• Nenhum resultado encontrado

Proposta de critérios mínimos a serem observados em parecer de investimentos : avaliando a governança de entidades fechadas de previdência complementar

N/A
N/A
Protected

Academic year: 2022

Share "Proposta de critérios mínimos a serem observados em parecer de investimentos : avaliando a governança de entidades fechadas de previdência complementar"

Copied!
32
0
0

Texto

(1)

123456738985856973912

9898585239832376929338985557853939 5 96952853!23972"5375963937

#67857 5393$95%569832925365&24573527 '

' ' ' ' ' '

()*+*',*-./0123'4/5)20' '

' ' ' '

678689:;'(<'=7>:<7>89'4?@>489';'9<7<4'8A9<7B;(89'<4'6;7<=<7' (<'>@B<9:>4<@:89C';B;D>;@(8';',8B<7@;@E;'(<'<@:>(;(<9'

F<=G;(;9'(<'67<B>(<@=>;'=846D<4<@:;7' ' H

' ' '

69739 IJKL

(2)

2345678947247 647764674767

4444686847 467 57!6"477#

44747$7!466%6&

577'(477#

4474727467!%672757)*74 577+67,7#

44!74)7-6647

6447 757!5%67.8%6647#./7966765709657

444186 47#7

/2747%/63567/396874676

4474723456762757

/474"47447%7'(477#%/63567/3964"//5

44478&&46

/474"477#54/63567/396664

4424!676"47847

/474"477#54/63567/396(84

(3)

01232526789819

!"

#$

%&8'89(2)*269+,2)*+&2-.&/1320 81&6/8)282018&/826/2)*13618

*26/4'1./+8&181)858+9)8)) 62622187.)2161/&87,2*26/8'191)8))8 861&1)8))9&8:918222&;+11/2<

269+,2)2+&2)11891=87,22

&8)2 516861&2 >6/126/2 2'/67,2)2&/1?18)2)2+&2@

A&16/8)2&B

C&2?@02+/2&.'1289)D+98&&2*2/8

E16(8)1;+18B*26/8'191)8)&8)2 516861&2

F&8B5168678

9&8:918705

GHIJ

(4)

23456789

45525262236469663333 2 56526 6375 39 23 659396

!64"39396659#4534276263$9 2%&&'()8*+,-.

/*.0.

(12(345(6.971(3892:7'((41

(8;24%7<2%7(33(1=>&(27<7174= (222'()847(260%?<92(%2!%( 5191.

'8(6.

,.(4(0(1*.!722</.5191

5.90(19124@%41A8317(2!%7222 6%983291(<8418221<2)1%B8%2 (222'().55.)17.

499=

(5)

01232526789819

!"

#$

%&8'89(2)*269+,2)*+&2-.&/1320 )16)1)282&28)262028&/836/2)

*14618*26/5'1./+8&181)868+9)8) )72623188.)3161/&87,2*26/8'191)8) )8961&1)8)):&8;918232&<+11/2=

269+,2)2+&22'/67,2)&/1118)2 )721891/83&8)2616861&2

>6/136/28 82&28)2 298 3+16/

231,2?83168)2&8@

A&21B02+/2&.'1389)C+:8&&2*2/8 D&16/8)2&

028&/836/2)*14618*26/5'1./+8&181 961&1)8):&8;918-96:0

A&21EB02+/2&8F&19G6)

028&/836/2)*14618*26/5'1./+8&181 961&1)8):&8;918-96:0

:&8;918-0608HI)3812)JIKLB

(6)

012034567489

! " #$! %

$ & '()*+,-./,.

01,2345.,.60714894-.0.:1474230.8;0.:,1<4.-</0.1,42<=4/0.8,>.?<842<=4/0@

# A B ! C DCE %

(7)

012345

7999999999

9999 99

!99"#$%&'9("#%')99 9*+&,9%&'9(%-"./')0 1$9%209'99)/93909 '99(/30') *9"#%'99$9!99

#9456789:;%<9999 )999*9 99=7"#%')99999=7#9999 9999'999"9 94993"

#$%&'9(43-4%%;4>299)9<9 9?@'9$9?@A9;4299 99)9999 B8:C 9 >9>99!D6:"9999 999)*!)>9<9 99DE:499& 9 9*DF:"999DG:"99 999>D=:"999) 999*99)9999** H9;

IJKJLMJNOPQJLRS09'99;#9%9;/9;

TU2V0TWV

?$9$X9X!9999Y$$$ $9$999$999 9 9X'9%9#5"#$%&'9("#%':) 999X?$,9+9'9X%9 5%-"./':)3%'99090)3!/9'99 09(Z/30'[\] 99'9%9#9#94^_]

;?9<$$999 X)Y999999=7#) Y$$9$=7Y$999 9$

`abcd]Zef`_fghdadf]i_jajk_jhlf[]lmcajcd]no]43-4%%;4$X9)Y cpclqjcd]jrc]eflrma`^_]sc_j]a`d]tqhAuqadmadf^_]sc_jv?$X9Y$$ $)Y$$Y9YB8:C999 9Y$$9D6:%99999$ ) $)9$!$$9w9DE:

499X9X9999DF:"$9 999DG:"9999X9XD=:

"$99X9w9 99)$9 9 9X;

xRyz{M|NS'9909;'9%9#;/;

(8)

0134567897

!"#$%&

'()*+,-,./01.23-,-/0,.045.6+,7)2+-089:;<.:.)*-50=(148>0/?909;.5-,95-/0,.0;<-)90=/>0,.0

@.).AB2+9/C029)/*+*DB,-/0)-0A95:-0,.0/92+.,-,.02+6+<09D0-0AD),-E?9C0.0/.:0A+)/0<D25-*+69/C0 ./*5D*D5-,-0)-0A95:-0,90-5*+F90GHC0,-0I.+089:;<.:.)*-50)J0KLMC0,.0NM0,.0:-+90,.0NLLKC0OD.0

*.)3-0;9509@P.*909;.5-50;<-)90,.0@.).AB2+90QRSTUVWXRVSYVRZ[QR\T[WV[]^_0

#`aa aabcdaa a&aa daaeafagbh `aij abcdaaa&gaaaaaa baaaaabcda& akaa aaca c da abali&aaaa a akaam aag an co&p&dad&af

gaikaaaaa a&qp ajgaa baa aaoag aaa g abaa aaaifr

`li&c aaa&oa apajaaaa a & o apaa&l&phd&

a&agaaapa bagc aa aaabk aa af

goa a calsatapajali a &a aabalsa& a & afr aapajaaa`lsa&bqg ac pl&ah&mgbl a f

aaa&abqauaaab nga aiaja d alg abaaa#a`qa kli a vwbhaaac agc aajalkli a aika aaaaaaaaaf

0107xyz{|}~z€‚

ragaajalg abaapa bli jkli a #

`q !#`f

01ƒ7xyz{|}~„…†z‡ˆ‰|‡~

Š‹Œ#a`qa !#`a& ba a#ada a Žaalia

#a`qa Ž"Ž‘

Š‹agaaaaaaa#`a‘

(9)

0234565784 8 4338 8 783458 36558 8858 38 3 788

03858433 3 748 3 33 58483

0848448 3 745 45 !"5! 8437343 #3488 848 8 43858$ 3

! 5#35!34! 3 3$%

&'()*+*)*,-./0(1*2).-3(

&'4(5678987(1:9;<9=(;6()86><?6@A=(B8(CD(.;E8FG<D8;G=(

848 3#5 7!45!3 8 45758 85#583 3 !8 583 3788 3 43#5H758 !3!384I3 3454 4374 848543 88!3 8 3 336"75 8 3#3 438584 5#35!3 7! 8 834H758 J 8 "578 5#3456578 46K5848 I3 3L8! !558 457%

M8 43858$ 33 5#35!3483 843 3 3$ 3!

473 3 437$8N53 3 87!88!33#58!33 4!858 3L8 473 3N 3745 4 !35 3 4!85# 534 I3 $ 45 575 3 8858 7! 643IH758% M33 4!85# 3O53 8 373583 3 !85638$ 8 N438 7578 P 457 L4"57 #3488 3 5#35!3 P 4 !35 3 8437343 438K45 I3 3L8! 7883 3 8O5584 343 3 K4$ 38N45 8 !88 3 375$ 3 ! 5#35!3I3 33L8 3 43858%

83 43884 I3 788 5#35!3 43858 4 !8 5 8 845784583 3 373583 3 8N53 4334!588 N438 7578 3L8$ 4I3

! 5#35!343858 3! 845758$ 5438 37358 3 ! 8437343 #3488 I3

! 5#35!3 4 !35 3 3H43 8! ! 3L8 373N45% 88 78 !34373 !8 8N53 337"6578 3 !5758 848 8 !88 3 375$%

! 83 8 437!38Q3 438588 3 K4$ 3 657858$ 743 3 4858Q3 3!33 3 3$ I3 54335J #3488 74485#8 "#3 8#8584 I3 3#3 34 8858 3 !3758 8 43858$ 3 ! 843734 3

#3488 !!33! I3 8 54N 438584! 5#35!3% (

&'&(R<FG8D6(578E<B8;9<S7<=(T76F<>8<7=(8(*;G<B6B8(+89U6B6(B8(578E<BV;9<6(-=DW>8D8;G67(

X 53!8 3 43#5H758 Y485 838 3! Z[ \5] 483 4^ 43#5H758 N578I3 57848734"578 7!K458 3 4358 38 3 8 43#5H758 7!3!384 I3 5#558 3! 43#5H758 7!3!384 8348 3 63788 3 8 45!3548 34!558 8 3 I8I34 758$ I3 3! L35# 3 54384 3! !8 43#5H758% _N 8 63788 43458 343733 8 ! 4 337"657 I8 !33 8457583 33 4 43#58!33 3655 3! 54384\Y`aX 38%[ZZb]%

c 43#5H758 7!3!384 63788 8! ! 3!588 4 P 583 3788 3 43#5H758 !3!384% 8 3583 H! 8 434485#8 3 8!55484 838 ! 8 !85 3 ! 8 3 336"75 8 ! 3 343! 847588 4 !8 4858$3583 75383 4!853 ! 8475843 8 38 58$

