project on security analysis

8/16/2019 Project on Security Analysis

1/26

N Xtujy of Xdhurmty Nfnaysms nfj [ortioamo Enfn`dedft

"N XZTJ] OF XDHTRMZ] NFNA]XMX NFJ [ORZIOAMO

ENFN@DEDFZ."

Emfm [rocdht Rdport subemttdj mf pnrtmna iuaimaaedft oi tld rdqumrdedfts ior

tld nwnrj oi tld Jd`rdd oi

ENXZDR OI BTXMFDXX NJEMFMXZRNZMOF

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BNF@NAORD TFMYDRXMZ]

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Rd!#dr F$. %&%@HEJ'&(

Tfjdr tld `umjnfhd oi Er. @O)RMX*N

N#. [r$id$r

Rnsltrddyn Xmgslnfn Xnemtlm Zrust

R Y MFXZMZTZD OI ENFN@DEDFZ!"#$% &'tl ross% ('tl Enmf% )tl *Z+ ,aohg%

-nynfn`nr% ,nf`naord . /'; ;)#

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RYME [n`d >


2/26


JDHANRNZMOF B] ZLD XZTJDFZ

M, jdhanrd tlnt tlms procdht ms tld outhoed oi ey owf diiorts nfj tlnt mt lns fot bddf

subemttdj to nfy otldr Tfmvdrsmty or Mfstmtutd ior tld nwnrj oi nfy otldr Jd`rdd or

Jmpaoen or Hdrtmimhntd.

[anhd3 Bnf`naord Guenr Xwney

Jnd3 !"#$%#&$!' !%!(H)J$%*

RYME [n`d 2


3/26


HOFZDFZX

Z+ad [n`d Fo,

>. Mftrojuhtmof-• Mftrojuhtmof to sdhurmty nfnaysms

• bcdhtmvds

!

". #dsdnrhl $dtlojoao`y

• %memtntmof

&

'. (anf oi )fnaysms

• *ufjnedftna )fnaysms

• +dhlfmhna )fnaysms

!. *mfjmf`s, u``dstmofs, Hofhausmof >

A+- o. /d n;ad3>

[or.oa+o N3>

!, BLDA

&, Rda+nfhd dfdr`y

", Hroe2of (rdn8d-

[or.oa+o B3>

!, :M[RO

&, 4+f9na Xdda

HLN[ZDR !

Mfro9uh+of o Xdhur+y nfnay-+-3>

RYME [n`d 8


4/26


*or en/mf` propdr mfvdstedft mfvoavmf` botl rms/ nfj rdturf, tld mfvdstor lns to en/d stujy

oi tld natdrfntmvd nvdfuds oi tld mfvdstedft-tldmr rms/ nfj rdturf hlnrnhtdrmstmhs, nfj en/d n

propdr procdhtmof or d;pdhtntmof oi tld rms/ nfj rdturf oi tld natdrfntmvd mfvdstedfts ufjdr

hofsmjdrntmof. d lns to tufd tld d;pdhtntmofs to tlms prdidrdfhd oi tld rms/ nfj rdturf ior

en/mf` n propdr mfvdstedft hlomhd. +ld prohdss oi nfnaysmf` tld mfjmvmjuna sdhurmtmds nfj tld

enr/dt ns n wload nfj dstmentmf` tld rms/ nfj rdturf d;pdhtdj iroe dnhl oi tld mfvdstedfts

wmtl n vmdw to mjdftmiy ufjdrvnauds sdhurmtmds ior buymf` nfj ovdrvnauds sdhurmtmds ior sdaamf`

ms botl nf nrt nfj n shmdfhd tlnt ms wlnt hnaadj sdhurmty nfnaysms.

Xdhur+y3>

+ld sdhurmty lns mfhausmvd oi slnrds, shrmpts, bofjs, jdbdfturd stoh/ or nfy otldr enr/dtnbad

sdhurmtmds oi am/d fnturd mf or oi nfy jdbdfturds oi n hoepnfy or bojy horporntd, tld

`ovdrfedft nfj sdem `ovdrfedft bojy dth.

Mf tld strmht sdfsd oi tld worj, n sdhurmty ms nf mfstruedft oi proemssory fotd or n edtloj oi

borrowmf` or adfjmf` or n sourhd oi hoftrmbutmf` to tld iufjs fddj by n horporntd bojy or

fof-horporntd bojy, prmvntd sdhurmty ior d;nepad ms naso n sdhurmty ns mt ms n proemssory fotd

oi nf mfjmvmjuna or imre nfj `mvds rmsd to hanme of eofdy. 2ut suhl prmvntd sdhurmtmds oi

prmvntd hoepnfmds or proemssory fotds oi mfjmvmjunas, pnrtfdrslmp or imre to tld mftdft tlnt

tldmr enr/dtnbmamty ms poor or fma, nrd fot pnrt oi tld hnpmtna enr/dt nfj jo fot hofstmtutd pnrt

oi tld sdhurmty nfnaysms.

O;0dh+8d o. /d -u9y

+o stujy nfj ufjdrstnfj tld portioamo enfn`dedft hofhdpts

+o stujy nfj ufjdrstnfj tld sdhurmty nfnaysms hofhdpts.

+o sdadht nf optmeue portioamo.

HLN[ZDR &

Rd-dnrh/ ed/o9oao`y

Xdhof9nry 9nn3>

RYME [n`d :


5/26


Jntn hoaadhtdj iroe vnrmous 2oo/s, 8dwspnpdrs nfj Mftdrfdt.

Z/d en0or a+e+n+of- o. /d 2ro0dh nrd 3>

• Jdtnmadj stujy oi tld topmh wns fot possmbad jud to tld amemtdj sm:d oi tld procdht.• +ldrd wns n hofstrnmft wmtl rd`nrj to tmed naaohntdj ior tld rdsdnrhl stujy.

• +ld nvnmanbmamty oi mfiorentmof mf tld iore oi nffuna rdports 4 prmhd iauhtuntmofs oi

tld hoepnfmds wns n bm` hofstrnmft to tld stujy.

Nfnay-+- o. -dhur++d-3

dhurmty nfnaysms mf botl trnjmtmofna sdfsd nfj eojdrf sdfsd mfvoavds tld procdhtmof oi iuturd

jmvmjdfj or dfsurmf` iaows, iordhnst oi tld slnrd prmhd mf tld iuturd nfj dstmentmf` tld

mftrmfsmh vnaud oi n sdhurmty bnsdj of tld iordhnst oi dnrfmf`s or jmvmjdfj.

dhurmty nfnaysms mf trnjmtmofna sdfsd ms dssdftmnaay of nfnaysms oi tld iufjnedftna vnaud oi

slnrds nfj mts iordhnst ior tld iuturd tlrou`l tld hnahuantmof oi mts mftrmfsmh wortl oi slnrd.

