ILR0033 Fonduri de Investitii -

8/10/2019 ILR0033 Fonduri de Investitii -

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Wdcvgrsctitgi Bibg-Bmoyic @ouk-Dipmì@gdtruo lg Emrairg @mdtcdu, dvadt oi

Lcstid c ù Erg`vgd Rglus

Eiùotitgi lg Buscdgss

Ppg`cioczirgi; Ilacdcstrirgi Iei`grcomr

PWZMR\ LG @WRP

Emdlurc lg cdvgstccc

IDWO CCC

Pgagstruo 9

@ouk-Dipmì2:9


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EMDLWRC LG CDUGP\CCC

Cdemraicc fgdgriog

Litg lg clgdtcecìrg i ùrsuouc

Litg lg `mdti`ttctuoir ùrs Litg lg clgdtcecìrg ùrs c `mdti`t tutmrc Duag; Og`t.lr. @rcstcdi BiocdtBcrmu; Eiùotitgi lg Buscdgss, Ptr.Hmrgi dr.6,ìa.292\gogemd; :25


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@ursuo urargtg;

P lgzvmotg m aic bud dgogfgrg i dmcudcomr lg biz spg`cec`g emdlurcomr lg cdvgstccc>

P lgzvmotg dgogfgrgi amluouc d ìrg sudt mrfidczitg c eud`cmdgiz i`gstg emdlurc lg

cdvgstccc

P lgzvmotg ibcoctitgi lg i clgdtcecì amluo d ìrg i`gstg emdlurc pmt s ecg utcoczitg ìpirtgdgrc d iscfurirgi rgsursgomr ecdid`cirg dg`gsirg siu ì mpmrtudctc lg cdvgstccc

Lup pirùrfgrgi i`gstgc lcs`cpocdg stulgdcc vmr lmbdlc uratmirgog `mapgtgdg;

dgogfgrgi amluouc lg eud`cmdirg i emdlurcomr lg cdvgstccc

Ibcoctitgi lg i utcoczi cdemraiccog rgegrctmirg oi i`gstg emdlurc pgdtru s`mpuo urarct lg

`go `g lgcdg cdemraici

Ibcoctitgi lg i oui lg`czcc pg bizi cdemraiccomr megrctg lg emdlurcog lg cdvgstccc

Ibcoctitgi lg i dgogfg rcsùrcog c ividtikgog pg ìrg og prgsupud poisiagdtgog d emdlurc

lg cdvgstccc

Mrfidczirgi tgagomr d ìlruo ùrsuouc\gagog ibmrlitg d ìlruo i`gstuc ùrs sudt stru`turitg istego d`t s pgract itcdfgrgi

prcd`cpiogomr mbcg`tcvg prgzgdtitg d lgs`rcgrgi ùrsuouc. Pg pmrdgtg lg oi prgzgdtirgi tcpmomfcgc

emdlurcomr lg cdvgstccc, sg lcsùt ipmc lgtiocit tcpurcog lg emdlurc lg cdvgstccc c trsturcog

spg`cec`g iog i`gstmri. Pg prgzcdt `tgvi tcpurc spg`ciog lg emdlurc, ù ìrg sg pmitg vgdc d

`mdti`t litmrct fombioczrcc pcggc ecdid`cirg c ipmc sudt prgzgdtitg emdlurcog prcvitg lg pgdscc,

capmrtidi i`gstmri pgdtru ecgìrg pgrsmid idfikit c ìrg urargtg s icb m prmtg`cg d

amagdtuo rgtrifgrcc lcd i`tcvctitg. @ursuo sg d`hgcg ù prgzgdtirgi tgdlcdgomr lg gvmoucg iog

emdlurcomr pg prcd`cpiogog pcgg; `gi iagrcìd c `gi gurmpgid.

Zirùrfgrgi `mdcdutuouc lcs`cpocdgc `mdlu`g oi itcdfgrgi uratmirgomr mbcg`tcvg;

dsucrgi ùdmtcdgomr prcvcdl eud`cmdirgi c tcpmomfci emdlurcomr lg cdvgstccc,

prgùa c i dgogfgrcc eiptuouc ` poisiagdtgog d istego lg emdlurc rgprgzcdt

isuairgi lg rcsùrc>

orfcrgi bizgc lg ùdmtcdg i stulgdcomr pgdtru i oui lg`czcc pgrtcdgdtg ogfitg lg

poisiagdtgog/ lg`czccog lg cdvgstctcc pg ìrg og ciu d `ggi `g prcvgtg emdlurcog lg

cdvgstccc> eudliagdtirgi bizgc tccdcec`g i stulgdcomr pgdtru i putgi fgdgri ud ricmdiagdt

prmegscmdio lg viomirg d `ggi `g prcvgtg m sgrcg lg lg`czcc ogfitg lg utcoczirgi

emdlurcomr lg cdvgstccc ì vghcùog cdvgstccmdiog.

Litmrct lcdiac`cc cdemraicmdiog lcd lmagdcuo ecdid`cir, d ecgìrg id sursgog lg cdemrairg sg

vmr amlcecì d `mdemractitg ù utotcagog gvmoucc d lmagdcu c vmr ec `maudcìtg d tcap utco pg


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stulgdcc pmt s trcact `magdtirccog ù prcvcrg oi tgagog

ibmrlitg c/ siu pmt s `mapogtgzg cdemraiccog eurdczitg ù dmc cdemraicc oi ìrg iu i``gs.

Lg isgagdgi, ùrsuo sg bizgiz c pg i``gsirgi wgbsctg-urcomr ìrg prgzcdt m sgrcg lg ispg`tg

prcvcdl emdlurcog lg cdvgstccc c d `ggi `g prcvgtg poisiagdtgog rgioczitg lg i`gstgi, prgùa c i

rgvcstgomr spg`cioczitg d i`gst lmagdcu, istego d`t stulgdcc s sg eiacocirczgzg ù `ggi `g gxcst

pg poid cdtgrdicmdio, pgdtru i putgi s `mdtrcbucg oi abudtcrgi lgzvmotrcc aidifgagdtuouc

i`gstmr emdlurc d Rmadci. Zgdtru i`gisti, i`tcvctitgi cdlcvcluio lgseurit lg ecgìrg stulgdt

gstg gxtrga lg capmrtidt.

Ptulgdcc lcspud lg ocbgrtitgi lg i-c fgstcmdi scdfurc amlioctitgi c tcapuo lg pirùrfgrg iùrsuouc. Gstg, ds, rg`maidlit pirùrfgrgi su``gscv i amluogog d mrlcdgi cdlcìt c

dlgpocdgrgi sir`cdcomr cdlcìtg d ìlruo ecg`ruc amluo.

Ptulgdcc vmr putgi bgdgec`ci lg `mdsuoticc itt oi sglcuo eiùotcc, d ìlruo mrgomr prg`czitg

idtgrcmr, prgùa c prcd cdtgraglcuo `maudc`rcc prcd g-aico.

Aitgrciog bcbocmfriec`g mbocfitmrcc

Zrcd`cpiogog sursg bcbocmfriec`g sudt;

9. Bicogy, R.G., (2::7)\hg G`mdmac`s me Ecdid`cio Airngts, @iabrclfg Wdcvgrscty Zrgss

(aml lg i``gs; Bcbocmtgì Eiùotcc lg Buscdgss)2. Bmlcg, [., Nidg, I., Airùs, I.K. (9333)Cdvgstagdts, CRVCD/A`Friw-Hcoo, gl. pgdtru i lmui dtodcrg gstg prmfriait

pirùrfgrgi amluououc CCC sc rgvczucrgi tgagomr pirùrsg.

Zgdtru ì i`gstg dtodcrc s lgvcd ù ilgvrit cdtgri`tcvg c pgdtru i sg putgi emìoczi pg

ispg`tgog capmrtidtg lir c i lgtioccomr dg`gsirg, stulgdcomr oc sg rg`maidl s pirùrf

supurtuo lg ùrspus oi lcspmzccg oi d`gputuo sgagstruouc, prgùa c pirùrfgrgi ìpctmogomr

`mrgspudztmirg tgagomr ibmrlitg oi ecgìrg dtodcrg lcd `go pucd udi lcdtrg sursgogbcbocmfriec`g cdlcìtg> uotgrcmr dtodcrcc sg rg`maidl rgzmovirgi sir`cdcomr cdlcìtg.

\gaitcì ùrsurcomr prglitg d ìlruo i`gstgc lcs`cpocdg ùprcdlg;

\gaitcì ùrsuouc;Lgecdcrgi, eud`ccog c tcpmomfci emdlurcomr lg cdvgstccc

Capocìrgi stulgdcomr; pirùrfgrgi rgegrcdgomr bcbocmfriec`g cdlcìtg

Rgegrcdg bcbocmfriec`g;9. @mrrilm, @.K., Brilemrl, L.K., (2::2)Eudliagdtios me Cdvgstagdts, gl.2, Bcbocmtgì

Eiùotcc lg Buscdgss, pif.88-92:2. Rgcooy, E.N., Brmwd, N.@., (2:::)Cdvgstagdt Idioyscs idl Zmrtemocm Aidifgagdt,

\hmasmd Ogirdcdf, gl.5, Bcbocmtgì Eiùotcc lg Buscdgss, pif.9:37-99270. Rmsg, Zgtgr P., (2:::)Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,

Bcbocmtgì Eiùotcc lg Buscdgss, pif.9


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Rgegrcdg bcbocmfriec`g;9. Rmsg, Zgtgr P., (2:::)Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,

Bcbocmtg`i Ei`uotcc lg Buscdgss, pif.907-9


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\gaitcì ùrsuouc;\cpurc lg emdlurc d`hcsg lg cdvgstccc


Rgegrcdg bcbocmfriec`g;9. @mrrilm, @.K., Brilemrl, L.K., (2::2)Eudliagdtios me Cdvgstagdts, gl.2, Bcbocmtgì

Eiùotcc lg Buscdgss, pif.88-92:

2. Rmsg, Zgtgr P., (2:::)Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,Bcbocmtgì Eiùotcc lg Buscdgss, pif.9


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Rgegrcdg bcbocmfriec`g;9. Ibgy, I., Fgraid, @., Hcffcds, G., (2::9)Emrtudg stritgfy,Zrgdtc`g Hioo, Bcbocmtgì

Eiùotcc lg Buscdgss, 980-2952. Brcfhia, G.E., Fipgdsnc, O.@., Livgs, Z.R., (9333)Cdtgraglcitg Ecdid`cio

Aidifgagdt, \hg Lrylgd Zrgss, gl.5. , Bcbocmtgì Eiùotcc lg Buscdgss, pif.860-3:20. Rmsg, Zgtgr P., (2:::)Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,

Bcbocmtgì Eiùotcc lg Buscdgss, pif.97:-977


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2)tgst frco ecdio rgprgzgdtdl 6:% lcd dmti ecdio.