7848734588 4!8 3583 !5847588%

(10)

0124567891716715551127574512578570 5521454578915717776710 !"!#1 5275 45$715455277255! 1#15551%715714714755 765&716715591142145715555'()16715551152 541671555151*+167151489157*0+11671 21'

+571411256491576' !!,#1671555151-1671.51 551-715617475457255517178917176)411524571 52754754765115761455427114/42672752)7'06715 1489157-74754&711211761471489111579151 1151176141551152715511445154)7176147267112 7571485'()167121-728911167125171727'

012757018913554765"455765891.5477745$7 617652574' ! 14525545$7477774754&711454574)54 126525745147&71514275677.7112747171452554765 45$71765176715757171891545547.5747721 411147715725545671146512652574'768"455#'

77535177545$70126525741472171275 7850126525745"!55"!47275 452715 !!"'07565525171 14567-5594527214:7515277142789151787561147&1 0 !";#'

+5714112785012652574"!47789117154)59547121 125155671478917167545$7126525746741145745 5417477754567756745547655542747452215 5478751<21=754757747612775557.5747527 6.5&16$755.641167155515142716775577575 545$71265257476&747575545$712652574541554 154551747557116715551768 !!"#'

>?@ABCDEFGHGIHAJCFKCFHLMDHA

N1547870141477-1211121752457915471.7674751 45671725171575156114514757576&71475755 141655147745N0#'214776747-1215)71218911/491 57)417575.5$217565591547141654774$7 55162515747752425111251730'

7N15478701414775251775&27214:777)65527 0127171-12567.59157771427574789112-115 4774$7678915142785525471427176124567891O575 77677'571459177&55277475414275752457514274575 4571.574558755951777175471277555 71125611455455717471167147145.717471717 )417+521478537547545141'

(11)

02345678798586588382538738572388658935 37836257555288538368833857363557365883 5855643!"#!$%

8268758368856685234567879858&33853 375'38375'3(5568435(65368)5485738*85737885 368+36833365)53(653687526885&38380,0%0(65368 )548&33853(65366557553(6536578335538 37+365886856-85+36855583393588(653685735 4855)588+36853393%

00,03582335!"#./85/345678798838 5668-785234567879855'365687386833678825755 23456787983375'3(5568433375'3858(65368)548%052738 0,03375'3(556843&3162355568935)836578938 5733335278+)8933335435568&2887893%43375'38

&16235+889385733333543+886825385785 573889375575758688488652868763657387368756785 5)56783525733735573%0(65368)548&8685688333 162358768938573333628935557'86884855 836338736842575565655855853375'3(556843%(5 +3685868725753286583788352785881623586358363 38528955425758&53868554556528%

(583633865355786#"78!""#856683628783788&

33853375'3(556843375'385(65368)54857353 375'3556843&31623)3856683333673)35 56357333+7935+7683-825685876893857853 375'38&3162353763575673857853333673)3863 56358(65368)548&316235876893857853383673 )35563,006!""#$

053933375'35/5386542783557869/7:#;5

"#53635!""<5855567-365268568523456787982535 3763575673856535648358%=386268+3!306%#:873682565 883935878523456787988685+76865895557653162358638 38687583863783657365+367553655633 5765368865756588%

>65357888&879351235&8537858428938 388865658378856557333335432868763657358 7368%0&3&657-45835278&78884855557'88 8688538535531623352834388&685653788558 35)8555353588695568%?633733 368756883787368&853337+3575655554556565 87883528358568938388@23456787983636848%

(5+368866333543585535316235863'86543 558368935583868873854565456886955551623 339368935&673587835333375'3(5568433576 836875678584853376357567385+36875575758&8 37688935836875575758(537689553753735573%

(12)

0123567789868655536778516858817879 36658188718671918387861857673777716838 86851656578587 78765875871875!"687 831#8$783767$81"656763875 5#895657 36777677 667% #88#368377167978! 57 835#&7$776716758 363873857835#&7 ! 5731687687771' 86865553677858 168!8665()5685*((+

0781 #8588718,868-681.,-/012*95*357385

*((29567&78756647516#8587 7876587587187 53667587175670-9*((28-839776383889 65070559 717786#858#83816756789678' 37 0(

5!686865551675678' 676#85" 18718738616687 1776!658787738755!6%561938387#8567 36763875:865575587687"!68;:598!83%7787 6<

