DOEPE 06/06/2015 - Pág. 25 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 6 de junho de 2015
Diário Oficial do Estado de Pernambuco - Poder Executivo
'HPRQVWUDo}HVGRVUHVXOWDGRVFRQWLQXDomR
2ULJLQDO
/XFUR SUHMXL]R DQWHVGRLPSRVWRGHUHQGDHGD
FRQWULEXLomRVRFLDO
3URYLVmRSDUDLPSRVWRGHUHQGDHFRQWULEXLomRVRFLDO
/XFUR SUHMXL]R OtTXLGRGRSHUtRGR
$MXVWHV
5HDSUHVHQWDGR 2ULJLQDO $MXVWHV 5HDSUHVHQWDGR
'HPRQVWUDo}HVGRVIOX[RVGHFDL[D
2ULJLQDO
$FUpVFLPR GHFUpVFLPR GHDWLYRV
,PSRVWRVDUHFXSHUDU
2XWURVDWLYRV
$FUpVFLPR GHFUpVFLPR GHSDVVLYRV
,PSRVWRVDUHFROKHU
2XWUDVFRQWDVDSDJDU
2XWUDVSDVVLYRV
&DL[DOtTXLGRDSOLFDGRQDV JHUDGRSHODV DWLYLGDGHVGH
ILQDQFLDPHQWR
$FUpVFLPRQRFDL[DHHTXLYDOHQWHVGHFDL[D
'HPRQVWUDomRGRDFUpVFLPRQRFDL[DHHTXLYDOHQWHV
GHFDL[D
)RUQHFLPHQWRGHHQHUJLDHOpWULFD
,PSRVWRVVREUHYHQGDVHRXWUDVGHGXo}HV
5HFHLWDRSHUDFLRQDOOtTXLGD
6DOGRHP
$GLo}HV
%DL[DV
D
5HFHLWDV GHVSHVDV ILQDQFHLUDV
5HFHLWDVILQDQFHLUDV
5HQGLPHQWRVGHDSOLFDo}HV
ILQDQFHLUDV
0XOWDVFRQWUDWXDLV
2XWUDV
UHDSUHVHQWDGR
&XVWRVGDVYHQGDVHGHVSHVDVRSHUDFLRQDLV
UHDSUHVHQWDGR
'HVSHVDVILQDQFHLUDV
&XVWRVGDVYHQGDV
-XURVHPXOWDV
*HUDLVHDGPLQLVWUDWLYDV
$MXVWHDYDORUSUHVHQWHSURYLVmR
2XWUDVUHFHLWDV GHVSHVDV RSHUDFLRQDLV
SDUDGHVPRELOL]DomR
OtTXLGDV
7DULIDVEDQFiULDV
2XWUDVGHVSHVDVILQDQFHLUDV
(QHUJLDHOpWULFDSDUDUHYHQGD
'HSUHFLDomR
5HFHLWDV GHVSHVDV ILQDQFHLUDV
6HUYLoRVGHWUDQVPLVVmR
OtTXLGDV
&RQVXOWRULDHDVVHVVRULD
,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO$FRPSRVLomR
6DOiULRVHHQFDUJRV
GDVGHVSHVDVGHLPSRVWRGHUHQGDHFRQWULEXLomRVRFLDOHVWi
3XEOLFDo}HV
GHPRQVWUDGDDVHJXLU
6HUYLoRGHWHUFHLURV
$OXJXpLV
,PSRVWRGHUHQGD
3URYLVmRSDUDHQHUJLDFRQWUDWDGD 1RWDD
&RQWULEXLomRVRFLDO
2XWUDVUHFHLWDV GHVSHVDV OtTXLGDV
'HVSHVDVGHLPSRVWRHUHQGDH
FRQWULEXLomRVRFLDO
$VDSOLFDo}HVILQDQFHLUDVUHIHUHPVHVXEVWDQFLDOPHQWH