Zgdtru ecgìrg emra lg gxiacdirg sg vmr idudi `rctgrccog c birgauo lg lgtiocit lg dmtirg. M

sgrcg lg gxgapogìrg s ikutg stulgdcc d rgioczirgi tgagomr c prmcg`tgomr vmr ec prgzgdtirg d

ìlruo ùrsuouc. \gragdgog ocact c amluo lg gxiacdirg/ prgzgdtirg sudt prgzgdtitg d

ìogdliruo lgtiocit io lcs`cpocdgc. Lgpcrgi tgragduouc ocact idudit `mdlu`g oi dgouirgi d`mdsclrgrirg i ou`rrcc rgspg`tcvg. Zrcd tgagog lg `mdtrmo c prmcg`tgog pg ìrg trgbucg s og

dtmàgis`, aistgridzcc vmr lmbdlc `mapgtgdgog dg`gsirg lg i ipocì ùdmtcdgog lmbdlctg

oi dcvgo pri`tc`.

Rgzuotitgog mbcdutg oi i`gist lcs`cpocd sg vmr `maudcì pg pirùrs, prcd idudirgi dmtgomr

pirciog c oi ecdio prcd idudirgi dmtgc ecdiog. I`gist `maudcìrg sg pmitg rgioczi itt ei d

ei, `t c prcd iecirgi dmtgomr (pg bizi duaruouc aitrc`mo) pg poitemrai ieoit oi lcspmzcci

stulgdcomr oi i`gist emra lg dvadt. Ecgìrg stulgdt pmitg smoc`cti ud egglbi`n

supocagdtir prcd `mdti`tirgi tctuoiruouc lg ùrs c/ siu i tutmrcomr prcd cdtgraglcuo ilrgsgc lg g-

aico.

Gogagdtg lg lgmtmomfcg iìlgac`

Zrgzgdi oi ùrsurc c sgacdircc du gstg mbocfitmrcg.

Zrgzgdtirgi oi gxiagd du gstg `mdlccmdit lg ud duar acdca lg prgzgdg oi ùrs siu oi

sgacdir.

Ou`rrcog goibmritg trgbucg s icb, mbocfitmrcu, ud ìri`tgr lg mrcfcdioctitg. Pg `mdsclgrpoifcit

mrc`g ou`rirg ìrg rgprmlu`g d prmpmrcg lg acdca sg pmitg ikudfg pd oi dgprcacrgi stulgdtuouc d

sgscudgi lg gxiagdg prmfriait.

d ìzuo d ìrg sg utcoczgiz eriuli oi gxiagd, prm`gsuo lg gxiacdirg vi ec scstit caglcit c

ou`rirgi vi ec iduoit.

Rgzuotitgog prm`gsuouc lg gxiacdirg vmr ec pusg oi lcspmzcci stulgdcomr pg poitemrai lglcìt

i`gstmri, utcoczdl ì clgdtcecìrg duaruo aitrc`mo. @mdtgsticcog trgbucg s ecg lgpusg d aixca

2< lg mrg lg oi iecirgi rgzuotitgomr> rspudsuo oi `mdtgsticc sg vi li d aixca


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9:

Agtmlgog lg tridscactgrg i cdemraiccomr ù prcvcrg oi i`gist lcs`cpocd sg pmt ilipti d eud`cg

lg tcpuo lg lczibcoctc dtodctg d rdluo ùrsidcomr. I``gsuo gfio oi cdemraicg c oi i`tcvctcog

lcli`tc`g pgdtru ùrsidc sg vi iscfuri prcd tmitg asurcog (rgzmdibcog) ù putcd.

Ptritgfcc lg stulcu rg`maidlitgGstg rg`maidlit pirùrfgrgi scstgaitc` i amluogomr (stru`turitg pg `gog 9< udctc lg ùrs)> sg

pudg i``gdtuo pg prgftcrgi cdlcvcluio `mdtcdu, prcd iùauoirg `mdstidt i ùdmtcdgomr,

prgùa c pg gviourcog emraitcvg pg pirùrsuo sgagstruouc.

Duaruo lg mrg dg`gsirg pirùrfgrcc c dsucrcc ùdmtcdgomr dg`gsirg prmamvrcc i`gstgc

lcs`cpocdg gstg, d eud`cg lg ìpi`ctcog ecg`ruci, dtrg 7: c 77 lg mrg. Lmùagdtirgi c

goibmrirgi prmcg`tgomr dg`gsct ud cdtgrvio lg 27-07 lg mrg. I`gstg mrg vmr ec iomìtg, pg pirùrsuo

sgagstruouc, lg ecgìrg stulgdt, d eud`cg lg prgegrcdgog cdlcvcluiog.


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99

2. Pupmrtuo lg `urs


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Amluouo CLgecdcrgi, eud`ccog c tcpmomfci emdlurcomr lg cdvgstccc.

Emdlurc lgs`hcsg lg cdvgstctcc

udctitgi lg ùrs 9Lgecdcrgi, eud`ccog c tcpmomfci emdlurcomr lg cdvgstcccudctitgi lg ùrs 2Emdlurcog lgs`hcsg lg cdvgstccc (mpgd-gdl eudls)

udctitgi lg ùrs 0 - @msturcog ogfitg lg poisiagdtgog (cdvgstctccog) cd emdlurcog lgs`hcsg/

autuiog

udctitgi lg ùrs < \cpurc lg emdlurc lgs`hcsg lg cdvgstccc d eud`cg lg pmrtmemocuo

`mdstctuct

udctitgi lg ùrs 7 - \cpurc lg emdlurc lgs`hcsg lg cdvgstccc d eud`cg lg mbcg`tcvuo lg

cdvgstccc stibcoct

udctitgi lg ùrs 5Emdlurc autuiog vgrsus W@C\s

P`mp c mbcg`tcvg

P`mp

I`gst amluo urargtg s eiacocirczgzg stulgdcc ù emdlurcog lg cdvgstccc, prgùa c ù tcpmomfci

i`gstmri. Lg isgagdgi, sg urargtg prgzgdtirgi eud`ccomr dlgpocdctg lg emdlurcog lg cdvgstccc,

i``gdtuio ìzidl pg emdlurcog lgs`hcsg lg cdvgstccc, pirtcùoirctcog lg eud`cmdirg iog i`gstmri,

lcvgrsg tcpurc gxcstgdtg c lcegrgdgog ìrg gxcst pg pcggog iagrcìdg c gurmpgdg.

Mbcg`tcvg urarctg

- dgogfgrgi rmououc emdlurcomr lg cdvgstccc pg pcii ecdid`cir

- @udmitgrgi oi dcvgo fgdgrioi eud`ccomr dlgpocdctg lg i`gstgi

- @udmitgrgi tcpmomfcgc fgdgriog i emdlurcomr lg cdvgstccc- dgogfgrgi `md`gptuouc lg emdl lgs`hcs lg cdvgstccc

- dgogfgrgi amluouc lg eud`cmdirg i i`gstmri c i ìri`tgrcstc`comr omr

- Clgdtcecìrgi prcd`cpiogomr tcpurc lg cdvgstctmrc cdtgrgsic lg i`gstg emdlurc lgs`hcsg


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@md`gptg lg biz; emdlurc lg cdvgstccc, lgecdcrg, rmo, tcpurc lg emdlurc, emdl lgs`hcs, tctou lg

pirtc`cpirg, udctc lg emdl, gacscudg `mdtcdu, pmrtmemocu

udctitgi lg ùrs 9

Lgecdcrgi, eud`ccog c tcpmomfci emdlurcomr lg cdvgstcccscdtgzi

Emdlurc lg cdvgstctcc`mapidcc lg cdvgstctcc

@gog lmui dmtcudc pmt ec `mdsclgritg scacoirg

Wd emdl lg cdvgstccc siu m `mapidcg lg cdvgstccc rgprgzcdt m gdtctitg spg`cioczit d

`md`gdtrirgi lcspmdcbcoctcomr bdgtc, d spg`cio lg oi cdvgstctmrcc cdlcvcluioc, c poisirgi

i`gstmri d `mdemractitg ù mbcg`tcvuo/ mbcg`tcvgog lg cdvgstccc iduditg

I`gstg gdtctc megr sgrvc`cc lg aidifgagdt i i`tcvgomr ecdid`cirg pgdtru cdvgstctmrcccdlcvcluioc, lir c iotg tcpurc lg cdvgstctmrc (ìrg du lmrgs` m capocìrg lcrg`t pg pcii

ecdid`cir) c ìrg ìut sgrvc`cc prmegscmdiog lg aidifgagdt i poisiagdtgomr omr

Zrcd sgrvc`ccog megrctg, i`gstg gdtctc iu cdtrmlus clggi lg cdvgstccc `mog`tcvg (pmmo me

amdgy)prcd `md`gdtrirgi lg suag ac`c lg bidc lg oi ud duar airg lg cdvgstctmrc

Mrc`g emdl/ `mapidcg lg cdvgstccc trgbucg;

P ecg drgfcstrit lg iutmrctitgi lg suprivgfhgrg i pcgtgc lcdtr-m iduact ir

Pi rgspg`tg rgfogagdtircog cd lmagdcu lcd iri rgspg`tcv

Pi icbi ud prmspg`t lg gacscudg ìrg si idudtg mbcg`tcvgog spg`cec`g lg cdvgstctcc prgùa

sc dcvgouo lg rcs` io i`gstmri

Lg `g iu ipirut emdlurcog lg cdvgstccc=

Zgdtru i megrc ud vghcùo cdvgstctcmdio (ud ackom` lg poisiagdt) pgdtru cdvgstctmrcc lcd

òisi lg ackom`

Pg ilrgsgiz i`gomr cdvgstctmrc ìrg lcspud lg rgsursg ocactitg pgdtru cdvgstcrg sc dulmrgs` si pirtc`cpg lcrg`t oi poisiagdtg pg pciti ecdid`ciri, dc`c si ecg i`tcvc cd

ilacdcstrirgi poisiagdtgomr geg`tuitg


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9 emdlurc autuiog)

Emdlurc mrcgdtitg sprg poisiagdtg pg tgragd sùrt emdlurc amdgtirg

(amdgy airngt eudls)

Emdlurc mrcgdtitg sprg poisiagdtg pg tgragd (aglcu sc) oudf Emdlurc lg i`tcudc

Emdlurc lg mbocfitcudc

Emdlurc ù pmrtmemocc lcvgrscecìtg (emdlurc acxtg siu hcbrclg)

@omsgl gdl (siu cd`hcsg> sub emrai lg PI)

Emdlurc lg i`tcudc


Dmtcudc supocagdtirg

Zmrtmemocu 1 m `mabcditcg lg acdca lg 2 i`tcvg ecdid`cirg/ viomrc ambcocirg, `mdstctuct

pgdtru lcvgrscìrgi rcsùouc sc mbtcdgrgi udgc iduactg rgdtibcoctitc

Mbcg`tcvgog lg cdvgstctcc`mabcditg, lg tcp; vgdct ecx, rgdtibcoctitg rclcìti, prmtg`tcg

