inspector general's report on s.e.c.'s stanford inquiry

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  • 8/9/2019 Inspector General's Report on S.E.C.'s Stanford Inquiry

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    _KZG_P GI AHYKRPAMNPAGH

    [HAPK@ RPNPKR RKB[_APAKR NH@ KVBFNHMK BGEEARRAGH

    GIIABK GI AHRZKBPG_ MKHK_ND

    Bnk Hg( GAM%;?9

    Ahykpamnpagh gi pfk RKB _kzghk pg Bghbkrh

    _kmnr`ahm _gokrp Nddkh Rpnhigr` Nddkmk` Zgh|a Rbfkek

    Enrbf 2>$ ?:>:

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    _K@NBPAGH CKQ

    NB 5 Nppgrhkq%Bdakhp Zrayadkmk

    @ZZ 5 @kdaokrnpayk Zrgbk Zrayadkmk

    DK 5 Dn} Khigrbkekhp Zrayadkmk

    ZAA 5 Zkrghnd A`khpaiqahm Ahigrenpagh

    ZZ 5 Zkrghnd Zraynbq

    ]Z 5 Nppgrhkq ]grc Zrg`{bp

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    _kzgrp gi Ahykpamnpagh

    Ahykpamnpagh gi pfk RKB _kzghk pg Bghbkrh

    _kmnr`ahm _gokrp Nddkh Rpnhigr` Nddkmk` Zgh|a Rbfkek

    Bnk Hg( GAM%;?9

    Pnodk gi Bghpkhp

    AHP_G@[BPAGH NH@ ONBCM_G[H@ ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >RBGZK GI PFK GAM AHYKRPAMNPAGH ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ?

    A( K%ENAD RKN_BFKR NH@ _KYAK] GI K%ENADR((((((((((((((((((((((((((((((((((((((((( ?AA( @GB[EKHP _K^[KRPR NH@ _KYAK] GI _KBG_@R(((((((((((((((((((((((((((((( 2AAA( PKRPAEGHQ NH@ AHPK_YAK]R ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 0

    _KDKYNHP RPNP[PKR _[DKR NH@ _KM[DNPAGHR((((((((((((((((((((((((((((((((((((((((((( >:KVKB[PAYK R[EEN_Q (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >9_KR[DPR GI PFK AHYKRPAMNPAGH (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ?1

    A( AH >11= PFK I]@G KVNEAHNPAGH RPNII _KYAK]K@RPNHIG_@R O_GCK_%@KNDK_ GZK_NPAGHR NH@EN@K N _KIK__ND PG KHIG_BKEKHP @[K PG NBGHBK_H PFNP APR RNDKR GI B@ BGHRPAP[PK@ NZGH\A RBFKEK((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ?1N( P}g Qknr Nipkr Rpnhigr` Mrg{z Bgeznhq Okmnh

    Gzkrnpagh pfk RKB A`khpaiak` Ap n n _ac nh` n Pnrmkp Igrnh Kvneahnpagh Onk` gh R{zabagh Pfnp Ap B@ Rndk]krk Irn{`{dkhp(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ?1

    O( Nipkr Bgh`{bpahm n Rfgrp Kvneahnpagh pfk KvneahnpaghRpnii Bghbd{`k` Pfnp Rpnhigr` ]n Zrgonodq Gzkrnpahm nZgh|a Rbfkek(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 2:

    B( N n _k{dp gi Pfkar Bghbkrh Pfnp Rpnhigr` ]nGzkrnpahm n Zgh|a Rbfkek pfk Kvneahnpagh Rpnii _kikrrk`Pfkar Rpnhigr` Iah`ahm pg pfk Khigrbkekhp Rpnii(((((((((((((((((((((((((((((((((((( 22

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    AA( KAMFP EGHPFR NIPK_ PFK KVNEAHNPAGH RPNII_KIK__K@ RPNHIG_@ PFK KHIG_BKEKHP RPNIIGZKHK@ NH@ ^[ABCDQ BDGRK@ N ENPPK_ [H@K_AH^[A_Q((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 20N( Pfk >116 Rpnhigr` E[A ]n Dackdq Hgp Kykh Gzkhk` ah

    _kzghk pg pfk Kvneahnpagh Rpnii _kikrrnd O{p ah_kzghk pg n Bghbkrh Irge pfk [(R( B{pge @kznrpekhpPfnp Rpnhigr ]n Dn{h`krahm Eghkq((((((((((((((((((((((((((((((((((((((((((((((((((((( 20

    O( Nipkr Rpnhigr` _ki{k` pg Zrg`{bk @gb{ekhp Hg I{rpfkrAhykpamnpayk Rpkz ]krk Pnckh(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 29

    B( Pfk Khigrbkekhp Rpnii Bdgk` pfk >116 Rpnhigr` E[APfrkk Eghpf Nipkr Ap ]n Gzkhk`(((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 2=>( Pfk Khigrbkekhp Rpnii Pgd` pfk Kvneahnpagh Rpnii

    Pfnp nh Ahykpamnpagh gi Rpnhigr` ]n Hgp ]nrrnhpk`Okbn{k gi pfk Dnbc gi [(R( Ahykpgr((((((((((((((((((((((((((((((((((((((((((((((26

    ?( Pfk Khigrbkekhp Rpnii Pgd` pfk Kvneahnpagh RpniiPfnp nh Ahykpamnpagh gi Rpnhigr` ]g{d` Ok Pgg@aiiab{dp Okbn{k gi pfk Rpnii Ahnoadapq pg Gopnah_kbgr` Irge Nhpam{n((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((21

    2( RMB G{pa`k Bg{hkd n Igrekr Fkn` Gi PfkRKB Igrp ]grpf Giiabk Enq Fnyk N{rk`

    Onrnbf Pfnp Pfkrk ]n Hgpfahm Pfkrk(((((((((((((((((((((((((((((((((((((((0:AAA( AH >116 PFK I]@G KVNEAHNPAGH RPNII KVNEAHK@

    RMBR AHYKRPEKHP N@YARK_ GZK_NPAGHR NH@_KNBFK@ PFK RNEK BGHBD[RAGH NR PFK O_GCK_%@KNDK_ KVNEAHK_R< RPNHIG_@R B@ RNDKR ]K_KZ_GONODQ I_N[@[DKHP((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 0?N( Pfk >116 Kvneahnpagh Bghbd{`k` Pfnp RMB Rndk gi RAO

    B@ ]krk Hgp Bghapkhp ]apf RMB Ia`{banrqGodamnpagh pg Ap Bdakhp [h`kr pfk Ahykpekhp N`yakr

    Nbp((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 00O( Pfk Khigrbkekhp Rpnii Inadk` pg Bgha`kr pfk Ahykpekhp

    N`yakr Kvneahkr Bghbkrh ah @kba`ahm Hgp pgAhykpamnpk Rpnhigr` I{rpfkr ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 09

    aa

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    AY( AH ?::? PFK RKB KVNEAHK_R KVNEAHK@ RMBRAHYKRPEKHP N@YARK_ GZK_NPAGHR NMNAH NH@_KIK__K@ RPNHIG_@ PG KHIG_BKEKHP (((((((((((((((((((((((((((((((((((((((((((( 0=N( Ah pfk ?::? Kvneahnpagh pfk Kvneahkr Ig{h` Pfnp

    Rpnhigr` B@ Rndk Fn` Ahbrknk` Ramhaiabnhpdq ]fabfDk` pg Bghbkrh Pfnp pfk Zgpkhpand Zgh|a Rbfkek ]nMrg}ahm (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 0=

    O( Pfk ?::? Kvneahnpagh Ig{h` Pfnp RMB ]n Yagdnpahm pfkAhykpekhp N`yakr Nbp Oq Inadahm pg Bgh`{bp Nhq @{k@adamkhbk _kdnpk` pg pfk RAO B@ (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ;:

    B( @{rahm pfk ?::? Kvneahnpagh pfk I]@G KhigrbkekhpRpnii _kbkayk` n Dkppkr Irge pfk @n{mfpkr gi nh Kd`krdq

    Rpnhigr` Ahykpgr Bghbkrhk` Pfnp pfk Rpnhigr` B@ ]krkIrn{`{dkhp ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ;2@( Pfk I]@G @a` Hgp _kzgh` pg pfk Dkppkr nh`

    @a` Hgp Pnck Nhq Nbpagh pg Ahykpamnpk Fkr Bdnae((((((((((((((((((((((((((((((( ;;K( Ndpfg{mf n @kbaagh ]n En`k pg Igr}nr` pfk

    Dkppkr pg pfk Pkvn Rpnpk Rkb{rapak Ognr` pfk Dkppkr ]nHkykr Igr}nr`k` (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ;9

    I( Ah @kbkeokr ?::? pfk Kvneahnpagh Rpnii _kikrrk` PfkarRpnhigr` Iah`ahm pg pfk Khigrbkekhp Rpnii ((((((((((((((((((((((((((((((((((((((((((((( ;9

    M( Onk` gh pfk Knrdakr @kbaagh pg Igr}nr` pfkDkppkr pg pfk PRRO pfk Enppkr ]n Bgha`krk` _kikrrk`pg pfk PRRO Kykh Okigrk pfk ?::? Kvneahnpagh _kzgrp]n Rkhp pg Khigrbkekhp(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ;=

    F( Pfk Khigrbkekhp Rpnii @a` Hgp Gzkh nh Ah~{arq AhpgRpnhigr` nh` @a` Hgp Kykh _kyak} pfk ?::? Kvneahnpagh_kzgrp(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( ;6

    A( Pfk Khigrbkekhp Rpnii @a` Hgp _kikr pfk ?::?Kvneahnpagh _kzgrp Iah`ahm pg pfk PRRO((((((((((((((((((((((((((((((((((((((((((((((( ;1

    L( Ah @kbkeokr ?::? pfk RKB Kvneahnpagh Rpnii Nppkezpk`pg Ahpkrkp pfk Ik`krnd _kkryk ah Ahykpamnpahm Rpnhigr`O{p Bghbd{`k` Pfnp pfk Ik`krnd _kkryk Fn`

    gi Rpnhigr ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 9:

    aaa

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Y( AH ?::2 PFK RKB KHIG_BKEKHP RPNII _KBKAYK@P]G BGEZDNAHPR PFNP RPNHIG_@ ]NR N ZGH\ARBFKEK O[P HGPFAHM ]NR @GHK PG Z[_R[K PFGRKBGEZDNAHPR(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 92N( ah n Zgh|a Rbfkek Bnk Iadk` Oq pfk RKB

    Hgpk` Rkykrnd Raeadnrapak Okp}kkh Pfnp Bnk nh`Rpnhigr` Gzkrnpagh ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 92

    O( Nh Nhghqeg{ Aha`kr ]nrhk` Pfnp Rpnhigr` ]nGzkrnpahm n Enayk Zgh|a Rbfkek (((((((((((((((((((((((((((((((((((((((((((((((((((((( 9;

    YA( AH GBPGOK_ ?::0 PFK KVNEAHNPAGH RPNIIBGH@[BPK@ N IG[_PF KVNEAHNPAGH GI RMB AHG_@K_ PG _KIK_ RPNHIG_@ PG PFK KHIG_BKEKHP

    RPNII NMNAH(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( =:N( Pfk Kvneahnpagh Rpnii ]n Ndnrek` np pfk Ahbrknahm Ra|k

    gi pfk Nzznrkhp Zgh|a Rbfkek nh` Nbbgr`ahmdq En`kNhgpfkr Khigrbkekhp _kikrrnd gi Rpnhigr` n Ykrq FamfZragrapq((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( =:

    O( Pfk ?::0 Kvneahnpagh _kzgrp Bghbd{`k` Pfnp pfk RAOB@ ]krk Rkb{rapak nh` ]krk Znrp gi n Ykrq Dnrmk Zgh|aRbfkek (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( =?

    B( Pfk Kvneahnpagh Rpnii Bgh`{bpk` Ramhaiabnhp Ahykpamnpayk]grc @{rahm pfk Rav Eghpf Irge Gbpgokr ?::0 Pfrg{mfEnrbf ?::; pg Ogdpkr Ap Nhpabaznpk` Khigrbkekhp_kikrrnd ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( =0

    @( Ah Enrbf ?::; Onrnbf nh` @kmkhfnr`p Dknrhk` gi pfkKvneahnpagh Rpnii ]grc gh Rpnhigr` nh` Pgd` Pfke Pfnpap ]n Hgp n Enppkr Pfnp Khigrbkekhp ]g{d` Z{r{k ((((((((((((((((((((((((((((( =1

    YAA( AH NZ_AD ?::; AEEK@ANPKDQ NIPK_ ON_NRBF DKIPPFK RKB PFK KVNEAHNPAGH RPNII _KIK__K@RPNHIG_@ PG KHIG_BKEKHP(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 6:N( Pfk Khigrbkekhp Rpnii Ahapanddq _knbpk` Khpf{anpabnddq pg

    pfk _kikrrnd nh` Gzkhk` n E[A(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 62O( Oq L{hk ?::; pfk Khigrbkekhp Rpnii Fn` @kba`k` pg _kikr

    pfk Enppkr pg pfk HNR@ Nzznrkhpdq n n Zrkb{rgr pgBdgahm pfk Enppkr((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 69

    ay

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    B( Ah Rkzpkeokr ?::; pfk Khigrbkekhp Rpnii @kba`k` pgBdgk pfk Rpnhigr` Ahykpamnpagh O{p pfk Kvneahnpagh RpniiIg{mfp pg Ckkz pfk Enppkr Gzkh (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 1:

    @( Ah Hgykeokr ?::; pfk Fkn` gi pfk I]@G KhigrbkekhpMrg{z Gykrr{dk` Fkr Rpnii Golkbpagh pg Bghpah{ahm pfkRpnhigr` Ahykpamnpagh nh` @kba`k` pg Rkkc n Igrend Gr`krah I{rpfkrnhbk gi Pfnp Ahykpamnpagh((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 1;

    YAAA(PFK KHIG_BKEKHP RPNII _KLKBPK@ PFKZGRRAOADAPQ GI IADAHM NH KEK_MKHBQ NBPAGHNMNAHRP RAO ONRK@ GH BA_B[ERPNHPAND KYA@KHBKPFNP AP ]NR GZK_NPAHM N ZGH\A RBFKEK((((((((((((((((((((((((((((((((((((((((( 16

    AV( PFK KHIG_BKEKHP RPNII _KLKBPK@ PFKZGRRAOADAPQ GI IADAHM NH NBPAGH NMNAHRP RMBRO_GCK_%@KNDK_ IG_ YN_AG[R YAGDNPAGHR GI PFKIK@K_ND RKB[_APAKR DN]R(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >:2

    V( PFK KHIG_BKEKHP RPNII @A@ HGP BGHRA@K_ IADAHMNH NBPAGH [H@K_ PFK AHYKRPEKHP N@YARK_R NBPPFNP BG[D@ FNYK ZGPKHPANDDQ RF[P @G]H RMBRRNDKR GI PFK RAO B@ ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >:1N( Pfk A{k gi ]fkpfkr pfk Rpnhigr` B@ ]krk Rkb{rapak

    ]n Arrkdkynhp pg nh Nbpagh Nmnahp RMB Igr Yagdnpagh gipfk Nhpa%Irn{` Zrgyaagh gi pfk Ahykpekhp N`yakr Nbp(((((((((((((((((((( >>:

    O( Pfk Khigrbkekhp Rpnii @a` Hgp Bgha`kr Iadahm n Rkbpagh?:9 Bnk gr Bgh`{bpahm n Rkbpagh ?:9 Ahykpamnpagh ((((((((((((((((((((((((((((( >>?>( Pfk ?::; _kikrrnd @a` Hgp Ekhpagh Rkbpagh ?:9(((((((((((((((((((((((((((>>??( Hkapfkr Bgfkh hgr Zrk{app Hgykeokr ?::;

    Ekegrnh`{e @ab{k` n Rkbpagh ?:9 Yagdnpagh((((((((((((((((((((((((((>>22( ]fkh pfk I]@G Rpnii Ekp ]apf N``dkenh Rfk

    ]n [hn}nrk Pfnp RMB ]n nh Ahykpekhp N`yakr (((((((((((((((((((>>0B( Pfk Khigrbkekhp Rpnii Bg{d` Fnyk Iadk` n Rkbpagh ?:9 Bnk

    ]apf pfk Zgpkhpand Igr Rf{ppahm @g}h RMB Rndk gi pfkRAO B@ nh`'gr @abgykrahm Kya`khbk gi pfk Zgh|a Rbfkek((((((((((((((((( >>;

    VA( FN@ PFK RKB IADK@ NH NBPAGH KN_DAK_RAMHAIABNHP AHYKRPG_ DGRRKR BG[D@ ZGPKHPANDDQFNYK OKKH NYGA@K@(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >>6

    y

  • 8/9/2019 Inspector General's Report on S.E.C.'s Stanford Inquiry

    8/159

    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    ya

    VAA( PFK RKB KHIG_BKEKHP RPNIIR INAD[_K PG O_AHMNH NBPAGH NMNAHRP RPNHIG_@ KN_DAK_ ]NR @[KAH ZN_P PG PFK RPNIIR ZK_BKZPAGH PFNP PFKBNRK ]NR @AIIAB[DP HGYKD NH@ HGP PFK PQZK GI

    BNRK INYG_K@ OQ PFK BGEEARRAGH(((((((((((((((((((((((((((((((((((((((((((((((((( >?>N( Rkhagr Khigrbkekhp Enhnmkekhp Kezfna|k` pfk Hkk`

    Igr Rpnp((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >?>O( Pfk Zrk{rk Igr Rpnp Enq Fnyk @abg{rnmk` pfk Rpnii

    Irge Z{r{ahm @aiiab{dp Bnk ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >?0B( Zgh|a Rbfkek Bnk ]krk @ainygrk` oq Rkhagr

    Khigrbkekhp Giiaband((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >?6@(

    Pfk RKB O{rkn{brnbq Enq Fnyk @abg{rnmk` pfk RpniiIrge Z{r{ahm Hgykd Dkmnd Bnk ((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >?1

    VAAA(NIPK_ DKNYAHM PFK RKB ON_NRBF RG[MFP PG_KZ_KRKHP RPNHIG_@ AH BGHHKBPAGH ]APF PFKRKB AHYKRPAMNPAGH GH PF_KK RKZN_NPK GBBNRAGHRNH@ @A@ _KZ_KRKHP RPNHIG_@ IG_ N DAEAPK@ZK_AG@ GI PAEK (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >2>N( Ah L{hk ?::; P}g Eghpf Nipkr Dknyahm pfk RKB Onrnbf

    Rg{mfp pg _kzrkkhp Rpnhigr` nh` ]n N`yak` Fk Bg{d`Hgp @g Rg ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >2>

    O( Ah Rkzpkeokr ?::9 Rpnhigr` _kpnahk` Onrnbf pg_kzrkkhp ap ah Bghhkbpagh ]apf pfk RKB Ahykpamnpagh giRpnhigr` nh` Onrnbf Zkrigrek` Dkmnd ]grc gh Okfndi giRpnhigr`((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >2=

    B( Ah Dnpk Hgykeokr ?::9 Nipkr Fk Fn` Ndrkn`q Zkrigrek`Dkmnd ]grc gh Rpnhigr` Okfndi Onrnbf Igr pfk Rkbgh`Paek Rg{mfp RKB Nzzrgynd pg _kzrkkhp Rpnhigr` nh` ]nNmnah Pgd` Fk Bg{d` Hgp @g Rg(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >0?

    @( Aeek`anpkdq Nipkr pfk RKB R{k` Rpnhigr` gh Ikor{nrq >=?::1 Onrnbf Nmnah Rg{mfp pg _kzrkkhp Rpnhigr` PfaPaek ah pfk Dapamnpagh ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >0;

    BGHBD[RAGH((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( >01

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    AHP_G@[BPAGH NH@ ONBCM_G[H@

    Gh Ikor{nrq >= ?::1 pfk Rkb{rapak nh` Kvbfnhmk Bgeeaagh &RKB grBgeeaagh! iadk` nh nbpagh ah pfk [(R( @aprabp Bg{rp igr pfk Hgrpfkrh @aprabp gi

    Pkvn nddkmahm pfnp _gokrp Nddkh Rpnhigr` nh` fa bgeznhak &bgddkbpaykdq fkrkahnipkrrkikrrk` pg n Rpnhigr`! grbfkprnpk` nh $6 oaddagh irn{` onk` gh indk zrgeak gim{nrnhpkk` rkp{rh rkdnpk` pg bkrpaiabnpk gi `kzgap &B@! a{k` oq pfk Nhpam{nh%onk`Rpnhigr` Ahpkrhnpaghnd Onhc &RAO!( Pfk RKB Bgezdnahp nddkmk` pfnp RAO gd`nzzrgvaenpkdq $6 oaddagh gi B@ pg ahykpgr oq zrgeaahm rkp{rh pfnp }krk aezrgonodkai hgp aezgaodk( Bgezdnahp RKB y( Rpnhigr` Ahpkrhnpaghnd Onhc Dp`( kp nd( Bnk Hg(2%:1BY:?16%D &H(@( Pkv( iadk` Ikor{nrq >= ?::1! nppnbfk` n Kvfaoap > np 2:(Z{r{nhp pg pfk RKB rk~{kp igr kekrmkhbq rkdaki pfk Bg{rp aeek`anpkdq a{k` npkezgrnrq rkprnahahm gr`kr irg|k pfk `kikh`nhp nkp nh` nzzgahpk` n rkbkaykr pgenrfnd pfgk nkp(> Nipkr rkyak}ahm `gb{ekhp gopnahk` irge pfk bg{rp%nzzgahpk`rkbkaykr pfk RKB iadk` nh nekh`k` bgezdnahp gh Ikor{nrq ?= ?::1 i{rpfkr nddkmahm pfnp

    Rpnhigr` }n bgh`{bpahm n Zgh|a bfkek(?

    Rfgrpdq nipkr pfk RKB iadk` ap nbpagh nmnahp Rpnhigr` pfk RKB Giiabk giAhzkbpgr Mkhkrnd &GAM! rkbkayk` kykrnd bgezdnahp nddkmahm pfnp pfk RKB Igrp]grpf @aprabp Giiabk &I]@G!2 fn` hgp `adamkhpdq z{r{k` ap ahykpamnpagh gi Rpnhigr`{hpad pfk En`gii Zgh|a bfkek bgddnzk` ah @kbkeokr ?::6( Pfk bgezdnahp ndgbrapaba|k` pfk RKB igr pnh`ahm `g}h irge ap ahykpamnpagh np gek zgahp ah rkzghk pgn rk~{kp irge nhgpfkr ik`krnd dn} khigrbkekhp khpapq(

    Pfk GAM ahykpamnpk` pfgk zkbaiab nddkmnpagh nh` a{k` n rkzgrp gh L{hk >1?::1( Rkk _kzgrp gi Ahykpamnpagh &_GA! Bnk Hg( GAM%;>9 khpapdk` Ahykpamnpagh gi

    Igrp ]grpf _kmaghnd Giiabk Bgh`{bp gi pfk Rpnhigr` Ahykpamnpagh(0

    Pfk GAM

    &Iggphgpk bghpah{k` gh hkvp znmk(!

    > Rkk Pkezgrnrq _kprnahahm Gr`kr Gr`kr Irkk|ahm Nkp Gr`kr _k~{arahm Nh Nbbg{hpahm Gr`kr

    _k~{arahm Zrkkrynpagh gi @gb{ekhp nh` Gr`kr N{pfgra|ahm Kvzk`apk` @abgykrq RKB y( Rpnhigr`Ahpkrhnpaghnd Onhc Dp`( kp nd( Bnk Hg( 2%:1BY:?16%D &H(@( Pkv( iadk` Ikor{nrq >= ?::1! nppnbfk` nKvfaoap ?3 Gr`kr Nzzgahpahm _kbkaykr RKB y( Rpnhigr` Ahpkrhnpaghnd Onhc Dp`( kp nd( Bnk Hg( 2%:1BY:?16%D &H(@( Pkv( iadk` Ikor{nrq >= ?::1! nppnbfk` n Kvfaoap 2(

    ? Rkk Iarp Nekh`k` Bgezdnahp RKB y( Rpnhigr` Ahpkrhnpaghnd Onhc Dp`( kp nd( Bnk Hg( 2%:1BY:?16%D &H(@( Pkv( iadk` Ikor{nrq ?= ?::1! nppnbfk` n Kvfaoap 0(

    2 Pfk Igrp ]grpf giiabk gi pfk RKB }n kdkynpk` pg n _kmaghnd Giiabk gh Nzrad ? ?::=( Rahbk pfkh pfkIgrp ]grpf giiabk fn rkzgrpk` `arkbpdq pg pfk RKB Fkn`~{nrpkr Giiabk ah ]nfahmpgh @B( Zragr pgNzrad ?::= pfk Igrp ]grpf giiabk }n n @aprabp Giiabk pfnp rkzgrpk` pg pfk RKB Bkhprnd _kmaghnd Giiabkah @khykr(

    0 Pfk GAM ahykpamnpagh ig{h` pfnp pfk I]@G pnii fn` ahykpamnpk` Rpnhigr` okigrk pfk @kbkeokr ?::6rkykdnpagh nog{p En`gii Zgh|a bfkek o{p pfnp ap kiigrp pg z{r{k ap {zabagh gi n Zgh|a bfkek fn`okkh fnezkrk` oq< >! n dnbc gi bggzkrnpagh gh pfk znrp gi Rpnhigr` nh` fa bg{hkd3 ?! bkrpnah l{ra`abpaghndgopnbdk3 nh` 2! nbbgr`ahm pg n [(R( @kznrpekhp gi L{pabk &@GL! ah`abpekhp braeahnd gopr{bpagh gi pfkI]@G Rpnhigr` ahykpamnpagh oq kykrnd ah`aya`{nd ahbd{`ahm pfk fkn` gi Nhpam{n Iahnhband Rkryabk_km{dnpgrq Bgeeaagh( Rkk _kzgrp gi Ahykpamnpagh Bnk Hg( GAM%;>9 khpapdk` Ahykpamnpagh gi Igrp

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    n egrkrkbkayk` n dkppkr `npk` Gbpgokr 1 ?::1 irge pfk Fghgrnodk @nya` Yappkr [hapk` RpnpkRkhnpk nh` pfk Fghgrnodk _abfnr` Rfkdoq [hapk` Rpnpk Rkhnpk rk~{kpahm bgezrkfkhayk nh` bgezdkpk ahykpamnpagh gi pfk fnh`dahm gi pfk ahykpamnpagh ahpg_gokrp Nddkh Rpnhigr` nh` fa ynrag{ bgeznhak( Pfk dkppkr zkbaiabnddq rk~{kpk`

    pfnp pfk GAM rkyak} ahpkr ndan pfk fapgrq gi ndd gi pfk RKB ahykpamnpagh nh`kvneahnpagh &bgh`{bpk` kapfkr oq pfk @ayaagh gi Khigrbkekhp gr oq pfk Giiabk giBgezdanhbk Ahzkbpagh nh` Kvneahnpagh! rkmnr`ahm Rpnhigr`( Nbbgr`ahmdq pfk GAMgzkhk` pfa ahykpamnpagh gh Gbpgokr >2 ?::1( Pfa ahykpamnpagh igb{k` gh nhqah`abnpagh pfnp pfk RKB fn` rkbkayk` zragr pg ?::9 pfnp Rpnhigr` }n gzkrnpahm n Zgh|abfkek gr gpfkr aeadnr irn{` nh` }fnp nbpagh ai nhq pfk RKB pggc ah rkzghk(

    RBGZK GI PFK GAM AHYKRPAMNPAGH

    A( K%ENAD RKN_BFKR NH@ _KYAK] GI K%ENADR

    Okp}kkh Gbpgokr >2 ?::1 nh` Ikor{nrq >9 ?:>: pfk GAM en`k h{ekrg{rk~{kp pg pfk RKB Giiabk gi Ahigrenpagh Pkbfhgdgmq &GAP! igr pfk k%enad gib{rrkhp nh` igrekr RKB kezdgqkk igr ynrag{ zkrag` gi paek zkrpahkhp pg pfkahykpamnpagh( Pfk k%enad }krk rkbkayk` dgn`k` ghpg bgez{pkr }apf zkbanda|k` knrbfpggd nh` knrbfk` gh n bghpah{g{ ona pfrg{mfg{p pfk bg{rk gi pfk ahykpamnpagh(

    Ah ndd pfk GAM rkbkayk` irge GAP k%enad igr n pgpnd gi 0? b{rrkhp nh` igrekrRKB kezdgqkk igr ynrag{ paek zkrag` zkrpahkhp pg pfk ahykpamnpagh rnhmahm irge >11=pg ?::1( Pfkk ahbd{`k`< 2; b{rrkhp gr igrekr I]@G kezdgqkk p}g b{rrkhp gr igrekr

    Fkn`~{nrpkr Giiabk gi Bgezdanhbk Ahzkbpagh nh` Kvneahnpagh &GBAK! kezdgqkkp}g b{rrkhp gr igrekr Fkn`~{nrpkr @ayaagh gi Prn`ahm nh` Enrckp kezdgqkk ghkb{rrkhp Fkn`~{nrpkr @ayaagh gi Khigrbkekhp &Khigrbkekhp! kezdgqkk ghk b{rrkhpFkn`~{nrpkr Kpfab Giiabk kezdgqkk nh` ghk igrekr Giiabk gi Kbghgeab Nhndqa&GKN! kezdgqkk( Pfk GAM kpaenpk pfnp ap gopnahk` nh` knrbfk` gykr ?(= eaddaghk%enad `{rahm pfk bg{rk gi ap ahykpamnpagh(

    ]grpf _kmaghnd Giiabk Bgh`{bp gi pfk Rpnhigr` Ahykpamnpagh( np fppz

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    AA( @GB[EKHP _K^[KRPR NH@ _KYAK] GI _KBG_@R

    Gh Gbpgokr ?= ?::1 pfk GAM khp bgezrkfkhayk `gb{ekhp rk~{kp pg ogpfKhigrbkekhp nh` GBAK zkbaiqahm pfk `gb{ekhp nh` rkbgr` }k rk~{ark` pg ok

    zrg`{bk` igr pfk ahykpamnpagh( Pfk GAM fn` h{ekrg{ k%enad nh` pkdkzfghabbgee{habnpagh }apf Khigrbkekhp nh` GBAK rkmnr`ahm pfk bgzk nh` paeahm gi pfk`gb{ekhp rk~{kp nh` rkzghk n }kdd n ekkpahm pg bdnraiq nh` kvznh` pfk `gb{ekhprk~{kp n hkbknrq(

