDODEUDQR
E(QPDUFiQGRODHQWUHSDUpQWHVLV
F$QWHSRQLpQGROHHOVLJQRPHQRV\XQHVSDFLR
4XpHVXQEORJ"

D3DUWHGHOKDUGZDUHGHFRPXQLFDFLRQHVTXHHQOD]DGRVUHGHVGHGLVWLQWRVWLSRV
E8QVLWLRZHEGRQGHXQRRYDULRVDXWRUHVH[SRQHQVXVDUWtFXORVDFWXDOL]DQGRVXFRQ
WHQLGRPX\DPHQXGR
F8QDSiJLQDZHEGHGLFDGDDOFRPHUFLR
6REUH,QWHUQHWFXiOGHODVVLJXLHQWHVHVXQDGLUHFFLyQ,3FRUUHFWDPHQWH
DVLJQDEOH"
D
E
F
4XpVLJQLILFDQODVVLJODV:::"
D:RUOG:LGH:HE
E:RUOG:LGH:DY
F:DU:RXOG:HDU
$TXLpQSHUWHQHFHHQ,QWHUQHWODH[WHQVLyQFRP"
D$ODVRUJDQL]DFLRQHVQRJXEHUQDPHQWDOHV
E$ODDVRFLDFLRQHVUHODFLRQDGDVFRQODUHG
F$ODVRUJDQL]DFLRQHVFRPHUFLDOHV
/RVGLVSRVLWLYRVTXHSHUPLWHQXQSXQWRGHFRQH[LyQGHOFDEOHDGRSDUDLQ
WHUFRPXQLFDUItVLFDPHQWHORVRUGHQDGRUHVHQWUHVtHQFXDOTXLHUWLSRGHWRSRORJtD
VHGHQRPLQDQ
D7DUMHWDVGHYtGHR
E7DUMHWDVGHUHG
F:L)L
32/,&$1$&,21$/(6&$/$%6,&$

7(671
+RWPDLO*PDLO<DKRRPDLOWLHQHWRGRVHOORVHQFRP~QTXHVRQ
D2XWORRNPDLO
E:HEPDLO
F%XVFDGRUHV
/DLQIRUPDFLyQSXEOLFDGDHQRUGHQFURQROyJLFRHQXQVLWLRZHESRUSDUWHGH
XQXVXDULR\TXHVXHOHGLVSRQHUGHXQVLVWHPDGHFRPHQWDULRVSDUDHVWDEOHFHUXQD
FRQYHUVDFLyQFRQHODXWRUDFHUFDGHORSXEOLFDGRHVHOFRQFHSWRGH
D:HEPDLO
E:HEVLWH
F%ORJ
8QRGHORVPiVGHVWDFDGRVVLWLRVZHEGHUHGHVVRFLDOHVYLUWXDOHVHVFR
QRFLGRFRQHOQRPEUHGH
D)DFHERRN
E%RRNPDUN
F:HEVLWH
8QDILUPDGLJLWDOHV
D,QIRUPDFLyQFLIUDGDTXHLGHQWLILFDDODXWRUGHXQGRFXPHQWRHOHFWUyQLFR\DXWHQWLFD
VXLGHQWLGDG
E8QDILUPDGHODXWRUGHXQGRFXPHQWRHOHFWUyQLFRTXHGLJLWDOL]DVXILUPDJUiILFDDXWpQWLFD
F8QGRFXPHQWRGHIRUPDWRGLJLWDOJUiILFRTXHUHSUHVHQWDODILUPDGHVXDXWRU
8QVHUYLGRUDXWRPDWL]DGRTXHVHXWLOL]DHQ,QWHUQHW\FX\DPLVLyQHVFRQ
YHUWLUQRPEUHVGHXQDGLUHFFLyQ85/DGLUHFFLRQHVQXPpULFDVGH,3HVXQ
D:HEVLWH
E'16
F*DWHZD\
/DGHVFULSFLyQIRUPDOGHIRUPDWRVGHPHQVDMH\GHUHJODVTXHGRVFRPSX
WDGRUDVGHEHQVHJXLUSDUDLQWHUFDPELDUGLFKRVPHQVDMHVHVHOFRQFHSWRGH
D3URWRFROR
E7UDQVPLVLyQ
F1RUPDWLYD
8Q6HUYLGRUGH,QWHUQHWHQFDUJDGRGHTXHXQDUHGSULYDGDWHQJDDFFHVRD
HVWHVHUYLFLRDWUDYpVGHpO\TXHFRQWLHQHPHFDQLVPRVGHVHJXULGDGTXHLPSLGHQ
DFFHVRVQRDXWRUL]DGRVDODPLVPDHVXQ
D,63
E3UR[\
F5RXWHU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LQRVUHIHULPRVDXQGLVSRVLWLYRTXHHQOD]DDOPHQRVGRVUHGHV\TXH
WLHQHFRPRPLVLyQGHWHUPLQDUHOVLJXLHQWHSXQWRGHODUHGKDFLDGRQGHVHGLULJHXQ
SDTXHWHGHGDWRVHQVXGHVWLQRHVWDPRVKDEODQGRGH
D5RXWHU
E,63
F'16
&yPRVHOHOODPDDOSURJUDPDLQIRUPiWLFRTXHOOHYDHQVXLQWHULRUHOVRIW
ZDUHQHFHVDULRSDUDTXHVXFUHDGRUSXHGDDFFHGHUVXEUHSWLFLDPHQWHDOLQWHULRUGHO
VLVWHPDHQTXHVHLQVWDOH"
D9LUXVLQIRUPiWLFR
E*XVDQR
F7UR\DQR
(OVLVWHPDSUHFXUVRUGHO,QWHUQHWGHVDUUROODGRSRUHO'HSDUWDPHQWRGH'H
IHQVDGHORV(VWDGRV8QLGRVDILQDOHVGHORVVHVHQWD\SULQFLSLRVGHORVVHWHQWDGHO
VLJORSDVDGRFRPRXQH[SHULPHQWRGHXQDUHGDPSOLD\QRFHQWUDOL]DGDTXHSXGLHUD
UHVLVWLUXQDJXHUUDQXFOHDUVHOODPD
D,QWUDQHW
E$USDQHW
F([WUDQHW
/DVUHGHVWHOHPiWLFDVSHTXHxDVFX\RVRUGHQDGRUHVHVWiFRQHFWDGRVSRU
RQGDVHOHFWURPDJQpWLFDVVLQFDEOHVFRQHFWRUHVVHGHQRPLQDQ
D/$1
E:$1
F:/$1
3HTXHxRWUR]RGHGDWRVTXHHQWUHJDHOSURJUDPDVHUYLGRUGHKWWSDOQD
YHJDGRU SDUD TXH pVWH OR JXDUGH 1RUPDOPHQWH VH WUDWD GH LQIRUPDFLyQ VREUH OD
FRQH[LyQRORVGDWRVUHTXHULGRV(VWDPRVKDEODQGRGH
D9LUXV
E&RRNLHV
F7UR\DQRVRJXVDQRV
5HVSHFWRDOEXVFDGRU*RRJOHHQFDVWHOODQRVHxDOHODUHVSXHVWDTXHFRQ
VLGHUHFRUUHFWD
D1RUHFRQRFHODOHWUDf
E$PHQRVSDODEUDVSDUDEXVFDUPiVVHOHFWLYDHVODE~VTXHGD
F$PiVSDODEUDVSDUDEXVFDUPiVVHOHFWLYDHVODE~VTXHGD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HHQWLHQGHSRUPDOZDUH
D6RIWZDUHPDOLJQRWDOFRPRYLUXVWUR\DQRVHWF
E6RIWZDUHHQSUXHED
F7RGRVORVSURJUDPDVTXHSRGHPRVDGTXLULUHQODZHEGHIRUPDJUDWXLWD
4XpHVXQVLWLRZHE"
D/DSiJLQDGHLQLFLRGHXQQDYHJDGRU
E8QOXJDUHQODUHGGRQGHVHDOEHUJDQODVSiJLQDVFRUUHVSRQGLHQWHVDXQGRPLQLRR
VXEGRPLQLR
F3iJLQDZHETXHFRQWLHQHLQIRUPDFLyQIXQGDPHQWDOGHXQDHQWLGDG
6HxDOHXQWpUPLQRTXHQRGHILQDXQSURJUDPDGHWLSRQDYHJDGRU
D*RRJOH&KURPH
E0R]LOOD)LUHIR[
F([SORUDGRUGH:LQGRZV
8QDXELFDFLyQHQODUHGGH,QWHUQHWTXHRIUHFHDOXVXDULRGHXQDIRUPD
LQWHJUDGDDFFHVRDUHFXUVRVUHODFLRQDGRVFRQXQPLVPRWHPDSDUWLFXODUHVXQ
D3RUWDO
E6LWLR:HE
F6HUYLGRU3UR[\
/DVSiJLQDVZHETXHWHQHPRVLQWHQFLyQGHYLVLWDUHQRWURPRPHQWR\TXH
QRVLQWHUHVDFRQVHUYDUODVWLHQHQXQOXJDUGHXELFDFLyQGHQWURGHOQDYHJDGRU,QWHU
QHW([SORUHUTXHVHOODPD
D+LVWRULDO
E&RRNLHV
F)DYRULWRV
3DUDSRGHUYHUHOFyGLJRIXHQWHGHXQDSiJLQDZHEXWLOL]DQGRHOQDYHJDGRU
,QWHUQHW([SORUHULQFOXLGRHQHOVLVWHPDRSHUDWLYR:LQGRZV;3HVGHFLUHOFyGLJR
IXHQWHGHODSURSLDSiJLQDHQIRUPDWRKWPOKHPRVGHDEULUHOPHQ~
D)DYRULWRV
E(GLFLyQ
F9HU
6HxDOHODEDUUDGHPHQ~VTXHFRQWLHQHODDSOLFDFLyQ,QWHUQHW([SORUHUTXH
QRFRQWLHQH0LFURVRIW:RUG
D%DUUDGHGLUHFFLRQHV
E%DUUDGHERWRQHVRKHUUDPLHQWDVHVWiQGDU
F%DUUDGHWtWXOR

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
E/DIRUPDGHDFFHGHUDXQVHUYLGRU
D3URQRPEUHVGHWHUPLQDQWHV
F(QODFRQH[LyQHQDQLOORDPHGLGDTXHKD\PiVRUGHQDGRUHVFRQHFWDGRVPD\RU
UHQGLPLHQWRVHWLHQH
F/DGRVVRQFRUUHFWDV
D8QGLVSRVLWLYRGLVWULEXLGRUOODPDGRKXEKDFHOOHJDUODVHxDODWRGRVORVRUGH
QDGRUHVFRQHFWDGRV
F+RVW
F(QHVWUHOOD
D6HSXHGHUHPLWLUMXQWRDOFRUUHRFXDOTXLHURWURDUFKLYRLQIRUPiWLFR
D$XQDGLUHFFLyQ,3
F(OSULPHURHVXQGLVWULEXLGRULQWHOLJHQWHHQODWRSRORJtDHQHVWUHOOD\HOVHJXQGR
XWLOL]DGRHQHVWDPLVPDWRSRORJtDQRORHV
E6HLV
D8QQRPEUHGHO6LVWHPDGH1RPEUHVGH'RPLQLR
D/DEDUUDGHWtWXORGHODSiJLQDZHE
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E8QVHUYLFLRJUDWXLWRGHFRUUHRHOHFWUyQLFR
E/$1
D/DGLUHFFLyQFRPSOHWDGHXQDSiJLQD:HE
E7LP%HUQHUV/HH
E8QQ~PHUR0DF
E(VDRSFLyQQRHVWiGLVSRQLEOHHQHVRVPRPHQWRV
E%DQQHUV
F,QWUDQHW
D0RVDLF
F8QDGDSWDGRUGHUHG
F+LSHUWH[WR
F0$1
D1DYHJDGRU
E/DGLUHFFLyQ,3
F'LUHFFLyQTXHORFDOL]DXQUHFXUVRHQ,QWHUQHW
F$'6/
D5HGHVTXHDSURYHFKDQODYHQWDMDGH,QWHUQHWSDUDVXXWLOL]DFLyQLQWHUQDHQUHGHV
FRUSRUDWLYDV
E(OELWSRUVHJXQGR
D6HUYLGRU
E7&3,3
D(XURSHR
E+70/

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F$OSXOVDUVHVREUHHOODVHGHVDUUROODXQPHQ~FRQGLVWLQWDVRSFLRQHV
F+70/
F8QSURFHVDGRUGHWH[WR
F,(((
F5HFXUVR
F:LQ]LS
F3URWRFRORGHWUDQVIHUHQFLD
E(OSULPHURHVXQSURWRFRORGHWUDQVPLVLyQ
E(OQRPEUHGHGRPLQLR
E$USDQHW
E3URWRFROR
E,QWUDQHW
F7HG1HOVRQ
D$QFKRGHEDQGD
E&KDW
D([WUDQHW
F:LUHOHVV)LGHOLW\
E(QSiJLQDVZHE
F5HGGHSHTXHxDVGLPHQVLRQHV
D(VDRSFLyQ\DHVWiYLVLEOH
F)WS
F7HOQHW
E8QOHQJXDMHGHSURJUDPDFLyQHVSHFLDOL]DGRHQSiJLQDVZHE
D(QHVWUHOOD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F:$1
F&RRNLH
E([WUDQHW
D(OVtPERORFRQRFLGRFRPRDUURED
E)DYRULWRV
F'HWHQHPRVODE~VTXHGDGHXQDSiJLQD
F$SDUHFHXQPHQ~FRQWH[WXDO
E8QSDVVZRUGSDUDVDOYDUHOILUHZDOO
E*XVDQR
F$SDUHFHHQSDQWDOODODSiJLQDLQLFLDO
E$SDUHFHQODV~OWLPDVGLUHFFLRQHVVROLFLWDGDV
E([SRQHODSiJLQD:HEVHOHFFLRQDGDHQOHQJXDMH+70/
F,UD2SFLRQHVGH,QWHUQHWGHOPHQ~+HUUDPLHQWDV
D3URWRFROR
DZZZPDGHV
D8QQDYHJDGRU
F3HQGULYH
F'16
F(WKHUQHW
F8Q5RXWHU
D8Q3URYHHGRUGH6HUYLFLRVGH,QWHUQHW
E8QVHUYLGRUGHQRPEUHVGHGRPLQLR
F/RV5RXWHUV
D8QD,63

32/,&$1$&,21$/(6&$/$%6,&$
7(671
E3OXJLQV
D6HUYLGRU
F6HUYLGRUSUR[\
E&XDWUR
F0LFURRQGDV
D&DPELDHOQRPEUHGHGRPLQLRSRUXQDGLUHFFLyQ,3
E(OQRPEUHGHODSiJLQDZHEVROLFLWDGD
E&RRNLHV
F%XVFDGRU
F$QWHSRQLpQGROHHOVLJQRPHQRV\XQHVSDFLR
E8QVLWLRZHEGRQGHXQRRYDULRVDXWRUHVH[SRQHQVXVDUWtFXORVDFWXDOL]DQGRVX
FRQWHQLGRPX\DPHQXGR
D
D:RUOG:LGH:HE
F$ODVRUJDQL]DFLRQHVFRPHUFLDOHV
E7DUMHWDVGHUHG
E:HEPDLO
F%ORJ
D)DFHERRN
D,QIRUPDFLyQFLIUDGDTXHLGHQWLILFDDODXWRUGHXQGRFXPHQWRHOHFWUyQLFR\DX
WHQWLFDVXLGHQWLGDG
E'16
D3URWRFROR
E3UR[\
D5RXWHU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
F7UR\DQR
E$USDQHW
F:/$1
E&RRNLHV
F$PiVSDODEUDVSDUDEXVFDUPiVVHOHFWLYDHVODE~VTXHGD
D6RIWZDUHPDOLJQRWDOFRPRYLUXVWUR\DQRVHWF
E8QOXJDUHQODUHGGRQGHVHDOEHUJDQODVSiJLQDVFRUUHVSRQGLHQWHVDXQGRPL
QLRRVXEGRPLQLR
F([SORUDGRUGH:LQGRZV
D3RUWDO
F)DYRULWRV
F9HU
D%DUUDGHGLUHFFLRQHV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
25,*(1'(/$6$50$6'()8(*2$50$6'($17(&$5*$<
'(5(752&$5*$&/$6,),&$&,1<'(),1,&,1'(/$6$50$6'()8(*2
&$578&+20(7/,&2<6(0,0(7/,&2'(),1,&,1<&20321(17(6
$50$6352+,%,'$6'2&80(17$&,148($03$5$/$7(1(1&,$
<3257('($50$6
$ TXp FDWHJRUtD SHUWHQHFH XQ DUPD ODUJD UD\DGD GHO FDOLEUH PP
DPHULFDQR"
D$OD3ULPHUD&DWHJRUtD
E$OD6HJXQGD&DWHJRUtD
F$OD7HUFHUD&DWHJRUtD
&XiOHVVRQORVFRPSRQHQWHVGHXQFDUWXFKRPHWiOLFR"
D9DLQDSLVWyQWDFRSUR\HFWLOHV
E9DLQDSLVWyQFDUJDGHSUR\HFFLyQ\EDOD
F&XORWHFDUJDGHSUR\HFFLyQWDFR\SUR\HFWLOHV
4Xp WLSR GH DUPD HV DTXpOOD TXH VH UHFDUJD DXWRPiWLFDPHQWH SHUR TXH
HIHFW~DXQGLVSDURFDGDYH]"
D$XWRPiWLFD
E6HPLDXWRPiWLFD
F'HUHSHWLFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(671
/DIXHU]DPRWUL]GHXQDUPDGHIXHJRHV
D/DFRPSUHVLyQGHDLUHHQXQUHFHSWiFXOR
E/DH[SORVLyQGHODSyOYRUDDFRQVHFXHQFLDGHODH[SDQVLyQGHORVJDVHV
F/DH[SDQVLyQGHORVJDVHVDOGHIODJUDUODSyOYRUD
4XpIXHU]DPRWUL]LPSXOVDDOSUR\HFWLOHQODVDUPDVGHOD&XDUWD&DWHJRUtD"
D/DHODVWLFLGDGGHXQPDWHULDO
E/DFRPSUHVLyQGHXQJDV\VXSRVWHULRUH[SDQVLyQ
F/DH[SDQVLyQGHXQJDVSRUGHIODJUDFLyQGHODSyOYRUD
7RGDSHUVRQDItVLFDRMXUtGLFDTXHSRVHDDUPDVGHIXHJRHVWiREOLJDGDD
D3UHVHQWDUODVDQXDOPHQWHDQWHORVDJHQWHVGHOD$XWRULGDGHQFDUJDGRVGHHVWDPDWHULD
E$GRSWDUFXDQWDVPHGLGDVUHVXOWHQQHFHVDULDVSDUDHYLWDUVXSpUGLGDURERRVXVWUDFFLyQ
F'HFODUDUVXSpUGLGDPHGLDQWHGHQXQFLDSUHVHQWDGDDQWHHO-XH]GH*XDUGLD
3RUVXVLVWHPDGHLJQLFLyQODVDUPDVGHIXHJRGHFXDOTXLHUpSRFDVHFODVL
ILFDQHQ
D'HPHFKDGHFKLVSD\GHSLVWyQ
E'HDYDQFDUJD\GHUHWURFDUJD
F'HSULPHUDGHVHJXQGD\GHWHUFHUDFDWHJRUtD
6HxDOHHOFRPSRQHQWHGHOTXHQRGLVSXVLHURQHQVXVLQLFLRVORVFDUWXFKRVGHO
VLVWHPD)OREHUW
D,QLFLDGRURIXOPLQDQWH
E3UR\HFWLO
F&DUJD
6HxDOHHOWLSRGHFDUWXFKRTXHQRVHXWLOLFHFRP~QPHQWHSDUDSLVWROD
D6HPLPHWiOLFR
E'HLPSXOVLyQ
F'HIRJXHR
6HxDOHHQWUHODVVLJXLHQWHVRSFLRQHVXQDTXHFRUUHVSRQGDDXQFDOLEUHHX
URSHR
D6 :
EPP
F:LQFKHVWHU

32/,&$1$&,21$/(6&$/$%6,&$
7(671
'HTXpHOHPHQWRGLVSRQHHOSLVWyQ%R[HUTXHQRORWLHQHHO%HUGDQ"
D'H\XQTXH
E'HGHWRQDQWH
F'HRtGR
(QXQFDUWXFKRVHPLPHWiOLFRFRQYHQFLRQDOUHVXOWDXQHOHPHQWRVXSHUIOXR
TXHQRLQIOX\HHQVXIXQFLRQDPLHQWR
D(OWDFR
E(OSLVWyQ
F/RVGRVVRQHVHQFLDOHVSDUDVXIXQFLRQDPLHQWR
(QWUHODVUHVSXHVWDVVHxDOHHODUPDTXHQRSUHFLVHGHJXtDGHSHUWHQHQFLD
D)XVLOGHSHVFDVXEPDULQD
E%DOOHVWD
F$UPDVGHIXHJRDQWLJXDVRKLVWyULFDV
/DVDUPDVGHUHSHWLFLyQ
D'LVSDUDQORVFDUWXFKRVDOPDFHQDGRVHQHOFDUJDGRUFRQVyORPDQWHQHUDSUHWDGDOD
FRODGHOGLVSDUDGRU
E'LVSDUDQWRGRVORVFDUWXFKRVDOPDFHQDGRVHQHOFDUJDGRUDSUHWDQGR\VROWDQGRUH
SHWLGDPHQWHODFRODGHOGLVSDUDGRU
F 'LVSDUDQ WRGRV ORV FDUWXFKRV DOPDFHQDGRV HQ HO FDUJDGRU VL SUHYLDPHQWH VH YDQ
LQWURGXFLHQGRHQODUHFiPDUDSRUPHGLRGHXQGLVSRVLWLYRPHFiQLFR
8QUHYyOYHUGHGREOHDFFLyQGHJDVFRPSULPLGRHVXQDUPD
D'HIXHJRFRUWD
E3HUWHQHFLHQWHDODFXDUWDFDWHJRUtD
&yPR VH SURGXFH OD FRPSUHVLyQ GHO IXOPLQDQWH HQ XQ FDUWXFKR /HIDX
FKHX["
D3RUSHUFXVLyQFHQWUDO
E3RUSHUFXVLyQDQXODU
F3RUSUHVLyQGHXQDYDULOOD
4XLpQIXHHOLQYHQWRUGHODSHUFXVLyQDQXODU"
D/HIDXFKHX[
E+RXOOLHU
F)OREHUW
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QTXpOXJDUGHOFDUWXFKR)OREHUWVHSURGXFHODSHUFXVLyQ"
D(QHOFHQWURGHOFXORWH
E(QHOUHERUGHGHODYDLQD
F(QXQDYDULOOD
(QTXpVLVWHPDGHSHUFXVLyQVHFRQVWUX\HGHIRUPDLQGHSHQGLHQWHHOSLV
WyQLQLFLDGRUGHOUHVWRGHODYDLQD"
D6LVWHPD)OREHUW
E6LVWHPD/HIDXFKHX[
F3HUFXVLyQFHQWUDO
4XpFDWHJRUtDGHDUPDVHVWiH[HQWDGHJXtDGHSHUWHQHQFLD"
D/DFXDUWD
E/DVH[WD
F/DWHUFHUD
/RVFDxRQHVHVWULDGRVDGDSWDEOHVDHVFRSHWDVGHFD]DVHHQFXDGUDQGHQ
WURGHODFDWHJRUtD
D6HJXQGD
E7HUFHUD
F&XDUWD
/DYLJHQFLDGHOD7DUMHWD(XURSHDGH$UPDVGH)XHJRHV
D3HUPDQHQWH
E3RUXQVRORYLDMH
F'HFLQFRDxRVUHQRYDEOHV
1RUHTXLHUHQ/LFHQFLDGH$UPD
D/DVEDOOHVWDV
E/DVDUPDVGHWLURGHSRUWLYR
F/RVIXVLOHVGHLQ\HFFLyQDQHVWpVLFD
,QGLTXHODUHODFLyQFRUUHFWDHQFXDQWRDVXXWLOL]DFLyQFRQMXQWD
DQLPDOLVDFDUWXFKRPHWiOLFR
EQLPDOLVDFDUWXFKRVHPLPHWiOLFR
FQLPDHVWULDGDFDUWXFKRVHPLPHWiOLFR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
4XpWLSRGHSLVWyQVHXWLOL]DHQXQDYDLQDTXHWLHQHVXSURSLR\XQTXH\SRU
ORWDQWRQRWLHQHSRUTXpWHQHUORHOSLVWyQ"
D%HUGDQ
E%R[HU
F(QORVGRVDQWHULRUHV
/DSDUWHGHOFDUWXFKRGRQGHVHDORMDGLUHFWDPHQWHHOLQLFLDGRUHQODFDUWX
FKHUtDDFWXDOVHOODPD
D9DLQD
E3LVWyQ
F*ROOHWH
(QTXpWLSRGHFDUWXFKRWRPDODEDODODVHVWUtDVGHOFDxyQ\VDOHGHVX
ERFDFRQPRYLPLHQWRJLUDWRULR"
D&DUWXFKRPHWiOLFR
E&DUWXFKRVHPLPHWiOLFR
F(QORVGRVDQWHULRUHV
/DVSULPHUDVDUPDVGHIXHJRIXHURQ
D/RVIXVLOHV
E/RVREXVHV
F/DVSLH]DVGHDUWLOOHUtD
3DUDSRVHHUXQDVHJXQGDDUPDODUJDUD\DGDSDUDFD]DPD\RUVHKDGHHVWDU
HQSRVHVLyQGH
D8QDJXtDGHSHUWHQHQFLDSDUDODVGRVDUPDV
E8QD/LFHQFLDGHOWLSR'SDUDODVGRVDUPDV
F8QD/LFHQFLDGHOWLSR'SDUDFDGDXQDGHODVDUPDV
&RQXQD/LFHQFLDGHOWLSR(FXiQWDVDUPDVVHSXHGHQOHJDOL]DU"
D+DVWDVHLVGHFD]D\VHLVGHWLURGHSRUWLYRDGHPiVGHRWUDVDUPDVGHOD&DWHJRUtD
E6HLVGHFD]DRVHLVGHWLSRGHSRUWLYRDGHPiVGHRWUDVDXWRUL]DGDVKDVWDXQWRWDO
GHGRFH
F8QWRWDOGHGRFHDUPDVGHFD]DRGHWLSRGHSRUWLYRLQGLVWLQWDPHQWHVXQ~PHUR
4XLpQFRQFHGHXQD7DUMHWDGH$UPDV"
D(O$OFDOGH
E(O&RPDQGDQWHGHSXHVWRGHOD*XDUGLD&LYLOGHODORFDOLGDG
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6LHOFDOLEUHGHXQDUPDHVVXSHULRUDPPHVWiFODVLILFDGDFRPR
D'HODFDWHJRUtD
E3URKLELGD
F'HJXHUUD
4XpWLSRGH/LFHQFLDGH$UPDVVHQHFHVLWDSDUDSRVHHUXQDEDOOHVWD"
D7LSR'
E7LSR(
F1RVHQHFHVLWDOLFHQFLDGHDUPDV
4XLpQFRQFHGHODVOLFHQFLDVGHWLSR%"
E/D'LUHFFLyQ*HQHUDOGH,QWHUYHQFLyQGH$UPDV
F/D'HOHJDFLyQGHO*RELHUQRHQOD&RPXQLGDG$XWyQRPD
'RFXPHQWDOPHQWHVHWLHQHFRQVWDQFLDGHTXHODOOHJDGDD(XURSDGHDUPDV
GHIXHJRSXHGHGDWDUVH\VLWXDUVHHQ
D,QJODWHUUDHQHOVLJOR9,,,
E)UDQFLDHQHOVLJOR;9
F(VSDxDHQHOVLJOR;,9
(Q ODV DUPDV GH DYDQFDUJD OR SULPHUR TXH VH LQWURGXFtD SRU OD ERFD GHO
FDxyQHUD
D(OSUR\HFWLO
E(OWDFRXREWXUDGRU
F/DSyOYRUD
/RVWLSRVGHDUPDVGHDYDQFDUJDTXHKDQH[LVWLGRVHSXHGHQGLYLGLUHQ
D'HPHFKDGHFDUWXFKR\GHEDOD
E'HFDUWXFKR\GHEDOD
F'HPHFKDGHFKLVSD\GHSHUFXVLyQ
4XpVXVWDQFLDRHOHPHQWRIXHHOLQLFLRGHODVDUPDVGHIXHJRGHSHUFXVLyQ"
D(OIXOPLQDWRGHPHUFXULR
E/DSyOYRUDEODQFD
F/DSyOYRUDQHJUD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
8QDSLVWRODGHWRQDGRUDSHUWHQHFHDODFDWHJRUtD
D'HDUPDSURKLELGDDSDUWLFXODUHV
E'HDUPDWRWDOPHQWHSURKLELGD
F6pSWLPD
$XQTXH HQ OD DFWXDOLGDG VyOR VH IDEULFD SDUD FRQVXPR PDVLYR XQ WLSR
GH FDUWXFKR SRGHPRV GHFLU TXH VHJ~Q HO WLSR GH SHUFXVLyQ OD FDUWXFKHUtD VH
GLYLGHHQ
D&DUWXFKHUtDGHHVSLJDGHSHUFXVLyQDQXODU\GHSHUFXVLyQFHQWUDO
E&DUWXFKHUtDEOLQGDGD\VHPLEOLQGDGD
F&DUWXFKHUtDPHWiOLFD\VHPLPHWiOLFD
(QHOPHVGHPD\RSDVDUiQUHYLVWDGHDUPDV
D/RVYLJLODQWHVGHVHJXULGDGDQWHVXVSURSLRVMHIHV
E/RVPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtDDQWHODVDXWRULGDGHVGHTXHGHSHQGDQ
F/RVSRVHHGRUHVGH/LFHQFLD&DQWHOD,QWHUYHQFLyQGH$UPDV
&yPRVHGHQRPLQDWDPELpQDOVLVWHPDGHSHUFXVLyQXWLOL]DGRHQHOFDUWX
FKR/HIDXFKHX["
D6LVWHPDIUDQFpV
E3LQILUH
F(QFDSVXODGR
/DSDUWHGRQGHVHDORMDHOIXOPLQDQWHRLQLFLDGRUHQORVFDUWXFKRVDFWXDOHV
VHOODPD
D9DLQD
E3UR\HFWLO
F3LVWyQ
4XpSHULRGRGHYDOLGH]WLHQHOD7DUMHWDGHDUPDV$"
D,OLPLWDGR
E7UHVDxRV
F&LQFRDxRV
/RVVLVWHPDVEiVLFRVGHSHUFXVLyQFHQWUDOVRQ
D/HIDXFKHX[\)OREHUW
E&RQSLVWyQ\VLQSLVWyQ
F%HUGDQ\%R[HU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(ODUFRHVWiFDWDORJDGRFRPRDUPD
D'HSUR\HFFLyQ
E$UURMDGL]D
F'HPDQR
4XpWLSRGHSLVWyQOOHYDHO\XQTXHLQFRUSRUDGR"
D(OVLVWHPD%HUGDQ
E(OVLVWHPD%R[HU
F(OVLVWHPD)OREHUW
/DVEDOOHVWDV\ODQ]DFDERVDTXpFDWHJRUtDSHUWHQHFHQ"
D3ULPHUD
E6pSWLPD
F4XLQWD
/DVQDYDMDVDXWRPiWLFDVHVWiQHQFXDGUDGDVGHQWURGHODFDWHJRUtD
D3ULPHUD
E$UPDSURKLELGD
F4XLQWD
'HFXDQWRVRtGRVGLVSRQHODYDLQD%HUGDQ"
D'HQLQJXQR
E'HXQR
F'HGRV
/RVWLSRVGHSyOYRUDVHJ~QHOQ~PHURGHFRPSRQHQWHVVRQ
D1HJUD\%ODQFD
E'HJUHVLYDRSURJUHVLYD
F'HEDVHVLPSOHGREOHRWULSOH
4XpYLJHQFLDWLHQHXQDJXtDGHSHUWHQHQFLD"
D&LQFRDxRV
E7UHVDxRV
F/DGHODWLWXODULGDGGHVXSURSLHWDULR
&XiQWDVDUPDVDPSDUDODOLFHQFLD'"
D8QD
E7UHV
F&LQFR

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OHOHPHQWRTXHFRQGXFH\HVWDELOL]DHOSUR\HFWLOGHXQFDUWXFKRPHWiOLFR
GiQGROHHOJLURGHVDOLGDQHFHVDULRHQXQDUPDGHIXHJRGHiQLPDHVWULDGDHV
D(OGLVSDUDGRU
E(OFDxyQ
F(OHVWDELOL]DGRU
4XpHVHOFKRNHHQXQDHVFRSHWD"
D8QHVWUHFKDPLHQWRGHODERFDGHOFDxyQ
E8QWLSRGHFXODWD
F8QDUHFiPDUDGREOH
4XpWLSRGHGRFXPHQWRDPSDUDODWHQHQFLDGHXQDFDUDELQDGHDLUHFRP
SULPLGR"
D8QDJXtDGHSHUWHQHQFLD
E8QD/LFHQFLDGHDUPDV
F8QD7DUMHWDGH$UPDV
(OQ~PHURGHOLFHQFLDVGHWLSR%TXHSXHGHWHQHUXQSDUWLFXODUHVGH
D8QDSRUFDGDDUPDFRUWDTXHVHSRVHD
E8QD
F6HLVFRPRPi[LPR
(ODUPDSURYLVWDGHGHSyVLWRGHPXQLFLyQTXHVHUHFDUJDGHVSXpVGHFDGD
GLVSDURPDQXDOPHQWHSRUHOSURSLRWLUDGRUPHGLDQWHXQGLVSRVLWLYRTXHLQWURGXFH
HQHOFDxyQXQQXHYRFDUWXFKRHVWiFDWDORJDGDFRPR
D$UPDGHUHSHWLFLyQ
E$UPDVHPLDXWRPiWLFD
F$UPDGHJXHUUD
8QDUPDGHIXHJRFRPELQDGDFRQDUPDEODQFDSHUWHQHFHDODVLJXLHQWH
FDWHJRUtD
D3ULPHUD\4XLQWD
E4XLQWD
F(VXQDUPDSURKLELGD
4XpFDUDFWHUtVWLFDGHHQWUHODVVLJXLHQWHVOHFRUUHVSRQGHDXQDUPDVH
PLDXWRPiWLFD"
D(IHFW~DYDULRVGLVSDURVDODFFLRQDUHOGLVSDUDGRUXQDVRODYH]
E'HVSXpVGHFDGDGLVSDURHOWLUDGRULQWURGXFHRWURFDUWXFKRPHGLDQWHXQPHFDQLV
PRSRUpODFFLRQDGR
F'HVSXpVGHFDGDGLVSDURVHUHFDUJDDXWRPiWLFDPHQWHSHURSDUDHIHFWXDUXQRQXH
YRVHKDGHSXOVDUHOGLVSDUDGRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
,QGLTXHODUHVSXHVWDFRUUHFWDHQFXDQWRDORUGHQFURQROyJLFRHQTXHKDQ
LGRDSDUHFLHQGRGHPiVDQWLJXRDPiVDFWXDOORVGLVWLQWRVVLVWHPDVTXHILJXUDQ
HQODVUHVSXHVWDV
D3HUFXVLyQFHQWUDODQXODU\/HIDXFKHX[
E6LVWHPD/HIDXFKHX[GHSHUFXVLyQDQXODU\GHSHUFXVLyQFHQWUDO
F6LVWHPD/HIDXFKHX[SHUFXVLyQFHQWUDO\VLVWHPD)OREHUW
4XHVHWHQJDFRQRFLPLHQWRGRFXPHQWDOORVSULPHURVTXHXWLOL]DURQDUPDV
GHIXHJRSRUWiWLOHVIXHURQ
D/RVDOHPDQHV
E/RVJHQRYHVHV\YHQHFLDQRV
F/RVFDWDODQHV\FDVWHOODQRV
/DVDUPDVGHIXHJRSRUWiWLOHVLQLFLDOHVHUDQGHDQWHFDUJDRDYDQFDUJDLQ
WURGXFLHQGRSRUODERFDGHOFDxyQWRGRVORVHOHPHQWRVSDUDSURGXFLUHOGLVSDURHO
FXDOVHHIHFWXDED
D8WLOL]DQGRXQKLHUURFDQGHQWHTXHVHDFHUFDEDDXQRULILFLRGHOFDxyQ
E3RUPHGLRGHXQDPHFKDTXHOOHJDEDKDVWDODSyOYRUDLQFHQGLiQGROD
F3HUFXWLHQGRXQGLVSRVLWLYRLQLFLDGRU
5HVSHFWRDODVJXtDVGHSHUWHQHQFLDXQDUHVSXHVWDHVFLHUWD
D$FRPSDxDUiQDODUPDHQVXXVRGHSyVLWR\WUDQVSRUWH
E7RGDVODVDUPDVQHFHVLWDQVXSURSLDJXtD
F3DUDORVIXQFLRQDULRVSROLFLDOHVODJXtDGHSHUWHQHQFLDVHUiHOSURSLRFDUQpSROLFLDO
/DFRQGLFLyQTXHVHH[LJHSDUDTXHXQPHQRUGHHGDGSXHGDXVDUXQDUPDHV
D4XHHQODFRPSHWLFLyQRHQODFD]DYD\DDFRPSDxDGRGHVXVSDGUHV
E4XHHQODFRPSHWLFLyQRHQODFD]DYD\DDFRPSDxDGRGHXQDSHUVRQDPD\RUGH
HGDG
F4XHHQODFRPSHWLFLyQRHQODFD]DYD\DDFRPSDxDGRGHXQDSHUVRQDPD\RUFRQOD
/LFHQFLDDGHFXDGDDOFDVR
/DIHFKDOtPLWHGHIDEULFDFLyQSDUDFRQVLGHUDUDXQDUPDGHQWURGHODVH[WD
FDWHJRUtDFRPRDUPDDQWLJXDRKLVWyULFDHV
DGHGLFLHPEUHGH
EGHHQHURGH
FGHGLFLHPEUHGH

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(OFDUWXFKRGHSyOYRUDFRPRHOHPHQWRXQLWDULRTXHVHLQWURGXFtDHQSULQFL
SLRSRUODERFDGHOFDxyQDSDUHFHSRUSULPHUDYH]DSUR[LPDGDPHQWHHQ
D
E
F
(OFDUWXFKRDQWHFHGHQWHLQPHGLDWRGHORVDFWXDOHVIXHLQYHQWDGRSRU
D&DVLPLU/HIDXFKHX[
E-RKDQQ1LNRODXV'UH\VH
F$QWRLQH&KDVVHSRW
/RPiVFDUDFWHUtVWLFRGHOFDUWXFKR/HIDXFKHX[HV
E4XHHOFDUWXFKRHVFRPSOHWDPHQWHGHFDUWyQ
F/DHVSLJD
6HJ~QHO5HJODPHQWRGH$UPDVXQDUPDGHIXHJRODUJDHV
D/DTXHWHQJDXQFDxyQTXHH[FHGDGHFHQWtPHWURV
E/DTXHQRHVWpFDWDORJDGDFRPRFRUWD
F/DTXHVHDDXWRPiWLFDRVHPLDXWRPiWLFD
(OQ~PHURGHDUPDVFRUWDVTXHSRGUiSRVHHUXQIXQFLRQDULRGHO&XHUSR1D
FLRQDOGH3ROLFtDFRQOD/LFHQFLDGHWLSR$HVGH
D&LQFR
E7UHV
F'HSHQGHGHOD(VFDODDODTXHSHUWHQH]FD
/DViQLPDVGHORVFDxRQHVGHHVFRSHWDVVRQ
D7RGDVOLVDV
E7RGDVHVWULDGDV
F/LVDVRHVWULDGDV
8QDOLFHQFLDWLSR%SDUDDUPDGHIXHJRFRUWD
D$PSDUDKDVWDWUHVDUPDV
E6HUHQXHYDDXWRPiWLFDPHQWHFDGDWUHVDxRV
F6HFRQFHGHSRUSDUWHGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
(OSHUVRQDOHQDFWLYRGHORVFXHUSRVGH3ROLFtD/RFDOGRFXPHQWDUiODVDUPDV
GHODVFDWHJRUtDV\FRQ/LFHQFLDGHOWLSR
D$
E%
F&
32/,&$1$&,21$/(6&$/$%6,&$

7(671
8QDFDUDELQDGHDLUHFRPSULPLGRTXHGLVSDUDSUR\HFWLOHVFX\DHQHUJtDHQOD
ERFDGHIXHJRH[FHGHGHMXOLRVHQTXpFDWHJRUtDGHO5HJODPHQWRGH$UPDV
HVWiFODVLILFDGD"
D(QOD
E(QOD
F(QOD
/DDXWRUL]DFLyQHVSHFLDOSDUDHOXVRGHDUPDVDQWLJXDVGHDYDQFDUJD\VLV
WHPD)OREHUWVHUiFRQFHGLGDSRU
D/RV-HIHVGH=RQDSRUGHOHJDFLyQ
E(O'LUHFWRU*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
F/RV'HOHJDGRVR6XEGHOHJDGRVGHO*RELHUQR
3RUODVYtDV\OXJDUHVS~EOLFRVXUEDQRVODVDUPDVVHOOHYDUiQ
D7DSDGDVSDUDTXHQRVHYHDQ
E'HVPRQWDGDVRGHQWURGHVXVFDMDVRIXQGDV
F'HFXDOTXLHUIRUPDSHURFRQVXVJXtDVGHSHUWHQHQFLD
4XpDUPDVSXHGHDPSDUDUFRPRPi[LPRODOLFHQFLD)"
D+DVWDWUHVDUPDV
E+DVWDGLH]DUPDVGHODVGHQRPLQDGDVGHFRQFXUVRGHWLURGHSRUWLYR
F+DVWDVHLVDUPDV
8QULIOHVHPLDXWRPiWLFRFX\RFDUJDGRUDGPLWHVHLVFDUWXFKRVHVXQDUPD
SURKLELGDDSDUWLFXODUHV"
D1R
E6tVLVHXWLOL]DSDUDFD]DU
F6tSXHVVXFDSDFLGDGGHFDUJDVXSHUDORVFLQFRFDUWXFKRV
7RGDVODVDUPDVGHFRQFXUVRSDVDUiQUHYLVWD
D&DGDWUHVDxRV
E&DGDFLQFRDxRV
F(QHOPHVGHDEULO
&XiOHVVRQODVSLH]DVIXQGDPHQWDOHVGHXQULIOH"
D&HUURMR\FDxyQ
E%iVFXOD\FDxyQ
F&HUURMRFDxyQ\FXODWD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
&RQFXiQWDDQWHODFLyQDODIHFKDGHFHOHEUDFLyQGHORVFRQFXUVRVGHSRU
WLYRV GHEHUiQ VROLFLWDU ORV RUJDQL]DGRUHV ODV DXWRUL]DFLRQHV HVSHFLDOHV SDUD ORV
SDUWLFLSDQWHVTXHQRWLHQHQVXUHVLGHQFLDHQXQSDtVGHOD8QLyQ(XURSHD"
D&RQGLH]GtDVGHDQWHODFLyQ
E&RQTXLQFHGtDVGHDQWHODFLyQ
F&RQWUHLQWDGtDVGHDQWHODFLyQ
3DUDXVDUGHWHUPLQDGDVDUPDVQRVHQHFHVLWDOLFHQFLDSHURVtXQDDXWRUL
]DFLyQHVSHFLDO,QGLTXHDTXpFDWHJRUtDVSHUWHQHFHQGLFKDVDUPDV
D&DWHJRUtD
E&DWHJRUtDV\
F&DWHJRUtDV
/DFHVLyQWHPSRUDOGHDUPDVSDUDFD]DUWHQGUiXQDGXUDFLyQGH
DGtDVFRPRPi[LPR
EGtDVFRPRPi[LPR
FGtDVFRPRPi[LPR
/DVJXtDVGHSHUWHQHQFLDGHDUPDVGHORVSRVHHGRUHVGH/LFHQFLD&VRQ
H[SHGLGDVDQRPEUHGH
D/RVWLWXODUHVGHGLFKDVOLFHQFLDV
E/DVHPSUHVDVSDUDODVTXHWUDEDMDQ
F/RVWLWXODUHVGHGLFKDVOLFHQFLDVTXHVHHQFXHQWUHQHQVHUYLFLRDFWLYR
4XpSHULRGRGHYDOLGH]WHQGUiODOLFHQFLDGHDUPDODUJDTXHVHOHSXHGH
FRQFHGHUDOSHUVRQDOGHO&XHUSR1DFLRQDOGH3ROLFtDHQODVVLWXDFLRQHVGHVHUYLFLRV
HVSHFLDOHVH[FHGHQFLDIRU]RVDRGHVHJXQGDDFWLYLGDG"
D7HQGUiWUHVDxRVGHYDOLGH]
E7HQGUiFLQFRDxRVGHYDOLGH]
F'XUDQWHHOVHUYLFLRDFWLYRRGLVSRQLEOH
/DYDLQDGHOVLVWHPD%HUGDQWLHQH
D8QRtGR
E'REOHFXORWH
F'RVRtGRV
4XpDUPDVDPSDUDODDXWRUL]DFLyQHVSHFLDOSDUDGHGLFDUVHWUDQVLWRULDPHQ
WHDODSUiFWLFDGHODFD]DTXHVHH[SLGHDORVUHVLGHQWHVHQHOH[WUDQMHUR"
D8QDUPDGHODVFDWHJRUtDV\
E8QQ~PHURLOLPLWDGRGHODFDWHJRUtD
F+DVWDWUHVDUPDVGHODVFDWHJRUtDV\
32/,&$1$&,21$/(6&$/$%6,&$

7(671
6HUiFDXVDGHDQXODFLyQ\UHWLUDGDGHODJXtDGHSHUWHQHQFLDHOKHFKRGH
D1RSDVDUXQDUHYLVWD
E1RSDVDUGRVUHYLVWDVDOWHUQDV
F1RSDVDUGRVUHYLVWDVFRQVHFXWLYDV
/DFODVLILFDFLyQGHXQDUPDGHQWURGHXQDFDWHJRUtDVHGHWHUPLQDVREUHOD
EDVHGH
D6XVFDUDFWHUtVWLFDV\JUDGRGHSHOLJURVLGDG
E6XGHVWLQRRXWLOL]DFLyQ
(VFRQVLGHUDGDODFXODWDGHXQULIOHSRUHO5HJODPHQWRGH$UPDVFRPR
SLH]DIXQGDPHQWDOGHODUPD"
D6t
E1R
F6yORVLHVGHVPRQWDEOH
/DV,QWHUYHQFLRQHVGH$UPDVSRGUiQH[SHGLUDORVVROLFLWDQWHVGHUHQRYD
FLRQHVGHOLFHQFLDVGHDUPDVSUy[LPDVDFDGXFDUDXWRUL]DFLRQHVWHPSRUDOHVFRQ
XQSOD]RGHYDOLGH]GH
D8QPHV
E'RVPHVHV
F7UHVPHVHV
/RVWLWXODUHVGHJXtDVGHSHUWHQHQFLDTXHSRVHDQOLFHQFLDTXHQRVHD$QL
&SDVDUiQUHYLVWD
D&DGDWUHVDxRV
E&DGDFLQFRDxRV
F'HQWURGHOPHVFRUUHVSRQGLHQWHDODUHQRYDFLyQGHODOLFHQFLD
(QTXpFDWHJRUtDGHO5HJODPHQWRGH$UPDVHVWiFODVLILFDGDXQDHVFRSHWD
GHFD]DFRQFDxyQHVWULDGRDGDSWDEOHFRQUHFiPDUDSDUDFDUWXFKRVPHWiOLFRV"
D(QODFDWHJRUtD
E(QODFDWHJRUtD
F(VXQDUPDSURKLELGD
3XHGHFXDOTXLHUSHUVRQDFRQOLFHQFLDGHDUPDVWHQHU\XWLOL]DUDUPDVGH
IXHJRODUJDVGHFDxRQHVUHFRUWDGRV"
D1RQDGLHSXHGHXWLOL]DUHVWHWLSRGHDUPDV
E6tVLGLVSRQHGHDXWRUL]DFLyQ
F1RVyORHVWiSHUPLWLGRDIXQFLRQDULRVHVSHFLDOPHQWHKDELOLWDGRV

