Guia Para Negocios

5/26/2018 Guia Para Negocios

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1.2. D

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% 1989. Da , S L, MaaLa aa 1980, aa a aa a aa a a a A aa a La. E MRTA (M Ra Ta Aa),a a a aa a, ab aa a ba.

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aa . F 1995 a a aa a a aa aa.

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E b Aa Gaa a a a aa F T, a a a Ea aa a a aa, a, a a, a. S a ab a aba a a a a b a. E P a 2006 44.5 % ba a ba a Aa Gaa a a P. A a 2011, ba a 31.3 %; a a a a a b.


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N ba aa a aa aa OaaHaa, a a a a a a .

3.4.

E P B I (PBI) 4.0 % 2003, 5.1 % 2004, 6.7 % 2005, 7.6 % 2006, 9.0 % 2007, 9.8 % 2008, 0.9 % 2009, 8.8 % 2010 6.9 % 2011. E a a aa E N aa a a. E a aa a a aa aa,aaa a aa a a aa a, aa PBI aa .

3.5. A

E aa a a a P, a a, a. E a a ba a aa. E P

a a a ba a. D P a 84 103 a aa BaMa. S a a (a, a a) a aa. La a a a. La aa ba a aa a, aa ab a a (, a). Laa a a aa a a aa a a a aa aa a aa a aa baaa.

La aaa a a aa a a a a a a aa aaa a aa aa aa b. La a a a aaa aaa aa a aa aab.

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E , a a a aa P, a a a.E a a a a a a a a a a aa aaa. La a a aa a, b aba a, a ab b a. E 1997, a ba aaa

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La aa a a a a a a aa a aaa P. E a a a a aa a. E 1991, P a a a. Ma a a a a 0.4 % PBI 2011, a a a a. E 2011, a a a a aaaU.S.$46.3 a a a a a U.S.$2.1 ,a a 4.6 % a a a.

3.7. M

La aa aa a a aaa. La a a a U.S.$27.4 2011, a 59.1 % a 76.3 % b a aa. E P a a: b, , , aa, . Ma a a P a a .

3.8. P

E aa, a a a a b aa a a. E aa ba b a a aa b a a a aa aa b a. Laaaa a a a 2011 a U.S.$4.7 , a 10.2% a a.

U a a a a a Caa ba Uaa a C. E a aa P. A b aa a a aa, a a a

a a a ba a P.

3.9. M

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19.6 % a a aa.

3.10. C

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2004 4.7 %, 2005 8.4 %, 2006 14.8 %, 2007 16.6 %, 2008 16.5 %, 2009 6.1 %, 2010 17.4 % 2011 3.4%.

3.11. M

E a a ba a XXI, a aa a a ab, a, ab a, P a a. P a a, a a, a a aa a a a ab a a F Ca Aa Pa (APEC), Taa Lb C Aa N (TLCAN), La AaLaaaa Ia (ALADI), a U Ea, G A, MERCOSUR (MaC S), .

3.12. M GA

E 1951, P a A Ga b Aa Aa C (GATT), a

aa a Oaa Ma C (OMC) 1995. E GATT a a a baa aa. E ba aa ba a aa F aa aa a a. A, P b aOMC, aa GATT , a .

3.13. M ALALC

E P a a Aa Laaaa Lb C (ALALC), aa 1960 aa aa a a b Aa Laa, a aaa a 12 a. La ALALC aaa a AaLaaaa Ia (ALADI), aa 1980 ab a a a a a baa a Aa Laa.

3.14.M CA N

E P b a Ca Aa Na (a a Pa A).E b a aa a a aa Ba, Cba, Ea P. E b a aa aa a a ba aa a a a ba a aa aaa a b a a a aa a a a .

E 1993, Ba, Cba, Ea Va aa a a aa, a ab a Za Lb C Aa, a aa a a a aa aa.

E 1997, P a a Za Lb C A a, a a aa aba a D 414, ab a a a aa a aa a 2005 (aa, a a 90%).


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D a aa, a a a D 370, 1995 a Ca Aa a ab a UAaa. Ea U Aaa aaa Ba, Va, Cba Ea a aa aa a a aa a b. E P a; ba, ba a Daa Saa C a Sa 2002, P a aa aa . E , a 1999, b a Ca Aa a ab a Ma CA a aa aa a 2005, a a aa aa.

3.15. M MECO

E 2003, aa a, P Ma C S(MERCOSUR) a aa. E MERCOSUR a 1991 Taa A A C Ra Aa, Ba, Ua Paaa. E Taa ab a a a a a a a a aa , a a aa a a a a aa aa a a. E a b a a aa,

, a a.

3.16. M APDEA

E a 2002, a Ea U ab a L P Ca Aa Eaa a Da (ATPDEA), a Ea U aa aa a aa a aa a aaa a a a a a. Ma a a a, Ea U aa b aaa a aa a P b a Ca Aa (Ba, Cba Ea). E aa a aab 2008 A P Ca P Ea U.

E A P Ca P Ea U, a baa b , a 12 ab 2006, aa C Pa 28 2006, a Caa Ra Ea U 2 b 2007 Sa EaU 14 b 2007. E a a 1 b 2009. L b a a aa a aa, a a a b Ea U P, aaa a aa a a ATPDEA a a baa aaaa a P EE.UU.

3.17. M APEC

P a b a F Ca Ea AaPa (APEC) 1998.Ea a aa aa a a Ca Pa, a a baa a a a ab b a b, aa a a a a aaa a a a Aa Pa.


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3.18. M O

E 2005, P A Lb C Taaa ab aa aa a. P aa, ab a a baa

a b , a a a, a a a a a . E a a b, aaa a aa b a a 100% aa a 2015. Paa , aa a b a a baa , a, , a aa a.

E P ab a a a aa aaa a aa a a a aa aaa a a a a Ca aa a I Paa Ea (OPIC), OaMaa Gaaa I (MIGA), C Iaa A DaRaa a I (CIADI).

E P ab a a a b Caa Sa, ab a 2009. E a aaa a a a aa a a a a.

E P a Aa Ea Lb C (AELC) a A LbC (ALC), a a a 2010. E a a aa P a a b a AELC (Iaa, L, Na Sa) a PBI a Da Ha (IDH: a a aa aab, a aa a). E ALC a a aa a a a a aa a, a . E a ALC

b aba C Pa Paa E. E ALC a P Sa L 1 2011, ALC Iaa 1 b 2011. P a, a ALC a P R U Na a a 2012. E ALC ab a aa a a a a.

E P ALC Ca, a aab 1 a 2010. E a a a a a aa a a a , ba a a a.

La a ALC Ca a . E ALC a a ab 1 a 2011. E ALC ba a a a a, a a

aab aa a ab a. E P a aa Aa Laa, a a, a, a aa, aaa.

La a a b Ca Ra Paa a 2011. E ALC P Ca Ra a Sa J, Ca Ra, 26 a 2011, aa P 27 a 2012. Ea a a 2012. E ALC P Paa, a 25 a 2011, a a


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2012. E ALC a Ca Ra a a a 80% baa. E a Paa aa a a a aa a aa, a 99,2% a a Paa ba a.

P ab a a ALC Ja 31 a 2011, a b 1 a 2012. E a, P a a aa Aa, a a a . E Paa a a Aa S aa a a. E , a a a a ab a aa, aa b, a baa aaaa aba a. P a a, a a a a a a a , aa a baa a .

E 6 b 2011 ALC P Gaaa, a a a a a 2012. E a a a a aa aa () a a a a a () ab a aa aa aa

b, .

E 7 2012, A Aa Paa P Va P M C ab a. E a b a a aaaa a a a a aa a, a a ab a a a a baa ba a aa, ba.

P a a, P a A Aa TaPa, a a aaaaa b aa a b A Ea TaPa Aa Ea (P4), B Daaa, C, Na Zaa Sa, Aaa,

Ea U Va. E a b aa a, a a a a b. D , a a ba aa A Lb C Lb AaPa(FTAAP).

3.19. D

E P a aa PBI a 12.9 % 1994, a aa . E a aa b a a a aab.Ea, a 1993 1996, a a aa a 32.4 %, aaa aa Aa Laa.

Ga a a a a a a aa aa. E ab b a a a aa aa, a a a aa aa a PBI aa ab. Ea, a a a aaaU.S.$5.9 a 1996, a a 2011 aaa U.S.$46.5 , a 790 % 15 a. S ba, a a ab a aaaa a a b a a aa


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b aa b . La a aaa U.S.$7.9 1996 a a 2011 aaa U.S.$37.0 , a 648% 15 a. E PBI 2.5 % 1996, 6.9 % 1997, (0.7%) 1998, aa 0.9 % 1999, 3.0 % 2000, 0.2 % 2001, 5.0 % 2002, 4.0 % 2003, 5.0 % 2004, 6.8 % 2005, 7.7 % 2006, 8.9 % 2007, 9.8 % 2008, 0.9 % 2009, 8.8 % 2010 6.9 % 2011, ba aba aaa a a a.

3.20. D I

E P a a a a a aa a 90'. La a aa a a 7,000 % 1990, a 139.2 % 1991, 56.7 % 1992, 39.5 % 1993, 15.4 % 1994, 10.2 % 1995, 11.8 % 1996, 6.5 % 1997, 6.0 % 1998, 3.7 % 1999, 3.7 % 2000,(0.1 %) 2001, 1.5 % 2002, 2.5 % 2003, 3.5 % 2004, 1.5 % 2005, 1.1 % 2006, 3.9 % 2007, 6.7 % 2008, 0.2 % 2009, 2.1 % 2010 4.7 % 2011. Ea a aa 2012 2.5 % 3.5 %.

