• No results found

De morbiditeit van astma en COPD in Nederland; leemtes in kennis gevuld door aanvullende analyses en actualisering van beschikbare gegevensbronnen | RIVM

N/A
N/A
Protected

Academic year: 2021

Share "De morbiditeit van astma en COPD in Nederland; leemtes in kennis gevuld door aanvullende analyses en actualisering van beschikbare gegevensbronnen | RIVM"

Copied!
141
0
0

Bezig met laden.... (Bekijk nu de volledige tekst)

Hele tekst

(1)5,90UDSSRUW 'HPRUELGLWHLWYDQDVWPDHQ&23'LQ 1HGHUODQGOHHPWHVLQNHQQLVJHYXOGGRRU DDQYXOOHQGHDQDO\VHVHQDFWXDOLVHULQJYDQ EHVFKLNEDUHJHJHYHQVEURQQHQ &7DEDNHQ+$6PLW. 'LWRQGHU]RHNZHUGYHUULFKWLQRSGUDFKWHQWHQODVWHYDQKHW1HGHUODQGV$VWPD)RQGVLQKHW NDGHUYDQSURMHFW9(SLGHPLRORJLHYDQDVWPDHQ&23'1$)SURMHFWQXPPHU PLMOSDDO'HPRUELGLWHLWYDQDVWPDHQ&23'LQ1HGHUODQG!. 5,903RVWEXV%$%LOWKRYHQWHOHIRRQID[.

(2) SDJYDQ. 5,90UDSSRUW.

(3) 5,90UDSSRUW. SDJYDQ. $EVWUDFW 7KHPRUELGLW\RIDVWKPDDQG&KURQLF2EVWUXFWLYH3XOPRQDU\'LVHDVHLQWKH 1HWKHUODQGVDGGLWLRQDODQDO\VLVDQGXSGDWHRIDYDLODEOHGDWD 7KLVVWXG\FRPPLVVLRQHGE\WKH1HWKHUODQGV$VWKPD)XQGILOOVJDSVLQWKHNQRZOHGJHRQ WKHPRUELGLW\RIDVWKPDDQGFKURQLFREVWUXFWLYHSXOPRQDU\GLVHDVH &23'

(4) LGHQWLILHGLQDQ HDUOLHUVXUYH\6SHFLILFREMHFWLYHVZHUHWR

(5) LQWHJUDWHQHZO\DYDLODEOHGDWDRQWUHQGVLQ DVWKPDDQG&23'IURPJHQHUDOSUDFWLFHUHJLVWHUVDQG

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

(7) SDJYDQ. 5,90UDSSRUW.

(8) 5,90UDSSRUW. SDJYDQ. 9RRUZRRUG 'LWUDSSRUWEHVFKULMIWGHEHVFKLNEDUHJHJHYHQVRYHUSUHYDOHQWLHHQLQFLGHQWLHYDQDVWPDHQ &23'XLWKXLVDUWVHQUHJLVWUDWLHHQHSLGHPLRORJLVFKHSRSXODWLHVWXGLHVLQ1HGHUODQG,QGH YRRUDIJDDQGHLQYHQWDULVHUHQGHVWXGLH 6PLWHQ%HDXPRQW

(9) ZHUGHQGHGHVWLMGV EHVFKLNEDUHJHJHYHQVJHSUHVHQWHHUGHQZHUGDDQJHJHYHQZHONHOHHPWHVLQNHQQLVJHYXOG ]RXGHQNXQQHQZRUGHQGRRUDDQYXOOHQGHDQDO\VHV$DQYXOOHQGHDQDO\VHVHQDFWXDOLVHULQJ YDQEHVFKLNEDUHJHJHYHQVEURQQHQ]LMQXLWJHYRHUGGRRUGHEHKHUHQGHLQVWDQWLHV  'HLQFLGHQWLHYDQGHKXLVDUWVHQGLDJQRVHDVWPDHQ&23'QDDUHWQLFLWHLWZHUG JHUDSSRUWHHUGPHWJHJHYHQVYDQGHHHUVWHµ1DWLRQDOH6WXGLHQDDUYHUULFKWLQJHQLQGH KXLVDUWVHQSUDNWLMN¶GRRULU-&0YDQGHU%XUJHQGU)*6FKHOOHYLV 1,9(/

(10)   'HDFWXDOLVHULQJYDQGHWUHQGVLQGHKXLVDUWVHQGLDJHQRVHDVWPDHQ&23'LVJHEDVHHUGRS JHJHYHQVYDQGH&RQWLQXH0RUELGLWHLWVUHJLVWUDWLH1LMPHJHQ &05

(11) HQLVWRWVWDQG JHNRPHQGRRUVDPHQZHUNLQJYDQGH&051LMPHJHQ GU(+YDQGH/LVGRQN

(12) HQKHW &HQWUXPYRRU9RONVJH]RQGKHLG7RHNRPVW9HUNHQQLQJHQYDQKHW5,90 GUV5*LMVHQ

(13)   'HOHHIWLMGHQJHVODFKWVVSHFLILHNHSUHYDOHQWLHVYDQFRPELQDWLHVYDQNHQPHUNHQYDQ DVWPDHQ&23'ELMYROZDVVHQHQZHUGHQJHUDSSRUWHHUGRSEDVLVYDQKHW(XURSHHV /XFKWZHJ2QGHU]RHN1HGHUODQGGRRUGUV0.HUNKRI 9DNJURHS(SLGHPLRORJLH 5LMNVXQLYHUVLWHLW*URQLQJHQ

(14)   'HOHHIWLMGHQJHVODFKWVVSHFLILHNHSUHYDOHQWLHVYDQFRPELQDWLHVYDQNHQPHUNHQYDQ DVWPDELMNLQGHUHQDOVPHGHGHVRFLDDOHFRQRPLVFKHYHUVFKLOOHQGDDULQZHUGHQ JHUDSSRUWHHUGRSEDVLVYDQGH,6$$&,,VWXGLHGRRUGU*GH0HHU ,QVWLWXWHIRU5LVN $VVHVVPHQW6FLHQFHV8QLYHUVLWHLW8WUHFKW

(15)   'HOHHIWLMGHQJHVODFKWVVSHFLILHNHSUHYDOHQWLHYDQ&$5$QDDUHUQVWJUDGHQLQGH ',0&$VWXGLHZHUGRQGHU]RFKWGRRULU0$OEHUV .DWKROLHNH8QLYHUVLWHLW1LMPHJHQ

(16)   'HVRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQNHQPHUNHQYDQDVWPDHQ&23'ELMYROZDVVHQHQ RSEDVLVYDQRSOHLGLQJZHUGHQJHUDSSRUWHHUGPHWJHJHYHQVYDQKHW0RQLWRULQJ 2QGHU]RHN5LVLFRIDFWRUHQHQ*H]RQGKHLG1HGHUODQGGRRUGULU&7DEDNHQGULU+$ 6PLW 5LMNVLQVWLWXXWYRRU9RONVJH]RQGKHLGHQKHW0LOLHX%LOWKRYHQ

(17)  'HUHVXOWDWHQYDQGHDQDO\VHV]LMQGRRUGHRQGHU]RHNHUVEHVFKUHYHQLQDI]RQGHUOLMNH UDSSRUWHQZDDUQDDUZRUGWYHUZH]HQLQGHEHWUHIIHQGHSDUDJUDIHQ2SGH]HSODDWVZLOOHQZLM GHRQGHU]RHNHUVKDUWHOLMNGDQNHQYRRUGHSUHWWLJHVDPHQZHUNLQJELMKHWWRWVWDQGNRPHQYDQ GH]HUDSSRUWHQHQYRRUGHWLMGLJHRSOHYHULQJYDQGHUHVXOWDWHQ=RQGHUWLMGLJHRSOHYHULQJ]RX KHWRQVQLHWPRJHOLMN]LMQJHZHHVWRPGHUDSSRUWDJHRSGHDIJHVSURNHQWLMGDDQKHW 1HGHUODQGV$VWPD)RQGVXLWWHEUHQJHQ.

(18) SDJYDQ. 5,90UDSSRUW.

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

(20) SDJYDQ. 5,90UDSSRUW.  /XFKWZHJREVWUXFWLH  9HUNODULQJYDQYHUVFKLOOHQLQGHSUHYDOHQWLHYDQDVWPDHQ&23'NHQPHUNHQWXVVHQ RSOHLGLQJVQLYHDXVGRRUOHHIVWLMOIDFWRUHQ . . .RUWHWHUPLMQWUHQGLQGHSUHYDOHQWLHYDQDVWPDHQ&23'.  .  6DPHQYDWWLQJYDQGHJHJHYHQVXLWHSLGHPLRORJLVFKHSRSXODWLHVWXGLHVELMYROZDVVHQHQ  3UHYDOHQWLHQDDUOHHIWLMGHQJHVODFKW  3UHYDOHQWLHLQVSHFLILHNHJURHSHQ  .RUWHWHUPLMQWUHQG.    . 3UHYDOHQWLHYDQDVWPDELMNLQGHUHQRSEDVLVYDQHSLGHPLRORJLVFKHSRSXODWLHVWXGLHV. .  3UHYDOHQWLHYDQDVWPDNHQPHUNHQQDDUOHHIWLMGHQJHVODFKW  /XFKWZHJV\PSWRPHQ  .OLQLVFKHNHQPHUNHQ  &RPELQDWLHVYDQDVWPDV\PSWRPHQPHWNOLQLVFKHNHQPHUNHQ.    . . 3UHYDOHQWLHYDQOXFKWZHJV\PSWRPHQQDDUUHJLR. . . 3UHYDOHQWLHYDQOXFKWZHJV\PSWRPHQLQFRPELQDWLHPHWNOLQLVFKHNHQPHUNHQYDQDVWPDQDDURSOHLGLQJ. . 3UHYDOHQWLHYDQOXFKWZHJV\PSWRPHQQDDUHWQLFLWHLW. . . 7UHQGVLQGHWLMG. .  6DPHQYDWWLQJYDQJHJHYHQVXLWHSLGHPLRORJLVFKHVWXGLHVELMNLQGHUHQ  3UHYDOHQWLHYDQDVWPDNHQPHUNHQQDDUOHHIWLMGHQJHVODFKW  3UHYDOHQWLHYDQDVWPDNHQPHUNHQLQVSHFLILHNHJURHSHQ  7UHQGVLQGHWLMG . . 6DPHQYDWWLQJHQFRQFOXVLHV.     .  'HPRUELGLWHLWYDQDVWPDLQ1HGHUODQG. . . 'HPRUELGLWHLWYDQ&23'LQ1HGHUODQG. . . &RQFOXVLH. . /LWHUDWXXU. . %LMODJH6DPHQYDWWLQJYDQUHVXOWDWHQYDQDDQYXOOHQGHDQDO\VHVLQRSGUDFKWYDQKHW1HGHUODQGV $VWPD)RQGV. . %LMODJH3UHYDOHQWLHHQLQFLGHQWLHYDQDVWPDHQ&23'XLWKXLVDUWVHQUHJLVWUDWLHV. . %LMODJH3UHYDOHQWLHYDQNHQPHUNHQYDQDVWPDHQ&23'ELMYROZDVVHQHQXLWHSLGHPLRORJLVFKH SRSXODWLHVWXGLHV. . %LMODJH3UHYDOHQWLHYDQNHQPHUNHQYDQDVWPDELMNLQGHUHQXLWHSLGHPLRORJLVFKHSRSXODWLHVWXGLHV. .

