DOEPE 31/03/2016 - Pág. 47 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 31 de março de 2016
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCIII • NÀ 58 - 47
0866$0%Ç(1(5*e7,&$6$&13-1 ±5HODWyULRGD'LUHWRULD±6HQKRUHV$FLRQLVWDV HP FXVWRVGHWUDQVDomRTXHVHMDPGLUHWDPHQWHDWULEXtYHLVjVXDDTXLVLomRRXHPLVVmRH[FHWRQRFDVRGHDWLYRVHSDVVLYRVILQDQFHLURVFODVVLILFDGRVQD
FXPSULPHQWRDRVSUHFHLWRVOHJDLVHHVWDWXWiULRVVXEPHWHPRVjDSUHFLDomRGH96DVDV'HPRQVWUDo}HV&RQWiEHLVUHIHUHQWHVDR FDWHJRULDDRYDORUMXVWRSRUPHLRGRUHVXOWDGRRQGHWDLVFXVWRVVmRGLUHWDPHQWHODQoDGRVQRUHVXOWDGRGRH[HUFtFLR6XDPHQVXUDomRVXEVHTXHQWH
H[HUFtFLRVRFLDOILQGRHPSHUPDQHFHQGRjGLVSRVLomRSDUDSUHVWDURVHVFODUHFLPHQWRVQHFHVViULRV5HFLIH±3($ RFRUUHDFDGDGDWDGHEDODQoRGHDFRUGRFRPDVUHJUDVHVWDEHOHFLGDVSDUDFDGDWLSRGHFODVVLILFDomRGHDWLYRVHSDVVLYRVILQDQFHLURVHP L DWLYRVH
SDVVLYRVILQDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGR LL PDQWLGRVDWpRYHQFLPHQWR LLL HPSUpVWLPRVHUHFHEtYHLV H LY GLVSRQtYHLV
'LUHWRULD
SDUDYHQGD2SULQFLSDODWLYRILQDQFHLURUHFRQKHFLGRSHOD&RPSDQKLDpFDL[DHHTXLYDOHQWHVGHFDL[D2VSULQFLSDLVSDVVLYRVILQDQFHLURVUHFRQKHFLGRV
'HPRQVWUDo}HVGRVUHVXOWDGRVDEUDQJHQWHV
%DODQoRVSDWULPRQLDLVGHGH]HPEURGHH
SHOD&RPSDQKLDVmR FRQWDVDSDJDUDIRUQHFHGRUHVHHPSUpVWLPRVHILQDQFLDPHQWRV&DL[DHHTXLYDOHQWHVGHFDL[D2VHTXLYDOHQWHVGHFDL[DVmR
3HUtRGRVILQGRVHPGHGH]HPEURGHH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
PDQWLGRVFRPDILQDOLGDGHGHDWHQGHUDFRPSURPLVVRVGHFDL[DGHFXUWRSUD]RHQmRSDUDLQYHVWLPHQWRRXRXWURVILQV $&RPSDQKLDFRQVLGHUD
1RWD
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
HTXLYDOHQWHVGHFDL[DXPDDSOLFDomRILQDQFHLUDGHFRQYHUVLELOLGDGHLPHGLDWDFRPSUD]RGHYHQFLPHQWRLQIHULRUD QRYHQWD GLDVHPXPPRQWDQWH
$WLYR
FRQKHFLGRGHFDL[DHHVWDQGRVXMHLWDDXPLQVLJQLILFDQWHULVFRGHPXGDQoDGHYDORU3RUFRQVHJXLQWHXPLQYHVWLPHQWRQRUPDOPHQWHVHTXDOLILFDFRPR
/XFUROtTXLGR SUHMXt]R GRSHUtRGR
&LUFXODQWH
HTXLYDOHQWHGHFDL[DTXDQGRWHPYHQFLPHQWRGHFXUWRSUD]RSRUH[HPSORWUrVPHVHVRXPHQRVDFRQWDUGDGDWDGDFRQWUDWDomR,PRELOL]DGR6mR
2XWURVUHVXOWDGRVDEUDQJHQWHV
&DL[DHHTXLYDOHQWHVGHFDL[D
DSUHVHQWDGRVDRFXVWRGHDTXLVLomRRXFRQVWUXomRGHGX]LGRVGDGHSUHFLDomRDFXPXODGDHGHTXDLVTXHUSHUGDVDFXPXODGDVSRUUHGXomRDRYDORU