E P ba a a a a FMa Iaa a a a a aa. E a 6.5 % PBI 1990 a 2.5 % PBI 2001, 2.2 % PBI 2002, 1.7 % PBI 2003, 1.1 % PBI 2004 0.3 % PBI 2005. S 2006 a 2008: 2.0 % PBI 2006, 3.1 % PBI 2007, 2.4 % PBI 2008. Da 2009, a 1.3 % PBI, a 2010, a a 0.3 % PBI. Da 2011, a 1.9 % PBI. E a a b aa a a a aa a aa a a a a aa aa a b.

3.21. D M

Aa, a aba P a a a a aa. E BaCa Ra P aa aa aba a aa aa aa a a aa aaa a a a aa a a a ab. E a a a RaIaa Na a 2011 aaa a U.S.$48 . L ba aa aba a a a a aa a a aa baa aa aa aa a a a aa. Laa a N S a 9 a 2012, a a a a aS/.2.61 N S. E ab baa a aa a.

M a, aa. L a a

aa aa a b a b ba aa. L aaa a a baaa a aa a a a a ,a a, a a, a a, ba a a.


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3.22. D D

Da Gaa (19851990) P aa b aab a F Ma Iaa (FMI) , 1987, aa a ,

a a Ba Ma. E b aba aa aa a a a a 10 % a a. P a a aaa a a a. E 1989, Ba Iaa Da (BID) aba a P a a .

E F a a 1990 a a a aa P aba a aa a a a a aa, a a a a aa. La a aaa P 1990 a aaa U.S.$20 . La a a aba a 500 % aa a P a a a P B I.

E a a aa aa, a baa ba a aa P a b a. Ua aa, P a a b aa a b a a a aa aa a a aa,a, a, a, aa, .

L P a aa aa a , b aa a aa Cb L, baa aa C Ba A ba a Cba. A a 1997, P a a a a Pa Ba. E Pa Ba aa US$10.6 a a US$4.9 . Eaa a a 150% a. (E a a US$ 4.2

aba a US$6.4 ).

La a a ba Pa Ba a a b a a aa P, a aa aa aa a P, a a aa, a a aa a a a aa aa.

E b 2002, b P a a aa aa 74 a aa a b ba.

A 2011, a a ba $37.6 , 21.2 % PBI

aa 23.3 % PBI 2010.

La aa aa Saa & P a aa a P a a .

E 13 a 2009, F Ra a a aa P a aa a aa (BBB) a a (BBB). L b a aaa a aa BBB. L a a a aa


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P a a ba, a a aa a aa.

3.23. M

E P a ba a: La Ba Va La (BVL). E a

a BVL aa a 8:30 a aa a 2:00 , a , a a aba a: La a aa Ra Ba aa aa Ma Ab. Da a 1997, 56% Ra Ba 44% Ma Ab. E a aa a Ma Ab aa b 1999, aa a a a a Ra a Ba a.

L a Ra Ba aa , aa, a baaa,a ab, a , a a b.

A a aa 90, a BVL aba aaa a aa. La aa

baa a a a aa a a a ba aa aa. E a aa a a, a a a, a PBI, a 13% 1979 a 5% aa 80.

D 90 a a aa a aa aa a a a aa a a a a. L ab a a a L Ma Va aa D La N. 755 b 1991 a a D La N. 861 b 1996. S aa a a L Ma Va a a b 1996. E 2002, a aaa D S N. 0932002EF.

C a ab, a 1997 a aa b a27% a PBI. E 1992, a BVL aaa a a ab 123.7% a aa. D , a a 1993 1994, a BVL 89.7% 51.2% a aa, a. Paa a 1997 a aaa a a BVL aa US$ 17.4 .

N ba, a a a aa a a aa a aa, a BVL a a aaa aaaa a a 90. S ba, a a 2002 2003, a BVL aa a aab a b. Da a 2006, a BVL a ba ab , 186.92% a a aa.

Haa 2012 a aa a a a aaa:

1. La aaa a a US$131.857 . Ea a US$121.596 aaa a a 2011; a a a 2010 US$160.87 . Da 2009, a aaa a US$107.32 ; US$57.23 2008; US$108.22 2007; US$60.20 2006; US$36.2 2005; US$20.11 2004; US$16.08


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2003; US$12.6 2002; US$10.9 2001; US$10.5 2000.

2. La BVL a aa 266 aa 2011 aa a 263 aa 2010 a 254 2009.

3. E a aa b 2011 US$7.8 , aa US$6.7 aaa 2010. E 2009 a $ 5.7 .

3.24. M M (M)

E a aa a a a a Sa Ma Va (SMV), a aa a a a (SEC) Ea U

Aa. Ua a a R Pb Ma Va a SMV, a ba a a a a a a a a a a SMV a a BVL. Ta a a aa b a aa a aa a a SMV a a BVL.

Ua (Daa R) aa a a a ba aa b aaa a SMV. La Daa R b , :

1. Ia aa a a a a , a a, aa aa.

2.

E a a a a.

3. S a a b, b b a aaa aa a (a aa) ba aa a b ba b..

E a a a a aa a SMV b a a a BVL.

E J 2006, a b aab a a aaa; a a b 2008. E a 2008, aR CONASEV N. 0152008EF/94.01.1, a a SMV, a 15 Ra I E Va a Ba Va La a aa a a a a. E aa, a a a ba a a aa a a a (IOSCO), a aa a Ba Va La a .


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3.25. M

La a a ba (SAB) b a a SMV b aa aa aaa US$514,915. E a aaa 27 SAB aa a a SMV.

La SAB ba a a 0.3% aa 1% a. A, a BVL ba0.0775% a, 0.0075% aaa, 0.005% aa a. La a SMV a a 0.05% a, a a CAVALI ILCV (I La Va) a a 0.065%. S ba a a a 18% (IGV) b a a.

3.26. M O

La L Ma Va a b a ba a (OPA). A, a aa a a ba a. C

a , P ba a a OPA aa a a a a a , ba b a a ,a a a , a a a a a a a aa a aa a aa aa a a b.

La aa aa a a a a 25% aa a a a a ba. Paa aaab :

1. La aa a a 25% a aa a a a aa ( a a a a);

2. La a a aa a a a aaa a aa a a a a a (aa a) a (a) a a aa (b) a a a a b.

P , a a (aa a) aaa a a aa 25% aa a a a aa, b a a OPA. Ua OPA ab ba a aa a a 50% 60% a a a a a aa.

3.27. M F

La L Ma Va ab a ab , a a a.

A, a :

1. N 15% a aa a a aa.


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2. N 15% a a a a a aa.

3. N 15% a a a a a a aa.

4. N 30% a a a a .

Tab ab b a 50 aa aa b a aba a SMV, a b a a a a 10% a .

A b 2011, a aa a a a US$ 5.15 58 a a Db 2011. E a aa 262,816 279,429 263,031 aaa 2010 2009, a.

E aa, b a a aa a. F

ba a Ea a a Ca Faa Da (COFIDE) a aa a. La a a a a aaaba b a aa a. La a a aa a a a aa a EE.UU. a a (NS) a aa a a aa a (a aUa Ia Tbaa UIT, aa PBI, ).

La b a a aa 1993, a a a a 37% a b a. A , a a a a a a b a a aa aa aa ba a a ba a BVL. La a a aaa a

a a b ba aa.

E a aa a a a a ( . a) US$ 13 1990 a aaa US$640.7 2010 US$641.72 2011. P a, a a a aab ( ., a)a US$ 1.19 2002 a aaa US$ 6.241 2011.

La a a b 2011 a aa b.

3.28. P 19912011

E P, 1991, a a aa a aa aa a a Ea. A 2011, a aa aa US$ 21.1 .

3.29.

A 31 b 2011, a a aa a aa a Aa P a I Paa (P) aaa US$22.019


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aa US$ 21.460 a 31 b 2010 US$ 19.708 a 31 b 2009.

A a 2011, Eaa, Ea U Aa, Sa, C, R U a a P a a 55.68% a aa.

E 2011, a a a a aa a (24.45%), aa (18.42%), a (17.21%), a (13.92%), a(13.14%) a a (87.14%) a aa aaa 2011.

3.30.

La aa a a a a Ta Eaa 1994, a a aa a a Caa Paa T (CPT) a Ea Naa Ta (ENTEL). E aaa US$ 2 , a US$ 1.4 a aa aa a Ea US$ 600 a b a aa aa a a aa. E 2004 Ta a a a BS P. E 2005, Aa M P a 100% a a TIM P aaa T Iaa Mb S..A. Aa M a P a a aaCa. E 2011, Vaa V G a a a ab aaa a aa a a baa 1.900 MH.

3.31.

E a b a a, a a a a ; a ab a a a

aa a a aba a. D a aa, a aaa a a a a a a. Va a a a:

1. La a H P a a aa a Sa C. a a US$120 ;

2. La a b Qa a a aa a Ma Ba US$ 12;

3. La a Caaaa a C L. Mab US$ 193 ;

4. La a I a S P C Ca US$ 66.6 ;

5. La aa a Taa a a a Gba Maa L. Maa C US$ 246.9.

A 16 b 1998, aa NaaTR A a b aa a a US$ 2.2 a a a a aa, Aaa. E a a US$ 300 a aa


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a. E 15 a 2005, a a aa baa Va D aa aa a a a Baa, a a Pa. E ba Ga a aa SP a aa.R, b a a a Ma a AAa S a b aa; a aa a Ma a aa a Caa Ma Aaa; Iba Ma a aCaa Ma Cab Taa.

E a 2010, Va (Ba) aa a a a CaaMa M S.A.A. a 16.4% a a a , a aaaa US$ 420 . Aa, Va 50.02% a a a a a a aa.

E a 2011, G F Ca BVI Laa a a a a a aaa a Ra Ba a Ba Va La (BVL) 100% a a a G La Ca S.A. US$ 420 , b 8% a a a G La Ca S.A.

