Correcciones Estatuto Curia 2020

(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
2ULHQWDFLRQHVMXUtGLFRSDVWRUDOHVVREUHOD&XULD\RWURVVHUYLFLRV(FOHVLDOHV
(67$7872'(&85,$
',Ï&(6,6'($/$-8(/$
2ULHQWDFLRQHVMXUtGLFRSDVWRUDOHV
VREUHOD&XULD\RWURVVHUYLFLRV(FOHVLDOHV
-1-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
Ë1',&(
3UHVHQWDFLyQ 7
,QWURGXFFLyQ 7
,3DUWH*(1(5$/,'$'(662%5(/$&85,$',2&(6$1$ 9
$1DWXUDOH]DGHOD&XULD'LRFHVDQD 9
$UWtFXOR'H¿QLFLyQGHOD&XULD 9
%)LQDOLGDGHV\SULQFLSLRVGHOD&XULD'LRFHVDQD 10
$UWtFXOR)LQDOLGDGHVGHOD&XULD'LRFHVDQD 10
$UWtFXOR3ULQFLSLRVGHRUJDQL]DFLyQ\DGPLQLVWUDFLyQGHOD
&XULD'LRFHVDQD 11
,,3DUWH'(/$63(5621$6 13
$UWtFXOR([LJHQFLDVIXQGDPHQWDOHVGHODVSHUVRQDVTXH 13
FRODERUDQFRQHO2ELVSRHQOD&XULD'LRFHVDQD
$9LFDULRV*HQHUDOHV 13
$UWtFXOR9LFDULR*HQHUDO 13
$UWtFXOR9LFDULR*HQHUDOSDUDOD3DVWRUDO 14
%9LFDULRVSDUDSHUVRQDVGHHVSHFLDOFRQVDJUDFLyQ 16
$UWtFXOR9LFDULR(SLVFRSDOSDUDHO&OHUR 16
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD9LGD&RQVDJUDGD 17
&9LFDULRVWHUULWRULDOHV 17
$UWtFXOR9LFDULRV)RUiQHRV 17
'9LFDULRV(SLVFRSDOHVSDUDODVGLPHQVLRQHVGHOD 19
HYDQJHOL]DFLyQ\SULRULGDGHVSDVWRUDOHV
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD$FFLyQ0LVLRQHUD 19
.HULJPD\$QLPDFLyQ&RPXQLWDULD
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD&DWHTXHVLV 19
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO6RFLDO&iULWDV 20
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO/LW~UJLFD\&XOWR 21
'LYLQR
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDOGH9LGD\)DPLOLD 21
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO-XYHQLO 22
(5HVSRQVDEOHV'LRFHVDQRVGHODVGLPHQVLRQHVGHOD 15
HYDQJHOL]DFLyQ
$UWtFXOR1DWXUDOH]D\0LVLyQGHORV5HVSRQVDEOHV 22
'LRFHVDQRV
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDOD$QLPDFLyQ 23
-2-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
&RPXQLWDULD
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDODDQLPDFLyQGH 23
*UXSRV0RYLPLHQWRV\$VRFLDFLRQHV/DLFDOHV
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDOD3DVWRUDOGH&XOWXUD 24
\(GXFDFLyQ
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDOD$QLPDFLyQ 25
9RFDFLRQDODOD9LGD6DFHUGRWDO
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDORV6HPLQDULVWDV 26
)2WURVVHUYLFLRVGHOD&XULD 26
$UWtFXOR0RGHUDGRUGHOD&XULD 26
$UWtFXOR9LFDULR-XGLFLDO 27
$UWtFXOR5HSUHVHQWDQWHVOHJDOHV$SRGHUDGRV 28
$UWtFXOR&DQFLOOHU 29
$UWtFXOR(FyQRPR 29
$UWtFXOR5HVSRQVDEOHGHO'HSDUWDPHQWR/HJDO 30
$UWtFXOR5HVSRQVDEOHGHOD&RPXQLFDFLyQ 31
,,,3DUWH25*$1,60266,12'$/(6'(6(59,&,2
3$6725$/ 32
$UWtFXOR&RQVHMR'LRFHVDQRSDUD$VXQWRV(FRQyPLFRV 32
$UWtFXOR&RQVHMR3UHVELWHUDO 32
$UWtFXOR&ROHJLRGH&RQVXOWRUHV 33
$UWtFXOR&RQVHMR'LRFHVDQRSDUDOD3DVWRUDO 34
$2WURVRUJDQLVPRVGHFRUUHVSRQVDELOLGDGSDVWRUDO 35
$UWtFXOR&RPLVLRQHV\(TXLSRV'LRFHVDQRVSDUDOD3DVWRUDO 35
$UWtFXOR9LFDUtDV)RUiQHDV 35
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD$FFLyQPLVLRQHUD 36
.HULJPD\$QLPDFLyQ&RPXQLWDULD
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$QLPDFLyQ&RPXQLWDULD 37
$UWtFXOR(TXLSR'LRFHVDQRSDUDODDQLPDFLyQGH*UXSRV 37
0RYLPLHQWRV\$VRFLDFLRQHV/DLFDOHV
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD&DWHTXHVLV 38
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOGH&XOWXUD\ 39
(GXFDFLyQ
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO6RFLDO&iULWDV40
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO/LW~UJLFD\ 41
&XOWR'LYLQR
-3-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOGH9LGD\ 42
)DPLOLD
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO-XYHQLO 42
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDHO&OHUR 43
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$QLPDFLyQ9RFDFLRQDOD 44
OD9LGD6DFHUGRWDO
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD9LGD&RQVDJUDGD 45
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDODSUHYHQFLyQGHODEXVRD 46
PHQRUHVGHHGDG\DGXOWRVYXOQHUDEOHV
%2UJDQLVPRVGHFRODERUDFLyQSDUDDVXQWRVGHO9LFDULR*HQHUDO 47
SDUDOD3DVWRUDO
$UWtFXOR,QVWLWXWR'LRFHVDQRSDUDOD)RUPDFLyQ3DVWRUDO 47
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD5HÀH[LyQ\(GLFLyQGH 48
0DWHULDOHV
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$VHVRUtD7HROyJLFD\ 48
3DVWRUDO
,93DUWH'(3$57$0(1726<6(59,&,26'(/$&85,$ 49
',2&(6$1$
$UWtFXOR&DQFLOOHUtD 49
$UWtFXOR7ULEXQDO(FOHVLiVWLFR 50
$UWtFXOR2¿FLQDSDUD$VXQWRV6DFUDPHQWDOHV 50
$UWtFXOR2¿FLQDSDUDODVGHQXQFLDVGHDEXVRDPHQRUHVGH 51
HGDG\DGXOWRVYXOQHUDEOHV
$UWtFXOR2¿FLQDSDUDODLQVWUXFFLyQGHODVFDXVDV 52
PDWULPRQLDOHV
$UWtFXOR'HSDUWDPHQWR/HJDO 52
$UWtFXOR'HSDUWDPHQWRGH&RPXQLFDFLyQ 53
$UWtFXOR5DGLR3LODUFLWD 54
$UWtFXOR'HSDUWDPHQWRGH&RQWDELOLGDG 54
$UWtFXOR'HSDUWDPHQWRGH5HFXUVRV+XPDQRV 56
$UWtFXOR'HSDUWDPHQWRGH$UFKLYR+LVWyULFR 56
$UWtFXOR'HSDUWDPHQWRGH3URYHHGXUtD 57
$UWtFXOR&HQWUR'LRFHVDQRSDUDOD3DVWRUDO 57
%,%/,2*5$)Ë$ 59
25*$1,*5$0$'(/$&85,$',2&(6$1$ 60
'($/$-8(/$
-4-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$%5(9,$785$6(03/($'$6
0W 0DWHR
-Q -XDQ
$/ ([KRUWDFLyQ DSRVWyOLFD GH )UDQFLVFR VREUH HO DPRU HQ OD IDPLOLD
³$PRULV/DHWLWLD´GHOGHPDU]RGHO
&K/ ([KRUWDFLyQ DSRVWyOLFD GH -XDQ 3DEOR ,, VREUH ORV ODLFRV
³&KULVWL¿GHOHV/DLFL´GHOGLFLHPEUHGH
&DQ &DQRQGHO&yGLJRGH'HUHFKR&DQyQLFR0DGULGHG
&9 ([KRUWDFLyQDSRVWyOLFDGH)UDQFLVFRDORVMyYHQHV\DWRGRHO3XHEOR
GH'LRV³&KULVWXV9LYLW´GHOGHPDU]RGHO
'$ 9&RQIHUHQFLD*HQHUDOGHO(SLVFRSDGR/DWLQRDPHULFDQR\HO&DULEH
UHDOL]DGDHQ$SDUHFLGDGHODOGHPD\RGHO
'032'LUHFWRULRSDUDHOPLQLVWHULRSDVWRUDOGHORV2ELVSRV³$SRVWRORUXP
6XFFHVVRUHV´GHIHEUHURGHO
($ ([KRUWDFLyQ DSRVWyOLFD SRVWVLQRGDO GH -XDQ 3DEOR ,, (FFOHVLD LQ
$PpULFDGHOGHHQHURGH
(* ([KRUWDFLyQDSRVWyOLFDGH)UDQFLVFRVREUHHODQXQFLRGHO(YDQJHOLR
HQHOPXQGRDFWXDO³(YDQJHOLL*DXGLXP´GHOQRYLHPEUHGHO
,,6'$6HJXQGR 6tQRGR 'LRFHVDQR ³3DGUH TXH WRGRV VHDQ 8QR SDUD HO
PXQGRFUHD´UHDOL]DGRGHODOGHIHEUHURGHO
/6 &DUWD (QFtFOLFD GH )UDQFLVFR VREUH HO FXLGDGR GH OD FDVD FRP~Q
³/DXGDWR6L´GHOGHPD\RGHO
3 ,,,&RQIHUHQFLD*HQHUDOGHO(SLVFRSDGR/DWLQRDPHULFDQRUHDOL]DGD
HQ3XHEODGHOGHHQHURDOGHIHEUHURGH
32 'HFUHWR FRQFLOLDU VREUH ORV SUHVEtWHURV ³3UHVE\WHURUXP 2UGLQLV´
GHOGLFLHPEUHGH
6& &RQVWLWXFLyQ FRQFLOLDU VREUH OD VDJUDGD OLWXUJLD ³6DFURVDQFWXP
&RQFLOLXP´GHOGLFLHPEUHGH
6' ,9 &RQIHUHQFLD *HQHUDO GHO (SLVFRSDGR /DWLQRDPHULFDQR \ HO
&DULEHUHDOL]DGDHQ6DQWR'RPLQJRGHODOGHRFWXEUHGHO
&&66 &DMD&RVWDUULFHQVHGH6HJXUR6RFLDO
)2&262/ )RQGRFRP~QVROLGDULR
,16 ,QVWLWXWR1DFLRQDOGH6HJXURV
5(6(026$ 5pJLPHQGHVHJXULGDG
-5-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
2'$

$ODMXHOD GHMXOLR GHO
0216(f25%$572/20e%8,*8(62//(57&
2%,632',2&(6$12'($/$-8(/$
&216,'(5$1'2
x 4XHODFXULDGLRFHVDQDHVXQDHVWUXFWXUDGHVHUYLFLRGRWDGDGHRUJDQLVPRV\SHUVRQDVTXHD\XGDQ
DO2ELVSRHQHOJRELHUQRGHWRGDODGLyFHVLVHQODGLUHFFLyQGHODDFWLYLGDGSDVWRUDOHQHOFXLGDGR
GHODDGPLQLVWUDFLyQGHODGLyFHVLV\HQHOHMHUFLFLRGHODDFWLYLGDGMXGLFLDOFIFDQ
x 4XHHVQHFHVDULRWHQHUVLHPSUHSUHVHQWHTXHODRUJDQL]DFLyQGHORVGLVWLQWRVRILFLRVGLRFHVDQRV
HVWiDOVHUYLFLRGHODFRPXQLyQGHODYLGDFULVWLDQDGHWRGRVORVILHOHV\GHODWUDQVPLVLyQGHODIH
FRPSURPHWLHQGRDFXDQWRVORVGHVHPSHxDQSHUVRQDVLGyQHDVVHJ~QVXHVWDGR\FRPSHWHQFLD D
HMHUFHUORVFRQHVStULWXGH UHVSRQVDELOLGDG\ VHUYLFLR
x 4XHQXHVWUD&XULD'LRFHVDQDGH$ODMXHODQRFRQWDEDFRQ XQ(VWDWXWRSUHYLDPHQWHDSUREDGRTXH
GHWHUPLQDUDVXVRUJDQLVPRVHOVHU\TXHKDFHUGHODVPLVPDVDVtFRPRORUHODWLYRDODVSHUVRQDV
QRPEUDGDV HQ HOODV FRQ VXV IXQFLRQHV HVSHFtILFDV \ GRQGH VH LQVWLWX\HUDQ ORV HVSDFLRV GH
FRRUGLQDFLyQ \ PXWXD FRRSHUDFLyQ HQ DUDV GH IDYRUHFHU OD SDVWRUDO RUJiQLFD HQ HVStULWX GH
FRPXQLyQ
3257$172
35208/*2
(/ (67$7872 '( /$ &85,$ ',2&(6$1$ '( $/$-8(/$
(QHO TXHVHFRQWLHQHD WHQRUGHO&,&HQORVFiQRQHV \ ODV 2ULHQWDFLRQHVMXUtGLFR
SDVWRUDOHVVREUHODFXULD\RWURVVHUYLFLRVHFOHVLDOHV\HVWDEOH]FR TXHHQWUHHQYLJRUDSDUWLUGHO
GHDJRVWRGHO)LHVWDGHOD7UDQVILJXUDFLyQGHO6HxRUDGH[SHULPHQWXPSRUXQSHULRGRGH
WUHVDxRVFRPSUHQGLGRGHOGHDJRVWRDOGHDJRVWR
$ WHQRU GHO &,& HQ HO FDQ VH DEURJD R GHURJD WRGD OH\ R FRVWXPEUH SUHFHGHQWH D OR DTXt
HVWDEOHFLGRWRGDYH]TXHVHDFRQWUDULDDHVWH(VWDWXWR $VXYH] VHHVWDEOHFHFRPRSULRULGDGOD
UHYLVLyQFUHDFLyQ GHORVHVWDWXWRVTXHVHDQQHFHVDULRVDWHQRUGHOGHUHFKR DVtFRPRUHJODPHQWRV
GHDSOLFDFLyQTXHVH JHQHUHQDSDUWLUGHOSUHVHQWH(VWDWXWRGH&XULD
3XEOtTXHVHHVWH'HFUHWRMXQWR FRQHOWH[WRGHO (VWDWXWRHQODSiJLQDZHERILFLDOGHQXHVWUDGLyFHVLV
\HQYtHVHGLJLWDOPHQWHDWRGRHOFOHURGHODGLyFHVLV
'DGRHQ&XULD'LRFHVDQDGH$ODMXHODDORVVLHWHGtDVGHOPHVGHMXOLR$xRGHO6HxRUHQOD
PHPRULDGHOD%HDWD6RU0DUtD5RPHUR0HQHVHVHQHO $xRGHO &HQWHQDULRGHOD(UHFFLyQ GH
QXHVWUD'LyFHVLVGH$ODMXHOD
0RQV%DUWRORPp%XLJXHV2OOHU
2ELVSR'LRFHVDQRGH$ODMXHOD
3EUR/LF6L[WR(GR9DUHOD6DQWDPDUtD
&DQFLOOHU
FFDUFK
-6-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
(67$7872'(&85,$
',Ï&(6,6'($/$-8(/$
2ULHQWDFLRQHVMXUtGLFRSDVWRUDOHVVREUHOD&XULD
\RWURVVHUYLFLRV(FOHVLDOHV
3UHVHQWDFLyQ
/DYLGD\ODDFWLYLGDGGHHVWD,JOHVLD3DUWLFXODUSRUFLyQGHO3XHEORGH'LRV
QHFHVLWDQVHURUGHQDGDV\UHJXODGDVFRQODVRULHQWDFLRQHV\ODVQRUPDWLYDV
QHFHVDULDVRFRQYHQLHQWHVSDUDWHQHUPD\RUFRQFLHQFLDGHVXULTXH]D
8QRGHORVVHUYLFLRVTXHHO2ELVSRSUHVWDDODGLyFHVLVHVSURYHHUFRQORV
PHGLRVLGyQHRV\ORVPRGRVPiVDGHFXDGRVHOGHVDUUROORGHHVDYLGD\GH
HVDDFWLYLGDGODYDORUDFLyQGHORViPELWRVHLQVWUXPHQWRVQHFHVDULRVSDUD
JDUDQWL]DUODFRPXQLyQODSDUWLFLSDFLyQODRUJDQL]DFLyQ\ODFRRUGLQDFLyQ
GHODDFWLYLGDGGHWRGRVHQODFRUUHVSRQVDELOLGDG\¿GHOLGDGDO(YDQJHOLR\
HQFRPXQLyQFRQOD,JOHVLD8QLYHUVDOFIFDQ
,QWURGXFFLyQ
/D,JOHVLDGLRFHVDQDHQODTXHVHKDFHYLVLEOHOD,JOHVLD8QDSRVHHFRPR
PLVLyQ IXQGDPHQWDO OD WDUHD HYDQJHOL]DGRUD SRU PHGLR GH OD FXDO EXVFD
KDFHUSUHVHQWHHO5HLQRGH'LRVHQPHGLRGHVXVKHUPDQRV&RPRSRUFLyQ
GHOD,JOHVLDOODPDGDDVHUVLJQRHLQVWUXPHQWRGHFRPXQLyQWLHQHFRPR
VXFDEH]DYLVLEOHDO2ELVSRDTXLHQOHFRPSHWHHOHQFDUJRDSRVWyOLFRGH
FRQ¿UPDU D VXV KHUPDQRV HQ OD IH \ GH DQLPDU H LPSXOVDU FRQ HOORV HQ
FRPXQLyQ\SDUWLFLSDFLyQVXYLGD\PLVLyQFI/*(1,,6'$

(O 'LUHFWRULR SDUD HO 0LQLVWHULR 3DVWRUDO GH ORV 2ELVSRV ³$SRVWRORUXP
6XFFHVVRUHV´GLFH³(QHOHMHUFLFLRGHOPLQLVWHULRSDVWRUDOHO2ELVSRVH
VLHQWH\VHFRPSRUWDFRPRµSULQFLSLR\IXQGDPHQWRYLVLEOH¶/*GHOD
XQLGDGGHVXGLyFHVLVSHURVLHPSUHFRQHOiQLPR\ODDFFLyQGLULJLGRVDOD
XQLGDGGHWRGDOD,JOHVLD&DWyOLFD3URPRYHUiODXQLGDGGHIHGHDPRU\GH
GLVFLSOLQDGHPRGRTXHODGLyFHVLVVHVLHQWDSDUWHYLYDGHOHQWHUR3XHEOR
GH'LRV´
-7-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
(O 2ELVSR UHFLEH ³HO PLQLVWHULR GH DSDFHQWDU OD FRPXQLGDG FRQ VXV
FRODERUDGRUHVORVVDFHUGRWHV\GLiFRQRVSUHVLGLHQGRHQQRPEUHGH'LRV
ODJUH\GHODTXHVRQSDVWRUHVFRPRPDHVWURVGHGRFWULQDVDFHUGRWHVGHO
FXOWRVDJUDGR\PLQLVWURVGHJRELHUQR´/*FFI,,6'$S(QHO
HMHUFLFLRGHVXR¿FLRGHEHVHUHQPHGLRGHORVVX\RVXQVHUYLGRUXQSDVWRU
TXHFRQRFHDVXVRYHMDV\HOODVORFRQRFHQFI-QXQSDGUHTXHVH
GLVWLQJXHSRUHOHVStULWXGHDPRU\VROLFLWXGSDUDFRQWRGRV\FX\DDXWRULGDG
FRQIHULGDSRU'LRVHVDVXPLGDHQEXHQJUDGR'HWDOPDQHUDFRQJUHJDDVX
JUH\HQXQDVRODIDPLOLDGRQGHVRQFRQVFLHQWHVGHVXVGHUHFKRV\GHEHUHV
YLYHQ\DFW~DQHQFRPXQLGDGGHFDULGDG
$O 2ELVSR OH FRUUHVSRQGH JREHUQDU D OD ,JOHVLD GLRFHVDQD FRQ SRWHVWDG
OHJLVODWLYDHMHFXWLYD\MXGLFLDOSRUHVRHVHOSULPHUUHVSRQVDEOHGHOEXHQ
IXQFLRQDPLHQWRGHORVRUJDQLVPRV\VHUYLFLRVGHOD&XULD\WDPELpQSRU
GHUHFKRSURSLRHVSUHVLGHQWHGHWRGRVHOORV'HpOGLPDQDODFRPSHWHQFLD
GH ODV SHUVRQDV H LQVWLWXFLRQHV \ DGHPiV OH FRUUHVSRQGH YHODU SDUD TXH
HVWpQFRQVWLWXLGRV\GRWDGRVGHDFXHUGRFRQODVQRUPDVGHOD,JOHVLDFI,,
6'$S
$O2ELVSROHFRUUHVSRQGHQODVVLJXLHQWHVIXQFLRQHV
D1RPEUDUDODVSHUVRQDVTXHKDQGHGHVHPSHxDUR¿FLRVHQOD&XULD
'LRFHVDQD *R]DUiQ GH VX FRQ¿DQ]D \D TXH VRQ VXV PiV SUy[LPRV
FRODERUDGRUHV HQ HO GHVDUUROOR GH ODV WDUHDV SDVWRUDOHV SURSLDV GHO
PLQLVWHULRHSLVFRSDOFIFDQ
E5HJXODUOD¿QDOLGDGGHVXVRUJDQLVPRVFX\DH[LVWHQFLDHVWiSUHVFULWD
HQHO&yGLJRGH'HUHFKR&DQyQLFRFIFDQ
F &UHDU \ UHJXODU VXSUHVLyQ R PRGL¿FDFLyQ ORV RUJDQLVPRV FXDQGR
ORHVWLPHQHFHVDULRRFRQYHQLHQWHSDUDTXHOD&XULD'LRFHVDQDSXHGD
DOFDQ]DU VXV REMHWLYRV GHQWUR GHO PDUFR HVWDEOHFLGR SRU HO GHUHFKR
XQLYHUVDOFIFDQ
8QDGHODVIRUPDVSRUODVFXDOHVHO2ELVSRHMHUFHVXHQFDUJRSDVWRUDOHQOD
GLyFHVLVHVDWUDYpVGHOD&XULD\HQUHODFLyQFRQHOOD
D $FW~D SHUVRQDOPHQWH FXDQGR FUHD ORV RUJDQLVPRV \ ORV VHUYLFLRV
GLRFHVDQRV DGHPiV FXLGD GH TXH HVWRV WUDEDMHQ SDVWRUDOPHQWH GH
PDQHUDFRRUGLQDGD\H¿FD]
-8-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
E &RODERUDQ HQ QRPEUH GHO 2ELVSR FRQ SRWHVWDG YLFDULD HO9LFDULR
*HQHUDO HO 9LFDULR *HQHUDO SDUD OD 3DVWRUDO \ WRGRV ORV YLFDULRV
HSLVFRSDOHVUHVSHFWLYRVTXLHQHVSURFXUDQGHIRUPDGLUHFWD\GHWDOODGD
UHVROYHURUGHQDGD\H[SHGLWDWRGRVORVDVXQWRV
(O(VWDWXWRGHOD&XULD'LRFHVDQDHVWDEOHFHFRQHOSUHVHQWHDUWLFXODGR³XQ
PDUFRFRP~QGHUHIHUHQFLD´SDUDDOJXQRVDVSHFWRVGHODYLGD\ODDFWLYLGDG
GHODGLyFHVLVSRUORWDQWRORVSRVWHULRUHVHVWDWXWRVGHO&RQVHMR3UHVELWHUDO
&ROHJLR GH &RQVXOWRUHV &RQVHMR 'LRFHVDQR SDUD $VXQWRV (FRQyPLFRV
&RQVHMR 'LRFHVDQR SDUD OD 3DVWRUDO \ ORV UHJODPHQWRV R ORV FULWHULRV GH
OD DFFLyQ SDVWRUDO GH ORV GLIHUHQWHV RUJDQLVPRV GLRFHVDQRV GH VHUYLFLR
GHEHQVHUHODERUDGRVRUHYLVDGRVDSDUWLUGHODVGLUHFWULFHVGLRFHVDQDVFI
&RPLVLyQWHROyJLFDLQWHUQDFLRQDO/D6LQRGDOLGDGHQODYLGD\PLVLyQGHOD
,JOHVLDQ~PHURV
&XDQGR VH PHQFLRQD HQ HO (VWDWXWR GH OD &XULD 'LRFHVDQD OD SDODEUD
QDWXUDOH]DVHFRPSUHQGHUiµODUD]yQGHVHU¶GHOR¿FLRTXHVHOHHQFRPLHQGD
DXQDSHUVRQDXRUJDQLVPRHFOHVLDOFRQHO¿QGHVDEHUFXiOHVHOFRUD]yQ
PLVPRVHQWLGRUHDO\SDVWRUDOGHODDFFLyQTXHVHOOHYDUiDFDERHOWpUPLQR
PLVLyQVHHQWHQGHUiFRPRODVSULQFLSDOHVIXQFLRQHVTXHODSHUVRQDGHVLJQDGD
HQXQR¿FLRRHORUJDQLVPRHVWDEOHFLGRGHEHUiQUHDOL]DU\DVtWHQHUFODUR
ORTXHDFDGDXQROHFRUUHVSRQGHSDUDDEULUHVSDFLRVHQHOWUDEDMRSDVWRUDO
GHFRQMXQWR
,3$57(
*(1(5$/,'$'(662%5(/$&85,$',2&(6$1$
$1DWXUDOH]DGHOD&XULD'LRFHVDQD
$UWtFXOR'H¿QLFLyQGHOD&XULD
(O &yGLJR GH 'HUHFKR &DQyQLFR HQ HO FDQRQ LQGLFD ³OD &XULD
'LRFHVDQDFRQVWDGHDTXHOORVRUJDQLVPRV\SHUVRQDVTXHFRODERUDQFRQHO
2ELVSRHQHOJRELHUQRGHWRGDODGLyFHVLVSULQFLSDOPHQWHHQODGLUHFFLyQ
GHODDFWLYLGDGSDVWRUDOHQODDGPLQLVWUDFLyQGHODGLyFHVLVDVtFRPRHQ
HO HMHUFLFLR GH OD SRWHVWDG MXGLFLDO´ '032 FI ,, 6'$ RWUDV
GH¿QLFLRQHVVRQ
-9-
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
D 8Q RUJDQLVPR TXH FRODERUD FRQ HO 2ELVSR HQ VX WDUHD GH JXLDU \
JREHUQDUSDVWRUDOPHQWHDVXGLyFHVLVDGHPiVD\XGDHQODVIXQFLRQHV
DGPLQLVWUDWLYD\MXGLFLDOTXHOHVRQSURSLDVFIFDQFI,,6'$
6HULJHSRUHOSULQFLSLRGHODXQLGDGHQWRUQRDO2ELVSR
E8QHQWHTXHDUWLFXODORVGLIHUHQWHVVHUYLFLRVGHORVTXHUHTXLHUHODYLGD
GLRFHVDQD¿HOHVSDUURTXLDVLQVWLWXFLRQHVDVRFLDFLRQHVFRPXQLGDGHV
GHYLGDFRQVDJUDGDJUXSRV\PRYLPLHQWRVHQWUHRWURV\FRQHOORVH
FRQYLHUWH HQ XQ PHGLR SDUD IRPHQWDU OD FRRUGLQDFLyQ OD XQLGDG \ OD
FRPXQLyQHQHOVHQRGHOD,JOHVLDSDUWLFXODUFI,,6'$
F8QRUJDQLVPRTXHSURPXHYHXQDPHQWDOLGDGUHQRYDGD\UHQRYDGRUD
HQWRGRVDTXHOORVTXHHVWiQDOVHUYLFLRGHODHYDQJHOL]DFLyQGLRFHVDQD
FI'$
G8QRUJDQLVPRTXHVHGHVWDFDSRUODGLVSRQLELOLGDGODDPDELOLGDG\HO
VHUYLFLRFRQXQpQIDVLVQHWDPHQWHSDVWRUDO
La creación, la modificación o la supresión justificadas de estos organismos;

