• Non ci sono risultati.

'895,

N/A
N/A
Info
Scarica
Protected

Academic year: 2021

Condividi "'895,"

Copied!
23
0
0

Caricamento.... (Visualizza il testo completo ora)

Scarica adesso ( 23 pagine )

Testo completo

(1)&RPXQHGL7ULHVWH  $UHDVHUYL]LILQDQ]LDULWULEXWL HSDUWHFLSD]LRQLVRFLHWDULH  . 6HUYL]LHFRQRPDOLH SURYYHGLWRUDWR.  '895,. .  )DVFLFROR'895,SURW, .  'RFXPHQWR GL YDOXWD]LRQH GHL ULVFKL LQWHUIHUHQ]LDOL UHGDWWR DL VHQVL GHOO·DUW   '/JVDSULOHQHVPLSHUOHDWWLYLWjODYRUDWLYHSUHYLVWHQHOO·DIILGDPHQWR GHLVHUYL]LGLIDFFKLQDJJLRWHFQLFRHWUDVSRUWR SURW,

(2)    35(0(66$  ,OSUHVHQWHSLDQRLOOXVWUDLSRVVLELOLULVFKLGLDPELHQWHHLQWHUIHUHQ]LDOLHOHUHODWLYHPLVXUHFRUUHW WLYHQHOOHDWWLYLWjSUHYLVWHQHOO·DIILGDPHQWRLQDSSDOWRSHULVHUYL]LGLIDFFKLQDJJLRWHFQLFRHWUDVSRU WRSHUFRQWRGHO&RPXQHGL7ULHVWHSHULOSHULRGR PHVL

(3) SLSUHFLVDPHQWHLOOXVWUDL SRVVLELOLULVFKLLQWHUIHUHQ]LDOLQHOOHYDULHIDVLGHOO·DSSDOWR  1RQGjLQYHFHXQDYDOXWD]LRQHDLPHGHVLPLLQWHVDQHOVHQVROHWWHUDOHGLDWWULEXLUHXQD´PDJQLWX GRµDOULVFKLRSHUXQDVHULHGLPRWLYLFKHGLVHJXLWRVLLOOXVWUDQR  ,QSULPLVLOGRFXPHQWRSUHYLVWRGDOO·DUWGHO'/JVQRQqLOGRFXPHQWRGLYDOXWD]LRQHGHO ULVFKLRSUHYLVWRGDOO·DUWGHOORVWHVVRGHFUHWR4XHVWRVHFRQGRLQIDWWLYLHQHUHGDWWRDOILQHGLH ODERUDUHXQFRQVHJXHQWHSLDQRGLPLJOLRUDPHQWRODFXLDWWXD]LRQHSXzHVVHUH´VSDOPDWDµQHOWHP SRSURSULRLQUHOD]LRQHDOODPDJJLRURPLQRUHJUDQGH]]DGHOULVFKLRGDQGRRYYLDPHQWHODSUHFH GHQ]DDTXHOOLGLPDJJLRUSHVRSLXWWRVWRFKHDTXHOOLGLPLQRUULOHYDQ]D,OSULPRLQYHFHKDORVFRSR GL SRUWDUH D FRQRVFHQ]D GHOOH SDUWL FRQWUDHQWL HGL WHU]L LQWHUHVVDWL UHFWLXV GHO SHUVRQDOH GL WXWWL FRVWRUR

(4) LULVFKLFRQQHVVLFRQO·HVHFX]LRQHGHOO·DSSDOWRPHGHVLPRHGLDOWULDSSDOWLFKHVLSRVVRQR VYROJHUHQHJOLVWHVVLDPELHQWLHOHUHODWLYHPLVXUHPLJOLRUDWLYHQHOO·RWWLFDGHOFRRUGLQDPHQWRHGHO ODFRRSHUD]LRQHWUDOHYDULHLPSUHVHSUHVHQWL3HUGHTXLQGLGLVLJQLILFDWRLOULIHULPHQWRDOOD´PDJQL WXGRµGHOULVFKLRLQTXDQWRYDQQRFRPXQTXHDWWXDWHVLQGDOO·LQL]LRGHOO·HVHFX]LRQHGHOO·DSSDOWRWXW WHOHPLVXUHWHFQLFKHHGRUJDQL]]DWLYHLQGLSHQGHQWHPHQWHGDOO·LPSRUWDQ]DGHOULVFKLRFKHVLSUHILJ JRQRGLHOLPLQDUHRULGXUUH6DUjFXUDLQSUDWLFDTXRWLGLDQDGLFKLJHVWLVFHHGLFKLHVHJXHO·DSSDOWR GHWWDUHOHSULRULWjG·LQWHUYHQWRDVHFRQGDGHOOHFLUFRVWDQ]HGLOXRJRHGLIDWWRYLDYLDHPHUJHQWL  ,Q VHFRQGR OXRJR YL q XQD FHUWD LPSRVVLELOLWj WHFQLFD GL DVVRFLDUH DL YDUL ULVFKL XQD TXDOVLYRJOLD JUDQGH]]D DQFKH GL WLSR VRJJHWWLYR QRQ HVVHQGR FRQRVFLXWL Qp O·DJJLXGLFDWDULR Qp WDQWRPHQR OD VXDRUJDQL]]D]LRQHG·LPSUHVDHLUHODWLYLPDFFKLQDULDSSDUHFFKLDWXUHH DWWUH]]DWXUHFKHORVWHVVR XWLOL]]HUjQHOO·HVHFX]LRQHGHOO·DSSDOWR4XDQG·DQFKHLOFRPPLWWHQWH²SHUDYHUGLUHWWDPHQWHHVHUFL WDWRLQSUHFHGHQ]DOHDWWLYLWjRUDDSSDOWDWH²IRVVHDFRQRVFHQ]DHDYHVVHYDOXWDWRTXDQWLILFDQGROLL UHODWLYLULVFKLTXHVWLHOHPHQWLVDUHEEHURGLVFDUVDXWLOLWjLQTXDQWRLQPDVVLPDSDUWHUHODWLYLDULVFKL RUDGLYHQXWLVSHFLILFLGHOO·DWWLYLWjDSSDOWDWDHQRQWDQWRDULVFKLG·DPELHQWHRDULVFKLLQWHUIHUHQ]LDOL  3HUTXHVWLPRWLYLYLVWHOHILQDOLWjGHOODQRUPDGLFXLDOO·DUWFLWDWRVLqSUHIHULWROLPLWDUVLDLOOXVWUD UHLSRVVLELOLULVFKLSLXWWRVWRFKHGDUQHXQDTXDQWLILFD]LRQH²QHDQFKHQHLVROLWHUPLQLGLPDJJLRUH.

(5) RPLQRUHSUREDELOLWjGLDFFDGLPHQWR²FKHROWUHFKHDOHDWRULDDYUHEEHSRWXWRIDFLOPHQWHLQJHQH UDUHFRQIXVLRQHRDQVLHWjQHLVRJJHWWLLQWHUHVVDWL  6L WUDWWD LQROWUH GL DWWLYLWj FKH YLHQH VYROWD DQFKH DOO·HVWHUQR GHL OXRJKL GL ODYRUR GHOO·$PPLQLVWUD]LRQHFRPXQDOHQHOODVSHFLHSUHVVR6FXROH6WDWDOLH8IILFLJLXGL]LDULHSHUWDQWRQRQ D GLUHWWR FRQWDWWR FRQ ODYRUDWRUL R DSSDOWDWRUL GHO FRPPLWWHQWHPD FRPXQTXH FRPSRUWDQWH H YHQWXDOL

(6) LQWHUIHUHQ]HSHUOHTXDOLO·$PPQH&RPXQDOHQRQSXzHVHUFLWDUHGLIDWWRXQ·D]LRQHGLD GHJXDPHQWRRPLJOLRUDPHQWRSUHYHQWLYRPDVRORXQ·DWWLYLWjGLFRRUGLQDPHQWRFRQLOGDWRUHGLOD YRURGHOOXRJRRYHVLVYROJHUjPDWHULDOPHQWHODIRUQLWXUDRLOVHUYL]LR,QSURSRVLWRJLjODFLUFROD UHLQWHUSUHWDWLYDGHO0LQLVWHURGHO/DYRURHGHOOD3UHYLGHQ]DVRFLDOHQƒGHOQRYHPEUH ULSUHVD H FRQIHUPDWD GDOOD 'HWHUPLQD]LRQH Qƒ  GHOO·$XWRULWj SHU OD 9LJLODQ]D VXL &RQWUDWWL 3XEEOLFLHVFOXGHYDGDOODYDOXWD]LRQHGHLULVFKLGDLQWHUIHUHQ]DOHDWWLYLWjFKHSXUHVVHQGRSDUWHGHO FLFOR SURGXWWLYR D]LHQGDOH VL VYROJHYDQR LQ OXRJKL VRWWUDWWL DOOD JLXULGLFD GLVSRQLELOLWj GHO FRPPLW WHQWHHTXLQGLDOODSRVVLELOLWjSHUOD6WD]LRQH$SSDOWDQWHGLVYROJHUHQHLPHGHVLPLOXRJKLWXWWLJOL DGHPSLPHQWLDGHJXDPHQWLGLOHJJH  $PDJJLRUUDJLRQHRUDFKHDVHJXLWRGHOO·LQWURGX]LRQHGHOFRPPDWHUQHOO·DUWLQ SDURODRSHUDWDGDOO·DUWGHO'/JVLOFRPPLWWHQWHKDO·RQHUHGLUHGLJHUHXQ GRFXPHQWR UHFDQWH XQD PHUD ´YDOXWD]LRQH ULFRJQLWLYD GHL ULVFKL VWDQGDUGµ PHQWUH VSHWWDDOGDWRUHGLODYRURSUHVVRLOTXDOHDYUjHVHFX]LRQHLOFRQWUDWWRLQWHJUDUHGHWWR GRFXPHQWR´ULIHUHQGRORDLULVFKLVSHFLILFL«SUHVHQWLQHLOXRJKLLQFXLYHUUjHVSOHWDWR O·DSSDOWRµ  $WDOILQHVRQRVWDWHSUHGLVSRVWHDOFXQHVFKHGHLQIRUPDWLYHGLFRRUGLQDPHQWR FIU$OOHJDWL$H%