DRV IXQGRV GH LQYHVWLPHQWRV FRP UHPXQHUDo}HV
/RFDGRU
HTXLYDOHQWHVDGDWD[DGH&', (VVDVRSHUDo}HV
'LYHUVRV±3HVVRDVItVLFDV
SRVVXHPOLTXLGH]FRPSUD]RLQIHULRUD GLDV
,PRELOL]DGR
&RPSRVLomRHPRYLPHQWDomRGRVDOGR
7D[DVDQXDLVGH
GHSUHFLDomR
&RPSURPLVVRV$&RPSDQKLDSRVVXLFRPSURPLVVRVGHORQJRSUD]RHVWDEHOHFLGRVDSDUWLUGDYHQGDGHHQHUJLDFRQWUDWDGDQROHLOmRGH
IRQWHVDOWHUQDWLYDV /)$ UHDOL]DGRSHOD$1((/HPGHDJRVWRGH2SRROGHFRPSUDGRUHVpIRUPDGRSRUGLVWULEXLGRUDVGH
HQHUJLDHOpWULFDWRGDVFRPFRQWUDWRVGHIRUQHFLPHQWRSDUDRSHUtRGRGHGHMDQHLURGHDGHGH]HPEURGH(VWHVFRQWUDWRV
WHUmRDFRPSDQKDPHQWRHUHJXODomRIHLWDSHOD&kPDUDGH&RPHUFLDOL]DomRGH(QHUJLD &&((
2VGHPDLVFRPSURPLVVRVYLJHQWHVHPGHGH]HPEURGHHVWmRUHVXPLGRVDVHJXLU
$SOLFDo}HVILQDQFHLUDV$VDSOLFDo}HVILQDQFHLUDVQRYDORUGH5HPGHGH]HPEURGH 5HPGHGH]HPEURGH
HVWmR UHSUHVHQWDGDV SRU IXQGRV GH LQYHVWLPHQWRV UHPXQHUDGRV FRP EDVH HP SHUFHQWXDLV SUy[LPRV DR &HUWLILFDGR GH 'HSyVLWR
,QWHUEDQFiULR &', HQmRSRVVXHPSUD]RGHOLTXLGDomR$VDSOLFDo}HVILQDQFHLUDVFODVVLILFDGDVQRQmRFLUFXODQWHIRUDPFHGLGDVHPJDUDQWLDGH
HPSUpVWLPRVFRPR%1'(6FRQIRUPHGHPRQVWUDGRVQD1RWD &RQWDVDUHFHEHU5HIHUHVHDFRQWDVDUHFHEHUGHFOLHQWHVGHFRUUHQWHVGD
YHQGDGHHQHUJLD(VVDVFRQWDVDUHFHEHUGHFOLHQWHVQRPRQWDQWHGH5HPGHGH]HPEURGH 5HPGHGH]HPEURGH
VmRFRPSRVWDVSRUYDORUHVDYHQFHUHPQRPi[LPRGLDV(PGHGH]HPEURGHD$GPLQLVWUDomRGD&RPSDQKLDFRQFOXLXQmR
KDYHUQHFHVVLGDGHGHUHFRQKHFHUSHUGDVHVWLPDGDVFRPFUpGLWRVGHOLTXLGDomRGXYLGRVD
'HVFULomR
1RILQDOGRSHUtRGR
1RLQtFLRGRSHUtRGR
$FUpVFLPRQRFDL[DHHTXLYDOHQWHVGHFDL[D
&DL[DOtTXLGRDSOLFDGRQDVDWLYLGDGHVGHLQYHVWLPHQWRV
&DL[DOtTXLGRJHUDGRSHODVDWLYLGDGHVRSHUDFLRQDLV
&DL[D
&RQWDVFRUUHQWHVEDQFiULDV
$SOLFDo}HVILQDQFHLUDV
3DWULP{QLROtTXLGRD &DSLWDOVRFLDO2FDSLWDOVRFLDOVXEVFULWRHLQWHJUDOL]DGRHPGHGH]HPEURGHHGHGH]HPEURGHp