(21) 5,90UDSSRUW. SDJYDQ. 6DPHQYDWWLQJ 2PDVWPDHQ&23'LQ1HGHUODQGEHWHUWHNXQQHQYRRUNyPHQHQEHKDQGHOHQLVLQIRUPDWLH QRGLJRYHUKHWDDQWDOHQKHWSHUFHQWDJHPHQVHQLQ1HGHUODQGGDWOLMGWDDQDVWPDRI&23' 2RNLVKHWQRGLJRPWHZHWHQELMZHONHPHQVHQDVWPDHQ&23'QXYRRUDOYHHOYyyUNRPW $OVGDWEHNHQGLVLVKHWHHQYRXGLJHURPSUHYHQWLHYHPDDWUHJHOHQWHULFKWHQRSPHQVHQGLH HHQKRRJULVLFRKHEEHQRPDVWPDRI&23'WHNULMJHQ +HW5LMNVLQVWLWXXWYRRU9RONVJH]RQGKHLGHQ0LOLHXKHHIWLQRSYHU]RHNYDQKHW 1HGHUODQGV$VWPD)RQGVJHwQYHQWDULVHHUGZHONHJHJHYHQVEHNHQGZDUHQRYHUGHPRUELGLWHLW YDQDVWPDHQ&23'LQ1HGHUODQG 6PLWHQ%HDXPRQW

(22) ,QGH]HLQYHQWDULVDWLHZHUG DDQJHJHYHQZHONHUHOHYDQWHJHJHYHQVRSGDWPRPHQWEHNHQGZDUHQRYHUKHWYyyUNRPHQYDQ DVWPDHQ&23'DI]RQGHUOLMNRYHUKHWSHUFHQWDJHSHUVRQHQGDWHUQVWLJHDVWPDRI&23'KHHIW HQRYHUYHUVFKLOOHQLQKHWSHUFHQWDJHSHUVRQHQPHWDVWPDHQ&23'WXVVHQOHHIWLMGVJURHSHQ VRFLDDOHFRQRPLVFKHJURHSHQHWQLVFKHJURHSHQHQUHJLR¶V ,QKHWLQYHQWDULVHUHQGHUDSSRUWZHUGJHFRQFOXGHHUGGDWHUDOYHHOLQIRUPDWLHEHVFKLNEDDUZDV. RYHUDVWPDHQ&23'LQ1HGHUODQG(FKWHUZDQQHHUJHULFKWHDDQYXOOHQGHDQDO\VHV]RXGHQ ZRUGHQJHGDDQRSGHEHVWDDQGHJHJHYHQV]RXGHQ]RQGHUQLHXZHRQGHU]RHNHQXLWWHYRHUHQ QRJKHHOZDWOHHPWHVLQNHQQLVNXQQHQZRUGHQRSJHYXOG  'HKXLGLJHRQGHU]RHNVRSGUDFKWYDQKHW1HGHUODQGV$VWPD)RQGVEHWURI

(23) HHQDFWXDOLVHULQJ. YDQGHHHUGHUJHUDSSRUWHHUGHJHJHYHQVRYHUWUHQGVLQDVWPDHQ&23'RSEDVLVYDQ KXLVDUWVHQUHJLVWUDWLHVHQ

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yyU" ΠRQJHYHHUYDQGHWRWDOHEHYRONLQJLQ1HGHUODQGKDGLQHHQKXLVDUWVHQGLDJQRVH DVWPD ΠYDQGHYROZDVVHQHQKDGZHOHHQVODVWYDQDVWPDV\PSWRPHQ]RDOV NRUWDGHPLJKHLGHQSLHSHQRSGHERUVW ΠUXLPYDQGHYROZDVVHQHQKDGDVWPDV\PSWRPHQLQFRPELQDWLHPHW OXFKWZHJJHYRHOLJKHLGUXLPKDGDVWPDV\PSWRPHQLQFRPELQDWLHPHWDWRSLHHQ RQJHYHHUKDGDVWPDV\PSWRPHQLQFRPELQDWLHPHWDWRSLHpQOXFKWZHJJHYRHOLJKHLG ΠRQJHYHHUYDQGHWRWMDULJHNLQGHUHQKDGDVWPDV\PSWRPHQLQFRPELQDWLHPHW DWRSLHKDGDVWPDV\PSWRPHQLQFRPELQDWLHPHWOXFKWZHJJHYRHOLJKHLGHQKDG DVWPDV\PSWRPHQLQFRPELQDWLHPHWDWRSLHpQOXFKWZHJJHYRHOLJKHLG ,VHUHHQWRHQDPHYDQDVWPDLQGHWLMG" ΠKHWSHUFHQWDJHSHUVRQHQPHWHHQKXLVDUWVHQGLDJQRVHDVWPDEOHHIWXVVHQHQ YULMZHOJHOLMNRSRQJHYHHUJHYDOOHQSHUSHUVRQHQWXVVHQHQYRQGHHQ VWLMJLQJYDQGHSUHYDOHQWLHSODDWVWRWJHYDOOHQSHUSHUVRQHQ ΠHU]LMQDDQZLM]LQJHQYRRUHHQVWLMJLQJYDQGHSUHYDOHQWLHYDQDVWPDV\PSWRPHQELM YURXZHQPHWSHUMDDURYHUGHSHULRGH%LMPDQQHQZHUGJHHQ YHUDQGHULQJLQGHSUHYDOHQWLHRYHUGHWLMGZDDUJHQRPHQ ΠGHSUHYDOHQWLHYDQDVWPDV\PSWRPHQELMNLQGHUHQGLHZHUGZDDUJHQRPHQLQVWXGLHVWXVVHQ YHUWRRQGHHHQVWLMJHQGHWUHQG'HLQWHUSUHWDWLHYDQGH]HJHJHYHQVLVQLHW HHQGXLGLJRPGDWYHUDQGHULQJHQLQGHWLMGVDPHQNXQQHQKDQJHQPHWHHQWRHQHPHQG EHZXVW]LMQYDQDVWPDLQGHDOJHPHQHEHYRONLQJHQPHWYHUDQGHULQJHQLQGHJHQHLJGKHLG ELMKXLVDUWVHQRPDVWPDWHGLDJQRVWLFHUHQ'HPRJHOLMNWRHJHQRPHQJHQHLJGKHLGRP DVWPDWHGLDJQRVWLFHUHQZRUGWJHwOOXVWUHHUGGRRUGHZDDUQHPLQJGDWGHSUHYDOHQWLHYDQ HHQKXLVDUWVHQGLDJQRVHDVWPDLQGHSHULRGHHQELM$PVWHUGDPVH VFKRRONLQGHUHQJHVWHJHQZDVELMJHOLMNEOLMYHQGHSUHYDOHQWLHYDQJHUDSSRUWHHUGH V\PSWRPHQLQGH]HOIGHSRSXODWLH .RPWDVWPDHYHQYHHOYRRUELMDOOHOHHIWLMGVJURHSHQHQELMPDQQHQHQYURXZHQ" ΠDVWPDRQWZLNNHOW]LFKYRRUDORSGHNLQGHUOHHIWLMG'HSUHYDOHQWLHYDQGH KXLVDUWVHQGLDJQRVHDVWPDZDVLQRQJHYHHUELMNLQGHUHQ'HSUHYDOHQWLHQDP QDGHSXEHUWHLWDIWRWRQJHYHHUELMRXGHUHQERYHQGHMDDU ΠELMYROZDVVHQHQQDPGHSUHYDOHQWLHYDQDVWPDV\PSWRPHQLQFRPELQDWLHPHW]RZHO OXFKWZHJJHYRHOLJKHLGDOVDWRSLHDIPHWGHOHHIWLMG ΠLQGHNLQGHUWLMGZRUGWDVWPDYDNHUELMMRQJHQVJHGLDJQRVWLFHHUGGDQELMPHLVMHV  YHUVXV

(27) 2RNLQGH,6$$&,,VWXGLHNZDPHQDVWPDV\PSWRPHQDWRSLHHQ OXFKWZHJJHYRHOLJKHLGDI]RQGHUOLMNYDNHUYRRUELMWRWMDULJHMRQJHQVGDQELMPHLVMHV.

(28) 5,90UDSSRUW. SDJYDQ. YDQGLHOHHIWLMG'HFRPELQDWLHYDQGLHNHQPHUNHQNZDPELMMRQJHQVHFKWHUHYHQYDDN YRRUDOVELMPHLVMHV Œ ERYHQGHOHHIWLMGYDQMDDULVGHSUHYDOHQWLHYDQHHQKXLVDUWVHQGLDJQRVHDVWPDELM YURXZHQKRJHUGDQELMPDQQHQ'HSUHYDOHQWLHYDQDVWPDV\PSWRPHQLQFRPELQDWLHPHW DWRSLHHQOXFKWZHJJHYRHOLJKHLGELMYROZDVVHQYURXZHQZDVYHUJHOLMNEDDUPHWGLHELM PDQQHQ Œ ERYHQGHOHHIWLMGYDQMDDUNRPHQDVWPDHQ&23'VWHHGVYDNHUJHOLMNWLMGLJYRRU(HQ NZDUWYDQGHYROZDVVHQHQPHWOXFKWZHJV\PSWRPHQKDGHHQFRPELQDWLHYDQDVWPDHQ &23'V\PSWRPHQ =LMQHUYHUVFKLOOHQWXVVHQUHJLR¶VLQKHWSHUFHQWDJHSHUVRQHQPHWDVWPD" Œ HU]LMQJHHQGXLGHOLMNHUHJLRQDOHSDWURQHQGLHGXLGHQRSHHQFRQVLVWHQWKRJHUHSUHYDOHQWLH YDQDVWPDELMYROZDVVHQHQRINLQGHUHQLQEHSDDOGHUHJLR¶V =LMQHUYHUVFKLOOHQWXVVHQVRFLDDOHFRQRPLVFKHNODVVHQLQKHWSHUFHQWDJHSHUVRQHQPHW DVWPD" Œ HU]LMQJHHQDDQZLM]LQJHQYRRUVRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQGHKXLVDUWVHQGLDJQRVH DVWPDHQLQGHSUHYDOHQWLHYDQDVWPDV\PSWRPHQPHWNOLQLVFKHNHQPHUNHQ]RDOV OXFKWZHJJHYRHOLJKHLGHQDWRSLHELMNLQGHUHQ =LMQHUYHUVFKLOOHQWXVVHQHWQLVFKHJURHSHQLQKHWSHUFHQWDJHSHUVRQHQPHWDVWPD" Œ HU]LMQJHHQDDQZLM]LQJHQYRRUYHUVFKLOOHQWXVVHQDXWRFKWRQHQHQDOORFKWRQHQLQGH LQFLGHQWLHYDQHHQKXLVDUWVHQGLDJQRVHDVWPD%LQQHQGHDOORFKWRQHJURHSHQ]LMQHU DDQZLM]LQJHQYRRUHHQKRJHUHLQFLGHQWLHYDQDVWPDELMLQZRQHUVYDQ6XULQDDPVHDINRPVW *H]LHQGHJHULQJHRPYDQJYDQGHRQGHU]RHNVSRSXODWLHNDQGH]HZDDUQHPLQJHFKWHUQLHW FDXVDDOJHwQWHUSUHWHHUGZRUGHQ Œ HU]LMQDDQZLM]LQJHQGDWDOORFKWRQHNLQGHUHQYDQ7XUNVHHQ0DURNNDDQVHDINRPVWPLQGHU YDDNDVWPDNODFKWHQKHEEHQGDQDXWRFKWRQHNLQGHUHQ 'HPRUELGLWHLWYDQ&23'LQ1HGHUODQG +RHYHHONRPW&23'YyyU" Œ RQJHYHHUYDQGHPDQQHQHQYDQGHYURXZHQLQ1HGHUODQGKDGLQHHQ KXLVDUWVHQGLDJQRVHFKURQLVFKHEURQFKLWLV&23' Œ YDQGHYROZDVVHQHQKDGZHOHHQVODVWYDQ&23'V\PSWRPHQ]RDOVFKURQLVFK KRHVWHQHQVOLMPRSJHYHQ Œ ELMUXLPYDQGHYROZDVVHQPDQQHQHQYDQGHYURXZHQNZDPHQ&23' V\PSWRPHQYyyUGLHJHSDDUGJLQJHQPHWHHQDDQ]LHQOLMNHOXFKWZHJREVWUXFWLH )(9 YDQGHYRRUVSHOGHZDDUGH

(29)  . ,VHUHHQWRHQDPHYDQ&23'LQGHWLMG" ΠKHWSHUFHQWDJHPDQQHQPHWHHQKXLVDUWVHQGLDJQRVHFKURQLVFKHEURQFKLWLV&23' 

(30) GDDOGHOLFKWWXVVHQHQ%LMYURXZHQQDPKHWSHUFHQWDJH&23'SDWLsQWHQWRH YDQJHYDOOHQSHUSHUVRQHQURQGWRWJHYDOOHQSHUSHUVRQHQLQ +HWLVDDQQHPHOLMNGDWGHVWLMJLQJYDQ&23'ELMYURXZHQKHWJHYROJLVYDQGHWRHQDPH YDQKHWURNHQRQGHUYURXZHQ ΠRRNXLWHHQVWXGLHRQGHUGHDOJHPHQHEHYRONLQJNRPHQDDQZLM]LQJHQYRRUHHQVWLMJLQJ YDQGHSUHYDOHQWLHYDQ&23'V\PSWRPHQELMYURXZHQPHWSHUMDDURYHUGHSHULRGH %LMPDQQHQZHUGJHHQYHUDQGHULQJLQSUHYDOHQWLHRYHUGHWLMGZDDUJHQRPHQ.

