DOEPE 28/03/2017 - Pág. 21 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 28 de março de 2017
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCIV • NÀ 58 - 21
'HPRQVWUDo}HVGDVPXWDo}HVGRSDWULP{QLROtTXLGR3HUtRGRVILQGRVHPGHGH]HPEURGHH
$/72-$858(1(5*e7,&$6$&13-1 ±5HODWyULRGD$GPLQLVWUDomR 'DQGRFXPSULPHQWRjV
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
GHWHUPLQDo}HVOHJDLVHHVWDWXWiULDVVXEPHWHPRVjDSUHFLDomRGRV6HQKRUHV$FLRQLVWDV&OLHQWHV)RUQHFHGRUHVHj6RFLHGDGH
5HVHUYDGHOXFURV
HPJHUDOHVWH5HODWyULRGD$GPLQLVWUDomRHDV'HPRQVWUDo}HV&RQWiEHLVUHIHUHQWHVDRH[HUFtFLRVRFLDOILQGRHP
5HVHUYD
'LYLGHQGRV
DFRPSDQKDGRVGR5HODWyULRGRV$XGLWRUHV,QGHSHQGHQWHV2VUHVXOWDGRVGHIRUDPERQVPDVDVGLILFXOGDGHVHRVULVFRV
GH
DGLFLRQDLV
5HVHUYD
/XFURV
&DSLWDO
DXPHQWDUDPPXLWRHVSHFLDOPHQWHHPIXQomRGDFUHVFHQWH³MXGLFLDOL]DomR´GR6HWRU(OpWULFRHGHVXDVFRQVHTXrQFLDV,QREVWDQWH
7RWDO
OHJDO
SURSRVWRV
OHJDO
DFXPXODGRV
VRFLDO
HVVDVGLILFXOGDGHVD&RPSDQKLDREWHYHHPXPDUHFHLWDOLTXLGDGH5PLOK}HVHXPOXFUROtTXLGRGH5
PLOK}HV5HFLIH±3($'LUHWRULD
6DOGRVHPGHGH]HPEURGH
%DODQoRVSDWULPRQLDLVGHGH]HPEURGHH 9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
'LVWULEXLomRGHGLYLGHQGRV 1RWD
1RWDV
1RWDV
/XFUROtTXLGRGRSHUtRGR
3DVVLYR
$WLYR
'HVWLQDomRGROXFUR
1RWDH
&LUFXODQWH
5HVHUYDOHJDO
)RUQHFHGRUHV
&LUFXODQWH
'LYLGHQGRVPtQLPRVREULJDWyULRV
&DL[DHHTXLYDOHQWHVGHFDL[D
6DOiULRVHREULJDo}HVVRFLDLV
'LYLGHQGRVDGLFLRQDLVGLVWULEXtGRVHSURSRVWRV
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
&RQWDVDUHFHEHUGHFOLHQWHV
6DOGRVHPGHGH]HPEURGH
'LYLGHQGRVDSDJDU
,PSRVWRVDUHFXSHUDU
'LVWULEXLomRGHGLYLGHQGRV 1RWD
2XWUDVFRQWDVDSDJDU
2XWURVFUpGLWRV
/XFUROtTXLGRGRSHUtRGR
7RWDOGRSDVVLYRFLUFXODQWH
7RWDOGRDWLYRFLUFXODQWH
'HVWLQDomRGROXFUR 1RWDVH
1mRFLUFXODQWH
'LYLGHQGRVPtQLPRVREULJDWyULRV
1mRFLUFXODQWH
3DUWHVUHODFLRQDGDV
'LYLGHQGRVDGLFLRQDLVGLVWULEXtGRVHSURSRVWRV
5HDOL]iYHODORQJRSUD]R
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
6DOGRVHPGHGH]HPEURGH
7RWDOGRSDVVLYRQmRFLUFXODQWH
'HSyVLWRVMXGLFLDLV
3DWULP{QLROtTXLGR
,PSRVWRVDUHFXSHUDU
