DOEPE 11/04/2019 - Pág. 23 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 11 de abril de 2019
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCVI • NÀ 69 - 23
86,1$ 9(/+$ (1(5*e7,&$ 6$ &13- 1 ± 5HODWyULR GD $GPLQLVWUDomR 'DQGR FXPSULPHQWR jV DPRUWL]DQGRRDWLYRGLIHULGR3HUGDSRUUHGXomRDRYDORUUHFXSHUiYHOGHDWLYRVQmR¿QDQFHLURV$$GPLQLVWUDomRUHYLVDDQXDOPHQWHR
GHWHUPLQDo}HVOHJDLVHHVWDWXWiULDVVXEPHWHPRVjDSUHFLDomRGRV6HQKRUHV$FLRQLVWDV&OLHQWHV)RUQHFHGRUHVHj6RFLHGDGHHPJHUDO YDORU FRQWiELO OtTXLGR GRV DWLYRV FRP R REMHWLYR GH DYDOLDU HYHQWRV RX PXGDQoDV QDV FLUFXQVWkQFLDV HFRQ{PLFDV RSHUDFLRQDLV RX
HVWH5HODWyULRGD$GPLQLVWUDomRHDV'HPRQVWUDo}HV&RQWiEHLVUHIHUHQWHVDRH[HUFtFLRVRFLDO¿QGRHPDFRPSDQKDGRVGR WHFQROyJLFDVTXHSRVVDPLQGLFDUSHUGDGHVHXYDORUUHFXSHUiYHO6HQGRWDLVHYLGrQFLDVLGHQWL¿FDGDVHRYDORUFRQWiELOOtTXLGRH[FHGHUR
5HODWyULR GRV $XGLWRUHV ,QGHSHQGHQWHV 2 DQR GH IRL SRVLWLYR PDV DV GL¿FXOGDGHV H RV ULVFRV UHODWDGRV HP RXWURV H[HUFtFLRV YDORUUHFXSHUiYHOpUHFRQKHFLGDXPDSHUGDHVWLPDGDSHODGHVYDORUL]DomRGRDWLYRDMXVWDQGRRYDORUFRQWiELOOtTXLGRDRYDORUUHFXSHUiYHO
SHUPDQHFHUDP DPHDoDQGR D &RPSDQKLD HVSHFLDOPHQWH HP IXQomR GD FUHVFHQWH ³MXGLFLDOL]DomR´ GR 6HWRU (OpWULFR ,QREVWDQWH HVVDV 3URYLV}HV 3URYLV}HV VmR UHFRQKHFLGDV TXDQGR L D &RPSDQKLD WHP XPD REULJDomR SUHVHQWH OHJDO RX QmR IRUPDOL]DGD HP
GL¿FXOGDGHVD&RPSDQKLDFRQWLQXRXUHDOL]DQGRLQYHVWLPHQWRVHDYDQoDQGRQRGHVHQYROYLPHQWRGRVVHXVSURMHWRV5HFLIH±3($'LUHWRULD FRQVHTXrQFLDGHXPHYHQWRSDVVDGR LL pSURYiYHOTXHEHQHItFLRVHFRQ{PLFRVVHMDPUHTXHULGRVSDUDOLTXLGDUDREULJDomRH LLL XPD
HVWLPDWLYDFRQ¿iYHOGRYDORUGDREULJDomRSRVVDVHUIHLWD$GHVSHVDUHODWLYDDRUHFRQKHFLPHQWRGHTXDOTXHUSURYLVmRpDSUHVHQWDGDQD
%DODQoRSDWULPRQLDOGHGH]HPEURGHH
'HPRQVWUDomRGRVÀX[RVGHFDL[D
GHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR3URYLV}HVSDUDULVFRVWULEXWiULRVFtYHLVHWUDEDOKLVWDV$&RPSDQKLDQmRSRVVXLFRQWLQJrQFLDVFXMD
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
3HUtRGRV¿QGRVHPGHGH]HPEURGHH
