














Prepara tus exámenes y mejora tus resultados gracias a la gran cantidad de recursos disponibles en Docsity
Gana puntos ayudando a otros estudiantes o consíguelos activando un Plan Premium
Prepara tus exámenes
Prepara tus exámenes y mejora tus resultados gracias a la gran cantidad de recursos disponibles en Docsity
Prepara tus exámenes con los documentos que comparten otros estudiantes como tú en Docsity
Encuentra los documentos específicos para los exámenes de tu universidad
Estudia con lecciones y exámenes resueltos basados en los programas académicos de las mejores universidades
Responde a preguntas de exámenes reales y pon a prueba tu preparación
Consigue puntos base para descargar
Gana puntos ayudando a otros estudiantes o consíguelos activando un Plan Premium
Comunidad
Pide ayuda a la comunidad y resuelve tus dudas de estudio
Ebooks gratuitos
Descarga nuestras guías gratuitas sobre técnicas de estudio, métodos para controlar la ansiedad y consejos para la tesis preparadas por los tutores de Docsity
Asignatura: INTERNACIONAL PRIVADO, Profesor: ana fernandez, Carrera: Derecho, Universidad: UAH
Tipo: Ejercicios
1 / 22
Esta página no es visible en la vista previa
¡No te pierdas las partes importantes!















QRPEUH \ UHSUHVHQWDFLyQ GH FRQ GRPLFLOLR HQ 3R]XHORGH$ODUFyQVHJ~QDFUHGLWRPHGLDQWHHVFULWXUD GHSRGHUEDVWDQWHSDUDSOHLWRVTXHVHDFRPSDxDDOSUHVHQWHHVFULWRSDUDVXLQVHUFLyQHQ DXWRV SRU FRSLD FRQ UXHJR GH GHYROXFLyQ GHO RULJLQDO 'RFXPHQWR Q FRPSDUH]FR DQWHHO-X]JDGR\FRPRPHMRUSURFHGDHQ'HUHFKR',*2
Que mediante el presente escrito interpongo DEMANDADA DE DIVORCIO contenciosa contra FX\D~OWLPDGLUHFFLyQFRQRFLGDHV 300 Toronto Ontario y solicito la GUARDA Y CUSTODIA de la menor a su madre y la suspensión de la patria potestad a
.
/D GHPDQGD GH GLYRUFLR JXDUGD \ FXVWRGLD VH EDVD HQ ORV VLJXLHQWHV KHFKRV \ IXQGDPHQWRVGHGHUHFKR +(&+26 35,0(52 FRQWUDMHURQPDWULPRQLRFLYLOGHRFWXEUHGHHQHOFRQGDGRGH&ODUN/DV9HJDV 1HYDGDQRFRQVWDQGRLQVFULWRHQHO5HJLVWURFLYLOHVSDxRO 'RFXPHQWRQD\E 'HGLFKDXQLyQFRQ\XJDOQDFLyXQDKLMD HOGHVHSWLHPEUH GH 'RFXPHQWRQF 6(81'2* 1RH[LVWHQELHQHVHQFRP~QGHOPDWULPRQLR 7(5&(52 (O UpJLPHQ HFRQyPLFR GHO PDWULPRQLR HV HO GH VHSDUDFLyQ GH ELHQHV(ODUW&&HVWDEOHFHTXH³/RVHIHFWRVGHOPDWULPRQLRVHUHJLUiQSRUODOH\
SHUVRQDOFRP~QGHORVFyQ\XJHVDOWLHPSRGHFRQWUDHUORHQGHIHFWRGHHVWDOH\SRUOD OH\ SHUVRQDO R GH OD UHVLGHQFLD KDELWXDO GH FXDOTXLHUD GH HOORV HOHJLGD SRU DPERV HQ GRFXPHQWR DXWpQWLFR RWRUJDGR DQWHV GH OD FHOHEUDFLyQ GHO PDWULPRQLR D IDOWD GH HVWD HOHFFLyQ SRU OD OH\ GH OD UHVLGHQFLD KDELWXDO FRP~Q LQPHGLDWDPHQWH SRVWHULRU D OD FHOHEUDFLyQ \ D IDOWD GH GLFKD UHVLGHQFLD SRU OD GHO OXJDU GH FHOHEUDFLyQ GHO PDWULPRQLR´ (Q GHIHFWR GH OH\ QDFLRQDO FRP~Q GHELGR D TXH HO 6U HV HVWDGRXQLGHQVHQDFLGRHQHOHVWDGRGH1HEUDVND86$\OD6UD HVSDxROD\GH FDSLWXODFLRQHV PDWULPRQLDOHV VH GHEH DSOLFDU OD OH\ GH OD UHVLGHQFLD KDELWXDO FRP~Q LQPHGLDWDPHQWH SRVWHULRU D OD FHOHEUDFLyQ /RV FyQ\XJHV QDGD PiV FDVDUVH IXHURQ D UHVLGLUD 9DQFRXYHU&DQDGi GRQGHULJHHOUpJLPHQGHVHSDUDFLyQGHELHQHV &8$572 &XVWRGLD\UpJLPHQGHYLVLWDV (OPDWULPRQLRVHFHOHEUyHOGH RFWXEUHGHHQ/DV9HJDV1HYDGD7UDVODFHOHEUDFLyQORVFyQ\XJHVVHWUDVODGDURQ D YLYLU D 9DQFRXYHU &DQDGi (Q PDU]R GH ' VH WUDVODGy VROD D YLYLU D (VSDxD SRU PRWLYRV ODERUDOHV PDQWHQLHQGR ' VX UHVLGHQFLD HQ 9DQFRXYHU 'XUDQWH HVWH SHULRGR ' U VH TXHGD HPEDUD]DGD GH ' QDFLHQGR HO GH VHSWLHPEUHGHODPHQRU HQ(VSDxD7UDVHOQDFLPLHQWRGHODPHQRU' \ ' MXQWR FRQ OD KLMD FRP~Q VH WUDVODGDQ D YLYLU D 5HLQR 8QLGR \ WUHV PHVHV GHVSXpV HO PDWULPRQLR UHJUHVD D (VSDxD ' FRQVLJXH XQ WUDEDMR HQ (VSDxD GXUDQWHVHLVPHVHV(QDJRVWRGHVLQHPEDUJRFXDQGRODPHQRUQRWHQtDQLXQDxR GH HGDG ' VH WUDVODGD D YLYLU D 7RURQWR \ \D QR UHJUHVD ÒQLFDPHQWH UHDOL]D DOJXQDYLVLWDDVXKLMDHQ(VSDxDHQQDYLGDGHV\YHUDQRKDVWDGLFLHPEUHGH'HVGH HVD IHFKD OD PHQRU QR KD YXHOWR DYHU D VX SDGUH HQ SHUVRQD 3RU YLGHRFRQIHUHQFLD OD ~OWLPDYH]TXHORYLRIXHHQPDU]RGH/DQLxDQXQFDKDVDOLGRGH(VSDxD 48,172 6LWXDFLyQ HFRQyPLFD GHO PDWULPRQLR HVWD SDUWH GHVFRQRFH OD VLWXDFLyQHFRQyPLFDGH' QRWLHQHFRQRFLPLHQWRGHVXVDFWLYLGDGHVPHUFDQWLOHV QL SURIHVLRQDOHV ' SRU HO FRQWUDULR HV PDHVWUD GH LQJOpV LQWHULQD DFWXDOPHQWH GHVHPSOHDGD 'RFXPHQWRVQ\
GyODUHV FDQDGLHVHV (Q HVWD RFDVLyQ QR VH HVSHFLILFD HQ HXURV
HXURV
HXURV
HXURV
HXURV
HXURV
HXURV
HXURVÒOWLPDWUDQVIHUHQFLD
2&7$92 3RU WRGR OR DQWHULRU ODV PHGLGDV TXH GHEHQ DGRSWDUVH FRPR FRQVHFXHQFLDGHOSUHVHQWHSURFHGLPLHQWRGHJXDUGD\FXVWRGLDVRQODVVLJXLHQWHV /D JXDUGD\FXVWRGLDGHODKLMDFRP~QVHDSDUD' VXVSHQVLyQGHODSDWULDSRWHVWDGGH' SRUFHVHHQODVUHODFLRQHVSDWHUQRILOLDOHV SDUDGHURGHVFRQRFLGR\SRUDEDQGRQRGHODPHQRU (O UpJLPHQGHYLVLWDVFRPXQLFDFLyQ\HVWDQFLDGHODPHQRU DOUHVLGLU'RQ HQ &DQDGi \ QR WHQHU XQ SDUDGHUR FRQRFLGR GHEH TXHGDU VXVSHQGLGR (QFDVRGHTXHVHDQHFHVDULRUHVWDEOHFHUOR\GHELGRDODSHFXOLDUVLWXDFLyQ SUHVHQWDGD\DTXHODPHQRUSUiFWLFDPHQWHQRFRQRFHDVXSDGUHVHLQWHUHVD $ /DPLWDGGHORVSHULRGRVYDFDFLRQDOHVGHODPHQRU VLQSHUQRFWD HQ 1DYLGDG \6HPDQD6DQWD SDUDFX\RFyPSXWRVHWHQGUiQHQFXHQWDORVSHULRGRVTXHDVt OR VHDQ HQ HO OXJDU GHO GRPLFLOLR GH OD PHQRU \ FRQIRUPH DO DFXHUGR GH ORV SDGUHVGHFLGLHQGRHQVXGHIHFWR ODPDGUHHQORVDxRVLPSDUHV\HOSDGUHHQ
ORVSDUHV (OSDGUHWHQGUiGHUHFKRDUHFRJHU\UHLQWHJUDUDODPHQRUFDGDGtDVLQ SHUQRFWD GH OD PLWDG GHO SHULRGR YDFDFLRQDO GHVGH ODV KRUDV GH OD PDxDQD KDVWDODVGHODWDUGHHQHOGRPLFLOLRGHODPDGUH % 'XUDQWHHOSHULRGRGH YDFDFLRQHVGHYHUDQR HOSDGUHSRGUiWHQHUFRQVLJRD ODPHQRUXQDVHPDQDVLQSHUQRFWDGHOPHVGHMXOLRUHFRJLpQGRODWRGRVORVGtDV D ODV \ GHMiQGROD HQ HO GRPLFLOLR PDWHUQR D ODV KRUDV R ELHQ XQD VHPDQD VLQ SHUQRFWD GHO PHV GH DJRVWR UHFRJLpQGROD D ODV KRUDV \ UHLQWHJUiQGRODDODVKRUDVHQWHQGLpQGRVHTXHORVFRPSDUHFLHQWHVOOHJDUiQ DXQDFXHUGRHQFXDQWRDODVIHFKDVHQGHIHFWRGHOFXDO GHFLGLUiODPDGUHHQ ORVDxRVLPSDUHV\HOSDGUHHQORVSDUHV (OSDGUHUHFRJHUi\UHLQWHJUDUiDOD PHQRUGXUDQWHHOSHULRGRYDFDFLRQDOFRUUHVSRQGLHQWHHQODKRUDLQGLFDGD\HQ HOGRPLFLOLRHQTXHVHHQFXHQWUHODPDGUH & (OSUHVHQWHUpJLPHQGH FRPXQLFDFLRQHV\YLVLWDV VHHQWHQGHUiVLQSHUMXLFLR GHODDVLVWHQFLDGHODPHQRUDFDPSDPHQWRVFXUVRGHYHUDQRHWF ' (O SDGUHPDGUH SRGUi FRPXQLFDUVH SRU FXDOTXLHU PpWRGR WHOHPiWLFR WHOpIRQR FRUUHR HOHFWUyQLFR YLGHRFRQIHUHQFLD HWF R SRU FRUUHR FXDQGR OR HVWLPH FRQYHQLHQWH HQ KRUDV RSRUWXQDV DO QRUPDO \ FRWLGLDQR GHVDUUROOR GH OD YLGDGHORVPHQRUHV 8QD SHQVLyQ GH DOLPHQWRV SDUD OD PHQRU GH HXURV DO PHV SRU HO SURJHQLWRU QR FXVWRGLR TXH GHEHUi UHDOL]DUVH HQ HO VLJXLHQWH 1~PHUR GH FXHQWD GHO%DQFR%LOEDR9L]FD\D$UJHQWDULD %%9$ DQRPEUH GH HQWUHORVGtDV\GHFDGDPHV /RV DVWRVH[WUDRUGLQDULRV GHODPHQRUHQWHQGLHQGRFRPRWDOHVORVJDVWRV PpGLFRVTXLU~UJLFRVRIDUPDFpXWLFRVTXHQRHVWpQFXELHUWRVSRUODVHJXULGDGVRFLDOR 08)$&(ORVFXEULUiQDOFDGDSURJHQLWRU&XDOTXLHURWURJDVWRSRGUiDXWRUL]DUOR ' VLQQHFHVLGDGGHFRQVHQWLPLHQWRSRUHOSDGUH\GHEHUiVHUDERQDGRDO SRUDPERVSURJHQLWRUHV
