Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
&RQJUHVVRIWKH3KLOLSSLQHV
0HWUR0DQLOD
(OHYHQWK&RQJUHVV
7KLUG5HJXODU6HVVLRQ
%HJXQDQGKHOGLQ0HWUR0DQLODRQ0RQGD\WKHWZHQW\IRXUWKGD\RI-XO\WZR
WKRXVDQG
>5(38%/,&$&712@
6(&2EMHFWLYHV 7KHREMHFWLYHVRIWKH1DWLRQDO(&&'6\VWHPDUH
D7RDFKLHYHLPSURYHGLQIDQWDQGFKLOGVXUYLYDOUDWHVE\HQVXULQJWKDWDGHTXDWH
KHDOWKDQGQXWULWLRQSURJUDPVDUHDFFHVVLEOHWR\RXQJFKLOGUHQDQGWKHLUPRWKHUVIURPWKH
SUHQDWDOSHULRGWKURXJKRXWWKHHDUO\FKLOGKRRG\HDUV
E7RHQKDQFHWKHSK\VLFDOVRFLDOHPRWLRQDOFRJQLWLYHSV\FKRORJLFDOVSLULWXDO
DQGODQJXDJHGHYHORSPHQWRI\RXQJFKLOGUHQ
F7RHQKDQFHWKHUROHRISDUHQWVDQGRWKHUFDUHJLYHUVDVWKHSULPDU\FDUHJLYHUV
DQGHGXFDWRUVRIWKHLUFKLOGUHQIURPELUWKRQZDUGV
G7RIDFLOLWDWHDVPRRWKWUDQVLWLRQIURPFDUHDQGHGXFDWLRQSURYLGHGDWKRPHWR
FRPPXQLW\RUVFKRROEDVHGVHWWLQJDQGWRSULPDU\VFKRRO
H 7R HQKDQFH WKH FDSDELOLWLHV RI VHUYLFH SURYLGHUV DQG WKHLU VXSHUYLVRUV WR
FRPSO\ZLWKTXDOLW\VWDQGDUGVIRUYDULRXV(&&'SURJUDPV
I 7R HQKDQFH DQG VXVWDLQ WKH HIIRUWV RI FRPPXQLWLHV WR SURPRWH (&&'
SURJUDPV DQG HQVXUH WKDW VSHFLDO VXSSRUW LV SURYLGHG IRU SRRU DQG GLVDGYDQWDJHG
FRPPXQLWLHV
J7RHQVXUHWKDW\RXQJFKLOGUHQDUHDGHTXDWHO\SUHSDUHGIRUWKHIRUPDOOHDUQLQJ
V\VWHP DQG WKDW ERWK SXEOLF DQG SULYDWH VFKRROV DUH UHVSRQVLYH WR WKH GHYHORSPHQW DO
QHHGVRIWKHVHFKLOGUHQ
K 7R HVWDEOLVK DQ HIILFLHQW V\VWHP IRU HDUO\ LGHQWLILFDWLRQ SUHYHQWLRQ UHIHUUDO
DQGLQWHUYHQWLRQIRUGHYHORSPHQWDOGLVRUGHUVDQGGLVDELOLWLHVLQHDUO\FKLOGKRRGDQG
L 7R LPSURYH WKH TXDOLW\ VWDQGDUGV RI SXEOLF DQG SULYDWH (&&' SURJUDPV
WKURXJK EXW QRW OLPLWHG WR D UHJLVWUDWLRQ DQG FUHGHQWLDO V\VWHP IRU (&&' VHUYLFH
SURYLGHUV
6(&'HILQLWLRQV )RUSXUSRVHVRIWKLV$FW
D (DUO\ &KLOGKRRG &DUH DQG 'HYHORSPHQW (&&' 6\VWHP UHIHUV WR WKH IXOO
UDQJH RI KHDOWK QXWULWLRQ HDUO\ HGXFDWLRQ DQG VRFLDO VHUYLFHV SURJUDPVWKDWSURYLGHIRU
WKH EDVLF KROLVWLF QHHGV RI \RXQJ FKLOGUHQ IURP ELUWK WR DJH VL[ WR SURPRWH WKHLU
RSWLPXPJURZWKDQGGHYHORSPHQW7KHVHSURJUDPVLQFOXGH
&HQWHUEDVHG SURJUDPV VXFK DV WKH GD\ FDUH VHUYLFH HVWDEOLVKHG XQGHU
5HSXEOLF $FW 1R SXEOLF DQG SULYDWH SUHVFKRROV NLQGHUJDUWHQ RU VFKRROEDVHG
SURJUDPV FRPPXQLW\ RU FKXUFKEDVHG HDUO\ FKLOGKRRG HGXFDWLRQ SURJUDPV LQLWLDWHG E\
QRQJRYHUQPHQWRUJDQL]DWLRQVRUSHRSOHVRUJDQL]DWLRQVZRUNSODFHUHODWHGFKLOGFDUHDQG
HGXFDWLRQSURJUDPVFKLOGPLQGLQJFHQWHUVKHDOWKFHQWHUVDQGVWDWLRQVDQG
5HSXEOLF$FW1R
SDJH
+RPHEDVHG SURJUDPV VXFKDVWKHQHLJKERUKRRGEDVHGSOD\JURXSVIDPLO\
GD\FDUHSURJUDPVSDUHQWHGXFDWLRQDQGKRPHYLVLWLQJSURJUDPV
E(&&'6HUYLFH3URYLGHUVLQFOXGHWKHYDULRXVSURIHVVLRQDOVSDUDSURIHVVLRQDOV
DQGYROXQWHHUFDUHJLYHUVZKRDUHGLUHFWO\UHVSRQVLEOHIRUWKHFDUHDQGHGXFDWLRQRI\RXQJ
FKLOGUHQWKURXJKWKHYDULRXVFHQWHUDQGKRPHEDVHGSURJUDPV7KH\LQFOXGHEXWDUHQRW
OLPLWHG WR GD\ FDUH ZRUNHUV WHDFKHUV WHDFKHUDLGHV UXUDO KHDOWK PLGZLYHV VRFLDO
ZRUNHUV FRPPXQLW\ KHDOWK ZRUNHUV EDUDQJD\ QXWULWLRQ VFKRODUV SDUHQW HIIHFWLYHQHVV
VHUYLFHYROXQWHHUVFKLOGGHYHORSPHQWZRUNHUVDQGIDPLO\GD\FDUHSURYLGHUV
F (&&' &XUULFXOXP UHIHUV WR WKH DJHDSSURSULDWH DQG GHYHORSPHQWDOO\