    ]k bnrki{ddq rkyak}k` nh` nhndq|k` pfk ahigrenpagh rkbkayk` n n rk{dp gi g{r`gb{ekhp zrg`{bpagh rk~{kp( Pfkk `gb{ekhp ahbd{`k` o{p }krk hgp daeapk` pg pfgkrkdnpahm pg< &>! n >116 Rpnhigr` ah~{arq &EI]%::610!3 &?! n Rpnhigr` ah~{arq nh`ahykpamnpagh gzkhk` ah ?::; &EI]%:?1=2 nh` I]%:?1=2!3 &2! n >11= Orgckr%@kndkr&O%@! kvneahnpagh gi Rpnhigr` &Kvneahnpagh Hg( :9%@%1=%:2=!3 &0! n >116 AhykpekhpN`yakr &AN! kvneahnpagh gi Rpnhigr` &Kvneahnpagh Hg( 16%I%=>!3 &;! n ?::? AN

    kvneahnpagh gi Rpnhigr` &Kvneahnpagh Hg( AN ?::2 I]@G :>?!3 nh` &9! n ?::0 O%@kvneahnpagh gi Rpnhigr` &Kvneahnpagh Hg( O@ ?::; I]@G ::>!( Ah ahpnhbk }fkh`gb{ekhp }krk hgp nynadnodk bghbkrhahm n rkdkynhp enppkr pfk GAM g{mfp pkpaeghqnh` bgh`{bpk` ahpkryak} gi b{rrkhp nh` igrekr RKB zkrghhkd }apf zgaodk chg}dk`mkgi pfk enppkr(

    Pfk GAM ndg rk~{kpk` `gb{ekhp irge pfk Iahnhband Ah`{prq _km{dnpgrqN{pfgrapq &IAH_N! ahbd{`ahm `gb{ekhp bghbkrhahm bgee{habnpagh okp}kkh IAH_Ngr ap zrk`kbkgr pfk Hnpaghnd Ngbanpagh gi Rkb{rapak @kndkr &HNR@! nh` pfk RKBbghbkrhahm Rpnhigr` nh` `gb{ekhp bghbkrhahm pfk RKB kvneahnpagh nh` ah~{arak giRpnhigr`( Pfk GAM ndg rkbkayk` nh` rkyak}k` `gb{ekhp zrgya`k` oq pfk Rpnhigr

    Yabpae Bgndapagh ahbd{`ahm pfk rk{dp gi {rykq gi Rpnhigr` ahykpgr bgh`{bpk` oq pfkRpnhigr` Yabpae Bgndapagh(

    Pfk GAM ndg rkyak}k` h{ekrg{ gpfkr z{odabdq nynadnodk `gb{ekhp ahbd{`ahm! Bgezdnahp iadk` oq pfk RKB nmnahp Rpnhigr` nh` rkdnpk` znrpak ah ?::13 &?! pfk ?::1ah`abpekhp gi _gokrp Nddkh Rpnhigr` nh` gpfkr3 &2! nrpabdk ah ynrag{ hk} ek`anbghbkrhahm Rpnhigr`3 nh` &0! RKB Dapamnpagh _kdknk nh` nh N`eahaprnpayk Zrgbkk`ahm_kdknk bghbkrhahm

    2

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    AAA( PKRPAEGHQ NH@ AHPK_YAK]R

    Pfk GAM bgh`{bpk` ;> pkpaeghak nh` ahpkryak} gi 06 ah`aya`{nd }apfchg}dk`mk gi inbp gr barb{epnhbk {rrg{h`ahm pfk RKB kvneahnpagh nh`'gr

    ahykpamnpagh gi Rpnhigr` nh` fa bgeznhak(

    RKB Ahzkbpgr Mkhkrnd F( @nya` Cgp| zkrghnddq dk` pfk ~{kpaghahm ah pfkpkpaeghq nh` ahpkryak} gi hknrdq ndd pfk }aphkk ah pfk ahykpamnpagh( Cgp| ndg dk`pfk ahykpamnpayk pkne igr pfa _GA }fabf ahbd{`k`

    (;

    Pfk GAM bgh`{bpk` pkpaeghq gh%pfk%rkbgr` nh` {h`kr gnpf gi pfk igddg}ahm ?6ah`aya`{nd! L{dak Zrk{app Napnhp @arkbpgr &igrekr Ornhbf Bfaki! I]@G Orgckr%@kndkr Kvneahnpagh mrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckhgh @kbkeokr >0 ?::1 &@kbkeokr >0 ?::1 Zrk{app Pkpaeghq Pr(! nh`Lnh{nrq ?9 ?:>: &Lnh{nrq ?9 ?:>: Zrk{app Pkpaeghq Pr(!( Kvbkrzp giPkpaeghq Prnhbrazp nppnbfk` n Kvfaoap ; nh` 9 rkzkbpaykdq(

    ?! igrekr Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh @kbkeokr >0 ?::1& Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap =(

    2! Enrq Dg{ Ikdenh igrekr Napnhp @aprabp N`eahaprnpgr I]@GKvneahnpagh zrgmrne Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh@kbkeokr >; ?::1 &Ikdenh Pkpaeghq Pr(!( Kvbkrzp gi PkpaeghqPrnhbrazp nppnbfk` n Kvfaoap 6(

    0! Rpnii Nbbg{hpnhp I]@G Orgckr%@kndkr Kvneahnpaghmrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh @kbkeokr >;?::1 & Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap 1(

    ;! [ha`khpaiak` igrekr Ornhbf Bfaki I]@G Khigrbkekhp zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 @kbkeokr >; ?::1 &[ha`khpaiak`Igrekr I]@G Khigrbkekhp Ornhbf Bfaki Pkpaeghq Pr(!( Kvbkrzp giAhpkryak} Prnhbrazp nppnbfk` n Kvfaoap >:(

    ; Ramhaiabnhp napnhbk ah pfa ahykpamnpagh }n ndg zrgya`k` oq

    0

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    9! Kvneahkr I]@G Ahykpekhp N`yakr Kvneahnpagh mrg{zRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >> ?:>: & Pkpaeghq Pr(!( Kvbkrzp gi Ahpkryak} Prnhbrazp nppnbfk` n Kvfaoap >>(

    =! Kvneahkr I]@G Ahykpekhp N`yakr Kvneahnpaghmrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >> ?:>:

    Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` nKvfaoap >?(

    6! Ornhbf Bfaki I]@G Khigrbkekhp zrgmrne Rkb{rapaknh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >> ?:>: & Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` n Kvfaoap>2(

    1! Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrne Rkb{rapak nh`Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >> ?:>:(

    >:! Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrne Rkb{rapaknh` Kvbfnhmk Bgeeaagh

    pnckh gh Lnh{nrq >>?:>: Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap >0(

    >>! Ornhbf Bfaki I]@G Khigrbkekhp zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >? ?:>:& Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap >;(

    >?! [ha`khpaiak` igrekr Ornhbf Bfaki I]@G Kvneahnpagh mrg{z Rkb{rapaknh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >? ?:>: &[ha`khpaiak`Igrekr I]@G Kvneahnpagh Ornhbf Bfaki Pkpaeghq Pr(!( Kvbkrzp giPkpaeghq Prnhbrazp nppnbfk` n Kvfaoap >9(

    >2! Kvneahkr I]@G Ahykpekhp N`yakr Kvneahnpagh mrg{zRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq >2 ?:>:& Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` nKvfaoap >=(

    >0! OrnhbfBfaki I]@G Orgckr%@kndkr Kvneahnpagh mrg{z nh` igrekr KvneahkrI]@G Ahykpekhp N`yakr Kvneahnpagh mrg{z Rkb{rapak nh` KvbfnhmkBgeeaagh3 pnckh gh Lnh{nrq ?9 ?:>:(

    >;! Yabpgran Zrkbgpp Rzkband Rkhagr Bg{hkd I]@G Orgckr%@kndkrKvneahnpagh mrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh

    ;

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Lnh{nrq ?= ?:>: &Zrkbgpp Pkpaeghq Pr(!( Kvbkrzp gi PkpaeghqPrnhbrazp nppnbfk` n Kvfaoap >6(

    >9! Napnhp @arkbpgr I]@G Khigrbkekhp zrgmrne Rkb{rapaknh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq ?= ?:>: kpaeghqPr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` n Kvfaoap >1(

    >=! F{mf ]ramfp igrekr Napnhp @aprabp N`eahaprnpgr I]@GKvneahnpagh mrg{z &igrekr Napnhp @arkbpgr I]@G Khigrbkekhpzrgmrne! Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq ?=?:>: &]ramfp Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazpnppnbfk` n Kvfaoap ?:(

    >6! Rkhagr Bg{hkd I]@G Kvneahnpagh zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq ?= ?:>:

    & Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap ?>(

    >1! Cnpfkrahk N``dkenh igrekr Ngbanpk @aprabp @arkbpgr I]@GKhigrbkekhp mrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh ghLnh{nrq ?6 ?:>: &N``dkenh Pkpaeghq Pr(!( Kvbkrzp gi PkpaeghqPrnhbrazp nppnbfk` n Kvfaoap ??(

    ?:! Ornhbf Bfaki I]@G Orgckr%@kndkrKvneahnpagh mrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh ghLnh{nrq ?6 ?:>: Pkpaeghq Pr(!( Kvbkrzp gi PkpaeghqPrnhbrazp nppnbfk` n Kvfaoap ?2(

    ?>! Ornhbf Bfaki I]@G Orgckr%@kndkr Kvneahnpaghmrg{z Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Lnh{nrq ?6 ?:>:

    Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk`n Kvfaoap ?0(

    ??! Lkiirkq Bgfkh Napnhp @arkbpgr I]@G Khigrbkekhp zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Ikor{nrq >9 ?:>:&Bgfkh Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` nKvfaoap ?;(

    ?2! Prand Bg{hkd I]@G I]@G Khigrbkekhp zrgmrne! Rkb{rapak nh` Kvbfnhmk Bgeeaagh3pnckh gh Ikor{nrq >9 ?:>: & Pkpaeghq Pr(!( Kvbkrzp giPkpaeghq Prnhbrazp nppnbfk` n Kvfaoap ?9(

    9

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    ?0! Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrne Rkb{rapak nh`Kvbfnhmk Bgeeaagh3 pnckh gh Ikor{nrq >9 ?:>: PkpaeghqPr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` n Kvfaoap ?=(

    ?;! _abfnr` Bghhgr Napnhp Kpfab Bg{hkd Rkb{rapak nh` KvbfnhmkBgeeaagh3 pnckh gh Ikor{nrq ?2 ?:>: &Bghhgr Pkpaeghq Pr(!(Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` n Kvfaoap ?6(

    ?9! Kvneahkr I]@G Orgckr%@kndkr Kvneahnpagh mrg{zRkb{rapak nh` Kvbfnhmk Bgeeaagh3 pnckh gh Ikor{nrq ?9 ?:>:

    Pkpaeghq Pr(!( Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` nKvfaoap ?1(

    ?=! Ornhbf Bfaki I]@G Khigrbkekhp zrgmrne Rkb{rapak nh`Kvbfnhmk Bgeeaagh3 pnckh gh Enrbf ? ?:>: Pkpaeghq Pr(!(

    Kvbkrzp gi Pkpaeghq Prnhbrazp nppnbfk` n Kvfaoap 2:(

    ?6! Rkhagr Bg{hkd Rkb{rapaknh` Kvbfnhmk Bgeeaagh3 pnckh gh Enrbf >> ?:>:(

    Pfk GAM ndg bgh`{bpk` ahpkryak} gi pfk igddg}ahm ?: zkrgh }apf rkdkynhpkvzkrpak nh`'gr chg}dk`mk gi ahigrenpagh zkrpahkhp pg pfk ahykpamnpagh! L{dak Zrk{app Napnhp @arkbpgr &igrekr Ornhbf Bfaki! I]@G Orgckr%@kndkr Kvneahnpagh mrg{z3 bgh`{bpk` gh Gbpgokr ? ?::1 &Zrk{appAhpkryak} Pr(! nh` Hgykeokr ? ?::1 &Zrk{app Ahpkryak}

    Ekegrnh`{e! nppnbfk` n Kvfaoap 2> nh` 2? rkzkbpaykdq(

    ?! Yabpgran Zrkbgpp Rzkband Rkhagr Bg{hkd I]@G Orgckr%@kndkrKvneahnpagh zrgmrne Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 bgh`{bpk`gh Gbpgokr ?1 ?::1 &Zrkbgpp Ahpkryak} Pr(!( Kvbkrzp gi Ahpkryak}Prnhbrazp nppnbfk` n Kvfaoap 22(

    2! Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrne Rkb{rapaknh` Kvbfnhmk Bgeeaagh3 bgh`{bpk` gh Hgykeokr 2 ?::1 & Ahpkryak} Pr(!( Kvbkrzp gi Ahpkryak} Prnhbrazp nppnbfk` n Kvfaoap 20(

    0! igrekr Rpnii Nppgrhkq I]@G Khigrbkekhp zrgmrneRkb{rapak nh` Kvbfnhmk Bgeeaagh3 bgh`{bpk` gh Hgykeokr 1 ?::1(

    ;! RKB Giiabk giKbghgeab Nhndqa Rkb{rapak nh` Kvbfnhmk Bgeeaagh3 bgh`{bpk` ghIkor{nrq 2 nh` ; ?:>: Ahpkryak} Ekegrnh`{e!( Ekegrnh`{egi Ahpkryak} nppnbfk` n Kvfaoap 2;(

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

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    9! Fnrgd` @kmkhfnr`p igrekr @aprabp N`eahaprnpgr I]@G Rkb{rapak nh`Kvbfnhmk Bgeeaagh3 bgh`{bpk` gh Ikor{nrq >= ?:>: &@kmkhfnr`pAhpkryak} Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap29(

    =! ]nqhk Rkbgrk Znrphkr Rkbgrk ) ]nddkr DDZ3 igrekr @aprabpN`eahaprnpgr I]@G3 bgh`{bpk` Ikor{nrq >= ?:>: &Rkbgrk Ahpkryak}Pr(!( Kvbkrzp gi Ahpkryak} Prnhbrazp nppnbfk` n Kvfaoap 2=(

    6! Lnbc Onddnr` Znrphkr Onddnr` ) Dappdkiakd` D(D(Z(3 igrekr Znrphkr Gm`khMaogh ]fapk ) Orggbc D(D(Z(3 bgh`{bpk` Ikor{nrq >1 ?:>: &Onddnr`Ahpkryak} Pr(!( Kvbkrzp gi Ahpkryak} Prnhbrazp nppnbfk` n Kvfaoap 26(

    1! Pkvn Rpnpk Rkb{rapakOgnr`3 bgh`{bpk` gh Ikor{nrq ?0 ?:>: Ahpkryak}Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap 21(

    >:! @khak Brn}igr` Pkvn Rkb{rapak Bgeeaaghkr Pkvn Rpnpk Rkb{rapakOgnr`3 bgh`{bpk` gh Enrbf > ?:>: &PRRO Ahpkryak} Ekegrnh`{e!(Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap 0:(

    >>! Pkvn Rpnpk Rkb{rapak Ognr`3bgh`{bpk` gh Enrbf > ?:>: &PRRO Ahpkryak} Ekegrnh`{e!(Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap 0:(

    >?! PkvnRpnpk Rkb{rapak Ognr`3 bgh`{bpk` gh Enrbf > ?:>: &PRRO Ahpkryak}Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap 0:(

    >2! Rzkhbkr Onrnbf Znrphkr Nh`rk} C{rpf DDZ3 igrekr Napnhp @arkbpgrI]@G Khigrbkekhp zrgmrne Rkb{rapak nh` Kvbfnhmk Bgeeaagh3bgh`{bpk` gh Enrbf ? ?:>: &Onrnbf Ahpkryak} Pr(!( Kvbkrzp giAhpkryak} Prnhbrazp nppnbfk` n Kvfaoap 0>(