(31) SDJYDQ. 5,90UDSSRUW. .RPW&23'HYHQYHHOYRRUELMDOOHOHHIWLMGVJURHSHQHQELMPDQQHQHQYURXZHQ" Π&23'NRPWYRRUDOYyyUERYHQGHOHHIWLMGYDQMDDU,QKDGPLQGHUGDQYDQGH PDQQHQMRQJHUGDQMDDUHHQKXLVDUWVHQGLDJQRVH&23'+HWSHUFHQWDJHPDQQHQPHW &23'OLHSRSPHWGHOHHIWLMGQDDUELMMDULJHPDQQHQ2RNELMYURXZHQNZDPGH KXLVDUWVHQGLDJQRVH&23'YDNHUYRRUDOV]HRXGHUZHUGHQPDDUKHWSHUFHQWDJHZDV EHGXLGHQGODJHURQJHYHHUYDQGHMDULJHYURXZHQKDG&23' ΠGHSUHYDOHQWLHYDQ&23'V\PSWRPHQGLHJHSDDUGJLQJHQPHWDDQ]LHQOLMNHREVWUXFWLH )(9 

(32) QDPWRHYDQELMGHMDULJHPDQQHQHQYURXZHQWRWELMGH MDULJHPDQQHQHQWRWELMGHMDULJHYURXZHQ(UZDVHHQGXLGHOLMNH VDPHQKDQJPHWURRNJHZRRQWHQELMGHURNHUVZDVGHVWLMJLQJYDQGHSUHYDOHQWLHPHWGH OHHIWLMGKHWVWHUNVWELMQRRLWURNHUVZDVHQEOHHIGHSUHYDOHQWLHODDJLQDOOH OHHIWLMGVJURHSHQ . =LMQHUYHUVFKLOOHQWXVVHQUHJLR¶VLQKHWSHUFHQWDJHSHUVRQHQPHW&23'" Œ HU]LMQJHHQGXLGHOLMNHUHJLRQDOHSDWURQHQGLHGXLGHQRSHHQFRQVLVWHQWKRJHUHSUHYDOHQWLH YDQ&23'ELMYROZDVVHQHQLQEHSDDOGHUHJLR¶V =LMQHUYHUVFKLOOHQWXVVHQVRFLDDOHFRQRPLVFKHNODVVHQLQKHWSHUFHQWDJHSHUVRQHQPHW &23'" Œ KHWSHUFHQWDJHSHUVRQHQPHWHHQKXLVDUWVHQGLDJQRVH&23'ZDVEHGXLGHQGKRJHULQGH ODJHVRFLDDOHFRQRPLVFKHNODVVHQ Œ GHSUHYDOHQWLHYDQOXFKWZHJREVWUXFWLHLQYROZDVVHQHQPHWHHQODDJRSOHLGLQJVQLYHDXZDV LQYROZDVVHQHQPHWHHQKRRJRSOHLGLQJVQLYHDXZDVGLW Œ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Œ HU]LMQJHHQDDQZLM]LQJHQYRRUHWQLVFKHYHUVFKLOOHQLQGHLQFLGHQWLHYDQGH KXLVDUWVHQGLDJQRVH&23' &RQFOXVLH 'HDDQYXOOHQGHDQDO\VHVHQDFWXDOLVHULQJYDQEHVWDDQGHJHJHYHQVEURQQHQKHEEHQ ELMJHGUDJHQDDQKHWYXOOHQYDQGHOHHPWHVLQNHQQLVRYHUGHPRUELGLWHLWYDQDVWPDHQ&23' ]RQGHUGDWXLWYRHULQJYDQQLHXZHVWXGLHVQRRG]DNHOLMNZDV2RNQLHXZYHUVFKHQHQ SXEOLFDWLHVEXLWHQKHWEHVWHNYDQGHRQGHU]RHNVRSGUDFKWKHEEHQHHQELMGUDJHKLHUDDQ JHOHYHUG7HQRS]LFKWHYDQGHHHUVWHLQYHQWDULVHUHQGHVWXGLHLVPHWQDPHPHHUNHQQLV YHUZRUYHQRYHU Œ 7UHQGVLQGHKXLVDUWVHQGLDJQRVHYDQDVWPDHQ&23'VLQGVGHOLFKWHGDOLQJYDQGH SUHYDOHQWLHYDQ&23'ELMPDQQHQKHHIW]LFKYHUGHUYRRUWJH]HWGHSUHYDOHQWLHYDQ&23' ELMYURXZHQLVVLQGVQRJOLFKWYHUGHUJHVWHJHQPDDUGHJURRWVWHVWLMJLQJYRQGSODDWV LQKHWEHJLQYDQGHMDUHQ'HVWLMJLQJYDQGHSUHYDOHQWLHYDQDVWPDELMPDQQHQHQ YURXZHQKHHIW]LFKVLQGVYRRUWJH]HW Œ &RPELQDWLHVYDQV\PSWRPHQPHWNOLQLVFKHNHQPHUNHQ'HFRPELQDWLHYDQGHJHJHYHQV YDQSRSXODWLHVWXGLHVHQKXLVDUWVHQUHJLVWUDWLHVJDYHQHHQEHWHUEHHOGYDQGH OXFKWZHJSUREOHPDWLHNLQGHDOJHPHQHEHYRONLQJGLHPRJHOLMNWHQJURQGVODJOLJWDDQGH.

(33) 5,90UDSSRUW. SDJYDQ. JHYDOOHQGLHGRRUGHKXLVDUWVZRUGHQJH]LHQHQJHGLDJQRVWLFHHUG=REOHHNELMYRRUEHHOG GDWGHOHHIWLMGVVSHFLILHNHSUHYDOHQWLHYDQHHQKXLVDUWVHQGLDJQRVHDVWPDEHGXLGHQGPHHU RYHUHHQNZDPPHWGHSUHYDOHQWLHYDQFRPELQDWLHVYDQDVWPDV\PSWRPHQHQNOLQLVFKH NHQPHUNHQYDQDVWPD2RNKHWYHUORRSPHWGHOHHIWLMGZDVYHUJHOLMNEDDU'DWJROGRRN YRRUGHSUHYDOHQWLHYDQGHKXLVDUWVHQGLDJQRVH&23'LQYHUJHOLMNLQJPHWGHSUHYDOHQWLH YDQ&23'V\PSWRPHQLQFRPELQDWLHPHWOXFKWZHJREVWUXFWLH Π6RFLDDOHFRQRPLVFKHYHUVFKLOOHQLQGHPRUELGLWHLWYDQDVWPDHQ&23'8LWGH LQYHQWDULVHUHQGHVWXGLHEOHHNGDWHUJHHQGXLGHOLMNHVRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQ DVWPDZDUHQWHUZLMOGHYHUVFKLOOHQYRRU&23'DDQ]LHQOLMNZDUHQ'HVRFLDDO HFRQRPLVFKHYHUVFKLOOHQNRQGHQYRRUHHQJURRWGHHOYHUNODDUGZRUGHQXLWVRFLDDO HFRQRPLVFKHYHUVFKLOOHQLQURRNJHGUDJ'DDUQDDVWOHYHUGHQRRNDQGHUHOHHIVWLMOIDFWRUHQ KLQJHQVDPHQPHWGHVRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQ&23' YRHGLQJDOFRKROJHEUXLN HQRYHUJHZLFKW

(34)  Π(WQLVFKHYHUVFKLOOHQLQGHPRUELGLWHLWYDQDVWPDHQ&23',QGHLQYHQWDULVHUHQGHVWXGLH ZHUGJHFRQFOXGHHUGGDWHUHHQJHEUHNZDVDDQJHJHYHQVGLHKHWPRJHOLMNPDNHQRPQDWH JDDQRIVSHFLILHNHHWQLVFKHJURHSHQHHQJURWHUHNDQVKHEEHQRSDVWPDRI&23' $DQYXOOHQGHDQDO\VHVELQQHQGHDOJHPHQHEHYRONLQJJDYHQJHHQDDQZLM]LQJHQYRRUHHQ KRJHUHLQFLGHQWLHYDQ&23'ELMHWQLVFKHJURHSHQ.

(35) SDJYDQ. 5,90UDSSRUW.

(36) 5,90UDSSRUW. . SDJYDQ. ,QOHLGLQJ. 2PDVWPDHQ&23'LQ1HGHUODQGEHWHUWHNXQQHQYRRUNyPHQHQEHKDQGHOHQLVLQIRUPDWLH QRGLJRYHUKHWDDQWDOHQKHWSHUFHQWDJHPHQVHQLQ1HGHUODQGGDWOLMGWDDQDVWPDRI&23' 2RNLVKHWQRGLJRPWHZHWHQELMZHONHPHQVHQDVWPDHQ&23'QXYRRUDOYHHOYyyUNRPW $OVGDWEHNHQGLVLVKHWHHQYRXGLJHURPSUHYHQWLHYHPDDWUHJHOHQWHULFKWHQRSPHQVHQGLH HHQKRRJULVLFRKHEEHQRPDVWPDRI&23'WHNULMJHQ +HW5LMNVLQVWLWXXWYRRU9RONVJH]RQGKHLGHQ0LOLHXKHHIWLQRSYHU]RHNYDQKHW 1HGHUODQGV$VWPD)RQGVJHwQYHQWDULVHHUGZHONHJHJHYHQVEHNHQG]LMQRYHUGHPRUELGLWHLW YDQDVWPDHQ&23'LQ1HGHUODQG 6PLWHQ%HDXPRQW

(37) *HEUXLNWHJHJHYHQVEURQQHQ ZDUHQYLHUKXLVDUWVHQUHJLVWUDWLHV GH&RQWLQXH0RUELGLWHLWUHJLVWUDWLH1LMPHJHQGH1DWLRQDOH 6WXGLHYDQKHW1,9(/KHW5HJLVWUDWLH1HW+XLVDUWVSUDNWLMNHQ/LPEXUJHQKHW 7UDQVLWLHSURMHFW

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wQWHJUHHUGLQKHWKXLGLJHUDSSRUW $FWXDOLVHULQJRSJURQGYDQQLHXZHJHJHYHQV  WUHQGVLQGHSUHYDOHQWLHYDQDVWPDHQ&23'RSEDVLVYDQJHJHYHQVYDQGH&RQWLQXH 0RUELGLWHLWVUHJLVWUDWLH1LMPHJHQ SDUDJUDDI

(40)   WUHQGVLQGHSUHYDOHQWLHYDQDVWPDHQ&23'V\PSWRPHQELMYROZDVVHQHQRYHUGH SHULRGH SDUDJUDDI

(41)   WUHQGVLQGHSUHYDOHQWLHYDQDVWPDELMNLQGHUHQRYHUGHSHULRGH SDUDJUDDI 

(42) .

(43) SDJYDQ. 5,90UDSSRUW. $DQYXOOHQGHDQDO\VHVRSEHVWDDQGHJHJHYHQV  LQFLGHQWLHYDQDVWPDHQ&23'JHGLDJQRVWLFHHUGLQGHKXLVDUWVHQUHJLVWUDWLHQDDU HWQLFLWHLWVHFXQGDLUHDQDO\VHYDQGH(HUVWH1DWLRQDOH6WXGLH SDUDJUDDI

(44)   OHHIWLMGHQJHVODFKWVSHFLILHNHSUHYDOHQWLHVYDQFRPELQDWLHVYDQNHQPHUNHQYDQDVWPD HQ&23'ELMYROZDVVHQHQVHFXQGDLUHDQDO\VHYDQKHW(XURSHHV/XFKWZHJ2QGHU]RHN 1HGHUODQG SDUDJUDIHQWP

(45)   OHHIWLMGHQJHVODFKWVSHFLILHNHSUHYDOHQWLHVYDQFRPELQDWLHVYDQOXFKWZHJV\PSWRPHQ HQNOLQLVFKHNHQPHUNHQYDQDVWPDELMNLQGHUHQVHFXQGDLUHDQDO\VHYDQGH,6$$&,, VWXGLH SDUDJUDIHQHQ

(46)   VRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQNHQPHUNHQYDQDVWPDHQ&23'ELMYROZDVVHQHQ RSEDVLVYDQRSOHLGLQJVHFXQGDLUHDQDO\VHYDQKHW0RQLWRULQJ2QGHU]RHN 5LVLFRIDFWRUHQHQ*H]RQGKHLG1HGHUODQG SDUDJUDDI

(47)   VRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQNHQPHUNHQYDQDVWPDELMNLQGHUHQRSEDVLVYDQ RSOHLGLQJYDQGHPRHGHUVHFXQGDLUHDQDO\VHYDQGH,6$$&,,VWXGLH SDUDJUDDI

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

(49) 5,90UDSSRUW. . SDJYDQ. *HEUXLNWHJHJHYHQVEURQQHQ. ,QGLWKRRIGVWXNZRUGWHHUVWHHQNRUWHEHVFKULMYLQJJHJHYHQYDQGHJHEUXLNWH JHJHYHQVEURQQHQPHWEHWUHNNLQJWRWGHLQFLGHQWLHHQSUHYDOHQWLHYDQDVWPDHQ&23'LQ 1HGHUODQG SDUDJUDDI

(50) 9RRUHHQXLWJHEUHLGHUHEHVFKULMYLQJZRUGWYHUZH]HQQDDUKHW LQYHQWDULVHUHQGHUDSSRUWµ'HPRUELGLWHLWYDQDVWPDHQ&23'LQ1HGHUODQGHHQ LQYHQWDULVHUHQGRQGHU]RHNWHQEHKRHYHYDQGHEHOHLGVRQGHUVWHXQLQJYDQKHW1HGHUODQGV $VWPD)RQGV¶ 6PLWHQ%HDXPRQW

