*HEUDXFKV XQG ,QVWDOODWLRQVDQZHLVXQJ -(& *ODVNHUDPLNNRFKIHOG PK VF
/LHEH .XQGLQ OLHEHU .XQGH :LU GDQNHQ ,KQHQ GDVV 6LH VLFK IU HLQ -812 *ODV NHUDPLNNRFKIHOG HQWVFKLHGHQ KDEHQ 6LH KDEHQ GDPLW DXI 4XDOLWlW XQG 'DXHUKDIWLJNHLW JHVHW]W 'LHVH *HEUDXFKVDQZHLVXQJ HUP|JOLFKW HV ,KQHQ ,KU *ODVNHUDPLNNRFKIHOG 6FKULWW IU 6FKULWW NHQQHQ]XOHU QHQ XQG DOO VHLQH 0|JOLFKNHLWHQ RSWLPDO ]X QXW]HQ ,Q MHGHP )DOOH VROOWHQ 6LH YRU GHU HUVWHQ ,QEHWULHEQDKPH GDV .DSLWHO ©:LFKWLJH 6LFKHUKHLWVKLQZHLVHª GXUFK OHVHQ :LU HPSIHKOHQ ,KQHQ GLH *HEUDXFKVDQZHLVXQJ LQ GHU 1lKH GHU .
,QKDOWVYHU]HLFKQLV :LFKWLJH 6LFKHUKHLWVKLQZHLVH 'DV (LQEDX *ODVNHUDPLNNRFKIHOG 9RU GHP HUVWHQ %HQXW]HQ 'LH %HGLHQXQJ GHU .
:LFKWLJH 6LFKHUKHLWVKLQZHLVH 0DFKHQ 6LH VLFK ELWWH YRU GHP HUVWHQ *HEUDXFK GHV *HUlWHV PLW GHU *HEUDXFKVDQZHLVXQJ YHU WUDXW %LWWH DFKWHQ 6LH VSH]LHOO DXI GLH 6LFKHUKHLWV JHNHQQ]HLFKQHW VLQG KLQZHLVH GLH PLW HLQHP 'LH .RFK]RQHQ ZHUGHQ QDFK GHP (LQVFKDOWHQ VFKQHOO KHLVV VFKDOWHQ 6LH GDKHU HUVW HLQ ZHQQ 6LH HLQ .
'LH *ODVNHUDPLN .RFKIOlFKH LVW WHPSHUDWXUVFKRFN IHVW 6RZRKO .lOWH DOV DXFK +LW]H N|QQHQ LKU QLFKWV DQ KDEHQ 9HUPHLGHQ 6LH DEHU GDVV *HJHQVWlQGH DXI GDV .RFKIHOG IDOOHQ 3XQNWI|UPLJH 6FKODJEHODVWXQ JHQ ] % GXUFK GDV +HUXQWHUIDOOHQ HLQHV *HZU] IOlVFKFKHQ N|QQHQ LQ XQJQVWLJHQ )lOOHQ ]X 5LVVHQ RGHU %UFKHQ LQ GHU *ODVNHUDPLNSODWWH IKUHQ 'XUFK GHIHNWH 6WHOOHQ N|QQHQ EHUNRFKHQGH 6SHLVHQ DQ VSDQQXQJVIKUHQGH 7HLOH GHV .
'DV (LQEDX *ODVNHUDPLNNRFKIHOG *HUlWHEHUVLFKW .RFK]RQH =ZHLNUHLV .RFK]RQH .RFK]RQH =ZHLNUHLV 9 .RFK]RQH .RFK]RQHQ PP : [ PP : PP : [ PP : %HUKUXQJVWDVWHQ :DUPKDOWH]RQH 6SDQQXQJ $& *HVDPW /HLVWXQJVDXIQDKPH N: 9RU GHP HUVWHQ %HQXW]HQ (UVWUHLQLJXQJ 8P P|JOLFKH )HUWLJXQJVVSXUHQ ]X EHVHLWLJHQ LVW GDV .