MXUtGLFRVVHMD³SURYiYHO´$VVLPQHQKXPDSURYLVmRSDUDSHUGDVIRLFRQVWLWXtGDHPH -XOJDPHQWRHVWLPDWLYDVHSUHPLVVDVFRQWiEHLV
&DSLWDOVRFLDO
,PRELOL]DGR
VLJQLILFDWLYRV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPHODERUDGDVFRPEDVHHPGLYHUVDVEDVHVGHDYDOLDomRXWLOL]DGDVQDVHVWLPDWLYDVFRQWiEHLV$V
5HVHUYDVGHFDSLWDO
,QWDQJtYHO
HVWLPDWLYDVFRQWiEHLVHQYROYLGDVQDSUHSDUDomRGDVGHPRQVWUDo}HVFRQWiEHLVIRUDPEDVHDGDVHPIDWRUHVREMHWLYRVHVXEMHWLYRVFRPEDVHQR
5HVHUYDVGHOXFURV
7RWDOGRDWLYRQmRFLUFXODQWH
MXOJDPHQWRGD$GPLQLVWUDomRSDUDGHWHUPLQDomRGRYDORUDGHTXDGRDVHUUHJLVWUDGRQDVGHPRQVWUDo}HVFRQWiEHLV$OLTXLGDomRGDVWUDQVDo}HV
7RWDOGRSDWULP{QLROtTXLGR
HQYROYHQGRHVVDVHVWLPDWLYDVSRGHUiUHVXOWDUHPYDORUHVVLJQLILFDWLYDPHQWHGLYHUJHQWHVGRVUHJLVWUDGRVQDVGHPRQVWUDo}HVFRQWiEHLVGHYLGRDR
7RWDOGRSDVVLYRHSDWULP{QLROtTXLGR
7RWDOGRDWLYR
WUDWDPHQWRSUREDELOtVWLFRLQHUHQWHDRSURFHVVRGHHVWLPDWLYD$&RPSDQKLDUHYLVDVXDVHVWLPDWLYDVHSUHPLVVDVSHORPHQRVDQXDOPHQWH
'HPRQVWUDo}HVGRVUHVXOWDGRV
'HPRQVWUDo}HVGRVIOX[RVGHFDL[D
&RQWDV D UHFHEHU GH FOLHQWHV 5HIHUHPVH D FRQWDV D UHFHEHU GH FOLHQWHV
3HUtRGRVILQGRVHPGHGH]HPEURGHH
3HUtRGRVILQGRVHPGHGH]HPEURGHH
&DL[DHHTXLYDOHQWHGHFDL[D
9DORUHVH[SUHVVRVHPPLOKDUHVUHDLV
GHFRUUHQWHVGDYHQGDGHHQHUJLD(PGHGH]HPEURGHHVVDVFRQWDVDUHFHEHU
9DORUHVH[SUHVVRVHPPLOKDUHVUHDLV
)XQGRIL[RGHFDL[D
GH
FOLHQWHV QR PRQWDQWH GH 5 5 VmR FRPSRVWDV
H[FHWRROXFURSRUDomRHPUHDLV
VXEVWDQFLDOPHQWH SRU YDORUHV YLQFHQGRV QR SUD]R Pi[LPR GH GLDV (P GH
)OX[RGHFDL[DGDVDWLYLGDGHVRSHUDFLRQDLV
&RQWDVFRUUHQWHVEDQFiULDV
1RWDV
GH]HPEUR GH H D $GPLQLVWUDomR GD &RPSDQKLD FRQFOXLX QmR KDYHU
/XFUROtTXLGRGRSHUtRGR
5HFHLWDRSHUDFLRQDOOtTXLGD
$SOLFDo}HVILQDQFHLUDV
QHFHVVLGDGHGHUHFRQKHFHUSHUGDVHVWLPDGDVFRPFUpGLWRVGHOLTXLGDomRGXYLGRVD
$MXVWHVSDUDFRQFLOLDUROXFUROtTXLGRGRSHUtRGR
&XVWRGDYHQGDGHHQHUJLD
9DORUUHVLGXDOGHEDL[DGRLPRELOL]DGR
/XFUREUXWR
,PSRVWRVDUHFXSHUDU
'HSUHFLDomRHDPRUWL]DomR
'HVSHVDVRSHUDFLRQDLV
D &RUUHVSRQGHDFUpGLWRGHLPSRVWRGHUHQGDUHWLGRQDIRQWHRULXQGRGDVVHJXLQWHV
RSHUDo}HV L VREUH WUDQVDo}HV GH P~WXR UHDOL]DGDV FRP GLYHUVDV SDUWHV