DYDOLDomRGDVH[SHFWDWLYDVGHSHUGDVGHVHXVDVVHVVRUHVMXUtGLFRVVHMD³SURYiYHO´$VVLPQHQKXPDSURYLVmRSDUDSHUGDVIRLFRQVWLWXtGDHP
1RWDV
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
H-XOJDPHQWRVHVWLPDWLYDVHSUHPLVVDVFRQWiEHLVVLJQL¿FDWLYRV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPHODERUDGDVFRPEDVH
$WLYR
HP GLYHUVDV EDVHV GH DYDOLDomR XWLOL]DGDV QDV HVWLPDWLYDV FRQWiEHLV $V HVWLPDWLYDV FRQWiEHLV HQYROYLGDV QD SUHSDUDomR GDV
&LUFXODQWH
GHPRQVWUDo}HVFRQWiEHLVIRUDPEDVHDGDVHPIDWRUHVREMHWLYRVHVXEMHWLYRVFRPEDVHQRMXOJDPHQWRGD$GPLQLVWUDomRSDUDGHWHUPLQDomR
)OX[RGHFDL[DGDVDWLYLGDGHVRSHUDFLRQDLV
&DL[DHHTXLYDOHQWHVGHFDL[D
GRYDORUDGHTXDGRDVHUUHJLVWUDGRQDVGHPRQVWUDo}HVFRQWiEHLV $OLTXLGDomRGDVWUDQVDo}HVHQYROYHQGRHVVDVHVWLPDWLYDVSRGHUi
3UHMXt]RGRSHUtRGR
7RWDOGRDWLYRFLUFXODQWH
UHVXOWDU HP YDORUHV VLJQL¿FDWLYDPHQWH GLYHUJHQWHV GRV UHJLVWUDGRV QDV GHPRQVWUDo}HV FRQWiEHLV GHYLGR DR WUDWDPHQWR SUREDELOtVWLFR
&DL[DDSOLFDGRQDVDWLYLGDGHVRSHUDFLRQDLV
1mRFLUFXODQWH
LQHUHQWHDRSURFHVVRGHHVWLPDWLYD$&RPSDQKLDUHYLVDVXDVHVWLPDWLYDVHSUHPLVVDVSHORPHQRVDQXDOPHQWH
)OX[RGHFDL[DGDVDWLYLGDGHVGHLQYHVWLPHQWR
,QWDQJtYHO
$SOLFDomRQRLQWDQJtYHO
'LIHULGR
,QWDQJtYHO2DWLYRLQWDQJtYHOQRPRQWDQWHGH 3DWULP{QLROtTXLGRD &DSLWDO VRFLDO 2 FDSLWDO VRFLDO VXEVFULWR HP GH
&DL[D OLTXLGR DSOLFDGR QDV DWLYLGDGHV GH
7RWDOGRDWLYRQmRFLUFXODQWH
5 5 HVWi UHSUHVHQWDGR SRU GH]HPEURGHHpGH5HHVWiGLVWULEXtGRGDVHJXLQWHIRUPD
LQYHVWLPHQWR
7RWDOGRDWLYR
JDVWRV HP GHVHQYROYLPHQWR GH SURMHWRV
)OX[RGHFDL[DGDVDWLYLGDGHVGH¿QDQFLDPHQWR
3DVVLYR
$FLRQLVWDV
$o}HV
E $GLDQWDPHQWRV SDUD IXWXUR
UHODFLRQDGRVjFRQVWUXomRGD3&+8VLQD9HOKD
&DSWDomRGHP~WXRGHSDUWHVUHODFLRQDGDV
1mRFLUFXODQWH
8VLQD9HOKD+ROGLQJ6$
DXPHQWR GH FDSLWDO 5HIHUHVH D
&DL[D OLTXLGR JHUDGR SHODV DWLYLGDGHV GH
3DUWHVUHODFLRQDGDV
2XWURVDFLRQLVWDV
DGLDQWDPHQWRV FRQFHGLGRV SHORV
¿QDQFLDPHQWR
7RWDOGRSDVVLYRQmRFLUFXODQWH
3DUWHVUHODFLRQDGDV
DFLRQLVWDV GHVWLQDGRV SDUD R
3DVVLYR
$ F U p V F L P R G H F U p V F L P R Q R F D L [ D H
3DVVLYRDGHVFREHUWR
