Herunterladen Diese Seite drucken
%(',(181*6$1/(,781*
'LHVH$QOHLWXQJEHV.KUHLEWGLH%HGLHQXQJGHU7ULXP'XDO%DQG*607HOHIRQH
0DUVXQG1HSWXQH
$XVJDEH
‹0LWVXELVKL(OH.WUL.7HOH.RP(XURSH
1LHGHUODVVXQJ'HXWV.KODQG5DWLQJHQ
(VZXUGHVRUJIlOWLJDOOHV1|WLJHXQWHUQRPPHQXPGLH*HQDXLJNHLWGLHVHU$QOHLWXQJ
VL.KHU]XVWHOOHQ0LWVXELVKL(OH.WUL.EHKlOWVL.KDEHUGDV5H.KWYRU9HUEHVVHUXQJHQXQG
bQGHUXQJHQDQGHPLQGLHVHP+DQGEX.KEHV.KULHEHQHQ3URGXNWXQGRGHUGHP+DQGEX.K
VHOEVWRKQHYRUKHULJH$QNQGLJXQJYRU]XQHKPHQ
loading

Inhaltszusammenfassung für Trium Mars

  • Seite 1 %(',(181*6$1/(,781* 'LHVH$QOHLWXQJEHV.KUHLEWGLH%HGLHQXQJGHU7ULXP'XDO%DQG*607HOHIRQH 0DUVXQG1HSWXQH $XVJDEH ‹0LWVXELVKL(OH.WUL.7HOH.RP(XURSH 1LHGHUODVVXQJ'HXWV.KODQG5DWLQJHQ (VZXUGHVRUJIlOWLJDOOHV1|WLJHXQWHUQRPPHQXPGLH*HQDXLJNHLWGLHVHU$QOHLWXQJ VL.KHU]XVWHOOHQ0LWVXELVKL(OH.WUL.EHKlOWVL.KDEHUGDV5H.KWYRU9HUEHVVHUXQJHQXQG bQGHUXQJHQDQGHPLQGLHVHP+DQGEX.KEHV.KULHEHQHQ3URGXNWXQGRGHUGHP+DQGEX.K VHOEVWRKQHYRUKHULJH$QNQGLJXQJYRU]XQHKPHQ...
  • Seite 2 'DV0DUVDXIHLQHQ%OL.N $QWHQQH $QUXIXQG$NNXODGHVWDQG *UDILV.KHV'LVSOD\ $Q]HLJH +LHUZHUGHQ /DXWVSUH.KHU 7HOHIRQQXPPHUQ0HQV 1D.KUL.KWHQXVZ &XUVRU7DVWH DQJH]HLJW )UGLH1DYLJDWLRQLQ6SHL.KHU SOlW]HQXQG0HQV 3URJUDPPLHUEDUH)XQN WLRQVE]Z (LQ'UX.NOLQNV]HLJWGLH7HOH $XVZDKOWDVWHQ IRQEX.KHLQWUlJHDQRGHU )KUHQGLH)XQNWLRQHQDXV NHKUW]XUYRUKHULJHQ$Q]HLJH GLHGXU.KGHQMHZHLOLJHQ ]XU.N 7H[WGDUEHUEH]HL.KQHW (LQ'UX.NUH.KWV]HLJWGDV ZHUGHQ +DXSWPHQDQXQGRGHU ZlKOWHLQH)XQNWLRQDXVGHU (LQ$XV(1'(7DVWH DQJH]HLJWHQ0HQOLVWHDXV =XP(LQE]Z$XVV.KDOWHQ ,P0HQHLQNXU]HU'UX.N GHV7HOHIRQVJHGU.NW DXIGHQ$XIZlUWVSIHLOEOlWWHUW KDOWHQ'U.NHQXPHLQ GDV0HQQD.KREHQ,QGHU *HVSUl.K]XEHHQGHQRGHU %HUHLWV.KDIWVDQ]HLJH0LWHL ]XU%HUHLWV.KDIWVDQ]HLJH QHPNXU]HQ'UX.NDXIGHQ ]XU.N]XNHKUHQ $XIZlUWVSIHLOJHODQJHQ6LH %X.KVWDEHQXQG=LI LQV/DXWVWlUNHPHQ...
  • Seite 3 'DV1HSWXQHDXIHLQHQ%OL.N $QWHQQH $QUXIXQG$NNXODGHVWDQG *UDILV.KHV'LVSOD\ $Q]HLJH +LHUZHUGHQ 7HOHIRQQXPPHUQ0HQV /DXWVSUH.KHU 1D.KUL.KWHQXVZ &XUVRU7DVWH DQJH]HLJW )UGLH1DYLJDWLRQLQ6SHL.KHU 3URJUDPPLHUEDUH SOlW]HQXQG0HQV )XQNWLRQVE]Z (LQ'UX.NOLQNV]HLJWGLH7HOH $XVZDKOWDVWHQ IRQEX.KHLQWUlJHDQRGHUNHKUW )KUHQGLH)XQNWLRQHQ ]XUYRUKHULJHQ$Q]HLJH]XU.N DXVGLHGXU.KGHQ (LQ'UX.NUH.KWV]HLJWGDV MHZHLOLJHQ7H[WGDUEHU +DXSWPHQDQXQGRGHU EH]HL.KQHWZHUGHQ ZlKOWHLQH)XQNWLRQDXVGHU DQJH]HLJWHQ0HQOLVWHDXV (LQ$XV(1'(7DVWH =XP(LQE]Z ,P0HQHLQNXU]HU'UX.NDXI $XVV.KDOWHQGHV7HOHIRQV GHQ$XIZlUWVSIHLOEOlWWHUWGDV JHGU.NWKDOWHQ'U.NHQ 0HQQD.KREHQ,QGHU%H XPHLQ*HVSUl.K]X UHLWV.KDIWVDQ]HLJH0LWHLQHP EHHQGHQRGHU]XU NXU]HQ'UX.NDXIGHQ$XI %HUHLWV.KDIWVDQ]HLJH ZlUWVSIHLOJHODQJHQ6LHLQV ]XU.N]XNHKUHQ /DXWVWlUNHPHQ ,P0HQHLQNXU]HU'UX.N...
  • Seite 4 (LQIKUXQJ :LUEHGDQNHQXQVEHL,KQHQIUGHQ.DXIGHV0RELOWHOHIRQV7ULXP0DUV1HSWXQH'X DOEDQG'DVLQGLHVHP+DQGEX.KEHV.KULHEHQH7HOHIRQLVWIUGHQ%HWULHELQ*60 XQG1HW]HQJHHLJQHW'LH]XU9HUIJXQJVWHKHQGHQ'LHQVWHXQGGLHDQJH]HLJWHQ +LQZHLVHN|QQHQMHQD.K,PSOHPHQWLHUXQJGXU.K,KUHQ1HW]EHWUHLEHUYHUV.KLHGHQDXV IDOOHQ :LHDOOH)XQNJHUlWHVHQGHWDX.KGLHVHV0RELOWHOHIRQHOHNWURPDJQHWLV.KH:HOOHQDXV (VHQWVSUL.KWGHQLQWHUQDWLRQDOHQ%HVWLPPXQJHQVRIHUQHVXQWHUQRUPDOHQ%HWULHEV EHGLQJXQJHQXQGLQhEHUHLQVWLPPXQJPLWGHQXQWHQXQGDXIGHQ6HLWHQXQG DQJHJHEHQHQ6L.KHUKHLWVXQG:DUQKLQZHLVHQJHKDQGKDEWZLUG $OOJHPHLQH6L.KHUKHLW %HLP*HEUDX.KGHV7HOHIRQVPVVHQDXIJUXQGGHU0|JOL.KNHLWYRQ5DGLRIUHTXHQ]VW| UXQJHQXQEHGLQJWDOOHEHVRQGHUHQ%HVWLPPXQJHQEHUGHQ(LQVDW]YRQ)XQNVHQGHUQ EHD.KWHWZHUGHQ %LWWHEHD.KWHQ6LHGDKHUGLHQD.KVWHKHQGHQ6L.KHUKHLWVHPSIHKOXQJHQ 6.KDOWHQ6LHGDV7HOHIRQLQHLQHP)OXJ]HXJDEXQGQHKPHQ6LHGHQ$NNX KHUDXV'HU*HEUDX.KYRQ0RELOWHOHIRQHQLQHLQHP)OXJ]HXJNDQQGHQ%H WULHEGHV)OXJ]HXJVJHIlKUGHQGDV0RELOIXQNQHW]VW|UHQXQGLVWLOOHJDO%HL 1L.KWEHD.KWXQJGLHVHU$QZHLVXQJNDQQGHU1XW]HUYRP*HEUDX.KGHU0R ELOWHOHIRQGLHQVWH]HLWZHLOLJRGHUGDXHUKDIWDXVJHV.KORVVHQXQGRGHUVWUD IUH.KWOL.KYHUIROJWZHUGHQ 6.KDOWHQ6LHGDV7HOHIRQLQGHU1lKHYRQ7DQNVWHOOHQRGHUHQWIODPPEDUHQ 6WRIIHQDXV 6.KDOWHQ6LHGDV7HOHIRQLQ.UDQNHQKlXVHUQXQGDQDQGHUHQ2UWHQDQ GHQHQPHGL]LQLV.KH*HUlWHEHQXW]WZHUGHQN|QQHQDXV %HD.KWHQ6LHGLH(LQV.KUlQNXQJHQEH]JOL.KGHV*HEUDX.KVYRQ)XQNVHQG HUQLQ%UHQQVWRIIODJHUQ.KHPLV.KHQ$QODJHQXQGEHL6SUHQJDUEHLWHQ %HLP*HEUDX.KGHV7HOHIRQVLQGHU1lKHYRQQL.KWDXVUHL.KHQGDEJH VL.KHUWHQSHUV|QOL.KHQPHGL]LQLV.KHQ*HUlWHQZLH+|UKLOIHQXQG +HU]V.KULWWPD.KHUQNDQQHLQH*HIlKUGXQJJHJHEHQVHLQ)UDJHQ6LH,KUHQ $U]WRGHUGHQ+HUVWHOOHUGHVPHGL]LQLV.KHQ*HUlWHVREGLHVHVDXVUHL.KHQG DEJHVL.KHUWLVW $X.KGHU*HEUDX.KGHV7HOHIRQVLQGHU1lKHYRQDQGHUHQHOHNWURQLV.KHQ *HUlWHQNDQQ]X6W|UXQJHQIKUHQZHQQGLHVHQL.KWDXVUHL.KHQGDEJH VL.KHUWVLQG$.KWHQ6LHDXIDOOH:DUQKLQZHLVHXQG(PSIHKOXQJHQGHU+HU VWHOOHU 9HUPHLGHQ6LHEHLHLQJHV.KDOWHWHP7HOHIRQHLQHQOlQJHUHQ.RQWDNW ]ZLV.KHQGHU$QWHQQHXQG,KUHU+DXW 'LHVHV*HUlWGDUIQXU]XVDPPHQPLWGHQIROJHQGHQ1HW]WHLOHQYHUZHQGHWZHUGHQ 6WH.NHUQHW]JHUlWH 0$0$ 7LV.KODGHJHUlW 0$0$0$ 0$ XQG)DKU]HXJ.LWV 0$0$0$0$  $OOHDQGHUHQ/DGHJHUlWHRGHU$GDSWHUIKUHQ]XP(UO|V.KHQGHU%HWULHEVJHQHKPL JXQJIUGLHVHV*HUlWXQGN|QQHQHLQH*HIDKUHQTXHOOHGDUVWHOOHQ...
  • Seite 5 ,QKDOWVYHU]HL.KQLV  9HUZHQGXQJGLHVHU  'DV0HQV\VWHP 00,  $QOHLWXQJ   =XJDQJ]XGHQ0HQV   0HQVWUXNWXU    (UVWH6.KULWWH   7H[WHLQJDEH   9RUEHUHLWXQJGHVHUVWHQ$QUXIV  1HW]GLHQVWH   *UXQGOHJHQGH%HGLHQXQJ  7HOHIRQEX.K  1D.KUL.KWHQ 606     6L.KHUKHLWVLQIRUPDWLRQHQ $QUXIH'DXHU   6L.KHUKHLWLP)DKU]HXJ  (LQVWHOOXQJHQGLH 3IOHJHXQG:DUWXQJ  VSH]LILV.KH$QSDVVXQJ...
  • Seite 6 9HUZHQGXQJGLHVHU$QOHLWXQJ %LWWHQHKPHQ6LHVL.K=HLWGLHVH$QOHLWXQJGXU.K]XOHVHQ6LHHQWKlOWYLHOHQW]OL.KH ,QIRUPDWLRQHQ]X,KUHP7HOHIRQXQGGHVVHQ%HWULHELP1HW]'DV*601HW]LVWPLWW OHUZHLOHZHOWZHLW]XJlQJOL.KXQGHUP|JOL.KWHV,KQHQ$QUXIHLQDQGHUHQ/lQGHUQ ]XWlWLJHQRGHUHQWJHJHQ]XQHKPHQ 5RDPLQJ DOVZlUHQ6LHLQ,KUHP+HLPDWODQG (LQLJHLQGLHVHU$QOHLWXQJEHV.KULHEHQHQ)XQNWLRQHQZHUGHQDOV1HW]IXQNWLRQHQ EH]HL.KQHWXQGYRQGHQ'LHQVWHDQELHWHUQEHUHLWJHVWHOOW%HYRU6LHYLHOHYRQGHQDQ JHERWHQHQ1HW]GLHQVWHQMHGR.KQXW]HQRGHUDX.KQXUDNWLYLHUHQN|QQHQPVVHQ 6LHGLHJHZQV.KWHQ'LHQVWHDERQQLHUHQ(LQHYROOVWlQGLJH/LVWHXQG(UOlXWHUXQJHQ ]XGHQ1HW]IXQNWLRQHQHUKDOWHQ6LHYRQ,KUHP'LHQVWHDQELHWHU (UNOlUXQJGHULP+DQGEX.KEHQXW]WHQ6\PEROH 'DPLW6LHVL.KV.KQHOOLQGLHVHP+DQGEX.K]XUH.KWILQGHQYHUZHQGHQZLU6\PEROH XQG$XVGU.NHGLHDXIGHQ7DVWHQXQGLP'LVSOD\YRUKDQGHQVLQG LVWGLHOLQNH)XQNWLRQVWDVWH LVWGLHUH.KWH)XQNWLRQVWDVWH LVWGHUUH.KWH3IHLODXIGHUUXQGHQ&XUVRU7DVWH LVWGHUOLQNH3IHLODXIGHUUXQGHQ&XUVRU7DVWH LVWGHU3IHLOQD.KREHQDXIGHUUXQGHQ&XUVRU7DVWH LVWGHU3IHLOQD.KXQWHQDXIGHUUXQGHQ&XUVRU7DVWH LVWGLH6(1'(7DVWH LVWGLH(1'(7DVWH )XQNWLRQ LVWGLH)XQNWLRQVWDVWHPLWGHUHQWVSUH.KHQGHQ)XQNWLRQVEH]HL.KQXQJ =XP%HLVSLHO,QWHUQHW EHGHXWHWGU.NHQ6LHGLH)XQNWLRQ VWDVWHXQWHUGHP:RUW,QWHUQHW 7HOHIRQEX.K VRZHUGHQGLH:|UWHUGDUJHVWHOOWGLHLP'LVSOD\]XVHKHQVLQG :lKOHQ6LH EHGHXWHWGU.NHQ6LH XQG DXIGHUUXQGHQ&XUVRU7DVWHXP ]XGHPJHZQV.KWHQ0HQSXQNW]XJHKHQXQGEHVWlWLJHQ6LHGLH $XVZDKOLQGHP6LH GU.NHQ =XP%HLVSLHOZlKOHQ6LH7HOHIRQEX.KKHL‰WEHZHJHQ6LHVL.K]XP 0HQSXQNW7HOHIRQEX.KXQGEHVWlWLJHQ6LHLQGHP6LH GU.NHQ 'U.NHQ6LH EHGHXWHWGU.NHQ6LHGLHHQWVSUH.KHQGH7DVWH 'U.NHQ6LH EHGHXWHWGU.NHQ6LHGLH6(1'(7DVWH 'LH$Q]HLJHHOHPHQWHLPJUDILV.KHQ'LVSOD\ ,.RQV ...
  • Seite 7 'DV'LVSOD\]HLJWHEHQIDOOV%X.KVWDEHQXQG=LIIHUQVRZLHGLH7HOHIRQQXPPHUQOLVWH XQG$QZHLVXQJHQIUGHQ%HQXW]HUDQ 'LH,.RQVGLHZlKUHQGGHV%HWULHEVLP'LVSOD\DQJH]HLJWZHUGHQKDEHQIROJHQGH %HGHXWXQJ 6,0 6SHL.KHUZLUGEHQXW]W 7HOHIRQ 6SHL.KHUZLUGEHQXW]W 5RDPLQJ :LUGDQJH]HLJWZHQQGDV7HOHIRQLQHLQHPDQGHUHQ DXVOlQGLV.KHQ 1HW]DQJHPHOGHWLVW .XU]QD.KUL.KWHQDQ]HLJH 606 :LUGDQJH]HLJWZHQQHLQHRGHU PHKUHUH.XU]QD.KUL.KWHQHPSIDQJHQDEHUQR.KQL.KWJHOHVHQZXUGHQ %OLQNW LVWGHU6061D.KUL.KWHQVSHL.KHUYROOXQGNHLQ3ODW]PHKUIUQHXH 1D.KUL.KWHQ 'LH9HUIJEDUNHLWGLHVHU)XQNWLRQLVWYRPMHZHLOLJHQ1HW]EHWUHLEHU DEKlQJLJ 0DLOER[ :LUGDQJH]HLJWZHQQHLQH6SUD.KQD.KUL.KWHPSIDQJHQXQGLQ GHU0DLOER['DWHQEDQNGHV1HW]HVJHVSHL.KHUWZXUGH 'LH9HUIJEDUNHLWGLHVHU)XQNWLRQLVWYRPMHZHLOLJHQ1HW]EHWUHLEHU DEKlQJLJ $QUXIZHLWHUOHLWXQJ =HLJWDQREHLQJHKHQGH$QUXIHGDXHUKDIW XPJHOHLWHWZHUGHQ'LH9HUIJEDUNHLWGLHVHU)XQNWLRQLVWYRPMHZHLOLJHQ 1HW]EHWUHLEHUDEKlQJLJ $NNXSHJHODQ]HLJH :LUGIRUWODXIHQGDQJH]HLJWXPGHQJHJHQZlUWLJHQ /DGH]XVWDQGGHV$NNXVDQ]XJHEHQ(VZHUGHQGUHL/DGH]XVWlQGH DQJH]HLJW OHHU PLWWHO YROO%OLQNW LVWGHU$NNXIDVWOHHU 6WHXHUSIHLOH HUV.KHLQHQLP0HQEHWULHEZHQQZHLWHUH(LQWUlJHLP 0HQYRUKDQGHQVLQGGLHDQJH]HLJWZHUGHQN|QQHQLQGHP RGHU JHGU.NWZLUG0DQ.KPDOZHUGHQEHLGH3IHLOHJOHL.K]HLWLJDQJH]HLJW /HLWXQJ =HLJWDQGD‰GLH]ZHLWH/HLWXQJEHQXW]WZLUG 'LH9HUIJEDUNHLWGLHVHU)XQNWLRQLVWYRPMHZHLOLJHQ1HW]EHWUHLEHUXQGYRQ...
  • Seite 8 (UVWH6.KULWWH 'DPLW6LHVL.KPLW,KUHP7HOHIRQYHUWUDXWPD.KHQN|QQHQIKUHQ6LHGLHIROJHQGHQ HLQID.KHQ6.KULWWHDXV 9RUEHUHLWXQJGHVHUVWHQ$QUXIV 6,0.DUWHHLQOHJHQ 3D.NHQ6LHGDV7HOHIRQDXVXQGOHJHQ6LHGLH6,0.DUWHLQGHQ6,0.DUWHQKDOWHU 'LH6,0.DUWHZLHJH]HLJWYRUVL.KWLJHLQOHJHQ GLH*ROGNRQWDNWH QD.KXQWHQ]HLJHQG  'LH6,0.DUWHLQGHQ6,0.DUWHQKDOWHUHLQGU.NHQELVGLHVHUK|U EDUHLQUDVWHW )DOOVGLH6,0.DUWHIDOV.KKHUXPHLQJHOHJWZLUGRGHUEHV.KlGLJWLVW ZLUG6,0EHUSUIHQDQJH]HLJW1HKPHQ6LHGLH6,0.DUWHZLHGHU KHUDXVXQGD.KWHQ6LHGDUDXIGD‰6LHVLHUL.KWLJKHUXPKDOWHQXQG OHJHQ6LHVLHZLHGHUHLQ $NNXHLQVHW]HQ 'HQ$NNXZLHXQWHQJH]HLJWHLQVHW]HQ 'HQ$NNXZLHJH]HLJWDXIGDV7HOHIRQVHW]HQ 'DVJHJHQEHUOLHJHQGH(QGHGHV$NNXVDXIGDV7HOHIRQGU.NHQ ELVGHU$NNXULHJHOK|UEDUHLQUDVWHW9HUJHZLVVHUQ6LHVL.KGD‰ GHU$NNXUL.KWLJHLQJHVHW]WLVW )DOOVGHU$NNXQL.KWDXVUHL.KHQGDXIJHODGHQLVWXPGDV7HOHIRQEHQXW]HQ]XN|QQHQVREHIROJHQ 6LHELWWHGLH$QZHLVXQJHQ]XP$XIODGHQGHV$NNXVDXI6HLWH...
  • Seite 9 $NNXDEGH.NXQJDXIVHW]HQ 'LH$NNXDEGH.NXQJZLHXQWHQJH]HLJWDXIVHW]HQ 'LH$NNXDEGH.NXQJZLHJH]HLJWDXIGDV7HOHIRQVHW]HQ 'DVJHJHQEHUOLHJHQGH(QGHGHU$NNXDEGH.NXQJDXIGDV7HOH IRQGU.NHQELVGLH5LHJHOGHU$NNXDEGH.NXQJK|UEDUHLQUDVWHW 9HUJHZLVVHUQ6LHVL.KGD‰GLH$NNXDEGH.NXQJUL.KWLJHLQJHVHW]W LVW *UXQGOHJHQGH%HGLHQXQJ (LQV.KDOWHQGHV7HOHIRQV 'U.NHQ6LH XQGKDOWHQ6LHGLH7DVWHJHGU.NW(LQ(LQV.KDOWVL JQDOHUW|QW :HQQGDV0RELOWHOHIRQJHVSHUUWLVWZLUG&RGHDQJH]HLJW *HEHQ6LHGHQYLHUVWHOOLJHQ7HOHIRQVSHUU.RGHHLQXQGGU.NHQ6LH )DOOV,KUH6,0GXU.KHLQHQ3,1&RGHJHV.KW]WLVWZLUG3,1(LQ JDEHDQJH]HLJW *HEHQ6LHGHQ3,1&RGHHLQXQGGU.NHQ6LH2. :HLWHUH(LQ]HOKHLWHQEHU,KUH3,1XQG6SHUU.RGHVHQWQHKPHQ6LHELWWH6HLWHXQG (LQH$QLPDWLRQZLUGLP'LVSOD\DQJH]HLJW %HUHLWV.KDIWVDQ]HLJH +LHUDXIIROJWHLQ5HJLVWULHUXQJVVLJQDOZRUDXIGHU1DPHGHV1HW]HVXQG RGHUGHV'LHQVWHDQELHWHUV]XVDPPHQPLW8KU]HLWXQG'DWXPGHU6LJQDO SHJHOXQGGHU$NNXODGH]XVWDQG$Q]HLJHVRZLHGHQ,QWHUQHWXQG606 )XQNWLRQHQDQJH]HLJWZHUGHQ :LH6LHGLH8KU]HLWXQGGDV'DWXPHLQVWHOOHQHUIDKUHQ6LHDXI6HLWH 'LHVLVWGLHQRUPDOH%HUHLWV.KDIWVDQ]HLJH...
  • Seite 10 (LQHQ$QUXIWlWLJHQ *HEHQ6LHGLHJHZQV.KWH5XIQXPPHUEHUGLH=LIIHUQWDVWHQ XQG HLQ6LHN|QQHQELV]X=LIIHUQHLQJHEHQ )HKOHLQJDEHQN|QQHQ6LHEHUL.KWLJHQLQGHP6LH/|V.KHQ GU.NHQ:HQQ6LHGLHVH7DVWHJHGU.NWKDOWHQZLUGGLH$Q]HLJH YROOVWlQGLJJHO|V.KW 8PGLH1XPPHU]XZlKOHQ VHQGHQ GU.NHQ6LH 1D.K(QWJHJHQQDKPHGHV$QUXIVYHUIROJHQ6LHGDV*HVSUl.KEHUGHQHLQ JHEDXWHQ/DXWVSUH.KHU$X‰HUGHPZLUGHLQ$QUXI7LPHUDQJH]HLJW (LQHQ$QUXIHQWJHJHQQHKPHQ %HLHLQHPDQNRPPHQGHQ$QUXINOLQJHOWGDV7HOHIRQ'LH/('REHQDP7H OHIRQEOLQNWJUQXQGGDVEOLQNHQGH6\PERO ZLUGDQJH]HLJW'LH+LQ WHUJUXQGEHOHX.KWXQJZLUGHEHQIDOOVHLQJHV.KDOWHWIDOOVGDV7HOHIRQVR HLQJHVWHOOWLVWRGHU6WXPPV.KDOWXQJDNWLYLHUWLVW 8PGHQ$QUXIHQWJHJHQ]XQHKPHQ 'U.NHQ6LH %HLP0RGHOO1HSWXQHN|QQHQ6LHGXU.KgIIQHQGHU.ODSSHHLQHQ$QUXIHQWJHJHQQHKPHQ )DOOVGLH/DXWVWlUNHGHV.OLQJHOWRQVDXI1XOO $XV RGHUGDV7HOHIRQDXI9LEUDWLRQVPRGXVJHVWHOOW ZXUGHHUW|QWNHLQK|UEDUHV*HUlXV.K 8PGHQ$QUXIDE]XZHLVHQE]ZGHP$QUXIHUHLQ%HVHW]W]HL.KHQ]XVHQGHQ 'U.NHQ6LH (LQHQ$QUXIEHHQGHQ 'U.NHQ6LH %HLP0RGHOO1HSWXQHN|QQHQ6LHGXU.K6.KOLH‰HQGHU.ODSSHHLQHQ$QUXIEHHQGHQ 1D.KHLQLJHQ6HNXQGHQRGHUZHQQ6LHGLH)XQNWLRQVWDVWHµ(QGHµGU.NHQZLUGGDV'LVSOD\DXI GLH%HUHLWV.KDIWVDQ]HLJH]XU.NJHVHW]W 'DV7HOHIRQDXVV.KDOWHQ 'U.NHQ6LH XQGKDOWHQ6LHGLH7DVWHJHGU.NW (LQ$EV.KDOW6LJQDOWRQEHVWlWLJWGLH$NWLRQ:lKUHQGGHV$XVV.KDO WHQVZLUGHLQH$QLPDWLRQDQJH]HLJW'DQQZLUGGDV0RELOWHOHIRQDE JHV.KDOWHW 6.KDOWHQ6LHGDV7HOHIRQQLHPDOVGXU.K(QWIHUQHQGHV$NNXVDEZHLOGDEHL'DWHQGLHDXIGHU 6,0.DUWHJHVSHL.KHUWZHUGHQPVVHQYHUORUHQJHKHQN|QQHQ:HLWHUH(LQ]HOKHLWHQEHUGLH LQGLYLGXHOOH$QSDVVXQJ,KUHV7HOHIRQVILQGHQ6LHDXI6HLWH...