,&06DUHFXSHUDU
*HUDLVHDGPLQLVWUDWLYDV
2XWUDVUHFHLWDV GHVSHVDV
UHODFLRQDGDVGR*UXSR%UHQQDQG(QHUJLDGRTXDOID]SDUWHD&RPSDQKLD LL VREUH
6DOGRQHJDWLYRGH,53$FUpVFLPR GHFUpVFLPRGHDWLYRV
UHQGLPHQWRVDXIHULGRVHPRSHUDo}HVILQDQFHLUDVDWXDOL]DGRVSHODWD[D6(/,&DWp
,53&RQWDVDUHFHEHUGHFOLHQWHV
RSHUDFLRQDLVOtTXLGDV
GH GH]HPEUR GH (VVHV FUpGLWRV ILVFDLV IRUDP XWLOL]DGRV SDUFLDOPHQWH SHOD
D
,55)
,PSRVWRVDUHFXSHUDU
/XFURDQWHVGDVUHFHLWDV
&RPSDQKLD SDUD FRPSHQVDU GpELWRV GH WULEXWRV IHGHUDLV FXMR SURFHVVR GH
2XWURV
3DUWHVUHODFLRQDGDV
KRPRORJDomRDLQGDHVWiHPWUDPLWDomRQD5HFHLWD)HGHUDOGR%UDVLO 5)% HQmR
2XWURVFUpGLWRV
GHVSHVDV ILQDQFHLUDV
&LUFXODQWH
H[LVWHSUD]RSUHVFULFLRQDO
5HFHLWDVILQDQFHLUDV
'HVSHVDVILQDQFHLUDV
1mRFLUFXODQWH
$FUpVFLPR GHFUpVFLPR GHSDVVLYRV
)RUQHFHGRUHV
3DUWHVUHODFLRQDGDV
/XFURDQWHVGRLPSRVWRGH
6DOiULRVHREULJDo}HVVRFLDLV
3DVVLYR
UHQGDHGDFRQWULEXLomR
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
&LUFXODQWH
$WLYR
VRFLDO
3DUWHVUHODFLRQDGDV
&LUFXODQWH
2XWUDVFRQWDVDSDJDU
,PSRVWRGHUHQGDH
2XWUDVFRQWDVDSDJDU
&RQWDVDUHFHEHUGHFOLHQWHV
D
%UHQQDQG(QHUJLD&RPHUFLDOL]DGRUD6$
FRQWULEXLomRVRFLDO
D
8QDt%DL[R(QHUJpWLFD6$
1mRFLUFXODQWH
/XFUROtTXLGRGRSHUtRGR
&DL[DJHUDGRSHODVDWLYLGDGHVRSHUDFLRQDLV
D
,QGLDYDt(QHUJpWLFD6$
4XDQWLGDGHGHDo}HV
E
'pELWRVFRPDFLRQLVWDVPLQRULWiULRV
)OX[RGHFDL[DGDVDWLYLGDGHVGHLQYHVWLPHQWR
%UHQQDQG(QHUJLD&RPHUFLDOL]DGRUD6$ D
/XFURSRUDomRHP5HDLV
2XWURVFUpGLWRV
$GLo}HVDRLPRELOL]DGR
5HVXOWDGR
'HPRQVWUDo}HVGRVUHVXOWDGRVDEUDQJHQWHV
%UHQQDQG(QHUJLD&RPHUFLDOL]DGRUD6$
&DL[DDSOLFDGRQDVDWLYLGDGHVGHLQYHVWLPHQWR
D
5HFHLWDFRPYHQGDGHHQHUJLD
3HUtRGRVILQGRVHPGHGH]HPEURGHH
)OX[RGHFDL[DGDVDWLYLGDGHVGHILQDQFLDPHQWR
D
&XVWRGHFRPSUDGHHQHUJLDSDUDUHYHQGD
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
3DJDPHQWRVGHGLYLGHQGRV
&DL[DOtTXLGRDSOLFDGRQDVDWLYLGDGHVGH
D $VFRQWDVDUHFHEHUGHSDUWHVUHODFLRQDGDV FODVVLILFDGDVFRPRFRQWDVDUHFHEHUGHFOLHQWHVHRXWURVFUpGLWRV HDVFRQWDVDSDJDUGHSDUWHV
/XFUROtTXLGRGRSHUtRGR
ILQDQFLDPHQWR
2XWURVUHVXOWDGRVDEUDQJHQWHV
