1. terms of reinsurance agreements

8/10/2019 1. Terms of Reinsurance Agreements

1/19

Cbmptkr 8

XK\IS FA \KGDS[\MDCK MJ\KKIKDXS

KR^\KSS MDH GI^OGKH XK\IS GD \KGDS[\MDCK MJ\KKIKDXS

Kxprkss tkrisXbk tkris fa m rkgdsurmdck mjrkkikdt hkpkdh upfd gts dmturk. M rkgdsurmdck trkmty imy lk m okdjtby mdh cfipokx hfcuikdt fr gt imylk rkomtgvkoy sbfrt. Gt gs tf m omrjk kxtkdt mhigdgstrmtgvk, skttgdj fut tbk iktbfh fa cmocuomtgdj ofssks mdh prkiguis mdh tbkgdafrimtgfd tf lk prfvghkh ly tbk rkgdsurkh tf tbk rkgdsurkrs mt vmrgfus tgiks. Gt wgoo mosf usumooy cfdtmgd sfik prfvgsgfd mutbfrgsgdjtbk rkgdsurkrs tf gdspkct tbk rkgdsurkhs lffes mdh rkcfrhs. M amcuotmtgvk rkgdsurmdck mjrkkikdt imhk gd tbk Ofdhfd imrekt gs ogekoytf lk m vkry sbfrt hfcuikdtfatkd kxprksskh ms m sogp pfogcy (skk Cbmptkr :

CBM^XK\ 8 XK\IS FA \KGDS[\MDCK MJ\KKIKDXS

\flkrt Ikregd


2/19

tbmt tbk pomgdtgaas wfuoh mct ms pruhkdt rkgdsurkhs afr tbgs purpfsk. Xbfsk hutgks rkqugrk tbk pomgdtgaas gdtkr mogm tf0

(m) ekkp auoo mdh prfpkr rkcfrhs mdh mccfudts fa moo rgses mcckptkh fr prkiguis rkckgvkh mdh rkckgvmlok mdh moo comgis imhkfr dftgagkh5

(l) gdvkstgjmtk moo comgis mdh cfdagri tbmt tbky akoo wgtbgd tbk tkris fa tbk cfdtrmct mdh wkrk prfpkroy pmymlok lkafrkmcckptgdj tbki5

(c) prfpkroy gdvkstgjmtk rgses faakrkh tf tbki lkafrk mcckptmdck mdh cofsgdjs rkomtgdj tbkrktf sulskqukdtoy5

(h) ekkp auoo mdh prfpkr mccurmtk mccfudts sbfwgdj mt moo tgiks tbk mifudts huk mdh pmymlok ly tbk pomgdtgaas tf tbkhkakdhmdts mdh ly tbk hkakdhmdts tf tbk pomgdtgaas udhkr tbk cfdtrmcts5(k) kdsurk tbmt moo mifudts fwgdj tf tbki wkrk cfookctkh prfiptoy wbkd huk mdh kdtkrkh afrtbwgtb gd tbkgr mccfudts, mdh moo

lmomdcks fwgdj tf tbk hkakdhmdts wkrk ogekwgsk pmgh prfiptoy wbkd huk5(a) fltmgd, agok fr ftbkrwgsk ekkp gd m prfpkr imddkr, moo mccfudtgdj comgis mdh ftbkr hfcuikdts mdh rkcfrhs mdh imek tbksk

rkmsfdmloy mvmgomlok tf tbk hkakdhmdts.

Xbgs hkcgsgfd wms mt fdk tgik wghkoy mcckptkh ms mppoygdj tf flogjmtfry cfdtrmcts ms wkoo ms tf amcuotmtgvk flogjmtfry cfdtrmcts.^bfkdgx v. Bmovmdfd bms, bfwkvkr, rkckdtoy lkkd hfultkh ly Ifrgsfd @. mdh tbk Cfurt fa Mppkmo gd Lfddkr v. Cfx HkhgcmtkhCfrpfrmtk Ikilkr OthU>1Y Oofyhs \kp G\ 32;.

Lfddkrv. Cfx Hkhgcmtkh Cfrpfrmtk Ikilkr OthU>1Y Oofyhs \kp G\ 32;

Xbk comgimdts wkrk Oofyhs Sydhgcmtks wbfsk lusgdkss gdcouhkh wrgtgdj rgses gd tbk kdkrjy imrekt. Xbky sulscrglkh tf md Fpkd Cfvkr afr tbk =777

ykmr, fpkrmtkh ly Mfd. [dhkr tbk Cfvkr tbk sulscrglkrs mjrkkh tf lk lfudh ly rgses mcckptkh ly tbk okmhgdj udhkrwrgtkr. Xbk =777 ykmr wms rkgdsurkh

ly twf rkgdsurkrs. M duilkr fa hgsputks mrfsk lktwkkd tbk rkgdsurkhs mdh tbk rkgdsurkrs. Xbk rkokvmdt gssuk afr prkskdt purpfsks wms tbk msskrtgfd fa

tbk rkgdsurkrs tbmt tbk sulscrglkrs tf tbk Cfvkr bmh kdjmjkh gd wrgtgdj mjmgdst tbk rkgdsurmdck, gk, tbky bmh wrgttkd fd tbk lmsgs tbmt rkgdsurmdck wms

gd kxgstkdck sf tbmt tbkrk wms df dkkh tf flskrvk pruhkdt stmdhmrhs fa udhkrwrgtgdj. Ifrgsfd @. gd md gipfrtmdt pmssmjk gd bgs ùhjikdt rk`kctkh tbk

dftgfd tbmt tbk rkgdsurkh udhkr md kxckss fa ofss cfdtrmct fwks mdy huty fa cmrk fr cfdtgdugdj huty fa jffh amgtb tf tbk rkgdsurkrs, mdh tbmt tbk

flogjmtgfds fa tbk rkgdsurkh wkrk ogigtkh tf gipogkh tkris gd rkspkct fa0 (m) kxkrcgsgdj sfik ùhjikdt gd tbk mcckptmdck fa rgses (kvkd ga tbmt ùhjikdt

wms igscfdckgvkh)5 (l) mctgdj bfdkstoy5 mdh (c) mcckptgdj rgses wbgcb wkrk dft gdtkdhkh tf amoo wgtbgd tbk tkris fa tbk rkgdsurmdck (motbfujb tbgs

imttkr wms fatkd fdk fa prk-cfdtrmct hgscofsurk). Xbkrk wkrk df aurtbkr flogjmtgfds, mdh tbk dftgfd tbmt wrgtgdj mjmgdst rkgdsurmdck wms m lrkmcb fa

huty wms igscfdckgvkh ms tbk vkry ksskdck fa rkgdsurmdck wms tbmt tbgs wfuoh fccur. Gd sf hkcghgdj, Ifrgsfd @. hgstgdjugsbkh prfpfrtgfdmo arfi

dfd-prfpfrtgfdmo rkgdsurmdck, motbfujb bk hgh cmst sfik hfult fd tbk dftgfd tbmt kvkd m rkgdsurkh udhkr m prfpfrtgfdmo cfdtrmct igjbt fwk vmrgfus

gipogkh hutgks tf tbk rkgdsurkrs (ms bkoh gd ly Bflbfusk @. gd ^bfkdgx v. Bmovmdfd U=72;Y < Oofyhs \kp. ;77). Xbk Cfurt fa Mppkmo mjrkkh wgtb

Ifrgsfd @. fd tbgs imttkr. Xbk Cfurt fa Mppkmo wms fa tbk vgkw tbmt ^bfkdgx wms cfdckrdkh wgtb m amcuotmtgvk flogjmtfry quftm sbmrk mjrkkikdt, m

cfdtrmct wbgcb cfdtkipomtkh m sbmrgdj fa rgse. Xbk prkskdt cmsk, ly cfdtrmst, wms kxckss fa ofss wbgcb hgh dft gdvfovk mdy sbmrgdj mdh df pmyikdt tf

tbk rkgdsurkh afr wrgtgdj gt. Xbk Cfurt fa Mppkmo bkoh tbmt tbk gipogkh tkris gd Bmovmdfdhgh dft fpkrmtk gd rkspkct fa kxckss fa ofss rkgdsurmdck, mdh

tbmt mdy sucb gipogcmtgfd wms gdcfdsgstkdt wgtb skctgfd ;;(1 udhkr wbgcb m pfogcybfohkr cmd rkcfvkr kvkd

tbfujb bk bms lkkd dkjogjkdt0 tbk tfucbstfdk fa mdy pfssglok hkakdck wfuoh bmvk tf lk rkceokssdkss. Xbk Cfurt fa Mppkmo wkdt fd tf rk`kct Ifrgsfd

@.s ifrk ogigtkh gipogkh tkris. Xbk Cfurt fa Mppkmo aurtbkr dftkh tbmt ga tbkrk wkrk gipogkh tkris lgdhgdj tbk rkgdsurkh tbkd tbk rkgdsurkrs igjbt lk

sul`kct tf sgigomr tkris gd rkspkct fa mdy rktrfckssgfd, mdh tbmt pfgdt msghk tbkrk wfuoh lk cfipokx gssuks gd hkcghgdj bfw hmimjks igjbt lk mssksskh

afr tbk lrkmcb fa tbk hutgks. Gts cfdcousgfd wms tbmt tbkrk wkrk df gipogkh tkris gd dfd-prfpfrtgfdmo rkgdsurmdck, motbfujb tbk Cfurt fa Mppkmo hgh dft

tmek tbk aurtbkr stkp fa fvkrruogdj ^bfkdgxlkcmusk tbmt cmsk wms cfdckrdkh wgtb prfpfrtgfdmo rkgdsurmdck. Mt prkskdt, tbkrkafrk, tbk omw gs hgaakrkdt ms

lktwkkd prfpfrtgfdmo mdh dfd-prfpfrtgfdmo rkgdsurmdck. Xbk Cfurt fa Mppkmo mhhkh tbmt fd tbk amcts tbkrk wms df lrkmcb fa mdy gipogkh huty gd mdy

kvkdt.

M tkri imy dft lk gipogkh ga gt ruds cfdtrmry tf wbmt bms mctumooy lkkd mjrkkh ly tbk pmrtgks. Gt wms tbus bkoh gd JK \kgdsurmdckCfrpfrmtgfdv. Dkw Bmipsbgrk Gdsurmdck Cf. U>8Y Oofyhs \kp. G\ 8>8(skk tbk auoo hgscussgfd lkofw) tbmt tbkrk wms df gipogkhtkri gd m rkgdsurmdck mjrkkikdt tbmt tbk rkgdsurkrs wfuoh dft rkoy upfd m hkakdck skt fut gd tbk rkgdsurmdck mjrkkikdt wbgcb wmsudmvmgomlok tf tbk rkgdsurkh ms mjmgdst tbk hgrkct pfogcy bfohkr.

GDCF\^F\MXGFD MDH XBK A[OO \KGDS[\MDCK COM[SK

Xbk cfdckpt fa gdcfrpfrmtgfdZfrhgdjsXbk ifhkrd wfrhgdj, tbk auoo rkgdsurmdck comusk, gs typgcmooy gd tbk afoofwgdj afri0

Lkgdj m rkgdsurmdck fa mdh wmrrmdtkh smik jrfss rmtk, tkris mdh cfdhgtgfds ms mdh tf afoofw tbk skttokikdts fa tbk cfipmdy mdhtf afoofw tbk skttokikdts

M J[GHK XF \KGDS[\MDCK OMZ - =st Khgtgfd, >:


\flkrt Ikregd


3/19

Xbgs rkpomckh tbk kmrogkr afriuomtgfd0

Sul`kct tf tbk smik tkris mdh cfdhgtgfds ms tbk frgjgdmo mdh tf pmy ms imy lk pmgh tbkrkfd.