DGPLQLVWUDWLYDV GHO (VWDGR FRQWUDWDQWH GH OD UHVLGHQFLD KDELWXDO GHO QLxR VRQ FRPSHWHQWHVSDUDDGRSWDUODVPHGLGDVSDUDODSURWHFFLyQGHVXSHUVRQDRGHVXVELHQHV
3RU ~OWLPR HQ PDWHULD GH DOLPHQWRV HO DUW GHO 5(*/$0(172 &( 1R '(/ &216(-2 GH GH GLFLHPEUH GH UHODWLYR D OD FRPSHWHQFLD OD OH\ DSOLFDEOH HO UHFRQRFLPLHQWR \ OD HMHFXFLyQ GH ODV UHVROXFLRQHV \ OD FRRSHUDFLyQ HQ PDWHULD GH REOLJDFLRQHV GH DOLPHQWRV HVWDEOHFH TXH G HO yUJDQR MXULVGLFFLRQDO FRPSHWHQWH HQ YLUWXG GH OD OH\ GHO IRUR SDUD FRQRFHU GH XQD DFFLyQ UHODWLYD D OD UHVSRQVDELOLGDGSDUHQWDOFXDQGRODGHPDQGDUHODWLYDDXQDREOLJDFLyQGHDOLPHQWRVVHD DFFHVRULD GH HVWD DFFLyQ VDOYR VL HVWD FRPSHWHQFLD VH EDVD ~QLFDPHQWH HQ OD QDFLRQDOLGDGGHXQDGHODVSDUWHV
$O UHVLGLU OD PHQRU HQ (VSDxD OD FRPSHWHQFLD UHVSHFWR GH OD JXDUGD \ FXVWRGLD HO UpJLPHQ GH YLVLWDV \ OD SHQVLyQ GH DOLPHQWRV FRUUHVSRQGH D ORV WULEXQDOHVHVSDxROHV
(V FRPSHWHQWH SDUD FRQRFHU GHO SURFHGLPLHQWR GH GLYRUFLR HO -X]JDGR GH 3ULPHUD ,QVWDQFLD GH 3R]XHOR GH $ODUFyQ DO TXH HQ WXUQR GH UHSDUWR FRUUHVSRQGD DO UHVLGLU ORV FyQ\XJHV HQ GLVWLQWRV SDUWLGRV MXGLFLDOHV HQ YLUWXG GH OR GLVSXHVWR HQ HO DUWtFXOR \ DUWtFXOR GH OD /H\ GH (QMXLFLDPLHQWR FLYLO HQ WDQWR TXH HQ GLFKD FLXGDG HV GRQGH UDGLFD HO ~OWLPR GRPLFLOLR GHO PDWULPRQLR /RV TXH QR WXYLHUHQ GRPLFLOLRQLUHVLGHQFLDILMRVSRGUiQVHUGHPDQGDGRVHQHOOXJDUHQTXHVHKDOOHQRHQHO GHVX~OWLPDUHVLGHQFLDDHOHFFLyQGHOGHPDQGDQWH\VLWDPSRFRSXGLHUHGHWHUPLQDUVH DVt OD FRPSHWHQFLD FRUUHVSRQGHUi pVWD DO WULEXQDO GHO GRPLFLOLR GHO DFWRU (O ~OWLPR GRPLFLOLRFRP~QGHOPDWULPRQLRIXHHQ3R]XHORGH$ODUFyQ
6(81'2 /(,7,0$&,Ï1** SRVHHQOHJLWLPDFLyQDFWLYD\SDVLYDSDUDHMHUFLWDUODDFFLyQSHUVRQDOGH GLYRUFLRPDWULPRQLDOSUHYLVWDHQHODUWGHO&yGLJR&LYLOSRUVHUFyQ\XJHVFRQIRUPH VHDFUHGLWDHQHOGRFXPHQWRQD\ETXHVHDFRPSDxDDODSUHVHQWHGHPDQGD
7(5&(52 352&(',0,(172 'DGR TXH OD SHWLFLyQ GH GLYRUFLR VH IRUPXODSRU' HOSURFHGLPLHQWRDVHJXLUHVHOTXHVHHVWDEOHFHHQHODUW GHOD/H\GH(QMXLFLDPLHQWRFLYLO\VHVXVWDQFLDUiSRUORVWUiPLWHVGHOMXLFLRYHUEDO
&8$572 5(35(6(17$&,Ï1 'H DFXHUGR FRQ HO DUW /H\ GH (QMXLFLDPLHQWR&LYLOHQORVSURFHGLPLHQWRVGHVHSDUDFLyQRGLYRUFLRODVSDUWHVDFWXDUiQ HQORVSURFHVRVDTXHVHUHILHUHHVWHWtWXORFRQDVLVWHQFLDGHDERJDGR\UHSUHVHQWDGDVSRU SURFXUDGRU
48,172 &2081,&$&,Ï1 $/ 5(,6752* &XDQGR SURFHGD HO 6HFUHWDULR MXGLFLDO DFRUGDUi TXH ODV VHQWHQFLDV \ GHPiV UHVROXFLRQHV GLFWDGDV HQ ORV SURFHGLPLHQWRV GH GLYRUFLR VH FRPXQLTXHQ GH RILFLR D ORV 5HJLVWURV &LYLOHV SDUD OD SUiFWLFDGHORVDVLHQWRVTXHFRUUHVSRQGDQ