Ptritgfcg lg cdvgstctcc stibcocrgi amluouc lg iomìrg i suagomr lcspmdcbcog cdtrg lcvgrsg

tcpurc lg i`tcvg lg pg pciti> sg emrauogizi pg bizi mbcg`tcvgomr lg cdvgstctcc sc i `mdlctccomr

ai`rmg`mdmac`g

Ugrcecìrgi udmtcdgomr9. @g sudt emdlurcog lg cdvgstccc=

2. Lcd `g amtcvg iu iprut=

0. @irg sudt prcd`cpiogog lcegrgdg lcdtrg poisiagdtgog cdlcvcluiog c poisiagdtgog d

emdlurc lg cdvgstccc=


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udctitgi lg ùrs 2Emdlurcog lgs`hcsg lg cdvgstccc (mpgd-gdl eudls)

scdtgz

Emdlurcog mpgd-gdl (lgs`hcsg siu autuiog)vircidti iagrcìdi

Zrcd`cpioi ìri`tgrcstcì; duairuo lg tctourc pusg cd `crùoitcg gstg vircibco

Zmtgdtciocc cdvgstctmrc pmt si i`hczctcmdgzg tctourc lg pirtc`cpirg cd mrc`g amagdt, oi `grgrg

(gacscudg `mdtcdui)

Risùapirirgi tctourcomr lgtcdutg lg cdvgstctmrc sg ei`g cd aml `mdtcduu, cd mrc`g amagdt

io udgc zcog ou`ritmirg

DWsudt tridzi`tcmditg pg pcgtgog burscgrg

Fril rclcìt lg pmpuoirctitg

@mdstctucrgi uduc emdl autuio/ lgs`hcs

Mrfidczit sub ogfgi `mdtri`tuouc (irg oi bizi `mdtri`tg pgdtru ilacdcstrirg sc lgruoirgi

iotmr sgrvc`cc lg ìrg irg dgvmcg cd eud`tcmdirgi si)

Cd Rmaidci ud emdl lgs`hcs sg `rgizi ivcdl oi bizi `mdtri`tuo lg sm`cgtitg `cvcoi> m

sm`cgtitg `cvcoi DW irg pgrsmdioctitg kurclcì

Cdctcgrgi oidsircc uduc emdl lgs`hcs/ autuio, ipirtcdg uduc spmdsmr (lgduacrg emomscti cd

PWI)

I`gst spmdsmr pmitg si ecg;

Pm`cgtitgi lg ilacdcstrirg i emdluouc (ilacdcstritmruo)

@mdsuotidtuo lg cdvgstctcc (cdvgstagdt ilvcsgr)

Pm`cgtitgi lg lcstrcbutcg prcd`cpioi (prcd`cpio udlgrwrctgr)

Cd Rmaidci spmdsmruo uduc istego lg emdl pmitg si ecg duaic sm`cgtitgi lg

ilacdcstrirg i cdvgstctccomr (PIC)duacti sc sm`cgtitg lg ilacdcstrirg

Emdluo mrfidczit ì sm`cgtitg `cvcoi DW pmitg si gxcstg cd ibsgdti `mdtri`tuouc lg

ilacdcstrirg ù PIC

Amtcvitci oidsircc uduc emdl lgs`hcs

I`ggi lg i mbtcdg ud vgdct lcd ilacdcstrirgi/ aidifgagdtuo emdluouc sc/ siu lcd

lcstrcbucrgi tctourcomr gacsg lg emdl


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spmdsmruo uduc emdl trgbucg si eiì tmitg lgagrsurcog ogfiog pgdtru iutmrczirgi sc

cdrgfcstrirgi emdluouc (ividsgizi prmprccog rgsursg)

Lgsc spmdsmruo cdctcizi oidsirgi emdluouc, i`gst emdl gstg fgstcmdit cd bgdgec`cuo

cdvgstctmrcomr ìrg ilgri oi go

@mdscocuo lcrg`tmr (`mdscocuo lg ilacdcstritcg)

Iogs lg ìtrg cdvgstctmrcc oi emdl

Zrcd`cpiouo rmo`go lg suprivgfhgrg i i`tcvctitcc ilacdcstritmruouc sc/ siu i `gouc ìrg

fgstcmdgizi lcrg`t pmrtmemocuo emdluouc

Iprmbi pmoctc`cog sc prm`glurcog emdluouc

Iprmbi `mdtri`tgog lg ilacdcstrirg, lg lgpmzctirg, lg lcstrcbutcg, iotg `mdtri`tgliì

gstg dg`gsir Ugrcecì rgspg`tirgi rgfogagdtircomr cd vcfmirg, prgùa sc i mbcg`tcvgomr, i pmcoctc`comr sc

prm`glurcomr emdluouc

Capmrtidti lcrg`tmrcomr cdlgpgdlgdtc (67% lcd `mdscocu) subocdciti lcd 2:: s`mpuo; duaiciscfurirgi lg oc`hclctitc pgdtru `grgrcog lg

risùapirirg cdrgfcstritg) Pi i`mrlg sc/ siu si i`mrlg capruauturc cd duagog emdluouc (ù gx`gptci i`hczctcmdircc lg

mbocfitcudc)

Iutmrczirgi uduc emdl lgs`hcs lg cdvgstccc cd Rmadci

Wd emdl lgs`hcs gstg iutmrczit lg @DUA lupi `g, cd prgioibco;

I emst iutmrcziti PIC

Iu emst iutmrczitg rgfuocog emdluouc

I emst iutmrcziti iogfgrgi lgpmzctiruouc

I emst iutmrczit prmspg`tuo lg gacscudg

Rmouo lgpmzctiruouc - PWI

Duact ùstmlcidilgsgi gstg m cdstctutcg bidìri ìrg cdlgpocdgstg `mdlctccog ogfiog

pgdtru i ec lgpmzctir/ ùstmlcid

Zrgzgdti i`gstuci gstg `gruti prcd ogfg

Dc`c ud emdl lgs`hcs DW pmitg eud`tcmdi eiri ud lgpmzctir

Zistrgizi i`tcvgog emdluouc (pgdtru prmtg`tci cdtgfrctitcc i`gstuci)

Agdtcdg gvclgdti sgpiriti i i`gstmri pgdtru i prmtgki cdtgrgsgog cdvgstctmrcomr


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2:

Rmouo lgpmzctiruoucRmadci

Lg i sg iscfuri ì;

Gactgrgi, vcdzirgi, risùapirirgi sc iduoirgi udctitcomr lg emdl sg geg`tugzi lg

PIC siu m ioti gdtctitg iutmrcziti

Uiomirgi udctitcomr lg emdl gstg ìoùoiti cd `mdemractitg ù rgfuocog emdluouc sc

ù prgvglgrcog ogfcsoitcvg

Mrc`g suai gstg i`hctiti oi tgragduo stibcoct pgdtru tridzi`tccog ìrg iu ì mbcg`t

i`tcvgog emdluouc

Ugdcturcog emdluouc sudt ìoùoitg sc ilacdcstritg cd `mdemractitg ù

rgfogagdtircog cd vcfmirg sc ù rgfuocog emdluouc

Cdlgpocdgstg cdstru`tcudcog PIC (liì i`gstgi du `mdtrivcd ogfcc)

Cdrgfcstrgizi, vgrcecì, amdctmrczgizi sc `mdtrmogizi tmitg i`tcvgog pg ìrg og lgtcdgecgìrg emdl pgdtru ìrg sg iscfuri i`tcvctitgi lg lgpmzctirg

Zrcagstg suagog rgzuotitg lcd vcdzirgi udctitcomr lg emdl sc og poisgizi cd

`mdemractitg ù cdstru`tcudcog PIC

Rmouo sm`cgtitcc lg lcstrcbutcg - PWI

M sm`cgtitg prcd`cpioi lg lcstrcbutcgduacti sc udlgrwrctgr

Lg mbc`gcm sm`cgtitg lg brmngrifg

Cd ìoctitg lg udlgrwrctgri`gisti sm`cgtitg ùapiri (pg `mdtuo sc rcsùo siu) udctitc lg

emdl sc og rgvcdlg

@mdtri`tuo lg lcstrcbutcg trgbucg si ecg iprmbit lg `mdscocuo lcrg`tmr io emdluouc

Ifgdtuo lg tridsegr - PWI

M tgrti pirtg ìrg megri uraitmirgog sgrvc`cc;

Gvclgdti `mdturcomr cdvgstctmrcomr oi emdl

@ioùoirgi sc lcstrcbucrgi `cstcfurcomr ìtrg cdvgstctmrc

Zrgfitcrgi sc trcactgrgi prcd pmsti i cdemraitccomr pgdtru cdvgstctmrc

@mdecrairgi mpgritccomr geg`tuitg lg cdvgstctmrc (cdvgstctcc supocagdtirg, tridsegr

ìtrg iotg emdlurc lcd i`ggisc eiacocg)


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Ugrcec`irgi udmtcdgomr

9. @irg sudt prcd`cpiogog `iri`tgrcstc`c iog uduc emdl lg tcp mpgd-gdl

2. @irg gstg rmouo ilacdcstritmruouc d Rmadci=

0.

@irg gstg rmouo lgpmzctiruouc d Rmadci=


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22

@macscmidgog lg vcdzirg sc/ siu risùapirirg

Emdlurcog lgs`hcsg ìrg pgr`gp `macscmidg oi vcdzirgi tctourcomr ìtrg cdvgstctmrc sg aic

duags` sc omil eudls

@macscmduo lg vcdzirgsg duagstgermdt-gdl omil(omil egg siuomilcdf `hirfg)

@macscmduo lg vcdzirg sg poitgstg pgstg UWID

Aircagi i`gstuc `macscmd pmitg si ikudfi pcdi oi 8.7%> dcvgouo mbcsduct gstg lg 7-5%

Liì dcvgouo `macscmduouc lg vcdzirg gstg lg 2-0%, emdluo cdtri cd ìtgfmrci omw-omil

eudl

@macscmduo lg vcdzirg gstg gxprcait ì % lcd prgtuo lg vcdzirg (gstg `msagtczit)