Motbfujb tbkrk gs iucb mutbfrgty, gd tbk cfdtkxt fa tbk gdcfrpfrmtgfd fa tbk tkris fa agrst omykr hgrkct pfogcgks gdtf kxckss omykrhgrkct pfogcgks, tbmt tbk pbrmsk wmrrmdtkh smik jrfss rmtk, tkris mdh cfdhgtgfds crkmtkh m wmrrmdty tbmt tbk tkris fa tbk agrst omykrpfogcy wkrk cfdsgstkdt wgtb tbk mssurkhs rkprkskdtmtgfds (Lmrdmrhv. Amlkr U=273Y = ].L. 38>5 Zmoekr & Sfds v. [zgkoog (=271) =Cfi. Cms. 87=) =: X.O.\. 8


4/19

ogmlgogty tf tbk mssurkh. Zbkrk tbgs typk fa gdcfrpfrmtgfd gs mt stmek, tbkrk gs df dkkh tf imdgpuomtk tbk wfrhgdj fa tbkgdcfrpfrmtkh comusk ms gt imeks pkrakct skdsk ms gt stmdhs.

Xbgs hgstgdctgfd wms hrmwd afr tbk agrst tgik ly \gx O.@. gd BGBv. Dkw Bmipsbgrk.

BGB Cmsumoty mdh Jkdkrmo Gdsurmdck Othv. Dkw Bmipsbgrk Gdsurmdck Cf.U>=Y Oofyhs \kp. G\ ;71

Xbk hgrkct pfogcgks wkrk gssukh tf agdmdcgmo gdstgtutgfds wbf bmh gdvkstkh gd agoi prfhuctgfd cfipmdgks. [dhkr tbk pfogcgks, gd tbk kvkdt tbmt tbk

prfhuctgfd cfipmdgks wkrk udmlok tf rkpmy tbk ofmds arfi tbk agdmdcgmo gdstgtutgfds fd m jgvkd hmy, tbk gdsurkr wms tf imek jffh tbk sbfrtamoo. Xbk

hgrkct pfogcgks cfdtmgdkh m wmgvkr fa rgjbts comusk wbgcb stmtkh tbmt tbk gdsurkr wfuoh dft mvfgh fr rkscgdh tbk pfogcy fr rk`kct mdy comgi fd tbk jrfudh

fa igsrkprkskdtmtgfd fr dfd-hgscofsurk ly tbk mssurkhs dmikh lrfekrs. Xbk gdsurkr rkgdsurkh wgtb rkgdsurkrs udhkr md mjrkkikdt stmtkh tf lk ms

frgjgdmo. Gt wms mookjkh ly tbk rkgdsurkrs tbmt amosk stmtkikdts bmh lkkd imhk tf tbki ly tbk rkgdsurkhs lrfekrs mdh tbk rkgdsurkrs purpfrtkh tf mvfgh

tbk pfogcy. Xbk rkgdsurkh mrjukh tbmt tbk wmgvkr fa rgjbts comusk bmh lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck, mdh tffe kaakct ms m wmgvkr fa rgjbts

lktwkkd tbk rkgdsurkrs mdh tbk rkgdsurkh matkr gts wfrhgdj bmh lkkd imdgpuomtkh tf agt tbk rkgdsurmdck cfdtkxt.

Bkoh(C.M.)0 tbmt tbk wmgvkr fa rgjbts comusk hgh dft prftkct tbk rkgdsurkh.

(=) Gt wms tbk cmsk tbmt tbk wmgvkr fa rgjbts comusk bmh lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck0 gt wms jkrimdk tf rkgdsurmdck5 gt cfuoh lk jgvkd

ikmdgdjauo cfdtkdt mt tbk rkgdsurmdck okvko5 tbkrk wms dftbgdj gdcfdsgstkdt wgtb tbk comusk gd tbk rkgdsurmdck mjrkkikdt gtskoa5 mdh tbk comusk wms

mppfsgtk mt tbk rkgdsurmdck okvko.

(


5/19

Bkoh0 tbmt tbk rkgdsurkrs wkrk ogmlok. Xbk tkris fa tbk hgrkct pfogcy hkagdgdj tbk bfikwmrh vfymjk lfudh tbk rkgdsurkrs.

Jkdkrmo Gdsurmdck Cf. fa Xrgkstk Othv. Cfrpfrmtgfd fa tbk \fymo Kxcbmdjk (=27:) < Cfi. Cms. =88

Xbk hgrkct pfogcy cfvkrkh cmrjf hurgdj tbk cfursk fa ofmhgdj mdh fd gts sulskqukdt vfymjk. Xbk pfogcy hkagdkh cmrjf fd kmcb ogjbtkr afr ofmhgdj tf lk m

skpmrmtk rgse. Xbk gdsurkrs rkgdsurkh mdh tbk rkgdsurkrs kdtkrkh gdtf m rktrfckssgfd mjrkkikdt. Xbk rktrfckssgfd wms mjmgdst tftmo ofss fdoy motbfujb wms

ftbkrwgsk sul`kct tf tbk tkris, comusks mdh cfdhgtgfds fa tbk frgjgdmo pfogcy. M agrk tffe pomck fd tbk vkssko, hkstrfygdj tbk cmrjf tbkd fd lfmrh.

Bfwkvkr, cmrjf wbgcb bmh ykt tf lk ofmhkh mdh wbgcb wms stgoo fd ogjbtkrs wms udmaakctkh. Xbk rktrfckssgfdmgrks rkauskh tf imek pmyikdt ms tbkrk bmh

lkkd fdoy m pmrtgmo ofss fa tbk cmrjf ms m wbfok.

Bkoh0tbmt tbk rktrfckssgfdmgrks wkrk ogmlok. Xbk tkris fa tbk hgrkct pfogcygdcouhgdj tbk prfvgsgfd tbmt cmrjf fd ogjbtkrs wms m skpmrmtk rgsetffe

kaakct gd tbk rktrfckssgfd. Gt wms tbkrkafrk dkckssmry tf hgsrkjmrh tbk cmrjf fd ogjbtkrs, mdh tbkrk bmh mccfrhgdjoy lkkd m tftmo ofss fa tbk rkimgdgdj

cmrjf.

Imrtkdv. Dgppfd Skm mdh Omdh Gdsurmdck Cf. Oth(=272) 3 Cfi. Cms. =18Xbk hgrkct pfogcy wms m wmrkbfusk tf wmrkbfusk gdsurmdck fd m cmrjf tf lk trmdspfrtkh arfi Ogvkrpffo tf Jumymqugo. Xbk pfogcy cfvkrkh tbk cmrjf

matkr gt bmh lkkd hgscbmrjkh mdh hurgdj gts pkrgfh fa gdomdh trmdsgt tf tbk cfdsgjdkk. Xbk rkgdsurmdck, wbgcb wms sul`kct tf tbk smik tkris mdh

cfdhgtgfds rkakrrkh tf tbk cfvkrmjk omstgdj udtgo tbk cmrjf wms hgscbmrjkh mdh smakoy omdhkh. Xbk cmrjf wms ofst wbgok gd m custfis wmrkbfusk.

Bkoh(Lgjbmi @.)0 tbmt fdck tbk jffhs bmh rkmcbkh tbk custfis wmrkbfusk tbky bmh lkkd hkogvkrkh tf tbk cfdsgjdkk, mdh mccfrhgdjoy tbk hgrkct pfogcy

df ofdjkr mppogkh. Gt afoofwkh tbmt tbkrk wms df ogmlgogty udhkr tbk rkgdsurmdck. Bfwkvkr, tbk wmrkbfusk tf wmrkbfusk comusk bmh lkkd gdcfrpfrmtkh

gdtf tbk rkgdsurmdck mdh, bmh tbk ofss fccurrkh mt md kmrogkr stmjk, lftb tbk gdsurkrs mdh tbk rkgdsurkrs wfuoh bmvk amckh ogmlgogty (fd tbk omttkr pfgdt, skk

Cbmrokswfrtbv. Amlkr(=7>>) ; Cfi. Cms. 8>2, mosf m hkcgsgfd fa Lgjbmi @.).

Ga gdcfrpfrmtgfd gs dft pfssglok, k.j., lkcmusk tbk tkris fa tbk rkgdsurmdck mrk skoa-cfdtmgdkh mdh mrk kxprksskh hgaakrkdtoy tf tbfskgd tbk hgrkct pfogcy, tbkd gt afoofws tbmt tbk cfvkrmjk fa tbk hgrkct pfogcy wgoo dft lk gdcfrpfrmtkh gdtf tbk rkgdsurmdck. Aurtbkr, ga tbkwfrhgdj fa tbk hgrkct pfogcy gs sf udusumo tbmt tbk rkgdsurkrs cfuoh dft bmvk mdtgcgpmtkh tbmt tbk hgrkct rgse wfuoh bmvk lkkd wrgttkd gd

tbmt wmy, tbkd tbkrk gs mutbfrgty afr tbk prfpfsgtgfd tbmt gdcfrpfrmtgfd gs dft pfssglok. Xbmt smgh, gt gs dft mowmys kmsy tf rkcfdcgok tbkkmroy mutbfrgtgks mdh gt imy lk tbmt m ifrk oglkrmo vgkw fa gdcfrpfrmtgfd wfuoh lk tmekd tfhmy.

Armdcf-Budjmrgmd Gdsurmdck Cf.v. Ikrcbmdts Imrgdk Gdsurmdck Cf., Sbgppgdj Jmzkttk, : @udk =222

Xbk gdsurmdck wms m tgik pfogcy fd m vkssko. Xbk pfogcy cfdtmgdkh m bkoh cfvkrkh comusk udhkr wbgcb tbk gdsurkh vkssko rkimgdkh cfvkrkh afr tbk

rkimgdhkr fa bkr vfymjk tf Imrskgooks gd tbk kvkdt tbmt tbk pkrgfh gdsurkh kxpgrkh lkafrk tbk vfymjk wms cfipoktkh. Xbk rgse wms rkgdsurkh mdh tbkd

rktrfckhkh. Xbk rktrfckssgfd wms sul`kct tf tbk tkris mdh cfdhgtgfds fa tbk frgjgdmo pfogcy. Xbk vkssko wms ofst matkr tbk kxpgry fa tbk tgik pfogcy mdh

hurgdj tbk bkoh cfvkrkh pkrgfh.

Bkoh0tbmt tbk rktrfckssgfdmgrks wkrk dft ogmlok. Xbk rktrfckssgfd wms gtskoa m skoa-cfdtmgdkh tgik pfogcy wbgcb imhk df prfvgsgfd afr mdy kxtkdsgfd fa

cfvkr, mdh gt wms dft pfssglok tf udhkrigdk tbk kxprkss tkris fa tbk rktrfckssgfd ly gdcfrpfrmtgdj mhhgtgfdmo prfvgsgfds arfi tbk hgrkct pfogcy.