5HVXOWDGRDEUDQJHQWHGRSHUtRGR
&RQWDVDUHFHEHU
UHFXSHUiYHOVHIRURFDVR2UHIHULGRFXVWRLQFOXLRFXVWRGHUHSRVLomRGHSDUWHGRLPRELOL]DGRHRVFXVWRVGHHPSUpVWLPRGHSURMHWRVGHFRQVWUXomRGH
,PSRVWRVDUHFXSHUDU
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
ORQJRSUD]RTXDQGRRVFULWpULRVGHUHFRQKHFLPHQWRIRUHPVDWLVIHLWRV7RGRVRVFXVWRVGHUHSDURVHPDQXWHQomRVmRUHFRQKHFLGRVQDGHPRQVWUDomRGR
2XWURVFUpGLWRV
GDVGHPRQVWUDo}HVFRQWiEHLV
UHVXOWDGRTXDQGRLQFRUULGRV $ GHSUHFLDomRGRVEHQVp FDOFXODGDSHORPpWRGROLQHDUjV WD[DVPHQFLRQDGDVQD 1RWD GHILQLGDVSRUPHLRGH
7RWDOGRDWLYRFLUFXODQWH
'HPRQVWUDo}HVGRVIOX[RVGHFDL[D
UHJXODPHQWDomRGD$1((/DVTXDLVOHYDPHPFRQVLGHUDomRRWHPSRGHYLGD~WLOHVWLPDGRGRVEHQV &XVWRVGHHPSUpVWLPRV&XVWRVGH
3HUtRGRVILQGRVHPGHGH]HPEURGHH
HPSUpVWLPRVGLUHWDPHQWHUHODFLRQDGRVFRPDDTXLVLomRFRQVWUXomRRXSURGXomRGHXPDWLYRTXHQHFHVVDULDPHQWHUHTXHUXPWHPSRVLJQLILFDWLYRSDUD
1mRFLUFXODQWH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
VHUFRQFOXtGRSDUDILQVGHXVRRXYHQGDTXDQGRDSOLFiYHOVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWRGRFRUUHVSRQGHQWHDWLYR7RGRVRVGHPDLVFXVWRVGH
,PRELOL]DGR
HPSUpVWLPRV VmR UHJLVWUDGRV FRPR GHVSHVD QR SHUtRGR HP TXH VmR LQFRUULGRV &XVWRV GH HPSUpVWLPR FRPSUHHQGHP MXURV H RXWURV HQFDUJRV
7RWDOGRDWLYRQmRFLUFXODQWH
)OX[RGHFDL[DGDVDWLYLGDGHVRSHUDFLRQDLV
ILQDQFHLURVLQFRUULGRVUHODWLYRV DR HPSUpVWLPR 3HUGD SRU UHGXomR DR YDORU UHFXSHUiYHOGH DWLYRV QmR ILQDQFHLURV $$GPLQLVWUDomRUHYLVD
/XFUROtTXLGR SUHMXt]R GRSHUtRGR
DQXDOPHQWHR YDORUFRQWiELOOtTXLGRGRVDWLYRVFRPR REMHWLYRGHDYDOLDUHYHQWRVRXPXGDQoDVQDVFLUFXQVWkQFLDVHFRQ{PLFDVRSHUDFLRQDLVRX
7RWDOGRDWLYR
WHFQROyJLFDVTXHSRVVDPLQGLFDUSHUGDGHVHXYDORUUHFXSHUiYHO 6HQGRWDLVHYLGrQFLDVLGHQWLILFDGDVHRYDORUFRQWiELOOtTXLGRH[FHGHURYDORU
$FUpVFLPR GHFUpVFLPRGHDWLYRV
UHFXSHUiYHOpUHFRQKHFLGDXPDSHUGDHVWLPDGDSHODGHVYDORUL]DomRGRDWLYRDMXVWDQGRRYDORUFRQWiELOOtTXLGRDRYDORUUHFXSHUiYHO3URYLV}HV
3DVVLYR
,PSRVWRVDUHFXSHUDU
3URYLV}HVVmRUHFRQKHFLGDVTXDQGR L D&RPSDQKLDWHPXPDREULJDomRSUHVHQWH OHJDORXQmRIRUPDOL]DGD HPFRQVHTXrQFLDGHXPHYHQWRSDVVDGR
&LUFXODQWH
9DORUDUHFHEHU
LL pSURYiYHOTXHEHQHItFLRVHFRQ{PLFRVVHMDPUHTXHULGRVSDUDOLTXLGDUDREULJDomR H LLL XPDHVWLPDWLYDFRQILiYHOGRYDORUGDREULJDomRSRVVDVHU