(51) ,QSDUDJUDDIZRUGWYHUPHOGZHONH JHJHYHQVEURQQHQ]LMQJHEUXLNWHQZHONHVHFXQGDLUHDQDO\VHV]LMQYHUULFKWYRRUKHWYXOOHQYDQ OHHPWHVLQNHQQLV.  .RUWHEHVFKULMYLQJYDQJHJHYHQVEURQQHQ  +XLVDUWVHQUHJLVWUDWLHV *LMVHQHWDO 

(52) KHEEHQGHNHQPHUNHQYDQGHYROJHQGHKXLVDUWVHQUHJLVWUDWLHVXLWYRHULJ EHVFKUHYHQ $&RQWLQXH0RUELGLWHLWV5HJLVWUDWLH &05

(53) 1LMPHJHQ 6LQGVZRUGWGRRUGH&051LMPHJHQFRQWLQXKHWYyyUNRPHQYDQDDQGRHQLQJHQLQYLHU KXLVDUWVSUDNWLMNHQLQGHUHJLR1LMPHJHQJHUHJLVWUHHUG 9DQGH/LVGRQN

(54) 'HRPYDQJ YDQGHYLHU&05SUDNWLMNHQVDPHQ UXLPSHUVRQHQ

(55) LVRYHUGHMDUHQKHHQFRQVWDQW JHEOHYHQ'HSDWLsQWHQSRSXODWLHLVUHSUHVHQWDWLHIYRRUGH1HGHUODQGVHEHYRONLQJZDWEHWUHIW OHHIWLMGHQJHVODFKWPDDUQLHWYRRUXUEDQLVDWLHJUDDG$DQGRHQLQJHQZRUGHQJHFRGHHUG YROJHQVGH(OLMVWZDDURSRRNV\PSWRPHQJHUHODWHHUGDDQDVWPDHQ&23'ZRUGHQ JHUHJLVWUHHUG ELMYNRUWDGHPLJKHLG

(56) 9DQDIMDQXDULJHEHXUWGLWPEYGH,&+33& GHILQHGFULWHULD 

(57) (UZRUGWRQGHUVFKHLGJHPDDNWWXVVHQµQLHXZH¶HQµEHNHQGH¶JHYDOOHQ HQGXVNDQ]RZHOLQFLGHQWLHDOVSUHYDOHQWLHEHSDDOGZRUGHQ EHUHNHQGSHU SHUVRRQVMDUHQ

(58) 7UHQGVZRUGHQEHUHNHQGPHWEHKXOSYDQYRRUWVFKULMGHQGHJHPLGGHOGHQ DDQWDOJHYDOOHQLQKHWEHWUHIIHQGHSOXVGHWZHHYRRUJDDQGHMDUHQJHGHHOGGRRUGULH

(59)  *HUHJLVWUHHUGZRUGHQRDOHHIWLMGJHVODFKWEXUJHUOLMNHVWDDW]LHNWHYHU]HNHULQJHQEHURHS YDQGHNRVWZLQQHU*HJHYHQVRYHUHWQLFLWHLWHQRSOHLGLQJZRUGHQQLHWJHUHJLVWUHHUG %(HUVWH1DWLRQDOH6WXGLH QDDU=LHNWHQHQ9HUULFKWLQJHQLQGH+XLVDUWVSUDNWLMN

(60) ,QGH]HVWXGLH]LMQYDQDSULOWPPDDUWJHGXUHQGHYLHURSHHQYROJHQGHSHULRGHVYDQ GULHPDDQGHQDOOHSDWLsQWHQFRQWDFWHQYDQGHHOQHPHQGHKXLVDUWVHQJHUHJLVWUHHUG 9DQGHU 9HOGHQHWDO

(61) (UZHUGHHQJHVWUDWLILFHHUGHVWHHNSURHI QDDUUHJLRXUEDQLVDWLHJUDDGHQ NRUWVWHDIVWDQGWXVVHQSUDNWLMNDGUHVHQ]LHNHQKXLV

(62) JHWURNNHQYDQLQ1HGHUODQGJHYHVWLJGH KXLVDUWVHQHQKXLVDUWVSUDNWLMNHQ PHWZHUN]DPHKXLVDUWVHQ

(63) GHGHQPHH%LMGH]H SUDNWLMNHQZDUHQSHUVRQHQLQJHVFKUHYHQ “YDQGH1HGHUODQGVHEHYRONLQJ

(64)  $OOHGLDJQRVHVYDQFRQWDFWHQPHWHHQ]HOIGHSDWLsQWYRRUHHQ]HOIGHJH]RQGKHLGVSUREOHHP ]LMQJHFOXVWHUGWRWHHQ]RUJSHULRGHHQJHFRGHHUGYROJHQVGH,&3&YHUVLH /DPEHUWVHW DO9DQGHU%XUJHQ6FKHOOHYLV

(65) (UZHUGRQGHUVFKHLGJHPDDNWWXVVHQQLHXZHHQ EHNHQGHJHYDOOHQ%LMKHWEHUHNHQHQYDQLQFLGHQWLHVSHUGULHPDDQGHQZRUGWJHFRUULJHHUG YRRUGHZLM]HYDQVWHHNSURHIWUHNNLQJ'HFXPXODWLHYHMDDULQFLGHQWLHLVHHQYLHUYRXGYDQGH PDDQGVLQFLGHQWLH'HEHUHNHQGHPDDQGVSUHYDOHQWLHLVZDDUVFKLMQOLMNHHQ RQGHUVFKDWWLQJDDQJH]LHQQLHWDOOHSHUVRQHQPHWHHQEHNHQGHDDQGRHQLQJLQGHGULHPDDQGHQ KXQDUWV]XOOHQUDDGSOHJHQ9DQDOOHLQJHVFKUHYHQSHUVRQHQ]LMQOHHIWLMGHQJHVODFKWEHNHQG *HJHYHQVRYHURDKRRJVWYROWRRLGHRSOHLGLQJEXUJHUOLMNHVWDDWYHU]HNHULQJVYRUP.

(66) SDJYDQ. 5,90UDSSRUW. JHERRUWHODQGHQEHURHSVNODVVHZHUGHQYHUNUHJHQPHWHHQGRRUDOOHLQJHVFKUHYHQSDWLsQWHQ ]HOILQWHYXOOHQIRUPXOLHU UHVSRQV

(67)  &5HJLVWUDWLHQHW+XLVDUWVSUDNWLMNHQ/LPEXUJ 6LQGVPHLµYRHUHQGHHOQHPHQGHKXLVDUWVHQSHUGDJGHJHJHYHQVLQYDQGULH DWUDQGRP JHNR]HQ

(68) SDWLsQWHQZDDUPHH]LMGLHGDJFRQWDFWKHEEHQJHKDG*HJHYHQVYDQHHQPDDO LQJHYRHUGHSDWLsQWHQZRUGHQYHUYROJHQVEOLMYHQGELMJHZHUNW'HSRSXODWLHZRUGWJHYRUPG GRRUKXLVDUWVHQSUDNWLMNHQLQ/LPEXUJRSORSHQGYDQYLHULQWRW ZDDULQKXLVDUWVHQ ZHUN]DDP

(69) LQ,QVHSWHPEHUEHGURHJGHLQJHYRHUGHEDVLVSRSXODWLH SDWLsQWHQ$OOHUHOHYDQWHJH]RQGKHLGVSUREOHPHQ RDGLDJQRVHNODFKWHQDEQRUPDOH EHYLQGLQJHQULVLFRIDFWRUHQHQDQGHUHSUREOHPHQ

(70) GLHYDQHHQSDWLsQWLQGHORRSYDQGHWLMG EHNHQG]LMQZRUGHQJHUHJLVWUHHUGRSHHQµSUREOHHPOLMVW¶ 0HWVHPDNHUV

(71) $OOHHQ SHUPDQHQWHFKURQLVFKH GXXU!PDDQGHQ

(72) HQUHFLGLYHSUREOHPHQ UHFLGLHIYDNHUGDQ[ SHUPDDQGHQ

(73) ZRUGHQJHUHJLVWUHHUG(HQSUREOHHPZRUGWDOVDFWLHIEHVFKRXZGZDQQHHUKHW GHDDQGDFKWKHHIWYDQGHKXLVDUWVRISDWLsQW EOLMNHQGXLWRDGLDJQRVWLHNEHKDQGHOLQJRI JHUHJHOGHFRQWUROHV

(74) $OOHSUREOHPHQZRUGHQJHFODVVLILFHHUGYROJHQVGH,&3& UHFHQWHOLMN UHNHQLQJKRXGHQGPHW,&+33&GHILQHGFULWHULD

(75) 7RWGHMDDULQFLGHQWLHZRUGHQSUREOHPHQ JHUHNHQGGLHLQKHWEHWUHIIHQGHMDDUDOVQLHXZHQDFWLHIJHUHJLVWUHHUG]LMQ2PYHUJHOLMNEDUH SUHYDOHQWLHFLMIHUVWHNULMJHQPHWDQGHUHKXLVDUWVHQUHJLVWUDWLHV]RXGHQVOHFKWVGHDFWLHYH JHYDOOHQPHHJHQRPHQPRHWHQZRUGHQ*HUHJLVWUHHUGZRUGHQRDJHVODFKWOHHIWLMG JHERRUWHSODDWVEXUJHUOLMNHVWDDWSRVWFRGHYHU]HNHULQJVYRUPHQRSOHLGLQJ ELMSHUVRQHQYDQ HQRXGHU

(76) 6LQGVZRUGWGHJHERRUWHSODDWVQLHWPHHUHQGHRSOHLGLQJVOHFKWVRSWLRQHHO JHUHJLVWUHHUG9RRUGLHWLMGZHUGHQSHUVRQHQQLHWJHUHJLVWUHHUGLQGLHQGH]HJHJHYHQVQLHW EHVFKLNEDDUZDUHQ*HJHYHQVRYHUEHURHSHQHWQLFLWHLWZRUGHQQLHWJHUHJLVWUHHUG '7UDQVLWLHSURMHFW ,QGLWSURMHFW]LMQGRRUKXLVDUWVHQLQKXLVDUWVSUDNWLMNHQYHUVSUHLGRYHU1HGHUODQGVLQGV DOOHSDWLsQWHQFRQWDFWHQJHUHJLVWUHHUGJHGXUHQGHWHQPLQVWHMDDU /DPEHUWV

(77) ,Q WRWDDOEHVWRQGGHRQGHU]RHNVSRSXODWLHXLWFDLQJHVFKUHYHQSDWLsQWHQ  SHUVRRQVMDUHQ

(78) +HWWRWDDOYDQGH]HJHJHYHQVZRUGWKHWUHIHUHQWLHEHVWDQGJHQRHPG+HW YLHUMDDUVEHVWDQGPDDNWKLHUYDQRQGHUGHHOXLWHQEHYDWGHJHJHYHQVYDQKXLVDUWVSUDNWLMNHQ SDWLsQWHQSHUSHUVRRQVMDUHQ

(79) ZDDULQJHGXUHQGHYLHUDDQHHQVOXLWHQGHMDUHQZHUG JHUHJLVWUHHUG'HSRSXODWLHLVHHQJRHGHDIVSLHJHOLQJYDQGHEHYRONLQJLQ1HGHUODQGLQ WHUPHQYDQOHHIWLMGJHVODFKWHQVRFLDDOHFRQRPLVFKHVWDWXVPDDUQLHWLQWHUPHQYDQ XUEDQLVDWLHJUDDG1HWDOVLQGH(HUVW1DWLRQDOH6WXGLHZHUGHQ]RUJSHULRGHVJHUHJLVWUHHUGHQ ZHUGHQGH]HJHFRGHHUGYROJHQVGH,&3& UHNHQLQJKRXGHQGPHW,&+33&GHILQHG FULWHULD

(80) =RZHOLQFLGHQWLHVDOVSUHYDOHQWLHVNXQQHQEHUHNHQGZRUGHQZDDUELMGHSUHYDOHQWLH YDQFKURQLVFKH]LHNWHQPRJHOLMNRQGHUVFKDWZRUGHQDDQJH]LHQRXGHHSLVRGHQDOOHHQZRUGHQ JHUHJLVWUHHUGZDQQHHU]LMWLMGHQVGHUHJLVWUDWLHSHULRGHWRWGLUHFWDUWVSDWLsQWFRQWDFWOHLGHQ *HUHJLVWUHHUG]LMQRDOHHIWLMGJHVODFKWJH]LQVYRUPHQYHU]HNHULQJVYRUP(WQLFLWHLW RSOHLGLQJHQEHURHSZRUGHQQLHWJHUHJLVWUHHUG.  (SLGHPLRORJLVFKHSRSXODWLHVWXGLHVELMYROZDVVHQHQ $+HW(XURSHHV/XFKWZHJ2QGHU]RHN1HGHUODQG (/21

(81) +HW(XURSHHV/XFKWZHJ2QGHU]RHN1HGHUODQG (/21

(82) ZHUGXLWJHYRHUGLQ .HUNKRI HWDO5LMFNHQHWDO

(83) LQKHWNDGHUYDQHHQ(XURSHHVOXFKWZHJRQGHU]RHN (XURSHDQ&RPPXQLW\5HVSLUDWRU\+HDOWK6XUYH\%XUQH\HWDO

(84) *HJHYHQVPHW EHWUHNNLQJWRWOXFKWZHJDDQGRHQLQJHQZHUGHQYHU]DPHOGELMPDQQHQHQYURXZHQYDQ MDDUXLWGULHUHJLR¶VLQ1HGHUODQG :HVWHOLMN1RRUG%UDEDQWGH:HVWHOLMNH0LMQVWUHHNHQ *URQLQJHQ

(85) (HUVWZHUGHHQNRUWHSRVWHQTXrWHPHWHHQEHSHUNWDDQWDOYUDJHQRYHU.