(7)  FKH YHUUDQQR FRPSOHWDWH ULVSHWWLYDPHQWH GDO UHVSRQVDELOH GHJOL 8IILFL JLXGL]LDUL R GHOOD VWUXWWXUD VFRODVWLFDVWDWDOHGDOO·DSSDOWDWRUHHGDOFRPPLWWHQWH²RJQXQRSHUODSDUWHGLSURSULDSHUWLQHQ]D² FKHLQWHJUHUjLOSUHVHQWHGRFXPHQWRFRQO·LQGLFD]LRQHGLHYHQWXDOLULVFKLVSHFLILFLSUHVHQWLLQTXHOOH VHGLUHODWLYHPLVXUHGLVLFXUH]]DHGHYHQWXDOHLQWHJUD]LRQHGLXOWHULRULRQHULSHUODVLFXUH]]DGDUL FRQRVFHUHDOO·DSSDOWDWRUHROWUHDTXHOOLLQGLFDWLDOSWRGHOSUHVHQWHGRFXPHQWR  3HUWDQWR LO SUHVHQWH GRFXPHQWR UDSSUHVHQWD LO GRFXPHQWR SUHYLVWR GDOO·DUW  FRPPD  GHO '/JV  H VPL SHU OH DWWLYLWj DSSDOWDWH FKH VL VYROJHUDQQR LQ OXRJKL GL ODYRUR GHOO·$PPLQLVWUD]LRQH FRPXQDOH OLPLWDWDPHQWH DL OXRJKL GL ODYRUR QRQ D JHVWLRQH FRPXQDOH FKH XVXIUXLUDQQRGHOVHUYL]LRO·HODERUDWRGHYHLQWHQGHUVLFRPHXQDYDOXWD]LRQHULFRJQLWLYDGHLULVFKLLQ WHUIHUHQ]LDOL VWDQGDUG FKH SRWUHEEH SRWHQ]LDOPHQWH GHULYDUH GDOO·HVHFX]LRQH GHO FRQWUDWWR H FKH YHUUjLQWHJUDWRFRQOHVFKHGHLQIRUPDWLYHGLFXLVRSUD   &217(187,  ,OSUHVHQWHGRFXPHQWRGLYDOXWD]LRQHGHOULVFKLRFRPSUHQGH  2UJDQLJUDPPD D]LHQGDOH GHOOD VLFXUH]]D GHOO·$UHD VHUYL]L ILQDQ]LDUL WULEXWL H SDUWHFLSD]LRQL VRFLHWDULHTXDOHFRPPLWWHQWHGHOSUHVHQWHDSSDOWR  'HVFUL]LRQHVLQWHWLFDGHOOHVWUXWWXUHLQFXLVLVYROJHUDQQROHDWWLYLWjDSSDOWDWH  'HVFUL]LRQHVLQWHWLFDGHOOHDWWLYLWjGHOO·DSSDOWDQWHRGLWHU]LHGHLULVFKLLQGRWWLVXOSHUVRQDOH GHOO·DJJLXGLFDWDULR  'HVFUL]LRQH VLQWHWLFD GHOOH DWWLYLWj GHOO·DJJLXGLFDWDULR H GHL ULVFKL LQGRWWL VXO SHUVRQDOH GHOO·DSSDOWDQWHRVXWHU]L  0LVXUHGLFRRUGLQDPHQWRHGLVLFXUH]]DGDDGRWWDUHQHOO·HVHFX]LRQHGHOSUHVHQWHDSSDOWR  2QHULSHUODVLFXUH]]DULFRQRVFLXWLDOO·DJJLXGLFDWDULR  $OOHJDWL $6FKHGDLQIRUPDWLYDVXOODVWUXWWXUDDLILQLGLFRRUGLQDPHQWRHGLVLFXUH]]DSHUDSSDOWLGLIRU QLWXUHGLEHQLHVHUYL]L.

(8) %6FKHGDLQIRUPDWLYDVXOODVWUXWWXUDVFRODVWLFDVWDWDOHDLILQLGLFRRUGLQDPHQWRHGLVLFXUH]]D SHUDSSDOWLGLIRUQLWXUHGLEHQLHVHUYL]L    25*$1,*5$00$ $=,(1'$/( '(//$ 6,&85(==$ '(//·$5($ 5,6256( (&2120,&+(  ),1$1=,$5,( ( ', 69,/8332 (&2120,&2 '(/ &2081( ',75,(67(  ,1&$5,&267587785$ *HVWRUHGHOO·DSSDOWRHGLUHWWRUHGLDUHD $UHDVHUYL]LILQDQ]LDULWULEXWLHSDUWHFLSD]LRQLVRFLHWDULH 5HVSRQVDELOHGL32 6HUYL]LHFRQRPDOLHSURYYHGLWRUDWR  5HIHUHQWHFRPXQDOHSHUO·DSSDOWR 6HUYL]LHFRQRPDOLHSURYYHGLWRUDWR. '$7,3(5621$/, 9LQFHQ]R'L0DJJLR  )DELR%HQROOL . 5HVSRQVDELOH6HUYL]LRFHQWUDOHGLSUHYHQ]LRQHHSURWH]LRQHGHO &RPXQHGL7ULHVWH. /LYLR6LYLORWWR . 0DULR&RYD .    '(6&5,=,21(6,17(7,&$'(//(67587785(,1&8,6,692/*(5$112/( $77,9,7­$33$/7$7(  /·LQGLFD]LRQHGHLOXRJKLLQWHUHVVDWLDOOHRSHUD]LRQLDSSDOWDWHqFRQWHQXWDQHOO·DOOHJDWRDO&DSLWRODWR VSHFLDOHG·DSSDOWR /DGHVFUL]LRQHVLQWHWLFD²DLILQLGHOODVLFXUH]]DGHOORVWDWRGHLOXRJKLLQWHUHVVDWLDGHWWHRSHUD]LRQL YHUUjIRUQLWDSULPDGHOO·LQL]LRGHOODVLQJRODRSHUD]LRQHGLIDFFKLQDJJLRHWUDVSRUWRLQTXDQWRWUDLO PRPHQWRGLUHGD]LRQHGHOSUHVHQWHGRFXPHQWRHLOPRPHQWRHVHFXWLYRSRWUHEEHURHVVHUPHVVL LQDWWRLQWHUYHQWLPDQXWHQWLYLHPLJOLRUDWLYLRSRWUDQQRLQVRUJHUHVLWXD]LRQLDOPRPHQWRQRQSUH YHGLELOL    '(6&5,=,21(6,17(7,&$'(//($77,9,7­'(//·$33$/7$17(2',7(5=, ('(,5,6&+,,1'277,68/3(5621$/('(//·$**,8',&$7$5,2  $77,9,7­692/7(1(*/,$0%,(17,',/$9252(/2523(57,1(1=(  $77,9,7­$%,78$/, 'DWH OH GLYHUVHWLSRORJLH GL DWWLYLWj FKH YHQJRQRHIIHWWXDWH QHOOH VWUXWWXUH GL SURSULHWj HR SHUWL QHQ]DGHOO·HQWHROXRJKLGLWHU]LHOHGLYHUVHHQWLWjGDWRULDOLDFXLHVVHDIIHULVFRQRVLGHVFULYRQRLQ PDQLHUDIXQ]LRQDOHGHFOLQDQGRSHUHQWLWjGDWRULDOHHVWUXWWXUDOHDWWLYLWjDELWXDOLULFRUGDQGRFKHOH VXGGLYLVLRQLVRQRSXUDPHQWHLQGLFDWLYHHFRPSUHQVLYHGLWXWWLLVHUYL]LFKHO·HQWHHVSOLFDVLDDOLYHOOR LQWHUQRFKHQHLFRQIURQWLGHOOHLVWLWX]LRQLHGRSHUDWRULHVWHUQL6WUXWWXUHFRQSUHVHQ]DGLSXEEOLFR QHJOLRUDULGLDSHUWXUD  2UJDQL]]D]LRQHGHOOHVWUXWWXUHLQWHUHVVDWH  3URSULHWj (QWLWjGDWRULDOH $WWLYLWj &RPXQHGL7ULHVWH &RPXQHGL7ULHVWH WXWWHOHVWUXWWX 6HUYL]L IRUQLWL GDOO·HQWH ORFDOH ² UH GL SURSULHWj HR SHUWLQHQ]D 3UHOLHYR GHSRVLWR H LPPDJD]]L GHOO·(QWH

(9)  QDPHQWRFROORFD]LRQHPHUFL² &RPXQHGL7ULHVWH 6FXROH3ULPDULH6WDWDOL (GXFDWLYD.

(10)  $77,9,7­2&&$6,21$/, $WWLYLWj D VSRW GL SLFFROD H RUGLQDULD PDQXWHQ]LRQH GD SDUWH GL HQWL R LPSUHVH WHU]H VYROWH R VX FKLDPDWDRGDVFDGHQ]DGLSHULRGLFLWj  5,6&+,&216(*8(17, 5,6&+,'(5,9$17,'$//·$0%,(17( - &DGXWHLQSLDQR OXQJRLSHUFRUVLDOO·DSHUWRHDOFRSHUWRQHOOHVWUXWWXUH