así como, el nombramiento de las personas que forman parte de la Curia se
hará por escrito, mediante decreto (cf. cann. 145; 156; 470).
%)LQDOLGDGHV\SULQFLSLRVGHOD&XULD'LRFHVDQD
$UWtFXOR)LQDOLGDGHVGHOD&XULD'LRFHVDQD
D$\XGDUDO2ELVSRHQHOUHFWRHMHUFLFLRGHVXPLQLVWHULRHSLVFRSDOFRPR
FXPSOLPLHQWRGHODPLVLyQUHFLELGDSDUDHODQXQFLR\HOFUHFLPLHQWRGHO
5HLQRGH'LRV\HOPD\RUELHQHVSLULWXDOGHFXDQWRVLQWHJUDQOD,JOHVLD
GLRFHVDQD
E 6HUYLU HQ OD PLVLyQ HYDQJHOL]DGRUD GH OD ,JOHVLD HQ OR SDVWRUDO
DGPLQLVWUDWLYR\MXGLFLDOFI,,6'$
F $VHJXUDU HO EXHQ IXQFLRQDPLHQWR GH ORV VHUYLFLRV GLRFHVDQRV \ OD
FRQWLQXLGDGGHODDGPLQLVWUDFLyQFI'032G
G3URPRYHUODXQLGDGHQODDFFLyQGHJRELHUQRGHPDQHUDTXHWRGRV
ORVR¿FLRVGHOD&XULDWHQJDQHQFXHQWDORVREMHWLYRVFRPXQHVHQVXV
UHVSHFWLYDVWDUHDV\SURFXUHQVXUHDOL]DFLyQ
H $QLPDU ODV DFFLRQHV GLRFHVDQDV HQ SUR GH XQD PD\RU HIHFWLYLGDG
PHGLDQWH OD FRUUHFWD LQIRUPDFLyQ OD SODQL¿FDFLyQ OD GLVWULEXFLyQ GH
WDUHDV\HOFRQWUROGHVXGHVDUUROORSDUDHYLWDUDFWLYLGDGHVLQQHFHVDULDV
- 10 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
GLVSHUVDV R LQFOXVR FRQWUDGLFWRULDV FI FDQRQ ,, 6'$

I $EULU HVSDFLRV UHJODPHQWDULRV GH FRPXQLFDFLyQ \ SDUWLFLSDFLyQ
SDUDTXHOD&XULDGLRFHVDQDVHDVHQWLGDFRPRODFDVDGHWRGRVGRQGH
VDFHUGRWHVUHOLJLRVRV\VHJODUHVHQFXHQWUHQODPHMRUDFRJLGD\ODD\XGD
IUDWHUQDSDUDDWHQGHUVXVQHFHVLGDGHVHVSLULWXDOHV\SDUDSRGHUSODVPDU
VXVFRPSURPLVRVDSRVWyOLFRV\HYDQJHOL]DGRUHV
$UWtFXOR 3ULQFLSLRV GH RUJDQL]DFLyQ \ DGPLQLVWUDFLyQ GH OD &XULD

'LRFHVDQD
D&RQ¿DQ]DHQHOJRELHUQRGHODGLyFHVLVHO2ELVSRHVWiOODPDGRD
FRQ¿DUHQDTXHOODVSHUVRQDVDTXLHQHVOHVHQFRPLHQGDFLHUWDVIXQFLRQHV
SDUDSRVLELOLWDUTXHHVWDVVHOOHYHQDGHODQWH/RVQRPEUDGRVGHEHQVHU
KRQHVWRVHQHOHMHUFLFLRGHVXIXQFLyQHLQIRUPDUDO2ELVSRDFHUFDGH
WRGRORFRUUHVSRQGLHQWHDVXWDUHD
E 6LQRGDOLGDG H[SUHVLyQ GHO FDPLQDU MXQWRV FRPR 3XHEOR GH 'LRV
\FRQHOORVHQWLUFRPRSURSLRWRGRORTXHVHUHDOL]D(VSURPRYHUHO
GLiORJRODFRQVXOWD\HOGLVFHUQLPLHQWRHQODVGLVWLQWDVGHFLVLRQHVGH
DKt VXUJHQ ORV GLYHUVRV RUJDQLVPRV GH FRQVXOWD TXH HO 2ELVSR WLHQH
SDUD HYLWDU HO KHUPHWLVPR OD DXWRVX¿FLHQFLD \ HO TXHGDUVH VROR HQ OD
WRPD GH GHFLVLRQHV \ HMHFXFLyQ GH DFFLRQHV FI &RPLVLyQ WHROyJLFD
LQWHUQDFLRQDO/D6LQRGDOLGDGHQODYLGD\PLVLyQGHOD,JOHVLDQ~PHURV

F &RPXQLyQ OD ,JOHVLD HV HO QXHYR 3XHEOR GH 'LRV FRQVWLWXLGR SRU
WRGRVORVEDXWL]DGRVXQLGRVHQWUHVtHQGLYHUVRVPLQLVWHULRVSRUREUDGHO
(VStULWX6DQWRSDUDVHUYLU\SURPRYHUODFRPXQLyQHFOHVLDOHQXQLGDG
FRQ HO 2ELVSR VLJQR YLVLEOH GH FRPXQLyQ FI &RPLVLyQ WHROyJLFD
LQWHUQDFLRQDO/D6LQRGDOLGDGHQODYLGD\PLVLyQGHOD,JOHVLDQ~PHURV

G 3DUWLFLSDFLyQ HQ HO JRELHUQR SDVWRUDO GH OD GLyFHVLV HO 2ELVSR
SURPXHYH OD SDUWLFLSDFLyQ GH VDFHUGRWHV \ ODLFRV D WUDYpV GH PHGLRV
HVWUXFWXUDVXRUJDQLVPRVHVWRGHELGRDODUHVSRQVDELOLGDGGHWRGRVDO
EXVFDUHOELHQGHOD,JOHVLDFI&RPLVLyQWHROyJLFDLQWHUQDFLRQDO/D
6LQRGDOLGDGHQODYLGD\PLVLyQGHOD,JOHVLDQ~PHURV
H &RUUHVSRQVDELOLGDG DXWpQWLFD FRODERUDFLyQ GH ORV PLHPEURV GHO
3XHEORGH'LRVHQOD~QLFDPLVLyQGHOD,JOHVLDVHJ~QVXHVWDGRGHYLGD
- 11 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
\GHDFXHUGRFRQORVFDULVPDVUHFLELGRVHQPLUDVDODWDUHDWRWDOGHOD
HYDQJHOL]DFLyQ\JRELHUQRGHODGLyFHVLV
I(TXLGDGDOXGHDOHTXLOLEULRPRGHUDFLyQ\FDULGDGDOLPSOHPHQWDU
R HMHFXWDU GLUHFWULFHV HMHUFHU OD SRWHVWDG OHJLVODWLYD PHGLDQWH VX
RUJDQLVPRFRPSHWHQWHSDUDHYLWDUHOOHJDOLVPRHQWHQGHUODVLWXDFLyQ
GH SHUVRQDV \ KHFKRV \ GHMDUVH OOHYDU SRU OD FDULGDG HYDQJpOLFD TXH
DQLPDDOD,JOHVLD6HGHEHEXVFDUDQWHWRGRHOELHQGHODVDOPDVHO
UHVSHWRDODGLJQLGDGGHODVSHUVRQDV\HOGHVDUUROORGHVXVFDSDFLGDGHV
HQHOPRGRPiVLGyQHR\~WLOSRVLEOHDOVHUYLFLRGHODFRPXQLGDGSDUD
DVLJQDUVLHPSUHODSHUVRQDMXVWDDOSXHVWRMXVWRFI'032FDQQ

J 3ODQL¿FDFLyQ WpFQLFD GHVGH HO PpWRGR YHUDGRUDU MX]JDU
FRQWHPSODU DFWXDUDJUDGHFHU FI '$ HYDOXDU \ FHOHEUDU VH ³QRV
SHUPLWHDUWLFXODUGHPRGRVLVWHPiWLFRODSHUVSHFWLYDFUH\HQWHGHYHUOD
UHDOLGDGODDVXQFLyQGHFULWHULRVTXHSURYLHQHQGHODIH\GHODUD]yQSDUD
VXGLVFHUQLPLHQWR\YDORUDFLyQFRQVHQWLGRFUtWLFR\HQFRQVHFXHQFLD
OD SUR\HFFLyQ GHO DFWXDU FRPR GLVFtSXORV PLVLRQHURV GH -HVXFULVWR´
'$ 3RU HVR ³FRUUHVSRQGH DO 2ELVSR FRQ OD FRRSHUDFLyQ GH ORV
VDFHUGRWHVORVGLiFRQRVORVFRQVDJUDGRV\ORVODLFRVUHDOL]DUXQSODQ
GHDFFLyQSDVWRUDOGHFRQMXQWRRUJiQLFR\SDUWLFLSDWLYRTXHOOHJXHD
WRGRVORVPLHPEURVGHOD,JOHVLD\VXVFLWHVXFRQFLHQFLDPLVLRQHUD¶($
´FI'$,,6'$
K 6XEVLGLDULHGDG DXWpQWLFD \ HIHFWLYD GLVWLQFLyQ GH IXQFLRQHV HQ OD
RUJDQL]DFLyQGLRFHVDQDHQODFXDOFDGDSHUVRQDRUJDQLVPR\VHUYLFLR
KDJD OR TXH OH FRUUHVSRQGH FRQ FULWHULRV GH FRPXQLyQ ELHQ FRP~Q
VHJ~QORGHWHUPLQDGRHQHVWH(VWDWXWR
L &RPXQLFDFLyQ VH QHFHVLWD XQD ÀXLGD IUDWHUQD \ FRQVWDQWH
LQWHUFRPXQLFDFLyQHQWUHHO2ELVSR\VXVFRODERUDGRUHV\GHHVWRVHQWUH
Vt
M5HDOLVPRODDFFLyQSDVWRUDO\HYDQJHOL]DGRUDGHEHSDUWLUVLHPSUHGH
ORVKHFKRVUHDOHV\FRQFUHWRVFRPROHFWXUDGHORVVLJQRVGHORVWLHPSRV
FI/*
N (YDOXDFLyQ OD &XULD QHFHVLWD UHYLVLyQ \ HYDOXDFLyQ SDUD PHMRUDU
FRQWLQXDPHQWHVXDFFLyQ$GHPiVWLHQHTXHDVHJXUDUHODFRPSDxDPLHQWR
DODVSHUVRQDVRUJDQLVPRV\VHUYLFLRV\DODYH]HVWRVGHEHQFRUUHVSRQGHU
GHDFXHUGRFRQVXSURFHGHU
- 12 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
O&UHDWLYLGDGVDQDSHUPLWHHVWDUDELHUWRVDORVFDPELRV\UHVSRQGHU
GHIRUPDSURDFWLYDSRUTXHVLHPSUHKD\QXHYDVIRUPDVSDUDDFWXDUFI
(*
,,3$57(
'(/$63(5621$6
$UWtFXOR ([LJHQFLDV IXQGDPHQWDOHV GH ODV SHUVRQDV TXH FRODERUDQ

FRQHO2ELVSRHQOD&XULD'LRFHVDQD
D/DSOHQDFRPXQLyQFRQOD,JOHVLD\HO2ELVSR
E/DLGRQHLGDGSDUDOOHYDUDFDERORTXHVHOHVHQFDUJD
F)LGHOLGDGGLOLJHQFLD\HVStULWXDSRVWyOLFRHQHOFXPSOLPLHQWRGHVXV
GHEHUHV
7RGRVDTXHOORVTXHVRQDGPLWLGRVDORVR¿FLRVGHOD&XULD'LRFHVDQDGHEHQ
D 5HFLELU HO GHELGR QRPEUDPLHQWR RWRUJDGR SRU OD DXWRULGDG
FRPSHWHQWHVHJ~QODVIRUPDOLGDGHVSURSLDVHVWDEOHFLGDVSRUHO&yGLJR
GH'HUHFKR&DQyQLFRFIFDQQ
E'HVHPSHxDU¿HOPHQWHHOHQFDUJR\PDQWHQHUHOVHFUHWRHQORVOtPLWHV
VHJ~QODPRGDOLGDGGHWHUPLQDGDSRUHO&yGLJRRHO2ELVSRGLRFHVDQR
FIFDQ
F 6HJXLU ¿HOPHQWH ODV SUHVFULSFLRQHV GHO OLEUR9,, ³'H ORV SURFHVRV
GHO&yGLJRGH'HUHFKR&DQyQLFR´FIFDQQHQUHODFLyQ
FRQODVFDXVDV\ODVSHUVRQDVTXHHQOD&XULDVHUH¿HUHQDOHMHUFLFLRGH
ODSRWHVWDGMXGLFLDO
G&XPSOLUFRQODVGLVSRVLFLRQHVGHORVFiQRQHVHQUHODFLyQ
FRQODDGPLQLVWUDFLyQGHODGLyFHVLV
$9LFDULRV*HQHUDOHV
$UWtFXOR9LFDULR*HQHUDO
1DWXUDOH]DHVHOVDFHUGRWHQRPEUDGRSRUHO2ELVSRFRQIRUPHDGHUHFKR
-XUtGLFDPHQWH IRUPD XQD PLVPD SHUVRQD FRQ pO DOWHU HJR \ OHFRPSHWH
UHDOL]DUFXDOTXLHUDFWRDGPLQLVWUDWLYRVDOYRORVTXHHO2ELVSRVHKXELHUH
UHVHUYDGRRTXHSUHFLVHQGHPDQGDWRHVSHFLDO3XHGHVHUUHPRYLGRSRUHO
- 13 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
2ELVSRHQFXDOTXLHUPRPHQWRFIFDQQ&',,6'$

0LVLyQ
D9HODUSDUDTXHWRGDODDFFLyQGHODGLyFHVLV\SRUHQGHGHOD&XULD
VHHQFDPLQHHQHOVHQWLGRH[SUHVDGRHQORVGRFXPHQWRVSURJUDPiWLFRV
FI&'
E$WHQGHUFRPRXQDODERUHPLQHQWHPHQWHSDVWRUDODODVSHUVRQDV\D
ODVFRPXQLGDGHVTXHIRUPDQODGLyFHVLV
F$FRPSDxDUGHIRUPDHVSHFLDODORVSUHVEtWHURVGLRFHVDQRV\DODYLGD
FRQVDJUDGD
G0DQWHQHUXQDFRQWLQXDFRPXQLFDFLyQFRQHO2ELVSR
H&RRUGLQDUODODERUGHORV9LFDULRV)RUiQHRV
I9HODUDWUDYpVGHORV9LFDULRV)RUiQHRVSRUHODGHFXDGRIXQFLRQDPLHQWR
GHORV&RQVHMRV3DUURTXLDOHVSDUDOD3DVWRUDO\SDUD$VXQWRV(FRQyPLFRV
J7HQHUODLQIRUPDFLyQ\ODFDSDFLGDGGHGHFLVLyQVREUHORVDFWRVGH
OD &XULD TXH SXHGHQ WHQHU DOJ~Q HIHFWR MXUtGLFR HO &DQFLOOHU \ RWURV
IXQFLRQDULRVWLHQHQODREOLJDFLyQGHLQIRUPDUOHVREUHWRGDVODVJHVWLRQHV
UHDOL]DGDV
(O9LFDULR*HQHUDOFRRUGLQDDODVVLJXLHQWHVSHUVRQDVXRUJDQLVPRV
9LFDULR(SLVFRSDOSDUDHO&OHUR
9LFDULR(SLVFRSDOSDUDOD9LGD&RQVDJUDGD
9LFDULRV)RUiQHRV
&RQVHMR'LRFHVDQRSDUD$VXQWRV(FRQyPLFRV
&RPLVLyQ'LRFHVDQDSDUDHO&OHUR
(TXLSRSDUDOD$QLPDFLyQYRFDFLRQDODODYLGDVDFHUGRWDO
&RPLVLyQSDUDOD9LGD&RQVDJUDGD
'HSDUWDPHQWRGH&RPXQLFDFLyQ
5DGLR3LODUFLWD
&HQWUR'LRFHVDQRSDUDOD3DVWRUDO
$UWtFXOR9LFDULR*HQHUDOSDUDOD3DVWRUDO
1DWXUDOH]D HV XQ VDFHUGRWH D TXLHQ HO 2ELVSR OH FRQItD HO VHUYLFLR GH
SURPRYHU\DQLPDUHQVXQRPEUHODFRRUGLQDFLyQSODQHDFLyQRUJDQL]DFLyQ
\HYDOXDFLyQGHODDFFLyQSDVWRUDO\HYDQJHOL]DGRUDHQODGLyFHVLV(QYLUWXG
- 14 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
GHOR¿FLROHFRPSHWHHQWRGRHOWHUULWRULRGLRFHVDQRODSRWHVWDGHMHFXWLYD
TXH SHUWHQHFH SRU GHUHFKR DO 2ELVSR 'LRFHVDQR FLUFXQVFULWR DO iPELWR
SDVWRUDOFRQFUHWR
0LVLyQ
D ,PSXOVDUDQLPDU\FRRUGLQDUHQFRPXQLyQFRQHO2ELVSRODDFFLyQ
SDVWRUDO\HYDQJHOL]DGRUDSDUDDVHJXUDUODFRPXQLyQ\ODFRQWLQXLGDG
HQHOSURFHVRGLRFHVDQR
E2ULHQWDUWRGDODDFFLyQGLRFHVDQDVHJ~QHO0DJLVWHULRGHOD,JOHVLD
HQ FODYH HYDQJHOL]DGRUD \ PLVLRQHUD \ DVt IDYRUHFHU OD FRQYHUVLyQ
SDVWRUDO\HFOHVLDO
F9HODUSRUODDGHFXDGDPDUFKDGHO&RQVHMR'LRFHVDQRSDUDOD3DVWRUDO
UHXQLRQHVDFXHUGRVGL¿FXOWDGHVHQWUHRWUDVDFFLRQHV
G 3URPRYHU \ FRRUGLQDU OR UHIHUHQWH D ODV YLVLWDV SDVWRUDOHV WLHPSR
IRUPDSHUVRQDVGXUDFLyQHQWUHRWURVDVSHFWRV
H 3URPRYHU HO DQiOLVLV GH OD UHDOLGDG FRQ HVStULWX FUtWLFR SDUD SRGHU
D\XGDUDODFRPXQLGDGDLQWHUSUHWDUORVVLJQRVGHORVWLHPSRV\DEXVFDU
UHVSXHVWDDORVUHWRVSODQWHDGRVHQHOFRQWH[WRGLRFHVDQR
I&RRUGLQDUODHODERUDFLyQPDUFKDDSOLFDFLyQHYDOXDFLyQ\UHQRYDFLyQ
GHO3ODQ'LRFHVDQRGH3DVWRUDO
J9HODUSDUDTXHKD\DXQDHIHFWLYDSDVWRUDOGHFRQMXQWRHQODGLyFHVLV
K$QLPDUODIRUPDFLyQLQWHJUDOGHDJHQWHVSDUDODSDVWRUDO\FRQHOORV
LPSXOVDU OD XQLGDG GH FULWHULRV IXQGDPHQWDOHV SDUD OD FRPXQLyQ \
SDUWLFLSDFLyQHQFRUUHVSRQVDELOLGDG
L )RUWDOHFHU ORV FDQDOHV GH FRPXQLFDFLyQ HIHFWLYD \ DVHUWLYD TXH
SRWHQFLHQODFRPXQLyQ\ODSDUWLFLSDFLyQ
(O9LFDULR*HQHUDOSDUDOD3DVWRUDOFRRUGLQDODVVLJXLHQWHVSHUVRQDV
XRUJDQLVPRV
9LFDULRV(SLVFRSDOHVSDUDODVGLPHQVLRQHVGHODHYDQJHOL]DFLyQ\ODV
SULRULGDGHVSDVWRUDOHVUHVSRQVDEOHVGLRFHVDQRV\DTXHOORVTXHOHVHDQ
DVLJQDGRVSDUDHOEXHQHMHUFLFLRGHVXODERUSDVWRUDO
&RQVHMR'LRFHVDQRSDUDOD3DVWRUDO
&RPLVLyQ'LRFHVDQDSDUDOD$FFLyQ0LVLRQHUD.HULJPD\$QLPDFLyQ
&RPXQLWDULD
(TXLSR'LRFHVDQRSDUDOD$QLPDFLyQ&RPXQLWDULD
- 15 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
(TXLSR 'LRFHVDQR SDUD OD $QLPDFLyQ GH *UXSRV 0RYLPLHQWRV \

$VRFLDFLRQHV/DLFDOHV
&RPLVLyQ'LRFHVDQDSDUDOD&DWHTXHVLV
&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOGH&XOWXUD$GXFDFLyQ
&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO6RFLDO&iULWDV
&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO/LW~UJLFD\&XOWR'LYLQR
&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOGH9LGD$DPLOLD
&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO-XYHQLO
,QVWLWXWR'LRFHVDQRSDUDOD)RUPDFLyQ3DVWRUDO
(TXLSR'LRFHVDQRSDUDOD5HÀH[LyQ\(GLFLyQGH0DWHULDOHV
(TXLSR'LRFHVDQRSDUDOD$VHVRUtD7HROyJLFD\3DVWRUDO
%9LFDULRVSDUDSHUVRQDVGHHVSHFLDOFRQVDJUDFLyQ
$UWtFXOR9LFDULR(SLVFRSDOSDUDHO&OHUR
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD FRODERUDU HQ
HVWUHFKD FRPXQLFDFLyQ FRQ pO HQ HO FXLGDGR LQWHJUDO GH ORV VDFHUGRWHV
GLiFRQRVVHPLQDULVWDV\MyYHQHVHQSURFHVRGHGLVFHUQLPLHQWRGHFDUDDO
VHPLQDULR
/D SDVWRUDO VDFHUGRWDO OD DQLPDFLyQ YRFDFLRQDO \ OD IRUPDFLyQ HQ HO
VHPLQDULR VH GHEHQ WUDEDMDU HQ IRUPD LQWHJUDO \ FRQVWLWX\H XQ VROR DUFR
IRUPDWLYRSHUPDQHQWH
0LVLyQ
D%XVFDUHOELHQLQWHJUDOGHO2ELVSRGHORVSUHVEtWHURV\GLiFRQRV
E &RRUGLQDU OD HODERUDFLyQ GH ORV SURJUDPDV SDUD OD IRUPDFLyQ
SHUPDQHQWHGHO&OHUR
F&RQGXFLUHOSURFHVRGHDFRPSDxDPLHQWRHLQVHUFLyQDODGLyFHVLVGH
DTXHOORV MyYHQHV TXH WHUPLQDQ VX IRUPDFLyQ HQ HO VHPLQDULR KDVWD HO
PRPHQWRGHOD2UGHQDFLyQ3UHVELWHUDO
G2ULHQWDUFRQHO2ELVSRORVSURFHVRVGHLQFDUGLQDFLyQ\H[FDUGLQDFLyQ
GHORVFOpULJRV
H9HODUMXQWRFRQHO5HVSRQVDEOH'LRFHVDQRSDUDORVVHPLQDULVWDVSRU
HODGHFXDGRDFRPSDxDPLHQWRGHORVPLVPRV
I 9HODU MXQWR FRQ HO 5HVSRQVDEOH 'LRFHVDQR SDUD OD DQLPDFLyQ
YRFDFLRQDO D OD YLGD VDFHUGRWDO SRU HO DGHFXDGR SURFHVR GH SDVWRUDO
- 16 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
YRFDFLRQDOGHFDUDDSRVLEOHVLQJUHVRVDOVHPLQDULR
J3URPRYHUODFXOWXUDYRFDFLRQDOHQJHQHUDO
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD9LGD&RQVDJUDGD
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD YHODU SRU HO
FUHFLPLHQWRHVSLULWXDOODSURPRFLyQYRFDFLRQDOSDUDODYLGDFRQVDJUDGDOD
IRUPDFLyQ\HODSRUWHSDVWRUDOGHORVFRQVDJUDGRVSUHVHQWHVHQODGLyFHVLV
0LVLyQ
D&RRUGLQDUODSDVWRUDOGHOD9LGD&RQVDJUDGDDWUDYpVGHOD&RPLVLyQ
'LRFHVDQDTXHVHRFXSDGHHOODFI,,6'$
E$WHQGHUHQORTXHFRPSHWHDODGLyFHVLVODVQHFHVLGDGHVGHODYLGD
FRQVDJUDGDFI,,6'$
F )RPHQWDU HO PXWXR FRQRFLPLHQWR \ HO DSUHFLR GH ORV QXPHURVRV
FDULVPDVSUHVHQWHVHQODGLyFHVLVDVtFRPRORUHIHUHQWHDO2UGR9LUJLQXP
9tUJHQHV&RQVDJUDGDVFI,,6'$
G)DYRUHFHUODLQVHUFLyQGHORVPLHPEURVGHODYLGDFRQVDJUDGD\VX
DSRUWHDODGLyFHVLVGHVGHORVGLYHUVRVFDULVPDVFI,,6'$