  • Seite 11 6L.KHUKHLWVLQIRUPDWLRQHQ 6L.KHUKHLWLP)DKU]HXJ ‡ %HD.KWHQ6LHGLHQDWLRQDOHQ9RUV.KULIWHQEHUGLH9HUZHQGXQJYRQ0RELOWHOHIR QHQLQ)DKU]HXJHQ ‡ 6L.KHUKHLWLP6WUD‰HQYHUNHKUKDWLPPHU9RUUDQJ$.KWHQ6LHLPPHUYROOXQG JDQ]DXIGHQ9HUNHKU ‡ %HQXW]HQ6LHGDV0RELOWHOHIRQQL.KWZlKUHQGGHU)DKUW)DOOV6LHQL.KWEHUHLQH )UHLVSUH.KHLQUL.KWXQJYHUIJHQVROOWHQ6LHDQKDOWHQXQG,KU)DKU]HXJVL.KHU SDUNHQEHYRU6LHGDV7HOHIRQEHQXW]HQ ‡ )DOOV,KU)DKU]HXJPLWHLQHUNRUUHNWLQVWDOOLHUWHQ)UHLVSUH.KHLQUL.KWXQJDXVJHVWDW WHWLVWGLHGHQµIUHLKlQGLJHQµ%HWULHEHUODXEWXQG6LHHLQHQ$QUXIWlWLJHQRGHU HQWJHJHQQHKPHQP|.KWHQLPPHUVL.KHUVWHOOHQGD‰GLHVDXIYHUQQIWLJHXQG VL.KHUH:HLVHJHV.KLHKW9HUZHQGHQ6LHP|JOL.KVWQXUYRUSURJUDPPLHUWH1XP PHUQXQGKDOWHQ6LHGLH$QUXIHP|JOL.KVWNXU] ‡ )DOOVGDV*HUlWQL.KWNRUUHNWLQHLQ)DKU]HXJHLQJHEDXWLVWNDQQGLH%HQXW]XQJ HLQHV0RELOWHOHIRQVGLHRUGQXQJVJHPl‰H)XQNWLRQGHU)DKU]HXJHOHNWURQLNZLH HWZDGHV$%66\VWHPVRGHUGHU$LUEDJVEHHLQWUl.KWLJHQ8PVRO.KH3UREOHPH ]XYHUPHLGHQVROOWHQ6LHGDUDXID.KWHQGD‰GLH,QVWDOODWLRQQXUYRQJHV.KXOWHP )D.KSHUVRQDOGXU.KJHIKUWZLUG(LQHhEHUSUIXQJGHU6L.KHUXQJXQGGHU)XQN WLRQGHU)DKU]HXJHOHNWURQLNVROOWH7HLOGHU,QVWDOODWLRQVHLQ,P=ZHLIHOVIDOOIUDJHQ 6LHELWWHGHQ)DKU]HXJKHUVWHOOHU ‡ 1LHPDOVGDV7HOHIRQDXIGHQ%HLIDKUHUVLW]RGHUDQHLQHUDQGHUHQ6WHOOHDEOHJHQ YRQGHUHVVL.KEHLHLQHPSO|W]OL.KHQ%UHPVYRUJDQJRGHUHLQHU.ROOLVLRQO|VHQ N|QQWH,PPHUGLH+DOWHUXQJEHQXW]HQ ‡ 'LH%HQXW]XQJHLQHV:DUQJHUlWV]XU%HGLHQXQJYRQ6.KHLQZHUIHUQRGHU+XSH HLQHV)DKU]HXJVLVWDXI|IIHQWOL.KHQ6WUD‰HQYHUERWHQ 3IOHJHXQG:DUWXQJ 'LHVHV0RELOWHOHIRQLVWHLQKR.KHQWZL.NHOWHVWH.KQRORJLV.KDXVJHIHLOWHV3URGXNW GDVPLW6RUJIDOWEHKDQGHOWZHUGHQVROOWH%HD.KWHQ6LHGLHIROJHQGHQ+LQZHLVHGD PLW6LHYLHOH-DKUHODQJ)UHXGHDQGLHVHP3URGXNWKDEHQ ‡ 6HW]HQ6LHGDV7HOHIRQNHLQHQH[WUHPHQ%HGLQJXQJHQPLWKRKHU7HPSHUDWXU RGHU/XIWIHX.KWLJNHLWDXV ‡...
  • Seite 12 ‡ %ULQJHQ6LHGDV7HOHIRQQL.KWLQGLH1lKHYRQ&RPSXWHUGLVNHWWHQ.UHGLWNDUWHQ RGHUDQGHUHQPDJQHWLV.KHQ0HGLHQ'LHDXIGLHVHQ'DWHQWUlJHUQHQWKDOWHQHQ ,QIRUPDWLRQHQN|QQHQEHV.KlGLJWZHUGHQ ‡ 1LHPDOVLQNRPSDWLEOH3URGXNWHDQV.KOLH‰HQ 'LH%HQXW]XQJYRQQL.KWYRQ0LWVXELVKL(OH.WUL.KHUJHVWHOOWHQRGHUDXWRULVLHUWHQ *HUlWHQRGHU=XEHK|UWHLOHQYRQ'ULWWKHUVWHOOHUQNDQQGLH*DUDQWLH,KUHV7HOHIRQV XQJOWLJPD.KHQXQGHLQ6L.KHUKHLWVULVLNRGDUVWHOOHQ ‡ 1LHPDOVGLH(WLNHWWHQHQWIHUQHQ'LHGDUDXIVWHKHQGHQ=DKOHQVLQGIUGHQ.XQ GHQGLHQVWXQGGDPLWYHUEXQGHQH'LHQVWOHLVWXQJHQZL.KWLJ ‡ )DOOVZLUNOL.KHLQH6W|UXQJRGHUHLQ)HKOHUDXIWUHWHQVROOWHZHQGHQ6LHVL.KELWWH DQHLQDXWRULVLHUWHV6HUYL.H&HQWHU ,Q,KUHPHLJHQHQ,QWHUHVVH 'DV*607HOHIRQLVW,KU(LJHQWXP%HKDQGHOQ6LHHVELWWHVRUJIlOWLJXQGEHD.KWHQ 6LHDOOHJOWLJHQ%HVWLPPXQJHQ'DV7HOHIRQLVWNHLQ6SLHO]HXJ%HZDKUHQ6LHHVGD KHUMHGHU]HLWVL.KHUXQGIU.LQGHUXQ]XJlQJOL.KDXI 0HUNHQ6LHVL.KGHQ6SHUUXQGGHQ3,1&RGHGHV7HOHIRQV 0D.KHQ6LHVL.KPLWGHU9HUZHQGXQJGHU6L.KHUKHLWVPHUNPDOHYHUWUDXWGLHHLQH XQEHUH.KWLJWH9HUZHQGXQJYHUKLQGHUQIDOOV,KU7HOHIRQXQGRGHU,KUH6,0.DUWHQ YHUORUHQJHKHQRGHUJHVWRKOHQZHUGHQ:HQGHQ6LHVL.KELWWHXPJHKHQGDQ,KUHQ 'LHQVWHDQELHWHUXPGLHXQEHIXJWH1XW]XQJGHV*HUlWV]XYHUKLQGHUQ 6SHUUHQ6LHGDV7HOHIRQV.KDOWHQ6LHHVDXVXQGHQWIHUQHQ6LHGHQ$NNXZHQQ6LH GDV*HUlWQL.KWEHQXW]HQ 6L.KHUKHLWV.RGHV 'DV7HOHIRQXQGGLH6,0.DUWHVLQGEHL/LHIHUXQJPLW&RGHVYRUSURJUDPPLHUWGLHGDV 7HOHIRQXQGGLH6,0.DUWHYRUXQEHIXJWHU9HUZHQGXQJV.KW]HQ :HQQ6LH]XU(LQJDEHHLQHV&RGHVDXIJHIRUGHUWZHUGHQJHEHQ6LHGLH=DKOHLQ HU V.KHLQWDOV)ROJHYRQ LP'LVSOD\ XQGGU.NHQDXI 2. (LQJDEHIHKOHUN|QQHQJHO|V.KWZHUGHQLQGHP6LHDXI /|V.KHQ  GU.NHQ :HQQ6LHGHQIDOV.KHQ&RGHHLQJHEHQZLUGHLQHHQWVSUH.KHQGH0HOGXQJDQJH ]HLJW 0LWGHU6,0.DUWHZHUGHQGLHIROJHQGHQ&RGHVJHOLHIHUW 3,1XQG3,1&RGH =LIIHUQ  'LH3,1 3HUVRQDO,GHQWLW\1XPEHU ZLUGPLWDOOHQ6,0.DUWHQJHOLHIHUWXQG V.KW]WGLH.DUWHYRUXQEHIXJWHU%HQXW]XQJ 'HUPLWHLQLJHQ6,0.DUWHQJHOLHIHUWH3,1&RGHLVWHUIRUGHUOL.KXP=X...
  • Seite 13 *HEHQ6LHGHQ38.&RGHHLQZHQQ6LHGD]XDXIJHIRUGHUWZHUGHQXQG GU.NHQ6LH 2. 6LHZHUGHQDXIJHIRUGHUWGHQ3,1&RGHQHXHLQ]XJH EHQ%HIROJHQ6LHGLH$QOHLWXQJDXIGHP'LVSOD\ 'HU38.&RGHLVWHUIRGHUOL.KXP3,1]XHQWVSHUUHQ 9RP'LHQVWHDQELHWHUEHUHLWJHVWHOOWHU&RGH $QUXIVSHUUH3D‰ZRUW =LIIHUQ 'LHVHV3D‰ZRUWZLUGYHUZHQGHWXPHLQH$QUXIVSHUUHIUDEJHKHQGHRGHU DQNRPPHQGH$QUXIHLP0RELOWHOHIRQHLQ]XVWHOOHQ:HLWHUH(LQ]HOKHLWHQ ILQGHQ6LHDXI6HLWH 0DLOER[3D‰ZRUW 'LHVHV3D‰ZRUWV.KW]W6LHJHJHQGHQXQEHIXJWHQ=XJULIIDXI,KUH0DLO ER[ 9RP+HUVWHOOHUEHUHLWJHVWHOOWHU&RGH 7HOHIRQVSHUU.RGH =LIIHUQ 'LHVHU&RGHLVWEHL/LHIHUXQJDXI1XOOJHVHW]WXQGNDQQYRP%HQXW]HUJH lQGHUWZHUGHQ6REDOGHUJHlQGHUWZXUGHNDQQHUQL.KWPHKUYRP+HU VWHOOHUEHUGDV7HOHIRQDXVJHOHVHQZHUGHQ:HLWHUH(LQ]HOKHLWHQILQGHQ 6LHDXI6HLWH 6LHVROOWHQVL.KLQMHGHP)DOOGLHVH&RGHVPHUNHQXQGVL.KPLWGHP =ZH.NXQGGHU(LQJDEHGLHVHU&RGHVYHUWUDXWPD.KHQ 1RWUXIH ,Q(XURSDN|QQHQ6LHPLWGHUHXURSDZHLWHQ1RWUXIQXPPHU1RWUXIHGXU.KIK UHQZHQQGDV7HOHIRQLP*601HW]HLQJHEX.KWLVW1RWUXIHVLQGDX.KGDQQP|J OL.KZHQQGDV7HOHIRQEHUGLH3,1RGHUHOHNWURQLV.KJHVSHUUWRGHUGLH$QUXIVSHUUH DNWLYLHUWLVW,QHLQLJHQ/lQGHUQN|QQHQLQ1RWIlOOHQZHLWHUKLQORNDOH1RWUXIQXP PHUQEHQXW]WZHUGHQGDV0RELOWHOHIRQPX‰KLHU]XMHGR.KJJIHLQHJOWLJH6,0 .DUWHHQWKDOWHQ :HQQ6LHHLQHQ1RWUXIYRUQHKPHQVROOWHQ6LHDOOHEHQ|WLJWHQ,QIRUPDWLRQHQP|J OL.KVWSUl]LVHDQJHEHQ'DV7HOHIRQLVWP|JOL.KHUZHLVHGDVHLQ]LJH.RPPXQLNDWL RQVPLWWHOLQHLQHP1RWIDOO%HHQGHQ6LHGDKHUGDV*HVSUl.KQL.KWEHYRU6LHGD]X DXIJHIRUGHUWZHUGHQ 0RELOWHOHIRQHJUHLIHQDXI)XQNXQG)HVWQHW]YHUELQGXQJHQ]XGHUHQ)XQNWLRQVW.KWLJNHLWQL.KW XQWHUDOOHQ8PVWlQGHQJDUDQWLHUWZHUGHQNDQQ$XVGLHVHP*UXQGHVROOWHQ6LHVL.KIU1RWIDOOJHV SUl.KHQLHPDOVDXVV.KOLH‰OL.KDXI)XQNWHOHIRQHYHUODVVHQ (QWVRUJXQJGHV9HUSD.NXQJVPDWHULDOV 'LHIUGLHVHV7HOHIRQYHUZHQGHWH9HUSD.NXQJLVWDXVUH.\.OLQJIlKLJHP0DWHULDO KHUJHVWHOOWXQGVROOWHGDKHUJHPl‰GHQJHOWHQGHQQDWLRQDOHQ8PZHOWV.KXW]EHGLQ JXQJHQHQWVRUJWZHUGHQ %LWWHWUHQQHQ6LH.DUWRQXQG.XQVWVWRIIHOHPHQWHXQGHQWVRUJHQ6LHVLHRUGQXQJV JHPl‰...
  • Seite 14 9RUEHUHLWXQJGHV7HOHIRQV 6,0.DUWH %HYRU6LHGDV7HOHIRQEHQXW]HQN|QQHQPX‰HLQHJOWLJH6,0.DUWHLQGLH6,0.DU WHQKDOWHUXQJHLQJHOHJWZHUGHQ )DOOVNHLQH6,0.DUWHYRUKDQGHQRGHUGLHVHIDOV.KHLQJHVHW]WLVWHUV.KHLQWGLH0HO GXQJ6,0EHUSUIHQZHQQGDV7HOHIRQHLQJHV.KDOWHWZLUG6LHKHGD]X6,0 .DUWHHLQOHJHQDXI6HLWH $NNX (LQVHW]HQ 6LHKHGD]X$NNXHLQVHW]HQDXI6HLWH +HUDXVQHKPHQ :LHXQWHQJH]HLJWDXIGHQ5LHJHOGHU$NNXDEGH.NXQJGU.NHQ $NNXDEGH.NXQJIHVWKDOWHQXQGDEQHKPHQ $NNXIHVWKDOWHQXQGDEQHKPHQ 5LHJHOGHU $NNXDEGH.NXQJ :DUQXQJEHLOHHUHP$NNX :HQQGLH$NNX6SDQQXQJGHQQLHGULJVWHQ3HJHOHUUHL.KWKDWHUV.KHLQWGLH 0HOGXQJ$NNXOHHUXQGHVHUW|QWHLQµ$NNXOHHUµ6LJQDO )DOOV6LHVL.KJHUDGHLQHLQHP*HVSUl.KEHILQGHQEHHQGHQ6LHGLHVHVXQG V.KDOWHQGDV7HOHIRQDXVLQGHP6LH JHGU.NWKDOWHQ /DGHQ6LHGHQ$NNXZLHXQWHQJH]HLJWZLHGHUDXIRGHUHUVHW]HQ6LHLKQ GXU.KHLQHQDXIJHODGHQHQ 6.KDOWHQ6LHGDV7HOHIRQQL.KWGXU.K(QWIHUQHQGHV$NNXVDXV 'DGXU.KN|QQWHQYRQGHU6,0.DUWH]XVSHL.KHUQGH'DWHQYHUORUHQJHKHQ...
  • Seite 15 $XIODGHQ 8PHLQHODQJH/HEHQVGDXHU,KUHV$NNXVVL.KHU]XVWHOOHQODGHQ6LHLKQQXU ZHQQGLH0HOGXQJ$NNXOHHUHUV.KHLQWXQGGDVµ$NNXOHHUµ6LJQDOHU W|QW 6.KOLH‰HQ6LHGDV/DGHJHUlWZLHJH]HLJWDQGDV7HOHIRQDQ :HQQ6LHGHQ6WH.NHULQGHQ1HW]DQV.KOX‰GHV7HOHIRQV HLQVWH.NHQPX‰GDV7ULXP/RJR QD.KREHQ ZHLVHQ 6.KOLH‰HQ6LHGDV/DGHJHUlWDQHLQHU6WH.NGRVHDQ'HU$NNXZLUGMHW]W DXIJHODGHQ 'DV7HOHIRQNDQQZlKUHQGGHV/DGHYRUJDQJVEHQXW]WZHUGHQDOOHUGLQJV YHUOlQJHUWVL.KKLHUGXU.KGLH/DGH]HLW /DGHDQ]HLJHQEHLDXVJHV.KDOWHWHP7HOHIRQ :lKUHQGGHV/DGHYRUJDQJVZLUG$NNXZLUGJH ODGHQDQJH]HLJW'LH/('OHX.KWHWGDEHLURW 1D.K%HHQGLJXQJGHV/DGHYRUJDQJVZLUG$NNX YROOVWlQGLJJHODGHQDQJH]HLJWXQGGLH/(' OHX.KWHWQXQJUQ /DGHDQ]HLJHQEHLHLQJHV.KDOWHWHP7HOHIRQ :lKUHQGGHV/DGHQVEOLQNWGDV$NNX6LJQDOXQ XQWHUEUR.KHQPLW%DONHQ1D.K%HHQGL JXQJGHV/DGHYRUJDQJVHUV.KHLQHQGUHL IHVWVWHKHQGH%DONHQ%HLHLQJHV.KDOWHWHP7HOHIRQ ZLUGGLH/('QL.KWDOV/DGHDQ]HLJHYHUZHQGHW )DOOVZlKUHQGGHV/DGHQVHLQ$QUXIHLQJHKW EOLQNWGLH/('LQV.KQHOOHP5K\WKPXVJUQ :lKUHQGGHV/DGHYRUJDQJVZLUGGHU$NNXZDUPZDVXQEHGHQNOL.KLVW $P(QGHGHVO/DGHYRUJDQJVGDV/DGHJHUlWYRP7HOHIRQWUHQQHQ VLHKHXQ WHQ DEV.KDOWHQXQGGHQ1HW]VWH.NHUDXVGHU6WH.NGRVH]LHKHQ...
  • Seite 16 7\SLV.KH /DGH]HLWHQ PLW GHP 6WH.NHUQHW]WHLO 0$ RGHU 0$  $NNXW\S 7\SLV.KH/DGH]HLWHQ 6WDQGDUGDNNX 0$ 6WG *HEUDX.KVXQG6L.KHUKHLWVLQIRUPDWLRQHQ]XP$NNX (LQ$NNXNDQQ+XQGHUWH0DOHQHXDXIJHODGHQZHUGHQZLUGLP/DXIHGHU =HLWMHGR.KV.KZl.KHU:HQQGLH%HWULHEV]HLW %HUHLWV.KDIWXQG*H VSUl.KV]HLW GHXWOL.KNU]HUDOVQRUPDOZLUGVROOWHQ6LHHLQHQQHXHQ$NNX NDXIHQ ‡ /DVVHQ6LH$NNXVQL.KWOlQJHUDOVQ|WLJLP/DGHJHUlWhEHUODGHQYHU NU]WGLH$NNX/HEHQVGDXHU ‡ 7UHQQHQ6LHGDV/DGHJHUlWYRQGHU6WURPYHUVRUJXQJZHQQHVQL.KWLQ %HWULHELVW ‡ 6HW]HQ6LHGHQ$NNXNHLQHQKRKHQ7HPSHUDWXUHQRGHUKRKHU/XIWIHX.K WLJNHLWDXV ‡ :HUIHQ6LHGHQ$NNX]XP(QWVRUJHQQL.KWLQV)HXHU(UNDQQH[SORGLH UHQ ‡ %ULQJHQ6LHGHQ$NNXQL.KWLQ.RQWDNWPLW0HWDOOJHJHQVWlQGHQGLHGLH $NNX$QV.KOVVHNXU]V.KOLH‰HQN|QQHQ ]%6.KOVVHO%URNODPPHUQ 0Q]HQ.HWWHQXVZ  ‡ /DVVHQ6LHGHQ$NNXQL.KWIDOOHQXQGYHUPHLGHQ6LHVWDUNH6W|‰H ‡ 9HUVX.KHQ6LHQL.KWHLQHQ$NNX]X]HUOHJHQ ‡ 9HUZHQGHQ6LHQXUHPSIRKOHQH$NNX/DGHJHUlWH VLHKH6HLWH  ‡ )DOOVGLH$NNXNRQWDNWHYHUV.KPXW]WVLQGUHLQLJHQ6LHVLHPLWHLQHP ZHL.KHQ7X.K ‡...
  • Seite 17 *UXQGOHJHQGH%HGLHQXQJ (LQV.KDOWHQ%HUHLWV.KDIWVDQ]HLJHXQG$EV.KDOWHQ GHV7HOHIRQV (LQV.KDOWHQGHV7HOHIRQV 'U.NHQ6LH XQGKDOWHQ6LHGLH7DVWHJHGU.NW (LQ(LQV.KDOWVLJQDO HUW|QW :HQQGDV0RELOWHOHIRQJHVSHUUWLVWZLUG &RGH DQJH]HLJW *HEHQ6LHGHQYLHUVWHOOLJHQ 7HOHIRQVSHUU.RGHHLQXQGGU.NHQ6LH )DOOV,KUH6,0GXU.KHLQHQ3,1&RGHJHV.KW]WLVWZLUG 3,1(LQJDEH  DQJH]HLJW *HEHQ6LHGHQ3,1&RGHHLQXQGGU.NHQ6LH 2. :HLWHUH(LQ]HOKHLWHQEHU,KUH3,1XQG6SHUU.RGHVILQGHQ6LHDXI6HLWHXQG (LQH$QLPDWLRQZLUGLP'LVSOD\DQJH]HLJW+LHUDXIIROJWHLQ5HJLVWULH UXQJVVLJQDOZRUDXIGHU1DPHGHV1HW]HVXQGRGHUGHV'LHQVWHDQELH WHUV]XVDPPHQPLW8KU]HLWXQG'DWXPGHU6LJQDOSHJHOXQGGHU $NNXODGH]XVWDQG$Q]HLJHVRZLHGHQ ,QWHUQHW XQG 606 )XQNWLRQHQ DQJH]HLJWZHUGHQ 'LHVLVWGLHQRUPDOH%HUHLWV.KDIWVDQ]HLJH 'DV7HOHIRQLVWMHW]WEHUHLW$QUXIH]XHPSIDQJHQRGHU]XVHQGHQXQG]DKO UHL.KH)XQNWLRQHQDXV]XIKUHQ ,QGHU%HUHLWV.KDIWVDQ]HLJH GU.NHQXPGLUHNWHQ=XJDQJ]XGHQLP7H OHIRQEX.KJHVSHL.KHUWHQ5XIQXPPHUQ]XHUODQJHQ'XU.K'U.NHQYRQ JHODQJHQ6LHLQGDV0HQ'XU.K'U.NHQYRQ JHODQJHQ6LH]XU/DXWVWlU NHUUHJHOXQJ:HQQ6LH GU.NHQZLUGGDV.OLQJHOQEHLHLQJHKHQGHQ$Q UXIHQVWXPPJHV.KDOWHW'XU.K'U.NHQHLQHUGHU=LIIHUQWDVWHQ XQG HUV.KHLQWGLHEHWUHIIHQGH1XPPHULQGHU$Q]HLJH'XU.K'U.NHQ ZLUGGLHDQJH]HLJWH1XPPHUJHZlKOWZlKUHQGGXU.K'U.NHQYRQ...
  • Seite 18 'U.NHQ6LH (QWVS  XQG :HQQDXIGLHUH.KWH)XQNWLRQVWDVWHHLQHDQGHUH)XQNWLRQSURJUDPPLHUWZXUGHZLUGGLH7DVWDWXUVSHUUH GXU.K*HGU.NWKDOWHQGHU7DVWHJHE]ZHQWVSHUUW:HLWHUH(LQ]HOKHLWHQ]XU7DVWDWXUVSHUUHILQGHQ 6LHDXI6HLWH  ,QWHUQHW 'U.NHQ6LH ,QWHUQHW  LQGHU%HUHLWV.KDIWVDQ]HLJHXPDXIGDV,QWHUQHW +DXSWPHQ]X]XJUHLIHQYRQZRDXV6LHGLH+RPHSDJH,KUHV1HW]EHWUHL EHUVDQZlKOHQN|QQHQ:HLWHUH(LQ]HOKHLWHQEHUGLHVH)XQNWLRQHQILQGHQ 6LHDXI6HLWH 1D.KUL.KWHQ 606 'XU.K'U.NHQYRQ 606  LQGHU%HUHLWV.KDIWVDQ]HLJHJHODQJHQ6LHLQGDV 6060HQPLWGHQVHOEHQ)XQNWLRQHQDXIGLH6LHDX.KEHUGDV+DXSWPH Q]XJUHLIHQ(LQ]HOKHLWHQEHUGLHYHUIJEDUHQ)XQNWLRQHQLQGLHVHP0HQ ILQGHQ6LHDXI6HLWH +LQWHUJUXQGEHOHX.KWXQJ 'LH+LQWHUJUXQGEHOHX.KWXQJLVWQRUPDOHUZHLVHDXV:HQQHLQH7DVWHJH GU.NWZLUGZLUGGLH+LQWHUJUXQGEHOHX.KWXQJIUGLH$Q]HLJHXQGGLH7D VWDWXUIU6HNXQGHQHLQJHV.KDOWHW%HLHLQHPDQNRPPHQGHQ$QUXIZLUG GLH+LQWHUJUXQGEHOHX.KWXQJHLQJHV.KDOWHWXQGEOHLEWQR.KIU6HNXQGHQ QD.K$QQQDKPHGHV*HVSUl.KVHLQJHV.KDOWHW $EV.KDOWHQGHV7HOHIRQV 'U.NHQ6LH XQGKDOWHQ6LHGLH7DVWHJHGU.NW (LQ$EV.KDOW6LJQDOWRQEHVWlWLJWGLH$NWLRQ:lKUHQGGHV$XVV.KDOWHQV ZLUGHLQH$QLPDWLRQDQJH]HLJW'DQQZLUGGDV0RELOWHOHIRQDEJHV.KDO WHW 6.KDOWHQ6LHGDV7HOHIRQQLHPDOVGXU.K(QWIHUQHQGHV$NNXVDEZHLOGDEHL'DWHQGLHDXIGHU6,0 .DUWHJHVSHL.KHUWZHUGHQPVVHQYHUORUHQJHKHQN|QQHQ $QUXIHQXQG$QUXIHHQWJHJHQQHKPHQ 6LHN|QQHQQXUGDQQ$QUXIHPLW,KUHP7HOHIRQWlWLJHQXQGDQQHKPHQZHQQGLHVHV HLQJHV.KDOWHWXQGHQWVSHUUWLVWEHUHLQHJOWLJH6,0.DUWHYHUIJWXQGVL.KLQHL QHP*HELHWPLW*601HW]YHUVRUJXQJEHILQGHW.DQQGDV7HOHIRQNHLQ1HW]ILQGHQ EOHLEWGLH$Q]HLJHOHHU...
  • Seite 19 ‡ %HVHW]W LQGHU$Q]HLJHZHLVWGDUDXIKLQGD‰GLH5XIQXPPHUEHVHW]W LVW)DOOVGLHDXWRPDWLV.KH:DKOZLHGHUKROXQJHLQJHV.KDOWHWLVW YHUVX.KWGDV7HOHIRQHUQHXWGLH9HUELQGXQJKHU]XVWHOOHQ ‡ 1L.KW]XJHODVVHQ )L[QXPPHUQZDKO LQGHU$Q]HLJHEHGHXWHW GD‰GLHJHZlKOWH5XIQXPPHUQL.KWYRQGHU)'1/LVWH]XJHODVVHQLVW ‡ :HQQGLHJHZlKOWH1XPPHUHLQHPLP7HOHIRQEX.KJHVSHL.KHUWHQ (LQWUDJHQWVSUL.KWHUV.KHLQWGHU1DPHGHUDQJHUXIHQHQ3HUVRQLP 'LVSOD\ ‡ 1D.K+HUVWHOOHQGHU9HUELQGXQJHUV.KHLQW VRIHUQGHU'LHQVW]XU 9HUIJXQJVWHKW GDV6\PERO/HLWXQJ XQG]HLJWDQGD‰GLH 9HUELQGXQJEHUGLHVH/HLWXQJ]XVWDQGHJHNRPPHQLVW $QUXIEHHQGHQ 'U.NHQ6LH 'LH5XIGDXHUDQ]HLJHZLUGDQJHKDOWHQXQG YHUV.KZLQGHW1D.KHLQL JHQ6HNXQGHQRGHUZHQQ6LHGLH)XQNWLRQVWDVWH (QGH  GU.NHQZLUG GDV'LVSOD\DXIGLH%HUHLWV.KDIWVDQ]HLJH]XU.NJHVHW]W %HLP0RGHOO1HSWXQHZLUGHLQ$QUXIGXU.K6.KOLH‰HQGHU.ODSSHEHHQGHW NDQQMHQD.K9HUVLRQ XQWHUV.KLHGOL.KVHLQ  $QUXIHQWJHJHQQHKPHQ %HLHLQHPDQNRPPHQGHQ$QUXINOLQJHOWGDV7HOHIRQ'LH/('REHQDP7HOH IRQEOLQNWJUQGLH+LQWHUJUXQGEHOHX.KWXQJZLUGHLQJHV.KDOWHWXQGGDV EOLQNHQGH6\PERO DQJH]HLJW)DOOVGLH/DXWVWlUNHGHV.OLQJHO]HL.KHQV DXI1XOO DXV RGHUGDV7HOHIRQDXI 9LEUDWLRQVDODUPJHVWHOOWZXUGHHUW|QW NHLQK|UEDUHV*HUlXV.K 8PGHQ$QUXIHQWJHJHQ]XQHKPHQ 'U.NHQ6LH :LUG 7RQDXV  JHGU.NWVWRSSWGDV.OLQJHOVLJQDOVRGD‰6LHGDV7H OHIRQVWXPPV.KDOWHQXQGGHQ5DXPYHUODVVHQN|QQHQEHYRU6LH GU.NHQ...
