DOEPE 23/03/2017 - Pág. 29 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 23 de março de 2017
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCIV • NÀ 55 - 29
%$5$Ò1$6,,(1(5*e7,&$6$&13-1±5HODWyULRGD$GPLQLVWUDomR'DQGRFXPSULPHQWRjV FRQWUDWXDLVGHXPLQVWUXPHQWRILQDQFHLUR4XDQGRUHFRQKHFLGRVVmRLQLFLDOPHQWHUHJLVWUDGRVDRVHXYDORUMXVWRDFUHVFLGRGRVFXVWRVGHWUDQVDomRTXH
GHWHUPLQDo}HVOHJDLVHHVWDWXWiULDVVXEPHWHPRVjDSUHFLDomRGRV6HQKRUHV$FLRQLVWDV&OLHQWHV)RUQHFHGRUHVHj6RFLHGDGH VHMDPGLUHWDPHQWHDWULEXtYHLVjVXDDTXLVLomRRXHPLVVmRH[FHWRQRFDVRGHDWLYRVHSDVVLYRVILQDQFHLURVFODVVLILFDGRVQDFDWHJRULDDRYDORUMXVWRSRU
HPJHUDOHVWH5HODWyULRGD$GPLQLVWUDomRHDV'HPRQVWUDo}HV&RQWiEHLVUHIHUHQWHVDRH[HUFtFLRVRFLDOILQGRHP PHLRGRUHVXOWDGRRQGHWDLVFXVWRVVmRGLUHWDPHQWHODQoDGRVQRUHVXOWDGRGRSHUtRGR6XDPHQVXUDomRVXEVHTXHQWHRFRUUHDFDGDGDWDGHEDODQoRGH
DFRPSDQKDGRVGR5HODWyULRGRV$XGLWRUHV,QGHSHQGHQWHV$SHVDUGDVGLILFXOGDGHVHQIUHQWDGDVQRDQRGHHVSHFLDOPHQWH DFRUGRFRPDVUHJUDVHVWDEHOHFLGDVSDUDFDGDWLSRGHFODVVLILFDomRGHDWLYRVHSDVVLYRVILQDQFHLURVHP L DWLYRVHSDVVLYRVILQDQFHLURVPHQVXUDGRV
HPIXQomRGDFUHVFHQWH³MXGLFLDOL]DomR´GR6HWRU(OpWULFRD&RPSDQKLDFRQVHJXLXFRQFOXLURVLQYHVWLPHQWRVQRPRQWDQWHGH5 DRYDORUMXVWRSRUPHLRGRUHVXOWDGR LL PDQWLGRVDWpRYHQFLPHQWR LLL HPSUpVWLPRVHUHFHEtYHLVH LY GLVSRQtYHLVSDUDYHQGD2VSULQFLSDLVDWLYRV
PLOK}HVDQWHFLSDQGRRLQtFLRGDVXDRSHUDomRFRPHUFLDORTXHDIH]REWHUXPDUHFHLWDOtTXLGDQRSHUtRGRQRPRQWDQWHGH ILQDQFHLURVUHFRQKHFLGRVSHOD&RPSDQKLDVmRFDL[DHHTXLYDOHQWHVGHFDL[DDSOLFDo}HVILQDQFHLUDVHFRQWDVDUHFHEHUGHFOLHQWHV2VSULQFLSDLV
5PLOK}HV5HFLIH±3($'LUHWRULD
SDVVLYRVILQDQFHLURVUHFRQKHFLGRVSHOD&RPSDQKLDVmRFRQWDVDSDJDUDIRUQHFHGRUHVHHPSUpVWLPRVHILQDQFLDPHQWRV&DL[DHHTXLYDOHQWHVGH
'HPRQVWUDo}HVGRVUHVXOWDGRVDEUDQJHQWHV
%DODQoRVSDWULPRQLDLVGHGH]HPEURGHH
FDL[D2VHTXLYDOHQWHVGHFDL[DVmRPDQWLGRVFRPDILQDOLGDGHGHDWHQGHUDFRPSURPLVVRVGHFDL[DGHFXUWRSUD]RHQmRSDUDLQYHVWLPHQWRRXRXWURV
3HUtRGRVILQGRVHPGHGH]HPEURGHH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
ILQV$&RPSDQKLDFRQVLGHUDHTXLYDOHQWHVGHFDL[DXPDDSOLFDomRILQDQFHLUDGHFRQYHUVLELOLGDGHLPHGLDWDFRPSUD]RGHYHQFLPHQWRLQIHULRUD
1RWDV
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