    >0! Dkqdn SOnnmgapanU ]q`dkr igrekr rkmapkrk` rkzrkkhpnpayk gi Rpnhigr`Mrg{z Bgeznhq3 bgh`{bpk` gh Enrbf 2 ?:>: &]q`dkr Ahpkryak} Pr(!(Kvbkrzp gi Ahpkryak} Prnhbrazp nppnbfk` n Kvfaoap 0?(

    >;! Bfnrdk _n}d Zrka`khp \khapf ]kndpf Enhnmkekhp DDB3 igrekrIahnhband N`yagr Rpnhigr` Mrg{z Bgeznhq3 bgh`{bpk` gh Enrbf 1?:>: &_n}d nh` Pa`}kdd Ahpkryak} Pr(!( Kvbkrzp gi Ahpkryak}Prnhbrazp nppnbfk` n Kvfaoap 02(

    >9! Enrc Pa`}kdd BKG \khapf ]kndpf Enhnmkekhp DDB3 igrekr IahnhbandN`yagr Rpnhigr` Mrg{z Bgeznhq3 bgh`{bpk` gh Enrbf 1 ?:>: &_n}d

    6

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

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    >=! @ayaagh gi _ac Rprnpkmq nh`Iahnhband Ahhgynpagh3 bgh`{bpk` gh Enrbf ?? ?:>: Ahpkryak}Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap 00(

    >6! @ayaagh gi _ac Rprnpkmq nh`Iahnhband Ahhgynpagh3 bgh`{bpk` gh Enrbf ?2 ?:>: nh` OkrenhAhpkryak} Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap0;(

    >1! Mrkmm Okrenh Rkhagr Zgdabq N`yagr @ayaagh gi _ac Rprnpkmq nh`Iahnhband Ahhgynpagh3 bgh`{bpk` gh Enrbf ?2 ?:>: nh` OkrenhAhpkryak} Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap

    0;(

    ?:! Rpnhigr` Yabpae3 bgh`{bpk` gh Enrbf ?9 ?:>: &Rpnhigr` YabpaeAhpkryak} Ekegrnh`{e!( Ekegrnh`{e gi Ahpkryak} nppnbfk` n Kvfaoap09(

    1

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    _KDKYNHP RPNP[PKR$ _[DKR NH@ _KM[DNPAGHR

    Pfk Bgeeaagh Bgh`{bp _km{dnpagh nh` Bnhgh gi Kpfab

    Pfk Bgeeaagh _km{dnpagh Bghbkrhahm Bgh`{bp gi Ekeokr nh` Kezdgqkknh` Igrekr Ekeokr nh` Kezdgqkk gi pfk Bgeeaagh &fkrkahnipkr Bgh`{bp_km{dnpagh! np >= B(I(_( ?::(=2;%> kp k~( kp igrpf pfk pnh`nr` gi kpfabndbgh`{bp rk~{ark` gi Bgeeaagh ekeokr nh` b{rrkhp nh` igrekr kezdgqkk gi pfk RKB&fkrkahnipkr rkikrrk` pg bgddkbpaykdq n kezdgqkk!( Pfk Bgh`{bp _km{dnpagh pnpk ahznrp= B(I(_( ?::(=2;%?(

    _{dk 6 gi pfk Bgh`{bp _km{dnpagh zrgfaoap n igrekr Bgeeaagh kezdgqkk irgenzzknrahm okigrk pfk Bgeeaagh ah n rkzrkkhpnpayk bnznbapq ah n znrpab{dnr enppkr ah}fabf fk gr fk znrpabaznpk` zkrghnddq nh` {opnhpanddq }fadk nh kezdgqkk gi pfkBgeeaagh( >= B(I(_( ?::(=2;%6 &n!&>!(9 Igr z{rzgk gi _{dk 6 n enppkr a `kiahk`n n `abrkpk nh` agdnpnodk prnhnbpagh gr kp gi prnhnbpagh okp}kkh a`khpaianodk

    znrpak( >= B(I(_( ?::(=2;%6&n!&>!(

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    9 _{dk 6 ndg aezgk n p}g%qknr rkprabpagh gh n igrekr kezdgqkk irge nzzknrahm okigrk pfkBgeeaagh ah n rkzrkkhpnpayk bnznbapq ah nhq enppkr pfnp }n {h`kr fa gr fkr giiaband rkzghaoadapq n nhkezdgqkk gi pfk Bgeeaagh np nhq paek }apfah n zkrag` gi SghkU qknr zragr pg pfk pkreahnpagh gi {bfrkzghaoadapq( >= B(I(_( ?::(=2;%6&n!&2!(

    >:

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pfk Bnhgh zrgya`k pfnp SaUh n`eahapkrahm pfk dn} ekeokr gi pfaBgeeaagh fg{d` yamgrg{dq khigrbk bgezdanhbk }apf pfk dn} oq ndd zkrgh niikbpk`pfkrkoq( >= B(I(_( ?::(;;( Pfk Bnhgh nbchg}dk`mk pfnp Ekeokr gi pfkBgeeaagh nrk khpr{pk` oq ynrag{ khnbpekhp gi pfk Bghmrk }apf zg}kr nh`

    `{pak gi mrknp gband nh` kbghgeab amhaiabnhbk pg pfk Nekrabnh zkgzdk nh` pfnp SaUp apfkar pnc pg rkm{dnpk ynrak` nzkbp gi pfk Nekrabnh kbghgeq }apfah pfk daeapzrkbraok` oq Bghmrk pg ah{rk pfnp g{r zraynpk khpkrzrak qpke kryk pfk }kdinrk gindd bapa|kh( >= B(I(_( ?::(;2( Nbbgr`ahm pg pfk Bnhgh SpUfkar {bbk ah pfakh`knygr a n o{d}nrc nmnahp zgaodk no{k nh` ahl{pabk }fabf ai dkip {hbfkbck`eamfp lkgznr`a|k pfk prkhmpf gi g{r kbghgeab ahpap{pagh( A`( Pfk Bnhgh ndg niiareN ekeokr fg{d` hgp ok }nqk` oq znrpanh `kenh` z{odab bdnegr gr bgha`krnpaghgi zkrghnd zgz{dnrapq gr hgpgrakpq3 g ndg fk fg{d` ok nogyk iknr gi {hl{p brapabae oqnhqghk( >= B(I(_( ?::(;6( Pfk Bnhgh i{rpfkr pnpk N ekeokr fg{d` hgp oq fabgh`{bp zkreap pfk aezrkagh pg zrkynad pfnp nhq zkrgh bnh aezrgzkrdq ahid{khbk faegr pfnp nhq zkrgh {h`{dq khlgq fa inygr gr pfnp fk a niikbpk` ah nhq }nq oq pfk rnhc

    zgapagh zrkpamk gr niid{khbk gi nhq zkrgh( >= B(I(_( ?::(9>(

    Mgykrhekhp%]a`k Rpnh`nr` gi Kpfabnd Bgh`{bp

    Pfk Rpnh`nr` gi Kpfabnd Bgh`{bp igr Kezdgqkk gi pfk Kvkb{payk Ornhbf ahbd{`kpfk igddg}ahm mkhkrnd zrahbazdk pfnp nzzdq pg kykrq ik`krnd kezdgqkk! Z{odab kryabk a n z{odab pr{p rk~{arahm kezdgqkk pg zdnbkdgqndpq pg pfk Bghpap{pagh pfk dn} nh` kpfabnd zrahbazdk nogykzraynpk mnah(

    , , ,

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    ok `kpkreahk` irge pfk zkrzkbpayk gi n rknghnodk zkrgh }apfchg}dk`mk gi pfk rkdkynhp inbp(

    ; B(I(_( ?92;(>:>&o!(

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Ik`krnd Zgp%Kezdgqekhp Rpnp{pk nh` _{dk

    Ik`krnd bghidabp%gi%ahpkrkp dn} aezgk gh igrekr mgykrhekhp kezdgqkk ndaikpaek onh gh encahm n bgee{habnpagh pg gr nzzknrnhbk okigrk n ik`krnd nmkhbq gr

    bg{rp n igddg}9 gi pfa papdk(

    >6 [(R(B( ?:=&n!&>!(=

    Pfk pnp{pk `kiahk pfk pkre znrpabaznpk` SnU nh nbpagh pnckh n nh giiabkr grkezdgqkk pfrg{mf `kbaagh nzzrgynd `anzzrgynd rkbgeekh`npagh pfk rkh`krahm gin`yabk ahykpamnpagh gr gpfkr {bf nbpagh( >6 [(R(B( ?:=&a!&?!( Rkk ndg ; B(I(_( ?90>(?:>&a!&>!( [h`kr pfk aezdkekhpahm kpfab rkm{dnpagh SpUg znrpabaznpkzkrghnddq eknh pg znrpabaznpk< &a! @arkbpdq kapfkr ah`aya`{nddq gr ah bgeoahnpagh }apfgpfkr zkrgh3 gr &aa! Pfrg{mf `arkbp nh` nbpayk {zkryaagh gi pfk znrpabaznpagh gi nhqzkrgh Spfk kezdgqkkU {zkryak ahbd{`ahm n {ogr`ahnpk( ; B(I(_( ?90>(?:>&a!&?!(Pg znrpabaznpk {opnhpanddq eknh pfnp pfk kezdgqkk ahygdykekhp a gi amhaiabnhbkpg pfk enppkr( ; B(I(_( ?90>(?:>&a!&2!( Znrpabaznpagh enq ok {opnhpand kykh ai ap ahgp `kpkreahnpayk gi pfk g{pbgek gi n znrpab{dnr enppkr( A`(

    = Ah n``apagh dack _{dk 6&n!&2! >6 [(R(B( ?:=&n!&?! bghpnah n p}g%qknr rkprabpagh zkrpnahahm pgznrpab{dnr enppkr }fabf n igrekr kezdgqkk chg} gr rknghnodq fg{d` chg} S}krkU nbp{nddq zkh`ahm{h`kr fa gr fkr giiaband rkzghaoadapq n Sn mgykrhekhpU giiabkr gr kezdgqkk }apfah n zkrag` gi SghkU qknrokigrk pfk pkreahnpahm gi fa gr fkr kryabk gr kezdgqekhp }apf pfk [hapk` Rpnpk ( ( ( (

    >?

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    I{rpfkr pfk pnp{pk `kiahk pfk pkre znrpab{dnr enppkr SnU nhq ahykpamnpaghnzzdabnpagh rk~{kp igr n r{dahm gr `kpkreahnpagh r{dkencahm bghprnbp bghprgykrqbdnae bfnrmk nbb{npagh nrrkp gr l{`aband gr gpfkr zrgbkk`ahm( >6 [(R(B( ?:=&a!&2!(Pfk aezdkekhpahm rkm{dnpagh bdnraiq pfk pnp{pgrq zrgfaoapagh n igddg}(?:>&f!&;!&a!(

    Pfk rkm{dnpagh ndg enck bdknr pfnp S}Ufkh n znrpab{dnr enppkr ahygdyahmzkbaiab znrpak okmah `kzkh` gh pfk inbp nh` zrgya`k ah znrp n igddg}(?:>&f!&0!( Ghk gi pfk kvnezdk bghpnahk` ah pfk rkm{dnpagh zrgya`k nigddg} pg ; B(I(_( ?90>(?:>&f!&0!(

    >2

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Onr _{dk gi Zrgikaghnd Bgh`{bp

    Pfk @aprabp gi Bgd{eoan Onr _{dk gi Zrgikaghnd Bgh`{bp zrgya`k n igddg}(>>R{bbkayk Mgykrhekhp nh` ZraynpkKezdgqekhp

    &n! N dn}qkr fndd hgp nbbkzp gpfkr kezdgqekhp ahbghhkbpagh }apf n enppkr }fabf a pfk nek n gr{opnhpanddq rkdnpk` pg n enppkr ah }fabf pfk dn}qkrznrpabaznpk` zkrghnddq nh` {opnhpanddq n n z{odabgiiabkr gr kezdgqkk( R{bf znrpabaznpagh ahbd{`knbpahm gh pfk ekrap gi n enppkr ah n l{`aband gr gpfkrn`l{`abnpayk bnznbapq(

    @aprabp gi Bgd{eoan _{dk gi Zrgikaghnd Bgh`{bp _{dk >(>> nppnbfk` n Kvfaoap 0=(

    Bgeekhp 0 pg _{dk >(>> `ab{k pfk eknhahm gi pfk pkre {opnhpanddq rkdnpk`n {k` ah pfk r{dk ah znrp n igddg}160!&kh onhb!( Pfkrk pfk @(B( Bg{rp giNzzknd kh onhb fkd` pfnp ah pfk rkygdyahm `ggr bghpkvpn fg}ahm pfnp n rknghnodk zkrgh bg{d` ahikr pfnp

    pfrg{mf znrpabaznpagh ah ghk enppkr n n z{odab giiabkr gikezdgqkk pfk igrekr mgykrhekhp dn}qkr enq fnyk fn`nbbk pg ahigrenpagh dkmnddq rkdkynhp pg gr gpfkr}ak{ki{d ah n {ok~{khp rkzrkkhpnpagh azraen inbakkya`khbk pfnp pfk p}g enppkr nrk {opnhpanddq rkdnpk`( Aipfazraen inbak fg}ahm a en`k pfk igrekr mgykrhekhpdn}qkr e{p `azrgyk nhq kpfabnd aezrgzrakpq oq fg}ahmpfnp pfk dn}qkr bg{d` hgp fnyk mnahk` nbbk pgahigrenpagh `{rahm pfk iarp rkzrkkhpnpagh pfnp eamfp ok{ki{d ah pfk dnpkr rkzrkkhpnpagh(

    A`(Pfk Pkvn @abazdahnrq _{dk gi Zrgikaghnd Bgh`{bp zrgya`k n igddg}(>: R{bbkayk Mgykrhekhp nh` ZraynpkKezdgqekhp

    &n! Kvbkzp n dn} enq gpfkr}ak kvzrkdq zkreap ndn}qkr fndd hgp rkzrkkhp n zraynpk bdakhp ah

    >0

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    bghhkbpagh }apf n enppkr ah }fabf pfk dn}qkrznrpabaznpk` zkrghnddq nh` {opnhpanddq n n z{odabgiiabkr gr kezdgqkk {hdk pfk nzzrgzranpkmgykrhekhp nmkhbq bghkhp nipkr bgh{dpnpagh(

    Rkk Pkvn @abazdahnrq _{dk gi Zrgikaghnd Bgh`{bp _{dk >(>: nppnbfk` n Kvfaoap 06(

    Igr z{rzgk gi pfk nogyk r{dk pfk pkre enppkr ahbd{`k! Nhq n`l{`abnpgrq zrgbkk`ahm nzzdabnpagh rk~{kpigr n r{dahm gr gpfkr `kpkreahnpagh bghprnbp bdnaebghprgykrq ahykpamnpagh bfnrmk nbb{npagh nrrkpgr gpfkr aeadnr znrpab{dnr prnhnbpagh ahygdyahm nzkbaiab znrpq gr znrpak3 nh`

    &?! nhq gpfkr nbpagh gr prnhnbpagh bgykrk` oq pfkbghidabp gi ahpkrkp r{dk gi pfk nzzrgzranpkmgykrhekhp nmkhbq(

    A`( np _{dk >(>:&i!(

    >;