$ojdrf sdhurmty nfnaysms rdamds of tld iufjnedftna nfnaysms oi tld sdhurmty, adnjmf` to mts

mftrmfsmh wortl nfj naso rmsd-rdturf nfnaysms jdpdfjmf` of tld vnrmnbmamty oi tld rdturfs,

hovnrmnfhd, snidty oi iufjs nfj tld procdhtmof oi tld iuturd rdturfs.

Mi tld sdhurmty nfnaysms bnsdj of iufjnedftna inhtors oi tld hoepnfy, tldf tld iordhnst oi tld

slnrd prmhd lns to tn/d mfto nhhouft mfdvmtnbay tld trdfjs nfj tld shdfnrmo mf tld dhofoey, mf

tld mfjustry to wlmhl tld hoepnfy bdaof`s nfj imfnaay tld strdf`tls nfj wdn/fdssds oi tld

hoepnfy mtsdai. Mts enfn`dedft, proeotdrs bnh/wnrj, imfnfhmna rdsuats, procdhtmof oi

d;pnfsmof, tdre panffmf` dth.

N22ronh/d- o Xdhur+y Nfnay-+-3>

*ufjnedftna )fnaysms +dhlfmhna )fnaysms

9iimhmdft $nr/dt ypotldsms

HLN[ZDR "


6/26


slnrd prmhd oi n hoepnfy ms jdtdremfdj by tld iufjnedftna inhtors niidhtmf` tld 9hofoey<

Mfjustry< Hoepnfy suhl ns 9nrfmf`s (dr lnrd, JM( rntmo, Hoepdtmtmof, $nr/dt lnrd,

=unamty oi $nfn`dedft dth. mt hnahuantds tld trud wortl oi tld slnrd bnsdj of mts prdsdft nfj

iuturd dnrfmf` hnpnhmty nfj hoepnrds mt wmtl tld hurrdft enr/dt prmhd to mjdftmiy tld ems-

prmhdj sdhurmtmds.

*ufjnedftna nfnaysms mfvoavds n tlrdd-stdp d;nemfntmof, wlmhl hnaas ior3

Tfjdrstnfjmf` oi tld enhro-dhofoemh dfvmrofedft nfj jdvdaopedfts.

)fnaysmf` tld prospdhts oi tld fjustry to wlmhl tld imre bdaof`s

)ssdssmf` tld procdhtdj pdriorenfhd oi tld hoepnfy

Zdh/f+hna nfnay-+-

+dhlfmhna nfnaysms mfvoavds n stujy oi enr/dt-`dfdrntdj jntn am/d prmhds nfj voaueds to

jdtdremfd tld iuturd jmrdhtmof oi prmhd eovdedft. +dhlfmhna nfnaysms nfnaysds mftdrfna enr/dt

jntn wmtl tld ldap oi hlnrts nfj `rnpls. ubshrmbmf` to tld 0hnstads mf tld nmr0 nppronhl, tldy

vmdw tld mfvdstedft `ned ns nf d;drhmsd mf nftmhmpntmf` tld bdlnvmour oi enr/dt pnrtmhmpnfts.

+ldy aoo/ nt hlnrts to ufjdrstnfj wlnt tld enr/dt pnrtmhmpnfts lnvd bddf jomf` nfj bdamdvd

tlnt tlms provmjds n bnsms ior prdjmhtmf` iuturd bdlnvmour.

Jd.+f++of3

7+ld tdhlfmhna nppronhl to mfvdstmf` ms dssdftmnaay n rdiadhtmof oi tld mjdn tlnt prmhds eovd mf

trdfjs wlmhl nrd jdtdremfdj by tld hlnf`mf` nttmtujds oi mfvdstors townrj n vnrmdty oi

dhofoemh, eofdtnry, poamtmhna nfj psyhloao`mhna iorhds. +ld nrt oi tdhlfmhna nfnaysms- ior mt ms

nf nrt - ms to mjdftmiy trdfj hlnf`ds nt nf dnray stn`d nfj to enmftnmf nf mfvdstedft posturd

uftma tld wdm`lt oi tld dvmjdfhd mfjmhntds tlnt tld trdfj lns bddf rdvdrsdj.7

H/nr+f` dh/f+=ud- +f dh/f+hna nfnay-+-3

+dhlfmhna nfnaysms usds n vnrmdty oi hlnrtmf` tdhlfm1uds. +ld eost popuanr ofds nrd3

+ld Jow +ldory,

2nr nfj amfd hlnrts,

+ld pomft nfj im`urd hlnrt,

+ld eovmf` nvdrn`ds amfd nfj

+ld rdantmvd strdf`tl amfd.

RYME [n`d 9


7/26


Z/d Jow Z/dory

7+ld enr/dt ms nawnys hofsmjdrdj ns lnvmf` tlrdd eovdedfts, naa òmf` nt tld sned

tmed. +ld imrst ms tld fnrrow eovdedft iroe jny to jny. +ld sdhofj ms tld slort swmf`,

ruffmf` iroe two wdd/s to n eoftl or eord5 tld tlmrj ms tld enmf eovdedft, hovdrmf` nt

adnst iour ydnrs mf mts jurntmof.

+ld Jow +ldory rdidrs to tlrdd eovdedfts ns3

Jnmay iauhtuntmofs tlnt nrd rnfjoe jny-to-jny wm`àds5

dhofjnry eovdedfts or horrdhtmofs tlnt eny anst ior n idw wdd/s to soed eoftls.

(rmenry trdfjs rdprdsdftmf` buaa nfj bdnr plnsds oi tld enr/dt.

[o+f nf9 .+ùrd h/nr3

f n pomft nfj imùrd hlnrt ofay sm`fmimhnft prmhd hlnf`ds nrd rdhorjdj. Mt damemfntds tld tmed

shnad nfj senaa hlnf`ds nfj hofjdfsds tld rdhorjmf` oi prmhd hlnf`ds.

)o8+f` n8drn`d nfnay-+-3

) eovmf` nvdrn`d ms hnahuantdj by tn/mf` mfto nhhouft tld eost rdhdft 0f0 obsdrvntmofs. +o

mjdftmiy trdfjs tdhlfmhna nfnaysms usd eovmf` nvdrn`ds nfnaysms.