=>?@ABCDAB>BEFGHIHJKLBMNB@O@GPLIBNBQEPL?NIBRLSHPHT?HLIBUPEIIHVHUEMLIBWLIBINXRNW@LIBMNB YZ[\]^_`a]^Z^\Z^YZ[\]^b]Y`cbZde^fZg^higi^]^jYZkl]mni^\Z^o]Y][l`]k^Zg^`[bZkl`gZ[lik^

\Z^pqre^\ZbZ^kZY^jYZhZ\`\]^\Z^][cd`kZ^\Z^Y`khis^tuZ\]mni^\]\]^jZd]^uZkidvmni^[w^ xsyz{e^\Z^|}~x~|€s^

‚^€w^ƒ^][cd`kZ^\Z^Y`khi^\ZbZ^kZY^]jYib]\]^jiY^„Yoni^\Z^oibZY[][m]^higjZlZ[lZ^[]k^

cYZ]k^\Z^`[bZkl`gZ[li^Z^\Z^Y`khi^\]^r…q†e^ji\Z[\i^hi[k`\ZY]Ye^\Z[lYZ^ivlYik^

hY`l‡Y`ike^]^ij`[`ni^Zg`l`\]^jiY^]oˆ[h`]^\Z^hd]kk`_`h]mni^\Z^Y`khi^\Z^hY‡\`li^

?NXHI@?EMEBLGB?NULW‰NUHMEBŠNPEB‹LRHIIKLBMNBŒEPL?NIBLSHPHT?HLIABŽNMEJKLB=MEMEB jZd]^uZkidvmni^[w^zs|}e^\Z^x€~€~‘D’C“B”s•

0657835#&7587995–070559!86877"1164 3

!6 836—3658761758#88675798!83 5387587 6<

6 ()<6 6—3658387617598#886

8<18#8683735–6*()(896*()*89070556*()˜89796*()(89 ,-6*((2870:™6*(()8š

š

›œšžŸ ¡¢Ÿ£¤¥¦§Ÿ¨š¤¥š©ª«¬­š®ž¯°©¬­š±ªž±®®š

²:,³

050²0´µ³ 9:²µ³:³:

³-¶·²0¸²0

²0-:50¹-0

(13)

002234567839625565624662545636 0905436323 !"32#56#36766226

$%56$32&54623526643'56323422323(62 )65*66652783562(43)56766655632)62655)546783 26234345624333+53)54545662834326783365,5332 6326'55*67836626456-090 !"./0356616265562 5456523676433656(333232622326453632632 545652283226&532283645366262655624325662433362&5462 43)33(636253

463 !3678362362&546236766632283226&5326 56789:;<=>?789@7;79689A;BC689D8=7=E=<;>689F789GH:I9

I6J8DKL69MDK>ND;7=>O69 I6J8DKL69H>8?7K9 M>;D=6;>79GPD?E=>O79 QRS)55783466332253

3254%5326326 *3 6 26 654655652256783 332324363632 263225732T

QR'632625322332 4332 532 52432 65356 433 3 3536332632 6783 66 566783 4367U235632 43325567833252432 55)54632T

QR6+634333 3763 6363 3 323S5653T

QR036783 3 6+63 261543 433 3 35363 63536 S5356'456666 566783 67U2 2615462T

QRV3664345362 567U252662662 3323S5653 S5356'456T

QR26453362 342232 34532 )365243)35643 6255*2676623 323S5653T

QR6+63 3 34223 242225332432532 32 32 6 S5356 '456T

QR0436633663 32653252 6535656T

QR)37363254%532

6 433

26453)362 353636 262452U2632283 65632T

QR036783 62 3%5462

55*2T QRW5)546783345362

3567U2652T QR465635254363 323S56535246 6253245652(

3232263232 632325253223 62 5222 52262 66565243352432 36246&6 25T

QRS)55783 6 3%546 67835453232 32 6 S5356 '456T

QR'632664243&52

2652T 26783 63 323 S5653633235246 625)367U2422&562(

)3235456623'4%453 262434562T

QRS)55783 62 62 6

S5356'4566656783QR0456783 6 3326

'4783 376&56 3X66783 366 43%3645363

(14)

01235678923262136133828876913235

131962891 131932 9681692892 !"#$%& '()*)+%, -! )%!%

!%#+.%(/!#.%/+!"0/#./12%

/13"/(/)%#.(%0) .%&

)%! #+)/12%)%!"/(.+)+"/#.