(86) SDJYDQ. 5,90UDSSRUW. OXFKWZHJNODFKWHQJHKRXGHQRQGHUHHQQDDUOHHIWLMGHQJHVODFKWJHVWUDWLILFHHUGHVWHHNSURHI 'H]HVWHHNSURHIZHUGJHWURNNHQXLWEHYRONLQJVUHJLVWHUVYDQJHPHHQWHQELQQHQGHUHJLR¶V %LMQDSHUVRQHQQDPHQGHHODDQGH]HHHUVWHIDVH UHVSRQV

(87) 9HUYROJHQVZHUGHHQ UDQGRPVWHHNSURHIYDQSHUVRQHQXLWGHHHUVWHIDVH Q 

(88) XLWJHQRGLJGYRRUHHQ OLFKDPHOLMNRQGHU]RHN5XLPSHUVRQHQZHUGHQRQGHU]RFKWLQGH]HWZHHGHIDVHYDQKHW RQGHU]RHN UHVSRQV

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

(90) +HW025*(1SURMHFWKDGDOVGRHOVWHOOLQJµKHWYDVWVWHOOHQYDQGHSUHYDOHQWLHYDQ ULVLFRIDFWRUHQYRRU

(91) FKURQLVFKH]LHNWHQHQYHUDQGHULQJHQGDDULQRYHUGHWLMGLQGH 1HGHUODQGVHEHYRONLQJ¶'HVWXGLHZHUGWXVVHQHQXLWJHYRHUG 5XLP PDQQHQHQYURXZHQYDQMDDUXLW$PVWHUGDP'RHWLQFKHPHQ0DDVWULFKWZHUGHQ XLWJHQRGLJGYRRUKHWRQGHU]RHN,Q$PVWHUGDPHQ0DDVWULFKWZHUGHONMDDUHHQQLHXZH VWHHNSURHIJHWURNNHQYDQMDULJHQWHUZLMOLQ'RHWLQFKHPGHHOQHPHUVDDQHHQRQGHU]RHN QDDUKHWYyyUNRPHQYDQKDUWHQYDDW]LHNWHQ 3HLOVWDWLRQVSURMHFW+DUWHQYDDW]LHNWHQ 

(92) QDMDDUZHUGHQKHUEHQDGHUG,QWRWDDOZHUGHQSHUVRQHQLQ$PVWHUGDP 'RHWLQFKHPHQ0DDVWULFKW UHVSRQV

(93) RQGHU]RFKWPHWEHKXOSYDQHHQVFKULIWHOLMNH YUDJHQOLMVWHQHHQOLFKDPHOLMNRQGHU]RHN'HJHJHYHQVRYHUV\PSWRPHQYDQDVWPDHQ&23' ZHUGHQYHU]DPHOGPHWEHKXOSYDQHHQYHUNRUWHYHUVLHYDQGH(/21YUDJHQOLMVW7LMGHQVKHW OLFKDPHOLMNRQGHU]RHNZHUGHQYDQDIORQJIXQFWLHPHWLQJHQXLWJHYRHUGPHWHHQ SQHXPRWDFKRJUDDI -DHJHU

(94) ,QHHQUDQGRPVWHHNSURHIYDQGHHOQHPHUVLQWP JHVWUDWLILFHHUGQDDUOHHIWLMGHQJHVODFKWZHUGHQEHSDOLQJHQJHGDDQYDQWRWDDOHQ VSHFLILHN,J(WHJHQKXLVVWRIPLMWNDWERRPSROOHQJUDVSROOHQHQVFKLPPHOV9DQGHWRWDOH RQGHU]RHNVSRSXODWLH]LMQJHJHYHQVEHNHQGRYHUOHHIWLMGJHVODFKWLQGLFDWRUHQYDQVRFLDDO HFRQRPLVFKHVWDWXV]RDOVRSOHLGLQJVQLYHDXHQEHURHSQDWLRQDOLWHLWHQSRVWFRGH . &+HWSURMHFW'HWHFWLRQ,QWHUYHQWLRQDQG0RQLWRULQJRI&23'DQG$VWKPD ',0&$SURMHFW

(95) +HW',0&$SURMHFWLVRSJH]HWRPRQGHUGLDJQRVWLHNYDQDVWPDHQ&23'LQNDDUWWHEUHQJHQ HQRPLQHHQYURHJVWDGLXPSHUVRQHQPHWNOLQLVFKHNHQPHUNHQYDQDVWPDRI&23'RSWH VSRUHQ 9DQGHQ%RRPHWDO

(96) (UZHUGHHQVWHHNSURHIJHWURNNHQYDQLQJHVFKUHYHQHQ YDQMDDUELMKXLVDUWVHQUHJLVWUDWLHVLQGHUHJLR1LMPHJHQLQ 1 

(97) ,QWRWDDO YROGHGHQSHUVRQHQQLHWDDQGHLQFOXVLHFULWHULDYRRUKHWRQGHU]RHNZDDUYDQRPGDW]LM ELMGHKXLVDUWVEHNHQGZDUHQDOVDVWPDRI&23'SDWLsQW'HUHVWHUHQGHSHUVRQHQZHUGHQ XLWJHQRGLJGYRRUHHQVFUHHQLQJVRQGHU]RHNZDDUELMJHJHYHQVRYHUGHDDQZH]LJKHLGYDQ OXFKWZHJV\PSWRPHQHQDOOHUJLHZHUGHQYHU]DPHOGPHWEHKXOSYDQYUDJHQOLMVWHQ9HUGHU ZHUGGHORQJIXQFWLH )9&HQ)(9

(98) HQUHYHUVLELOLWHLWYDQOXFKWZHJREVWUXFWLHJHPHWHQ$DQ KHWVFUHHQLQJVRQGHU]RHNQDPHQSHUVRQHQGHHO UHVSRQV

(99) 3HUVRQHQPHW DDQZLM]LQJHQYRRUDVWPDRI&23'ZHUGHQYHUYROJHQVJHGXUHQGHMDDUYHUGHUJHYROJGPHW DOVGRHORQGHUVFKHLGPDNHQWXVVHQSHUVRQHQGLHHFKWDVWPDRI&23'KDGGHQHQ]RJHQDDPGH IRXWSRVLWLHYHQ 'HYRRUORSHUYDQKHW',0&$SURMHFWGDWLQZHUGXLWJHYRHUGYRQGSODDWVRQGHU YROZDVVHQHQLQGHOHHIWLMGMDDUGLHLQJHVFKUHYHQZDUHQELMppQKXLVDUWVHQSUDNWLMN.

(100) SDJYDQ. 5,90UDSSRUW. LQGHUHJLR1LMPHJHQ 7LULPDQQDHWDOYDQ6FKD\FNHWDO

(101) 2PWHRQGHU]RHNHQ RIHHQVWLMJHQGHWUHQGLQDVWPDHQ&23'WRHWHVFKULMYHQLVDDQYHUDQGHULQJYDQ GLDJQRVWLVFKHFULWHULDYRRUDVWPD&23'RIDDQZHUNHOLMNHWRHQDPHYDQGHDDQGRHQLQJHQ ZHUGHQGHJHJHYHQVYDQGHVFUHHQLQJLQKHW',0&$SURMHFWYHUJHOHNHQPHWGHUHVXOWDWHQYDQ GHHHUGHUHVWXGLH2RNZHUGLQEHLGHSURMHFWHQHUQVWJUDGHQYDQ&$5$EHUHNHQG YDULsUHQG YDQ]HHUOLFKWHWRWGXLGHOLMNHDDQZLM]LQJHQYRRU&$5$

(102) %LMKHWEHUHNHQHQYDQHUQVWJUDGHQ ZHUGJHHQRQGHUVFKHLGJHPDDNWWXVVHQDVWPDHQ&23'DDQJH]LHQGLWLQKHWHHUVWHRQGHU]RHN LQQRJQLHWJHEUXLNHOLMNZDV.  (SLGHPLRORJLVFKHSRSXODWLHVWXGLHVELMNLQGHUHQ 9RRUKHWEHVFKULMYHQYDQKHWYyyUNRPHQYDQDVWPDELMNLQGHUHQLVJHEUXLNJHPDDNWYDQHHQ VHOHFWLHYDQKHWUHODWLHIJURWHDDQWDOSRSXODWLHVWXGLHVXLWJHYRHUGELMNLQGHUHQ(UZHUG JHNR]HQYRRUGHVWXGLHYDQ-DQVVHQHWDO 

(103) YDQZHJHGHODQGHOLMNHVSUHLGLQJZDDUGRRU KHWPRJHOLMNLVRPUHJLRQDOHYHUVFKLOOHQLQSUHYDOHQWLHWHEHVWXGHUHQ9HUGHUZHUGHQGH VWXGLHVYDQ9DQGHU:DOHQ5LMFNHQ 

(104) HQ9DQGH:DOHWDO 

(105) JHVHOHFWHHUGRPGDW GHVWXGLHVSUHYDOHQWLHFLMIHUVYHUVFKDIIHQRYHUDXWRFKWRQHHQDOORFKWRQHNLQGHUHQHQRPGDWHU RRNNLQGHUHQMRQJHUGDQMDDULQKHWRQGHU]RHN]LMQRSJHQRPHQ7HQVORWWHZHUGHQJHJHYHQV JHEUXLNWYDQGH,6$$&,,VWXGLH $DUWVHWDO9DQ9OLHWHWDO'H0HHU

(106)  RPGDWGH]HHHQXLWJHEUHLGHPHGLVFKHNDUDNWHULVHULQJYDQGHRQGHU]RHNVSRSXODWLHRPYDW %RYHQGLHQLVKHWRQGHU]RHNXLWJHYRHUGPHWEHKXOSYDQHHQLQWHUQDWLRQDDOJHVWDQGDDUGLVHHUG SURWRFRO]RGDWLQWHUQDWLRQDOHYHUJHOLMNLQJYDQSUHYDOHQWLHFLMIHUVPRJHOLMNLV+LHURQGHUYROJW HHQNRUWHEHVFKULMYLQJYDQGHGULHVWXGLHV $6WXGLHRQGHUEDVLVVFKRRONLQGHUHQLQUHJLR¶V -DQVVHQHWDO

(107) +HWGRHOYDQGLWRQGHU]RHNZDVKHWYDVWVWHOOHQYDQGHSUHYDOHQWLHYDQOXFKWZHJNODFKWHQELM EDVLVVFKRRONLQGHUHQLQ1HGHUODQGLQHHQODQGHOLMNHVWHHNSURHIYDQEDVLVVFKROHQ+HW RQGHU]RHNYRQGLQSODDWVELMNLQGHUHQLQGHOHHIWLMGYDQWPMDDU,QGHDQDO\VHV]LMQ EDVLVVFKROHQEHWURNNHQGLHYHUGHHOGZDUHQRYHUUHJLR¶VGHSURYLQFLHVHQ $PVWHUGDP5RWWHUGDPHQ'HQ+DDJ'HUHVSRQVYDQKHWRQGHU]RHNZDV'HJHJHYHQV ZHUGHQYHU]DPHOGPHWEHKXOSYDQHHQVFKULIWHOLMNHYUDJHQOLMVWGLHGRRUGHRXGHUVRI YHU]RUJHUVZHUGLQJHYXOG'HYUDJHQOLMVWEHYDWWHHHQFRPELQDWLHYDQYUDJHQXLWGHWZHH JHYDOLGHHUGHVWDQGDDUGYUDJHQOLMVWHQQOGH5HJLROLMVW 9HUNHUNHWDO

(108) HQGH:+2 YUDJHQOLMVW $NNHUPDQHWDODHQE

(109) $IJH]LHQYDQGHYUDJHQRYHUUHVSLUDWRLUH V\PSWRPHQZHUGHQLQKHWRQGHU]RHNPHWQDPHJHJHYHQVYHU]DPHOGRYHUOHHIWLMGJHVODFKW HQUHJLR*HJHYHQVRYHUVRFLDDOHFRQRPLVFKHVWDWXVHQHWQLFLWHLWZHUGHQQLHWYHU]DPHOG %6WXGLHRQGHUDOORFKWRQHHQDXWRFKWRQHNLQGHUHQ 9DQGHU:DOHQ5LMFNHQ

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

(111) (UZHUGHHQVHOHFWLHJHPDDNWYDQYUDJHQGLHRS DVWPDWLVFKHV\PSWRPHQEHWUHNNLQJKHEEHQQONRUWDGHPLJKHLGHQSLHSHQRSGHERUVW &KURQLVFKKRHVWHQZHUGRPGLHUHGHQQLHWQDJHYUDDJG%HKDOYHJHJHYHQVRYHUUHVSLUDWRLUH V\PSWRPHQZHUGHQRRNJHJHYHQVYHU]DPHOGRYHUJHVODFKWHWQLFLWHLWRSOHLGLQJVQLYHDXYDQ.