UHODFLRQDGDV FODVVLILFDGDVFRPRIRUQHFHGRUHVHRXWUDVFRQWDVDSDJDU GHFRUUHPGHRSHUDo}HVGHFRPSUDHYHQGDGHHQHUJLDUHDOL]DGDVHQWUHDV
$FUpVFLPRGRFDL[DHHTXLYDOHQWHVGHFDL[D
5HVXOWDGRDEUDQJHQWHWRWDO
HPSUHVDVGR*UXSR%UHQQDQG(QHUJLDGRTXDOID]SDUWHD&RPSDQKLD E (VVHVYDORUHVDSDJDUDSDUWHVUHODFLRQDGDVUHIHUHPVHDRSHUDomRGHUHVJDWH
GDVDo}HVSUHIHUHQFLDLVWLSR³$´GHHPLVVmRGD&RPSDQKLD
'HPRQVWUDomRGRDFUpVFLPRQRFDL[DH
1RWDV H[SOLFDWLYDV jV GHPRQVWUDo}HV FRQWiEHLV GH
HTXLYDOHQWHVGHFDL[D
,PRELOL]DGR
GH]HPEURGHH
9DORUHVH[SUHVVRVHPPLOKDUHVGH
1RILQDOGRSHUtRGR
6DOGRHP
7D[DPpGLDDQXDO
6DOGRHP
UHDLV
,QIRUPDo}HVVREUHD&RPSDQKLDD
2EMHWRVRFLDO
1RLQtFLRGRSHUtRGR
%DL[DV
$GLo}HV
'HVFULomR
GHSUHFLDomR
$$OWR-DXUX(QHUJpWLFD6$ &RPSDQKLD pXPDVRFLHGDGHSRU
$FUpVFLPRQRFDL[DHHTXLYDOHQWHVGHFDL[D
Do}HVGHFDSLWDOIHFKDGRFRPVHGHQDFLGDGHGR5HFLIH3(
&XVWRFRQWiELO
$&RPSDQKLDWHPSRUSULQFLSDODWLYLGDGHHFRQ{PLFDDJHUDomRHDFRPHUFLDOL]DomRGHHQHUJLDHOpWULFDFRPDSURYHLWDPHQWRGH
7HUUHQRV
UHFXUVRVKtGULFRVQDWXUDLVPHGLDQWHDXWRUL]DomRGR3RGHU3~EOLFRFRPSHWHQWHE $XWRUL]DomRSDUD3URGXomRGH(QHUJLD(OpWULFD
(GLILFDo}HVREUDVFLYLVHEHQIHLWRULDV
D
(P D &RPSDQKLD REWHYH DXWRUL]DomR QD FRQGLomR GH SURGXWRU LQGHSHQGHQWH GH HQHUJLD HOpWULFD SDUD H[SORUDU R
0yYHLVHXWHQVtOLRV
D
SRWHQFLDOKLGUiXOLFRGR5LR-DXUXQR0XQLFtSLRGH$UDSXWDQJD07SRUPHLRGHXPD3HTXHQD&HQWUDO+LGUHOpWULFD 3&+ FRP
&RPSXWDGRUHVHSHULIpULFRV
0:GHSRWrQFLDLQVWDODGDSRUXPSHUtRGRGHYLQWHHVHWHDQRVHVHLVPHVHVF &RPHUFLDOL]DomRGH(QHUJLD(OpWULFD$&RPSDQKLD 0iTXLQDVHHTXLSDPHQWRV
D
FRPHUFLDOL]DHQHUJLDQRVPHUFDGRVOLYUHHUHJXODGR$SUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVHVXPiULRGDVSUiWLFDV )HUUDPHQWDV
FRQWiEHLV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPSUHSDUDGDVHHVWmRVHQGRDSUHVHQWDGDVGHDFRUGRFRPDVSROtWLFDVFRQWiEHLV 6RIWZDUH
DGRWDGDVQR%UDVLOTXHFRPSUHHQGHPRVGRFXPHQWRVHPLWLGRVSHOR&RPLWrGH3URQXQFLDPHQWRV&RQWiEHLV &3& DSURYDGRV 9HtFXORV
SHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGH &)& FRPR1RUPDV%UDVLOHLUDVGH&RQWDELOLGDGH 1%& $VGHPRQVWUDo}HVFRQWiEHLVGD /LQKDGHWUDQVPLVVmR