E 2011, M Ea Ma US$ 41.4 a a a a aa a P a. D a aa, 68.15% a a a a b.

P a, 2011 aa a US$ 15 aa a 20122013, : La Baba, Ma Ca, Ga,C V Paa P, .

3.32.

E a a b a aa a a a baaa a a. E , a a b aa a :

1. Ba Bba Vaa, ba a a Ba Ca US$ 256 ;

2. Ba Saa S.A., ba a a ba a US$ 97 ;

3. Iaa Faa H a a Iba US$ 51 ;

4. Ba Sa Iaa a a Ba La US$ 100

a a Ba W;

5. Saba Caa a a Ba W Sa, Ba Taba PAFP.

E Pa AFP a AFP U Va G Saa. Ba HSBC D Ba a a a a a a . U aa aa a a aa a a a a a


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a a aa aa .

E 2010, Ma Sa ab a a a P aa aa a Aa Laa.

3.33.

La aa ab a a a. La aa Ea aa a a a a a a. P :

1. E b 2000, a Ga Caa a a PHSK, a TPH P Ca PSK Ca a LENaa SaaGaa M a aa b b 2000.

2. E ab 2001, b a a a a a LaOaCaaaPaaaDa Aaa AaaPaa a a aI Ea S.A. E.S.P. Taa S.A. E.S.P. Aba aa ba.

3. E b 2001, PSEG a Ea a a Taaa E PSEGAa.

4. E 2002, a a a ETECEN ETESUR a 30 a a a a baa I Ea S.A., US$241.58 US$ 10.5 aa.

P a, a ENERSUR a aa P Ya (Ca aa U

A), US$ 205 . E a a aaa a a a aaa 130MW, a aa 3 a 44.5 MW aa aa 901 G a. La 50 . a a a ab aa aa a a Sa Naa Ea.

E a 2011, b a 911 MW aaa a aa a aa a a a: C Gaa Pa, C a S.A. Ea Ga Haaa S.A., a a a US$ 1.7 .

A, ab 2011, a a baa Ob a 51% a a KTaaa Ga, aa aa Ga A S,

a a a aa Caa C P a a a C, Aa,P, Ma Taa a US$ 1.5 .

3.34. F

La aa a a a a a. Ua a a a a baa Baaa SABM , aa a a a a P, U Ca Paa Ba


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J S.A.A baa. D a, Raa Ca a 30% a aa Caa Ca Ab P. Aa, G Gaa a aa a a a aaa Ea Aa Caa Ga. Tab aab a a a a a, a a a G SaP (SIPESA) Ta A (Taa) US$ 130 . Aa, a a 2007, a a a C a Sa W S.A.; Cba aa P AFP; Ra G a aa Aa; a aaaa Sa A a a aa aa Ba S.A.; Ca Pa S aa 70% baa aa a G D; 3M P S.A. a 100% aa a aa aa Aba S.A. A, 2010, Taa, a aaa ba aa, a 100% A P (AP), a aa a a a P. E 2011, G Iba (P) a 100% Iaaa, a a aa a aaa P, 100% Bb, a aa aa a a 60a a. Aa, Ta Paaa I Ia, aaba a a , a Ca Iaaa, abaa, a aa a.

3.35. N

Da a P a aa a a aa G S (AaM), Ea, Va, Saba, Laa H, Ca F G, A, Pa Aa,SAB M, C Iaa Laa, G F Ca BVI L, Gba CIaa, Ta Paaa I, V G, APM Ta, a a Ta, FMMa C & G, P D, Xaa, . A,a a a a aa , a a aaa a aa a a a a a a aa aa : Ab, HSBC Ba; D Ba, Ba Saa

Ca Ha S.A., Dba P, G Ga. Caa S, Ob, AaG, R, P, a aba P, a a a.

P , a a a a a aa aa a a 20082010, a C IaaLaa (C), Ea Laaaa S.A., (Eaa), G F Ca BVI LMI (R U), SNP P PTE.LTD (Sa), Caa Ma LaAa (CLA) (C), P LTD. (Faa),Ga S.A. (Ba), A Aa PLC (R U), Iab S.A. (C) Aa Ibaa S.L.(Eaa).

A a a, P a a Aa Laa, a Ba, M C.


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C 4

O C

4.1. I

E a a a aa a a, P. La aa a aa a, a ab a a, aa a a a aa: a aa aa .

La L Ga Sa aa ( aa, a L Ga Sa) a a a aa a. La a : a Sa Aa a Sa Ca Raba Laa. Aa a , a L Ga Sa

a a a Sa Ca, a Sa Caa S, a Sa Caa A a Sa C.

E a b a a a aa a a ab P.

4.2.

La Sa Aa a aa P. S aaa a aaba aa aa, a aa a aa.

E aa a a a aa a a, aa a ( , ba, aa ,a a ba, .).

La Sa Aa b aa, a aa /a. La a a a aa a.

La a aa aa a a a a. La a a a b a a a a. La a a a a a a b. La

aa a a a a 25% a aa a ba a aa.

La aa a Sa Aa a a a .E b a a b a b a. La a.

La a a aa a a a a a


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aa a Sa Aa. La a a aa b a a a. La a a baa b aa aa a aaa b a a a a, a.

S a a a, a a . La a b ab; ba, a ab a a aa a ( , a ).

La L Ga Sa Sa Aa: a a aa aa, aa aa aba a a aa aa. La a aa aa aa aa a aaa aa aa a aaa aa aba.

4.3.

La a aa aa 20 aa. S a aa R Pb Ma Va , a, aa aba a. E ab a aa a a a a a a. E a a a a a a. Aa, ab aa a aa.

4.4.

Ua a aa aba a :

T 750 aa. Ha a ba aa a ba b a. M 35% aa a 175 aa, a

a aa a a aaa a aa a aa a aa.

La aa a a aa; , a .

E a a a a a baa a a a a a a a. Ta a a a a a a a

aa a a a a aa.

La a aa aba b b a a R Pb Ma Va. La Sa Ma Va (SMV) a aa baa aaa a a a a aa aba a aa:

E a aaa a a a aa aba, a a; E a aaa a aa aba a a;


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Da a a a a aab, a a a a a aa a a a aa aba a LGa Sa a a a SMV.

L aa a a a aa aba aa aa.

4.5. D

La a aa aba baa a a a a aa aa 5% aa aa, a a a a a a a aa a a a a.

4.6. D

L aa 5% a a a a a aaaba a a a aa a a aa.

4.7. D

A aa 25% a a a a , a a aa a a a a a a a aa, a aa aa a a b a a.

4.8. D

L a a a aa aa a L Ga Sa, a a a a a, , a a, a a a a aa, a a. L a a a a a L Ga Sa a C C a ab ab a ab L Ga Sa. N a aa . La a aaa aa aa aaa a a aa, aa a aa aa a ba . E aa aa a a a a a a aa aba a a; aa aba a; a

aa, . E ab aa aa a a a aa aa a a aa aa.

4.9. D

A aa 20% a a a, a a a, a a a. E , a, a a a aaa aa a b a a aa a


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a a. E ab aa aa a a a aaaa a a aa aa.

4.10. D

L aa a a aa a aa a a aaa aba a a ba R Pb Ma Va.E a a a a aa aba ba aaa a a aa. L aa a a a a aa.

A, aa a aa a, a a baa a ba Da Oa a a a b a a, a a a a a a a aa aaa, :

E a a aaa a a a a; E a ba b; E a a a a aaa a a

aa a aa a ba ; La a aa a aa a ; E aa ( b a a a).

4.11.

La a aa aa a aa aba a aa aa, aa a aa aa, aa aa a a L Ga Sa.

4.12. E La a aa a a. La a : (1) a a a, (2) a ba a a, (3) a aba a a . Ta a a a a a ba.

La a aa a a , a a a a aa aa,a aa aba a aa aa. La a a a a aa a a aa aa a a a aa. E a a a aa aa :

Paa a a a a a a a

a aa; S a a a a aa a a; Ia a ; Saa a a a a L Ga Sa a.

A, a a aa, aa :

b a a a aa aa aa, a a


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a a aa a aa aa a a a a a a ;

b a a aa a a aaa aa aa, a a a a aa a a a a a a , aa a a a aa aa;

b a a a aa aa aa a a aa a a a a aa a aa a a a a a a aaa aa aa a a a a a a ;

b ba b a a,a a a a a.

4.13.

La aa a a aa a a a a a aa .

4.14. J

La a a aa a a a a aa, b a a a a a. T aa, ,a , a a a aa a aa. La a aa , a a 20% a aa a . La L Sa a ba a a aa aa a a a a aa ba a a.

La a baa b a a a, . La b a aba aa, a aa a, a b a,a a a a a a a a a a a aa.

A, a a a aa aa a b ba a , a a, aa aa a a, b, aa a a a a a a a 50% aa a a,a a aa a, aa a aa, , ,aa a a b a.

4.15. D

La a a aa a b . E a ab , . A, ab a a a a, a a .S a . La a a aa a a a aa a. E a a, a


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a a a a . N aa aa . S ba, a ab . E a a aa, a a a a b .

Ba a L Ga Sa, a a baa a aa aa a ( aa). E , a a aaa a a b ba . P a a aa aa b a aa a aa aa .

E 50% . S ba, a ab a, a a aa b . La aaa a aa a, a ab a.

La L Ga Sa ab aa aa a a

aa aba.

4.16.

La a a aba aa aa aa aa, a a aaa b aa a, aa a. E a 20. D a a ba a a.

A a a aa, a aa . S ba, 25% aaaa b a aaa a a a a a

R Pb Pa Ja.

L a a a a a a a aa aa. E a ab a a a b a. Sba, a a a baa a aa 20% aa aa.

La aa a a aa a ab , . D b a a a a a a, a a a a b aa. N .