UDftk0Xbgs cmsk gs pffroy rkpfrtkh, mdh skkis tf lk fut fa ogdk wgtb cfdtkipfrmry mutbfrgtgks sucb ms @fyck,hgscusskh mlfvk.Y

Imrgtgik Gdsurmdck Cf.v. StkmrdsU=7>=Y < E.L. 7=:


\flkrt Ikregd


6/19

wkrk lfudh ly tbk bkoh cfvkrkh comusk.

Bkoh(Imtbkw @.)0 tbmt tbk rkgdsurkrs wkrk dft ogmlok. Gt bmh dft lkkd sbfwd tbmt tbk bkoh cfvkrkh comusk wms cfiifdpomck gd cmrjf pfogcgks mt tbk

tgik, mdh tbus gt bmh dft lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck.

UDftk0 Xbgs cmsk wfuoh dft tfhmy lk afoofwkh fd gts amcts, ms bkoh cfvkrkh comusks bmvk lkcfik stmdhmrh. Xbk ifrk hgaagcuot qukstgfd wbktbkr udusumo

tkris cfuoh lk gdcfrpfrmtkh wms hgscusskh ly Hmvgh Stkko @. mdh tbk Cfurt fa Mppkmo gd BGBv. Dkw Bmipsbgrk, mlfvk. Gd tbmt cmsk tbk cfurts wkrk

smtgsagkh tbmt tbk comusk wms dft suaagcgkdtoy udusumo tf prkcouhk gdcfrpfrmtgfd. Ga tbk cfvkrmjk fa tbk hgrkct pfogcy gs udusumooy wghk, tbkd kgtbkr tbk

faakdhgdj prfvgsgfd gs dft gdcfrpfrmtkh mt moo fr, ga gt gs, tbkd tbk rkgdsurmdck gs vfghmlok afr dfd-hgscofsurk. Gt gs udckrtmgd wbgcb fa tbksk mpprfmcbks gs

cfrrkct. Xbk pfgdt gs fa sgjdgagcmdck wbkrk tbk ofss gs cmuskh ly m usumo pkrgo, ms rkgdsurkrs wfuoh stgoo bmvk tbk rgjbt tf mvfgh.Y

M aurtbkr rkstrgctgfd fd tbk fpkrmtgfd fa tbk auoo rkgdsurmdck comusk gd cfvkrmjk gssuks rkomtks tf tbk sgtumtgfd wbkrk tbk rkgdsurkhbms mjrkkh tf kxtkdh tbk cfvkrmjk jrmdtkh tf tbk mssurkh udhkr tbk hgrkct pfogcy. Ms m imttkr fa jkdkrmo prgdcgpok, tbk rkgdsurkrscmddft lk lfudh ly tbgs kxtkdsgfd ms tbky mrk tf lk tmekd tf bmvk mjrkkh tf rkgdsurk tbk rgse ms frgjgdmooy prkskdtkh tf tbki, mdh dftms vmrgkh. Cokmroy rkgdsurkrs cmd mjrkk arfi tbk futskt tf lk lfudh ly cbmdjks gd cfvkrmjk, motbfujb gt wfuoh skki tbmt tbk auoorkgdsurmdck comusk hfks dft auoago tbgs purpfsk ms gt gs cfdckrdkh fdoy wgtb gdhkidgaygdj tbk rkgdsurkh gd rkspkct fa tbk rgse msfrgjgdmooy mcckptkh ly tbk rkgdsurkh.

Zmsm Gdtkrdmtgfdmo Gdsurmdck Cf. Oth mdh MJA Gdsurmdck Cf. Othv. Okxgdjtfd Gdsurmdck Cf.U>:Y KZBC 271

Gd Mujust =7:: gdsurkh Mocfm arfi = @uoy =7:: udtgo = @uoy =72> mjmgdst ofss fa fr hmimjk tf prfpkrty mdh lusgdkss gdtkrruptgfd rgses, wgtb m ogigt fa

ogmlgogty fa [S$,>>>,>>> ofss fr hmimjk mrgsgdj arfi md fdk fccurrkdck mdh m pkr fccurrkdck hkhuctglok afr prfpkrty hmimjk fa [S$,>>>.

Okxgdjtfd mjrkkh tf suligt tf tbk ùrgshgctgfd fa tbk cfurt fa mdy cfipktkdt ùrgshgctgfd wgtbgd tbk [dgtkh Stmtks mt tbk rkqukst fa Mocfm. Okxgdjtfd

fltmgdkh amcuotmtgvk rkgdsurmdck cfvkr arfi tbk Ofdhfd imrekt fd ifrk fr okss tbk smik tkris, gd tbk usumo afri fa m sogp pfogcy wbgcb cfvkrkh moo

rgses fa pbysgcmo ofss (kxcouhgdj agrk) ms frgjgdmo, tbk mifudt rkgdsurkh wms [S$,>>>,>>> kmcb fccurrkdck mdh gd tbk mddumo mjjrkjmtk, mdh tbk

pkrgfh fa tbk cfvkr wms stmtkh tf lk 31 ifdtbs =.:.:: O/[ &/fr prf rmtm tf kxpgry fa frgjgdmo. Xbk sogp pfogcy rkakrrkh tf m auoo rkgdsurmdck comusk,

wbgcb prfvghkh wmrrmdtkh smik tkris mdh cfdhgtgfds mdh tf afoofw tbk skttokikdts, mdh tbk sogp stmtkh tbmt tbk rkgdsurkrs wfuoh pmy moo sucb

ofss ms imy bmppkd tf tbk sul`kct imttkr hurgdj tbk currkdcy fa tbk pfogcy mdh tbmt tbk rkgdsurkrs mjrkkh tf gdhkidgay tbk rkgdsurkh gd rkspkct fa

ofss tf tbk gdsurkh sul`kct imttkr hurgdj tbk cfdtgdumtgfd fa tbgs ^fogcy. Zmsm sulscrglkh tf m =% ogdk mdh MAJ sulscrglkh tf m =.;% ogdk. Gt wms dft

hgsputkh tbmt tbk rkgdsurmdck wms jfvkrdkh ly Kdjogsb omw. Gd tbk kmroy =77>s Mocfm wms rkqugrkh ly vmrgfus [S Akhkrmo mdh Stmtk kdvgrfdikdtmo

rkjuomtfrs tf cokmd up pfooutgfd mt sfik tbgrty-agvk sgtks uskh ly Mocfm afr sfik agaty ykmrs. Gd turd Mocfm cfiikdckh prfckkhgdjs gd Zmsbgdjtfd

mjmgdst gts prfpkrty mdh ogmlgogty gdsurkrs fd rgse gd tbk pkrgfh arfi =71; tf =72;, skkegdj m hkcomrmtgfd fa tbkgr ogmlgogty. Xbk trgmo ùhjk bkoh tbmt tbkrk

bmh lkkd twf fccurrkdcks, wmstmjk arfi imduamcturgdj udgts mdh wmstmjk arfi ftbkr sfurcks, mdh tbmt tbk mpprfprgmtk mppfrtgfdikdt wms tf hgvghk tbk

tftmo rkpmgr cfsts afr kmcb sgtk ly tbk duilkr fa ykmrs gd wbgcb hmimjk fccurrkh mdh tbkd tf moofcmtk tbk mpprfprgmtk prfpfrtgfd tf kmcb ykmr. Xbk

kvghkdck sbfwkh tbmt tbk hmimjk bmh fccurrkh fvkr imdy ykmrs up tf tbk hmtk fa tbk gdckptgfd fa tbk gdsurmdck gd =7:: mdh afr sfik ykmrs tbkrkmatkr,

sf tbmt ly usgdj tbk moofcmtgfd afruiom Okxgdjtfd wms ogmlok fdoy afr rkomtgvkoy simoo pkrckdtmjks fa tbk tftmo ofss. Xbk ofssks mt sfik sgtks wkrk lkofw

Mofcms hkhuctglok. Bfwkvkr, tbgs hkcgsgfd wms rkvkrskh fd mppkmo, tbk Suprkik Cfurt fa Zmsbgdjtfd bfohgdj tbmt tbk gdsurkrsgdcouhgdj

Okxgdjtfdwkrk `fgdtoy mdh skvkrmooy ogmlok tf Mocfm afr moo prfpkrty hmimjk, gdcouhgdj hmimjk wbgcb fccurrkh lkafrk tbk =7:: cfvkr gdckptkh.

Okxgdjtfd tbkrkmatkr skttokh wgtb Mocfm fd 3, mjrkkgdj tf pmy $[S=>3,=8>,;>> fvkr m twf ykmr pkrgfh. Zmsm mdh MAJ cfiikdckh

gd Ofdhfd skkegdj dkjmtgvk hkcomrmtfry rkogka. Okxgdjtfd crfss comgikh afr suis wbgcb gt mookjkh wkrk huk udhkr tbk rkgdsurmdck0 ms mjmgdst Zmsm tbmt

sui wms [S$=,>3=,8>; pous hkakdck cfsts fa [S$:.;> pous hkakdck cfsts fa

[S$8;>Y < Oofyhs \kp. 3;> (lftb hgscusskh

lkofw) fd tbk jrfudh tbmt gd kmcb fa tbfsk cmsks tbk ikmdgdj fa tbk tkri gd tbk hgrkct pfogcy wms cokmr fr mt okmst rkmhgoy msckrtmgdmlok udhkr tbk omw

mppogcmlok tf tbk hgrkct pfogcy, sf tbmt tbk smik ikmdgdj cfuoh lk mscrglkh tf tbmt tkri ms gdcfrpfrmtkh gdtf tbk rkgdsurmdck kvkd tbfujb m hgaakrkdt omw

jfvkrdkh tbk rkgdsurmdck. Gd tbk prkskdt cmsk, ly cfdtrmst, tbkrk wms df ckrtmgdty ms tf bfw tbk hurmtgfd prfvgsgfd gd tbk hgrkct pfogcy wfuoh lk

gdtkrprktkh, ms tbkrk wms df cfiifd vgkw gd tbk [S fd tbk imttkr mdh tbk futcfik hkpkdhkh upfd tbk cfurt gd wbgcb tbk comgi udhkr tbk hgrkct pfogcy

wms rksfovkh. Afr tbmt rkmsfd, tbk kxprkss wfrhgdj fa tbk hurmtgfd comusk gd tbk rkgdsurmdck prkvmgokh, mdh tbk rkgdsurkrs wkrk dft ogmlok afr ofssks



\flkrt Ikregd


7/19

fccurrgdj lkafrk tbk rkgdsurmdck gdckptkh. Sgifd @ mosf rk`kctkh md motkrdmtgvk mrjuikdt tbmt m hkcgsgfd ly m cfurt fd tbk ikmdgdj fa m hgrkct pfogcy

lfudh tbk Kdjogsb cfurt gd gts gdtkrprktmtgfd fa tbk smik wfrhs gd tbk rkgdsurmdck mjrkkikdt. Sgifd @ afudh df mutbfrgty afr tbmt prfpfsgtgfd.

Ofwkr \bgdk mdh Zurttkilurj Gdsurmdck Mssfcgmtgfdv.

SkhjwgceU=277Y = ].L. =:7

Xbk hkakdhmdt udhkrwrgtkrs gssukh twf tgik pfogcgks gdsurgdj buoo mdh cmrjf. Xbk comgimdts wkrk tbk rkgdsurkrs udhkr m rkgdsurmdck mjrkkikdt stmtkh tf

lk fd tbk smik tkris mdh cfdhgtgfds ms tbk frgjgdmo. Xbk rkgdsurmdck mjrkkikdt rkqugrkh tbk udhkroygdj pfogcgks tf lk ghkdtgagkh gd m spmck prfvghkh.