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    KVKB[PAYK R[EEN_Q

    Pfk GAM ahykpamnpagh ig{h` pfnp pfk RKB Igrp ]grpf giiabk }n n}nrk ahbk>11= pfnp _gokrp Nddkh Rpnhigr` }n dackdq gzkrnpahm n Zgh|a bfkek fnyahm bgek pgpfnp bghbd{agh n ekrk p}g qknr nipkr Rpnhigr` Mrg{z Bgeznhq &RMB! Rpnhigr`ahykpekhp n`yakr rkmapkrk` }apf pfk RKB ah >11;( ]k ig{h` pfnp gykr pfk hkvp 6qknr pfk RKB Igrp ]grpf Kvneahnpagh mrg{z bgh`{bpk` ig{r kvneahnpagh giRpnhigr` gzkrnpagh iah`ahm ah knbf kvneahnpagh pfnp pfk B@ bg{d` hgp fnyk okkhdkmapaenpk nh` pfnp ap }n famfdq {hdackdq pfnp pfk rkp{rh Rpnhigr` bdnaek` pgmkhkrnpk bg{d` fnyk okkh nbfakyk` }apf pfk z{rzgrpk` bghkrynpayk ahykpekhp nzzrgnbf(Igrp ]grpf kvneahkr `{pai{ddq bgh`{bpk` kvneahnpagh gi Rpnhigr` ah >11= >116 ?::?nh` ?::0 bghbd{`ahm ah knbf bnk pfnp Rpnhigr` B@ }krk dackdq n Zgh|a bfkek gr naeadnr irn{`{dkhp bfkek( Pfk ghdq amhaiabnhp `aiikrkhbk ah pfk Kvneahnpagh mrg{z

    iah`ahm gykr pfk qknr }n pfnp pfk zgpkhpand irn{` mrk} kvzghkhpanddq irge $?;:eaddagh pg $>(; oaddagh(

    ]fadk pfk Igrp ]grpf Kvneahnpagh mrg{z en`k e{dpazdk kiigrp nipkr knbfkvneahnpagh pg bghyahbk pfk Igrp ]grpf Khigrbkekhp zrgmrne &Khigrbkekhp! pg gzkhnh` bgh`{bp nh ahykpamnpagh gi Rpnhigr` hg eknhahmi{d kiigrp }n en`k oq Khigrbkekhppg ahykpamnpk pfk zgpkhpand irn{` gr pg orahm nh nbpagh pg nppkezp pg pgz ap {hpad dnpk ?::;(Ah >116 Khigrbkekhp gzkhk` n oraki ah~{arq o{p pfkh bdgk` ap nipkr ghdq 2 eghpf }fkhRpnhigr` inadk` pg zrg`{bk `gb{ekhp kya`khbahm pfk irn{` ah rkzghk pg n ygd{hpnrq`gb{ekhp rk~{kp irge pfk RKB( Ah ?::? hg ahykpamnpagh }n gzkhk` kykh nipkr pfkkvneahkr zkbaiabnddq a`khpaiak` e{dpazdk yagdnpagh gi kb{rapak dn} oq Rpnhigr` ah nh

    kvneahnpagh rkzgrp( Ah ?::2 nipkr rkbkayahm pfrkk kznrnpk bgezdnahp dkppkr nog{pRpnhigr` gzkrnpagh Khigrbkekhp `kba`k` hgp pg gzkh nh ahykpamnpagh gr kykh nhah~{arq nh` `a` hgp igddg} {z pg gopnah egrk ahigrenpagh nog{p pfk bgezdnahp(

    Ah dnpk ?::; nipkr n bfnhmk ah dkn`krfaz ah Khigrbkekhp nh` ah rkzghk pg pfkbghpah{ahm zdkn oq pfk Igrp ]grpf Kvneahnpagh mrg{z }fg fn` okkh }npbfahm pfkzgpkhpand irn{` mrg} ah kvneahnpagh nipkr kvneahnpagh Khigrbkekhp iahnddq nmrkk` pgkkc n igrend gr`kr irge pfk Bgeeaagh pg ahykpamnpk Rpnhigr`( Fg}kykr kykh np pfnppaek Khigrbkekhp eak` nh gzzgrp{hapq pg orahm nh nbpagh nmnahp RMB igr ap n`eappk`inad{rk pg bgh`{bp nhq `{k `adamkhbk rkmnr`ahm Rpnhigr` ahykpekhp zgrpigdag }fabfbg{d` fnyk zgpkhpanddq bgezdkpkdq pgzzk` pfk ndk gi pfk Rpnhigr` Ahpkrhnpaghnd Onhc

    &RAO! B@ pfg{mf pfk RMB ahykpekhp n`yakr nh` zrgya`k` ahykpgr nh` zrgzkbpaykahykpgr hgpabk pfnp pfk RKB bgha`krk` RMB ndk gi pfk B@ pg ok irn{`{dkhp( PfkGAM ahykpamnpagh ig{h` pfnp pfa znrpab{dnr nbpagh }n hgp bgha`krk` znrpanddq okbn{kpfk hk} fkn` gi Khigrbkekhp ah Igrp ]grpf }n hgp nzzrak` gi pfk iah`ahm ah pfkahykpekhp n`yakr kvneahnpagh ah >116 nh` ?::? gr kykh pfnp RMB fn` rkmapkrk` nnh ahykpekhp n`yakr n inbp fk dknrhk` igr pfk iarp paek ah pfk bg{rk gi pfa GAMahykpamnpagh ah Lnh{nrq ?:>:(

    >9

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pfk GAM `a` hgp iah` pfnp pfk rkd{bpnhbk gh pfk znrp gi pfk RKB Igrp ]grpfKhigrbkekhp mrg{z pg ahykpamnpk Rpnhigr` }n rkdnpk` pg nhq aezrgzkr zrgikaghndgband gr iahnhband rkdnpaghfaz gh pfk znrp gi nhq igrekr gr b{rrkhp RKB kezdgqkk( ]kig{h` kya`khbk fg}kykr pfnp RKB%}a`k ahpap{paghnd ahid{khbk }apfah Khigrbkekhp `a`

    inbpgr ahpg ap rkzknpk` `kbaagh hgp pg {h`krpnck n i{dd nh` pfgrg{mf ahykpamnpagh giRpnhigr` hgp}apfpnh`ahm pnii n}nrkhk pfnp pfk zgpkhpand irn{` }n mrg}ahm( ]kig{h` pfnp khagr Igrp ]grpf giiaband zkrbkayk` pfnp pfkq }krk okahm l{`mk` gh pfkh{eokr gi bnk pfkq org{mfp g%bnddk` pnp nh` bgee{habnpk` pg pfk Khigrbkekhppnii pfnp hgykd gr bgezdkv bnk }krk `ainygrk`( N n rk{dp bnk dack Rpnhigr` }fabf}krk hgp bgha`krk` ~{abc%fap gr dne%`{hc bnk }krk hgp khbg{rnmk`(

    Pfk GAM ahykpamnpagh ndg ig{h` pfnp pfk igrekr fkn` gi Khigrbkekhp ah Igrp]grpf }fg zdnqk` n amhaiabnhp rgdk ah e{dpazdk `kbaagh gykr pfk qknr pg ~{nfahykpamnpagh gi Rpnhigr` g{mfp pg rkzrkkhp Rpnhigr` gh pfrkk kznrnpk gbbnagh nipkrfk dkip pfk Bgeeaagh nh` ah inbp rkzrkkhpk` Rpnhigr` orakidq ah ?::9 okigrk fk }n

    ahigrek` oq pfk RKB Kpfab Giiabk pfnp ap }n aezrgzkr pg `g g(

    Pfk iarp RKB kvneahnpagh gi Rpnhigr` gbb{rrk` ah >11= p}g qknr nipkr RMBokmnh gzkrnpagh nh` rkmapkrk` }apf pfk RKB }fkh pfk RKB Igrp ]grpf Kvneahnpaghpnii a`khpaiak` RMB n n rac nh` pnrmkp igr kvneahnpagh( Nipkr rkyak}ahm RMB nhh{ndn{`ap ah >11= n igrekr ornhbf bfaki ah pfk Igrp ]grpf Orgckr%@kndkr Kvneahnpagh mrg{zhgpk` pfnp onk` aezdq gh fkr rkyak} gi RMB iahnhband pnpkekhp fk okbnek ykrqbghbkrhk` nog{p pfk kvprngr`ahnrq rkykh{k irge pfk B@ nh` aeek`anpkdq {zkbpk`pfk B@ ndk }krk irn{`{dkhp(

    Ah N{m{p >11= nipkr av `nq gi iakd` }grc ah nh kvneahnpagh gi Rpnhigr` pfk

    kvneahkr bghbd{`k` pfnp RAO pnpkekhp zrgegpahm pfk B@ nzzknrk` pg okearkzrkkhpnpagh( Pfk kvneahkr hgpk` pfnp }fadk pfk B@ zrg`{bp }krk zrgegpk` nokahm nik nh` kb{rk }apf ahykpekhp ah ahykpekhp%mrn`k ogh` kb{rapak nh`K{rg`gddnr nh` igrkamh b{rrkhbq `kzgap pg kh{rk nikpq gi nkp pfk ahpkrkp rnpkbgeoahk` }apf rkikrrnd ikk gi okp}kkh >>+ nh` >2(=;+ nhh{nddq }n aezdq pgg famfpg ok nbfakyk` pfrg{mf pfk z{rzgrpk` dg}%rac ahykpekhp(

    Pfk ornhbf bfaki bghbd{`k` nipkr pfk >11= kvneahnpagh pfnp pfk RAO B@z{rzgrpk` nogyk%enrckp rkp{rh }krk nogd{pkdq d{`abrg{ nh` pfnp pfk famf rkikrrndikk RMB }n zna` igr kddahm pfk B@ ah`abnpk` pfkq }krk hgp dkmapaenpk B@( PfkNapnhp @aprabp N`eahaprnpgr igr pfk Igrp ]grpf Kvneahnpagh zrgmrne bghb{rrk`

    hgpahm pfnp pfkrk }krk rk` idnm nog{p Rpnhigr` gzkrnpagh pfnp bn{k` fkr pg okdakyk ap}n n Zgh|a bfkek zkbaiabnddq pfk inbp pfnp pfk ahpkrkp pfnp pfkq }krk z{rzgrpk`dqznqahm gh pfkk B@ }n amhaiabnhpdq famfkr pfnh }fnp qg{ bg{d` mkp gh n B@ ah pfk[hapk` Rpnpk( Rfk i{rpfkr bghbd{`k` pfnp ap }n famfdq {hdackdq pfnp pfk rkp{rhRpnhigr` bdnaek` pg mkhkrnpk bg{d` ok nbfakyk` }apf pfk z{rzgrpk` bghkrynpaykahykpekhp nzzrgnbf(

    >=

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pfk kvneahkr ndg }krk bghbkrhk` nog{p pfk rkb{rrahm nhh{nd prnadkr grrkikrrnd ikk pfnp RMB rkbkayk` irge RAO igr rkikrrahm B@ ahykpgr pg RAO }fabf pfkqyak}k` pg ok g``dq famf nh` {zabag{( Pfa {zabagh }n fkamfpkhk` okbn{k pfkkvneahkr ig{h` pfnp RMB `a` hgp enahpnah oggc nh` rkbgr` igr pfk B@ ndk nh`

    z{rzgrpk` pg fnyk hg nbp{nd ahigrenpagh nog{p RAO gr pfk onk igr pfk mkhkrg{ rkp{rhpfnp pfk B@ mkhkrnpk` hgp}apfpnh`ahm pfk inbp pfnp pfkq }krk rkbgeekh`ahm pfk B@ pgpfkar bdakhp nh` rkbkayahm pfkk nhh{nd rkb{rrahm ikk igr pfkar rkikrrnd(

    I{rpfkr pfk kvneahkr en`k pfk {rzraahm `abgykrak gi n $>1 eaddagh bnfbghprao{pagh pfnp _gokrp Nddkh Rpnhigr` en`k zkrghnddq pg RMB ah >119 nh` giamhaiabnhp dgnh irge RAO pg Rpnhigr` zkrghnddq `abgykrak }fabf pfk ornhbf bfakipkpaiak` }krk rk` idnm pfnp en`k fkr n{ek pfnp Rpnhigr` }n zgaodq pkndahm irgeahykpgr( Ah pfk RKB ahpkrhnd prnbcahm qpke ah }fabf ap rkbgr`k` `npn nog{p apkvneahnpagh pfk Orgckr%@kndkr Kvneahnpagh mrg{z bfnrnbpkra|k` ap bghbd{agh irgepfk >11= kvneahnpagh gi RMB n Zgaodk earkzrkkhpnpagh( Zgaodk Zgh|a bfkek(

    Pfk GAM ahykpamnpagh ig{h` pfnp ah >11= pfk kvneahnpagh pnii `kpkreahk` pfnpn n rk{dp gi pfkar iah`ahm nh ahykpamnpagh gi Rpnhigr` oq pfk Khigrbkekhp mrg{z }n}nrrnhpk` nh` rkikrrk` n bgzq gi pfkar kvneahnpagh rkzgrp pg Khigrbkekhp igr rkyak} nh``azgapagh( Ah inbp }fkh pfk igrekr Napnhp @aprabp N`eahaprnpgr igr pfk Igrp ]grpfKvneahnpagh zrgmrne rkpark` ah >11= fkr znrpahm }gr` pg pfk ornhbf bfaki}krk ckkzqg{r kqk gh pfkk zkgzdk Srkikrrahm pg Rpnhigr`U okbn{k pfa dggc dack n Zgh|a bfkek pgek nh` gek `nq ap mgahm pg odg} {z(

    @kzapk pfk kvneahkr rkikrrnd gi pfkar krag{ bghbkrh pfnp RMB }n znrp gi nZgh|a bfkek pfk Khigrbkekhp pnii `a` hgp gzkh n enppkr {h`kr ah~{arq &E[A! ahpg

    pfk Rpnhigr` bnk {hpad kamfp eghpf dnpkr ah Enq >116 nh` `a` g ghdq nipkr dknrhahmpfnp nhgpfkr ik`krnd nmkhbq {zkbpk` Rpnhigr` gi eghkq dn{h`krahm( Pfk GAMahykpamnpagh i{rpfkr ig{h` pfk ghdq kya`khbk gi nhq ahykpamnpayk nbpagh pnckh oqKhigrbkekhp ah bghhkbpagh }apf pfa E[A }n n ygd{hpnrq rk~{kp igr `gb{ekhp pfnp pfkRKB khp RMB ah Enq >116( ]k ig{h` pfnp nipkr Rpnhigr` rki{k` pg ygd{hpnradq zrg`{bkh{ekrg{ `gb{ekhp rkdnpahm pg RMB rkikrrnd gi ahykpgr pg RAO hg i{rpfkrahykpamnpayk pkz }krk pnckh3 nipkr okahm gzkhk` igr ghdq pfrkk eghpf ah N{m{p >116pfk E[A }n bdgk`(

    _kngh zrgya`k` oq Khigrbkekhp n pg }fq pfk ah~{arq }n bdgk` rkdnpk` pg pfkdnbc gi [(R( ahykpgr niikbpk` oq pfk zgpkhpand irn{` nh` pfk `aiiab{dpq gi pfk

    ahykpamnpagh okbn{k ap }g{d` fnyk pg gopnah rkbgr` irge Nhpam{n( Fg}kykr }k ig{h`gpfkr dnrmkr RKB%}a`k rkngh }fq pfk Rpnhigr` enppkr }n hgp z{r{k` ahbd{`ahm pfkzrkikrkhbk igr ~{abc fap bnk n n rk{dp gi ahpkrhnd RKB zrk{rk nh` pfk zkrbkzpaghpfnp Rpnhigr` }n hgp n ~{abc fap bnk(