)RUQHFHGRUHV
$GLDQWDPHQWRDIRUQHFHGRUHV
IHLWD$GHVSHVDUHODWLYDDRUHFRQKHFLPHQWRGHTXDOTXHUSURYLVmRpDSUHVHQWDGDQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR3URYLV}HVSDUDULVFRV
(PSUpVWLPRVHILQDQFLDPHQWRV
2XWURVFUpGLWRV
WULEXWiULRVFtYHLVHWUDEDOKLVWDV$&RPSDQKLDQmRSRVVXLFRQWLQJrQFLDVFXMDDYDOLDomRGDVH[SHFWDWLYDVGHSHUGDVGHVHXVDVVHVVRUHVMXUtGLFRVVHMD
6DOiULRVHHQFDUJRVVRFLDLV
³SURYiYHO´$VVLPQHQKXPDSURYLVmRSDUDSHUGDVIRLFRQVWLWXtGDHPH3URYLVmRSDUDGHVPRELOL]DomRGHDWLYRVLPRELOL]DGRV$SURYLVmR
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
$FUpVFLPR GHFUpVFLPR GHSDVVLYRV
SDUDGHVPRELOL]DomRGHDWLYRVLPRELOL]DGRVpFRQWDELOL]DGDGHDFRUGRFRPD1%&7*±3URYLV}HV3DVVLYRV&RQWLQJHQWHVH$WLYRV&RQWLQJHQWHVHD
'LYLGHQGRVDSDJDU
)RUQHFHGRUHV
,7*±0XGDQoDVHP3DVVLYRVSRU'HVDWLYDomR5HVWDXUDomRH2XWURV3DVVLYRV6LPLODUHVHGLWDGDVSHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGH&)&
2XWUDVFRQWDVDSDJDU
3DUWHVUHODFLRQDGDV
$VSURYLV}HVGD&RPSDQKLDUHIHUHPVHjREULJDomROHJDOHIRUDPGHWHUPLQDGDVFRPEDVHQRVFXVWRVHVWLPDGRVDLQFRUUHUQDGHVPRQWDJHPHUHPRomR
7RWDOGRSDVVLYRFLUFXODQWH
6DOiULRVHHQFDUJRVVRFLDLV
GRVDHURJHUDGRUHVH REUDVFLYLVTXDQGRGRWpUPLQRGRFRQWUDWRGHDUUHQGDPHQWRGDVWHUUDVUXUDLV -XOJDPHQWRVHVWLPDWLYDVH SUHPLVVDV
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
FRQWiEHLV VLJQLILFDWLYRV $V GHPRQVWUDo}HV FRQWiEHLV IRUDP HODERUDGDV FRP EDVH HP GLYHUVDV EDVHV GH DYDOLDomR XWLOL]DGDV QDV HVWLPDWLYDV
1mRFLUFXODQWH
2XWUDVFRQWDVDSDJDU
FRQWiEHLV$VHVWLPDWLYDVFRQWiEHLVHQYROYLGDVQDSUHSDUDomRGDVGHPRQVWUDo}HVFRQWiEHLVIRUDPEDVHDGDVHPIDWRUHVREMHWLYRVHVXEMHWLYRVFRP
)RUQHFHGRUHV
EDVHQRMXOJDPHQWRGD$GPLQLVWUDomRSDUDGHWHUPLQDomRGRYDORUDGHTXDGRDVHUUHJLVWUDGRQDVGHPRQVWUDo}HVFRQWiEHLV,WHQVVLJQLILFDWLYRVVXMHLWRV
(PSUpVWLPRVHILQDQFLDPHQWRV
&DL[DOtTXLGRJHUDGRSHODVDWLYLGDGHV
DHVVDVHVWLPDWLYDVHSUHPLVVDVLQFOXHPDVHOHomRGHYLGDV~WHLVGRDWLYRLPRELOL]DGRHGHVXDUHFXSHUDELOLGDGHQDVRSHUDo}HVDYDOLDomRGRVDWLYRV
3URYLVmRSDUDGHVPRELOL]DomR
RSHUDFLRQDLV
ILQDQFHLURV SHOR YDORU MXVWR DQiOLVH GRV GHPDLV ULVFRV SDUD GHWHUPLQDomR GH RXWUDV SURYLV}HV LQFOXVLYH SDUD FRQWLQJrQFLDV$ OLTXLGDomR GDV
7RWDOGRSDVVLYRQmRFLUFXODQWH