&RPSDQKLDSDUDRSHUtRGRILQGRHPGHGH]HPEURGHIRUDPDXWRUL]DGDVSDUDHPLVVmRGHDFRUGRFRPDUHVROXomRGD 7RWDOGRFXVWR
$GPLQLVWUDomRHPGHPDUoRGH5HFRQKHFLPHQWRGHUHFHLWD5HFHLWDGDVRSHUDo}HV$UHFHLWDGHYHQGDGHHQHUJLDp 7RWDOGDGHSUHFLDomRDFXPXODGD
UHFRQKHFLGDQRUHVXOWDGRTXDQGR L VHXYDORUSRGHVHUPHQVXUDGRGHIRUPDFRQILiYHO LL WRGRVRVULVFRVHEHQHItFLRVLQHUHQWHVj 7RWDOOtTXLGR
YHQGDGHHQHUJLDVmRWUDQVIHULGRVSDUDRFOLHQWH LLL D&RPSDQKLDQmRGHWpPPDLVRFRQWUROHRXDUHVSRQVDELOLGDGHVREUHDYHQGD
3URYLVmRSDUDFRQWLQJrQFLDV$&RPSDQKLDQmRSRVVXLFRQWLQJrQFLDVFXMDSUREDELOLGDGH
GHHQHUJLD H LY pSURYiYHOTXHRVEHQHItFLRVHFRQ{PLFRVVHUmRJHUDGRVDIDYRUGD&RPSDQKLD8PDUHFHLWDQmRpUHFRQKHFLGDVH ,QWDQJtYHO
GHSHUGDVHMDSURYiYHOGHVWDIRUPDQmRKiSURYLV}HVFRQWDELOL]DGDV&RQWXGRD&RPSDQKLD
KiXPDLQFHUWH]DVLJQLILFDWLYDTXDQWRDVXDUHDOL]DomR5HFHLWDGHMXURV3DUDWRGRVRVLQVWUXPHQWRVILQDQFHLURVDYDOLDGRVDRFXVWR
'LUHLWRVGHFRQFHVVmR
SRVVXLXPWRWDOHVWLPDGRGH5 5 HPSURFHVVRVFRPH[SHFWDWLYDGHSHUGD
DPRUWL]DGRHDWLYRVILQDQFHLURVTXHUHQGHPMXURVFODVVLILFDGRVFRPRGLVSRQtYHLVSDUDYHQGDDUHFHLWDRXGHVSHVDILQDQFHLUDp
&XVWRVLQFRUULGRV
SRVVtYHO3DWULP{QLROtTXLGRD
&DSLWDOVRFLDO2FDSLWDOVRFLDOVXEVFULWRHLQWHJUDOL]DGR
UHFRQKHFLGDXWLOL]DQGRVHDWD[DGHMXURVHIHWLYD$UHFHLWDGHMXURVpDSUHVHQWDGDFRPRUHFHLWDILQDQFHLUDQDGHPRQVWUDomRGR
GD&RPSDQKLDHPHQRPRQWDQWHGH5 UHSUHVHQWDGRSRU
$PRUWL]DomRDFXPXODGD
UHVXOWDGRGRSHUtRGR7ULEXWDomR,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO$WULEXWDomRVREUHROXFURFRPSUHHQGHRLPSRVWRGH
Do}HVQRPLQDWLYDVVHPYDORUQRPLQDOGLVWULEXtGDVGDVHJXLQWHIRUPD
UHQGDHDFRQWULEXLomRVRFLDORVTXDLVVmRUHJLVWUDGRVFRPEDVHQRSULQFtSLRGDFRPSHWrQFLDHFDOFXODGRVFRQIRUPHDOHJLVODomR
(VWiVHQGRDPRUWL]DGRGHVGHRLQtFLRGDVRSHUDo}HVDWp
7LSRGHDomR
1~PHURGH$o}HV
ILVFDOHPYLJRUWHQGRSRUEDVHR³/XFUR3UHVXPLGR´,PSRVWRVREUHYHQGDV5HFHLWDVGHVSHVDVHDWLYRVVmRUHFRQKHFLGRVOtTXLGRV
RYHQFLPHQWRILQDOGDFRQFHVVmRHP
2UGLQiULDV
GRVLPSRVWRVVREUHYHQGDVH[FHWR L TXDQGRRVLPSRVWRVVREUHYHQGDVLQFRUULGRVQDFRPSUDGHEHQVRXVHUYLoRVQmRIRUHP
3UHIHUHQFLDLV&ODVVH³%´