UHSUHVHQWDGRSRUDo}HVRUGLQiULDVFRPYDORUFRQWiELOPpGLRGHHPLVVmRGH5 SRUDomRWRWDOL]DQGRRYDORUGH5
GLVWULEXtGDVGDVHJXLQWHIRUPD
$FLRQLVWDV
$o}HV
(PGHDJRVWRGHIRLDSURYDGRHP5HXQLmRGR&RQVHOKRGH
$GPLQLVWUDomRDXPHQWRGRFDSLWDOVRFLDOGD&RPSDQKLDQRPRQWDQWH
GH 5 VHP HPLVVmR GH QRYDV Do}HV WRWDOPHQWH VXEVFULWR H
%UHQQDQG(QHUJLD6$
&RPSDQKLD+LGUR(OpWULFDGR6mR
LQWHJUDOL]DGR HP PRHGD OHJDO H FRUUHQWH E &DSLWDO DXWRUL]DGR $
)UDQFLVFR
&RPSDQKLD SRGHUi PHGLDQWH GHOLEHUDomR GR &RQVHOKR GH
$GPLQLVWUDomR DXPHQWDU R FDSLWDO VRFLDO LQGHSHQGHQWHPHQWH GH
%UHQQDQG(QHUJLD(yOLFD6$
UHIRUPD HVWDWXWiULD DWp R OLPLWH GH 5 HPLWLQGR
SURSRUFLRQDOPHQWHDVDo}HVFRUUHVSRQGHQWHVDRFDSLWDOVRFLDO
5HFHLWDRSHUDFLRQDOOLTXLGD
)OX[RVGHFDL[DVGDVDWLYLGDGHVRSHUDFLRQDLV
/XFUROtTXLGR SUHMXt]R GRSHUtRGR
$MXVWHVSDUDFRQFLOLDURUHVXOWDGRDRFDL[DJHUDGR
SHODVDWLYLGDGHVRSHUDFLRQDLV
&DL[DVHHTXLYDOHQWHVGHFDL[D
$MXVWHV 5HDSUHVHQWDGR 2ULJLQDO $MXVWHV 5HDSUHVHQWDGR
Ano XCII • NÀ 105 - 25
7UDQVIHUrQFLDV 6DOGRHP
E
&XVWRFRQWiELO
D
0yYHLVHXWHQVtOLRV
D
0iTXLQDVHHTXLSDPHQWRV
(TXLSDPHQWRVGHLQIRUPiWLFD
9HtFXORV
(GLILFDo}HV
,PRELOL]DGRHPDQGDPHQWR
&RQVWUXomRQRVSDUTXHV
$GLDQWDPHQWRVDIRUQHFHGRUHV
7RWDOGRFXVWR
7RWDOGDGHSUHFLDomRDFXPXODGD
7RWDOOtTXLGR
D 2YDORUGH5UHIHUHVHDGRDomRSDUDD&+(6)GD³LQIUDHVWUXWXUDGHFRQH[mRDRVLVWHPDGHWUDQVPLVVmR´FRPSRQHQWHVGD5HGH
%iVLFDGR6LVWHPD,QWHUOLJDGR1DFLRQDOFRQIRUPHHVWDEHOHFLGRQR&RQWUDWRGH&RQH[mRDR6LVWHPDGH7UDQVPLVVmR±&77H
5HVROXo}HV$1((/QHGH E 5HIHUHVHDUHFODVVLILFDomRGHVHUYLGmRDGPLQLVWUDWLYDUHJLVWUDGDHPFRPRLQWDQJtYHO
2EMHWR
$UUHQGDPHQWRGHWHUUHQR
9LJrQFLDGRFRQWUDWR
9DORU
ËQGLFH
,QtFLR
7pUPLQR
'XUDomR
$QXDO±5 UHDMXVWH
DDQRV
,3&$
,QVWUXPHQWRV ILQDQFHLURV REMHWLYRV H SROtWLFDV SDUD JHVWmR GH ULVFR ILQDQFHLUR D ,QVWUXPHQWRV ILQDQFHLURV 2V SULQFLSDLV