WUDQVDo}HVHQYROYHQGRHVVDVHVWLPDWLYDVSRGHUiUHVXOWDUHPYDORUHVVLJQLILFDWLYDPHQWHGLYHUJHQWHVGRVUHJLVWUDGRVQDVGHPRQVWUDo}HVFRQWiEHLV
)OX[RGHFDL[DGDVDWLYLGDGHVGH
GHYLGRDRWUDWDPHQWRSUREDELOtVWLFRLQHUHQWHDRSURFHVVRGHHVWLPDWLYD$&RPSDQKLDUHYLVDVXDVHVWLPDWLYDVHSUHPLVVDVSHORPHQRVDQXDOPHQWH
3DWULP{QLROtTXLGR
LQYHVWLPHQWR
&DSLWDOVRFLDO
$SOLFDomRGHUHFXUVRVQRLPRELOL]DGR
5HVHUYDGHOXFURV
&DL[DVHHTXLYDOHQWHVGHFDL[D
&DL[DOtTXLGRDSOLFDGRQDVDWLYLGDGHVGH
3UHMXt]RVDFXPXODGRV
LQYHVWLPHQWR
&DL[D
$V DSOLFDo}HV ILQDQFHLUDV UHIHUHPVH VXEVWDQFLDOPHQWH D RSHUDo}HV
7RWDOGRSDWULP{QLROtTXLGR
FRPSURPLVVDGDVFRPUHPXQHUDo}HVTXHYDULDPHQWUHHGDWD[DGH&',
&RQWDVFRUUHQWHVEDQFiULDV
7RWDOGRSDVVLYRHGRSDWULP{QLROtTXLGR
)OX[RGHFDL[DGDVDWLYLGDGHVGH
(VVDVRSHUDo}HVSRVVXHPOLTXLGH]FRPSUD]RLQIHULRUD GLDV
$SOLFDo}HVILQDQFHLUDV
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
ILQDQFLDPHQWR
GDVGHPRQVWUDo}HVFRQWiEHLV
,QJUHVVRGHHPSUpVWLPRVHILQDQFLDPHQWRV
,PRELOL]DGR&RPSRVLomRHPRYLPHQWDomRGRVDOGR
'HPRQVWUDo}HVGRVUHVXOWDGRVSHUtRGRVILQGRVHP
$PRUWL]DomRGHHPSUpVWLPRVH
7D[DDQXDOGH 6DOGRHP
6DOGRHP
GHGH]HPEURGHH 9DORUHVH[SUHVVRVHP
ILQDQFLDPHQWRV
'HVFULomR
GHSUHFLDomR
$GLo}HV 7UDQVIHUrQFLDV 'XUDQWHRH[HUFtFLRGH
PLOKDUHVGHUHDLVH[FHWRROXFUR SUHMXt]R SRUDomR
3DJDPHQWRGHMXURVGHHPSUpVWLPRVH
&XVWRFRQWiELO
1RWDV
D &RPSDQKLD DSURSULRX DR
ILQDQFLDPHQWRV
,PRELOL]DGRHPRSHUDomR
5HFHLWDRSHUDFLRQDOOtTXLGD
LPRELOL]DGRRPRQWDQWHGH5
$XPHQWRGRFDSLWDOVRFLDO
7HUUHQRV
&XVWRFRPDYHQGDGHHQHUJLD
UHIHUHQWHDMXURVVREUH
&DL[DOtTXLGRJHUDGRSHODVDWLYLGDGHVGH
HPSUpVWLPRVFDUDFWHUL]DGRV
0iTXLQDVHHTXLSDPHQWRV
/XFUREUXWR
ILQDQFLDPHQWR
&RPSXWDGRUHVHSHULIpULFRV
F R P R F D S L W D O L ] i Y H L V
'HVSHVDVRSHUDFLRQDLV
FRQIRUPH 1%& 7*
9HtFXORV
*HUDLVHDGPLQLVWUDWLYDV
$FUpVFLPR GHFUpVFLPR GHFDL[DH
&XVWRVGH(PSUpVWLPRV3RU
6RIWZDUH
/XFUR SUHMXt]R DQWHVGDVGHVSHVDV
HTXLYDOHQWHVGHFDL[D
0yYHLVHXWHQVtOLRV
QmR PRYLPHQWDU FDL[D HVWH
ILQDQFHLUDV
D
PRQWDQWH QmR HVWi LQFOXtGR
(GLILFDo}HVREUDVFLYLVHEHQIHLWRULDV
'HVSHVDVILQDQFHLUDV
'HPRQVWUDomRGRDFUpVFLPR GHFUpVFLPR QR
,PRELOL]DGRHPDQGDPHQWR
QDV DWLYLGDGHV GH
FDL[DHHTXLYDOHQWHVGHFDL[D
LQYHVWLPHQWR QD
%HQVHGLUHLWRVHPFRQVWUXomR
/XFUR SUHMXt]R DQWHVGRLPSRVWRGH
1RILQDOGRSHUtRGR
$GLDQWDPHQWRVDIRUQHFHGRUHV