DXPHQWRGHFDSLWDOTXHVHUmRHIHWLYDPHQWHFDSLWDOL]DGRVHP, Q V W U X P H Q W R V
HTXLYDOHQWHVGHFDL[D
&DSLWDOVRFLDO
1mRFLUFXODQWH
¿QDQFHLURV 2V SULQFLSDLV LQVWUXPHQWRV ¿QDQFHLURV GD &RPSDQKLD VmR FDL[D H
8VLQD9HOKD+ROGLQJ6$
'HPRQVWUDomRGRDFUpVFLPR GHVFUpVFLPR QR
3UHMXt]RVDFXPXODGRV
HTXLYDOHQWHVGHFDL[DHSDUWHVUHODFLRQDGDV(PGHGH]HPEURGHHQmR
FDL[DHHTXLYDOHQWHVGHFDL[D
1R¿QDOGRSHUtRGR
$GLDQWDPHQWRVSDUDIXWXURDXPHQWRGHFDSLWDO
6REUH DV RSHUDo}HV GH P~WXR Ki LQFLGrQFLD H KDYLD GLIHUHQoD VLJQL¿FDWLYD HQWUH RV YDORUHV FRQWiEHLV H RV GH PHUFDGR SDUD RV
1RLQtFLRGRSHUtRGR
7RWDOGRSDVVLYRDGHVFREHUWR
UHFROKLPHQWR GH ,2) QRV WHUPRV GD OHJLVODomR LQVWUXPHQWRV¿QDQFHLURVGD&RPSDQKLD$&RPSDQKLDQmRUHDOL]DRSHUDo}HVGHKHGJH
VZDSRXTXDLVTXHURXWUDVRSHUDo}HVTXHHQYROYDPLQVWUXPHQWRV¿QDQFHLURVGHULYDWLYRV
$ F U p V F L P R G H V F U p V F L P R Q R F D L [ D H
7RWDOGRSDVVLYRHSDVVLYRDGHVFREHUWR
¿VFDO
HTXLYDOHQWHVGHFDL[D
5HODWyULRGRDXGLWRULQGHSHQGHQWHVREUHDVGHPRQVWUDo}HVFRQWiEHLV$RV$FLRQLVWDVH$GPLQLVWUDGRUHVGD8VLQD9HOKD(QHUJpWLFD
'HPRQVWUDomRGRUHVXOWDGR3HUtRGRV¿QGRVHPGHGH]HPEUR
6$5HFLIH3(2SLQLmR([DPLQDPRVDVGHPRQVWUDo}HVFRQWiEHLVGD8VLQD9HOKD(QHUJpWLFD6$ ³&RPSDQKLD´ TXHFRPSUHHQGHPR
GHH 9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLVH[FHWRR
'HPRQVWUDomRGRUHVXOWDGRDEUDQJHQWH
EDODQoRSDWULPRQLDOHPGHGH]HPEURGHHDVUHVSHFWLYDVGHPRQVWUDo}HVGRUHVXOWDGRGRUHVXOWDGRDEUDQJHQWHGDVPXWDo}HVGR
SUHMXt]RSRUDomRHPUHDLV
3HUtRGRV¿QGRVHPGHGH]HPEURGHH
SDWULP{QLROtTXLGRHGRVÀX[RVGHFDL[DSDUDRH[HUFtFLR¿QGRQHVVDGDWDEHPFRPRDVFRUUHVSRQGHQWHVQRWDVH[SOLFDWLYDVLQFOXLQGRR
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
UHVXPRGDVSULQFLSDLVSROtWLFDVFRQWiEHLV(PQRVVDRSLQLmRDVGHPRQVWUDo}HVFRQWiEHLVDFLPDUHIHULGDVDSUHVHQWDPDGHTXDGDPHQWHHP
'HVSHVDVRSHUDFLRQDLV
WRGRVRVDVSHFWRVUHOHYDQWHVDSRVLomRSDWULPRQLDOH¿QDQFHLUDGD8VLQD9HOKD(QHUJpWLFD6$HPGHGH]HPEURGHRGHVHPSHQKR
*HUDLVHDGPLQLVWUDWLYDV
GHVXDVRSHUDo}HVHRVVHXVÀX[RVGHFDL[DSDUDRH[HUFtFLR¿QGRQHVVDGDWDGHDFRUGRFRPDVSUiWLFDVFRQWiEHLVDGRWDGDVQR%UDVLO%DVH
