Acuerdo Nº 324 - Reglamento para el funcionamiento de la bodega principal y auxiliares de la Comisión Nacional de Prevención de Riesgos y Atención de Emergencias (CNE)

3iJ /D*DFHWD1ž²0LpUFROHVGHIHEUHURGHO $UWtFXORž²ÈPELWRGHDSOLFDFLyQ(OSUHVHQWHUHJODPHQWR 5(*/$0(1726 VHUi DSOLFDEOH D OD %RGHJD 3ULQFLSDO \ RWUDV ERGHJDV H[LVWHQWHV R TXHHQHOIXWXURVHOOHJDUDQDFRQIRUPDUGHOD&RPLVLyQ1DFLRQDOGH 3UHYHQFLyQGH5LHVJRV\$WHQFLyQGH(PHUJHQFLDV &1(  35(6,'(1&,$'(/$5(3Ò%/,&$ $UWtFXORž²'H¿QLFLRQHV &20,6,Ï11$&,21$/'(35(9(1&,Ï1'(/5,(6*2< ‡ &1( &RPLVLyQ 1DFLRQDO GH 3UHYHQFLyQ GHO 5LHVJR \ $7(1&,Ï1'((0(5*(1&,$6 $WHQFLyQGH(PHUJHQFLDV 5(*/$0(1723$5$(/)81&,21$0,(172'(/$ ‡ &8(&RQWUDORUtDGH8QLGDGHV(MHFXWRUDV %2'(*$35,1&,3$/<$8;,/,$5(6'(/$ ‡ %RGHJD 3ULQFLSDO (V OD HQFDUJDGD GH UHFHSFLyQ FXVWRGLD \ &20,6,Ï11$&,21$/'(35(9(1&,Ï1 GLVWULEXFLyQGHVXPLQLVWURVPDWHULDOHV\DFWLYRV '(5,(6*26<$7(1&,Ï1'( ‡ 2WUDV ERGHJDV 6RQ GH DOPDFHQDPLHQWR VHFXQGDULR GH (0(5*(1&,$6 VXPLQLVWURVPDWHULDOHVXRWURV ‡ 5DFN(VWDQWH Ë1',&( ‡ 6XPLQLVWUR3URYLVLyQGHYtYHUHVXWHQVLOLRVRPDWHULDOHVSDUD HOIXQFLRQDPLHQWRGHOD&1( 7Ë78/2 '(6&5,3&,Ï1 ‡ $FWLYR &RQMXQWR GH WRGRV ORV ELHQHV \ GHUHFKRV FRQ YDORU 7Ë78/2, 'LVSRVLFLRQHVJHQHUDOHV PRQHWDULRTXHVRQSURSLHGDGGHOD&1(\TXHVHUHÀHMDQHQ 7Ë78/2,, 5HFHSFLyQUHJLVWURFRQWURO\FXVWRGLDGHVXPLQLVWURV VXFRQWDELOLGDG 7Ë78/2,,, 'HVSDFKRGHVXPLQLVWURV ‡ 5HTXLVLFLyQ'RFXPHQWRGHUHWLURGHPHUFDGHUtDGHERGHJD 7Ë78/2,9 $GPLQLVWUDFLyQGHLQYHQWDULRV ‡ 6LQLHVWUR6XFHVRTXHSURGXFHXQGDxR 7Ë78/29 7UDQVIHUHQFLDVGHLQVXPRVHQWUHERGHJDV 7Ë78/29, &RQWUROGHLQYHQWDULRVHQFXVWRGLDGHWHUFHURV $UWtFXORž²2UJDQL]DFLyQGHOD%RGHJD 7Ë78/29,, &RQWUROGHELHQHV\VXPLQLVWURVHQWUHJDGRVHQVLWLR $OPDFHQDPLHQWR\GLVWULEXFLyQ)XQFLRQHVJHQHUDOHV(VWD 7Ë78/29,,, 5HFXSHUDFLyQGHELHQHVVLQLHVWUDGRV JHVWLyQDGPLQLVWUDWLYDGHOD3URYHHGXUtDWHQGUiDFDUJRODUHFHSFLyQ 7Ë78/2,; 0DQHMRGHERGHJDVUHJLRQDOHV GHH[LVWHQFLDVUHJLVWURFXVWRGLDFRQVHUYDFLyQ\GLVWULEXLUORVELHQHV 7Ë78/2; 'LVSRVLFLRQHVWUDQVLWRULDV DGTXLULGRV SRU OD ,QVWLWXFLyQ REVHUYDQGR SDUD HOOR ODV SROtWLFDV 7Ë78/2;, 'LVSRVLFLRQHVJHQHUDOHV GLUHFWULFHV QRUPDV WpFQLFDV \ SURFHGLPLHQWRV TXH DO HIHFWR OH  9,*(1&,$ VHxDOHQ VXV VXSHULRUHV MHUiUTXLFRV DVt FRPR OD 'LUHFFLyQ *HQHUDO GH $GPLQLVWUDFLyQ GH %LHQHV \ &RQWUDWDFLyQ $GPLQLVWUDWLYD $Vt -XQWD'LUHFWLYDGHOD&RPLVLyQ1DFLRQDOGH3UHYHQFLyQ FRPRLQIRUPDU\FRRUGLQDUFRQHOIXQFLRQDULRXyUJDQRVROLFLWDQWH GHO5LHVJR\$WHQFLyQGH(PHUJHQFLDV GHO LQJUHVR GH ORV ELHQHV DGTXLULGRV SDUD VX GHELGD YHUL¿FDFLyQ (QHMHUFLFLRGHODVIDFXOWDGHV\UHJXODFLRQHVHVWDEOHFLGDVHQORV DSUREDFLyQ\SRVWHULRUWUiPLWHGHSDJR DUWtFXORVLQFLVRV  \ \GHOD&RQVWLWXFLyQ3ROtWLFDGH $OPDFHQDPLHQWR \ GLVWULEXFLyQ )XQFLRQHV HVSHFt¿FDV GHQRYLHPEUHGHDUWtFXORV\GHOD/H\*HQHUDOGHOD (VWD JHVWLyQ DGPLQLVWUDWLYD GH OD 3URYHHGXUtD GHEHUi FXPSOLU FRQ $GPLQLVWUDFLyQ3~EOLFD/H\1žGHPD\RGH ODVVLJXLHQWHVIXQFLRQHV &RQVLGHUDQGR D  5HFLELU ORV ELHQHV TXH ORV SURYHHGRUHV HQWUHJXHQ VREUH ORV ,²4XH HV GHEHU GH OD 3URYHHGXUtD ,QVWLWXFLRQDO GH ELHQHVDGMXGLFDGRVGHQWURGHOSOD]RFRQWUDFWXDOHVWDEOHFLGR OD &RPLVLyQ 1DFLRQDO GH 3UHYHQFLyQ GHO 5LHVJR \ $WHQFLyQ GH E  &RRUGLQDUFRQODVXQLGDGHVUHVSHFWLYDVTXHORVELHQHVFXPSODQ (PHUJHQFLDV &1( FXPSOLUFRQHOSULQFLSLRGHYLJLODQFLDVREUHHO FRQ ODV FRQGLFLRQHV GH FDQWLGDG FDOLGDG \ HVSHFL¿FDFLRQHV EXHQIXQFLRQDPLHQWRGHOD%RGHJD3ULQFLSDO\RWUDVFUHDGDVRTXH WpFQLFDVDFRUGDGDV$GLFKRVHIHFWRVSRGUiREWHQHUODDVHVRUtD HQXQIXWXUROOHJDUDQHVWDEOHFHUVH \ FULWHULR WpFQLFR GH ODV GHSHQGHQFLDV VROLFLWDQWH 'H OR ,,²4XHOD/H\*HQHUDOGH&RQWURO,QWHUQR1žGHOGH