(11)  - &DGXWHGDVFDOHDJUDGLQLHUDPSH OXQJRLSHUFRUVLDOO·DSHUWRHDOFRSHUWRQHOOHVWUXWWXUH

(12)  - 8UWLFRQWURDUUHGLHVLPLOL SUHVHQ]DGLDUUHGLDQFKHDGDOWH]]DGLEDPELQRVHUUDPHQWLYH WUDWL

(13)   5,6&+,'(5,9$17,'$//($77,9,7­ - ,QFLDPSLVXPDWHULDOLRDWWUH]]DWXUH SHUFRUVLLQJRPEULRODYRULGLPDQXWHQ]LRQH

(14)  - 8UWLGDPRYLPHQWLVFRRUGLQDWLRLQYRORQWDULGLSHUVRQHSUHVHQWLQHLYDULDPELHQWLLQWHUHVVD WL FRPSUHVHQ]D

(15)  - ,QDOD]LRQHGDDJHQWLFKLPLFL GHWHUVLYLGHWHUJHQWLHVLPLOLXWLOL]]DWLQHOOHRSHUD]LRQLGLSXOL]LD VHFRQWHPSRUDQHH

(16)  - ,QFHQGLRHVSORVLRQH GDSUHSDUD]LRQHFLELHVLPLOLJXDVWLDLPSLDQWLWHFQRORJLFL

(17)  - &DGXWHGLRJJHWWLGDOO·DOWR GDPRELOLPHQVROHHVLPLOLRDFDXVDGLODYRULGLPDQXWHQ]LRQH

(18)   1%,VXGGHWWLULVFKLSHUJOLDPELHQWLQRQJHVWLWLGLUHWWDPHQWHGDO&RPXQHGL7ULHVWHVRQRGDULWH QHUVLFRPHULVFKLVWDQGDUG    '(6&5,=,21( 6,17(7,&$ '(//( $77,9,7­ '(//·$**,8',&$7$5,2 ( '(, 5,6&+,,1'277,68/3(5621$/('(//·$33$/7$17(2687(5=, . $77,9,7­692/7(1(*/,$0%,(17,',/$9252(/2523(57,1(1=( 3UHOLHYRHGHYHQWXDOHVPRQWDJJLRGHOPDWHULDOHGDOOXRJRLQGLFDWRFDULFRVXDXWRPH]]LHFRQVHJQD PDWHULDOHHGHYHQWXDOHDVVHPEODJJLRQHOOHVHGLLQGLFDWHLYLFRPSUHVHOHRSHUD]LRQLGLVFDULFRGHOOH VWHVVHGDDXWRPH]]RHWUDVSRUWRVLQRDLORFDOLGLGHSRVLWRSURYYLVRULRGHJOLVWHVVLHVHJXLWRFRQH YHQWXDOHXWLOL]]RGLFDUUHOOLDPDQRSHUFDVVHHSDFFKLRFDUUHOOLVDOLVFDOHPDQXDOLqFRPXQTXHYLH WDWR O·XVR GL WUDQVSDOOHWW PDQXDOL R HOHWWULFL QHJOL VSD]L FRSHUWL GHOOH VWUXWWXUH VH QRQ SUHYHQWLYD PHQWHDXWRUL]]DWLGDOSHUVRQDOHFRPXQDOHGLFRQWUROORGHOSUHVHQWHDSSDOWR  5,6&+,&216(*8(17, - 8UWLFRQWURSHUVRQHGDPRYLPHQWLVFRRUGLQDWLRLQYRORQWDULGHJOLDGGHWWLGHOO·DJJLXGLFDWDULR DGHWWHRSHUD]LRQL - ,QYHVWLPHQWRGDDXWRPH]]R VHO·DXWRPH]]RGLWUDVSRUWRHQWUDQHOOHVWUXWWXUHSHUOHRSH UD]LRQLGLSUHOLHYRFRQVHJQD

(19)  - $IIHUUDPHQWR VFKLDFFLDPHQWR H VLPLOL GD DFFHVVRUL GHOO·DXWRPH]]R DG HVHPSLR UDPSH H SHGDQHPRELOL

(20)  - &DGXWDGLRJJHWWL FROOLGLGLYHUVDQDWXUDGLPDWHULDOHQHOOHIDVLGLVFDULFRHWUDVSRUWR

(21)  - ,QYHVWLPHQWRGDPRYLPHQWD]LRQHGHLPDWHULDOL FRQFDUUHOORWUDQVSDOOHWHVLPLOL

(22)     0,685( ', &225',1$0(172 ( ', 6,&85(==$ '$ $'277$5( 1(//·(6(&8=,21('(/35(6(17($33$/72   35(0(66$.

(23) 6L LQIRUPD VLQ GD RUD FKH SUHVVR OH VWUXWWXUH DPELHQWL H OXRJKL GL ODYRUR

(24)  FRPXQDOL LQ FXL VL VYROJHUjLOSUHVHQWHDSSDOWRVRQRLQYLJRUHLVHJXHQWLGLYLHWLHGREEOLJKLSHULOSHUVRQDOHGHOOH GLWWHDSSDOWDWULFLIRUQLWULFLRSHUFKLGDHVVHLQFDULFDWR • GLYLHWRGLLQWHUYHQLUHVXOOHDWWLYLWjRVXOOHODYRUD]LRQLLQHVVHUHSUHVVROHVWUXWWXUHLQWH UHVVDWH • GLYLHWRGLXWLOL]]RGLPDFFKLQDULDWWUH]]DWXUHHRRSHUHSURYYLVLRQDOLGLSURSULHWjGHOOH VWUXWWXUH LQWHUHVVDWH HYHQWXDOL XWLOL]]L VRQR GD FRQVLGHUDUVL D FDUDWWHUH HFFH]LRQDOH H GRYUDQQRHVVHUHDXWRUL]]DWLGLYROWDLQYROWDGDO5HVSRQVDELOHGHOODVWUXWWXUD • GLYLHWRGLDFFHGHUHDLORFDOLDGDFFHVVROLPLWDWRRD]RQHGLYHUVHGDTXHOOHLQWHUHVVDWHDL ODYRULVHQRQVSHFLILFDWDPHQWHDXWRUL]]DWLGDO5HVSRQVDELOHGHOODVWUXWWXUDFRQDSSRVLWR SHUPHVVR • GLYLHWRGLLQJRPEUDUHSDVVDJJLFRUULGRLHXVFLWHGLVLFXUH]]DFRQPDWHULDOLPDFFKLQHHG DWWUH]]DWXUHGLTXDOVLDVLQDWXUD • GLYLHWR GL LQWURGXUUH VRVWDQ]H LQILDPPDELOL R FRPXQTXH SHULFRORVH R QRFLYH VH QRQ SUHYHQWLYDPHQWHFRQFRUGDWRFRQLO5HVSRQVDELOHGHOODVWUXWWXUD • GLYLHWR GL FRPSLHUH ODYRUL GL VDOGDWXUD XVDUH ILDPPH OLEHUH XWLOL]]DUHPH]]L LJQLIRULR IXPDUHLQSDUWLFRODUHQHLOXRJKLFRQSHULFRORGLLQFHQGLRRGLVFRSSLRQRQFKpLQWXWWL JOLDOWULOXRJKLRYHYLJHDSSRVLWRGLYLHWRLODYRULDILDPPDVRQRVRJJHWWLDSUHYHQWLYDDX WRUL]]D]LRQHGHO5HVSRQVDELOHGHOODVWUXWWXUDVHQWLWRVHGHOFDVRLOUHIHUHQWHORFDOHSHU OD6LFXUH]]D • GLYLHWRGLULPXRYHUHRPDQRPHWWHUHLQXQDOFXQPRGRLGLVSRVLWLYLGLVLFXUH]]DHRSUR WH]LRQH LQVWDOODWL VX LPSLDQWLPDFFKLQHR DWWUH]]DWXUH VH QRQ VWUHWWDPHQWHQHFHVVDULR SHU O·HVHFX]LRQH GHO ODYRUR QHO TXDO FDVR GHYRQR HVVHUH DGRWWDWH PLVXUH GL VLFXUH]]D DOWHUQDWLYHDFXUDGHOO·DJJLXGLFDWDULDH DWXWHODGHOSHUVRQDOHSUHVHQWHLQVWUXWWXUDHGL TXHOORGHOO·DJJLXGLFDWDULDVWHVVD • GLYLHWR²VLDSHULOSHUVRQDOHGHOODVWUXWWXUDFKHSHUTXHOORGHOO·DJJLXGLFDWDULDGLFRP SLHUHGLSURSULDLQL]LDWLYDPDQRYUHHGRSHUD]LRQLFKHQRQVLDQRGLSURSULDFRPSHWHQ]D HFKHSRVVRQRSHUFLzFRPSURPHWWHUHODVLFXUH]]DDQFKHGLDOWUHSHUVRQH • GLYLHWR²VLDSHULOSHUVRQDOHGHOODVWUXWWXUDFKHSHUTXHOORGHOO·DJJLXGLFDWDULDGLFRP SLHUHTXDOVLDVLRSHUD]LRQH SXOL]LDOXEULILFD]LRQLULSDUD]LRQLUHJLVWUD]LRQLHFF

(25) VXRUJD QLLQPRWRRVXLPSLDQWLLQIXQ]LRQHTXDORUDVWUHWWDPHQWHQHFHVVDULRSHUO·HVHFX]LRQH GHO ODYRUR GRYUDQQR HVVHUH DGRWWDWH PLVXUH GL VLFXUH]]D DOWHUQDWLYH D FXUD GHOO·DJJLXGLFDWDULD H D WXWHOD GHO SHUVRQDOH GHOOD VWUXWWXUD H GL TXHOOR GHOO·DJJLXGLFDWDULD VWHVVD • GLYLHWRGLXVDUHVXOOXRJRGLODYRURLQGXPHQWLRDEELJOLDPHQWRFKHLQUHOD]LRQHDOODQD WXUDGHOOHRSHUD]LRQLGDVYROJHUHSRVVDQRFRVWLWXLUHSHULFRORSHUFKLOLLQGRVVD • REEOLJRGLFRQFRUGDUHFRQLO5HVSRQVDELOHGHOODVWUXWWXUDJOLRUDULSHUO·HVHFX]LRQHGHJOL LQWHUYHQWLODYRULHGLQRQWUDWWHQHUVLQHJOLDPELHQWLGLODYRURDOGLIXRULGHOO·RUDULRFRQ FRUGDWR • REEOLJR GL DWWHQHUVL VFUXSRORVDPHQWH D WXWWH OH LQGLFD]LRQL VHJQDOHWLFKH FRQWHQXWH QHL FDUWHOOLLQGLFDWRULHQHJOLDYYLVLSUHVHQWLQHOOHVWUXWWXUH • REEOLJR GL LQIRUPDUHULFKLHGHUH O·LQWHUYHQWR GHO 5HVSRQVDELOH GHOOD VWUXWWXUD LQ FDVR GL DQRPDOLHULVFRQWUDWHQHOO·DPELHQWHGLODYRURHSULPDGLSURFHGHUHFRQLQWHUYHQWLLQOXR JKLFRQSUHVHQ]DGLULVFKL • REEOLJRGLLPSLHJDUHPDFFKLQHDWWUH]]LHGXWHQVLOLULVSRQGHQWLDOOHYLJHQWLQRUPHGLOHJ JHHGLQFRQIRUPLWjDOOHVWHVVHHDOOHLVWUX]LRQLGLXWLOL]]RGHOFRVWUXWWRUH.