32/,&$1$&,21$/(6&$/$%6,&$
7(671
(QFDVRGHIDOOHFLPLHQWRGHOWLWXODUORVKHUHGHURVGHEHUiQGHSRVLWDUODVDUPDV
D7DQSURQWRFRPRWHQJDQFRQRFLPLHQWRGHODREOLJDFLyQGHKDFHUOR
E(QFXDOTXLHUFDVRGHQWURGHORVVHLVPHVHVVLJXLHQWHVDOIDOOHFLPLHQWR
4XpSHULRGRGHYDOLGH]WLHQHODDXWRUL]DFLyQHVSHFLDOSDUDHVFROWDVGHSHU
VRQDOLGDGHVH[WUDQMHUDV"
D7UHVPHVHV
E(OWLHPSRTXHGXUHODYLVLWD
F8QDxR
/D/LFHQFLD$(
D(VXQDPH]FODHQWUHODV/LFHQFLDV$$\DXWRUL]DDUPDVGHODFDWHJRUtDSDUD
IXQFLRQDULRVSROLFLDOHV\PLOLWDUHV
E(VHQUHDOLGDGXQDDXWRUL]DFLyQHVSHFLDOSDUDODWHQHQFLD\XVRGHDUPDVKLVWyULFDV
$OREHUW
F (V XQD /LFHQFLD H[WUDRUGLQDULD FRQFHGLGD D GHWHUPLQDGRV IXQFLRQDULRV SROLFLDOHV \
PLOLWDUHV
8QPHQRUGHHGDGPD\RUGHDxRVSXHGHSRVHHUOLFHQFLDGHFD]DPHQRU
D6LYDDFRPSDxDGRGHXQPD\RUGHHGDGFRQHVWHWLSRGHOLFHQFLD
E6LYDDFRPSDxDGRGHVXVSDGUHVHQFXDOTXLHUFDVR
F1LQJXQDGHODVUHVSXHVWDVHVFRUUHFWD
4XLpQFRQFHGHXQD/LFHQFLDGHWLSR&"
D/RV-HIHVGHODV&RPDQGDQFLDVGHOD*XDUGLD&LYLO
E(O6XEGHOHJDGRGHO*RELHUQRHQOD3URYLQFLD
'HODVTXHVHVHxDODQDFRQWLQXDFLyQFXiOHVVHFRQVLGHUDQDUPDVSUR
KLELGDV"
D/RVSXxDOHV
E/DVDUPDVGHIXHJRFRQVLOHQFLDGRU
8QDUPDODUJDGHFD]DPD\RUFRQFXODWDSOHJDEOHSDUDIDFLOLWDUHOGHVSOD
]DPLHQWRGHOFD]DGRUSRUWHUUHQRVPX\IURQGRVRVGHWDOPDQHUDTXHSOHJDGDOD
FXODWDHODUPDPLGHPHQRVGHFPGHODUJRHVXQDUPD
D3URKLELGD
E&RUWD
F/DUJD
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(QXQULIOHODSLH]DIXQGDPHQWDOTXHDUUDVWUDHOFDUWXFKRKDFLDODUHFiPDUDHV
D8QDXxDH[WUDFWRUD
E(OPHFDQLVPRGHGLVSDUR
F(OFHUURMR
(QTXpFRQVLVWHHOFKRNHGHXQDHVFRSHWD"
D(QODUHGXFFLyQGHODUHFiPDUD
E(QHOHVWUDQJXODPLHQWRGHODERFDGHOFDxyQ
F(QHOHVWULDGRH[LVWHQWHHQODERFDGHIXHJR
&yPRVHGHQRPLQDHOH[WUHPRGHOFDxyQGHXQDHVFRSHWDRSXHVWRDOD
SDUWHSRUODTXHVDOHQDOH[WHULRUORVSUR\HFWLOHV"
D%RFD
E&iPDUD
F5HFiPDUD
(QXQDUPDVHPLDXWRPiWLFDODH[SXOVLyQGHODYDLQDSHUFXWLGD\ODHQWUDGD
GHXQQXHYRFDUWXFKRHQODUHFiPDUDVHSURGXFH
D$SURYHFKDQGRODIXHU]DGHUHWURFHVRSDUDGHVSOD]DUHOFLHUUH
E'HIRUPDPDQXDOSRUHOWLUDGRU
F&RPRFRQVHFXHQFLDGHXQPHFDQLVPRDQH[RDOFLHUUHTXHVHDFFLRQDPDQXDOPHQWH
SRUHOWLUDGRU
/DEiVFXODGHXQDUPDGHIXHJRHVFRQVLGHUDGDSRUHO5HJODPHQWRGH$U
PDVFRPRSLH]DIXQGDPHQWDO
D'HXQDHVFRSHWDH[FOXVLYDPHQWH
E'HWRGDVODVDUPDVGHIXHJRODUJDV
F(QQLQJ~QFDVR
(QTXpFDVRVORVHOHPHQWRVGHSXQWHUtDGHXQDUPDGHIXHJRVRQFRQVL
GHUDGRVFRPRSLH]DVIXQGDPHQWDOHVGHXQDUPD"
D(QHOFDVRGHULIOHV\HVFRSHWDV
E(QHOFDVRGHDUPDVGHIXHJRFRUWDV
F(QQLQJ~QFDVR
8QUHYyOYHUFRQFDxyQGHFHQWtPHWURV\XQDORQJLWXGWRWDOGHFHQWt
PHWURVWHQGUiODFRQVLGHUDFLyQGH
D$UPDGHIXHJRFRUWD
E$UPDGHIXHJRODUJD
F$UPDSURKLELGD

32/,&$1$&,21$/(6&$/$%6,&$
7(671
6LDXQDHVFRSHWDGHFD]DVHOHDGDSWDXQFDxyQHVWULDGRFRQUHFiPDUD
SDUDFDUWXFKRVPHWiOLFRVHQTXpDUPDVHFRQYLHUWH"
D(QXQULIOH
E(QXQDUPDGHODFDWHJRUtD
F(QXQDUPDSURKLELGD
6HxDOHXQWLSRGHDUPDTXHSHUWHQHFHDORTXHVHFRQVLGHUDUHWURFDUJD
D6LVWHPDGHYDULOODRHVSLJD
E6LVWHPDGHPHFKD
F6LVWHPDGHFKLVSD
/DDGTXLVLFLyQWHQHQFLD\XVRGHODVDO]DVRPLUDVWHOHVFySLFDVRDUWLILFLRV
DGDSWDEOHV D ODV DUPDV GH FD]D PD\RU SDUD DXPHQWDU VX HILFDFLD VRODPHQWH VH
SHUPLWLUiQD
D3HUVRQDVTXHDFUHGLWHQSRVHHU/LFHQFLD'
E3HUVRQDVTXHDFUHGLWHQSRVHHU/LFHQFLD&
F3HUVRQDVTXHDFUHGLWHQSRVHHU/LFHQFLD%
4XpSHULRGRGHYDOLGH]WLHQHOD/LFHQFLDGHDUPDV$SDUDXQIXQFLRQDULR
HQVHJXQGDDFWLYLGDGVLQGHVWLQR"
D7UHVDxRV
E&LQFRDxRV
F'XUDQWHHOVHUYLFLRDFWLYRRGLVSRQLEOH
4XpDUPDVDPSDUDOD/LFHQFLD&"
D7RGDVODVDUPDVGHODVFDWHJRUtDV\\DUPDVGHJXHUUD
E$UPDVGHODVFDWHJRUtDV\
F$UPDVGHODVFDWHJRUtDV\GHWHUPLQDGDVDUPDVGHJXHUUD
4XpSHULRGRGHYDOLGH]WLHQHODDXWRUL]DFLyQHVSHFLDOSDUDSDUWLFLSDUHQXQ
FRQFXUVRGHWLURTXHVHH[SLGDDORVUHVLGHQWHVHQHOH[WUDQMHUR"
D7UHVPHVHV
E4XLQFHGtDV
F(OWLHPSRTXHGXUHODFRPSHWLFLyQ
8QWLSRGHFDUWXFKRFX\RLQLFLDGRUVHHQFXHQWUDHQHOUHERUGHGHVXFXORWH
\TXHHQSULQFLSLRQRWHQtDFDUJDGHSUR\HFFLyQHV
D(OGHQRPLQDGRFRPR3LQILUH
E(OGHOVLVWHPD)OREHUW
F(OVLVWHPDGHSHUFXVLyQFHQWUDO
32/,&$1$&,21$/(6&$/$%6,&$

7(671
(OSUR\HFWLOXWLOL]DGRHQODVDUPDVGHDYDQFDUJDRDQWHFDUJDVHGHQRPLQD
D%RGRTXH
E&DUWXFKR
F$JXMD
/DVDUPDVGHiQLPDHVWULDGDHVWiQGLVHxDGDVSDUDFDUWXFKRV
D'HPXQLFLyQ~QLFD
E/HIDXFKHX[
F'HPXQLFLyQP~OWLSOH
6LHO\XQTXHYDLQFOXLGRHQODFiSVXODLQLFLDGRUDHVWDPRVKDEODQGRGHXQ
FDUWXFKRGHWLSR
D)OREHUW
E%HUGDQ
F'HSHUFXVLyQFHQWUDO
$PHGLGDTXHVHLQFUHPHQWDODFDUJDGHSUR\HFFLyQHOFDUWXFKRVHFRQV
WUX\H
D&RQXQDYDLQDPiVHVWUHFKD
E&RQXQFXORWHPiVJUXHVR
F&RQVLVWHPD%R[HUHQOXJDUGHO%HUGDQ

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWQ
F$OD7HUFHUD&DWHJRUtD
E9DLQDSLVWyQFDUJDGHSUR\HFFLyQ\EDOD
E6HPLDXWRPiWLFD
F/DH[SDQVLyQGHORVJDVHVDOGHIODJUDUODSyOYRUD
E/DFRPSUHVLyQGHXQJDV\VXSRVWHULRUH[SDQVLyQ
E $GRSWDU FXDQWDV PHGLGDV UHVXOWHQ QHFHVDULDV SDUD HYLWDU VX SpUGLGD URER R
VXVWUDFFLyQ
D'HPHFKDGHFKLVSD\GHSLVWyQ
F&DUJD
D6HPLPHWiOLFR
EPP
D'H\XQTXH
F/RVGRVVRQHVHQFLDOHVSDUDVXIXQFLRQDPLHQWR
D)XVLOGHSHVFDVXEPDULQD
F'LVSDUDQWRGRVORVFDUWXFKRVDOPDFHQDGRVHQHOFDUJDGRUVLSUHYLDPHQWHVHYDQ
LQWURGXFLHQGRHQODUHFiPDUDSRUPHGLRGHXQGLVSRVLWLYRPHFiQLFR
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E3HUWHQHFLHQWHDODFXDUWDFDWHJRUtD
F3RUSUHVLyQGHXQDYDULOOD
F)OREHUW
E(QHOUHERUGHGHODYDLQD
F3HUFXVLyQFHQWUDO
D/DFXDUWD
D6HJXQGD
F'HFLQFRDxRVUHQRYDEOHV
F/RVIXVLOHVGHLQ\HFFLyQDQHVWpVLFD
EQLPDOLVDFDUWXFKRVHPLPHWiOLFR
D%HUGDQ
E3LVWyQ
D&DUWXFKRPHWiOLFR
F/DVSLH]DVGHDUWLOOHUtD
E8QD/LFHQFLDGHOWLSR'SDUDODVGRVDUPDV
E6HLVGHFD]DRVHLVGHWLSRGHSRUWLYRDGHPiVGHRWUDVDXWRUL]DGDVKDVWDXQ
WRWDOGHGRFH
D(O$OFDOGH
F'HJXHUUD
E7LSR(
F(VSDxDHQHOVLJOR;,9
F/DSyOYRUD
F'HPHFKDGHFKLVSD\GHSHUFXVLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(671
F6pSWLPD
D&DUWXFKHUtDGHHVSLJDGHSHUFXVLyQDQXODU\GHSHUFXVLyQFHQWUDO
F/RVSRVHHGRUHVGH/LFHQFLD&DQWHOD,QWHUYHQFLyQGH$UPDV
E3LQILUH
F3LVWyQ
F&LQFRDxRV
F%HUGDQ\%R[HU
D'HSUR\HFFLyQ
E(OVLVWHPD%R[HU
E6pSWLPD
E$UPDSURKLELGD
F'HGRV
F'HEDVHVLPSOHGREOHRWULSOH
F/DGHODWLWXODULGDGGHVXSURSLHWDULR
F&LQFR
E(OFDxyQ
D8QHVWUHFKDPLHQWRGHODERFDGHOFDxyQ
F8QD7DUMHWDGH$UPDV
E8QD
D$UPDGHUHSHWLFLyQ
F(VXQDUPDSURKLELGD
F'HVSXpVGHFDGDGLVSDURVHUHFDUJDDXWRPiWLFDPHQWHSHURSDUDHIHFWXDUXQR
QXHYRVHKDGHSXOVDUHOGLVSDUDGRU
32/,&$1$&,21$/(6&$/$%6,&$

7(671
E6LVWHPD/HIDXFKHX[GHSHUFXVLyQDQXODU\GHSHUFXVLyQFHQWUDO
E/RVJHQRYHVHV\YHQHFLDQRV
D8WLOL]DQGRXQKLHUURFDQGHQWHTXHVHDFHUFDEDDXQRULILFLRGHOFDxyQ
D$FRPSDxDUiQDODUPDHQVXXVRGHSyVLWR\WUDQVSRUWH
F4XHHQODFRPSHWLFLyQRHQODFD]DYD\DDFRPSDxDGRGHXQDSHUVRQDPD\RUFRQ
OD/LFHQFLDDGHFXDGDDOFDVR
EGHHQHURGH
D
D&DVLPLU/HIDXFKHX[
F/DHVSLJD
E/DTXHQRHVWpFDWDORJDGDFRPRFRUWD
F'HSHQGHGHOD(VFDODDODTXHSHUWHQH]FD
F/LVDVRHVWULDGDV
F6HFRQFHGHSRUSDUWHGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
D$
D(QOD
F/RV'HOHJDGRVR6XEGHOHJDGRVGHO*RELHUQR
E'HVPRQWDGDVRGHQWURGHVXVFDMDVRIXQGDV
E+DVWDGLH]DUPDVGHODVGHQRPLQDGDVGHFRQFXUVRGHWLURGHSRUWLYR
F6tSXHVVXFDSDFLGDGGHFDUJDVXSHUDORVFLQFRFDUWXFKRV
D&DGDWUHVDxRV
D&HUURMR\FDxyQ
E&RQTXLQFHGtDVGHDQWHODFLyQ
E&DWHJRUtDV\

32/,&$1$&,21$/(6&$/$%6,&$
7(671
DGtDVFRPRPi[LPR
E/DVHPSUHVDVSDUDODVTXHWUDEDMDQ
E7HQGUiFLQFRDxRVGHYDOLGH]
F'RVRtGRV
F+DVWDWUHVDUPDVGHODVFDWHJRUtDV\
F1RSDVDUGRVUHYLVWDVFRQVHFXWLYDV
E1R
F7UHVPHVHV
F'HQWURGHOPHVFRUUHVSRQGLHQWHDODUHQRYDFLyQGHODOLFHQFLD
E(QODFDWHJRUtD
F1RVyORHVWiSHUPLWLGRDIXQFLRQDULRVHVSHFLDOPHQWHKDELOLWDGRV
F/DVUHVSXHVWDVGRVUHVSXHVWDVVRQFRUUHFWDV
E(OWLHPSRTXHGXUHODYLVLWD
E(VHQUHDOLGDGXQDDXWRUL]DFLyQHVSHFLDOSDUDODWHQHQFLD\XVRGHDUPDVKLV
WyULFDV\)OREHUW
F1LQJXQDGHODVUHVSXHVWDVHVFRUUHFWD
D3URKLELGD
F(OFHUURMR
E(QHOHVWUDQJXODPLHQWRGHODERFDGHOFDxyQ
F5HFiPDUD
D$SURYHFKDQGRODIXHU]DGHUHWURFHVRSDUDGHVSOD]DUHOFLHUUH
32/,&$1$&,21$/(6&$/$%6,&$

7(671
D'HXQDHVFRSHWDH[FOXVLYDPHQWH
F(QQLQJ~QFDVR
E$UPDGHIXHJRODUJD
E(QXQDUPDGHODFDWHJRUtD
D6LVWHPDGHYDULOODRHVSLJD
D3HUVRQDVTXHDFUHGLWHQSRVHHU/LFHQFLD'
D7UHVDxRV
F$UPDVGHODVFDWHJRUtDV\GHWHUPLQDGDVDUPDVGHJXHUUD
F(OWLHPSRTXHGXUHODFRPSHWLFLyQ
E(OGHOVLVWHPD)OREHUW
D%RGRTXH
D'HPXQLFLyQ~QLFD
F'HSHUFXVLyQFHQWUDO
E&RQXQFXORWHPiVJUXHVR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(,
6,08/$&52'((;$0(1&2135(*817$66,0,/$5(6$/$6'(/(;$0(1
2),&,$/'(/$&2192&$725,$&(/(%5$'2&21)(&+$'(
129,(0%5('(35,0(5$3$57(&,(1&,$6-85',&$6
4XLpQHVVRQHVSDxROHVSRULXVVROL"
D6LHPSUHORVRQORVQDFLGRVHQ(VSDxDGHSDGUHVH[WUDQMHURV
F/RVQDFLGRVHQXQD(PEDMDGDGH(VSDxDHQHOH[WUDQMHUR
4XpDFWRGHWHUPLQDODSHUVRQDOLGDG"
D/DFDSDFLGDGMXUtGLFDRGHJRFH
E(OQDFLPLHQWR
F/DFDSDFLGDGGHREUDURGHHMHUFLFLR
/DVGLVSRVLFLRQHVGHO*RELHUQRTXHFRQWLHQHQOHJLVODFLyQGHOHJDGDUHFLEHQ
HOWtWXORGH
E'HFUHWRVOH\HV
F/H\HVRUGLQDULDV
4XpSUHYDOHQFLDGHGRPLFLOLRWLHQHQODVSHUVRQDVMXUtGLFDV"
E'RQGHGLVSRQJDQVXVHVWDWXWRVRUHJODVGHIXQGDFLyQ
F(OOXJDUHQTXHVHKDOOHHVWDEOHFLGDVXUHSUHVHQWDFLyQOHJDORGRQGHHMHU]DQODVSULQ
FLSDOHVIXQFLRQHVGHVXLQVWLWXWR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(35,0(5$
&yPRVHGHQRPLQDDO'HUHFKRTXHULJHHQXQPRPHQWRKLVWyULFRGHWHUPL
QDGR"
D'HUHFKRQDWXUDO
E'HUHFKRSRVLWLYR
F'HUHFKRJHQHUDO
(O'HFUHWRGHFRQFHVLyQGHODQDFLRQDOLGDGHVSDxRODSRUFDUWDGHQDWXUDOH]D
VLHOSHWLFLRQDULRQRFXPSOHFRQODSUHVHQWDFLyQ\UHTXLVLWRVH[LJLGRVDQWHIXQFLR
QDULRFRPSHWHQWHFDGXFDDORV
DGtDV
EGtDV
FGtDV
&XiQGRVHFRQFHGHODQDFLRQDOLGDGHVSDxRODSRUFDUWDGHQDWXUDOH]D"
E3HUWHQHFHFRQFHGHUODDO5H\HQEDVHDVXGHUHFKRFRQVWLWXFLRQDOGHJUDFLD
F7LHQHTXHGDUVXFRQVHQWLPLHQWRHO0LQLVWHULRGHO,QWHULRU
(OFLXGDGDQRHVSDxROTXHKD\DSHUGLGRVXQDFLRQDOLGDGFyPRSXHGHUHFX
SHUDUOD"
D5HVLGLHQGROHJDOPHQWHHQ(VSDxDGHFODUDQGRDQWHHO(QFDUJDGRGHO5HJLVWUR&LYLOVX
YROXQWDGGHUHFXSHUDUODHLQVFULELHQGRODUHFXSHUDFLyQHQHO5HJLVWUR&LYLO
E,QIRUPDQGRHOGHVHRH[SUHVRGHUHFXSHUDUOD
F'HFODUDQGRDQWHHO(QFDUJDGRGHO5HJLVWUR&LYLOVXYROXQWDGGHUHFXSHUDUOD
6HJ~QHODUWtFXORGHO&yGLJRFLYLO
D/DVOH\HVVyORVHGHURJDQSRURWUDVSRVWHULRUHV
E/DVOH\HVVyORVHGHURJDQSRURWUDVGHPHQRUUDQJR
F3RURWUDVSRVWHULRUHV\GHPD\RUUDQJR
$ORVFXiQWRVGtDVGHVXFRPSOHWDSXEOLFDFLyQHQHO%ROHWtQ2ILFLDOGHO(V
WDGRHQWUDUiQHQYLJRUODVOH\HVGHQRGLVSRQHUVHRWUDFRVDHQODVPLVPDV"
D$OGtDVLJXLHQWH
E$ORVYHLQWHGtDV
F$ORVTXLQFHGtDV
4XpFODVHGH'HUHFKRWLHQHFRPRFDUDFWHUtVWLFDVHUXQLYHUVDO"
D(O'HUHFKRSULYDGR
E(O'HUHFKRQDWXUDO
F(O'HUHFKRODERUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(35,0(5$
&XiO HV HO RUGHQ FRUUHFWR GH ODV VLJXLHQWHV QRUPDV GH PD\RU D PHQRU
UDQJR"
DUGHQHVGHODV&RPLVLRQHV'HOHJDGDVGHO*RELHUQRUGHQHV0LQLVWHULDOHV\'LVSR
VLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHV
EUGHQHV0LQLVWHULDOHV'LVSRVLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHV\UGHQHV
GHODV&RPLVLRQHV'HOHJDGDVGHO*RELHUQR
F'LVSRVLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHVUGHQHVGHODV&RPLVLRQHV'HOH
JDGDVGHO*RELHUQR\UGHQHV0LQLVWHULDOHV
(QHOFDVRGHWHQHUTXHVRPHWHUDMXLFLRDO'HIHQVRUGHO3XHEORGyQGHVH
OOHYDUtDDFDER"
E(QOD6DOD3ULPHUDGHO7ULEXQDO6XSUHPR
(O'HIHQVRUGHO3XHEORFXDQGRUHFLEHXQDTXHMDFLXGDGDQDSRUPDOIXQFLR
QDPLHQWRGHOD$GPLQLVWUDFLyQGH-XVWLFLDDTXLpQGHEHGDUFXHQWD"
D$O0LQLVWHULR)LVFDO
E$O&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
/D&RQVWLWXFLyQ(VSDxRODQRJDUDQWL]D
D/DSXEOLFLGDGGHODVQRUPDV
F/DUHVSRQVDELOLGDG\ODLQWHUGLFFLyQGHODDUELWUDULHGDGGHORVSRGHUHVS~EOLFRV
'yQGH VH KDFH UHIHUHQFLD D ORV 'HUHFKRV +XPDQRV HQ OD &RQVWLWXFLyQ
(VSDxROD"
E(QOD6HFFLyQ3ULPHUDGHO&DStWXOR6HJXQGRGHO7tWXOR3ULPHUR'HORVGHUHFKRV
IXQGDPHQWDOHV\GHODVOLEHUWDGHVS~EOLFDV
F(QOD6HFFLyQ6HJXQGDGHO&DStWXOR6HJXQGRGHO7tWXOR3ULPHUR'HORV'HUHFKRV\
6HSXHGHPRGLILFDUOD&RQVWLWXFLyQ(VSDxROD"
D7HQGUtDTXHSHGLUORHO*RELHUQRSRUXQDQLPLGDGHQODV&iPDUDV
E6tSHURXQDYH]DSUREDGDODUHIRUPDSRUODV&RUWHV*HQHUDOHVFRQWRGRVORVUH
TXLVLWRV TXH VH H[LJHQ HQ OD SURSLD &RQVWLWXFLyQ OD WHQGUtDQ TXH VRPHWHU VL SURFHGH D
F(VLPSRVLEOHSRUVHUXQD&RQVWLWXFLyQPX\UtJLGD
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(35,0(5$
0HGLDQWHTXpWLSRGHQRUPDVHUHVROYHUiHQVXFDVRODVGXGDVGHKHFKR
RGHGHUHFKRVREUHOD5HJHQFLDODVDEGLFDFLRQHV\ODVUHQXQFLDVHQORUHODWLYRDOD
&RURQD(VSDxROD"
D/H\RUGLQDULD
E/H\RUJiQLFD
F5HDOGHFUHWR
8QDYH]SUHVHQWDGDXQDPRFLyQGHFHQVXUDFXiOHVHOSOD]RSDUDVXYRWDFLyQ"
D&LQFRGtDV
E7UHVGtDV
F&XDWURGtDV
&yPRVHHOLJHDO3UHVLGHQWHGHO7ULEXQDOGH-XVWLFLD(XURSHR"
D3RUGHVLJQDFLyQGHORV-XHFHVGHO7ULEXQDOGH-XVWLFLD(XURSHRHQSOHQR
E3RUGHVLJQDFLyQGHORV-HIHVGH(VWDGRRGH*RELHUQRGHORV(VWDGRVGHOD8QLyQ(XURSHD
F/RHOLJHHO3DUODPHQWR(XURSHRSRUPD\RUtDDEVROXWD
3RUFXiQWRVDxRVVHHOLJHDO3UHVLGHQWHGHO7ULEXQDOGH-XVWLFLD(XURSHR"
E3RUFXDWURDxRVUHQRYDEOHV
F3RUFLQFRDxRVVLQSRVLEOHUHQRYDFLyQ
6HxDOHODVSULQFLSDOHVIXQFLRQHVGH(85232/
D/DVTXHVHVHxDODQHQORVWUHV*UXSRV'LUHFWRUHV,QPLJUDFLyQ\$VLOR&RRSHUDFLyQ
3ROLFLDO\$GXDQHUD\SRU~OWLPROD&RRSHUDFLyQ-XGLFLDOHQPDWHULDFLYLO\SHQDO
E(XURSROVyORWUDWDGHWHUPLQDGRVGHOLWRV
F'HVDUUROODUODFRRSHUDFLyQHQORViPELWRVGH-XVWLFLDH,QWHULRUGHORVSDtVHVLQWHJUD
GRVHQ(XURSRO
&XiOHVODFLXGDGVHGHGHOD6HFUHWDUtD*HQHUDOGHO3DUODPHQWR(XURSHR"
D(VWUDVEXUJR
E/X[HPEXUJR
F%UXVHODV
/RVLQLFLRVGHODFUHDFLyQGH(XURSROVHOOHYyDFDERDOPDUJHQGHOD8QLyQ
(XURSHDSHURGHQWURGHOFRQWH[WRGHLQWHUFDPELRGHLQIRUPDFLyQSROLFLDOHQTXp
PRPHQWRVHSURGXMHURQHVWRVLQLFLRV"
D(QHODxRFRQODFUHDFLyQGHO&OXEGH%HUQDGHVHPERFDQGRHQHOOODPDGR
*UXSRGH7UHYLTXHVHUHFRJLyHQHO$FWDQLFDHQEDVHDOD'HFODUDFLyQGH6WWXWJDUW
E&RQHO7UDWDGRGHPVWHUGDPTXHHQWUyHQYLJRUHOGHPD\RGH
F&RQHO7UDWDGRGH1L]DILUPDGRHOGHIHEUHURGH