H2ULHQWDU\IDFLOLWDUORVPHGLRVSDUDORUHODWLYRDORVFRQWUDWRVGHOD
GLyFHVLVFRQODVFRPXQLGDGHVUHOLJLRVDVTXHOOHJXHQDHOODDVtFRPR
SURSRQHUOHVHVSDFLRVGHPLVLyQ
I'LVFHUQLU\DFRPSDxDUORVQXHYRVFDULVPDVGHYLGDFRQVDJUDGDTXH
VXUMDQHQODGLyFHVLV
J $FRPSDxDU DO 2ELVSR R D TXLHQHV OR UHSUHVHQWHQ HQ ODV YLVLWDV
HSLVFRSDOHVRUGLQDULDVDODVFRPXQLGDGHVUHOLJLRVDVFIFDQ
K3URPRYHUODDQLPDFLyQYRFDFLRQDODODYLGDFRQVDJUDGD\ODFXOWXUD
YRFDFLRQDOHQJHQHUDO
&9LFDULRVWHUULWRULDOHV
$UWtFXOR9LFDULRV)RUiQHRV
1DWXUDOH]DVRQORVVDFHUGRWHVQRPEUDGRVSRUHO2ELVSRGLRFHVDQRSDUD
DQLPDU XQD FLUFXQVFULSFLyQ WHUULWRULDO OODPDGD9LFDUtD )RUiQHDFI FDQRQ
7LHQHQSRWHVWDGGHUpJLPHQRUGLQDULDYLFDULDTXHSRUHOGHUHFKR
XQLYHUVDOFRPSHWHDO9LFDULR*HQHUDOSHURUHVWULQJLGDDOWHUULWRULRSDVWRUDO
- 17 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
HQFRPHQGDGR VH H[FHSW~DQ DTXHOORV DVXQWRV TXH HO 2ELVSR VH KXELHVH
UHVHUYDGR D Vt PLVPR R DO9LFDULR *HQHUDO R ORV TXH UHTXLHUDQ PDQGDWR
HVSHFLDOGHO2ELVSRFRQIRUPHDO&yGLJRGH'HUHFKR&DQyQLFRFI&DQRQ

0LVLyQFRQIRUPHDORHVWDEOHFLGRHQHOFDQRQODIXQFLyQGHORV
9LFDULRV)RUiQHRVHVPiVGHVHUYLFLRTXH¿VFDOL]DGRUDFI,,6'$

D)DYRUHFHUODFRPXQLyQVDFHUGRWDO\IRPHQWDUHOGLiORJRODVDFFLRQHV
FRQFUHWDV GH DFRPSDxDPLHQWR IUDWHUQLGDG VDFHUGRWDO \ IRUPDFLyQ
SHUPDQHQWH
E2UJDQL]DUORVHQFXHQWURVGHVDFHUGRWHVHQODYLFDUtD
F &XLGDU OD LQVHUFLyQ FRQYHQFLGD \ UHVSRQVDEOH GH ORV VDFHUGRWHV
MyYHQHVHQHOSUHVELWHULR
G9HODUHQHVSHFLDOSRUORVVDFHUGRWHVPD\RUHVHQIHUPRV\DTXHOORV
TXHHVWiQHQGL¿FXOWDGHV
H$QLPDU\FRRUGLQDUODDFWLYLGDGSDVWRUDO\HYDQJHOL]DGRUDFRP~QGH
ODYLFDUtDGHDFXHUGRFRQHO3ODQ'LRFHVDQRSDUDOD3DVWRUDO
I 3RWHQFLDU ORV 1LYHOHV GH ,JOHVLD FRPR OXJDUHV SULYLOHJLDGRV GH
DQLPDFLyQ SDVWRUDO TXH WLHQHQ HO SURSyVLWR GH IDFLOLWDU OD SUHVHQFLD
HYDQJHOL]DGRUD (OORV VRQ &HQWURV GH &RPXQLyQ \ 3DUWLFLSDFLyQ HQ
&RUUHVSRQVDELOLGDG&I,,6'$
J 7UDEDMDU HQ HVWUHFKD FRODERUDFLyQ FRQ ORV SiUURFRV SDUD D\XGDU \
SRWHQFLDUVXR¿FLR\VXVIXQFLRQHVFIFDQRQ
K &XLGDU GH TXH HQ FDGD SDUURTXLD H[LVWDQ \ IXQFLRQHQ GHELGDPHQWH
ORV RUJDQLVPRV FROHJLDOHV SUHVFULWRV R UHFRPHQGDGRV SRU HO &yGLJR
GH'HUHFKR&DQyQLFRWDOHVFRPRHO&RQVHMR3DUURTXLDOSDUD$VXQWRV
(FRQyPLFRVHO&RQVHMR3DUURTXLDOSDUDOD3DVWRUDO&RPLVLRQHVSDUD
ODV)LQDQ]DV\(TXLSRVGH'LDFRQtDSDUDOD3DVWRUDO
L&RQVWLWXLUVLFUHHFRQYHQLHQWHHO&RQVHMR3DVWRUDOSDUDODYLFDUtD
M&RQFUHWDUHQHOWHUULWRULRGHODYLFDUtDDTXHOORTXHHVWpGLVSXHVWRSRU
OD GLyFHVLV HQ FRRUGLQDFLyQ FRQ ORV 9LFDULRV *HQHUDOHV ORV 9LFDULRV
(SLVFRSDOHV\5HVSRQVDEOHV'LRFHVDQRV
N3URFXUDUTXHORVRUJDQLVPRVGLRFHVDQRVGHVHUYLFLR\ODVDFFLRQHV
SDVWRUDOHV \ HYDQJHOL]DGRUDV GLRFHVDQDV HVWpQ SUHVHQWHV GH XQ PRGR
RSHUDWLYRHQVXYLFDUtD
O 9HODU SRU HO GHFRUR HQ ORV OXJDUHV VDJUDGRV \ HQ ODV FHOHEUDFLRQHV
- 18 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
OLW~UJLFDVWDPELpQGHODEXHQDDGPLQLVWUDFLyQGHORVELHQHVHFOHVLiVWLFRV
P&RRUGLQDUDFFLRQHVSDVWRUDOHVHQWUHODVGLIHUHQWHVYLFDUtDV
' 9LFDULRV (SLVFRSDOHV SDUD ODV GLPHQVLRQHV GH OD

HYDQJHOL]DFLyQ\SULRULGDGHVSDVWRUDOHV
$UWtFXOR 9LFDULR (SLVFRSDO SDUD OD$FFLyQ 0LVLRQHUD .HULJPD \

$QLPDFLyQ&RPXQLWDULD
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD LPSXOVDU OD
DQLPDFLyQGHH[SHULHQFLDVNHULJPiWLFDVGHYLGDFRPXQLWDULD\PLVLRQHUDV
0LVLyQ
D$QLPDUODHWDSDPLVLRQHUDGHODDFFLyQHYDQJHOL]DGRUDGHOD,JOHVLD
HVSHFLDOPHQWHFRQORVPiVDOHMDGRV
E$QLPDU\FRRUGLQDUOD&RPLVLyQ'LRFHVDQDSDUDOD$FFLyQPLVLRQHUD
.HULJPD\$QLPDFLyQFRPXQLWDULD
F3URPRYHUXQSURFHVRGHHVWXGLR\YLYHQFLDGHO.HULJPDDODOX]GH
ODUHDOLGDGGLRFHVDQD\ODVRULHQWDFLRQHVPDJLVWHULDOHVFI,,6'$

G $QLPDU HO HVStULWX PLVLRQHUR HQ WRGD OD GLyFHVLV SDUD GHVSHUWDU OD
VHQVLELOLGDG \ HO FRPSURPLVR HIHFWLYR FRQ OD PLVLyQ ³DG JHQWHV´ HQ
XQLGDGFRQODV2EUDV0LVLRQDOHV3RQWL¿FLDVFI,,6'$
H3URPRYHU\DQLPDUH[SHULHQFLDVGHODYLGDFRPXQLWDULD
I3URPRYHU\IDYRUHFHUHOHVStULWXHFXPpQLFR\GHGLiORJRLQWHUUHOLJLRVR
FRPRGLPHQVLyQTXHEURWDGHODPLVLyQ\ODDFFLyQSDVWRUDOGHOD,JOHVLD
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD&DWHTXHVLV
1DWXUDOH]DHVHOVDFHUGRWHQRPEUDGRSRUHO2ELVSRSDUDGHVDUUROODUORV
SURFHVRVFDWHTXpWLFRVGLRFHVDQRVVHJ~QODOyJLFDGHODLQLFLDFLyQFULVWLDQD
\VXDSOLFDFLyQHQODUHDOLGDGDFWXDOSDUDTXHORV¿HOHVGHWRGDVODVHGDGHV
SXHGDQFUHFHU\DFWXDUHQFRPXQLGDGFRPRDXWpQWLFRVGLVFtSXORVPLVLRQHURV
0LVLyQ
D$VHVRUDUDO2ELVSRGLRFHVDQRHQODDFFLyQFDWHTXtVWLFD
E 3URSLFLDU XQD FDWHTXHVLV GLRFHVDQD LQFXOWXUDGD TXH UHVSRQGD DO
PRPHQWRKLVWyULFRFI,,6'$
- 19 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
F ,QWHJUDU \ FRRUGLQDU ORV GLIHUHQWHV SURFHVRV FDWHTXpWLFRV FRPR XQ

FLFORSHUPDQHQWHVLVWHPiWLFR\SURJUHVLYRTXHDEDUFDWRGDODYLGDGHO
FUH\HQWHFI,,6'$\
G*HQHUDUORVFULWHULRVGLRFHVDQRVQHFHVDULRVSDUDODRUJDQL]DFLyQGHOD
FDWHTXHVLVHQFRQVRQDQFLDFRQODVRULHQWDFLRQHVQDFLRQDOHV\HFOHVLDOHV
H$QLPDU\FRRUGLQDUOD&RPLVLyQ'LRFHVDQDSDUDOD&DWHTXHVLV\ODV
SDUURTXLDOHVFI,,6'$\
I 3URPRYHU \ RULHQWDU OD FDSDFLWDFLyQ LQWHJUDO GH ORV FDWHTXLVWDV
IRUPDGRUHV GH FDWHTXLVWDV SDGUHV GH IDPLOLD SUHVEtWHURV \ GHPiV
DJHQWHVGHSDVWRUDOFI,,6'$
J,PSXOVDUODDQLPDFLyQEtEOLFDGHODSDVWRUDO
K&RRUGLQDUVXDFFLyQ\ODGHOD3DVWRUDOGHOD&XOWXUD\OD(GXFDFLyQ
MXQWRFRQHO5HVSRQVDEOH'LRFHVDQRGHODPLVPD
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO6RFLDO&iULWDV
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD FRRUGLQDU OD
H[SUHVLyQGHODFDULGDGGHOD,JOHVLDFRQORVSREUHVORVGHVFDUWDGRVGHOD
VRFLHGDGSHUVRQDVPDUJLQDGDV\YXOQHUDEOHVHLQFHQWLYDUODSURPRFLyQGH
ODGLJQLGDGKXPDQD\HOELHQFRP~Q
0LVLyQ
D$OHQWDUHOHMHUFLFLRGHODFDULGDGFRQORVPiVSREUHV\QHFHVLWDGRVFI
,,6'$'$(*
E3RWHQFLDU\FRRUGLQDUODSURPRFLyQKXPDQDLQWHJUDOWRGRORTXHGH
XQPRGRHVWDEOH\RUJDQL]DGRVHKDFHHQHOiPELWRVRFLDO
F$QLPDU\FRRUGLQDUOD&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO6RFLDO
&iULWDV
G 3URPRYHU \ IDFLOLWDU SURFHVRV GH IRUPDFLyQ GH DJHQWHV GH SDVWRUDO
VREUH OD 'RFWULQD 6RFLDO GH OD ,JOHVLD HQ FRPXQLyQ FRQ HO &RQVHMR
'LRFHVDQRSDUDOD3DVWRUDO
H&RRUGLQDUXQWUDEDMRHQUHGHVFRQGLIHUHQWHVHTXLSRVLQVWLWXFLRQHV
YROXQWDULRV\SHUVRQDVGHEXHQDYROXQWDGHQEHQH¿FLRGHORVPiVSREUHV
\YXOQHUDEOHV
I$GPLQLVWUDU\FDSWDUUHFXUVRVHFRQyPLFRVHQSOHQDDUPRQtDFRQHO
&RQVHMR'LRFHVDQRSDUD$VXQWRV(FRQyPLFRV
J 'LVFHUQLU H LPSXOVDU GH IRUPD RUJDQL]DGD D OD OX] GH OD 'RFWULQD
- 20 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
6RFLDO GH OD ,JOHVLD DFFLRQHV HQ UHVSXHVWD D VLWXDFLRQHV GLRFHVDQDV

VRFLRSDVWRUDOHVHVSHFt¿FDV
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO/LW~UJLFD\&XOWR'LYLQR
1DWXUDOH]DHVHOVDFHUGRWHQRPEUDGRSRUHO2ELVSRSDUDDQLPDU\RULHQWDU
ODDFFLyQOLW~UJLFD\FXOWXDOFHOHEUDWLYDHQODGLyFHVLV
0LVLyQ
D $QLPDU \ RULHQWDU OD DFFLyQ OLW~UJLFD \ FXOWXDO FHOHEUDWLYD HQ OD
GLyFHVLVDWUDYpVGHOD&RPLVLyQTXHSUHVLGHFRQHVWHPLVPRFRPHWLGR
E$QLPDU\FRRUGLQDUOD&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOOLW~UJLFD
\HOFXOWRGLYLQR
F9HODUSRUODIRUPDFLyQOLW~UJLFDSHUPDQHQWHGHORVVDFHUGRWHV\GHPiV
DJHQWHVGHSDVWRUDOFI,,6'$
G,QIRUPDUDWHQGHUFRQVXOWDV\EULQGDUODVD\XGDVTXHVHVROLFLWHQ
H9HODUSRUODFRQVHUYDFLyQGHODUWHVDFUR\HOSDWULPRQLRUHOLJLRVR\
DUTXLWHFWyQLFRGHORVWHPSORV\FDSLOODVFI,,6'$
I3UHSDUDUVXEVLGLRV\FHOHEUDFLRQHVHQODVPDWHULDVGHVXFRPSHWHQFLD
J2ULHQWDU\SURPRYHUORVGLVWLQWRVPLQLVWHULRVOLW~UJLFRVODLFDOHV
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDOGH9LGD\)DPLOLD
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD FRRUGLQDU \
FRODERUDUHQODSURPRFLyQHOGHVDUUROOR\HOFXLGDGRSDVWRUDOGHODIDPLOLD
\ODYLGD
0LVLyQ
D2UJDQL]DUODVDFFLRQHVSDVWRUDOHV\HYDQJHOL]DGRUDVFRUUHVSRQGLHQWHV
DHVWHFDPSR
E $QLPDU \ FRRUGLQDU OD &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO GH
)DPLOLD\9LGD
F 3RWHQFLDU \ IRPHQWDU HO RUJDQLVPR GH VHUYLFLR TXH DQXQFLH HO
(YDQJHOLRGHODYLGD\ODIDPLOLDHQVXVGLIHUHQWHVUHDOLGDGHV
G ,PSXOVDU IRUPDU \ RULHQWDU ORV GLIHUHQWHV VHUYLFLRV JUXSRV \
PRYLPLHQWRVTXHSDUWLFLSDQHQHVWDDFFLyQFRQFUHWD
H$QLPDUODSURPRFLyQGHODYLGDKXPDQDGHVGHVXFRQFHSFLyQKDVWD
VXPXHUWHQDWXUDO
- 21 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
I3URPRYHUODFXOWXUDYRFDFLRQDOGHVGHODSDVWRUDOIDPLOLDU
J&RRUGLQDUFRQHO5HVSRQVDEOH'LRFHVDQRGH$QLPDFLyQ&RPXQLWDULD
DFFLRQHVFRQFUHWDVHQHOQLYHO)DPLOLD(YDQJHOL]DGD\(YDQJHOL]DGRUD
$UWtFXOR9LFDULR(SLVFRSDOSDUDOD3DVWRUDO-XYHQLO
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD FRODERUDU HQ
OD HYDQJHOL]DFLyQ GH DGROHVFHQWHV \ MyYHQHV \ SDUD DFRPSDxDUORV HQ OD
YLYHQFLDDGXOWDGHODIH
0LVLyQ
D)DYRUHFHUHVSDFLRV\SURFHVRVGHHYDQJHOL]DFLyQ\HGXFDFLyQHQOD
IHDGHFXDGRVDODUHDOLGDGGLRFHVDQDSDUDORVDGROHVFHQWHV\MyYHQHV
FI&9
E$QLPDU\FRRUGLQDUOD&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO-XYHQLO
F3RWHQFLDU\IRPHQWDUORVRUJDQLVPRVGHVHUYLFLRTXHDFRPSDxDQODV
GLYHUVDV DFFLRQHV GH SDVWRUDO FRQ ORV DGROHVFHQWHV \ MyYHQHV FI '$
&9
G3URPRYHUHOWUDEDMRSDVWRUDOHQODVGLIHUHQWHVHWDSDVDGROHVFHQWHV
MyYHQHV\DGXOWRVMyYHQHV
H3URSRQHU\DFRPSDxDUHQVHQWLGRDPSOLRHQODVGLVWLQWDVRSFLRQHVGHO
GLVFHUQLPLHQWRYRFDFLRQDO
I,QWHJUDU\DUPRQL]DUODVGLIHUHQWHVH[SHULHQFLDVGHDFRPSDxDPLHQWRD
DGROHVFHQWHV\MyYHQHVUHFRQRFLGDVHQODGLyFHVLV
( 5HVSRQVDEOHV 'LRFHVDQRV GH ODV GLPHQVLRQHV GH OD

HYDQJHOL]DFLyQ
$UWtFXOR1DWXUDOH]D\0LVLyQGHORV5HVSRQVDEOHV'LRFHVDQRV
1DWXUDOH]DVRQSHUVRQDVQRPEUDGDVSRUHO2ELVSRSUHYLDFRPXQLFDFLyQ
FRQHO9LFDULR*HQHUDOSDUDOD3DVWRUDO\HO9LFDULR(SLVFRSDOUHVSHFWLYR
SDUD DQLPDU HQ FRPXQLyQ FRQ HOORV XQD SDUWH GH OD DFFLyQ SDVWRUDO \
HYDQJHOL]DGRUDGLRFHVDQD
0LVLyQ
D(VWXGLDUGLDJQRVWLFDU\SURSRQHUDVX9LFDULR(SLVFRSDOUHVSHFWLYR
\DO2ELVSRORTXHFRQVLGHUHDGHFXDGRHQVXViPELWRVGHSDVWRUDOSDUD
- 22 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
IDYRUHFHUHO3ODQ(YDQJHOL]DGRU'LRFHVDQR
E &RODERUDU FRQ HO 9LFDULR *HQHUDO SDUD OD 3DVWRUDO \ VX 9LFDULR
(SLVFRSDOUHVSHFWLYRSDUDHVWDEOHFHUODVGLUHFWULFHV\ORVSODQHVGHVX
iPELWRSDVWRUDOSURSLR
F 3URPRYHU \ FRRUGLQDU OD DFFLyQ SDVWRUDO \ HYDQJHOL]DGRUD HQ ORV
iPELWRVGHVHUYLFLRDVLJQDGRV
G*HQHUDUHVSDFLRVGHFRODERUDFLyQ\FRRUGLQDFLyQFRQODVSDUURTXLDV
\ODVLQVWLWXFLRQHVGHDFXHUGRFRQODVGLUHFWULFHVGHODGLyFHVLV
H 3ULRUL]DU HO WUDEDMR GH FRPXQLyQ HQWUH ODV SDUURTXLDV ODV YLFDUtDV
IRUiQHDV\ORVRUJDQLVPRVGHVHUYLFLRSDVWRUDOGHODGLyFHVLV
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDOD$QLPDFLyQ&RPXQLWDULD
1DWXUDOH]DHVHOVDFHUGRWHRODLFRQRPEUDGRSRUHO2ELVSRTXHFRODERUDUi
HQODDQLPDFLyQ\RULHQWDFLyQGHODVH[SHULHQFLDVGHYLGDFRPXQLWDULDSDUD
IRUPDUiPELWRVGHFRPXQLyQ\SDUWLFLSDFLyQHQFRUUHVSRQVDELOLGDGFI,,
6'$
0LVLyQ
D 3URPRYHU OD YLGD FRPXQLWDULD GHVGH OD 3DODEUD FRPR IXHQWH
GLQDPL]DGRUD GH OD YLGD FRP~Q OD FXDO HQ XQ DPELHQWH IUDWHUQR
FHOHEUDSURIXQGL]D\VLUYHFRPRHOHPHQWRWHVWLPRQLDO
E$UWLFXODUODV&RPXQLGDGHV(FOHVLDOHVGH%DVH\ODVGLYHUVDVLQLFLDWLYDV
SDUDODYLYHQFLDFRPXQLWDULDGHODIH
F&UHDU\IRPHQWDUHORUJDQLVPRGHVHUYLFLRTXHSURPXHYD\DFRPSDxH
GLYHUVDVDFFLRQHVGHYLGDFRPXQLWDULDFI,,6'$
G3URPRYHUHOSDSHOSURWDJyQLFRGHORVODLFRVHQORVGLYHUVRV1LYHOHVGH
,JOHVLDFRQHVSDFLRVGHFRPXQLyQ\SDUWLFLSDFLyQHQFRUUHVSRQVDELOLGDG
FI,,6'$
H7UDEDMDUGHFLGLGDPHQWHWRGRORUHIHUHQWHDODFXOWXUDYRFDFLRQDO
I&RRUGLQDUVXDFFLyQFRQHO9LFDULRSDUDOD$FFLyQPLVLRQHUD.HULJPD
\$QLPDFLyQFRPXQLWDULD
J &RRUGLQDU FRQ HO 9LFDULR (SLVFRSDO SDUD OD 3DVWRUDO GH )DPLOLD \
9LGDSRVLEOHVDFFLRQHVFRQHOQLYHOGH,JOHVLD)DPLOLD(YDQJHOL]DGD\
(YDQJHOL]DGRUD
$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV
- 23 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
1DWXUDOH]DHVHOVDFHUGRWHRODLFRQRPEUDGRSRUHO2ELVSRSDUDFRODERUDU
HQHOGHELGRGLVFHUQLPLHQWR\DFRPSDxDPLHQWRGHORVJUXSRVPRYLPLHQWRV
\ DVRFLDFLRQHV ODLFDOHV FRQ PLUDV D VX DGHFXDGD LQWHJUDFLyQ HQ OD YLGD
GLRFHVDQD
0LVLyQ
D &UHDU \ IRPHQWDU HO RUJDQLVPR GH VHUYLFLR TXH OH FRODERUH HQ HO
GHELGRGLVFHUQLPLHQWR\DFRPSDxDPLHQWRGHORVJUXSRVPRYLPLHQWRV
\DVRFLDFLRQHVODLFDOHV
E3URSLFLDUHVSDFLRVFRPXQHVTXHIDYRUH]FDQHOFUHFLPLHQWRHQODIH
OD GLQiPLFD FRPXQLWDULD \ PLVLRQHUD SDUD ORJUDU OD LQVHUFLyQ HQ ORV
1LYHOHVGH,JOHVLD
F)DYRUHFHUHOFOLPDGHLQWHUFDPELRSDVWRUDOSRUPHGLRGHORVHVSDFLRV
FRPXQHV GH PXWXD FRODERUDFLyQ SDUD DSRUWDU OR TXH HV SURSLR GHO
FDULVPDGHFDGDRUJDQL]DFLyQGHQWURGHODGLyFHVLV
G 'LVFHUQLU ODV SRVLELOLGDGHV GH XQD DFFLyQ SDVWRUDO HQ OD TXH XQ
FDULVPDSDUWLFXODUSXHGDKDFHUVHSUHVHQWHHQXQiPELWRGLRFHVDQRSDUD
VDWLVIDFHUXQDQHFHVLGDGFRQFUHWDGHO3XHEORGH'LRV
H (VWDEOHFHU OD UHVSHFWLYD FRRUGLQDFLyQ GH OD DFFLyQ SDVWRUDO GH ORV
FDULVPDVFRQODVSDUURTXLDVODVYLFDULDVIRUiQHDV\ORVGHPiVRUJDQLVPRV
GHVHUYLFLRSDVWRUDOSUHVHQWHVHQODGLyFHVLV
I&RRUGLQDUVXDFFLyQFRQHO9LFDULR(SLVFRSDOSDUDOD$FFLyQPLVLRQHUD
.HULJPD\$QLPDFLyQFRPXQLWDULD
K7UDEDMDUHQWRGRDTXHOORTXHOHFRUUHVSRQGDDIDYRUGHODSURPRFLyQ
GHODFXOWXUDYRFDFLRQDO
$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD 3DVWRUDO GH &XOWXUD \