(26) • REEOLJR GL VHJQDODUH LPPHGLDWDPHQWH HYHQWXDOL GHILFLHQ]H GL GLVSRVLWLYL GL VLFXUH]]D R O HVLVWHQ]DGLFRQGL]LRQLGLSHULFRORRGLHPHUJHQ]D DGRSHUDQGRVLGLUHWWDPHQWHPDVR ORLQFDVRGLXUJHQ]DHQHOO DPELWRGHOOHSURSULHFRPSHWHQ]HHSRVVLELOLWjSHUO HOLPLQD ]LRQHGLGHWWHGHILFLHQ]HRSHULFROL

(27)  • REEOLJRGLSUHQGHUYLVLRQHHGLDWWHQHUVLDOOHSODQLPHWULHHVSRVWHHULSRUWDQWLODSRVL]LR QHGHLSUHVLGLDQWLQFHQGLROHYLHGLHVRGROHHYHQWXDOLLVWUX]LRQLGLFRPSRUWDPHQWRLQ FDVR GL HPHUJHQ]D FRPXQTXH LQ FDVR GL HPHUJHQ]D LO SHUVRQDOH GHOO·DJJLXGL FDWDULDRFKLGDHVVDLQFDULFDWRGHYHVHJXLUHOHLQGLFD]LRQLDQFKHYHUEDOLGHO SHUVRQDOHGHOODVWUXWWXUD ,Q FRQVLGHUD]LRQH GHOOD YDOHQ]D SUHVVRFKp XQLYHUVDOH GL WDOL UHJROH GL FRPSRUWDPHQWR O·DJJLXGLFDWDULRVLDWWHUUjDOOHVWHVVHDQFKHSUHVVRVWUXWWXUHQRQFRPXQDOLVDOYRGLYHUVRDYYLVR VFULWWRGDSDUWHGHLUHVSRQVDELOLGLGHWWHVWUXWWXUHVDUjVXDFXUDLQROWUHDWWHQHUVLDUHJROHVSH FLILFKHHSDUWLFRODULYLJHQWLQHLVLQJROLDPELHQWLOXRJKLGRYHYHUUjHVHJXLWRLOSUHVHQWHDSSDOWR    ,1)250$=,21((&225',1$0(172  $GDJJLXGLFD]LRQHDYYHQXWDLO&RPPLWWHQWHQHOODIDWWLVSHFLHL6HUYL]LHFRQRPDOLHSURYYHGL WRUDWRGHOO·$UHDVHUYL]LILQDQ]LDULWULEXWLHSDUWHFLSD]LRQLILQDQ]LDULHTXDOHJHVWRUHGHOSUH VHQWHDSSDOWRFRQYRFDXQDULXQLRQHJHQHUDOHGLFRRUGLQDPHQWRDOODTXDOHSDUWHFLSHUDQQRL UDSSUHVHQWDQWL GHOOD FRPPLWWHQ]D GHOO·DJJLXGLFDWDULR H GHJOL HQWL DSSDOWDWRUL GHL VHUYL]L GL PDQXWHQ]LRQHGHO&RPXQHGL7ULHVWH ,QWDOHRFFDVLRQHYHUUDQQRGLYXOJDWHOHLQIRUPD]LRQLSLDJJLRUQDWHVX LOOXVWUD]LRQH GHO SUHVHQWH SLDQR GL VLFXUH]]D LQ SDUWLFRODUH SHU OH SDUWL GL SL VSHFLILFD FRPSHWHQ]DGHLYDULLQWHUHVVDWL - HYHQWXDOLVLWXD]LRQLGLODYRULGLPDQXWHQ]LRQHXUJHQWLSUHVVRVWUXWWXUHFRPXQDOLRSHUWL QHQWLDOSUHVHQWHDSSDOWR - UHJROH GL VLFXUH]]D VSHFLILFKH H SDUWLFRODUL YLJHQWL LQ DPELHQWLOXRJKL GL HVHFX]LRQH GHO SUHVHQWHDSSDOWRQRQGLFRPSHWHQ]DGHOO·DPPLQLVWUD]LRQHFRPXQDOH -.  /·$PPLQLVWUD]LRQH FRPXQDOH FRQFRUGHUj FRQ O·DJJLXGLFDWDULR LO JLRUQR HG RUD GHJOL LQWHU YHQWLQRQFKpOHPRGDOLWjRSHUDWLYHGLDFFHVVRDOOHVWUXWWXUHHGDLORFDOLLQWHUHVVDWL  ,O SHUVRQDOH FRPXQDOH HYHQWXDOPHQWH SUHVHQWH VXO OXRJR GL HVHFX]LRQH GDUj DO SHUVRQDOH GHOO·DJJLXGLFDWDULROHRSSRUWXQHLQGLFD]LRQLVXOSHUFRUVRLQWHUQRSHUUDJJLXQJHUHLYDQLLQWH UHVVDWLRLGHSRVLWLLQGLFDQGRJOLHYHQWXDOLOXRJKLGLGHSRVLWRWHPSRUDQHRGHLFROOLFKHFR PXQTXH QRQ GRYUDQQR PDLRVWUXLUH SHUFRUVL H YLH GLXVFLWD H GL HPHUJHQ]D QRQFKp LQGL FKHUjHULFKLDPHUjO·DWWHQ]LRQHVXHYHQWXDOLSHULFROLSUHVHQWLQHJOLDPELHQWLHORFDOLHVXOOD HYHQWXDOHQHFHVVLWjGLPDQWHQHUHDSHUWHDQFKHSURYYLVRULDPHQWHHSHULOVRORWHPSRGH VWLQDWR DO WUDVSRUWR SRUWH GRWDWH GL FKLXGLSRUWD DXWRPDWLFR H UHODWLYH PRGDOLWj GL HVHFX ]LRQHFKHFRPXQTXHQRQGRYUDQQRPDLRVWUXLUHLOSDVVDJJLR  ,O SHUVRQDOH GHOO·DJJLXGLFDWDULR GRYUj WUDVPHWWHUH DO SHUVRQDOH GHOO·$PPLQLVWUD]LRQH JLXGL ]LDULDGLULIHULPHQWRDOPHQRFLQTXHJLRUQLODYRUDWLYLSULPDGHOO·LQL]LRGHOOHRSHUD]LRQLGLIDF FKLQDJJLRHRWUDVSRUWROHFRSLHGHLGRFXPHQWLGLLGHQWLWjGHOSHUVRQDOHFKHSDUWHFLSHUjDO OHRSHUD]LRQLVXGGHWWHDOILQHFKHYHQJDQRULODVFLDWLLQHFHVVDULSHUPHVVL  3HU OH IDVL GL FDULFR VXJOL DXWRPH]]L GHL FROOL GD PRYLPHQWDUH VL VXJJHULVFH LO WUDVSRUWR D PDQRRFRQO·DXVLOLRGLFDUUHOOLDPDQRFRQUXRWHGLGLPHQVLRQHRSSRUWXQDDGHYLWDUHLOSH ULFRORGLEORFFDJJLRSHUHIIHWWRGHOOHVFRQQHVVLRQLGHOODSDYLPHQWD]LRQHGHOODFRUWHLQWHUQD qDVVROXWDPHQWHVFRQVLJOLDWRO·XWLOL]]RGLWUDQVSDOOHWSHUOHPRWLYD]LRQLVRSUDHVSRVWH  $QFKH SHU OR VFDULFR H OD PHVVD D GHSRVLWR R SHU LO VXFFHVVLYR PRQWDJJLR D GHVWLQD]LRQH VDUDQQRGHVWLQDWHDUHHULVHUYDWHDFXUDGHO&RPXQHGL7ULHVWHSHUODVRVWDGHJOLDXWRPH] ]L4XDORUDFLzQRQVLDSRVVLELOHSHUUDJLRQLWHPSRUDOLRGRUJDQL]]DWLYHYHUUDQQRFRQFRUGD WHOHPRGDOLWjGLVRVWDRSHUDWLYDGHJOLDXWRPH]]L.

(28)    0,685(',6,&85(==$'$$'277$5('$3$57('(//·$**,8',&$7$5,2  $OPRPHQWRGHOO·DUULYRSUHVVRODVWUXWWXUDLQWHUHVVDWDDOOHRSHUD]LRQLGLIDFFKLQDJJLRHWUD VSRUWRLOSHUVRQDOHGHOO·DJJLXGLFDWDULRVHJXLUjOHLQGLFD]LRQLIRUQLWHJOLLQSUHFHGHQ]DSHUHQ WUDUYLHSHUFRUUHUHODYLDELOLWjGHOODVWUXWWXUD GRYUjFRPXQTXHRVVHUYDUHOHVHJXHQWLSUH VFUL]LRQL $ WHQHUHXQDYHORFLWjDSDVVRG·XRPRHSUHVWDUHFRPXQTXHODPDVVLPDDWWHQ]LRQHD HYHQWXDOHSUHVHQ]DGLSHUVRQHOXQJRLOSHUFRUVR % GDUH FRPXQTXH H VHPSUH OD SUHFHGHQ]D DL SHGRQL VLD VLQJROL FKH LQ JUXSSR LQ SDUWLFRODUH QHO SDVVDJJLR GL YDUFKL FDQFHOOL GL LQJUHVVR DG HVHPSLR

(29)  R QHL SDVVDJJL SLVWUHWWL & QHOFDVRLQFXLO·DSHUWXUDGHOFDQFHOORVLDPDQXDOHHYHQJDHIIHWWXDWDDFXUDGHOSHU VRQDOH FRPXQDOH SUHVHQWH VXO SRVWR DWWHQGHUH FKH OR VWHVVR VL VLD DOORQWDQDWR GDO FDQFHOORVWHVVRSULPDGLULSUHQGHUHODPDUFLD ' SDUFKHJJLDUHO·DXWRPH]]RQHOOD]RQDDSSRVLWDPHQWHLQGLFDWDGDOSHUVRQDOHGLFXLVR SUD H FRPXQTXH VHQ]D LQWUDOFLDUH LQ QHVVXQ PRGR JOL LQJUHVVL DL ORFDOL LQWHUHVVDWL VSHJQHUHLOPRWRUHQRQDSSHQDSRVVLELOHLQVHULUHLOIUHQRDPDQRVILODUHODFKLDYHGL DYYLDPHQWRFKLXGHUHDFKLDYHODFDELQDDSSOLFDUHOHHYHQWXDOLFDO]DWRLHDOOHUXRWH ( QHOFDVRGLXWLOL]]RGLSHGDQDLGUDXOLFDSRWUjPDQRYUDUODVRORLQDVVHQ]DGLSHUVRQH QHOOHLPPHGLDWHYLFLQDQ]HHGRSRDYHUGHOLPLWDWRFRQFRQLO·DUHDRSHUDWLYDTXDORUD TXDOFXQR VL DYYLFLQDVVH GRYUj IHUPDUH OD PDQRYUD HLQYLWDUH OD SHUVRQD DG DOORQWD QDUVLODPDQRYUDYHUUjULSUHVDVRORTXDQGRODSHUVRQDVLVDUjDOORQWDQDWD  1HOFDVRGLWUDVSRUWRDEUDFFLDDYUjFXUDGLWHQHUHLOFDULFRLQPRGRGDQRQRVWDFRODUVLOD YLVXDOHGDUjFRPXQTXHODSUHFHGHQ]DDGDOWUHSHUVRQHSUHVHQWLQHOODVWUXWWXUD  'RYUj FRPXQTXH SUHVWDUH SDUWLFRODUH DWWHQ]LRQH QHO SDVVDUH DWWUDYHUVR SRUWH FRQ VSHF FKLDWXUHLQYHWUR  ,QFDVRVLYHULILFKLXQDVLWXD]LRQHGLHPHUJHQ]DFKHFRPSRUWLORVIROODPHQWRGDOO·HGLILFLRVR VSHQGHUjLPPHGLDWDPHQWHOHRSHUD]LRQLGLFDULFRRWUDVSRUWRHVHJXLUjOHLQGLFD]LRQLFKHJOL YHUUDQQRIRUQLWHGDOSHUVRQDOHFRPXQDOHSUHVHQWHQHOODVWUXWWXUDSHUXVFLUHRODVHJQDOHWLFD HVLVWHQWH  1HOFDVRUDYYLVLOXLVWHVVRXQDVLWXD]LRQHGLSRWHQ]LDOHHPHUJHQ]DVRVSHQGHUjOHRSHUD]LRQL GLFDULFRRWUDVSRUWRHLQIRUPHUjLPPHGLDWDPHQWHLOSHUVRQDOHFRPXQDOHSUHVHQWH  7HUPLQDWH OH RSHUD]LRQL VH O·DXWRPH]]R q DOO·LQWHUQR GHOOD VWUXWWXUD RVVHUYHUj OH VWHVVH SUHVFUL]LRQLGLFXLDOSXQWRGD$D(  7XWWHOHDWWUH]]DWXUHXWLOL]]DWHSHULOFDULFRVFDULFRHWUDVSRUWRGRYUDQQRHVVHUHLQEXRQR VWDWRG·XVR  $OPRPHQWRGHOO·DUULYRSUHVVROHVHGLGLHVHFX]LRQHVHJXLUjFRPXQTXHOHLQGLFD]LRQLGLFXL DLSUHFHGHQWLSWLGDDFRQO·DYYHUWHQ]DFKHOHLQGLFD]LRQLVDUDQQRLPSDUWLWH²RDQ GUDQQRULIHULWH²GDODOSHUVRQDOHDFLzLQFDULFDWRGHOOHVLQJROHVHGL  3DUWLFRODUHDWWHQ]LRQHGRYUjHVVHUSUHVWDWDQHOOHVHGLDELWXDOPHQWHXWLOL]]DWHFRPHVWUXWWX UHHGXFDWLYH DVLOLVFXROHHVLPLOL