(112) 5,90UDSSRUW. SDJYDQ. GHPRHGHUHQJH]LQVJURRWWH5HFHQWLVGLWRQGHU]RHNKHUKDDOG]RGDWLQKHWKXLGLJHUDSSRUW KLHUYDQHHQDFWXDOLVHULQJJHJHYHQNDQZRUGHQ YDQGHU:DOHWDO

(113)  &,6$$&,,VWXGLHVELMEDVLVVFKRRONLQGHUHQ 'HSULPDLUHGRHOVWHOOLQJYDQ,6$$&,,VWXGLHVLVKHWYHU]DPHOHQYDQLQWHUQDWLRQDOHJHJHYHQV RYHUGHSUHYDOHQWLHYDQDVWPDV\PSWRPHQHQOLFKDPHOLMNHNHQPHUNHQYDQDVWPDYROJHQV JHVWDQGDDUGLVHHUGHSURWRFROOHQ,Q1HGHUODQGZHUGGH,6$$&,,VWXGLHJHNRSSHOGDDQ RQGHU]RHNQDDUWZHHDI]RQGHUOLMNHYUDDJVWHOOLQJHQQOGHUHVSLUDWRLUHJH]RQGKHLGLQUHODWLH WRWKHWZRQHQURQGRP6FKLSKRO 9DQ9OLHWHWDO

(114) HQGHUHVSLUDWRLUHJH]RQGKHLGLQ UHODWLHWRWKHWZRQHQGLFKWELMGUXNNHVQHOZHJHQ $DUWVHWDO

(115) (UZHUGJHEUXLNJHPDDNW YDQLQWHUQDWLRQDOHVWDQGDDUGSURWRFROOHQHUZHUGHHQYUDJHQOLMVWDIJHQRPHQPEW OXFKWZHJV\PSWRPHQGDDUQDDVWZHUGEORHGDIJHQRPHQHQHUZHUGHHQORQJIXQFWLHPHWLQJHHQ KXLGWHVWHQHHQEURQFKRSURYRFDWLHWHVWXLWJHYRHUG,QKHWVHUXPZHUGWRWDDO,J(EHSDDOGHQHU ZHUGHHQPXOWLVSHFLILHNH3KDGLDWRSWHVWJHGDDQ:DQQHHUGH3KDGLDWRSWHVWSRVLWLHIZDV ZHUGGRRUJHWHVWRSVSHFLILHN,J(WHJHQKRQGNDWKXLVVWRIPLMWVFKLPPHOVHQJUDVVHQ,QGH KXLGWHVWZHUGJHWHVWRSVHQVLELOLVDWLHYRRUKRQGNDWKXLVVWRIPLMW 'SWHURQ\VVLQXV' IDULQDH

(116) VFKLPPHOV $OWHUQDULDDOWHUQDWD

(117) JUDVVHQHQERRPSROOHQ'HWZHHRQGHU]RHNHQ YRQGHQSODDWVELMLQWRWDDORQJHYHHUNLQGHUHQYDQWPMDDUDINRPVWLJYDQLQWRWDDO EDVLVVFKROHQ'HUHVSRQVRSKHWYUDJHQOLMVWGHHOYDQGHRQGHU]RHNHQZDV%LM RQGHUGHOHQYDQKHWOLFKDPHOLMNRQGHU]RHNZDVGHUHVSRQVZDWODJHU 

(118) .  0RJHOLMNKHGHQHQEHSHUNLQJHQYDQGHJHJHYHQVEURQQHQ ,QKHWLQYHQWDULVHUHQGHUDSSRUW 6PLWHQ%HDXPRQW

(119) ZHUGHHQXLWJHEUHLGHDQDO\VH JHJHYHQYDQGHPRJHOLMNKHGHQHQEHSHUNLQJHQYDQEHVFKLNEDUHKXLVDUWVHQUHJLVWUDWLHVHQ HSLGHPLRORJLVFKHSRSXODWLHVWXGLHV2SJURQGYDQGHPRJHOLMNKHGHQHQEHSHUNLQJHQZRUGW DDQJHJHYHQZHONHJHJHYHQVEURQQHQXLWHLQGHOLMN]LMQJHEUXLNWHQZHONHOHHPWHVLQNHQQLVLQ KHWKXLGLJHUDSSRUWJHYXOGZRUGHQGRRUVHFXQGDLUHDQDO\VHV.  %HWURXZEDDUKHLG 9ROOHGLJKHLG ,QKXLVDUWVHQUHJLVWUDWLH]LMQYHUVFKLOOHQLQFRQVXOW]RHNHQGJHGUDJYDQSDWLsQWHQHQYHUVFKLOOHQ LQGLDJQRVWLVFKHFULWHULDYDQGHKXLVDUWVHQGHEHODQJULMNVWHRRU]DNHQYDQPRJHOLMNH YHUWHNHQLQJLQKHWDDQWDOJHUHJLVWUHHUGHSDWLsQWHQPHWDVWPDHQ&23' 9DQGH%RRPHW DOE.ROQDDUHWDO

(120) +HW',0&$SURMHFWODDW]LHQGDWRQGHUSUHVHQWDWLHHHQ EHODQJULMNHURRU]DDNLVGDQRQGHUGLDJQRVWLHN 'HQ2WWHUHWDO

(121) %LMHSLGHPLRORJLVFKH SRSXODWLHVWXGLHVLVHHQHYHQWXHHOVHOHFWLHYHGHHOQDPHDDQGHVWXGLHGHYRRUQDDPVWHRRU]DDN YDQYHUWHNHQLQJ *HQHUDOLVHHUEDDUKHLG 'H1DWLRQDOH6WXGLHRQGHUKXLVDUWVHQSUDNWLMNHQHQGHVWXGLHYDQ-DQVVHQHWDO 

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

(123) SDJYDQ. 5,90UDSSRUW. SRSXODWLHVWXGLHVHHQLQIRUPDWLHIEHHOGNXQQHQYHUVFKDIIHQLQKHWYRRUNRPHQYDQDVWPDHQ &23'.  ,QFLGHQWLHSUHYDOHQWLHWUHQGV 'HLQFLGHQWLHYDQDVWPDHQ&23'LVJHEDVHHUGRSDOOHKXLVDUWVHQUHJLVWUDWLHV &05 1LMPHJHQGHHHUVWH1DWLRQDOH6WXGLH5HJLVWUDWLHQHWZHUN+XLVDUWVHQUHJLVWUDWLHVHQKHW 7UDQVLWLHSURMHFW

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

(125)  3UHYDOHQWLHFLMIHUV]LMQJHEDVHHUGRSDOOHHSLGHPLRORJLVFKHSRSXODWLHVWXGLHVHQRSGULHYDQGH YLHUKXLVDUWVHQUHJLVWUDWLHVQOGH&051LMPHJHQKHW7UDQVLWLHSURMHFWHQKHW5HJLVWUDWLHQHW +XLVDUWVHQSUDNWLMNHQ DOOHHQ&23'

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

(127) HQ RYHUHHQWUHQGRYHUGHSHULRGHLQDVWPDELMNLQGHUHQRSEDVLVYDQHHQPHWD DQDO\VHYDQYHUVFKLOOHQGH1HGHUODQGVHVWXGLHV SDUDJUDDI

(128) .  2QGHUVFKHLGWXVVHQDVWPDHQ&23'HQHUQVWJUDGHQGDDULQ 2QGHUVFKHLGWXVVHQDVWPDHQ&23' ,QKXLVDUWVHQUHJLVWUDWLHVZRUGHQDVWPDHQ&23'DI]RQGHUOLMNJHUHJLVWUHHUGRSEDVLVYDQ XQLIRUPHULFKWOLMQHQYRRUKHWRQGHUVFKHLG]RGDWRRNDI]RQGHUOLMNHFLMIHUVRYHUDVWPDHQ &23'EHVFKLNEDDU]LMQ+HWGLIIHUHQWLsUHQYDQDVWPDHQ&23'LVRSNOLQLVFKHJURQGHQ HFKWHUYHHODOSUREOHPDWLVFKGRRUGDWHUHHQJURWHRYHUODSLVLQV\PSWRPHQHQNOLQLVFKHHQ I\VLRORJLVFKHNHQPHUNHQ'HSUREOHPHQGLH]LFKYRRUGRHQELMKHWGLIIHUHQWLsUHQWXVVHQDVWPD HQ&23'YHUVFKLOOHQSHUOHHIWLMGVJURHS  NLQGHUHQMRQJHUGDQMDDUKHEEHQYDDNDVWPDWLVFKHNODFKWHQGLHYDQ]HOIZHHU YHUGZLMQHQ=RODQJEHWURXZEDUHPHWKRGHQYRRUYURHJGLDJQRVWLHNRQWEUHNHQLVGH NDQVRSRQGHUHQRYHUGLDJQRVHJURRW  ELMNLQGHUHQYDQWRWMDDUNRPWFKURQLVFKKRHVWHQYDDNYRRU]RQGHUGDWHU ZHUNHOLMNVSUDNHLVYDQDVWPD PRJHOLMNHRYHUGLDJQRVH

(129) .

(130) SDJYDQ. 5,90UDSSRUW. . . MRQJYROZDVVHQHQ URQGMDDU

(131) ZRUGHQUHODWLHIZHLQLJJH]LHQPRJHOLMNGRRUGDW NLQGHUHQRSGH]HOHHIWLMGHHQODQJHV\PSWRRPYULMHSHULRGHGRRUPDNHQZDDUGRRUJHHQ KXLVDUWVFRQVXOWQRGLJLV:DQQHHUYHUVFKLMQVHOHQ]LFKGDDUQDRSQLHXZYRRUGRHQNDQ GLWOHLGHQWRWHHQµQLHXZH¶GLDJQRVHYDQDVWPD ELMYROZDVVHQHQLQGHOHHIWLMGERYHQMDDUNRPHQDVWPDHQ&23'YDDNJHOLMNWLMGLJ YRRUPHGHWHQJHYROJHYDQURRNJHZRRQWHQ. 0HWGH]HOHHIWLMGVJHERQGHQYHUVFKLOOHQPRHWUHNHQLQJZRUGHQJHKRXGHQELMGHLQWHUSUHWDWLH YDQHYHQWXHOHYHUVFKLOOHQWXVVHQFLMIHUVRYHUDVWPDHQ&23'LQGHKXLVDUWVHQUHJLVWUDWLHV+HW OLJWLQGHOLMQGHUYHUZDFKWLQJGDWGHWRHSDVVLQJYDQ1+*VWDQGDDUGHQ *HLMHUHWDOD HQE

(132) HQLQWHUQDWLRQDOHULFKWOLMQHQYRRUGLDJQRVWLHNHQFODVVLILFDWLHYDQDVWPDHQ&23'HHQ YHUGHUJDDQGHVWDQGDDUGLVDWLHYDQUHJLVWUDWLHPRJHOLMN]XOOHQPDNHQ *,1$([HFXWLYH &RPPLWWHH*OREDO6WUDWHJ\IRUWKH'LDJQRVLV0DQDJHPHQWDQG3UHYHQWLRQRI&KURQLF 2EVWUXFWLYH3XOPRQDU\'LVHDVH

(133)  ,QHSLGHPLRORJLVFKHSRSXODWLHVWXGLHVZRUGW]HOGHQHHQGLDJQRVHµDVWPD¶RIµ&23'¶JHVWHOG 0HHVWDOZRUGHQXLWVOXLWHQGGHDI]RQGHUOLMNHNHQPHUNHQYDQDVWPDHQ&23'JHSUHVHQWHHUG 'HPHQLQJHQORSHQXLWHHQRYHUGHPRJHOLMNKHLGRPHHQGLDJQRVHWHVWHOOHQRSEDVLVYDQHHQ FRPELQDWLHYDQGH]HNHQPHUNHQ %XUQH\5LMFNHQHWDO:RROFRFN6DPHW 7RsOOHHWDO