(GXFDFLyQ
1DWXUDOH]DHVHOVDFHUGRWHRODLFRQRPEUDGRSRUHO2ELVSRTXHFRODERUD
HQODUHÀH[LyQ\ODDQLPDFLyQGHODSDVWRUDOGH&XOWXUD\(GXFDFLyQ
0LVLyQ
D2ULHQWDUHLPSXOVDUODDFFLyQSDVWRUDOHQHOFDPSRGHODFXOWXUD\OD
HGXFDFLyQ
E 3RWHQFLDU \ IRPHQWDU HO RUJDQLVPR GH VHUYLFLR TXH DFRPSDxH ODV
GLYHUVDVDFFLRQHVGHSDVWRUDOHQHOFDPSRGHODFXOWXUD\ODHGXFDFLyQ
- 24 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
F,PSXOVDU\DQLPDUODDFFLyQHYDQJHOL]DGRUDHQHOPXQGRGHODFXOWXUD
\GHODHGXFDFLyQIRUPDOQRIRUPDOHLQIRUPDO\FRQHVSHFLDODWHQFLyQ
HQODHGXFDFLyQUHOLJLRVDLQVWLWXFLRQDOODFXDOVHGHEHFRRUGLQDUFRQHO
0LQLVWHULRGH(GXFDFLyQ3~EOLFDFI
G )RPHQWDU SURFHVRV GH GLiORJR HQWUH OD IH FULVWLDQD \ OD FXOWXUD
FRQWHPSRUiQHDFI
H$SR\DUHOGLiORJRGHOD,JOHVLDGLRFHVDQDFRQGLYHUVDVLQVWLWXFLRQHV
FLHQWt¿FDVFXOWXUDOHV\DUWtVWLFDVFI
I 3URPRYHU \ DFRPSDxDU OD SDVWRUDO XQLYHUVLWDULD \ ORV JUXSRV GH
SURIHVLRQDOHVFDWyOLFRVFI
J&RRUGLQDUVXDFFLyQFRQHO9LFDULR(SLVFRSDOSDUDOD&DWHTXHVLV
K3URPRYHUGHFLGLGDPHQWHODFXOWXUDYRFDFLRQDO
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDOD$QLPDFLyQ9RFDFLRQDODOD
9LGD6DFHUGRWDO
1DWXUDOH]D HV HO VDFHUGRWH QRPEUDGR SRU HO 2ELVSR SDUD FRODERUDU HQ OD
SURPRFLyQDFRPSDxDPLHQWR\GLVFHUQLPLHQWRGHORVMyYHQHVFRQLQTXLHWXG
YRFDFLRQDO D OD YLGD VDFHUGRWDO HQ FRRUGLQDFLyQ FRQ HO 5HVSRQVDEOH
'LRFHVDQRSDUDORVVHPLQDULVWDV\HO9LFDULR(SLVFRSDOSDUDHO&OHUR\DTXH
VHEXVFDFRQVWLWXLUXQVRORDUFRIRUPDWLYRSHUPDQHQWH
0LVLyQ
D 3URPRYHU \ SDUWLFLSDU HQ LQLFLDWLYDV GLRFHVDQDV TXH SURPXHYDQ OD
YRFDFLyQDODYLGDVDFHUGRWDO\DODYLGDFRQVDJUDGD
E ,PSOHPHQWDU ORV SURFHVRV GH DFRPSDxDPLHQWR YRFDFLRQDO DQWH
SRVLEOHVLQJUHVRVGHMyYHQHVDOVHPLQDULR
F3RWHQFLDU\IRPHQWDUHORUJDQLVPRGHVHUYLFLRTXHKDGHDFRPSDxDU
\FRRUGLQDUODVGLYHUVDVDFFLRQHVSURSLDVGHODSDVWRUDOYRFDFLRQDODOD
YLGDVDFHUGRWDO
G $OHQWDUODPDUFKDGHORVJUXSRVGHDQLPDFLyQYRFDFLRQDODODYLGD
VDFHUGRWDO
H &RRUGLQDU VX DFFLyQ FRQ HO 5HVSRQVDEOH 'LRFHVDQR SDUD ORV
VHPLQDULVWDV\HQXQLGDGFRQHO9LFDULR(SLVFRSDOSDUDHO&OHUR
I 3URPRYHUODFXOWXUDYRFDFLRQDO
- 25 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR5HVSRQVDEOH'LRFHVDQRSDUDORV6HPLQDULVWDV
1DWXUDOH]DHVHOVDFHUGRWHGHVLJQDGRSDUDDFRPSDxDUDORVVHPLQDULVWDV
HQVXSURFHVRHQDUPRQtDFRQHOSUR\HFWRGHOVHPLQDULR\HQFRPXQLFDFLyQ
FRQHO2ELVSR\VXSUHVELWHULRSDUDODGHELGDLQVHUFLyQHQODYLGDGLRFHVDQD
0LVLyQ
D$QLPDU\DFRPSDxDUDORVVHPLQDULVWDVGHODGLyFHVLVGXUDQWHWRGRVX
SURFHVRSDUDEXVFDUVXELHQLQWHJUDO\ODVX¿FLHQWHPDGXUH]HQODWRPD
GHGHFLVLRQHV\DVtIDYRUHFHUVXGLVFHUQLPLHQWR\IRUPDFLyQYRFDFLRQDO
HQPLUDVDOVHUYLFLRGHVGHHOVDFHUGRFLRPLQLVWHULDO
E )DYRUHFHU XQD HVWUHFKD UHODFLyQ \ XQD EXHQD FRPXQLFDFLyQ GH ORV
VHPLQDULVWDVFRQVX2ELVSR\HOSUHVELWHULRRYLFHYHUVD
F9HODUSRUODDFWLYLGDGSDVWRUDOGHORVVHPLQDULVWDVHQODVSDUURTXLDV
SDUDTXHVHDXQDYHUGDGHUDH[SHULHQFLDIRUPDWLYDTXHQXWUDVXYRFDFLyQ
G *HQHUDU ODV FRQGLFLRQHV SDUD TXH ORV VHPLQDULVWDV DO WHUPLQDU VX
IRUPDFLyQVHLQWHJUHQGHELGDPHQWHDOSUHVELWHULR\DODYLGDSDVWRUDO
GLRFHVDQDFRPRPLQLVWURVRUGHQDGRV
H 0DQWHQHU OD GHELGD FRPXQLFDFLyQ FRQ HO9LFDULR (SLVFRSDO SDUDHO
&OHUR\DVtIDYRUHFHUHOEXHQGHVDUUROORGHVXVIXQFLRQHVHQODGLyFHVLV
FI1RUPDV%iVLFDVSDUDOD)RUPDFLyQ6DFHUGRWDOHQ&RVWD5LFD

I&RRUGLQDUDFFLRQHVFRQHO5HVSRQVDEOH'LRFHVDQRSDUDOD$QLPDFLyQ
9RFDFLRQDODODYLGD6DFHUGRWDO
J3URPRYHUODFXOWXUDYRFDFLRQDO
)2WURVVHUYLFLRVGHOD&XULD
$UWtFXOR0RGHUDGRUGHOD&XULD
1DWXUDOH]DHVXQVDFHUGRWHDTXLHQHO2ELVSROHFRQItDODFRRUGLQDFLyQGH
WRGDVODVDFWLYLGDGHVGHOD&XULDGHDFXHUGRFRQODOHJLVODFLyQFDQyQLFDFI
FDQ,,6'$
0LVLyQ
D&RRUGLQDUORUHIHUHQWHDORVDVXQWRVDGPLQLVWUDWLYRV\MXUtGLFRVFI,,
6'$
E 5HXQLUVH FRQ HO SHUVRQDO \ ORV VDFHUGRWHV TXH WUDEDMDQ HQ OD &XULD
- 26 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
SDUDUHFLELULQIRUPDFLyQVREUHVXVDFWLYLGDGHVGHFLVLRQHV\SUR\HFWRV
F'HWHUPLQDUODDVLJQDFLyQGHUHVSRQVDELOLGDGHVHQWUHR¿FLRVFXDQGR
H[LVWDFRPSHWHQFLDFRPSDUWLGDSDUDXQPLVPRDVXQWR
G,QWHUYHQLUHQWRGRVORVH[SHGLHQWHVDGPLQLVWUDWLYRVWDQWRHQODIDVH
LQLFLDOFRPRHQODWUDPLWDFLyQ\ODUHVROXFLyQ
H 9HUL¿FDU OD OHJDOLGDG X RSRUWXQLGDG GH ORV DFWRV DGPLQLVWUDWLYRV
VLQJXODUHVHPLWLGRVSRUORVR¿FLRVDGPLQLVWUDWLYRV\YDORUDUODVFRQGXFWDV
GHORVWLWXODUHVGHVGHODSHUVSHFWLYDGHODH¿FDFLD\FRODERUDFLyQ
I&XLGDUTXHHOSHUVRQDOFXPSODGHELGDPHQWHVXSURSLRR¿FLR
J9HODUSDUDTXHVHFXHQWHFRQORVPHGLRVQHFHVDULRVSDUDHOWUDEDMRGH
OD&XULD
(O0RGHUDGRUGH&XULDFRRUGLQDODVVLJXLHQWHVSHUVRQDVXRUJDQLVPRV
(FyQRPR
&DQFLOOHU\&DQFLOOHUtD
'HSDUWDPHQWRGH5HFXUVRV+XPDQRV
'HSDUWDPHQWRGH$UFKLYR+LVWyULFR
'HSDUWDPHQWRGH&RQWDELOLGDG
'HSDUWDPHQWRGH3URYHHGXUtD
'HSDUWDPHQWRGH&RPXQLFDFLyQ
'HSDUWDPHQWR/HJDO
$UWtFXOR9LFDULR-XGLFLDO
1DWXUDOH]DHVHOVDFHUGRWHSHULWRQRPEUDGRSRUHO2ELVSRSDUDHMHUFHUOD
SRWHVWDGMXGLFLDOORQRPEUDFRQODSRWHVWDGRUGLQDULDYLFDULDGHMX]JDUHQ
ODGLyFHVLVODVFDXVDVQRH[FHSWXDGDVH[SUHVDPHQWHSRUHOGHUHFKRFIFDQ
1RFHVDHQVXFDUJRDOTXHGDUYDFDQWHODVHGHQLSXHGHVHUUHPRYLGR
SRUHO$GPLQLVWUDGRU'LRFHVDQRSHURQHFHVLWDVHUFRQ¿UPDGRFXDQGRWRPD
SRVHVLyQHOQXHYR2ELVSRFIFDQ,,6'$
0LVLyQ
D)RUPDUXQVRORWULEXQDOFRQHO2ELVSR
E(MHUFHUODDXWRULGDGDGPLQLVWUDWLYDGLVFLSOLQDULD\HFRQyPLFDVREUH
VXPLVPRWULEXQDOGHEHGDUFXHQWDGHODPLVPDDO2ELVSR
- 27 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
F6HUPLHPEURQDWRGHO&RQVHMR3UHVELWHUDO
G(VWDEOHFHUORVQH[RVQHFHVDULRVFRQHO7ULEXQDO(FOHVLiVWLFR3URYLQFLDO
SDUDWUDPLWDUFDXVDVPDWULPRQLDOHV
H (VWDEOHFHU RSRUWXQDPHQWH HQ FRRUGLQDFLyQ FRQ HO 7ULEXQDO
(FOHVLiVWLFR3URYLQFLDOGH&RVWD5LFDXQDR¿FLQDGHLQVWUXFFLyQSDUDODV
FDXVDVPDWULPRQLDOHV\RIUHFHUODUHVSHFWLYDDVHVRUtDHQODSUHVHQWDFLyQ
GHQXHYRVFDVRVGHHVWXGLRFI,,6'$
I5HVSRQVDELOL]DUVHGHODVFDXVDVGHQXOLGDGPDWULPRQLDOTXHOHVHDQ
DVLJQDGDV\WUDPLWDUDTXHOODVTXHSXHGDQ\GHEDQVHUWUDWDGDVHQiPELWR
GLRFHVDQRLQFOXLGRVORVSURFHVRVGHLQVWUXFFLyQHQORVDVXQWRVSHQDOHV
\RWURV
J(VWDEOHFHUFDXFHVGHFRODERUDFLyQFRQHO9LFDULR(SLVFRSDOSDUDOD
3DVWRUDOGHODIDPLOLD\YLGDFRQORV&HQWURVGH2ULHQWDFLyQ)DPLOLDUGH
ODGLyFHVLVHQRUGHQDXQDPD\RU\FRPSOH[LYDRULHQWDFLyQFULVWLDQDGHO
PDWULPRQLR\ODIDPLOLD
K 9HODU SRU HO EXHQ FDPLQDU GH OD R¿FLQD GH GHQXQFLDV SRU DEXVR D
3HUVRQDVXRUJDQLVPRVFRQTXLHQHVHMHUFHVXVHUYLFLR
&RPLVLyQSDUDODSUHYHQFLyQGHODEXVRDPHQRUHVGHHGDG\DGXOWRV
YXOQHUDEOHV
2¿FLQD SDUD ODV GHQXQFLDV GHO DEXVR D PHQRUHV GH HGDG \ DGXOWRV
YXOQHUDEOHV
2¿FLQDSDUDORVDVXQWRVVDFUDPHQWDOHV
2¿FLQDSDUDODLQVWUXFFLyQGHODVFDXVDVPDWULPRQLDOHV
7ULEXQDO(FOHVLiVWLFR
$UWtFXOR5HSUHVHQWDQWHVOHJDOHV$SRGHUDGRV
1DWXUDOH]DORVVDFHUGRWHVQRPEUDGRVSRUHO2ELVSRSDUDHMHUFHUMXQWRFRQ
pOFRPRUHSUHVHQWDQWHVOHJDOHVGH7HPSRUDOLGDGHVGHOD,JOHVLD&DWyOLFD
'LyFHVLVGH$ODMXHOD
0LVLyQ
D5HSUHVHQWDU\JHVWLRQDUORVGLVWLQWRVDVXQWRVOHJDOHVGH7HPSRUDOLGDGHV
GHOD,JOHVLD&DWyOLFD'LyFHVLVGH$ODMXHODDQWHORVRUJDQLVPRVFLYLOHV
- 28 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR&DQFLOOHU
1DWXUDOH]DHVXQDSHUVRQDFOpULJRRODLFRQRPEUDGRSRUHO2ELVSRHQ
FRPXQLyQFRQOD,JOHVLDFRQODGHELGDSUHSDUDFLyQSDUDHOR¿FLR\GHEXHQD
IDPDSDUDHMHUFHUFRPRVHFUHWDULR\QRWDULRGHOD&XULDFI
0LVLyQ
D 'DU IH S~EOLFD GH WRGRV ORV DFWRV \ GRFXPHQWRV HPDQDGRV SRU HO
2ELVSR\OD&XULDTXHJHQHUHQHIHFWRVMXUtGLFRV
E&XLGDUGHTXHVHUHGDFWHQ\H[SLGDQGHELGDPHQWHORVGRFXPHQWRVGH
OD&XULDTXHWHQJDQHIHFWRVMXUtGLFRVHVWRVGHEHQVHUFXVWRGLDGRVHQHO
DUFKLYR
F5HGDFWDUODVDFWDV\GRFXPHQWRVUHIHUHQWHVDGHFUHWRVGLVSRVLFLRQHV
REOLJDFLRQHV\RWURVDVXQWRVSDUDORVTXHVHUHTXLHUDVXLQWHUYHQFLyQFI
FDQ
G 'LULJLU ORV DUFKLYRV R¿FLDOHV GRQGH VH FRQVHUYDQ WRGRV ORV
GRFXPHQWRVTXHVHUHTXLHUHQHQODGLyFHVLV\ODVSDUURTXLDV
H 5HFRJHU¿HOPHQWHSRUHVFULWRWRGRORUHDOL]DGR\¿UPDUORDGHPiV
GHEHLQGLFDUOXJDUGtDPHV\DxRFIFDQ
I /OHYDUDOGtDORVOLEURVSURSLRVGHOD&XULD
$UWtFXOR(FyQRPR
1DWXUDOH]DHVXQDSHUVRQDFOpULJRRODLFRYHUVDGRHQODPDWHULDDTXLHQVH
OHGHOHJDODIXQFLyQDGPLQLVWUDWLYRHFRQyPLFDHVQRPEUDGRSRUHO2ELVSR
GHVSXpVGHHVFXFKDUODRSLQLyQGHO&ROHJLRGHFRQVXOWRUHV\GHO&RQVHMR
'LRFHVDQRSDUD$VXQWRV(FRQyPLFRV(O(FyQRPRGLRFHVDQRKDGHVHUXQD
SHUVRQD YHUGDGHUDPHQWH H[SHUWD HQ PDWHULD HFRQyPLFD \ GH UHFRQRFLGD
KRQUDGH]3URFHGHUiGHDFXHUGRFRQORTXHGHWHUPLQHHO&RQVHMR'LRFHVDQR
SDUD$VXQWRV(FRQyPLFRVFI,,6'$
0LVLyQ
D$GPLQLVWUDUVHJ~QODVGLUHFWULFHVGHO&RQVHMR'LRFHVDQRSDUD$VXQWRV
(FRQyPLFRVORVELHQHVHFOHVLiVWLFRVGHODGLyFHVLVFI,,6'$
E6ROYHQWDUFRQORVUHFXUVRVHFRQyPLFRVGLRFHVDQRVODVQHFHVLGDGHV
GHO2ELVSRORVVDFHUGRWHV\GHRWURVGHQDWXUDOH]DSDVWRUDOGHODGLyFHVLV
F (MHFXWDU HO SUHVXSXHVWR HODERUDGR SRU HO &RQVHMR 'LRFHVDQR SDUD
$VXQWRV(FRQyPLFRV\VHJ~QODVUHJXODFLRQHVGHO&yGLJRGH'HUHFKR
- 29 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
&DQyQLFRUHQGLUFXHQWDVWULPHVWUDOHVGHLQJUHVRVHJUHVRV\FXDQGRHO
2ELVSR\HO&RQVHMRORVROLFLWHQFIFDQ,,6'$
G2ULHQWDUMXQWRDO'HSDUWDPHQWRGH5HFXUVRV+XPDQRVODFRQWUDWDFLyQ
ODFDSDFLWDFLyQ\HOVHJXLPLHQWRGHOSHUVRQDOTXHODERUDHQOD&XULD\HQ
ODVGLVWLQWDVSDUURTXLDV
H/OHYDUDOGtDHOLQYHQWDULRGHORVELHQHVGHOD&XULD\GDUVHJXLPLHQWR
DOGHODVSDUURTXLDV
I2FXSDUVHGHODJHVWLyQGHOSDWULPRQLRGHODGLyFHVLVODUHQWDELOLGDG
GH ORV LQPXHEOHV \ ¿QFDV U~VWLFDV UHYLVDU ORV WtWXORV GH SURSLHGDG
HYDOXDUORVYDORUHVHQORVTXHORVUHFXUVRVHVWiQFRORFDGRVRLQYHUWLGRV
\HOHPSOHRGHOSDWULPRQLRHFOHVLiVWLFREDMRPRGHORVHPSUHVDULDOHVGH
PD\RURPHQRULPSRUWDQFLD
J$FRQVHMDU\VXSHUYLVDUODDGPLQLVWUDFLyQGHODVSDUURTXLDV\GHORV
ELHQHVHFOHVLiVWLFRVSHUWHQHFLHQWHVDRWUDVSHUVRQDVMXUtGLFDV
K&XPSOLUFRUUHFWDPHQWHFRQWRGRVORVPHFDQLVPRVUHJODPHQWDGRVSRU
ORVRUJDQLVPRVJXEHUQDPHQWDOHV
L2IUHFHUORVSURFHVRVGHHOHFFLyQIRUPDFLyQFDSDFLWDFLyQ\VHJXLPLHQWR
GH ORV &RQVHMRV (FRQyPLFRV 3DUURTXLDOHV \ ODV &RPLVLRQHV SDUD ODV
)LQDQ]DV GH DFXHUGR FRQ HO 2UGHQDPLHQWR (FRQyPLFR 'LRFHVDQR
YLJHQWHFI,,6'$
M2EVHUYDUODVQRUPDVHVWDEOHFLGDVHQHOOLEUR9GHO&yGLJRGH'HUHFKR
&DQyQLFRFDQQ
(O(FyQRPRFRRUGLQDODVVLJXLHQWHVSHUVRQDVXRUJDQLVPRV
'HSDUWDPHQWRGH5HFXUVRV+XPDQRV
'HSDUWDPHQWRGH&RQWDELOLGDG
'HSDUWDPHQWRGH3URYHHGXUtD
&DVD6DFHUGRWDOGHOD0LVHULFRUGLD
&ROHJLR3DWULDUFD6DQ-RVp
&DVD(SLVFRSDO
$UWtFXOR5HVSRQVDEOHGHO'HSDUWDPHQWR/HJDO
1DWXUDOH]DHVXQDSHUVRQDFOpULJRRODLFRYHUVDGRRSHULWRHQODPDWHULD
QRPEUDGR SRU HO 2ELVSR SDUD FRRUGLQDU OD UHVSXHVWD D ORV GLVWLQWRV
UHTXHULPLHQWRVOHJDOHVDWUDYpVGHO'HSDUWDPHQWR/HJDO
- 30 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
0LVLyQ
D 3URWHJHU OD ¿UPD GHO 2ELVSR \ GH DTXHO D TXLHQ pO GHVLJQH FRPR
$SRGHUDGR *HQHUDOtVLPR GH 7HPSRUDOLGDGHV GH OD ,JOHVLD &DWyOLFD
'LyFHVLVGH$ODMXHODHQFDGDXQDGHORVDFWRV\RDFFLRQHVOHJDOHVSRU
ODVFRQVHFXHQFLDVTXHVHGHULYDQGHORVPLVPRV
E &RRUGLQDU OD UHYLVLyQ \ HO RWRUJDPLHQWR GHO YLVWR EXHQR D ORV
GRFXPHQWRVTXHGHEH¿UPDUHOUHSUHVHQWDQWHOHJDOGH7HPSRUDOLGDGHV
GHOD,JOHVLD&DWyOLFD'LyFHVLVGH$ODMXHOD
F 9HUL¿FDU OD UHDOL]DFLyQ GH R¿FLR GH ODV HVFULWXUDV FRQWUDWRV \ OD
FRQGXFFLyQGHORVSURFHVRVMXGLFLDOHVFRUUHVSRQGLHQWHVDODGLyFHVLV
G %XVFDU \ FRRUGLQDU HO DVHVRUDPLHQWR OHJDO HVSHFLDOL]DGR HQ ORV
GLIHUHQWHVFDPSRVGHO'HUHFKR&LYLOTXHOHIDFLOLWHQODFRQVXOWRUtD\OD
SUHVHQWDFLyQGHVROXFLRQHVDQWHHO2ELVSR
H&RRUGLQDUODDFFLyQGHORVDERJDGRVGHODVGLIHUHQWHVSDUURTXLDVHQ
WRGRORUHIHUHQWHDHVWHFDPSR
$UWtFXOR5HVSRQVDEOHGHOD&RPXQLFDFLyQ
1DWXUDOH]DHVXQDSHUVRQDFOpULJRRODLFRYHUVDGRHQODPDWHULDQRPEUDGR
SRUHO2ELVSRSDUDJHVWLRQDUODFRPXQLFDFLyQHQODGLyFHVLV\KDFLDRWUDV
LQVWDQFLDVHFOHVLDOHV\FLYLOHV
0LVLyQ
D*HVWLRQDU\FRRUGLQDUHOIXQFLRQDPLHQWRGHORVGLVWLQWRVyUJDQRVGH
FRPXQLFDFLyQGLRFHVDQRVDWUDYpVGHO'HSDUWDPHQWRGHFRPXQLFDFLyQ
VRFLDO
E3URSRQHUDO2ELVSRHOQRPEUHGHODSHUVRQDTXHDVXPLUiODIXQFLyQ
GHYRFHURR¿FLDO\FXLGDUGHTXHGHVHPSHxHFRUUHFWDPHQWHVXFRPHWLGR
F3UHSDUDU\JHVWLRQDUODGLIXVLyQGHODLQIRUPDFLyQUHIHUHQWHDODYLGD
GLRFHVDQD \ GH ODV GHFODUDFLRQHV TXH HO 2ELVSR FRQVLGHUH RSRUWXQR
KDFHU
G$WHQGHUORVUHTXHULPLHQWRVGHORVPHGLRVGHFRPXQLFDFLyQORFDOHV\
QDFLRQDOHVFXDQGRDVtORVROLFLWHQRSRUWXQDPHQWH
H(VWDEOHFHUXQDDJHQGDGHFRQWDFWRVFRQORVPHGLRVGHFRPXQLFDFLyQ
ORFDOHV\PDQWHQHUFRQHOORVXQDUHODFLyQFRUGLDO\GHPXWXDFRODERUDFLyQ
- 31 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
,,,3$57(
25*$1,60266,12'$/(6'(6(59,&,23$6725$/
$UWtFXOR&RQVHMR'LRFHVDQRSDUD$VXQWRV(FRQyPLFRV
1DWXUDOH]DHVXQRUJDQLVPRGHFDUiFWHUFROHJLDO\WLHQHXQWUDEDMRGLUHFWLYR
HQRUGHQDFRODERUDUFRQHO2ELVSRHQODDGPLQLVWUDFLyQGHWRGRVORVELHQHV
HFOHVLiVWLFRV\WHPSRUDOHVGHODGLyFHVLVFI,,6'$
0LVLyQ
D 9HODU \ DGPLQLVWUDU GH XQ PRGR DGHFXDGR \ OHJtWLPR ORV ELHQHV
WHPSRUDOHVQHFHVDULRVSDUDODEXHQDPDUFKDGHORVGLVWLQWRVSURJUDPDV\
DFWLYLGDGHVGHODDFFLyQHYDQJHOL]DGRUDWDOHVFRPRWUDEDMRVSDVWRUDOHV
REUDVGHFDULGDGHLQIUDHVWUXFWXUDVXVWHQWRDOFOHUR\GHPiVVHUYLGRUHV
\HOVRVWHQLPLHQWRGHOFXOWROLW~UJLFRFIFDQ
E3URPRYHUODFRPXQLyQGHELHQHVHQWUHODVSDUURTXLDV\FRPXQLGDGHV
GHVGHODVYLUWXGHVHYDQJpOLFDVGHFDULGDGMXVWLFLD\VROLGDULGDGFRQODV
PiVQHFHVLWDGDV
F (ODERUDU DO LQLFLR GH FDGD DxR HO SUHVXSXHVWR GH OD DFWLYLGDG
HFRQyPLFDGHODGLyFHVLVDVtFRPRDSUREDUHOLQIRUPHDQXDOGHHOODFI
FDQ,,6'$
G (VWDEOHFHU OD FDUJD WULEXWDULD GH ODV SDUURTXLDV \ RWURV LQVWLWXWRV \
FRQVWLWXLUXQDPDVDRIRQGRFRP~QGLRFHVDQRFI,,6'$
H6HJXLUODVQRUPDVGHDGPLQLVWUDFLyQRUGLQDULD\H[WUDRUGLQDULDTXHKD
GHFLGLGROD&RQIHUHQFLD(SLVFRSDOGH&RVWD5LFD
I 9HODU SDUD TXH FDGD SDUURTXLD WHQJD XQ &RQVHMR 3DUURTXLDO SDUD
$VXQWRV(FRQyPLFRV\VXVUHVSHFWLYDV&RPLVLRQHVSDUDODV)LQDQ]DV
DGHPiVSURYHHUORVGHVXVUHVSHFWLYDVFDSDFLWDFLRQHVFI,,6'$
J9HODUSDUDTXHFDGDLQVWLWXFLyQGHGHUHFKRGLRFHVDQRWHQJDXQ&RQVHMR
,QVWLWXFLRQDOSDUD$VXQWRV(FRQyPLFRV
$UWtFXOR&RQVHMR3UHVELWHUDO
1DWXUDOH]DHVWiFRQVWLWXLGRSRUXQJUXSRGHVDFHUGRWHVTXHFRQVWLWX\HHO
VHQDGR GHO 2ELVSR \ VRQ XQD UHSUHVHQWDFLyQ GHO SUHVELWHULR FX\D PLVLyQ
HVD\XGDUDO2ELVSRHQHOJRELHUQRGHODGLyFHVLVFRQIRUPHDO&yGLJRGH
'HUHFKR&DQyQLFRSDUDSURYHHUHOELHQSDVWRUDOGHODSRUFLyQGHOSXHEORGH
'LRVTXHVHOHKDHQFRPHQGDGRFIFDQ32
- 32 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
(O&RQVHMR3UHVELWHUDOWLHQHYRWRFRQVXOWLYRHO2ELVSR'LRFHVDQR
GHEHRtUORHQORVDVXQWRVGHPD\RULPSRUWDQFLDSHURQHFHVLWDGH
VX FRQVHQWLPLHQWR ~QLFDPHQWH HQ ORV FDVRV GHWHUPLQDGRV SRU HO
&yGLJRGH'HUHFKR&DQyQLFRFIFDQ,,6'$
³3DUWLFLSDQ \ HMHUFHQ MXQWDPHQWH FRQ HO 2ELVSR HO VDFHUGRFLR ~QLFR GH
&ULVWR\SRUHQGHTXHGDQFRQVWLWXLGRVSUyYLGRVFRRSHUDGRUHVGHO2UGHQ
HSLVFRSDOGHDKtTXHFRQVWLWX\DQXQVRORSUHVELWHULR\XQDVRODIDPLOLD
FX\RSDGUHHVHO2ELVSR´&'FI,,6'$
0LVLyQ
D5HJLUVHSRUVXVSURSLRVHVWDWXWRVDSUREDGRVSRUHO2ELVSR'LRFHVDQR
FIFDQ
E'HWHUPLQDUHOPRGRGHHOHJLUDORVPLHPEURVGHO&RQVHMR3UHVELWHUDO
FIFDQ
F$\XGDUDO2ELVSRHQHOJRELHUQRGHODGLyFHVLVFRQIRUPHDO&yGLJR
GH'HUHFKR&DQyQLFR
G &RODERUDU FRQ HO 2ELVSR HQ WHPDV TXH VHDQ GH JUDQ LPSRUWDQFLD
GLRFHVDQD
H2IUHFHUODGHELGDD\XGDPHGLDQWHODSUHVHQWDFLyQGHSURSXHVWDVSDUD
VROXFLRQDUORVSUREOHPDVJHQHUDOHVTXHDIHFWHQDORVVDFHUGRWHV
$UWtFXOR&ROHJLRGH&RQVXOWRUHV
1DWXUDOH]D HV HO RUJDQLVPR FRQVXOWLYR GLRFHVDQR PiV LPSRUWDQWH
FRQVWLWXLGR SRU VDFHUGRWHV SHUWHQHFLHQWHV DO &RQVHMR 3UHVELWHUDO GH OD
GLyFHVLV \ HVWi IRUPDGR FRQ XQ PtQLPR GH VHLV \ XQ Pi[LPR GH GRFH
PLHPEURVFIFDQRQ,,6'$
0LVLyQ
D*DUDQWL]DUXQDFXDOL¿FDGDDVLVWHQFLDDO2ELVSRHQODVGHFLVLRQHVGH
JRELHUQRSDVWRUDO
E'DUVXFRQVHQVR\SDUHFHUDO2ELVSRFRQIRUPHDO&yGLJRGH'HUHFKR
&DQyQLFRDOPRPHQWRGHWRPDUGLVSRVLFLRQHVLPSRUWDQWHVGHQDWXUDOH]D
FDQyQLFDFIFDQ
F$VHJXUDUTXHVHGHQORVPHGLRVQHFHVDULRVSDUDODFRQWLQXLGDGGHO
JRELHUQR HSLVFRSDO \ XQD RUGHQDGD VXFHVLyQ HQ FDVR GH YDFDFLyQ R
LPSHGLPHQWRGHODVHGH
- 33 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
G$FRQVHMDUDO2ELVSRHQWHPDVJHQHUDOHVTXHDIHFWHQODYLGDGHORV
VDFHUGRWHVODLFRV\GHODDGPLQLVWUDFLyQGHORVELHQHVHFOHVLiVWLFRV
$UWtFXOR&RQVHMR'LRFHVDQRSDUDOD3DVWRUDO
1DWXUDOH]DHVXQRUJDQLVPRVLQRGDOGHVHUYLFLRGHFDUiFWHUFRQVXOWLYR
SDUDFRODERUDUFRQHO2ELVSRHQODRULHQWDFLyQHLPSOHPHQWDFLyQGHOSURFHVR
HYDQJHOL]DGRU GLRFHVDQR HVWi LQWHJUDGR SRU VDFHUGRWHV FRQVDJUDGRV \
ODLFRV WRGRV LGyQHRV \ UHSUHVHQWDWLYRV GH ODV GLPHQVLRQHV GH OD SDVWRUDO
FIFDQ,,6'$
0LVLyQ
D$FRQVHMDUVLQRGDOPHQWHDO2ELVSRHQWRGRORFRQFHUQLHQWHDODDFFLyQ
SDVWRUDO\HYDQJHOL]DGRUDGHODGLyFHVLV
E(VWDEOHFHUODVHVWUDWHJLDVDGHFXDGDVGHSDUWLFLSDFLyQHQODIRUPDFLyQ
\FDSDFLWDFLyQGHORVDJHQWHVHQODVGHFLVLRQHVSDVWRUDOHV
F3URPRYHUHOHVWXGLR\ODYDORUDFLyQGHODVDFWLYLGDGHVSDVWRUDOHV\
HYDQJHOL]DGRUDV SDUD JHQHUDU DSOLFDFLRQHV SUiFWLFDV \ DFWXDOL]DGDV
VREUHODVPLVPDVHQFRRUGLQDFLyQFRQHO(YDQJHOLROD7UDGLFLyQ\HO
0DJLVWHULRGHOD,JOHVLDFIFDQ
G 2IUHFHU DSOLFDFLRQHV SDVWRUDOHV \ HYDQJHOL]DGRUDV GH DFXHUGR FRQ
ODV GLPHQVLRQHV GH OD HYDQJHOL]DFLyQ SDUD SURPRYHU SURFHVRV GH
FRQYHUVLyQHQXQD,JOHVLDHQPLVLyQSHUPDQHQWH
H 3RWHQFLDU ORV 1LYHOHV GH ,JOHVLD FRPR OXJDUHV SULYLOHJLDGRV GH
DQLPDFLyQ SDVWRUDO TXH WLHQHQ HO SURSyVLWR GH IDFLOLWDU OD SUHVHQFLD
HYDQJHOL]DGRUD (OORV VRQ &HQWURV GH &RPXQLyQ \ 3DUWLFLSDFLyQ HQ
&RUUHVSRQVDELOLGDG&I,,6'$
I)DYRUHFHUHOFULWHULRGHODVDQDFUHDWLYLGDGSDVWRUDOFRPRPHGLRGH
DQiOLVLV\UHSODQWHDPLHQWRFRQVWDQWHGHODVPDQHUDV\GHORVRUJDQLVPRV
QHFHVDULRVGHODDFFLyQHYDQJHOL]DGRUD
J)RUWDOHFHUHOGHVDUUROORGHODDFFLyQSDVWRUDO\HYDQJHOL]DGRUDGHOD
GLyFHVLV OR FXDO VH HYDOXDUi SRU PHGLR GH OD UHDOL]DFLyQ RSRUWXQD GH
DVDPEOHDVGLRFHVDQDV
K $SURYHFKDU HO SURFHVR GH OD YLVLWD FDQyQLFD GHO 2ELVSR FRPR XQD
RSRUWXQLGDG GH UHWURDOLPHQWDFLyQ GHO &RQVHMR 'LRFHVDQR SDUD OD
3DVWRUDORWURVRUJDQLVPRV\ODUHDOLGDGGHODVSDUURTXLDV
L)DYRUHFHUHOWUDEDMRHQH[SHULHQFLDVVLQRGDOHVFRQSDUWLFLSDFLyQGH
¿HOHVODLFRVFRQVDJUDGRV\VDFHUGRWHV
- 34 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$2WURVRUJDQLVPRVGHFRUUHVSRQVDELOLGDGSDVWRUDO
$UWtFXOR&RPLVLRQHV\(TXLSRV'LRFHVDQRVSDUDOD3DVWRUDO
0LVLyQ
D 9HODU HQ FRPXQLyQ FRQ HO 2ELVSR SRU OD LGRQHLGDG HOHFFLyQ
QRPEUDPLHQWR\FDSDFLWDFLyQGHDTXHOORVTXHVHDQHOHFWRVSDUDFXPSOLU
GLIHUHQWHV UHVSRQVDELOLGDGHV HQ ODV FRPLVLRQHV \ HTXLSRV GLRFHVDQRV
SDUDODSDVWRUDO
E$FRPSDxDU\DVHVRUDUHQHOGHVHPSHxRGHOVHUYLFLRVROLFLWDGRDORV
TXHHVWiQDFDUJRGHFRPLVLRQHV\HTXLSRVGLRFHVDQRVSDUDODSDVWRUDO
F 3URPRYHU XQ SURFHVR DGHFXDGR HQ WRGDV ODV DFFLRQHV SDVWRUDOHV \
HYDQJHOL]DGRUDVGHODVFRPLVLRQHV\HTXLSRVGLRFHVDQRVSDUDODSDVWRUDO
G3URPRYHUODXQLGDGHQODGLYHUVLGDG\ODDGHFXDGDLQWHJUDFLyQSDUD
JDUDQWL]DU OD RUJDQLFLGDG \ OD WUDQVYHUVDOLGDG GH ODV SURSXHVWDV GH
ODV FRPLVLRQHV \ HTXLSRV SDUD OD SDVWRUDO HQ ¿GHOLGDG D ORV FULWHULRV
GLRFHVDQRV
H&XLGDUTXHODVFRPLVLRQHV\HTXLSRVRIUH]FDQDODVYLFDUtDVIRUiQHDV
\DODVSDUURTXLDVORVVXEVLGLRVSDVWRUDOHV\HYDQJHOL]DGRUHVQHFHVDULRV
\DGHFXDGRV
I 3UHVHQWDU HO SODQ DQXDO DO &RQVHMR 'LRFHVDQR GH 3DVWRUDO SDUD VX
DSUREDFLyQ
J 3UHVHQWDU HO SUHVXSXHVWR DQXDO DO &RQVHMR 'LRFHVDQR GH $VXQWRV
(FRQyPLFRVSDUDVXDSUREDFLyQ
$UWtFXOR9LFDUtDV)RUiQHDV
1DWXUDOH]D HV OD LQVWDQFLD SDVWRUDO UHIHULGD D XQ GHWHUPLQDGR WHUULWRULR
HQODTXHVHHQPDUFDQORVJUXSRVGHSDUURTXLDVYHFLQDVODFXDOWLHQHFRPR
¿QFUHDUODVFRQGLFLRQHVGHFRPXQLyQFRODERUDFLyQHLPSOHPHQWDFLyQGH
ODVGHFLVLRQHVTXHSURFHGDQGHO2ELVSR\GHORVRUJDQLVPRV\SHUVRQDVTXH
FRODERUDQFRQpOHQHOJRELHUQRGHODGLyFHVLVFI,,6'$
0LVLyQ
D ³/RJUDU TXH ORV SiUURFRV \ GHPiV VDFHUGRWHV FRQ VXV HQFDUJRV
SDVWRUDOHV\FRQD\XGDGHVX9LFDULRIRUiQHRUHVSHFWLYRIRUPHQHQWUH
VtXQDHVSHFLHGHFpOXODGHOSUHVELWHULRGLRFHVDQR´'LUHFWRULRSDUDHO
0LQLVWHULR3DVWRUDOGHORV2ELVSRV
- 35 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
E³&RRUGLQDURSRUWXQDPHQWHHODSRVWRODGRHVSHFt¿FRGHORVUHOLJLRVRV
DV \ GH ORV ODLFRV TXH WUDEDMDQ HQ OD YLFDUtD R HQ XQ GHWHUPLQDGR
VHUYLFLR SDVWRUDO GH WDO PDQHUD TXH OD DFFLyQ SDVWRUDO FRP~Q UHVXOWH
LQFUHPHQWDGD\RUJDQL]DGD´'LUHFWRULRSDUDHO0LQLVWHULR3DVWRUDOGH
ORV2ELVSRV
F )DYRUHFHU OD DFWLYLGDG FRP~Q SDUD XQD PHMRU DWHQFLyQ SDVWRUDO \
HYDQJHOL]DGRUDGHORV¿HOHVGHODYLFDUtDFIFDQ
G)DYRUHFHUODSDVWRUDOGHFRQMXQWR\ODFRRUGLQDFLyQGHORVDVSHFWRV
DGPLQLVWUDWLYRVGHODVSDUURTXLDVHQODYLFDUtDUHVSHFWLYD
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD$FFLyQPLVLRQHUD.HULJPD\
$QLPDFLyQ&RPXQLWDULD
1DWXUDOH]D HV HO RUJDQLVPR GLRFHVDQR TXH HQ DWHQFLyQ DO PDQGDWR
PLVLRQHURFI0WFDSDFLWDDJHQWHV\SURPRFLRQDH[SHULHQFLDVGH
SULPHUDQXQFLR\GHYLGDFRPXQLWDULDTXHSHUPLWDQXQFDPLQRGHIRUPDFLyQ
\GHFUHFLPLHQWRHQODIHFI(*
0LVLyQ
D (VWDEOHFHU HVSDFLRV IRUPDWLYRV SDUD DJHQWHV GH SDVWRUDO VREUH HO
SULPHUDQXQFLR\ODPLVLyQTXHORVFDSDFLWHSDUDSURPRYHUH[SHULHQFLDV
NHULJPiWLFDVGHYLGDFRPXQLWDULD\GHDFHUFDPLHQWRDORVDOHMDGRVFI
,,6'$
E &UHDU LQVWUXPHQWRV GLRFHVDQRV TXH PRWLYHQ OD UHDOL]DFLyQ GH
H[SHULHQFLDVNHULJPiWLFDV
F 3UHSDUDU H LPSOHPHQWDU SURFHVRV HYDQJHOL]DGRUHV SDUD ORV DOHMDGRV
\ GDUOHV FRQWLQXLGDG HQ HO SURFHVR GH OD LQLFLDFLyQ FULVWLDQD HQ
FRRUGLQDFLyQFRQODFDWHTXHVLV
G$QLPDUHOHVStULWXPLVLRQHURHQWRGDODFRPXQLGDGGLRFHVDQD\D\XGDU
DGHVSHUWDUODVHQVLELOLGDG\HOFRPSURPLVRHIHFWLYRFRQODPLVLyQ³DG
JHQWHV´ HQ XQLGDG FRQ REUDV PLVLRQDOHV SRQWL¿FLDV FI ,, 6'$