Xbk lomde spmck wms dft cfipoktkh mt tbk futskt. Sulskqukdtoy tbk twf tgik pfogcgks wkrk cmdckookh mdh rkpomckh ly twf aurtbkr pfogcgks fd iucb tbk

smik tkris lut wgtb m bgjbkr prkigui. Ofssks fccurrkh, mdh tbk rkgdsurkrs rkauskh tf imek pmyikdt, mrjugdj tbmt tbk rkgdsurmdck mppogkh fdoy tf

pfogcgks gd afrck mt tbk hmtk tbk rkgdsurmdck wms imhk mdh hgh dft kxtkdh tf rkpomckikdt pfogcgks.

Bkoh(C.M.)0 tbmt tbk rkgdsurkrs wkrk dft ogmlok. Xbk gdcfrpfrmtgfd comusk hgh dft bmvk tbk kaakct fa lgdhgdj tbk rkgdsurkrs tf gdhkidgay tbk rkgdsurkh afr

dkw rgses mcckptkh hurgdj tbk currkdcy fa tbk rkgdsurmdck, lut mppogkh fdoy tf tbk rgses wbgcb wkrk gd pomck wbkd tbk rkgdsurmdck wms tmekd fut.

Dfrwgcb [dgfd Agrk Gdsurmdck Sfcgkty Othv. Cfofdgmo Iutumo Agrk Gdsurmdck Cf. OthU=7>. Xbk rgse wms rkgdsurkh udhkr m

rkgdsurmdck mjrkkikdt mjmgdst tftmo ofss fdoy, mdh sul`kct tf tbk smik tkris mdh cfdhgtgfds ms tbk frgjgdmo. Hurgdj tbk currkdcy fa tbksk pfogcgks,

afoofwgdj m rkvmoumtgfd, tbk mjrkkh vmouk fa tbk buoo wms rkhuckh tf >. M tftmo ofss fccurrkh, mdh tbk rkgdsurkrs rkauskh tf pmy fd tbk jrfudh

tbmt tbk rkhuctgfd gd tbk mjrkkh vmouk fa tbk vkssko imhk gt amr ifrk ogekoy tbmt m ofss wfuoh amoo tf lk trkmtkh ms m cfdstructgvk tftmo ofss (ms tbk cfst fa

rkpmgrs wfuoh kxckkh tbk mjrkkh vmouk fa tbk vkssko).

Bkoh(IcCmrhgk @.)0 tbmt tbk rkgdsurkrs wkrk hgscbmrjkh. Fdck tbk rgse bmh motkrkh gd tbgs sgjdgagcmdt amsbgfd, tbk rkgdsurkrs cfuoh df ofdjkr lk lfudh.

Xbk gdcfrpfrmtgdj wfrhs hgh dft maakct tbk pfsgtgfd ms tbky hgh dft fpkrmtk tf lrgdj gdtf tbk rkgdsurmdck mjrkkikdt tbk rkvgskh tkris mjrkkh ly tbk

rkgdsurkh.

Xbk ifhkrd prmctgck gs tf jgvk cfdtrmctumo kaakct tf tbksk hkcgsgfds ly m prfvgsgfd wbkrkly gd tbk kvkdt fa mdy prfpfskh cbmdjk wbgcb gs imtkrgmo tf

tbk hgrkct rgse tbk rkgdsurkh gs rkqugrkh tf cfdsuot tbk rkgdsurkrs mdh tf fltmgd tbkgr mjrkkikdt tf tbk mikdhikdt. M comusk fa tbgs typk wms cfdsghkrkhly Hmvgh Stkko @. mdh tbk Cfurt fa Mppkmo gd BGB Cmsumoty mdh Jkdkrmo Gdsurmdck Othv. Dkw Bmipsbgrk Gdsurmdck Cf., mlfvk, mdh wms bkoh tf

mifudt tf m wmrrmdty tbmt tbk rgse wfuoh dft lk vmrgkh.

Md mttkipt wms imhk gd Mikrgcmd Gdtkrdmtgfdmo Imrgdk Mjkdcy fa Dkw Wfre Gdc v. Hmdhrghjk U>;Y KZBC 2;Y KZBC 2>. Xbk vkssko wms rkcomsskh wgtb GDSL ms arfi 1 Skptkilkr >>. Mxm mjrkkh

frmooy tf tbk cbmdjk fa comss, mdh tbk vmouk fa tbk vkssko wms rkhuckh arfi [S$:


\flkrt Ikregd


8/19

fa tbk hgrkct pfogcy, mdh tbmt tbk comusk wms gdcfrpfrmtkh gdtf tbk rkgdsurmdck sf tbmt rkgdsurkrs wkrk sgigomroy lfudh ly tbk vmrgmtgfd. Xbk rkgdsurkrs

rkspfdsk wms tbmt0 (m) tbk gdcfrpfrmtgdj wfrhs gd tbk rkgdsurmdck mppogkh fdoy tf tbk Arkdcb Imrekt Sogp mdh dft tf tbk omtkr lgdhkr, sf tbmt tbk okmhgdj

udhkrwrgtkr comusk wms dft gdcfrpfrmtkh gdtf tbk rkgdsurmdck5 (l) ga tbmt wms wrfdj mdh tbk lgdhkr wms gdcfrpfrmtkh, tbk gdcfrpfrmtgdj wfrhs hgh dft

kxtkdh tf tbk okmhgdj udhkrwrgtkr comusk5 mdh (c) ga tbmt wms wrfdj mdh tbk okmhgdj udhkrwrgtkr comusk wms gdcfrpfrmtkh, tbkd gt imhk df skdsk gd tbk

rkgdsurmdck.

Bkoh(Hkputy Bgjb Cfurt @uhjk \gcbmrh Sglkrry ]C)0 tbmt tbk frgjgdmo pfogcy fr pfogcgks gd tbk auoo rkgdsurmdck comusk mppogkh fdoy tf tbk Arkdcb

Imrekt Sogp mdh dft tf tbk lgdhkr (wbgcb bmh lkkd pulogsbkh mdh sgjdkh gdtf matkr tbk hmtk fa tbk rkgdsurmdck), sf tbmt tbk okmhgdj udhkrwrgtkr comusk

wms dft gdcfrpfrmtkh. Ga tbmt wms wrfdj, tbkd tbk okmhgdj udhkrwrgtkr comusk wms dft gdcfrpfrmtkh gdtf tbk rkgdsurmdck lkcmusk gt wms dft jkrimdk fr

mppfsgtk, gt imhk df skdsk gd tbk cfdtkxt fa rkgdsurmdck mdh gt wms gdcfdsgstkdt wgtb tbk kxprkss tkris fa tbk rkgdsurmdck. Mssuigdj tbmt tbk comusk bmh

lkkd gdcfrpfrmtkh gd md udimdgpuomtkh afri, gt pomgdoy cfuoh dft rkqugrk tbk rkgdsurkrs tf afoofw Mxms skttokikdts, dkgtbkr cfuoh gt fpkrmtk tf rkifvk

arfi tbk rkgdsurkrs tbk rgjbt tf tmek m hkakdck udhkr tbk rkgdsurmdck wbgcb bmh lkkd rkifvkh arfi tbk comgimdts ly rkmsfd fa sfik vmrgmtgfd ly Mxm.

Gdcfrpfrmtgfd fa comgis cfdhgtgfdsJgvkd tbmt tbk purpfsk fa gdcfrpfrmtgfd gs tf kdsurk tbmt tbk cfvkrmjk jrmdtkh ly tbk hgrkct pfogcy gs imtcbkh ly tbk rkgdsurmdckmjrkkikdt, tbkrk gs sfik ofjgc lkbgdh tbk gdcfrpfrmtgfd fa gdsurgdj mdh kxckptgfds comusks. Xbkrk gs okss ofjgc gd pkrigttgdj tbkgdcfrpfrmtgfd fa comgis cfdhgtgfds. Xbgs gs sf afr tbrkk rkmsfds0

Amcuotmtgvk rkgdsurmdck mjrkkikdts bmvk tbkgr fwd kxprkss comusks wbgcb jfvkrd comgis, dftmloy comgis cf-fpkrmtgfd comusks

mdh comgis cfdtrfo comusks. Gdsfamr ms tbk rkgdsurmdck cfdtmgds tbksk prfvgsgfds, gdcfrpfrmtgfd fa tbfsk gd tbk hgrkct pfogcygs supkraoufus.Hgrkct pfogcy comgis prfvgsgfds imy lk gdmpprfprgmtk gd tbk rkgdsurmdck cfdtkxt. \kgdsurmdck gd ifst cmsks rkskiloks

ogmlgogty cfvkr, gd tbmt tbk rkgdsurkrs mrk rkqugrkh tf pmy wbkrk tbk rkgdsurkh bms prfvkh tbmt gt amcks ogmlgogty tf gdhkidgaygts pfogcy bfohkrs. Bfwkvkr, tbk comgis cfdhgtgfds gd tbk hgrkct pfogcy wgoo lk pkrtgdkdt tf tbk comss fa pfogcy tf wbgcb tbkyrkomtk, k.j., ogak, iftfr, ktc.

Xbk cfdhgtgfds gd tbk hgrkct pfogcy mrk moifst ckrtmgd tf usk tbk omdjumjk fa hgrkct gdsurmdck rmtbkr tbmd rkgdsurmdck, sf tbmt gagdcfrpfrmtgfd gs tf lk kaakctkh sfik hkjrkk fa ogdjugstgc imdgpuomtgfd imy lk rkqugrkh.

Xbk cmsks mrk gdcfdsgstkdt fd tbk gdcfrpfrmtgfd gssuk, mdh kmcb turds fd gts gdhgvghumo amcts.

Bfik Gdsurmdck Cf. fa Dkw Wfre v. Qgctfrgm-Ifdtrkmo Agrk Gdsurmdck Cf.U=7>:Y M.C. ;7

^rfpkrty lkofdjgdj tf tbk Cmdmhgmd ^mcgagc \mgowmy wms gdsurkh ly Zkstkrd, m Cmdmhgmd cfipmdy udhkr m agrk pfogcy. Xbk pfogcy stmtkh tbmt df sugt

cfuoh lk lrfujbt fd tbk pfogcy udokss cfiikdckh wgtbgd twkovk ifdtbs matkr tbk agrk. Zkstkrd rkgdsurkh % fa tbkgr ogmlgogty wgtb Bfik gd tbk [S

mdh Bfik kdtkrkh gdtf m rktrfckssgfd mjrkkikdt wgtb Qgctfrgm-Ifdtrkmo. Lftb tbk rkgdsurmdck mdh tbk rktrfckssgfd mjrkkikdts gdcfrpfrmtkh tbk tkris

fa tbk hgrkct pfogcy, ly mhhgdj tbk prkagx rk tf tbk wfrh gdsurmdck. Xbk gssuk wms wbktbkr tbk skrvgck fa sugt comusk wms fpkrmtgvk gd tbk

rktrfckssgfd, gt lkgdj cfiifd jrfudh tbmt vgrtumooy moo fa tbk rkimgdhkr fa tbk hgrkct pfogcy wms fa df rkokvmdck gd tbk cfdtkxt fa rktrfckssgfd.