DQWHULRUGHEHUiUHQGLUXQLQIRUPHHVFULWRSDUDODLQFRUSRUDFLyQ MXOLRGHOHQVXDUWtFXORVFRQFHSWRGHFRQWUROLQWHUQRLQFLVR GHODLQIRUPDFLyQUHVSHFWLYDHQHO5HJLVWURGH3URYHHGRUHV\ F  HVWLSXOD JDUDQWL]DU H¿FLHQFLD \ H¿FDFLD GH ODV RSHUDFLRQHV$Vt DO3URYHHGRU,QVWLWXFLRQDOSDUDODFRRUGLQDFLyQGHODWRPDGH WDPELpQHODUWtFXOR$FWLYLGDGHVGH&RQWUROLQFLVRD GLVSRQHHO ODVGHFLVLRQHVVDQFLRQDWRULDVRUHVDUFLWRULDVTXHSURFHGDQHQ GRFXPHQWDU PDQWHQHU DFWXDOL]DGRV \ GLYXOJDU LQWHUQDPHQWH ODV GHUHFKRHQHOVXSXHVWRGHLQFXPSOLPLHQWRVGHORVFRQWUDWLVWDV SROtWLFDV QRUPDV \ SURFHGLPLHQWRV GH FRQWURO TXH JDUDQWLFHQ HO SUHYLDREVHUYDQFLDGHOGHELGRSURFHVRHQFDGDFDVRSRUTXLHQ FXPSOLPLHQWRGHREMHWLYRV\ODVPHWDVWUD]DGDVSRUOD,QVWLWXFLyQ FRUUHVSRQGD ,,,²4XHHQOD/H\*HQHUDOGH&RQWURO,QWHUQR1žGHO F  $OPDFHQDU\FXVWRGLDUHQFRQGLFLRQHVItVLFDVWpFQLFDV\GH GHMXOLRGHOHQVXFDStWXOR,91RUPDVVREUHDFWLYLGDGHV VHJXULGDG DSURSLDGD \ EDMR XQ DGHFXDGR VLVWHPD GH FRQWURO GH FRQWURO QRUPD  LQGLFD 9HUL¿FDFLRQHV \ &RQFLOLDFLRQHV HLQYHQWDULRORVELHQHVDGTXLULGRVDWUDYpVGHORVGLIHUHQWHV SHULyGLFDV ³/D H[DFWLWXG GH ORV UHJLVWURV VREUH DFWLYRV \ SDVLYRV SURFHGLPLHQWRVGHFRQWUDWDFLyQDGPLQLVWUDWLYD GH OD LQVWLWXFLyQ GHEH VHU FRPSUREDGD SHULyGLFDPHQWH PHGLDQWH G  'LVWULEXLU FRQ DUUHJOR D XQ VLVWHPD GH FRQWURO H¿FLHQWH \ ODV FRQFLOLDFLRQHV FRPSUREDFLRQHV \ RWUDV YHUL¿FDFLRQHV TXH RSRUWXQR \ HQ ySWLPDV FRQGLFLRQHV GH WUDVODGR ORV ELHQHV VH GH¿QDQ LQFOX\HQGR HO FRWHMR FRQWUD GRFXPHQWRV IXHQWHV \ HO VHxDODGRV HQ HO SiUUDIR DQWHULRU (Q DFDWDPLHQWR D OR UHFXHQWR ItVLFR GH DFWLYRV WDOHV FRPR HO PRELOLDULR \ HTXLSR ORV HVWDEOHFLGR HQ HO 5HJODPHQWR GH$GPLQLVWUDFLyQ GH %LHQHV YHKtFXORV ORV VXPLQLVWURV HQ ERGHJD X RWURV SDUD GHWHUPLQDU HPLWLGRSRUOD'LUHFFLyQ*HQHUDOGH$GPLQLVWUDFLyQGH%LHQHV FXDOTXLHUGLIHUHQFLD\DGRSWDUODVPHGLGDVSURFHGHQWHV \&RQWUDWDFLyQ$GPLQLVWUDWLYDV ,9²4XH HO DFXHUGR GH -XQWD 'LUHFWLYD 1ž  VH H  (Q HO FDVR GH DFWLYRV HODERUDU LQIRUPHV GHO ,QYHQWDULR UHFRPLHQGDUHJODPHQWDUHOIXQFLRQDPLHQWRGHOD%RGHJD GH %LHQHV SDUD VX UHPLVLyQ D OD 'LUHFFLyQ *HQHUDO GH $FXHUGDQ $GPLQLVWUDFLyQ GH %LHQHV \ &RQWUDWDFLyQ $GPLQLVWUDWLYD 5(*/$0(1723$5$(/)81&,21$0,(172'(/$ FRQIRUPHORHVWDEOHFHODQRUPDWLYDYLJHQWHHQHVWDPDWHULD %2'(*$35,1&,3$/<$8;,/,$5(6'(/$ I  /DVGHPiVIXQFLRQHVTXHOHDVLJQHQVXVVXSHULRUHVMHUiUTXLFRV &20,6,Ï11$&,21$/'(35(9(1&,Ï1 RHORUGHQDPLHQWRMXUtGLFR '(5,(6*26<$7(1&,Ï1'( 7Ë78/2,, (0(5*(1&,$6 5HFHSFLyQUHJLVWURFRQWUROFXVWRGLDGHPHUFDQFtDV 7Ë78/2, $UWtFXOR ž²/D UHFHSFLyQ GH ORV PDWHULDOHV VH KDUi HQ OD 'LVSRVLFLRQHV*HQHUDOHV ERGHJD3ULQFLSDOEDMRODUHVSRQVDELOLGDGHOMHIHGHERGHJDWRGRHQ $UWtFXOR ž²(O 2EMHWR GHO SUHVHQWH UHJODPHQWR FRQVLVWH HQ FRRUGLQDFLyQFRQHOiUHDVROLFLWDQWH HVWDEOHFHUORVFULWHULRVWpFQLFRV\DGPLQLVWUDWLYRVTXHSHUPLWDQHQ $UWtFXORž²6RORSRUH[FHSFLyQVHJ~QODVFDUDFWHUtVWLFDVGHO IRUPD H¿FLHQWH DGPLQLVWUDU \ FRQWURODU ORV PDWHULDOHV H LQVXPRV ELHQ R PDWHULDO VH SRGUi UHFLELU HQ XQ OXJDU GLVWLQWR D OD ERGHJD DVtFRPRSURFHGHUGHPDQHUDRSRUWXQDFRQHODEDVWHFLPLHQWRHQORV 3ULQFLSDO WRGR EDMR OD UHVSRQVDELOLGDG GH OD XQLGDG VROLFLWDQWH FHQWURVRFRPLWpVGHHPHUJHQFLDUHTXHULGRV PLVPDTXHGHEHUiHQXQSOD]RGHKRUDVHQYLDUQRWDGRQGHDFUHGLWH