Rdan+8d -rdf`/ nfnay-+-3

+ld rdantmvd strdf`tl nfnaysms ms bnsdj of tld nssueptmof tlnt tld prmhds oi soed sdhurmtmds

rmsd rnpmjay jurmf` tld buaa plnsd but inaa saoway jurmf` tld bdnr plnsd mf rdantmof to tld

enr/dt ns n wload. +dhlfmhna nfnaysts ednsurd rdantmvd strdf`tl mf jmiidrdft wnys. n smepad

nppronhl hnahuantds rntds oi rdturf nfj hanssmimds sdhurmtmds tlnt lnvd supdrmor lmstormhna

rdturfs ns lnvmf` rdantmvd strdf`tl. $ord hoeeofay, tdhlfmhna nfnaysts aoo/ nt hdrtnmf rntmos

to cuj`d wldtldr n sdhurmty or, ior tlnt enttdr, nf mfjustry lns rdantmvd strdf`tl.

Zdh/f+hna +f9+hnor-3

Mf njjmtmof to hlnrts, wlmhl iore tld enmfstny oi tdhlfmhna nfnaysms, tdhlfmhmnfs naso usd

hdrtnmf mfjmhntors to `nu`d tld ovdrnaa enr/dt smtuntmof. +ldy nrd3

2rdnjtl mfjmhntors

$nr/dt sdftmedft mfjmhntors

Brdn9/ +f9+hnor-3

>. +ld )jvnfhd-Jdhamfd amfd3

RYME [n`d 0


8/26


+ld njvnfhd jdhamfd amfd ms naso rdidrrdj ns tld brdnjtl oi tld enr/dt. Mts

ednsurdedft mfvoavds two stdps3

n6 Hnahuantd tld fuebdr oi fdt njvnfhds< jdhamfds of n jnmay bnsms.

b6 btnmf tld brdnjtl oi tld enr/dt by hueuantmf` jnmay fdt njvnfhds< jdhamfds.

". 8dw m`ls nfj %ows3

) suppadedftnry ednsurd to nhhoepnfy brdnjtl oi tld enr/dt ms tld lm`l-aow jmiidrdftmna or

mfjd;. +ld tldory ms tlnt nf d;pnfjmf` fuebdr oi stoh/s nttnmfmf` fdw lm`ls nfj n jwmfjamf`

fuebdr oi fdw aows wmaa `dfdrnaay nhhoepnfy n rnmsmf` enr/dt. +ld rdvdrsd loajs trud ior n

jdhamfmf` enr/dt.

Mf9u-ry nfnay-+-3>

+ld obcdhtmvd oi tlms nfnaysms ms to nssdss tld prospdhts oi vnrmous mfjustrmna `roupmf`s.

)jemttdjay, mt ms naeost mepossmbad to iordhnst d;nhtay wlmhl mfjustrmna `roupmf`s wmaa

npprdhmntd tld eost. ?dt hnrdiua nfnaysms hnf su``dst wlmhl mfjustrmds lnvd n brm`ltdr iuturd

tlnf otldrs nfj wlmhl mfjustrmds nrd pan`udj wmtl probades tlnt nrd am/day to pdrsmst ior n

wlmad.

Hofhdrfdj wmtl tld bnsmhs oi mfjustry nfnaysms, tlms sdhtmof ms jmvmjdj mfto tlrdd pnrts3

>. Mfjustry amid hyhad nfnaysms

". tujy oi tld struhturd nfj hlnrnhtdrmstmhs oi nf mfjustry

'. (roimt potdftmna oi mfjustrmds3 (ortdr eojda.

[+ofddr+f` -n`d3>

Jurmf` tlms stn`d, tld tdhlfoao`y nfj or tld projuht ms rdantmvday fdw. %urdj by proemsmf`

prospdhts, enfy dftrdprdfdurs dftdr tld imdaj. )s n rdsuat, tldrd ms /ddf, nfj oitdf hlnotmh,

hoepdtmtmof. fay n idw dftrnfts eny survmvd tlms stn`d.

Hoe2nfy nfnay-+-

Hoepnfy nfnaysms ms tld imfna stn`d oi tld iufjnedftna nfnaysms, wlmhl ms to bd jofd to jdhmjd

tld hoepnfy mf wlmhl tld mfvdstor slouaj mfvdst. +ld 9hofoey )fnaysms provmjds tld

mfvdstor n bronj outamfd oi tld prospdhts oi `rowtl mf tld dhofoey. +ld Mfjustry )fnaysms

ldaps tld mfvdstor to sdadht tld mfjustry mf wlmhl tld mfvdstedft wouaj bd rdwnrjmf .̀

Hoepnfy )fnaysms jdnas wmtl dstmentmof oi tld #ms/s nfj #dturfs nssohmntdj wmtl mfjmvmjunaslnrds.

RYME [n`d


9/26


[or.oa+o enfn`dedf

Hofhd2 o. [or.oa+o3

(ortioamo ms tld hoaadhtmof oi imfnfhmna or rdna nssdts suhl ns d1umty slnrds, jdbdfturds, bofjs,

trdnsury bmaas nfj propdrty dth. portioamo ms n hoebmfntmof oi nssdts or mt hofsmsts oi hoaadhtmof

oi sdhurmtmds. +ldsd loajmf`s nrd tld rdsuat oi mfjmvmjuna prdidrdfhds, jdhmsmofs oi tld loajdrs

rd`nrjmf` rms/, rdturf nfj n lost oi otldr hofsmjdrntmofs.

[or.oa+o enfn`dedf

)f mfvdstor hofsmjdrmf` mfvdstedft mf sdhurmtmds ms inhdj wmtl tld probade oi hloosmf`. iroe

neof` n anr`d fuebdr oi sdhurmtmds. ms hlomhd jdpdfjs upof tld rms/ rdturf hlnrnhtdrmstmhs oi

mfjmvmjuna sdhurmtmds. d wouaj nttdept to hloosd tld eost jdsmrnbad sdhurmtmds nfj am/d to

naaohntd lms iufjs ovdr lms `roup oi sdhurmtmds. )`nmf ld ms inhdj wmtl tld probade oi jdhmjmf`

wlmhl sdhurmtmds to loaj nfj low euhl to mfvdst mf dnhl.

+ld mfvdstor inhds nf mfimfmtd fuebdr oi possmbad portioamo or `roup oi sdhurmtmds. +ld rms/ nfj

rdturf hlnrnhtdrmstmhs oi portioamos jmiidr iroe tlosd oi mfjmvmjuna sdhurmtmds hoebmfmf` to

iore n portioamo. +ld mfvdstor trmds to hloosd tld optmena portioamo tn/mf` mfto hofsmjdrntmof

tld rms/-rdturf hlnrnhtdrmstmhs oi naa possmbad portioamos.

)s tld dhofoemh nfj imfnfhmna dfvmrofedft /ddps tld hlnf`mf` tld rms/ rdturf hlnrnhtdrmstmhs

oi mfjmvmjuna sdhurmtmds ns wdaa ns portioamo naso hlnf`d. )f mfvdstor mfvdsts lms iufjs mf n

portioamo d;pdhtmf` to `dt n `ooj rdturf wmtl adss rms/ to bdnr.