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(35,0(5$
(QODOHJLVODFLyQ(XURSHDH[LVWHHOOODPDGR'HUHFKRGHULYDGRTXHSXHGH
VHUFRQFHSWXDGRFRPRHOFRQMXQWRGHQRUPDVHPDQDGDVGHODV,QVWLWXFLRQHV&R
PXQLWDULDVGRWDGDVGHSRGHUOHJLVODWLYRVHxDOHFRPRVHGHQRPLQDQDTXpOODVGH
DOFDQFHJHQHUDOREOLJDWRULDVHQWRGRVVXVHOHPHQWRV\GLUHFWDPHQWHDSOLFDEOHVHQ
ORVWHUULWRULRVGHORV(VWDGRVPLHPEURV
D5HFRPHQGDFLRQHV
E5HJODPHQWRV
F'LFWiPHQHV
0HGLDQWHTXH7UDWDGRVHDGRSWyHOQRPEUHGH8QLyQ(XURSHD
E3RUHO7UDWDGRGH1L]D
F/RV7UDWDGRVGHOD&(&$&((\(85$720QRORSRGtDQPRGLILFDU
4XLpQHMHUFHODSRWHVWDGUHJODPHQWDULD"
D6yOR\H[FOXVLYDPHQWHHO3UHVLGHQWHGHO*RELHUQR
E(O*RELHUQR
F(O3UHVLGHQWH\ORV0LQLVWURVGHO*RELHUQRTXHIRUPDQHOSRGHUHMHFXWLYR
4XpQRPEUHUHFLEHQORVIXQFLRQDULRVTXHSRUUD]RQHVH[SUHVDPHQWHMXVWL
ILFDGDVGHQHFHVLGDG\XUJHQFLDVRQQRPEUDGRVFRPRWDOHVSDUDHOGHVHPSHxRGH
IXQFLRQHVSURSLDVGHIXQFLRQDULRVGHFDUUHUDGiQGRVHFLHUWDVFLUFXQVWDQFLDV"
D,QWHULQRV
E/DERUDOHV
F(YHQWXDOHV
(QTXpFRQGLFLRQHVVHSXHGHDFFHGHUDODFRQGLFLyQGHIXQFLRQDULR"
D 7HQHU FXPSOLGRV GLHFLVpLV DxRV \ QR H[FHGHU HQ VX FDVR GH OD HGDG Pi[LPD GH
MXELODFLyQIRU]RVD
E7HQHUFXPSOLGRVGLHFLRFKRDxRV\QRH[FHGHUHQVXFDVRGHODHGDGPi[LPDGH
MXELODFLyQIRU]RVD
F7HQHUFXPSOLGRVGLHFLRFKRDxRV
(QWUHODVPLVLRQHVGHO&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR
&,&2ILJXUDQ
D(ODERUDUXQ,QIRUPH$QXDOVREUH&ULPLQDOLGDG2UJDQL]DGD\XQD(YDOXDFLyQ3HULyGLFD
GH$PHQD]D
E(ODERUDULQIRUPDFLyQSHULyGLFDVREUHVHJXULGDGFLXGDGDQD
F(ODERUDULQIRUPDFLyQSHULyGLFDVREUHDFWXDFLRQHVGHJUXSRVWHUURULVWDV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(35,0(5$
$GHPiV GH VX GHSHQGHQFLD GH ORV yUJDQRV MXGLFLDOHV FRUUHVSRQGLHQWHV
GyQGHVHLQFDUGLQDOD$ERJDFtDGHO(VWDGR"
'HTXLpQGHSHQGHHO*DELQHWHGH(VWXGLRVGH6HJXULGDG,QWHULRU*(6,"
E'HO0LQLVWURGHO,QWHULRUGLUHFWDPHQWH
F'HOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
&XiO GH ORV VLJXLHQWHV yUJDQRV SHUWHQHFH D OD 6HFUHWDUtD GH (VWDGR GH
6HJXULGDG"
'HTXpWLHPSRQRSXHGHH[FHGHUODVXVSHQVLyQSURYLVLRQDOGHIXQFLRQHVLP
SXHVWDDXQIXQFLRQDULRFRPRPHGLGDFDXWHODUHQODWUDPLWDFLyQGHXQH[SHGLHQWHGLV
FLSOLQDULRVDOYRHQFDVRGHSDUDOL]DFLyQGHOSURFHGLPLHQWRLPSXWDEOHDOLQWHUHVDGR"
D&LQFRPHVHV
E6HLVPHVHV
F6HLVDxRV
'HORVVLJXLHQWHVyUJDQRVFXiOGHHOORVQRGHSHQGHGHOD'LUHFFLyQ$GMXQ
WD2SHUDWLYD"
D(O*UXSR(VSHFLDOGH2SHUDFLRQHV*(2
E/D8QLGDGGH$VXQWRV,QWHUQRV
&XiO GH ODV VLJXLHQWHV &RPLVDUtDV (VSHFLDOHV QR SHUWHQHFH D OD 8QLGDG
&HQWUDOGH3URWHFFLyQGHOD&RPLVDUtD*HQHUDOGH6HJXULGDG&LXGDGDQD"
D&RPLVDUtD(VSHFLDOGHO7ULEXQDO&RQVWLWXFLRQDO
E&RPLVDUtD(VSHFLDOGHO&RQJUHVRGHORV'LSXWDGRV
F&RPLVDUtD(VSHFLDOGHO&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO\GHO7ULEXQDO6XSUHPR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(35,0(5$
8QIXQFLRQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDMXELODGRSRUTXp5HJODPHQ
WR'LVFLSOLQDULRVHULJH"
D3RUHO5HJODPHQWR'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDDSUREDGRSRU5HDO
'HFUHWR
E3RUHO5HJODPHQWR'LVFLSOLQDULRGHOD)XQFLyQ3~EOLFD
F3RUQLQJXQR
&XiOHVHOQ~PHURGHFRPSRQHQWHVGHO&RPLWpGH([SHUWRVGHO&RQVHMRGH
3ROtWLFDGH6HJXULGDG"
D6HLV
E6LHWH
F2FKR
'HTXLpQGHSHQGHQODV8QLGDGHV2UJiQLFDVGH3ROLFtD-XGLFLDO"
D)XQFLRQDOPHQWHGHORV7ULEXQDOHV-XHFHV\0LQLVWHULR)LVFDO\RUJiQLFDPHQWHGHO
0LQLVWHULRGHO,QWHULRUFRQFUHWDPHQWHGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
E2UJiQLFDPHQWHGHORV-XHFHV)XQFLRQDOPHQWHGHO0LQLVWHULRGHO,QWHULRU
F2UJiQLFD\IXQFLRQDOPHQWHGHORV7ULEXQDOHV-XHFHV\0LQLVWHULR)LVFDOHQIXQFLRQHV
GH*XDUGLD
'HHQWUHODVVLJXLHQWHVRSFLRQHVGyQGHVHSXHGHFRQVWLWXLUXQD-XQWDGH
6HJXULGDG"
D(QWRGDVODV&RPXQLGDGHV$XWyQRPDV
E(QODV&RPXQLGDGHV$XWyQRPDVTXHGLVSRQJDQGH&XHUSRVGH3ROLFtDSURSLRV
F (Q ODV &RPXQLGDGHV $XWyQRPDV FX\RV (VWDWXWRV SUHYHDQ OD FUHDFLyQ GH &XHUSRV
SURSLRVGH3ROLFtD
)XQFLRQHVGHO&RQVHMRGH3ROLFtD
E,QVWUXLUH[SHGLHQWHVGLVFLSOLQDULRVFRQWUDPLHPEURVGHO&XHUSR1DFLRQDOGH3ROLFtD
SRUODFRPLVLyQGHIDOWDVPX\JUDYHV
F(VWDEOHFHUODVFRQGLFLRQHVGHSUHVWDFLyQGHOVHUYLFLRGHORVIXQFLRQDULRVSROLFLDOHV
3RUTXpQRVHUHFRJHHQHO&yGLJRSHQDOODFRQGHQDDFDGHQDSHUSHWXD"
E<DTXHSRUVXGXUDFLyQLUtDFRQWUDHOSULQFLSLRGHSURSRUFLRQDOLGDG
F6XDSOLFDFLyQVHUtDFRQWUDULDDOSULQFLSLRGHFXOSDELOLGDG
6HJ~QHO&yGLJRSHQDO6HFRQVLGHUDQDXWRUHV
E/RVTXHFRRSHUDQDVXHMHFXFLyQFRQXQDFWRVLQHOFXiOVHKXELHVHHIHFWXDGRHOGHOLWR
F/RVTXHFRODERUDQFRQXQKHFKRTXHQRHVLPSUHVFLQGLEOHSDUDFRPHWHUHOGHOLWR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(35,0(5$
3XHGHQLQVWDUHOSURFHGLPLHQWRGH+DEHDV&RUSXV
D(O/HWUDGR\HO3URFXUDGRUGHOGHWHQLGRFXDOTXLHUIDPLOLDUGHOPLVPRHO0LQLVWHULR
)LVFDO\HO'HIHQVRUGHO3XHEOR
E(OSULYDGRGHOLEHUWDGVXFyQ\XJHRSHUVRQDXQLGDSRUDQiORJDUHODFLyQGHDIHFWL
YLGDG GHVFHQGLHQWHV DVFHQGLHQWHV KHUPDQRV \ HQ VX FDVR UHVSHFWR D ORV PHQRUHV \
SHUVRQDVLQFDSDFLWDGDVVXVUHSUHVHQWDQWHVOHJDOHV
F(OGHWHQLGRFXDOTXLHUDGHVXVIDPLOLDUHVHO0LQLVWHULR)LVFDO\HO-XH]GHRILFLR
(QEDVHDTXHGHOLWRVHSRGUiVROLFLWDUOD2UGHQ(XURSHDGH'HWHQFLyQ\
(QWUHJDGHXQLQGLYLGXR"
D(QFDVRGHTXHHOGHOLWRFRPHWLGRHVWXYLHUDFDVWLJDGRFRQXQDSHQDRXQDPHGLGD
GHVHJXULGDGSULYDWLYDGHOLEHUWDG
E(QFDVRGHTXHHOGHOLWRFRPHWLGRVHDGHFDUiFWHUFLYLORDGPLQLVWUDWLYR
F(QFDVRGHTXHWHQJDSHQGLHQWHVXGHWHQFLyQSRUXQDSHQDTXHQROOHYHFRQVLJR
SULYDFLyQGHOLEHUWDG
6HxDOHGHHQWUHORVLJXLHQWHORTXHVHDFRUUHFWRHQHOWUDWDPLHQWRDXQ
GHWHQLGRSRUWHUURULVPRTXHVHHQFXHQWUDLQFRPXQLFDGR
D1RSXHGHHOHJLUHO$ERJDGRTXHOHDVLVWD\DTXHVHOHQRPEUDUiGHRILFLR
E&RPXQLFDUDODSHUVRQDTXHGHVLJQHHOOXJDUGRQGHVHHQFXHQWUDGHWHQLGR
F6HSRGUiHQWUHYLVWDUHQSULYDGRFRQHO/HWUDGRTXHORKD\DDVLVWLGRWUDVSUHVWDUGH
FODUDFLyQ
/DVIXQFLRQDULDVYtFWLPDVGHODYLROHQFLDGHJpQHURFXiQWRWLHPSRPtQLPR
WLHQHQTXHOOHYDUSUHVWDQGRVHUYLFLRSDUDSRGHUVROLFLWDUH[FHGHQFLDSRUHVWHPRWLYR"
D8QDxR
E6HLVPHVHV
'HHQWUHODVVLJXLHQWHVTXp8QLGDGHVQRSHUWHQHFHQDODV)XHU]DV\&XHU
SRVGH6HJXULGDGGHO(VWDGR"
D(O6HUYLFLRGH$WHQFLyQDOD)DPLOLD
E/DV8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ
F(O6HUYLFLRGH$WHQFLyQGH5HJLVWUR
$ TXLpQHV HV DSOLFDEOH ORV EHQHILFLRV GH OD /H\ GH $WHQFLyQ D 3HUVRQDV
'HSHQGLHQWHV"
D$ORVHVSDxROHV\ORVH[WUDQMHURVUHVLGHQWHVOHJDOPHQWHHQ(VSDxD
E$ORVHVSDxROHV\H[WUDQMHURVHQJHQHUDO
F/RVHVSDxROHV

32/,&$1$&,21$/(6&$/$%6,&$
6ROXFLyQDOWHVWGHH[DPHQ
E(OQDFLPLHQWR
E'HUHFKRSRVLWLYR
EGtDV
D5HVLGLHQGROHJDOPHQWHHQ(VSDxDGHFODUDQGRDQWHHO(QFDUJDGRGHO5HJLVWUR&LYLO
VXYROXQWDGGHUHFXSHUDUODHLQVFULELHQGRODUHFXSHUDFLyQHQHO5HJLVWUR&LYLO
D/DVOH\HVVyORVHGHURJDQSRURWUDVSRVWHULRUHV
E$ORVYHLQWHGtDV
E(O'HUHFKRQDWXUDO
D UGHQHV GH ODV &RPLVLRQHV 'HOHJDGDV GHO *RELHUQR UGHQHV 0LQLVWHULDOHV \
'LVSRVLFLRQHVGH$XWRULGDGHV\yUJDQRVLQIHULRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(35,0(5$
E6tSHURXQDYH]DSUREDGDODUHIRUPDSRUODV&RUWHV*HQHUDOHVFRQWRGRVORV
UHTXLVLWRVTXHVHH[LJHQHQOD&RQVWLWXFLyQODWHQGUtDQTXHVRPHWHUVLSURFHGHDUHIHUpQ
GXPSDUDVXUDWLILFDFLyQ
E/H\RUJiQLFD
D&LQFRGtDV
D3RUGHVLJQDFLyQGHORV-XHFHVGHO7ULEXQDOGH-XVWLFLD(XURSHR
F 'HVDUUROODU OD FRRSHUDFLyQ HQ ORV iPELWRV GH -XVWLFLD H ,QWHULRU GH ORV SDtVHV
LQWHJUDGRVHQ(XURSRO
E/X[HPEXUJR
D(QHODxRFRQODFUHDFLyQGHO&OXEGH%HUQDGHVHPERFDQGRHQHOOODPD
GR*UXSRGH7UHYLTXHVHUHFRJLyHQHO$FWDQLFDHQEDVHDOD'HFODUDFLyQGH6WWXJDUW
E5HJODPHQWRV
E(O*RELHUQR
D,QWHULQRV
D7HQHUFXPSOLGRVGLHFLVpLV\QRH[FHGHUHQVXFDVRGHODHGDGPi[LPDGHMXEL
ODFLyQIRU]RVD
D(ODERUDUXQ,QIRUPH$QXDOVREUH&ULPLQDOLGDG2UJDQL]DGD\XQD(YDOXDFLyQ3H
ULyGLFDGH$PHQD]D
E6HLVPHVHV