/+.+%4 5(/5/0+/%

/6 ./%"(+%+)/!#.&

789"(%5/12% / .( . (/

%(:/#+;/)+%#/0)%!:(:/12%

< #13 )(*.+)/

./-0)+!#.% !/=%0*.+)/

>.2%=%/&

78?%#+.%(/!#.%//(@#)+/%

#%(!/.+5%+#.(#%A"(B.+)/

/CD=E,"(+#)+"/0!#./

=%0*.+)/F#5.+!#.%&

?/# .#12% !/)%! #+)/12%

+#.(#/ )/.+5/)%!%

)%0/-%(/%(, - )/#%

!%.+5/12%,)%!"(%!.+!#.%

#:/6/!#.%"/(/%/0)/#)%

%-6.+5%.(/.G:+)%&

78F#.+<+)/12%, /5/0+/12%

!%#+.%(/!#.% % (+)%

.(/.G:+)%&

78?%#+.%(/!#.%%(+)%"%(

!+%+#+)/%(H I+5 0:/12% .!".+5/

+#<%(!/13(05/#.,/0G!/

%-(+:/.J(+/ "%( 0+ % (: 0/!#.%, !%#.(/#%

)0/(;/ .(/#"/(@#)+/,

%-(5/#% % :(/ )%#<+#)+/0+/, - )/#%

05/(%#*50)%#<+/#1/%

"/(.+)+"/#./+.+%&

789: (/12%/+#.+<+)/12%,

!+.+:/12%!%#+.%(/!#.%%

(+)%"0/I+(.%(+/C') .+5/, )%!(0/12%/%+.!/

)%#.(%0+#.(#%&

K@0% <.+5+/ /%

) !"(+!#.% % )J+:%

)%# ./G.+)/!/+

)J+:%"%0*.+)/&

789"%+%/+!"0/#./12%/13 (0/)+%#//A .#./-+0+/&

I<+#+12%//.(+- +13,5(

("%#/-+0+/)//)/(:%

% #*5+/0/(+/+&

78L5+2%"(+J+)//"(B.+)/

:%5(#/#1//CD=EH =(%!%12%/)/"/)+./12%,%

#5%05+!#.%/)%#./#.

/. /0+;/12% % )%0/-%(/%(

5+/#%/.#(%%-6.+5%/

CD=E-///! /.(/.G:+/ #:J)+%H

D%#.M> +/N%/=(B.+)/!>%5(#/#1/E%("%(/.+5//9NL9==,/:%.%OPQRH

S> +/./!-G!/-%(// #.%(0/)+%#/%A("%#/-+0+/)+5+0,/!+#+.(/.+5/

"#/0%+(+:#.,%"(+#)*"+%/. /12%%J(:2%./. .B(+%,)%#<0+.%+#.(

<%(!/0+;/12%//.+5+/% .(%/:#.:%5(#/#1/,5+.%4 %.(@!#)+%#/%#%

T /(%PQ</;!"/(.%"(+#)+"/+/:#.:%5(#/#1/HD/;!"/(.%% .(%/:#.

:%5(#/#1/%)%!+.@/%(/!#.%,/ +.%(+/+#.(#/'.(#/,UVWXYZ[\U], .( . (/#%(!/.+5/,4 #:0%-/"%0*.+)/,#%(!/+#.(#/"(%)%^% "(%)+!#.%H _/"/(.:.2%(+)%,2%!#)+%#/%%!%0%"(%"(+.B(+%(+)%,)%!-/#%

/(.HQ`/L%0 12%%E%#0$%?%#.B(+%_/)+%#/0aE?_#b`HcdO,Oe.!-(% OPPd,+#.+<+)/12%,/5/0+/12%,)%#.(%0!%#+.%(/!#.%%(+)%,)%#.(%0+#.(#%

% 5+%(+/H

C!/:%.%OPQP,/=LCfFE" -0+)% % > +/?0$%(=(B.+)/!D #%

=#2%,!4 .5)%!%%-6.+5%/%(+#./12%+(+:#.,"/(.+)+"/#.,

(15)

01234567184396726268439949368439843474986390962492484784 899744497844926446109362995139593047249095654819614 8103968 756154099721395!181"#$%&'()(*

+943116909565199293489'()'1#$%&06549,6189 -9!4393.265189,49371710131$726818995!181893968 75614099721374 149395986392369.6510131112668189899097!181091$/492640 03401134547!95697249048993106518401315472366354449264 9219956840919726818954924965697298401236176484013265601729"#$%&

'()'*

24,61417248939549781401319!43903.2651486686849 493717171$547624896729399949371712317013 75619547651454 40132656017299012345671843989936856.36458648954782190265154092 75619 2396719724895479!9634986369729034594954723499248936542935963614 90392184398993645479!46518972394234308644975647184 036750649396624764013119143148458648954782190265189939 9975616845479!9634984863697299395497814943944893953481$

$!489'()(4&5,6&7262245316963489,49371714304312610654 986481-9!4393.265189,4937171430431261/&5,014317614 242197294218101311034448149371715430431261745316940367560119729 903449103.2651986549439417247401781849'78974934 89)889167262642944926489933993 756194937171547236678401311 94481431761497498639096242317013 75619390471668189"&5, '()(*

/5864086686849(:"96*317893049784403696345441431 89672348414172497564717840426518967649915438449784863909624 14479!4893867623149741784248441724216544641236649 5404646818903147;934899340109845479!9634985145472671814 29359634118192474997494391564719724544.364586489547821 397931484924398972394234/13243049756471118624361678909789729 4672443945479!465194;2644395478219547624896729399"&5, '()(*