LQVWUXPHQWRVILQDQFHLURVGD&RPSDQKLDVmRFDL[DHHTXLYDOHQWHVGHFDL[DDSOLFDo}HVILQDQFHLUDVFRQWDVDUHFHEHUGHFOLHQWHVFRQWDVD
SDJDUDIRUQHFHGRUHVHHPSUpVWLPRVHILQDQFLDPHQWRV2YDORUMXVWRGRVDWLYRVHSDVVLYRVILQDQFHLURVpLQFOXtGRQRYDORUSHORTXDOR
LQVWUXPHQWRSRGHULDVHUWURFDGRHPXPDWUDQVDomRFRUUHQWHHQWUHSDUWHVGLVSRVWDVDQHJRFLDUHQmRHPXPDYHQGDRXOLTXLGDomRIRUoDGD
(PGHGH]HPEURGHHQmRKDYLDGLIHUHQoDVLJQLILFDWLYDHQWUHRVYDORUHVFRQWiEHLVHRVGHPHUFDGRSDUDRVLQVWUXPHQWRV
ILQDQFHLURV GD &RPSDQKLD $ &RPSDQKLD QmR UHDOL]D RSHUDo}HV GH KHGJH VZDS RX TXDLVTXHU RXWUDV RSHUDo}HV TXH HQYROYDP
LQVWUXPHQWRV ILQDQFHLURV GHULYDWLYRV E 2EMHWLYRV H SROtWLFDV SDUD JHVWmR GH ULVFR ILQDQFHLUR 2V SULQFLSDLV SDVVLYRV ILQDQFHLURV GD
&RPSDQKLDUHIHUHPVHDFRQWDVDSDJDUIRUQHFHGRUHVHHPSUpVWLPRVHILQDQFLDPHQWRV2SULQFLSDOSURSyVLWRGHVVHVSDVVLYRVILQDQFHLURV
p FDSWDU UHFXUVRV SDUD DV RSHUDo}HV GD &RPSDQKLD $ &RPSDQKLD QmR FRQWUDWD WUDQVDo}HV FRP GHULYDWLYRV $ $GPLQLVWUDomR GD
&RPSDQKLDVXSHUYLVLRQDDJHVWmRGHVVHVULVFRV$VSULQFLSDLVDWLYLGDGHVHPTXHVHDVVXPHPULVFRVILQDQFHLURVVmRUHJLGDVSRUSROtWLFDVH
SURFHGLPHQWRVDSURSULDGRVHRVULVFRVILQDQFHLURVVmRLGHQWLILFDGRVDYDOLDGRVHJHUHQFLDGRVGHDFRUGRFRPDVSROtWLFDVGD&RPSDQKLDH
VXDGLVSRVLomRSDUDULVFR5LVFRGHWD[DGHMXURV5LVFRGHWD[DVGHMXURVpRULVFRGHTXHRYDORUMXVWRGRVIOX[RVGHFDL[DIXWXURVGHXP
LQVWUXPHQWRILQDQFHLURIOXWXHGHYLGRDYDULDo}HVQDVWD[DVGHMXURVGHPHUFDGR$H[SRVLomRGD&RPSDQKLDDRULVFRGHPXGDQoDVQDV
WD[DVGHMXURVGHPHUFDGRUHIHUHVHSULQFLSDOPHQWHjVREULJDo}HVVXMHLWDVDWD[DVGHMXURVYDULiYHLV$&RPSDQKLDJHUHQFLDRULVFRGH
WD[DGHMXURVPDQWHQGRXPDFDUWHLUDHTXLOLEUDGDGHHPSUpVWLPRVDSDJDUVXMHLWRVDWD[DVIL[DVHDWD[DVYDULiYHLV$&RPSDQKLDQmRWHP
SDFWXDGRFRQWUDWRVGHGHULYDWLYRVSDUDID]HUVZDSFRQWUDHVWHULVFR3RUpPD&RPSDQKLDPRQLWRUDFRQWLQXDPHQWHDVWD[DVGHMXURVGH