  • Seite 20 1lKHUHVVLHKH6HLWH  8PGHQ$QUXI]XEHHQGHQ 'U.NHQ6LH )DOOVGLH5XIQXPPHUGHV$QUXIHUVYHUIJEDULVWZLUGVLHLP5HJLVWHUIU HPSIDQJHQH$QUXIHJHVSHL.KHUW %HLP0RGHOO1HSWXQHZLUGHLQ$QUXIGXU.K6.KOLH‰HQGHU.ODSSHEHHQGHW NDQQMHQD.K9HUVLRQ XQWHUV.KLHGOL.KVHLQ 1L.KWHQWJHJHQJHQRPPHQH$QUXIH0DLOER[XQG QHXH6061D.KUL.KWDQ]HLJHQ$Q]HLJH ‡ :XUGHQ$QUXIHQL.KWHQWJHJHQJHQRPPHQHUV.KHLQW 'U.NHQ6LH  /HVHQ XPGLH5XIQXPPHUQIDOOVYHUIJEDUVRZLH'DWXPXQG8KU]HLWGHV $QUXIHLQJDQJVDQ]X]HLJHQ'U.NHQ6LH  XPGLH1XPPHUDQ]XUXIHQ1L.KW HQWJHJHQJHQRPPHQH$QUXIHZHUGHQLQHLQHP5HJLVWHUJHVSHL.KHUW ‡ :HQQ6LHGDUDXIKLQJHZLHVHQZHUGHQGD‰HLQH6SUD.KQD.KUL.KWLQ,KUHU0DLOER[ DEJHOHJWZXUGHHUW|QWHLQ:DUQVLJQDOXQG ZLUGLP'LVSOD\DQJH]HLJW'UN NHQ6LH /HVHQ  XPGLH1D.KUL.KW]XOHVHQRGHUGU.NHQ6LH XPEHU.XU] ZDKO,KUH0DLOER[=HQWUDOHDQ]XUXIHQ +LQZHLV)DOOVPHKUDOVHLQH$Q]HLJHHUV.KHLQWGU.NHQ6LH /HVHQ  XPLQ HLQHP0HQ]ZLV.KHQYHUV.KLHGHQHQ0|JOL.KNHLWHQ]XZlKOHQ ‡ %HLP(PSIDQJHLQHUQHXHQ6061D.KUL.KWHUW|QWHLQ:DUQVLJQDOXQG HUV.KHLQW'U.NHQ6LH /HVHQ  XPGLH.XU]QD.KUL.KWHQLQGHU(LQJDQJVER[]X OHVHQ :HQQ EOLQNWPVVHQ6LHPLQGHVWHQVHLQHDOWH1D.KUL.KWO|V.KHQEHYRU6LH QHXH1D.KUL.KWHQHPSIDQJHQN|QQHQ...
  • Seite 21 6SHL.KHUZDKO -HGHLQGHU6,0RGHULP7HOHIRQVSHL.KHUJHVSHL.KHUWH1XPPHUGLHDXIGHP'LVSOD\ DQJH]HLJWZHUGHQNDQQNDQQJHZlKOWZHUGHQ YRP7HOHIRQEX.KDXV 'U.NHQ6LH XPGLH1DPHQVOLVWH]X|IIQHQ 9HUZHQGHQ6LH RGHU XP]XGHUJHZQV.KWHQ)XQNWLRQ]X JHKHQ 'U.NHQ6LH +DQGHOWHVVL.KXPHLQHQ .RQWDNWLP6,06SHL.KHU RGHUHLQHQ .RQWDNWLP7HOHIRQVSHL.KHUPLWHLQHU]XJHRUGQHWHQ1XP PHU ZLUGGLHVH1XPPHUJHZlKOW %HLHLQHP .RQWDNWLP7HOHIRQVSHL.KHUGHPPHKUHUH1XP PHUQ]XJHRUGQHWVLQG YHUZHQGHQ6LH RGHU XP]XU JHZQV.KWHQ1XPPHU]XJHKHQGU.NHQ6LHDQV.KOLH‰HQG 'LH JHZQV.KWH1XPPHUZLUGJHZlKOW 6LHKHGD]X7HOHIRQEX.KDXI6HLWH YRQGHU6SHL.KHUOLVWHGHV$QUXIUHJLVWHUVDXV 'LHOHW]WHQ]HKQJHZlKOWHQ1XPPHUQGLH5XIQXPPHUQGHUOHW]WHQ]HKQ QL.KWHQWJHJHQJHQRPPHQHQ$QUXIH IDOOVYHUIJEDU XQGGLH5XIQXPPHUQ GHUOHW]WHQ]HKQHQWJHJHQJHQRPPHQHQ$QUXIHZHUGHQYRP7HOHIRQLP 6SHL.KHUGHV$QUXIUHJLVWHUVJHVSHL.KHUW :lKOHQ6LH $QUXIH'DXHU  'U.NHQ6LH :lKOHQ6LH $QUXIUHJLVWHU  :lKOHQ6LH /HW]WH$QUXIH  1L.KWDQJHQRPPHQ RGHU $QJH QRPPHQ  9HUZHQGHQ6LH RGHU...
  • Seite 22 .XU]ZDKO $OOHDXIGHU6,0.DUWHJHVSHL.KHUWHQ5XIQXPPHUQN|QQHQGHQ.XU]ZDKOWDVWHQ ]XJHRUGQHWZHUGHQ 'U.NHQ6LHGLH7DVWH XQGKDOWHQ6LHVLHJHGU.NW'LH1XPPHU ZLUGLP'LVSOD\DQJH]HLJWXQGGDQQQRUPDOJHZlKOW 6WDQGDUGPl‰LJLVW LPPHUPLWGHU0DLOER[QXPPHUYHUNQSIW:LH GLH5XIQXPPHUQGHQ.XU]ZDKOWDVWHQ]XJHRUGQHWZHUGHQHUIDKUHQ6LH DXI6HLWH 5XIWRQDEV.KDOWHQXQG9LEUDWLRQVDODUP %HL%HGDUIN|QQHQVLHGLH.OLQJHOXQG$ODUPW|QHDEVWHOOHQXPDQGHUHQL.KW]XVW| UHQ (LQV.KDOWHQ 'U.NHQ6LH :lKOHQ6LH .HLQ5XIWRQ  9LEUDWLRQVDODUP RGHU 9LEUGDQQ NOLQJHOQ  ZLUGDQJH]HLJWZHQQGHU5XIWRQDEJHV.KDOWHWLVW ZLUGDQJH]HLJW ZHQQ 9LEUDWLRQVDODUP RGHU 9LEUGDQQNOLQJHOQ DNWLYLHUWLVW $EV.KDOWHQ 'U.NHQ6LH :lKOHQ6LH 5XIWRQ  )DOOVGLH.OLQJHO]HL.KHQODXWVWlUNHDXIJHVWHOOWLVWHUV.KHLQWHLQH:DUQXQJLP'LVSOD\ 'HU0RGXV.HLQ5XIWRQZLUGEHLP$XVV.KDOWHQGHV7HOHIRQVQL.KWJHVSHL.KHUW 6LHKHGD]X:DUQPRGXVDXI6HLWH )UHLVSUH.KIXQNWLRQ %HLHLQHU%HVSUH.KXQJ ZHQQGLHDQGHUHQDQZHVHQGHQ3HUVRQHQDP*HVSUl.KWHLO QHKPHQVROOHQ RGHULQ,KUHP)DKU]HXJN|QQHQ6LHGLH)UHLVSUH.KIXQNWLRQQXW]HQ (LQV.KDOWHQGHU)UHLVSUH.KIXQNWLRQ :HQQ6LHHLQHQ$QUXIWlWLJHQ...
  • Seite 23 $XVV.KDOWHQGHV0LNURIRQV 'U.NHQ6LH 2SW :lKOHQ6LH 0LNUR$XV XQGGDQQ -D ,P'LVSOD\HUV.KHLQWNXU]HLQH :DUQPHOGXQJ HUV.KHLQWDPREHUHQ%LOGV.KLUPUDQG (LQV.KDOWHQGHV0LNURIRQV 'U.NHQ6LH 2SW 'U.NHQ6LH 0LNUR(LQ ,P'LVSOD\HUV.KHLQWNXU]HLQH:DUQPHO GXQJ YHUV.KZLQGHW 'DV0LNURIRQZLUGEHL(LQJDQJHLQHVQHXHQ$QUXIVDXWRPDWLV.KZLHGHUHLQJHV.KDOWHW /DXWVWlUNHHLQVWHOOXQJ 8PGLH/DXWVWlUNHZlKUHQGHLQHV*HVSUl.KV]XlQGHUQ 9HUZHQGHQ6LH RGHU XPGLH/DXWVWlUNHLQVLHEHQ6WXIHQ]X YHUULQJHUQRGHU]XHUK|KHQZLHLP'LVSOD\DQJH]HLJW 'U.NHQ6LH (QGH  RGHUZDUWHQ6LH]ZHL6HNXQGHQXP]XUYRU KHULJHQ$Q]HLJH]XU.N]XNHKUHQ 6LHKHGD]X/DXWVWlUNHHLQVWHOOHQDXI6HLWH 0)97|QHVHQGHQ 0)97|QHZHUGHQYHUZHQGHWXPDXI$QUXIEHDQWZRUWHU0DLOER[.RPSXWHULVLHUWHV +RPH%DQNLQJXVZ]X]XJUHLIHQ'LHVH7|QHVLQGHLQ9HUIDKUHQIUGLH:HLWHUJDEH YRQ3D‰Z|UWHUQXQG5.NUXIQXPPHUQ 0DQXHOO 0|.KWHQ6LHZlKUHQGGHV*HVSUl.KV0)97|QHGLUHNWEHUGLH7DVWDWXUHLQ JHEHQ 'U.NHQ6LHGLHHUIRUGHUOL.KHQ7DVWHQ 'LH7|QHVLQGLP/DXWVSUH.KHU]XK|UHQXQGZHUGHQGLUHNWJHVHQGHW $XWRPDWLV.K 8PZlKUHQGHLQHV*HVSUl.KVHLQH6HTXHQ]YRQ0)97|QHQ]XVHQGHQ 'U.NHQ6LH 2SW ...
  • Seite 24 3DXVHIXQNWLRQ 7HOHIRQQXPPHUQXQGHLQH6HTXHQ]YRQ0)97|QHQN|QQHQ]XVDPPHQLP'LVSOD\ HLQJHJHEHQRGHULP6SHL.KHUJHVSHL.KHUWZHUGHQZHQQ6LHGXU.KHLQH3DXVHJH WUHQQWZHUGHQ(LQH3DXVHZLUGGXU.K'U.NHQXQG+DOWHQYRQ HLQJHJHEHQ'HU %X.KVWDEH S HUV.KHLQWLP'LVSOD\(VNDQQHLQHEHOLHELJH$Q]DKOYRQ3DXVHQ]XVDP PHQPLWPD[LPDO=HL.KHQJHVSHL.KHUWZHUGHQ MHQD.K6SHL.KHUNDSD]LWlWGHU 6,0.DUWHXQGGHV7HOHIRQV  $QUXISDUNHQXQG]XU.NKROHQ 8PHLQHQ$QUXIZlKUHQGHLQHV*HVSUl.KV]XSDUNHQ 'U.NHQ6LH 8PHLQHQ$QUXI]XU.N]XKROHQ 'U.NHQ6LH 8PHLQHQ]ZHLWHQ$QUXI]XWlWLJHQZlKUHQGHLQ$QUXIJHSDUNWLVW *HEHQ6LHHLQH5XIQXPPHUHLQ'U.NHQ6LH XPGLH1XPPHU]X ZlKOHQ 1D.K+HUVWHOOHQGHU]ZHLWHQ9HUELQGXQJGU.NHQ6LH XP]ZL V.KHQGHQ$QUXIHQ]XZH.KVHOQ 8PHQWZHGHUGDVDNWLYHRGHUGDVJHSDUNWH*HVSUl.K]XEHHQGHQ ZlKOHQ6LHLP 2SW 0HQ $NWLYEHHQGHQ RGHU 3DUNHQEHHQGHQ  'HUYHUEOHLEHQGH$QUXIZLUGDXWRPDWLV.K]XU.NJHKROW 'U.NHQ6LH XPGHQDQGHUHQ$QUXI]XEHHQGHQ 'XU.K'U.NHQYRQ N|QQHQEHLGH*HVSUl.KHJOHL.K]HLWLJEHHQGHWZHUGHQ 'LHDOWHUQDWLYH0HWKRGHHLQHQ$QUXI]XSDUNHQXQG]XU.N]XKROHQXQG HLQHQ]ZHLWHQ$QUXIZlKUHQGGHV*HVSUl.KV]XWlWLJHQEHVWHKWGDULQ GLH 2SW )XQNWLRQ ]XQXW]HQXPHLQ0HQPLWGHQREHQJHQDQQ WHQ$NWLRQHQDQ]X]HLJHQ*HKHQ6LH]XUJHZQV.KWHQ2SWLRQXQG GU.NHQ6LH :DKO  RGHU...
  • Seite 25 $NWLRQEHL(PSIDQJHLQHV]ZHLWHQ$QUXIV :HQQHLQ]ZHLWHU$QUXIDQNRPPWK|UHQ6LHHLQHQGRSSHOWHQ3LHSWRQLP 'LVSOD\ZLUGHLQ7HOHIRQV\PEROHLQJHEOHQGHWVRZLHGLH7HOHIRQQXPPHU ZHQQYHUIJEDU 'U.NHQ6LHQXQHQWZHGHU XPGHQ$QUXIHQWJHJHQ ]XQHKPHQXQGGHQHUVWHQ$QUXI]XSDUNHQRGHU $EOHKQ  XPGHQ$Q UXIDE]XOHKQHQXQGGHP$QUXIHUHLQ%HVHW]W]HL.KHQ]XVHQGHQ'U.NHQ6LH XP]ZLV.KHQGHQEHLGHQ$QUXIHQXP]XV.KDOWHQ .RQIHUHQ]IXQNWLRQHQ 0LWGLHVHU)XQNWLRQN|QQHQ6LH]ZHLELVIQI *HVSUl.KHJOHL.K]HLWLJIKUHQ EHLGHQHQDOOH7HLOQHKPHUVL.KJHJHQVHLWLJK|UHQXQGPLWHLQDQGHUVSUH.KHQ N|QQHQ 6WHOOHQ6LHHLQH9HUELQGXQJDXIJHZRKQWH:HLVHKHUXQGGUNNHQ 6LH *HEHQ6LHHLQHZHLWHUH1XPPHUHLQXQGGU.NHQ6LH  'HUHUVWH $QUXIZLUGQXQJHSDUNWZlKUHQGGHU]ZHLWH$QUXIDNWLYZLUG 'U.NHQ6LH 2SW   XPIROJHQGHV0HQ]X|IIQHQ 2SWLRQ %HV.KUHLEXQJ $XWR0)9 (UODXEWGLH(LQJDEHHLQHU0)96HTXHQ]MHGR.K QXUIUGHQDNWLYHQ$QUXI :H.KVHOQ :H.KVHOW]ZLV.KHQGHPDNWLYHQXQGGHP JHSDUNWHQ$QUXI 9HUELQGHQ 9HUELQGHWGHQDNWLYHQXQGGHQJHSDUNWHQ$QUXI ]XHLQHP.RQIHUHQ]JHVSUl.K 0LNUR(LQ0LNUR$XV 6.KDOWHWGDV0LNURIRQHLQE]ZDXV 3DUNHQEHHQGHQ %HHQGHWGDVJHSDUNWH*HVSUl.K $NWLYEHHQGHQ...
  • Seite 26 'DV0HQV\VWHP 00, ,KU7HOHIRQHQWKlOW)XQNWLRQHQXQG0HUNPDOHGLHEHUHLQOHL.KWYHUVWlQGOL.KHV0H QV\VWHP]XJlQJOL.KVLQG 0HQSXQNWHXQG'LHQVWHZHUGHQWHLOZHLVHEHU,KUH6,0.DUWHJHVWHXHUWXQGVLQG GDPLWDEKlQJLJYRQ,KUHP1HW]E]Z'LHQVWHDQELHWHU1L.KWDERQQLHUWH'LHQVWH N|QQHQYRQGHU6,0.DUWHJHVWHXHUWDXVJHEOHQGHWVHLQ =XJDQJ]XGHQ0HQV 9RQGHU%HUHLWV.KDIWVDQ]HLJHDXVN|QQHQ6LHGLUHNWDXIDOOHLP7HOHIRQEX.KJHVSHL .KHUWHQ1XPPHUQ]XJUHLIHQLQGHP6LH GU.NHQ8PYRQGHU%HUHLWV.KDIWVDQ ]HLJHDXVGDV+DXSWPHQ]X|IIQHQGU.NHQ6LH 9HUZHQGHQ6LH RGHU XP]XGHUJHZQV.KWHQ)XQNWLRQ]XJHKHQ $OOHDQGHUHQ)XQNWLRQHQXQG0HUNPDOHZHUGHQGDQQDXVJHZlKOWLQGHP6LH RGHU:DKO GU.NHQ8P]XPYRUKHULJHQ0HQ]XU.N]XNHKUHQGUN NHQ6LH RGHUNXU]DXI(QGH 8PGLH0HQV]XYHUODVVHQGU.NHQXQGKDOWHQ 6LH/|V.KHQ RGHU IDOOVNHLQ*HVSUl.KJHIKUWZLUG 0HQVWUXNWXU ,QWHUQHW %URZVHU 6WDUWHQ 1HW]GLHQVWH /HVH]HL.KHQ ‡$QZHQGXQJHQ $QGHUH6HLWH ‡'LHQVWH 3URILOOLVWH ‡,QIRUPDWLRQ (LQVWHOOXQJHQ 6SLHOH 7HOHIRQEX.K 5HVKDSH ‡$XIUXI 3XVK ‡6SHL.KHUQ 2SW ‡1R.KIUHL...
  • Seite 27 7H[WHLQJDEH )UEHVWLPPWH)XQNWLRQHQ]%6SHL.KHUQYRQ1DPHQLP6SHL.KHURGHU9HUVHQGHQ YRQ6067H[WQD.KUL.KWHQPVVHQ6LHZLVVHQZLH6LH7H[WDXIGHP'LVSOD\HLQJH EHQXQGEHDUEHLWHQ $XIGHU$Q]HLJHHUV.KHLQWLP0RGXV.OHLQEX.KVWDEHQ XQG LP0RGXV*UR‰ EX.KVWDEHQ7H[WXQG=HL.KHQN|QQHQGDQQGLUHNWEHUGDV7DVWHQIHOGHLQJHJHEHQ RGHUEHDUEHLWHWZHUGHQ (VJLEW]ZHL0HWKRGHQ7H[WXQG=LIIHUQLQGLH$Q]HLJHHLQ]XJHEHQ'LH0XOWLWDS RGHU0XOWLSUHVV0HWKRGHXQGGLHV.KQHOOHUHLQWHOOLJHQWHLQWXLWLYH0HWKRGHQDPHQV 77H[WHLQJDEHEHLGHULQVJHVDPWZHQLJHU7DVWHQ]XGU.NHQVLQGDOVEHLGHU0XO WLWDS0HWKRGH 77H[WHLQJDEH 'LHVLVWGLH6WDQGDUGPHWKRGHIUGLHIUHLH7H[WHLQJDEH 'U.NHQ6LHDXI XP]ZLV.KHQGHU77H[WHLQJDEHXQGGHUQRUPDOHQ 0XOWLWDS0HWKRGHXP]XV.KDOWHQ %HGLHQXQJLP77H[WHLQJDEHPRGXV 'LH7DVWHPLWGHPJHZQV.KWHQ%X.KVWDEHQLQGHU5HLKHQIROJH GHU%X.KVWDEHQGHV:RUWHVMHZHLOVQXUHLQPDOGU.NHQ /DVVHQ6LHVL.KQL.KWVW|UHQZHQQGDVJHZQV.KWH=HL.KHQQL.KW VRIRUWDQJH]HLJWZLUG 'DVDNWLYH:RUWlQGHUWVL.KZlKUHQG6LHV.KUHLEHQWLSSHQ6LH GDKHUGDVJHVDPWH:RUWHLQ )DOOVGDV:RUWQL.KWDQJH]HLJWZLUGGU.NHQ6LH IUDQGHUH HQWVSUH.KHQGH:|UWHU )DOOV,KU:RUWQL.KWHUNDQQWZLUGGU.NHQ6LHDXI XP]XU0XO WLWDS0HWKRGH]XZH.KVHOQXQGGDV:RUW]XYHUYROOVWlQGLJHQ 9HUZHQGHQ6LH RGHU XPGHQ&XUVRUGRUWLP7H[W]XSRVL WLRQLHUHQZR=HL.KHQHLQJHIJWRGHU.RUUHNWXUHQGXU.KJHIKUW ZHUGHQVROOHQ 7LSSVXQG%HGLHQXQJ 7DVWH $NWLRQ 8PVWHOOXQJ*UR‰.OHLQV.KUHLEXQJ /|V.KHQRGHU5.NV.KULWW /|V.KHQ /DQJHGU.NHQ...
  • Seite 28 ‡ 'U.NHQ6LH +DZLUGDQJH]HLJW ‡ 'U.NHQ6LH +DWZLUGDQJH]HLJW ‡ 'U.NHQ6LH +DXVZLUGDQJH]HLJW )DOOVGDVDQJH]HLJWH:RUWQL.KW,KUHQ:QV.KHQHQWVSUL.KWGU.NHQ VRRIWZLHQ|WLJXP,KU:XQV.KZRUW]XVHKHQ ‡ 'U.NHQ6LH XPGLHVHV%HLVSLHO]XYHUODVVHQXQG]XU%HUHLWV.KDIWVDQ ]HLJH]XU.N]XNHKUHQ 'LH0XOWLWDS0XOWLSUHVV0HWKRGH 'U.NHQ6LHDXI XP]ZLV.KHQGHU77H[WHLQJDEHXQGGHU0XOWLWDS 0HWKRGHXP]XV.KDOWHQ %HLHLQHPNXU]HQ'UX.NDXIHLQHGHU7DVWHQZLUGGHUHUVWHPLWGLHVHU7DVWH YHUEXQGHQH%X.KVWDEHDQJH]HLJWZlKUHQGGLHDQGHUHQYHUIJEDUHQ %X.KVWDEHQLQGHUHUVWHQ=HLOHGHV'LVSOD\VVWHKHQ 'LHMHQD.K6SUD.KHYHUIJEDUHQ=HL.KHQZHUGHQLQGHUIROJHQGHQ7DEHOOH JH]HLJW 7DVWH =HL.KHQ .OHLQ *UR‰  #" DE.l $%&b GHI '() JKL *+, MNO -./ PQR| 012g STUV‰ 3456‰...
  • Seite 29 )DOOV]ZHL=HL.KHQGHUVHOEHQ7DVWH]XJHZLHVHQVLQGZDUWHQ6LHELVGLH$Q ]HLJHDPREHUHQ%LOGV.KLUPUDQGYHUV.KZLQGHWRGHUGU.NHQ6LH EHYRU 6LHGLHVHOEH7DVWHHUQHXWGU.NHQ =XU)HKOHUNRUUHNWXUGU.NHQ6LHNXU]DXI/|V.KHQ (LQOlQJHUHU'UX.N DXIGLH7DVWHO|V.KWGHQJHVDPWHQHLQJHJHEHQHQ7H[W 9HUZHQGHQ6LH RGHU XPGHQ&XUVRULP7H[W]XSRVLWLRQLHUHQZR =HL.KHQHLQJHIJWRGHU.RUUHNWXUHQGXU.KJHIKUWZHUGHQVROOHQ :HQQ6LH GU.NHQXQGKDOWHQZHUGHQ,KQHQ6RQGHU]HL.KHQDXI 'LVSOD\VHLWHQDQJH]HLJW$Q]HLJHXQG$XVZDKOGHU=HL.KHQHUIROJHQIRO JHQGHUPD‰HQ 8PHLQ=HL.KHQDXV]XZlKOHQXQGLQGHQ7H[WHLQ]XIJHQ 'LH=HL.KHQVLQGVRDQJHRUGQHWZLHGLH =HL.KHQGHV7D VWHQIHOGV ,QGLHVHP%HLVSLHOZUGH EHLHLQHP'UX.NDXI DXVJHZlKOW XQGGLUHNWLQGHQ7H[WHLQJHIJW 'U.NHQ6LH RGHU XP]XUQl.KVWHQ6HLWH]XJHODQJHQ %HLVSLHO 8P+DXVLQGDV'LVSOD\HLQ]XJHEHQ ‡ 'U.NHQ6LH XQGZlKOHQ6LH0LWWHLOXQJHQ ‡ :lKOHQ6LH1HXV.KUHLEHQ ‡ 'U.NHQ6LH YHUV.KZLQGHW ‡ 'U.NHQXQGKDOWHQ6LH ELV DQJH]HLJWZLUG'U.NHQ6LH]ZHLPDO NXU] ELV+DXIGHU$Q]HLJHHUV.KHLQW ‡...
  • Seite 30 1HW]GLHQVWH ,KU1HW]EHWUHLEHUELHWHW0HKUZHUWGLHQVWHVRZLH,QIRUPDWLRQVQXPPHUQ'LHVH'LHQ VWHXQG7HOHIRQQXPPHUQZHUGHQLQ,KUHU6,0JHVSHL.KHUWXQGVWHKHQ IDOOVYHUIJ EDU LP0HQXQWHUGHP%HIHKO1HW]GLHQVWHDP$QIDQJGHV0HQV]XU9HUIJXQJ (LQ]HOKHLWHQHUIDKUHQ6LHEHL,KUHP'LHQVWHDQELHWHU  (VJLEWGUHL0|JOL.KNHLWHQIUHLQHQ'LHQVWHDQELHWHUVHLQH0HKUZHUWGLHQVWHXQG ,QIRUPDWLRQVQXPPHUQ]XSUlVHQWLHUHQ 6,0$QZHQGXQJVNLW (LQHDXWRPDWLV.KH0HWKRGHQHW]ZHUNVSH]LILV.KH DOVRQL.KWWHOHIRQVSH]L ILV.KH 'LHQVWHDQ]XELHWHQ'LHVH'LHQVWHVLQG6,0DEKlQJLJ $XIGHU6,0JHVSHL.KHUWH6'11XPPHUQ (VN|QQHQELV]X1XPPHUQGLHQL.KWYRP%HQXW]HUJHlQGHUWZHUGHQ N|QQHQDXIGHU6,0JHVSHL.KHUWZHUGHQ ,QIRUPDWLRQVQXPPHUQ (LQH/LVWHRGHUHLQ0HQLQGHP6LH1HW]RGHU,QIRUPDWLRQVGLHQVWH,KUHV 1HW]HVDEUXIHQN|QQHQ (LQLJH1HW]EHWUHLEHUXQWHUVWW]HQGHUREHQHUZlKQWHQ'LHQVWHPLWGHUJOHL.KHQ 6,0.DUWH,QGLHVHP)DOOILQGHQ6LHLP+DXSWPHQGLH,QIRUPDWLRQHQ]X1HW]GLHQ VWHQLQ]ZHLYHUV.KLHGHQHQ8QWHUPHQV$QZHQGXQJHQXQG'LHQVWHRGHU,Q IRUPDWLRQ...