0$7(5,$/(6 35,0(52 ',925&,2 'H DFXHUGR FRQ HO 5(*/$0(172 8( 1 '(/ &216(-2 GH GH GLFLHPEUH GH SRU HO TXH VH HVWDEOHFH XQD FRRSHUDFLyQ UHIRU]DGD HQ HO iPELWR GH OD OH\ DSOLFDEOH DO GLYRUFLR \ D OD VHSDUDFLyQ MXGLFLDO HQVX DUWtFXORHVWDEOHFHTXHOD/H\DSOLFDEOHDIDOWDGHHOHFFLyQSRUODVSDUWHV DO GLYRUFLR \ OD VHSDUDFLyQ MXGLFLDO HVWDUiQ VXMHWRV D OD OH\ GHO (VWDGR G DQWH FX\RV yUJDQRVMXULVGLFFLRQDOHVVHLQWHUSRQJDODGHPDQGD (VWRHVODOH\DSOLFDEOHDOSUHVHQWH GLYRUFLRHVODHVSDxRODSRUVHUHOOXJDUGHLQWHUSRVLFLyQGHODGHPDQGD 6RQDSOLFDEOHVSRUWDQWRORVDUWVDGHO&yGLJR&LYLO ³$UWtFXOR(OPDWULPRQLRVHGLVXHOYHVHDFXDOIXHUHODIRUPD\HOWLHPSRGHVX FHOHEUDFLyQSRUODPXHUWHRODGHFODUDFLyQGHIDOOHFLPLHQWRGHXQRGHORVFyQ\XJHV\ SRUHOGLYRUFLR $UWtFXOR6HGHFUHWDUiMXGLFLDOPHQWHHOGLYRUFLRFXDOTXLHUDTXHVHDODIRUPD GHFHOHEUDFLyQGHOPDWULPRQLRODSHWLFLyQGHXQRVRORGHORVFyQ\XJHVGHDPERVRGH
SDUDHOHILFD]FXPSOLPLHQWRGHOUpJLPHQGHJXDUGDHVWDEOHFLGRSURFXUDQGRQRVHSDUDUD ORVKHUPDQRV (QWRGRFDVRDQWHVGHDFRUGDUHOUpJLPHQGHJXDUGD\FXVWRGLDHO-XH]GHEHUi UHFDEDULQIRUPHGHO0LQLVWHULR)LVFDO\RtUDORVPHQRUHVTXHWHQJDQVXILFLHQWHMXLFLR FXDQGR VH HVWLPH QHFHVDULR GH RILFLR R D SHWLFLyQ GHO )LVFDO SDUWHV R PLHPEURV GHO (TXLSR 7pFQLFR -XGLFLDO R GHO SURSLR PHQRU YDORUDU ODV DOHJDFLRQHV GH ODV SDUWHV YHUWLGDVHQODFRPSDUHFHQFLD\ODSUXHEDSUDFWLFDGDHQHOOD\ODUHODFLyQTXHORVSDGUHV PDQWHQJDQ HQWUH Vt \ FRQ VXV KLMRV SDUD GHWHUPLQDU VX LGRQHLGDG FRQ HO UpJLPHQ GH JXDUGD (QHOSUHVHQWHFDVRHODEDQGRQR GH' DVXKLMDPHQRUGHVGHHODxR \VXUHVLGHQFLDHQ&DQDGiREOLJDDGDUOHODJXDUGD\FXVWRGLDGHODPHQRUD ' DVtFRPRDVXVSHQGHUODSDWULDSRWHVWDGGHOSDGUH 7(5&(52 $/,0(1726 (O 5(*/$0(172 &( 1R '(/ &216(-2 GH GH GLFLHPEUH GH UHODWLYR D OD FRPSHWHQFLD OD OH\ DSOLFDEOH HO UHFRQRFLPLHQWR \ OD HMHFXFLyQ GH ODV UHVROXFLRQHV \ OD FRRSHUDFLyQ HQ PDWHULD GH REOLJDFLRQHVGHDOLPHQWRVHVWDEOHFHHQVXDUW'HWHUPLQDFLyQGHODOH\DSOLFDEOH/D OH\DSOLFDEOHDODVREOLJDFLRQHVGHDOLPHQWRVVHGHWHUPLQDUiGHDFXHUGRFRQHO3URWRFROR GH /D +D\D GH GH QRYLHPEUH GH VREUH OD OH\ DSOLFDEOH D ODV REOLJDFLRQHV DOLPHQWLFLDV HQ OR VXFHVLYR ©HO 3URWRFROR GH /D +D\D GH ª (Q VX DUW 6H HVWDEOHFH TXH /DV REOLJDFLRQHV DOLPHQWLFLDV VH UHJLUiQ SRU OD OH\ GHO (VWDGR GH OD UHVLGHQFLDKDELWXDOGHODFUHHGRU <HOHVWDGRGHUHVLGHQFLDKDELWXDOGHODFUHHGRUGH DOLPHQWRV HQ HO SUHVHQWH DVXQWR HV (VSDxD \ SRU WDQWR VH DSOLFD HO &yGLJR &LYLO HVSDxRO $UWtFXOR&&6HHQWLHQGHSRUDOLPHQWRVWRGRORTXHHVLQGLVSHQVDEOHSDUDHO VXVWHQWRKDELWDFLyQYHVWLGR\DVLVWHQFLDPpGLFD /RV DOLPHQWRV FRPSUHQGHQ WDPELpQ OD HGXFDFLyQ H LQVWUXFFLyQ GHO DOLPHQWLVWD PLHQWUDVVHDPHQRUGHHGDG\DXQGHVSXpVFXDQGRQRKD\DWHUPLQDGRVXIRUPDFLyQSRU FDXVDTXHQROHVHDLPSXWDEOH
$UWtFXOR&& (O -XH] HQ WRGR FDVR GHWHUPLQDUi OD FRQWULEXFLyQ GH FDGD SURJHQLWRU SDUD VDWLVIDFHU ORV DOLPHQWRV \ DGRSWDUi ODV PHGLGDV FRQYHQLHQWHV SDUD DVHJXUDU OD HIHFWLYLGDG \ DFRPRGDFLyQ GH ODV SUHVWDFLRQHV D ODV FLUFXQVWDQFLDV HFRQyPLFDV \ QHFHVLGDGHVGHORVKLMRVHQFDGDPRPHQWR &8$572 5(*,0(1'(9,6,7$6 'HDFXHUGRFRQHODUWGHO&RQYHQLRGHGHRFWXEUHGH5HODWLYRDOD &RPSHWHQFLD OD /H\ $SOLFDEOH HO 5HFRQRFLPLHQWR OD (MHFXFLyQ\ OD &RRSHUDFLyQ HQ PDWHULD GH 5HVSRQVDELOLGDG 3DUHQWDO \ GH 0HGLGDV GH 3URWHFFLyQ GH ORV 1LxRV ³(O HMHUFLFLR GH OD UHVSRQVDELOLGDG SDUHQWDO VH ULJH SRU OD OH\ GHO (VWDGR GH OD UHVLGHQFLD KDELWXDOGHOQLxR´ /DOH\GHODUHVLGHQFLDKDELWXDOGHODPHQRUHVODHVSDxROD\SRU WDQWRHVGHDSOLFDFLyQHO&yGLJR&LYLOHVSDxRO $UWtFXOR && (O SURJHQLWRU TXH QR WHQJD FRQVLJR D ORV KLMRV PHQRUHV R LQFDSDFLWDGRV JR]DUi GHO GHUHFKR GH YLVLWDUORV FRPXQLFDU FRQ HOORV \ WHQHUORV HQ VX FRPSDxtD (O -XH] GHWHUPLQDUi HO WLHPSR PRGR \ OXJDU GHO