E a a a a aba aa a a , a a a . La aa ab b a a a. E b aa a , a aa aa. E a a , a aa aa aaa, aa. S , a aa a aa a.


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4.17.

E a a aa a a aa aa a ba a a. Ea a aa aa aa aa a

a. La a a a a. S ba, a a . A, a a a a a b abaa a R Pb Pa Ja. La aa a aa a a b abaa .

A aa a a, a a a aa aa , a a. S a a aa a a aa, a a b ab a aa . E a a a a a , a ab a b a.

4.18.

Ea a aa a (a) aaaa aa a ba a a a, aa( a) a aba a a b a aa. Ea aa aa aa a ab. Saa a, aa aa a aa .

Paa a a aa a 50% a aa a aa. Paa a a aa aa a a 50% a a 50% a aa aa.

4.19.

Ea a aa ab (a) aa ( a), a a aba a a a aa . La a aa aa a b a. L a a a aa a a. S ba, aa a a aa a a a aa .

La a a aa 50% aa, a aa aa ab . La a aa b ab, a a a a aba a a ba.


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4.20.

La a aa a, a a , aaaa . Ha a : () a a aa; () a a aba aa. E a a, a

ab a ba a a, a a a aa. E aa, aba a a 30. E aba, aa a a b a a aa a a ba a a. La aa aa aa ab, a a.

La aa aa b aaa a a aa a a ba R Pb Pa Ja. Laa a a a ab a a. Aaa a, a a a. A b aa . E a, a a , a b a a a a a aaa.

La a a a a a a aa a . L a aa aa aa a a a , a aa a, aa a. Taa a a a .

4.21.

La a aa a a a aa a aba P a a ba, a a b a R Pb

Pa Ja. La a ba b a a a:

E a a a a a a a aa a a a ab a a;

Ca a a a a a ; E a ab a a P, aa a a a

a. E a b a aa aa aa aa a; a aa a aa a b a; a a a; a a a a a a; ; a a P aa aba aa a a a.

4.22. A

E a aa (aa) b (aa). E a a a aa / a a aa. E a a a R Pb.


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E aa aa a aa a aa a a a a ab a aa b (, a / ) aa a a . E aa aa a b a aa aa a a. La aa a aa aa aaa a aa, a a a ab a .

A a a aa, aa aa a a a aa a a. E a a a a aa a.

E aa a aa.

L a aa aa a aa, a a a b aa R Pb.

E a aa aa aa a aa aaa a a a , a a , a a a, .

S aa a a aaa a a a a aa , ba, b a. La a a a a a:

L a a a a aa a a a a. N a aa ba. E a a a a a a a a aa. La aba a a a a aa . N b a ; a a aa.

4.23. C

U a a a aa aa a a a a aa b aa a. Caa b a a aa aa a aa aa aa aa . Aa, aa a b a aa b a ab a.

L a aa a a ba aa a a. Laa a a a aa a a.

Caa b a ab a aa . Caa ba aba aa b aa ba .

E a b a a , a aba aa b , a aa aa a a .


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E a b ab a aa aa b a aaa a.D a, a aa a a aa aa b.

4.24. F

E a aba a L Ga Sa:

() a, a aa a a a aaa a a a aa;

() ab, a a a aa aa a aaabb. E a (), a a a aa.

E a a, a a aba , aa a aa aa a b aba a aa aa aa aa. L, a b abaa aa aa a aaba aa a a aa aa. La aa a a a aa a a aaba b baa Da Oa a (10) a a a.

Caa aa aa a b a a aa,, b a:

() a ;() a a aa;() a aa a a aa a; () a a a aa, aa aa a a

aa aa a .

Paa a a a a b a a R Pb. E a a a aa abba aa. E a a a aa aa.

E a aa a aa aa a a a a. E a aa 30 a a a ba a . Da aaa a a. Ma a, a aa a aa a a aa a a.

4.25. E

La a a aa a a a aa a a aa a a aa . S a a aa a, a aa a. S a a a, a aa b aa. L ba a aa a b a a() aa() b() a.

Paa a aa a ab a a aa a a a a. La a a a a a a


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, , aa aa, a a a a , a a R Pb a .


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C 5

O O E

5.1. E

La aa aa a L Ga Sa Fa Sa S Oa a Sa Baa S, L N 26702. L ba aa a aa a aa. L a a ab a abaaa a a, a a. E b a a a aaa aa aa aa ba aa aa a a baa aa a aa a, , a, aa aa aa , a . E Ea a a a a a a a a a a aa.

Aa, a a a baaa aa a aaa Ba a Na (BN), a aa aa b, aa aa b a b a a b a aa. E BN a a aa aa a.

E Ba Ca Ra P (BCR) ab a a aa. La Sa Baa, S Aaa Paa F P (SBS) a aa aa a a aa a a aa ba, aa aa aa , a a aa a aaa aa (aa aa a, , aa aa aa a,aa a a, ab aa, ). La SBS

a a , a a, a aa ba . Ta a aa b a a aa.

5.2. B

E ba b (2) aa a b a aBa Va La. La a a a . A, ba b a aa (a a a, aaa US$ 4747,800 aa aa aa US$ 9441,200 aa ba), a aa a aa.

U ba a a b b aa ba a a aa aa, a , aa ba a aa aa a aa aaa a a a a.

L ba a aa aa, a a,a a a , a aa a, aa a , b ba, aa aa, a


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( a a a baa), aa a aa, aaa ( a a a baa). E a b, ba a a aa a aa baaa. La ab b b a a b aa ba a a a a b a (1) a. S a a a , ba ba a a a b bb a a b a.

5.3. E

Ua a aa aa aa a a a ba aba , . E a a ba a a aa aa a a aa a aa aa . La aa aa aa aa b a aa aa a a a a, a a ba ba aa a a.

5.4.

L ba a ab a P a ab a SBS a aa a a.

La a ba a b b a aba a aa aa aa. E ba a b aa aa aa ab a a a a a a a aa a a a aa. La a baa P a a a a aaaa.

Ua , a SBS a aa aa a a.

5.5. O

L ba a a a P aa a a

a ba a a . Ea a a

aa a SBS.

C a aa a SBS a a a Oa Ra Baaa P, a SBS aa a aaa a a a (a aa a) aa a a aa a aa.

La a a a a aaa aa:

Pa aa a a aaa a, aa aa a;


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Pa a a a aa aa aaaa a a a b a aa;

Pa aa aa a aa.

N :

Raa a ba a a aa aa;

Caa a a a a;

O a a, aa, a ab.

5.6. E

La a aa a aa aa a a aab. P a, aa a a b b b aa aa

a a a aa a a ab a a a a a aa b a a.

5.7. E

La a a a aa a a aa aa, a a a a ba a a. Ea a a a b a ab aa a aa a.

5.8. E

La a aaaa aaa a aaa a aaa aaaaa a a aa a a a a a a a a a, a aa .

5.9. E

La a a aa a aa a aa, a a a aaa.

E a a a a b aa a, aaa a, aa a a a a

aa a a a aa a. E a a a a, , a, a, aa b a.

E a a ; a a a ba aba C C, b a b a (a, b).


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5.10. E

La a aaa baa aa aa a aa a /a b, a a , ba a aaa baaa , a a a a a baa.

E a a aa a a a abaa a a a a, a . Ea a ba a a aa aa b a aa.E a a a.

5.11. E

La L Ga Sa Fa Sa S Oa a Sa Baa S, L N. 26702 a aa a . E , a a a a a a aa a aa aba a aa ab a

aa. La SBS a aa aaa aa a a aa a a. La SBS a a a a a aa.

L a a a a aa a a a a. L a b aaa a SBS.

Paa a aa a aa a a SBS. La aa b aa a a aaa, (2) aa.

Tab, a ab a ba ba a a a. A, aa aa a ba a aa aa P. E a, a b aa aa a , a b aa a a a aba a SBS.

5.12. A

E Sa Pa F P a D L N. 25897, a 6 b 1992. D D L ab a a ba aa a a a aAaa Paa F P (AFP).

La AFP a aaa a ba a a a L Ga Sa, a L P a. Ta a AFP b (5) aa aa a a. S b a b aa ba a aa aba a . La AFP b aa a aaaa . E aa b a a aa aaba . La Sa Baa, S AFP (SBS), a a a AFP, b aa a a AFP a b a aa a Ba Va La.


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E a a a b a ba b a, a aab aa aaa a a a. La b a , aa a AFP. Ta a a a . Lb a baa a a a aaa a , a aa a a aaa a aa a AFP, aa aa a . La aa a a a b ba, a aa.


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C 6

E

6.1. L

E aa P D La N. 662, L aP a I Eaa D La N. 757, L Ma aa a IPaa, ba 9 b 13 b 1991, a. Aba aa D S N. 16292EF 12 b 1992.

E D La N. 662 a a aaa a a a aaba baa a, a ba a aa; aa a a aa a, b a aa a.

E D La N. 757 a a a aa a aa , a a baa a aaa b a a a b aaaa, a a a a aa a. Ea abab b a , a a aab aba.

6.2. Q ?

La aa a aa

a aa a . P a aa a a:

A aa a aa a aa, aaaa a a abaa aa, a aa a a a , a b b b ab.

I a aa a a . C ba aa a. R a a a a . A b ba a P. Cb a ab a aa, a, aa a

, aa , a aa b ,

. I , ab a baa a aa

aa. R a a a aa aa a a a

a a a a aa a aaa aaa, a a aa.

Ca a aa aa ba a a a.


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6.3. D

C a 6.5 a a aba, a a aa a aba a a aa a a aa a a.

L a a :

L a aa (*).

E a a, aa a aaa (*).

EL a aa a; a a ba a a ba a; a aa aa a, . L b a a a a 4.1% a aa. La a aa b aaa a a a baa a(*).