(ortioamo enfn`dedft hofhdrfs tld hofstruhtmof 4 enmftdfnfhd oi n hoaadhtmof oi

mfvdstedft. Mt ms mfvdstedft oi iufjs mf jmiidrdft sdhurmtmds mf wlmhl tld totna rms/ oi tld

(ortioamo ms emfmem:dj wlmad d;pdhtmf` en;meue rdturf iroe mt. Mt prmenrmay mfvoavds

rdjuhmf` rms/ rntldr tlnt mfhrdnsmf` rdturf. #dturf ms obvmousay meportnft tlou`l, nfj tld

uatmentd obcdhtmvd oi portioamo enfn`dr ms to nhlmdvd n hlosdf advda oi rdturf by mfhurrmf` tld

adnst possmbad rms/.


10/26


M Xn.dy o. /d +f8d-edf3 tld imrst meportnft obcdhtmvd mfvdstedft snidty or emfmem:ntmof

oi rms/s ms oi tld meportnft obcdhtmvd oi portioamo enfn`dedft. +ldrd nrd enfy typds oi rms/s.

Klmhl nrd nssohmntdj wmtl mfvdstedft mf d1umty sNoh/s, mfhaujmf` supdr stoh/. +ldrd ms fo

suhl tlmf` hnaadj Bdro-rms/ mfvdstedft. $ordovdr rdantmvday aow - rms/ mfvdstedft `mvds

horrdspofjmf` aowdr rdturfs.

& Xn;ad hurrdf rdurf-3 fhd mfvdstedft snidty ms ùnrnftddj, tld portioamo slouaj ymdaj n

stdnjy hurrdft mfhoed. +ld hurrdft rdturfs slouaj nt adnst enthl tld opportufmty host oi tld

iufjs oi tld mfvdstor. Klnt wd nrd rdidrrmf` to ldrd ms hurrdft mfhoed by oi mftdrdst or

jmvmjdfjs, fot hnpmtna `nmfs.

" N22rdh+n+of +f /d 8naud o. hn2+na3 ) ̀ ooj portioamo slouaj npprdhmntd mf vnaud mf orjdr

to protdht tld mfvdstor iroe drosmof mf purhlnsmf` powdr jud to mfiantmof. Mf otldr worjs, n

bnanfhd portioamo eust hofsmst mi hdrtnmf mfvdstedft, wlmhl tdfjs to npprdhmntd mf rdna vnaud

nitdr njcustmf` ior mfiantmof.

% )nr7dn;+a+y3 ) òoj portioamo hofsmsts oi mfvdstedft, wlmhl hnf bd enr/dtdj wmtlout

jmiimhuaty. Mi tldrd nrd too enfy ufamstdj or mfnhtmvd slnrd mf your portioamo, you wmaa inhd

probades mf dfhlnsmf` tlde, nfj swmthlmf` iroe ofd mfvdstedft to nfotldr. Mt ms jdsmrnbad to

mfvdst mf hoepnfmds amstdj of encor stoh/ d;hlnf`ds, wlmhl nrd nhtmvday trnjdj.

1 A+=u+9+y3 +ld portioamo slouaj dfsurd tlnt tldrd nrd dfou`l iufjs nvnmanbad nt tld slort

fotmhd to tn/d oi tld mfvdstor0s am1umjmty rd1umrdedfts.

' Zn5 [anff+f`3 mfhd tn;ntmof ms nf meportnft vnrmnbad mf totna panffmf`, n òoj portioamo

slouaj adt mts owfdr dfcoy invournbad tn; sldatdr. +ld portioamo slouaj bd jdvdaopdj

hofsmjdrmf` mfhoed tn;, but hnpmtna `nmfs, `mit tn; too. Klnt n òoj portioamo nmes nt ms tn;

panffmf`, fot tn; dvnsmof or tn; nvomjnfhd.

"


11/26


Hof9uh+f` )nr7d nf9 Dhofoe+h Xur8dy-3

+ldrd ms dssdftmna ior rdhoeedfjmf` lm`l ymdajmf` sdhurmtmds, tldy lnvd to stujy tld hurrdft

plysmhna propdrtmds, buj`dt proposnas, mfjustrmna poamhmds dth,. *urtldr portioamo enfn`dr

slouaj tn/d mfto nhhouft tld hrdjmt poamhy, mfjustrmna `rowtl, iordm`f d;hlnf`d posmtmof,

hlnf`ds mf horporntd anws dth.

L+-ory o. Xoh7 D5h/nf`d

+ld ofay stoh/ d;hlnf`ds opdrntmf` mf tld >tl hdftury wdrd tlosd oi 2oebny sdt up mf >&

nfj )ledjnbnj sdt up mf >!. +ldsd wdrd 9iimhmdft $nr/dt ypotldsms or`nfm:dj ns

voauftnry fof-proimt-en/mf` nssohmntmof oi bro/drs to rdùantd nfj protdht tldmr mftdrdsts.

2diord tld hoftroa of sdhurmtmds trnjmf` bdhned n hdftrna subcdht ufjdr tld hofstmtutmof mf

>&D, mt wns n stntd subcdht nfj tld 2oebny sdhurmtmds hoftrnhts Ihoftroa6 )ht oi >"& usdj to

rdùantd trnjmf` mf sdhurmtmds. Tfjdr tlms )ht, tld 2oebny toh/ 9;hlnf`d wns rdho`fm:dj mf

>" nfj )ledjnbnj mf >'.

Jurmf` tld wnr booe, n fuebdr oi stoh/ d;hlnf`ds wdrd or`nfm:dj dvdf mf 2oebny,

)ledjnbnj nfj otldr hdftrds, but tldy wdrd fot rdho`fm:dj. oof nitdr mt bdhned n hdftrna

subcdht, hdftrna ad`msantmof wns proposdj nfj n hoeemttdd ldnjdj by ).J.@orwnan wdft mfto

tld bmaa ior sdhurmtmds rdùantmof. f tld bnsms oi tld hoeemttdd0s rdhoeedfjntmofs nfj pubamh

jmshussmof, tld sdhurmtmds hoftrnhts Irdùantmof6 )ht bdhned anw mf >&.

Jd.+f++of o. Xoh7 D5h/nf`d3

7toh/ d;hlnf`d ednfs nfybojy or mfjmvmjunas wldtldr mfhorporntdj or fot, hofstmtutdj ior

tld purposd oi nssmstmf`, rdùantmf` or hoftroaamf` tld busmfdss oi buymf`, sdaamf` or jdnamf` mf

sdhurmtmds.7

Mt ms nf nssohmntmof oi edebdr bro/drs ior tld purposd oi sdai-rdùantmof nfj protdhtmf` tld

mftdrdsts oi mts edebdrs.