DSSURSULDWHHGXFDWLRQDOREMHFWLYHVSURJUDPRIDFWLYLWLHVRUJDQL]HGOHDUQLQJH[SHULHQFHV
DQG UHFRPPHQGHG OHDUQLQJ PDWHULDOV IRU FKLOGUHQ WKDW DUH LPSOHPHQWHG E\ VHUYLFH
SURYLGHUVWKURXJKFHQWHUDQGKRPHEDVHGSURJUDPV,WVKDOOFRQVLVWRIQDWLRQDOSURJUDP
JRDOV DQG JXLGHOLQHV LQVWUXFWLRQDO REMHFWLYHV DQG FRQWHQW RXWOLQHV LQWHJUDWLQJ ORFDO
OHDUQLQJH[SHULHQFHVDQGLQGLJHQRXVOHDUQLQJPDWHULDOV
G 3DUHQW (GXFDWLRQ UHIHUV WR WKH YDULRXV IRUPDO DQG DOWHUQDWLYH PHDQV RI
SURYLGLQJ SDUHQWV ZLWK LQIRUPDWLRQ VNLOOV DQG VXSSRUW V\VWHPV WR DVVLVW WKHP LQ WKHLU
UROHV DV WKHLU FKLOGUHQV SULPDU\ FDUHJLYHUV DQG HGXFDWRUV 7KHVH LQFOXGH SXEOLF DQG
SULYDWHSDUHQWHGXFDWLRQSURJUDPVOLQNHGWRFHQWHUKRPHDQGPHGLDEDVHGFKLOGFDUHDQG
HGXFDWLRQSURJUDPV
6(&6\VWHP )UDPHZRUNDQG&RPSRQHQWV7KH(&&'6\VWHPVKDOOLQFOXGH
WKHIROORZLQJFRPSRQHQWV
D(&&'&XUULFXOXPZKLFKIRFXVHVRQFKLOGUHQVWRWDOGHYHORSPHQWDFFRUGLQJ
WRWKHLULQGLYLGXDOQHHGVDQGVRFLRFXOWXUDOEDFNJURXQG,WVKDOOSURPRWHWKHGHOLYHU\RI
FRPSOHPHQWDU\ DQG LQWHJUDWLYH VHUYLFHV IRU KHDOWK FDUH QXWULWLRQ HDUO\ FKLOGKRRG
HGXFDWLRQVDQLWDWLRQDQGFXOWXUDODFWLYLWLHV,WVKDOOXVHWKHFKLOGVILUVWODQJXDJHDVWKH
PHGLXPRILQVWUXFWLRQ
E 3DUHQW (GXFDWLRQ DQG ,QYROYHPHQW $GYRFDF\ DQG 0RELOL]DWLRQ RI
&RPPXQLWLHV ZKLFK KDUQHVV DQG GHYHORS SDUHQWV VWUHQJWKV DV SURYLGHUV RI (&&' DW
KRPHDFWLYHSDUWQHUVRIRWKHUVWDNHKROGHUVDGYRFDWHVIRUFRPPXQLW\FRQFHUQVWKDWDIIHFW
FKLOGUHQ DQG SLOODUV RI VXSSRUW IRU ORFDO DQG QDWLRQDO (&&' SURJUDPV WKURXJK
FRPPXQLW\RUJDQL]DWLRQHIIRUWV
F+XPDQ5HVRXUFH'HYHORSPHQW3URJUDPZKLFKHVWDEOLVKHVPHFKDQLVPVIRU
WKH V\VWHPDWLF SURIHVVLRQDOL]DWLRQ RI (&&' VHUYLFH SURYLGHUV WKURXJK HQUROOPHQW LQ
HGXFDWLRQDO SURJUDPV LQ VLWHEDVHG RU GLVWDQFH HGXFDWLRQ PRGHV WKURXJK SUHVHUYLFH RU
LQVHUYLFHWUDLQLQJLQFOXGLQJFRQWLQXLQJHGXFDWLRQSURJUDPVZKHUHE\DUHJLVWUDWLRQDQG
FUHGHQWLDOV\VWHPVKDOOEHGHYHORSHGLQWKH(&&'6\VWHP
G (&&' 0DQDJHPHQW ZKLFK IRFXVHV RQ D FRQWLQXLQJ SURFHVV RI SODQQLQJ
LPSOHPHQWDWLRQ VXSHUYLVLRQ ILQDQFLDO PDQDJHPHQW PRQLWRULQJ HYDOXDWLRQ DQG
5HSXEOLF$FW1R
SDJH
UHSRUWLQJ,WVKDOOHQFRXUDJHWKHDFWLYHLQYROYHPHQWDQGEXLOGWKHFDSDELOLWLHVRIVHUYLFH
SURYLGHUVSDUHQWVDQGORFDOJRYHUQPHQWRIILFLDOVWRVXVWDLQWKHSURJUDPDQGLWVKDOOEH
JXLGHGE\WKHSULQFLSOHVRIGHFHQWUDOL]DWLRQDVVWLSXODWHGLQWKH/RFDO*RYHUQPHQW&RGH
RI
H 4XDOLW\ 6WDQGDUGV DQG $FFUHGLWDWLRQ ZKLFK HQVXUHV WKDW HDFK FRPSRQHQW
LQ WKH (&&' 6\VWHP FRPSOLHV ZLWK QDWLRQDO TXDOLW\ VWDQGDUGV WR EH HVWDEOLVKHG E\ WKH
1DWLRQDO(&&'&RRUGLQDWLQJ&RXQFLODVSURYLGHGIRUXQGHU6HFWLRQRIWKLV$FWOLQNHG
WRDQDFFUHGLWDWLRQSURFHVV
6(&(VWDEOLVKPHQWRI(&&'6\VWHP7KH1DWLRQDO(&&'6\VWHPVKDOOEH
HVWDEOLVKHGLQDWOHDVWWKUHHUHJLRQVHDFK\HDUDVPD\EHGHWHUPLQHGE\WKH1DWLRQDO
(&&'&RRUGLQDWLQJ&RXQFLOWRDFKLHYHQDWLRQDOFRYHUDJHRYHUDILYH\HDUSHULRG
6(& ,PSOHPHQWLQJ $UUDQJHPHQWV DQG 2SHUDWLRQDO 6WUXFWXUHV 7KH
LPSOHPHQWDWLRQ RI WKH 1DWLRQDO (&&' 6\VWHP VKDOO EH WKH MRLQW UHVSRQVLELOLW\ RI WKH
QDWLRQDO JRYHUQPHQW DJHQFLHV ORFDO JRYHUQPHQW XQLWV QRQJRYHUQPHQW RUJDQL]DWLRQ V
DQGSULYDWHRUJDQL]DWLRQVWKDWDUHDFFUHGLWHGWRGHOLYHUWKHVHUYLFHVRUWRSURYLGHWUDLQLQJ