(134) (QHU]LMGVNDQZRUGHQEHDUJXPHQWHHUGGDWKHWPDNHQYDQHHQ RQGHUVFKHLGWXVVHQDVWPDHQ&23'RSEDVLVYDQJHVWDQGDDUGLVHHUGYHU]DPHOGHJHJHYHQV GXV]RQGHUGDWGHSHUVRQHQGRRUHHQDUWV]LMQJH]LHQ

(135) VOHFKWVHHQVFKLMQGHWDLOOHULQJLVHQGDW GH]HRQGHUKHYLJLVDDQPLVFODVVLILFDWLH$QGHU]LMGVNDQZRUGHQJHVWHOGGDWGHSUHVHQWDWLH YDQGHDI]RQGHUOLMNHNHQPHUNHQJHHQHHQGXLGLJEHHOGJHHIWYDQGHSUREOHPDWLHNYDQDVWPD HQ&23'(HQFRPELQDWLHYDQDI]RQGHUOLMNHNHQPHUNHQ ELMYRRUEHHOGV\PSWRPHQHQ OXFKWZHJREVWUXFWLH

(136) NDQGHGLDJQRVHDVWPDHQ&23'ZHOGLFKWHUEHQDGHUHQHQJHHIWPHHU GXLGHOLMNKHLGRYHUNOLQLVFKHUHOHYDQWLHYDQGHSUHYDOHQWLH*HJHYHQVRYHUGHUJHOLMNH FRPELQDWLHVYDQNHQPHUNHQZDUHQLQGHLQYHQWDULVHUHQGHUDSSRUWDJHQRJQLHWEHVFKLNEDDU 2SEDVLVYDQVHFXQGDLUHDQDO\VHVYDQKHW(/21RQGHU]RHN .HUNKRI

(137) HQGH,6$$&,, VWXGLH 'H0HHU

(138) ]LMQGH]HJHJHYHQVELMUHVSHFWLHYHOLMNYROZDVVHQHQHQNLQGHUHQ EHVFKLNEDDUJHNRPHQ SDUDJUDIHQWPHQ

(139)  2QGHUVFKHLGLQHUQVWJUDGHQ +XLVDUWVHQUHJLVWUDWLHVUHJLVWUHUHQJHHQJHJHYHQVRYHUGHSUHYDOHQWLHHQLQFLGHQWLHYDQ DVWPDHQ&23'QDDUHUQVWJUDDG,QGHKXLGLJHSUDNWLMNLVKHWQRJQLHWDOWLMGPRJHOLMNRPGH LQWHUQDWLRQDOHULFKWOLMQHQYRRUKHWRQGHUVFKHLGHQYDQHUQVWJUDGHQWRHWHSDVVHQPRJHOLMN GDDURPLVGHµHUQVWJUDDG¶YDQDVWPDHQ&23'QLHWRSJHQRPHQDOVUHJLVWUDWLHNHQPHUN 5HFHQW]LMQQLHXZHULFKWOLMQHQJHJHYHQYRRUGHFODVVLILFDWLHYDQGHHUQVWYDQ&23' *OREDO ,QLWLDWLYHIRU&KURQLF2EVWUXFWLYH/XQJ'LVHDVH WKH*2/':RUNVKRS3DQHO

(140) 'DDULQ ZRUGHQHUQVWJUDGHQRQGHUVFKHLGHQ 6WDGLXP $WULVN 0LOGH&23'. .HQPHUN QRUPDOHVSLURPHWULHLQDDQZH]LJKHLGYDQFKURQLVFKHV\PSWRPHQ  KRHVWHQVOLMPRSJHYHQ

(141) )(9 )9& )(9 ˜YRRUVSHOG PHWRI]RQGHUFKURQLVFKHV\PSWRPHQ KRHVWVOLMPRSJHYHQ

(142) )(9 )9& ˆ)(9 YRRUVSHOG PHWRI]RQGHUFKURQLVFKHV\PSWRPHQ KRHVWVOLMPRSJHYHQ

(143)  . 0DWLJH&23'. . .

(144) SDJYDQ. 5,90UDSSRUW. (UQVWLJH&23'. )(9 )9& )(9 YRRUVSHOGRI)(9 YRRUVSHOGSOXVUHVSLUDWRU\ IDLOXUHRINOLQLVFKHWHNHQHQYDQKDUWIDOHQ  . . 'DDUELMGXLGHQ)(9 ZDDUGHQRSZDDUGHQQiWRHSDVVLQJYDQOXFKWZHJYHUZLMGHUV . *HJHYHQVRYHUHUQVWJUDDGYROJHQVGH*2/'FULWHULDNXQQHQPRPHQWHHOQRJQLHWXLW HSLGHPLRORJLVFKHSRSXODWLHVWXGLHVZRUGHQDIJHOHLG,QKHW',0&$SURMHFW]LMQJHJHYHQV RYHUµHUQVWJUDDG¶JHUHJLVWUHHUGGLHNXQQHQZRUGHQJHEUXLNWRPLQ]LFKWWHYHUNULMJHQLQGH SUHYDOHQWLHYDQHUQVWLJHYHUVXVPLQGHUHUQVWLJHYRUPHQYDQ&KURQLVFKH$VSHFLILHNH 5HVSLUDWRLUH$DQGRHQLQJHQ LQGHVWXGLHZHUGGHVWLMGVJHHQRQGHUVFKHLGJHPDDNWWXVVHQ DVWPDHQ&23'

(145) *HSRRJGLVRPGHSUHYDOHQWLHYDQ&$5$HUQVWJUDGHQWHDQDO\VHUHQQDDU OHHIWLMGHQJHVODFKW'LWEOHHNHFKWHUQLHWPRJHOLMNGRRUGDWJHJHYHQVRYHUOHHIWLMGHQJHVODFKW RQWEUDNHQYDQGHSUHYDOHQWH&$5$JHYDOOHQGLHUHHGVGRRUGHKXLVDUWVZDUHQ JHGLDJQRVWLFHHUG $OEHUV

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

(147)  *HJHYHQVRYHUVRFLDDOHFRQRPLVFKHVWDWXV RSOHLGLQJ

(148) LQUHODWLHWRWHHQKXLVDUWVHQGLDJQRVH DVWPDRI&23']LMQJHEDVHHUGRSJHJHYHQVYDQGH&051LMPHJHQKHW51+HQGH 1DWLRQDOH6WXGLH*HJHYHQVRYHUVRFLDDOHFRQRPLVFKHVWDWXVLQGHHSLGHPLRORJLVFKH SRSXODWLHVWXGLHVZDUHQLQGHLQYHQWDULVHUHQGHUDSSRUWDJHEHSHUNWEHVFKLNEDDU(UZHUGHQ DDQYXOOHQGHDQDO\VHVYHUULFKWLQKHW025*(1SURMHFW 7DEDNHQ6PLW

(149) HQLQGH ,6$$&,,VWXGLH 'H0HHU

(150) QDDUGHUHODWLHWXVVHQRSOHLGLQJVQLYHDXHQNHQPHUNHQYDQ DVWPDHQ&23'ELMYROZDVVHQHQHQNLQGHUHQ UHVSSDUDJUDIHQHQ

(151)  *HJHYHQVRYHUUHJLRQDOHVSUHLGLQJ]LMQYHUNUHJHQXLWGHHHUVWH1DWLRQDOH6WXGLH KXLVDUWVHQUHJLVWUDWLH

(152) HQXLWGHHSLGHPLRORJLVFKHSRSXODWLHVWXGLHRQGHUNLQGHUHQYDQ-DQVVHQ HWDO 

(153) 'HKXLVDUWVHQUHJLVWUDWLHV&051LMPHJHQ51+HQKHW7UDQVLWLHSURMHFWZRUGHQ LQppQUHJLRXLWJHYRHUGHQJHYHQGDDURPJHHQLQ]LFKWLQUHJLRQDOHVSUHLGLQJ+HW(/21HQ KHW025*(1SURMHFWSRSXODWLHVWXGLHVRQGHUYROZDVVHQHQGHNWHQWHVDPHQ]HVUHJLR¶VHQ JHYHQGDDUPHHLQEHSHUNWHPDWHHHQEHHOGRYHUUHJLRQDOHVSUHLGLQJ *HJHYHQVRYHUHWQLFLWHLW]LMQEHVFKLNEDDULQGH(HUVWH1DWLRQDOH6WXGLH,QKHWKXLGLJHUDSSRUW ]LMQGHUHVXOWDWHQZHHUJHJHYHQYDQDDQYXOOHQGHDQDO\VHVGLHGRRUKHW1,9(/]LMQYHUULFKW 9DQGHU%XUJHQ6FKHOOHYLVSDUDJUDDI

(154) 9DQGHHSLGHPLRORJLVFKH SRSXODWLHVWXGLHVJHYHQXLWVOXLWHQGGHVWXGLHVYDQ9DQGHU:DOHQ5LMFNHQ 

(155) HQ9DQGHU :DOHWDO 

(156) RQGHUNLQGHUHQLQ$PVWHUGDPHHQJRHGLQ]LFKWLQGHSUHYDOHQWLHYDQDVWPD ELMDOORFKWRQHYHUVXVDXWRFKWRQHNLQGHUHQ.

(157) SDJYDQ. 5,90UDSSRUW. . 'HEHVFKULMYHQGHHSLGHPLRORJLHYDQDVWPDHQ &23'LQ1HGHUODQGRSEDVLVYDQ KXLVDUWVHQUHJLVWUDWLHV. ,QGLWKRRIGVWXNZRUGHQGHHSLGHPLRORJLVFKHJHJHYHQVYDQYLHUKXLVDUWVHQUHJLVWUDWLHVPHW EHWUHNNLQJWRWDVWPDHQ&23'ZHHUJHJHYHQ(HQXLWJHEUHLGHEHVFKULMYLQJYDQGH KXLVDUWVHQUHJLVWUDWLHVHQGHPRJHOLMNKHGHQHQEHSHUNLQJHQYDQGHGDDULQYHU]DPHOGH JHJHYHQVLVJHJHYHQLQKHWLQYHQWDULVHUHQGHUDSSRUW 6PLWHQ%HDXPRQW

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µJHPLGGHOGH¶ LQFLGHQWLHYDQDVWPDHQYDQFKURQLVFKHEURQFKLWLV ILJ0DDVHWDO

(159) 'H JHPLGGHOGHLQFLGHQWLHYDQDVWPDLQGHKXLVDUWVHQUHJLVWUDWLHVLVYRRUPDQQHQHQYURXZHQ YHUJHOLMNEDDUHQEHGUDDJWRQJHYHHUSHUSHUMDDU ELMODJH

(160) 'HKRRJVWHLQFLGHQWLH ZRUGWJH]LHQELMNLQGHUHQMRQJHUGDQMDDU URQGJHYDOOHQSHUSHUMDDU

(161) 9RRUGH RXGHUHOHHIWLMGVJURHSHQOLJWGHLQFLGHQWLHURQGJHYDOOHQSHUSHUMDDU ILJ

(162)    ,QFLGHQWLH SHU  SHUMDDU

(163). PDQQHQ YURXZHQ.   . . . . . . OHHIWLMG MDDU

(164). )LJ. ,QFLGHQWLHYDQDVWPDQDDUOHHIWLMGHQJHVODFKW*HVWDQGDDUGLVHHUGQDDUGH EHYRONLQJYDQ1HGHUODQGLQJHPLGGHOGHYDQYLHUKXLVDUWVHQUHJLVWUDWLHV &051LMPHJHQ(HUVWH1DWLRQDOHVWXGLH51+7UDQVLWLHSURMHFW(HUVWH 1DWLRQDOH6WXGLH

(165) %URQ9RONVJH]RQGKHLG7RHNRPVWYHUNHQQLQJ0DDVHW DOELMO.