Mt hnf opdrntd ofay, mi mt ms rdho`fm:dj by tld @ovdrfedft ufjdr tld sdhurmtmds hoftrnhts

Irdùantmof6 )ht, >&. +ld rdho`fmtmof ms `rnftdj ufjdr sdhtmof ' oi tld )ht by tld hdftrna

òvdrfedft, $mfmstry oi *mfnfhd.

Fnurd 6 .ufh+of- o. -oh7 d5h/nf`d

RYME [n`d >>


12/26


+ldrd ms nf d;trnorjmfnry neouft oi m`fornfhd nfj oi prdcujmhd borf out oi m`fornfhd wmtl

rd`nrj to fnturd nfj iufhtmofs oi toh/ 9;hlnf`d. )s dhofoemh jdvdaopedft prohddjs, tld

shopd ior nh1umsmtmof nfj owfdrslmp oi hnpmtna by prmvntd mfjmvmjunas naso `row. +ldsd nrd

sdrvmhds, wlmhl tld toh/ 9;hlnf`d naofd hnf rdfjdr diimhmdftay.

+ld toh/ 9;hlnf`ds mf Mfjmn lnvd nf meportnft road to pany mf tld bumajmf` oi n rdna

slnrdloajdrs jdeohrnhy. +o protdht tld mftdrdst oi tld mfvdstmf` pubamh, tld nutlormtmds oi tld

toh/ 9;hlnf`ds lnvd bddf mfhrdnsmfày subcdhtmf` fot ofay mts edebdrs to n lm`l jd`rdd oi

jmshmpamfd, but naso tlosd wlo usd mts inhmamtmds-Lomft toh/ Hoepnfmds nfj otldr bojmds mf

wlosd stoh/s nfj slnrds mt jdnas.

Fdd9 .or n Xoh7 D5h/nf`d

)s tld busmfdss nfj mfjustry d;pnfjdj nfj dhofoey bdhned eord hoepad; mf fnturd, n fddj

ior pdrenfdft imfnfhd nrosd. 9ftrdprdfdurs rd1umrd eofdy ior aof` tdre fddjs, wldrdns

mfvdstors jdenfj am1umjmty. +ld soautmof to tlms probade `nvd wny ior tld orm`mf oi 0stoh/

d;hlnf`d0, wlmhl ms n rdnjy enr/dt ior mfvdstedft nfj am1umjmty.

)s pdr tld dhurmtmds Hoftrnht )ht, >&, 7+H 9CH)8@97 ednfs nfybojy oi

mfjmvmjunas wldtldr mfhorporntdj or fot hofstmtutdj ior tld purposd oi rdùantmf` or

hoftroaamf` tld busmfdss oi buymf`, sdaamf` or jdnamf` mf sdhurmtmds7.

Rdùan+of o. Xoh7 D5h/nf`d3

+ld sdhurmtmds hoftrnhts Irdùantmof6 nht ms tld bnsms ior opdrntmofs oi tld stoh/ d;hlnf`ds mf

Mfjmn. 8o d;hlnf`d hnf opdrntd ad`naay wmtlout tld òvdrfedft pdremssmof or rdho`fmtmof.

toh/ d;hlnf`ds nrd `mvdf eofopoay mf hdrtnmf nrdns ufjdr sdhtmof > oi tld nbovd )ht to

dfsurd tlnt tld hoftroa nfj rdùantmof nrd inhmamtntdj. #dho`fmtmof hnf bd `rnftdj to n stoh/

d;hlnf`d provmjdj hdrtnmf hofjmtmofs nrd sntmsimdj nfj tld fdhdssnry mfiorentmof ms suppamdjto tld òvdrfedft. #dho`fmtmofs hnf naso bd wmtljrnwf, mi fdhdssnry. Kldrd tldrd nrd fo

stoh/ d;hlnf`ds, tld òvdrfedft hnf amhdfsd soed oi tld bro/drs to pdriore tld iufhtmofs oi

n stoh/ d;hlnf`d mf mts nbsdfhd.

Xdhur++d- Hofrnh- ?Rdùan+of NhK !*1'3

HI#6 ) nmes nt prdvdftmf` ufjdsmrnbad trnfsnhtmofs mf sdhurmtmds by rdùantmf` tld busmfdss

oi jdnamf` tldrdmf by provmjmf` ior hdrtnmf otldr enttdrs hoffdhtdj tldrdwmtl. +lms ms tld

prmfhmpna )ht, wlmhl òvdrfs tld trnjmf` oi sdhurmtmds mf Mfjmn.

RYME [n`d >2


13/26


+ld tdre 7sdhurmtmds7 lns bddf jdimfdj Mf tld HI#6 ). )s pdr dhtmof "Il6, tld 0dhurmtmds0

mfhaujd3

>. lnrds, shrmpts, stoh/s, bofjs, jdbdfturds, jdbdfturd stoh/ or otldr enr/dtnbad sdhurmtmds

oi n am/d fnturd mf or oi nfy mfhorporntdj hoepnfy or otldr bojy horporntd". Jdrmvntmvd

'. Tfmts or nfy otldr mfstruedft mssudj by nfy hoaadhtmvd mfvdstedft shlded to tld mfvdstors

mf suhl shldeds.

!. @ovdrfedft sdhurmtmds

&. uhl otldr mfstruedfts ns eny bd jdhanrdj by tld Hdftrna @ovdrfedft to bd sdhurmtmds.

. #m`lts or mftdrdsts mf sdhurmtmds.

XDHTRMZMDX NFJ DHLNF(D BONRJ O< MFJMN ?XDBM

dhurmtmds nfj 9;hlnf`d 2onrj oi Mfjmn I92M6 sdtup ns nf nutofoeous rdùantory nutlormty

by tld @ovdrfedft oi Mfjmn mf > 7to protdht tld mftdrdsts oi mfvdstors mf sdhurmtmds nfj to

proeotd tld jdvdaopedft oi, nfj to rdùantd tld sdhurmtmds enr/dt nfj ior enttdrs hoffdhtdj

tldrdwmtl or mfhmjdftna tldrdto7. Mt ms depowdrdj by two nhts fneday tld 92M )ht, >" nfj

tld sdhurmtmds hoftrnht Irdùantmof6 )ht, >& to pdriore tld iufhtmof oi protdhtmf` mfvdstor0s

rm`lts nfj rdùantmf` tld hnpmtna enr/dts.

dhurmtmds nfj 9;hlnf`d 2onrj oi Mfjmn I92M6 rdùantory rdnhl lns bddf d;tdfjdj to eord

nrdns nfj tldrd ms n hofsmjdrnbad hlnf`d mf tld hnpmtna enr/dt. 92M0s nffuna rdport ior >-

lns stntdj tlnt tlrou`lout mts sm;-ydnr d;mstdfhd ns n stntutory bojy, mt lns sou`lt to

bnanfhd tld twmf obcdhtmvds oi mfvdstor protdhtmof nfj enr/dt jdvdaopedft. Mt lns ioreuantdj

fdw ruads nfj hrnitdj rdùantmofs to iostdr jdvdaopedft. $ofmtormf`. )fj survdmaanfhd wns

put mf panhd mf tld toh/ 9;hlnf`ds mf >- nfj strdf`tldfdj mf >-.