PHUFDGRFRPRREMHWLYRGHDYDOLDUDHYHQWXDOQHFHVVLGDGHGHFRQWUDWDomRGHGHULYDWLYRVSDUDVHSURWHJHUFRQWUDRULVFRGHYRODWLOLGDGH
GHVVDVWD[DV6HQVLELOLGDGHDWD[DVGHMXURV$WDEHODDEDL[RGHPRQVWUDDVHQVLELOLGDGHDXPDSRVVtYHOPXGDQoDQDVWD[DVGHMXURV
PDQWHQGRVHWRGDVDVRXWUDVYDULiYHLVFRQVWDQWHVQRSUHMXt]RGD&RPSDQKLDDQWHVGDWULEXWDomR pDIHWDGRSHORLPSDFWRGRVHPSUpVWLPRV
DSDJDUVXMHLWRVDWD[DVYDULiYHLV &RPUHODomRDRSDWULP{QLRGD&RPSDQKLDH[LVWHDSHQDVXPLPSDFWRQmRVLJQLILFDWLYR
5HDLV
5HDLV
$XPHQWRUHGXomR
HP
(IHLWRQROXFURDQWHV
GDWULEXWDomR5
$PRYLPHQWDomRSUHVXPLGDHPSHUFHQWXDOSDUDDDQiOLVHGHVHQVLELOLGDGH
DWD[DVGHMXURVpEDVHDGDQDVWD[DVDWXDOPHQWHSUDWLFDGDVQRDPELHQWH
GHPHUFDGR
5LVFRGHFUpGLWR2ULVFRGHFUpGLWRpRULVFRGHDFRQWUDSDUWHGHXP
QHJyFLRQmRFXPSULUXPDREULJDomRSUHYLVWDHPXPLQVWUXPHQWRILQDQFHLUR
5HDLV
RXFRQWUDWRFRPFOLHQWHRTXHOHYDULDDRSUHMXt]RILQDQFHLUR$&RPSDQKLD
5HDLV
HVWiH[SRVWDDRULVFRGHFUpGLWRHPVXDVDWLYLGDGHVRSHUDFLRQDLV
5LVFRGHOLTXLGH]$&RPSDQKLDDFRPSDQKDRULVFRGHHVFDVVH]GHUHFXUVRVSRUPHLRGHXPDIHUUDPHQWDGHSODQHMDPHQWRGHOLTXLGH]
UHFRUUHQWH,QVWUXPHQWRVILQDQFHLURVHGHSyVLWRVHPGLQKHLUR2ULVFRGHFUpGLWRGHVDOGRVFRPEDQFRVHLQVWLWXLo}HVILQDQFHLUDVp
,QWDQJtYHO
(P D &RPSDQKLD UHFRQKHFHX FRPR ³'LUHLWRV GH &RQFHVVmR´ R YDORU DGPLQLVWUDGRSHOD7HVRXUDULDGD&RPSDQKLDGHDFRUGRFRPDSROtWLFDSRUHVWHHVWDEHOHFLGD2VUHFXUVRVH[FHGHQWHVVmRLQYHVWLGRV
UHIHUHQWH DRV UHFXUVRV DSOLFDGRV SHOD &RPSDQKLD QD FRQVWUXomR GD DSHQDVHPFRQWUDSDUWHVDSURYDGDVHGHQWURGROLPLWHHVWDEHOHFLGRDFDGDXPDHYLWDQGRFRQFHQWUDomRHPXPD~QLFDLQVWLWXLomRILQDQFHLUD
³LQIUDHVWUXWXUD GH FRQH[mR GDV LQVWDODo}HV GH WUDQVPLVVmR´ FRPSRQHQWHV GD 2OLPLWHGHFUpGLWRGDVFRQWUDSDUWHVpUHYLVDGRDQXDOPHQWHHSRGHVHUDWXDOL]DGRDRORQJRGRDQR(VVHVOLPLWHVVmRHVWDEHOHFLGRVDILPGH
5HGH%iVLFDGR6LVWHPD,QWHUOLJDGR1DFLRQDOHTXHIRUDPGRDGDVj&RPSDQKLD PLQLPL]DUDFRQFHQWUDomRGHULVFRVHDVVLPPLWLJDURSUHMXt]RILQDQFHLURQRFDVRGHSRWHQFLDOIDOrQFLDGHXPDFRQWUDSDUWH