UHFXSHUiYHLVRLPSRVWRVREUHYHQGDVpUHFRQKHFLGRFRPRSDUWHGRFXVWRGHDTXLVLomRGRDWLYRRXGRLWHPGHGHVSHVDFRQIRUPHR ,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
FDVR H LL YDORUHVDUHFHEHUHDSDJDUDSUHVHQWDGRVFRQMXQWDPHQWHFRPRYDORUGRVLPSRVWRVVREUHYHQGDV,QVWUXPHQWRV
$FRPSRVLomRDFLRQiULDHVWiGHPRQVWUDGDDVHJXLU
ILQDQFHLURV2VLQVWUXPHQWRVILQDQFHLURVVRPHQWHVmRUHFRQKHFLGRVDSDUWLUGDGDWDHPTXHD&RPSDQKLDVHWRUQDSDUWHGDV ,534XDQWLGDGHGHDo}HVHPGHGH]HPEURGHH
GLVSRVLo}HV FRQWUDWXDLV GH XP LQVWUXPHQWR ILQDQFHLUR 4XDQGR UHFRQKHFLGRV VmR LQLFLDOPHQWH UHJLVWUDGRV DR VHX YDORU MXVWR &6//
$FLRQLVWD
2UGLQiULDV
3UHIHUHQFLDLVµµ%¶¶
7RWDO
D
DFUHVFLGRGRVFXVWRVGHWUDQVDomRTXHVHMDPGLUHWDPHQWHDWULEXtYHLVjVXDDTXLVLomRRXHPLVVmRH[FHWRQRFDVRGHDWLYRVH 3,6FRPSHQVDGR
%UHQQDQG(QHUJLD6$
SDVVLYRVILQDQFHLURVFODVVLILFDGRVQDFDWHJRULDDRYDORUMXVWRSRUPHLRGRUHVXOWDGRRQGHWDLVFXVWRVVmRGLUHWDPHQWHODQoDGRVQR &2),16
0LQRULWiULRV
&2),16FRPSHQVDGD D
UHVXOWDGRGRH[HUFtFLR6XDPHQVXUDomRVXEVHTXHQWHRFRUUHDFDGDGDWDGHEDODQoRGHDFRUGRFRPDVUHJUDVHVWDEHOHFLGDVSDUD
D
,55)FRPSHQVDGR
FDGDWLSRGHFODVVLILFDomRGHDWLYRVHSDVVLYRVILQDQFHLURVHP L DWLYRVHSDVVLYRVILQDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLR
E 5HVHUYDGHFDSLWDO5HIHUHVHDRLQFHQWLYRILVFDOGHFRUUHQWHGDUHGXomRGHGR,53-
2XWURVLPSRVWRV
GRUHVXOWDGR LL PDQWLGRVDWpRYHQFLPHQWR LLL HPSUpVWLPRVHUHFHEtYHLV H LY GLVSRQtYHLVSDUDYHQGD2VSULQFLSDLVDWLYRV
SRU HVWDU D &RPSDQKLD ORFDOL]DGD QD iUHD GH DEUDQJrQFLD GD 6XSHULQWHQGrQFLD GR
ILQDQFHLURVUHFRQKHFLGRVSHOD&RPSDQKLDVmR &DL[DHHTXLYDOHQWHVGHFDL[DHFRQWDVDUHFHEHUGHFOLHQWHV2VSULQFLSDLVSDVVLYRV
'HVHQYROYLPHQWRGD$PD]{QLD68'$0$&RPSDQKLDREWHYHRGLUHLWRGHXVXIUXLUGRUHIHULGR
&LUFXODQWH
ILQDQFHLURVUHFRQKHFLGRVSHOD&RPSDQKLDVmR &RQWDVDSDJDUDIRUQHFHGRUHVRXWUDVFRQWDVDSDJDUSDUWHVUHODFLRQDGDVH
FRPSUHHQGLGR HQWUH H FRQIRUPH $WR 'HFODUDWyULR
EHQHItFLR ILVFDO QR SHUtRGR
1mRFLUFXODQWH
GLYLGHQGRVDSDJDU&DL[DHHTXLYDOHQWHVGHFDL[D2VHTXLYDOHQWHVGHFDL[DVmRPDQWLGRVFRPDILQDOLGDGHGHDWHQGHUD
([HFXWLYRH[DUDGRSHOD5HFHLWD)HGHUDOGR%UDVLO 5)% HP7HQGRHPYLVWDRIDWRGHWHU