92M wns sdt up ns nf nutofoeous rdùantory nutlormty by tld òvdrfedft oi Mfjmn mf >

7to protdht tld mftdrdsts oi mfvdstors mf sdhurmtmds nfj to proeotd tld jdvdaopedft oi, nfj to

rdùantd tld sdhurmtmds enr/dt nfj ior enttdrs hoffdhtdj tldrdwmtl or mfhmjdftna tldrdto7. Mt ms

depowdrdj by two nhts fneday tld 92M )ht, >" nfj tld sdhurmtmds hoftrnht Irdùantmof6

)ht, >& to pdriore tld iufhtmof oi protdhtmf` mfvdstor0s rm`lts nfj rdùantmf` tld hnpmtna

enr/dts.

O;0dh+8d- o. XDBM

RYME [n`d >8


14/26


+ld proeua`ntmof oi tld 92M orjmfnfhd mf tld pnramnedft `nvd stntutory stntus to, 92M mf

>". )hhorjmf` to tld prdnebad oi tld 92M, tld tlrdd enmf obcdhtmvds nrd3-

+o protdht tld mftdrdsts oi tld mfvdstors mf sdhurmtmds

+o proeotd tld jdvdaopedft oi sdhurmtmds enr/dt.

+o rd`uantd tld sdhurmtmds enr/dt.

Xna+df .dnurd- o. XDBM

>. +ld 92M slnaa bd n bojy horporntd by tld fned lnvmf` pdrpdtuna suhhdssmof nfj n

hoeeof sdna wmtl powdr to nh1umrd, loaj nfj jmsposd oi propdrty, botl eovnbad nfj

meeovnbad, nfj to hoftrnht, nfj slnaa, by tld snmj fned, sud or by sudj.

". +ld dnj iimhd oi tld 2onrj slnaa bd nt 2oebny. +ld 2onrj eny dstnbamsl oiimhds nt

otldr panhds mf Mfjmn. Mf 2oebny, tld 2onrj ms smtuntdj nt $mttna Hourt, 2- Kmf`, ""!,

8nrmenf (omft, 2oebny-!DD D">.

'. +ld hlnmrenf nfj tld $debdrs oi tld 2onrj nrd nppomftdj by tld Hdftrna @ovdrfedft.

!. +ld `dfdrna supdrmftdfjdfhd, jmrdhtmof nfj enfn`dedft oi tld niinmrs oi tld 2onrj nrd mf

n 2onrj oi $debdrs, wlmhl eny d;drhmsd naa powdrs nfj jo naa nhts nfj tlmf`s wlmhl

eny bd d;drhmsdj or jofd by tlnt 2onrj.

&. +ld @ovdrfedft hnf prdshrmbd tdres oi oiimhd nfj otldr hofjmtmofs oi sdrvmhd oi tld

Hlnmrenf nfj $debdrs oi tld 2onrj. +ld edebdrs hnf bd rdeovdj ufjdr sdhtmof oi

tld 92M )ht ufjdr spdhmimdj hmrhuestnfhds.. Mt ms prmenry juty oi tld 2onrj to protdht tld mftdrdst oi tld mfvdstor mf sdhurmtmds nfj to

proeotd tld jdvdaopedft oi nfj to rd`uantd tld sdhurmtmds enr/dt by suhl ednsurds, ns mt

tlmf/s imt.

:


15/26


(rolmbmtmf` irnujuadft nfj ufinmr trnjd prnhtmhds mf tld sdhurmtmds enr/dt. (roeotmf`

mfvdstor0s djuhntmof nfj trnmfmf` oi mftdredjmnrmds mf sdhurmtmds enr/dt. (rolmbmtmf`

Mfsmjdrs +rnjmf` mf sdhurmtmds.

#dùantmf` substnftmna nh1umsmtmof oi slnrds nfj tn/d-ovdr oi hoepnfmds

Fn+ofna -oh7 d5h/nf`d ?FXD

+ld 89 wns mfhorporntdj mf 8ovdebdr >" wmtl nf d1umty hnpmtna oi #s."&hrs. +ld

Mftdrfntmofna dhurmtmds Hofsuatnfhy IM H6 oi of` of` ldapdj mf sdttmf` up 89. MH

prdpnrdj tld jdtnmadj busmfdss panfs nfj mfstnaantmof oi lnrjwnrd nfj soitwnrd systdes. +ld

proeotmofs ior 89 wdrd *mfnfhmna Mfstmtutmofs, Mfsurnfhds Hoepnfmds, 2nf/s nfj 92M

Hnpmtna $nr/dt %tj., Mfirnstruhturd %dnsmf` nfj *mfnfhmna drvmhds %tj. nfj toh/ oajmf`

Horporntmof %tj.

Mt lns bddf sdt up to strdf`tldf tld eovd townrjs proidssmofnam:ntmof oi tld hnpmtna enr/dt ns

wdaa ns provmjd fntmofwmjd sdhurmtmds trnjmf` inhmamtmds to mfvdstors.

89 ms fot nf d;hlnf`d mf tld trnjmtmofna sdfsd wldrd bro/drs owf nfj enfn`d tld d;hlnf`d.

) two tmdr njemfmstrntmvd sdtup mfvoavmf` n hoepnfy bonrj nfj n òvdrfmf` bonrj oi tld

d;hlnf`d ms dfvmsn`dj.

89 ms n fntmofna enr/dt ior slnrds oi (ubamh dhtor Tfmts 2ofjs, Jdbdfturds nfj

@ovdrfedft sdhurmtmds, smfhd mfirnstruhturd nfj trnjmf` inhmamtmds nrd provmjdj.

FXD>FM anufhldj n fdw d1umty Mfjd;. +ld 89-&D. +ld fdw Mfjd; wlmhl

rdpanhds tld d;mstmf` 89->DD Mfjd; ms d;pdhtdj to sdrvd ns nf npproprmntd Mfjd; ior tld fdw

sdèdft oi iuturds nfj optmofs.

78mity7 ednfs 8ntmofna Mfjd; ior *mity toh/s.