'LH %HGLHQXQJ GHU .RFKVWHOOH *ODVNHUDPLNNRFKIOlFKH 'LH .RFKIOlFKH EHVWHKW DXV EHZlKUWHU *ODVNHUDPLN 'LH 2EHUIOlFKH LVW SRUHQIUHL XQG DXVVHUGHP XQHPS ILQGOLFK JHJHQ VFKQHOOH 7HPSHUDWXUVFKZDQNXQJHQ 7|SIH N|QQHQ GDKHU YRQ HLQHU KHLVVHQ DXI HLQH NDOWH =RQH JHVWHOOW ZHUGHQ %HLP (LQVFKDOWHQ GHU .RFK]RQHQ NDQQ HV NXU]]HLWLJ ]X HLQHP K|UEDUHQ 6XPPHQ LP +HL]N|USHU NRPPHQ 'LHVHV *HUlXVFK LVW SK\VLNDOLVFK EHGLQJW KDW NHLQH QHJDWLYH $XVZLUNXQJ DXI GLH )XQNWLRQ GHV *HUlWHV XQG YHUOLHUW VLFK ZHQQ GLH .
5HVWZlUPHDQ]HLJH =ZLVFKHQ GHQ EHLGHQ YRUGHUHQ .RFK]RQHQ EHILQGHW VLFK GLH 5HVWZlUPHDQ]HLJH PLW .RQWUROODPSHQ 'LHVH OHXFKWHQ DXI ZHQQ GLH 7HPSHUDWXU GHU HLQJH VFKDOWHWHQ .RFK]RQHQ DQVWHLJW XQG ZDUQHQ YRU XQEH GDFKWHU %HUKUXQJ $XFK QDFK GHP $XVVFKDOWHQ GHU .RFK]RQH HUOLVFKW GLH HQWVSUHFKHQGH /DPSH HUVW ZHQQ NHLQH 9HUEUHQQXQJVJHIDKU PHKU EHVWHKW EHL FD R& R& 5HVWZlUPHDQ]HLJH :DUPKDOWH]RQH ,KU .
'DV ULFKWLJH .RFKJHVFKLUU 6LQQYROOHU (QHUJLHYHUEUDXFK 8P (QHUJLH ]X VSDUHQ VROOWHQ 6LH QXU JHHLJQHWHV .RFK XQG %UDWJHVFKLUU PLW JODW WHP HEHQHP %RGHQ YHUZHQGHQ 7|SIH XQG 3IDQQHQ JUXQGVlW]OLFK YRU GHP (LQ VFKDOWHQ GHU .RFK]RQH DXIVHW]HQ 7|SIH XQG 3IDQQHQ LPPHU ZR P|JOLFK PLW GHP 'HFNHO YHUVFKOLHVVHQ GLH .RFK]RQH HLQLJH 0LQXWHQ YRU (QGH GHU .RFK ]HLW DEVFKDOWHQ XP GLH 5HVWZlUPH ]X QXW]HQ GLH 5HVWZlUPH GHU .
5HLQLJXQJ XQG 3IOHJH =XP 5HLQLJHQ GHU *ODVNHUDPLNIOlFKH JHOWHQ GLH JOHL FKHQ *HVLFKWVSXQNWH ZLH IU *ODVIOlFKHQ $XI NHLQHQ )DOO VFKHXHUQGH RGHU DJJUHVVLYH 5HLQLJXQJVPLWWHO RGHU 6FKHXHUVDQG XQG 6FKZlPPH HWF PLW NUDW]HQGHU 2EHUIOlFKH YHUZHQGHQ 6SH]LDO 5HLQLJXQJVPLWWHO XQG .
7UDJHQ 6LH GLH *ODVNHUDPLN 5HLQLJXQJVPLWWHO QLFKW DXI GLH KHLVVH .
:DV WXQ LP )DOOH HLQHV 'HIHNWV " .RFKVWHOOHQVFKDOWHU RGHU 7DVWHQ LQ GLH $86 3RVLWLRQ VWHOOHQ 6LFKHUXQJVDXWRPDWHQ DXVVFKDOWHQ E]Z 6LFKHUXQJHQ KHUDXVGUHKHQ 5HNODPDWLRQ EHL ,KUHP (OHNWULNHU RGHU GHU ]XVWlQGLJHQ .XQGHQGLHQVW PHOGHQ 6ROOWH GDV *ODVNHUDPLNNRFKIHOG HLQHQ *ODVEUXFK DXIZHLVHQ VR JHEHQ 6LH ELWWH GHU .