QRYHQWD GLDV HP XP PRQWDQWH FRQKHFLGR GH FDL[D H HVWDQGR VXMHLWD D XP LQVLJQLILFDQWH ULVFR GH PXGDQoD GH YDORU 3RU FRQVHJXLQWH XP
$WLYR
LQYHVWLPHQWRQRUPDOPHQWHVHTXDOLILFDFRPRHTXLYDOHQWHGHFDL[DTXDQGRWHPYHQFLPHQWRGHFXUWRSUD]RSRUH[HPSORWUrVPHVHVRXPHQRVD
/XFURGRSHUtRGR
&LUFXODQWH
FRQWDUGDGDWDGDFRQWUDWDomR,PRELOL]DGR6mRDSUHVHQWDGRVDRFXVWRGHDTXLVLomRRXFRQVWUXomRGHGX]LGRVGDGHSUHFLDomRDFXPXODGDHGH
2XWURVUHVXOWDGRVDEUDQJHQWHV
&DL[DHHTXLYDOHQWHVGHFDL[D
TXDLVTXHUSHUGDVDFXPXODGDVSRUUHGXomRDRYDORUUHFXSHUiYHOVHIRURFDVR2UHIHULGRFXVWRLQFOXLRFXVWRGHUHSRVLomRGHSDUWHGRLPRELOL]DGRHRV
5HVXOWDGRDEUDQJHQWHGRSHUtRGR
&RQWDVDUHFHEHU
FXVWRVGHHPSUpVWLPRGHSURMHWRVGHFRQVWUXomRGHORQJRSUD]RTXDQGRRVFULWpULRVGHUHFRQKHFLPHQWRIRUHPVDWLVIHLWRV7RGRVRVFXVWRVGHUHSDURVH
,PSRVWRVDUHFXSHUDU
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
PDQXWHQomRVmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGRTXDQGRLQFRUULGRV$GHSUHFLDomRGRVEHQVpFDOFXODGDSHORPpWRGROLQHDUjVWD[DV
2XWURVFUpGLWRV
GDVGHPRQVWUDo}HVFRQWiEHLV
PHQFLRQDGDVQD1RWDGHILQLGDVSRUPHLRGHUHJXODPHQWDomRGD$1((/DVTXDLVOHYDPHPFRQVLGHUDomRRWHPSRGHYLGD~WLOHVWLPDGRGRVEHQV
7RWDOGRDWLYRFLUFXODQWH
'HPRQVWUDo}HVGRVIOX[RVGHFDL[D
&XVWRV GH HPSUpVWLPRV &XVWRV GH HPSUpVWLPRV GLUHWDPHQWH UHODFLRQDGRV FRP D DTXLVLomR FRQVWUXomR RX SURGXomR GH XP DWLYR TXH
3HUtRGRVILQGRVHPGHGH]HPEURGHH
QHFHVVDULDPHQWHUHTXHUXPWHPSRVLJQLILFDWLYRSDUDVHUFRQFOXtGRSDUDILQVGHXVRRXYHQGDTXDQGRDSOLFiYHOVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWR
1mRFLUFXODQWH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
GRFRUUHVSRQGHQWHDWLYR7RGRVRVGHPDLVFXVWRVGHHPSUpVWLPRVVmRUHJLVWUDGRVFRPRGHVSHVDQRSHUtRGRHPTXHVmRLQFRUULGRV&XVWRVGH
5HDOL]iYHODORQJRSUD]R
HPSUpVWLPRFRPSUHHQGHPMXURVHRXWURVHQFDUJRVILQDQFHLURVLQFRUULGRVUHODWLYRVDRHPSUpVWLPR3HUGDSRUUHGXomRDRYDORUUHFXSHUiYHOGH
$SOLFDo}HVILQDQFHLUDV
DWLYRVQmRILQDQFHLURV$$GPLQLVWUDomRUHYLVDDQXDOPHQWHRYDORUFRQWiELOOtTXLGRGRVDWLYRVFRPRREMHWLYRGHDYDOLDUHYHQWRVRXPXGDQoDVQDV
,PSRVWRVDUHFXSHUDU
)OX[RGHFDL[DGDVDWLYLGDGHVRSHUDFLRQDLV
FLUFXQVWkQFLDVHFRQ{PLFDVRSHUDFLRQDLVRXWHFQROyJLFDVTXHSRVVDPLQGLFDUSHUGDGHVHXYDORUUHFXSHUiYHO6HQGRWDLVHYLGrQFLDVLGHQWLILFDGDVHR
,PRELOL]DGR