DQGWHFKQLFDODVVLVWDQFH
D5HVSRQVLELOLWLHVRIWKH1DWLRQDO*RYHUQPHQW1DWLRQDOJRYHUQPHQWDJHQFLHV
VKDOOEHUHVSRQVLEOHIRUGHYHORSLQJSROLFLHVDQGSURJUDPVSURYLGLQJWHFKQLFDODVVLVWDQFH
DQGVXSSRUWWRWKH(&&'VHUYLFHSURYLGHUVLQFRQVXOWDWLRQZLWKFRRUGLQDWLQJFRPPLWWHHV
DWWKHSURYLQFLDOFLW\PXQLFLSDODQGEDUDQJD\OHYHOVDVSURYLGHGIRULQ6HFWLRQRIWKLV
$FWDQGPRQLWRULQJRI(&&'VHUYLFHEHQHILWVDQGRXWFRPHV7KH'HSDUWPHQWRI6RFLDO
:HOIDUH DQG 'HYHORSPHQW '6:' WKH 'HSDUWPHQW RI (GXFDWLRQ &XOWXUH DQG 6SRUWV
'(&6 WKH 'HSDUWPHQW RI +HDOWK '2+ WKH 'HSDUWPHQW RI WKH ,QWHULRU DQG /RFDO
*RYHUQPHQW ',/* WKH 'HSDUWPHQW RI /DERU DQG (PSOR\PHQW '2/( WKH
'HSDUWPHQW RI $JULFXOWXUH '$ WKH 'HSDUWPHQW RI -XVWLFH '2- WKH 1DWLRQDO
(FRQRPLF DQG 'HYHORSPHQW $XWKRULW\ 1('$ DQG WKH 1DWLRQDO 1XWULWLRQ &RXQFLO
11&VKDOOMRLQWO\SUHSDUHDQQXDO(&&'ZRUNSODQVWKDWZLOOFRRUGLQDWHWKHLUUHVSHFWLYH
WHFKQLFDODVVLVWDQFHDQGVXSSRUWIRUWKH1DWLRQDO(&&'3URJUDP7KH\VKDOOFRQVROLGDWH
H[LVWLQJ SURJUDP LPSOHPHQWLQJ JXLGHOLQHV WKDW HQVXUH FRQVLVWHQF\ LQ LQWHJUDWHG VHUYLFH
GHOLYHU\ZLWKLQWKH1DWLRQDO(&&'6\VWHP
7KH '(&6 VKDOO SURPRWH WKH 1DWLRQDO (&&' 3URJUDP LQ VFKRROV (&&'
SURJUDPV LQ SXEOLF VFKRROV VKDOO EH XQGHU WKH MRLQW UHVSRQVLELOLW\ RI WKHLU UHVSHFWLYH
VFKRROSULQFLSDOVFKRROKHDGDQGSDUHQWVWHDFKHUVFRPPXQLW\DVVRFLDWLRQ37&$ZLWKLQ
WKH VWDQGDUGV VHW IRUWK LQ WKH 1DWLRQDO (&&' 6\VWHP DQG XQGHU WKH JXLGDQFH RI WKH
&LW\0XQLFLSDO (&&' &RRUGLQDWLQJ &RPPLWWHH IRU WKH HIIHFWLYH DQG HTXLWDEOH GHOLYHU\
RI (&&' VHUYLFHV ,W VKDOO DOVR PDNH DYDLODEOH H[LVWLQJ IDFLOLWLHV RI SXEOLF HOHPHQWDU\
VFKRROVIRU(&&'FODVVHV
3XEOLF DQG SULYDWH SUHVFKRROV VKDOO EH UHJLVWHUHG E\ WKH 3URYLQFLDO RU &LW\
(&&' &RRUGLQDWLQJ &RPPLWWHH XSRQ WKH UHFRPPHQGDWLRQ RI WKH UHVSHFWLYH GLYLVLRQ
RIILFH RI WKH '(&6 1*2LQLWLDWHG FRPPXQLW\ FKXUFK KRPH DQG ZRUNSODFHEDVHG
5HSXEOLF$FW1R
SDJH
VHUYLFH SURYLGHUV VKDOO EH UHJLVWHUHG XSRQ WKH UHFRPPHQGDWLRQ RI WKH SURYLQFLDOFLW\
VRFLDOZHOIDUHDQGGHYHORSPHQWRIILFH7KHVHSXEOLFDQGSULYDWH(&&'VHUYLFHSURYLGHUV
VKDOORSHUDWHZLWKLQWKHVWDQGDUGVVHWIRUWKLQWKH1DWLRQDO(&&'6\VWHPDQGXQGHUWKH
JXLGDQFHRIWKH&LW\0XQLFLSDO(&&'&RRUGLQDWLQJ&RPPLWWHHIRUWKHHIIHFWLYHGHOLYHU\
RI(&&'VHUYLFHV
E 5HVSRQVLELOLWLHV RI /RFDO *RYHUQPHQW 8QLWV /RFDO JRYHUQPHQW XQLWV
/*8VVKDOOEHSULPDULO\UHVSRQVLEOHIRU
,PSOHPHQWLQJWKH1DWLRQDO(&&'3URJUDPE\SURYLGLQJEDVLFSXEOLF(&&'
VHUYLFHV
6XSSRUWLQJWKHRUJDQL]DWLRQRISDUHQWFRRSHUDWLYHVWRLQLWLDWHWKHHVWDEOLVKPHQW
RI(&&'SURJUDPV
(QVXULQJ WKDW VHUYLFH SURYLGHUV RI SXEOLF (&&' SURJUDPV XQGHU WKHLU
VXSHUYLVLRQVKDOOEHMXVWO\FRPSHQVDWHGWKDWDGHTXDWHIXQGVDUHPDGHDYDLODEOHDQGWKHLU
ZRUNLQJFRQGLWLRQVDUHFRQGXFLYHWRIXOILOOQDWLRQDOTXDOLW\VWDQGDUGVDQG
3URYLGLQJ FRXQWHUSDUW IXQGV IRU WKH WUDLQLQJ DQG FRQWLQXLQJ HGXFDWLRQ RI
(&&' VHUYLFH SURYLGHUV DQG VXSSRUWLQJ WKH RSHUDWLRQV RI 3URYLQFLDO &LW\0XQLFLSDO
DQG%DUDQJD\(&&'&RRUGLQDWLQJ&RPPLWWHHV
F 5HVSRQVLELOLWLHV RI )DPLOLHV DQG &RPPXQLWLHV 7KH IDPLOLHV DQG
FRPPXQLWLHVVKDOOVXSSRUWWKHORFDO(&&'SURJUDPVE\SDUWLFLSDWLQJLQYDULRXVSURMHFWV
IRUWKHRYHUDOOGHYHORSPHQWRIWKHLUFKLOGUHQ