  • Seite 31 7HOHIRQEX.K 'LH6,0XQGGDV7HOHIRQEHVLW]HQ6SHL.KHUEHUHL.KHGLH]XP6SHL.KHUQYRQ1DPHQ XQG7HOHIRQQXPPHUQGLHQHQGLHDOV7HOHIRQEX.KEH]HL.KQHWZHUGHQ 'DV7HOHIRQXQWHUVWW]WHEHQIDOOV6,0.DUWHQPLWELV]X6SHL.KHUP|JOL.KNHLWHQ JHQDQQW6,07HOHIRQEX.KHLQWUlJH GHUHQ$Q]DKOXQG6SHL.KHUNDSD]LWlWDEHU YRQGHU6,0VHOEVWDEKlQJHQ'LHVH.DUWHQHQWKDOWHQIROJHQGH,QIRUPDWLRQHQ'DV 6,07HOHIRQEX.KNDQQNHLQHHUZHLWHUWHQ.DUWHQVSHL.KHUQ 'LH7HOHIRQXQG6,06SHL.KHUSOlW]HVLQGPLWHLQDQGHUYHUEXQGHQ 6RZRKOGLH6,0DOVDX.KGLH7HOHIRQ6SHL.KHUSOlW]HZHUGHQGXU.KVX.KWZHQQGLH $EUXIHQ)XQNWLRQJHZlKOWZLUG 1DPHQXQG7HOHIRQQXPPHUQVSHL.KHUQ 1DPHQXQG1XPPHUQN|QQHQGLUHNWLP7HOHIRQEX.KJHVSHL.KHUWZHUGHQ RGHUYRQHLQHPDQGHUHQ6SHL.KHUEHUHL.KZLH6061D.KUL.KWHQ1RWL]EOR.N RGHU/LVWHGHU]XOHW]WJHZlKOWHQ1XPPHUQXVZEHUQRPPHQZHUGHQ (VZLUGHPSIRKOHQGLH1XPPHUQLPLQWHUQDWLRQDOHQ)RUPDWPLW GHP¶·3UlIL[JHIROJWYRQGHU7HOHIRQQXPPHU]XVSHL.KHUQ6R LVWVL.KHUJHVWHOOWGD‰6LHGLH1XPPHUVRZRKOYRQ,KUHP/DQGDOV DX.KYRP$XVODQGDXVDQUXIHQN|QQHQ 'LH7H[WHLQJDEHZLUGDXI6HLWHEHV.KULHEHQ (VJLEWPHKUHUH0|JOL.KNHLWHQ5XIQXPPHUQLQGHQYHUV.KLHGHQHQ7HOH IRQE.KHUQ]XVSHL.KHUQ 7HOHIRQEX.KGHV7HOHIRQV ‡ 'LUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJHDXV *HEHQ6LHGLH1XPPHUHLQ'U.NHQ6LH6SHL.KHUQ :lKOHQ6LH 7HOHIRQVHJP *HEHQ6LHGHQ1DPHQXQGGLH7HOHIRQQXPPHUHLQ%HVWlWLJHQ 6LHMHGH(LQJDEHPLW2. (LQH%HVWlWLJXQJ,KUHU(LQJDEHXQGGLHYHUEOHLEHQGHQ6SHL.KHU SOlW]HZHUGHQNXU]DQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ‡ $QKDQGGHV0HQV 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH 6SHL.KHUQ :lKOHQ6LH 7HOHIRQVHJP...
  • Seite 32 VLQGN|QQHQDOOHLP7HOHIRQEX.KJHVSHL.KHUWZHUGHQ =HLJHQ6LHHLQHGLHVHU1XPPHUQDQGU.NHQ6LHGDQQDXI 2SW )ROJHQ6LHGHQ$QZHLVXQJHQGHVYRUKHULJHQ$EV.KQLWWV %HLGHU(LQJDEHGHU1XPPHUXQGGHV1DPHQVN|QQHQ6LHGXU.KHLQNXU]HV'U.NHQDXI/|V.KHQ GDVOHW]WH=HL.KHQO|.KHQ'XU.KOlQJHUHV'U.NHQZLUGGLHJHVDPWH$Q]HLJHJHO|V.KW 6,07HOHIRQEX.K ‡ 'LUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJHDXV *HEHQ6LHGLH1XPPHUHLQ'U.NHQ6LH6SHL.KHUQ :lKOHQ6LH 6,0.DUWH %HVWlWLJHQ6LHGLH1XPPHUGXU.K'U.NHQDXI2. *HEHQ6LHGHQ1DPHQ IDOOVHUIRUGHUOL.K HLQXQGGU.NHQ6LH (LQH%HVWlWLJXQJ,KUHU(LQJDEHXQGGLHYHUEOHLEHQGHQ6SHL.KHU SOlW]HZHUGHQNXU]DQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ‡ $QKDQGGHV0HQV 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH 6SHL.KHUQ :lKOHQ6LH 6,0.DUWH *HEHQ6LHGLH1XPPHUHLQXQGGU.NHQ6LH2. *HEHQ6LH GHQ1DPHQHLQXQGGU.NHQ6LH2. (LQH%HVWlWLJXQJ,KUHU(LQJDEHXQGGLHYHUEOHLEHQGHQ6SHL.KHU SOlW]HZHUGHQNXU]DQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ‡ 9RQDQGHUHQ6SHL.KHUVWHOOHQDXV 'LH5XIQXPPHUQGLHXQWHUOHW]WHJHZlKOWHHQWJHJHQJHQRPPHQHXQG XQEHDQWZRUWHWH1XPPHUQ1RWL]EOR.NXQG6061D.KUL.KWDXIJH]HL.KQHW VLQGN|QQHQDOOHLP7HOHIRQEX.KJHVSHL.KHUWZHUGHQ =HLJHQ6LHHLQHGLHVHU1XPPHUQDQXQGGU.NHQ6LH2SW...
  • Seite 33 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH 1R.KIUHLXQGYHUZHQGHQ6LH RGHU XPGLH UHVWOL.KHQ6SHL.KHUSOlW]HLQGHU6,0RGHULP7HOHIRQDQ]X]HL 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ )DOOVYHUIJEDUZHUGHQDX.KGLHIUHLHQ6SHL.KHUSOlW]HLQGHU)'1/LVWHDQJH]HLJW 1XPPHUQLP7HOHIRQEX.KHLQVHKHQXQGDQUXIHQ 7HOHIRQEX.KHLQWUlJHN|QQHQLP'LVSOD\DQJH]HLJWZHUGHQXPEHDUEHLWHW JHO|V.KWNRSLHUWYHUV.KREHQRGHUYRP7HOHIRQEX.KE]ZGHU6,0DXVDQ JHUXIHQ]XZHUGHQ(VJLEW]ZHL0|JOL.KNHLWHQGLH1XPPHUQLP7HOHIRQ EX.KHLQ]XVHKHQXQGDQ]XUXIHQ ‡ 'LUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJHDXV 'U.NHQ6LH XPGLH7HOHIRQEX.KOLVWHHLQ]XVHKHQ ‡ $QKDQGGHV0HQV 'U.NHQ6LH XQGZlKOHQ6LH7HOHIRQEX.K :lKOHQ6LH$XIUXI 'U.NHQ6LHHQWZHGHU2. RGHUJHEHQ6LHELV]X$QIDQJV EX.KVWDEHQGHVJHZQV.KWHQ1DPHQVHLQXQGGU.NHQ6LH )DOOVNHLQ$QIDQJVEX.KVWDEHHLQJHJHEHQZXUGHZLUGGHUQD.KDOSKD EHWLV.KHU5HLKHQIROJHHUVWH(LQWUDJGHV7HOHIRQEX.KVDQJH]HLJW'LH /LVWHGHU7HOHIRQEX.KHLQWUlJHZLUGLQDOSKDEHWLV.KHU5HLKHQIROJH]X VDPPHQPLWGHUMHZHLOLJHQ7HOHIRQQXPPHUXQGGHP6SHL.KHUSODW] 6,0RGHU7HOHIRQ DQJH]HLJW 'U.NHQ6LH XPGLH1XPPHU]XZlKOHQ 'U.NHQ6LH RGHU XPGXU.KGLH(LQWUlJHGHV7HOHIRQEX.KV]X EOlWWHUQ8PGLUHNW]XHLQHPDQGHUHQ(LQWUDJ]XJHKHQGU.NHQ6LH GLHHQWVSUH.KHQGH$OSKDEHWKWDVWH8PEHLVSLHOVZHLVHGLUHNW]XGHQ (LQWUlJHQ]XJHKHQGLHPLW1EHJLQQHQGU.NHQ6LH ]ZHLPDO...
  • Seite 34 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ $Q]HLJHGHUHLJHQHQ1XPPHU 'DV7HOHIRQNDQQ,KUH/HLWXQJ0RELOWHOHIRQQXPPHUDQ]HLJHQGLH0R ELOWHOHIRQQXPPHUIU/HLWXQJ $OWHUQDWH/LQH6HUYL.H VRZLH,KUH'DWHQ XQG)D[QXPPHU'LHVH1XPPHUQ IDOOVYHUIJEDU VLQGLQGHU6,0JHVSHL .KHUW)DOOVQL.KWN|QQHQVLHPDQXHOODEJHVSHL.KHUWZHUGHQ'HQ1XP PHUQN|QQHQ1DPHQ]XJHZLHVHQZHUGHQVRNDQQ]%/HLWXQJDOV %UREH]HL.KQHWZHUGHQXVZ 8P,KUHHLJHQHQ1XPPHUQHLQ]XVHKHQ]XEHQHQQHQXQG]XEHDUEHLWHQ 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH(LJHQH1XPPHUQ'LH0RELOWHOHIRQQXPPHUIU /HLWXQJZLUGDQJH]HLJW 9HUZHQGHQ6LH RGHU XPGLH1XPPHUQIU/HLWXQJ 'DWHQXQG)D[]XVHKHQ 8PHLQHQ1DPHQRGHUHLQH1XPPHUKLQ]X]XIJHQRGHU]X EHDUEHLWHQGU.NHQ6LH%HDUE 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ )L[QXPPHUQZDKO )'1 )L[QXPPHUQZDKOLVWHLQH)XQNWLRQGLHDXVJHKHQGH$QUXIHDXIIHVWVWH KHQGH1XPPHUQRGHU3UlIL[HEHV.KUlQNWGLHDXI6,0.DUWHQJHVSHL .KHUWVLQGGLHGLHVH)XQNWLRQXQWHUVWW]HQ:HQQGLH)XQNWLRQDNWLYLHUWLVW LVWHVQL.KWP|JOL.K1XPPHUQ]XZlKOHQGLHQL.KWLQGHU)'1/LVWHVWH KHQ'LHPD[LPDOH$Q]DKOYRQ)'11XPPHUQGLHJHVSHL.KHUWZHUGHQ N|QQHQKlQJWYRQGHU.DSD]LWlWGHU6,0.DUWHDE$QUXIXPOHLWXQJXQG 6HQGHQYRQ6061D.KUL.KWHQDQ1XPPHUQGLHQL.KWLQGHU)'1VWHKHQ ZHUGHQYHUKLQGHUW'DV(LQV.KDOWHQGHU)XQNWLRQXQGGLH(LQJDEHYRQ 1XPPHUQLQGLH)'1/LVWHLVWGXU.KGHQ3,1&RGHJHV.KW]W =XP(LQE]Z$XVV.KDOWHQGHU)'1)XQNWLRQ 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH%HVWLPPWH:DKO:lKOHQ6LH6WDWXV :lKOHQ6LH(LQRGHU$XV*HEHQ6LHGHQ3,1&RGHHLQ 'U.NHQ6LH2.
  • Seite 35 8P1XPPHUQLQGHU)'1/LVWHHLQ]XJHEHQ]XEHDUEHLWHQRGHU]XO|V.KHQ 'U.NHQ6LH :lKOHQ6LH7HOHIRQEX.K :lKOHQ6LH%HVWLPPWH:DKO :lKOHQ6LH1HXHKLQ]XIJHQ6LHZHUGHQ]XU(LQJDEHGHV 3,1&RGHVDXIJHIRUGHUWZHQQGLHVQL.KWV.KRQJHV.KHKHQLVW 1XQN|QQHQ6LHQHXH1XPPHUQHLQIJHQXQGEHVWHKHQGH 1XPPHUQEHDUEHLWHQO|V.KHQXQGLQGDV7HOHIRQRGHUGLH6,0 NRSLHUHQ ,QGHU)'1/LVWHJHVSHL.KHUWH1XPPHUQN|QQHQPLW3ODW]KDOWHU)UHLVWHOOHQYHUVHKHQZHUGHQ6R LVWHVEHLVSLHOVZHLVHEHLHLQHP(LQWUDJBBP|JOL.KDOOH1XPPHUQYRQ ELVDQ]XUXIHQ'LH1XPPHUNDQQEHDUEHLWHWXQGLQGHU%HUHLWV.KDIWVDQ ]HLJHJHZlKOWZHUGHQ...
  • Seite 36 1D.KUL.KWHQ 606 'HU6061D.KUL.KWHQGLHQVWHUP|JOL.KWHV,KQHQNXU]H7H[WQD.KUL.KWHQYRQELV]X =HL.KHQDQDQGHUH0RELOWHOHIRQHGLHEHUGLHVH)XQNWLRQYHUIJHQ]XVHQGHQ RGHUYRQVRO.KHQ0RELOWHOHIRQHQ]XHPSIDQJHQ'LH1D.KUL.KWHQZHUGHQQL.KWGL UHNWDQGDVDQGHUH0RELOWHOHIRQEHUPLWWHOWVRQGHUQJHKHQEHUHLQH1D.KUL.KWHQ ]HQWUDOHGHV1HW]ZHUNEHWUHLEHUV6LHN|QQHQHEHQIDOOV1D.KUL.KWHQVSHL.KHUQ EHDUEHLWHQXQGZHLWHUOHLWHQVRZLHGLHJJILQGHQ1D.KUL.KWHQHQWKDOWHQHQ1XP PHUQDEVSHL.KHUQ /HVHQHLQHUHPSIDQJHQHQ6061D.KUL.KW :HQQGDV7HOHIRQHLQH6061D.KUL.KWHPSIlQJWHUW|QWHLQ606$ODUPVL JQDOXQG ZLUGDQJH]HLJW'LH1D.KUL.KWZLUGDXWRPDWLV.KDXIGHU6,0 .DUWHJHVSHL.KHUW)DOOV EOLQNWLVWDXIGHU6,0NHLQ6SHL.KHUSODW]PHKU IUGLH1D.KUL.KWYRUKDQGHQ/|V.KHQ6LHlOWHUH1D.KUL.KWHQXP3ODW]IU QHXH]XPD.KHQ 'U.NHQ6LH/HVHQ XPDOOHHPSIDQJHQHQ1D.KUL.KWHQ]XOHVHQ (LQJDQJVER[  *HVSHL.KHUWH6061D.KUL.KWHQOHVHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH(LQJDQJVER[XPGLH.RSI]HLOHGHUHUVWHQ1D.K UL.KW]XVHKHQ 'U.NHQ6LH RUZlKOHQ6LH2SW 7H[WOHVHQXPGHQ7H[W GHU1D.KUL.KW]XOHVHQ (VLVWQXQP|JOL.KVlPWOL.KHJHVSHL.KHUWHQ1D.KUL.KWHQ]XOHVHQ%HQXW ]HQ6LHGLH3IHLOWDVWHQXP]ZLV.KHQ6HLWHQRGHU1D.KUL.KWHQ]XEOlWWHUQ 8QJHOHVHQH1D.KUL.KWHQVLQGGXU.K JHNHQQ]HL.KQHWEHUHLWVJHOHVHQH GXU.K 9HUZDOWXQJGHUHPSIDQJHQHQXQGJHVSHL.KHUWHQ6061D.KUL.KWHQ :HQQ6LHGLH6061D.KUL.KWJHOHVHQKDEHQGU.NHQ6LH 2SW )ROJHQ GHV0HQZLUGDQJH]HLJW (LQWUDJ )XQNWLRQ 7H[WOHVHQ =HLJWGHQ5HVWGHV7H[WHVDQ /|V.KHQ...
  • Seite 37 'DV$ODUPVLJQDOHLQRGHUDXVV.KDOWHQ %HLMHGHP(PSIDQJHLQHUQHXHQ1D.KUL.KWHUW|QWHLQ606$ODUPVLJQDO8P GLHVHV6LJQDOHLQRGHUDXV]XV.KDOWHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH$ODUP:lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 9RUEHUHLWXQJGHV7HOHIRQVXP6061D.KUL.KWHQ]XVHQGHQ 6LHN|QQHQ7H[WQD.KUL.KWHQYHUIDVVHQXQGVHQGHQ%HYRU6LHGLHVWXQN|QQHQ PX‰GLH1XPPHUGHU1D.KUL.KWHQ]HQWUDOHGHV1HW]ZHUNVJHVSHL.KHUWZHUGHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ]HQWUXP )DOOVHLQH1XPPHUDQJH]HLJWZLUGEHGHXWHWGLHVGD‰GLH1XPPHUGL UHNWDXVGHQDXIGHU6,0JHVSHL.KHUWHQ'DWHQJHODGHQZXUGH)DOOVNHL QH1XPPHUDQJH]HLJWZLUGJHEHQ6LHGLH1XPPHUPDQXHOOLP LQWHUQDWLRQDOHQ)RUPDWHLQRGHUUXIHQ6LHVLHYRQHLQHP6SHL.KHUSODW] 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ %HL%HGDUIN|QQHQ6LHHEHQIDOOVGLH*OWLJNHLWVGDXHUGDV)RUPDWGLH%H ]DKOXQJGHU$QWZRUWDQJHEHQXQGHLQHQ%HUL.KWEHUGLH=XVWHOOXQJGHU 1D.KUL.KWEHDQWUDJHQ)DOOVGLHVH(LQVWHOOXQJHQQL.KWYRUJHQRPPHQZHU GHQZHUGHQ6WDQGDUGZHUWHYHUZHQGHW 2SWLRQ %HV.KUHLEXQJ 6WDQGDUGZHUW /HJWGLH'DXHUGHU6SHL.KHUXQJLQ 0D[LPXP GHU1D.KUL.KWHQ]HQWUDOHELV]XU *OWLJNHLW $XVOLHIHUXQJIHVW 6WXQGHQ  7DJ7DJHRGHU0D[LPXP YRP 1HW]EHWUHLEHUIHVWJHOHJW :DKOP|JOL.KNHLWGHV)RUPDWVGHV 7H[W...
  • Seite 38 7H[WHQWZUIHZHUGHQLP6SHL.KHUGHV0RELOWHOHIRQVJHVSHL.KHUW 8PHLQHQ7H[WHQWZXUI]XHUVWHOOHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH7H[WHQWZUIH :lKOHQ6LHHLQHOHHUH9RUODJH >@ XQGGU.NHQ6LH%HDUE *HEHQ6LHGHQ7H[WHQWZXUIHLQXQGGU.NHQ6LH2. 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ (LQHQ7H[WHQWZXUIEHDUEHLWHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :kKOHQ6LH7H[WHQWZUIH :lKOHQ6LHGHQ7H[WHQWZXUIGHQ6LHYHUlQGHUQP|.KWHQXQG GU.NHQ6LH%HDUE %HDUEHLWHQ6LHGHQ7H[WXQGGU.NHQ6LH2. 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ (LQHQHXH6061D.KUL.KWDQHLQH$GUHVVHVHQGHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH1HXV.KUHLEHQ 6LHN|QQHQHQWZHGHUHLQHQ7H[WHQWZXUIZlKOHQRGHUGHQ1D.K UL.KWHQWH[WHLQJHEHQXQG2. GU.NHQ :lKOHQ6LH6HQGHQ :lKOHQ6LHHLQH1D.KUL.KWHQYRUODJHXQGJHEHQ6LHGDQQGLH 5XIQXPPHUHLQRGHUZlKOHQ6LH1DPHQ XPHLQH5XIQXP PHUXQWHUGHQ7HOHIRQEX.KHLQWUlJHQ]XZlKOHQ 'U.NHQ6LH XP,KUH:DKO]XEHVWlWLJHQ'U.NHQ6LH 6LHHUKDOWHQHLQH%HVWlWLJXQJEHUGDV6HQGHQGHU1D.KUL.KW :lKOHQ6LHRE6LHVSHL.KHUQRGHUHLQHDQGHUH1D.KUL.KWVHQGHQ P|.KWHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ...
  • Seite 39 'U.NHQ6LH XP,KUH:DKO]XEHVWlWLJHQ'U.NHQ6LH 6LHHUKDOWHQHLQ%HVWlWLJXQJEHUGDV6HQGHQGHU1D.KUL.KWHQ :lKOHQ6LHRE6LHVSHL.KHUQRGHUHLQHDQGHUH1D.KUL.KWVHQGHQ P|.KWHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ (LQHQHXH6061D.KUL.KWVSHL.KHUQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH1HXV.KUHLEHQ 6LHN|QQHQHQWZHGHUHLQHQ7H[WHQWZXUIZlKOHQRGHUGHQ1D.K UL.KWHQWH[WHLQJHEHQXQG2. GU.NHQ :lKOHQ6LH6SHL.KHUQ :lKOHQ6LHRE6LHVSHL.KHUQRGHUHLQHDQGHUH1D.KUL.KWVHQGHQ P|.KWHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 1D.KUL.KWHQLQGHU3RVWDXVJDQJVER[ 'LH3RVWDXVJDQJVER[HQWKlOWJHV.KULHEHQHJHVSHL.KHUWHXQGQR.KQL.KW JHVHQGHWH1D.KUL.KWHQHEHQVREHUHLWVJHVHQGHWHXQGJHVSHL.KHUWH1D.K UL.KWHQJHNHQQ]HL.KQHWMHZHLOVGXU.KLKUH.RSI]HLOHQ'LHVH1D.KUL.KWHQ N|QQHQLP3RVWDXVJDQJVER[0HQJHZlKOWXQGDOV606.XU]QD.KUL.KWLQ JHZRKQWHU:HLVHHUQHXWYHUVHQGHWZHUGHQ 8PHLQH3RVWDXVJDQJVER[1D.KUL.KW]XZlKOHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ :lKOHQ6LH3RVWDXVJDQJVER[XQGYHUZHQGHQ6LH RGHU XP]XUJHZQV.KWHQ1D.KUL.KW]XJHKHQ1D.KUL.KWHQZHUGHQ HQWZHGHUDOVJHVHQGHW RGHU]XVHQGHQ JHNHQQ ]HL.KQHW 'U.NHQ6LH2SW XPHLQH1D.KUL.KW]XOHVHQ]XO|V.KHQ HLQHQ6WDWXVEHUL.KWDQ]XIRUGHUQDQHLQH$GUHVVH HUQHXW ]X VHQGHQHLQHJHVHQGHWH1D.KUL.KW]XEHDUEHLWHQXQGDQPHK...
  • Seite 40 (LQWUDJ $NWLRQ /|V.KWGLHHQWVSUH.KHQGH6061D.KUL.KWXQG 1D.KU O|V.KHQ GHQ6WDWXVEHUL.KW (PSIDQJGHV6WDWXVEHUL.KWEHVWlWLJHQXQG$Q /|V.KHQ ]HLJHO|V.KHQ 0LWWHLOXQJXQG =HLJWGLHHQWVSUH.KHQGHJHVHQGHWH1D.KUL.KW 6WDWXV (UQHXWVHQGHQ 6HQGHWGLHVHOEH1D.KUL.KWHUQHXW :lKOHQ6LHGLHJHZQV.KWH$NWLRQXQGGU.NHQ6LH2. :LHGHUYHUZHQGEDUH1D.KUL.KWHQYRUODJHQ )DOOV,KU1HW]EHWUHLEHU6,0VOLHIHUWDXIGHQHQGHU%HQXW]HUYRUSURJUDP PLHUWH1D.KUL.KWHQYRUODJHQDEVSHL.KHUQNDQQHUV.KHLQW 0LWWHLOXQJV YRUODJHQLP0LWWHLOXQJHQ(LQVWHOOXQJHQ0HQ'LH1D.KUL.KWHQ9RU ODJHQ 1D.KU9RUO VLQGYRUSURJUDPPLHUWH(LQVWHOOXQJHQGLHEHLP6HQGHQ YRQ1D.KUL.KWHQYHUZHQGHWZHUGHQ-HGHUGLHVHU9RUODJHQNDQQHLQH%H ]HL.KQXQJ]XJHZLHVHQZHUGHQGDPLWVLHOHL.KWHUHUNDQQWXQGEHL%HGDUI YHUZHQGHWZHUGHQN|QQHQ 8PHLQH1D.KUL.KWHQYRUODJH]XHUVWHOOHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ:lKOHQ6LH(LQVWHO OXQJHQ :lKOHQ6LH0LWWHLOXQJVYRUODJHQ:lKOHQ6LHHLQHOHHUH9RU ODJH >@  6LHZHUGHQ]XU(LQJDEHHLQHU%H]HL.KQXQJIUGLH9RUODJHGHU 1XPPHUGHU1D.KUL.KWHQ]HQWUDOHGHU*OWLJNHLWVSHULRGHXQG GHV)RUPDWVDXIJHIRUGHUW )DOOVQL.KWDQGHUVHLQJHVWHOOWVLQGGLH)HOGHU$QWZRUWEH]DKOWXQG%H UL.KWVWDQGDUGPl‰LJDXV)DOOVQXUHLQH9RUODJHHLQJHUL.KWHWLVWZLUGGLH VHVWDQGDUGPl‰LJYHUZHQGHW)DOOVPHKUDOVHLQH9RUODJHSURJUDPPLHUWLVW NDQQEHLP6.KUHLEHQQHXHU1D.KUL.KWHQHLQH9RUODJHDXVJHZlKOWZHUGHQ 6SHL.KHUEHGDUI 'LH6SHL.KHUEHQXW]XQJYRQ6061D.KUL.KWHQNDQQHLQJHVHKHQZHUGHQ 8PGLH$Q]DKOGHUJHVSHL.KHUWHQ1D.KUL.KWHQXQGGHQYHUIJEDUHQ6SHL .KHUSODW]HLQ]XVHKHQ 'U.NHQ6LH :lKOHQ6LH0LWWHLOXQJHQ...
  • Seite 41 $QUXIH'DXHU ,P$QUXIH'DXHU0HQVSHL.KHUWGDV7HOHIRQGHWDLOOLHUWH$QJDEHQ]XHLQJHKHQ GHQXQGDXVJHKHQGHQ$QUXIHQVRZLHGLH'DXHUGHVOHW]WHQ$QUXIVXQGGLH*HVDPW GDXHUDOOHUJHWlWLJWHQ$QUXIH $QUXIUHJLVWHU ,QGLHVHP)HDWXUHZHUGHQ(LQ]HOKHLWHQ ,GHQWLWlW8KU]HLWXQG'DWXPVR ZLH$QUXIGDXHU GHUOHW]WHQJHZlKOWHQ5XIQXPPHUQGHUOHW]WHQHU KDOWHQHQXQEHDQWZRUWHWHQ$QUXIHXQGGHUOHW]WHQHUKDOWHQHQ$QUXIHJH VSHL.KHUW'DV$QUXI/RJEX.KZLUGJHPHLQVDPIU/HLWXQJXQG/HLWXQJ  JHQXW]W 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXIUHJLVWHU :lKOHQ6LH/HW]WHU$QUXI1L.KWDQJHQRPPHQRGHU$QJH QRPPHQ 9HUZHQGHQ6LH RGHU XPGXU.KGLH$QUXIOLVWH]XEOlWWHUQ 'LH]XOHW]WJHZlKOWH1XPPHUE]ZGLH1XPPHUGHV]XOHW]WHPSIDQJHQHQ $QUXIVZLUG]XHUVWDQJH]HLJW%HLXQEHDQWZRUWHWHQXQGHPSIDQJHQHQ$Q UXIHQZLUGGLH1XPPHUGHV$QUXIHUVDQJH]HLJWIDOOVGLHVHEHNDQQWLVWDQ GHUQIDOOVZLUG8QEHNDQQWDQJH]HLJW 'U.NHQ6LH DXIHLQHVHOHNWLHUWH1XPPHUXPGLHVH1XPPHU]XZlKOHQ 'U.NHQ6LHDXI2SW XPIROJHQGHV0HQ]X|IIQHQ (LQWUDJ $NWLRQ 6SHL.KHUWGLH1XPPHULP7HOHIRQEX.K 6SHL.KHUQ /|V.KHQ /|V.KWGHQ(LQWUDJ $OOHVO|V.KHQ /|V.KWDOOH(LQWUlJH %HDUEHLWHQ %HDUEHLWHWGLHDQJH]HLJWH1XPPHU 'HWDLOVHLQVHKHQ1DPH5XIQXPPHU8KU]HLWXQG (LQ]HOKHLWHQ 'DWXPVRZLH$QUXIGDXHUGHUPDUNLHUWHQ1XPPHU $QUXI 5XIWGLHDQJH]HLJWH1XPPHUDQ 9HUZHQGHQ6LH...