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(35,0(5$
E&RPLVDUtD(VSHFLDOGHO&RQJUHVRGHORV'LSXWDGRV
F3RUQLQJXQR
F2FKR
D)XQFLRQDOPHQWHGHORV7ULEXQDOHV-XHFHV\0LQLVWHULR)LVFDO\RUJiQLFDPHQWH
GHO0LQLVWHULRGHO,QWHULRUFRQFUHWDPHQWHGHOD6HFUHWDUtDGH(VWDGRGH6HJXULGDG
E(QODV&RPXQLGDGHV$XWyQRPDVTXHGLVSRQJDGH&XHUSRVGH3ROLFtDSURSLRV
E(OSULYDGRGHOLEHUWDGVXFyQ\XJHRSHUVRQDXQLGDSRUDQiORJDUHODFLyQGHDIHF
WLYLGDGGHVFHQGLHQWHVDVFHQGLHQWHVKHUPDQRV\HQVXFDVRUHVSHFWRDORVPHQRUHV\
SHUVRQDVLQFDSDFLWDGDVVXVUHSUHVHQWDQWHVOHJDOHV
D(QFDVRGHTXHHOGHOLWRFRPHWLGRHVWXYLHUDFDVWLJDGRFRQXQDSHQDRXQDPH
GLGDGHVHJXULGDGSULYDWLYDGHOLEHUWDG
D1RSXHGHHOHJLUHO$ERJDGRTXHOHDVLVWD\DTXHVHOHQRPEUDUiGHRILFLR
F(O6HUYLFLRGH$WHQFLyQGH5HJLVWUR
F/RVHVSDxROHV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(,,
6,08/$&52'((;$0(1&2135(*817$66,0,/$5(6
$/$6'(/(;$0(12),&,$/'(/$&2192&$725,$
&(/(%5$'2&21)(&+$'(129,(0%5('(
6(*81'$3$57(&,(1&,$662&,$/(6<0$7(5,$67e&1,&2&,(17),&$6
4XLpQHOLJHDO3UHVLGHQWHGHO7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRV"
D(O7ULEXQDOHQSOHQR
E/D$VDPEOHD3DUODPHQWDULDGHO&RQVHMRGH(XURSD
F(O&RPLWpGH0LQLVWURV
2EMHWLYRGHOSURWRFRORFRQWUDODWRUWXUDHV
D(VWDEOHFHUXQVLVWHPDGHYLVLWDVSHULyGLFDVSRUPHGLRGHyUJDQRVLQGHSHQGLHQWHVD
&HQWURVSROLFLDOHV
E(VWDEOHFHUXQVLVWHPDGHYLVLWDVSHULyGLFDVSRUPHGLRGHyUJDQRVLQGHSHQGLHQWHVD
ORVOXJDUHVGRQGHVHHQFXHQWUHQSHUVRQDVSULYDGDVGHOLEHUWDG
F 5HDOL]DU YLVLWDV SHULyGLFDV D OXJDUHV GHWHUPLQDGRV HOHJLGRV SRU ORV PLHPEURV GHO
6XEFRPLWp
/RVGHUHFKRVKXPDQRVHQQXHVWUD&RQVWLWXFLyQVHHQFXHQWUDQHQ
D(QHO7tWXOR3UHOLPLQDU
E(QHO7tWXORGHORV'HUHFKRV\'HEHUHV)XQGDPHQWDOHV
F(QHO&DStWXORGHORV'HUHFKRV\/LEHUWDGHV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(6(*81'$
$TXLpQVHOHGHEHHOWpUPLQRDOGHDJOREDO"
D0F/XKDQ
E)XNX\DPD
F6XWKHUODQG
4XpSLGHQHQHFRQRPtDORVPRYLPLHQWRVDQWLJOREDOL]DFLyQ"
D,PSODQWDFLyQGHOD7DVD7RELQ
E/LEHUDOL]DFLyQGHORVPHUFDGRV
F0D\RULQYHUVLyQHQSDtVHVGHVDUUROODGRV
(QTXpFRQVLVWHEiVLFDPHQWHODJOREDOL]DFLyQ"
D(VXQSURFHVRHFRQyPLFR\WHFQROyJLFR
E(VXQVLVWHPDEDVDGRIXQGDPHQWDOPHQWHHQODVHQHUJtDVUHQRYDEOHV
F6LVWHPDHFRQyPLFRVRFLDOHQHOTXHVDOHEHQHILFLDGRODHFRORJtD\HOPHGLRDPELHQWH
4XpWUDVWRUQRVHSURGXFHHQODSHUVRQDOLGDGGHXQLQGLYLGXRTXHVHLGHQWL
ILFDWRWDOPHQWHFRQXQDVHFWD"
D5HWUDLPLHQWRSVLFRVRFLDO
E&RQGXFWDSDUDQRLGH
F7UDVWRUQRGLVRFLDWLYRDWtSLFR
(QTXpHWDSDGHODVRFLDOL]DFLyQXQDSHUVRQDVHHPDQFLSDGHOQ~FOHRIDPL
OLDUDOFRPHQ]DUDFRQYHUWLUVHHQDGXOWR"
D6RFLDOL]DFLyQSULPDULD
F6RFLDOL]DFLyQWHUFLDULD
/DWHRUtDGHOFRQGLFLRQDPLHQWRRSHUDQWHFRPRSURFHGLPLHQWRGHDSUHQGL]DMH
VHEDVDHQ
D0RWLYDFLyQ
E,PLWDFLyQ
F3UHPLRV\FDVWLJRV
8QD VRFLDOL]DFLyQ HILFLHQWH VH UHDOL]D PHGLDQWH HO DSUHQGL]DMH FX\RV GRV
PHFDQLVPRVPiVLPSRUWDQWHVVRQ
D,PLWDFLyQ\HODSUHQGL]DMH
E(OPLPHWLVPR\ODLPLWDFLyQ
F/DLPLWDFLyQ\UHSHWLFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(6(*81'$
&XDQGRGRVFXOWXUDVFRLQFLGHQHQXQPLVPRHVSDFLRGHIRUPDTXHORVLQGL
YLGXRVGHXQDGHHOODVYDQDEDQGRQDQGRVXVUDVJRVFXOWXUDOHV\DFHSWDQGRORVGH
ODFXOWXUDPiVGRPLQDQWHVHGLFHTXHVHKDSURGXFLGRXQD
D(QFXOWXUDFLyQ
E$FXOWXUDFLyQ
F,QWHJUDFLyQ
(OUDFLVPR\HOVHQWLPLHQWRGHVXSHULRULGDGUDFLDOTXpWLSRGHSUHMXLFLRHV"
D'HHQGRJUXSR
E'HH[RJUXSR
F,QWHUQR
6RQIXQFLRQHVGHOD[HQRIRELD
D'HSUHMXLFLR\GLVFULPLQDFLyQ
E'HGLVFULPLQDFLyQ\UDFLVPR
F'HSUR\HFFLyQ\GHVSOD]DPLHQWR
/RVFRQIOLFWRVVRFLDOHVVHFDUDFWHUL]DQSRUVX
D9LROHQFLDHLQWHQVLGDG
E$FFLyQ\UHDFFLyQ
F/XFKDGHFODVHV\VXOXFKDGHSRGHU
(QTXpFRQVLVWHHOIHQyPHQR%UDLQ'UDLQ"
D(QHOIRPHQWRGHODIRUPDFLyQSRUSDUWHGHXQ(VWDGR
E(QXQWLSRGHIHQyPHQRPHGLRDPELHQWDO
F(QHOGHVSOD]DPLHQWRGHPHQWHVSULYLOHJLDGDVDSDtVHVGHVDUUROODGRV
&XDQGRXQLQPLJUDQWHVHDGDSWDWRWDOPHQWHDOSDtVGHOOHJDGDGHIRUPDTXH
VHLQWHJUDFRPSOHWDPHQWHDVXQXHYDVRFLHGDGSDUWLFLSDQGRDFWLYDPHQWHGHWRGRV
ORVEHQHILFLRVVRFLDOHVROYLGDQGRVXDQWLJXRVYDORUHVVHGLFHTXHVHKDSURGXFLGR
D6RFLDOL]DFLyQ
E$VLPLODFLyQ
F(QFXOWXUDFLyQ
$ORODUJRGHODKLVWRULDGHODVPLJUDFLRQHVHXURSHDVGXUDQWHHOVLJOR;,;\
SULQFLSLRVGHOVLJOR;;XQJUDQQ~PHURGHHXURSHRVPDUFKDURQDOFRQWLQHQWHDPHUL
FDQR8QDVHJXQGDHWDSDPLJUDWRULDVHSURGXMRGHVSXpVGHOD,*XHUUD0XQGLDOHQ
ODTXHVHSURGXMRXQDLQPLJUDFLyQPDVLYDSDUDODUHFRQVWUXFFLyQGHORVSDtVHVPiV
LQGXVWULDOL]DGRVGHHVWHFRQWLQHQWH/DHWDSDDFWXDOVHFDUDFWHUL]DSRUXQDLQPLJUD
FLyQJHQHUDOL]DGDDODPD\RUtDGHSDtVHVHXURSHRV
D7RGRHVFRUUHFWR
E6RQFRUUHFWDVHVWDVHWDSDVSHURODVHJXQGDVHSURGXMRGHVSXpVGHODVHJXQGD*XH
UUD0XQGLDO\QRGHODSULPHUD
F/DSULPHUDHWDSDQRHVGHHPLJUDFLyQVLQRGHLQPLJUDFLyQD(XURSD
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(6(*81'$
&yPRVHFDOFXODODWDVDGHLQPLJUDFLyQQHWD
D(VODGLIHUHQFLDHQWUHODVWDVDVGHLQPLJUDFLyQ\HPLJUDFLyQ
E7RWDOGHHPLJUDQWHVHQUHODFLyQFRQODSREODFLyQGHGHVWLQR
F'LIHUHQFLDHQWUHHOQ~PHURGHLQPLJUDQWHV\HOGHHPLJUDQWHV
&XiOGHORVVLJXLHQWHVWpUPLQRVQRVHUHILHUHDXQWLSRGHHFRVLVWHPDV"
D7XQGUD
E7DLJD
F&RQXUEDFLyQ
&XiOGHHVWRVIDFWRUHVHVVLJQLILFDWLYRGHODOOXYLDiFLGD"
D'Ly[LGRGHFDUERQR
E&2
FFLGRVXOI~ULFR
&XiOQRHVXQDFRQVHFXHQFLDGHOFDOHQWDPLHQWRJOREDOGHOD7LHUUD"
D'HVFHQVRGHOQLYHOGHOPDU
E7HPSHUDWXUDVPiVFiOLGDV
F$XPHQWRGHSRVLELOLGDGGHVHTXtD
=RQDVH[WHQVDVGHWHUUHQRXUEDQRTXHDJUXSDQYDULDVFLXGDGHVRQ~FOHRV
GHSREODFLyQ\H[WUDUUDGLRV\GHODVTXHGHSHQGHQRWUDVFLXGDGHVPHQRUHV
D0HWUySROLV
E0HJDOySROLV
F0HJDFLXGDG
/DYLFWLPL]DFLyQTXHVHSURGXFHFRPRFRQVHFXHQFLDGHTXHSRUPHGLRGH
UXPRUHVRLQIOXHQFLDVGHRWURVDJHQWHVVRFLDOHVVHSXHGDHWLTXHWDUDXQDSHUVRQD
FRPRGHOLQFXHQWHHV
D3ULPDULD
E6HFXQGDULD
F7HUFLDULD
4XpIXQFLyQGHVWDFDGDGHVDUUROODXQOtGHUGHQWURGHXQJUXSRVRFLDO"
D'HILQLU\SRWHQFLDUORVUROHVGHVXVPLHPEURV
E'DUEXHQDLPDJHQDOJUXSR
F,QGXFLUFRQGXFWDVGHQWURGHORVPLHPEURVGHOJUXSR
6REUHODWUDQVLFLyQGHPRJUiILFDVHxDOHXQDUHVSXHVWDTXHODFDUDFWHULFH
D3URJUHVRWHFQROyJLFR\VRFLDO
E&UHFLPLHQWRGHSREODFLyQGHELGRDODVEDMDVWDVDVGHPRUWDOLGDG
F,JXDODFLyQGHODVWDVDVGHQDWDOLGDG\GHPRUWDOLGDG

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(6(*81'$
&XiOHVVRQODVGURJDVPiVFRQRFLGDVSRUVXVHIHFWRVGHSUHVRUHV"
D'HULYDGRVGHOD&DQQDELV6DWLYD
E2SLiFHRV
F$QIHWDPLQDV\FRFDtQD
&ODVLILFDFLyQ GH ODV VXVWDQFLDV SVLFRWUySLFDV VHJ~Q HO &RQYHQLR GH 9LHQD

D3VLFROpSWLFDVSVLFRDQDOpSWLFDV\SVLFRGLVOpSWLFDV
E'HSUHVRUHVSVLFROpSWLFDV\SVLFRDQDOpSWLFDV
F$OXFLQyJHQRVSVLFRGLVOpSWLFDV\SVLFROpSWLFDV
&yPRVHSURGXFHQODVRQGDVHOHFWURPDJQpWLFDV
D3RUODDFFLyQGHFDPSRVHOpFWULFRVRVFLODQWHV
E3RUODDFFLyQGHFDPSRVPDJQpWLFRVRVFLODQWHV
F3RUODDFFLyQFRPELQDGDGHDPEDV
'HTXpPDWHULDOHVVHUHDOL]DQORVHQFDSVXODGRVGHORVFRPSRQHQWHVHOHF
WUyQLFRVQRUPDOPHQWH"
D'HPHWDOYLGULR\SOiVWLFR
E'HFHUiPLFDPHWDO\SOiVWLFR
F'HFHUiPLFDSOiVWLFR\PDGHUD
&XiOGHODVVLJXLHQWHVUHVSXHVWDVGHILQLUtDPHMRUDXQFLUFXLWRHOpFWULFR"
D3DUWHGHOD)tVLFDTXHHVWXGLDORVHIHFWRVGHORVHOHFWURQHVHQPRYLPLHQWR
E8QDEDWHUtDXQWUDQVGXFWRU\XQDUHVLVWHQFLD
F(OHPHQWRVHOpFWULFRVRHOHFWUyQLFRVFRQHFWDGRVHQWUHVtDOLPHQWDGRVSRUHOHFWULFLGDG
SDUDFRQVHJXLUXQGHWHUPLQDGRILQ
4XpGHVYHQWDMDSUHVHQWDQODVWUDQVPLVLRQHVGLJLWDOHVVREUHODVDQDOyJLFDV"
D4XHRFXSDQPiVDQFKRGHEDQGD
E4XHDFXPXODQPiVUXLGR
F4XHVRQPiVVHQVLEOHVDORVIDFWRUHVDWPRVIpULFRV
8QDVHxDODQDOyJLFDHV
D8QDVHxDOGLVFRQWLQXDHQHOWLHPSR
E8QDVHxDOGLVFRQWLQXDHQHOHVSDFLR
F8QDVHxDOFRQWLQXDHQHOWLHPSR
&RPRFDUDFWHUtVWLFDGHODVRQGDVHOHFWURPDJQpWLFDVVHVHxDOD
D1HFHVLWDQGHXQPHGLRPDWHULDOSDUDVXWUDQVSRUWH
E(QHOHVSDFLRFLUFXODQHQXQRUGHQGHYHORFLGDGLJXDODOGHODOX]
F&LUFXODQDPD\RUYHORFLGDGHQODDWPyVIHUDTXHHQHOYDFtR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(6(*81'$
4XpHVXQWUDQVFHSWRU"
D8QHTXLSRHOHFWUyQLFRPyYLOSDUDFRPXQLFDFLyQ
E8QGLVSRVLWLYRTXHUHDOL]DIXQFLRQHVWDQWRGHWUDQVPLVLyQFRPRGHUHFHSFLyQ
F8QGLVSRVLWLYRTXHUHDOL]DIXQFLRQHVH[FOXVLYDPHQWHGHUHFHSFLyQ
4XpFDUDFWHUtVWLFDQRFRUUHVSRQGHDODPHPRULD5$0
D(VXQDPHPRULDGHGDWRVLQWHUPHGLDULDGHSURFHVR
E6HSLHUGHQORVGDWRVVLVHGHVFRQHFWDGHODIXHQWHGHDOLPHQWDFLyQ
F&RQWLHQHHOFRQMXQWRGHVHFXHQFLDVGHDUUDQTXHGHORUGHQDGRU
4XpSDUWHGHORUGHQDGRUUHDOL]DODVIXQFLRQHVGHFiOFXOR"
D8$/
E8&
F&38
4XpWLSRGHVDQJUtDSHUPLWHRFXSDUWRGRRSDUWHGHOPDUJHQGHXQHVFULWR"
D)UDQFHVD
E/DWHUDORH[WHUQD
F1HJDWLYD
'yQGHVHSXHGHYHUHQ:RUGHOQ~PHURGHSiJLQDVTXHFRQIRUPDQXQGR
FXPHQWR"
D(QODEDUUDGHPHQ~
E(QODEDUUDGHKHUUDPLHQWDV
F(QODEDUUDGHHVWDGR
6LTXHUHPRVLPSULPLUYDULDVSiJLQDVQRFRQVHFXWLYDVXWLOL]DQGRHOHGLWRUGH
WH[WR0LFURVRIW:RUGTXpRSFLyQVHUtDODPiVFRUUHFWD"
D $UFKLYR LPSULPLU LQWURGXFLU GHQWUR GHO FDMHWtQ ORV Q~PHURV GH SiJLQD D LPSULPLU
VHSDUDGRVGHFRPDV
E $UFKLYR LPSULPLU LQWURGXFLU GHQWUR GHO FDMHWtQ ORV Q~PHURV GH SiJLQD D LPSULPLU
VHSDUDGRVGHJXLRQHV
F3XOVDQGRGLUHFWDPHQWHHOLFRQRGHLPSUHVRUDGHODEDUUDGHKHUUDPLHQWDV\VHSDUDQ
GRODVSiJLQDVGHXQDXRWUDIRUPD
&XiOHVHOSURWRFRORXVDGRHQ,QWHUQHW"
D7&3,3
EZZZ
FKWWSZZZ

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(6(*81'$
&yPRVHLGHQWLILFDQFDGDXQRGHORVRUGHQDGRUHVFRQHFWDGRVDXQDPLVPDUHG"
D3RUODGLUHFFLyQ,3
E3RUHOSURWRFRORGHUHG
F3RUHOQRPEUHGHXVXDULR
,QWHUQHWHVXQDUHG
D/$1
E:$1
F,QWUDQHW
&yPRVHWUDQVPLWHQORVGDWRVHQXQDUHGGHWRSRORJtDHQDQLOOR"
D'HIRUPDXQLGLUHFFLRQDO
E'HIRUPDELGLUHFFLRQDO
F'HIRUPDPXOWLGLUHFFLRQDO
/DIXQFLyQIXQGDPHQWDOGHOWDFRHQXQFDUWXFKRVHPLPHWiOLFRHV
D2EWXUDFLyQGHORVJDVHVGHGHIODJUDFLyQGHODSyOYRUD\OXEULFDFLyQGHOFDxyQ
E$JUXSDUDORVSHUGLJRQHV\OLPSLDUHOHVWULDGRGHOFDxyQ
F$PRUWLJXDUHOFKRTXHGHORVSHUGLJRQHV
&ODVLILFDFLyQGHODVDUPDVGHUHWURFDUJDVHJ~QODSHUFXVLyQTXHVHXWLOLFH
D'HDJXMDIXHJRFHQWUDO\IXHJRDQXODU
E/HIDXFKHX[)OREHUW\%HUGDP
F/HIDXFKHX[GHDYDQFDUJD\GHUHWURFDUJD
(QTXpWLSRGHDUPDVVHFDWDORJDQODVDQWLJXDVGHOODYHGHUXHGD"
D/HIDXFKHX[
E'HFKLVSDV
F7RGDVODVGHDYDQFDUJD
4XpWLSRGHDUPDHVDTXpOODTXHVHUHFDUJDDXWRPiWLFDPHQWHGHVSXpVGH
FDGDGLVSDURSHURTXHVyORHVSRVLEOHHIHFWXDUXQRFDGDYH]TXHVHDFFLRQDODFROD
GHOGLVSDUDGRU
D6HPLDXWRPiWLFD
E5HSHWLFLyQ
F$XWRPiWLFD
4XpHVODJROD"
D/DSDUWHTXHXQHODERFDGHODYDLQDFRQHOSUR\HFWLO
E/DTXHOHGDODIRUPDWURQFRFyQLFDDODYDLQD
F3DUWHGHXQDYDLQDJROOHWHDGD
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(6(*81'$
/RVFDUWXFKRVVHSXHGHQFODVLILFDU
D&RQSUR\HFWLOHV\VLQSUR\HFWLOHV
E&RQSUR\HFWLOHVVLQSUR\HFWLOHV\GHSHQGLHQGRGHODYDLQD
F&RQSUR\HFWLOHV\VHJ~QHOWLSRGHYDLQD

32/,&$1$&,21$/(6&$/$%6,&$
D(O7ULEXQDOHQSOHQR
E(VWDEOHFHUXQVLVWHPDGHYLVLWDVSHULyGLFDVSRUPHGLRGHyUJDQRVLQGHSHQGLHQWHV
DORVOXJDUHVGRQGHVHHQFXHQWUHQSHUVRQDVSULYDGDVGHOLEHUWDG
E(QHO7tWXORGHORV'HUHFKRV\'HEHUHV)XQGDPHQWDOHV
D0F/XKDQ
D,PSODQWDFLyQGHOD7DVD7RELQ
D(VXQSURFHVRHFRQyPLFR\WHFQROyJLFR
F7UDVWRUQRGLVRFLDWLYRDWtSLFR
F3UHPLRV\FDVWLJRV
F/DLPLWDFLyQ\UHSHWLFLyQ
E$FXOWXUDFLyQ
E'HH[RJUXSR
F'HSUR\HFFLyQ\GHVSOD]DPLHQWR
D9LROHQFLDHLQWHQVLGDG
F(QHOGHVSOD]DPLHQWRGHPHQWHVSULYLOHJLDGDVDSDtVHVGHVDUUROODGRV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(1129,(0%5(3$57(6(*81'$
E$VLPLODFLyQ
E6RQFRUUHFWDVHVWDVHWDSDSHURODVHJXQGDVHSURGXMRGHVSXpVGHODVHJXQGD
*XHUUD0XQGLDO\QRGHODSULPHUD
D(VODGLIHUHQFLDHQWUHODVWDVDVGHLQPLJUDFLyQ\HPLJUDFLyQ
F&RQXUEDFLyQ
FFLGRVXOI~ULFR
D'HVFHQVRGHOQLYHOGHOPDU
E0HJDOySROLV
F7HUFLDULD
F,QGXFLUFRQGXFWDVGHQWURGHORVPLHPEURVGHOJUXSR
E&UHFLPLHQWRGHSREODFLyQGHELGRDODVEDMDVWDVDVGHPRUWDOLGDG
E2SLiFHRV
D3VLFROpSWLFDVSVLFRDQDOpSWLFDV\SVLFRGLVOpSWLFDV
F3RUODDFFLyQFRPELQDGDGHDPEDV
E'HFHUiPLFDPHWDO\SOiVWLFR
F(OHPHQWRVHOpFWULFRVRHOHFWUyQLFRVFRQHFWDGRVHQWUHVtDOLPHQWDGRVSRUHOHF
WULFLGDGSDUDFRQVHJXLUXQGHWHUPLQDGRILQ
E4XHDFXPXODQPiVUXLGR
F8QDVHxDOFRQWLQXDHQHOWLHPSR
E(QHOHVSDFLRFLUFXODQHQXQRUGHQGHYHORFLGDGLJXDODOGHODOX]
E8QGLVSRVLWLYRTXHUHDOL]DIXQFLRQHVWDQWRGHWUDQVPLVLyQFRPRGHUHFHSFLyQ
F&RQWLHQHHOFRQMXQWRGHVHFXHQFLDVGHDUUDQTXHGHORUGHQDGRU
D8$/
F1HJDWLYD
F(QODEDUUDGHHVWDGR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(1129,(0%5(3$57(6(*81'$
D$UFKLYRLPSULPLULQWURGXFLUGHQWURGHOFDMHWtQORVQ~PHURVGHSiJLQDDLPSULPLU
VHSDUDGRVGHFRPDV
D7&3,3
D3RUODGLUHFFLyQ,3
E:$1
D'HIRUPDXQLGLUHFFLRQDO
D2EWXUDFLyQGHORVJDVHVGHGHIODJUDFLyQGHODSyOYRUD\OXEULFDFLyQGHOFDxyQ
D'HDJXMDIXHJRFHQWUDO\IXHJRDQXODU
E'HFKLVSDV
D6HPLDXWRPiWLFD
F3DUWHGHXQDYDLQDJROOHWHDGD
E&RQSUR\HFWLOHVVLQSUR\HFWLOHV\GHSHQGLHQGRGHODYDLQD
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(,
6,08/$&52'((;$0(1&2135(*817$66,0,/$5(6
$/$6'(/(;$0(12),&,$/'(/$&2192&$725,$
35,0(5$3$57(&,(1&,$6-85',&$6
&XiOGHHQWUHORVVLJXLHQWHVHVUHTXLVLWRSDUDODUHFXSHUDFLyQGHODQDFLR
QDOLGDGHVSDxROD"
D6HUUHVLGHQWHOHJDOHQ(VSDxDGXUDQWHORVWUHVDxRVDQWHULRUHVDODSHWLFLyQ
E5HQXQFLDUDODDQWHULRUQDFLRQDOLGDG
4XpWLSRGHOH\HVQRSXHGHQVHUDSUREDGDVHQ&RPLVLyQ"
D7RGDVODVOH\HVSXHGHQDSUREDUVHHQ&RPLVLyQ
E/DUHIRUPDFRQVWLWXFLRQDOODVFXHVWLRQHVLQWHUQDFLRQDOHVODVOH\HVRUJiQLFDV\GH
EDVHV\ORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
F7RGDVODVOH\HVSXHGHQDSUREDUVHHQ&RPLVLyQH[FHSWRODVRUJiQLFDVTXHQHFHVLWD
PD\RUtDDEVROXWDGHO3OHQR
6HJ~QHODUWtFXORGHO&yGLJRFLYLOFyPRVHGHURJDQODVOH\HV"
E3RURWUDVVXSHULRUHV
F3RURWUDVLJXDOHVRVXSHULRUHV
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
6HxDOHODUHVSXHVWDFRUUHFWDUHVSHFWRDODYHFLQGDGFLYLO
E/DYHFLQGDGFLYLOVHDGTXLHUHSRUUHVLGHQFLDFRQWLQXDGDGXUDQWHXQDxRVLHPSUHTXH
HOLQWHUHVDGRPDQLILHVWHVHUHVDVXYROXQWDG
F/DYHFLQGDGFLYLOVHDGTXLHUHSRUUHVLGHQFLDFRQWLQXDGDGHVLHWHDxRVVLQGHFODUDFLyQ
HQFRQWUDULRHQHVWHSOD]R
(OGRPLFLOLRGHORVGLSORPiWLFRVUHVLGHQWHVHQHOH[WUDQMHURSRUUD]yQGHVX
FDUJRTXHJRFHQGHOGHUHFKRGHH[WUDWHUULWRULDOLGDGVHUiHO~OWLPRTXHKXELHUHQ
WHQLGRHQWHUULWRULRHVSDxROTXpQRPEUHUHFLEHHVWHGRPLFLOLR"
D5HDORYROXQWDULR
E/HJDORQHFHVDULR
F(OHFWLYRRHVSHFLDO
6LHQGR OD FDSDFLGDG GH REUDU R GH HMHUFLFLR OD SRVLELOLGDG TXH WLHQH XQD
SHUVRQDGHDFWXDUMXUtGLFDPHQWHSRUVtPLVPRVHxDOHHQWUHODVVLJXLHQWHVODTXH
FRQVLGHUHOLPLWDFLyQGHGLFKDFDSDFLGDG
D/DLQFDSDFLWDFLyQ
E/DSURGLJDOLGDG
/RVYDORUHVVXSHULRUHVGHORUGHQDPLHQWRMXUtGLFRFRQWHPSODGRVHQOD&RQVWL
WXFLyQ(VSDxRODVRQ
E/LEHUWDGHTXLGDGMXVWLFLDHLJXDOGDG
F/LEHUWDGMXVWLFLDLJXDOGDG\SOXUDOLVPRMXUtGLFR
(QWUHORVFDUDFWHUHVGHODDFWXDO&RQVWLWXFLyQ(VSDxRODILJXUDHOGHVHU
D)iFLOGHUHIRUPDU
F&RUWDGHFRQWHQLGR
(O'HIHQVRUGHO3XHEOR
D6yORSXHGHDFWXDUDLQVWDQFLDGHSDUWHLQWHUHVDGD
F(VHOHJLGRSDUDXQPDQGDWRGHFXDWURDxRV
(QWUHODVFRPSHWHQFLDVTXHSXHGHQDVXPLUODV&RPXQLGDGHV$XWyQRPDV
QRVHHQFXHQWUD
D/DDVLVWHQFLDVRFLDO
E/DDUWHVDQtD