3UHMXt]RGRSHUtRGR
YDORUFRQWiELOOtTXLGRH[FHGHURYDORUUHFXSHUiYHOpUHFRQKHFLGDXPDSHUGDHVWLPDGDSHODGHVYDORUL]DomRGRDWLYRDMXVWDQGRRYDORUFRQWiELOOtTXLGRDR
7RWDOGRDWLYRQmRFLUFXODQWH
$MXVWHVSDUDFRQFLOLDURSUHMXt]RGRSHUtRGRDR
YDORUUHFXSHUiYHO3URYLV}HV3URYLV}HVVmRUHFRQKHFLGDVTXDQGR L D&RPSDQKLDWHPXPDREULJDomRSUHVHQWH OHJDORXQmRIRUPDOL]DGD HP
FDL[DDSOLFDGRQDVDWLYLGDGHVRSHUDFLRQDLV
7RWDOGRDWLYR
FRQVHTXrQFLDGHXPHYHQWRSDVVDGR LL pSURYiYHOTXHEHQHItFLRVHFRQ{PLFRVVHMDPUHTXHULGRVSDUDOLTXLGDUDREULJDomRH LLL XPDHVWLPDWLYD
FRQILiYHOGRYDORUGDREULJDomRSRVVDVHUIHLWD$GHVSHVDUHODWLYDDRUHFRQKHFLPHQWRGHTXDOTXHUSURYLVmRpDSUHVHQWDGDQDGHPRQVWUDomRGR
-XURVVREUHHPSUpVWLPRVHILQDQFLDPHQWRV
3DVVLYR
UHVXOWDGRGRSHUtRGR3URYLV}HVSDUDULVFRVWULEXWiULRVFtYHLVHWUDEDOKLVWDV$&RPSDQKLDQmRSRVVXLFRQWLQJrQFLDVFXMDDYDOLDomRGDVH[SHFWDWLYDVGH
$WXDOL]DomRPRQHWiULD
&LUFXODQWH
SHUGDV GH VHXV DVVHVVRUHV MXUtGLFRV VHMD ³SURYiYHO´ $VVLP QHQKXPD SURYLVmR SDUD SHUGDV IRL FRQVWLWXtGD HP H 3URYLVmR SDUD
$MXVWHDYDORUSUHVHQWHSURYLVmRSDUD
)RUQHFHGRUHV
GHVPRELOL]DomRGHDWLYRVLPRELOL]DGRV$SURYLVmRSDUDGHVPRELOL]DomRGHDWLYRVLPRELOL]DGRVpFRQWDELOL]DGDGHDFRUGRFRPD1%&7* ±
GHVPRELOL]DomR
(PSUpVWLPRVHILQDQFLDPHQWRV
3URYLV}HV3DVVLYRV&RQWLQJHQWHVH$WLYRV&RQWLQJHQWHVHD,7*±0XGDQoDVHP3DVVLYRVSRU'HVDWLYDomR5HVWDXUDomRH2XWURV3DVVLYRV
'HSUHFLDomRHDPRUWL]DomR
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
6LPLODUHVHGLWDGDVSHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGH&)&$VSURYLV}HVGD&RPSDQKLDUHIHUHPVHjREULJDomROHJDOHIRUDPGHWHUPLQDGDV
5HQGLPHQWRVVREUHDSOLFDo}HVILQDQFHLUDV
2XWUDVFRQWDVDSDJDU
FRP EDVH QRV FXVWRV HVWLPDGRV D LQFRUUHU QD GHVPRQWDJHP H UHPRomR GRV DHURJHUDGRUHV H REUDV FLYLV TXDQGR GR WpUPLQR GR FRQWUDWR GH
7RWDOGRSDVVLYRFLUFXODQWH
DUUHQGDPHQWRGDVWHUUDVUXUDLV-XOJDPHQWRVHVWLPDWLYDVHSUHPLVVDVFRQWiEHLVVLJQLILFDWLYRV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPHODERUDGDV
FRP EDVH HP GLYHUVDV EDVHV GH DYDOLDomR XWLOL]DGDV QDV HVWLPDWLYDV FRQWiEHLV $V HVWLPDWLYDV FRQWiEHLV HQYROYLGDV QD SUHSDUDomR GDV
1mRFLUFXODQWH
$FUpVFLPR GHFUpVFLPRGHDWLYRV
GHPRQVWUDo}HVFRQWiEHLVIRUDPEDVHDGDVHPIDWRUHVREMHWLYRVHVXEMHWLYRVFRPEDVHQRMXOJDPHQWRGD$GPLQLVWUDomRSDUDGHWHUPLQDomRGRYDORU