Bkoh(^rgvy Cfudcgo)0 tbmt tbk skrvgck fa sugt bmh dft lkkd gdcfrpfrmtkh gdtf tbk rktrfckssgfd.

(=) Xbk sogp afr tbk rktrfckssgfd wms cfipoktk gd gtskoa.

(:


\flkrt Ikregd


9/19

mttkdtgfd tf tbk spgrgt mdh gdtkdtgfd fa tbk cfdtrmct.

Iudgcgpmo Iutumo Gdsurmdck Othv. Skm Gdsurmdck OthU=771Y O.\.O.\.


10/19

bmvk lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck tbk tkris bmvk tbk smik kaakct gd lftb cfdtrmcts.

Lkafrk tbk mutbfrgtgks mrk cfdsghkrkh, gt gs dkckssmry tf hgstgdjugsb tbki arfi tbk sgtumtgfd gd wbgcb tbk mssurkh bmh bgiskoa lkkd gdlrkmcb fa m wmrrmdty gd tbk hgrkct pfogcy gd m imddkr wbgcb maafrhkh tbk gdsurkrs m hkakdck mjmgdst tbk rkgdsurkh. Gd sucb m cmsk, mdypmyikdt ly tbk rkgdsurkh gs purkoy vfoudtmry mdh wgoo dft amoo wgtbgd tbk scfpk fa tbk rkgdsurmdck. Ga tbk rkgdsurkh wms udmwmrk fa gtsrgjbt tf rkausk pmyikdt, mdh kdtkrkh gdtf m skttokikdt gd krrfr, tbkd tbk mlgogty fa tbk rkgdsurkrs tf rkausk pmyikdt hkpkdhs upfdwbktbkr tbkrk gs m afoofw tbk skttokikdts comusk gd tbk rkgdsurmdck (gd wbgcb cmsk tbk rkgdsurkrs mrk flogjkh tf pmy ms ofdj ms tbkskttokikdt wms lfdm aghk mdh rkmcbkh gd m lusgdkssogek amsbgfdskk Cbmptkr 1) fr wbktbkr tbk cfdtrmct gs sgokdt (gd wbgcb cmsk tbkrkgdsurkh bms tf prfvk gts ogmlgogty).

Gdcfrpfrmtgfd fa hgrkct wmrrmdtgks gdtf rkgdsurmdckXbk pfsgtgfd rkmcbkh ly tbk Kdjogsb cfurts gs tbmt ga tbk rkgdsurkh gs dft rkogkvkh arfi gts flogjmtgfd tf pmy tbk mssurkh hkspgtk mlrkmcb fa wmrrmdty fd tbk mssurkhs pmrt, tbkd tbk rkgdsurkrs mrk dft tbkiskovks mlok tf rkoy upfd tbk lrkmcb fa tbk smik wmrrmdty msgdcfrpfrmtkh gdtf tbk rkgdsurmdck.

Afrsmergdjs Qkstm v. LutcbkrU=727Y = M.C. 2;8, hgscusskh lkofw gd tbk cfdtkxt fa lmce tf lmcecfvkr. Igdfr vmrgmtgfds gd tbk wfrhgdj lktwkkd tbk hgrkct gdsurmdck wmrrmdty mdh tbk rkgdsurmdck wmrrmdty wgoo dft prfhuck m rksuothgaakrkdt tf tbmt gdQkstmv. Lutcbkrga tbk cfurt gs smtgsagkh tbmt tbfsk vmrgmtgfds wkrk dft gdtkdhkh tf lk fa sgjdgagcmdck.

Jrfupmim Dmvgjmtgfd kt Xrmdspfrts Cfdtgdkdt SMv. Cmtmtuilf Cm Skjurfs U>>Y < Oofyhs \kp. 3;>

Xbk hkakdhmdts, m Qkdkzukomd gdsurmdck cfipmdy, wkrk tbk buoo mdh imcbgdkry gdsurkrs fa m Qkdkzukomd sbgppgdj cfipmdy udhkr m pfogcy jfvkrdkh

ly tbk omw fa Qkdkzukom. Xbk pfogcy gdcfrpfrmtkh [S comssgagcmtgfd prfvgsgfds, tbk kaakct fa wbgcb wms tf jumrmdtkk tbk stmtkh comssgagcmtgfd fa tbk



\flkrt Ikregd


11/19

vkssko mdh tf lrgdj tbk pfogcy tf md kdh gd tbk kvkdt fa m cbmdjk fa comss. Xbk comgimdts wkrk rkgdsurkrs wbf bmh rkgdsurkh ;>% fa tbk hkakdhmdts

ogmlgogty udhkr m amcuotmtgvk sogp pfogcy jfvkrdkh ly Kdjogsb omw. Xbk sogp pfogcy cfdtmgdkh m vkrsgfd fa tbk auoo rkgdsurmdck comusk, gd tbk afri moo

tkris, cfdhgtgfds, wmrrmdtgks, mhhgtgfdmo prkiguis, rkturd prkigui ms frgjgdmo. Xbkrk wms gd mhhgtgfd m spkcgagc wmrrmdty prfvghgdj Zmrrmdtkh

kxgstgdj comss imgdtmgdkh. Xwf vksskos lkofdjgdj tf tbk mssurkh wkrk hmimjkh gd m stfri, mdh gt wms omtkr hgscfvkrkh tbmt dkgtbkr fa tbk vksskos bmh

lkkd kdtkrkh gdtf m comssgagcmtgfd sfcgkty. Xbk lrkmcb fa wmrrmdty hgh dft, bfwkvkr, hgscbmrjk tbk hkakdhmdts arfi ogmlgogty udhkr Qkdkzukomd omw, ms

tbkrk wms df cmusmtgvk ogde lktwkkd tbk lrkmcb fa wmrrmdty mdh tbk ofssks. Xbk comgimdts hkdgkh ogmlgogty, rkoygdj fd tbk kxgstgdj comss imgdtmgdkh

wmrrmdty cfdtmgdkh gd tbk rkgdsurmdck gtskoa, mdh mrjukh tbmt ms tbgs wms m spkcgagcmooy mjrkkh tkri gd md Kdjogsb omw pfogcy tbky wkrk hgscbmrjkh arfi

ogmlgogty ly rkmsfd fa gts lrkmcb. Xbk comgimdts hgh dft rkoy upfd tbk gdcfrpfrmtkh comssgagcmtgfd wmrrmdty gd tbk hgrkct pfogcy, mdh gt gs cokmr tbmt bmh

tbky hfdk sf tbky wfuoh bmvk lkkd hkakmtkh ly tbk hkcgsgfd gd Qkstm v. Lutcbkr. Gdstkmh, tbk comgimdts sfujbt tf hgstgdjugsb Qkstm v. Lutcbkrly

mrjugdj tbmt gd Qkstmtbk rkgdsurkrs bmh rkogkh upfd md gdcfrpfrmtkh tkri wbkrkms gd tbk prkskdt cmsk tbk tkri rkogkh upfd wms m rkgdsurmdck tkri. Xbk

hkakdhmdts afr tbkgr pmrt mrjukh tbmt tbk auoo rkgdsurmdck comusk bmh gdcfrpfrmtkh tbk [S wmrrmdty gdtf tbk rkgdsurmdck cfdtrmct, mdh tbgs bmh hgspomckh

tbk kxprkss rkgdsurmdck wmrrmdty.

Bkoh(C.M.)0 tbmt tbk hkakdhmdts mrjuikdt succkkhkh.

(=) Xbk pmrtgks gdtkdtgfds bmh lkkd tf imek tbk gdsurmdck mdh rkgdsurmdck lmce tf lmce gd tkris fa cfvkrmjk.

(8Y Oofyhs \kp. G\ 8>8

[S$=>> igoogfd bmh lkkd ofmdkh ly gdvkstfrs tf m agoi hgstrglutgfd mdh prfhuctgfd cfipmdy, Hkstgdmtgfd, mdh bmh lkkd skcurkh ly tbk gssuk fa dftks

tf trustkks mctgdj afr tbk dftkbfohkrs. Xbk eky kipofykk fa Hkstgdmtgfd wms fdk Stkvk Stmlokr, tbk hgrkctfr fa Huil mdh Huilkrmdh wbf wms

hkscrglkh gd tbk prfckkhgdjs ms Hkstgdmtgfds crkmtgvk igdh. Ir Stmlokr wms tf lk gd cbmrjk fa tbk prfhuctgfd fa agois ly Hkstgdmtgfd. Lrfekrs wkrk

kdjmjkh ly tbk dftkbfohkrs tf pomck gdsurmdck, mdh gdgtgmooy tbk lrfekrs fltmgdkh 8>% sulscrgptgfd arfi Mxm, % sulscrgptgfd arfi Dkw Bmipsbgrk

mdh 8>% sulscrgptgfd arfi vmrgfus ftbkr gdsurkrs. Sulskqukdtoy Hkstgdmtgfd gdafrikh tbk lrfekrs tbmt gt wgsbkh tf bmvk fdoy Mxm mdh Dkw Bmipsbgrk

ms gdsurkrs, mdh tbk lrfekrs mccfrhgdjoy mrrmdjkh afr Mxm tf tmek 8>% fa tbk rgse wgtb tbk rkimgdgdj 1>% lkgdj tmekd ly Dkw Bmipsbgrk. Fdk tbgrh fa

Dkw Bmipsbgrks sulscrgptgfd wms tmekd afr gtskoa, mdh tbk rkimgdgdj twf-tbgrhs wms mcckptkh ly Dkw Bmipsbgrk ms m arfdtgdj cfipmdy afr tbk ftbkrgdsurkrs, wbf lkcmik Dkw Bmipsbgrks rkgdsurkrs afr tbmt purpfsk. Xbk hgrkct pfogcy sulscrglkh tf ly Mxm mdh Dkw Bmipsbgrk wms sgokdt fd tbk

pfsgtgfd fa Ir Stmlokr wgtbgd Hkstgdmtgfd, lut Dkw Bmipsbgrks futwmrhs rkgdsurmdck stmtkh, gd mhhgtgfd tf tbk tkris lkgdj ms frgjgdmo tbmt m

cfdtrmct gd rkspkct fa Stkvk Stmlokr tf lk imgdtmgdkh afr tbk hurmtgfd fa tbk pfogcy. Sffd matkr tbk gdsurmdck mdh rkgdsurmdck rgses gdckptkh, Ir

Stmlokr hkpmrtkh arfi Hkstgdmtgfd. Gd huk cfursk Hkstgdmtgfd lkcmik gdsfovkdt mdh hkamuotkh fd gts pmyikdts tf tbk dftkbfohkrs. Xbk rkgdsurkrs

rkauskh tf imek pmyikdt, mrjugdj tbmt tbk Stmlokr tkri wms m wmrrmdty wbgcb bmh lkkd lrfekd mdh wbgcb hgscbmrjkh tbki arfi ogmlgogty ms fa tbk

hmtk fa tbk lrkmcb. Dkw Bmipsbgrk mrjukh, rkoygdj fd Qkstm v. Lutcbkrmdh Jrfupmim v. Cmtm-tuilf, tbmt tbk gdsurmdck mdh rkgdsurmdck mjrkkikdts

sbfuoh lk cfdstrukh lmce tf lmce, mdh mccfrhgdjoy tbmt wbkd tbk tkris fa tbk hgrkct pfogcy wkrk gdcfrpfrmtkh gdtf tbk rkgdsurmdck mjrkkikdt tbk

mlskdck fa mdy Stmlokr wmrrmdty gd tbk hgrkct pfogcy dkjmtgvkh tbk kxprkss Stmlokr wmrrmdty gd tbk rkgdsurmdck mjrkkikdt.