E aa a aa; a a a a a,aa , aa a a aa a ,; a

. La a a aa b a a a baa a (*).

La ba a a ab aa a a, a a a a.

E a a ab aab a aa aa ab.

E ba a aba a b a aa a a.

E a aa a , a a .

E a a a , a, a a, aa aa.

N a aa b aa a a a a (*).

6.4.

L a a aa a a b aa a a a baaaa. La aa aa a aa a a aaaaa. Ua aa, b a a PI, a a a aa a. E a aaa PI ab

a a a aa a a a aba.

6.5.

La aa a aa a a b, aa aa aa a aa aba a C Pa P. E a71 a C a a a , a, a,a, aa, b, bb a, a a, 50


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a a.

6.6. I ,

La a aa a aa a a. E ba

a aa a a ba a aa P a a a a a aa a.

D a a aa, a a a aa aaa a aa, aaa, aa. E a a b b a .

C a a ba, a a a b aaa aa a a a. Ua aa 4.1% aaa, a a aaa P. P a a, a aa aaa a aa 30%.

6.7. A

L a a aa a a aba a b a a PI, aa a a a a a a aa a . La aba a a 10 a. La aa a aa a baa, a b a a aa a aa a a b a ba a aaaa aa.

Paa a a aa aa, a b , aaa, a:

Ea a a, a a US$ 5 ; Ea a a, a a US$ 10 , a

aa a ab.

La aa a , b a aa a aaa a P, aaa a, aaa . La b aa a a a.

6.8. A

Ba a aba baa, a aa a b aaab a aba baa, a a a a a, a a aa a a a 50% aa aa a a a aa a a a a aa a a aa a aaaa a a . E a aba baa ab a a a a ab a aa 50% a a a aa a a Ea.


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Aa, a a a aa a a ab b aba a aa a aa .

6.9. G

L a aa a aa P , b a a a. E a, b a a a ba aa a AaMaa Gaaa I Ba Ma (MIGA), a aa C Pa 2 ab 1991. MIGA aaa a a a a aa a a aa , a, a b a a a ba a. MIGA ab aa a a a a aa aa aa.

P a a, P a a Ea U Aa a b aa a , a a (OPIC), a , a aaa aa a Ea U Aa P. La OPIC a a a a a a aaaa b Ea U Aa.

6.10. A

E P a a a baa a:

Aa

Aaa

La U Ea aa Ba Lb

Ba Caa

C

Rba Pa Ca

Cba

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Maaa

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Pa Ba

Na

Paaa

Pa

Rba Ca

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Sa

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Taaa

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Ea U Aa

Va

D , a, P ab a a Taa Lb

C Ea U Aa a 1 2009. E aa a a , , a baa, a , a a,aaa a a aba aba, a, .

Aa, P a a Taa Lb C Caa, C, Ca, M,Sa, Ca S a Aa Ea Lb C (AELC). H a, P a aa b Ha E Saa.

P ab a a Taa Lb C, aa a a2012: Ca Ra, U Ea, Gaaa, Ja, Paa Taaa

Fa, P ab a C Iaa Ba Ma b C

Iaa aa a S C I (ICSID) Ea aa

Ea. E aa a aa a a b .

6.11. P

E a b aa a a aa a a:

La aa a aa b aa aa a aa.

E b a a a a, aa ba a a a a a aa. L a ba a aa a aa a aa , a a Ba Ca Ra P a a aa aa a a a a aa.


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E a b a a a ( a a aaa a a a a) aaa.

N a a ba a a a a a a a . Ab aa a a aa.

L aa a a a a a aa a aa 4.99%, a . D a, aa a aa 30%.

L aa ba a aa aa, a a a , a a aa 1%.

L a a aaa baa, a a a a a, a a a a a aa 31 b 2012.


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C 7

L L C P

C

7.1 L A

La a aa a aba D La N. 1034, 2008. Da L A a: ab a, a a a a a a. Ea b aaa a a.

7.2 A Ca a a a a a, a aa a a a, b b a a a a , a a , a a ba b aa a , a a a aba. Ea a :

Na aa a aa aa a aa a;

Aa a aa a a aaaa a a aa a ;

Sba a ba a a a aa a aa , aaa a a a, a a b a a;

Obaa aa aa a a aa aa a aa aa a;

Eab, a b a a, a a a a, a;

Ua aa aba aa a aa, a a a;

Ia a a b a , a aa;

E a, aa a a a aa aa a a a a a a a a.

7.3. P

S a a a a a aa aaa a a b , aaa b a, a :

La a ;


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La a, a aa a aa a a aa a;

A aa a a , b a ;

A aa a a a aa a ;

Da aa ,

E a a a a a a .

Db a a aa , I Naa aa a P a LbCa a Pa Ia (INDECOPI), aa a a a, a a a a (a a a) a a a a a a aa:

a a a;

a a a a;

a (, , a a);

ab ab a a a, a a aa a ba a a a , a a baa ba a.

La Aa Ca aa a a a aa a a a aa aaa a aa ba a aa a a a aa a a a. E a aa a a, a a a a, , a .

7.4. P S a a a a a aa aa a a a a aa , b aa, a b , aa a b a.

La a a a a a a ab a a a a a aa a. L a :

Ca N Ca: A a a a : ,, aa a a.

Ca Va: E a aa "a" a a a a a aa ( a ), ba a a a , a , aa .

A Ea: Db Va. A b a b a a a a, b b a b a.

E a a a a a aa ab a a a, a aa a a aa


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a a. S ba a a a a a a . Paa a a a aa, b ab a, a a a a a a a a. P , a a a a a a a a.

7.5. L

E a a, a L A P a a aba a a a a, .

E , a L A A a L S E, L N.26876, ab a ( , M&A) aa a I Naa Da a Ca a Pa Ia (INDECOPI)a a a ab .

N ba a, ab aa INDECOPI a a aa a a

a a a a . E a a a R INDECOPI a Tba a a aa a a a a aba , a C OaEa Sa Ia Naa (COES). E COES a a aa aaa ba, a b a a . ECOES aa a a a a a aa a 70% a baaa.

INDECOPI a a a aa, a aaba a a COES a a aa a aaa, ba a a a , aaa a aa a a, a a a.

La Sa Ba S a M&A a a aaaba, aa , a a ba a baaa .S ba, a a.

7.6. L P

La Saa Ta a aa aa a a aa a a a aa ab aa. E a SaaTa a a aa a Saa Ta a a a a. Laaa aa a a a a a aa a a , a , a C Da a LbCa a a aa aa a INDECOPI.

La a C aaa a a Saa Da a Ca INDECOPI( aa a Saa), a a aa aa. La a Saa aaa a a a a a aa, a a a a aa a a.


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7.7. L P

Da , a Saa Ta a a C a a aa a a a:

Caa MaS a a aa

Ma a 25 UIT (aaaUS$34,400) a a 125 UIT(aaa US$ 172,100).

E a a a .

Ma a 1,000 UIT (US$1,377,400).

La a a a a aa a C a a a a .

E a a ab a a a aa a a:

Gaa a Va Ma

Ia L Ma a a 500 UIT (aaaUS$ 688,700), a a a 8% a a b b a a a a a

Ia Ga Ma a a 1,000 UIT(aaa US$ 1,377,400) a a a 10% a a b b a a

a a.Ia M Ga Ma 1,000 UIT(aaa US$ 1,377,400) a a a 12% a a b b a aa a.

S a a, aa a aa a aa 1 a a a, a C a a 1,000 UIT (aaa US$ 1, 377,400).

S a a aa, a aa a a a a a a, a a a a, a C a a 100 UIT (aaa US$137,800) a aa a a a aa a a aa a a aa, a aba a a a.


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7.8. C

La a aa aa a aa a a a a a aa aa. Ea a aa a a a a a a aa a a, a aa a a a

aa, a ba, a a a a ab a a aa a.

La L R a Ca Da, D La N. 1044, a a a a. Ea a aa a a a a a a a aa, a . P a, a a a a, a a C P, a a a P.

S a a a a a, b, a a aa a a a a a a a ba a. La AaAaa b a a aa aaa a ba a, aa aa a aa.

S a a a a, , :

A aa a aaa a. E a aa: a a a .

A aa a a a . E a, a b: a a ba a a aa, a a, a aa a aa.

L a a ba a a. U a a

a a, a a a aba aa.

L a a a a a ab a aa ba. P : aa aa (, a a a a ba a), a a aa (,a a ba a a ), a a aa a ( ., aba a a a a , ba a aa ).

Paa a a a, a a, a a b. P a, a ba aa

a a a aa aa INDECOPI a a a a.

7.9. C P

La a a a a a a aa a I Naa Da a Ca a Pa Ia INDECOPI:


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E a aa a C Faa a Ca Da INDECOPI (aC). La C a b a a a a aa.

E a a a aa aaa, Tba Da Ca P a Pa Ia INDECOPI Saa a Ca ( aa aC) a a aa a aa aa a a a.

L aa a aa:

E Sa T a C a aa;

La a ab a . E a, SaT a; aa a aba . E Sa T a a, 30 a

b a a aa, a Saa Ta a aa aab a a a a a .

E aa a a , a aaa a a a a, aa aa aa a a aa a a a, a a a a a.

C a C, a aa 10 a b a a C a a aa. La aa :

La a;

E a a a aa .

A, b aa a a a C a aa aa. E a aa a a b.

La a a a a a aaa ( aa P Ja aa aaa) a a C Aaa (Saa Ca Tba INDECOPI). Ea aa a aa 3 a aa a a aa.

La a a Saa Tba Da INDECOPI aaa, a a aa a .a a a a a INDECOPI a a, a, a a.


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7.10. C P

Ca a a a aa, aa aaaa aa 700 UIT (aaa US$964,100), a aa aaa 10% b b a.