2XWUDVGHVSHVDVRSHUDFLRQDLV
3UHMXt]RGRSHUtRGR
SDUDRSLQLmR1RVVDDXGLWRULDIRLFRQGX]LGDGHDFRUGRFRPDVQRUPDVEUDVLOHLUDVHLQWHUQDFLRQDLVGHDXGLWRULD1RVVDVUHVSRQVDELOLGDGHV
2XWURVUHVXOWDGRVDEUDQJHQWHV
HP FRQIRUPLGDGH FRP WDLV QRUPDV HVWmR GHVFULWDV QD VHomR D VHJXLU LQWLWXODGD ³5HVSRQVDELOLGDGHV GR DXGLWRU SHOD DXGLWRULD GDV
3UHMXt]RGRH[HUFtFLR
5HVXOWDGRDEUDQJHQWHGRSHUtRGR
GHPRQVWUDo}HVFRQWiEHLV´6RPRVLQGHSHQGHQWHVHPUHODomRj&RPSDQKLDGHDFRUGRFRPRVSULQFtSLRVpWLFRVUHOHYDQWHVSUHYLVWRVQR
3UHMXt]RSRUDomRHP5HDLV
&yGLJRGHeWLFD3UR¿VVLRQDOGR&RQWDGRUHQDVQRUPDVSUR¿VVLRQDLVHPLWLGDVSHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGHHFXPSULPRVFRPDV
'HPRQVWUDomRGDVPXWDo}HVGRSDWULP{QLROtTXLGR3HUtRGRV¿QGRVHPGHGH]HPEURGHH
GHPDLVUHVSRQVDELOLGDGHVpWLFDVGHDFRUGRFRPHVVDVQRUPDV$FUHGLWDPRVTXHDHYLGrQFLDGHDXGLWRULDREWLGDpVX¿FLHQWHHDSURSULDGD
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
SDUD IXQGDPHQWDU QRVVD RSLQLmR 5HVSRQVDELOLGDGHV GD $GPLQLVWUDomR H GD JRYHUQDQoD SHODV GHPRQVWUDo}HV FRQWiEHLV $
$GLDQWDPHQWRV
$GPLQLVWUDomRpUHVSRQViYHOSHODHODERUDomRHDGHTXDGDDSUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVGHDFRUGRFRPDVSUiWLFDVFRQWiEHLV
SDUDIXWXUR
7RWDO
DGRWDGDVQR%UDVLOHSHORVFRQWUROHVLQWHUQRVTXHHODGHWHUPLQRXFRPRQHFHVViULRVSDUDSHUPLWLUDHODERUDomRGHGHPRQVWUDo}HVFRQWiEHLV
&DSLWDO
3UHMXt]RV
DXPHQWRGH
SDVVLYRD OLYUHV GH GLVWRUomR UHOHYDQWH LQGHSHQGHQWHPHQWH VH FDXVDGD SRU IUDXGH RX HUUR 1D HODERUDomR GDV GHPRQVWUDo}HV FRQWiEHLV D
VRFLDO
DFXPXODGRV
FDSLWDO
GHVFREHUWR $GPLQLVWUDomRpUHVSRQViYHOSHODDYDOLDomRGDFDSDFLGDGHGHD&RPSDQKLDFRQWLQXDURSHUDQGRGLYXOJDQGRTXDQGRDSOLFiYHORVDVVXQWRV
6XEWRWDO
6DOGRVHPGHGH]HPEURGH
UHODFLRQDGRVFRPDVXDFRQWLQXLGDGHRSHUDFLRQDOHRXVRGHVVDEDVHFRQWiELOQDHODERUDomRGDVGHPRQVWUDo}HVFRQWiEHLVDQmRVHUTXHD
3UHMXt]RGRSHUtRGR
$GPLQLVWUDomR SUHWHQGD OLTXLGDU D &RPSDQKLD RX FHVVDU VXDV RSHUDo}HV RX QmR WHQKD QHQKXPD DOWHUQDWLYD UHDOLVWD SDUD HYLWDU R
6DOGRVHPGHGH]HPEURGH