HMHUFLFLR GH HVWH GHUHFKR TXHSRGUiOLPLWDURVXVSHQGHUVLVHGLHUHQJUDYHVFLUFXQVWDQFLDVTXHDVtORDFRQVHMHQR VHLQFXPSOLHUHQJUDYHRUHLWHUDGDPHQWHORVGHEHUHVLPSXHVWRVSRUODUHVROXFLyQMXGLFLDO $UWtFXOR & & 6L ORV SDGUHV YLYHQ VHSDUDGRV \ QR GHFLGLHUHQ GH FRP~Q DFXHUGRHOMXH]GHFLGLUiVLHPSUHHQEHQHILFLRGHORVKLMRVDOFXLGDGRGHTXpSURJHQLWRU TXHGDUiQORVKLMRVPHQRUHVGHHGDG(OMXH]RLUiDQWHVGHWRPDUHVWDPHGLGDDORVKLMRV TXHWXYLHUDQVXILFLHQWHMXLFLR\HQWRGRFDVRDORVTXHIXHUDQPD\RUHVGHGRFHDxRV $UWtFXOR & & /RV SURJHQLWRUHV DXQTXH QR HMHU]DQ OD SDWULD SRWHVWDG WLHQHQHOGHUHFKRGHUHODFLRQDUVHFRQVXVKLMRVPHQRUHVH[FHSWRFRQORVDGRSWDGRVSRU RWURRFRQIRUPHDORGLVSXHVWRHQUHVROXFLyQMXGLFLDO 3RUWRGRORH[SXHVWR
3R]XHORGH$ODUFyQ0DGULG
9HFLQRV
D 3R]XHOR GH $ODUFyQ0DGULG
E 3R]XHOR GH $ODUFyQ0DGULG
&XLGDGRUD
0DGULG '1, 683/,&2$/-8=$'2* VHWHQJDSRUKHFKDODDQWHULRUPDQLIHVWDFLyQ\SRU UHFLELGRHOSOHLWRDSUXHED 3RUVHUGHMXVWLFLDTXHSLGRHQHOOXJDU\IHFKDLQGLFDGRVDQWHULRUPHQWH 6(81'2 27526Ë ',2** 4XH VLJXLHQGR LQVWUXFFLRQHV GH PL PDQGDQWH HQ YLUWXGGHORSUHYLVWRHQHODUWGHO&&HQUHODFLyQFRQHODUWtFXOR\ GH OD /(& VLJXLHQWHV \ FRQFRUGDQWHV YHQJR DVLPLVPR SRU PHGLDFLyQ GHO SUHVHQWH D IRUPXODU '(0$1'$ '( 0(','$6 3529,6,21$/(6 FRQWUD ' HQ HO PDUFR GHO SURFHGLPLHQWR SULQFLSDO GH GLYRUFLR LJXDOPHQWH LQLFLDGR SRU HVWDSDUWH <WRGRHOORFRQEDVHHQORVVLJXLHQWHV
UHODWDGRVHQODGHPDQGDSULQFLSDODVtFRPRODGRFXPHQWDODSRUWDGD $ORVDQWHULRUHVKHFKRVVRQGHDSOLFDFLyQORVVLJXLHQWHV )81'$0(1726'('(5(&+2 , 1RVUHLWHUDPRVHQORV\DH[SXHVWRVFRQDQWHULRULGDG ,, $UWtFXORV\GHOD/(&\DUWtFXORGHO&& (QYLUWXGGHORH[SXHVWR 683/,&2$/-8=$'2* TXHWHQLHQGRSRUSUHVHQWDGRHVWHHVFULWRMXQWRFRQVXV FRSLDVVHVLUYDDGPLWLUORSDUDHQYLUWXGGHORSUHYLVWRHQHODUWtFXORGHO&& HQ UHODFLyQ FRQ HO DUWtFXOR \ GH OD /(& VLJXLHQWHV \ FRQFRUGDQWHV WHQJD SRU IRUPXODGD '(0$1'$ '( 0(','$6 3529,6,21$/(6 SDUD TXH HQ VX YLUWXG WUDPLWDQGR SLH]D VHSDUDGD GHO MXLFLR SULQFLSDO \ FRQYRFDQGR DO 0LQLVWHULR )LVFDO D OD FRPSDUHFHQFLD SUHYLVWD HQ HO DUW GH OD /(& VH DGRSWHQ FRQ FDUiFWHU GH SURYLVLRQDOHVODVVLJXLHQWHV /D JXDUGD\FXVWRGLDGHODKLMDFRP~QVHDSDUD' VXVSHQVLyQGHODSDWULDSRWHVWDGGH' SRUFHVHHQODVUHODFLRQHVSDWHUQRILOLDOHV SDUDGHURGHVFRQRFLGR\SRUDEDQGRQRGHODPHQRU (O UpJLPHQGHYLVLWDVFRPXQLFDFLyQ\HVWDQFLDGHODPHQRU DOUHVLGLU'RQ HQ &DQDGi \ QR WHQHU XQ SDUDGHUR FRQRFLGR GHEH TXHGDU
PpGLFRVTXLU~UJLFRVRIDUPDFpXWLFRVTXHQRHVWpQFXELHUWRVSRUODVHJXULGDGVRFLDOR 08)$&(ORVFXEULUiQDOFDGDSURJHQLWRU&XDOTXLHURWURJDVWRSRGUiDXWRUL]DUOR ' VLQQHFHVLGDGGHFRQVHQWLPLHQWRSRUHOSDGUH\GHEHUiVHUDERQDGRDO SRUDPERVSURJHQLWRUHV /D SURKLELFLyQ D OD PHQRU GH VDOLU GHO WHUULWRULR QDFLRQDO VLQ OD DXWRUL]DFLyQ GHODPDGUH' KDVWDTXHFXPSODDxRV 7(5&(5 27526Ë ',2* 4XH PHGLDQWH HO SUHVHQWH HVFULWR VROLFLWR OD QRWLILFDFLyQGHODSUHVHQWHGHPDQGDD' DWUDYpVGHOIRUPXODULRUHFRJLGRHQHO &RQYHQLR GH GH QRYLHPEUH GH VREUH OD 1RWLILFDFLyQ R 7UDVODGR HQ HO ([WUDQMHUR GH 'RFXPHQWRV -XGLFLDOHV \ ([WUDMXGLFLDOHV HQ 0DWHULD &LYLO R &RPHUFLDO \ODVROLFLWXGGHUDWLILFDFLyQGHODSUHVHQWHGHPDQGDGHGLYRUFLRPHGLDQWHHO &RQYHQLRGHGHPDU]RGHVREUHOD2EWHQFLyQGH3UXHEDVHQHO([WUDQMHUR HQ0DWHULD&LYLOR&RPHUFLDO FRQEDVHHQ 35,0(52127,),&$&,Ï1<75$6/$'2'('2&80(172 /D~OWLPDGLUHFFLyQFRQRFLGDGH' HV 7RURQWR2QWDULR06* &DQDGD 'HDFXHUGRFRQHO&RQYHQLRGH/D+D\DGHVREUHQRWLILFDFLRQHVSHUPLWH SUDFWLFDUODQRWLILFDFLyQSRUPHGLRGHDXWRULGDGHVFHQWUDOHV $UWtFXOR /DDXWRULGDGRHOIXQFLRQDULRPLQLVWHULDORMXGLFLDOFRPSHWHQWHVHJ~QODVOH\HVGHO(VWDGRGHRULJHQ GLULJLUiDOD$XWRULGDG&HQWUDOGHO(VWDGRUHTXHULGRXQDSHWLFLyQFRQIRUPHDOIRUPXODULRPRGHORDQH[RDO SUHVHQWH&RQYHQLRVLQTXHVHDQHFHVDULDODOHJDOL]DFLyQGHORVGRFXPHQWRVQLRWUDIRUPDOLGDGDQiORJD /DSHWLFLyQGHEHUiDFRPSDxDUVHGHOGRFXPHQWRMXGLFLDORGHVXFRSLDWRGRHQGREOHHMHPSODU