    Pfk GAM ahykpamnpagh ndg ig{h` pfnp ah L{hk >116 }fadk pfk Rpnhigr` E[A }ngzkh pfk Ahykpekhp N`yakr Kvneahnpagh mrg{z ah Igrp ]grpf okmnh nhgpfkrkvneahnpagh gi RMB( Pfa ahykpekhp n`yakr kvneahnpagh bnek pg pfk nek bghbd{agh

    >6

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    n pfk orgckr%`kndkr kvneahnpagh iah`ahm Rpnhigr` kvprkekdq famf ahpkrkp rnpk nh`kvprkekdq mkhkrg{ bgezkhnpagh ah pfk igre gi nhh{nd rkb{rrahm rkikrrnd ikk nh` pfkinbp pfnp RMB }n g kvprkekdq `kzkh`khp {zgh pfnp bgezkhnpagh pg bgh`{bp ap `nq%pg%`nq gzkrnpagh ykrq {zabag{(

    Pfk ahykpekhp n`yakr kvneahkr ndg hgpk` `{rahm pfk >116 kvneahnpagh pfkbgezdkpk dnbc gi ahigrenpagh RMB fn` rkmnr`ahm pfk B@ nh` pfk RAO ahykpekhpzgrpigdag pfnp z{rzgrpk`dq {zzgrpk` pfk B@ {h{{nddq famf nh` bghapkhp rkp{rh( Pfkkvneahkr bghbd{`k` pfnp RMB fn` yarp{nddq hgpfahm pfnp }g{d` ok n rknghnodk onaigr rkbgeekh`ahm pfk B@ pg ap b{pgekr( Ah inbp pfk kvneahkr ig{h` pfnp hg ghk npRMB kykh enahpnahk` n rkbgr` gi ndd n`yagrq bdakhp }fg ahykpk` ah pfk B@(Nbbgr`ahmdq pfk kvneahkr a`khpaiak` zgaodk yagdnpagh gi RMB ia`{banrq `{pq n nhahykpekhp n`yakr pg ap bdakhp hgpahm pfk niiarenpayk godamnpagh gh pfk znrp gi nhahykpekhp n`yakr pg kezdgq rknghnodk bnrk pg nyga` eadkn`ahm bdakhp nh` pfnp nhq`kznrp{rk irge pfa ia`{banrq pnh`nr` }g{d` bghpap{pk irn{` {h`kr Rkbpagh ?:9 gi pfk

    Ahykpekhp N`yakr Nbp gi >10: &Ahykpekhp N`yakr Nbp!(

    Pfk GAM ahykpamnpagh ig{h` fg}kykr pfnp pfk Khigrbkekhp pnii bgezdkpkdq`arkmnr`k` pfk ahykpekhp n`yakr kvneahkr bghbkrh ah `kba`ahm pg bdgk pfk Rpnhigr`E[A nh` pfkrk }n hg kya`khbk pfnp pfk Khigrbkekhp pnii kykh rkn` pfk ahykpekhpn`yakr >116 kvneahnpagh rkzgrp( Hgp}apfpnh`ahm pfa dnbc gi Khigrbkekhp nbpagh oqpfk {eekr gi >116 ap }n bdknr pfnp ogpf pfk ahykpekhp n`yakr nh` orgckr%`kndkrkvneahkr chk} pfnp SRpnhigr`U }n n irn{`(

    Ah Hgykeokr ?::? pfk RKB ahykpekhp n`yakr Kvneahnpagh mrg{z bgh`{bpk`qkp nhgpfkr kvneahnpagh gi RMB( Ah pfk ?::? kvneahnpagh pfk ahykpekhp n`yakr

    kvneahkr ig{h` pfnp Rpnhigr` gzkrnpagh fn` mrg}h amhaiabnhpdq ah pfk ig{r qknrahbk pfk >116 Kvneahnpagh irge $?;: eaddagh ah ahykpekhp ah pfk z{rzgrpk`irn{`{dkhp B@ ah >116 pg $>(> oaddagh ah ?::?( Ah ?::? pfkk kvneahkr a`khpaiak` pfknek rk` idnm pfnp fn` okkh hgpk` ah pfk zrkyag{ p}g kvneahnpagh< pfk bghapkhpnogyk%enrckp rkzgrpk` rkp{rh }fabf }krk ykrq {hdackdq pg ok nodk pg ok nbfakyk`}apf dkmapaenpk ahykpekhp nh` pfk famf bgeeaagh zna` pg RMB iahnhband n`yakrigr kddahm pfk RAO B@ }apfg{p nh {h`krpnh`ahm gh pfk znrp gi RMB n pg }fnp pfkq}krk rkikrrahm(

    Pfk ahykpekhp n`yakr kvneahkr ndg ig{h` pfnp pfk dap gi ahykpgr zrgya`k` oqRMB }n ahnbb{rnpk n pfk dap pfkq rkbkayk` irge RMB gi pfk B@ fgd`kr `a` hgp enpbf

    {z }apf pfk pgpnd B@ g{ppnh`ahm onk` {zgh pfk rkikrrnd ikk RMB rkbkayk` ah ?::>(Pfk kvneahkr hgpk` pfnp ndpfg{mf pfkq `a` igddg} {z }apf RMB nog{p pfa `abrkznhbqpfkq hkykr gopnahk` n npainbpgrq rkzghk nh` n i{dd dap gi ahykpgr(

    Pfk ?::? Kvneahnpagh bghbd{`k` pfnp RMB }n yagdnpahm Rkbpagh ?:9 gi pfkAhykpekhp N`yakr Nbp oq inadahm pg bgh`{bp nhq `{k `adamkhbk rkdnpk` pg pfk RAO B@(Pfk ?::? Kvneahnpagh rkzgrp pnpk`1

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    N rkyak} gi RMB `{k `adamkhbk iadk igr pfk RAO SB@Urkykndk` pfnp RMB fn` dappdk egrk pfnh pfk egp rkbkhp RAOiahnhband pnpkekhp &qknr kh` ?::>! nh` pfk zraynpkgiikrahm ekegrnh`n nh` {obrazpagh `gb{ekhp( Pfkrk

    }n hg ah`abnpagh pfnp nhqghk np RMB chk} fg} ap bdakhpeghkq }n okahm {k` oq RAO gr fg} RAO }n mkhkrnpahm{iiabakhp ahbgek pg {zzgrp pfk nogyk%enrckp ahpkrkp rnpkzna` nh` pfk {opnhpand nhh{nd pfrkk zkrbkhp prnadkrbgeeaagh zna` pg RMB(

    ]fkh pfk ahykpekhp n`yakr kvneahkr rnak` pfa a{k }apf RMB RMBenrck`dq bfnhmk` ap rkzrkkhpnpagh pg pfk RKB bghbkrhahm ap `{k `adamkhbk rkmnr`ahmRAO B@( Zrkyag{dq RMB rkzrkkhpk` pfnp pfkq kkhpanddq zdnqk` hg rgdk ah pfkahykpekhp `kbaagh oq RAO o{p }fkh bfnddkhmk` RMB bfnhmk` ap pgrq nh` pnpk` pfnppfkq rkm{dnrdq yaapk` pfk giifgrk onhc znrpabaznpk` ah ~{nrpkrdq bndd }apf pfk Bfaki

    Iahnhband Giiabkr gi pfk onhc nh` rkbkayk` ~{nrpkrdq ahigrenpagh rkmnr`ahm pfk onhczgrpigdag nddgbnpagh &oq kbpgr nh` zkrbkhpnmk gi ogh`'k~{apq! ahykpekhp prnpkmaknh` pgz iayk k~{apq nh` ogh` fgd`ahm( RMB ndg pgd` pfk kvneahkr pfnp ahigrenpaghrkmnr`ahm pfk zgrpigdag nddgbnpagh }n ahbd{`k` ah RMB `{k `adamkhbk iadk( Ndpfg{mfpfk ahykpekhp n`yakr kvneahkr }krk {rzrak` nh` {zabag{ nog{p pfa `abrkznhbqnh` nbp{nddq bghpkezdnpk` `rgzSzahmU oq {hnhhg{hbk` Snp RMBU nh` ncSahmU pg dggc npSpfk z{rzgrpk` `gb{ekhpU pfk GAM ahykpamnpagh ig{h` pfnp pfk RKB `a` hgp igddg} {zpg gopnah gr rkyak} pfk hk}dq%bdnaek` `{k `adamkhbk ahigrenpagh(

    Nipkr pfk kvneahkr okmnh pfa pfar` kvneahnpagh gi Rpnhigr` pfk RKB rkbkayk`e{dpazdk bgezdnahp irge g{pa`k khpapak rkahigrbahm nh` ogdpkrahm pfkar {zabagh

    nog{p Rpnhigr` gzkrnpagh( Fg}kykr pfk RKB inadk` pg igddg} {z gh pfkk bgezdnahpgr pnck nhq nbpagh pg ahykpamnpk pfke( Gh @kbkeokr ; ?::? pfk RKB rkbkayk` nbgezdnahp dkppkr irge n bapa|kh gi Ekvabg }fg rnak` bghbkrh aeadnr pg pfgk pfkkvneahnpagh pnii fn` rnak`( Pfk Gbpgokr ?6 ?::? bgezdnahp irge

    pg pfk RKB Bgezdnahp Bkhpkr rnak` kykrnd a{k ahbd{`ahm pfkbgha`krnodq famfkr ahpkrkp rnpk gi pfk Rpnhigr` B@ }fkh bgeznrk` }apf pfnp }fabfgpfkr onhc }krk giikrahm pfk inbp pfnp Rpnhigr` rkp{rh }krk pkn`q }fadk gpfkr aeadnrahykpekhp }krk amhaiabnhpdq `g}h nh` hgpahm pfnp RAO n{`apgr }n ah Nhpam{n}apfg{p amhaiabnhp rkm{dnpgrq gykramfp(

    ]fadk pfk kvneahkr bfnrnbpkra|k` bghbkrh n dkmapaenpk pfk

    GAM ahykpamnpagh ig{h` pfnp pfk RKB `a` hgp rkzgh` pg pfk bgezdnahp nh` `a`hgp pnck nhq nbpagh pg ahykpamnpk fkr bdnae( ]k ig{h` pfnp }fadk nh RKB kvneahkr`rnipk` n dkppkr pg ncahm igr n``apaghnd ahigrenpagh fk }n pgd` pfnpKhigrbkekhp fn` `kba`k` pg rkikr fkr dkppkr pg pfk Pkvn Rpnpk Rkb{rapak Ognr` &PRRO!nh` pf{ hkykr nbp{nddq khp fa `rnip dkppkr pg ( Fg}kykr pfk GAM ahykpamnpaghig{h` pfnp ndpfg{mf pfkrk }n nh ahpkhpagh pg igr}nr` pfk dkppkr pg pfk PRROpfkrk a hg kya`khbk pfnp ap }n khp pg pfk PRRO kapfkr(

    ?:

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Ah n``apagh pfk GAM ahykpamnpagh ig{h` pfnp ndpfg{mf pfk kvneahkr ekp }apfKhigrbkekhp giiaband ah dnpk ?::? pg nppkezp pg bghyahbk Khigrbkekhp pg gzkh nhahykpamnpagh gr kykh nh ah~{arq ahpg pfk ?::? Kvneahnpagh _kzgrp iah`ahmKhigrbkekhp pnii `kbdahk` pg gzkh n enppkr nh` dackdq hkykr kykh rkn` pfk ?::?

    Kvneahnpagh _kzgrp( Egrkgykr kykh pfg{mf pfk kvneahkr }krk ahigrek` oqKhigrbkekhp pfnp pfk iah`ahm ah pfk ?::? Kvneahnpagh _kzgrp }krk rkikrrk` pg pfk PRROpgmkpfkr }apf pfk dkppkr nipkr ahpkryak}ahm giiaband irge pfk Khigrbkekhp pniinh` pfk PRRO }k ig{h` pfnp hg {bf rkikrrnd }n en`k(

    Pf{ oq ?::2 ap fn` okkh nzzrgvaenpkdq av qknr ahbk pfk RKB Kvneahnpaghpnii fn` bghbd{`k` pfnp pfk RAO B@ }krk dackdq n Zgh|a bfkek( @{rahm pfgk avqknr pfk RKB fn` bgh`{bpk` pfrkk kvneahnpagh }fabf bghbd{`k` pfk Rpnhigr` irn{`}n ghmgahm nh` mrg}ahm amhaiabnhpdq o{p hg eknhahmi{d kiigrp }n en`k pg gopnahkya`khbk rkdnpk` pg pfk Zgh|a bfkek(

    Ah ?::2 pfk RKB Khigrbkekhp pnii rkbkayk` p}g hk} bgezdnahp pfnp Rpnhigr`}n n Zgh|a bfkek o{p pfk GAM ahykpamnpagh ig{h` pfnp hgpfahm }n `ghk pg z{r{kkapfkr gi pfke( Gh N{m{p 0 ?::2 pfk PRRO igr}nr`k` pg pfk RKB n dkppkr irge

    ah nhgpfkr Zgh|a bfkek nbpagh khpapdk` }fabf`ab{k` kykrnd aeadnrapak okp}kkh pfk Zgh|a bfkek nh` }fnp }nchg}h np pfk paek nog{p Rpnhigr` gzkrnpagh( Okigrk kh`ahm pfk dkppkr pg pfk RKB pfkPRRO @arkbpgr gi Khigrbkekhp bnddk` pfk RKB pg `ab{ pfk enppkr nh` ahigrek` pfkRKB pfnp okbn{k }n {bf n dnrmk irn{` fk pfg{mfp fk hkk`k` pg orahm

    bghbkrh rkmnr`ahm Rpnhigr` Mrg{z pg pfk RKB nppkhpagh( ]fadk pfk bgezdnahp }n igr}nr`k` pg n ornhbf bfaki ah Khigrbkekhp hg nbpagh }n

    pnckh pg igddg} {z(

    Gh Gbpgokr >: ?::2 pfk HNR@ igr}nr`k` n dkppkr `npk` Rkzpkeokr > ?::2irge nh nhghqeg{ Rpnhigr` aha`kr pg pfk RKB Giiabk gi Ahykpgr K`{bnpagh nh`Napnhbk &GAKN! }fabf pnpk` ah zkrpahkhp znrp

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    ah~{arq o{p pg rkikr ap pg pfk Kvneahnpagh mrg{z igr qkp nhgpfkr kvneahnpagh( PfkKhigrbkekhp ornhbf bfaki kvzdnahk` fa rnpaghndk n igddg}(; oaddagh gi B@ }apfnzzrgvaenpkdq $??= eaddagh gi pfkk B@ okahm fkd` oq [(R( ahykpgr( Pfk ?::0kvneahnpagh bghbd{`k` pfnp pfk RAO B@ }krk kb{rapak nh` znrp gi n ykrq dnrmk Zgh|abfkek(

    Pfk kvneahkr nhndq|k` pfk RAO B@ rkp{rh {ahm `npn nog{p pfk znpzkrigrenhbk gi pfk k~{apq enrckp nh` ig{h` pfnp pfkq }krk aezrgonodk( Pfkkvneahnpagh pnii bghbd{`k` pfnp RMB ndk gi pfk RAO B@ yagdnpk` h{ekrg{ ik`krndkb{rapak dn} nh` r{dk ahbd{`ahm HNR@ {apnoadapq r{dk enpkrand eapnpkekhp nh`inad{rk pg `abdgk enpkrand inbp ah yagdnpagh gi _{dk >:o%; gi pfk Rkb{rapak KvbfnhmkNbp gi >120 &Kvbfnhmk Nbp!3 inad{rk pg `abdgk pg b{pgekr ap bgezkhnpagh igrkb{rapak prnhnbpagh ah yagdnpagh gi _{dk >:o%>: gi pfk Kvbfnhmk Nbp3 nh` zgaodk{hrkmapkrk` `aprao{pagh gi kb{rapak ah yagdnpagh gi Rkbpagh ; gi pfk Rkb{rapak Nbp gi>122(

    Pfk ?::0 Kvneahnpagh _kzgrp n`ygbnpk` pfnp pfk RKB nbp nmnahp RMB igr pfkk

    yagdnpagh ah znrp okbn{k gi pfk `aiiab{dpak ah zrgyahm pfnp RAO }n gzkrnpahm n Zgh|abfkek( Ghk kvneahkr pnpk` pfnp nipkr pfk ?::0 Kvneahnpagh fk okdakyk` ap }nahb{eokhp gh pfk RKB pg `g }fnpkykr ap bg{d` pg pgz pfk mrg}ahm irn{` hgpahm nigddg} ndpfg{mf ap enq ok `aiiab{dp pg zrgyk pfnp pfk giikrahm apkdi a irn{`{dkhp RMBfn hghkpfkdk bgeeappk` h{ekrg{ kb{rapak dn} yagdnpagh }fabf bnh ok zrgyk`}apfg{p `kpkreahahm pfk nbp{nd {k gi pfk ahykpk` i{h`(

    ??