,PSRVWRVDUHFXSHUDU
)RUQHFHGRUHV
DGHTXDGRDVHUUHJLVWUDGRQDVGHPRQVWUDo}HVFRQWiEHLV,WHQVVLJQLILFDWLYRVVXMHLWRVDHVVDVHVWLPDWLYDVHSUHPLVVDVLQFOXHPDVHOHomRGHYLGDV~WHLV
&RQWDVDUHFHEHU
(PSUpVWLPRVHILQDQFLDPHQWRV
GRDWLYRLPRELOL]DGRHGHVXDUHFXSHUDELOLGDGHQDVRSHUDo}HVDYDOLDomRGRVDWLYRVILQDQFHLURVSHORYDORUMXVWRDQiOLVHGRVGHPDLVULVFRVSDUD
'HVSHVDVDQWHFLSDGDV
3URYLVmRSDUDGHVPRELOL]DomR
GHWHUPLQDomRGHRXWUDVSURYLV}HVLQFOXVLYHSDUDFRQWLQJrQFLDV$OLTXLGDomRGDVWUDQVDo}HVHQYROYHQGRHVVDVHVWLPDWLYDVSRGHUiUHVXOWDUHPYDORUHV
3DUWH5HODFLRQDGD
2XWUDVFRQWDVDSDJDU
VLJQLILFDWLYDPHQWHGLYHUJHQWHVGRVUHJLVWUDGRVQDVGHPRQVWUDo}HVFRQWiEHLVGHYLGRDRWUDWDPHQWRSUREDELOtVWLFRLQHUHQWHDRSURFHVVRGHHVWLPDWLYD$
2XWUDVFRQWDVDUHFHEHU
7RWDOGRSDVVLYRQmRFLUFXODQWH
&RPSDQKLDUHYLVDVXDVHVWLPDWLYDVHSUHPLVVDVSHORPHQRVDQXDOPHQWH
&DL[DHHTXLYDOHQWHGHFDL[D
3DWULP{QLROtTXLGR
$FUpVFLPR GHFUpVFLPR GHSDVVLYRV
)RUQHFHGRUHV
&DSLWDOVRFLDO
$V DSOLFDo}HV ILQDQFHLUDV UHIHUHPVH VXEVWDQFLDOPHQWH DV RSHUDo}HV
&DL[D
3UHMXt]RVDFXPXODGRV
FRPSURPLVVDGDV FRP UHPXQHUDo}HV TXH YDULDP HQWUH D GD WD[D GH
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
&RQWDVFRUUHQWHVEDQFiULDV
7RWDOGRSDWULP{QLROtTXLGR
&HUWLILFDGRGH'HSyVLWR,QWHUEDQFiULR &', (VVDVRSHUDo}HVSRVVXHPOLTXLGH]FRP
2XWUDVFRQWDVDSDJDU
$SOLFDo}HVILQDQFHLUDV
SUD]RLQIHULRUDGLDV
7RWDOGRSDVVLYRHGRSDWULP{QLR
&DL[DOtTXLGRJHUDGRSHODV DSOLFDGRQDV
$SOLFDo}HV
ILQDQFHLUDV $V DSOLFDo}HV ILQDQFHLUDV QR YDORU GH 5 HP GH GH]HPEUR GH HVWmR UHSUHVHQWDGDV SRU IXQGRV GH
OtTXLGR
DWLYLGDGHVRSHUDFLRQDLV
LQYHVWLPHQWRVUHPXQHUDGRVFRPEDVHHPSHUFHQWXDLVSUy[LPRVDR&HUWLILFDGRGH'HSyVLWR,QWHUEDQFiULR &', HQmRSRVVXHPSUD]RGHOLTXLGDomR$V
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
DSOLFDo}HVILQDQFHLUDVFODVVLILFDGDVQRDWLYRQmRFLUFXODQWHIRUDPFHGLGDVHPJDUDQWLDGHHPSUpVWLPRVFRPR%1'(6FRQIRUPHGHPRQVWUDGRQD1RWD
GDVGHPRQVWUDo}HVFRQWiEHLV
)OX[RGHFDL[DGDVDWLYLGDGHVGHLQYHVWLPHQWR
&RQWDVDUHFHEHU
'HPRQVWUDo}HVGRVUHVXOWDGRV
$SOLFDo}HVILQDQFHLUDV
5HIHUHPVHDFRQWDVDUHFHEHUGHFOLHQWHVGHFRUUHQWHVGDYHQGDGHHQHUJLD(PGH
3HUtRGRVILQGRVHPGHGH]HPEURGHH
$SOLFDomRGHUHFXUVRVQRLPRELOL]DGR