$UWtFXOR 6LOD$XWRULGDG&HQWUDOHVWLPDTXHODVGLVSRVLFLRQHVGHO&RQYHQLRQRKDQVLGRUHVSHWDGDVLQIRUPDUi LQPHGLDWDPHQWHDOUHTXLUHQWHSUHFLVDQGRVXVREMHFLRQHVFRQWUDODSHWLFLyQ $UWtFXOR /D$XWRULGDG&HQWUDOGHO(VWDGRUHTXHULGRSURFHGHUiXRUGHQDUiSURFHGHUDODQRWLILFDFLyQRWUDVODGR GHOGRFXPHQWR a) \D VHJ~Q ODV IRUPDV SUHVFULWDV SRU OD OHJLVODFLyQ GHO (VWDGR UHTXHULGR SDUD OD QRWLILFDFLyQ R WUDVODGRGHORVGRFXPHQWRVRWRUJDGRVHQHVWHSDtV\TXHVHGHVWLQHQDSHUVRQDVTXHVHHQFXHQWUHQHQVX WHUULWRULR b) \DVHJ~QODIRUPDSDUWLFXODUVROLFLWDGDSRUHOUHTXLUHQWHVLHPSUHTXHQRUHVXOWHLQFRPSDWLEOHFRQ ODOH\GHO(VWDGRUHTXHULGR 6DOYRHQHOFDVRSUHYLVWRHQHOSiUUDIRSULPHUROHWUD b) HOGRFXPHQWRSRGUiHQWUHJDUVHVLHPSUHDO GHVWLQDWDULRTXHORDFHSWHYROXQWDULDPHQWH 6LHOGRFXPHQWRGHEHVHUREMHWRGHQRWLILFDFLyQRWUDVODGRFRQIRUPHDOSiUUDIRSULPHUROD$XWRULGDG &HQWUDO SRGUi VROLFLWDU TXH HO GRFXPHQWR VHD UHGDFWDGR R WUDGXFLGR D OD OHQJXD R D XQD GH ODV OHQJXDV RILFLDOHVGHVXSDtV /DSDUWHGHODVROLFLWXGTXHFRQIRUPHDOIRUPXODULRPRGHORDQH[RDOSUHVHQWH&RQYHQLRFRQWLHQHORV HOHPHQWRVHVHQFLDOHVGHOGRFXPHQWRVHUHPLWLUiDOGHVWLQDWDULR $UWtFXOR /D $XWRULGDG &HQWUDO GH (VWDGR UHTXHULGR R FXDOTXLHU DXWRULGDG TXH VH KD\D GHVLJQDGR D HVWH ILQ H[SHGLUiXQFHUWLILFDGRFRQIRUPHDOIRUPXODULRPRGHORDQH[RDOSUHVHQWH&RQYHQLR (O FHUWLILFDGR GHVFULELUi HO FXPSOLPLHQWR GH OD SHWLFLyQ LQGLFDUi OD IRUPD HO OXJDU \ OD IHFKD GHO FXPSOLPLHQWRDVtFRPRODSHUVRQDDODTXHHOGRFXPHQWRKD\DVLGRHQWUHJDGR(QVXFDVRSUHFLVDUiHO KHFKRTXHKD\DLPSHGLGRHOFXPSOLPLHQWR (OUHTXLUHQWHSRGUiVROLFLWDUTXHHOFHUWLILFDGRTXHQRKD\DVLGRH[SHGLGRSRUOD$XWRULGDG&HQWUDOR SRUXQDDXWRULGDGMXGLFLDOVHDYLVDGDSRUXQDGHHVWDVDXWRULGDGHV (OFHUWLILFDGRVHGLULJLUiGLUHFWDPHQWHDOUHTXLUHQWH $UWtFXOR /DV PHQFLRQHV LPSUHVDV HQ HO IRUPXODULR PRGHOR DQH[R DO SUHVHQWH &RQYHQLR HVWDUiQ REOLJDWRULDPHQWH UHGDFWDGDV HQ OHQJXD IUDQFHVD R HQ OHQJXD LQJOHVD 3RGUiQ UHGDFWDUVH DGHPiV HQ OD OHQJXDRILFLDORHQXQDGHODVOHQJXDVRILFLDOHVGHO(VWDGRGHRULJHQ /RV HVSDFLRV HQ EODQFR FRUUHVSRQGLHQWHV D WDOHV PHQFLRQHV VH FXPSOLPHQWDUiQ HQ OD OHQJXD GHO (VWDGRUHTXHULGRHQOHQJXDIUDQFHVDRHQOHQJXDLQJOHVD $UWtFXOR /DV QRWLILFDFLRQHV R WUDVODGRV GH GRFXPHQWRV MXGLFLDOHV SURYHQLHQWHV GH XQ (VWDGR FRQWUDWDQWH QR SRGUiQGDUOXJDUDOSDJRRUHHPEROVRGHODVWDVDVRJDVWRVSRUORVVHUYLFLRVGHO(VWDGRUHTXHULGR (OUHTXLUHQWHHVWiREOLJDGRDSDJDURUHHPEROVDUORVJDVWRVRFDVLRQDGRVSRU a) ODLQWHUYHQFLyQGHXQIXQFLRQDULRMXGLFLDORPLQLVWHULDORGHXQDSHUVRQDFRPSHWHQWHVHJ~QODOH\ GHO(VWDGRGHGHVWLQR b) ODXWLOL]DFLyQGHXQDIRUPDSDUWLFXODU $UWtFXOR (OFXPSOLPLHQWRGHXQDSHWLFLyQGHQRWLILFDFLyQRWUDVODGRFRQIRUPHDODVGLVSRVLFLRQHVGHOSUHVHQWH &RQYHQLR SRGUi VHU UHKXVDGR ~QLFDPHQWH VL HO (VWDGR UHTXHULGR MX]JD TXH HVWH FXPSOLPLHQWR HV GH WDO QDWXUDOH]DTXHLPSOLFDXQDWHQWDGRDVXVREHUDQtDRDVXVHJXULGDG (O FXPSOLPLHQWR QR SRGUi UHKXVDUVH SRU HO VROR PRWLYR GH TXH HO (VWDGR UHTXHULGR UHLYLQGLTXH FRPSHWHQFLDMXGLFLDOH[FOXVLYDSDUDHOSURFHGLPLHQWRHQFXHVWLyQRGHTXHVX'HUHFKRLQWHUQRQRDGPLWD ODDFFLyQDTXHVHUHILHUDODSHWLFLyQ (QFDVRGHGHQHJDFLyQOD$XWRULGDG&HQWUDOLQIRUPDUiLQPHGLDWDPHQWHDOUHTXLUHQWHHLQGLFDUiORV PRWLYRV