@macscmduo lg vcdzirg pmitg si sìli m liti ù suai cdvgstcti

Gx; Iagrcìd Bioid`gl Eudl Cdtgrviouo :-7:,::: WPL7.67%

Cdtgrviouo 7:,::9-9::,::: WPL


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20

Emdlurcog ìrg dupri`tcì `macscmidg vcdzirg sc/ siu risùapirirg sc dc`c tixi 92b-9,

sudt duactg emdlurc purg

I`gisti lgduacrg gstg emomscti pgdtru i og lgmsgbc lg emdlurcog dmt sm purg ìrg

pri`tcì ud iduact dcvgo io tixgc 92b-9 (lir du pgr`gp `macscmidg lg vczirg sc/siu

risùapirirg

@macscmidgog/ tixgog lg aidifgagdt

Lgpcdl lg lcagdscudgi emdluouc ilacdcstrit

Uircizi cdtrg :.27% - 9% lcd viomirgi i`tcvgomr ieoitg sub ilacdcstrirg

Dcvgouo omr pmitg si `rgisì liì emdluo ilacdcstrit mbtcdg pgremraidtg pgstg dcvgouo

istgptit

@msturcog lg tridzi`tcmdirg

Pudt rgprgzgdtitg lg `macscmidgog poitctg pgdtru tridzi`tccog lgruoitg prcd cdtgraglcuo

sm`cgtitcomr lg brmngrifg

I`gstg `msturc `rgs` liì erg`vgdti lg tridzi`tcmdirg gstg airg

Iulctmrcc sc `mdscocuo lg ilacdcstritcg trgbucg si urairgisì erg`vgdti lg tridzi`tcmdirg

i`gsti du trgbucg si `rgisì pgstg dcvgouo dg`gsir fgstcmdircc pmrtmemocuouc `mdemra

mbcg`tcvgomr stibcoctg


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b) 3% lcd viomirgi udctitcc lg emdl, liì risùapirirgi i`gstgci gstg smoc`ctiti

cdtr-ud tgragd aic ac` siu gfio ù 98 oudc lg zcog lg oi i`hczctcmdirgi i`gstgci,lir ù suai dìsit ì urairg i risùaprrcc sg i`hczccmdgiz udctc lg emdl

iog B@R @oisc`>

`) 7% lcd viomirgi udctitcc lg emdl, liì risùapirirgi i`gstgci gstg smoc`ctiti

cdtr-ud tgragd aic ac` siu gfio ù 92 oudc lg zcog lg oi i`hczctcmdirgi i`gstgci,

lir ù suai dìsit ì urairg i risùaprrcc sg i`hczccmdgiz udctc lg emdl

iog B@R Lcdiac`>

l) :% liì risùapirirgi gstg smoc`ctiti cdtr-ud tgragd aic airg lg 98 oudc lg

zcog lg oi i`hczctcmdirgi i`gstgci>

g) cd ìzuo d ìrg suai cdvgstcti gstg gfioi siu aic airg lg 9::.::: ogc,

`macscmduo lg rsùaprirg gstg dgfm`cibco. Ptibcocrgi `macscmduouc sg ei`g lg

`trg sm`cgtitgi lg ilacdcstrirg i cdvgstctccomr oi amagdtuo cdvgstcrcc cd Emdl, cd

eud`tcg lg luriti cdvgstcrcc sc lg gsiomdirgi risùapirircomr.

@macscmidgog lg risùapirirg pmt ec amlcecìtg lg sm`cgtitgi lg ilacdcstrirg i

cdvgstctccomr ù iutmrczirgi @DUA Pm`cgtitgi lg ilacdcstrirg i cdvgstctccomr gstg mbocfiti


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si eiì puboc` dmuo dcvgo io `macscmduouc lg risùapirirg ù `go putcd 9: zcog cdicdtgi

cdtrircc cd vcfmirg.

Ugrcecìrgi udmtcdgomr9. @g rgprgzcdti viomirgi udctiri i i`tcvuouc dgt=

2. @irg sudt prcd`cpiogog tcpurc lg `macscmidg gxcstgdtg=

udctitgi lg ùrs rgspg`ti i`gogisc

prmpmrtcc lg iomìrg

- stritgfci lg cdvgstctcc gstg piscvi sc `hgotucgocog lg mpgrirg sudt rglusg

Emdlurc mrcgdtitg sprg rgspmdsibcoctitg sm`cioi (sm`cio `mds`cgd`g eudls)urairgs`

lgzcribcoctitgi l.p.v. sm`cio i prmlusgomr/ sgrvc`ccomr/ pmoctc`comr lg lgzvmotirg (mbcg`tcvgog

sudt vircitg; lg oi prmtg`tci aglcuouc oi pmoctcì lg pgrsmdio)

Emdlurc fgstcmditg pgdtru rglu`grgi geg`tuouc capmzctuouc isupri rgdtibcoctitcc ecdiog

Emdlurc fgstcmditg cd eud`tcg lg vcrsti cdvgstctmruouc


Pg pmt òiscecì lupi `go putcd uraitmirgog 7 `rctgrcc (siu m `mabcditcg i i`gstmri)

Aiturctitg

Ritcdf/ bmdctitg gactgdt

\cp lg mbocfitcudg

Dcvgo lg capmzctirg

\iri/ rgfcudg

@gog aic ùdmsùtg sudt;

Emdlurcog lg mbocfitcudc fuvgrdiagdtiog

Emdlurcog lg mbocfitcudc audc`cpiog

Emdlurc lg mbocfitcudc `mrpmritcvg

Emdlurc lg vgdct (vgdct rclcìtsiu hcfh ycgol eudls)

Emdlurc fgdgrioglcvgrscecìtg l.p.v. io aiturctitcomr sc io ritcdfuouc

Emdlurc cdtgrditcmdiog lg mbocfitcudc

Emdlurc fombiog lg mbocfitcudc


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Iotg tcpurc lg emdlurc mpgd-gdl

Emdlurc iog emdlurcomr (eudls me eudls)emdlurc autuiog ìrg cdvgstgs` cd tctourcog iotmr

emdlurc autuiog (sc ic`c pmitg si gxcstg m spg`cioczirg)

Egglgr eudlsemdlurc mpgd-gdl ìrg csc lgruogizi (vcrtuio) tmitg poisiagdtgog prcd

cdtgraglcuo uduc iot emdl (lgs`hcs siu cd`hcs), duact aistgr eudl

Eiacocg lg emdlurc (mpgd-gdl)

@rgiti pgdtru i fgdgri lcvgrscecìrgi poisiagdtgomr cdvgstctmrcomr

Wd scdfur aidifgr lg emdl megri m pirtg siu tmiti fiai lg emdlurc lgs`hcsg prgzgdtitg

aic sus

Gxcsti `hcir eiacocc lg emdlurc iog emdlurcomr


9. @g sudt eiacoccog lg emdlurc=

2. Gxpocìc `g gstg ud emdl io emdlurcomr

0. @g tcpurc lg emdlurc lg cdvgstccc putgc cdlgtcecì d Rmadci=www.udmp`.rm

udctitgi lg ùrs 7\cpurc lg emdlurc lgs`hcsg lg cdvgstccc d eud`cg lg mbcg`tcvuo lg cdvgstccc stibcoctPcdtgz

Emdlurcog lg i`tcudcòiscecìrg lupi mbcg`tcvg

Emdlurc lg `rgstgrg (frmwth eudls) siu lg iprg`cgrg i ìpctiououc (ìpctio ipprg`citcmd)

Lg `rgstgrg ifrgscvi (iffrgsscvg frmwth); emdlurc `g dcvgo rclcìt io rcsùouc>

cdvgstgs` cd `mapidcc rgoitcv ac`c, ieoitg cd stilcuo lg `rgstgrg> sg urairgstg

iprg`cgrgi (`rgstgrgi) ripcli i prgtuouc i`tcudcomr> sg cfdmri poiti lcvclgdlgomr

Lg `rgstgrg amlgriti (frmwth); `mapidcc ù pgrspg`tcvg budg lg lgzvmotirg/`rgstgrg cd vcctmr, lir ìrg sudt lgki ùdmsùtg udmr cdvgstctmrc

Emdlurc lg vgdct siu mrcgdtitg sprg mbtcdgrgi lg vgdct (cd`mag eudls); sg mrcgdtgizi sprg

vgdcturcog fgdgritg lcd cdìsirgi lcvclgdlgomr> sgog`tgizi `mapidcc ìrg iu cd LCUS

rclcìt sc ìrg iu m erg`vgdti budi lg poiti i lcvclgdlgomr
http://www.unopc.ro/http://www.unopc.ro/http://www.unopc.ro/http://www.unopc.ro/


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Emdlurc lg `rgstgrg sc vgdct (frmwth idl cd`mag) ^pmt si gxcstg sc emdlurc lg vgdct sc

`rgstgrgQ; el.mrcgdtitg cd prcauo rcdl pg `rgstgrg sc ìrg liu itgdtcg sc lcvclgdlgomr (liì

mbcg`tcvuo idudit gstg cd`mag idl frmwth prcd`cpiouo mbcg`tcv sudt lcvclgdlgog)

Emdlurcog lg i`tcudcòiscecìrg lupi lcagdscudgi `mapidcgc

Emdlurcog mrcgdtitg sprg `mapidccog ù ìpctioczirg acì (saioo ìp eudls) lg mbc`gc

sudt emdlurc lcd ìtgfmrci `gomr lg `rgstgrg ifrgscvi

Emdlurcog mrcgdtitg sprg `mapidccog ù ìpctioczirg aglcg (aglcua ìp eudls) lcd

ìtgfmrci emdlurcomr lg `rgstgrg siu i `gomr lg `rgstgrg sc lg vgdct

Emdlurcog mrcgdtitg sprg `mapidccog ù ìpctioczirg airg ( oirfg ìp eudls) lg mbc`gc

mrcgdtitg sprg mbtcdgrgi lg vgdct

Emdlurc acxtg lg tcp mpgd-gdl

Emdlurc acxtg siu hcbrclg (udgmrc duactg sc bogdlgl) pmrtmemocuo omr `mdtcdg ud acx

(iagstg`) lg i`tcudc, mbocfitcudc sc (cdtr-m prmpmrtcg aic rglusi) cdstruagdtg iog pcgtgc

amdgtirg

Zrcd`cpiogog tcpurc lg emdlurc acxtg/ hcbrclg;

Emdlurc ù pmrtmemocu g`hcocbritg (emdlurc g`hcocbritg siu bioid`gl)agdtcd ud

% iprmx.gfio cdtrg i`tcudc sc mbocfitcudc

Emdlurc ù pmrtmemocu eogxcbco (issgt ioomìtcmd eudls) - % lg iomìrg cdtrg

i`tcudc/ mbocfitcudc sg amlcecì agrgu

Emdlurc lg vgdct lcd sursg acxtg (cd`mag-acxgl eudls)

Emdlurc `mdvgrtcbcog spg`cioczitg cd i`tcudc prgegrgdtciog sc mbocfitcudc

`mdvgrtcbcog

M emrai i emdlurcomr hcbrclg/ acxtg sudt `mdsclgritg emdlurcog stru`turitg

Zmrtmemocuo omr `mabcdi i`tcudc sc mbocfitcudc, pgdtru prmtg`tci ìpctiououc cdvgstct sc

iprg`cgrgi i`gstuci

Cd pousemomsgs` `mdtri`tg euturgs sc `mdtri`tg lg mptcudg (ìrg iu oi bizi cdlc`c burscgrc)

pgdtru i ocacti gxpudgrgi oi rcsùo lgprg`cgrcc i ìpctiououc cdctcio cdvgstct


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9. @irg sudt prcd`cpiogog tcpurc lg emdlurc lg i`cudc=