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(35,0(5$
7UDVXQDVHOHFFLRQHVJHQHUDOHVTXpSOD]ROHJDOKD\SDUDVHUFRQYRFDGRHO
QXHYR&RQJUHVRGHORV'LSXWDGRV"
D7UHLQWDGtDV
E9HLQWLFLQFRGtDV
F(QWUHWUHLQWD\VHVHQWDGtDV
/D5HLQDFRQVRUWHSRGUiDVXPLUIXQFLRQHVFRQVWLWXFLRQDOHV"
D/DGHO$OWR3DWURQD]JRGHODV5HDOHV$FDGHPLDV
F3RGUiFRQYRFDUDUHIHUpQGXPHQORVFDVRVSUHYLVWRVHQOD&RQVWLWXFLyQ
4XLpQSRGUiVHUWXWRUGHO5H\PHQRUGHHGDG"
D/DSHUVRQDPD\RUGHHGDG\HVSDxROGHQDFLPLHQWRTXHHQVXWHVWDPHQWRKXELHVH
QRPEUDGRHO5H\GLIXQWR
E(OSDGUHRODPDGUHHQWRGRFDVR
F6LHPSUHHQSULPHUOXJDUTXLHQGHVLJQHQODV&RUWHV*HQHUDOHV
4XLpQHOLJHDO3UHVLGHQWHGHXQD&RPXQLGDG$XWyQRPD"
D(O&RQVHMRGH*RELHUQRGHODPLVPD&RPXQLGDG$XWyQRPD
E(O7ULEXQDO6XSHULRUGH-XVWLFLDGHOD&RPXQLGDG$XWyQRPD
(VXQDIDFXOWDGGHORVPLHPEURVGHO*RELHUQR
D3RGHUDFXGLUVRODPHQWHDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRV
E3RGHUDFXGLU~QLFDPHQWHDODVVHVLRQHVGHO6HQDGR
F3RGHUDFXGLUDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRVGHO6HQDGR\DVXV&R
PLVLRQHV
(O 7UDWDGR GH 0DDVWULFKW HVWDEOHFLy XQ SULQFLSLR GH FRPSHWHQFLD HQWUH OD
8QLyQ(XURSHD\ORVGLIHUHQWHV(VWDGRVTXHODLQWHJUDQVHxDOHGLFKRSULQFLSLR
D(OGHVXEVLGLDULGDG
E(OGHVROLGDULGDG
F(OGHSURSRUFLRQDOLGDG
(QHO'HUHFKRGHOD8QLyQ(XURSHDFXiQGRHQWUDQHQYLJRUODV'LUHFWLYDV
FX\RVGHVWLQDWDULRVVHDQWRGRVORV(VWDGRV&RPXQLWDULRV"
D)HFKDGHVXSXEOLFDFLyQHQHO'LDULR2ILFLDOGHOD8QLyQ(XURSHD
F&XDQGRFDGD*RELHUQRORHVWLPHRSRUWXQR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
(QOD8QLyQ(XURSHDORV-XHFHVGHVX7ULEXQDOGH-XVWLFLDVRQHOHJLGRVSRU
D8QRSRUFDGD(VWDGRPLHPEUR
E(O3DUODPHQWR(XURSHR
F/D&RPLVLyQ(XURSHD
/RVFRPSRQHQWHVGHOyUJDQRGHHQODFHHQWUHODV8QLGDGHV1DFLRQDOHVGH
(XURSRO\OD2ILFLQD&HQWUDOGH(XURSROVRQGHVLJQDGRVSRU
E/D&RPLVLyQ(XURSHD\FDGD(VWDGRPLHPEURGH(XURSROFRQMXQWDPHQWH
F/D2ILFLQD&HQWUDOGH(XURSRO\FDGD(VWDGRPLHPEURGHFRP~QDFXHUGR
(QOD8QLyQ(XURSHDODFRPSHWHQFLDVREUHHOIXQFLRQDPLHQWRHVWUXFWXUD\
FRQWUROJOREDOGHODVGLVWLQWDVIXQFLRQHVGH(XURSROHVUHVSRQVDELOLGDGDVLJQDGDD
D(O3DUODPHQWR(XURSHR
F/D&RPLVLyQ(XURSHD
(OIXQFLRQDULRTXHVROLFLWDODEDMDHQOD$GPLQLVWUDFLyQSRUUHQXQFLDYROXQWDULD
D3XHGHDEDQGRQDUVXSXHVWRGHWUDEDMRVLQPiVUHTXLVLWRV
E'HEHKDFHUORSRUHVFULWR\VHUiDFHSWDGDH[SUHVDPHQWHSRUOD$GPLQLVWUDFLyQVDOYR
ODVH[FHSFLRQHVOHJDOHV
F4XHGDLQKDELOLWDGRSDUDLQJUHVDUGHQXHYRHQOD$GPLQLVWUDFLyQ
&yPRVHFODVLILFDQORVHPSOHDGRVS~EOLFRVVHJ~QOD/H\GHGH
DEULOGHO(VWDWXWR%iVLFRGHO(PSOHDGR3~EOLFR"
E)XQFLRQDULRVGHFDUUHUDSHUVRQDOHYHQWXDO\IXQFLRQDULRVLQWHULQRV
F)XQFLRQDULRVGLUHFWLYRVIXQFLRQDULRVGHFDUUHUD\SHUVRQDOODERUDO
'HSHQGLHQWHGHO6HFUHWDULRGH(VWDGRGH6HJXULGDGVHxDOHHOyUJDQRDOTXH
FRUUHVSRQGHHQWUHRWUDVIXQFLRQHVHOHVWDEOHFLPLHQWRGHFULWHULRVGHFRRUGLQDFLyQ
RSHUDWLYDGHORVVHUYLFLRVDFWXDQWHVHQORVVXSXHVWRVGHFRLQFLGHQFLDRFRQFXUUHQ
FLDHQODVLQYHVWLJDFLRQHV
D$O&RPLWp(MHFXWLYRSDUDHO0DQGR8QLILFDGRGHODV)XHU]DV\&XHUSRVGH6HJXULGDG
GHO(VWDGR&(08
E$O&HQWUR1DFLRQDOGH&RRUGLQDFLyQ$QWLWHUURULVWD&1&$
F$O&HQWURGH,QWHOLJHQFLDFRQWUDDO&ULPHQ2UJDQL]DGR&,&2
4XpUDQJRWLHQHOD2ILFLQDGH&RPXQLFDFLyQGHO0LQLVWHULRGHO,QWHULRU"
D'LUHFFLyQ*HQHUDO
F6HFUHWDUtD*HQHUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(35,0(5$
&XiOGHORVVLJXLHQWHVyUJDQRVQRGHSHQGHHQODDFWXDOLGDGGHOD6HFUHWD
UtDGH(VWDGRGH6HJXULGDG"
E/D'LUHFFLyQ*HQHUDOGH5HODFLRQHV,QWHUQDFLRQDOHV$[WUDQMHUtD
F/D'LUHFFLyQ*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDVKR\6HFUHWDUtD*HQHUDO
(QXQ0LQLVWHULRHOHQFDUJDGRGHODUHSUHVHQWDFLyQGHO'HSDUWDPHQWRHQ
ORV VXSXHVWRV HQ TXH DVt VH OR HQFRPLHQGH HO 0LQLVWUR \ GH GLULJLU ORV VHUYLFLRV
FRPXQHVGHO'HSDUWDPHQWRHV
D(O6HFUHWDULRGH(VWDGR
E(O6XEVHFUHWDULR
F(O6HFUHWDULR*HQHUDO
/D8QLGDGGHO&XHUSR1DFLRQDOGH3ROLFtDHQFDUJDGDGHODSURWHFFLyQ\DVLV
WHQFLDDODVYtFWLPDVGHODYLROHQFLDGHJpQHURVHLQFDUGLQD
D(QOD8QLGDGGH'HOLQFXHQFLD(VSHFLDOL]DGD\9LROHQWDGHOD&RPLVDUtD*HQHUDOGH
3ROLFtD-XGLFLDO
E(QOD8QLGDG&HQWUDOGH3DUWLFLSDFLyQ&LXGDGDQD\3URJUDPDVGHOD&RPLVDUtD*H
QHUDOGH6HJXULGDG&LXGDGDQD
F (Q OD 8QLGDG GH 3URWHFFLRQHV (VSHFLDOHV GH OD &RPLVDUtD *HQHUDO GH 6HJXULGDG
&LXGDGDQD
/RV VHUYLFLRV GH H[SHGLFLyQ GH ORV SDVDSRUWHV HQ HO &XHUSR 1DFLRQDO GH
3ROLFtDHVWiHQFRPHQGDGRD
D/D&RPLVDUtD*HQHUDOGH([WUDQMHUtD$URQWHUDV
E/D8QLGDGGH'RFXPHQWDFLyQGH(VSDxROHVGHSHQGLHQWHGHOD6XEGLUHFFLyQ*HQHUDO
GH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
8QIXQFLRQDULRHQVLWXDFLyQGHH[FHGHQFLDSRUFXLGDGRGHIDPLOLDUHVVXSHUD
ORVWUHVDxRVGHGXUDFLyQHQODPLVPDDTXpRWUDVLWXDFLyQDGPLQLVWUDWLYDSDVD"
E6HOHSXHGHQFRQFHGHURWURVWUHVDxRVHQODPLVPDVLWXDFLyQ
F$H[FHGHQFLDIRU]RVD
3DUDODVIDOWDVGLVFLSOLQDULDVFRPHWLGDVSRUIXQFLRQDULRVGHO&XHUSR1DFLR
QDOGH3ROLFtDXQDYH]TXHKDQVLGRFRPHWLGDVFXiQGRHPSLH]DDFRQWDUHOSOD]R
GHSUHVFULSFLyQ"
D$OGtDVLJXLHQWHGHGDUFXHQWDDOVXSHULRUMHUiUTXLFRGHODFRPLVLyQGHODIDOWD
F$SDUWLUGHOGtDHQTXHILQDOLFHHOH[SHGLHQWHGLVFLSOLQDULR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
(QHO5pJLPHQ'LVFLSOLQDULRGHO&XHUSR1DFLRQDOGH3ROLFtDHOSUHVFLQGLUGHO
FRQGXFWRUHJODPHQWDULRSDUDIRUPXODUFXDOTXLHUVROLFLWXGUHFODPDFLyQRTXHMDUH
ODFLRQDGDFRQHOVHUYLFLRDVtFRPRQRWUDPLWDUODVPLVPDVHVWiFDWDORJDGDFRPR
D)DOWDPX\JUDYH
E)DOWDJUDYH
F)DOWDOHYH
(QHO&XHUSR1DFLRQDOGH3ROLFtDGyQGHVHLQFDUGLQDOD8QLGDGGH$VXQWRV
,QWHUQRV"
D(QOD8QLGDGGH5pJLPHQ'LVFLSOLQDULR
(O&RQVHMRGH3ROLFtDHVWiSUHVLGLGRSRU
(QHO&XHUSR1DFLRQDOGH3ROLFtDTXLpQGHVHPSHxDODIXQFLyQGH6HFUHWD
ULRGHOD-XQWDGH*RELHUQR"
D(O6HFUHWDULR*HQHUDOGHOD'LUHFFLyQ$GMXQWD2SHUDWLYD
E(O-HIHGHOD'LYLVLyQGH)RUPDFLyQ\3HUIHFFLRQDPLHQWR
5HVSHFWRDODH[FHGHQFLDYROXQWDULDLQFHQWLYDGDTXpIXQFLRQDULRVSXHGHQ
VROLFLWDUOD"
D/RVTXHVHHQFXHQWUHQHQVLWXDFLyQGHH[FHGHQFLDIRU]RVDFRPRFRQVHFXHQFLDGH
XQ3ODQGH(PSOHR
E/RVIXQFLRQDULRVTXHFRPRPtQLPROOHYHQWUHVDxRVGHVHUYLFLRDFWLYR
F1LQJ~QIXQFLRQDULRODSXHGHVROLFLWDUSRUQRFRQWHPSODUODOH\HVDSRVLELOLGDG
6HJ~Q HO 5pJLPHQ 'LVFLSOLQDULR GHO &XHUSR 1DFLRQDO GH 3ROLFtD FXiQGR
HPSLH]DDFRPSXWDUVHHOSHUtRGRGHWLHPSRGHODSUHVFULSFLyQGHXQDIDOWD"
D'HVGHHOGtDHQTXHVHGLFWyVHQWHQFLDILUPH
E&XDQGRORILMHODOH\VLHPSUHTXHQRVHYXHOYDDGHOLQTXLU
(QHORUJDQLJUDPDGHOD'LUHFFLyQ*HQHUDOGHOD3ROLFtD\GHOD*XDUGLD&LYLO
H[LVWHXQyUJDQRFRQGHQRPLQDFLyQFRP~QHQDPERV&XHUSRVVHxiOHOR
D/D6XEGLUHFFLyQ*HQHUDOGH5HFXUVRV+XPDQRV
F/D6XEGLUHFFLyQ*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(35,0(5$
4XpyUJDQRGHHQWUHORVVLJXLHQWHVFRRUGLQDODVSROtWLFDVGHVHJXULGDG
S~EOLFDHQWUHHO*RELHUQR\ODV&RPXQLGDGHV$XWyQRPDV"
E/D-XQWDGH6HJXULGDG
F/D-XQWD/RFDOGH6HJXULGDG
(O DFWXDU HQ HO FXPSOLPLHQWR GH VXV IXQFLRQHV FRQ DEVROXWD QHXWUDOLGDG
SROtWLFDHLPSDUFLDOLGDG\HQFRQVHFXHQFLDVLQGLVFULPLQDFLyQDOJXQDSRUUD]yQGH
UD]DUHOLJLyQXRSLQLyQHVWiFRQWHQLGRHQHO3ULQFLSLR%iVLFRGH$FWXDFLyQGHODV
)XHU]DV\&XHUSRVGH6HJXULGDGUHODWLYRD
D5HODFLRQHVFRQODFRPXQLGDG
(QODV&RPXQLGDGHV$XWyQRPDVTXHGLVSRQJDQGH&XHUSRVGH3ROLFtDSUR
SLRVSRGUiFRQVWLWXLUVHXQyUJDQRLQWHJUDGRSRULJXDOQ~PHURGHUHSUHVHQWDQWHV
GHO(VWDGR\GHODV&RPXQLGDGHV$XWyQRPDVFRQODPLVLyQGHFRRUGLQDUODDFWXD
FLyQGHODV)XHU]DV\&XHUSRVGH6HJXULGDGGHO(VWDGR\GHORV&XHUSRVGH3ROLFtD
GHOD&RPXQLGDG$XWyQRPDHQORVWpUPLQRVTXHUHJODPHQWDULDPHQWHVHGHWHUPL
QHQFXiOHVODGHQRPLQDFLyQGHGLFKRyUJDQR"
E-XQWD/RFDOGH6HJXULGDG
F&RQVHMRGH3ROtWLFDGH6HJXULGDG
/DSHUVRQDFRQQDFLRQDOLGDGHVSDxRODRH[WUDQMHUDDGTXLULGDFRQSRVWH
ULRULGDGDODFRPLVLyQGHXQKHFKRGHOLFWLYRSRGUiVHUMX]JDGDHQ(VSDxDVLHP
SUH\FXDQGRVHGHQFLHUWRVUHTXLVLWRVVHxDOHHQWUHODVVLJXLHQWHVODUHVSXHVWD
FRUUHFWD
D 4XH HO DJUDYLDGR R HO 0LQLVWHULR )LVFDO GHQXQFLHQ R LQWHUSRQJDQ TXHUHOOD DQWH ORV
7ULEXQDOHVHVSDxROHV
E4XHHOGHOLQFXHQWHQRKD\DVLGRDEVXHOWRLQGXOWDGRRSHQDGRHQHOH[WUDQMHURRHQ
HVWH~OWLPRFDVRQRKD\DFXPSOLGRODFRQGHQD
&XDQGRHOTXHKDUHVXHOWRFRPHWHUXQGHOLWRLQYLWDDRWUDXRWUDVSHUVRQDV
DHMHFXWDUORVHGLFHTXHH[LVWH
D&RQVSLUDFLyQ
E3URSRVLFLyQ
F3URYRFDFLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
/RV UHTXLVLWRV SDUD OD VDQFLyQ GH ODV DFFLRQHV X RPLVLRQHV LPSUXGHQWHV
HVWiQFRQWHQLGRVHQHODUWtFXORGHO&yGLJRSHQDOYLJHQWHVHxDOHGHHQWUHODV
VLJXLHQWHVODUHVSXHVWDFRUUHFWD
E6LHPSUHVHUiQFDVWLJDGDVHQODVSHUVRQDVGHODXWRU\GHOFyPSOLFH
F/DOH\GLVSRQHH[SUHVDPHQWHTXHVyORVHFDVWLJDUiDODXWRUSHURQRDOFyPSOLFH
(O&yGLJRSHQDOQRFRQVLGHUDSHQDV
D/DPXOWDGHGLH]GtDVDGRVPHVHV
E/DGHWHQFLyQ\SULVLyQSUHYHQWLYD\ODVGHPiVPHGLGDVGHQDWXUDOH]DSHQDO
F/DPXOWDSRUFXRWDVRSURSRUFLRQDO
6HJ~QHO&yGLJRSHQDOHQXQKHFKRGHOLFWLYRVHUiQFRQVLGHUDGRVDXWRUHV
E/RVTXHFRRSHUDQDVXHMHFXFLyQFRQXQDFWRVLQHOFXDOQRVHKDEUtDHIHFWXDGR
6HJ~QOD&RQVWLWXFLyQDUWVHxDOHODUHVSXHVWDFRUUHFWDHQUHODFLyQ
FRQODMXULVGLFFLyQPLOLWDU\VXiPELWRGHDSOLFDFLyQ
D/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDV
WUHQVH\HQORVVXSXHVWRVGHHVWDGRGHDODUPDGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQV
WLWXFLyQ
E/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDV
WUHQVH\HQORVVXSXHVWRVGHHVWDGRGHVLWLRGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQVWLWX
FLyQ
F/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWHFDV
WUHQVH \ HQ ORV VXSXHVWRV GH HVWDGR GH H[FHSFLyQ GH DFXHUGR FRQ ORV SULQFLSLRV GH OD
&RQVWLWXFLyQ
D(O*RELHUQRDSURSXHVWDGHODV&RUWHV*HQHUDOHV
F(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQJUHVRGHORV'LSXWDGRV
/D/H\GH(QMXLFLDPLHQWR&ULPLQDOSUHFHSW~DTXHQRHVWiQREOLJDGRVDGH
QXQFLDUHOKHFKRGHOTXHWHQJDQFRQRFLPLHQWRSRUUD]yQGHVXRILFLRRFDUJRRELHQ
SRUSDUHQWHVFR
D(O$ERJDGR\HO3URFXUDGRU
E/RVKLMRVQDWXUDOHVUHVSHFWRGHOSDGUHHQWRGRFDVR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(35,0(5$
4Xp-XH]HVFRPSHWHQWHDQWHODSHWLFLyQGH+iEHDV&RUSXVSRUXQPHQRU
GHGHHGDG"
D(O-XH]GH0HQRUHV
E(O-XH]GH,QVWUXFFLyQGRQGHVHKXELHUHFRPHWLGRODDFFLyQGHOPHQRU
(O3UHVLGHQWHGHO7ULEXQDO6XSHULRUGH-XVWLFLDGHXQD&RPXQLGDG$XWyQRPD
ORHVWDPELpQGHOD6DOD
D'HOR&LYLO\3HQDO
E'HOR&RQWHQFLRVR$GPLQLVWUDWLYR
F'HOR6RFLDO
/DFRPLVLyQGHIDOWDVVHFDVWLJDUi
D6yORVLVRQFRQVXPDGDVH[FHSWRODVLQWHQWDGDVFRQWUDODVSHUVRQDVRHOSDWULPRQLR
TXHVHFDVWLJDUiQLQFOXVRHQJUDGRGHWHQWDWLYD
E1RVHFDVWLJDQHQQLQJ~QFDVR
F6LHPSUHEDVWDUiTXHVHDQLQWHQWDGDV
6HxDOHGHHQWUHODVVLJXLHQWHVODTXHVHDXQD)LVFDOtD(VSHFLDO
D/D)LVFDOtD$QWLGURJD
E/D)LVFDOtDFRQWUDOD&RUUXSFLyQ\OD&ULPLQDOLGDG2UJDQL]DGD
$XQGHWHQLGRLQFRPXQLFDGRSRUGHOLWRGHWHUURULVPRFRQTXpSDUWLFXODUL
GDGVHOHSXHGHWRPDUGHFODUDFLyQHQ&RPLVDUtD"
D&RQQLQJXQDHQHVSHFLDO\DTXHVXVGHUHFKRVVRQORVPLVPRVTXHFXDOTXLHUGHWH
QLGR
E6HWLHQHTXHSHUVRQDUHQ&RPLVDUtD REOLJDWRULDPHQWHHO-XH]RSHUVRQDHQTXLHQ
GHOHJXH
F4XHHOGHWHQLGRHQQLQJ~QFDVRSXHGHHOHJLU/HWUDGRTXHOHDVLVWD\DTXHSUHFHS
WLYDPHQWHVHOHQRPEUDGHRILFLRFRQHOTXHQRWHQGUiGHUHFKRDODHQWUHYLVWDUHVHUYDGD
WUDVVXGHFODUDFLyQ
&RQHOILQGHHYLWDUTXHXQGHOLQFXHQWHSXHGDUHDOL]DUGHOLWRVSRVWHULRUHV
HQXQDFDXVDHO-XH]FRPSHWHQWHSXHGHDGRSWDUXQDVHULHGHPHGLGDVFDXWHODUHV
TXpUHVSXHVWDHVODFRUUHFWD"
D4XHWHQJDUD]RQHVIXQGDGDVGHTXHVHSXHGHSRQHUHQSHOLJURHOSURFHVRSHQDOHQ
WUiPLWH
E4XHORVDQWHFHGHQWHVSHQDOHVGHOLQGLYLGXRVHDQGHVIDYRUDEOHV
F7DQVyORODVSXHGHDGRSWDUVLORSLGHHO0LQLVWHULR)LVFDO
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
(QEDVHDOD/H\2UJiQLFDGH0HGLGDVGH3URWHFFLyQ,QWHJUDOFRQWUDOD9LR
OHQFLDGH*pQHURVHxDOHFXiOGHORVVLJXLHQWHVRUJDQLVPRVSXHGHHMHUFLWDUDQWH
ORV 7ULEXQDOHV OD DFFLyQ GH FHVDFLyQ GH OD SXEOLFLGDG LOtFLWD SRU XWLOL]DU HQ IRUPD
YHMDWRULDODLPDJHQGHODPXMHU
D/D'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHURDVtFRPRHO0LQLVWHULR)LVFDO
E/DV$VRFLDFLRQHV TXH WHQJDQ SRU REMHWLYR~QLFR ODGHIHQVDGHORVLQWHUHVHV GHOD
PXMHU
(OSURSRQHUODSROtWLFDGHO*RELHUQRFRQWUDODYLROHQFLDVREUHODVPXMHUHV\
FRRUGLQDUHLPSXOVDUWRGDVODVPHGLGDVOOHYDGDVDFDERHQHVWDPDWHULDHVFRP
SHWHQFLD
E'HOD6HFUHWDUtD*HQHUDOGH3ROtWLFDVGH,JXDOGDG
F'HOD'LUHFFLyQ*HQHUDOFRQWUDOD'LVFULPLQDFLyQ
/DVYtFWLPDV GH YLROHQFLD GH JpQHURWLHQHQGHUHFKRDXQDSUHVWDFLyQSRU
GHVHPSOHRSURSRUFLRQDOD
D'LHFLRFKRPHVHVGHGXUDFLyQ
E'RFHPHVHVGHGXUDFLyQ
(QWUHODVPHGLGDVGHVHQVLELOL]DFLyQSUHYHQFLyQ\GHWHFFLyQGHOD9LROHQFLD
GH*pQHURGyQGHVHLQFDUGLQDOD&RPLVLyQFRQWUDOD9LROHQFLDGH*pQHUR"
D(QOD6HFUHWDUtD*HQHUDO7pFQLFDGHOD6HFUHWDUtDGH(VWDGRGH,JXDOGDG
E(QOD'HOHJDFLyQGHO*RELHUQRSDUDOD9LROHQFLDGH*pQHUR
4XpIRUPDOHJDOWRPDODQRUPDTXHSXHGHGLFWDUXQ-XH]HQUHODFLyQFRQOD
SURWHFFLyQDXQDPXMHUPDOWUDWDGD"
D6HQWHQFLD
E$XWR
F5HVROXFLyQ