429364397299'()946065181174198648486489-9!439 3.265189,493717143043126126651840949434013139509314954716519 9!431547271841697298979564108412489992.51819169 968 7561139047166818984197298949371718617298986934291 97564718441979168961167219864926144894319926181 9331972189493717154454714103.2651"&5,'()9*

/54772489395497814981#$%&35#39&5,9958649 610466621311914314841834('9(<74110132638196231917.6984 8459724093626153614895129436195129436126618101311716131 513152932651894937171543043126171$745316351294361951294361 91913171036756016395497814986042174=1834('196399954 86047666131395497814995489248441972989493717196931 013298495404842311!4

=1834('>-1236651541036756016395497814981#$%&35#39&5,

(16)

012341567893 0 0

0

!"#$

%&#'(#) *("'+,(

-#.+ ' *("'+,(

&'+#/'#0(1

2 2 2 2

&#0+345(6

7"89".# 2 2 2 2 +/(45(:';'+<#( 2 2 2 2

=:#(# >"'" "

"#::' 2 2 2 2

?0#:(#6 *"+ :'

*($"#.45( 2 2 2 2

':#:8 ##345(

:'*("@+#(:'>"''' 2 2 2 2 :.45(*("#": 2 2 2 2

A'5(:';#.( 2 2 2 2

-("'BC;D>*%EFGF1)C;D>*%EFGE1)=H;=CC%EFGI1'>HA*%EFGF1J

=.'3(#'0#$:'/'8:'"($#"(38(K''"3+(//.'3(#) '$K'@(#0'#@#.:$'"45(:/.'3(#"('((.#+:(-":(:'C'"5() '":($:(:(.$'"('$K'(L#(8('$.'(M#"@($45(JC.:

.'3(#)@($#:'"#@#.:FN%K(1/.'3(#)(+#O":(EF%0#"'1/.'3(# 8"L+#''$.:-C*J

=8#$'#.'3(#):'"($#":PQRSTUVWXYWSUZYR[\[]\^)'$((/_'#0(:'0+# ($'#(:'`!+#(8(8':-C*"(K':#O'8'#(M3(0'""48(.$8#$'"( :''(/_'#0(:'"(:'"#::'J=/.'3(#K''0'$:'8(#(M.'3(#5(B :'.#45(:(8#".#8#3'"':'3(0'""4%*("'+,(&'+#/'#0()&#'(#`'.#0'

*("'+,(-#.+1)$'"45(M(0#:(#)'@'9".#M:#(##"'"'$'"45(M:#(#

#":'8'":'"'):'.L'(/#3<#(J

a:(FbBC(8(:'K:(8..'#O3(0'""4.(8(#0:-C*

7c1d3ef7 ghi27c1d3ef7 01j1ek52f7l

m35(:' A(0'""4

&'.#45(:(8#".#8#3'"':'3(0'""4 =H;=CC%EFGI1 '"45(M(0#:(# >HA*%EFGF1

;'@'9".#M:#(##"'" C;D>*%EFGE1 '"45(M:#(##":'8'":'"' >HA*%EFGF1

*8.#45(:(

:##3'"'

;'K##(8#"0'#:"(.3( C;D>*%EFGE1 C(3$:'.8.#45('6('#"$'"( C;D>*%EFGE1

*($8'9".##/!:(:##3'"' C;D>*%EFGE1

$#5(:''+<#(:'.("(+'#"'"(8'+(*("'+,(-#.+ C;D>*%EFGE1

*("@+#(:' `#9".#:'$':#:8$##345(:'.("@+#(:'#"''' >HA*%EFGn1

(17)

01234355353

7893411 31809783018435 052!1"03#435283"8125 3188"$0783%20"33"812 &'&(

)35283405"85

3188#48"3558373431"031283405"85 318#34080"03188102843128 334!1"0**433405"85135242484710+"081 3185374378320985#84#183,313-"085 .8123/0483,848#4204543"831351&'&3')2

&"23784031834567689:6;6<4=6>?@87@A874B4CD5=DAE8=D38@8@FGD=4H@87D86H6I46B868

#435313305#84#4235.#4908"#"038543#43531212353 3 34"34552090353507152&55,"237840535"8J05848543K050285 352,33"085#40193520418"4781#48743"#"0283L824301312851

"8#32!1"05K358240,-5850407312353305583432$40853"812483501234185

#84#42388153J8.05"12318390528,407284033#38422M3588 )1NO13382,483P2

Q8<6=DC@B4689:@5RI4=@87D845=DBDAADA8D8C@HDB565>6E8FSA<@S893400"45305K35 .,5"#43902485"81028530123435535K3#8553 052041,3"885305

#4704K18031200"851%2415#4!1"0K3"815202085#401"0#05 8,T3209857893411"84#842092&55,"23784058409005312433 052!1"03 305#4020783"8102830123435535131809783018435 432$4085105138152435011"30451#43"343585$4785378934111432$4085 3"8124835012341853,8485#388153J8.05"31243824513 052!1"03#43528 3"812531248.33188"$0783%20"33"812118K3933524 243828552090353 34"05#3850407312352