6(& &UHDWLRQ RI 1DWLRQDO &RRUGLQDWLQJ &RXQFLO DQG &RRUGLQDWLQJ
&RPPLWWHHV IRU (&&' 7R HQVXUH WKH VXVWDLQHG LQWHUDJHQF\ DQG PXOWLVHFWRUDO
FROODERUDWLRQIURPWKHQDWLRQDOSURYLQFLDOFLW\PXQLFLSDOWREDUDQJD\OHYHOVD1DWLRQDO
&RRUGLQDWLQJ &RXQFLO DQG SURYLQFLDO FLW\PXQLFLSDO DQG EDUDQJD\ FRRUGLQDWLQJ
FRPPLWWHHVVKDOOEHRUJDQL]HG
D 1DWLRQDO (&&' &RRUGLQDWLQJ &RXQFLO 7KH &RXQFLO IRU WKH :HOIDUH RI
&KLOGUHQ &:& VKDOO DOVR IXQFWLRQ DV WKH 1DWLRQDO (&&' &RRUGLQDWLQJ &RXQFLO
KHUHLQDIWHU UHIHUUHG WR DV WKH &RXQFLO DQG VKDOO KHUHE\ EH XQGHU WKH 2IILFH RI WKH
3UHVLGHQW
&RPSRVLWLRQ ,Q DGGLWLRQ WR WKH H[LVWLQJ PHPEHUV RI WKH &:& WZR
SULYDWH LQGLYLGXDOV ZKR DUH (&&' SUDFWLWLRQHUV DQG H[SHUWV VKDOO EH DSSRLQWHG E\ WKH
3UHVLGHQW XSRQ UHFRPPHQGDWLRQ RI WKH &RXQFLO IRU D WHUP RI WZR \HDUV VXEMHFW WR
RQH UHDSSRLQWPHQW 7KH &RXQFLO VKDOO PHHWRQFHDPRQWKRUDVRIWHQDVQHFHVVDU\
7KH 6HFUHWDULHV RI WKH '6:' '(&6 '2+ DQG ',/* VKDOO DFW DV FRFKDLUSHUVRQV RI
WKH &RXQFLO DQG PXVW EH UHSUHVHQWHG E\ D SHUVRQ ZLWK D UDQN QRW ORZHU WKDQ DQ
8QGHUVHFUHWDU\
5HSXEOLF$FW1R
SDJH
&RXQFLO6HFUHWDULDW7KH&:&6HFUHWDULDWVKDOODOVRVHUYHDVWKHVHFUHWDULDW
RIWKH&RXQFLO,WVKDOOEHKHDGHGE\DQH[HFXWLYHGLUHFWRUZKRVKDOOEHDSSRLQWHGE\WKH
3UHVLGHQW XSRQ WKH UHFRPPHQGDWLRQ RI WKH &RXQFLO +H6KH VKDOO KDYH WKH UDQN
SULYLOHJHVDQGHPROXPHQWVRID&DUHHU([HFXWLYH6HUYLFH2IILFHU,1RWKLQJKHUHLQVKDOO
SUHMXGLFHDQ\ULJKWYHVWHGSULRUWRWKHHQDFWPHQWRIWKLV$FW
7KHUHVKDOOEHFUHDWHGWZRSHUPDQHQWSRVLWLRQVRI'HSXW\([HFXWLYH'LUHFWRU
WREHDSSRLQWHGE\WKH&RXQFLORQHRIZKRPVKDOOEHH[FOXVLYHO\FRQFHUQHGZLWK(&&'
SURJUDPVDQGDFWLYLWLHVDQGWKHRWKHUH[FOXVLYHO\ZLWKWKHH[LVWLQJIXQFWLRQVRIWKH&:&
7KH'HSXW\([HFXWLYH'LUHFWRUVVKDOOEHDVVLVWHGE\VHQLRUWHFKQLFDOVWDIIWREHVHFRQGHG
IURPWKH'6:''(&6'2+',/*'2/('$'2-1('$DQG11&IRUDSHULRGRI
DW OHDVW WZR \HDUV VXEMHFW WR UHQHZDO DQG VKDOO EH HQWLWOHG WR ZKDWHYHU DGGLWLRQDO
UHPXQHUDWLRQWKHODZDOORZVIRUVXFKVHFRQGPHQW
)XQFWLRQVRIWKH1DWLRQDO(&&'&RRUGLQDWLQJ&RXQFLO7KH&RXQFLOVKDOO
L 3URPXOJDWH SROLFLHV DQG LPSOHPHQWLQJ JXLGHOLQHV IRU (&&' SURJUDPV LQ
FRQVXOWDWLRQ ZLWK VWDNHKROGHUV DW YDULRXV OHYHOV LQFOXGLQJ WKH UHJLRQDO OHYHO ZKHQ
DSSURSULDWHFRQVLVWHQWZLWKWKHQDWLRQDOSROLF\DQGSURJUDPIUDPHZRUNVVGHILQHGLQWKLV
$FW
LL(VWDEOLVK(&&'SURJUDPVWDQGDUGVWKDWUHIOHFWGHYHORSPHQWDOO\DSSURSULDWH
DQG FXOWXUDOO\ UHOHYDQW SUDFWLFHV IRU (&&' SURJUDPV ZKLFK VKDOO LQWHUIDFH ZLWK WKH
SULPDU\VFKRROFXUULFXOXPRIWKH'(&6
LLL 'HYHORS D QDWLRQDO V\VWHP IRU WKH UHFUXLWPHQW UHJLVWUDWLRQ FRQWLQXLQJ
HGXFDWLRQDQGHTXLYDOHQF\DQGFUHGHQWLDOV\VWHPRI(&&'VHUYLFHSURYLGHUVVXSHUYLVRUV
DQGDGPLQLVWUDWRUVWRLPSURYHDQGSURIHVVLRQDOL]HWKH(&&'VHFWRUDQGXSJUDGHTXDOLW\
VWDQGDUGVRISXEOLFDQGSULYDWH(&&'SURJUDPV
LY 'HYHORS DQG LPSOHPHQW D V\VWHP RI DZDUGV DQG UHFRJQLWLRQ WR GHVHUYLQJ
(&&'SURJUDPLPSOHPHQWRUVDQGVHUYLFHSURYLGHUV
Y&RRUGLQDWHWKHYDULRXV(&&'SURJUDPVRIHDFKOLQHDJHQF\DQGPRQLWRUWKH
GHOLYHU\RIVHUYLFHVWRWKH(&&'SURJUDPEHQHILFLDULHVQDWLRQZLGH
YL (YDOXDWH DQG DVVHVV WKH LPSDFW DQG RXWFRPH RI YDULRXV (&&' SURJUDPV