GHPRQVWUDomR GRV IOX[RV GH
UHQGDHFRQWULEXLomRVRFLDO
1RLQtFLRGRSHUtRGR
7RWDOGRFXVWR
FDL[D
,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO
$FUpVFLPR GHFUpVFLPR QRFDL[DH
7RWDOGHGHSUHFLDomRDFXPXODGD
/XFUROtTXLGR SUHMXt]R GRSHUtRGR
HTXLYDOHQWHVGHFDL[D
7RWDOGRLPRELOL]DGR
4XDQWLGDGHGHDo}HV
/XFUR SUHMXt]R SRUDomRHP5HDLV
)RUQHFHGRUHV
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
2 VDOGR GH IRUQHFHGRUHV UHIHUHVH EDVLFDPHQWH jV FRPSUDV GH )RUQHFHGRUHV
GDVGHPRQVWUDo}HVFRQWiEHLV
GDVGHPRQVWUDo}HVFRQWiEHLV
PDWHULDLV H j FRQWUDWDomR GH VHUYLoRV SDUD FRQVWUXomR GR SDUTXH
'HPRQVWUDo}HVGDVPXWDo}HVGRSDWULP{QLROtTXLGRSHUtRGRVILQGRVHPGHGH]HPEURGHH
&LUFXODQWH
HyOLFR
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
1mRFLUFXODQWH
'LYLGHQGRV
/XFURV
(PSUpVWLPRVHILQDQFLDPHQWRV
DGLFLRQDLV
SUHMXt]RV
5HVHUYD
&DSLWDO
-XURVH 6DOGRHP
6DOGRHP
SURSRVWRV DFXPXODGRV 7RWDO
OHJDO
VRFLDO
'HVFULomR
(QFDUJRVLQFLGHQWHV
&DSWDo}HV HQFDUJRV (VWH ILQDQFLDPHQWR WHP SUD]R GH
1RWDV
0RHGDQDFLRQDO
6DOGRHPGHGH]HPEURGH
DPRUWL]DomR HP FHQWR H
)LQDQFLDPHQWRGHORQJRSUD]R DDDFLPDGD7-/3
$XPHQWRGHFDSLWDO
QRYHQWD H GRLV SDUFHODV PHQVDLV
3UHMXt]RGRSHUtRGR
HQWUHRVDQRVGHHHHVWi
6DOGRHPGHGH]HPEURGH
JDUDQWLGR SRU FRQWUDWR GH FHVVmR
&LUFXODQWH
1mRFLUFXODQWH
$XPHQWRGHFDSLWDO
ILGXFLiULDGHGLUHLWRVDGPLQLVWUDomR
/XFUROtTXLGRGRSHUtRGR
GHFRQWDVHRXWUDVDYHQoDV
'HVWLQDomRGROXFUR
$V SDUFHODV YLQFHQGDV D ORQJR SUD]R DSUHVHQWDP R VHJXLQWH 3URYLVmR SDUD GHVPRELOL]DomR $ &RPSDQKLD SRVVXL REULJDomR GH
&RQVWLWXLomRGHUHVHUYDOHJDO
FURQRJUDPDGHYHQFLPHQWR
'LVWULEXLomRGHGLYLGHQGRVPtQLPRVREULJDWyULRV
UHWLUDGDGHDWLYRVGHFRUUHQWHVGHH[LJrQFLDVFRQWUDWXDLVHOHJDLV2SDVVLYR
$QR
'LVWULEXLomRGHGLYLGHQGRVDGLFLRQDLV
IRLLQLFLDOPHQWHPHQVXUDGRDRMXVWRYDORUHSRVWHULRUPHQWHpDMXVWDGDD
6DOGRHPGHGH]HPEURGH
YDORUSUHVHQWHHPXGDQoDVQRYDORURXQDWHPSHVWLYLGDGHGRVIOX[RVGH
FDL[DHVWLPDGRV2VFXVWRVGHGHVPRELOL]DomRGRDWLYRVmRFDSLWDOL]DGRV
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
FRPRSDUWHGRYDORUFRQWiELOGRDWLYRUHODFLRQDGRHVHUmRDPRUWL]DGRVDR
GDVGHPRQVWUDo}HVFRQWiEHLV
ORQJRGDYLGD~WLOUHPDQHVFHQWHGRDWLYR3DUDGHWHUPLQDomRGRDMXVWHD
1RWDV H[SOLFDWLYDV jV GHPRQVWUDo}HV FRQWiEHLV GH GH]HPEUR GH H 9DORUHV H[SUHVVRV HP PLOKDUHV GH UHDLV