'LUHLWRVGH&RQFHVVmR±5HGHV%iVLFDV
+LGUHOpWULFDGR6mR)UDQFLVFR&+(6)HPFRQIRUPLGDGHFRPRHVWDEHOHFLGRQD &REHUWXUDGHVHJXURV$&RPSDQKLDPDQWpPFREHUWXUDGHVHJXURVSDUDULVFRVRSHUDFLRQDLVHRXWURVSDUDUHVJXDUGDUVHXVDWLYRVQR
$PRUWL]DomRDFXPXODGD
5HVROXomR$1((/QGHGHMXQKRGH(VWHVDOGRVHUiDPRUWL]DGR PRQWDQWHGH5VHQGR5SDUDFREHUWXUDGHULVFRVFLYLVH5SDUDULVFRVRSHUDFLRQDLV$DSyOLFHGHVHJXURHVWiHP
QRPHGD3HGUD%UDQFD6$HDHPSUHVD6HWH*DPHOHLUDV6$HD&RPSDQKLDVmRFRVVHJXUDGDV2YDORUGRVVHJXURVFRQWUDWDGRVHP
OLQHDUPHQWHDWpRSUD]RILQDOGDFRQFHVVmRGD&RPSDQKLD
GHGH]HPEURGHpFRQVLGHUDGRVXILFLHQWHVHJXQGRDRSLQLmRGHDVVHVVRUHVHVSHFLDOLVWDVHPVHJXURVSDUDFREULUHYHQWXDLVSHUGDV
(PSUpVWLPRVHILQDQFLDPHQWRV
$VXILFLrQFLDGDFREHUWXUDGHVHJXURVQmRID]SDUWHGRHVFRSRGHUHYLVmRGRVDXGLWRUHVLQGHSHQGHQWHV
'HVFULomR
(QFDUJRVLQFLGHQWHV
$PLOWRQ4XHLUR]GD6LOYD±&RQWDGRU&5&3(2
0RHGDQDFLRQDO
'LUHWRULD 3DXORGH7DUVRGD&RVWDH-RVp$QWrPLR$OYHV$UUXGD
5HODWyULRGRVDXGLWRUHVLQGHSHQGHQWHVVREUHDVHPRQVWUDo}HVFRQWiEHLV±$RV$GPLQLVWUDGRUHVH$FLRQLVWDVGD6mR3HGURGR/DJR
%1'(6
DDDFLPDGD7-/3
6$5HFLIH3(([DPLQDPRVDVGHPRQVWUDo}HVFRQWiEHLVGD6mR3HGURGR/DJR6$ ³&RPSDQKLD´ TXHFRPSUHHQGHPREDODQoR
SDWULPRQLDO HP GH GH]HPEUR GH H DV UHVSHFWLYDV GHPRQVWUDo}HV
&LUFXODQWH
GR UHVXOWDGR GR UHVXOWDGR DEUDQJHQWH GDV PXWDo}HV GR
SDWULP{QLROtTXLGRHGRVIOX[RVGHFDL[DSDUDRH[HUFtFLRILQGRQDTXHODGDWDLQFOXLQGRRUHVXPRGDVSULQFLSDLVSUiWLFDVFRQWiEHLVHGHPDLV
1mR&LUFXODQWH
(VWHILQDQFLDPHQWRWHPSUD]RGHDPRUWL]DomRHP FHQWRHQRYHQWDHGXDV SDUFHODVPHQVDLVHQWUHRVDQRVGHH HHVWi QRWDV H[SOLFDWLYDV 5HVSRQVDELOLGDGH GD $GPLQLVWUDomR VREUH DV GHPRQVWUDo}HV FRQWiEHLV $$GPLQLVWUDomR GD &RPSDQKLD p