QDWLRQZLGHWKURXJKDQHIIHFWLYHLQIRUPDWLRQV\VWHP
YLL'HYHORSDQGHVWDEOLVKDQDWLRQDOV\VWHPIRUHDUO\LGHQWLILFDWLRQVFUHHQLQJ
VXUYHLOODQFHRIHDUO\FKLOGKRRGGLVDELOLWLHVGHYHORSPHQWDOSUREOHPVDQGJLIWHGQHVV
YLLL 'HYHORS DQG LPSOHPHQW YDULRXV VXSSRUW PHFKDQLVPV WKDW PD[LPL]H WKH
SXEOLF DQG SULYDWH UHVRXUFHV IRU LPSOHPHQWLQJ (&&' SURJUDPV JLYLQJ SULRULW\ WR WKH
QHHG\DQGKLJKULVNFKLOGUHQIURPSRRUFRPPXQLWLHV
5HSXEOLF$FW1R
SDJH
LY 3URYLGH FRXQWHUSDUW IXQGV WR SRRU DQG GLVDGYDQWDJHG FRPPXQLWLHV IRU WKH
HVWDEOLVKPHQW DQG H[SDQVLRQ RI SXEOLF (&&' SURJUDPV LPSURYHPHQW RI SK\VLFDO
IDFLOLWLHVDQGIRUKLULQJRI(&&'VHUYLFHSURYLGHUV
[ 3URPRWH DQG HQFRXUDJH SULYDWH VHFWRU LQLWLDWLYH IRU WKH HVWDEOLVKPHQW RI
(&&'SURJUDPVDQG
[L 3URYLGH JXLGHOLQHV IRU (&&' &RRUGLQDWLQJ &RPPLWWHH V DW WKH SURYLQFLDO
FLW\PXQLFLSDO DQG EDUDQJD\ OHYHOV IRU WKH FRQGXFW RI VROLFLWDWLRQV DQG UHTXHVWV IRU
DVVLVWDQFH IURP ORFDO DQG LQWHUQDWLRQDO FLYLF RUJDQL]DWLRQV SULYDWH SKLODQWKURSLF
IRXQGDWLRQVWRVXSSOHPHQWDYDLODEOHUHVRXUFHV
E 3URYLQFLDO (&&' &RRUGLQDWLQJ &RPPLWWHH &RPSRVLWLRQ )XQFWLRQV
6HFUHWDULDW7KHUHVKDOOEHFUHDWHGLQHYHU\SURYLQFHD3URYLQFLDO(&&'&RRUGLQDWLQJ
&RPPLWWHH
&RPSRVLWLRQ 7KH 3URYLQFLDO (&&' &RRUGLQDWLQJ &RPPLWWHH VKDOO EH
FRPSRVHG RI WKH *RYHUQRU RI WKH 3URYLQFH DV &KDLUSHUVRQ 'LYLVLRQ 6XSHULQWHQGHQW RI
'(&6 3URYLQFLDO 3ODQQLQJ DQG 'HYHORSPHQW 2IILFHU 3URYLQFLDO %XGJHW 2IILFHU
3URYLQFLDO +HDOWK 2IILFHU 3URYLQFLDO 'LUHFWRU RI ',/* 3URYLQFLDO 6RFLDO :HOIDUH DQG
'HYHORSPHQW 2IILFHU 3URYLQFLDO 7UHDVXUHU 3UHVLGHQW RI WKH 3URYLQFLDO /HDJXH RI
0XQLFLSDO 0D\RUV DQG WZR UHSUHVHQWDWLYHV RI QRQJRYHUQPHQW RUJDQL]DWLRQV
RSHUDWLQJ(&&'SURJUDPVDSSRLQWHGE\WKH&RPPLWWHHIRUDWZR\HDUWHUPVXEMHFWWR
RQHUHDSSRLQWPHQWDVPHPEHUV
)XQFWLRQV7KH3URYLQFLDO(&&'&RRUGLQDWLQJ&RPPLWWHHVKDOOEHXQGHUWKH
3URYLQFLDO 'HYHORSPHQW &RXQFLO DQG VKDOO SHUIRUP VLPLODU IXQFWLRQV DV WKH 1DWLRQDO
(&&' &RRUGLQDWLQJ &RXQFLO DV DSSURSULDWH LQFOXGLQJ RWKHU IXQFWLRQV WKDW PD\ EH
SURYLGHGLQWKH,PSOHPHQWLQJ5XOHVDQG5HJXODWLRQVRIWKLV$FW,WVKDOOFRRUGLQDWHWKH
GHOLYHU\RIVHUYLFHVDQGVXSSRUWIURPWKH1DWLRQDO(&&'&RRUGLQDWLQJ&RXQFLODQGWKH
QDWLRQDOOLQHDJHQFLHVLQYROYHGLQ(&&'SURJUDPV,WVKDOODOVRVXSSRUWDQGFRPSOHPHQW
WKHUHVRXUFHVDYDLODEOHWRPXQLFLSDOLWLHVDQGEDUDQJD\VLQWKHSURYLQFHLQWKHH[SDQVLRQ
DQG LPSURYHPHQW RI (&&' SURJUDPV DV ZHOO DV EH UHVSRQVLEOH IRU WKH UHJLVWUDWLRQ RI
(&&'SURJUDPVDQGVHUYLFHSURYLGHUVDQG
6HFUHWDULDW7KH3URYLQFLDO(&&'&RRUGLQDWLQJ&RPPLWWHHVKDOORUJDQL]HD
VHFUHWDULDW ZKLFK VKDOO FRRUGLQDWH DQG PRQLWRU WKH HIIHFWLYH LPSOHPHQWDWLRQ RI (&&'
SURJUDPVLQWKHSURYLQFH,WVKDOOEHKHDGHGE\WKHSURYLQFLDO(&&'2IILFHUZKRVKDOO
EH DSSRLQWHG E\ WKH *RYHUQRU XSRQ WKH UHFRPPHQGDWLRQ RI WKH 3URYLQFLDO (&&'
&RRUGLQDWLQJ &RPPLWWHH +H6KH VKDOO KDYH WKH UDQN SULYLOHJHV DQG HPROXPHQWV RI D
'HSDUWPHQWKHDG
)RU WKH ILUVW WKUHH \HDUV RI WKH HVWDEOLVKPHQW RI WKH (&&' V\VWHP LQ WKH
SURYLQFHWKHVDODU\DOORZDQFHVDQGRWKHUEHQHILWVRIWKH3URYLQFLDO(&&'2IILFHUVKDOO
EHSDLGIRUE\WKH&RXQFLO7KHUHDIWHUVXFKVXPVDVPD\EHQHFHVVDU\IRUWKHVDODULHV