/D*DFHWD1ž²0LpUFROHVGHIHEUHURGHO 3iJ HO UHFLER FRQIRUPH GH ORV PDWHULDOHV \ VXPLQLVWURV HQWUHJDGRV $UWtFXOR ²7RGDV ODV VDOLGDV GHEHUiQ HVWDU VRSRUWDGDV LQGLFDQGR HQ pVWD FRPR PtQLPR &DVD FRPHUFLDO FDQWLGDG GH FRQ ODV UHTXLVLFLRQHV JHQHUDGDV SRU HO VLVWHPD GHELGDPHQWH PDWHULDOUHFLELGRHLQGLFDUVLVHUHFLEHGHFRQIRUPLGDGRVLTXHGD DXWRUL]DGDVHQFDVRGHDXVHQFLDGHpVWDVQRVHSRGUiKDFHUHQWUHJD DOJR SHQGLHQWH 'HELHQGR LQPHGLDWDPHQWH HQWUHJDU OD UHTXLVLFLyQ GHODPHUFDGHUtD GHOELHQRPDWHULDO $UWtFXOR ²3DUD FDGD VDOLGD VH JHQHUDUi YtD VLVWHPD XQ $UWtFXOR ž²(O MHIH GH ERGHJD WHQGUi OD REOLJDFLyQ GH UHSRUWHGHVDOLGDFRQQ~PHURFRQVHFXWLYR UHFLELU OD PHUFDGHUtD FRPSDUDQGR ODV HVSHFL¿FDFLRQHV WpFQLFDV $UWtFXOR²'HEHUiQHQYLDUVHFRSLDGHHVWDGRFXPHQWDFLyQ FRQWUDODRUGHQGHFRPSUDUHVSHFWLYDHQWUHJDGDSUHYLDPHQWHSRUOD DOD&RQWDELOLGDG SURYHHGXUtD 'HEHUiQ KDFHUVH UHYLVLRQHV SHULyGLFDV DXWR LQYHQWDULRV  \ $UWtFXORž²(QFDVRGHQRH[LVWLUFRQIRUPLGDGHQWHODRUGHQ FRPSUDUOR FRQ ORV GDWRV GHO VLVWHPD (VWR LQGHSHQGLHQWHPHQWH GH GHFRPSUD\ODPHUFDGHUtDHQWUHJDGDSRUODFDVDFRPHUFLDOQRVH ODVUHYLVLRQHVTXHUHDOLFHOD&RQWDELOLGDG$XGLWRUtD,QWHUQDXRWUD DFHSWDUiODHQWUHJDGHYROYLHQGRODPLVPDFRQQRWDDODSURYHHGXUtD HQWLGDGGHELGDPHQWHDFUHGLWDGDSDUDHOOR GRQGH LQGLTXH DO PHQRV ORV PRWLYRV SRU OD QR DFHSWDFLyQ GH OD $UWtFXOR²(QFDVRGHTXHODPHUFDGHUtDGHEDVHUHQYLDGD PHUFDGHUtD FRQXQFKRIHUGHEHUiH[LVWLUXQDVROLFLWXGH[SUHVDGHODGHSHQGHQFLD $UWtFXORž²6HGHEHUiQUHJLVWUDUHQHOVLVWHPDDXWRPDWL]DGR FRUUHVSRQGLHQWH GHELpQGRVH FRQIHFFLRQDU XQ UHSRUWH GH WUDVODGR WRGRV ORV VXPLQLVWURV PDWHULDOHV DFWLYRV X RWURV TXH LQJUHVHQ HOFXDOGHEHVHU¿UPDGRSRUOD-HIDWXUDGHODERGHJDRDTXLHQVH SURYHQLHQWHVGHSURYHHGRUHVGRQDFLRQHVGHWHUFHURVRGHYROXFLRQHV GHVLJQH \ HO FKRIHU TXH WUDVLHJD OD PHUFDGHUtD DQRWDQGR FRPR $UWtFXOR ²3DUD FDGD LQJUHVR VH JHQHUD XQ UHSRUWH GH PtQLPRQRPEUHDSHOOLGRV\FpGXODGHLGHQWLGDG HQWUDGDHQHVWULFWRRUGHQFRQVHFXWLYR 7Ë78/2,9 $UWtFXOR ²/RV VXPLQLVWURV PDWHULDOHV DFWLYRV SXHGHQ VHUUHFLELGRVHQVXWRWDOLGDGRSRUHQWUHJDVSDUFLDOHVVHJ~QVHDODV $GPLQLVWUDFLyQGHLQYHQWDULRV UHJODVHVWDEOHFLGDVHQODRUGHQGHFRPSUD $UWtFXOR ²(O FRQWURO GH LQYHQWDULRV VH OOHYDUD D FDER $UWtFXOR ²/D MHIDWXUD GH %RGHJD DYLVDUD D ORV HQ IRUPD SHUPDQHQWH FRQ FRUWHV PHQVXDOHV DO ~OWLPR GtD KiELO GH GHSDUWDPHQWRV OD IHFKD H[DFWD GH UHFLER GH ORV VXPLQLVWURV SDUD FDGDPHVEDMRORVOLQHDPLHQWRVSULQFLSLRV\SROtWLFDVHVWDEOHFLGDV HIHFWRVGHTXHpVWRVGHWHUPLQHQVLH[LVWHQPXOWDVSRUDWUDVRVHQOD GHELGDPHQWHDXWRUL]DGDV HQWUHJD\FDOFXOHQHOPRQWRGHODVPLVPDV $UWtFXOR²(QORVSULPHURVFLQFRGtDVGHOPHVVLJXLHQWHOD $UWtFXOR²6HGHEHUiUHJLVWUDUODHQWUDGDRODVDOLGDHQHO -HIDWXUDGH%RGHJDHQYLDUiXQUHSRUWHDO'HSDUWDPHQWRGH6HUYLFLRV VLVWHPDVHJ~QFRUUHVSRQGDHQWLHPSRUHDO *HQHUDOHV LQGLFiQGROH ODV YDULDFLRQHV GHO FRVWR GH LQYHQWDULR $UWtFXOR ²(O IXQFLRQDULR DVLVWHQWH R DX[LOLDU GH ERGHJD VXIULGRGXUDQWHHOPHVFRQHO¿QGHTXHVHPDQWHQJDDFWXDOL]DGRV GHEHUi FKHTXHDU TXH ODV GRQDFLRQHV UHFLELGDV QR HVWpQ YHQFLGDV ORVVHJXURVGHODPHUFDGHUtD SHURVLpVWDVORHVWiQVHDEVWHQGUiGHUHFLELUODVKDFLHQGRHOUHSRUWH $UWtFXOR²7RGRVORVLQYHQWDULRVGHODVGLIHUHQWHVERGHJDV UHVSHFWLYR GHEHUiQ VHU PDQHMDGRV HQ HO VLVWHPD DXWRPDWL]DGR VHSDUiQGROR $UWtFXOR ²6H GHEHUi OOHYDU XQ UHJLVWUR VLVWHPiWLFR GHO SRUERGHJDV\EDMRODVPLVPDVSDXWDVHVWDEOHFLGDVSDUDODERGHJD PRYLPLHQWR GH VXPLQLVWURV HQ HO VLVWHPD DXWRPDWL]DGR GH ODV SULQFLSDO GLIHUHQWHVERGHJDVTXHGLVSRQJDOD&1( $UWtFXOR²'HEHUiQKDFHUVHFRPSUREDFLRQHVItVLFDVFRPR $UWtFXOR ²/RV UHJLVWURV SDUD HIHFWR GHO FLHUUH PHQVXDO PtQLPR XQD YH] DO PHV GHMDQGR HYLGHQFLD GH pVWDV  FRQWUD ODV GHEHQFRQWHPSODUODVHQWUDGDV\VDOLGDVGHOGtDSULPHURDOGtD~OWLPR H[LVWHQFLDV GHO LQYHQWDULR SHUPDQHQWH GHO VLVWHPD DXWRPDWL]DGR GHOPHVFRUUHVSRQGLHQWH D HIHFWR GH YHUL¿FDU TXH FRLQFLGDQ DPERV UHVXOWDGRV 'H GDUVH $UWtFXOR ²/DV FRUUHFFLRQHV GH OD RSHUDFLyQ GLDULD HQ GLIHUHQFLDVpVWDVGHEHQVHUGHELGDPHQWHUHYLVDGDV\MXVWL¿FDGDV