U@B8R43V868<6=DC@B4689WDA=?@87D8X4A<@AE8R6I68A@FBD8@8;B@<DAA@87D8CDBD5<463D5=@87D8 405"851551280280#84212331"0818212818)03K128183 1,3"88318453,845#388153J88132*408Y"08118153J83 )35284390!1"08#3312431243824852Z810284312885405"85352* 0432312343"0818"852090353 34"05#840432841"8153J30481 01052484843#435312123312483312032&55,"237840584553701235/

3188#48"3558373431"031283405"851318#34080"0388102843128 85405"8514334!1"0*433405"85135242484710+"0811905280#842[1"08 55128143"831\533 052!1"03*4335#3"-0"#4"8124833908 133185374378320985#84#183,313-"085190528K38

#240]1083"#183,313-"08573408#3.393234010335201

^10"33 "509#4535#420"0#12352

_`abcdefeghijbklmndoidnjbpngeqoilerijbsbtiundlelvebwidxidemoueb

."83&935y430+4#35K0543"0817893411"84#84209 15."8,531543"831352.80430+#35K0535"40209

"8%2881#438011233123K02209813K3852418#48,,0-520"05285( .#848433#8423"82,5331893,483(1#420484K098 7D5@34567@8z:@5A@I4767@{A=6=|A=4<@}8D34=47@8;DI68&'&31531232Z284

(18)

01203456859536180081883883803804503181853953888 608681538

858906853850858983388105086558088 615001560538951 8505093048888100510!5"0815 0510385#$68045383680%80453801555805&68 '()0*0+5303806150015015&68'()0*0+53038 0&50318189838855385900185898338088 0380103018159838,38"58558500-5+380-6.68385

51856.0600238030181881006804538040188905 953009059509835158"0815051038503010100 41/188653051638608905028001#$$6804538"530685 1838"1558"23"4358680453893001086530818153838608 9068308 8850953/189838862838158935380158 951 8588380380450318185395388856635

689068308 8895375830088#$129"5388+500555:050383 505693015;04850001838648501538<089380 45031818539538885308 856081801501538<05308 30=18758"30=185900183"0&50318185395388

>90685308 8801%018060558 88150850*18

&0380609560010305003?15>9068150003?1556150 015080560159830@036638045031818"3080358168"051385 510"045051680,800450450318185395388"56053= 930359830538308 8851683003010858150#$1%

A046150655308 85"0605388550555:050 0383864850560153085185858615"560:8"45031818 539538853!5"5308 8888985060513560903655135150 85508590553635858188590586530183860890835 1853051538003588035"508505851868953020=18 045031818"08938045031818150501500188053883885 931986635815385

BCDEFGHIJKLIMNGODLINGJGPQRKHGOD

9350015055045308 85100388+503855808 9068308 88953850>08#$139"0605818888450318185395388 1858018305018<08'()>46868045385386 88 560589085388+586308 85"8,00350850510385 1550108305018<08'()"558,8305018<08>'>0 )&

STUVUWXYZ[VT\T]V^_Y`YTUV^TaV`YbTYbTcdefgbT`h_Viba^Y`YbTiVTY^jWklVT`hiV_kiY`VT mfVibVXk`Y`VTcbaYanbakoVpT`kbUVikqkXkrY`VTiVTUV^aYXT`YTSbbVokYZ[VT`YbTciak`Y`hbTd0+880 30=185900183s>'>"15903550566350#$13"01500590355 830010951 851595388>5850658"8959685,5958 UV^TtuuTcdefgbvTaVaYXkrYi`VTYU^Vwk_Y`Y_hiahTxyTz{|vtT_kX}~hbTh_Tkil001515 90355818858>'>"#$139

(19)

02345634789997875373745427373494378789 978474448797389877774887555427892738727 84744478999555772447992797734895442877 95557749 4873898474448399799!9278957877 4"

0#8429895953$75345 989924783%499 279589473&973947899399254'7955579738474448797 95479953(427"77738989753339399554'48898753 '93442797874'95495787536277573)*+,8757589 4'954957877"

73487795557724488&97732795877 872957354389943948442495974598-./78953 45 9895789279%492758727748879555427 84744487901-07327587795557895488984744487 7459"7348+259 734387537598757589 2259 734"03958775487279!9278957877 473 8975387783739959%4987887473877399254'7 9329548939399554'4889"

759347395939!9278%498988783998259 734 894487955577244878789977442877495958972$33 59539!45#2489849394 44254'9539259 7348953789259 734 79328259 73489448743948759598973938"4674 394877495954683872777954'789'9344239!45#248984939 4 44254'9539259 73495797495958972$33723748954423 4 4427249539259 734"

89:;<=>?@ABC:<:DEFG@=<:;<:;D;C=:

: 05837H8975373958775487%49878873259 734 IJKLMNOPQRPLNSRKTUTVUWXPYPZNOO[SR\PSRK]^]_UKP`aRPRT`aUTbNPUOPOac_UbRLNK]UOPdXdPRPdXeP 954'935759593995999 3894734399254'959399587 932958939989+,92f,259 734+"*9+"g54'934!7932954 8972733#245987f,9+f,399254'959"

5837HhPOac_UbRLNK]UOPUOON_]UQUOPiP_UbRLNK]UPIJKLMNOPQRPLNSRKTUTVUWP

=jklmnopqrsm: ;otlrsuvq:wm:=jklmnopqrsm: x: D: xy:

z25+"+ {923478734244 95989 7'93 +, z25+"* |9737'48734 g f} f, z25+"g -993#2438457344593 2 f+ +f, z25+"H |97384573448998959 f} g 2f, 759~887894

9 98~€5548898927259 73439950€5548898927259 734 95,6932958927259 73439959"

0489'8792748937739587754879897538775837H 74945%49493924878877394787495958972$32777954'789 '93442339989849394 44254'953954889893998 259 734753"05837f3995739587874959394879879

(20)

0234567879030779738673779088393306308904474787908 379633008400088067308707800673000860883879 78606786739309083933930300087370777360 87023456787907097983709!7783933930300"#

$0%&'()*+,-./012,(',((0+2,3,('4'+,-./012,'561/70('3.'/08.19,9:,;'

<= >=?@=ABCDEFG= HI= JKLGKMKCNGCKF=

O "PQ% RRR

S967T080478380

U7790TVW9X77870Y78Z[UW[0873707

\8T78308806730837602009$0 RRR]39330630"#

^7973860702345678790377360096002703_04S07 78`a"bc3703_08796786777900400740787 8067308\8786086786739300377908796708806730879608 0673087203083986060077^7867$7d209d 437367867776027e788098798609708067309 4883706097760867867740074078088067308 4009792006730

\$0O79860878608009f387088067308777967e +,-./012,'5g,h,+2-,:70'30('3212/.9-.(;i'j('()*+,-7308a"7a047879600770967 47796074787909878606688303808kSld86797860Qa#7"#

78476307967mf088067308aa7aP87970806730aan0 779060960lokpqd096qr[04787964779607047908a#

8730806730aP4779607#7478790

$0OT80673080883008e+,-./012,'5g,h,+2-,:70'30('3212/.9-.(;'

JstCFu@LBEKF= v@wCEKxyB=?F=JstCFu@LBEKF= z= {= z|=

]06a" o738368400397863090 %% % Qa#

]06aa l0070403607}67390796 " %Q a#

]06a d476~930883379678 O "#

]06aP k388770653847d9872S380 " Pa # S967T080478380

U7790TlW$0963077kSld808067304787967ZW$0963077kSld80806730 087967Zl#l779607kSld808067304787967

\87860804787960847$0O0633_08400077^7867

$7d2094007330047879073779088393306308908478790808 ()*+,-./012,('+09-23,('9,'+,-./012,'5g,h,+2-,:70'30('3212/.9-.(;i'l00006730 5g,h,+2-,:70'30('3212/.9-.(;€'-,*‚'ƒ02'1.„.2-,3,','…2h†-.(.'9)‡,€'(.930'8.12ƒ2+,30'ˆ).' 7386737790883933063087967088067308

$0bT80673080883008e+,-./012,'5g,h,+2-,:70'30('3212/.9-.(;'

<= >=?@=ABCDEFG= HI= JKLGKMKCNGCKF=

O "%Pb RRR

S967T080478380

U7790TVW9X77870Y78Z[UW[0873707

\8T78308806730837602009$0% RRR]39330630"#

Referências

Documentos relacionados

O objetivo desse estudo é apresentar relatos e reflexões a respeito da importância da educação física como conteúdo curricular na educação infantil e das

O motivo de cobrança “2.6 – Permanência por mudança de procedimento” é aplicável também aos procedimentos de quimioterapia, sendo que a mudança de procedimentos de

O presente artigo, fruto da tese de doutorado em andamento, discute, com base na análise das obras mais significativas de Diplomática publicadas entre os séculos XVII e XX, o

Entretanto, sua forma mais utilizada ´e a de terceiro grau, ou seja, a C´ ubica de B´ ezier , que ´e definida por quatro pontos de controle, tais pontos s˜ao: 2

Mme Curie consagrou-se como uma das mais importantes personalidades da ciência, devido a sua coragem e audácia, vencendo todos os contratempos e revelando novas

CARACTERÍSTICAS: elétron, de carga negativa, em órbita em torno de um núcleo central, de carga positiva. Apenas certos valores dos raios das órbitas e das energias do elétron

Detectadas as baixas condições socioeconômicas e sanitárias do Município de Cuité, bem como a carência de informação por parte da população de como prevenir

Apesar da longa distância dos grandes centros urbanos do país, Bonito destaca- se, regionalmente, como uma área promissora dentro do Estado de Mato Grosso do Sul. Bonito,