GH]HPEURGHD$GPLQLVWUDomRGD&RPSDQKLDFRQFOXLXQmRKDYHUQHFHVVLGDGH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
&DL[DOtTXLGRDSOLFDGRQDVDWLYLGDGHVGH
&RQWDVDUHFHEHUGHFOLHQWHV
GHUHFRQKHFHUSHUGDVHVWLPDGDVFRPFUpGLWRVGHOLTXLGDomRGXYLGRVD
H[FHWRRSUHMXt]RSRUDomR
LQYHVWLPHQWR
1RWDV
,PRELOL]DGR
5HFHLWDRSHUDFLRQDOOtTXLGD
)OX[RGHFDL[DGDVDWLYLGDGHVGHILQDQFLDPHQWR
&RPSRVLomRHPRYLPHQWDomRGRVDOGR
&XVWRFRPDYHQGDGH
,QJUHVVRGHHPSUpVWLPRVHILQDQFLDPHQWRV
HQHUJLD
6DOGRHP
7D[DDQXDOPpGLD 6DOGRHP
3DJDPHQWRGRVHPSUpVWLPRVHILQDQFLDPHQWRV
/XFUREUXWR
7UDQVIHUrQFLDV
%DL[D
'HVFULomR
GHGHSUHFLDomR
$GLo}HV
3DJDPHQWRVGHMXURVGRVHPSUpVWLPRVH
'HVSHVDVRSHUDFLRQDLV
ILQDQFLDPHQWRV
*HUDLVHDGPLQLVWUDWLYDV
&XVWRFRQWiELO
,QWHJUDOL]DomRGHFDSLWDOVRFLDO
/XFUR SUHMXt]R DQWHVGDV
0iTXLQDVHHTXLSDPHQWRV
&DL[DOtTXLGRJHUDGRSHODVDWLYLGDGHVGH
GHVSHVDVILQDQFHLUDV
)HUUDPHQWDV
ILQDQFLDPHQWR
5HFHLWDVILQDQFHLUDV
(GLILFDo}HVREUDVFLYLVHEHQIHLWRULDV
'HVSHVDVILQDQFHLUDV
%HQVHPFRQVWUXomR
$FUpVFLPRQRFDL[DHHTXLYDOHQWHVGHFDL[D
$GLDQWDPHQWRVDIRUQHFHGRUHV
3UHMXt]RDQWHVGRLPSRVWRGH
7RWDOGRFXVWR
UHQGDHFRQWULEXLomRVRFLDO
'HPRQVWUDomRGRDFUpVFLPRQRFDL[DH
7RWDOGHGHSUHFLDomRDFXPXODGD
HTXLYDOHQWHVGHFDL[D
,PSRVWRGHUHQGDH
7RWDOGRLPRELOL]DGR
FRQWULEXLomRVRFLDO
1RILQDOGRSHUtRGR
'XUDQWHRSHUtRGRILQGRHPGHGH]HPEURGHD&RPSDQKLDDSURSULRXDRLPRELOL]DGRRPRQWDQWHGH5
5HPGHGH]HPEURGH
3UHMXt]RGRSHUtRGR
1RLQtFLRGRSHUtRGR
UHIHUHQWHVDMXURVVREUHHPSUpVWLPRVFDUDFWHUL]DGRVFRPRFDSLWDOL]iYHLVFRQIRUPH1%&7*&XVWRVGH(PSUpVWLPRV3RUQmRPRYLPHQWDU
4XDQWLGDGHGHDo}HV
$FUpVFLPRQRFDL[DHHTXLYDOHQWHVGHFDL[D
FDL[DHVWHPRQWDQWHQmRHVWiLQFOXtGRQDVDWLYLGDGHVGHLQYHVWLPHQWRQDGHPRQVWUDomRGRVIOX[RVGHFDL[D
3UHMXt]RSRUDomRHP5HDLV
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
)RUQHFHGRUHV
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWH
GDVGHPRQVWUDo}HVFRQWiEHLV
GDVGHPRQVWUDo}HVFRQWiEHLV
2 VDOGR GH IRUQHFHGRUHV UHIHUHVH EDVLFDPHQWH D FRPSUDV GH PDWHULDLV H D
)RUQHFHGRUHV
'HPRQVWUDo}HVGDVPXWDo}HVGRSDWULP{QLROtTXLGR3HUtRGRVILQGRVHPGHGH]HPEURGHH
FRQWUDWDomRGHVHUYLoRVSDUDFRQVWUXomRHRSHUDomRGRSDUTXHHyOLFR
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
&LUFXODQWH
&DSLWDOVRFLDO
3UHMXt]RVDFXPXODGRV
7RWDO
1mRFLUFXODQWH
6DOGRVHPGHGH]HPEURGH