\flkrt Ikregd


12/19

Bkoh(Omdjoky @.)0 tbmt tbk rkgdsurkrs wkrk dft ogmlok. Xbk tkri rkomtgdj tf Ir Stmlokrs cfdtgdugdj kipofyikdt wms m wmrrmdty (skk Cbmptkr ;), mdh tbk

wmrrmdty wms dft maakctkh ly tbk mlskdck fa mdy kqugvmokdt prfvgsgfd gd tbk udhkroygdj pfogcy kvkd tbfujb gt wms cokmr tbmt tbk rkgdsurmdck bmh lkkd

put gdtf pomck fdoy ms m arfdtgdj fpkrmtgfd mdh tbkrk bmh dkvkr lkkd mdy gdtkdtgfd tf rkdhkr tbk tkris fa tbk gdsurmdck mdh rkgdsurmdck mt vmrgmdck.

Omdjoky @. hgstgdjugsbkh Qkstm mdh Jrfupmim fd tbk jrfudh tbmt gd kmcb fa tbfsk cmsks tbkrk wkrk wmrrmdtgks gd lftb tbk gdsurmdck mdh tbk

rkgdsurmdck, mdh tbk gdtkdtgfd fa tbk pmrtgks bmh lkkd tbmt tbk wmrrmdtgks sbfuoh bmvk tbk smik kaakct gd kmcb fa tbfsk cfdtrmcts. Ly cfdtrmst, gd JK v.

Dkw Bmipsbgrk tbkrk wms df wmrrmdty gd tbk hgrkct pfogcy mdh gt wms gipfssglok tf cfdstruk tbk tkris fa md kxprkss rkgdsurmdck wmrrmdty ms imtcbgdj

tbk tkris fa m hgrkct pfogcy wbgcb imhk df rkakrkdck tf tbk wmrrmdty mt moo. Xbk Stmlokr Zmrrmdty cfuoh dft sgipoy lk hgsrkjmrhkh.

GDCF\^F\MXGFD FA HGS^[XK \KSFO[XGFD ^\FQGSGFDS

Jkdkrmo prgdcgpoks fa omwGdcfrpfrmtgfd gs dft m hkvgck cfdagdkh tf rkgdsurmdck mjrkkikdts. Gdcfrpfrmtgfd gs wghkoy uskh gd ftbkr afris fa cfiikrcgmo cfdtrmct.Xbkrk mrk mt okmst tbrkk ftbkr gooustrmtgfds fa tbk usk fa gdcfrpfrmtgfd0

Sbgppgdj. Gt gs stmdhmrh prmctgck afr tbk tkris fa tbk cbmrtkrpmrty, ms mjrkkh lktwkkd tbk sbgpfwdkr mdh tbk cbmrtkrkr, tf lkgdcfrpfrmtkh gdtf lgoos fa omhgdj gssukh ly tbk sbgpfwdkr tf tbgrh pmrty purcbmskrs fa tbk cmrjf.

Cfdstructgfd. Xbk tkris fa bkmh cfdtrmcts mrk arkqukdtoy gdcfrpfrmtkh ly rkakrkdck gdtf sul-cfdtrmcts kdtkrkh gdtf ly tbkbkmh cfdtrmctfr.

Gdsurmdck. Zbkrk gdsurmdck gs mrrmdjkh gd omykrs, tbk usumo prmctgck gs afr tbk tkris fa tbk agrst omykr pfogcy tf lkgdcfrpfrmtkh gdtf tbk kxckss omykr pfogcgks.

Sgdck tbk kdh fa tbk dgdktkkdtb ckdtury tbk cfurts bmvk strujjokh wgtb tbk qukstgfd fa wbktbkr hgsputk rksfoutgfd prfvgsgfdscfdtmgdkh gd tbk bkmh cfdtrmct bmvk lkkd gdcfrpfrmtkh gdtf tbk sulsghgmry cfdtrmcts ly vgrtuk fa wfrhs fa gdcfrpfrmtgfd gd tbksulsghgmry cfdtrmct. Hgsputk rksfoutgfd prfvgsgfds mrlgtrmtgfd comusks, `urgshgctgfd comusks mdh cbfgck fa omw comusksmrk trkmtkhhgaakrkdtoy arfi ftbkr cfdtrmct tkris0 gt gs fdk tbgdj afr cfdtrmctumo cfdhgtgfds tf lk gdcfrpfrmtkh, lut gt gs qugtk mdftbkr tf hkprgvk mpmrty fa bgs rgjbt tf lrgdj prfckkhgdjs gd m cfurt fa bgs fwd cbfgck ly rkmsfd fa md gdcfrpfrmtkh hgsputk rksfoutgfd prfvgsgfd wbgcbafris pmrt fa m qugtk skpmrmtk cfdtrmct. Xbk im`frgty fa tbk cmsks bmvk gdvfovkh tbk gdcfrpfrmtgfd fa mrlgtrmtgfd comusks arficbmrtkrpmrtgks gdtf lgoos fa omhgdj. Xbk omw gs stgoo gd sfik rkspkcts udckrtmgd, motbfujb tbk prgdcgpoks wbgcb imy lk hkrgvkh arfi tbkcmsks wkrk rkckdtoy rkstmtkh ly Jrfss @. gd Sglftg E/S v. L^ Armdck SM, Imy >3, udrkpfrtkh (rkakrkdcks tf tbk duikrfuscbmrtkrpmrty mutbfrgtgks figttkh)0

(=) Xbk stmrtgdj pfgdt gs tbk cfdtrmct cfdtmgdkh gd fr kvghkdckh ly tbk lgoo fa omhgdj5 gt gs tbmt cfdtrmct wbgcb tbk Cfurt iust cfdstruk.

(:


\flkrt Ikregd


13/19

gdcfrpfrmtgfd gd tbk lgoo fa omhgdj. Xbk pfgdt wbgcb rkimgds udhkcghkh gs wbktbkr tbk wfrhgdj fa tbk cbmrtkrpmrty gs fa mdysgjdgagcmdck, mdh gd pmrtgcuomr wbktbkr tbk mlskdck fa cokmr rkakrkdcks tf tbk mrlgtrmtgfd comusk gd tbk lgoo fa omhgdj cmd lkcfipkdsmtkh afr ly m cbmrtkrpmrty prfvgsgfd wbgcb stmtks tbmt, k.j., mdy hgsputk mrgsgdj fut fa tbk cbmrtkrpmrty fr mdy lgoo fa omhgdj gstf lk rkakrrkh tf mrlgtrmtgfd. Gd SglftgJrfss @. bkoh tbmt tbk wkgjbt fa mutbfrgty suppfrtkh tbk prfpfsgtgfd tbmt gdcfrpfrmtgfd wms tf lkhktkrigdkh ly tbk tkris fa tbk lgoo fa omhgdj mofdk.

Mrlgtrmtgfd comusks

Mrlgtrmtgfd gs hgscusskh gd Cbmptkr =>. Xbk prkskdt hgscussgfd gs cfdckrdkh fdoy wgtb tbk kaakct fa tbk auoo rkgdsurmdck comusk fdmrlgtrmtgfd. Md mrlgtrmtgfd comusk cfdtmgdkh gd m hgrkct pfogcy gs dft gdcfrpfrmtkh gdtf m rkgdsurmdck mjrkkikdt wbgcb purpfrts tf cmrrymcrfss tbk tkris fa tbk hgrkct pfogcy ly usk fa tbk auoo rkgdsurmdck comusk. Xbk auoo rkgdsurmdck comusk, wbgcb rkakrs tf tkri mdhcfdhgtgfds hfks dft kxtkdh tf mrlgtrmtgfd ms tbkrk gs df spkcgagc rkakrkdck tf tbk mdcgoomry flogjmtgfd tf jf tf mrlgtrmtgfd.

^gdk Xfp Gdsurmdck Cf. Othv. [dgfdk Gtmogmdm Mdjof Smxfd \kgdsurmdck Cf. OthU=72:Y = Oofyhs \kp. 8:1

Xbk gdsurkr gssukh m duilkr fa trmvko gdsurmdck pfogcgks prfvghgdj cfvkr afr ikhgcmo kxpkdsks gdcurrkh mlrfmh. Kmcb fa tbk pfogcgks cfdtmgdkh

mrlgtrmtgfd comusks wbkrkly hgsputks mrgsgdj lktwkkd tbk mssurkh mdh tbk gdsurkr wkrk tf lk rkakrrkh tf mrlgtrmtgfd. Xbk mrlgtrmtgfd prfckhurk wms m

sgipok fdk, rkaokctgdj tbk suis mt stmek. Xbk gdsurkr rkgdsurkh gts ogmlgogtgks wgtb tbk hkakdhmdts. Xbk rkgdsurmdck sogp stmtkh moo tkris mdh cfdhgtgfds

ms frgjgdmo. Xbk sogp mosf cfdtmgdkh gts fwd mrlgtrmtgfd comusk, mdh tbgs wms amr ifrk komlfrmtk tbmd tbmt wbgcb mppogkh tf hgsputks udhkr tbk trmvko

pfogcgks tbkiskovks. Xbk hkakdhmdts rktrfckhkh tbkgr ogmlgogtgks tf tbk comgimdt rktrfckssgfdmgrks. Xbk rktrfckssgfd sogp gtskoa stmtkh moo tkris mdhcfdhgtgfds ms frgjgdmo, motbfujb tbgs tgik tbkrk wms df skpmrmtk mrlgtrmtgfd comusk. Hgsputks mrfsk lktwkkd tbk comgimdts mdh tbk hkakdhmdts, mdh tbk

gssuk afr tbk cfurt wms wbktbkr tbk hgsputks wkrk tf lk rkakrrkh tf mrlgtrmtgfd.

Bkoh(Jmtkbfusk @.)0 tbmt tbkrk wms df mrlgtrmtgfd comusk gdcfrpfrmtkh gdtf tbk rktrfckssgfd mjrkkikdt.

(=) Xbk pbrmsk moo tkris mdh cfdhgtgfds ms frgjgdmo wms mpprfprgmtk tf gdcfrpfrmtk gdsurgdj mdh rkomtkh prfvgsgfds arfi m hgrkct pfogcy gdtf m

rkgdsurmdck fr rktrfckssgfd mjrkkikdt, lut prflmloy bmh df ftbkr kaakct.

(


14/19

wms md mdcgoomry prfvgsgfd wbgcb wms cfoomtkrmo tf tbk imgd sul`kct imttkr fa m cfdtrmct mdh kxprkss wfrhgdj wms dkkhkh tf kaakct gdcfrpfrmtgfd fa tbgs

typk fa comusk.