5HSXEOLF$FW1R
SDJH
DOORZDQFHV DQG RWKHU EHQHILWV RI WKH 3URYLQFLDO (&&' 2IILFHU VKDOO EHSURYLGHGE\WKH
SURYLQFH
F &LW\0XQLFLSDO (&&' &RRUGLQDWLQJ &RPPLWWHH &RPSRVLWLRQ )XQFWLRQV
6HFUHWDULDW 7KHUH VKDOO EH FUHDWHG LQ HYHU\ FLW\ DQG PXQLFLSDOLW\ D &LW\0XQLFLSDO
(&&'&RRUGLQDWLQJ&RPPLWWHH
&RPSRVLWLRQ7KH&LW\0XQLFLSDO(&&'&RRUGLQDWLQJ&RPPLWWHHVKDOOEH
FRPSRVHG RI WKH &LW\0XQLFLSDO 0D\RU DV &KDLUSHUVRQ WKH 'LYLVLRQ
6XSHULQWHQGHQW'LVWULFW6XSHUYLVRURI'(&6&LW\0XQLFLSDO3ODQQLQJDQG'HYHORSPHQW
2IILFHU &LW\0XQLFLSDO %XGJHW 2IILFHU &LW\0XQLFLSDO +HDOWK 2IILFHU &LW\0XQLFLSDO
6RFLDO :HOIDUH DQG 'HYHORSPHQW 2IILFHU &LW\0XQLFLSDO /RFDO *RYHUQPHQW 2IILFHU
&LW\0XQLFLSDO7UHDVXUHU&LW\0XQLFLSDO1XWULWLRQ2IILFHU3UHVLGHQWRIWKH$VVRFLDWLRQ
RI %DUDQJD\ &DSWDLQV LQ WKH &LW\0XQLFLSDOLW\ 3UHVLGHQW RI WKH 3DUHQW7HDFKHUV
&RPPXQLW\ )HGHUDWLRQ LQ WKH &LW\0XQLFLSDOLW\ DQG WZR UHSUHVHQWDWLYHV RI QRQ
JRYHUQPHQW RUJDQL]DWLRQV LQYROYHG LQ (&&' SURJUDPV LQ WKH &LW\0XQLFLSDOLW\
DSSRLQWHG E\ WKH &RPPLWWHH IRU D WZR\HDU WHUP VXEMHFW WR RQH UHDSSRLQWPHQW DV
PHPEHUV
)XQFWLRQV 7KH &LW\0XQLFLSDO (&&' &RRUGLQDWLQJ &RPPLWWHH VKDOO EH
XQGHUWKHFLW\PXQLFLSDOGHYHORSPHQWFRXQFLODQGVKDOOSHUIRUPVLPLODUIXQFWLRQVDVWKH
FRXQFLO DV DSSURSULDWH LQFOXGLQJ RWKHU IXQFWLRQV WKDW PD\ EH SURYLGHG LQ WKH
,PSOHPHQWLQJ 5XOHV DQG 5HJXODWLRQV ,W VKDOO OLNHZLVH VXSSRUW DQG FRPSOHPHQW WKH
UHVRXUFHVDYDLODEOHWREDUDQJD\VLQWKHH[SDQVLRQDQGLPSURYHPHQWRI(&&'SURJUDPV
FRRUGLQDWH DQG PRQLWRU WKH GHOLYHU\ RI VHUYLFHV DW WKH EDUDQJD\ OHYHO HQVXUH DFFXUDWH
UHSRUWLQJ DQG GRFXPHQWDWLRQ RI VHUYLFH GHOLYHU\ DV ZHOO DV PRELOL]H DQG HQFRXUDJH
SULYDWH VHFWRU LQLWLDWLYHV IRU WKH HVWDEOLVKPHQW RI (&&' SURJUDP LPSOHPHQWRUV LQ WKH
FLW\PXQLFLSDOLW\WKDWFRQIRUPVWR1DWLRQDO(&&'6\VWHP6WDQGDUGV
6HFUHWDULDW 7KH &LW\0XQLFLSDO (&&' &RRUGLQDWLQJ &RPPLWWHH VKDOO
RUJDQL]HD6HFUHWDULDWZKLFKVKDOOFRRUGLQDWHDQGPRQLWRUWKHHIIHFWLYHLPSOHPHQWDWLRQRI
(&&' SURJUDPV LQ WKH FLW\PXQLFLSDOLW\ ,W VKDOO EH KHDGHG E\ WKH &LW\0XQLFLSDO
(&&' 2IILFHU ZKR VKDOO EH DSSRLQWHG E\ WKH PD\RU XSRQ WKH UHFRPPHQGDWLRQ RI WKH
&LW\0XQLFLSDO(&&'&RRUGLQDWLQJ&RPPLWWHH
G %DUDQJD\ (&&' &RRUGLQDWLQJ &RPPLWWHH 7KH %DUDQJD\ &RXQFLO IRU WKH
3URWHFWLRQRI&KLOGUHQ%&3&FUHDWHGXQGHU3UHVLGHQWLDO'HFUHHVKDOODOVRIXQFWLRQ
DVWKH%DUDQJD\(&&'&RRUGLQDWLQJ&RPPLWWHH7KH%&3&VKDOOEHUHVSRQVLEOHIRUWKH
SURSHU DQG HIIHFWLYH LPSOHPHQWDWLRQ RI SXEOLF (&&' SURJUDPV DQG PDLQWHQDQFH RI
GDWDEDVH V\VWHP DW WKH EDUDQJD\ OHYHO 3XUVXDQW WR WKLV DOO EDUDQJD\V VKDOO RUJDQL]H
%&3&VLQWKHLUUHVSHFWLYHDUHDV
7KH %&3& VKDOO EH FRPSRVHG RI DPRQJ RWKHUV 7KH %DUDQJD\ &DSWDLQ WKH
VFKRROKHDGVLQWKHEDUDQJD\WKH%DUDQJD\KHDOWKPLGZLIHWKH%DUDQJD\KHDOWKZRUNHU
WKH%DUDQJD\QXWULWLRQVFKRODUWKHGD\FDUHZRUNHUVSDUHQWVWKH6DQJJXQLDQJ.DEDWDDQ
&KDLUPDQ DQG D UHSUHVHQWDWLYH IURP FKLOGIRFXVHG QRQJRYHUQPHQW RUJDQL]DWLRQV
5HSXEOLF$FW1R
SDJH
SHRSOHVRUJDQL]DWLRQVDVPHPEHUV7KHPHPEHUVRIWKH%&3&VKDOOHOHFWIURPDPRQJ
WKHPVHOYHVWKH&KDLUSHUVRQ
6(&)LQDQFLQJ(&&'3URJUDPV(&&'SURJUDPVDWWKHFRPPXQLW\OHYHO