  • Seite 42 :lKOHQ6LH$Q]HLJHQ :HQQGLH$QUXI7LPHU]XU.NJHVWHOOWZXUGHQ VLHKH$QUXI 7LPHU=XU.NVHW]HQDXI6HLWH ZLUGGDV'DWXPGHVOHW]WHQ 5.NVHW]HQVNXU]DQJH]HLJW 9HUZHQGHQ6LH RGHU XPVlPWOL.KH7LPHU,QIRUPDWLRQHQ HLQ]XVHKHQ 'LH$QUXILQIRUPDWLRQXQGGLHDNNXPXOLHUWHQ=HLWHQGHUDXVJHKHQGHQ XQGHLQJHKHQGHQ$QUXIHZHUGHQDQJH]HLJW 'U.NHQ6LH'HWDLOV XP(LQ]HOKHLWHQ]X5RDPLQJ$QUXIHQXQGLQ WHUQDWLRQDOHQ$QUXIHQXVZ]XHUIDKUHQ 'U.NHQ6LH RGHU(QGH XP]XUYRUKHULJHQ$Q]HLJH]XU.N]X NHKUHQ 'U.NHQXQGKDOWHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ )DOOV6LH/HLWXQJDERQQLHUWKDEHQZHUGHQ$OOH$QUXIHIU/HLWXQJXQG/HLWXQJVHSDUDW DXIJHIKUW 6SUH.K]HLW6DOGR QXUDOV=XVDW]YHUWUDJ 'LHVLVWHLQ=XVDW]GLHQVWGHQHLQLJH1HW]ZHUNHDQELHWHQXQGGHUHV,KQHQ HUP|JOL.KW,KUHQ6SUH.K]HLW6DOGR]XHUIDKUHQ'LHVH,QIRUPDWLRQHQZHU GHQYRP1HW]ZHUNJHVHQGHW 1lKHUHV]XU9HUIJEDUNHLWHUIDKUHQ6LHEHL,KUHP'LHQVWHDQELHWHU 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXI7LPHU :lKOHQ6LH.RQWR,QIRUPDWLRQHQ :lKOHQ6LH$QUXIRGHU1XPPHUHLQJHEHQ )DOOV$QUXIDXVJHZlKOWZLUGXQGGLH1XPPHUIU6DOGRLQIRUPDWLRQHQ EHUHLWVHLQJHJHEHQZRUGHQLVWZLUGHLQ$QUXI]XU6DOGR,QIRUPDWLRQV ]HQWUDOHJHWlWLJW)DOOVQR.KNHLQH1XPPHUHLQJHJHEHQZRUGHQLVW ZlKOHQ6LH1XPPHUHLQJHEHQXQGJHEHQ6LHGLH1XPPHUHLQ'U. NHQ6LH2. XPGLH1XPPHU]XVSHL.KHUQRGHU XPGLH1XPPHU ]XVSHL.KHUQXQGGLH,QIRUPDWLRQV]HQWUDOHDQ]XUXIHQ 'U.NHQ6LH ZHQQGHU$QUXIEHHQGHWLVW...
  • Seite 43 :lKOHQ6LH(UULQHUXQJ :lKOHQ6LH(LQ RGHU$XV  :lKOHQ6LHGHQ=HLWUDXPDXV ]ZLV.KHQXQG0LQXWHQ  'U.NHQ6LH2. XPGLH(LQJDEH]XEHVWlWLJHQ'U.NHQ6LH (QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH]XU.N]XNHKUHQ $QUXI7LPHU=XU.NVHW]HQ 0LWGLHVHU)XQNWLRQN|QQHQ6LHVlPWOL.KH$QUXI7LPHU]XU.NVHW]HQ6LH EHQ|WLJHQGHQVWHOOLJHQ6SHUU.RGHXPGLHVH)XQNWLRQ]XQXW]HQ 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXI7LPHU :lKOHQ6LH=XU.NVHW]HQ :lKOHQ6LH-DRGHU1HLQ *HEHQ6LHGHQ6SHUU.RGHHLQXQGGU.NHQ6LH2. 'LH$NWLRQ ZLUGEHVWlWLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ *HEKUHQ²9HUZDOWXQJ DXVV.KOLH‰OL.KEHL=XVDW]YHUWUDJ 0DQ.KH1HW]ZHUNHELHWHQHLQHQ$GYL.HRI&KDUJH $R& =XVDW]GLHQVWPLW GHPHVP|JOL.KLVWGLH*HEKUHQGHV]XOHW]WJHWlWLJWHQ$QUXIVGLHNXPX OLHUWHQ*HVDPWJHEKUHQDOOHU$QUXIHXQGGHQ6DOGRLQ(LQKHLWHQRGHUHLQHU :lKUXQJRGHUHLQHVEHOLHELJHQYRP%HQXW]HUIHVWJHOHJWHQ*HEKUHQ K|.KVWZHUWV]XHUIDKUHQ 8PGLHVH*HEKUHQLQGHU:lKUXQJ,KUHU:DKO]XVHKHQPVVHQ6LH]X Ql.KVWGLH:lKUXQJXQGGLH*HEKUHQMH(LQKHLWZlKOHQDQGHUQIDOOVZHU GHQGLH$QUXIJHEKUHQLQ(LQKHLWHQDQJH]HLJW 8PGLH:lKUXQJXQGGLH*HEKUHQMH(LQKHLWIHVW]XOHJHQ 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXINRVWHQ :lKOHQ6LH$Q]HLJH.RVWHQDUW :lKOHQ6LH:lKUXQJ'LHDNWXHOOHLQJHVWHOOWH:lKUXQJZLUG DQJH]HLJW 'U.NHQ6LH%HDUE *HEHQ6LHGHQ3,1&RGHHLQXQG GU.NHQ6LH2.
  • Seite 44 :lKOHQ6LH$Q]HLJH.RVWHQDUW :lKOHQ6LH(LQKHLWHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQGHU*HEKUHQW\SDXI(LQKHLWHQJHVHW]WZXUGHZHUGHQGDV.UHGLWOLPLWXQGGHUYHUEOHL EHQGH.UHGLWLQ(LQKHLWHQDQJH]HLJW )HVWOHJXQJGHV.UHGLWOLPLWVLQ(LQKHLWHQRGHU:lKUXQJ 1D.KGHP6LHGLH:lKUXQJXQGGLH*HEKUHQMH(LQKHLWIHVWJHOHJWKDEHQ N|QQHQ6LHHEHQIDOOVHLQ.UHGLWOLPLWLQ(LQKHLWHQRGHUHLQHP%HWUDJLQGHU :lKUXQJ,KUHU:DKOIHVWOHJHQIDOOVGLHVLQ,KUHP=XVDW]YHUWUDJHUIRUGHU OL.KXQGYHUIJEDULVW:HQQGDV.UHGLWOLPLWHUUHL.KWLVWN|QQHQNHLQHJH EKUHQSIOL.KWLJHQ$QUXIHPHKUPLWGHP7HOHIRQJHWlWLJWXQGNHLQH JHEKUHQSIOL.KWLJHQ$QUXIHPHKUHQWJHJHQJHQRPPHQZHUGHQ'LHVEH HLQWUl.KWLJWMHGR.KQL.KWGLH0|JOL.KNHLW1RWUXIHKHU]XVWHOOHQ 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXINRVWHQ :lKOHQ6LH.UHGLWOLPLW,QGHU$Q]HLJHHUV.KHLQWGLHDNWXHOOH .UHGLWOLPLW(LQVWHOOXQJ 'U.NHQ6LH%HDUE *HEHQ6LHGHQ3,1&RGHHLQXQG GU.NHQ6LH2. *HEHQ6LHGDV.UHGLWOLPLWHLQ GU.NHQ6LH XPHLQ'H]LPDO NRPPDHLQ]XJHEHQ %HVWlWLJHQ6LHPLW2. 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQHLQ.UHGLWOLPLWHLQJHJHEHQLVWODXWHWGLH$XVZDKOYRQGHU.UHGLWOLPLW$Q]HLJH%HDUEHL WHQRGHU.HLQ/LPLWIHVWOHJHQ *HEKUHQDQ]HLJHQ 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH$QUXINRVWHQ :lKOHQ6LH$Q]HLJHQ 9HUZHQGHQ6LH RGHU XPGLH*HEKUHQYRQ/HW]WHU $QUXI$OOH$QUXIHXQG5HVWJXWKDEHQ]XVHKHQ 'U.NHQ6LH(QGH...
  • Seite 45 :lKOHQ6LH=XU.NVHW]HQ :lKOHQ6LH-DXPGLH*HEKUHQ]XU.N]XVHW]HQRGHU1HLQ ]XP%HHQGHQ )DOOV6LH-DZlKOHQJHEHQ6LHGHQ3,1&RGHHLQXQGGU.NHQ 6LH2. $OOH=lKOHU]XU.NJHVHW]WZLUGNXU]DQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ $OWHUQDWHOLQHVHUYL.H²$XVZDKOYRQ/HLWXQJ =XVDW]YHUWUDJ 0DQ.KH*60%HWUHLEHUXQWHUVWW]HQGLH%HQXW]XQJHLQHU]ZHLWHQ /HLWXQJ'LHVLVWQRUPDOHUZHLVHHLQ=XVDW]GLHQVWGHUEHLVSLHOVZHLVHGLH 7UHQQXQJYRQEHUXIOL.KHQXQGSULYDWHQHLQJHKHQGHQXQGDXVJHKHQGHQ $QUXIHQHUODXEW'LH]ZHLWH/HLWXQJLVWPLWHLQHUHLJHQHQ0RELOWHOHIRQ QXPPHUYHUVHKHQ 8PHLQH/HLWXQJIUDXVJHKHQGH$QUXIH]XZlKOHQ 'U.NHQ6LH :lKOHQ6LH$QUXIH'DXHU :lKOHQ6LH/HLWXQJVDXVZDKO 'LHDNWXHOOH/HLWXQJVDXVZDKOZLUGDQJH]HLJW 9HUZHQGHQ6LH RGHU XPVL.K]XGHUJHZQV.KWHQ/HL WXQJ]XEHZHJHQ'U.NHQ6LH:lKOHQ RGHU XP,KUH $XVZDKO]XEHVWlWLJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ (VN|QQHQHEHQIDOOV%H]HL.KQXQJHQIU/HLWXQJ ]%%UR XQG/HLWXQJ ]%3ULYDW YHUJHEHQ ZHUGHQ6LHKH0HQ(LJHQH1XPPHUQ6HLWH8QDEKlQJLJGDYRQZHO.KH/HLWXQJIUDXV JHKHQGH$QUXIHJHZlKOWZXUGHDQNRPPHQGH$QUXIHN|QQHQDXIMHGHU/HLWXQJHQWJHJHQJHQRP PHQZHUGHQ...
  • Seite 46 (LQVWHOOXQJHQGLHVSH]LILV.KH$QSDVVXQJ ,KUHV7HOHIRQV 7HOHIRQHLQVWHOOXQJHQ 7DVWDWXUVSHUUH 'DV(LQVWHOOHQGHU7DVWDWXUVSHUUHYHUKLQGHUWGHQYHUVHKHQWOL.KHQ*H EUDX.KGHU7DVWHQXQGGHQ=XJULIIDXIGLHHQWVSUH.KHQGHQ0HQV'LH 7DVWDWXUVLJQDOHZHUGHQVWXPPJHVWHOOW %HLDQNRPPHQGHQ$QUXIHQZLUGGLH7DVWDWXUVSHUUHDXIJHKREHQXQG EHL%HHQGHQGHV*HVSUl.KVZLHGHUDNWLYLHUW1RWUXIHN|QQHQWURW]GHP YRUJHQRPPHQZHUGHQ:HQQHLQH7DVWHJHGU.NWZLUGZLUGDXIGHP 'LVSOD\GDUDQHULQQHUWGD‰GLH7DVWDWXUVSHUUHDNWLYLHUWLVW (VJLEW]ZHL0|JOL.KNHLWHQXPGLH7DVWDWXUVSHUUHHLQXQGDXV]X V.KDOWHQ ‡ 'LUHNWYRQGHU7DVWDWXULQGHU%HUHLWV.KDIWVDQ]HLJHDXV 'U.NHQ6LH XQGKDOWHQ6LHJHGU.NWXPGLH7DVWDWXUVSHUUH HLQ]XV.KDOWHQ ,P'LVSOD\HUV.KHLQW  'U.NHQ6LH(QWVS XQG XPGLH)XQNWLRQDXV]XV.KDOWHQ ‡ $QKDQGGHV0HQV 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH(LQVWHOOXQJHQ:lKOHQ6LH7DVWDWXUVSHUUHXP GLH7DVWDWXUVSHUUHHLQ]XVWHOOHQ 'U.NHQ6LH(QWVS XQG XPGLH)XQNWLRQDXV]XV.KDOWHQ :HQQDXIGLHUH.KWH)XQNWLRQVWDVWHHLQHDQGHUH)XQNWLRQSURJUDPPLHUWZXUGH VLHKH6HLWH  ZLUGGLH7DVWDWXUVSHUUHGXU.K*HGU.NWKDOWHQGHU7DVWHJHE]ZHQWVSHUUW 'LH7DVWDWXUVSHUUHZLUGDXIJHKREHQZHQQ6LHGLH)UHLVSUH.KDXVUVWXQJDQV.KOLH‰HQ 6SUD.KZDKO $OOHDQJH]HLJWHQ1D.KUL.KWHQVLQGLQPHKUHUHQ6SUD.KHQYHUIJEDU 8PGLH6SUD.KH]XZlKOHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH6SUD.KH 9HUZHQGHQ6LH RGHU...
  • Seite 47 (VJLEW]ZHL0|JOL.KNHLWHQ ‡ 'LUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJHDXV :HQQ6LHLQGHU%HUHLWV.KDIWVDQ]HLJH GU.NHQZLUGDQJH ]HLJW5XIW|QH.HLQ5XIWRQ9LEUDWLRQVDODUP9LEUDWLRQVD ODUP.OLQJHORGHU9LEUGDQQNOLQJHOQ *HKHQ6LH]XUJHZQV.KWHQ(LQVWHOOXQJ'U.NHQ6LH ]XU %HVWlWLJXQJ :HQQHLQHGHU9LUEUDWLRQVRSWLRQHQJHZlKOW ZXUGHYLEULHUWGDVWHOHIRQNXU] HUV.KHLQWLP'LVSOD\ :HQQ5XIW|QHJHZlKOWZXUGHGLH/DXWVWlUNHGHV5XIWRQVDEHUDXVJHVWHOOWZXUGHHUV.KHLQWGDV 6\PERO LP'LVSOD\ 'DV6\PERO ZLUGDQJH]HLJWZHQQ9LEUDWLRQVDODUP9LEUGDQQNOLQJHOQRGHU9LEUD WLRQ.OLQJHOJHZlKOWZXUGH(VLVWLQ%H]XJDXIGDV6\PERO YRUUDQJLJ ‡ $QKDQGGHV0HQV 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH7|QH :lKOHQ6LH$ODUPW|QH :lKOHQ6LH5XIW|QH9LEUDWLRQVDODUP9LEUDWLRQ.OLQJHO RGHU9LEUGDQQNOLQJHOQ]XU%HVWlWLJXQJ,KUHU:DKO 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQ5XIW|QHJHZlKOWZXUGHGLH/DXWVWlUNHGHV5XIWRQVDEHUDXVJHVWHOOWZXUGHHUV.KHLQWGDV 6\PERO LP'LVSOD\ 'LH(LQVWHOOXQJGHU5XIWRQODXWVWlUNHZLUGEHLP$XVV.KDOWHQGHV7HOHIRQVQL.KWJHVSHL.KHUW :lKUHQGGDV7HOHIRQDQHLQ/DGHJHUlWGLH)UHLVSUH.KDQODJHHLQHQ&/$RGHU$&$GDSWHUDQJH V.KORVVHQLVWZLUGGHU0RGXV9LEUDWLRQVDODUP]HLWZHLOLJGHDNWLYLHUWGDV7HOHIRQNOLQJHOWVWDWWGHVVHQ 5XIWRQDXVZDKO 6LHN|QQHQGDV.OLQJHO]HL.KHQIUDQNRPPHQGH*HVSUl.KHXQWHU YHUV.KLHGHQHQLQ,KUHP7HOHIRQJHVSHL.KHUWHQ0HORGLHQZlKOHQ 8PGLHJHZlKOWH0HORGLH]XK|UHQZDUWHQ6LHHLQLJH6HNXQGHQEHYRU 6LH,KUH:DKOEHVWlWLJHQ'LH0HORGLHZLUGJHVSLHOW 'LH$XVZDKOGHU5LQJWRQPHORGLHHUIROJWEHUGDV0HQ(LQVWHOOXQ...
  • Seite 48 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWDQ]HLJH ]XU.N]XNHKUHQ /DXWVWlUNHHLQVWHOOHQ 'LH/DXWVWlUNHGHV.OLQJHO]HL.KHQVGHU7DVWHQXQG$ODUPW|QH :HN NHUXQG:DUQXQJ$NNXHQWODGHQ VRZLHGHVDQNRPPHQGHQ*H VSUl.KVN|QQHQLQGLYLGXHOODQJHSDVVWZHUGHQGXU.K'U.NHQYRQ LQGHU%HUHLWV.KDIWVDQ]HLJHRGHULP0HQ(LQVWHOOXQJHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH7|QH :lKOHQ6LH/DXWVWlUNH :lKOHQ6LH5XIW|QH7DVWHQ*HVSUl.KRGHU$ODUP ,P'LVSOD\ZLUGGLH$XVZDKOEHVWlWLJWXQGGLHHLQ]XVWHOOHQGH/DXWVWlU NHEHQDQQW 9HUZHQGHQ6LH RGHU XPGLH(LQVWHOOXQJDQ]XSDVVHQ 'U.NHQ6LH2. ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :lKUHQGHLQHV$QUXIVN|QQHQVLHGLH*HVSUl.KVODXWVWlUNHHLQVWHOOHQ PLW RGHU :HQQGLH/DXWVWlUNHGHV5XI]HL.KHQVDXI$XVJHVWHOOWZXUGHZLUG HLQ:DUQV\PERODQJH]HLJW /DXWVWlUNHDQKHEXQJ %HLDNWLYLHUWHU)XQNWLRQ/DXWVWlUNDQKHEXQJZLUGGHUDQNRPPHQGH 5XIWRQV.KULWWZHLVHELV]XUPD[LPDOHQ/DXWVWlUNHHUK|KWZHQQGHU $QUXIQD.KGHPHUVWHQ.OLQJHOQQL.KWEHDQWZRUWHWZLUG 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH7|QH :lKOHQ6LH/DXWVWlUNH :lKOHQ6LH/DXWVWlUNHDQKHEXQJ :lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQVL.KW...
  • Seite 49 (VJLEW]ZHL(LQVWHOOXQJHQ ‡ (LQIU6HNGDV'LVSOD\XQGGLH+LQWHUJUXQGEHOHX.KWXQJGHU 7DVWDWXUEOHLEHQQD.KGHP'U.NHQGHUOHW]WHQ7DVWHRGHUHLQHP $QUXIIU 6HNXQGHQDQ ‡ $XVGLH+LQWHUJUXQGEHOHX.KWXQJEOHLEWDXV 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH$Q]HLJH :lKOHQ6LH%HOHX.KWXQJ :lKOHQ6LHHLQHGHUEHLGHQ(LQVWHOOXQJHQ'U.NHQ6LH ]XU %HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQGDV7HOHIRQDQHLQ/DGHJHUlWHLQH)UHLVSUH.KDQODJHHLQHQ&/$RGHU$&$GDSWHUDQJH V.KORVVHQLVWLVWGLH+LQWHUJUXQGEHOHX.KWXQJLPPHUDQ $Q]HLJHNRQWUDVW 'HU.RQWUDVWGHV'LVSOD\NDQQGHQXPJHEHQGHQ/L.KWYHUKlOWQLVVHQDQ JHSDVVWZHUGHQ 8PGHQ.RQWUDVW]XlQGHUQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH$Q]HLJH :lKOHQ6LH.RQWUDVW 5HJHOQ6LHGHQ.RQWUDVWPLW RGHU 'U.NHQ6LH2. ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 0HQJUDILNHQ 6LHN|QQHQ,KU7HOHIRQDX.KPLWWHOVHLQHU5HLKHYRQ0HQELOGHUQSHU V|QOL.KJHVWDOWHQ:HQQ6LHHLQH)XQNWLRQDQZlKOHQlQGHUWVL.KGLH 7HOHIRQJUDILN+DXSWPHQELOGHU6SULWHVXQG6\PEROH 8PGLH*UDILNHQ]XlQGHUQ 'U.NHQ6LH...
  • Seite 50 :kKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ )XQNWLRQVWDVWHQ3URJUDPPLHUHQGHU)XQNWLRQVWDVWHQ 'LH3URJUDPPLHUXQJGHU)XQNWLRQVWDVWHQNDQQJHlQGHUWXQGGHP%H QXW]HUDQJHSDVVWZHUGHQ'LHYHUIJEDUHQ)XQNWLRQHQZHUGHQLQGHP 0HQZlKUHQGGHU$XVZDKODQJH]HLJW (VJLEW]ZHL0|JOL.KNHLWHQ ‡ 'LUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJH 'U.NHQ6LH RGHU XQGKDOWHQ6LHGLH7DVWHJHGU.NW 9HUZHQGHQ6LH RGHU XPGLH2SWLRQHQGHU)XQNWLRQVWD VWHQGXU.K]XEOlWWHUQ 'U.NHQ6LH:lKOHQ ]XU%HVWlWLJXQJ ,KUH$XVZDKOZLUGEHVWlWLJWEHYRUHUQHXWGLH%HUHLWV.KDIWVDQ ]HLJHPLWGHUQHXHQ)XQNWLRQGHU7DVWHDQJH]HLJWZLUG ‡ $QKDQGGHV0HQV 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH7DVWHQ :lKOHQ6LH6RIWNH\)XQNWLRQHQ :lKOHQ6LH/LQNH)XQNWLRQVWDVWHRGHU5H.KWH)XQNWLRQVWD VWH 'U.NHQ6LH:lKOHQ DXIGHU2SWLRQ,KUHU:DKO 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ  LP'LVSOD\EHGHXWHWGD‰HLQ]XYRUGLHVHU)XQNWLRQVWDVWH]XJHRUGQHWHU6,0DEKlQJLJHU RGHUEHVRQGHUHU6HUYL.HQL.KWPHKUYHUIJEDULVW=XP%HLVSLHO/HLWXQJ:DKO .XU]ZDKO 7HOHIRQEX.KHLQWUlJHN|QQHQGHQ7DVWHQ ]XJHRUGQHWZHUGHQ PLWGHQHQGDQQGLHHQWVSUH.KHQGHQ5XIQXPPHUQDQJHZlKOWZHUGHQ...
  • Seite 51 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQHLQH5XIQXPPHUGLHHLQHU.XU]ZDKO]XJHRUGQHWZXUGHDXVGHP7HOHIRQEX.KJHO|V.KWZLUG ZLUGGLHHQWVSUH.KHQGH1XPPHUDXWRPDWLV.KYRQGHU.XU]ZDKOWDVWHJHO|V.KW $XWRPDWLV.KH$QQDKPH 'LHVH)XQNWLRQLVWQXUYHUIJEDUZHQQGDV7HOHIRQDQHLQH)UHLVSUH.K DQODJHRGHUDQHLQHQ.RSIK|UHUDQJHV.KORVVHQLVW$QNRPPHQGH$Q UXIHZHUGHQDXWRPDWLV.KQD.KXQJHIlKU6HNXQGHQEHDQWZRUWHW RKQHGD‰GDIUHLQH7DVWHJHGU.NWZHUGHQPX‰ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH$XWR)XQNWLR QHQ :lKOHQ6LH$XWR$QQDKPH :lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ $XWRPDWLV.KH:LHGHUKROXQJ 'LHVH)XQNWLRQHUP|JOL.KWHVGLH1XPPHUHLQHVIHKOJHV.KODJHQHQ$Q UXIVDXIJUXQGHLQHV%HVHW]W]HL.KHQRGHUGHU1L.KWYHUIJEDUNHLWGHV 1HW]ZHUNVDXWRPDWLV.KELV]X0DO]XZLHGHUKROHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH$XWR)XQNWLR QHQ :lKOHQ6LH$XWR:LHGHUKROXQJ :lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQDNWLYLHUWZHUGHQ$XWR:LHGHUKROXQJXQGHLQ=lKOHUELV]XP Ql.KVWHQ9HUVX.KDQJH]HLJW(LQ:DUQVLJQDOHUW|QWMHGHV0DOZHQQ HLQQHXHU9HUVX.KXQWHUQRPPHQZLUG :HQQGLHDXWRPDWLV.KH:DKOZLHGHUKROXQJHUIROJUHL.KLVWJHKHQ6LH ZLHJHZRKQWYRU'XU.K'U.NHQYRQ(QGH RGHUMHGHUDQGHUHQ7D VWHZlKUHQGGHV9HUVX.KVZLUGGLHDXWRPDWLV.KH:LHGHUKROXQJDEJH EUR.KHQXQGGDV:lKOHQIUGLHVHQ$QUXIEHHQGHW...
  • Seite 52 6&+5(,%(16,(,+5(1&2'($8)81'9(5:$+5(16,(,+1$1(,1(0 6,&+(5(12576,(0h66(162167*(*(%(1(1)$//6.267(13)/,&+ 7,*(+,/)(,1$16358&+1(+0(1 7HOHIRQVSHUU.RGH $XV6L.KHUKHLWVJUQGHQZLUGPLWGHP7HOHIRQHLQ7HOHIRQVSHUU.RGH JHOLHIHUW(UYHUKLQGHUWXQJHVWDWWHWHQ=XJULIIDXIGDV7HOHIRQXQGGLH :$3Œ(LQVWHOOXQJHQ 'LH:HUNVHLQVWHOOXQJLVW(VZLUGHPSIRKOHQGHQ&RGHQHXHLQ ]XVWHOOHQXQGDQHLQHPVL.KHUHQ2UWJHWUHQQWYRP7HOHIRQDXI]XKH EHQ 'HU7HOHIRQVSHUU.RGHLVWDX.KHUIRUGHUOL.KXPGLH$QUXI7LPHU]XU.N ]XVHW]HQ:HQQDNWLYLHUWZLUGGHU&RGHMHGHV0DOYHUODQJWZHQQGDV 7HOHIRQHLQJHV.KDOWHQZLUG 8PGHQ7HOHIRQVSHUU.RGH]XlQGHUQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH6L.KHUKHLW :lKOHQ6LH7HOHIRQVSHUUH :lKOHQ6LH&RGHlQGHUQXQGIROJHQ6LHGHQ$QZHLVXQJHQDXI GHP'LVSOD\ 'U.NHQ6LH2. ]XU%HVWlWLJXQJGHVQHXHQ&RGHV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 8PGLH7HOHIRQVSHUUHHLQRGHUDXV]XV.KDOWHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :kKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH6L.KHUKHLW :lKOHQ6LH7HOHIRQVSHUUH :lKOHQ6LH(LQRGHU$XV 'HU7HOHIRQVSHUU.RGHLVWGDIUHUIRUGHUOL.K 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 1RWUXIHVLQGDX.KEHLDNWLYLHUWHU7HOHIRQVSHUUHP|JOL.K 3,1&RGH ,KUH6,0.DUWHLVWPLWHLQHP3,1&RGHDXV=LIIHUQYHUVHKHQXPVLH YRUXQHUODXEWHP*HEUDX.K]XV.KW]HQ:HQQDNWLYLHUWZLUGGHU3,1 &RGHVMHGHV0DOYHUODQJWZHQQGDV7HOHIRQHLQJHV.KDOWHQZLUG:HQQ 6LHGUHL0DOQD.KHLQDQGHUHLQHQIDOV.KHQ3,1&RGHHLQJHEHQZLUG,KUH...
  • Seite 53 'U.NHQ6LH:lKOHQ XQGIROJHQ6LHGHQ$QZHLVXQJHQ 'U.NHQ6LH2. ]XU%HVWlWLJXQJ 'LHNXU]H$Q]HLJHYRQ3,1DNWLYLHUWRGHU3,1GHDNWLYLHUW EHVWlWLJW,KUH$NWLRQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 8PGHQ3,1&RGH]XlQGHUQ 3,1PX‰GDIUDNWLYLHUWZHUGHQ  'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH6L.KHUKHLW :lKOHQ6LH3,1bQGHUXQJXQGIROJHQ6LHGHQ$QZHLVXQJHQ 'U.NHQ6LH2. XP,KUHQQHXHQ3,1&RGH]XEHVWlWLJHQ (LQH%HVWlWLJXQJZLUGDQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 3,1&RGH 'HU3,1&RGHV.KW]WYRUXQHUODXEWHP=XJULIIDXIHLQLJH)XQNWLRQHQ GHV7HOHIRQVZLHGDV(LQRGHU$XVV.KDOWHQGHU)'1)XQNWLRQHQGHP bQGHUQGHV)'17HOHIRQEX.KVGHU(LQVWHOOXQJYRQ7HOHIRQNRVWHQDXI 1XOOGHUbQGHUXQJGHU.RVWHQDQ]HLJH(UNDQQJHlQGHUWDEHUQL.KW HLQRGHUDXVJHV.KDOWHWZHUGHQ 8PGHQ3,1&RGH]XlQGHUQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH6L.KHUKHLW :lKOHQ6LH3,1bQGHUXQJXQGIROJHQ6LHGHQ$QZHLVXQJHQ 'U.NHQ6LH2. XP,KUHQQHXHQ3,1&RGH]XEHVWlWLJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 38.&RGH 'HU38.&RGH 3,1XQEOR.NNH\ LVWHLQVWHOOLJHU&RGHGHUYRQ,KUHP $QELHWHUPLWJHWHLOWZLUG(UZLUGYHUZHQGHWXPGHQ3,1]X GHEOR.NLH UHQ ZHQQGLHVHUGUHL0DOQD.KHLQDQGHUIDOV.KHLQJHJHEHQZXUGH(LQ...