HO VLVWHPD DXWRPDWL]DGR GHEHUiQ HVWDU VRSRUWDGDV \ GHELGDPHQWH $UWtFXOR²(OSURFHVRGHEDMD\GHVWLQR¿QDOGHVXPLQLVWURV DXWRUL]DGDVSRUOD-HIDWXUDGHOD%RGHJDGH0DWHULDOHV PDWHULDOHV X DFWLYRV FDGXFRV R HQ PDO HVWDGR GHEHUi HIHFWXDUVH $UWtFXOR ²/D MHIDWXUD GH ERGHJD GHEHUi HVWDEOHFHU XQ FRQIRUPHHOSURFHGLPLHQWRHVWDEOHFLGRSDUDHOGHVHFKRGHSURGXFWRV PHFDQLVPR GH UHYLVLyQ TXH OH SHUPLWD LGHQWL¿FDU ORV LQVXPRV SHUHFHGHURVRUHDOL]DQGRHOSURFHVRGHGDUGHEDMDHQHOFDVRGHORV PDWHULDOHV R ELHQHV SUy[LPRV D YHQFHU X REVROHWRV VHJ~Q VHD HO DFWLYRV FDVR $UWtFXOR ²'HEHUi WRPDUVH DO PHQRV GRV LQYHQWDULRV DO $UWtFXOR ²1R VH SRGUiQ WUDQVIHULU FRQFHGHU GRQDU DxRFRRUGLQDGRVFRQOD-HIDWXUDGH&RQWDELOLGDGSDUDORFXDOHOMHIH REVHTXLDU YHQGHU R SRQHU D GLVSRVLFLyQ GH RWUDV LQVWLWXFLRQHV GHERGHJDHQFRRUGLQDFLyQFRQODMHIDWXUDGHFRQWDELOLGDGSURJUDPDUi RUJDQLVPRV LQYHQWDULRV SURSLHGDG GH OD &1( D H[FHSFLyQ GH ORV ODVIHFKDVSDUDVXHMHFXFLyQ\HPLWLUiODVHVSHFL¿FDFLRQHVQHFHVDULDV FDVRVTXHVHDQDXWRUL]DGRVSRUFRQYHQLRVGLVSRVLFLRQHVYLJHQWHVR RSRUWXQDPHQWH OD-XQWD'LUHFWLYD $UWtFXOR ²(O PpWRGR \ OD WpFQLFD GH YDORUDFLyQ GH ORV $UWtFXOR ²7RGDV ODV GRQDFLRQHV SDUD XVR LQWHUQR GH OD LQYHQWDULRVWHyULFRVVHUiQDFRVWRSURPHGLRVHJ~QORVUHJLVWURVGHO &1(VHUiQUHJLVWUDGDVHQHOVLVWHPDDXWRPDWL]DGRVRSRUWDGDVSRU VLVWHPD IDFWXUD R QRWD GHO GRQDQWH DXWRUL]DGR GHELHQGR FRQWHPSODU ORV $UWtFXOR²/RVLQVXPRVSDUDODWRPDGHLQYHQWDULRVGHEHUiQ GDWRVUHTXHULGRV DFRPRGDUVH H LGHQWL¿FDUVH HQ ORV UDFNV GH OD VLJXLHQWH PDQHUD $UWtFXOR ²&XDQGR VH WUDQVSRUWH PHUFDGHUtD GH XQD 1XPHURGHSDVLOORQXPHURGH5DFNQXPHURGHQLYHOGHOUDFN(Q ERGHJD D RWUD R HQ VX GHIHFWR DO OXJDU GH HPHUJHQFLD VH GHEH WRGR FDVR GHEHUi XELFDUVH ORV DUWtFXORV GH PDQHUD DSURSLDGD TXH FRORFDU XQ PDUFKDPR DO IXUJyQ R FDPLyQ FRUUHVSRQGLHQWH FRQ OD SHUPLWDQODIDFLOLGDGGHOFRQWHR\HQFRQGLFLRQHVQRUPDOHV OLVWDGHHQWUHJDHVWHGHEHVHUUHWLUDGRSRUODSHUVRQDDXWRUL]DGDOD $UWtFXOR²/DFDSWDFLyQGHODLQIRUPDFLyQSDUDHIHFWRGH PHUFDGHUtD \ XQD YH] FKHTXHDGD OD PHUFDGHUtD HQYtD OD KRMD GH ORV FRQWHRV VH UHDOL]DUD FRQIRUPH DO VLJXLHQWH RUGHQ SRU SDVLOOR HQWUHJD GHELGDPHQWH ¿UPDGD KDFLHQGR FRQVWDU TXH VH UHFLEH D QXPHURGHUDFNGHDUULEDKDFLDDEDMRGHL]TXLHUGDDGHUHFKD\GH VDWLVIDFFLyQRHQVXGHIHFWRLQGLFDUHOHVWDGRGHUHFLERGHODPLVPD DWUiVKDFLDDGHODQWH IDOWDQWHVPDOHVWDGRXRWUR  $UWtFXOR ²6ROR SRGUi SDUWLFLSDU HO SHUVRQDO TXH VHD $UWtFXOR²6HSURKtEHWHUPLQDQWHPHQWHHODOPDFHQDPLHQWR DVLJQDGRSDUDHIHFWXDUHOLQYHQWDULR\DOFXDOVHKD\DFDSDFLWDGRR GH ELHQHV PDWHULDOHV R VXPLQLVWURV HQ ODV GLIHUHQWHV ERGHJDV TXHWHQJDODH[SHULHQFLDQHFHVDULDHQHOWHPD GH OD &1( TXH VHDQ SURSLHGDG GH WHUFHURV VDOYR HQ ORV FDVRV $UWtFXOR ²(O LQYHQWDULR SHUPDQHQWH R WHyULFR GHEHUi GHWHUPLQDGRVHQIRUPDH[SUHVDHQORVFRQWUDWRV HVWDUGHELGDPHQWHDFWXDOL]DGRHQHOVLVWHPDFRPSXWDGRUL]DGRDOD 7Ë78/2,,, IHFKDGHUHDOL]DUVHHOLQYHQWDULRSDUDHIHFWRGHFRPSDUDUORFRQHO UHVXOWDGRGHORVFRQWHRVGHH[LVWHQFLDItVLFD 'HVSDFKRGHPHUFDQFtD $UWtFXOR²/RVFRQWHRVItVLFRVGHEHUiQKDFHUVHGHDFXHUGR $UWtFXOR ²6H GHEHUiQ UHJLVWUDU HQ WLHPSR UHDO HQ HO FRQODXQLGDGGHPHGLGDHVWDEOHFLGDHQHOFDWiORJR VLVWHPDDXWRPDWL]DGRWRGRVORVLQVXPRVTXHVDOJDQGHERGHJD $UWtFXOR ²'HEHUi OHYDQWDUVH XQ DFWD GH LQLFLR \ $UWtFXOR ²/D ERGHJD GH PDWHULDOHV GHEHUi PDQWHQHU XQ WHUPLQDFLyQGHODWRPDItVLFDGHOLQYHQWDULRLQGLFDQGRHQHOODFRPR UHJLVWUR DFWXDOL]DGR GH ¿UPDV DXWRUL]DGDV SDUD SRGHU FRPSUREDU PtQLPR )HFKD \ KRUD GH LQLFLR QRPEUH SXHVWR \ ¿UPD GH ORV OD DXWHQWLFLGDG HQ HO GRFXPHQWR UHTXHULGR \ HMHFXWDU OD DFFLyQ GH SDUWLFLSDQWHVQ~PHURGH~OWLPDHQWUDGD\Q~PHURGH~OWLPDVDOLGD VDOLGDGHODPHUFDGHUtDGHERGHJD UHJLVWUDGDHQHOVLVWHPDIHFKD\KRUDGH¿QDOL]DFLyQ