(166) SDJYDQ. 5,90UDSSRUW. 'HJHPLGGHOGHLQFLGHQWLHYDQFKURQLVFKHEURQFKLWLVLQGHKXLVDUWVHQUHJLVWUDWLHVEHGUDDJW ELMQDSHUPDQQHQHQELMQDSHUYURXZHQSHUMDDU ELMO

(167) +HWYHUORRSPHWGH OHHIWLMGELM&23'YHUVFKLOWVWHUNYDQKHWOHHIWLMGVYHUORRSELMDVWPDWRWGHOHHIWLMGYDQMDDU ZRUGWSHUMDDUELMPLQGHUGDQRSGHSHUVRQHQFKURQLVFKHEURQFKLWLVJHGLDJQRVWLFHHUG WHUZLMOERYHQGH]HOHHIWLMGGLWDDQWDOVWHUNWRHQHHPWWRWUXLPJHYDOOHQSHUSHUMDDUELM PDQQHQHQJHYDOOHQSHUSHUMDDUELMYURXZHQ ILJ

(168)    ,QFLGHQWLH SHU  SHUMDDU

(169). PDQQHQ YURXZHQ.   . . . . . . OHHIWLMG MDDU

(170). )LJ. ,QFLGHQWLHYDQFKURQLVFKHEURQFKLWLVQDDUOHHIWLMGHQJHVODFKW *HVWDQGDDUGLVHHUGQDDUGHEHYRONLQJYDQ1HGHUODQGLQJHPLGGHOGHYDQ YLHUKXLVDUWVHQUHJLVWUDWLHV &051LMPHJHQ(HUVWH1DWLRQDOHVWXGLH51+ 7UDQVLWLHSURMHFW

(171) %URQ9RONVJH]RQGKHLG7RHNRPVWYHUNHQQLQJ0DDVHW DOELMO.  1DDUUHJLR 2SEDVLVYDQGHJHJHYHQVYDQGH1DWLRQDOH6WXGLHLVGHLQFLGHQWLHYDQDVWPDYRRUGHUHJLR¶V QRRUG *URQLQJHQ)ULHVODQGHQ'UHQWKH

(172) ]XLG 1RRUG%UDEDQWHQ/LPEXUJ

(173) HQPLGGHQ RYHULJHSURYLQFLHV

(174) YHUJHOLMNEDDU RQJHYHHUSHUSHUMDDU

(175)  ILJ

(176) 9RRUFKURQLVFKH EURQFKLWLVLVHHQJHULQJHDIQDPHYDQGHLQFLGHQWLH]LFKWEDDUJDDQGHYDQUHJLRQRRUGQDDU UHJLR]XLG9RRUHPI\VHHPOLMNWLQGLHULFKWLQJHHQJHULQJHVWLMJLQJYDQGHLQFLGHQWLH ]LFKWEDDU'HYHUVFKLOOHQWXVVHQUHJLR¶V]LMQHFKWHUJHULQJHQNXQQHQPRJHOLMNGRRUWRHYDORI UHJLVWUDWLHJHERQGHQIDFWRUHQZRUGHQYHUNODDUG.

(177) SDJYDQ. 5,90UDSSRUW.   ,QFLGHQWLH  SHU SHUMDDU

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sQWLQGHLQFLGHQWLHYDQDVWPD ]LFKWEDDU   ,QFLGHQWLH SHU SHUMDDU

(179). . /DDJ. . 0LGGHQ. . +RRJ.   PDQQHQ. )LJ. YURXZHQ. ,QFLGHQWLHYDQDVWPDQDDUGHVRFLDDOHFRQRPLVFKHVWDWXV RSEDVLVYDQKHW EHURHSYDQGHNRVWZLQQHU

(180) %URQ&051LMPHJHQELMO.

(181) SDJYDQ. 5,90UDSSRUW.   ,QFLGHQWLH SHU SHUMDDU

(182). . /DDJ. . 0LGGHQ. . +RRJ.   PDQQHQ. )LJ. YURXZHQ. ,QFLGHQWLHYDQDVWPDQDDUVRFLDDOHFRQRPLVFKHVWDWXV RSEDVLVYDQRSOHLGLQJ

(183) YRRUSHUVRQHQRXGHUGDQMDDU%URQ51+ELMO. 'HLQFLGHQWLHYDQFKURQLVFKHEURQFKLWLVLQGH&051LMPHJHQHQLQKHW51+LV]RZHOYRRU PDQQHQDOVYURXZHQGXLGHOLMNKRJHULQGHODDJVWHVRFLDDOHFRQRPLVFKHNODVVHQ ILJHQ 

(184) +HWLVZDDUVFKLMQOLMNGDWGLWVDPHQKDQJWPHWVRFLDDOHFRQRPLVFKHYHUVFKLOOHQLQOHHIVWLMO RDURRNJHZRRQWHQ

(185) 'HJHJHYHQVYDQKXLVDUWVHQUHJLVWUDWLHV]LMQHFKWHUQLHWJHVFKLNWRPGH DFKWHUJURQGHQYDQGH]HVRFLDDOHFRQRPLVFKHYHUVFKLOOHQWHRQGHU]RHNHQYDQZHJHKHW RQWEUHNHQYDQJHJHYHQVRYHUOHHIVWLMOIDFWRUHQ]RDOVURRNJHZRRQWHQGLHGDDUDDQWHQ JURQGVODJNXQQHQOLJJHQ   ,QFLGHQWLH SHU SHUMDDU

(186). . /DDJ. . 0LGGHQ. . +RRJ.   PDQQHQ. )LJ. YURXZHQ. ,QFLGHQWLHYDQFKURQLVFKHEURQFKLWLVQDDUGHVRFLDDOHFRQRPLVFKHVWDWXV RS EDVLVYDQKHWEHURHSYDQGHNRVWZLQQHU

(187) %URQ&051LMPHJHQ ELMO.

(188) SDJYDQ. 5,90UDSSRUW.   ,QFLGHQWLH SHU SHUMDDU

(189). . /DDJ. . 0LGGHQ. . +RRJ.   PDQQHQ. )LJ. YURXZHQ. ,QFLGHQWLHYDQ&23'QDDUVRFLDDOHFRQRPLVFKHVWDWXV RSEDVLVYDQ RSOHLGLQJ

(190) YRRUSHUVRQHQRXGHUGDQMDDU%URQ51+ELMO. 'HLQFLGHQWLHFLMIHUVGLH]LMQDIJHOHLGYDQGHJHJHYHQVXLWKHW51+EHVWDQGKHEEHQ XLWVOXLWHQGEHWUHNNLQJRSSHUVRQHQRXGHUGDQMDDUDDQJH]LHQLQKHW51+DOOHHQYDQGH]H SHUVRQHQGHRSOHLGLQJLVJHUHJLVWUHHUG SDUDJUDDI

(191) +LHUGRRUZRUGWRDYHUJHOLMNLQJYDQ GH]HFLMIHUVPHWGLHYDQDQGHUHUHJLVWUDWLHVEHPRHLOLMNW0RJHOLMNVSHHOWGLWODDWVWHYRRUDVWPD HHQJURWHUHUROGDQYRRU&23'RPGDWGHLQFLGHQWLHYDQDVWPDKHWKRRJVWLVYRRUGHMRQJVWH OHHIWLMGVJURHSHQ SDUDJUDDI

(192)  :DQQHHUGHYHU]HNHULQJVYRUP ]LHNHQIRQGVYHUVXVSDUWLFXOLHUYHU]HNHUGHQ

(193) ZRUGW EHVFKRXZGDOVHHQJURYHPDDWYRRUHHQODJHUHYHUVXVKRJHUHVRFLDDOHFRQRPLVFKHVWDWXVGDQ NXQQHQRRNGHJHJHYHQVYDQGH1DWLRQDOH6WXGLHDOVLQGLFDWRUYRRUGHVRFLDDOHFRQRPLVFKH VWDWXVZRUGHQEHVFKRXZG(UPRHWGDQHFKWHUUHNHQLQJPHHZRUGHQJHKRXGHQGDWHYHQWXHOH YHUVFKLOOHQNXQQHQZRUGHQYHURRU]DDNWGRRUDQGHUHIDFWRUHQGLHVDPHQKDQJHQPHWGH YHU]HNHULQJVYRUP)LJXXUODDW]LHQGDWGHLQFLGHQWLHYDQDVWPDFKURQLVFKHEURQFKLWLVHQ HPI\VHHPLQGHSDUWLFXOLHUYHU]HNHUGHQ KRJHUHVRFLDDOHFRQRPLVFKHVWDWXV

(194) VWHHGVODJHUOLJW GDQLQGH]LHNHQIRQGVYHU]HNHUGHQ.

(195) SDJYDQ. 5,90UDSSRUW.   ,QFLGHQWLH  SHU SHUMDDU

(196) . =LHNHQIRQGV 3DUWLFXOLHU.   DVWPD. )LJ. FKURQLVFKH EURQFKLWLV. HPI\VHHP. ,QFLGHQWLHYDQDVWPDFKURQLVFKHEURQFKLWLVHQHPI\VHHPQDDUGHVRFLDDO HFRQRPLVFKHVWDWXV RSEDVLVYDQGHYHU]HNHULQJVYRUP

(197) *HZRJHQQDDUGH 1HGHUODQGVHSRSXODWLHLQ%URQ(HUVWH1DWLRQDOH6WXGLHELMO.  1DDUHWQLFLWHLW 'HJHJHYHQVRYHULQFLGHQWLHYDQDVWPDHQ&23'QDDUHWQLFLWHLW]LMQJHEDVHHUGRSVHFXQGDLUH DQDO\VHVYDQGH7ZHHGH1DWLRQDOH6WXGLHGLHLQRSGUDFKWYDQKHW1HGHUODQGV$VWPD)RQGV ZHUGHQYHUULFKWGRRUKHW1,9(/ 9DQGHU%XUJHQ6FKHOOHYLV

(198) ,QGHHHUVWH1DWLRQDOH 6WXGLHZDUHQJHJHYHQVRYHUHWQLFLWHLWEHVFKLNEDDUYRRU YDQGH

(199) SHUVRQHQ ,QWHJHQVWHOOLQJWRWGHJDQJEDUHDQDO\VHVLQKHWNDGHUYDQGHHHUVWH1DWLRQDOH6WXGLHZHUGLQ GH]HDDQYXOOHQGHDQDO\VHVQLHWJHFRUULJHHUGPDDUJHVWUDWLILFHHUGYRRUGHZLM]HYDQ VWHHNSURHIWUHNNLQJ2YHUHHQNRPVWLJGHUXLPHGHILQLWLHYRRUHWQLFLWHLWYDQKHW&%6ZHUGHHQ SDWLsQWDOORFKWRRQJHQRHPGDOVKHWHLJHQJHERRUWHODQGRIKHWJHERRUWHODQGYDQGHPRHGHURI GDWYDQGHYDGHU PLQLPDDOYDQGHGULH

(200) QLHW1HGHUODQGZDV+LHUELMZHUGHHQXLW]RQGHULQJ JHPDDNWYRRULQKHWEXLWHQODQGJHERUHQNLQGHUHQYDQWZHH1HGHUODQGVHRXGHUV]LMZHUGHQ WRWGHDXWRFKWRQHQJHUHNHQG8LWJDDQGHYDQGH]HGHILQLWLHZDVYDQGH SDWLsQWHQDOORFKWRRQ Q 

(201) 'HLQFLGHQWLHYDQDVWPDYHUVFKLOGHPHWELMQDSHU SHUMDDUQLHWWXVVHQDXWRFKWRQHQHQDOORFKWRQHQ2RNGHLQFLGHQWLHYDQ&23'ZDVJHOLMNLQ DXWRFKWRQHQHQDOORFKWRQHQPHWELMQDSHUSHUMDDU 2QGHUGHDOORFKWRQHQEHYRQGHQ]LFK7XUNHQ YDQGHDOORFKWRQHQ

(202)  0DURNNDQHQ YDQGHDOORFKWRQHQ

(203) 6XULQDPHUV YDQGHDOORFKWRQHQ

(204) HQ ,QGRQHVLsUV YDQGHDOORFKWRQHQ

(205) 'HUHVWJURHSEHVWRQGXLWSHUVRQHQYDQ:HVW(XURSHVH NRPDI RQJHYHHUWZHHGHUGHYDQGHDOORFKWRQHQ

(206) 1RRUG$PHULNDQHQHQNOHLQHDQGHUH HWQLVFKHJURHSHQ'HLQFLGHQWLHYDQ&23'ZDVELQQHQGHDI]RQGHUOLMNHHWQLVFKHJURHSHQ YHUJHOLMNEDDUPDDUGHLQFLGHQWLHYDQDVWPDYHUWRRQGHGXLGHOLMNHYHUVFKLOOHQ ILJ

(207) .

Referenties

GERELATEERDE DOCUMENTEN

De Astma/COPD-verpleegkundige is er in principe voor alle patiënten met Astma/COPD, voor hun familie/gezinsleden en andere hulpverleners die met Astma en/of COPD te

In dit dagboekje kunt u opmerkingen en bijzonderheden betreffende Astma/..

Wanneer de partner deze zorgen niet uitspreekt en zonder uitleg vrijen gaat vermijden, zijn misverstanden haast onvermijdelijk.. Er zijn patiënten die zich schamen voor

Als u dringende vragen heeft, kunt u bellen met uw huisarts of naar de polikliniek Longziekten. De polikliniek Longziekten is bereikbaar van maandag tot en met vrijdag tussen 08.00

Doordat uw gegevens op afstand beoordeeld worden, kan dit ervoor zorgen dat u minder vaak naar de polikliniek hoeft te komen.. U krijgt bij thuismonitoring een vast aanspreekpunt

Deze vragenlijst gaat over ervaringen met de zorg voor astma en/of COPD.. Het is de bedoeling dat de vragenlijst wordt ingevuld door

Bij het trekken van een steekproef dienen de richtlijnen beschreven in het Handboek Eisen en Werkwijzen CQI-metingen PRO 02 gevolgd te worden.. Instellingen die met de CQI Astma

- Beide niet als diagnostisch middel maar om ernst vast