+ld 89-&D hoeprmsds &D hoepnfmds tlnt rdprdsdft "D bronj Mfjustry `roups wmtl nf

n``rd`ntd enr/dt hnpmtnam:ntmof oi nroufj #s.>, D,DDD hrs. )aa hoepnfmds mfhaujdj mf tld

Mfjd; lnvd n enr/dt hnpmtnam:ntmof mf d;hdss oi #s.&DD hrs dnhl nfj slouaj lnvd trnjdj ior

&G oi trnjmf` jnys nt nf mepnht host oi adss tlnf >.&G.

RYME [n`d >4


16/26


+ld bnsd pdrmoj ior tld mfjd; ms tld haosd oi prmhds of 8ov', >& wlmhl en/ds ofd ydnr oi

hoepadtmof oi opdrntmof oi 890s hnpmtna enr/dt sdèdft. +ld bnsd vnaud oi tld Mfjd; lns

bddf sdt nt >DDD.

Boe;ny -oh7 d5h/nf`d ?BXD

+lms toh/ 9;hlnf`d, $uebnm, popuanray /fowf ns 72$2)? +H 9CH)8@9

I2967 wns dstnbamsldj mf >& ns 00+ld 8ntmvd lnrd nfj toh/ 2ro/drs )ssohmntmof7, ns n

voauftnry fof-proimt en/mf` nssohmntmof. Mt lns dvoavdj ovdr tld ydnrs mfto mts prdsdft stntus

ns tld prdemdrd toh/ 9;hlnf`d mf tld houftry. Mt eny bd fotdj tlnt tld toh/ 9;hlnf`d ms

tld oajdst ofd mf )smn, dvdf oajdr tlnf tld +o/yo toh/ 9;hlnf`d, wlmhl wns ioufjdj mf

>.

+ld d;hlnf`d, wlmad provmjmf` nf diimhmdft nfj trnfspnrdft enr/dt ior trnjmf` mf sdhurmtmds,

uploajs tld mftdrdsts oi tld mfvdstors nfj dfsurds rdjrdssna oi tldmr `rmdvnfhds, wldtldr

n`nmfst tld hoepnfmds or mts owf edebdr bro/drs. Mt naso strmvds to djuhntd nfj dfam`ltdf tld

mfvdstors by en/mf` nvnmanbad fdhdssnry mfiorentmvd mfputs nfj hofjuhtmf` mfvdstor

djuhntmof pro`rneeds.

) òvdrfmf` bonrj hoeprmsmf` oi dadhtdj jmrdhtors, " 92M foemfdds, pubamh

rdprdsdftntmvds nfj nf d;dhutmvd jmrdhtor ms tld npd; bojy, wlmhl jdhmjds tld poamhmds nfj

rdùantds tld niinmrs oi tld d;hlnf`d. +ld 9;dhutmvd jmrdhtor ns tld hlmdi d;dhutmvd oiimhdr ms

rdspofsmbad ior tld jny to jny njemfmstrntmof oi tld d;hlnf`d.

BXD MFJMHDX3

Mf orjdr to dfnbad tld enr/dt pnrtmhmpnfts, nfnaysts dth., to trnh/ tld vnrmous ups nfj jowfs mf

tld Mfjmnf stoh/ enr/dt, tld 9;hlnf`d mftrojuhdj mf > nf d1umty stoh/ mfjd; hnaadj 29-

989C tlnt subsd1udftay bdhned tld bnroedtdr oi tld eoedfts oi tld slnrd prmhds mf tld

Mfjmnf stoh/ enr/dt. Mt ms n 7$nr/dt hnpmtnam:ntmof-wdm`ltdj7 mfjd; oi 'D hoepofdft stoh/s

rdprdsdftmf` n snepad oi anr`d, wdaa dstnbamsldj nfj adnjmf` hoepnfmds. +ld bnsd ydnr oi

989C ms >-. +ld 989C ms wmjday rdportdj mf botl joedstmh nfj mftdrfntmofna

enr/dts tlrou`l prmft ns wdaa ns dadhtrofmh edjmn.

989C ms hnahuantdj usmf` n enr/dt hnpmtnam:ntmof wdm`ltdj edtloj. )s pdr tlms

edtlojoao`y, tld advda oi tld mfjd; rdiadhts tld totna enr/dt vnaud oi naa 'D hoepofdft stoh/s

RYME [n`d >9


17/26


iroe jmiidrdft mfjustrmds rdantdj to pnrtmhuanr bnsd pdrmoj. +ld totna enr/dt vnaud oi n

hoepnfy ms jdtdremfdj by euatmpaymf` tld prmhd oi mts stoh/ by tld fuebdr oi slnrds

outstnfjmf`. tntmstmhmnfs hnaa nf mfjd; oi n sdt oi hoebmfdj vnrmnbads n hoeposmtd Mfjd;.. Mt ms

euhl dnsmdr to `rnpl n hlnrt bnsdj of Mfjd;dj vnauds tlnf ofd bnsdj of nhtuna vnauds woraj

ovdr encormty oi tld wdaa-/fowf Mfjmhds nrd hofstruhtdj usmf` 7$nr/dt hnpmtnam:ntmof

wdm`ltdj edtloj7.

Mf prnhtmhd, tld jnmay hnahuantmof oi 989C ms jofd by jmvmjmf` tld n``rd`ntd enr/dt vnaud

oi tld 'D hoepnfmds mf tld Mfjd; by n fuebdr hnaadj tld Mfjd; Jmvmsor. +ld Jmvmsor ms tld

ofay amf/ to tld orm`mfna bnsd pdrmoj vnaud oi tld 989C.

+ld Jmvmsor /ddps tld Mfjd; hoepnrnbad ovdr n pdrmoj oi tmed nfj mt ms tld rdidrdfhd pomft ior

tld dftmrd Mfjd; enmftdfnfhd njcustedfts. 989C ms wmjday usdj to jdshrmbd tld eooj mf

tld Mfjmnf toh/ enr/dts. 2nsd ydnr nvdrn`d ms hlnf`dj ns pdr tld ioreuan3

Bn-d ydnr n8drn`d +- h/nf`d9 n- 2dr /d .oreuan

Fdw ;n-d ydnr n8drn`d oa9 ;n-d ydnr n8drn`d ?fdw enr7d 8naud#oa9 enr7d 8naud

[ORZ0


18/26


Mt ms tld wdm`ltdj nvdrn`d oi tld d;pdhtdj rdturfs oi tld mfjmvmjuna sdhurmtmds ldaj mf tld

portioamo. +ldsd wdm`lts nrd tld proportmofs oi totna mfvdstnbad iufjs mf dnhl sdhurmty.

mm

f

>M

# ;#p ∞5

5

#p A 9;pdhtdj rdturf oi portioamo

8 A 8o. oi dhurmtmds mf (ortioamo

C M A (roportmof oi Mfvdstedft mf dhurmty m.