HQFHUUDPHQWRGDVRSHUDo}HV2VUHVSRQViYHLVSHODJRYHUQDQoDGD&RPSDQKLDVmRDTXHOHVFRPUHVSRQVDELOLGDGHSHODVXSHUYLVmRGR
3UHMXt]RGRSHUtRGR
SURFHVVRGHHODERUDomRGDVGHPRQVWUDo}HVFRQWiEHLV5HVSRQVDELOLGDGHVGRDXGLWRUSHODDXGLWRULDGDVGHPRQVWUDo}HVFRQWiEHLV
6DOGRVHPGHGH]HPEURGH
1RVVRV REMHWLYRV VmR REWHU VHJXUDQoD UD]RiYHO GH TXH DV GHPRQVWUDo}HV FRQWiEHLV WRPDGDV HP FRQMXQWR HVWmR OLYUHV GH GLVWRUomR
1RWDVH[SOLFDWLYDVjVGHPRQVWUDo}HVFRQWiEHLVGHGH]HPEURGHH 9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV ,QIRUPDo}HV UHOHYDQWHLQGHSHQGHQWHPHQWHVHFDXVDGDSRUIUDXGHRXHUURHHPLWLUUHODWyULRGHDXGLWRULDFRQWHQGRQRVVDRSLQLmR6HJXUDQoDUD]RiYHOp
VREUHD&RPSDQKLD$8VLQD9HOKD(QHUJpWLFD6$ ³&RPSDQKLD´ pXPDVRFLHGDGHSRUDo}HVGHFDSLWDOIHFKDGRFRPVHGHQDFLGDGHGR XPDOWRQtYHOGHVHJXUDQoDPDVQmRXPDJDUDQWLDGHTXHDDXGLWRULDUHDOL]DGDGHDFRUGRFRPDVQRUPDVEUDVLOHLUDVHLQWHUQDFLRQDLVGH
5HFLIH3(TXHWHPFRPRREMHWRVRFLDODSURGXomRHFRPHUFLDOL]DomRGHHQHUJLDHOpWULFDFRPDSURYHLWDPHQWRGHUHFXUVRVKtGULFRVQDWXUDLV DXGLWRULDVHPSUHGHWHFWDPDVHYHQWXDLVGLVWRUo}HVUHOHYDQWHVH[LVWHQWHV$VGLVWRUo}HVSRGHPVHUGHFRUUHQWHVGHIUDXGHRXHUURHVmR
PHGLDQWHDXWRUL]DomRGR3RGHU3~EOLFRFRPSHWHQWH)RLVROLFLWDGRMXQWRj$1((/DUHQRYDomRGR'563&+GD3&+8VLQD9HOKD'HVSDFKR FRQVLGHUDGDVUHOHYDQWHVTXDQGRLQGLYLGXDOPHQWHRXHPFRQMXQWRSRVVDPLQÀXHQFLDUGHQWURGHXPDSHUVSHFWLYDUD]RiYHODVGHFLV}HV
$1((/QXPDYH]TXHQmRREWLYHPRVROLFHQFLDPHQWRDPELHQWDOQRSUD]RHVWDEHOHFLGRGHDQRV$VVLPFRQIRUPHDVUHJUDV HFRQ{PLFDVGRVXVXiULRVWRPDGDVFRPEDVHQDVUHIHULGDVGHPRQVWUDo}HVFRQWiEHLV&RPRSDUWHGDDXGLWRULDUHDOL]DGDGHDFRUGRFRPDV
GD5HVROXomR1RUPDWLYDQHVWDPRVQRDJXDUGRGDUHQRYDomRSDUDSURVVHJXLUFRPDREWHQomRGROLFHQFLDPHQWRDPELHQWDOH QRUPDVEUDVLOHLUDVHLQWHUQDFLRQDLVGHDXGLWRULDH[HUFHPRVMXOJDPHQWRSUR¿VVLRQDOHPDQWHPRVFHWLFLVPRSUR¿VVLRQDODRORQJRGDDXGLWRULD
SRVWHULRUVROLFLWDomRGDRXWRUJDGHDXWRUL]DomR&RQVLGHUDQGRTXHDXWRUL]DomRSDUDDLPSODQWDomRGRHPSUHHQGLPHQWRDLQGDQmRIRLREWLGD $OpPGLVVR,GHQWL¿FDPRVHDYDOLDPRVRVULVFRVGHGLVWRUomRUHOHYDQWHQDVGHPRQVWUDo}HVFRQWiEHLVLQGHSHQGHQWHPHQWHVHFDXVDGDSRU