6H GHEH DSOLFDU HO &RQYHQLR GH GH PDU]R GH VREUH OD 2EWHQFLyQ GH 3UXHEDV HQ HO ([WUDQMHUR HQ 0DWHULD &LYLO R &RPHUFLDO D WUDYpV GH DXWRULGDG FHQWUDO $UWtFXOR &DGD(VWDGRFRQWUDWDQWHGHVLJQDUiXQD$XWRULGDG&HQWUDOTXHHVWDUiHQFDUJDGDGHUHFLELUODVFDUWDV URJDWRULDVH[SHGLGDVSRUXQDDXWRULGDGMXGLFLDOGHRWUR(VWDGRFRQWUDWDQWH\GHUHPLWLUODVDODDXWRULGDG FRPSHWHQWH SDUD VX HMHFXFLyQ /D $XWRULGDG &HQWUDO HVWDUi RUJDQL]DGD VHJ~Q ODV PRGDOLGDGHV SUHFHSWXDGDVSRUHO(VWDGRUHTXHULGR /DVFDUWDVURJDWRULDVVHUHPLWLUiQDOD$XWRULGDG&HQWUDOGHO(VWDGRUHTXHULGRVLQLQWHUYHQFLyQGHRWUD DXWRULGDGGHGLFKR(VWDGR $UWtFXOR (QODFDUWDURJDWRULDFRQVWDUiQORVGDWRVVLJXLHQWHV D ODDXWRULGDGUHTXLUHQWH\DVHUSRVLEOHODDXWRULGDGUHTXHULGD E LGHQWLGDG\GLUHFFLyQGHODVSDUWHV\HQVXFDVRGHVXVUHSUHVHQWDQWHV F ODQDWXUDOH]D\REMHWRGHODGHPDQGDDVtFRPRXQDH[SRVLFLyQVXPDULDGHORVKHFKRV G ODVSUXHEDVTXHKD\DQGHREWHQHUVHRFXDOHVTXLHUDDFWXDFLRQHVMXGLFLDOHVTXHKD\DQGHUHDOL]DUVH &XDQGRSURFHGDHQODFDUWDURJDWRULDVHFRQVLJQDUiWDPELpQ H ORVQRPEUHV\GLUHFFLyQGHODVSHUVRQDVTXHKD\DQGHVHURtGDV I ODVSUHJXQWDVTXHKD\DQGHIRUPXODUVHDODVSHUVRQDVDTXLHQHVVHGHEDWRPDUGHFODUDFLyQRORV KHFKRVDFHUFDGHORVFXDOHVVHOHVGHEDRtU J ORVGRFXPHQWRVXRWURVREMHWRVTXHKD\DQGHH[DPLQDUVH K ODVROLFLWXGGHTXHODGHFODUDFLyQVHSUHVWDEDMRMXUDPHQWRRSRUDILUPDFLyQVROHPQHVLQMXUDPHQWR \FXDQGRSURFHGDODLQGLFDFLyQGHODIyUPXODTXHKD\DGHXWLOL]DUVH L ODVIRUPDVHVSHFLDOHVFX\DDSOLFDFLyQVHVROLFLWHFRQIRUPHDORGLVSXHVWRHQHODUWtFXOR $VLPLVPRHQODFDUWDURJDWRULDVHPHQFLRQDUiVLKXELHUHOXJDUDHOORODLQIRUPDFLyQQHFHVDULDSDUD ODDSOLFDFLyQGHODUWtFXOR 1RVHSRGUiH[LJLUOHJDOL]DFLyQDOJXQDQLRWUDIRUPDOLGDGDQiORJD $UWtFXOR /DFDUWDURJDWRULDGHEHUiHVWDUUHGDFWDGDHQODOHQJXDGHODDXWRULGDGUHTXHULGDRLUDFRPSDxDGDGH XQDWUDGXFFLyQDGLFKDOHQJXD 6LQ HPEDUJR FDGD (VWDGR FRQWUDWDQWH GHEHUi DFHSWDU OD FDUWD URJDWRULD UHGDFWDGD HQ IUDQFpV R HQ LQJOpVRTXHYD\DDFRPSDxDGDGHXQDWUDGXFFLyQDXQDGHHVWDVOHQJXDVVDOYRTXHKXELHUHIRUPXODGROD UHVHUYDDXWRUL]DGDHQHODUWtFXOR 7RGR (VWDGR FRQWUDWDQWH TXH WHQJD YDULDV OHQJXDV RILFLDOHV \ QR SXGLHUH SRU UD]RQHV GH 'HUHFKR LQWHUQRDFHSWDUODVFDUWDVURJDWRULDVHQXQDGHHVWDVOHQJXDVSDUDODWRWDOLGDGGHVXWHUULWRULRHVSHFLILFDUi PHGLDQWH XQD GHFODUDFLyQ OD OHQJXD HQ TXH OD FDUWD URJDWRULD GHED HVWDU UHGDFWDGD R WUDGXFLGD SDUD VX HMHFXFLyQHQODVSDUWHVHVSHFLILFDGDVGHVXWHUULWRULR(QFDVRGHLQFXPSOLPLHQWRVLQPRWLYRMXVWLILFDGR GH OD REOLJDFLyQ GHULYDGD GH HVWD GHFODUDFLyQ ORV JDVWRV GH WUDGXFFLyQ D OD OHQJXD H[LJLGD VHUiQ VXIUDJDGRVSRUHO(VWDGRUHTXLUHQWH 7RGR(VWDGRFRQWUDWDQWHPHGLDQWHXQDGHFODUDFLyQSRGUiHVSHFLILFDUODOHQJXDROHQJXDVHQODVTXH DSDUWH GH ODV SUHYLVWDV HQ ORV SiUUDIRV SUHFHGHQWHV SXHGH HQYLDUVH OD FDUWD URJDWRULD D VX $XWRULGDG &HQWUDO /DFRQIRUPLGDGGHWRGDWUDGXFFLyQTXHDFRPSDxHDXQDFDUWDURJDWRULDGHEHUiHVWDUFHUWLILFDGDSRU XQIXQFLRQDULRGLSORPiWLFRRFRQVXODURSRUXQWUDGXFWRUMXUDGRRSRUFXDOTXLHURWUDSHUVRQDDXWRUL]DGD DWDOHIHFWRHQXQRGHORVGRV(VWDGRV $UWtFXOR