(PSUpVWLPRVHILQDQFLDPHQWRV
3UHMXt]RGRSHUtRGR
6DOGRHP
-XURVH
6DOGRHP
6DOGRVHPGHGH]HPEURGH
$PRUWL]Do}HV
HQFDUJRV
'HVFULomR
(QFDUJRVLQFLGHQWHV
&DSWDo}HV
$XPHQWRGHFDSLWDOVRFLDO 1RWD
0RHGDQDFLRQDO
3UHMXt]RGRSHUtRGR
&',DDRDQR
6DOGRVHPGHGH]HPEURGH
(PSUpVWLPR+6%&
&',DRDQR
$VQRWDVH[SOLFDWLYDVVmRSDUWHLQWHJUDQWHGDVGHPRQVWUDo}HVFRQWiEHLV
(PSUpVWLPR$OID
7-/3DRDQR
1RWDVH[SOLFDWLYDVjVGHPRQVWUDo}HVFRQWiEHLVGHGH]HPEURGHH 9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV %1'(6
,QIRUPDo}HVVREUHD&RPSDQKLDD 2EMHWRVRFLDO$%DUD~QDV,,(QHUJpWLFD6$ ³&RPSDQKLD´ pXPDVRFLHGDGHSRUDo}HVGH
FDSLWDOIHFKDGRFRPVHGHQDFLGDGHGR5HFLIH3(FRQVWLWXtGDHPGHPDUoRGHTXHWHPFRPRREMHWRVRFLDODJHUDomRHD
FRPHUFLDOL]DomRGHHQHUJLDHyOLFDFRPDSURYHLWDPHQWRGHUHFXUVRVHyOLFRVSURYHQLHQWHVGR3DUTXH(yOLFRGHQRPLQDGR³(2/ 2ILQDQFLDPHQWRFRPR%1'(6WHPSUD]RGHDPRUWL]DomRHP FHQWRHQRYHQWDHGXDV SDUFHODVPHQVDLVLQLFLDGDVQRDQRGHHSUHYLVmRGH
%DUD~QDV,,´(PGHGH]HPEURGHD&RPSDQKLDREWHYHSRUPHLRGHSDUWLFLSDomRQR/HLOmRQUHDOL]DGRSHOD WpUPLQRHPHHVWiJDUDQWLGRSRUFRQWUDWRGHFHVVmRILGXFLiULDGHGLUHLWRVDGPLQLVWUDomRGHFRQWDVHRXWUDVDYHQoDV2VMXURVSDJRVVREUH
$JrQFLD1DFLRQDOGH(QHUJLD(OpWULFD$1((/RGLUHLWRGHFRPHUFLDOL]DUDHQHUJLDSURYHQLHQWHGRHPSUHHQGLPHQWRGHQRPLQDGR HPSUpVWLPRVHILQDQFLDPHQWRVIRUDPFODVVLILFDGRVFRPRDWLYLGDGHGHILQDQFLDPHQWRQDGHPRQVWUDomRGRVIOX[RVGHFDL[D
(2/%DUD~QDV,,QR$PELHQWHGH&RQWUDWDomR5HJXODGD$&5FRPLQtFLRGHVXSULPHQWRGHHQHUJLDHOpWULFDDSDUWLUGHGHMDQHLUR
$V SDUFHODV YLQFHQGDV D ORQJR SUD]R DSUHVHQWDP R VHJXLQWH FURQRJUDPD GH $QR
GH&RQWXGRD&RPSDQKLDLQLFLRXDRSHUDomRFRPHUFLDODQWHVGRSUD]RDFRUGDGRHPGHPDUoRGHE &DSDFLGDGHGH
YHQFLPHQWR
SURGXomRHFRPHUFLDOL]DomRGHHQHUJLDHOpWULFD$3RUWDULD$XWRUL]DWLYDQHPLWLGDSHOR0LQLVWpULRGH0LQDVH(QHUJLD±00(
3URYLVmRSDUDGHVPRELOL]DomR$&RPSDQKLDSRVVXLREULJDomRGHUHWLUDGDGH
HPDXWRUL]RXD&RPSDQKLDHVWDEHOHFHUVHFRPR³3URGXWRU,QGHSHQGHQWHGH(QHUJLD(OpWULFD´PHGLDQWHDLPSODQWDomR
DWLYRVGHFRUUHQWHVGHH[LJrQFLDVFRQWUDWXDLVHOHJDLV $SURYLVmRIRLLQLFLDOPHQWH
HH[SORUDomRGD&HQWUDO*HUDGRUD(yOLFDGHQRPLQDGD³(2/%DUD~QDV,,´LQVWDODGDQRPXQLFtSLRGH6HQWR6pHVWDGRGD%DKLDFRP
PHQVXUDGDDRMXVWRYDORUHSRVWHULRUPHQWHpDMXVWDGDDYDORUSUHVHQWHHPXGDQoDV