VKDOO EH ILQDQFHG WKURXJK D FRPELQDWLRQ RI SXEOLF DQG SULYDWH IXQV $OO SXEOLF (&&'
SURJUDPSURYLGHUVVKDOOSULRULWL]H\RXQJFKLOGUHQIURPIDPLOLHVZKRDUHLQJUHDWHVWQHHG
DQGZKRFDQOHDVWDIIRUGSULYDWHVHFWRUSURJUDPV
D 3XEOLF VXSSRUW IRU (&&' SURJUDPV 7KH JRYHUQPHQW VKDOOVXSSRUWSXEOLF
(&&' SURJUDPV WKURXJK FRVWVKDULQJ DUUDQJHPHQWV WKDW VKDOO LQYROYH WKH /*8V DQG
FRXQWHUSDUW IXQGV IURP WKH QDWLRQDO JRYHUQPHQW DJHQFLHV IRU WHFKQLFDO DVVLVWDQFH DQG
VXSSRUW$GGLWLRQDOIXQGVPD\EHJHQHUDWHGIURPLQWHUJRYHUQPHQWDOGRQRUVDQGILQDQFLDO
LQVWLWXWLRQV E\ WKH DSSURSULDWH JRYHUQPHQW DJHQFLHV WKURXJK WKH 1('$ WR VXSSRUW WKH
SXEOLF SURJUDPVLQIRXUWKILIWKDQGVL[WKFODVVPXQLFLSDOLWLHVLQFOXGLQJWKHXUEDQSRRU
)XQGVVKDOOEHDFFHVVLEOHWRTXDOLILHG/*8VWKURXJKWKH0XQLFLSDO'HYHORSPHQW)XQGRU
RWKHU ILQDQFLQJ PHFKDQLVPV DV SUHVFULEHG E\ WKH 'HSDUWPHQW RI )LQDQFH '2) DQG
EDVHG RQ JXLGHOLQHV IURP WKH 'HSDUWPHQW RI %XGJHW DQG 0DQDJHPHQW '%0 7KH
&RXQFLO PD\ HVWDEOLVK D WUXVW IXQG WR DVVLVW /*8V LQ WKH H[SDQVLRQ DQG XSJUDGLQJ RI
(&&'SURJUDPV
3ULPDU\ KHDOWK FDUH SURJUDPV SUHQDWDO DQG SRVWQDWDO FDUH JURZWK PRQLWRULQJ
DQG SURPRWLRQ DQG VXSSOHPHQWDU\ QXWULWLRQ SURJUDPV VKDOO FRQWLQXH WR EH IXQGHG
WKURXJKWKH/*8VZLWKWHFKQLFDOVXSSRUWDQGDGGLWLRQDOUHVRXUFHVIURPWKH'2+
7KH 'D\ &DUH 3URJUDP 3DUHQW (IIHFWLYHQHVV 6HUYLFH &KLOG0LQGLQJ &HQWHUV
)DPLO\'D\&DUHDQG3DUHQW&KLOG'HYHORSPHQW3URJUDPVVKDOOFRQWLQXHWREHVXSSRUWHG
E\ WKH /*8V LQ WKH IRUP RI FRQVWUXFWLRQ RI EDVLF LQIUDVWUXFWXUH SURYLVLRQ RI IDFLOLWLHV
PDWHULDOVDQGHTXLSPHQWDQGFRPSHQVDWLRQIRUWKHVHUYLFHSURYLGHUV7KH'6:'VKDOO
SURYLGHIRUWHFKQLFDODVVLVWDQFH
7KHNLQGHUJDUWHQSURJUDPLQSXEOLFVFKRROVVKDOOFRQWLQXHWREHVXSSRUWHGE\WKH
'(&6 LQ FRRSHUDWLRQ ZLWK WKH 37&$VZKHUHDSSOLFDEOHE\SURYLGLQJWHDFKHUWUDLQLQJ
VXSSOHPHQWDU\OHDUQLQJPDWHULDOVDQGUHIHUHQFHPDWHULDOVIRU(&&'SURJUDPV
7KH'6:''(&6'2+DQG',/*VKDOOVXSSRUWWKHLPSOHPHQWDWLRQE\/*8V
RI WKH 1DWLRQDO (&&' 3URJUDP DQG VKDOO LQFOXGH LQ WKHLU UHVSHFWLYH DQQXDO JHQHUDO
DSSURSULDWLRQVEHJLQQLQJWKHILVFDO\HDUIROORZLQJWKHDSSURYDORIWKLV$FWWKHQHFHVVDU\
IXQGLQJWRDFKLHYHWKHJRDORIQDWLRQDOFRYHUDJHZLWKLQDILYH\HDUSHULRGDQGVXVWDLQWKH
3URJUDP IURP WKHUHRQ 7KH ZRUN DQG ILQDQFLDO SODQ RI WKH '6:' '(&6 '2+ DQG
',/*VKDOOEHFRRUGLQDWHZLWKWKH&RXQFLO
E6XSSRUWIRU(&&'3URJUDPV6XSSRUWIRU(&&'SURJUDPVFDQEHVROLFLWHG
IURP ORFDO DQG LQWHUQDWLRQDO FLYLF RUJDQL]DWLRQ V SULYDWH SKLODQWKURSLF IRXQGDWLRQV WR
VXSSOHPHQWDYDLODEOHUHVRXUFHV
5HSXEOLF$FW1R
SDJH
:RUNSODFHEDVHGRUUHODWHG(&&'SURJUDPVVKRXOGEHVXSSRUWHGE\FRUSRUDWLRQV
DQG HPSOR\HUV LQ WKH IRUP RI SK\VLFDO IDFLOLWLHV DQG UHFXUUHQW RSHUDWLQJ FRVWV 7KH
RSHUDWLQJ FRVW LQFXUUHG IRU HPSOR\HU RU FRUSRUDWHVSRQVRUHG (&&' SURJUDPV FDQ EH
GHGXFWHG IURP WD[DEOH LQFRPH 3URYLGHG 7KDW WKH HPSOR\HU RU FRUSRUDWLRQ ZLOO QRW
FKDUJHXVHUIHHV
F &RVWV WR EH 6KRXOGHUHG E\ )DPLOLHV 7KH &RXQFLO VKDOO PRQLWRU XVHUV IHHV
DQG FRQWULEXWLRQV DOORZHGIRUERWKSXEOLFDQGSULYDWHSURJUDPVWRHQVXUHWKDWWKHVHDUH
DIIRUGDEOHDQGZLWKLQUHDVRQDEOHOLPLWV
8VHUIHHVIRUSXEOLFSURJUDPVVKRXOGEHOLPLWHGWRPRQWKO\FRQWULEXWLRQLQWHQGHG