(30) HRJLXGL]LDULH SDOD]]RGLJLXVWL]LD

(31) SHUODSUHVHQ]DGLWHU ]LHVWUDQHL DOOLHYLGLSHQGHQWLSXEEOLFR

(32)  1HOWUDVSRUWRGRYUjVFUXSRORVDPHQWHRVVHUYDUHOHQRUPHVXOODFLUFROD]LRQHVWUDGDOH 7XWWL L PDFFKLQDUL HOH DWWUH]]DWXUH XWLOL]]DWH SHU OH RSHUD]LRQL GL VFDULFR H WUDVSRUWR GR YUDQQRHVVHUHLQEXRQRVWDWRG·XVRHGLPDQXWHQ]LRQHHFRQGRWWHGDSHUVRQHVSHFLILFDWD PHQWHIRUPDWH.

(33) /·DUHDGHVWLQDWDDOORVFDULFRGRYUjHVVHUHRSSRUWXQDPHQWHVHJQDODWDFRQFRQLRVLVWHPLVL PLODUL /HRSHUD]LRQLGLVFDULFRWUDVSRUWRHGHSRVLWRSRWUDQQRDYYHQLUHVRORLQDVVHQ]DGLSHUVRQH QHOOHLPPHGLDWHYLFLQDQ]HTXDORUDTXDOFXQRVLDYYLFLQDVVHVLGRYUDQQRVRVSHQGHUHOHRSH UD]LRQLHLQYLWDUHODSHUVRQDDGDOORQWDQDUVLOHRSHUD]LRQLYHUUDQQRULSUHVHVRORTXDQGROD SHUVRQDVLVDUjDOORQWDQDWD    0,685(',6,&85(==$'$$'277$5('$3$57('(/3(5621$/(&2081$/(  ,O SHUVRQDOH FRPXQDOH VL DVWHUUj GDOO·LQWHUYHQLUH GLUHWWDPHQWH R LQGLUHWWDPHQWH LQWXWWH OH RSHUD]LRQLGLSUHOLHYRFDULFRVFDULFRWUDVSRUWRIDFFKLQDJJLRHFFSUHYLVWHQHOO·DSSDOWROL PLWDQGRVLDGDUHOHLQGLFD]LRQLVWUHWWDPHQWHQHFHVVDULHSHUO·HVHFX]LRQHGHLODYRULXQDYRO WD GDWH GHWWH LQGLFD]LRQL VL WHUUj GLVFRVWR GDOOH ]RQH RSHUDWLYH LQWHUHVVDWH GDOOH DWWLYLWj GHOO·DJJLXGLFDWDULR  1RQXWLOL]]HUjDWWUH]]DWXUHHPDFFKLQDULLQGLVSRQLELOLWjGHOO·DJJLXGLFDWDULRQpVLDYYLFLQHUj DOOH VWHVVH VSHFLH VH LQ PRYLPHQWR TXDORUD GRYHVVH FRPXQLFDUH FRQ LO SHUVRQDOH GHOO·DJJLXGLFDWDULRFKHDOPRPHQWRXWLOL]]DGHWWHDWWUH]]DWXUHHPDFFKLQDULJOLIDUjFHQQRGL IHUPDUVLHDWWHQGHUjFKHORVWHVVRVLVLDIHUPDWRSULPDGLDYYLFLQDUVLXQWDQWRLQSDUWLFRODUH QHOOHPDQRYUHFRQWUDQVSDOOHWWRFDUUHOOLHOHYDWRULRVLPLOL  4XDORUDIRVVHURLQDWWRODYRULGLPDQXWHQ]LRQHGLTXDOVLDVLQDWXUDHHVWHQVLRQH LYLFRPSUH VLVSD]]DWXUDHODYDJJLRSDYLPHQWL

(34) QRQSUHYLVWLLQSUHFHGHQ]DHJOLVWHVVLSRVVDQRLQWHUIHULUH FRQOHDWWLYLWjGHOO·DJJLXGLFDWDULRRSHUFKpVYROWLQHJOLDPELHQWLLQWHUHVVDWLDLSHUFRUVLRGH SRVLWL R SHUFKp VYROWL QHOOH LPPHGLDWH YLFLQDQ]H GHL PHGHVLPL R SHUFKp GL QDWXUD WDOH GD SRWHUSURYRFDUHFDGXWDGLRJJHWWLGDOO·DOWRRSURLH]LRQHGLIUDPPHQWLHPDWHULDOLRSDUWLFR ODULULVFKLGLLQFHQGLRHFFLOSHUVRQDOHFRPXQDOHVRVSHQGHUjGLUHWWDPHQWHRVLSUHRFFXSH UjGLIDUVRVSHQGHUHGHWWLODYRULSHUWXWWDODGXUDWDGHOOHRSHUD]LRQLGHOO·DJJLXGLFDWDULR  4XDORUDGXUDQWHGHWWHRSHUD]LRQLVLSUHVHQWDVVHURDGGHWWLGHOOHLPSUHVHGLPDQXWHQ]LRQH SHUHVHJXLUHODYRULQRQSUHDYYLVDWLLOSHUVRQDOHFRPXQDOHQRQFRQVHQWLUjRVLSUHRFFXSHUj GLQRQIDUFRQVHQWLUHO·LQL]LRGLTXHVWLODYRULILQRDFRPSOHWDPHQWRGHOOHVXGGHWWHRSHUD]LR QLGHOO·DJJLXGLFDWDULRVDOYRFKHLODYRULVWHVVLVLDQRILQDOL]]DWLDFRQVHQWLUHODUHJRODUHSURVH FX]LRQHGHOOHDWWLYLWjHOHWWRUDOLQHOTXDOFDVRYHUUjGDWDSUHFHGHQ]DDTXHVWLXOWLPLHVRVSH VHOHDWWLYLWjGHOO·DJJLXGLFDWDULR    21(5,3(5/$6,&85(==$5,&2126&,87,$//·$**,8',&$7$5,2  *OL RQHUL GL VLFXUH]]D VWLPDWL GDO FRPPLWWHQWH DL VHQVL GHO FRPELQDWR GLVSRVWR GHOO·DUW '/JV HDUW'/JVDFRSHUWXUDGHLFRVWLUHODWLYLDOODHOLPLQD]LRQHULGX]LRQHGHLULVFKLLQ WHUIHUHQ]LDOLVRQRUHODWLYLD - SDUWHFLSD]LRQLDULXQLRQLGLFRRUGLQDPHQWRWUDVWD]LRQHDSSDOWDQWHHGDSSDOWDWRUHSHULOOX VWUDUHOHSURFHGXUHGLVLFXUH]]DGDDGRWWDUHDQFKHLQIXQ]LRQHGHOOHULVXOWDQ]HHGHLFRQWH QXWLGHOSUHVHQWHGRFXPHQWRHGHOO·HYROX]LRQHGHOO·DSSDOWR - SRVVLELOH LQWHUUX]LRQH OLPLWD]LRQH R SUROXQJDPHQWR GHOO·DWWLYLWj GHOO·DSSDOWDWRUH LQ FDVR GL LQWHUYHQWLXUJHQWLGL*OREDO6HUYLFHRGL*HVWLRQH(QHUJLD WHPSLWHFQLFLGLDWWHVD

(35)  - HYHQWXDOLDOWUHSURFHGXUHSDUWLFRODULULFKLHVWHHFRQFRUGDWHWUDO·DSSDOWDWRUHHOHVWUXWWXUH QRQFRPXQDOLGLFXLODVWD]LRQHDSSDOWDQWHQRQSXzHVVHUHDFRQRVFHQ]DHVXOOHTXDOLQRQ KDSRVVLELOLWjGLLQWHUYHQWR HGDPPRQWDQRD (XUR  GXHPLODFLQTXHFHQWR

(36) JOLLPSRUWLVXGGHWWLVLLQWHQGRQR,9$H VFOXVDHSHUWXWWDODGXUDWDGHOO·DSSDOWR  ƒ.

(37) /·DSSDOWDWRUHVLLPSHJQDDUHQGHUHHGRWWRGLWXWWRTXDQWRSUHFHGHLOSHUVRQDOHFKHPDWHULDOPHQWH HVHJXLUjLOVHUYL]LR   ,OFRPPLWWHQWH. /·DSSDOWDWRUH. ,OGLUHWWRUHGHOO·$UHDVHUYL]LILQDQ]LDUL WULEXWLHSDUWHFLSD]LRQLILQDQ]LDULH. 7ULHVWHBBBBBBBBBBBBBB WLPEURHILUPDSHUDFFHWWD]LRQH. 9LQFHQ]R'L0DJJLR. . YHGLGDWDHILUPDGLJLWDOH. BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB.  9LVWR ,OUHVSRQVDELOH6HUYL]LRFHQWUDOHGLSUHYHQ]LRQHHSURWH]LRQHGHO&RPXQHGL7ULHVWH /LYLR6LYLORWWR YHGLGDWDHILUPDGLJLWDOH.  .