SRWrQFLD GH 0: GH FDSDFLGDGH LQVWDODGD H 0: PpGLRV GH JDUDQWLD ItVLFD GH HQHUJLD FRQVWLWXtGD GH RLWR XQLGDGHV
QR YDORU RX QD WHPSHVWLYLGDGH GRV IOX[RV GH FDL[D HVWLPDGRV 2V FXVWRV GH $SyV
JHUDGRUDV GH 0:$$1((/ DSURYRX R DXPHQWR QD SRWrQFLD LQVWDODGD GD ³(2/ %DUD~QDV ,,´ SDUD 0: FRP RQ]H
GHVPRELOL]DomRGRDWLYRIRUDPFDSLWDOL]DGRVFRPRSDUWHGRYDORUFRQWiELOGRDWLYR
DHURJHUDGRUHVGH0:(PGHPDUoRGHIRLSXEOLFDGRD3RUWDULD00(QTXHDOWHURXDJDUDQWLDItVLFDGD(2/
IRUDPFDSLWDOL]DGRVFRPRSDUWHGRYDORUFRQWiELOGRDWLYRUHODFLRQDGRHHVWmRVHQGRDPRUWL]DGRVDRORQJRGDYLGD~WLOUHPDQHVFHQWHGRDWLYR3DUD
%DUD~QDV,,SDUD0:PpGLRV$DXWRUL]DomRFRQFHGLGDWHPYLJrQFLDSRUXPSHUtRGRGHDQRV$SUHVHQWDomRGDV
GHWHUPLQDomRGRDMXVWHDYDORUSUHVHQWHGDSURYLVmRSDUDGHVPRELOL]DomRIRLXWLOL]DGDDWD[DGHGHVFRQWRGHDD3DWULP{QLROtTXLGRD
GHPRQVWUDo}HVFRQWiEHLVHVXPiULRVGDVSUiWLFDVFRQWiEHLV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPSUHSDUDGDVHHVWmRVHQGR
&DSLWDOVRFLDO2FDSLWDOVRFLDOVXEVFULWRHWRWDOPHQWHLQWHJUDOL]DGRHPGHGH]HPEURGHpUHSUHVHQWDGRSRUDo}HVRUGLQiULDV
DSUHVHQWDGDVGHDFRUGRFRPDVSROtWLFDVFRQWiEHLVDGRWDGDVQR%UDVLOTXHFRPSUHHQGHPRVGRFXPHQWRVHPLWLGRVSHOR&RPLWrGH
Do}HV QRPLQDWLYDVHVHPYDORUQRPLQDO2VDOGRHPGHGH]HPEURGHpGH5 5 GLVWULEXtGRGDVHJXLQWHIRUPD
3URQXQFLDPHQWRV &RQWiEHLV &3& DSURYDGRV SHOR &RQVHOKR )HGHUDO GH &RQWDELOLGDGH &)& FRPR 1RUPDV %UDVLOHLUDV GH
$o}HV
$FLRQLVWDV
&DGD DomR RUGLQiULD Gi GLUHLWR D XP YRWR QDV$VVHPEOHLDV
&RQWDELOLGDGH 1%& $V GHPRQVWUDo}HV FRQWiEHLV GD &RPSDQKLD SDUD R SHUtRGR ILQGR HP GH GH]HPEUR GH IRUDP
*HUDLV(PGHIHYHUHLURGHIRLDSURYDGRSRUPHLRGH
DXWRUL]DGDVSDUDHPLVVmRHPUHXQLmRGDGLUHWRULDUHDOL]DGDHPGHIHYHUHLURGH5HFRQKHFLPHQWRGHUHFHLWD5HFHLWD
5HXQLmRGR&RQVHOKRGH$GPLQLVWUDomR 5&$ RDXPHQWRGR
GDVRSHUDo}HV$UHFHLWDGHYHQGDGHHQHUJLDpUHFRQKHFLGDQRUHVXOWDGRTXDQGR L VHXYDORUSRGHVHUPHQVXUDGRGHIRUPD %UHQQDQG(QHUJLD6$
FDSLWDOVRFLDOGD&RPSDQKLDQRYDORUGH5VHPD
FRQILiYHO LL WRGRVRVULVFRVHEHQHItFLRVLQHUHQWHVjYHQGDGHHQHUJLDVmRWUDQVIHULGRVSDUDRFOLHQWHH LLL pSURYiYHOTXHRV &RPSDQKLD+LGUR(OpWULFDGR6mR)UDQFLVFR±&+(6)
%UHQQDQG(QHUJLD(yOLFD6$
HPLVVmRGHQRYDVDo}HV(PGHIHYHUHLURGHSRUPHLR
EHQHItFLRVHFRQ{PLFRVVHUmRJHUDGRVDIDYRUGD&RPSDQKLD8PDUHFHLWDQmRpUHFRQKHFLGDVHKiXPDLQFHUWH]DVLJQLILFDWLYD
GH5HXQLmRGR&RQVHOKRGH$GPLQLVWUDomRUHVWRX