32/,&$1$&,21$/(6&$/$%6,&$
E/DUHIRUPDFRQVWLWXFLRQDOODVFXHVWLRQHVLQWHUQDFLRQDOHVODVOH\HVRUJiQLFDV\
GHEDVHV\ORV3UHVXSXHVWRV*HQHUDOHVGHO(VWDGR
D5HDORYROXQWDULR
E9HLQWLFLQFRGtDV
D/DSHUVRQDPD\RUGHHGDG\HVSDxROUHQDFLPLHQWRTXHHQVXWHVWDPHQWRKXELH
VHQRPEUDGRHO5H\GLIXQWR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
F3RGHUDFXGLUDODVVHVLRQHVGHO&RQJUHVRGHORV'LSXWDGRVGHO6HQDGR\DVXV
&RPLVLRQHV
D(OGHVXEVLGLDULGDG
D8QMXH]SRUFDGD(VWDGRPLHPEUR
E'HEHKDFHUORSRUHVFULWR\VHUiDFHSWDGDH[SUHVDPHQWHSRUOD$GPLQLVWUDFLyQ
VDOYRODVH[FHSFLRQHVOHJDOHV
F$O&HQWURGH,QWHOLJHQFLDFRQWUDHO&ULPHQ2UJDQL]DGR
F/D'LUHFFLyQ*HQHUDOGH,QVWLWXFLRQHV3HQLWHQFLDULDV
E(O6XEVHFUHWDULR
E(QOD8QLGDG&HQWUDOGH3DUWLFLSDFLyQ&LXGDGDQD\3URJUDPDVGHOD&RPLVDUtD
*HQHUDOGH6HJXULGDG&LXGDGDQD
E /D 8QLGDG GH GRFXPHQWDFLyQ GH (VSDxROHV GHSHQGLHQWH GH OD VXEGLUHFFLyQ
*HQHUDOGH*HVWLyQ(FRQyPLFD7pFQLFD\'RFXPHQWDO
F)DOWDOHYH
F(QOD'LUHFFLyQDGMXQWD2SHUDWLYD
D/RVTXHVHHVWpQHQVLWXDFLyQGHH[FHGHQFLDIRU]RVDFRPRFRQVHFXHQFLDGHOD
DSOLFDFLyQGHXQ3ODQGH(PSOHR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(35,0(5$
E3URSRVLFLyQ
D6yORVHFDVWLJDUiQFXDQGRH[SUHVDPHQWHORGLVSRQJDOD/H\
E/DGHWHQFLyQ\SULVLyQSUHYHQWLYD\ODVGHPiVPHGLGDVFDXWHODUHVGHQDWXUDOH]D
SHQDO
E/DOH\UHJXODUiHOHMHUFLFLRGHODMXULVGLFFLyQPLOLWDUHQHOiPELWRHVWULFWDPHQWH
FDVWUHQVH\HQORVVXSXHVWRVGHHVWDGRGHVLWLRGHDFXHUGRFRQORVSULQFLSLRVGHOD&RQV
WLWXFLyQ
E(O5H\DSURSXHVWDGHO*RELHUQRRtGRHO&RQVHMRJHQHUDOGHO3RGHU-XGLFLDO
D'HOR&LYLO\3HQDO
D6yORVLVRQFRQVXPDGDVH[FHSWRODVLQWHQWDGDVFRQWUDODVSHUVRQDVRHOSDWUL
PRQLRTXHVHFDVWLJDUiQLQFOXVRHQJUDGRGHWHQWDWLYD
F4XHHOGHWHQLGRHQQLQJ~QFDVRSXHGHHOHJLU/HWUDGRTXHOHDVLVWD\DTXHSUH
FHSWLYDPHQWHVHOHQRPEUDGHRILFLRFRQHOTXHQRWHQGUiGHUHFKRDODHQWUHYLVWDUHVHUYDGD
WUDVVXGHFODUDFLyQ
D4XHWHQJDUD]RQHVIXQGDGDVGHTXHVHSXHGHSRQHUHQSHOLJURHOSURFHVRSHQDO
HQWUiPLWH
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(35,0(5$
E$XWR

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(,,
6,08/$&52'((;$0(1&2135(*817$66,0,/$5(6
$/$6'(/(;$0(12),&,$/'(/$&2192&$725,$
6(*81'$3$57(&,(1&,$662&,$/(6<0$7(5,$67e&1,&2&,(17),&$6
4XpFRQWHQLGRWLHQHHODUWtFXORGHOD'HFODUDFLyQGH'HUHFKRV+XPDQRV"
D7RGRLQGLYLGXRWLHQHGHUHFKRDODYLGD
E1DGLHHVWDUiVRPHWLGRDHVFODYLWXGRVHUYLGXPEUH
F7RGRVORVVHUHVKXPDQRVQDFHQOLEUHV
6HxDOHODUHVSXHVWDTXHVHFRUUHVSRQGHGHIRUPDFRUUHFWDFRQHO6XEFRPLWp
FRQWUDODWRUWXUD
D(VWiIRUPDGRSRUGLH]PLHPEURV\SXHGHDXPHQWDUKDVWDWUHLQWDVLVHUDWLILFDHOSUR
WRFRORSRUXQQ~PHURGHWHUPLQDGRVGH(VWDGRV
E7RGRVVXVPLHPEURVVRQSHUVRQDVFRQJUDQLQWHJULGDGPRUDO
F(VWiIRUPDGRH[FOXVLYDPHQWHSRUSHUVRQDVFRQODERUHVMXGLFLDOHVRSROLFLDOHV
/D HOHFFLyQ GH ORV MXHFHV GHO 7ULEXQDO GH -XVWLFLD (XURSHR GHO &RQVHMR GH
(XURSDVHOOHYDDFDERSRU
D/D$VDPEOHDSDUODPHQWDULDGHO&RQVHMRGH(XURSD
E/RV*RELHUQRVGHFDGD(VWDGRSDUWH
F(O&RPLWpGH0LQLVWURV\HO3DUODPHQWR(XURSHR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(6(*81'$
6HSXHGHUHFXUULUDQWHHO7ULEXQDO(XURSHRGH'HUHFKRV+XPDQRVFUHDGR
SRUHOFRQYHQLRGH5RPDGHXQDYLRODFLyQGHORVGHUHFKRVKXPDQRVFRPHWL
GDDSHUVRQDVGHDOJ~Q(VWDGRPLHPEURFXDQGRKDUHFDtGRVHQWHQFLDILUPHHQORV
WULEXQDOHVHVSDxROHV"
D6yORVLHVWiQDJRWDGRVWRGRVORVUHFXUVRVQDFLRQDOHV
E6LHPSUHTXHVHSUHVHQWHSRUHVFULWRODGHQXQFLD
F1XQFDSXHVWRTXH\DKDUHFDtGRVHQWHQFLDILUPH
(QOD'HFODUDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRVILUPDGDSRUODV1DFLR
QHV 8QLGDV HQ HVWi UHFRQRFLGD OD FRPXQLFDFLyQ JOREDO HQWUH SHUVRQDV D
WUDYpVGH,QWHUQHWRGHRWUDVUHGHVVLPLODUHV"
D1R\DTXHHVWDVWHFQRORJtDVQRH[LVWtDQHQHVDpSRFD
E6tPHGLDQWHXQDUWtFXORHOFXDOQRPEUDODVUHGHVJOREDOHV
F1RH[SUHVDPHQWH\VtDWUDYpVGHVXDUWtFXORFX\RFRQWHQLGRSURWHJHODOLEHUWDG
GHH[SUHVLyQSRUFXDOTXLHUPHGLRGHH[SUHVLyQ
6HSXHGHDSHODUDO7ULEXQDO(XURSHRGHORV'HUHFKRV+XPDQRVXQDPXHUWH
FDXVDGDSRUXQDJHQWHGHVHJXULGDGDOWUDWDUGHDERUWDUXQDLQVXUUHFFLyQ"
D6tSRUTXHHOGHUHFKRDODYLGDHVXQGHUHFKRIXQGDPHQWDOUHFRQRFLGRHQOD'HFOD
UDFLyQ8QLYHUVDOGHORV'HUHFKRV+XPDQRV
E1RSRUTXHHQHO&RQYHQLR(XURSHRGHORV'HUHFKRV+XPDQRVH[SUHVDPHQWHVHGLFH
TXHODPXHUWHSURGXFLGDHQHVWDVFLUFXQVWDQFLDVQRLQIULQJHGLFKR&RQYHQLR
F6tVHSXHGHUHFXUULUSHURVyORFXDQGRHVWDPXHUWHVHKD\DSURGXFLGRHQGHIHQVD
SURSLD
/DJOREDOL]DFLyQGHVGHXQSXQWRGHYLVWDLGHROyJLFRVXUJHGHVGH
D(OLQWHUYHQFLRQLVPRHVWDWDO
E(OSUDJPDWLVPRDPHULFDQR
F/DULTXH]DPDWHULDOFROHFWLYD
/RVJUXSRVTXHVHRSRQHQDODJOREDOL]DFLyQ\TXHFRQIRUPDQORTXHVHFRQRFH
FRPR0RYLPLHQWRVGH5HVLVWHQFLD*OREDOR$QWLJOREDOL]DFLyQWLHQHQHQFRP~QTXHVRQ
D0RYLPLHQWRVKRUL]RQWDOHV
E0RYLPLHQWRVPX\MHUDUTXL]DGRV
F5HGHVGHPRYLPLHQWRVYHUWLFDOHV
(OPRYLPLHQWRJOREDOL]DGRUKDWUDtGRFDPELRVHQPXFKRVDVSHFWRVGHODVR
FLHGDGHQORSROtWLFRHQORHFRQyPLFR\FRPHUFLDOHQORFXOWXUDOHWF6HxDOHOD
UHVSXHVWDTXHFRQWHQJDXQDVSHFWRTXHQRVHFRUUHVSRQGHDHVWRVFDPELRV
D/DLQWHUGHSHQGHQFLDHQWUHSDtVHV
E/DGLYHUVLILFDFLyQLQWHUQDFLRQDOGHPHUFDGRV
F)RPHQWRGHODVREHUDQtDGHORVSDtVHV

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(6(*81'$
(O SURFHVR GH OD JOREDOL]DFLyQ SUHVHQWD FRPR GLILFXOWDG R SDUWH QHJDWLYD
SDUDHOGHVDUUROORGHODHPSUHVDQDFLRQDO
D$XPHQWRGHODFRPSHWHQFLDHQWUHPHUFDGRV
E'LILFXOWDGHVHQHOWUDQVSRUWHGHPHUFDQFtDV
F%DMRVLQJUHVRVHFRQyPLFRVHQORVSDtVHVGHVDUUROODGRVGHELGRDOD*OREDOL]DFLyQ
/DLGHRORJtDQHROLEHUDOHVODLPSHUDQWHHQHODFWXDOSURFHVRGHJOREDOL]DFLyQ
GHPHUFDGRV(QHVWDLGHRORJtDODDFWLYLGDGHFRQyPLFDWLHQHXQDIXHUWHEDVHHQ
D/DLQWHUYHQFLyQGHO(VWDGR
E(OHVIXHU]RJOREDOGHODFROHFWLYLGDG
F(OEHQHILFLRLQGLYLGXDO
0DVORZHVWDEOHFLyXQDVHULHGHQHFHVLGDGHVDFXPSOLPHQWDUHQVRFLHGDG
GDQGRPD\RUSULRULGDGDXQDVTXHDRWUDV\HVWDEOHFLHQGRHOFRQFHSWRGHSUHSR
WHQFLDSDUDLQGLFDUTXHVyORWUDWDUHPRVGHFXPSOLPHQWDUODVQHFHVLGDGHVPHQRV
SHUHQWRULDVGHVSXpVGHKDEHUVDWLVIHFKRHQWRGRRHQSDUWHODVPiVLPSRUWDQWHV
(VWDVQHFHVLGDGHVHQIRUPDSLUDPLGDOHQRUGHQGHPiVDPHQRVQHFHVDULDVVRQ
D1HFHVLGDGHVILVLROyJLFDV\GHDXWRUUHDOL]DFLyQ
E1HFHVLGDGHVILVLROyJLFDVGHVHJXULGDGGHSHUWHQHQFLDDOJUXSR\GHDXWRUUHDOL]DFLyQ
F1HFHVLGDGHVILVLROyJLFDVGHVHJXULGDGGHDXWRUUHDOL]DFLyQ\GHUHFRQRFLPLHQWRGHO\R
3DUD(PLOH'XUNKHLPHQODVVRFLHGDGHVFRQVROLGDULGDGRUJiQLFDVHGDHOTXH
D7RGRVVXVFRPSRQHQWHVHVWiQHQFRQVWDQWHFRPSHWHQFLDSDUDFRQVHJXLUXQSXHVWR
GHWUDEDMR
E7RGRVVXVFRPSRQHQWHVKDFHQXQHVIXHU]RFROHFWLYRSHUPDQHQWHSDUDFRQVHJXLUORV
ILQHVVRFLDOHV
F([LVWDXQDJUDQFRQFLHQFLDFROHFWLYD
/RVHVWHUHRWLSRVGHILQLGRVFRPRLGHDVJHQHUDOHV\VLPSOLILFDGDVTXHDWUL
EXLPRVDXQJUXSRGHSHUVRQDVSRUHOVLPSOHKHFKRGHVXSHUWHQHQFLDDHVHJUXSR
HWLTXHWiQGRODVFRQFRQFHSWRVVLPSOHVWLHQHQFRPRFDUDFWHUtVWLFDV
D(VXQFRQFHSWRSRFRGXUDGHUR\FDPELDEOH
E6HDGTXLHUHGLUHFWDPHQWHPHGLDQWHODH[SHULHQFLD
F6HDGTXLHUHLQGLUHFWDPHQWH\HQODSULPHUDVRFLDOL]DFLyQ
6HxDOHODUHVSXHVWDTXHFRQWHQJDXQDWHRUtDVREUHHOFRQIOLFWRVRFLDOTXH
VHDFRLQFLGHQWHFRQHOFRQFHSWRTXHVXDXWRUWHQtDGHOPLVPR
D(OFRQIOLFWRQRVHUHVXHOYHFRQOXFKDSRUHOSRGHUORVYDORUHVHVWDWXV\UHFXUVRV
HVFDVRVVLQRFRQHOGLiORJR\ODSDUWLFLSDFLyQ/HYLV$&RVHU
E/DVRFLHGDGHVXQFRQMXQWRGHFODVHVVRFLDOHVFRQLQWHUHVHVDQWDJyQLFRV\HOFRQIOLF
WRVRFLDOVHWUDGXFHHQOXFKDGHFODVHV0DU[\(QJHOV
F(OFRQIOLFWRHVXQKHFKRVRFLDOSDUWLFXODU\QRQHFHVDULRTXHVHUHVXHOYDFRQHOFDP
ELRVRFLDO'DKUHQGRUI
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(6(*81'$
6HHQWLHQGHSRUOtGHUDTXHOODSHUVRQDDODTXHVLJXHQORVGHPiVSRUVXVHV
SHFLDOHVFDUDFWHUtVWLFDV&XiOGHODVVLJXLHQWHVGHWHUPLQDORTXHVHFRQRFHFRPR
OtGHUGHRSLQLyQ"
D&DULVPDSHUVRQDO
E(VSHFLDOLQIOXHQFLDHQODWRPDGHGHFLVLRQHVGHORVGHPiVSRUTXHVHOHUHFRQRFHXQ
PD\RUFRQRFLPLHQWRHQGHWHUPLQDGDPDWHULD
F(VSHFLDOFDSDFLGDGTXHSXHGHLQIOXLUHQHOGHVDUUROORGHORVUROHVGHVXJUXSR
&XDQGRXQDSHUVRQDGHVDUUROODVXVGLVWLQWRVUROHVVRFLDOHVGHPDQHUDFRQ
VHFXHQWH\FRRUGLQDGDPHQWHGHWDOPDQHUDTXHVHVLHQWHDFHSWDGRHQODVRFLHGDG
GRQGHVHHQFXHQWUDVHKDEODGH
D&RQIRUPLGDGSHUVRQDO
E,QWHJUDFLyQVRFLDO
F$GDSWDFLyQ
(Op[RGRUXUDOVHSXHGHFDWDORJDUFRPRXQWLSRGHPLJUDFLyQ
D(VWDFLRQDO
E(VSRQWiQHD
F'HH[LOLR
3DUDTXHXQLQPLJUDQWHVHSXHGDVHQWLULQWHJUDGRHQQXHVWUDVRFLHGDGHVWD
GHEH WHQHU FRPR PHWD TXH HQWUH OD SREODFLyQ DXWyFWRQD \ OD GH LQPLJUDQWHV VH
FRQVLJDXQJUDGRGHFRKHVLyQVRFLDO
D$OWD
E%DMD
F0HGLD
(Op[RGRUXUDOHVXQWLSRGHPLJUDFLyQTXHVHHVWiSURGXFLHQGRFRQVWDQWH
PHQWH\TXHFRQVLVWHHQODOOHJDGDDODFLXGDGGHSHUVRQDVSURFHGHQWHVGH]RQDV
UXUDOHV&XiOHVODUD]yQIXQGDPHQWDOGHODH[LVWHQFLDGHHVWHIHQyPHQRPLJUDWR
ULR"
D(QFDUHFLPLHQWRGHORVDOLPHQWRVHQ]RQDVUXUDOHV
E&RQIOLFWRVVRFLDOHVHQORVQ~FOHRVUXUDOHV
F0D\RUGLYHUVLILFDFLyQGHOHPSOHRHQODVFLXGDGHV
3DUDTXHODLQWHJUDFLyQGHLQPLJUDQWHVHQQXHVWUDVRFLHGDGVHKDJDGHXQD
IRUPDHIHFWLYDVHGHEHSRWHQFLDUIXQGDPHQWDOPHQWH
D4XHPDQWHQJDQSOHQDPHQWHVXFXOWXUDHLGHQWLGDG
E(OFRPSDUWLUHVSDFLRV\DFWLYLGDGHV
F/DVHJUHJDFLyQKDFLDEDUULRVSHULIpULFRVFRQIRUPDFLyQGHJXHWRV

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(6(*81'$
&yPRGHEHVHUODLQWHJUDFLyQGHXQLQPLJUDQWHSDUDTXHODVRFLHGDGOOHJXH
DYHUORFRPRXQDSHUVRQDWRWDOPHQWHDFHSWDGDSRUODVRFLHGDGGHDFRJLGD"
D'HEHSURGXFLUVHXQDHQGRFXOWXUDFLyQ
E'HEHFRQVLVWLUHQXQDDVLPLODFLyQH[WHUQDDXQTXHHQVXLQWHULRUPDQWHQJDVXVSUR
SLRVUDVJRVFXOWXUDOHV
F/DDVLPLODFLyQFXOWXUDOGHEHVHUIXQGDPHQWDOPHQWHLQWHULRU
&yPRVHGHQRPLQDODFLHQFLDTXHHVWXGLDHOGHVDUUROORGHODSREODFLyQHQ
XQGHWHUPLQDGRHVSDFLR"
D'HPRJUDItDWHUULWRULDO
E*HRJUDItDGHODSREODFLyQ
F'LVWULEXFLyQHVSDFLDOGHODSREODFLyQ
$OSURFHVRGHDFXPXODFLyQGHQXWULHQWHVTXHKDFHQFUHFHUH[FHVLYDPHQWH
DOJDVHQDJXDGXOFH\SDQWDQRVHYLWDQGRHOWUDQVSRUWHGHR[tJHQRTXHGLILFXOWDOD
YLGDDQLPDOHQHVHOXJDUVHOHOODPD
D/LRILOL]DFLyQ
E(XWURIL]DFLyQ
F$OFDOLQL]DFLyQ
4XpQRPEUHUHFLEHHOGDWRTXHVHUHILHUHDODVSHUVRQDVHQIHUPDVRYtFWL
PDVGHXQDHQIHUPHGDGHQXQOXJDU\WLHPSRGHWHUPLQDGRV"
D7DVDVDQLWDULD
E0RUELOLGDG
FQGLFHGHVDOXGS~EOLFD
&yPRVHGHQRPLQDODFLHQFLDTXHHVWXGLDHVWDGtVWLFDPHQWHODGLQiPLFDOD
HVWUXFWXUD\ORVPRYLPLHQWRVGHSREODFLyQ"
D6RFLRORJtD
E'HPRJUDItD
F'HPRVFRSLD
6HJ~Q0HUWRQDTXHOODLQDGDSWDFLyQDOPHGLRHQHOTXHODSHUVRQDUHFKD]D
WDQWRORVILQHVFRPRORVPHGLRVVRFLDOHVSDUDDOFDQ]DUORVVHWUDWDGHXQWLSRGH
LQFRQIRUPLVPRGHQRPLQDGR
D,QQRYDFLyQ
E5HEHOLyQ
F(YDVLyQ
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(6(*81'$
.UHWFKPHUHVWDEOHFLyXQDELRWLSRORJtDGHOLFWLYDTXHVHHQFXDGUDGHQWURGH
ODVWHRUtDVELROyJLFDVUHODFLRQDQGRODPRUIRORJtDGHXQDSHUVRQDFRQVXVWHQGHQ
FLDVItVLFDVHVWDEOHFLHQGRORVVLJXLHQWHVJUXSRV
D(FWRPRUIRVDVWpQLFRV\PHVRPRUIRV
E$VWpQLFRVStFQLFRV\DWOpWLFRV
F(FWRPRUIRVHQGRPRUIRV\PHVRPRUIRV
6HJ~QODWHRUtDGHOLFWLYDGHWLSRVRFLROyJLFRGH6XWKHUODQGOODPDGDGHORV
FRQWDFWRVGLIHUHQFLDOHV
D/DFRQGXFWDFULPLQDOHVDSUHQGLGD\UHVXOWDGRGHGLIHUHQFLDOGHQRUPDVFULPLQDOHV\
QRFULPLQDOHV
E(VODIDPLOLD ODTXHWUDQVPLWH YDORUHVSHUMXGLFLDOHVSDUDODVRFLHGDGHQLQGLYLGXRV
GHOLQFXHQWHV
F/DFRQGXFWDFULPLQDOHVWiGHWHUPLQDGDSRUODSURSLDSHUVRQDOLGDGGLIHUHQWHGHFDGD
LQGLYLGXR
/DVFRQGXFWDVGHOLFWLYDVTXHVHUHDOL]DQGHIRUPDHVSRUiGLFD\FLUFXQVWDQ
FLDOVLQTXHYXHOYDQDUHSHWLUVHDORODUJRGHODYLGDGHOLQIUDFWRUHVODGHILQLFLyQ
TXHGDXQDWHRUtDVRFLROyJLFDLQGLTXHODWHRUtDGHTXHVHWUDWD
D7HRUtDGHODDVRFLDFLyQGLIHUHQFLDO
E7HRUtDGHODDQRPLD
F7HRUtDVLWXDFLRQDO
&yPRVHGHQRPLQDWDPELpQDODGURJDFRQRFLGDFRPR/6'"
D'LHWLODPLGDGHOiFLGROLVpUJLFR
E'LDFHWLOPRUILQD
FFLGRGLDFHWLOVDOLFtOLFR
'HGyQGHVHH[WUDHHOiFLGROLVpUJLFR"
D'HOSH\RWH
E'HOFRUQH]XHORGHOFHQWHQR
F'HOKRQJR3VLORFLEHV
/D GURJD FRQRFLGD FRPR )HQFLFOLGLQD HQ HO iPELWR FLHQWtILFR VH FRQRFH
SRSXODUPHQWHFRPR
D(9$
E3&3RSROYRGHiQJHO
F3tOGRUDGHODPRU