(38) $//(*$72$  6&+('$,1)250$7,9$68//$67587785$ $,),1,',&225',1$0(172(',6,&85(==$ 3(5$33$/7,',)251,785(',%(1,(6(59,=,  '$&203,/$5('$3$57('(/5(63216$%,/('(//$67587785$  '$7,'(//$67587785$,1&8,9,(1(692/72/·$33$/72 'HQRPLQD]LRQH. . 6LWDLQ. . /RFDOLWj. . 5HVSRQVDELOHGHOOD VWUXWWXUD. . 7HOHIRQR. . ,QGLUL]]RHPDLO. . Q  &$3 . )D[ . 5HIHUHQWHGHOODVWUXWWX  UDSHUO·DSSDOWR 7HOHIRQR. . ,QGLUL]]RHPDLO   . . )D[ . ,1)250$=,21,*(1(5$/,68//·(',),&,2.  $FFHVVLDOO·HGLILFLR $FFHVVLSHGRQDOL. . $FFHVVLFDUUDELOL. . 6RVWDGLYHLFROL DOO·LQWHUQRGHOO·DUHDGL SHUWLQHQ]DGHOO·HGLILFLR. . 3HUFRUVLHVWHUQLHLQ WHUQLSHUUDJJLXQJHUHL ORFDOLGHVWLQDWLDOGHSR VLWRGHLPDWHULDOLHDW WUH]]DWXUHGLSXOL]LD. .  $OWUR BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB .  1. ,QGLFD]LRQHYLDFLYLFRSHUFRUVLSUHVHQ]DGLUDPSHJUDGLQLHFF ,QGLFD]LRQHYLDFLYLFRSHUFRUVLSUHVHQ]DGLFDQFHOOLPDQXDOLPRWRUL]]DWLHFF  ,QGLFD]LRQLVXOO·DXWRUL]]D]LRQHRPHQRDSDUFKHJJLDUHQHOOHDUHHHVWHUQHGLSHUWLQHQ]DGHOO·HGLILFLR  'HVFULYHUHVLQWHWLFDPHQWHLOSHUFRUVRGDVHJXLUHSHUUDJJLXQJHUHLORFDOL . .

(39)   . '(6&5,=,21(6,17(7,&$'(//($77,9,7­692/7(1(//·(',),&,2.  2UDULRGLODYRURGHOSHUVRQDOHGHOODVWUXWWXUD *,2512. 0$77,12. 320(5,**,2. OXQHGu. GDOOH. DOOH. GDOOH. DOOH. PDUWHGu. GDOOH. DOOH. GDOOH. DOOH. PHUFROHGu. GDOOH. DOOH. GDOOH. DOOH. JLRYHGu. GDOOH. DOOH. GDOOH. DOOH. YHQHUGu. GDOOH. DOOH. GDOOH. DOOH. VDEDWR. GDOOH. DOOH. GDOOH. DOOH.  2UDULRGLDSHUWXUDDOSXEEOLFRGHOODVWUXWWXUD *,2512. 0$77,12. 320(5,**,2. OXQHGu. GDOOH. DOOH. GDOOH. DOOH. PDUWHGu. GDOOH. DOOH. GDOOH. DOOH. PHUFROHGu. GDOOH. DOOH. GDOOH. DOOH. JLRYHGu. GDOOH. DOOH. GDOOH. DOOH. YHQHUGu. GDOOH. DOOH. GDOOH. DOOH. VDEDWR. GDOOH. DOOH. GDOOH. DOOH.  1RWH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  $WWLYLWjODYRUDWLYDVYROWDGDOSHUVRQDOHGHOO·$PPLQLVWUD]LRQHFRPXQDOH 6,† †12† †6H6ÏVLULPDQGDDOGRFXPHQWRIDVFGLGDWD  $WWLYLWjODYRUDWLYDVYROWDGDSHUVRQDOHHVWHUQR DSSDOWLHFRQFHVVLRQL

(40)  1HOO·HGLILFLRYHQJRQRRSRVVRQRHVVHUVYROWHDWWLYLWjLQUHJLPHGLDSSDOWRGLVHUYL]LIRUQLWXUHLQFRQWHPSR UDQHDDOORVYROJLPHQWRGHOOHDWWLYLWjGHOO·DSSDOWDWRUHHVHFXWRUHGHOO·DSSDOWRGLSXOL]LH" 0DQXWHQ]LRQH RUGLQDULD H VWUDRUGLQDULD GHJOL LPPRELOL H LP 6,† †12† † F R Q W †  R FF DV †  SLDQWL 3LFFRODHPLQXWDPDQXWHQ]LRQH 6,† †12† † F R Q W †  R FF DV †  $WWLYLWjGLJXDUGLDQuD. 6,† †12† † F R Q W †  R FF DV † . 'HUDWWL]]D]LRQHHGLVLQIHVWD]LRQHGHJOLDPELHQWL. 6,† †12† † F R Q W †  R FF DV † . $WWLYLWjGLIDFFKLQDJJLRRVLPLOL. 6,† †12† † F R Q W †  R FF DV † . &RQVHJQDPHUFLPDWHULDOLHFF. 6,† †12† † F R Q W †  R FF DV † .  . ,QGLFD]LRQHGLDSSDOWLDWWLYLQHOODVWUXWWXUDHLQFDVRDIIHUPDWLYRVHDFDUDWWHUHFRQWLQXRRRFFDVLRQDOHEDUUDUHOHFD VHOOHFRUULVSRQGHQWLRGHVFULYHUOLVLQWHWLFDPHQWH. .

(41)  $OWULDSSDOWLFRQFHVVLRQL BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  $OWUHSUHVHQ]HHUHODWLYLRUDUL BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB   . 5,6&+,63(&,),&,,17(5)(5(1=,$/,(6,67(17,1(//$67587785$.  5LVFKLUHODWLYLDLOXRJKLGLODYRUR 'HVFUL]LRQHVLQWHWLFDGHLULVFKLVSHFLILFLLQWHUIHUHQ]LDOLSHUO·DSSDOWDWRUHGHULYDQWLGDOO·DPELHQWHGLODYRURH UHODWLYHPLVXUHGLVLFXUH]]DDGRWWDWHRGDDGRWWDUHXOWHULRULULVSHWWRDTXHOOHLQGLFDWHQHO'895, BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  5LVFKLUHODWLYLDOOHDWWLYLWjVYROWH 'HVFUL]LRQHVLQWHWLFDGHLULVFKLVSHFLILFLLQWHUIHUHQ]LDOLSHUO·DSSDOWDWRUHGHULYDQWLGDOO·DWWLYLWjHUHODWLYHPLVX UHGLVLFXUH]]DDGRWWDWHRGDDGRWWDUHXOWHULRULULVSHWWRDTXHOOHLQGLFDWHQHO'895, 3UHVHQ]D SHUVRQDOH GHOO·$PPLQLVWUD]LRQH FRPXQDOH R DSSDOWDWRUL WHU]L H UH ODWLYDDWWLYLWj 5LVFKLGDDJHQWLFKLPLFL. 6,† †12† † 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDDJHQWLELRORJLFL. 6,† †12† †. 6H6,VSHFLILFDUH.  . $OWUHSUHVHQ]HHUHODWLYLRUDUL DGHVDYYRFDWLHSDWURFLQDWRULOHJDOLIRU]HGLSROL]LDHFF

(42)  7 9DQQR LQVHULWH LQGLFD]LRQL VX RVWDFROL R VLWXD]LRQL SHULFRORVH DQFKH FRQWLQJHQWL QHL OXRJKL GL SDVVDJJLR H GL ODYRUR GHOO·DSSDOWDWRUH 8(VHPSLRGHULYDWLGDOO·XWLOL]]RGHLSURGRWWLSHUODSXOL]LDGLVLQIH]LRQHHFFGHJOLDPELHQWL LQDOD]LRQHFRQWDWWRFXWD QHRLQJHVWLRQH

(43) ,QGLFDUHLQROWUHVHqSUHVHQWHLQVWUXWWXUDFRSLDGHOOHVFKHGHWHFQLFKHGLVLFXUH]]DFKHSRVVRQRHVVH UHFRQVXOWDWHLQFDVRGLQHFHVVLWj 9&RPSLODUHVHSUHVHQWLDJHQWLELRORJLFLHOHQFDWLQHOO·$OOHJDWR;/9,GHO'/JV. .

(44)  5LVFKLG·LQFHQGLRHGHVSORVLRQH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDRUJDQLPHFFDQLFLLQPRYLPHQWR. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKL GD XWLOL]]R GL PDFFKLQH DSSDUHFFKLDWXUH DWWUH]]DWXUH HYHQWXDOPHQWH FRQFHVVHLQXVRDOO·DSSDOWDWRUH 6H6,VSHFLILFDUH. 6,† †12† †. 5LVFKLGDUXPRUH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDPDFFKLQHPRWRULOLQHHHGDSSDUHFFKLDWXUHHOHWWULFKH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDJDVFULRJHQLFLRWRVVLFL. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDPLFURFOLPD. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDFDULFKLVRVSHVL. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDDSSDUHFFKLLQSUHVVLRQHRJHQHUDWRULGLYDSRUH. 6,† †12† †. 6H6,VSHFLILFDUH $OWULULVFKL. 6,† †12† †. 6H6,VSHFLILFDUH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB   . *(67,21('(//((0(5*(1=(.  2UJDQL]]D]LRQHJHQHUDOHGHOODVWUXWWXUD /DVWUXWWXUDqGRWDWDGL SLDQRGLHPHUJHQ]DHGHYDFXD]LRQHHXQDSURSULDRUJDQL]]D]LRQHGHOO·HPHUJHQ]D. 6,† †12† †. SODQLPHWULHHVSRVWHFRQHYLGHQ]DGHOOHYLHGLHVRGR 6,† †12† † SHUVRQDOHGHVLJQDWRHIRUPDWRSHUODJHVWLRQHGHOOHHPHUJHQ]H DQWLQFHQGLRSULPRVRF 6,† †12† † FRUVRHFF

(45)  DOWUR«BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB.  . (VHPSLRSUHVHQ]DGLFHQWUDOHWHUPLFDDJDVQHLSUHVVLQRQIXPDUHQpXVDUHILDPPHOLEHUH (VHPSLRSUHVHQ]DGLFDQFHOORPRWRUL]]DWRVHJXLUHJOLDYYLVLDSSRVWLLQSURVVLPLWjGHOFDQFHOORQRQDWWUDYHUVDUHH QRQVRVWDUHQHOO·DUHDGLDSHUWXUDHFKLXVXUDFRQLOFDQFHOORLQPRYLPHQWR . .