YDORU SUHVHQWH GD SURYLVmR SDUD GHVPRELOL]DomR IRL XWLOL]DGD D WD[D GH
,QIRUPDo}HVVREUHD&RPSDQKLDD 2EMHWRVRFLDO$0XVVDPEr(QHUJpWLFD6$ ³&RPSDQKLD´ pXPDVRFLHGDGHSRUDo}HVGH
GHVFRQWRGHDD
FDSLWDOIHFKDGRFRPVHGHQDFLGDGHGR5HFLIH3(FRQVWLWXtGDHPGHQRYHPEURGHHTXHWHPFRPRREMHWRVRFLDODJHUDomR $SyV
H D FRPHUFLDOL]DomR GH HQHUJLD HyOLFD FRP DSURYHLWDPHQWR GH UHFXUVRV HyOLFRV SURYHQLHQWHV GR 3DUTXH (yOLFR GHQRPLQDGR
³0XVVDPEr´EHPFRPRDFRPHUFLDOL]DomRGHFUpGLWRVGHFDUERQRQRVPROGHVSUHYLVWRVQR3URWRFRORGH.\RWR(PGHDJRVWR 3DWULP{QLROtTXLGRD &DSLWDOVRFLDO2FDSLWDOVRFLDOVXEVFULWRHWRWDOPHQWHLQWHJUDOL]DGRHPGHGH]HPEURGHHpUHSUHVHQWDGRSRU
GHD&RPSDQKLDREWHYHSRUPHLRGHSDUWLFLSDomRQR/HLOmRQUHDOL]DGRSHOD$JrQFLD1DFLRQDOGH(QHUJLD(OpWULFD Do}HVRUGLQiULDVQRPLQDWLYDVHVHPYDORUQRPLQDO2VDOGRHPGHGH]HPEURGHHpGH5 5 GLVWULEXtGR
$1((/ R GLUHLWR GH FRPHUFLDOL]DU HQHUJLD GH UHVHUYD SURYHQLHQWH GH HPSUHHQGLPHQWRV GH JHUDomR D SDUWLU GH IRQWH HyOLFD GDVHJXLQWHIRUPD
$FLRQLVWDV
$o}HV
GHVWLQDGDDR6LVWHPD,QWHUOLJDGR1DFLRQDO6,1QR$PELHQWHGH&RQWUDWDomR5HJXODGD$&5SDUDLQtFLRGHVXSULPHQWRGHHQHUJLD
%UHQQDQG(QHUJLD6$
&DGDDomRRUGLQiULDGiGLUHLWRDXPYRWRQDV$VVHPEOHLDV*HUDLV(PH
HOpWULFDDSDUWLUGHGHVHWHPEURGH(PD$GPLQLVWUDomRGD&RPSDQKLDREWHYHD/LFHQoD,QVWDODomR /, GHILQLWLYD$
&RPSDQKLD+LGUR(OpWULFDGR6mR)UDQFLVFR&+(6)
GHGH]HPEURGHRVDFLRQLVWDVDXPHQWDUDPRFDSLWDOVRFLDOQR
&RPSDQKLD LQLFLRX D RSHUDomR FRPHUFLDO GRV VHXV TXDWRU]H DHURJHUDGRUHV DR ORQJR GR ~OWLPR TXDGULPHVWUH GH E
%UHQQDQG(QHUJLD(yOLFD6$
PRQWDQWHGH5 WRWDOPHQWHLQWHJUDOL]DGRVHPPRHGDFRUUHQWH
&DSDFLGDGHGHSURGXomRHFRPHUFLDOL]DomRGHHQHUJLDHOpWULFD$3RUWDULD$XWRUL]DWLYDQHPLWLGDSHOR0LQLVWpULRGH0LQDVH
QDSURSRUomRGHVXDVSDUWLFLSDo}HVFRQIRUPHGHOLEHUDo}HVWRPDGDVHP
(QHUJLD00(HPDXWRUL]RXD&RPSDQKLDHVWDEHOHFHUVHFRPR³3URGXWRU,QGHSHQGHQWHGH(QHUJLD(OpWULFD´PHGLDQWHD
5HXQLmRGR&RQVHOKRGH$GPLQLVWUDomR 5&$ HHP$VVHPEOHLD*HUDO([WUDRUGLQiULD $*( (PGHIHYHUHLURGHRVDFLRQLVWDVDSURYDUDPSRU
LPSODQWDomRHH[SORUDomRGD&HQWUDO*HUDGRUD(yOLFDGHQRPLQDGD³(2/0XVVDPEr´DVHULQVWDODGDQRPXQLFtSLRGH6HQWR6p
PHLRGH$VVHPEOHLD*HUDO([WUDRUGLQiULD $*( DXPHQWRGHFDSLWDOVRFLDOQRPRQWDQWHGH5 $VDFLRQLVWDV%UHQQDQG(QHUJLD6$H%UHQQDQG