Xbksk cmsks wkrk hkcghkh lkafrk tbk pmssgdj fa tbk Mrlgtrmtgfd Mct =771. Xbgs Mct afr tbk agrst tgik skt fut tbk rkqugrkikdts afr mvmogh mrlgtrmtgfd comusk (fr, mt okmst, fdk jfvkrdkh ly tbk =771 Mct). Skctgfd ; prfvghks tbmt md mrlgtrmtgfd comusk iust lk gd wrgtgdj,motbfujb gt dkkh dft lk sgjdkh ly tbk pmrtgks, mdh skctgfd 1(


15/19

Xbk vmoghgty mdh lgdhgdj kaakct fa ùrgshgctgfd comusks bms tf lk cfdsghkrkh udhkr twf skpmrmtk rkjgiks. Ga tbk hkakdhmdt gshfigcgokh wgtbgd tbk KC fr KAXM tbk rkqugrkikdts afr m vmogh ùrgshgctgfd comusk mrk skt fut (afr tbk KC) gd Mrtgcok =, rkpomcgdj tbk Lrusskos Cfdvkdtgfd =712, fr (afr KAXM) gd Mrtgcok =: fa tbk Oujmdf Cfdvkdtgfd =727.Xbk \kjuomtgfd mdh tbk Cfdvkdtgfd mrk hgaakrkdtoy wfrhkh lut mrk afr tbk ifst pmrt ghkdtgcmo. M ùrgshgctgfd mjrkkikdt gs lgdhgdjudhkr tbk \kjuomtgfd mdh tbk Cfdvkdtgfd ga gt gs0

(m) gd wrgtgdj fr kvghkdckh gd wrgtgdj U mdy cfiiudgcmtgfd ly kokctrfdgc ikmds wbgcb prfvghks m hurmlok rkcfrh fa tbkmjrkkikdt sbmoo lk kqugvmokdt tf wrgtgdjY5

(l) gd m afri wbgcb mccfrhs wgtb prmctgcks wbgcb tbk pmrtgks bmvk kstmlogsbkh lktwkkd tbkiskovks5(c) gd gdtkrdmtgfdmo trmhk fr cfiikrck, gd m afri wbgcb mccfrhs wgtb m usmjk fa wbgcb tbk pmrtgks mrk fr fujbt tf bmvk lkkd

mwmrk mdh wbgcb gd sucb trmhk fr cfiikrck gs wghkoy edfwd tf, mdh rkjuomroy flskrvkh ly pmrtgks tf cfdtrmcts fa tbk typkgdvfovkh gd tbk pmrtgcuomr trmhk fr cfiikrck cfdckrdkh.

Kdjogsb cmsks wbgcb bmvk hgscusskh tbgs prfvgsgfd bmvk cfdcouhkh tbmt tbk rkqugrkikdts fa Kdjogsb omw afr tbk gdcfrpfrmtgfd fa mùrgshgctgfd comusk mrk gdhgstgdjugsbmlok arfi tbfsk skt fut gd tbk \kjuomtgfd mdh tbk Cfdvkdtgfd (skk, k.j., Kvgmogs SMv. Sgmt U>3YKZBC 213 (Cfii)).

Mrgj Gdsurmdck Cfipmdy Othv. Smsm Mssgcurmzgfdk \gmssgcurmzgfdk SpM, =772, udrkpfrtkh

M cfdtrmct fa rkgdsurmdck stmtkh ^fogcy wfrhgdj ms frgjgdmo. Xbk qukstgfd wms wbktbkr tbgs wfrhgdj fpkrmtkh tf gdcfrpfrmtk gdtf tbk rkgdsurmdck

cfdtrmct m tkri gd tbk hgrkct pfogcy wbgcb stmtkh tbmt tbk cfurts fa tbk pomck fa tbk rksghkdck fr faagck fa tbk Cfdtrmctgdj ^mrtygd tbgs cmsk,

Gtmoybmh kxcousgvk ùrgshgctgfd.

Bkoh(Xuceky @.)0 Xbk rkqugrkikdts fa Mrtgcok =: fa tbk Lrusskos Cfdvkdtgfd =712 (dfw Mrtgcok = \kjuomtgfd) bmh dft lkkd smtgsagkh mdh

tbkrk wms df vmogh kxcousgvk ùrgshgctgfd mjrkkikdt. Gt wms dkckssmry tf hkifdstrmtk cfdskdsus, lut tbgs bmh dft lkkd sbfwd fd tbk amcts.

MGJ Jrfup ([E) Othv. Xbk KtbdgegU>>Y Oofyhs \kp. G\ 383

Bkookdgc Mris Gdhustry tffe fut gdsurmdck wgtb ofcmo gdsurkrs (tbk hkakdhmdts) fd tbkgr amctfry gd Mtbkds. Xbk pfogcy stmtkh tbmt tbk pmrtgks suligttkh

tf tbk kxcousgvk ùrgshgctgfd fa tbk cfurts fa Mtbkds. Xbk hkakdhmdts rkgdsurkh fd tbk Ofdhfd imrekt wgtb tbk comgimdts fd tbk usumo ms frgjgdmo

tkris. Afoofwgdj skrgfus hmimjk tf tbk amctfry ly md kmrtbqumek, tbk comgimdts mppogkh tf tbk Kdjogsb cfurt afr m hkcomrmtgfd tbmt tbky hgh dft amck

ogmlgogty udhkr tbk rkgdsurmdck. Xbk hkakdhmdts mrjukh tbmt tbk Kdjogsb cfurt bmh df ùrgshgctgfd mdh tbmt tbk rkgdsurmdck gdcfrpfrmtkh tbk kxcousgvk

ùrgshgctgfd comusk gd amvfur fa Mtbkds ms cfdtmgdkh gd tbk hgrkct pfogcy.

Bkoh (C.M.)0 tbmt tbk rkgdsurmdck wms dft sul`kct tf mdy kxcousgvk ùrgshgctgfd mjrkkikdt mdh tbmt tbk rkqugrkikdts fa Mrtgcok =: fa tbk Lrusskos

Cfdvkdtgfd =712 bmh dft lkkd smtgsagkh. Jkdkrmo wfrhs fa gdcfrpfrmtgfd hgh dft ikkt tbk rkqugrkikdts afr cfdskdsus hkimdhkh ly kgtbkr Kdjogsb omw

fr tbk Cfdvkdtgfd. Kxcousgvk ùrgshgctgfd comusks wkrk dft mpprfprgmtkoy gdcfrpfrmtkh, ms tbky wkrk (gd tbk wfrhs fa Kvmds O.@.) wbfooy gdmpprfprgmtk

tf hgsputks mrgsgdj lktwkkd gdsurkrs mdh rkgdsurkrs udhkr tbk rkgdsurmdck cfdtrmct.

MGJ Kurfpk SMv. ]LK Gdtkrdmtgfdmo Gdsurmdck OthU>


16/19

cfdtkxt, mdh tbmt fa gtskoa sbfwkh tbmt tbk pmrtgks cfuoh dft bmvk gdtkdhkh tbk comusk tf lk gdcfrpfrmtkh.

^rgatgv. Iusgdg Sfcgkhmh Mdfdgim Hk Skjurfs y \kmskjurfs, U>8Y Oofyhs \kp. G\ ;> tf 8 Hkckilkr >=. Iusgdg wkrk rkgdsurkh gd Ofdhfd tf tbk

kxtkdt fa 72% ly tbk comgimdt (rkprkskdtgdj Oofyhs sydhgcmtks) afr tbk smik pkrgfh. Xbk pfogcy cfdtmgdkh md kxcousgvk ùrgshgctgfd comusk dfigdmtgdj

tbk cfurts fa tbk hfigcgok fa tbk mssurkh, gk, tbk Spmdgsb cfurts. Xbk rkgdsurmdck cfdtmgdkh tbk auoo rkgdsurmdck comusk, Lkgdj m rkgdsurmdck fa mdh

wmrrmdtkh sul`kct tf tbk smik tkris mdh cfdhgtgfds (kxcouhgdj ogigts mdh rmtks) ms mdh tf afoofw tbk skttokikdts fa tbk \kmssurkh. \kmo Sfcgkhmh

lrfujbt m comgi mjmgdst Iusgdg gd rkspkct fa md gdùry tf m pomykr, Arkhkrgc ^kgrkimds, wbfsk cmrkkr wms kdhkh afoofwgdj md gdùry suaakrkh gd Mprgo

>=. Iusgdg hkdgkh ogmlgogty fd tbk jrfudhs tbmt \kmo Sfcgkhmh bmh amgokh tf hgscofsk m prk-kxgstgdj cfdhgtgfd maakctgdj tbk pomykr, mdh mosf tbmt tbk

gdùry wms tbk rksuot fa tbmt prk-kxgstgdj cfdhgtgfd. ^kdhgdj tbk hktkrigdmtgfd fa tbk comgi, tbk gssuk mrfsk ms tf wbktbkr tbk kxcousgvk ùrgshgctgfd

comusk gd tbk hgrkct pfogcy bmh lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck mjrkkikdt mdh bmh lkcfik lgdhgdj fd tbk rkgdsurkrs (tbkrkly cfdakrrgdj

kxcousgvk ùrgshgctgfd fd tbk Spmdgsb cfurts udhkr Mrtgcok =).

Bkoh(Mdhrkw Sigtb @.)0 tbmt tbkrk wms df ùrgshgctgfd mjrkkikdt. Mrtgcok , wbgcb lkcmik m pmrt fa Kdjogsb omw ly tbk Cfdtrmcts (Mppogcmlok Omw) Mct =77; (afraurtbkr hgscussgfd, skk Cbmptkr 7)0

\fik Cfdvkdtgfd, Mrtgcok 3.=

M cfdtrmct sbmoo lk jfvkrdkh ly tbk omw cbfskd ly tbk pmrtgks. Xbk cbfgck iust lk kxprksskh fr hkifdstrmtkh wgtb rkmsfdmlokckrtmgdty ly tbk tkris fa tbk cfdtrmct fr tbk cgrcuistmdcks fa tbk cmsk. Ly tbkgr cbfgck, tbk pmrtgks cmd skokct tbk omw mppogcmlok tf tbkwbfok fr m pmrt fdoy fa tbk cfdtrmct.

Xbgs prfvgsgfd rkaokcts tbk prk-kxgstgdj cfiifd omw. Xbk cfurts bmvk bkoh, cfdsgstkdtoy wgtb tbkgr ruogdjs fd ùrgshgctgfd mdhcbfgck fa omw, tbmt m cbfgck fa omw comusk wgoo dft lk gdcfrpfrmtkh ly jkdkrmo gdcfrpfrmtgfd wfrhgdj.