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pfk Kvneahnpagh pnii ndg bgh`{bpk` amhaiabnhp ahykpamnpayk }grc `{rahm pfkkykh eghpf irge Gbpgokr ?::0 pfrg{mf Nzrad ?::; pg ogdpkr ap nhpabaznpk`Khigrbkekhp rkikrrnd( Pfkq rknbfk` g{p pg pfk RKB Giiabk gi Kbghgeab Nhndqa&GKN! igr napnhbk ah pncahm pfk Kvneahnpagh pnii ~{nhpapnpayk nhndqa gi

    Rpnhigr` fapgrabnd rkp{rh n pkz i{rpfkr( Fg}kykr GKN `a` hgp nap pfk kvneahkr}apf nhq nhndqa gi Rpnhigr rkp{rh( Pfk kvneahkr ndg bghpnbpk` nh nppgrhkq ah pfkRKB Giiabk gi Ahpkrhnpaghnd Niinar &GAN! igr ahigrenpagh rkmnr`ahm Nhpam{nrkm{dnpagh gi Rpnhigr`( Ah n``apagh pfkq ahpkryak}k` n igrekr rkmapkrk` rkzrkkhpnpayk giRMB }fg pgd` pfke pfnp pfk ndk gi RAO B@ }n n Zgh|a bfkek(

    Fg}kykr ah Enrbf ?::; khagr Khigrbkekhp giiaband ah Igrp ]grpf dknrhk` gipfk Kvneahnpagh pnii }grc gh Rpnhigr` nh` pgd` pfke pfnp ap }n hgp n enppkr pfnpKhigrbkekhp }g{d` z{r{k( N Rzkband Rkhagr Bg{hkd ah pfk Orgckr%@kndkr Kvneahnpaghmrg{z en`k n zrkkhpnpagh nog{p fkr ghmgahm }grc gh Rpnhigr` np n Enrbf ?::; ~{nrpkrdq{eeap ekkpahm nppkh`k` oq pfk RKB HNR@ nh` pnpk rkm{dnpgr irge Pkvn nh`

    Gcdnfgen( Aeek`anpkdq nipkr fkr zrkkhpnpagh fk rkbnddk` pfnp fk mgp n dgp giz{fonbc irge ogpf pfk fkn` gi pfk Igrp ]grpf giiabk nh` fkn` gi Khigrbkekhp }fgnzzrgnbfk` fkr nh` {eenradq pgd` SfkrU ( ( ( SRpnhigr`U }n hgp gekpfahm pfkq }krkahpkrkpk` ah(

    N pfk kvneahkr }krk zrkznrahm n igrend rkikrrnd ekegrnh`{e pg pfkKhigrbkekhp pnii ah nh nppkezp pg iahnddq bghyahbk pfke pg gzkh nh ahykpamnpagh ap }nnhhg{hbk` pfnp pfk fkn` gi Igrp ]grpf Khigrbkekhp }n dknyahm pfk RKB( Rahbk fk fn`en`k ap ykrq bdknr fk }nhp mgahm pg nbbkzp Spfk Rpnhigr` rkikrrndU np pfk Enrbf?::; ekkpahm pfk kvneahkr }napk` {hpad fk dkip pfk RKB pg igr}nr` pfk rkikrrnd pgKhigrbkekhp(

    Pfk ?::; Khigrbkekhp _kikrrnd bfnrnbpkra|k` pfk RAO B@ rkp{rh n pgg mgg` pgok pr{k hgpahm pfnp irge ?::: pfrg{mf ?::? RAO rkzgrpk` knrhahm gh ahykpekhp giokp}kkh nzzrgvaenpkdq >?(0+ nh` >2(2+ ( ( (S}fadkU SpUfk ah`abk }k rkyak}k` }krk`g}h oq nh nykrnmk gi >>(:;+ ah ?::: >;(??+ ah ?::> nh` ?;(6=+ ah ?::?(

    Pfk Khigrbkekhp pnii ahapanddq rknbpk` khpf{anpabnddq pg pfk rkikrrnd nh` gzkhk`n E[A( Pfkq ndg bghpnbpk` GAN pg nap pfke ah mkppahm rkbgr` irge RAO ah Nhpam{n(I{rpfkr pfk Khigrbkekhp pnii khp ~{kpaghhnark pg [(R( nh` igrkamh ahykpgr ah nhnppkezp pg a`khpaiq bdknr earkzrkkhpnpagh oq Rpnhigr` pg ahykpgr( Fg}kykr oq L{hk?::; pfk Khigrbkekhp pnii fn` `kba`k` pg rkikr pfk enppkr pg pfk HNR@ nzznrkhpdq n n

    zrkb{rgr pg bdgahm pfk ah~{arq( Pfkq fn` bgha`krk` kykrnd gzpagh pg gopnah i{rpfkrkya`khbk ahbd{`ahm n rk~{kp {h`kr pfk E{p{nd Dkmnd Napnhbk ah Braeahnd EnppkrPrknpak }fabf }krk `kamhk` igr pfk kvbfnhmk gi ahigrenpagh ah braeahnd enppkr nh`n`eahapkrk` oq pfk [(R( @kznrpekhp gi L{pabk( Fg}kykr nipkr pfk ~{kpaghhnarkrkykndk` hg ynd{nodk ahigrenpagh pfk ghdq pnhmaodk nbpagh pnckh }n pfk kh`ahm gi nygd{hpnrq rk~{kp igr `gb{ekhp pg Rpnhigr`(

    ?2

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Gh N{m{p ?1 ?::; pfk Khigrbkekhp pnii khp RAO ap ygd{hpnrq rk~{kp igr`gb{ekhp( Fg}kykr rk~{kpahm ygd{hpnrq gb{ekhp zrg`{bpagh irge Rpnhigr` }n nbgezdkpkdq i{padk kvkrbak( Egrkgykr pfk Khigrbkekhp pnii khp RAO pfk pnh`nr`rk~{kp av `nq nipkrRAO nppgrhkq en`k ap bdknr pfnp RAO }g{d` hgp ok zrg`{bahm

    `gb{ekhp gh n ygd{hpnrq ona( Pfk ghdq rkngh igr pfk pnii `gb{ekhp rk~{kp pgRpnhigr` }n nzznrkhp ah n L{dq ?::; k%enad irge pfk ornhbf bfaki pnpahm n igddg}1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Yabpae Bgndapagh {rykq ah`abnpk` pfnp nzzrgvaenpkdq 1;+ gi ?>> rkzgh`ahm Rpnhigr`ahykpgr pnpk` pfnp chg}dk`mk gi nh RKB ah~{arq }g{d` fnyk niikbpk` pfkar `kbaagh pgahykp( Ghk Rpnhigr` yabpae }fg ahykpk` pfk eghkq pfnp fk nyk` pfrg{mf kykrndqknr gi o{ahk hamfp }grcahm dnpk nh` cazzahm ynbnpagh SfkU bg{d` fnyk pnckh }apf

    SfkrU ineadq na` pfnp fn` fk chg}h pfnp Rpnhigr` Mrg{z }n kykr {h`kr ahykpamnpaghoq pfk RKB SfkU }g{d` hgp fnyk og{mfp np ndd( Ah`kk` pfk ~{kpaghhnark pfnp }n khpg{p oq Khigrbkekhp ah L{hk ?::; rnak` amhaiabnhp bghbkrh neghm Rpnhigr` ahykpgr(N igrekr yabk zrka`khp nh` iahnhband n`yakr np Rpnhigr` irge ?::0 pfrg{mf ?::= }fgdnpkr bghpnbpk` pfk RKB }apf bghbkrh nog{p Rpnhigr` na` pfnp fa zfghk dap {z dack nBfrapen prkk pfk egrhahm Spfk RKB ~{kpaghhnarkU }khp g{p( Fg}kykr nipkr ahykpgrrkbkayk` pfk ~{kpaghhnark nog{p Rpnhigr` enhq bghpah{k` pg ahykp okbn{k iahnhbandn`yakr pgd` pfke pfnp pfk i{h` fn` okkh maykh n bdknh oadd gi fkndpf oq pfk RKB(Rpnhigr` giiaband }krk nodk pg zkr{naykdq rkzrkkhp pfnp Rpnhigr` fn` okkh maykh pfabdknh oadd gi fkndpf okbn{k ah inbp Rpnhigr` fn` okkh kvneahk` gh e{dpazdk gbbnaghnh` ghdq okkh a{k` rg{pahk `kiabakhbq dkppkr }fabf pfkq z{rzgrpk`dq rkek`ak`(

    Fg}kykr fn` n Rkbpagh ?:9 nbpagh okkh bgeekhbk` ah ?::; ap bg{d` fnyk z{p enhq giRpnhigr` yabpae gh hgpabk pfnp pfkrk }krk rkm{dnpgrq bghbkrh nog{p pfkar ahykpekhp(

    Pfk gpfkr amhaiabnhp okhkiap gi orahmahm nh nbpagh {h`kr Rkbpagh ?:9 gi pfkAhykpekhp N`yakr Nbp &}fabf pfk RKB kykhp{nddq `a` }fkh ap iadk` ap bgezdnahp ah?::1! }n pfnp ap `a` hgp rk~{ark pfnp pfk irn{` ahygdyk n kb{rapq(

    Pfk GAM ahykpamnpagh ig{h` pfnp pfk `kbaagh hgp pg kykh bgha`kr n Rkbpagh ?:9

    nbpagh }n onk` np dknp znrpanddq gh pfk inbp pfnp pfk hk} fkn` gi Khigrbkekhp }n{hn}nrk pfnp pfk ahykpekhp n`yakr Kvneahnpagh pnii fn` `ghk kvneahnpagh gi RMB ah>116 nh` ?::? nh` }n {hn}nrk pfnp RMB }n n rkmapkrk` ahykpekhp n`yakr }fkh pfkpnii orakik` fkr gh pfk enppkr ah Hgykeokr ?::;( Ah inbp fk ghdq dknrhk` pfnp RMB fn`okkh n rkmapkrk` ahykpekhp n`yakr `{rahm fkr GAM pkpaeghq ah pfk bg{rk gi pfaahykpamnpagh ah Lnh{nrq ?:>:( Okbn{k pfk Khigrbkekhp pnii }n hgp ineadanr }apf pfkiah`ahm gi pfk >116 nh` ?::? ahykpekhp n`yakr kvneahnpagh pfkq }krk hgp n}nrk pfnppfa gzpagh fn` okkh `gb{ekhpk` oq pfk kvneahkr gh egrk pfnh ghk gbbnagh(

    Pfk GAM ahykpamnpagh ndg ig{h` kya`khbk gi dnrmkr RKB%}a`k rkngh pfnp pfkRpnhigr` enppkr }n hgp z{r{k` gykr pfk qknr( ]k ig{h` pfnp pfk Igrp ]grpf

    Khigrbkekhp zrgmrne `kbaagh hgp pg {h`krpnck n i{dd nh` pfgrg{mf ahykpamnpagh giRpnhigr` }krk `{k np dknp ah znrp pg Khigrbkekhp zkrbkzpagh pfnp pfk Rpnhigr` bnk}n `aiiab{dp hgykd nh` hgp pfk pqzk inygrk` oq pfk Bgeeaagh( Pfk igrekr fkn` gi pfkIgrp ]grpf giiabk pgd` pfk GAM pfnp rkmaghnd giiabk }krk fknyadq l{`mk` oq pfk h{eokrgi bnk pfkq org{mfp nh` pfnp ap }n ykrq aezgrpnhp igr pfk Igrp ]grpf giiabk pg orahm nfamf h{eokr gi bnk( Pfa nek zkrgh zkbaiabnddq hgpk` pfnp fk zkrghnddq fn` okkhykrq g{pzgckh }fadk np pfk RKB o{p ikdp fk }n o{ddkp zrggi okbn{k gi pfk famfh{eokr gi bnk pfnp Igrp ]grpf org{mfp nh` n n rk{dp pfk Bgeeaagh bg{d` hgp mkp

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    ra` gi fae( Pfk igrekr fkn` gi Khigrbkekhp ah Igrp ]grpf ndg bghb{rrk` pfnp pfk

    h{eokr gi bnk Sorg{mfpU }krk kvprkekdq aezgrpnhp( N Igrp ]grpf Napnhp @arkbpgr

    }fg }grck` gh pfk Rpnhigr` enppkr pnpk`1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pfk GAM ahykpamnpagh ndg ig{h` pfnp pfk RKB o{rkn{brnbq enq fnyk`abg{rnmk` pfk pnii irge z{r{ahm hgykd dkmnd bnk( Pfk igrekr fkn` gi pfk Igrp ]grpfgiiabk bghiarek` pfnp pfk nr`{g{ zrgbk gi mkppahm pfk RKB pnii nzzrgynd ah]nfahmpgh @B pg rkbgeekh` nh Khigrbkekhp nbpagh pg pfk Bgeeaagh }n n inbpgr ah

    `kba`ahm }fabf ahykpamnpagh pg z{r{k( N igrekr ornhbf bfaki ah pfk kvneahnpaghzrgmrne pnpk` pfnp fk okdakyk` pfnp pfk `kark gi pfk Khigrbkekhp pnii pg nyga` `aiiab{dpbnk }n znrpdq `{k pg pfk bfnddkhmk ah `kndahm }apf pfk Bgeeaagh o{rkn{brnbq(

    Iahnddq pfk GAM ahykpamnpagh rkykndk` pfnp pfk igrekr fkn` gi Khigrbkekhp ahIgrp ]grpf }fg zdnqk` n amhaiabnhp rgdk ah h{ekrg{ `kbaagh oq pfk Igrp ]grpf giiabkpg `khq ahykpamnpagh gi Rpnhigr` g{mfp pg rkzrkkhp Rpnhigr` gh pfrkk kznrnpkgbbnagh nipkr fk dkip pfk RKB nh` rkzrkkhpk` Rpnhigr` orakidq ah ?::9 okigrk fk }nahigrek` oq pfk RKB Kpfab Giiabk pfnp ap }n aezrgzkr pg `g g(