JDUDQWLGRSRUFRQWUDWRGHFHVVmRILGXFLiULDGHGLUHLWRVDGPLQLVWUDomRGHFRQWDVHRXWUDVDYHQoDVHFDUWDGHILDQoDHPLWLGDSHOREDQFR,WD~ UHVSRQViYHOSHODHODERUDomRHDGHTXDGDDSUHVHQWDomRGHVVDVGHPRQVWUDo}HVFRQWiEHLVFRPDVSUiWLFDVFRQWiEHLVDGRWDGDVQR%UDVLO
DOpPGRVDOGRGDVDSOLFDo}HVILQDQFHLUDVGLYXOJDGDVQD1RWD2VMXURVSDJRVVREUHHPSUpVWLPRVHILQDQFLDPHQWRVIRUDPFODVVLILFDGRV DVVLPFRPRSHORVFRQWUROHVLQWHUQRVTXHHODGHWHUPLQRXFRPRQHFHVViULRVSDUDSHUPLWLUDHODERUDomRGHGHPRQVWUDo}HVFRQWiEHLVOLYUHVGH
FRPRDWLYLGDGHGHILQDQFLDPHQWRVQDGHPRQVWUDomRGRVIOX[RVGHFDL[D
GLVWRUomR UHOHYDQWH LQGHSHQGHQWHPHQWH VH FDXVDGD SRU HUUR RX IUDXGH 5HVSRQVDELOLGDGH GRV DXGLWRUHV LQGHSHQGHQWHV 1RVVD
$VSDUFHODVYLQFHQGDVDORQJRSUD]RDSUHVHQWDPRVHJXLQWHFURQRJUDPDGHYHQFLPHQWR
UHVSRQVDELOLGDGHpDGHH[SUHVVDUXPDRSLQLmRVREUHHVVDVGHPRQVWUDo}HVFRQWiEHLVFRPEDVHHPQRVVDDXGLWRULDFRQGX]LGDGHDFRUGR
$QR
FRPDVQRUPDVEUDVLOHLUDVHLQWHUQDFLRQDLVGHDXGLWRULD(VVDVQRUPDVUHTXHUHPRFXPSULPHQWRGHH[LJrQFLDVpWLFDVSHORVDXGLWRUHVHTXH
DDXGLWRULDVHMDSODQHMDGDHH[HFXWDGDFRPRREMHWLYRGHREWHUVHJXUDQoDUD]RiYHOGHTXHDVGHPRQVWUDo}HVFRQWiEHLVHVWmROLYUHVGH
GLVWRUomRUHOHYDQWH8PDDXGLWRULDHQYROYHDH[HFXomRGHSURFHGLPHQWRVVHOHFLRQDGRVSDUDREWHQomRGHHYLGrQFLDDUHVSHLWRGRVYDORUHVH
GLYXOJDo}HVDSUHVHQWDGRVQDVGHPRQVWUDo}HVFRQWiEHLV2VSURFHGLPHQWRVVHOHFLRQDGRVGHSHQGHPGRMXOJDPHQWRGRDXGLWRULQFOXLQGRD
DYDOLDomRGRVULVFRVGHGLVWRUomRUHOHYDQWHQDVGHPRQVWUDo}HVFRQWiEHLVLQGHSHQGHQWHPHQWHVHFDXVDGDSRUIUDXGHRXHUUR1HVVD
DYDOLDomRGHULVFRVRDXGLWRUFRQVLGHUDRVFRQWUROHVLQWHUQRVUHOHYDQWHVSDUDDHODERUDomRHDGHTXDGDDSUHVHQWDomRGDVGHPRQVWUDo}HV
$SyV
FRQWiEHLVGD&RPSDQKLDSDUDSODQHMDURVSURFHGLPHQWRVGHDXGLWRULDTXHVmRDSURSULDGRVQDVFLUFXQVWkQFLDVPDVQmRSDUDILQVGH
H[SUHVVDUXPDRSLQLmRVREUHDHILFiFLDGHVVHVFRQWUROHVLQWHUQRVGD&RPSDQKLD8PDDXGLWRULDLQFOXLWDPEpPDDYDOLDomRGDDGHTXDomR
GDV SUiWLFDV FRQWiEHLV XWLOL]DGDV H D UD]RDELOLGDGH GDV HVWLPDWLYDV FRQWiEHLV IHLWDV SHOD $GPLQLVWUDomR EHP FRPR D DYDOLDomR GD