3iJ /D*DFHWD1ž²0LpUFROHVGHIHEUHURGHO $UWtFXOR²/DHYDOXDFLyQGHORVLQYHQWDULRVHVWDUiDFDUJR $UWtFXOR ²3DUD HO UHWLUR GH VXPLQLVWURV VH GHEH GH OD MHIDWXUD GH OD ERGHJD HVWR LQGHSHQGLHQWHPHQWH GH OR TXH OD FRQIHFFLRQDU XQD UHTXLVLFLyQ FRQ FRSLD DO UHVSRQVDEOH GH OD &RQWDELOLGDGSXHGDDQDOL]DU\GHWHUPLQDU HPSUHVDGHELGDPHQWH¿UPDGDSRUHOUHVSRQVDEOHGHOUHWLUR SHUVRQD $UWtFXOR ²/D SODQHDFLyQ GH OD WRPD GH LQYHQWDULR DVt DXWRUL]DGD  LQGLFiQGROH OD FDQWLGDG \ HO VDOGR GLVSRQLEOH GHVSXpV FRPRODRUJDQL]DFLyQHMHFXFLyQ\FRQWUROVHUiUHVSRQVDELOLGDGGH GHGLFKRUHWLUR OD-HIDWXUDGH%RGHJD1RREVWDQWHOD$XGLWRUtD,QWHUQD$XGLWRUtD $UWtFXOR²6HPDQDOPHQWHODMHIDWXUDGHERGHJDFRQFLOLDUD ([WHUQD&RQWUDORUtD*HQHUDOGHOD5HS~EOLFD&RQWDELOLGDGXRWUD FRQ HO UHVSRQVDEOH GH OD HPSUHVD R ,QVWLWXFLyQ ORV VDOGRV GHO LQVWDQFLDDXWRUL]DGDSRGUiQHIHFWXDUFXDQGRORHVWLPHQFRQYHQLHQWH LQYHQWDULR LQYHQWDULRV ItVLFRV SDUD FRPSUREDU VX H[DFWLWXG FRQ HO WHyULFR $UWtFXOR ²3HULyGLFDPHQWH XQD YH] DO PHV  VH UHDOL]DUi FRUUHVSRQGLHQWH\DVHDSRUGHWHUPLQDGRtWHPRSRUWRGRV XQ LQYHQWDULR ItVLFR GH ODV H[LVWHQFLDV SDUD GHWHUPLQDU TXH QR $UWtFXOR²(OPDUJHQGHGLIHUHQFLDV IDOWDQWHVRVREUDQWHV  H[LVWDQGLIHUHQFLDV'HOGRFXPHQWRREWHQLGRVHHQWUHJDUDXQWDQWR DFHSWDEOH JOREDO HQWUH HO VLVWHPD DXWRPDWL]DGR \ ODV H[LVWHQFLDV DODSHUVRQDHQFDUJDGDGHODFXVWRGLD(VWRLQGHSHQGLHQWHPHQWHGH ItVLFDVQRGHEHUiH[FHGHUGHOGHOLQYHQWDULRWRWDO6LQHPEDUJR ORVLQYHQWDULRVTXHUHDOLFHOD&RQWDELOLGDG$XGLWRUtD,QWHUQDXRWUD VHUi REOLJDFLyQ GH OD -HIDWXUD GH ERGHJD LQYHVWLJDU FXDOHVTXLHUD HQWLGDGGHELGDPHQWHDFUHGLWDGDSDUDHOOR GLIHUHQFLDV UHVXOWDQWHV D HIHFWR GH DFODUDU WRWDOPHQWH ODV PLVPDV $UWtFXOR ²(Q FDVR GH GHWHFWDUVH GLIHUHQFLDV OD MHIDWXUD 6L GHVSXpV GH ODV LQYHVWLJDFLRQHV SHUVLVWLHUDQ GLIHUHQFLDV GHERGHJDHIHFWXDUiODVLQYHVWLJDFLRQHVSUHOLPLQDUHV\GHQRSRGHU QR MXVWL¿FDGDV pVWDV VHUiQ UHJLVWUDGDV FRQWDEOHPHQWH SUHYLD HQFRQWUDUODFDXVDGHGHVYLDFLyQGHORVLQYHQWDULRVVHFRPXQLFDUD DXWRUL]DFLyQGHOD-HIDWXUDFXDQGRHVWDVHDGHDGHOSURYHHGRU LQPHGLDWDPHQWH D OD MHIDWXUD GH 3URYHHGXUtD D HIHFWR GH TXH pVWD FXDQGRVHDD\GHO'LUHFWRU$GPLQLVWUDWLYRGHD'H UHDOLFHODVLQYHVWLJDFLRQHVGHOFDVR\DSOLFDUODVPHGLGDVFRUUHFWLYDV H[LVWLUIDOWDQWHVVXSHULRUHVDHVHSRUFHQWDMHVHUiQHFHVDULRHOHYDUHO TXH FRUUHVSRQGDQ ,QYHVWLJDFLyQ GH FDPSR UHXQLRQHV FRQ HO PLVPRDOD$GPLQLVWUDFLyQVXSHULRUSDUDLQVWDXUDUXQSURFHGLPLHQWR HQFDUJDGRGHFXVWRGLDUHOVXPLQLVWURLQIRUPH¿QDODOD'LUHFFLyQ DGPLQLVWUDWLYRSDUDHORORVUHVSRQVDEOHVGHODVH[LVWHQFLDVItVLFDV $GPLQLVWUDWLYD  WRGRFRQIRUPHODQRUPDWLYDYLJHQWHSDUDGHWHUPLQDUODYHUGDGGHORV $UWtFXOR²/DMHIDWXUDGHERGHJDFRPXQLFDUiSDUDHIHFWRV KHFKRV,JXDOPHQWHVHDSOLFDUiORPLVPRFXDQGRH[LVWDUHLWHUDFLyQ GH VHJXURV HO PRQWR \ WLSR GH PHUFDGHUtD TXH VH HQFXHQWUD HQ OD GHIDOWDQWHVLQMXVWL¿FDGDDXQTXHVHDHQSRUFHQWDMHVLQIHULRUHVDO PRGDOLGDG GH DGPLQLVWUDFLyQ GH LQYHQWDULRV D HIHFWR GH TXH GXUDQWHHOSHUtRGRFRPSOHWR OD GHSHQGHQFLD HQFDUJDGD GH ORV VHJXURV SURFHGD FRQ OR TXH OH $UWtFXOR²'HEHUiJHQHUDUVHSRUPHGLRGHOD-HIDWXUDGHOD FRUUHVSRQGD %RGHJDXQDFLUFXODUDWRGDVODVGHSHQGHQFLDVTXHPDQWLHQHQRWHQJDQ $UWtFXOR ²&RQ UHVSHFWR D OD DFWXDOL]DFLyQ GHO VLVWHPD UHODFLyQFRQH[LVWHQFLDVGHPDWHULDOHV\VXPLQLVWURVSRUORPHQRV DXWRPDWL]DGRVHDFWXDUiFRQIRUPHORHVWDEOHFLGRSDUDHOFRQWURO\ GtDVKiELOHVDQWHVGHODWRPDItVLFDGHLQYHQWDULRV(QGLFKDFLUFXODU UHJLVWURGHORVPRYLPLHQWRVFRUUHVSRQGLHQWHV GHEHUi LQIRUPDUVH ODV IHFKDV GH OD WRPD GH LQYHQWDULRV ItVLFRV 