    Pfa igrekr fkn` gi Khigrbkekhp ah Igrp ]grpf }n rkzghaodk igr< &>! ah >116

    `kba`ahm pg bdgk n E[A gzkhk` rkmnr`ahm Rpnhigr` nipkr pfk >11= orgckr%`kndkrkvneahnpagh3 &?! ah ?::? `kba`ahm pg igr}nr` pfk bgezdnahp dkppkr pg pfk PRROnh` `kba`ahm hgp rkzgh` pg pfk bgezdnahp gr ahykpamnpk pfk a{k ap rnak`3&2! ah ?::? `kba`ahm hgp pg nbp gh pfk Kvneahnpagh pnii rkikrrnd gi Rpnhigr` igrahykpamnpagh nipkr ap ahykpekhp n`yakr kvneahnpagh3 &0! ah ?::2 znrpabaznpagh ah n`kbaagh hgp pg ahykpamnpk Rpnhigr` nipkr rkbkayahm bgezdnahp dkppkrbgeznrahm Rpnhigr` gzkrnpagh pg pfk irn{`3 &;! ah ?::2 znrpabaznpahm ah n`kbaagh hgp pg ahykpamnpk Rpnhigr` nipkr rkbkayahm pfk bgezdnahp dkppkr irge nhnhghqeg{ aha`kr nddkmahm pfnp Rpnhigr` }n khmnmk` ah n enayk Zgh|a bfkek3 nh`&9! ah ?::; ahigreahm khagr Kvneahnpagh pnii nipkr n zrkkhpnpagh }n en`k ghRpnhigr` np n ~{nrpkrdq {eeap ekkpahm pfnp Rpnhigr` }n hgp n enppkr pfkq zdnhhk` pg

    ahykpamnpk(

    Qkp ah L{hk ?::; n ekrk p}g eghpf nipkr dknyahm pfk RKB pfa igrekr fkn` gipfk Khigrbkekhp ah Igrp ]grpf k%enadk` pfk RKB Kpfab Giiabk pfnp fk fn` okkhnzzrgnbfk` nog{p rkzrkkhpahm SRpnhigr`U ( ( ( ah bghhkbpagh }apf &}fnp nzzknr pg ok! nzrkdaeahnrq ah~{arq oq pfk Igrp ]grpf giiabk( Fk i{rpfkr pnpk` A ne hgp n}nrk gi nhqbghidabp nh` A `g hgp rkekeokr nhq enppkr zkh`ahm gh Rpnhigr` }fadk A }n np pfkbgeeaagh(

    Nipkr pfk RKB Kpfab Giiabk `khak` fa rk~{kp ah L{hk ?::; ah Rkzpkeokr ?::9Rpnhigr` rkpnahk` pfa igrekr fkn` gi Khigrbkekhp ah Igrp ]grpf pg nap }apf ah~{arak

    Rpnhigr` }n rkbkayahm irge rkm{dnpgrq n{pfgrapak ahbd{`ahm pfk RKB( Fk ekp }apfRpnhigr` Iahnhband Mrg{z Mkhkrnd Bg{hkd ah Rpnhigr` Eanea giiabk nh` oaddk`Rpnhigr` igr fa paek( Igddg}ahm pfk ekkpahm fk oaddk` 9(; fg{r pg Rpnhigr` gh Gbpgokr0 ?::9 igr ahpkr ndan rkyak}SahmU `gb{ekhpnpagh rkbkayk` irge bgeznhq nog{p RKBnh` HNR@ ah~{arak( Gh Gbpgokr >? ?::9 fk oaddk` Rpnhigr` :(= fg{r igr nSpUkdkzfghk bghikrkhbk }apf SRpnhigr` Iahnhband Mrg{z Mkhkrnd Bg{hkdU rkmnr`ahmpnp{ gi RKB nh` HNR@ enppkr( Ah dnpk Hgykeokr ?::9 fk bnddk` fa igrekr{ogr`ahnpk pfk Napnhp @arkbpgr }fg }n }grcahm gh pfk Rpnhigr` enppkr ah Igrp

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    ]grpf }fg nck` fae `{rahm pfk bghykrnpagh SBUnh qg{ }grc gh pfa7 nh` }fg ahinbp pgd` fae Ae hgp {rk qg{rk nodk pg }grc gh pfa( Hknr pfk paek gi pfa bndd fkokdnpk`dq g{mfp zkreaagh irge pfk RKB Kpfab Giiabk pg rkzrkkhp Rpnhigr`( PfkRKB Kpfab giiabk rkzdak` pfnp fk bg{d` hgp rkzrkkhp Rpnhigr` igr pfk nek rkngh maykh

    n qknr knrdakr nh` fk `abghpah{k` fa rkzrkkhpnpagh(

    Ah Ikor{nrq ?::1 aeek`anpkdq nipkr pfk RKB {k` Rpnhigr` pfa nek igrekrfkn` gi Khigrbkekhp ah Igrp ]grpf bghpnbpk` pfk RKB Kpfab Giiabk n pfar` paek nog{prkzrkkhpahm Rpnhigr` ah bghhkbpagh }apf pfk RKB enppkr pfa paek pg `kikh` Rpnhigr`nmnahp pfk dn}{ap iadk` oq pfk RKB( Nh RKB Kpfab giiaband pkpaiak` pfnp fk bg{d` hgprkbndd nhgpfkr gbbnagh ah }fabf n igrekr RKB kezdgqkk bghpnbpk` fa giiabk gh pfrkkkznrnpk gbbnagh prqahm pg rkzrkkhp n bdakhp ah pfk nek enppkr( Nipkr pfk RKB KpfabGiiabk ahigrek` fae igr n pfar` paek pfnp fk bg{d` hgp rkzrkkhp Rpnhigr` pfk igrekr fkn`gi Khigrbkekhp ah Igrp ]grpf okbnek {zkp }apf pfk `kbaagh nrm{ahm pfnp pfk enppkrzkh`ahm ah ?::1 }n hk} nh` }n `aiikrkhp nh` {hrkdnpk` pg pfk enppkr pfnp fn`

    gbb{rrk` okigrk fk dkip( ]fkh nck` }fq fk }n g ahapkhp gh rkzrkkhpahm Rpnhigr`fk rkzdak` Kykrq dn}qkr ah Pkvn nh` okqgh` a mgahm pg mkp rabf gykr pfa bnk( Gcnq7Nh` A fnpk` okahm gh pfk a`kdahk(

    Pfk GAM ahykpamnpagh ig{h` pfnp pfk igrekr fkn` gi Khigrbkekhp ah Igrp ]grpfrkzrkkhpnpagh gi Rpnhigr` nzzknrk` pg yagdnpk pnpk onr r{dk pfnp zrgfaoap n igrekrmgykrhekhp kezdgqkk irge }grcahm gh enppkr ah }fabf pfnp ah`aya`{nd znrpabaznpk` n nmgykrhekhp kezdgqkk( Nbbgr`ahmdq }k nrk rkikrrahm pfa _kzgrp gi Ahykpamnpagh pg pfkBgeeaagh Kpfab Bg{hkd igr rkikrrnd pg pfk Giiabk gi Onr Bg{hkd igr pfk @aprabp giBgd{eoan nh` pfk Bfaki @abazdahnrq Bg{hkd igr pfk Rpnpk Onr gi Pkvn pfk pnpk ah}fabf fk a n`eappk` pg zrnbpabk dn}(

    ]k nrk ndg rkbgeekh`ahm pfnp pfk Bfnarenh bnrki{ddq rkyak} pfa rkzgrpiah`ahm nh` fnrk }apf Khigrbkekhp enhnmkekhp pfk zgrpagh gi pfa _GA pfnp rkdnpk pgpfk zkrigrenhbk inad{rk oq pfgk kezdgqkk }fg padd }grc np pfk RKB g pfnpnzzrgzranpk nbpagh &}fabf enq ahbd{`k zkrigrenhbk%onk` nbpagh ai nzzdabnodk! a pnckhgh nh kezdgqkk%oq%kezdgqkk ona pg kh{rk pfnp i{p{rk `kbaagh nog{p }fkh pg gzkh nhahykpamnpagh nh` }fkh pg rkbgeekh` pfnp pfk Bgeeaagh pnck nbpagh nrk en`k ah negrk nzzrgzranpk enhhkr( ]k nrk ndg rkbgeekh`ahm pfnp pfk Bfnarenh nh` @arkbpgr giKhigrbkekhp mayk bgha`krnpagh pg zrge{dmnpahm nh`'gr bdnraiqahm zrgbk`{rk }apf rkmnr`pg kykh zkbaiab nrkn gi bghbkrh pfnp }k a`khpaiq ah pfk rkzgrp(

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    _KR[DPR GI PFK AHYKRPAMNPAGH

    A( AH >11=$ PFK I]@G KVNEAHNPAGH RPNII _KYAK]K@ RPNHIG_@RO_GCK_%@KNDK_ GZK_NPAGHR NH@ EN@K N _KIK__ND PG

    KHIG_BKEKHP @[K PG N BGHBK_H PFNP APR RNDKR GI B@

    BGHRPAP[PK@ N ZGH\A RBFKEK

    N( P}g Qknr Nipkr Rpnhigr` Mrg{z Bgeznhq Okmnh Gzkrnpagh$ pfk

    RKB A`khpaiak` Ap n n _ac nh` n Pnrmkp Igr nh Kvneahnpagh Onk`

    gh R{zabagh Pfnp Ap B@ Rndk ]krk Irn{`{dkhp

    Rpnhigr` Mrg{z Bgeznhq &RMB! rkmapkrk` }apf pfk Bgeeaagh n nhahykpekhp n`yakr ah Rkzpkeokr >11; nh` n n orgckr%`kndkr ah Gbpgokr >11;( Rkk

    Kvfaoap 01 np >3 Kvfaoap ;; np ?( RMB }n g}hk` oq _gokrp Nddkh Rpnhigr }fg ndgg}hk` kykrnd niiadanpk` bgeznhak ahbd{`ahm Rpnhigr` Ahpkrhnpaghnd Onhc &RAO! nhgiifgrk onhc dgbnpk` ah Rp( Lgfh Nhpam{n ]kp Ah`ak( Kvfaoap 01 np >(

    RMB bgh`{bpk` n mkhkrnd kb{rapak o{ahk pfrg{mf n i{ddq `abdgk` bdknrahmnrrnhmkekhp }apf Oknr Rpknrh Rkb{rapak Bgrzgrnpagh nh` n gi >11= fn` iayk ornhbfgiiabk nh` 99 kezdgqkk ?; gi }fabf }krk rkmapkrk` rkzrkkhpnpayk( A`( Np pfnp paekpfk iare fn` nzzrgvaenpkdq ?::: &>?:: igrkamh! b{pgekr nbbg{hp( A`(

    RMB }n niiadanpk` pfrg{mf bgeegh g}hkrfaz }apf RAO nh giifgrk ahykpekhponhc( A`( np ?( RMB fn` n }rappkh nmrkkekhp }apf RAO }fkrkah RMB rkikrrk` ap igrkamh

    b{pgekr pg RAO ah rkp{rh igr }fabf RAO zna` n rkb{rrahm nhh{nd 2(=;+ rkikrrnd ikk pgRMB gh ndd `kzgap rkikrrk` pg RAO( A`( RAO giikrk` pfkk b{pgekr kykrnd pqzk gizrg`{bp ahbd{`ahm pfk IdkvB@ Nbbg{hp }fabf bgezrak` 19+ gi ndd bnf `kzgap npRAO( A`(

    Pfk IdkvB@ Nbbg{hp rk~{ark` n eahae{e ondnhbk gi $>:::: fn` enp{rapak nh`nhh{nd ahpkrkp rnpk rnhmahm irge ghk eghpf np =(?;+ pg 29 eghpf np >:+ nh`}apf`rn}nd gi {z pg ?;+ gi pfk zrahbaznd neg{hp }krk nddg}k` }apfg{p zkhndpak }apf niayk `nq n`ynhbk hgpabk( A`( N gi L{dq 2> >11= RMB }n `{k rkikrrnd ikk gi $1;60?0}fabf }n onk` gh b{pgekr `kzgap np RAO gi $2:991;;0; &=;+ gi ndd `kzgap npRAO!( A`(

    Nipkr RMB iabnd qknr kh`k` ah L{hk >11= L{dak Zrk{app pfkh n ornhbf bfaki ahpfk I]@G Orgckr%@kndkr Kvneahnpagh mrg{z rkyak}k` ap nhh{nd n{`ap n znrp gi nzrgbk pg a`khpaiq pnrmkpSU igr kvneahnpagh(6 @kbkeokr >0 ?::1 Zrk{app Pkpaeghq

    6 Enrq Dg{ Ikdenh Napnhp @aprabp N`eahaprnpgr igr pfk I]@G Kvneahnpagh zrgmrne irge >169pfrg{mf pfk kh` gi >11= nh` Zrk{app {zkryagr `kbraok` Zrk{app n nh kvbkddkhp ornhbf bfaki( IkdenhPkpaeghq Pr( np 2?(

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    Pfa `gb{ekhp a {olkbp pg pfk zrgyaagh gi pfk Zraynbq Nbp gi >1=0$ nh` enq rk~{ark rk`nbpagh okigrk

    `abdg{rk pg pfar` znrpak( Hg rk`nbpagh fn okkh zkrigrek` oq pfk Giiabk gi Ahzkbpgr Mkhkrnd(

    _kbazakhp gi pfa rkzgrp fg{d` hgp `akeahnpk gr bgzq ap }apfg{p pfk Ahzkbpgr Mkhkrnd nzzrgynd(

    Pr( np >2( Zrk{app pkpaiak` pfnp onk` gh fkr rkyak} gi RMB iahnhband pnpkekhp fkokbnek ykrq bghbkrhk` ah pkre Spfnp RMBU fn` ghdq okkh gzkh igr p}g qknr3 nh` pfkiare fn` mghk irge ykrq dappdk rkykh{k pg nh ahbrk`aodk neg{hp gi rkykh{k ah n ykrq fgrppaek zkrag` }fabf S}nU ykrq {h{{nd( A`( Rzkbaiabnddq Zrk{app kvzdnahk` pfnp okbn{k

    RMB rkykh{k irge B@ }krk kvprngr`ahnrq fk bfk`{dk` nh kvneahnpagh( A`( np>0( Zrk{app pkpaiak` pfnp onk` gh pfk rk` idnm fk a khpaiak` fk {zkbpk` pfk B@ ndk}krk irn{`{dkhp3 SaUp dggck` dack pfkrk }n n zrgodke A`( np >;(

    Zrk{app namhk` pfk RMB kvneahnpagh pg n I]@G pniinbbg{hpnhp okbn{k fk fn` pfk egp bghia`khbk ah fae nh` okdakyk` fk }n n ykrqmgg` kvneahkr( A`( np >9( Np pfnp zgahp ah paek fn` kykh qknr gi kvzkrakhbkbgh`{bpahm orgckr%`kndkr kvneahnpagh np pfk Hnpaghnd Ngbanpagh gi Rkb{rapak @kndkr&HNR@! nh` iayk qknr gi kvzkrakhbk bgh`{bpahm orgckr%`kndkr kvneahnpagh np pfkRKB( Pkpaeghq Pr( np 6%1( Ah n``apagh pg fa kvzkrakhbk Zrk{app pkpaiak` pfnp

    fn` kvbkddkhp l{`mekhp( @kbkeokr >0 ?::1 Zrk{app Pkpaeghq Pr( np >=(

    O( Nipkr Bgh`{bpahm n Rfgrp Kvneahnpagh$ pfk Kvneahnpagh Rpnii

    Bghbd{`k` Pfnp Rpnhigr` ]n Zrgonodq Gzkrnpahm n Zgh|a Rbfkek

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