DVREUDVGD3&+8VLQD9HOKDDLQGDQmRIRUDPLQLFLDGDVHDSUHYLVmRpGHTXHDVPHVPDVVyRFRUUDPDSDUWLUGH'LDQWHGLVVRD IUDXGHRXHUURSODQHMDPRVHH[HFXWDPRVSURFHGLPHQWRVGHDXGLWRULDHPUHVSRVWDDWDLVULVFRVEHPFRPRREWHPRVHYLGrQFLDGHDXGLWRULD
$GPLQLVWUDomRGD&RPSDQKLDHVWLPDTXHDRSHUDomRFRPHUFLDOGD8VLQDRFRUUDDR¿QDOGRDQRGH$FRQWURODGRUDJDUDQWHRVXSRUWH DSURSULDGDHVX¿FLHQWHSDUDIXQGDPHQWDUQRVVDRSLQLmR2ULVFRGHQmRGHWHFomRGHGLVWRUomRUHOHYDQWHUHVXOWDQWHGHIUDXGHpPDLRUGRTXH
¿QDQFHLURSDUDHYHQWXDLVQHFHVVLGDGHVGHFDL[DGD&RPSDQKLD$SUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVHVXPiULRGDVSUiWLFDV RSURYHQLHQWHGHHUURMiTXHDIUDXGHSRGHHQYROYHURDWRGHEXUODURVFRQWUROHVLQWHUQRVFRQOXLRIDOVL¿FDomRRPLVVmRRXUHSUHVHQWDo}HV
FRQWiEHLV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPSUHSDUDGDVHHVWmRVHQGRDSUHVHQWDGDVGHDFRUGRFRPDVSROtWLFDVFRQWiEHLVDGRWDGDVQR IDOVDVLQWHQFLRQDLV2EWHPRVHQWHQGLPHQWRGRVFRQWUROHVLQWHUQRVUHOHYDQWHVSDUDDDXGLWRULDSDUDSODQHMDUPRVSURFHGLPHQWRVGHDXGLWRULD
%UDVLOTXHFRPSUHHQGHPRVGRFXPHQWRVHPLWLGRVSHOR&RPLWrGH3URQXQFLDPHQWRV&RQWiEHLV &3& DSURYDGRVSHOR&RQVHOKR)HGHUDOGH DSURSULDGRVjVFLUFXQVWkQFLDVPDVQmRFRPRREMHWLYRGHH[SUHVVDUPRVRSLQLmRVREUHDH¿FiFLDGRVFRQWUROHVLQWHUQRVGD&RPSDQKLD
&RQWDELOLGDGH &)& FRPR1RUPDV%UDVLOHLUDVGH&RQWDELOLGDGH 1%& 2H[HUFtFLRVRFLDOGD&RPSDQKLDFRPSUHHQGHRSHUtRGRGHRGH $YDOLDPRVDDGHTXDomRGDVSROtWLFDVFRQWiEHLVXWLOL]DGDVHDUD]RDELOLGDGHGDVHVWLPDWLYDVFRQWiEHLVHUHVSHFWLYDVGLYXOJDo}HVIHLWDVSHOD
MDQHLURDGHGH]HPEUR$VGHPRQVWUDo}HVFRQWiEHLVGD&RPSDQKLDSDUDRH[HUFtFLR¿QGRHPGHGH]HPEURGHIRUDPDXWRUL]DGDV $GPLQLVWUDomR&RQFOXtPRVVREUHDDGHTXDomRGRXVRSHOD$GPLQLVWUDomRGDEDVHFRQWiELOGHFRQWLQXLGDGHRSHUDFLRQDOHFRPEDVHQDV
SDUDHPLVVmRGHDFRUGRFRPDUHVROXomRGD$GPLQLVWUDomRHPGHPDUoRGH7ULEXWDomR,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO HYLGrQFLDVGHDXGLWRULDREWLGDVVHH[LVWHLQFHUWH]DUHOHYDQWHHPUHODomRDHYHQWRVRXFRQGLo}HVTXHSRVVDPOHYDQWDUG~YLGDVLJQL¿FDWLYDHP