  • Seite 54 GD]XDXIJHIRUGHUWZHUGHQ 6LHZHUGHQGDQQDXIJHIRUGHUWHLQHQQHXHQ3,1&RGHHLQ]XJHEHQ )ROJHQ6LHGHQ$QZHLVXQJHQXPGHQ3,1&RGH]XU.N]XVWHOOHQ :HQQ6LH0DOQD.KHLQDQGHUHLQHQIDOV.KHQ38.&RGHHLQJHEHQN|QQHQ6LHGLH)XQNWLRQHQ GLHGHQ3,1&RGHHUIRUGHUQQL.KWPHKUEHQXW]HQ:HQGHQ6LHVL.KIUHLQHQHXH.DUWHDQ,KUHQ 'LHQVWDQELHWHU .HQQZRUWIU$QUXIVSHUUH 'DV3D‰ZRUWIU$QUXIVSHUUHZLUGYHUZHQGHWXP2SWLRQHQIUGLH$Q UXIVSHUUH]XZlKOHQDXIGLH6LHXQWHU*60'LHQVWHLP0HQ$QUXI VSHUUH]XJUHLIHQ VLHKH6HLWH 6LHHUKDOWHQGDV3D‰ZRUWYRQ,KUHP 'LHQVWHDQELHWHU 8PGDV3D‰ZRUW]XlQGHUQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH$QUXIVSHUUH :lKOHQ6LH3DVVZRUWlQGHUQXQGIROJHQ6LHGHQ$QZHLVXQ JHQ 'U.NHQ6LH2. ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ hEHUVL.KW]XU(LQJDEHYRQ&RGHV3DVVZ|UWHUQ :HQQ $Q]DKOGHU 3D‰ZRUW /lQJH EORNNLHUWRGHU HUODXEWHQ9HUVX.KH YHUJHVVHQ 5.NVHQGXQJGHV (QWVSHU =LIIHUQ 8QEHJUHQ]W 7HOHIRQVDQGHQ UXQJV.RGH +HUVWHOOHU %OR.NLHUXQJZLUG  9HUVX.KH GXU.K38.&RGH =LIIHUQ...
  • Seite 55 *HEHQ6LHGLH8KU]HLW LP6WXQGHQ)RUPDW RGHUGDV'DWXP LQGHUJH]HLJWHQ)RUPHLQ 9HUZHQGHQ6LHZHQQ HUIRUGHUOL.K XQG 'U.NHQ6LH2. ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ (LQH)HKOHUPHOGXQJZLUGDQJH]HLJWZHQQ6LHHLQHIDOV.KH(LQJDEHPD.KHQ 'LH8KU]HLWXQGGDV'DWXPZHUGHQLPPHUDQJH]HLJWZHQQGDV7HOHIRQHLQJHV.KDOWHQLVW'DV -DKUZLUGQL.KWDQJH]HLJW 'DV7HOHIRQLVWPLWHLQHULQWHUQHQ%DWWHULHYHUVHKHQGXU.KGLHGLH(LQVWHOOXQJYRQ8KU]HLWXQG 'DWXPGUHL6WXQGHQJHVSHL.KHUWZLUGZHQQGDV7HOHIRQDXVJHV.KDOWHWQL.KWDQHLQHQ$NNXRGHU DQHLQHQYROOVWlQGLJOHHUHQ$NNXDQJHV.KORVVHQLVW1D.KGLHVHU'DXHUYRQGUHL6WXQGHQNDQQHV HUIRUGHUOL.KVHLQGLH8KU]HLWQHXHLQ]XVWHOOHQZHQQ6LHGDV7HOHIRQZLHGHUHLQV.KDOWHQ 9RUHLQVWHOOXQJHQ :HUNVHLQVWHOOXQJHQ 9HUZHQGHQ6LHGDV0HQ(LQVWHOOXQJHQXPGLH7HOHIRQHLQVWHOOXQ JHQDXIGLH:HUNVHLQVWHOOXQJHQ]XU.N]XVHW]HQ 'LHVKDWNHLQH$XVZLUNXQJHQDXI7HOHIRQEX.KHLQWUlJHRGHUGHQ6SHUU.RGH 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH7HOHIRQHLQVWHOOXQJHQ:lKOHQ6LH9RUHLQVWHOOXQ JHQ :lKOHQ6LH-DRGHU1HLQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 'LHVVLQGGLH:HUNVHLQVWHOOXQJHQ )XQNWLRQ :HUNVHLQVWHOOXQJ :DUQW|QH 5XIW|QH 5XIW|QH 7ULXP /DXWVWlUNH5XIW|QH7DVWH*HVSUl.K 0LWWOHUH:HUWH XQG$ODUP %HOHX.KWXQJXQG.RQWUDVW )U6HNHLQXQG PLWWOHUH:HUWH...
  • Seite 56 (LQH1XPPHUIUGDV0DLOER[]HQWUXPVSHL.KHUQ :HQQ,KUH6,0QL.KWDXWRPDWLV.KGLH1XPPHUGHV0DLOER[HQWUXPV HQWKlOWPX‰GLHVHPDQXHOOHLQJHJHEHQZHUGHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH0DLOER[ :lKOHQ6LH1XPPHU:HQQ6LHGD]XDXIJHIRUGHUWZHUGHQ JHEHQ6LHGLH1XPPHUPDQXHOORGHUYRQHLQHP6SHL.KHUDXVHLQ 'U.NHQ6LH2. XP,KUH(LQJDEH]XEHVWlWLJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ :HQQ6LHHLQ$ERQQHPHQWIU /HLWXQJ KDEHQPVVHQ6LHGLHHQWVSUH.KHQGH1XPPHUGHV 0DLOER[]HQWUXPVJHWUHQQWIUGLHVH/HLWXQJVSHL.KHUQ 'LH1XPPHUGHV0DLOER[]HQWUXPVZLUGDXWRPDWLV.KGHU.XU]ZDKO]XJHRUGQHW VLHKH.XU]ZDKO DXI6HLWH  'DV:DUQVLJQDOIUGLH0DLOER[HLQDXVV.KDOWHQ :HQQ6LHEHL(UKDOWHLQHU1D.KUL.KWGXU.KHLQ6LJQDOLQIRUPLHUWZHUGHQ P|.KWHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH0DLOER[ :lKOHQ6LH$ODUP:lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 'DV0DLOER[]HQWUXPDQUXIHQXQGDXI1D.KUL.KWHQEHUSUIHQ 6LHKDEHQ]ZHL0|JOL.KNHLWHQ ‡ 6LHN|QQHQGDV0DLOER[]HQWUXPGLUHNWQD.K(UKDOWHLQHU1D.KUL.KW DQUXIHQ 'U.NHQ6LH XQGKDOWHQ6LHGLH7DVWHJHGU.NW ‡ RGHU 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH0DLOER[ :lKOHQ6LH$QUXI 'LH1XPPHUZLUGZLHEHLHLQHPQRUPDOHQ$QUXIDQJHZlKOW...
  • Seite 57 8POHLWXQJV $NWLRQ RSWLRQHQ ,PPHU $OOHHLQJHKHQGHQ$QUXIHZHUGHQXPJHOHLWHW RKQH %HGLQJXQJ :HQQQL.KW /HLWHW$QUXIHXPZHQQGDV7HOHIRQQL.KWHUUHL.KW HUUHL.KEDU ZHUGHQNDQQ DXVVHU%HWULHE /HLWHWDOOH6SUD.KDQUXIHXPZHQQGDV7HOHIRQ :HQQNHLQH $QQDKPH QL.KWDQWZRUWHW :HQQEHVHW]W /HLWHW$QUXIHXPZHQQGDV0RELOWHOHIRQEHVHW]W $OOH=XVWlQGH /HLWHWDOOH6SUD.KDQUXIHXPZHQQ1L.KW(UUHL.K EDU.HLQH$QWZRUWXQG%HVHW]W $OOHVO|V.KHQ /|V.KWDOOH%HGLQJXQJHQ $OOH)D[$QUXIH /HLWHWDOOHHLQJHKHQGHQ)D[DQUXIHXP RKQH%HGLQ JXQJ $OOH'DWHQUXIH /HLWHWDOOHHLQJHKHQGHQ'DWHQDQUXIHXP RKQH%H GLQJXQJ 9HUZHQGHQ6LH RGHU XPGLH8POHLWXQJVEHGLQJXQJIHVW ]XOHJHQXQGEHVWlWLJHQ6LHGLH$XVZDKOLQGHP6LH:lKOHQ RGHU GU.NHQ :lKOHQ6LH(LQV.KDOWHQ 9HUZHQGHQ6LH RGHU XP]ZLV.KHQ0DLOER[1DPHQRGHU 1XPPHU]XZlKOHQ 'U.NHQ6LH:lKOHQ RGHU XP,KUH$XVZDKO]XEHVWlWL JHQ ,KUH$QIUDJHZLUGDXIGHP'LVSOD\EHVWlWLJW...
  • Seite 58 8PDOOH 0HKUID.K 8POHLWXQJHQDXI]XKHEHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH$QUXIZHLWHUOHLWXQJ :lKOHQ6LH$OOHO|V.KHQ (LQH%HVWlWLJXQJZLUGDQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 'XU.KGLHVH$NWLRQZHUGHQDOOH6SUD.KXPOHLWXQJHQIUGLHDNWXHOOYHUZHQGHWH/HLWXQJJHO|V.KW IU6SUD.KH)D[XQG'DWHQDQUXIH :HQQ6LH$QUXIXPOHLWXQJHQIUGLHDQGHUH/HLWXQJO|V.KHQ ZROOHQPVVHQVLHGLHVH]XHUVWHDXVZlKOHQ 0HQ$QUXI'DXHU$XVZDKO/HLWXQJ  &DOOHU/LQH,GHQWLW\$Q]HLJHQ9HUEHUJHQ,KUHU0RELOWHOHIRQ QXPPHU 'LHPHLVWHQ1HW]HXQWHUVWW]HQGLH&DOOHU/LQH,GHQWLW\)XQNWLRQ &/,  GDVKHL‰WGLH$Q]HLJHGHU7HOHIRQQXPPHU ,' GHV$QUXIHUVEHLHLQHP HLQJHKHQGHQ$QUXI0LWGHU$XVZDKOYRQ(UKDOW$QUXIHU1UN|QQHQ 6LHSUIHQREHLQHVRO.KH)XQNWLRQ]XU9HUIJXQJVWHKW ,GHQWLILNDWLRQDQNRPPHQGHU$QUXIH 0LWGLHVHU)XQNWLRQN|QQHQ6LHKHUDXVILQGHQREHLQ1HW],KQHQGLH,' EHLHLQJHKHQGHQ$QUXIHQDQ]HLJW 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH(UKDOW$QUXIHU1U 'DV1HW]ZHUNDQWZRUWHWHQWZHGHU0HLQH,'LVWJHVHQGHW RGHU0HLQH,'LVWQL.KWJHVHQGHW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ %HL1HW]HQGLHGLH&DOOHU/LQH,GHQWLW\)XQNWLRQXQWHUVWW]HQN|QQHQ 6LHGLHhEHUWUDJXQJ,KUHUHLJHQHQ1XPPHUXQWHUGU.NHQ)UMHGHQ HLQ]HOQHQ$QUXILQGHP6LHYRUGHUHLJHQWOL.KHQ7HOHIRQQXPPHU ZlKOHQ6LHN|QQHQGLHhEHUWUDJXQJGHU1XPPHU,KUHV0RELOWHOHIRQV DX.KJDQ]YRQ,KUHP1HW]EHWUHLEHUGHDNWLYLHUHQODVVHQ,QGLHVHP)DOO N|QQHQ6LH,KUH1XPPHUDX.K]XUhEHUWUDJXQJIUHLJHEHQLQGHP6LH IUHLQ]HOQH$QUXIH YRUGHUHLJHQWOL.KHQ7HOHIRQQXPPHUZlKOHQ 6WDQGDUG1HW]HLQVWHOOXQJ 8PGLH6WDQGDUG1HW]HLQVWHOOXQJIUGLHhEHUPLWWOXQJ,KUHU0RELO IXQN,'ZLHGHUKHU]XVWHOOHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ...
  • Seite 59 ,KUHHLJHQH1XPPHUYHUEHUJHQRGHUDQ]HLJHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH(LJHQH1UVHQGHQ :lKOHQ6LH(LJHQH :lKOHQ6LH0HLQH,'YHUEHUJHQRGHU0HLQH,'DQ]HLJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ,KUHDNWXHOOH,'(LQVWHOOXQJEHUSUIHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH(LJHQH1UVHQGHQ :lKOHQ6LH6WDWXV 'DV7HOHIRQ]HLJWQXQ,KUHDNWXHOOH(LQVWHOOXQJXQWHU%HU.NVL.K WLJXQJGHU1HW]ZHUNXQGGHU7HOHIRQHLQVWHOOXQJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 1HW] :HQQGDV7HOHIRQHLQJHV.KDOWHWZLUGSUIWHV]XQl.KVWREGDV1HW] LQGHPHV]XOHW]WHLQJHEX.KWZDU QRUPDOHUZHLVHGDV+HLPDWQHW]  YHUIJEDULVWXQGYHUVX.KWVL.KHUQHXWGDULQIDOOVP|JOL.K]XUHJLVWULH UHQ)DOOVQL.KWZlKOWGDV7HOHIRQHLQ1HW]DXVGHUDXIGHU6,0JHVSHL .KHUWHQ/LVWHGHUEHYRU]XJWHQ1HW]H %HDUEHLWHQGHU/LVWHGHUEHYRU]XJWHQ1HW]H 'DV7HOHIRQHQWKlOWHLQH/LVWHYRQ1HW]HQGLHDXVJHZlKOWXQGLQGLH DXIGHU6,0JHVSHL.KHUWHQ/LVWHGHUEHYRU]XJWHQ1HW]HEHUWUDJHQ ZHUGHQN|QQHQ 'LHVH/LVWHNDQQJHlQGHUWZHUGHQXPDQ,KUH$QIRUGHUXQJHQDQJH SD‰W]XZHUGHQ 'LH5HLKHQIROJHXQGGLH%H]HL.KQXQJGHU1HW]HLQGHU/LVWHGHUEHYRU ]XJWHQ1HW]HN|QQHQJHlQGHUWXQGEHDUEHLWHWZHUGHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH1HW] :lKOHQ6LH9RU]XJVOLVWH(LQH/LVWHYRQ1HW]HQZLUGDQJH]HLJW 9HUZHQGHQ6LH RGHU XPGLH/LVWHHLQ]XVHKHQ 'U.NHQ6LH2SW...
  • Seite 60 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ,KUH6,0HQWKlOWJJIHLQH/LVWHXQHUODXEWHU1HW]HGLHQL.KWEHQXW]W ZHUGHQGUIHQ8PGLH/LVWHXQHUODXEWHU1HW]HHLQ]XVHKHQRGHUGDV +HLPDWQHW]DQ]HLJHQ]XODVVHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH1HW] :lKOHQ6LHHQWZHGHU1L.KWHUODXEWRGHU(LJHQHV1HW] (LQH/LVWHGHUXQHUODXEWHQ1HW]HRGHUGDV+HLPDWQHW]ZLUG DQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 0DQXHOOH6X.KH (VNDQQYRUNRPPHQGD‰6LHHLQEHVWLPPWHV1HW]DXVZlKOHQP|.K WHQGDVEHLVSLHOVZHLVHHLQHEHVVHUH$EGH.NXQJDQ,KUHPMHZHLOLJHQ $XIHQWKDOWVRUWDXIZHLVW 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH1HW] :lKOHQ6LH6X.KHQ :lKOHQ6LH0DQXHOO(VZLUGHLQ%HVWlWLJXQJV%LOGV.KLUPXQG 1HW]VX.KHDQJH]HLJW 9HUZHQGHQ6LH RGHU XPHLQ1HW]ZHUNDXVGHUDQJH]HLJ WHQ/LVWHDXV]XZlKOHQ 'U.NHQ6LH XP,KUH$XVZDKO]XEHVWlWLJHQ $QIUDJHJHIROJWYRP1DPHQGHV1HW]HVZLUGDQJH]HLJW GDQD.KNHKUWGDV7HOHIRQ]XU%HUHLWV.KDIWVDQ]HLJH]XU.N 6LHN|QQHQNHLQ1HW]DXVGHUXQHUODXEWHQ/LVWHO|V.KHQ'LH/LVWHZLUGDXWRPDWLV.KDNWXDOLVLHUW ZHQQGLH1HW]ZHUNVX.KHPDQXHOOHUIROJW $XWRPDWLV.KH6X.KHZlKOHQ QRUPDOH6WDQGDUGHLQVWHOOXQJ 8P]XUDXWRPDWLV.KHQ$XVZDKO]XU.N]XNHKUHQZLHIROJWYRUJHKHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH1HW] :lKOHQ6LH6X.KHQ...
  • Seite 61 :lKOHQ6LH*60'LHQVWH:lKOHQ6LH$QUXIVSHUUH :lKOHQ6LH$EJHKHQGH$QUXIHRGHU(LQJHKHQGH$QUXIH :lKOHQ6LHDXVIROJHQGHQ2SWLRQHQ :lKOHQ6LH %HGHXWXQJ $XVJHKHQG $OOH $OOHDXVJHKHQGHQ$QUXIHVLQGJH DEJHKHQGHQ VSHUUW $QUXIH ,QWHUQDOLRQDOH $OOHDXVJHKHQGHQLQWHUQDWLRQDOHQ $QUXIH $QUXIHVLQGJHVSHUUW $OOHDXVJHKHQGHQLQWHUQDWLRQDOHQ $QUXIHPLW$XVQDKPHDQGHUHU ,QWHUQDWLRQDOH 7HLOQHKPHULP+HLPDWQHW]GHV DXVVHU+HLP %HQXW]HUV $OOHHLQJHKHQGHQ$QUXIHVLQGJH (LQJHKHQGH $OOH$QUXIH VSHUUW $OOHHLQJHKHQGHQ$QUXIHZHQQ 1XUEHL 5RDPLQJ QL.KWLP+HLPDWQHW] :lKOHQ6LHGLH2SWLRQPLW 'U.NHQ6LH:lKOHQ :lKOHQ6LH(LQV.KDIWHQ*HEHQ6LHGDV3D‰ZRUWHLQXQG GU.NHQ6LH2. 'DV1HW]EHVWlWLJW,KUH$XVZDKO 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 8PHLQH$QUXIVSHUUHDXI]XKHEHQRGHUGHQ6WDWXVHLQHU$QUXIVSHUUH]X EHUSUIHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH$QUXIVSHUUH...
  • Seite 62 *UXSSHQUXI*%* DXVV.KOLH‰OL.K=XVDW]GLHQVW 'LHVLVWHLQ1HW]GLHQVWPLWGHPGDV7HOHIRQQXU$QUXIHPLWHLQHUDXV JHZlKOWHQ*UXSSHYRQ%HQXW]HUQIKUHQXQG$QUXIHYRQGLHVHU*UXS SHHQWJHJHQQHKPHQNDQQ'LH*UXSSHQ=XJDQJVOHYHOXQGGHU YRUUDQJLJH$QUXIV]XJDQJZHUGHQEHL9HUWUDJVDEV.KOX‰IHVWJHOHJW 'LHVLVWNHLQH(LQ]HOEHQXW]HUIXQNWLRQVRQGHUQGLHQWYRUDOOHP8QWHU QHKPHQGLHJHV.KORVVHQHLQWHUQH*HVSUl.KHIKUHQP|.KWHQ (VN|QQHQELV]X*UXSSHQHLQJHUL.KWHWZHUGHQ)DOOVQL.KWIHVWJH OHJWVLQG$QUXIH]X1XPPHUQDX‰HUKDOEGHU*UXSSHXQG$QUXIHYRQ 1XPPHUQDX‰HUKDOEGHU*UXSSHQL.KWHUODXEW (LQXQG$XVV.KDOWHQGHU*%*XQG$XVZDKOGHV7\SVGHV *%*'LHQVWHV 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH*60'LHQVWH:lKOHQ6LH*%* 'HUDNWXHOOH*%*6WDWXVZLUGDQJH]HLJW 'U.NHQ6LH%LOGHQ QXQZHUGHQIROJHQGH2SWLRQHQDQJH]HLJW 2SWLRQV %HGHXWXQJ .HLQH*%* *%*LVWDXV.HLQHDNWLYHQ*UXSSHQ$QUXIH N|QQHQDX‰HUKDOEGHU*UXSSHYRUJHQRPPHQ ZHUGHQ 7HLOZHLVH*%* %HJUHQ]WH$QUXIH]XXQGYRQ%HQXW]HUQ DX‰HUKDOEGHU*UXSSHXQGYRQ%HQXW]HUQLQ QHUKDOEGHU*UXSSH 1XU*%* 1XU$QUXIH]XXQGYRQ%HQXW]HUQLQGHUJH V.KORVVHQHQ*UXSSH 9HUZHQGHQ6LH RGHU XPGLHJHZQV.KWH2SWLRQ]XZlK OHQ'U.NHQ6LH %HD.KWHQ6LHGLH$QZHLVXQJHQLP'LVSOD\ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ ·.HLQH*%*·LVWGLH(LQVWHOOXQJIUQRUPDOH1XW]XQJ =HOO,QIR$OOJHPHLQH1D.KUL.KWHQ 606&% 'LHVVLQG1D.KUL.KWHQGLHGLH1HW]HDQDOOH*60%HQXW]HUEHUPLWWHOQXQG...
  • Seite 63 =XU(LQJDEHHLQHV1D.KUL.KWHQW\SVLQGLH$XVZDKOOLVWH (VN|QQHQELV]X1D.KUL.KWHQW\SHQLQGLH$XVZDKOOLVWHHLQJHWUDJHQ ZHUGHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ'LHQVW :lKOHQ6LH0LWWHLOXQJVW\SHQ'U.NHQ6LH2SW :lKOHQ6LH'XU.K/LVWHlQGHUQ RGHU'XU.K&RGHlQGHUQ ZHQQGLH7\SQXPPHUEHNDQQWLVW  *HKHQ6LH]XPJHZQV.KWHQ1D.KUL.KWHQW\S'U.NHQ6LH :lKOHQ XP,KUH:DKO]XEHVWlWLJHQ 'LH$Q]HLJHEHVWlWLJW,KUH$XVZDKO 'U.NHQ6LHQR.KPDOV2SW XPZHLWHUH0LWWHLOXQJVW\SHQ DXVGHU/LVWHDXV]XZlKOHQRGHUJHEHQ6LHGHQ&RGHHLQ IDOOV EHNDQQW RGHUO|V.KHQ6LHHLQHQ0LWWHLOXQJVW\S 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 8P GHQ 'LHQVW =HOO,QIR$OOJHPHLQH 1D.KUL.KWHQ HLQ E]Z DXV]XV.KDOWHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ'LHQVW :lKOHQ6LH(LQ$XV :lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ /HVHQGHUDOOJHPHLQHQ1D.KUL.KWHQ $OOJHPHLQH1D.KUL.KWHQHUV.KHLQHQQXULQGHU%HUHLWV.KDIWVDQ]HLJH XQGZHUGHQZlKUHQGHLQHV*HVSUl.KVRGHUZlKUHQG$NWLRQHQLP 0HQXQWHUGU.NW(LQH1D.KUL.KWNDQQELV]X=HL.KHQXPIDVVHQ XQGVL.KEHUPHKUHUH6HLWHQHUVWUH.NHQ'LH6HLWHQZH.KVHOQDXWR...
  • Seite 64 6LJQDOWRQHLQXQGDXVV.KDOWHQ )DOOVJHZQV.KWNDQQHLQ6LJQDOWRQHUW|QHQZHQQHLQHQHXHRGHUDN WXDOLVLHUWH$OOJHPHLQH1D.KUL.KWHPSIDQJHQZLUG 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ'LHQVW :lKOHQ6LH$ODUP :lKOHQ6LH(LQRGHU$XV 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 8PHLQH1D.KUL.KWLQGHU/LVWH]XO|V.KHQRGHU]XEHDUEHLWHQ 1D.KUL.KWHQW\SHQGLHLQGHU$XVZDKOOLVWHVWHKHQN|QQHQJHO|V.KW XQGJHlQGHUWZHUGHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ'LHQVW :lKOHQ6LH0LWWHLOXQJVW\SHQ'U.NHQ6LH2SW :lKOHQ6LH/|V.KHQ'XU.K&RGHlQGHUQRGHU'XU.K/LVWH lQGHUQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 1D.KUL.KWHQ'LHQVW6SUD.KH 'LH0LWWHLOXQJHQGHV1D.KUL.KWHQ'LHQVWHVN|QQHQLQPHKUHUHQ6SUD .KHQDQJH]HLJWZHUGHQ 8PGLH6SUD.KH]XZlKOHQ 'U.NHQ6LH :lKOHQ6LH(LQVWHOOXQJHQ :lKOHQ6LH1D.KUL.KWHQ'LHQVW :lKOHQ6LH6SUD.KH 9HUZHQGHQ6LH RGHU XPHLQH6SUD.KHLQGHUDQJH]HLJWHQ /LVWH]XZlKOHQ'U.NHQ6LH ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ...
  • Seite 65 %HQXW]XQJGHU%URIXQNWLRQHQ 'DV0HQ%URHQWKlOWHLQHQ1RWL]EOR.NHLQHQ:lKUXQJVXPUH.KQHUXQGHLQH :H.NHUIXQNWLRQ 1RWL]EOR.N 'HU1RWL]EOR.NID‰WELV]X(LQWUlJHPLWMHZHLOVK|.KVWHQV=HL.KHQ 'U.NHQ6LH :lKOHQ6LH%UR :lKOHQ6LH1RWL]EOR.N :lKOHQ6LH/HVHQ9HUZHQGHQ6LH RGHU XPGXU.KGLH (LQWUlJH]XEOlWWHUQ :lKOHQ6LH6.KUHLEHQXPHLQHQQHXHQ(LQWUDJ]XYHUIDVVHQ 'U.NHQ6LH2SW ZlKUHQG6LHGLH(LQWUlJHOHVHQXPIROJHQGHV0HQ ]X|IIQHQ (LQWUDJ $NWLRQ 8PGLH1XPPHULP7HOHIRQEX.KDE]XVSHL 6SHL.KHUQ .KHUQ %HDUEHLWHQ bQGHUWHLQHQ(LQWUDJ /|V.KHQ /|V.KWHLQHQ(LQWUDJ $OOHV /|V.KWDOOH(LQWUlJH O|V.KHQ $QUXI 5XIWGLHLP(LQWUDJDQJH]HLJWH1XPPHU :lKUXQJVXPUH.KQHU 0LWGLHVHUQW]OL.KHQ)XQNWLRQN|QQHQ:lKUXQJHQXPJHUH.KQHWZHUGHQ 8PGHQ:lKUXQJVXPUH.KQHUEHQXW]HQ]XN|QQHQPVVHQ]XQl.KVWGLH :lKUXQJHQXQGGHU:H.KVHONXUVIHVWJHOHJWZHUGHQ'LH8PZDQGOXQJ ZLUGEHUH.KQHWEHUGHQ:H.KVOHNXUVSUR(LQKHLWGHU]ZHLWHQDXVJHZlKO WHQ:lKUXQJ =XP)HVWOHJXQJGHU:lKUXQJHQXQGGHV:H.KVHONXUVHV 'U.NHQ6LH :lKOHQ6LH%UR :lKOHQ6LH:lKUXQJVXPUH.KQHU :lKOHQ6LH(LQVWHOOXQJHQ *HEHQ6LHGHQ1DPHQGHUHUVWHQ:lKUXQJHLQ ]%'ROODU  'U.NHQ6LH2.