3URYLVmRSDUDGHVPRELOL]DomR$&RPSDQKLDSRVVXLREULJDomR 2XWUDVFRQWDVDSDJDU
DSUHVHQWDomR GDV GHPRQVWUDo}HV FRQWiEHLV WRPDGDV HP FRQMXQWR $FUHGLWDPRV TXH D HYLGrQFLD GH DXGLWRULD REWLGD p VXILFLHQWH H
GHUHWLUDGDGHDWLYRVGHFRUUHQWHVGHH[LJrQFLDVFRQWUDWXDLVHOHJDLV
DSURSULDGD SDUD IXQGDPHQWDU QRVVD RSLQLmR 2SLQLmR (P QRVVD RSLQLmR DV GHPRQVWUDo}HV FRQWiEHLV DFLPD UHIHULGDV DSUHVHQWDP
2 SDVVLYR IRL LQLFLDOPHQWH PHQVXUDGR DR MXVWR YDORU H
UHDSUHVHQWDGR
DGHTXDGDPHQWHHPWRGRVRVDVSHFWRVUHOHYDQWHVDSRVLomRSDWULPRQLDOHILQDQFHLUDGD6mR3HGURGR/DJR6$HPGHGH]HPEURGH
SRVWHULRUPHQWHpDMXVWDGDDYDORUSUHVHQWHHPXGDQoDVQRYDORURX 3URYLVmRSDUDHQHUJLD
QD WHPSHVWLYLGDGH GRV IOX[RV GH FDL[D HVWLPDGRV 2V FXVWRV GH FRQWUDWDGD 1RWDD
RGHVHPSHQKRGHVXDVRSHUDo}HVHRVVHXVIOX[RVGHFDL[DSDUDRH[HUFtFLRILQGRQDTXHODGDWDGHDFRUGRFRPDVSUiWLFDVFRQWiEHLV
GHVPRELOL]DomR GR DWLYR VmR FDSLWDOL]DGRV FRPR SDUWH GR YDORU 2XWURV
DGRWDGDVQR%UDVLO2XWURVDVVXQWRV5HDSUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLV([DPLQDPRVDVGHPRQVWUDo}HVFRQWiEHLVGD
FRQWiELOGRDWLYRUHODFLRQDGRHVHUmRDPRUWL]DGRVDRORQJRGDYLGD~WLO
&RPSDQKLD RULJLQDOPHQWH DSUHVHQWDGDV FRUUHVSRQGHQWHV DRV H[HUFtFLRV ILQGRV HP GH GH]HPEUR GH H VREUH DV TXDLV
UHPDQHVFHQWHGRDWLYR3DUDGHWHUPLQDomRGRDMXVWHDYDORUSUHVHQWH &LUFXODQWH
HPLWLPRVUHODWyULRVVHPPRGLILFDo}HVGDWDGRVGHGHPDUoRGHHGHDEULOGHUHVSHFWLYDPHQWH&RQIRUPHPHQFLRQDGRQD
GDSURYLVmRSDUDGHVPRELOL]DomRIRLXWLOL]DGDDWD[DGHGHVFRQWRGH
1mRFLUFXODQWH
QRWDH[SOLFDWLYDHPGHFRUUrQFLDGDFRUUHomRGHHUURVHVVDVGHPRQVWUDo}HVFRQWiEHLVHVWmRVHQGRUHDSUHVHQWDGDVVHPPRGLILFDU
QRVVDVRSLQL}HVHPLWLGDVDQWHULRUPHQWH5HFLIH 3( GHPDLRGH(5167 <281*$XGLWRUHV,QGHSHQGHQWHV66&5&63
DD
2)3()UDQFLVFRGD6LOYD3LPHQWHO&RQWDGRU&5&63273(
(74931)