2. @irg sudt prcd`cpiogog tcpurc lg emdlurc hcbrclg =

udctitgi lg `urs 5

Emdlurc autuiog vgrsus W@C\s

Emdlurcog autuiogspg`cec`g pcggc iagrc`idg

d Ptitgog Wdctg, prcauo emdl autuio lgs`hcs i emst deccdit d iduo 932


32/65

02

@ustmlcid/ lgpmzctir - prgzgdi i`gstuci gstg mbocfitmrcg. Bd`cog sudt `gog ìrg

dlgpocdgs` i`gist acscudg. Gog pstrgiz d ùstmlcg i`tcvgog ecdid`cirg iog emdluouc,

agdcd `mdturc cdlcvcluiog, sgpiritg pgdtru ecgìrg emdl. @ustmlciduo gstg `go ìrg

gxgùt pocog pgdtru cdvgstcccog emdluouc c prcagtg dìsrcog iegrgdtg poisiagdtgomr

eùtg (lcvclgdlg, lmbdzc, iotg `tcfurc)>

Ifgdt lg tridsegr - gstg m `mapidcg idfikit lg emdl pgdtru i cdg gvclgdi `mdturcomr

òcgdcomr (pirtc`cpidcomr oi emdl)> drgfcstrgiz c gvclgdciz tridzi`ccog lg vdzirg/

ùaprirg lg tctourc, lcstrcbucg lcvclgdlgog c `tcfurcog lg ìpctio, ìoùogiz zcodc`

viomirgi i`tcvgomr dgtg (DIU).

Firidt io gacscudcc- vgrcf cdtgraglcir, ìrg lcstrcbucg tctourcog emdlurcomr autuiog `trg

puboc` ecg prcd vdzirgi lcrg`t, ecg prcd cdtgraglcuo emrgc lg vdzirg (brmngrc/ lgiogrc,

bd`c, `mapidcc lg iscfurrc, `mdsuotidc ecdid`circ).Ilacdcstritmruo gstg rg`mapgdsit pgdtru i`tcvctitgi lg aidifgagdt i cdvgstcccomr prcdtr-m tix

lg aidifgagdt ìrg i`mpgr;

@hgotucgocog ilacdcstritcvg>

@macscmidgog lg `mdsuotid.

I`gisti gstg eùt puboc` d prmspg`t, lg rgfuo ì prm`gdt ecx lcd i`tcvgog tmtiog iog emdluouc.

Gi pmitg virci lg oi :.2% oi 2%. Rg`gdt, ocacti lg sus i s`zut c gstg, d fgdgrio, d kur lg oi 9%.

Zg odf i`gisti, stru`turi `msturcomr uduc emdl iagrcìd ùprcdlg; `macscmidg oi vdzirgi lg

tctourc (oi ùaprirgi lg tctourc), `macscmidg oi rsùaprirgi lg tctourc (ic`c gxcst lcegrctg

sctuicc, udgog emdlurc du pgr`gp i`gist tix siu pgr`gp udi emirtg rglus) c tixi 92b-9 ìrg sg

rgegr oi `msturcog lg lcstrcbucg. Zrcd amluo d ìrg sudt rgfogagdtitg, emdlurcog iu lrgptuo s

utcoczgzg :.67%-9% lcd viomirgi i`tcvgomr dgtg aglcc iduiog pgdtru i`mpgrcrgi `msturcomr lg

lcstrcbucg, udlg sg cdòul;

- @hgotucgoc fgdgriog lg airngtcdf>

- Zuboc`ctitg>

- Aitgrciog lg prmamvirg (ripmirtg iduiog c prmspg`tg)>

- @mrgspmdlgdi>

@macscmidg c iotg `mapgdsicc pgdtru brmngrcc/ lgiogrcc ìrg vdl tctourcog lg pirtc`cpirg iog

emdlurcomr.


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Emdlurcog lg cdvgstccc d Gurmpi

d Gurmpi, tgragduo lg emdl autuio du gstg prgi lgs emomsct. d s`hcab, tgragduo lgemdl lg

cdvgstccc gstg auot aic `maud prcdtrg prmegscmdctcc c cdvgstctmrcc gurmpgdc. Zrcd`cpiouo amtcv io

i`gstgc lcegrgdcgrc d tgracdmomfcg o rgprgzcdt airgi vircgtitg i tcpurcomr lg emdlurc prgzgdtg d

rcog Gurmpgc. dicdtg lg 9387 gri lcec`co cdòulgrgi vircitgomr tcpurc lg emdlurc lg cdvgstccc

gurmpgdg dtr-m ìtgfmrcg siu ioti lcd ìuzi sctuicgc pirtcùoirg i ecg`rgc rc, d `culi prgzgdgc,

pg itud`c, i EGEPC9 - Eglgrici Gurmpgid i Emdlurcomr c Pm`cgtcomr lg Cdvgstccc - emdlit d

936< oi Brussgos, Bgofci> d prgzgdt i`gist mrfidczicg s-i tridsemrait d GEIAI2- Ism`cici

Emdlurcomr Gurmpgdg c i Aidifgagdtuouc I`tcvgomr.

Iduo 9387 i airìt d`gputuo cstmrcgc emdlurcomr lg cdvgstccc pid-gurmpgdg, prcd lcrg`tcvi

87/599/GG@, i `rgc agdcrg i emst s ikutg oi `rgirgi udgc scdfurg pcgg gurmpgdg pgdtru emdlurcogautuiog lgs`hcsg prcd iramdczirgi ogfcomr, rgfogagdtrcomr c i iotmr prgvglgrc prcvcdl i`gstg

emdlurc.

Lcrg`tcvi 87/599/GG@ gstg ùdmsùt c ì Lcrg`tcvi W@C\P0- idfikiagdtg lg cdvgstccc `mog`tcvg

d viomrc tridsegribcog> d lgùrsuo tcapuouc i`gist lcrg`tcv i emst iagdlit lg `tgvi mrc.

Lcrg`tcvi W@C\P - ù iagdliagdtgog cdòusg - `mdsclgr W@C\Ps ì eccdlidfikiagdtg io `rmr

scdfur mbcg`tcv gstg i`goi lg i geg`tui cdvgstccc `mog`tcvg d viomrc ambcocirg c/ siu d iotg i`tcvg

ecdid`cirg oc`hclg i ìpctiououc itris lg oi puboc` c ìrg mpgrgiz pg prcd`cpcuo lcvgrscec`rcc

rcsùouc.

d `mdtcduirg, irt. 9(2) lgzvmot uratmirgi clgg; udctcog gacsg lg W@C\Ps sudt, oi `grgrgi

lgcdtmrcomr, rsùapritg lcrg`t siu cdlcrg`t, lcd i`tcvg.

Istego, pmtrcvct lcrg`tcvgc, W@C\Ps sudtprcd lgecdccg - duaic emdlurc lgs`hcsg lg cdvgstccc ìrg

pmt s ecg deccditg sub udi lcdtrg uratmirgog emrag;

@i c emdlurc `maudg, ilacdcstritg lg `mapidcc lg aidifgagdt, pg bizi ogfcc

`mdtri`tuouc>

@i c udct trust

9EGEPC- Eglgritcmd Gurmpggddg lgs Emdls gt Pm`cgtgs lCdvgstcsagdt,2\hg Gurmpgid Eudls idl Issgt Aidifgagdt Issm`citcmd (GEIAI)0W@C\P1 Wdlgrtincdfs emr moog`tcvg cdvgstagdt cd tridsegribog sgùrctcgs


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0 ì c prcd`cpiog ìri`tgrcstc`c iog i`gstmr emdlurc agdcmda;

sudt `mdstctuctg ecg sub ogfgi `mdtri`tuouc siu `gi i udct trust>

du iu pgrsmdioctitg kurclc`>

gact tctourc siu udcts, cir cdvgstctmrcc sudt duacc pirtc`cpidc>

sudt `md`gdtrrc lg bidc c sudt ilacdcstritg lg `mapidcc lg aidifgagdt> `mapidccog lgaidifgagdt, duactg c ilacdcstritmrc, sudt rgspmdsibcog pgdtru tmitg prmbogagog p rcvcdl emdluo>

i`tcvctcog lg aidifgagdt trgbucg s urargis` cdtgrgsgog cdvgstctmrcomr>

prgzgdi lgpmzctiruouc gstg mbocfitmrcg> lgpmzctiruo gstg rgspmdsibco lg pstrirgi i`tcvgomr

emdluouc c lg amdctmrczirgi i`tcvctcomr ilacdcstritmruouc>

udct trusts sudt spg`cec`g Aircc Brctidcc c Croidlgc, c iu oi biz ogfc spg`cec`g> d

fgdgrio, trustgg-uo, (ùstmlgog) gstg pgrsmidi cdlgpgdlgdt ìrg lgcdg i`tcvgog

emdluouc lg cdvgstccc d bgdgec`cuo cdvgstctmrcomr pirtc`cpidc> i`gsti gstg ism`cit

lgpmzctiruouc lcd Gurmpi @mdtcdgdtio>

litmrct amluouc lg mrfidczirg, i`gstmr emdlurc oc sg pmitg capudg litmrci

eclu`cir lmir itt `t gstg spg`cecìt `mdemra ogfcomr, rgfogagdtrcomr c

tgragdcomr prgvzuc d `mdtri`tuo `mapidcgc lg ilacdcstrirg.

Emdlurcog `mrpmritcvgsudt lgs`rcsg ilgsgmrc ì c `mapidcc lg cdvgstccc> d rcog erid`memdg,

i`gstgi ipir ì c PC@IU7- urc> d Airgi Brctidcg c Croidli i`gstg emdlurc sudt ùdmsùtg ì c

MGC@5s. @i c prcd`cpiog ìri`tgrcstc`c iog i`gstmr emdlurc, agdcmda;

iu pgrsmdioctitg kurclc` c sudt stru`turitg ì c `mapidcc/ sm`cgtc pg i`cudc>

g`mdmacg amlgrd (Aiàcooid glcci i pitri), udct trustgstg m sm`cgtitg lg cdvgstccc spg`cioczit, ù ud ìpctiovircibco.7PC@IU- Pm`cgtg l Cdvgstcssgagdt i @ipctio Uircibog - Pm`cgtc lg cdvgstccc u ìpctio vircibco5MGC@- Mpgd-gdlgl cdvgstagdt `mapidcgs - @mapidcc lgs`hcsg lg cdvgstccc


35/65

07

gact tctourc>

`mapidci lg cdvgstccc `glgiz, lg mbc`gc, ilacdcstrirgi udgc `mapidcc lg

aidifgagdt spg`cioczitg>

prgzgdi lgpmzctiruouc gstg mbocfitmrcg d `gog aic auotg ìzurc> `macscmidgog ouc

sudt i`gogic ì c d ìzuo emdlurcomr `mdtri`tuiog>

litmrct emragc `mrpmritcvg, gxcst m gxprcairg òir i litmrcgc eclu`cirg lg i

urarc cdtgrgsgog cdvgstctmrcomr, lg i`gstgi eccdl rgspmdsibcoc lcrg`tmrcc `mapidcgc.

d gsgd, tmitg prcog `mdtri`tidtg ripmrtgiz lcrg`tmrcomr emdluouc, ìrg sudt rspudztmrc lg

prmtgkirgi cdtgrgsgomr cdvgstctmrcomr.