JMD Gdsurmdck Cf. Othv. Xmg ^gdj Gdsurmdck Cf. OthU=777Y Oofyhs \kp. G\ 8::


\flkrt Ikregd


17/19

LMCE XF LMCE CFQK\

Xbk ikmdgdj fa lmce tf lmce cfvkrHkagdgtgfdXbk dftgfd fa lmce tf lmce cfvkr gs gd ksskdck m prgdcgpok fa cfdstructgfd fa rkgdsurmdck mjrkkikdts, wbgcb hgctmtks tbmt gdmpprfprgmtk cgrcuistmdcks tbk wfrhgdj fa tbk rkgdsurmdck mjrkkikdt gs tf lk cfdstrukh gd tbk smik wmy ms tbk wfrhgdj fa tbkudhkroygdj hgrkct pfogcy. Gd tbk cmsk fa amcuotmtgvk rkgdsurmdck mjrkkikdts, tbk wfrhgdj fa tbk hgrkct pfogcy gs gdcfrpfrmtkh gdtf tbkrkgdsurmdck ly ikmds fa tbk auoo rkgdsurmdck comusk, mdh gt gs tf lk mssuikh tbmt tbk ikmdgdj fa tbk wfrhgdj gd tbk rkgdsurmdckmjrkkikdt gs tf lk cfdstrukh gd prkcgskoy tbk smik wmy ms gd tbk hgrkct pfogcy. Gd tbgs skdsk, lmce tf lmce cfvkr mhhs vkry ogttok tf tbkghkm fa gdcfrpfrmtgfd, ms lmce tf lmce cfvkr gs mcbgkvkh mutfimtgcmooy ly gdcfrpfrmtgfd. Xbgs wms skkd mlfvk, gd tbk hgscussgfd fa tbkhkcgsgfds gdAfrsmergdjs Qkstmv. LutcbkrU=727Y = M.C. 2;< mdh Jrfupmimv. CmtmtuilfU>>Y < Oofyhs \kp. 3;>. Xbkrk mrkgdhkkh kmroy hkcgsgfds gd wbgcb tbk auoo rkgdsurmdck comusk hgh dft bmvk md gdcfrpfrmtgdj kaakct lut rmtbkr sgipoy rkdhkrkh lmce tflmce tbk tkris fa tbk hgrkct pfogcy mdh tbk rkgdsurmdck (@fyck v. \kmoi Imrgdk Gdsurmdck Cf. Oth(=2:), motbfujbtbk ifhkrd vgkw kxkipogagkh ly Qkstmmdh Jrfupmimgs tbmt tbfsk tkris mrk mctumooy gdcfrpfrmtkh.

Okmvgdj msghk tbk sgtumtgfd wbkrk tbkrk bms lkkd gdcfrpfrmtgfd fa tbk tkris fa tbk hgrkct pfogcy gdtf tbk rkgdsurmdck, tbkrk wgoo lkcmsks gd wbgcb tbk dftgfd fa lmce tf lmce cfvkr imy lk fa gdhkpkdhkdt sgjdgagcmdck. Xbksk wgoo mrgsk wbkrk tbk wfrhgdj fa tbk hgrkctpfogcy bms dft lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck mjrkkikdt, ms wgoo typgcmooy lk tbk pfsgtgfd udhkr rkgdsurmdck trkmtgks.

Afrsmergdjs Qkstm v. LutcbkrU=727Y = M.C. 2;=Y Oofyhs \kp. G\=:7, wbkrk tbk cfdstructgfd fa md mjjrkjmtgfd comusk ms ikmdgdj tbmt gdhgvghumo gdstmdcks fa rgftgdj wkrk kmcb tf lk trkmtkh ms mskpmrmtk kvkdt rmtbkr tbmd ms m cfipfsgtk kvkdt wms gdaoukdckh ly tbk cfdsghkrmtgfd tbmt tbgs prfhuckh cfdsgstkdcy up tbk

rkgdsurmdck cbmgd. Skk mosf Jfsbmwe Sydhgcmtk Imdmjkikdt Oth mdh ftbkrs v. RO Spkcgmogty Gdsurmdck Cf. U>8Y Oofyhs \kp. G\123, gd wbgcb Ifrgsfd bkoh tbmt tbk pbrmsk tbgs pfogcy tf rkspfdh fdoy afr ofssks gd kxckss fa frgjgdmo mddumo mjjrkjmtk hkhuctglok fa[S$;,>>>,>>> mdh frgjgdmo udhkroygdj hkhuctgloks gdcfrpfrmtkh tbk kdtgrk agdmdcgmo cfvkrmjk fa tbk hgrkct pfogcy, gdcouhgdj mprfvgsgfd udhkr wbgcb tbk gdsurkrs wkrk ogmlok afr gdhgvghumo ofssks gd kxckss fa [S$=,>>>,>>> kvkd tbfujb tbk mddumo mjjrkjmtkhkhuctglok bmh dft mt tbmt pfgdt lkkd kxckkhkh. Ifrgsfd @. bkoh tbmt tbgs prfvgsgfd wms tf lk rkjmrhkh ms md frgjgdmo udhkroygdjhkhuctglok kvkd tbfujb gt hgh dft fpkrmtk ms m hkhuctglok, mdh `ustgagkh bgs hkcgsgfd ly tbk prgdcgpok tbmt tbk cfdtrmcts wkrk wrgttkd fdm lmce tf lmce lmsgs mdh tbmt tbk rkgdsurkrs bmh tmekd m twf-tbgrhs sbmrk fa tbk prkigui sf fujbt tf amck md kqugvmokdt rgse. Xbk cfurtrkcfjdgskh tbmt tbk pfgdt wms m hgaagcuot fdk, mdh pkrigssgfd tf mppkmo wms jgvkd.

(>Y < Oofyhs \kp. 3;>.

(8)Xbk gdtkrprktmtgfd fa tbk mjrkkikdt.Xbgs pfgdt gs gooustrmtkh lyAfrsmergdjs Qkstmv. LutcbkrU=727Y = MC 2;< mdhJrfupmimv.CmtmtuilfU>>Y < Oofyhs \kp. 3;>mdh mosf ly tbk afoofwgdj cmsk0

Mck Gdsurmdck SM-DQv. Purgcb Gdsurmdck Cf.U>=Y Oofyhs \kp. G\ ;>8



\flkrt Ikregd


18/19

Dmlfrs, m cfipmdy lmskh gd Xkxms, wms gdsurkh mjmgdst imtkrgmo hmimjk tf gts Smuhg Mrmlgmd gdstmoomtgfds ly Sfo. Xbk pfogcy gipfskh vmrgfus

wmrrmdtgks fd Dmlfrs rkomtgdj tf tbk cfipmdys fpkrmtgfds. Sfo mctkh ms m arfdt afr Purgcb, mdh Purgcb rkgdsurkh Sfo. Xbk rkgdsurmdck cfdtrmct prfvghkh

tbmt moo hgsputks wkrk tf lk suligttkh tf tbk kxcousgvk ùrgshgctgfd fa tbk Cfurts fa Xkxms. Purgcb rkgdsurkh wgtb Mck, mdh wms stmtkh tf lk Ms frgjgdmo

mdh/fr ms frgjgdmo afoofwgdj tbk frgjgdmo gd moo rkspkcts gdcouhgdj comgis skttokikdts. Xbkrk wms gd mhhgtgfd md kxprkss skrvgck fa sugt comusk wbgcb

stmtkh tbmt tbk rkgdsurkrs wfuoh suligt tf tbk cfurt fa m cfipktkdt ùrgshgctgfd wgtbgd tbk [dgtkh Stmtks. Xbk rkgdsurmdck wms jfvkrdkh ly Kdjogsb omw.

Afoofwgdj m ofss gd Smuhg Mrmlgm, Mck cfiikdckh prfckkhgdjs gd Kdjomdh afr m hkcomrmtgfd tbmt tbkrk wms df ogmlgogty tf Purgcb ly rkmsfd fa m lrkmcb

fa wmrrmdtgks gd tbk hgrkct pfogcy wbgcb bmh lkkd gdcfrpfrmtkh gdtf tbk rkgdsurmdck. Purgcb sulskqukdtoy cfiikdckh prfckkhgdjs gd Xkxms. Xbk gssuk

wms wbktbkr tbk Kdjogsb prfckkhgdjs sbfuoh lk stmykh fd tbk jrfudh tbmt Xkxms wms m ifrk cfdvkdgkdt afrui.

Bkoh(C.M.)0 tbmt tbk Kdjogsb prfckkhgdjs sbfuoh lk stmykh, mdh tbmt tbk skrvgck fa sugt comusk wms cfdcousgvk gd cfdakrrgdj ùrgshgctgfd upfd tbk cfurts

fa Xkxms. Gd sf hkcghgdj, tbk Cfurt fa Mppkmo cfiikdtkh tbmt tbk amct tbmt tbk rkgdsurmdck wms jfvkrdkh ly Kdjogsb omw wms fa df sgjdgagcmdck gd

msckrtmgdgdj wbktbkr Kdjomdh wms tbk ifrk mpprfprgmtk ùrgshgctgfd ms, kvkd ga gt wms tbk cmsk tbmt tbk vmrgfus wmrrmdtgks gd tbk hgrkct pfogcy bmh lkkd

gdcfrpfrmtkh gdtf tbk rkgdsurmdck, tbk Kdjogsb cfurt wfuoh bmvk cfdstrukh tbk wmrrmdtgks cfdsgstkdtoy wgtb tbk omw fa Xkxms gd frhkr tf kdsurk lmce tf

lmce cfvkr. Xbus, tbk amct tbmt Kdjogsb omw jfvkrdkh tbk rkgdsurmdck mjrkkikdt wms fa df wkgjbt.

OgigtsXbkrk mrk tbrkk imgd sgtumtgfds gd wbgcb tbk prksuiptgfd fa lmce tf lmce cfvkr wgoo lk gdmppogcmlok.

Agrst, tbk prksuiptgfd gs ogigtkh tf prfpfrtgfdmo rkgdsurmdcks, dmikoy amcuotmtgvk cfdtrmcts mdh quftm sbmrk fr surpous trkmtgks. Gd

kmcb fa tbksk cmsks tbk rkgdsurkrs mdh tbk rkgdsurkh tf sfik kxtkdt sbmrk tbk prkiguis mdh tbk rgse. Ly cfdtrmst, wbkrk tbkrkgdsurmdck gs dfd-prfpfrtgfdmotbk ifst gipfrtmdt comss lkgdj kxckss fa ofss rkgdsurmdcktbk gdsurkr mdh tbk rkgdsurkr kmcbgdhkpkdhkdtoy msskss tbk rgse tf lk rud mdh tbk prkigui tf lk cbmrjkh.

Mxm \kgdsurmdck ([E) poc v. AgkohU=771Y < Oofyhs \kp. 8Y Oofyhs \kp. G\8>8Omdjoky @. afudh tbmt gt wms gipfssglok tf usk tbk lmce tf lmce cfvkr ruok fa cfdstructgfd tf hgsrkjmrh tkris gd tbk rkgdsurmdckmjrkkikdt sgipoy lkcmusk tbkrk wms df kqugvmokdt prfvgsgfd gd tbk hgrkct pfogcy. Kqumooy, tbk agdmdcgmo ogigts fa m rkgdsurmdckmjrkkikdt mrk dft fvkrrghhkd fd tbk lmsgs tbmt cfvkr gs gdtkdhkh tf lk lmce tf lmce0 gd Lmekr v. Lomce Skm mdh Lmotgc Jkdkrmo

Gdsurmdck Cf. OthU=772Y Oofyhs \kp. G\ 3:


\flkrt Ikregd


19/19

dft tf lk gdcrkmskh sf tbmt tbk rkgdsurmdck cfvkrkh tbk rkgdsurkhs hkakdck cfsts ms wkoo ms tbk rkgdsurkhs hgrkct ogmlgogty afr comgis.

Xbgrhoy, ms wms cfiikdtkh ly Omdjoky @. gd JK \kgdsurmdck Cfrpfrmtgfd, wbkrk (ms gd tbk cmsk lkafrk bgi) tbk udhkroygdjgdsurmdck mdh tbk rkgdsurmdck bmvk lkkd skpmrmtkoy dkjftgmtkh, tbkd tbkrk gs okss `ustgagcmtgfd afr mppoygdj tbk prgdcgpok fa lmce tflmce cfvkr. Xbk pfgdt wms mosf imhk gd Wfukoo v. Lomdh Zkocb & Cf. (Df. =) U=77

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