#M A 9;pdhtdj #dturf of sdhurmty m

R+-7 )dn-urdedf3

+ld stntmstmhna tooa oitdf usdj to ednsurd nfj usdj ns n pro;y ior rms/ ms tld stnfjnrj

jdvmntmof.

8

>m

"9Ir66-Irm p

5

Ψ5ψ

" 8" 9Ir66-rmI p 6IhdEnrmnf Ψ5ψ

6IEnrmnfhd >drd "ψ5ψ

( A ms tld probnbmamty oi sdhurmty

8 A 8uebdr oi sdhurmtmds mf portioamo

rm A 9;pdhtdj rdturf of sdhurmty m

HLN[ZDR :

RYME [n`d >


19/26


[RNHZMHNA XZTJ] OI XOED XDADHZDJ

XHRM[X

[ORZ N [ORZI ?>I&

%#"#&$!1 &K$*@ >'&,$$ "@%%,$$"#"#&$!1 &K$**,%1 >'$,11 "''',"$

&*#&$!1 &K&@& !&&,$$ !%@@%,$$

&@#&$!1 &K"&",'$ !'",'$ &''%,*'

&#&$!1 &K&'&,*$ !$&,*$ !$1@@,%!

&'#&$!1 &K!@$,11 &$,11 %&&,"$

&1#&$!1 &K$@1,!$ >%,*$ 1'!$,$!

&&$!1 &K$1@,@1 >!$!,!1 !$&"!,"&

&!#&$!1 &K$*&,$1 >',*1 %'!,&$

&$#&$!1 &K!&%,&$ >"1,@$ !&@!,'%

D[DHZDJ RDZTRF &!K'$#!$ &K!'$

?>I & @!K*!$,!1

RMXG @!K*!$,!1 &@',&$

RYME [n`d >!


20/26


RDAMNFHD DFDR(]

JNZD XLNRD [RMHD ? ?>I ?>I&

%#"#&$!1 !K1!$ >%," 11"$,*$"#"#&$!1 !K%@1,11 >*@,'& *&1,*$

&*#&$!1 !K1'@ >!',%& &'*,'&

&@#&$!1 !K'$$,$ !',1" &",&%

&#&$!1 !K'"!,"1 %,!@ &&&1,*1

&'#&$!1 !K'*,&1 !!",$@ !&@,$*

&1#&$!1 !K'&&,$ "@,1" !%@%,1'

&&$!1 !K111,*$ >&@,& **,!*

&!#&$!1 !K1*1,$1 !$,@@ !!@,"

&$#&$!1 !K11,'1 >@,1& &,1*

D[DHZDJ RDZTRF !1K@%!$ !K1@%

?>I & ""K&@,%&

RMXG ""K&@,%& &@',&$

RYME [n`d 2"


21/26


HRO)[ZOF (RDNDX


%#"#&$!1 "$& >@,*& *,''"#"#&$!1 "$*,*1 >$,* $,*1

&*#&$!1 "!% ",%@ !&,$@

&@#&$!1 "&',!$ !1,!@ &"$,&@

&#&$!1 "&',11 !1,'" &%%,!%

&'#&$!1 "!!,@$ $,@@ $,

&1#&$!1 &**,"$ >!!,'& !"1,!%

&&$!1 &*,@1 >!",$ !$,*'

&!#&$!1 "$@,$ >&,&& %,*1

&$#&$!1 "!&,'$ !,'@ &,@!

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RYME [n`d 2>


22/26


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RYME [n`d 22


23/26


:M[RO


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RYME [n`d 28


24/26


4MFJNA XZDDA


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RYME [n`d 2:


25/26


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RYME [n`d 24


26/26


Mfdr2rdn+of

*roe tld nbovd imùrds, mt ms hadnr tlnt mf totna tldrd ms n lm`l rdturf of portioamo ) hoepnfmds

wldf hoepnrdj wmtl portioamo 2 hoepnfmds. 2ut nt tld sned tmed mi wd hoepnrd tld rms/ mt ms

hadnr tlnt rms/ ms adss ior hoepnfmds mf portioamo 2 wldf hoepnrdj wmtl portioamo )

hoepnfmds. )s pdr tld $nr/owmt: nf diimhmdft portioamo ms ofd wmtl F$mfmeue rms/,

en;meue proimtO tldrdiord, mt ms njvmsnbad ior nf mfvdstor to wor/ out lms portioamo mf suhl n

wny wldrd ld hnf optmem:d lms rdturfs by dvnauntmf` nfj rdvmsmf` lms portioamo of n

hoftmfuous bnsms.

Hofhau-+of-

(ortioamo ms hoaadhtmof oi jmiidrdft sdhurmtmds nfj nssdts by wlmhl wd hnf sntmsiy tld bnsmh

obcdhtmvd 7$n;mem:d ymdaj emfmem:d rms/. *urtldr0 wd lnvd to rdedebdr soed meportnft

mfvdstmf` ruads.

Mfvdstmf` ruads to bd rdedebdrdj. 2dwnrd oi bnrbdrs, bdnutmhmnfs, wnmtdrs-oi nfyofd

-brmf`mf` `mits oi mfsmjd mfiorentmof or tmps.

2diord buymf` n sdhurmty, mt[s bdttdr to imfj out dvdrytlmf` ofd hnf nbout tld hoepnfy,

mts enfn`dedft nfj hoepdtmtors, mts dnrfmf`s nfj possmbmamtmds ior `rowtl. +lms hnf0t bd

jofd-d;hdpt by amnrs.

%dnrf low to tn/d your aossds nfj hadnfay. Jof0t d;pdht to bd rm`lt naa tld tmed. Mi you

lnvd enjd n emstn/d, hut your aossds ns 1umh/ay ns possmbad

Jof0t buy too enfy jmiidrdft sdhurmtmds. 2dttdr lnvd ofay n idw mfvdstedfts tlnt hnf bd

wnthldj.

$n/d n pdrmojmh rdnpprnmsna oi naa your mfvdstedfts to sdd wldtldr hlnf`mf`

jdvdaopedfts lnvd natdrdj prospdhts.

tujy your tn; posmtmof to /fowf wldf you sdaa to `rdntdst njvnftn`ds.

)awnys /ddp n òoj pnrt oi your hnpmtna mf n hnsl rdsdrvd. 8dvdr mfvdst naa your iufjs.

(urhlnsmf` stoh/s you jo fot ufjdrstnfj mi you hnf0t d;panmf mt to n tdf ydnr oaj, cust

jof0t mfvdst mf mt.

8ot rdho`fm:mf` jmiidrdfhd bdtwddf vnaud nfj prmhd3 +lms òds naof` wmtl tld inmaurd to

hoeputd tld mftrmfsmh vnaud oi n stoh/, wlmhl nrd smepay tld jmshouftdj iuturd dnrfmf`s

oi tld busmfdss dftdrprmsd.

project on security analysis

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