La C a a Saa ab a a a ab aa a. Ea :

Oa a a aa aa a a a ab aa;

Oa a a a a a;

Eba a / b, a, , aaa a aa a ;

C a ab;

Ra a a aa, aa aa;

Oa a a aaa a a a aa aa b

a a; Pba a aa.

7.11. P

E C P Da C, L 29571 ( aa E C), aa a aa a a aa a a baa aa a . E C aa a a a a a a a, a a, abaa a a a. Ba b, a a a a , a a aa a

ab a a aa a a (aa ba), b a .

E C a a a a a aaa a a a P C. E , a C a a a, a b a Lb Raa, ab ab a b b , a a. Aa, C aaba aa a aa a a .

L ab, a a, :

Da b b a abaa aab a aba. L b aa aa aaa. E , C ab aa aa aa a aa b.

E a b b a aa (N S) I Ga a a Va (IGV). S a a aa, b ab a aa a.


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Pa a a a a, aa a. E ,a a a b b aa a. E a a, a a a aaa a aaa, , aa , a a a.

T a:

S a a a a a, a a a aa aa a , a aa a a.

U . U a aa a aa a a aa ba.

N a. P , a ab b a a a aa a aa, a b a aa.

E b aa a, a a a , a .

Aa a a, a a a a .

7.12. P P

La a a a a C P a C ( aa aC) INDECOPI. La C a b a aa a a

aa a C.

E a aa a a a a a a a a aa a . Ca a a b a, aa:

Ra a a Oa A a Caa INDECOPI. E a ba a a aa. S a a aa aa a a INDECOPI a , aa a a.

Pa a a a a Sa T a C P a

C.

Ca a aa a a.

La C, Sa T a C, a a a a aC ba a a, a aL.


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P a aa a a a aa a C, a Tba INDECOPI. E ab a a aa a a aba a aaa a. E a aa a a aa a aa ab a a a a a a.

Ca a a Tba, a a a a aa a a. E a aa aa a a a Tba.

La a Tba aa aa, a a a a a aa a . La a aa INDECOPI a a a.

7.13. P P

La C aa aa a a aaa aa 450 UIT(aaa US$619,800) a a a a. S , a C a C Aaa a a a aaa aa a a aa aa.

Aa a a a :

E a a a. Iaa b. La a a a aa aa a aa aaa a a

aa a a aa a a. S aa .

Ca a C aa aa a a aa a a .

La a aaa a a a aa aa a a a a a a .

7.14. N

La L N. 29571 a R N. 1592010INDECOPI/CPC ab aaa a a a a a a aa.P , a C a a a a a a 3

UIT (US$4,100) a aa aa a a a aa aaa.A, a C aaa a baa ab, a a a , a a a a a.

E a aa 30 a, a a a a a a a, 10 a : (1) a a aa a a a a ba, (2) a a aa baa a aa


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ba a , (3) a a a a a a a a a a a a C b .

7.15. P

E P, a ba a b ab a L R aCa Da, D La N. 1044 a L N. 29571 a a a . L ba a aa a a a aba. E D La N. 1044 aa a aa a, a aa a a, b, b .

La a ba a a a ba a a a a a. La ba a a a a ba aa a aa aa. Laba a, a a a a a.

S b a ba a a ba, b a a a, aa a aa a , aa a a a a b .

E , a ba a a a a a b a , a a, aa a a b aa , a a aa a a a . La aaaa a ba a a ba a.

La a aa a a aa ab a a a a

aaa a aa.

P a, a a ba a a, a abaaa aa a aa ba aa a ba, a a ba aaa a aaa ba.

L a ab ab a a aaa aa , a b ba. Ea a a a a a a a aa a a.

La ba a aba aa a a a . La a a ab a a a b.

A, a L N. 29571 a a a a, ab ba b a a a a b aa, b aa a .


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7.16. PP

La a aa ab a a a a ba a C Faa a Ca Da INDECOPI ( aa a C). N a a aa Ea aa a a ba, a

a a a a a ba a a C. Ca a aa a Ea a a.

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7.17 PP .

S a aa, Tba a C a a a aa a a a ba a , Tba a C aa a a aa a a aa 700 UIT (aaa US$964,000). A, a C

a a ba / a a a ba.

La C ab a a, a aa, a ba a a a a a aa aa a ba a ab aa a. P a, aa a aaa aa a a aaa aba a a.


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C 8

C

8.1. E P

L a aab a a (a aa) aa :

I : T Oa a L I a a Ra, aba D S N. 1792004EF, Ra aba D S N. 122.94EF.

I G : T Oa a L I Ga a a Va I S a C, aba D S N. 05599EF, Raaba D S N. 2994.EF.

I C:T Oa a L I Ga a a Va I S a C aba D S N. 05599EF, Raaba D S N. 2994.EF.

A : Aa Aaa 2012, aba a D S 2382011EF.

I P A: T Oa a L Tba Ma aba

D S N. 1562004EF.

I F: T Oa a L aa a La a aEa aaa Faa a Ea aba D S N. 0472004EF.

I A N: L N. 28424 Ra aba DS N. 0252005EF.

C

Aa, P, a a baa a a a

aa a a, a ab aa.

8.2. I I

E a a a aa a aa, aba a ba ab.Ia, aa a aaa aa aa a aa a b b,a aa a ab a L I a a Ra.


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8.3. I P

E a a a a aa, a a ab aa ba aab. La a aa aa ba b a a a b. P a, a a aa aa, a ba

a aa.

La a aa aa a a a aa aaa aa a 183 a aa aa 12. E a, aa aa a a a aa aa aa 1 a aa a .

L b a aa aa aa: Ra Na Caa Ra Na Taba. D a a aa a a Ra Pa Caa (a a aa, baa bb b) a Ra Sa Caa (aaa aa). P a, a aa Ra Na Taba a a Ra Caa Caa (a aba ), a Ra Qa Caa (a aba) a, a a aa.

C a a, a a aa aaa a. Ea,a a aa a aa a aa aa b a aa a a.

8.4. I P D

La ba b a a a ba aa a a aa

aa a a (a a aa a a aba), aa a 36, 37 46 a L I a a Ra.

8.5. I P DD

La a aa aa aa a :

C

Ra Caa E a a a aaa: 20% a a ba aab.

Ra Taba E a a aa aa: 20% aa ba aab, aa 24 Ua Ia Tbaa (UIT). Ua UITa a 3,650 N , (U.S.$ 1,377,aaa).

Ra Taba E a a aa a aa(baa): 7 UIT (US$ 9,642 aaa) .


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8.6. I P DP

L a b a aa aa a a a , , a a , , a

a a, a aa a a a a a a aba (a aa a aa). La a a aa aa a aa aa.

8.7. I P D

La a a aa aa ( ) a a a a aa 6.25%. L a a aa 4.1%.

La a a aa aba ba a aa aa (a a ) a a a aa a

aaa:

N

Haa 27 UIT (US$ 37,189 aaa) 15%

P 27 UIT aa 54 UIT ( US$ 37,189 US$ 74,377)

21%

M 54 UIT ( US$ 74,377) 30%

8.8. I P DE

S a a a a a aa a, a aa aa, a aa a aa aa.

8.9. I P N

La aa aab a a a aa aa a :

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D

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Tabaa D 30%

Taa b b 30%

I ( a aa a aa a aa aaa aa a a a aa)

I ( a aa a aa aa a aa a

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, aa a a aa a)

Gaaa aa aa aaa a P ( a Ba Va La)

5%

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aa a a a

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8.10. I P D

Paa a a a a a aa ba a aa

aa a a aa b, , aa a a b, , a a a .

A a , a a aa aa b b Ca Ra Caa I, a Aa Tbaa Paa Sa Naa Aaa Aa Tbaa (SUNAT).

8.11. I P

E a a a a, a a a a a aa,

a a a aa ba aab. La a aaa ba b a a, a a a a aa, a a ab a a aa I aa Ra b a aa.La b aaa a a aa a aaa I a a Ra.

8.12. I P D

La a a aa a aa I a a Ra a a.

S a a ab a a a aa a a a b a aa I a a Ra, ba a b a aa. S ba,a a ab a a a ba a aa a aa P (a aba, a b ab, aaa aa, a).


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E a a aa aaa a a aa aa a a a aa, a (a a). Ea aa a a aa aaa , aa a a aa a aa a aa.

La a a aa aa a a a aa aa ba.

8.13. I P D

La a a ba a a aa aa a aaa a a I a a Ra a aa 30%.

8.14. I P DD

P a a, a a a a aa a a

b, a a aa b a a aa aa a a a b ( aa, a a a a, a, a a a ab, a , I Ga a a Va I S aC a a aa aa b, a a a ab Ra Cba Pa, ).

8.15. I P DP

La a a aa aaa a a aa a aa a a a a a:

La a a a a aa aa aab aa a a a a, aa aa , a a aa a aa ba a a a a a a a. Ba , a a a aa a a a a a, a aaa a.

La a a a a aa aa aab aa a a a a, aa aa , a a (50%) a a a a aa ba a . Ba , a a aaaaa.

8.16. I P D

La a a aa a a I a a Ra aa a aa P, aa a b a a a, a .


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8.17. I P N

La a a aa ba I a a Ra a b a aa.

A, a a a 8.12, a a ab a a a aa ba a a aa.

8.18. I P N

C a a, a a aa ba a aa a aa aa 30%. N ba, a aa a aab:

D: S aa a 4.1%.

D

C : L b a aa, a a aa a a a a a a b aa, a 12 a a b, a aa aa aa aa aa a a b, aaa a aa aa, aaa 30%.

: S a a a a aa 30%. A , a L I a aRa a a aa a aa aa a a, aa, , a, a a a aba a, a , a a aa a aa aa aa (a) a aaa a a a a, a a.