7HFKQLVFKH 'DWHQ -(& $XVVHQPDVVH %UHLWH PP 7LHIH PP +|KH PP $XVVFKQLWWPDVVH %UHLWH PP 7LHIH PP 5DGLXV 5 $QVFKOXVVZ
,QVWDOODWLRQVDQZHLVXQJ 'DV *HUlW GDUI QXU GXUFK HLQHQ (OHNWUR IDFKPDQQ DQJHVFKORVVHQ ZHUGHQ %HLP (LQEDX XQG LP 6HUYLFHIDOO PXVV GHU (LQ EDXKHUG 5HFKDXG 6FKDOWNDVWHQ RGHU GLH HOHNWURQLVFKH 6WHXHUXQJ YRP 1HW] JHWUHQQW ZHUGHQ 6LFKHUXQJHQ DXVVFKDOWHQ RGHU KHU DXVQHKPHQ 'LH DOOJHPHLQHQ 5LFKWOLQLHQ IU GHQ %HWULHE YRQ (OHNWURJHUlWHQ GLH 9RUVFKULIWHQ GHV ]X VWlQGLJHQ (OHNWUL]LWlWV 9HUVRUJXQJVXQWHU QHKPHQV XQG GLH $QJDEHQ GLHVHU ,QVWDOOD WLRQVDQZHLVXQJ VLQG JHQDX ]X EHDFKWHQ 6723 %HVFKlGLJWH *ODV
'DV (LQEDX *ODVNHUDPLNNRFKIHOG GDUI QXU PLW HLQHP (LQEDXKHUG 5HFKDXG 6FKDOWNDVWHQ RGHU HLQHU HOHNWURQLVFKHQ 6WHXHUXQJ GHV SDVVHQGHQ $QVFKOXVV 6\VWHPV $GDSWHUNDEHO NRPELQLHUW ZHUGHQ %HL 9HUZHQGXQJ DQGHUHU (LQEDXKHUGH 5HFKDXG 6FKDOWNlVWHQ RGHU HOHNWURQLVFKHQ 6WHXHUXQJHQ ZLUG GLH HUWHLOWH 3UI]HLFKHQ *HQHKPLJXQJ XQJOWLJ XQG MHJOLFKH +DIWXQJ GXUFK GHQ +HUVWHOOHU DXVJHVFKORV VHQ (LQEDX *ODVNHUDPLNNRFKIHOGHU ZHUGHQ EOLFKHU ZHLVH EHU HLQHP (LQEDXKHUG 5HFKDXG 6FKDOWND VWHQ RGHU HOHNWURQL
(LQEDX 'HU +HUVWHOOHU GHV *ODVNHUDPLN .
%HJUHQ]XQJ GLHVHU 5DXP %UHLWH PP +|KH PP DE 8QWHUVHLWH GHV .RFKIHOGHV 7LHIH PP YRQ KLQWHQ EHL HLQHU 7LVFKWLHIH YRQ PP %UHQQEDUH :lQGH XQG 'HFNHQ PVVHQ REHUKDOE GHU .RFKIOl FKHQ JHPlVV GHP IU GDV EHWUHIIHQGH .
*DUDQWLHEHGLQJXQJHQ )U GLHVHV *HUlW OHLVWHQ ZLU ]XVlW]OLFK ]X GHU JHVHW] OLFKHQ *HZlKUOHLVWXQJ GHV +lQGOHUV DXV .
3/= 2UW )LUPD 7HOHIRQ 7HOHID[ 'UHVGHQ $(* +DXVJHUlWH *PE+ :HUNVNXQGHQGLHQVW ,QGXVWULHJHOlQGH : +DUWPDQQ 6WU $(* +DXVJHUlWH *PE+ :HUNVNXQGHQGLHQVW :DOWHU .
3/= 2UW )LUPD 7HOHIRQ 7HOHID[ .REOHQ] ) - *HUPDQQ 6UHYLFH 3DUWQHU 5KHLQVWUDH +DUWZLJ 3LWWKDQ *PE+ 6HUYLFH 3DUWQHU 6DQGVWUDH $(* +DXVJHUlWH *PE+ :HUNVNXQGHQGLHQVW 0DLQ]HU /DQGVWUDH (OHNWUR 5HLQHUW *PE+ 6HUYLFH 3DUWQHU /XGZLJVWUDH +DXVJHUlWH .XQGHQGLHQVW .
3/= 2UW )LUPD 7HOHIRQ 7HOHID[ +RI 3 *LHJROG *PE+ 6HUYLFH 3DUWQHU 3LQ]LJZHJ -UJHQ *|W] 6HUYLFH 3DUWQHU 9HUVEDFKHU 6WUDH D -HQV :DULD * E 5 6HUYLFH 3DUWQHU /LHENQHFKWVWUDH D :U]EXUJ (UIXUW :HLWHUH 6HUYLFH 6WHOOHQ VLQG 3/= 2UW 3/= 2UW .LHNHEXVFK *UR .
-XQR +DXVJHUlWH *PE+ -XQRVWUDH ' +HUERUQ