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(6(*81'$
4XpVXVWDQFLDVHLGHQWLILFDFRQODGURJDFRQRFLGDFRPR6SHFLDO."
D.HWULGULQD
E.HURFULVWDO
F.HWDPLQD
(QTXpFRQVLVWHHOIHQyPHQRGHWROHUDQFLDFUX]DGD"
D(VODWROHUDQFLDTXHVHSURGXFHHQXQDSHUVRQDTXHFRQVXPHH[FHVLYDPHQWHXQWLSR
GHGURJD
E(VODWROHUDQFLDDXQDGURJDGLIHUHQWHSRUFRQVXPRDJXGRRKDELWXDOGHRWUDGURJD
F(VODDSDULFLyQGHGRVRPiVWROHUDQFLDVDGURJDVGLIHUHQWHV
4XpGHVYHQWDMDSUHVHQWDXQDVHxDOGLJLWDOHQUHODFLyQFRQXQDVHxDODQD
OyJLFD"
D/DGLJLWDOUHTXLHUHXQPD\RUDQFKRGHEDQGDTXHODDQDOyJLFD
E$ODVHxDOGLJLWDOOHDIHFWDQPiVORVUXLGRV
F/DUHSHUFXVLyQGHORVIHQyPHQRVDWPRVIpULFRVHQXQDVHxDOGLJLWDOHVPD\RUTXHHQ
XQDVHxDODQDOyJLFD
4XpQRPEUHUHFLEHHOPRYLPLHQWROLEUHGHHOHFWURQHVSRUXQFRQGXFWRUHQ
XQDVRODGLUHFFLyQSRUXQLGDGGHWLHPSR"
D7HQVLyQ
E5HVLVWHQFLD
F,QWHQVLGDG
/RVFRPSRQHQWHVHOHFWUyQLFRVVHJ~QVXHVWUXFWXUDItVLFDVHFODVLILFDQHQ
D'LVFUHWRVHLQWHJUDGRV
E6HPLFRQGXFWRUHV\SDVLYRV
F'LVFUHWRV\XQLWDULRV
&yPRVHFODVLILFDQORVPpWRGRVGHWUDQVPLVLyQSRUPHGLRVQRJXLDGRV"
D6HPLG~SOH[\KDOIG~SOH[
E&DEOHHOpFWULFR\ILEUDySWLFD
F'LUHFFLRQDO\RPQLGLUHFFLRQDO
([LVWHQGLVWLQWRVWLSRVGHPHPRULDTXHQRVRQFLUFXLWRVLPSUHVRVQRHVWiQ
IRUPDGDVSRUFKLSVGHPHPRULDQLVRQPHPRULDVItVLFDV8QDGHHOODVVRQODVGH
SDJLQDFLyQTXH HQ:LQGRZVDOVH UHDOL]DQDWUDYpVGHXQILFKHUROODPDGR
:LQVZS\HQ:LQGRZV\;3VHOODPD3DJH)LOH6\V&yPRVHGHQRPLQD
HVWHWLSRGHPHPRULD"
D520
E&DFKp
F9LUWXDO
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(6(*81'$
(OVLVWHPDGHFDQDOHVH[LVWHQWHVHQXQFLUFXLWRLPSUHVRSRUGRQGHFLUFXODQ
ODVVHxDOHVHQWUHFRPSRQHQWHVGHXQDSODFDEDVHVHGHQRPLQD
D6ORWV
E&KLSVHWV
F%XVHV
&yPRVHSXHGHVHOHFFLRQDUHQ0LFURVRIW:RUGWRGRHOWH[WRGHXQGRFX
PHQWR"
D3XOVDPRVODWHFOD&75/\KDFHPRVFOLFVREUHHOPDUJHQL]TXLHUGRGHOGRFXPHQWR
E3XOVDPRVODVWHFODV$/7\&75/\KDFHPRVFOLFHQHOPDUJHQL]TXLHUGRGHOGRFXPHQWR
F3XOVDPRVODWHFOD$/7\KDFHPRVFOLFHQHOPDUJHQL]TXLHUGRGHOGRFXPHQWR
(QHOHGLWRUGHWH[WR0LFURVRIW:RUGODRSFLyQGHSHJDGRHVSHFLDOHQ:RUG
VHHQFXHQWUDHQODEDUUDGHPHQ~VHQ
D$UFKLYR
E,QVHUWDU
F(GLFLyQ
(QHOHGLWRUGHWH[WR0LFURVRIW:RUGTXpVLJQLILFDHOTXHDFRQWLQXDFLyQGHO
QRPEUHGHXQDRSFLyQGHXQPHQ~DSDUH]FDQWUHVSXQWRVVHJXLGRV
D4XHHVDRSFLyQHVWiGHVKDELOLWDGD
E6HHQFXHQWUDDELHUWDHVDRSFLyQ
F4XHVLVHVHOHFFLRQDHVDRSFLyQDFRQWLQXDFLyQVHDEULUiXQFXDGURGHGLiORJR
4XpRSFLyQKD\TXHHVFRJHUGHQWURGHXQPHQ~GH0LFURVRIW:RUGSDUD
HOLPLQDUXQWH[WRTXHVHHQFXHQWUDDOPDFHQDGRHQHO3RUWDIROLRVGH:RUG"
D&RUWDU
E(OLPLQDU
F3HJDU
&yPRVHGHQRPLQDODOLFHQFLDTXHGRFXPHQWDDORVHVSDxROHV\H[WUDQMH
URVODVDUPDVGHFRQFXUVRSDUDWLURGHSRUWLYR"
D%
E'
F)
6HxDOHXQDFDUDFWHUtVWLFDTXHHVSURSLDGHOVLVWHPD/HIDXFKHDX[
D4XHHOVLVWHPDGHSHUFXVLyQHVWiFRQWHQLGRHQODSURSLDYDLQD
E4XHHOIXOPLQDQWHVHLQWURGXFHHQHOUHERUGHVDOLHQWHGHOFXORWH
F4XHVXSHUFXVLyQHVFHQWUDO

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(6(*81'$
&yPRVHGHQRPLQDDOVLVWHPDFX\RFDUWXFKRHQVXYDLQDFRQWLHQHHO\XQ
TXHQHFHVDULRSDUDTXHODPH]FODLQLFLDGRUDHVWDOOHDODFFLRQDUHOSHUFXWRU"
D/H)DXOH
E%HUGDQ
F%R[HU
6HxDOHXQDGHODVUHVSXHVWDVVLJXLHQWHVTXHFRQWLHQHODGHVFULSFLyQGHXQ
DUPDTXHQRHVWiSURKLELGD
D8QDDUPDGHJDVRDLUHFRPSULPLGRFRPELQDGDFRQDUPDEODQFD
E8QEDVWyQHQFX\RLQWHULRUJXDUGDXQDUPD
F8QDUPDGHOVLVWHPD)OREHUW
4XpGLIHUHQFLDH[LVWHHQWUHODSHUFXVLyQDQXODUEDVDGDHQHOVLVWHPD)OR
EHUWFRQUHVSHFWRDODSHUFXVLyQFHQWUDO"
D(QODSHUFXVLyQDQXODUODPH]FODIXOPLQDQWHVHHQFXHQWUDHQHOLQWHULRUGHOUHERUGH
GHODSURSLDYDLQD
E(QODSHUFXVLyQFHQWUDOQRSHUPLWHXQDXPHQWRGHODUHVLVWHQFLDGHODYDLQD
F/DYDLQDGHSHUFXVLyQDQXODUSHUPLWHPD\RUFDUJDTXHODGHSHUFXVLyQFHQWUDO
32/,&$1$&,21$/(6&$/$%6,&$

E1DGLHHVWDUiVRPHWLGRDHVFODYLWXGRVHUYLGXPEUH
E7RGRVVXVPLHPEURVVRQSHUVRQDVFRQJUDQLQWHJULGDGPRUDO
D/D$VDPEOHDSDUODPHQWDULDGHO&RQVHMRGH(XURSD
D6yORVLHVWiQDJRWDGRVWRGRVORVUHFXUVRVQDFLRQDOHV
F1RH[SUHVDPHQWH\VtDWUDYpVGHVXDUWtFXORFX\RFRQWHQLGRSURWHJHODOLEHU
WDGGHH[SUHVLyQSRUFXDOTXLHUPHGLRGHH[SUHVLyQ
E1RSRUTXHHQHO&RQYHQLR(XURSHRGHORV'HUHFKRV+XPDQRVH[SUHVDPHQWHVH
GLFHTXHODPXHUWHSURGXFLGDHQHVWDVFLUFXQVWDQFLDVQRLQIULQJHGLFKR&RQYHQLR
E(OSUDJPDWLVPRDPHULFDQR
D0RYLPLHQWRVKRUL]RQWDOHV
F)RPHQWRGHODVREHUDQtDGHORVSDtVHV
D$XPHQWRGHODFRPSHWHQFLDHQWUHPHUFDGRV
F(OEHQHILFLRLQGLYLGXDO
E1HFHVLGDGHVILVLROyJLFDVGHVHJXULGDGGHSHUWHQHQFLDDOJUXSR\GHDXWRUUHD
OL]DFLyQ
D 7RGRV VXV FRPSRQHQWHV HVWiQ HQ FRQVWDQWH FRPSHWHQFLD SDUD FRQVHJXLU XQ
SXHVWRGHWUDEDMR
32/,&$1$&,21$/(6&$/$%6,&$

7(67'((;$0(13$57(6(*81'$
F6HDGTXLHUHLQGLUHFWDPHQWH\HQODSULPHUDVRFLDOL]DFLyQ
E/DVRFLHGDGHVXQFRQMXQWRGHFODVHVVRFLDOHVFRQLQWHUHVHVDQWDJyQLFRV\HO
FRQIOLFWRVRFLDOVHWUDGXFHHQOXFKDGHFODVHV0DU[\(QJHOV
E(VSHFLDOLQIOXHQFLDHQODWRPDGHGHFLVLRQHVGHORVGHPiVSRUTXHVHOHUHFRQRFH
XQPD\RUFRQRFLPLHQWRHQGHWHUPLQDGDPDWHULD
F$GDSWDFLyQ
F'HH[LOLR
D$OWD
F0D\RUGLYHUVLILFDFLyQGHOHPSOHRHQODVFLXGDGHV
E(OFRPSDUWLUHVSDFLRV\DFWLYLGDGHV
F/DDVLPLODFLyQFXOWXUDOGHEHVHUIXQGDPHQWDOPHQWHLQWHULRU
E*HRJUDItDGHODSREODFLyQ
E(XWURIL]DFLyQ
E0RUELOLGDG
E'HPRJUDItD
F(YDVLyQ
E$VWpQLFRVStFQLFRV\DWOpWLFRV
D/DFRQGXFWDFULPLQDOHVDSUHQGLGD\UHVXOWDGRGHGLIHUHQFLDOGHQRUPDVFULPLQD
OHV\QRFULPLQDOHV
F7HRUtDVLWXDFLRQDO
D'LHWLODPLGDGHOiFLGROLVpUJLFR
E'HOFRUQH]XHORGHOFHQWHQR
E3&3RSROYRGHiQJHO
F.HWDPLQD
E(VODWROHUDQFLDDXQDGURJDGLIHUHQWHSRUFRQVXPRDJXGRRKDELWXDOGHRWUD
GURJD

32/,&$1$&,21$/(6&$/$%6,&$
7(67'((;$0(13$57(6(*81'$
F/DUHSHUFXVLyQGHORVIHQyPHQRVDWPRVIpULFRVHQXQDVHxDOGLJLWDOHVPD\RUTXH
HQXQDVHxDODQDOyJLFD
F,QWHQVLGDG
D'LVFUHWRVHLQWHJUDGRV
F'LUHFFLRQDO\RPQLGLUHFFLRQDO
F9LUWXDO
F%XVHV
D3XOVDPRVODWHFOD&75/\KDFHPRVFOLFVREUHHOPDUJHQL]TXLHUGRGHOGRFXPHQWR
F(GLFLyQ
F4XHVLVHVHOHFFLRQDHVDRSFLyQDFRQWLQXDFLyQVHDEULUiXQFXDGURGHGLiORJR
F3HJDU
F)
D4XHHOVLVWHPDGHSHUFXVLyQHVWiFRQWHQLGRHQODSURSLDYDLQD
E%HUGDQ
F8QDUPDGHOVLVWHPD)OREHUW
D(QODSHUFXVLyQDQXODUODPH]FODIXOPLQDQWHVHHQFXHQWUDHQHOLQWHULRUGHOUH
ERUGHGHODSURSLDYDLQD
32/,&$1$&,21$/(6&$/$%6,&$

2WUDVSXEOLFDFLRQHVGHLQWHUpV
GH(GLWRULDO0$'
3ROLFtD1DFLRQDO(VFDOD%iVLFD7HPDULR9ROXPHQ,
3ROLFtD1DFLRQDO(VFDOD%iVLFD7HPDULR9ROXPHQ,,
3ROLFtD1DFLRQDO(VFDOD%iVLFD6LPXODFURVGH([DPHQ9ROXPHQ,
3ROLFtD1DFLRQDO(VFDOD%iVLFD6LPXODFURVGH([DPHQ9ROXPHQ,,
3ROLFtD1DFLRQDO(VFDOD%iVLFD7HPDULRDEUHYLDGRSDUDUHSDVR
3ROLFtD1DFLRQDO(VFDOD%iVLFD(MHUFLFLRV3VLFRWpFQLFR\GH3HUVR
QDOLGDG
,QVSHFWRUHVGHO&XHUSR1DFLRQDOGH3ROLFtD7HPDULR&LHQFLDV-XUt
GLFDV9ROXPHQ,
,QVSHFWRUHVGHO&XHUSR1DFLRQDOGH3ROLFtD7HPDULR&LHQFLDV-XUt
GLFDV9ROXPHQ,,
,QVSHFWRUHVGHO&XHUSR1DFLRQDOGH3ROLFtD7HPDULR&LHQFLDV6R
FLDOHV9ROXPHQ,,,
,QVSHFWRUHVGHO&XHUSR1DFLRQDOGH3ROLFtD7HVW\&DVRV3UiFWLFRV
2ILFLDOHVGHO&XHUSR1DFLRQDOGH3ROLFtD7HVW\&DVRV3UiFWLFRV
3ROLFtD/RFDO7HPDULR*HQHUDO
3ROLFtD/RFDO7HVWGHOWHPDULRJHQHUDO
3ROLFtD/RFDO6XSXHVWRV3UiFWLFRV
&XHVWLRQDULRV3VLFRWpFQLFRVSDUDODV)XHU]DV\&XHUSRVGH6HJXUL
GDGGHO(VWDGR
&XHVWLRQDULR3VLFRWpFQLFR(MHUFLFLRV3UiFWLFRV
3UXHEDV3VLFRWpFQLFDV
&RQVWLWXFLyQ(VSDxROD&XHVWLRQDULR\FDVRVSUiFWLFRVSDUDRSRVL
FLRQHV
/D&RQVWLWXFLyQ(VSDxRODGH
(VWXGLRGHOD&RQVWLWXFLyQ(VSDxROD\GHO3URFHGLPLHQWR$GPLQLV
WUDWLYRSDUDSHUVRQDVVLQFRQRFLPLHQWRVMXUtGLFRV
/H\ GH 5pJLPHQ -XUtGLFR GH ODV $GPLQLVWUDFLRQHV 3~EOLFDV \ GHO
3URFHGLPLHQWR$GPLQLVWUDWLYR&RP~Q7HVWFRPHQWDGRVSDUDRSR
VLFLRQHV
/H\GH2UJDQL]DFLyQ\)XQFLRQDPLHQWRGHOD$GPLQLVWUDFLyQ*HQH
UDOGHO(VWDGR/2)$*(7HVW
5HJODPHQWR3HQLWHQFLDULR&RPHQWDGR
'LFFLRQDULR3URFHVDO%iVLFR
3UXHEDV)tVLFDVSDUDRSRVLFLRQHV'HVDUUROORWHyULFR\SURJUDPD
FLyQSUiFWLFDGHODVSUXHEDV
,QIRUPiWLFDSUiFWLFDSDUDRSRVLFLRQHV
,QWHUQHW/D5HGFRQPD\~VFXODV
7UDWDPLHQWRGH7H[WRV&RQFHSWRVWHyULFRV(MHUFLFLRV3UiFWLFRV
7UDWDPLHQWRGH7H[WRV3UXHEDVWHyULFRSUiFWLFDVSDUDRSRVLFLRQHV
:RUGSDUDRSRVLFLRQHV
:RUGSDUDRSRVLFLRQHV
3DUDPiVLQIRUPDFLyQVREUHHVWDXRWUDVREUDVOHUHFRPHQGDPRV
ODFRQVXOWDGHQXHVWUDSiJLQDZHE
ZZZPDGHV
$&78$/,=$&,1
(6&$/$%6,&$'(/$
32/,&$1$&,21$/
7(67

$QWHFXDOTXLHUFDPELRHQODFRQYRFDWRULDRDSDULFLyQ
GHQRUPDWLYDVTXHDIHFWHQHOFRQWHQLGRGHVDUUROODGRHQHO
SUHVHQWHYROXPHQKDVWDODIHFKDGHODSXEOLFDFLyQGHOD
FRQYRFDWRULDRHQVXGHIHFWRFRPRPi[LPRXQDxRGHVGHOD
IHFKDGHHGLFLyQGHOWH[WRSXHGHDFFHGHUDQXHVWUDSiJLQD
ZHE ZZZPDGHVVHUYLFLRVDGLFLRQDOHV GRQGH HQFRQ
WUDUiRSRUWXQD\SXQWXDOLQIRUPDFLyQDFHUFDGHORVPLVPRV

Test Por Tema

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Test Por Tema

Uploaded by

Copyright:

Available Formats

32/,&$1$&,21$/

Servicios de Editorial MAD por internet

EL AULA VIRTUAL DE EDITORIAL MAD

Cursos por internet

Personal: Con un Tutor personal que te guiar el estudio en funcin de tu evolucin y

Si dispones de internet, e-duforma online es el apoyo

Solicita GRATIS informacin del curso que te interesa

Servicios de suscripcin gratuita

Recuerda consultar nuestra web:

7HVW Q 3URFHVDGRUGHWH[WRV0LFURVRIW:RUGHOHPHQWRVEiVLFRVHOD\XGDQWH

6HxDOH VL H[LVWH DOJ~Q GHOLWR GH HQWUH ORVVLJXLHQWHVTXHQRSXHGDVHU

(OUXSR(VSHFLDOGH2SHUDFLRQHV(2GHO&XHUSR1DFLRQDOGH3ROLFtDGH

/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3WLHQHQHQWUHVXVPLVLRQHVODGH

D8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ83$3

(VTXL]RIUHQLDV SDUDQRLDV GHPHQFLDV ROLJRIUHQLDV HWF VRQ PRWLYRV GH

(OHOHPHQWR TXH EDViQGRVH HQ ODVSURSLHGDGHVGHORVVHPLFRQGXFWRUHV

You might also like

Test Por Tema

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Test Por Tema

Uploaded by

Copyright:

Available Formats

32/,&$1$&,21$/

Servicios de Editorial MAD por internet

EL AULA VIRTUAL DE EDITORIAL MAD

Cursos por internet

Personal: Con un Tutor personal que te guiar el estudio en funcin de tu evolucin y

Si dispones de internet, e-duforma online es el apoyo

Solicita GRATIS informacin del curso que te interesa

Servicios de suscripcin gratuita

Recuerda consultar nuestra web:

7HVW Q 3URFHVDGRUGHWH[WRV0LFURVRIW:RUGHOHPHQWRVEiVLFRVHOD\XGDQWH

6HxDOH VL H[LVWH DOJ~Q GHOLWR GH HQWUH ORVVLJXLHQWHVTXHQRSXHGDVHU

(O*UXSR(VSHFLDOGH2SHUDFLRQHV *(2 GHO&XHUSR1DFLRQDOGH3ROLFtDGH

/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO 8,3 WLHQHQHQWUHVXVPLVLRQHVODGH

D 8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ 83$3 

 (VTXL]RIUHQLDV SDUDQRLDV GHPHQFLDV ROLJRIUHQLDV HWF VRQ PRWLYRV GH

(OHOHPHQWR TXH EDViQGRVH HQ ODVSURSLHGDGHVGHORVVHPLFRQGXFWRUHV

You might also like

7HVW Q 3URFHVDGRUGHWH[WRV0LFURVRIW:RUGHOHPHQWRVEiVLFRVHOD\XGDQWH

6HxDOH VL H[LVWH DOJ~Q GHOLWR GH HQWUH ORVVLJXLHQWHVTXHQRSXHGDVHU

(OUXSR(VSHFLDOGH2SHUDFLRQHV(2GHO&XHUSR1DFLRQDOGH3ROLFtDGH

/DV8QLGDGHVGH,QWHUYHQFLyQ3ROLFLDO8,3WLHQHQHQWUHVXVPLVLRQHVODGH

D8QLGDGHVGH3UHYHQFLyQ$VLVWHQFLD\3URWHFFLyQ83$3

(VTXL]RIUHQLDV SDUDQRLDV GHPHQFLDV ROLJRIUHQLDV HWF VRQ PRWLYRV GH

(OHOHPHQWR TXH EDViQGRVH HQ ODVSURSLHGDGHVGHORVVHPLFRQGXFWRUHV