I: I a a a aa 4.99%, a :

Q a a a aa a a.

Q a a .

Q a a a aa.

Q aa a ba a a aa LIBOR 7 (USA, Caa, Ea). S a , ba aa a a a a aa 30%

E a a aa, aa a aa 30%.

L b a a a, a a a L Sa Fa a a a aa 4.99%.

L aba a a a a a aa ba a aa aa a a a a a a a aa a aa 4.99%.


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A : La a aa a a aa a aa a aa 8% 6%, a.

A : La a ba a aa a a aaa a aa 15% a .

E a a a a, a a b b a a a SUNAT a a aa, a aa a a aaa.

E a b a aa a a 140 UIT(U.S.$192,830 aaa).

: S aa a aa 5% b a aaa ba a aa a P, aa R Pb Ma Va a Ba Va La. D a, a a aa a aaa a a b 30%.

L a a a aa a a, a a a aa aa (a a a a a a a a) a a a a a aa P, () a a a a aa, a a a a aa aa a aa a a a a aa a aa,aa a 50% a a a a a aa aa aa a a aa () a a aa a a aa a, a a a aa a aa a a ().

8.19. I

P

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E a a a, a aa a a aa a aa a aa b.

8.20. I P N D

A a a a a aa ba a a a aa a a aa b, , aa a a b, a a .


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Paa , a a a aa b b Ca Ra Caa I, a SUNAT. D , a a aa b ab, a aa a a 20% aa aa .

8.21. I C

C a a, ( ) a aba a a a a aa ba. E a , ba a a a a aa.

E a aba , a a a a, aa aba a b a aaa ba a a aa ( a a aa).

8.22. I

Ba a a a a a, a SUNAT a aa aa aa a a a a a (' ).

La SUNAT aa a a aa a a a P.

C ba, a a a aa aa a OECDa aab a aa a aa aaa , aa aa aa a, aa a a aa aa a

( , a a a aa P).

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A, a a aa b aa, a a a a a: () aab a(CUP), () a, () a, () a a, () a a a () a aaa, aa a a a aa aa a a a a

P a a, b b a ba a ( aa a a a I a a Ra):

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aa, a a aa, ,ba a a a a a ba baa.

Pa aa a aa aa aa a aa aaa a aa. Ea aa a b aa a a a a aa a S/. 200,000.00 (aaa U.S.$ 75,472).N ba, a ba a a aa aa a a aaa a aa a.

Ca E T P Taa aa, a a a a a a S/. 6 (a. U.S.$ 2,264,151) , aa, a a aaa a S/. 1 (a. U.S.$ 377,358). S ba, a a aaa b a aa a, ba a aba a E T P Taa.

8.23. I P

U a a aa a a:

S a a a a a aa a a aa aa,

S a aa a I a a Ra a 0% a 50% a aaa I a a Ra aab P a, a a a a a aaa:

() N a a a b ba baa a .

() Ea a a b ba a aaba b a a a b a.

()L b b ba b a a a a .

()E a a, a b aa a.

S b a a a baa aa a a a "a" ""a a " a", b a b aa a a aa a. E a , a b a a ( a a b ba) a , a aa a. P a, ba a aa a a aa a a Eaa PaBa, a Ea U Aa a a

a ba a a a aa a Ea ( Daa Naa) aa aa a ba a a baa aa.

E a a a a, b a a b a a, aa a b a aa a, b a a a a a b. N ba, a a aab:


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a;

a;

b aa;

a P aa aa P;

a Caa Paa

E a b b aaa a a a a a a.

8.24. I I (IG)

E aa b a a P, a aa:

a a b;

a a a a;

a ; a a a b b aaa ;

a a b.

La aa aa IGV 18%. La aa a a aaa IGV.

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E a b a a a, a :

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() a a b aa a a a a aaa IGV.

A, b a.

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8.25. I I (IG) IG

A a a a aa a a aa a a aa a a a, a a

aab, a a aa a ab R Ra Aaa IGV (aa R).

E a R a a a a IGV aa a a /a a b a a aa a , a a aa a a Ca Iba Ea Pa.

A a a R, b :

() Cba Ca I Ea Pa. La b a a

U.S.$5,000,000, IGV .() La aa aa b a a a, aa a Ca I.

()Ob a R Sa a M Ea Faa a M a a aa a , aa a a ba R.

Ra a aa R aab a a aa aa, a a a a aa a a a b , a aa a aa b aaa IGV a a a .

R a b aa R, b, a a R b aba M Ea Faa,b a ba a a baa aa a a aCaa Ea U D (CUODE). D b, a b a Ca I b a a , a aaa a aa b ba.

La aa aa aa a b a a aD 45 a Caa Iaa Ia U a a Na Ua( 3.0, D La 973).

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Fa, a a a a aa R, b, ,a , . b aa aa ab a aa: (1) a a a aaa; (2) a a a


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a a aaa; (3) a a a a a aaaa aaa.

8.26. I I (IC)

E I S a C (ISC) aa a a a a aba a a aa a bb (a, a ), bba aa, , , aaa, a aba, a , a aa. La aa aab (a a) aa a b aa a b a a (a ).

8.27. I D

La a aaaa aa : 0%, 6% 11%.

E aa a a a a a

a aaa, a a a a a 18 .

8.28. I I (IF)

E I a a Taa Faa (ITF) aa a aa aa aaa aa a baa a, a aa aa. E aa b a a , a a, , a, , a.

E ITF aa b aa I a a Ra, a aa aa a.

La aa ITF aab aa 2012 0.005%.

8.29. I I (A)

La aa b b, a a a, a aaa a a I Aabaa. E a b aa a .

La aa aab aa aa 3% b a aa, ba aa ab a aa a a a 10 UIT(aaa U.S.$ 13,774.00), a a aa a a a bab.


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8.30. I (IAN)

E aa a b a a a aa, a aa a, a a a R Ga I a a Ra ( a

a a a, aa ab a a a aa).L b a aa a a, a aa aa a a aa .

E ITAN aa a a a a a a 31 b a a.A a a a a ba b, aa , a, .

La aa aa a a ba b a a a aa:

A A N2009 aa 0.4% E S/.1,000,000

(aaa US$377,358).

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8.31. I

E a aa aa a a b, aa aaa b a a b b a ba a aa aa a a a a.

E aa a aa a a aa:

B I

Haa 15 UIT (US$ 20,660) 0.2%D 15 UIT aa 60 UIT(US$ 20,660 a US$ 82,641)

0.6%

M 60 UIT (US$82,641) 1.0%

L a ba b a b a aa a a aaa a a a a.


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8.32. I

La a baa aa a ab a aa a aa P. E C Ea, Taa, Ia,Caa S (CETICOS), b a b b

aa. S ba, a a b aa a a a aaa a.

E ba a aab a aa baa a R a AaaPaa, aa aa aa a a a.

Tab ba a aa a aa a baa a RAa, a a I a a Ra, IGV aaa, b a a aa (aa, aa a, aaa, ).

8.33. C

L a a a a a b a Ea Pa, a aaa a a ba ( aa a baa) a a , a a "a".

D a a aa Ea Pa, a a a a a a aab.

8.34.

P a C aa Ea a Db I Tbaa (CDI) C, Caa (ab

2004) Ba ( 2010). La a a aa ab a a aaa aa aa ba a a aa a a a, aaa a, a a ab a P.

Ba CDI, , , aa a aa a. La aa 10% 15% aa ( a, a aa 4.1% aba a L I a aRa a aab ), 15% aa ( a, a aa a 4.99%aba a L I a a Ra aa a a a a), 15% aa aa. S , a a aa (, aa) aa a. A a a b baa, I a a Ra aa P a a.

E a , a Ca Aa Na (Ba, Ea, Cba P) a ab aa a a b baa (D N 578).


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8.35. I

P a CDI Eaa, Sa M, a . Aa, P a a a a Sa, Iaa, Taaa, Faa, Pa

R U a b aa aa a a b .


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C 9

D P I

9.1. G

E P aa a, :

- C Pa aa a P a Pa Ia;- C Ba aa a P a Oba Laa Aa;- A Lba a a a P a Da O R

Iaa;- C ab a Oaa Ma a Pa Ia;- C Iaaa b a P Maaa Ca;

- A b A D Pa Ia Raa a

C (TRIP);- A ab a Oaa Ma C (OMC);- Taa Ba b R Iaa D

Ma a P aa Pa;- C Iaa aa a P a Ob Va (UPOV);- Taa Ca aa Pa (PCT).

A A Lb C a Ea U Aa P, a a ab a a aa. E a a a a, a a a; a a a aa a a.

Da P ab b a Ca Aa, a a a aa a D 486 D La N. 1075, a aba aaa a D. La D 486 a a , a, a, a, a aa a, aa, aa a, aa a, b a, a a, a , .

E I Naa Da a Ca a P a Pa Ia (aa INDECOPI), a a aa a a a a a.

9.2. M

La a aa P a a a D S D INDECOPI. Ga, a a aaa a (4) a . La aa aa, a a aaa a a, a a aa a a. Lb a , a . E a a aaa a a .


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E , a aa a D N. 486, a b aaa a baa a a a aa a aa aa aa a a a Ca Aa, a aa b , aa b a aa a aa aa aa .

La a aa a a aa a a, a INDECOPI a a aa a .

9.3. M

S a L Pa Ia, a aa a aa a. Ca aa, a, a aa a b a CaAa b ab aa a aa b C Pa.La a a.

9.4. MP

Ca a aa a ba aa a b aCa Aa a a b C Pa, a aaaa P a a aba a a, a a b .

9.5. MP

E a aa a a a a a aba a a aa a a INDECOPI. La a a a D S D, :

Ia a a a aa, a aa a a.

Ia a a a.

Ia a , a a CaaIaa.

P a a a a aa, b a, a a,aa a a aa.