  • Seite 66 :lKOHQ6LH:lKUXQJVXPUH.KQHU :lKOHQ6LHHLQHGHUEHLGHQHUVWHQ2SWLRQHQ ,QXQVHUHP%HLVSLHOHQWZHGHU'ROODU!<HQRGHU<HQ!'ROODU *HEHQ6LHGHQXP]XUH.KQHQGHQ%HWUDJHLQ 'U.NHQ6LH XPQ|WLJHQIDOOVHLQ.RPPDHLQ]XJHEHQ 'U.NHQ6LH2. 'HUXPJHUH.KQHWH%HWUDJZLUGDQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 'LH8PUH.KQXQJYRQHLQHU(XURODQG:lKUXQJLQHLQHDQGUH(XURODQG:lKUXQJRGHUHLQH1L.KW (XURODQG:lKUXQJIROJWQRUPDOHUZHLVHGHQ'UHLVDW]5HJHOQ GK8PUH.KQXQJHLQHU/DQGHVZlK UXQJLQ(XURGDQQ8PUH.KQXQJYRQ(XURLQGLHDQGHUH/DQGHVZlKUXQJ ,KU:lKUXQJVXPUH.KQHU ELHWHWGLHVH)XQNWLRQQL.KWDQVRGD‰GDV(UJHEQLVGDV6LHHUKDOWHQQXUHLQ1lKHUXQJVZHUWLVW :H.NHUIXQNWLRQ 0LWGLHVHP0HUNPDOHNDQQGHU%HQXW]HUHLQHWlJOL.KH(LQV.KDOW=HLWRGHU HLQ+LQZHLVVLJQDOHLQVWHOOHQ (LQVWHOOHQGHU8KU]HLWXQG$NWLYLHUHQGHV$ODUPV 'U.NHQ6LH :lKOHQ6LH%UR :lKOHQ6LH:H.NHUIXQNWLRQ )DOOVEHUHLWVHLQH:H.N]HLWHLQJH JHEHQZXUGHZLUGGLHVH8KU]HLWDQJH]HLJW  :lKOHQ6LH(LQXQGJHEHQ6LHGLH:H.N]HLW LP6WXQGHQ)RU PDW RGHUGU.NHQ6LH2. XPGLHDQJH]HLJWH8KU]HLW]X EHVWlWLJHQ (LQH%HVWlWLJXQJZLUGDQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ HUV.KHLQWDPREHUHQ%LOGV.KLUPUDQG :HQQGHU:H.NHUDNWLYLHUWLVWV.KDOWHWHUVL.KMHGHQ7DJ]XUJOHL.KHQ=HLWHLQELVHUDEJHV.KDOWHW ZLUG :HQQGLH:H.N]HLWHUUHL.KWLVWHUW|QWELV]X0LQXWHODQJHLQK|UEDUHU $ODUPXQGGLH/('EOLQNWURW:H.NHUIXQNWLRQHLQHNOLQJHQGH*OR.NH GLHDNWXHOOH8KU]HLWVRZLHGLH)XQNWLRQVWDVWHQ%HVWlW XQG7RQ DXV HUV.KHLQHQLP'LVSOD\ ,VWGDV7HOHIRQ]XU$ODUP]HLWDXVJHV.KDOWHWV.KDOWHWHVVL.KDXWRPDWLV.K...
  • Seite 67 6ROOGDV7HOHIRQVL.KYRUGHU$ODUP]HLWDXVV.KDOWHQEOHLEWHVHLQJHV.KDOWHW ,VWGDV7HOHIRQJHVSHUUWRGHULVWGLH3,1(LQVWHOOXQJDNWLYEOHLEWGLHVHU=X VWDQGDXIUH.KWHUKDOWHQELVGHU%HQXW]HUHVEHWlWLJW :LUGGHU$ODUPQL.KWEHVWlWLJWEOHLEHQGLH$ODUPDQ]HLJHQIUELV]X0L QXWHQLP'LVSOD\'DQQV.KDOWHWVL.KGDV7HOHIRQHQWZHGHUDXVRGHUJHKW ZHQQHV]XU$ODUP]HLWDNWLYZDULQGLHQRUPDOH%HUHLWV.KDIWVDQ]HLJH %LV]XU%HVWlWLJXQJNOLQJHOWGHU$ODUP0LQXWHODQJ'XU.K'U.NHQHLQHUEHOLHELJHQ7DVWH DX‰HUGHU%HVWlW7DVWH ZLUGGHU$ODUPWRQJHVWRSSWGHU$ODUPZLUGMHGR.KQL.KWGHDNWLYLHUW VRQGHUQHUW|QW0LQXWHQVSlWHUHUQHXW)DOOVGLH%HVWlW7DVWHQD.KGHPGULWWHQ$ODUPWRQQL.KW JHGU.NWZLUGZLUGGHU$ODUPQL.KWZLHGHUKROWDEHUGDV7HOHIRQEOHLEWLV0LQXWHQODQJLP $ODUP'LVSOD\PRGXVHLQJHV.KDOWHW )DOOV]XP=HLWSXQNWHLQHV$ODUPVJHUDGHHLQ*HVSUl.KJHIKUWZLUGRGHUGDV7HOHIRQVL.KLQ HLQHPYRUEHUJHKHQGHQ6WDWXVEHILQGHW ]XP%HLVSLHODXVJHV.KDOWHW ZLUGGHU$ODUPYHUV.KREHQ ELVGDV*HVSUl.KEHHQGHWLVWRGHUGHUYRUEHUJHKHQGH=XVWDQGYRUEHLLVW )DOOVGLH$ODUP]HLWZlKUHQGHLQHV*HVSUl.KVHUUHL.KWZLUGHUW|QWDOOH0LQXWHQHLQEHVRQGHUHU $QUXI$ODUP'HU$ODUPNDQQZLHJHZRKQWEHVWlWLJWZHUGHQ )DOOVGLH$ODUP]HLWZlKUHQGHLQHU6HWXS6HTXHQ]IUDXVJHKHQGHRGHUHLQJHKHQGH$QUXIH HUUHL.KWZLUGZLUGGHU$ODUPDXIJHV.KREHQELVGLH9HUELQGXQJKHUJHVWHOOWLVW )DOOVGLH%DWWHULHLQQHUKDOEYRQ0LQXWHQGHU$ODUP]HLWDEJHWUHQQWZLUGHUW|QWGDV$ODUP]HL .KHQVRIRUW0HKUDOV0LQXWHQGDQD.KHUV.KHLQHQQXUGLHYLVXHOOHQ$Q]HLJHQ'U.NHQ6LHGLH %HVWlW7DVWHXPGHQ$ODUP]XEHVWlWLJHQXQGDXV]XV.KDOWHQ 'U.NHQ6LHGLH%HVWlW7DVWHXPGHQ$ODUP]XEHVWlWLJHQXQGDXV]XV.KDO WHQ 'U.NHQ6LH :lKOHQ6LH%UR :lKOHQ6LH:H.NHUIXQNWLRQ :lKOHQ6LH$XV(LQH%HVWlWLJXQJZLUGDQJH]HLJW 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 9RUVL.KW%LWWHGHQNHQ6LHGDUDQEHLP(LQVWHLJHQLQV)OXJ]HXJGLH :H.NHUIXQNWLRQDE]XVWHOOHQGDGLH9HUZHQGXQJYRQ+DQG\VQL.KWJH VWDWWHWXQGLOOHJDOLVW$QVRQVWHQN|QQHQ6LHQD.KGHP$EVWHOOHQGHV 7HOHIRQVDX.KGHQ$NNXKHUDXVQHKPHQ6LHKHDOOJHPHLQH6L.KHUKHLWV ZDUQXQJHQDXI6HLWH...
  • Seite 68 6SLHOH 9HUIJEDUNHLWXQG$XVVHKHQGHULP)ROJHQGHQEHV.KULHEHQHQ6SLHOHKlQJHQYRQ GHQ/HLVWXQJHQDEGLH,KU1HW]EHWUHLEHUELHWHW 'DV7HOHIRQXPID‰W]ZHL6SLHOH5HVKDSHXQG3XVK $QZHLVXQJHQIUGLHVH6SLHOHHUV.KHLQHQZHQQGDVMHZHLOLJH6SLHODXVJHZlKOW ZLUG 'HU2SWLRQHQ%HIHKOLP0HQHUP|JOL.KWGLH$XVZDKOGHU6RXQG(IIHNWH0XVLN HOHNWURQLV.KH6RXQG(IIHNWHRGHUNHLQ6RXQG 8PHLQ6SLHODXV]XZlKOHQ 'U.NHQ6LH :lKOHQ6LH6SLHOH :lKOHQ6LHGDVJHZQV.KWH6SLHOXQGGU.NHQ6LH:lKOHQ RGHU :lKOHQ6LH+LOIHXP$QZHLVXQJHQIUGDV6SLHOXQGGHVVHQ %HGLHQXQJ]XHUKDOWHQ :lKOHQ6LH&RGHXPGDV6SLHOPLW,KUHP6.KZLHULJNHLWVJUDG]X VSLHOHQ :lKOHQ6LH6SLHOHQXPGDV6SLHO]XEHJLQQHQ 5HVKDSHXQG3XVKZHLVHQYHUV.KLHGHQH6.KZLHULJNHLWVJUDGHDXI:HQQ HLQ/HYHOLQGHUYRUJHJHEHQHQ=HLWHUIROJUHL.KDEJHV.KORVVHQZXUGHJH ODQJHQ6LH]XPQl.KVWHQ/HYHO 1D.KGHP6LHHUIROJUHL.K ; /HYHODEVROYLHUWKDEHQHUKDOWHQ6LHHLQHQ&R GHGHUHV,KQHQHUODXEWGDV6SLHOVSlWHUEHLGHP]XYRUHUUHL.KWHQ6.KZLH ULJNHLWVJUDGIRUW]XVHW]HQ 'HU3XQNWHVWDQGNDQQHEHQIDOOVQHEHQGHP1DPHQGHV6SLHOHUVDEJHVSHL .KHUWZHUGHQ :HQQHLQ$QUXIHLQJHKWZlKUHQGHLQ6SLHODNWLYLVWZLUGGHU$QUXIQRUPDO DQJH]HLJWXQGHQWJHJHQJHQRPPHQ:HQQGHU$QUXIEHHQGHWLVWZLUGGDV 6SLHOIRUWJHVHW]W 8PGDV6SLHOH0HQ]XYHUODVVHQGU.NHQ6LH(QGH RGHU XP]XU %HUHLWV.KDIWVDQ]HLJH]XU.N]XNHKUHQ...
  • Seite 69 ,QWHUQHW%URZVHU 'DV0DUVXQG1HSWXQHYHUIJHQEHUHLQHQ,QWHUQHW%URZVHUPLWGHP6LHDXI 'LHQVWHZLH1D.KUL.KWHQ6SRUW:HWWHU793URJUDPPHXVZGLHYRQ,KUHP1HW] EHWUHLEHUXQGRGHUGHP,QWHUQHW3URYLGHUYLD,QWHUQHWEHUHLWJHVWHOOWZHUGHQ]XJUHL IHQ 'LHDQJHERWHQHQ'LHQVWHKlQJHQYRP,QWHUQHW3URYLGHUGHVMHZHLOLJHQ 'LHQVWHVRGHUYRQ,KUHP1HW]EHWUHLEHUDE 8PDQKDQG,KUHV7HOHIRQVDXIGLHVH'LHQVWH]XJUHLIHQ]XN|QQHQEHQ|WLJHQ6LHHLQ '$7(1$ERQQHPHQW 3UIHQ6LHHEHQIDOOVPLW,KUHP1HW]EHWUHLEHUREGLH9HUELQGXQJVHLQVWHOOXQJHQYRU /LHIHUXQJLQGDV7HOHIRQHLQSURJUDPPLHUWZXUGHQRGHURE6LHVLHPDQXHOOHLQJHEHQ XQGDEVSHL.KHUQPVVHQ $XIMHGHQ)DOON|QQHQ6LHGLHVH)XQNWLRQZLHQD.KVWHKHQGEHV.KULHEHQYHUZHQGHQ VREDOGGLHVH(LQVWHOOXQJHQDEJHVSHL.KHUWZRUGHQVLQG 'HU=XJULIIDXIGLH9HUELQGXQJVHLQVWHOOXQJHQNDQQGDYRQDEKlQJHQREGLHVH(LQVWHOOXQJHQYRU GHU$XVOLHIHUXQJDE:HUNLQGDV7HOHIRQHLQSURJUDPPLHUWZXUGHQ,QPDQ.KHQ)lOOHQVLQGGLHVH (LQVWHOOXQJHQJHVSHUUWXP)HKOHU]XYHUPHLGHQXQGN|QQHQQL.KWYRP%HQXW]HUSURJUDPPLHUW ZHUGHQ 6SHL.KHUQ%HDUEHLWHQGHU9HUELQGXQJVHLQVWHOOXQJHQ GLH6LHYRP1HW]EHWUHLEHUHUKDOWHQ %HYRU6LHZHLWHUPD.KHQXQGIDOOV6LHGLHVQL.KWEHUHLWVJHWDQKD EHQJHEHQ6LHELWWHGLHDNWXHOOH8KU]HLWXQGGDV'DWXPHLQZLH DXI6HLWHEHV.KULHEHQ 'LH3URILOOLVWHNDQQELH]X]ZHL3URILOHHQWKDOWHQ 8PGLH333XQG3UR[\$QJDEHQHLQ]XJHEHQXQG]XVSHL.KHUQ 'U.NHQ6LH :lKOHQ6LH,QWHUQHW :lKOHQ6LH3URILO/LVWH :lKOHQ6LHHLQOHHUHV3URILO XQGGU.NHQ6LH >@ 2SWLRQHQ :lKOHQ6LH%HDUEHLWHQ *HEHQ6LHGHQVWHOOLJHQ6SHUU.RGHHLQ VWDQGDUGPl‰LJ  XQGGU.NHQ6LH2. *HEHQ6LHGHQ3UR[\1DPHQHLQXQGGU.NHQ6LH2. *HEHQ6LHGLH7HOHIRQQXPPHUHLQXQGGU.NHQ6LH2. :lKOHQ6LHGHQ9HUELQGXQJVW\S ,6'1RGHU$QDORJ XQGGUN NHQ6LH:lKOHQ :lKOHQ6LHGLH*HV.KZLQGLJNHLW RU IDOOVHUIRUGHU OL.KXQGGU.NHQ6LH:lKOHQ *HEHQ6LHGHQ/RJLQ1DPHHLQXQGGU.NHQ6LH2.
  • Seite 70 :lKOHQ6LHGLH6L.KHUKHLWVHLQVWHOOXQJ (LQRGHU$XV XQGGUN NHQ6LH:lKOHQ *HEHQ6LHGLH3RUWQXPPHUHLQ²IDOOVHUIRUGHUOL.KXQGGU.NHQ 6LH2. (LQH%HVWlWLJXQJZLUGDQJH]HLJW 8PGDVHUIRUGHUOL.KH3URILO]XDNWLYLHUHQYHUZHQGHQ6LH RGHU XPHVYRQGHUDQJH]HLJWHQ/LVWH]XZlKOHQ'U.NHQ6LH ]XU%HVWlWLJXQJ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ  6LHN|QQHQHEHQIDOOVGLUHNWDXIGDV,QWHUQHW0HQ]XJUHLIHQLQGHP6LHGLHGLH,QWHUQHW7DVWHLQ GHU%HUHLWV.KDIWVDQ]HLJHGU.NHQ LQVRIHUQ6LHGLHOLQNH)XQNWLRQVWDVWHQL.KWDQGHUVEHOHJWKDEHQ   )DOOV333=XJDQJVWHOHIRQQXPPHU/RJLQ1DPHXQGNHQQZRUW+RPHSDJH85/XQG,3 $GUHVVHQL.KWLPYRUDXVGHILQLHUWVLQGN|QQHQ6LHGLHVH$QJDEHQYRQ,KUHP1HW]EHWUHLEHUXQG RGHU,QWHUQHW3URYLGHUHUKDOWHQ :HQQ6LHHUQHXW333=XJDQJRGHU3UR[\ZlKOHQN|QQHQ6LHGLH(LQVWHOOXQJHQlQGHUQ $QSDVVHQ,KUHU9HUELQGXQJVHLQVWHOOXQJHQ )ROJHQGHEHQXW]HUGHILQLHUWH(LQVWHOOXQJHQHUP|JOL.KHQHLQH2SWLPLHUXQJ GHV9HUKDOWHQVGHV7HOHIRQVZHQQHVPLWGHP,QWHUQHWYHUEXQGHQLVW 'U.NHQ6LH :lKOHQ6LH,QWHUQHW :lKOHQ6LH(LQVWHOOXQJHQ *HKHQ6LH]XGHQIROJHQGHQ3XQNWHQXQGV.KDOWHQ6LHGLH(LQ VWHOOXQJHQQD.K%HGDUIHLQRGHUDXV 2SWLRQ $NWLRQ :lKUHQGHLQHU,QWHUQHW6HVVLRQZHUGHQEH VWLPPWH,QIRUPDWLRQHQXQG'LHQVWHDXIGLH6LH ]XJHJULIIHQKDEHQLQHLQHPEHVWLPPWHQ6SHL &D.KHO|V.KHQ .KHUEHUHL.KGHQPDQDOV&D.KHEH]HL.KQHW JHVSHL.KHUW8PGLHVHQ6SHL.KHUEHUHL.K]XO| V.KHQGU.NHQXQGZlKOHQ6LHGLH2SWLRQ-D (LQLJH,QWHUQHWVHLWHQVLQGJJIPLW%LOGHUQYHU VHKHQGHUHQ'RZQORDG=HLWLQ$QVSUX.K %LOGHU QLPPW6HW]HQ6LHGLHVH2SWLRQDXI$XVXP%LO UXQWHUODGHQ...
  • Seite 71 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 6LHN|QQHQHEHQIDOOVGLUHNWDXIGDV,QWHUQHW0HQ]XJUHLIHQLQGHP6LHGLHGLH,QWHUQHW7DVWHLQ GHU%HUHLWV.KDIWVDQ]HLJHGU.NHQ LQVRIHUQ6LHGLHOLQNH)XQNWLRQVWDVWHQL.KWDQGHUVEHOHJWKDEHQ  2QOLQHXQGLQ1HW]JHKHQ 8PGLHYRQ,KUHP1HW]EHWUHLEHUDQJHERWHQHQ2QOLQH'LHQVWH]XQXW]HQ 'U.NHQ6LH :lKOHQ6LH,QWHUQHW :lKOHQ6LH6WDUWHQ 9HUELQGXQJPLWJHIROJWYRQ,KUHP3UR[\QDPHQHUV.KHLQW ZlKUHQGGLH9HUELQGXQJDXIJHEDXWZLUG'DQQHUV.KHLQW :LUG EHUWUDJHQ 6LHN|QQHQHEHQIDOOVGLUHNWDXIGDV,QWHUQHW0HQ]XJUHLIHQLQGHP6LHGLHGLH,QWHUQHW7DVWHLQ GHU%HUHLWV.KDIWVDQ]HLJHGU.NHQ LQVRIHUQ6LHGHQOLQNHQ6RIWNH\QL.KWDQGHUVEHOHJWKDEHQ  6REDOG6LHYHUEXQGHQVLQGZHUGHQ,KQHQGLH,QWHUQHWXQG%HGLHQHU0H QRSWLRQHQDQJH]HLJW'DV6\PERO XQWHQLP'LVSOD\]HLJWHLQHEHVWH KHQGH9HUELQGXQJDQ :lKUHQGGHU9HUELQGXQJN|QQHQ6LHGLH6L.KHUKHLWEHU´6L.KHUKHLWHLQµ DNWLYLHUHQ VLHKH6HLWH 'LHVEHHQGHWGLDNWXHOOHQL.KWJHVL.KHUWH6HVVL RQXQGHUP|JOL.KWHVGLHORNDOH9HUELQGXQJ EHUGLH.DUWHQLP&D.KH  DXIUH.K]XHUKDOWHQ:HQQHUQHXWHLQH1HW]ZHUYHUELQGXQJHUIRUGHUOL.KLVW ZLUGHLQHJHVL.KHUWH9HUELQGXQJPLWGHQVHOEHQ(LQVWHOOXQJHQJHIRUGHUW 0|JOL.KHUZHLVHIXQNWLRQLHUWGLHVDXIJUXQGGHU)OXVK3DUDPHWHUGHV6HU YHUVQL.KWJXW,QGHP)DOONDQQHVQ|WLJVHLQGLH9HUELQGXQJQHX]XVWDU WHQ:HQQHLQHJHVL.KHUWH9HUELQGXQJDXIJHEDXWLVWHUV.KHLQWGDV 6\PERO XQWHQLP'LVSOD\XQG]HLJWGLH /LYH 9HUELQGXQJLPJHVL.KHUWHQ 0RGXVDQ 9HUZHQGHQ6LH XQGRGHUGLH)XQNWLRQVWDVWHQXPLP0HQYRU XQG]XU.N]XJHKHQVRZRKOXP$XVZDKOHQ]XWUHIIHQDOVDX.KXPGDV PHQGXU.K]XEOlWWHUQ9HUZHQGHQ6LHGLHOLQNHXQGUH.KWH)XQNWLRQVWDVWH ZHQQJHZlKOWH(OHPHQWHLP0HQKHUYRUJHKREHQVLQG...
  • Seite 72 9HUZHQGXQJYRQ EHL2QOLQH :HQQNHLQH2SWLRQHQ YRUKDQGHQZLUGGXU.K'U.NHQDXI%HL 2QOLQH ZlKUHQGHLQHU2QOLQH9HUELQGXQJIROJHQGHV0HQHLQJHEOHQ GHW (LQWUDJ $NWLRQ .HKUW]XUYRULJHQ6HLWHRGHU5HJLVWHUNDUWH]X =XU.N U.N 9HUNOHLQHUWRGHUYHUJU|‰HUWGLHDQJH]HLJWH7H[W =RRP JU|‰H 7UHQQWGLH1HW]YHUELQGXQJGHV%URZVHUVDEHU $EV.KDOWHQ Ol‰WGLHDNWXHOOH6HLWHDNWLYLP7HOHIRQ%URZVHU &D.KHO|V.KHQ /|V.KWGHQ&D.KH6SHL.KHU /HVH]HL.KHQ )JWGLHDNWXHOOH.DUWHRGHU6HLWH]XU/HVH]HL KLQ]XIJ .KHQ/LVWHKLQ]X *HKH]X *HKW]XHLQHP]XYRUJHVSHL.KHUWHQ/HVH]HL.KHQ /lGWGLH+RPHSDJHHUQHXWXQGNHKUW]XLKU]X +RPH3DJH U.N 1HXODGHQ /lGWGLHDNWXHOOH6HLWHHUQHXW 6LW]XQJV.KOLHVVHQ 7UHQQWGLH,QWHUQHWYHUELQGXQJ 'DV$XVVHKHQGLHVHU(LQWUlJHLQREHQVWHKHQGHP2SWLRQHQ0HQNDQQ YRP%HGLHQHUXQGRGHUGHQ(LQVWHOOXQJHQLP(LQVWHOOXQJHQ0HQDEKlQ JHQ %HHQGHQGHU2QOLQH9HUELQGXQJ 8PGLH,QWHUQHW9HUELQGXQJ]XEHHQGHQ 'U.NHQ6LH 6LHN|QQHQHEHQIDOOVGHQ(LQWUDJ6LW]XQJV.KOLHVVHQLP2SWLRQHQ0HQZlKOHQ $QOHJHQYRQ/HVH]HL.KHQ %RRNPDUNV %HVWLPPWH'LHQVWHP|.KWHQ6LHJJIKlXILJHUDXIVX.KHQXQGNRQVXOWLHUHQ DOVDQGHUH/HVH]HL.KHQ %RRNPDUNV N|QQHQJHVSHL.KHUW ZHUGHQGLHGDQQ...
  • Seite 73 'U.NHQ6LH2. XPMHGH(LQJDEH]XEHVWlWLJHQ 'U.NHQ6LH(QGH RGHU XP]XU%HUHLWV.KDIWVDQ]HLJH ]XU.N]XNHKUHQ 6LHN|QQHQHEHQIDOOVGLUHNWDXIGDV,QWHUQHW0HQ]XJUHLIHQLQGHP6LHGLHGLH,QWHUQHW7DVWHLQ GHU%HUHLWV.KDIWVDQ]HLJHGU.NHQ LQVRIHUQ6LHGHQOLQNHQ6RIWNH\QL.KWDQGHUVEHOHJWKDEHQ  ‡ :lKUHQGHLQHU9HUELQGXQJZlKUHQGHLQH6HLWHJH|IIQHWLVW 'U.NHQ6LH XPGDV2SWLRQHQ0HQDQ]X]HLJHQ :lKOHQ6LH/HVH]HL.KHQKLQ]XIJJHEHQ6LHGHQ/HVH]HL .KHQ1DPHHLQXQGGU.NHQ6LH2. /HVH]HL.KHQN|QQHQQXULP/HVH]HL.KHQ(LQWUDJLP,QWHUQHW0HQEHDUEHLWHWRGHUJHO|V.KWZHU GHQZlKUHQG6LHRIIOLQHVLQG /HVH]HL.KHQYHUZHQGHQ /HVH]HL.KHQN|QQHQYHUZHQGHWZHUGHQ ‡ GLUHNWYRQGHU%HUHLWV.KDIWVDQ]HLJHDXV 'U.NHQ6LH :lKOHQ6LH,QWHUQHW :lKOHQ6LH/HVH]HL.KHQ :lKOHQ6LHGDVJHZQV.KWH/HVH]HL.KHQ 6LHN|QQHQHEHQIDOOVGLUHNWDXIGDV,QWHUQHW0HQ]XJUHLIHQLQGHP6LHGLHGLH,QWHUQHW7DVWHLQ GHU%HUHLWV.KDIWVDQ]HLJHGU.NHQ LQVRIHUQ6LHGHQOLQNHQ6RIWNH\QL.KWDQGHUVEHOHJWKDEHQ  ‡ ZlKUHQG6LHLP,QWHUQHWVXUIHQ 'U.NHQ6LH XPGDV2SWLRQHQ0HQ]XVHKHQ :lKOHQ6LH*HKH]X« :lKOHQ6LHGDVJHZQV.KWH/HVH]HL.KHQ $QGHUH6LWH 9HUZHQGHQ6LHGLHVH2SWLRQLP,QWHUQHW0HQXPHLQHEHNDQQWH,QWHU QHW$GUHVVHHLQ]XJHEHQXQGGLUHNWYRP(LQZlKOYRUJDQJ]XGLHVHU6LWH]X JHODQJHQ$QGHUVDOVEHLGHU/HVH]HL.KHQ)XQNWLRQZHUGHQGLH$GUHVVHQ QL.KWJHVSHL.KHUWXQGPVVHQMHGHVPDOZHQQGLHVH)XQNWLRQJHQXW]W ZLUGHLQJHJHEHQZHUGHQ...
  • Seite 74 &RGHVGHU*600HQV.K0DV.KLQH6.KQLWWVWHOOHQ 'DV7HOHIRQXQWHUVWW]WGLH*606WDQGDUGWDVWHQVHTXHQ]HQPLWGLUHN WHUhEHUWUDJXQJYRQ XQGYRP7DVWHQIHOGDQGDV1HW]'LHVH7DVWHQ ZHUGHQYHUZHQGHWXPDOOHHUJlQ]HQGHQ'LHQVWH,KUHV1HW]HV]XDNWL YLHUHQ (LQHYROOVWlQGLJH/LVWHHUKDOWHQ6LHYRQ,KUHP1HW]EHWUHLEHU...
  • Seite 75 =XEHK|U 9HUZHQGXQJGHV+HDGVHWV $QV.KOLH‰HQGHV+HDGVHWV 6WH.NHQ6LHGHQ6WH.NHUGHV+HDGVHWVZLHXQWHQJH]HLJWLQGHQ+HDG VHW$QV.KOX‰DP7HOHIRQ :HQQ6LHGHQ6WH.NHULQGHQ1HW]DQV.KOX‰GHV7HOHIRQVHLQVWH.NHQPX‰GDV7ULXP/RJR QD.KREHQZHLVHQ$QGHUIDOOVIXQNWLRQLHUWGDV+HDGVHWQL.KWNRUUHNW 9HUZHQGXQJGHV+HDGVHWV 6WH.NHQ6LHGHQ/DXWVSUH.KHU GHV+HDGVHWVLQ,KU2KU 'DV0LNURIRQGHV+HDGVHWV /DXWVSUH.KHU EHILQGHWVL.KGDQQLQEHTXH PHU6SUH.KK|KH 0LNURIRQ 6LHN|QQHQGXU.K'U.NHQ YRQ RGHU HLQHQ$QUXI HQWJHJHQQHKPHQDEZHLVHQ XQGEHHQGHQ VLHKH6HLWH  'LH/DXWVSUH.KHUODXWVWlUNH VWHOOHQ6LHPLW RGHU HLQ $EQHKPHQGHV+HDGVHWV 1HKPHQ6LHGHQ+HDGVHWVWH.NHUZLHJH]HLJWQD.KXQWHQYRP$QV.KOX‰...