(46)    6HJQDOHFRQYHQ]LRQDOHGLRUGLQHGLHYDFXD]LRQHGHOODVWUXWWXUDLQFDVRGLHPHUJHQ]D † 6XRQRFRQWLQXRHSUROXQJDWRGLFDPSDQHOOR † 6XRQRLQWHUPLWWHQWHGLFDPSDQHOOR † $OODUPHDFXVWLFRGHOO·LPSLDQWRDQWLQFHQGLR VLUHQD

(47)  † $YYHUWLPHQWRYRFDOH † $OWUR ILVFKLHWWRWURPEDHFF

(48)  1RWD ,QFDVRGLHPHUJHQ]DLOSHUVRQDOH GHOO·$PPLQLVWUD]LRQHJLXGL]LDULDDGGHWWRVLSUHQGHUjFXUD GHOSHUVRQDOH GHOO·DSSDOWDWRUHHVHFXWRUHGDQGRJOLOHRSSRUWXQHLQGLFD]LRQLHGDVVLVWHQ]D $VXDYROWDLOSHUVRQDOHGHOO·DSSDOWDWRUHHVHFXWRUHGHYHVHJXLUHOHLQGLFD]LRQLDQFKHYHUEDOLGHOSHUVRQDOH GHOO·$PPLQLVWUD]LRQHJLXGL]LDULDDGGHWWR 4XDORUDO·DSSDOWDWRUHHVHFXWRUHULVFRQWULFRQGL]LRQLGLSHULFRORRGLHPHUJHQ]D LQFHQGLRDOODJDPHQWRIXJD GLJDVHFF

(49) VRVSHQGHUjOHVXHDWWLYLWjHVHJQDOHUjDOSHUVRQDOHGHOO·$PPLQLVWUD]LRQHJLXGL]LDULDSUHVHQWHLQ VHGHODVLWXD]LRQHULOHYDWD   . 8/7(5,25,,1)250$=,21,3(5/·$33$/7$725((6(&8725(. BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  .  . (V'HVFUL]LRQHGLHYHQWXDOLREEOLJKLRGLYLHWLVSHFLILFLYLJHQWLQHOODVWUXWWXUD. .

(50)   '$&203,/$5('$3$57('(//·$33$/7$725((6(&8725( 5,6&+,63(&,),&,,17(5)(5(1=,$/,,1752'277,  '$//·$33$/7$725((6(&8725(. 'HVFUL]LRQH VLQWHWLFD GHL ULVFKL VSHFLILFL LQWHUIHUHQ]LDOL SHU LO SHUVRQDOH GHOOD VWUXWWXUD H WHU]L GHULYDQWL GDOO·DWWLYLWjGHOO·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·DSSDOWDWRUHHVHFXWRUH SHUDFFHWWD]LRQH

(51) .  .  . /·$PPLQLVWUD]LRQHFRQWUDHQWH SHUSUHVDYLVLRQH

(52)   . . .

(53)   '$&203,/$5('$3$57('(//·$00,1,675$=,21(&2175$(17( $. ,17(*5$=,21(21(5,'(//$6,&85(==$63(&,),&,3(5/·,17(59(172 5,&2126&,87,$//·$33$/7$725( &$86$/(. ,032572 ½

(54) . . . . . . . . . . . . . . . . . .  727$/(. .     7ULHVWH. .  ,OFRPPLWWHQWH. /·DSSDOWDWRUHHVHFXWRUH SHUDFFHWWD]LRQH

(55) .  .  .  . .

(56) $//(*$72%  6&+('$,1)250$7,9$68//$67587785$6&2/$67,&$67$7$/( $,),1,',&225',1$0(172(',6,&85(==$ 3(5$33$/7,',)251,785(',%(1,(6(59,=, . '$&203,/$5('$3$57('(/',5,*(17(6&2/$67,&2 . '$7,'(//$67587785$,1&8,9,(1(692/72/·$33$/72. 6FXROD. . 6LWDLQ. . /RFDOLWj. . 'LULJHQWHVFRODVWLFR. . 7HOHIRQR. . ,QGLUL]]RHPDLO. . 5HIHUHQWHGHOODVFXROD SHUO·DSSDOWR. . 7HOHIRQR. . ,QGLUL]]RHPDLO. . Q  &$3  )D[ . )D[ .   . ,1)250$=,21,*(1(5$/,68//·(',),&,2.  $FFHVVLDOO·HGLILFLR $FFHVVLSHGRQDOL. . $FFHVVLFDUUDELOL. . 6RVWDGLYHLFROL DOO·LQWHUQRGHOO·DUHDGL SHUWLQHQ]DGHOO·HGLILFLR. . .  . ,QGLFD]LRQHYLDFLYLFRSHUFRUVLSUHVHQ]DGLUDPSHJUDGLQLHFF ,QGLFD]LRQHYLDFLYLFRSHUFRUVLSUHVHQ]DGLFDQFHOOLPDQXDOLPRWRUL]]DWLHFF  ,QGLFD]LRQLVXOO·DXWRUL]]D]LRQHRPHQRDSDUFKHJJLDUHQHOOHDUHHHVWHUQHGLSHUWLQHQ]DGHOO·HGLILFLR 14. 6&33²VFKHGDFRRUGLQDPHQWRVWDWDOLGRF. .

(57)   . '(6&5,=,21(6,17(7,&$'(//($77,9,7­692/7(1(//·(',),&,2.  2UDULRGHOOHOH]LRQL *,2512. 0$77,12. 320(5,**,2. OXQHGu. GDOOH. DOOH. GDOOH. DOOH. PDUWHGu. GDOOH. DOOH. GDOOH. DOOH. PHUFROHGu. GDOOH. DOOH. GDOOH. DOOH. JLRYHGu. GDOOH. DOOH. GDOOH. DOOH. YHQHUGu. GDOOH. DOOH. GDOOH. DOOH. VDEDWR. GDOOH. DOOH. GDOOH. DOOH.  2UDULRGLDSHUWXUD *,2512. 0$77,12. 320(5,**,2. OXQHGu. GDOOH. DOOH. GDOOH. DOOH. PDUWHGu. GDOOH. DOOH. GDOOH. DOOH. PHUFROHGu. GDOOH. DOOH. GDOOH. DOOH. JLRYHGu. GDOOH. DOOH. GDOOH. DOOH. YHQHUGu. GDOOH. DOOH. GDOOH. DOOH. VDEDWR. GDOOH. DOOH. GDOOH. DOOH.  1RWH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  $WWLYLWjODYRUDWLYDVYROWDGDOSHUVRQDOHVWDWDOH $WWLYLWjULYROWHDJOLDOOLHYLHILQDOL]]DWHDOO·DUPRQLFRHFRPSOHWRVYLOXSSRGHOODSHUVRQDOLWjGLFLDVFXQLQGLYLGXR DQFKHDWWUDYHUVRO·DSSUHQGLPHQWRODFUHVFLWDFLYLOHHFXOWXUDOHHGDOODIRUPD]LRQHJOREDOHGHOODSHUVRQDOLWj $WWLYLWjDPPLQLVWUDWLYD$WWLYLWjGLFXVWRGLD  $WWLYLWjODYRUDWLYDVYROWDGDSHUVRQDOHHVWHUQR DSSDOWLHFRQFHVVLRQL

(58)  1HOO·HGLILFLRYHQJRQRRSRVVRQRHVVHUVYROWHDWWLYLWjLQUHJLPHGLDSSDOWRGLVHUYL]LIRUQLWXUHLQFRQWHPSR UDQHDDOORVYROJLPHQWRGHOOHDWWLYLWjGHOO·DSSDOWDWRUHHVHFXWRUHGHOO·DSSDOWR" 0DQXWHQ]LRQH RUGLQDULD H VWUDRUGLQDULD GHJOL LPPRELOL H LP 6,† †12† † F R Q W †  R FF DV †  SLDQWL )RUQLWXUDGHLSDVWLYHLFRODWLHJHVWLRQHGHOODFXFLQDVDODPHQVD 6,† †12† † F R Q W †  R FF DV †  3UHSDUD]LRQHSDVWLLQVHGHHJHVWLRQHGHOODFXFLQDVDODPHQVD 6,† †12† † F R Q W †  R FF DV †  6HUYL]LRGLVRVWHJQRVRFLRHGXFDWLYR. 6,† †12† † F R Q W †  R FF DV † . 'HUDWWL]]D]LRQHHGLVLQIHVWD]LRQHGHJOLDPELHQWL. 6,† †12† † F R Q W †  R FF DV † . &RQVHJQDPHUFLPDWHULDOLHFF. 6,† †12† † F R Q W †  R FF DV † . $OWULDSSDOWLFRQFHVVLRQL.  . ,QGLFD]LRQHGLDSSDOWLDWWLYLQHOODVWUXWWXUDHLQFDVRDIIHUPDWLYRVHDFDUDWWHUHFRQWLQXRRRFFDVLRQDOHEDUUDUHOHFD VHOOHFRUULVSRQGHQWLRGHVFULYHUOLVLQWHWLFDPHQWH . .

(59)  BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  $WWLYLWjSDUDVFRODVWLFKHHUHODWLYLRUDUL BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  $WWLYLWjH[WUDVFRODVWLFKHHUHODWLYLRUDUL BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB   . 5,6&+,63(&,),&,,17(5)(5(1=,$/,(6,67(17,1(//$67587785$.  5LVFKLUHODWLYLDLOXRJKLGLODYRUR 'HVFUL]LRQHVLQWHWLFDGHLULVFKLVSHFLILFLLQWHUIHUHQ]LDOLSHUO·DSSDOWDWRUHHVHFXWRUHGHULYDQWLGDOO·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jVYROWH 'HVFUL]LRQHVLQWHWLFDGHLULVFKLVSHFLILFLLQWHUIHUHQ]LDOLSHUO·DSSDOWDWRUHHVHFXWRUHGHULYDQWLGDOO·DWWLYLWjHUH ODWLYHPLVXUHGLVLFXUH]]DDGRWWDWHRGDDGRWWDUHXOWHULRULULVSHWWRDTXHOOHLQGLFDWHQHO'895,RQHO'2 &80(172',,1)250$=,21(&225',1$0(172(,6758=,21,',6,&85(==$ 3UHVHQ]DSHUVRQDOHVWDWDOHRDSSDOWDWRULWHU]LHUHODWLYDDWWLYLWj. 6,† †12† †. 5LVFKLGDDJHQWLFKLPLFL. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDDJHQWLELRORJLFL. 6,† †12† †. 6H6,VSHFLILFDUH.  (VDOWUHDWWLYLWjJHVWLWHGDOODVFXRODDQFKHIXRULRUDULRGLOH]LRQH (VSDOHVWUHDXOHRDOWULORFDOLFRQFHVVLLQXVRDWHU]LDQFKHLQRUDULRH[WUDVFRODVWLFR 199DQQRLQVHULWHLQGLFD]LRQLVXRVWDFROLRVLWXD]LRQLSHULFRORVHDQFKHFRQWLQJHQWLQHLOXRJKLGLSDVVDJJLRHGLODYRUR GHOO·DSSDOWDWRUH 20(VHPSLRGHULYDWLGDOO·XWLOL]]RGHLSURGRWWLSHUODSXOL]LDGLVLQIH]LRQHHFFGHJOLDPELHQWL LQDOD]LRQHFRQWDWWRFXWD QHRLQJHVWLRQH

(60) ,QGLFDUHLQROWUHVHqSUHVHQWHLQVWUXWWXUDFRSLDGHOOHVFKHGHWHFQLFKHGLVLFXUH]]DFKHSRVVRQRHVVH UHFRQVXOWDWHLQFDVRGLQHFHVVLWj 21&RPSLODUHVHSUHVHQWLDJHQWLELRORJLFLHOHQFDWLQHOO·$OOHJDWR;/9,GHO'/JV  .