7Ë78/29,, LQGLFDQGRTXHGXUDQWHHVHSHULRGRQRVHUHDOL]DUiQUHFHSFLRQHVGH &RQWUROGHELHQHV\VXPLQLVWURVHQWUHJDGRVHQHOVLWLR VXPLQLVWURV D SURYHHGRUHV QL HQWUHJD D ORV GHSDUWDPHQWRV VDOYR $UWtFXOR²&XDQGRXQVXPLQLVWURRELHQVHDDGTXLULGRSRU VLWXDFLRQHVGHELGDPHQWHFDOL¿FDGDV OD&1(SDUDVXIUDJDUVLWXDFLRQHVGHHPHUJHQFLD\TXHSRUVXSHVR 7Ë78/29 WDPDxRRFRPSOHMLGDGGHOELHQVHDPHMRUVROLFLWDUVXHQWUHJDHQVLWLR 7UDQVIHUHQFLDVGHLQVXPRVHQWUHERGHJDV GHEHFRRUGLQDUVHFRQHO&8(SDUDTXHOHYDQWHODLQIRUPDFLyQ\D VHDSRUVXVSURSLRVFRODERUDGRUHVRHQFRRUGLQDFLyQFRQOD-HIDWXUD $UWtFXOR²/DVVDOLGDVSRUWUDQVIHUHQFLDGHLQVXPRVDRWUDV GH%RGHJDV ERGHJDV\DVHDSRUHVSDFLRRSRUTXHQRVHYDQDXWLOL]DUSURQWDPHQWH $UWtFXOR²&XDQGRVHDHQWUHJDGDODPHUFDGHUtDHQVLWLRHV \TXHHVWpQGHELGDPHQWHUHJLVWUDGDHQHVDERGHJDGHEHIRUPDOL]DUVH GHEHUGHOMHIHGHO&8(SURSRUFLRQDUDOiUHDUHVSHFWLYDVHJ~QVHD SRUPHGLRGHXQGRFXPHQWRGHVDOLGDGHQRPLQDGRWUDVODGRLQWHUQR HOFDVR %RGHJDRD$GPLQLVWUDFLyQGH$FWLYRV ODGRFXPHQWDFLyQ ¿UPDGRSRUODMHIDWXUDGHERGHJDHQHOFXDOHVSHFL¿TXHODUD]yQGHO VRSRUWHSDUDHOUHJLVWURFRUUHVSRQGLHQWH WUDVODGR $UWtFXOR ²(Q HO FDVR GH ORV $FWLYRV HQWUHJDGRV HQ HO $UWtFXOR ²3DUD HVWH FDVR VH GHEH DVLJQDU XQ FyGLJR OXJDU GHEH JHVWLRQDUVH DQWH OD 3UHVLGHQFLD R 'LUHFFLyQ (MHFXWLYD HVSHFLDOHQHOVLVWHPDDXWRPDWL]DGRSDUDHIHFWRGHFRQFLOLDFLyQGH HO WUDVSDVR GH¿QLWLYR GHO ELHQ D OD LQVWLWXFLyQ EHQH¿FLDULD 3DUD PRYLPLHQWRVHQWUHODVGLIHUHQWHVERGHJDV\SDUDHYLWDUGXSOLFLGDG HVWRVHIHFWRVWDPELpQGHEHUiH[LVWLUXQR¿FLRMXVWL¿FDGRHOSODQGH GH UHJLVWURV TXH QR RULJLQHQ DXPHQWDU OD FDQWLGDG QL HO FRVWR GH LQYHUVLyQHODFXHUGRGH-XQWDGHDSUREDFLyQGHGLFKRSODQIDFWXUD LQYHQWDULR  FRPHUFLDO\OD¿FKDGHDFWLYR $UWtFXOR²6HPDQWHQGUiXQUHJLVWURPDQXDOGHWRGRVHVWRV PRYLPLHQWRVSDUDHIHFWRGHFRQFLOLDFLyQ 7Ë78/29,,, 7Ë78/29, 5HFXSHUDFLyQGHELHQHVVLQLHVWUDGRV &RQWUROGHLQYHQWDULRVHQFXVWRGLDGHRWUDV $UWtFXOR²(OMHIHGH%RGHJDHQFRRUGLQDFLyQFRQHO-HIH HPSUHVDVRLQVWLWXFLRQHV GH6HUYLFLRV*HQHUDOHVGHEHYHODUSRUTXHHOPRQWRGHORVVHJXURV GHORVPDWHULDOHV\VXPLQLVWURVVHDFRPRPtQLPRHOYDORUSURPHGLR $UWtFXOR²6HPDQWHQGUiVXPLQLVWURVEDMRODPRGDOLGDGGH GHOLQYHQWDULRGHOPHVDQWHULRU DGPLQLVWUDFLyQGHLQYHQWDULRVHQRWUDVLQVWDODFLRQHVFXDQGRDVtOR $UWtFXOR ²4XH OD FREHUWXUD GH ODV SyOL]DV DSDUWH GH ORV HVWLSXOHHOFRQWUDWRFRQHOSURYHHGRURTXHSRUUD]RQHVGHHVSDFLR FDVRV IRUWXLWRV DPSDUHQ ORV SHUMXLFLRV R SpUGLGDV PDWHULDOHV TXH HQ QXHVWUDV LQVWDODFLRQHV VH GHEDQ FXVWRGLDU HQ RWUDV ERGHJDV QR SXHGDQ DIHFWDU GHELGR DO GHVFXLGR QHJOLJHQFLD R PDO HMHUFLFLR R SHUWHQHFLHQWHVDOD&1(QLDUUHQGDGDVSRUpVWD GDxRLQWHQFLRQDO $UWtFXOR²6HGDUiGHDOWDDODWRWDOLGDGGHVXPLQLVWURVEDMR $UWtFXOR ²(O FXLGDGR GH OD LQWHJULGDG GH ORV PDWHULDOHV HVWD PRGDOLGDG SUHYLR HO FRQWHR \ FKHTXHR HQ VLWLR GH OD FDOLGDG RELHQHVTXHVRQPRYLOL]DGRVSRUORVHPSOHDGRVSDUDODHMHFXFLyQ GHO PDWHULDO FHUFLRUiQGRVH TXH FXPSODQ FRQ ODV HVSHFL¿FDFLRQHV GHVXVWDUHDVTXHGDEDMRUHVSRQVDELOLGDG~QLFD\H[FOXVLYDGHVXV SDFWDGDV 8QD YH] FRPSUREDGR OR DQWHULRU VH FRQIHFFLRQDUi XQ FXVWRGLRV DFWDHQODFXDOVHSRQGUiFRPRPtQLPRGHVFULSFLyQGHOVXPLQLVWUR 7Ë78/2,; FDQWLGDG ORFDOL]DFLyQ GHO PLVPR UHVSRQVDEOH GH OD HPSUHVD R LQVWLWXFLyQTXHFXVWRGLDHOVXPLQLVWUR QRPEUH\FHGXOD IRUPD\ 0DQHMRGHERGHJDVUHJLRQDOHV FRQGLFLRQHVSDUDHOUHWLURGHOVXPLQLVWUR FRPXQLFDFLyQGtDVHQTXH $UWtFXOR ²/D WUDQVIHUHQFLD GH LQVXPRV D ERGHJDV VHSXHGHUHWLUDUKRUDULRHWF  5HJLRQDOHVGHEHIRUPDOL]DUVHSRUPHGLRGHXQGRFXPHQWRGHVDOLGD $UWtFXOR ²0HGLDQWH FRPXQLFDGR R¿FLDO HO -HIH GH OD GHQRPLQDGR WUDVODGR LQWHUQR ¿UPDGR SRU OD MHIDWXUD GH ERGHJD %RGHJD OH LQIRUPD D OD HPSUHVD R LQVWLWXFLyQ UHVSRQVDEOH GH OD HQHOFXDOLQGLTXHHOQ~PHURGHR¿FLRFRQTXHHOGHSDUWDPHQWRGH FXVWRGLDGHOUHWLURGHORVVXPLQLVWURV QRPEUHDSHOOLGRV\FHGXOD  RSHUDFLRQHVJLUDODLQVWUXFFLyQGHDEDVWHFHUFRQHVRVVXPLQLVWURVODV DGMXQWDQGRFRSLDGHODFHGXODGHOPLVPR ERGHJDVHQPHQFLyQ