Cdlustrci W@C\Ps d Gurmpi gstg lmacdit lg emdlurcog `maudg, mrfidczitg sub emra

`mdtri`tuio. I`gstgi sudt scacoirg emdlurcomr autuiog iagrcìdg (emdlurc lgs`hcsg). Wdct trustssudtprgzgdtg lmir d trgc lcdtrg rc, ds gog amlcec`, dtr-m iduact asur, mrc`g biz pgdtru m

idiocz `mapiritcv lcd ìuzi eiptuouc `, udct trusts iagrcìdg du sudt cdòusg d ìtgfmrci

emdlurcomr autuiog. Emrai `mrpmritcv i W@C\Ps - pgracs d 92 lcd `gog lg 29 lg rc - pmitg

`rgi `mdeuzcg lgmirg`g i`gstgi pmt ec umr iscacoitg emdlurcomr d`hcsg lg cdvgstccc iagrcìdg.

Lcd ìuzi eiptuouc `, itt cdvgstagdt trusts6, `t c emdlurcog lg cdvgstccc `mrpmritcvg sudt

`mdsclgritg W@C\Ps siu emdlurc lgs`hcsg lg cdvgstccc, m idiocz `mapiritcv i pcggomr

iagrcìdg c gurmpgdg, vi cdòulg i`gstg lmu emrag d ùogfgrgi c prgou`rirgi litgomr.

Lcrg`tcvi W@C\P i emst gacs ì m lcrg`tcv-prmlus prcdìrg s-i d`grìt `rgirgi uduc ocabik

`maud c i udgc poitemrag `maudg pgdtru emdlurcog lgs`hcsg lg cdvgstccc lcd dtrgifi Gurmp,

aic iogs pgdtru `gog lcd rcog agabrg iog Wdcudcc Gurmpgdg.

Oi dcvgouo Gurmpgc, Lcrg`tcvi W@C\P i`mpgr i`gog emdlurc lg cdvgstccc ìrg dlgpocdgs`

uratmirgog `mdlccc;

Pudt lmac`cocitg d mrcìrg lcdtrg stitgog agabrg iog Wdcudcc Gurmpgdg>

Pudt megrctg pubocùouc>

Pudt rsùapritg siu riabursitg oi viomirgi dgt i i`tcvgomr omr, oi `grgrgi lgcdtmrcomr>

Pudt cdvgstctg d viomrc tridsegribcog c cdstruagdtg amdgtirg>

Eud`cmdgiz pg prcd`cpcuo lcspgrsrcc rcsùouc>

d`rglcdgiz i`tcvgog omr uduc lgpmzctir.

6G`hcviogdtg udct trusts


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05

Zgdtru emdlurcog lg cdvgstccc ìrg dlgpocdgs` `mdlcccog agdcmditg, Lcrg`tcvi W@C\P i ivut c

irg uratmirgog mbcg`tcvg;

i. @rgirgi lg `mdlccc `mapgtctcvg scacoirg pgdtru W@C\Ps oi dcvgo gurmpgid> i`gst mbcg`tcv

ir putgi ec itcds prcd - `ggi sg `mdsclgri d 9387 i ec - iramdczirgi acdcaio i ogfcsoiccomr

dicmdiog> aic trzcu s-i rgioczit ` tmitg stitgog agabrg iog Wdcudcc Gurmpgdg ir trgbuc s

stibcogis` ìlrg lg rgfogagdtirg prcvcdl;

Zmoctc`cog lg cdvgstccc iog W@C\Ps>

\ridspirgdi W@C\Ps>

Ptru`turi c `mdtrmouo i`gstmri.

b. Iscfurirgi udgc prmtg`cc udcemrag c geg`tcvg pgdtru tmc cdvgstctmrcc W@C\Ps.

Pcapocecìrgi airngtcdfuouc, puboc`ctcc c vdzrcomr lg W@C\Ps d ìlruo Wdcudcc Gurmpgdg>

pgdtru rgioczirgi i`gstuc mbcg`tcv, Lcrg`tcvi W@C\P i eùt ud airg pis dicdtg capuddlrgùdmitgrgi autuio i iutmrcziccomr lg eud`cmdirg i i`gstmr emdlurc oi dcvgouo WG . Istego,

mrc`g W@C\P, `mdemra i`gstgc lcrg`tcvg, prcagtg ud piipmrt gurmpgidc pmitg ec vdlut - d

aml ocbgr - d mrc`g ir agabr WG> ds, mrc`g W@C\P trgbucg s sg drgfcstrgzg d iri fizl c

tmtmlit - s sg supud rgfogagdtrcomr c ogfcomr gc> Lcrg`tcvi W@C\P cdscst ` d iri fizl

ilacdcstritmruo/ `mapidci lg aidifgagdt ir trgbuc s iscfurg, `go pucd, `mdlcccog pgdtru

geg`tuirgi pocomr `trg lgcdtmrcc lg tctourc, rsùaprirgi i`gstmri c riabursirgi lg tctourc,

prgùa c dcvgouo dg`gsir lg cdemrairg pgdtru cdvgstctmrcc lcd iri fizl.


9. @irg sudt trsturcog spg`cec`g emdlurcomr autuiog iagrcìdg=

2. @irg sudt trsturcog spg`cec`g W@C\s d Gurmpi=

0. @irg sudt prcd`cpiogog tcpurc lg W@C\s d Gurmpi=


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06

Puair

Wd emdl lg cdvgstctcc/ m `mapidcg lg cdvgstctcc m gdtctitg spg`ciocziti cd `md`gdtrirgi

lcspmdcbcoctitcomr bidgstc cd spg`cio lg oi cdvgstctmrcc cdlcvcluioc sc poisirgi i`gstmri cd

`mdemractitg ù mbcg`tcvuo/ mbcg`tcvgog lg cdvgstctcc idudtitg

I`gstg gdtctitc megri sgrvc`cc lg aidifgagdt i i`tcvgomr ecdid`cirg pgdtru cdvgstctmrcc

cdlcvcluioc, lir sc iotg tcpurc lg cdvgstctmrc (ìrg du lmrgs` m capocìrg lcrg`ti pg pciti ecdid`ciri)

sc ìrg ìuti sgrvc`cc prmegscmdiog lg aidifgagdt i poisiagdtgomr omr.

Uircgtitgi emdlurcomr lgs`hcsg lg cdvgstccc gstg emirtg airg, lup ùa sg pmitg mbsgrvi lcd

pirùrfgrgi amluououc. Lcegrgdgog lcdtrg `gog lmu pcgg `gi iagrcìd c `gi gurmpgid, tcdl

s ecg sgadcecìtcvg, lgc pcii gurmpgid apruaut trsturc iog pcggc iagrcìdg. Zgdtru

sgog`tirgi emdlurcomr lmrctg, trgbucg s sg stulcgzg itgdt lmùagdtgog ìrg dsmgs` iutmrczirgi

i`gstmr emdlurc c prmspg`tgog omr lg gacscudg.

Pir`cdc c tgag `g vmr ec dmtitg

\gai 9;

Gsgu (aix.7 pifcdc) pg tgai; Lcsùtirgi lcegrgdgomr lcdtrg lcvgrsgog tcpurc lg ilacdcstrirg i

poisiagdtgomr cdlcvcluiog ù rgocgeirgi ividtikgomr pg ìrg og prgzcdt emdlurcog lg cdvgstccc ì

iotgrditcv lg poisiagdt

\gragduo lg prglirg vi ec idudit pg poitemra oi d`gputuo sgagstruouc


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08

Bcbocmfrieci amluououc

9. @mrrilm, @.K., Brilemrl, L.K., (2::2) Eudliagdtios me Cdvgstagdts, gl.2, Bcbocmtgì


2. Rgcooy, E.N., Brmwd, N.@., (2:::) Cdvgstagdt Idioyscs idl Zmrtemocm Aidifgagdt,

\hmasmd Ogirdcdf, gl.5, Bcbocmtgì Eiùotcc lg Buscdgss, pif.9:37-9927

0. Rmsg, Zgtgr P., (2:::) Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,



39/65

03

Amluouo CCEmdlurcog d`hcsg lg cdvgstccc.

Hglfg eudls.Gx`hidfg trilgl eudls

udctitgi lg ùrs 6Emdlurcog d`hcsg lg cdvgstccc (òmsgl-gdl)

udctitgi lg ùrs 8Emdlurc lgs`hcsg lg cdvgstctcc vs. Emdlurc cd`hcsg lg cdvgstctcc

udctitgi lg ùrs 3\cpurc lg emdlurc d`hcsg lg cdvgstccc

udctitgi lg ùrs 9:Hglfg eudls

udctitgi lg ùrs 99Gx`hidfg trilgl eudls

P`mp c mbcg`tcvg

P`mp

I`gstg tcpurc lg emdlurc, lcegrctg lg emdlurcog mpgd-gdl, sudt aic pucd pmpuoirg d rdluo

cdvgstctmrcomr cdlcvcluioc. Cd fgdgrio, i`gstg emdlurc tcdl s sg ilrgsgzg uduc duar aic rglus lg

cdvgstctmrc c `rmri oc sg `grg s lgcd ud iduact dcvgo lg cdemrairg d `ggi `g prcvgtg rcsùrcog

oi ìrg sg gxpud prcd geg`tuirgi poisiagdtgomr d istego lg emdlurc. Zg oidfi emdlurcog cd`hcsg lg

cdvgstctcc, cd i`gst amluo sudt prgzgdtitg `tgvi tcpurc spg`ciog lg emdlurc lg cdvgstccc. Gstg

capmrtidt dgogfgrgi friluouc spg`cio lg rcs` ism`cit ù udgog lcdtrg i`gstg emdlurc c trsturcog

spg`ciog iog `gomroiotg.