6L OD $XWRULGDG FHQWUDO HVWLPDUH TXH QR VH KDQ FXPSOLGR ODV GLVSRVLFLRQHV GHO SUHVHQWH &RQYHQLR LQIRUPDUi LQPHGLDWDPHQWH GH HOOR D OD DXWRULGDG GHO (VWDGR UHTXLUHQWH TXH OH KD\D UHPLWLGR OD FDUWD URJDWRULD\SUHFLVDUiVXVREMHFLRQHVDOUHVSHFWR $UWtFXOR 6LODDXWRULGDGUHTXHULGDQRWXYLHUHFRPSHWHQFLDSDUDVXHMHFXFLyQODFDUWDURJDWRULDVHUHPLWLUiGH RILFLR\VLQGHPRUDDODDXWRULGDGMXGLFLDOFRPSHWHQWHGHOPLVPR(VWDGRVHJ~QODVQRUPDVHVWDEOHFLGDV SRUODOHJLVODFLyQGHpVWH $UWtFXOR 6L OD DXWRULGDG UHTXLUHQWH OR SLGLHUH VH OH LQIRUPDUi GH OD IHFKD \ OXJDU HQ TXH VH SURFHGHUi D OD DFWXDFLyQVROLFLWDGDDILQGHTXHODVSDUWHVLQWHUHVDGDV\HQVXFDVRVXVUHSUHVHQWDQWHVSXHGDQDVLVWLUDOD PLVPD (VWD LQIRUPDFLyQ VH UHPLWLUi GLUHFWDPHQWH D GLFKDV SDUWHV R D VXV UHSUHVHQWDQWHV FXDQGR OD DXWRULGDGUHTXLUHQWHDVtORSLGLHUH $UWtFXOR 7RGR (VWDGR FRQWUDWDQWH SRGUi GHFODUDU TXH D OD HMHFXFLyQ GH XQD FDUWD URJDWRULD SRGUiQ DVLVWLU PLHPEURVGHOSHUVRQDOMXGLFLDOGHODDXWRULGDGUHTXLUHQWHGHRWUR(VWDGRFRQWUDWDQWH(VWDPHGLGDSRGUi HVWDUVXMHWDDODSUHYLDDXWRUL]DFLyQGHODDXWRULGDGGHVLJQDGDSRUHO(VWDGRGHFODUDQWH $UWtFXOR /DDXWRULGDGMXGLFLDOTXHSURFHGDDODHMHFXFLyQGHXQDFDUWDURJDWRULDDSOLFDUiHQFXDQWRDODIRUPD ODVOH\HVGHVXSURSLRSDtV 6LQHPEDUJRVHDFFHGHUiDODVROLFLWXGGHODDXWRULGDGUHTXLUHQWHGHTXHVHDSOLTXHXQSURFHGLPLHQWR HVSHFLDOH[FHSWRVLHVWHSURFHGLPLHQWRHVLQFRPSDWLEOHFRQODOH\GHO(VWDGRUHTXHULGRRHVLPSRVLEOHVX DSOLFDFLyQGHELGRDODSUiFWLFDMXGLFLDOGHO(VWDGRUHTXHULGRRSRUVXVGLILFXOWDGHVSUiFWLFDV /DFDUWDURJDWRULDVHHMHFXWDUiFRQFDUiFWHUGHXUJHQFLD $UWtFXOR $OHMHFXWDUODFDUWDURJDWRULDODDXWRULGDGUHTXHULGDDSOLFDUiORVPHGLRVGHFRPSXOVLyQDSURSLDGRV SUHYLVWRV SRU VX OH\ LQWHUQD HQ ORV FDVRV \ HQ OD PLVPD PHGLGD HQ TXH HVWDUtD REOLJDGD D DSOLFDU SDUD HMHFXWDUXQH[KRUWRGHODVDXWRULGDGHVGHVXSURSLR(VWDGRRXQDSHWLFLyQIRUPXODGDDHVWHHIHFWRSRUXQD SDUWHLQWHUHVDGD $UWtFXOR /DHMHFXFLyQGHODFDUWDURJDWRULDVyORSRGUiGHQHJDUVHHQODPHGLGDHQTXH D HQHO(VWDGRUHTXHULGRODHMHFXFLyQQRFRUUHVSRQGLHUHDODVDWULEXFLRQHVGHO3RGHUMXGLFLDOR E HO(VWDGRUHTXHULGRHVWLPDUHTXHSRGUtDFDXVDUSHUMXLFLRDVXVREHUDQtDRVHJXULGDG 1RVHSRGUiGHQHJDUODHMHFXFLyQSRUHOVRORPRWLYRGHTXHODOH\GHO(VWDGRUHTXHULGRUHLYLQGLTXH XQDFRPSHWHQFLDMXGLFLDOH[FOXVLYDHQHODVXQWRGHTXHVHWUDWHRQRDGPLWDYtDVMXUtGLFDVTXHUHVSRQGDQ DOREMHWRGHODGHPDQGDSUHVHQWDGDDQWHODDXWRULGDGUHTXLUHQWH $UWtFXOR /DHMHFXFLyQGHODFDUWDURJDWRULDQRGDUiOXJDUDOUHHPEROVRGHWDVDVRJDVWRVGHFXDOTXLHUFODVH 6LQ HPEDUJR HO (VWDGR UHTXHULGR WLHQH GHUHFKR D H[LJLU GHO (VWDGR UHTXLUHQWH HO UHHPEROVR GH ORV KRQRUDULRV SDJDGRV D SHULWRV H LQWpUSUHWHV \ HO GH ORV JDVWRV TXH RFDVLRQH OD DSOLFDFLyQ GH XQ SURFHGLPLHQWR HVSHFLDO VROLFLWDGR SRU HO (VWDGR UHTXLUHQWH FRQIRUPH D OR GLVSXHVWR HQ HO SiUUDIR GHO DUWtFXOR /D DXWRULGDG UHTXHULGD FX\D OHJLVODFLyQ HVWDEOHFLHUH TXH VRQ ODV SDUWHV ODV TXH GHEHQ DSRUWDU ODV SUXHEDV \ QR SXGLHUH HMHFXWDU SRU Vt PLVPD OD FDUWD URJDWRULD SRGUi HQFDUJDU GH HOOR D XQD SHUVRQD KDELOLWDGD DO HIHFWR XQD YH] REWHQLGR HO FRQVHQWLPLHQWR GH OD DXWRULGDG UHTXLUHQWH $O VROLFLWDU HVWH FRQVHQWLPLHQWR OD DXWRULGDG UHTXHULGD LQGLFDUi HO LPSRUWH DSUR[LPDGR GH ORV JDVWRV TXH UHVXOWDUtDQ GH GLFKDLQWHUYHQFLyQ(OFRQVHQWLPLHQWRLPSOLFDUiSDUDODDXWRULGDGUHTXLUHQWHODREOLJDFLyQGHUHHPEROVDU GLFKRVJDVWRV6LQRVHSUHVWDHVWHFRQVHQWLPLHQWRODDXWRULGDGUHTXLUHQWHQRWHQGUiTXHVXIUDJDUORV