WRVXEVLGL]HUHFXUUHQWFRVWV3DUHQWVDUHHQFRXUDJHGWRFRQWULEXWHWKHLUWLPHDQGVHUYLFHV
HVSHFLDOO\LQFDVHVZKHUHWKH\DUHXQDEOHWRDIIRUGWKHUHJXODUFRQWULEXWLRQV
6(& $SSURSULDWLRQV )RU WKH LPSOHPHQWDWLRQRIWKLV$FWWKHDPRXQWRI
)RXU KXQGUHG PLOOLRQ SHVRV 3 SHU \HDU IRU ILYH \HDUV LV KHUHE\
DSSURSULDWHGIRUWKH1DWLRQDO(&&'3URJUDPRIWKH&RXQFLOHIIHFWLYHXSRQDSSURYDORI
WKLV $FW 6DLG DPRXQW VKDOO EH IXQGHG IURP WKH JURVV LQFRPH RI WKH 3KLOLSSLQH
$PXVHPHQWDQG*DPLQJ&RUSRUDWLRQDQGVKDOOEHGLUHFWO\UHPLWWHGLQIRXUTXDUWHUO\
LQVWDOOPHQWV WR D VSHFLDO DFFRXQW RI WKH &RXQFLO 7KHUHDIWHU VXFK VXPV DV PD\ EH
QHFHVVDU\ IRU WKH RSHUDWLRQV RI WKH &RXQFLO VKDOO EH LQFOXGHG LQ WKH *HQHUDO
$SSURSULDWLRQV$FW
$ VXSSOHPHQWDU\ DSSURSULDWLRQV LQ WKH DPRXQW RI 7KLUW\ PLOOLRQ SHVRV
3 VKDOO EH SURYLGHG WR WKH &RXQFLO IURP WKH 3UHVLGHQWV 2UJDQL]DWLRQDO
$GMXVWPHQW)XQGXSRQDSSURYDORIWKLV$FW
7KHDERYHDSSURSULDWLRQVVKDOOEHVHSDUDWHDQGGLVWLQFWIURPWKHDQQXDOEXGJHWRI
WKH&:&
([SHQVHV IRU (&&' SURJUDPV DQG WHFKQLFDO VXSSRUW SDFNDJHV SURYLGHG E\ WKH
'6:''(&6'2+',/*'2/('$'2-1('$DQGWKH11&VKDOOEHVSHFLILHG
DV VHSDUDWH OLQH LWHPV LQ WKHLU UHVSHFWLYH DQQXDO EXGJHWV LQ WKH *HQHUDO $SSURSULDWLRQV
$FW 7KHLU DQQXDO (&&' ZRUNSODQV VKDOO EH WKH EDVLV IRU WKHVH EXGJHWV DQG VKDOO EH
UHOHDVHGGLUHFWO\WRWKHLUUHJLRQDORUSURYLQFLDORIILFHVZKHQHYHUDSSOLFDEOH
6(&$QQXDO5HSRUW 7KH &RXQFLO VKDOODWWKHFORVHRIHDFKFDOHQGDU\HDU
VXEPLW DQ DQQXDO UHSRUW WR &RQJUHVV JLYLQJ D GHWDLOHG DFFRXQW RI LWV SURFHHGLQJV DQG
DFFRPSOLVKPHQWV GXULQJ WKH \HDU DQG PDNLQJ UHFRPPHQGDWLRQV IRU WKH DGRSWLRQ RI
PHDVXUHVWKDWZLOOLPSURYHWKH1DWLRQDO(&&'6\VWHP
6(& 6HSDUDELOLW\ &ODXVH ,I DQ\ SURYLVLRQ RI WKLV $FW LV GHFODUHG
XQFRQVWLWXWLRQDO WKH VDPH VKDOO QRW DIIHFW WKH YDOLGLW\ DQG HIIHFWLYLW\ RI WKH RWKHU
SURYLVLRQVWKHUHRI
6(& 5HSHDOLQJ &ODXVH 3HUWLQHQW SURYLVLRQV RI 3UHVLGHQWLDO 'HFUHH 1R
DQG ([HFXWLYH 2UGHU 1R DOO ODZV GHFUHHV H[HFXWLYH RUGHUV SUHVLGHQWLDO
5HSXEOLF$FW1R
SDJH
SURFODPDWLRQVUXOHVDQGUHJXODWLRQVRUSDUWVWKHUHRIFRQWUDU\WRRULQFRQVLVWHQWZLWKWKH
SURYLVLRQVRIWKLV$FWDUHKHUHE\UHSHDOHGRUPRGLILHGDFFRUGLQJO\
6(& ,PSOHPHQWLQJ 5XOHV DQG 5HJXODWLRQV 7KH &RXQFLO LQ FRQVXOWDWLRQ
ZLWK DOO DSSURSULDWH JRYHUQPHQW DJHQFLHV DQG QRQJRYHUQPHQW RUJDQL]DWLRQV VKDOO
IRUPXODWH DQG LVVXH WKH QHFHVVDU\ UXOHV DQG UHJXODWLRQV IRU WKH LPSOHPHQWDWLRQ RI WKLV
$FWZLWKLQQLQHW\GD\VDIWHUWKHHIIHFWLYLW\RIWKLV$FW
6(&(IIHFWLYLW\&ODXVH 7KLV $FWVKDOOWDNHHIIHFWILIWHHQGD\VDIWHULWV
SXEOLFDWLRQLQWKH2IILFLDO*D]HWWHRU LQDWOHDVWWZRQHZVSDSHUVRIJHQHUDOFLUFXODWLRQ
$SSURYHG
6JG0$18(/%9,//$5-5
6SHDNHURIWKH+RXVH
RI5HSUHVHQWDWLYHV
6JG)5$1./,10'5,/21
3UHVLGHQWRIWKH6HQDWH
7KLV $FW ZKLFK LV D FRQVROLGDWLRQ RI 6HQDWH %LOO 1R DQG +RXVH %LOO 1R
ZDV ILQDOO\ SDVVHG E\ WKH 6HQDWH DQG +RXVH RI 5HSUHVHQWDWLYHV RQ 2FWREHU
DQG2FWREHUUHVSHFWLYHO\
6JG26&$5*<$%(6
6HFUHWDU\RIWKH6HQDWH
6JG52%(57231$=$5(12
6HFUHWDU\*HQHUDO
+RXVHRI5HSUHVHQWDWLYHV
$SSURYHG'HFHPEHU
6JG-26(3+((675$'$
3UHVLGHQWRIWKH3KLOLSSLQHV
5HSXEOLF$FW1R
SDJH