H &UHDU HVSDFLRV GH GLVFHUQLPLHQWR H LQVHUFLyQ FRPXQLWDULD GH ORV
FDULVPDVPLQLVWHULRV\UHVSRQVDELOLGDGHVSDVWRUDOHVSDUDIDYRUHFHUOD
RUJDQL]DFLyQ\ODSDUWLFLSDFLyQFRQVFLHQWH\DFWLYDGHWRGRVDOVHUYLFLR
GHOD,JOHVLDFI,,6'$
I3URPRYHU\IDYRUHFHUHOHVStULWXHFXPpQLFR\GHGLiORJRLQWHUUHOLJLRVR
FRPRGLPHQVLyQTXHEURWDGHODPLVLyQ\ODDFFLyQSDVWRUDOGHOD,JOHVLD
- 36 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$QLPDFLyQ&RPXQLWDULD
1DWXUDOH]DHVHORUJDQLVPRTXHIRPHQWDODPHQWDOLGDG\ODVH[SHULHQFLDV
GHYLGDFRPXQLWDULDSDUDJHQHUDUXQPD\RUVHQWLGRGHSHUWHQHQFLDDOVHU\
TXHKDFHUGHOD,JOHVLDGLRFHVDQDFI,,6'$
0LVLyQ
D 3URPRYHU \ IDFLOLWDU D QLYHO GLRFHVDQR SURFHVRV IRUPDWLYRV TXH
IDYRUH]FDQODFRPSUHQVLyQWHROyJLFDGHODFRPXQLyQ\VXFRQFUHFLyQHQ
ODYLGDFRPXQLWDULD
E3URPRYHUODDWHQFLyQ\HOGHVDUUROORGHODYRFDFLyQ\GHOSURWDJRQLVPR
ODLFDODIDYRUGHODYLGDFRPXQLWDULD
F3UHFLVDUODQDWXUDOH]DOLQHDPLHQWRV\RUJDQL]DFLyQSDUDODFUHDFLyQ\
HODFRPSDxDPLHQWRGH&RPXQLGDGHV(FOHVLDOHVGH%DVH\R3HTXHxDV
&RPXQLGDGHVHQODVSDUURTXLDVFI,,6'$
G5HÀH[LRQDUDFRUGHDODUHDOLGDG\SURPRYHUDFFLRQHVFRQFUHWDVTXH
SHUPLWDQDFDGDSDUURTXLDFRQVXVGLDFRQtDVUHVSRQGHUDORVGHVDItRV
GHODH[SHULHQFLDFRPXQLWDULDDOVHQWLGRGHSHUWHQHQFLD\DORVSURFHVRV
GHLQWHJUDFLyQ\RUJDQL]DFLyQSDVWRUDOFI,,6'$\
H6XVFLWDUODFUHDWLYLGDGHQODYLYHQFLD\H[SUHVLyQGHODYLGDFRPXQLWDULD
HQODGLyFHVLV
$UWtFXOR (TXLSR 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

1DWXUDOH]D HV HO RUJDQLVPR GLRFHVDQR TXH FRQWULEX\H FRQ HO GHELGR
GLVFHUQLPLHQWR HQ OD IRUPDFLyQ \ HQ HO DFRPSDxDPLHQWR GH ORV JUXSRV
PRYLPLHQWRV\DVRFLDFLRQHVODLFDOHVSDUDSURSLFLDUVXFUHFLPLHQWRHQODIH
\VXLQVHUFLyQPDGXUDHQORV1LYHOHVGH,JOHVLD\DVtORJUDUXQDH[SHULHQFLD
UHDOGHFRPXQLyQ\GHDFFLyQSDVWRUDODOVHUYLFLRGHOD,JOHVLD
0LVLyQ
D )RPHQWDU HQFXHQWURV FRQ ORV GLVWLQWRV JUXSRV \ PRYLPLHQWRV
DSRVWyOLFRV \ FRQ ODV DVRFLDFLRQHV ODLFDOHV SDUD VX GHELGD IRUPDFLyQ
RUJDQL]DFLyQ H LQVHUFLyQ HQ OD SDVWRUDO GH FRQMXQWR GLRFHVDQD FI ,,
6'$(*
E 7HQHU SUHVHQWHV ORV FULWHULRV GH HFOHVLDOLGDG GH ORV JUXSRV \
PRYLPLHQWRV\DVRFLDFLRQHVODLFDOHVSDUDHYDOXDUGLVFHUQLU\DVHJXUDU
- 37 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
TXHVXVDFFLRQHVSDVWRUDOHVVHDQODVQHFHVDULDV\GHELGDVDIDYRUGHXQ
SURFHVRGLRFHVDQRGHHYDQJHOL]DFLyQFI&K/
F3URPRYHUODGLPHQVLyQVRFLDOGHODHYDQJHOL]DFLyQHQORVGLVWLQWRV
JUXSRV\PRYLPLHQWRVDSRVWyOLFRV\DVRFLDFLRQHVODLFDOHV
G&UHDU\DSOLFDUORVSURWRFRORVDQWHVROLFLWXGHVGHUHFRQRFLPLHQWRR
LQJUHVRHQODGLyFHVLVGHQXHYRVJUXSRV\PRYLPLHQWRV
H5HYLVDU\DSOLFDUHOGHELGRSURFHVRFDQyQLFRSDUDHOIXQFLRQDPLHQWR
RODFUHDFLyQGHQXHYDVDVRFLDFLRQHVODLFDOHVS~EOLFDVRSULYDGDV
I )RPHQWDU OD FXOWXUD YRFDFLRQDO HQ ORV JUXSRV PRYLPLHQWRV \
DVRFLDFLRQHVODLFDOHV
J&UHDUUHGHVGHDSR\RSDUDDWHQGHUDSHUVRQDVTXHQHFHVLWHQUHFLELU
FRQVHMHUtDRWHUDSLDSVLFROyJLFD
K,QFXUVLRQDUHQODVQXHYDVWHFQRORJtDVGHLQIRUPDFLyQ\FRPXQLFDFLyQ
SDUDWHQHUDFFHVRDORVSURFHVRVIRUPDWLYRV
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD&DWHTXHVLV
1DWXUDOH]DHVHORUJDQLVPRTXHGHVDUUROODHQWRGRVORV1LYHOHVGH,JOHVLD
SURFHVRVFDWHTXpWLFRVVHJ~QODOyJLFDGHODLQLFLDFLyQFULVWLDQDHQVLQWRQtD
FRQHOFDPLQDUGLRFHVDQR\FRQORVUHWRVQHFHVLGDGHV\GHVDItRVGHQXHVWUR
FRQWH[WRVRFLRFXOWXUDO
0LVLyQ
D3URPRYHUFRRUGLQDU\DFRPSDxDUORVGLIHUHQWHVSURFHVRVFDWHTXpWLFRV
\ SURYHHU ORV PHGLRV QHFHVDULRV TXH IDYRUH]FDQ HO GHVDUUROOR GH ORV
PLVPRV
E'HVDUUROODUSURFHVRVNHULJPiWLFRV\YRFDFLRQDOHVHQPLUDVDSRGHU
FRQWDUFRQVX¿FLHQWHVVHUYLGRUHVSDUDODFDWHTXHVLVFI,,6'$
F(VWDEOHFHU\GHVDUUROODUSURFHVRVGHIRUPDFLyQLQWHJUDOVLVWHPiWLFD
\ SURJUHVLYD SDUD OD DQLPDFLyQ GH ORV FDWHTXLVWDV IRUPDGRUHV GH
FDWHTXLVWDV\SDGUHVGHIDPLOLDFI,,6'$
G &RQVROLGDUDQLYHOGLRFHVDQR\SDUURTXLDOORVGHELGRVRUJDQLVPRV
TXHDQLPHQ\SURPXHYDQHOSURFHVRFDWHTXpWLFRFI,,6'$
H 'H¿QLU DFFLRQHV FRQFUHWDV TXH SHUPLWDQ KDFHU HO HQODFH HQWUH
FDWHTXHVLVGH&RQ¿UPDFLyQ\3DVWRUDO-XYHQLOFI,,6'$
I(VWLPXODU\RULHQWDUODFDWHTXHVLVGHDGXOWRVHQPRPHQWRVVHQVLEOHV
SDUDORV¿HOHVGRQGHSXHGDVHUPHMRUDFHSWDGD
- 38 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
J'H¿QLU\GHVDUUROODUMXQWRFRQHO9LFDULR(SLVFRSDOSDUDOD$FFLyQ
PLVLRQHUD.HULJPD\$QLPDFLyQFRPXQLWDULD\VXUHVSHFWLYDFRPLVLyQ
XQSURFHVRGLRFHVDQRGHLQLFLDFLyQ\SURIXQGL]DFLyQGHODIH
K 3URPRYHU \ HQFDPLQDU OD DQLPDFLyQ EtEOLFD SRUTXH OD 3DODEUD GH
'LRVHVIXQGDPHQWRGHOSURFHVRHYDQJHOL]DGRU\KDGHVHUHVFXFKDGD
PHGLWDGDYLYLGDFHOHEUDGD\WHVWLPRQLDGDFI(*
L*DUDQWL]DUORVHVSDFLRVIRUPDWLYRV\ODLPSOHPHQWDFLyQGHSURWRFRORV
QHFHVDULRV SDUD FUHDU DPELHQWHV VHJXURV HQ FRRUGLQDFLyQ FRQ OD
&RPLVLyQ'LRFHVDQDSDUDODSUHYHQFLyQGHDEXVRVDPHQRUHVGHHGDG\
DGXOWRVYXOQHUDEOHV
M,QFXUVLRQDUHQODVQXHYDVWHFQRORJtDVGHLQIRUPDFLyQ\FRPXQLFDFLyQ
N3URPRYHUODFXOWXUDYRFDFLRQDO
$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO GH &XOWXUD \