$WULEXWDomRVREUHROXFURFRPSUHHQGHRLPSRVWRGHUHQGDHDFRQWULEXLomRVRFLDORVTXDLVVmRUHJLVWUDGRVFRPEDVHQRSULQFtSLRGD UHODomRjFDSDFLGDGHGHFRQWLQXLGDGHRSHUDFLRQDOGD&RPSDQKLD6HFRQFOXLUPRVTXHH[LVWHLQFHUWH]DUHOHYDQWHGHYHPRVFKDPDUDWHQomR
FRPSHWrQFLDHFDOFXODGRVFRQIRUPHOHJLVODomR¿VFDOHPYLJRUWHQGRSRUEDVHR³/XFUR3UHVXPLGR´ ,QVWUXPHQWRV¿QDQFHLURV2V HPQRVVRUHODWyULRGHDXGLWRULDSDUDDVUHVSHFWLYDVGLYXOJDo}HVQDVGHPRQVWUDo}HVFRQWiEHLVRXLQFOXLUPRGL¿FDomRHPQRVVDRSLQLmRVHDV
LQVWUXPHQWRV¿QDQFHLURVVRPHQWHVmRUHFRQKHFLGRVDSDUWLUGDGDWDHPTXHD&RPSDQKLDVHWRUQDSDUWHGDVGLVSRVLo}HVFRQWUDWXDLVGHXP GLYXOJDo}HVIRUHPLQDGHTXDGDV1RVVDVFRQFOXV}HVHVWmRIXQGDPHQWDGDVQDVHYLGrQFLDVGHDXGLWRULDREWLGDVDWpDGDWDGHQRVVRUHODWyULR
LQVWUXPHQWR ¿QDQFHLUR 2 SULQFLSDO DWLYR ¿QDQFHLUR UHFRQKHFLGR SHOD &RPSDQKLD p FDL[D H HTXLYDOHQWHV GH FDL[D 2 SULQFLSDO SDVVLYR 7RGDYLDHYHQWRVRXFRQGLo}HVIXWXUDVSRGHPOHYDUD&RPSDQKLDDQmRPDLVVHPDQWHUHPHPFRQWLQXLGDGHRSHUDFLRQDO&RPXQLFDPRQRV
¿QDQFHLURUHFRQKHFLGRSHOD&RPSDQKLDpSDUWHVUHODFLRQDGDV&DL[DHHTXLYDOHQWHVGHFDL[D2VHTXLYDOHQWHVGHFDL[DVmRPDQWLGRV FRPRVUHVSRQViYHLVSHODJRYHUQDQoDDUHVSHLWRHQWUHRXWURVDVSHFWRVGRDOFDQFHSODQHMDGRGDpSRFDGDDXGLWRULDHGDVFRQVWDWDo}HV
FRPD¿QDOLGDGHGHDWHQGHUDFRPSURPLVVRVGHFDL[DGHFXUWRSUD]RHQmRSDUDLQYHVWLPHQWRRXRXWURV¿QV ,QWDQJtYHLV$WLYRV VLJQL¿FDWLYDV GH DXGLWRULD LQFOXVLYH DV HYHQWXDLV GH¿FLrQFLDV VLJQL¿FDWLYDV QRV FRQWUROHV LQWHUQRV TXH LGHQWL¿FDPRV GXUDQWH QRVVRV
LQWDQJtYHLV DGTXLULGRV VHSDUDGDPHQWH VmR PHQVXUDGRV DR FXVWR GH DTXLVLomR QR PRPHQWR GR VHX UHFRQKHFLPHQWR LQLFLDO $SyV R WUDEDOKRV 5HFLIH GH PDUoR GH (5167 <281*$XGLWRUHV ,QGHSHQGHQWHV 66 &5&632 )UDQFLVFR GD 6LOYD
UHFRQKHFLPHQWRLQLFLDORVDWLYRVLQWDQJtYHLVVmRDSUHVHQWDGRVDRFXVWRPHQRVDPRUWL]DomRDFXPXODGDHSHUGDVDFXPXODGDVSRUUHGXomR 3LPHQWHO&RQWDGRU&5&63273(
DRYDORUUHFXSHUiYHO 'LIHULGR&RQIRUPHIDFXOWDGRSHOD/HLQD&RPSDQKLDRSWRXSHODPDQXWHQomRGRVVDOGRVGRDWLYR
&RQWDGRU$PLOWRQ4XHLUR]GD6LOYD±&5&3(2
GLIHULGRUHJLVWUDGRHPGHGH]HPEURGHDWpVXDFRPSOHWDDPRUWL]DomR3RUHVWDUHPIDVHSUpRSHUDFLRQDOD&RPSDQKLDQmRYHP
'LUHWRULD0R]DUWGH6LTXHLUD&DPSRV$UD~MRH5LFDUGR-HU{QLPR3HUHLUD5rJR-~QLRU