Mbcg`tcvg urarctg

dgogfgrgi prcd`cpcououc lg eud`cmdirg i emdlurcomr òmsgl-gdl

clgdtcecìrgi trsturcomr spg`cec`g iog i`gstmri

ùdmitgrgi agìdcsauouc ilacdcstrirg c i amluouc lg `mdstctucrg i pmrtmemocuouc

lg cdvgstccc, ìrg st oi bizi i`cudcomr gacsg lg i`gstg emdlurc ùdmitgrgi prcd`cpiogomr trsturc iog hglfg eudls, g`hidfg trilgl eudls c trust

eudls

dgogfgrgi friluouc lg rcs` ism`cit ù hglfg eudls


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du iu vmcg si sg capruautg istego)

Gacscudgi sc rgtrifgrgi i`tcudcomr lg pg pciti sg supud rgfuocomr fgdgriog pgdtru PI

I`tcudcog omr pmt ec `mtitg pg pcgtgog burscgrg

Fril rgoitcv rglus lg pmpuoirctitg

\cp lg emdl (`mapidcg lg cdvgstctcc) iog ìruc/ ìrgc i`tcudc sg pmt tridzi`tcmdi pg m pciti

burscgri

Lcspudg, ì sc emdlurcog lgs`hcsg, lg ud aidifgagdt prmegscmdcst

Zmrtmemocuo emdluouc gstg `mdstctuct cd `md`mrlidti ù mbcg`tcvgog lg cdvgstctcc prgvizutg cd

prmspg`tuo lg gacscudg

Zrgtuo i`tcudcomr emdluouc sg bizgizi pg ripmrtuo `grgrg/ megrti

@mapidccog d`hcsg lg cdvgstccc iu iprut d Gurmpi oi d`gputuo sg`mououc 93 c s -iu lgzvmotit d

Idfoci c P`mci d pgrcmili 9850-9856, i`mom udlg emdlurcog d`hcsg lg cdvgstccc sudt pmpuoirg

c istzc. Oi serctuo sg`mououc 93, emdlurcog d`hcsg iu iprut c d PWI, udlg iu itcds ud vre io


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44/65

istego;

Emdlurc lg i`tcudc

Cdtgrditcmdiog

Fombiog

Rgfcmdiog

Lg tiri

Zoisitg oi dcvgo ditcmdiofgdgriog Zoisitg oi dcvgo ditcmdiolg sg`tmr


Cdtgrditcmdiog

Fombiog

Zoisitg oi dcvgo ditcmdiocapmzctibcog

Zoisitg oi dcvgo ditcmdiocd mbocfitcudc audc`cpiog

d PWI, gxcst lmu airc ìtgfmrcc lg emdlurc d`hcsg emdlurcog lg i`cudc c emdlurcog lg

mbocficudc. Gog du sudt itt lg lcvgrscecìtg prgùa emdlurcog lgs`hcsg, ivdl m fia aic rglus

lg poisiagdtg. \mtuc, d ìlruo i`gstmr oirfc ìtgfmrcc lg i`tcvg, emdlurcog d`hcsg c `mdstrucgs`

pmrtmemocc lcvgrscecìtg, uradl pmoctc`c lg cdvgstccc ìrg sudt frgu lg rgprmlus oi dcvgouo

cdvgstctmrcomr cdlcvcluioc.

Iotg ìtgfmrcc lg emdlurc d`hcsg sudt;

emdlurc dgcapmzctitg (audc`cpiog); i`gstgi, ii ùa dg sufgrgiz c lgduacrgi, ìut s

cdvgstgis` d mbocficudc gacsg lg ilacdcstriccog c ifgdccog omìog c lg stit, sùtctg lg

capmzct. emdlurc capmzibcog; d i`gist ìtgfmrcg sg cdòul emdlurcog lg vgdct c emdlurcog lg

i`cudc, prgùa c emrag hcbrclg, ìrg `mabcd `gog lmu subìtgfmrcc. Emdlurcog

capmzibcog cdvgstgs` d mbocficudc c iotg cdstruagdtg lg `rglct; tctourc cpmtgìrg,

mbocficudc fuvgrdiagdtiog, mbocficudc `mrpmritcvg, i`cudc prgegrgdciog. Wdgog emdlurc


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46/65


47/65

pmt s rgioczgzg vdzrc lgs`mpgrctg c sg pmt apruauti dtr-m

asur aic airg lg`t iotg cdstctucc lcd ìtgfmrci emdlurcomr lg cdvgstccc.

Lgmirg`g iu i`gstg pmscbcoctc lg i sg lgs`mpgrc d rgioczirgi tridzi`ccomr c prcd dituri omr sgidfikgiz d cdvgstccc rcsìdtg, emdlurcog hglfg pmt `rgi ac`rc brutg iog pcggc c pmt prmvmì

iotg cdstctucc s i`cmdgzg d i`ggic aidcgr. Lg isgagdgi, pg pcggog d s`lgrg, emdlurcog

hglfg pmt lgvgdc emirtg vuodgribcog litmrct friluouc rclcìt lg dlitmrirg.

Lgduacrgi lg hglfg du sg rgegr, dgiprit, oi eiptuo ì emdlurcog c prmtgkgiz cdvgstcccog

apmtrcvi ac`rcomr ilvgrsg iog pcggc> tgragduo gstg utcoczit pgdtru i og lcstcdfg lg iotg tcpurc

rgfogagdtitg lg emdlurc; `gog autuiog c `gog lg pgdscc.

Lcd pud`t lg vglgrg io stru`turcc ogfiog, i`gisti gstg lgtgracdit lg aglcuo ecsìo io cdvgstctmrcomr.

Istego, auotg lcdtrg emdlurcog hglfg iu rgglcdi ogfio d ieiri fridcgomr, d rc ìrg du iu

ogftur ù aidifgruo lg emdl, i`tcvctcog lg poisiagdt siu cdvgstctmrcc, mbcg`tcvuo eccdl i`goi lg

i sùtc emdluo lg poiti capmzctgomr, i`gisti rgvgdcdl lmir cdvgstctmrcomr. Emdlurcog sudt

ilacdcstritg lg `mapidcc lg aidifgagdt spg`cioczitg d emdlurc hglfg, ìrg pmt ivgi sub

fgstcudg uduo siu aic auotg emdlurc, lmac`cocitg d auotcpog kurcslc`cc.

d `ggi `g prcvgtg lcegrgdgog emdlurcomr hglfg ei lg emdlurcog autuiog, i`gstgi ir ec;

emdlurcog autuiog sudt rgfogagdtitg lg PG@, d tcap `g emdlurcog hglfg pmt ec gx`gptitg lg oi

i`gstg rgfogagdtrc> gxcst iapog lcsùcc ogfitg lg dg`gsctitgi rgfogagdtrcc emdlurcomr hglfg.

Cdvgstctmrcc d emdlurcog hglfg trgbucg s ecg cdvgstctmrc i`rglctic> prcdtrg i`gtci sg pmt duari

poidurcog lg pgdscc, iotg cdstctucc ecdid`cirg siu cdlcvczc bmfic.

Emdlurcog autuiog trgbucg s icb m bud oc`hclctitg c s lgtgracdg zcodc` viomirgi udctir i

i`tcvuouc dgt, ìrg rgprgzcdt prguo tctourcomr i`gstmri. Emdlurcog hglfg du iu istego lg `grcdg.


48/65

emdlurcog hglfg du sg supud

i`gstmr `grcdg.

Zmpuoirctitgi emdlurcomr hglfg sg litmrgiz pmscbcoctcomr aic airc lg `tcf pg ìrg og megr d

`mapiricg ù ìzuo emdlurcomr autuiog> lgscfur, poisiagdtuo d i`gstg emdlurc prgsupudg ud

fril lg rcs` auot aic rclcìt.

@rczi ecdid`cir lcd 2::6-2::3 i ieg`tit putgrdc` emdlurcog lg tcp hglfg, litmrct cdvgstcccomr

emirtg rcsìdtg geg`tuitg lg i`gstgi, aic iogs d prmlusg ecdid`cirg stru`turitg.


9. @irg sudt trsturcog lcstcd`tcvg iog emdlurcomr lg tcp hglfg=

2.

@irg sudt ividtikgog poisiagdtgomr d i`gstg emdlurc=

0. @irg sudt lgzividtikgog poisiagdtgomr d i`gstg emdlurc=

sg rgioczgizi cd

bomùrc (omturc) prglgtgracditg ì lcagdscudg (lg aircag stidlirlcziti)


49/65

tridzi`tcmditi oi IAGX scabmo LCI> megri

lgtcdgrc eri`tcmdirg i pmrtmemocuouc lg 0: lg i`tcudc ìrg `mapud LKCI

PZLRs (PZCLGRP)

Ptidlirl & Zmmrs Lgpmsctmry Rg`gcpts> urairgstg cdlc`gog P&Z 7::>

ecgìrg tctou rgprgzcdti 9/9: lcd pmrtmemocuo cdlc`gouc sc sg tridzi`tcmdgizi

oi iprmx.9/9: lcd viomirgi cdlc`gouc

YWGBs

Wrairgs` pciti DIPIY

UCZGRP

Wrairgs` Uidfuirl Cdlgx

Lgduacrgi vcdg lg oi Uidfuirl Cdlgx Zirtc`cpitcmd Rg`gcpts

VGBP

Vmrol Gqucty Bgd`hairn Pgrcgs> oidsit 9335

\ridzi`tcmdit oi IAGX

Wrairgstg cdlc`cc cdtgrditcmdiom lg oi Amrfid Ptidogy (Amrfid Ptidogy

@ipctio @mudtry Cdlgxgs)

Wotri G\Es

òisg lg G\Es oidsiti pg pciti cd 2::5, itct pgdtru i urairc itct cdlc`cc lg airc

lcagdscudc (P&Z 7:: sc Russgo 2:::), lir sc cdlc`c lg sg`tmr

emomsgs` cdlitmrirgi pgdtru i luboi rgdtibcoctitgi eiti lg amlgouo lg rgegrcdti

(cdlc`cc aic sus iacdtctc)


9. @g sudt G\Es=

2. @irg sudt prcd`cpiogog tcpurc lg G\Es=


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Puair

Itt d Ptitgog Wdctg iog Iagrc`cc `t c d Gurmpi, sg`tmruo emdlurcomr d`hcsg gstg auot aic pucd

gxtcds lg`t `go io emdlurcomr lgs`hcsg. \mtuc d PWI, udlg sg aidcegst aic pucd

`mdsgrvitmrcsa d rdluo cdvgstctmrcomr lg`t pg `mdtcdgdtuo Gurmpgid, emdlurcog d`hcsg tcdl s

ùdmis` m lgzvmotirg aic prmdudit. d Gurmpi, sub uabrgoi emdlurcomr d`hcsg sg ilpmstgs`

lcvgrsg emrag lg emdlurc, emirtg vircitg lg oi ir oi ir, cir stitcstc`cog sg rgegr oi dtrgfuo

sg`tmr, er i ei`g m lcegrgdcgrg òir dtrg ìtgfmrccog pg ìrg og rgprgzcdt.

Ecgìrg lcdtrg emdlurcog prgzgdtitg aic sus i emst `rgit pgdtru i rispudlg udmr dgvmc spg`ciog

gxprcaitg lg cdvgstctmrc sc ìrg du sudt sitcseiùtg lg emdlurcog lgs`hcsg sc dc`c lg `gog cd`hcsg lg

cdvgstctcc


\gai 2;@mdsuotic wgbsctg-uo Bursgc lg Uiomrc Buùrgtc (www.bvb.rm) c d`grìc s clgdtcecìcli` c pg i`gist pci gxcst G\Es.