FRPSURPLVVRVGHFDL[DGHFXUWRSUD]RHQmRSDUDLQYHVWLPHQWRRXRXWURVILQV$&RPSDQKLDFRQVLGHUDHTXLYDOHQWHVGHFDL[DXPD D 5HIHUHPVHjVREULJDo}HVILVFDLVFRPSHQVDGDVFRP RSWDGR GHVGH R DQR GH SHOR UHJLPH WULEXWiULR GR /XFUR 3UHVXPLGR D &RPSDQKLD
DSOLFDomR ILQDQFHLUD GH FRQYHUVLELOLGDGH LPHGLDWD FRP SUD]R GH YHQFLPHQWR LQIHULRU D QRYHQWD GLDV HP XP PRQWDQWH FUpGLWRV GH ,55) TXH HVWmR HP SURFHVVR GH XVXIUXLX GR UHIHULGR EHQHItFLR ILVFDO DSHQDV QRV H[HUFtFLRV GH H TXDQGR IH] R
FRQKHFLGR GH FDL[D H HVWDQGR VXMHLWD D XP LQVLJQLILFDQWH ULVFR GH PXGDQoD GH YDORU 3RU FRQVHJXLQWH XP LQYHVWLPHQWR KRPRORJDomR MXQWR j 5HFHLWD )HGHUDO GR %UDVLO 5)% UHJLVWURQDFRQWDGHUHVHUYDGHFDSLWDOHPFRQIRUPLGDGHFRPDOHJLVODomRVRFLHWiULDYLJHQWHj
QRUPDOPHQWHVHTXDOLILFDFRPRHTXLYDOHQWHGHFDL[DTXDQGRWHPYHQFLPHQWRGHFXUWRSUD]RSRUH[HPSORWUrVPHVHVRXPHQRVD FRQIRUPH1RWDD
pSRFD$SHVDUGDUHIHULGDFRQWDGHUHVHUYDGHFDSLWDOWHUVLGRH[WLQWDSHOD/HLD
FRQWDU GD GDWD GD FRQWUDWDomR ,PRELOL]DGR 6mR DSUHVHQWDGRV DR FXVWR GH DTXLVLomR RX FRQVWUXomR GHGX]LGRV GD 'LYLGHQGRV SDJRV H SURSRVWRV (P GH $GPLQLVWUDomRGD&RPSDQKLDGHFLGLXSHODPDQXWHQomRGRVDOGRDWpTXHVHMDGHOLEHUDGRVREUH
GHSUHFLDomRDFXPXODGDHGHTXDLVTXHUSHUGDVDFXPXODGDVSRUUHGXomRDRYDORUUHFXSHUiYHOVHIRURFDVR2UHIHULGRFXVWRLQFOXLR GH]HPEUR GH D &RPSDQKLD WHP XP VDOGR GH DVXDGHVWLQDomRF 5HVHUYDGHOXFURV L 5HVHUYDOHJDO(PFRQIRUPLGDGHFRPRDUWLJR
FXVWRGHUHSRVLomRGHSDUWHGRLPRELOL]DGRHRVFXVWRVGHHPSUpVWLPRGHSURMHWRVGHFRQVWUXomRGHORQJRSUD]RTXDQGRRVFULWpULRV GLYLGHQGRVDSDJDUQRPRQWDQWHGH5 5 GD/HLGROXFUROtTXLGRGRSHUtRGR FLQFRSRUFHQWR VHUmRDSOLFDGRVDQWHVGH
GHUHFRQKHFLPHQWRIRUHPVDWLVIHLWRV7RGRVRVFXVWRVGHUHSDURVHPDQXWHQomRVmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGR FRUUHVSRQGHQWHV DRV GLYLGHQGRV PtQLPRV TXDOTXHURXWUDGHVWLQDomRQDFRQVWLWXLomRGD5HVHUYD/HJDOTXHQmRH[FHGHUiGH YLQWH
TXDQGRLQFRUULGRV$GHSUHFLDomRGRVEHQVpFDOFXODGDSHORPpWRGROLQHDUjVWD[DVPHQFLRQDGDVQD1RWDGHILQLGDVSRUPHLRGH REULJDWyULRV GH GR OXFUR DMXVWDGR GR H[HUFtFLR GH SRUFHQWR GRFDSLWDOVRFLDO(PGHGH]HPEURGHHHVVDUHVHUYDPRQWDYDHP5