(GXFDFLyQ
1DWXUDOH]DHVHORUJDQLVPRGLRFHVDQRTXHFRODERUDHQODSURPRFLyQGH
ODHYDQJHOL]DFLyQHQHOiPELWRHGXFDWLYR\GHODFXOWXUDSDUDIDYRUHFHUOD
LQFXOWXUDFLyQGHODIH
0LVLyQ
D)RPHQWDUHOGLiORJRHQWUHODIHFULVWLDQD\ODFXOWXUDFRQWHPSRUiQHD
SDUD SURPRYHU OD UHODFLyQ GH OD ,JOHVLD 'LRFHVDQD FRQ ODV GLYHUVDV
LQVWLWXFLRQHVFLHQWt¿FDVFXOWXUDOHV\DUWtVWLFDVSUHVHQWHVHQODPLVPD
E'LVHxDU\GHVDUUROODUOD3DVWRUDOGH&XOWXUD\(GXFDFLyQDFRUGHDOD
UHDOLGDGVHJ~QODVRULHQWDFLRQHVGLRFHVDQDV\HQFRRUGLQDFLyQFRQORV
9LFDULRV)RUiQHRV\FXUDVSiUURFRVUHVSHFWLYRV
F3URPRYHUHQFXHQWURVGHHVWXGLRFRQORVGLIHUHQWHVDJHQWHVUHVSRQVDEOHV
GH OD WDUHD HGXFDWLYD SDUD TXH FRQRFLHQGR ODV RULHQWDFLRQHV GHO
PDJLVWHULR HFOHVLDO HQ HVWH FDPSR DVXPDQ DFFLRQHV FRQMXQWDV TXH
PHMRUHQODFDOLGDGGHOVLVWHPDHGXFDWLYRFI,,6'$
G 'HVDUUROODU DFFLRQHV HYDQJHOL]DGRUDV HQ HO PXQGR GH OD HGXFDFLyQ
IRUPDO QR IRUPDO H LQIRUPDO FRQ HVSHFLDO DWHQFLyQ HQ OD HGXFDFLyQ
UHOLJLRVDLQVWLWXFLRQDOHQFRRUGLQDFLyQFRQHO0LQLVWHULRGH(GXFDFLyQ
3~EOLFDD¿QGHRIUHFHUDORVHGXFDGRUHV\HGXFDQGRVXQDFRPSDxDPLHQWR
HQVXYLGDGHIHFI,,6'$
- 39 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
H 3URPRYHU XQD FXOWXUD HGXFDWLYD PHGLDQWH OD LQVHUFLyQ HQ ORV
SUREOHPDVGHOWLHPSRHQTXHVHGHVDUUROODODYLGDGHODVSHUVRQDV\FRQ
HOORQRVRORSUHVHQWDUXQVDEHUSRUDGTXLULUVLQRWDPELpQYDORUHVSRU
DVLPLODU\YHUGDGHVSRUGHVFXEULUFI'$
I *HQHUDU HQ ORV 1LYHOHV GH ,JOHVLD \ GLPHQVLRQHV GH OD SDVWRUDO OD
UHÀH[LyQ\HODQiOLVLVGHODVUHDOLGDGHVFXOWXUDOHVGHQXHVWUDVFRPXQLGDGHV
TXH SHUPLWDQ RIUHFHU ODV DFFLRQHV SDVWRUDOHV TXH FRUUHVSRQGDQ FI ,,
6'$
J3URPRFLRQDU\DFRPSDxDUODSDVWRUDOXQLYHUVLWDULD\ORVJUXSRVGHORV
SURIHVLRQDOHVFDWyOLFRV
K,QFXUVLRQDUHQODVQXHYDVWHFQRORJtDVGHLQIRUPDFLyQ\FRPXQLFDFLyQ
L3URPRYHUODFXOWXUDYRFDFLRQDO
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO6RFLDO&iULWDV
1DWXUDOH]DHVHORUJDQLVPRGLRFHVDQRUHVSRQVDEOHGHODSURPRFLyQGHOD
3DVWRUDO6RFLDOFRPRSURORQJDFLyQGHODDFFLyQGH&ULVWRODFXDOEXVFDOD
OLEHUDFLyQLQWHJUDO\ODSURPRFLyQGHOVHUKXPDQR\GHOUHVWRGHODFUHDFLyQ
FI,,6'$
0LVLyQ
D$OHQWDUHOHMHUFLFLRGHODFDULGDGHQORV1LYHOHVGH,JOHVLDDIDYRUGH
ORVPiVSREUHV\YXOQHUDEOHVFI(*'$
E3RWHQFLDU\FRRUGLQDUWRGRORTXHGHXQPRGRHVWDEOH\RUJDQL]DGRVH
KDFHHQHOiPELWRVRFLDO\GHSURPRFLyQKXPDQDLQWHJUDO
F (VWDEOHFHU ORV GHELGRV SURFHVRV GH IRUPDFLyQ GH DJHQWHV VREUH
OD 'RFWULQD 6RFLDO GH OD ,JOHVLD \ RWURV WHPDV HQ HO FDPSR VRFLDO HQ
FRPXQLyQ FRQ HO &RQVHMR 'LRFHVDQR SDUD OD 3DVWRUDO FRQ HO ¿Q GH
UHDOL]DU DFFLRQHV FRQMXQWDV HQ IDYRU GH ODV SHUVRQDV PiV YXOQHUDEOHV
FI,,6'$
G(VWDEOHFHUFULWHULRVGLRFHVDQRVFRPXQHVSDUDODRUJDQL]DFLyQ\HOEXHQ
IXQFLRQDPLHQWRGHORVGLIHUHQWHVRUJDQLVPRVGLRFHVDQRV\SDUURTXLDOHV
TXHVLUYHQHQHOFDPSRGHOD3DVWRUDO6RFLDO&iULWDV
H3URPRYHUODUHÀH[LyQ\DFFLRQHVGHPD\RUFRPSURPLVRHQHOFDPSR
HFROyJLFR HO FXLGDGR GH OD FDVD FRP~Q \ HO WUDWDU GH XQLU D WRGD OD
IDPLOLD KXPDQD HQ OD E~VTXHGD GH XQ GHVDUUROOR VRVWHQLEOH H LQWHJUDO
FI/6
- 40 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
I0RWLYDUHQODGLyFHVLV\SDUURTXLDVHOWUDEDMRHQUHGHVTXHIDYRUH]FD
ODFRRUGLQDFLyQ\D\XGDPXWXDHQWUH,JOHVLD\RWUDVLQVWLWXFLRQHVGHELHQ
VRFLDOSUHVHQWHVHQODFRPXQLGDGFRRUGLQDQGRFRQ&iULWDV1DFLRQDO
J(VWDEOHFHUSHULyGLFDPHQWHHVSDFLRVLQIRUPDWLYRVVREUHODODERUVRFLDO
GLRFHVDQD
K'LVFHUQLUDODOX]GHOD'RFWULQD6RFLDOGHOD,JOHVLDHLPSXOVDUMXQWR
DO9LFDULR(SLVFRSDOUHVSHFWLYRDFFLRQHVTXHDWLHQGDQODVVLWXDFLRQHV
VRFLRSDVWRUDOHVSUHVHQWHVHQODGLyFHVLVFRQVXVHQIRTXHVSDUWLFXODUHV
$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO /LW~UJLFD \ &XOWR

'LYLQR
1DWXUDOH]DHVHORUJDQLVPRUHVSRQVDEOHGHRULHQWDUODDFFLyQOLW~UJLFD\
FXOWXDOHQHOFDPLQDUGLRFHVDQRGHIRUPDTXHGLFKDDFFLyQVHDSHUFLELGD
\DQLPDGDFRPR³IXHQWH\FXPEUHGHODYLGDHFOHVLDO´6&HQFXHQWUR
FRQ'LRV\ORVKHUPDQRV\XQSURFHVRTXH³QRSXHGHVHUVHSDUDGRRSDUDOHOR
DODYLGD´6'FI,,6'$
0LVLyQ
D (VWDEOHFHU \ SURPXOJDU EDMR OD SRWHVWDG GHO 2ELVSR FULWHULRV
FRPXQHV GLRFHVDQRV VREUH OD SUHSDUDFLyQ FHOHEUDFLyQ \ FRPSURPLVR
GHORVVDFUDPHQWRVGHPRGRTXHVHIDFLOLWHODFRPXQLyQGLRFHVDQDHQ
HVWHFDPSRFI,,6'$
E'H¿QLU\HMHFXWDUSURFHVRVSHUPDQHQWHV\VLVWHPiWLFRVGHIRUPDFLyQ
OLW~UJLFDGHOFOHURSDUDTXHHVWpQDFWXDOL]DGRV\HMHU]DQVXVHUYLFLRGH
IRUPDYiOLGD\OtFLWDFIU,,6'$
F(VWDEOHFHUODRUJDQL]DFLyQ\ODVPHWRGRORJtDVSDUDODIRUPDFLyQGH
DJHQWHV\¿HOHVVREUHHOWHPDGHODOLWXUJLD\VXVGLYHUVRVFRQWHQLGRV\
PLQLVWHULRVFI,,6'$
G )DYRUHFHU VHJ~Q ORV FULWHULRV GLRFHVDQRV OD RUJDQL]DFLyQ \ OD
IRUPDFLyQQHFHVDULDHQHOFDPSRGHODSDVWRUDOOLW~UJLFD\FXOWXDOSDUD
TXHVHFRQVROLGHQORVGLIHUHQWHVPLQLVWHULRV\VHUYLFLRVOLW~UJLFRVFI,,
6'$
H3UHSDUDUVXEVLGLRV\FHOHEUDFLRQHVGHVXFRPSHWHQFLDTXHSURPXHYDQ
ODVDQDFUHDWLYLGDGHLQFXOWXUDFLyQGHODOLWXUJLDHQORV1LYHOHVGH,JOHVLD
\FDPSRVGHODDFFLyQSDVWRUDOFI,,6'$
I*HQHUDUXQSURFHVRGHFDWHTXHVLVVREUHODUHOLJLRVLGDGSRSXODUVHJ~Q
- 41 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
HO0DJLVWHULRGHOD,JOHVLD\ORVDSRUWHVGLVFLSOLQDUHVD¿QHVSDUDTXHVH
RULHQWH\FODUL¿TXHODPLVPDFI,,6'$
J9HODUSRUHOPDQWHQLPLHQWR\UHVFDWHGHLPiJHQHVRUQDPHQWRVYDVRV
VDJUDGRVOLEURV\HGL¿FLRVSRUVXYDORUPDWHULDODUWtVWLFR\FXOWXUDOFI
,,6'$
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDOGH9LGD\)DPLOLD
1DWXUDOH]DHVHORUJDQLVPRGLRFHVDQRTXHSURPXHYHHQORV1LYHOHVGH
,JOHVLDHODQXQFLRGHO(YDQJHOLRGHODYLGD\GHODIDPLOLDSDUDUHVSRQGHUD
ODVH[SHFWDWLYDVPiVSURIXQGDVGHODSHUVRQDKXPDQDGHVGHVXFRQFHSFLyQ
KDVWDVXPXHUWHQDWXUDO\DGHPiVDFRPSDxDUDODVIDPLOLDVHQODVXSHUDFLyQ
GHODVGL¿FXOWDGHVSDUDDOHQWDUVXHVSHUDQ]DHQHOFDPLQRFI$/
0LVLyQ
D 3URPRYHU DFFLRQHV HQ GHIHQVD GHO GHUHFKR D OD YLGD GH WRGR VHU
KXPDQR GHVGH VX FRQFHSFLyQ KDVWD VX GHVHQODFH QDWXUDO FI ,, 6'$

E*HQHUDUHVSDFLRVGHHVWXGLRGHODVGLIHUHQWHVOHJLVODFLRQHVUHODFLRQDGDV
FRQHOYDORU\ODGLJQLGDGGHODYLGDKXPDQDFI,,6'$
F)RUPDUDSUHVEtWHURVGLiFRQRVFRQVDJUDGRVFDWHTXLVWDVVHPLQDULVWDV
\DJHQWHVODLFRVSDUDORVGLIHUHQWHVVHUYLFLRVGHODSDVWRUDOIDPLOLDUFRQ
D\XGDGHSVLFRSHGDJRJRVPpGLFRVGHIDPLOLD\FRPXQLWDULRVDVLVWHQWHV
VRFLDOHVDERJDGRVGHPLQRULGDG\IDPLOLDFI$/
G 3URPRYHU DFFLRQHV SDUD PDQLIHVWDU OD EHOOH]D GH ODV IDPLOLDV \
DFRPSDxDUODVHQVXVGLVWLQWDVUHDOLGDGHV
H(ODERUDUFULWHULRVGLRFHVDQRVFRPXQHVSDUDIDYRUHFHUODLQWHJUDFLyQGH
ODVGLYHUVDVDFFLRQHVGHDJHQWHVGHSDVWRUDOIDPLOLDUJUXSRVIDPLOLDUHV\
DVtHYLWDUSURFHVRVGLVSHUVRVFI,,6'$
I &UHDU \ FRQVROLGDU ORV RUJDQLVPRV GH OD SDVWRUDO IDPLOLDU D QLYHO
GLRFHVDQR\HQFDGDXQDGHODVSDUURTXLDVFI,,6'$
J)RPHQWDUODFXOWXUDYRFDFLRQDO
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD3DVWRUDO-XYHQLO
1DWXUDOH]DHVHORUJDQLVPRGHVHUYLFLRGLRFHVDQRTXHDQLPD\DFRPSDxD
ORVSURFHVRVHYDQJHOL]DGRUHVGHPDGXUDFLyQHQODIHHQHOPXQGRMXYHQLO
HQVXVGLIHUHQWHVHWDSDVDGROHVFHQWHVMyYHQHV\DGXOWRVMyYHQHV
- 42 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
0LVLyQ
D5HQRYDUGHPDQHUDH¿FD]\UHDOLVWDODRSFLyQSUHIHUHQFLDOSRUORV
DGROHVFHQWHV\MyYHQHVFI'$D
E(VWDUDWHQWRVDORVFDPELRVVRFLDOHV\FXOWXUDOHVSDUDRIUHFHUKR\GH
IRUPDDVHUWLYDODVUHVSXHVWDVDODVLQTXLHWXGHVGHORVDGROHVFHQWHV\ORV
MyYHQHVFI&9
F3URSLFLDUHVSDFLRVGHHQFXHQWURFRQ-HVXFULVWRYLYR\VXVHJXLPLHQWR
HQOD,JOHVLDSDUDVXUHDOL]DFLyQSHUVRQDOODIRUPDFLyQGHVXSHUVRQDOLGDG
\GHVXRSFLyQGHIHFI'$F
G3URPRYHUSURFHVRVLQWHJUDOHVGHHGXFDFLyQ\PDGXUDFLyQHQODIH
GHVGHODSURIXQGL]DFLyQGHONHULJPDHOFUHFLPLHQWRHQHODPRUIUDWHUQR
HQODYLGDFRPXQLWDULD\HQHOFRPSURPLVRPLVLRQHURFI&9
'$G
H$FRPSDxDUODVGLIHUHQWHVH[SHULHQFLDVGHHYDQJHOL]DFLyQMXYHQLOSDUD
ODGHELGDLQWHJUDFLyQ\SUHVHQFLDHQXQDFFLRQDUGHSDVWRUDOGHFRQMXQWR
I5HÀH[LRQDU\WHQHUVLHPSUHSUHVHQWHODQDWXUDOH]D\OD¿QDOLGDGGH
ORVRUJDQLVPRVQDFLRQDOHVGLRFHVDQRVYLFDULDOHV\SDUURTXLDOHVGHOD
SDVWRUDOMXYHQLO
J3URSRQHUDORVDGROHVFHQWHV\MyYHQHVODRSFLyQYRFDFLRQDO\RIUHFHUOHV
SURFHVRVGHDFRPSDxDPLHQWRSDUDIDYRUHFHUVXGLVFHUQLPLHQWRFRQOD
FRODERUDFLyQGHORVUHVSRQVDEOHVGLRFHVDQRVGHDQLPDFLyQYRFDFLRQDO
K)RPHQWDUHQWRGRODFXOWXUDYRFDFLRQDO
L,QFXUVLRQDUHQODVQXHYDVWHFQRORJtDVGHLQIRUPDFLyQ\FRPXQLFDFLyQ
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDHO&OHUR
1DWXUDOH]DHVHORUJDQLVPRGLRFHVDQRHQFDUJDGRGHYHODUSRUODIRUPDFLyQ
LQWHJUDOHODFRPSDxDPLHQWRSHUPDQHQWHGHOFOHUR\GHORVTXHKDQWHUPLQDGR
VXIRUPDFLyQHQHOVHPLQDULRSDUDFRQWULEXLUDOFUHFLPLHQWRHTXLOLEULR\
IRUWDOHFLPLHQWRGHODSURSLDLGHQWLGDG\PLVLyQFI,,6'$
0LVLyQ
D $WHQGHU DO SUHVELWHULR SDUD IRPHQWDU VX ELHQHVWDU HO VHQWLGR GH
FRPXQLyQHQWUHORVVDFHUGRWHV\GHSHUWHQHQFLDDODGLyFHVLVFI,,6'$

E ,PSOHPHQWDU XQ SURJUDPD GH IRUPDFLyQ SHUPDQHQWH SDUD HO FOHUR
- 43 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
GRQGHVHHVWDEOH]FDQORVFRQWHQLGRVPHGLRV\SURJUDPDVSDUDGHVDUUROODU
GH IRUPD LQWHJUDO ODV GLPHQVLRQHV KXPDQD HVSLULWXDO LQWHOHFWXDO \
SDVWRUDOHQHOORVFI,,6'$
F9HODUSRUHOELHQHVWDUItVLFR\SVtTXLFRGHORVVDFHUGRWHVFRQODD\XGD
GHSHULWRVHQHVWRVFDPSRV
G*HQHUDUGHIRUPDSURJUHVLYD\VLVWHPiWLFDHOFUHFLPLHQWRGHODYLGD
HVSLULWXDOGHORVSUHVEtWHURVFI,,6'$
H3URSLFLDUHQFXHQWURVUHFUHDWLYRVFXOWXUDOHV\VRFLDOHVTXHUHYLWDOLFHQ
ODVUHODFLRQHVIUDWHUQDVFI,,6'$
I3URSLFLDUMXQWRFRQORV9LFDULRV)RUiQHRVHOFXLGDGRGHORVVDFHUGRWHV
HQFRQGLFLyQGHUHWLURHQIHUPRVDQFLDQRVRFRQQHFHVLGDGHVHVSHFLDOHV
J&UHDU\DSOLFDUORVGHELGRVSURWRFRORVSDUDODFRUUHFWDLQVHUFLyQGH
VDFHUGRWHVTXHGHVHDQLQJUHVDUDOSUHVELWHULRWDPELpQSDUDGHWHUPLQDUOD
LGRQHLGDGHQHOVHUYLFLRFRPRSiUURFRV\RWURVVHUYLFLRVGHFRRUGLQDFLyQ
SDVWRUDOFIFDQRQ
K9HODUSDUDTXHODSDVWRUDOVDFHUGRWDOODDQLPDFLyQYRFDFLRQDO\OD
IRUPDFLyQHQHOVHPLQDULRWUDEDMHQHQIRUPDLQWHJUDO\FRQVWLWX\DQXQ
VRORDUFRIRUPDWLYRSHUPDQHQWH
L&RODERUDUFRQHO5HVSRQVDEOHGLRFHVDQRSDUDODDQLPDFLyQYRFDFLRQDO
D OD YLGD VDFHUGRWDO \ VX HTXLSR HQ OD DFWLYLGDG GH OD SURPRFLyQ
DFRPSDxDPLHQWR \ GLVFHUQLPLHQWR GH SRVLEOHV YRFDFLRQHV D OD YLGD
VDFHUGRWDO
M &RODERUDU FRQ HO 5HVSRQVDEOH GLRFHVDQR GH ORV VHPLQDULVWDV HQ HO
GLVFHUQLPLHQWR GH VLWXDFLRQHV FRQFUHWDV \ HQ HO HVWDEOHFLPLHQWR GH
SURFHVRVGHLQVHUFLyQGHORVPLVPRVHQHOFDPLQDUGHODGLyFHVLV
N3URPRYHUODFXOWXUDYRFDFLRQDO
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$QLPDFLyQ9RFDFLRQDODOD9LGD
6DFHUGRWDO
1DWXUDOH]D HV HO RUJDQLVPR GLRFHVDQR TXH SURPXHYH SURFHVRV GH
RULHQWDFLyQDFRPSDxDPLHQWR\GLVFHUQLPLHQWRHQDTXHOORVMyYHQHVTXHVH
VLHQWHQOODPDGRVDODYLGDVDFHUGRWDO
0LVLyQ
D3URPRYHUODVYRFDFLRQHVDODYLGDVDFHUGRWDOHQODVSDUURTXLDVJUXSRV
GHRUDFLyQ\GHDFRPSDxDPLHQWR
- 44 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
E 2IUHFHU HVSDFLRV GH GLVFHUQLPLHQWR \ RULHQWDFLyQ YRFDFLRQDO HQ HO

iPELWRMXYHQLOHQFRRUGLQDFLyQFRQHO9LFDULR(SLVFRSDO\OD&RPLVLyQ
'LRFHVDQDSDUDOD3DVWRUDO-XYHQLO
F3URFXUDUPHGLRVHLQVWUXPHQWRVSDUDODUHÀH[LyQ\ODSURPRFLyQDOD
YRFDFLyQVDFHUGRWDO
G $VHJXUDU OD LGRQHLGDG GH ORV SURFHVRV GH GLVFHUQLPLHQWR \
DFRPSDxDPLHQWRFRQPLUDVDSRVLEOHVYRFDFLRQHVDODYLGDVDFHUGRWDO
H$FWXDOL]DUSHUPDQHQWHPHQWHORVSURFHVRVHQFXHQWURVLQVWUXPHQWRV
SDUDHODFRPSDxDPLHQWR\GLVFHUQLPLHQWRYRFDFLRQDOVLHPSUHWHQLHQGR
HQ FXHQWD ODV FDPELDQWHV UHDOLGDGHV MXYHQLOHV \ OR GLVSXHVWR HQ ORV
GRFXPHQWRVPDJLVWHULDOHVSDUDHVWHFDPSR
I 7UDEDMDU HQ XQLGDG FRQ HO 9LFDULR (SLVFRSDO SDUD HO FOHUR \ HO
UHVSRQVDEOHGLRFHVDQRSDUDORVVHPLQDULVWDV
J 9HODUSDUDTXHODSDVWRUDOVDFHUGRWDOODDQLPDFLyQYRFDFLRQDO\OD
IRUPDFLyQHQHOVHPLQDULRWUDEDMHQHQIRUPDLQWHJUDO\FRQVWLWX\DQXQ
VRORDUFRIRUPDWLYRSHUPDQHQWH
K3URPRYHUODFXOWXUDYRFDFLRQDO
$UWtFXOR&RPLVLyQ'LRFHVDQDSDUDOD9LGD&RQVDJUDGD
1DWXUDOH]D HV HO RUJDQLVPR UHVSRQVDEOH GH SURPRYHU OD FRPXQLyQ OD
SURPRFLyQ YRFDFLRQDO \ HO DSRVWRODGR GH OD 9LGD &RQVDJUDGD GHVGH VXV
FDULVPDVUHVSHFWLYRVHQHOVHUYLFLRDODYLGDGLRFHVDQD
0LVLyQ
D &RQRFHU ODV H[SHULHQFLDV GH YLGD FRQVDJUDGD SUHVHQWHV HQ OD
GLyFHVLV\DTXHOODVQXHYDVTXHSXGLHUDQVHUSURPRYLGDVSDUDHOGHELGR
UHFRQRFLPLHQWRFI,,6'$
E$WHQGHUHQORTXHFRPSHWHDODGLyFHVLVODVQHFHVLGDGHVGHODYLGD
FRQVDJUDGDFI,,6'$
F )RPHQWDU HVSDFLRV SDUD HO PXWXR FRQRFLPLHQWR \ DSUHFLR HQWUH ODV
GLIHUHQWHVH[SHULHQFLDVGHYLGDFRQVDJUDGDFI,,6'$
G)RPHQWDU\DQLPDUODLQVHUFLyQGHODYLGDFRQVDJUDGDHQOD,JOHVLD
GLRFHVDQD \ FRQ HOOR JDUDQWL]DU OD FRPXQLyQ \ OD SDUWLFLSDFLyQ HQ HO
TXHKDFHUSDVWRUDOFI,,6'$
H'LVFHUQLU\EXVFDUHQODGLyFHVLVHVSDFLRVGHPLVLyQ\GHVHUYLFLR
FRQFUHWR SDUD ODV QXHYDV H[SHULHQFLDV GH YLGD FRQVDJUDGD TXH VH
RIUH]FDQ
- 45 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
I 2ULHQWDU \ IDFLOLWDU OR UHODWLYR D ORV FRQWUDWRV FRQ ODV FRPXQLGDGHV
UHOLJLRVDV
J$FRPSDxDUORVQXHYRVFDULVPDVTXHVXUMDQHQODGLyFHVLVDVtFRPR
ORUHODWLYRDO2UGR9LUJLQXPYtUJHQHVFRQVDJUDGDV
K )RPHQWDU HO PXWXR FRQRFLPLHQWR \ HO DSUHFLR GH ORV QXPHURVRV
FDULVPDVSUHVHQWHVHQODGLyFHVLV
L3URPRYHUODDQLPDFLyQYRFDFLRQDODODYLGDFRQVDJUDGD\ODFXOWXUD
YRFDFLRQDO
$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD SUHYHQFLyQ GHO DEXVR D