  • Seite 76 $XVZH.KVHOQGHU)URQWEOHQGH QXUIU0DUV %HYRU6LHGLH)URQWEOHQGHDXVZH.KVHOQPVVHQ6LHVWHWVGDV7HOHIRQDXVV.KDOWHQ XQGJJIYRP/DGHJHUlWRGHU)DKU]HXJ.LWWUHQQHQ $EQHKPHQGHU)URQWEOHQGH 6WH.NHQ6LHHLQHQNOHLQHQVWXPSIHQ*HJHQVWDQG]%HLQH%UR NODPPHULQGHQ6.KOLW]XQGKHEHQ6LHHLQ(QGHGHU)URQWEOHQGH YRUVL.KWLJDQ +DOWHQ6LHGDVDQJHKREHQH(QGHGHU)URQWEOHQGHDQKHEHQ6LH VLHOHL.KWQD.KREHQXQG]LHKHQ6LHVLHGDQQYRUVL.KWLJQD.K XQWHQ'LH)URQWEOHQGHO|VWVL.KGDPLWYRP7HOHIRQ 6.KOLW] $XIVHW]HQGHU)URQWEOHQGH 6HW]HQ6LHGLH+DNHQGHU)URQWEOHQGHREHQDP7HOHIRQLQGLH 6.KOLW]HHLQ 'U.NHQ6LHGLH)URQWEOHQGHQD.KXQWHQELVVLHHLQUDVWHWXQG IHVWVLW]W +DNHQ &OLSV +DNHQV.KOLW]H :HQGHQ6LHEHLP$XVZH.KVHOQGHU)URQWEOHQGHNHLQHXQQ|WLJH*HZDOWDQ$.KWHQ6LHGDUDXIGD‰ GLH)URQWEOHQGHQL.KW]XVWDUNJHERJHQZLUG:H.KVHOQ6LHGLH)URQWEOHQGHQL.KW]XKlXILJDXVGD VRQVWGLH+DNHQXQG&OLSVHUPGHQ6HW]HQ6LHGDV7HOHIRQQL.KWGHPGLUHNWHQ6RQQHQOL.KWDXV /DVVHQ6LHGLH)URQWEOHQGHLPPHUDXIGHP7HOHIRQZHQQ6LHHVJHEUDX.KHQ5HLQLJHQ6LHGDV 7HOHIRQXQGRGHUGLH)URQWEOHQGHQL.KWPLW$ONRKRORGHUVWDUNHQ&KHPLNDOLHQRGHU/|VXQJVPLWWHOQ (VGDUIQXUPLWHLQHPZHL.KHQOHL.KWDQJHIHX.KWHWHQ7X.KJHUHLQLJWZHUGHQ/HVHQ6LHELWWHGLH 3IOHJHXQG:DUWXQJ$QZHLVXQJHQDXI6HLWH...
  • Seite 77 $XVZH.KVHOQGHV%RG\6KDSH QXUIU0DUV $QEULQJHQGHV%RG\6KDSH 6WH.NHQ6LHGDVXQWHUH(QGHGHV7HOHIRQVZLHJH]HLJWLQGHQ%RG\ 6KDSH =LHKHQ6LHGHQ%RG\6KDSHJDQ]EHUGHQREHUHQ7HLOGHV7HOH IRQV9HUJHZLVVHUQ6LHVL.KGD‰HUUL.KWLJVLW]W $EQHKPHQGHV%RG\6KDSH =LHKHQ6LHGHQ%RG\6KDSHYRPREHUHQ7HLOGHV7HOHIRQVKHUXQ WHU 'HU%RG\6KDSHNDQQQXQDEJHQRPPHQZHUGHQ...
  • Seite 78 $XVZH.KVHOQGHU.ODSSH QXUIU1HSWXQH $EQHKPHQGHU.ODSSH gIIQHQ6LHGLH.ODSSH 'UHKHQ6LHGLH.ODSSHOHL.KWQD.KOLQNVRGHUUH.KWVXPHLQHVGHU 6.KDUQLHUH]XO|VHQ 1HKPHQ6LHGLH.ODSSHQXQDXVGHPDQGHUHQ6.KDUQLHUKHUDXV $XIVHW]HQGHU.ODSSH 6HW]HQ6LHGLH.ODSSHZLHXQWHQJH]HLJWLQHLQHVGHU6.KDUQLHUHHLQ 'UHKHQ6LHGLH.ODSSHOHL.KWXPVLHLQGDVDQGHUH6.KDUQLHUHLQ]X VHW]HQ9HUJHZLVVHUQ6LHVL.KGD‰GLH.ODSSHUL.KWLJHLQJHVHW]WLVW 6.KOLH‰HQ6LHGLH.ODSSH...
  • Seite 79 $QKDQJ *ORVVDU $XVGUX.N %HGHXWXQJ $&'&/DGHJHUlW :H.KVHOVWURP*OHL.KVWURP/DGHJHUlW $NWLYHU$QUXI 'DV*HVSUl.KGDV6LH]XU=HLWIKUHQ $OWHUQDWH/LQH /HLWXQJ 6HUYL.H $R& *HEKUHQDQ]HLJH =XVDW]GLHQVW $ERQQHPHQWGLHQVW %HUHLWV.KDIWVPRGXV :HQQGDV7HOHIRQHLQJHV.KDOWHWXQGEHLHLQHP1HW]UHJL VWULHUWMHGR.K]XU=HLWNHLQHQ$QUXIWlWLJWRGHUHQWJHJHQ QLPPW &% &HOO%URDG.DVW±=HOO,QIR$OOJHPHLQH1D.KUL.KWHQ &/$ .)=/DGHNDEHO &/, &DOOHU/LQH,GHQWLW\±]HLJWGLH1XPPHUGHV$QUXIHUVDQ &6' &LU.XLW6ZLW.KHG'DWD OHLWXQJVYHUPLWWHOWH'DWHQ 'DWD(Q.U\SWLRQ6WDQGDUG 'DWHQYHUV.KOVVHOXQJVVWDQ GDUG '7& 7LV.KODGHJHUlW '70) 'XDO7RQH0XOWLIUHTXHQ.\7RQHV 0)97|QH )L[HGGLDOOLQJQXPEHUV)L[QXPPHUQZDKO *HV.KORVVHQH%HQXW]HUJUXSSH±HUIRUGHUW1HW]XQWHUVWW ]XQJ *HVSUl.KVPRGXV :HQQGDV7HOHIRQHLQHQ$QUXIWlWLJWRGHUHQWJHJHQQLPPW *356 *HQHUDO3D.NHW5DGLR6HUYL.H 'DWHQEHUWUDJXQJVSURWR NROO *OREDO6\VWHPIRU0RELOH.RPPXQL.DWLRQV )UHLVSUH.KHLQUL.KWXQJ KWWS +\SHU7H[W7UDQVIHU3URWR.RO ,QWHUQHW ,QIRUPDWLRQ1XPEHUV,KUHV1HW]EHWUHLEHUVRGHU'LHQVWHDQ ELHWHUV...
  • Seite 80 ,QWHUQHW3URWR.RO /&' )OVVLJNULVWDOODQ]HLJH /HX.KWGLRGH 0DQPD.KLQH,QWHUID.H0HQV.K0DV.KLQH6.KQLWWVWHOOH 3,13,1 3HUVRQDO,GHQWLIL.DWLRQ1XPEHU6,0.DUWH(UKDOWHQ6LH YRQ,KUHP1HW]EHWUHLEHU'LHQVWHDQELHWHU 3RLQWWR3RLQW3URWR.RO ,QWHUQHW 38.38. 3,18QEOR.NLQJ.H\'LHQW]XP(QWVSHUUHQYRQ3,1XQG 3,19RP1HW]'LHQVWHDQELHWHUPLWJHWHLOW 5RDPLQJ 5P 'LH0|JOL.KNHLWPLW,KUHP7HOHIRQLQDQGHUHQDXVOlQGL V.KHQ1HW]HQ]XWHOHIRQLHUHQ 6HUYL.H'LDOOLQJ1XPEHU,KUHV1HW]EHWUHLEHUVRGHU 'LHQVWHDQELHWHUV 6XEV.ULEHU,GHQWLW\0RGXOH6,0.DUWH(UKDOWHQ6LHYRQ ,KUHP1HW]EHWUHLEHU'LHQVWHDQELHWHU 6KRUW0HVVDJH6HUYL.H.XU]QD.KUL.KWHQGLHQVW 6HUYL.H3URYLGHU1DPH'LHQVWHDQELHWHUQDPH 6WDWXV5HSRUW6WDWXVEHUL.KWIU606.XU]QD.KUL.KWHQ 8POHLWXQJ /HLWHWDQNRPPHQGH$QUXIH]XHLQHUDQGHUHQ1XPPHUXP 8QLIRUP5HVRXU.H/R.DWRU ,QWHUQHW :LUHOHVV$SSOL.DWLRQ(QYLURQPHQW :$3Œ :LUHOHVV$SSOL.DWLRQ3URWR.RO :LUHOHVV'DWDJUDP3URWR.RO :LUHOHVV0DUNXS/DQJXDJH :0/6 :LUHOHVV0DUNXS/DQJXDJH6.ULSW :LUHOHVV6HVVLRQ3URWR.RO :7$, :LUHOHVV7HOHSKRQ\$SSOL.DWLRQ,QWHUID.H :LUHOHVV7UDQVSRUW3URWR.RO...
  • Seite 81 )HKOHUVX.KH 3UREOHP 0|JOL.KH8UVD.KHXQG/|VXQJ 7HOHIRQOlVVWVL.KQL.KW 6WHOOHQ6LHVL.KHUGDVVGHU$NNXDXIJHODGHQXQGUL.KWLJDQ HLQV.KDOWHQ GDV7HOHIRQDQJHV.KORVVHQLVW 'LH/DGH/('OHX.KWHW 9HUPXWOL.KNHLQH6WURPYHUVRUJXQJ6WH.NGRVHEHUSUIHQ QL.KWURWXQGGDV$N )HKOHUKDIWHV/DGHJHUlW3URELHUHQ6LHEHL,KUHP+lQGOHUHLQ NXV\PEROEOLQNWQL.KW DQGHUHV0LWVXELVKL/DGHJHUlWDXV:HQGHQ6LHVL.KDQ,K UHQ+lQGOHU =XNXU]H%HUHLWV.KDIWV =HOO,QIR$OOJHPHLQH1D.KUL.KWHQLVWLPPHUDNWLYLHUWXQG XQG*HVSUl.KV]HLWHQ IKUW]XK|KHUHP6WURPYHUEUDX.K 'DV7HOHIRQEHILQGHWVL.KLQHLQHP%HUHL.KPLWV.KZD.KHP 6LJQDOXQGEUDX.KWGDKHULPPHUGLHYROOH/HLVWXQJ )DOV.KHV/DGHQXQG(QWODGHQ/DGHQXQGHQWODGHQ6LHGHQ $NNXLPPHUYROOVWlQGLJ 'HU$NNXZLUGV.KZD.K$NNXHUVHW]HQ (VVLQGNHLQH*HVSUl 9HUJHZLVVHUQ6LHVL.KGDVVDXIGHU6LJQDOVWlUNHQDQ]HLJH .KHP|JOL.K PLQGHVWHQVHLQ%DONHQ]XVHKHQLVW 9HUVX.KHQ6LHHV LQHLQHP%HUHL.KPLWK|KHUHU6LJQDOVWlUNH :LUGGHU1DPHHLQHV1HW]HVDQJH]HLJW")DOOVQL.KWLVW,KUH 6,0.DUWH2."hEHUSUIHQ6LH,KUH5HJLVWULHUXQJEHL,KUHP 1HW]EHWUHLEHU'LHQVWHDQELHWHU $QUXIVSHUUHLVWHLQJHV.KDOWHW$XVV.KDOWHQ VLHKH6HLWH   $QUXI*HEKUHQOLPLWHUUHL.KW VLHKH6HLWH  *HVSHL.KHUWH7HOHIRQ )'1 )L[QXPPHUQ RGHU$QUXIVSHUUHVLQGHLQJHV.KDOWHW QXPPHUQN|QQHQ hEHUSUIHQ6LHGLHVH)XQNWLRQHQXQGV.KDOWHQ6LHVLHDXV QL.KWDEJHUXIHQZHU VLHKH6HLWH XQG   1XPPHUQN|QQHQ 'LH7DVWDWXUVSHUUHLVWDNWLY...
  • Seite 82 )HKOHUPHOGXQJHQ 3UREOHP 0|JOL.KH8UVD.KHXQG/|VXQJ $EJHEUR.KHQ.HLQ 'LH$NWLYLHUXQJYRQ=HOO,QIR$OOJHPHLQH1D.KUL.KWHQ 7\SDXVJHZlKOW ZXUGHEHDQWUDJWHVZXUGHMHGR.KNHLQ1D.KUL.KWHQW\S DXVJHZlKOW $NNXOHHU 'LHVH0HOGXQJZLUGDQJH]HLJWZHQQGHU$NNXIDVWOHHULVW XQGGDV7HOHIRQEDOGDXWRPDWLV.KDEJHV.KDOWHWZLUG $QUXI 'HU%HQXW]HULVWXQHUUHL.KEDU IHKOJHV.KODJHQ 'HUDXVJHKHQGH$QUXIV.KOlJWIHKOZHLO HLQH*%*YHUZHQGHWZLUGXQGYRP1HW]QL.KWHUODXEW QL.KWHUNDQQWZLUGRGHU GDV1HW]DXIJUXQGHLQHV5HVVRXU.HQPDQJHOVGHQ$QUXI QL.KWEHU.NVL.KWLJWRGHU GLH1XPPHUDX‰HU%HWULHELVWRGHU GLH1XPPHUXQHUUHL.KEDULVWRGHU GDV1HW]QL.KWDQWZRUWHWRGHU GLH2SWLRQ]XP9HUEHUJHQ,KUHU7HOHIRQQXPPHUQL.KW YRP1HW]XQWHUVWW]WZLUG 3UIHQRE*%*YHUZHQGHWZLUGXQG*%*3DUDPHWHUVR ZLH*%*9HUIJEDUNHLWLP1HW]EHUSUIHQ 3UIHQ6LHGLH0|JOL.KNHLW,KUH,'EHLHLQHP$QUXI]X YHUEHUJHQ 9HUIJEDUNHLWGHV'LHQVWHVLP1HW]  %HVHW]W 6LHYHUVX.KHQHLQHQ$QUXI]XIKUHQDEHUGHU$QUXI V.KOlJWIHKOGDGLH*HJHQVHLWHEHUHLWVHLQHQ$QUXIIKUW 'LHQVWQL.KW %HL$NWLYLHUXQJPDQ.KHU*60'LHQVWHGLHLP1HW]QL.KW YHUIJEDU YHUIJEDUVLQG )DOV.KH(LQJDEH 6LHKDEHQHLQH=HL.KHQIROJHPLWHLQHP6\QWD[IHKOHUHLQ JHJHEHQ )DOV.KH3,1HUQHXW )DOV.KHU&RGHHLQJHJHEHQ YHUVX.KHQ )DOV.KH3,1 HUQHXWYHUVX.KHQ...
  • Seite 83 )HKOJHV.KODJHQ )HKOHUEHLP9HUVHQGHQHLQHU606 GLH.XU]QD.KUL.KW NDQQQL.KWJHVHQGHWZHUGHQ  *%*$QUXI 6LHKDEHQYHUVX.KWHLQHQ$QUXILQHLQHU*%* JHV.KORV IHKOJHV.KODJHQ VHQH%HQXW]HUJUXSSH YRU]XQHKPHQGHU$QUXIZXUGH YRP1HW]ZHUNDEJHZLHVHQGDGDV1HW]GLH*%*3DUDPH WHUQL.KWHUNHQQWRGHU GHUDQJHUXIHQH%HQXW]HUQL.KWLQGHUVHOEHQ*%*LVWRGHU GHUDQJHUXIHQH%HQXW]HUQL.KWPLWHLQHU*%*YHUEXQGHQ LVW *HVSHUUW'U.NHQ (VZXUGHHLQH7DVWHJHGU.NWZlKUHQGGLH7DVWHQVSHUUH 6LH (QWVSHUUHQ   DNWLYLVW XPGLH6SHUUH DXI]XKHEHQ .DQQ%HIHKOQL.KW 6LHKDEHQHLQH)XQNWLRQJHZlKOWGLHLQGHPJHJHQZlUWL DXVIKUHQ JHQ$QUXI]XVWDQGQL.KWDXVJHIKUWZHUGHQNDQQ .DQQ1D.KUL.KW 'HU.XU]QD.KUL.KWHQWH[WNDQQQL.KWDQJH]HLJWZHUGHQ QL.KWDQ]HLJHQ =HL.KHQQL.KWHUNDQQWIDOV.KHV)RUPDWXVZ .HLQH$NWLRQ :HQQHLQ.RSLHU9HUV.KLHEHQ9RUJDQJPLW6SHL.KHUSOlW ]HQGXU.KJHIKUWZLUGXQGNHLQH3DUDPHWHUJHlQGHUW ZHUGHQ GLHVHOEHQ6SHL.KHUSOlW]H1XPPHUQXQG1D PHQ  .HLQH$QWZRUW 6LHKDEHQHLQHQ%HQXW]HUDQJHUXIHQHVZXUGHMHGR.K NHLQH$QWZRUWHPSIDQJHQ .UHGLWOLPLW 6LHYHUVX.KHQHLQDXVJHKHQGHV*HVSUl.K]XIKUHQXQG HUUHL.KW GDV.UHGLWOLPLWLVWEHUHLWVHUUHL.KW 'DV.UHGLWOLPLWZLUGZlKUHQGHLQHVDXVJHKHQGHQ*H VSUl.KVHUUHL.KW GHU$QUXIZLUGDEJHEUR.KHQ  .UHGLWOLPLWHUUHL.KW 'DV*HEKUHQOLPLWZLUGLQ.U]HHUUHL.KW'HUYHUEXQGH QH$QUXIHQGHWDXWRPDWLV.KZHQQGDV/LPLWHUUHL.KW...
  • Seite 84 1XPPHUJHlQGHUW 'LHDQJHUXIHQH1XPPHUKDWVL.KJHlQGHUW 3D‰ZRUWEHUSUIHQ 6LHKDEHQGDV$QUXIVSHUUH3D‰ZRUWJHlQGHUWRGHU 6LHKDEHQGHQ6WDWXVGHV$QUXIVSHUUH'LHQVWHVJHlQGHUW 'DVHLQJHJHEHQH3D‰ZRUWV.KHLQWIDOV.K]XVHLQ 3,1JHVSHUUW (VZXUGHGUHL0DOHLQIDOV.KHU3,1&RGHHLQJHJHEHQ 3,1JHVSHUUW (VZXUGHGUHL0DOHLQIDOV.KHU3,1&RGHHLQJHJHEHQ 38.JHVSHUUW (VZXUGH]HKQ0DOHLQIDOV.KHU38.&RGHHLQJHJHEHQ 'LHGXU.KGHQ3,1&RGHJHV.KW]WHQ6,0'LHQVWHVLQG QXQSHUPDQHQWGHDNWLYLHUW 5XIWRQ/DXWVWlUNH 'LH/DXWVWlUNHGHV.OLQJHOVLJQDOVLVWDXIJHVHW]W 6,0JHVSHUUW38. (VZXUGHGUHL0DOHLQIDOV.KHU3,1&RGHHLQJHJHEHQ HLQJHEHQ 38.&RGHHLQJHEHQXPGLH6,0.DUWH]XHQWVSHUUHQ 6,0JHVSHUUW (VZXUGH]HKQ0DOHLQIDOV.KHU38.&RGHHLQJHJHEHQ :HQGHQ6LHVL.KDQ 'LH6,0.DUWHZXUGHSHUPDQHQWGHDNWLYLHUWXQGPX‰ ,KUHQ GXU.KHLQHQHXHHUVHW]WZHUGHQ 1HW]EHWUHLEHU 6,0EHUSUIHQ .HLQH6,0HLQJHOHJWRGHU6,0IDOV.KHLQJHOHJW:HLWHUH (LQ]HOKHLWHQILQGHQ6LHDXI6HLWH 6,0YROO 'HUHQWVSUH.KHQGH6SHL.KHUEHUHL.KLVWYROO 6,0 1DPHQVVSHL.KHU YROO 7HOHIRQVSHL.KHUYROO 6066SHL.KHUSOlW]H 6SHL.KHUXQJQHXHU6061D.KUL.KWHQ EHL(UVWHOOHQHLQHU YROO QHXHQ1D.KUL.KW QL.KWP|JOL.K hEHUSUIHQ6LH,KUH 6LHKDEHQHLQH)XQNWLRQJHZlKOWGLHQL.KWDXVJHIKUW $QIUDJH...
  • Seite 85 *DUDQWLH 3DQHXURSlLV.KHU6HUYL.H )DOOV6LH6HUYL.HEHQ|WLJHQVROOWHQ6LHVL.K]XQl.KVWDQ,KUHQ/LHIHUDQWHQZHQGHQ 6ROOWHQ6LHDXI6.KZLHULJNHLWHQVWR‰HQVRVHW]HQ6LHVL.KELWWHPLWGHPQl.KVWJHOHJHQHQ 0,768%,6+,=ZHLJVWHOOH VLHKHQD.KVWHKHQGH/LVWH LQ9HUELQGXQJEHLGHU6LH,QIRUPDWLR QHQEHUZHLWHUH6HUYL.HVWHOOHQHUKDOWHQ *5266%5,7$11,(1 63$1,(1 7HO   7HO   )5$1.5(,&+ ,7$/,(1 7HO   7HO   '(876&+/$1' ,5/$1' 7HO   7HO   8PLP5DKPHQGHU*DUDQWLH6HUYL.HOHLVWXQJHQLQ$QVSUX.KQHKPHQ]XN|QQHQEHQ|WLJHQ 6LHGDV2ULJLQDO,KUHU.DXIUH.KQXQJRGHUHLQHQDQGHUHQHLQGHXWLJHQ.DXIEHOHJ %LWWHEHD.KWHQ6LHGLH*DUDQWLHEHGLQJXQJHQIUGLHJDUDQWLHUWHQ6HUYL.HOHLVWXQJHQ 3DQHXURSlLV.KH*DUDQWLHEHGLQJXQJHQIU*60(QGEHQXW]HU 6LHN|QQHQGLHVH*HZlKUOHLVWXQJQXULQ$QVSUX.KQHKPHQZHQQ6LHGHUXUVSUQJOL.KH .lXIHUVLQGDQGHQGDV3URGXNW]XU(QGEHQXW]XQJDEJHJHEHQZXUGH 0,768%,6+,JHZlKUOHLVWHWIU0RQDWHDEGHP'DWXPGHV.DXIVYRQ,KUHP+lQGOHUGD‰ GDV3URGXNWNHLQH0DWHULDORGHU9HUDUEHLWXQJVIHKOHUDXIZHLVW*HPl‰GHQXQWHQVWHKHQ GHQ%HGLQJXQJHQZLUG,KQHQ0,768%,6+,DOOH.RVWHQIU(UVDW]WHLOHXQG$UEHLWVNRVWHQIU GLH5HSDUDWXURGHUGHQ$XVWDXV.KGHV3URGXNWHVRGHUYRQ(UVDW]WHLOHQ HLQV.KOLH‰OL.K7HLOHQ lKQOL.KHU$UW HUVWDWWHQIDOOVGLHVH$UEHLWHQGXU.KHLQDXWRULVLHUWHV0,768%,6+,*606HU YL.H&HQWHUGXU.KJHIKUWZXUGHQ0LWVXELVKLLVWEHUH.KWLJWGDVDXVJHWDXV.KWH3URGXNW]X EHKDOWHQ $QVSU.KHPVVHQJHJHQEHUHLQHPDXWRULVLHUWHQ*606HUYL.H&HQWHULQGHQ/lQGHUQGLH LQGHUGHP3URGXNWEHLJHIJWHQ6HUYL.H.DUWHDXIJHIKUWVLQGJHOWHQGJHPD.KWZHUGHQ %HL3UREOHPHQN|QQHQ6LHVL.KEHLGHPLQGHU6HUYL.H.DUWHJHQDQQWHQ0LWVXELVKL8QWHU QHKPHQQD.KHLQHP0,768%,6+,*606HUYL.H&HQWHULQ,KUHU1lKHHUNXQGLJHQ$OV%HGLQ JXQJIUGLH,QDQVSUX.KQDKPHGLHVHU*HZlKUOHLVWXQJPX‰GDV.DXIGDWXPGXU.KGLH 2ULJLQDO/LHIHUDQWHQUH.KQXQJRGHU,KUHQ.DXIEHOHJPLWGHU6HULHQQXPPHUQD.KJHZLHVHQ...
  • Seite 86: Konformitätserklärung

    .RQIRUPLWlWVHUNOlUXQJ KONFORMITÄTSERKLÄRUNG Name : Mitsubishi Electric Telecom Europe S.A. RCS Nanterre B 307 593 129 : 25, boulevard des Bouvets Anschrift : Nanterre Cedex : 92741 Identifizierung des Produktes : Mobiltelefon : Dual band GSM 900/DCS 1800 : MT-050 Handelsbezeichnung Sonstige Informationen Identifizierung der Benachrichtigungsstelle Name...
  • Seite 87 KONFORMITÄTSERKLÄRUNG : Mitsubishi Electric Telecom Europe S.A. Name RCS Nanterre B 307 593 129 Anschrift : 25, boulevard des Bouvets : Nanterre Cedex : 92741 Identifizierung des Produktes : Mobiltelefon : Dual band GSM 900/DCS 1800 Handelsbezeichnung : MT-250 Sonstige Informationen Identifizierung der Benachrichtigungsstelle Name : Autorité...
  • Seite 88 ,QGH[ $QUXIVSHUUH  3D‰ZRUW  $NNX  $QUXI7LPHU $ODUPODXWVWlUNH =XU.NVHW]HQ   (LQVHW]HQ $Q]HLJHNRQWUDVW  (QWVRUJXQJ  $XWR *HEUDX.K  $QQDKPH  +HUDXVQHKPHQ  :LHGHUKROXQJ  /DGHQ  $XWR$EV.KDOWXQJ  6L.KHUKHLWVLQIRUPDWLRQHQ  $XWRPDWLV.KH6X.KHZlKOHQ  :DUQXQJEHLOHHUHP$NNX $NNXDEGH.NXQJ $EQHKPHQ  %HUHLWV.KDIWVDQ]HLJH   DXIVHW]HQ  %RG\6KDSH $ODUP...
  • Seite 89 (LJHQH1XPPHUQ  )'1   (LQ$XVV.KDOWHQ )HKOHUPHOGXQJHQ   $XV   )HKOHUVX.KH   (LQ   )L[QXPPHUQZDKO   (LQH6061D.KUL.KW )UHLVSUH.KIXQNWLRQ   VHQGHQ   )URQWEOHQGH VSHL.KHUQ  DEQHKPHQ   (LQHQ$QUXI DXIVHW]HQ   EHHQGHQ   DXVZH.KVHOQ   HQWJHJHQQHKPHQ   SDUNHQ  ...
  • Seite 90 /HVH]HL.KHQ $QOHJHQ   ,.RQV /|V.KHQ   ,Q,KUHPHLJHQHQ,QWHUHVVH  YHUZHQGHQ  ,QIRUPDWLRQQXPEHUV  /HW]WHJHZlKOWH5XIQXPPHUQ  ,QWHUQHW  /RJLQ1DPH   ,QWHUQHW%URZVHU /RJLQ3DVVZRUW   $QGHUH6LWH  /|VXQJHQ   $QSDVVHQ  (LQVWHOOXQJHQ  +RPH3DJH  0DLOER[  ,3$GUHVVH $ODUP  /HVH]HL.KHQ  $QUXI   /RJLQ1DPH ...
  • Seite 91 1D.KUL.KWHQ   5HVKDSH   1D.KUL.KWHQ'LHQVW 5XIWRQ  $ODUP   5XIW|QH   0LWWHLOXQJVW\SHQ   1D.KUL.KWHQW\SHQ   6'16HUYL.H7HOHIRQQXPPHUQGHV 6SUD.KH   'LHQVWHDQELHWHUV  1D.KUL.KWHQYRUODJHQ  6L.KHUKHLW   1HWZRUN6HUY   &RGHV  1HWZRUNVHUYL.HV  )XQNWLRQHQ  1HW]  LP)DKU]HXJ   1RWL]EOR.N  ...
  • Seite 92 77H[WHLQJDEH  :DKO 7DVWDWXUVSHUUH  6SHL.KHUGHV$QUXIUHJLVWHUV   7HJL. 7  7HOHIRQEX.K  7HOHIRQ :lKUXQJVXPUH.KQHU   VSH]LILV.KH$QSDVVXQJ  :DUQPRGXV   7HOHIRQEX.K $XIUXI  =ZHLWHU$QUXI  %HVWLPPWH:DKO (LJHQH1XPPHUQ  )UHLH6SHL.KHUSOlW]H  1R.KIUHL  1XPPHUQDQUXIHQ  1XPPHUQHLQVHKHQ  6SHL.KHUQ  7HOHIRQHLQVWHOOXQJHQ  7HOHIRQQXPPHU  7HOHIRQVSHUUH &RGH ...

Diese Anleitung auch für:

Neptune