gZfgh]hijhs_b\[hevrbgkl\_kemqZ_\iha\heyxlijhba\h^blvwnn_dlb\guc
ZgZebakljmdlmjuaZ\bkbfhkl_cijh]jZffu
?keb\_jrbgZf]jZnZkhhl\_lkl\mxlhl^_evgu_kjZ[Zlu\Zgbyhi_jZlhjh\ijh
]jZffulhlZdhc]jZngZau\Z_lkybgnhjfZpbhgghcbklhjb_c\uiheg_gbyijh
]jZffu BgnhjfZpbhggZy bklhjbykh^_j`bl fZdkbfZevgh ih^jh[gmxbgnhj
fZpbxhkljmdlmj_bgnhjfZpbhgguoaZ\bkbfhkl_cZgZebabjm_fhcijh]jZffu
ihwlhfmbf_ggh hgZ bkihevam_lkyijb ZgZeba_ ijh]jZffkp_evxjZkiZjZee_
eb\ZgbyH^gZdhkeh`ghklvZgZebaZlZdh\Zqlh_keb\ijhkluokemqZyofh`gh
ihkljhblv b ijhZgZebabjh\ZlvihemqZxsbcky]jZn \jmqgmxlh ^ey[hevrbo
j_Zevguoijh]jZffg_h[oh^bfubgkljmf_glZevgu_ijh]jZffgu_kj_^kl\Z
2. Bkihevah\Zgb_iZjZee_ebafZ
Ij_^iheh`bfl_i_jvqlhfugZmqbebkvdZdbf-lhh[jZahfkljhblvbbkke_^h
\Zlv bgnhjfZpbhggmx bklhjbx \uiheg_gby ijh]jZffu <u^_eb\ \ g_c fgh
`_kl\ZbgnhjfZpbhgghg_aZ\bkbfuohi_jZpbcijboh^bfd\hijhkmdZdbf`_
h[jZahfjZkij_^_eylvwlbfgh`_kl\Zf_`^mijhp_kkhjZfbbeb^jm]bfbh[jZ
[Zlu\Zxsbfbmkljhckl\Zfb"
>hklZlhqghhq_\b^gufkihkh[hf[m^_lke_^mxsbcIhf_lbf\bgnhjfZpbhg
ghcbklhjbbl_hi_jZpbbdhlhju_aZ\bkyllhevdhhl\g_rgbo^Zgguoijh]jZf
fubkdZ`_fqlhlZdb_hi_jZpbbijbgZ^e_`Zldi_j\hfmyjmkmbgnhjfZpbhg
ghcbklhjbbGZ\lhjhcyjmkihf_klbfhi_jZpbbaZ\bkysb_lhevdhhlhi_jZ
pbci_j\h]hyjmkZb\g_rgbo^ZgguoblZd^Ze__JZkij_^_eb\lZdbfh[jZahf
hi_jZpbb bgnhjfZpbhgghc bklhjbb ihemqZ_f __ \b^ gZau\Z_fuc yjmkgh-
iZjZee_evghc nhjfhc ijh]jZffu Dhebq_kl\h yjmkh\ yjmkgh-iZjZee_evghc
nhjfu gZau\Z_lky ^ebghc djblbq_kdh]h imlb Ih ihkljh_gbx hi_jZpbb ih
iZ\rb_gZh^bgyjmkg_fh]mlkhklhylv\hlghr_gbbbgnhjfZpbhgghcaZ\bkb
fhklbZagZqblfh]ml[ulv\uiheg_guh^gh\j_f_gghLZdbfh[jZahfijhp_kk
ihemq_gbyiZjZee_evghcijh]jZffufh`_l[ulvke_^mxsbfkgZqZeZjZkij_
^_ey_f f_`^m ijhp_kkhjZfb hi_jZpbb i_j\h]h yjmkZ ihke_ ba aZ\_jr_gby –
hi_jZpbb\lhjh]hyjmkZbl^Ihkdhevdmex[Zyhi_jZpbyn-]hyjmkZaZ\bkbloh
ly[uhlh^ghchi_jZpbbn-1)-]hyjmkZlh__g_evaygZqZlv\uihegylvjZgvr_
q_f aZ\_jrblky \uiheg_gb_ hi_jZpbc ij_^u^ms_]h yjmkZ Z agZqbl yjmkgh-
iZjZee_evgZynhjfZij_^klZ\ey_lkh[hc\hij_^_e_gghfkfuke_fZdkbfZevgh
iZjZee_evgmxj_ZebaZpbxijh]jZffuIjbwlhf^ebgZdjblbq_kdh]himlboZ
jZdl_jbam_ldhebq_kl\hiZjZee_evguorZ]h\g_h[oh^bfuo^ey__\uiheg_gby
H^gZdhyjmkgh-iZjZee_evgZynhjfZihqlbgbdh]^Zg_bkihevam_lky^eyijZdlb
q_kdh]hjZkiZjZee_eb\Zgbyijh]jZffIjbqbghcwlh]hy\ey_lkylhqlhhibkZg
guc kihkh[jZkiZjZee_eb\Zgby iehoh kh]eZkh\Zg dZd k dhgkljmdpbyfbj_Zev
guoyaudh\ijh]jZffbjh\ZgbylZdbkZjobl_dlmjgufbhkh[_gghklyfbkh\j_
f_gguo dhfivxl_jh\ Qlh[u m[_^blvky \ wlhf fh`_l_ ihijh[h\Zlv kdhgkl
jmbjh\ZlvlZdbfkihkh[hfiZjZee_evgmxj_ZebaZpbxijZdlbq_kdbex[h]hZe