/D*DFHWD1ž²0LpUFROHVGHIHEUHURGHO 3iJ $UWtFXOR ²3DUD HVWH FDVR VH GHEH DVLJQDU XQ FyGLJR DVLHQWRDQRPEUHGH.HQQHWK0DGULG&KLQFKLOODFRQIHFKD HVSHFLDOHQHOVLVWHPDDXWRPDWL]DGRSDUDHIHFWRGHFRQFLOLDFLyQGH GHDJRVWRGHFpGXODGHLGHQWLGDG&6HSXEOLFDHVWH PRYLPLHQWRVHQWUHODERGHJDSULQFLSDO\ODVERGHJDVUHJLRQDOHV\ HGLFWRSDUDRtURSRVLFLRQHVDGLFKDUHSRVLFLyQGHQWURGHOWpUPLQRGH HYLWDUGXSOLFLGDGGHUHJLVWURV TXHQRRULJLQHQDXPHQWDUODFDQWLGDG TXLQFHGtDVKiELOHVDSDUWLUGHODWHUFHUDSXEOLFDFLyQHQ/D*DFHWD QLHOFRVWRGHLQYHQWDULR  +HUHGLDGHIHEUHURGH²'HSDUWDPHQWRGH5HJLVWUR² $UWtFXOR ²(O FRQWURO GH LQYHQWDULRV VH OOHYDUD D FDER 0$(0DUYLQ6iQFKH]+HUQiQGH]'LUHFWRU² ,1  HQIRUPDSHUPDQHQWHFRQFRUWHVPHQVXDOHVDO~OWLPRGtDKiELOGH FDGDPHVEDMRORVOLQHDPLHQWRVSULQFLSLRV\SROtWLFDVHVWDEOHFLGDV 3$7521$721$&,21$/'(/$,1)$1&,$ GHELGDPHQWHDXWRUL]DGDV $UWtFXOR²(QORVSULPHURVFLQFRGtDVGHOPHVVLJXLHQWHOD (',&726 -HIDWXUDGH%RGHJDHQYLDUiXQUHSRUWHDO'HSDUWDPHQWRGH6HUYLFLRV *HQHUDOHV LQGLFiQGROH ODV YDULDFLRQHV GHO FRVWR GH LQYHQWDULR 38%/,&$&,Ï1'(7(5&(5$9(= VXIULGRGXUDQWHHOPHVFRQHO¿QGHTXHVHPDQWHQJDDFWXDOL]DGRV 6H OH FRPXQLFD D -RQDWKDQ 9HJD )HUQiQGH] TXH SRU ORVVHJXURVGHODPHUFDGHUtD UHVROXFLRQHVGHODUHSUHVHQWDFLyQOHJDOGHHVWDR¿FLQDORFDOGH $UWtFXOR²'HEHUiQKDFHUVHFRPSUREDFLRQHVItVLFDVFRPR KRUDVGHGHMXQLRGHKRUDVGHGHMXQLR\GHKRUDV PtQLPR XQD YH] DO PHV GHMDQGR HYLGHQFLD GH pVWDV  FRQWUD ODV H[LVWHQFLDV GHO LQYHQWDULR SHUPDQHQWH GHO VLVWHPD DXWRPDWL]DGR GHO  GH DJRVWR WRGDV GHO  VH LQLFLy SURFHVR GH SURWHFFLyQ D HIHFWR GH YHUL¿FDU TXH FRLQFLGDQ DPERV UHVXOWDGRV 'H GDUVH DGPLQLVWUDWLYD D IDYRU GHO QLxR ,DQ $ORQVR 9HJD 1DYDUUR \ HO GLIHUHQFLDVpVWDVGHEHQVHUGHELGDPHQWHUHYLVDGDV\MXVWL¿FDGDV 3$1,OHRWRUJyDEULJRWHPSRUDOHQXQDOEHUJXHGHHVWDLQVWLWXFLyQ $UWtFXOR ²'HEHUi WRPDUVH DO PHQRV GRV LQYHQWDULRV DO OXHJR YDORUy ODV QXHYDV FRQGLFLRQHV GH OD PDGUH \ ¿QDOPHQWH DxR FRRUGLQDGRV FRQ OD -HIDWXUD GH &RQWDELOLGDG SDUD OR FXDO HO RUGHQyHOUHWRUQRGHGLFKRQLxRFRQVXSURJHQLWRUDGLVSRQLHQGRGHO MHIH GH ERGHJD HQ FRRUGLQDFLyQ FRQ OD MHIDWXUD GH FRQWDELOLGDG \ VHJXLPLHQWRVRFLDOSRUWRGRHOWLHPSRTXHVHDQHFHVDULRDGHPiV HQFDUJDGR GH OD ERGHJD UHJLRQDO SURJUDPDUi ODV IHFKDV SDUD VX GHOHJyODFRQWLQXDFLyQGHODDWHQFLyQHQOD2¿FLQD/RFDOGHO3$1, HMHFXFLyQ\HPLWLUiODVHVSHFL¿FDFLRQHVQHFHVDULDVRSRUWXQDPHQWH HQ*XDGDOXSHGDGRTXHODPDGUH\HOQLxRUHVLGHQHQ0RUDYLD6H 7Ë78/2; OH FRQ¿HUH DXGLHQFLD SRU WUHV GtDV KiELOHV SDUD TXH SUHVHQWH ORV 'LVSRVLFLRQHVWUDQVLWRULDV DOHJDWRVGHVXLQWHUpV\RIUH]FDODVSUXHEDVTXHHVWLPHQHFHVDULDV\ $UWtFXOR ²(Q HO ODSVR TXH OD 'LUHFFLyQ $GPLQLVWUDWLYD VHOHDGYLHUWHTXHWLHQHGHUHFKRDKDFHUVHDVHVRUDU\UHSUHVHQWDUSRU HQFRRUGLQDFLyQFRQHOiUHDGHLQIRUPiWLFDLPSOHPHQWDHOVLVWHPD DERJDGR\WpFQLFRVGHVXHOHFFLyQDVtFRPRFRQVXOWDU\IRWRFRSLDU LQWHJUDGR GH ERGHJD VH GHEHUi UHJLVWUDU OD HQWUDGD R OD VDOLGD HQ ODVSLH]DVGHOH[SHGLHQWHTXHSHUPDQHFHUiDVXGLVSRVLFLyQHQOD HO VLVWHPD VHJ~Q FRUUHVSRQGD D OR VXPR XQ GtD GHVSXpV GH OD R¿FLQD ORFDO GH *XDGDOXSH HQ GtDV \ KRUDV KiELOHV XELFDGD HQ UHFHSFLyQRGHVSDFKRGHORVVXPLQLVWURV 6DQ -RVp *RLFRHFKHD &DOOH %ODQFRV 0RQWHOLPDU GH OD VHGH GHO $UWtFXOR ²/D 'LUHFFLyQ $GPLQLVWUDWLYD )LQDQFLHUD HQ 3RGHU-XGLFLDOPHWURVDOHVWH'HEHUiVHxDODUOXJDUFRQRFLGRR FRRUGLQDFLyQFRQHO'SWRGH5HFXUVRV+XPDQRVJHVWLRQDUDHQXQ Q~PHURGHIDFVtPLOSDUDUHFLELUVXVQRWL¿FDFLRQHVHQHOHQWHQGLGR