UHJXODPHQWDomRGD$1((/DVTXDLVOHYDPHPFRQVLGHUDomRRWHPSRGHYLGD~WLOHVWLPDGRGRVEHQV,QWDQJtYHO$WLYRV H VDOGR GRV GLYLGHQGRV GLVWULEXtGRV GH SHUtRGRV LL 'LYLGHQGRV DGLFLRQDLV SURSRVWRV $ $GPLQLVWUDomR SURS{V j GHOLEHUDomR GD
$VVHPEOHLD*HUDO2UGLQiULDGRV$FLRQLVWDVDGLVWULEXLomRGHVDOGRGHGLYLGHQGRVDGLFLRQDLVDR
LQWDQJtYHLVDGTXLULGRVVHSDUDGDPHQWHVmRPHQVXUDGRVDRFXVWRGHDTXLVLomRQRPRPHQWRGRVHXUHFRQKHFLPHQWRLQLFLDO$SyVR DQWHULRUHVFRQIRUPHGHPRQVWUDGRDVHJXLU
PtQLPRREULJDWyULRQRYDORUGH5 5 UHODWLYRDGLVWULEXLomRGROXFURGR
UHFRQKHFLPHQWRLQLFLDORVDWLYRVLQWDQJtYHLVVmRDSUHVHQWDGRVDRFXVWRPHQRVDPRUWL]DomRDFXPXODGDHSHUGDVDFXPXODGDVSRU
SHUtRGR GH G 'HVWLQDomR GH OXFURV 'H DFRUGR FRP R (VWDWXWR GD &RPSDQKLD p
UHGXomRDRYDORUUHFXSHUiYHO 3HUGDSRUUHGXomRDRYDORUUHFXSHUiYHOGHDWLYRVQmRILQDQFHLURV$ $GPLQLVWUDomRUHYLVD 6DOGRGHGLYLGHQGRVQRLQtFLRGRSHUtRGR DVVHJXUDGR DRV DFLRQLVWDV GLYLGHQGR PtQLPR REULJDWyULR GH VREUH R OXFUR OtTXLGR GR
DQXDOPHQWHRYDORUFRQWiELOOtTXLGRGRVDWLYRVFRPRREMHWLYRGHDYDOLDUHYHQWRVRXPXGDQoDVQDVFLUFXQVWkQFLDVHFRQ{PLFDV 'LYLGHQGRVSDJRV
SHUtRGRDMXVWDGRQDIRUPDGD/HLFRQIRUPHGHPRQVWUDGRDVHJXLU
RSHUDFLRQDLV RX WHFQROyJLFDV TXH SRVVDP LQGLFDU GHWHULRUDomR RX SHUGD GH VHX YDORU UHFXSHUiYHO 6HQGR WDLV HYLGrQFLDV 'LYLGHQGRVDSURYDGRVGHDQRV
/XFUROtTXLGRGRSHUtRGR
LGHQWLILFDGDVHRYDORUFRQWiELOOtTXLGRH[FHGHURYDORUUHFXSHUiYHOpUHFRQKHFLGDXPDSHUGDSHODGHVYDORUL]DomRDMXVWDQGRRYDORU DQWHULRUHV
FRQWiELOOtTXLGRDRYDORUUHFXSHUiYHO3URYLV}HV3URYLV}HVVmRUHFRQKHFLGDVTXDQGR L D&RPSDQKLDWHPXPDREULJDomR 'LYLGHQGRVLQWHUPHGLiULRV
&RQVWLWXLomRGHUHVHUYDOHJDO
0tQLPRREULJDWyULR
SUHVHQWH OHJDORXQmRIRUPDOL]DGD HPFRQVHTXrQFLDGHXPHYHQWRSDVVDGR LL pSURYiYHOTXHEHQHItFLRVHFRQ{PLFRVVHMDP
%DVHGHFiOFXORSDUDGLVWULEXLomR
'LYLGHQGRVPtQLPRVREULJDWyULRV
UHTXHULGRVSDUDOLTXLGDUDREULJDomR H LLL XPDHVWLPDWLYDFRQILiYHOGRYDORUGDREULJDomRSRVVDVHUIHLWD$GHVSHVDUHODWLYDDR $GLFLRQDO
UHFRQKHFLPHQWRGHTXDOTXHUSURYLVmRpDSUHVHQWDGDQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR3URYLV}HVSDUDULVFRVWULEXWiULRV 6DOGRGHGLYLGHQGRVQRILPGRSHUtRGR )RLDWLQJLGRROLPLWHGHGRFDSLWDOVRFLDO