(61)  5LVFKLG·LQFHQGLRHGHVSORVLRQH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDRUJDQLPHFFDQLFLLQPRYLPHQWR. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKL GD XWLOL]]R GL PDFFKLQH DSSDUHFFKLDWXUH DWWUH]]DWXUH HYHQWXDOPHQWH FRQFHVVHLQXVRDOO·DSSDOWDWRUH 6H6,VSHFLILFDUH. 6,† †12† †. 5LVFKLGDUXPRUH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDPDFFKLQHPRWRULOLQHHHGDSSDUHFFKLDWXUHHOHWWULFKH. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDJDVFULRJHQLFLRWRVVLFL. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDPLFURFOLPD. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDFDULFKLVRVSHVL. 6,† †12† †. 6H6,VSHFLILFDUH 5LVFKLGDDSSDUHFFKLLQSUHVVLRQHRJHQHUDWRULGLYDSRUH. 6,† †12† †. 6H6,VSHFLILFDUH $OWULULVFKL. 6,† †12† †. 6H6,VSHFLILFDUH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB   . *(67,21('(//((0(5*(1=(.  2UJDQL]]D]LRQHJHQHUDOHGHOODVWUXWWXUD /DVWUXWWXUDqGRWDWDGL SLDQRGLHPHUJHQ]DHGHYDFXD]LRQHHXQDSURSULDRUJDQL]]D]LRQHGHOO·HPHUJHQ]D. 6,† †12† †. SODQLPHWULHHVSRVWHFRQHYLGHQ]DGHOOHYLHGLHVRGR 6,† †12† † SHUVRQDOHGHVLJQDWRHIRUPDWRSHUODJHVWLRQHGHOOHHPHUJHQ]H DQWLQFHQGLRSULPRVRF 6,† †12† † FRUVRHFF

(62)  DOWUR«BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB   6HJQDOHFRQYHQ]LRQDOHGLRUGLQHGLHYDFXD]LRQHGHOODVWUXWWXUDLQFDVRGLHPHUJHQ]D † 6XRQRFRQWLQXRHSUROXQJDWRGLFDPSDQHOOR.  . (VHPSLRSUHVHQ]DGLFHQWUDOHWHUPLFDDJDVQHLSUHVVLQRQIXPDUHQpXVDUHILDPPHOLEHUH (VHPSLRSUHVHQ]DGLFDQFHOORPRWRUL]]DWRVHJXLUHJOLDYYLVLDSSRVWLLQSURVVLPLWjGHOFDQFHOORQRQDWWUDYHUVDUHH QRQVRVWDUHQHOO·DUHDGLDSHUWXUDHFKLXVXUDFRQLOFDQFHOORLQPRYLPHQWR   .

(63)   6HJQDOHFRQYHQ]LRQDOHGLRUGLQHGLHYDFXD]LRQHGHOODVWUXWWXUDLQFDVRGLHPHUJHQ]D † 6XRQRLQWHUPLWWHQWHGLFDPSDQHOOR † $OODUPHDFXVWLFRGHOO·LPSLDQWRDQWLQFHQGLR VLUHQD

(64)  † $YYHUWLPHQWRYRFDOH † $OWUR ILVFKLHWWRWURPEDHFF

(65)  1RWD ,Q FDVR GL HPHUJHQ]D LO SHUVRQDOH VFRODVWLFR DGGHWWR VL SUHQGHUj FXUD GHO SHUVRQDOH GHOO·DSSDOWDWRUHHVHFXWRUHGDQGRJOLOHRSSRUWXQHLQGLFD]LRQLHGDVVLVWHQ]D $VXDYROWDLOSHUVRQDOHGHOO·DSSDOWDWRUHHVHFXWRUHGHYHVHJXLUHOHLQGLFD]LRQLDQFKHYHUEDOLGHOSHUVRQDOH VFRODVWLFRDGGHWWR 4XDORUDO·DSSDOWDWRUHHVHFXWRUHULVFRQWULFRQGL]LRQLGLSHULFRORRGLHPHUJHQ]D LQFHQGLRDOODJDPHQWRIXJD GLJDVHFF

(66) VRVSHQGHUjOHVXHDWWLYLWjHVHJQDOHUjDOSHUVRQDOHVFRODVWLFRSUHVHQWHLQVHGHODVLWXD]LRQHULOH YDWD   8/7(5,25,,1)250$=,21,3(5/·$33$/7$725((6(&8725(. . BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB    7ULHVWH. .   ,OUHVSRQVDELOHGHOODVWUXWWXUD. /·DSSDOWDWRUHHVHFXWRUH SHUDFFHWWD]LRQH

(67) .  .  . ,OFRPPLWWHQWH SHUSUHVDYLVLRQH

(68)     .  . . (V'HVFUL]LRQHGLHYHQWXDOLREEOLJKLRGLYLHWLVSHFLILFLYLJHQWLQHOODVWUXWWXUD. .

(69)  '$&203,/$5('$3$57('(//·$33$/7$725((6(&8725( . 5,6&+,63(&,),&,,17(5)(5(1=,$/,,1752'277, '$//·$**,8',&$7$5,2(6(&8725(. 'HVFUL]LRQH VLQWHWLFD GHL ULVFKL VSHFLILFL LQWHUIHUHQ]LDOL SHU LO SHUVRQDOH GHOOD VWUXWWXUD H WHU]L GHULYDQWL GDOO·DWWLYLWjGHOO·DSSDOWDWRUHHUHODWLYHPLVXUHGLVLFXUH]]DDGRWWDWHRGDDGRWWDUHXOWHULRULULVSHWWRDTXHOOH LQGLFDWHQHO'895, BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB.   OXRJR BBBBBBBBBBBBBBBBBBBB. GDWD BBBBBBBBBBBBB.  /·DSSDOWDWRUHHVHFXWRUH. ,OUHVSRQVDELOHGHOODVWUXWWXUD SHUSUHVDYLVLRQH

(70) .  .  . ,OFRPPLWWHQWH SHUSUHVDYLVLRQH

(71)   . . . .

(72)  '$&203,/$5('$3$57('(//·$00,1,675$=,21(&2175$(17( $. ,17(*5$=,21(21(5,'(//$6,&85(==$63(&,),&,3(5/·,17(59(172 5,&2126&,87,$//·$33$/7$725( &$86$/(. ,032572 ½

(73) . . . . . . . . . . . . . . . . . .  727$/(. .     7ULHVWH. .  ,OFRPPLWWHQWH. /·DSSDOWDWRUHHVHFXWRUH SHUDFFHWWD]LRQH

(74) .  .  .    . . .

(75)

Riferimenti

Scarica adesso ( PDF - 23 pagine - 207.15 KB )

Documenti correlati

$XWRULWjGL$XGLWGHOOD5HJLRQH/D]LR 'HOLEHUD]LRQHGHOOD*5QGHO

Descrizione della attività di verifica effettuata nell'ambito del test di conformità Commenti e riferimenti alla documentazione esaminata Valutazione singolo punto di

D e s i g n a z i o n e d a p a r t e d e l p r o c u r a t o r e d i s t r e t t u a l e d i m a g i s t r a t i n o n a p p a r t e n e n t i a l l a D . D . A . p e r l a t r a t t a z i o n e d i p r o c e d i m e n t i p e n a l i r i g u a r d a n t

giud., con specifico riguardo ai limiti ed alle modalità in cui sia consentita la designazione da parte del procuratore distrettuale di magistrati non appartenenti alla

P A R E R E S U L L O S C H E M A D I D . L V O R E C A N T E " D I S P O S I Z I O N I C O R R E T T I V E A L L A T A B E L L A A A L L E G A T A A L D E C R E T O L E G I S L A T I V O 1 9 F E B B R A I O 1 9 9 8 , N . 5 1 , R E C A N T E N O R M E I N

Questo Consiglio nella seduta del 28 gennaio 1999 aveva liquidato il Parere sullo schema di un primo decreto legislativo in materia di "Disposizioni correttive del

( D e l i b e r a d e l 2 2 a p r i l e 1 9 9 9 )

Diversa situazione, va osservato per incidens, si verifica dopo la chiusura delle indagini preliminari (ad esempio, in sede di udienza preliminare): in questo caso il giudice,

A p r o p o s i t o d e l l a v e r i f i c a d e i c a r i c h i d i l a v o r o d e g l i u f f i c i g i u d i z i a r i a s e g u i t o d e l l ’ i s t i t u z i o n e d e l g i u d i c e u n i c o d i p r i m o g r a d o e d e l r i n v i o d e l l e

segnala ai Presidenti di Corte di Appello l’opportunità di sollecitare i dirigenti a non proporre allo stato le nuove tabelle per il biennio 1998-1999 e a predisporre

( D e l i b e r a d e l 2 9 a p r i l e 1 9 9 9 )

Per concludere, per quanto possa essere utile all'attuale operazione di ridefinizione degli organici, non si può non ricordare la richiesta di parere, sull'ampliamento delle

D78/1 MARCUCCI FRANCO CODICE FISCALE M R C F N C 5 8 P 1 9 H D

Gli intermediari non devono acquisire il consenso degli interessati per il trattamento dei dati in quanto è previsto dalla legge; mentre sono tenuti ad acquisire il consenso

D e c i s i o n e d e l 9 o t t o b r e

che, in data 1° gennaio 2007, il Tribunale amministrativo federale (TAF) ha ripreso la procedura in oggetto pendente fino al 31 dicembre 2006 davanti alla Commissione federale