HVWDGR GD %DKLD FRP SRWrQFLD GH .: GH FDSDFLGDGH LQVWDODGD H .: PpGLRV GH JDUDQWLD ItVLFD GH HQHUJLD
(QHUJLD(yOLFD6$LQWHJUDOL]DUDPDVXDSDUWLFLSDomRSRUPHLRGHWUDQVIHUrQFLDGHDWLYRVDYDOLDGRVDYDORUFRQWiELOFRQIRUPHODXGRGHDYDOLDomR
FRQVWLWXtGDGHRQ]HXQLGDGHVJHUDGRUDVGH.:(PGHMXQKRGHKRXYHDXPHQWRGDSRWrQFLDSDUD 0:GH
HPLWLGRHPGHDJRVWRGH $DFLRQLVWD&+(6)LQWHJUDOL]RXDVXDSDUFHODQRDXPHQWRGRFDSLWDOHPPRHGDFRUUHQWHQDSURSRUomRGHVXD
FDSDFLGDGH LQVWDODGD FRQWLQXDQGR FRP .: PpGLRV GH JDUDQWLD ItVLFD GH HQHUJLD FRQVWLWXtGD GH TXDWRU]H XQLGDGHV
SDUWLFLSDomR E &DSLWDO DXWRUL]DGR $ &RPSDQKLD SRGHUi PHGLDQWH GHOLEHUDomR GR &RQVHOKR GH $GPLQLVWUDomR DXPHQWDU R FDSLWDO VRFLDO
JHUDGRUDVGH0:FRQIRUPHD5HVROXomR$XWRUL]DWLYDQ$SUHVHQWHDXWRUL]DomRWHPYLJrQFLDSRUXPSHUtRGRGH
LQGHSHQGHQWHPHQWHGHUHIRUPDHVWDWXWiULDDWpROLPLWHGH5HPLWLQGRSURSRUFLRQDOPHQWHDVDo}HVFRUUHVSRQGHQWHVDRFDSLWDOVRFLDO
DQRV$SUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVHVXPiULRVGDVSUiWLFDVFRQWiEHLV$VGHPRQVWUDo}HVFRQWiEHLV
F 5HVHUYDOHJDO6HUiFRQVWLWXtGDjUD]mRGHGROXFUROtTXLGRDSXUDGRHPFDGDH[HUFtFLRVRFLDOQRVWHUPRVGRDUW GD/HLQDWpR
IRUDPSUHSDUDGDVHHVWmRVHQGRDSUHVHQWDGDVGHDFRUGRFRPDVSROtWLFDVFRQWiEHLVDGRWDGDVQR%UDVLOTXHFRPSUHHQGHPRV
OLPLWHGHGRFDSLWDOVRFLDOG 'LYLGHQGRV'HDFRUGRFRPR(VWDWXWRGD&RPSDQKLDpDVVHJXUDGRDRVDFLRQLVWDVGLYLGHQGRVPtQLPRVREULJDWyULRV
GRFXPHQWRVHPLWLGRVSHOR&RPLWrGH3URQXQFLDPHQWRV&RQWiEHLV &3& DSURYDGRVSHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGH
GHVREUHROXFUROtTXLGRGRSHUtRGRDMXVWDGRQDIRUPDGD/HL
&)& FRPR1RUPDV%UDVLOHLUDVGH&RQWDELOLGDGH 1%& $VGHPRQVWUDo}HVFRQWiEHLVGD&RPSDQKLDSDUDRSHUtRGRILQGRHP
GHGH]HPEURGHHIRUDPDXWRUL]DGDVSDUDHPLVVmRHPUHXQLmRGDGLUHWRULDUHDOL]DGDHPGHIHYHUHLURGH 5HFHLWDRSHUDFLRQDOOtTXLGD
&XVWRGDVYHQGDVHGHVSHVDVRSHUDFLRQDLV
5HFRQKHFLPHQWRGHUHFHLWD5HFHLWDGDVRSHUDo}HV$UHFHLWDGHYHQGDGHHQHUJLDpUHFRQKHFLGDQRUHVXOWDGRTXDQGR L VHX
YDORUSRGHVHUPHQVXUDGRGHIRUPDFRQILiYHO LL WRGRVRVULVFRVHEHQHItFLRVLQHUHQWHVjYHQGDGHHQHUJLDVmRWUDQVIHULGRVSDUDR
&XVWRVGDVYHQGDV
FOLHQWH LLL D&RPSDQKLDQmRGHWpPPDLVRFRQWUROHRXDUHVSRQVDELOLGDGHVREUHDYHQGDGHHQHUJLD H LY pSURYiYHOTXHRV )RUQHFLPHQWRGHHQHUJLDHOpWULFD
*HUDLVHDGPLQLVWUDWLYDV