TXDQWR D VXD UHDOL]DomR 5HFHLWD GH MXURV 3DUD WRGRV RV LQVWUXPHQWRV ILQDQFHLURV DYDOLDGRV DR FXVWR DPRUWL]DGR H DWLYRV
ILQDQFHLURVTXHUHQGHPMXURVFODVVLILFDGRVFRPRGLVSRQtYHLVSDUDYHQGDDUHFHLWDRXGHVSHVDILQDQFHLUDpUHFRQKHFLGDXWLOL]DQGR KRPRORJDGRRDXPHQWRGHFDSLWDOGD&RPSDQKLDUHDOL]DGRQDUHXQLmRGRGLDGHIHYHUHLURQDRUGHPGH5FRPDHPLVVmRGHQRYDV
VHDWD[DGHMXURVHIHWLYD$UHFHLWDGHMXURVpDSUHVHQWDGDFRPRUHFHLWDILQDQFHLUDQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR Do}HVWHQGRVLGRLQWHJUDOL]DGRHPPRHGDFRUUHQWHGRSDtVRPRQWDQWHGH5(PGHDEULOGHSRUPHLRGH5HXQLmRGR&RQVHOKRGH
7ULEXWDomR,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO$WULEXWDomRVREUHROXFURFRPSUHHQGHRLPSRVWRGHUHQGDHDFRQWULEXLomR $GPLQLVWUDomRWHQGR HPYLVWD RQmRSHUtRGRSHOD$FLRQLVWD&RPSDQKLD+LGUR(OpWULFDGR6mR)UDQFLVFR±&+(6)GRVHXGLUHLWRGHSUHIHUrQFLDj
VRFLDORVTXDLVVmRUHJLVWUDGRVFRPEDVHQRSULQFtSLRGDFRPSHWrQFLDHFDOFXODGRVFRQIRUPHOHJLVODomRILVFDOHPYLJRUWHQGRSRU VXEVFULomRGDVDo}HVGHFRUUHQWHVGRDXPHQWRGHFDSLWDOGD&RPSDQKLDDVVLPFRPRDPDQLIHVWDomRGHLQWHUHVVHGD$FLRQLVWD%UHQQDQG(QHUJLD6$QD
EDVHR³/XFUR3UHVXPLGR´,PSRVWRVREUHYHQGDV5HFHLWDVGHVSHVDVHDWLYRVVmRUHFRQKHFLGRVOtTXLGRVGRVLPSRVWRVVREUH VXEVFULomR GDV VREUDV HP VXD WRWDOLGDGH UHVWRX KRPRORJDGD D DORFDomR GH WDLV VREUDV HP IDYRU GD$FLRQLVWD %UHQQDQG (QHUJLD 6$ D TXDO IRL
YHQGDVH[FHWR L TXDQGRRVLPSRVWRVVREUHYHQGDVLQFRUULGRVQDFRPSUDGHEHQVRXVHUYLoRVQmRIRUHPUHFXSHUiYHLVRLPSRVWR LQWHJUDOL]DGDQRPRQWDQWHGH5HPGHDEULOGHE &DSLWDODXWRUL]DGR$&RPSDQKLDSRGHUiPHGLDQWHGHOLEHUDomRGR&RQVHOKRGH
VREUHYHQGDVpUHFRQKHFLGRFRPRSDUWHGRFXVWRGHDTXLVLomRGRDWLYRRXGRLWHPGHGHVSHVDFRQIRUPHRFDVRH LL YDORUHVD $GPLQLVWUDomRDXPHQWDURFDSLWDOVRFLDOLQGHSHQGHQWHPHQWHGHUHIRUPDHVWDWXWiULDDWpROLPLWHGH5HPLWLQGRSURSRUFLRQDOPHQWHDVDo}HV
UHFHEHU H D SDJDU DSUHVHQWDGRV FRQMXQWDPHQWH FRP R YDORU GRV LPSRVWRV VREUH YHQGDV ,QVWUXPHQWRV ILQDQFHLURV 2V FRUUHVSRQGHQWHV DR FDSLWDO VRFLDO F 'LYLGHQGRV 'H DFRUGR FRP R (VWDWXWR GD &RPSDQKLD p DVVHJXUDGR DRV DFLRQLVWDV GLYLGHQGRV PtQLPRV
REULJDWyULRVGHVREUHROXFURGRSHUtRGRDMXVWDGRQDIRUPDGD/HL
LQVWUXPHQWRVILQDQFHLURVVRPHQWHVmRUHFRQKHFLGRVDSDUWLUGDGDWDHPTXHD&RPSDQKLDVHWRUQDSDUWHGDVGLVSRVLo}HV