9. @mrrilm, @.K., Brilemrl, L.K., (2::2)Eudliagdtios me Cdvgstagdts, gl.2, Bcbocmtgì


2. Rmsg, Zgtgr P., (2:::)Amdgy idl @ipctio Airngts, CRVCD/A`Friw-Hcoo, gl.6,



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Amluouo CCC\rusts

Emdlurcog lg pgdscc

udctitgi lg ùrs 92 - \rusts

udctitgi lg ùrs 90Emdlurcog lg pgdsccprcd`cpcc lg mrfidczirg c eud`cmdirg

udctitgi lg ùrs 9


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udctitgi lg ùrs 92\rustsPcdtgz

Wdct cdvgstagdt trust (WC\)

\RWP\ 1 m rgoitcg eclu`ciri (`mdvgdtcmdioi) cd ìlruo ìrgci udi lcd pirtc (trustmr) li

udgc iotg pirtc (trustgg) lrgptuo si lgtcdi i`tcvgog sc/ siu prmprcgtitcog siog cd s`mpuo lg i

og ilacdcstripgdtru bgdgec`cuo udgc tgrtg pirtc (duacti sc bgdgec`cir)

Zrcai emrai lg mrfidczirg i emdlurcomr lg cdvgstctcc i emst `gi lg trust

Wdct trustlgduacrg emomscti aic iogs cd WN

@mdsclgriti m emrai spg`cioi lg emdl lgs`hcs (mpgd-gdl)

Zrcd`cpioi lgmsgbcrg eiti lg ud emdl lgs`hcs/ autuio i`ggi ì du rgcdvgstgstg `cstcfurcog

mbtcdutg lcd poisiagdtgog geg`tuitg

Wdct cdvgstagdt trust `mdsclgriti lg PG@ udi lcdtrg `gog 0 emrag prcd`cpiog iogemdlurcomr lg cdvgstctcc (`mapidccomr lg cdvgstctcc) ioiturc lg emdlurcog lgs`hcsg (mpgd-

gdl) sc lg `gog cd`hcsg (òmsgl-gdl)

Isgaidirc ù emdlurcog lgs`hcsg (autuiog)

Gactg tctourc (udctitc) `g sg pmt risùapiri> viomirgi tcpcì i udgc istego lg udctitc

gstg lg 9::: WPL

Aidifgagdtuo gstg uduo iscfurit lg prmegscmdcstc

Lgmsgbcrc eiti lg emdlurcog autuiog/ lgs`hcsg

Wdctitcog (tctourcog) du sudt gacsg cd aml `mdtcduu> gacscudgi sg ei`g m scdfuri

litioi cd`gput

Mrc`g WC\ sg `mdstctucg pgdtru m pgrcmili lgtgracditi lg tcap> cd amagdtuo

oidsircc sg stibcogstg liti ecdioilg oc`hclirg

Zmrtmemocuo cd ìrg sg poisgizi bidcc riacdg rgoitcv ecx pg tmiti luriti lg gxcstgdti

i WC\> ù emirtg rirg gx`gptcc du sg ei` ùapirirc/ rgvcdzirc lg i`tcvg cd

pmrtmemocu

Ugdcturcog mbtcdutg (pgrcmlc`) lcd poisiagdtg sudt lcstrcbuctg cdvgstctmrcomr

Oi liti ecdioi, viomrcog ambcocirg lcd pmrtmemocu sc cdìsircog mbtcdutg sg lcstrcbucg

cdvgstctmrcomr


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Wdc t C dvgstagdt \rusts(udct trustsiuecxgl-udct cdvgstagdt trust) sudt m iot emra lg mrfidczirg

i `mapidccomr d`hcsg lg cdvgstccc, bizitg pg i`gogic ogfc ì c emdlurcog autuiog c emdlurcog

d`hcsg. Gog sudt `mdstctuctg lg sm`cgtcog lg brmngrik c sudt vdlutg cdvgstctmrcomr d udctc lg

9,::: WPL, agdcddl ud pmrtmemocu ecx lg viomrc ambcocirg. Zmrtmemocuo udct trusts gstg `mdstctuct

istego d`t s urargis` ud mbcg`tcv lg cdvgstccc spg`cec`, ùa ir ec - lg gxgapou - eurdczirgi lg

vgdct lcd lmbdzc, ìz d ìrg bidcc sg vmr poisi d mbocficudc fuvgrdiagdtiog c/ siu

`mrpmritcvg, audc`cpiog, prgùa c d apruauturc cpmtgìrg. Wd WC\ gstg m cdvgstccg piscv,

lgmirg`g i`tcvgog siog du sudt tridzi`cmditg, `c dfhgitg. Gstg vmrbi lg ud pmrtmemocu

dgilacdcstrit, d ìlruo `ruci du iu om` i`hczccc uotgrcmirg lg viomrc ambcocirg, cir `gog gxcstgdtg

sudt rirgmrc vdlutg. @dl WC\ sg lczmov - oi liti stibcoct pgdtru oc`hclirg d` lg oi `rgirgi

trustuouc - lcspmdcbcoctcog sudt vcritg d `mdturcog cdvgstctmrcomr. Wd WC\ du irg ud `mdscoculcrg`tmr, ud `mdsuotidt lg cdvgstccc c dc`c idfikic prmprcc. @i c d ìzuo emdlurcomr autuiog,

tctourcog sudt rsùapribcog d mrc`g zc ou`rtmirg. Lg rgfuo, ud WC\ vi ei`g m scdfur megrt

puboc` pgdtru ud duar spg`cec`, ecx, lg udctc (ì c d ìzuo emdlurcomr d`hcsg). Auoc spmdsmrc

ic WC\ agdcd, tmtuc, m pci sgùdlir pgdtru i`gstg udctc ù s`mpuo lg i pgractg

pirtc`cpidcomr/ pmsgsmrcomr lg udctc s og vdl dipmc spmdsmrcomr ìrg oi rdluo omr - og vmr

vcdlg ipmc iotmr cdvgstctmrc.


9. @g sudt WC\s=

2. @irg sudt prcd`cpiogog omr ìri`tgrcstc`c=

0. @rglgc ` istego lg cdstruagdtg ecdid`cirg ir putgi lgvgdc pmpuoirg pubocùouc

cdvgstctmr lcd Rmadci=


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Ir stcauoi `rgtgrgi g`mdmac` prcd cdvgstcrgi suagomr i`uauoitg>


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Ir `mdtrcbuc oi lgzvmotirgi pcggc lg ìpctio (i`tcvgog cambcoczitg `rgs` c sprckcd lgzvmotirgi

udmr prmcg`tg airc lg cdvgstccc)>

Ir putgi `mdtrcbuc oi `rgirgi lg dmc omùrc lg aud` c, capoc`ct, oi rglu`grgi maikuouc.

Lgc dg`gsctitgi ipirccgc c lgzvmotrcc i`gstmr mrfidcsag gstg gvclgdt, radg lg vzut li`

emdlurcog prcvitg - cdvgstctmrc cdstctucmdioc trilccmdioc pg tgragd oudf - c vmr fsc omùo dtr-ud

pgcsik ecdid`cir prgìr lcd pud`t lg vglgrg io cdstruagdtgog ecdid`cirg pg tgragd aglcu c oudf.


9. Ibgy, I., Fgraid, @., Hcffcds, G., (2::9) Emrtudg stritgfy,Zrgdtc`g Hioo, Bcbocmtgì

Eiùotcc lg Buscdgss, pif.980-295

2. Bmlcg, [., Nidg, I., Airùs, I.K. (9333) Cdvgstagdts, CRVCD/A`Friw-Hcoo, gl.


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\gai 0;Gsgu (aixca 6 pf) pg tgai; stilcuo i`tuio lg lgzvmotirg i emdlurcomr prcvitg lg pgdscc c iemdlurcomr eiùotitcvg lg pgdscc d Rmadci


Puair

I`gst amluo i lmrct s rgioczgzg m prgzgdtirg su``cdt i pcggc emdlurcomr lg cdvgstccc d PWI c

Gurmpi, lg eipt `gog aic airc pcgg lcd ouag. @mapiriccog dtrg `gog lmu pcgg sudt rgoitcv frgu

lg rgioczit lcd ìuzi dìlrrcomr lcegrctg iog emdlurcomr. Cd prgzgdt, d Gurmpi, sg ou`rgiz oi m

òiscecìrg udctir i emdlurcomr lg cdvgstccc pgdtru ì litgog lcspmdcbcog s pgract idioczg lg m

aic airg iùritgg.

Bcbocmfrieci amluououcwww.c`c.mrfwww.geiai.mrfwww.udmp`.rm
http://www.ici.org/http://www.ici.org/http://www.efama.org/http://www.efama.org/http://www.unopc.ro/http://www.unopc.ro/http://www.unopc.ro/http://www.efama.org/http://www.ici.org/


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0. Idgxg

Fomssir lg tgragdc

Emdlurc lg cdvgstctcc`mapidcc lg cdvgstctcc 1 Wd emdl lg cdvgstctcc/ m `mapidcg lg cdvgstctcc

m gdtctitg spg`ciocziti cd `md`gdtrirgi lcspmdcbcoctitcomr bidgstc cd spg`cio lg oi cdvgstctmrcc

cdlcvcluioc sc poisirgi i`gstmri cd `mdemractitg ù mbcg`tcvuo/ mbcg`tcvgog lg cdvgstctcc idudtitg

Zmrtmemocu1 m `mabcditcg lg acdca lg 2 i`tcvg ecdid`cirg/ viomrc ambcocirg, `mdstctuct pgdtru

lcvgrscìrgi rcsùouc sc mbtcdgrgi udgc iduactg rgdtibcoctitc

Mbcg`tcvgog lg cdvgstctcc`mabcditg, lg tcp; vgdct ecx, rgdtibcoctitg rclcìti, prmtg`tcg

Ptritgfcg lg cdvgstctccstibcocrgi amluouc lg iomìrg i suagomr lcspmdcbcog cdtrg lcvgrsg tcpurc

lg i`tcvg lg pg pciti> sg emrauogizi pg bizi mbcg`tcvgomr lg cdvgstctcc sc i `mdlctccomr

ai`rmg`mdmac`g

\RWP\1 m rgoitcg eclu`ciri (`mdvgdtcmdioi) cd ìlruo ìrgci udi lcd pirtc ( trustmr) li udgc iotg

pirtc (trustgg) lrgptuo si lgtcdi i`tcvgog sc/ siu prmprcgtitcog siogcd s`mpuo lg i og ilacdcstri

pgdtru bgdgec`cuo udgc tgrtg pirtc (duacti sc bgdgec`cir)


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