EHQHItFLRVHFRQ{PLFRVVHUmRJHUDGRVjIDYRUGD&RPSDQKLD8PDUHFHLWDQmRpUHFRQKHFLGDVHKiXPDLQFHUWH]DVLJQLILFDWLYD ,PSRVWRVVREUHYHQGDVHRXWUDVGHGXo}HV
TXDQWR D VXD UHDOL]DomR 5HFHLWD GH MXURV 3DUD WRGRV RV LQVWUXPHQWRV ILQDQFHLURV DYDOLDGRV DR FXVWR DPRUWL]DGR H DWLYRV 5HFHLWDRSHUDFLRQDOOtTXLGD
(QFDUJRVGHFRQH[mR
ILQDQFHLURVTXHUHQGHPMXURVFODVVLILFDGRVFRPRGLVSRQtYHLVSDUDYHQGDDUHFHLWDRXGHVSHVDILQDQFHLUDpUHFRQKHFLGDXWLOL]DQGR
6HUYLoRGHWHUFHLURV
VHDWD[DGHMXURVHIHWLYD$UHFHLWDGHMXURVpDSUHVHQWDGDFRPRUHFHLWDILQDQFHLUDQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR
2XWUDVGHVSHVDVOtTXLGDV
7ULEXWDomR,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO$WULEXWDomRVREUHROXFURFRPSUHHQGHRLPSRVWRGHUHQGDHDFRQWULEXLomR
VRFLDORVTXDLVVmRUHJLVWUDGRVFRPEDVHQRSULQFtSLRGDFRPSHWrQFLDHFDOFXODGRVFRQIRUPHOHJLVODomRILVFDOHPYLJRUWHQGRSRU
&RPSURPLVVRV$&RPSDQKLDSRVVXLFRPSURPLVVRVGHFXUWRHORQJRSUD]RVILUPDGRVFRPDHPSUHVD:REEHQ:LQGSRZHU,QG~VWULDH&RPpUFLR
EDVHR³/XFUR3UHVXPLGR´ ,PSRVWRVREUHYHQGDV 5HFHLWDVGHVSHVDVHDWLYRVVmRUHFRQKHFLGRVOtTXLGRVGRVLPSRVWRVVREUH
/WGDHVWDEHOHFLGRVDSDUWLUGDFRQWUDWDomRGHVWD~OWLPDHPGHMDQHLURGHSDUDRIRUQHFLPHQWRGHDHURJHUDGRUHV(1(5&21(
YHQGDVH[FHWR L TXDQGRRVLPSRVWRVVREUHYHQGDVLQFRUULGRVQDFRPSUDGHEHQVRXVHUYLoRVQmRIRUHPUHFXSHUiYHLVRLPSRVWR
.ZFRPVHXVDFHVVyULRVHSHUWHQoDVGHYLGDPHQWHPRQWDGRVHDSWRVSDUDHQWUDUHPHPRSHUDomR2VSUD]RVGRVSDJDPHQWRVDVHUHPHIHWXDGRV
VREUHYHQGDVpUHFRQKHFLGRFRPRSDUWHGRFXVWRGHDTXLVLomRGRDWLYRRXGRLWHPGHGHVSHVDFRQIRUPHRFDVR H LL YDORUHVD
SHOD&RPSDQKLDIRUDPGHILQLGRVHPFURQRJUDPDGHSDJDPHQWRVDQH[RDRFRQWUDWRVHQGRHVWDEHOHFLGRVGHDFRUGRFRPRVPDUFRVSUpHVWDEHOHFLGRV
UHFHEHU H D SDJDU DSUHVHQWDGRV FRQMXQWDPHQWH FRP R YDORU GRV LPSRVWRV VREUH YHQGDV ,QVWUXPHQWRV ILQDQFHLURV 2V
TXHVHLQLFLDUDPFRPRSDJDPHQWRGHGRZQSD\PHQWHPDWpGLDVGDGDWDGDDVVLQDWXUDGRFRQWUDWRDWpDGDWDGDHQWUHJDFRQFOXVmRGDPRQWDJHP
LQVWUXPHQWRV ILQDQFHLURV VRPHQWH VmR UHFRQKHFLGRV D SDUWLU GD GDWD HP TXH D &RPSDQKLD VH WRUQD SDUWH GDV GLVSRVLo}HV
PHFkQLFDGDVWRUUHVQDFHOHVHSiVGRVDHURJHUDGRUHVHILQDOPHQWHDFHLWDomRIRUPDOSHOD&RPSDQKLDGRVDHURJHUDGRUHVPRQWDGRVHDSWRVD
FRQWUDWXDLVGHXPLQVWUXPHQWRILQDQFHLUR4XDQGRUHFRQKHFLGRVVmRLQLFLDOPHQWHUHJLVWUDGRVDRVHXYDORUMXVWRDFUHVFLGRGRV