1DWXUDOH]DHVHORUJDQLVPRTXHOLGHUDODSUHYHQFLyQGHODEXVRDPHQRUHV
GHHGDG\DGXOWRVYXOQHUDEOHVHQODGLyFHVLVSDUDFUHDUXQDFXOWXUDSURSLDGH
DPELHQWHVVDQRV\VHJXURVTXHJDUDQWLFHHOFXLGDGR\HOGHVDUUROORGHWRGRV
ORVPLHPEURVGHO3XHEORGH'LRVSDUDHOORVHSURPXHYHODSUHYHQFLyQOD
GHWHFFLyQ\ODUHVSXHVWDRSRUWXQD
0LVLyQ
D(ODERUDU\DFWXDOL]DUODVSROtWLFDVSURWRFRORVFyGLJRVGHFRQGXFWD
pWLFD \R PDQXDOHV LQVWLWXFLRQDOHV SDUD OD SUHYHQFLyQ \ DWHQFLyQ GHO
DEXVRDPHQRUHVGHHGDG\DGXOWRVYXOQHUDEOHV
E2IUHFHUDSR\RSDUDODLPSOHPHQWDFLyQGHGLFKRVLQVWUXPHQWRVVHJ~Q
ODVFLUFXQVWDQFLDVSDUWLFXODUHV\ODUHDOLGDGGHODGLyFHVLV
F9HUL¿FDUTXHHQODVSDUURTXLDV\HQRWUDVLQVWLWXFLRQHVGHOD,JOHVLD
VHJDUDQWLFHODVHJXULGDGGHORVPHQRUHVQLxRVQLxDV\DGROHVFHQWHV\
GHTXLHQHVVRQUHFRQRFLGRVFRPRDGXOWRVYXOQHUDEOHV
G %ULQGDU DVHVRUtD MXUtGLFD FDQyQLFD \ SVLFROyJLFD SDUD OD DWHQFLyQ
LQWHJUDO GH FDVRV GH DEXVR VH[XDO D PHQRUHV GH HGDG FRPHWLGRV SRU
FOpULJRVWDQWRDGHQXQFLDQWHVFRPRDGHQXQFLDGRV
H&DSDFLWDUDORVVDFHUGRWHV\DORVDJHQWHVGHSDVWRUDOSDUDGHWHFWDU
VLJQRVGHSRVLEOHDEXVR\SDUDVDEHUFyPRDWHQGHUDODYtFWLPD
I %ULQGDU HVSDFLRV HQ OD FDWHTXHVLV \ SDVWRUDO MXYHQLO SDUD DEDUFDU
HO WHPD GHO DEXVR \ DVt HGXFDU D ORV QLxRV \ MyYHQHV SDUD GHWHQHU
HVWD SUREOHPiWLFD URPSHU HO VLOHQFLR \ GHQXQFLDU DQWH ODV LQVWDQFLDV
UHVSHFWLYDV
- 46 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
% 2UJDQLVPRV GH FRODERUDFLyQ SDUD DVXQWRV GHO 9LFDULR

*HQHUDOSDUDOD3DVWRUDO
$UWtFXOR,QVWLWXWR'LRFHVDQRSDUDOD)RUPDFLyQ3DVWRUDO
1DWXUDOH]DHVHORUJDQLVPRIRUPDGRSRUFOpULJRVUHOLJLRVRV\ODLFRVLGyQHRV
TXHEDMRODFRRUGLQDFLyQGHO&RQVHMR'LRFHVDQRSDUDOD3DVWRUDOUHÀH[LRQD
\RUJDQL]DSURFHVRVGHIRUPDFLyQLQWHJUDODGHFXDGRVDODQHFHVLGDGGHORV
DJHQWHVGHSDVWRUDO(O6HJXQGR6tQRGR'LRFHVDQRORQRPEUDFRPR(VFXHOD
'LRFHVDQDGHDJHQWHVGHSDVWRUDO
0LVLyQ
D &RQ¿JXUDU XQ REVHUYDWRULR YHU OD UHDOLGDG GHO PRPHQWR SDVWRUDO
TXH ORJUH VXJHULU FRQWHQLGRV IRUPDWLYRV SDUD WRGRV ORV DJHQWHV GH
SDVWRUDO\FRQHOORDSRUWDUHOOHQJXDMHFRP~QTXHIDFLOLWHHOGHVDUUROOR
\ODFRPSUHQVLyQGHOFDPLQRHYDQJHOL]DGRUGLRFHVDQR
E %ULQGDU D WRGRV ORV DJHQWHV GH OD SDVWRUDO GH IRUPD SURFHVXDO OD
GHELGD IRUPDFLyQ \ DFWXDOL]DFLyQ GH DFXHUGR FRQ ODV RULHQWDFLRQHV
GHO 0DJLVWHULR DFWXDO GHO 6HJXQGR 6tQRGR 'LRFHVDQR \ GHO SURFHVR
HYDQJHOL]DGRUGLRFHVDQR
F&RRUGLQDUFRQLQVWLWXWRVXRUJDQL]DFLRQHVHVSHFLDOL]DGRVODDSOLFDFLyQ
GH SURFHVRV IRUPDWLYRV GH IiFLO DFFHVR D ORV DJHQWHV SDVWRUDOHV \
FRQWH[WXDOL]DGRVDODUHDOLGDGGLRFHVDQD
G &RRUGLQDU \ JDUDQWL]DU SURFHVRV HQ OD IRUPDFLyQ JHQHUDO GH OD IH
DVtFRPRORVHVSDFLRVHVSHFt¿FRVQHFHVDULRVSDUDODSUHVWDFLyQGHORV
GLYHUVRVVHUYLFLRVHQHOiPELWRSDUURTXLDO\GLRFHVDQR
H,QFXUVLRQDUHQODVQXHYDVWHFQRORJtDVGHLQIRUPDFLyQ\FRPXQLFDFLyQ
I)RPHQWDUODFXOWXUDYRFDFLRQDO
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD5HÀH[LyQ\(GLFLyQGH0DWHULDOHV
1DWXUDOH]D HV HO RUJDQLVPR IRUPDGR SRU FOpULJRV \ ODLFRV LGyQHRV TXH
HQFRRUGLQDFLyQFRQHO&RQVHMR'LRFHVDQRSDUDOD3DVWRUDOVHHQFDUJDGH
OD UHÀH[LyQ UHGDFFLyQ GLDJUDPDFLyQ \ SURGXFFLyQ GH PDWHULDOHV TXH VH
DSOLFDUiQHQHOSURFHVRGLRFHVDQRSDVWRUDO\HYDQJHOL]DGRU
- 47 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
0LVLyQ
D (VWDEOHFHU ORV FRQFHSWRV WHROyJLFRV SDVWRUDOHV GH ORV GLIHUHQWHV
PDWHULDOHV D SURGXFLU HQ FRPXQLyQ FRQ ORV FULWHULRV GLRFHVDQRV \ HO
SURFHVRHYDQJHOL]DGRUSUHYLDFRRUGLQDFLyQFRQHO&RQVHMR'LRFHVDQR
SDUDOD3DVWRUDO
E &RRUGLQDU OD UHGDFFLyQ \ GLDJUDPDFLyQ GH ORV PDWHULDOHV TXH VH
SURGXFLUiQ
F (ODERUDU PDWHULDOHV VHQFLOORV \ GH IiFLO DFFHVR VXJHULGRV HQ HO
SURFHVR GLRFHVDQR GH SDVWRUDO FRQ RFDVLyQ GH ORV WLHPSRV OLW~UJLFRV
XRWURVHVSDFLRVHVSHFt¿FRVGHLQWHUpVSDUDSURPRYHUH[SHULHQFLDVGH
YLGDGHFRPXQLGDGHQORVGLIHUHQWHV1LYHOHVGH,JOHVLD
G %XVFDU ORV FDQDOHV DGHFXDGRV SDUD OD SURGXFFLyQ GH PDWHULDOHV
LPSUHVRVXRWURVGHIiFLODFFHVRHLQFXUVLRQDUHQODVQXHYDVWHFQRORJtDV
GHLQIRUPDFLyQ\FRPXQLFDFLyQ
H0DQWHQHUFULWHULRVHYDOXDWLYRVGHODSURYHFKDPLHQWRGHORVPDWHULDOHV
SURGXFLGRVD¿QGHJDUDQWL]DUODFDOLGDGGHORVPLVPRV
I (VWDEOHFHU XQ EDQFR GLJLWDO GH PDWHULDOHV SURGXFLGRV \ WDPELpQ
WHQHUORVHQXQDUFKLYRGHPDQHUDLPSUHVD
J)RPHQWDUODFXOWXUDYRFDFLRQDO
$UWtFXOR(TXLSR'LRFHVDQRSDUDOD$VHVRUtD7HROyJLFD\3DVWRUDO
1DWXUDOH]D HV HO HTXLSR GH SHULWRV HQ PDWHULD WHROyJLFD R GH GLVFLSOLQD
HFOHVLiVWLFD QRPEUDGR SRU HO 2ELVSR FRPR DSR\R HQ VX IXQFLyQ GH
HQVHxDQ]DODFXDOEXVFDFXVWRGLDU\WUDQVPLWLU¿HOPHQWHODGRFWULQDGHODIH
\ODVFRVWXPEUHV
0LVLyQ
D3URFXUDUTXHORVOLEURV\RWURVHVFULWRVUHODWLYRVDODIH\ODVFRVWXPEUHV
TXH KD\DQ VLGR SXEOLFDGRV VH VRPHWDQ DO SUHYLR H[DPHQ SDUD TXH VH
FRQFHGDQODVOLFHQFLDVRSRUWXQDVFIFDQRQ
E ([DPLQDU ODV SXEOLFDFLRQHV \ ODV GHFODUDFLRQHV DSDUHFLGDV HQ ORV
PHGLRVGHFRPXQLFDFLyQVRFLDOUHODWLYDVDODIHODPRUDO\ODGLVFLSOLQD
FDWyOLFD\HPDQDUDVROLFLWXGGHO2ELVSRODVRULHQWDFLRQHVRSRUWXQDV
TXHVXJLHUDQHOFDPLQRGHODYHUGDG
F 5HFLELU ORV GRFXPHQWRV R FRQVXOWDV SXQWXDOHV SURYHQLHQWHV GHO
2ELVSRVDFHUGRWHVRGHORVRUJDQLVPRVGHOD&XULDUHODWLYRVDODIHOD
- 48 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
GLVFLSOLQDRODVFRVWXPEUHVFDWyOLFDVSDUDDVHVRUDUORV
G 3URYHHU VHD SHUVRQDO R FROHJLDOPHQWH DO 2ELVSR GHO FHQVRU TXH
UHTXLHUD SDUD HO H[DPHQ R YDORUDFLyQ GH XQ GRFXPHQWR HVSHFt¿FR \
RIUHFHUVXFULWHULRSRUHVFULWRFIFDQ
,93$57(
'(3$57$0(1726<6(59,&,26'(
/$&85,$',2&(6$1$
$UWtFXOR&DQFLOOHUtD
1DWXUDOH]DHVHORUJDQLVPRFRRUGLQDGRSRUHO&DQFLOOHUTXHFRODERUDHQ
HOVHUYLFLRGHVHFUHWDUtD\QRWDUtDGHOD&XULDSDUDUHVSDOGDUFDGDXQDGHODV
DFFLRQHVMXUtGLFRSDVWRUDOHVUHDOL]DGDVSRUODDXWRULGDGFRPSHWHQWH
0LVLyQ
D&XVWRGLDU\FRQVHUYDUFRQVXPRFXLGDGR\RUGHQWRGRORUHIHUHQWHDO
DUFKLYRGLRFHVDQRFIFDQRQ
E $FRJHU FRQ VHQVLELOLGDG SDVWRUDO ODV GLIHUHQWHV SHWLFLRQHV \
SODQWHDPLHQWRVFRQFUHWRVTXHOOHJDQDOD&XULD
F 5HFLELU WRGD OD FRUUHVSRQGHQFLD R¿FLDO GH OD &XULD GLRFHVDQD \
HIHFWXDUHOUHVSHFWLYRSURWRFRORRUHJLVWUR
G&XLGDUGHODUFKLYRGHOD&XULD\HQFRODERUDFLyQFRQORVVHUYLFLRV
GHHVWDGtVWLFDFRQIHFFLRQDU\PDQWHQHUORV¿FKHURVItVLFRV\GLJLWDOHV
GRQGHVHFRQVHUYDODLQIRUPDFLyQGLRFHVDQD
H6HUHOSXQWRGHFRPXQLFDFLyQFDQyQLFDFRQOD6HGH5RPDQD\HQVX
FDVRFRQRWUDV&XULDVGLRFHVDQDV\FRQORVRUJDQLVPRVFRPSHWHQWHVGH
OD&RQIHUHQFLD(SLVFRSDO
I$VHVRUDUHQUHODFLyQFRQORVOLEURVR¿FLDOHVGHUHJLVWURGHODVSDUURTXLDV
\GHRWUDVHQWLGDGHVFRQSHUVRQDOLGDGFDQyQLFDHVSHFLDOPHQWHWRGROR
UHODFLRQDGRFRQORVH[SHGLHQWHVPDWULPRQLDOHVFIFDQQ
J'DUDFRQRFHUDWUDYpVGHJXtDVLQYHQWDULRVRFDWiORJRVHOFRQWHQLGR
GHODGRFXPHQWDFLyQGHODUFKLYR\FRORFDUODDGLVSRVLFLyQGHWRGRVSDUD
TXHSXHGDVHUFRQVXOWDGD\DVtFXPSOLUXQDPLVLyQVRFLDO\HFOHVLDO
- 49 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR7ULEXQDO(FOHVLiVWLFR
1DWXUDOH]D HV XQ yUJDQR MXULVGLFFLRQDO HFOHVLiVWLFR HQ HO TXH VH HMHUFH
OD MXVWLFLD VHJ~Q HO PRGR \ ODV FRPSHWHQFLDV HVWDEOHFLGDV SRUHO &yGLJR
GH'HUHFKR&DQyQLFR6RQORVWLWXODUHVGHODSRWHVWDGMXGLFLDOGHO2ELVSR
TXLHQODHMHUFHQRUPDOPHQWHPHGLDQWHMXHFHV\QRWDULRV
/RVPLHPEURVGHHVWHWULEXQDOVRQHO2ELVSRHO9LFDULR-XGLFLDO\ORVMXHFHV
QRPEUDGRV6HJ~QODPDWHULDMX]JDUiXQWULEXQDOXQLSHUVRQDORFROHJLDGR
DGHPiVHOGHIHQVRUGHOYtQFXORHOSURPRWRUGHMXVWLFLDORVDXGLWRUHV\ORV
QRWDULRV
(QODRUJDQL]DFLyQMXGLFLDOHFOHVLiVWLFDVHDSOLFDHOSULQFLSLRGHSOXUDOLGDG
GHLQVWDQFLDVSRUORTXHH[LVWHODSRVLELOLGDGGHSUHVHQWDUUHFXUVRFRQWUD
XQDVHQWHQFLDDOWULEXQDOGHODLQVWDQFLDVXSHULRU&DGDGLyFHVLVRHVWUXFWXUD
HTXLSDUDGD WHUULWRULDO R SHUVRQDO WLHQH XQ SURSLR WULEXQDO GH SULPHUD
LQVWDQFLD
0LVLyQ
D(MHUFHUPHGLDQWHHO9LFDULR-XGLFLDOODSRWHVWDGSURSLDTXHOHKDVLGR
GHOHJDGDSDUDODUHFWDHMHFXFLyQ\VROXFLyQGHODMXVWLFLDHQODGLyFHVLV
PHGLDQWHORVSURFHVRVHVWDEOHFLGRVSDUDFDGDFDVRVHJ~QHO&yGLJRGH
'HUHFKR&DQyQLFR
E/OHYDUDFDERORVSURFHVRVQHFHVDULRVSDUDGDUVROXFLyQMXVWDDODV
VLWXDFLRQHVUHIHUHQWHVDODYLGDPDWULPRQLDO\GHORVFOpULJRVVHJ~QOR
SHUPLWHHO'HUHFKR
F5HFLELU\HQFDX]DUORVUHFXUVRV\ODVGHPDQGDVFDQyQLFDVQHFHVDULDV
SDUDHOHVWXGLRGHQXOLGDGPDWULPRQLDO
G,QVWUXLUORVUHVSHFWLYRVUHFXUVRVDGPLQLVWUDWLYRVTXHVHSUHVHQWHQHQ
ODGLyFHVLV\FRPXQLFDUODGHFLVLyQ¿QDODODVSDUWHV
$UWtFXOR2¿FLQDSDUD$VXQWRV6DFUDPHQWDOHV
1DWXUDOH]DHVXQVHUYLFLRTXHEULQGDOD&XULD\VHGHGLFDDGDUVROXFLyQ
DODVFRQVXOWDV\VLWXDFLRQHVTXHSRUPRWLYRVYDULRVLPSLGHQODUHFHSFLyQ
DGHFXDGDGHORVVDFUDPHQWRVSRUSDUWHGHORV¿HOHVFULVWLDQRVGHODGLyFHVLV
0LVLyQ
D$\XGDUDORVSiUURFRVHQODVFXHVWLRQHVUHIHUHQWHVDORVH[SHGLHQWHV
PDWULPRQLDOHV
E 7UDPLWDU ORV GRFXPHQWRV GH FRQFHVLyQ GH GLVSHQVDV SRU
- 50 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
DPRQHVWDFLRQHV SRU LPSHGLPHQWRV PDWULPRQLDOHV \ IRUPD FDQyQLFD