ODSVRQRPD\RUDWUHVPHVHVGHSXEOLFDGRHOSUHVHQWHUHJODPHQWRDQWH TXHGHQRKDFHUORRVLHOOXJDUVHxDODGRIXHUHLPSUHFLVRLQH[DFWR ODVLQVWDQFLDVSHUWLQHQWHVODDSHUWXUDGHQXHYDVSOD]DVSDUDHOPDQHMR R OOHJDUH D GHVDSDUHFHU R VL HO PHGLR HOHFWUyQLFR VHOHFFLRQDGR GHODVGLIHUHQWHVERGHJDVUHJLRQDOHVGXUDQWHODPDWHULDOL]DFLyQGH IXHUH GHIHFWXRVR HVWXYLHUH GHVFRQHFWDGR VLQ VX¿FLHQWH SURYLVLyQ HVWDVSOD]DVORVVXPLQLVWURVPDWHULDOHV\ELHQHVSDUDVHUXWLOL]DGRV HQ OD ]RQD HVWDUiQ EDMR OD FXVWRGLD GHO IXQFLRQDULR TXH KDJD HO GHSDSHORSRUFXDOTXLHURWURPRGRQRLPSXWDEOHDHVWDLQVWLWXFLyQ UHWLURGHODERGHJDFHQWUDO VH LQWHUUXPSLHUH OD FRPXQLFDFLyQ ODV UHVROXFLRQHV IXWXUDV TXHGDUiQ¿UPHVKRUDVGHVSXpVGHGLFWDGDVFRQIRUPHOD/H\GH 7Ë78/2;, 1RWL¿FDFLRQHV-XGLFLDOHV6HOHKDFHVDEHUDGHPiVTXHFRQWUDODV 'LVSRVLFLRQHV)LQDOHV LQGLFDGDV UHVROXFLRQHV SURFHGH UHFXUVR GH DSHODFLyQ SDUD DQWH OD $UWtFXOR ²/DV GLVSRVLFLRQHV FRQWHQLGDV HQ HVWH 3UHVLGHQFLD(MHFXWLYDGHHVWDLQVWLWXFLyQHOFXDOGHEHUiLQWHUSRQHU UHJODPHQWR VHUiQ GH DFDWDPLHQWR REOLJDWRULR \ FRQVHFXHQWHPHQWH DQWH OD 5HSUHVHQWDFLyQ /HJDO GH OD 2¿FLQD /RFDO GH *XDGDOXSH VXLQFXPSOLPLHQWRSRGUiRULJLQDUVDQFLRQHVFRQIRUPHORUHJXODGR GHQWUR GH ODV  KRUDV VLJXLHQWHV FRQWDGDV D SDUWLU GHO GtD KiELO SRU HO (VWDWXWR GH 6HUYLFLR &LYLO \ VX 5HJODPHQWR HO &yGLJR GH LQPHGLDWRVLJXLHQWHDODIHFKDGHSXEOLFDFLyQGHOWHUFHUDYLVRHQHO 7UDEDMR 5HJODPHQWR$XWyQRPR GH 6HUYLFLR GH OD &1( \ GHPiV 'LDULR2¿FLDOHQHOHQWHQGLGRTXHKDFHUORIXHUDGHGLFKRWpUPLQR QRUPDVVXSOHWRULDVTXHVHDQDSOLFDEOHV HOUHFXUVRGHYLHQHHQLQDGPLVLEOH $UWtFXORGHO&yGLJRGHOD 7Ë78/2;, 1LxH]\OD$GROHVFHQFLD ([SHGLHQWH1ž²2¿FLQD 9LJHQFLD /RFDOGH6DQ-RVp2HVWH²5REHUWR&DOGHUyQ%DUUDQWHV$VLVWHQWH $UWtFXOR ²(O SUHVHQWH 5HJODPHQWR IXH DXWRUL]DGR SRU GHOD5HSUHVHQWDFLyQ/HJDO² ,1  $FXHUGR GH -XQWD 'LUHFWLYD GH OD &1( 1ž  VHVLyQ RUGLQDULD1žGHO 38%/,&$&,Ï1'(35,0(5$9(= $UWtFXOR ²5LJH D SDUWLU GH VX SXEOLFDFLyQ HQ HO 'LDULR 6HQRWL¿FDDFXDOTXLHULQWHUHVDGRUHVROXFLyQDGPLQLVWUDWLYD 2¿FLDO/D*DFHWD GHODVGLH]KRUDVGHOYHLQWLWUpVGHDJRVWRGHOGRVPLOGLH]HQODFXDO (QHUR ²'HSDUWDPHQWR GH 3URYHHGXUtD²/LF *XLGR VHGLFWD'HFODUDWRULD$GPLQLVWUDWLYDGH$GRSWDELOLGDGGHODSHUVRQD 0DUtQ 4XLUyV 3URYHHGRU² YH]²2 & 1ž ²6RO PHQRUGHHGDG&pVDU6HJXUD%UHQHVQDFLGRHOVLHWHGHMXOLRGHODxR ²&² ,1  GRVPLOFLQFRLQVFULWRHQHOUHJLVWURGHQDFLPLHQWRGHODSURYLQFLD GH /LPyQ DO WRPR WUHVFLHQWRV FLQFXHQWD \ GRV SiJLQD WUHLQWD \ ,167,78&,21(6'(6&(175$/,=$'$6 VLHWHDVLHQWRVHWHQWD\WUHV6HDGYLHUWHTXHGHEHUiQVHxDODUOXJDU RPHGLRSDUDDWHQGHUQRWL¿FDFLRQHVEDMRDSHUFLELPLHQWRTXHGHQR KDFHUORRVLHOOXJDUVHxDODGRIXHUHLPSUHFLVRLQH[DFWRROOHJDUHD 81,9(56,'$'1$&,21$/ GHVDSDUHFHUODVQRWL¿FDFLRQHVIXWXUDVTXHGDUiQ¿UPHVYHLQWLFXDWUR 5(326,&,Ï1'(7Ë78/2 KRUDVGHVSXpVGHGLFWDGDV3XHGHQFRQWDUFRQODDVHVRUtD\KDFHUVH (',&72 UHSUHVHQWDUSRUXQDERJDGRGHVXHOHFFLyQDVtFRPRWHQHUDFFHVR\ UHYLVDUHOH[SHGLHQWHDGPLQLVWUDWLYR3URFHGHUHFXUVRGHDSHODFLyQ 38%/,&$&,Ï1'(7(5&(5$9(= HO FXDO GHEHUi LQWHUSRQHUVH GHQWUR GH ODV FXDUHQWD \ RFKR KRUDV $QWH HO 'HSDUWDPHQWR GH 5HJLVWUR GH OD 8QLYHUVLGDG VLJXLHQWHVDSDUWLUGHODWHUFHUDSXEOLFDFLyQGHpVWDFRPXQLFDFLyQ 1DFLRQDOVHKDSUHVHQWDGRVROLFLWXGGHUHSRVLFLyQGHGLSORPDSRU DQWH OD 5HSUHVHQWDFLyQ /HJDO GH OD 2¿FLQD /RFDO GH 3RFRFt GHO H[WUDYtR FRUUHVSRQGLHQWH DO WtWXOR GH (VSHFLDOLGDG 3URIHVLRQDO HQ 3DWURQDWR 1DFLRQDO GH OD ,QIDQFLD 1ž ²2¿FLQD $GPLQLVWUDFLyQ GH -XVWLFLD 3HQDO JUDGR DFDGpPLFR (VSHFLDOLGDG /RFDOGH7DODPDQFDSRUFRPLVLyQ²/LF6RFRUUR-LPpQH]3DOPD 3URIHVLRQDOUHJLVWUDGRHQHOOLEURGHWtWXORVEDMRWRPRIROLR 5HSUHVHQWDQWH/HJDO²53² ,1