D 15 a b a a aa, a D aa a. E , a , aD a ba. D a, a Da a 60 a b aa a a baa a a.


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P a, a a , a a ba. Ua baa a , a 30 a b a a ba, a a , a a , . La aa b a a aa 50 UIT (aaa US$68,868). S ba, a a a a a a D aa aa a aa.

E a a aa a 30 a b aa a aa a, a a C b a a a . Ca a C ab aa aa Tba INDECOPI a a a aa.

9.6. MP

E a aa a a a a aa a a 10 a aa 10 a a. La a a a; aa a aa a. Ha aa aa a aa a a aa. Paa ,a aa a a a a a a aa , b a aa aa. E a a , b a a aa aa aa 6 a aa.

E a aa a aaa a .

La ba a aa aa aa a a a aa, aa a aa b aa a a a a a aa a . La C S D aa a a aa a a aa a a aa a ba aa a a aa.

9.7. P

La a a P a a a a a a a a D I Na Ta I Naa Da aCa P a Pa Ia (INDECOPI). E a a, a a a.

La a P, aa a a a a a a, a a b aa a. Laaa a a a a a a

. Ua a a, a a a a a.E a a a a a b a a a, a, aa a a a a a a a , a, a a a.

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a a, a a a a a. La a a a b aa a ab,a a a a a a a a a a: U a aaa a a, aa a.

9.8. P

La , a a, a 20 a. Ua , a a aa a a a b.

9.9. PP

Paa a a a, a a a a D Na I Ta a , , a a a, a a a , ba a a aa aba. S a a, a D ba a

18 . P a, a aa a .

E a 60 a a a a ba, a a , a a , a a a a a a aa a aaaba a . E a a 60 a aa a a , a 60 a aa, a a C a. E a a a aaba a a ba a , a a .

La D I Na Ta aa a :

S a a a a S a S a S Ca Ob Vaa Va S a

9.10. PO ;

E a a a ba a a a aaa a a b aCa Aa, a a a a a aa a aaa. Paa a aa , a aba aa aa b aaa aaa. La a aa a a . La aa a a a aaa a aa a a. Ea aaa b aa a aa .

E a D 486, a a baa a a a a aa a a a a a a a a a a a a a a a, a a. La a baa a ab aa aa a b a a aa


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a a a a a. E a b aa a a a a aa aaa.

E a a aa b, a a aa a aa aa, a a a a a a baa a . La a a baa a b, a a aa aba a a a a a.

9.11. P C P (PC)

C a, P aa Ea aa Taa Ca Pa (PCT), ab a aa a a, ba a a a aa a a a a aa. Tab a aa a a , a a, a a a. E PCT aa P 6 2009.

E a PCT a a a Eaaa, a a a a aa Ea a a aa a . P a, a aa aa aa a " aa". Ca aa Ea aa a a aa. E P, I Naa Da a Ca P a Pa Ia (INDECOPI), a a a a aaab. L a aaa a aa Ra.

E a a a, a a aa , a aa

a P a 90% a aa a aa aaa ba aa aa (a a aa).

9.12. PP (PC)P

L PCT a a aa: a aa a aa. E aaa : a aa, a ba aa , a, a a aa. La aa aa ab a a INDECOPI b aa a aa aa aa.

La aa b a, a a: a a aa Eaaa a Ea aa a , a aaa Ea aa a Ea aa a aa, a a Ea aa a aa, a OaIaa.


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La aa a aaa a a Oa Ra ( P INDECOPI). S a a aa a Aa Ba Iaa ab a aa ba. Ea aa a a a a a a a a a a a aa aa(aa a aa) a a a aa a aa.

Ta a , : b a a a a a a a (a a a aaa ); aa a aa a aa, a a Eaaa ; a a a. A, aaa a a a a aa a aa aa a a a C Pa aa a P a Pa Ia aa a Mb a Oaa Ma C a a C.

La aa a a Oa a a, a a a a a a a a a Oa Iaa a a a Aa aaa aba aa. Da aa a a a a aa (aa a)aba a Oa a a a a aa aba a AaIaa.

Ca a aa aa ba a a aa b a OaIaa Oa a, a Oa aa b aa a b a aOa Iaa. Ea a a a a a aa a aa aa, b, a a a aa a baa a a. La aa aa, a a ba a Oa Iaa Oaa a a a aa a a aa, , INDECOPI.

Ta aa a a PCT, a a a

a a aa a a aa a C Paaa a P a Pa Ia. S a Oa a, , INDECOPI, a, a a a a aa, , aa a a aa aa a aa.

9.13. PP (PC)B

Caa aa a a a ba aa a I BaIaa a a a a, aa a ab a Aa BaIaa ( INDECOPI a aa baa). E b a

ba aa b a a b a ba a a, a a b. La a a a b a a a a a a (b a a) a aa aa a a aa a , a a aa a. La ba aa b abaa , a a ab b a ba a ba, aa aa a . E a a b aab, a baaa b abaa a a aa a a a a a a


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a aab a a a a a a. Tab a a a a a a a . La a a a aa a a, a a aa a b aaa a aa aa a aa a ba a Aa Ba Iaa. La ab a a a aa , a aa aa a, a a aa a a aAa aaa a. E a, a b a a a Aa, a ( a ), a a a a, a.

E ba aa a , a a ab, a a aaa a ba aa a a a a Oa Iaa. Ea a a a, a a a a a a 16 a a a a a, a a a. La a b aa a a a OaIaa.

9.14. P

C P (PC)

C

La Oa Iaa a aa a ba aa a a a aa a a aa a a ba aa a, a aa a.

9.15. P C P (PC)C O

La aa, ba aa, b aa aaa a aa, a a a aa a a a aa a.

9.16. P C P (PC)P

La Oa Iaa b ba a aa baaa a a 18 a a a a a a a Gaa PCT, a a a a. A a a a ba,a a a a a a a. E a a a Oa Iaa b aa a a a a. N ab

a ba aa a aa a a aa a aa a ba aa a.

9.17. P C P (PC)E

A a, a aa b a aaa a Aa Ea Pa Iaa a a a aa


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aba. Ea a aa aa aa 30 aa a. La a a aa b a aa a aa. La a a a aa a a: a a a aa ba aa a a 22 a a a.

E b a a aa a a a ab a a aa a a, a a aa a b aa a. E a a aa a ba a a a Ea a a a . E a a a a, a ba a a aa aba. La a a a a a a aa a aa.

La a a a a aa a.

9.18. D

A a a aa, a a a a aa ; aa, a a ab a C Ba. S ba, a, b a .

N ba, ab a a, a a a b a aa a, a ba a a a, . E ba a. E ab aa aa a a a .

L a a a D N. 351 a Ca Aa DLa N. 822 (L D A D C) aa D La N. 1076. La a a abaa b,a, a, , a a, a, abaa, a, a, aba a, aa, aa, a, aa, aa a, a, a, .

La D D A INDECOPI a a aaa aaa a. T aa aa a a a a, a aa a.

9.19. D P

C a, a aa. Ua aa aa a , a a a. La D D A a a 30 a b. S , aa a a


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Tba INDECOPI a a aa. E a aa a a aaa a .

E a a aa. Ca a a aa a ba a a a. E a aa a a a b a a.

Paa a a INDECOPI, a a a ba a a a. INDECOPI a a aa:

S ba aa a aba aa

S a ba a S ba aa S ba aa S aa

S a a a S a aa S a, S a, , a aa

a

9.20. D P

L a a a a a a 70 a a a, a a a ba. Ua a , a ba a b.

Paa a ba aba, a a a a.

L a a aa , a, a a a ba b a aa b, a b a a a ba.

La a a, a aaa, a ba a. E a a P a aa . E a aaba, a aa . S ba a. S ba, a aa

a aa a a ab a .

La a a ba a a b a. E a . Ua a a a a a b a ba.


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9.21. D O

L a b a a a a a ba a aa b. S ba, a a a b a baa. P a, a a ba a a a a

a ba a, a a a a a aaa aa.

9.22. D C

L a a a a a a a a aaa a a a a .

E a a aa, a a :

Ua aa Ua a aa 180 UIT (aaa U.S. $ 247,900.00)

C a a aa 90 aIaa a aa, a a aaa a aa aa

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a.

L a a a a a a a a a a. La aab a aaa aa a 30%, aa b a.

9.23. D

E a aa a D La N. 822 a D N. 351 aCa Aa. La aa a a a a a a. E a aa P a a a a aa.

L aa aa a ba aa. L aa a 70 a a a a a aba. La a , a a a a ba. S ba,

a, a INDECOPI aa a b a .

9.24. A

E P, I Naa Da a Ca a P a PaIa (INDECOPI) a a a aa a.

L a b a a:


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Ca a a a, a Ea aaa Ua a a aa E a aa a aa a La a a

La a a b a a, a a a aa a a a a baa a a a a Ca Aa aaa, a INDECOPI a.

E a a a a aa a a a a aa a a a baa, . N aabaa aa aa a a .

9.25. C

La a a a :

L a a a, L N. 27269, aa 2000. Ea a a a a, a a a a a, a a a aa a aa aa.

Ra a L Fa Ca Da, aa 2002, ab INDECOPI a aa aaa .

La L ASa, L N. 28493, aa 2005, aa a a

ba b a a a. U a a a a a.


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C 10

L L M

10.1. L

E T Oa D La N. 728, L Pa Ca Laba,aba D S N. 00397TR 27 a 1997 a a a abaa a a. P a, a L Ra Ca Taba,abaa D S N. 0102003TR 5 b 2003, a a, aa a a. E D La N. 689 11 b 1991 a a a aa a aa abaa a. La aa aa a aa .

10.2.

D a a a a aba, a ba a a a abaa. C a a, a aba a aa.

L a aba a b a a b a

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