FRQYDOLGDFLRQHV \ DXWRUL]DFLyQ GH PDWULPRQLRV TXH QR VH SXHGHQ
FHOHEUDUVLQOLFHQFLDGHO2UGLQDULRGHOOXJDUFIFDQ
F 7UDPLWDU ORV H[SHGLHQWHV PDWULPRQLDOHV TXH LPSOLFDQ UHODFLyQ FRQ
RWUDVGLyFHVLV
G&XLGDUTXHORVSiUURFRVDVLHQWHQHQORVOLEURVFRUUHVSRQGLHQWHVOD
FHOHEUDFLyQ GH ORV PDWULPRQLRV \ HYHQWXDOPHQWH OD GHFODUDFLyQ GH
QXOLGDG
H2ULHQWDUDORVSiUURFRVHQORVDVXQWRVFRQFHUQLHQWHVDODUHDOL]DFLyQ
GHORVVDFUDPHQWRV\VROXFLRQDUORVREVWiFXORVTXHVHSUHVHQWHQSDUDVX
YDOLGH]
I,QVWUXLUHQORVSURFHVRVQHFHVDULRVDQWHODVROLFLWXGGHODVGLVSHQVDV
GHOHMHUFLFLRGHOPLQLVWHULRVDFHUGRWDO\GHODOH\GHOFHOLEDWR
$UWtFXOR2¿FLQDSDUDODVGHQXQFLDVGHDEXVRDPHQRUHVGHHGDG\
DGXOWRVYXOQHUDEOHV
1DWXUDOH]D HV OD R¿FLQD HVWDEOH \ IiFLOPHQWH DFFHVLEOH DO S~EOLFR SDUD
SUHVHQWDU ORV LQIRUPHV \ GHQXQFLDV VREUH DEXVRV D PHQRUHV GH HGDG \
DGXOWRV YXOQHUDEOHV XVR GH SRUQRJUDItD LQIDQWLO R HQFXEULPLHQWR GH ORV
DEXVRVFRPHWLGRVSRUFOpULJRVFRQVDJUDGRVXRWURVDJHQWHVGHSDVWRUDO
(QHVWDR¿FLQDWLHQHVXVHGHODFRPLVLyQQRPEUDGDSDUDODSUHYHQFLyQGHO
DEXVRDPHQRUHVGHHGDG\DGXOWRVYXOQHUDEOHV
0LVLyQ
D5HFLELU\GLVFHUQLUODVGHQXQFLDVHLQIRUPHVGHFDVRVVREUHDEXVRVD
PHQRUHVGHHGDGRSHUVRQDVYXOQHUDEOHV
E'DUDFRQRFHUORVSURWRFRORVHVWDEOHFLGRVWDQWRSRUOD&RQIHUHQFLD
(SLVFRSDOGH&RVWD5LFDFRPRSRUODGLyFHVLVSDUDHVWRVFDVRV
F*DUDQWL]DUODFRQ¿GHQFLDOLGDG\SURWHJHUGHSRVLEOHVUHSUHVDOLDVDORV
GHQXQFLDQWHV
G,QIRUPDUDFHUFDGHOWUiPLWHTXHVHOHYDGDQGRDODVGHQXQFLDV\GH
VXUHVROXFLyQ
H (VWDEOHFHU OD FRRUGLQDFLyQ FRQ HO 9LFDULR -XGLFLDO \ HVWH FRQ HO
7ULEXQDO(FOHVLiVWLFR3URYLQFLDOGH&RVWD5LFD
I5HPLWLUDODVYtFWLPDV\VXVIDPLOLDVDODWHUDSLDSVLFROyJLFDRVRFLDO
TXHUHTXLHUDQ
- 51 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
$UWtFXOR2¿FLQDSDUDODLQVWUXFFLyQGHODVFDXVDVPDWULPRQLDOHV
1DWXUDOH]DHVODR¿FLQDDFDUJRGHO9LFDULR-XGLFLDOTXLHQHQFRRUGLQDFLyQ
FRQ HO 7ULEXQDO (FOHVLiVWLFR 3URYLQFLDO GH &RVWD 5LFD FRODERUD HQ ORV
SURFHVRVUHODWLYRVDODVFDXVDVPDWULPRQLDOHVD¿QGHDJLOL]DUVXWUiPLWH
0LVLyQ
D2IUHFHUDVHVRUtDDDTXHOODVSHUVRQDVTXHGHVHDQLQLFLDUXQDFDXVDGH
GHFODUDFLyQGHQXOLGDGPDWULPRQLDODQWHHO7ULEXQDO(FOHVLiVWLFR
E 5HYLVDU ORV FXHVWLRQDULRV \ OD UHGDFFLyQ GH OD GHPDQGD SDUD VHU
SUHVHQWDGDDQWHHO7ULEXQDO(FOHVLiVWLFR
F &RRUGLQDU OD FRQGXFFLyQ GH ORV LQWHUURJDWRULRV VROLFLWDGRV SRU HO
G$VLJQDUYDORUDFLRQHVSVLFROyJLFDV\GHWHUDSLDVVHJ~QVHLQGLTXHSRU
PHGLRGHODFRODERUDFLyQGHSURIHVLRQDOHV
H 5HDOL]DU ORV SURFHVRV EUHYHV ³SURFHVXV EUHYLRU´ HQ HO iPELWR
GLRFHVDQRFRQEDVHHQODOHJLVODFLyQ8QLYHUVDO\HQFRRUGLQDFLyQFRQHO
$UWtFXOR'HSDUWDPHQWR/HJDO
1DWXUDOH]DHVHOGHSDUWDPHQWRTXHVHGHGLFDDFRQRFHUSURFHVDUGLVFHUQLU
\UHVROYHUWRGRVORVDVXQWRVOHJDOHVFLYLOHVHQORVTXHLQWHUYHQJDODGLyFHVLV
UHFRQRFLGD FRPR 7HPSRUDOLGDGHV GH OD ,JOHVLD &DWyOLFD ± 'LyFHVLV GH
$ODMXHOD
0LVLyQ
D 3URWHJHU OD ¿UPD GHO 2ELVSR R GH DTXHO D TXLHQ pO GHVLJQH FRPR
$SRGHUDGR *HQHUDOtVLPR GH 7HPSRUDOLGDGHV GH OD ,JOHVLD &DWyOLFD
'LyFHVLVGH$ODMXHODHQFDGDXQDGHODVPDQLIHVWDFLRQHVOHJDOHV\DTXH
FDGDGRFXPHQWRTXHVH¿UPDWLHQHVXVFRQVHFXHQFLDVOHJDOHV
E 5HYLVDU \ GDU HO YLVWR EXHQR D ORV GRFXPHQWRV OHJDOHV TXH GHEH
¿UPDUHOUHSUHVHQWDQWHOHJDOGH7HPSRUDOLGDGHVGHOD,JOHVLD&DWyOLFD
'LyFHVLVGH$ODMXHOD
F5HDOL]DUGHR¿FLRODVHVFULWXUDV\FRQWUDWRV
G/OHYDUORVSURFHVRVMXGLFLDOHVFRUUHVSRQGLHQWHVDODGLyFHVLV
H&RQWDUFRQHODVHVRUDPLHQWRGHXQHTXLSROHJDOHVSHFLDOL]DGRHQORV
GLIHUHQWHVFDPSRVGHO'HUHFKR&LYLOTXHOHIDFLOLWHODFRQVXOWRUtD\OD
- 52 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
SUHVHQWDFLyQGHVROXFLRQHVDQWHHO2ELVSR
I &RRUGLQDU FRQ ORV DERJDGRV GH ODV GLIHUHQWHV SDUURTXLDV ODV
PDQLIHVWDFLRQHVOHJDOHVHQORVGLVWLQWRVSURFHVRVMXGLFLDOHV\GH¿QLUFRQ
HOORVODVFOiXVXODV\ODVFRQGLFLRQHVGHORVFRQWUDWRVSDUDODVDFFLRQHV
GHFDGDXQDGHODVSDUURTXLDV
J (VWDEOHFHU XQ HOHQFR GH DERJDGRV FRQ HVSHFLDOLGDG HQ 'HUHFKR
3HQDO \ /DERUDO D ORV FXDOHV VH SXHGD UHFXUULU HQ FDVR GH QHFHVLGDG
SULQFLSDOPHQWHSDUDORVFOpULJRV
K $VHVRUDU HQ OD WUDPLWDFLyQ GH SHUPLVRV GH IXQFLRQDPLHQWR GH ORV
LQPXHEOHVDQRPEUHGH7HPSRUDOLGDGHVGHOD,JOHVLD&DWyOLFD'LyFHVLV
GH$ODMXHOD\GHODVSDWHQWHVGHVHUYLFLRIXQHUDULDVSDUTXHRVFRFLQDV
FHQWURVSDVWRUDOHV\RWURV
$UWtFXOR'HSDUWDPHQWRGH&RPXQLFDFLyQ
1DWXUDOH]DHVHORUJDQLVPRDFDUJRGHDOJ~QODLFRRFOpULJRQRPEUDGR
SRUHO2ELVSRTXHFRODERUDHQODDQLPDFLyQ\FRRUGLQDFLyQGHOVHUYLFLRGH
FRPXQLFDFLyQVRFLDOHQOD&XULD'LRFHVDQD
0LVLyQ
D&UHDU\IRPHQWDUHORUJDQLVPRGHVHUYLFLRTXHDFRPSDxHODVGLYHUVDV
DFFLRQHVGHODFRPXQLFDFLyQVRFLDO
E 3ODQWHDU RSFLRQHV DFWXDOHV SDUD OD HYDQJHOL]DFLyQ D WUDYpV GH ORV
PRGHUQRVPHGLRVGHFRPXQLFDFLyQ
F0DQHMDUDGHFXDGDPHQWHORVSURFHVRVGHFRPXQLFDFLyQUHIHUHQWHVD
ODGLyFHVLV
G'HVDUUROODUORVHVSDFLRVQHFHVDULRVHQHOiUHDHVFULWD\HQODUDGLRSDUD
GDUDFRQRFHUORVDFRQWHFLPLHQWRVSDVWRUDOHVGLRFHVDQRVRQDFLRQDOHV
HQFRRUGLQDFLyQFRQODVUHVSHFWLYDVHQWLGDGHVQDFLRQDOHV
H ,QFRUSRUDU D HVSHFLDOLVWDV HQ HO FDPSR SDUD OOHYDU DGHODQWH OD
SDUWLFLSDFLyQ SRVLWLYD GH OD GLyFHVLV \ WUDQVPLWLU HO HYDQJHOLR HQ ODV
UHGHVVRFLDOHV
I 6ROLFLWDU DO 2ELVSR HO QRPEUDPLHQWR GH XQ YRFHUR R¿FLDO GH OD
GLyFHVLV
J(ODERUDUXQLQVWUXPHQWRVHQFLOOR\DFFHVLEOHTXHSHUPLWDODGLIXVLyQ
GHORVDFRQWHFLPLHQWRVGLRFHVDQRV\DVtIDYRUHFHUODSDUWLFLSDFLyQGHODV
FRPXQLGDGHVHFOHVLDOHVHQWRGRVORV1LYHOHVGH,JOHVLD
- 53 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
K/OHYDUDFDERODVHVWUDWHJLDVIRUPDOHVPiVIUHFXHQWHVHQHOPXQGRGH
ORVPHGLRVFRQYRFDWRULDDFRQIHUHQFLDV\UXHGDVGHSUHQVDUHGDFFLyQ
GHQRWDV\FRPXQLFDGRVR¿FLDOHVHQWUHRWURV
L*HVWLRQDUODSXEOLFLGDGGHODVFDPSDxDVTXHSXHGDQSURPRYHUGLYHUVRV
RUJDQLVPRVGHOD&XULDFRQIRUPHDVXVUHVSHFWLYDVFRPSHWHQFLDV
M$QLPDU\FRRUGLQDUODWDUHDGH5DGLR3LODUFLWDODJHVWLyQGHODVUHGHV
VRFLDOHV\GHRWURVPHGLRVGLJLWDOHVGHLQIRUPDFLyQ
$UWtFXOR5DGLR3LODUFLWD
1DWXUDOH]D HV OD HPLVRUD GH UDGLR R¿FLDO GH OD 'LyFHVLV GH $ODMXHOD
GHSHQGLHQWH GHO 'HSDUWDPHQWR GH FRPXQLFDFLyQ SDUD OD WUDQVPLVLyQ GH
DFRQWHFLPLHQWRV R¿FLDOHV GH SURJUDPDV TXH UHÀHMHQ OD DFFLyQ SDVWRUDO \
RWURVGHLQWHUpV
&RQWDUi FRQ OD JXtD GH XQ VDFHUGRWH R ODLFR QRPEUDGR SRU HO 2ELVSR
DGHPiVGHOSHUVRQDOQHFHVDULRSDUDVXRSHUDWLYLGDG\HOYROXQWDULDGRSDUD
GHVDUUROODUVXPLVLyQ
0LVLyQ
D7UDQVPLWLUDFRQWHFLPLHQWRVR¿FLDOHVSURJUDPDVTXHUHÀHMHQODDFFLyQ
SDVWRUDO\RWURVGHLQWHUpVGLRFHVDQR
E $\XGDU HQ OD GLyFHVLV D OOHYDU HO (YDQJHOLR D QXHVWURV iPELWRV
SDVWRUDOHV\DOS~EOLFRHQJHQHUDOSDUDFRODERUDUHQODIRUPDFLyQGHORV
¿HOHV\SURFXUDUODHYDQJHOL]DFLyQGHORVUDGLRHVFXFKDV
F3URFXUDUTXHVXSURJUDPDFLyQ\SURPRFLyQSURIHVLRQDOVHDFRQVLVWHQWH
FRQHO0DJLVWHULR\ODVHQVHxDQ]DVGHOD,JOHVLDSDUDOOHYDUODIHFDWyOLFD
DSHUVRQDV\FXOWXUDVTXHD~QQRKDQUHFLELGRHO(YDQJHOLR
G 3URFXUDU HO DXWR¿QDQFLDPLHQWR FRQ ORV UHFXUVRV DVLJQDGRV SRU HO
&RQVHMR'LRFHVDQRSDUD$VXQWRV(FRQyPLFRVODFROHFWDGLRFHVDQDSDUD
FRPXQLFDFLyQVRFLDOODVGRQDFLRQHV\ODVSDXWDVSXEOLFLWDULDV
$UWtFXOR'HSDUWDPHQWRGH&RQWDELOLGDG
1DWXUDOH]DHVHOGHSDUWDPHQWRHQFDUJDGRGHOOHYDUDOGtDORVUHJLVWURVGH
GDWRVHFRQyPLFRVGHOD&XULD\VXSHUYLVDUORVGHODVSDUURTXLDV\DTXHVH
GHEHUHVSHWDUHO2UGHQDPLHQWR(FRQyPLFR'LRFHVDQRDVtFRPRODVQRUPDV
FRQWDEOHV\FLYLOHVTXHULJHQHQQXHVWURSDtV
- 54 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
0LVLyQ
D,PSOHPHQWDUXQDSODWDIRUPDGHVHUYLFLRVSDUDJDUDQWL]DUXQDPHMRU
DWHQFLyQDODVSDUURTXLDV\DJHQWHVHFOHVLDOHVHQJHQHUDO
E 3URYHHUGHLQIRUPHVFRQWDEOHVDO&RQVHMR'LRFHVDQRSDUD$VXQWRV
(FRQyPLFRVSDUDGDUFXHQWDVGHOHVWDGRHFRQyPLFRGHODGLyFHVLV\GH
ODVSDUURTXLDV
F5HYLVDU\DQDOL]DUORVLQIRUPHVHFRQyPLFRVTXHHQYtDQODVSDUURTXLDV
\GHVHUQHFHVDULRKDFHUOHVODVVXJHUHQFLDV
G 3URYHHU D FDGD DFFLyQ SDVWRUDO FRPLVLyQ R HTXLSR GH WUDEDMR
GLRFHVDQRORVUHFXUVRVQHFHVDULRVSDUDHOVDQR\DWLQDGRHMHUFLFLRGH
VX ODERU SDVWRUDO VHJ~Q HO SUHVXSXHVWR DSUREDGR R DVLJQDGR D FDGD
RUJDQLVPR
H &DSDFLWDU D ORV &RQVHMRV (FRQyPLFRV 3DUURTXLDOHV \ &RPLVLRQHV
SDUDODV)LQDQ]DVTXHORUHTXLHUDQSDUDHMHUFHUVDQDPHQWHVXODERUGH
VHUYLFLRDODV7HPSRUDOLGDGHVGHOD,JOHVLD&DWyOLFD
I9LVLWDUODVSDUURTXLDVHQFRRUGLQDFLyQFRQHO(FyQRPRSDUDDSR\DU
HQORUHIHUHQWHDODDGPLQLVWUDFLyQHFRQyPLFDGHEHQGHLUDFRPSDxDGRV
GH HVSHFLDOLVWDV HQ PDWHULD ¿QDQFLHUD FRQWDEOH WULEXWDULD R OHJDO TXH
FRQVLGHUHHQFDGDFDVR
J9HODUTXHHQFDGDSDUURTXLD\GLDFRQtDVHOOHYHQHQIRUPDGHWDOODGD
HO OLEUR GH DFWDV HO GH WHVRUHUtD \ HO LQYHQWDULR GH ORV DUWtFXORV R
SHUWHQHQFLDVGHODV7HPSRUDOLGDGHVGHOD,JOHVLD&DWyOLFD±'LyFHVLVGH
$ODMXHOD
K5HDOL]DUORVUHSRUWHV\ORVSDJRVUHTXHULGRVGHODVGHFODUDFLRQHVGHO
0LQLVWHULRGH+DFLHQGD
L&RRUGLQDUFRQORVHVSHFLDOLVWDV¿QDQFLHURVHODVHVRUDPLHQWRSDUDHO
VDQRXVRGHODVLQYHUVLRQHVGHODGLyFHVLV
M/OHYDUFRQWUROGHORVUHSRUWHVTXHUHDOL]DQODVSDUURTXLDVFROHFWDV
LQYHUVLRQHVSURYHHGRUHV5(6(026$\6HJXURVHPLQDULRDVtFRPR
FXDOTXLHURWURSDJRTXHVHUHTXLHUD
N7UDPLWDUHODVHJXUDPLHQWR\H[FOXVLyQGHYHKtFXORVDQWHODDVHJXUDGRUD
FRQWUDWDGD5HYLVLyQVHPHVWUDOFREURGHOVHJXURGHSyOL]DGHYHKtFXORV
HQFDVRGHDFFLGHQWHV\HVWDEOHFHUORVSURWRFRORVDVHJXLUHQFDGDFDVR
O7UDPLWDUHOSDJRGHSyOL]DVULHVJRVGHWUDEDMRUHVSRQVDELOLGDGFLYLO
GHLQFHQGLRVXRWUDV
- 55 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
P 2WUDV LQVWDQFLDV HQ ODV TXH VH GHEH OOHYDU HO FRQWURO HQ HO DVSHFWR
FRQWDEOHVRQ
&DVD6DFHUGRWDOGHOD0LVHULFRUGLD
&ROHJLR3DWULDUFD6DQ-RVp
&DVD(SLVFRSDO
3URYHHGXUtD
7RGDVODVTXHHVWiQEDMRODUHYLVLyQHFRQyPLFDGHO2ELVSR
$UWtFXOR'HSDUWDPHQWRGH5HFXUVRV+XPDQRV
1DWXUDOH]DHVHORUJDQLVPRTXHJHVWLRQDWRGRORUHIHUHQWHDORVUHFXUVRV
KXPDQRV GH OD GLyFHVLV \ GH ODV SDUURTXLDV HQ PLUDV D XQ WUDWR MXVWR \
DGHFXDGR
0LVLyQ
D&RRUGLQDUFRQ)2&262/ODGHELGDLQFRUSRUDFLyQGHORVVDFHUGRWHV
D5(6(026$\6HJXUR6RFLDO
E(ODERUDFLyQGHOUHSRUWHGHODSODQLOODGHORVHPSOHDGRVGHODGLyFHVLV
\GHODVSDUURTXLDVHQDFXHUGRFRQHO0LQLVWHULRGH7UDEDMROD&&66
HO,16DVtFRPRHODERUDUHQVLVWHPDORVUHSRUWHVGHDFFLGHQWHVDOD
&&66\HO,16
F9HUL¿FDUHQFDGDSDUURTXLDHOGHELGRSDJRGHODVUHVSRQVDELOLGDGHV
REUHURSDWURQDOHV
G 9HODU TXH ORV FRQWUDWRV ODERUDOHV GH WRGR HPSOHDGR GH ODV
7HPSRUDOLGDGHV GH OD ,JOHVLD &DWyOLFD ± 'LyFHVLV GH $ODMXHOD VHDQ
GHELGDPHQWH¿UPDGRV
H6ROLFLWDU\UHFRJHUORV&XUULFXOXP9LWDHGHODVSHUVRQDVTXHEULQGDQ
VHUYLFLRVHQODVSDUURTXLDV\HQODGLyFHVLV\WHQHUXQDUFKLYRDOFXDOVH
SXHGDUHFXUULUHQFDVRGHQHFHVLGDG
I (ODERUDU HO GHELGR SURFHGLPLHQWR SDUD OD FRQWUDWDFLyQ GH QXHYRV
HPSOHDGRV\SDUDHOGHVSLGRUHSRVLFLyQRSHQVLyQ
J(VWDEOHFHUORVYtQFXORVQHFHVDULRVSDUDHOGHELGRFXLGDGR\UHVSDOGR
GHORVVDFHUGRWHVHQDOJXQDVLWXDFLyQHVSHFLDO
$UWtFXOR'HSDUWDPHQWRGH$UFKLYR+LVWyULFR
1DWXUDOH]DHVXQGHSDUWDPHQWRGHSHQGLHQWHGHOD&DQFLOOHUtD'LRFHVDQD
TXHUH~QHRUJDQL]DFRQVHUYDIDFLOLWD\GLYXOJDHOSDWULPRQLRGRFXPHQWDO
- 56 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
GHODGLyFHVLVD¿QGHSRQHUORDOVHUYLFLRGHORV¿HOHV\GHODVRFLHGDG(V
XQUHÀHMRGHODLGHQWLGDG\ODPHPRULDGLRFHVDQDWHVWLPRQLRGHODDFFLyQ
SDVWRUDOHQODKLVWRULD
0LVLyQ
D2UJDQL]DU\FRQVHUYDUODGRFXPHQWDFLyQSURFHGHQWHGHORVDUFKLYRV
SDUURTXLDOHV\GHODPLVPD&XULD
E2IUHFHUDORV¿HOHVPHMRUHVVHUYLFLRV\DFUHFHQWDUHOSDWULPRQLRFRQ
QXHYRVIRQGRV\FROHFFLRQHV
F &RQVHUYDU \ RUJDQL]DU OD PHPRULD GRFXPHQWDO GH OD 'LyFHVLV GH
$ODMXHODSDUDFRQWDUFRQLQIRUPDFLyQSUHFLVDTXHDSR\HODLQYHVWLJDFLyQ
\IDFLOLWHODWRPDGHGHFLVLRQHVSRUSDUWHGHOJRELHUQRGLRFHVDQR
$UWtFXOR'HSDUWDPHQWRGH3URYHHGXUtD
1DWXUDOH]DHVHOGHSDUWDPHQWRHQFDUJDGRGHODYHQWD\GHVSDFKRGHORV
GLIHUHQWHVSURGXFWRVXWHQVLOLRVRUQDPHQWRVRPDWHULDOHVSURSLRVSDUDODV
GLYHUVDVDFFLRQHVGHODGLyFHVLV\GHODVSDUURTXLDV7UDEDMDHQFRPXQLyQ
FRQOD3URYHHGXUtDGHOD&RQIHUHQFLD(SLVFRSDOGH&RVWD5LFD
0LVLyQ
D9HQGHU\GHVSDFKDUSURGXFWRVWDOHVFRPRYLQRKRVWLDVRUQDPHQWRV
RUIHEUHUtDFDWHFLVPRVELEOLDVLQFLHQVRHQWUHRWURV
E9HUL¿FDUHOSDJRGHFRQWDGR\FUpGLWRGHORVSURGXFWRVTXHVHYHQGHQ
$UWtFXOR&HQWUR'LRFHVDQRSDUDOD3DVWRUDO
1DWXUDOH]D HV HO iPELWR FRQ TXH FXHQWD OD GLyFHVLV SDUD UHDOL]DU ORV
GLVWLQWRVHQFXHQWURVGHVDFHUGRWHVRUJDQLVPRVGLRFHVDQRV\GHRWURVJUXSRV
HFOHVLDOHV7DPELpQHVXQOXJDUSDUDRWURVDFRQWHFLPLHQWRVVRFLDOHV
(ODGPLQLVWUDGRUGHO&HQWUR'LRFHVDQRSDUDOD3DVWRUDOQRPEUDGRSRUHO
2ELVSR HV TXLHQ YHOD SRU HO EXHQ IXQFLRQDPLHQWR GHO PLVPR \ FRRUGLQD
SDUD TXH ODV GLYHUVDV DFWLYLGDGHV VH OOHYHQ D FDER VLQ FRQWUDWLHPSRV \
HQ ODV PHMRUHV FRQGLFLRQHV 6X UHVSRQVDELOLGDG HV KDFHU ODV FRWL]DFLRQHV
QHFHVDULDVWDQWRGHOXVRLQWHUQRGHO&HQWURDFFLRQHVSURSLDVGHODGLyFHVLV
FRPRGHORVDJHQWHVH[WHUQRVTXHXWLOL]DQHOOXJDU
- 57 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
0LVLyQ
D %ULQGDU ORV PHGLRV RSHUDWLYRV SDUD OD UHDOL]DFLyQ GH HQFXHQWURV
UHIHUHQWHV D OD DFFLyQ SDVWRUDO \ OD IRUPDFLyQ SHUPDQHQWH GH ORV
VDFHUGRWHV\ODLFRV
E2IUHFHUHO&HQWUR'LRFHVDQRSDUDOD3DVWRUDOSDUDHQFXHQWURVWDOOHUHV
RIRUPDFLRQHVGHRWUDVLQVWLWXFLRQHVSULYDGDVRS~EOLFDVFRQHO¿QGH
DOFDQ]DUIRQGRVTXHSHUPLWDQLQYHUWLUHQPDQWHQLPLHQWR\HQODODERU
SDVWRUDO FRPR WDO HVWDV GHEHQ HVWDU FRRUGLQDGDV \ DJHQGDGDV SRU HO
DGPLQLVWUDGRUGHOOXJDU
F &RRUGLQDU VX DFFLyQ FRQ ORV GLIHUHQWHV HQFDUJDGRV \ UHVSRQVDEOHV
GH ODV SDVWRUDOHV GH OD GLyFHVLV \ GDU SULRULGDG D HOODV HQ HO XVR GHO
&HQWUR'LRFHVDQRSDUDOD3DVWRUDOVLHPSUH\FXDQGRVHDQDXWRUL]DGDV
SRUHO&RQVHMR'LRFHVDQRSDUDOD3DVWRUDO\HO&RQVHMR'LRFHVDQRSDUD
$VXQWRV(FRQyPLFRV\DJHQGDGDVSRUHOUHVSRQVDEOHGHOOXJDU
(VWH(VWDWXWRGH&XULDHVSURPXOJDGR³DGH[SHULPHQWXP´SRUWUHVDxRVHO
GHMXOLRGHOPHPRULDGHOD%HDWD0DUtD5RPHUR0HQHVHV\HQWUDHQ
YLJHQFLDHOGtDGHDJRVWRGHO)LHVWDGHOD7UDQV¿JXUDFLyQGHO6HxRU
7RGDV ODV QRUPDV GLRFHVDQDV DQWHULRUHV 6HJXQGR 6tQRGR 'LRFHVDQR
GHFUHWRV\UHJODPHQWRVHVWDEOHFLGDVHQHVWHGRFXPHQWRTXHGDQGHURJDGDV
\ODVTXHQRHVWpQHQFRQWUDVLJXHQYLJHQWHV
- 58 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
%,%/,2*5$)Ë$
Barquero José Rafael, Segundo Sínodo Diocesano “Padre, que todos sean
Uno para que el mundo crea”, Alajuela 2000.
Biblia de Jerusalén, Bilbao 1975, 9 ed.
CELAM, IV Conferencia General del Episcopado Latinoamericano y el
Caribe, “Santo Domingo”, Bogotá 1992.
CELAM, V Conferencia General del Episcopado Latinoamericano y el
Caribe, “Aparecida”, Bogotá 2007
Código de Derecho Canónico, Roma 1985, 6 ed.
Concilio Ecuménico Vaticano II, Constitución conciliar sobre la sagrada
liturgia “Sacrosanctum Concilium”, Roma 1963.
Concilio Ecuménico Vaticano II, Decreto conciliar sobre los presbíteros
“Presbyterorum Ordinis”, Roma 1965.
Congregación para los Obispos, Directorio para el ministerio pastoral de
los Obispos “Apostolorum Successores”, Roma 2004.
Francisco, Carta Encíclica Laudato Si’ sobre el cuidado de la casa común,
Roma 2015.
Francisco, Exhortación apostólica a los jóvenes y a todo el Pueblo de Dios
“Christus Vivit”, Roma 2019.
Francisco, Exhortación apostólica de Francisco sobre el anuncio del
Evangelio en el mundo actual “Evangelii Gaudium”, Roma 2013.
Francisco, Exhortación apostólica sobre el amor en la familia “Amoris
Laetitia”, Roma 2016.
Juan Pablo II, Exhortación apostólica sobre los laicos “Christifideles Laici”,
Roma 1988.
- 59 -
(67$7872'(&85,$',Ï&(6,6'($/$-8(/$
25*$1,*5$0$
'(/$&85,$',2&(6$1$'($/$-8(/$
- 60 -

Correcciones Estatuto Curia 2020

Hochgeladen von

Dokumentinformationen

Originaltitel

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

Correcciones Estatuto Curia 2020

Hochgeladen von

Copyright:

Verfügbare Formate

(67$7872'(&85,$',Ï&(6,6'($/$-8(/$

2'$

La creación, la modificación o la supresión justificadas de estos organismos;

GLVSHUVDV R LQFOXVR FRQWUDGLFWRULDV FI FDQRQ ,, 6'$

$UWtFXOR 3ULQFLSLRV GH RUJDQL]DFLyQ \ DGPLQLVWUDFLyQ GH OD &XULD

$UWtFXOR ([LJHQFLDV IXQGDPHQWDOHV GH ODV SHUVRQDV TXH FRODERUDQ

(TXLSR 'LRFHVDQR SDUD OD $QLPDFLyQ GH *UXSRV 0RYLPLHQWRV \

' 9LFDULRV (SLVFRSDOHV SDUD ODV GLPHQVLRQHV GH OD

$UWtFXOR 9LFDULR (SLVFRSDO SDUD OD$FFLyQ 0LVLRQHUD .HULJPD \

F ,QWHJUDU \ FRRUGLQDU ORV GLIHUHQWHV SURFHVRV FDWHTXpWLFRV FRPR XQ

6RFLDO GH OD ,JOHVLD DFFLRQHV HQ UHVSXHVWD D VLWXDFLRQHV GLRFHVDQDV

( 5HVSRQVDEOHV 'LRFHVDQRV GH ODV GLPHQVLRQHV GH OD

$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR (TXLSR 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO /LW~UJLFD \ &XOWR

E 2IUHFHU HVSDFLRV GH GLVFHUQLPLHQWR \ RULHQWDFLyQ YRFDFLRQDO HQ HO

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD SUHYHQFLyQ GHO DEXVR D

% 2UJDQLVPRV GH FRODERUDFLyQ SDUD DVXQWRV GHO 9LFDULR

DPRQHVWDFLRQHV SRU LPSHGLPHQWRV PDWULPRQLDOHV \ IRUPD FDQyQLFD

Das könnte Ihnen auch gefallen

Correcciones Estatuto Curia 2020

Hochgeladen von

Dokumentinformationen

Originaltitel

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

Correcciones Estatuto Curia 2020

Hochgeladen von

Copyright:

Verfügbare Formate

(67$7872'(&85,$',Ï&(6,6'($/$-8(/$

2'$  

La creación, la modificación o la supresión justificadas de estos organismos;

GLVSHUVDV R LQFOXVR FRQWUDGLFWRULDV FI FDQRQ   ,, 6'$

$UWtFXOR  3ULQFLSLRV GH RUJDQL]DFLyQ \ DGPLQLVWUDFLyQ GH OD &XULD

$UWtFXOR  ([LJHQFLDV IXQGDPHQWDOHV GH ODV SHUVRQDV TXH FRODERUDQ

 (TXLSR 'LRFHVDQR SDUD OD $QLPDFLyQ GH *UXSRV 0RYLPLHQWRV \

' 9LFDULRV (SLVFRSDOHV SDUD ODV GLPHQVLRQHV GH OD

$UWtFXOR 9LFDULR (SLVFRSDO SDUD OD$FFLyQ 0LVLRQHUD .HULJPD \

F ,QWHJUDU \ FRRUGLQDU ORV GLIHUHQWHV SURFHVRV FDWHTXpWLFRV FRPR XQ

6RFLDO GH OD ,JOHVLD DFFLRQHV HQ UHVSXHVWD D VLWXDFLRQHV GLRFHVDQDV

( 5HVSRQVDEOHV 'LRFHVDQRV GH ODV GLPHQVLRQHV GH OD

$UWtFXOR  5HVSRQVDEOH 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR  5HVSRQVDEOH 'LRFHVDQR SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR  (TXLSR 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR  &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR  &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO /LW~UJLFD \ &XOWR

E 2IUHFHU HVSDFLRV GH GLVFHUQLPLHQWR \ RULHQWDFLyQ YRFDFLRQDO HQ HO

$UWtFXOR  &RPLVLyQ 'LRFHVDQD SDUD OD SUHYHQFLyQ GHO DEXVR D

% 2UJDQLVPRV GH FRODERUDFLyQ SDUD DVXQWRV GHO 9LFDULR

DPRQHVWDFLRQHV SRU LPSHGLPHQWRV PDWULPRQLDOHV \ IRUPD FDQyQLFD

Das könnte Ihnen auch gefallen

2'$

GLVSHUVDV R LQFOXVR FRQWUDGLFWRULDV FI FDQRQ ,, 6'$

$UWtFXOR 3ULQFLSLRV GH RUJDQL]DFLyQ \ DGPLQLVWUDFLyQ GH OD &XULD

$UWtFXOR ([LJHQFLDV IXQGDPHQWDOHV GH ODV SHUVRQDV TXH FRODERUDQ

(TXLSR 'LRFHVDQR SDUD OD $QLPDFLyQ GH *UXSRV 0RYLPLHQWRV \

' 9LFDULRV (SLVFRSDOHV SDUD ODV GLPHQVLRQHV GH OD

$UWtFXOR 9LFDULR (SLVFRSDO SDUD OD$FFLyQ 0LVLRQHUD .HULJPD \

F ,QWHJUDU \ FRRUGLQDU ORV GLIHUHQWHV SURFHVRV FDWHTXpWLFRV FRPR XQ

6RFLDO GH OD ,JOHVLD DFFLRQHV HQ UHVSXHVWD D VLWXDFLRQHV GLRFHVDQDV

( 5HVSRQVDEOHV 'LRFHVDQRV GH ODV GLPHQVLRQHV GH OD

$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR 5HVSRQVDEOH 'LRFHVDQR SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR (TXLSR 'LRFHVDQR SDUD OD DQLPDFLyQ GH *UXSRV

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO GH &XOWXUD \

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD 3DVWRUDO /LW~UJLFD \ &XOWR

E 2IUHFHU HVSDFLRV GH GLVFHUQLPLHQWR \ RULHQWDFLyQ YRFDFLRQDO HQ HO

$UWtFXOR &RPLVLyQ 'LRFHVDQD SDUD OD SUHYHQFLyQ GHO DEXVR D

% 2UJDQLVPRV GH FRODERUDFLyQ SDUD DVXQWRV GHO 9LFDULR

DPRQHVWDFLRQHV SRU LPSHGLPHQWRV PDWULPRQLDOHV \ IRUPD FDQyQLFD